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← Freedom Festival Arts Trust

2025-03-31-accounts

REGISTERED COMPANY NUMBER:08530799 REGISTERED CHARITY NUMBER: 1158439

Freedom Festival Arts Trust

Financial Statements

31 March 2025

SD-0220543-1-6

Freedom Festival Arts Trust

Contents of the Financial Statements for the year ended 31st March 2025

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 6
Statement of Trustees Responsibilities 7
Independent examiners report 8
Statement of Financial Activities 9
Balance Sheet 10
Cash Flow Statement 11
Notes to the Cash Flow Statement 12
Notes to the Financial Statements 13 to 21

Freedom Festival Arts Trust

Reference and Administrative Details for the year ended 31st March 2025

TRUSTEES
K Hall
M Moore (appointed 12.02.25)
S A Christopher (resigned 01.06.25)
K Denby (resigned 02.10.24)
N Porteus (resigned 12.02.25)
L Alford
P M Dalby
R Pritchard
REGISTERED OFFICE Suite 9,
Bond 31
42/43 High Street
Hull,
East Yorkshire
HU1 1PS
REGISTERED COMPANY 08530799 (England and Wales)
NUMBER
REGISTERED CHARITY 1158439 (England and Wales)
NUMBER
INDEPENDENT EXAMINERS Smailes Goldie
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA
BANKERS The Co-operative Bank plc
P O Box 250
Skelmersdale
Lancashire
WN8 6WT
SOLICITORS Rollits LLP
Citadel House
58 High Street
Hull
HU1 1QE

Page 1

Freedom Festival Arts Trust

Report of the Trustees for the year ended 31st March 2025

The Trustees present their report and financial statements for the year 2024-2025.

The accounts have been prepared in accordance with the accounting policies of Freedom Festival Arts Trust and to comply with the charity’s governing document and Accounting and Reporting by Charities: “Statement of Recommended Practice applicable to charities in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102)”

Structure, Governance and Management

Charity is constituted as a Charitable Organisation, registered with the Charities Commission on 3 September 2014. The Trustees are also directors of the company for the purposes of the Companies Act 2006. 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.

Trustees are legally responsible for governance of the Charity.

The board currently consists of six Trustees and is chaired by Karen Hall. The full Board of Trustees met four times in the period as on the dates listed below: Board meeting dates from 1 April 2024- 31 March 2025

The Trustees act on advice and information from the Leadership Team who are responsible for the day-today management of the charity.

Objectives and Activities

The charity’s objects (the ‘Objects’) are to advance the education of the public in the arts and in particular the arts of performance, music, drama, poetry reading, sculpture, painting, handicrafts and all other associated arts; and to encourage public participation in the said arts by the presentation of concerts, performances, exhibitions and festivals in the City of Kingston upon Hull (“the City”) and its environs including Yorkshire and Lincolnshire, but not limited to events which celebrate the history of the City including its contribution to the abolition of slavery through the pioneering work of Hull-born William Wilberforce; provided that the promotion 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 the Trustees shall in their absolute discretion determine.

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Vision & Mission

Our vision is:

We use arts, culture and heritage to create unique and extraordinary moments that challenge, inform and change the way people view and experience Freedom across Hull, East Riding and the world.

Our mission is:

We champion Hull’s revolutionary heritage in freedom reform, celebrating the city’s independent spirit and global connections with free-to-access world class culture and heritage.

We draw inspiration from Hull pioneers such as William Wilberforce, Amy Johnson, Mary Murdoch, Head Scarf revolutionaries, and use public & civic space as a canvas to activate cultural revolutions. Empowering artists, heritage instigators and communities to create and collaborate, encouraging social unity and sharing the value of joy that comes with freedom.

Our people-powered approach, combined with bold artistic ambition & extensive experience delivering creative interventions, means Freedom Festival Arts Trust is trusted to deliver powerful, transformative experiences in public space—connecting communities, challenging injustice, and leading the way in socially engaged art.

Page 2

Freedom Festival Arts Trust

Report of the Trustees Continued for the year ended 31st March 2025

About us

Freedom Festival Arts Trust (FFAT) is a Hull-based charitable organisation dedicated to inspiring and uniting communities through the transformative power of arts & heritage. Established to celebrate freedom, expression and positive social change, we deliver world-class cultural and heritage experiences that resonate locally, nationally, and internationally.

