BRISTOL FOLK HOUSE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Company Registralion Number 11752084 Charity Number 1184395
BRISTOL FOLK HOUSE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2024 Contents Pages Trustees. Annual Report 1to4 Reference & Administrative Infomiation Independenl Examiner's Report Statement of Financial Activities Balance sheet Statement of Cash Flows Notes to the financial statements 10t019
BRISTOL FOLK HOUSE TRUSTEES. ANNUAL REPORT YEAR ENDED 31 AUGUST 2024 The Trustees present their report and financial statements for the year ended 31 August 2024. This year has brought successes for Bristol Folk House. After the major challenges our organisation faced. we are proud as a charity to have emerged from this period with a strategy for our future and this year sees the first full year of ils implementation. Beyond our core business, our achievements have included.. Community Engagement & Inclusion: We were able to work beyond our building and outreach to diverse communities in Bristol through patherships with charities, the diversifiG4tion of our events program to attract new aUdIenS (Latin Project, Salsa, etc.}, offering free course spaces, and providing support for students with carers. It emphasizes our ongoing commitment lo accessibility and community building. Creative Programming & Innovation.. We lebrate a diverse range of courses including new offers. Workshops, the success of the darkroom program, the innovative use of social media, and the café's growing popularity. This underscores our commitment to staying relevant and offering unique experiences. Operational Excellence & Sustainability.. We continue to prioritise improvements in accessibility, as well as good staff retention, efficient room utilisation, and the skill-share training for staff. We are committed to continuous improvement and responsible management. Marketing & Outreach.. We have seen the evolution of a sucSsful social media strategy, increased engagement, Bristol Bid events, the café's growing popularity and the successful flea markets. This demonstrates our efforts to raise awareness and attract new audiences. Financial Stability & Resour Development- Finally, we continue to operate sustainably and sensibly wilh a surplus, and ongoing efforts to build up financial reserves. It demonstrates our responsible financial management and preparedness to invest in Ihe future. We are supported in everything we do by a strong team of staff and volunteers without whom none of this would be possible. Objectives and activities In October 2022, we published our first fomial strategy which builds on the objectives of the charity laid out in the Articles of Incorporation dated 7th January 2019.. Our charitable objective The charitable purposes of the Charity are to improve the conditions of life of the inhabitants of Bristol and surrounding districts by the provision and maintenance of a ntre for adult education, recreation and other leisure lime occupations. Our vision Engaging Bristol.. to learn, make, create, appreciate
BRISTOL FOLK HOUSE TRUSTEES. ANNUAL REPORT YEAR ENDED 31 AUGUST 2024 Our mission To be stimulating, engaging and inclusive through.. Inspiring Ideas Crealing Crafts Celebrating Arts Sparking Spiril Connecting Community Providing Opportunities Involving You Our slrategic themes We want to set oul an ambitious, visible and sustainable role today and into the future We want to support our existing participants and increase the diversity of our audience We want to connect with communities and partners We want to evolve our offer To deliver this, Ihe charity designs and facilitates educational courses and workshops, provides other leisure activities, SoUrS and deploys appropriately qualified tutors and manages paid stsff and volunteers. The leisure activities which the Folk House hosts includes a programme of music and entertainment events, festivals, concerts, poetry readings, lectures, comedy nights, art and craft fairs, exhibitions eto. Events include cxjllaboration with other creative and charitable organisations across Bristol. The environment is further enhanced by the Folk House Cafe which provides food and drink for our students, tulors and passers-by. This is operated by the Folk House Trading Company which is wholly owned by the charity. In delivering its services to the public, the charity has regard to the Commission's public benefit guidance and inlends no delrimenl or harm from its purpose to people, property or the environment. The freehold of the Folk House site was originally purchased in 1965 for the same purposes as today. Siluated in the centre of Ihe city, the freehold is a valuable asset of the charity and a convenient location for its patrons. Achievements, perfomiance and financial review It is difficult to separate performance and finance as our business model is based on the fees paid by our sludenls being the primary source of income. Therefore, in general terms, Ihe more beneficial adult education delivered, the greater the income. This year totsl income was £750k, which is a 10% increase on 22-23 up from £679k. Within this figure the income from Gharilable activities was £737k. Expenditure of £617k reflected the increasing staff
