REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 July 2023 |
for |
East Neuk Festival |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 July 2023 |
for |
East Neuk Festival |
East Neuk Festival |
Contents of the Financial Statements |
for the Year Ended 31 July 2023 |
Page |
Report of the Trustees | 1 | to | 6 |
Independent Examiner's Report | 7 |
Statement of Financial Activities | 8 |
Balance Sheet | 9 | to | 10 |
Notes to the Financial Statements | 11 | to | 17 |
East Neuk Festival (Registered number: SC413581) |
Report of the Trustees |
for the Year Ended 31 July 2023 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 July 2023. The trustees have adopted the provisions of 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 2019). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The Festival exists to promote and advance the education of the public in the study and practice of the arts, music, poetry, acting, dancing and similar arts and the cultivation of public appreciation of those arts in particular by means of presenting an annual arts festival and associated outreach and community projects. |
Aims |
The company aims to commission, present, promote, organise, provide, manage and produce concerts, recitals, musical pieces, performances, events, education programmes and recordings in the East Neuk of Scotland within a programming policy that disregards exclusivity of style, genre and historical precedent, and actively encourages collaboration with other performing arts platforms, theatre, dance, performance art, film, new and other media art-forms. |
East Neuk Festival (Registered number: SC413581) |
Report of the Trustees |
for the Year Ended 31 July 2023 |
ACHIEVEMENT AND PERFORMANCE |
Achievement and Performance |
Artistic Director’s Report |
East Neuk Festival [ENF] was founded by Donald and Louise MacDonald and Svend McEwan-Brown in 2004 to present an annual programme of concerts and other arts events in the villages of the East Neuk of Fife. It is the only Scottish arts organisation to have twice won a Royal Philharmonic Society Award for its audience development and community arts activities. Its largely classical programme is wide-ranging and emphasises presenting only unique, curated events, excluding touring shows in favour of carefully created programmes developed with each artist individually. In any given year, the smallest project might be a concert in a tiny space for 30 people; its biggest project to date was 2016’s Memorial Ground, a UK-wide commission reaching thousands of people throughout the UK and nearby Europe. Regular visitors include pianists of the calibre of Christian Zacharias and Elisabeth Leonskaja, The Scottish Chamber Orchestra, The Tallis Scholars, the Belcea, Elias, Pavel Haas, Calidore and Castalian String Quartets, Theatre of Voices, Paul Hillier, Renaud Garcia-Fons and Sean Shibe. |
ENF 2023 was the 18th East Neuk Festival and took place between 29 June and 2 July. In it, the festival continued to pursue the 3 lines of activity it has developed since 2012: presenting a distinctive programme of performances, supporting the development of outstanding young artists and offering members of its community creative opportunities though its award-winning Big Projects. There were 18 performances, 5 online films and an installation, 1 ENF Retreat residency and 1 Big Project. Events were staged in churches and local halls, a chip shop and a disused cinema in the towns of Crail, Anstruther, Kilrenny and St Monans. The line-up of artists was exceptional both in classical (Belcea and Castalian Quartets, Jean Guihen Queyras, Bertrand Chamayou and Diyang Mei, Isabelle van Keulen and the SCO) and non-classical programmes (Su-a Lee, Duncan Chisholm, Donald Shaw, Morgan Szymanski). The highlight of the classical programme was a 5-concert residency by the Belcea Quartet while the non-classical programme gave carte blanche to cellist, Su-a Lee to celebrate her wide-ranging collaborations and musical adventures. Guitarist Morgan Szymanski performed both classical and non-classical concerts. Overall, the programme offered a characteristic mix of core masterworks alongside quirky and unusual events which delighted the audience and critics alike. New and unusual repertoire included Scottish premieres of music by Saygun, Kapustin, Tabakova, Kinbrae and Garth Knox (who surprised the performers by attending). Genres included this year included classical, jazz, traditional, fusion, electronica, video, film, contemporary, spoken word. |
ENF supported young artists in several ways. Saxophone player, Helena Kay benefited from an extended development residency to learn free jazz skills and then put them to work in 3 films for online; accordionist, Sofia Ros played to large audiences as part of mixed bills with major artists; young film maker David Behrens made 2 films as special commissions. |
