**Charity registration number 1202918 (England and Wales)**
## **PRIMADONNA FESTIVAL AND PRIZE CIO**
# **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 OCTOBER 2025**
## **PRIMADONNA FESTIVAL AND PRIZE CIO**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|T P Bleakley|
|---|---|
||C Duncan|
||W Li|
||E T Soanes|
||J Baker|
|**Charity number (England and Wales)**|1202918|
|**Registered office**|Laffitts Hall|
||Framsden Road|
||Pettaugh|
||Stowmarket|
||England|
||IP14 6DT|
|**Independent examiner**|Sedulo London Limited|
||Office 605 Albert House|
||256 - 260 Old Street|
||London|
||United Kingdom|
||EC1V 9DD|
## **PRIMADONNA FESTIVAL AND PRIZE CIO**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 2|
|Independent examiner's report|3|
|Statement of financial activities|4|
|Balance sheet|5|
|Notes to the financial statements|6 - 12|
## **PRIMADONNA FESTIVAL AND PRIZE CIO**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 OCTOBER 2025**_
The trustees present their annual report and financial statements for the year ended 31 October 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".
## **Objectives and activities**
The objects of Primadonna Festival and Prize CIO are to promote the public appreciation of, and to educate the public in, the arts of literature, creative writing and the performing arts. Primadonna is a female-led literary organisation for the curious and the open-minded. We are a nurturing, encouraging and empowered community for people of all genders and backgrounds; people with both seen and unseen disabilities; and people who have been disadvantaged in the arts. We are proud of our history of opening up access to the publishing industry and the Primadonna Prize is the first known grammar-blind literary prize in the UK.
## _Public benefit_
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## **Achievements and performance**
## _Significant activities and achievements against objectives_
In the Spring of 2025 Trustees took the difficult decision not to go ahead with presenting the Primadonna Festival in July 2025 due to an extremely challenging financial environment. During this fallow year, Trustees considered potential futures models for the charity alongside presenting the Primadonna Festival Culture Club - an event at Christchurch Mansion in Ipswich in September 2025 aimed at young creatives in collaboration with Shine and Aspire Black Suffolk.
This collaborative project, rooted in Primadonna’s mission to amplify unheard voices and make the arts accessible and transformative, offered a creative, inclusive programme curated especially for a Global Majority audience, focussing on breaking down barriers to cultural participation and opening doors into the creative industries.
The headline speaker, Kelechi Okafor, was joined by inspring writers, artists, and changemakers who use creativity as a tool for empowerment, joy, and transformation — and who are paving the way for the next generation of creative professionals to thrive. Aspire Black Suffolk also organised and coordinated a team of 10 young volunteers to support the event, each receiving 1-2-1 mentoring on the night.
Primadonna Festival Director, Producer, Administrative Assistant and Designer all supported this event alongside staff from Shine and Aspire Black Suffolk.
Following a process of review over the course of the year, Trustees concluded there was no immediate prospect of staging the Primadonna Festival. However, a partnership with an independent publisher has been developed to reinvigorate the Primadonna Prize for unpublished writers. In addition, Primadonna has entered into a partnership with the University of Suffolk’s MA course in Creative Writing to establish a bursary scheme for aspiring writers from backgrounds under-represented in publishing.
## **Financial review**
During the year ended 31 October 2025, total income was £53,658 (2024: £190,823) and total expenditure was £31,573 (2024: £184,011) resulting in a surplus of £22,085 (2024: £6,812). Income for the period was mainly comprised of donations and grants as it was a fallow year with no festival being held. Donations and grants supported the charity’s collaborative projects.
At 31 October 2025, the charity held reserves of £28,897 (2024: £6,812), of which £1,500 were restricted.
- 1 -
## **PRIMADONNA FESTIVAL AND PRIZE CIO**
## **TRUSTEES' REPORT (CONTINUED)**
## _**FOR THE YEAR ENDED 31 OCTOBER 2025**_
## _Going concern_
The Trustees are of the opinion that the charity's financial position and projected cash flow is sufficient to enable it to present the Primadonna Prize in 2026/2027. The Trustees therefore continue to adopt the going concern basis of accounting in preparing the financial statements.
