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← Green Man Trust Ltd

2023-12-31-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 2023

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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
Mr D Langford, Trustee (Appointed 25 May 2023)
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 - 13
Independent examiner's report 14
Statement of financial activities 15
Balance sheet 16
Notes to the financial statements 17 - 28

GREEN MAN TRUST LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees present their report and financial statements for the year ended 31 December 2023. 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.

The Trust also raises donations from individuals and private donations which support its core work. Plantpot Ltd, Green Man festival’s parent company, donates generous resources for the day-to-day operation of the charity (office space and utilities), as well as in-kind production support (festival tickets, site fees, infrastructure and staff time) to support the delivery the Trust’s charitable programmes. This relationship means that the Trust is able to channel on average 75% of its income directly towards its beneficiaries. 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 reach large and varied audiences to widen the impact and legacy of the projects. Plantpot Ltd will also donate funds from time to time. In addition, the relationship with Plantpot Ltd (Green Man Festival) also allows the Trust to raise funds from audiences buying tickets (via a suggested, opt-in ticket top-up donation) and attending the festival (via donations collection systems at the box offices).

A proportion of the Trust’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 2023

Achievements and performance

Green Man is one of the most beloved festivals in the UK. One of only four independents left, it is recognised for the quality of its programme (5* Guardian, Independent, Telegraph, NME), rich and inclusive audience experience (6 Music Best UK Festival, Gold Charter by Attitude is Everything), commitment to gender equality (Women in Music, Cosmopolitan) and environmental best-practice (Vision 2025, partnership with A Greener Future).

Green Man Trust is the festival’s charitable arm and works from a position of strong values to make 'good stuff' happen; its charitable objectives include:

Since 2014:

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

Green Man festival in 2023 showed ‘(...) a clear intention to focus on its national tongue’ (BuzzMag). ‘(...) It remains independent, while also aiming to be greener than the rest (...) An abundance of Welsh language signage and lessons, too, suggest a commitment to upholding the region’s sense of identity and pride’ (5 NME); ‘Corporate sponsors shunned in favour of local real ale breweries. Bill curated for quality rather than commerce’ (4 Independent), '[Its] core values hold strong. Sponsorship is eschewed. Sustainability, inclusivity (...) and laid-back good vibes reign. Emerging artists, zeitgeisty heavy hitters and heritage heroes alike are platformed to often much bigger crowds than they would typically reach’ (5 Guardian) and ‘despite its growing popularity, Green Man retains much of its charm, no easy feat for an operation this big.’ (5 Wales Online).

2023 saw the charitable work of the Green Man Trust benefit 537 people and projects across all its programmes:

GREEN MAN TRUST LIMITED

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

FOR THE YEAR ENDED 31 DECEMBER 2023

1. Arts Development in review

MUSIC DEVELOPMENT PROGRAMME

Today’s music industry is tough business for emerging bands - it's a layered and competitive ecosystem that was hit hard by recent national and global events and remains very London-centric.

Green Man Trust’s Music Development programme was set up in 2006 to support talented emerging music creators on their way to becoming the headliners of tomorrow and help them navigate the challenges they face to cut through the noise. It’s a unique project that offers bands significant showcase opportunities, mentoring, and unrivalled access to large audiences and top industry influencers. It all happens under the umbrella of Green Man, the flagship festival in the UK to discover new music talent. 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 music talent, and its history of creating headliners gives it significant influence internationally’ (Emma Banks, CAA). We’ve seen supported 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.

There are three complementary strands to the programme:

With the support of Green Man, Arts Council of Wales and the PRS Foundation, the Music Development programme supported a total of 270 music creators (93 Welsh) across its three strands. Music acts were supported through the Green Man Rising competition and programmed on the Rising, Settlement and Acoustic Stages. Focusing on quality and potential, the Rising stage is curated by Green Man’s renowned creative team while the Settlement and Acoustic stages are curated by carefully selected Welsh tastemakers.

