Company Registration Number - 4369668
This charity does not have a Charity Registration Number
Manchester Literature Festival Limited
Report and Accounts
31 March 2024
Manchester Literature Festival Limited
Report and accounts for the year ended 31 March 2024
Contents
| Page | |
|---|---|
| Charity information | 1 |
| Trustees' Annual Report | 1 |
| Statement of directors' responsibilities | 6 |
| Independent Accountant's Report | 8 |
| Funds Statements:- | |
| Statement of Financial Activities | 10 |
| Movement in funds | 11 |
| Income and Expenditure account | 12 |
| Balance sheet | 13 |
| Notes to the accounts | 15 |
Manchester Literature Festival Limited
Company Registration Number - 4369668
Trustees Annual Report for the Year Ended March 31st 2024
The Trustees present their Report and Accounts for the year ended 31 March 2024, which also comprises the Directors' Report required by the Companies Act 2006.
Reference and administrative details
The charity name.
The legal name of the charity is:- Manchester Literature Festival Limited.
The charity's areas operation and UK charitable registration.
The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 1121276.
The charity does not operate in any overseas jurisdictions.
Legal structure of the charity
The charity is constituted as a company limited by guarantee, registered under the Companies Acts .The governing document of the charity is the Memorandum and Articles of Association establishing the company under company legislation.
There are no restrictions in the governing documents on the operation of the Charity or on its investment powers other than those imposed by Charity Law.
By operation of law all trustees are directors under the Companies Act 2006 and all directors are trustees under Charities legislation and have responsibilities, as such, under both company and charity legislation.
The trustees are all individuals.
The principal operating address, telephone number, email and web addresses of the charity are:-
The Department Store 5 Oak Street Manchester M4 6JD Telephone 0161 832 5502
The registered office of the charity for Companies Act purposes is the same as the operating address shown above.
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Manchester Literature Festival Limited
Company Registration Number - 4369668
Trustees Annual Report for the Year Ended March 31st 2024
The Trustees in office on the date the report was approved were:-
Benjamin James Ward Christopher Graham Jeffries Gwen Louise Oakden Erinn Kelly Roocroft Bonnie Julia Turnbull Andrew Peter Westle Jo Somerset Peter Mearns (CHAIR) Karl Jackson Rebecca Louise Parkinson Anne-Marie Nugnes
The following persons served as Trustees during the year ended 31 March 2024 :-
The trustees who served as a trustee in the reporting period, and, if applicable, their dates of appointment or resignation during the year were:-.
| Name | Appointed | Resigned/Retired |
|---|---|---|
| Afshan Tania D'souza-Lodhi | 17/06/2024 | |
| Christopher Graham Jeffries | 19/02/2024 | |
| Gwen Louise Oakden | 15/05/2023 | |
| Peter Mearns (CHAIR) | ||
| Karl Jackson | ||
| Erinn Kelly Roocroft | 15/05/2023 | |
| Benjamin James Ward | 15/05/2023 | |
| Anne-Marie Nugnes | ||
| Rebecca Louise Parkinson | ||
| Jo Somerset | ||
| Bonnie Julia Turnbull | ||
| Andrew Peter Westle |
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Manchester Literature Festival Limited
Company Registration Number - 4369668
Trustees Annual Report for the Year Ended March 31st 2024
Objects and activities of the charity
A summary of the objects of the charity as set out in its governing document.
Manchester Literature Festival's Charitable objectives are:
"to promote arts and in particular, literature in society for the benefit of the inhabitants of the North West Area of England and elsewhere by developing public appreciation of literature and by improving public access to and the quality of literature."
Trustees' Annual Report for the year ended 31 March 2024
In Autumn 2023, we delivered the 18th iteration of Manchester Literature Festival from 6 - 22 October with Bookend events in September and November. In total we presented 43 live events and masterclasses. We also presented trailblazer events with Douglas Stuart (April 23) and Senator Bernie Sanders (February 2024). We attracted a total audience of 8133 to live events. The results of our Audience Survey revealed their overall experience of the festival as very good (73%) or good (24%).
A total of 109 writers and other artists took part in MLF events including 41 Global Majority writers, 17 events in total featured Global Majority artists (representing 40% of the festival programme). A total of 18 international artists participated in live events, joining us from China, Denmark, Greece, Norway, and the USA.
The programme showcased the rising stars of literature alongside award-winning writers and featured special conversations with leading national and international novelists, poets, musicians, actors, artists and activists. Programme strands included Fiction (Naomi Alderman, Richard Armitage, Deborah Levy, Kate Mosse, Karl Ove Knausgaard, Max Porter, Eli Shafak, Zadie Smith and Jeanette Winterson), Culture (Jeremy Deller, Afua Hirsch, Michael Lewis, Doon Mackichan, George Monbiot, Lisa Nandy, Thurston Moore and Yanis Varoufakis), Poetry (Simon Armitage, Kwame Dawes, Linton Kwesi Johnson, Arlo Parks and Lemn Sissay), Young Readers (Little Reads Family Day with Nathan Bryon & Dapo Adeola, Michael Morpurgo's I Believe in Unicorns and a Skateboard Drawing Club) and New Commissions (Jason Allen-Paisant, Auður Ava Olassdottir and Young Manchester and Danish poets from our Cities Untold project). We also delivered several Masterclasses (How to Write Historical Fiction with Kate Mosse and poetry/editing workshops with Kwame Dawes, Anthony Vahni Capildeo and Will Harris).
