REGISTERED COMPANY NUMBER: 05976080 (England and Wales)
REGISTERED CHARITY NUMBER: 1117355
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021
FOR
RYEDALE FESTIVAL TRUST LIMITED
UHY Calvert Smith
Chartered Accountants
Heritage House
Murton Way
Osbaldwick
York
North Yorkshire
YO19 5UW
RYEDALE FESTIVAL TRUST LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021
|
Page |
Chairman's Report |
1 to 2 |
Report of the Trustees |
3 to 5 |
Independent Examiner's Report |
6 |
Statement of Financial Activities |
7 |
Balance Sheet |
8 to 9 |
Cash Flow Statement |
10 |
Notes to the Cash Flow Statement |
11 |
Notes to the Financial Statements |
12 to 20 |
Detailed Statement of Financial Activities |
21 to 22 |
RYEDALE FESTIVAL TRUST LIMITED
CHAIRMAN'S REPORT
FOR THE YEAR ENDED 31 AUGUST 2021
Impact of the Covid-19 pandemic
In the summerof 2021,ourfortiethyear,the Festivalsuccessfullynegotiatedthe obstaclesof the Covid-19 pandemic
tostagefortyconcertsandeventsin-person,toaudienceandcriticalacclaim.Centraltoourachievementwas the
inspired,can-doartisticleadershipofourArtisticDirector,ChrisGlynn,supportedbytheFestivalmanagement team
andoursuperbteam of volunteers.Throughoutthe year we alsocontinuedto bringoriginalmusicalperformances to
our supportersand the wider publicvia our popularonlineplatformRyeStream,launchedlast year in responseto the
pandemic.We devised,filmedandbroadcastover20 programmesin2020-21,makingthemavailableto appreciative
supporters via a mixture of pay for view and free to view.
Financial performance
DuringtheyeartheBoard'soverarchingfinancialaimwas,aslastyear,toprotectthefestival'sviability, maintain
employmentand safeguardthe financialsecurityof the staff, notablyby reducingcosts wherever possibleand making
appropriate use of the Government's furlough scheme.
Inevitably,the Festival'sfinancialperformancewas affectedadverselyby the continuingCovid-19pandemic. However
inthesecondhalf,despiteuncertaintyaroundprevailingandanticipatedGovernmentrestrictions,we employed
prudentandcreativeplanningtostageascaleddownsummerfestivalwherethesafetyandhealthof audiences,
artistsandstaffwasparamount.Althoughincomefromticketsaleswasthereforegreaterthan2020,whenit was
impossibleto stage live music, it was still significantlylower than in a normalyear.However,by applyingour policy of
keepingticketsalesinlinewithartists'costs,wemetourtargetofasmalloperatingsurplusinlinewithbudget. In
addition, we carried forward reserves ahead of the Board's published target of £200k.
TheFestivalisverygratefultoitsdonors,sponsors,publicfunders,notablyArtsCouncilEngland,supporters and
audiencesfortheircontinuedloyaltyandsupportwhichhavegivenusthefinancialstabilityandtheconfidence to
weatherthe storm and plan for the future.However,there is no room for complacency,and the trusteesand staff are
ever mindful of the critical importance of maintaining the trust and confidence of key stakeholders in the years ahead.
Governance
An energeticBoardof Trustees,supportedby the Finance,Fundraisingand Nominationscommittees,continuedto be
thehubofourgovernanceandtheforumforourpolicyresponsetothepandemic,totrusteesuccessionand to
strategic planning.
WelaunchedaBoardreviewofgovernance,focusingontheFestival'ssuiteofpolicies,undertheguidanceof a
designatedtrustee.It is due to be completedduringthe currentfinancialyear. The Board continuedto consider issues
of diversity and sustainability at each trustee meeting.
The yearsaw the plannedretirementof threehighlyvaluedtrusteeswho hadcompletedor,by agreement, exceeded
theirsix-yearterms.TheNominationscommittee,whichisfocusedbothonseekingothersinterestedinserving the
Festivalandencouragingdiversity,is taskedwithbringingforwarda pipelineof candidates.Two strong appointments
have been made since the year end and further appointments are in prospect.