Since its launch, the Green Man Rising competition has established itself in the industry as a respected gateway for new music. The three-tiered selection process sets Rising apart from other talent development programmes out there. Each stage purposefully puts acts in front of key tastemakers, be it Green Man’s Creative team, music bloggers, talent agencies, promoters, record labels and press. The competition received over 3,500 applications in 2023 which were whittled down to a long list of 20. It was then down to the public to choose the final 5. Over 40,000 people voted and selected Eve Appleton Band, Hyll, Oslo Twins, Ziyad Al-Samman and Joyeria for final, which was filmed at Club Ifor Bach in Cardiff and was streamed for free on Green Man’s Youtube channel.

The 2023 final was judged by an illustrious panel of highly respected talent makers, promoters, reviewers and bookers worldwide. Judges came from very different walks of life and volunteered their time to show their endorsement of the programme and emerging talent:

Eve Appleton Band were crowned 2023’s winner and won the opening slot on Green Man’s iconic 12,000-capacity Mountain Stage. The remaining finalists all played the festival’s 2,500-capacity Rising Stage. The professionally produced final was given to artists as sessions for them to use for their own PR and to approach bookers, record labels and agents.

Since introducing the Acoustic Stage which runs alongside the Settlement Stage at Green Man, we are now platforming 18 instead nine of the best up-and-coming Welsh bands. This year, the programme was curated by independent Carmarthenbased record label, Liberation records.

GREEN MAN TRUST LIMITED

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

FOR THE YEAR ENDED 31 DECEMBER 2023

The Rising stage showcased the talent of a further 19 emerging bands covering an eclectic mix of genres spanning rock, indie, electronica, post-punk, industrial, alt-rock, folk, garage, jazz and everything in-between.

Across Green Man’s wider music programme, the impact of Green Man Trust’s Music Development programme was evident like never before. Many supported bands returned to play bigger stages across the festival, moving up the bill and the Walled Garden Thursday programme was dedicated to celebrating Welsh music talent.

'[The] promotional tool of the livestream final and playing to such a large audience at the festival have been invaluable and having a recorded gig was much more useful to us as ann asset, rather than a live gig. The crew were all great and we were very happy with the audio mix. It's a great marketing tool for an independent band like us.' - Hyll

VISUAL ARTS DEVELOPMENT PROGRAMME

Green Man Trust's Visual Arts is an ambitious developmental programme that has been carving out a new space for visual arts in the music festival scene. The programme offers early-career artists, or those looking to diversify their practice, a commission model which runs over 12 months. This approach gives artists time, budget and a stimulating creative environment to develop new technical and production skills with the support of a dedicated curator and production team.

Green Man is the only festival in the UK with a programme that has this approach. As we support sector development in Wales, we are also redefining the role of art and the artist in music festivals, taking the work outside the gallery space and showcasing art in the ‘real world’ to generate a different kind of atmosphere, often providing a radically different perspective on the work and challenging audiences to engage with it new ways. In the words of Creative Boom, reviewing the programme in 2023, ‘what better place to experience art than at a festival? You're in the right mindset to appreciate fresh and innovative creative ideas. You're nice and relaxed and have time to appreciate the work without being interrupted by your phone (which is undoubtedly out of service) or other commitments.’

Since 2016, the programme has supported 75 artists through paid commissions and artist residencies. Previous cocommissioned partners include FACT, Forma, QUAD, g39 and Southwark Park Galleries. The 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.

After careful consideration, this year’s programme commissioned two artworks by two Welsh artists - Gunsmoke City by Kathryn Ashill and Is It My Cat Or Beyoncé by Cinzia Mutigli. Themes of identity and mental health ran through both works; a combination of cowboy towns, drag kings, alternative mental health approaches and psychedelia. Ashill’s commission also allowed the artist to collaborate with musician Eugene Capper on two different experimental performances.

The residency was delivered in a hybrid format, part onsite, part online, giving prospective artists the chance to shadow artists-on-commission and an expert technical team while the artworks were installed. The Visual Arts producer works closely with artists to explore the challenges they might face in bringing their creative ideas to an outdoor festival environment, as well as having an initial point of contact for any extra support or access needs.

‘Through being invited to exhibit at [Green man], I have been able to be more prolific and have reached a new audience. New skillsets have been developed as I had no previous experience of making art work for outdoor installation. The support I received on site to achieve my work was exemplary and the team were able to sensitively and proactively meet my access needs.’ - Kathryn Ashill

GREEN MAN TRUST LIMITED

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

FOR THE YEAR ENDED 31 DECEMBER 2023

PERFORMING ARTS DEVELOPMENT PROGRAMME

Green Man Trust’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 or Hijinx Theatre looking to experiment, the 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 addressing.