Inspired by the legacy of William Wilberforce and the abolitionist movement, Freedom Festival Arts Trust explores themes of freedom, human rights, and social justice through a dynamic mix of culture and heritage programmes. Reaching over 70,000 audiences annually, Freedom Festival Arts Trust looks to create vibrant, inclusive space where underserved voices and stories come together to spark dialogue and foster connection.

Freedom Festival began in 2007 as part of the bicentennial commemorations of the abolition of the transAtlantic slave trade in 1807 by William Wilberforce. We became the Freedom Festival Arts Trust in 2013, an independent charity and company limited by guarantee.

Main activities undertaken to further the charity’s purpose for public benefit

The Trustees have paid due regard to the Charity Commission guidance on public benefit reporting on deciding what activities the charity has undertaken this year.

Between 1 April 2024 and 31 March 2025, Freedom Festival Arts Trust delivered the following activities:

1. Freedom Festival 2024 saw over 30 companies descend on Hull to bring the city to life, attracting audiences of 70,000

2. Participation & Engagement programme: Pram People (Polygot) involved parents and their young children, Public Trust (Cie Zermers) invited the audience to present their promises to each other and CODE (Justice in Motion) worked with young people at risk of being groomed into county gangs to develop a new performance

3. Partnerships with East Riding of Yorkshire Council to deliver Freedom on Tour, with In Situ, circostrada, Light up the North and Theatre for Young People to embed Freedom Festival Arts Trust in a range of key networks and continue to develop our programme.

FF has an international reputation, bringing the best local, national and international artists to the city, through all sizes of performances and exhibitions, from spectacular large-scale to reflective and intimate.

Our achievements in 2024-2025 included:

Freedom Festival

Participation & Engagement

Access

Page 3

Freedom Festival Arts Trust

Report of the Trustees Continued for the year ended 31st March 2025

Risk Review

A comprehensive risk register is reviewed at each quarterly Board meeting, covering financial, artistic, governance/leadership, health & safety and personnel/wellbeing.

As with most charities, this process exposes risk, with systems identified and established to mitigate them. External risks have been managed through a robust business plan that is flexible and adaptable, yet still ambitious. Internal risks were minimised by adherence to Freedom Festival Arts Trust’s policies and procedures, along with updates to HR policy and financial policy.

Key risks that the charity is actively managing include:

The charity’s trustees have considered the major risks to which the charity is exposed and have reviewed potential risks. Systems and procedures have been put in place to manage the risks and mitigate any adverse outcomes.

Financial Review

Freedom Festival Arts Trust was successful in securing Arts Council England National Portfolio Funding (NPO) for the period 2023-2028.

Turnover for Freedom Festival Arts Trust in 2024/25 was £747,468.

The principal sources of income for the charity were:

There are no funds held as a custodian trustee on behalf of others.

Future Plans

Freedom Festival Arts Trust will continue to deliver on its Arts Council National Portfolio Organisation (NPO) funding for the next 2 years. We will continue to focus on

Trustee Recruitment, Induction and Training

Trustees are recruited through a formal process that includes open invitation to apply and with due recognition of the charity’s requirements for skill and experience and of its diversity balance. The recruitment process includes dissemination of a trustee recruitment pack, interview and initial opportunity to attend a board meeting as an observer.

An induction is provided for new trustees through the Festival Director, alongside opportunities for training in matters as needed, e.g. safeguarding.

Page 4

Freedom Festival Arts Trust

Report of the Trustees Continued for the year ended 31st March 2025

Freedom Festival Arts Trust is led by a diverse Board of Trustees representing breadth and depth of skills and experience from across a range of sectors to support the development of the charity and the achievement of its objectives.

Organisational Structure and Decision Making

The Trustees meet formally on a quarterly basis and attend Freedom Festival Arts Trust activities and events when possible and at least one annual strategic planning away day. The Festival Director reports to the Chair of Trustees in addition to attending and reporting at Trustee meetings. The Festival Director manages the implementation of the strategic direction and day to day operations of the charity.

Policy on Reserves

The calculation of free reserves is based on the definition included in the charity statement of recommended practice (SORP), which provides recommendations for accounting and reporting for charities. The trustees have examined the requirements of the charity to hold free reserves - those reserves not invested in tangible fixed assets, excluding long term liabilities, or designated for a particular purpose.

