Encounters Festivals Limited (A Company limited by guarantee) Report and Accounts 31 March 2024 Company regislralion number.. 03229078 Charity registration number." 1058603
Encounters Festivals Limited REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The trustees are pleased to present their report together with the accounts of the charity for the year ended 31 March 2024, which are also preparcd to meet the requirements for a directors, report and accounts for Companies Act purposes. The accounts comply with the Charities Act 201 I, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Chartties: Statement of Recommended Practice applicable to charities preparing their accounts in accordance wlth the Financial Reporting Standard applicable in the UK and Republic of Jreland (FRS102) (effective l January 2019). Reference and Administrative Details Charity Number: Company Number: Registered oifice: Principal OffIce: 1058603 03229078 61 Queen Square, Bristol, BS14JZ 61 Queen Square, Bristol, BSI 4JZ Bankers National Westminster Bank plc 45-49 Broadm¢ad Bristol BSI 3EU Directors and Trustees Th¢ directors of the charitable company ("the charity") are its trustees for the purpos¢ of charity law and throughout thls report are collectively refeffed to as the trustc¢s. The trustees serving during the year and since the year-end were as follows: Chair: Simon Peny (Industry Consultant) - Resigned 31 Dcccmber 2023 Euella Jackson (Freelance Cr¢ative Producer) - Appointed Chair 31 Dccember 2023 August 2024 Steven Coombe (Burnside, Chartered Accountants)- Appointed Chair 31 August 2024 resigned 31 Frcya Billington {boomsatsuma)- Resigned 29 October 2023 Natalie Collier (Aardman Animations) Emma Grazette (Freelance Film and TV Producer) - Appointed 8 June 2023 - Resigned 18 December 2023 Mark Hewis (Aardman Animations, Animatlon Producer) - Appointed 8 June 2023 Jessica Loveland (BBC Writers Room) Will Massa (Independent Consultant) - Resigned 31 December 2023 Natalie Moore (Bristol City Council, Local Government Manager)- Appointed 8 June 2023 Liz Warren (Live Cinema)- Resigned 14 November 2023 Mana em¢nt Personnel: Festival Director Rich Warren- Resigned l November 2023 Bizzy Day- Appointed l May 2023 - Resigned 25 January 2024 Dave Taylor-matthews - Appointed Executive Festival Director l December 2024 Inde endent Examiner Philip Bary FCA Hollands Accountancy Limited
Encounters Festivals Limited Accountants Burnside, Chartered Accountants Structure, Governance and Management Governin Document Encounters Festivals Liinited is a company limited by guarantee governed by its Memorandum and Arti¢l¢s of Association incorporated on the 24 July 1996. It is registered as a charity with the Charity Commission ( I I October 1996). There a currently 5 members (9 in 2023), each of whom agrees to contribute £ EO in the event of the charity winding up. ointment of Trustees Suggestions for new trustees are discussed at the Board Meetings and if agreed, invitations are issued. Trustee Induction and Trainin New trustees are introduced to the charity staff and fellow tnjstees at a board meeting and are provided with background infonnation (including minutes of previous meetings, budgets and other documents such as the Memorandum and Articles of Association). anisation The board of ttustees advninisters the charity. The board meets several times a year who together with the Festival Director and the staff, meet to discuss programtning and sponsorship suggestions for the festival. To facilitate effective operations, the Festival Director has delegated authority, within terms of delegation approved by the trustees, for operational matters including finance, employni¢nt and artistic perforniance relat¢d activity. Related Parties Non¢ of our trustees receives rcmuneration or other benefil from their work with the charity. Details of transactions with related parties are disclos¢d in note 16 to the accounts on page 17. Risk Mana ement Management accounts are presented and scrutinised at each board meeting (5 - 1 O per annum) with financial implications highlÈght¢d and discussed. Potential problem areas that become apparent are carefully monitorcd. The trustccs have assessed the major risks to which the charity is Cxposed, in particular, those related to the opcrations and finan¢cs of the charity and are satisfied that systems are in place to mitigate exposure to major risks. Objectives and Activities for the Public Benefit Brief Encounters - Bristol's annual celebration of the short film genTe was first held in October 1995 - and managed entirely by the Watershed. Following the success of this first festival, it was decided to establish this charity with the object of arranging and managing all future short film festivals and since then an annual short film festival has been held at the Watershed and other venues nearby. Accordingly, the charity was incorporated as a company limited by guarantee on 24 July 1996. In 2000, the fIrst Animated Encounters InternationaE Animation Festival was organised and run by Encounters F¢stivals. The Encounters Board took the decision to combine the two festivals for the 2006 edition. There was a change of name and the festival bccame known as 'Encounters Short Film and Animation Festival,. The obj¢cts of the charity are to promote, maintain, improve and advance education by the encouragement of the Arts with particular reference to the making, distribution and exhibition of films and other recorded permanent or semi-pernianent media whereby sound, vision, or both may be communicated or preserved. Given that the charity promotes the advancement of the arts and is open to the majority of the public, the Trustees are satisfied that the charity meets the requiremcnts of being for the public benefit.
