ISLAY FEsnvAL AssoaATION REPORT OF THE TRUStEES AND FINANCIAL sfATEMENTS
Page 3 D2tslls of Charlty Page *5 Report of the Trustees and Management Report Page 6 nanclal Revlew Pa8e 7 Irvjependent Examlners Report Page 9 Notes to the Flnancial Ststements Pa8e I112 Analysis of Recelpts and Payments
The Trustee5 and Management Committee present their reF>Qrt and un-audited financial statements for the year ended 31st August 2024 Reference and Adrnlnlstratlve Informatlon Charlty Name Isky Festival Assodation Charlty Re8tstration Number Charity Address: Trustees.. Gaelic Consultant Media Consultant Secretsry: Bankers.. Royal Bank of Scotland Maln Street Bowmore Islay PM3 7JJ
Structure, Governance and Management The organisation was formed in 1984 and is governed by a constitution. The Trustees, who are the management committee. are re5posible for the day to day running of the chartty and ensurlng the aims and objectives are carried out. Administration arKI marketing is delegated to the secretary who is paid. Trustees are famlliar with the practlcal work of the charity by livlng within the local community, Advertisements for new Trustees are periodically placed in the local newspaper. OrganisJtion'5 Prfncipal Obiethves & Actlvitles The priciple objective of the organisation is to promote festivals and other events to encourage appreciation of cutture. hlstorical. educatlonal and social development. Achlevements and Perforn)an¢e Fèis lie is a charity govemed by a constitution. the member5 are Jolntly responslble fr>r 8ood governance. Our main aim is to facilitate a weeklong event with emphasise on island culture, larudge and hospitality- In 2024 we welcomed back old and new friends to enjoy a week long event. We had major problems with Ferry issues but after a media campalgn we managed to get extra ferry sailings but a Ilttle to late for some visitors who had to cancel their travel plans. The monetary value to the island as a whole15 incalculable and we have emphaslsed this to Calmac. so hopefully this will be avolded next year with new ferries on the horizon. We klcked of our festivèl with Opening Event which brings the island population tO8ether and is aimed at families. This year's was Circus themed and we had a few Circus entertainers performing on the first night followed by a family lIldh with the Midgies Band. in keeplng with it being a family event it is alcohol free and also free for all to atte1 We then followed that succeshjl start th our First Flln& whlch was very well attended and set the scene forthe week. It wa5 good to see old frsends and new back enjoying what only Fèis can provlde. We then followed on with Boat Trips round the coast of Islay showing our natural beaijty and wlldllfe, next up came ourvery popular Whisky N05ing night with traditlonal ceilidh another sold out event, Folk Night with our very own talented Islay Artistes was held in Ardbeg Distilleryi Our world famous Clootie Dumpling Ceilidh was held in ther Ramsay Hall and prijved to be very popular.
AChI•ments and Perform•n¢• contlnued Back by popular demand was our Mystery Bus tour whlch is proving so popular we actually had to have two buses. This year's was Vlklng themed and we told about the history of the Island, played Wiking Games and had lovely Viking themed food in various establishment& A(onrt was held in Port Ellen with a pie and a pint. This was very well attended and proved to be just the tonicfor some for the comedic value alone. The Final Hin8 wasthe RunrlB experien and wasvery well attended followed by a new band for us- The Best Bad Influence. They were a Rock a Billy Band who had the dancefloor full from start to finish. Another succe%ful event for the Committee. We also 5UPPOrt lots of our local charities throughout the week by Selling tickets on our Portal and use a5 rnany as PD5sible at our events either to sell their wares or provtde food to the visitors and all money raised goes back to the Charity We also held Bowlln& Flshing and Golfing events throughout the week. A5 part of our brief we also supported several local chaiitle5 on the island by monetary donation5. Going fonvard to 2025 planning 15 well underway. Maln Objectives for next year We are workirg hard behind the scenes planning our 2025 Festival whilst plannin8 our 2026 Festival whlch will the 40th Anniversay of first physical Feis from an idea that was bom in 1984 and it is testament to all committee members and volunteers over the years that we have reached our 40th Anniversary. Role ol Volunteers All the Trustees and Management Comrnittee are volunteÈrs, who fulfil this role to ensure that the organisation is well governed and meets the requirements of the constitution. Throughout the week of the festival at each of the events therÈ are volnteerS who take on various roles induding the setting up of halls, working the bars and provide cèterin&
HnonEi•l Re¥l•w The Charoty had a surplu5 of £IIy)5.56 in the financial year(£2818Q50 Surplu$ 20221231 Total Fuyth atthe end of the year were £123,491.1712022123 £IIL856.611 14lnclpal FundlThx The principal fun(NnKsowce of th¢tharltycome5 from runnln8 events however donatlons are •lso rttei¥ed from IrKal dlstlllerres and some local or8anlsatlons. Ros•rv• Pollry Total unreskncted funds atthe end of the year were £123491.171£111.85&612022n31 ofthi5 £31,876.59 held as deg18nated funds to ensure thal e55entlal expendlture mèt In the evènt of a fvndin8ui91$. AJI fvnds are held to enyjre the organlsatlon contlnues to mèet its charitsble aims and objectives. Invastrn•nt Pollry The trustees have conslthred thè most apFfoprlatÈ poltcyfor InVenlunds and have found that short to medlum term investment otfvnds should be held In current and deposlt actounts. RwoTrsObilrli•s of th• Trtee$ The charity's trustees are responsiblelor the weparatlon of the accounts In accordance with thè terms of the Charfties andTrustee5 Inve5tmefitlScodandl Art 2005. The CharltyTrustÈes conslderthatthe audit requlrementof section Iolllldl of thè Accounts Regulations doe5 not app.
