CHARITY REGISTRATION NUMBER: 1182255 STROUD FESTIVAL Financial Statements 31 March 2024 House of Tax 10 Springdale Close Hardwicke Gloucester GL2 4JD
STROUD FESTIVAL Financial Statements Year ended 31 March 2024 Page Trustees, annual report Independent exarniner's report to the trustees statement of financial activities statement of financial position Notes to the financial statements The following pages do not form part of the financial statements Detailed ststement of financial activities 13 Notes to the detailed statement of financial activities 14
STROUD FESTIVAL Trustees. Annual Report Year ended 31 March 2024 The trustees present their report and th8 unaudtted financial statemants of the charity for th8 year endad 31 March 2024. Reference and adminlstrative details Registerod charity name STROUD FESTIVAL Charity registration nun 1182255 Prlncipal offl¢e 2 Uplands Villas Springfield Road Uplands Slroud GL5 1TR The trustees J Greenshlelds J Collins J Gavin Company s•¢retary J GREENSHIELDS Independenl examiner HOUSE OF TAX 10 Springdale Clo8 Hardwicke Gloucester GL2 4JD Structure. governan¢e and managemont The charrty is registered with the Charity Commission number 1182255. Stroud Festival is a charltablo incorporated organisation. ObjeG¢lves and actlvltles The charity's objective is lo as91st in fhe advancement ol educatron. The principal activity of the charity during the ye8r was to promole the annual Stroud Festival. The truste have had due regard to the gui(Jance published by the Charity C(Mnmission on public benefiL
STROUD FESTIVAL Trustees. Annual Report (Gothiftued) Year ended 31 March 2024 Tiuslees, Annual Report for the Fin2neial Year Ending 31 March 2024 Stroud Art5 Festival Achievements and Perfomiance The 77th Annual Stroud Arts FestNal {22-29 October 2023) showcased diverse programming across the arts. multiple gonros and formats. Throughout the year. the festival delivered and supported numerous events, enriching Stroud's cultijral calendar and furthering its mission to make the arts accessible to all. Approximately 1.200 people attended Stroud Arts Festival's own events. generating net ticket receipts of £12,004. June.. The ChoSr of Clare College Cambridge perfomied a Summer Concert under the direction of Graham Ross al Holy Trinity Church. Thls event. supported by an exceptional £5,000 grant from the M&NB Trust, captivated audience5 Wlth world<lass choral music. Octob•r'. Seven main events during fe51ival week were programmed by Artistic Director Dave AY lo appeal to a broad audience with genres spanning dassical. jazz, op&ra, and musical theatre. High1hts included.. Relaxed Opera: Inclusive perfomiances featuring Abigail Sudbury, Allstslr Sulhedand, artd the Siroud Arts Festival Ensemble. Bristol Ensemble.. Orchestral celebral*)n of Pink Floyd's Dark Side of the Moon. Jazz Night.. Duke EHington's Sacred Conc8rt and Will Todd's Mass in Blue. involving a community choir under the composerfs direction. Visual Arts." 7he Weaving Tapestry of Connections. (xjrated by Katy Sirr, induded The Hands Project and WOTks from local arbsts. Slroud Arts Festival also supported lo(xl artists and audiences through grants1£2,759) and sponsorships1£3.400). funding projects such as= Art w0$hop8 for isolated individuals (The Loneliness Projecll, participatory events (Landscapes of the Lartl, and youth creative writing (ln Our Own Words). Theatre projects at the Cotswold Playhouse (Circus Tales and Through Female Eyes)- Movemenl and dan workshops. the dosing event of Stroud Book Festiva celebrating Laurie Lee. and the contemporary music festival Hffjden Notes. Financial Review The festival received £25.000 for activities during the financAal year 2023-2024. These fund5 were allocated across festival activiti8s, grants, sponsorships. and operab.ng costs. Highlights of financial dlstribulion include.. Festival Programming.. Supported by tid(et sales and grarts. including £5.000 from the M&NB Trust. Grants and Sponsorships." Totalling £6,159, lunding local arts and community projects. Operating Costs.. Supported festival administration and Coofdination.