Encounters Festivals Limited Achievements and Performance The 2023 Encounters Festival was delivered as a physical evcnt. The festival took place in Bristol from 26 September to l October 2023, off¢rAng a culturally and g¢ographicaEly diverse programme of short films and animations from Europe and around the World as part of the 29th Encounters Festival. The festival hosts one of the World's leadtng intemational competitions for visual storytelling and acts as an official gateway to the world's most prestigious awards; the Academy Awards@, BAFTAS, BIFA'S and the European Film Awards. Connecting industry and audiences, the festival celebrates the creativity, diversity, and the impact of short film. Encounters is a springboard for audienccs to discover new and emerging talent and for artists to progress, exchange knowledge, inforni and learn within th¢ evolving global industry. As part of the festival, Encounters screened l 00 films across 28 programmes and hosted l 7 events to a combined audience of 4,798. This activity sat alongside our intcnsive programme of master¢lasses, panels and workshops for participating filmmakers and industy delegates which focused on car¢er pathways and the us¢ of digital technologies to increase audience participatÈon and engagement. The programme this year fcatured 13 industry evcnts presented to 555 beneficiaries. The festival also ran Reflective Encounters, a film literacy initiative in which new and emerging film critics write short thought pieces for each of the film screening in compctition. The Charity receivcs funding, in-kind and cash sponsorship from several different sources who include the British Film Institute, Bristol City Council, West of F.ngland Combined Authority, Aardman Animations, th¢ University of thc West of England and the University of Bristol. Financial Review The overall incom¢ was £202,152 compared to £363,348 in the previous y¢ar. This resulted in a loss for th¢ year of £28,742 compared to a loss last year of £34,659. The trustees would like to thank all donors and staff for their continued support and efforts. The loss for the yr was budgeted for as part of a 3-year plan post COVID-19 to return the charity to profitability by 2023124. Volunteers The charity is grateful for the efforts of the volunteers who assist in the ofYic¢ and help with the running of the festivals. It is estimated that the charity benefited from approximately 738 (2023: 582) volunte¢r hours during the year. If this is valued at the UK living wage £10.42 per hour, the volunteer efforts amount to £7,689 (2023: £5,529 at £9.50 per hour). In accordance with FRS102 and the Charities SORP {FRS102), the economic contribution of general volunteers is not recognised in the accounts. Reserves Policy The trustees have reviewed the reserves of the charity. A policy was previously set which reflected the wish to safely commit as much as possible to the promotion of Bristol as a centre of International Media excellence whilst retaining financial stability and the potential to respond to new opportunities. The trustees agreed that holding unrestricted reserves equivalent to approximately 12 months unrestricted expenditure would meet this policy. Unrestricted reserves at 31 March 2024 were £48,402 (2023: £74,529) representing only 8 (2023: 9) months of unrestrA¢ted expenditure.
