2024-03-31-accounts - Cirencester (Street) Market

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– Cirencester (Street) Market Charity Number 285116

Cirencester (Street) Market–Charity Number 285116	Cirencester (Street) Market–Charity Number 285116	Cirencester (Street) Market–Charity Number 285116	Cirencester (Street) Market–Charity Number 285116	Cirencester (Street) Market–Charity Number 285116	Cirencester (Street) Market–Charity Number 285116	Cirencester (Street) Market–Charity Number 285116	Cirencester (Street) Market–Charity Number 285116	Cirencester (Street) Market–Charity Number 285116	Cirencester (Street) Market–Charity Number 285116	Cirencester (Street) Market–Charity Number 285116	Cirencester (Street) Market–Charity Number 285116	Cirencester (Street) Market–Charity Number 285116	Cirencester (Street) Market–Charity Number 285116

				Trustees'		Annual Report for the Period
From	Period start date						To	Period end date
	Day	01	Month	04	Year	2023		Day	31	Month	03	Year	2024

Section A – Reference & Administration Details

1.1. The Cirencester (Street) Market is a registered charity (Charity Registration No. 285116) under the sole Trusteeship of Cirencester Town Council, Bingham House, 1 Dyer Street, Cirencester Glos. GL7 2PP.

Names of the charity trustees who manage the charity

Section A–Reference & Administration Details 1.1. The Cirencester (Street) Market is a registered charity (Charity Registration No. 285116) under the sole Trusteeship of Cirencester Town Council, Bingham House, 1 Dyer Street, Cirencester Glos. GL7 2PP.	Section A–Reference & Administration Details 1.1. The Cirencester (Street) Market is a registered charity (Charity Registration No. 285116) under the sole Trusteeship of Cirencester Town Council, Bingham House, 1 Dyer Street, Cirencester Glos. GL7 2PP.
Names of the charity trustees who manage the charity
Trustee name	Dates acted
Cirencester Town Council	01/04/23 – 31/03/24

Section B – Structure, Governance & Management

2.1. The markets incorporated within this charity are the Monday and Friday Charter Markets which provide a choice of goods under the provision of its historic Charter.
2.2. The charity is constituted as a Trust and is governed by a Bargain & Sale document dated 1961 and historic Charter with associated Market Rights. Cirencester Town Council acts as sole Trustee for the charity and trustees are selected on election as Town Councillors.
2.3. Whilst acting as sole trustee there is a direct link with the Town Council in respect of its charitable purpose in the relief of local council tax.
2.4. Cirencester Town Council is listed as the corporate trustee and individual councilors names will not be listed separately.

Section C – Objectives & Activities

3.1. The charity’s objective is to provide street markets offering a selection of produce, goods and services with the aim of generating income and to apply any surplus income to benefit residents of Cirencester by providing relief to Council Tax.
3.2. In the reporting period, in keeping with the charitable aim of the Trust, £22,241 was provided as relief of Council Tax benefitting the local community, a slight decrease of £3,553 from 2022-23.

Section D – Achievements and Performance

4.1. In the reporting period, a total of 97(-1[1] ) Charter Markets were held, out of a possible 99[2] opportunities, representing a 98% (+3) opening rate. There were 46 (+/-) Monday markets and 51 (-1) Friday markets.
4.2. In addition to the anticipated closures for the Mop Fairs and Christmas, scheduled markets did not

1 Movement from previous year.

2 Does not include 2x Mop Fairs, 3x Christmas closures

Page 1 of 3 Report prepared by Becky Coles, Community Services Manager, September 2023

take place on 2 occasions, as detailed below:

