REGISTERED COMPANY NUMBER: 03468735 (England and Wales)
REGISTERED CHARITY NUMBER: 1066819
Trustees, Report and
Unaudited Financial Statements for the Year Ended 31 March 2024
for
King's Lynn Festival Limited
Stephenson Smart (East Anglial Limited
Chartered Accountants
22-26 King Street
King's Lynn
Norfolk
PE30 IHJ

King's Lynn Festival Limited
Contents of the Financial Statements
for the Year Ended 31 March 2024
Page
Trustees, Report
Independent Examiner's Report
Statement of Financial Artivities
Balance Sheet
Cash Flow Statement
Notes to the Cash Flow Statement
io
Notes to the Financial Statements
11 to 19
Detailed Statement of Financial Activities
20 to 21

King's Lynn Festival Limited
Trustees, Report
for the Year Ended 31 March 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2¢X)6, present their report with the
financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of 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 IFRS 1021 (effective l January 20191.

King's Lynn Festival Limited
Trustees, Report
for the Year Ended 31 March 2024
Objectives and artivities
The principal objects of the company are:_
To promote, maintain, improve and advance public education, appreciation and understanding in its
broadest sense through the arts. particularly by the formulation, preparation. establishment and
production of educational plays, festivals and productions. in particular the King's Lynn Festival of
Music and the Arts.
We have referred to the guidance contained in the Charity Commission's general guidance on public
benefit when reviewing our aims and objectives and in planning our future activities.
Achievements and performance
The 2022 season heralded the return to live performances following the hiatus due to the coronavirus restrictions. It would appear
that the results for the main festival during July were probably affected by a reticence amongst some to rejoin audiences at public
events. Box office takings were not as high as those prior to 2020. However. the final performance of the Festival by the RPO played
to a full audience, and four other events were above target numbers.
In the "Year-Round" period. Coffee Concerts and talks were reinstated and attracted gradually increasing numbers, especially in the
Spring 2023.
The organisation continues its collaboration with local schools and creative groups to help promote the arts.
Financial review
The results for the year, and the Charity's financial position at the end of the year are shown in the
attached financial statements.
Reserve5
The charity defines its reserves as the value of those assets over and above those which are required
for it to meet its current commitments and planned expenditure. Trustees aim to have sufficient
reserves to enable the charity to meet its financial objectives for one year.
Risk review
The trustees met regularly during the year, partly via Zoom. Major risks are always discussed at these meetings and the
Systems that are in place to mitigate those risks examined. The trustees consider the lack of a secure
income base, to be the Most significant risk and continue to take all po55ible Steps to ensure that this is
mitigated.
Investment policy
The Trustees Investment policy is to maximise returns on the cash balances held. having due regard to
risk.
Plans for future periods
In 2023 the July Festival has been programmed for a normal full range of events and venues. with coffee concerts and lectures. The
Burney Festival of early music was first held in April 2022, but will be moved to autumn 2023 to attract a wider audience and
sponsorship. The trustees are considering how best to broaden the Festival's appeal. with a wider range of performance.
partnerships to reach school audiences. and development events in the larger nearby villages. However, there is also 3 need to
develop a more stable funding platform and more business sponsorship.

King's Lynn Festival Limited
Trustees, Report
for the Year Ended 31 March 2024
The Borough Council has now issued notice to vacate the St George's Guildhall complex by 18th August. at which point the Festival
office will relocated to Thoresby College.
The triennial valuation of the PSATSA defined benefit pension fund has resulted in a substantial increase in its deficit. This has
resulted in the recovery plan extending from the original end date of July 2024 to February 2030. Conversely. the gyrations in the
financial markets since last September has resulted in the cost of buying out our one deferred pensioner is now possibly an
affordable option.
Structure, governance and management
Governing document
The organisation is a charitable company limited by guarantee. incorporated on 14 November 1997.
The company was established under a Memorandum of Association which established the objects and
powers of the charitable company and is governed under its Articles of Association
Recruitment and appointment of new trustees
The nomination and appointment of trustees is made by existing Trustees and Company Members.
Appropriate induction and training is given to trustees when appointed.
Reference and administrative details
Registered Company number
03468735 (England and Wales)
Registered Charity number
1066819
Registered office
11 New Conduit Street
King's Lynn
Norfolk
PE30 IDG
Trustees
Mrs S Cliffe
Mr D P Collingham
Mrs A J Croose
Mr A G Parker Ichair}
MrAJ Williams
MrT A Thomas
Mr R G W Anderson
Company Secretary
MrAJ Williams
Independent Examiner
Claire Melton
Stephenson Smart (East Anglial Limited
Chartered Accountants
22-26 King Street
King's Lynn
Norfolk
PE30 IHJ

