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2022-12-31-accounts

Charity registration number 1156453

Company registration number 08365361 (England and Wales)

GREEN MAN TRUST LIMITED

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

GREEN MAN TRUST LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Ms F Stewart, Chair
Mr I Fielder, Treasurer
Ms N Hale, Trustee
Ms J Owen, Trustee
Secretary Ms J Rodrigues
Charity number 1156453
Company number 08365361
Registered office Old Bank House
Beaufort Street
CRICKHOWELL
Powys
NP8 1AD
Independent examiner Old Mill Accountancy Limited
Unit 2
Greenways Business Park
Bellinger Close
CHIPPENHAM
Wiltshire
England
SN15 1BN
Bankers CAF Bank Limited
25 Kings Hill Avenue
Kings Hill
WEST MAILING
Kent
ME19 4JQ
Solicitors Anthony Jayes LLP
68 Parkway
CAMDEN TOWN
London
NW1 7AH

GREEN MAN TRUST LIMITED

CONTENTS

Page
Trustees' report 1 - 12
Independent examiner's report 13
Statement of financial activities 14
Balance sheet 15
Notes to the financial statements 16 - 25

GREEN MAN TRUST LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 DECEMBER 2022

The trustees present their report and financial statements for the year ended 31 December 2022. The report also serves as a Directors' Report required under Section 491(2) of the Companies Act 2006.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Trust's governing document, the Companies Act 2006 and “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).

Objectives and activities

The principal object of the Green Man Trust is to further such charitable purposes for the public benefit that fall within the descriptions of charitable purposes set out in Section 3 of the Charities Act 2011 in particular but not limited to:

Charitable funds are raised for the Trust through grant applications to statutory organisations and to trusts and foundations. Grant funding comes with restrictions as well as strict monitoring guidelines and reporting structures that are met by the Trust. These guidelines will dictate the way in which funding is allocated. We ensure the aims and objectives of any grant funding are monitored and evaluated and reported on accordingly.

We also receive donations from individuals and private donations which support the core work of the Trust. Plantpot Ltd, Green Man’s parent company, donates generous resources (festival tickets, site fees and utilities, as well as production support and staff) to support and deliver our charitable programmes. This close relationship gives the Trust’s activities an excellent platform and the artists involved a significant showcase opportunity as well as giving them the chance to tap into large and varied audiences to widen the impact and legacy of the projects. Plantpot Ltd will also donate funds from time to time.

A proportion of the charity’s unrestricted funds is allocated to support local organisations and community groups. Decisions about the beneficiaries are made by the Board of Trustees and in accordance with the charity's aims.

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Trust should undertake. In setting the objectives and planning the activities, the Trustees have also given careful consideration to the Charity Commission’s general guidance on public benefit.

GREEN MAN TRUST LIMITED

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 DECEMBER 2022

Achievements and performance

Green Man is one of the most beloved festivals in the UK. One of only four independents in the UK, it is recognised for the quality of its programme (5* Guardian, Independent, Telegraph), rich and inclusive audience experience (6 Music Best UK Festival, Silver Charter by Attitude is Everything), commitment to gender equality (Women in Music) and environmental sustainability (Vision 2025). The festival ‘champions up-and-comers alongside its biggest stars’ (INews), ‘has always been good at representing shifting trends’ (The Times) and ‘has established a reputation for developing talent with significant influence internationally’ (Emma Banks, Music Agent & Co-Head London Office, Creative Artist Agency).

The ethos of creating opportunities has run right through the heart of Green Man since the very beginning - from supporting emerging artists and offering real-world training to people from all walks of life to inspiring society to understand and embrace science and bringing positive change to communities in Wales. Green Man Trust is the festival’s charitable arm and was born to give these opportunities a life of their own, extending the festival’s artistic, educational and social philanthropic ambitions.

The charitable objectives of the Green Man Trust are to:

Since 2014:

Activities funded by statutory bodies, trusts and foundations, and public donations

Celebrating 20 years in 2022, it was ‘a Green Man for the history books’ (4 The Times) and ‘a watershed moment for Welsh-language music’ (5 NME). The festival received rave reviews - ‘it remains one of the most inclusive festivals around‘ (5 Independent), ‘easily one of the UK's most beguiling’ (Mix Mag), and ‘there is the sense that no matter what lies beyond, while you are at Green Man festival, everything is briefly wonderful’ (5 Guardian). It was the true culmination of everything that Green Man represents - Welsh made and Welsh grown, ‘it champions localism, real ale, small artists (though there are big ones too) and a community spirit’ (The New Statesman) and an ‘all-inclusive spirit of embracing the unconventional and different’ (The Quietus).

The Green Man Trust’s partnership with Green Man puts great Welsh talent centre stage on ‘one of the best, most absorbing, enriching weekenders on the festival calendar right now’ (Clash Magazine). It’s a partnership that provides clear cultural and public benefits to the people of Wales, benefitting 10,000+ people since 2014. The Trust is pivotal not only in developing the national arts sector and growing the representation of Welsh arts at the festival but also in supporting the wellbeing of our nation through our Community, Science Engagement and Training & Development programmes.

