THE WATFORD FESTIVAL OF MUSIC, SPEECH AND DRAMA
REPORT AND ACCOUNTS
FOR THE YEAR ENDED
30 JUNE 2023

THE WATFORD FESTIVAL OF MUSIC, SPEECH AND DRAAIA
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 30 JUNE 2023
Ileport of the Trustees
statement of FIn3nd￿ Attlvltles
General Note5 to the Flnandal Statements ar￿ Accountlr4 pollcles
Incorne aftd expend5ture- Genenl Account and Speeth and Drama
Income and expendltwe. Musk and Watford InternatIor￿ Plano Competltlon
Report ofthe Independent Examlner
io

REPORT OF THE TRusfEES
YEAR E14DED 30JUNE 2ty13
The trustees have pleasure in presenting their report and the financial statements for the year
ended 30June 2023. Th15 rewrt and the fiftarthl staternents have been prePa￿d in accordancE
with the standards set out In the Statement of Recommended Practice for 4cc<)untin8 for tharit
tssued fythecharfty Cmwnbsloners fof Er￿ •)d Wales.
Objettlve orMIStnrtegy
The primary aim ofThe w*forqt kstw•l of Musi4 Speech and l)roma lThe SestP4al'l Is to promote the
educatlon of the public in the art5, in particutsr wlth relard to music. speeth md dr•mJ. The Festlval
provldes aft opportunlty for peo￿. mainty Y(￿ne people, to take part and benefit fr¢)m enteriwa dasses
on a cofflp￿tfve basls wlth profesyion•l •dludleation tog*her with the chance 1150 to perform at
con￿rts and tln•les before • public audtence. AH the incom¢ and property of the Festi￿1 is •pphed
towards the alms as set out abtye.
Charfty Oetolls
Thè full name of thè thartty Is the Tr Watlord Fesiival of Musl4 Speeth & Orama. ¥thkh also has
4 Work1￿ name of. Watford Muslc Festival ". The Fest1¥￿ Is an unlncowted assodathM wlth a wrftten
It Is a re&lstered charlty wlth the Charlty Commission {Re81stration Numbef 2849941.
Non• of trust•es receive any remuneratlon or b•n•fft In r•sp•ct of th•lr dutl•s on b•half of th• F•sthal.
The trustee5 of the Festfv•l •re appolnted by the 8o•rd of Trnstees ond Commknee.
Those trustee5 who have served durfnq the yearwere:
. Jennlfer HIU I0￿1[man>
- Peter Waters (Honornry Se¢ret•ryl
Klrft Pètsl (Honorary Trtasur•rl
- Tony Berry IFrlends' Seuetaryl
- Rlyazi Mulammm IMinut•s S•cr•tary)
. Jart 8•llty Ichornll
Dan Collln5 (Speech & Drama)
- Jeff and Amanda Kallskl (Plano)
. Slvaylnee Krfshnakumaf Icomffllttee Membtrl
- Adrlanno Landsmon IStrlnR51
. Ayelet Yuchettl Iwbnd and Brass)
. Mells Omeroglu {Warford Internat5on•l Pl•no Competttlonl
. Anthea SpEnsley Ivorall
. vI￿v Salip (Website)
. Neeta Sallp Isèfeguardirf Cotydi￿
The sectlon leaders and other commlttee members attended the re8ular mana8ement commlttee

THE WATFORD FESTIVAL OF MUSIC. SPEECH MD DRAMA
REPORT OF THE TRUSTEES
YEAR ENDED 30 JUNE 2023
The Festival's bankers for the year were
Leeds Building Soaety. 26 Soverel8n Street. Leeds, LSI 48J
HSBC Bank plc. 73 Warford High Street.Watford.WD17 2DS
Funds are also deposited with COIF Charities Deposlt Fund at One An8el Lane. London. EC4R 3A&
The Indepndent Examlner Ss Rashml Parth. {Chwtered Certifled Attountsnt) 6 Wètford Road
Northwood HA6 3NR
Reserves Pollcy
Although the Festlval operates on a not-for%wofft l)asis. sufficient resew have been
bullt up 0%￿the years to ensure than rycontingent or unexpected1Saiblllty could be met
and that ¢ommltments for future Festival activ1t￿5 can be undertaken wlth C￿f￿dence.
The trustees consider that the level of reSer￿S In respect of the unrestricted fvnds which
15 equal to approximately one year's expenditure, to be appropriate and Sufficient.
Rtsk Manoqement
The trustees have emambned if there are any major rlsks the Festival fa¢es w)d c(NWder th•L
apart from publlc Ilabillty for whlch there Is Insurance, the Festlval's management
commStte• reviews and r•ports ¢nsur• th•t no ma1￿ fisk is likely to arlse or if it did th•t
Immedlate artlon would be tsken to mlnlmlse the extent of any rts
The state of the flnanclal affalrs of the Festlval as at 30June 2023 were satlsfactory.
The Totsl Income ofthe Festl¥•l Sn 2023 £28.717 (2022- £23,183) and the Tot•1 Expendlture
lor 2023 was £28,50612022- £26,270) resultSn8 In a small surplus of £211 for 2023 cornp?red wlth
a deflclt of £3087 In 2022.
The trustees are conslderln8 an Increase In entry fees for future everts to ensure that the flnanclal
posltlon Is not weak•n•d as th• futur• Infiatlonary pr*￿Ur•S on ov•rall costs.

