||||Page||
|---|---|---|---|---|
|Report ofthe Chair|||||
|Report ofthe CEO|||||
|Report ofthe Trustees||3|to|6|
|Report ofthe Independent|Auditors|7|to|9|
|Statement of Financial Activities|||10||
|Balance Sheet|||||
|Cash Flow Statement|||12||
|Notes to the Cash Flow Statement|||13||
|Notes to the Financial Statements||14|to|23|
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||||||||2022|2021|
|---|---|---|---|---|---|---|---|---|
||||||Unrestricted|Restricted|Total|Total|
||||||fund|funds|funds|funds|
|||||Notes||E|F|F|
|INCOME AND ENDOWMENTS||FROM|||||||
|Donations
and legacies|||||976,027||976,027|166,865|
|Charitable
activities|||||||||
|Hay Festival|||||3,214,723|27,739|3,242,462||
|Partnership
working||||||30,000|30,000||
|School programme||||||151,453|151,453||
|International
festival|support||||281,274||281,274||
|Investment
income|||||1,195||1,195|19|
|Other income|||||5,219||5,219||
|Total|||||4,478,438|209,192|4,687,630|166,884|
|EXPENDITURE ON|||||||||
|Charitable
activities|||||||||
|Support of Hay Festival of Literature|||and The Arts|||||45,853|
|Hay Festival|||||4,421,671|27.739|4,449,410||
|Partnership
working||||||30,000|30,000||
|School programme||||||151,453|151,453||
|Total|||||4,421,671|209,192|4,630,863|45,853|
|NET INCOME|||||56,767||56,767|121,031|
|RECONCILIATION|OF FUNDS||||||||
|Total funds brought|forward||||418,658||418,658|297,627|
|TOTAL FUNDS CARRIED FORWARD|||||475,425||475,425|418,658|
##
|||||||2022|2021|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|Total|
|||||fund|funds|funds|funds|
||||Notes|F||f|E|
|FIXEDASSETS||||||||
|Tangible|assets|||13,290||13,290||
|CURRENT ASSETS||||||||
|Stocks|||14|24,863||24,863||
|Debtors|||15|154,393|10,000|164,393|8,963|
|Cash at|bank|||730,006|~10,000)|720,006|457,930|
|||||909,262||909,262|466,893|
|CREDITORS||||||||
|Amounts|falling due within|one year|16|(391,074)||(391,074)|(48.235)|
|NET CURRENT ASSETS||||518,188||518,188|418,658|
|TOTAL|ASSETS LESSCURRENT LIABILITIES|||531,478||531,478|418,658|
|CREDITORS||||||||
|Amounts|falling due after more than one year||17|(56,053)||(56,053)||
|NET ASSETS||||475.425||475,425|4f5,555|
|FUNDS|||20|||||
|Unrestricted
funds||||||475.425|418,658|
|TOTAL|FUNDS|||||475,425|418,658|
##
|||||2022|2021|
|---|---|---|---|---|---|
||||Notes|f||
|Cash flows from operating|activities|||||
|Cash generated
from operations||||201,991|63,806|
|Net cash provided
by operating||activities||201,991|63,806|
|Cash flows from investing|activities|||||
|Purchase
of tangible
fixed assets||||(17,163)||
|Interest received||||1,195|19|
|Net cash (used in)/provided|by|investing|activities|~15,9662|19|
|Cash flows from financing|activities|||||
|New loans in year||||76,053||
|Net cash provided
by financing||activities||76,053||
|Change
in cash and cash|equivalents||in|||
|the reporting
period
Cash and cash equivalents|at|the||262,076|63,825|
|beginning
ofthe reporting|period|||457,930|394,105|
|Cash and cash equivalents|at|the end|of|||
|the reporting
period||||720,006|457,930|
##
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||RECONCILIATION|RECONCILIATION|OF NET INCOME TO NET CASH FLOW FROM OPERATING|OF NET INCOME TO NET CASH FLOW FROM OPERATING|OF NET INCOME TO NET CASH FLOW FROM OPERATING|OF NET INCOME TO NET CASH FLOW FROM OPERATING|ACTIVITIES||
|---|---|---|---|---|---|---|---|---|
||||||||2022f|2021
f|
||Net income|for the|reporting|||period (as per the Statement of Financial|||
||Activities)||||||56,767|121.031|
||Adjustments|for:|||||||
||Depreciation|charges|||||3,873||
||Interest received||||||(1,195)|(19)|
||Increase
in stocks||||||(24,863)||
||(Increase)/decrease||in|debtors|||(155,430)|210,804|
||Increase/(decrease)||in|creditors|||322,839|~268,0)0|
||Net cash provided||by|operations|||201,991|63,806|
