2022-03-31-accounts - Freedom Festival Arts Trust

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			Page
Reference and Administrative		Details
Report ofthe Trustees			2 to	9
Independent examiners	report		10
Statement ofFinancial	Activities
Balance Sheet			12
Cash Flow Statement			13
Notes tothe Cash Flow Statement			14
Notes to the Financial Statements			15 to	23

TRUSTEES		JG P Meehan
		KA A Okra
		SMadden
		N Porteus
		K Denby (Chair)
		B M McKnight (resigned			16.6.2021)
		Cllr D Craker (resigned			16.6.2021)
		M Relph (resigned		12.05.22)
		SA Christopher
		P M Dalby
		DJ Keel
		BRichardson (resigned			12.05.22)
		R Rosemary Pantelakis			(appointed	16.6.2021, resigned
		19.05.22)
		G Taylor (appointed		08.06.22)
		R Pritchard (appointed 04.10.22)
REGISTERED	OFFICE	Room 905
		Floor 9,44 Bond	Street
		Hull
		East Yorkshire
		HU1 3EN
REGISTERED	COMPANY	08530799(England		and Wales)
NUMBER
REGISTERED	CHARITY	1158439
NUMBER
INDEPENDENT	EXAMINERS	Smailes Goldie
		Chartered Accountants
		Regent's Court
		Princess Street
		Hull
		East Yorkshire
		HU2 8BA
BANKERS		The Co-operative P0Box250	Bank		pic
		Skelmersdale
		Lancashire
		WN8 6WT
SOLICITORS		Rollits LLP
		Citadel House
		58 High Street
		Hull
		HU1 IQE

							2022	2021
				Unrestricted	Designated	Restricted	Total	Total
			Notes	fund 8	fundf	funds F	funds 6	funds F
INCOME AND
ENDOWMENTS	FROM
Donations and legacies			3	32,826		35,667	68,493	53,991
Charitable activities
Artistic Activities						321,007	321,007	243,027
James Reckitt Library Trust						112	112	53
Core Costs				464,350			464,350	286,499
The Vigil						61,426	61,426	34,211
Total				497,176		418,212	915,388	617,781
EXPENDITURE	ON
Charitable activities			5
Artistic Activities						397,033	397,033	70,495
James Reckitt Library Trust						12,020	12,020	9,993
Core Costs				341,434			341,434	284,874
The Vigil						36,059	36,059	38,257
Total				341,434		445,112	786,546	403,619
NET
INCOME/(EXPENDITURE)				155,742		(26,900)	128,842	214,162
Transfers between		funds	16	61
Net movement	in funds			155,803		(26,961)	128,842	214,162
RECONCILIATION		OF
FUNDS
Total funds brought
forward				150,671	85,000	233,955	469,626	255,464
TOTAL FUNDS	CARRIED			306,474	85,000	206,994	598,468	469,626
FORWARD

Balance Sheet 31stMarch 2022
		2022	2021
	Notes	6
FIXEDASSETS
Tangible assets	12	2,364	3,458
CURRENT ASSETS
Debtors	13	110,274	33,687
Cash at bank		676,954	540,020
		787,228	573,707
CREDITORS
Amounts falling due within one year	14	(191,124)	(107,539)
NET CURRENT ASSETS		596,104	466,168
TOTAL ASSETSLESSCURRENT
LIABILITIES		598,468	469,626
NET ASSETS		598,488	469,626
FUNDS	16
Unrestricted funds		398,650	235,671
Restricted funds		199,818	233,955
TOTAL FUNDS		598,468	469,626

for the year ende	d 31stM	arch 2022
			2022	2021
		Notes		E
Cash flows from operating activities Cash generated from operations 1			~137600	~249 113
Net cash provided	by operating activities		~137600	~249 113
Cash flows from	investing	activities
Purchase oftangible fixed assets			(666)	(4,134)
Sale oftangible fixed assets				292
Net cash used in	investing activities		~666)	~3,842)
Change in cash	and cash	equivalents
in the reporting	period		136,934	245,271
Cash and cash equivalents		at the
beginning ofthe	reporting	period	540,020	294,749
Cash and cash equivalents		at the end
ofthe reporting	period		I 676 954	540,020

