REGISTEREO COMPANY NUMBER.. 01437526 (England and Wales) REGISTERED CHARITY NUMBER: 509023 Report of the Trustees and Unaudlted Flnanelal Statements for the Year Ended 31 December 2023 for North Wales Internatlonal Muslc Festlval Llmlted Salisbury & Company Chartered Accounlanls Irish Square Upper Denbigh Road st Asaph Deribighshire LL17 ORN
North Wales International Muslc Festlval Llmlted Contents of the Flnanclal Statements for thè yèar ènded 31 Dacombor 2023 Page Report ofthe Trustees Independent Examlner's Report statement of Flnanclal Actlvltles Balance Sheet Notes to the Flnanclal Statements 9 to 13 Detalled Statement of Flnan¢lal Actlvltles 14
North Wales Internatlonal Muslc Festlval Llmlted Report of the Trustees for the year ended 31 December 2023 The trustees who are also directors of the charity for the purposes of the Companies Act 2006. present their report with tr)e financial statements of the charity for the year ended 31 De¢ember 2023. The trustees have adopted the provisions of A¢¢ounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparin9 their accounts in accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20151. OBJECTIVES AND ACTIVITIES Objectlves and alms The company is established for charitable purposes, namely the promotion, maintenance, improvement, and advancement ol education, particularly by the promotion of educational musical concerts and the encoLiragemenl of the Arts, including the Arts ol music, ballet, singing, dr2ma, mime, dancing and the formulation, preparation and establishment of schemes therefore and in furtherance of the foregoing objects. The objectives of the charity are to.. serve the existing core audience develop new audiences and increase accessibility to include those who would not access high sl8ndard music engage directly vilh the community provide a platform for well-es18blished and up and coming Welsh performers and the music of Welsh composers conts'nue to utilise the magnificent acoustics of Sl Asaph C8thedr81 ensure close integration with the Festival marketing strategy The overriding aim of the Festival is lo provide as wide as possible a cross-section of the communities of North Wal85 with the opportunity to experience live performances of classical music given by the perforiners of the highest quality. This document outlines the central strands of artistic policy which govern the programmin9 for the Festival in order to achieve this objective. The Iruslees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives and in plaTrning future activities and setting Ihe programming policy for the year. Slgnlflcant actlvllles The strategies employed to achieve the Charity's objectives are to provide a wide variety of Programming and provide a platt orm for Vvelsh Pertormers and Composers. After celebrating 50 glorious years in 2022 the 2023 North Wales International Music Festsval marked the threshold of new horizons as, after a 20 year tenure, Ann Atkinson stepped down as the Artistic Director this festival. This was the end of a major chapter in the Festival's history. To celebrate this Festival the invited artists included Vocal Ensemble Tenebrae, Mugenkyo Taiko Dru mmers, Kabantu Folk Band. Trelawnyd & Bro Glyndwr Male Voice Choirs. Dee Sign 8SL Choir, Pedair - Gwen8n Gibbard, Gwyneth Glyn, Meinir Gwilym & Sian James, Welsh Poet Aled Lewis Evans, NEW Sinfonia, NEW Voices Choir & Conductor Robert Guy, Violinist Tai Murray IUSAI, Pianist Teleri Sian. Pianist Janina Fialkowska18avarial, H arpist Calrin Finch & Violinist Aoife Ni Bhrain Ilrelandl, Vocal soloists Dafydd Jones Tenor, Lisa Dafydd Soprano, Ann Atkinson Mezzo & Kevin Sharp Baritone, Ensemble Cymru - Peryn Clemenl Evans & Iwan Llewelyn-Jones, Live Music Now Cymru performers, Visual Artists Ben Davis & Jude Wood & Musician Sioned Webb, and the St Asaph Cathedral Choir. We were able lo deliver and host eight ev8nin9 concerts, six were sell out concerts at full capacity., five day lime concerts which incliided a Dementia Friendly piano recital by Iwan Owen.ILMNI.' six workshops and masterclasses, working with every age group., extensive involvement from the community from the Male Voice Choirs, Sl Asaph Cathedral Choir, Dee Sign BSL Choir and NEW Voices., our Arts and Musi¢ project and LMN players delivered our Community Tour. All the work delivered was developed around