BRISTOL INTERNATIONAL JAZZ AND BLUES FESTIVAL
TRUSTEE’S FINANCIAL STATEMENTS YEAR ENDED 31 MAY 2022
Structure, Governance and Management
The company is governed by its memorandum and articles of association, which also dictate the procedures for the appointment of trustees. The details of the governing document are set out in the Memorandum and Articles of Association currently filed with Companies House and the Charity Commission. Bristol Jazz and Blues Festival (BJABF) is a company limited by guarantee (no. 08186988) incorporated on 21 August 2012 and registered as a charity on 15 November 2012 (no. 1149781).
Trustees are recruited according to the needs of the organisation, specifically bringing the skills, experience and expertise necessary to support the work of the organisation and hold the senior production team to account.
The procedures for trustee recruitment and induction is initiated with a complete file of the charity's governing documents and appropriate minutes of recent board meetings, followed by an invitation to attend the next appropriate board meeting as a guest.
The organisational structure of the charity consists of a board of three trustees and a senior management team of four positions: the Festival Producer, Assistant Producer, the Artistic Director and Technical Manager. The board of trustees and the management team provides the direction of the charity's work according to the registered objects. The management team present their decisions in carrying out this direction to the board of trustees for their approval.
Bristol’s International Jazz and Blues Festival works closely with relevant national and regional arts communities, charitable and business organisations, to secure funding, develop partnerships and encourage effective collaborative working.
The key risks facing the organisation continue to be:
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Reduction in revenue as the festival adjusts to the post-COVID environment.
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Use of multiple venues since closure of the Bristol Beacon, the Festival’s original home and partner.
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Lack of financial surplus to provide a safety net for BJABF activities.
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Reduced capacity of the management team as costs are cut.
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Changes in project Arts Council England funding criteria.
Procedures to manage risks:
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Introduction of alternative, flexible and contingency plans at an early stage of annual planning.
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Reduce fees paid to management team to the minimum.
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Improve planning and scheduling of fundraising concerts and activities.
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Continue to apply for grants and awards to support the work of the Festival and increase the volume of educational and community activities.
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Increase the number of trustees to include people with specific skills, such as finance and marketing.
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Maximise income from membership scheme.
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Identify additional ways of income generation, such as charging for live streaming.
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Increase the level of partnership, co-production, and collaborative work.
Objectives and Activities
The Charity’s objectives are to promote, improve, develop and maintain public appreciation of music in Jazz and similar genres in its ninth year of operation. Its funding policy to achieve these objectives is to eliminate its deficit and create a reserve fund that will improve the financial health over the year and the future cash flow of the organization.
The ambitions for its 10th year of operations were set out as follows:
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a) The presentation of high quality national, international and regional artist work in festival format in the city of Bristol catering to city audiences and those from the surrounding region.
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b) Include in this programme younger artists whose high quality interpretation of jazz and blues in their music would bring new audiences to the festival format and diversify its audience appeal.
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c) Presenting sections of the programme that would be available to the public free of charge to ensure that financial concerns did not exclude anyone.
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d) Continue to include a series of educational masterclasses and workshops for both school and postgraduate students as part of the Festival format.
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e) To revive the educational element of the Festival by working with local academy trusts and Bristol Music Trust to encourage involvement, engagement and participation in music by young people.
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f) To raise the necessary funds to achieve these objectives through fundraising from grants and foundations whose criteria support these objectives.
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g) To develop a more successful appeal for commercial sponsorship.
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h) Developing a more supportive membership scheme that would reflect both its city based and regional audiences.
The Trustees approved of these objectives and activities and confirmed that they had due regard for the Charity Commission Guidance on public benefit with these activities, and recognised that they established change in the Charity’s strategy. They expressed the need to ensure that these activities must match the financial resources raised.
In reviewing the results of the Charity’s activities during the 2021-22 operating year, trustees noted the continued high level of commitment from all members of the team who have worked tirelessly to find new ways to engage with the festival audience. In particular, the redesigning of the website and introduction of a tiered membership scheme to generate revenue and increase marketing opportunities was a positive and welcome development. Many of the activities planned for operating year 2021-22 were scaled back as the hospitality, leisure and creative industries are still recovering the impact of the COVID-19 pandemic. In particular, the educational activities and the planned increase in sponsorship from local businesses have not been successful.
The charity was successful in obtaining a Cultural Recovery Fund grant which enabled it to continue trading during 2021-22.