Reserves are planned to provide an internal source of funds for situations such as a sudden increase in expenses, one-time unbudgeted expenses, unanticipated loss in funding, or uninsured losses, or where the company permanently ceases charitable activities and must close operations. The policy of the Trustees is to hold reserves equivalent to three months operating costs, which equates to approximately £70,000. The charity ended the 24/25 financial year with £50,071 in reserves following a challenging year for the sector. Freedom Festival Arts Trust operated in a more competitive fundraising landscape and was not able to fully realise its fundraising targets whilst also experiencing an increase in costs owing to high inflation. Freedom Festival Arts Trust utilised some of its reserves to deliver an ambitious and high-quality artistic and engagement programme.

Trustees have taken several positive steps to build back our reserves, including a review of the charity’s finance and expenditure and a robust fundraising plan developed. Post balance sheet, the first two quarters of 25/26 financial year has seen significant achievements in fundraising and sponsorship for our programmes.

The Trustees aim to build the equivalent of 3 months operating costs in reserves by April 2027.

Going Concern Update

Following a review of FFAT’s expenditure and a reduction in staffing levels, FFAT is in a notably improved position. We have secured further regular income from Esmee Fairbairn Foundation over 4 years (£200,000) and new core funding from Wykeland Group from 2025-2027. We have a robust plan in place to build our reserves back by 2027, with a guarantee from Hull City Council of £20,091 in the form of a letter of credit which will remain in place for 2 years until April 2027.

The Trustees have assessed the charity’s financial position and its ability to continue operating for the foreseeable future. During 2024/2025 the charity has a positive reserves position and ended the financial year with unrestricted reserves of £50,071.

The Trustees have conducted regular and robust reviews of cash flow forecasts, covering at least the next 12 months. Based on current financial performance, secured income streams and future projections, the Trustees have a reasonable expectation that the charity has adequate resources to continue to operate. Accordingly, the financial statements have been prepared on a going concern basis.

Pay Policy

All Trustees give their time freely.

The Board reviews pay and remuneration annually in March/April. Decisions on levels of remuneration consider performance reviews, benchmarking against other local cultural organisations and salary levels, and in line with any change to scope of duties.

Page 5

Freedom Festival Arts Trust

Report of the Trustees Continued for the year ended 31st March 2025

Staff and key management

The charity is fortunate to employ a number of key members of staff. The charity has classified there to be one key management personnel in line with the requirements of SORP. They are:

Festival Director: P Hargreaves (appointed 2 September 2024)

Disclosure of Information to Independent Reviewer

Each of the Trustees has confirmed there is no information of which they are aware which is relevant to the audit, but of which the independent examiner is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the independent examiner is aware of such information.

11 Nov 2025

This report was approved by the Trustees on …………………… and signed on their behalf by:

Karen Hall Chair

Page 6

Freedom Festival Arts Trust

Statement of Trustees Responsibilities for the year ended 31st March 2025

The Trustees are responsible for preparing the Trustees report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales required the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and the incoming resources and application of resources of the charity for that year.

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

The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 7

Freedom Festival Arts Trust

Independent Examiners’ report to the trustees of Freedom Festival Arts Trust

I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2025 which are set out on pages twelve to twenty-five.

Responsibilities 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 audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts 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.

Independent examiner's statement

Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants of England and Wales), which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act: or

  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 that 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 accounts 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:

pli

Luke Taylor BSc (Hons) FCA (Senior Statutory Auditor) for and on behalf of Smailes Goldie Chartered Accountants Regent’s Court Princess Street Hull HU2 8BA

14 Nov 2025 2025

Page 8

Freedom Festival Arts Trust

Statement of Financial Activities for the year ended 31st March 2025

Unrestricted
Designated
fund
fund
Notes
£
£
INCOME AND
ENDOWMENTS FROM
Donations and legacies
3
9,204
-
Charitable activities
4
Artistic Activities
-
-
Core Costs
341,436
-
The Vigil
Total
350,640
-
EXPENDITURE ON
Charitable activities
5
Artistic Activities
-
-
Core Costs
333,285
-
The Vigil
-
-
Total
333,285
-
NET
INCOME/(EXPENDITURE)
17,355
-

Transfers between funds
17
(17,355)
(4,039)
Net movement in funds
-
(4,039)
RECONCILIATION OF
FUNDS
Total funds brought
forward
-
54,110

