2024-03-31-accounts

mailes Goldie CHARTEREO ACCOUNTANTS REGISTERED COMPANY NUMBER.. 08530799 REGISTERED CHARITY NUMBER: 1158439 Freedom Festival Arts Trust Financial Statements 31 March 2024 SN216675-1-6 INJlWI¢ ICAEW CHARTERED ACCOUNTANTS

Freedom Festival Arts Trust Contents of the Financial Statements for the year ended 31st March 2024 Page Rofarence and Admlnistrative Detalls Report of the Trusteas 2 to 10 Independent •xaminors report 11 Statement of Flnancial Activities 12 Balance Sheet 13 Cash Flow Statement 14 Notos to the Cash Flow Statement 15 Not08 to the Flnanclal Statements 16to 24

Freedom Festival Arts Trust Reference and Admlnlstratlve Detalls for th• year ended 31st March 2024 TRUSTEES S Friend (Resigned 2610412024) N Porteus K Denby (Chair) S A Christopher P M Dalby D J Keel (Resigned 13112123) G Taylor R Pritchard L Alford (Appointed 2719123) K Hall (Appointed 13112123) REGISTERED OFFICE Suite 9, Bond 31 42143 High Street Hull HU1 1PS REGISTERED COMPANY NUMBER: 085307991England and Wales) REGISTERED CHARITY NUMBER: 1158439 {England and Wale3) INDEPENDENT EXAMINERS Smalles Goldie Chartered Accountants Regent's Court Princess Street Hull East Yorkshire HU2 8BA BANKERS The Co-operative Bank plc POBox250 Skelmersdale Lancashire WN8 6WT SOLICITORS Rollits LLP Citadel House 58 High Street Hull HU1 1QE continued...

Freedom Festival Arts Trust Report of the Trustees for thè year end•d 31st March 2024 The Trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 st March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice {SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) published in October 2019. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing Document The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. The charitable company's Memorandum and Articles of Association are its primary governing documents. The board currenily consists of eight trustees and is chaired by Kate Denby and Karen Hall. The full list of trustees is set out in the reference details. The full Board of Trustees met four times in the period on the dates as listed.. Board Meeting Dales from 1 April 2023 to 31 March 2024 th 14 June 2023 2fh September 2023 13 December 2023 26 March 2024 The trustees act on advice and information from the Senior Management Team which is responsible for the day-to-day management of the charity. Recrultment, Appolntment, Induction. And Tralning of New Trust•g8 All Truslees are appointed for a fixed lerm of four years and, at the end of this term, may be re-appointed for another fixed tem of four years, after which they must step down. This has been reduced from a previous term of five years. When recruitment becomes necessary. opportunities will be advertised via appropriate media. Induction and training will be provided. The charity continues to refresh the board of Trustees, and this year saw the recruitment of two new trustees Karen Hall and Louise Alford, and the resignation of two Trustees - David Keel and Samantha Madden Portfolio Responsibilitles The eight trustees bring specialisms and experience from all areas of business and the arts which they use to support all areas of the company's activities and in line with a smaller scale company. There is also a Finance Commitlee which consists of three Iruslees and is chaired by Neil Porleus. The committee also reviews the annual budget, receives the audit report, appoints the financial service providers, and oversees financial control. Karen Hall (chair) Trish Dalby (Deputy) Garry Taylor Neil Porteus Cllr Rob Pritchard Kate Denby Sally Christopher Louise Alford David Keel Samantha Madden 50Yo 112 meetings 1000/0 414 meetings 100¥0 414 meetings 1 OOY. 414 meetings 50Q/o 214 meetings 100 % 414 meetings 50°/ W4 meetings 66 /. 213 meetings 00/0 013 meetings 50 % 214 meeting5 continued...

