ChArlty reylstratlon numbef 1128820 (England and Wal081 Company reglstratlon number 4339438 THE OXFORD LITERARY FESTIVAL ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
THE OXFORD LITERARY FESTIVAL LEGAL AND ADMINISTRATIVE INFORMATION Trusteos Y Alibhai-Brown K Farquhar-Thom50n A J M Lowlhèr-Pinkerton Sir Ber* Okri P T R Sitnons J M Severn Dr Louisa Trg98r (Apwinled 24 Octobèr 20241 Charlty numbor 1128820 Company numbor 4339438 R•glstorod offlco clo Gr8Vit8 oxfo LLP Flyst Floor, Park Central 4041 Park End Strget Oxford OX1 1JD Independent examiner Gravita Audit Oxfor(l LLP First Floor, Park Central 4041 Park ErKI Str88t Oxford OX1 1JD Bankors HSBC 65 Commatkat Str08t Oxford OX1 3HY
THE OXFORD LITERARY FESTIVAL CONTENTS Pagè Trustegs, r8POrt Indop&ndent examinerfs report St81gmènt of financial activities 8alan(* sheet Stalemenl of cash flows Notes to the financial statements 8-16
THE OXFORD LITERARY FESTIVAL TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30 JUNE 2024 The Trustees pr889nt their annual wort and fÈnanclo1 staiem8nt$ for the year ended 30 June 2024. The financial statements have been prepared in accordallco with Ihe awounting poliues set out in notg 1 tr> the financial statements and coMFY with the Chaiity's goveming document. the Companies Acl 2006 and Acixjunting and Reporting by Charities.. Statemenl of Reoommended Practic6 applicab18 to charities preparing their accounts in accDrd8nce wilh the Finanual Reportsng Standard applicable in th8 UK Bnd Republic of Ireland IFRS 1021" 18ffeclivg 1 January 20191. Oblectlv•s and 8¢tfvltles Thè obiectlvo of the charity Is to advanc8 education by promoting and providing opportunities for the appreciation, nd6rstanding and enffioymènt ol literaturo and the arts. in particulaT through Ihe promotion and running ol a literary festival ill Oxford. PublK benefit The Trustees have paid due regard to guidance Issued by the Charity Commisgon in deciding what a¢tlthes the Charity should undertake. Achi0mnts •nd porforrn•ncè SignnScanl 8ctivilies and gchieveMlS agnsI otye¢bv8s 1. FESTIVAL DE-RIGGING Since the festival ended, s8V8rbl month8 havè been spent on 811 the post-fastNal adrninistration. l. P8ylng bills. li. Paylng speakèrs. fees and Sa8j lestimonlals. iii. Working wilh our acwunt8nts on tho datalls of the festival finanrial tum-out iv. Thank you lèttors to all participants and partners arLd venueslpublishers and agents. 2. FESTIVAL OUTCOMES l. In 2023 thè Fesllval issued its s¢atsm6nt on Freedom of Speech.Thè F8Stival has nover vAlh¢Jrawn an invitatH)n to a speaker, gwen in to threafs of vlolence. abuse, Of embargoes from any quartei. i. The F8Stival contsnues to develop its programme for schools in Iha City of Oxford. This invo$ sp&akers visiting the schools. and school groups att8nding events in th8 city ntr8 during the F8Stival. iii. In November of 2023, the Fesllval launched its rh6w 'Oxford Le¢tures'. to be delivered by Qmlnent figures in any eld 8dueated al th& university. Thè inaugural lecture was delivered by Ihe Ih&n Shadow Chancellor - The Hon. R&hel Reeves MP (New Collegel. 3. PROMOTION OF FESTIVAL EVENTS In addition to the very successful Media Partnership with The Tglegraph - The Festival was promoted through the wabsite, social medla, and the Festival printed Pocket Guide130.000 printed- the maprity tn8iled out to the Festival dalabasel and to partner organisatlons and sponsors. 4. FESTIVAL STAND-ALONE EVENTS FeslNal'Stand Alono, events irn Oxford continue lo bè staged throughout the year. Th8 FestlV81 is very fortunate lo have the support ol a large number of Volunteer stew3rds- who help lo slaff all the events during tho 9 days of the Festival each spring- as well as'sland-31one' events during the year.
