THE WATFORD FESTIVAL OF MUSIC, SPEECH AND DRAMA
REPORT AND ACCOUNTS
FOR THE YEAR ENDED
30 JUNE 2025

THE WATFORD FESTIVAL OF MUSIC, SPEECH AND DRAMA
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 30 JUNE 2025
Report of the Trustees
Statement of Financial Artivitie5
Balance Sheet
General Notes to the Financial Statements and Accounting policie5
Income and Expenditure Accounts
Income and expenditure - General Account and Speech and Drarna
Income and expenditure- Music and Watford Intemational Piano Competition
Report of the Independent Examiner
io

THE WATFORD FESTIVAL OF MUSIC, SPEECH AND DRAMA
REPORT OF THE TRUSTEES
YEAR ENDED 30 JUNE 2025
The trustees have pleasure in presenting their report and the financial statements for the year
ended 30 June 2025. This report and the financial statements have been prepared in accordance
with the standards set out in the Statement of Recornmended Practice for accounting for charities,
Issued by the Chaflty Commissioners for England and Wales.
Objective ond Str¢7tegy
The primary aim of The Warford Festival of Music. Speech and Drama I"The Festival") is to promote the
education of the public in the arts, in particular with regard to music, speech and drama. The Festival
provides an opportunity for people, mainly young people, to take part and benefit from entering classes
on a competitive basis with professional adjudication together with the chance also to perform at
concerts and finales before a public audience. All the income and property of the Festival is applied
towards the aims as set out above.
Chority Details
The full name of the charity is the "The Watford Festival of Music, Speech &.Drama" which also has
a working name of, Watford Music Festival ' The Festival is an unincorporated association with a written
constitutution as its governing document and is controlled by a committee of officer trustees.
It is a registered charity with the Charity Commission (Registration Number 2849941.
None of the trustees receive any remuneration or benefit in respect of their duties on behalf of the Festival.
The trustees of the Festival are apF)ointed by the Board of Trustees and Committee.
Those trustees who have served during the year were:
Jennifer Hill (Chairman)
Peter Waters (Honorary Secretary)
Sanjay Kulkarni (Honorary Treasurer)
Tony Berry IFriends' Secretary)
Anthea Spensley (Committee Member.}
In addition, other committee members and section leaders for the Festival who served during the year were..
Riyazi Mulammil (Minutes Secretary)
Jan Bailev Ichorall
Dan Collins1Speech & Drama)
Jeff and Amanda Kaliski (Piano)
Sivayinee Krishnakumar (Committee Member)
Adrianne Landsman (Strings)
Ayelet Yuchetel (Wind and Brass)
Melis Omeroglu (Watford International Piano Competition)
Fiona Tong (Vocall
Vinay Sajip Iwebsitel
Neeta Sajip (Safeguarding Coordinator)
The section leader5 and other committee members attended the regular management committee
meetings throughout the year.
Page I

THE WATFORD FESTIVAL OF MUSIC, SPEECH AND DRAMA
REPORT OF THE TRUSTEES
YEAR ENDED 30JUNE 2025
The Festival's bankers for the year were
Leeds Buildin8 Society, 26 Sovereign Street. Leeils. LSI 4BJ
HSBC Bank plc. 73 Watford High Street.Watford,WD17 2DS
Funds ère also deposited with COIF Charities Dep051t Fund at One An8el Lane. London, EC4R 3AB.
The Independent Examiner is to be confi¥med.
Reserves Policy
Although the Festival operates on a not-for-profit basis. sufficient ￿SeNe5 have been
buili up over the years to ensure than any toniingent or unexpected liaibility could be met
and that commitments for future Festival auivities can be undertaken with confidence.
The trustees consider that the level of reserves in respect of ihe unresiricted funds which
15 equal to approximately one year's expenditure. to be appropriate and sufficient.
Risk Monugement
The trustees have examined if there are any major risks the Festival faces and consider that.
apart from pvblic liability for which there is insurance. the Festival's management
committee review5 and reports ensure ihai no major risk ts likely to arrse or if it did that
immediate action would be taken to minimise the extent of any risk.
Finonciol Strurture ond Review
The state of the linancial affairs of the Fesiival as at 30 lune 2025 were satisfaclory.
The Total Income ol the Festival in 2025 was £46.88512024- £36.(X)51 and the Total Expenditure
for 2025 was £39.58512024- E34.0741 resulting in a surplus of £7.299 for 2025 compared with
a Surplus of £1.932 in 2024.
The trustees will continue with the poliry of annualty increasing entry fees as necessary, to meet
any rising inflationary pressures from overall expenditu￿.
Pa8È 2

