2021-03-31-accounts - Bristol Pride

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Charity no. 1166817

Bristol Pride Report and Unaudited Financial Statements

31 March 2021

Bristol Pride

Reference and administrative details

For the year ended 31 March 2021

Charity number 1166817 Registered office Kambe House 34 Portland Square Bristol BS2 8RG Trustees The trustees are who served during the year and up to the date of this report were as follows: Ross Oliver Harrison Freddie Daw Jayne Graham-McMorrow Chief executive officer Daryn Carter Bankers HSBC Grosvenor Court 149 Whiteladies Road Bristol BS8 2RR Independent Godfrey Wilson Limited examiners Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD

Bristol Pride

Report of the trustees

For the year ended 31 March 2021

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the Constitution and the Statement of Recommended Practice - Accounting and Reporting by Charities (effective from January 2019).

Structure, governance and management

The charity is constituted as a Charitable Incorporated Organisation (CIO) registered with the Charity Commission in England and Wales under registration number 1166817 and governed by its constitution dated 28 April 2016.

Trustees are appointed by election at formal meetings of existing trustees as laid out in the constitution. All trustees were appointed at creation of the charity. The current trustees are at the minimum required by constitution; during this year the trustees have formally agreed a series of amendments to the constitution to enable the growth and sustainable workings of the trustees in future.

Objectives and activities

Bristol Pride is a charity which campaigns for equality; challenges discrimination; creates opportunity for engagement and participation; celebrates lesbian, gay, bisexual and transgender life; and works to enrich and empower LGBT+ organisations, charities and communities in the Bristol Region.

Bristol Pride also works all year round to promote our aims and objectives, deliver a programme of schools’ engagement and, through Pride Day, offer the chance for many service providers to reach target markets, and enables the opportunity of support to the community through the Pride Day Community Area.

Bristol Pride delivers an annual programme of Lesbian, Gay, Bisexual and Trans (LGBT+) events in Bristol. This includes the LGBT History Month, World AIDS Day, events recognising International Day Against Homophobia, Biphobia and Transphobia (IDAHOT), Queer Vision Film Festival and the flagship Bristol Pride Festival which includes a week of events across a range of arts and culture and the annual Pride Weekend.

Bristol Pride is run by volunteers and main delivery is by a small team to deliver the charity's objectives to campaign for LGBT equality and challenge discrimination, create opportunities for engagement and participation and celebrate LGBT+ life.

Achievements and performance

As had been planned at the beginning of the COVID-19 pandemic, Bristol Pride’s events for 2020 were moved online. We successfully held a livestreamed version of the Parade and Pride Day, with a mixture of highlighted acts remembering the past 10 years of Pride, and new acts with an emphasis on providing a space to celebrate LGBT+ people from an even greater range of backgrounds, cultures, beliefs and identities.

We also had the opportunity to explore further online and community-generated content, growing the range of events we hold to include a QTIPOC Inter-City gathering, a virtual comedy night, drama from the House of Mannington, a Dog (+Other) show, Gaming Day, Queer Vision panel discussion, Drag Queen Story Time and Story Hour, and an Adventure Workout at home. A regular addition to Queer Vision is Sofa Club, where we have created a space for the community to watch and reflect on LGBT+ shows.

Bristol Pride

Report of the trustees

For the year ended 31 March 2021

Supporting the LGBT+ groups in Bristol is an important part of Bristol Pride’s mission, and so we continued to hold a monthly virtual meeting of interested groups, including representatives from Kiki and Trans Pride South West, to hear from a wider community and generate new events, ideas and relationships.

We have continued to focus on the long-term sustainability of the Pride team, and have employed Ollie Ley for Admin and Design, Andrew Roberts as Marketing and Communications Manager, and Rebecca Ballard as Queer Vision Producer. Steph is continuing as Volunteer Coordinator and Daryn continues as Programming and Sponsorship Manager alongside Eve as Festival Director.

The events mentioned above during the Pride Day and Festival period deliver the main aims of the charity, presenting the largest and most visible celebration of LGBT+ people in Bristol and the South West, and being the largest resource for organisations of all sizes to connect and educate the LGBT+ community. Year-round Bristol Pride meets these aims by attending or hosting events that promote equality and diversity in the city.

Public benefit

The trustees confirm their due regard for the Charity Commission Guidance on Public Benefit in reviewing Bristol Pride’s aims, objectives and activities undertaken, planning future strategy and setting policy.