	RECONCILIATION ACTIVITIES	OF NE	T I	NCOME/(EXPE	NDITURE) TO	NET CASH	FLOW FROM	OPERATING
							2022	2021
							E	E
	Net income/(expenditure)		for the reporting		period (as per	the
	Statement ofFinancial Activities)						128,842	214,162
	Adjustments for:
	Depreciation charges						1,760	2,341
	(Increase)/decrease	in debtors					(76,587)	7,044
	Increase/(decrease)	in creditors					~83585	25,566
	Net cash provided	by/(used		in) operations			137,600	249,113
2.	ANALYSIS OF CHANGES		IN	NET FUNDS
					At	1.04.21	Cash flow	At 31.03.22
							K	5
	Net cash
	Cash at bank				540,020		136,934	~676954
					540 020		136,934	676,954
	Total				540,020		136,934	676,954

DONATIO	NS AND LEGACIES
				2022	2021
		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
		6			E
Sponsorship			35,667	35,667	53,500
Donations	and gifts	32,826		32,826	491
		32,826	35,667	68,493	53,991
INCOME	FROM CHARITABLE ACTIVITIES
				James
				Reckitt
			Artistic	Library	Core
			Activities	Trust	Costs
					E
Grants received			321,007		440,273
Ticket sales					19,520
Festival concessions					4,490
Other income				112	67
			321,007	112	464,350
				2022	2021
				Total	Total
			The Vigil	activities	activities
				8
Grants received			61,426	822,706	560,141
Ticket sales				19,520
Festival concessions				4,490	894
Other income				179	2,755
			61,426	846,895	563,790

						Direct	Direct	Support
						Costs	(see	costs (see
						note 6)		note 7) f	Totals
	Artistic Activities					397,033			397,033
	James Reckitt Library		Trust			12,020			12,020
	Core Costs					338,549		2,885	341,434
	The Vigil					36,059			36,059
						783,661		2,885	786,546
6.	DIRECT COSTS OF CHARITABLE				ACTIVITIES
								2022	2021
								6
	Staff costs							208,712	160,770
	Rent and rates							7,022	5,790
	Insurance							4,418	4,552
	Telephone							372	1,006
	Sundries							4,793
	Festival and	workshop	content					480,471	120,165
	Advertising	and marketing						41,539	64,044
	Recruitment	expenses							1,550
	Travel and entertaining							4,326	(441)
	Post and stationery							1,536	2,513
	Computer costs							3,721	3,057
	Subscriptions							482	2,420
	Repairs and	renewals
	Training							294	3,909
	Project management Depreciation		and	consultancy	costs			24,215 ~1760	~2341
								783,661	391,696
7.	SUPPORT	COSTS
								Governance
						Finance		costs	Totals
						6
	Core Costs						635	2,250	2,885
	Governance	costs are as follows:
								2022	2021
								6	f
	Auditors' remuneration								6,240
	Independent	examiners'		fee				2,250
								2,250	11,218

Net incom	e/(expenditure) is stated a	fter charging/(crediting):
			2022	2021
			K	8
Depreciation -owned assets			1,760	2,341
Amounts	payable to the independent	examiner	2,250
Amounts	payable to the auditor			6,240

		2022	2021
		K	K
Wages	and salaries	189,735	164,135
Social Other	security costs pension costs	14,706 ~4271	12,625 4,010
		208,712	180,770

								2022	2021
	Average number		ofemployees					6	5
	No employees	received emoluments			in excess off60,000.
11.	COMPARATIVES		FOR THE STATEMENT			OF FINANCIAL	ACTIVITIES	(FINANCIAL	YEAR 2021)
						Unrestricted	Designated	Restricted	Total
						fund	fund	funds	funds
						K	8	8	8
	INCOME AND	ENDOWMENTS		FROM
	Donations and	legacies				491		53,500	53,991
	Charitable activities
	Artistic Activities							243,027	243,027
	James Reckitt	Library Trust						53	53
	Core Costs					286,499			286,499
	The Vigil							34,211	34,211
	Total					286,990		330,791	617,781

