| CONTENTS | |
|---|---|
| Page | |
| Company Information | 3 |
| Trustees' report | 4−9 |
| Statement of Trustees' responsibilities | 10 |
| Independent auditor's report | 11−13 |
| Statement of financial activities | 14 |
| Balance sheet | 15−16 |
| Statement of cash flows | 17 |
| Notes to the financial statements | 18−29 |
| Unrestricted | Restricted | Total | Total | ||||
|---|---|---|---|---|---|---|---|
| Note | Funds | Funds | Funds | Funds | |||
| 2021 | 2021 | 2021 | 2020 | ||||
| Income and endowments from: | |||||||
| Donations and grants | 3 | 429,725 | 82,700 | 512,425 | 760,132 | ||
| Charitable activities | 4 | 544,535 | − | 544,535 | 59,526 | ||
| Investments | 5 | 24 | 24 | 53 | |||
| Total income and endowments | 974,284 | 82,700 | 1,056,984 | 819,711 | |||
| , | |||||||
| Expenditure on: | |||||||
| Expenditure relating to charitable activities | (995,451) | (44,212) | (1,039,663) | (446,924) | |||
| Total expenditure | |||||||
| Net (outgoing)/incoming resources before | (21,167) | 38,488 | 17,321 | 372,787 | |||
| Corporation tax current year | (13) | ||||||
| − | 372,774 | ||||||
| Net (expenditure)/income for the year! | |||||||
| Net movement in funds | (21,167) | 38,488 | 17,321 | 372,774 | |||
| Fund balances at 1 November 2020 | 324,776 | 24,776 | (47,998) | ||||
| Prior year adjustment for restricted funds | (19,150) | 19,150 | |||||
| • | Fund balances at 31 October 2021 | 284,459 | 57,638 | 342,097 | 324,776 |
| 2021 | 2020 | |||||||
|---|---|---|---|---|---|---|---|---|
| Note | ||||||||
| Fixed assets | ||||||||
| Tangible assets | 11 | 163,324 | 156,574 | |||||
| Investments | 12 | |||||||
| 163,324 | 156,574 | |||||||
| Currentassets | − | |||||||
| Stock | 13. | 1,103 | ||||||
| Debtors Cash at bank and |
in hand | 14 | . •• 86,518 . 228,982 • |
34,808 301,126 |
||||
| 316,603 | 0 | 335,934 | ||||||
| Creditors: amounts falling due within one year | 16 | (83,929) | (95,819) | |||||
| Net current assets | 232,674 | 240,115 | ||||||
| Total assets less | current liabilities | 395,998 | 396,689 | |||||
| Creditors: amounts falling due after more than | ||||||||
| one year | 17 | (53,901) | (71,913) | |||||
| Net assets | 342,097 | 324,776 | ||||||
| • | ||||||||
| Income funds | ||||||||
| Restricted funds | 18 | 57,638 | ||||||
| Unrestricted funds | 284,459 | 324,776 | ||||||
| 342,097 | 324,776 |
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| • | ||||||
| Note | ||||||
| Fixed assets | ||||||
| Tangible assets | 11 | 163,324 | 156,574 | |||
| Investments | 12 | 1 | 1 | |||
| 163,325 | 156,575 | |||||
| Current assets | ||||||
| Stock | 13 | 1,103 | ||||
| Debtors | 14 | 69,295 | 9,990 | |||
| Cash at bank and in hand | 228,806 | 301,125 | ||||
| 299,204 | 311,115 | |||||
| Creditors: amounts falling due within one year | 16 | (66,837) | (71,307) | |||
| Net current assets | 232,367 | 239,808 | ||||
| Total assets less current liabilities | 395,692 | 396,383 | ||||
| Creditors: amounts falling due after more than | ||||||
| one year ' |
17 | (53,901) | (71,913) | |||
| Net assets | 341,791 | 324,470 | ||||
| Income funds | ||||||
| Restricted funds | 18 | 57,638 | ||||
| Unrestricted funds | 284,153 | 324,470 | ||||
| 341,791 | 324,470 |
| 2021 | 2020 | |||||||
|---|---|---|---|---|---|---|---|---|
| Notes | ||||||||
| Cash flows from operating activities | ||||||||
