COMPANY REGISTRATION NUMBER: 04504231 CHARITY REGISTRATION NUMBER: 1097824 The Canterbury Festival Foundation Company Limited by Guarantee Unaudited Financial Statements 31 March 2025 •AEIIOEGJ* 2311212025 COMPANIES HOUSÉ BURGESS HODGSON LIMITED Camburgh House 27 New Dover Road Canterbury Kent CT13DN
The Canterbury Festival Foundation Company Limited by Guarantee Financial Ststsments Year ended 31 March 2025 Page Trustees, annual report (incorporating the directorfs report) Independent examinerfs report to the trustees Statement of financial actNlties (including income and expenditure account) Statement of financial position Statement of cash flovrfs Notes to the financial statements 10
The Canterbury Festival Foundation Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) Year ended 31 March 2025 The Iru51ees, who are also the directors for the PUTpose5 of company law. present their report and the unaudited financial 51alements of the charity for the year ended 31 March 2025. Chairfs report The Board of the Canterbury Festsval Foundation presents rts report for year ending 31 March 2025. The Foundation's rnain Charitsble Objects are to promte and support the charitable purposes of the Canterbury Theatre and Festival Trust (the Trust}, which have included the ownership and slewaréship of Festival House 18 Orange Street. Canterbury). providing a slruclured, quasi-legal framework in which the Friends can operate, and fundraising to support the Festival, including the Young Musician Bursary. Of these. fundraising lo support Ihe Trust ha5 proved the most problemab'¢al. Over the last few years, the Friends have conth'buted about £25k annualty lo the Fesb"val, largely but not only through subscriptions. This needs to continue and. while the number of Friends continues al its current levels, this is a readily achievable tsrgel. In addition, over the last few years, the Foundation has conth"buted £1-2k lo the fvnding of a Young Musician Bursary and £20k lo the Festival rTre generally. However, after comment by the new CEO Susannah Stephenson about the cumbersome structure of the Festival Trusts, the future of the Foundation as a separate entity lo the CT&FT is under question. We will be exploring in the year 2025126 the possibility of merging the roles and assets of the Foundation into the CT&FT. Further comment about the future of the Foundation is superftuous until the direction of the Foundation is deeided. Simon Ludden Chairrnan 1711212025
The Canterbury Festival Foundation Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continueclj Year ended 31 March 2025 Reference and adminislrative details Registered charity name The Canterbury Festival Foundation Charity registration number 1097824 Company registration number 04504231 Principal office and registered Festival House office 8 Orange Street Canterbury Kent CT12JA United Kingdom The trustees A C Hewitt MTLee S T Ludden Prof K C Mander Dr K E Neales Air Marshal C M Nickols H J E Summerfield A S Walder P Williams (Re5ed 10 September 20251 (Died 15 October 20251 Inilependent examiner Andrew Collyer Burgess Hodgson Limrted Camburgh House 27 New Dover Road Canterbury Kent CT1 3DN
The Canterbury Festival Foundation Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directorfs Report) (conrinuedj Year ended 31 March 2025 Structure. governance and management Govèrning document The Canterbury Festival FndatiOn {"the Foundation'l is a company limited by guarantee and a registered charity {with the Charity Commission of England and Wales) governed by its Memorandum and Articles of AsSoation dated 15 Juty 2002. Recruitment and appointment of new trustees As set out in the Articles of Association. the Trustees (other than the nominated trustees arKI the trustee nominated by the Friends) retire by rotation one third each year but shall be eligible for re-election. The Articles allow for the Board to appoint Injslees during the year. such Iruslees shall relain their office only until the nexl AGM bul shall then be eligible for reelection. When considering Co-opting a trustee (new apwinlmenl). Ihe Board has regard to the requirements of any specialist skills needed and in order to provide necessary academic. FKofessional and commercial knowledge required with respect to the charity. Induction and training of new trustees.. trustees undergo training to brief them on their legal obligations under charity and company law. the contents of the Memorandum and Artides of Assouation. the committee and decision-making process and current financial perfomiance of the charity. Organisational structure The Foundation is