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← King's Lynn Festival Limited

2025-03-31-accounts

REGISTERED COMPANY NUMBER: 03468735 (England and Wales) REGISTERED CHARITY NUMBER: 1066819

Trustees' Report and

Unaudited Financial Statements for the Year Ended 31 March 2025

for

King's Lynn Festival Limited

Stephenson Smart (East Anglia) Limited Chartered Accountants 22-26 King Street King's Lynn Norfolk PE30 1HJ

King's Lynn Festival Limited

Contents of the Financial Statements for the Year Ended 31 March 2025

Page
Trustees' Report 1 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7 to 8
Cash Flow Statement 9
Notes to the Cash Flow Statement 10
Notes to the Financial Statements 11 to 20
Detailed Statement of Financial Activities 21 to 22

King's Lynn Festival Limited

Trustees' Report for the Year Ended 31 March 2025

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. 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 (FRS 102) (effective 1 January 2019).

1

King's Lynn Festival Limited

Trustees' Report for the Year Ended 31 March 2025

Objectives and activities

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 financial results for the year show an increase in the income from both the main Festival and the year-round concerts of 14% but the direct costs incurred to produce these events increased by 25%.

Income from memberships, sponsorships and general donations have been at a similar level as for the previous year, as have general overheads despite the changes of Festival Manager and marketing contracts.

Just prior to the end of the financial year, we successfully received two specific grants; from G. Watling Trust for £2,000 to help with the development of our 2025 IT and website investments and £39,176 from the Norfolk Community Fund for a three year project to develop the artistic opportunities for the youth in the area.

Overall, the net income for the year has increased by £31,034 compared to £33,357 last year. The PSATSA pension scheme's triennial valuation is currently being performed and the results are expected to be released early next year. It is felt that our contingency reserve should still be adequate to cover any changes to the scheme's deficit.

The main Festival fortnight expenditure occurs early in the financial year (now April to March) and 2024 marked a final recovery to the audience levels known before the Covid-19 pandemic period. The box office income was the highest for several years despite our ticket prices being maintained at modest levels; this is very important since about 50% of the income is due to ticket buying - an unusually high percentage compared with most festivals. However all the overheads costs were beginning to rise noticeably under the impact of inflation, whilst the cost of living crisis affected ticket buyers in the cultural sector.

The Festival was an artistic success with international pianists and recorder player, Foden's Band national champions, BBC Big Band remembering Gershwin, international soloists in the EU Chamber Orchestra, the Contemporary music evening a sell out with Sir James MacMillan present, Indian dance and a Bollywood Band, fun from the ever-appreciated Ukulele Orchestra of Great Britain, and completed by the Royal Philharmonic Orchestra. The annual exhibition formed Part 2 of the 2023-24 review of English art and told the story from 1945 to 1980, attracting a wide regional audience again. This was the last year in which the St George's Guildhall complex could be used for Festival events, as the refurbishment and redevelopment will take until at least 2028.

The year-round programme is solidly based on 7 monthly 'Coffee concerts', with RGS or other lectures, and increased connection into events with the best players in local schools. A project over 3 years funded by West Norfolk Lives has just started in 2025 to bring music to inter-generational audiences of children and the elderly.

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.

Reserves

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.

2

King's Lynn Festival Limited

Trustees' Report for the Year Ended 31 March 2025

Risk review

The trustees met regularly during the year, and major risks are always discussed and the systems in place to mitigate them are considered. The Risk Register for the business was reviewed in Spring 2025. The main financial risk arises from costs associated with running an all-year programme (including education which has no related income) and having a permanent office. The trustees consider the lack of a sufficient and secure medium term rolling income from trusts and public grants is the most significant risk, and continue to take all possible steps to secure the continuation of the Festival.

Investment policy

The Trustees Investment policy is to maximise returns on the cash balances held, having due regard to risk.

Plans for future periods

As the Guildhall scheme moved forward we have had to review and reassess our preferred venues for several main events. By the time this report up to 31 March 2025 is published, the July Festival 2025 will have taken place. Influenced by a new co-artistic director, Anna Pool, the programme has been very varied and largely successful in terms of performances and the appearance of new audiences. However, ticket pricing rose and the total income failed to reach our aspirations. The new venues are good for selected events, and we shall continue to enlarge the programme variety. Educational development work especially in conjunction with the Springwood Academy Trust is a particular focus.

Recruitment is again in hand for a Festival Manager to work alongside Ambrose Miller, our long-serving artistic director. Advance planning to secure leading performances has been taking place for the 75th anniversary of Festival in 2026, but there is much to be arranged during this autumn.

