## **Llangollen International Musical Eisteddfod Limited (The)**
## **Report and Financial Statements 30 September 2023**
## **Eisteddfod Gerddorol Ryngwladol Llangollen Cyfyngedig**
**Adroddiad a Datganiad Ariannol 30 Medi 2023**
Salisburys & Company Business Solutions Ltd St Asaph
Registered Number/Rhif Cofrestredig: 1165311 Registered Charity Number/ Elusen Cofrestredig: 504620
LLANGOLLEN INTERNATIONAL MUSICAL EISTEDDFOD (THE) (a company limited by guarantee)
## **Annual report and financial statements for the year ended 30 September 2023**
## **Contents**
Page
- 2 Legal and administrative details
- 3 Report of the trustees
- 6 Report of the independent examiners
- 7 Statement of financial activities
- 8 Balance sheet
- 9 Cash Flow Statement
- 10 Notes forming part of the financial statements
## **Officials**
_Hon Chairman:_ **Sarah Ecob (Resigned 1/12/23)** _Hon Vice Chairman:_ **Chris Adams (Company Secretary 31/1/23)(Chair 1/12/23)** _Hon Treasurer:_
_Hon Company Secretary_
## **Nico DeCourt (Resigned 31/3/23)**
_Lead board member for safeguarding_
**Sarah Ecob**
**Lucy Morris**
## **Directors/Trustees**
S Ecob (Chair) Professor C Adams (Vice Chair) L Morris (Treasurer) N Decourt (Resigned 9/8/23) K. Boydon (Retired 9/8/23) G Carlton J. Gambles L. Jones (Retired 9/8/23)
I. Llewelyn-Jones (Resigned 9/8/23)
K. Young K Price (Appointed August 2023) S Kong (Appointed August 2023) A Davies (Appointed August 2023) D Hennigan (Appointed August 2023) S Ferron (Appointed August 2023) R Cannon (Appointed August 2023)
## **Registered office and operational address**
Royal International Pavilion Abbey Road Llangollen Denbighshire LL20 8SW
## **Solicitors**
Aaron Partners 5-7 Grosvenor Court Foregate Street Chester CH1 1HG
## **Bankers**
HSBC 17-19 Regent Street Wrexham LL11 1RN
## **Independent Examiners**
Salisburys & Company Business Solutions Ltd Irish Square, Upper Denbigh Road St Asaph, Denbighshire LL17 0RN
2
LLANGOLLEN INTERNATIONAL MUSICAL EISTEDDFOD (THE) (a company limited by guarantee)
## **Annual report and financial statements for the year ended 30 September 2023**
## **Legal and administrative details**
## **Name**
The Company’s full name is Llangollen International Musical Eisteddfod Limited (The).
## **Constitution**
The Company (number 1165311) is limited by guarantee and does not have any share capital. The Company is also a registered charity (number 504620).
## **Trustees**
The Company’s directors, as set out on the contents page, are the trustees and are referred to as such throughout.
## **Governing document**
The Company is governed by its Memorandum and Articles of Association, subject to the jurisdiction of the Charity Commission for England and Wales.
## **Names and addresses**
The address of the registered office, and names and addresses of the Company’s professional advisers are given within the contents pages.
## **Trustees’ report**
The Trustees present their annual report and the independently examinated financial statements for the year ended 30 September 2022.
## **Structure, Governance and Management**
## **Governing document**
The Llangollen International Musical Eisteddfod is a company limited by guarantee governed by its Memorandum and Articles of Association, dated 8 December 2021. The Company became a registered charity on 13 October 1975. Membership is open to anyone, subject to approval by the Board. All members agree to contribute a sum not exceeding £1 in the event of the Company being wound up. All Elected Trustees are Members.
## **Organisation and appointment and training of trustees**
The governance of the Eisteddfod is undertaken by the Standing Board, comprising twelve trustees, subject to vacancies. A trustee may be appointed by ordinary resolution at an Election Member meeting and hold office for a maximum of 6 years, after which they must retire. The Standing Board may appoint a trustee, such a trustee must retire at the next Election of Members meeting and may be nominated by the Standing Board for election or appointed as a Trustee by the Standing Board. The selection and recruitment of new trustees is the responsibility of the full Board. New trustees are proactively recruited to meet any skills gaps as identified by the Board.
The Executive Producer is responsible for operational management and artistic developments and reports to the Chairman.
Training of trustees is undertaken through 1:1 meetings with staff and the Chairman, and Board away-days.
## **Related parties**
The Charity has a close relationship with The Friends of Llangollen International Musical Eisteddfod, a separately registered charity which devotes its entire profits to Llangollen International Musical Eisteddfod. In 2023 the Friends pledged £15,000 to the Eisteddfod. Their continued financial support and fundraising activities during the festival and throughout the year are greatly appreciated.
## **Risk management**
The Trustees review the major risks the Charity faces on a continuous basis. The Trustees ensure that sufficient funds are available to meet committed expenditure. Budgets are set at the start of the year and regular budgetary review meetings are held, at which any deviation from budget is considered in detail.
3
LLANGOLLEN INTERNATIONAL MUSICAL EISTEDDFOD (THE) (a company limited by guarantee)
## **Report of the Trustees for the year ended 30 September 2023 (continued)**
## **Objectives**
The objective of Llangollen International Musical Eisteddfod is to promote international harmony and goodwill through the staging of an annual eisteddfod open to competitors from the nations of the world, and thereby to promote education and knowledge of the arts generally to the benefit of the public.
