STRATFORD LITERARY FESTIVAL A charitable incorporated organisation no.] 164662 TRUSTEES, REPORT & FINANCIAL STATEMENTS for the year ended 31 December 2023 CONTENTS Trustee5' Report Pages2-6 Independent Examiner's Report Pages7-8 Statement of Financial Activities Page 9 Statement of Financial Position Page 10 Notes to the financial statements Page 11 16 )fy. BaillieGifford- UNIVERSITYOF BIRMINGHAM irT CO
Stratford Uterary Festlval A charltable Incorporated organlsatlon no.I 164662 TRusfEES' REPORT for the year ended 31 December 2023 The trustees submlt thelr report and flnanclal statements for the year ended 31 December 2023. AJMS. OIJEcnvES & AcnvmES The alms and obJectlves of the charlty are.. to advance educatlon by promotlng and provldlng opportunltles for the appreclatlon. understandlng and enjoyment of Ilterature and the arts, In partlcular through promotlng and runnlng a Ilterary festlval and educatlonal outreach actlvltles prlmarlly In the Stratford-upon-Avon area. to provlde rellef to those at a soclal dlsadvantage because of age or111 health through Ilterary related actfvltles whlch are deslgned to relleve lonellness or Isolatlon and encourage a sense of purpose and self-worth. The Trustees conflrm that they have referred to the Charlty Commlsslon's guldance on Charltles and Publlc Beneflt when revlewlng the charlty's alms and objectlves. ACHIEVEMENTS & PERFORMANCE The Stratford Llterary Festlval's charltable alm Is to Inform and educate through the prornotlon of books, wrltlng and readlng. The Festlval marked 16 years In 2023 and dellvered a Ilve festlval In May and November. Audlences were back wlth confldence after the Covld dlsruptlon, and May 2023 proved to be our most flnanclally successful Festlval to date. The Autumn festlval also proved successful. We plcked up two further Lead Sponsors. We contlnued to dellver projects In schools wlth author vlslts, and to dellvered 6 workshops In prlsons. Our Books wlth Frlends rnonihly book group thrlved and Is over-subscrlbed wlth meetlngs back to face to face. Successful bld appllcatlons have proved a challenge as the credlt crlsls means there are more demands on Trusts and Foundatlons. but the festlval Secured unreserved local councll support and UK5PF levelllng up fundlng. Page 2
Stratford Uterary Festlval A chafftable Incorporated oryanlsatlon no.1 164662 for the year ended 31 t>ecember 2023 NANCKL RNEW The results for the year are set out In the annexed Statement of Flnandal Artlvltles. There was a surplus of £49,805 on the year's actfvltles. The balance sheetat the end of the year Is satlsfactory. The unrestrfcted reserves In hand are £47.136 whlch represents l 8% of Income. The trustees belleve that It Is prudent to hold reserves of 15% of Income to provlde a contlngency agalnst unexpetted shorrfalls In Income. whlch Is the prlmary rlsk faced by the charlty. The operatlng surplus for the year arlses prlmarlly because tlcket sales for both the Sprlng and Wlnter festlvals exceeded expertatlons. The charlty recebved a one-off grant of £20.000 from Stratford Dlstrlrt Councll and thls has been placed In a Deslgnated Fund to support artlvltles In 2024 and 2025, as there are concerns about the Ilkely level of tlcket and fundralslng Income In those rwo flnandal years. The Trustees belleve that the charlty can contlnue as a golng concem for at least the next rwelve months and that, as a result. no changes need to be made to thls Report and Flnanclal Sratements. The charlty's sources of funds are: Tlcket and book sales 144,393 Sponsorshlp Grants 61.21x1 30,839 Donatlons 12,460 Other Income 8.724 Total 257.616 Page3
