The du Maurier Festival Society presents
# The Du Maurier Festival Society
Company Registration No. 7719529
Registered Charity No. 1143916
(A company limited by guarantee)
Annual Report and Financial Statements for the year ended 31 July 2023
Bennett Jones and Co Unit 22 Callywith Gate Industrial Estate Bodmin Cornwall PL31 2ROQ
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The Du Maurier Festival Society Annual Report and Financial Statements
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|Contents|Page|
|Reference|and Administrative|Details|5|
|Trustees’|Report|3to8|
|Independent|examiner's|report|9|
|Statement|of financial|activities|10|
|Balance|Sheet|11|
|Notes to the|financial|statements|intoas|
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Trustees' Report
# The Du Maurier Festival Society
Reference and administrative details
Charity name: The Du Maurier Festival Society
Company No: 7719529
Charity Reg. no: 1143916
Principal Address: 27 Hill Hay Close, Fowey, PL23 1EL
Independent Examiner: Bennett Jones and Co, Unit 22, Callywith Gate Industrial Estate, Bodmin, Cornwall PL31 2RQ
Principal Bankers: HSBC,i7 Boscawen Street, Truro, Cornwall, TRi 2QZ
## Directors and Trustees
The Directors of the charitable company (the charity) are its trustees for the purposes of charity law and throughout this report are collectively referred to as the Trustees.
The Trustees who served during the year ended 31 July 2023 were as follows:
## Trustees:
Role:
Lynn Mary Goold Chair Katherine Bennett Finance
Christopher Bradish (resigned 23/6/23) Melanie Colton-Dyer (resigned 12/6/23) Amanda Hubbarde
Elizabeth Jane Shaw
Danielle Towe (resigned 22/6/23) David Willmore
Yvette Gamble (appointed 30/3/23)
The Trustees do not have any beneficial interests in the Company.
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The Du Maurier Festival Society Trustees’ Report (continued)
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## Structure, Governance and Management
## Governing Document
The du Maurier Festival Society is a charity established as a company limited by guarantee. It is governed by its Articles of Association dated 25 July 2011, and was registered with the Charity Commission on 22 September 2011. In the event of a winding-up the members agree to contribute an amount not exceeding £10 to the assets of the charity.
## Appointment of Trustees
Trustees are selected to bring a wide range of experience of business, finance, community, education, and entertainment.
If a Trustee ‘resigns’, or the board consider that additional experience, knowledge, and skills are required, then the position is notified and advertised across a broad range of formal and informal networks.
All Trustees maintain overview and scrutiny of a specific aspect of the charity's affairs.
## Organisation
The Trustees meet monthly (or more often if required) with the primary purpose of ensuring the ethical and financial probity of the charity.
Individual Trustees maintain overview and scrutiny of a team and/or particular aspects of the charity's operations, appropriate to their skills and knowledge. They liaise with the volunteer teams, help to develop the action plans and review them.
## Risk Management
## Trustee Responsibility
The Trustees accept that they are the body ultimately responsible for the conduct of the charity and have a duty to ensure that all major risks are assessed, and that appropriate policies and procedures are in place to minimise potential risk, and to respond to unforeseen events.
## Risk Identification Process
Risk assessment has been incorporated into the full business planning cycle. The process involves trustees and the Festival Director in a series of structured exercises including risk assessment matrix, marketing analysis, spheres of influence and SWOT analysis. This
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## The Du Maurier Festival Society Trustees' Report (continued)
## Risk Identification Process (continued)
process identifies a clear priority of objectives from which to establish the Business Plan, Annual Budget (cash flow forecast and reserves policy), team action plans, marketing plan and training needs analysis.
## Risk Assessment Statement
The Trustees consider that through the above procedure they have taken all reasonable steps to identify major risks and confirm that control systems have been established to mitigate those risks.
## Objectives, Strategies and Activities
The objective of the charity 1s to advance the education of the public in the Arts and, in particular but not exclusively in Literature; to include the provision of a festival and related events in and around Fowey (Cornwall), for the benefit of all residents of, and visitors to the area.
The main activity during the year was the fundraising and organisation of the nine-day Fowey Festival of Arts and Literature held in Fowey in May 2023.
## Achievements, Performance and Financial Results
The Festival, held in May 2023 aimed to bring back a full programme, following the 2022 Festival which still fell victim to Covid with a range of cancellations from key speakers. The Society continued to follow the sustainable community model adopted in 2014. This involved holding all events in venues in the town centre and local hotels. The Society organised 47 separate events with further events being organised by local community organisations, groups, and individuals. Ticket sales improved on the previous year but fell short of pre Covid level. Sponsorship from local businesses enhanced our income and built partnerships that we wish to expand in future years. We continue to fundraise and make appeals for support. We were pleased to have been able to pay our Festival Director amounts during the course of the financial year, however this is still not at the remuneration the position commands.
