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|Welcome from the Chairman||2 to 3|
|---|---|---|
|Reference and Administrative|Details||
|Chief Executive's Report|||
|Trustees' Report||7to 11|
|Statement ofTrustees'
Responsibilities||12|
|Independent
Auditors'
Report||13to 15|
|Statement ofFinancial Activities||16to 17|
|Balance Sheet||18|
|Statement ofCash Flows||19|
|Notes to the Financial Statements||20to 30|
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|Festival Income|R973,487|g868,919|
|---|---|---|
|Festival income received in prior years|843,152|@118,154|
|Future Festival income received in current year|(g2,375)|(443,152)|
|Festival expenditure|(R985,949)|(g916,780)|
|Revaluation
ofinvestments|(R4,597)|R7,640|
|Net result|@23,718|R34,781|
|Transfer ofSociety assets|g1,131,075|RO|
|Total Statutory accounts income|R2,104,562|8868,919|
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|||Unrestricted|Restricted|Restricted|Endowment|Total funds|
|---|---|---|---|---|---|---|
|||funds|funds||funds|2022|
||Note|S|S||S|S|
|Income and Endowments|from:||||||
|Donations
and legacies|3|607,984|991,411||91,330|1,690,725|
|Charitable
activities|4|411,041||375||411,416|
|Investment
income|5|2,421||||2421|
|Total Income||1,021,446|991|786|91,330|2,104,562|
|Expenditure
on:|||||||
|Charitable
activities|6|985,949||||985,949|
|Total Expenditure||(985,949)||||(985,949)|
|Gains/losses
on|||||||
|investment
assets||4,597||||4,597|
|Net income||30,900|991,786||91,330|1,114,016|
|Transfers between funds||176,865|176,865||||
|Net movement
in funds||207,765|814,921||91,330|1,114,016|
|Reconciliation
offunds|||||||
|Total funds brought|||||||
|forward||89,633|43,152|||132,785|
|Total funds carried|||||||
|forward|18|297,398|858,073||91330|1,246,801|
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|||
and Lo|
sses)|||
|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total funds|
||||funds|funds|2021|
|||Note|S|S||
|Income and Endowments|from:|||||
|Donations
and legacies|||377,259|228,285|605,544|
|Charitable
activities|||261,184||261,184|
|Investment
income|||2,191||2,191|
|Total Income|||640,634|228,285|868,919|
|Expenditure
on:||||||
|Charitable
activities|||916,780||916,780|
|Total Expenditure|||(916,780)||(916,780)|
|Gains/losses
on invesiment|assets||7,640||7,640|
|Net (expenditure)
/income|||(268,506)|228,285|(40,221)|
|Transfers
between funds|||341,439|341,439||
|Net movement
in funds|||72,933|(113,154)|(40,221)|
|Reconciliation
offunds||||||
|Total funds brought
forward|||16700|156,306|173,006|
|Total funds carried forward||18|89,633|43,152|132,785|
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||
Balance Sheet as at 30Septe|mber 20|22||
|---|---|---|---|---|
||||2022|2021|
|||Note|S|S|
|Fhred assets|||||
|Intangible
assets||11|17,240||
|Tangible assets||12|9,781|10,569|
|Investments||13|1,036,304|66,587|
||||1,063,325|77 156|
|Current assets|||||
|Stocks||14|1,650|1,915|
|Debtors||15|120,282|70,708|
|Cash at bank and in|hand||167,083|123,062|
||||289,015|195,685|
|Creditors: Amounts|falling due within one year|16|84417|118,934|
|Net current assets|||204,598|76,751|
|Total assets less current liabilities|||1,267,923|153,907|
|Creditors: Amounts|falling due after more than one||||
|year||17|21,122|21,122|
|Net assets|||1,246,801|132,785|
|Funds ofthe oharity:|||||
|Endowment
funds|||91,330||
|Restricted funds|||858,073|43,152|
|Total unrestricted|funds||297,398|89,633|
|Total funds||18|1,246,801|132,785|
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|Statement ofCash Flows for the Year E|nded 30S|eptember 2022||
|---|---|---|---|
|||2022|2021|
||Note|4|S|
|Cash flows from operating
activities||||
|Net cash income/(expenditure)||1,114,016|(40,221)|
|Adjustments
to cash flows from non-cash items||||
|Depreciation||4,321|3,993|
|Amortisation||8,620|900|
|Investment
income||(2,42 I)|(2,191)|
|Financial instrument
net (gains) losses through||||
|statement offinancial activities||4,597|7,640|
|||1,129,133|(45,159)|