Stratford Uterary Festlval A charltable Incorporated organlsatlon no.l 164662 TRusfEES' REPORT for the year ended 31 December 2023 Constltutlon Stratford Llterary Festlval Is a charltable Incorporated organlsatlon governed by Its Constltutlon. Thistees Anna Ashworth David Fletcher Phllip Heath (appointed 30th March 2023) Archie G Kane {reslgned 31si December 2023) Dlana Owen Madelelne Parker Julia Wheeler Apart from the flrst charlty trustees. every trustee must be appolnted for a term of three years by a resolutlon passed at a properly convened meetlng of the charlty trustees. In selecrlng Indlvlduals for appolntment as charlty trustees. the charfty trustees must have regard to the 5kllls, knowledge and experlence needed for the effectlve admlnlstratlon of the charlty. The charlty trustees wlll make avallable to each new charlty trustee, on or before hls or her flrst appolntment. a copy of the charlty's latest Trustees, Annual Report and Financlal Statements. the Charlty Commlsslon booklet about thelr legal obligatlons under charlty law. and a copy of the Consrltutlon. Remuneratlon to Anna Ashworth is glven for her servlces as the Dlrector of the Festtval, not for her dutles as a trustee. No expenses are paid to trustees for the fulfllment of thelr dutles as trustees. Anna Ashworth recetves reSmbursement of expenses Incurred as the Dlrector. Chlef Executlve Anna Ashworth Is Festlval Dlrertor and Chief Executive. Independent Examlners Cooper Adams Chartered Accountants. Reglstered In England & Wales. Company number 03861448. Banker5 Uoyds Bank plc. 25 Gresham Street, London EC2V 7HN. Reglsrered In England and Wales no. 2065. Charltvs prlnclpal address 33 Sanctus Road. Stratford-upon-Avon. CV37 9AE. Page4
Strarford Llterary Festlval A charltable Incorporated oryanlsatlon no.l 164662 TRUSTEES. REPORT for the year ended 31 December 2023 SUPIIORTERS Stratford Llterary Festlval Is very grateful to the following organlsatlons for their 5UPPOrt for our actlvlties In 2023 and 2024: Headllne Sponsor Balllle Glfford Strafftird-on-Avon D15tr1ct Councll Unlverslty of Blrnilngham Lead Sponsors Lodders Sollcltors Insplred Vlllages George Pragnell Spec5avers Event and Venue Sponsors FCN Group: Montpellier Gallery: CG Optlcal. OG Optlcal," Jackson West., Shakespeare MartSneau: Start Wlthln- Benchmark Grounds Malntenance Advertlsers Royal Shakespeare Company: WaNick Arts Centre. The Healthy Back Bag Company., Davld Hunt Llghtlng. TIM Cox Assoclates. Cooper Adams Chartered Accountants. Vaughan Reynolds. Barnfleld Homecare. Rathbones Investment Management: Stratford Bed Company Partners The Week: Headllne Books; Penguln Random House Spon$ors-In-klnd Prontaprlnt Stratford upon Avon: The Arden Hotel: MacDonald Alveston Manor Hotel., Crown Plaza Hotel Stratford.. Mercure Shakespeare Hotel: The Llmes Hotel., Welcombe Hotel Booksellers Waterstones Stratford upon Avon and Kenilworth Book5 Trusts Heart of England., The Allen Lane Foundatlon: The 29th May 1961 Charity: Willlam Cadbury Trust: Executors of the Felix Dennis Estate. Rlgby Foundatlon: The Seccombe Trust Page5
Stratford Llterary Festlval A charltable Incorporated organlsatlon no.1 164662 TRUSTEES. REPORT for the year ended 31 December 2023 TRUSTEES, RESPONSIBILMES IN RELATION TO THE FINANCIAL STATEMEKrs Statement of Trustees, responslbllltles In respect of the Flnanclal Statements The trustees are responslble for preparing the Trustees, Report and rhe flnanclal statements In accordance wlth appllcable law and Unlted Klngdom Accountlng Standards Iunlted Klngdom Generally Accepted Accountlng Practlcel. The law appllcable to charltle5 In England and Wales requlres the trustees to prepare flnanclal starements for each flnanclal perlod whSch glve a true and falr vlew of the state of affalrs of the charity and of the Incomlng resources and appllcation of resources of the charlty for that perlod. In preparlng these flnanclal statements, the trustees are requlred to: select 5ultable accountlng pollcles and then apply them conslstently., observe the methods and prlnclples of the Charltles SORP 2019 IFRS 102) make Judgements and estlmate5 that are reasonable and prudent., state whether appllcable accounting standards have been followed, subject to any materlal departures dlsclosed and explalned In the flnanclal statement5', prepare the flnanclal sratements on the golng concern basls unless It Is Inapproprlate to presume Ihat the charlty wlll contlnue In operatlon. The trustee5 are responslble for keeplng accountlng records whlch dlsclose wlth reasonable accuracy at any tlme the flnanclal posltlon of the charity and to enable them to ensure that the flnanclal statements comply wlih the Charitle5 Act 2011, the Charity (Accounts and Reports) Regulatlons 2008 and the provisions of the Constltutlon. They are also responslble for safeguardlng the assets of the charlty and hence for taklng reasonable steps for the prevention and detectlon of fraud and other Irregularitles. Approved by the Board on 30 September 2024 Slgned by Davld Fletcher on behalf of the Board of Trustees Page 6