King's Lynn Festival Limited
Trustees, Report
for the Year Ended 31 March 2024
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small
companies.
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
Mr A G Parker- Trustee

Independent Examiner's Report to the Trustees of
King's Lynn Festival Limited
Independent examiner's report to the trustees of King's Lynn Festival Limited I'the Company'l
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity's trustees of the Company land also its directors for the purposes of company lawl you are responsible for the
preparation of the accounts in accordance with the requirements of the Companies Act 20061'the 2006 Act'l.
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are
eligible for independent examination, I report in respect of My examination of your charity's accounts as carried out under Section
145 of the Charities Act 20111'the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity
Commission under Section 145151 Ibl of the 2011 Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a mernber of a listed body. I can confirm that l am
qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales,
which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving
me cause to believe..
accounting records were not kept in respert of the Company as required by Settion 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 considered 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 lapplicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102}).
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 to enable a proper understanding of the accounts to be reached.
Claire Melton
Stephenson Smart (East Anglial Limited
Chartered Accountants
22-26 King Street
King's Lynn
Norfolk
PE30 IHJ
Date-.............................................

King's Lynn Festival Limited
Statement of Financial Activities
for the Year Ended 31 March 2024
31.3.24
Total
funds
31.3.23
Total
funds
Unrestrirted
funds
Restricted
fund
Notes
Income and endowments from
Donations and legacies
136.036
136.036
103.889
Charitable activities
Festival activities
128,342
128,342
119,343
Investment income
2.309
204
2.513
545
Total
266,687
204
266,891
223,777
Expenditure on
Charitable activities
Festival activities
233,534
233,534
231,864
NET INCOMEI{EXPENDITURE)
33.153
204
33,357
18,0871
Reconciliation of funds
Total funds brought forward
37.728
21.593
59,321
67,408
Total funds carried forward
70,881
21,797
92,678
59,321
The notes form part of these financial statements

King's Lynn Festival Limited
Balance Sheet
31 March 2024
31.3.24
Total
funds
31.3.23
Total
funds
Unrestrirted
funds
Restricted
fund
Notes
Fixed assets
Tangible assets
li
1.104
1.104
1,475
Current assets
Debtors
Cash at bank and in hand
12
6,100
174,895
6,100
196.692
8,542
156,973
21,797
180,995
21,797
202,792
165,515
Creditors
Amounts falling due within one year
13
137.8681
{37.8681
134.3191
Net current assets
143,127
21,797
164,924
131,196
Total assets less current liabilities
144.231
21.797
166.028
132,671
Provisions for liabilities
14
173,3501
{73,3501
173,3501
NET ASSETS
70.881
21.797
92,678
59,321
Funds
Unrestricted funds
Restricted funds
15
70,881
21,797
37,728
21,593
Total funds
92,678
59,321
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended
31 March 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in
accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
lal
ensuring that the charitable cornpany keeps accounting records that comply with Sections 386 and 387 of the Companie5
Act 2006 and
preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end
of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the charitable company.
Ibl
The notes form part of these financial statements

King's Lynn Festival Limited
Balance Sheet - continued
31 March 2024
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the
small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on
signed on its behalf bv:
. and were
Mr A G Parker- Trustee
MrAJ Williams-Trustee
The notes form part of these financial statements

King's Lynn Festival Limited
Cash Flow Statement
for the Year Ended 31 March 2024
31.3.24
31.3.23
Notes
Cash flows from operating activities
Cash generated from operations
Interest paid
37,208
121
126,8541
{31
Net cash provided by/lused inl operating activities
37.206
126,8571
Cash flows from investing activities
Interest received
2.513
545
Net cash provided by investing activities
2,513
545
Change in cash and cash equivalents in the
reporting period
Cash and cash equivalents at the beginning of
the reporting period
39.719
126,3121
156,973
183,285
Cash and cash equivalents at the end of the
reporting period
196,692
156,973
The notes form part of these financial statements

King's Lynn Festival Limited
Notes to the Cash Flow Statement
for the Year Ended 31 March 2024
Reconciliation of net income/(expenditurel to net cash flow from operating activities
31.3.24
31.3.23
Net income/{expenditurel for the reporting period las per the Statement of
Financial Activities)
Adjustments for:
Depreciation charges
Interest received
Interest paid
Increase in pension provision
Decrease/lincreasel in debtors
Increase/ldecrease} in creditors
33.357
18,0871
371
{2,5131
494
{5451
5,000
17,2321
116,4871
2,442
3,549
Net cash provided byl{used in) operations
37,208
126,8541
Analysis of changes in net funds
At 1.4.23
Cash flow
At 31.3.24
Net cash
Cash at bank and in hand
156,973
39,719
196,692
156,973
39,719
196,692
Total
156,973
39,719
196,692
The notes form part of these financial statements
10