## _Reserves policy_
The Trustees have approved the reserves policy for Primadonna Festival and Prize CIO. The charity should aim to hold three months of operating expenditure and sufficient unrestricted reserves to cover any non-negotiable contracted commitments beyond that period.
At 31 October 2025, the charity held free reserves of £27,397. This falls within the reserves target as it currently stands with reduced operations in process and no immediate prospect of staging the Primadonna Festival. The Trustees will review the level of reserves during the coming year to ascertain if the policy remains appropriate for the organisation.
## **Plans for future periods**
The charity will deliver the Primadonna Prize for unpublished writers in 2026/2027, alongside our partnership with University of Suffolk.
## **Structure, governance and management**
The charity is a Charitable Incorporated Organisation, registered in England and Wales on 3 May 2023 and is governed by its CIO constitution.
The trustees who served during the year and up to the date of signature of the financial statements were: T P Bleakley
C Duncan
W Li E T Soanes J Baker
## _Recruitment and appointment of trustees_
Trustee vacancies are overseen by a subset of current trustees. In selecting individuals for appointment as Trustees, this group has regard to the skills, knowledge and experience needed for the effective administration of the CIO, alongside a proven commitment to Primadonna’s core values of inclusivity and diversity.
Every Trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the Trustees. Any person retiring as a Trustee is eligible for reappointment, provided that a Trustee who has served for two consecutive terms may not be reappointed for a third term until a period of at least five years has elapsed.
## _Organisational structure_
The charity contracts a part time administrator to manage core activities as required.
The trustees' report was approved by the Board of Trustees.
## Joanna Baker
`21/08/2026 16:00:36` .............................. `5c3100bc7f21b17e68650737ed935e41` J Baker
## **Trustee**
21 August 2026 Date: .............................................
- 2 -
## **PRIMADONNA FESTIVAL AND PRIZE CIO**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF PRIMADONNA FESTIVAL AND PRIZE CIO**
I report to the trustees on my examination of the financial statements of Primadonna Festival And Prize CIO (the charity) for the year ended 31 October 2025.
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
## **Independent examiner's statement**
Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 130 of the Charities Act 2011.
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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 financial statements to be reached.
Emma Houghton FCCA
## **Sedulo London Limited**
Office 605 Albert House 256 - 260 Old Street London EC1V 9DD United Kingdom Date: ............................24 August 2026
- 3 -
## **PRIMADONNA FESTIVAL AND PRIZE CIO**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **(INCLUDING INCOME AND EXPENDITURE ACCOUNT)**
## _**FOR THE YEAR ENDED 31 OCTOBER 2025**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2025**
**2025**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**2**
52,158
1,500
Charitable activities
**3**
-
-
**Total income**
52,158
1,500
**Expenditure on:**
Charitable activities
**4**
31,573
-
**Total expenditure**
31,573
-
**Net income and movement in**
**funds**
20,585
1,500
**Reconciliation of funds:**
Fund balances at 1 November
2024
6,812
-
**Fund balances at 31 October 2025**
27,397
1,500|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2025**
**2024**
**2024**
**£**
**£**
**£**
53,658
171,741
500
-
18,582
-
53,658
190,323
500
31,573
183,511
500
31,573
183,511
500
22,085
6,812
-
6,812
-
-
28,897
6,812
-|**Total**
**2024**
**£**
172,241
18,582|
|---|---|---|
|||190,823
184,011|
|||184,011|
|||6,812
-|
|||6,812|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 4 -
## **PRIMADONNA FESTIVAL AND PRIZE CIO**
## **BALANCE SHEET**
## _**AS AT 31 OCTOBER 2025**_
|**Notes**
**Current assets**
Debtors
**9**
Cash at bank and in hand
**Creditors: amounts falling due within one year**
**10**
**Net current assets**
**The funds of the charity**
Restricted income funds
**11**
Unrestricted funds
**12**|**2025**
**£**
-
30,937
30,937
(2,040)|**2024**
**£**
**£**
6,337
24,536
30,873
(24,061)
28,897
1,500
27,397
28,897|**£**
6,812|
|---|---|---|---|
||||-
6,812|
||||6,812|
21 August 2026 The financial statements were approved by the trustees on .........................
## Joanna Baker
..............................