## **People**
The Eisteddfod employs a small team of staff. During the 2022/23 financial year an Executive Producer was employed who was responsible for operational management and artistic developments and reports to the Chairman. This post was made redundant in August 2023. Employees work closely with volunteers throughout the year to deliver the annual event.
Volunteers are integral to the delivery of the Eisteddfod’s business and to the festival itself. Functions operated by volunteers include the following: -
Organising hospitality and Transport for Overseas visitors �Setting up and maintaining floral displays �Assisting in the marketing of the Eisteddfod Controlling ticket sales and Ticketing booths
�Running the Visitor information Centre and selling a range of merchandise
�Stage management, stewarding and ushering during the festival plus assisting in the music office.
�Site maintenance, including Health and Safety organisation and control of stall holders.� �Maintaining an Eisteddfod archive
## **Acheivements and performance**
The 2023 Eisteddfod was the first full 6 day event since 2019. The 2020 and 2021 events were cancelled due to Covid 19 and the 2022 comeback Eisteddfod opened its doors from Thursday to Sunday. In 2023 the Eisteddfod welcomed over 18,687 spectator visitors to the site, and over 3,000 school children from the local area attended the Children’s Day. Many competitors from across the globe were hosted. S4C broadcasted the Choir of the World competition and an Eisteddfod highlights programme. The return of the Parade of Nations was warmly welcomed and will continue to be a key element of the Eisteddfod in future years. The Inclusion Project performance was featured within the evening concert programme and was a highlight for many visitors. Welcoming Ukrainian people as guests, performers and concession stand volunteers was extremely poignant and demonstrated the important role the Eisteddfod can play in placing Wales on the world stage.
The evening concert programme was a mixed success, overall ticket sales were disappointing (see below)
|Concert
Alfie Boe (3,356 tickets)
White Flower (921 tickets)
Propellor Ensemble - Featuring Parad of Nations and Inclusion Project
Guy Barkers Big Band
Choir of the World|Ticket Sales|
|---|---|
||3,356
921
906
913
1,622|
Alfie Boe was welcomed back to the Eisteddfod with a near sell out concert. As always the Choir of the World concert was popular. The White Flower concert featured a massed community choir, performers from Bosnia and Ukraine, and New Sinfonia and was enjoyed by the audience.
## **Financial review**
Financially 2022 and 2023 were very challenging with significant losses made in both years. This is reflective of lower than forecast ticket sales and increasing costs of putting on the event. This has depleted the reserves of the charity.
The charity generated income of £810,269 in the year (2022 - £871,943) and made expenditure of £ 1,027,101 (2022 – 725,266). The net loss for the year was -£216,832 (2022 - £146,677). At 31 September 2023, there were unrestricted funds of £183,069 (2022 - £321,302) and restricted funds of £77,967 (2022 - £156,566).
The grant support received from Welsh Government Major events Unit (£90,000) and the Arts Council of Wales (£80,000) to support the delivery costs of the festival has enabled the organisation to continue in circumstances that had seriously threatened the viability of the organisation.
## **Reserves Policy**
The Charity’s reserves consist of the General Fund, Fair Value Reserve arising from a revaluation freehold land in 2009, and Restricted Funds. Details of these are shown in notes 20, 21 and 22 to the Financial Statements.
4
LLANGOLLEN INTERNATIONAL MUSICAL EISTEDDFOD (THE) (a company limited by guarantee)
## **Report of the Trustees for the year ended 30 September 2023 (continued)**
## **Reserves Policy Continued**
The Charity’s current level of free reserves is £77,071 (unrestricted reserves less tangible fixed assets). This represents the funding available to spend and support core costs of the organisation.
The trustees recognise the importance of maintaining a realistic level of unrestricted reserves to ensure that adequate funds are available to enable the charity to continue in its activities in the event of a drop in funding or a significant setback. The trustees have a general objective that, to safeguard the Eisteddfod reserves should be sufficient to enable the festival to operate for 6 months’ expenditure and the estimated operating costs of the festival. While the current level of unrestricted reserves falls well below this target level, it provides a buffer against financial difficulties as we move into 2024. The Reserves policy and the optimum level of reserves will be considered by the Standing Board in 2024.
## **Plans for future periods**
The Charity has reviewed its business model and has developed a new strategy to stabilise the financial position and to secure the future of the Eisteddfod. For the 2024 event we are expanding the core festival and have entered into partnership with promoter Cuff & Taylor (Live Nation) to deliver concerts at the International Pavilion outside of the Eisteddfod week and to co-promote three high profile concerts during the Eisteddfod. The core ethos of the Eisteddfod will remain and be built on with plans to deliver a multi-faith service during the week with a high profile speaker. Also, we will be working locally with the North East Wales Multi-cultural Hub and groups associated with the Hub will be welcomed to the Eisteddfod to perform and to celebrate their culture. As in future years we will be commissioning a Kaleidoscope Project (formerly the Inclusion Project) which will culminate with a performance on stage at the Choir of the World competition. The competition syllabus has been reviewed and updated and we have formed new connections with partners to improve our global communication. Information has been be shared via all British Council offices as well as through new contacts in Japan, Malta and Hong Kong. Our overall strategy aims to attract new and more diverse audiences to the event.
We are also developing a new income generation strategy which aims to support and build on existing fundraising activities. This includes events and concerts throughout the year which will raise funds and also ensure that the profile of the Eisteddfod is increased. We have reviewed and updated our sponsorship packages and have received funding from Arts Council Wales to appoint a professional fundraiser.