King's Lynn Festival Limited
Notes to the Financial Statements
for the Year Ended 31 March 2024
Accounting policies
Basis of preparin8 the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in
accordance with the Charities SORP IFRS 1021 '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 IFRS 1021 leffective l January 2019),, Financial Reporting Standard 102 'The Financial Reporting
Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been
prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds. it is probable
that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that
expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the
obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under
headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings
they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes Wlthin the object5 of the charity. Restriction5 arise
when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other p05t-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable
company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
11

King's Lynn Festival Limited
Notes to the Financial Statements- continued
for the Year Ended 31 March 2024
Donations and legacies
31.3.24
Total
funds
31.3.23
Total
funds
Unrestricted
funds
Restricted
funds
Sponsorship
Donations
Gift aid
Grants
23.683
68,588
7,610
36,155
23,683
68,588
7,610
36,155
24,200
24,814
8,155
46,720
136.036
136,036
103,889
Grants received during the year are as follows..
Year
ended
31.3.23
Year
ended
31.3.22
Norfolk County Council
KL & WNBC
Art5 Council of England - East
Creative Arts East
Other grants
4,765
28.557
7,648
4,765
27,801
67,348
254
5,750
46.720
106,168
Investment income
31.3.24
Total
funds
31.3.23
Total
funds
Unrestricted
funds
Restricted
funds
Deposit account interest
2,309
204
2,513
545
12

King's Lynn Festival Limited
Notes to the Financial Statements- continued
for the Year Ended 31 March 2024
Income from charitable artivities
31.3.24
31.3.23
Activity
Box office and other
performance related income
Box office and other
performance related income-
Winter series
Box office and other
performance related income-
Mini festivals
Festival activities
106.171
103,720
Festival activities
18,178
10,613
Festival activities
3,993
5,010
128,342
119,343
Charitable activities costs
Support
costs (see
note 6)
Dirert
Costs
Totals
Festival activities
231,837
1,697
233,534
Support costs
Governance
costs
Festival activities
1,697
Net income/(expenditure)
Net income/lexpenditurel is stated after chargingl{creditingl=
31.3.24
31.3.23
Depreciation - owned assets
371
494
13

King's Lynn Festival Limited
Notes to the Financial Statements- continued
for the Year Ended 31 March 2024
Trustees, remuneration and benefits
There were no trustees, remuneration or other benefits for the year ended 31 March 2024 nor for the year ended
31 March 2023.
Trustees, expenses
There were no trustees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
Staff costs
31.3.24
31.3.23
Wages and salaries
Other pension costs
54,689
13,637
51,315
13,928
68,326
65,243
The average monthly number of employees during the year was as foll0v￿.
31.3.24
31.3.23
Administration
No employees received emoluments in excess of £60.0(M).
io.
Comparatives for the statement of financial activities
Unrestricted
funds
Restricted
fund
Total
funds
Income and endowments from
Donations and legacies
103,889
103,889
Charitable activities
Festival activities
119,343
119,343
Investment incorne
488
57
545
Total
223,720
57
223,777
Expenditure on
Charitable activities
Festival activities
231,864
231,864
NET INCOMEIIEXPENDITURE)
{8,144)
57
18,0871
Reconciliation of funds
Total funds brought forward
45,872
21,536
67,408
14

King's Lynn Festival Limited
Notes to the Financial Statements- continued
for the Year Ended 31 March 2024
io.
Comparatives for the statement of financial activities- continued
Unrestricted
funds
Restricted
fund
Total
funds
Total funds carried fonward
37,728
21.593
59,321
ii.
Tangible fixed assets
Fixtures
and
fittings
Cost
At l April 2023 and 31 March 2024
5,365
Depreciation
At l April 2023
Charge for year
3,890
371
At 31 March 2024
4,261
Net book value
At 31 March 2024
1,104
At 31 March 2023
1,475
12.
Debtors: amounts falling due within one year
31.3.24
31.3.23
Trade debtors
Prepayments
5,820
280
7,485
1,057
6,100
8,542
15