Freedorn Festival Arts Trust Report of the Trustees for the year ended 31st March 2024 Company Management Structure The company is led on a day-to-day baolo by thc CEO & Artistic Director (Mikey Martins) and a Senior Management Teem, conJioting of Jo Hawkes (General Manager) and lan Morley (ProdLICAir) and our Finance Manager Pay and remuneration of the key management personnel is initially set by the Board of Trustees with reference to the company pay ucalc:. market condition8 and sector salaries. OBJECTIVES AND ACTIVITIES Objécts, Aims and Objectiv The objects of the Charity are to advance the education of the public in the arts and in particular the arts of performan￿, music, drama, poetry reading, sculpture, painting, handicrafts and all other associated arts" and to encourage public participation in the said arts by the presenlation of COn￿rtS. perfOrman￿S, exhibitions and festivals in the City of Kingston upon Hull ("the City") and its environs induding, but not limited to events which celebrate the history of the City induding its contribution to the abolition of slavery through the pioneering work of Hull-born William Wilberforce- provided that the promolion of such events is undertaken solely for the benefit of the public., and such other charitable purposes beneficial to the community consistent with the objects above as th8 Trustees shall in their absolute discretion determlne. Core Purpose Freedom Festival Arts Trust {FFAT) has delivered Freedom Festival and numerous other activities since its formation in 2013. As custodians of the city's annual award-winning, free-to-access international arts festival (Freedom Festival) and an expanding year-round programme of work which includes artistic delivery, workshops, talks, symposia, audien￿ engagement. lalent development, health & wellbeing and the commissioning of new, bold and relevant work, FFAT continues to evidence a significant impact upon the social, cultural and economic vitality of the city and the global sector. We belleve that arts <irid Lullurv ￿11 Lje a catalyst for long-term transformation of pcoplc and place, connecting communities, building civic pride, raising aspirations, positive economic impact and conlributing towards a society in which people may prosper, where communities matter and where creativity thrives. Publlc Benefit The Trustees have reviewed the current activities of the charitable company and confirmed that they are in line with its objectives. All the activities of the organisation carried out during the period are in pursuance of the company's aims and objectives. The trustees also confirm that Ihe organisation's aims and objectives fall within the'descriptions of purposes" in the Charities Act 2011 and are recognised as charitable and are carried out for the public benefil. Relat•d Parties and Co-operation with Other Organisations The Trustees are not remunerated and re￿1ve no other benefit from their work with the charity. Any connection between a Trustee or senior manager of the charity with business partners, sponsors or suppliers is disclosed to th6 full board of truslees in the same way as any other contractual relationship with a related party. Strategic Report The Board of Trustees is responsible for the strategic direction of the charity. The Trustees delegate authority for all daY-t￿daY management of the company affairs to the Senior Management Team led by the CEO & Artistic Director. Both Board and Management are committed to maintaining constructive dialogue with other key stakeholders. engaging regularly to understand their perspectives. The Trustees, primary responsibility is to promote the long-term success of the company through facilitating cultural events which enriches the lives of the people of Hull. The Trustees, along with the CEO & Artistic Direct and Finance Manager, annually review the budget and artistic policy & programme and monitor the implementation and performance of these throughout the year. There are considerations to external factors such as the economic and political conditions in relation to the arts in general, competition for grants from trusts and foundations and the lasting impact of global pandemic and the cost-of-living crisis impacting on our audience's ability to access activity. They take the reputation of the company seriously, which Is not limited to operating and financial performance, and have committed to diversity and inclusivity across the continued...

Freedom Festival Arts Trust Report of the Trustees for the year endod 31st March 2024 workforce, their own board membership and the artists we engage with. Within our recruitment praCti￿S, we actively promote inclusivity through offering applicants the opportunity to apply via recorded application, to propose alternative working arrangements such asjob share and part-time and encourage interns to help develop their own careers. ACHIEVEMENT AND PERFORMANCE Charitable Activities Cultural organisations have been forced to Ic￿k long and hard at outputs and their place within the communities they are in, and the value they provide within the social challenges created by the cost-of- living crisis. The Arts Council England (ACE) Lets Create Strategy stated outcomes of Creative People, Cultural Communities and Creative & Cultural Country have never seemed more relevant as a working framework for the sector. The introduction of the four Investment Principles (IP) by ACE are interwoven inlo our activities and strategy, promising a positive and rewarding development area. The four IPS are Indusivity & Relevant, Ambition & Quality, Dynamism and Environmental Responsibility. In April 2023 Freedom Festival cornmen￿d a three-year ACE Natlonal revenue funding period. We were delighted to be successful and have retained our position as a National Portfolio Organisation (NPO) untll March 2026. Organ18ational Trustee recruitment- the board are In the process of undertaking a skills audit to identify areas where they could be strengthened allowing a more targeted approach to trustee recruitment to be implemented with diversity and inclusivity prioritised as key to a balanced board. The board are also in the process of transitioning over to a new board chair, with Karen Hall taking over the Chair position from Kate Denby, who will be leaving the board in autumn 2024. The Artistic DirectorlCEO announced his departure for April 2024, and a new Festival Directorwill be sought with the support of the Board. A Board Away Day in March 2024 focused on the job role and recruitment of the new Festival Director. Recruitment took place for a new PrOdu￿r to join the team on the departure of our previous produ￿r. A new role of engagement Producer was also created and recruited. The organisation strives to work as a city-wide facilitator aligning creativity, imagination, expertise. and networks with partner organisations in Hull and beyond. We work with others who share our ambition such as local councils, businesses, universities, schools, NHS and fellow arts and culture organisalions to maximise our impact and achieve things we cannot do alone. As part of Cultural Collisions (a group of local arts organisations who receive regular ACE funding), we work in partnership with other key cultural organisations and nurture smaller organisations and freelancers through commissioning and specific projects. In 2007, Freedom Festival began as part of the bI￿ntennIal commemorations of the first anti-slavery act in Parliament, and as a way of celebrating one of the cily's most important politicians and his work within the abolitionist movement, William Wilberforce. Over the years we helped deliver on the promise of the 2017 City of Culture and continue to upload that legacy by nurturing home-grown talent and bringing world dass performers to Hull each year. We bring thousands of people together through our annual festival and year-round artistic and creative programme of performances, installations, talent development and targeted participatory work to excile, inspire, challenge, empower and provoke. We ￿lebrate Hull's independent spirit and extraordinary heritage working closely with artists. creative organisations, Ihe private sector, academic partners, third sector organisations, families, individuals. and community groups to deliver year-round creative activity and a worfd-class annual arts festival. From epic spectaculars unfolding in public spa￿S to intimate moments where audiences and artists meet, we create, curate, and deliver eX￿ptIOnal large-scale events and international renowned cultural programmes which bring thousands of people together each year to experience the joy of shared cultural encounters, creating a real sense of community. continued...