the overall theme of 'Horizons' e.g. The Horizon of WoTds, The Golden Horizon. We facilitated three new commissions from composers Pau5 Mealor. Gareth Glyn & Jon Guy. fulfilling our aim lo highlight and develop Welsh music. Paul Mealor's piece 'A Welsh Blessing, was a very moving setting lor SAT8 Choir and complimented 'The Welsh Prayer. we commissioned from him in 2013. Both pieces were sung by NEW Voices during the final concert. Gareth Glyn's organ work 'The Golden Horizon, was inspired by his great grandfather's decision lo emigrate to America during the Gold Rush leaving behind his wife and 4 children. Jon Guy's 'Gresford. Dark Horizon, is an overture lo what will become a new dramabc work lo tell the story of those who were lost in the Gresford mining disaster 90years ago. The piece was written especially and played by our 40 inslrumenlal project participants aloF)gside NEW Sinfonia. (This project was funded by the Thomas Howells Education Fund for North Wales). Page 1
North Wales Internatlonal Muslc Festlval Llmlted Report of the Trustees for the year ended 31 December 2023 ACHIEVEMENT AND PERFORMANCE KEY SUCCESSES Performances As listed previously all the activity we delivered, from concerts to all the community work, made the overall festival quite an achievement 2nd success. A very fitting way to say farewell to the outgoing Artistic Director, Ann Al.nson, after 20 successful years. The box office takings were a teslamenl lo this. Charltable Actlvltles Our community and education outreach work remains an important priority. LMN Cymru musicians delivered our Community Tour, concerts for children & tots, as well as our Dementia Friendly concert. These are all free events. Education Strand Our well established Instrumental Project took place again with NEVV Sinfonia. The potential and enthusiasm from youngsters for this project has been phenomenal over recent years. Participants of our projects many years ago were Robert & Jon Guy. the founders of NEW Sinfonia. The Horizonl Gotwellion arts and Music project led by artists Ben Davis & Jude Wood worked with five groups of adults and young people living with disability across the area and also with six primary schools. We liaised with Disability Arts Wales and STAND. The athork produced created the dramatic installation in the Cathedral for the duration of the Festival. Our Headline sponsor Pendine Park with their resident artist Sarah Edwards and their dements'a residents were also involved in creating parl ol the installation. Our association with the William Mathias Music Centre enabled us again to deliver 'Camau Cerdd, I Steps in Music stimulating fun music classes for Ihe very young. We had sessions which were bolh very well attended. FINANCIAL REVIEW Investment polley and objectlves The Board of Trustees has not formulated an investment policy since no investments are made as such. All reserves are to be applied to ensuring the sustainability of the Festival and are therefore kepl on accessible deposit accounts with banks. Flnan¢lal rosuIt$ The Festival has run at a surplus of expenditure over income of £4,726 in 2023, having budgeted for a deficit of £2,000, and ils finances remain in a healthy state with closing reserves equal to 23 per cent of current year income. Festival management continues lo exercise tight control of costs and is effective in obtaining sponsorships, donations. and gift aid, which permits us to budget for a sm811 deficit for 2024. Again, the Festival Manager and Artistic Director are to be congratulated on their ability to control costs and cultivate the good will of artists, suppliers, and supporters. Reserves pollcy A formal policy on reserves w8s agreed at the 18th March 2013 meeting of the executive ¢ommiltee. 11 stales.. The trustees have set a reserves poli¢y which requires that.. Reserves be maintained at a level which ensures that the Festival's core a¢livity could continue during a period of unforeseen difficulty. The level of reserves that would meet this objective is estimated to be between 15 and 20 per ¢er)t of income for the year, in accordance with the standard recommendab'on of Ihe Arts Council for Wales. The reserve be held in cash deposits. The policy be reviewed annually, taking into account the perceived risks associated with major income streams and the previous year's experience of actual income and expenditure, including the timing of cash flows. A budget surplus be planned for the current year if the level of reserves is below the target levels. This is to be done by the inclusion of appropriations lo reserves under Contingencies in the budget plan. A balanced budget be planned for the current year if the level of reserves is within the target levels. A bLJdgel deficit be planned for the current year if the level of resetves is above the target1evels. Page 2