TOTAL FUNDS CARRIED
FORWARD
-
50,071
 Restricted
funds
£
145,852
250,976
-
396,828
385,997
-
32,225
418,222
(21,394)
21,394
-
-
-		 2025
Total
funds
£
155,056
250,976
341,436
747,468
385,997
333,285
32,225
751,507
(4,039)
-
(4,039)
54,110
50,071		 2024
Total
funds
£
80,580
235,955
322,895
-
639,430
492,066
351,481
32,225
875,772
(236,342)
-
(236,342)
290,452
54,110

CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

Page 9

Freedom Festival Arts Trust

Balance Sheet 31st March 2025

2025 2024
Notes £ £
FIXED ASSETS
Tangible assets 12 379 1,404
CURRENT ASSETS
Stocks 13 84 813
Debtors 14 68,083 34,831
Cash at bank 22,564 50,914
90,731 86,558
CREDITORS
Amounts falling due within one year 15 (41,039) (33,852)
NET CURRENT ASSETS 49,692 52,706
TOTAL ASSETS LESS CURRENT
LIABILITIES 50,071 54,110
NET ASSETS 50,071 54,110
FUNDS 17
Unrestricted funds 50,071 54,110
Restricted funds - -
TOTAL FUNDS 50,071 54,110

For the period 31 March 2025 the company was entitled to exemption under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The Trustees acknowledge their responsibility for complying with the requirements of the Act with respect for the preparation of accounts ensuring:

  1. 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 accordance 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 2025 and were signed on its behalf by: 11 Nov 2025

K Hall - Chair

The notes form part of these financial statements

Page 10

Freedom Festival Arts Trust

Cash Flow Statement for the year ended 31st March 2025

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Change in cash and cash equivalents
in the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end
of the reporting period
 2025
£
(28,350)
(28,350)
(28,350)
50,914
22,564		 2024
£
(133,838)
(133,838)
(133,838)
184,752
50,914

The notes form part of these financial statements

Page 11

Freedom Festival Arts Trust

Notes to the Cash Flow Statement for the year ended 31st March 2025

1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

ACTIVITIES
2025 2024
£ £
Net income/(expenditure) for the reporting period (as per the
Statement of Financial Activities) (4,039) (236,342)
Adjustments for:
Depreciation charges 1,025 1,886
(Increase)/decrease in stocks 729 542
(Increase)/decrease in debtors (33,252) 178,360
Increase/(decrease) in creditors 7,187 (78,284)
Net cash provided by/(used in) operations (28,350) (133,838)
2. ANALYSIS OF CHANGES IN NET FUNDS
At 1.04.24 Cash flow At 31.03.25
£ £ £
Net cash
Cash at bank 50,914 (28,350) 22,564
Total 50,914 (28,350) 22,564

The notes form part of these financial statements

Page 12

Freedom Festival Arts Trust

Notes to the Financial Statements for the year ended 31st March 2025

1. 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 office is given in the charity information on page 1 of these financial statements.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements

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 Practice’ 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 statements have been prepared under the historical cost convention.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Income

All income is 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 amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer 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 apportionment 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 expenditure 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 estimated useful life.

Fixtures and fittings - 3 years on cost

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.

Fund accounting

Unrestricted funds

Unrestricted general funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

Page 13

continued...

Freedom Festival Arts Trust

Notes to the Financial Statements - continued for the year ended 31st March 2025

2. ACCOUNTING POLICIES - continued

Restricted funds

Fund accounting

Restricted funds are to be used in accordance 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 the notes to the financial statements.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement 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 creditors receivable / payable within 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.

3. DONATIONS AND LEGACIES

Unrestricted
funds
£
Sponsorship
-
Donations and gifts
9,204
9,204		 Restricted
funds
£
145,852
-
145,852		 2025
Total
funds
£
145,852
9,204
155,056		 2024
Total
funds
£
77,500
3,080
80,580

Page 14

continued...