Freedom Festival Arts Trust Report of the Trustees for the year ended 31st March 2024 Outside of our festival programmes, we are committed to talent development and innovative participatory projects with a focus on work that raiseg 8warenesg of relcvant VJocial I￿ in our local communities, particularly with children 8nd young pcoplc. The concept of Freedom threads through all our work: we are a unique Arts Festival platform which aims to entertain, delight, raise awareness and affect positive change, making Freedom Festival more than just a name and cerlainly not like 8ny other festival in thc world. Highllghts Freedom Festival 2023 Wednesday 30th August - Sunday 3rd September 2023 Our annual summer flagship event - Freedom Festival took place throughout the streets of Hull, reimagining familiar spaces with an extraordinary programme of national and international work, intricately weaving moments of joy, wonder and contemplation. We reconnect local people to their city. The team delivered a 5-day festival-with a combination of free lickets, limited capacity events and a widely accessible online programme 8nd talks programme running alongside the live events. We estimate the festival had an economic impact of £2M to the city of Hull. The festival included.. 11 exhibitions 5 new commissions 270 artists 36 companies 136 events 25 workshops 741 participants Over 92,000 people attended the live festival events. Over 3000 people viewed online events. 86 volunteers supported us during the festival. Freedom on Tour For the firsl time we took Freedom Festival to East Riding, bringing two of our shows to Bridlington beach for the day, in partnership with East Riding of Yorkshire Council. It has always been our plan to expand the reach of the festival, and this was the perfect opportunily to do so. Over 2000 people came to see these PerforMan￿S and we plan to repeat the "On Tour" programme in 2024. L cal and National W rkin We are a member of Global Streets, a 12-partner national network that co-creates & presents international outdoor arts events with communities living and working in places which are underserved by the arts. Since 2015, the 12 partners, including Freedom Festival Arts Trust, has brought 220+ performances to high streets and public spaces across England. We remain a member of Cultural Collisions, Hull's arts sector network which plays an important role in bringing together the lar9er cultural organisations in the city for purposes of advocacy and data-sharing. as well as to contribute to citywide arts marketing and explore opportunities for other joint projects. We continue to work with local partners and organisations embedded in Hull's cultural and s(xial communities, including Beats Bus, Hull Truck Thealre, Warren Youth Project, Hull Museums and Hull Music Service. International Workin We are members of the In Situ European-wide project, funded by the European Commission. enabling us to programme and commission work and deliver artisl exchanges, high quality artist development programmes and collaborations amongst other things. This is one of the most significant European large collaboration projects and is vital to the outdoor arts sector in the UK. We are also increasingly recognised and supported indirectly by cultural embassies and institutions such as Institut Ramon Llull (Catalonia, Spain), Fonds Podium Kunsten (Netherlands), Circuscentrum (Belgium) continued...

Freedom Festival Arts Trust Report of the Trustees for the year ènded 31st March 2024 and Australia Council for the Arts (Australia). These relationships help to reduce the costs of welcoming international companies and strengthen our reputation internationally as an event to be 'seen at, by other arts professionals and festival programmers. The British Council support us to fi'nd new ways of connecting with international partners and to better understand each other through the arts. They work hard to assist the building of creative and collaborative global communities thal inspire innovation, knowledge. prosperity and pea￿. The conneclions they support and build through art5 and culture transform lives and create positive change. For Freedom Festival 2023. we worked with 36 different artistic companies, of which 12 were international, including artists from Sudan, Somalia, Syria, Ethiopia, Ukraine, Belgium, France, Spain and the Netherlands. We will continue to nurture these relationships and to build new ones for presentation of works in Freedom Festival 2024 Freedom Talks In partnership with the University of Hull, historians and journalists from the Guardian's Cotton Capital series, Insitu Nelwork partners, Circuscentrum, and Outdoor Arts UK, we delivered Freedom Talks 2023. The Freedom Talks (formally the Symposium) were presented in nine sessions over four days from the 31" August to the 3 September. These talks were aimed at anyone inlerested in arts-based research, innovative creative practices impacting health and well-being, impact of art in public space and how socially driven practice makes a difference in modern-day society. Commissions We commission new and innovative work from the UK and through our wider global networks. We support the growth of creative ideas and are commilted to art innovation in a public space. We encourage and support new approaches, practices and tools. In 2023124 we presented four new commissions, with more in development stage to be presented at a later date. These commissions include.. Tomormw by Freedom Women Collective with support from IWM. KELI by Martin Green & Emma Rice with Lepus Productions (UK) with support from Creative Scotland. Beautifvl Bones by Surge (UK), with support from Glasgow Lrfe and Spraoi Artist's Studios. Invisible City by Via Berlin (NL), co-commissioned with Hull Truck Theatre and supported by the British Council and University of Hull. rtic atio We develop and commission programmes that embed local people in internationally significant work. We aim to encourage and engage predominanlly children and young people from hard-to-reach communities in the arts Ihrough participatory projects. In 2023-24, we had four parlicipatory programmes with 483 programme participants, totalling 3200 hours of rehearsal and performance time. 86 % of all participants reported that they felt more confident, more likely to gel involved in further projects in the community and greater sense of community. E ualit an Dlv We have created an Access Focus Group, made up of colleagues such as Gig Buddies, Twice as Nice, Disability Arts Network (DAN) and people with lived experience, such as people from our volunteer cohort or people who fed back to us about their access experience. 990/0 of shows and venues were ac￿Ssible for wheelchairs during FF23, with 14 audio-described and 12 BSL-supported perfomiances. Inclusivity and relevan￿ continues to be a strong driver for our activities - we continue on focusing on expanding our aUdien￿S, measuring impact through evaluation. We also continue with our Associate Citizen5 programme, ensuring input from a wide range of people outside of the arts sector. continued...

