BUDLEIGH SALTERTON LITERARY FESTIVAL
Company Limited by Guarantee No 6758203, Registered Charity No. 1127885. Trustees’ Report and Accounts for the year ended 31 December 2020.
The Trustees present their report for the year ended 31 December 2020 to be read in conjunction with the attached Financial Statements.
STRUCTURE AND GOVERNANCE
The Company was incorporated as a Private Company Limited by Guarantee on 28 November 2008 and as a Charity on 4 February 2009. The objects of the company are both A and B below, and for the Charity just clause A.
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A. for the advancement of education for the benefit of the public in East Devon by the promotion of the arts, poetry, the written and spoken word, and related arts by fostering and supporting the work of the Budleigh Salterton Literary Festival; and
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B. to support such other local charitable causes in East Devon as the Directors see fit.
The Trustees, who are also the Directors of the Company are elected at the Annual General Meeting.
The Trustees are in the process of converting the status of Budleigh Salterton Literary Festival to a Charitable Incorporated Organisation (CIO), however, at the date of this meeting the change in status has not been agreed by the Charity Commission.
MAIN ACTIVITY AND PUBLIC BENEFIT
The main activity is the funding, organisation, and promotion of the annual Budleigh Salterton Literary Festival. Festival events are open to and attended by members of the public from across the community. The Trustees have paid due regard to the relevant Charity Commission guidance and consider that the activities outlined in this report meet the public benefit requirement for charities.
REVIEW OF THE YEAR
Due to the outbreak of a global Covid-19 pandemic in March 2020 this years’ main program in September 2020 had to be delivered, primarily, on-line. It was agreed that there would be a focus on the collection of donations as a way of funding the on-line program. One event was delivered ‘in person’ due to the loosening of restrictions in September 2020 relevant Covid-19 protocols followed. A school’s program for 2020 was unable to be considered.
FINANCIAL REVIEW
Total income, net of VAT, amounted to £36,622 (2019 £138,066), expenditure amounted to £48,293 (2019 £113,044). This resulted in a deficit of £11,672 (surplus 2019 £25,022) to reduce Reserves.
RESERVES
Due to unforeseen national Covid-19 restrictions the Trustees were fortunate that the accumulation of reasonable previous years’ Reserves allowed them to fund on-line activities, consistent with the objects of the company and charity.
RISK POLICY
The Trustees have considered all risks to which the Charity might be exposed with special focus in 2020 on Covid-19 national restrictions relating to physical safety and the need to protect the ongoing financial security of the charity.
ADMINISTRATIVE INFORMATION
The Directors/Trustees during the 12 months were
| Chairman | Malcolm Elliott | Vice-Chairman | Rosemarie Davis |
|---|---|---|---|
| Financial Director/Secretary | Ruth Jones | Director Hospitality | Sue Briggs |
| Director for Booksellers | Jennie Milverton | Director for Outreach | David Marston |
BUDLEIGH SALTERTON LITERARY FESTIVAL
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
for the year ended 31 December 2020
| for the year ended 31 December 2020 | ||
|---|---|---|
| 2020 2019 |
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| Income from | £ £ |
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| Donations | Sponsors and Advertising | 5,325 7,700 |
| Charitable Activities | Donations Friends Income Tax Recovered Ticket Sales Book Sales and Other Sundry |
21,336 9,172 4,755 5,705 1,642 1,688 3,111 102,937 453 10,865 |
| Total Income | 36,623 138,066 |
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| Less Expenditure on |
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| Raising Funds | Administration and Printing | 2,023 7,733 |
| Charitable Activities | Advertising and Publicity Commission on Ticket Sales Other Expenses Speakers Fees Speakers Expenses Purchase Books Hire of Venues Venue Expenses Outreach Education Consultancy Fees |
9,470 12,616 184 8,250 5,929 6,823 2,870 19,970 507 10,083 387 4,416 673 3,617 6,209 16,668 477 7,173 19,565 15,696 |
| Total Expenditure Excess of Expenditure over Income Tota Funds brought forward Tota Funds carried forward |
48,294 113,044 -11,671 25,022 24,812 -210 13,141 24,812 |
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| BALANCE SHEET | ||
| as at 31 December 2019 | 2020 2019 |
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| Current Assets | £ £ |
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| Debtors and Prepayments | 2,002 1,218 |
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| Balance at Bank | 70,211 83,423 |
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| Total Current Assets | 72,213 84,641 |
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| Less Current Liabilities |
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| Creditors and Accruals Net Assets |
566 1,423 71,647 83,219 |
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| Total Funds (unrestricted) | 71,647 83,219 |
For the period ended 31 December 2020, the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. The Directors confirm that:
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they acknowledge their responsibilities for complying with the Act with respect to accounting records and the preparation of accounts
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the members have not required the company to obtain an audit of the accounts for the period under Section 476 of the Act
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the accounts have been prepared in accordance with the provisions of the Act relating to small companies
Approved by the Directors and signed on their behalf by
14th March 21
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