Registered number.. 079T7987 Charlty numb•r. 1149001 BLOOMSBURY FESTIVAL (LIMITED BY GUARANTEE) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS For tho yoar ondod 31 DECEMBER 2023
BLOOMSBURY FESTIVAL ri r.4k CONTEiirs R•f•r•nc• and admlnlstrakn d•lall• of th• ¢harfty. It8 Trusts•B and athils•rs Trusts•s' r•wt Independ•nt •xamln•trs r•pt statsm•nt of flnan¢i*l •ctivlll•8 Not•s to th• Iln•nctsl ¥tatsm•nts 8-16
BLOOMSBURY FESTIVAL REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND PDVISERS FOR THE YEAR ENDED 31 DECEMBER 2023 Trust••s Kath&rln• Anderson Maurice Biriotb, Cha Stella Bruzzi rim Cokgr Joe Hancock Nlcola Logan Iwdlgned 24 April 20241 Nick Potter AbhJall Tan-Giroud Prolessor Rosalind Ann Raine Mark Palrick Savage Andrew Choi (appointed 17 January 20241 Maya Cath8rfn& Wljson lappolntad 26 Marth 20241 Anna Paschali lappointed 26 March 20241 Company registered numbw 07977987 Charlty r•glstsr•d numbor 1149001 PrIn¢l1 office 8th Floor Bed(et House 36 Old Jevry EC2R 8DD Xelnadin Lonthjn Limited Accountants 8th Flo Becket Houso 36 Old Jgwry LorKlon EC2R 8DD B•nkers Thé Q>Opeth've 8ank POBOX 101 Balloon Str¢sl Manchosler M60 4EP Sollciloffs Bates We118 & 8raithwaite 2-6 Canncffl Stre8t London EC4M 6YH Pa1
BLOOMSBURY FESTIVAL. TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees prasènt thèlr annual report Icg8thèr wilh thè finandal siatements of the tharlty for thè yr 1 January 2023 to 31 Dgcgmbgr 2023. Tho Annual pOrt serves the purposes of both a Trustees, report and B dlrectors, report under company law. The Trustees Djnfimi that the Annual report and fin8nci81 statgmgnts of the th8ritsblg wrnpany coMY thg current statLrtory requirements, the requirements of the rhaiitable compan¥s 90MIng dunI and the prowsions ol Ihe Statèment of Rèeomm$ndgd Practice ISORPI aPIcable to Charities preparing their ac(x)unts in accordance with th8 Financlal RèKx)rting Standard applicable in the UK and Republic of Ireland IFRS1021 18ffect 1 Jgnuary 20191. Since the charSty qu81ifig$ as small urmler sect•Jn 382 of the Companies Act 2Q06. the Strategic rewrt required of medlum and large companies under th8 Companles Art 2006 IStr8tegl¢ Rgport and Dlro¢lors' Roportl Regulations 2013 ha8 been omitted. ObJèetl¥ts and xctivitse Pollel•s and objectives Th• Charitys princlpal objective is to ddlver atvj support an 8nnu81 cultural festival In Centr81 London. and In parClar tho area of Btoomsbury. in eonjunctlort with local creative and business p8rtner8, ¥t11110n5 and resld¢nts. Illl s8tting objectives and plannlng ftt actNftt8$, the TTU3tees have gwen due consideration to general guidance blished by th8 Charrty Commis*¢n relats'ng to put41c b8n8fit, includlThJ tho guidance 'Publlc benefft.. running a charity IPB21'. Achièvemènts and perforrngnce & Achl•v•m•nts and performanc• Bloomsbury Fgstfval w<¥ks with over 1CIJ partners and numerous Blctyjmsbury v8nuas è8ch yaar to offor 8 10 day annual fèstival in October, celebraling the Ojkn. emerging talent and local comrnunttses in and around Bloomsbury. The festlval relies on annual sponsorship revenue from local buslng8ses, grants from local institutions, and wbllc s•ctor grant income with some comm8rcial ticket Income. commerdal adv8rbslng and Services income. Durlng 2023 the f88lNal benefite¢J from a National Lottery Heritage FutKI grant enabled festival a¢tivitses 8nd 8 tralneè programme for young adults ofdivèrsè global heritage. The fe811val contlnues to attract audknco numbers over 30.000 across live events, exhit1tms. broadcast and dvJital events. New partnerspS wth eStional InstitionS are 8UPPOrting the scope of the fests'val to offer theatre and music perfomianc• spargs and to erle a more structured approach to our emgrolng talgnl $ch8mgs. Page 2