The programme contributes to the development of outdoor performing arts by raising the aspirations of the sector, focusing on high-production values and impact and implementing a developmental model to nurture the next generation of theatre makers and performers. Outdoor theatre is accessible and democratic, diverse and unexpected, and reaches out to those audiences who don’t normally engage with theatre in its normal context. By offering commissioning opportunities and a platform to test new ideas and ways of working, we support artists to develop their practice and connect to new networks where they can tour work.

Over the past two years, the programme has been establishing an international exchange strategy with the backing of Wales Arts International 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.

This year saw the programme support a total of 157 performers and creatives, 141 Welsh or Wales-based and 16 internationals from across the globe including performers from New Zealand, Ireland, Scotland and Portugal. They dazzled Green Man’s Back of Beyond stage with 21 shows, all bar four were Wales premieres. The programme was an eclectic offering of circus, contemporary dance, physical theatre, comedy and roaming performances focused on diversity and inclusion, Welsh language and heritage, climate justice as well as giving voice to young local people.

The main evening commission 2023, Day Dream Supreme represented everything the development programme is about - collaborative, developmental, community-led and with a strong sense of place. It offered Abergavenny-based dance development organisation Dance Blast a significant opportunity to step up as they took on their most ambitious commission to date. Day Dream Supreme was dance and circus spectacular and visual delight which beautifully captured the chaotic spirit of dreams. Created by Dance Blast’s flagship companies - Monmouthshire Youth Dance Company & Monmouthshire Youth Circus Company, in collaboration with students from Circomedia. Choreographed and directed by Kim Noble & Elle Kate. Design was led by Kitsch & Sync Collective & Royal Welsh College of Music and Drama students and the show featured guest performances by trapeze extraordinaire Lyndall Merry and No Sleep Dance Theatre.

‘This was a truly collaborative project that provided a great opportunity for development for all parties involved (...) Dance Blast’s young people were excited to be invited to bring elements of Day Dream Supreme to perform at the To the Sea Festival in Penarth (...) Kim and Elle have already worked together again since Day Dream Supreme, (...) and will be codirecting Dance Blast’s Arts Council-funded Ignite project 2023/24. They have forged a relationship that we hope will create innovative dance/theatre collaborations well into the future.’ - Kathy Young, Dance Blast

IMPACT, REACH, DIVERSITY & INCLUSION

2023 saw the Trust’s commitment to celebrating diversity, inclusion and Welsh Language. The festival was the first in Wales to be awarded Gold by Attitude is Everything and the Green Man Trust has been central to this achievement.

The Trust commissioned and presented work by Welsh language speakers, neurodiverse, disabled, LGBTQIA+ and ethnically diverse creatives. 3/3 of artists on the Visual Arts programme were women, two neurodiverse; one from an ethnically diverse background; 37% of Music Development acts performed in Welsh language, 53% were female-led; 89% of the performing arts programme was Welsh, 11% international, 23% LGBTQAI+-led, 27% inclusive-led, 49% female-led.

Evaluation shows the intended impact on artist development were achieved:

GREEN MAN TRUST LIMITED

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

FOR THE YEAR ENDED 31 DECEMBER 2023

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.

Audience feedback shows:

The festival’s media reach was 3.9+ billion in 2023 which significantly benefits the promotion of the artists involved. The Arts Development programmes were featured in Creative Boom, Independent, Clash Magazine, The Quietus, VICE, BBC News, WalesOnline, Crack and So Young. In Wales alone, there were 50+ pieces of coverage, two live and pre-recorded packages appearing on ITV Wales and BBC News featuring the Green Man Trust projects and one live interview on Radio Wales; 30 minutes of uninterrupted Green Man coverage on ITV Wales Backstage and Welsh language pieces for S4C broadcasts, namely Newyddion and Heno. This brought the total circulation in Wales alone to over 53+ million. The Visual Arts programme had a dedicated feature in Creative Boom and the Performing Arts main commission got a nod in The Independent - ‘acrobats dressed as clouds spray water-gun rain from on high at the Back of Beyond circus-theatre stage.’