STROUD FESTIVAL Trustees. Annual Report {rontlnu¢dJ Year ended 31 March 2024 Plans for Futur8 Perlods Looking ahead, Stroud Arts Festival remains committed lo its mission of fostering creativity. indusivity, and artistic excellence. Key priorities for fLrture periods indude.. Expanding Outreach: Increasing engagement wth local communities through tailored arts programs. 2. Sustaining Collaboration: Strengthening partnerships with local and national artists, institub"ons, and funders. 3. Innovative Programming.. Continuing lo offer diverse artistic experiences that resonate wtth broad and varied audiences. 4. Funding Growth: Securing additional resources to sustain atKI exparKI the lestival's offerings and communty support initiatives. By bL¢ilding cm the suixesses of 2023-2024, Stroud Arts Festival aims to inspire. connect. and engage au¢Jiences and artists alikg in the year8 to come. Stroud Fe8tiv81 CIO Trustees are extremely grateful for the continued financial support from the Margaret and Neljam Bigg TnJsL The trustees, annual report was approved on 28th January 2025 and signed on t*haff of the board of trustees by.. J Greenshields Trustee
STROUD FESTIVAL Indendent Examinerfs Report to the Trustees of STROUD FESTIVAL Year ended 31 March 2024 I report to the trustees on my examination of Ihe fflnancial stalements of STROUD FESTIVAL I'the chariv) for the year ended 31 March 2024. Responslbllitios and basis of report As the trustees of the charity you are responsible for the preparation of the financial statgments in accordance wilh the requirements of the Charities Act 2011 {'Ihe Act'i. I report in respect of my examination of the charity's financial statements carried out uftder section 145 of the 2011 Ad and in carrying out my examination I have followed all the applicable Directtons given by the Charity Commission under section 145{5llb} of the ACL Independent examinerfs statement I have completed my examination. I nfirn7 that no material rnatters have come to my attention in connection wtth the examination giving me cause to believe that in any material respect: accAiunting records were not kept in respecl of charity as required by section 130 of Ihe the financial statements do not accord with tlSe records., or the financial staÉements do not comply with the applicable requirements conceming the fomi and content of accounts set out in the Charities IAccounts and Reports) Regulations 2008 other than any requirement that Ihe accounts give a 'true and faif view which ts not a matter considered as part of an independent examination. I have no COnm5 and have (x)me across no other matters in conneciion wilh the examination to whith altenlion should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Katherine Ford FMAT A IndepeNlent Examiner House ofTax 10 Springdale Close Harrlwck8 Gloucester GL24JD
STROUD FESTIVAL statement of Financial Activities Year ended 31 March 2024 2024 Restricted funds Total fijnds Total fijnds 2023 Unrestricted fvnds Income and endowments Donations and legacies Investment income Other income 17,3 252 25,000 42,642 17.390 252 25.000 22,881 203 15,000 Total income 42.642 38.084 Expenditure Expenditure on charitable activities Total 8xndIre 48.098 48,098 41,102 48.098 48.098 41.102 Net {expenditurelllncome and net movement in funds (5,456) 15,4561 13,0181 Reconciliation of funds Totsl funds brought forward Total funds carrled forward 7,692 10.0(M) 17.692 20,710 2.236 10.000 12.236 17,692 The statement of financi818ctivities includes 811 gains and losses recc*Jnised in the year. All income and expenditure delive from continuing acts"vitie$. Tho not•s on paw 7 to 12 form part of these flnancial $talement
STROUD FESTIVAL Statemenl of Financial Position 31 March 2024 2024 2023 Current assets Debtors Cash at bank and in hand 13 150 12,236 12,386 450 17.417 17,867 CredltoYs.- amounts falllng due wlthln one year Net current assets 14 150 175 12.236 17,692 Totsl assets less current liabilitiès 12.236 17.692 Net assets 12.236 17,692 Funds of the charlty Restricted funds Unrestricted funds 10,000 2,236 10,000 7.692 Totsl charlty funds 15 12.236 17.692 These financial statements were approved by the board of truslees and aulhorised for Issue on 28 January 2025, and are signed on behalf of the board by." ollins Trustee J Gavi Trustee Thg notss on pag9¥ 7 to 12 lomi part ofthese flnancial statem•nts.
