## **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
- 5 June 2024
- 1 October 2024
- 11 December 2024
- 1 February 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**
- Audiences of 70,000
- 191 artists from 32 companies presented 218 events
- A £1.8m economic impact on the city of Hull
- Our new programme, Freedom on Tour saw audiences of 2000 watching artist from 3 companies in 6 performances in Bridlington.
## **Participation & Engagement**
- Delivered 9 participatory projects with 576 participants with 1800 hours of rehearsals and workshops
- 84 festival volunteers completed 802 hours of volunteering
- 86% of participants said taking part made them feel proud of their local area, whilst 71% reported an improved sense of wellbeing
## **Access**
- Increased access to our work through 10 British Sign Language performances and 8 audio described performances and exhibitions.
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:
- Finance: contraction in investment in the arts and increased competition poses a risk to our fundraising and sponsorship targets
- Loss of personnel, which can impact delivery, partnerships and finance/operations of a small organisation
- Cost of inflation leads to increased cost, and impact on activity, operations and cashflow.
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:
- Regular annual funding from Arts Council England (via the national Portfolio Organisation funding under a multi year agreement between 2023/4-2027/8.
- Local Authority grants
- Grants through lottery, foundations and other grant making organisations
- Sponsorship through business partnerships
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
- delivering the annual **Freedom Festival** in Hull, exploring themes of freedom and social justice, inspired by pioneers of Hull’s history such as William Wilberforce, Amy Johnson and the Head Scarf Revolutionaries.
- **Art & about:** expanding our work to new areas and new audiences across the Hull City local communities and wider north of England.
- - **Freedom Produces:** supporting the growing need for nurturing artists, heritage and cultural experts developing work in public spaces
- **Freedom Voices:** a year round engagement programme developing connections, links and partnerships with people and communities to take part in projects
## **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:
- Select suitable accounting policies and apply them consistently;
- Observe the methods and principles in the Charities SORP;
- Make judgements and estimates that are reasonable and prudent;
- State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
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 received**250,976**
Ticket sales -
Festival concessions -
Other income -
**250,886**
**5.**
**CHARITABLE ACTIVITIES COSTS**|Core**2025**2024
**Total**Total
£
£
£
**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** **592,412**558,850|
|---|---|
|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:
- 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 strategy.
- Any artistic activities satisfying the charitable objects of Freedom Festival Arts Trust.
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)