REGISTERED COMPANY NUMBER: 06326484 (England and Wal¢s) REGISTERED CHARITY NUMBER.. 1124477 Rtport of the Trnsttt5 * Fillantial Ststtments for tht Year Ended JI Mrch 2022 for HighTide Festival Produetions Lirnittd An5tcy 8ond LLP Sthwiory Auditor5 & Chartued Accountsnts I Charterhovse M¢ws Lonth)n ECIM 68B IIMIIIIM 'ABJFOICA 2311212022 COMPANIES HOUSE
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Highride Futival ProdKtioA% Limited Contents of the Finxu¢io1 Ststemeuts for the year endtd 31 Marth 2022 Report of the Trustees Report of the Indewthnt Auditor5 Sthternent of Financi Artivitifs 10 Statement of Financial Position Notes io Ihe Fin4rti*l 12 18
HighTide Festivl Productitins Llthited Report of the Trustte5 ror tht year ended 31 Matth 2022 The Iru5tees who are alsodirect0Of thecharity forthe purrM)5e5 of the CompanicsAct 2Tr)6, PTUS¢nttheir rttKprtwith the rtnancial statements of the charity for the year ended 31 Mh 2022. The trustees have adopted the provisions of Accouniing and R¢w>rtin8 by Charities.. Siaiemenl of Rccommended Praaice appltcknle lo Chariti prEwing their acu>unts In accordance wilh th¢ Financial RerK>rting Srandard 2ppliible in the UK a1 Republic of Ireland IFRS 102) {cffecrive l January 2019). E%¢cutive Summary 21r22 Tht year April 2021 to March 2022 saw HighTidc continu¢ Its &1[1ve recovery frorn thc Covid.19 crisis with irrtagirtation and vigour. 5UPP)rting writer5 and arti51S with new projetts and exploting digitsi coll&tKration5 with partners and audiences. In 2021 HighTide further made Ihe Easi of England ils focus. sccuring office PTemiw at thtNew Wolsey Theatre in Ipswich, attd partnerin8 with Suffolk County Council, Ipswich Museums. Suffolk Refijgee Supp)n and Aspire 8laGk Suffolk on a multi- 5it¢, inclusive. six monih Cngagemeni prs)jcct with $ignifi¢ant measurable out&)mes of wjsiiivt 5ucces5. Partnerships with th¢ University of East Angli4 Creative Nation. Suffolk Onc and Wcst Suffolk Coll¢g¢s, fvrtheT saw the company suprM)n Iheiraining of youn8 people in the region eonsidtting profess1ofi c4reers in art HighTide produ¢¢d When the Long Tri¢k'$ Over with New Wolsey Thea. written by award winning playwright Mtsrg8n Lloyd Malcolm and direct by ChinoyeTern Odimba whith tOUTed within the grea Suffolk region, produced in partn¢rship with New Wolsey Thearrc. Ipswich. The company collatred with llde Festival and First Light Festival on the developrnenl and public sharings of new work by &Jffolk-Iwed wriieTS. and pmduc&l a film version of the award winnkng LIT by Stsphie Ellerby with Nottinghajn Playhouse. for digitsl di51ribution. Th¢ ¢ompany $0 pr(xluced a festival of new WO Inveniing the Fuiure alongside digital swor conferen. with partners New Wolsey Theatre. Financially.. Hi8hTide h$ had a hea]thy turnover aThlends the yC4T in a Mrongand re5ilicnt FQ5ilion. HighTide tontiTrutd to bencfil from the support of major corwraie supKM)rter. iansons. Additional major 5uprrf>rner5 in the yw weTe-. Esmée FaiTbairn Foundation, Old Possum5 Practicl Trus1 Fenton Arts TrusL Harold Hy•n W1ne and Arts Council En8larKi. bjih as a Naiional Portfolio Organisalion with parate N&iord Lottcry Project Furmling for additional projttis. Our ihanks 10 all funders and individual supporters who allow u5 10 coniinue to Lh) our vital work. The organisation maintsir*d strong reserve5 in this year. chryTrsin8 to invesi free reserves tn artistic projects and rcimagining wriw ¢kvelopment in the East of England Wpsl pandemie. In 2021 Suba DAS, Artistic Director. announ¢ed he was stepping thTrwn. The Trustees of HighTi(k wish io extrnd their thanks for his leadership and welcorne Clare Sla, who JOI a5 Art151ic Dirlor and JtsirtiCEO in Autumn 2022. OWECTIVES AND AcfiviTIES Lit by Sophie Ellerby A digiial produciion of the critTrcally acclaimcd LIT by Sophie Ellerby in a ¢o-prodyciK>n wilh Nottingham Playhouse. Following th¢ success of Ils original run ai Hi8hfide Festival and Nottingham PlayIK>U in 2019, th¢ partT¢r$ fevived Iht produaion in digiial forniat. The film Teceived nation domestic audierKts and fellival aL¥Jiencc5 Latitwje and FITSI Light FeMi¥al. When The Long Trick'5 Ovtr by Morgan Uoyd M¥lrolm The firsi full scale live production since the SLqrt of Ihe pandemi4 When The Long Tri¢k's Over by Morgan Lloyd Malcolm. directed by HighTide Associate Adim Chinonyerem (>Jimba IcadiTrg a diveT54 all_female ¢reariv£ team. Whtn The Lon8 Trick's Over marked the firsi co-production between HighTide and Ihe New Wolsey Theatre, Ipswich. When The iA)Dg Tri¢k's Over opened criiical acclaim before touring acros5 th¢ East of England to pThlu¢in8 houses and community spaces as well as online auditnces. "A transfixing picture of the mentsl and physic anguish of grief Gwdion on LA)n8 Ttick 'A welcome reminder of IM)w Intimat¢ and ambitllXL8 theatst can The Stsge on Long Trick 4 STARS 'SumptllOU5 cincmati£ design and strong pcrfornww make this a 1g•t uplifting" The Stageon Lnng Trick Page I
