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← Bristol Jazz And Blues Festival

2024-05-31-accounts

Company number: 08186988 (England & Wales) Registered Charity Number: 1149781

Bristol Jazz Festival Ltd (formerly Bristol Jazz and Blues Festival) (Private company limited by guarantee without share capital)

Report of the Trustees and Unaudited Financial Statements

For the year ended 31 May 2024

BRISTOL JAZZ AND BLUES FESTIVAL LTD (FORMERLY BRISTOL JAZZ AND BLUES FESTIVAL) CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

Page
Report of the Trustees 2 to 4
Independent Examiner’s Report 5
Statement of Financial Activities 6
Balance sheet 7
Cashflow Statement 8
Notes to the Financial Statements 9 to 12

Bristol Jazz Festival Ltd (formerly Bristol Jazz and Blues Festival) (Private company limited by guarantee without share capital and registered as a charity)

Reference and administrative details Full name of the charity: Bristol Jazz Festival Ltd (formerly Bristol Jazz and Blues Festival)

Company registration number 08186988 (England & Wales)

Registered charity number 1149781 Registered office of the charity 77 High Street Worle Weston-Super-Mare England BS22 6ET

Trustees N J Evans (appointed 7 August 2022) N Cox (appointed 8 August 2022) Charlotte Crofton-Sleigh (appointed 4 April 2025)

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Bristol Jazz Festival Ltd (formerly Bristol Jazz and Blues Festival) Report of the Trustees For the year ended 31 May 2024

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 Festival (BJF) 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 two positions: the Festival Producer/ Director and Technical Manager. The Board of Trustees, Festival Advisory Board and the management team provide 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 Jazz Festival works closely with relevant national and regional arts communities, charitable and business organisations, to secure funding, develop partnerships and – encourage effective collaborative working. During the year 2023 2024, the charity benefited from support from Arts Council England and two donations from an individual and a charitable foundation. This support enabled Bristol Jazz Festival to continue its work and increase the active involvement in music by people from Bristol and the surrounding area, support up and coming and established musicians and contribute to the cultural life of Bristol and the surrounding area.

The key risks facing the organisation continue to be:

  1. Reduction in revenue as the festival adapts to the post-COVID environment.

  2. The relocation of the main Festival to the Tobacco Factory and Tobacco Factory Theatres.

  3. Lack of financial surplus to provide a safety net for BJF activities.

  4. Reduced capacity of the management team as costs are cut.

  5. Changes in project Arts Council England funding criteria.

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Bristol Jazz Festival Ltd (formerly Bristol Jazz and Blues Festival) Report of the Trustees (continued) For the year ended 31 May 2024

Procedures to manage risks:

  1. Introduction of alternative, flexible and contingency plans at an early stage of annual planning.

  2. Amalgamate the role of Festival Producer and Artistic Director. Reduce fees paid to management team.

  3. Increase the use of volunteers and cease using third-party companies for marketing and advertising.

  4. Continue to apply for grants and awards to support the work of the Festival and increase the volume of educational and community activities.

  5. Increase the number of Trustees and Advisory Board members to include people with specific skills, such as finance and marketing.

  6. Maximise income from membership scheme.

  7. Identify additional ways of income generation, such as charging for live streaming.

  8. 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 twelfth year of operation. Its funding policy to achieve these objectives is, over the next five years to eliminate its deficit and create a reserve fund that will improve the financial health of BJF.

The ambitions for its 12th year of operations were set out as follows:

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. 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.

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.

d) Continue to include a series of educational masterclasses and workshops for both school and postgraduate students as part of the Festival format.

e) To develop the educational element of the Festival by working with local higher and further education institutions, academy trusts and the Bristol Music Trust to encourage involvement, engagement and participation in music by young people.

f) To raise the necessary funds to achieve these objectives through fundraising from grants and foundations whose criteria support these objectives.

g) To develop a more successful appeal for commercial sponsorship.

h) To develop a more supportive membership scheme that would reflect both its city based and regional audiences.

i) continue to offer work experience and volunteer opportunities to local young people and other members of the local community.

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.

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Bristol Jazz Festival Ltd (formerly Bristol Jazz and Blues Festival) Report of the Trustees (continued) For the year ended 31 May 2024

Achievement and Performance

In reviewing the results of the Charity's activities during the 2023-2024 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. Changes introduced in 2023 such as, the redesigning of the website and introduction of a tiered membership scheme to generate revenue and increase marketing opportunities continues to keep members and potential audiences engaged. Activities planned for operating year 202324 continue to be below the activity level pre-COVID and are unlikely to return to pre-COVID levels. In particular, the educational activities and the planned increase in sponsorship from local businesses have not been successful.

BJF produced an extremely successful, held at the Tobacco Factory and Tobacco Factory Theatres. The concerts were well-attended and the feedback from participants, musicians and the venues was highly positive. The event also included a series of workshops run by musicians appearing at the Festival as well as a free stage and after show jam sessions in the Tobacco Factory café bar, where participants were able to experience high-quality music in an informal environment.

