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2022-08-31-accounts

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 2022

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 2022

Page
Chairman's Report 1 to 2
Report of the Trustees 3 to 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9 to 10
Cash Flow Statement 11
Notes to the Cash Flow Statement 12
Notes to the Financial Statements 13 to 21

RYEDALE FESTIVAL TRUST LIMITED

CHAIRMAN'S REPORT FOR THE YEAR ENDED 31 AUGUST 2022

Under the inspired direction of our Artistic Director Christopher Glynn, the Festival yet again achieved outstanding artistic and reputational success in 2022.

For the summer festival in July, we staged 52 events in 28 venues across North Yorkshire featuring exhilarating appearances by some of the world's greats including Dame Janet Baker, Stephen Kovacevich and Roderick Williams. Alongside them were performances by exceptional young artists such as the Kanneh-Mason family and the National Youth Choir of Great Britain.

Many of the events were sell-outs and feedback from our audiences, members, and artists, as well as in the media, was overwhelmingly positive, exemplified by just one of many encouraging messages received from supporters;

"Warmest thanks for another magnificent festival. In our view it exceeded even the high standards of previous years and is going from strength to strength."

As an uplifting prelude to our summer programme, in May we staged the world premiere of a Community Song Cycle "Seven Mercies" inspired by the famous murals of Pickering Church, staged there in partnership with the Richard Shephard Music Foundation. The local community praised a moving celebration of local heritage and talent, including a children's choir drawn from three Pickering primary schools.

Financial performance

After two years of major disruption, 2022 represented a transition year as the Festival worked to restore the scale, income and audience experience enjoyed before Covid.

Ticket sales were strong but financial performance continued to be adversely affected by the pandemic's long-term effects, which hindered our ability to open up new fundraising channels and meant that many of our funding applications were submitted later in the planning cycle than usual. In particular, we were disappointed not to receive Arts Council England funding for the first time in several years.

The result was that despite generous support by several long-term donors, we incurred a deficit for the year. This was met from reserves, successfully built up as Board policy over the last three years. The Trustees have agreed a 2022-2023 budget, and have approved initiatives to build the festival's fundraising capacity over time.

Governance

Over the last five years the Board has progressively strengthened the festival's governance and controls. The review of its suite of policies, highlighted in my last Statement, was paused as the new Management team settled in and is now due to be completed by March 2023. Meanwhile a new policy on cyber security and a risk register have been prioritised and approved by the Board.

The year saw the planned retirement of two highly valued trustees who had completed their extended terms. Our Hon Treasurer of seven years, John Chisholm, has been succeeded by Helen Dobson, former Finance Director of Opera North. Martha Byrne Hill, with eight years' service, has been succeeded as Chair of the Nominations committee by Alison Snell. We welcomed to the Board two new trustees, Annette Beaumont Ellis and the Revd Canon Dr Victoria Johnson.

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RYEDALE FESTIVAL TRUST LIMITED

CHAIRMAN'S REPORT FOR THE YEAR ENDED 31 AUGUST 2022

Staff and volunteers

The newly established management team, led by our new General Manager, Dr Stewart Campbell, is making a strong impact. The team is at the heart of a finely tuned network synchronising the contributions of many dedicated groups and individuals, without whose support and enthusiasm the festival would simply not be possible. Our tireless and committed volunteers and trustees; our highly valued Patrons, Members, and Friends; our generous donors and sponsors and honorary advisors; the hosts who allow access to such superb venues; the phenomenal artists and, of course, our loyal audiences.

Awards and recognition

During the year the Festival was praised by the Guardian for its 'soaring ambition' and 'real flair'. In a review of 'Seven Mercies' a respected local critic described the performance as "underlining what a force for good the Ryedale Festival continues to be".

The Festival was shortlisted for a Royal Philharmonic Society Award for 'Best Series', commending the Festival's approach to reframe its presence in the local community, which captivated audiences and attracted large numbers of first-time attendees.

