2024-06-30-accounts

Charity No.1153944 Registered Company Number: 06599041

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CAMBRIDGE LITERARY FESTIVAL LIMITED

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

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CAMBRIDGE LITERARY FESTIVAL LIMITED

CONTENTS

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	Page
Trustees’ report	1 - 3
Independent examiners’ report	4
Statement of financial activities	5
Balance sheet	6
Notes to the financial statements	7 - 14
Reference and administrative details	15

CAMBRIDGE LITERARY FESTIVAL LIMITED

TRUSTEES’ REPORT (INCORPORATING DIRECTORS’ REPORT)

FOR THE YEAR ENDED 30 JUNE 2024

The trustees present their annual report and financial statements of the charity for the year ended 30 June 2024.

Structure, governance and management

a. Constitution

The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 21 May 2008 and subsequently amended on 25 September 2013 when it became a registered charity, registered charity number 1153944.

b. Method of appointment or election of directors

The Board of trustees appoint new members of the Board either to fill a casual vacancy or by way of addition to the Board. Particular emphasis is placed upon the appointment of trustees with knowledge and experience relevant to the charity’s activities.

Board members are the trustees of the registered charity and comprise a maximum of twelve members who are elected by an ordinary resolution of the members of the charity. The Board may co-opt members who hold office until submitted for election at the next Annual General Meeting for a three-year term, subject to provisions in the Articles.

c. Organisational structure and decision making

Day to day administration of the charity is delegated to the management, under supervision of the Board of trustees. Decision making powers are retained by the Board and exercised at their regular meetings.

Risk management

The trustees have identified the major risks which may affect the charity and have taken reasonable steps to mitigate those risks.

Objectives and activities

The objects of the charity are the advancement of education for the benefit of the public by the promotion of literature, language and the arts in particular through literary festivals in Cambridge, and such other activities as the members of the management committee shall from time to time determine.

The trustees confirm that they have complied with the duty in section 17(5) of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission.

Achievements and performance

We staged two festivals this year, attracting names that continue to affirm CLF’s reputation as a leading literary festival.

We featured five one-off events, kicking off with Wes Streeting, followed by Sandra Newman, Anne Enright, Venki Ramakrishnan, Patrick Barkham, Colm Tóibín and Baillie Gifford prize-winner John Vaillant. A second free schools’ event in April this year brought secondary school students from Cambridgeshire and beyond to the Cambridge Union. Amelia Gentleman addressed a captivated audience of teenagers to consider the story of the Windrush scandal, and Michael Braithwaite told his moving story that took us from the cotton fields of Jamaica to recent times in London where he was informed by the Home Office that he could no longer work as a teaching assistant because of his background. Graphic artist Woodrow Phoenix brought the story to life through an interactive storytelling session.

Hundreds of children and families attended the Children’s Festival, for a carnival of events featuring among others Joseph Coelho, Clare Balding, Alex T Smith and Elmer, who graced the Cambridge Union stage to entertain a roomful of delighted children. We were pleased to offer a significant proportion of tickets for free to families from across the city and beyond.

The CLF Contribution to Children’s Reading Award was awarded to Joseph Coelho.

1

CAMBRIDGE LITERARY FESTIVAL LIMITED

TRUSTEES’ REPORT (continued)

FOR THE YEAR ENDED 30 JUNE 2024

We offered access for the intellectually curious to world-renowned Cambridge academics in the second year of the Cambridge Series: Neuroscientist Camilla Nord, Dean of King’s College, Stephen Cherry, Professor of Volcanology, Clive Oppenheimer, cultural historian Clair Wills, political theorist Professor David Runciman and historian Professor David Reynolds. Elif Shafak gave our second ever A Room of One’s Own Lecture; a limited-edition commemorative pamphlet was produced and distributed to ticket holders. Fiction and poetry featured strongly in our line-up. Margaret Drabble returned to Cambridge for a retrospective of her extraordinary career; Booker Prize winner Paul Lynch opened the Spring 24 festival with three-time Booker nominee Andrew O’Hagan in a double-bill. Leading writers of fiction included Naomi Alderman, Hisham Matar and Sebastian Faulks, while poets Jackie Kay, Lemn Sissay, George the Poet and TS Elliot Prize-winning Joelle Taylor saw packed audiences at their events. Debut writers Yomi Adegoke and Helen Crewe were given a platform at our Winter Festival, and debut novelists Holly Pester, Andrew McMillan and Sinéad Gleeson at our Spring Festival.