`21/08/2026 16:00:36 5c3100bc7f21b17e68650737ed935e41` J Baker
**Trustee**
- 5 -
## **PRIMADONNA FESTIVAL AND PRIZE CIO**
## **NOTES TO THE FINANCIAL STATEMENTS**
## _**FOR THE YEAR ENDED 31 OCTOBER 2025**_
## **1 Accounting policies**
## **Charity information**
Primadonna Festival And Prize CIO is a a Charitable Incorporated Organisation.
## 1.1 **Reporting period**
In the prior year, the financial statements are presented for a period of 18 months as the charity is newly formed and changed their financial year to align with the timing of the annual festival.
## **1.2 Basis of preparation**
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.3 Going concern**
The Trustees are of the opinion that the charity's financial position and projected cash flow is sufficient to enable it to present the Primadonna Prize in 2026/2027. The Trustees therefore continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.4 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
## **1.5 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
- 6 -
## **PRIMADONNA FESTIVAL AND PRIZE CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 OCTOBER 2025**_
## **1 Accounting policies**
**(Continued)**
## **1.6 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
## **1.7 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.8 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
- 7 -
## **PRIMADONNA FESTIVAL AND PRIZE CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2025**_
## **1 Accounting policies**
## **(Continued)**
## **1.9 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **2 Income from donations and legacies**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2025**
**2025**
**£**
**£**
Donations and gifts
52,158
-
Grants
-
1,500
Donated goods and services
-
-
52,158
1,500|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2025**
**2024**
**2024**
**£**
**£**
**£**
52,158
8,040
-
1,500
100,715
500
-
62,986
-
53,658
171,741
500|**Total**
**2024**
**£**
8,040
101,215
62,986|
|---|---|---|
|||172,241|
## **3 Income from charitable activities**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2025**|**2024**|
||**£**|**£**|
|**Events**|||
|Ticket sales|-|14,788|
|Bookshop|-|941|
|Stallholders and food vendors|-|2,186|
|Merchandise|-|667|
||-|18,582|
- 8 -
## **PRIMADONNA FESTIVAL AND PRIZE CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 OCTOBER 2025**_
## **4 Expenditure on charitable activities**
|**Direct costs**
Freelance
Production costs
Artist costs
Advertising and marketing
Office and administration
**Share of support and governance costs (see note 5)**
Support
Governance
**Analysis by fund**
Unrestricted funds
Restricted funds
**Support costs allocated to activities**
Staff costs
Governance costs
**Analysed between:**
Events|**Events**
**2025**
**£**
19,914
3,593
1,850
1,106
652
27,115
858
3,600
31,573
31,573
-
31,573
**2025**
**£**
858
3,600
4,458
4,458|**Events**
**2024**
**£**
30,788
59,702
40,873
9,818
1,382|
|---|---|---|
|||142,563
36,462
4,986|
|||184,011|
|||183,511
500|
|||184,011|
|||**2024**
**£**
36,462
4,986|
|||41,448|
|||41,448|
## **5 Support costs allocated to activities**
## **6 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
None of the trustees were reimbursed expenses during the period.
- 9 -
## **PRIMADONNA FESTIVAL AND PRIZE CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 OCTOBER 2025**_
## **7 Employees**
The average monthly number of employees during the year was:
||**2025**|**2024**|
|---|---|---|
||**Number**|**Number**|
||1|1|
|**Employment costs**|**2025**|**2024**|
||**£**|**£**|
|Wages and salaries|858|36,462|
There were no employees whose annual remuneration was more than £60,000.
## **Remuneration of key management personnel**
The Key Management Personnel are considered to be the Trustees, who are not remunerated for their time and the Organisation Director. The total benefits received by the Key Management Personnel during the year were £nil (2024: £40,028).