Freedom Festival Arts Trust Report of the Trustees for the year ended 31st March 2024 There is an understanding of the importance our employccJ play in thc longcr-term SUGce88 of the charity. The company regularly communicates with its ￿nployeeS through weekly whole team meetings, appraisal cycles, and organisational wide e-mails. We take on interns interested in working in the arts through our partnership with the University of Hull. This enables young people and early career starters to experience first-hand the workings behind a suc￿sSful international festival and give them valuable work experien￿. We work with local skills development networks and the local volunteer programme using volunteers to help support us during festivals, with 86 volunteers working 886 volunteer hours in 2023-24. Fundin Partners As a charity, the company's funding partners are significant stakeholders. Relationships with these partners are held at all levels across both the company and the funding partner's organisation, ensuring they are fully conversant with the planned programme, the impact on grant funding and the impact on the communily at large. The company's major stakeholder is Arts Council England, and they are invited as an observer to the company board meetings and to sit on working groups relating to organisational development and change. During this reporting period we hav8 commen¢e(i our new NPO funding period from April 2023 through to March 2026. Hull Cily Councll's annual sponsorship agreement is a welcome addition to our partnership, and we continue to work with them to develop arts and culture for the residents of Hull, through their support and funding. They also support us with membership on our board of trustees and a member of the Arts Development Team 15 invited as an observer to the board meetings. University of Hull support our work through a long-term partnership offering opportunities to work with studenls and academics through internships, research projects, content co-creation and artist led participatory and residency projects such as Via Berlin's residency as part of Instant Loneliness (presented at Freedom Festival 2023). We collaborate with multiple departments across the university. The Wilberforce Inslitute has been key to our relationship with the university through work relating to the history, systemic legacy and impact of slavery and other modern day social issues. We were fortunate to receive fundlng from the Imperial War Museum's IWM 14-18 NOW Legacy Fund to commission Freedom Women Collective's exhibition: Tom¢xrow, presented at Ferens Art Gallery, Public an Communit at La Our objectives are charitable by their very nature, being established as a Charitable Company. All activity is directed towards being of public benefit. All activity is directed towards being of public benefit and most of the activity is free to aC￿ss. We continue to build partnerships with local schools to encourage participation and engagement with our children in projects where the public can get involved. The team appreciate the importance of our suppliers in delivering the long-term plans of the company, many of which are creative practitioners and rely on the timely payment of invoices to live. The company pays its suppliers via weekly payment to ensure all invoices are paid within a maximum of 30 days from receipt. Environmental As a publicly funded organisation, the team understand they have a moral and social responsibility to our employees and audiences to be environmentally conscious in all our outputs. Environmental responsibility is interwoven into our activity plans, and we report on this to our trustees on a regular ba51S. Our ambitions are to reduce the company's carbon footprint to plan our actions, as well as linking with Oh Nol Net Zero, an initiative developed to help Hull. beoome nct zcro by 2050 to combat Glimate Ghang8. We already have several green initiatives around office working and festival delivery but need to build on further environmentally sustainable activities and procurement policies. This will then aid in setting realistic targets continued...

