LOOE MUSIC FESTIVAL

Charity number: 1152285
Removed charity

Charity overview

Activities - how the charity spends its money

Looe Music Festival is a not-for-profit, annual ticketed event. The charity?s aims are to promote and enhance the art of live music in Looe and to encourage citizenship through the delivery of an annual music festival in Looe, Cornwall. In delivering our charitable aims we endeavour to help regenerate our rural community by attracting a new generation of staying visitor to our rural community.

Income and expenditure

Data for financial year ending 30 November 2016

Total income:
£597,092

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Donations and legacies £1.56k
Charitable activities £595.54k
Other trading activities £0
Investments £0
Other £0

Total expenditure:
£684,777

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Raising funds £0
Charitable activities £684.78k
Other £0

£0 investments gains (losses)

Total income includes £47,263 from government grant(s)

Charitable expenditure

Charitable expenditure

Some charities generate all, or a substantial part, of their income from investments which may have been donated to the charity as endowment or set aside by the charity from its own resources in the past. Such investments usually take the form of stocks and shares but may include other assets, such as property, that are capable of generating income and/or capital growth.

In managing their spending and investments charities need to strike a balance between the needs of future and current beneficiaries. They also need to take account of spending commitments that may stretch over a number of future years. To do this, charities will normally adopt an investment strategy designed to generate both income and capital growth. To maximise returns trustees may commit to investment strategies for several years.

Investments can experience large swings in value so trustees may, in a particular year, decide to realise and spend part of their charity’s capital or to invest part of its income.

By clicking the investment gains checkbox the charitable spending bar is adjusted to take account of capital growth as well as income. This shows the balance the charity is striking, between spending on current beneficiaries and retaining resources for future beneficiaries.

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Raising funds and other expenditure £0
Charitable expenditure £684.78k

Fundraising

This charity raises funds from the public but does not work with commercial participators.

Trading

This charity does not have any trading subsidiaries.

Trustee payments

No trustees receive any remuneration, payments or benefits from the charity.

What, who, how, where

What the charity does:
  • General Charitable Purposes
  • Arts/culture/heritage/science
  • Economic/community Development/employment
Who the charity helps:
  • Children/young People
  • Elderly/old People
  • People With Disabilities
  • Other Charities Or Voluntary Bodies
  • The General Public/mankind
How the charity helps:
  • Other Charitable Activities
Where the charity operates:
  • Cornwall

Governance

Registration history:
  • 04 June 2013: CIO registration
  • 23 July 2013: Funds received from 1146140 LOOE MUSIC FESTIVAL
  • 06 December 2019: Funds transferred to
  • 06 December 2019: Removed (Removed by application)
Organisation type:
CIO
Other names:

No other names

Gift aid:
Recognised by HMRC for gift aid
Other regulators:
No information available
Policies:
  • Conflicting interests
  • Paying staff
  • Safeguarding vulnerable beneficiaries
  • Volunteer management
Land and property:
This charity owns and/or leases land or property

Financial history

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Financial period end date

Income / Expenditure 30/11/2014 30/11/2015 30/11/2016
Total gross income £617.31k £588.02k £597.09k
Total expenditure £703.68k £703.68k £684.78k
Income from government contracts N/A £0 £0
Income from government grants N/A £0 £47.26k
Income - Donations and legacies £0 £0 £1.56k
Income - Other trading activities £534.94k £588.02k £0
Income - Charitable activities £82.37k £0 £595.54k
Income - Endowments £0 £0 £0
Income - Investment £0 £0 £0
Income - Other £0 £0 £0
Income - Legacies £0 £0 £0
Expenditure - Charitable activities £0 £0 £684.78k
Expenditure - Raising funds N/A N/A £0
Expenditure - Governance £4.99k £4.99k £0
Expenditure - Grants institution £0 £0 £0
Expenditure - Investment management £0 £0 £0
Expenditure - Other £0 £0 £0

Assets and liabilities

Definitions for assets and liabilities
Own use assets

These are assets, other than investments, which are held for more than 12 months and used to run and administer the charity such as buildings, offices, exhibits and fixtures and fittings.

Long term Investments

Investments are assets held by the charity with the sole aim of generating income which will be used for their charitable purposes such as deposit accounts, shares, rental property and unit trusts.
Investment assets are re-valued every year and included in the balance sheet at their current market value.
Long term investments are held for more than 12 months.

Other assets

These are assets held generally for less than 12 months such as cash and bank balances, debtors, investments to be sold within the coming year and trading stock.

Defined benefit pension scheme asset or liability

This is a surplus or deficit in any defined benefit pension scheme operated and represents a potential long-term asset or liability.

Total liabilities

These are all the amounts owed by the charity at the balance sheet date to third parties such as bills due but not yet paid, bank overdrafts and loans and mortgages.

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Asset / Liability 30/11/2014 30/11/2015 30/11/2016
Own use assets £0 £0 £0
Long-term investments £0 £0 £0
Other assets £39.77k £39.77k £12.13k
Defined benefit pension scheme asset or liability £0 £0 £0
Total liabilities £96.85k £96.85k £275.62k

Accounts and annual returns

This table shows the charity's record of submitting annual returns, accounts and trustees' annual report (TAR) for the last five financial periods.
Title Reporting year Date received Received Download
Annual return 30 November 2019 Not submitted
Accounts and TAR 30 November 2019 Not submitted
Annual return 30 November 2018 Not submitted
Accounts and TAR 30 November 2018 Not submitted
Annual return 30 November 2017 Not submitted
Accounts and TAR 30 November 2017 Not submitted
Annual return 30 November 2016 12 January 2018 104 days late
Accounts and TAR 30 November 2016

(These accounts
have been qualified)

11 January 2018 103 days late

Governing document

Details of the type of governing document the charity has and when it was established.
It is not the full text of the charity's governing document.

CIO - Foundation Registered 04 Jun 2013

Charitable objects

TO PROMOTE,IMPROVE AND ADVANCE THE ARTS IN THE TOWN OF LOOE,CORNWALL AND IN PARTICULAR THE ART OF MUSIC BY THE ORGANISATION AND PRODUCTION OF COMMUNITY MUSIC FESTIVALS