King's Lynn Festival Limited
Notes to the Financial Statements- continued
for the Year Ended 31 March 2024
13.
Creditors: amounts falling due within one year
31.3.24
31.3.23
Trade creditors
Social security and other taxes
Pension
Deferred income
Accrued expenses
iii
545
7,906
22,618
6,800
3,589
2,035
7,881
15,814
5,000
37,868
34,319
14.
Provisions for liabilitie5
The company is currently a member of NEST occupational pension scheme.Individual entitlement if any to employer
contributions to an approved personal pension plan is specified in the relevant contract of employment.
Total contributions paid in the year amounted to £1,52512023: £1.492).
Provision for future liabilities:
Within 12 months £7,90612023 £7,881)
After 12 Months £73,35012023 £73,350}
Contingencies- Pension
The Kings Lynn Festival Limited is a member of the Pension Scheme for Administration and Technical Staff in the Arts. The
scheme wa5 closed to future accrual in December 2012.
Results of an actuarial valuation as at 31st March 2022 showed that the Scheme remains in significant deficit. The
proportion of the deficit attributable to The Kings Lynn Festival Limited following the previous actuarial valuation as at 31st
March 2016 was estimated at £76,000. As a result of a valuation in March 2022. an additional £5,000 was provided as a
liability. The increased liability of £81,000 ha5 been fully provided for in the balance sheet.
Under the recovery programme agreed with the Trustees of the 5cheme.the Trustees of Kings Lynn Festival Limited will
continue to make payments towards the deficit of £626 per month which increases by 5Yo per annum until February 2030
under a new agreement.
Due to the number of employers contributing to the Scheme. it is not possible at 31 March 2024 lor March 20231 to
identify the share of underlying assets and liabilities of the Scheme that are separately attributable to the Charity. Under
the provisions of Financial Reporting Standard 17. the accounts have therefore been prepared on the basis that the Scheme
qualifies as a Multi-Employer Scheme and pension costs are disclosed in line with the requirements for a defined
contribution Scheme.
16

King's Lynn Festival Limited
Notes to the Financial Statements- continued
for the Year Ended 31 March 2024
15.
Movement in funds
Net
movement
in funds
At 1.4.23
At 31.3.24
Unrestrirted funds
General fund
Music Society designated fund
37.728
12,2771
35,430
35,451
35,430
37.728
33.153
70,881
Restricted funds
Ruth Fermoy memorial fund
21,593
204
21,797
TOTAL FUNDS
59,321
33,357
92,678
Net movement in funds, included in the above are as follows:
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
General fund
Music Society designated fund
231,257
35,430
1233,5341
12,2771
35,430
266,687
1233,5341
33,153
Restricted funds
Ruth Fermoy memorial fund
204
204
TOTAL FUNDS
266,891
1233,5341
33,357
Comparatives for movement in fund5
Net
movement
in funds
At 1.4.22
At 31.3.23
Unrestricted funds
General fund
45,872
18.1441
37,728
Restricted funds
Ruth Fermoy memorial fund
21,536
57
21,593
TOTAL FUNDS
67,408
18,0871
59,321
17

King's Lynn Festival Limited
Notes to the Financial Statements- continued
for the Year Ended 31 March 2024
15.
Movement in funds- continued
Comparative net rnovement in funds, included in the above are as follows-
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
General fund
223,720
1231,8641
18,1441
Restricted funds
Ruth Fermoy memorial fund
57
57
TOTAL FUNDS
223,777
1231,8641
18,0871
A current year 12 months and prior year 12 months combined position is as follows:
Net
movement
in funds
At 1.4.22
At 31.3.24
Unrestrirted funds
General fund
Music Society designated fund
45,872
110,4211
35.430
35,451
35,430
45,872
25,009
70,881
Restricted funds
Ruth Fermoy memorial fund
21.536
261
21,797
TOTAL FUNDS
67,408
25,270
92,678
A current year 12 months and prior year 12 months combined net movernent in funds, included in the above are as follows-
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
General fund
Music Society designated fund
454,977
35,430
1465,3981
110,4211
35,430
490,407
1465,3981
25,009
Restricted funds
Ruth Fermoy memorial fund
261
261
TOTAL FUNDS
490,668
1465,3981
25,270
18

King's Lynn Festival Limited
Notes to the Financial Statements- continued
for the Year Ended 31 March 2024
16.
Related party disclosures
There were no related party transactions for the year ended 31 March 2024.
17.
Designated funds
During the reporting period, the charity received donations amounting to £35.430. The donors stipulated that the funds
were to be used for the promotion of classical music and the charity has reserved designated funds for this purpose.
The funds are held in a general bank account to be released as agreed by the Trustees in future years.
19