Charity number.. 1010030
FRIENDS OF NEWBURY SPRING FESTIVAL
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021

FRIENDS OF NEWBURY SPRING FESTIVAL
CONTENTS
Page
Reference and admlnistrative details of the charity, its Trustees and advisers
Trustees. report
Independent examine￿$ report
Statement of financlal activities
Balance sheet
Statement of cash flov
Notes to th¢ financial statemènts
8_14

FRIENDS OF NEWBURY SPRING FESTIVAL
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 30 JUNE 2021
Tru$tees
Caroline Holbrook, Chairman
Mrs M Edwards
Mrs B htarper
Mrs M Pease
Mr J Chadwick
Mrs S Denly-Ball (appointed 7 July 20201
Charity registered number
1010030
Principal office
33134 Cheap Street
Newbury
RG14 SD8
Accountants
James Cowper Kreslon
Chartered Accounlanls
2 CoiiiiriuiiiLatlOlls Floa(J
Greenham Business Park
Greenham
Newbuiy
RG198AB
Bankers
HSBC plc
e Northbrook Street
Newbury
Berkshire
RG14 IDJ
Barclays Bank plc
23-26 Parkway
Newbury
Berkshire
RG14 1AY
CCLA Investment M8nagement Ltd
Sl Alphage House
2 Fore Street
London
EC2Y 5AQ
Solicitors
Irwin Mitchell
Oxford House
12-20 Oxford Street
Newbury
Berkshire
RG14 1JB
Page 1

FRIENDS OF NEWBURY SPRING FESTIVAL
TRUSTEES, REPORT
FOR THE YEAR ENDED 30 JUNE 2021
The TruAtÈÈs present their annual report together wrth the financial statements of the charity the Charity for the
year to 30 June 2021. The Trustees confirm that the annual report and financial statements of the Charity comply
with the current stalulory requirements, the requirements of the Charity's governing document and the provisions
of the Slalement of Rpcommgndpd Practice ISORPI 'Accounting and Reporting by Charities, issued in January
2019.
ObjeGti¥es and aGtiviti•s
Objectives of the charity
The Charity was sel up for the purpose of promoting, improving and advancing public education in appreciation
of the arts, including the arts of drama, mime, dance, singing, music and visual arts and In particular, by
supporting the work of the Newbury Spring Festival. In selling the objectives of the Charity the Trustees have
reviewed and considered the Charty Commission's guidance on public benef(t.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance
published by the Charity Commission relating lo public benefit. including the guidance 'Public benefit.. runnin9 a
charity IPB21'.
Aehlevements and perfomiance
Review of Activities
During the year the Charity ￿ceiVed £26.165 of subscriptions and donations from members. There were
approximately 380 friends who supported and continue lo support the charity. A £30,000 Grant was made after
the year end to Newbury Spring Festival for the 4 20 September 2021 Festival, which due lo the COVID HM
Government regulations, was postponed from May 2021. A grant of £500 was made after the year end lo the
Friends Prvze for the annual Sheepdrove Piano Competrtion which was held al the end of September, being part
of the 4- 20 September 2021 Newbury Sprinq Festival. A grant of £250 was not made to Betkshire Maestros this
year. Open Studios dec5ined the grant for 2021 after not being active due to the COVID pandemic. Gift Aid was
also claimed for subscriptions and donations made during the year. The Charity wi11 continue lo support the
Newbury Spring Festival In some of the costs associated with hosting the events which wll assume 7 - 21 May
2022.
Financial revlew
The Charity's income for the year was £33,254 compared lo £39,738 last year. Investment income h88 remained
conslstent in comparison lo thè P￿vIouS year. There were no grants paid during the year, but grants paid after
the year encl were £30k lo Newbury Spring Festival for 4 - 20 September 2021 Ino grant was made for 20201,
and £oroo to Sheepdrove Piano Competition Friends Prize in S¢ptember 2021. The net SLJrplu8 before ehanges
in investment value was £31.552 compared to £36.860 last year. The change in investment asset value is a gain
of £6.555 12020. £1,258) which has resulted In a nel surplus for the year of £38,10712020.. £38,118). This has
increased the lolal unreslncted funds a130 JLJne 202110 £135,586.
Going concem
After making appropri*e enquiries. the Trustees have a reasonable expectation that the charity has adequate
resources to continuè in operational existence for the foreseeable future. For this reason they continue to adopt
the 901ng concern basis in preparing the fin8ncial statements.
R￿01Ve$ pollcy
The unoslricted fund at 30 June 2021 slocmj at £135,586 which will be used for future grant funding. The
Trustees consider the investment funds to be their reserve balance. The market value of these securrties al 30
June 2021 was £51,696.
Page 2

