REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 July 2024 |
for |
East Neuk Festival |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 July 2024 |
for |
East Neuk Festival |
East Neuk Festival |
Contents of the Financial Statements |
for the Year Ended 31 July 2024 |
Page |
Report of the Trustees | 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 | 15 |
East Neuk Festival (Registered number: SC413581) |
Report of the Trustees |
for the Year Ended 31 July 2024 |
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 2024. 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 2024 |
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. |
2024 was the 20th anniversary of the founding of East Neuk Festival [ENF]. ENF 2024 took place between 26-20 June 2024 and included 19 performances over 5 days in 7 towns covering a range of music that included classical, swing jazz, jazz-roots fusion, celtic-classical fusion, silent film, community arts, contemporary and experimental. 1 Big Project which took place throughout June and culminated in a performance at the festival |
An international line-up of performers included Hisako Kawamura (piano), The Doric Quartet, Margret Koell (harps) and Stefan Temingh (recorders), Richard Morrison, Pavel Haas Quartet, Belfiato Winds, Ian Watt (guitar), Opus13 string quartet, Esther Swift (harp/voice/composer), Boris Giltburg (piano), Aoife ni Bhriain (fiddle), Catrin Finch (harp), Renaud Garcia Fons (bass), Serkan Halili (kanun), Kiko Ruiz (flamenco guitar), Derya Turkan (kemenche), Julian Bliss Septet, Neil Brand, SCO and Maxim Emelyanchev. |
Repertoire included Western and non-Western music ranging from the 10th century to the present day, including a World Premiere commission by Esther Swift, new work by Aoife ni Bhriain and Catrin Finch, recent music by living composers Caroline Shaw and Andrea Tarrodi as well as Scottish premieres of music by Tiberiu Ola and Akio Yashiro. |
Among the musicians ENF was especially delighted to feature the young Norwegian quartet Opus13 and the young Czech wind ensemble Belfiato Quintet, both making their UK Debuts: ENF has made a feature of championing outstanding young performers since its inception and both of these attracted outstanding reviews. Other performers making UK debuts included Margret Koell, and Stefan Temmingh. |
ENF's ongoing series of community arts commissions (The Big Project) continued for a 12th year with Zulu by Esther Swift. Community participants included young performers from Cupar StAMP group and Tullis Russell young performers. Led by Swift they devised and performed music in sessions over 6 weeks to deliver a performance that was included in the main programme. |
As usual the festival staged events in different towns to offer communities live music in their own venues which included churches and halls in Crail, Kilrenny, Cellardyke, Anstruther, St Monans, Bowhouse, Elie and Earlsferry, reaching all of the larger communities of the East Neuk. Kellie Castle collaborated once again by renewing the ENF Labyrinth in its wildflower meadow creating a space for performance and nature to meet. |
BBC Radio 3 recorded events for future broadcast. Through its broadcasts, ENF reaches a global audience of more than 2,000,000 people. |
ENF 2024 attracted its biggest ticketed audience ever, and additionally saw the highest uptake of £5 under-17s tickets as well as its highest proportion of KY post code ticket buyers, demonstrating increased interest from local audiences across the programme. |
East Neuk Festival (Registered number: SC413581) |
Report of the Trustees |
for the Year Ended 31 July 2024 |
CRITICAL RESPONSE: |
ENF was listed as one of the UK's top festivals in The Times, The Sunday Times, The BBC Music Magazine and Gramophone Magazine, taking its place in the listings alongside Aldeburgh, The Proms and Glyndebourne. ENF was subsequently reviewed extremely positively in The Times, Seen and Heard, Bach Track, The Edinburgh Review: |
"For five days each June the little villages on the east coast of Fife host a remarkable musical celebration. This is the East Neuk Festival, and it's remarkable because for two decades it has attracted some of the world's top chamber musicians to play in a rural corner of Scotland that otherwise has little high-quality music-making." The Times |
'Fife's East Neuk Festival has always made a speciality of bringing artists together, but this year's programme did that not just with musicians but with composers. The festival's Meetings With Great Composers series showcased composers who knew and influenced one another - in last weekend's concerts Tchaikovsky with Rachmaninov, Grieg and Brahms - and to play their music the festival brought together top pianist Boris Giltburg and chamber music royalty, the Pavel Haas Quartet. Operating separately, these artists could sell out a hall in any European capital, so the chance to hear them playing both individually and together was a particularly delicious treat." The Times |