THE OXFORD LITERARY FESTIVAL TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Flnanclal revlgw In the yoar ended 30 June 2024, the Festival's income from donations. sponsorship and other rec8ipts decieased to £505,242 12023.. £550.2941, wimarily due lo a decrease in Sponsor tontribulions to th8 Literydry Festival. Costs have cx)nthnued to remain largely consistent al £539.41812023'. £539,584). Notwithslanding the net Ilabililies shown on the balance sheet, Ihese finBncS8l statements hava been prepared on a going concem basis as the Trustees are ¢tsnfidant that sufficienl funds will be av8i18ble to enable operations lo nlinu8 al a sustainable level lor a period of at least 12 months frorn the approval of the accounts by the Trustees. ReswvespoliGy The Trustees hav6 ¢A)nsi(r8d the sustainability af th8 Charity and believe that a minimum reserve of £25,000 should b8 retained. The Charity 1$ not yet in a wsilion lo achleve this objective. although the Charity is working hard th muttiple donors and sponsors to strengthen the rèservè positton so th8 d&slred fvnds c8n be r8t8ined for future susiainabilty ol the festival. Maiorrlsks Thè Trusteos havè Sdenlified the rn8jor risks which may affect thè charily aThl h8ve taken reasonable Steps to mitigato thos8 risks. Plans for futur• p•rlods The Charity plans lo continue running the festiV81 in ord&r to rebuild from the challenging p8rio(I since Covld-19 and meet its core aims and obl8etlves.' 1. Prornot• Iltsrary approclatlon: Th& f8Stiv81 aimg to foster a lov8 of Iltuatur8 and writing by provldlng a plafform for avthors to connÈet th readers and diwuss their work. Thg f8slfjval a platfom to distinguished writers in every field of hurn8 8nd&avour. 2. Advanc¢ educatlon.. Festival provides opportunitie5 for authors, journalists for leaming and intellectual engagement, particularfy through dlwssions with leading 8Uthors and thirers. The feslival also stages workshops and creative writing courses. 3. Facilltat• dlalogue.. The f$stival serves as a space for dSalogue, debate. 8nd free expression, bringing together diverse voices and perspective5 on a wide range of topies. The lestNal is daeply comrnitted to free speh and cwilised, ewdence-based dialoguè on controversial subjg¢ts and issues. 4. Promote InlerTrattonal collaboration: The festival regularfy features Intemational txogrammes arbd speakers. lebratlng the literature and culture of many countries and societies. 5. Support writer¥ ond authors: The Festival provides valuable (yporlunities lor both e¥1Sh8d and new writers and aulhors to meet nèw audIens. gain exposurè. and debate their work. 6. Connect with thè Community: The f8StIV816ngages with Ioc81 schoots and communbties, offering opportunities lor students lo participate in events and engage with oulhors and Ihinkefs. FestlV81 speakers appear al schwls. and school groups attend Festival events in central Oxford. 7. Th8 Unlverslty of Oxford.. The Festival has always sought to r8fl8Ct the Universlly of Oxford'5 gr881 tr8dltlons of the pursuit of eXllenCe In scholarship, research, and discovery and to glve the gener81 publi¢ an insight into th8 work and achievernents of the UniveT5ity 8nd its colleges. The Festival is committed lo.. Extending and dev8k)ping its wogramme for schools in the City of Oxford - wSth the assislance of sponsors and donors. Expanding its partnershlps wlh Emb8ssi8s and global agencies to strK)wcase international li18ralure and culture at tha Fèstival. To strenglh8n thè Festival's long-term future. and to establish a major endowment.
