Raglst•r•d number: 6794709 Charlty number. 1127987 BIG CHURCH FESTIVAL LIMITED (A company Ilmlted by guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 BIG CHURCH FESTIVAL LIMfTED (A company Ilmltsd by gu•rantsel CONTENTS Paga erencg and admlnlstrativ• detsilg of the Company. its Truste￿ and ad¥igers Trustees. roport Ind•p•ndent auditors. report on the Ilnan¢lal $thtements 8-11 Consolldatad ststement of IlnanGlal arti¥i11o5 12 Consolidated balanco sheet 13-14 Company balan￿ $h••t 15-16 Con80lidatsd statement of calh flow8 17 Notes to the Itnanclal statements 18-34 BIG CIIURCH FESTNAL LIMITED IA cornpany Ilmltgd by guarant99) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2024 Trustees Laigh Brfan Hills Gary Paul Spicgr (resigned 31 AUg￿t 20231 Faye De Pèlet (appointed 17 Nov8mbÈr 20221 ArKlrea$ Strainic (appointed 7 March 20241 Company rÈglstsr•d numb•r 6794709 Charity rogistsrgd numbor 1127987 Ro9ister8d gfflce 62 The Street Rustington West Sussex BN16 3NR P8g8 1 BIG CHURCH FESTIVAL LIMITED IA Company limlt•d by guarantèè) TRUSTEES. REPORT FOR THE YEAR ENDED 30 JUNE 2024 The Trustees present their annu4 rèport together with thè audited financial statemants of the Big Church Festival Llé for the 1 July 2023 10 30 June 2024. The Annual report serves the purposes of both a Trust8èS' report and a directors, report under company law. The Tnjslees conllrm Ihal the Annual report and financial statemen15 Of the Gharitable company comply with Ihe current 51alulory requiremen15, the requlremenls of the charitable companvs goveming document and the provisions of the Slalement of R￿0MMended Practice ISORPI applicable lo charities preparing Ihelr aecxwnts in accordanctt with the Financial Reporting Standard appllcable In the UK and Rewblic of Ire18nd IFRS1021 (effective 1 January 2019}. Slnce the group and thg Company qualify a$ small under sèctlon 383 of the Companies Act 2006, the Group strategic wport required of medium and large companies under the Companie5 Act 2006 (Strategic Report and Directors, Report} Regulations 2013 has been omilt8d. Oblectlves and actlvltles Pollcles and obJoCtive$ In sèttlng objectives and plannlng for actlvltSes, the Trustees have given due considerafjon lo general guidonce publishgd by the Charlty Commission relating lo public bgnetil. induding th8 guidance 'Public benefit.. running a charity IP821'. The Trustees have considered the Charity Commi85ion guidan￿ Dn publlc benefit and consider that actNities of the charlty fTTeet its charitsble objectives and provlde a beneffil to the public. Page 2 BIG CHURCH FESTIVAL UMITED IA Company limlt8d by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 Objoctfv8$ and actlvltle$ l¢ontlnued) • Princlpal Actlvty Our charitls purposes as set out in the objects contained in the cDmpany'8 memorandum of association are the advar￿ment and celebration of the Christian faith through op8n air music and performance events. This year, we were thrill&d lo oncè again fulfill our core mission ol creating the largest Church unity and evang6listlc event In the UK. The Big Churth Festival continues lo grow in both size and impact. drawing over 25,000 people from all corners of the UK land beyondl to ￿rne together in worship. fellowship, and evangelism. Our VI￿On remains sleadfasl: lo creale a space for unity, worship. and evangelisffl that shines brighuy as a be?Gon of hope for the Church across the UK. The festival has become a symbol of the Church's wwer to unlte. In$￿'re, and Impact lives. As we gather each year. we a￿ reminded of the power of community, and how much we can aCcom￿lsh when we come together under cne roof-uniled in fafth, purpose. and love. Thè event production team, along with our Truslges, continu& to pgur Ih8ir energy and passion Into the vision of the Big Ghurch Festival. Our goal is lo ensure that the event $8rve5 as a "light on a hill" for tho Church-showcasing thè vibrancy, diversity, ar¢d strength of the Christian community in the UK. Year after year. we art commilled lo expanding our reach. developing the site at Wiston House, and welcoming more attendees from across the UK and beyond. Our dream is to conllnue growing the festival. creating more space for cc￿nection, worship. and evangelism. so tral we can positively impact even rnore lives. A Unlque Business Mod&l As we continue to leam and grow, we've ambraeed a unique business model that sets the 8lg Church Fèsllval apart from smaller events. Rather than simply being a scaled￿p conf8renc8 that relies primarily on tlckel sales, the Gr8enfield Festival Model incorporates a more diverse set of income streams. Thls Indudès not just tloket salès, but also concessK)n$, 8ponsorships. and donor and grant funding. all of which are crucial in ensuring th8 sustsinability and growth of the ev8nl. This model allows us to provide a high-quality experience for all attendees, whirg also ensurlng that we can ntinue our charitable actiwties and expand thè f8stival's reach. 