AUDIENCE RESPONSE: |
As mentioned above, ENF attracted its highest ticketed audience of its 20 years in 2024. The audience is a balance of 40% local, 45% from elsewhere in Scotland and 15% for elsewhere in the UK and abroad. |
ENF conducted a post-festival survey to which 310 people responded. |
Over-all they scored their experience at ENF 2024 93.4 out of 100, and their comments included specific affirmation of our key goals in 2024: |
ACCESS: we believe it is important to offer Scottish citizens who do not live in the major population centres excellent arts provision in their areas: |
"We loved the music and the luxury of having in on our doorstep' |
"Great Music in fabulous spaces close to us" |
"Top line performers and interesting programming. AND LOCAL" |
WELCOMING: While music is the focus of all we do, we make great efforts to ensure that audiences feel welcome and cared for: |
"Great musicianship but in a relaxed/informal atmosphere' |
"Excellent music in lovely places and the ENF staff always friendly and helpful" |
DIVERSE: ENF's programme seeks to offer a tempting array of different musical traditions and styles at the highest level of performance. |
"Enjoyed the fact that concerts did not just stick to conventional repertoire" |
"Loved hearing new young artists. Being introduced to some new (to me) composers and music" |
"loved the location and breadth of musical traditions offered" |
EXCELLENT: Above all we prize quality of performance: |
"Luna de Seda. Amazing" |
"Best concert I have ever been to" |
East Neuk Festival (Registered number: SC413581) |
Report of the Trustees |
for the Year Ended 31 July 2024 |
"Music was great - and the organisation is excellent" |
EDI Planning: in 2024, ENF drafted its first EDI plan and engaged a specialist (MOR Diversity) to review and advise us on our company structure, work, publicity, digital platforms and artistic planning. Sessions included the presentation of their conclusions, sharing of thoughts and ideas between them and the team, followed by written recommendations and actions, and an EDI checklist for use to use in future planning, which we are in the process of actioning. Their findings were very positive and acknowledged ENF's efforts to diversify programme, monitor targets, broaden access and include diverse artists and artistic genres. Primary actions are around communications and making our commitment more visible. |
FINANCES: |
Ticket sales exceeded expectation coming in 9% over target. We take this as evidence of a trend towards increased attendance at live events as the shadow of the lock down years recedes. |
Despite this exceptional success with ticket sales, overall income fell below target as a result of 2 key changes in the funding environment in recent years: |
TRUSTS: We based our Trusts income target on average results in previous years but saw the 'hit rate' fall from ave 15% success to ave 5% success in 2024. Having spoken to colleagues in other organisations we understand that we are not alone in this as Trusts are coming under exceptional pressure from increased volumes of applications. As this is a factor outwith our control we will adjust future targets while also investing more in research and applications from 2025. |
DONATIONS: Private giving reached 84% of target, the direct result of the death of 2 key donors who between them typically donated £15,000 - again not a circumstance in our control. Had their donations been made we should have been reporting a `better than expected result.' This vulnerability is balanced by a welcome increase in the number of new donors supporting ENF in 2024. |
Finally, expenditure was affected by exceptional inflationary pressure particularly on logistics costs, travel, accommodation and technical hires.We managed the fluctuations in income by finding savings and responded to the shortfall with no adverse impact on the plans, so the final result for the year is a modest deficit. |
Funding: ENF was grateful to receive an award of 2-year funding from Creative Scotland in 2024, which enabled it to plan its 20th year (2024) and its 20th festival (2025) in tandem. The benefit of secure finding of this kind is immeasurable as it facilitates the festival committing to plans and artists earlier, thereby enabling it to avoid damaging compromises and also freeing it to promote its activities further ahead. |
ENF was grateful for the continued support of its many private donors, and for the grants made to it by the following Trusts: |
The Cruden Foundation |
The D'Oyly Carte Charitable Trust |