2022 saw the charitable work of the Green Man Trust reach 420 people across all our programmes:

GREEN MAN TRUST LIMITED

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 DECEMBER 2022

1. Arts Programmes in review

MUSIC DEVELOPMENT

Our Music Development programme aims to give the most talented emerging acts a step up and set them on their way to becoming the headliners of tomorrow. It’s a unique project that offers bands significant showcase opportunities, mentoring, and unrivalled access to large audiences and top industry influencers and it all happens under the umbrella of one of the most respected independent music festivals in the UK. We’ve seen Rising acts go on to receive nominations for the Mercury Prize, Best Album of the Year, features in Rolling Stone’s, recordings in Maida Vale Studios for the BBC and KEXP; and sign to Domino Records, Rough Trade and ATC Live.

Navigating today’s music industry was already tough business prior to the COVID-19 pandemic which brought the whole of the live sector to a halt leading to limited live performance opportunities. The industry is facing a backlog of touring dates, making it harder for emerging talent to secure those vital live performance opportunities. Our Music Development programme once again proved to be an industry-respected gateway for new music, gaining a renewed urgency in helping sustain the creativity and development of emerging bands.

The programme featured three complementary elements:

The programme directly benefitted 161 music creators and hosted a total of 40 live performances. Focusing on quality and potential, the Rising stage was curated by Green Man’s renowned creative team while the Settlement stages were curated by 3 different Welsh partners - Cardiff-based musician Gareth Bonello on Monday, I KA CHING Records on Tuesday and Cae Gwyn Records on Wednesday.

The Rising competition received in excess of 3,000 submissions for a second year. Dactyl Terra were crowned the winners in 2022, securing the opening slot on Green Man’s iconic 12,000-cap Mountain Stage on Friday to a packed auditorium. The 4- piece psych rock outfit hailing from the South Wales Valleys, are an ever-evolving sonic machine mixing influences from psych rock, classic rock, jazz and funk. The live final was hosted at Clwb Ifor Bach in Cardiff and streamed live on Green Man Festival’s YouTube channel, reaching over 6,000 live audiences. There was a huge appetite from audiences as we opened the competition up to public vote and the response was overwhelming, receiving over 40,000 votes. The quality, boldness, range of voices and genres was astounding and exciting - proof the industry is very much alive and vibrant. 2022 finalists were: Dactyl Terra, Pushpin, The Deep Blue, Preen and Tapir!. The judges were highly respected talent makers worldwide; all coming from very different walks of life and volunteering their time to show their support of the project and emerging talent. The 2022 judges were:

The competition selection process was done in three tiers, in keeping with what sets Rising apart from other opportunities out there. Green Man’s in-house creative team listened to three tracks of every single band to whittle down the entries to a longlist of 22. The longlist was voted by the public who helped select the five finalists, building on each band’s public profile and increasing audience engagement. Each band had a bilingual dedicated and branded page on Green Man Festival’s website with a short bio, a promo shot and a Spotify playlist of their tracks. In addition, we created a Rising playlist on Soundcloud exclusively featuring the 22 shortlisted bands.

The Gentle Good, No Thee No Ess, Katell Keineg, Lowri Evans, Ah Gee Bee, Cara Ludlow, Candelas, Y Cledrau, Yr Eira, Glain Rhys, Blodau Papur, Dienw, Omaloma, The Mighty Observer, Pelydron, Nia Morgan, Lastigband and Ellis and Amor gave 5,000 captive Settlers a taste of Wales’s vibrant and diverse music scene. South Wales’ Alice Low and Ailsa Tully flew the Welsh music flag on Green Man’s 2,000-capacity Rising Stage.

GREEN MAN TRUST LIMITED

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 DECEMBER 2022

Our project supported particularly young music creators between the age of 16-25, who had all been performing for less than 3 years. Our evaluation showed that:

‘The online version [of the final] allows for further outreach which is extremely useful. The high production quality means it's great for emailing around. It's a great promotional asset to have for our band.’ - Pushpin, Green Man Rising finalist

VISUAL ARTS DEVELOPMENT PROGRAMME:

Green Man's Visual Arts is an ambitious developmental programme carving out a new space for visual artists in the music festival scene and challenging creators and audiences to think ‘outside the white cube’. It offers emerging artists, or those at a step-change in their practice, a combined residency and commission model running over 12 months. A truly nurturing approach, it’s all about giving artists a platform, the appropriate time and budget, a supportive environment and access to a creative community to help them develop their research and artistic output. Since 2016, we have supported 75 artists and commissioned 21 works allowing artists to diversify and explore new contexts for their work, bringing them out of the gallery space to the outdoors to encourage encounters and responses to the natural landscapes that surround us.

We’ve supported some of the most exciting up-and-coming artists working with digital media and new technologies – Gweni Llywd, Freya Dooley, Beth Kettel, Hazel Brill, Megan Broadmeadow, Nathaniel Rackowe, Antonio Roberts and renowned Italian artist Carlo Bernardini among many others.

We’ve co-commissioned work with FACT, Forma, QUAD, g39 and Southwark Park Galleries.