BLOOMSBURY FESTNAL TRUSTEES. REPORT {CONTINUEDI FOR ThE YEAR ENDED 31 DECEMBER 2023 Flnanclal revlew a. Going concern After making appropriate enquiries. the Trust•ès have a reasonablg 8XPgCtafi(Jn Ihat Iha charfty has ad8quat• re80urces to continue in cperauonal exlsten¢& for tho foreseeable fvture. For this reason. th8y conllnue to adopt the golrvJ concem basls In prop¥ring the finarK4al statsrnents. Further delalls regardlrwJ the adoption of tho going ncem b8ds can b& found in the accounting policies. b. R•s•Th•s pollcy Reserves at the end of 2023 1$ 81 th910Vo1 of £18,654. The organlsalon has only one part-lirne employee on PAYE with the remainder of séwvicg$ pfovKled by contracted staff, and with in4(ind sUPWt for office space the organisation. Wlth minimal ongoing finanaal obligations. and the reserves vnuld cover 3 months of freelance and office costs should the need arise. structur•y govgrnan¢o and manag•rnont Constltutlon Bloomsbury Festival Is regl8tered a8 8 charit8ble company limited by guarantee and was set up by Memorandum of As50cialion. Pl•thods of appointm•nt or eloction of Trustees The management of the ¢harfty 18 the responsibility of the Trustees who are elected and ¢¢pted under the lemis of tho Memorandum ofA6soclation. Page 3
BLOOMSBURY FESTIVAL TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 statsment of Trustoe6' r•sponsiblllllo8 The Truststrs Iwho are also the dlr$clors of the tharity for the wrposes of comparby lawl are responsible for preparing the Trustees. report and the financial slatemgnts in acix)rd8nce with Pitable law and United lfjThJdom Accounting Standards (United KiThJdom Generally Accepted Accounfjng Pr8dic41. Company law iequires the Trustees to prepare financial statements for e8ch finanrial . Undar company law. the Trustees must not approve the flnanclal statements unless they are satisfied that they 96ve a true and falr view of the state of affairs of the charity and of its incoming $Our¢0$ and appllcatlon of resources, including its incom• and expenditure. lor that pariod. In pr•paring thès$ financial statements. the Trustees are requwed lo: seleet suttabla accounting poliaès and then apply th8m eonslstendy., observe the methods and principles of the Charfties SORP {FRS 102).. make judgments and accounting estimates that a reaSonae and prudent slate whether applicable UK Accounting Standards IFRS 1021 have been folbwèd, sublo¢t to any material dèpartures disclosed and explained in the financAal statements- prepare the fjnancial statements on the going concem basis unle$$ it ts Inapproprlate lo psUMe that the ch8rily will continue in business. The Trustees are responsible for keeping adequate accounting records that are Sufficignt to show and explain the charitys transactions and disclose with reaSOnae accuracy at any time the finan(aal position of th& charity and enable them to ensuie that the financtal statemènts comply the Cornpanies Act 2006. They are 8150 responsible for safeguardiNJ the ossets of Iha ehorty and h&nca for taking reasonable steps for the prevention and detection of fraud and olhgr irr8gu1ar1tl. Approved by order ofth• m•mb•rs of th• board of Trustees and 51gn8d on their Lhalf by. Maurlco Blrlttl Chair Dats: Page 4