THE WATFORD FESTIVAL OF MUSIC, SPEECH AND DRAMA
REPORT OF THE TRUSTEES
YEAR ENDED 30JUNE 2025
The Festival operates three funds as follow5=
lal General Fund- an unrestricted fund for general purposes.
Ibl The Watford International Piano Competition- a restricted fund created to establish a memorial
in the lorm of a piano competition Ipreiviously known as the Christopher Duke competition) for the
late Christopher Duke. a highly talented pianist who died at the age of 26.
Icl The Su5annah Thomas Meynorial Fund - a restricted fund to provide an annual prize for an
outstanding perfomiènce on the tello.
Idl The Sallie Bowen Memorial Funip a restricted fund to provide an annual prize for an outstanding
performance in the string Section.
Any immaterial deficits which arise on the restricted funds are offset by transfers ffom the
General Fund in order to maintain the level of the restricted lunds as Stat￿ at the beginning
of any financial year.
Statement of Trustees, Re5ponsibilitAe5for the Finunciolstotements
The law applicable to charities in England and Wales requires trustee5 to prepare financial
statements for each financial year which grvÈ a true and fair View of the Festival's incoming
resources and application of resources during the yèar and of its slate of affairs at the end
of the year. In prepa¥ing those financial statements they are required to select suitable
accounting policies and then apply them consistently. make judgements and estimates that
are ￿aSonable and prudent. state whether applicable accounting standards and statements
of recommended practice have been followed subjert to any material departures disclosed
and explained in the financial statements, and prepare the statements on a 'Èoin8 concern"
basis unless it ts inappropriate to presume the Festival will continue in operation.
The trustees, responsibilities include keeping proper accounting records which disclose with
reasonable accuracy at any time the financial position of the Festival and ensuring the
financial statements comply with the CharFties Act 1993. The trustees are also responsible
for safeguardin8 the Festival's assets and hence for taking reasonable step5 for the
prevention and detection gf fraud and breaches of law and regulation.
We hereby approve the financial Statements and notes set out in followin8 pages 4 to 9
On behalf of the trustees
jennifer Hill
Chairman
18.03.2026
Pa8e 3

THE WATFORD FEsnvALOF MLISIC, SPEECH AND DRAP4tA
SIATEME14T OF FINANCIALACllVmES
YEAR EIIDED aoJuNE 2025
Tot•1 Fund5 Total Fund5 Total Funds
2025
2023
Entry lee5
Admission tickets and yo8r4rnrne
Ad¥ertl5ing
17,531
15.667
1.495
29.026
15.747
22.171
12.355
19.625
8.184
465
1.647
465
1,647
385
Z70
638
8ank and deposit intorest
Refund-8ank Charges
Refund- Ticket5
45,JlQ
L57S
36D)5
Z8.717
Arcompanist Ftr5
Adjudicator's Feesandexpen5e5
Prosrammec05ts
Priniing. P05tage & Stationery
Priie5. medals and trophie5
Hlre of Hallsand Theatres
Mea15 and tatErin8
Refreshments
Insurance and Sub5EriPtions
Publicity and prOTh￿10n
Credit Card lee5
Bank chafies
Sundryexpen5e5
Gift5
Storage
Internet and domain hosiini
rrtqlre5pvrir5 txptnded
632
7.874
3.357
3.335
1.876
12.530
1.507
8,S74
3.357
3.493
3.104
13.246
8,360
3.395
1.616
2,S42
11.325
1.928
7.364
3.398
1.791
1,350
9.089
158
1.229
716
377
653
653
674
231
424
63
289
598
525
525
57
$87
296
57
314
2￿79
947
2A79
547
a9.S85
2.549
2,984
257
28,51
3.179
34.074
Syrplu5 forthe ye•r
7.299
1.931
211
Tr¥nsfw between fund
Net Incomlns re50u¥ce5 beh¥ ThEt
￿￿VeMent in fund
1.93Z
211
Fund ealances brouihi forward
55,999
-3.264
591
iio
53.436
51,504
51,293
￿1•￿(4$ tarrkdlo*wa
at 30June 20Z4
591
iio
60.735
S3,436
51,504
The Wètford Festival has no recogni5ed gains or1055e5thher than those in¢ludtd In th￿ab￿e StatemeDr
of Financial Actiwtie5 and there is no difference between the r*t Èwnded lor iheyeara5
shown in thestatemem of Financial ActMrie5andthwrht5rry*4cottegV￿d1ÈTrty.
Pa8t4