The Bounce Back loan of £35,000 through the Charity’s bank has enabled the organisation to continue and meet its financial obligations; however, until other forms income are established, including grants and sponsorship, the trustees remain concerned about the future of the charity. The loan term was increased to ten years while the income to BJABF is reduced and this loan term will be reviewed regularly.
Nigel Evans Chair of Trustees
BRISTOL JAZZ AND BLUES FESTIVAL INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES YEAR ENDED 31ST MAY 2022 I report to the charity trustees on my examination of the accounts of Bristol Jazz And Blues Festival for the year ended 31 st May 2022. Responsibility and basis of report As the charity's trustees are also rts directors for the purposes af company law, you are responsible for the preparation of the accounts in accordance with the Companies Act 2006 I'the 2006 Act'}. Having satisfied myself that the accounts of Bristol Jazz And Blues Festival are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried oul under section 145 of the Charities Act 2011 {'the 2011 Act'}. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145151{bl of the 2011 Act. Independent examlner's ststèm8nt I have completed my examination. I confirm Ihat no matters have come to my attention in connection wilh the examination giving me cause to believe.. Accounting records were not kept in respect of the company as required under section 386 of the 2006 Act.. or The accounts do not accord with those records., or The accounts do not comply wilh the accounting requirements under section 396 of the 2006 Act other than any requirèment thal the accounts give a true and fair view which is not a matter considered as part of my independenl examination.. or The accounts have not been prepared in accordance with the methods and principles of the Statement of Rècommend Practice for accounting and reporting by charilies applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). Attention is drawn to the fact that at 31 May 2022 the charity's funds were in deficit by £38,848. This presents a material uncertainty in relation to the Gharity s ability to Gonlinue as a going concern. Thè trustees reflect this worry in their report and are focused on obtaining further funding. In all other respects, I 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. David Baptiste ACPA Linden Accountants Limited Scrapstore House, 21 Sevier Street, St Werburghs, Bristol, BS2 9LB Date 31é W 20
BRISTOL JAZZ AND BLUES FESTIVAL
STATEMENT OF FINANCIAL ACTIVITIES (Including Income and Expenditure Account) YEAR ENDED 31 MAY 2022
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Unrestricted Restricted Total Funds Total Funds
Funds Funds 2022 2021
Note £ £ £ £
INCOME
Income from charitable actitivies 2 51,135 43,650 94,785 19,478
TOTAL INCOME AND ENDOWMENTS 51,135 43,650 94,785 19,478
EXPENDITURE
Expenditure on charitable activities 3 65,624 20,000 85,624 32,013
TOTAL EXPENDITURE 65,624 20,000 85,624 32,013
NET INCOME/(EXPENDITURE) (14,489) 23,650 9,161 (12,535)
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Balances brought forward (48,009) (48,009) (35,474)
Transfer between funds 22,650 (22,650) - -
Balances carried forward (39,848) 1,000 (38,848) (48,009)
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The charity has no recognised gains or losses other than the results for the year as set out above.
All of the activities of the charity are classed as continuing.
The notes on pages 13 to 16 form part of these financial statements
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BRISTOL JAZZ AND BLUES FESTIVAL
BALANCE SHEET
YEAR ENDED 31 MAY 2022
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2022 2021
Note £ £
CURRENT ASSETS:
Debtors and prepayments 6 478 2,097
Cash at bank and in hand - -
478 2,097
CURRENT LIABILITIES:
Creditors: falling due within one year 7 (6,977) (15,106)
Net current assets (6,499) (13,009)
Non-current liabilities (35,000)
- Bounceback loan (32,349)
TOTAL NET ASSETS: (38,848) (48,009)
Funds
Restricted funds 1,000 -
Unrestricted funds 8 (39,848) (48,009)
(38,848) (48,009)
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These financial statements were approved by the directors and authorised for issue on ……………………………… and are signed on their behalf by:
……………………………………………………….
Chair of Trustees
Charity Registration Number: 1149781
The notes on pages 13 to 16 form part of these financial statements
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BRISTOL JAZZ AND BLUES FESTIVAL NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MAY 2022
1 ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared under the historic cost convention. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (FRS 102 SORP) issued in July 2014, and applicable UK Accounting Standards and the Charities Act 2011.
Funds structure
Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include designated funds where the trustees, at their discretion, have set aside resources for a specific purpose.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor or the terms of a specific appeal.
Income
All income is recognised once the charity has entitlement to the resources, it is certain that the resources will be received and the monetary value of income can be measured with sufficient reliability.