Strdtford Uterary Festlval A charltable Incorporated organlsatlon no.I 164662 INDEPENDEKf EWINER'S REpoKr for the year ended 31 December 2023 Ind•pendent oxamln•es rnport to th• trust•u of Stratlord Uterary Festlval ftha Charlty) I report to the charlty trustees on my examlnatlon of the accounts of the Charfty for the year ended 3 7 December 2023 whlch are set out on pages 9 to l 6. Responslbllltles and basls of rport As the charlty's trustees of the Charlty you are responslble for the preparatlon of the accounts In accordance wlth the requlrements of the Charltles Act 2011 ('the Act,). I report In respect of my examlnatlon of the charlty's accounts carrled out under sectlon 145 of the Act and In carrylng out my examlnatlon I have folltred all the appllcable Dlrectlons glven by the Charlty Commlsslon under sectlon 145(5) (b) of the Act. Independent oxamlnerfs statement I have cornpleted my examlnatlon. I conflm that no matters have come to My attentlon In connectlon wlth the examlnatlon glvlng me cause to belleve that In any materlal respert: accountlng records were not kept In respect of tho charlty as r¢qulrod by sectlon 130 of the Act or 2. the accounts do not accord wlth those records or 3. the accounts do not cornply wlth the accountlng requlrements concernlng the form and content of accounts set out In the Charltles (Accounts and Reports) Regulatlons 2008 other than any requlrement that the account5 glve a 'true and falr vlew, whlch Is not a matter consldered as part of an Independent examlnatlon. I have no concems and have come across no other matters In connectlon wlth the examlnatlon to whlch attentlon should be drawn In thls report In order to enable a proper understandlng of the accounts to be reached. Page 7
Stratford Llterary Festlval A charltable Incorporated organlsatlon no.l 164662 INDEPENDEKf EXAMINER'S REPORT for the year ended 31 December 2023 Davld C Cooper FCA For and on behalf of Cooper Adams Ltd Chartered Accountants 12 Payton Street Stratford upon Avon Warwlckshlre CV37 6UA Date: 30 September 2024 Page 8
Stratlord Llterary Fesuval A charltable Incorporated organlsatlon no.I 164662 srATEMEKf OF FINANCIAL AcfMTIES for the ended 31 December 2023 Unrostrlcted Income Dulgnated funds funds fvnds Total 2022 2023 Incomlng resources Donatlons and legacles Charltable acrlvltles 8.998 14.301 20,000 43.299 22,760 210,117 4.200 214,317 147,524 Toral 219.115 18.501 20.000 257.616 170,284 Resources expended Ralslng funds Charltable actlvltles 12.475 12,475 9.438 176.835 18,501 195,336 163.562 189.310 18.501 207.811 173.000 N¢t Incomel(•xp•ndltur•) 29.805 20.0fy) 49.805 <2.716) Transfers between funds Nat m(mfflent In funds 29.80S zo.000 49.80S (2.716) Recoftclllatlon of fvnds: Total funds brought fornard Total fvnds carrled foThvard 17.331 17,331 20,047 47.136 20.000 67,136 17,351 The notes on pages l I to 16 forni part of these flnanclal statements. Page 9
Stratford Llterary Festtval A charltable Incorporated organlsatlon no.l 164662 srATEmEf OF FINANCIAL POSITION As at 31 December 2023 Restrlcted Income Deslgnated funds funds Unrestrfcted funds Total 2023 Total 2022 Notes Current Assets Debtors & Prepayment5 Cash at bank 17,46S 17,465 2,334 91,362 20.000 111,362 39.258 Total 108.827 20,000 128,827 41,592 Credltors: amounts falllng due wlthln one year Net current assets/lllabllltles) io 61,691 61.691 24,261 47,136 20,000 67.136 17,331 Total net assets 47,136 20,000 67,136 17,331 Funds of the Charlty 13 Resrrlcted Income funds Deslgnated funds Unrestrlcted funds 20.000 20,000 47,136 47,136 17,331 Total fund5 47.136 20.000 67.136 17.331 The notes on pages I I to 16 form part of these flnanclal staternents. Approved by the Board on 30 September 2024 Slgned by Davld Fletcher on behalf of rhe Board of Trustees Page io