| • | Cash (absorbed by)/generated from operations | 22 | (45,118) | 368,811 | ||||
| Income taxes paid | (12) | |||||||
| Investing activities | ||||||||
| Purchase of tangible fixed assets | (9,038) | (5,454) | ||||||
| Interest received | 24 | 53 | ||||||
| Net cash used in Investing activities | (9,014) | • | (5,401) | |||||
| Financing activities | ||||||||
| Repayment of directors' loans | (13,000) | |||||||
| Repayment of other loans | (18,012) | • | (61,912) | |||||
| Net cash used in financing activities | (18,012) | (74,912) | ||||||
| Net (decrease)/increase in cash and cash | ||||||||
| equivalents | (72,144) | 288,486 | ||||||
| Cash and cash equivalents at beginning of year | 301,126 | 12,640 | ||||||
| Cash and cash equivalents at end of year | 228,982 | • | 301,126 |
| Unrestricted | Restricted | Total | Unrestricted | |||
|---|---|---|---|---|---|---|
| funds | funds | funds | ||||
| 2021 | 2021 | 2021 | 2020 | |||
| C | ||||||
| Donations and gifts | 208,644 | 19,450 | 228,094 | 451,495 | ||
| Legacies receivable | 53,750 | 53,750 | ||||
| Public sector grants | 221,081 | 3,000 | 224,081 | 308,637 | ||
| Membership fees | 6,500 | 6,500 | ||||
| 429,725 | 82,700 | 512,425 | 760,132 | |||
| Donations and gifts | ||||||
| • | Various Trusts and Foundations | 53,750 | 53,750 | 47,800 | ||
| Appeal 40 | 1,082 | |||||
| Gift Aid | 9,740 | 9,740 | 33,816 | |||
| Sundry Donations | 53,222 | 19,450 | 72,672 | 214,608 | ||
| Friends of Buxton International Festival | 95,000 | 95,000 | 110,000 | |||
| Buxton Festival Foundation | 372 | 372 | 1,428 | |||
| Buxton Festival Productions Limited | 48,799 | 48,799 | 40,761 | |||
| Orchestras Live | 2,000 | |||||
| Outreach | 1,511 | 1,511 | ||||
| Membership fees | 6,500 | 6,500 | ||||
| 208,644 | 79,700 | 288,44 | 451,495 | |||
| Grants receivable for core activities | ||||||
| Arts Council England | 167,397 | •167,397 | 276,914 | |||
| High Peak Borough Council | 40,000 | 40,000 | 25,000 | |||
| •Derbyshire County Council | 5,723 | 5,723 | 6,723 | |||
| ERDF | 3,000 | 3,000 | ||||
| Orchestras live | 7,961 | 7,961 | ||||
| 221,081 | 3,000 | 224,081 | 308,637 |
| Sponsorship | Job | Festival | Total | **Sponsorship ** | **Job ** | retention | Festival | Total | ||
|---|---|---|---|---|---|---|---|---|---|---|
| & | retention | income | 2021 | & advertising | scheme | income | 2020 | |||
| advertising | scheme | |||||||||
| 2021 | 2021 | 2021 | 2020 | 2020 | 2020 | |||||
| Other | income | • . 23,508 |
.10,006 | 511,021 | 5.44,535 | 6,050 | . | 51,138 | •2,338 | 59,526 |
| **Unrestricted ** | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2021 | 2020 | ||
| Interest | receivable | 24 | 53 |
| Group | Charity | Group | Charity | ||
|---|---|---|---|---|---|
| 2021 | 2021 | 2020 | 2020 | ||
| £ | |||||
| Support costs and | (see note 7) | ||||
| governance costs | 360,572 | 360,572 | 233,142 | 233,142 | |
| •Festival costs | 679,091 | 123,748 | 213,782 | 3,063 | |
| Production commission fee | 545,337 | 194,500 | |||
| 1,039,663 | 1,029,657 | 446,924 | 430,705 | ||
| 1,039,663 | 1,029,657 | 446,924. | 430,705 | ||
| Analysis by fund | |||||
| Unrestricted funds | 995,451 | 985,445 | 446,924 | 430,705 | |
| Restricted funds | 44,212 | 44,212 | |||
| 1,039,663 | 1,029,657 | 446,924 | 430,705 |
| Support costs | ||||||
|---|---|---|---|---|---|---|
| Support Governance | 2021 | **Support ** | Governance | 2020 | ||