Looking forward, the focus of the organisation will be to keep activities relevant to local, regional and national cultural aims and, as for as possible, complement Arts Council England’s strategic objectives.

The introduction of the BJB Advisory Board has been successful in bringing in new members with good knowledge, experience and skills, providing valuable support and guidance to the Trustees and operational team.

The charity was successful in obtaining an Arts Council England grant which enabled it to run a festival during March 2024

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.

Approved by order of the board of trustees on 16 May 2025 and signed on its behalf by:

Nigel Evans

Nigel Evans (May 16, 2025 13:58 GMT+1)

Nigel Evans Chair of Trustees

Bristol Jazz Festival Ltd (formerly Bristol Jazz and Blues Festival) Independent Examiner ’ s Report For the year ended 31 May 2024

BRISTOL JAZZ AND BLUES FESTIVAL LTD (FORMERLY BRISTOL JAZZ AND BLUES FESTIVAL)

STATEMENT OF FINANCIAL ACTIVITIES (Including Income and Expenditure Account)

FOR THE YEAR ENDED 31 MAY 2024

INCOME
Note
Income from charitable activities
2
TOTAL INCOME AND ENDOWMENTS
EXPENDITURE
Expenditure on charitable activities
3
TOTAL EXPENDITURE
NET INCOME/(EXPENDITURE)
Balances brought forward
Transfer between funds
Balances carried forward		 Unrestricted
Funds
£
77,189
77,189
86,754
86,754
(9,565)
(39,026)
-
(48,591)		 Restricted
Funds
£
19,050
19,050
-
-
19,050
-
-
19,050		 Total Funds
2024
£
96,239
96,239
86,754
86,754
9,485
(39,026)
-
(29,541)		 Total Funds
2023
£
34,660
34,660
34,838
34,838
(178)
(38,848)
-
(39,026)

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 9 to 12 form part of these financial statements

BRISTOL JAZZ AND BLUES FESTIVAL LTD (FORMERLY BRISTOL JAZZ AND BLUES FESTIVAL) BALANCE SHEET

AS AT 31 MAY 2024

Note
CURRENT ASSETS:
Debtors
Cash at bank and in hand
6


CURRENT LIABILITIES:
Creditors: falling due within one year
7
Net current assets/(Liabilities)
NON-CURRENT LIABILITIES
Creditors: falling due in greater than one
year
TOTAL NET LIABILITIES:
FUNDS
Restricted funds
Unrestricted funds
8
TOTAL FUNDS
2024
£
-
-
-
(8,474)
19,050
(48,591)		 (8,474)
(21,068)
(29,541)
(29,541)		 2023
£
14,530
-
14,530
(28,698)
(14,168)
(24,858)
(39,026)
-
(39026)
(39,026)

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for:

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 16 May 2025 and were signed on its behalf by:

N J Evans - Trustee

The notes on pages 9 to 12 form part of these financial statements

BRISTOL JAZZ AND BLUES FESTIVAL LTD (FORMERLY BRISTOL JAZZ AND BLUES FESTIVAL) CASHFLOW STATEMENT

FOR THE YEAR ENDED 31 MAY 2024

Cash flow statement for theyear ended 31st May 2024
2024 2023
GBP GBP
Cash Flow from operating activities
Net Income
Adjustments for:
Interest paid
(Profit) / loss on sale of fixed assets (net)
Operating profit before working capital changes
Adjustments for: (Δ Net Working Capital)
(Increase) / decrease in loans and receivables
Increase / (decrease) in other current liabilities
Increase / (decrease) in other current liabilities
Δ Net Working Capital (From 01.06.23 to 31.05.24)
Cash (used in)/generated from operating activities
Free Cash Flow (FCF) - (A+B)
9,485 (178)
676 -
-
-
10,160 (178)
14,530 -
24 (360)
14,554 (14,412)
24,714 (14,590)
24,714 (14,590)
C.
Cash flow from financing activities
Repayments of borrowing
Cash inflows from new borrowing
Receipt of endowment
Interest paid
Net cash (used in)/from financing activities
Net (decrease)/increase in cash and cash equivalents
(FCF + C)
Cash and cash equivalents at beginning of the year (Bank Balance + CIL)
Cash and cash equivalents at end of the year (Bank Balance + CIL)
-Cash in hand
-Bank balance
(4,466) (3,700)
-
-
-
-
(4,466) (3,700)
20,248 (18,290)
(23,587) (5,297)
(3,339) (23,587)
-
-
(3,339) (23,587)
Notes:
1
Cash flow statement has been prepared under the indirect method.
2
Cash and cash equivalents represent petty cash and bank balances.

