IRIS Accounts Productionv23.4.0.336OtherCompany accountsTruefalsePounds1.8.2231.7.2331.7.23FYMr W S Henderson CAMr A D M MacDonald CA, CBE, FRSEMiss C A MacDonaldMr G AndersonMrs H MacIntyreMrs J E Riches MBEFRS 102Independent examinerLarge and medium-sized companies regime for accountsFullCharities SORPtruetruetruetruefalsetruefalsefalse00 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC4135812022-07-31SC4135812023-07-31SC4135812022-08-012023-07-31SC4135812021-07-31SC4135812021-08-012022-07-31SC4135812022-07-31SC413581ns0:CharitableCompanyLimitedByGuarantee2022-08-012023-07-31SC413581ns15:PoundSterling2022-08-012023-07-31SC413581ns0:Trustee22022-08-012023-07-31SC413581ns0:Trustee12022-08-012023-07-31SC413581ns0:Trustee32022-08-012023-07-31SC413581ns0:Trustee42022-08-012023-07-31SC413581ns0:Trustee52022-08-012023-07-31SC413581ns0:Trustee62022-08-012023-07-31SC413581ns11:FRS1022022-08-012023-07-31SC413581ns11:IndependentExaminationCharity2022-08-012023-07-31SC413581ns11:LargeMedium-sizedCompaniesRegimeForAccounts2022-08-012023-07-31SC413581ns11:FullAccounts2022-08-012023-07-31SC413581ns11:CharitiesSORP2022-08-012023-07-31SC413581ns0:TotalUnrestrictedFunds2022-08-012023-07-31SC413581ns0:TotalRestrictedIncomeFunds2022-08-012023-07-31SC413581ns11:MainIndustrySectorHeading2022-08-012023-07-31SC413581ns0:TotalUnrestrictedFundsns11:MainIndustrySectorHeading2022-08-012023-07-31SC413581ns11:MainIndustrySectorHeadingns0:TotalRestrictedIncomeFunds2022-08-012023-07-31SC413581ns11:MainIndustrySectorHeading2021-08-012022-07-31SC413581ns0:TotalUnrestrictedFunds2022-07-31SC413581ns0:TotalRestrictedIncomeFunds2022-07-31SC413581ns0:TotalUnrestrictedFunds2023-07-31SC413581ns0:TotalRestrictedIncomeFunds2023-07-31SC413581ns10:WithinOneYear2023-07-31SC413581ns10:WithinOneYear2022-07-31SC41358122022-08-012023-07-31SC41358132022-08-012023-07-31SC41358112022-08-012023-07-31SC41358112021-08-012022-07-31SC413581ns0:TotalUnrestrictedFunds2021-08-012022-07-31SC413581ns0:TotalRestrictedIncomeFunds2021-08-012022-07-31SC413581ns0:TotalUnrestrictedFundsns11:MainIndustrySectorHeading2021-08-012022-07-31SC413581ns11:MainIndustrySectorHeadingns0:TotalRestrictedIncomeFunds2021-08-012022-07-31

REGISTERED COMPANY NUMBER: SC413581 (Scotland)

REGISTERED CHARITY NUMBER: SC36207















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 5 March 2024 and signed on its behalf by:






Mr A D M MacDonald CA, CBE, FRSE - Trustee


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

203,882


2,000


205,882


310,438



Charitable activities

3

Events

64,618


-


64,618


56,169


Total

268,500


2,000


270,500


366,607



EXPENDITURE ON

Raising funds

20,904


-


20,904


22,787



Charitable activities

4

Events

226,817


12,136


238,953


345,883


Total

247,721


12,136


259,857


368,670



NET INCOME/(EXPENDITURE)

20,779


(10,136

)

10,643


(2,063

)

Transfers between funds

11

(10,136

)

10,136


-


-


Net movement in funds

10,643


-


10,643


(2,063

)


RECONCILIATION OF FUNDS

Total funds brought forward

25,799


1,435


27,234


29,297



TOTAL FUNDS CARRIED FORWARD

36,442


1,435


37,877


27,234



East Neuk Festival (Registered number: SC413581)


Balance Sheet

31 July 2023



2023


2022


Notes

£   

£   


CURRENT ASSETS


Debtors

8

17,870


24,054


Cash at bank and in hand

85,311


46,350


103,181


70,404



CREDITORS


Amounts falling due within one year

9

(65,304

)

(43,170

)


NET CURRENT ASSETS

37,877


27,234



TOTAL ASSETS LESS CURRENT

LIABILITIES

37,877


27,234



NET ASSETS

37,877


27,234


FUNDS

11

Unrestricted funds

36,442


25,799


Restricted funds

1,435


1,435


TOTAL FUNDS

37,877


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 5 March 2024 and were signed on its behalf by:






Mr A D M MacDonald CA, CBE, FRSE - Trustee


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

93,632


98,003




Grants

112,250


212,435



205,882


310,438




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



64,618


56,169




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

269,663


40,775


310,438




Charitable activities


Events

56,169


-


56,169



Total

325,832


40,775


366,607




EXPENDITURE ON


Raising funds

22,742


45


22,787




Charitable activities


Events

308,805


37,078


345,883



Total

331,547


37,123


368,670




NET INCOME/(EXPENDITURE)

(5,715

)

3,652


(2,063

)


Transfers between funds

16,352


(16,352

)

-



Net movement in funds

10,637


(12,700

)

(2,063

)



RECONCILIATION OF FUNDS


Total funds brought forward

15,162


14,135


29,297




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

17,870


15,046




VAT

-


9,008



17,870


24,054





9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022


£   

£   



VAT

169


-




Other creditors

-


1,422




Accruals and deferred income

65,135


41,748



65,304


43,170




10.

ANALYSIS OF NET ASSETS BETWEEN FUNDS

2023

2022



Unrestricted


Restricted


Total


Total


fund


funds


funds


funds

£   

£   

£   

£   



Current assets

89,225


13,956


103,181


70,404




Current liabilities

(52,783

)

(12,521

)

(65,304

)

(43,170

)


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


-



1,435


(10,136

)

10,136


1,435




TOTAL FUNDS

27,234


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

)


2,000


(12,136

)

(10,136

)



TOTAL FUNDS

270,500


(259,857

)

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 .