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2025-08-31-accounts

FINANCIAL STATEMENTS FOR THE YEAR ENDED

31 AUGUST 2025

Company Registration Number 11752084 Charity Number 1184395

BRISTOL FOLK HOUSE

FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2025

Contents Pages
Trustees’ Annual Report 1 to 8
Reference & Administrative Information 9
Independent Auditor’s Report 10 to 13
Consolidated Statement of Financial Activities 14
Charity Statement of Financial Activities 15
Charity and Consolidated Balance sheet 16
Consolidated Statement of Cash Flows 17
Notes to the financial statements 18 to 28

BRISTOL FOLK HOUSE

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 AUGUST 2025

The Trustees present their report and financial statements for the year ended 31 August 2025.

Chair’s introduction

This year has been one of continued growth and development for Bristol Folk House. Having emerged from the challenges of recent years, we are now firmly delivering against our long-term strategy. The 2024/25 reporting year saw further progress in accessibility, community engagement, cultural programming, and organisational resilience. We are proud of the way the Folk House continues to thrive as a hub for learning, creativity and connection in Bristol – a place where people of all backgrounds come together to learn new skills, build confidence and find community.

Beyond our core business, our achievements have included:

We are proud of the way the Folk House continues to thrive as a hub for learning, creativity, and community in Bristol.

Objectives and Activities

In October 2022, we published our first formal strategy, which remains the framework for our objectives. These continue to be guided by our charitable purpose:

Our charitable objective

To improve the conditions of life of the inhabitants of Bristol and surrounding districts by the provision and maintenance of a centre for adult education, recreation and other leisure time occupations.

Our vision

Engaging Bristol: to learn, make, create, appreciate

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BRISTOL FOLK HOUSE

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 AUGUST 2025

Our mission

To be stimulating, engaging and inclusive through:

Our strategic themes

Bristol Folk House provides a welcoming, inclusive environment where adults can learn, make and create. Through arts, crafts and cultural learning we help people build confidence, develop new skills and connect with others, enriching both individual wellbeing and community life.

We pursue these aims through the following strategies:

Success is assessed using a combination of quantitative and qualitative measures, including:

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BRISTOL FOLK HOUSE

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 AUGUST 2025

Public benefit

The trustees confirm that, in planning and delivering all activities, they have had due regard to the Charity Commission’s guidance on public benefit. Our charitable purpose is to improve the conditions of life for people in Bristol and surrounding districts by providing and maintaining a centre for adult education, recreation and cultural activity. Public benefit is delivered through a wide range of affordable courses, workshops and events, complemented by community partnerships and the use of our café and facilities. Our activities are open to all and aim to reduce barriers to participation – whether financial, physical or social.

Achievements, Performance and Challenges

During 2024/25 Bristol Folk House delivered a wide range of charitable and trading activities in pursuit of its objectives: providing opportunities for lifelong learning, fostering creativity, and building community through arts and education.

Significant charitable activities

Achievements against objectives

The trustees set key objectives for 2024/25, which were largely met or exceeded:

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BRISTOL FOLK HOUSE

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 AUGUST 2025

Performance of fundraising and trading activities

Fundraising activity during the year focused on small grants and donations for capital improvements and community access initiatives. Grant income of approximately £20,000 was received, meeting targets set for the year. No large-scale public fundraising took place, but efforts to cultivate longerterm funding relationships are ongoing. Trading activities are managed through Bristol Folk House Trading Ltd. The café achieved good sales following refurbishment and menu development. Room hire income remained strong due to more efficient space management.

Expenditure to raise future income

During the year the charity invested £230,000+ in capital improvements, including accessibility works, café refurbishment and equipment upgrades. Although these costs reduced short-term surplus, they are expected to strengthen future income by increasing visitor numbers, improving energy efficiency, and supporting grant eligibility for subsequent phases of development.

Challenges and learning

Economic pressures, including inflation, staffing and energy costs, continued to affect both operational spending and customer behaviour. Staffing capacity remained a limiting factor in fundraising and communications. Nonetheless, high retention of tutors and staff ensured programme quality remained strong. Looking ahead, the trustees are focused on broadening income streams, completing the accessibility works, expanding community outreach, and further embedding inclusion across all aspects of delivery.

Financial Review

Over 90% of the charity’s income is from charitable activities, primarily from course enrolment fees. Which directly relates to our main aim of enhancing the lives of the inhabitants of Bristol and surrounding districts by the provision and maintenance of a centre for adult education. The more beneficial adult education delivered, the greater the income.

The Folk House has completed a large capital project this year which constitutes phase two of the accessibility project. An extension of the office space was mainly self-funded, at a total cost of approximately £220,000. We were successful in obtaining £20,000 from the Van Neste Foundation as a contribution to the costs. Before we commence the next phase/s we require a significant

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BRISTOL FOLK HOUSE

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 AUGUST 2025

fundraising effort, with the costs to complete the rest of the project currently at £750,000. To assist us in this goal we have employed a professional fundraiser who has produced a fundraising strategy and is actively seeking funding.