North Wales Internatlonal M us1¢ Festlval Llmlted Report of the Trustees for the year ended 31 December 2023 FUTURE PLANS The 2024 Festival, in September is gearing up for a period of exciting developmenu transformation after the appointment of a new artistic director. Paul Mealor. With our 2024 theme of 'Trawsnewidiadaul Transformations, we will be bui5ding upon 52 successful years and looking to develop an artistically and environmentally sustainable future by embiacing the rich cultural diversity of North Wales and celebrating our si milarities and differences via music and the Welsh language. Vve will be nurturing Welsh talent and, through educationally diverse and inclusive projects aim to animate the young into engaging with the physical environment, arl, cultur&, local history and the ethnically rich and diverse communities around us. The artists performing at the 2024 festival will be The King's Singers, Folk group Ar Lo9, our orchestra in residence NEVV Sinfonia lin a new opera by Jon Guy and Grahame Davies lo commemorate Gresford at 90, jointly commissioned by us), Foden's Brass Band, the BBC National Orchestra of Wales. Ellis Thomas (Piano), Jeremy Huw Williams Ivoicel, the North Wales Choral Union and Orchestra, Iwan Llewelyn-Jones (Piano), as well as our very first festival fringe series of events which will include Aisha Kigs (Rn Bl, a poetry evening from Grahame Davies, a comedy night and a Vvelsh folk music night. The festiV81 will also feature instrumental project students al our Greslord at 90 opera, a composer's project based around Mussorgsky's Pictures at an Exhibition (which celebrates ils 150th birthday in 20241 and our inaugural Pendine Young Musician of Wales competition. We also have three arts projocls based on our theme 'Transformalions', the result of this project will provide an installation within the Cathedral to celebrate the Festival and highlight the theme. 'Camau Cerdd, l Musical Steps for babies to 7 year olds," schools and lols concerts, a Dementia Friendly & Inclusive concert, and our annual ¢ommunity lour with musicians from Live Music Now Cymru. The community tour will ¢ontinue in the larger community in North Wales lo give all an interactive and enjoyable experience. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The charity is controlled by ils governing document, a deed of trusl, and constitutes a limited company, limited by gLiarantee. as defined by the Companies Act 2006. The company was incorporated on 16th July 1979 and is governed by 8 Memorandum and Articltss of Association, which were last amended on 11 th November 2008. Every Trustee undertakes to contn'bule to the assets of the Company in the event of ils being wound up during the lime helshe is a Trustee. The liability of each member will not exceed one pound1£11 for payment of the d&bls and liabilities of the company contracted before the lime when helshe ceases lo be a Trusleo. Recrultment and appolntment of new trusteès The appointment of Trustees is set out in the Articles of Association, and a maximum of one third of the trustees must retire al each Annual General Meeb'ng. The exception lo this rule are those persons holding the following offices.. Bishop of Sl Asaph, Dean of St Asaph. the Chief Executive of Denbighshire County Council lor his nominee), and the Festival's Head Steward, who are members of the council ex officio. Every Trustee on election shall either sign a wiitten consent to become a member or sign the register of members on becoming a member. The members of the Company shall be the subscribers to the Memorandum of Association. Trustees can co-opt members onto the council lup lo a maximum of six) to assist in the advancement of the Objectives of the Company, and they will be granted voting rights. Assessors appointed by the Arts Council in Wales are allowed to attend Council meelings, however they do not h8ve any voting powers. Governance and Internal Control The Council of Members meet on a monthly b8SlS to direct the management and governance of the company. This includes reviews of the policies and protocols, developments to services, finances and fundraising. An Execukn've ViGe Chair is appointed by the Management Council lo oversee operations by the Festival Manager. An Artistic Director plans the programme of events for the September Festival. Governance and management structure continues lo be reviewed, with ongoing support from the fesb'val's Arts Council of Wales officer. Page 3