COVID-19 impact

With the continued COVID-19 pandemic, meetings were held by the trustees, Eve and Daryn, to discuss impact. In March 2021 it was decided that Pride 2021 will be a mixture of physical and online events, to be able to remain flexible and responsive to changing restrictions and minimise potential losses, while ensuring that our community can safely come together, which is needed now more than ever. We will hold a socially distanced parade at the usual time in July, followed by a provision of space and facilities in Castle Park for attendees to remain if they wish, with no festival acts organised. After-parade events will be held across the city. Pride will last the fortnight, with a mixture of smallscale events which will conform to safety measures and provide some critical support to our venues and community. Eve and Daryn created documents to show viability of all outcomes, i.e. no festival, online festival, half-capacity festival. Emergency sources of funding have been identified and applied for.

The accounts have been prepared on the assumption that the charity is able to continue as a going concern, which the trustees consider appropriate having regard to future confirmed funding, revised budgets for 2021/22 and cash balances at the signing date. The COVID-19 pandemic has had a profound impact on the global economy, and has in turn affected the charity. The trustees have considered the impact of this issue on the charity’s current and future financial position.

The charity has obtained Emergency Relief funding of £33,790 and Cultural Recovery Funding of £50,273 from the Arts Council during this period, as well as CRF Round 2 funding of £65,866 to be spent in the 2021/22 period. In addition, many 2020 funders agreed for the charity to carry over funds intended for the 2020 festival to 2021/22. The trustees therefore consider that the charity is a going concern for a period of at least 12 months from the date on which these financial statements are approved.

Bristol Pride

Report of the trustees

For the year ended 31 March 2021

Financial review

Income and expenditure during the year: Total income: Total expenditure: Net income	2021 £ £196,611 (£110,022) £86,589	2020 £ £459,241 (£410,078)
		£49,163

Reserves policy

Unrestricted reserves held at 31 March 2021 are £178,166. Due to the charity usually taking and spending the majority of its funds over the first 6 months of the year the unrestricted funds are held to cover the running costs (i.e. office space and staff costs) for the autumn and winter periods when there is little to no income. The unrestricted funds are aimed to be kept above £150,000 after all event expenses for the July festival are covered.

With the impact of COVID-19 it is considered that it is needed to run a festival to have any income to cover staff costs, as most funding is in forms of donation or sponsorship, and to apply for emergency funding to cover the loss of income caused by the pandemic and potential loss of physical events.

Statement of responsibilities of the trustees

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees are 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, including the net income or expenditure, of the charity for the year. In preparing those financial statements the trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP;
make judgements and accounting estimates that are reasonable and prudent;
state whether applicable accounting standards and statements of recommended practice 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 proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which 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 constitution. The trustees 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.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Bristol Pride

Report of the trustees

For the year ended 31 March 2021

Members of the charity have no liability to contribute to the assets of the charity in the event of winding up. The trustees are members of the charity, but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

Independent examiners

Godfrey Wilson Limited were re-appointed as independent examiners to the charity during the year and have expressed their willingness to continue in that capacity.

Approved by the trustees on 22 November 2021 and signed on their behalf by

Freddie Daw Trustee

Independent examiner's report

To the trustees of

Bristol Pride

I report to the trustees on my examination of the accounts of Bristol Pride (the CIO) for the year ended 31 March 2021, which are set out on pages 7 to 18.

Responsibilities and basis of report

As the charity trustees of the CIO 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 CIO’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.

Independent examiner’s statement

Godfrey Wilson Limited also provides payroll services to the CIO. I confirm that as a member of the ICAEW I am subject to the FRC’s Revised Ethical Standard 2016, which I have applied with respect to this engagement.

I have completed my examination. I confirm that no material 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 CIO as required by section 130 of the Act; or
(2) the accounts do not accord with those records; or
(3) the accounts do 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.

Date: 22 November 2021

Rob Wilson FCA

Member of the ICAEW For and on behalf of: Godfrey Wilson Limited Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD

Bristol Pride

Statement of financial activities

For the year ended 31 March 2021

Restricted Unrestricted Note £ £ Income from: Donations (inc. grants) 3 111,968 81,145 Charitable activities 5 - 3,470 Other trading activities 6 - - Investments - 28 Total income 111,968 84,643 Expenditure on: Raising funds - 4,722 Charitable activities 83,738 21,562 Total expenditure 7 83,738 26,284 Net income 28,230 58,359 Transfers between funds (25,300) 25,300 Net movement in funds 8 2,930 83,659 Reconciliation of funds: Total funds brought forward - 94,507 Total funds carried forward 2,930 178,166	2021 Total £ 193,113 3,470 - 28 196,611 4,722 105,300 110,022 86,589 - 86,589 94,507 181,096	2020 Total £ 310,229 40,199 108,713 100
		459,241
		3,109 406,969
		410,078
		49,163 -
		49,163 45,344
		94,507

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 15 to the accounts.