| costs | costs | costs | costs | |||
| Staff costs | 207,229 | 207,229 | 145,632 | 145,632 | ||
| Depreciation | 2,288 | 2,288 | 2,425 | 2,425 | ||
| Contractors fees | 37,168 | 37,168 | 34,703 | 34,703 | ||
| Marketing costs | 74,498 | 74,498 | 25,350 | 25,350 | ||
| IT maintenance | 9,122 | 9,122 | 2,043 | 2,043 | ||
| Telephone | 2,431 | 2,431 | 380 | 380 | ||
| Rates | 2,132 | 2,132 | .. | |||
| Staff travelling | 5,754 | 5,754 | 2,479 | 2,479 | ||
| Postage & stationery | 3,942 | − | 3,942 | 801 | 801 | |
| Sundries | 8,050 | 8,050 | 10,129 | 10,129 | ||
| Auditors fees' | 5,538 | 5,538 | 5,000 | 5,000 | ||
| Recruitment expenses | 364 | − | 364 | |||
| Interest payable | 793 | 793 | 1,334 | 1,334 | ||
| Bank charges | 1,627 | 1,627 | 2,502 | 2,502 | ||
| 355,034 | 5,538 | 360,572 | 228,142 | 5,000 | 233,142 | |
| Net movement in funds | 2021 | 2020 | ||||
| Net movement in funds is stated after charging/(crediting) | ||||||
| Fees payable to the company's auditor for the | audit of the company's | financial | ||||
| statements | 5,538 | 5,000 | ||||
| Depreciation of owned tangible fixed assets | 2,288 | 2,425 |
| 2021 | 2020 | ||
|---|---|---|---|
| Number | Number | ||
| Full−time | equivalent−Admin | 5 | 4 |
| Employment costs | 2021 | 2020 | ||
|---|---|---|---|---|
| Wages and salaries | 188,590 | 124,844 | ||
| Social security costs | 13,245 | 15,389 | ||
| Other pension costs | 5,394 | 5,399 | ||
| 207,229 | 145,632 | |||
| The number of employees whose annual remuneration was £60,000 or more | ||||
| were: | ||||
| 2021 | 2020 | |||
| Number | Number | |||
| 1 | 1 | |||
| 11 | Tangible fixed assets (Charity& Group) | |||
| Leasehold | Computers & | Total | ||
| land and | equipment | |||
| buildings | ||||
| Cost or valuation | ||||
| At 1 November 2020 | 196,436 | 49,155 | 245,591 | |
| Additions | 9,038 | 9,038 | ||
| Disposals | (35,604) | (35,604) | ||
| At 31 October 2021 | 196,436 | 22,589 | 219,025 | |
| Depreciation and impairment | ||||
| At 1 November 2020 | 46,436 | 42,581 | 89,017 | |
| Depreciation charged in the year | − | 2,288 | 2,288 | |
| Eliminated in respect of disposals | (35,604) | (35,604) | ||
| At 31 October 2021 | 46,436 | 9,265 | 55,701 | |
| Carrying amount | ||||
| At 31 October 2021 | 150,000 | 13,324 | 163,324 | |
| At 31 October 2020 | 150,000 | 6,574 | 156,574 | |
| •=11.1.•=1. |
| Other | ||||
|---|---|---|---|---|
| investments | ||||
| Charity | ||||
| Cost or valuation | ||||
| At 1 November 2020 & 31 October 2021 | ||||
| Carrying amount | ||||
| At 31 October 2021 | ||||
| At 31 October 2020 | 1 | |||
| 2021 | 2020 | |||
| Charity | Charity | |||
| Other investments comprise: | Notes | |||
| Investments in subsidiaries | 21 | |||
| 13 | Stocks | |||
| 2021 | 2020 | |||
| Charity | Charity | |||
| Finished goods and goods for resale | 1,103 |
| Group | Charity | Group | Charity | |
|---|---|---|---|---|
| 2021 | 2021 | 2020 | 2020 | |
| £ | £ | £ | £ | |
| Trade debtors | 5,572 | 5,572 | 3,549 | 3,549 |
| Amounts due from subsidiary undertakings | − | 38,402 | 2,105 | |
| Other debtors | 50,080 | 1,204 | 27,588 | 665 |
| Prepayments and accrued income | 30,866 | 24,117 | 3,671 | 3,671. |
| 86,518 | 69,295 | 34,808 | 9,990 |
| 2021 | 2020 | |
|---|---|---|
| Charity | Charity | |
| Other loans | 71,313 | 89,325 |
| 1=1.•=1..1 | An= | |
| Payable within one year | 17,412 | 17,412 |
| Payable after one year | 53,901 | 71,913 |
