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← Hastings Storytelling Festival

2025-07-31-accounts

Trustees’ Annual Report for the period

From 1 August 2024 Period start date To 31 July 2025 Period end date

Charity name: Hastings Storytelling Festival

Charity registration number: 1168229

Objectives and Activities

SORP reference
Summary of the purposes of
the charity as set out in its
governing document		 Para 1.17 For the public benefit to promote the arts
and advance education in the arts in East
Sussex particularly but not exclusively by:
•
Celebrating and promoting the art
of the spoken word;
•
Advancing and encouraging
literacy through storytelling – especially for
young people;
•
Hosting storytelling events in
diverse venues and by engaging new
audiences; and
•
Organising and delivering an
annual storytelling festival.
Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or
services identified in the
accounts.		 Para 1.17 and
1.19		 In 2024 we brought a mixture of high
quality storytelling to adults and children in
diverse settings. Our schools program
included CPD for teachers, an author in
residence and workshops, crafting
headgear for the parade.We worked
successfully with other organisations: The
National Literacy Trust, and had a
marquee at the St Leonards Festival.
Children’s stories were told in many ways
and venues: spoken word and puppetry at
a library, schools, a large theatre and in a
Yurt. Sunday’s large open-space day was
a huge success with free events for
families and children.
Adult stories came in many forms too:
Poetry, three forms of song and…Bingo.
Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit		 Para 1.18 All trustees are aware of the guidance and
have taken it into account when making a
decision to which the guidance is relevant.

Additional information (optional) You may choose to include further statements where relevant about:


SORP reference
Policy on grant making Para 1.38 The festival continued to seek government
support at both national (Arts Council
England) and local level (Hastings
Borough Council). The festival also
receives small grants support from local
trusts towards the outreach work in
Hastings.
Policy on social investment
including program related
investment		 Para 1.38 N/a
Contribution made by
volunteers		 Para 1.38 Three patrons supported the festival:
Lauren Child (final year of three years),
Inua Ellams, and Thomas Taylor. The
festival also welcomed illustrator Axel
Scheffler as a new patron. Sir Quentin
Blake was retained as a founding Patron.
The Trustees meet regularly throughout
the year in a voluntary capacity. Trustees
and subgroups invest valuable additional
time between meetings.
A network of teachers also met before the
festival to plan how to best work with local
schools as part of the programme.
Children’s Day recruited valuable support
from additional local volunteers.
Other

Achievements and Performance

SORP reference
Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.		 Para 1.20 The charity increased school outreach
sessions from eight in 2023 to sixteen in
2024. This was achieved across fourteen
schools. Author Sophie Kirtley visited two
schools through the partnership with the
National Literacy Trust. The festival also
hosted Alim Kamara as Storyteller in
Residence. Reaching 1,130 pupils.
Former Children’s Laureate Joseph
Coelho ran a Continuing Professional
Development session for 20 teachers and
writers held at Hastings Library.
The main festival programme offered a
range of adults only and family events
across ten days. Highlights included

Reverend Billy and the Stop Shopping Choir from New York, hosted in partnership with Home Live Art. The Human Rights Treaty was explored through a surreal night of Human Rights Bingo. Patron Inua Ellams performed Search Party to a sell-out audience. Stories through song were celebrated through a night of Triple Harmonies, featuring Black Voices, Barefoot Opera, and Brighton Gay Men’s Chorus. The festival ended with the popular mix of storytelling, puppetry, and outdoor theatre packaged as Children’s Day with a schools’ parade supported by Mahogany Carnival Arts of Notting Hill Carnival. Outreach in St Leonards through the St Leonards Festival also reached new audiences from this part of the town, outside of the festival programme.