## **8 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
|**9**
**Debtors**
**Amounts falling due within one year:**
Prepayments and accrued income
**10**
**Creditors: amounts falling due within one year**
**Notes**
Other taxation and social security
Deferred income
Trade creditors
Other creditors
Accruals|**2025**
**£**
-
**2025**
**£**
-
-
-
-
2,040
2,040|**2024**
**£**
6,337|
|---|---|---|
|||**2024**
**£**
7
195
150
1,515
22,194|
|||24,061|
- 10 -
## **PRIMADONNA FESTIVAL AND PRIZE CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2025**_
## **11 Restricted funds**
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
|**At 1 November**
**2024**
**Incoming**
**resources**
**Resources**
**expended**
**At 31**
**£**
**£**
**£**
Wise Foundation
-
1,500
-
**Previous period:**
**At 1 November**
**2023**
**Incoming**
**resources**
**Resources**
**expended**
**At 31**
**£**
**£**
**£**
University of Suffolk: Firsts Writing Competition
-
500
(500)|**October**
**2025**
**£**
1,500|
|---|---|
||**October**
**2024**
**£**
-|
## **12 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
|**At 1 November**
**2024**
**Incoming**
**resources**
**Resources**
**expended**
**At 31**
**£**
**£**
**£**
General funds
6,812
52,158
(31,573)
**Previous period:**
**At 1 November**
**2023**
**Incoming**
**resources**
**Resources**
**expended**
**At 31**
**£**
**£**
**£**
General funds
-
190,323
(183,511)
**Analysis of net assets between funds**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2025**
**2025**
**£**
**£**
**At 31 October 2025:**
Current assets/(liabilities)
27,397
1,500
27,397
1,500|**October**
**2025**
**£**
27,397|
|---|---|
||**October**
**2024**
**£**
6,812|
||**Total**
**2025**
**£**
28,897|
||28,897|
## **13 Analysis of net assets between funds**
- 11 -
## **PRIMADONNA FESTIVAL AND PRIZE CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 OCTOBER 2025**_
|**13**|**Analysis of net assets between funds**|||**(Continued)**|
|---|---|---|---|---|
|||**Unrestricted**|**Restricted**|**Total**|
|||**funds**|**funds**||
|||**2024**|**2024**|**2024**|
|||**£**|**£**|**£**|
||**At 31 October 2024:**||||
||Current assets/(liabilities)|6,812|-|6,812|
|||6,812|-|6,812|
## **14 Related party transactions**
During the year, the charity collaborated on a project with Aspire Black Suffolk CIC of which Ellisha Soames is also a director.
- 12 -
This document has been securely signed with Doc2
|**TITLE**|Primadonna Festival and Prize CIO - 2025 Accounts v2|Primadonna Festival and Prize CIO - 2025 Accounts v2||
|---|---|---|---|
|**CREATED**|Friday, 21 August 2026 14:10:31|||
|**DOCUMENT ID**|9278734c7b9886045725c9cc3b6491ff|||
|**STATUS**|Completed|||
|**SIGNATORIES**||||
|**NAME**|**EMAIL**|**SIGNED**|**SIGNATORY ID**|
|**Joanna Baker**|joannabaker@virginmedia.com|Fri, 21 Aug 2026 16:00:36|5c3100bc7f21b17e68650737ed935e41|
## **DOCUMENT HISTORY**
|Fri,|21|Aug|2026|14:10:31|**Emma Houghton**(emma.houghton@sedulo.co.uk) created the envelope|212.36.160.61|
|---|---|---|---|---|---|---|
|Fri,|21|Aug|2026|14:21:19|Signature request emailed to**Joanna Baker**(joannabaker@virginmedia.com)|212.36.160.61|
|Fri,|21|Aug|2026|14:32:42|**Joanna Baker**(joannabaker@virginmedia.com) viewed the document|81.111.102.206|
|Fri,|21|Aug|2026|15:57:58|**Joanna Baker**(joannabaker@virginmedia.com) viewed the document|81.111.102.206|
|Fri,|21|Aug|2026|16:00:36|**Joanna Baker**(joannabaker@virginmedia.com) signed the document|81.111.102.206|
|Fri,|21|Aug|2026|16:00:36|**Document has been signed by all parties**||
Signing Certificate Page 1