BRISTOL FOLK HOUSE TRUSTEES. ANNUAL REPORT YEAR ENDED 31 AUGUST 2024 costs and otheroverheads. In comparison to 22-23 when expenditure was £593k, this is a 40/0 increase, we've SUCssfUllY increased income whilst keeping (x)sts under wntrol. At year end, a cash balan of£486k was held. within which the Trustees hold a general reserves fund of £80k to cover ourselves in Ihe face of unforeseen events. An increase in cash position of £133k for the financial year. The year on year conlinuingly improving financial position ensures we can move forward with phase 2 of the Accessibiliiy Project wilh confidence. Neither during the reporting period nor at the lime of approval were there any UnrtaIntieS about the charity's ability lo continue as a going concem. During the period of reporting, no fund or subsidiary undertaking is materially in deficit. Reserves Policy The trustees resetve policy is to hold a reseNe of £30k to cover any major urgent building maintenance requirement. The trustees plan to review this policy in the coming year. At the year end the charity held free reserves (total funds less any restricted, less illiquid fixed assets but including the designated Contingency fund) of 221,507. The trustees acknowledge that free reserves are well above the policy amount and expect these to reduce wilh an anticipated building project. Neither during the reporting period nor at the lime of approval were there any UnrtaIntieS about the charity's ability to continue as a going concern. Structure, governance and management The goveming document underwhich the charily exists is the Articles of Association Bristol Folk House, Incorporated on 7 January 2019. The charity is constituted as a Private Limited Company by guarantee without share capital. The principal source offunds comes from the fees paid by students for courses and workshops as well as other fundraising events in line wilh the charity's primary purpose. There is no corporate funding from government sources, national or local. Thus the charity is totally financially independent. The Board ofTrustees meets bimonthly and there is a monthly Operations Management Group meeting comprising two trustees delegated by the Board of Trustees. The purpose of this group is lo ensure delivery of the charitable purpose and to address matters arising from that delivery. Trustees are recruited by advertising. No other extemal body or person is entilled to appoint a trustee.
BRISTOL FOLK HOUSE TRUSTEES. ANNUAL REPORT YEAR ENDED 31 AUGUST 2024 Trustees, responsibilities in relation to the financial statements The Irustees (who are also directors of Bristol Folk House for Ihe purposes of company lawl are responsible for preparing the Trustees. Report (incorporating the strategic report and directors, report) and the financial statements in accordan with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (Uniled Kingdom Accepted Accounling Practi). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to- select suitable accounting policies and then apply ihem consistenlly., observe the methods and principles in the Charities SORP- make judgments and accounting estimates that are reasonable and prudent., stale whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements., and prepare the financial statemenls on the going conrn basis unless it is inappropriate to presume that the charitable company will continue in business. The Iruslees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any lime the financial position of the charitable company and enable them lo ensure that Ihe financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitsble company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approval of Accounts The accounts were approved on behalf of the Trustees on 19 March 2025 ..by: Matthew Bazeley-Bell Chair of the Board of Truslees
BRISTOL FOLK HOUSE REFERENCE & ADMINISTRATIVE INFORMATION YEAR ENDED 31 AUGUST 2024 Company number 11752084 Charity number 1184395 Trustees The Trustees (who are directors for Ihe purpose of company lawl who have served during the year and since Ihe year end were as follows.. Matthew Bazeley-Bell Marguerite Knight Graham Knight Robert Pepper Richard Bretton Isabelle Ryan Julie Williams Rachel Williams Ariana Ahmadi Chair Vice-chair Minute Secretary (From 20 November 20241 (Resigned 20 November 20241 (Chair until 20 November 20241 Registered Office 40A Park Street Bristol. BS1 5JG Independent Examiner Joshua Kingslon Bsc ACA Burton Sweet Limited The Clock Tower 5 Fadeigh Court Old Weston Road Flax Bourton Bristol BS48 1 UR