HighTid¢ F¢stivl Prod•tttons Lirnited R¢port of tht Trll5ttes for the year eoded 31 M4rch 2022 Our S¥mmtr in Paker An audio play ¢omrDi55ion Writt by 8cD Wcathcrill aThJ (TrPrU¢ with First Li8hi Fesiival for in-person and on-line audience5. which w&5 then also made available the In¥tin8 The FuDJre Festival latrr in the y. ARTISTIC DEVELOPMENT Highlights Beyond core produaions. HighTide remained comrnilled WPFrf>ning new work and artis¢ HighTide pr¢s¢nied a weekend of neiv work in lis Inveniin8 the Fuiure festival ai Ihe New Wolsey, producing Six new play rthirtg5 by writer5 SUPPOrted through HighTide's artist development programmes in the 2020-2021 year. A series of mitTh) digital commissM>n5'Lellers from the Future. nvolved thr¢e QlTt HighTide writtr5 for a one off digiral event - in a piloi for futute developmeni of their work. In addition HighTid¢ coniinued to support the development of its n¢w commissions fxilitating workshop4 rehearsals and research periods including a series of readings of new work in developnrni * Fiot Light Festiv. Work included-. Oh We l)0 Like To Bc by writer Sonia JalY with a public sharing a5 part of First Lighi Feslival and Rally Fe51 ar (he Turbine Theaire, LOOn Thc Lies We Tell by YolJnda Mercy- a new 51w)rt play for young pcople {88ed 10- 12). It was commissioned by Suffolk County Council in parmership with MtND. in pfjrtn¢Tship with Suffolk Schools Tlwtse ROY Bury St EdmundsandNew Wo15ey Theatre Ipswich. Kabul Goes Pop by we¢d AkhtsrIld&ne of the Ethds by Zain DadallOCO-2 by Nio)le La{chalBUrnP by Kelly Jon&lWak¢ Up People by john W¢bivllEnd Cubicle by Kat Ros¢-MartiTh readings at New Wolsey Theatre. ENGAGEMEFff AND oirrREACH 21122 marked a step-change lor Hi8hTbdc in Its Enga8emeni and Ouircach 0pU[. HighTide continued lo work in parthtrship with 8iTkbe¢k University and University Easi Anglia and with Creative Nation and BFI ACemY. sUprtIng graduaies and young people into arts ro1¢5 and cr)ve ¢xp¢ri¢nG¢s. HighTide was in re¢eipi ofsignificani funds from Esmee Fairbairn. delivcring a y¢ar-longengagemeni projea This 15 Us which saw over 250 anists. cornmunity member5 and youTh8 Ptoplt tak-e part in acre4iive iivity, over 500 audience engaged wilh digiial conienr. the creation of 15 ple of original ¢Teative wnteni and a siKnifJcani deepin8of relations auoss the E&srof ETh8land wilh partners New Wolsey Ipswich. MarinaTh¢alr¢, 4YP: creal1veN10. Ipswith N¢%w Media and Aspir¢ Black Suffolk. Projecr Highlighis inclu¢Jed.. The Lullaby Project- a community Cmtive PTojed with Ipswich rtsidents. writing draMlC Te5wnses to the pand¢mi¢; ¢ulminaiing in Professional readin * New Wolsey TheatJe. Stories on Screen- a filmmaking pmject in Ipswich m*Je wilh Crcativc Nation and young people aged 15-24 from 4YP and Suff(plk Refugee Support Summer of Love- a playwriring project math with LGBTQI+ young wple aged 15-24 from Lowe5toft. developed in partnership ivith Access Community Tru5r Powcf of Storie5- a ¢tIve writing pwiccl for Blxk adults in the E35t of En818nd VIP Day- a day of c#eAtive WOTk$knps ntn for sixth forni Mtsdents from Sutrolk One arml West Suffolk Colleges Listenin8 Lowe510fi- an aciion Teswch proieci involvin8creative work5hop5 for po)pk of all ages, run in partnership with the Marina Theatre, Lowestoft Pw2