8y balancing healthy income streams across multiple channels, we are able to reinvest in the evont. furthering Its Impact both spiritually and e¢onomlcally. Looking ah8ad, we remain rn0￿ comM￿led than ever to the vision of the Blg Church Festival. Wlth e8th passing year. our impact grtrws. and wo ar8 8XCited ttr see how G¢)J will continue to use thls gvent lo bring unity. spark evaro8llsm. and inspire positive change within the UK Church and b&yond. Pag9 3 BIG CHURCH FESTIVAL LIMITED IA company limited by guarantsel TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Achlevèments and performance • Charftable activities The Big Church Festival is not ju51 an èv8nl.' it's a dynamlc cel&bration of failh. community. and creativity that brings together thousands of people from across Ihg UK and beyond. Originally known as Big Church Day Oul, this festival showcases the unity and diversity of the Church in a way that is both inspiring and indusive, offering a space wh8re everyOn￿whether de&ply involved in church lif& or just exploring their faith4an come together, connect, experieno something Iruty special. Kèy Highllghts of the Blg Church F8slFval: f. Celebrating the Christian Falth At its heart. the Big Church Festival is all about advancing and celebrating thè Christian lailh through muslc. worship. and Ilve perfommnces. The festlval Is a powerful reminder that faith can both personal and communal, inviting people lo explore d8ep8r connectlons with God and with one enothgr. 2. A Wel¢omlng Space forAII Wh&lher you're part of a church or not, the Big Church F&sbval is for everyone. Its Incluslve, frlondly atmosphere creates a swe where believers and ¥egk8rs alike 8xp¢ri¢nce th¢ Church's diverse and vibranl GommunSly. Il's an envlronmenl where differences are celebrated, and the common thrgad of faith brings everyone together. 3. Partners In Pukpose This festival wouldn't be posslbl& wtthoul its amazing pathers-national and internation4 organizations, local churches. charities. and countless volunieers-who come together with one shar8d goal.. to serve the churth and the world. Their Colle￿Ve effort makes the Big ChurGh Festival a truly global gatherfng with deep local roots, ueating a rlch tapeslry of supwrt and cornmunlty. 4. A Showcase ofcrnativity and WorshiTP The Big Church Festival is 8 celebration of cfealivty in all its fomis. From worfd-dass worship leaders lo cutting-edge muslclans and artists, the event creates a platform for showcasing the incredible tslenl wlthln the Church. With every perforniance, every art piece. and every worship session, thè festival pushes the boundaries of excellence, demonslraling the Church's vibrant cr8alive spirit. 5. Shining 4 Llght on Soclal Justic• Beyond musie and celebralien, the festival also amplofiès v¢icas advocating for sochgl justice and misslon- driven caus89. By giving space lo Chrlslian tharities and organizallons, the festival enables attendees to eroago with key global and IocBI issu&s, providing OPPOrtunities for action and supFM)rt In ways Ihal are both Smpactful and meanlngful. 6. 8uilding th• Global Chur¢h Family Al the heart of the festival 1$ the desi￿ to creatè 8 sense of belonging. Irs 8 place where Chri51ians from all backgrounds and walks of life can see Ihe broader picture of God's family. For those who pour themselves ￿10 local church communities year-round, ihe Blg Church Festival offers a wg11-des8rv8d moment lo relax, recharge, and celebrat8 the loumey of faith together with others. Page 4 BIG CHURCH FESTIVAL LIMITED (A company Ilmfted by guarant•g1 TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 Achigv•mènts and performanc8 (contlnu•d) 7. Transformlng Llves and Communltlos Through limes of focused worship and prayer, the Big Church Festival aims to not only affect th8 indlviduals who attend, bul to ripple out, influenciNJ the spiritual atmosphere of entire reglons. All8ndees leave with renewed inspira￿on. taking the love. hope, and vision they've 8xperienL%d b8¢k lo their homes. churcho$. and communllie$. 8. Rga¢hlng a Wider AudionGo The Blg Church Festival doesn't just Stop at those who atten(￿t seeks lo tell the powerful story of the livlng. breathing Church lo the worfd. Through media partnerships and outreach, the festival helps share the transformative impact of the Church with a broader audience, making sure Ihal ils story is told far and wide. Flnanclal revlow GDing concèrn After maklng apprO￿ate enqulrfes, the Trustees have a reasona￿e exp8Ct8tion that the Company has adgqualo resources lo continue in operational existence for the foreseeable fijture. For thls reason. Ihey continue to adopt th8 going ￿Cern basis in preparing the flnancial slalem8nts. Further details regarding Ihe Joplion of the going concem basis can be foun(J In the accounung p)licles. . R•sorve$ pollcy Th8 trustees have examined the eharity's requirements for reserves in light of the main risks lo the organisalion arKI are pleased to roport that Blg Church Festival ren)ains in a sound and vlabl& posltlon to move forward and have managed the reserves to do so. • Prlnclpal funding We aro a not for profit èvenL and ar8 wth k8y SUPPOrters, have Invested heavily in the vlslon of the Big Church Festlval. That vision sees us reaching Dul to as many of God's people as we can. which is why we afe able to offer a subsidised lickel pricing model. Our ticket revenue5 cover around tsvo thirds of thg ovent ost, wllh C￿cessIOns. sp￿sOr$ & the 98n&rosity of numerous donors meetlng the fundlng shortfall. Structurpi governance and management Constitution Btg Church Festival Limite(I Is registered as a charitable Kimpany limited ty guarantee arKI was Set up by a MenK>randum of Assouatlon. The charlty Ss contrdled by its govemlng document. 