Our residency programme attracts a critical mass of expert mentors and guest speakers: Karen Mackinnon, Glynn Vivian Gallery; Judith Carlton, SPG; Ceri Hand, Somerset House; Ben Borthwick, curator; Shonagh Manson, GLA; Peter Bonnell, QUAD; Helen Starr, curator, Afro-Carib activist and founder of Mechatronic Library; Rachel Cunningham-Clarke, Forma and Maitreyi Maheshwari, FACT.

In 2022, the programme supported 2 artists on commission and 2 artists in residence. We exhibited 2 works by Catrin Webster and Roy Efrat which tied in with the 50th anniversary of Pride in the UK, exploring ideas of transformation, self and gender identity. Orlando: Metamorphosis was a new commission - an 8x8m large-scale digital painting suspended in the tree canopy. The work was double-sided, different on each side, and projection-mapped with two related film sequences. The films featured renowned Israeli dancer Mami Shimazaki. Orlando drew inspiration from Virginia Wolfe’s same-title autobiographical love story and from the Welsh Mabinogion texts. The commission also allowed the artists to collaborate with Welsh folk duo DnA (mother and daughter Delyth & Angharad Jenkins) who played a 30-minute improvised set on the harp and violin, creating a magical moment of peace and calm at the festival attended by 120 people. The reconfigured work, Passing appeared on the far bank of Green Man’s pond. The 6x4.2m moving-image work was a rhythmic visual collage exploring connections between sonic figures and environmental patterns.

GREEN MAN TRUST LIMITED

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 DECEMBER 2022

All artists fed back that being on the programmes had significantly impacted their professional and creative development, agreeing that:

‘Working in this collaborative way together created a wonderful and supportive environment in which we could be innovative and try new approaches. Working outside within the landscape provided fresh inspiration and drew in historic associations to landscape and storytelling (...) The site-specific nature of this work offered new creative directions including the opportunity of a live performance with acoustic musicians DNA. Also it was possible to make work which without the support of the producer and Green Man would not be possible’ - Catrin Webster

PERFORMING ARTS

Green Man’s Performing Arts development programme is an all-Welsh showcase of outdoor arts that uses the festival’s international reach as a springboard for artists to develop new audiences and try out new ideas. It is now one of the key dates in the national Summer touring calendar. Be it a small circus company just starting out or an established household name like National Theatre Wales looking to experiment, our project works with artists over a number of years and offers specialist technical support, infrastructure, networks, mentoring and peer-learning opportunities that are hard to find in one same place otherwise. The programme also features an artist-led panel discussion and peer-networking event that is embedded in and structured around the topics that artists want to address. Our ambition is to develop into an international exchange programme to support the sector’s ‘local to global’ strategy and enable the development of more Welsh cultural offers that are exportable to non-Welsh audiences.

The Back of Beyond returned in 2022 after a 2-year hiatus to present 15 shows by a total of 161 emerging Welsh artists across 50 performances over 3 days. It offered a fresh look at Welsh language and culture through the lens of an exciting mix of diverse and underrepresented voices. We presented the work of the Four Nations network, the pilot commissioning and artist exchange programme developed in partnership with Waterford Spraoi, SURGE, Out There Arts UK and Green Man Festival, helping Welsh acts to tour. It offered the Welsh commissions a chance to take their work to 3 different festivals across the UK and Ireland, connecting with new audiences, expanding their networks and exchanging knowledge through shared learning. For the artists on the Back of Beyond programme who were not part of the network, it also offered an invaluable peer learning and networking opportunity at the festival. The programme also welcomed its first international delegation bringing together outdoor arts networks from across the UK and Ireland to connect and explore pathways for new collaborations across the border. The Four Nations committee also fed into our annual panel discussion & artist networking session, which this year explored new ways of working collaboratively and emerging from Brexit and the pandemic with an international outlook. The session was attended by 43 artists\creatives.

Allowing Circus of Truths/Kris Huball to take the creative lead on the evening performing arts show, we offered a platform for co-creation and collaboration with local communities, bringing together the many different voices and cultures of contemporary Wales to present an ambitious, anarchic and endlessly comedic spectacle that delighted audiences young and old. The daytime programme presented a Welsh line-up focused on work that had developed over the pandemic: Krystal Lowe, Whimsy; Osian Meiler, Qwerin; The Wheelabouts, Aileen The Alien; Hijinx, Grumpy Unicorns and Theatr Iolo w/ Kitsch & Sync, HOOF! Alongside this line-up, we presented works commissioned by the Four Nations: Tidal, Kim Noble & Ofelia Balogun (Wales), Sound Foraging, Ardal Bicnic (Wales), Hands Down Circus, Tape That! (Ireland), Beside Ourselves, The Roving Court (England) and Alright Doll, Eilidh Reilly (Scotland).

