REGISTERED CHARtTY NUMBER: 1137844 ort of the Trustees and Unaudited FinanclAI Statements for the Year Ended 31 Au st 2024 for Broadwg Arts Festlval Trust Attw(iods Chartcrcd Certified Accountants 90-92 High Strcct Evcsham Worccslcr5hire WRI14EU
Broadwa Arts Festival Trust Contenls of the Financial Statements for the Year Ended 31 Au ust 2024 Page Report of the Trustees Independent Examfiner's Report Stat¢m¢nt of FinanclJl Activities Balance Shcel Not¢$ to th¢ Fin#n¢lal Statements 6 to 10 Detalled Statement of Financial Activities
Broadwa Arts Festival Trust Re ort ol the Trustees for the Year Ended 31 Au ust 2024 The trustees present their report with the financial slaiemenls of the charity for the year ended 31 August 2024. The truslees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). OBJECTIVES AND ACTtVlTIES Objectives and aims To promote, maintain, improve and advance the education of the public in the ths, in parncular but not exclusively fine affj rnusic, drama and the perfom]ing arts, by the provision of d biennial festival in Broadway, Worcestershire. The charitable aim is lo encourage an educaliondl arts legacy in the form of our local primary and secondary schools outreach programme and student bursaries for those pursuing a career in the arts. The Charity aims to make annual financial grants to assist young people from the Broadwdy area who are studying the arts. During the year 18 grants {2023 11) of between £1,000 and £2,000 (2023 £1,000 and £3.500) each were awarded to suitably qualified candidates. SlgnlfAeAnt a¢tlvltl¢s The Charity holds a biennial art.q festival. with a series of arts-related events between festivals. The latest festival was held in 2023. Public bcncfjt The Trustees have, throughout, kept in mind Seclion 4 of the Charities Act, 2006, and the guidance of the Charities Commission in relation lo Public Benefit. To that end that have ensured.. that as far as has been practicable, access lo all venues has been available lo (hose with disabilitie.q' that where there has been a charge for admission lo any of the events the price has been within reach of those with limited means and proportionate lo the nature of the event. As the aims and objectives of the Broadway ArL8 Festival Tru.st are.. To promote, maintain, improve and advance the ediicalion of the public in thL arts, WL have, by advLbrti%ing and othenvise, tried lo ensure that no-one who has an interest in or who would like lo learn more about Ihe arts .8hould feel in any way excluded from the various evenli and aclivilies which form parl of the arts testival and ils ancillary events. The trustees are satisfied that there were no serious incidents or other matters, during Ihe year in question or oihenvise, which should be brought to ihc attcntion of th¢ Charity Commission. The Trust gives due consideration to mthjor risks and has a system and procedures lo manage them. A Risk Rcgi51er is mainlaincd and is updated quarterly. FINANCIAL REVIEW Financial position The accounts for the year cndcd 31 August 2024 have been prepared and %ubmitled on a receipts basis. They indicale an cx¢css of in¢om¢ ov¢r ¢xp¢nditur¢ of £1,29412023- £7,317) The year-cnd tund balance wa5 £76,793 {2023.' £75,499) held primarily in cash al the bunk. The charity aims to hold sufficient reserves to allow the biennial Arts Festival to continue for the foreseeable future. FUTURE PLANS The main arts festival will return in June 2025 wilh an aim to conduct smaller monthly events in the interim. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing documetjt The charity Is controlled by ils govcrning document, a dccd of trust and constitutes an unincorporated charily. Broadway Arts Festival Trust is an unincorporated trust governed by a Trust Deed dated 15 June 2009 as amended by a Deed dated 29 August 2013. Organisa¢ional structure The Charity is structured with a Board of Trustees overseeing a Management Convnittee. Page I
