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2024-07-31-accounts

Trustees’ Annual Report for the period

From 15/01/2024 Period start date To 31/07/2024 Period end date

Charity name: Printfest Ulverston Charity registration number:1206531

Objectives and Activities

SORP reference
Summary of the purposes of
the charity as set out in its
governing document		 Para 1.17 The advancement of education for the public
benefit in the art of artistic printmaking by
holding an annual festival of artistic
printmaking in the unitary authority area of
Westmorland and by providing opportunities
for the public to learn about and practice the
skills and techniques of artistic printmaking.
Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or services
identified in the accounts.		 Para 1.17 and
1.19		 Printfest Ulverston combines year-round
work with local schools with a five-day
Printmaking festival dedicated to the
exhibition of contemporary prints. The
festival provides a rare opportunity for some
of the UK’s best printmakers to gather under
one roof and share their printmaking practice
with the public and each other. Integral to
the festival are a series of workshops where
the public can learn from established
printmakers and develop their own
printmaking skills using a variety of different
techniques. In 2024, 44 selected artists
exhibited, 2,250 members of the public
visited and 68 people participated in the
workshops.
23 local primary, secondary and alternative
provision schools participated in Printfest
2024. A schools’ printmaking brief was
developed, and workshops were run in
schools to engage both teachers and pupils.
This resulted in over 600 prints, produced by
pupils, being displayed at the festival.
Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit		 Para 1.18 The Trustees are fully aware of the guidance
issued by the Charities Commission on
public benefit and are careful to comply with
it. We believe that participation in the arts is
beneficial for health and the wellbeing of all
that get involved.

Additional information (optional) You may choose to include further statements where relevant about:

SORP reference Policy on grant making Para 1.38 Policy on social investment Para 1.38 including program related investment Contribution made by Para 1.38 volunteers Other

Achievements and Performance

SORP reference
Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.		 Para 1.20 Printfest in 2024 was the 21stevent that was
successfully delivered. It attracted 2,250
visitors, showing 44 of the best of the UK’s
printmakers from all over the UK. Seven
workshops took place where 68 participants
enjoyed learning new techniques. We also
linked up with Printshare Lakes to enable
workshops to carry on after the event had
finished.
23 Schools took part in the Schools
Programme and over 600 works were
produced by them and displayed on the
walls at the Coro in Ulverston. This year we
also ran workshops in schools for both pupils
and teachers. With less monies available in
schools for art education, without the support
of Printfest many schools would not have
enough resources to offer their pupils the
opportunities to experience printmaking.
Many people in the South Lakes area do not
have the opportunity to visit galleries or art
museums and some find them daunting and
inaccessible. Printfest is on their doorstep
and is a much friendlier accessible
experience.
We believe that there has not been a time
that involvement in the arts is so important
for the health and wellbeing of the public.

Additional information (optional) You may choose to include further statements where relevant about: Achievements against Para 1.41 objectives set Performance of fundraising Para 1.41 activities against objectives set Investment performance Para 1.41 against objectives Other

Financial Review

Financial Review
Review of the charity’s
financial position at the end
of the period		 Para 1.21 On the 31stof July 2024 the balance of
monies in the bank account and PayPal
amounted to £24,651.16.
Statement explaining the
policy for holding reserves
stating why they are held		 Para 1.22 Printfest has no overdraft facility, so it needs
reserves to start the process each year
before any payments and receipts come in.
Each year we apply for grants and funding
which are variable and not guaranteed. This
also necessitates having to have reserves.
Amount of reserves held Para 1.22 £24,651.16
Reasons for holding zero
reserves		 Para 1.22 N/A
Details of fund materially in
deficit		 Para 1.24 N/A
Explanation of any
uncertainties about the
charity continuing as a going
concern		 Para 1.23 Risk of lack of funding from Local authorities
and Trusts & Foundations
Risk of less paying visitor numbers
Increased costs of venue

Additional information (optional)

You may choose to include further statements where relevant about:

The charity’s principal Para 1.47 sources of funds (including any fundraising) Investment policy and Para 1.46 objectives including any social investment policy adopted

A description of the principal
risks facing the charity		 Para 1.46
Other Whist the accounts to the 31stof July 2024
show a deficit of (£14,564), this period only
accounts for 6.5 months of the financial
year’s results. The first 5.5 months before
being awarded charitable status showed a
surplus, which resulted in the end of year
funds held by the charity of £24,651.