| 161.122•1116M | 611•1902•72311 |
| Group | Charity | Group | Charity | ||
|---|---|---|---|---|---|
| 2021 | 2021 | 2020 | 2020 | ||
| Notes | £ | £ | £ | £ | |
| Other loans | 15 | 17,412 | 17,412 | 17,412 | 17,412 |
| Other taxation and social security | 7,924 | 7,911 | 13 | 5,403 | |
| Trade creditors | 20,943 | 10,707 | 4,236 | 510 | |
| Other creditors | 3,304 | 3,304 | 63,837 | 37,661 | |
| Accruals | 34,346 | 27,503 | 10,321 | 10,321 | |
| 83,929 | 66,837 | 95,819 | 71,307 |
| 2021 | 2020 | |||
|---|---|---|---|---|
| Charity | Charity | |||
| Notes | ||||
| Other | loans | 15 | 53,901 | 71,913 |
| Movement in funds | Movement in funds | Movement in funds | |||
|---|---|---|---|---|---|
| Incoming | Resources | Opening | Balance at | ||
| resources | expended | balance at 01 | 31 October | ||
| November | 2021 | ||||
| • | 2020 | ||||
| Literary Series | 6,500 | (6,500) | |||
| Music Series | 3,787 | (1,287) | 2,500 | ||
| A Little Night Music | 18,400 | (18,400) | |||
| Oratorio | 2,000 | 14,000 | 16,000 | ||
| Donna De Lago | 6,500 | − | 6,500 | ||
| Young Artists Program | 19,963 | (13,325) | 5,000 | −11,638 | |
| Young Instrumentalists Program | 5,000 | 5,000 | |||
| Platform 3 | 10,000 | 10,000 | |||
| Outreach | 500 | (500) | |||
| BIF Digital | 3,000 | (3,000) | |||
| April In Your Eyes | 6,000 | 6,000 | |||
| Costumes | 1,000 | (1,000) | |||
| Other | 50 | (200) | 150 | ||
| 82,700 | (44,212) | 19,150 | 57,638 |
| Analysis of net assets between funds | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | **Total ** | Unrestricted | |
| funds | funds | funds | ||
| 2021 | 2021 | 2021 | 2020 | |
| Fund balances at 31 October 2021 are | ||||
| represented by: | ||||
| Tangible assets | 163,324 | 163,324 | 156,574 | |
| Current assets/(liabilities) | 175,036 | 57,638 | 232,674 | 240,115 |
| Long term liabilities | (53,901) | (53,901) | (71,913) | |
| 284,459 | 57,638 | 342,097 | 324,776 | |
| IMICCAI=LCMCILMLICE |
| Name of undertaking | Registered | **Nature of ** | business | •Class of | % Held | ||
|---|---|---|---|---|---|---|---|
| office | shares held | Direct Indirect | |||||
| • | |||||||
| Buxton Festival Productions | England and | Production | management | Direct | 100.00 | ||
| Limited | Wales | ||||||
| Name of undertaking | Profit/(Loss) | • | Capital and reserves | ||||
| •Buxton Festival Productions | Limited | •307 |
| 22 | Cash generated from operations | 2021 | 2020 | |
|---|---|---|---|---|
| Surplus for the year | 17,321 | 372,774 | ||
| Adjustments for: | ||||
| Investment income recognised in statement of financial activities | (24) | (53) | ||
| Depreciation and impairment of tangible fixed assets | 2,288 | 2,425 | ||
| Taxation charged | 13 | |||
| Movements in working capital: | ||||
| (Increase) in stocks | (1,103) | |||
| (Increase)/decrease in debtors | (51,710) | 143,906 | ||
| Increase/(Decrease) in creditors | (11,890) | (150,254) | ||
| Cash (absorbed by)/generated from operations | (45,118) | 368,811 | ||
| 23 | Analysis of changes in net funds | |||
| At 1 November | Cash flows | At 31 October | ||
| 2020 | 2021 | |||
| Cash at bank and in hand | 301,126 | (72,144) | 228,982 | |
| Loans falling due within one year | (17,412) | (17,412) | ||
| Loans falling due after more than one year | (71,913) | 18,012 | (53,901) | |
| 211,801 | (54,132) | 157,669 | ||
| •=1.1==e611.11. |