2023-09-10-accounts

TAUNTON FESTIVAL OF THE ARTS

Trustees Annual Report for the period 11[th] September 2022 to 10[th] September 2023

1. Administrative details

2. Taunton Festival of the Arts is a charity registered with the Charity Commission under No. 1179098. The registered address is “Cranford”, Bishop’s Hull. Taunton, TA1 5EW.

The Trustees serving during the period were Natasha Ballardie, Michael Chapman, Douglas Huckle, Matthew Kirby, Martin Parker, Alison Porter, Naomi Porter, Chris Beattie (from 20.11.22),Kate Cresswell (from 22.2.23), Jayne Hornsby (from 28.6.23) ,Nicola Cooper (retired 22.2.23), Jane Donoghue (retired 22.2.23), Sandra Sutton (retired 30.11.22) The Trustees’ bankers are Lloyds Bank plc.

1. Structure & Governance

2. The charity operates as a Charitable Incorporated Organisation. Its’ governing document being a constitution dated 6[th] July 2018.

3. Financial Policy

It is the Trustees policy to hold a working reserve of £3,000. The Somerset Song Prize is a restricted fund.

1. Objects The CIO object is to advance, promote and encourage for the public benefit the performing arts generally and in particular but not exclusively music, dance and speech and drama. It seeks to achieve the object through organisation of festivals, competitions and other occasional concerts, performances, workshops or suchlike events.

2. Achievements in the Accounting Period

The accounts record receipts for the General Fund totalling £21,760 with related payments of £24,047 resulting in a deficit of £2,287 for the year. The balance of the General Fund at the end of the year was £6,492

.

The Somerset Song Prize competition did not take place in this financial year. The balance of the bank account is £10,341

Further extensive use of the card machine proved successful although cash was still accepted.

The introduction of payment as a condition of entry to all events was mainly successful except for the music competitions, but will be adapted for next year.

Another successful PopVocals competition took place with the assistance of a grant from the Somerset West and Taunton Council

Signed on behalf of the Trustees

Jayne Hornsby Secretary

Michael Chapman Acting Treasurer

Approved by members on

TAUNTON FESTIVAL OF THE ARTS

(Charitable Incorporated Organisation Reg No 1179098)

ACCOUNTS FOR THE YEAR ENDED 10th SEPTEMBER 2023

GENERAL FUND

Receipts and Payments Account

Receipts Payments (note 1) (note 2) £ £ £ Events Music festival & competitions 4,785 7,066 (2,281) Drama Festival 2,346 1,581 765 Dance festival & competition 10,326 11,669 (1,343) Pop Vocals 2,248 1,160 1,088 Gala 352 796 (444) 20,057 22,272 Net surplus/(defcit) from events (2,215) Other receipts Adverts 525 Benefactors & friends 1,057 Tax refund on gift aid Miscellaneous 121 1,703 (512) Payments Insurance 250 Subscriptions 325 General promotion & website expenses 1,010 Administration & miscellaneous 190 Contribution to Chime Child (net) 1,775 Excess of receipts over payments for the year (2,287) Fund brought forward 11th September 2022 8,779 General Fund carried forward 10th September 2023 6,492 RESTRICTED FUND- SOMERSET SONG PRIZE Fund brought forward 11th September 2022 11,063 Receipts (Note 4) 150 Payments (Note 4) 872 Excess of receipts over payments for the period (722) Fund carried forward 10th September 2023 10,341 Surplus/ (Defcit)	2021-22 £ £ 152 378 (308) (476) (238) (492) 520 1,117 370 2 2,009 1,517 250 160 380 99 642 1,531 (14) 8,793 8,779 185 18,373 7,495 10,878 11,063	2021-22 £ £ 152 378 (308) (476) (238) (492) 520 1,117 370 2 2,009 1,517 250 160 380 99 642 1,531 (14) 8,793 8,779 185 18,373 7,495 10,878 11,063
		(492) 2,009
	250 160 380 99 642
		1,517 1,531
	18,373 7,495
		(14) 8,793
		8,779
		185 10,878
		11,063

Approved by the Trustees 11th October 2023

1

TAUNTON FESTIVAL OF THE ARTS

ACCOUNTS FOR THE YEAR ENDED 10th SEPTEMBER 2023

Statement of Assets and Liabilities

The principal assets of the charity are bank accounts held with Lloyds Bank. The balances of these accounts at 10th September 2023 were:

General Fund £6,492 Somerset Song Prize £10,341

As at 10th September the charity also held merchandising stock for the Dance section that cost £1,048.

The sponsorship of Pop Vocals includes a grant of £1,264 from Somerset West & Taunton Council. Not all of this has been utilised but the Council agreed that the balance of £374 may be retained towards the event to be held in 2024.

Notes

Notes 1. Analysis of receipts Entrance fees Audience admission Sponsorship Programmes Merchandise Miscellaneous 2. Analysis of payments Room hire Adjudicators - fees - expenses Prizes Cups, trophies & medals Certifcates & badges Programmes Merchandise Other direct expenses	Music Drama Dance £ £ £ £ 2,414 1,777 5,256 330 1,211 569 4,466 354 835 1,564 275 604 50 Pop Vocals
	4,785 2,346 10,326 2,248
	536 337 6,081 529 2,155 572 1,479 250 1,486 176 640 1,435 500 300 228 192 477 270 15 203 694 195 387 81 1,167 262 94 735
	7,066 1,581 11,669 1,160

3. Tax Claim

A claim has been made for the recovery of tax in relation to receipts under Gift A for the period up to 8.09.23. The relevant amounts are £715 for Somerset Song £392 in relation to Chime Child and £1,023 for the General Fund. The total of £2 was credited to the bank account on the 18th September.

4. Somerset Song Prize

This event is normally held biennially so did not take place in 2023. The receipts and payments shown in this year's accounts were residual items relating to the competition held in 2022.

10.09.22 £8.779 £11.063 Aid Prize,