## **Directors’/Trustees’ responsibilities**
United Kingdom Company Law requires the directors, who also act as trustees, to prepare financial statements for each financial year, Select suitable accounting policies and then apply them consistently
Make judgements and estimates that are reasonable and prudent
Prepare the financial statement on the going-concern basis unless it is inappropriate to presume that the company will continue in business.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Company and which enable them to ensure that the financial statements comply with the Charities Act 2011 and the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees have had due regard to guidance published by the Charity Commission on public benefit.
## **Independent Examiners**
The current Trustees have made themselves aware of any information needed for the purpose of the independent examination and to establish that the Independent Examiner is aware of that information. The Trustees are not aware of any relevant information of which the Independent Examiner is unaware.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
A resolution proposing that Salisburys and Company Business Solutions Limited be reappointed as Independent Examiners of the company will be put to the Annual General Meeting.
.......................................................................................... Lucy Morris **For and on behalf of the Board**
Date:……………………………
5
LLANGOLLEN INTERNATIONAL MUSICAL EISTEDDFOD (THE) (a company limited by guarantee)
**Report of the Independent Examiners to the Members of Llangollen International Musical Eisteddfod Limited (The)**
## **Independent examiner's report to the trustees of Llangollen International Musical Eisteddfod Limited (The)**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 September 2023.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
## 2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Aled Owen Roberts
Salisbury & Company
Chartered Accountants
Irish Square Upper Denbigh Road St Asaph Denbighshire LL17 0RN
Date: .............................................
6
LLANGOLLEN INTERNATIONAL MUSICAL EISTEDDFOD (THE) (a company limited by guarantee)
## **Statement of financial activities (including Income and Expenditure Account) for the year ended 30 September 2023**
|**Note**
**Incoming resources**
**Incoming resources from generated funds**
Donations, legacies and similar
incoming resources
4
Investment income
6
**Incoming resources from charitable activities**
Tickets and other sales
3
Sponsorship income
Grants and local authorities
5
**Total incoming resources**
**Resources expended**
Costs of generating funds
Charitable Activities
Site
7
Music and staging
8
Competitors
9
Commercial
10
Governance Costs
11
Other resources expenditure
12
**Total resources expended**
13
Net Incoming resources before
other recognised gains or losses
22
**Net Movement in funds**
**Total funds brought forward**
**Total funds carried forward**
20,21,22
Fair Valuation Adjustment of
Freehold Land|**Unrestricted**
**funds**
£
14,156
717
557,063
10,178
176,600
758,713
1,319
201,157
337,820
134,615
151,423|**Restricted**
**funds**
£
33,815
1,148
16,592
-
-
51,556
-
14,671
79,030
12,925
23,529|**2023**
**Total**
£
47,972
1,865
573,655
10,178
176,600
810,269
1,319
215,827
416,850
147,539
174,952
956,487
4,950
65,664
1,027,101
(216,832)
-
(216,832)
477,869
261,037|**2022**
**Total**
£
95,087
45
415,337
40,000
321,474|
|---|---|---|---|---|
|||||871,943
477
182,557
307,977
45,327
151,517|
||826,333
4,950
65,664
896,948
(138,235)
-
(138,235)
321,304
183,069|130,154
-
-
130,154
(78,598)
-
(78,598)
156,565
77,967||687,855
3,450
33,961|
|||||725,266
146,677
-|
|||||146,677
331,191|
|||||477,868|
There have been no other recognised gains or losses in either the current or previous financial year other than those disclosed above.
All amounts relate to continuing activities.
The notes on pages 10 to 22 form part of these financial statements.
7
LLANGOLLEN INTERNATIONAL MUSICAL EISTEDDFOD (THE) (a company limited by guarantee)
## **Balance Sheet at 30 September 2023**
|**Note**
**Fixed assets**
Tangible assets
15
**Current assets**
Stocks
16
Debtors and prepayments
17
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
18
**Net current assets**
**Total assets less current liabilities**
**Creditors: amount falling due after**
**more than one year**
19
**Income funds**
**General fund**
20/22
**Restricted funds**
21
**Total funds**
**Net assets**|**Unrestricted**
106,000
1,903
111,753
91,405
205,061
(127,994)
77,067
183,067
-
183,066|**Restricted**
-
-
-
105,618
105,618
(27,650)
77,967
77,967
-
77,967|**2023**
**£**
106,000
1,903
111,753
197,022
310,679
(155,644)
155,034
261,034
-
261,034
183,071
77,965
261,036|**2022**
**£**
106,000
2,197
54,000
434,603|
|---|---|---|---|---|
|||||490,800
(118,933)|
|||||371,867|
|||||477,867
-|
|||||477,867|
|||||321,304
156,563|
|||||477,867|
Company Registration Number: 1165311
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
These financial statements were approved by the board of trustees and authorised for issue on 14th February 2024
.......................................................................................... **Date:** Lucy Morris **For and on behalf of the Board**
The notes on pages 10 to 22 form part of these financial statements.
