REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
TRUSTEES' REPORT AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
THE PEASMARSH CHAMBER MUSIC |
FESTIVAL TRUST |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
TRUSTEES' REPORT AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
THE PEASMARSH CHAMBER MUSIC |
FESTIVAL TRUST |
THE PEASMARSH CHAMBER MUSIC |
FESTIVAL TRUST |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Trustees' Report | 1 | to | 5 |
Independent Examiner's Report | 6 |
Statement of Financial Activities | 7 |
Balance Sheet | 8 | to | 9 |
Notes to the Financial Statements | 10 | to | 16 |
THE PEASMARSH CHAMBER MUSIC |
FESTIVAL TRUST (REGISTERED NUMBER: 04625088) |
TRUSTEES' REPORT |
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 the financial statements of the charity for the year ended 31 December 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 charitable company's objects are to promote, improve, develop and maintain education in the appreciation and knowledge of the art and science of music. The Peasmarsh Chamber Music Festival Trust supports an annual summer chamber music festival in and around Peasmarsh, East Sussex, co-directed by Anthony Marwood and Richard Lester as well as educational projects, and fundraising activities during the year. The festival includes several public performances, in different venues, enabling the festival to reach a wide audience for the concerts and delivering significant benefit to the public through this work. |
The Company's ability to support the Peasmarsh Chamber Music Festival has been enhanced by successful fundraising campaigns in each of the past few years, which have included building up a circle of around 150 friends and patrons who support the festival, as well as attracting some support from local companies and charitable trusts, as well as Rother District Council and Sussex Community Foundation. |
THE PEASMARSH CHAMBER MUSIC |
FESTIVAL TRUST (REGISTERED NUMBER: 04625088) |
TRUSTEES' REPORT |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
ACHIEVEMENT AND PERFORMANCE |
Following the end of the COVID-19 pandemic, the Directors were delighted to be able to present a Festival of live concerts in June 2023. We presented concerts in our principal concert venues of the Church of St Peter and St Paul in Peasmarsh and St Mary's Church in Rye. |
Artistic activity |
The 2023 Festival was the 25th festival presented in Peasmarsh, including the early festivals presented under the original name of the Florestan Festival at Peasmarsh. The Festival took place over four days, 22 to 25 June 2023, with education workshops taking place in five local schools during the previous week. |
The festival comprised 9 concerts, seven held at the Church of St Peter and St Paul, Peasmarsh, East Sussex, and two at St Mary's Church, Rye. We were delighted to continue our education partnerships with Winchelsea, Icklesham, Rye, Peasmarsh and Beckley Primary Schools. |
In addition to Anthony Marwood (violin) and Richard Lester (cello) the artists performing at the Festival were: |
Simone van der Giessen, viola |
Stefan Kassomenos, piano |
Alexander Madzar, piano |
Samuel West, actor |
The Kleio Quartet |
The Valo Quartet |
Britten Sinfonia |
It is a central aim of the Company to invite artists of the highest standard to the festival each year, which was achieved through these internationally acclaimed guest performers. Additionally, the Festival always supports young professional musicians, giving them performance opportunities to develop their careers as professional musicians. In 2023, the award winning Kleio Quartet joined us and, in addition to performing a number of works during the Festival, also worked with children participating in our education programme. |
The Festival aims to include a combination of traditional and less familiar repertoire each year. In 2023 our public performances included works by composers ranging from Mozart to Saint-Saëns, Shönberg to Adès, and works by both Felix and Fanny Mendelssohn. |
Education projects |
In 2023 the Company continued to work with include five partner schools, Rye Primary, St. Thomas' Winchelsea, Icklesham Primary, Beckley Church of England Primary School and Peasmarsh Church of England Primary School. The project consisted of workshops in each school led by experienced Education Project Leader Sam Glazer, accompanied by members of the Kleio Quartet. The participating children were brought together into a large-scale culmination concert in St. Mary's Church in Rye. An audience of around 250 teachers, parents and festival supporters attended this concert, which was very well received by all who attended. |
We are very grateful for the support we received from Rother District Council and the Little Cheyne Court Wind Farm Ltd., operated by Innogy Renewables UK Limited and co-ordinated by Sussex Community Foundation, the Kowitz Family Foundation, Arts Society High Weald and the Rudi Martinus van Dijk Foundation to fund our education work. |
Principal Achievements, and their financial impact |
The principal achievements of The Peasmarsh Chamber Music Festival Trust during 2023 were as follows: |
- Presentation of nine high quality public concerts, delivering significant public benefit to the members of the audience through their attendance at the Festival. A number of these concerts were well sold, and we were able to increase box office income relative to 2022. |