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HighTide Festival Pr041uctions Lim•ted Report of the Tru$le¢s f•r the year trtdtd 31 Marth 2022 OperatiOlI lThdi¢•tor5 HighTide tripled its digital pr¢¢¢ aDd PTe5¢Dling platforms, rrachiDg i¥or audiences whilsi reducing overall ¢nvironmen&l impaci of creative produciion. Engagemenr and inclusivity targcts wer¢ all mel with over athievemeni in the dclivery of work for and wilh youn8 people in the region. KPIS in audienceengagemeni. fimdraisingand creative development were mei. We continue io develop and #Pl our 5ySt•ns to eDobl¢ rthst atmj specifie qualitaii¥e and quanti1ve dats collection. Further success indicators.. RetentM)n of our secior-le&ling and dive r)ol of Associa Arti5LS infom)ingth¢ ambitiow4 qua]ity and dynamism of our off¢r. Rtfrtshed BoaTd. now irKludin8 key wts based and working within ihc East Of EnglarMI h¢lpin8 us further ensure the straiegic dir¢¢iion and impact ofour work as a wknle. Developmeni of governance 5trucDJTe5. emtrKdding awareDe5s arwj tnonitoring of our contribution Iht objeciive5 of our key funders and stakeholders Includin8 ACE and SCC. E51abli5hrnent of a permanent in the rc8ion, with our Stnd otriee at the New Wolsey Theatre, helping us to engage and include mor¢ of our key target •udien(ts Expandd di81] c4)xiiv (supported by SLKce55fv1 Culwre Rcwv¢ry Fuvd award through website developmenl and expertise generated through OUT C0-prc¢IlOn of LIT Dig]¢all providing u5 wilh a rnOTe dynamic resouTce 10 rtach and engage audience5. artists and aL¥Iicnr¢5. Further grofflh ofour in-region parrshIpS provided by Esm& Fairbaim fimded outreach Work in 2 Ir22 FUTURE PLANS- 202212023 Producin2 Highli2hts KABUL GOES POP- by Walttd Akhthr co-pmduced with Brixn House and Mercury ColdK5tcr and twring 2022 HE]iifNG GIKLS- c&produced with BritteTr Pears Arts and Fitst Light Fesilv 2022-23 CATCHPOLE- Final development lo production 2022_23 LIÉS YOU TELL - Suffolk County Council, New Wo15ey Thcotre and Theatre Royal Bury-St-Edmund5 touring schools SummerlAutymn 2022 Other Th¢ 2022-23 Business Plan wntinues to fo¢us adivity in th¢ East of England: a]on8Stde advoc1& for innovation and wider Inclusion in wriier developmeni nationally. Hi8hTide implemented an Advisory Courtil- a5trntt8ic initi&ive io Jvise on supwKt furLdrnisin8 aThl &TrnoT development. The council 15 rnadc up of preseni and past 8o¥d M¢mbeTS, key staff, aThJ devek)pmeni professionals aj will complement the work of th¢ Board of Trusiees and Finance aDd Audit Comrnitt¢¢. Revised EnvimvTnental Policy and A¢tion Plan reaffirmin8 Highfide's committent environmental Sustsinability Susiainability and Environm¢n¢al Re5Foll5ibilily coniinuE to b2 one of our core organisaiional values and the revised Environrnenial Policy and Action Plan reatfimis this. The rK)licy h&5 tr*en re-articulaLed through the scope and fram¢work of the UN Susiainablt Developm1 Gtsals. We will eontinu¢ io work Lowards communicatin8 our environmentsl ambiiion5 throughout evtry Itvel of Ihc or8anisaiion and ensure that 5U5tainable practices armj Jjvocating for gr¢ateT cnvironmemthl rewnsibtlity is a key foGu5 of our y¢8r round aclivity and our work in the Fast of England. Page 4
HighTt Ftstivl ProdllctiOn5 Limitt Report of Ibe Trustees r the ytxr ended JI Marth 2022 STRUCTURE, COVERJ4ANCE AND MANAGEMENT Governirjg dorllment HighTide F¢slival Prodtsciions Limited is bJth a rcgi5fcfed charity and a company limilcd by guarantec havin8 FW $hare Capital. li is govemed by 115 charitable objeers and Memorandum of ArtKlts of As%)oaiion dad 27 Juty 2007 ar amended 9 SeMetnb¢r 2009 and is non-profit distribuling. REFEREP4CE AND ADMINISTRATIVE DETAILS Registered Cornpgtsy number 06326484 (England amd Wal¢s) Registered Chirity TrMber 1124477 Registered office 24a St John Stre London ECIM4AY Trustees Timothy Nichol&s Clark Subashis (resigned 15.3.22) Nancy Ruth Durrant Iro%ign¢d 29.6.221 Jonathan PatriG Gilthrisr Diana Hiddlesion {re5i8ned 29.9.21) Vinay Sunil Kumar Paicl L£ah Alison Schmith SusJrt Elizabeth Fts5bury Matthcw David Webb (aFTrointed 1.4.21) Louise Harvey lapsx>inted 1.4.21) Auditors Anst¢y Bond LLP Sraiutory Auditors & Chartered Acc4)unian I Charterhouse Mews Lnndon ECIM6BB BAnkers Lloyds TSB 22-24 Southampton Street London WC2E 7JA P8ge 5