Additional information (optional) You may choose to include further statements where relevant about:

Achievements against
objectives set		 Para 1.41
Performance of fundraising
activities against objectives
set		 Para 1.41
Investment performance
against objectives		 Para 1.41
Other

Financial Review

Review of the charity’s
financial position at the end
of the period		 Para 1.21 HSF– Financial Review 01.08.2024-
31.07.2025
The total charitable income relating to the
accounting period was £65061 and is
made up of the following:
Public Funding: £49,951
This year’s festival, and associated events
within the year, received the following
public grants: £49,951 from Arts Council
England, with the balance being made up
of two small grants from Hastings Borough
Council: £1,000 and the Big Local
Hastings fund: £600. These grants went
towards artistic expenditure (£26,234) plus
key overheads including: advertising &
marketing and the festival
development/production.
Charitable Grants/Donations: £10,559
We received grants from the following
organisations: £4,214 from the Southern
Water Goodwill Foundation, £1,000 from
Magdalen and Lasher towards school
outreach work and £917 from Home Live
Art towards artist development.
Income generation: 4,551
Ticket sales to events (£5,300), book &
bag sales (£1,456), sponsorship by local
businesses for advertising in the festival
programme (£500), and donations (£42).
Statement explaining the
policy for holding reserves
stating why they are held		 Para 1.22 We do not have reserves as such. The
end-of-year balance of funds left over is to
be put towards the development &
production of next year’s festival. This
amount includes deferred income of
£2,786 from the total grant awarded from
the Southern Water Goodwill Foundation
(£7,000).
Amount of reserves held Para 1.22 We had a bank balance of £5,180 at the
year-end
Reasons for holding zero
reserves		 Para 1.22 n/a
Details of fund materially in
deficit		 Para 1.24 n/a
Explanation of any
uncertainties about the
charity continuing as a going
concern		 Para 1.23 n/a

Additional information (optional) You may choose to include further statements where relevant about:

The charity’s principal
sources of funds (including
any fundraising)		 Para 1.47
Investment policy and
objectives including any
social investment policy
adopted		 Para 1.46
A description of the principal
risks facing the charity		 Para 1.46

Structure, Governance and Management

Description of charity’s
trusts:
Type of governing document
(trust deed, royal charter)		 Para 1.25 Trust deed
How is the charity
constituted?
(e.g unincorporated
association, CIO)		 Para 1.25 CIO
Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees		 Para 1.25 At AGM and/or by invitation

Additional information (optional)

You may choose to include further statements where relevant about:


Policies and procedures
adopted for the induction and
training of trustees
Para 1.51
The charity’s organisational
structure and any wider
network with which the
charity works		 Para 1.51
Relationship with any related
parties		 Para 1.51

Other

Reference and Administrative details

Charity name Hastings Storytelling Festival
Other name the charity uses
Registered charity number 1168229
Charity’s principal address 31 Station Road
Bexhill
TN40 1RG

Names of the charity trustees who manage the charity

1
2
3
4
5
6
7		 Trustee name Office (if any) Dates acted if
not for whole
year		 Name of person
(or body) entitled
to appoint trustee
(ifany)
Lorna Crabbe n/a
Sandra Garner Chair n/a
Kate Francis n/a
Hilary Lissenden n/a
Rounaq Uddin n/a
Richard Street n/a
Yvonne O’Connor From May 24

– Corporate trustees names of the directors at the date the report was approved

Director name n/a

Name of trustees holding title to property belonging to the charity

Trustee name Dates acted if not for whole year
n/a
Funds held as custodian trustees on behalf of others
Description of the assets
held in this capacity		 n/a
Name and objects of the
charity on whose behalf the
assets are held and how this
falls within the custodian
charity’s objects		 n/a
Details of arrangements for
safe custody and
segregation of such assets
from the charity’s own assets		 n/a

Additional information (optional)

Names and addresses of advisers (Optional information)

Type of Name Address adviser Name of chief executive or names of senior staff members (Optional information)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

n/a

Other optional information

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s) Full name(s)[Kate Francis]