A special Big Project led to the temporary reopening of Crail’s disused cinema on Crail Airfield where visitors |
experienced an immersive installation of film and sound inspired by the reminiscences of villagers about World War II |
and the impact of the airfield on this village. Overall, the age range of those participating was wide from teenagers to |
two ladies in their late 90s who contributed their recollections of war time Crail. We were able to deliver this with the |
help of funding from EventScotland’s Regional Events Fund. |
All of this was achieved in the face of exceptional challenges. Unaware that a key source of support (Creative Scotland) was itself experiencing extreme pressure on the funds it had available to disperse, we were taken by surprise in November 2022 when our annual funding bid was turned down for the first time in 17 years. The resulting loss of £80,000 in the budget came at the worst time, the point of the planning cycle when we needed to contract artists and book, resources, accommodation, et cetera. Through the generosity of private individuals who responded swiftly to our special appeal, we were able to secure funding to go ahead with a reduced programme. Subsequently, a re-application to Creative Scotland was successful (albeit at a lower level than usual) and a fuller festival was able to go ahead. Nonetheless, the impact of this sequence of events may be seen in the financial statements as overall income and expenditure is lower than in 2022. We project a return to pre-2023 levels in 2024. |
East Neuk Festival (Registered number: SC413581) |
Report of the Trustees |
for the Year Ended 31 July 2023 |
AUDIENCE RESPONSE AND ANALYSIS |
This report summarises analysis of data drawn from our box office, social media and data from an online audience survey conducted online immediately after ENF 2023. |
ENF 2023 attracted its largest audience since 2018 which gave the festival the feel that it was returning to normality after the disruptions of recent years. Our audience is predominantly older (68% are over 65) but it is growing, not shrinking over time which suggests that it is renewing itself. More women than men attend (55%: 45%) (none identified as anything other than male or female), and in 2023 we had unusually high numbers of young attenders thanks to school groups that came to multiple events. In additions to our local audience, we attracted around 65% of the audience from elsewhere: |
ENF Ave | 2023 |
Fife | 40% | 35% |
Other Scotland | 50% | 51% |
Other UK | 8% | 10% |
International | 2% | 4% |
Asked to rate the 2023 festival, our audience gave it 93%. Here is some of their highlights and comments: |
"Great artists, great organisation, great venues." |
"Being able to enjoy such brilliant music on my doorstep." |
"The lunchtime concert in St Monans "Latin Journeys" - it had a resonance of early ENF concerts in interesting venues with niche performers." |
"Every bit of it. Queyras was wonderful and so were Belcea and Latin Journeys and the Closing. All great!" |
"A great day out." |
"Belcea quartet plus Chamayou - wonderful performance." |
"3 brilliant concerts in a single day plus enjoyable socialising with old friends." |
In addition to the physical audience, ENF is broadcast globally by BBC Radio 3: in 2023 the BBC recorded 4 concerts which were subsequently broadcast to a global audience of 2 million people. ENF’s Big Project was also the subject of a feature by BBC Radio Scotland. |
ACCESS & INCLUSIVITY |
Exclusion of those who live in rural communities from excellent, professional arts activities is very common in Scotland, and a key aspect of ENF’s work for access and inclusivity is its core activity of making world class live arts events and participation opportunities available to the rural/coastal communities of Fife in their own neighbourhoods area. |
A high proportion of ENF’s audience, 10%, identify as disabled. ENF makes great efforts to ensure that venues and planning remove as many barriers to attendance and participation as possible. We were gratified by feedback from one participant who commented that they come to ENF because venue access and the festival organisation make it easy for them despite limited mobility. Another noted ‘No problems at all - you had thought of everything’. ENF responds to requests, and in 2023 it offered a coach trip from Edinburgh to enable those who no longer drive to attend with ease. |
East Neuk Festival (Registered number: SC413581) |
Report of the Trustees |
for the Year Ended 31 July 2023 |