The cafe - Bristol Folk House Trading Ltd - is an integral part of the offering at the Folk House, providing refreshments and food to our students and the public. It also provides a venue for clubs to meet, book launches, weddings and small gigs. Turnover has increased on the previous year to £230,504 but only up by 2%. A more challenging year with costs increasing significantly. Cost of sales, including staffing up by 12% to £188k from £168k in 2023/4. Other expenses including the recalculated rent/management recharge up by 25% on the previous year, £40k in 2023/24 to £50k in 24/25. We are not immune to the cost pressures facing all hospitality venues, particularly hard-felt was the NI employers rise in April 2025 and the increasing cost of raw ingredients. The Trading subsidiary made an operating loss of £7,945 for the year (2024: surplus £17,754).

Summary 2024/25 Financial Review

Income is derived from three main sources: course and event income generated through the Folk House’s programme; trading income from the Folk House Café (operated by Bristol Folk House Trading Ltd, our wholly owned subsidiary); and donations, grants and other voluntary income. Overall, income has remained strong, reflecting continued demand for our courses and events, and careful management of costs.

The trustees are satisfied that the financial position of the charity remains sound and that there are adequate resources to meet ongoing commitments and planned investment. The charity’s assets consist primarily of the Folk House building and associated equipment, with liquid reserves held as cash and deposits. Surplus cash balances are held in interest-bearing accounts to maximise return while ensuring capital security and liquidity. Trustees review investment options annually in line with the charity’s ethical and environmental principles. The Bristol Folk House café operates through a wholly owned trading subsidiary, Bristol Folk House Trading Ltd, which manages the café and related commercial activities. All profits are covenanted to the charity and consolidated accounts are prepared for the group.

Principal funding sources and significant events

The principal sources of income for the charity are course and workshop fees, café trading profits from Bristol Folk House Trading Ltd, room hire, and grants and donations received for specific projects. Each of these income streams directly supports the charity’s aims by funding the provision of

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BRISTOL FOLK HOUSE

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 AUGUST 2025

accessible adult education, cultural events and community facilities. Significant events influencing financial performance during the year included the Accessibility Project improvement works, a new lighting rig in the hall, and continued strong programme income. Capital expenditure reduced the operating surplus, but these investments are expected to enhance income generation, sustainability and community access in future years.

Reserves policy and position

At 31 August 2025, the charity held total funds of £2,164,434 comprising: designated funds of £100,000; and unrestricted free reserves £120,962. Designated funds are amounts set aside by trustees for particular purposes. Expenditure from these funds is planned over the next two to three years in line with the charity’s strategic and capital plans. The charity also holds functional fixed assets in the form of the Folk House building (freehold) and associated equipment valued at £1,943,472. These assets are essential to delivering our charitable objectives and could only be realised by disposal, which the trustees do not consider appropriate. The trustees’ policy is to maintain free reserves equivalent to three months of unrestricted expenditure, currently estimated at £55,000 together with maintenance fund of £45,000 as reserves in case of unforeseen events. The trustees regularly review the reserves position and believe it remains appropriate for the size, activities and risk profile of the charity.

Principal risks and uncertainties

The trustees maintain a risk register reviewed every quarter by the Operations Committee and annually by the full Board. Risks are assessed according to likelihood and potential impact, with controls and mitigating actions documented and monitored. Principal risks include financial sustainability, cost inflation, building and facilities maintenance, health and safety, staffing and succession, and information security. Mitigations include diversification of income, designated reserves, compliance procedures, and staff training. Looking ahead, economic uncertainty, shifts in adult learning demand and rising maintenance costs are expected to be the main factors affecting financial performance. Trustees will continue to monitor these while seeking opportunities to strengthen unrestricted income and resilience.

Fundraising statement

The charity does not engage in large-scale public fundraising or use professional fundraising agencies. Fundraising activity is limited to donations, grant applications and small-scale community events. All fundraising is carried out by staff or trustees and complies with the Fundraising Regulator’s Code of Fundraising Practice. No fundraising complaints were received during the year. Trustees take seriously their responsibility to protect the public, including vulnerable people, from unreasonable intrusion or undue pressure when fundraising.

Going concern

The trustees have reviewed forecasts for the 12 months following approval of these financial statements. Based on current income projections, reserves and cash flow, the trustees are confident that Bristol Folk House and its subsidiary have adequate resources to continue operating for the foreseeable future. The financial statements have therefore been prepared on a going concern basis.