Stratford Uterary Festlval A charftable Incorporated organlsatlon no.I 164662 NOTES TO THE FINANCIAL STATEMEKrs for the year ended 31 December 2023 NOTE I - BASIS OF PREPARATION The flnanclaj statements are prepared on a golng concern basls under the hlstorlcal c05t conventlon, wlth Items recognlsed at cosi or transacrlon value unless otherwlse stated In the relevant notels) to these accounts. The charlty constltutes a publlc benefft entlty as deflned by FRS 102. The flnanclal statements have been prepared In accordance wlth the Charltles SORP (FRS 102) 'Accountlng and Reportlng by Charltles: Statement of Recommended Practlce appllcable to charltles preparfng thelr accounts In accordance wlth the Flnanclal Reportlng Standard appllcable In the UK and Republlc of Ireland (FRS 102) leffectlve I January 2019),. Flnanclal Reportlng Standard 7 02 'The Flnanclal Reportlng Standard appllcable In the UK and Republlc of Ireland, and the Companles Act 2006. The charlty has taken advantage of the followlng dlsdosure exemptlon In preparlng these flnanclal statements as permltted by FRS 102 'The Flnanclal Reportlng Standard appllcable In the UK and Republlc of Ireland,: the requlrements of Sectlon 7 Statement of Cash Flows. NOTE 2 - AccouKllNG POUCIES Income Income Is Included In the Statement of Flnandal Actfvltles when the charlty becomes entltled to the resources, and when It Is more Ilkely than not that the trustees wlll recelve the resources, and when the monetary value can be measured wlth sufflclent rellablllty. There has been no offsertlng of assets and Ilablllties, or income and expenses. unless requlred or pemiltted by the FILS 102 or SORP. Grants and donatlons are onty Included In the SOFA when the general Income recognltlon crlterla are met. Contrartual Income and performance related grants are onty Included In the SOFA once the charlty has provlded the related goods or seThlces or met the performance related condlrlons. Donated ser¥lces and faclllties rhar are consumed Immedlately are recognised as Income wlth an equlvalent amouni recognlsed as an expense under the approprlate headlng In the SOFA. The value of any voluntary help recelved Is not Included in the accounts but Is descrlbed In the trustees, annual report. 2.2 Expendlture and Uabllltles Llabllltles are recognlsed where It Is more Ilkefy than not that there Is a legal or constructlve obligatlon commlttlng the charlty to pay out resources and the amount of the obligatlon can be measured with reasonable certainty. The charlty has credltors whlch are measured at settlement amounts less any trade dlscounts. Pageu
Strdtford Llterary Fe5tlval A charltable Incorporated organlsatlon no.I 164662 NOTES TO THE FINANCIAL sfATEMEKrs for the year ended 31 December 2023 2.3 Assets Debtors are measured on initlal recognltlon at settlernent arnount after any trade dlscounts. Subsequentty. they are measured at the cash or other conslderation expected to be received. 2.4 Funds Unrestrlcted funds are avallable for use at the dlscretion of the trustees in furtherance of the general objectives of the charlty and whlch have not been designated for other purposes. Restrlcted funds are funds whlch are to be used in accordance wlth spedflc restrlctlons Imposed by donors or whlch have been ralsed by the charity for partlcular purposes. The cost of ralslng and admlnlsterlng such funds are charged agalnsr the speaftc fund. The alm and use of each restrltted fund is set out In the notes to the flnancial statemenis. Total 2023 Totsl 2022 funds funds funds NOTE 3 - ANALYSIS OF INCOME Donatlons and legacles Donatlons and glfts General grants provided g¢)vernmentlother tharltles Donated goods. facllltles and services 8,998 3.462 12.460 9,260 10.839 20.000 30.839 8,000 5,500 8.998 14,301 20.000 43.299 22.760 Charltable actmtles Tlcket and ljook sales 144,393 144,393 76,062 Sponsorshlp Advertlslng Schools programme Prlsons programme Other 55,700 55.700 54,900 5.500 5.500 4,700 600 600 4,545 4.200 4.200 6.367 3.924 3,924 950 210.117 4.200 214,317 147.524 Page12