Independent Examlnees Report The charity's trustees are responsible forthe preparation of the accounts in accordance with the terms of the charitles and Trustees Investment (Scot[and)25 Act and the Charities Account (Scotlandl Regulations 26. The Charlty trustees consider thatthe audil requirements of Regulattion Iolllldl of the Account5 Regulations does not apply. It is mv responsibility to examine the ac£ounts as required under Section 4411)Icl of the Act and to state whether any particular matters have come to my attention. My examlnatlon Is carried out in accordance with Regulation 11 of the Chartties Accounts {Scotlandl Regulations 2LK6. An examination includes a revlew of the accountlng records kept by the charlty and a compar(son of the accounts presented with those records. It a150 includes consSderatlon of any unusual item5 or disdosures in the accounts and seeks explanations from the trustees conceming such matters. The procedures undertaken do not provlde all the evidence that would be required in an audrt and. consequently, I do not expres5 an audlt opinion on the account5. In the course of my examination, no matter has come to my attention l. whlch gives me reasonable cause to believe that In any mèterlal resi the requirements: to keep accountin8 record5 in accordance with sectK)n 44111{al ofthe 2(M)5 Act aTrJ Regulation 4 of the 2C¥)6 Accounts Regulations ha not been met or 2. to whlch, in my opinion, attention should be drawn in order to enable a proper understandlne of the accounts to be rÈached.
151ay Festtval Association- Report of the Trustees and Flnancial Statements Forthe year ended 31st August 2024 Statement of BalanS As at 31st Au8USt 2024 2024 Totsl Funds 2023 Totsl Fund5 Cash Funds Openine Cash and Bank Balance Surplus]DeficSt tor year 111,585.61 11,905.56 83,401.11 28,184.50 aoslng Bank Balan 123,491.17 IIIW5.61 On behalf of the Trustees
Islay Festlval Association- Report of the Tru5tee5 and Financlal Statements For yearen¢Jed 31st August 2024 For the y•ar ended 21st Auyst 2024 2024 2023 Nature and Purpos• of Funds General Funds Restricted Fund5 Designated Funds 91,264.58 80,167.62 31876.59 31,417.99 123419.17 111.58S. Trustees Renumer•tlon No remuneration was paid to Charity TnteeS or connected persons during the year (2023 nil) No Trustees were paid expenses durlng the ye3r12023 nil) Trnnsactlons wlth Trustees and Cnected Persons No Trustees were reimbursed fr>r purchases made on behalf of the organisation {2023 nil)
Islay Festival Association Report of the Trustees and financial Statements Foryear ended 315t August 2024 AMWS of Receipts and Payments For yew ended 3tst AW 2024 2023 Unrestlcted Funds Restrlrted Tf)tal Funds Funds Total Funds Recelpts Donations General Donatlons Dlstillery Donations 150 17,C(M).00 17.150.IX) 150 150 17,OCM).IJ) 13.250.(M) iy.ISO.ry) U.4(*Ac Recelpts for Fundrnlsing Activitles Competition Sales Other 11,971.89 11,971.89 26279.07 11,971A9 IL971.89 26279.07 In¥estment Intome Bank Interest 458.6 458 458.6 281.17 45&6 281.17 Receipts for Qmrltable Aclivltles Events Refunds Other Income 60,625.16 177 487 61.Z89.16 60,625.16 49791.68 177 2871.24 487 2339.95 61289.16 $5002.87 90,869.65 90869.6 94%3.11 io
Islay Festbval Association Report of Trustee5 and Financial Statements For year ended 31st August 2024 2023 Unrestritted Funds Restricted Totsl Funds Funds Total Funds Payments Donations Paid Out Go Fund Me The Beatson Bowmore Primary School Kellls Primary School Port Charlotte Primary School Port Ellen Primary School Small Isles Prlmary School Jura Sidekick Charity Bowmore Community Association Cyber Cafe IaY Youth Wind Band Archery Club Angllng Club 287.5 31KJ.25 250 250 250 250 250 200 200 750 225 750 225 250 250 3CKJ 325.19 2300.19 250 250 300 325.19 23rA•.19 Expenses from Fundraisng Activitles Tlckets for other Events Mystery Bus Tour Equipment Hire I3?.75 I4.0.00 1440 1870 17JlO.00 Payments directty relating to Charitsble Activities AdvertisindProgramme of Events Caterlng Event Bar and Food Purchases FloaVPetty Cash Art15tes Fees Hall Rent Hospitality Insurance & LiCenS Bank Charges Salary & Mileage- Secretary Stage Hire Transport Travel and Accomrnodation Security Cornputer and WebsFte 0 I4,0.00 1440 1870 17.310.00 I12.00 631 1000 12,891.00 385.4 680.03 406958 1670 16211 1154.7 740.23 453 122.62 2510.02 385.4 680.03 4069.58 526.22 441.15 2988.11 2800 16498.72 1878.67 371.05 474 148.7 24(Kl 1670 16211 1154.7 740.23 453 122.62 0 2510.02 3500 11738.25 3500 0 11738.25 4568 265.6 1250 13201.01 2643.95 265.6 li
151ay Festival Association Report of Trustees and nanCIal statements For year ended 31st August 2024 2024 Unrestrkted Funds Restrlcted Total Funds Funds Total Funds Hire of Contalnèr Fets Ile Tartan Offlce/Admin Expenses Sundry 1760 7375 996.94 1153.53 59353.9 1760 7375 996.94 0 1153.53 1608.28 0 59353.9 S2086 360 3456 Accountancv Totsls 78.964.09 0 78.964.09 66,77&61 12