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

3 Thoresby College Queen Street King's Lynn Norfolk PE30 1HX

3

King's Lynn Festival Limited

Trustees' Report

for the Year Ended 31 March 2025

Trustees

Mrs S Cliffe Mr D P Collingham Mrs A J Croose Mr A G Parker (chair) Mr A J Williams Mr T A Thomas Mr R G W Anderson Miss L Bambridge

Company Secretary Mr A J Williams

Independent Examiner

Claire Melton Stephenson Smart (East Anglia) Limited Chartered Accountants 22-26 King Street King's Lynn Norfolk PE30 1HJ

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 16 September 2025 and signed on its behalf by:

Mr A G Parker - Trustee

4

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 ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

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 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I 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:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. 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

  4. 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 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 Anglia) Limited Chartered Accountants 22-26 King Street King's Lynn Norfolk PE30 1HJ

16 September 2025

5

King's Lynn Festival Limited

Statement of Financial Activities

for the Year Ended 31 March 2025

Unrestricted
Restricted
funds
funds
Notes
£
£
Income and endowments from
Donations and legacies
2
144,405
2,000
Charitable activities
4
Festival activities
141,666
-
Investment income
3
3,106
409
Total
289,177
2,409
Expenditure on
Charitable activities
5
Festival activities
260,552
-
NET INCOME
28,625
2,409
Transfers between funds
15
384
(384)
Net movement in funds
29,009
2,025
Reconciliation of funds
Total funds brought forward
70,881
21,797
Total funds carried forward
99,890
23,822		 31.3.25
Total
funds
£
146,405
141,666
3,515
291,586
260,552
31,034
-
31,034
92,678
123,712		 31.3.24
Total
funds
£
136,036
128,342
2,513
266,891
233,534
33,357
-
33,357
59,321
92,678

The notes form part of these financial statements

6

King's Lynn Festival Limited

Balance Sheet

31 March 2025

Unrestricted
Restricted
funds
funds
Notes
£
£
Fixed assets
Tangible assets
11
1,028
-
Current assets
Debtors
12
5,407
-
Cash at bank and in hand
191,886
23,822
197,293
23,822
Creditors
Amounts falling due within one year
13
(25,081)
-
Net current assets
172,212
23,822
Total assets less current liabilities
173,240
23,822
Provisions for liabilities
14
(73,350)
-
NET ASSETS
99,890
23,822
Funds
15
Unrestricted funds
Restricted funds
Total funds		 31.3.25
Total
funds
£
1,028
5,407
215,708
221,115
(25,081)
196,034
197,062
(73,350)
123,712
99,890
23,822
123,712		 31.3.24
Total
funds
£
1,104
6,100
196,692
202,792
(37,868)
164,924
166,028
(73,350)
92,678
70,881
21,797
92,678

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

7

King's Lynn Festival Limited

Balance Sheet - continued

31 March 2025

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 16 September 2025 and were signed on its behalf by:

Mr A G Parker - Trustee

Mr A J Williams - Trustee

The notes form part of these financial statements

8

King's Lynn Festival Limited

Cash Flow Statement

for the Year Ended 31 March 2025

Notes
Cash flows from operating activities
Cash generated from operations
1
Interest paid
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Net cash provided by investing activities
Change in cash and cash equivalents in the
reporting period
Cash and cash equivalents at the beginning of
the reporting period
Cash and cash equivalents at the end of the
reporting period		 31.3.25
£
15,707
-
15,707
(206)
3,515
3,309
19,016
196,692
215,708		 31.3.24
£
37,208
(2)
37,206
-
2,513
2,513
39,719
156,973
196,692

The notes form part of these financial statements

9

King's Lynn Festival Limited

Notes to the Cash Flow Statement for the Year Ended 31 March 2025

1. Reconciliation of net income to net cash flow from operating activities

Reconciliation of net income to net cash flow from operating activities
Net income for the reporting period (as per the Statement of Financial Activities)
Adjustments for:
Depreciation charges
Interest received
Interest paid
Decrease in debtors
(Decrease)/increase in creditors
Net cash provided by operations		 31.3.25
£
31,034
282
(3,515)
-
693
(12,787)
15,707		 31.3.24
£
33,357
371
(2,513)
2
2,442
3,549
37,208

2. Analysis of changes in net funds

At 1.4.24 Cash flow At 31.3.25
£ £ £
Net cash
Cash at bank and in hand 196,692 19,016 215,708
196,692 19,016 215,708
Total 196,692 19,016 215,708

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 2025

1. Accounting policies

Basis of preparing 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 (FRS 102) '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 (FRS 102) (effective 1 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 within the objects of the charity. Restrictions 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 post-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 2025