Our evaluation shows that:

GREEN MAN TRUST LIMITED

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 DECEMBER 2022

‘Having a really lovely, supportive, and safe space to test out this new piece in development has been the best part. It was a much less stressful experience compared to doing it at street festivals and really helped us to build our confidence! Lots of people said they were very pleased to see us there, we received a positive comment in The Times, and quite a few said "you're here every year, that's really nice"’ - Jules Young, No Sleep Dance Theatre

REACH,

DIVERSITY

& INCLUSION

This year saw us continue our commitment to working with and showcasing those most underrepresented in the arts. From work created and performed by Welsh language speakers, neurodiverse, disabled, LGBTQIA+ and ethnically diverse creatives, we place diversity centre-stage which in turn made our programmes richer, more relevant and more representative of the society we live in.

⅘ creatives on our Visual Arts programme were women, one artist is neurodiverse; 49% of acts on our Music Development programme were Welsh and 51% female-led; 75% of the performing arts programme was Welsh, 20% LGBTQIA+-led, 20% disabled-led, 40% female-led, 15% diverse-led.

In terms of audiences, Green Man attracted a truly diverse demographic, spanning generations young and old and coming from all around the globe - 22% under 18s; 51% 18-34 yrs; 25% 35-64 yrs; 2% 65+; 26% from Wales; 70% from the rest of the UK; 4% international. This greatly benefitted artists as they were exposed to audiences beyond their existing reach.

There was a significant shift in press interest focused on the work of the Green Man Trust which gave unprecedented exposure to artists involved in our programmes, both in print and broadcast media. In Wales alone, there were 50+ pieces of coverage, 2 live and pre-recorded packages appearing at ITV Wales and BBC News featuring the Green Man Trust projects and 1 live interview on Radio Wales; 30 minutes of uninterrupted Green Man coverage at ITV Wales Backstage and Welsh language pieces for S4C broadcasts, namely Newyddion (news programme) and Heno (magazine programme). This brought the total circulation in Wales alone to over 68 million.

The festival was reviewed across all main media, including 5 in the Guardian, NME and Independent, 4 The Times and Rolling Stones alongside reviews in The New Statesman, Clash Magazine, The Quietus, VICE, BBC News, WalesOnline, The Line of Best Fit, Crack, So Young, The Big Issue among many others. Cosmopolitan rated Green Man ‘the most LGBTQ+friendly festival in the UK’ for the 3rd year in a row.

High-quality artistic content across Green Man Sessions, Green Man Radio, official photography & video added to artists’ promotional assets as part of the programmes. As each programme has its own dedicated bilingual announcement allowing artists to tap into an average 30k+ website visits pm, a mailing list of 80k+, Youtube channel (90k+), Twitter (55k+), Facebook (100k+), playlists on Spotify and Soundcloud playlist (38k+).

2. Training & Development Programme

The various training programmes offered through the Green Man Trust at Green Man Festival aim to develop a broad range of professional and soft skills. Placements are offered across a number of areas including Operations, Marketing, Ticketing, Artist Liaison, Logistics, Development, Stewarding and Recycling & Waste Management.

41 people took part in one of our training and development programmes in 2022. These included refugee and asylum seekers from the Oasis Cardiff and students from Cardiff University and University South Wales.

OASIS CARDIFF SUPPORT PROGRAMME:

Working in partnership with Oasis Cardiff and Green Man Festival, our project aims to help make the process of integration easier for refugees and asylum seekers, with an element of fun which has proven a truly impactful way to achieve profound change.

Our project brought 25 participants to the festival for a week-long training and personal development experience.

The group was split into assigned areas of responsibility:

GREEN MAN TRUST LIMITED

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 DECEMBER 2022

While the group were onsite, they had the support of 2 Oasis Cardiff support workers and of Green Man Festival's Staff Wellbeing Manager. The training was delivered and overseen by Green Man’s Stewards Manager, who has worked on the project since its inception.

Participants highlighted the following as the most important outcomes for them and skills developed as a result of the project:

The selection of the participants is done by the experienced team at Oasis Cardiff, who work with clients on a daily basis from their base in Cardiff. Not all of the 150+ clients were ready to take part – some due to mental health issues in many cases caused by PTSD would not be able to cope with big crowds or noise, for others language, religious reasons or family commitments were a barrier. Some degree of English was necessary so participants felt confident in interacting with the public.

Participants were trained in health & safety and fire evacuation procedures, crowd management and customer services and developed communication, teamwork, leadership and interpersonal skills, adding to both their professional and personal development while being part of a quintessentially British summer tradition. For many, it was their first time leaving Cardiff and their first experience of a music festival.

The workshop tent was a space to share real-life experiences with a view to breaking down the misconceptions about people who seek refuge and asylum. It featured works from The Restore photography exhibition which was created in conjunction with Ffotogallery to mark Refugee Week 2022. The exhibition showed a selection of photographs taken by photographers who have lived experience of the Asylum Process. It worked as a talking point and created a safe space where participants could talk to visitors about their own experiences seeking asylum in the UK.