Outlook

The Festival remains committed to its core mission of bringing great music and the spoken word to beautiful places in Ryedale and beyond. We are grateful to our donors, sponsors and subscribers for their continued generosity which makes this possible. Our ambitious plans for the next few years include continuing with our celebrated young artist programme, which creates opportunities for artists in the early stages of their careers; expansion of our work with schools and the community; and our RyeStream online channel which will continue showcasing the Festival and indeed the beauties of Ryedale and its environs, to the world.

Geoff Potter Chairman 23 May 2023

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RYEDALE FESTIVAL TRUST LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022

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 August 2022.

The charity is also known as The Ryedale Festival.

OBJECTIVES AND ACTIVITIES

Objectives and aims

The charity's objectives are to promote, improve, develop and maintain public education in, and appreciation of, the art and science of music, drama and the performing arts in all their aspects by the presentation of public concerts and recitals and by such other ways as the charity through its committee shall determine from time to time.

We review our aims, objectives and activities in each financial period. The review looks at what we have achieved in the previous financial period. The review looks at the success of each activity and the benefits they have brought to those people we aim to help and helps us to ensure our aims, objectives and activities remain focused on our stated purpose. We have referred to the guidance in the Charity Commission's general guidance on public benefit when reviewing our objectives and aims in planning future activities.

All charitable activities focus on achieving the aims stated above and are undertaken to further the charitable purposes for the public benefit. The Trustees have had due regard to guidance published by the Charities Commission on public benefit.

Volunteers are vital in assisting with the income generating activities of the Charity.

ACHIEVEMENT AND PERFORMANCE

In addition to the achievements that are explained in the Chairman's Report, a number of performance indicators were met this year, demonstrating the scope and reach of our work and the impact of the Festival more broadly:

AUDIENCE:

8,363 tickets were purchased this year including 3,616 by first time bookers 120 pieces of press (print and radio)

19,782 people streamed content on the Festival's online platform 'RyeStream', from 15 different countries around the world

MAKERS:

288 people subscribed to our membership scheme 233 people made donations towards the Festival 81 people volunteered to support the Festival

CREATORS:

687 performed in 52 events Performances took part in 28 different venues across North Yorkshire

115 children and young people participated in performances and workshops

FINANCIAL REVIEW

Investment policy and objectives

The Board holds excess funds in a selection of interest-bearing cash deposit accounts. Current holdings will be reviewed to optimise investment returns in an accessible form consistent with the operating needs of the Company accounts.

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RYEDALE FESTIVAL TRUST LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022

FINANCIAL REVIEW

Reserves policy

The Company's Reserves policy has been to aim to build up reserves to a level which meets the Festival event costs for the forthcoming Festival and also to enable an orderly winding down of the Festival should the Board decide on that action at any time in the Festival's year. The target figure was £200,000. The Board has agreed to review this policy in 2023 in light of the current financial climate and structural and contractual obligations of the Festival.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Ryedale Festival Trust Limited is a charitable company limited by guarantee governed by its Memorandum and Articles of Association. It is registered with the Charity Commission.

Recruitment and appointment of new trustees

There shall be at least three Trustees and the maximum number of Trustees shall be twelve.

All Trustees are appointed for a fixed term of three years. At the expiry of their First Three Year Term, a Trustee may be appointed for a second fixed term of three years. At the expiry of their Second Three Year Term a Trustee shall be required to stand down from office for a period of at least one year from the end of their Second Three Year Term before they can stand for reappointment unless the Trustees resolve that because of exceptional circumstances a Trustee may be reappointed for a third, and final, fixed three year term.

The Trustees may at any time appoint a new Trustee to fill a casual vacancy and the term of office of the new Trustee so appointed shall continue to the next Annual General Meeting held after the expiry of a period of three years after the appointment of the new Trustee to the casual vacancy.

Organisational structure

The charity is organised as an independent festival, under the overall control of a Board of Trustees.

The Board appoints an Artistic Director, whose role is to provide artistic and strategic leadership for the Festival.

A General Manager leads a dedicated team of staff and volunteers and manages all operational aspects of the festival.

