REGISTERED COMPANY NUMBER: 05710001 (England and Wales) REGISTERED CHARITY NUMBER: 1113784
REPORT OF THE TRUSTEES AND AUDITE STATEMENT. FOR THE YEAR ENDED 31 DECEMBER 2021
FOR PETWORTH FESTIVAL
Martin and Company 25 St Thomas Street Winchester Hampshire $023 9HJ
PETWORTH FESTIVAL
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
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|---|---|---|---|---|---|---|---|
|Page|
|Report of the Trustees|1|to|3|
|Independent Examiner's|Report|4|
|Statement|of Financial|Activities|5|
|Balance|Sheet|6|to|7|
|Notes|to|the|Financial|Statements|8|to|16|
|Detailed|Statement|of Financial|Activities|17|to|18|
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PETWORTH FESTIVAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
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 December 2021. 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The principal objective is to promote, improve, develop and maintain public appreciation of the arts and sciences in Petworth and district in the County of West Sussex.
Public benefit
The trustees have complied with the duty in section 17(5) of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission. The activities of the charity aim to provide affordable public access to the arts and sciences in the Petworth area.
ACHIEVEMENT AND PERFORMANCE
Although 2021 was a challenging year for The Festival from a financial point of view, it is pleasing to report that we enjoyed a significant move back towards normality even recognising that the covid pandemic still had a lingering and complicating impact.
We were able to put on full and outstanding programmes for both the Summer Music Festival and the Autumn Literary Week. Summer highlights included Jess Gillam, Imogen Cooper, Isata Kanneh-Mason, The Blues Band and Adam Kay, whilst in the Autumn our audiences enjoyed listening to such literary luminaries as Gavin Esler, Sebastian Faulks, Joan Bakewell, Gyles Brandreth and Max Egremont. The return to live performances was indeed a celebration for artists, authors and audiences alike.
We are always indebted to our loyal sponsors whose support is critical to our ability to put on such high quality festivals and it was pleasing that sponsorship levels continued to grow in 2021. Donations and Legacies were £204k compared with £187k in 2020 and £190k in 2019 which was our last "normal " comparable year.7
However, it should be noted that total Festival Ticket Income at £174k was 26% below the levels achieved in 2019. This was to a large extent due to the ongoing impact of Covid and the understandable caution on the part of our some of our audience base. In recognition of this, we restricted audiences to 75% of normal capacity.
As a result of these lower box office income levels and a small increase in expenditure over 2019, the Festival incurred a Net Deficit of £45k in the year. As with most businesses and charities operating in the Arts, it was almost impossible to come through the challenges of 2 years of covid restrictions without impairing our Balance Sheet. Nevertheless our funds at the end of the year still stand at £126k.
We look forward to outstanding programmes in 2022 for both Summer and Autumn festivals and we will retain a significant focus on community, children's and young musician's events,
Finally, the Trustees would again like to thank our sponsors, our management team and our volunteers for their wonderful support.
FINANCIAL REVIEW
Investment policy
The trustees may invest any money not immediately required in such investments as they may think fit. There are no investments held at present.
Reserves policy
The charitable company aims to keep sufficient reserves to cover a minimum of six months fixed costs, to enable us to grow the Festival in a secure way, to ensure that we have sufficient cash flow for the running of future festivals and generally to safeguard the future of the charitable company. At 31st December 2021 the charitable company had net funds of £125,565.
Page 1
PETWORTH FESTIVAL
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
FINANCIAL REVIEW
Risk review
The trustees are aware of their responsibility to review the risks to which the charitable company is exposed and regularly review these when planning the events. The trustees consider the main risks to be generating sufficient income to put on both the main festival and the literary festival and ensuring that sufficient surpluses are kept by the charitable company to safeguard the future of the festivals.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is incorporated as a limited company, limited by guarantee, as defined by the Companies Act 2006 and is governed by its Memorandum and Articles of Association.