BRISTOL FOLK HOUSE INDEPENDENT EXAMINER'S REPORT YEAR ENDED 31 AUGUST 2024 I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2024. Responsibilities and basis of report As the charity's trustees of the Company (and also its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 {'the 2006 Act'l. Having satisfied myself that the accounts of the Company are nol required to be audited under Part 16 of Ihe 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounls as carried out under section 145 of the Charities Acl 2011 {'the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515) Ib) of the 2011 Act. Independent examiner's statement Since the Company's gross income exeded £250,000 your examiner musl be a member of a body listed in section 145 of the 2011 Acl. I confimi that l am qualified lo undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirrn that no matters have come to my attention in connection with the examination giving me cause to believe.. accounting records were not kept in respect of the Company as required by sectKJn 386 of the 2006 Act., or the accounts do not accord with those records" or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view which is not a matter considered as part of an independent exarnination,. or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by Gharilies applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021. I have no COnrS and have come across no other matters in connection with the examinalion to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Joshua Kingston Bsc ACA Burton Sweet Limited The Clock Tower 5 Fadeigh Court Old Weston Road Flax Bourton Bristol BS48 1 UR Date 19 March 2025
BRISTOL FOLK HOUSE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME & EXPENDITURE ACCOUNT YEAR ENDED 31 AUGUST 2024 Unrestricted Funds Restricted Total Funds Total Funds Funds 2024 2023 Note Income from: Donations and legacies Charitable activities Investments 5,899 737,403 6,578 5,899 737.403 6,578 9,142 669,814 579 Totsl income 749.880 749,880 679,535 Expenditure on: Raising funds Charitable activities 1,040 615,743 1,040 615,774 498 592,600 31 Total expenditure 616,783 31 616,814 593,098 Net incomellexpenditurel and net movement in funds 133.097 1311 133,066 86,437 Total funds at start of year 15 299,957 52 300,009 213,572 Total funds at end of year 15 433.054 21 433,075 300,009 The Charity has no recognised gains or losses other than the results for the year as set out above. All of the activities of the charity are classed as continuing. The comparative Statement of Financial Activities can be found in note 8 The notes on page5 10 to 19 form part of these financial statements
BRISTOL FOLK HOUSE BALANCE SHEET AS AT 31 AUGUST 2024 Company number: 11752084 2024 2023 Note Fixed assets Tangible assets Investments 136,546 133,671 10 136,547 133,672 Current assets Debtors Cash at bank and in hand 11 28,080 486,203 22,175 359,671 514,283 381,846 Liabiliti8$ Creditors Amounls falling due within one year Net current assets 12 1217,7551 296,528 1215,509} 166,337 Total assets less current liabilities 433,075 300,009 Ngt assets 433,075 300,009 Funds Unrestricted funds Restricted funds 16 16 433,054 21 299,957 52 Total fund$ 433,075 300,009 For the year ending 31 August 2024 the charity was entitled lo exemption from audit under section 477 of the Companies Act 2006 relating lo small companies. Trustees responsibilities.. The members have not required the company to obtain an audit of its a¢¢ounts for the year in question in accordance with section 144121 of the Charities Act 2011. The members have not required the charity to obtain an audit of its financial statements for the year in question in accordance with section 476., The trustees acknowledge their responsibilities for complying with the requirements of the Act wlh respect to accounting records and the preparation of financial slalements. These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act applicable to small companies subject to the small companies reqime and in accordan with FRS102 SORP. These financial statements were approved by the Trustees on. 19 March 2025 and are signed on their behalf by.. Matthew Bazeley-Bell Chair of Trustees The notes on pages 10 to 19 form part of these financial Statements