The festival’s activities are geared towards the two-week Summer Festival period, but also encompass a Spring Festival and standalone events through the year.

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

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RYEDALE FESTIVAL TRUST LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022

Trustees

G Potter-Chairman E J S Anderson-Deputy Chairman H M Dobson-Treasurer (appointed 1/11/2021) E S Cleobury A Beaumont Ellis (appointed 1/1/2022) A R H Grace Canon Dr V Johnson (appointed 1/7/2022) G Simpson A J Snell

M L Byrne Hill (resigned 1/7/2022) J G Chisholm (resigned 1/7/2022)

During the year the company paid £1,078 (2021: £1,084) 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 Forsyth House Alpha Court Monks Cross York North Yorkshire YO32 9WN

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RYEDALE FESTIVAL TRUST LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 23 May 2023 and signed on its behalf by:

G Potter - Trustee

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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 2022.

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 of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, 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:

  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)).

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.

H Priest

UHY Calvert Smith Chartered Accountants Heritage House Murton Way Osbaldwick York North Yorkshire YO19 5UW

23 May 2023

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RYEDALE FESTIVAL TRUST LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2022

----- Start of picture text -----
2022 2021
Unrestricted Restricted Total Total
fund funds funds funds
Notes £ £ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 100,702 - 100,702 111,732
Charitable activities 5
Festival events 200,536 - 200,536 183,771
Other trading activities 3 6,969 - 6,969 12,083
Investment income 4 198 - 198 143
Total 308,405 - 308,405 307,729
EXPENDITURE ON
Raising funds 6 12,822 - 12,822 3,621
Charitable activities 7
Festival events 413,053 - 413,053 270,119
Total 425,875 - 425,875 273,740
Net gains/(losses) on investments (227) - (227) 743
-
NET INCOME/(EXPENDITURE) (117,697) (117,697) 34,732
RECONCILIATION OF FUNDS
-
Total funds brought forward 236,486 236,486 201,754
TOTAL FUNDS CARRIED FORWARD 118,789 - 118,789 236,486
----- End of picture text -----

The notes form part of these financial statements

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RYEDALE FESTIVAL TRUST LIMITED

BALANCE SHEET 31 AUGUST 2022

----- Start of picture text -----
2022 2021
Notes £ £
FIXED ASSETS
Tangible assets 14 226 432
CURRENT ASSETS
Debtors 15 37,814 27,063
Investments 16 4,708 4,935
Cash at bank and in hand 187,935 272,161
230,457 304,159
CREDITORS
Amounts falling due within one year 17 (111,894) (68,105)
NET CURRENT ASSETS 118,563 236,054
TOTAL ASSETS LESS CURRENT LIABILITIES 118,789 236,486
NET ASSETS 118,789 236,486
FUNDS 19
Unrestricted funds 118,789 236,486
TOTAL FUNDS 118,789 236,486
----- End of picture text -----

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2022 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

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RYEDALE FESTIVAL TRUST LIMITED

BALANCE SHEET - continued 31 AUGUST 2022

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 23 May 2023 and were signed on its behalf by:

G Potter - Trustee

H Dobson - Trustee

The notes form part of these financial statements

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RYEDALE FESTIVAL TRUST LIMITED

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2022

----- Start of picture text -----
2022 2021
Notes £ £
Cash flows from operating activities
Cash generated from operations 1 (83,972) 81,759
Net cash (used in)/provided by operating activities (83,972) 81,759
Cash flows from investing activities
Purchase of tangible fixed assets (452) (408)
Interest received 198 143
Net cash used in investing activities (254) (265)
Change in cash and cash equivalents in the
reporting period (84,226) 81,494
Cash and cash equivalents at the beginning
of the reporting period 272,161 190,667
Cash and cash equivalents at the end of the
reporting period 187,935 272,161
----- End of picture text -----

The notes form part of these financial statements

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RYEDALE FESTIVAL TRUST LIMITED