Freedom Festlval Arts Trust Report of the Trustees for the year ended 31st March 2024 to be agreed and implemented over the short, medium, and long term and will be included in our regular reporting to the board. FINANCIAL REVIEW Financial review Through strong governan￿, effective leadership, and the implementation of robust financial management systems we continue to ensure financial viability across all areas of our work. Key financial principles inform our approach: Stewardship Accountability Transparency Integrity Financial standards Consistency Charftablo Fund8 The charitable company held fund balances at 31 March 2024 of £ 54,110 (2023 £29).452). Reserves policy The reserves policy is to hold 3 months of dose down costs (including redundancy costs) to cover day to day working capital requirements. In financial year 2023124 this amounted to £ 54,000 (2023 £88,584). The Board of Trustees review this policy annually. Flnancial report for the year Much of the charitable company's income is obtained from grants from Arts Council England, sponsorship from the local authority and several local / regional businesses, earned income and donations. Some of these income streams are restricted to specific purposes. These 8mounts are shown as restricted funds in the statement of financial aclivities. During Ihe period, total restricted expenditure of £524,291 (2023 £778,036) was not fully covered by sponsorship, donations, grants, and funds brought forward. The company generated unrestricted income of £322,895 (2023 £363,440) during the period. Golng concern FFAT has been impacted by a number of factors over the course of the last financial year. The economic landscape has significantly changed following the COVID-19 pandemic, with real-term reductions in funding, fewer sponsorship opportunities and ever-increasing pressures on national spending, all of which have resulted in reduced income opportunities for FFAT. Also, Brexit has impacted on the availability of European arts funding and made Ihe costs of bringing European artists to the UK more expensive. In response, FFAT has redU￿d staffing levels and reviewed its expenditure, making savings in many of the administrative functions. FFAT will only commit to a Festival Programme for 2025 thal is supporled by committed income. It is envisaged that the amount available lo spend on the 2025 Festival Programme will be lower than in previous years. but, under its new Festival Director, FFAT aims to be creative in the commissioning of work to ensure that a quality Festival is still delivered. Our reserves policy is to aim to hold three months of operating costs (induding redundancy and close down costs should these be required) at all times. In the financial year 2023124 this amounted to a figure of £54,000 (2022123 £88,584) which was achieved throughout this reporting period. Our financial projections for the 2025126 financial year suggest that it may be difficult to achieve our aim of holding three months of operating costs throughout that year and, as a consequence, our Policy will be kept under regular review, as will the level of our reserve5. We do not expect this difficulty to have a negative impact to our overall future operations and going concern status. continued...

Freedom Festival Arts Trust Report of the Trustees for the year ended 31st March 2024 As FFAT have adequate resources to continue in operational existen￿ for the foreseeable future, the directors have continued to operate the going concern baPItr￿ in preparing th8 financial statements. FUTURE VISION Freedom Festival Arts Trust has been through another challenging year in 2023124 but we proved we 4vere capable. sustainable, and creatively relevant enough to deliver a significant scale festival event including four community participation projects and five new commissions as well as a series of talks and online and digital content. In 2024125 we will look to employ new roles into the core team structure to strengthen our business viability, and expand our work around participatory engagement. We will also welcome the arrival of a new Festival Director. With increased team capacity, we will be in a stronger position to exploit new opportunities in our sector. We will continue to embed our relationships with academic institutions such as the University of Hull in future years bringing the work of the organisation, our associate artists and the academic sector doser together, delivering more opportunities for young people to gel involved in and to learn from the work of the festival alongside our continued working with academics to explore research opportunities with and through our work, connectlng appropriate local, regional, national and International artists. We will continue to commission work locally. regionally, nationally, and internationally through our networks and independently, meaning that our programme of work both at the festival and across the year contain a diverse and excellent array of artists, engagement opportunities for Hull and Humberside citizens and range of partner companies and stakeholders. We will continue to develop our funding partners and diversify our income streams" we will continue to be flexible and responsive to the context which we work in both locally and nationally. This means both deepenlng our current relatlonsliips cirid iiddiiiy iiew oiies. We want to work with partner8 who valuc and understand our work and believe in the city of Hull and wider region as a place which can be more vibrant and can enhance its standing nationally and Internationally. We will need in¢￿aSed support from the private sector and corporate sponsors, as well s individual supporters and donalions to continue our growth and maintain our programmes and we will %vork to build reciprocal relationships to enable shared benefits. We will continue to work closely with our two key funders, Arts Council England, and Hull City Council, as well as remaining closely linked with our international and national networks and partners. We understand that the funding landscape is challenging and have factored in various scenarios to ensure we remain a viable organisalion. continued.

Freedom Festival Arts Trust Report of the Trustees for the year ended 31st March 2024 STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees (who are also the directors of Freedom Festival Arts Trust for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi￿). 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to-. select suitable accounting policies and then apply them consistently,. observe the methods and principles in the Charity SORP., make judgements and estimates that are reasonable and prudent,. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with Ihe Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable step5 for the prevention and detection of fraud and other irregularities. This report has been prepared taking advantage of the small companies exemption under the Companies Act 2006. This report was approved by the Board on by: 2024 and signed on its behalf glllnod by., 12/21/2024 A3cAgAT%￿03￿7c 10 continued...

Freedom Festlval Arts Trust Independent Examiners, report to the trustees of Freedom Festival Arts Trust I report to the charity tru8tee8 on my cxamination of thc accounts of th8 company for the year ended 31 March 2024 which are set out on pages twelve to twenty-five. Responsibilitles and basis of report As the charity trustees of the company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the company are not required to be 8LJdited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company's accoLJnts as carried out under section 145 of the Charities Act 2011 {'the 2011 Act,). In carrying out my examination I have followed the directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Indepèndont •xamlnerfs 8tat•ment Since the company's gross income exceeded £250,000 your examiner must be a member of body listed in section 145 ofthe 2011 Act. I confirm thal l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants of England and Wales), which is one of the listed bodies. I have completed my examination. I confirm that no malters have corne to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the company as required by section 386 of the 2006 AGI.. ur 2. the accounts do not accord with those records. or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement thal the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination., or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed: Luke Taylor Bsc (Hons) ACA for and on behalf of Smalles Goldie Chartered Accountants Regent's Court Prin￿SS Street Hull HU2 8BA l31il /LDL4 11 continued...

