Charity registration number 213125
Company registration number 00177744 (England and Wales)
THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Deborah Kate Ward (Chair)
Priscilla Louise Morris (Vice Chair)
John Logan (Honorary Treasurer)
Yvonne Baisden
Christopher Philip Blurton (Vice Chair)
(Appointed 12 May 2023)
Annette Brown
(Appointed 8 May 2024)
Clara Angela Iris Lane
Robert MacDonald
Fiona McLean-Buechel
(Appointed 4 September 2024)
Jill Elisabeth Wright
Senior management
Claire Lloyd
General Manager
Charity number
213125
Company number
00177744
Registered office
Festivals House
198 Park Lane
Macclesfield
Cheshire
SK11 6UD
Independent examiner
V J Atkinson
BK Plus Limited
52 St Johns Lane
Halifax
West Yorkshire
HX1 2BW
Website
www.federationoffestivals.org.uk
Investment advisors
Brewin Dolphin
12 Smithfield Street
London
ED1A 9BD
THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH
CONTENTS
Page
Trustees' report
1 - 5
Independent examiner's report
7
Statement of financial activities
8 - 9
Balance sheet
10 - 11
Statement of cash flows
Notes to the financial statements
12 - 22
THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

The trustees present their annual report and financial statements for the year ended 31 March 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Companies Act 2006 and "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

The objectives of The British and International Federation of Festivals for Music, Dance and Speech (‘BIFF’) are to advance, promote and encourage participation in all branches of performing arts.

 

The benefits to individuals and communities of participation in performing arts are widely recognised. Participation hones and develops life skills, quite apart from developing skills in the performance art itself. For many people, a performance offers a real sense of achievement which may not be equalled in their experience of other activities. In earlier years, participation in performing arts is a key component of a balanced education.

Principle activities

The principle activity of BIFF is as key support organisation for those involved in festivals featuring amateur performers. It provides a wide range of services and resources to facilitate delivery of fulfilling, inspiring and educational performance opportunities for everyone. The services and resources on offer continually evolve and develop to reflect current best practice and to meet ever changing needs and expectations.

 

Festivals play an important role in keeping alive local interest in the arts. They strengthen and support community activities by providing a meeting place for amateur artists of all ages. They encourage cooperation among various artforms for the common purpose of achieving higher standards of performance. While the practice of an artform may remain a source of valuable recreation for many performers, every professional began as an amateur. Many distinguished artists acknowledge that their first performance platform was provided by their local festival.

Public benefit

The trustees have complied with their duty to have due regard to the guidance on public benefit, published by the Commission, in exercising their powers or duties. The trustees consider how planned activities will contribute to BIFF’s aims and objectives.

Strategic report

The description under the headings "Achievements and performance" and "Financial review" meet the company law requirements for the trustees to present a strategic report.

THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
Achievements and performance

BIFF engages in wide-ranging activities to support festivals, to help them to develop and grow, and to promote implementations of best practice in many important areas. In addition to festivals, BIFF has adjudicators, accompanists and supporters among its members. It actively encourages new members in all its membership categories.

 

For those starting a festival, or who are new to organising an established one, BIFF offers members extensive resource materials and guidance covering almost every aspect of festival organisation. New festivals join each year and BIFF provides information on its website about becoming a member.

 

Many member festivals work with children and some also work with vulnerable adults. BIFF has developed extensive guidance on safeguarding and has prepared materials that festivals may use when formulating, implementing and communicating safeguarding policies.

BIFF recognises the importance of professional adjudicators and accompanists to festivals. Skilled adjudicators inspire and educate performers and audience alike. Each performer should leave a festival with some useful advice for further development and a real sense of achievement. BIFF encourages all adjudicator members to attend annual conference and on-line meetings where new skills, approaches and ideas are explored.

 

The small staff team at Festivals House provides year-round support for members. Improved facilities allow the staff to adopt more modern working practices, working from home as well as from the office.