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a
## The Du Maurier Festival Society Trustees’ Report (continued)
Achievements, Performance and Financial Results (continued) Total income for the year was £51,772. This came from the Friends’ membership plan £3,603, Appeals and donations £664, Sponsorship £2,700, Festival Ticket Sales £32,951 Festival Drink Sales £2,069, Fundraising £6,507, Art Trail £1,320 and commission on book sales £1,058.
The total costs for the year were £49,122, comprising £22,124 of direct costs and support costs of £26,998.
The surplus for 2023 was £2,650, after inclusion of the opening surplus of £6,561; net cumulative funds carried forward at 31 July 2023 were £9,211.
## Public Benefit
The Trustees consider that the information above shows that the charity is acting in the spirit of and in accordance with its charitable objectives. The Trustees confirm that they have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers and duties.
## Fundraising Performance
The charity raises funds from the general public by a range of methods including a membership plan for the Friends of the Festival, charitable events and functions. The charity receives the voluntary assistance of individuals to prepare and run the festival. The charity maintains a protocol for utilising the services of these volunteers.
## Financial Review and Results for the Year
This annual report presents an informative account of the charity's financial performance. The charity reviews its financial controls annually.
## Reserves Policy
The charity as it continues to develop will determine a reserves policy based on unrestricted income levels which meet the needs of the charity to manage fluctuations in income, longer term commitments, and unforeseen events. The charity at presents holds no long-term funds to invest.
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The Du Maurier Festival Society Trustees' Report (continued)
## Plans for Future Periods
The Society is managed by a board of volunteer trustees and a part-time Festival Director. Additional tasks are carried out by volunteers and the trustees are grateful to all the stewards and other helpers, who make the festival possible. In total, we estimate that in excess of 1,000 volunteer hours were devoted to the Festival.
Planning is progressing well for the 2024 Festival. In addition, 2024 will see us developing literary opportunities through an outreach programme into schools, within a 25-mile radius of Fowey. The aim of the programme is to inspire children with literature and to encourage the love of reading, througha series of interactive author talks and workshops in schools.
2024 will also see the return of the Festival printed brochure, which we have not published since 2020. This will be part funded by advertising and sponsorship. We are also applying for grant funding to enhance our schools programme and to improve the sustainability of the Festival.
Trustees' Responsibilities in Relation to the Financial Statements
Company Law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the affairs of the charity and of the surplus or deficit for that period. In preparing these financial statements, the Trustees are required to:
- e select suitable accounting policies and then apply them consistently. e observe the methods and principles in the Charities SORP. e make judgements and estimates that are reasonable and prudent. e state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements.
- e prepare the financial statements on the “going concern” basis, unless it is inappropriate to presume that the charity will continue in operation;
- e Prepare an assessment of the risks and opportunities facing the charity.
- Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charity and for ensuring that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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The Du Maurier Festival Society Trustees' Report (continued)
## Independent Examiner
A resolution proposing the appointment of the Independent Examiner for the year 2023-2024 will be put to the Annual General Meeting.
## Statement of disclosure to auditor:
1. So far as the Trustees are aware, there is no relevant audit information of which the charity's Independent Examiner is unaware, and
2. they have taken all the steps that they ought to have taken as Trustees in order to make themselves aware of any relevant audit information and to establish that the charity's Independent Examiner is aware of that information.
This report was approved by the board on / 2Jop2o2a and signed on its behalf by: Director: SY buv o* Date: /2°* feu aie, ers F -/ mn Cow? Lalo
## Small company provisions
- This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
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- Independent Examiner's Report to the Trustees of The Du Maurier Festival Society
[ report on the accounts of the Company for the year ended 31 July 2023 which are set out on pages 10 to 15.
Respective Responsibilities of Trustees and Examiner
The trustees (who are also the directors ofthe Company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to: - examine the accounts under section 145 of the 2011 Act; - follow the procedures laid down in the General Directions given by the Charity Commission under section 145 (5) (b) ofthe 2011 Act; and - state whether particular matters have come to my attention.
## Basis of Independent Examiner's Report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity anda comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view' and the report is limited to those matters set out in the statement below.