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BRISTOL FOLK HOUSE

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 AUGUST 2025

Structure, Governance and Management

Bristol Folk House is a charitable company limited by guarantee, incorporated in England and Wales (company number 11752084) and registered with the Charity Commission (charity number 1184395). It is governed by its Memorandum and Articles of Association adopted on 7[th] January 2019. The charity has one wholly owned subsidiary, Bristol Folk House Trading Ltd, which operates the Folk House Café and related commercial activities. Profits from the subsidiary are donated to the charity. Consolidated accounts are prepared for the group. Overall responsibility rests with the Board of Trustees, which meets at least six times a year. The Board sets strategy, approves budgets, oversees compliance and risk management, and monitors performance. Day-to-day management is delegated to the Head of Operations supported by the monthly Operations Meeting with at least one Trustee in attendance. Trustees are recruited through open advertisement and networks to ensure diverse skills. New trustees receive induction covering the charity’s structure, policies and strategic plans, and ongoing training is offered. Pay and conditions for key management personnel are reviewed annually. Trustees receive no remuneration but may claim expenses. The charity maintains partnerships with local arts, education and community organisations. All related-party transactions are at arm’s length and comply with conflict-of-interest policies.

Plans for future periods

Strategic priorities for 2025/26 and beyond include:

  1. Deepening community engagement and representation through new partnerships and outreach.

  2. Completing the next phase of the Accessibility Project and embedding inclusive practice.

  3. Expanding fundraising capacity through individual giving, grants and partnerships.

  4. Upgrading digital systems and online accessibility.

  5. Supporting staff and tutor development.

These plans directly support the charity’s vision to be a welcoming, creative space for adults to learn, make and connect in Bristol.

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BRISTOL FOLK HOUSE

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 AUGUST 2025

Statement of trustees’ responsibilities

The trustees (who are also directors of Bristol Folk House for the purposes of company law) are responsible for preparing the Trustees’ Report (incorporating the strategic report and directors’ report) and the financial statements in accordance 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 (United Kingdom Accepted Accounting Practice).

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 the group and of the income and expenditure, of the charitable group for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

Approval of Accounts

18 March 2026

The accounts were approved on behalf of the Trustees on ……………..………….by:

Matthew Bazeley-Bell Chair of the Board of Trustees

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BRISTOL FOLK HOUSE

REFERENCE & ADMINISTRATIVE INFORMATION

YEAR ENDED 31 AUGUST 2025

Company number

11752084

Charity number

1184395

Trustees

The Trustees (who are directors for the purpose of company law) who have served during the year and since the year end were as follows:

Ariana Ahmadi Matthew Bazeley-Bell (Chair) Richard Bretton Graham Knight (Minute Secretary) Margueritte Knight (Vice Chair) Robert Pepper Isabelle Ryan (Treasurer) Julie Williams Rachel Williams (Nee Jeffrey)

(Resigned 17 September 2025)

(Resigned 15 October 2025) (Resigned 20 November 2024) (Resigned 1 July 2025)

Key Management Personnel

Anna Naylor (Chief Executive Officer) Alison Rawling (Finance Manager) Alice Nava (Programme Manager)

Registered Office

40a Park Street Bristol. United Kingdom BS1 5JG

Independent Auditor

Burton Sweet Limited The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR

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BRISTOL FOLK HOUSE

INDEPENDENT AUDITOR’S REPORT

YEAR ENDED 31 AUGUST 2025

Independent auditor’s report to the members of Bristol Folk House

Opinion

We have audited the financial statements of Bristol Folk House (the “Charity and the Group”) for the year ended 31 August 2025 which comprise the Group and Charity Statement of Financial Activities, the Group and Charity Balance Sheet, the Consolidated Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with international Standards in Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the Group and Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group and charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to

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BRISTOL FOLK HOUSE

INDEPENDENT AUDITOR’S REPORT

YEAR ENDED 31 AUGUST 2025

the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If based, on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report the fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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BRISTOL FOLK HOUSE

INDEPENDENT AUDITOR’S REPORT

YEAR ENDED 31 AUGUST 2025

In preparing the financial statements, the trustees are responsible for assessing the Group and Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Group and Charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

Our audit procedures in relation to fraud included but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify noncompliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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BRISTOL FOLK HOUSE

INDEPENDENT AUDITOR’S REPORT

YEAR ENDED 31 AUGUST 2025

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditors/audit-assurance-ethics/auditorsresponsibilities-for-the-audit. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the Charity’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charity’s members those matters we are required to state in them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Joshua Kingston ACA (Senior Statutory Auditor) For and on behalf of Burton Sweet Limited Statutory Auditor The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Apr 02 2026 Bristol BS48 1UR Date: …………………..