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Inde endent Examiner's Re ort to the Trustees of Broadw'ai, Arts Festii'al Trust Independent examiner's report to the trustees of Broadwav Arts Festival Trust I report to the Lhdrily trustees on my examination of the accounts of Broadway Arts Festival Trust (Ihe Trust) for the year ended 31 Augiust 2024. Responsibilities and basis of reporl As the charil) trustees of the TIu5t you are responsible for the preparation of the accounts in accordance with the requirements of Ihe Charities Act 2011 ('Ihe Act,). I repon in respect of my examination of the Trust's accounts carried oui under Seciion 145 of (he Act and in carrying out my examination I have followed all 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 exan)inaiton giving me cause to believe thai in any material respect: accounting records ivere not kept in respeci ot. the Trust as required by Seciion 130 of the Act; or the accounts do not accord with those records. or the acc()unls do not comply 'Ith the <ippliiable reqliiremenls concerning the forni and conlenl of accounts set out in the Charities (Accouiits and Reports) Regjulalions 2008 other Ihiln any requirenienl Ih<l1 the accolinls gFive a true and fair Vie Kvhich is not a mailer considered as pari of an independent examination. I have no concerns and have conie across no ()Iher mc111ers in connection I.]1h the examiiiatioii 10 which attention should b¢ drawn in tl)is report in order to enable a proper understanding ot the accounts lo be r¢a¢h¢d. Claire L Armstrong, FCCA Allwoods Ch<lrtei-ed Certified Accoiinlanls 90-92 Higyh Sireel Eve5ham Worceslersh ire WRII 4EU Date.. J02S Page 3
Broadwa Arts Festival Trust Statement of Financial ActiN'ities for the Year Ended 31 Au ust 2024 31.8.24 31.8.23 TotAI funds Unrestricted fund Notes INCOME AND ENDOWfvIENTS FROi¥I Donations and l¢gacies 130,806 167,517 Other trading activities Invcstment iDCOrnC Other Income 980 1,274 499 3.214 499 2,194 Tot41 133,559 173,424 EXPENDITURE ON Raising funds 97,891 130,177 CharitAble Actlvltles School aclivilies Bursaries 5,648 27,500 6,543 25,500 Other 1,226 3.888 Total 132,265 166,108 NET INCOME 1,294 7,316 RECONCILIATION OF FUNDS Tolal funds br<)ughi fonvard 75,499 68,183 TOTAL FUNDS CARRIED FORIVARD 76,793 75,499 The notes fonn part of these financial statements Page 4
BI'oAd%i #i Arls Feslii 1¢ l Trust BrfilAllCe Sheet 31 .4uuus[ ?024 31.8.24 fuiid FI KEII .-ISSF.I'5 C'I'RRF-.NT,iS%4F.'r. i.uoij 77.11:, 78.0:, C'Rb-.l)I'l'l)R 11.4.141 F'I. ( I RRF-. N'I. .4.SSE.I 76.11¥ 75.491) I'()'l .11. 1,41 L,F'.i.S ('1 KKF. N I Bl l.Il'l E.$ 76.79.1 E"1 .-IS.SLTS 76,793 76.793 7.4LI(I T()T 11. Fl'N'D 76.71)3 74.411() r4(11rd uiid
Broadiva Arts Festival Trust Notes to ihe Financial Statements for the Year EDded 31 Au ust 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial 5tat¢ments of the chariry, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reponing Standard applicable in the UK and Republi¢ of Ireland (FRS 102) (effe¢tive l January 2019),. Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the hi.%torical cost convention. Income All income is recognised in the Siatemenl of Financial Activities once the charity has entitlemen( to the funds, it is probable that ihe income will be received and the amount can be rneasuied reliably. Expendilure Liabilities are recognised as expenditure as soon as there is a legal or conslruclive obligation committing the charity lo that expenditure. it is probable that a transfer of e¢onomic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is aecounted for on an accN&ls basis and has been classified under headings that aggregate all ¢osl related to the category. Where Costs cannot be directly altribuled lo particular headings they have been allocated lo activ'ities on a basis consiglent with the use ot- resources. Cjrants offered subject to conditions which have not been mel al the year end date are noted as a commitment but not accrned as expenditure. T#n2lblc fixed asset$ Depreciation is provided al ihe following annual raies in order lo write off each asset over its ¢slimal¢d useful life. Plant and machinery 250/n on cosi Taxation The charity is exempl from lax on ils charitable activities. Fund accounting Unr¢stricted lunds can be used in accordance with the charitable objectives al the discretion of the trustees. Reslricled funds can only be used for particular restricted purpose% within the objects of the charity. Restriclions arise 'hen 8pecified by the donor or when fvnds are raised for particuldr reslriclcd purposes. Further explanation of the nature and purpose of cach fund is inLluded in the notes lo the financial stalemenls. Pension costs and olher post-retirement benefits The charity operates a defined contribution pen.%ion scheme. Contributions payable to the charity's pension scheme are charged to the Siatcment of Financial Activities in the period lo which they relate. Page 6 continued...