Recruitment and training of new trustees
The charitable company seeks to recruit its trustees to balance various skills required to manage the charitable company. All new trustees are welcomed into the organisation and spend time meeting other trustees and other committee members to understand the operations of the charitable company. Training is, by necessity, tailored to individual needs depending on the knowledge gaps and experience of the individual involved.
Organisational structure
The trustees are responsible for the organisation and running of the charitable company, but delegate the running of the festival to the Festival Artistic Director.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 05710001 (England and Wales)
Registered Charity number 1113784
Registered office Wisteria House Market Square Petworth West Sussex GU28 0AJ
Trustees
Mr E A Bennie
Rt Hon Lord Egremont Mr N B Franks Mrs C E Golden (resigned 18.3.21) Rt Hon Sir G Pattie
Mrs K G Wardle (resigned 14.9.21) Mrs G A Willis
P Rhys-Evans (appointed 18.3.21) (resigned 13.1.22)
D J Rae (appointed 12.1.22)
Ms S Hamilton (appointed 12.1.22)
Page 2
PETWORTH FESTIVAL
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner James Angus Burnett ACA Martin and Company 25 St Thomas Street Winchester Hampshire S023 9HJ
Solicitors Anderson Rowntree Market Square Petworth GU28 OAJ
Bankers NatWest Market Square Petworth GU28 0AL Approved by order ofthe board of trustees on .........iceMAT Let Lang signed on its behalfby:
| seine(tauSSH RAINED
Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PETWORTH FESTIVAL
Independent examiner's report to the trustees of Petworth Festival (‘the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2021.
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 ofa listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of_ 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:
-
ly accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or Di. the accounts do not accord with those records; or 3y 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
-
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.
James AngusCen Martin and Company
25 St Thomas Street
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Winchester
Hampshire
$023 9HI r NG } oD
Date:_ 2
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Page 4
PETWORTH FESTIVAL
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2021
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|---|---|---|---|---|---|---|
|31,12,21|31.12.20|
|Unrestricted|Restricted|Total|Total|
|fund|funds|funds|funds|
|Notes|z|£|£|£|
|INCOME AND ENDOWMENTS FROM|
|Donations and|legacies|3|92,869|111,482|204,351|187,131|
|Charitable|activities|5|
|Festival|131,983|42,747|174,730|26,426|
|Investment|income|ze|18|.|18|364|
|Other|income|2,191|1,863|4,054|9,659|
|Total|227,061|156,092|383,153|223,580|
|EXPENDITURE ON|
|Raising|funds|6|9,675|163|9,838|9,321|
|Charitable|activities|7|
|Festival|207,311|211,373|418,684|223,138|
|Total|216,986|211,536|428,522|232,459|
|NET INCOME/(EXPENDITURE)|10,075|(55,444)|(45,369)|(8,879)|
|Transfers|between funds|18|(55,444)|55,444|-|-|
|Net movement|in|funds|(45,369)|-|(45,369)|(8,879)|
|RECONCILIATION|OF FUNDS|
|Total|funds brought|forward|170,934|s|170,934|179,813|
|TOTAL FUNDS CARRIED FORWARD|125,565|.|125,565|170,934|
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The notes form part of these financial statements
Page 5
PETWORTH FESTIVAL
BALANCE SHEET
31 DECEMBER 2021
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|---|---|---|---|---|---|---|
|a|a|a|legging|
|31.12.21|31.12.20|
|Unrestricted|Restricted|Total|Total|
|fund|funds|funds|funds|
|Notes|4|£|ES|£|
|FIXED ASSETS|
|Tangible|assets|15|5,012|-|5,012|7,730|
|CURRENT ASSETS|
|Debtors|16|4,435|“|4,435|5,923|
|Cash|at bank|126,305|-|126,305|168,415|
|130,740|.|130,740|174,338|
|CREDITORS|
|Amounts|falling due within one year|17|(10,187)|-|(10,187)|(11,134)|
|NET CURRENT ASSETS|120,553|-|120,553|163,204|
|TOTAL ASSETS LESS CURRENT LIABILITIES|125,565|-|125,565|170,934|
|NET ASSETS|125,565|-|125,565|170,934|
|FUNDS|18|
|Unrestricted funds|125,565|170,934|
|TOTAL FUNDS|125,565|170,934|
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The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.