8 Memorandum of Association, ujnslllutes a1Smlted company. Ilmlled by guarant8e. as defined by the Compani8$ Act 2006. • Mothods of appolntment or ele¢tlon of Trust•0S The management of the Group and the Company is thg responsSbillty of the Trustees who are elected and cg> opted under the lem)s of the A￿deS of Association. Pag8 5 BIG CHURCH FESTIVAL LIMITED IA company limited by yuaranteel TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 Structurej governance and management Icontinu•dl Oryani5atlonal Structure and declsion4naklng poli¢i•s The organisalion is a charitable company limited by guarantee. incorporated on 19 January 2009 and registered as a charity. The company was esta￿1$hed under a Memorandum of Association which 8818blished the objects and pow¢rs of the charitable company and is governed under its Articlgs of Association. In the event of the company being wound up mamb8rs are required lo conlribute an amount not exceeding £1. All of the d1￿CtorS give their time vc4untarily and received no l￿n@fits from the charfty. All payments mad8 10 relatsd parties of the dirèctors and k8y management are shown as a note lo the ac¢￿jnts. • Policies adopted for thg induction and training of Trustee5 All the trustee5 art already familiar with th8 practical work of the charity. Any new trustees will be inviled and encouraged tr) attend Iraining sessions to familiarise tremselves with the charity and the context wlthin whlch il OP8r8tes. Plan$ for fulure perlods As it wntinuès to grow, the Big Church Festival aims to remain a plaGg of excellenGe. inspiration. and unlty. By creating a platform for people to connect. worship, and serve, the festival is not only shaping the future ol UK Chrislianlly. but also influencing the global Churth. Il's a place where peop￿ d¢)n'l lust witness the Church's vibrancy-they ex￿rIenC6 it firslhand ond become part of the story. Moving fOn￿ard Ihg ov¢nt moves in 2CI25 to Ihe August 8ank Holiday Wègkend and extends lo 3 ¢Jays. givlng 9realer opportunity for irnpact. Whgther attending, volunteering, or supporting in another way. thè Big Churth F8Stlv81 invltes p8opl& to be part of a movemonl that's bigger thon any one pwson or congregatbn-ll's the living. broathlng Church Kiming together lo shin8 brightly for the worfd to see. Page 6 BIG CHURCH FESTIVAL LIMITED IA company Ilmitgd by guaranteel TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 statement of Trustges. r•$poThslbilitie5 The Tnjstees {who are also the directo[5 of the Company for the purposes of company lawl are responsible for preparing the Tnjstees, report and the ffinancial slalemenls in accordance with applicable law and United Kingdom Accounting Standards (United Kingdc)m Generally Accepted Accounting Practice). Company Saw requires Ihe Tpjstees to prepare financial Statements for each flnanclal . Under company law, the Tw51ees musl not approve the financlal stslemenls unless they aro satisfied that they give a true and fair vlew of the state of affalrs of the Group and the Company and of IheSr incotning resources and appllcation of resour￿$, Includlng their income and expenditure, for that period. In preparing Ihfjse flnancial stalemenls. the Truslees are requlred lo- select suitable accounting polides and then apply them consistendy- observe the methods and prfnciples of the ChBrilies SORP {FRS 1021., make judgments and accountirNJ eslimales that are reasonable and prudent., stste whether applieable UK Accounting Standards IFRS 102) have been followed, subleet to any material departures disclos8d and explained in the flnancial statements.. prepare the financial sta19ments on the going concgm basls unles5 it is inappropriate tts presume that the* Group will contlnue in business. The TnJ8tees are r8sponsible for keeplng adequate a￿unknng reGords that are ￿ffIcIent to shw and explain the Group and the Compan18 transactlons and disclose with reasonable accuracy al any lime the financial position of the Group and the Company and enable them lo ensure that the financial ststements comply with th8 Companies Act 2006. They are also responsible for safeguarding the assets of the Group and th& Company and henc8 for taking reasonable steps for the KKevent￿n and detection of fraud and other irregularfties. Disclosurg of informatlon to audltors Eath of the persons who are Trustee5 al th8 lime when thls Trustees. report18 approved has confimied that.. so far as that Trustee Is aware, there 1$ no relevant audf( information of which the charitable group'8 auditors are unaware, arml that Trustee has taken all the steps that ought lo have been taken as a Trustee in ord8r to be aware of any relevant audit infomialion and lo establlsh that the charitabl8 SToup's avdilors are aware of that infomiatlon. Audltors The auditors, Baldwln Scofield Ltd. have Indicated thelr ￿llingneSS lo continue in office. The de￿gnated Trustees TrMII propose 8 motion reappointing the auditors at a meeting of the Trustees. Approved by order of the members of the trK)ar(l of Tru5108s on 6 March 2025 and signgd on Ihelr behalf by.. Loi n Hllls Pag• 7 BIG CHURCH FESTIVAL LIMITED (A ¢ompany limlt•d by guarant&&l INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF BIG CHURCH FESTIVAL LIMITED Opinion We have audlled the finandal ststements of Big Church Festival Llmiled lthe'par8nl charitable company'l and its subsidlaries Ilhe 'group'l for the year ended 30 June 2024 which comprise the Consolidated slalement of financial activitses, Ihe Consolidated balance sheet. the Company balance shèal, the Consolidated statement of cash flows and the related notes. inc5uding a summary of signllicant accounting policies. The financial reporting framework that has been applied in their preparaknon is applicable law and United Kingdo)m A￿untIng standards, Induding FlnancSal Reporting