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.

47 people took part in 2023. These included refugee and asylum seekers from the Oasis Cardiff and students from Cardiff University and University South Wales.

OASIS CARDIFF TRAINING PROGRAMME

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

The project focuses on increasing participants’ wellbeing and raising their aspirations, by up-skilling, building confidence and promoting cultural integration, instilling a sense of belonging and purpose and fostering positive relationships across communities.

The strategy is holistic and aims to:

GREEN MAN TRUST LIMITED

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

FOR THE YEAR ENDED 31 DECEMBER 2023

The project welcomed 30 Oasis Cardiff clients to Green Man Festival’s team for a week. For many, this was the first time they leave Cardiff. The group ran a food trailer and a workshop tent and trained on the Festival Stewards team. The workshop tent is a space for the group to share their real-life experiences through storytelling with a view of breaking down many misconceptions about people who seek refugee and asylum. It is also a platform for them to learn about other cultures from the Festival’s diverse and international audience. A group of 15 participants joined the Festival Stewards team and trained in health & safety, fire evacuation procedures, crowd management and customer services which both adds to participants’ professional and personal development. All the proceeds raised from the food trailer sales go towards supporting Oasis Cardiff’s charitable work. While the group are on site, they had the support of two centre support workers and Green Man Festival’s Staff Wellbeing Manager and the experienced Stewards Manager, who both have 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:

‘It's a wonderful opportunity for me meeting people from all walks of life, British people, people from Spain, people from France who have a wonderful culture and I'm seeing and experiencing that for the first time. It was my first ever festival’ - Gaston, Oasis Cardiff client

‘If I had to say something [about a favourite moment working in Oasis so far] it’s when we had our first time at Green Man. It was my first time dealing with customers. So, it was a test of not just my skills as a chef but speaking English. I was really nervous! But then it was fun. We were really busy, but it was a good time with my mates at work. It was stressful but funny at the same time. But at night we could go hear some music which was good (...) The feedback is really nice, it makes me feel really proud of what we do and who we are. It’s all the support of all the people. It’s a good feeling.’ - Alis, Oasis Cardiff client, Chef & Catering Manager of Global Eats food trailer at Green Man

MEDIA TRAINING PROGRAMME

This training programme in partnership with the University of South Wales 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. The 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 once-in-a-lifetime experience. 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.

GREEN MAN TRUST LIMITED

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

FOR THE YEAR ENDED 31 DECEMBER 2023

2023 saw the project work with 8 2nd-year Media Production Degree students. 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. Learning from some of the best AV professionals in the industry, participants were responsible for camera engineering and editing the live feed of the 6,000-capacity Far Out stage. The group were mentored by three past participants, who did the programme the previous 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 nominees Youth Fathers and Jockstrap, psychedelic indie legends Spiritualised, Slowdive, the Orielles Bob Vylan, The Wedding Present, GOAT and Gina Birch among many others.

Split into teams, they covered three 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, followed by a Q&A with Jason Solomons. Jason is the Cinedrome curator and is a renowned British film critic whose credits include BBC News, Sky News and BBC Radio and is the former Chairman of the London Film Critics' Circle. The film was their project for the Client Brief – Professional Practice module. On top of developing technical skills that directly fed into their professional training, students learned a wealth of vocational skills. The placement will feed into students’ 3rd-year assessment.

Over the course of the project, students:

100% of participants rated their overall experience 10/10 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.

‘Putting myself outside of my comfort zone was a huge challenge for me but it really paid off as I am usually someone who lets my anxieties get the better of me. I was nervous I wouldn’t understand the professional practice and let the team down. But we were supported through the whole thing and asking questions was always encouraged. It’s been a highlight learning so much and getting stuck in, filming great acts and my confidence growing a lot.’ - Natasha Horton, participant 2023

‘It was challenging to lead a crew of students to complete the doc project while managing different roles and schedules at the same time. Also, understanding the director's directions in a loud and busy environment like a concert. Returning as a mentor has helped me build a lot on my experience last year and I am grateful to have been invited back to take on more responsibility’ - Lottie Pobjoy, mentor 2023