Broadwa Arts Festival Trust Notes to the Financial Statements - continued for the Year Ended 31 Au ust 2024 OTHER TRADILNG ACTIVITIES 31.8.24 31.8.23 Merchandise sales Bar sales 305 675 610 2,604 980 3,214 INVESTMENT INCOME 31.8.24 31.8.23 Dcposil <i¢count interest 1,274 499 RAISING FUNDS Ralslng donations and legacies 31.8.24 31.8.23 Website Progranunc dcsign Eveni expense Compeiili(In expenses ariBEAT Artisl fccs Hire Support costs 2,436 410 1,106 14,322 1,725 1,140 5,079 11.359 5,518 35,046 23,010 45,780 14,687 3,617 56,117 92,695 128,657 TRU.STEES' REMUNERATION AND BENEFITS There were no Iru.8tccs' rcmuneration or other benefits for the year endcd 31 August 2024 nor for the year ended 31 Au8115t 2023. Tru5tees' expenses There were no 31 Augu812023. trustee5' ¢xp¢nses paid for Ihc ycar ended 31 August 2024 nor for Ihe ycar cndcd Trustees were rcimburscd lotal expenses of £nil {2023.. £nil). Page 7 continued...
Broadiva Arts Festival Trust Notes to the Financial Statements- continued for ihe Year Ended 31 Au ust 2024 CONIPARA TIVES FOR THE STA TEMENT OF FINANCIAL ACTIVITIES Unrestricted fund INCOME AND ENDOWMETr4TS FROM Donations and legacies 167,517 Other tr(idingy activities Investment in¢otne Other income 3.214 499 2,194 Total 173,424 EXPEfiDITURE ON Raising fimds 130,177 Ch#ritable #etivitles School activities Bursaries 6.543 25,500 Other 3,888 Total 166,108 IIET INCOME 7,316 RECONCILIATION OF FUNDS Total funds brought torward 68,183 TOTAL FUNDS CARRIED FORWARD 75,499 TANGIBLE FIXED ASSETS Plant and machinery COST At I September 2023 Additions 1,711 737 At 31 August 2024 2,448 DEPRECIATION At I September 2023 Charge for year 1,711 62 At 31 August 2024 1,773 LNET BOOK VALUE Ai 31 August 2024 675 Ai 31 August 2023 Page 8 continued...
Broadwa Arts Festival Trust Notes to the Financial Statements - continued for the Year Ended 31 Au ust 2024 DEBTORS: AMOUNTS FALLING DUE WITHIYL OLN'E YEAR 31.8.24 31.8.23 Tradc dcbtors 1.000 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.8.24 31.8.23 Trade creditors Taxation and social security 541 893 2,531 1,434 2,531 io. MOVEMENT IN FUNDS Nel movement in funds At 1,9.23 31.8.24 Unrestricted fund$ Gcneral fund 75,499 1,294 76,793 TOTAL FUNDS 75,499 1,294 76,793 Net movemenl in funds. included in the above are as follows.. Incoming resourccs Resourccs expended Movcmcnt in fijnds Unrestricted fund$ General fund 133,559 (132,265) 1,294 TOTAI, FUNDS 133,559 (132,265} 1,294 Con)parative5 for Tnovement in funds Nel movement in funds Ai 31.8.23 Ai 1.9.22 VnrestTl¢ted funds Gcneral fund 68,183 7,316 75,499 TOTAL FUNDS 68,183 7,316 75,499 Page 9 continued...
