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 2022.
The Trustees present their report for the year ended 31 December 2022 to be read in conjunction with the attached Financial Statements.
STRUCTURE AND GOVERNANCE
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 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. A new initiative for the 2022 Festival was to subsidise the costs of events and workshops for children and families in addition to offering free activities. During 2022 the BSLF charity worked with 22 different local primary and secondary schools involving 4485 young people. The charity organised author visits in these schools and provided copies of set texts to schools working in partnership with The Bookery bookshop in Crediton. The charity continues to run 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. Another new initiative was book swap run in a beach hut on the seafront. This was successful and will be repeated.
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
This is the second review since the status of the Budleigh Salterton Literary Festival (BSLF) was changed froma Company Limited by guarantee to a Charitable Incorporated Organisation with the approval of the Charities commission. In addition to the main festival the BSLF Trustees decided to go ahead with a Spring Festival Weekend of4 events in March 2022. This was popular and profitable providing a range of interesting events with inspirational authors. The main festival programme, the first full festival for 2 years due to the pandemic, was all ready to go ahead from 14 September 2022. The death of her late majesty, the Queen and the subsequent morning period announced meant that the BSLF Trustees had to make a quick decision as to how to proceed. Following published protocols, the Trustees decided to go ahead with the festival but would cancel the planned reception for Festival Friends and held a minute’s silence before the first event. This sensitive approach was well received by the local community and did not impede the Town and County council protocols for books and gardens of remembrance for the late Queen in Budleigh Salterton. The programme of 53 events and workshops and 17 events for children and their families went ahead over five days in 7 different venues. Heartfelt thanks are due once again to our talented
Celebrating books by the sea
and creative artistic director and a dedicated committee together with a huge team of willing and enthusiastic volunteers. Sadly, a week after the festival concluded, Dame Hilary Mantel, the festival president died. A huge loss to the festival and the whole Budleigh Salterton community.
Author visits into local schools went ahead during October 2022 with 4 authors visiting 7 different local primary and secondary schools and the Budleigh Salterton Library. These visits were enthusiastically received by the schools and many thanks are due to the team which organised and enabled them.
The BSLF Trustees together with the committee look forward to planning a Spring festival in March anda full September in 2023 aiming to continue working with local schools, the local library and making partnership arrangements with groups in the community.
FINANCIAL REVIEW
Total income, net of VAT, amounted to £137,674 (2021 £138,802), expenditure amounted to £148,774 ( £124,345 (2021 ) This resulted in a leaving an deficit of Income over Expenses of £11,100 (excess of income, 2021 £14,457) taken from Reserves.
RESERVES
The death of the late Queen together with additional expenses accumulated as a result of the train strikes in September 2022 meant that the BSLF Trustees were fortunate that the accumulation of reasonable previous years’ Reserves allowed them to fund the five-day festival, consistent with the objects of the charity. The BSLF Trustees will continue to act prudently to maintain sufficient reserves in order to secure the sustainability of the charity.
RISK POLICY
The Trustees have considered all risks to which the Charity might be exposed to in 2022 with specific focus on continuing train strikes and the need to protect the ongoing financial security of the charity.
ADMINISTRATIVE INFORMATION
The Trustees as at 31 December 2022 were
Chairman Sue Briggs Vice-Chairman Carol Ackroyd Treasurer Ruth Jones Trustee Jane Burton Trustee Education Jennie Milverton Trustee Jackie Collins Trustee David Cornes
11 July 23
BUDLEIGH SALTERTON LITERARY FESTIVAL
| STATEMENT OF FINANCIAL ACTIVITIES | STATEMENT OF FINANCIAL ACTIVITIES | ||
|---|---|---|---|
| INCLUDING INCOME AND EXPENDITURE ACCOUNT | |||
| forthe yearended 31 December2022 | 2022 | 2021 | |
| Incomefrom Donations | E | E | |
| Sponsors and Advertising Donations Friends |
14,410 24,851 5,695 |
14,400 14,430 5,812 |
|
| Income Tax Recovered | 2,000 | 2,000 | |
| Charitable Activities | |||
| Ticket Sales | 84,129 | 93,888 | |
| Total income | Book Sales and Other Sundry Income | 6,589 137,674 |
8,272 138,802 |
| Less Expenditure on Raising Funds |
Administration and Printing Advertising and Publicity |
7,105 29,892 |
5,914 20,427 |
| Commission on Ticket Sales | 4,865 | 5,655 | |
| Other Expenses | 7,201 | 6,982 | |
| Charitable Activities | |||
| Speakers Fees | 23,535 | 18,153 | |
| Speakers Expenses Hospitality Expenses, Authors |
1,025 10,739 |
7,831 | |
| Purchase Books | 3,944 | 9,157 | |
| Venue Expenses | 29,762 | 26,462 | |
| Children & Family Events (Outreach | 9,036 | 4,522 | |
| Education, 2021) | |||
| Total Expenditure | Consultancy Fees | 21,670 148,774 |
19,244 124,345 |
| Excess ofIncome overExpenditure | ~11,100 | 14,458 | |
| Tota Funds broughtforward | 28,705 | 14,247 | |
| Tota Funds carried forward | 17,605 | 28,705 | |
| BALANCE SHEET | |||
| as at 31 December 2022 | 2022 | 2021 | |
| SO | |||
| Current Assets | |||
| Debtors and Prepayments VAT Refund |
5,992 0 |
3,810 15,031 |
|
| Balance at Bank Total CurrentAssets |
74,906 80,898 |
68,765 87,606 |
|
| Less Current Liabilities | |||
| Creditors and Accruals Net Assets |
5,894 es5,00 |
1,500 __96,105" 106 |
|
| TotalFunds(unrestricted) | 75,004 | 86,105 |
Approved by the Trustees on 11 July 23 Signed by Ruth Jones on behalf of the Board of Trustees.
Rel \nro P
BUDLEIGH SALTERTON LITERARY FESTIVAL A Charitable Incorporated Organisation, registered charity no 1127885
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF BUDLEIGH SALTERTON LITERARY FESTIVAL
I report on the accounts of the charitable organisation for the year ended 31 December 2022 which are set out on page 2 and this page.
Respective responsibilities of trustees and independent examiner The trustees are responsible for the preparation of the accounts and for being satisfied that they give a true & fair view and that the financial statements are free from material misstatement. The Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
- It is my responsibility to - examine the accounts in accordance with the requirements of the Charities Act 2011 - follow the procedures laid down in the General Directions given by the Charity Commission, and - state whether matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the General Directions. An examination includes a review of the accounting records kept by the charitable company and a comparison of the accounts presented with those records. lt also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair view”, and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, I have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require me to report to you if, in my opinion:
-
the information given in the financial statements is inconsistent in any material respect with the Trustees’ Report; or
-
' the charity has not kept adequate accounting records: or - the financial statements are not in agreement with the accounting records and returns; or - T have not received all the information and explanations required.
Use of Independent examiners report
This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008.
Signed: Aah hse Keith Ward, Budleigh Salterton, pw 6 /é/2023
Keith Ward, Budleigh Salterton, Devon