Encounters Festivals LimÉted The 3-year plan referred to above was approved by the trustees and put in place during the 2021122 year to utilise certain brought forward reserves to assist the charity as it moved fonvard from the COVID-19 pandemic. Unfortunately, the 2023 festival did not return to profitability and witli the loss of all previously available funding the trustecs had no choice but to sadly cancel tlie 2024 festival whilst it looked at alternative funding models and opportunities for the future. Plans for Future Development We were pleased to announce on I l December 2024 that the festival will retum for 2025, having appointed Dave Taylor-matthews as executive festival director. The festival will take place from 24-28 September 2025 for its delayed 30th edition. Submissions for the 2025 edition opened on 12 December 2024 and the festival will include screenings, workshops, talks and Q&A sessions, with a full programme to be unvcil¢d in 2025. Trustees, Responsibilities in Relation to the Accounts Thc trustees (who are also the directors of the charity for the purposes of company law) are responsible for preparing th¢ Report of the Trustecs and the accounts in accordance with applicable law and regulations. Company law requires the trustees to prepare accounts for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United KTngdom Accounting Standards and applicable law). Under company Eaw, the trustees must not approvc the financial statements unless they arc satisfied that they give a true and fair view of the state of affairs of the charitable Company and of its incoming resources and application of resources, including the income and expenditu of the charitable company, for that period. In preparing thcse accounts, th¢ trustees are required to: select suitable accounting policies and then apply them consistently. observ¢ th¢ methods and principles in the Charities SORP; make judgcments and estiInat¢s that are reasonable and prudent. state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the accounts. and prepare the accounts on the going concern basis unless it is inappropriate to prcsume that the charity will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and cxplain th¢ charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enabl¢ them to ensure that the accounts comply with the Companics Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for th¢ prevention and detection of fraud and other irregularities. Th¢ trustees are responsible for the maintenance and integrity of the corporate and financial infomiation included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. On behalf of the board: Steven Coombe Trustee Date: 20 D¢cember 2024 The report of the trustees has been prepared in accordance with the small company regime (Section 419(3) of the Companies Act 2006).
Encounters Festivals Limited INDEPENDENT EX4MINER'S REPOR T TO THE TRUSTEES OF ENCOUJVTERS FESTIVALS LIMITED I report on the accounts of Encounters Festivals Limited ('*he Charity") for the year ended 31 March 2024, which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes. Respective responsibilities of trustees and examiner As the cliarity's trustees (and the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts. You consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the 201 E Act) and that an independent examination is needed. You aKso consider that an audit is not required for this year under the Companies Act 2006, Part 16. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to examine the accounts under section 145 of the 201 I ACL follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 201 l Act, and state whether particular matters have come to my attention. Basis of independent examiner's report My examination was Caled out in accordance with the general Directions given by the Charity Commission. An examination includes a review of thc accounting records kept by the Charity and a comparison of the accounts pres¢nted with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'truc and fair view, and the report is limited to those matters set out in the statement below. Independent examlner's statement The charity's gross income exceeded £250,000 and I am qualified to undertake the examlnation by being a qualified member and Fellow of the Institute of Chartered Accountants in England & Wales. I have completed my examination. l Confirm that no matters have come to my attention in connection with th¢ examination giving me cause to believe: accounting records were not kept in respect of thc Company as required by section 386 of the 2006 Act; or the accounts do not accord with those records. or the accounts 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 consider¢d as part of an independent examination. or the accounts 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 financial statcments in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). Your attention is drawn to the paragraph on going concern in Note 2 to the accounts on page I I regarding recent events. Name: Philip Bary 20 tkcember 2024 Relevant professional qualification or body: FCA Address: Hollands Accountancy Limited, l l & 13 St Thomas Square, Monmouth, United Kingdom. NP25 SES.