 

BIFF supports a UK-wide network of ‘Regional Forums’. These meetings, which are open to all Federation members, are usually held twice a year and are facilitated by voluntary forum officers. Members share experience and practice, and additional meetings may be held to give further time to individual matters of interest and importance to forum members. Members of Federation staff attend a number of these meetings to talk about areas of concern and development, and as an opportunity to meet members. The rolling programme of visits to festivals in each region undertaken by forum officers has resumed.

 

The 2023 BIFF annual conference returned to its usual format – a live, in-person event – and was held at the Warwick University Conference Centre from 6th to the 8th of October. It comprised a series of presentations and discussions which were topical, relevant and of interest to festival members and adjudicators. The keynote speaker was Stuart Murphy, outgoing Chief Executive Officer at the English National Opera. In his inspiring address, Stuart spoke of his experience within broadcasting and the importance of the arts in society.

 

In addition to attending conference sessions, attendees had many opportunities to meet and establish contact with fellow members and to share and exchange ideas and experiences.

 

At conference, there was an in-depth introduction to the new mark scheme which has now launched after significant input from the Adjudicators’ Council and the Board of Trustees. The trustees wish to thank all of those involved in the creation of the new mark scheme for their hard work and efforts in bringing about this momentous piece of work. The trustees would also like to thank all those festivals who took part in the trials as well as everyone who offered feedback.

 

The transition from outgoing to incoming Chair of the Board of Trustees took place at conference. There is a huge amount of appreciation and respect for Steven Roberts’ work and efforts not only among the board of trustees but also within the wider membership. Incoming Chair Deborah Ward picked up the mantle from Steven and has the full support of her trustee colleagues.

 

The trustees acknowledge the valuable work undertaken by the Festivals House team, past and present, and the tireless efforts of members and volunteers throughout the Festival movement to ensure that many thousands of amateur performers will continue to have the opportunity to take part and to benefit from professional adjudication. The trustees will continue to work to deliver and enhance services to the membership and to fulfil the vision and aims of BIFF.

 

THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
Financial review

2023/2024 has been a challenging year for BIFF. Whilst there has been a moderate increase in income this has been outstripped by above inflation increase in costs, most of which being outside our control; resulting in an operating loss (before investment gains) of £15,681.

 

Investments at year end show an improvement on the previous year, and income from investments has increased.

 

The decision has been taken to sell Festivals House, which, in due course, will have the dual benefit of providing much needed additional funds and reducing overheads. In the interim the directors, in conjunction with staff, will strive to redress the imbalance between income and expenditure.

Reserves policy

The trustees currently maintain a reserves policy set at £150,000, which equates to approximately 12 months expenditure. A surplus of funds is held in investments, which the Board considers necessary to generate a return on investment to support working capital, and to protect against any consequence that could threaten the continuity of the charity's work.

 

Excluding tangible fixed assets the value of unrestricted funds at year end was £273,610

Structure, governance and management

Company and charity information

The British and International Federation of Festivals for Music, Dance and Speech ('BIFF') is a private company, limited by guarantee, and registered in England and Wales, number 00177744. Its registered office, which is also its principal office, is Festivals House, 198 Park Lane, Macclesfield, SK11 6UD. It is registered as a charity with the Charity Commission, charity number 213125.

 

Governing document

BIFF is governed by its Memorandum and Articles of Association which were last amended on 5 October 2014. The company was formed in 1921.

Recruitment and appointment of trustees

Trustees are elected by members of BIFF and may be proposed by members or identified by serving Trustees. A skills analysis of trustees is conducted and where a shortfall is identified a recruitment plan is devised to address it. All trustees, including those elected honorary officers (chair, vice chair and honorary treasurer), retire at the Annual General Meeting following the third year of their appointment. A trustee who is not elected an honorary officer may serve continuously for a maximum of nine years. In normal circumstances, an honorary officer may serve continuously for a maximum of nine years from the date of first election to the honorary office.

Risk management

The trustees have a duty to identify and review the risks to which BIFF is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The risk management strategy is managed by the Board of Trustees and comprises an annual review of the risks the organisation may face; the establishment of systems and procedures to mitigate those risks; and the implementation of procedures designed to minimise any potential impact on the organisation.