The Hugh Fraser Foundation |
The Misses Barrie Charitable Trust |
The Russell Trust |
The Tay Charitable Trust |
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. |
East Neuk Festival (Registered number: SC413581) |
Report of the Trustees |
for the Year Ended 31 July 2024 |
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. |
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) |
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 2024 set out on pages seven to fifteen. |
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 |
27 November 2024 |
East Neuk Festival |
Statement of Financial Activities |
(Incorporating an Income and Expenditure Account) |
for the Year Ended 31 July 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
Charitable activities | 3 |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities | 4 |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
Transfers between funds | 11 | (2,365 | ) | 2,365 | - | - |
Net movement in funds | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 37,877 |
East Neuk Festival (Registered number: SC413581) |
Balance Sheet |
31 July 2024 |
2024 | 2023 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 8 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 9 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 11 |
Unrestricted funds | 36,442 |
Restricted funds | 1,435 |
TOTAL FUNDS | 37,877 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 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 2024 |
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 |
East Neuk Festival |
Notes to the Financial Statements |
for the Year Ended 31 July 2024 |
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 2024 |
2. | DONATIONS AND LEGACIES |
2024 | 2023 |
£ | £ |
Donations |
Grants |
3. | INCOME FROM CHARITABLE ACTIVITIES |
2024 | 2023 |
Activity | £ | £ |
Ticket sales | Events | 64,260 | 60,790 |
Performance fees | Events | 2,402 | 3,033 |
Hospitality donations | Events | 1,056 | 795 |
4. | CHARITABLE ACTIVITIES COSTS |
2024 | 2023 |
£ | £ |
Artist fees | 95,419 | 74,528 |
Staff | 85,600 | 73,572 |
Advertising | 16,912 | 6,799 |
Instrument hire | 6,583 | 3,060 |
Artists travel/accommodation | 24,636 | 20,967 |
Other direct costs | 28,948 | 32,853 |
Support costs | 5,219 | 4,212 |
Hire of equipment | 9,933 | 17,129 |
Staff travel/accommodation | 10,014 | 5,833 |
283,264 | 238,953 |
5. | SUPPORT COSTS |
Governance |
Finance | costs | Totals |
£ | £ | £ |
Events | 989 | 4,230 | 5,219 |
East Neuk Festival |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
5. | SUPPORT COSTS - continued |
Support costs, included in the above, are as follows: |
2024 | 2023 |
Total |
Events | activities |
£ | £ |
Bank charges | 489 | 452 |
Professional fees | 500 | - |
Independent examiner's fee | 4,230 | 3,760 |
5,219 | 4,212 |
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 2024 nor for the year ended 31 July 2023. |
7. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
Transfers between funds | (10,136 | ) | 10,136 | - |
Net movement in funds |
RECONCILIATION OF FUNDS |
Total funds brought forward | 25,799 | 1,435 |
East Neuk Festival |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
7. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
TOTAL FUNDS CARRIED FORWARD | 36,442 | 1,435 | 37,877 |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
VAT |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
VAT | - | 169 |
Accruals and deferred income |
10. | ANALYSIS OF NET ASSETS BETWEEN FUNDS |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
£ | £ | £ | £ |
Current assets |
Current liabilities | ( |
) | ( |
) | ( |
) | ( |
) |
15,706 | 1,435 | 17,141 | 37,877 |
East Neuk Festival |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
11. | MOVEMENT IN FUNDS |
Net | Transfers |
movement | between | At |
At 1.8.23 | in funds | funds | 31.7.24 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 36,442 | (18,371 | ) | (2,365 | ) | 15,706 |
Restricted funds |
Retreat | 1,435 | - | - | 1,435 |
The Big Project | - | (2,365 | ) | 2,365 | - |
(2,365 | ) |
TOTAL FUNDS | (20,736 | ) | 17,141 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 279,464 | (297,835 | ) | (18,371 | ) |
Restricted funds |
The Big Project | 6,500 | (8,865 | ) | (2,365 | ) |
TOTAL FUNDS | ( |
) | (20,736 | ) |
Comparatives for 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 |
East Neuk Festival |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
11. | MOVEMENT IN FUNDS - continued |
Comparative 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 |
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. |
The Big Project - Ongoing series of Community Arts commissions |
12. | RELATED PARTY DISCLOSURES |
There were no related party transactions for the year ended 31 July 2024 . |