8
LLANGOLLEN INTERNATIONAL MUSICAL EISTEDDFOD (THE) (a company limited by guarantee)
## **Statement of Cash Flow at 30 September 2023**
|**Note**
28
6
15
Interest income
Purchase of tangible fixed assets
Increase in cash and cash equivalents in the
year
**Cash flows from financing activities**
**Total cash and cash equivalents at the end**
**of the year**
**Cash provided by (used in) investing**
**activities**
Cash and cash equivalents at the beginning
of the year
Repayment of borrowings
**Cash flows from investing activities**
**Cash used in financing activities**
**Cash Provided by (Used in) Operating**
**Activities**|**Unrestricted**
(157,188)
717
-
717
-
-
(156,471)
247,877
91,406|**Restricted**
(82,258)
1,148
-
1,148
-
-
(81,109)
186,727
105,618|**2023**
(239,445)
1,865
-
1,865
-
-
(237,581)
434,604
197,023|**2022**
(75,809)
45
-|
|---|---|---|---|---|
|||||45
-|
|||||-
(75,764)
510,368|
|||||434,604|
9
LLANGOLLEN INTERNATIONAL MUSICAL EISTEDDFOD (THE) (a company limited by guarantee)
## **Notes forming part of the financial statements for the year ended 30 September 2023**
## **1 Accounting policies**
## _Accounting convention_
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the
Companies Act 2006. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
## _Going Concern_
The financial statements have been prepared on a going concern basis.
The 2022 and 2023 Eisteddfodau resulted in financial losses; attracting audiences back post pandemic has been a challenge. To The directors have reviewed the company’s performance throughout the period and subsequent to the year end and, as a result believe that the preparation of the financial statements on the going concern basis is appropriate.
## _Charitable trading activities_
Income from ticket sales and other sales revenue are included in incoming resources in the accounting period in which the Eisteddfod takes place.
## _Valuation of fixed assets_
All fixed assets with the exception of land are valued at cost. Land is re-valued periodically by the Trustees and any change in market value is accounted for via the unrealised fair value reserve.
## _Stocks_
Stocks are valued at the lower of cost and net realisable value. Cost is based on the cost of purchase on a first in, first out basis. Net realisable value is based on estimated selling price less additional costs to completion and disposal.
## _General Reserves_
Of the general reserves fund there are £99,275 of Non Distributable funds which have arisen from the fair valuation of land owned by the Eisteddfod.
## _Donations, legacies and other voluntary income_
Donations, legacies and any other form of voluntary income or benefit to the Charity are recognised within the statement of financial activities in the year to which the income or benefit relates.
## _Grants_
Grants, where entitlement is not conditional on the delivery of a specific performance, have been recognised when the charity becomes entitled to the grant. This treatment is in line with the Charity SORP and the charity’s accounting policy.
## _Restricted and unrestricted funds_
Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund, together with a fair allocation of management and support costs.
Unrestricted funds are donations and other incoming resources receivable or generated for the object of the Charity without further specified purpose and are available as general funds.
10
LLANGOLLEN INTERNATIONAL MUSICAL EISTEDDFOD (THE) (a company limited by guarantee)
## **Notes forming part of the financial statements for the year ended 30 September 2023 (Continued)**
## **1 Accounting policies** _**(continued)**_
## _Resources expended_
Expenditure is recognised when it is incurred and is reported gross of related income on the following basis:
Costs of generating funds are those costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.
Charitable activities include expenditure associated with site maintenance, the staging of concerts, competitors’ welfare and commercial activities in relation to the Eisteddfod.
Governance costs relate to aaccountancy and independent examination fees incurred.
Other resources expended relate to irrecoverable VAT written off, which arises due to the company operating a Partial Exemption Scheme.
## _Expenditure allocation and apportionment_
Resources expended are allocated to the particular activity where the cost related directly to that activity.
In instances where resources expended relate to more than one activity, funds are apportioned Commercial 70%, Site 15% and Music and Staging 15%, with the exception of salaries and associated costs where the apportionment relates to the time spent by each member of staff in any activity.
## _Volunteers and donated services_
Where services are provided to the charity as a donation that would normally be purchased from suppliers, this contribution is included in the financial statements at an estimate based on the value of the contribution to the Charity. Donated services and facilities are analysed in note 4.
The value of services provided by volunteers is not recognised in these financial statements.
## _Depreciation_
Depreciation has been provided on all tangible fixed assets, except land, at rates calculated to write off the cost of each asset evenly over its estimated useful economic life, as follows:
Property Improvements and fixtures & Fittings
Property Improvements and fixtures & Fittings 20% on cost Computer Hardware 20% / 50% on cost
## _Pension costs_
Pension costs are charged to the profit and loss account on the basis of the amounts of contributions payable to the defined contribution pension schemes in respect of the accounting period.
## _Irrecoverable VAT_
Income and expenditure is included in the accounts net of VAT. The cost relating to irrecoverable VAT is charged as a single cost to the SOFA.
## _Foreign Expenditure_
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are included within the SOFA.
## _Leased assets_
Where assets are financed by leasing agreements that give rights approximating to ownership (finance leases), the assets are treated as if they had been purchased outright. The amount capitalised is the present value of the minimum lease payments payable during the lease term. The corresponding leasing commitments are shown as amounts payable to the lessor. Depreciation on the relevant assets is charged to the profit and loss account.
Lease payments are analysed between capital and interest components. The interest element of the payment is charged to the profit and loss account over the period of the lease and is calculated so that it represents a constant proportion of the balance of capital repayments outstanding. The capital part reduces the amounts payable to the lessor.
All other leases are treated as operating leases. Their annual rentals are charged to the profit and loss account on a straight-line basis over the term of the lease.