 

The Board of Trustees maintains a risk register, which is reviewed annually. Insurance covers the major financial risks and is reviewed annually. Systems of internal control are designed to provide reasonable, but not absolute, assurance against material mis-statement or loss. The controls are:

 

THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
Trustees
Deborah Kate Ward (Chair)
Priscilla Louise Morris (Vice Chair)
John Logan (Honorary Treasurer)
Yvonne Baisden
Christopher Philip Blurton (Vice Chair)
(Appointed 12 May 2023)
Annette Brown
(Appointed 8 May 2024)
Clara Angela Iris Lane
Keith Ronald Lowe
(Resigned 6 October 2023)
Robert MacDonald
Fiona McLean-Buechel
(Appointed 4 September 2024)
Steven Roberts
(Resigned 6 October 2023)
Jill Elisabeth Wright

Approved by order of the board of trustees and signed on its behalf by:

Deborah Kate Ward (Chair)
Trustee
3 December 2024
THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH
STATEMENT OF TRUSTEES' RESPONSIBILITIES  
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -

The trustees, who are also the directors of The British and International Federation of Festivals for Music, Dance and Speech for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

 

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

 

In preparing these financial statements, the trustees are required to:

 

- select suitable accounting policies and then apply them consistently;

 

- observe the methods and principles in the Charities SORP;

 

- make judgements and estimates that are reasonable and prudent; and

 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

 

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH
- 7 -

I report to the trustees on my examination of the financial statements of The British and International Federation of Festivals for Music, Dance and Speech (the charity) for the year ended 31 March 2024.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity 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 the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable 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 that in any material respect:

1

accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

2

the financial statements do not accord with those records; or

3

the financial statements 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 financial statements 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 financial statements to be reached.

V J Atkinson
BK Plus Limited
52 St Johns Lane
Halifax
West Yorkshire
HX1 2BW
Dated: 3 December 2024
THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
- 8 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
Notes
£
£
£
£
£
£
Income from:
Donations and legacies
3
10,668
-
10,668
7,991
-
7,991
Charitable activities
-
Copyright and Insurance
4
54,453
-
54,453
43,570
-
43,570
Members Subscriptions
4
75,565
-
75,565
71,704
-
71,704
Other trading activities
4
30,820
-
30,820
34,701
-
34,701
Investments
5
7,243
-
7,243
6,414
-
6,414
Total income
178,749
-
178,749
164,380
-
164,380
Expenditure on:
Raising funds
6
43,095
-
43,095
41,710
-
41,710
Charitable activities
Copyright, Insurance and DBS
7
57,650
-
57,650
43,717
-
43,717
Members Services
7
79,690
1,596
81,286
71,848
100
71,948
Members Support and Administration
7
10,121
-
10,121
10,014
-
10,014
Governance
7
2,278
-
2,278
2,156
-
2,156
Total charitable expenditure
149,739
1,596
151,335
127,735
100
127,835
Total expenditure
192,834
1,596
194,430
169,445
100
169,545
Net gains/(losses) on investments
11
13,388
-
13,388
(18,630)
-
(18,630)
Net expenditure
(697)
(1,596)
(2,293)
(23,695)
(100)
(23,795)
Other recognised gains and losses:
Revaluation of tangible fixed assets
-
-
-
(152,500)
-
(152,500)
Net movement in funds
8
(697)
(1,596)
(2,293)
(176,195)
(100)
(176,295)
Reconciliation of funds:
Fund balances at 1 April 2023
434,098
5,350
439,448
610,293
5,450
615,743
THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
- 9 -
Fund balances at 31 March 2024
433,401
3,754
437,155
434,098
5,350
439,448

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 10 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
13
159,791
162,139
Investments
14
234,130
222,909
393,921
385,048
Current assets
Stocks
15
400
173
Debtors
16
46,693
42,379
Cash at bank and in hand
21,282
36,745
68,375
79,297
Creditors: amounts falling due within one year
18
(14,991)
(13,204)
Net current assets
53,384
66,093
Total assets less current liabilities
447,305
451,141
Creditors: amounts falling due after more than one year
20
(10,150)
(11,693)
Net assets excluding pension liability
437,155
439,448
Net assets
437,155
439,448
The funds of the charity
Restricted income funds
21
3,754
5,350
Unrestricted funds
433,401
434,098
437,155
439,448