Bristol Pride

Balance sheet

As at 31 March 2021

Note Current assets Debtors 11 Cash at bank and in hand Liabilities Creditors: amounts falling due within 1 year 12 Net current assets Net assets 14 Funds 15 Restricted funds Unrestricted funds General funds Total charity funds	£ 33,541 153,659 187,200 6,104	2021 £ 181,096 181,096 2,930 178,166 181,096	2020 £ 46,537 73,690
			120,227 25,720
			94,507
			94,507
			- 94,507
			94,507

Approved by the trustees on 22 November 2021 and signed on their behalf by

Freddie Daw Trustee

Bristol Pride

Notes to the financial statements

For the year ended 31 March 2021

1. Accounting policies

a) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

Bristol Pride meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

b) Going concern basis of accounting

c) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from the government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received in advance of the Bristol Pride Festival is deferred until criteria for income recognition are met.

d) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the bank.

Bristol Pride

Notes to the financial statements

For the year ended 31 March 2021

1. Accounting policies (continued) e) Donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item, is probable and the economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

f) Funds accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.

g) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

h) Allocation of support and governance costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities in the same proportions as direct costs:

	2021	2020
Raising funds	5.9%	5.9%
Charitable activities	94.1%	94.1%

i) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

j) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Bristol Pride

Notes to the financial statements

For the year ended 31 March 2021

1. Accounting policies (continued)

k) Creditors

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

l) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently recognised at amortised cost using the effective interest method.

m) Accounting estimates and key judgements

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

There are no key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements.

2. Statement of financial activities: prior period comparatives

Income from: Donations Charitable activities Other trading activities Investments Total income Expenditure on: Raising funds Charitable activities Total expenditure Net income and net movement in funds	Restricted Unrestricted £ £ 25,167 285,062 - 40,199 - 108,713 - 100 25,167 434,074 - 3,109 25,167 381,802 25,167 384,911 - 49,163	2020 Total £ 310,229 40,199 108,713 100
		459,241
		3,109 406,969
		410,078
		49,163

Bristol Pride

Notes to the financial statements

For the year ended 31 March 2021

3. Income from donations

Donations (including wristbands) Sponsorship Grants Total income from donations Prior period comparative: Donations (including wristbands) Sponsorship Grants Total income from donations	Restricted £ £ - 4,895 - 76,250 111,968 - 111,968 81,145 Restricted £ £ - 203,662 - 81,400 25,167 - 25,167 285,062 Unrestricted Unrestricted	2021 Total £ 4,895 76,250 111,968
		193,113
		2020 Total £ 203,662 81,400 25,167
		310,229

4. Government grants

The charity receives government grants, defined as funding from Bristol City Council and Arts Council England to fund charitable activities. The total value of such grants in the period ending 31 March 2021 was £104,336 (2020: £25,167).

Bristol Pride

Notes to the financial statements

For the year ended 31 March 2021

5. Income from charitable activities

Income from charitable activities
Festival tickets Exhibition Parade Community stalls Pride Week events Training Total income from charitable activities	Restricted £ £ - - - - - 2,700 - 130 - - - 640 - 3,470 Unrestricted	2021 Total £ - - 2,700 130 - 640 3,470	2020 Total £ 14,763 10,010 8,029 4,250 3,147 -
			40,199

All income from charitable activities in the prior period was unrestricted.

6. Income from other trading activities

Restricted £ £ Bar - - Festival sponsorship - - Market stalls - - Total income from other trading activities - - Unrestricted	2021 Total £ - - - -	2020 Total £ 80,928 20,000 7,785
		108,713

All income from other trading activities in the prior period was unrestricted.