Position (eg Secretary, Secretary Chair, etc) ~~a~~

Date 20/02/2025 ~~|~~

Trustees’ Annual Report for the period

From 1 August 2024 Period start date To 31 July 2025 Period end date

Charity name: Hastings Storytelling Festival

Charity registration number: 1168229

Objectives and Activities

SORP reference
Summary of the purposes of
the charity as set out in its
governing document		 Para 1.17 For the public benefit to promote the arts
and advance education in the arts in East
Sussex particularly but not exclusively by:
•
Celebrating and promoting the art
of the spoken word;
•
Advancing and encouraging
literacy through storytelling – especially for
young people;
•
Hosting storytelling events in
diverse venues and by engaging new
audiences; and
•
Organising and delivering an
annual storytelling festival.
Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or
services identified in the
accounts.		 Para 1.17 and
1.19		 In 2024 we brought a mixture of high
quality storytelling to adults and children in
diverse settings. Our schools program
included CPD for teachers, an author in
residence and workshops, crafting
headgear for the parade.We worked
successfully with other organisations: The
National Literacy Trust, and had a
marquee at the St Leonards Festival.
Children’s stories were told in many ways
and venues: spoken word and puppetry at
a library, schools, a large theatre and in a
Yurt. Sunday’s large open-space day was
a huge success with free events for
families and children.
Adult stories came in many forms too:
Poetry, three forms of song and…Bingo.
Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit		 Para 1.18 All trustees are aware of the guidance and
have taken it into account when making a
decision to which the guidance is relevant.

Additional information (optional) You may choose to include further statements where relevant about:


SORP reference
Policy on grant making Para 1.38 The festival continued to seek government
support at both national (Arts Council
England) and local level (Hastings
Borough Council). The festival also
receives small grants support from local
trusts towards the outreach work in
Hastings.
Policy on social investment
including program related
investment		 Para 1.38 N/a
Contribution made by
volunteers		 Para 1.38 Three patrons supported the festival:
Lauren Child (final year of three years),
Inua Ellams, and Thomas Taylor. The
festival also welcomed illustrator Axel
Scheffler as a new patron. Sir Quentin
Blake was retained as a founding Patron.
The Trustees meet regularly throughout
the year in a voluntary capacity. Trustees
and subgroups invest valuable additional
time between meetings.
A network of teachers also met before the
festival to plan how to best work with local
schools as part of the programme.
Children’s Day recruited valuable support
from additional local volunteers.
Other

Achievements and Performance

SORP reference
Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.		 Para 1.20 The charity increased school outreach
sessions from eight in 2023 to sixteen in
2024. This was achieved across fourteen
schools. Author Sophie Kirtley visited two
schools through the partnership with the
National Literacy Trust. The festival also
hosted Alim Kamara as Storyteller in
Residence. Reaching 1,130 pupils.
Former Children’s Laureate Joseph
Coelho ran a Continuing Professional
Development session for 20 teachers and
writers held at Hastings Library.
The main festival programme offered a
range of adults only and family events
across ten days. Highlights included

Reverend Billy and the Stop Shopping Choir from New York, hosted in partnership with Home Live Art. The Human Rights Treaty was explored through a surreal night of Human Rights Bingo. Patron Inua Ellams performed Search Party to a sell-out audience. Stories through song were celebrated through a night of Triple Harmonies, featuring Black Voices, Barefoot Opera, and Brighton Gay Men’s Chorus. The festival ended with the popular mix of storytelling, puppetry, and outdoor theatre packaged as Children’s Day with a schools’ parade supported by Mahogany Carnival Arts of Notting Hill Carnival. Outreach in St Leonards through the St Leonards Festival also reached new audiences from this part of the town, outside of the festival programme.

Additional information (optional) You may choose to include further statements where relevant about:

Achievements against
objectives set		 Para 1.41
Performance of fundraising
activities against objectives
set		 Para 1.41
Investment performance
against objectives		 Para 1.41
Other

Financial Review

Review of the charity’s
financial position at the end
of the period		 Para 1.21 HSF– Financial Review 01.08.2024-
31.07.2025
The total charitable income relating to the
accounting period was £65061 and is
made up of the following:
Public Funding: £49,951
This year’s festival, and associated events
within the year, received the following
public grants: £49,951 from Arts Council
England, with the balance being made up
of two small grants from Hastings Borough
Council: £1,000 and the Big Local
Hastings fund: £600. These grants went
towards artistic expenditure (£26,234) plus
key overheads including: advertising &
marketing and the festival
development/production.
Charitable Grants/Donations: £10,559
We received grants from the following
organisations: £4,214 from the Southern
Water Goodwill Foundation, £1,000 from
Magdalen and Lasher towards school
outreach work and £917 from Home Live
Art towards artist development.
Income generation: 4,551
Ticket sales to events (£5,300), book &
bag sales (£1,456), sponsorship by local
businesses for advertising in the festival
programme (£500), and donations (£42).
Statement explaining the
policy for holding reserves
stating why they are held		 Para 1.22 We do not have reserves as such. The
end-of-year balance of funds left over is to
be put towards the development &
production of next year’s festival. This
amount includes deferred income of
£2,786 from the total grant awarded from
the Southern Water Goodwill Foundation
(£7,000).
Amount of reserves held Para 1.22 We had a bank balance of £5,180 at the
year-end
Reasons for holding zero
reserves		 Para 1.22 n/a
Details of fund materially in
deficit		 Para 1.24 n/a
Explanation of any
uncertainties about the
charity continuing as a going
concern		 Para 1.23 n/a