-
The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
I Page 6 continued...
PETWORTH FESTIVAL
BALANCE SHEET - continued 31 DECEMBER 2021
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
“WA The financial statements were approved by the Board of Trustees and authorised for issue on Ne MAT ‘Lewaa were signed on its behalf by:
The notes form part of these financial statements
Page 7
PETWORTH FESTIVAL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
1, STATUTORY INFORMATION
The Petworth Festival is a private company limited by guarantee, registered in England and Wales. The company's registered number and registered office address can be found in the Report of the Trustees.
- 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.
Donations relate to the income received from patrons and sponsors of the festivals and are accounted for when received. When sponsorship is for a specific event it has been treated as restricted.
Where income received is to be allocated against future periods' expenses then this is deferred and shown within accrued expenses and advance receipts.
Income from charitable activities relates to ticket sales and is accounted for when the event has taken place.
Income from other trading activities is accounted for when it is received.
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.
Cost of raising funds comprise the costs relating to sponsorship and gifts from patrons of the charitable company.
Expenditure on charitable activities includes the costs related to staging the various shows that take place during the festival and literary festival and the sale of tickets.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Allocation and apportionment of costs
Support costs are those functions that assist the work of the charitable company, but do not directly undertake charitable activities. Support costs include those which are associated with meeting the constitutional and statutory requirements of the charitable company and administrative costs. These costs have been allocated between the cost of raising funds and charitable activities. Where these costs cannot be allocated directly the bases on which these support costs have been allocated are set out in note 9.
Page 8
continued...
PETWORTH FESTIVAL NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2021
2. ACCOUNTING POLICIES - continued
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 15% on reducing balance Online sales system - 50% on cost Computer equipment - 25% on cost
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.
3.
4,
| DONATIONSANDLEGACIES | ||
|---|---|---|
| 31.12.21 | 31.12.20 | |
| £ | £ | |
| Sponsorship | 146,487 | 128,280 |
| Gifts Grants |
28,314 6,500 |
33,636 1,250 |
| Gift aid recovered | 23,050 | 23,965 |
| 204,351 | 187,131 | |
| INVESTMENT INCOME | ||
| 31.12.21 | 31.12.20 | |
| £ | £ | |
| Interest | 18 | 364 |
Page 9
continued...
PETWORTH FESTIVAL
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2021
| 5. | INCOMEFROMCHARITABLE ACTIVITIES | INCOMEFROMCHARITABLE ACTIVITIES | ||||
|---|---|---|---|---|---|---|
| 31.12.21 | 31.12.20 | |||||
| Activity | £ | £ | ||||
| Ticket sales | Festival | 159,003 | 25,176 | |||
| Cushionhireproceeds | Festival | 298 | - | |||
| Sale of foodand drinks | Festival | 12,548 | - | |||
| Advertising | Festival | 1,000 | 1,000 | |||
| Salesofprogrammes& other | ||||||
| income | Festival | 1,881 | 250 | |||
| 174,730 | 26,426 | |||||
| 6. | RAISING FUNDS | |||||
| Raising donations and legacies | ||||||
| 31.12.21 | 31.12.20 | |||||
| £ | £ | |||||
| Support costs | 9,838 | 9,321 | ||||
| Te | CHARITABLE ACTIVITIES | COSTS | ||||
| Grant | ||||||
| fundingof | ||||||
| Direct | activities | Support | ||||
| Costs (see | (see note | costs (see | ||||
| note 8) | 9) | note 10) | Totals | |||
| Festival | £ 317,638 |
- 5,000 |
t; 96,046 |
£ 418,684 |
||
| 8. | DIRECT COSTSOFCHARITABLE ACTIVITIES | |||||
| 31.12.21 | 31.12.20 | |||||
| £ | £ | |||||
| Cost ofevents - Artists' costs | 112,185 | 45,842 | ||||
| Cost ofevents - Venues | 14,041 | 5,567 | ||||
| Costofevents -Equipment | 55,617 | 15,943 | ||||
| Costofevents - other costs | 56,625 | 23,202 | ||||
| Stagemanager | 21,000 | 20,156 | ||||
| Artistic director | 33,019 | 31,317 | ||||
| Advertising andpromotion | 11,784 | 4,146 | ||||
| Programmecosts | 1,190 | - | ||||
| Brochure costs | 6,462 | 1,017 | ||||
| Depreciation | 5,715 | 5,325 | ||||
| 317,638 | 152,515 |
Page 10
continued...