|Working capital adjustments||||
|Decrease/(increase)
in stocks|14|265|(836)|
|Increase in debtors|15|(49,574)|(66,043)|
|(Decrease) /increase
in creditors|16|34,516|59868|
|Net cash flows from operating
activities||1,045,308|52,170|
|Cash flows from investing
activities||||
|Purchase ofintangible
fixed assets|11|(25,860)||
|Purchase oftangible
fixed assets|12|(3,533)|(2,140)|
|Purchase ofinvestments|13|(974,315)||
|Income from listed investments||2,421|2,191|
|Net cash flows from investing
activities||1,001,287|51|
|Net increase/(decrease)
in cash and cash equivalents||44,021|(52,119)|
|Cash and cash equivalents
at I October||123,062|175,180|
|Cash and cash equivalents
at 30September||167,083|123061|
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|3 Income||from|donations
and|donations
and|donations
and|legacies|||||
|---|---|---|---|---|---|---|---|---|---|---|
||||Unrestricted||||Endowment||||
|||||funds|||funds||||
|||||||Restricted||Total||Total|
|||||General||funds|Expendable|2022||2021|
|||||E||E|E|E||E|
|Donations|and||||||||||
|legacies;|||||||||||
|Donations|from||||||||||
|individuals||||580,695||857,698|91,330|1,529,723||340,615|
|Gift aid|||||||||||
|reclaimed||||20,882||||20,882||8,808|
|Furlough|8r,||||||||||
|other Covid||19|||||||||
|Grant income:|||||||||||
|Grants,|||||||||||
|including|capital||||||||||
|grants||||6,407||133,713||140,120||256,121|
|||||607,984||991,411|91,330|1,690,725||605,544|
|4 Income||from|charitable||activities||||||
|||||||Unrestricted|||||
|||||||funds|||||
||||||||Restricted|Total||Total|
|||||||General|funds|2022||2021|
|||||||S|E|E||E|
|Ticket sales||||||361,435||361,435||216,352|
|Retail, services and||||catering||36,308||36,308||37,106|
|Retail, services and||||catering|||375||375||
|Advertising||income||||9,060||9,060||3,250|
|Creative projects||||||4,238||4|238|4476|
|||||||411,041|375|411,416||261,184|
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||||||Unrestricted|||
|---|---|---|---|---|---|---|---|
||||||funds|||
|||||||Total|Total|
||||||General|2022|2021|
||||||R||R|
|Other income||from fixed asset investments|||2,421|2,421|2,191|
|6 Expenditure
on charitable activities||||||||
||||||Unrestricted|||
||||||funds|||
|||||||Total|Total|
||||||General|2022|2021|
|||||Note|R||R|
|Musical Fees||and Expenses|||587,004|587,004|533,944|
|Festival Sales and Publicity|||||60,304|60,304|60,900|
|Allocated|support costs||||338,641|338,641|321,936|
||||||985,949|985,949|916,780|
|7 Net incoming/outgoing|||resources|||||
|Net incoming/(outgoing)|||resources for|the year|include:|||
|||||||2022|2021|
|||||||R|R|
|Operating|leases - other assets|||||9,120|9,120|
|Audit fees||||||7,140|7,140|
|Depreciation||offixed assets||||4,321|3,993|
|Amorisation||ofintangible|fixed assets|||8,620|900|
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|9 Staffcosts
The aggregate
payroB costs were as follows:|||
|---|---|---|
||2022|2021|
|||R|
|Staff costs during the year were:|||
|Wages and salaries|216,160|219,418|
|Social security costs|13,243|13,531|
|Pension costs|6,899|7,609|
||236,302|240,558|
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|2022||2021|
|---|---|---|
|No||No|
||10||
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|1llntangible
fbred assets|||
|---|---|---|
||Website||
||development|Total|
||R||
|Cost|||
|At 1 October 2021|18,405|18,405|
|Additions|25,860|25,860|
|Disposals|18,405|18,405|
|At 30 September 2022|25860|25,860|
|Amortisation|||
|At 1 October 2021|18,405|18,405|
|Charge for the year|8,620|8,620|
|Eliminated
on disposals|18,405|18,405|
|At 30September 2022|8,620|8,620|
|Net book value|||
|At 30September 2022|17,240|17,240|
|At 30September 2021|||
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|12Tangible fixed assets||||
|---|---|---|---|
||Land and|Office||
||buildings|equipment|Total|
||||R|
|Cost||||
|At 1 October 2021|7,754|74,313|82,067|
|Additions||3,533|3,533|
|Disposals||48 514|48 514|
|At 30 September 2022|7,754|29,332|37,086|
|Depreciation||||