‘The impact of our refugee and asylum-seeking clients coming to Green Man Festival and being supported by Green Man Trust lasts longer than the festival itself. Stewarding increases confidence enables friendships to be developed, and makes in the word of a client “me feel useful”. Green Man is exceptional at welcoming us as an organisation and it is the true highlight of our year. We would encourage other groups to bring clients to steward and see the positive change. As we say let kindness ripple.’ - Reynette Roberts CBE, Director Oasis Cardiff and project manager

‘ It's such an excellent experience for me for so many reasons, after all of the things I have experienced, this is something new and normal to experience.’ - Rahman, participant 2022

‘The festival was so fantastic I really enjoyed myself so much to the extent I even forget all my problems. I wish my happiness would remain just like eating, hanging out with friends and enjoying good music and having lots of fun, thank you, much appreciated - Alpha, participant 2022

GREEN MAN TRUST LIMITED

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 DECEMBER 2022

MEDIA TRAINING PROGRAMME:

Our Media training programme was previously run in partnership with Merthyr Tydfil College. The College no longer runs the Media Studies course as part of its curriculum, so we piloted a new partnership in 2021 with the University of South Wales (USW) which continued into 2022.

The programme is rooted in raising the aspirations of young people, offering them the chance to experience working in a high-profile event alongside some of the best AV professionals in the country. Our aim is that the experience hones students’ skills, broadens their horizons and develops their confidence to pursue a career in the Creative Industries. It is also, on a personal level, a very exciting and once-in-a-lifetime experience that is unique in the area. The project gives young people a chance to experience a new environment, meet new people and face new challenges. Students leave with an enhanced CV and skillset that significantly supports their long-term employment prospects in the creative industries.

2022 saw our project work with seven 2nd-year students from USW’s Media Production Degree. The group took part in a 7- day, intensive, hands-on Media Production work experience at Green Man, under the guidance of the festival’s AV team. Participants were responsible for camera engineering and editing the live feed of Green Man’s 6,000-capacity Far Out stage. The group were mentored by 3 past participants, who did the programme last year and returned to perfect their technical abilities, build new connections with industry professionals and gain new leadership and people management skills.

Students worked an average of 40 hours each and recorded over 30 hours of live footage, developing key skills in live camera operation, live editing, vision mixing backstage and light engineering. Students had the opportunity to film the likes of Mercury Prize nominee Cate Le Bon, BRIT awards nominees Bicep, international indie giants Ty Segall & the Freedom Band and Parquet Courts as well as an incredible blend of acts from all corners of the globe - South Africans BCUC, Japanese Minyo Crusaders, Australian Psychedelic Porn Crumpets, Swedish Viagra Boys and Zambian WITCH among many others.

Split into teams, they cover 3 different areas of work on rotation: 1) filming on stage, 2) filming in the pit and, 3) backstage vision mixing and giving live directions to their camera operating teams. The group also produced a short feature film, which they finalised at the festival and premiered in the cinema tent on the Sunday. It was their project for the Client Brief – Professional Practice module. On top of developing technical skills that directly feed into their professional training, students learned a wealth of vocational skills. The placement will feed into students’ 3rd-year assessment.

The Impact

100% of participants rated their overall experience 5/5 and agreed that the placement was relevant and informative for their professional development and future career prospects. All felt that they had developed both professionally and vocationally, highlighting communication, self-confidence and self-esteem, problem-solving, teamwork, determination and resilience, stress management, self-reliance, negotiating and coping skills.

A key element of the programme is showing participants the wide career options available to them and raising their aspirations. 100% agreed they learned about new career prospects and left more confident in their technical abilities. Participants felt supported, respected and valued.

‘Honed my camera engineering and camera skills specifically my reaction times with the focus as artists would dart around the stage.’

‘Green man goes beyond my expectations in terms of the good it does for people like myself to get a foot in the door.’

GREEN MAN TRUST LIMITED

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 DECEMBER 2022

‘It has allowed me to consider roles I wasn't aware of within the live event industry. I was originally shooting to work in a post production studio, I've now focused my goal to working my way within the live events industry as an AV engineer.’

CARDIFF UNIVERSITY TRAINING PROGRAMME:

The Training Programme in partnership with Cardiff University launched in 2018. In 2022, we offered 6 paid work placements at Green Man for students and recent graduates across Operations, Logistics, Artist Liaison, Marketing, Recycling & Waste Management and Ticketing teams as well as Fundraising with the Green Man Trust.

Placements are intensive short-term learning experiences that give young people professional insight into running a successful, sustainable and ethical large-scale operation, bridging the gap between higher education and employment.

3. Science Engagement

The Green Man Trust’s Science Engagement takes form in Green Man Festival’s Einstein’s Garden. Created in 2008, it aims to ignite people’s curiosity about science. It has become a respected gateway for the science community and academia and was the first science engagement programme at a music festival. For over 10 years, Einstein’s Garden has been transforming the way over 200,000 people engage with science in their day-to-day lives.

With an environmental and science engagement focus, the programme brings together world-renowned science institutions, talented artists and producers and curious audiences to experiment, discover, question and debate. We create wonderful experiences and lifetime memories and welcome everything from mushroom-growing workshops to panel discussions about death, but the enduring underpinning theme of the garden is the environment and our relationship with it. Interactive performances at Einstein’s Garden take place in a workshop dome, on our solar-powered stage or in our hydrogen fuel cell-powered theatre tent. It’s a space where science gatecrashes arts, comedy, circus, music, and theatre. We create opportunities for our research partners to develop new audiences.