Highfide Festiv•l Productioms Lirnitcd Report of the Trnstees fgr the year ended 31 M4rch 2022 STATEMENT OF TRUSTEL8' RESPOf4SJBILITILS The trusttes {who are al80 the directors of HighTide Feslival Production5 Lirniied for the pvryoses of eomwy lawl are reswnsible for w¢wng the Rep)rt of the Tru$iee$ atMI the financial siaMients in xcordance with appli¢abl¢ law and United Kingdom AwunliThg Sdards (United Kingdom Generally Atcepltd Attouniin8 Practice). Company law requires tru¥ees to prepare finarKia] swements for tach fifianciaj year whi¢h give a true and fair Yieiv of the state of affair5 of the charitable company and of the inci>min8 T¢re¢S and appltcalion of re50ur(zs. including the income and expendirU. of the charitablc company for that ptricMI. In tryaTin8 t]KJse financiat Statemen ihe ITU5tee5 aTe required to select suitabk xcouniing policies and then aPY them cons¢stcntly- observe the methods and prin¢iples in the Charity SORP- make judg¢mens and eslimaie5 thai art rea50rthl¢ and prepare ihc flnancial siatemcnrs on the 80$n8C¢M bAsi5 unlE5S it is IF01*t to wesume that the chariiable company will Continue in businw. The tsw5tffs re5p)nsible for kecping prop¢r accounting rttords whicth diselose with reawnable accuTV at any tiTne the financia] rrf)sirion of the ch2ri1able cornpany and io enable th 10 th¢ fiTn¢la1 sthtemenrs comply with the Companies Act 2006. They are 50 responsible for safeguardin8 the a55ets of the thwithlc wmpany ond hence for takin8 re&8onable steps for the prevention and deiectiort of fraud and other irregularities. STATEMENT OF TRUSTEES. RESPONSJBILITJES- eoptiDy¢d In so far as Ihe irusiec5 are aware.. th¢re 1$ no Televant audit information of which the charitsblecomrAny'5 audiu>rs ¢ unaware", oTrd th¢ trust2es hov¢ lakcn #ll Stsp% that they ought 10 have tsktn to makt themselves aware of any rcl¢v3mt audit infortnation and lo eslabli5h ihai thc audito arc aware of that Inform10. AUDITORS The audiT¢Y4 Anstey Bond LLP. will be woFN)sed for re-aFy)intmemi & ihe forthcoming Annual G¢nernl Meeting. Approved by order of ihe board of Iruslce5 on 2011022 a1 sigrtd on its behf by". Susan EIi7Abeth Fosbury - Trustee Pag¢ 6
Rtptsrt ofihe Indeptndtnt A ditorS to the Members of
HighTid¢ Fcstival Produttion$ Limited
Opithion
We have audil¢d the finanGial 5¢at¢rnent5 of HighTid¢ Festival ProductKpnS Limiie4J (the £table company'l for the year ended
31 March 2Q22 which comprise the Sthiement of Financi Aaiviiit4 the Statem1 of Finl Position and notes lo the financi
statem¢nts, including a swnmary of significant accountirt8 fA)licits. The financial reporting framework that h35 ken applied in Iheif
preparation is appliuble law arml Unitcd Kingdom ArrthLnling Stwthrds (Unite41 Kingdom Generally Acccpted Accounting
Practice).
In ow opinion thr financial 51aterrb¢nts-.
give a rrue and fair view of ihe 5raie of the charitsbl¢ wmwiy's affairs as ot 31 March 2022 and of its inwming resources and
application of resources. includiTr8 its irKome and cxpenditurE for the yc¥ then cndul,.
have been properly preptred in aecordance wilh UTriied Kingdorn Genernlly ArpIed A¢¢oun¢ing Practi¢e' and
have be¢n ppared in ac¢ordan¢¢ with requiremenL8 of the Companies Aa 2Lkn.
Basis for opinion
W¢ conduci¢d wr alI irt aeeOTdance with Iniernational Stsndards on Audiiing (UK) (ISAS (UK)) and applicable law. Our
responsibilitlC5 under those 5tsndards are further dtSCTibtd in the Audilots, reswJnsibililie5 for ihe audit of the finanGial 51a¢emetbl$
seGlion of our report. We are independent of the ¢haritsble
R¢pTrrt of the lTrdepeDdtnt Auditors to the Members of HigbT•de Festiv¥l Produrtion$ Limittd Mwtters on which wt are required to POrt by exception In the lighi of the knoivledge and urMIersding olihe charithble company and its environm¢Tht obtaintyl in th¢ o)urs¢ of th¢ audii we have not identified Ma(¢r1 mi55tatem¢nts in the Report of th¢ Trusiee$. We have rthIng to wort in reScl of ihe following mallus whtTe the Companies Ad 2(K16 wuir¢s us to you if, in our opinion-. adequate aGcounting records have not bccn keptor r¢¢urns thiuate foTourJdti have not bc reeeiyed from branthe5 not visid by us,. or the financial statements are not in a8recmeni with Ihc accouniing records and r¢tyrn5' or certain dixlosuT¢S of trustees. remuneration Specified by law are made- of we ve nol receivcd all the infortnalion and explanations we rtquire forour audiL or the trusiees were noi entiiled 10 tske advamtsge of th¢ 5rnall cotnpaniu exemption the rtquirtment to prep a Strategic Rwrt or in preparing the Rert of the Trustees. Re5PQll5ibilitit5 of try5t¢e5 As explained more fully in the Staterncni of Trusttts. Re5p)n$ibilitie4 trustees {who ae also the dtreaors of the charitable company for Ihe rpOSeS of company lawl are r¢snSible for pry&ion ofihe financial statements and for king $isfIed that Ihty 8lVt a true 2rtd fair vitw. and forsuch iniemal conirol &$ ihc InJ#ees deierrnine is rKce5sary toenablcthe PT¢pardtion of financial statements that