BLOOMS8URY F&8TIVAL INDEPENDENT EXAMINER'S REPORT FOR ThE YEAR ENDEO 31 DECEMBER 20ZJ Indep•nd•nt Exarnln•rfs R•port to th• Trust••s of Bloomsbury F•stl¥al (Xhe charfty,) We report to the iarity TrustO8s on our examinalicffl of Iha accounts of the tharity for tho •nd8d 31 December 2023. R•#pon•ibilitl and Basis of R•port As th8 Trnst88s of Ihe thaity land ts directors for the purpse$ of company lawl you arè rèskN)nsI8 for the prep8r8tion of the acUnts In acwdance with Ihe requirernents of the Companles Act 2006 (Ihe 21)06 Arti. Having satis)led Ou1Vè$ that the accounts of th8 tharity are not requirèd to ba audltèd undèr Part 16 of the 2006 Act 8nd are 81igibla for independent exarnln8on, we report in resp8Ct of our examination of th8 ch8rtys acixjunts carrled out under 58ction 145 of the Charities Act 2011 Ilhe 2011 Art}. In Carng out our examination * have fdlowed the DirectKJns gNen bythe Chartty CommL8sk)n und8r se¢"on 145151(bl ofthe 2011 Ac Independent Examln•Vs Slat•m•nl We have completed our examlnatk)n. Wo ¢onfifm that no maltets hv• ¢om¢ to our olt&nllon In eonn•don wth the examination gin9 us ¢ause lo be$Ve.. aUnting records wgra not képt in rosport of the tharity as required by ¥gcti¢)n 386 ofth• 2fy)6 Art or the a¢{unts do not accord wtth those records.. or Ihg accounts do not comply wlth the accounting requlremant8 of sectlon 396 of tho 2006 Act other Ihan any rU&rMent that the accounts giv• a Yru8 and faSrf whkh b not a matter consid8rad as part of an irKlgpendgnl examination.. or the accounts h8v& not been prepared in aOrdanCe the methods Bnd prinaples of the Statement of RaClmOnded Practice for accounting and reporbng by chgrili051opplible to ¢hwili&s preparfng thelr accounts In accordance with the Finana81 Rèportfjng St8ndard app11ble In the UK and RUbliC of Ireland IFRS 10211. We have no concems and have ¢omg a¢$$ no 0th0r matters in Comsction 7•rith tho ox8mlnatbn to whld) attention shoutd bo drawn In th1$ rewt in order to enable a proper understanding of the acojunts to bo rgached. TINS report L£ made solely to the chaiws Trte65, As a body. in aGrdance wfflh Part 4 of the Chaiibes (Accounts and Reports} Regulations 2008. Our work has been undertaken so that we mlght state to the charltys TSte thosè matters we are requirwj to statè to tham in an Ind$pndent examinevs r&port and for no othèr purpos&. To the bjllesl extant pennrtied by law. we do not accept or assume reSp)nsIblty to anyone other than the djarity and the charitys TJuste98 a8 a body. ft)r our work or for thls reporL Slgned- Dated.. 23.0gz4 Xeinadln London Umltgd 8th Floor. B6¢kot Hou¥e, 36 Old Jw•Ky. London EC2R 8DD Pag8 5
BLOOMSBURY FESTIV STATEMENT OF FINANCIAL ACTIWTIES IINCORPORATING INCOME AND EXPENDITURE ACCOUNTJ FOR THE YEPR ENDED 31 DECEMBER 2023 Unr•strfct•d fundg 2023 Totsl funds 2022 funds 2033 IrKom• from: Donati(8. Legac and Grants Fe8lNal fund-raislng 174A20 174,420 45.663 204.466 49,818 Total inrfxng 220,083 220.083 254,284 Exwiditure on: Choritablg aclivrfO&s 231,702 231.702 249,827 Total w)mdlluro 231,702 231.702 249,827 Not movom•nt In funds 111,019} 111,619) 4.457 R•eon¢lllation of funds: Total fvnd9 Ixought foNard Nel movemgnt In funds 30,2T3 (11,6191 30.273 111.619) 25,816 4,457 T¢)tal fund• carrled fonvard 18.654 18.654 30,273 The on pages 8 to 16 form part of these fknanclal statements. Page 6