Standard 102 Tr Flnancial Reporting Stsndard applicable In the UK and Republic of Ireland, Iunited Kingdom Generally AeLeptBd Acc(MJnting Praclicel. In our opinion th8 financial stat8ments'. oive 8 true and fair view of the stale of the Group's and of the parent charitable CoMpan￿S affairs a5 at 30 June 2024 and of the Group's incoming resource5 and applrcation of resources, including its income and expgnditurs for tha year Ihon endgd.. have been prop8rly pr8p8rorl in accordance wilh United Kingdom Generally A￿￿p19￿ AccounlirwJ PracJce'. and have been prepar8d In 8ccordaneÈ wlth the requir8menls of the Charitias Act 2011. Bas1$ for oplnlon We CAinducted our audit in accordon￿ vjilh Intemational Standards on Auditing (UK) IISAS {UKII aThY applicable law. Our responslbiliiies undar those standards are further describgd in the Auditors, responsibilities for the audit of th8 financial statements section of our r8port We aro independent of the Group in accordance wlth the 8thical requiremerts that ar9 ￿levant to our audit ol the financial statements in thè United Kingdom, induding the Financial Repotting count￿,$ Ethlcal Standard. and we have fulfilled Dur other athical rasponsibilities in a¢cordanc8 With these requirements. We b&lieve that the audit evldence we have obtaingd is Sufficient and appropriat8 lo provid8 a basi5 for our Onlon. Con¢lusion$ relating to golng concern In audltSng the financial slalement8. wè have conclud8d thBt th8 Trustees. use of the going concèm basis of acrL)unllng in the Prepara￿On of the financlal 8tat8ments is appropriate. Basgd on the work we have perfomi8d, WE have tK)l id&ntifiad any malerlal uncertainties relating to events or conditions that. individually or coll8ctivgly. may cast signfficant doubl on the Group's Dr the parènt tharilaLle companl5 ability lo continue 88 a going concern for a period ol 8t18ast twelve months frDm when the tlnancial stalemenls are authori3èd for issue. Ouf responsibilities and the responsibilities of the Trustees with respect lo going concem are de8cribe(J in the relevant sections of this report. Page 8 BIG CHURCH FESTIVAL LIMITED IA company Ilmltad by guarantsel INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF BIG CHURCH FESTIVAL LIMITED {CONTINUEDI Other Infomiatlon The other infomialion compris85 the information includeLI in the Annual report olh8T than the financial stslements and our Auditors, rekK•rt ther80n. The Trus198s are ￿sponSibl0 for the other informaUon containe within the Annual report. Our opinlcjn on the financial slatemenls does not cover the other informatlon and. except lo the extent otherwise expliciuy slated in our report, we do not express any fomi of assurance Condusion thergon. Our responslbiltiy 15 to read the other infomiation and, in doing so, consider wheth8r the other informallon Is malerlally inconslstent with the financial statemgnts or our knowledg8 obt8lned in the course of tha audil. or othèrwise appears to b8 materially misstated. If wè Id&ntSfy sut* materi81 in￿nSIstenc1￿s or apparent material rnisslatements, we are required to delemiine whfrth8r this gNes rise lo a material misstatement In the finanoal statements themselves. If. ￿Sed on the work we have perfomed, conclude that there is a material mis8tatement of this other Information, we are required to report that fact. We have nothSThJ to report In this regard. Matt•rs on whl¢h we art requlred to report by exception We have nothing to report Sn w$[￿t of th& following matters wh8re tho Chadlles IAccxJunts and Repots) Regulatlons 2008 requires us io report lo you if, in c4Jr opinlon.. the infomiation glven in the Trustees. rewrt Is Inconslstent In any material respect with the financial 8tatements.' or the parent charitable eompany has not kept 8ufficient &counting r8cord$' or lh8 parent charitable company finandal statements are not in agregment with the accounting re￿rdS and retums: or we have not received all the Informa￿On and explanatlons W8 fequir8 for our audll. Rèsponslbllltles of trustees As èxplained more fully In the Trustees, responSi￿lItieS statement, the Trustees (who are also the directors of th8 charitable company for the pwposes of company18w) are responsible for th8 prepaTrlon of the finanGlal statements and for being satlsfied that they giv8 a true and fair viaw, and for suth internal control as the Trustees detemilne Is nec855ary to en8ble the preparallon of financial statements that are free fr￿ materi81 misstatemant. whalhgr due to fraud or errvr. In Preparing the financial statements, Ihg TTUStee5 are responsible for assessing the Group'5 and the parent charilabl8 CoMpan￿S ability to conllnue as a going concern, dlsdosing. &8 applicabl8. matters r8laled to gtslng concem and uslng th8 giNng ¢xJncem basis of accounting unless the Trustees esther Intend to liquidate the Group or the parent charltable wmpany or to cease operations, or have no realistic 8ltemaffive but to do so. Page 9 BIG CHURCH FESTIVAL LIMITED (A company limited by guarantee) INDEPENDENT AUDITORS. REPORTTO THE MEMBERS OF BIG CHURCH FESTIVAL UfvIITED ICONTINUED Auditors, responslbS1ities for the audlt of the financlal statèmènts We have been app(Mnled as audilor under $6¢tion 151 of the Charities Act 2011 and report ifi a¢Gordance with th8 Act and relevant rggulalions made or having elfect thereundgr. Our objectives are lo obtain r82sonable assurance about whether the financial statements as 8 whole are free from material misstatement, whether due lo fraud or error, and lo Issue an