PETWORTH FESTIVAL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
9, GRANTS PAYABLE
Festival
The total grants paid to institutions during the year was as follows:
The Leconfield Halt
- SUPPORT COSTS Raising donations and legacies Festival
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31.12.21 31.12.20
£ £
5,000 -
31.12.21 31.12;20
£ £
5,000 -
Governance
Management costs Totals
£ £ £
9,838 . 9,838
93,296 2,750 96,046
103,134 2,750 105,884
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Basis of Allocation of support costs is as follows:
| Festivalmanager | Time |
|---|---|
| Festivalmanager assistant | Time |
| Telephone | Income |
| Postage and stationery | Direct |
| Website Sundries |
Income Direct |
| Bankcharges | Income |
Support costs, included in the above, are as follows:
Management
| Management | ||||
|---|---|---|---|---|
| 31.12.21 | 31.12.20 | |||
| Raising | ||||
| donations | ||||
| and legacies |
Festival | Total activities |
Total activities |
|
| £ | E | £ | £ | |
| Wages | - | 3,690 | 3,690 | - |
| Social security | a | 2,433 | 2,433 | 3,119 |
| Pensions | - | 1,478 | 1,478 | 1,470 |
| Festivalmanager | 1,895 | 34,481 | 36,376 | 34,316 |
| Insurance | - | 6,390 | 6,390 | 6,172 |
| Assistant festivalmanager | - | 21,628 | 21,628 | 14,979 |
| Telephone | 862 | 738 | 1,600 | 1,148 |
| Carriedforward | 2,757 | 70,838 | 73,595 | 61,204 |
Page 11
continued..,
PETWORTH FESTIVAL
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2021
10. SUPPORT COSTS- continued
Management - continued
11,
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||||||||
|---|---|---|---|---|---|---|
|31.12.21|31.12.20|
|Raising|
|donations|
|and|Total|Total|
|legacies|Festival|activities|activities|
|£|£|£|£|
|Brought forward|2,757|70,838|73,595|61,204|
|Postage|and|stationery|3,232|10,163|13,395|6,391|
|Website|837|715|1,552|1,564|
|Sundries|-|7,755|7,155|6,378|
|Bank charges|3,012|2S7S|5,587|1,907|
|Consultancy|-|1,250|1,250|-|
|9,838|93,296|103,134|77,444|
|Governance|costs|
|31.12.21|31.12.20|
|Total|
|Festival|activities|
|£|£|
|Independent|examiner's|fee|2,750|2,500|
|NET INCOME/(EXPENDITURE)|
|Net income/(expenditure)|is|stated|after|charging/(crediting):|
|31.12.21|31.12.20|
|£|£|
|Depreciation|- owned assets|5,714|5,325|
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- TRUSTEES' REMUNERATION AND BENEFITS
Mrs K Wardle was paid £29,489 (£34,316 in 2020) for assistance with the administration of the festival and accounts.
Page 12
continued...
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
15,
PETWORTH FESTIVAL
12. TRUSTEES' REMUNERATION AND BENEFITS - continued
Trustees’ expenses
Expenses totalling £5,366 (£4,820 in 2020) were reimbursed to 4 Trustees in the year. These expenses related to office and administration expenses incurred on behalf of the Charity.
- STAFF COSTS
The average monthly number of employees during the year was as follows:
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||||
|---|---|---|
|31.12.21|31.12.20|
|Festival management team|3|3|
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No employees received emoluments in excess of £60,000.