Bristol Pride

Notes to the financial statements

For the year ended 31 March 2021

7. Total expenditure

Total expenditure
Raising funds £ Staff costs (note 9) 3,611 Other staff costs - Office costs - Advertising and marketing - Artist fees - Event management costs - Other event costs - Accountancy - Sub-total 3,611 1,111 Total expenditure 4,722 Total governance costs were £1,440 (2020: £1,380) Prior period comparative Raising funds £ Staff costs (note 9) 1,329 Other staff costs - Fundraising 678 Office costs - Advertising and marketing - Artist fees - Event management costs - Other event costs - Donations - Accountancy - Sub-total 2,007 1,102 Total expenditure 3,109 Allocation of support and governance costs Allocation of support and governance costs	Charitable activities £ £ 57,776 10,833 - 996 - 4,947 9,338 - 5,045 - 13,160 - 2,210 - - 2,106 87,529 18,882 17,771 (18,882) 105,300 - Charitable activities £ £ 21,278 3,990 - 882 - - - 12,484 8,323 - 87,170 - 73,025 - 198,539 - 1,000 - - 1,380 389,335 18,736 17,634 (18,736) 406,969 - Support and governance Support and governance	2021 Total £ 72,220 996 4,947 9,338 5,045 13,160 2,210 2,106
		110,022 -
		110,022
		2020 Total £ 26,597 882 678 12,484 8,323 87,170 73,025 198,539 1,000 1,380
		410,078 -
		410,078

Bristol Pride

Notes to the financial statements

For the year ended 31 March 2021

8. Net movement in funds

This is stated after charging:

Trustees' remuneration Trustees' reimbursed expenses Independent examiners' remuneration: Independent examination (including VAT)	2021 £ Nil Nil 1,440	2020 £ Nil Nil 1,380

9. Staff costs and numbers

Staff costs were as follows:

Gross salaries Pension costs Freelance staff	2021 £ 45,688 442 26,090 72,220	2020 £ 3,500 37 23,060
		26,597

No employee earned more than £60,000 during the year.

The key management personnel of the charity comprise the Trustees, the Chief Executive Officer and the Festival Director. The total employee benefits of the key management personnel were £42,443 (2020: £25,170, restated). Note that all staff were employed as freelancers prior to March 2020.

Average head count	2021 No. 2.50	2020 No. 1.25

10. Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

11. Debtors

Trade debtors Prepayments	2021 £ - 33,541 33,541	2020 £ 23,500 23,037
		46,537

Bristol Pride

Notes to the financial statements

For the year ended 31 March 2021

12. Creditors: amounts due within 1 year

12. Creditors: amounts due within 1 year
Trade creditors Accruals Deferred income (see note 13) Taxation and social security Other creditors 13. Deferred income At 1 April 2020 Deferred during the year Released during the year At 31 March 2021	2021 £ 3,009 1,440 - 818 837 6,104 2021 £ 23,500 - (23,500) -	2020 £ - 1,380 23,500 741 99
		25,720
		2020 £ - 23,500 -
		23,500

Deferred income relates to income received in advance for the Bristol Pride Festival which takes place over the summer.

14. Analysis of net assets between funds

Current assets Current liabilities Net assets at 31 March 2021 Prior year comparative Current assets Current liabilities Net assets at 31 March 2020	£ 2,930 - 2,930 £ - - - Restricted funds Restricted funds	£ 184,270 (6,104) 178,166 £ 120,227 (25,720) 94,507 Unrestricted funds Unrestricted funds	Total funds £ 187,200 (6,104)
			181,096
			Total funds £ 120,227 (25,720)
			94,507

Bristol Pride

Notes to the financial statements

For the year ended 31 March 2021

15. Movements in funds

At 1 April 2020 £ Restricted funds Bristol City Council - LGBT Consortium - ACE - Culture Recovery fund - ACE - COVID grant - University of Bristol - BFI fan exhibition - Total restricted funds - General funds 94,507 Total unrestricted funds 94,507 Total funds 94,507 Unrestricted funds	Income £ 25,300 1,960 45,246 33,790 1,172 4,500 111,968 84,643 84,643 196,611	£ - (1,960) (45,246) (33,790) (1,172) (1,570) (83,738) (26,284) (26,284) (110,022) Expenditure	£ £ (25,300) - - - - - - - - - - 2,930 (25,300) 2,930 25,300 178,166 25,300 178,166 - 181,096 Transfers between funds At 31 March 2021	£ £ (25,300) - - - - - - - - - - 2,930 (25,300) 2,930 25,300 178,166 25,300 178,166 - 181,096 Transfers between funds At 31 March 2021
				2,930
				178,166
				178,166
				181,096

Purposes of restricted funds

Bristol City Council

Funding was provided by Bristol City Council as part of the Imagination Key Arts Provider funding. Bristol Pride presented a proposal to support the sustainability and growth of the festival which included actions such as development workers time and support for volunteer management and recruitment. It also supported direct action to improve accessibility at the festival for patrons with disabilities and community outreach to older and BAME LGBT+ members for the community.