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BRISTOL FOLK HOUSE

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME & EXPENDITURE ACCOUNT) YEAR ENDED 31 AUGUST 2025

Note
Income from:
Donations and grants
2
Charitable activities
3
Other trading activities
4
Investments
Total income
Expenditure on:
Raising funds
5
Charitable activities
6
Total expenditure
Net income/(expenditure)
8
Transfers between funds
17
Net movement in funds
Prior year adjustment
22
17
Total funds at end of year
17
Total funds at start of year (as previously
stated)
Total funds at start of year (restated)		 Unrestricted
Funds
£
3,588
764,303
230,504
7,395
1,005,790
216,645
691,410
908,055
97,735
20,000
117,735
446,699
1,600,000
2,046,699
2,164,434		 Restricted
Funds
£
20,000
-
-
-
20,000
-
21
21
19,979
(20,000)
(21)
21
-
21
-		 Total Funds
2025
£
23,588
764,303
230,504
7,395
1,025,790
216,645
691,431
908,076
117,714
-
117,714
446,720
1,600,000
2,046,720
2,164,434		 Total Funds
2024
£
5,839
717,463
225,615
6,578
955,495
189,809
614,866
804,675
150,820
-
150,820
295,900
1,600,000
1,895,900
2,046,720

The Group has no recognised gains or losses other than the results for the year as set out above.

All of the activities of the Group are classed as continuing.

The comparative Statement of Financial Activities can be found in note 10.

The notes on pages 18 to 28 form part of these financial statements

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BRISTOL FOLK HOUSE

THE CHARITY'S STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME & EXPENDITURE ACCOUNT YEAR ENDED 31 AUGUST 2025

Note
Income from:
Donations and grants
2
Charitable activities
3
Other trading activities
4
Investments
Total income
Expenditure on:
Raising funds
5
Charitable activities
6
Total expenditure
Net income/(expenditure)
8
Transfers between funds
17
Net movement in funds
Prior year adjustment
22
17
Total funds at end of year
17
Total funds at start of year (as previously
stated)
Total funds at start of year (restated)		 Unrestricted
Funds
£
12,784
764,303
27,910
7,395
812,392
6,106
691,410
697,516
114,876
20,000
134,876
433,054
1,600,000
2,033,054
2,167,930		 Restricted
Funds
£
20,000
-
-
-
20,000
-
21
21
19,979
(20,000)
(21)
21
-
21
-		 Total Funds
2025
£
32,784
764,303
27,910
7,395
832,392
6,106
691,431
697,537
134,855
-
134,855
433,075
1,600,000
2,033,075
2,167,930		 Total Funds
2024
£
5,839
717,463
20,000
6,578
749,880
1,948
614,866
616,814
133,066
-
133,066
300,009
1,600,000
1,900,009
2,033,075

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 10.

The notes on pages 18 to 28 form part of these financial statements

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BRISTOL FOLK HOUSE

BALANCE SHEET

----- Start of picture text -----
AS AT 31 AUGUST 2025 Company number: 11752084
Group Charity Group Charity
2025 2025 2024 2024
Note £ £ £ £
Fixed assets
Tangible assets 11 1,949,812 1,943,472 1,740,836 1,736,546
Investments 12 - 1 - 1
1,949,812 1,943,473 1,740,836 1,736,547
Current assets
Debtors 13 36,007 49,842 28,121 28,080
Stock 3,565 - 3,910 -
Cash at bank and in hand 485,472 472,896 509,058 486,203
525,044 522,738 541,089 514,283
Liabilities
Creditors : Amounts falling
due within one year 14 (310,422) (298,281) (235,205) (217,755)
Net current assets 214,622 224,457 305,884 296,528
Total assets less current liabilities 2,164,434 2,167,930 2,046,720 2,033,075
Net assets 2,164,434 2,167,930 2,046,720 2,033,075
Funds
Unrestricted funds 18 2,164,434 2,167,930 2,046,699 2,033,054
Restricted funds 18 - - 21 21
Total funds 2,164,434 2,167,930 2,046,720 2,033,075
----- End of picture text -----

Trustees responsibilities:

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 regime and in accordance with FRS102 SORP.

These financial statements were approved by the Trustees on….............................. and are signed on their behalf by:18 March 2026

…............................................... Matthew Bazeley-Bell Chair of Trustees

The notes on pages 18 to 28 form part of these financial statements

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BRISTOL FOLK HOUSE

CONSOLIDATED STATEMENT OF CASH FLOWS

YEAR ENDED 31 AUGUST 2025

Note
Net cash inflow from operating activities
15
Non-operational cash flows:
Investing activities
Payments for tangible fixed assets
Interest received on investments
Net cash inflow/(outflow) for the year
16		 2025
£
200,806
(231,787)
7,395
(224,392)
(23,586)		 2024
£
152,264
(17,003)
6,578
(10,425)
141,839

Cashflow Restrictions

Charity law prohibits the use of net cash inflows on any endowed or other restricted fund to offset net cash outflows 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 18 to 28 form part of these financial statements

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BRISTOL FOLK HOUSE NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2025

1 Accounting policies

Accounting convention

The financial statements have been prepared in accordance with the historical cost convention (except where otherwise stated in the accounting policy note) and in accordance with the Statement 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 (FRS 102) issued in October 2019, and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), and the Companies Act 2006.

