**Company number: 07977987 Charity Registered Number: 1149001**
## **BLOOMSBURY FESTIVAL (LIMITED BY GUARANTEE)**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2020**
## **BLOOMSBURY FESTIVAL**
|**CONTENTS**||
|---|---|
||Page|
|**Reference and administrative details of the charity, its trustees and advisers**|1|
|**Trustees' report**|2 - 4|
|**Independent examiner's report**|5|
|**Statement of financial activities**|6|
|**Balance sheet**|7|
|**Notes to the financial statements**|8 - 11|
**BLOOMSBURY FESTIVAL**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2020**
|**Trustees**|Katherine Elizabeth Anderson (appointed 15 May 2020)|
|---|---|
||Michael Buffham-Wade (resigned 19 March 2020)|
||John Robinson|
||Tim Coker|
||Maurice Biriotti, Chair|
||Stella Bruzzi|
||Joe Hancock|
||Gill Henderson|
||Nicola Logan|
||Nick Potter|
||Abigail Tan-Giroud|
|**Company registered**||
|**number**|07977987|
|**Charity registered**||
|**number**|1149001|
|**Principal office**|Senate House|
||Malet Street|
||WC1E 7HU|
|**Accountants**|Elman Wall Limited|
||Chartered Accountants & Registered Auditors|
||8th Floor|
||Becket House|
||36 Old Jewry|
||London|
||EC2R 8DD|
|**Bankers**|The Co-Operative Bank|
||PO Box 101|
||Balloon Street|
||Manchester|
||M60 4EP|
|**Solicitors**|Bates Wells & Braithwaite|
||2-6 Cannon Street|
||London|
||EC4M 6YH|
Page 1
## **BLOOMSBURY FESTIVAL**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2020**
The Trustees present their annual report together with the financial statements of the charity for the year 1 January 2020 to 31 December 2020. The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), 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) as amended by Update Bulletin 1 (effective 1 January 2015).
Since the charity qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.
## **Objectives and activities**
The Charity's principal objective is to deliver and support an annual cultural festival in Central London, and in particular the area of Bloomsbury, in conjunction with local creative and business partners, institutions and residents.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the charity commission relating to public benefit when deciding what activities the charity should undertake.
## **Achievements and performance**
In 2020 Bloomsbury Festival had to respond quickly and actively to the pandemic crisis. The Festival adapted and has not only survived in 2020; it has thrived. The team responded rapidly to the challenges of fundraising replacing income lost from local sponsors with public sector grants and trust funds, enabling us to embrace a whole new direction in the way we engage audiences, using film, radio and digital media and presenting work outdoors as well as in gallery spaces.
With the support of an Arts Council England emergency grant, which replaced much of our smaller scale sponsorship we were able to retain a full team and programme 10 days of activity in October 2021, which reached an audience of over 30,000. We also adapted our Festival in a Box activity to reach isolated people in Bloomsbury through a box of activities delivered to around 2000 homes. To continue in one form or another was vital for both the festival and its partners, including our core production team, our artists, performers and technicians. Just one aspect of the festival was postponed to 2021 - the outdoor street festival opening in Store Street – and the budget for that is brought forward into the 2021 financial year to offer a summer park based event in Bedford Square Gardens.
Our greatest success in 2020 was that, despite the pandemic, we were able to offer a substantial festival programme including performances, talks, concerts, exhibitions and creative engagement projects. Events took place both outdoors and indoors, some with small live audiences but with many filmed and streamed for a digital audience.
## **Financial review**
Donations, grant income, sponsorship and festival income during the year totalled £208,143. Charitable expenditure and other outgoings totalled £167,437. Income exceeded expenditure by £40,706, leaving funds of £57,244.
The Income and Expenditure statement provides a split of total income received. The Charity is very grateful for the ongoing support from a number of partners. The ongoing support of our sponsors and grant funders has never been more important and has allowed us to weather the storm of the pandemic and emerge in a healthy and positive position
Page 2
## **BLOOMSBURY FESTIVAL**
## **TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Plans for future periods**
We are planning for our 2021 festival and looking further ahead at fundraising for 2022. As pandemic restrictions ease we plan to offer live events, but with our learning from 2020 we will continue to offer additional digital coverage which helps both offer an alternative means of delivering festival events if the pandemic situation changes, and also the means of reaching a wider, more geographically spread audience. In 2021 we are particularly focusing on the development of our New Wave, offering new opportunities to emerging artists.
## **Going concern**
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.
## **Reserves policy**
At the year end the balance sheet reserves of £57,244 were held in an unrestricted general fund.