2. Donations and legacies

Donations and legacies
Unrestricted
Restricted
funds
funds
£
£
Sponsorship
23,450
-
Donations
38,378
2,000
Gift aid
7,696
-
Grants
74,881
-
144,405
2,000
Grants received during the year are as follows:
Norfolk County Council
KL & WNBC
Norfolk Community Fund
Other grants		 31.3.25
Total
funds
£
23,450
40,378
7,696
74,881
146,405
Year
ended
31.3.25
£
4,765
25,390
39,176
5,550
74,881		 31.3.24
Total
funds
£
23,683
68,588
7,610
36,155
136,036
Year
ended
31.3.24
£
4,765
28,390
-
3,000
36,155

3. Investment income

Investment income
31.3.25 31.3.24
Unrestricted Restricted Total Total
funds funds funds funds
£ £ £ £
Deposit account interest 3,106 409 3,515 2,513

12

King's Lynn Festival Limited

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

4. Income from charitable activities

4.
Income from charitable activities
Activity
Box office and other
performance related income
Festival activities
Box office and other
performance related income -
Winter series
Festival activities
Box office and other
performance related income -
Mini festivals
Festival activities
5.
Charitable activities costs
Festival activities
6.
Support costs
Festival activities
7.
Net income/(expenditure)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets		 31.3.25
31.3.24
£
£
113,978
106,171
24,529
18,178
3,159
3,993
141,666
128,342
Support
Direct
costs (see
Costs
note 6)
Totals
£
£
£
258,619
1,933
260,552
Governance
costs
£
1,933
31.3.25
31.3.24
£
£
282
371		 31.3.24
£
106,171
18,178
3,993
128,342
Totals
£
260,552

13

King's Lynn Festival Limited

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

8. Trustees' remuneration and benefits

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.

9. Staff costs

31.3.25
£
Wages and salaries
57,094
Other pension costs
8,721
65,815
The average monthly number of employees during the year was as follows:
31.3.25
Administration
4
No employees received emoluments in excess of £60,000.
Comparatives for the statement of financial activities
Unrestricted
Restricted
funds
funds
£
£
Income and endowments from
Donations and legacies
136,036
-
Charitable activities
Festival activities
128,342
-
Investment income
2,309
204
Total
266,687
204
Expenditure on
Charitable activities
Festival activities
233,534
-
NET INCOME
33,153
204
Reconciliation of funds
Total funds brought forward
37,728
21,593		 31.3.24
£
54,689
13,637
68,326
31.3.24
4
Total
funds
£
136,036
128,342
2,513
266,891
233,534
33,357
59,321

10. Comparatives for the statement of financial activities

14

King's Lynn Festival Limited

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

10. Comparatives for the statement of financial activities - continued
Unrestricted Restricted Total
funds funds funds
£ £ £
Total funds carried forward 70,881 21,797 92,678
11. Tangible fixed assets
Fixtures
and
fittings
£
Cost
At 1 April 2024 5,365
Additions 206
At 31 March 2025 5,571
Depreciation
At 1 April 2024 4,261
Charge for year 282
At 31 March 2025 4,543
Net book value
At 31 March 2025 1,028
At 31 March 2024 1,104
12. Debtors: amounts falling due within one year
31.3.25 31.3.24
£ £
Trade debtors 14 5,820
VAT 771 -
Prepayments 4,622 280
5,407 6,100

15

King's Lynn Festival Limited

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

13. Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Trade creditors
Social security and other taxes
Pension
Deferred income
Accrued expenses		 31.3.25
£
674
543
7,655
7,652
8,557
25,081		 31.3.24
£
-
544
7,906
22,618
6,800
37,868

14. Provisions for liabilities

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 £980 (2024: £1,525).

Provision for future liabilities: Within 12 months £7,655 (2024 £7,906) After 12 Months £73,350 (2024 £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 was 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 has been fully provided for in the balance sheet.

Under the recovery programme agreed with the Trustees of the Scheme,the Trustees of Kings Lynn Festival Limited will continue to make payments towards the deficit each month which increases by 5% per annum until February 2030 under a new agreement. The most current valuation indicates that the liability has not decreased so the £7,791 paid has been charged to the income and expenditure account.

The adequacy of the deficit reduction payments will be determined from the results of the current scheme revaluation which will be available in early 2026 and the contingency adjusted accordingly.