11
LLANGOLLEN INTERNATIONAL MUSICAL EISTEDDFOD (THE) (a company limited by guarantee)
## **Notes forming part of the financial statements for the year ended 30 September 2023 (Continued)**
## **2. Net incoming resources**
|**t incoming resources**||||
|---|---|---|---|
|||**2023**|**2022**|
|**Net incoming resources are stated after charging**||**£**|**£**|
|Independent examination fee||3,950|3,450|
|Depreciation of tangible fixed assets – owned||-|-|
|Hire of plant and machinery|- operating leases|-|-|
||- short-term hires|149,288|81,769|
|Lease of land and buildings||7,000|7,000|
## **3. Tickets and other sales**
|Rents Received
Site Rents
**Tickets and other sales**
Tickets
**Other Income**
Competitors Liaison
Advertising
Booking Fees & Postage & Packing
Floral
Bar Income
Fundraising
Merchandise Sales
Sundries
Parking Income
Programmes
**Other sales**
**Site Income**
Broadcasting|**Unrestricted**
**funds**
**£**
287,063
50,000
337,063
32,899
989
33,888
148,688
1,525
5,092
11,668
-
-
2,634
12,106
4,057
342
37,424
557,063|**Restricted**
**funds**
**£**
-
-
-
-
-
-
14,558
-
-
-
2,034
-
-
-
-
-
2,034
16,592|**2023**
**Total**
**£**
287,063
50,000
337,063
32,899
989
33,888
163,246
1,525
5,092
11,668
2,034
-
2,634
12,106
4,057
342
39,458
573,655|**2022**
**Total**
**£**
195,639
125,000|
|---|---|---|---|---|
|||||320,639|
|||||25,111
989|
|||||26,100|
|||||41,915|
|||||650
6,033
4,521
1,397
151
1,889
8,291
3,723
28|
|||||26,682|
||||||
|||||415,337|
12
LLANGOLLEN INTERNATIONAL MUSICAL EISTEDDFOD (THE) (a company limited by guarantee)
## **Notes forming part of the financial statements for the year ended 30 September 2023 (Continued)**
|**4. Donations**
**5. Grants and local authorities**
**6. Investment income**
Legacies from Prior years
Cultural Recovery Fund
Bank and money market interest
Blakemore Grant
**Grants**
Arts Council of Wales
Friends of Llangollen International
Major Events Unit, WAG
James Pantyfedwyn
MBNA
Hospitality
comp club
Heritage Lottery Fund
HMRC Gift Aid
Legacy - Horne
Legacy - Morgan
Musical Eisteddfod
**Local Authorities**
Floral
Prizes
Donated services
General Donations
Anonymous Donations
Unitary and Community Councils|**Unrestricted**
**funds**
**£**
-
10,530
-
-
-
-
-
-
1,127
2,000
500
-
14,156
**Unrestricted**
**funds**
**£**
4,500
82,100
90,000
-
-
-
-
-
176,600
**Unrestricted**
**funds**
**£**
717
717|**Restricted**
**funds**
**£**
15,000
1,330
-
2,810
13,265
500
910
-
-
-
-
-
33,815
**Restricted**
**funds**
**£**
-
-
-
-
-
-
-
-
-
**Restricted**
**funds**
**£**
1,148
1,148|**2023**
**Total**
**£**
15,000
11,860
-
2,810
13,265
500
910
-
1,127
2,000
500
-
47,972
**2023**
**Total**
**£**
4,500
82,100
90,000
-
-
-
-
-
176,600
**2023**
**Total**
**£**
1,865
1,865|**2022**
**Total**
**£**
36,000
24,479
18,000
2,510
9,036
500
639
-
3,784
-
-
139|
|---|---|---|---|---|
|||||95,087|
|||||**2022**
**Total**
**£**
8,414
200,000
-
75,000
12,000
100
18,000
7,960|
|||||321,474|
|||||**2022**
**Total**
**£**
45|
|||||45|
13
LLANGOLLEN INTERNATIONAL MUSICAL EISTEDDFOD (THE) (a company limited by guarantee)
## **Notes forming part of the financial statements for the year ended 30 September 2023 (Continued)**
|**7. Site Expenditure**
Car Park Costs
Salaries, NI and Pensions
Equipment Hire
Rent & Rates
Postage, Printing and Stationery
Telephones
Sundries
Health & Safety
Exps & Training
Insurance
Canvas & Porta Cabins
Site Decoration
Security & Medical
Maintenance
Temp Power
Floral
Cleaners and Materials
Ushers & Volunteer Costs
Utilities
Depreciation|**Unrestricted**
**funds**
**£**
17,154
9,332
2,684
6,505
10,230
11,644
35,001
-
43,734
40,168
7,685
-
120
8,363
229
1,289
1,264
5,486
269
-
201,157|**Restricted**
**funds**
**£**
11,948
-
-
-
-
-
-
857
-
-
-
1,857
-
-
8
-
-
-
-
-
14,671|**2023**
**Total**
**£**
29,102
9,332
2,684
6,505
10,230
11,644
35,001
857
43,734
40,168
7,685
1,857
120
8,363
237
1,289
1,264
5,486
269
-
215,827|**2022**
**Total**
**£**
22,237
5,755
1,822
4,376
6,365
16,531
25,681
2,187
36,582
38,130
7,159
969
400
7,776
395
1,129
1,656
3,210
197
-|
|---|---|---|---|---|
|||||182,557|
|**8. Music and staging expenditure**
Grant Costs
Telephones
Insurance
Sundries
Staff expenses and training & Recruitment
Volunteers’ meals and expenses
Postage, Printing and Stationery
Depreciation
Concert artists’ fees and expenses