- A number of new supporters were invited to support the Charity in 2023, following our fundraising event in November 2022. |
THE PEASMARSH CHAMBER MUSIC |
FESTIVAL TRUST (REGISTERED NUMBER: 04625088) |
TRUSTEES' REPORT |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
- Education workshops were held at Rye, Winchelsea, Icklesham, Beckley and Peasmarsh Primary Schools marking a significant broadening of our education programme and creation of new partnerships |
- Our education culmination concert in St Mary's Rye brought all five schools together for the first time. This concert format was very well received by all five schools. |
FINANCIAL REVIEW |
Reserves policy |
The aim of the Trustees has been to retain sufficient reserves to cover approximately six months of operating expenses. In order to achieve this, the Company generally raises funds to cover the costs of the Peasmarsh Chamber Music Festival not covered from ticket sales through attracting donations from Friends and Patrons as well as donations from grant-giving trusts, with the aim of generating a small contribution to reserves where possible. This also enables the Company to invest in more significant artistic projects from time to time while creating increased financial resilience for the Company. Thanks to the receipt of two significant legacies during the past few years, the level of reserves currently exceed the agreed minimum level. The trustees believe that the level of general reserves is both sufficient to meet these aims, and to provide some financial support in continuing uncertain times. |
The trustees are mindful of increasing interest rates, and as such since the year end the Charity has invested £97,954 in an interest bearing fixed term deposit account. This amount represents the total of legacy funds received in 2021 and 2022. Including accrued increase, this amount had increased to £99,485 at the end of 2023. |
Financial Review |
The income of the company is generally derived from ticket sales for public concert performances as well as donations from grant-giving companies and support from individuals. The Company is particularly grateful to Friends and Patrons, and other individual donors for their commitment to the Peasmarsh Chamber Music Festival. During 2023, the Charity was delighted to welcome back a number of Friends and Patrons, whose support is invaluable. At 31 December 2023 the Charity's reserves stood at £142,086, including £99,485 legacies, which have been placed in a designated fund as described further below. |
During 2023 the Friends and Patrons of the Peasmarsh Chamber Music Festival donated £47,295 (2022: £47,944) to support the festival. The company also benefited from additional gift aid of £7,582 (2022: £9,096). The company secured grants totalling £5,000 in 2023 (2022: £5,600). |
The total income of the company from all sources was £96,777 (2022: £160,743); the principal change came from the fact that we had received a significant legacy in 2022, which was not repeated in 2023. At the end of the period the company had £142,085 (2022: £149,125) in unrestricted funds and £0 (2022 £0) in restricted funds, the restricted funds secured for education having been spent on education work during the year. |
THE PEASMARSH CHAMBER MUSIC |
FESTIVAL TRUST (REGISTERED NUMBER: 04625088) |
TRUSTEES' REPORT |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FUTURE PLANS |
In June 2024, the Peasmarsh Chamber Music Festival was able to take place as in past years, with a very successful four days of concerts. Capacity was increased in both Peasmarsh and Rye churches. Nine live concerts were held across four days, including a large scale education performance in St Mary's Church in Rye which brought performers together from around 150 participants in our five partner schools. |
Our partner schools all undertook workshops in May and June 2024, and all five partner schools have indicated their enthusiasm for a continuing involvement in the Charity's educational programme in future years. |
It is intended that in future years the company will again support a four day festival of chamber music, at which Anthony Marwood and Richard Lester will perform and invite other leading musicians to join them in presenting an eclectic programme of classical music. |
The trustees are very grateful to all those supporters who have donated to the Company during 2023. The receipt of significant legacies in both 2022 and 2021 has enabled the Charity to make some ambitious plans for the future. The Trustees have allocated these legacy funds into a designated fund to support specific projects as distinct from funding ongoing operational costs. |
It is intended that the legacy funds are used to commission a series of new works for chamber ensemble in partnership with selected venues in the UK and further afield. These commissions will ensure both an enduring musical legacy be created with these funds and, through these partnerships, that additional public benefit be derived through sharing these newly commissioned works with a wider audience than attends the Festival. It is hoped that these works might be recorded such that they might also be made available more widely through digital platforms. Discussions are ongoing place both with composers who might be suitable candidates for these commissions and with the Wigmore Hall, which has offered the Charity three dates from 2025 onwards on which to perform these new works. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The Peasmarsh Chamber Music Festival Trust is a company limited by guarantee, without share capital, incorporated on 24 December 2002 as the Florestan Trust and registered as a charity on 14 February 2003. At an EGM on 26 March 2012 its trustees passed a special resolution to change its name to The Peasmarsh Chamber Music Festival Trust, and it was incorporated as such on 12 April 2012. |