Auditors. r8POrt that includes our opinitin. Reasonable assurance is a high lovol of assurance. but is not a guarantee that an audit conducted in accordance wlth ISAS {UK} will a￿yS detect a material misstatem8nl when il exists. Misststem&nts can aiisa from fraud or grror and are considered material if. individually or in the aggregate, they could reasonably be expocted to influence Ihe economic deusions of usèrs taken on the basls of these financial statements. Irregularfties. includlng fraud. are In8tsnces of r￿n•cOMpliance with laws and regulations. We design procedures in line with our responsibilities, ￿tlIned abgve, lo detect material misstatements in respect of Irregularities. irtluding fraud. The extent lo which our procadures are capable of dèt8ctiThJ irregularib8s, induding fraud is detailed below.. We obtslnèd an understanding of the legal and regulatory frarneworks Ih£l 3r8 applicable to the charitable company and detemined that the most signtficant a￿ those that relate to the ￿porting framework in conformity with the requlremenls of the Companies Act %)06 and Chartiies Act 2011 and the relevant direct and indirect tax cornpliance ￿gUlationS in the United KlngdDm. Wo understood how the charitable company is complying With Ihoge framéw(xks by making enquiries of management to understsnd how thè charitsbla company maintains and comrnunlcate5 its policies and procedures in these areas and corroborated this by revlewing supportlng documentation and millLbl8s of meetlngs of those charged wlth govefnance. We assessed the sus¢èpUbility of the charity's financial statements to m8t8rial mlsstBlement. induding how fraud might occur by considering the risk of management override to b8 8 fraud fisk. In addition, we consldered the risk of m8nagemenl override by samplSng from the entire ptspulation of journals, identifying 5peGifi transactions which not meet our expectations based on spe¢ffic crftèria and investigated trese to gain an understanding and then agree back lo source documentation. Based on this understandino we deslgned our audll procedures lo Identify nonGompliance ￿￿th such laY+E and regulations. Our proc8dures involved verifylng that material transactions wgre recorded in cotnpliance Mlh Financkil Reportlng Standards in conformity with the rgqulr9monts of the Cornpanigs Act 2006 and Chartlles Act2011. A further dewptM)n of our responsibilities for the audll of the financial statements is located on Ihg Flnandal R8FQrting Councli's website al: www.frc.or .uklaudilorsres This description forms part of our Jdllors. report. Page 10 BIG CHURCH FESTIVAL LIMITED IA company Ilmited by guaranteè) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF BIG CHURCH FESTIVAL LIMITED (CONTINUED) Uso of our report This report 15 rnade solely to the charitable companls Iruslees. as a bo(ty, in accordan￿ with Part 4 of the Charits"e5 (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might stale lo the charitable companys trustees those matters are required to state to them in an Auditors, report and for no oth8r purpcw. To the fullest extent pemiilled by low. we do not accept or assume responsibility to anyone other than the charitable cornpany and ils members. 85 a bcKJy, for our audtt work, for Ihls report. or for th8 oplnlons we have LM BaldwSn Scollfjld Ltd Chartered accountants Statutory auditors 3 Nthwhous8 Business Centre Old Crawley Road Horsham Wast Sussax RH12 4RU 6 Marth 2025 Baldwln S¢ofield Ltd are eligible to act as auditors in terms of sectwm 1212 of th& Companigs Act 2006. Page 11 BIG CHURCH FESTV(AL LIMITED (A Gompany limltgd by guarantoe) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 30 JUNE 2024 Rgstricted Unrestrlcted funds funds 2024 2D24 Total funds 2024 Tolal lunds 2023 Note Income from: Donations and legacies Charitable activities Other trading aclivrties Investments Other incom8 274.451 3,657,777 179,174 {28) 274,451 3,657.7T7 179.174 128) 981,370 3,113,866 45.092 87 26.833 Total ineomè 4.111.374 4,111,374 4.167,248 Expendlturg on: Raising funds Charitable activities 28.448 3,668,298 28.448 3.668,298 20.201 4,277,996 Totsl èxpendlture 3,696,746 3,696,746 4.298, 197 Not movoment in fund5 before other rncognised gainslllo¥$e$) 414,628 414.628 f130.949J Other r?￿gnIs9d gainsl{l¢ssosl: Other liossesygains {2,347 12,3471 3.313 Net movemBnt In funds 412.281 412,281 (127.636) Roconcilialion of funds: Total funds brouyht forwar(I Net movement in funds 2,900 {404.9571 412,281 1402.05 412.281 (274,421) (127,636J To&il funds carrled foThv•rd 2,900 7,324 10,224 (402,057) The CM8011dated ststement of f5nanci￿ gctivitlg$ Include5 all gains and losses recognised in the year. The notss on paga5 18 10 34 form part of these financial statements. Page 12 BIG CHURCH FESTIVAL LIMITED IA company limited by guarantee) REGISTERED NLIM8ER: 6794709 CONSOLIDATED BALANCE SHEET AS AT 3D JUNE 2024 2024 2023 Notg Flx•d as$¢l$ Tangible assets 13 23,766 4.728 23,766 4,728 Current assgts Dobtors Cash at bank and in hand 15 410,353 85,803 363, 114 587,632 496,156 950.746 Creditors- amoL¢nts falling due within one year 16 (509,698 (1.357.&71) Nat cvrr•nt Ilabiliti•s {13.