## **Celebrating books by the sea**
## **BUDLEIGH SALTERTON LITERARY FESTIVAL**
## **Charitable Incorporated Organisation (CIO) Registered Charity No. 1127885. Trustees’ Report and Accounts for the year ended 31 December 2021.**
The Trustees present their report for the year ended 31 December 2021 to be read in conjunction with the attached Financial Statements.
## **STRUCTURE AND GOVERNANCE**
With the approval of the Charities Commission, Budleigh Salterton Literary Festival changed its status from that of a Company Limited by Guarantee (No 6758203) to that of a Charitable Incorporated Organisation on 30 June 21.
The charitable objectives of the Budleigh Salterton Literary Festival are:
The advancement of education for the benefit of the public in East Devon by the promotion of the arts of Literature, poetry, the written and spoken word and related arts. In particular by fostering and supporting the work of the Budleigh Salterton Literary festival.
The Trustees are elected at the Annual General Meeting.
## **MAIN ACTIVITY AND PUBLIC BENEFIT**
The main activity is the funding, organisation, and promotion of the annual Budleigh Salterton Literary Festival. Festival events which are open to and attended by members of the public from across the community. The Budleigh Salterton Literary Festival celebrates books and their authors and promotes the art of reading and the enjoyment of writing in our East Devon community and in our local schools. In 2022, the charity is running a special appeal to raise money to provide books for children who have been adversely affected by a lack of school time during the pandemic.
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**
The status of the Budleigh Salterton Literary Festival (BSLF) changed from a Company Limited by guarantee to a Charitable Incorporated Organisation in June 2021 with the approval of the Charities commission. This is therefore the first review following the change of status. Whilst fully cognizant of Covid regulations, the BSLF Trustees decided to go ahead and plan a full festival in September 2021 as the forward financial outgoings were limited and costs would remain low if forced to cancel. Ticket capacity in each venue was reduced reflecting the current Covid regulations. 44 events and workshops were held in 7 different venues over 5 days plus 12 events including free activities for children and families. Sadly, due to Covid protocols, only one event was held in schools during the festival. Instead, a children’s author, Caroline Lawrence, recorded an event on line which was distributed with 800 copies of one of her books to 12 local primary schools. The positive response of the local community to the return of the Literary Festival in Budleigh was overwhelming. Thanks are due to our talented and creative artistic director and a dedicated committee together with a team of willing and enthusiastic volunteers.
## **Celebrating books by the sea**
In January 2022 the BSLF launched an appeal ‘Books for Kids’ to raise money to buy books for local school children, many of whom had been adversely affected by lack of school time over the past 2 years of pandemic. Money was also spent on purchasing copies of books in Afghani for local refugee children.
For the first time the BSLF held a Spring festival weekend in March 2022 with four events in one venue. We plan to continue to hold this event annually. Plans for the 2022 festival are underway with subsidised prices for family events as well as free family activities during the festival. The schools programme of events will now take place in schools and colleges in October 2022 reflecting our vision of celebrating books and promoting the art of reading and enjoyment of writing in our local community.
## **FINANCIAL REVIEW**
Total income, net of VAT, amounted to £138,802 (2020 £36,622), expenditure amounted to £124,345 (2020 £48,293 ) This resulted in an excess of Income over Expenses of £14,458 for year ended 31 December 2021 (deficit 2020 £11,672) to add to 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 charity.
## **RISK POLICY**
The Trustees have considered all risks to which the Charity might be exposed with special focus in 2021 on continuing Covid-19 national restrictions relating to physical safety and the need to protect the ongoing financial security of the charity.
## **ADMINISTRATIVE INFORMATION**
The Trustees as at 31 December 2021 were
Chairman Sue Briggs Vice-Chairman Rosemarie Davis Treasurer Ruth Jones Trustee Jane Burton Trustee Education Jennie Milverton Trustee Jackie Collins Trustee David Cornes Trustee Carol Ackroyd
## **BUDLEIGH SALTERTON LITERARY FESTIVAL**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
for the year ended 31 December 2021
|**STATEMENT OF FINANCIAL ACTIVITIES**
**INCLUDING INCOME AND EXPENDITURE ACCOUNT**
for the year ended 31 December 2021||||
|---|---|---|---|
||||**2021**
**2020**|
|**Income from Donations**|Sponsors and Advertising||£
£
14,400
5,325|
||Donations||14,430
21,336|
||Friends||5,812
4,755|
||Income Tax Recovered||2,000
1,642|
|**Charitable Activities**|Ticket Sales||93,888
3,111|
||Book Sales and Other Sundry||8,272
453|
|**Total Income**|||**138,802**
**36,622**|
|**Less**
**Expenditure on**||||
|**Raising Funds**|Administration and Printing||5,914
2,023|
||Advertising and Publicity||20,427
9,470|
||Commission on Ticket Sales||5,655
184|
||Other Expenses||6,982
5,929|
|**Charitable Activities**|Speakers Fees||18,153
2,870|
||Speakers Expenses||7,831
507|
||Purchase Books||9,157
387|
||Hire of Venues||14,362
673|
||Venue Expenses||12,100
6,209|
||Outreach Education||4,522
477|
||Consultancy Fees||19,241
19,565|
|**Total Expenditure**
**Excess of Income over Expenditure**
**Tota Funds brought forward**
**Tota Funds carried forward**|||**124,345**
**48,293**
14,458
-11,671
-11,881
-210
2,576
-11,881|
|**BALANCE SHEET**||||
|**as at 31 December 2021**|||**2021**
**2020**|
|**Current Assets**|||£
£|
|Debtors and Prepayments|||3,810
2,002|
|VAT Refund|||15,031|
|Balance at Bank|||68,765
70,211|
|**Total Current Assets**|||87,605
72,213|
|**Less**
**Current Liabilities**||||
|Creditors and Accruals
**Net Assets**|||1,500
566
86,105
71,647|
|**Total Funds (unrestricted)**|||86,105
71,647|
|Approved by the Trustees on 19th April 2022||||
|Signed by Ruth Jones on behalf of the Board of Trustees.|Redaro|,||
4/9/22, 7:52 AM
LITFEST2022 Report.jpg
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