The company was established under a Memorandum of Association, which sets out the objects and powers of the charitable company and is governed by its Articles of Association. At the 2014 AGM, the Members approved a Special Resolution to adopt revised Articles of Association reflecting recent changes in Company and Charity law. |
Recruitment and appointment of new trustees |
Members may elect or re-elect Trustees by ordinary resolution at the AGM and the Board may co-opt Trustees between AGMs. |
Organisational structure |
The Company is managed and administered on a day-to-day basis by its General Manager. The General Manager confers regularly with the artistic directors and reports regularly to the Chairman of the Trustees. The Board of Trustees meets every few months to review the activities of the company and to consider more closely the financial and managerial status. |
Induction and training of new trustees |
In 2011/12 the Trust introduced an induction process and introduction packs for new Trustees. |
THE PEASMARSH CHAMBER MUSIC |
FESTIVAL TRUST (REGISTERED NUMBER: 04625088) |
TRUSTEES' REPORT |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Risk management |
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The trustees consider the detailed operations of the company and the associated risks at their regular trustees' meetings. A detailed risk assessment is carried out each June ahead of the annual Festival. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
D Brierwood - appointed 22.03.23 |
G Dunning KC |
V Dyer |
R Jennings |
P Millett |
S Mortimore KC (Chair) |
D A Rowland - appointed 20.12.23 |
J Sebline |
Independent Examiner |
Gibbons Mannington & Phipps LLP |
Chartered Accountants |
82 High Street |
Tenterden |
Kent |
TN30 6JG |
Principal Staff |
A Rowe |
Approved by order of the board of trustees on |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
THE PEASMARSH CHAMBER MUSIC |
FESTIVAL TRUST |
Independent examiner's report to the trustees of The Peasmarsh Chamber Music Festival Trust ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
Independent examiner's statement |
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. |
Mr David Ashby |
The Association of Chartered Certified Accountants |
Gibbons Mannington & Phipps LLP |
Chartered Accountants |
82 High Street |
Tenterden |
Kent |
TN30 6JG |
26 September 2024 |
THE PEASMARSH CHAMBER MUSIC |
FESTIVAL TRUST |
STATEMENT OF FINANCIAL ACTIVITIES |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
funds | fund | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
Charitable activities | 4 |
Investment income | 3 |
Total |
EXPENDITURE ON |
Charitable activities | 5 |
Concerts & Education programmes | 84,633 | 7,419 | 92,052 | 87,625 |
Other |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
Transfers between funds | 12 | (2,419 | ) | 2,419 | - | - |
Net movement in funds | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 149,125 |
THE PEASMARSH CHAMBER MUSIC |
FESTIVAL TRUST (REGISTERED NUMBER: 04625088) |
BALANCE SHEET |
31 DECEMBER 2023 |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
funds | fund | funds | funds |
Notes | £ | £ | £ | £ |
CURRENT ASSETS |
Debtors | 10 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 11 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 12 |
Unrestricted funds | 149,125 |
TOTAL FUNDS | 149,125 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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. |
THE PEASMARSH CHAMBER MUSIC |
FESTIVAL TRUST (REGISTERED NUMBER: 04625088) |
BALANCE SHEET - continued |
31 DECEMBER 2023 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
THE PEASMARSH CHAMBER MUSIC |
FESTIVAL TRUST |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 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. Any incoming resources received in an accounting period that relate exclusively to future years are deferred on the balance sheet. |
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. |
Allocation and apportionment of costs |
Direct activity costs comprise those costs that contribute directly to an activity and are allocated to the relevant activity. |
Support costs comprise those costs that are necessary to deliver any activity but in themselves do not produce or deliver an activity. |
Support costs are allocated to each direct activity based on direct costs for each activity as a proportion of total direct activity costs. |
Governance costs are those costs incurred to meet statutory and constitutional requirements. |
All costs are allocated against the fund to which they relate. Costs that cannot be identified to specific funds are allocated across funds using appropriate apportionment methods based on the funds use of the relevant service or resource. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Restricted funds |