Competitors’ club
Adjudicators, Presenters and Accompanists
Sound Equipment, stageing and lighting
Performing rights
Hire of Halls and instruments
Community days
Salaries, NI and Pensions
Production Manager
Prizes and Trophies|**Unrestricted**
**funds**
**£**
18,593
7,509
124,423
134,689
17,124
350
-
14,033
2,589
8,086
5,228
125
2,013
237
1,289
1,264
269
-
337,820|**Restricted**
**funds**
**£**
14,242
-
35,196
-
-
-
-
-
29,082
-
510
-
-
-
-
-
-
-
79,030|**2023**
**Total**
**£**
32,835
7,509
159,618
134,689
17,124
350
-
14,033
31,671
8,086
5,738
125
2,013
237
1,289
1,264
269
-
416,850|**2022**
**Total**
**£**
26,622
5,310
48,128
145,905
21,150
100
11,645
31,027
8,151
4,775
420
1,367
395
1,129
1,656
197
-|
|---|---|---|---|---|
|||||307,977|
14
LLANGOLLEN INTERNATIONAL MUSICAL EISTEDDFOD (THE) (a company limited by guarantee)
## **Notes forming part of the financial statements for the year ended 30 September 2023 (Continued)**
|**9. Competitors’ expenditure**
**10. Commercial Expenditure**
Bad Debts
Website & IT Costs
Volunteer Costs
Telephones
Insurance
Sundries
Depreciation
Salaries Social Security costs and Pensions
Meals
Group Assistance
Programme, Ticket & Seat label printing
Ticket Agency commission
Staff training
Advertising
Repairs, Servicing and leasing of Equipment
Consultancy & Licence Fees
Public Relations
Bank & Credit Card Charges
Subscriptions
Sponsorship & Corporate Hospitality
Archive & Research
Publicity & Marketing
Advertising Signs & Banners
Postage, printing and stationery
Fundraising costs
Salaries, Social Security costs and Pensions
Staff expenses
Staff expenses & recruitment
**Other**
**Accommodation**
Other Misc. Associated costs
**Transport**
Local coaches
Long-distance coaches|**Unrestricted**
**funds**
**£**
91,626
20,781
15,347
73
-
-
6,783
4
134,615
**Unrestricted**
**funds**
**£**
42,811
45
318
17,503
604
124
-
10,155
4,370
4,950
9,011
5,195
12,029
11,830
3,203
12,810
2,013
1,107
6,017
5,898
1,255
-
0
175
151,423|**Restricted**
**funds**
**£**
450
-
-
1,850
3,600
1,805
5,219
-
12,925
**Restricted**
**funds**
**£**
21,808
-
-
-
-
-
1,722
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
23,529|**2023**
**Total**
**£**
92,076
20,781
15,347
1,923
3,600
1,805
12,003
4
147,539
**2023**
**Total**
**£**
64,619
45
318
17,503
604
124
1,722
10,155
4,370
4,950
9,011
5,195
12,029
11,830
3,203
12,810
2,013
1,107
6,017
5,898
1,255
-
0
175
174,952|**2022**
**Total**
**£**
19,885
5,995
4,140
978
2,950
339
11,027
13|
|---|---|---|---|---|
|||||45,327|
|||||**2022**
**Total**
**£**
46,751
3,481
803
16,681
633
4,665
4,173
4,538
2,292
1,327
17,101
8,000
5,338
6,111
2,605
9,890
1,367
1,843
5,266
7,726
921
-
-
5|
|||||151,517|
15
LLANGOLLEN INTERNATIONAL MUSICAL EISTEDDFOD (THE) (a company limited by guarantee)
## **Notes forming part of the financial statements for the year ended 30 September 2023 (Continued)**
|**11. Governance Costs**
Independent Examination fees
**12. Other Resources Expenditure**
Irrecoverable VAT
**13. Total resources expended**
Site
M&S
Competitors
Commercial
Governance
Other
Bad Debts
Cost of Generating Funds|**Staff Costs**
-
29,102
32,835
12,003
64,619
-
-
-
138,558|**Unrestricted**
**funds**
**£**
4,950
4,950
**Unrestricted**
**funds**
**£**
65,664
65,664
**Depreciation**
-
-
-
-
0
-
-
-
0|**Restricted**
**funds**
**£**
-
-
**Restricted**
**funds**
**£**
-
-
**Other Costs**
1,318
186,726
384,015
135,537
110,334
4,950
65,664
0
888,543|**2023**
**Total**
**£**
4,950
4,950
**2023**
**Total**
**£**
65,664
65,664
**2023**
1,318
215,827
416,850
147,539
174,953
4,950
65,664
0
1,027,101|**2022**
**Total**
**£**
3,450|
|---|---|---|---|---|---|
||||||3,450|
||||||**2022**
**Total**
**£**
33,961|
||||||33,961|
||||||**2022**
477
182,557
307,977
45,327
151,517
3,450
33,961
-|
||||||725,266|
|**14. Employees**
Staff costs consist of:
Wages and salaries
Social Security Costs
Pensions
Administration
Marketing
No Individual employee was paid £60,000 per annum or above.
The average number of employees, analysed by function, was:|**2023**
**£**
122,032
10,662
5,864
138,558
**2023**
5
1
6|**2022**
**£**
93,265
8,886
4,485|
|---|---|---|
|||106,636|
|||**2022**
4
1|
|||5|
None of the Trustees received any remuneration during the year. Total out of pocket expenses of £nil were reimbursed to Trustees during the year (2023 - £nil).