The Union Chamber was again packed for the New Statesman Debate: This house believes the Labour Party is not bold enough to fix Britain. The motion against won.

We sold out on the second State of the Nation Lecture with Provost of King’s College, Gillian Tett.

Events that had sold out were livestreamed to ensure that popular events remain available to all. We continued to add most events to CLF Player, to reach a global audience.

In partnership with the University Library, we hosted Murder by the Book with Nicola Upson & Andrew Taylor.

We continued our partnership with the New Statesman, hosting the New Statesman Podcast Live, Breakfast with the New Statesman Editors, and the New Statesman debate, and inviting New Statesman journalists to chair events.

Hospitality events were again hosted in the Ballroom of the University Arms Hotel: a Literary Lunch, Breakfast with the New Statesman Editors and an Aperitivo Hour.

We rekindled our relationship with the British Academy, featuring four British Academy fellows.

Financial review

a. Going concern

The trustees have continued to focus on the management of the finances and particularly management of cash flow. We have maintained healthy reserves and therefore the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the period to January 2026. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

2

CAMBRIDGE LITERARY FESTIVAL LIMITED TRUSTEES’ REPORT (continued)

FOR THE YEAR ENDED 30 JUNE 2024

b. Financial results

The financial results reflect the holding of two in-person festivals, sixteen live-streamed digital events and seven one-off events in the year. The charity's overall unrestricted excess of income over expenditure for the year was £49,528 (2023: £41,308) which, when aggregated with unrestricted reserves brought forward of £191,404 gives an unrestricted reserve to carry forward of £240,932.

The charity received no restricted income during the year. There were no restricted reserves brought forward.

c. Reserves Policy

The board considers that it should have a minimum of £200,000 of cash reserves to meet nine months of fixed operational costs. The actual free reserves are £232,313 (2023: £185,579).

The board wish to record their warm appreciation and thanks to:

Our longstanding and new sponsors, donors, patrons, benefactors, friends and partners, in particular, The Technology Partnership. We also warmly thank the Binks Trust, University Arms, Heffers, New Statesman, and Mills & Reeve who kindly provided meeting facilities whenever needed. Thanks also to all other event supporters and advertisers. We thank Baillie Gifford who supported the festival over many years and who announced their departure from support of literary festivals in June of this year.

We were sad to note that Daphne Astor died this year - she has been a longstanding and loyal supporter of the festival and will be much missed.

We welcomed Kate Kirk as a trustee during the year – she has been a regular member of the temporary festival staff team often acting as Head Steward at venues during the festival weekend she will continue to have a paid role during the festivals. After the year-end we were delighted to strengthen our board of trustees with new trustees – William Bowes and Renee Etienne. Tim Harvey-Samuel has also agreed to become a trustee and will be nominated for election at the AGM. In the meantime he has attended meetings of the trustees in a non-voting capacity.

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within section 415A of the Companies Act 2006 and was approved by the Board of Directors on 24 Feb 2025 and signed on its behalf by:

On behalf of the Board of Trustees

…………………………

Jeremy H M Newsum Jeremy Newsum (Tue, 25th Feb 2025 8:54:40 GMT) Date: 24 Feb 2025

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INDEPENDENT EXAMINERS’ REPORT TO THE MEMBERS OF CAMBRIDGE LITERARY FESTIVAL LIMITED

FOR THE YEAR ENDED 30 JUNE 2024

I report to the charity trustees on my examination of the accounts of the company for the year ended 30 June 2024 which are set out on pages 5 to 15.

Responsibilities and basis of report

As the charity trustees of the company (and also 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 myself that the accounts of the company 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 company’s accounts as carried out 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 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the company 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)).

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.