Monday 9[th] October 2023: Mop Fair (1x Monday Market Closure)
Monday 16[th] October 2023: Mop Fair (1x Monday Market Closure)
Monday 13[th] November 2023: Bad weather - high winds (1x Monday Market Closure)
Monday 25th December 2023: Christmas Closure (1x Monday Market Closure)
Friday 29th December 2023: Christmas Closure (1x Friday Market Closure)
Monday 1[st] January 2024: Christmas Closure (1x Monday Market Closure)
Monday 26[th] February 2024: Bad weather - high winds (1x Monday Market Closure)
4.3. The overall average number of stalls trading at the Markets in the reporting period was 41 (-2). At the Monday market, the average was 35 (-6) and 47 (+/-) at the Friday market.
4.4. 100% of the markets attracted category 2 or 3 fees; none of the markets held had less than 20 stalls. 56 (58%) of the markets held included over 40 stalls and were charged at the higher licence fee and 41(42%) included stalls between 21 and 40 in number. All the smaller markets were held on a Monday.
4.5. The Monday Charter Market has improved in previous years, and appears to have stabilised this year with lower stall numbers than Fridays; the poor weather has not helped, with the worst of which predominantly affected Mondays.
4.6. The variety of traders at both markets is wide ranging and there remains a commitment to encourage and support local traders, suppliers and businesses. As well further additions to the street food offering, traders selling homewares, household products, clothing, local produce, gifts and goods as well as environmental wares were added to the trading mix in the reporting period.

The Market is actively promoted via social media, using mainly Facebook & Instagram, Cirencester Town Council’s website, local listings and printed media.

Each monthly edition of Ciren Scene carries a joint Cirencester Markets advertisement which includes details of the indoor markets in the Corn Hall. Advertising costs are split between the Corn Hall, Charter Market Operator and the Town Council, with the design work being carried out by the Community Services Team.

The advertisement is also circulated in both print and electronic form via social media, noticeboards, community groups, local businesses such as hotels, campsites, retailers, pubs etc.

Cirencester Markets also feature in the ‘Welcome to Gloucestershire’ Guide and the Town Council’s Cirencester Town Guide.

The social media insights for each platform are detailed below:

Platform	Followers	Movement from lastyear
Facebook	7,564	+824
Instagram	3,226	+319
X(PreviouslyTwitter)	2,629	-6

4.7. The Markets feature on Trip Advisor and Google Business and reviews are often received. Google is by far the most popular method of searching for and reviewing Cirencester Markets and has around 19,000 views each month. Cirencester Markets has a rating of 4/5 (+0.5) on Trip Advisor (12 reviews) and 4.6 on Google Business (150 written reviews (+14).
4.8. Further data and performance information can be found at Annex A.

Section E – Financial Review

5.1. In accordance with its charity status Cirencester (Street) Market is required to submit income and expenditure information to the Charity Commission on an annual basis.

Page 2 of 3 Report prepared by Becky Coles, Community Services Manager, July 2023

5.2. In accoidance with the Chariiy Commission's annual return requiremenis. income and expenditure information relating to 2023-24 is outlined on the following page lor formal approval by Trusls. 202>24 IncoN & IncLYne Trdire 202>24 2022-23 Charter Markw LKence Fee £27.050 £29.150 Category I Category 2 Category 3 Upto20 21-40 40+ £2t>D £250 £300 TOTAL. EXPlIU 202>24 2022-23 Business Rates Equiprnenf Puichased Market Management Promotion & Publicity Services IEIKtrKity} Subscriptions & LKences Training IF)dustry Member Fee5 Relief to Council Tax 172 1.058 491 100 291 RetAacemtht power box 35 1.310 143 893 i5e LKerKe & Sireei Trading consent. NABMA Pur Guxje & Caryva Subscri t10tIS. r4ABMA .625 1.484 25.794 £29.150 22.42 1 £27.050 TOTAL. 6. Section F- 6.1. Subj-ect to the app(la1 of the Trust. the financTral infomiation iequireLI by the Charity (OmmiSSKbn will be submitted thin l O months ol the end of the financial year (by 31° January 20251. 7. Section G- Declar ion Signature(s) Full name151 SALA O£< Position le.g. Secret8ry, ChaÉr. etc.) Date Page3of3 nity Serviies Manager, Jiily 2023 iepaied by Becky Coles. C

ANNEX A

Number of Markets 01/04/23 - 31/03/24

	QTR 1 (Apr - Jun)	QTR 1 (Apr - Jun)	QTR 2 (Jul - Sep)	QTR 2 (Jul - Sep)	QTR 3 (Oct - Dec)	QTR 3 (Oct - Dec)	QTR 4 (Jan - Mar)	QTR 4 (Jan - Mar)	2023-24	2023-24
	Expected	Actual	Expected	Actual	Expected*	Actual	Expected*	Actual	Expected	Actual
Monday Charter	13	13	13	13	10	9	12	11	48	46
Friday Charter	13	13	13	13	12	12	13	13	51	51