14, VOLUNTEERS
The charitable company benefits from many voluntary hours given by supporters and some goods and services are supplied at discounted rates. It is not possible to place a value on these gifts in kind.
TANGIBLE FIXED ASSETS
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||||||||
|---|---|---|---|---|---|---|
|Online|
|sales|Computer|
|Equipment|system|equipment|Totals|
|£|£|£|£|
|COST|
|At|1|January 2021|8,782|8,640|2,452|19,874|
|Additions|2,996|-|-|2,996|
|At 31|December 2021|11,778|8,640|2,452|22,870|
|DEPRECIATION|
|At|1|January 2021|6,562|4,320|1,262|12,144|
|Charge|for year|782|4,320|612|5,714|
|At 31|December 2021|7,344|8,640|1,874|17,858|
|NET BOOK VALUE|
|At|31|December 2021|4,434|-|578|§,012|
|At|31|December 2020|2,220|4,320|1,190|7,730|
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Page 13
continued...
PETWORTH FESTIVAL
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2021
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|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|16,|DEBTORS:|AMOUNTS FALLING DUE|WITHIN ONE YEAR|
|31.12.21|31.12.20|
|£|£|
|Prepayments|and accrued|income|4,435|5,923|
|17.|CREDITORS:|AMOUNTS FALLING DUE WITHIN ONE|YEAR|
|31.12.21|31.12.20|
|£|£|
|Social|security|and|other taxes|1,341|1,462|
|Other|creditors|466|112|
|Accrued expenses|8,380|9,560|
|10,187|11,134|
|18.|MOVEMENT|IN FUNDS|
|Net|Transfers|
|movement|between|At|
|At|1.1.21|in|funds|funds|31.1221|
|£|£|5|£|
|Unrestricted|funds|
|General fund|170,934|10,075|(55,444)|125,565|
|Restricted|funds|
|Literary|-|(55,444)|55,444|.|
|TOTAL FUNDS|170,934|(45,369)|-|125,565|
|Net movement|in|funds,|included|in|the|above|are|as|follows;|
|Incoming|Resources|Movement|
|resources|expended|in funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|227,061|(216,986)|10,075|
|Restricted|funds|
|Festival|80,995|(80,995)|-|
|Literary|75,097|(130,541)|(55,444)|
|156,092|(211,536)|(55,444)|
|TOTAL FUNDS|383,153|(428,522)|(45,369)|
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Page 14
continued...
PETWORTH FESTIVAL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
a
18. MOVEMENT IN FUNDS- continued
Comparatives for movement in funds
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||||||
|---|---|---|---|---|
|Net|Transfers|
|movement|between|At|
|At|1.1.20|in funds|funds|31.12.20|
|£|£|£|£|
|Unrestricted|funds|
|General fund|179,813|38,883|(47,762)|170,934|
|Restricted|funds|
|Literary|-|(47,762)|47,762|-|
|TOTAL FUNDS|179,813|(8,879)|-|170,934|
|Comparative net movement in funds,|included|in the above|are|as follows:|
|Incoming|Resources|Movement|
|resources|expended|in funds|
|£|£|£|
|Unrestricted|funds|
|General fund|134,852|(95,969)|38,883|
|Restricted|funds|
|Festival|49,016|(49,016)|-|
|Literary|39,712|(87,474)|(47,762)|
|88,728|(136,490)|(47,762)|
|TOTAL FUNDS|223,580|(232,459)|(8,879)|
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RESTRICTED FUNDS
Festival Donations received for a specific artist or show are allocated to the Restricted Fund. Expenditure relating to these artists or shows is allocated against this income.
Literary
Income and expenditure relating to the annual Literary Iestival held in the latter part ofeach year.
eeEE——EEeee Page 15 continued...
PETWORTH FESTIVAL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
19, RELATED PARTY DISCLOSURES
The charitable company paid Trustee insurance of £500.