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 11 -
The financial statements were approved by the trustees on 25 November 2024
John Logan (Honorary Treasurer)
Trustee
Company registration number 00177744 (England and Wales)
THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 12 -
1
Accounting policies
Charity information

The British and International Federation of Festivals for Music, Dance and Speech is a private company limited by guarantee incorporated in England and Wales. The registered office is Festivals House, 198 Park Lane, Macclesfield, Cheshire, SK11 6UD.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4
Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 13 -
1.5
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
1% on revaluation
Fixtures and fittings
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8
Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.10
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 14 -
1.11
Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.12
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 15 -
2
Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Income from donations and legacies
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Donations and gifts
10,668
7,991
4
Income from charitable activities
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Copyright and Insurance

Copyright and insurance

54,453
43,570
Members Subscriptions

Members Subscriptions

75,565
71,704
Other trading activities

Conference

29,385
32,467

Members services and other

1,435
2,234
160,838
149,975
5
Income from investments
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Interest receivable
7,243
6,414
THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 16 -
6
Expenditure on raising funds
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Fundraising and publicity

Travel and other costs

3,169
2,986

Conference costs

35,781
34,310

Centenary costs

4,025
4,289

Sales and Marketing/Profile Raising

120
125
43,095
41,710
7
Expenditure on charitable activities
Copyright, Insurance and DBS
Members Services
Members Support and Administration
Governance
Total
2024
2024
2024
2024
2024
£
£
£
£
£
Direct costs
Staff costs
18,864
66,977
8,490
-
94,331
Depreciation and impairment
955
1,322
168
-
2,445

Office costs

(1,826)
-
-
-
(1,826)

Copyright cover and insurance

30,230
-
-
-
30,230

Adjudicators costs

1,095
-
-
-
1,095
49,318
68,299
8,658
-
126,275
Share of support and governance costs (see note )
Support
8,332
12,987
1,463
-
22,782
Governance
-
-
-
2,278
2,278
57,650
81,286
10,121
2,278
151,335
Analysis by fund
Unrestricted funds
57,650
79,690
10,121
2,278
149,739
Restricted funds
-
1,596
-
-
1,596
57,650
81,286
10,121
2,278
151,335
THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
7
Expenditure on charitable activities
(Continued)
- 17 -
Previous year:
Copyright, Insurance and DBS
Members Services
Members Support and Administration
Governance
Total
2023
2023
2023
2023
2023
£
£
£
£
£
Direct costs
Staff costs
17,209
61,092
7,744
-
86,045
Depreciation and impairment
2,675
-
-
-
2,675

Copyright cover and insurance

17,840
997
897
-
19,734
37,724
62,089
8,641
-
108,454
Share of support and governance costs (see note )
Support
5,993
9,859
1,373
-
17,225
Governance
-
-
-
2,156
2,156
43,717
71,948
10,014
2,156
127,835
Analysis by fund
Unrestricted funds
43,717
71,848
10,014
2,156
127,735
Restricted funds
-
100
-
-
100
43,717
71,948
10,014
2,156
127,835
8
Net movement in funds
2024
2023
£
£
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets
2,444
2,675
Depreciation of tangibles: Total SOFA charge differs from BS notes by:
(1)
-
9
Trustees

There was a total of £1058 of expenses paid to trustees during the financial year, £928 was reimbursed for traveling expenses (2023 - NIL) and £130 (2023 - NIL) related to other expenses incurred.

THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 18 -
10
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
General manager
1
1
Administrative and support
3
4
Total
4
5
Employment costs
2024
2023
£
£
Wages and salaries
89,649
83,401
Social security costs
2,703
1,038
Other pension costs
1,979
1,606
94,331
86,045
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel

The remuneration of key management personnel was as follows:

2024
2023
£
£
Aggregate compensation
43,369
39,806

The key management personnel of the charity have been identified as the general manager. The remuneration of the key management is set and reviewed annually by the trustee board.