## **Structure, governance and management**
## **Constitution**
The charity is incorporated and limited by guarantee. It is governed by the Memorandum and Articles of Association, dated 6 March 2012. There have been no changes in the objectives since the last annual report.
## **Method of appointment or election of Trustees**
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association.
Page 3
BLOOMSBURY FESTIVAL
TRUSTEES. REPORT (¢ontinued}
FOR THE YEAR ENDED 31 DECEMBER 2020
Trust••s' r•spon8ibiliti•s stat•m•nt
The Trustegs (who arg also dir8ctOfS of Bloomsbury Fesllval for the purposes of compony18w) are re8ponslble
for preparing the Trustees, report and the flnanclal slalements in accordance wf(h appliceble law and Unil8d
Kingdom Accounting Stsndards (United Kingdom Genèrally Accepted Accounling Practic81.
C(*np8ny18w requlres the Trust8es to preparè financi81 ststemenls for e8ch finonryal year. Under company law
the Trustees must not approv8 ihe IlnancS818tstsmenls unless they are satlsfled that they glve a tru8 and fair
view of the st818 of affairs of the charit8ble company and of tho incoming fesources and applkatlon of resources.
includrng the income 8nd expenditurè. of thg charitable mPanY for Ihat period. In preparing the88 financlal
slalements, the Tru51ees are requlred to..
select suSlabl8 accounting polici88 and then apply Ihern ¢onsSslenly,
observe the method8 and pflnclples In the Charit588 SORP..
make judgments and accounllng estlmale8 that are re880nable ond prud8nl;
preparg the finanal statements on the golng conc8m ba818 unles$ tt Is Inapproprlalo to presuma that th8
¢haritable Gompany will contlnue In operation.
The Trustegs 8re responsible for keeplng adequate accounting records that ar8 sufficient to Show and explain
the charflable compan18 transaction8 and dl8clos8 wllh resn8b19 accuracy al any lime the financial position ol
the charitable company and enable Ih8m lo ensure that th8 financial 8talemenls comply with the Companies Act
2006. They aro also responsibl8 for $8feguarding the assets of Ihe charltablo company and honce lor toklng
rea8onabl8 51ep5 for th8 pr8vanlion and det'0n of fraud and other irregularilies.
Thi8 rèport wa$ approvgd by Ihg Truste86, on 0910612021 and slgned on Iholr behalf by.
f¢lA.-
MaurlGO Blrlottl, Chalr
John Robln•on
Page 4
## **BLOOMSBURY FESTIVAL**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Independent Examiner's Report to the Trustees of Bloomsbury Festival (the 'charity')**
We report to the charity Trustees on our examination of the accounts of the charity for the year ended 31 December 2020.
This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our work has been undertaken so that we might state to the charity's Trustees those matters we are required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for our work or for this report.
## **Responsibilities and Basis of Report**
As the Trustees of the charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied ourselves that the accounts of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, we report in respect of our examination of the charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out our examination we have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent Examiner's Statement**
We have completed our examination. We can confirm that no matters have come to our attention in connection with the examination giving us cause to believe:
1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement 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 (FRS 102)].
We have no concerns and have come across no other 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.
Signed: Dated: 9 June 2021
## **Elman Wall Limited**
Chartered Accountants & Registered Auditors
8th Floor Becket House 36 Old Jewry London EC2R 8DD
Page 5
## **BLOOMSBURY FESTIVAL**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020**
|**Note**
**Income from:**
Donations and grants
2
Festival fund-raising
Other income
**Total income**
**Expenditure on:**
Charitable activities:
Charitable expenditure
Management and administration
**Total expenditure**
**Net income before other recognised gains and losses**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**2020**
**£**
**163,534**
**43,738**
**871**
**208,143**
**90,690**
**76,747**
**167,437**
**40,706**
**40,706**
**16,538**
**57,244**|_2019_
_£_
_119,151_
_69,527_
_1,448_|
|---|---|---|
|||_190,126_|
|||_112,729_
_75,469_|
|||_188,198_|
|||_1,928_
_1,928_
_14,610_|
|||_16,538_|
The notes on pages 8 to 11 form part of these financial statements.