Stratford Uterary Festlval A tharftable Incorporated organ15atlon no.I 164662 NOTES TO THE FINANCIAL STATEMEKrs for the year ended 31 December 2023 Unrestrfcted Restrlcted fvnds Income funds Total 2023 Total 2022 NOTE 4 - DONATED GOODS, FACIUTIES AND SERVICES Use of property Webslte support 5.500 5,500 Donated goods. facllltles and servlces are valued at market rates. NOTE 5 - ANALYSIS OF EXPENDITURE Ralslng fund5 Dlrettor's salary costs Fundra151ng costs io,000 2,475 12,475 io,000 2.475 6,000 3,438 9.438 12.475 Charltable actfvltles Authors and performers Venue Hlre 41.534 40,961 2,773 7.834 17.705 2.535 41.534 40,967 2,773 7,834 17,705 2.535 6,524 2.962 1.345 I s.000 11,562 33,877 10.724 30,548 30.650 2.379 7.446 23.261 4.515 Book purchases Staff costs Other Festlval costs Schools programme Prlsons programme Books wlth frlends 6,524 2.962 ,345 2,000 6,227 3,616 3,852 9.000 7.884 23,876 10.308 Other Projecrs Dlrectovs salary c05tS Other staff 13.000 11,562 29,127 9.804 Marketlng and PR Overheads 4,750 920 176.835 18.501 195,336 163.562 NOTE 6 - DEfAILS OF CERTAIN ITEMS OF EXPENDITURE Independent examlner's fee 2,000 2,000 2.000 1,800 2,000 1.800 Page
StratFord Uterary Festlval A charltable Incorporated organisatlon no.I 164662 NOTES TO THE FINANCIAL STATEMEKrs for the year ended 31 December 2023 2023 2022 NOTE 7 - PAID EMPLOYEES Staff Costs Salarles and wages Soclal securlty Costs Total staff costs 37,765 24.974 37,765 24.974 No employees recelved employee beneflts lexcludlng employer penslon costs) for the reportlng perlod of more than £60.000 Total amount pald to key management personnel (Includes trustees and senlor managemenr) for thelr servlces to the charlty 26,300 17.200 Avernge head count In the The parts of the charfty In whlch the employees work Fundralslng Charftable AcrEvltles Total NOTE 9 - DEBTORS AND PREPAYMENTS Trade debtors 16,446 Prepayments and accrued Income 1,019 2,334 Total 77.465 2,334 All amounts fall due wlrhln one year NOTE I O - CREDrroRS AND ACCRUALS Trade credltors Payment5 received on account for contracts or performance-related grants Accruals and deferred Incomè 45.544 12.998 7,433 8,140 Taxatlon and social securlty Total 8,714 3,123 61.691 24.261 Allamounts falldue wlthin one year Page14
Stratford Llterary FesUval A charltable Incorporated organlsatlon no.1 164662 NOTES TO THE FINANCIAL sfATrIEpirs for the year ended 31 December 2023 2023 2022 NOTE I I - CASH AT BANKAND IN HAND Short term deposlts Cash at bank and on hand 70,557 40.805 39.258 111.362 39.258 NOTE 12 - FAIR VALUE OF ASSEfs AND UABILMES Debtors still outstandlng at the date of slgnlng this reporr are less than £l.000 (2022: £nll) and there are no financlal Instruments or imiestments SO the charlty carrles no rlsk In these areas. NOTE 13 - CHARITY FUNDS Fundbalances brought fonvard Income Expen- Fundbalances dlture fransfers carrled fotward Fund names Restrlcted funds Books wlth Frtends 2.962 2.962 Fellx Dennls Prlze 1.500 i.soo Prlsons Project 8,924 8.924 Levelllng up 5.115 5.115 18.501 18.501 Deslgnated Funds Unrestrlcted funds 20.000 20,000 17,331 219.115 189,310 47,136 17,331 257.616 207.811 67.136 Restrfrtedfunds." Book th Frlends Is a monthty book group for older and soclally Isolated people In the communlty. Fellx Dennls Prize funds the Young Poets Competition. Prlsons Projert sends authors into prlsons ro help Inmates wrlte bedtlme storles for their chlldren. Levelllng up funds bulldlng audiences to brlng people to Stratford for the benefit of the town. Deslgnatedfvnds." The grant from Stratford Dlstrlct Council has been deslgnated to SUPPOrt operatlons In 2024 and 2025
Stratford Uterary Festlval A charltable Incorporated organlsatlon no.l 164662 NOTES TO THE FINANCIAL STATEMEKrs for the year ended 31 December 2023 NOTE 14 - TRANSAcfioNS wrrH TRUSTEES AND OTHER RELATED PARTIES Trustee remuneratlon and beneffts rnistee n47me Legal aurhorlty Remuneratlon Pension Other TOTAL Annle Ashworth Governlng document 26.300 26.300 Remuneratlon to Annle Ashworth Is made for her servlces as the Director of the FestSval. not for her dutles a5 a trustee. No expenses are pald to trustees for the fulfllment of thelr dutles as trustees. Annie Ashworth recelves relmbursement of expenses Incurred as the Dlrertor. Transa¢tlons wlth related partles Name of the trustee orrelated party None L>escrlptlon of transactsonlsj Relatlonshlp to charlty Amount Occaslonally donatlons are given by trustees. No beneflts are glven lft return for these donations. Page 16