11
Gains and losses on investments
Unrestricted
Unrestricted
funds
funds
2024
2023
Gains/(losses) arising on:
£
£
Revaluation of investments
11,189
(11,387)
Sale of investments
2,199
(7,243)
13,388
(18,630)
12
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 19 -
13
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Total
£
£
£
Cost
At 1 April 2023
160,000
66,665
226,665
Additions
-
96
96
At 31 March 2024
160,000
66,761
226,761
Depreciation and impairment
At 1 April 2023
1,600
62,926
64,526
Depreciation charged in the year
1,600
844
2,444
At 31 March 2024
3,200
63,770
66,970
Carrying amount
At 31 March 2024
156,800
2,991
159,791
At 31 March 2023
158,400
3,739
162,139
14
Fixed asset investments

Brewin Dolphin Investment Fund

£
Cost or valuation
At 1 April 2023
222,909
Additions
68,085
Valuation changes
13,388
Management fees
(2,117)
Movement in cash
(5,508)
Disposals
(62,627)
At 31 March 2024
234,130
Carrying amount
At 31 March 2024
234,130
At 31 March 2023
222,909
15
Stocks
2024
2023
£
£
Finished goods and goods for resale
400
173
THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 20 -
16
Debtors
2024
2023
Amounts falling due within one year:
£
£
Prepayments and accrued income
46,693
42,379
17
Loans and overdrafts
2024
2023
£
£
Bank loans
12,013
13,556
Payable within one year
1,863
1,863
Payable after one year
10,150
11,693
18
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Bank loans
17
1,863
1,863
Other taxation and social security
1,944
2,417
Trade creditors
2,251
1,620
Other creditors
252
32
Accruals and deferred income
8,681
7,272
14,991
13,204
19
Secured Debts

A bank overdraft facility is secured via a fixed legal charge, dated 19 March 2010, over the charity property at 198 Park Lane, held by Royal Bank of Scotland.

 

During the year ended 31 March 2024, and the prior year, the facility has not been utilised.

20
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans
17
10,150
11,693
THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 21 -
21
Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 April 2023
Resources expended
At 31 March 2024
£
£
£
-
(50)
(50)
S Harrison Fund
50
-
50
Margaret Lane Award
3,300
(50)
3,250
West London Pianoforte Festival
2,000
(1,496)
504
5,350
(1,596)
3,754
Previous year:
At 1 April 2022
Resources expended
At 31 March 2023
£
£
£
S Harrison Fund
50
-
50
Margaret Lane Award
3,400
(100)
3,300
West London Pianoforte Festival
2,000
-
2,000
5,450
(100)
5,350
22
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April 2023
Incoming resources
Resources expended
Gains and losses
At 31 March 2024
£
£
£
£
£
General funds
434,098
178,749
(192,834)
13,388
433,401
Previous year:
At 1 April 2022
Incoming resources
Resources expended
Gains and losses
At 31 March 2023
£
£
£
£
£
General funds
610,293
164,380
(169,445)
(171,130)
434,098
THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 22 -
23
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2024
2024
2024
£
£
£
At 31 March 2024:
Tangible assets
159,791
-
159,791
Investments
234,130
-
234,130
Current assets/(liabilities)
49,484
3,900
53,384
Long term liabilities
(10,150)
-
(10,150)
433,255
3,900
437,155
Per balance sheet
433,401
3,754
437,155
Balance to allocate
146
(146)
-
Unrestricted
Restricted
Total
funds
funds
2023
2023
2023
£
£
£
At 31 March 2023:
Tangible assets
162,139
-
162,139
Investments
222,909
-
222,909
Current assets/(liabilities)
60,743
5,350
66,093
Long term liabilities
(11,693)
-
(11,693)
434,098
5,350
439,448
24
Operating lease commitments
Lessee

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2024
2023
£
£
Within one year
696
-
Between two and five years
348
-
1,044
-
25
Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

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