BRISTOL FOLK HOUSE STATEMENT OF CASH FLOWS YEAR ENDED 31 AUGUST 2024 2024 2023 Note Net cash inflow from operating activities 13 131,861 105.942 Non-operational cash flows: Investing activities Payments for tangible fixed assets Interest received on investments 111,9071 6,578 182,4401 579 15,3291 181,8611 Net cash inflowlloufflow) for the year 14 126,532 24,081 Cashflow Restrictions Charity law prohibits the use of nel cash inflows on any endowed or other restricted fund to offset net cash oufflows on any fund outside its own objects, except on special authority. In practice, this restriction has not had any effect on cash flows for the year. The notes on pages 10 to 19 form part of these flnanclal statements
BRISTOL FOLK HOUSE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2024 1 Accounting policies Accounting convention The financial slalements have been prepared in accordance with the historical cost convention lexcepl where otheiSe stated in the accounting policy note) and in accordance with the Slalement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} issued in October 2019, and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021, and the Companies Act 2006. The Charity is a public benefit entity 8$ defined under FRS102. The Trustees Consider that there are no material uncertainties affecting the ability of the charity to continue as a going concern. The Trustees, have considered the national cost of living crisis and their effect on the charity and the wider economy when assessing going concem. Income Income from donations is included in income when these are receivable, except as follows- l. When donors specify that donations given to the charity must be used in future accounting periods. the income is deferred until those periods., 11. When donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred until the pr&condilions have been met. Expenditure Expenditure is recognised in the period in which it is incurred. Expenditure includes allribulable VAT which cannot be recovered. Raising funds Raising funds expenditure include those costs incurred in seeking voluntary contributions, Costs of goods sold and other costs which include the costs of running and participating in fundraising events and collections and cost of goods purchased for resale. Charitable Activities Charitable activity costs have been reported on a functional basis as allowed by the SORP for smaller charities. Govemance costs Governance costs include those costs associated with meeting the conslilulional and statutory requirements of the charity and include the examination fees and costs linked to the strategic management of the charity. Governance costs are included within charitable activity costs. Fund accounting Unrestricted funds can be used in accordance with the charitable objects at the discretion of the Iruslees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Designated funds form part of unreslri¢led funds and have been identified as being for particular purposes by the Trustees. They are not restricted and can be transferred lo general funds at any time at the discretion of the Trustees. 10
BRISTOL FOLK HOUSE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2024 1 Accounting policies Icontinuedl Investments Investments are stated at market value al the balance sheet dale. The Slalement of Financial Activities includes the nel gains and losses arising on revaluations and disposals throughout the year. Investments in subsidiaries are valued at cost less provision for impairment. Tangible fixed assets Tangible fixed assets are staled al cost le88 depreciation, which is provided at rates ¢al¢ulated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives. Depreciation Depreciation is calculated so 85 to write off the c05t or valuation of an asset, less its residual value, over the useful economic life of that asset as follows.. Plant and Machinery Fixtures and fittings Office equipment Building improvements Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments th 8 short maturity of three months or less from Ihe date of acquisition or opening of the deposit or similar account. . 5 years slraight line . 5 years straight line . 5 years straight line . 20 years straight line Debtors Trade and other debtors are recognised at the selllement amount due after any trade dis¢ounl offered. Prepayments are valued at the amount prepaid nel of any trade discounts due. Creditors and provision$ Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowinq for any trade discounts due. 2 Income from: Donations and legacies Unrestricted Funds Restricted Total Funds Total Funds Funds 2024 2023 Donations Grants received Other income 5.839 5,839 6,316 2,800 26 60 60 5,899 5,899 9,142 All income from donations and legacies in Ihe prior year was for unreslricled funds except for £2.800 received as a grant. The charity received no such grants in 2024.