53 research projects, talks, workshops and performances were supported under the programme in 2022:

GREEN MAN TRUST LIMITED

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 DECEMBER 2022

Financial review

Trustees monitor and review the charity reserves policy annually as part of ongoing budgetary processes. The charity reserves policy is to hold at least the equivalent to 6 months’ salary costs to keep the charity in operation should income level fall below expected, this equates to approximately £20,000 at the end of the financial year. At 31 December 2022 the charity had total reserves of £207,922 (2021:£263,837). Of these reserves £15,239 are restricted funds (2021:£nil). The free reserves of the charity are £192,683 (2021: £263,837).

The Trustees feel the unprecedented circumstances and the environment caused by the pandemic highlighted the charity’s reliance on the festival and its vulnerability to manage unforeseen financial difficulties. To be better placed to mitigate risk, the charity updated its reserves policy at the 6 November 2022 AGM, to cover at least 12 months’ salary and operating expenses (predicted at £40,700).

Going concern

After making an appropriate analysis and taking into account unrestricted funding secured during the year in review, the trustees have a reasonable expectation that the Trust has adequate resources to continue in operating for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further detail regarding the adoption of the going concern basis can be found in the Accounting Policies.

Plans for the future

The primary long-term aim of the Trust is to develop the activity within our four main strategic strands: Artistic Development, Training and Development, Community Support and Science Engagement.

Artistic Development

We will continue to support artists, particularly those at the start of their career with showcase opportunities, networking prospects and career development. Future developments continue to involve widening the opportunities for showcasing and professional development beyond the festival and developing partnerships for international touring and collaborations.

Training and Development:

Green Man Trust is passionate about offering training and development opportunities to young people and early-career starters. Across a number of events and opportunities we offer professional and career development as well as technical training in a number of areas and disciplines e.g. Production, event management, programme curation and many more. Future developments for this area are to secure sufficient funds for a dedicated Project Manager who can manage and expand the training and development programmes and research potential collaborations to enhance opportunities for those participants involved.

Community Support:

Green Man Trust is committed to enhancing the support for local causes and continually reviews its own grant-making systems and charitable activities. Since the Festival’s establishment in Crickhowell, Wales, Green Man has supported the community to raise funds for local causes and we want this to continue through the Trust.

Future developments for community support will include expanding our relationships with local schools, colleges and universities as a way of developing opportunities for young people in the local area. £5,000 is ringfenced every year to directly support community projects in and around the local area.

Science Engagement:

Future plans include the strategic development of links with science organisations and sources of funding to support successful science engagement. Following a successful 3-year partnership with the Wellcome Trust, a business plan for the development of Einstein’s Garden plans to:

GREEN MAN TRUST LIMITED

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 DECEMBER 2022

Structure, governance and management

Constitution

The Trust is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 17 January 2013, replaced by new Articles of Association 20 March 2014.

The Trust is constituted under a Memorandum of Association dated 17 January 2013, replaced by new Articles of Association 20 March 2014, and is a registered charity number 1156453.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Ms F Stewart, Chair Mr I Fielder, Treasurer Ms N Hale, Trustee Ms J Owen, Trustee

Method of appointment or election of Trustees

The management of the Trust is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association.

Policies adopted for the induction of Training Trustees

The charity has a programme of training for newly appointed trustees.

Organisational structure and decision making

Trustees:

The Trustees serve on the governing body of the Green Man Trust and this is where the decision making lies for the trust. Our trustees are responsible for the general control and management of the administration of the charity. They accept ultimate responsibility for directing the affairs of the charity, and ensure that it is solvent, well-run, and delivering the charitable outcomes for the benefit of the public for which it has been set up.

Chair: The Chair is required to lead the board of trustees regarding strategy and targets, to represent the Green Man Trust to external bodies and organisations and with support from the Board to sustain current and develop new forms of income or support for the charity. The chair of the Green Man Trust is Fiona Stewart.

The Treasurer: The Treasurer will interpret and explain accounting requirements, ensuring that the board receives financial reports and guide any other professional advisers or administrators they have appointed including the Company Secretary. The Treasurer for the Green Man Trust is Ian Fielder.

The Company Secretary: The role of the Secretary is to support the chairperson in ensuring the smooth functioning of the governing body, organisation, updating and recording of the administration and financial affairs of the Green Man Trust.

From the current reporting year, one member of staff is employed by the charity to carry out the role of Secretary and Development Manager.

GREEN MAN TRUST LIMITED

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 DECEMBER 2022

Statement of trustees' responsibilities

The trustees, who are also the directors of Green Man Trust Limited for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Trust and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Trust and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees' report was approved by the Board of Trustees.

Ms F Stewart, Chair

Mr I Fielder, Treasurer

Dated: 6 July 2023

Dated:6 July 2023

GREEN MAN TRUST LIMITED

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF GREEN MAN TRUST LIMITED

I report to the trustees on my examination of the financial statements of Green Man Trust Limited (the Trust) for the year ended 31 December 2022.