North Wales Internatlonal Muslc Festlval Llmlted Report of the Trustees for the year ended 31 December 2023 STRUCTURE, GOVERNANCE ANO MANAGEMENT Councll Members The Council of MembeTS IS Gompiled of the following who served during the year.. Righl Rev Dr Gregory Cameron The Very Rev N H Williams Mrs Mair Dowell Ms Susan Mason Dr Kevin Sharp Mrs Kathryn Heeley Dr Prydwen Elled-owens Mr John Hosking Mr Meirick Lloyd Davies Mrs Vera Savage Venerable E Bernard Thomas Prof John Solbe Mr Paul Booth Trustees are appointed by the members at the Annual General Meeting after nomination in accordance with the procedures laid down in the Company's Athcles of Association, Related partles The Company has a close relationship with the Cathedral in Sl. Asaph, which is the venue for the festival., neither is classed as a related party for accounting Irealmenl. REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Company numbei 01437526 (England and Wales) Reglstefed Chailty number 509023 Reglstered offlce Clo Swayne Johnson Solicitors High Street Sl Asaph Denbighshire LL17 ORO Trustees Or K Sharp Professor J Solbe Venerable E B Thomas Right Rev G Cameron Mr M L Davies Ms S Mason Mrs V Savag8 The Very Rev N H Williams Mrs M Dowell Mrs K Heeley Mr J Hosking Mr A S Jones (appointed 23151231 President The Right Reverend Dr Gregory Cameron Chairman The Very Reverend N H Williams Denbighshire County Council nominee Meirick Lloyd Davies Festival Steward Professor John Solbe Co-opted trustee Venerable E B Thomas Company Secretary Mr O L Williams Page 4
North Wales Internatlonal M uslc Festlval Llmlted Report of the Trustees for the year ended 31 December 2023 REFERENCE AND ADMINISTRATIVE DETAILS Independent Examlner 8ali3bury & Company Chartered Accounlanls Irish Square Upper Denbigh Road St Asaph Denbighshire LL17 ORN FUNDS POLICY The funds of the Company are all unrestricted. and there are no specifically designated funds. Approved by order of the board of trustees on 11120" and signed on ils behalf by.. 1&4 The Very Rev N H Williams - Trustee Page 5
Independent Examlner's Report to the Trustees of North Wales Internatlonal Musl¢ FestSval Llmlted Independent examlner's report to the trustees of North Wales Internatlonal Muslc Festlval Llmlted I'the Company) report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023. Responslbllltles and basls of report As the charity's trustees of the Company land also its directors for the purposes ol company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 Ilhe 2006 Acl'l. Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Acl 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 I'the 2011 Act'l. In carrying out my examination I have followed the Directions giver) by the Charity Commission under Section 145151 Ibl of the 2011 Act. Independent examlner's statement 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,, accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act., or the accounts do not accord with those records., or 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 the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for a¢¢ounling 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 IfRS 10211. I have no concerns and have come across no other matters in connection with the examinalion to which attents'on should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. Jason Matischok Salisbury & Company Chartered Accountants Irish Square Upper Denbigh Road St Asaph Denbighshire LL17 ORN Date.. az Page 6