Freedom Festival Arts Trust

Notes to the Financial Statements - continued for the year ended 31st March 2025

4. INCOME FROM CHARITABLE ACTIVITIES

Artistic Act

£
Grants received250,976
Ticket sales -
Festival concessions -
Other income -

250,886

5.
CHARITABLE ACTIVITIES COSTS		 Core20252024
TotalTotal
£
£
£
298,590
549,566
537,338
24,084
24,084
8,000
12,538
12,538
4,598
6,224
6,224
8,914
341,436 592,412558,850
Artistic Activities
Core Costs
The Vigil
6.
DIRECT COSTS OF CHARITABLE ACTIVITIES
Staff costs
Rent and rates
Insurance
Telephone
Sundries
Festival and workshop content
Advertising and marketing
Recruitment expenses
Travel and entertaining
Post and stationery
Computer costs
Subscriptions
Training & staff development
Project management and consultancy costs
Depreciation		 Direct
Costs (see
note 6)
£
385,997
326,889
32,225
745,111
 Support
costs (see
note 7)
£
-
6,396
-
6,396
2025
£
214,718
28,944
8,543
871
9,601
385,997
73,891
3,966
7,435
613
4,185
2,314
3,008
-
1,025
745,111		 Totals
£
385,997
333,285
32,225
751,507
2024
£
256,668
14,218
10,255
378
8,810
492,066
56,036
579
15,062
1,269
4,206
1,849
3,879
3,500
1,886
870,661

Page 15

continued...

Freedom Festival Arts Trust

Notes to the Financial Statements - continued for the year ended 31st March 2025

7. SUPPORT COSTS

Core Costs
Governance costs are as follows:
Independent examiners’ fee
8.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets
Amounts payable to the independent examiner		 Finance
£
186
 Governance

costs
Totals
£
£
6,210
6,396
2025
2024
£
£

6,210
3,110
6,210
3,110
2025
2024
£
£
1,025
6,210
1,886
4,800

9. TRUSTEES' REMUNERATION AND BENEFITS

The trustees were not entitled to and did not receive any remuneration from the charitable company during this year nor the preceding year.

Trustees' expenses

Kate Denby received £NIL (2024: £76) in expenses during the year – relating to mileage and parking at Hilton to meet new key team members. Neil Porteus received £NIL (2024: £9) in expenses during the year – relating to mileage for the Away Day. Sally Christopher received £171 (2024: £NIL) relating to travel to Festival and recruitment

10. STAFF COSTS

STAFF COSTS
Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Average number of employees		 2025
£
196,125
14,185
4,408
214,718

2025
7		 2024
£
234,668
16,633
5,367
256,668
2024
7

No employees received emoluments in excess of £60,000.

Page 16

continued...

Freedom Festival Arts Trust

Notes to the Financial Statements - continued for the year ended 31st March 2025

11.
COMPARATIVES FOR THE SOFA
Unrestricted
Designated
fund
fund
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
-
-
Charitable activities
Artistic Activities
-
-
Core Costs
322,895
-
Total
322,895
-
EXPENDITURE ON
Charitable activities
Artistic Activities
-
-
Core Costs
351,481
-
The Vigil
-
-
Total
351,481
-
NET INCOME/(EXPENDITURE)
(28,586)
-
Transfers between funds
(128,096)
(21,240)
Net movement in funds
(156,682)
(21,240)
RECONCILIATION OF FUNDS
Total funds brought forward
156,682
75,350
TOTAL FUNDS CARRIED FORWARD
-
54,110		 Restricted
funds
£
80,580
235,955
-
316,535
492,066
-
32,225
524,591
(207,756)
149,336
(58,420)
58,420
-		 Total
funds
£
80,580
235,955
322,895
639,430
492,066
351,481
32,225
875,772
(236,342)
-
(236,342)
290,452
54,110

Page 17

continued...

Freedom Festival Arts Trust

Notes to the Financial Statements - continued
for the year ended 31st March 2025
12.
TANGIBLE FIXED ASSETS
COST
At 1st April 2024
At 31st March 2025
DEPRECIATION
At 1st April 2024
Charge for year
At 31st March 2025
NET BOOK VALUE
At 31st March 2025
At 31st March 2024
13.
Stocks
Stocks for resale
14.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
VAT
Prepayments & accrued income
15.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Other creditors
Accruals and deferred income		 2025
£
84
2025
£
64,164
1,173
2,746
68,083
2025
£
612
4,602
35,825
41,039		 Fixtures
and
fittings
£
10,524
10,524
9,120
1,025
10,145
379
1,404
2024
£
813
2024
£
7,837
3,465
23,529
34,831
2024
£
10,168
19,479
4,205
33,852

Page 18

continued...