Staff and volunteers
TheFestivalcanonlysucceedthroughtheinvaluablecontributionandcontinuedprofessionalismofitsstaff and
volunteerswhoagainshowedcommendableflexibility,ingenuityandresiliencethroughaverydifficultyear. The
Festivalcouldnothavegoneaheadwithouttheirastonishingamountofextraworktoprotectouraudiences and
artists.
-1-
RYEDALE FESTIVAL TRUST LIMITED
CHAIRMAN'S REPORT
FOR THE YEAR ENDED 31 AUGUST 2021
Awards and recognition
Thefestivalcontinuestomaintainanimpressiveprofileinboththenationalandlocalpress,with overwhelmingly
favourablereactiontobothourin-personandonlineevents.Forexample,therespectedsiteArtsDeskreviewed our
Springonlineprogrammesaying,'RyeStreamisanexpertlycuratedandcraftedonlinefestival'andreturned to
acknowledgethatourin-personsummer festival'onceagainbroughtlive music of the highestqualityto the beautiful
villages and venues of Yorkshire.' We were also named as Best Festival in the Northern Enterprise Awards.
Outlook
Withthecontinuedbackingofourvalueddonorsandsupporters,weexpectourstrongunderlying financial
performance to continue in the current year and beyond.
Asweemergefromthepandemic,theFestivalwithastrongnewmanagementteam,isingoodshapewith exciting
plansin prospect.We willcontinueto bringtop-levelartiststo performin a localandruralcontext,butalso, through
ouronlineplatform,toreacha globalaudience,whilstalsocreatingparticipationopportunitiesforhundredsof local
people.
Geoff Potter
Chairman
29.1.22
-2-
RYEDALE FESTIVAL TRUST LIMITED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 AUGUST 2021
TheTrustees,whoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheir report
with the financial statements of the charity for the year ended 31 August 2021.
The charity is also known as The Ryedale Festival.
OBJECTIVES AND ACTIVITIES
Objectives and aims
Thecharity'sobjectivesaretopromote,improve,developandmaintainpubliceducationin,andappreciationof, the
art and science of music, drama and the performingarts in all their aspects by the presentationof publicconcerts and
recitals and by such other ways as the charity through its committee shall determine from time to time.
Wereviewouraims,objectivesandactivitiesineachfinancialperiod.Thereviewlooksatwhatwe haveachieved in
thepreviousfinancialperiod.Thereviewlooksatthesuccessofeachactivityandthebenefitstheyhavebrought to
thosepeoplewe aimtohelpandhelpsus toensureouraims,objectivesandactivitiesremainfocusedonour stated
purpose.WehavereferredtotheguidanceintheCharityCommission'sgeneralguidanceonpublicbenefit when
reviewing our objectives and aims in planning future activities.
Allcharitableactivitiesfocusonachievingtheaimsstatedaboveandareundertakentofurtherthe charitable
purposesfor the publicbenefit.The Trusteeshave had due regardto guidancepublishedby the Charities Commission
on public benefit.
Volunteers are vital in assisting with the income generating activities of the Charity.
ACHIEVEMENT AND PERFORMANCE
The achievements in the year are explained in detail in the Chairman's Report.
Budgetarycontrolisusedtomeasureoverallfinancialperformanceandkeyperformanceindicatorsinclude overall
ticket sales incomefor the year as a measure of changes in audiencenumbers and levels of subscriptionincome from
Patrons, Members and Friends indicating continuing core support.
FINANCIAL REVIEW
Investment policy and objectives
As partof thetransferof assetsfromtheTrusttotheRyedaleFestivalTrustLimited,it was a conditionof HSBC Bank
thattheinvestmentportfoliomanagedbyHSBCbeliquidatedasitcouldnotbeheldinthatformbya limited
company. As a consequence, the Board agreed to hold funds in a selection of cash deposit accounts.
Reserves policy
TheCompany'sReservespolicyistoaimtobuildupreservestoalevelwhichmeetstheFestivaleventcostsfor the
forthcomingFestivalandalsotoenableanorderlywindingdownoftheFestivalshouldtheBoarddecideon that
action at any time in the Festival's year. The target figure is £200,000 which was attained in 2020.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Ryedale Festival Trust Limited is a charitablecompanylimited by guaranteegovernedby its Memorandumand Articles
of Association. It is registered with the Charity Commission.