THE OXFORD LrrERARY FESTIVAL TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Struciurn, governan and manaymont The Oxford Literary Festival is a comp8ny limited by guarantee and is governed by its Memorandum and Artic18s of Association. As at 26 March 2010 th8 company. Th& Oxfoid Literary Festival became A charity and is registered w*lh the Charity Commission IgIStered number 11288201. The Trusteès. who are also the directors for the purlxise ol company law. and who sfjrv8d during Ihe year and up lo the of Signatu of the finanaal slalements wer9.. Y Alibhai-Brown C AAllan K F8rquhar-Thomson AJ M Lowther-Pink8rton Sir Ben Ok PT R Simons J M Sevom Dr Louisa Treger IR68ign6d 21 September 20241 (Apwinted 24 October 20241 Recnwlment and 8ppoiiilmèntof tmst&es The Btsar¢J of Trustees appoint new mÉmbèrs ol the Board eer to fill a casual vacancy or by way of addition to the Board. Partlcular emphasis is pkgC8d tha appolnlmont of trustees Wth knowknyge and 6xp8rien¢8 relevant to thè charity's a¢tNilies. organisatnal$trc1Ur8 Day to day administration ol tho charity Is delegated to Salty Dunsrnor8, as Chief Exocutive, undar thè supervision of the Bo8rd of Trust8è8. Docision-making power6 are retain8d by th8 TnJ$t688 and ox8rcisad 8t Ihèir règul8r meetings. The Trustees. r port was approved by the Board of Trustees. J M Severn Chalrman= Jarl Mleha•l S•v•m Date.. Ir
THE OXFORD LITERARY FESTIVAL INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE OXFORD LITERARY FESTIVAL I r8POrt th& Trustees on rny examination of the financial statements of The Oxtor(l Literary FestNal (the Charity) lor the year ended 30 June 2024. R•sponslbllltles and ba$1$ of report As the Trustees of the Charlty land also ils directors lor the purp088s of eompany lawl, you are responsible for the preparalion of Ihe financial statements in accordance with Ihg Tequir8m8nts of the Companies Act 2006. Having satisfied myself that the financial statements of the Chailty are not roquirad to be audited under Part 16 of the Comp8nies Act 2006 and ale elwJible lor independent 8xamin8tion, I rerx)rt in respect of my examination of the Gharity's financial statemtrnts carried out under section 145 01 the Charflles Act 2011. In carying out my exarnination I have followed the Directions given by the Charity CThnmlssion under seclion 14515llbl ol the Charfties Ac12011. IndendOnt examln&r's statement Since the Charity's gros$ income exeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. 1 confirm that l am qualified to undertake the ex8rnination because I am a member of ICAEW. whlch is ono of the Ilsted bCleS. I have completed my exaNnBtlon. I conflmi that no matters have come to my attention in connection with the examination gtving me cause to believe that in any material respect.. accounllng records were not kept in r8SP8d of th8 Charity as roqulred by section 386 of the Companles Act 20(. the financial statements do not accord with those records. or the financial statements do nol comply with the accounting r8qulrem¢nts of section 396 of the Compani8s Act 20[ other than any requirerllgnl that the financial st8t0m6nts giv8 a true and fair view, whh is not a mattgr considered as part of an indep8nd8nt 8xaminatton', or the financial statements have not been prepared in accordance wilh the methods principles of Ihe Slatefflent of Recommended Practi for accounting and reporting by ¢haTities applic8ble to charities pparing Ihelr accounts in accordance wrth the Finanaal Reporting Standard applicable in the UK and R8pubtic ol Iroland IFRS 1021. I draw your attention to note 1.2 whith details Ihe rats'onale for preparing thg financial stat8m8nts on a going COn¢8rn basis. I hav9 no coneems and have come across no other mallers in connection with the 8xarninabon to which attention should be drawn in Ihis report in order to enable a proper understanding of the financi81 ststemenl$ to be reached. Elinor Upjohn ACA Gravlta Audit Oxford LLP First Floor, Part( Central 4041 Park End Stre8t Oxford OX1 1JD Dale.. l L. J.v.Nt..&¢J&S
THE OXFORD LITERARY FESTIVAL STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2024 Unr8strlcted funds 2024 UnreBtrlGted funds 2023 Income from: Donations and legacies Charitable 8etivits'e$ Investments 128,215 376,845 182 73.218 476,947 129 Totsl In¢( 505,242 550,294 Expendlture on= Ch8rit8bl& activities 539.418 539,584 Total exp8ndlturo 539,418 539,584 Net InmIll0xp0ndltur?l •rtd movoment In fvnd$ 134,1761 10.710 Recon¢lllatlon of funds-. Fund balances at 1 July 2023 1339,4431 1350.1531 Fund balances at 30 Jun• 2024 1373,6191 1339,4431 The 5tat8menl of financlal aclivltles indudes all gains and losses recognise(l in thè y&Br. Al income and expenditure derwe frorn conts'nuing a¢tivi118S.