Freedom Festival Arts Trust

Notes to the Financial Statements - continued for the year ended 31st March 2025

Deferred income

Deferred income as at 01.04.24
Amounts deferred in the year

Amounts released from previous periods
Deferred income as at 31.03.25
16.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Designated
fund
£
Fixed assets
379
Current assets
90,731
Current liabilities
(41,039)
50,071
17.
MOVEMENT IN FUNDS
Net
movement
At 1.04.24
in funds
£
£
Unrestricted funds
General fund
-
17,355
Designated fund
54,110
-
54,110
17,355
Restricted funds
Artistic Activities
-
(21,394)
TOTAL FUNDS
54,110
(4,039)
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
350,640
Designated fund
-
Restricted funds
Artistic Activities
396,828
TOTAL FUNDS
747,468
2025
2024
£
£
-
12,500
-
-
12,500
-
2025
2024
Total
Total
funds
funds
£
£
379
1,404
90,731
86,558
(41,039)
(33,852)
50,071
54,110
Transfers
between
At
funds
31.03.25
£
£
(17,355)
-
(4,039)
50,071
(21,394)
50,071
21,394
-
-
50,071
Resources
Movement
expended
in funds
£
£
333,285
17,355
-
-
418,222
(21,394)
(751,507) (4,039)

Page 19

Freedom Festival Arts Trust

Notes to the Financial Statements - continued for the year ended 31st March 2025

17. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Designated fund
Restricted funds
Artistic Activities
IN-SITU

TOTAL FUNDS		 At 1.04.23
£
156,682
75,350
232,032
-
58,420
58,420
290,452		 Net
movement
in funds
£
(28,586)
-
(28,586)
(216,000)
8,244
(207,756)

(236,342)		 Transfers
between
funds
£
(128,096)
(21,240)
(149,336)
216,000
(66,664)
149,336
-		 At
31.03.24
£
-
54,110
54,110
-
54,110

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Designated fund
Restricted funds
Artistic Activities
IN-SITU
TOTAL FUNDS		 Incoming
resources
£
322,895
-
294,766
21,769
639,430		 Resources
Movement
expended
in funds
£
£
479,577
(156,682)
21,240
(21,240)
294,766
-
80,189
(58,420)
875,772 (236,342)

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:

The IN-SITU fund ringfences the value that Freedom Festival Arts Trust has contractually committed to invest as a partner into the (UN)Common Spaces project over the years 2021-2025.

Page 20

Freedom Festival Arts Trust

Notes to the Financial Statements - continued for the year ended 31st March 2025

MOVEMENT IN FUNDS - continued

Freedom Festival Arts Trust has designated, out of general unrestricted funds the amount of £50,071 towards increasing the capacity and resilience of the charity in line with the strategic objectives in its business plan.

18 . Operating lease commitments

The charity’s total future minimum payments are as follows:

Suite 5 & 9 Bond Street 2025 £ Less than one year 16,000 Two – Three years 17,333

19. RELATED PARTY DISCLOSURES

Hull City Council

An organisation in which G Taylor is an employee and R Pritchard is an elected member.

During the year, £215,000 of sponsorship was received from Hull City Council (2024: £200,000)

20. ULTIMATE CONTROLLING PARTY

The charitable company, being limited by guarantee, has no share capital, and was controlled throughout the period by its members and therefore no one party had ultimate control.

Page 21

Issuer

Smailes Goldie

Document generated Wed, 5th Nov 2025 10:06:15 GMT Document fingerprint 58c06fb597bcab1e94b5a059f8822e19

Parties involved with this document

Document processed

Party + Fingerprint

Tue, 11th Nov 2025 16:53:00 GMT Fri, 14th Nov 2025 9:25:18 GMT Fri, 14th Nov 2025 9:27:13 GMT

K Hall - Signer (e1d0d31c776e87f85b592271a0804eac) Mushiirah Mohungoo - Signer (fcd044b53820be312d8eb3bd735a1adf) Luke Taylor - Signer (09bce59245813e302f674aea17127a60)

Audit history log

Date

Action

Wed, 5th Nov 2025 10:06:15 GMT Wed, 5th Nov 2025 10:06:16 GMT

Wed, 5th Nov 2025 10:09:34 GMT Wed, 5th Nov 2025 10:09:41 GMT Wed, 5th Nov 2025 10:11:14 GMT Wed, 5th Nov 2025 10:13:24 GMT Wed, 5th Nov 2025 10:13:41 GMT Fri, 7th Nov 2025 10:10:08 GMT Fri, 7th Nov 2025 10:10:49 GMT Fri, 7th Nov 2025 10:12:55 GMT Sat, 8th Nov 2025 14:35:16 GMT Sun, 9th Nov 2025 10:11:13 GMT Sun, 9th Nov 2025 10:11:59 GMT Mon, 10th Nov 2025 8:27:59 GMT Mon, 10th Nov 2025 8:28:14 GMT Mon, 10th Nov 2025 8:29:52 GMT Tue, 11th Nov 2025 10:12:04 GMT Tue, 11th Nov 2025 10:13:23 GMT Tue, 11th Nov 2025 16:42:45 GMT