16
LLANGOLLEN INTERNATIONAL MUSICAL EISTEDDFOD (THE) (a company limited by guarantee)
## **Notes forming part of the financial statements for the year ended 30 September 2023 (Continued)**
## **15. Fixed assets**
|_Net book value_
_Cost or valuation_
At 1 October 2022
_Depreciation_
At 1 October 2022
Charge for the year
At 30 September 2023
At 30 September 2022
Additions|**Freehold**
**Property**
**Land**
**Improvements**
**£**
**£**
106,000
75,953
-
-
106,000
75,953
-
75,953
-
-
-
75,953
106,000
-
106,000
-|**Plant and**
**Equipment**
**£**
302,892
0
302,892
302,892
-
302,892
-
-|**Total**
**£**
484,845
0|
|---|---|---|---|
||||484,845
378,845
-|
||||378,845|
||||106,000|
|||||
||||106,000|
The Trustees have confirmed that at the year end the market value of the freehold land is not significantly different to the net book value.
Comparable amounts determined according to the historical cost convention are as follows:
|_Cost_
Accumulated depreciation
_Net Book Value at 30 September 2023_
_Net Book Value at 30 September 2022_|**Freehold**
**Land**
**£**
6,725
-
6,725
6,725|**Property**
**Improvements**
**£**
75,953
(75,953)
-
-|**Plant and**
**Equipment**
**£**
302,892
(302,892)
-
-|**Total**
**£**
385,570
(378,845)|
|---|---|---|---|---|
|||||6,725|
|||||6,725|
|**16. Stocks**
Merchandise
Trophies|**Unrestricted**
**funds**
**£**
1,217
686
1,903|**Restricted**
**funds**
**£**
-
-
-|**2023**
**Total**
**£**
1,217
686
1,903|**2022**
**Total**
**£**
646
1,551|
|---|---|---|---|---|
|||||2,197|
17
LLANGOLLEN INTERNATIONAL MUSICAL EISTEDDFOD (THE) (a company limited by guarantee)
## **Notes forming part of the financial statements for the year ended 30 September 2023 (Continued)**
|**17 Debtors and prepayments**
**Unrestricted**
**funds**
**£**
Debtors
107,261
Prepayments and accrued income
4,492
111,753
**18 Creditors: amounts falling due within one year**
**Unrestricted**
**funds**
**£**
Creditors
68,591
Accruals and deferred income
50,285
VAT
9,118
127,994
**19 Creditors: amounts falling due after more than one year**
**Unrestricted**
**funds**
**£**
Long term Creditors
-
**20 General fund**
Balance at 1 October 2022
Surplus on income and expenditure account
Balance at 30 September 2023|**Restricted**
**funds**
**£**
-
-
-
**Restricted**
**funds**
**£**
-
27,650
-
27,650
**Restricted**
**funds**
**£**
-|**2023**
**Total**
**£**
107,261
4,492
111,753
**2023**
**Total**
**£**
68,591
77,935
9,118
155,644
**2023**
**Total**
**£**
-
**£**
222,031
(138,235)
83,796|**2022**
**Total**
**£**
53,224
776|
|---|---|---|---|
||||54,000|
||||**2022**
**Total**
**£**
15,488
96,554
6,890|
||||118,933|
||||**2022**
**Total**
**£**
-|
|||||
## **21 Restricted funds**
## ACW Connect & Flourish
Connect and Flourish Profect works with a diversity of voices, cultures, and languages in Wales.
## ACW Strategic Grant
Grant received from Arts Council of Wales towards the strategic implementation of the Executive Producer position, alongside other key personnel.
## Archive
Donations & grants received specifically to develop the LIME archive. During this period a Heritage lottery grant has been used towards digitalising our archive materials
## Assitance from Friends
Donations received from Friends during the Covid 19 Period we given to assit in the cost of Core Staffing as we moved forward to re open following the hiatus caused by the pandemic
## Cefn Bryn Bequest
The income from this bequest is used to purchase flowers for the Eisteddfod.
18
LLANGOLLEN INTERNATIONAL MUSICAL EISTEDDFOD (THE) (a company limited by guarantee)
## **Notes forming part of the financial statements for the year ended 30 September 2023 (Continued)**
## **21 Restricted funds** _**(continued)**_
## Childrens Day Grant
Grant received to assist with the costs of the childrens enterainment and other associated costs of childrens day.
## Competitors’ Bursaries
Funds received by way of donations towards both our Bursary Scheme and our Gift to the World Scheme. The monies are used to help towards the costs incurred by competitors from less privileged countries.
## Floral
Restricted income arises from donations specifically received for floral purchases and funds received from floral sales. Any monies not used by the Floral Committee in the year are carried forward.
## Future Eisteddfod
Monies received during the year to assist with putting on an Eisteddfod when we are able following the covid-19 pandemic
## Hospitality
Monies received from the Hospitality Committee by way of donations and fundraising events and activities. Monies are to be spent on items requested by Hospitality Committee.
## Peace Message and Competitors’ Club
Donations received specifically for use in these areas.
## Prize Funds
Monies received by way of donations or grants to pay for prizes.
## Reach Out Project
Monies received to attract young people from Communities First areas to volunteer with the Eisteddfod.
## Site Development Fund
Monies received to invest in making the Eisteddfod field more eye catching
## Town Decoration
Money received from the local authority to assist in the costs of decorating the town in readyness for the Eisteddfod
## Volunteer Assistance
Donation received with the expressed request that the monies are spent on items that will assist the volunteers and staff in carrying out their day to day duties.
## Volunteer Development
Monies for up-skilling volunteers and providing travelling expenses for ambassador volunteers, and also used for promoting volunteer opportunities, in 2023 the funds were used to pay for the volunteer co ordinator to carry out volunteer training for all our volunteers.