We collaborated on three new commissioning projects:
Jason Allen-Paisant
MLF and Manchester Art Gallery co-commissioned poet Jason Allen-Paisant to create new work inspired by garments in the Gallery's collection and recent Dandy Style exhibition. You can watch films of Jason performing them here:
https://www.manchesterliteraturefestival.co.uk/commissions/jason-allen-paisant
Auður Ava Ólafsdóttir
MLF and Manchester UNESCO City of Literature appointed Icelandic author Auður as the first in-person International Writer in Residence during the Festival of Libraries in June 2023. She returned to Manchester to premiere a new piece of writing inspired by her time in the city and this new commission will form a chapter of Auður's new novel DJ Bambi.
Cities Untold
As part of a two year joint project with Young Identity and Danish literature festivals Ordkraft (Aalborg) and LiteratureXchange (Aarhus), talented young writers from Manchester, Aalborg and Aarhus (Billie Meredith, SAF-SE, Cassandra Marie Geyti, Silas Toft, Marie Laurberg Nielsen and Selina Rom Andersen) created new poetry inspired by explorations of each other's cities. Five of the young writers took part in a special celebratory event to launch the Cities Untold anthology with musical accompaniment from jazz guitarist Rory A. Green and harpist Ada Grace Francis at the international Anthony Burgess Foundation during MLF. You can read the Cities Untold anthology and watch a video of the young writers talking about their experience of the project and performance highlighted from the events here:
https://www.manchesterliteraturefestival.co.uk/commissions/cities-untold
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Company Registration Number - 4369668
Manchester Literature Festival Limited
Trustees Annual Report for the Year Ended March 31st 2024
The Festival continued to deliver a year-round creative learning programme encouraging children and young people to develop a passion for reading.
We continued to deliver monthly Little Reads: fun, interactive workshops using drama, dance, songs, and craft to animate stories for under 5s and their parents / carers in partnership with GM libraries in Manchester, Oldham, Rochdale, Salford, Stockport, and Trafford, attracting a total of 2479 attendances across the year. We also delivered creative sessions for children of refugees and asylum seekers in partnership with Afrocats.
Working in partnership with Reform Radio and Sure Start Centres in Gorton and Clayton we delivered Story Makers: a six-week storytelling course for parents of young children. The project created a safe space for parents to connect, learn and explore; and resulted in them each writing and recording a story for their child. You can listen to the participants read and talk about their experience of the project, along with an interview with Nathon Bryon and Dapo Adeola who took part in this year's Little Reads Family Day on a special edition of Reform Radio's The Mothership programme;
https://www.reformradion.co.uk/show/the-mothership-24th-november -2023/
Working in partnership with Media Cubs we provided media training for seven young carers from North Manchester over the course of five workshops in the autumn. The young media reporters were supported to create a video review of award-winning storyteller Danyah Miller's adaptation of Michael Morpurgo's I Believe in Unicorns at Z-Arts. You can find out more about the project and view the film here: https://mediacubs.co.uk/media-cubs-review-i-beleive-in-unicorns-courtesy-of-manchester-literature-festival/
We delivered Story Explorers creative programmes over Easter and Summer holidays in Rochdale and Trafford for 8-11 year-old children eligible for free school meals participated in creative activities including reading, writing and film production skills all linked to a book.
Rob Biddulph presented two events at Z-arts to celebrate World Book Day in March 2024, attended by 390 children from local primary schools. A further 78 primary schools (12927 pupils) across Greater Manchester accessed free digital learning resources to support their own WBD activities. The events tied in with the launch of the 100 Story Hotel at Z-arts which MLF is co-promoting.
We produced a 16-page Festival Programme (20,000 print run) and a separate flyer to promote our Events and Activities for Children and Families (7,500) which were posted out to our mailing list and distributed to cultural venues across the region. We commissioned a large eye-catching banner outside Central Library which was up for the whole of October and also ran digital screen adverts at several sites across the city.
The 2023 programme was featured in The Bookseller, Creative Tourist, I Love Manchester, Manchester Evening News, Manchester Confidential, About Manchester, Manchester Wire, Manchester's Finest, Wigan Today and Viva Manchester. Cheshire Life featured an interview with Kate Mosse. Several events were reviewed by The Mancunion , Mancunian Matters and Northern Soul. BBC6 Music presenter Craig Charles recorded interviews with several MLF guests and Festival Codirector Sarah-Jane Roberts. Author interviews were also featured on The Verb (BBC Radio 3) and BBC Radio Manchester.
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Company Registration Number - 4369668
Manchester Literature Festival Limited
Trustees Annual Report for the Year Ended March 31st 2024
Public Benefit
Manchester Literature Festival's activities in the year were designed to provide the following public benefits in accordance with the Charities Act 2006:
The advancement of the arts: MLF provided a unique and diverse programme of activities designed to appeal to readers of all ages and literary tastes;
The advancement of education: MLF provided an imaginative programme of events and reading projects for children and young people and supported local writers through commissioning and showcasing opportunities, enabling them to reach a broader audience and advance their careers.
The Year Ahead
We plan to curate a live programme of 50 events and workshops as part of the main Festival in October 2024 as well as Spring events with award winning authors Percival Everett, David Nicholls , Olivia Laing, and David Mitchell.
We will continue to deliver a year-round Creative Learning programme of activities for children and families across Greater Manchester including our Little Reads, Story Explorers and Media Cubs Mini Reporters projects.
