A three-day live music festival set to take place over the Queen's Jubilee weekend has been cancelled.

Leighton Live, which was being organised by the people behind Lancaster's Highest Point festival was due to take place on the bank holiday weekend from Friday June 3 to Sunday June 5 in the historic grounds of Leighton Hall Estate in Carnforth, with headliners including UB40, Ministry of Sound Disco, The Halle and Sister Sledge.

However, a statement posted on the festival's Facebook page this evening cited 'spiralling costs' and the 'risk to Highest Point' as reasons for its cancellation.

The statement read: "It is with great sadness that we have made the decision to cancel this year’s Leighton Live three day music festival.

"We often see people produce all sorts of reasons why they cancel events, but we do not wish to stray from the truth – with two weeks to go, the whole project just isn’t going to work.

"Events are ridiculously expensive things to stage, with the ever increasing costs required to put each one on covered not only by the ticket sales but by the bars and on-site catering too.

"It has taken us the past four years to get Highest Point Festival to the point where it breaks even and has a secure future, and continuing with Leighton Live would heavily jeopardise that.

"We have spent the last week or so working through various forecasts and scenarios, but ultimately, we have to make the decision to cancel the event rather than incur any more expenses in delivering the show.

"We would like to say a big thank you to everyone who supported us along the way, in believing in the event and what it could have been, especially Lucy and all the team at Leighton Hall for giving us this opportunity.

"For those that have purchased tickets, refunds will be issued automatically in the next few days."