The charity is a public benefit entity as defined under FRS102. The Trustees consider that there are no material uncertainties affecting the ability of the Group to continue as a going concern. The Trustees' have considered the national cost of living crisis and their effect on the Group and the wider economy when assessing going concern.

Basis of consolidation

The Consolidated Statement of Financial Activities (SOFA), Consolidated Balance Sheet and Consolidated Cash Flow Statement consolidate the financial statements of the Charity and its subsidiary, Bristol Folk House Trading Limited. The results of the subsidiary are consolidated on a line by line basis.

Income

Income from donations is included in income when these are receivable, except as follows:

I. When donors specify that donations given to the charity must be used in future accounting periods, the income is deferred until those periods;

II. When donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred until the pre-conditions have been met.

Income from the supply of goods and services is recognised with the delivery of the good and/or service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Investment income is included on a receivable basis.

Expenditure

Expenditure is recognised in the period in which it is incurred. Expenditure includes attributable 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

Expenditure on charitable activities comprises those costs incurred by the Charity in the delivery of its activities and services. It included both costs that can be allocated directly to this activity and those costs of an indirect nature necessary to support them.

Support costs and other costs that cannot be directly attributed to activities are allocated on a basis consistent with the use of the resource.

Governance costs

Governance costs include those costs associated with meeting the constitutional 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 trustees.

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 unrestricted funds and have been identified as being for particular purposes by the Trustees. They are not restricted and can be transferred to general funds at any time at the discretion of the Trustees.

Investments

Investments are stated at market value at the balance sheet date. The Statement of Financial Activities includes the net gains and losses arising on revaluations and disposals throughout the year. Investments in subsidiaries are valued at cost less provision for impairment.

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BRISTOL FOLK HOUSE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2025

1 Accounting policies (continued)

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation, which is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives. Capital purchases of £1,000 or greater are capitalised.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

----- Start of picture text -----
||| |---|---| |Freehold land and buildings|-50 years straight line, except land| |Plant and Machinery|-5 years straight line| |Fixtures and fittings|-5 years straight line| |Office equipment|-5 years straight line| |Building improvements|-20 years straight line|

----- End of picture text -----

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Stock

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Creditors and provisions

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 allowing for any trade discounts due.

2 Income from: Donations and grants

----- Start of picture text -----
|||||| |---|---|---|---|---| |Group & Charity|Unrestricted|Restricted|Total Funds|Total Funds| |Funds|Funds|2025|2024| |£|£|£|£| |Donations|12,784|-|12,784|5,839| |Grants received|-|20,000|20,000|-| |Total Charity|12,784|20,000|32,784|5,839| |-|-| |Inter-group activity|(9,196)|(9,196)| |Total Group|3,588|20,000|23,588|5,839|

----- End of picture text -----

All income from donations and grants in the prior year was for unrestricted funds.

19

BRISTOL FOLK HOUSE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2025

3
Income from: Charitable activities
Course fees and cancellation fees
Events
Room hire
Membership
Miscellaneous sales
Total Charity & Group		 Unrestricted
Funds
£
703,156
35,071
19,951
5,400
725
764,303		 Restricted
Funds
£
-
-
-
-
-
-		 Total Funds
2025
£
703,156
35,071
19,951
5,400
725
764,303		 Total Funds
2024
£
639,570
42,980
28,345
5,910
658
717,463

All income from charitable activities in the prior year was for unrestricted funds.

4 Income from: Other trading activities

Management recharge - Bristol Folk House Trading Ltd
Total Charity
Bristol Folk House Trading Ltd - Café sales
Inter-group activity
Total Group		 Unrestricted
Funds
£
27,910
27,910
230,504
(27,910)
230,504		 Restricted
Funds
£
-
-
-
-
-		 Total Funds
2025
£
27,910
27,910
230,504
(27,910)
230,504		 Total Funds
2024
£
20,000
20,000
225,615
(20,000)
225,615

All income from other trading activities in the prior year was for unrestricted funds.