## Independent Examiner's Statement
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect the requirements: - to keep accounting records in accordance with section 386 of the Companies Act 2006; and - to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. bor th Bennett Jones and Co Unit 22, Callywith Gate Gate Industrial Estate
Unit 22, Callywith Gate Gate Industrial Estate Bodmin, Cornwall, PL31 2RQ
Date 10" January 2024
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The Du Maurier Festival Society Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31 July 2023
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|Yearended|Year ended|
|31 July 2023|31|July 2022|
|Note|iE|S|
|Incoming resources|
|Incoming resources from|generated funds|
|Voluntary income|2|4,267|8,994|
|Activities|for generating funds|3|2,700|5,809|
|Incoming resources from|charitable|activities|4|44,805|45,341|
|Total incoming resources|51,9772|60,144|
|Resources|expended|
|Costs|of generating funds|
|Charitabie|activities|5|49,122|60,666|
|Total|resources|expended|AQ,122|60,666|
|Reconciliation|of funds|
|Surplus/(Deficit)|of funds|for the year|2,650|[522||
|Total funds brought forward|6,561|7,083|
|Total funds|carried forward|9,211|6,561|
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All incoming resources and funds generated are unrestricted funds.
The notes on pages 12 to 15form an integral part of thesefinancial statements
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## The Du Maurier Festival Society Balance Sheet as at 31 July 2023
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31 July 21 July
2029 2022
Note 2 Z
Current assets
Debtors 9 O 2,622
Cash at bank and in hand 9,931 Ary
O 9,869
Creditors
Amounts falling due within one year 10 (720) (3,308)
Net current assets 9,211 6,561
Net assets 9011 6,561
Represented by:
Unrestricted income funds 9,211 6,561
Total charity funds 9,211 6,561
or
024 and signed on its behalf.
This report wasway boardon /:2 j
signed SUf/ue com / /
Director: bYnwun GcorecDdD
All assets and liabilities are held in unrestricted funds. For the financial year ended
31 July 2023, the charity was entitled to exemption from audit under section 477 of the
Companies Act 2006 relating to small companies.
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The members have not required the charity to obtain an audit of its accounts for the period in question in accordance with section 476. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The notes on pages 12 to 15form an integral part of thesefinancial statements
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## The Du Maurier Festival Society Notes to the Financial Statements for the year ended 31 July 2023 1 Charity status
The charity is a charity limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £10 towards the assets ofthe charity in the event of liquidation.
The Address of the registered office is :
27 Hill Hay Close, Fowey, Cornwall, PL23 1EL
## 1a Accounting policies
Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance The financial statements have been prepared in accordance with Accounting 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 (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.
## Basis of preparation
The Du Maurier Festival Society meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Exemption from preparing a cash flow statement. The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
## Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 ofthe Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
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## The Du Maurier Festival Society
Notes to the Financial Statements for the year ended 31 July 2023
||Year ended|Year ended|
|---|---|---|
||21 July2023|31 July2022|
||E|£|
|2. Voluntaryincome|||
|Donationsandgrants|||
|Friends|3,603|4,375|
|Appealsanddonations|664|4,419|
|Grants|O|200|
||4,267|8,994|
|3. Activities forgeneratingfunds|||
|Sponsorship|2,700|5809|
|4. Incomingresourcesfromcharitable|activities||
|Eventincome|||
|Ticket sales|22,951|36,002|
|Art Trailmembership|1,120|224|
|Booksales commission|1,058|1,122|
|Fundraising|6,507|5,228|
|Programme adverts|200|100|
|Sale ofdrinks at events|2,909|2,555|
||44,805|45,341|
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- The Du Maurier Festival Society
- Notes to the Financial Statements for the year ended 31 July 2023
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|Year ended|Year|ended|
|31 July 2023|31 July 2022|
|2|E|
|5. Total resources|expended|
|Direct|costs|
|Cost|of goods|sold|29|194|31,520|
|Support|costs|
|Consultancy|costs|—|Festival|Director|15,750|11,000|
|Printing,|posting and stationery|1,085|iat|
|Sundry and other costs|2,258|2,576|
|Travel and subsistence|3,548|3,195|
|Website|costs|a|50|4,040|
|Event management|marketing|AO5|2,292|
|Event management commission|O|3,208|
|Competition|prizes|O|894|
|Accountancy fees|720|720|
|26,998|20,146|
|Total resources expended|49,122|60,666|
|6.|Trustees'|remuneration and expenses|
|No trustees|received any remuneration|during the period.|
|7.|Employees'|remuneration and consultancy costs|
|Consultancy costs|—|fees paid to the Festival|Director|15,750|11,000|
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The Company had no employees during the year ended 31 July 2023.
## 8. Taxation
The Company is a registered charity and is, therefore, exempt from taxation.
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The Du Maurier Festival Society Notes to the Financial Statements for the year ended 3:1 July 2023
## 9. Debtors
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31 July 2023 31 July 2022
E E
Prepayments and accrued income O 2,622
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10. Creditors: Amounts falling due within one year
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21 July 2023 31 July 2022
£ E
Trade creditors O 750
Other creditors O 1,838
Accruals and deferred income 720 720
720 3,308
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11. Analysis of funds |
At3iJuly Incoming Resources At 31 July
2022 resources expended 2023
L £ £ £
General Funds
Unrestricted income fund 6,561 AL (49,122) 9,211
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