STROUD FESTIVAL Notes to th¢ FinanGial Statements Year ended 31 March 2024 G¢neral inforniation The charity r8 a public benefit entity and a registered charlty in England and Wales and is unincorw)raled. The addre of the principal office is 2 Uplands Villas. Springfield Road, Uplands. Slroud. GL5 ITR. statement of compllance These financial slalements have been preparod in compliance wilh FRS 102. The Financial Reporting Slandard applicabl8 in the UK and the Republic of Ireland,. the Statement of Recommended practi applicable to charities pparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (Charities SORP (FRS 102)) and the Charities Act 2011. Accounting polfclos Basis of preparation The financial statements have been prepared on the historfcal st basis. as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The finanual slalements are prepared in steding, Ythith is the functional currency of the entity and are rounded to the nearest £. Going conGgm There are no material uncertainties aljout the charivs ability to o)ntinue. Disclosure exomptlons The entity satlsfies the criteria of being a qualtfying entity as defined in FRS 102. As such, advantage has been tsken of the foHowng disdosure exemptions 8vailablo under paragraph 1.12ofFRS 102.. No c8sh flow statement has been presented for the company. Disdosures In respect of finanaal instruments have no been presented. Judgements and koy sourcos of gslimation uncertainty The preparation of the financial statements rUireS management to make judgements. estimates and assumptions that affect the amounts rep)rted. These estimates and judgements are wnliTrually rèvtewed and are based on experience and other factors. including expectalions offvture events th are believed to bg reasonable under the GirmstanCes.
STROUD FESTIVAL Notes to the Financial Statements (Ctsnllnuerfj Year ended 31 March 2024 A¢¢ounth)g pollc108 (wR*inwdJ Fund accountlng Unrestricted fuMIs 8re available for use at tho discretion of the twstees lo further any of the charivs purposes. Designated funds are unrestricted funds eamiafited by the trustees for parti(yJ18r future projed or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the dono¥ or through the temis of an appeal and fall into one of two sub<lasses: $trIcted income funds ¢x endowment fijnds. Incoming ro$OUe8 All inrA)mlng resources are included in the staterEJent of financlal activilies when entitlement has passed to the charity-, it is probable that the economic benefits associated with the transaction will flow to the charfty and the amount can be reliably measured. The following specific policies are applied to particular categories of inc(xne'. income from donations or grants is recoJnised when there is evidence of enlitlemenl to Ihe gift, reIpl is probable and 115 amount can be measur1 reliabty. legacy income is recognised when receipt is probable and entitlernent IS 8stsblished. income from donated goods is measured at the fair valtje of the gd$ unless this is impractical to measure reliabty, in which case the value is derived from the cost to the donor or the eslimaled resaFe value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are includ&1 for the contribub'on of general volunleefs. income from contracts for the supply of services is recognised with the delivery of the contracted seN1. This is class¢fied as unrestricted funds unless there is a contractual requirement for It to be spent on a particular purpose and retumed rf Llnspent. in which case it may be regarded as restrted.
STROUD FESTIVAL Notes to the Financial Statements (conttnue¢l Year ended 31 March 2024 Accountlng policies (contin) Resour¢•s expended Expenditure is recognised on an accruals basis as a liabilty is bncurred. Expendllure includes any VAT which cann(rt be knlly recovered, and is dassified under headings of the stslement of financial activities lo whith il relates.. expendilurg on raising funds indudes the (r)sts of all fundraising activibgs, events. non- charitable trading activities. and the salo of donated go$. expenditure on charitable actiwties indudes all costs incurred by a charity in undertaking activities thal further its charitable aims for the bene)It of its beneficiari&s. including those support costs and costs relating to the g0Veman of the charity apportioned to charitable activities. other expenditure incluL1es all expenditure that is neither related lo raising fvrs for the charity nor part of its expendrture on charitsble 8Ctivilies. All costs are allotd to expenditure categories refiecting the use of the resource. Direct costs attributable