Structure, Governance and Management

Description of charity’s
trusts:
Type of governing document
(trust deed,royalcharter)		 Para 1.25 Constitution adopted 15thJanuary 2024
How is the charity
constituted?
(e.g unincorporated
association, CIO)		 Para 1.25 Charitable Incorporated Organisation
Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees		 Para 1.25 The Trustees are appointed or reappointed
annually at the AGM in the end of August.

Additional information (optional) You may choose to include further statements where relevant about: Policies and procedures Para 1.51 adopted for the induction and training of trustees The charity’s organisational Para 1.51 structure and any wider network with which the charity works Relationship with any related Para 1.51 parties Other

Reference and Administrative details

Charity name Printfest Ulverston
Other name the charity uses
Registered charity number 1206531
Charity’s principal address 3 Stockbridge Lane, Ulverston, Cumbria LA12 7BG

Names of the charity trustees who manage the charity

----- Start of picture text -----
Dates acted if not Name of person (or body) entitled to
Trustee name Office (if any)
for whole year appoint trustee (if any)
1 Keith Bamber Treasurer
2 Alyson Dickson Acting Chair
3 Janet Benefield
4 Lorraine Thompson
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
–
Corporate trustees names of the directors at the date the report was approved
Director name
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Name of trustees holding title to property belonging to the charity

Trustee name Dates acted if not for whole year

Funds held as custodian trustees on behalf of others

Description of the assets
held in this capacity		 N/A
Name and objects of the
charity on whose behalf the
assets are held and how this
falls within the custodian
charity’s objects		 N/A
Details of arrangements for
safe custody and
segregation of such assets
from the charity’s own assets		 N/A

Additional information (optional)

Names and addresses of advisers (Optional information)

Additional information (optional)
Names and addresses of advisers (Optional information)		 Additional information (optional)
Names and addresses of advisers (Optional information)		 Additional information (optional)
Names and addresses of advisers (Optional information)
Type of
adviser
Name
Address
Bankers Barclays Bank Plc 28 Duke Street, Barrow in Furness, Cumbria LA14 1HH
Solicitors Livingstons 9 Benson Street, Ulverston, Cumbria LA12 7AU
Accountants Redhead
Accountancy Ltd		 Bank House, Griffin Street, Broughton in Furness,
Cumbria LA20 6HH

Name of chief executive or names of senior staff members (Optional information)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

Other optional information

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

----- Start of picture text -----
Signature(s)
Alyson Dickson
Full name(s) Keith Bamber
Position (eg Secretary, Treasurer Acting Chair
Chair, etc)
Date
----- End of picture text -----

Charity registration number 1206531

Company registration number CE034885 (England and Wales)

PRINTFEST ULVERSTON

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

PRINTFEST ULVERSTON

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Charity number

Company number

Registered office

Independent examiner

Keith Bamber Lorraine Thompson Alyson Dickson Janet Benefield

1206531

CE034885

3 Stockbridge Lane Ulverston Cumbria LA12 7BG

Redhead Accountancy Ltd Bank House Griffin Street Broughton-in-Furness Cumbria LA20 6HH

(Appointed 18 January 2024) (Appointed 1 June 2024) (Appointed 18 January 2024) (Appointed 18 January 2024)

PRINTFEST ULVERSTON

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 - 10

PRINTFEST ULVERSTON

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 JULY 2024

The Trustees present their annual report and financial statements for the year ended 31 July 2024.

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 constitution, the Companies Act 2006 and "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).

Objectives and activities

Printfest Ulverston is an annual Arts Festival that celebrates the Hand Made Print and takes place at the Coronation Hall. It offers the public the opportunity to view good quality artworks, to meet the artists and to learn more about printmaking. Printfest supports programmes of workshops for the public, teachers and schools, and Ulverston Fringe - celebrating the Arts and Culture of Ulverston.

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

We have achieved our targets for fundraising against our set objectives.

Financial review

Reserves policy

It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to the expenditure needed to start the following year's event. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Structure, governance and management

The Charity is a company limited by guarantee.

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Keith Bamber (Appointed 18 January 2024) Lorraine Thompson (Appointed 1 June 2024) Alyson Dickson (Appointed 18 January 2024) Janet Benefield (Appointed 18 January 2024)

Recruitment and appointment of trustees

None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

The company's current policy concerning the payment of trade creditors is to:

Trade creditors of the company at the year end were minimal.

PRINTFEST ULVERSTON

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

The Trustees report was approved by the Board of Trustees.