Page 6
BLOOMSBURY FESTIVAL
REGISTERED NUMBER: 07977987
BALANCE SHEET
AS AT 31 DECEM8ER 2020
2020
2019
Currnnt a8••t•
Debtor8
Cash al bank and in hand
17,222
45,818
600
36,541
63,040
37, 141
Cr•dltors: amounts falling due thin one
year
15.796)
(20,603)
N•t ¢urr•nt a*••ts
57,244
16.538
N•t •88•t•
57,244
16.538
Charfty Fund•
Unreslrlcled lund8
57,244
16.538
Total fund•
57.244
16,538
The charitys financial slal8menls have baan prepared In accordance with th8 provisions applicablo to
companies sublecl lo th• small companies regime.
Tha Trusl8•s COnder that thg charlty18 enlled lo exampuon from Ihg requlremenl lo have an Bud und¢r the
provisions of saction 477 of the Companies Act 20061"Iho Acl'l and members have not requirod the charlty lo
obtain an audit for the year In questlon in ac¢ordanoe with section 476 of the Act.
The TNsl898 acknowledgè Ih8lr r8spon5ibS1itlgs lor complylng wlth the requirements of tho Companles Act 2006
with r89pgcI lo accounting r8cords and the preparation DI flnancial statements.
Thè fin8no.al ¥lalements were approved and authorisgd for i¥sue by Ihg Tru8tees on 0910612021
sign8d on thgir behalf, by..
and
{L&g- '
M•urlc• Blrlottl. Chair
John Roblnson
The notes on pages 8 10 11 fomi part of these financlèl Stalemgnts.
Page 7
**BLOOMSBURY FESTIVAL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **1. Accounting Policies**
## **1.1 Basis of preparation of financial statements**
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) and the Companies Act 2006.
Bloomsbury Festival 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.
## **1.2 Reconciliation with previous Generally Accepted Accounting Practice**
In preparing these accounts, the Trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparative items was required.
No restatements were required.
## **1.3 Company status**
The charity is a company limited by guarantee. The members of the company are the Trustees named on page 1.
## **1.4 Income**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters.
Charitable activities and Governance costs are costs incurred on the charity's operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.
## **1.6 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Page 8
## **BLOOMSBURY FESTIVAL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **1. Accounting Policies (continued)**
## **1.7 Cash at Bank and in hand**
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **1.8 Liabilities and provisions**
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
## **1.9 Financial instruments**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **1.10 Government grants**
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.
## **1.11 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
## **2. Income from donations and grants**
|Donations
Grants
Total donations and grants
_Total 2019_|**2020**
**£**
**4,429**
**159,105**
**163,534**
_119,151_|_2019_
_£_
_6,621_
_112,530_|
|---|---|---|
||||
||||
|||_119,151_|
||||
Page 9
## **BLOOMSBURY FESTIVAL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **3. Direct costs**
|Marketing and PR expenditure
General production costs
Event costs
Other direct costs
Festival In A Box expenditure
Digital Project
_Total 2019_|**2020**
**£**
**26,611**
**8,468**
**31,832**
**2,029**
**5,829**
**15,921**
**90,690**
_112,729_|_2019_
_£_
_29,459_
_9,530_
_68,833_
_2,119_
_2,788_
_-_
_112,729_|
|---|---|---|
||||
## **4. Support costs**
|Independent examination fees
Printing, postage and stationery
Rent
Office costs
Travel and subsistence
Telephone
Trustee meetings
Consultancy and freelance costs
Intern costs
Legal, accountancy and professional fees
Insurance
IT and software costs
Bad debt expense
_Total 2019_|**2020**
**£**
**1,750**
**458**
**350**
**-**
**172**
**50**
**18**
**55,633**
**2,236**
**13,470**
**949**
**1,661**
**-**
**76,747**
_75,469_|_2019_
_£_
_1,750_
_264_
_647_
_250_
_44_
_-_
_128_
_53,002_
_3,400_
_14,163_
_600_
_912_
_309_
_75,469_|
|---|---|---|
||||
## **5. Net income/(expenditure)**
During the year, no Trustees received any remuneration or had any expenses reimbursed.
Page 10
## **BLOOMSBURY FESTIVAL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **6. Debtors**
|**Debtors**|||
|---|---|---|
|Other debtors
Prepayments and accrued income|**2020**
**£**
**2,303**
**14,919**
**17,222**|_2019_
_£_
_-_
_600_|
|||_600_|
## **7. Creditors: Amounts falling due within one year**
|**Creditors: Amounts falling due within one year**|||
|---|---|---|
|Trade creditors
Other taxation and social security
Accruals and deferred income|**2020**
**£**
**2,696**
**-**
**3,100**
**5,796**|_2019_
_£_
_1,500_
_9,251_
_9,852_|
|||_20,603_|
## **8. Related party transactions**
There were no related party transactions during the year.
Page 11