Envelope generated by Jordan Tyson (213.249.229.122) Document generated with fingerprint 58c06fb597bcab1e94b5a059f8822e19 (213.249.229.122) Sent the envelope to K Hall (lorna@freedomfestival.co.uk) for signing (213.249.229.122) Document emailed to lorna@freedomfestival.co.uk K Hall opened the document email. (48.209.223.43) K Hall viewed the envelope (31.185.169.234) K Hall viewed the envelope (48.209.223.79) Document emailed to lorna@freedomfestival.co.uk K Hall opened the document email. (72.145.76.114) K Hall opened the document email. (31.185.169.234) K Hall opened the document email. (31.185.169.234) Document emailed to lorna@freedomfestival.co.uk K Hall opened the document email. (72.145.83.102) K Hall viewed the envelope (31.185.169.234) K Hall viewed the envelope (48.209.223.3) K Hall opened the document email. (31.185.169.234) Document emailed to lorna@freedomfestival.co.uk K Hall opened the document email. (72.145.83.89) K Hall viewed the envelope (208.127.192.59)

Tue, 11th Nov 2025 16:53:00 GMT Tue, 11th Nov 2025 16:53:00 GMT

Tue, 11th Nov 2025 16:53:05 GMT Tue, 11th Nov 2025 16:53:47 GMT Wed, 12th Nov 2025 14:43:22 GMT Thu, 13th Nov 2025 10:16:37 GMT Thu, 13th Nov 2025 10:17:16 GMT Fri, 14th Nov 2025 8:32:09 GMT Fri, 14th Nov 2025 8:36:43 GMT Fri, 14th Nov 2025 8:41:42 GMT Fri, 14th Nov 2025 9:19:34 GMT Fri, 14th Nov 2025 9:19:48 GMT Fri, 14th Nov 2025 9:24:44 GMT Fri, 14th Nov 2025 9:24:58 GMT Fri, 14th Nov 2025 9:25:13 GMT Fri, 14th Nov 2025 9:25:18 GMT Fri, 14th Nov 2025 9:25:18 GMT

Fri, 14th Nov 2025 9:25:19 GMT Fri, 14th Nov 2025 9:25:41 GMT Fri, 14th Nov 2025 9:27:00 GMT Fri, 14th Nov 2025 9:27:13 GMT Fri, 14th Nov 2025 9:27:13 GMT

K Hall signed the envelope (208.127.192.63)

Sent the envelope to Mushiirah Mohungoo

(mushiirahmohungoo@smailesgoldie.co.uk) for signing (208.127.192.63) Document emailed to mushiirahmohungoo@smailesgoldie.co.uk Mushiirah Mohungoo opened the document email. (48.209.223.3) Mushiirah Mohungoo viewed the envelope (72.145.152.1) Document emailed to mushiirahmohungoo@smailesgoldie.co.uk Mushiirah Mohungoo opened the document email. (72.145.83.65) Mushiirah Mohungoo opened the document email. (185.241.227.14) Mushiirah Mohungoo opened the document email. (72.145.93.148) Mushiirah Mohungoo opened the document email. (185.241.227.14) Mushiirah Mohungoo viewed the envelope (82.132.238.103) Mushiirah Mohungoo viewed the envelope (48.209.223.21) Mushiirah Mohungoo opened the document email. (94.30.34.10) Mushiirah Mohungoo viewed the envelope (94.30.34.10) Mushiirah Mohungoo viewed the envelope (72.145.76.96) Mushiirah Mohungoo signed the envelope (94.30.34.10) Sent the envelope to Luke Taylor (luketaylor@smailesgoldie.co.uk) for signing (94.30.34.10)

Document emailed to luketaylor@smailesgoldie.co.uk Luke Taylor opened the document email. (72.145.152.29) Luke Taylor viewed the envelope (94.30.34.10) Luke Taylor signed the envelope (94.30.34.10) This envelope has been signed by all parties (94.30.34.10)