govemed by the Board of Tnjstees consisting of no less Ihan six and no more than twelve InJstees who meet quarterty and adminisler the Foundation. A Foundation Secretary is appointed by the trustees to manage the day-to-day operation of the charity. At each Board meeting, a detailed report is received for discussion. The Friends of Canterbury Festival Ilhe FrierKls") is a separate class of membership of the Foundatn. Wider network The Foundation has a close relationship with the CanteTOury Theatre and Festival Trust {"Ihe Trust") and the Trust has the power to nominate iwo thirds of the Foundation's Irustees {see above regarding nominated trustees)- The Friends is a separaie dass of the membership of the Foundation_ Its members pay an annual subscription in support of the Trust and help organise fundraising aclivib"es. Related parties The Foundation was incorporated in 2002 as a charitable company limited by guarantee. in order to promote and support the charitsble objects of the Canlerbury Theatre and Festival Trust. The aim of the organisalion is to raise funds, 1¢h ¢an be invesled, and ineome used, lo satisfy and be compliant with the objects of Ihe Trust. The Friends is an org8nisation inlegraled as from June 2004 witti the Foundation. which raises funds for the Trust. In 2024125, the Friends and FoundatM)n donated a tolal of £30.000 lo the Canlerbury Theatre and Festival Trust (2023124.. £35,000). Public Benefit The Iruslees confirm that they have complied wth the dukn.es in sects.on 4 of the Charities Act 2011 to have due gard to the Charity Commission's general guidance on public benefit. The Foundation has referred to the guidance in the Charity CommissN)n general guidance on public benefit when reviewing ils aims and objectives and in planning future aclivilies. In particular. the trustees consider how planned activities will contribute lo the aims and objectives of the charilable eompany.
The Canterbury Festival Foundation Company Limited by Guarantee Trustees. Annual Report {Incorporating the Directorfs Report) (eonllnued) Year ended 31 March 2025 This report has been prepared in acc(Kdance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Objectives and adivities Objectives and arms The objectives of The Can1eUry Festival Foundalion are lo promote and support Ihe charitable purposes of the Canlerbury Theatre and Festival Trust. and to apply the income and. at the discretion of the trustees, the capital of the Foundation, lo or for the benefrt of the Trust. The aims of The Canterbury Festival Foundation are lo build a permaneni fund to support the Canterbury Theatre and Festival Trust. to solicit funds by legacies and otherwise. to secure long-lerrn home for the Tfusl and deliver a significant bursary scheme for young musicians in Kent. Strateglc report The following sections for achievemenls and perfonnance and financial review form the strategic rewrt of the charity. Achievements and perfornian¢e Charitable activities As noted above. the trustees of the Foundation wish to develop the concept of a long-lerm capital fund to support the Trust. The Board is pleased to confimi there have been indications that a number of legacies have been pledged for the future. though the sums are not quanttfiable nor guaranteed. During the eleventh year of the F¢xJndation Young Musioans. Bursary Scheme £1.000 was awarded in 202412512023124.. £5001. The aim of the scheme is to support and nurture the development of young musicians in Kent and to reward the exceptional tslent. potential and commitment of a young musician who would benefit signtficandy from the finanual award. The fundraising activities undertaken by. for. and on behalf of The Friends of Canterbury FestlV81 were varied and enjoyable. The number of Friends. memberships slands at around 692 12023124= 5651 which. when taking Family and Joinl memberships into account. amounts lo approximately 989 {2023124.' 9321 members. Financial review Principal funding sources The Friend5 raised £15.500 {2023124= £16.185) through subscriptions plus £3.669 {2023124.' £3.4581 Gift Aid rebate on the 2023124 subscriptions. A further net income of £16.897 {2023124.. £12.394) was raised through Foundation and Friends events. During the year the Foundation donated £30,000 {2023124'. £35,000) to the Trust, in accordance with our charitable objedives. The Balar Sheet reports the sum of £362.923 {2023124.. £365.579),' of Ihis £352,839 relates to the Foundation {2023124.. £348.gJ81 and £10.084 (2023124= £16.6711 relates lo the Friends. £347,083 12023124.. £347.0831 represents the net book value of freehold propety.