lo a single atithvity are allocated directly to thal activity. Shared cosls are apportied between the activities they contribute lo on a reasonable, justsfiable and consistent basis. Financlal Instruments Financial instruments are classified and accour)ted for, according lo the substance of the contractual arrangement, as eilh8r financial assets. financial liabilib.es or equity instruments. An equity instrument is any contract that eviden5 a residual interest in the assets of the company after deducting all of its liabilities. Donatlons and legacies Unrestricted Total Funds Unrestiicted Total Funds Funds 2024 Funds 2023 Donations Ticket sales Advert Sales Sponsorship 16.640 16,640 14,561 370 14,561 370 7,950 750 750 Gifts Gifts 17.390 17.390 22.881 22,881 Investment Income UnreriGled Total Funds Unreglricted Total Funds Funds 2024 Funds 2023 Bank interest receivaNe 252 252 203 203
STROUD FESTIVAL Notes to the FinanGial Statsments (continuod) Year ended 31 March 2024 Olh¢r income Unrestricted Total Funds Unrestricted Total Funds FL¢nds 2024 Fsjnds 20T3 Margaret and Neuam Bigg Trust 25.000 25.1)00 15.000 15.000 Expendliurg on charftsblg activitios by fund type Unrestricted Totsl Funds Unrestricted Total Funds Funds 2024 Funds 2023 Charitablg activity Support costs 42.088 6.010 48.098 42,088 6,010 36,117 4,985 36.11T 4.985 41,102 48.098 41,102 Expendlture on charftable activities by activity typo Activities undertaken directly Support Total funds costs 2024 Total fund 2023 Charitsble activity Governance costs 42,088 42,088 6,010 36,117 4,985 41,102 6.010 42,088 6,010 48,098 Anatysis of support costs Analysis of support costs Total 2024 Totsl 2023 Communications and IT General office Govemance costs 253 3.607 2,150 253 3,607 2.150 416 1.894 2,675 6.010 6.010 4,985 10. Independent examination fees 2024 2023 Fees payable to the independent examiner fcr. Indendent examination of the financial slatsments 150 175 11. Staff costs The lolal staff costs and employee benefits for the repottng period are analysed as follows.. 2024 2023 The average head (x)unt of employees during the yearwas Nil {2023: Nil). -1D-
STROUD FESTIVAL Notes to the Financial Statements (Conllnwdl Year ended 31 March 2024 11. Staff costs (¢onllnu¥d) No employee reiVed employee beneffts of more than £60,000 during Ihe year12023.. Nill. 12. Trusleg remuneration and expenses No remuneration or other benefits from ernployment with th& charity or a related enlity were received by the twstees. 13. Debtors 2024 2023 PrepayTnenls and accrued income 150 450 14. Greaitws: amounts falllng due withln one year 2024 2023 Accruals and deferred income 150 175 15. Analysls of charitable funds Unre5tTiCted funds At 1 April 2023 At31 Income Expenditure Mah 2024 General funds 7.692 42,642 48.098 2,236 Restricted funds A131 Income Expenditurt March 2024 1 April 2023 Capital reserve 10.000 10.000 16. Analysls of not assets betweèn funds Unrestricted Funds Restricted Total Funds Funds 2024 Current assets Creditors less than 1 year Net assets 2,386 11501 2.236 10,000 12,386 1150) 12,236 {10.0001 Unrestricted Funds Restricted Total Funds Funds 2023 Current assets Creditors less than 1 year Net assets 10,361 1175} 10,186 10,000 20.361 11751 20,186 10.000 11
STROUD FESTIVAL Management Information Year ended 31 March 2024 The following pages do not forni part of the financlal statements. 12-
STROUD FESTIVAL Detailed Statement of Financial Activities Year ended 31 March 2024 2024 2023 Income and endowments Donations and legacies Ticket sales Donalionslsponsorship Advertlsing 16.640 750 14.562 7,950 370 17,390 22.882 Invostment income Bank interest recewable 252 202 Other income Margaret and Nellam Bigg Trust 25.000 15,000 Totsl income 42.642 38,084 Expendltura Expenditure on charitablo adlvltlos Direct festival costs Hire of premises and equipment Advertising publicFty Festival C(Ordinal0r Administration expenses Other g0Veman costs 30,478 7,304 4,306 2,000 3,860 150 23.717 5,403 6,997 2,500 2,310 175 48.098 41,102 Total expenditure 48,098 41,102 Net {oxponditurallincom8 (5.456) (3,018) 13-
STROUD FESTIVAL Notes to the Detailed Statement of Financial Activities Year ended 31 March 2024 2024 2023 Exponditure on ¢haritsb18 activities Charltabl¢ •¢tlvlty Activities undertaken dir8cty DI¢t festival costs Hire of premises and equipment Advertising aThJ publicity 30.478 7,304 4,306 23,717 5,403 6,997 42.088 36,117 Gov•man¢e costs Festival co-ordinator Administration expenses other governance costs 2,000 3,860 150 2.5(X) 2,310 175 6.010 4,985 ExpeDdKure on charltable actlvltles 48,098 41,102 14.