We will launch our new website and rebranding in June 2024 and start to plan for our twentieth anniversary celebrations in 2025.
The trustees bankers and advisers
Bankers HSBC 780 Wilmslow Road, Manchester M20 0DP Accountants RWF Rubinstein, Chartered Accountants 171 Bury New Road, Manchester M45 6AB
Financial review
The charity's financial postion at the year ended March 31st 2024
The financial position of the charity at 31 March 2024 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:-
| Called up share capital Total Funds Net income Unrestricted Revenue Funds available for the general purposes of the charity |
2024 £ 20,798 - 121,326 - 121,326 |
2023 £ 12,516 |
|---|---|---|
| - | ||
| 100,528 - |
||
| 100,528 |
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Company Registration Number - 4369668
Manchester Literature Festival Limited
Trustees Annual Report for the Year Ended March 31st 2024
Financial review of the position at the reporting date at March 31st 2024 and Policies on reserves
The Festival currently holds £121,326 in reserves, all of which are unrestricted. This includes £60K ring fenced budget to cover potential wind-up costs including payment of notice periods, statutory redundancy pay and fulfilment of any freelance obligations. We are working to build a further £60K of free reserves to help smooth out peaks and troughs in funding, sponsorship and box office income to cover any one-off additional expenditure. The trustees may choose to invest any excess reserves in activities that will help to secure the continued growth of the festival, such as fundraising or marketing, or to seek out low risk investment banking options.
Availability and adequacy of assets of each of the funds
The board of trustees is satisfied that the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund
Details of The Independent Examiner
Michael J Rubinstein
Fellow of the Institute of Chartered Accountants
Brentwood 171 Bury New Road Whitefield Manchester M45 6AB
Statement of the Directors Trustees' Responsibilities
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Companies Act 2006, the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations,the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), .
In particular, the Companies Act 2006 and charity law require the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to :-
-
to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law);
-
select suitable accounting policies and apply them consistently;
-
make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business;
-
state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements.
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Manchester Literature Festival Limited
Company Registration Number - 4369668
Trustees Annual Report for the Year Ended March 31st 2024
The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.
The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with the Companies Act 2006 and comply with regulations made under the Charities Act. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are also responsible for the contents of the Trustees' report, and the statutory responsibility of the Independent Examiner in relation to the Trustees' report is limited to examining the report and ensuring that , on the face of the report, there are no material inconsistencies with the figures disclosed in the financial statements.
Method of preparation of accounts - Small company provisions
The financial statements are set out on pages 12 to 26.
The financial statements have been prepared implementing the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016)
These financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.
This report was approved by the board of trustees on December 9th 2024
Peter Mearns Director and Trustee
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Manchester Literature Festival Limited
Report of the Independent Examiner to the Trustees of the charitable company on the accounts for the year ended 31 March 2024
I report to the Trustees on my examination of the financial statements of the charitable company on pages 10 to 24 for the year ended 31 March 2024 which have been prepared in accordance with the Charities Act 2011 (the Act) and with the Financial Reporting Standard 102, (effective 1st January 2016) as modified by FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , and under the historical cost convention and the accounting policies set out on page 15.
Respective responsibilities of the Trustees and the Independent Examiner and the basis of the report
As described on page 6, you, the charitable company's Trustees, who are also the Directors of the Company for the purposes of Company law, are responsible for the preparation of the financial statements in accordance with the Companies Act 2006, the Charities Act 2011 and all other applicable law and with United Kingdom Generally Accepted Accounting Practice, applicable to smaller entities, and for being satisfied that the financial statements give a true and fair view.
The Trustees consider that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the memorandum and articles of the charity for the conducting of an audit, and that the accounts do not require an audit in accordance with Part 16 of the Companies Act 2006 and that no member or members have requested an audit pursuant to Section 476 of the Companies Act 2006. As a consequence, the Trustees have elected that the financial statements be subject to independent examination.
Having satisfied myself that the financial statements are not required to be audited under any legal provision, or otherwise, and are eligible for independent examination, it is my responsibility to:-
a) examine the financial statements of the charity under section 145 of the Act;
b) follow the applicable procedures in the Directions given by the Charity Commission under section 145(5)(b) of the Act.
Basis of Independent Examiner's Statement and scope of work undertaken
I report in respect of my examination of the charity's financial statements carried out under s145 of the Act. In carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act setting out the duties of an independent examiner in relation to the conducting of an independent examination. An independent examination includes a review of the accounting records kept by the charitable company and of the accounting systems employed by the charitable company and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you, as Trustees, concerning such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of charity legislation and that, on a test basis of evidence relevant to the amounts and disclosures made, the financial statements comply with the SORP.
The procedures undertaken do not provide all the evidence that would be required in an audit, and information supplied by the Trustees in the course of the examination is not subjected to audit tests or enquiries and does not cover all the matters that an auditor would consider in arriving at an opinion. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide
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Manchester Literature Festival Limited
Consequently, I do not express an audit opinion on the view given by the financial statements, and in particular, I express no opinion as to whether the financial statements give a true and fair view of the affairs of the charity, and my report is limited to the matters set out in the statement below.
I planned and performed my examination so as to satisfy myself that the objectives of the independent examination are achieved and before finalising the report I obtained written assurances from the Trustees of all material matters.