The Canterbury Festival Foundation Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (eontinued) Year ended 31 March 2025 The resources expended are in Ihe main charilable actwilies and fundraisiThJ Costs of £4,047 {2023124.' £3.5481. A further £1.OCx) 12023124.. £500) was awarded through the Young Musicians, Bursary Scheme. The nel deficit for the year is £2.656 12023124- £10.300}. When added to the funds brought foard, the lolal reserve comprising unrestrieted and reStrted funds is £362.92312023124'. £365,579). It is this sum which is noted within the Balance Sheet. As of 31 March 2025, the cash position was £16,730 (2023124.. £19,248). Investment policy and objectives Under the Memoranclum and Articles of AsSoation. the charity has the power to invest the monies of the Foundation not immedialdy required for its purposes. Having regard to the aims and objectives of the Foundation and the Friends. the Trustees have generally maintained a policy of keeping available funds in inlerest bearing short-lem deposit acryjunls wth interesl paid thweon. Reserves poll¢y The trustees are mindful to balan the level of charitable donation to the Trust whilst wmplying with the concept lo maintain a free revenue base in order lo support short and long-term capital projects on behalf of the Trust. specific events or ovetheads. The balan behveen Ihese tsvo ideals is being achieved, at the year end. by maintaining unrestricied furKls of £362.923 (2023124.. £365.5791. Plans for future periods The main objethives of the Foundation are=_ 1. To continue to build the reserves of the FoUndatn and maintsin our assets. 2. To develop further the Foundati'S excellent Bursary scheme and aim to involve more schools in Kenl as well as exploring the potential for further initsatives to develop young people in the Arts. 3. Enhance the profile of the Festival providing fjnancial supwrt for specrfic projects. The Trustees are aware that the Foundation's cash positson is declining with each year that 8 cash donation is made to the TTUSt. and is recharging its efforts lo increase the Foundation's cash position. Thi5 includes the greater provision of fund-raising events. and the proMotn of the Friends. scheme lo increase membership..The Young Musiuans. Bursary Scheme, initiated in 2011. will continue io be developed to ensure greaiÈr promotion and an inttease in applK8nts. The trustees, annual report and the strategie reFK¢( were approved on .. . on behalf of the board of trustees by: . and signed K C Mander Tnjstee
The Canterbury Festival Foundation Company Limited by Guarantee Independent Examiner's Report to the Trustees of The Canterbury Festival Foundation Year ended 31 March 2025 report to the trustees on my examination of the financial statements of The Canterbury Festival Foundation {'the charity'l for the year ended 31 March 2025. Responsibilities and basis of report A5 the tmstees of the company (and also its directors for the purposes of company law} you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 20061'the 2006 Act'i. Having satisfied myself that the accounts of the company are not required lo be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of rny examination of the charity's accounts as carried out under section 145 of Ihe Charities Act 2011 I'lhe 2011 Act'l. In carrying out my examination I have followed the Dire¢b"ons given by the Charity Commission under section 145{5llb) of the 2011 Act. Independent examinerfs statement I have completed my examination_ I confirm that no matters have come to my attenb'on In connection with the examination giving me cause lo believe". accounting records were not kept in res1 of the charity as required by section 386 of the 2006 Act. or the financial 5ts1ements do not accord with those records" or the financial statements do not comply with the aCunting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'lrue and fairf view which is not a matter considered as part of an independent examinalion,. or the financial statements have not been prepared in accordance with the methods and Pfinciples of the Slalement 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 IFRS 1021. I have no concems and have come aeross other matters in connection with the examination lo which attention should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. Andrew Collyer Independent Examiner Burgess Htjdgson Limited Camburgh House 27 New Dover Road Canterbury Kent CT1 3DN 1711212015
The Canterbury Festival Foundation Company Limited by Guarantee Statement of Financial Activities (includlng income and expendlture account) Year ended 31 March 2025 2025 unrestn.cled furmls Total funds 2024 Tdal funds Not• Income and endowments Oonations and legacies Charitable activities Other trading aclivities Investment income 4.069 15.500 16,897 4.069 15,500 16,897 389 3.808 16,185 12.394 462 Total income 36.855 36,855 32.849 Expenditure Expenditure on raising funds.. Costs of other trading activilies Expendrture on charitable actiwties Total expenditure 4.047 35.464 4,047 35.464 3,548 39,601 39.511 39.511 43.149 Net expenditure and nel movem1 in funds {2.656) (2,656) {10,3001 Reconciliation of fvnds Total funds twought fonmard Total funds carrled foNard 365,579 365.579 375.879 362.923 362,923 365.579 The statemeftl of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing aclivibes. Th• notes on pag•s 10 to 16 form part ofthese financial ststements.