Responsibilities and basis of report

As the trustees of the Trust (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the Trust 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 the Trust’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

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:

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 financial statements to be reached.

Tim Lerwill, FCA Old Mill Accountancy Limited Unit 2 Greenways Business Park Bellinger Close CHIPPENHAM Wiltshire SN15 1BN England

Dated: 12 July 2023

GREEN MAN TRUST LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2022

Unrestricted
Restricted
funds
funds
2022
2022
Notes
£
£
Income from:
Donations and legacies
3
78,142
146,271
Investments
4
695
-
Total income
78,837
146,271
Expenditure on:
Raising funds
5
49,785
-
Charitable activities
Charitable activities
6
100,206
131,032
Total charitable expenditure
100,206
131,032
Total resources expended
149,991
131,032
Net (expenditure)/income for the year/
Net movement in funds
(71,154)
15,239
Fund balances at 1 January 2022
263,837
-
Fund balances at 31 December 2022
192,683
15,239		 Total
2022
£
224,413
695
225,108
49,785
231,238
231,238
281,023
(55,915)
263,837
207,922		 Total
2021
£
347,413
4
347,417
17,797
109,618
109,618
127,415
220,002
43,835
263,837

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

GREEN MAN TRUST LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2022

Notes
Current assets
Debtors
11
Cash at bank and in hand
Creditors: amounts falling due within one
year
12
Net current assets
Income funds
Restricted funds
15
Unrestricted funds		 2022
£
740
220,433
221,173
(13,251)		 £
207,922
15,239
192,683
207,922		 2021
£
1,000
266,835
267,835
(3,998)		 £
263,837
-
263,837
263,837

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

The financial statements were approved by the Trustees on 6 July 2023

Ms F Stewart, Chair Mr I Fielder, Treasurer Trustee Trustee

Company Registration No. 08365361

GREEN MAN TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting policies

Charity information

Green Man Trust Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Old Bank House, Beaufort Street, CRICKHOWELL, Powys, NP8 1AD.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Trust's governing document, the Companies Act 2006 and “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). The Trust is a Public Benefit Entity as defined by FRS 102.

The Trust has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the Trust. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Incoming resources

Income is recognised when the Trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the Trust has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

GREEN MAN TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting policies

(Continued)

1.5 Resources expended

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

1.6 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7 Financial instruments

The Trust has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Trust's balance sheet when the Trust becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

GREEN MAN TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting policies

(Continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the Trust’s contractual obligations expire or are discharged or cancelled.

1.8 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the Trust is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10 Government Grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.

2 Critical accounting estimates and judgements

In the application of the Trust’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted
Restricted
funds
funds
2022
2022
£
£
Donations and gifts
78,142
69,835
Grants receivable for core activities
-
76,436
78,142
146,271
For the year ended 31 December 2021
242,538
104,875		 Total
2022
£
147,977
76,436
224,413		 Total
2021
£
277,302
70,111
347,413
347,413

GREEN MAN TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

4 Investments

Interest receivable
Raising funds
Unrestricted
Restricted
funds
funds
2022
2022
£
£
Fundraising and publicity
Seeking donations, grants and legacies
14,722
-
Staff costs
35,063
-
Fundraising and publicity
49,785
-
49,785
-
For the year ended 31 December 2021
Fundraising and publicity
16,200
1,597		 Unrestricted
funds
2022
£
695
Total
2022
£
14,722
35,063
49,785
49,785		 Total
2021
£
4
Total
2021
£
1,317
16,480
17,797
17,797
17,797

5 Raising funds

GREEN MAN TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

6 Charitable activities

Charitable Charitable
activities activities
2022 2021
£ £
Staff costs 6,523 16,480
Visual Arts Programme 31,827 24,352
Repairs & Maintenance 249 -
Performing Arts Programme 64,852 -
IT Software and Consumables 1,326 1,766
Music Development Programme 42,537 14,764
Advertising and Marketing 11,096 1,177
Telephone, Internet, and IT - 1,030
Bank fees 169 96
Accountancy 2,160 2,040
Professional fees 13 19,813
Training Programme 47,145 21,000
Science Engagement 17,831 4,000
Rent - 1,380
Other charitable expenditure 1,010 280
226,738 108,178
Grant funding of activities (see note 7) 3,000 -
Share of governance costs (see note 8) 1,500 1,440
231,238 109,618
Analysis by fund
Unrestricted funds 100,206 2,913
Restricted funds 131,032 106,705
231,238 109,618
Grants payable
2022 2021
£ £
Grants to institutions:
Ukraine Trauma First Aid Project Appeal 2,000 -
Choose Love 1,000 -
3,000 -

7 Grants payable

GREEN MAN TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

8 Support costs

Support costs
Governance
costs
£
£
Independent Examiners' fees
-
1,500
-
1,500
Analysed between
Charitable activities
-
1,500		 2022
£
1,500
1,500
1,500		 2021
£
1,440
1,440
1,440

In addition to the Independent examiner fees shown above, included within charitable activities expenditure are fees payable to the Independent examiner in respect of accountancy and other services of £2,160 (2021:£2,040).

