REGISTERED CHARITY NUMBER: 1193943
Report of the Trustees and
Unaudited Financial Statements for the Period 26 March 2021 to 31 March 2022
for
British Arts Festivals Association
Thorne & Co. Accountants
1 St Mary's Street Ross-on-Wye Herefordshire HR9 5HT
British Arts Festivals Association
Contents of the Financial Statements for the Period 26 March 2021 to 31 March 2022
| Page | |
|---|---|
| Chair's Report | 1 |
| Report of the Trustees | 2 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 9 |
| Detailed Statement of Financial Activities | 10 |
British Arts Festivals Association
Chair's Report for the Period 26 March 2021 to 31 March 2022
The 2021/22 financial year has delivered a mixed picture for the festival sector, and accordingly, for BAFA. As the impact of Covid begins to ease, it has been heartening to see live events - and audiences - return, yet the failure to return to pre-Covid attendance has been widely-reported in the festival sector and beyond. The consequence for BAFA is that our work role in supporting festivals has never been more vital, but the straitened times festivals find themselves in has led to the loss of some members and a slower recovery than we had anticipated last year.
Spending levels at BAFA have remained consistent with the previous year, with the exception of spending on events, as we return to in-person activity along with festivals themselves. In November, BAFA delivered its first in-person event since the pandemic in a successful two day Conference for Festivals in Harrogate. Titled 'Reconnect', the conference was a welcome chance for colleagues across the sector to share experiences, support one another, and delve into a wealth of conference sessions, which featured a keynote from Slung Low's Alan Lane, and industry speakers including Industry Minds, Without Walls, Unboxed (Festival 2022), Indigo, Manchester International Festival and Northern Broadsides.
BAFA has retained some practices adopted during the lock down, and this year delivered its first all-online Student Conference - A Festival Career - in May 2021, using similar processes and team for the February 2021 online Conference for Festivals. Strong involvement from BAFA university members, including Edinburgh Napier University team and students, was a big benefit both for the content and delivery and the online format enabled a wider geographical spread of student attendees.
This year BAFA also secured funding for a 4 year fully-funded PhD as a Collaborative Doctoral Award from Birmingham City University, which commences in September 2022. This will run alongside Festivals Mean Business 4 and enable a step change in our understanding of the sector's response not only to the pandemic but to the challenges of Brexit, the climate crisis and social justice movements.
I'd like to take this opportunity to extend my thanks to all the members who contribute their knowledge and expertise to the BAFA community, and the small staff team who keep our festivals connected. My particular thanks to my fellow Board of Trustees, and especially to Jack Whitewood, who stands down after a number of years as a committed and hardworking Treasurer. We also look forward to welcoming our latest addition to the board - Anna Gregg of Tête-à-Tête: The Opera Festival.
As ever, our sector remains resilient, resourceful and creative, and we are proud of the work BAFA does to support and celebrate festivals around the UK.
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British Arts Festivals Association
for the Period 26 March 2021 to 31 March 2022
Report of the Trustees
The trustees present their report with the financial statements of the charity for the period 26 March 2021 to 31 March 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
FINANCIAL REVIEW
Reserves policy
The Trustees have examined the need for reserves in the light of the main risks to the organisation and consider that unrestricted and uncommitted liquid funds should be at least 6 months expenditure. These reserves are needed to meet the working capital requirements of the charity and enable it to continue in the event of a significant drop in income.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The British Arts Festivals Association (BAFA) is a Charitable Incorporated Organisation (CIO). BAFA is governed by an 'Association' model constitution that sets out a board of trustees and voting rights for members at the Annual General Meeting.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1193943
Principal address
1 St Mary's Street Ross-on-Wye Herefordshire HR9 5HT
Trustees
L N Fineran (appointed 26.3.21) A J Giles (appointed 26.3.21) A J Morris (appointed 26.3.21) A M Paterson (appointed 26.3.21) J L R Whitewood (appointed 26.3.21) (resigned 22.6.22) H Heslop (appointed 26.3.21) J M Ali-Knight (appointed 26.3.21) S M Canavar (appointed 26.3.21) E J Smith (appointed 26.3.21) A Gregg (appointed 5.9.22)
Independent Examiner
Thorne & Co. Accountants 1 St Mary's Street Ross-on-Wye Herefordshire HR9 5HT
COMMENCEMENT OF ACTIVITIES
BAFA has converted from a company to a CIO. BAFA the Company (08282867) was formally dissolved on 5 October 2021. BAFA'S previous registered charity number (1010867) has been replaced by the new CIO (charity number 1193943, registered on 26 March 2021). Comparative figures have not been provided due to the change in the status of the charity, but can be found on the final accounts prepared for the charity 1010867. The 2021 reserves carried forward from the incorporated charity of £11,082 have been introduced into the accounts of the CIO as a "Gift" under Donations and legacies.