THE WATFORD FESTIVAL OF MUSIC. SPEECH AND DRAMA
BALANCE SHEET
YEAR ENDED 30 JUNE 2025
2025
2024
2023
Totol Funds
Unrestrirted Fund
General Fund
64.902
55,999 51,650
Restricted Fund
Warford International Piano Competetion
Susannah Thomas Memorial Fund
Sallie Bowen Memorial Fund
Total Funds
14,8681
591
iio
60.735
13,2641 11,0371
591
591
iio
300
53.436 51.504
Represented by..
PletAssets
COIF Charities Dew)%it Fund
Cash at bank
Debtors and prepayments
21.967
42,701
244
21.2CKI 19.641
34,484 32,152
129
12
Total ossets
64.912
55,813 51,805
Less.- Creditors and accnJed expenses
4.177
2.377
512
Total Net Assets
60.735
53.436 51,293
The Notes to the Accounts form part of the Financial Statements. The Financial
Staiements comprising the Statement ol Financtrng Activities. Balance Sheet and
Notes were approved by the Trustees on 28.09.2025 and were signed
on behalf of The Watford Festival of Music, Speech and Drama bv=
Jennifer Hill
Chairman
sanjay Kulkamr
Honorary Treasurer
P￿5

THE WATFORD FESTIVAL OF MUSIC, SPEECH AND DRAMA
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2025
Basls ol ac(ounting
The financial statements have been prepared in accordance with the Charities Acts and the
Statements of Recommended Practice- Accounting and Reporting by Charities Ithe"SORP"l and
applicable ateounting Standard5.
Cash flow statement
The Festival Qualifies as a small company under the tem)s of Section 246-249 of the Companie5 Att
1985. As a consequence. it Is exempt from the requirements to publish a Cash Flow Statement
under Financial Reporting Standard I Irevi5edl "Cash Flow Statement"
Attoutttlng pollcles
The financial statèments comprisin8 the Festival accounts have been prepa￿d under the historical
C05t convention and the principal accounting poliues afe as follows-
lal All income and expenditure has been included in the Statement of Financial Artivittes on an
accrued basis.
Ibl Taxation. The FestNèl is a regiSte￿d charity and atcordingly is exempt Irom all forms of
taxation on its charitable activities apart from irrecoverable value added tax included on
¢ertain items of expenditure.
Icl Intangible income and expenditure. The Festival receives a55i5tance in the form of donated
seryices of lacslrtie5 Comprising management seNices by the trustees and other committee
members and services from the independent examiner. No financial quantification for these
seryice5 has been included in the financial services as the amount is not considered material.
Idl Fund accounting. The Festival's assets are represented by three funds,. the unrestricted
General Ftjnd and the three restricted funds, the Christopher Duke Memorial Fund , the
Susannah Thomas Memorial Fund and Sallie Bowen Memorial Fund. Details of these are Set out
I￿ the Reportof the Tru5tee5- Financial Stnjcture and Ileview
lel Equipment, sign5. medals, trophies and advertising materials. All additions are written off in
full upon acqui51tion with resources expended in the Statement of Financial Activtties.
Page 6

THE WATFORD FESTIVAL OF MUSIC, SPEECH AND DRAMA
NOTES TO THE FINANCIAL STATEMENTS (Continued)
YEAR ENDED 30 JUNE 20Z5
Incom¢ and expenditure a¢counts
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 a¢count5 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 account5 is as follows..
20ZS
2024
2023
Income
General Accour¢t
Speech and Dr3ma
Music
Watford International Piano Competition
Susannah Thomas Memorial fund
Total income
2.342
22,522
29.445
1.575
1.888
17,562
15,494
1,062
908
18.072
8,584
1,154
46,885
36.006
28.718
Expenditure
General account
Speech and Drama
Music
Watford International Piano Competition
Susannah Thoma5 Memorial fund
Total expenditure
12.075
15.271
9,060
3,179
8,863
10.841
6.262
2,491
50
28,507
13.496
8,941
3,289
39,585
34,074
7.299
1,932
211
Surplusfvrthe yeor
Page 7

