2022-12-31-accounts - Arundel Festival Ltd

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Company number 07140043

ARUNDEL FESTIVAL LTD

ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022

ARUNDEL FESTIVAL LTD

ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022

INDEX

	Page
Trustees Annual Report	1
Independent Examiner's Report	3
Statement of Financial Activities	4
Balance Sheet	5
Notes to the Accounts	6-7

ARUNDEL FESTIVAL LTD DIRECTORS' AND TRUSTEE'S ANNUAL REPORT

FOR THE YEAR ENDED 31 DECEMBER 2022

The Trustees, wo are also the Dirctors of the charity for the purposes of the Companies Act 2006, present their annual report with the financial statements of the charity for the year ended 31 December 2022. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) Accounting and Reporting by Charities issued in October 2019.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity registration number 1136508

Company registration number 07140043, registered in England and Wales. Registered office: 51 High Street, Arundel BN18 9AJ

TRUSTEES

The sole director and trustee in office during the year was: S Blaikie

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity is a company limited by guarantee and registered as a charity. The governing document of the charity is the Memorandum and Articles of Association.

RISK MANAGEMENT

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

OBJECTIVES AND ACTIVITIES

The charity's objective is to organise an annual cultural festival in Arundel that will promote, improve, develop, and maintain public education and appreciation in the arts and science including music, visual arts, drama, literature, film and other performances. This year was successfully funded and managed the 44th Arundel Festival of the Arts (AFOTA).

The Trustees have complied with the duty in Section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

ACHIEVEMENTS AND PERFORMANCE

Fundraising activities

The Arundel Festival of the Arts (AFOTA) is funded almost entirely through sponsorship, fundraising, and charitable donations. We are grateful to all those people and organisations who gave money and help-in-kind to Arundel Festival Ltd during 2022 to assist with the ongoing activities and events. During 2022 fundraising activities included:

Fundraiser at the Castle Cricket Club on 1st June 2022
Two fundraising evenings on the Castle Lower Lawns on 25th and 25th June 2022
Music Festival in Brooks Field on 19th to 21st August 2022

Funds were raised through ticket sales, bar takings, raffles, auctions, sponsorship, and donations.

Page 1

ARUNDEL FESTIVAL LTD DIRECTORS' AND TRUSTEE'S ANNUAL REPORT Continued

FOR THE YEAR ENDED 31 DECEMBER 2022

Events and festivities

In addition to the fundraising events and support provided to organisers of other events around Arundel, the Festival Committee successfully planned and managed the annual cultural festival - Arundel Festival of the Arts (AFOTA) which ran from 19th to 29th August 2022. AFOTA is heaven for lovers of the arts, with every style and genre of music, art, theatre, culture, food and drink to enjoy.

From dragon boats to duck racing, choirs to Count Basie, and Shakespeare at the Castle to street entertainment, Arundel buzzed with family-friendly fun for every age group.

Arundel Castle was, as always, the backdrop to the festival, with this year's most loved events being:

The Dragon Boat Race which involved many local businesses and groups competing against each other in friendly rivalry.
Tribute band ABBA MAGIC on the High Street, which brought with it dancing in the High Street and an uplifting party atmosphere for the local community and visitors alike.
The 3-day music festival featured local performers as well as audience favourites from slightly further afield.
The Duck Race on the Bank Holiday Monday, helped to raise much needed funds for our local RNLI service.
Burfest in Burpham providing an intimate music festival in the most beautiful of settings.
A magical Children's Concert in the Cathedral featuring the Sleepy Lagoon Orchestra giving children the opportunity to learn about the instruments.
A Festival Street market featuring stalls and pop ups from local suppliers.
Children's activities and the live broadcast of our local station V2 Radio in Jubilee Gardens.

AFOTA belongs to the Community and there was a wide range of events to appeal to everyone. Throughout the 10 days of the festival the streets of Arundel became the stage for so many. There were established performers who already have a following of fans, to those performing nervously for the first time. Community bands and choirs showcased the vibrance of their skills and collaboration and provided a spotlight to the diversity of the arts available in Arundel and within the Arun District, we know for so many visitors that this has provided inspiration and the desire to take up the arts.

Grants policy

Any grants received have been included as Income on the Statement of Financial Activities. In 2022 Arundel Town Council provided support to the festival with grants to the value of £5,275 and in providing some greatly valued admin support.