Independent Examiner's Statement, Report and Opinion
Subject to the limitations upon the scope of my work as detailed above, I have completed my examination: and can confirm that:-
The accounts of this charitable company are not required to be audited under Part 16 of the Companies Act 2006;
This is a report in respect of an examination carried out under section 145 of the Act and in accordance with Directions given by the Charity Commission under section 145(5)(b) of the Act which may be applicable;
and that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:-
accounting records were not kept in respect of the charity as required by Section 386 of the Companies Act 2006 and Section 130 of The Charities Act 2011;
the financial statements do not accord with those records; or
the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in section 396 of the Companies Act 2006 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;
have not been prepared in accordance with the methods and principles set out in the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP).
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 financial statements to be reached.
==> picture [402 x 43] intentionally omitted <==
Signed:-
Michael J Rubinstein BA FCA - Independent Examiner
Fellow of the Institute of Chartered Accountants in England and Wales
Brentwood 171 Bury New Road Whitefield Manchester M45 6AB
This report was signed on December 9th 2024
9
Manchester Literature Festival Limited - Statement of Financial Activities for the year ended 31 March 2024
Statement of Financial Activities (including the Income and Expenditure Account for the year ended 31 March 2024, as required by the Companies Act 2006)
| Income & Endowments from: Donations & Legacies Charitable activities Investments Total income Expenditure on: Raising funds Charitable activities Total expenditure Net income for the year Net income after transfers Reconciliation of funds:- Total funds brought forward Total funds carried forward Net movement in funds |
Current year Unrestricted Funds 2024 £ 206,018 61,899 1,395 269,312 8,500 240,014 248,514 20,798 20,798 20,798 100,528 121,326 |
Current year Total Funds 2024 £ 206,018 61,899 1,395 269,312 8,500 240,014 248,514 20,798 20,798 20,798 100,528 121,326 |
Prior Year Total Funds 2023 £ 185,484 53,678 131 |
|---|---|---|---|
| 239,293 | |||
| 8,500 218,277 |
|||
| 226,777 | |||
| 12,516 | |||
| 12,516 | |||
| 12,516 88,012 |
|||
| 100,528 |
The 'SORP Ref' indicated above is the classification of income set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet.
A separate Statement of Total Recognised Gains and Losses is not required as this statement includes all recognised gains and losses.
All the prior year transactions were unrestricted items, and no further analysis is required
All activities derive from continuing operations
All activities derive from continuing operations
The notes attached on pages 15 to 24 form an integral part of these accounts.
10
Manchester Literature Festival Limited - Statement of Financial Activities for the year ended 31 March 2024
Movements in revenue and capital funds for the year ended 31 March 2024
Revenue accumulated funds
| Unrestricted Funds 2024 £ Accumulated funds brought forward 100,528 Recognised gains before transfers 20,798 121,326 Closing revenue funds 121,326 Summary of funds Unrestricted and Designated funds 2024 £ Revenue accumulated funds 121,326 Total funds 121,326 |
Total Funds 2024 £ 100,528 20,798 121,326 121,326 Total Funds 2024 £ 121,326 121,326 |
Last year Total Funds 2023 £ 88,012 12,516 |
|---|---|---|
| 100,528 | ||
| 100,528 | ||
| Last Year Total Funds 2023 £ 100,528 |
||
| 100,528 |
The notes attached on pages 15 to 24 form an integral part of these accounts.
11
Manchester Literature Festival Limited - Statement of Financial Activities for the year ended 31 March 2024
Income and Expenditure Account for the year ended 31 March 2024 as required by the Companies Act 2006
| Income Income from operations Interest receivable Gross income in the year before exceptional items Gross income in the year including exceptional items Expenditure Charitable expenditure, excluding depreciation and amortisation Depreciation and amortisation Fundraising costs Governance costs Realised losses on disposals of social investments which are programme related Total expenditure in the year Tax on surplus on ordinary activities Retained surplus for the financial year All activities derive from continuing operations Net income after tax in the financial year Net income before tax in the financial year Investment income |
2024 £ 267,917 1,395 269,312 269,312 234,949 650 8,500 4,415 - 248,514 20,798 - 20,798 20,798 |
2023 £ 239,162 131 |
|---|---|---|
| 239,293 | ||
| 239,293 | ||
| 213,376 886 8,500 4,015 - |
||
| 226,777 | ||
| 12,516 - |
||
| 12,516 | ||
| 12,516 | ||
In accordance with the provisions of the Companies Act 2006, the headings and subheadings used in the Income and Expenditure account have been adapted to reflect the special nature of the charity's activities.
The notes attached on pages 15 to 24 form an integral part of these accounts.
12
Manchester Literature Festival Limited Balance Sheet as at 31 March 2024
| Notes Fixed assets Tangible assets 9 Total fixed assets Current assets Cash at bank and in hand Total current assets |
130,037 | 2024 £ 2,010 2,010 |
140,150 | 2023 £ 2,660 |
|---|---|---|---|---|
| 2,660 | ||||
| 130,037 | 140,150 | |||
| Creditors: amounts falling due within one year 10 (10,721) (42,282) Net current assets 119,316 97,868 The total net assets of the charity 121,326 100,528 Restricted funds - - Unrestricted Funds Unrestricted Revenue Funds 13 121,326 100,528 121,326 100,528 Designated Funds - - Total charity funds 121,326 100,528 The total net assets of the charity are funded by the funds of the charity, as follows:- |
||||
| 100,528 | ||||
| - 100,528 - |
||||
| 100,528 |
The notes attached on pages 15 to 24 form an integral part of these accounts.