are free from Tnaterial rnisstmth( whether due to fnud 01 ettor. In preparing ihe financial sratemcTht& the iruMee5 are Tesrible foT as5e5sing thr th¥i¢able ¢OTPY'S ability to continue &s agobng ncern, disclosing, &5 applicable. matter5 relwed togoingconcern aJ)d using th¢ goingtoneem basi$of accounting unless ihe ITU5t¢es either intend 10 liquidatt Ihc Charitable eomwy or 10 cea opcraiion% or havt ryj r¢ali51iG TCrnatiVC but lo do 50. Our re$p0I5ibilities for the ¥udit of the finan¢ial ststernellts Our objeciives are io obtain reasonable assurance aul wheihcr the fina181 51Th¢tbts as a whole are free f>M mareri Missi¢ment, whether due fraud orem)f, and ro issue a Rcporrof the Independent Alt00 th•t m¢lUdeS our opinion. Reasonable assurance Is a high level of assuranct, bu( is not a guardnite ihat an wdii conducied in ac(y)rdanc¢ with ISAs{UKI will always dei¢ a tnaterial rnisstalcinenl whtn il exists. Misstaierntnis can arise From Iiaud or error and are conssdered material if. individually or in ¢h¢ aggr¢gat¢, th¢y Gould r¢ag)nably b¢ io inlluetKe th¢ th)nomic decisions of usus thken on the ba515 of thE5e fin¥nri 51atcmenis. The exteni which our procedure5 are capable of de¢lIng irregularitie4 iDcluding fraud is d¢tsil¢d klow.. In identifying arKI a5$$ing ri5ksof maierial rrbisstarcffleni in respe£t of irtegularitie4 i]Kludin£ fraud and non-compliance with law$ and regUl10s. wt con5id¢red following.. - the naiure of the industry and sector. control envimnmeni atNI business pufonnance including the design of the Company's reMunerlon rx)licies, key drivers for directors, remUneI0n. Icvels and pcrforynan¢E iar8cts' - results of our cnquirics of rnanagerD¢llt ai%)ut their own id¢ntifirAion and tssessment olthe risks of irregulariiies., - any tnatters we i(kn(ified having obtained aDd reviewed the Comwy's dowtnentaiion of their p)licies and procedures relaiin8 10."- ideniilyin£. evaluaiiftg and complying with laws and ¥egularion5 and whether Ih¢y were aware of any TllStan¢es of tn(OlP11an¢e;_ detecting and reswrKEing to the Ti$ks of fraud and whether they have knowledge of any a¢iual. suspectcd or alleged fraud,.. the interr1 (y)ntTo15 ¢thli5hd to tnitiga¢ risks of ftaud or non-compliance with laws and regulaiions., - the matteTS disc$Sed 8mon8 the audii engagement team and involving relevani inkmal specialiM5. inclLEding tax and IT specialists r¢8arding how 2rn1 wh¢Te fraud migh¢ o¢¢ur in the financial statements and any rMTrieniiaJ i[¢ca10r5 of fraud. P4¢8
Report of the Independent Auditors to the Membtrs of Hi2hTidt Ftst•val Productions Limit Our responsibilitiÉS for tht audit of ftht fitt#ht•l statsments... tontiued As a result of thes¢ procedur. we considered the opp)rtunitie5 and intentives th may exist within the organis&tion for froud and identified the greatest P)tentI foi frattd in relaiion Lo revenue deftrral& In common with all audits under ISAS {UK). we are also required io perform SPlf1¢ proceduTes to resw)nd to the risk of mana8tmeni 0vurj We also ob(ained an understanding of the legaj and Tegulatory framewotks th Lhe G)mpany 0rateS in. focusing on provisions of thos¢ laws and regu12tions Ihathad adirtd effecion 1hedeiermin•onof materi amounts and disclosurts in ihe financial staiem¢nls. The key law5 and regulation5 we considcred in this (x)nÈ¢xt irtludal the UK Companies Aa and local M leslatiOn. In addition, wt eonsidertd rxov15ions of other laws and gUI10$ that fKJ¢ hav¢ a dirtci effect on the financial 5tat¢ments but mpliance with which rnay be fundamenth] to CoMpY'S ability to ormte OT to #void a pet)a]ty. Amdit rtsponses to the risks ident•fd Our prLKedur¢s to reSpd ¢0 risks identified irtluded tht followins". - reviewing the financial SleMent di%losurt$ and verifying thtOU8h ObnIng suprKJrting documentation lo a55C55 cornplianct with PTovisions of relevani laws and regulTron5 de5Uit¢d a5 having adireo effect on the financial 5tatem¢nts.' - enquiringof managem¢ni arKI ¢x¢¢Tnal It1 wurtsel concernin8 aclu and rntIal liliglOn and c13im5' performin8 alyt1¢al pll)cedures to ideniify any unusual OT UD¢XFtrted rel&ionships may indile risk5 of material mi5Statemeni due 10 frnu. - reading tninults of tllttlinEs of thst charged with governarw and reY¢ewing rcgul8tory WrreS1enee obtained an understsnding of provisions and held discussions with management io urthrM)d the b8sis of Tecognition or- non-T¢cogniiiofi