Sf

Suzanne Goldsmith FCA

For and behalf of Price Bailey LLP Tennyson House Cambridge Business Park Cambridge CB4 0WZ

Date: 25 February 2025

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CAMBRIDGE LITERARY FESTIVAL LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 30 JUNE 2024

		2024	2023
		Total	Total
	Note	Unrestricted	Unrestricted
		£	£
INCOME
Donations and legacies		134,949	112,099
Charitable activities	2	317,145	303,004
Investment income	3	2,593	846
		───────	───────
Total		454,687	415,949
		───────	───────
EXPENDITURE
Raising funds	4	46,954	39,487
Charitable activities	4	358,205	335,154
		───────	───────
Total		405,159	374,641
		───────	───────
NET INCOME		49,528	41,308
RECONCILIATION OF FUNDS
Total funds brought forward		191,404	150,096
		───────	───────
TOTAL FUNDS CARRIED
FORWARD		240,932	191,404
		═══════	═══════

All amounts relate to continuing activities of the company.

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes to the accounts are shown on pages 7 to 15.

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CAMBRIDGE LITERARY FESTIVAL LIMITED

CHARITY REGISTRATION NUMBER: 1153944 COMPANY NUMBER: 06599041

BALANCE SHEET AS AT 30 JUNE 2024

		2024	2023
	Note	Total	Total
		£	£
FIXED ASSETS
Tangible assets	10	8,619	5,825
CURRENT ASSETS
Debtors	11	14,854	11,770
Cash at bank and in hand		226,986	187,747
		───────	───────
Total		241,840	199,517
		───────	───────
CREDITORS
Amounts failing due within one year	12	9,527	13,938
		───────	───────
NET CURRENT ASSETS		232,313	185,579
		───────	───────
TOTAL ASSETS LESS CURRENT
LIABILITIES		240,932	191,404
		───────	───────
NET ASSETS		240,932	191,404
		═══════	═══════
FUNDS
Unrestricted funds	14	231,932	182,404
Designated funds	14	9,000	9,000
		───────	───────
TOTAL FUNDS		240,932	191,404
		═══════	═══════

These financial statements have been prepared in accordance with the provisions available to companies subject to the small company’s regime.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 (“the Act”). The directors acknowledge their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

The financial statements were approved by the Board of Trustees on and signed on their 24 Feb 2025 behalf by:

…………………………………………………..

Jeremy H M Newsum Jeremy Newsum (Tue, 25th Feb 2025 8:54:40 GMT)

The notes to the accounts are shown on pages 7 to 15.

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CAMBRIDGE LITERARY FESTIVAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

1 ACCOUNTING POLICIES

(a) General information

The charity is a private company limited by guarantee, incorporated and registered in England and Wales and a registered charity in England and Wales. The company and charity number are shown on the reference and admin section of these financial statements. The address of the registered office is 22 Station Road, Cambridge, England, CB1 2JD.

(b) Statement of compliance

These financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing the their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) – (Charities SORP 2019 (FRS 102) and the Companies Act 2006. The financial statements are prepared on a going concern basis.

The company meets the definition of a public benefit entity under FRS 102.

(c) Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity and rounded to the nearest £.

(d) Going concern

The trustees have continued to focus on the management of the finances and particularly management of cash flow. We have maintained healthy reserves and therefore the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for at least 12 months from the date of approval of these financial statements. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

(e) Judgements and key sources of estimation or uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are no estimates which might materially affect the results reported in these financial statements.

(f) Taxation

The company is considered to pass the tests set out in Paragraph 1 Schedule 6 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 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.

(g) Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

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CAMBRIDGE LITERARY FESTIVAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

1 ACCOUNTING POLICIES (continued)

(h) Income

All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

• income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

• income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. No amounts are included for the contribution of general volunteers.

• income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

• membership subscriptions which gives a member the right to buy services or other benefits are recognised as they are received.

• Legacies are included in the Statement of Financial Activities when the Charity becomes aware of its entitlement to the gift and the amount involved can be quantified.

(i)

Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

• expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.

• expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

(j) Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

(k) Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings - 33% straight line Equipment - 25% straight line

(l) 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.