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the Trust during the year.

10 Employees

The average monthly number of employees during the year was:

2022 2021
Number Number
2 1
Employment costs 2022 2021
£ £
Wages and salaries 40,476 32,000
Other pension costs 1,110 960
41,586 32,960
There were no employees whose annual remuneration was more than £60,000.
11 Debtors
2022 2021
Amounts falling due within one year: £ £
Trade debtors 740 1,000

GREEN MAN TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

12 Creditors: amounts falling due within one year

Notes
Other taxation and social security
Deferred income
13
Trade creditors
Other creditors
Accruals and deferred income
Deferred income
Arising from Music Development Programme 2023
Movement in the year
At 1 January 2022
Amount released to income earned from charitable activities
Amount deferred in the year
At 31 December 2022		 2022
£
944
4,786
2,565
216
4,740
13,251
2022
£
4,786
2022
£
-
-
4,786
4,786		 2021
£
518
-
-
-
3,480
3,998
2021
£
-
2021
£
-
-
-
-

13 Deferred income

Deferred income relates to income received in the year specifically relating to Music Development Programme 2023.

14 Retirement benefit schemes

Defined contribution schemes

The Trust operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Trust in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £1,110 (2021 - £960). As at 31 December 2022, there was a pension payable liability of £216 (2021 - £nil).

GREEN MAN TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

15 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds Movement in funds
Balance at 1 Incoming Resources Balance at 31
January 2022 resources expended December 2022
£ £ £ £
Visual Arts - 19,118 (19,118) -
Music Development - 11,470 (11,470) -
Training & Development Programmes Fund - 42,191 (38,420) 3,771
Einstein's Garden Fund - 28,384 (16,916) 11,468
Performing Arts - 45,108 (45,108) -
- 146,271 (131,032) 15,239
Prior Year Movement in funds
Balance at 1 Incoming Resources Balance at 31
January 2021 resources expended December 2021
£ £ £ £
Visual Arts 3,427 20,000 (23,427) -
Music Development - 14,764 (14,764) -
Training & Development Programmes Fund - 45,111 (45,111) -
Einstein's Garden Fund - 21,000 (21,000) -
Science Engagement - 4,000 (4,000) -
3,427 104,875 (108,302) -

GREEN MAN TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

15 Restricted funds

(Continued)

Restricted funds

Restricted Funds 2022

Arts Council of Wales Lottery Project Grants: a grant of £69,030 was awarded towards the costs of arts development projects – Music Development, Performing Arts and Visual Arts. The funds were allocated as follows:

Wales Arts International (part of Arts Council of Wales) - a grant of £7,406 towards the Performing Arts International Exchange programme

Ashley Family Foundation (via Community foundation Wales) – a grant of £10,000 was awarded towards the costs of the Training & Development programme in partnership with University South Wales.

Welsh Broadcasting Trust – a grant of £7,200 was awarded towards the costs of the Training & Development programme in partnership with University South Wales

Cardiff University – a grant of £11,000 was awarded towards the costs of the Training & Development programme in partnership with Cardiff University.

Great Western Railway Community Fund - two grants totalling £26,375 towards:

Major donors - £16,000 towards R&D of Weather the Weather, Einstein’s Garden climate installation

GREEN MAN TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

15 Restricted funds

(Continued)

Restricted Funds 2021

Cultural Recovery Fund - a grant of £45,111 was awarded through the second phase of the Welsh Government's emergency support package for the Arts and Cultural sector. The funds were allocated as follows:

• £25,111 towards fixed business

• £20,000 towards consultancy

Arts Council Wales Lottery Project Grants – a grant of £10,000 was awarded towards the costs of two arts development projects – Music Development and Visual Arts. The funds were allocated as follows:

Arts Council England Lottery Project Grants – a grant of £15,000 was awarded to the Visual Arts Programme

PRS Foundation – a grant of £9,764 was awarded towards the costs of the Music Development programme.

Ashley Family Foundation (via Community foundation Wales) - a grant of £10,000 was awarded towards the costs of the Training & Development programme in partnership with University South Wales.

16 Analysis of net assets between funds

Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
£
£
Fund balances at 31 December 2022 are represented by:
Current assets/(liabilities)
192,683
15,239
192,683
15,239		 Total
£
207,922
207,922

There is no comparative table shown as there were no restricted funds at the end of the prior year.

17 Related party transactions

During the year there were expenses incurred from Plantpot Limited of £1,495 (2021:£60,610) and £249 (2021: £nil) from Green Man Festival. At the year end £nil (2021:£nil) was due to Plantpot Limited and £nil (2021:£nil) was due to Green Man Festival. Plantpot Limitied are connected by a trustee of Green Man Trust Limited who is the ultimate controlling part of Plantpot Limited. Green Man Festival are connected through common control. There were no specific terms and conditions attached to this balance.

During the year a donation of £15,421 was received from Plantpot Limited who is connected by a trustee of Green Man Trust Limited who is the ultimate controlling part of Plantpot Limited.