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← Marsden Jazz Festival Limited

2022-12-31-accounts

Marsden Jazz Festival Limited

Charity number 1097200

A company limited by guarantee number 04301891

Annual Report and Financial Statements for the year ended 31 December 2022

Marsden Jazz Festival Limited

Annual Report and Financial Statements for the year ended 31 December 2022

Contents Page
Trustees' report 2 to 4
Examiner's report 5
Statement of financial activities 6
Balance sheet 7
Notes to the accounts 8 to 10

Prepared by West Yorkshire Community Accountancy Service CIO

1

Marsden Jazz Festival Limited

Trustees' report for the year ended 31 December 2022

Reference and administrative details of the charity, its trustees and advisors

The trustees during the financial year and up to and including the date the report was approved were: Name Position Dates

Position Richard Whitelaw Chair David Harris Vice chair Louise Halliwell Kathryn Button Peter Woodman Patricia Brown Joel Robinson Gabriel Brodetsky

Resigned 14 December 2022

Resigned May 2023 Appointed 18 August 2022 Appointed 18 August 2022

Charity number 1097200 Company number 04301891

Registered in England and Wales Registered in England and Wales

Registered and principal address

Registered and principal address Bankers Mechanics Hall Lloyds Bank plc Peel Street 1 Westgate Marsden Huddersfield Huddersfield HD1 2DH HD7 6BW

Independent examiner

E J Beverley FCCA

West Yorkshire Community Accountancy Service CIO

Stringer House 34 Lupton Street Leeds LS10 2QW

Structure, governance and management

The charity is a company limited by guarantee and was formed on 10 October 2001. It is governed by a memorandum and articles of association (amended 5 February 2003 and 12 April 2006). The liability of the members in the event of the company being wound up is limited to a sum not exceeding £1.

Method of recruitment and appointment of trustees

The trustees of the charity are also the directors for the purposes of company law and are appointed by the members at the AGM.

Objectives and activities

The charity's objects

To promote, maintain, improve and advance the education of the people of Marsden and the Colne valley, in particular but not exclusively by promoting, encouraging and increasing their knowledge and appreciation of music especially jazz and associated forms of music by the presentation of public concerts and educational activities.

2

Marsden Jazz Festival Limited

Trustees' report (continued) for the year ended 31 December 2022

The charity's main activities

To organise, promote and conduct the annual Marsden Jazz Festival. This is held mainly over one weekend in mid-October though there are community engagements events such as workshops before the event as well.

Public benefit statement

In setting our objectives and planning our activities our trustees have given serious consideration to the Charity Commission's general guidance on public benefit and to this end have ensured compliance with the objects of the Festival as set out in its Memorandum. These are the furtherance of education in jazz and jazz-related music including making it available free or at a reasonable cost to the people of the Colne Valley and visitors to the area with attention to the involvement of young people.

Achievements and performance

2022 was a challenging year for the festival that resulted in many changes, the effects of which are ongoing. In June we received news from Arts Council England that our National Lottery Project Grant application for the 2022 festival had been unsuccessful. This a major financial blow for the organisation. The festival staff and trustees made the decision to move forward and present the 2022 festival using the organisation’s financial reserves and the festival went ahead in St. Bartholomew’s Church and Marsden Park between the 7-9 October. The lack of funding for the event necessitated a scaled back festival though the high quality production and artistic standards of previous years was maintained and the festival team took great pride in this achievement.

After the festival the financial limitations that the organisation was facing necessitated a swift reduction in capacity. We said goodbye to our employed staff team and to our office at Marsden Mechanics. The organisation had to quickly shrink to a volunteer based model with the trustee team managing the exit of staff and our exit from our premises. Organisational functions that had previously been managed by staff began to be handed over to the trustees.

In order to start building for the future the jazz festival submitted a research and development National Lottery Project Grant application to Arts Council England in late October. The ask to the funder was to financially support a professionally run and externally facilitated process designed to consider the future of the festival. This application outlined the organisation’s desire to build a more sustainable business model and structure, less reliant on large amounts of Arts Council England funding. The jazz festival received news that this application had been successful in late December.

As of May 2023 we are working with an external adviser/facilitator to determine how best we can continue to deliver a jazz festival to Marsden. We have a reasonable degree of confidence that we will be able to continue to operate, albeit in a substantially reduced fashion compared to recent years.

Financial review

The net expenditure for the year was £36,365, including net expenditure of £28,977 on unrestricted funds and net expenditure of £7,388 on restricted funds after transfers.

The current review has identified some material uncertainties but having reviewed our forecasts and reserves we have concluded that the organisation can continue and be treated as a going concern.

Reserves policy

The charity's free reserves, excluding fixed assets, at the year end were £-147.