FRIENDS OF NEWBURY SPRINQ FESTIVAL
TRUSTEES. REPORT (CONTINUED
FOR THE YEAR ENDED 30 JUNE 2021
StruGtureJ governaiice aiid management
Constitution
Friends of Newbury Spring Festival is a registered charity, number 1010030. The Charity is controlled by ils
qoverning document, a deed of Irusl. and conslilutes an unincorporated Charrty.
Methods of appointment or election of Trustees
Additional or replacement Trustees can be appointed by the founder, failing th81 they can be appointed by the
remaining Tiuslees. New Trustees are introduced lo the workings of the Charity and their responsibilities as
TIustee5 are explained to them.
Organisational stru¢ture
Due to the nature and size of the Charity. the Trustees form the management team and are responsible for all
aspects of the day lo day running of the charity.
Rlsk managem¢nt
The Trustees have considered the major risks lo which the Charty is exposed and have established systems
and procedures lo manage those risks and to ensure appropriate controls are in place to provide reawnable
assurance against frau(J ana error.
Approved by order of the members of the board of Trustees and signed on their behalf by..
Mrs C Holbrook
(Chair of Trusleesl
Dale..
Page 3

FRIENDS OF NEWBURY SPRING FESTIVAL
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 30 JUNE 2021
Independent examiners report to Ihe Trustees of Frlends OT Newbury Sprlng Fesiival (Yhe
charity'l
I report lo the charity Trustees on my examination of the accounts of the charity for the year ended 30 June
2021.
Responsibilities and basls of report
As the Trustees of the ¢harity yo(J are responsible for the preparation of the aeeounts in accordance wrth thc
requirements of the Ch8rrties Act 2011 Ilhe 2011 ACYI.
I report In respect of my examination ol the charity's accounts earnea oui unaer sectlon 145 of the 2011 Act and
in carrying out my examination I have followed the applicable Directions given by the Charity Commission under
section 1451511bl of the 2011 Act.
Independent examinerf$ statement
l understand that this has been done in order for the aecounls to provide a true and fair view in aceordance with
the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come lo my attention in connection wlh the
examination giving me cause to believe that in any material respect..
accounting records were not kept in respect of the charity as required by geclion 130 of the 2011 Act., or
the accounts do not accord with those records.. or
the accounts do not comply with the applicable requirements conceming the fomi and conlenl of
accounts sel out in the Charities IAccounts and Reportsl Regulations 2008 other than any requirement
that the accounts give a Irue and fair view which Is not a rnatter conside￿d as part of an independent
examination.
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 lo enable a proper understanding of the accounts lo be ￿ached.
This report is made solely to the charills Trustees, as a body, in accordance with Part 4 of the Charities
(Accounts and Reports) Regulations 2008. My work has been undertaken so that I might slate to the charity's
Trustees those matters l am required lo slate to them in an Independent examiner's report and for no other
purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the
charity and the charity's Trustees as a body, for my work or for Ih5s report.
Signed..
Dated.. 2810412022
Mr M N Farwell
MA FCA DChA
James Cowper Kreslon
Chartered Accounlanls
2 Communications Road
Greenham Business Park
Greenham
Newbury. Berkshire
RG19 SAB
Page 4

FRIENDS OF NEWBURY SPRING FESTIVAL
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 30 JUNE 2021
Unrestricted
funds
2021
Total
funds
2021
Totsl
funds
2020
Note
Income from:
Donations and legacies
Investments
31,845
31.845
1,409
38,316
Total incomg
33,254
33,254
39.738
Expenditure on:
Charitable activities
1,702
1,702
2,878
Total expenditure
1,702
1,702
2,878
Net Income before net gains on Investments
Nel gains on investments
31,552
6,555
31,552
6,555
36,860
1,258
Net movemènt in funds
38,107
38,107
38,118
Reconoiliation of funds:
Tot31 funds brought fOTr￿ard
97,479
97,479
5g,361
Total funds carried forward
135,586
135,586
97.479
The notes on pages 8 10 14 form part of these financial Statements.
Page 5

FRIENDS OF NEWBURY SPRlhlG FESTIVAL
BALANCE SHEET
AS AT 30 JUNE 2021
2021
2020
Note
Fixed assets
Investments
Current assets
51,696
45.141
Debtors
Cash at bank and in hand
5.674
8,053
8,369
50,271
93.727
56.640
Creditors.. amounts falling due within one
year
{9,8371
14.3021
Net current assets
83,890
52.338
Total net assgts
135,586
97.479
Charity funds
Unrestrieted funds
10
135,586
97,479
Total funds
135,586
97,479
The financial statements were approved and authorised for issue by the Trustees and signed on their behaK by..
Mrs C Holbrook
Mrs M Edwards
Chair of Tru$tea¢
Dale..
The notes on pages 8 to 14 form part of these financial statements.
Page G