LGBT Consortium

Funding used to pay for a theatre production.

ACE - Culture Recovery fund

Supporting us to diversify and deliver events during the Covid pandemic - this covers office costs, salaries, web hosting, other core costs and project costs for our online events.

ACE - COVID grant

Emergency relief funding from Arts Council England.

University of Bristol Funding for internship salaries. BFI fan exhibition This covers the costs for the Queer vision film festival.

Transfers between funds

Bristol City Council unrestricted its grant award due to the COVID pandemic, to allow the charity the discretion to use their funding for essential activities.

Bristol Pride

Notes to the financial statements

For the year ended 31 March 2021

15. Movements in funds (continued) Prior year comparative


Prior year comparative Restricted funds Bristol City Council Total restricted funds General funds Total unrestricted funds Total funds Unrestricted funds	At 1 April 2019 £ - - 45,344 45,344 45,344	Income £ 25,167 25,167 434,074 434,074 459,241	£ (25,167) (25,167) (384,911) (384,911) (410,078) Expenditure	£ £ - - - - - 94,507 - 94,507 - 94,507 Transfers between funds At 31 March 2020
					-
					94,507
					94,507
					94,507

16. Related party transactions

There were no related party transactions in the current year. In the prior year, Bristol Pride rented office space from a former trustee, David Robertson. The value of the rent for the period was £4,200.

Charity no. 1166817

Bristol Pride Report and Unaudited Financial Statements

31 March 2021

Bristol Pride

Reference and administrative details

For the year ended 31 March 2021

Bristol Pride

Report of the trustees

For the year ended 31 March 2021

Structure, governance and management

Objectives and activities

Achievements and performance

Bristol Pride

Report of the trustees

For the year ended 31 March 2021

Public benefit

COVID-19 impact

Bristol Pride

Report of the trustees

For the year ended 31 March 2021

Financial review

Income and expenditure during the year: Total income: Total expenditure: Net income	2021 £ £196,611 (£110,022) £86,589	2020 £ £459,241 (£410,078)
		£49,163

Reserves policy

Statement of responsibilities of the trustees

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP;
make judgements and accounting estimates that are reasonable and prudent;
state whether applicable accounting standards and statements of recommended practice 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.

Bristol Pride

Report of the trustees

For the year ended 31 March 2021

Independent examiners

Godfrey Wilson Limited were re-appointed as independent examiners to the charity during the year and have expressed their willingness to continue in that capacity.

Approved by the trustees on 22 November 2021 and signed on their behalf by

Freddie Daw Trustee

Independent examiner's report

To the trustees of

Bristol Pride

I report to the trustees on my examination of the accounts of Bristol Pride (the CIO) for the year ended 31 March 2021, which are set out on pages 7 to 18.

Responsibilities and basis of report

As the charity trustees of the CIO you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

Independent examiner’s statement

I have completed my examination. I confirm that no material 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 CIO as required by section 130 of the Act; or
(2) the accounts do not accord with those records; or
(3) the accounts do 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.

Date: 22 November 2021

Rob Wilson FCA

Member of the ICAEW For and on behalf of: Godfrey Wilson Limited Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD

Bristol Pride

Statement of financial activities

For the year ended 31 March 2021

Restricted Unrestricted Note £ £ Income from: Donations (inc. grants) 3 111,968 81,145 Charitable activities 5 - 3,470 Other trading activities 6 - - Investments - 28 Total income 111,968 84,643 Expenditure on: Raising funds - 4,722 Charitable activities 83,738 21,562 Total expenditure 7 83,738 26,284 Net income 28,230 58,359 Transfers between funds (25,300) 25,300 Net movement in funds 8 2,930 83,659 Reconciliation of funds: Total funds brought forward - 94,507 Total funds carried forward 2,930 178,166	2021 Total £ 193,113 3,470 - 28 196,611 4,722 105,300 110,022 86,589 - 86,589 94,507 181,096	2020 Total £ 310,229 40,199 108,713 100
		459,241
		3,109 406,969
		410,078
		49,163 -
		49,163 45,344
		94,507

Bristol Pride

Balance sheet

As at 31 March 2021

Note Current assets Debtors 11 Cash at bank and in hand Liabilities Creditors: amounts falling due within 1 year 12 Net current assets Net assets 14 Funds 15 Restricted funds Unrestricted funds General funds Total charity funds	£ 33,541 153,659 187,200 6,104	2021 £ 181,096 181,096 2,930 178,166 181,096	2020 £ 46,537 73,690
			120,227 25,720
			94,507
			94,507
			- 94,507
			94,507

Approved by the trustees on 22 November 2021 and signed on their behalf by

Freddie Daw Trustee

Bristol Pride

Notes to the financial statements

For the year ended 31 March 2021

1. Accounting policies

a) Basis of preparation

b) Going concern basis of accounting

c) Income

Income received in advance of the Bristol Pride Festival is deferred until criteria for income recognition are met.

d) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the bank.

