Chelmsford Art and Cultural Festlval Charity number 1177862 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31" March 2024 Nicola Deackes Independent Examiner Chelmsford Art and Cultural Festival CONTENTS FOR THE YEAR ENDED 31st MARCH 2024 Page Trustees Annual Report Statement of financial activities Balance Sheet Notes fbrming part of the financial statements Independent examination report Chelmsford Art and Culturdl Festival TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31st MARCH 2024 REFERENCE AND ADMINISTRATIVE D￿Alls Registered Charity Name Chelmsford Art and Cultural Festival and charity number 1177862 Admln address 20 Roxwell Road. Chelmsford, Esse& CM12PP E'.hello@chelmsfordfe5tival.co.uk T:07880990443 Trustees Mr M Noble Mrs E Miller Ms Candyjoyce Mrs Jenny Flint Independent Emamlner Nicola Deackes Commencement ofActivities Activities commenced 09 April 2018 srRUCTURE, GOVERNANCE, AND MANAGEMENT Go¥emSng docurnent The charity is controlled by its governing document, a deed of Trust, and constitutes an incorporated charity Rlsk management The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assuran￿ against fraud and error. OBJEcfivES AND ACTWMES Chelmsford Arts and Culturdl Festival became a charity on 09 April 2018. The festiwal was created in response to the local community wanting more Art5 and Culture in Chelmsford. Chelmsford Art and Cultural Festival TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31st MARCH 2024 Objectives and alms 11 To promote the arts, culture, heritage and science in Chelmsford. in particular by: al encouraging public participation in the arts and culture by stsging public events, including performances and exhibitions of work of arhstic merit. workshops. talks and by such other means as the trustees may determine. bl supporting charities, arts organisations and other not for profit bodies engaged in the provision of artistic and cultural activities and events. 21 To advance education In the arts and the artistic and cultural history and heritage of Chelmsford by the provision of workshops, classes, arts projects, performances and exhibition5. 31 To further or beneftt the residents of Chelmsford, without distinction of sex. sexual orientation or race, or of political, religious or other opinions. by associating together the said resldents and the local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interests of sotial welfare for recreatrion ènd leisure time occupation with the objective of improving the conditions of life for the residents. Significant actlvities in the p.eriod Chelmsford Arts and Culture delivered an art¢ 3na LL,Iture festival between June 2023 and July 2023 which included a day of street theatre. 3 d2y of stJnnoll:.r.g, a day of science, an art exhibition, a portrait exhibition and a carnival. Chelmsford Festival secured a retail unit named Artists at The Meadows, to deliver exhibitions and workshops all year round organised by professional artisis and sponsored by Dominus and Chelmsford For You. Public benefft All events encouraged public participation in the arts and culture and brought creativity to the High street, a must in Chelmsford as a City whose inhabitants's engagement with the arts and culture is underdeveloped. also providing recreational and leisure time, supporting wellbeing and tackling loneliness. All artists engaged are Arts Council England artists to guarantee High Quality of Arts. The Festival included science as Chelmsford main heritage is its industrial heritage with the support of Chelmsford Science and Engineering society. The Carnival engaged multi layers of the local community and diverslty with many cultu￿5 tsking part. An estimated 3000 spectators came to watch the carnival whlch ended on the grounds of Chelmsford Museum. Thls allowed the Museum to recelve on this day a much rn0￿ dlverse and new audience. All the events were Successful in bringing people tO8ether and bringing quality culture and arts to an audience who would bylarge normally not engage with arts and culture. Artists at The Meadows are successful in engaging members of the public to discuss the arts, raise wareness about the cultural offer In Chelmsford and encourage attendance to cultural events. Chelmsford Art and Cultural Festival TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31st MARCH 2024 Organisatlonal information Chelmsford Arts and Cultural Festival Is managed by the trustees with the support of local organisations and individuals. Chelmsford Arts and Cultural Festival is a self-financing charity. Its income for the tax year 2023-2024 came from the balance of the 2022-2023 budget and grants and sponsorships. Chelmsford Arts and Cultural Festival does not own premises and uses vacant private and public spaces to deliver its activities Final OveNlew and Plans for the Future Chelmsford Arts and Cultural Festival 2023 helped to consolidate relationships with Arts Council England, Chelmsford City Council and Chelmsford For You (Chelmsford BID}. The plans for Chelmsford Arts and Cultural Festival 2024 are working on its sustsinability by focussing on Artists at The Meadows with the objective to strengthen local residents, engagement with culture as this is identified as an issue in ChelmsfoTd by the Thriving Places Index. This project has the added outcomes of 'bringing people together, and supporting the wellbeing for the artists involved and the wider community. Reserve Pollcy The trustee5 agree that a reserve needs to be built to act as a re5eNe to ensure the health of the charity. Approved by order of the board of trustees on the 18112124 and signed on its behalf by: Mrs E Miller- Trustee Chelmsford Art and Cultural Festival STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31st MARCH 2024 Total Funds 2024 2023 Notes Incoming resources Incoming resources from generated funds Donations and grants Sponsorship Charitable Attbvities Attivities for generating funds Total incoming resources 3,000 69,448 14,375 646 11,646 83,823 Resources expended Cost of generating funds Charitable attivities Charitable events Total resources expended 357 50,455 38,176 8,565 