Page 16
PETWORTH FESTIVAL
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| 31.12.21 | 31.1220 | |||
|---|---|---|---|---|
| Unrestricted funds |
Restricted funds |
Total funds |
Total funds |
|
| £ | £ | £ | £ | |
| INCOMEANDENDOWMENTS | ||||
| Donations and legacies | ||||
| Sponsorship Gifts |
39,893 28,314 |
106,594 . |
146,487 28,314 |
128,280 33,636 |
| Grants | 6,500 | - | 6,500 | 1,250 |
| Gift aid recovered | 18,162 | 4,888 | 23,050 | 23,965 |
| 92,869 | 111,482 | 204,351 | 187,131 | |
| Investment income | ||||
| Interest | 18 | . | 18 | 364 |
| Charitable activities | ||||
| Ticket sales | 118,885 | 40,118 | 159,003 | 25,176 |
| Cushionhireproceeds | 225 | 73 | 298 | - |
| Sale offoodanddrinks | 10,942 | 1,606 | 12,548 | - |
| Advertising | 1,000 | - | 1,000 | 1,000 |
| Salesofprogrammes& otherincome | 931 | 950 | 1,881 | 250 |
| 131,983 | 42,747 | 174,730 | 26,426 | |
| Other income | ||||
| Furlough receipts | 2,191 | 1,863 | 4,054 | 9,659 |
| Totalincoming resources | 227,061 | 156,092 | 383,153 | 223,580 |
| EXPENDITURE | ||||
| Charitable activities | ||||
| Cost ofevents - Artists' costs | 48,842 | 63,343 | 112,185 | 45,842 |
| Costofevents -Venues | 8,509 | 5,532 | 14,041 | 5,567 |
| Costofevents -Equipment | 44,092 | 11,525 | 55,617 | 15,943 |
| Cost ofevents - other costs | 4,589 | 52,036 | 56,625 | 23,202 |
| Stagemanager | 11,350 | 9,650 | 21,000 | 20,156 |
| Artistic director | 17,845 | 15,174 | 33,019 | 31317 |
| Advertising andpromotion | 9,581 | 2,203 | 11,784 | 4,146 |
| Programme costs | 1,190 | - | 1,190 | . |
| Brochure costs | 4,634 | 1,828 | 6,462 | 1,017 |
| Carriedforward | 150,632 | 161,291 | 311,923 | 147,190 |
This page does not form part of the statutory financial statements
Page 17
PETWORTH FESTIVAL
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
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||||||||
|---|---|---|---|---|---|---|
|31.12.21|31.12.20|
|Unrestricted|Restricted|Total|Total|
|funds|funds|funds|funds|
|£|£|£|£|
|Charitable|activities|
|Brought forward|150,632|161,291|311,923|147,190|
|Plant and machinery|782|-|782|392|
|Online|sales|system|4,320|-|4,320|4,320|
|Computer equipment|613|-|613|613|
|Grants|to|institutions|2,702|2,298|5,000|-|
|159,049|163,589|322,638|152,515|
|Support|costs|
|Management|
|Wages|1,994|1,696|3,690|-|
|Social|security|1,315|1,118|2,433|3,119|
|Pensions|798|680|1,478|1,470|
|Festival manager|19,659|16,717|36,376|34,316|
|Insurance|3,453|2,937|6,390|6,172|
|Assistant|festival manager|11,689|9,939|21,628|14,979|
|Telephone|865|735|1,600|1,148|
|Postage|and stationery|7,239|6,156|13,395|6,391|
|Website|1,552|-|1,552|1,564|
|Sundries|4,191|3,564|7,755|6,378|
|Bank charges|3,020|2,567|5,587|1,907|
|Consultancy|676|574|1,250|-|
|56,451|46,683|103,134|77,444|
|Governance|costs|
|Independent|examiner's|fee|1,486|1,264|2,750|2,500|
|Total resources expended|216,986|211,536|428,522|232,459|
|Net (expenditure)/income|10,075|(55,444)|(45,369)|(8,879)|
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This page does not form part of the statutory financial statements
Page 18