Bristol Pride

Notes to the financial statements

For the year ended 31 March 2021

1. Accounting policies (continued) e) Donated services and facilities

f) Funds accounting

g) Expenditure and irrecoverable VAT

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

h) Allocation of support and governance costs

	2021	2020
Raising funds	5.9%	5.9%
Charitable activities	94.1%	94.1%

i) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

j) Cash at bank and in hand

Bristol Pride

Notes to the financial statements

For the year ended 31 March 2021

1. Accounting policies (continued)

k) Creditors

l) Financial instruments

m) Accounting estimates and key judgements

There are no key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements.

2. Statement of financial activities: prior period comparatives

Income from: Donations Charitable activities Other trading activities Investments Total income Expenditure on: Raising funds Charitable activities Total expenditure Net income and net movement in funds	Restricted Unrestricted £ £ 25,167 285,062 - 40,199 - 108,713 - 100 25,167 434,074 - 3,109 25,167 381,802 25,167 384,911 - 49,163	2020 Total £ 310,229 40,199 108,713 100
		459,241
		3,109 406,969
		410,078
		49,163

Bristol Pride

Notes to the financial statements

For the year ended 31 March 2021

3. Income from donations

Donations (including wristbands) Sponsorship Grants Total income from donations Prior period comparative: Donations (including wristbands) Sponsorship Grants Total income from donations	Restricted £ £ - 4,895 - 76,250 111,968 - 111,968 81,145 Restricted £ £ - 203,662 - 81,400 25,167 - 25,167 285,062 Unrestricted Unrestricted	2021 Total £ 4,895 76,250 111,968
		193,113
		2020 Total £ 203,662 81,400 25,167
		310,229

4. Government grants

Bristol Pride

Notes to the financial statements

For the year ended 31 March 2021

5. Income from charitable activities

Income from charitable activities
Festival tickets Exhibition Parade Community stalls Pride Week events Training Total income from charitable activities	Restricted £ £ - - - - - 2,700 - 130 - - - 640 - 3,470 Unrestricted	2021 Total £ - - 2,700 130 - 640 3,470	2020 Total £ 14,763 10,010 8,029 4,250 3,147 -
			40,199

All income from charitable activities in the prior period was unrestricted.

6. Income from other trading activities

Restricted £ £ Bar - - Festival sponsorship - - Market stalls - - Total income from other trading activities - - Unrestricted	2021 Total £ - - - -	2020 Total £ 80,928 20,000 7,785
		108,713

All income from other trading activities in the prior period was unrestricted.

Bristol Pride

Notes to the financial statements

For the year ended 31 March 2021

7. Total expenditure

Total expenditure
Raising funds £ Staff costs (note 9) 3,611 Other staff costs - Office costs - Advertising and marketing - Artist fees - Event management costs - Other event costs - Accountancy - Sub-total 3,611 1,111 Total expenditure 4,722 Total governance costs were £1,440 (2020: £1,380) Prior period comparative Raising funds £ Staff costs (note 9) 1,329 Other staff costs - Fundraising 678 Office costs - Advertising and marketing - Artist fees - Event management costs - Other event costs - Donations - Accountancy - Sub-total 2,007 1,102 Total expenditure 3,109 Allocation of support and governance costs Allocation of support and governance costs	Charitable activities £ £ 57,776 10,833 - 996 - 4,947 9,338 - 5,045 - 13,160 - 2,210 - - 2,106 87,529 18,882 17,771 (18,882) 105,300 - Charitable activities £ £ 21,278 3,990 - 882 - - - 12,484 8,323 - 87,170 - 73,025 - 198,539 - 1,000 - - 1,380 389,335 18,736 17,634 (18,736) 406,969 - Support and governance Support and governance	2021 Total £ 72,220 996 4,947 9,338 5,045 13,160 2,210 2,106
		110,022 -
		110,022
		2020 Total £ 26,597 882 678 12,484 8,323 87,170 73,025 198,539 1,000 1,380
		410,078 -
		410,078

Bristol Pride

Notes to the financial statements

For the year ended 31 March 2021

8. Net movement in funds

This is stated after charging:

Trustees' remuneration Trustees' reimbursed expenses Independent examiners' remuneration: Independent examination (including VAT)	2021 £ Nil Nil 1,440	2020 £ Nil Nil 1,380

9. Staff costs and numbers

Staff costs were as follows:

Gross salaries Pension costs Freelance staff	2021 £ 45,688 442 26,090 72,220	2020 £ 3,500 37 23,060
		26,597

No employee earned more than £60,000 during the year.