Freedom Festival Arts Trust Statement of Financial Activltles for the year Ended 31 March 2024 Unrestricted tlesl8nated Restricted 2024 2023 Notes INCOME & ENDOWMENT5 FROM Donations & legacies 80,580 80.580 86.942 Charitable Actlvlties Artistic Activities Core Costs The Vigil 235,955 235,955 322,895 341,008 361,498 12,011 801,459 322,895 Total 322,895 316,535 639,430 EXPENDITURE ON Charltable Activities Artistic ActivStles Core Costs The Vigil 492,066 492,066 351,481 32,225 875,772 745,811 331,439 32,225 1,109,475 351.481 32,225 524,291 Total 351.481 NET INCOME / (EXPENDITURE) 128.586) 0 1207.756) 1236,342) (308,0161 Transfers between funds 17 1128.096) (21,2401 149,336 Net movement In funds 1156.6821 IZI,Z401 158,420) (236.342) 1308.016} RECONCILIATON OF FUNDS Total funds brought forward 156,682 75.350 58,420 290,452 598,468 TOTAL FUNDS CARRIED FORWARD 17 54.110 54,110 290,452 CONTINUING OPERATIONS All income and expenditure has arisen from continuing activities. 12 continued...

Freedom Festival Arts Trust Balance Sheat 31st March 2024 Registered Company Number: 08530799 2024 2023 Notes FIXED ASSErs Tanglble a55ets 12 1,404 3.290 CURRENT ASSErs stocks Debtors Cash at bank & in hand 813 34,831 50,914 1.355 213,191 184,752 14 86,558 399,298 CREDITORS Amounts failing due wlthon one year 15 (33,853) 1112,136) NEf CURRENT ASSErs 52.706 287,162 TOTAL ASS￿5 LESS CURRENT LIABILITIES 54,110 290,452 NEf ASSErs 54,110 290,452 FUNDS 16 Unrestrlctad funds Restricted funds 54,110 232,032 58,420 TOTAL FUNDS 54,110 290,452 For the period 31 March 2024, the company was entitled to exemption under section 477 of the Companies Act 2006. The members have not required the company to obtain an audlt In accordance with section 476 of the Companies Act 2006. The Truslees acknowledge their responsibility for complying with the requirements of the Act with respect for the preparation of accounts ensuring.. that the accounting records comply with Sections 386 and 387 of the Companies Act 2006 and 2. prepare financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial period and of its surplus or deficit for each financial period in accordan￿ with the requirements of Sections 394 and 395 and which comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. The financial statements were approved by the Board of Trustees and authorised for issue on L I 2024 and were signed on its behalf by: 51gn•d by= K Hall - Trustee A3CABA71e4034TC... The notes form part of the financial statements 13 continued..

Freedom Festlval Arts Trust Cashflow Statement for the year ended 31st March 2024 2024 2023 Notes Cash flows from operating actlvltles Cash generated from operations {133,8381 1489,1311 Net cash provided by / (used in) operating activities (133,838) 1489,1311 Cash flows from Investin8 a¢tivities Purchase of tangible fixed assets 13,071) Net cash used in investing activities {3,0711 Chan8e In cash and cash equlvalent$ In the reportln8 perlod (133,838) 1492,2021 Chan8e In cash and Cash equlvalents at the be8lnnln8 of the reportln8 perlod 184,752 676,954 Change In cash and cash equlvalents at the end of the reportln8 perlod 50,914 184,752 The notes form part of the financial statements 14 continued...

Frnedom Festival Arts Trust Notes to the Financlal Statements for the year ènded 31st March 2024 I RECONCILIATION OF N￿INcolMEl (EXPENDITURE) TO NETCASH FLOW FROM OPERATING ACTIVITIES 2023 2024 Net Income / (expendlture) forthe reportlng perlod las perthe SOFA) Adjustments for: Depreclatlon charges Ilncreasel / Decrease In stocks Ilncrease) / Decrease in debtors Increase I Idecreasel In crediiors (236.3421 1308,0161 1,886 542 178.360 178.284) 2,144 11,3551 1102,9161 178,9881 Net(ash p￿Ided byl (used In) operatlons 133,838 1489,131 2 ANALYSIS OF CHANGES IN FUNDS 01.04.23 Cashflow Jlm.24 ￿et￿￿h Cash at bank 184,752 1133,8381 50,914 Total 184,752 133,838 50.914 The notes form part of the financial statements 15 continued...