19
LLANGOLLEN INTERNATIONAL MUSICAL EISTEDDFOD (THE) (a company limited by guarantee)
## **Notes forming part of the financial statements for the year ended 30 September 2023 (Continued)**
|**21 Restricted funds (Continued)**
**22. Fair Value reserve**
Freehold and leasehold land
Archive Project
Assistance from Friends
Cefn Bryn Bequest
Competitors Bursaries
Donations & Services in kind
Floral
Future Eisteddfod Events
Hospitality
Peace message & Competitors Club
Prize Funds
Reach out project
Volunteer Assistance
Volunteer Development
ACW Stategic Grant
ACW Connect & Flourish Grant|**Balance at**
**1 Oct 2022**
**£**
29,000
30,209
5,522
5,301
18,764
5,839
-
5,116
34,939
1,925
975
10,650
704
2,374
2,218
156,563
**Balance at**
**1 Oct 2022**
**£**
99,275|**Income**
**£**
-
222
121
15,252
-
793
2,810
2,709
256
924
7
27,902
5
517
16
51,556
**Revalued**
**in Year**
**£**
-|**Expenditure**
**£**
-
30,431
1,722
20,552
-
3,600
2,810
1,857
35,196
1,125
-
29,082
-
689
2,235
130,154
**Balance at**
**30 Sept 2023**
**£**
99,275|**Balance at**
**30 Sept 2023**
**£**
29,000
-
3,921
-
18,764
3,032
-
5,967
-
1,724
982
9,470
709
2,203
-|
|---|---|---|---|---|
|||||77,965|
||||||
20
LLANGOLLEN INTERNATIONAL MUSICAL EISTEDDFOD (THE) (a company limited by guarantee)
## **Notes forming part of the financial statements for the year ended 30 September 2023 (Continued)**
## **23. Analysis of net assets between funds**
|At 30 September 2023
Restricted funds:
ACW Connect & Flourish Grant
Archive Project
Cefn Bryn Bequest
Competitors Bursaries
Floral
Hospitality
Peace message & Competitors Club
Prize Funds
Reach out project
Site Development Fund
Volunteer Assistance
Unrestricted Funds
Balance|**Tangible**
**fixed assets**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
106,000
106,000|**Net current**
**assets**
**£**
29,000
3,921
18,764
3,032
5,967
1,724
982
9,470
709
2,191
2,203
77,965
77,066
155,031|**Long-term**
**liabilities**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
-|**Total**
**£**
29,000
3,921
18,764
3,032
5,967
1,724
982
9,470
709
2,191
2,203|
|---|---|---|---|---|
|||||77,965
183,066|
|||||261,031|
## **24. Connected Charity**
Friends of Llangollen International Musical Eisteddfod is a separately registered charity which devotes its entire profits to Llangollen International Musical Eisteddfod. The assets and liabilities of this Charity are not included on the Balance Sheet of this Company.
During the course of the year LIME collected £1,078.75 income for Friends and made payments of £9,494.89 on their behalf. Following an interim payment in march the balance of this was paid in full shortly after the year end.
## **25. Operating lease commitments**
The Charity has no non-cancellable operating lease commitments.
## **26. Pensions**
The Charity contributes to a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in independently administered funds. The pension charge represents contributions payable by the Charity to the funds and amounted to £8,678 (2022, £4,485).
## **27. Taxation**
The company is a registered charity and no provision is considered necessary for taxation.
21
LLANGOLLEN INTERNATIONAL MUSICAL EISTEDDFOD (THE) (a company limited by guarantee)
## **Notes forming part of the financial statements for the year ended 30 September 2023 (Continued)**
## **28. Reconciliation of net movement in funds to net cash flow from operating activities**
|Deduct interest income shown
Decrease (increase) in stock
Decrease (increase) in debtors
Increase (decrease) in creditors
**Net cash provided by (used in)**
**operating activities**
Add back depreciation charge
Net movement in funds|**Unrestricted**
**funds**
(138,233)
-
(717)
293
(57,753)
39,222
(157,188)|**Restricted**
**funds**
(78,598)
-
(1,148)
-
-
(2,511)
(82,257)|**2023**
**Total**
(216,831)
-
(1,865)
293
(57,753)
36,711
(239,444)|**2022**
**Total**
146,679
-
(45)
2,157
43,273
(267,872)|
|---|---|---|---|---|
|||||(75,808)|
||||||
## **29. Support Costs**
|Commercial Salaries & Staffing Costs
Marketing Activities
Office Costs
Consultancy & Legal Costs
Banking & Administration Costs|**Unrestricted**
**Restricted**
**2023**
**2022**
**funds**
**funds**
**Total**
**Total**
45,186
21,808
66,994
52,401
38,408
-
38,408
31,178
24,392
1,722
26,114
24,698
9,011
-
9,011
17,101
29,757
-
29,757
19,175|
|---|---|
||146,754
23,529
170,283
144,553|
## **30. Related Party Transaction**
There were no related party transactions during the year.
## **31. Capital Commitments**
As at 30 September 2023 the charitable company had no capital commitments (2022: £nil)
## **32. Legal Status of the Charity**
The charitable company operates as a registered company limited by guarantee, the number of guarantees being 368. The liability of each guarantor is limited to £1.
## **End of Report**
22
LLANGOLLEN INTERNATIONAL MUSICAL EISTEDDFOD (THE) (a company limited by guarantee)
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23
LLANGOLLEN INTERNATIONAL MUSICAL EISTEDDFOD (THE) (a company limited by guarantee)
24