FRIENDS QF NEVVBURY SPRINfj FESTIVAL
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2021
2021
2020
Notè
Cash flows from op&rating actlvltig#
Nel cash used in operating activities
13
36,373
34,176
Cash flows from investlng aetivili&s
Dividends. interests and ren15 from investments
1,409
1,416
Net cash provided by invgsting activI￿e$
1.409
1,416
Change In cash and cash equivalents in the year
Cash and cash equivalents al the beginning of the year
37,782
50,271
35,592
14,679
Cash and cash equivalents at the end of the y9ar
14
88,053
50,271
The not$$ tsn pa9es 8 to 14 form part of th¢$e finaiicial slalEtTr¢n15
Page 7

FRIENDS OF NEWBURY SPRING FESTIVAL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
Accounting policies
1.1 Basis of preparation of financial statements
The financia5 stslements have been p￿pared in accordance wf(h the Charities SORP IFRS 1021
Accounting and Reporting by Charities. Statement of Recommended Practice applicable lo charities
preparing their accounts In accordance wilh the Financial Keporting btandard applicable in rhe UK
and Republic of Ireland IFRS 1021 (effective 1 January 20191, the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011.
Friends of Newbury Spring Festival meets the definition of a public benefit entity under FRS 102.
1.2 Fund accounting
General fund5 are unreslricled funds which are available for use al the discretion of the Trustees in
furtherance of the general objectives of the charty and which have not been designated for other
purposes.
Investment income, gains and losses are allocated lo Ihe appropriate fund.
1,3 Income
All income is recognised On￿ the charity has anlillement lo the income. it is probable that the income
will be received and the 8mounl of income receivable can be measured reliably.
Income lax recoverable in relation to don81ions received under Gift Aid is recognised at the lime of
the donation.
Income lax recoverable in relation lo investment income is recognised al the lime the investment
income is receivable.
1.4 Expendlture
Expenditure is recognised once there 15 a legal or conslruclive tsbligation lo transfer economic benefit
lo a third party. it is probable that a transfer of economic benefits will be required in sèttlement 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 Gosts and shared costs, Including Support GOSt6
involved in undertaking each activity. Direct costs attributable lo a single activity are allocalÈd directly
lo that activty.
Support costs are those costs incurred directly in support of expenditure on the objects of the charity.
Giants payable are charged in the year when the otter Is made except In those cases where the offer
is conditional, SUGh grants being recognised as expenditure when the conditions allaching are
fulfilled. Grants offered subject lo conditions which have not been mel at the year end are noted as a
commitment, bul not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
1.5 Going concern
The financial stslemenls have been p￿pared on the going concem basis.
Page 8

FRIENDS OF NEWBURY SPRING FESTIVAL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
A¢countlng policies (continued}
1.6 Investments
Fixed asset investments are a form of financial instrument and are ini11811y recognised al their
tranq2r.tirJn cost and SLibsèqLiently m&asurgd at fair value at tho Balanco shaot data, unless the value
cannot be measured reliably in which case rt Is measured al cost less impairment. Investment gains
and losses, whether realised or unrealised, are combined and presented as 'GainsllLossesl on
invp8tments' in the Statément of financial activities.
1.7 Intor•st rgceivablg
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the charty., thi$ is normally upon nolificalion of the interest paid or payable by the Bank.
1.8 Taxation
The charity IS 8Xgmpt from tax on its chgritablo activitias.
1.9 Debtors
Trade and other debtors are recognised al the sèlllemenl amount after any trade discount offered.
Prepayments are valued al the amount prepaid nel of any trade discounts due.
1.10 Cash at bank and in hand
Cash at bank and in hand ineludèg cash and Bhort-temi highly liquid investments with a short maturity
of three months or less from the date of acquisition or opening of the deposit or similar account.
1.11 Llabllltl•s and provlslons
Liabililies are recognised when there is an obligation al the Balance Sheet date as a resuYI of a past
event, it is probabla that a transfer of e¢ontsmic benefit will be requir¢d In Settlement, and the amount
of the selllemenl can be estimated reliably.
Liabilitie$ aro rgcogni88d at the amount that the ¢harity anticipots8 it will pay to settle the debt 01 the
amount il has received as advanced payments for the goods or services il must provide.
Income from donations and legacles
Unrestricted
funds
2021
Total
funds
2021
Total
funds
2020
Subscriptions and donations
Gift aid
28,16S
5,680
26.185
5,680
31,947
6,369
31,845
31,845
38.316
Total 2020
38,316
38.316
Page 9