GREEN MAN TRUST LIMITED

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

FOR THE YEAR ENDED 31 DECEMBER 2023

CARDIFF UNIVERSITY TRAINING PROGRAMME:

The Training Programme in partnership with Cardiff University launched in 2018. Since then, the placements have led to improved employability outcomes for the students:

In 2023, we offered 6 paid work placements at Green Man for students and recent graduates across Operations, Logistics, Artist Liaison, Marketing 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. Students improve a number of professional and personal skills including independent problem solving; proactivity and organisation; adaptability; commercial awareness; effective decision making; effective communication; collaboration/ teamwork; ethical, social and environment awareness; resilience; independent and critical thinking; procurement; marketing; proof-reading; customer service; minuting meetings; creating spreadsheets; writing press reports; research and data analysis.

‘At only 19 years old in an internship role, I didn't expect to be treated as an equal whose opinions were worth listening to. But as soon as I started work at Green Man it felt as if I had become part of a new family! The Green Man ethos of inclusion and respect is maintained top down without a doubt. As soon as you step foot in the festival that is totally obvious. It was genuinely awesome to see this team build a festival from nothing and to be a part of that, and to be given significant responsibility, was so gratifying.’ - Alicia Siriwardena, BEng Electrical and Electronic Engineering student

3. Science Engagement

Science and environmental engagement is a pillar aim of Green Man Trust. As a recognised catalyst for positive change, Green Man is uniquely positioned to help the Trust widen understanding and engagement with the environment and our natural world. For over 10 years, the festival has offered the Trust a platform to engage 25,000+ people from all walks of life each year with science in Einstein’s Garden - the first of its kind in the UK.

The programme brings together world-renowned science institutions, talented artists and producers and curious audiences to experiment, discover, question and debate. It creates wonderful experiences and lifetime memories and welcomes 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 a solar-powered stage or in a hydrogen fuel cell-powered theatre tent. It’s a space where science gatecrashes arts, comedy, circus, music, and theatre, and creates opportunities for research partners to develop new audiences.

54 research projects, talks, workshops and performances were supported under the programme in 2023.

‘By using Green Man’s extensive impact as a disruptive brand and their talent for innovation, they have pioneered new ways to engage communities with science and health through their science experience Einstein’s Garden.’ - Farrah Nazir, Insights and Learning Lead: Culture, Equity, Diversity and Inclusion at The Wellcome Trust .

GREEN MAN TRUST LIMITED

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

FOR THE YEAR ENDED 31 DECEMBER 2023

4. Community Grants

The Trustees agreed to designate a Community Grants Fund which aims to help raise awareness of the support the Green Man Trust has available for community projects. The aim is to encourage engagement from local community councils and help communities tackle areas of need specific to their local area.

The Fund has £10,000 to distribute as a starting point and sets clear guidelines for the types of projects the charity is looking to support, inviting community groups to submit a simple application form. The charity will remain reactive to any special events that may occur in the community, such as the floods of 2020 or the cost of living crisis which saw the Green Man Trust donate £13,000 to local food banks.

Organisations /community groups can apply for grants of up to £2,000 for projects that address an area of social need and help communities become more resilient. Projects may include:

The designated £20,000 pot and grant limit of up to £2,000 are in line with requests for support the charity has historically received. As the new process is tested and reviewed, there is room to make changes to the Fund and make more money available if the charity is in a financial position to do so.

The Trustees make decisions based on an agreed assessment matrix and decisions are communicated to successful proposals in writing. Feedback will also be given to unsuccessful proposals.

GREEN MAN TRUST LIMITED

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

FOR THE YEAR ENDED 31 DECEMBER 2023

Financial review

Trustees monitor and review the charity reserves policy annually as part of ongoing budgetary processes. The charity reserves policy ensures the charity can keep in operation should income level fall below expected. The charity reserves policy has been revised at the 21 November 2023 Annual General Meeting to hold sufficient reserves to cover salaries and operational costs equivalent to £50,000. At 31 December 2023 the charity had total reserves of £119,976 (2022:£207,922). Of these reserves £18,497 are restricted funds (2022:£15,239). The designated funds are £20,000 (2022: £nil) and the free reserves of the charity are £81,479 (2022: £192,683).

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 operation for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details 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 its four main strategic strands: Artistic Development, Training and Development, Community Support and Science Engagement.

