Trustees Annual Report for the period 11[th] September 2023 to 31[st] July 2024
- Administrative details
Taunton Festival of the Arts is a charity registered with the Charity Commission under No. 1179098. The registered address is 34, Clifford Avenue, Taunton TA2 6DJ.
The Trustees serving during the period were Martin Parker (retired 5.6.24), Michael Chapman, Jayne Hornsby, Matthew Kirby (retired 5.6.24), Alison Porter, Naomi Porter, Christine Beattie, Kate Cresswell, Rachel Smith (from 28.2.24), Kate Rippin (from 5.6.24) and Laura Sewell (from 5.6.24).
The Trustees bankers are Lloyds Bank plc.
- Structure & Governance
The charity operates as a Charitable Incorporated Organisation. Its’ governing document being a constitution dated 6[th] July 2018.
- Financial Policy
It is the Trustees’ policy to hold a working reserve of £3,000 on General Fund. The Somerset Song Prize operates separate bank accounts including a restricted Appeal Fund.
- 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 & drama. It seeks to achieve the object through organisation of festivals, competitions and other occasional concerts, performances and workshops or similar events.
- Achievements in the Accounting Period
The accounts record receipts for the General Fund totalling £24,466 with related payments of £22,378, the Excess for the period being £2,088. A bank balance of £8,580 supported the balance of the General Fund carried forward at 31.7.24.
The Somerset Song Prize competition took place in this financial period. Receipts totalled £7,766 and payments £9,317 leaving a deficit of £1,551 , thereby reducing the balance carried forward on the SSP General Fund to £8,790 at 31.7.24. An Appeal Fund was set up during the period for which donations and interest amounted to £5,604. Bank accounts totalling £14,394 supported the combined SSP Funds as at 31.7.24.
Signed on behalf of the Trustees on
Jayne Hornsby Chairperson
Michael Chapman Acting Treasurer
Approved by members
TAUNTON FESTIVAL OF THE ARTS
(Charitable Incorporated Organisation Reg No 1179098)
ACCOUNTS FOR THE PERIOD ENDED 31st JULY 2024
GENERAL FUND
| GENERAL FUND | ||
|---|---|---|
| DRAFT Receipts Payments (note 2) (note 3) £ £ £ Events Music festval & compettons 5405 6473 (1068) Drama Festval 2889 1657 1232 Dance festval & competton D 12547 11228 1319 Pop Vocals 587 1004 (417) Gala R 366 639 (273) 21794 21001 Net surplus/(defcit) from events A 793 Other receipts Adverts F 580 Benefactors & friends 383 Tax refund on gif aid T 1317 Tax refund re Chime Child (2022) 392 Miscellaneous - 2672 3465 Payments Insurance 300 Subscriptons 348 General promoton & website expenses 331 Administraton & miscellaneous 148 Bursary grant 250 D 1377 Excess of receipts over payments for the period R 2088 Fund brought forward 11th September 2023 A 6492 General Fund carried forward 31st July 2024 F 8580 T Surplus/ (Defcit) |
£ £ (2281) 765 (1343) 1088 (444) (2215) 525 1057 - - 121 1703 (512) 250 325 1010 190 - 1775 (2287) 8779 6492 Year Ended 10th September 2023 |
|
| (2215) 1703 |
||
| 250 325 1010 190 - |
||
| (512) 1775 |
||
| (2287) 8779 |
||
| 6492 | ||
Approved by the Trustees
1
TAUNTON DESTIVAL OF THE ARTS
ACCOUNTS FOR THE PERIOD ENDED 31ST JULY 2024
SOMERSET SONG PRIZE
General Fund
| DRAFT Receipts Competton entry fees Audience admission & programme sales Programme adverts Supporters subscriptons D Donatons Tax reclaimed under gif aid R Interest received A Payments Venue hire R Accomodaton of compettors Piano tuning T Adjudicators fees & expenses Prizes Cups, trophies & medals Programmes Promoton Administraton & miscellaneous Excess of receipts over payments for the period Fund brought forward 11th September 2023 General Fund carried forward 31st July 2024 |
£ 1660 512 785 630 2801 1353 25 |
£ 7766 9317 |
|---|---|---|
| 420 2573 120 2795 3000 98 - 90 221 |
||
Restricted Fund - SSP Appeal Fund
| Receipts Donatons Interest received Appeal Fund carried forward 31st July 2024 |
5551 53 |
|---|---|
| 5604 |
The Somerset Song Prize competition is normally held biennially so there was no activity in 2023. Thus, the comparative figures are for the competition that took place in 2022.
An appeal was initiated during the period with the objective of creating a fund to secure the long term future of the Somerset Song Prize.
As at the end of the period there was unbilled expenditure amounting to approximately £500 for programmes and promotion.
2
TAUNTON FESTIVAL OF THE ARTS
ACCOUNTS FOR THE PERIOD ENDED 31st JULY 2024
STATEMENT OF ASSETS AND LIABILITIES
The principal assets of the charity are bank accounts held with Lloyds Bank. The balances of these accounts at 31st July 2024 were:
DRAFT
| 10.09.23 | ||
|---|---|---|
| General Fund | £8,580 | £6,492 |
| Somerset Song Prize | £14,394 | £10,341 |
As at 31st July the charity also held merchandising stock for the Dance section that cost £382 (10.09.23 - £1,048).
NOTES
1 . The accounts have been prepared on a Receipts and Payments basis.
- Analysis of receipts
| 2. Analysis of receipts Entrance fees Audience admission Sponsorship D Programmes Merchandise R Refund of venue hire 2023 Miscellaneous A F 3. Analysis of payments Venue and room hire T Adjudicators - fees - expenses Prizes Cups, trophies & medals Certfcates & badges Programmes Merchandise (note 4a) Lunches, food & other direct expenses |
Pop Music Drama Dance Vocals £ £ £ £ 2727 2238 6032 229 1090 489 4853 291 955 450 297 162 261 67 951 326 10 |
| 5405 2889 12547 587 |
|
| 460 303 7773 516 2155 774 1561 145 1245 194 727 47 1165 450 120 27 104 334 597 209 300 63 - 747 177 56 113 |
|
| 6473 1657 11228 1004 |
4. General
-
a) The reduction in the merchandise stock of £666, as noted above, would be set against the sales receipts and reduce the Dance surplus for the period.
-
b) The deficit on Pop Vocals was largely covered by the balance of £374 brought forward
from last year of the grant received from Somerset West & Taunton Council.