13
Manchester Literature Festival Limited
Balance Sheet as at 31 March 2024
The 'SORP Ref' indicated above is the classification of Balance Sheet items as set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the SOFA.
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The charity is subject to Independent Examination under charity legislation, and the report of the Independent Examiner is on page 9.
The financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.
Peter Mearns
Trustee
Approved by the board of trustees on December 9th 2024
The notes attached on pages 15 to 24 form an integral part of these accounts.
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Manchester Literature Festival Limited
Notes to the Accounts for the year ended 31 March 2024
1 Accounting policies
Policies relating to the production of the accounts.
Basis of preparation and accounting convention
The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016) and 'FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , and in accordance with all applicable law in the charity's jurisdiction of registration, except that the charity has prepared the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008 refer explicitly to the SORP 2005. This has been done to accord with current best practice.
Going Concern
The charitable activities are entirely dependent on continuing grant aid and voluntary donations as well as trading revenues. As a consequence, the going concern basis is dependent on the future flow of these uncertain funding streams. Accordingly, the Trustees have obtained forecasts and, after reviewing the financial forecasts for future periods to 31 December 2023, the Trustees are satisfied that, at the time of approving the financial statements, it is appropriate to adopt the going concern basis in preparing the financial statements. Other than these matters, the Trustees are not aware of any material uncertainites about the charity's ability to continue as a going concern.
Risks and future assumptions
Policies relating to categories of income and income recognition.
Nature of income
Gross income represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Accounting for deferred income and income received in advance
Where terms and conditions relating to income have not been met or uncertainty exists as to whether the charity can meet any terms or conditions otherwise within its control, income is not recognised but is deferred as a liability until it is probable that the terms or conditions imposed can be met.
Any grant that is subject to performance-related conditions received in advance of delivering the goods and services required by that condition, or is subject to unmet conditions wholly outside the control of the recipient charity, is accounted for as a liability and shown on the balance sheet as deferred income. Deferred income is released to income in the reporting period in which the performance-related or other conditions that limit recognition are met.
When income from a grant or donation has not been recognised due to the conditions applying to the gift not being wholly within the control of the recipient charity, it is disclosed as a contingent asset if receipt of the grant or donation is probable once those conditions are met.
Where time related conditions are imposed or implied by a funder, then the income is apportioned to the time periods concerned,and, where applicable, is accounted for as a liability and shown on the balance sheet as deferred income. When grants are received in advance of the expenditure on the activity funded by them, but there are no specific time related conditions, then the income is not deferred.
Any condition that allows for the recovery by the donor of any unexpended part of a grant does not prevent recognition of the income concerned, but a liability to any repayment is recognised when repayment becomes probable.
Fixed Assets
Tangible fixed assets are measured at their original cost value, or subsequent revaluation, or if donated, as described above. Cost value includes all costs expended in bringing the asset into its intended working condition.
Depreciation has been provided at the following rates in order to write off the assets to their anticipated residual value over their estimated useful lives.
Plant and machinery
20 % straight line
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Manchester Literature Festival Limited
Notes to the Accounts for the year ended 31 March 2024
Creditors and provisions
Creditors and provisions are measured at their payable amounts at the balance sheet date
Financial instruments including cash and bank balances
Cash held by the charity is included at the amount actually held and counted at the year end. Bank balances, whether in credit or overdrawn, are shown at the amounts properly reconciled to the bank statements.
2[Liability to taxation]
The Trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively on the specific charitable objects of the charity and for no other purpose.
3 Winding up or dissolution of the charity
If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.
4 Significance of financial instruments to the charity's position
There are no significant implications relating to the charity's financial position.
5 Net surplus before tax in the financial year