These represent income received that is subject to specific restrictions for use determined by the donor which are narrower than the charitable company's general objects. |
General funds |
These represent all other funds held for the general purpose of the charitable company. |
THE PEASMARSH CHAMBER MUSIC |
FESTIVAL TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2. | DONATIONS AND LEGACIES |
2023 | 2022 |
£ | £ |
Gifts and donations |
Legacies |
Friends and Patrons of Peasmarsh Festival | 47,295 | 47,944 |
3. | INVESTMENT INCOME |
2023 | 2022 |
£ | £ |
Deposit account interest |
4. | INCOME FROM CHARITABLE ACTIVITIES |
2023 | 2022 |
Activity | £ | £ |
Peasmarsh Festival Ticket sales |
Peasmarsh Festival Ticket sales |
31,591 |
33,364 |
Programmes and advertising |
Programmes and advertising |
2,757 |
2,581 |
Gift Aid | Gift Aid | 7,582 | 9,096 |
5. | CHARITABLE ACTIVITIES COSTS |
Direct |
Costs |
£ |
Programmes and advertising | 9,482 |
Concerts & Education programmes | 92,052 |
101,534 |
6. | SUPPORT COSTS |
Governance |
Other | costs | Totals |
£ | £ | £ |
Other resources expended | 811 | 1,472 | 2,283 |
THE PEASMARSH CHAMBER MUSIC |
FESTIVAL TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
6. | SUPPORT COSTS - continued |
Support costs, included in the above, are as follows: |
2023 | 2022 |
Other |
resources | Total |
expended | activities |
£ | £ |
Insurance | 653 | 710 |
Post, stationery and office supplies | 158 | 289 |
Bank charges | 263 | 209 |
Sundries | 13 | 35 |
Accountancy | 1,196 | 1,212 |
2,283 | 2,455 |
7. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022. |
8. | STAFF COSTS |
There were no employees or staff costs for the year ended 31 December 2023 nor for the year ended 31 December 2022. |
9. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
funds | fund | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Total |
EXPENDITURE ON |
Charitable activities |
6,790 | - |
Concerts & Education programmes | 82,333 | 5,292 | 87,625 |
Other |
THE PEASMARSH CHAMBER MUSIC |
FESTIVAL TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
9. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted | Restricted | Total |
funds | fund | funds |
£ | £ | £ |
Total |
NET INCOME |
Transfers between funds | 308 | (308 | ) | - |
Net movement in funds |
RECONCILIATION OF FUNDS |
Total funds brought forward | 85,252 | - |
TOTAL FUNDS CARRIED FORWARD | 149,125 | - | 149,125 |
10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Prepayments |
11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Deferred income |
Accruals |
12. | MOVEMENT IN FUNDS |
Net | Transfers |
movement | between | At |
At 1/1/23 | in funds | funds | 31/12/23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 51,171 | (6,152 | ) | (2,419 | ) | 42,600 |
Designated funds | 97,954 | 1,531 | - | 99,485 |
(4,621 | ) | ( |
) |
Restricted funds |
Restricted Funds | - | (2,419 | ) | 2,419 | - |
TOTAL FUNDS | (7,040 | ) | 142,085 |
THE PEASMARSH CHAMBER MUSIC |
FESTIVAL TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
12. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 90,246 | (96,398 | ) | (6,152 | ) |
Designated funds | 1,531 | - | 1,531 |
( |
) | (4,621 | ) |
Restricted funds |
Restricted Funds | 5,000 | (7,419 | ) | (2,419 | ) |
TOTAL FUNDS | ( |
) | (7,040 | ) |
Comparatives for movement in funds |
Net | Transfers |
movement | between | At |
At 1/1/22 | in funds | funds | 31/12/22 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 85,252 | 5,611 | (39,692 | ) | 51,171 |
Designated funds | - | 57,954 | 40,000 | 97,954 |
85,252 | 63,565 | 308 | 149,125 |
Restricted funds |
Restricted Funds | - | 308 | (308 | ) | - |
TOTAL FUNDS | 85,252 | 63,873 | - | 149,125 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 97,189 | (91,578 | ) | 5,611 |
Designated funds | 57,954 | - | 57,954 |
155,143 | (91,578 | ) | 63,565 |
Restricted funds |
Restricted Funds | 5,600 | (5,292 | ) | 308 |
TOTAL FUNDS | 160,743 | (96,870 | ) | 63,873 |
THE PEASMARSH CHAMBER MUSIC |
FESTIVAL TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
12. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined position is as follows: |
Net | Transfers |
movement | between | At |
At 1/1/22 | in funds | funds | 31/12/23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 85,252 | (541 | ) | (42,111 | ) | 42,600 |
Designated funds | - | 59,485 | 40,000 | 99,485 |
85,252 | 58,944 | (2,111 | ) | 142,085 |
Restricted funds |
Restricted Funds | - | (2,111 | ) | 2,111 | - |
TOTAL FUNDS | 85,252 | 56,833 | - | 142,085 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 187,435 | (187,976 | ) | (541 | ) |
Designated funds | 59,485 | - | 59,485 |
246,920 | (187,976 | ) | 58,944 |
Restricted funds |
Restricted Funds | 10,600 | (12,711 | ) | (2,111 | ) |
TOTAL FUNDS | 257,520 | (200,687 | ) | 56,833 |
Transfers between funds |
The transfer from the restricted to unrestricted funds represents the contribution to the cost to the Charity of administering the education projects. |
THE PEASMARSH CHAMBER MUSIC |
FESTIVAL TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
13. | RELATED PARTY DISCLOSURES |
The total amount of donations received from trustees during the year, without conditions, totalled £4,550 (2022: £10,180). |
14. | CONTINGENT ASSETS |
The charity was notified of a legacy during the year of £11,818 which was not received until after the year end. |