In a year during which the cost-of-living crisis became acute for many, ENF is proud of its efforts to maintain ticket prices of a range and level to enable as wide an audience as possible to attend. |
ENF’s programme makes concerted efforts to offer a diverse and balanced range of performers and creators by gender (on average there is a 50:50 balanced of male and female) and by presenting musicians from different musical traditions and cultures. |
PRESS |
ENF continues to attract significant media coverage. It was shortlisted in in The Times: Best UK Festivals, The Herald: Ultimate 2023 Scottish Summer Festival Guide and Sunday Times: Top Small UK festival. It was covered by Fife Today, Edinburgh Reporter, Gramophone magazine, BBC Music Magazine, The Herald, Best of Scotland, Classical Music Magazine, , Scotsman, The Courier, Vox Carnyx and Edinburgh Music Review, BBC Radio 3, BBC Scotland. |
"The East Neuk of Fife isn’t somewhere you would naturally associate with a gathering of world-class musicians, but once a year it comes alive with them when this quiet corner of Scotland hosts the East Neuk Festival. The venues are beautiful and the audiences appreciative, often drawn by the very sense of isolation and tranquillity that the East Neuk provides. The musicians come for the same reasons, but they’re also attracted by opportunities to collaborate." [The Times] |
"What’s the connection between strings, guitar, accordion, church organ and saw? Yes, I said saw, not an implement you expect to see in any normal musical line-up. But then, the music and diversity offered by the East Neuk Festival always has an air of mystique and innovation that sets it apart. Sunday saw the close of this year’s musical journey, a trip from St Monans to St Andrews via Anstruther that was an utter delight. Duets, ensembles, solo work - whatever the combination, and whatever the style of music, from Scarlatti to Philip Glass, it was delivered with the Festivals, customary class." [Vox Carnyx] |
ENF maintains this level of coverage in the face of challenges as cuts to traditional media reduce arts coverage generally. That said PR challenges had no adverse effect on attendance as ENF enjoyed its most successful ticket sales since 2018. |
ENVIRONMENTAL ISSUES |
ENF is highly conscious of the potential impact of events such as festivals on the environment and has long taken measures to limit its own carbon footprint. These include having only a virtual office and managing as much business as possible online; taking place during summer to reduce requirement for heating and lighting; avoidance of temporary stages and venues which require intensive transportation and erection; limiting print publicity to a minimum and offsetting all print production against tree-planting. A full statement of our actions is available. |
FINANCE |
As noted above, ENF (in common with other arts organisations) faced unexpected challenges in its fundraising in 2023. We are especially grateful for the generosity of private individuals who responded to our special appeal and enabled us to deliver the events. The final result that the festival achieved reflects healthier than expected ticket sales which exceeded target by 26% which enables us to enter the coming financial year in a healthy condition and with confidence to continue our work in 2024. |
ENF is grateful for the support in 2023 of: |
Creative Scotland |
EventScotland |
East Neuk Festival (Registered number: SC413581) |
Report of the Trustees |
for the Year Ended 31 July 2023 |
The Cruden Foundation |
Hugh Fraser Foundation |
Misses Barrie Charitable Trust |
Tay Charitable Trust |
The William Syson Foundation |
FINANCIAL REVIEW |
Principal funding sources |
The various sources of funding received to meet our objectives were expended in accordance with the terms and conditions contained within the Funding Agreements. There was a surplus for the year of £10,643 (2021: £2,063 deficit). |
Reserves policy |
The Trustees believe they should hold reserves equivalent to three months core operating expenditure. While the Festival holds reserves which are less than this target, the Trustees are confident that grant and sponsorship funding, in addition to ticket sales and support from patrons will be sufficient in the next and future years to allow the Festival to continue. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The East Neuk Festival is a charitable company limited by guarantee, incorporated on 21st December 2011. It was established under a Memorandum of Association which set out the objects and powers of the charitable company. It is governed under its Articles of Association. In the event of the charitable company being wound up members are required to contribute an amount not exceeding £1. |