Additional information (optional) You may choose to include further statements where relevant about:

The charity’s principal
sources of funds (including
any fundraising)		 Para 1.47
Investment policy and
objectives including any
social investment policy
adopted		 Para 1.46
A description of the principal
risks facing the charity		 Para 1.46

Structure, Governance and Management

Description of charity’s
trusts:
Type of governing document
(trust deed, royal charter)		 Para 1.25 Trust deed
How is the charity
constituted?
(e.g unincorporated
association, CIO)		 Para 1.25 CIO
Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees		 Para 1.25 At AGM and/or by invitation

Additional information (optional)

You may choose to include further statements where relevant about:


Policies and procedures
adopted for the induction and
training of trustees
Para 1.51
The charity’s organisational
structure and any wider
network with which the
charity works		 Para 1.51
Relationship with any related
parties		 Para 1.51

Other

Reference and Administrative details

Charity name Hastings Storytelling Festival
Other name the charity uses
Registered charity number 1168229
Charity’s principal address 31 Station Road
Bexhill
TN40 1RG

Names of the charity trustees who manage the charity

1
2
3
4
5
6
7		 Trustee name Office (if any) Dates acted if
not for whole
year		 Name of person
(or body) entitled
to appoint trustee
(ifany)
Lorna Crabbe n/a
Sandra Garner Chair n/a
Kate Francis n/a
Hilary Lissenden n/a
Rounaq Uddin n/a
Richard Street n/a
Yvonne O’Connor From May 24

– Corporate trustees names of the directors at the date the report was approved

Director name n/a

Name of trustees holding title to property belonging to the charity

Trustee name Dates acted if not for whole year
n/a
Funds held as custodian trustees on behalf of others
Description of the assets
held in this capacity		 n/a
Name and objects of the
charity on whose behalf the
assets are held and how this
falls within the custodian
charity’s objects		 n/a
Details of arrangements for
safe custody and
segregation of such assets
from the charity’s own assets		 n/a

Additional information (optional)

Names and addresses of advisers (Optional information)

Type of Name Address adviser Name of chief executive or names of senior staff members (Optional information)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

n/a

Other optional information

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s) Full name(s)[Kate Francis]

Position (eg Secretary, Secretary Chair, etc) ~~a~~

Date 20/02/2025 ~~|~~

The Charity Registration Number is :- 1168229

Hastings Storytelling Festival

Report and Accounts

31 July 2025

Hastings Storytelling Festival

Report and accounts for the year ended 31 July 2025

Contents

Page
Independent Examiner's Report to Trustees 3
Funds Statements:-
Statement of Financial Activities 4
Balance sheet 5
Notes to the accounts 6 - 8

Hastings Storytelling Festival

Trustees' Annual Report for the year ended 31 July 2025

The Trustees present their Report and Accounts for the year ended 31 July 2025.

Reference and administrative details

The charity name.

The legal name of the charity is:- Hastings Storytelling Festival The charity is also known by its operating name,

The charity's areas operation and UK charitable registration.

The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 1168229

Legal structure of the charity

The governing document of the charity is the Trust Deed establishing the charity. The Governing Document is dated 14 July 2016

The trustees are all individuals.

The principal operating address, telephone number, email and web addresses of the charity

31 Station Road The Old Coroners Bexhill-On-Sea TN40 1RG

The Trustees in office on the date the report was approved were:-

R Street S Garner R Uddin K Francis Y O'Connor H Lissenden L Chantal

Trustees discuss suitable Hastings Story Telling Festival members bearing in mind the legal rules on eligibility, skills and knowledge, who are approached and if the member is in agreement the reccomnendation is taken to general committee for proposal. The member is given induction material including the governing document, accounts and previous meetings minutes.