-3-
RYEDALE FESTIVAL TRUST LIMITED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 AUGUST 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT
Recruitment and appointment of new trustees
AllTrusteesareappointedfora fixedtermof threeyears.At theexpiryof theirFirstThreeYearTerm,a Trustee may
be appointedfora secondfixedterm of threeyears.At the expiryof theirSecondThreeYearTerm a Trusteeshall be
requiredtostanddownfromofficeforaperiodofatleastoneyearfromtheendoftheirSecondThreeYear Term
beforetheycanstandforreappointmentunlesstheTrusteesresolvethatbecauseofexceptionalcircumstances a
Trustee may be reappointed for a third, and final, fixed three year term.
The Trusteesmay at any time appointa new Trusteeto fill a casualvacancyand the term of officeof the new Trustee
so appointedshallcontinueto thenextAnnualGeneralMeetingheldaftertheexpiryof a periodof threeyears after
the appointment of the new Trustee to the casual vacancy.
New Trustees are appointedby majorityvoting.The chairmanis entitledto a second vote shouldan equalityof shares
occur.
Organisational structure
The charity is organised as an independent festival, which is managed by a Board of Trustees.
The Festivalappointsan ArtisticDirector,whose role entailsdesigninga programmeof events,whichis agreedby the
BoardofTrustees,andalsomanagingtheeventsduringtheFestival.ThestaffinglevelstoassisttheArtistic Director
are agreed with the Board.
The Chairman, Mr G Potter, deals with the day to day matters of the charity.
TheFestival'sactivitiesaregearedtowardsthetwotothreeweekperiodoftheactualconcertsandevents which
make up The Ryedale Festival.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
05976080 (England and Wales)
Registered Charity number
1117355
Registered office
The Memorial Hall
Potter Hill
Pickering
North Yorkshire
YO18 8AA
-4-
RYEDALE FESTIVAL TRUST LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021
Trustees
Reverend T J Robinson (resigned 23/11/2020)
Dr R J Shephard (resigned 14/9/2020)
M L Byrne Hill
R Cooke (resigned 18/6/2021)
G Potter
G Simpson
J G Chisholm
F Horsfield (resigned 18/6/2021)
E J S Anderson
E S Cleobury
A R H Grace (appointed 14/9/2020)
A J Snell
During the year the company paid £1,084 (2020: £701) in respect of Trustee Indemnity Insurance.
Independent Examiner
UHY Calvert Smith
Chartered Accountants
Heritage House
Murton Way
Osbaldwick
York
North Yorkshire
YO19 5UW
Bankers
HSBC
27 Market Place
Malton
North Yorkshire
YO17 7LU
Solicitors
Mr J Lane
C\o Rollits Solicitors
Rowntree Wharf
Navigation Road
York
North Yorkshire
YO1 9WE
This reporthas been preparedin accordancewith the specialprovisionsof Part 15 of the CompaniesAct 2006 relating
to small companies.
Approved by order of the board of trustees on 29 March 2022 and signed on its behalf by:
G Potter - Trustee
-5-
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
RYEDALE FESTIVAL TRUST LIMITED
Independent examiner's report to the trustees of Ryedale Festival Trust Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2021.
Responsibilities and basis of report
As the charity'strusteesof the Company(andalsoits directorsfor the purposesof companylaw)youare responsible
for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfiedmyself that the accountsof the Companyare not requiredto be auditedunder Part 16 of the 2006 Act
andareeligibleforindependentexamination,Ireportinrespectofmyexaminationofyourcharity'saccounts as
carriedoutundersection145oftheCharitiesAct2011('the2011Act').IncarryingoutmyexaminationI have
followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since yourcharity'sgross incomeexceeded£250,000yourexaminermust be a member of a listedbody.I can confirm
thatIamqualifiedtoundertaketheexaminationbecauseIamaregisteredmemberofICAEWwhichisoneof the
listed bodies.
Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnectionwith the
examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. 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
4. 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)).
