CHARITY COMMISSION FOR ENGLAND AND WALES Trustees, Annual Report for the period From 1 January 2023 Period start date To end date 31 December 2023 Period Charity name: Isle of Wight Literary Festival Charity registration number: 116481 Objectives and Activities SORP refferer￿e Summary ofthe purposes of the charity as set out in its goveming document Para 1.17 The objects of the CIO are: al to promote the arts for the public benefrt. and in particular the art of literature, by the establishment and maintenance of an annual arts festival bl to 3dvancÈ the education of the public bv promoting and providing opportunities for the appreciation. understanding and enjoyment of literature. The festival featured over 40 speakers presenting sessions on a variety of topics from fiction, history, politics, archaeoloEV, and current events. The wide range of subjects encourages a more diverse audience who are then able to take advantage of expanding their horizons by attending sessions that they might not have otherwise. Summary ofthe main activities in relation to those purposes for the public benefit, in particular, the activib"es. projects or services identified in the accounts. Para 1.17arNI We re-introduced our Schools Programme, which had been in abeyance due to the pandemic. Over 1,500 students were educated and inspired by the authors and illustrators who comprised the programme. LitFeast, a new element, was added to the programme. Featuring cooking demonstratrons and cookery writers, the LitFeast attracted an audience that might not otherwise attend a literary festival. We filmed a number of talks for our YouTube channel. This built upon the two years of digital festivals and extended the appreciation, understanding and enjoyment of the festival beyond four days. In addition this form of communication introduced a worldwide audience to the festival. Statement confimiing whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit Para 1.18 The Trustees declare that they have had regard to the guidance from the Charity Cornmission in running the festival for the benefit of the public. Additional infomiation (optional) You ma choose to include further statements where relevant about.. SORP reference Para 1.38 Policy on grant making Par8 1.38 Policy on social investment including program related investment The festival is run entirely by volunteers. A core of volunteers curates the programme, markets the event, secures funding by seeking sponsorship, grants and holds an annual literary lunch featuring a raffle and aurtion. More than 50 volunteers undÈrlake the activities necessary to manage the four-day festival. PaFa 1.38 Contribution made by volunteers Other Achievements and Performance SORP reference The festival exposes people to new ideas, and encourages people to leam more about a subject. It brings people of different social, economic and ethnicity together. The festival provides a plafform for first time as well as established authors. Summary ofthe main achievements of the charity, identifying the difference the charity's work has made to the circumslances of its beneficiaries and any wider benefits to society as a whole. Para 1.20 Our schools, programme sparks creativity and enthuses pupils to expand their horizons. It is not unusual for pupils to realise that they can be an author. a poet or a storyteller. Volunteering is an important aspect of the festival. It gives the volunteers a sense of achievement and an opportunity to leam new skills_ Volunteers often forni new friendships. Many sectors of the island economy depend upon tOUri5m. Held in October. the festival extends the season by giving tourists a reason to V151t the island. Additional information (optional) You ma choose to include further statements where relevant about". Achievements against objectives set Para 1.41 Performance of fundraising activities against objectives set Pata 1.41 Investment performance against objectives Parn 1.41 Other Financial Review Review of the charity's financial position at the end of the period Statement explaining the policy for hoSding reserves stating why they are held 31.12.2023 The Charity secured funds sufficient to enable it to meet its financial obligations until fundraising for the next Èvent The Charity aims to end its financial year with suffitient reserves to initiate the commencement of the following yearfs festival. Amount of reserves held Reasons for holding zero reseTves Details of fund materially in deficit Explanation of any Un￿rtaIntieS about the charity continuing as a going con￿rn 9,964 n/a While ticket sales fund the majority of the festival's cost. the festival depends on donations, sponsorship and grants to cover the cost of the festival. Additional infonnation (optionall You ma choose to includé fvrthér statèments whère relèvant about-. The charity's principal sources of funds (including any fundraising) P8Ta 1.47 Investment policy and objectives including any social investment policy adopted Pdia 1 46 A description of the principal risks facing the charity P8r8 1.46 Other structure, Governance and Management Description of charity's trusts.. Type of goveming document Para 1.25 Foundation model constitution How is the chanty constituted? le. g unincorporated Para 1.25 Charitable Incorporate(5 Organisatron