THE OXFORD LITERARY FESTIVAL BALANCE SHEET AS AT 30 JUNE 2024 2024 2023 Notes Flxed assths Tangibl8 assets 11 439 585 Current ?ssels D8btors Cash at b8nk ond in h8rKI 12 15,825 77 20,982 9,225 15,902 30.207 Credltors: amounts falllng due wlthln ong yèar 14 1383.8411 1333,0671 Nel CUEnt liabilitiès 1367,939 1302,8601 Totsl ass•ts less Currènt Ilablllll•s 1367.5001 1302.2751 Credllors: amounts falllng duè aft•r moro than one yèar 15 16,1191 137,168) N•t IlabllStles 1373,6191 1339.4431 Incomè funds Unrestricted lunds 1373,6191 1339,443 1373,6191 1339.4431 The company is entitled to the exemption from Ihg audit requirernent contained in section 477 01 the Companies Act 20C*. for the year ended 30 June 2024. The directors acknowledge their responsibilities for complying with the requirements of the Cornponies Act 26 with resp8Ct to accounting record5 and the preparation of financial slatèmenis. The membets have not rèquired the company to obtain an audit of its financial statements for the year in quèstion in a¢cordance wilh section 476. These financial stalernenls have been prepared in accordance with the pTovisiorts applicabl• lo companies 5uW8Ct to the small companies regime. The financial ststemeDts were approved by thè Trustees Oll .....-..... Jmse Chalmian: Jarl Michaol S•vem Company R•glstralion No. 4339438
THE OXFORD LITERARY FESTIVAL STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2024 2024 2023 Notès Cash tlows from operatlng aetlvltlès Cash generated from operations 21 19,523 31,195 Inve$tSng actlvltles Inv8slrnent income received 182 129 $h 98n•rat•d from Inv•stlng actfvitlés 182 129 Flnan¢ln9 8Ctlvltlo8 Repayment of borrowing5 126,0491 111.5361 Net cash used In Ilnanclng aetlvltles 126,0491 111.5361 Not IdecrnasoVlncreas• In cash and cash equlvalents 16,344} 19.788 Cash 8fid ca8h 8qufv81enls at begirjning of year 117.5681 137.3561 Cash and cash equlvalw)ts al •nd of year 123,9121 117,5681 Relating to: Cash al bank and In hand Bank overdralts included in creditors payable wrthin one year 77 9.225 123,9891 {26,7931
THE OXFORD LITERARY FESTIVAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Acwuntlng poll¢l•s ChaTIty Informatlon The Oxford Literary Fesllval is a charitable c(xnpany limited by guarantee in(x)rporated in England and Wales. Th8 regtstered oifice is clo Gfavlta Oxford LLP. Flrst Floor, Park Central, 4041 Park End Str891, Oxford, OXI 1JD. 1.1 Accountlng Convention The financial ststements have been rwafed in acwrdance with Ih8 Charit5 govèrning document, the Companies Act 2006. FRS 102 "The Financial Reporiing Sland8rd 8pplicable in the UK and Republic of Ireland. I'FRS 102'18nd the Charities SORP "Accountlng and Reporting by Charttles.. Statement of Recornm8nded Practl¢Q 8pplicabl8 to charities prgparing their accounts in awordance with the Financial Reporting Standard applicable in th8 UK and Republic ol Iland IFRS 1021" leff9clivè 1 January 20191- The Charity is a Publi¢ Benefit Entity as defined by FRS 102. Th8 Charity has taken advantago of the prowsions in the SORP for chariti85 not to prepare a Stst8m8nt of C8sh Flows. The financial 5tatem8nt9 are prepared in slerling, which is the functional currency of Ihe Charity. Mongtsry amounts In these flnanclal staiemgnts rounded tr) the nearest £. The financial statements have been wepared under the histor[1 cost conventlon. The principal aOnIng poIiGi8s adopted are set out bg10w. 1.2 Golng ¢oncem NothStandIng the net118blllties Sh¢Y on the balance Sheat, these financi81 statements have been prepafed on a going concern basis as the Trustees a cor>fid8llt that sufficient funds will b8 available to enable operations to continue at a sustainable level for a