Objects and activities of the charity

The purposes and activities of the charity as set out in its governing document.

The chairty operates under a formal structure.

The trustees have considered the Charity Comission's guidance on 'public benefit, including the guidance 'public benefit: running a chairty (PB2)'. For the public benefit to promote the arts and advance education in the arts in East Sussex particuarly but not exclusively by:

Structure, governance and management of the charity

The Trustees meet monthly during each year to discuss the performance of the Charity and make decisions as appropriate.

1

Hastings Storytelling Festival Trustees' Annual Report for the year ended 31 July 2025

The charity's financial position at the end of the year ended 31 July 2025

The financial position of the charity at 31 July 2025 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:-

2025 £ Net expenditure (5,199)

The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations,the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015 (as amended by the Bulletin issued in February 2016) .

In particular, charity law requires the Trustees, if they prepare accounts on an accruals basis, to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Trustees are required to :-

The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.

S Garner Trustee 20th February 2025

2

Hastings Storytelling Festival Independent Examiner's Report 31 July 2025

.

I report on the accounts of the Charity for the year ended 31st July 2025, which are set out on pages 4 and 5.

Respective responsibilities of Trustees and Examiner

The Trustees are responsible for the preparation of the accounts. You consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

Basis of Independent Examiners Report

My examination was carried out in accordance with the general Directions given by the Charity Commission.An examination includes a review of the accounting records kept and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.

Independent Examiners Report

In connection with my examination, no matter has come to my attention:

have not been met; or

Miss Y O'Connor Director, FCCA O'Connor & Co Chartered Certified Accountants 13 Meads Street Eastbourne East Sussex BN20 7QY

3

Hastings Storytelling Festival - Statement of Financial Activities for the year ended 31 July 2025

Statement of Financial Activities for the year ended 31 July 2025

Income & Endowments from:
Donations & Legacies
A1
Charitable activities
A2
Grant Income
A4
Total income
A
Expenditure on:
Raising funds
B1
Charitable activities
B2
Total expenditure
B
Net (expenditure)/income for the year
Transfers between funds
C
Net income after transfers
A-B-C
Reconciliation of funds:-
E
Total funds brought forward
Total funds carried forward
Net movement in funds
SORP
Ref		 Current year
Unrestricted
Funds
2025
£
-
-		 Current year
Restricted
Funds
2025
£
42
4,551
60,468		 Current year
Endowment
Funds
2025
£
-
-
-
-
-
-
-
-		 Current year
Total Funds
2025
£
42
4,551
60,468		 Prior Year
Total
Funds
2024
£
66
5,059
65,217
- 65,061 65,061 70,342
70,260 -
70,260		 -
59,988
- 70,260 70,260 59,988
- (5,199) (5,199)
-		 10,354
-
- (5,199) (5,199) 10,354
- (5,199) (5,199)
10,806		 10,354
452
- (5,199) 5,607 10,806

The 'SORP Ref' indicated above is the classification of income set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet.

All activities derive from continuing operations

The notes attached on pages 4 to 6 form an integral part of these accounts.

4

Hastings Storytelling Festival - Balance Sheet as at 31 July 2025

Notes
SORP
Ref
Fixed assets
A
Tangible assets
A2
Current assets
B
Debtors
B2
Cash at bank and in hand
B4
Total current assets
Creditors: amounts falling due within
one year
2
C1
Net Current Assets
The total net assets of the charity		 2025
£
-
.
67,744
5,180
72,924
(67,317)
5,607
5,607		 526
10,280		 2024
£
-
10,806
10,806
10,806

The total net assets of the charity are funded by the funds of the charity, as follows:-

Restricted funds

Restricted Fixed Asset Funds
D2
Unrestricted Funds
Unrestricted Revenue Funds
D3
Total charity funds		 5,607 5,607
-
-
5,607		 10,806 10,806
-
- -
10,806

The 'SORP Ref' indicated above is the classification of Balance Sheet items as set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the SOFA.

The Trustees acknowledge their responsibilities for complying with the requirements of charity legislation with respect to accounting records and the preparation of accounts.

Y O'Connor Trustee Approved by the board of trustees on 20th February 2025

The notes attached on pages 4 to 6 form an integral part of these accounts.