|2.|ANALYSIS OF CHANGES||||IN|NET FUNDS|||
|||||||At 1/1/22|Cash flow
f|At 31/12/22
f|
||Net cash||||||||
||Cash at bank|||||457,930|262,076|720,006|
|||||||457,930|262,076|720,006|
||Debt||||||||
||Debts falling|due within||1 year|||(20,000)|(20,000)|
||Debts falling|due after 1 year|||||~56,053)|~55,053)|
||||||||~76.053)|~76,053)|
||Total|||||457,030|186,023|643,953|
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|||||||||2022|2021|
|---|---|---|---|---|---|---|---|---|---|
||||||||||f|
|Membership||income||||||136,497|61,322|
|Donations||||||||56,440|90,869|
|Gift aid||||||||27,038|14,674|
|Grants||||||||723,307||
|Hay Player||subscriptions||||||32,745||
|||||||||676.027|166,865|
|Grants|received,||included||in the above, are as follows:|||||
|||||||||2022|2021|
|||||||||f|f|
|Welsh|Government|||- Cultural
Recovery Fund Round 3||||61,640||
|Arts Council||Wales||—Hay|Festival 2022 I Hay Festival international||Focus|50,000||
|Arts Council||England - Culture Recovery Fund continuity||||support||600,000||
|Interns|funding|||||||11,667||
|||||||||723,307||
|INVESTMENT INCOME||||||||||
|||||||||2022|2021|
|||||||||6|F|
|Deposit|account||interest|||||1,195|19|
##
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|INCOME FROM C|HARIT|ABLE|ACTIVITIES|||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||||2022|2021|
||||Activity|||||E|6|
|Ticket sales|||Hay Festival|||||1,490,424||
|Book sales|||Hay Festival|||||525,208||
|Sponsorship
income|||Hay Festival|||||641,913||
|Exhibitors|||Hay Festival|||||191,930||
|Grants|||Hay Festival|||||27,739||
|Other festival related income|||Hay Festival|||||277, 3'I 7||
|Festival related merchandise|||Hay Festival|||||87,931||
|Grants|||Partnership|working||||30,000||
|Grants|||School programme|||||151,453||
|Management
fees|||International|festival|support|||281,274||
|||||||||3,705,189||
|Grants received. included||in the|above, are as follows:|||||||
|||||||||2022|2021|
|The British Council|- Supporting||a series of literature||events|||21,500||
|The British Council|- Digital Partnership
Lviv International|||||Bookforum|2022|30,000||
|Welsh Government|- Hay|Festival Schools Programme||||2021-22||40,000||
|Welsh Government|- Hay|Festival Schools Programme||||2022-23||111,453||
|University
ofSouth|Wales|- Scribblers
Day||||||3.450||
|WOM@ARTS projects||||||||2,789||
|||||||||209,192||
|CHARITABLE ACTIVITIES COSTS||||||||||
||||||||Direct|Support||
||||||||Costs (see|costs (see||
||||||||note 7)|note 8)|Totals|
||||||||E|E||
|Hay Festival|||||||3,589,639|859,771|4,449,410|
|Partnership
working|||||||30,000||30,000|
|School programme|||||||151,453||151,453|
||||||||3,771,092|859,771|4,630,863|
##
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|7.|DIRECT COSTS OF CHARITABLE ACTIVITIES|||
|---|---|---|---|
|||2022|2021|
|||F|E|
||Staff costs —core payroll|587,215||
||Direct costs - Hay Festival 2022 / Winter Weekend 2022|2,586,734||
||Bookshop costs|315,930||
||Merchandise
costs|42,045||
||Staff costs - festival event direct|239,168||
|||3,771,092||
|8.|SUPPORT COSTS|||
|SUP|PORT COSTS||||
|---|---|---|---|---|
|||Staff|||
|||costs
E|Finance|Depreciation
f|
|Hay|Festival|111,778|4,714|3,873|
||||Governance||
|||Other|costs|Totals|
|||F|||
|Hay|Festival|498.D48|241,358|859,771|
##
|||2022|2021|
|---|---|---|---|
||||E|
|Auditors'
remuneration||5,500||
|Depreciation|- owned assets|3,873||
|Independent|Examiner fees||2,295|
##
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||||||2022|2021|
|---|---|---|---|---|---|---|
|Wages and|salaries||||838.637||
|Social Secunty costs|||||89.047||
|Pension costs|||||13,495||
||||||941, I79||
|The average|number|of employees|during|the year:|||
||||||21||
|xceeded f|60,000was|
|---|---|
|2022|2021|
|1||
##
##
|All income and expenditure