The Canterbury Festival Foundation Company Limited by Guarantee Statement of Financlal Position 31 March 2025 2025 2024 Fixed assets Tangible fixed assets 15 347.083 347.083 Current assets Debtors Cash at bank and in hand 16 1.110 16.730 1.450 19.248 17,840 20,698 Creditors: amounts falling due within one ygar Net current assets 17 2.1)00 2.202 15,840 18.496 Total assets less Current liabilities 362,923 365.579 Net assets 362.923 365,579 Funds of the charity Unrestricted funds 362,923 365,579 Total charity funds 18 362.923 365.579 For the year ending 31 March 2025 the charity was entiued to eXernpft from audtt under section 477 of the Companies Act 2006 relating to small companies. Directors. responsibilities= The members have not required the company to obtain an audit of its ffinanal stslements for Ihe year in question in accordance section 476.. The directors acknowledge their responsitN"lilies ts comptying wrlh the requirements of the Act with respeet to accounting records and the preparation of financial statements. These financial statements have been prepared in accordanee with the promsions applicable to companies subject to the small companies. regHne. These financial slalements were approved by the board of Irustees and aulhorised for issue on . and are signed on behaff of the board by.. K C Mander Trustee The noks on page$ 10 to 16 foTh part of these fiTran¢ial statements.
The Canterbury Festival Foundation Company Limited by Guarantee Statement of Cash Flows Year ended 31 March 2025 2025 2024 Cash flows from opèrating activities Nel expenditure (2.656) {10.3001 Adjustmenls for.. Other interest receivable and similar income Accrued expenses {389) 800 1462) Changes in.. Trade and other debtors Trade and other creditors 340 (1,002) (2.907) 11.4501 1,002 Cash generatèd Irom operations (11.210) Inlerest received 389 462 Net cash used in operating acb'vities {2,5181 (10,7481 Net decrease in cash and Cash equivalents Cash and Cash equivalents at beginning of year Cash and cash equivalents at end of year {2.5181 19,248 {10.7481 29,996 16,730 19.248 The Ite5 on pages 10 to 16 forni part <rf thesè financial stat•mènts.
The Canterbury Festival Foundation Company Limited by Guarantee Notes to the Financlal Statements Year ended 31 March 2025 General infomiation The charity is a public benefit entity and a private company limited by guarantee, re9iStered in England and Wales and a registered charity in Englar)d and Wale5. The address of the registered office is Festival House. 8 Orange Street. Canlerbury, Kent. CT1 2JA. United Kingdom. Statement of compliance These financial statements have been prepared in compliance with FRS 102. 'The Financial Reporling Standard applicable in the UK and the Republic of Ireland.. Ihe Stslemenl of ReeommendeLI Practice appjicable lo charilies preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 1021 {Charities SORP (FRS 10211 and the CoMpanS Act 2cl6. Accounting policies Basis of preparatlon The financial statements have been prepared on the historical cost basis. as modrfied by the revalualion of certain financial assets and liabililies and investment properties Trasured at fair value through income or expenditure. The financial statements are prepared in sterfing. whbch is the functional currency of the entity. Going concern There are no material uncertainties at4Jut the ¢hariWs a-IrtY to continue. Judgements and key sources of estimation uncertainty Freehold propety The twstees consider the residual value of the property equal to its cLJsi. Accordingly a charge in respect of depreciation has not been made. Fund accounting Unrestricted funds are available for use at the discretion of the Iwslees lo further any of the charivs purposes. Designated funds are unrestricted funds eamarked by the trustees for partular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the lems of an appeal. and fall into one of subdasses.. restricted income funds or endowment funds. 10