The charities policy is to hold reserves at a level that would facilitate operation for six months in the event of a significant event that required a winding up of the charity.

Existing reserves have been used during the year to December 2022 to fund the festival held in October 2022. The review being undertaken at the time of approving these accounts will show the best way forward for the charity to continue to deliver a jazz festival but in the event that this is not possible the trustees are confident the reserves required to close the charity are available.

3

Marsden Jazz Festival Limited

Trustees' report (continued) for the year ended 31 December 2022

Statement of trustees' responsibilities

The trustees (who are also the directors for the purposes of company law) are responsible for preparing the Trustees report and the financial statements in accordance with the applicable law and UK Accounting Standards.

Company law requires the trustees to prepare financial accounts for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the year. In preparing these financial statements, the trustees are required to:

select suitable accounting policies and apply them consistently;

observe the methods and principles in the Charities SORP;

make judgements and estimates that are reasonable and prudent;

state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

prepare the accounts on a going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (Charities SORP (FRS102)), and in accordance with the special provisions of the Companies Act 2006 relating to small companies.

approved by the board of trustees on 19/08/2023

Richard Whitelaw (Trustee)

4

Marsden Jazz Festival Limited

Independent examiner's report to the trustees of Marsden Jazz Festival Limited

I report to the charity trustees on my examination of the accounts of the charitable company for the year ended 31 December 2022, which are set out on pages 6 to 10.

Responsibilities and basis of report

As the charity's trustees of the charitable 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 charitable 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 ('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

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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.

E J Beverley FCCA

25/08/2023

West Yorkshire Community Accountancy Service CIO

Stringer House 34 Lupton Street Leeds LS10 2QW

5

Marsden Jazz Festival Limited

Statement of Financial Activities

(including summary income and expenditure account) for the year ended 31 December 2022

Notes
2022
2021
2022
2021
Unrestricted Unrestricted
Restricted
Restricted
funds
funds
funds
funds
£
£
Income from:
Grants
(2)
10,000
5,000
9,939
172,948
Donations and sponsorship
13,993
23,542
-
-
Box office
23,083
10,691
-
-
Stalls
2,535
1,480
-
-
Merchandise
1,348
1,677
-
-
Advertising
560
635
-
-
Other income
175
-
-
-
Total income
51,694
43,025
9,939
172,948
Expenditure on:
Production expenses
Artistes fees
13,502
-
-
18,072
Commissions
-
-
-
1,000
Hire of equipment, PA, lighting
1,338
-
-
-
Publicity
3,289
408
-
9,849
Box office costs
680
-
-
164
Hall and marquee hire
2,250
3,365
750
-
Merchandise
553
-
-
2,193
Event insurance & licences
3,181
-
628
6,015
Travel and subsistence
1,855
5,812
8
1,633
Fundraising costs
880
-
1,800
7,220
Digital production
-
-
-
11,906
Event production
14,223
-
-
32,954
Management and administration
Salaries
(3)
32,398
21,278
9,940
4,508
Rent and room hire
1,016
83
1,057
1,825
Freelance workers
150
9,149
1,800
35,176
Accounts and Independent exam.
990
-
-
810
Telephone and internet
332
-
62
642
Equipment
130
341
-
-
Website
250
-
-
593
Bank charges
299
-
14
719
Software costs
2,067
-
206
1,577
Organisational development
998
464
342
6,472
Partnership fees
-
-
-
5,600
Other expenses
230
-
-
1,443
Professional fees
60
-
720
-
Total expenditure
80,671
40,900
17,327
150,371
Net income / (expenditure)
(28,977)
2,125
(7,388)
22,577
Transfers between funds
-
15,791
-
(15,791)
Net movement in funds
(28,977)
17,916
(7,388)
6,786
Fund balances brought forward
28,830
10,914
7,388
602
Fund balances carried forward
(4)
(147)
28,830
-
7,388		 2022
Total
funds
£
19,939
13,993
23,083
2,535
1,348
560
175
61,633
13,502
-
1,338
3,289
680
3,000
553
3,809
1,863
2,680
-
14,223
42,338
2,073
1,950
990
394
130
250
313
2,273
1,340
-
230
780
97,998
(36,365)
-
(36,365)
36,218
(147)		 2021
Total
funds
£
177,948
23,542
10,691
1,480
1,677
635
-
215,973
18,072
1,000
-
10,257
164
3,365
2,193
6,015
7,445
7,220
11,906
32,954
25,786
1,908
44,325
810
642
341
593
719
1,577
6,936
5,600
1,443
-
191,271
24,702
-
24,702
11,516
36,218

All incoming resources and resources expended derive from continuing activities.