| The net surplus before tax in the financial year is stated after charging:- Depreciation of owned fixed assets Pension costs 6 Staff costs and emoluments Salary costs Gross Salaries excluding trustees and key management personnel Employer's National Insurance for all staff Employer's operating costs of defined contribution pension schemes Total salaries, wages and related costs The average number of full time staff employed in the year was The estimated equivalent number of full time staff deployed in different activities in th Engaged on charitable activities Engaged on publicity activities Engaged on fundraising activities The estimated full time equivalent number of all staff employed as above |
2024 £ 650 2,805 |
2023 £ 886 2,838 |
|---|---|---|
| 2024 £ 93,484 5,135 2,805 |
2023 £ 94,581 5,776 2,838 |
|
| 101,424 | 103,195 | |
| 3 e year was:- 1 1 1 |
3 1 1 1 |
|
| 3 | 3 |
16
Manchester Literature Festival Limited
Notes to the Accounts for the year ended 31 March 2024
7 Deferred income - Unrestricted and Designated funds
| Current Year GMCA Total These deferrals are included in creditors Prior Year GMCA Total These deferrals are included in creditors 8 Deferred income - Restricted funds Current Year Sundry items under £1000 Cities Untold MCC City of Literature We Love Manchester Total These deferrals are included in creditors Prior Year Sundry items under £1000 Cities Untold MCC City of Literature We Love Manchester Total These deferrals are included in creditors |
Opening Deferrals £ 22,000 |
Released from prior years £ (22,000) |
Received less released in year £ - |
Deferred at year end £ 1,627 |
|---|---|---|---|---|
| 22,000 | (22,000) | - | 1,627 | |
| Opening Deferrals £ - |
Released from prior years £ - |
2024 £ 1,627 |
2023 £ 22,000 |
|
| Received less released in year £ - |
Deferred at year end £ 22,000 |
|||
| - | - | - | 22,000 | |
| Opening Deferrals £ 1,000 9,056 1,500 2,000 |
Released from prior years £ (1,000) (9,056) (1,500) (2,000) |
2023 £ 22,000 |
2022 £ - |
|
| Received less released in year £ - - - |
Deferred at year end £ 1,627 - - - |
|||
| 13,556 | (13,556) | - | 1,627 | |
| Opening Deferrals - - - - |
Released from prior years - - - - |
2024 £ 1,627 |
2023 £ 13,556 |
|
| Received less released in year - - - - |
Deferred at year end 1,000 9,056 1,500 2,000 |
|||
| - | - | - | 13,556 | |
| 2023 £ 13,556 |
17
Manchester Literature Festival Limited
Notes to the Accounts for the year ended 31 March 2024
9 Tangible fixed assets
| Current Year Cost At 1 April 2023 At 31 March 2024 Depreciation At 1 April 2023 Charge for the year At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 |
Land and Buildings £ - |
Plant & Machinery £ 15,666 |
Motor Vehicles £ - |
Total £ 15,666 |
|---|---|---|---|---|
| - | 15,666 | - | 15,666 | |
| - - |
13,006 650 |
- - |
13,006 650 |
|
| - | 13,656 | - | 13,656 | |
| - | 2,010 | - | 2,010 | |
| - | 2,660 | - | 2,660 |
| 10 Creditors: amounts falling due within one year Accruals Payment received on account for contracts or performance related grants Deferred Income - Unrestricted & designated funds Deferred Income - Restricted funds PAYE, NIC VAT and other taxes Other creditors 11 Income and Expenditure account summary At 1 April 2023 At 1 April 2023 Surplus after tax for the year At 31 March 2024 |
2024 £ 4,400 - 1,627 - 4,361 333 |
2023 £ 4,000 - 22,000 13,556 2,726 - |
|---|---|---|
| 10,721 | 42,282 | |
| 2024 £ 12,516 12,516 20,798 |
2023 £ - - 12,516 |
|
| 33,314 | 12,516 |
12 Particulars of how particular funds are represented by assets and liabilities
| At 31 March 2024 Tangible Fixed Assets Current Assets Current Liabilities |
Unrestricted funds £ 2,010 130,037 (10,721) |
Designated funds £ - - |
Restricted funds £ - - - |
Total Funds £ 2,010 130,037 (10,721) |
|---|---|---|---|---|
| 121,326 | - | - | 121,326 |
18
Manchester Literature Festival Limited
Notes to the Accounts for the year ended 31 March 2024
| At 1 April 2023 Tangible Fixed Assets Fixed asset investments Programme related investments Current Assets Current Liabilities |
Unrestricted funds £ 2,660 140,150 (42,282) |
Designated funds £ - - - |
Restricted funds £ - - - |
Total Funds £ 2,660 140,150 (42,282) |
|---|---|---|---|---|
| 100,528 | - | - | 100,528 |
13 Change in total funds over the year as shown in Note 12 , analysed by individual funds
| Unrestricted and designated funds:- Unrestricted Revenue Funds Total unrestricted and designated funds Total charity funds |
Funds brought forward from 2023 £ 100,528 |
Movement in funds in 2024 £ 20,798 |
£ - Transfers between funds in 2024 |
Funds carried forward to 2025 £ 121,326 |
|---|---|---|---|---|
| 100,528 | 20,798 | - | 121,326 | |
| 100,528 | 20,798 | - | 121,326 |
14 Analysis of movements in funds over the year as shown in Note 13
| Unrestricted and designated funds:- Unrestricted Revenue Funds |
Income 2024 £ 269,312 |
Expenditure 2024 £ (248,514) |
Other Gains & Losses 2024 £ - |
Movement in funds 2024 £ 20,798 |
|---|---|---|---|---|
| 269,312 | (248,514) | - | 20,798 |
15 The purposes for which the funds as detailed in note 13 are held by the charity are:-
Unrestricted and designated funds:-
Unrestricted revenue funds Restricted Revenue Funds
These funds are held for the meeting the objectives of the charity, and to provide reserves for future activities, and , subject to charity legislation, are free from all restrictions on their use.
These funds are held for the meeting the objectives of the charity, and to provide reserves for future activities. They are held for specific restrited purposes as detailed in Note 7
16 Ultimate controlling party
The charity is under the control of its legal members.