COMPARATIVES F -continued		OR THE STATEMENT	OF FINANCIAL	ACTIVITIES (	FINANCIAL Y	EAR 2021)
EXPENDITURE ON
			Unrestricted	Designated	Restricted	Total
			fund	fund	funds	funds
			F	F	E
Charitable activities
Artistic Activities					70,495	70,495
James Reckitt Library Trust					9,993	9,993
Core Costs			284,874			284,874
The Vigil					38,257	38,257
Total			284,874		118,745	403,619
NET INCOME/(EXPENDITURE)			2,116		212,046	214,162
Transfers between		funds	~31887)	31,887
Net movement in funds			(29,771)	31,887	212,046	214,162
RECONCILIATION	OF FUNDS
Total funds brought		forward	180,442	53,113	21,909	255,464
TOTAL FUNDS CARRIED FORWARD			150,671	85,000	233,955	469,626
TANGIBLE FIXEDASSETS
						Fixtures
						and
						fittings
						E
COST
At 1st April 2021						8,325
Additions						866
Disposals						(1,553377)
At 31st March 2022						7,454
DEPRECIATION
At 1st April 2021						4,867
Charge for year						1,760
Disposals						(1,537)
At 31st March 2022						5,090
NET BOOK VALUE
At 31st March 2022						2,364
At 31st March 2021						3,458

13.	DEBTORS:AMOUNTS	DEBTORS:AMOUNTS	FALLING DUE WITHIN ONE YEAR	FALLING DUE WITHIN ONE YEAR
					2022 8	2021 f
	Sponsorship					480
	Other debtors				66	625
	VAT					5,765
	Prepayments				110,208	26,817
					1~10274	33,687
14.	CREDITORS: AMOUNTS			FALLING DUE WITHIN ONE YEAR
					2022	2021
					6	E
	Trade creditors				89,351	483
	Other creditors				31,129	30,393
	VAT				26,452
	Accruals and deferred		income		44,192	76,663
					191,124	107,539
	Deferred income				2022	2021
					E
	Deferred income Amounts deferred Amounts released	at 1st April during the period from previous periods			68,250 5,000 12,011 68,250 ~N, 280)~5.Ilpa)
	Deferred income	at 31st March			12,011	68,250

ANALY	SIS OF NET A	SSETS BETWEEN	FUNDS
					2022	2021
		Unrestricted	Designated	Restricted	Total	Total
		fund	fund	fund	funds	funds
		K		6	8	F
Fixed assets		2,364			2,364	3,458
Current	assets	494,631	85,000	207,597	787,228	573,707
Current	liabilities	(191,124)			(191,124)	~107,539)
		305,871	85,000	207,597	598,468	469,626

for th	e year ended	31st March 2022
16.	MOVEMENT	IN FUNDS
				Net	Transfers
				movement	between	At
			At 1.04.21 K	in funds F	funds f	31.03.22 E
	Unrestricted	funds
	General fund		150,671	162,918	61	313,650
	Designated fund		85,000			85,000
			235,671	162,918	61	398,650
	Restricted funds
	Artistic Activities		113,702	(28,456)		85,246
	James Reckitt Library Trust		11,969	(11,908)	(61)
	The Vigil		(4,046)	25,367		21,321
	IN-SITU		112,330	@19,079)		93,251
			233,955	~34,076	~61	199,818
	TOTALFUNDS		469,626	128,842		598,468
	Net movement	in funds, included	in the above are as follows:
				Incoming	Resources	Movement
				resources	expended	in funds
				E	E	F
	Unrestricted	funds
	General fund			497,176	341,434	155,742
	Restricted funds
	Artistic Activities			350,800	372,080	(21,280)
	James Reckitt Library Trust			112	12,020	(11,908)
	IN-SITU			5,874	24,953	(19,079)
	The Vigil			61,426	36,059	25,367
				418,212	445,112	(26,900)
	TOTAL FUNDS			915,388	786,546	128,842