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhich attention
should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
N Pearce
ICAEW
UHY Calvert Smith
Chartered Accountants
Heritage House
Murton Way
Osbaldwick
York
North Yorkshire
YO19 5UW
30 March 2022
-6-
RYEDALE FESTIVAL TRUST LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2021
Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
111,732
Charitable activities
5
Festival events
183,771
Other trading activities
3
12,083
Investment income
4
143
Total
307,729
EXPENDITURE ON
Raising funds
6
3,621
Charitable activities
7
Festival events
270,119
Total
273,740
Net gains on investments
743
NET INCOME
34,732
RECONCILIATION OF FUNDS
Total funds brought forward
201,754
TOTAL FUNDS CARRIED FORWARD
236,486 |
Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
- |
2021
Total
funds
£
111,732
183,771
12,083
143
307,729
3,621
270,119
273,740
743
34,732
201,754
236,486 |
2020
Total
funds
£
112,093
125,971
14,133
257 |
|
|
|
252,454
8,656
127,483 |
|
|
|
136,139
91 |
|
|
|
116,406
85,348 |
|
|
|
201,754 |
The notes form part of these financial statements
-7-
RYEDALE FESTIVAL TRUST LIMITED
BALANCE SHEET 31 AUGUST 2021
Notes
FIXED ASSETS
Tangible assets
14
CURRENT ASSETS
Debtors
15
Investments
16
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
17
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
19
Unrestricted funds
TOTAL FUNDS |
2021
£
432
27,063
4,935
272,161
304,159
(68,105)
236,054
236,486
236,486
236,486
236,486 |
2020
£
2,407
17,050
4,192
190,667
211,909
(12,562)
199,347
201,754
201,754
201,754
201,754 |
|
|
|
The charitablecompanyis entitledto exemptionfrom audit under Section477 of the CompaniesAct 2006 for the year
ended 31 August 2021.
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended
31 August 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
continued...
-8-
RYEDALE FESTIVAL TRUST LIMITED
BALANCE SHEET - continued
31 AUGUST 2021
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitable companies
subject to the small companies regime.
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon29March2022 and
were signed on its behalf by:
G Potter - Trustee
J G Chisholm - Trustee
The notes form part of these financial statements
-9-
RYEDALE FESTIVAL TRUST LIMITED
CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2021
Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Net cash (used in)/provided by investing activities
Change in cash and cash equivalents in the
reporting period
Cash and cash equivalents at the beginning
of the reporting period
Cash and cash equivalents at the end of
the reporting period |
2021
£
81,759
81,759
(408)
143
(265)
81,494
190,667
272,161 |
2020
£
96,853 |
|
|
96,853 |
|
|
-
257 |
|
|
257 |
|
|
|
|
|
97,110
93,557 |
|
|
190,667 |
The notes form part of these financial statements
-10-
RYEDALE FESTIVAL TRUST LIMITED
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2021
1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
|
|
|
|
2021 |
2020 |
|
|
|
|
£ |
£ |
|
Net income for the reporting period (as per the Statement of Financial |
|
|
|
|
|
Activities) |
|
|
34,732 |
116,406 |
|
Adjustments for: |
|
|
|
|
|
Depreciation charges |
|
|
2,383 |
2,301 |
|
Gain on investments |
|
|
(743) |
(91) |
|
Interest received |
|
|
(143) |
(257) |
|
(Increase)/decrease in debtors |
|
|
(10,013) |
20,699 |
|
Increase/(decrease) in creditors |
|
|
55,543 |
(42,205) |
|
Net cash provided by operations |
|
|
81,759 |
96,853 |
2. |
ANALYSIS OF CHANGES IN NET FUNDS |
|
|
|
|
|
|
At 1/9/20 |
|
Cash flow |
At 31/8/21 |
|
|
|
£ |
£ |
£ |
|
Net cash |
|
|
|
|
|
Cash at bank and in hand |
190,667 |
|
81,494 |
272,161 |
|
|
190,667 |
|
81,494 |
272,161 |
|
Liquid resources |
|
|
|
|
|
Deposits included in cash |
|
- |
- |
- |
|
Current asset investments |
|
4,192 |
743 |
4,935 |
|
|
|
4,192 |
743 |
4,935 |
|
Total |
194,859 |
|
82,237 |
277,096 |
The notes form part of these financial statements
-11-
RYEDALE FESTIVAL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financialstatementsof the charitablecompany,whichis a publicbenefitentityunderFRS 102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities: Statement
ofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
ReportingStandardapplicablein the UK and Republicof Ireland(FRS 102) (effective1 January2019)', Financial
ReportingStandard102 'The FinancialReportingStandardapplicablein the UK and Republicof Ireland'and the
Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All incomeis recognisedin the Statementof FinancialActivitiesoncethe charityhasentitlementto the funds,
it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredin settlement
andtheamountof theobligationcanbe measuredreliably.Expenditureis accountedforonanaccruals basis
andhas been classifiedunderheadingsthataggregateall costrelatedto the category.Wherecostscannot be
directlyattributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwith the
use of resources.