Artistic Development

To 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.

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. The Trustees plan to double the amount available to distribute through the Community Grants Fund from 2024, ring-fencing £20,000 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 2023

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 Mr D Langford, Trustee (Appointed 25 May 2023)

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 2023

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: 5 June 2024

Dated:5 June 2024

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 2023.

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

Since the Trust’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:

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: 11 June 2024

GREEN MAN TRUST LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income from:
Donations and legacies
3
142,375
130,560
Investments
4
2,476
-
Total income
144,851
130,560
Expenditure on:
Raising funds
5
55,726
-
Charitable activities
Charitable activities
6
180,329
127,302
Total charitable expenditure
180,329
127,302
Total resources expended
236,055
127,302
Net (expenditure)/income for the year/
Net movement in funds
(91,204)
3,258
Fund balances at 1 January 2023
192,683
15,239
Fund balances at 31 December 2023
101,479
18,497		 Total
2023
£
272,935
2,476
275,411
55,726
307,631
307,631
363,357
(87,946)
207,922
119,976		 Total
2022
£
224,413
695
225,108
49,785
231,238
231,238
281,023
(55,915)
263,837
207,922

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 2023

Notes
Current assets
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within one
year
13
Net current assets
Income funds
Restricted funds
16
Unrestricted funds
Designated funds
17
General unrestricted funds		 2023
£
17,000
135,332
152,332
(32,356)
20,000
81,479		 £
119,976
18,497
101,479
119,976		 2022
£
740
220,433
221,173
(13,251)
-
192,683		 £
207,922
15,239
192,683
207,922

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 2023.

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 5 June 2024

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 2023

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.

Designated funds have been chosen by the trustees to be used for grant applications which will be paid away in the next financial year.

Restricted funds are subject to specific conditions by donors or grantors 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.

Donated goods are included in income at a valuation which is an estimate of the financial cost borne by the donor where such cost is quantifiable and measurable.

GREEN MAN TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

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 2023

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
2023
2023
£
£
Donations and gifts
142,375
46,273
Grants receivable for core activities
-
84,287
142,375
130,560
For the year ended 31 December 2022
78,142
146,271		 Total
2023
£
188,648
84,287
272,935		 Total
2022
£
147,977
76,436
224,413
224,413

GREEN MAN TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

4 Investments

Unrestricted
funds
2023
£
Interest receivable
2,476
Raising funds
Unrestricted
funds
2023
£
Fundraising and publicity
Seeking donations, grants and legacies
5,181
Staff costs
50,545
Fundraising and publicity
55,726
55,726		 Total
2022
£
695
Total
2022
£
14,722
35,063
49,785
49,785

5 Raising funds

GREEN MAN TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

6 Charitable activities

Charitable Charitable
activities activities
2023 2022
£ £
Staff costs 11,000 6,523
Visual Arts Programme 32,358 31,827
Fundraising Activities 76,000 -
Repairs & Maintenance 54 249
Performing Arts Programme 76,792 64,852
IT Software and Consumables 1,884 1,326
Music Development Programme 45,294 42,537
Advertising and Marketing 2,943 11,096
Bank fees 60 169
Accountancy 2,520 2,160
Professional fees 13 13
Training Programme 31,145 47,145
Science Engagement 11,181 17,831
Staff training 1,080 -
Other charitable expenditure 573 1,010
292,897 226,738
Grant funding of activities (see note 7) 13,179 3,000
Share of governance costs (see note 8) 1,555 1,500
307,631 231,238
Analysis by fund
Unrestricted funds 180,329 100,206
Restricted funds 127,302 131,032
307,631 231,238

GREEN MAN TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

7 Grants payable

Grants to institutions:
Ukraine Trauma First Aid Project Appeal
Choose Love
Cancer Research - Glioblastoma
Crickhowell Volunteer Bureau
The Windfall Centre
Friends of Church of St Tetti
Priory CIW School
Llangattock Community Woodlands
Llangattock Litter Pickers Group (LLP)
Llangorse Community Toilets CIO
Crickhowell RFC
Grants to individuals		 2023
£
-
-
1,000
2,000
2,000
2,000
1,895
1,400
884
500
500
12,179
1,000
13,179		 2023
£
2,000
1,000
-
-
-
-
-
-
-
-
-
3,000
-
3,000

8 Support costs

Support costs
Support costs
Governance
costs
£
£
Independent Examiners' fees
-
1,555
-
1,555
Analysed between
Charitable activities
-
1,555		 2023
£
1,555
1,555
1,555		 2022
£
1,500
1,500
1,500

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 £2,520 (2022:£2,160).