GRAND TOTAL	26	26	26	26	22	21	25	24	99	97
VARIANCE		0		0		-1		-1		-2

E* xcl. Mop Excl.* Xmas Fairs (x2) (x3)

Income Plan 01/04/23 - 31/03/24

	QTR 1 (Apr - Jun)	QTR 1 (Apr - Jun)	QTR 2 (Jul - Sep)	QTR 2 (Jul - Sep)	QTR 3 (Oct - Dec)	QTR 3 (Oct - Dec)	QTR 4 (Jan - Mar)	QTR 4 (Jan - Mar)	2023-24	2023-24
	Expected	Actual	Expected	Actual	Expected	Actual	Expected	Actual	Expected	Actual
Monday Charter	3,250 £	3,500 £	3,250 £	3,250 £	2,500 £	2,250 £	3,000 £	2,750 £	12,000 £	11,750 £
Friday Charter	3,900 £	3,900 £	3,900 £	3,900 £	3,600 £	3,600 £	3,900 £	3,900 £	15,300 £	15,300 £

GRAND TOTAL	7,150 £	7,400 £	7,150 £	7,150 £	6,100 £	5,850 £	6,900 £	6,650 £	27,300 £	27,050 £
INCOME VARIANCE		250 £		- £		250 -£		250 -£		250 -£

NB: Expected income calculated on the follow basis: Monday - Category 2 - (21-40 stalls) @ £250 per market , Friday - Category 3 - (40+ stalls) @ £300 per market

Cancellations/Changes to Charter Markets

Monday 09/10/23 - Mop Fair Monday 16/10/23 - Mop Fair Monday 13/11/23 - Bad Weather Monday 25/12/23 - Christmas Closure Monday 29/12/23 - Christmas Closure Monday 01/01/24 - Christmas Closure Monday 26/02/24 - Bad Weather	1 1 1 1 1 1 1
	7

Page 1 of 5

Annex A

Cirencester (Street) Market Income & Expenditure

----- Start of picture text -----
£35,000
£30,000
£25,000
£20,000
£15,000
£10,000
£5,000
£-
2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24
Income Expenditure
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Page 2 of 5

Annex A

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Expenditure Analysis 2012 -2024
£45,000
£40,000
£35,000
£30,000
£25,000
£20,000
£15,000
£10,000
£5,000
£-
2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24
Business Rates Services (Electricity) Market Management Promotion & Publicity
Industry Member Fees General Maintenance Relief to Council Tax
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Page 3 of 5

Annex A

Total Annual Stall Numbers

----- Start of picture text -----
5,000
4,500
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
0
2018-19 2019-20 2020-21 2021-22 2022-23 2023-24
Annual Stall Numbers Mon 1,016 1,005 869 1,878 1,978 1,623
Annual Stall Numbers Fri 2,403 2,318 1,555 2,306 2,458 2,384
Annual Stall Numbers All 3,419 3,323 2,424 4,184 4,436 4,007
Annual Stall Numbers Mon Annual Stall Numbers Fri Annual Stall Numbers All
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Page 4 of 5

Annex A

Average Stall Numbers by Market

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50
45
40
35
30
25
20
15
10
5
0
2018-19 2019-20 2020-21 2021-22 2022-23 2023-24
Annual Stall Numbers Mon 21 22 31 42 43 35
Annual Stall Numbers Fri 47 46 36 46 47 47
Annual Stall Numbers All 34 35 34 41 43 41
Annual Stall Numbers Mon Annual Stall Numbers Fri Annual Stall Numbers All
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Page 5 of 5

	2023124	2022123
	€	f
CharterMarketLicenceFeelncome	27,050	29,150
Totalincome	27,05O	29,L50
Expenditure
Business Rates	172	384
EquipmentPurchased	1,058
Market Management	491	35
Services(Electricity)	291	L43
PromotionandPublicity	100	1,310
lndustry MemberFees		1,484
SubscriptionsandLicences	893
Training	t,625
RelieftoCounciltax-payers	22,420	25,794
TotalPayments	27,O5O	29,LSO