Goring and Streatley Festival (A company limited by guarantee)
Registration number: 08924999 Charity number: 1161360
Financial Statements for the Year Ended 31 March 2023
**Goring and Streatley Festival Annual Report and Financial Statements for the year ended 31 March 2023**
## Contents
Company Information ............................................................................................................................. 3 Trustees Report ....................................................................................................................................... 4 Independent examiner's report .............................................................................................................. 6 Statement of Financial Activities ............................................................................................................ 7 Balance Sheet .......................................................................................................................................... 8 Notes to the Financial Statements .......................................................................................................... 9
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**Goring and Streatley Festival Annual Report and Financial Statements for the year ended 31 March 2023**
## Company Information
**Chairman** Mr Geoffrey Stephen Brown **Trustees** Mr Brian Godfrey McKenzie Ms Caroline Margaret Hitch Mrs Jane Elizabeth Dipple Mrs Virginia Avery **Registered office** The Old Water Board House Icknield Road Goring Reading England RG8 0DE **Company Registration number:** 08924999 **Charity number:** 1161360
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**Goring and Streatley Festival Annual Report and Financial Statements for the year ended 31 March 2023**
## Trustees Report
The Trustees present their Report and Financial Statements for the year ended 31 March 2023. The Financial Statements comply with current statutory requirements, the Memorandum and Articles of Association and the Statement of Recommended Practice “Accounting and Reporting by Charities” issued in July 2014.
## **Governing Document**
The governing document is the Memorandum and Articles of Association incorporated on 6 March 2014
## **Trustees and Directors of Charity**
When a need arises the power of appointing new Trustees vests with the Trustees at that time. Under the Charity’s Articles of Association, all the Trustees are also Directors of the Company.
## **Risk Management**
The Trustees constantly monitor and review the major practical and financial risks to the Charity. The balance sheet highlights the overall financial position of the Charity.
## **Public Benefit**
The Trustees have referred to the Charity Commission’s general guidance on public benefit when reviewing the Charity’s aims and objectives.
## **Objects**
The Goring and Streatley Festival is a biennial cultural event that promotes, improves, develops and maintains public education and appreciation of the arts and sciences including music, visual arts, drama, literature, film and other performances in our culturally thriving community.
## **Activities and Achievements**
In June 2014, 2016, 2018 and 2022 festivals of music, dance, arts, theatre, literary event, fringe entertainment and workshops were held for 9 to 10 days. Because of the Covid-19 pandemic the planned festival in June 2020 unfortunately could not take place but a further programme of events was organised and held to coincide with the weeks around Queen Elizabeth II’s Platinum Jubilee in June 2022.
These festivals have inspired local people young and old as well as the formation of local groups to carry forward certain elements such as comedy, arts and textile working in the Goring Gap area and in local schools. We believe we are continuing to meet our aim of providing an inclusive festival that enriches the cultural life of the communities in the Goring Gap area by:
- Bringing professional performances to the Goring Gap accessible to all
- Showcasing young and aspiring local musicians and artists
- Providing opportunities for latent talent to experience public performance
- Encouraging wider community spirit and cohesion
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**Goring and Streatley Festival Annual Report and Financial Statements for the year ended 31 March 2023**
## **Reference and Administrative Information**
Details are shown on page 3
## **Financial Review and Position**
In the year to 31 March 2023, the festival made a surplus of £17,482 (2021/22 £13,352) on turnover of £98,341 (2021/22 £17,459). It is noted that there was a festival of events in 2022/23 and none in 2021/22. The net assets at the end of the year were £39,476 (2021/22 £21,994) and cash balances were £29,710 (2021/22 £35,652). The reserves are available to provide sufficient working capital for future festivals.
## **Statement of Trustees Responsibilities**
The Trustees (who are also directors of Goring and Streatley Festival for the purposes of company law) are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they 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 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 judgments and estimates that are reasonable and prudent;
- state whether applicable UK accounting standards have been followed, subject to any departures disclosed and explained in the financial statements; and
- prepare the accounts on a going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for maintaining 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 accounts comply with the Companies Act. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
All Trustees are required to act in accordance with the Festival’s governance arrangements and to make a declaration of related party transactions where their personal interests might conflict with those of the Festival. No such disclosures were made in respect of the year ended 31 March 2023.
