Reglstered Number: 03708860 Report of the Directors and Unaudited Financial Statements for the year ended 31 March 2024 BILLINGHAM INTERNATIONAL FOLKLORE FESTIVAL LIMITED
BILLINGHAM INTERNATIONAL FOLKLORE FESTIVAL LIMITED Contents Page For the year ended 31 March 2024 Company information Directors, report Accountants, repoi L Income statement Statement of financial position Notes to the financial statements Detailed income statement io 2oflO
BILLINGHAM INTERNATIONAL FOLKLORE FESTIVAL LIMITED Company Information For the year ended 31 March 2024 Directors Robert Cook Elizabeth Cmot Danielle Cutler Lisa Maloney Olga Maloney Kathryn ODonnell Susan Taylor Registered Number 03708860 Registered Office stockton Business Centre 70 Brunswick Street stockton on Tees TS18 IDW Accountants Wm Fortune and Son Collingwood House Church Square Hartlepool TS24 7EN Secretary Olga Maloney 3oflO
BILLINGHAM INTERNATIONAL FOLKLORE FESTIVAL LIMITED Directors, Report For the year ended 31 March 2024 Dlrector's report and financial statements The directors present his/her/their annual report and the financial statements for the year ended 31 March 2024. Principal activities Principal activity of the company during the financial year was of organising music and folklore festival Directors The directors who served the company throughout the year were as follows: Robert Cook Elizabeth Croot Danielle Cutler Llsa Maloney Olga Maloney Kathryn ODonnell Susan Taylor Statement of directors, responslbillties The directors are responsible for preparing the directors, report and the financial statement5 In accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these financial statements, the directors are required to select suitable accounting policies and then apply them consistently rnake judgements and accounting estimates that are reasonable and prudent state whether applicable UK Accounting Standards have been followed, subject to any materlal departures disclosed and explained in the financial statements and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in busine5S. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguardlng the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom* goveming the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions This report was approved by the board and signed on its behalf by: Olga Malon Secretary Date approved: 16 June 2024 4oflO
BILLINGHAM INTERNATIONAL FOLKLORE FESTIVAL LIMITED Accountants, Report For the year ended 31 March 2024 Accountant's report You consider that the company is exempt from an audit for the year ended 31 March 2024 . You have acknowledged, on the balance sheet* your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year. In accordance with your instructions, we have ppared the accounts which comprise the Profit and Loss Account, the statement of Comprehensive Income, the Balan Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of infomiation and explanations you have given to us. We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts. Wm Fortune and Son 31 March 2024 WS )-_E.-. Wm Fortune and Son Collingwood House Church Square Hartlepool TS24 7EN 16 June 2024 5oflO
BILLINGHAM INTERNATIONAL FOLKLORE FESTIVAL LIMITED Income Statement For the year ended 31 March 2024 Notes 2024 2023 Turnover 218,759 24,889 Cost of sales (3,757) (529) Gross profit 215,002 24,360 Administrative expenses (227,330) (43,465) Operating loss (12.328) (19,105) Profit/(Loss) on ordinary artivities before taxation (12,328) {19,105) Tax on profit on ordinary activities Profit/(Loss) for the financial year (12,328) (19,105) 6oflO
BILLINGHAM INTERNATIONAL FOLKLORE FESTIVAL LIMITED Statement of Financial Position As at 31 March 2024 Notes 2024 2023 Fixed assets Tanglble fixed assets 2,000 4,374 2.000 4,374 Current assets Stocks 1,000 4,757 Cash at bank and in hand 29,110 35,307 30.110 40.064 Creditors: amount falling due withtn one year Net current assets (901) 29,209 (901) 39,163 Total assets less current liabilities 31,209 43,537 Net assets 31,209 43,537 Capital and reserves Profit and loss account 31,209 43,537 Shareholder's funds 31,209 43,537 For the year ended 31 March 2Q24 the company was entitled to exemption from audlt under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities: l. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476. 2. The directors acknowledge their responsibilities for complying wlth the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financlal statements were approved by the board of directors on 16 June 2024 and were signed on its behalf by: Olga Maloney Director 7oflO
BILLINGHAM INTERNATIONAL FOLKLORE FESTIVAL LIMITED Notes to the Financial Statements For the year ended 31 March 2024 General Information Billingham International Folklore Festival Llmited is a private company, limited by shares, registered in , registration number 03708860, registration address Stockton Business Centre. 70 Brunswick Street , Stockton on Tees, TS18 IDW. The presentation currency is £ sterling. l. Accounting policies Signlficant accounting policies statement of compliance These financial statements have been prepared in compliance with FRS 102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. Basis of preparation The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial Instrurnents measured at fair value in accordance wlth the accounting policies. The financial statements are prepared in sterling which is the functional currency of the company. 2. Operating profit/(loss) 2024 2023 The operating loss is stated after charging: Depreciation of tangible fixed assets 2,374 486 8oflO
BILLINGHAM INTERNATIONAL FOLKLORE FESTIVAL LIMITED Notes to the Financial Statements For the year ended 31 March 2024 3. Tangible fixed assets Cost or valuation Fixtures and Fittings Total At 01 April 2023 Additions 32,458 32,458 Disposals At 31 March 2024 32,458 32,458 Depreciation At 01 April 2023 Charge for year On disposals At 31 March 2024 28,084 2,374 28,084 2,374 30,458 30,458 Net book values Closing balance as at 31 March 2024 Opening balance as at 01 April 2023 2,000 4,374 2,000 4,374 4. Stocks 2024 2023 Finished Goods 1,000 1,000 4,757 4,757 5. Creditors: amount falling due within one year 2024 2023 Accrued Expenses Other Creditors 902 (i) 901 902 (i) 901 6. Profit and loss account 2024 Balance at 01 Aprll 2023 Loss for the year Balance at 31 March 2024 43,537 (12,328) 31,209 9oflO
BILLINGHAM INTERNATIONAL FOLKLORE FESTIVAL LIMITED Detailed Income Statement For the year ended 31 March 2024 2024 2023 Turnover Arts Council of England Grant stockton Borough Council Grant Fundraising Performance sales 27,000 161,654 2,500 16,042 7,183 3,000 1,380 218,759 16,169 107 424 Donations 5,227 2,850 112 Sponsorship Bank Interest 24,889 Cost of sales Opening Stock Closing Stock - Raw Materials 4,757 (1,000) 5,286 (4,757) (3,757) 215,002 (529) 24,360 Gross profit Adminlstrative expenses Accountsncy Fees Legal and Professional Fees (Allowable) Festival running costs Rent 1,680 13 1,620 13 196,838 7,213 4,706 370 24,171 7,025 6,037 290 General Travel Expenses Bank Charyes Depreciation Charge: Fixtures & Fittings Advertising General Insurance 2,374 10,485 989 486 639 975 Computer Expenses ststionery & Postage Telephone, Fax & Internet Sundry Expenses Subscriptions 1,873 87 241 60 553 1,142 201 (i) 150 565 (227,330) (12,328) (43,465) (19,105) Operating Ios5 Profit/{Loss) on ordinary activities before taxatlon (12.328) (19,105) Profit/(Loss) for the flnancial year (12.328) (19,105) IOoflO