5

Hastings Storytelling Festival

Notes to the Accounts for the year ended 31 July 2025

1 Accounting policies

Policies relating to the production of the accounts.

Basis of preparation and accounting convention

The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016) and 'FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015 (as amended by the Bulletin issued in February 2016) published by the Charity Commission in England & Wales (CCEW) ,effective January 2016, (The SORP), and in accordance with all applicable law in the charity's jurisdiction of registration.

Going Concern

At the time of approving the accounts, the Trustees have reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the accounts.

Restricted and Unrestricted Funds

Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charities work or for specific artistic projects being undertaken by the charity.

Significant judgements, key assumptions and estimates

The preparation of the accounts in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the accounts and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from these estimates. The key estimates and assumptions used in these financial statements are set out in the accounting policies notes included the additional policy notes within these accounts such as for depreciation.

Policies relating income recognition.

Income recognition

Income, whether from exchange or non exchange transactions, is recognised in the statement of financial activities (SOFA) on a receivable basis, when a transaction or other event results in an increase in the charity’s assets or a reduction in its liabilities and only when the charity has legal entitlement, the income is probable and can be measured reliably.

Income subject to terms and conditions which must be met before the charity is entitled to the resources is not recognised until the conditions have been met.

All income is accounted for gross, before deducting any related fees or costs.

6

Hastings Storytelling Festival

Notes to the Accounts for the year ended 31 July 2025

Accounting for deferred income and income received in advance

Where terms and conditions relating to income have not been met or uncertainty exists as to whether the charity can meet any terms or conditions otherwise within its control, income is not recognised but is deferred as a liability until it is probable that the terms or conditions imposed can be met.

Any grant that is subject to performance-related conditions received in advance of delivering the goods and services required by that condition, or is subject to unmet conditions wholly outside the control of the recipient charity, is accounted for as a liability and shown on the balance sheet as deferred income. Deferred income is released to income in the reporting period in which the performance-related or other conditions that limit recognition are met.

When income from a grant or donation has not been recognised due to the conditions applying to the gift not being wholly within the control of the recipient charity, it is disclosed as a contingent asset if receipt of the grant or donation is probable once those conditions are met.

Where time related conditions are imposed or implied by a funder, then the income is apportioned to the time periods concerned, and, where applicable, is accounted for as a liability and shown on the balance sheet as deferred income. When grants are received in advance of the expenditure on the activity funded by them, but there are no specific time related conditions, then the income is not deferred.

Any condition that allows for the recovery by the donor of any unexpended part of a grant does not prevent recognition of the income concerned, but a liability to any repayment is recognised when repayment becomes probable.

Policies relating to expenditure on goods and services provided to the charity.

Recognition of liabilities and expenditure

A liability, and the related expenditure, is recognised when a legal or constructive obligation exists as a result of a past event, and when it is more likely than not that a transfer of economic benefits will be required in settlement, and when the amount of the obligation can be measured or reliably estimated.

Liabilities arising from future funding commitments and constructive obligations, including performance related grants, where the timing or the amount of the future expenditure required to settle the obligation are uncertain, give rise to a provision in the accounts, which is reviewed at the accounting year end. The provision is increased to reflect any increases in liabilities, and is decreased by the utilisation of any provision within the period, and reversed if any provision is no longer required. These movements are charged or credited to the respective funds and activities to which the provision relates.

7

Hastings Storytelling Festival

Notes to the Accounts for the year ended 31 July 2025

Financial instruments including cash and bank balances

The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instrument Issues' of FRS 102 to all financial instruments.

Financial instruments are recognised when the Charity becomes party to the contractual provisions of the instrument.

Financial assets are offset, with the net presented in the accounts when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs.

Impairment of financial assets

Financial assets, other than those held at fair value through income and expenditure, are assessed for the indicators of impairment at each reporting end date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.

If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in net income/(expenditure) for the year.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in net income/(expenditure) for the year.

2 Creditors: amounts falling due within one year
Trade creditors
Accruals
Deferred Income
Other creditors
3 Income and Expenditure account summary
At 1 August 2024
Transfers in for the year
(Loss)/surplus after tax for the year
At 31 July 2025		 2025
£
-
-
-		 2024
£
-
-
-
- -
2025
£
10,806
-
(5,199)		 2024
£
452
-
10,354
5,607 10,806

8