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2022

----- Start of picture text -----
1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
2022 2021
£ £
Net (expenditure)/income for the reporting period (as per the Statement
of Financial Activities) (117,697) 34,732
Adjustments for:
Depreciation charges 658 2,383
Losses/(gain) on investments 227 (743)
Interest received (198) (143)
Increase in debtors (10,751) (10,013)
Increase in creditors 43,789 55,543
Net cash (used in)/provided by operations (83,972) 81,759
2. ANALYSIS OF CHANGES IN NET FUNDS
At 1.9.21 Cash flow At 31.8.22
£ £ £
Net cash
Cash at bank and in hand 272,161 (84,226) 187,935
272,161 (84,226) 187,935
Liquid resources
- - -
Deposits included in cash
Current asset investments 4,935 (227) 4,708
4,935 (227) 4,708
Total 277,096 (84,453) 192,643
----- End of picture text -----

The notes form part of these financial statements

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RYEDALE FESTIVAL TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

1. 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.

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.

Raising funds

Raising funds includes all expenditure incurred by the charity to raise funds for its charitable purposes 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

Tangible fixed assets are included at cost. Items of equipment are capitalised when the purchase price exceeds £100. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

its estimated useful life:
Rate Method
------- ------------
Office equipment 20% Straight line
Computers 50% Straight line

Taxation

The company is accepted as a charity for tax purposes and is exempt from tax on its income or gains to 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.

continued...

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RYEDALE FESTIVAL TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022

1. ACCOUNTING POLICIES - continued

Fund accounting

Restricted funds are to be used for specific purposes laid down by the donor. Expenditure which meets this criteria is identified to the fund.

Designated funds are to be used for specific purposes but there is no legal obligation on the charity to use the funds in this way.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Investments

Investments are revalued to market value at the balance sheet date. Realised and unrealised gains and losses are included in the Statement of Financial Activities and in the net movement of funds for the year.

Government Grants

Government grants, including those received via the Coronavirus Job Retention Scheme, are 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.

2. DONATIONS AND LEGACIES

Donations
3.
OTHER TRADING ACTIVITIES
Sponsorship and advertising		 2022
£
100,702
2022
£
6,969		 2021
£
111,732
2021
£
12,083

continued...

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RYEDALE FESTIVAL TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022

4. INVESTMENT INCOME

Investment income
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 England
The Holbeck Charitable Trust
Coronavirus Job Retention Scheme
Arnold Clark Community Grant
6.
RAISING FUNDS
Raising donations and legacies
Members' dinner
Promotional printing
Support costs		 2022
£
198
2022
£
150,602
38,934
-
11,000
200,536
2022
£
-
10,000
-
1,000
11,000
2022
£
1,555
10,154
1,113
12,822		 2021
£
143
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

continued...

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RYEDALE FESTIVAL TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022

7. CHARITABLE ACTIVITIES COSTS

----- Start of picture text -----
||||| |---|---|---|---| |Support| |Direct|costs (see| |Costs|note 8)|Totals| |£|£|£| |Festival events|237,287|175,766|413,053|

----- End of picture text -----

The figures reported above relate to the year ended 31 August 2022.

8. SUPPORT COSTS

----- Start of picture text -----
||||| |---|---|---|---| |Management|Depreciation|Totals| |£|£|£| |-| |Raising donations and legacies|1,113|1,113| |Festival events|175,108|658|175,766| |176,221|658|176,879|

----- End of picture text -----

The figures reported above relate to the year ended 31 August 2022.

9. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

----- Start of picture text -----
|||| |---|---|---| |2022|2021| |£|£| |Depreciation - owned assets|658|2,383| |Other operating leases|3,067|3,058| |Independent examiner's fee|2,250|2,000|

----- End of picture text -----

10. TRUSTEES' REMUNERATION AND BENEFITS

There were no Trustees' remuneration or other benefits for the year ended 31 August 2022 nor the year ended 31 August 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 August 2022 nor for the year ended 31 August 2021.

Expenses totalling £295 (2021: £Nil) were reimbursed to the Trustees during the year.

continued...