19
Manchester Literature Festival Limited
Detailed analysis of income and expenditure for the year ended 31 March 2024 as required by the SORP 2015
17 Donations, Grants and Legacies
| Donations, Grants and Legacies | ||||
|---|---|---|---|---|
| Total public sector revenue grants Manchester City Council - Derek Jarman Commission Small grants individually less than £1000 Arts Council England Cities Untold Lancashire Wildlife Trust Revenue grants from government and public bodies NL Community Fund MMU We Love Manchester Greater Manchester Combined Authority Manchester City Council - Other Funding Arts Council Cultural Recovery Fund Manchester City Council -Event Funding |
Current year Unrestricted Funds 2024 £ - 78,072 - 3,499 12,500 22,000 - 30,129 2,267 8,620 - 2,000 |
Current year Restricted Funds 2024 £ - - - - - - - - - - - - |
Current year Total Funds 2024 £ - 78,072 - 3,499 12,500 22,000 - 30,129 2,267 8,620 - 2,000 159,087 |
Prior Year Total Funds 2023 £ 78,072 2,000 2,500 12,500 40,000 8,944 - - 6,255 360 2,000 |
| 159,087 | - | 152,631 |
20
Manchester Literature Festival Limited
Detailed analysis of income and expenditure for the year ended 31 March 2024 as required by the SORP 2015
| Current year Current year Current year Prior Year Unrestricted Funds Restricted Funds Total Funds Total Funds 2024 2024 2024 2023 £ £ £ £ 4,936 - 4,936 4,000 - - - - - - - 2,000 1,935 - 1,935 1,603 1,272 - 1,272 - 2,288 - 2,288 - 10,431 - 10,431 7,603 Current year Current year Current year Prior Year Unrestricted Funds Restricted Funds Total Funds Total Funds 2024 2024 2024 2023 £ £ £ £ Sponsorship 36,500 - 36,500 25,250 36,500 - 36,500 25,250 Total Donations, Grants and Legacies Total Donations, Grants and Legacies 206,018 - 206,018 185,484 Total private sector revenue grants Lowry Contact Theatre Revenue grants and donations from non public bodies Gift Aid Donations from subsidiaries Granada Foundation Small grants individually less than £1000 Total sponsorship income Revenue grants and donations from non public bodies (Include Gift Aid donations from subsidiaries) - Prior Year analysis Waterstones Sponsorship Income |
Current year Current year Current year Prior Year Unrestricted Funds Restricted Funds Total Funds Total Funds 2024 2024 2024 2023 £ £ £ £ 4,936 - 4,936 4,000 - - - - - - - 2,000 1,935 - 1,935 1,603 1,272 - 1,272 - 2,288 - 2,288 - 10,431 - 10,431 7,603 Current year Current year Current year Prior Year Unrestricted Funds Restricted Funds Total Funds Total Funds 2024 2024 2024 2023 £ £ £ £ Sponsorship 36,500 - 36,500 25,250 36,500 - 36,500 25,250 Total Donations, Grants and Legacies Total Donations, Grants and Legacies 206,018 - 206,018 185,484 Total private sector revenue grants Lowry Contact Theatre Revenue grants and donations from non public bodies Gift Aid Donations from subsidiaries Granada Foundation Small grants individually less than £1000 Total sponsorship income Revenue grants and donations from non public bodies (Include Gift Aid donations from subsidiaries) - Prior Year analysis Waterstones Sponsorship Income |
Current year Current year Current year Prior Year Unrestricted Funds Restricted Funds Total Funds Total Funds 2024 2024 2024 2023 £ £ £ £ 4,936 - 4,936 4,000 - - - - - - - 2,000 1,935 - 1,935 1,603 1,272 - 1,272 - 2,288 - 2,288 - 10,431 - 10,431 7,603 Current year Current year Current year Prior Year Unrestricted Funds Restricted Funds Total Funds Total Funds 2024 2024 2024 2023 £ £ £ £ Sponsorship 36,500 - 36,500 25,250 36,500 - 36,500 25,250 Total Donations, Grants and Legacies Total Donations, Grants and Legacies 206,018 - 206,018 185,484 Total private sector revenue grants Lowry Contact Theatre Revenue grants and donations from non public bodies Gift Aid Donations from subsidiaries Granada Foundation Small grants individually less than £1000 Total sponsorship income Revenue grants and donations from non public bodies (Include Gift Aid donations from subsidiaries) - Prior Year analysis Waterstones Sponsorship Income |
Current year Current year Current year Prior Year Unrestricted Funds Restricted Funds Total Funds Total Funds 2024 2024 2024 2023 £ £ £ £ 4,936 - 4,936 4,000 - - - - - - - 2,000 1,935 - 1,935 1,603 1,272 - 1,272 - 2,288 - 2,288 - 10,431 - 10,431 7,603 Current year Current year Current year Prior Year Unrestricted Funds Restricted Funds Total Funds Total Funds 2024 2024 2024 2023 £ £ £ £ Sponsorship 36,500 - 36,500 25,250 36,500 - 36,500 25,250 Total Donations, Grants and Legacies Total Donations, Grants and Legacies 206,018 - 206,018 185,484 Total private sector revenue grants Lowry Contact Theatre Revenue grants and donations from non public bodies Gift Aid Donations from subsidiaries Granada Foundation Small grants individually less than £1000 Total sponsorship income Revenue grants and donations from non public bodies (Include Gift Aid donations from subsidiaries) - Prior Year analysis Waterstones Sponsorship Income |
Prior Year Total Funds 2023 £ 4,000 - 2,000 1,603 - - |
|---|---|---|---|---|
| 7,603 | ||||
| 36,500 | - | 25,250 | ||
| 206,018 | - | 206,018 | 185,484 |
18 Income from charitable activities - Trading Activities
| Current year Primary purpose and ancillary trading Total Primary purpose and ancillary trading Sale of goods and services in accordance with the charity's objects |