North Wales Internatlonal Muslc Festlval Llmlted Statement of Flnanclal Actlvltles for the year ended 31 December 2023 2023 Unrestricted fund 2022 Total funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 105,594 125,460 Other trading activities Investment income 33,499 185 27,453 44 Total 139,278 152,957 EXPENDITURE ON Raising funds 134.552 154,256 NET INCOMEI(EXPENDITUREI 4.726 11,2991 RECONCILIATION OF FUNDS Total fund$ brought forward 27,320 28,619 TOTAL FUNDS CARRIED FORWARD 32,046 27,320 The notes form part of these financial slalements Page 7
North Wales Internatlonal M us1¢ Festlval Llmlted Balance Sheet 31 December 2023 2023 Unrestricted fund 2022 Total funds Notes CURRENT ASSETS Debtors Cash at bank 10,640 35,884 8,639 40,250 46,524 48,889 CREDITORS Amounts falling due within one year 10 114,4781 121.5691 NET CURRENT ASSETS 32,046 27,320 TOTAL ASSETS LESS CURRENT LIABILITIES 32,046 27,320 NET ASSETS 32,046 27,320 FUNDS Unrestricted funds 32,046 27,320 TOTAL FUNDS 32,046 27,320 The ch8rilable company is enlilled lo exemption from audil under Section 477 01 the Companies Act 2006 for Ihe year ended 31 December 2023. The members have not required the company to obtain an audit of ils financial statements for the year ended 31 December 2023 In ac¢ordan¢e wlth Sectlon 476 01 the Companies Acl 2006. The trustees acknowledge their responsibilities for lal ensuring that the charitable company keeps accounting records that comply wth Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give 8 true and fair view of the state ol affairs of the charitable company as al the end of each financial year and of ils surplus or deficit for each financial year in accordance with the requirements of Section5 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating lo financia1 statements. so far as applicable lo the charitable company. Ibl These f1nancial statements have been prepared in accordance with the provisions applicable to charitable companies subject lo the small companies regrne, The Inan ial statements were approved by the Board of Trustees and authorised for issue and were signed on its behalf by.. on The Veiy Rev N Fl Williams - Trustee The notes form part of these financial stalements Page 8
North Wales Internatlonal Muslc Festlval Llmlted Notes to the Flnanclal Statements for the year ended 31 December 2023 ACCOUNTING POLICIES Basls of preparlng the flnanclal statements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared In accordance with Ihe Charities SORP IFRS 1021 'Accounling and Reporting by Charities.. Slalement of Recommended Practice applicable to charities preparing their accounts In accordance with the Financial Repotknng Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191,. FInancal Repoth'ng Standard 102 'The Financial Reporting Slandard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the hislori¢al ¢ost Convention. Income All income is recognised in the S181emenl of Financial Activities once the charity has entitlement to the funds, il is probable that the ncome will be received and the amount can be measured reliably. Expendlture Liabilities are recognised as expenditure as soon as there is a leg81 or conslru¢live obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is a¢counted for on an accruals basis and has been classified under headings that aggregate all cost related to tho category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consislenl with the use of resources. Tangl ble fixed assets Deprocialion 1$ provided at th8 following ann¢Jal rates in ordar lo wrilg off gach 8s$91 over its gslim8ted useful Fixtures and fittings 1 Ook on cost Taxatlon The charity is ex8mpt from corporalion lax on ils charitable activities. Fund accountlng Unrestri¢ted funds can be used in accordance with the chari18ble objectives al the discretion ol the trustees. Restricted funds can only be used for particular reslricled purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purpose. Expenditure which meets these criteria is charged lo the fund, Further explanab'on of the nature and purpose of each fund is included in the notes to the financial statements, Golng concern The trustees have reviowed the charity's performance and all other considerations, and as a result believe that the going concern basis is reasonable. OTHER TRADING ACTIVITIES 2023 2022 Box office receipts Programme and records sales Friends subscriptions Bar Income Raffle Refreshmenls Merchandisè 27,723 926 971 1,157 1,899 823 22.317 1,020 975 820 1,352 685 284 33.499 27.453 Page g continued...