Average head count	2021 No. 2.50	2020 No. 1.25

10. Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

11. Debtors

Trade debtors Prepayments	2021 £ - 33,541 33,541	2020 £ 23,500 23,037
		46,537

Bristol Pride

Notes to the financial statements

For the year ended 31 March 2021

12. Creditors: amounts due within 1 year

12. Creditors: amounts due within 1 year
Trade creditors Accruals Deferred income (see note 13) Taxation and social security Other creditors 13. Deferred income At 1 April 2020 Deferred during the year Released during the year At 31 March 2021	2021 £ 3,009 1,440 - 818 837 6,104 2021 £ 23,500 - (23,500) -	2020 £ - 1,380 23,500 741 99
		25,720
		2020 £ - 23,500 -
		23,500

Deferred income relates to income received in advance for the Bristol Pride Festival which takes place over the summer.

14. Analysis of net assets between funds

Current assets Current liabilities Net assets at 31 March 2021 Prior year comparative Current assets Current liabilities Net assets at 31 March 2020	£ 2,930 - 2,930 £ - - - Restricted funds Restricted funds	£ 184,270 (6,104) 178,166 £ 120,227 (25,720) 94,507 Unrestricted funds Unrestricted funds	Total funds £ 187,200 (6,104)
			181,096
			Total funds £ 120,227 (25,720)
			94,507

Bristol Pride

Notes to the financial statements

For the year ended 31 March 2021

15. Movements in funds

At 1 April 2020 £ Restricted funds Bristol City Council - LGBT Consortium - ACE - Culture Recovery fund - ACE - COVID grant - University of Bristol - BFI fan exhibition - Total restricted funds - General funds 94,507 Total unrestricted funds 94,507 Total funds 94,507 Unrestricted funds	Income £ 25,300 1,960 45,246 33,790 1,172 4,500 111,968 84,643 84,643 196,611	£ - (1,960) (45,246) (33,790) (1,172) (1,570) (83,738) (26,284) (26,284) (110,022) Expenditure	£ £ (25,300) - - - - - - - - - - 2,930 (25,300) 2,930 25,300 178,166 25,300 178,166 - 181,096 Transfers between funds At 31 March 2021	£ £ (25,300) - - - - - - - - - - 2,930 (25,300) 2,930 25,300 178,166 25,300 178,166 - 181,096 Transfers between funds At 31 March 2021
				2,930
				178,166
				178,166
				181,096

Purposes of restricted funds

Bristol City Council

LGBT Consortium

Funding used to pay for a theatre production.

ACE - Culture Recovery fund

Supporting us to diversify and deliver events during the Covid pandemic - this covers office costs, salaries, web hosting, other core costs and project costs for our online events.

ACE - COVID grant

Emergency relief funding from Arts Council England.

University of Bristol Funding for internship salaries. BFI fan exhibition This covers the costs for the Queer vision film festival.

Transfers between funds

Bristol City Council unrestricted its grant award due to the COVID pandemic, to allow the charity the discretion to use their funding for essential activities.

Bristol Pride

Notes to the financial statements

For the year ended 31 March 2021

15. Movements in funds (continued) Prior year comparative


Prior year comparative Restricted funds Bristol City Council Total restricted funds General funds Total unrestricted funds Total funds Unrestricted funds	At 1 April 2019 £ - - 45,344 45,344 45,344	Income £ 25,167 25,167 434,074 434,074 459,241	£ (25,167) (25,167) (384,911) (384,911) (410,078) Expenditure	£ £ - - - - - 94,507 - 94,507 - 94,507 Transfers between funds At 31 March 2020
					-
					94,507
					94,507
					94,507

16. Related party transactions

Godfrey Wilson Limited Chartered Accountants & Statutory Auditors 5[th] Floor Mariner House 62 Prince Street Bristol BS1 4QD