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CAMBRIDGE LITERARY FESTIVAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

1 ACCOUNTING POLICIES (continued)

(m) Cash at bank and in hand

Cash at bank and cash 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.

(n) Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

(o) 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. Fixed assets are recorded at depreciated historical cost.

(p) Operating leases

Operating leases are recognised over the period of which the lease falls due.

(q) Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

(r)

Limited by guarantee

The company is a company limited by guarantee. Not all members of the company are Directors. A register of members is kept at the registered office. The number of members in the year ended 30 June 2024 was 5 (2023: 11). In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.

2 INCOME FROM CHARITABLE ACTIVITIES

2	INCOME FROM CHARITABLE ACTIVITIES
		2024	2023
		£	£
	Ticket sales and similar income	245,690	240,214
	Supporters schemes and donations	35,615	30,590
	Sponsorship and advertising	35,840	32,200
		───────	───────
		317,145	303,004
		═══════	═══════
3	INVESTMENT INCOME
		2024	2023
		£	£
	Bank interest received	2,593	846
		───────	───────
		2,593	846
		═══════	═══════

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CAMBRIDGE LITERARY FESTIVAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

4a.	ANALYSIS OF EXPENDITURE – CURRENT YEAR
		Direct	Support
		costs	costs	Total
		2024	2024	2024
		£	£	£
			(note 5)
	Fundraising and managing membership scheme and	38,415	8,539	46,954
	Corporate partners
	Charitable activities:
	Literary festivals and one off events	309,255	48,950	358,205
		_	_	__
		347,670	57,489	405,159
		═══════	═══════	═══════
4b.	ANALYSIS OF EXPENDITURE – PRIOR YEAR
		Direct	Support
		costs	costs	Total
		2023	2023	2023
		£	£	£
			(note 5)
	Fundraising and managing membership scheme and	33,227	6,260	39,487
	Corporate partners
	Charitable activities:
	Literary festivals and one off events	301,388	33,766	335,154
		_	_	__
		334,615	40,026	374,641
		═══════	═══════	═══════
	All expenditure related to unrestricted funds in both years.
5	ANALYSIS OF SUPPORT COSTS
			2024	2023
			£	£
	Staff costs		19,866	18,633
	Office, premises and IT		30,012	16,562
	Governance costs (note 6)		4,455	3,853
	Travel and subsistence		128	98
	Other costs		626	469
	Depreciation		2,402	411
			───────	───────
			57,489	40,026
			═══════	═══════

Support costs are allocated based upon the percentage of time spent on activites

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CAMBRIDGE LITERARY FESTIVAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

6 ANALYSIS OF GOVERNANCE COSTS

ANALYSIS OF GOVERNANCE COSTS
	2024	2023
	£	£
Independent examination fees	2,400	2,273
Assurance services other than independent examination	1,624	1,250
Legal and professional	35	35
Trustee meeting costs	396	295
	───────	───────
	4,455	3,853
	═══════	═══════

7 STAFF COSTS

The total staff costs and employee benefits for the reporting period are analysed as follows:

	2024	2023
	£	£
Wages and salaries	164,925	158,250
Social security costs	9,001	9,318
Employer contributions to pension plans	24,735	18,765
	───────	───────
	198,661	186,333
	═══════	═══════

8 AVERAGE NUMBER OF EMPLOYEES

The average head count of employees during the year was 5 (2023: 5).

No employee received benefits of more than £60,000 during the year (2023: none).

Total remuneration for the year (including social security and pension costs) of the key management team comprising of one individual who is the Festival Director was £73,926 (2023: £77,057).

9 TRUSTEE REMUNERATION AND EXPENSES

During the year, no Trustees received any remuneration or other benefits, or were reimbursed any expenses (2023: £Nil).