of lax provisions. and in addressin8 the risk of fraud Ihmugh magement override of ctyjtyoli testing the appropriatesS of Jrn entries and other adjustsnents: &ssessin8 wherher the judgements made in tnaking a¢wunting estimates are indicaiive of a tential bias," and evaluatin8 tht business niionaJ¢ of any significanl tran5aCtion5 that are unusual or outside the nomial course of business. Wt also communicated relevant idenrified laws and rc8ulaii0fi5 and p)ttIo1 fraud Tisks to all engagemeni team membets including internal spe¢i#lists and signifi(nt (x)m[x)nl audit ieams. and remained ern ro any indictN$0f fraud 01 Th)ncompliance wilh law5 nd regulaiions ihroughoul the audit. A fvriher descsiption of our reSnsIbIlI11&% for thE audii of the fin181 statements is located on the Finamciaj R¢wrting Covneil's wtbsilt ai www.frc.0r8.uklaudirsT¢srnSlblliI1c& Th¢s descripiion forms part of our ReFK)rt of the Indndent AuditoTh. Use of our report Thi5 report is made 501ely lo Ihe charilable compan$ Tnembers. as a ldy. in accordance wilh Chapter J of Port 16of the Companie5 Act 20Q6. Our audit work h&$ been undenen so thai we mighi sw¢ ¢(> th¢ ¢harithble company's members th0 matters we are required 10 State 10 Ihern in an auditors, rcwjrt and foT rto oihcr wrrx)sc. To the fvlle5t extent ptrtnitted by la%¥. we do rK)i accept or assume resrM)nsibility ro anyt¢ other ihan ihe dwitabk Ix>trbpany and the chaTithble company'5 wnernb•s as a body. for our audit work. for Ihis re0 or for the opinion5 we have fornied. Colin Ellis FCCA CF {Scnior Statulory Audiior) for and on behalf of Ansiey 8ond LLP Siatulory Audiiors & Chartered Aco)untants I ch&rt¢rIKIL Mews London ECIM6BB 2011212022 PaBe 9
Hiihfidt Festival Pvodtt¢tions Limit Saternent of FiA2neial Activities Ilncgrpor4ting Int•me and Expendbture Actouptl for the year ended 31 March 2022 2022 Tot fuNis 2021 Totsl funds Unr¢siricteAI fvnd Resirirted fvnd Notes INCOME AND ENDOWMENTS FROM Donation$ Itgacies 6.476 6.476 Charitable attivitits Co-Producers Income Theatre tsx credits Other pr(Kluction inwme 17,821 17.821 (6,074) 7.515 12,183 Fundraisin8 income Other income 430.761 430.761 4,494 Total 471 735 476 162 EXPENDITURE ON ChritAble activities Production fees Creaiive fee5 Accomrnodation and subsisi¢nc¢ D¢velopmeni and IK>5pithIity Artistic devtloptnetbl General adtninisiraiive coys Sff c05t5 Premises costs Accountsncy Advtriisin8 arKI publicity 61.721 27.416 17.041 27.126 8.393 25.096 239.053 80.063 8.828 24.858 61,721 27,416 17,041 27.126 8.393 25,096 239,053 80,063 8.828 24.858 17,618 5,686 5,020 10,618 155,Q42 75,QOO 6,258 4.160 Other 35.794 Total 555 389 555.389 NET INCOMFJIEXPENDITURE) (83.654) {83.6541 176,052 RECONCILIATION OF FUNDS TO1 funds brought fonvard 211.IN)5 211.(M)5 34,953 TOTAL FUNDS CARRIED FORWARD 127 351 127351 The note5 form part of these finaDciai sta*mts Page 10
HiEhTide Festival Productions Limited Stattmeht of Fiontial Position 31 M4rrb 21122 2022 Totsl fijnds 2021 Total funds Unrutri¢ted fvnd Restria fund FIXED ASSETS Tangibl¢ aSts 928 928 956 CURRENT ASSETS Debiots Cash at bk 20.689 20.689 166.245 46,040 177.986 186.934 186.934 224.026 CREDITORS AmcMJrt fallinR due within one year (60.511) (60.511) (13.977) NET CVRRENT Asstrs 126423 126423 210.049 TOTAL ASSETS CURREDff LIABILITIES 127.351 127,351 211,(K)5 Nrr ASSETS 127.351 127,351 Fuf41)S Unre51ricted fijnds 10 127 351 TOTAL FUNDS 127,351 financi statements hv¢ be Pr¢ed in ¥wrdart¢ with th¢ wo¥isioNs applicable io th¥1]e companic5 subject to the small companies re8im¢. The financial staiements w¢re approved by the Board of Trusiees and aUt)sed for issue on 20112r2022 and were signed on its behalf by: J) Susan Elizabeth Fosbury- Trustee The no9 f<m (pf these finatscial Stslernets Pa8e 11