22 November 2021

Dear Rob

Bristol Pride: Letter of Representations on the Financial Statements for the Year Ended 31 March 2021

We confirm that the following representations are made on the basis of enquiries of the trustees, management and staff with relevant knowledge and experience (and, where appropriate, of inspection of supporting documentation) sufficient to satisfy ourselves that we can properly make each of the following representations to you:

We have fulfilled our responsibilities as trustees, as set out in the terms of your engagement letter dated 20 January 2020, under the Charities Act 2011 for preparing financial statements, in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

We confirm that in our opinion the financial statements give a true and fair view and in particular that where any additional information must be disclosed in order to give a true and fair view that information has in fact been disclosed. We confirm that the selection and application of the accounting policies used in the preparation of the financial statements are appropriate, and we approve these accounts for the year ended 31 March 2021.

We confirm that all accounting records have been made available to you for the purpose of your examination, in accordance with your terms of engagement, and that all the transactions undertaken by the charity have been properly reflected and recorded in the accounting records. All other records and related information, including minutes of all management, trustees’ and members’ meetings, have been made available to you. We have given you unrestricted access to persons within the charity in order to obtain evidence and have provided any additional information that you have requested for the purposes of your examination.
We confirm the charity has satisfactory title to all assets and there are no liens or encumbrances on the assets, except for those disclosed in the financial statements.
We confirm that significant assumptions used by us in making accounting estimates, including those measured at fair value, are reasonable. We confirm that we have no plans or intentions that may materially alter the carrying value and where relevant the fair value measurements or classification of assets and liabilities reflected in the financial statements.
We confirm that the charity has no liabilities or contingent liabilities other than those disclosed in the financial statements.

Charity Number: 1166817 Registered office: 200 Ashley Down Road, Bristol, BS7 9JZ

We confirm that all known actual or possible litigation and claims whose effects should be considered when preparing the financial statements have been disclosed to you and accounted for and disclosed in accordance with the applicable financial reporting framework.
We confirm that there have been no events since the balance sheet date which require disclosing or which would materially affect the amounts in the financial statements, other than those already disclosed or included in the financial statements.
We confirm that we are aware that a related party of the charity is a person or organisation which either (directly or indirectly) controls, has joint control of, or significantly influences the charity or vice versa and as a result will include: trustees, other key management, close family and other business interests of the previous. We confirm that all related party relationships and transactions have been accounted for and disclosed in accordance with the applicable financial reporting framework.
We confirm that the charity neither had, at any time during the year, any arrangement, transaction or agreement to provide credit facilities (including advances and credits granted by the charity) for trustees, nor provided guarantees of any kind on behalf of the trustees except as disclosed in the financial statements.
We confirm that the charity has not contracted for any capital expenditure other than as disclosed in the financial statements.
We confirm that the charity has complied with all aspects of contractual agreements that could have a material effect on the financial statements in the event of non-compliance.
We confirm that we are not aware of any possible or actual instance of non-compliance with those laws and regulations which provide a legal framework within which the charity conducts its activities and which are central to the charity’s ability to conduct its activities, except as explained to you and as disclosed in the financial statements.
We acknowledge our responsibility for the design, implementation and maintenance of internal controls to prevent and detect fraud. We confirm that we have disclosed to you the results of our risk assessment of the risk of fraud in the organisation. There have been no deficiencies in internal control of which we are aware.
We confirm that there have been no actual or suspected instances of fraud involving trustees, management or employees who have a significant role in internal control or that could have a material effect on the financial statements. We also confirm that we are not aware of any allegations of fraud by trustees, former trustees, employees, former employees, regulators or others.
We confirm that, in our opinion, the charity’s financial statements should be prepared on the going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the charity’s needs. In reaching this conclusion, we have taken into account all relevant matters of which we are aware, and have considered a period of at least one year from the date on which the financial statements will be approved.
We confirm that in our opinion the effects of uncorrected misstatements are immaterial, both individually and in aggregate, to the financial statements as a whole.
We confirm that we are not aware of any matters of material significance that should be reported to regulators. We confirm that all correspondence with the Charity Commission has been made available to you.
We confirm that all grants, donations and other income, including those subject to special terms or conditions or received for restricted purposes, have been notified to you. There have been no breaches of terms or conditions during the period regarding the application of such income.
We confirm the following specific representations made to you during the course of the independent examination:
(a) The trustees consider that no adjustments are required to the accounts in respect of VAT for the period.

Yours sincerely

Freddie Daw – Trustee For and on behalf of the trustees of Bristol Pride