The Canterbury Festival Foundation Company Limited by Guarantee Noles to thè Financial Statements {ntInuedj Year ended 31 March 2025 Accounting pollcles (cortinu6d) Incoming resources All incoming resour are inctuded in the stslemenl of ffinancial aCtItieS when entitlement has passed to the charity.. it is probable Ihal Ihe economic benefits associaled with the transaction will flow to the chanty and the amount can be reliab measured. The following specific policies are applied lo particular categories of income.. income from donations or grants is recognised when there is evidence of entitlement lo the gift. receipt is prObae and lis amount can be measured reliably. legacy income is recognised when receipt is probable and entrtlement is established. income from donated goods is measured al the fair value of the goods unless this is impractical to measure reliably. in which case Ihe value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliabty measured. No amounts are induded for the contribution of general volunteers. income from contracts for the suppty of services is recognised with the delivery of the contracted service. This is clasSrfd as unrestricted funds unless there is a contractual requirernenl for it to be spent on a partioJlar purpose and retumed if unspent. in which case il may be regarded as restricied. Resources expended Expenditure is recognised on an aecruals basis as 8 liability is Incue. Expenditure includes any VAT which cannol be fully recovered, and is classified under headings of the ststement of financial activities to which it relate5.' expenditure on raisirwJ funds includes the costs of all fundraising activities. events. nonoharilable trading actNities, and the sale of donated gC4$. expenditure on charitatAe activities indudes all costs incurred by a charity in undertaking acliirities that further its charitable aims for the benefit of ils beneficiaries. including those support cosls and costs lating to the govemance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neitt*r related to raising funds for the charity nor part of its expendrture on CharItae aetNities. I costs are allocated to expenditure calegories reflecting the use of the resource. Direct costs attributable to a single activity are allocated direclly to that activity. Shared cosls are apportioned betyveen the activities they conlribute lo on a reasonable. justtfiable and consistent basis. Tangible assets Tangible assets are initially recordecl at cosl. and subsequenuy stsled at cost less any accumulated depreciation and impairment losses. Any tangible assets carried ai revalued amounts are recorded at the fair value al the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairrnenl losses. 11
The Canterbury Festival Foundation Company Limited by Guarantee Notes to the Financial Statements (COftllnu¢dl Year ended 31 March 2025 Aecounting policies iconiinued) Depreciation Depreciation is caleulaled so as to write off the cA)st or valuation of an asset, less ils residual value, over the useful ecorbomic life of that asset as follows.. Freehold property 2% on cost The trustees consider the carrying value to equal the residual value and therefore no charge is accounted for in this or the prior pericrfj of accounts. If the residual value is ever deemed to fall further then there will be deprecialK)n in line with the 2% noted above. Impairnient of fixed assets A review for irKlicators of impaimienl is carried out at each reporting date. with the recoverable amount being estimated where such indicators exist. Where the earying value exeeeds the recoverable amount. the asset is impaired acdInglY. Pnor impaimenls are also reviewed for possible reversal at each reporting date. Financial instfuments The charity only has fmancial assets and finanoal liabrlrf(ies of a kind that qualify as basic financial instruments. Basic financial inslrumenls are initially recognised at transactions value and subseqvenlly measured at their setuement value with the exception of bank loans which are subsequendy measured at amortised cost using the effective interest method. Limited by guarantee The charity is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the evenl of the charity being wound up. the liability in respect of the guarantee is limited to £1 per member of the ch8rity. Donatlons and legacies unrestrted Total Funds Unrestricled Total Funds Funds 2025 Funds 2024 Donations Donations Gift 400 3.669 4CKJ 3.669 350 3,458 350 3.458 4.069 4,069 3,808 3,808 Charitable activities Unrestricled Total Funds Unrestricted Tol81 Fur)ds Funds 2025 Funds 2024 Subscriptions 15.500 15.500 16.185 16.185 12