BRISTOL FOLK HOUSE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2024 3 Income from: Charitable activitie5 Unrestricted Funds Restricted Total Funds Total Funds Funds 2024 2023 Course fee8 and cancellation fees Events Room hire Membership Miscellaneous sales 639,485 43,065 48.345 5,910 598 639,485 43,065 48,345 5,910 598 581,046 34,230 49,038 5,223 277 737.403 737,403 669,814 All income from charitable activities in the prior year was for unreslricled funds. 4 Expenditure on- Charitable activities Unrestricted Funds Restricted Total Funds Total Funds Funds 2024 2023 Direct costs Materials for classes Class tutors, fees Choir Events costs Outdoor space expenditure Prospectus Licences Direct S818ry costs Support costs Premises costs Computer and software Cleaning & repairs Admin salaries Office costs offi equipment rental Heal & light Bank charges Depreciation Sundry expenditure Professional fees Accounting fees Govemance costs Independent examiner's fees 44.462 210,162 5.360 3,166 44,462 210,162 5,360 3,166 31 10,152 2,521 97.664 36,299 199,666 4,703 22,073 2,748 6,147 2,287 87,914 31 10.152 2,521 97.664 18.798 16,010 21,445 102,505 18.231 7,317 29.067 13.763 9,033 2,504 18.798 16,010 21,445 102,505 18,231 7,317 29,067 13,763 9,033 2,504 18,754 14,621 42,553 56,660 14,668 6,726 49,822 12,191 8,107 1,113 263 3,299 1.399 1,399 2.184 2,184 1,986 615,743 31 615,774 592,600 All expenditure on charitable activities in the prior year was from unrestricted funds, except for outdoor space expenditure amounting to £ 2,748, which was restricted. 12
BRISTOL FOLK HOUSE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2024 5 Taxation The charity is exempt from corporation tax on its charitable activities. 6 Net incomellexpenditure) for the year 2024 2023 This is stated after charging: Independenl examinerfs fees.. Independent examination Accounts preparation Prior year 894 1,092 180 8,107 1,200 Depreciation 9,032 7 Staff costs and numbers 2024 2023 The aggregate payroll costs were.. Wages & salaries Social security costs Pension contributions 197,899 12,953 3,546 179,489 12,025 3,229 214,398 194,743 No employee earned over £60,000 either in the current, or preceding year. The average weekly number of employees during the year was 14 {2023'. 141, calculated on the basis of average headcount. In the CLJrrent year the trustees considered themselves and the Head of Operations, Programme Manager and Finance Officer to be the key management personnel. Total employment benefits received by key management personnel were £ 111.89212023.. £94,058). 13
BRISTOL FOLK HOUSE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2024 8 Statement of Financial Activities comparative figures For the year ended 31 August 2023 Unrgstricted Rgstrictgd Total Funds Funds Funds 2023 Income from: Donations and legacies Charitable activities Investments 6,342 669,814 579 2,800 9,142 669,814 579 Total income 676,735 2,800 679,535 Expenditure on: Raising funds Charitable activities 498 589,852 498 592.600 2,748 Total expenditure 590,350 2,748 593,098 Net incomel(expenditure) 86,385 52 86,437 Transfers between funds Net movement in funds 86,385 52 86,437 Total funds at start of year Total funds at end of year 213,572 213,572 299,957 52 300,009 14
BRISTOL FOLK HOUSE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2024 9 Tangible fixed assets Plant and Machinery Property Improvements Fixtures and fittings Office equipment Total Cost or valuation At 1 September 2023 Additions 2,066 176 135,330 7,287 3,131 3,212 2,831 1,232 143,358 11,907 At 31 August 2024 2,242 142,617 6,343 4,063 155,265 Depreciation At 1 September 2023 Charge for the year At 31 August 2024 826 449 6,610 6,610 1,133 1,268 1,118 705 9,687 9,032 1,275 13,220 2,401 1,823 18,719 Net book value At 31 August 2024 At 31 August 2023 967 129,397 3,942 2,240 136,546 1,240 128,720 1,998 1,713 133,671 10 Flxed asset Investments 2024 2023 Investment in Bristol Folk House Trading Ltd Bristol Folk House Trading Limited {Company No. 125137341 is a wholly owned subsidiary of Bristol Folk House, a company limited by guarantee (Company No. 117520841. A summary of the trading results for the subsidiary for the current year is shown below. The subsidiary company provides catering services. 31 August 2024 31 August 2023 Turnover Cost of sales 225,615 {167,6391 57,976 189,944 1150,605} 39,339 Gross profil Adminislralive expenses Profil on ordinary activities before taxation 140,222) 144,0341 14,6951 17,754 Shareholder's funds brought forward Profit for the period Dividends paid Shareholder's funds carried foNard 14,1091 17,754 682 14,6951 1961 4,109 13,645 15