HighTe Fe5tivl Prodlltlions iAmited Notts to tht Fioanti%l Statemeots for the ye4r ¢Ddtd 31 Marth 21122 ACCOUNTING POLICIES Basis of preparing the finantil statemets The financial statements olihe charitablc C4)mpany. which 15 a public benefit cntity unlkr FRS 102, have been prtpared in accordance with the Charities SORP {FRS 102) 'Accountin8 and RerMTrrting by Charitie5.' Statement of RerA)tnmended Prxtice applicable to thariti¢s preparing their ants iTt w)rdan with the Financial Reportin8 Sthndard applicable in the UK and Republic of Ireland IFRS 102) leffeciivc l January 2019}'. Financial ReF¥)rting Standard 102 'Tht Financial Reportin8 Standard applicable in the UK and Republic of Ireland, aThd the Companies Act 2006. The finao¢ial statements have ten pr¢partd under th¢ historitai coa eonvention. FinAntil ttporting stsndard IIIZ- red¥ttd discjosuwt exempl5 The charitsble company has taken advant88e of the followin8 disclosure eMPl10n$ in preparing th¢K finanGial staterntn as permitted by FRS 102 The Financial ReFoning Slarthrd appliabk in the UK Republic of Ireland.: the requirements of Scciion 7 Sthiemcni of C45h Flow5. Intom¢ All incornc is rccogni5ed in Ihe Sratem¢nl of Financial Adivitirs once the charity h&$ eniiikmtni to the fijnds. it is probable thai the income will be reeeive4J and the aTh>uni can trK mc45ured reliably. Govtrnmttsi Gran15 The Charity is on Arts Court¢il Engld rtalton rtfoliO orgarttsatK>n. As a result ofihi5 StaDJ5 they rcceived £237.188 (2021.. £273.1801 in grdnis from this governmen fvnd1 organi5ati0n. Expthdituwt Liabilities art rteO8nlStd a8 exptnditure soon as IheTe is a legal or construciive obligaiion rornmitting the charity to that expendiiure, it 1$ probable thai a trni$ferof ets)]k)mic bthefits will be rtquired in selllemeniarHS ihe gJnounl ofthe obligation an be measured reliably. Exp¢ndiiure 15 accouDied f¢r on an attruals bÈsi$ and has been cl&ssified under headings that a8gr¢gaie all cosi Telal¢d io Ihe caie80ry. Where costs cannot be dir¢dly attributed (o particular headin8S they have been located io &tiWiiies on a b&sis coAsiSteni with the ts5e of rewurce& Allotxtion and xpporti¢nment of tosts In accordance with the tharity SORTr. HighTi4k kat¢s ¢OSts inturred ditethly fmm utxlertakin8 xiiviiie5 ihai contribute iowards our charitable objeciivcs 10 charithblc 1¥1 expendiiu Th¢ support Costs of the ¢harity ar¢ allotatrd to each (aritsble activity b&soJ on tht amouni of iimc spEni on eath activity. Tngible fixed assets PrOrtY, plani and quipmeni are carried & cost Icss accUmulad deprxiation. PrOrtY, plant and quiptnenl is initially measurd at O)SL Cost inclth all exwdiiure which is directly attributable th¢ 8cquisilion or construction of the &%sei: includin8 Upitalisation of born)wing rost5 on qua]ifyiTrg assets, and &ljusimenrs in respect of hedge accoJntin& wheTe appropriate. Deprecialion 15 charged over the u%ful livcsof items of propcrty. pl¢ and tyuipm¢nt have been &ssessed fo1)Ws.. Dtpreti#tio# metbod Siraight line Useful life 3 years Computer equIprn1 The residual val. useful lift and deweeiaiion meihod oftxh a5sci are reviewed the crnl of repDrting year. If iht e%ptciations differ lyom pTevi0 ¢Slitnates, the change is acrnunied for wospecirvely a change in accounting estimate. The dryr¢¢iho charge for year 15 r¢cognised in profit or loss a¢cowiL Page 12 Continu...
HiEhTide Fes¢iv¥l ProdyrtiOn5 IAmited NotL8 io the Finncig1 StAtements- ¢ontiDued for the ytwr ended 31 mrch 2022 ACCOUNTING POLICIES- Tatbgible fix¢d assets Impairmentie51sarE perfom¢d on tpelty. pl1 )d eqthirtheni when there 15 an indicator thattlw may be impaired. WhtTh the carying amount of an item of propErty plnl and equipment is e$Sed to bc hi8her than rhe ¢5timated re¢overable amouni an impalm1tl Ioss 15 Tecogni5ed immediately in profit or loss. An iiem of pro]w. planr and equipment is derecogni5ed upon dis$2] or when Th) fvwre ecorK>mK Fthefits are ex1¢d. Any gain or los$ arising from ihc d¢r¢cognilton is included in profit or TAxition The charity is exempi from corporation on its charithblcadiviii Fund 4c¢oiiriting Unrcsiricted funds ean bc used in accordance with the charitsblc objertivcs at the dis¢rdKJn of the ttwsiee5. Rtsliitied funds can ortly used for partitsjlar ren¢ted pUrSe$ within thc objects ofthecharity. Restrictions arisc wherb 5pccificd by the donor or whcn raised for particular rtricted PU4M)se Furthtt explanation of the na(tsTt and prSe of cach fijnd is included in th¢ rM)t¢5 to the finartcial siemcnts. Hire purtha$e #Dd leastnt tommitmtnts Rentals paid under operating IrA5¢5 are ¢harg<l to the Stattsnts)i of Financial ActiViiiC5 on a 51rdight line basis over the period of the lease. FUNDRAISING INCOME 2022 2021 Commission income Grdnts Legacies Donations 7.850 318,855 22,5) 335,181 21,IXJO l(M),930 430761 NET INCOMFJIEXPENDITURE) Nct inwmejlupcnditure) 15 Stated after chl(credI11n8)." 2022 2021 Auditors. remuneration Depreciation- oivned Othtr operatin8 It& 8.828 28 6,258 27 Page 13 continued...