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British Arts Festivals Association
for the Period 26 March 2021 to 31 March 2022
Report of the Trustees
Approved by order of the board of trustees on 18 November 2022 and signed on its behalf by:
A M Paterson - Trustee
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Independent Examiner's Report to the Trustees of British Arts Festivals Association
Independent examiner's report to the trustees of British Arts Festivals Association
I report to the charity trustees on my examination of the accounts of British Arts Festivals Association (the Trust) for the period 26 March 2021 to 31 March 2022.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Edward Richards FCCA Thorne & Co. Accountants 1 St Mary's Street Ross-on-Wye Herefordshire HR9 5HT
22 November 2022
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British Arts Festivals Association
Statement of Financial Activities for the Period 26 March 2021 to 31 March 2022
| Unrestricted | ||
|---|---|---|
| funds | ||
| Notes | £ | |
| INCOME AND ENDOWMENTS FROM | ||
| Donations and legacies | 11,082 | |
| Other trading activities | 2 | 20,857 |
| Total | 31,939 | |
| EXPENDITURE ON | ||
| Charitable activities | ||
| General | 21,448 | |
| NET INCOME | 10,491 | |
| TOTAL FUNDS CARRIED FORWARD | 10,491 |
The notes form part of these financial statements
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British Arts Festivals Association
Balance Sheet 31 March 2022
| Unrestricted | ||
|---|---|---|
| funds | ||
| Notes | £ | |
| CURRENT ASSETS | ||
| Debtors | 4 | 488 |
| Cash at bank | 13,934 | |
| 14,422 | ||
| CREDITORS | ||
| Amounts falling due within one year | 5 | (3,931) |
| NET CURRENT ASSETS | 10,491 | |
| TOTAL ASSETS LESS CURRENT | ||
| LIABILITIES | 10,491 | |
| NET ASSETS | 10,491 | |
| FUNDS | 6 | |
| Unrestricted funds | 10,491 | |
| TOTAL FUNDS | 10,491 |
The financial statements were approved by the Board of Trustees and authorised for issue on 18 November 2022 and were signed on its behalf by:
A M Paterson - Trustee
The notes form part of these financial statements
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British Arts Festivals Association
Notes to the Financial Statements for the Period 26 March 2021 to 31 March 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives 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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. OTHER TRADING ACTIVITIES
| Government funding Commission received Event income Membership fees Other Income |
£ 1,750 633 3,059 15,410 5 |
|---|---|
| 20,857 |
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continued...
British Arts Festivals Association
Notes to the Financial Statements - continued for the Period 26 March 2021 to 31 March 2022
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the period ended 31 March 2022.
Trustees' expenses
There were no trustees' expenses paid for the period ended 31 March 2022.
4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| DEBTORS: AMOUNTS FALLING DUE WITHIN ONE | YEAR |
|---|---|
| £ | |
| Other debtors | 488 |
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors
£ 3,931
6. MOVEMENT IN FUNDS
| Net movement in funds £ Unrestricted funds General fund (591) Pre Incorporation Activity 11,082 10,491 TOTAL FUNDS 10,491 |
At 31.3.22 £ (591) 11,082 10,491 10,491 |
|---|---|
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 20,857 | (21,448) | (591) |
| Pre Incorporation Activity | 11,082 | - | 11,082 |
| 31,939 | (21,448) | 10,491 | |
| TOTAL FUNDS | 31,939 | (21,448) | 10,491 |
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continued...
British Arts Festivals Association
Notes to the Financial Statements - continued for the Period 26 March 2021 to 31 March 2022
7. RELATED PARTY DISCLOSURES
There were no related party transactions for the period ended 31 March 2022.
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British Arts Festivals Association
Detailed Statement of Financial Activities for the Period 26 March 2021 to 31 March 2022
£
| INCOME AND ENDOWMENTS Donations and legacies Gifts Other trading activities Government funding Commission received Event income Membership fees Other Income Total incoming resources EXPENDITURE Charitable activities Wages Pensions Event costs Subscriptions Support costs Management Insurance Postage and stationery Finance Bank charges Governance costs Accountancy and legal fees Total resources expended Net income |
11,082 1,750 633 3,059 15,410 5 |
|---|---|
| 20,857 | |
| 31,939 16,663 76 2,424 240 |
|
| 19,403 328 433 |
|
| 761 150 1,134 |
|
| 21,448 | |
| 10,491 |
This page does not form part of the statutory financial statements
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