REPORT OF THE TRUSTEES
YEAR ENDED 30 JUNE 2023
The Festival operates three funds as follows:
lal Generdl Fund- an unrestricted fund for general PUTP05es.
Ibl The Christopher Duke Memorial Fund. a restricted fund ueated to establish a
Fn thÈ fm of a plano compethlonl N¢)w known as Watford Intematlonal Plano CompetRlon)forthÈ
late Chrlstopher Duke, a highly talented pwi5t died at the age of 26.
Icl The Susannah Thomas Memorf•l Fund- • restricted fvnd to provlde an annual prlze for an
outstandlng performance on the cello.
Idl The Sallle Bowen Memorlal Fund- a restricted fund to wo¥ide an anni￿1 prlze for an 0￿standIn8
perforrnance In the strln8 sectlon.
Any lrnmaterlal deflclts whith arise on the restrfcted funds are offset by transfers from the
General Fund in order to maintain the ￿￿e1 of the restrirted funds as stated at the be8innlng
of any flnanclal year.
staten￿nt of Trustees, RespOn￿bIlItIeS￿Or the FlnarKlalStotements
The law applicable to charities in England and Wales requires trustees to prepare financlal
statements lor each flnanclal year whlth 8i¥e a true and fair view of the Festi¥afs incomin8
re￿UrceS and applScatlon of resources durln8 the year of Its state of affalfs at the end
of the year. In preparlng those financial ststefflents they are requlred to selert sultable
accountlng pollcles and then apply them con51stently. make jud8ements and estlmates that
are reasonable and prudent, state whether applicable accounting 5tsndards and statements
of recornmended practlce have been followed subject to any material departures dlsclosed
nd explèSned In the fin•n¢1￿ st•temeftts, and Pfepwe the statements on • '801￿ concem.
basls unless It Is Inapproprlate to presume the Festlval wlll contlnue In operation.
The trustees, responslbllttle5 Indude keepln8 proper accountln8 records whlch dlsclose wlth
reasonabl• xcuracy at any time the finandal posltlon of th• Festival and en5urin8 the
flnanclal statements comply wlth the Charltles Act 1993. The tntstees are also responslble
for safeguarding the Fe5tlval's assets and hence for taking reasonable steps lor the
preventlon and detectlon of fraud and bfeathes of law and re8ulation.
We hereby appro¥e the financial st*ements and notes set out In followln8 page5 4 to 9
On behalf of the trustees
Jennlfer Hlll
Chalrman
Date: 24.09.2023

YW
Entrylees
Admhsslon￿￿￿ty￿dprcWWM*
ethsl
Fil￿d$
19.615
15,786
342
26
270
1.395
19
638
61
Dgn*kJr&roce
RelUnd.￿n￿ Ch•rps
Refvnd.Trke
a717
Adluth¢atOi's Fees
&764
6.643
2.977
2.570
1.6J9
350
1.791
1,3y)
1.021
Pr1￿. med•15 •itttrorthle5
Ilfe ol Hi115 ￿01￿1$
Me*$ •ndc•terl
lelreshments
In5uiaDce ￿d$ub￿rIpf
PublIc￿lfid
Credlt Ciidltts
O•nk ch¥
Jndtyexpffth
1.410
993
547
-91
296
296
249
314
io
112
52
1,9•1
9fj3
51or4p
Iniynet•nd
157
Z57
6JJ7
slottr•w•r
211
4M7
Q•7
It l)uty2922
5129J
is
atJOJuM 1021