Recruitment and appointment of new trustees |
Requirements are discussed at Board meetings. Vacant positions available on the board are discussed regularly and attempts made to identify individuals with the appropriate skill base who are then encouraged to apply to become trustees. |
Induction and training of new trustees |
All new trustees are instructed in their responsibilities in line with OSCR and charity law requirements. |
East Neuk Festival (Registered number: SC413581) |
Report of the Trustees |
for the Year Ended 31 July 2023 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
SC413581 (Scotland) |
Registered Charity number |
SCO36207 |
Registered Office |
Weirgate House |
Weirgate Brae |
St Boswells |
TD6 0BD |
Trustees |
Mr A Donald M MacDonald, CA, CBE, FRSE (Chair) |
Mr William Shields Henderson, CA (Treasurer) |
Mr Graham Anderson - resigned 15 November 2022 |
Miss Kiki MacDonald |
Mrs Hilke MacIntyre |
Mrs J Elizabeth Riches, MBE |
Independent examiner |
R L H Crawford BA CA CTA |
Jeffrey Crawford & Co |
Chartered Accountants |
25 Castle Terrace |
Edinburgh |
EH1 2ER |
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
East Neuk Festival |
I report on the accounts for the year ended 31 July 2023 set out on pages eight to seventeen. |
Respective responsibilities of trustees and examiner |
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention. |
Basis of the independent examiner's report |
My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures 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 required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. |
Independent examiner's statement |
In connection with my examination, no matter has come to my attention : |
(1) | which gives me reasonable cause to believe that, in any material respect, the requirements |
- | to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and |
- | to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations |
have not been met; or |
(2) | to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. |
R.L.H Crawford, BA CA CTA |
The Institute of Chartered Accountants of Scotland |
Jeffrey Crawford & Co |
Chartered Accountants |
25 Castle Terrace |
Edinburgh |
EH1 2ER |
25 March 2024 |
East Neuk Festival |
Statement of Financial Activities |
(Incorporating an Income and Expenditure Account) |
for the Year Ended 31 July 2023 |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
Charitable activities | 3 |
Events | 64,618 | - | 64,618 | 56,169 |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities | 4 |
Events | 226,817 | 12,136 | 238,953 | 345,883 |
Total |
NET INCOME/(EXPENDITURE) | ( | ) | ( | ) |
Transfers between funds | 11 | (10,136 | ) | 10,136 | - | - |
Net movement in funds | ( | ) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 27,234 |
East Neuk Festival (Registered number: SC413581) |
Balance Sheet |
31 July 2023 |
2023 | 2022 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 8 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 9 | ( | ) | ( | ) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 11 |
Unrestricted funds | 25,799 |
Restricted funds | 1,435 |
TOTAL FUNDS | 27,234 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
East Neuk Festival (Registered number: SC413581) |
Balance Sheet - continued |
31 July 2023 |
These financial statements have been prepared in accordance with and delivered in accordance with the special provisions applicable to small charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
East Neuk Festival |
Notes to the Financial Statements |
for the Year Ended 31 July 2023 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Income from charitable and other trading activities is stated net of VAT. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Donated services and facilities |
Donated services or facilities are recognised as income when the charity has control over the item, any conditions associated with a donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. On receipt, donated services and facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. |
Financial instruments |
The charitable company only enters into basic financial transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable. |
East Neuk Festival |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
2. | DONATIONS AND LEGACIES |
2023 | 2022 |
£ | £ |
Donations |
Grants |
3. | INCOME FROM CHARITABLE ACTIVITIES |
2023 | 2022 |
Activity | £ | £ |
Ticket sales | Events | 60,790 | 53,814 |
Performance fees | Events | 3,033 | 2,233 |
Hospitality donations | Events | 795 | 122 |
4. | CHARITABLE ACTIVITIES COSTS |
2023 | 2022 |
£ | £ |
Artist fees | 74,528 | 132,191 |