9 Trustees

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

GREEN MAN TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

10 Employees

The average monthly number of employees during the year was:

2023 2022
Number Number
2 2
Employment costs 2023 2022
£ £
Wages and salaries 60,324 40,476
Other pension costs 1,221 1,110
61,545 41,586

There were no employees whose annual remuneration was more than £60,000.

11 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

12 Debtors

12
Debtors
Amounts falling due within one year:
Trade debtors
13
Creditors: amounts falling due within one year
Notes
Other taxation and social security
Deferred income
14
Trade creditors
Other creditors
Accruals and deferred income		 2023
£
17,000
2023
£
772
27,000
1,109
-
3,475
32,356		 2022
£
740
2022
£
944
4,786
2,565
216
4,740
13,251

GREEN MAN TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

14 Deferred income

Arising from 2024 Programmes
Movement in the year
At 1 January 2023
Amount released to income earned from charitable activities
Amount deferred in the year
At 31 December 2023		 2023
£
27,000
2023
£
4,786
(4,786)
27,000
27,000		 2022
£
4,786
2022
£
-
-
4,786
4,786

Deferred income relates to income received in the year specifically relating to 2024 programmes.

15 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 £1,221 (2022 - £1,110). As at 31 December 2023, there was a pension payable liability of £nil (2022 - £216).

GREEN MAN TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

16 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

Movement in funds Movement in funds
Balance at 1 Incoming Resources Balance at 31
January 2023 resources expended December 2023
£ £ £ £
Visual Arts - 28,535 (28,535) -
Music Development - 21,117 (21,117) -
Training & Development Programmes Fund 3,771 31,700 (31,700) 3,771
Einstein's Garden Fund 11,468 5,000 (1,742) 14,726
Performing Arts - 44,208 (44,208) -
15,239 130,560 (127,302) 18,497
Prior Year 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

GREEN MAN TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

16 Restricted funds

(Continued)

Restricted funds

Restricted funds totalled £130,560 in 2023.

Arts Council of Wales Lottery Project Grants: £77,989 towards Arts Development projects, allocated as follows:

Ashley Family Foundation (via Community Foundation Wales) – £10,000 towards Media Training & Development

Welsh Broadcasting Trust – £7,200 towards Media Training & Development programme

University of South Wales - £3,500 was awarded towards Media Training & Development programme

– Cardiff University £11,000 towards Media Training & Development Placements programme

PRS Foundation - £9,573 towards Music Development programme

Miller Research - £5,000 towards Science Engagement programme

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 2023

17 Unrestricted funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Balance at 1 Incoming Resources Transfers Balance at 31
January 2023 resources expended December 2023
£ £ £ £ £
Community Grants Fund - - (11,179) 31,179 20,000
General funds 192,683 144,851 (224,876) (31,179) 81,479
192,683 144,851 (236,055) - 101,479
Previous year: Balance at 1 Incoming Resources Transfers Balance at 31
January 2022 resources expended December 2022
£ £ £ £ £
General funds 263,837 78,837 (149,991) - 192,683

The trustees have designated these funds to be used for grant applications which will be paid away in the next financial year.

18 Analysis of net assets between funds

Unrestricted
funds
Restricted
funds
£
£
Fund balances at 31 December 2023 are represented by:
Current assets/(liabilities)
101,479
18,497
101,479
18,497
Prior Year
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
£
119,976
119,976
Total
£
207,922
207,922

GREEN MAN TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

19 Related party transactions

During the year there were expenses incurred from Plantpot Limited of £2,336 (2022:£1,495) and £nil (2022: £249) from Green Man Festival. At the year end £nil (2022:£nil) was due to Plantpot Limited and £nil (2022:£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 £14,663 (2022: £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. Green Man Festival, connected through common control, donated festival tickets worth £76,000 (2022: £nil).