Encounters Festivals Limited STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) for the Year Ended 31 March 2024 Total Funds 2024 Total Funds 2023 Unrestricted Restricted Funds Funds Note INCOME FROM: Donated services and facilities 9,863 9,863 84,700 Investments 448 448 86 Charitable activities 89,865 101,976 191,841 278,562 TOTAL INCOME 90,313 111,839 202,152 363,348 EXPEIYDITURE ON: Raising funds (4,692) (8,713) (13,405) (10,638) Charitable activities (58,995) (158,494) (217,489) (387,369) TOTAL EXPENDITURE 63,687 167,207 230,894 398,007 Net (expenditure)/income beforc transfers 26,626 (55.368) (28,742) (34,659) Transfers Grosg transfers between funds 13,14 (52,753) 52,753 Nct movement in funds 26,127) 2,615 28,742 34,659 Reconciliation of funds Total funds brought forward Total funds catried fonvard 74,529 48,402 2,615 77,144 48,402 111,803 77,144 The statement of financial activities includes all gains and losses recognised in the year, together with retaiFted eamings of each fund at the beginning and end of the year. There was no other comprehensive incom¢ in either year. All income and expenditure derive from continuing activities. The notes on pages 11 to 17 form part of these accounts
Encounters Festivals LimÉted BALANCE SHEET at 31 March 2024 Registered Number.. 03229078 2024 2023 Note FIXED ASSETS Tangible assets 10 1,396 CIIRRENT ASSETS Debtors Cash at bank and in hand 785 63,699 41,604 105,303 59,805 CREDITORS.. amounts falling due within one year 12 (11,403) (29,555) NET CURRENT ASSETS 48,402 75,748 NET ASSETS 48,402 77,144 FUNDS Unrestricted Funds Restricted Funds l3 14 48,402 74,529 2,615 TOTAL CHARITY FUNDS 48,402 77,144 The company is exempt from th¢ requirements relating to preparing audited accounts in accordance with section 477 of the Companies Act 2006. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with Section 476 of thc Comp]IeS Act 2006; The directors acknowledg¢ their responsibility for complying with the requirements of this act with respect to accounting records and preparation of accounts. and These accounts have been prepared ill accordance with the special provisions of Part 15 of the Companies Act relating to small companies and Constitute the annual accounts required by the Companies Act 2006 and are for circulation to members. Approved by the trustees on 20 December 2024 and signed on their behalf by Steven Coombe Trustee The notes on pages 11 to 17 form part of these accounts
Encounters Festivals Limited STATEMENT OF CASH FLOWS for the Year Ended 31 March 2024 2024 2023 CASH (USED Th) OPERATING ACTIVITIES Net movement in funds Add back depreciation charge Decrease/(increase) in debtors (Decrease) in creditors (28,742) 1,396 62,914 (18,152) (34,659) 1,396 (12,657) (57,357) NET CASH GENERATED FROM/ (USED IN) OPERATING ACTIVITIES 17,416 103,277 CASH FLOWS FROM INVESTING ACTIVITIES Purchase of tangible fixed assets CASH USED IN INVESTING ACTIVITIES INCREASE IN CASH AND CASH EQUIVALENTS IN THE YEAR 17,416 (103,277) Cash and cash equivalents at the beginning of th¢ year 41,604 144,88E TOTAL CASH AND CASH EQUIVALEiYfs AT THE END OF THE YEAR 59,020 41,604 Tbe notes on pages I I to 17 form part of these accounts
Encounters Festivals Limited NOTES TO THE ACCOUNTS for the Year Ended 31 March 2024 COMPANY STATUS The company is limited by guarantee and does not have share capital. It is incorporated in England and Wales. The liability of each guarantor is limited to £1 O in the event of a winding up. The principal place of business and registered office are disclosed in the Report of the Trustees. ACCOUNTING POLICIES The principal accounting policies adopted, significant judgements and key sources of ¢stimation uncertainty in the preparation of the accounts are as follows: Basis ofpreparalion The accounts have been prepared in Sterling rounded to the nearest pound and in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities prcparing their accounts in accoiylance with the Financial Rcporting Standard applicable in the UK and Republic of Ir¢land (FRS102) (effective l January 2019) - (Charities SORP FRS102), the Financial Reporting Standard applicable in the UK and Republic of Ir¢land (FRS102), th¢ Companies Act 2006 and the Charitics Act 2011. The company meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially r¢cognised at historical cost or transaction value unless othenvis¢ statcd in the relevant accounting policy notes. Preparalion oflhe nccounls as a going concern The trustees received notification during the year of the withdrawal of funding from two main funders which posed material uncertainties about th¢ charity's ability to continue as a going concern and rcsulted in th¢ 2024 festival being cancelled. The trustees havc undertaken a review of the Lharity's future operations and funding opportunities and havc taken measures to significantly reduce ongoing costs. The trustees have a reasonable expectation that the