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..