$421 (406, 785J Total net assets 10,224 (402,057) Charlty fund* Restricted funds Unrestricted fvnth 18 18 2,900 7.324 (404,957) Total funds 10,224 (402.05T) The Company w8S 8ntrUed to exempllon from audit under sedion 477 of th8 Companies Act 2006. Tha m8mber5 hav8 not r8qulred the entlty to obtain an audlt for the year In questlon In ac￿rdaftce I￿1h sectkjn 476 of th8 Companies Act 20C6. kn¥ever, an audll Is requlred In acGordance with section 151 of the Charities Act 2011. The Trustees acknovAedge their responslblllties for complying With the requirements of the Act with respect lo accounting records and preparallon of fin8nc4al statements. PgJe 13 BIG CHURCH FESTIVAL LIMITED (A cornpany limltsd by gu8rant•e) REGISTERED NUMBER: 6794709 CONSOUDATED BALANCE SHEET {CONTINUEDI AS AT 30 JUNE 2024 The financial slatemgnts havè been prepared in accordance wllh the provisions applicabl8 to enb'ties subject lo the small companies regime. The fSnancial statements wer on thair behal roved and aulhorlsed for Issuè by the Trustees on 06 March 2025 and sl9ned Brlan Hllls The notes on p8ge$ 18 to 34 form part of these financial stalemenls. Page 14 BIG CHURCH FESTIVAL LIMITED IA company Ilmltsd by guarantee) REGISTERED NUIABER.. 6794709 COMPANY BALANCE SHEET AS AT 30 JUNE 2024 2024 2023 Note Fixed assÈtg Tar¥Jible assets Investments 13 14 23,766 100 4,728 23,866 4.828 CurY•nt assets Debtors Cash at bank and in hand 15 412.629 75,720 423.429 334,86T 4B8,349 758,296 Creditors-. amounts falling due withln one 16 1507.9621 (1, 161,893) Net currnnt118bllltleJ {19,e13} (403,597) Total n•t assets 4.253 (398,769) Charfty funds Restricted funds Unreslricled funds 4,253 (401,669) Total funds 4,253 (398, 769J The Companws nat movem8nt In fund$ for the year was £426.895 (2023- £(150,167J). The Company was enliued lo exemption from audit under sectlon 477 of Ihe Companies Act 2W6. The members have not required the entity lo oblaln an audit for the year In quesllon In accordanc& with sectlon 476 of the Companies Act 2006. khxever. an audit18 required in accordan￿ with section 151 of the Charities Aet 2011. The Trustees aCknO￿edg0 their responsibilities for complying with the requirements of the Act wf(h reswcl to accountlng records and preparation of financial statemenls. Thè financial statements have been prepared in a(XOrdar￿8 wSlh the prowsions applicable lo entities subject to the small companies regime. Pag8 15 BIG CHURCH FESTIVAL LIMITED (A company limited by guarantee) REGISTERED NUMBER: 6794709 COMPANY BALANCE SHEEf ICONTINUED) AS AT 30 JUNE 2024 Th6 fin8ncAal statements were approved and authortsed for I&wJ6 by thè Trustees on 06 March 2025 and slgned on their behalf Brlan Hllls The Th)tes on pages 18 to 34 fonn part of these financiBI statements. Pag& 16 BIG CHURCH FESTIVAL LIMITED (A c¢mpany limlted by gu4r4nte•l CONSOUDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2024 2024 2023 Cash flDW8 from operatlng •ctlvltlos Net cash used In operating activities (474.374) 254.940 Cash flows from Investlng activities Purchase of tangibie fixed assets Foreign currgncy gains Interest income 125,080) 12,347) 128) 3,313 87 Net Cash (used in)Iprovided by inv•sting a¢tlvltles 127A55) 3.400 Cash Ilows from flnanclng activities Repayments of borrowing (go.000) Net cash prtMded byl(used in) finanelng •ctlviti•s 190,IXIOI Changg In cash and ¢a8h oqulvalonts In Iho yoar Cash and cash equlvalents al the beglnning of the year 1501.829) 587.632 168.340 419,292 Cash and ca•h •quivalgnts at tho end of the year 85.803 58T,632 The notes on pages 18 to 34 fom part of thes8 flnancial stat&ments Pog9 17 BIG CHURCH FESTIVAL LIMITED (A Company limltod by guarant•èl NOTES TO THE FINANCIAL STATE141ENTS FOR THE YEAR ENDED 30 JUNE 2024 Gènéral InfOrMa￿On Big Churth Festival Limlted is registered as a charitable company limited by guarantee and vrds Sel up by a Mornorandum ofAsso¢Salion. Accounting policles 2.1 Basis of preparatlon of Ilnanclal statements The financial ststements have been prepared in acwdance with the ChaHlies SORP {FRS 102) - Accounting and ReportirwJ by Chariues.. Statement of Recommended Practice applicable lo charllies preparing their a￿Unts in accordance with the Financial Reporting Standard apFAicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191, Ihe Financial Reporting Standard applicablg in tho UK and Rgpublic of Ireland IFRS 1021 and the Companies Act 2006. Blg Church Festival Llmiled meets the definition of a publlc benefil gntity undgr FRS 102. Assets and liabilities are inltially recognised at htstorical (x)st or transaction value unless olhemse stat8d In the rel8vant accounting policy. The Consolidated statement of fin8ncial activities (SOFA} and Consolidated balance sheet consolidate the financial slalernents of the Company and ils Subsidiary undertaking. Thè results of the subsidiary are wnsolKlated on a line by line basis. Tho Company has taken advantage of th8 exefflplion 811owgd under section 408 of the Companies Act 2006 and has not presented its own Statgrngnt of finanaal activities in these financial slalemgnl& 2.2 Incorng Ail In￿￿8 Is racognised On￿ the Company has enllllement to the income. it 15 probabl8 that the incoJve wrll bg received and the amount of incomè receivable can be measured reliably. Grants are included In the Consolidated slalèment of financlal acllwtie8 ￿ a receivable basis. The balance of income r￿1Ved for specific purposes but not expended during the pgriod is shown in the relevant funds on the Balance shael. Wh&r8 incoma is roceivgd in advance of entitlement of rgceipt. Its recognltion 1$ dgferred and included In ueditcKs as dgferred in¢xme. Where entitlement o(xurs bgfor8 incom8 is r8ceived. the incomè Is 8ccrued. Income tax recoverable In relation lo investment income is recognised at the time the investment Ir￿Me 15 re￿1Vable. Other Income is recognised in the period in which It is receivable and lo the extent the goods have been provided or on completion of the service. 