FINANCIAL REVIEW

Income in the year was £85,023 (2021 £45,595) and expenditure was £91,562 (£41,316) giving a net deficit of £6,539 (2022 surplus £4,279)

Policy on reserves

The charity aims to break even each year. Any reserves are carried forward to be used in the following year.

Free reserves are the balance of unrestricted funds which at 31 December 2022 was £14,007.

The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

Signed on behalf of the Board of Trustees

Dated: 31 October 2023

S Blaikie Director

Page 2

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF

ARUNDEL FESTIVAL LTD

I report to the trustees on my examination of the accounts of the above charity for the year ended 31 December 2022.

RESPONSIBILITIES AND BASIS OF REPORT

As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act").

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act,

INDEPENDENT EXAMINER'S STATEMENT

I have completed my examination. I confirm that no material matters have come to my attention

in connection with the examination which gives me cause to believe that in, any material respect:

the accounting records were not kept in accordance with section 130 of the Charities Act; or
the accounts did not accord with the accounting records; or
the accounts did not comply with the applicable requirements concerning the form and contents of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Elwyn Waugh BSc, FCA Waugh & Co Chartered Accountants

51 High Street, Arundel, West Sussex BN18 9AJ Dated 30 September 2023

Page 3

ARUNDEL FESTIVAL LTD

STATEMENT OF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2022

Note INCOME Donations Charitable activities Fund raising events Total income 2 EXPENDITURE Raising funds Charitable activities Total expenditure 3 NET INCOME (EXPENDITURE) RECONCILIATION OF FUNDS TOTAL FUNDS BROUGHT FORWARD TOTAL FUNDS CARRIED FORWARD	2022 17,437 44,914 22,672 85,023 5,628 85,934 91,562 (6,539) 20,546 £14,007	2021 16,206 22,901 6,488
		45,595
		2,177 39,139
		41,316
		4,279 16,267
		£20,546

Page 4

ARUNDEL FESTIVAL LTD

BALANCE SHEET AS AT 31 DECEMBER 2022

Note FIXED ASSETS Tangible assets 5 CURRENT ASSETS Debtors 6 Cash at bank and in hand CREDITORS: amounts falling due within one year 7 NET CURRENT ASSETS NET ASSETS THE FUNDS OF THE CHARITY Unrestricted income funds TOTAL CHARITY FUNDS	2022 975 200 13,102 13,302 (270) 13,032 £14,007 14,007 £14,007	2021 1,950
		180 18,416
		18,596 0
		18,596

		£20,546
		20,546
		£20,546

The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.

Signed on behalf of

the Board of Directors

Sharon Blaikie Director

Dated 29 July 2024

Page 5

ARUNDEL FESTIVAL LTD

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022

1. PRINCIPAL ACCOUNTING POLICIES

The following accounting policies have been applied consistently in dealing with items which are considered

material in relation to the company's accounts:

1.1 Accounting conventions

The accounts have been prepared in accordance with:

(a) Accounting and Reporting by Charities: the Statement of Recommended Practice

and the Financial Reporting Standard for Smaller Entities.

(b) the Charities Act and the Companies Act
(c) the historic cost basis of accounting

1.2 Depreciation of tangible assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Equipment: 50% of reducing balance

INCOME

Donations Donations and sponsorship Grants Charitable activities Events Fund raising Concessions - Market stalls Fund raising events Total Income	2022 12,162 5,275 17,437 44,914 1,212 21,460 22,672 £85,023	2021 11,206 5,000
		16,206
		22,901
		2,840 3,648
		6,488
		£45,595

Page 6

ARUNDEL FESTIVAL LTD

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022

3. EXPENDITURE Raising funds Charitable activities Governance cost Accountancy fees Total Charitable activities Total expenditure 4. EMPLOYEE INFORMATION Salary National Insurance Number of employees 5. TANGIBLE FIXED ASSETS Cost At 1 January 2022 Additions At 31 December 2022 Depreciation At 1 January 2022 Charge for the year At 31 December 2022 Net book value At 31 December 2022 At 31 December 2021 6. DEBTORS Trade debtors 7. CREDITORS: amounts falling due within one year Trade creditors Other creditors Other debtors	2022 5,628 84,854 1,080 85,934 £91,562 0 0 £0 0 2022 200 0 £200 270 0 £270	2021 2,177
		38,207 932
		39,139
		£41,316
		0 0
		£0
		0
		Equipment 19,368 0
		19,368
		17,418 975
		18,393
		£975
		£1,950
		2021 180 0
		£180
		0 0
		£0

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