Broadwa Arts Festival Trust Notes to the Financial Statements - con¢illu¢d for the Year Ended 31 Au ust 2024 io. MOVEMENT IN FUNDS- continued Comparative net mov¢mcnt in funds, included in the above are as follows- Incoming resources Resources expended Movement in ndS Unrestricted funds General tund 173,424 {166,108) 7,316 TOTAL FUNDS 173,424 (166,108) 7,316 A current year 12 months and prior year 12 months combined position is as follows: Nel movement in fimds Al 31.8.24 At 1.9.22 Unrestricted funds General nd 68,183 8,610 76,793 TOTAL FUNDS 68,183 8,610 76,793 A Cuent year 12 months and prior year 12 months combined net tnovemenl in funds, included in the above are as follows.. Incoming r¢sour¢es Resources expended Movement in ndS UnTestri¢t¢d funds General fund 306,983 (298,373) 8,610 TOTAL FUNDS 306,9113 (298,373) 8.610 RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 August 2024 {2023'. £nill. Pdge 10
Broadwa Arts Festival Trust Detailed Statement of FÉnancial Activities for the Year Ended 31 Au ust 2024 31.8.24 31.8.23 INCOME AND ENDOWMENTS Donations and legacies Benefactors Donations Gift aid reclaimcd Grants - other Grants - The Elml¢y Foundation Advcrtising income Festival income Event income R¢nlal income Competition income Auction income Sponsorship 16,665 1,349 3,781 6,114 7,000 21,135 3,061 4,345 9,500 3,675 80,352 17 15,319 24,413 52,607 74 33,573 6,143 3,500 5,700 130,806 167,517 Other trAding activitles Merchandise sales Bar sales 305 675 610 2,604 980 3.214 Investment Income Dcposit aLcount ini¢rest 1,274 499 Other income Sundry rcccipls 499 2,194 Total incoming resources 133,559 173,424 EXPENDITURE Raising donatlons and legacies Website Programme design Event expeT].%es Competition expenses artBEAT Artlst fees Hire 2,436 410 1,106 14,322 1,725 ,140 5,079 11,359 5,518 35,046 23,010 14,687 3,617 36,578 82,877 Other trading actlvitles Barlrnerchandise stock Commission 4,876 320 1,520 5,196 1,520 This page does not form part of the statuiory financial statemen15 Page 11
Broadwa Arts Festival Trust Detailed Statement of Financial Activities for the Year Ended 31 Au ust 2024 31.8.24 31.8.23 Other trading activities Charitable activities School activities QTranls to individuals 5,648 27,500 6,543 25,500 33,148 32,043 Other Entertainment Security 1,226 2,889 999 1,226 3,888 Support Costs Management Wages Pensions Insurance Travclling Tclcphone and w¢bsil¢ Poslagc and slalionery Advertising and PR Donations 40,000 1,688 1,693 444 163 65 1,621 2,643 50 4,091 12,815 50 47,760 17,563 Flnance Bank and card charges 1,750 2,174 Other Plani and machinery 62 Governance costs Teihnical services FLsiival man¢igemenl expense5 Managemei)t fee5 Legal and prnfessional fees Accountancy and bookkccping 1,100 14,000 5,250 6QO 5,093 1,500 150 4,895 6,545 26,043 Total resourcLs expended 132,265 166,108 Net incojne 1,294 7,316 This page does noi forni part of the statutory financial statements Page 12