```
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-
```