Raising funds
Raisingfundsincludesallexpenditureincurredbythecharitytoraisefundsforitscharitablepurposes and
includes costs of all fundraising activities, events and non-charitable trading.
Charitable activities
Festival event costs - These are costs of staging the productions.
Support costs - These are costs of keeping the charity running.
Tangible fixed assets
Tangiblefixed assets are includedat cost. Items of equipmentare capitalisedwhen the purchaseprice exceeds
£100. Depreciation is provided at the following annual rates in order to write off each asset over
its estimated useful life:
|
Rate |
Method |
|
------- |
------------ |
Office equipment |
20% |
Straight line |
Computers |
50% |
Straight line |
Taxation
Thecompanyisacceptedasacharityfortaxpurposesandisexemptfromtaxonitsincomeorgainsto the
extent that they are applied for charitable purposes.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees.
Restrictedfundsaretobeusedforspecificpurposeslaiddownbythedonor.Expenditurewhichmeets this
criteria is identified to the fund.
Designatedfundsare to be used for specificpurposesbutthereis no legalobligationon the charityto use the
funds in this way.
continued...
-12-
RYEDALE FESTIVAL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2021
1. ACCOUNTING POLICIES - continued
Foreign currencies
Assetsandliabilitiesinforeigncurrenciesaretranslatedintosterlingattheratesofexchangerulingat the
balancesheetdate.Transactionsinforeigncurrenciesaretranslatedintosterlingattherateof exchange
rulingatthedateoftransaction.Exchangedifferencesaretakenintoaccountinarrivingatthe operating
result.
Hire purchase and leasing commitments
Rentalspaidunderoperatingleases are chargedto the Statementof FinancialActivitieson a straightline basis
over the period of the lease.
Investments
Investmentsare revaluedto marketvalueat the balancesheet date.Realisedandunrealisedgainsand losses
are included in the Statement of Financial Activities and in the net movement of funds for the year.
Government Grants
Governmentgrants,includingthosereceivedvia the CoronavirusJobRetentionScheme,are recognisedin the
StatementofFinancialActivitiesoncethecharityhasentitlementtothefunds,itisprobablethatthe income
will be received and the amount can be measured reliably.
2. DONATIONS AND LEGACIES
3.
4.
DONATIONS AND LEGACIES |
|
|
|
Donations
OTHER TRADING ACTIVITIES
Sponsorship and advertising
INVESTMENT INCOME
Investment income |
2021
£
111,732
2021
£
12,083
2021
£
143 |
2020
£
112,093 |
|
|
|
|
2020
£
14,133 |
|
|
|
2020
£
257 |
continued...
-13-
RYEDALE FESTIVAL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2021
5. INCOME FROM CHARITABLE ACTIVITIES
Activity
Ticket and programme sales
Festival events
Subscriptions
Festival events
Theatre tax credit
Festival events
Grants
Festival events
Grants received, included in the above, are as follows:
Arts Council Yorkshire
The Holbeck Charitable Trust
Coronavirus Job Retention Scheme
Local Restrictions Support Grant
6.
RAISING FUNDS
Raising donations and legacies
Members' dinner
Promotional printing
Support costs
7.
CHARITABLE ACTIVITIES COSTS
Direct
Costs
£
Festival events
129,917 |
2021
£
69,128
39,933
2,372
72,338
183,771
2021
£
47,370
20,000
4,968
-
72,338
2021
£
(200)
2,928
893
3,621
Support
costs (see
note 8)
£
140,202 |
2020
£
5,349
39,759
-
80,863 |
2020
£
5,349
39,759
-
80,863 |
|
|
125,971 |
|
|
|
2020
£
35,000
30,000
5,863
10,000
80,863
2020
£
4,268
4,388
-
8,656
Totals
£
270,119 |
2020
£
35,000
30,000
5,863
10,000 |
|
|
|
80,863 |
continued...