North Wales Internatlonal Muslc Festlval Llmlted Notes to the Flnanclal Statements contlnued for the year ended 31 Oecember 2023 INVESTMENTINCOME 2023 2022 Deposit 8ccounl interest 185 44 TRUSTEES. REMUNERATION AND BENEFITS There were no Iruslees, remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. Trustees, expenses There were no Iruslees, expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022. STAFF COSTS The average monthly number of employees during the year was as follows.. 2023 2022 Management and administration No employees received emoluments in excess 01 £60.000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund INCOME AND ENDOWMENTS FROM Donations and lega¢ies 125,460 Other trading activiti66 Iiivestmenl inconi 27,453 44 Total 152.957 EXPENDITURE ON Raising funds 154,256 NET INCOMEIIEXPENDITURE) 11,299} RECONCILIATION OF FUNDS Total funds brought lorward 28,619 TOTAL FUNDS CARRIED FORWARD 27,320 Page 10 continued
North Wales Internatlonal Muslc Festlval Llmlted Notes to the Flnanclal Statements - contlnued for the year ended 31 December 2023 TAXATION No charge to Corporation Tax arose for the current or previous years. The company has charitable exemption status for Corporation T9¥ purposes. TANGIBLE FIXED ASSETS Fixtures and fittings COST At 1 January 2023 and 31 December 2023 2,043 OEPRECIATION At l January 2023 and 31 December 2023 2,043 NET BOOK VALUE Al 31 December 2023 At 31 December 2022 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Trade debtors 10,640 8,639 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Trade creditors Accruals and deferred income Accrued expenses 11,663 315 2,500 16,774 4,795 14,478 21,569 MOVEMENT IN FUNDS Net movement in funds Al 31112123 At 111123 Un restrlcled funds General fund 27,320 4,726 32,046 TOTAL FUNDS 27,320 4,726 32,046 Nel movement in funds, included in Ihe above are as follows.. Incoming resources Resources expended Movement in funds Unre$trlcted funds General fund 139.278 1134,5521 4,726 TOTAL FUNDS 139,278 1134,5521 4,726 Page 11 continued...
North Wales Internatlonal Muslc Festival Llmlted Notes to the Flnanclal Statements - contln ued for the year ended 31 De¢ember 2023 MOVEMENT IN FUNDS- contlnued Comparatlves for movement In funds Net movement in funds At 31112122 At 111122 Unrestrlcted funds General flind 28,619 11,2991 27,320 TOTAL FUNDS 28.619 11,2991 27,320 Comparative net movement in funds, included in the above are 8$ follows.. Incoming resources Resources expended Movement in funds Unrestrlcted funds General fund 152,957 {154,2561 11.2991 TOTAL FUNDS 152.957 1154,2561 {1,299} A currenl yeai 12 monlhs and prior year 12 months combined position is as follows.. Net movement in funds At 31112123 Al 111122 Un restrlcled lunds General fund 28,619 3,427 32,046 TOTAL FUNDS 28,619 3,427 32,046 A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows.. Inc017)ing resources Resource5 expended Movement in funds Unrestrlcted funds General flind 292,235 1288,8081 3.427 TOTAL FUNDS 292,235 1288,8081 3,427 Page 12 continued...
North Wales Internatlonal M uslc Festlval Llmlted Notes to the Flnanclal Statements contlnued for the year ended 31 December 2023 12. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 December 2023. 13. COMPANY LEGAL STATUS The company is limiled by guarantee. Each Trustee guarantees £1 each. Page13
North Wales Internatlonal Muslc Festlval Llmlted Detalled Statement ol Flnanclal Actlvltles for the year ended 31 December 2023 2023 2022 INCOME AND ENDOWMENTS Donatlons and legacles Donations and sponsorships Grants 26,595 78,999 43,662 81,798 105,594 125,460 other tradlng actlvltles Box office receipts Programme and records sales Friends subscriptions Bar Incoire Raffle Refreshments Merchandise 27,723 926 971 1.157 1,899 823 22,317 1,020 975 820 1,352 685 284 33,499 27,453 Investment Income Deposit account interest 185 44 Total Incomlno resources 139.278 152.957 EXPENDITURE other tradlng actlvltles Artists fees Artistic directors. lees Staoino and instrument hirel tuningl scores Ocan and Chaplor of St Asaph Cathedral Performing rights Event expenses Bar and refreshment expenses Education project costs Film and editing costs 54,773 14,989 7.955 5,720 436 5,849 563 6,777 69,384 15,080 10,630 5,860 1,260 10,000 478 1,805 1.200 97,062 115,697 Support GQ5tS Management Adminislralors wages and expenses Insiirance Postage and slalionery Advertising and marketing staff travel Festival admin support Bank interest and charges 27,005 961 140 8.698 259 185 202 24,752 955 253 7,332 316 210 37,450 33,818 Governance costs Ac¢ounlancy and legal fees 40 4,741 Total resources expended 134.552 154,256 Net Incomellexpendltu rel 4,726 11,2991 This page does not form part of the statutory financial statements Page 14