The trustees present their annual report and financial statements for the year ended 31 December 2025.
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 Income funds'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)".
Policies and objectives
On 2 November 2020 the charitable company's objects were amended by special resolution to include the following:
To promote, maintain, improve and advance education and research in world cultures and multi-cultural education.
The prevention or relief of poverty in the United Kingdom by providing grants, donations, bursary scheme to individuals to assist in the provision of education and training to enable individuals to generate a sustainable income and become self-sufficient.
The charitable company works with external third parties from across the world to engage, educate and inspire children, young people and adults. Connecting to the richness of a global heritage, we offer opportunities for cultural exchange, learning and active participation, bringing the arts of different cultures into the heart of schools and communities worldwide.
The charitable company is a registered educational charity based in Wiltshire, UK. Our programme has evolved over thirty years, funding and delivering educational projects independently of the WOMAD festival. These include funding workshops, master classes, residencies and outreach projects, CPD (Continuing Professional Development) programmes and Creative Learning (training) for adults and educators. We regularly contribute to conferences both nationally and internationally.
Our long term experience, international connections and partnerships offer opportunities for innovation, curriculum development, wider learning and creative thinking, exploring the sometimes 'invisible connections' that exist within art and education.
Activities for achieving objectives
The focus of our work remains funding:
Residential cultural arts and music programmes in schools, college and community venues with particular regard to cross curricular cultural projects.
Supporting arts and education organisations both in the UK and internationally.
'Creative Learning' training programmes for artists intending to work within an educational context.
Researching and producing educational resources to support artiest residencies and workshop programmes.
Contributions to seminars and symposiums on music, arts and culture within a broad educational remit.
Developing inclusive projects with marginalised groups with little access to cultural / creative activities.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Income funds should undertake.
Review of activities
Fundraising at Charlton Park WOMAD Festival Growing Music
The Trustees continued to collaborate with the WOMAD Festival held at Charlton Park to raise the profile of the WOMAD Foundation and in doing so raise donations from individuals in person or via the Just Giving website.
However, due to commercial reasons, the WOMAD Festival was not held in 2025 and this impacted on the amount of funds available for distribution in 2025 which due to the lead time impacted on the grant funded projects in 2026. The WOMAD Festival is set for return in 2026 with tickets on sale.
The Foundation continues to explore all fundraising opportunities.
Grants
The Foundation approved grants totalling £625 in the year relating to a completed project in 2024 called Folkestone Performing Arts.
No further grants were approved in 2025.
The Foundation received donations of £21,456 in the year and in the absence of receiving donations from the WOMAD Festival it has enabled the Foundation to start the process of receiving grant applications in 2027 which will go through a due process to ensure the validity of the project and to ensure it complied with the Foundation's articles.
Due to the nature of the projects being hosted and run it is very difficult to assess or measure the outcome. The trustees believe the completed programmes met the remits given to the company and events were successful and well attended.
The challenge of raising funds to meet the objectives of the company continues to be one that the Trustees endeavour to meet. They are convinced of the value of the work with young people and adults but in the current economic climate it has become more and more difficult to secure the support that is needed to ensure the complete range and scope of previous funded projects are supported in the future.
There have been no principal sources of funding in recent years with the charity continuing to be reliant on ad hoc support of local organisations and fundraising.
The charity reports a net asset position of £34,898 (2024: £14,869) at the year end. These reserves include just unrestricted funds. There are no restricted funds in both current and prior year.
The trustees acknowledge that the level of reserves at the year end are in line with the policy of having sufficient funds to meet the core costs for the next six months.
The trustees have assessed the major risks to which the company is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
The trustees acknowledge that the level of reserves at the year end are in line with the policy of having sufficient funds to meet the core costs for the next six months.
The trustees have assessed the major risks to which the Income funds is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
The World of Music Arts and Dance Foundation became registered as a charity with the Charity Commission for England and Wales on 29 March 1984. It is a charitable company limited by guarantee, with no share capital, and is governed by its Memorandum and Articles of Association dated 16 February 1984 as amended by special resolution dated 2 November 2020.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
The power of appointing new or additional trustees is exercisable by the existing trustees. The trustees meet at such intervals as they consider appropriate.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The trustees' report was approved by the Board of Trustees.
The trustees, who are also the directors of The World of Music Arts and Dance Foundation 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 Income funds 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 Income funds 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 Income funds 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 Income funds and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The World of Music Arts and Dance Foundation for the year ended 31 December 2025, which comprise the statement of financial activities and the related notes from the charity’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made to the charity's trustees, as a body, in accordance with the terms of our engagement letter dated 25 September 2026. Our work has been undertaken solely to prepare for your approval the financial statements of The World of Music Arts and Dance Foundation and state those matters that we have agreed to state to the charity's trustees, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The World of Music Arts and Dance Foundation and the charity's trustees as a body, for our work or for this report.
It is your duty to ensure that The World of Music Arts and Dance Foundation has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and surplus of The World of Music Arts and Dance Foundation. You consider that The World of Music Arts and Dance Foundation is exempt from the statutory audit requirement for the year, and is not required to obtain an independent examiner's report.
We have not been instructed to carry out an audit or a review of the financial statements of The World of Music Arts and Dance Foundation. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The World of Music Arts and Dance Foundation is a private company limited by guarantee incorporated in England and Wales. The registered office is Box Mill, Mill Lane, Corsham, Wiltshire, SN13 8PL.
The financial statements have been prepared in accordance with the Income funds'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 Income funds is a Public Benefit Entity as defined by FRS 102.
The Income funds has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the Income funds. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The challenge of raising funds to meet the objectives of the charity continues to be one that the Trustees endeavour to meet. They are convinced of the value of the work with young people and adults but in the current economic climate it has become more and more difficult to secure the support that is needed to ensure the complete range and scope of previous funded projects are supported in the future.
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.
Cash donations are recognised on receipt. Other donations are recognised once the Income funds 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.
Expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources.
Support costs are those costs incurred directly in support of expenditure on the objects of the charity. Governance costs are those incurred in connection with the administration of the charity and compliance with constitutional and statutory requirements.
All governance and support costs are incurred in connection with charitable activities and have been allocated accordingly.
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 Income funds 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 Income funds's balance sheet when the Income funds 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, 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.
Financial liabilities are derecognised when the Income funds’s contractual obligations expire or are discharged or cancelled.
Management fees
Subscriptions
Accountancy
Sundry expenses
All support costs and governance costs are incurred in connection with charitable activities and have been allocated accordingly.
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
During the year the charitable company was charged £500 (2024: £500) by Real World Holdings Limited, a company of which Mr M D Large is also a director, in respect of use of the trademark.
During the year the charitable company received donations of £288 (2024: £nil) from Real World Holdings Limited, a company of which Mr M Large is director of.