period of at least 12 monlhs from the approval of the accounts by the Trustegs. In addition to this. the p8ttern ol the d)arity's activit18$ is such that voluntary incom6 wlll bè availablo from major donors at stepped intervals throughout the next 12 months, abling the Trus188s and Chief Executive to m8nag6 cashflow effe¢llvely. The Trust&as are confident the 2025 finanS are Secure. Tho Trustees have the abillty to reduc8 opèrations signifan(lY if income w88 to fall. 1.3 Chadtablfr funds Unreslrioled funds are available for use at the discr81ion of ihe Irust8e5 in fvrther8nc8 of the general oblectives of the chaaty and which have not been designoled for other purposes. As all irorne in the yeai is unreslriclèd a funds note has not been wnsidered necessary. IA Income All incoming resources are induded in thg St8temenl of Financial Activities ISOFAI when the charity is teg811y entitled to thè income arter any performance oonditions have been met. the amount can be measured rgllably and it is probab18 that the income will be rec8ivèd. The following specific polici8s are applied to particular C8tegories of income.. Donatlons For donations to be retognlsed the charity w511 have b8en nofjfled of th8 amounts and the settlement date in writlng. If Ihere are condilions attached to the donatlon and this rèqulres a level of perfortnance before entitlement ran b6 obtained then income is delerrgd until those conditions arè fully mel or the fuifilment of thos8 conditions is wllhln the conlrol of th8 Charity and it is probable that they will be fulfilled. Grants Income from govemmenl ar other gran1s are re(x)gnised at lair value when the charity has entitlement after any perfgmance conditions have been met, it is probable Ihgt the income will be ceiVed nd Ihe amount can be measured reliably. 11 entitlemenl is not rnÈt then Ihesg 8mounls are deferred.
THE OXFORD LITERARY FESTIVAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Ac¢ountlng pollcl IContinu•d) Donat•d goods, facSlltles and servlcos Donated facilities and donated professional services ale recognised in in(x)rne at their fair value when their econorni¢ beneflt Is probable, il rAn be measured reliably and the charity has control over thg ilém. Falr value is delermined on the basis of the value of the benefit of lh8 gift to the charity. For example the amount the charity would be willing to pay in the open market for such facilities and services. Where recognisèd. 8 eorrespondlng afflount Is reo)gnised in expenditure. For the year enfled 30 June 2024, there a no amounts re¢ognlsed by the Irustaes In the financial statements as the Val of thè benefit to th8 tharlty cannot be leablY 8stlmaled. 1.5 Expenditure All expenditure 15 8eeouTited for on an accnjals basis and has been classified under headings that aggregale all costs relalad to the category. Expenditure is recognised where there is a legal or constructive oblwjation to make payrngnts to third parties, il Is probable that the settlement will be required and the amount of the obligation be measured reli8bly. It is categorised under the following headings". Costs of ralslng funds - This includes all exp9ndittJre Incurred by th9 charfrty to rais8 funds for its char6tablè PUTPOSèS and Indudes costs of all fundraising adiviU8s events and non-charitable trading. Charltabh exp•ndltur• - These arè (x)sts Incurred on th8 ¢haritable activilies. including SL¢PPOrt costs and (x)sts relating to the governance of thè charity apportioned to rharitable a¢tsvitie5. I costs are allocat9d b•n experltUre cat8gorl&s of the SOFA on a basis design8d to reflect the use of th8 r8sour(. Costs relating to a parti(wlar aclivlty are allocated directly. Support