BLOOMSBURY FESTIVAL REGISTEREO NUMBER: 07977987 BALANCE SHEEr AT 31 DECEMBER 2023 2023 2022 Flxed assets Cumnt a*sets Debtors Ca$h at bonk and In hand 10,842 14324 32.487 5.671 25.166 38.158 Credltor5'. amwnts falllng due wlthln one year 10 16.512) (7.885) Not current assets 1B,654 30.273 Total ass•ts l•ss currnnt Ilabllltlès 18.054 30.273 T¢)tal n•t as$•ts 18.654 30.273 CharityfundB Unrestricted fun(Js 12 18.654 30.273 Total fund¥ 18.054 30.273 The charity was enOt18d to Mpln from audf( under section 477 ofthe Companie8 Act 2006. Th$ mwnbers have not requlred the company to obtaln an oudtt for Ihg yoar In qu8glon In 4rdan¢9 with $$ction 476 of Companies Act 2006. The Trustees acknowledge their responsibditses for Complng vAth the requlrements of th8 Act wlh respect to B¢xountlng rècords and preparation offinancial statèments. The finanal statement5 have b88n pr8p8rgd in $¢¢ordarKe wth the provisions ap1¢able to entiti95 subjg¢t lo the small companles reglme. Th8 finand81 statements were approved and aLthorfs8d for I$$uo by th• Trustw$ and $lgnod on Ihalr bahalf by. Mauricemiriottl Chalr Dats.. Pag¢ 7
BLOOIISBURY FESTIVAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 G•n•ral Infomi•tlo The charfty Is a company lim1 by guoront88 reglstered In Ennd. The m8mber3 of the company are the Trustees named on pagg 1. The rggtsterod offk¢ addr i$ 8th Floor B8Gket House, 36 Old Jewry. LcThJon. EC2R BDD. Accountlng pollchs 1.1 B•$is of preparation of flnandal statoments The financigl statements have been ppared In 8¢cord8nce W¢h the ChaAlles SORP IFRS 102} - Accounting and Repgrting by Charitses.. Ststsment of Recomrnended Practico applibIg to tharibes prepariTrJ th8ir 8c¢ounls In accordance with the Finanal Reporting Standard applicat in the UK and Ropubll¢ of Ireland IFRS 1021 (effective 1 January 20191. the Finanual Reporting Standard appii¢ablg in the UK and Rewblic of Ir8Land IFRS 1021 and th• Companies Act 20Cé. BlTh)msbury Festival meets th& definition of 8 publ1¢ bsnfft ¥nt6ty urKlgr FRS 102. Assots ond li8bililies are initially recognls8d at hlstorlcd cost or transaction ¥aa unlèss othètVJiSa statsd in thè relevant accnIng polley. 12 Incom• All ir¢$ is rgo)3nised onca t charlty has gntillomgnt to th$ in¢omo. it bs pffjbab that th$ incom wll be received and the amounl of Incom& roc&fvable can be mea8ur8d rdlabty. Grants 8ra indud8d in the Statement of financAal aCbvI on a r8c&Nablo basis. Thè balan of Ineom& r8C8Ned for specffic purposes but not expended dudng the peAcd Is shown In the relevant funds on the Balance she8t. Wh&ro In¢om¢ is reived in advance of entiuement of receipt, ils recogn'on is defefred ond Induded In ¢rodllor8 a8 deferred income. Where entiuèment 0¢[# before incomg is rg¢glv¢d, the Income 18 accrued. 1.3 Exppndlture Expenditure 18 r8eogrusèd once there is a legal OT construthe obligation to transfer ec4Jnomic benefit to a thlrd paty. li 18 probable that 8 transfer of economic beneffls wlll be reqUId In setuement and the amount of the obligation can b8 me8surgd rnllabty. Support costs ara those sts Incurred dlrectty In support of expenditure on the objects of the thority and Indude proied management carrfed tyjt at Hèadquartws. Charitabl8 acllvlues and GOrnanCe are (Thts InDThd on the chaW3 operdllons, Includlng support costs and costs relating to the govemance of the charlty apporuoned to charStabJo acUvlt18S. 1.4 Dgbtors Trade and oth&r d8blors •r6 recognts&J at the settlement amount after any tr discount offered. PrepayThents are valued al the amount prepald net of any tr8de dl8counts d. 1A Cash at bank and In hand Cash al bank and in hand Indudos c¥sh 8nd shOrte hpjhly l*]uid inve81rnents with a short matuiity ofthre8 month$ or18$$ frcffn th8 dale of acqUIsOn or OFening of th8 deF1 or8imilar accLJunt. Page 8