Freedom Festival Arts Trust Notes to the Financial Statements for the year ended 31st March 2024 COMPANY INFORMATION Freedom Festival Arts Trusts is a private company limited by guarantee incorporated in the United Kingdom. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered Offi￿ is given in the charity information on page 1 of these financial statements. ACCOUNTING POLICIES Basls of prèparing the financial statemènts The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practi￿, applicable to charities preparing their accounts In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (FRS 102) , the Charities Act 2011 and with UK Generally Accepted Accounting Practice. The financial slalements have been prepared under the hislorical cost convention. The signlficant accounting policies applied in the preparation of these financlal statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. Income All income 15 recognised in the Statement of Financial Activities once the charity has entitlement to the funds, when it is probable that the income will be received and when the amounl can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a18gal or constructive obligation committing the charity to that expenditure. it is probable that a tr8nsfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources. Allocation and apportlonment of costs Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs and governance costs. They are incurred directly in support of expenditure on the objectives of the charity. Where support costs cannot be directly attributed to particular headings, they have been allocated to cost of raising funds and expenditu￿ on charitable activities on a basis consistent with use of the resources. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its eslimaled useful life. The cost of fixtures and fittings are depreciated over 3 years. Taxation Freedom Festival Arts Trust is a UK registered charity, and all of its income is applied to the achievement of its charitable objects. The charitable company is therefore exempt under current legislation from most forms of taxation. 16 continued...

Freedom Festival Arts Trust Notes to the Financial Statements- continued for the year ended 31st March 2024 Accountlng policies continued Fund accounting Unrestricted funds Unrestricled general funds are available for use at the discretion of the trustees In furtherance of the general objectives of the charity. Restricted funds Fund accounting Reslricted funds are to be used in accordan￿ with specific restrictions imposed by donors or have been raised by the charity for particular purposes. The aim and use of each restricted fund is set out in Ihe notes to the financial statements. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Penslon costs and other post-retlrem•nt benefits The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. Stocks Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Debtors and credltors receivable I payable withln one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. 2024 2023 Total Unrestrlcted Restrlcted Total 3 DONATIONS & LEGACIES Sponsorshlp Donatlons & gifts 77,500 77,51MJ 3,080 80,580 85,000 1,942 86,942 3,080 3,080 77,5 2024 Total 2023 Tot81 Artlstl¢ Act Core 4 INCOME FROM CHARITABLE ACTiwnES Grants received Ticket sales Festival concessions 235,954 301,383 537.337 8,000 4,598 8,914 558,849 822,706 19,520 4,490 139 4,598 8,914 322,895 otherlncome 235,954 846,895 17 continued...

Freedom Festlval Arts Trust Not88 to the Financlal Stataments- continued for the year ended 31st March 2024 Direct Costs Support Costs Totals CHARITABLE ACTIVITIES COSTS Artlstlc Actlvltles Jarne5 Reckltt LlbraryTrust Core Costs The Vlgll 492,066 491066 346,370 32.225 870,661 5,110 351,481 32,225 875,772 5,110 DIREcf COSTS OF CHARITABLE ACflVITIES 2024 2023 staff costs Rent & rates Insurance Telephone 5undNes Festlval & workshop Content Advertlsing & marketlng Reuultment expenses Travel & entertalnment Post & statlonery Computer costs Subscrlptlons Repalrs & renewa15 Tralnlng I staff development Project management & consultancy costs Depreclatlon 256.668 14.218 10,255 378 8.810 492,066 56,036 579 15,062 1,269 4,206 1,849 231,725 12.477 7.093 664 {8,937) 745.811 62,833 9,fj50 13.312 2,535 3,982 499 3.879 3.500 1,886 3,858 18,898 2.144 870.661 1.106,543 SUPPORT COSTS Flnance Governance Total Core costs 310 4,800 5,110 2024 2023 Governance costs are: Independent examlners fee 3.110 3.110 2,950 2.950 18 continued...

Freedom Festival Arts Trust Notes to th• Financlal Statemants- contlnued for th• year ended 31st March 2024 2024 2023 INCOME / (EXPENDITURE) Net income / (expendlture) is stated aftercharging Depredatlon Amounts payable to the independent examiner 1,886 4800 6.686 2.144 2,200 4,344 9 TRUSTEES, REMUNERATIONS & BENEFITS The tnjstees were not entrtled to and dld not recesve any remuneration during thisyear northe Pre￿dIng year Kate Denby recelved £75.70 sn expenses durlng the year- relatlng to mlleage and parklng at Hifton to meet new key team members Nell Porteus received £8.55 In expenses during the year- relatlng to mlleage for the Away Day 2023 10 STAFF COSTS Wages & salarles Sodal se￿rItY costs Other penslon costs 234.668 14639 5.J67 211.l91 .720 4814 256,668 231,725 The average monthly numberof employee5 durln8 the yearwas as follows.. 2024 2023 No No Average numbef of empl(ryee5 No employees received emoluments In excess of £60,000. 19 continued...

Freedom Festlval Arts Trust Notes to the Flnancial Statements- continued for the year ended 31st March 2024 11 C(WPARATIVES FCIR THE Unrestricted Designated Restricted Totsl INroME & ENTh)MNENfs FROM Donations & legacies 1,942 86,942 Charitable aLtb¥ities Artistic Activities Core Costs The Vigil Total 341,1 341,CL 361,498 12,011 1,459 361A98 12,011 438,019 363,440 EXPEM)ITURE Artlstic Activities Core Costs The Vigryl Total 745,811 745,811 331,439 32,225 1,109,475 331,439 32,225 778,036 331,439 NEr INrchME I (EXPENDITURE) Transfers between funds t ￿￿￿ent in funds 31CK)I 61 32,062 {340,0171 {308,0161 1340,017) 1308 016) RECONCILIATON OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 3C6,474 338,536 85,￿X) 206,994 1133,0231 598,468 2￿,452 Cost Depn NBV TANGIBLE FIXED ASSErs Flxtures & Flttings At 01.04.23 Addltlons Disposals Charge forthe year At 31.03.24 10,524 7,234 3,290 1,886 (1,8861 9,120 1,404 10,524 20 continued.