HighTidt Festival Produttions IAmited Notes to ttse Finn¢ial StAtements- contiTht for tht yer tnded 31 2022 TRUSTEES, REMUNERATiof4 Af4D BEf4EFITS During the Period. Das r¢¢eIV remuneration of £44,399 (2021.. £42,272} for his suvicts as Art151ic director. Trusttes. expeAsts During the pertod experor£42 {2021.. £3.166) wcrcpaidto Suba ttss. Thesewett in Te18tion iotravel and accommodaiK>n for charithble activiiie5. STAFF COSTS The average monthly numberof employets durin8 the year W&$ &s follow5.. 20T2 2021 Office Staff No ¢mployees rteeived emoluments in excess of£60,(KM). COMPAK4TIVES FOR THE STATEMETrn OF FtNANCIAL AcfiviTIL8 Unrestricted fvnd ReTiCkd nd Total funds INCOME AND ENDOWMENTS FROM Charitsble 4Ctivities Theaire credits Oiher prfyluction Income (6,074) 7.515 16.074) 7,515 Fundraising incom¢ Other income 17.610 Totsl 476 162 476 162 EXPENDITURE ON Charitabl¢ artivi¢ir$ Production ft¢s Creative fees Aecommodation and subsisien Artl$lic d¢v¢lopmeni General adrninistrativc wsts Siaff costs Premises costs Aco)untancy Advertising publicity 17,618 5.686 5,020 17.618 5.686 5,020 10.618 155,042 7S.(N)O 6.258 4.160 10,618 155,042 75, 6,258 4.160 Other 9.527 9.527 Tot#1 NET INCOME 176.052 176,052 Page 14 continued...
HighTidt Festiv1 Produrtions Limited Notes to Iht Financil S14tements- eoDtinued for the yt*r ended JI Marth 2022 COMPARATIVLS FOR THg srATEMENT OF Fif4ANCJAL AcfiviTIES- tontinued UnTestricied Restrtcted fvr#J fijnd Totsl nd5 RECONCILIATION OF FUNDS Total funds brought forward 34.953 34,953 TOTAL FUM)S CARRJED FORWARD 211.005 TANGIBLE FIXED ASSETS Comper equipment COST Ai l April 2021 and 31 Mar¢h 2022 983 DEPRECIATION At l April 2021 Chargc foryeaT 27 28 At 31 March 2022 55 NET BOOK VALUE At 31 March 2022 928 At 31 March 2021 956 DEBTORS: AMOUNTS FALLINC DUE WITHIN ONE YEAR 2022 2021 Trade debtors Other debtors VAT 480 38,174 5.247 2.619 7,018 Prepayments and xcrned income 46.040 Pa8e IS CL)nt¢•ucd...
HigkTidt Ftstival Prodwdions Limited No¢t5 to the FioaDcial St•ttments- tontiNutd for the yer ehdtd 31 Mr¢h ZOZ2 CREDrroRS: AMOUNTS FALLING DUE WITHJN ONE YEAR 2022 2021 Trade creditors So¢ial se¢urity ond other t&xes Accrued exp¢nse5 10.520 6,107 3,501 4,476 io. MOVEMENT IN FUNDS Nei movement in fijnds At 31.3.22 Ai 1.4.21 Unrestricted fund5 G¢rteral fuThJ 211,(O5 183.654) 127,351 TOTAL FUNDS 211.IK15 83 654) 127 351 Net movtmeni in fvnd5. Incl in the aknve are as follow3_' Incomi Rcsourtts peTrdtsl Movemenr in futJJ5 Unrestritttd funds Gcnevdl 471.735 1535.3891 {83.6541 TOTAL FUNDS 471735 555.389 83 6541 Comparatives for movement io f*nd$ movement in furxls At At 1.4.20 Unrtstritted fuud5 General fur 34,953 176,052 211,005 TOTAL FUNDS 176.052 211005 Page 16 coniinued...
HiglTidt Futival Pmdurtious Lirnited Notes to the Finntil Statements- tothtinoed ror the year eJJded JI Marrh 2022 10. MOVEMEfff IN FUNDS- cowtinued CompaTativc nct 1n0vemeI in fund%. included in the above art as follows.. Incoming Resources txpend& Movetnent in fund5 Unrestricted funds General fund 476.162 (3.110) 176,052 TOTAL FUNDS 476,162 3110) 176052 A current year 12 months and Prior year 12 months combind p)sition 1$ as folkjws.. Net ovem¢nt in fUJ5 At 31.3.22 Ai 1.4.20 Unvtstvicted funds General fvnd 34,953 92.398 127,351 TOTAL FUNDS 92.398 127J51 A current yeaT 12 months and priory 12 months combined net movement in fijnds, intludtd in the abovt &$ follows.. Incoming Resour¢es expended Movement ID funds Vttrtstrieted funds Gtnttal fvrbj 947,897 {855,499} 92.398 TOTAL Fuf4DS 855 499} RELATED PARTY DISCLOSURFS There w¢re no r¢laied party tTrnsacijon5 for they¢¥ ¢ndol 31 Marth 2022. Pa8t 17 continued...
HighTidt Ftslivl Prod4tt•Ms Limited N•tes to the Financial Sttements- tontiDu¢d the year ended JI March 2022 12. AUDITOR LJABILITY LIMITATION AGREEMEKr The charity ha5 enter in to a liability lirnilation agretThen4 with a m&ximum liability of £1.0). 13. COMPANY STATUS The ch&rity is a Company limited by guaranttt and has sh*e capithl. There are 13 munber5 and the liability of ea¢h member in th¢ eveni of wirOing up 15 limii¢d to £1. Page 18