BLOOMSBURY FESTIVAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollcles {contlnuedl 1.6 Liabiliti0$ 4nd provi$IoDs LlablllUes are recognised when there is an obllgatlw 8t the Balance sheet dats a5 a re5uIi of a past event, il is probat4e that a transfer of economic bènèfrt wll bè required in 88ttlement. and Ine amount of the settlement can be estimated reliably. 1.7 Financial instrumènts The charity only has financial assets and financial li8bllltl8s of a kind that qualfy 83 baslc financaal instruments. Basic financial instruments are inrtially rectrjnlsed at Iransactkjn value and subsequendy measured at their settlemenl value with the exceptlon of bank loan$ whith are subsequenily measured al amorbsed wst using the efféctivè intsrest m•thod. 1.8 Govwnm•nt grants Grants of a r&v8nua natur8 ar8 racognised in th8 Statement of finan(xal aclNrflos In th¢ same period s the r8lat8d 8xpgnditur8. 1.9 Pen$lons The charity operates a defined contribution pension scheme and the nsIOn charge represents the amounts pardblo byth8 charity to tho fund In resp8d of the year. 1.10 Fund accourrtlng General funds are unrestricted funds wlNch are available for u88 at the discr8tion of tha Trustees in fvrfheran¢g of thg ggnorgl objo¢fjvgs of the charity and which have not been designalad lor oth8r purposes. Incom• from Donatlons, L•gad8s and Grants Unrestrl¢t•d funds 2023 Total fund5 2023 Total fvnds 2022 Donalons Grants 4.470 169.950 4.470 169,950 2.301 202, 165 174,420 174,420 204,466 Page 9
BLOOMSBURY FESTNAL NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Incom• from f•stlval fundwrnlslng Unr•itrict•d funds 2023 Total funds 2023 lund$ 2022 Festival fund-ralslng 45,663 45.663 49.818 Anatysls of •xp•ndltur• on ¢harltsbl• a¢tMII•s Sufftmary by fund type Unrestricted funds 2023 Total 2023 2022 Annual cultural fethal 231,702 231,702 249.827 Analysls of expendlture by actlvltles und&rtak•n dlrèctly 2023 Support coBt8 2023 Totsl funds 2023 Total fids 2022 Annual cultural fesllval 164,481 67,221 231,702 249,827 Page 10
BLOOMSBURY FESTIVAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Anatysls of •xp•ndiiur• by a¢tivrli•s {eontlnu•d) Anatysis of dir•ct Total funds 2023 fvnds 2022 Marketing and PR expendlture G$nor81 produdion costs Event Costs Digft81 costs staff costs {s88 nots 7) 32.982 51.816 44495 10.449 24n9 31,192 81.769 7,539 164.481 165.404 Page 11
BLOOMSBURY FESTIVAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEhlBER 2023 Analysls of •xp•ndltur• by actlvltl•g Icontlnu•d) Analys1$ of $upp•rt costs Total funds 2023 Total funds 2022 lThJep8ndgnt exgmln8tlDn fags Printing, postage a1 statknary Office costs Recrurtmenl Travel 8nd subslstsnce Trustse meatlngs Consultancy and fr•trlanrx> Ix>sts Legal, accountancy and prof8ssbJnal faès Insurance 2.250 152 1.088 762 1,798 650 4,164 657 70.945 1.486 237 475 56,735 1.306 IT and 80ftware c4)sts Bad dèbt expgn8e 2.783 761 1,726 67.221 84,423 Ind•pondont •xamlrwrf$ romunoratlon 2023 2022 Fees paya& ¢0 th$ ¢hariV3 independent exanNner forthe Independent examination of the charrws annual acLounts 1.750 1.750 Page 12