Keith Bamber Trustee

28 May 2025

PRINTFEST ULVERSTON

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PRINTFEST ULVERSTON

I report to the Trustees on my examination of the financial statements of Printfest Ulverston (the Charity) for the year ended 31 July 2024.

Responsibilities and basis of report

As the Trustees of the Charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

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:

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.

Redhead Accountancy Ltd

Bank House Griffin Street Broughton-in-Furness Cumbria LA20 6HH

Dated: 28 May 2025

PRINTFEST ULVERSTON

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 JULY 2024

Unrestricted
funds
2024
Notes £
Income from:
Donations and legacies 3 7,125
Charitable activities 4 20,433
Total income 27,558
Expenditure on:
Charitable activities 5 42,122
Total expenditure 42,122
Net expenditure and movement in funds (14,564)
Reconciliation of funds:
Fund balances at 15 January 2024 38,715
Fund balances at 31 July 2024 24,151

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

PRINTFEST ULVERSTON

BALANCE SHEET

AS AT 31 JULY 2024

Notes
Current assets
Cash at bank and in hand
Creditors: amounts falling due within one year
10
Net current assets
Net assets excluding pension liability
The funds of the Charity
Unrestricted funds		 2024
£
24,651
(500)		 £
24,151
24,151
24,151
24,151

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 July 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 28 May 2025

Keith Bamber Trustee

Company registration number CE034885 (England and Wales)

PRINTFEST ULVERSTON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

1 Accounting policies

Charity information

Printfest Ulverston is a private company limited by guarantee incorporated in England and Wales. The registered office is 3 Stockbridge Lane, Ulverston, Cumbria, LA12 7BG.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) 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)" (effective 1 January 2019). 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 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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 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.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity.

1.4 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.

Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

PRINTFEST ULVERSTON

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

1 Accounting policies

(Continued)

1.5 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.

1.6 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.

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.

1.7 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.

PRINTFEST ULVERSTON

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

2 Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2024
£ £
Donations and gifts 1,275 -
Local Authority funding 2,000 -
Sponsorship 3,850 -
7,125 -

4 Income from charitable activities

Unrestricted Unrestricted
funds funds
2024
£ £
Festival Income
Sale of goods 20,433 -

PRINTFEST ULVERSTON

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2024

5 Expenditure on charitable activities

Event Costs
2024
£
Direct costs
Artists Expenditure 11,737
Event Expenditure 13,130
Participation 4,587
Marketing Expenditure 11,153
Overheads 1,515
42,122
Analysis by fund
Unrestricted funds 42,122
6 Net movement in funds 2024
£
The net movement in funds is stated after charging/(crediting):

7 Trustees

None of the Trustees received any remuneration or benefits from the Charity during the year, see Related Party note 13 for connected persons remuneration.

8 Employees

The average monthly number of employees during the year was:

2024
Number
Total -

There were no employees whose annual remuneration was more than £60,000.

Remuneration of key management personnel

The remuneration of key management personnel was as follows:

9 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

PRINTFEST ULVERSTON

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2024

10 Creditors: amounts falling due within one year

Notes
Government grants
11
11
Government grants
Deferred income is included in the financial statements as follows:
Deferred income is included within:
Current liabilities
There were no movements in the year.		 2024
£
500
2024
£
500

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 15 January Incoming Resources At 31 July
2024 resources expended 2024
£ £ £ £
General funds 38,715 27,558 (42,122) 24,151

13 Related party transactions

Sally Bamber, the wife of Keith Bamber (A trustee and Treasurer of Printfest Ulverston), trading as Sally Bamber Art & Design, supplied Printfest Ulverston with a full marketing service which amounted to £6,195.07 during the accounting period.

The fees and costs covered, design, production and supply of all print material, design and production of advertising including the buying of all media, website design, hosting, and maintenance. Mailings to our database, production and supply of all material needed for the event.

All fees and costs were fully costed and agreed by the Trustees before the start of the financial year. The Trustees understand that all work produced by Sally Bamber were below market rates. The Trustees review this agreement on a year-by-year basis.

PRINTFEST

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PRINTFEST

I report to the Trustees on my examination of the financial statements of Printfest (the Charity) for the year ended 31 July 2024.

Responsibilities and basis of report

As the Trustees of the Charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

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:

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.

Redhead Accountancy Ltd

Bank House Griffin Street Broughton-in-Furness Cumbria LA20 6HH

Dated: 28 May 2025