Staff | 73,572 | 82,675 |
Advertising | 6,799 | 19,659 |
Instrument hire | 3,060 | 5,609 |
Artists travel/accommodation | 20,967 | 23,838 |
Other direct costs | 32,853 | 25,195 |
Support costs | 4,212 | 2,305 |
Hire of equipment | 17,129 | 35,105 |
Staff travel/accommodation | 5,833 | 19,306 |
238,953 | 345,883 |
5. | SUPPORT COSTS |
Governance |
Finance | costs | Totals |
£ | £ | £ |
Events | 452 | 3,760 | 4,212 |
East Neuk Festival |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
5. | SUPPORT COSTS - continued |
Support costs, included in the above, are as follows: |
2023 | 2022 |
Total |
Events | activities |
£ | £ |
Bank charges | 452 | 311 |
Independent examiner's fee | 3,760 | 1,994 |
4,212 | 2,305 |
6. | TRUSTEES' REMUNERATION AND BENEFITS |
In the year ended 31 July 2023 the trustees did not receive any remuneration or benefits. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 July 2023 nor for the year ended 31 July 2022. |
7. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Events | 56,169 | - | 56,169 |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Events | 308,805 | 37,078 | 345,883 |
Total |
NET INCOME/(EXPENDITURE) | ( | ) | ( | ) |
Transfers between funds | 16,352 | (16,352 | ) | - |
Net movement in funds | ( | ) | ( | ) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 15,162 | 14,135 |
East Neuk Festival |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
7. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
TOTAL FUNDS CARRIED FORWARD | 25,799 | 1,435 | 27,234 |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
VAT |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
VAT | 169 | - |
Other creditors |
Accruals and deferred income |
10. | ANALYSIS OF NET ASSETS BETWEEN FUNDS |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
£ | £ | £ | £ |
Current assets |
Current liabilities | ( | ) | ( | ) | ( | ) | ( | ) |
36,442 | 1,435 | 37,877 | 27,234 |
East Neuk Festival |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
11. | MOVEMENT IN FUNDS |
Net | Transfers |
movement | between | At |
At 1.8.22 | in funds | funds | 31.7.23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 25,799 | 20,779 | (10,136 | ) | 36,442 |
Restricted funds |
Retreat | 1,435 | (2,451 | ) | 2,451 | 1,435 |
Big Give Champions | - | (7,685 | ) | 7,685 | - |
(10,136 | ) |
TOTAL FUNDS | 10,643 | 37,877 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 268,500 | (247,721 | ) | 20,779 |
Restricted funds |
Retreat | - | (2,451 | ) | (2,451 | ) |
Big Give Champions | 2,000 | (9,685 | ) | (7,685 | ) |
( | ) | (10,136 | ) |
TOTAL FUNDS | ( | ) | 10,643 |
East Neuk Festival |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
11. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net | Transfers |
movement | between | At |
At 1.8.21 | in funds | funds | 31.7.22 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 15,162 | (5,715 | ) | 16,352 | 25,799 |
Restricted funds |
Retreat | 1,935 | (500 | ) | - | 1,435 |
Gran Partita | 2,226 | - | (2,226 | ) | - |
Drying Green | 2,772 | - | (2,772 | ) | - |
Big Give Champions | 10,323 | 4,152 | (14,475 | ) | - |
Band in a van | (3,121 | ) | - | 3,121 | - |
14,135 | 3,652 | (16,352 | ) | 1,435 |
TOTAL FUNDS | 29,297 | (2,063 | ) | - | 27,234 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 325,832 | (331,547 | ) | (5,715 | ) |
Restricted funds |
Retreat | 1,000 | (1,500 | ) | (500 | ) |
Big Give Champions | 39,775 | (35,623 | ) | 4,152 |
40,775 | (37,123 | ) | 3,652 |
TOTAL FUNDS | 366,607 | (368,670 | ) | (2,063 | ) |
The restricted funds were held for the following purposes: |
Retreat - As part of the annual Festival The Retreat seeks to encourage and support young musicians by providing them with opportunity to meet and learn from world class chamber music players. |
Gran Partita - Funded by Hedley G Wright to recreate the performance by Mozart. |
Drying Green - An event inspired by a traditional "drying green" and funded by Event Scotland through its Beacon Events program. |
Big Give Champions - An award-winning event focused on celebrating and exploring the East Neuk of Fife area's history and heritage through an ambitious project bringing together artists and community to create new work. |
East Neuk Festival |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
11. | MOVEMENT IN FUNDS - continued |
Band in a Van - A live music programme with pop-up stage and musicians, stopping off throughout the area’s fishing villages and stunning countryside to give free and live performances of classical, roots, jazz and traditional music on the streets of the Neuk. |
12. | RELATED PARTY DISCLOSURES |
There were no related party transactions for the year ended 31 July 2023 . |