22 Expendlture Exp9ndilur8 is rgcogni¥ed once there 15 a legal or constructive obligation to transfer economic benefit to a third paty. il is probable that a transfer of economic benefits wlll be required In setuement and the amount of the obligation can bè mèasured reliably. Expenditure is classified by activity. The costs of each activity are made up of thè total of direct costs and shared ¢osts, inclu(Jing support costs involved in undertaking each activity. Direct cosis attributable to a single activity are allocated directly to that aclivily. Shaied costs which contribute to more than one activity and support costs which are not attribut8ble 10 8 single activity are apportioned beiween those acb'vities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent. and deprgcialion chargbs allocated on the portion of the asset's Usg. Page IB BIG CHURCH FESTIVAL LIMITED IA company limrtod by guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Accounting policies (coDtinued> 2.3 Expendlture Icontlnuedl Expenditure on chaiitable activities Is Incurred on directly undertaking the activities which further the Group's objectives. as well as any ass0¢ialgd SUPPDrt cost5. l expendliure Is Indusive of Irrecoverable VAT. 2.4 Interèst receivable Interest on funds held on deposit is included when receNable and fhe amount can be measured reliably by the Group,. this is nomially upon notsficalion of the interest paid Dr payabl? by the institullon with whom the funds a￿ deposrted. 2.5 Tanglble Ilxgd assets and depreciation Tangible fixed assets costing £NIL or more are capitalis8d and r8ccgnisad when fLTrtur& gconomic benefits are probable and th8 Cost or value of lh8 asset can bè measured rdiaNy. Tanglble fixed a8sels are initially recognised at (X)8t. After ieco9nllion, under the cost model. tanglble fixed assets ara measuretl at cost less accumulated depfeciauorb and any accumulated impairment losses. All costs Incurred lo bring a tangible fix8d ass8t into ils intend8d working ndilson should be Induded in the measurement of c08t. DepreLiation is charged so as to allocate the cost of tangiblg fmgd assots18ss th8lr rasidual valuo over their estirnated useful Iivos. using th8 51raight-lino m81hod. Depfeciation is provided on the fC4lD￿n9 ba51s'. Computer equipmgnt 33% on cost 2.6 Investm•nts Fixgd asset Investments are a fomi of financial Instrument and are Inltlally re￿gnIs￿d at their transaction cost and subsequen￿Y measured at falr valuè at the Balance sheet dale, unless the value cannot be measured reliably in whth case it is measured al c05t less Impaliment. Inv8stment galns and losses, wheth8r roalised or unrealis8d, are combin￿1 and pr8senlgJ as ￿aIn$l(Lo$sesI on inveslm&nts' in the Consdidated statam8nt offfinanci818ctivities. Investments in 8ubsidiarfe8 are valued al c081 less provislon for Impalmenl. 2,7 Debtors Trade and other debtors are recognised at the settlement amount after any Irade discount offered. Prepayments are valued at the amount propakj net of any trad• dls(xiunls due. 2.8 Cash at bank and in hand Cash 81 bank and in haThJ inC￿deS cash and 5hort-lerm highly 1SquOd inve8tmnl8 a short maturity of thre8 months or less from the dale of acquisltlon or ¢¥)ening of the depDSIt or similar accounL Page 19 BIG CHURCH FESTIVAL LIIAITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Accountlng pollcies Icontlnuèdl 2,9 Llabllities and provislons Liabilitie5 are recognisod wh&n there is an obligalion at the Balance shegl date as a result of a past frvent, it is probable that a transfer of economic benefit will be requlred in settlement. and th8 amount of th8 settlemgnl can be estimated raliably. Llabilities are re￿9￿lS￿d at th8 amount that the Company anlicipal&s it will p8y to setue the debt or the amount It has received as advanced paytnents for the goods or services il must provid8. Provisions are measured al the be51 estimate of the amounts required 10 5etlle the obligation. Where the effect of the time value of rnoney is material. the provision is based on the presenl value of those amounts, ￿ls￿Unted al the pre-tgx discount rate thal reflects the risks specific to the liability. The unwinding of the discount is recognlsed in the Consolidated slalement of financial activities as a financo ¢051. 2.10 Financlal Instruments Th8 Group only h&$ finanGlal assgts and financial liabllitlas of a kind Ihat qu8lify as bawc financlal instwmènts. Basic financial instruments are Initlally recognlsed at transacliDn value arKI subsequently maasured at their setllement value wlh the exception of bank loans %thich are subsequently measured al amortised Gosl using the effective interest method. 2.11 Pen5i0n8 The Group operates a d￿n￿d contrlbutlon pension scheme and the penslon charge repras8nts the amounts payablè by the Group to the fund in respect of the yeai. 2.12 Fund accounting General funds 8re unrestricted funds vthiGh are available for use 81 th& discretion of the Trustees in furthgrance of the general oblectlveg of the Group and which have not been de8lgnatsd for other ￿rpo￿. Reslrricted funds are funds which are to bè used in accordance with Spec￿1¢ rostrictions Impos8d by donors or whlch have been raised by the Group for particular putpose5. Th9 Costs of raising and adminlstering such fvnds are charg8d against the specific fund. The alm and use of each restrlcted fund15 591 out in tho notes to the finanoal statements. Investment income, gains and losses are allocated to the appropriat& fund. Pag8 20 BIG CHURCH FESTIVAL UMITED IA company Ilmltgd by 9uarnnto8 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Income from donatlon8 and legacles Unrnslrlctsd funds 2024 Total funds 2024 Donations 274,451 274,451 Unrestllclad fvnds 2023 Tot81 funds 2023 DOna￿OnS 981,370 981.370 Incom• from chaTitalA• activttl•s Unrnstrictsd fvnd5 2024 Total funds 2024 Srtcome from Gharftabl& activities 3.657,777 3.657.7Tr Total funds 2023 fvnds 2023 Income from charltable aclfvllles 3. 