|At 1October 2021|3,101|68,397|71,498|
|Charge for the year|1,551|2,770|4,321|
|Eliminated
on disposals||48,514|48,514|
|At 30 September 2022|4,652|22,653|27,305|
|Net boob value||||
|At 30September 2022|3,102|6,679|9,781|
|At 30 September 2021|4,653|5,916|10569|
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||||2022|2021|
|---|---|---|---|---|
||||S|S|
|Other investments|||1,036,304|66,587|
|Other investments|||||
||||Listed||
||||investments|Total|
||||S|S|
|Cost or Valuation|||||
|At 1 October 2021|||66,587|66,587|
|Revaluation|||[4,598)|(4,598)|
|Additions|||974,315|974315|
|At 30 September 2022|||1,036,304|1,036,304|
|Net book value|||||
|At 30 September 2022|||1,036,304|1,036,304|
|At 30September 2021|||66,587|66587|
|There were no investment||assets outside the UK|||
|14Stock|||||
||||2022|2021|
|Stocks|||1,650|1,915|
|15Debtors|||||
||||2022|2021|
|||||S|
|Trade debtors|||16,166|3,957|
|Prepayments|||104,116|66,751|
||||120,282|70,708|
|16Creditors: amounts|falling due within one year||||
||||2022|2021|
||||S||
|Trade creditors|||4,144|77,847|
|Other taxation and social||security|4,573|4,083|
|Other creditors|||3,135|180|
|Accruals|||72,565|36,824|
||||84,417|118,934|
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|17Creditors: amounts|17Creditors: amounts|falling due after one|falling due after one|year||||
|---|---|---|---|---|---|---|---|
||||||2022||2021|
||||||S||S|
|Other creditors|||||21,122||21,122|
|18Funds||||||||
|||||||Other|Balance at|
||Balance at||||recognised||30|
|||1October
2021
S|Incoming
resources
S|Resources
expended
R|gains/(loss
Transfers
es)
S
S||September
2022
S|
|Unrestricted|funds|||||||
|General||89,633|1,021,446|(985,949)|176,865|(4,597)|297,398|
|Restricted|funds|43,152|991,786||(176,865)||858,073|
|Endowment|funds|||||||
|Expendable|||91,330||||91,330|
|Total funds||132,785|2,104,562|985,949||4,597|1,246,801|
|Restricted|funds|||||||
|Fund name|Capital usage
prior to
1October 2021|Capital usage during
year to 30September|Capital usage during
year to 30September|Bnancial
2022|Carried
forward|
|---|---|---|---|---|---|
|||Worcester|Hereford|Gloucester||
|Griffin|||||kl320,387|
|Rowlands/Messenger|||||S535,311|
|Evans Endowment|nil||||R91,330|
##
|Notes to the Fi|nan|cial S|ta|tements
f|or|the|Year|En|ded|30|Se|ptember 2|022|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||||Other|Balance at|
|Balance at|||||||||||recognised||30|
||1October
2020
S||Incoming
resources
S||Resources
expended
S|||Transfers
S|||gains/(IossSeptember
es)
2021
S
S|||
|Unrestricted
funds||||||||||||||
|General|(39,247)|||640,634||(916,780)|||341,439||||26,046|
|Revaluation
Reserve||55,947||||||||||7,640|63,587|
|Total unrestricted||||||||||||||
|funds||16,700||640,634||(916,780)|||341,439|||7,640|89,633|
|Restricted funds|156,306|||228,285|||||341,439||||43,152|
|Endowment
funds||||||||||||||
|Total funds|173,006|||868,919||916,780||||||7,640|132,785|
|Restricted funds are income received for future||||||festivals. The|||restricted|||funds carried forward||
|at 30September 2021
30 September 2022.|related to||the Hereford||Festival and|||have||been|used in the||year ended|
|19Analysis ofnet assets||between||funds||||||||||
||||Unrestricted|||||||Endowment||||
|||||funds||||||funds||||
|||||||Restricted||||||||
|||||General
S|||funds
S|||Expendable
S
Total funds||||
|Intangible
fixed assets||||17,240|||||||||17,240|
|Tangible
fixed assets||||9,781|||||||||9,781|
|Fixed asset investments||||226,042|||728,299||||81,963||1,036,304|
|Current assets||||149,874|||129,774|||||9,367|289,015|
|Current
liabilities||||(84,417)|||||||||(84,417)|
|Creditors
over 1year||||21,122|||||||||21 122|
|Total net assets||||297,398|||858,073||||91,330||1,246,801|
|20Analysis ofnet funds||||||||||||||
||||||||||||||At 30|
|||||||At|1October
2021|||Cash||September
flow
2022||
||||||||S||||S||S|
|Cash at bank and in hand|||||||123,062|||||44,021|167,083|
|Net debt|||||||123,062|||||44,021|167,083|
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