charity will hav¢ sufficient funds to deEiv¢r a festival in 2025 and be able to pay its debts as and when they fall due in the 12 tnonths from signing these accounts. The trustees therefore continue to adopt the going concern basis of accounting in preparing the accounts. Tangiblefixed assets Individual assets costing £500 or more are capitalised at cost. Tangible fixed assets are depreciated on a straight-line basis over thcir estimated useful lives as follows- Equipment 25% Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Accrued income is valued at the amount expected to be received, net of any trade discount offered. Cash at bank and in hand Cash at bank and cash in hand includes cash and deposits held on call at banks. Creditors andprovisions Creditors and provisions are recognised wher¢ the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are nornially recognised at their scttlem¢nt amount after allowing for any trade discounts due. Financial inslruments The charity only has financial assets and fInancial liabilities of a kind that qualify as basic financial instnjments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. The charity has no financial instruments measured at amortised cost. 10
Encounters Festivals Limited NOTES TO THE ACCOUNTS for the Year Ended 3 E March 2024 ACCOUNTING POLICIES (eontinued) Income Income derived from charitable activities is stated after trade discounts, other sales taxes and net of VAT. Dondtions andgrants Income froin donations and grants, including capital grants, is included in incoming resources when these are receivable, except as follows: When donors specify that donations and grants given to the charity must be used in future accounting periods, the income is deferred until those periods. When donors impose Conditions, which have to be fulfilled before the charity becomes entitled to use such income, the incom¢ is deferred and not included in incoming resources until the pre-conditions for use have been met. When donors srKcify that donations and grants, including capital grants, are for particular Testricted purposes, which do not amount to pre-conditions regarding ¢ntitlement, this income is included in incoming resourccs ot"r¢stricted funds when receivable. Box office income,film submissions income and adverlising andpromotion income These forms of incom¢ are recognised on an accruals basis and are recognised in the y¢ar in which th¢ Festival, to which the income rclates, takes place. Doftoledservices andfacilities Donated services and facilities arc included in income at a valuation, which is an Cstimate of the financial cost borne by the donor where such a cost is quantiftable and mcasurable. No income is recognis¢d when there is no financial cost borne by a third party. Inleresl receivable Interest is included when receivable by the charity. Resources 4¥pended Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT, which cannot be recovered. Certain expenditure is directly attributable to specific activities and has been included in those cost categories. Certain other costs, which are attributable to more than one activity, are apportioned across ost categories on the basis of an estimate of the proportion of time spent by staff on thos¢ activities. Charitable activities include expenditure associated with the staging of the film festivals and include both the direct costs and support costs relating to these activities. Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirement. Pension costs and olherposl-relirement benefils The charity makes contributÉons to defined contribution p¢nsion schemes and these are charged to charitable activities as they become payable in accordance with the rules of the scheme. Differences between contributions payable in the year and those actually paid are shown as either accruals or prepayments in the balance slie¢t.
Encounters Festivals Limited NOTES TO THE ACcoTs for the Year Ended 31 March 2024 ACCOUNTING POLICIES (continued) Foreign Currencies Assets and liabilities in foreign currencies are translated into stcrling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the net income of the charity. FundAccounting Funds held by the charity are: Unrestricled general fvnds - these are funds, which can be used in accordance with the charitable objects at the discretion of the trustees. Restricledfunds - these are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specifid by the donor or when funds are raised for particular restricted purposes. CORPORATION TAX The Charity, which is a registered charity, is not liable to corporation tax on the net revenue from its primary activity or investment income to the extent that these are applied to its charitable objects. INCOME FROM DONATED SERVICES AND FACILITIES Gifts in kind are analysed into the followlng items: 2024 2023 Festival programme Marketing 9,863 43,500 41,200 84,700 9,863 INCOME FROM CHARITABL£ ACTIVITIES 2024 Unrestricted 2023 Restricted Unrestricted Restricted Sponsorship Grants and donations receivable Festival box office income Film submissions Advertising, promotion and other 14,900 87,076 16,100 160,671 13,393 72,905 24,508 68,958 3,567 89,865 8,325 101,791 101,976 176,771 12