Brian Godfrey McKenzie Trustee/Honorary Treasurer
Geoffrey Stephen Brown Chairman
Date: 16 November 2023
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**Goring and Streatley Festival Annual Report and Financial Statements for the year ended 31 March 2023**
## Independent examiner's report
I report to the trustees on my examination of the accounts of the above charity (“the Festival”) for the year ended 31 March 2023.
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Festival’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
- the accounting records were not kept in accordance with section 130 of the Charities Act; or
- the accounts did not accord with the accounting records; or
- the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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:
Name: Christopher Douglas Francis Mills Date: 16 November 2023
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## **Goring and Streatley Festival Annual Report and Financial Statements for the year ended 31 March 2023**
## Statement of Financial Activities
|tatement of Financial Activities||
|---|---|
|**Income and Expenditure**
Income from:
Charitable activities
Donations
**Total Incoming Resources**
Expenditure on:
Charitable activities
**Total Resources Expended**
**Net income (expenditure)**
Funds brought forward
**Funds carried forward**|**2022/23**
**2021/22**
**£**
**£**
65,906
4,205
32,435
13,254|
||**98,341**
**17,459**|
||80.859
4,107|
||**80,859**
**4,107**|
|||
||**17,482**
**13,352**|
||21,994
8,642|
||**39,476**
**21,994**|
Note
1. The Statement of Financial Activities includes all gains and losses in the year
2. All incoming and expended resources derive from continuing activities
For the financial year ended 31 March 2023, the company was entitled to an exemption from audit under section 477 Companies Act 2006 and no notice has been deposited under section 476.
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## **Goring and Streatley Festival Annual Report and Financial Statements for the year ended 31 March 2023**
## Balance Sheet
|alance Sheet||
|---|---|
|**Current Assets**
Invoiced Debtors
Prepayments and other debtors
VAT Debtor
Cash and Bank balances
**Current Liabilities**
Trade Creditors
VAT Creditor
Accruals and Deferred Revenue
**`**
**Net Assets**
**Representing:**
**Unrestricted Funds**|**2022/23**
**2021/22**
**£**
**£**
-
7,990
947
7,208
8,818
-
29,710
35,652|
||**39,476**
**50,850**|
||-
4,728
-
2,524
-
21,604|
||**-**
**28,856**|
|||
||**39,476**
**21,994**|
|||
||**39,476**
**21,994**|
## **Directors Responsibilities**
1. The Members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and
2. The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to the accounting records and preparation of the accounts.
The accounts are prepared in accordance with the special provisions relating to small companies with Part 15 of the Companies Act 2006.
Under the Charity’s Memorandum of Association all the Trustees become Members and there are no other Members besides the Trustees but there is nothing to stop anyone becoming a member under section 10 of the Charity’s Articles of Association.
Brian Godfrey McKenzie Geoffrey Stephen Brown Trustee/Honorary Treasurer Chairman Date: 16 November 2023
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**Goring and Streatley Festival Annual Report and Financial Statements for the year ended 31 March 2023**
## Notes to the Financial Statements
## **1. Accounting Policies**
## **(a) Basis of Accounting**
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in UK and Republic of Ireland (FRS 102) (effective 1 January 2015) (Charities SORP (FRS (102)); the Financial Reporting Standard applicable in UK and Republic of Ireland (FRS 102); and the Companies Act 2006.
## **(b) Income Recognition**
All income is recognised in the year the Charity has entitlement to it. Income received directly related to sponsorship and ticketing for future events is recognised in the period in which the applicable event takes place.
## **2. Company Status**
The Company is a private company limited by guarantee and consequently does not have share capital. Each of the Members is liable to contribute an amount not exceeding £1 towards the assets of the Company in the event of liquidation.
## **3. Trustees Remuneration**
The Trustees received no remuneration or benefits during the year.
## **4. Related Party transactions**
There have been no transactions with persons or entities that are closely connected to the charity or its trustees (2021/22: none)
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