The Canterbury Festival Foundation Company Llmlted by Guarantee Notes to the Financial Stalements (conlinu• Year ended 31 March 2025 Other trading activities Unreslricted Totsl Funds Unrestricted Total Funds Funds 2025 Funds 2024 Fundraising events 16.897 16.897 12,394 12,394 Investment income Unrestricted Total Funds Unrestrided Total Funds Funds 2025 Funds 2024 Bank interest 389 462 462 Costs of other Irading activities Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Fundraising costs 4.047 4,047 3.548 3,548 10. Expenditure on charitable activities by fvnd type Unre5tri¢ted T¢)tsl Funds Unrestricted Total Funds Funds 2025 Funds 2024 Charitable actNitses Support sts 32.963 2.501 32.963 2.501 37.399 2,202 37.399 2,202 35.464 35,464 39.601 39,601 11. Expenditure on charitable aclivities by activity type Aciivities undertaken dire¢Uy Support Tolal funds costs 2025 Totsl fund 2024 Charitable activibes Govemance costs 32.963 32.963 2.501 37.399 2.202 2.501 32,963 2,501 35,464 39,601 12. Independent examination fees 2025 2024 Fees payable lo the independent examiner for-. Independent examination of the financial statements 1.200 1.200 13
The Cantert)ury Festival Foundation Company Limited by Guarantee Notes to the Financial Statements {o7ndnued) Year ended 31 March 2025 13. Staff tosts The total staff costs and employee benefits for the reporting period are analysed as follows.. 2025 2024 The average head count of employees during the year was Nil {2024.' Nill. No employee received employee benefits of rne than £60.IX)O during the year {2024.' Nill. 14. Trustee remuneration and expenses During the year. no Trustees received any remuneration12024 - £Nill- During the year, no Trustees received any benefits in kind {2024 - £Nil)- During the year. no Trustees received any reimbutsemenl of expenses (2024 - £NI). 1 S. Tangible fixed assets Freehold property Cost At 1 April 2024 and 31 March 2025 Depreciation At 1 April 2024 and 31 March 2025 Carrying amount Al 31 March 2025 350.000 2.917 347,083 At 31 March 2024 347.083 16. DebtOTS 2025 2024 Prepayments and accrued income Other debtors 150 1,300 1,110 1,110 1,450 17. Creditors: amounts falling due within one year 2025 2024 Trade credItS Accruals and defefred income 1,002 1,200 2.000 2,000 2,202 14
The Canterbury Festival Foundation Company Limited by Guarantee Notes to the Financial Statements (¢onthiu6d) Year ended 31 March 2025 18. Analysis of charilable funds Unrestricted fvnds At 1 April 2024 Al Transfers 31 March 2025 Income Expendilu General funds Freehold property 18,496 347.083 36.855 {39.S111 15.840 347,083 365,579 36.8S5 {39.S111 362.923 At 1 April 2023 At Transfers 31 March 2024 Income Expenditure Ggneral funds Freehold propety 29,556 347.083 32.849 (43.149) (760). 18,496 347,083 376.639 32.849 (43.149) {7601 365.579 Bursary Scheme Each year The Canterbury FeslNal F(MJndalion offers a Bursary to a young musician which is presented at a concert held during the Canterbury FestNal. Bursary payments of £1.000 12024.. £5001 were awarded lo individLJ8ls in Ihe period. The costs incurred in the year with respect to individual grant making were borne by the Canterbury Theatre and Festival Trust (the Trust). The work was carried out on an in-kind basis by employees of the Trust as part of their normal duties and the cost of staging the corKert was ffiet by the Trust as parts of ils general expenditure on production. 19. Analysis of nel assets between funds Unrestricted Total Funds Funds 2025 Tangible fixed assets Cuffent assets Creditors less than 1 year Net assets 347.083 17.840 12.0001 362,923 347,083 17,840 12,0001 362,923 Unrestricted. Total Funds Funds 2024 Tangible fixed assets Cuent assets Creditors less than 1 year Net assets 347.083 20,698 {2.202) 365.579 347,083 20,698 12.2021 365.579 Is
The Canterbury Festival Foundation Company Limited by Guarantee Notes to the Financial Statements {eonlinu•dJ Year ended 31 March 2025 20. Analysis of changes in net debt At At 1 Apr 2024 Cash llows 31 Mar 2025 Cash al bank and in hand 19.248 {2,518) 16.730 21. Related parties As noted in the Tnjstees. Report. The Canlerfoury Festival Foundation has a ¢k)se relationship with the Trust. The Foundation was incorporated in 2002 as a charitable company limited by guarantee in order to promote and support the chariiable objectives of the Tnjsl. From a trading deficit. the Foundation made a donation of £30.000 12024.. £35.000) lo the Trust, in order to support ils charitable activities frx the year to March 2025. The donation complies with the Foundation's Charitable Status and Memorandum and Articles of Association. 22. Controlling party The Trustees consider the ultimate controller paty the Canterfoury Theatre and Festival Trust. 16