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RYEDALE FESTIVAL TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022

11. STAFF COSTS

STAFF COSTS
Wages and salaries
Social security costs
Pension contributions		 2022
£
101,512
5,302
2,196
109,010		 2021
£
83,176
1,763
1,753
86,692
The average monthly number of employees during the year was as follows:
Management and administration		 2022
4		 2021
5

No employees received emoluments in excess of £60,000.

The key management personnel of the charity comprise the trustees, the General Manager and the Artistic Director. The total remuneration of the key management personnel was £67,674 (2021: £51,000).

12. INTANGIBLE INCOME

Included in donations is £nil (2021: £300) of intangible income for donated hospitality services.

13. DEFERRED GRANTS

This year £57,626 of grants relating to the provision of future events and services were received and included within deferred income on the balance sheet (2021: £52,967).

continued...

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RYEDALE FESTIVAL TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022

----- Start of picture text -----
14. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£ £ £
COST
At 1 September 2021 10,117 4,078 14,195
Additions - 452 452
At 31 August 2022 10,117 4,530 14,647
DEPRECIATION
At 1 September 2021 9,899 3,864 13,763
Charge for year 218 440 658
At 31 August 2022 10,117 4,304 14,421
NET BOOK VALUE
At 31 August 2022 - 226 226
At 31 August 2021 218 214 432
15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£ £
Trade debtors 15,217 6,570
VAT 15,106 11,525
Prepayments and accrued income 7,491 8,968
37,814 27,063
16. CURRENT ASSET INVESTMENTS
UK Quoted investment
2022 2021
£ £
Market value at 1 September 2021 4,935 4,192
Net unrealised gain/ (loss) on revaluation (227) 743
Sales proceeds - -
Market value at 31 August 2022 4,708 4,935
Historic cost 2,800 2,800
----- End of picture text -----

continued...

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RYEDALE FESTIVAL TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income
18.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
fund
£
Fixed assets
226
Current assets
230,457
Current liabilities
(111,894)
118,789
19.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
308,405
TOTAL FUNDS
308,405		 2022
2021
£
£
21,686
13,232
-
1,507
482
399
89,726
52,967
111,894
68,105
2022
2021
Restricted
Total
Total
funds
funds
funds
£
£
£
-
226
432
-
230,457
304,159
-
(111,894)
(68,105)
-
118,789
236,486
Net
movement
At
At 1.9.21
in funds
31.8.22
£
£
£
236,486
(117,697)
118,789
236,486
(117,697)
118,789
Resources
Gains and
Movement
expended
losses
in funds
£
£
£
(425,875)
(227)
(117,697)
(425,875)
(227)
(117,697)

continued...

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RYEDALE FESTIVAL TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022

19. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
TOTAL FUNDS		 Net
movement
At 1.9.20
in funds
£
£
201,754
34,732
201,754
34,732		 At
31.8.21
£
236,486
236,486

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
307,729
307,729		 Resources
expended
£
(273,740)
(273,740)		 Gains and
Movement
losses
in funds
£
£
743
34,732
743
34,732

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Net
movement
At 1.9.20
in funds
£
£
201,754
(82,965)
201,754
(82,965)		 At
31.8.22
£
118,789
118,789

continued...

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RYEDALE FESTIVAL TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022

19. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
616,134
616,134		 Resources
expended
£
(699,615)
(699,615)		 Gains and
Movement
losses
in funds
£
£
516
(82,965)
516
(82,965)

20. CONTINGENT LIABILITIES

There were no known contingent liabilities as at 31 August 2022 or 31 August 2021.

21. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 August 2022.

22. ULTIMATE CONTROLLING PARTY

Due to the diverse membership of the company, no one person controls the company.

23. STATUS

The company is limited by guarantee so has no share capital. In the event of a winding up of the company, the liability of the members is limited to £10 each.

24. THEATRE TAX RELIEF

The Trustees are submitting a claim for Theatre Tax Relief for the 2022 Festival but consider it prudent not to recognise the income until HM Revenue & Customs have agreed the claim. An amount of £2,372 in respect of the year ended 31 August 2019 was recognised within the statement of financial activities for the year ended 31 August 2021.

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