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CAMBRIDGE LITERARY FESTIVAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

10 TANGIBLE FIXED ASSETS

10	TANGIBLE FIXED ASSETS
		Fixtures and
		fittings	Equipment	Totals
		£	£	£
	COST
	At 1 July 2023	6,326	19,934	26,260
	Additions	-	5,196	5,196
		────────	────────	────────
	At 30 June 2024	6,326	25,130	31,456
		────────	────────	────────
	DEPRECIATION
	At 1 July 2023	3,220	17,215	20,435
	Charge for year	1,025	1,377	2,402
		────────	────────	────────
	At 30 June 2024	4,245	18,592	22,837
		────────	────────	────────
	NET BOOK VALUE
	At 30 June 2024	2,081	6,538	8,619
		════════	════════	════════
	At 30 June 2023	3,106	2,719	5,825
		════════	════════	════════
11	DEBTORS
			2024	2023
			£	£
	Trade debtors		5,000	5,000
	Other debtors		5,346	4,140
	Prepayments		4,508	2,630
			────────	────────
			14,854	11,770
			════════	════════
12	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
			2024	2023
			£	£
	Trade creditors		2,912	5,365
	Social security and other taxes		-	1,951
	Accruals		3,600	3,480
	Other creditors		3,015	174
	Deferred income		-	2,968
			────────	────────
			9,527	13,938
			════════	════════

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CAMBRIDGE LITERARY FESTIVAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

13 DEFERRED INCOME

13 DEFERRED INCOME
	2024	2023
	£	£
At 1 July 2023	2,968	10,000
Amount released to income	(2,968)	(10,000)
Amount deferred in year	-	2,968
	────────	────────
At 30 June 2024	-	2,968
Deferred income relates to festivals which take place post year end.	════════	═══════

14 RESERVES

2024 Unrestricted funds Designated funds Total funds	As at 1 July 2023 182,404 9,000 191,404	Income 449,687 - 449,687	Expenditure (400,159) - (400,159)	Transfers between funds - - -	As at 30 June 2024 231,932 9,000
					240,932

Designated Funds

The designated fund arose from legacy income which will be used at the discretion of the trustees for specific projects in support of the Cambridge Literary Festival's charitable objectives.

Prior year comparative

2023 Unrestricted funds Designated funds Total funds	As at 1 July 2022 150,096 - 150,096	Income 415,949 - 415,949	Expenditure (374,641) - (374,641)	Transfers between funds (9,000) 9,000 -	As at 30 June 2023 182,404 9,000
					191,404

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CAMBRIDGE LITERARY FESTIVAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

15 PENSIONS AND OTHER POST RETIREMENT BENEFITS

Defined contribution plans

The amount recognised in income and expenditure as an expense in relation to defined contribution plans were £24,735 (2023: £18,765). The amount outstanding at the year end was £190 (2023: £174) and is included in creditors.

16 OPERATING LEASE COMMITMENTS

As at 30 June 2024 the Trust had future minimum lease payments under non-cancellable operating leases as follows:

Land and Buildings

Land and Buildings
	2024	2023
	£	£
Under 1 year	13,800	13,800
Between 2 and 5 years	-	13,800
	───────	───────
	13,800	27,600
	═══════	═══════

The amount recognised as an operating lease expense during the year was £16,560 (2023: £nil).

17 Related Parties

The total amount of donations received without conditions from trustees total £nil (2023: £600).

One of the trustees of the Festival is also a Trustee of Binks Trust which made a donation of £20,000 (2023: £20,000) to the festival during the year.

A former trustee who resigned on 21/06/2023 was Managing Director of TTP plc which supports the festival with donations of £30,000 in the year (2023: £35,000).

There are no other related party transactions to note (2023: none).

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CAMBRIDGE LITERARY FESTIVAL LIMITED

REFERENCE AND ADMINISTRATIVE DETAILS

CHARITY REGISTRATION NUMBER

1153944

COMPANY REGISTARATION NUMBER

06599041

TRUSTEES

Jane Reid (known as Sian Reid) Julia Collins Karen Duffy Jeremy Newsum Henry Elliot Anna Lawlor Eleanor Birne Katherine Kirk (appointed 27 February 2024) William Bowes (appointed 18 June 2024) Reneé Etienne (appointed 18 June 2024)

COMPANY SECRETARY

Miranda Smith

REGISTERED OFFICE

22 Station Road Cambridge CB1 2JD

INDEPENDENT EXAMINERS

Price Bailey LLP Tennyson House Cambridge Business Park Cambridge CB4 0WZ

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