THE WATFORD FESTIVAL OF MUSIC. SPEECH AND DRAMA
BALANCE SHEET
YEAR ENDED 30 JUNE 2023
2023
2022
2021
Total Funds
Unrestricted Fund
General Fund
51,650
48.695 49.947
Restrirted Fund
Watford International Piano Competetion
Susannah Thomas Memorial Fund
Sallie Bowen Memorial Fund
Total Funds
11.0371
591
1.707
3,542
591
591
300
300
51,293 54,380
51,504
Represented by..
Net Assets
COIF Charltles Deposit Fund
Cash at bank
Debtors and prepayments
20,162
31,441
114
19,641 19.605
32,152 33,672
12
1,235
Totol omets
51.717
51,805 54,512
Less.. C￿dItorS and accrued expenses
213
512
132
Total Net Assets
51,504
51,293 54,380
The Notes to the Accounts form part of the Financial Statements. The Financial
Statements comprising the Statement of Financing Artivities, Balance Sheet and
Notes were approved by the Trustees on 24.09.2023 and were signed
on behalf of The Watford Festival of Music. Speech and Drama by..
Jennifer Hill
Chairman
Kirit Patel
Treasurer
Page 5

THE WATFORD FEsllvAL OF MUSIC. SPEECH AND DRAMA
NOTES TO THE FINANCIAL sfATEMENTS
YEAR ENDED 30JUNE 2023
Basls of accountlng
The financial statements have been prepared in accordance with the Charities Arts and the
Statements of Recommended Practice- Accountin8 and RepDrtin8 by Charities (the 'SORP'I and
applicable accountlng standards.
Cash Ilow statement
The Festival qualifies as a small company under the terms of 5ertion 246-249 of the Companies Act
1985. As a consequence, it is exempt from the requirernent5 to publish a Cash Flow Statement
under Financial Reportin8 Standard I Irevisedl "Cash Flow Statement".
Accountln8 poll¢les
The financial statements comprising the FestNal accounts have been prepared under the historical
cost convention and the principal accountin8 policies are as follows..
(al All income and expenditure has been included in the Statement of Financial Activities on an
accrued basis.
Ibl Taxation. The Festival is a registered charity and accordingly is exempt from all forms of
taxation on it5 charitable activities apart from irrecoverable value added tax included on
certain items of expenditure.
Icl Intan8ible income and expenditure. The Festival receives assistance in the form of donated
services of facilities comprising management services by the trustees and other committee
members and services from the independent examiner. No financial quantification for these
servlces has been included in the financbal 5epiices as the amount is not consldered material.
Idl Fund accounting. The Festival's assets are represented by three funds: the unrestricted
General Fund and the three re5trirted funds. the Christopher Duke Memorial Fund , the
Susannah Thomas Memorial Fund and Sallie Bowen Memorial Fund. Details of these are set out
In the Reportof the Trustees- Financial Structure and Review
lel Equipment, signs. medals. trophies and advertisin8 m•terials. All additions are written off in
full upon acquisition with resources expended in the Statement of Financial Activities.
Page 6

THE WATFORD FESTIVAL OF MUSI4 SPEECH AND DRAMA
NOTES TO THE FINANCIAL sfATEMENT51Continued)
YEAR ENDED 30JUNE 2023
Income and eXper￿lture accounts
The Festival classes. competition and concerts, which take place in the Sprin8 of each year.
comprise three operational elements- Speech and Drama. Music and the Watford
International Piano Competition, known previously as The Christopher Duke Competition.
Income and expenditure accounts have been compiled to include the items directly
attributable to those operational accounts and all other non-attributable items
have been included in the General account.
These Income and expenditure accounts are set out in note 5 and 6
A summary of this accounts is as follows:
2023
2022
2021
Income
General Account
Speech and Drama
Music
Watford International Piano Competition
Susannah Thomas Memorial fund
Total income
551
13,719
8.443
470
1.514
3.716
1,652
18.072
1.154
28,718
23,183
6,882
Expendlture
General account
Speech and Drama
Music
Watford International Piano Competition
Su5annah Thomas Memorial fund
Trtal expendlture
8,863
10,841
6,262
2,491
50
28,507
7,436
9,194
7,335
2.305
2,648
2,673
996
26,270
6,317
Surplusfvr the yeor
211
565
Page 7