6

Marsden Jazz Festival Limited

Balance sheet

as at 31 December 2022
2022
Unrestricted
£
Current assets
Debtors and prepayments
(5)
156
Cash at bank and in hand
(6)
1,861
Total current assets
2,017
Current liabilities:
amounts falling due within one year
Creditors and accruals
(7)
2,164
Total current liabilities
2,164
Net assets
(147)
Funds
Unrestricted funds
(147)
Restricted funds
-
Total funds
(147)		 2022
Restricted
£
-
-
-
-
-
-
-
-		 2022
Total
£
156
1,861
2,017
2,164
2,164
(147)
(147)
-
(147)		 2021
Total
£
18,275
25,255
43,530
7,312
7,312
36,218
28,830
7,388
36,218

For the year ending 31 December 2022 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the charitable company to obtain an audit of its accounts for the year in question in accordance with section 476. The trustees (who also the directors for the purposes of company law) acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime and with FRS 102 (effective January 2019).

The financial statements were approved by the board of trustees on 19/08/2023

Richard Whitelaw (Trustee)

7

Notes to the accounts

Marsden Jazz Festival Limited

for the year ended 31 December 2022

1 Accounting policies

Basis of accounting

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by 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) and with the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102.

There has been no change to the accounting policies since last year. No changes have been made to the accounts for previous years.

Going concern

The trustees are satisfied that there are no material uncertainties about the charity's ability to continue.

Incoming resources

All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity becomes entitled to the resources, it is more likely than not that the trustees will receive the resources and the monetary value can be measured with sufficient reliability.

Grants and donations

Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources.

Where grants are related to performance and specific deliverables, they are accounted for as the charity earns the right to consideration by its performance.

Expenditure and liabilities

Expenditure is recognised on an accrual basis as a liability is incurred. Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out the resources and the amount of the obligation can be measured with reasonable certainty.

Taxation

As a charity the organisation benefits from rates relief and is generally exempt from income tax and capital gains tax but not from VAT. Irrecoverable VAT is included in the cost of those items to which it relates.

Pensions

The charity operates a defined contribution scheme for the benefit of its employees. The costs of contributions are recognised in the year they are payable.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.

Further explanation of the nature and purpose of each fund is included in the notes to the accounts.

8

Marsden Jazz Festival Limited

Notes to the accounts continued

for the year ended 31 December 2022

2 Grants and donations
Kirklees Council
Arts Council England
The Cuckoos Nest
One Community Foundation
3 Staff costs and numbers
Gross salaries
Social security costs
Employment allowance
Pensions		 2022
Unrestricted
funds
£
10,000
-
-
-
10,000		 2022
Restricted
funds
£
-
9,189
750
-
9,939		 2022
Total
funds
£
10,000
9,189
750
-
19,939
2022
£
41,567
2,776
(2,776)
771
42,338		 2021
Total
funds
£
5,000
166,948
3,000
3,000
177,948
2021
£
25,469
1,989
(1,989)
317
25,786
The average number of employees during the year was 2.6, being an average of 1.4 full time equivalent
(2021: 1.3, 0.8 FTE). There were no employees with emoluments above £60,000.
Defined contribution pension scheme 2022
2021
Costs of the scheme to the charity for the year £
£
771
317
Amount of any contributions outstanding at the year end -
232
**4 ** Restricted funds
Balance b/f
Incoming		 Outgoing
Transfers
Balance c/f
£
£
Cuckoo's Nest
-
750		 £
£
£
750
-
-
One Community Foundation
1,000
-		 1,000
-
-
Arts Council Fund
6,388
9,189		 15,577
-
-
7,388
9,939		 17,327
-
-

Fund name

Cuckoo's Nest One Community Foundation

Arts Council Fund

Purpose of restriction

Contribution to staging for the 2022 festival.

Towards rent, utilities, service charge, other overhead costs and hiring public address system.

Towards the delivery of the Marsden Jazz Festival.

9

Marsden Jazz Festival Limited

Notes to the accounts continued

for the year ended 31 December 2022

5 Debtors and prepayments
Debtors
Prepayments
6 Cash at bank and in hand
Cash at bank
Cash in hand
7 Creditors and accruals
Creditors
Accruals
Taxation and social security		 2022
£
156
-
156
2022
£
1,838
23
1,861
2022
£
294
1,870
-
2,164		 2021
£
18,275
-
18,275
2021
£
25,229
26
25,255
2021
£
1,950
4,488
874
7,312

8 Related party transactions

Trustee expenses

During the year no trustees were paid expenses (previous year: 1 trustee and £113 in respect of travel).

Trustee remuneration and benefits

No trustee received any remuneration or benefit during this or the previous year.

Remuneration and benefits received by key management personnel

The total employee benefits received by key management personnel were £17,911 (previous year: £29,242).

10