5 Expenditure on: Raising funds

Current year
Fundraising
Total Charity
Bristol Folk House Trading Ltd - Café expenditure
Inter-group activity
Total Group
Prior year
Fundraising
Total Charity
Bristol Folk House Trading Ltd - Café expenditure
Inter-group activity
Total Group		 Direct
Costs
£
3,184
3,184
238,449
(27,910)
213,723
Direct
Costs
£
1,040
1,040
207,861
(20,000)
188,901		 Support
Costs
(Note 7)
£
2,922
2,922
-
-
2,922
Support
Costs
(Note 7)
£
908
908
-
-
908		 Total
2025
£
6,106
6,106
238,449
(27,910)
216,645
Total funds
2024
£
1,948
1,948
207,861
(20,000)
189,809

20

BRISTOL FOLK HOUSE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2025

6 Expenditure on: Charitable activities

Current year
Courses and workshops
Live music and events
Total Charity & Group
Prior year
Courses and workshops
Live music and events
Total Charity & Group
7
Support costs
Current year
Staff costs
Office costs
Premises costs
Professional costs
Finance costs
Governance costs
Prior year
Staff costs
Office costs
Premises costs
Professional costs
Finance costs
Governance costs		 Staff
Costs
£
105,923
-
105,923
Staff
Costs
£
100,185
-
100,185		 Direct
Costs
£
293,914
11,427
305,341
Direct
Costs
£
264,634
10,089
274,723
Raising
Funds
£
1,284
397
929
49
129
134
2,922
Raising
Funds
£
389
161
293
5
52
8
908		 Support
Costs
(Note 7)
£
280,167
-
280,167
Support
Costs
(Note 7)
£
239,958
-
239,958
Charitable
Activities
£
123,090
38,072
89,055
4,732
12,332
12,886
280,167
Charitable
Activities
£
102,703
42,629
77,345
1,394
13,711
2,176
239,958		 Total
2025
£
680,004
11,427
691,431
Total
2024
£
604,777
10,089
614,866
Total
2025
£
124,374
38,469
89,984
4,781
12,461
13,020
283,089
Total
2024
£
103,092
42,790
77,638
1,399
13,763
2,184
240,866

21

BRISTOL FOLK HOUSE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2025

7 Taxation

The charity is exempt from corporation tax on its charitable activities.

8 Net income/(expenditure) for the year

This is stated after charging:
Independent examiner's fees:
Independent examination
Accounts preparation
Auditor's remuneration:
Audit fees
Accounts preparation
Other services
Depreciation
Staff costs and numbers
The aggregate payroll costs were:
Wages & salaries
Social security costs
Pension contributions		 2025
£
-
-
13,020
4,920
360
22,811
2025
£
329,987
25,915
5,692
361,594		 2024
£
984
3,180
-
-
-
10,158
2024
£
300,589
18,379
5,008
323,976

9 Staff costs and numbers

No employee earned over £60,000 either in the current, or preceding year.

The average weekly number of employees during the year was 27 (2024: 27), calculated on the basis of average headcount.

In the current 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 £106,950 (2024: £111,892).

22

BRISTOL FOLK HOUSE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2025

10 Statement of Financial Activities comparative figures

Group
For the year ended 31 August 2024
Income from:
Donations and legacies
Charitable activities
Other trading activities
Investments
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net income/(expenditure) and
net movement in funds
Total funds at start of year
Total funds at end of year
Charity
For the year ended 31 August 2024
Income from:
Donations and legacies
Charitable activities
Other trading activities
Investments
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net income/(expenditure) and
net movement in funds
Total funds at start of year
Total funds at end of year		 Unrestricted
Funds
£
(Restated)
5,839
717,463
225,615
6,578
955,495
189,809
614,835
804,644
150,851
1,895,848
2,046,699
Unrestricted
Funds
£
(Restated)
5,839
717,463
20,000
6,578
749,880
1,948
614,835
616,783
133,097
1,899,957
2,033,054		 Restricted
Funds
£
-
-
-
-
-
-
31
31
(31)
52
21
Restricted
Funds
£
-
-
-
-
-
-
31
31
(31)
52
21		 Total Funds
2024
£
(Restated)
5,839
717,463
225,615
6,578
955,495
189,809
614,866
804,675
150,820
1,895,900
2,046,720
Total Funds
2024
£
(Restated)
5,839
717,463
20,000
6,578
749,880
1,948
614,866
616,814
133,066
1,900,009
2,033,075