50,812 46,741 Net incoming/{outgoingl resources befoye transfers Gross transfers between funds (39,166) 37,082 Net incoming/(outgolng)reSour￿S (39,166) 37,082 Net movement In funds {39,166) 37,082 Totsl funds brought forward at l April 2023 50,047 12,965 Total funds carried forward at 31" March 2024 10,881 50,047 The notes on page 6-8 form part of these financial statements Chelmsford Art and Cultural Festival BALANCE SHEET FOR THE YEAR ENDED 31st MARCH 24 Notes 2024 2023 Flxed assets Tangible assets Current assets Debtors Bank balance Cash on hand 10,880 50,045 10,880 50,045 Creditors: amount falllng due wlthln one year Net current Assets 10,880 50,045 Total assets less current Ilabilities Funds of the charity Unrestricted funds Total Funds 10,880 50,045 These financial statements were approved by the Board of Trustees on and were signed on their behalf by Edith Miller Date: 18112124 Chelmsford Art and Cultural Festival NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2024 l.Accounting policies 1.1 Basls of preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities: ststements on Recommended Prathces applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20151- {Charities SORP IFRS10211, the Financial Reporting Stsndard applicable in the UK and Republic of reland IFRS102) and the Companies Act 2(h)6. Recommended Practice {SORP) issued in October 2000, revised 2005. 1.2 Incoming resources Income from donations and grants. including capital grants. i&included in Incomlng resources when these are receivable. When donors specify that donations and grants, including caprtsl grants are for a restricted purpose. this income is included in incoming resources of restricted funds when receivable. 1.3 Resources expended and recognition of Ilabllitles All expenditure is incurred on a receipts and payments basis.. The majorityof costs a￿ di￿ttlY attributsble to the specific Charitsble activities. Liabilities are recognised on the receipts and payments basis in accordan￿ with the Charity Commission accounting principles for small charities. Management and administration of the charity r=present costs incurred in the management of the Charity's assets. organisational administration and compliance with Charitsble and ststutory requirements 1.4 Depreciation Depreciation is provided to write of ihe c05t of fixed assets over their expected useful 33% Straight Line All assets 1.5 Fund Accountlng Funds held by the Charity are either: Unrestrirted general funds- These are funds which can be used in accordance with the Charitsble objects at the discretion of the Trustees Restricted funds- These are funds that can only be used for particular restricted purposes within the objerts of the Charity. Restrirtlons arise when specified by the donor or when funds are raised for particular restricted purposes. Chelmsford Art and Cultural Festival NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2024 2. Charitable Attivities Total 2024 Total 2023 Sponsorship Fundraising Crowdfunding 14,375 8,000 646 8,646 Total 2024 14,375 Total 2023 3. Grants and Donat5ons Donations/commission Grants 3,000 67,000 4. Costs of generatlng funds Total 2024 Total 2023 Sponsorshlp package Rates 357 357 Total 2024 5. Charltable activltles Total 2023 Advertisin8 P05t & Stationery Insurance Telephone & Internet Venues hire Sundries lentertainmentl thank you) Vol expenses Professional fees Equipment & infrastructure First aid Depreciation 6,665 7,285 1,389 532 217 41 250 27,817 1.176 1.390 40,319 1,423 127 50,445 Total 2024 38,176 Total 2023 6.Charltable events Visual Arts Mu51¢ Educational workshops Street theatre Comedy Dance 600 3.205 3.510 1,250 8,565 Chelmsford Art and Culturdl Festival NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2024 7. Creditors Accruals: none 8. Tangible fixed Assets (Fixtures and Fittings) No tsngible assets 8. Going Concern The charity is operating on a going con￿rn basis 9. Related Parties There were no related parties during the year 10. Restricted Funds No comparative figure5 are included in these accounts as no restricted funds were ￿ceiVed or Spent in either period Chelmsford Art and Cultural Festival INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31st MARCH 2024 I report on the accounts of Chelmsford Arts and Cultural Festival for the year ended 31 March 2024 which are set out on pages 4 to 8. Respective responsibilities of trustees and examiner The Charity's Trustees are responsible for the preparation of the accounts. The Charity's Trustees consider that an audit is not required for this year (under section 144121 of the Charities Act 2011 (The Act) but that an independent examination is needed. It is my responsibility to: Examine the accounts under section 145 of the Charities Act, To follow the procedures laid down in the General Directions given by the Charity Commissioners (Under section 14515llb} of the Charities Act, and To state whether parkncular matters have come to my attention. Basis of the independent examiner's Statement My examination was carried out in accordance with the General Direction given by the Charity Commissioners. An examination includes a review of the accounting records kept by the Charity and a comparison of the account presented with those records. It also includes considerations of any unusual items or disclosures in the accounts and seeking explanation 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 I do not express an audit opinion on the view given by the accounts. Independent examiner's statement In the course of my examination, nothing has come to my attention which gives me cause to believe that.. The accounting records were not kept in accordance with section 130 of the Charity Act; or The accounts did not accord with the accounting records: or The accounts did not comply with the applicable reqU1￿MentS concerning the form and content set out in the current Charities (Accounts and Reports) Regulations. I have come across nothing durlng my examlnation to which attention should be drawn in this report in order to enable a proper understanding of the accounts. Date: Nicola Deackes Independent Examlner