BRISTOL JAZZ AND BLUES FESTIVAL LTD (FORMERLY BRISTOL JAZZ AND BLUES FESTIVAL) NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

1 ACCOUNTING POLICIES

Accounting convention

The financial statements of the charitable company, 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 Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)’. FRS 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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: - When the donors specify that the donations given to the charity must be used in future accounting periods.

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.

Short term liquid investments and cash

Cash at bank is held to meet short-term cash commitments as they fall due rather than for investment purposes and includes all cash equivalents held in the form of short-term highly liquid investments. Cash equivalents are short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments

The charity only has financial assets and 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.

-9 -

BRISTOL JAZZ AND BLUES FESTIVAL LTD (FORMERLY BRISTOL JAZZ AND BLUES FESTIVAL) NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

2 INCOME FROM CHARITABLE ACTIVITIES

Grant Income
Arts Council England
UWE - Grant Income
Other Income
Ticket Sales
Donations
Artists Fees Received
Artists and Festival Merch Income		 Unrestricted
Funds
£
-
2,300
59,901
8,746
-
6,242
77,189		 Restricted
Funds
£
19,050
-
-
-
-
-
19,050		 Total Funds
2024
£
19,050
2,300
59,901
8,746
-
6,242
96,239		 Total Funds
2023
£
-
-
1,242
28,868
4,550
-
34,660

3 DIRECT CHARITABLE EXPENDITURE

Programme Costs
Artist Fees
Venue Hire and Associated Fees
Advertising and Marketing
Design / Workshop Cost
Event Cost
Freelance Costs
Merchandise Cost
Performance Fees
Other Direct Cost
Support Costs
Accountancy Fees
Consultancy Fees
Printing and Office Stationery
Computer and Software
Legal and Professional Fees
Bank Interest Paid
Bank Charges
Loan interest paid
Miscellaneous expenses
Repairs & Maintenance
Governance Costs
Insurance		 Unrestricted
Funds
£
7,233
105
1,341
600
2,315
5,650
996
46,388
569
65,197
1,344
3,900
260
(526)
8
2,204
393
676
838
480
9,577
756
756
75,530		 Restricted

Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total Funds
2024
£
7,233
105
1,341
600
2,315
5,650
996
46,388
569
65,197
1,344
3,900
260
(526)
8
2,204
393
676
838
480
9,577
756
756
75,530		 Total Funds
2023
£
12,401
12,401
14,760
14,760
1,382
1,382
28,543

BRISTOL JAZZ AND BLUES FESTIVAL LTD (FORMERLY BRISTOL JAZZ AND BLUES FESTIVAL) NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

4 STAFF COSTS

Festival - Producer / Director Fees
 Unrestricted
Funds
£
11,224
11,224		 Restricted
Funds
£
-
-		 Total Funds
2024
£
11,224
**11,224 **		 Total Funds
2023
£
6,295
6,295

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 (2023: nil).

5 CORPORATION TAX

The company is considered to pass the tests set out in Sch. 6, para. 1 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Pt. 11, Ch. 3 of the Corporation Tax Act 2010 or s. 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

6 DEBTORS

Prepayments

Loan owed by C Gorrie

Other Debtors

2024
£
-
-
-
**- **


2023
£
13,927
478
125
14,530
7
CREDITORS: amounts falling due within one
year
Accruals
Bank overdraft
Bounce back loan		 2024
£
1,344
3,339
3,791
8,474		 2023
£
1,320
23,587
3,791
28,698

BRISTOL JAZZ AND BLUES FESTIVAL LTD (FORMERLY BRISTOL JAZZ AND BLUES FESTIVAL) NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

8 ANALYSIS OF CHARITABLE FUNDS

Analysis of
Fund movements
Restricted funds:
-Arts Council Fund
Unrestricted funds:
-General funds		 As at 01/06/2023
Income
Expenditure
Transfers As at 31/05/2024
£
£
£
£
£
-
19,050
-
-
19,050
(39,026)
77,189
86,754
-
(48,591)
(39,026)
96,239
86,754
-
(29,541)

9 RELATED PARTY TRANSACTIONS

During the year balances of £603 were expensed related to a prior Trustee Mr Colin Gorrie. Mr Gorrie has retired due to ill health and the amounts are not considered recoverable.

10 LEGAL STATUS

The charity is a private company limited by guarantee having no share capital, and in accordance with the Memorandum of Association, every member is liable to contribute £10 towards the costs of dissolution and liabilities incurred by the charity in the event of the company being wound up.

Bristol Jazz Festival Ltd YE' 31-05-24 (1)

Final Audit Report

2025-05-16

Created: 2025-05-16 By: Craig Williams (adobe@z-e-n.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAIPrQ_pkywaVA2-K4_qAniDf6ZhQ9_Kjo

"Bristol Jazz Festival Ltd YE' 31-05-24 (1)" History

2025-05-16 - 11:35:28 GMT

2025-05-16 - 11:36:55 GMT

@ Agreement completed.

2025-05-16 - 12:58:42 GMT