BLOOMSBURY FESTIVAL NOTES TO THE FINANCIAL STATEMEPffi8 FOR THE YEAR ENDED 31 DECEMBER 2023 Staff 2023 2022 Wages and salarfes Conthbution to defined contribution pènwn sch8m•s 24200 539 24,739 Th9 8v&w¢ numb¢r of wrson$ $mplo5wd by tha charfty during the yearwas as follows.. 2023- 1 12022- 11 No employ00 recefved remun8rallon amountirs to more than £60,000 in gither r. Durfng thg y&8r. no koy managgmgnl pgtsonnd. I91ved any remuneration or olh¢r bongffits12022- £nill. Trust••s' r•mun•ratlan and •xp•ns•s During tho ar, no Twstg9s rKgivgd any r¢mun•r4tion or othor b8noffts f2022- £NIL). During tha year endgd 31 Dgcemb8r 2023, no Trustee exp&n8&8 have bogn InGurr¢d (2022- £NILJ. D•btors 2023 2022 Othgr (Jebtor8 Pr¢payTh¢nts and accrued ino)me 5250 SYJ2 14,771 17,716 10.842 32,487 10. Croditors: Amwnts falling duo within y•ar 2023 2022 Trad8 credito Other taxaticffl and social srity A¢¢ruats and dèferred income 3,375 1.083 2,054 6.081 1.804 512 7.885 Pag8 13
BLOOMSBURY FESTIVAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 11. Flnanclal Instfumonts 2023 2022 Financial tyets FSnandal assets measu al falr valuo through Income and 6XpWNure 14324 5,677 Flnancial a88ets measured at fair value through incom8 and expenditure ¢ompr18e cash at bank and hand. Poge 14
BLOOMSBURY FESTIVAL . NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 12. statwnont of fundg Statement of funds- current year Balance at 31 D•c•mb•r 2023 Balance at 1 January 2023 Ineome Exp•ndlturo Unr•strlctsd funds General Funds- all funds 30,273 220,083 {231.702) 18,654 S*atsmenl of funds. prioryear Balanc& at 31 D8c8mb&r 2022 Balance at l January 2022 In¢oma Expendhu Unr•strlctsd funds General Funds- 811 fi5nds 25,816 254,284 (249,827) 30.273 11 Summwy Qffunds SuThnary offunds- current year Balan •t 31 O•c•mb•r 2023 B•l¥nco at 1 January 2023 Income Exptrndllur• General fund8 30273 220.083 1231,702 18,654 summary of funds- prfor ar 8alance at 31 Balance al l J8nuary 2022 Incomg Exp&nditure 2022 G8n8fdl funds 25,816 254.284 (249.827) 30,273 p15
BLOOMSBURY FESTNAL NOTES TO THE FINANCIAL STATEMENT8 FOR THE YEAR ENDED 31 DECEMBER 2023 14. Analysls of n•t ass•ts b•lwMn funds Analys1$ ol not a$s•ts b•tW•on fun(ts - ¢urr•nt yoar Unrestrleted fvnds 2023 Total funds 2023 Current assets 25.166 18.512) 25.166 16,5121 Credthrs due wlthln one yè8r Total 18,654 18.654 Analys18 of net a66ets between funds- prfor yoar Unrestricted lunds 2022 Total funds 2022 Currant assets 38. 158 .885J 38,158 IT,885) Creditors due within one year Total 30,273 30,273 1& Pension comrnikn•nts The Company operate8 a defined contsibutions pension scheme. The a55ets of the schemo ar8 hèld 8eparatsly from those of the Company in an independently admini8tered fijnd. The pension c031 charg represents o)nlributtons p8y8bl? by tho Company lo the lund and 8mountèd to £539 12022.. £NIII. Contribution5 tOtallg £105 {2022'. £Nill were payable to the fund al the balance sheel d8ts and ara Indjded in credIt. 16. Relatsd party tran8actlon¥ Th8 charity has not entered Into any related pgty tr8n88clk*n durfng the year. Th)r are Ihere any outstsndlng balan¢9s owlng belwe¢n rolatsd parties and tho charfty at 3100¢ombgr 2023. P4e 16