23

BRISTOL FOLK HOUSE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2025

11 Tangible fixed assets

Group
Cost or valuation
At 1 September 2024
Additions
At 31 August 2025
Depreciation
At 1 September 2024
Charge for the year
At 31 August 2025
Net book value
At 31 August 2025
At 31 August 2024
Charity
Cost or valuation
At 1 September 2024
Additions
At 31 August 2025
Depreciation
At 1 September 2024
Charge for the year
At 31 August 2025
Net book value
At 31 August 2025
At 31 August 2024		 Freehold land
and buildings
£
1,600,000
-
1,600,000
-
-
-
1,600,000
1,600,000
Freehold land
and buildings
£
1,600,000
-
1,600,000
-
-
-
1,600,000
1,600,000		 Plant and
Machinery
£
6,751
15,770
22,521
2,177
4,009
6,186
16,335
4,574
Plant and
Machinery
£
2,242
15,112
17,354
1,275
2,976
4,251
13,103
967		 Property
Improvements
£
142,617
209,879
352,496
13,220
15,125
28,345
324,151
129,397
Property
Improvements
£
142,617
209,879
352,496
13,220
15,125
28,345
324,151
129,397		 Fixtures and
fittings
£
6,343
4,911
11,254
2,401
2,144
4,545
6,709
3,942
Fixtures and
fittings
£
6,343
1,987
8,330
2,401
1,666
4,067
4,263
3,942		 Office
equipment
£
5,183
1,227
6,410
2,260
1,533
3,793
2,617
2,923
Office
equipment
£
4,063
973
5,036
1,823
1,258
3,081
1,955
2,240		 Total
£
1,760,894
231,787
1,992,681
20,058
22,811
42,869
1,949,812
1,740,836
Total
£
1,755,265
227,951
1,983,216
18,719
21,025
39,744
1,943,472
1,736,546

24

BRISTOL FOLK HOUSE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2025

12 Fixed asset investments

Investment in Bristol Folk House Trading Ltd

----- Start of picture text -----
||| |---|---| |2025|2024| |£|£| |1|1|

----- End of picture text -----

Bristol Folk House Trading Ltd (Company No. 12513734) is a wholly owned subsidiary of Bristol Folk House, a company limited by guarantee (Company No. 11752084). A summary of the trading results for the subsidiary for the current year is shown below. The subsidiary company provides catering services.

----- Start of picture text -----
|||| |---|---|---| |31 August|31 August| |2025|2024| |£|£| |Turnover|230,504|225,615| |Cost of sales|(188,303)|(167,639)| |Gross profit|42,201|57,976| |Administrative expenses|(50,146)|(40,222)| |Profit on ordinary activities before taxation|(7,945)|17,754| |Shareholder's funds brought forward|13,645|(4,109)| |Profit for the period|(7,945)|17,754| |-| |Dividends paid|(9,196)| |Shareholder's funds carried forward|(3,496)|13,645|

----- End of picture text -----

In the year, the charity charged the subsidiary £27,910 (2024: £20,000) as a management fee covering rent, staff time and recharges. A donation of £9,196 (2024: nil) was made from the subsidiary to the parent charity. The amount owed to the parent charity was £13,910 (2024: £nil) at the year end.

13 Debtors

----- Start of picture text -----
|||||| |---|---|---|---|---| |Group|Charity| |2025|2024|2025|2024| |£|£|£|£| |Due in less than one year:| |Trade debtors|2,372|3,955|2,297|3,914| |Prepayments and accrued income|33,635|24,166|33,635|24,166| |Amounts due from group undertakings|-|-|13,910|-| |36,007|28,121|49,842|28,080| |Creditors: amounts falling due within one year| |Group|Charity| |2025|2024|2025|2024| |£|£|£|£| |Trade creditors|10,079|11,277|9,697|6,341| |Social security and other taxes|11,576|10,968|2,772|2,284| |Accruals and deferred income|255,782|183,203|253,240|179,622| |Other creditors|32,985|29,757|32,572|29,508| |310,422|235,205|298,281|217,755| |Movement in deferred income| |Group|Charity| |2025|2024|2025|2024| |£|£|£|£| |Deferred income balance at 1 September|176,072|172,930|174,751|172,930| |Income released|(176,072)|(172,930)|(174,751)|(172,930)| |Course fees for autumn term|211,613|176,072|211,471|174,751| |Total amount deferred as at 31 August|211,613|176,072|211,471|174,751|

----- End of picture text -----

14 Creditors: amounts falling due within one year

25

BRISTOL FOLK HOUSE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2025

15 Reconciliation of net movement in funds to net cash inflow from operating activities

Statement of Financial Activities: Net movement in funds
Depreciation
Investment income
(Decrease)/increase in creditors: current liabilities
Decrease / (increase) in debtors
Decrease / (increase) in stock
Net cash inflow/(outflow) from operating activities
16 Analysis of changes in cash during the year
Cash at bank and in hand
Cash at bank and in hand
17 Movement in funds
For the year ended 31 August 2025
At 1 Sep
2024
£
Restricted funds
Community Outdoor Space fund
21
Accessibility Project
-
21
Unrestricted funds
General funds
1,958,054
Designated funds
Contingency fund
75,000
Fixed Asset fund
-
2,033,054
Total funds Charity
2,033,075
Bristol Folk House Trading Limited
13,645
Inter-entity transactions
-
13,645
Total funds Groups
2,046,720		 Income
£
-
20,000
20,000
812,392
-
-
812,392
832,392
230,504
(37,106)
193,398
1,025,790		 2025
£
117,714
22,811
(7,395)
75,217
(7,886)
345
200,806
2025
£
485,472
2024
£
509,058
Expenditure
£
(21)
-
(21)
(697,516)
-
-
(697,516)
(697,537)
(238,449)
27,910
(210,539)
(908,076)		 2024
£
509,058
2023
£
367,219
Transfers
£
-
(20,000)
(20,000)
(1,948,472)
25,000
1,943,472
20,000
-
(9,196)
9,196
-
-		 2024
£
150,820
10,158
(6,578)
5,391
(5,214)
(2,313)
152,264
Change
£
(23,586)
Change
£
141,839
At 31 Aug
2025
£
-
-
-
124,458
100,000
1,943,472
2,167,930
2,167,930
(3,496)
-
(3,496)
2,164,434