THE WATFORD FESTIVAL OF MUSIC. SPEECH AND DRAMA
NOTES TO THE FINANCIAL STATEMENTS Icontinued)
YEAR ENDED 30 JUNE 2023
Income and expendlture accounts (continued)
2023
2022
2021
GENERAL ACCOUNT
Income
Friends
Advertising
Bank interest
Donations
Other-8ank Charges Refunded
Total Income
270
638
490
1.395
61
19
100
1.514
551
Expendlture
Programme costs
Prlnting,Postage and Stationery
Refreshments
Insurance and Subscriptions
Bank Charges
Sundry Expenses
Gifts
Storage
Internet & Webslte domain hosting
3.398
1.247
2,977
598
852
83
580
52
1.941
563
99
io
112
1,699
328
314
2,984
257
Total expendltwe
Dejleltfvr the yeor
7.436
{6.8851 11,134)
17.954)
SPEECH & DRAMA
Income
Entries
Tickets & Programmes
Donation
Totol Income
13.190
4,882
8.970
4,749
3,690
26
18.072
13.719
3.716
Speech & Drama - Expenditure
Adjudicators. Fees & expenses
Printin& Postage and StatK)nery
Prizes, medals and trophies
Hire of Halls and Theatres
Meals and Catering
Credit Card processing fees- Stripe
3,885
163
29
6,290
274
200
1,481
365
ioi
7.123
1.810
919
1911
124
35
Total expendlture
10.841
9,193
2,673
Surplusfvr the year
7231
4,525
1,043
Page 8

THE WATFORD FESTIVAL OF MUSIC. SPEECH AND DRAMA
NOTES TO THE FINANCIAL sfATEMENTS (Contlnued)
YEAR ENDED 30JUNE 2023
In¢orne and expendlture accounts (contlnuedl
2023
2022
2021
MUSIC
Income
Entry Fees
Admission rickets and Programmes sales
Donation
Totol incon
5.476
3,108
6.501
1,942
1,652
8,443
1,652
Expendlture
Adjudicators, Fees & expenses
Programme costs
Refreshments
Prlnting, Postage and Stationery
Prlzes, Medals and Trophies
Hire of Halls and Theatres
Meals and catering
Credit Card Fees
Totol expendlture
2.879
4.787
760
230
321
2,010
726
257
104
ICM)
1.210
547
125
7.335
32
6,262
Surplusfvr the yeor
2.322
1.108
656
MUSIC- WATFORD INTERNATIONAL PIANO COMPEnTION
Income
Entrles
Ticket5 & Pro8rammes sales
Donations
Refund -Tickets
rotol Income
960
194
315
155
1,154
470
Expendlture
Adjudicators. fees & expenses
Programme costs
Advertising
Refreshments
Concert performers. prizes
Concert performers, expense5
Hire of Halls and Theatres
Printin& programme and other expenses
Total expendftufe
375
59
950
789
152
2N91
6fgJ
311
2,305
Deficitfvr the prar
(1.337)
11,8351
Page 9

THE WATFORD FESTNAL OF MUSC. SPEECH AND DRAMA
INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF ThE WATFORO FEsnvAL
FOII THE YEAR ENDED 30 JUNE 2023
I report on the flnanclal statements ofthe The Watford Festival of Muslc,Speech and Drama for the
year ended 30th June 2023 whith are set out on pa8e$ 4 to 9.
ReS￿rtIve respon5il)ilfties of trustee ondexominer
As the charity's trustees you are responsible for the preparatSon of the accounts: you COn￿der
that the audlt requlrement of 5ertion 43121 of the Charltles Act 1993 {'the Act") does not
apply and that an Independent examlnatlon Is needed.
It Is rny responsibllity to:
11 examlne the accounts under 5ertion 65 of the Charltles Act
21 follow the procedures lald down In the 8eneral Dirertlons 8lven by the Commlsslon under
sectlon 6519llbl of the Charltles Act
31 state whether partlcuLv rnatters have corne to my attentlon.
My examlnatlon was carried out in accordano with the General Directlons 8l¥en by the
Charlty Commlssloners. An exarnination Includes a revlew of the a¢countln8 records kept by
the Charity and a comparlson of the accounts presented with these records. tt also includes
conslderatlon of irtiusual Items or dlsclosures In the accounts. and seekin8 eMplaftat•ons
from you as trurtees concemln8 any such matters. The procedures undertaken do not
provlde all the e¥Sdence that would be requlred Sn an a￿JIt. and consequently I do not
express an audlt opinion on the vlew 8iven by the accounts.
In connertion wlth my examination. no matter has come to my attention
111 whlch Blves me reasonable cause to believe that in any material respert the requlrements
to keep accountln8 record5 in accordance with Section 31 of the Act, and to prepare
accounts whlch accord with the accountin8 record5 and to comply with th* atcountln8
requlremrt ofthe Act have been met; or
121 to whlch. In my opinion. attention shoud be drawn In order to enable a proper
understandln8 of the accounts to be reached.
R K P3ndya
Chartered Certlfled Accountart
6 Watford Road
Northwood
HA6 3r4A
Date: // = December2023
Page 10