THE OXFORD LITERARY FESTIVAL TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 30 JUNE 2023 The Trustees present their annual report and financial statements for the year ended 30 June 2023. The financial ststements have been prepared in accordan with the accounting policies set OLJt in note 1 to the financial statements and comply with Ihe Charity's governing documenl, the Companies Act 2006 and 'Accounb'ng and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" leffective 1 January 20191. Objectives and activities The objective of the charity is lo advance education by promoting and providing opportunities for the appreciation, understanding and enjoyment of literature and the arts, in particular through the promotion and running of a literary festival in Oxford. Public benefNt The Trustees have paid due regard to guidance issued by the Charity Commission in de¢iding what activities the Charity should undertake. A¢hlevoments and performance Significant activities and achievements against objectives 1. FESTIVAL DE-RIGGING Since the ltrslival ended. several months have been spent on all the posl-ltrstival administration. i. Paying bills. ii. Paying speakers, fees and seeking tesb'monials. iii. Working with our accountants on the details of Ihe festival financial turn-out iv. Thank you letters to all participants and partners and venueslpublishers and agents. 2. FESTIVAL OUTCOMES The festival made a small profil (see budget figuresl. i. Ticket holders at 27.000 lincluding 2020 refunds and compsl. Almost back to p-Cov1 numbers. iii. The festiv81 w8$ 8 great success- almost back lo pre-covid tim&s in terms of attendance. Some 400 speakers from 30 plus countri8s. Very enlhusiastic aUdienS- and excellent testimonialsland letters from guests. B8C World servi Radio were very pleased with their presence at Worcester College (who waived the hire fee for the Conference Centrel- 3. PROMOTION OF FESTIVAL EVENTS The festival was promoted through webstte, social media and printed pocket guide 120k printed the majority mailed out lo festival d8tsbasel and lo partner org8nis¥lions and sponsors. 4. FESTIVAL STAND-ALONE EVENTS To maintain public awareness and profile of the festival, the festival is now hosting 'stand-alone' events throughout the year.
THE OXFORD LITERARY FESTIVAL TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 Financial review In the year ended 30 June 2023, the Festival's income from donations, sponsorship and other receipts increased lo £550,294 12022.. £420,151) due to an increase in Ticket sales and Sponsor contributions to the Literary Festival. Costs in¢re8ssd lo £539,58412022.. £443,297) as a result of the cost of living crisis. Notwithstanding the net liabilities shown on the balance sheet, these financial ststements have been prepared on a going concern basis 88 the Trustees are confident that sufficient funds will be available to enable operations to continue at a SLJStainable level for a period ol at least 12 months from the approval of the accounts by the Trustees- especially given the strong level of existing sponsorship and new negotiations in hand. Reseftves policy The Trustees have considered the sustainability of the Charity and believe that a minimum reserve of £25,000 should be retained. The company is not yet in a position lo achieve this objective. Major risks The Trustees have identified the major risks which may affect the ¢h8rity and have taken reasonable steps lo mitigate those risks. Structure. govemance and management The Oxford Literary Festival is a company limited by guarantee and is governed by its Memorandum and Articles of Association. As at 26 March 2010 the company, The Oxford Literary Festival became a charity and is registered with the Charily Commission Iregistered number 11288201. The Trustees. who are also the directors for the PLJrpose of company law, and who setved during the year and up to the dale of signature of Ihe financial statements were.. Y Alibhai-Brown C AA118n K Farquhar-Thomson A J M Lowther-Pinkerton 8GEOkri P T R Simons G J W8rren J M Sevem (Resigned 7 Decernber 20221 (Appointed 14 September 20221 Recruitment and appointment of trustees The Board of Trustees aprx)int new members of the Board either to fill a casual vacancy or by way of addition to the Board. Particular emphasis is placed upon the appointment of trustees with knowledge and experien relevant lo the charity's aclivilies. Organisalional structure Day to day adrninislration of the charity is delegated lo Sally Dunsmore, as Chief Executive, under the supervision of the Board of Trustees. De¢ision-m8king powers are retsined by th& Trustees and exercised al their regular mtrelings. The Trustees. report was approved by the Board of Trustees. Chaimian.. Jarl Michael Severn Date..
THE OXFORD LITERARY FESTIVAL CRITCHLEYS INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE OXFORD LITERARY FESTIVAL I report to the Truslees on my examination of the finanaal statements of The Oxford Literary Festival {Ihe Charity) for the year ended 30 June 2023. Responslbllltles and basls of rèport As the Trustees of the Charity land also its directors for the purposes of company lawl you are responsible for the preparation of the financial slalemenls in accordance with the requirements of the Companies Act 2006 Ilhe 2006 Acll. Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity'5 financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Acll. In carrying out my examination I have followed all the 8ppli¢8ble DioI10n$ given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examiner'5 Statement Since the Charity's gross income exceeded £250,000 yOLJr examiner mLJSt be a member of a body listed in section 145 of the 2011 Act. I confimi that l am qualified to undertake the examination because l am a member of ICAEW, which is one of the listed bodies. I have completed my examinats"on. I confirm that no matters have come lo my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the Charity as quired by section 386 of the 2006 Act- or the financial statements do not accord with those records., or the financial statements do not comply with the a¢¢ounling requirements of s$¢tion 396 of the 2006 Act other than any requirèmènt that thé a¢¢ounts give a true and fair viéw which is not a matter considered as part of an independent examination., or the financial statements have not been prepared in accordance with the methods and principles of the Slalement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I draw your attention lo note 1.2 which details the rationale for preparing the financial ststemenls on a going concern basis. I have no ¢on¢erns and have Come across no other matters in ¢onn&¢lion with the examination to which attention should bg drawn in this report in order to enable a proper understsnding of the financial slalements lo be reached. Robert Klrtland FCA Critchleys Audit LLP Beaver House 23-38 Hythe Bridge Street Oxford OX12EP Dated.. 211512024