-14-
RYEDALE FESTIVAL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2021
8. SUPPORT COSTS
SUPPORT COSTS |
|
Management
Depreciation
£
£
Raising donations and legacies
893
-
Festival events
137,819
2,383
138,712
2,383 |
Totals
£
893
140,202 |
|
141,095 |
9. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
|
2021 |
2020 |
|
£ |
£ |
Depreciation - owned assets |
2,383 |
2,301 |
Other operating leases |
3,058 |
2,916 |
Independent examiner's fee |
2,000 |
2,000 |
10. TRUSTEES' REMUNERATION AND BENEFITS
There were no Trustees' remunerationor other benefits for the year ended 31 August 2021 nor the year ended
31 August 2020.
Trustees' expenses
Trustees' expenses |
|
|
|
|
2021 |
|
2020 |
|
£ |
|
£ |
Trustees' expenses |
|
- |
608 |
Expenses totalling £Nil (2020: £608) were reimbursed to the Trustees (2020: one Trustee) during the year.
11. STAFF COSTS
The average monthly number of employees during the year was as follows:
|
2021 |
2020 |
Management and administration |
5 |
5 |
No employees received emoluments in excess of £60,000.
continued...
-15-
RYEDALE FESTIVAL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2021
12. INTANGIBLE INCOME
Includedindonationsis£300(2020:£nil)ofintangibleincomefordonatedservicescomprising hospitality
£300 (2020:£nil).
13. DEFERRED SUBSCRIPTIONS
During2021£167(2020:£1,417)of subscriptionsdeferredinpreviousyearswere releasedtoincomeand the
balance of £Nil (2020: £167) was carried forward as deferred income.
Thisyear£52,967of grantsrelatingtotheprovisionof futureeventsandserviceswere receivedand included
within deferred income on the balance sheet.
14. TANGIBLE FIXED ASSETS
14.
TANGIBLE FIXED ASSETS |
|
Plant and
Computer
machinery
equipment
£
£
COST
At 1 September 2020
10,117
3,670
Additions
-
408
At 31 August 2021
10,117
4,078
DEPRECIATION
At 1 September 2020
8,227
3,153
Charge for year
1,672
711
At 31 August 2021
9,899
3,864
NET BOOK VALUE
At 31 August 2021
218
214
At 31 August 2020
1,890
517
15.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021
£
Trade debtors
6,570
VAT
11,525
Prepayments and accrued income
8,968
27,063 |
Totals
£
13,787
408 |
|
14,195 |
|
11,380
2,383 |
|
13,763 |
|
432 |
|
2,407 |
|
2020
£
11,370
-
5,680 |
|
17,050 |
continued...
-16-
RYEDALE FESTIVAL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2021
16. CURRENT ASSET INVESTMENTS
17. |
UK Quoted investment |
|
|
|
|
2021 |
2020 |
|
|
£ |
£ |
|
Market value at 1 September 2020 |
4,192 |
4,101 |
|
Net unrealised gain/ (loss) on revaluation |
743 |
91 |
|
Sales proceeds |
- |
- |
|
|
|
|
|
Market value at 31 August 2021 |
4,935 |
4,192 |
|
|
|
|
|
|
|
|
|
Historic cost |
2,800 |
2,800 |
|
|
|
|
|
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
VAT
Other creditors
Accruals and deferred income |
2021
£
13,232
1,507
-
399
52,967
68,105 |
2020
£
9,853
1,074
1,013
260
362
12,562 |
18. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
fund
£
Fixed assets
432
Current assets
304,159
Current liabilities
(68,105)
236,486 |
Restricted
funds
£
-
-
-
- |
2021
Total
funds
£
432
304,159
(68,105)
236,486 |
2020
Total
funds
£
2,407
211,909
(12,562)
201,754 |
|
|
|
|
continued...