Due to the number of employers contributing to the Scheme, it is not possible at 31 March 2025 (or March 2024) 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 2025

15. Movement in funds
Net Transfers
movement between
At 1.4.24 in funds funds At 31.3.25
£ £ £ £
Unrestricted funds
General fund 35,451 (11,602) 9,384 33,233
Music Society designated fund 6,343 115 (3,000) 3,458
Norfolk Community Fund - 39,176 - 39,176
Huggins 29,087 936 (6,000) 24,023
70,881 28,625 384 99,890
Restricted funds
Ruth Fermoy memorial fund 21,797 405 (384) 21,818
G Watling - 2,004 - 2,004
21,797 2,409 (384) 23,822
TOTAL FUNDS 92,678 31,034 - 123,712
Net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 248,950 (260,552) (11,602)
Music Society designated fund 115 - 115
Norfolk Community Fund 39,176 - 39,176
Huggins 936 - 936
289,177 (260,552) 28,625
Restricted funds
Ruth Fermoy memorial fund 405 - 405
G Watling 2,004 - 2,004
2,409 - 2,409
TOTAL FUNDS 291,586 (260,552) 31,034

17

King's Lynn Festival Limited

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

15. Movement in funds - continued

Comparatives for movement in funds

Net
movement
At 1.4.23
in funds
At
£
£
Unrestricted funds
General fund
37,728
(2,277)
Music Society designated fund
-
6,343
Huggins
-
29,087
37,728
33,153
Restricted funds
Ruth Fermoy memorial fund
21,593
204
TOTAL FUNDS
59,321
33,357		 31.3.24
£
35,451
6,343
29,087
70,881
21,797
92,678

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 231,257 (233,534) (2,277)
Music Society designated fund 6,343 - 6,343
Huggins 29,087 - 29,087
266,687 (233,534) 33,153
Restricted funds
Ruth Fermoy memorial fund 204 - 204
TOTAL FUNDS 266,891 (233,534) 33,357

18

King's Lynn Festival Limited

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

15. Movement in funds - continued

A current year 12 months and prior year 12 months combined position is as follows:

Net Transfers
movement between
At 1.4.23 in funds funds At 31.3.25
£ £ £ £
Unrestricted funds
General fund 37,728 (13,879) 9,384 33,233
Music Society designated fund - 6,458 (3,000) 3,458
Norfolk Community Fund - 39,176 - 39,176
Huggins - 30,023 (6,000) 24,023
37,728 61,778 384 99,890
Restricted funds
Ruth Fermoy memorial fund 21,593 609 (384) 21,818
G Watling - 2,004 - 2,004
21,593 2,613 (384) 23,822
TOTAL FUNDS 59,321 64,391 - 123,712

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 480,207 (494,086) (13,879)
Music Society designated fund 6,458 - 6,458
Norfolk Community Fund 39,176 - 39,176
Huggins 30,023 - 30,023
555,864 (494,086) 61,778
Restricted funds
Ruth Fermoy memorial fund 609 - 609
G Watling 2,004 - 2,004
2,613 - 2,613
TOTAL FUNDS 558,477 (494,086) 64,391

Designated funds

During the reporting period, the charity received grants amounting to £39,176. The donors stipulated the purposes of the monies granted so 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

King's Lynn Festival Limited

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

16. Related party disclosures

There were no related party transactions for the year ended 31 March 2025.

17. Designated funds

Last 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 two designated funds for this purpose.

Money has been released from both funds during this year.

The funds are held in a general bank account to be released as agreed by the Trustees in future years.

20

King's Lynn Festival Limited

Detailed Statement of Financial Activities for the Year Ended 31 March 2025

Income and endowments
Donations and legacies
Sponsorship
Donations
Gift aid
Grants
Investment income
Deposit account interest
Charitable activities
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
Total incoming resources
Expenditure
Charitable activities
Wages
Pensions
Rent, rates and utilities
Insurance
Telephone
Postage and stationery
Publicity costs
Sundries
Artistic costs and expenses
Box office commission and credit card charges
Staging costs
Artistic advisors costs
Performing rights licences
Hire of venues
Depreciation of tangible fixed assets
Carried forward		 31.3.25
£
23,450
40,378
7,696
74,881
146,405
3,515
113,978
24,529
3,159
141,666
291,586
57,094
8,721
6,070
1,334
1,038
1,872
22,243
10,125
94,727
14,607
5,982
12,822
2,683
19,019
282
258,619		 31.3.24
£
23,683
68,588
7,610
36,155
136,036
2,513
106,171
18,178
3,993
128,342
266,891
54,689
13,637
5,315
1,152
431
2,677
17,183
9,189
79,545
12,779
5,032
11,710
3,197
14,928
371
231,835

This page does not form part of the statutory financial statements

21

King's Lynn Festival Limited

Detailed Statement of Financial Activities for the Year Ended 31 March 2025

Charitable activities
Brought forward
Bank interest
Support costs
Governance costs
Accountancy and legal fees
Total resources expended
Net income		 31.3.25
£
258,619
-
258,619
1,933
260,552
31,034		 31.3.24
£
231,835
2
231,837
1,697
233,534
33,357

This page does not form part of the statutory financial statements

22