in the year ended 31 December 202
TANGIBLE FIXEDASSETS|1 was unrestricted.|
|---|---|
||Computer|
||equipment|
|COST||
|Additions|17,163|
|DEPRECIATION||
|Charge for year|3,873|
|NET BOOK VALUE||
|At 31 December 2022|13,290|
|At 31 December 2021||
##
##
|14.|STOCKS|||||||
|---|---|---|---|---|---|---|---|
|||||||2022|2021|
|||||||f|f|
||Merchandise
stock|||||24,863||
|15.|DEBTORS:AMOUNTS|FALLING DUE WITHIN ONE YEAR||||||
|||||||2022|2021|
|||||||f|f|
||Trade debtors|||||51,668|2,334|
||Gift aid recoverable|||||4,087|3,422|
||Other debtors|||||24,538||
||Prepayments
and accrued||income|||84,100|3,207|
|||||||194.393|8,963|
|16.|CREDITORS: AMOUNTS||FALLING|DUE WITHIN ONE YEAR||||
|||||||2022|2021|
||||||||f|
||Bank loans and overdraffs||(see note|18)||20,000||
||Trade creditors|||||67,033||
||Social security and other taxes|||||21,257||
||VAT|||||15.428|1,392|
||Other creditors|||||8,757||
||Accruals and deferred
income|||||258,599|46,843|
|||||||391,0 4|48,235|
||Induded
within accruals|and deferred||income above is the following|deferred income:|||
|||||||2022|2021|
||||||||f|
||Benefactor membership|in|advance|||21,112|7,778|
||Caterer deposits - Hay Festival 2023|||||2,025||
||International
festivals - ticket sales|||||40,480||
||Ticket sales - Hay Festival||2023|||100,323||
||Intern salary funding|||||6,509||
||Other advanced
ticket sales|||||1,760||
|||||||172,209|7,778|
##
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##
|17.|CREDITORS: AMOUNTS|FA|LLING DUE AFTE|R MORE|THAN ONE YEAR|||
|---|---|---|---|---|---|---|---|
|||||||2022|2021|
|||||||f||
||Bank loans (see note 18)|||||56,053||
|18.|LOANS|||||||
||An analysis
of the maturity|of|loans is given below:|||||
|||||||2022
f|2021
f|
||Amounts
falling due within|one year on demand:||||||
||Bankloans|||||20,000||
||Amounts
falling between
Bank loans -1-2years|one|and two years:|||10,000||
||Amounts
falling due between
Bank loans -2-5years||two and five years:|||46,053||
|19.|LEASING AGREEMENTS|||||||
||Minimum
lease payments|under non-cancellable||operating|leases fall due as follows:|||
|||||||2022|2021|
|||||||f|f|
||Within one year|||||54,279||
||Between one and five years|||||115,372||
|||||||169,651||
##
|MOVEM|ENT|IN FUNDS||||
|---|---|---|---|---|---|
|||||Net||
|||||movement|At|
||||At 1/1/22
f|in funds|31/12/22
f.|
|Unrestricted||funds||||
|General|fund||418.658|56.767|475,425|
|TOTAL|FUNDS||448658|56,767|475,425|
##
##
|MOVEMENT
IN FUNDS - contin|MOVEMENT
IN FUNDS - contin|MOVEMENT
IN FUNDS - contin|MOVEMENT
IN FUNDS - contin|ued||||
|---|---|---|---|---|---|---|---|
|Net movement
in funds. induded||||in the above are as follows:||||
||||||Incoming|Resources|Movement|
||||||resources|expended|in funds|
|||||||E|E|
|Unrestricted
funds||||||||
|General
fund|||||4,478,438|(4,421,671)|56,767|
|Restricted funds||||||||
|Partnership
/ Lviv International|||Book forum|||||
|2022|||||30,000|(30,000)||
|Schools programme||2022-23|||111,453|(111,453)||
|Series of literature|events and||commissions||21,500|(21,500)||
|Schools
programme||2021-22|-|Scribblers||||
|tour February 2022|||||40,000|(40,000)||
|Scribblers Day
INOMOARTS
projects|||||3,450
2,789|(3,450)
~2,789)||
||||||209,192|~209,192||
|TOTAL FUNDS|||||4,687,630|~4.630,863)|56,767|
##
|||||||Net||
|---|---|---|---|---|---|---|---|
|||||||movement|At|
||||||At 1/1/21|in funds|31/12/21|
|||||||6|E|
|Unrestricted||funds||||||
|General|fund||||297,627|121,031|418,658|
|TOTAL|FUNDS||||297,627|121,031|418,658|
|Comparative||net movement|in funds,|included|in the above are as follows:|||
||||||Incoming|Resources|Movement|
||||||resources
6|expended
f|in funds
E|
|Unrestricted||funds||||||
|General|fund||||166,884|(45,853)|121,031|
|TOTAL|FUNDS||||166,884|~45.853)|121.031|
##
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