-17-
RYEDALE FESTIVAL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2021
19. MOVEMENT IN FUNDS
Unrestricted funds
General fund
TOTAL FUNDS
Net movement in funds, included in the above are a
Unrestricted funds
General fund
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
TOTAL FUNDS |
s follows:
Incoming
resources
£
307,729
307,729 |
At 1/9/20
£
201,754
201,754
Resources
expended
£
(273,740)
(273,740)
At 1/9/19
£
85,348
85,348 |
Net
movement
At
in funds
31/8/21
£
£
34,732
236,486
34,732
236,486
Gains and
Movement
losses
in funds
£
£
743
34,732
743
34,732
Net
movement
At
in funds
31/8/20
£
£
116,406
201,754
116,406
201,754 |
|
|
|
|
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
Incoming
resources
£
252,454
252,454 |
Resources
expended
£
(136,139)
(136,139) |
Gains and
Movement
losses
in funds
£
£
91
116,406
91
116,406 |
|
|
|
|
continued...
-18-
RYEDALE FESTIVAL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2021
19. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
At 1/9/19
£
85,348
85,348 |
Net
movement
in funds
£
151,138
151,138 |
At
31/8/21
£
236,486 |
|
|
|
236,486 |
A currentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedinthe above
are as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
Incoming
resources
£
560,183
560,183 |
Resources
expended
£
(409,879)
(409,879) |
Gains and
Movement
losses
in funds
£
£
834
151,138
834
151,138 |
|
|
|
|
20. CONTINGENT LIABILITIES
There were no known contingent liabilities as at 31 August 2021 or 31 August 2020.
21. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2021.
22. ULTIMATE CONTROLLING PARTY
Due to the diverse membership of the company, no one person controls the company.
continued...
-19-
RYEDALE FESTIVAL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2021
23. STATUS
The companyis limitedby guaranteeso has no share capital.In the event of a windingup of the company, the
liability of the members is limited to £10 each.
24. THEATRE TAX RELIEF
AfterthebalancesheetdatetheTrusteesmadeaclaimforTheatreTaxRelieftotalling£18,203forthe five
years ended 31 August2019. An amountof £2,372was receivedpost year end in respectof the year ended 31
August2019.Thisamounthasbeenincludedwithinthestatementoffinancialactivities.Noprovision has
beenmadefortheremainingclaimsbecausetheTrusteesconsideritprudentnottorecognisethe income
until HM Revenue & Customs have agreed the claims.
-20-
RYEDALE FESTIVAL TRUST LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2021
INCOME AND ENDOWMENTS
Donations and legacies
Donations
Other trading activities
Sponsorship and advertising
Investment income
Investment income
Charitable activities
Ticket and programme sales
Subscriptions
Theatre tax credit
Grants
Total incoming resources
EXPENDITURE
Raising donations and legacies
Members' dinner
Promotional printing
Charitable activities
Technical team's fees and expenses
Performers' fees
Cost of venues and staging
Support costs
Management
Trustees' expenses
Rent
Insurance
Office & Administration employment costs and
expenses
Telephone
Carried forward |
2021
£
111,732
12,083
143
69,128
39,933
2,372
72,338
183,771
307,729
(200)
2,928
2,728
8,800
88,960
32,157
129,917
-
3,058
4,735
40,063
683
48,539 |
2020
£
112,093
14,133
257
5,349
39,759
-
80,863 |
|
|
125,971 |
|
|
252,454
4,268
4,388 |
|
|
8,656
319
9,880
3,947 |
|
|
14,146
608
2,916
4,403
31,125
690
39,742 |
This page does not form part of the statutory financial statements
-21-
RYEDALE FESTIVAL TRUST LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2021
Management
Brought forward
Postage and stationery
Advertising
Sundries
Irrecoverable VAT
Bank charges and interest
Artistic Director's & Producer's employment
costs and expenses
Friends and Soh Fah costs
Independent examiner's fees
Website costs
Computer software
Fundraising fees
Professional fees
Depreciation
Depreciation of plant and equipment
Depreciation of computer equipment
Total resources expended
Net income |
2021
£
48,539
3,032
8,515
819
(4,595)
1,585
56,763
1,052
2,000
9,094
270
-
11,638
138,712
1,672
711
2,383
273,740
33,989 |
2020
£
39,742
2,635
3,534
436
(6,547)
1,450
56,832
1,410
2,000
8,180
489
875
-
111,036
1,672
629
2,301
136,139
116,315 |
|
|
|
This page does not form part of the statutory financial statements
-22-