**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. - 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 - 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**| |**Income from**||£
£| |**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**| |**Less**
**Expenditure on**||| |**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| |**BALANCE SHEET**||| |**as at 31 December 2019**||**2020**
**2019**| |**Current Assets**||£
£| |Debtors and Prepayments||2,002
1,218| |Balance at Bank||70,211
83,423| |**Total Current Assets**||72,213
84,641| |**Less**
**Current Liabilities**||| |Creditors and Accruals
**Net Assets**||566
1,423
71,647
83,219| |**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: 1. they acknowledge their responsibilities for complying with the Act with respect to accounting records and the preparation of accounts 2. the members have not required the company to obtain an audit of the accounts for the period under Section 476 of the Act 3. 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 Ruth Jones Re: BSLF 151031202108.25 BSLF 2020 Notes and Independent Examiner's ReporLdoc IUIILtIE*H i uri LI I I IVAL NOTES TO 2020 FINANCIAL STATEME14TS 0•51s ol w•p•ratlo• Th• tlntnCI￿ stsl•m•nis h*• b••n pr•par•é an •n lttfu41¥ Iw*i ￿d•1 th• thlthwlc t•# c•)n¥tnilovJ. we UN￿ls1¢nI C4Jnwfiit$ 2006. the ALI 2011 tht •rn¢MI (* Il•cMirn•ndod PrKilc• "AccDunilry A•portlfi9 ty Ch•riii•x" applk*bl• dwilii•s w•pailnq In Kcordan¢• Flmftelal 114(wtlThg siandird I￿. Accountln9 poll¢l•s In¢offtlno t•sourt•s ai• foeoonii•d *h•r• Ih•r• ts a *•1 •nlltl•ffl•nt 10 r•t•lpt, 4nd th• amouni known wéth feason•ble ￿*￿￿ty Rp4our¢v4 eyp+Thded re¢oonlitd ￿•1• iheie is 4 ley•l or 0ynitiuct1￿ obIlwk￿ lh• •xp•ndltur•. Dlr•¢torlYrusiÈe r•mun?TailDn and rel4t*d yny traniactians Ilfj tlrwtOflTry$i*• t•￿1¥•￿ thilnq th• y•4r. 7kn• w•1• p•ny trathuctloni r•qulrln• aKlowt•. Comp•ny IlwRil•¢ ty gu•roni• Th• CthTbpany hu A) thar• t￿11•1 pty thkndi. Th• &*lllty at th• ffl•mb•rs •n ¥J*ndlfig UP the compifty ts Ilrnittd e4ch, INDEPENDENT EXAMJNER'S REPORT TO THE TAv¥fEES OF •UDLEIGH &4L7ERTON LITERARY FE5fivAL l Mport M th• •¢counii rf lh• thull•*k e•mp•ny kn th• y••r •nd•d ai OK*wJb•T 21120 w• i•t wi on pw 2 th1$ p•g•. Pe¥pe¢ii¥• r•wtyTrslbl lili*s •1 mi¥t¢¢i •n¢ Ind*p¢ftdint •xornintr The truit•Q*. alé a*Jo dlr•¢iors of thé company, afl respmsible l¢r th• pityar&tsofi ol Ihè ¢ounii, The trMie•s ￿n￿O•1 ihii ￿ wdll li wi ￿4￿1r•I fw Ihls ye4r unrf•i 144(2101 I￿ ChaFllleJ th¢ 2011 {Ihe 2011 th•t w indepenlpnl tXiffliMii•n Is rntdeo. 11 It rny mWn￿oI1&(Y 10 mlfvt Ihe Kcounu mdei srtllun 145 the 2011 kl I￿10￿ thp Pfo¢odui•i l*d In the GqNral Dlrntttlfjni *••n by Il* Clwlly Commliiion und•r L4515)Ibl ot lh• 2011 Md aasls ol l¥Trd*peTrth*nt •umln•T'I r•pori Q￿mInall0n CAfra•d In #tor41rt0 *lt* GM•r41 Dlr•¢ilons. M •xambn•tlon In¢lvdei • revlew ol tht •¢¢ouniln• iecoTd3 Ir•pr ty the ch•rlt•tslt (•nyany 4n# • ¢ompafigon f Ihe urauNts pi•s•ni•d wlth Ihos• r•coid5. It 1150 lrnlud•s ¢0•5itsr•ilon of 4ny II•rni élsclowr•s ￿ ith• x¢ounii and s••klAg •xrthatlaffis from th• tnKI••s UJn¢•rnlAg •ny •titii, The pro¢edure$ Ilo pio¥ide all the Trldenc¢ would b¢ v¢qulied dlt. cofis•qy*ntly Th) rjpinlon 15 tt* wh•th*r the x¢aunt5 W•S*Y•t i ITU* Wr Ind•peTrdint •urDln•r'i M•i*m•nt ift ￿0￿ClI0n rny •K4mlnau•n. •• m•rt•f P41 Corn• • ay •(t••tlofv l. *hl£tt qlt•Yi rn• r••son•bl• cwJs• w Imllfft thu. kn •ry ffl*•ri41 Tr5PKt. th• T•qulreffj•fftts." •p •x¢o¥nunB r•¢ordi In xMr4anc• *1111 5K(lon al th• Cfjmptni•s zi)00. y•p•r• thxfjid T*th l&• ¥¢•unllrt4 r•rwdi •*d ¢i¥nply S•rtl•N 310 ot lh• CowTriM 20N, *rth ￿ st*tsffl•fti rf RKofftm•nd•d ￿trA￿l -Ar¢o￿lI1n1 •n# Reporniny ty C￿rIlle¥. nw• noi fflw: •1 2. to in ffly