costs allocallon SL¢PPOrt costs are those th81 assist the work of the charity but do not dlreedy present ch8ritable activities and indude office costs, govemance costs, and administrative payroll costs. They are incurred directly in support of expendituri on the objects of thg charity and include project management C4T118d out 8t He8dquarters. Wher8 SUPPOrt costs cannot b8 dir8¢tly attributed to particular headings they have b8e allocatèd to cost of rai8irJg funds and expenditure on chAritable activities on a basis consistent with u* of thè resourc8s. Premise8 overheads have been allocated on an insert detail b8s1s and other overheads have bee allocated on an ins9rt detall basls. 1.6 T•nglble fixed assets Tangible fix8d a55ets are ini118lly rn8asur6d at cost and sub$8quèntly measured al cost or valuatlon. nat ol d8preciation and any Impalrmenl lossès. Depreciation is recognis8d so as to write off the cost or valuation of as8els18ss their residual values over their useful lives on the lollowitjg bases.. Offlc6 equipmgnl 25% roduang balancè 1.7 Cash and cash •qulvalent¥ Cash and cash equivolenls include cash in h8nd. deposits held at cam with banks, other short-t8m liquld investments with original maturities of three months or less, and bank ov8rdi8fts. Bank overdrafts are shown within borrowings in currenl liabilities.
THE OXFORD LITERARY FESTIVAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 A¢countin9 pollcles Icontlnugdl 1.8 Flnanclal Instruments Th@ Charity has glact6d to apply the provisions ol Sedion 11 'Basic Financial Instruments, and Sectlon 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial Instruments. Financial inslrum&nts are recognised in tha Charity's balafKe sh96t when the Chartty b8comes paty to the contractual provtyjons of the instrum8nt. Flnanaal asget5 and Ilabilities are offset. wlih the nel amounts presenled In thè flnancial staternenls, when th@re is a legally ènforceable right lo sèt off tho recognised amounts and th8r8 is an intention to settle on a nel basls or to realise the asset and $8tMé the Ilability simultsngously. Bas1¢ financlal ass•ts Basic financial assets, which include debtors and cash and b8nk balances, 8Te initi8lly measured ot transaction price including transaction costs $ie subsequently carried at amoriised cost using the off8cli interest melhod unless Ihe arrangement constitutos a financing transaction, wh8r8 the transaction is measurd at the prgs8nt value of th& fulurg rec81Ptg discounted al a market rate of intér9sI. Financial assgis classified as receivablg Withsn one year are not amortlsed. flnancial liatslitlos Basic financial liabilities, including (xeditors and bank loans are initially iecognised at Irar)saction price unless the arrangemenl constilules 8 financing transa¢tion, where the debt instrument is measured at the present value ol the future payments discountod at a rnarket rat8 of interesL Financi81 liabilities dassified a5 payable withir on8 year are not amortis8d. Trade credilors are oblrgatlons to pay for goods or services thal have bgen BCqLsire(l in the ordinary Course of OP8rats"ons from suppliers. Amounts payable 8T8 cla&8ified as OUent liabilities il payment is due within one year or less. If not, they Ère presented 83 non-currenl liabilits. Trode creditors are r8cognised Inltiqlly at transaction price and 9ubsequenlly measur¥d al amortised cosl using the effective interest method. Crltleal accounllng g$tlmatss and ludgem•nts In the application of the Charity's accountin9 policies. the Trustees are required to make judggmènts, esttmates and assumpon$ Bbout the carrying amount ol assets and li8bililies that are r readily apparent from Other sources. The