Freedom Festival Arts Trust Notes to the Financlal Statements- contlnued for the year •nded 31st March 2024 13 STOCKS 2024 2023 For resale 813 1,355 14 DEBTORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2024 2023 Other debtors 7.837 3,465 23,529 92,959 16,179 104,053 VAT Prepayments & accrued Income 34,831 213,191 15 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR )24 2023 Trade credltors other creditors ccruals & deferred Income 10.168 19,479 4.205 23,160 32,115 56,860 33,852 112,135 Deferred Income Deferred Income 01.04.23 Amounts released from prevlous perlods 12,011 (12,0111 Deferred income at 31.03.24 16 ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Total 2024 Tota I 2023 Fixed assets Current assets Cu rrent lia bilities 1,404 86.559 (33.853 54,110 3,290 399,298 1112,1361 290,454 86,559 (33,853) 54,110 21 continued.

Freedom Festlval Arts Trust Notes to the Flnancial Statements- continued for th• year ended 31st March 2024 17. MOVEMENT IN FUNDS At 01.04.23 Net Transfers At 31.03.24 Unrestritted fund$ General fund Oesignated fund 156.682 75,350 {28.586) {128,0961 {21,2401 54.110 232.032 128.5861 1149,336) 54.110 Restrffled funds Artistic Activltles INSITU 1216.CW) 8.244 216,OLMI {66,6641 58,420 58.420 207,756 149,336 TOTAL FUNDS 1236.342 Net movement in funds, Included in the above are as follows.. Expendedl Transferre Net Movement Incornlng Unrestrlcted lund$ General fund Deslgnated fund 322,895 479,S77 21.240 1156,6821 121.240) Restrkned lunds Artistlc Activities INSITU 294,766 21,769 294,766 80.189 158.4201 TOTAL FUNDS 639,430 875,772 236.342 22 continued...

Freedom Festlval Arts Trust Notes to the Financial Statements- continued for the year endod 31st March 2024 17. MOVEMCNT IN fuNDS - continued Comparatives for movements in funds At 01.04,22 Net Transfers At 31.03.23 Unrestricted funds General fund Designated fund 313,650 85,000 41.651 19,6501 (198,619) 156,682 75,350 398,650 32,001 1198,6191 232,032 Restricted funds Artistic Activities The Vigil INSITU 85,246 21,321 93,251 1284,9721 120,2141 134,2141 199,726 11,107) 59,037 199,818 340,017 198,619 58,420 TOTAL FUNOS 598,468 308,016 290,454 Net movement in funds, Included In the above are as follows: Incoming Expended Movement Unrestricted funds General fund 363,440 321,789 9,650 41,651 19,6501 Restrlcted funds Artlstlc Actlvltles In-sltu The Vl811 410,839 15,171 12,011 438,019 695,809 50,002 32,225 778,036 1284,9721 (34,831) 120,214 340,0171 TOTAL FUNDS 801,459 1,109,475 308.016 23 continued...

Freedom Festival Arts Trust Note8 to the Financlal Statements- continued for the year ended 31st March 2024 The restricted funds comprise unspent income which has been raised by the charity for particular purposes or is to be used in accordance with specific restrictions imposed by donors. The balances will be used to fund future expenditure. The Artistic Activities fund relates to: Activities which enhance the annual Freedom Festival. Any artistic Activities which take place outside of the festival time which are developed and ultimately contribute to the organisations purpose and slrategy. Any artistic activities satisfying the charitable objects of Freedom Festival Arts Trust The Vigil fund has been spent down due to activity in the year. The IN-SITU fund ringfen￿S the value that Freedom Festival Arls Trust has contractually committed to invest as a partner into the (UN)Common Spaces project over the years 2021-2025. The James Reckitt Library Trust fund was created in a series of grants from them for work focused on visual art, spoken word and literature. After the original projecls that were funded had completed Ihere was a residual balance which will continue to be used within the scope of the charitable company's objectives in furtherance of the above-mentioned art forms. Freedom Festival Arts Trust has designated, out of general unrestricted funds the amount of £54.110 towards increasing the capacity and resilience of the charity in line with the strategic objectives in its business plan. There has been a transfer of £149,336 from unrestricted funds to restricted fund5 to cover addltional spend for the Artistic Activities fund above and beyond the balance on the restrlcted fund brought forward. The balance on the Artistic Activities fund is £nil at the year end. 18 RELATED PARTY DISCLOSURES Hull Clty Council An or8anisation in which G Taylor is an employee and R pritchard is an elected member. During the year £2CX),C%J) of sponsorship was re￿iVed from Hull City Council {2023 - £2(K),(KK)). 19 ULTIMATE coNfROLLIN￿ PARTY The charitable company, being Limited by guarantee, has no share capitsl, and was controlled throughout the period by Its members and therefore no party had ultimate control 24 continued..