FRIENDS OF NEW8URY SPRING FESTIVAL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
Investment Income
unr￿trIcted
funds
2021
Total
funds
2021
Total
funds
2020
COIF interest and dividends
Bank interest
1,409
1.409
1,416
1,409
1,409
1,422
Total 2020
1.422
1,422
Analysis of expenditure by activities
Grant
funding ol
activitigs
Total
tunds
2021
Totsl
funds
2020
2021
Grants paid
Suppuit fL)sts
250
2,628
1,702
1,702
1.702
1.702
2.878
Tot812020
2.878
2.878
The total grants paid to instltutlon$ during the year was..
2021
2020
Berkshire Maestros
250
250
Indepondent examiner's remuneration
The Independent examinerfs remuneration amounls to an independent examiner fee of £945 {2020
£9001.
Page 10

FRIENDS OF NEWBURY SPRING FESTIVAL
NOTES TO THE FINANCIAL STATEMENT5
FOR THE YEAR ENDED 30 JUNE 2021
Twst¢e8' remuneration and expenses
During the year, no Trustees received any remuneration or other benefils12020- £NILI.
During the ye81 ended 30 June 2021, no Trustee expenses have been incurred12020- £NILI.
Fixed as$et investments
Listed
investments
Cost or valuation
At 1 July 2020
Revaluations
45,141
6,555
AI 30 June 2021
51,696
Net book value
AI 30 June 2021
51,696
At 30 June 2020
45.141
Debtors
2021
2020
othor dèbt¢trs
5,674
6,369
Creditors: Amounts falling due within one year
2021
2020
Other credrto
9,837
4.302
Page 11

FRIENDS OF NEWBURY SPRING FESTIVAL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
10. Stat¢￿ent of funds
Statement of funds- current year
Balance at
30 June
2021
Balance at 1
July 2020
Galnsl
ILosses1
InGorne Exp*ndltur*
UnrestrietÈd funds
General Funds- all funds
97,479
33,254
11,7021
6,555
135.586
ststement of funds - prior year
Balance at
30 June
2020
Balance al
1 July 2019
Gainsl
ILossesl
Income Expendrture
Unrestricted funds
Gener81 Funds- all funds
59,361
41,738
14.8781
1,258
97.479
11.
Summary of funds
Summary of funds- currènt year
Balance at
30 June
2021
Balance at 1
July 2020
Gainsl
ILossesl
Income ExF)Anditure
General funds
97.479
33.254
11,7021
8,555
135,586
Summary of funds - prior yèar
Balance al
30 June
2020
Balance *
1 July 2019
Gainsl
(Losses)
Income Expenditure
Gener81 funds
59.361
41,738
14,8781
1,258
97.479
Page 12

FRIENDS OF NEWBURY SPRING FESTIVAL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
Analysis of net assets between funds
Analysis of net assets between funds - current year
Unrestri¢ted
funds
2021
Total
funds
2021
Fixed asset investments
Current assets
Credrtor8 due within one year
51,896
93,727
15,¥371
51,696
93,727
19,837}
Tntal
136,586
135,$86
Analysls of net assets between funds - prior year
Unrestricted
funds
2020
Total
funds
2020
Fixed asset investments
Currcnt aS3et3
Creditors due within one year
45,141
Jb,64g
14,3021
45,141
56,640
14,3021
Total
97.479
97.479
13. Rgconciliation of net movement in funds to net cash flow from operatlng activltles
2021
2020
Nel income for the year las per Statement of Finaneial Acliviliesl
38,107
38,118
Adjustments for..
Losses on investments
Dividends, interests and rents from investments
Decreasellincreasel in debtors
Increase in creditors
16.555}
11,4091
695
5,535
11.2581
11.4161
11,5381
268
Net cash provided by operating activities
36,373
34,176
Page 13

FRIENDS OF NEWBURY SPRING FESTIVAL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
14. Analysis of cash and cash equivalents
2021
2020
Cash in hand
88,053
50,271
Total cash and cash equivalents
88,053
50,271
15. Analysis of changes in net debt
At 1 July
2020 Cash flows
At 30 June
2021
Gash al bank and in han
50,271
37,782
88,053
16. Related party transactlons
Four of the Trustees of Friends of Newbury Spring Festival are also Trustees of Newbury Spring Festival
Society Limited. a charity with which the Friends of Newbury Spring Festival share administration
facilities al the same location. The lolal adminislralion costs incurred by Newbury Spring Festival Society
Limited in relation to the Friends are eslimaled al £6,00012020." £6.0001. The balance due lo Newbury
Spring Festival Society Limited al the end of the year is £8,93712020.. £3,602}.
17. Controlling party
The charity is controlled by the Trustees.
Page 14