èstimates and 8ssociated assumptions are based on historical experi8ncg gnd olh factL¥s that are (x}sIdered to be relewdnl. Actual results may differ Irom these estimates. Th& eslimaies and uThJedying assumptDns arè rèvièwed on an ongoing basis. RevIsrS lo aOUntIng esllmales are rg(x)gnised in the period in whlch the estimale is revis8d where the revision affects only thèt period. or in the period of the revision and future perlods where the revlslon affects both current 8nd future pgriods. There are no slgnlficant accounting 88Umales orludgements in those flnancial statements. 10-
THE OXFORD LITERARY FESTIVAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Donat•on6 and 9a¢18S Unr•strlct•d Unrestrlcted funds funds 2024 2023 Donations 8nd grfts 128,215 73,218 Charitable actlvltie8 2024 2023 CommiSsnS rec8ivable ricket sal*s Sponsorships 10.000 212.315 154.530 10.000 201,271 265,676 376,845 476,947 Income from Invtstmènt8 Unr•strtetèd Unrestrlcled lund$ funds 2024 2023 Bank inter8sI re¢tsivable 182 129 flAmp PSID P51D Dato at 11
THE OXFORD LITERARY FESTIVAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Expendlture on eharltable act5¥ltle$ Running Gov•rnanco Events Costs 2024 2024 Total Runnlng Governance Events Costs 2023 2023 Totsl 2024 2023 Dir•ct costs Staff costs Deptsclalion and irnpaiftner Administrative assistance Speakers, fees and travel Venue costs 4n(t equipment hire Event running costs Postage and slatk)n&ry Advertising Telephone and fax Printing Travel and subsisten¢o Bank charges Book-keeping Offic8 running costs Sundry expenses Insurance 103,369 103.369 103,677 103.677 146 16,094 79.272 146 16.094 79.272 195 16.085 77.928 195 16.085 77,928 70,413 142.578 3,899 64,273 164 9,982 33,520 70.413 142,578 3,899 64,273 164 9.982 33.520 465 2,487 1.926 3.558 7,272 89,966 152,061 2,220 51,130 110 6,319 28,362 89,966 152,061 2,220 51,130 110 6,319 28,362 134 2,331 1.746 1,413 5.907 465 2,487 134 2,331 1,926 3.558 7.272 1,746 1,413 5,907 536,466 2,952 539,418 537.119 2.465 539,584 Analysls by fund Unrgstricted funds 536,466 2,952 539.418 537,119 2,465 539,584 Net movement In funds 2024 2023 The net movement in furyls is staled After chargingllcredlling).. Fees payable for th8 ifKlep8ndent examinatiC ol the charitvs financial statemenls DepTecialion of ovme¢J t8nglble flxed assets 146 195 Tru¥tegs Nolle of the Trustees lor any persons connected Wbth thernl re¢wveil any remuneration or beneffils from the Charity during the year. 12
THE OXFORD LITERARY FESTIVAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Employees The averag8 rnonthly number of employees during the year was.. 2024 Number 2023 Number Employment Costs 2024 2023 Wage5 and salaries Social security costs Other pension costs 91,992 10.184 1,193 91,992 10.492 1,193 103,369 103,677 The total amount of eTnployee benefit5 (including employer pension contributlonsl received by key anagement personnel lor their services lo the charity wa5 £103,36912023." £103,6771. There were no employees whose annual remuneration was more than £60,000. 10 Taxatlon The charlly is exempt from iaxation on its actiwties because all its income is 8pplied for charitable purposes. 11 Tanglble fixed as3et5 oin¢• •qulpmont Cost At 1 July 2023 4,966 At 30 June 2024 4,966 Depreciation and Impairment At 1 July 2023 Depreciation charged in the year 4,381 146 At 30 June 2024 4,527 Carrylng amount At 30 June 2024 439 At 30 June 2023 585 13