BRISTOL FOLK HOUSE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2024 11 Debtors 2024 2023 Due inlgss than one year: Trade debtors Amounts owed by Bristol Folk House Trading Ltd Prepayments and accrued income 3,914 5,295 4,963 11,917 24,166 28,080 22,175 12 Creditors: amounts falling dug Within on9 ygar 2024 2023 Trade creditors Social security and other taxes Accruals and deferred income Other creditors 6,341 2,284 179,622 29,508 217,755 6,987 2,603 182,626 23,293 215,509 Movement in deferred income 2024 2023 Deferred income balance at 1 September 172,930 159,055 Income released Course fees for autumn term {172,9301 174,751 1159,055} 172,930 Total amount deferred as at 31 August 174,751 172,930 13 Reconciliation of net movement in funds to net cash inflow from operating activities 2024 2023 Statement of Financial Activities.. Nel movement in funds 133,066 86,437 Depreciation Investment income IDecrease)lincrease in creditors.. current liabilities Decrease I lincrease} in debtors 9,032 16,5781 2,246 15,9051 8,107 15791 21,641 19,6641 Net cash inflowlloutnowl from operating activities 131,861 105,942 16
BRISTOL FOLK HOUSE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2024 14 Analysis of Changes in cash during the y•ar 2024 2023 Change Cash at bank and in hand 486,203 359,671 126,532 2023 2022 Change Cash at bank and in hand 359,671 335,590 24,081 15 Movement in funds Forthe year ended 31 August 2024 At1Sep 2023 At 31 Aug 2024 Income Expenditure Transfers Restricted funds Community Outdoor Space fund 52 1311 31 21 52 21 Unrestricted funds General funds Designated funds Contingency fund 224,957 749.880 1616,7831 358,054 75,000 75,000 299,957 749,860 616,783 433,054 Total funds 300,009 749,880 616,814 433,075 Designated fund Contingency fund - the trustees set aside funds towards closedown expenses if required. Restricted funds Community Outdoor space fund - funds received to promote biodiversity. The funds were used to build a pond in the charitls garden. 17
BRISTOL FOLK HOUSE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2024 15 Movement in funds (continued) Forthe year ended 31 August 2023 At1Sep 2022 At 31 Aug 2023 Income Expenditure Transfers Restricted funds Community Outdoor Space funi 2.800 12,7481 2,748 52 2,800 52 Unrestrlcted funds General funds Designated funds Contingency fund 213,572 676,735 1590,3501 (75,000) 224,957 75.000 75,000 213,572 676,735 590,350 299,957 Total funds 213,572 679,535 593,098 300,009 16 Analysis of net assets between funds Unrestricted funds Designated General funds funds Restricted funds As at 31 August 2024 Total Fixed assets Other net assets 136,547 221,507 136,547 296,528 75,000 21 75,000 358,054 21 433,075 Unrestricted funds Designated General funds funds Restricted funds As at 31 August 2023 Total Fixed assets Other net assets 133,672 91,285 133,672 166,337 75,000 52 75,000 224,957 52 300,009 17 Trustee remuneration & expenses No remuneration or other benefits from employment were received by the Trustees or other related parties. No expenses were claimed in the year by Trustees. 18
BRISTOL FOLK HOUSE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2024 18 Related party transactions Bristol Folk House Trading Ltd The balance of nil in debtors for 2024 {2023.. £4,963) related to a repayment of a balance owed by the Bristol Folk House Trading Company Ltd which consisted of income received in the Company on behalf of the charity. There are no other transactions with trustees or other related parties other than those disclosed above and as required by the SORP elsewhere in the financial slalements. 19