Encounters Festivals Limited NOTES TO THE ACCOUNTS for the Year Ended 31 March 2024 EXPENDITURE ON K41SING FUNDS Expenditure on raising funds consists of a percentage of the Festival Director's salary, to reflect the time spent raising funds, together with the cost of external fundraisers. 2024 2023 Expenditure on raising funds 13,405 10,638 EXPENDITURE ON CHARITABLE ACTIvrrIES Festival expenditure does not involve any grant making activities. 2024 2023 Unrestricted Restricted Unrestricted Restricted Staff costs Artistic programme Marketing Stationery and subscriptions Administration services Governance costs (see llote 8) Sundry Bad or doubtful debts 33,805 62,781 85,022 5,342 51,517 95,673 145,143 48,717 1,392 20,836 1,320 32,992 2,838 124 5,200 3,140 35 5,000 149 158,494 3,832 298,365 58,995 89.004 Administrative services are shown net of foreign currency loss of £82 for the year (2023 - gain £727) and includes rent of £12,932 (2023 £9,276). GOVERNANCE COSTS 2024 2023 Legal fees Bookkeeping fees Accountancy fees Independent examiner's fees 120 2,970 4,000 1,050 8,140 2,838 4,000 1,200 8,038 Net incoming resources for the year 2024 2023 This is stated after charging: Depreciation E,396 1,396 1,396 1,396 13
Encounters Festivals Limited NOTES TO THE ACCOUNTS for the Year Ended 31 March 2024 STAFF COSTS, TRUSTEES, REMUNERATION AND EXPENSES ArD THE COST OF KEY MANAGEMENT PERSONEL 2024 2023 Wages and salaries Employers pension contributions Social security costs 104,683 1,839 3,469 109,991 148,138 2,584 7,106 157,828 No employee earned more than £60,000 per annum. The charity trustees were not paid and did not receive any other benefits from employment with the charity in the ycar (2023 £nil). The trustees are only reimbursed for expenses relating to the attendance of mcetings in Bristol which amounted to £1, I l O for the year (2023 - £1,527). Certain staff are supplied by employment agencies at prevailing market rates. The key management personnel of the charity comprise the trustees and the Festival Director. The total eTnployment benefits of the key management personnel for the year were £51,556 (2023 £40,911). The average monthly h¢adcount was 4 staff (2023 - 5 stalD and the average numbcr of full-tim¢ equivalent employees (including casual and part-time staffj during the year was made up as follows: 2024 2023 Management and administration 10 TANGIBLE ASSETS Equipment Cost At l April 2023 Additions At 31 March 2024 14,099 14,099 Depreciation At l April 2023 Charge for the year At 31 March 2024 12,703 14,099 Net Book Value 31 March 2024 31 March 2023 14
Encounters Festivals Limited NOTES TO THE ACCOUNTS for the Year Ended 31 March 2024 11 DEBTORS 2024 2023 Trade and other debtors Prepayments and accrued income VAT 785 62,440 1,259 63,699 785 12 CREDITORS: amounts falling due within one year 2024 2023 Trade creditors Accruals and deferred income Other taxes and Social Security VAT Pension liability 217 9,861 858 299 168 IE,403 3,188 25,055 955 357 29,555 At 31 March 2024 the charity had a rental commitment of £nil falling due within one year (2023 - £1,500). 13 UNRESTRICTED FUNDS OF THE CHARITY CURRENT YEAR Atl April 2023 Incoming Resources Outgoing Resourccs Transfer to restricted funds At31 March 2024 Unrestricted genernl fund 74,529 90,313 63,687 52,753 48,402 PREVIOUS YEAR Atl April 2022 Incoming Resources Outgoing Resources Transfer to restricted funds At31 March 2023 Unrestricted general fund 65,379 101,877 92,727 74,529 14 RESTRICTED FUNDS OF THE CHARITY CURRENT YEAR Atl April 2023 Incoming Resources Outgoing Resources Transfer from unrestricted funds At31 March 2024 Festival fund 2,615 111,839 167,207 52,753 15
Encounters FestÉvals Limited NOTES TO THE ACCOUNTS for the Year Endcd 31 March 2023 14 RESTIUCTED FUNDS OF THE CHARITY (continued) PREVIOUS YEAR Atl April 2022 Incoining Resources Outgoing Resources Transfer from unrestricted funds At31 March 2023 Festival fund 46,424 261,471 305,280 2,615 15 ANALYSIS OF NET ASSETS BETWEEN FUNDS CURRENT YEAR Unrestricted fund Restricted fund Total Tangible fixed assets Cash Other net current assets/ (liabilities) Net assets 59,020 10,618 48,402 59,020 10,618 48,402 PREVIOUS YEAR Unrestricted fund Restricted fund Total Tangible fixed assets Cash Other net cUent assets/ (liabilities) Net assets 1,396 38,989 34,144 74,529 1,396 41,604 34,E44 77,144 2,615 2,615 16 RELATED PARTY TRANSACTIONS The charity entered into the following transactions during the year, which require disclosur¢ under FRSIO2: Organisation Trustee's name Transaction Income/(expenses) during the year type 2024 2023 Aardman Animations N Collicr and Mark Hewis Sponsorship 6,000 6,000 16