Income from donations is included when these are receivable, except as follows:
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When the donors specify that the donations given to the charity must be used in future accounting periods.
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When donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred until the pre-conditions have been met.
Income from grants, where there are performance or service deliverables required by the terms of the grant, are accounted for as the charity earns the right to payment through its performance.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that agree all costs related to the category. Support costs have been allocated 100% towards the charitable activities of the charity.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both the direct pay and non-pay costs and support costs relating to those activities.
Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue its operations for the foreseeable future and therefore they have continued to adopt the going concern basis when preparing the financial statements.
Governance costs
Governance cost include those costs associated with meeting the constitutional and statutory requirements of the charity, and include its independent examination fees and costs linked to the strategic management of the charity including trustee expenses.
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BRISTOL JAZZ AND BLUES FESTIVAL NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2022
2 INCOME FROM CHARITABLE ACTIVITIES
| Grant Income Arts Council England West of England Combined Authority Other Income Ticket Sales Donations Artists Fees Received |
Unrestricted Funds £ 9,500 1,650 28,332 6,666 4,987 51,135 |
Restricted Funds £ 43,650 - - - - 43,650 |
Total Funds 2022 £ 53,150 1,650 28,332 6,666 4,987 94,785 |
Total Funds 2021 £ - - 19,126 352 - 19,478 |
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3 DIRECT CHARITABLE EXPENDITURE
Charitable Activities
| Programme Costs Artist Fees Artist Travel and Subsistence Venue Hire and Associated Fees Programme Staff Fees Technical Costs Streaming and Online Fees Advertising and Marketing Podcast Production Support Costs Accountancy Fees Consultancy Fees Administration fees Rent Printing and Office Stationery Computer and Software Professional Fees Bank Interest Paid Bank Charges Credit Card Charges Governance Costs Independent Examination Fee Insurance |
Unrestricted Funds £ 29,809 252 6,753 360 1,289 2,650 9,095 735 50,943 780 2,550 2,300 707 252 1,024 96 3,060 691 40 11,500 660 370 1,030 63,473 |
Restricted Funds £ - - - - - - - - - - - - - - - - - - - - - - - - |
Total Funds 2022 £ 29,809 252 6,753 360 1,289 2,650 9,095 735 50,943 780 2,550 2,300 707 252 1,024 96 3,060 691 40 11,500 660 370 1,030 63,473 |
Total Funds 2021 £ - 3,029 6,531 9,550 3,895 - - - 23,005 720 - - - 4,474 - 1,975 - 772 - 7,941 720 1,067 1,787 32,733 |
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BRISTOL JAZZ AND BLUES FESTIVAL NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2022
4 STAFF COSTS
| Production Team Fees Trustees Remuneration |
Unrestricted Funds £ 2,151 - 2,151 |
Restricted Funds £ 20,000 - 20,000 |
Total Funds 2,022 £ 22,151 - 22,151 |
Total Funds 2,021 £ - 2,719 2,719 |
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The key management personnel of the charity comprises of the trustees; there are no employed staff. Total remuneration received by the charity's key management personnel was £Nil (2021: £2,719).
5 CORPORATION TAX
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.
6 DEBTORS
| Prepayments Loan owed by C Gorrie CREDITORS: amounts falling due within one year Accruals Loan owed to C Gorrie Bank Overdraft |
2022 £ - 478 478 2022 £ 1,680 - 5,297 6,977 |
2021 £ 597 1,500 2,097 2021 £ 3,060 1,653 10,393 15,106 |
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7 CREDITORS: amounts falling due within one year
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BRISTOL JAZZ AND BLUES FESTIVAL
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2022
8 ANALYSIS OF CHARITABLE FUNDS
| Analysis of Fund movements Restricted funds: - CRF Grant Unrestricted funds: General funds |
Balance Income Expenditure Transfers Fund b/fwd c/fwd £ £ £ £ £ - 43,650 (20,000) (22,650) 1,000 (48,009) 51,135 (65,624) 22,650 (39,848) (48,009) 94,785 (85,624) 22,650 (38,848) |
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Transfer of restricted funds from Arts Council Culture Recovery Fund to support business.
9 RELATED PARTY TRANSACTIONS
Trustee and principal C Gorrie paid £6300 (2021: £Nil) for production and administration services; C Gorrie owed the charity £478.
Trustee C Gorrie family member, K Gorrie paid £8251 for artist and production fees.
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