26

YEAR ENDED 31 AUGUST 2025

BRISTOL FOLK HOUSE

NOTES TO THE FINANCIAL STATEMENTS

17 Movement in funds (continued)

Designated fund

Contingency fund - the trustees set aside funds towards closedown expenses if required. A further £25,000 was transferred to this fund in the year.

Fixed Asset fund - The net book value of fixed assets is shown in a seperated designated fund. Transfers between this and general funds represents fixed asset additions and disposals

Restricted funds

Community Outdoor space fund - funds received to promote biodiversity. The funds were used to build a pond in the charity's garden.

Accessibility Project - funds received to for the accessibility project. The £20,000 transfer reflects capital expenditure on the accessibility project.

For the year ended 31 August 2024
(Restated)
Restricted funds
Community Outdoor Space fund
Unrestricted funds
General funds
Designated funds
Contingency fund
Total funds Charity
Bristol Folk House Trading Limited
Inter-entity transactions
Total funds Groups		 At 1 Sep
2023
£
52
52
1,824,957
75,000
1,899,957
1,900,009
(4,109)
-
(4,109)
1,895,900		 Income
£
-
-
749,880
-
749,880
749,880
225,615
(20,000)
205,615
955,495		 Expenditure
£
(31)
(31)
(616,783)
-
(616,783)
(616,814)
(207,861)
20,000
(187,861)
(804,675)		 Transfers
£
-
-
-
-
-
-
-
-
-
-		 At 31 Aug
2024
£
21
21
1,958,054
75,000
2,033,054
2,033,075
13,645
-
13,645
2,046,720

18 Analysis of net assets between funds

Group
As at 31 August 2025
Fixed assets
Other net assets
Total Group
As at 31 August 2024
(Restated)
Fixed assets
Other net assets
Total Group		 Designated
General
funds
funds
£
£
1,943,472
-
100,000
120,962
2,043,472
120,962
Designated
General
funds
funds
£
£
-
1,740,836
75,000
230,863
75,000
1,971,699
Unrestricted funds
Unrestricted funds		 Restricted
funds
£
-
-
-
Restricted
funds
£
-
21
21		 Total
£
1,943,472
220,962
2,164,434
Total
£
1,740,836
305,884
2,046,720

27

BRISTOL FOLK HOUSE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2025

18 Analysis of net assets between funds ( continued )

----- Start of picture text -----
|||||| |---|---|---|---|---| |Charity|Unrestricted funds| |Designated|General|Restricted| |As at 31 August 2025|funds|funds|funds|Total| |£|£|£|£| |Fixed assets|1,943,472|-|-|1,943,472| |Other net assets|100,000|124,458|-|224,458| |Total Charity|2,043,472|124,458|-|2,167,930| |Unrestricted funds| |Designated|General|Restricted| |As at 31 August 2024|funds|funds|funds|Total| |(Restated)|£|£|£|£| |Fixed assets|-|1,736,546|-|1,736,546| |Other net assets|75,000|221,508|21|296,529| |Total Charity|75,000|1,958,054|21|2,033,075|

----- End of picture text -----

19 Operating lease commitments

At 31 August the charitable company had total minimum lease commitments under non-cancellable operating leases as follows:

----- Start of picture text -----
|||| |---|---|---| |2025|2024| |£|£| |Due in:| |Less than 1 year|7,436|3,561| |Between 2 and 5 years|19,951|8,011|

----- End of picture text -----

20 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.

21 Related party transactions

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 statements.

22 Prior year adjustment

There has been a £1,600,000 prior year adjustment to the brought forward funds to reflect the deemed cost of the freehold land and building that had previously not be recognised in the accounts.

The above restatement has the following effect on the comparative figures:

----- Start of picture text -----
||||| |---|---|---|---| |As|As|Restated| |previously|previously|Amount| |Balance Sheet|£|£|£| |Total unrestricted general funds as at 1 April 2023|(224,957)|(1,600,000)|(1,824,957)| |Freehold land and buildings as at 1 April 2023|-|1,600,000|1,600,000|

----- End of picture text -----

28