113.866 3.113.866 Pag8 21 BIG CHURCH FESTIVAL LIMITED IA company Ilmited by guarnntstrl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Ineomo from other trading activitiès Income from non charltable tradlng activitlèB Unrestrl¢tèd funds 2024 Total funds 2024 Online ticket sales 179,174 179,1T4 Unresti7d8d funds 2023 Total tunds 2023 Online tlckel sales Other income 42,975 2,117 42,975 ZIIT 45.092 45.092 Page 22 BIG CHURCH FESTIVAL LIMITED (A company Ilmlted by guarnnto01 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Inv8Stmént Income Unrestrlctgd funds 2024 Total funds 2024 Investrnent Inccffi8- I(￿al cash 128) (281 Unrestrlded funds 2023 Total funds 2023 Inv8stsnent Incoma- local cash 87 8T Oth•r Incoming rfj50ur Tt)tsl funds 2024 UnrestrfGted fvnds 2023 Total fvnds 2023 Othar income 26,833 26,833 P8ge 23 BIG CHURCH FESTIVAL LIMITED {A company limitpd by guarante•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Analysis of expgnditure on charltabla activiti Summary by fund type Unrestricted funds 2024 Total 2024 Diract costs of charitsbl8 activities 3,668,298 3,668398 Unfftstrtclod funds 2023 Tot81 2023 Dirgct costs of charitable Activrties 4.277.996 4.27T,996 Analysls of oxpondlture by activities Actlvlties undertaken directly 2024 Support costs 2024 Total funds 2024 Dlrect costs of charitabl8 activltles 3,016,205 652,093 3,668,298 Adivilles undertaken direGIIy 2023 Tol81 funds 2023 Costs 2023 Direct costs of charftable actlvldes 3,565,858 T12, 138 4.277.996 Pag& 24 BIG CHURCH FESTIVAL LIMITED IA company Ilmit•d by guarantsèl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 30 JUNE 2024 Anatysis of expenditurn by activltles (continu•d) Analysls of dlrect costs Charitsbl a¢tlvltles 2024 Total funds 2024 Staff costs Production costs Event costs 129.160 1.418.147 1.468.898 129.160 1,418.14T 1.468.898 3,016,205 3,016.205 Ch817table 8Ctivilies 2023 To¢al funds 2023 staff costs Pr(xluthon costs Event oosts 100.211 2.040,197 1,425,450 100.211 2.049,197 1,425,450 3.565,858 3,565.858 1D. Auditor8. remun•rallon 2024 2023 Fees payablg to Ih? Companrfs auditorlind8PWKl&nt examln8r for th8 audivexaminatlon of the Company's annual accounts 10100 9,750 Page 25 BIG CHURCH FESTIVAL LIMITED IA company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 11. Stsff ¢ost5 Group 2024 Gmup 2023 Company 2L)24 Company 2023 Wages and salaries Soci81 $8curity costs Contribution to dÈfined ¢onlribulion pensic schemes 119,049 7.183 94,294 3,622 119,049 7,183 94.294 3.622 2,929 2,295 2,929 2.295 129,161 100,211 129,161 100.211 The avfjrage number of persons employed by Ihg Cornpany during th8 year was a$ follows: Group 2024 No. Gmup 2023 ND. Company 2024 No. Company 2Q23 No. Admlnlstratlon No employee received remuneration amounting to more than £60,000 in either yaar. The trustges consider that thè key management pèrsonnèl ar8 the PronKJter and the Event Manager. Durfng the year tha kay management Invoiced the charity (net of VATI for sarvices rendered a5 follows.. Management f88s charged by AJkyard Ltd in which the promoter has an interest, £78,654 12023 £84.054). Marketing 1509,698) 23,786 2,900 Total 2.900 7,324 10,224 Page 32 BIG CHURCH FESTIVAL LIMITED (A company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 20. Analysis of net assets between lunds Icontinuedl Analysls of nat assots between funds - prlor porlod R8strictgd Unrestrictgd lunrls funds 2023 2023 Total funds 2023 Tangible fixed asséts Current assets Crgditor5 due within one year 4,728 4. 728 947.847 950, 747 (1.357.531) (1.357.531) Total 2,900 {404.956J (402,056) 21. Reconclllatlon of net movement In fund8 to net cash flow from oporatlng activftlos Group 2024 Group 2023 Nat in¢omelexpenditur8 for thg pwiod las ￿r Slatoment of Finaneial AdivitlO5 414.628 (130.949) Adju$tm•rrts ft>r: Depreciation charges Interest income D8cre8s811in￿asel in debtors IrKreaselldecrèa8e) In (¥editrKs 6,042 7,374 (87) 50,533 328,069 147.2401 IB47.832} Net cash provlded byl(used In) operatlng actlvltle8 1474.374) 254,940 22. Analysls of cash and cash equivalents Group 2024 Group 2Q23 Nolice d8pO￿ts {le5S than 3 months) 85.803 58T,632 Total cash and ush equlvalonts 85,803 587.632 Page 33 BIG CHURCH FESTIVAL LIMITED (A company Ilmlt•d by guarJnteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 23. Analysis of chonges In net d•bt At 1 July 2023 Cash flows At 30 Jung 2024 Cash al bank and in hand Bank overdrafts repayable on d8mand Debt due aft8r 1 year 587,632 (501,829) (3201 85,803 1320> 587.632 1502,1491 85.483 Pen81on commltments The group operates a dofinod contribution p8nslon scheme. The assets of tha schema are held 9epar8taly from those of the group in an indèpèndèntly administer6d fund. Th8 penS￿n cost charge iepresents c¥)ntribulions pay8blè by the group lo the fund and amounted to £2,929 12023 £2,295). Contributions amounting to £606 {2023 - £nill were payable to the fund al the balar￿a sheet date and are included in creditors. Page 34