THE OXFORD LITERARY FESTIVAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 12 0•btors 2024 2023 Amounts falling due within on• y•ar'. Trade debtors Prep8ym•nts and a¢¢ru8d income 2,500 13,325 7,528 13,454 15,825 20,982 13 Loans and ovenlr*fts 2024 2023 Ballk overdrafts Other108ns 23,989 61.76T 26.793 87,816 85.756 114,609 Payable wilhin one year Payable aft8f one year 79,637 6,119 77,441 37.168 14 Crtrdltors: amounts falllng due wlthln on• y•ar 2024 2023 Notes Bank 0rdraft8 8oirowings Othei tsxation and social socurfty Deferred Iorne Trade creditors Other credltors Accruals and defefred ifKomg 13 23.989 55,648 36,764 120,399 126,525 1,778 18,738 26,793 $0.648 39,834 122.449 87.120 702 5.521 17 383.841 333.067 15 Cr•dltors: amounts falling duo •ft•r more than one yoar 21)24 2023 BOrrongS 6.119 37,168 16 Momr8. Llabll6ty Every Trustee undertakes to contrfbute to the assets of tha charity in the gv8nt of il being wound up Wh1 hè or she is 8 mèmber or within onè year after he or she cèa$8s to be a membèr. an amount not excgoding £1. Th8 total amount of such guarantees at 30 Jun8 2024 was £712023.. £71. 14-
THE OXFORD LITERARY FESTIVAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 17 Dgforred Incom• 2024 2023 Other deforred nCOme 120.399 122,449 Deferred incorne18 induded in the finènrAal statements as follows.. 2024 2023 DeferTed incom8 is included wlthln-. Curr8nl liabilit 120,399 122.449 Movements in the yeai.. Oeferred incomè al 1 July 2023 Rg18a5ed frorn wevlous p8rM)ds 122,449 12,0501 130,159 17.7101 Del6rr8d income at 30 Jun& 2024 1211.399 122.449 Deferred irtcome relatss to ts'ckgt sales held In respect of the 2020 gvenl cancelled 88 8 resu of COVID. Funds are relgased when usgd 8nd no longer du8. 18 R•tlrement benefit s¢hgme$ 2Q24 2023 Dgfined contrlbutlon Bchomo$ Charge to prOt or loss in respect of deffned contributron schemes 1,193 1.193 Thè Charity operates a delined contributi(x) pension schem8 for all qualifying employees. Thg asseb ol the scheme are held separattrly from those ol the Ch8rity in an indepenilenlly administered fund. 19 Unrnstricted fvnd8 The unrestricted lunds of the charity Cofftprise the unexp6nd8d balances of donath'ons and grants which ale not subjfjct to speclfie ¢onditions by donors and grantofs as to how they may be used. These include desSgnated funds which have been set asid8 Out of unre$lricted lunds by the trustees for specffic purposes. At 1 July 2023 Incoming Resour¢eB re$ourcg¥ Xnded At 30 Jun8 2024 General funds 1339.4431 505,242 1539,4181 1373,6191 Prevlous y•ar. At 1 Juty 2022 Incoming rg$ource8 Rè50ur¢es expended At 30Jun* 2023 General lunds 1350,1531 550,294 1539,5841 1339,4431 15-
THE OXFORD LITERARY FESTIVAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 20 Related party tran5aGtion$ During the year on8 Ifusiee12023.' no Irusia•sI donated £5,00012023.. Nil) to the charity for general purp)ses. On8 trusteè12023.' no trustees) had travel expense5 of £4812023.. Nil) reimbursed Al year end. 8 £20,000 loan advanced in the year by one Iruslee retnained oulstsnding. No inleresl Is charged and the are no olh8r condltions atlath8d to Ihe loan. 21 Cash generated from operatlon5 2024 2023 IDefi¢itysurplus for the yaar 134.1761 10.710 Adlu$tment$ for.. Inve8lm8nl incotne ie¢ognised in slaletnenl of financial activitie5 Dgprecialion and impairfflenl ol langibkg fixed assels 11821 146 I1) 195 Movements In worklng capltal: Decrease in d8btors Increaselldecreasel In creditors Ioecreasel in 4gf8rred income 5,157 50,628 12,0501 69,877 141,7481 17,7101 cash generated from op8ratlons 19.523 31.19S 22 Analysls of chang&s In not Idebtllfund$ At 1 July 2fy23 Cash Ilow$ At 30 Junè 2024 Cash al bank and in hand Bank overdrafts 9,225 126,7931 19,1481 2.804 77 123,9891 117,5681 16.3441 123.9121 Loan5 falling due within on8 year Loan5 falling due after more than one year 150,6481 137.1681 15,IX)01 31,049 15S,6481 16,1191 1105.3841 19,705 185.6791 16