THE WATFORD FESTIVAL OF MUSIC, SPEECH AND DRAMA
NOTES TO THE FINANCIAL STATEMENTS (Continued)
YEAR ENDEO 30 JUNE 2025
Income and èxptndltvrt atcounts Icontinutd)
2025
2024
2023
GENERALACCOUNT
Income
Friends
Programme Sale5
Advertisin8
Bank intèrest
Oonations
Other-Bank Charges Rehjnded
Totol in¢ome
Expendlture
Programme costs
Printing.Postage and Stationery
Refreshments
Insurance and subscriptions
Credit card fees
Bank Charges
Gift5
Hire of Halls and Theatres
Stor3Be
Internet & Website domain hostinB
Sundry Expenses
465
230
385
409
270
638
1,647
1.094
2.342
908
3.357
2.313
153
6S3
3,395
1,322
3,398
1,247
598
674
io
57
63
75
2.879
547
587
2.549
46
289
2,984
257
314
Totslexpenditure
Deficitfor the year
12.075
19,7321
8.348
8.863
16.4601 17,9541
SPEECH & DRAMA
Income
Entry Fees
Tickets & Programmes
Totallncome
15.336
7.186
22,522
11.644
5,917
17.562
13.190
4.882
18,072
Speech & Drama- Expenditure
Adjudicators. Fees & expenses
Printin8. Postage and Ststionery
Prizes, rnedals and trophies
Hire of Halls and Theatres
Meals and Catering
Credit Card processing fees- Stripe
Sundry Expenses
Total expenditure
4,157
476
252
9.208
901
278
3,536
3,885
163
790
7.222
1.$44
224
29
6,290
274
200
15.271
13,496
10,842
Surpluslor the yeor
7,250
4,066
7,231
Page 8

THE WATFORD FESTIVAL OF MUSIC, SPEECH AND DRAMA
NOTE5 TO THE FINANCIAL STATEMENTS {Continued)
YEAR ENDED 30 JUNE 2025
Income and expenditure accounts Icontlnued}
2025
2024
2023
MUSIC
Income
Entry Fee5
Admission Tickets. Programmes sales and Accompanists fees
Total Income
12.195
8,250
20.445
9,747
5,747
15,494
5,476
3,108
8.584
Expenditure
Accompanist Fees
Adjudicator5' Fees & expense5
Printing, Postage and Stationery
Prizes, Medals and Trophies
Hire of Halls and Theatres
Meals and catering
Credit Card Fees
Sundry Expenses
Totcl expendlture
632
3,749
48
761
3,227
335
189
3,717
546
176
3,247
453
241
2.879
230
321
2,010
726
96
9.060
8,941
6.262
Surplu5Aor the yeor
11.386
6,553
2.322
WATFORD INTERNATIONAL PIANO COMPEnTION
Income
Entries
Tickets & Programme5 sales
Total incorne
1.495
80
1.575
780
282
960
194
1.154
1.062
Expenditure
Adjudicators, fees & expenses
Publicity & Promotion
Advertising
Refreshments
Concert performers, prizes
Hire of Halls and Theatres
Mea15 & Catering
Printin& programme and other expenses
Total expenditure
7(K)
1,075
231
600
377
1.229
716
990
877
950
789
49
67
3.289
158
3,179
152
2,491
Deficitfor the yeor
11.6041
12.2271 11,3371
Page 9

THE WATFORD FESTIVAL OF MUSIC, SPEECH AND DRAMA
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE WATFORD FESTIVAL
FOR THE YEAR ENDED 30 JUNE 2025
I report on the finantlal staternents of the The Watford Festival of Music,Speech and Drama for the
year ended 30th June 2025 which are set out on page$ 4 to 9.
Respertive re5ponsibilitres of trustee ond examiner
As the charity's trustees you are responsible for the preparation of the accoynt5.' you consider
that the audit fequirement of section 43121 of the Charities Act 19931.the Act") does not
apply and that an independent examination is needed.
It 15 my responsibility to=
11 examine the accountsijnder sertion 65 of the Charitres Att
21 follow the procedyre5 laid down in the general Dirertions given by the Commission under
section 6519llbl of the Charitie5 Aci
31 state whether particular matters have come to my attention.
My examination wa5 carried out in accordance with the General Direttions gNen by the
Charity Commis5i0ners. An examination includes a review of the accounting records kept by
the charity and a comparison of the accounts presented with these records. It also include5
consideration of any unusual iterns or disc105ures in the accounts, and seeking explanations
from you as trustees concerning any such matters. The procedures undertaken do not
provide all the evidence that would be ￿quired in an audit. and consequently I do not
express an audit opinion on the view given by the accounis.
Independent exominer's stotement
In connection with my examination. no matter has come to my attention
111 which gives me reasonable cause to believe that in any material respect the requirements
to keep accourbtTrng record5 in accordance with Settion 31 of the Act. and to prepare
accounts which accord with the accounting records and to comply with the 3ccount4ng
requirements of the Act have been met.. or
121 to which, in my opinion. attention shoud be drawn in order to enable a proper
understanding of the accounts to be reached.
18.03.2026
Hemel Shah
Chartered Accountant
15 Hillcfest Avenue
Edgware
Middlesex
HA8 8NZ
Page 10