Current year Unrestricted Funds 2024 £ 61,899 |
Current year Restricted Funds 2024 £ - |
Current year Total Funds 2024 £ 61,899 61,899 |
Prior Year Total funds 2023 £ 53,678 |
|---|---|---|---|---|
| 61,899 | - | 53,678 |
21
Manchester Literature Festival Limited
Detailed analysis of income and expenditure for the year ended 31 March 2024 as required by the SORP 2015
19 Total Income from charitable activities
| Current year Current year Unrestricted Funds 2024 £ Total income from charitable trading 61,899 Total from charitable activities 61,899 20 Investment income Current year Unrestricted Funds 2024 £ Bank Interest Receivable 1,395 Total investment income 1,395 21 Expenditure on charitable activities - Direct spending |
Current year Unrestricted Funds 2024 £ 61,899 |
Current year Restricted Funds 2024 £ - |
Current year Total Funds 2024 £ 61,899 61,899 Current year Total Funds 2024 £ 1,395 1,395 |
Prior Year Total Funds 2023 £ 53,678 |
|---|---|---|---|---|
| 61,899 | - | 53,678 | ||
| Current year Unrestricted Funds 2024 £ 1,395 |
Current year Restricted Funds 2024 £ - |
Prior Year Total Funds 2023 £ 131 |
||
| 1,395 | - | 131 | ||
| Current Year Total direct spending Defined contribution pension costs - charitable activities Employers' NI - Charitable activities Gross wages and salaries - charitable activities Artists Costs Venue and production costs Marketing and advertising of charitable services Travel and Subsistence - Charitable Activities |
Current year Unrestricted Funds 2024 £ 93,484 5,135 2,805 1,670 23,628 55,773 9,502 |
Current year Restricted Funds 2024 £ - - - - - - - |
Current year Total Funds 2024 £ 93,484 5,135 2,805 1,670 23,628 55,773 9,502 191,997 |
Prior Year Total Funds 2023 £ 94,581 5,776 2,838 4,600 23,525 37,703 4,845 |
|---|---|---|---|---|
| 191,997 | - | 173,868 |
22
Manchester Literature Festival Limited
Detailed analysis of income and expenditure for the year ended 31 March 2024 as required by the SORP 2015
22 Support costs for charitable activities
| 22 Support costs for charitable activities |
22 Support costs for charitable activities |
22 Support costs for charitable activities |
||
|---|---|---|---|---|
| Current year Current year Current Year Unrestricted Funds Restricted Funds 2024 2024 £ £ Employee costs not included in direct costs 991 - 2,922 - Premises Expenses 7,153 - 298 - Administrative overheads 2,075 - 3,022 - 315 - 1,811 - - - 1,378 - 88 - Professional fees paid to advisors other than the auditor or examiner 22,477 - Financial costs 422 - 650 - Support costs before reallocation 43,602 - Total support costs - Current Year 43,602 - Current year Current year Current Year Unrestricted Funds Restricted Funds 2024 2024 £ £ Independent Examiner's fees 4,415 - Total Governance costs 4,415 - All the expenditure in the prior year was unrestricted. Rates and water charges Bank charges Consultancy fees Stationery and printing Postage Rent payable under operating leases Travel and subsistence - staff Training and welfare - staff Liabilty and contents insurance Subscriptions to periodicals Telephone, fax and internet Health and safety costs Sundry expenses Depreciation & Amortisation in total for |
Current year Total Funds 2024 £ 991 2,922 7,153 298 2,075 3,022 315 1,811 - 1,378 88 22,477 422 650 |
Prior Year Total Funds 2023 £ 1,574 - 7,023 390 2,201 2,827 297 1,392 385 1,393 386 21,385 255 886 |
||
| 43,602 | - | 43,602 43,602 Current year Total Funds 2024 £ 4,415 4,415 |
40,394 | |
| 43,602 | - | 40,394 | ||
| Current year Unrestricted Funds 2024 £ 4,415 |
Current year Restricted Funds 2024 £ - |
- Prior Year Total Funds 2023 £ 4,015 |
||
| 4,415 | - | 4,015 | ||
23
Manchester Literature Festival Limited
Detailed analysis of income and expenditure for the year ended 31 March 2024 as required by the SORP 2015
23 Total Charitable expenditure
| Total Charitable expenditure | ||||
|---|---|---|---|---|
| Current Year Total direct spending Total charitable trading costs Total grantmaking costs Total support costs Total Governance costs Total charitable expenditure |
Current year Unrestricted Funds 2024 £ 191,997 - - 43,602 4,415 |
Current year Restricted Funds 2024 £ - - - - - |
Current year Total Funds 2024 £ 191,997 - - 43,602 4,415 240,014 |
Prior Year Total Funds 2023 £ 173,868 - - 40,394 4,015 |
| 240,014 | - | 218,277 |
All the expenditure in the prior year was unrestricted.
| Prior Year Total direct spending Total charitable trading costs Total grantmaking costs Total support costs Total Governance costs Total charitable expenditure |
Prior Year Unrestricted Funds 2023 £ 173,868 - - 40,394 4,015 |
Prior Year Prior Year Restricted Funds Total Funds 2023 2023 £ £ - 173,868 - - - - - 40,394 - 4,015 |
|---|---|---|
| 218,277 | - 218,277 |
24 Expenditure on raising funds and costs of investment management
| Current Year Agent's costs for fundraising Total fundraising costs |
Current year Unrestricted Funds 2024 £ 8,500 |
Current year Restricted Funds 2024 £ - |
Current year Prior Year Total Funds Total Funds 2024 2023 £ £ 8,500 8,500 |
|---|---|---|---|
| 8,500 | - | 8,500 8,500 |
All the expenditure in the prior year was unrestricted.
24