Company Registration Number- 00995728 The Charity Registration Number is :_ 500687 STOKE-ON-TRENT FESTIVAL LIMITED Trustees Annual Report and Accounts Year Ended 30 June 2024
STOKE-ON-TRENT FESTIVAL LIMITED Report and accounts for the year ended 30 June 2024 Contents Page Income and Expenditure account Balance Sheet Notes to the account8 Independent Accountant's Roport
STOKE-ON-TRENT FESTIVAL LIMITED statement of Financial Activities for the year ended 30 June 2024 SORP Ref Currènt year Unre5trictsd Fund Current year Restricted Funds Current year Endowment Fund5 Current y•ar Total Fund5 Prior Year Total Funds 2024 2024 2024 2024 2023 Income In¢ome & Endowments from: Donations and legacies Charitable a¢livilies Other trading activities Investments Separale malerial item of Inwme Other S01 161.167 97.592 161.167 97,592 122,468 105,017 S02 S03 S04 3,800 228 S05 S06 Totsl incom8 S07 262,559 262,559 227.713 Expenditure Expendltura on: Raising funds Charitable aclivilles Separate material expense item Other S08 S09 S10 246.403 246,403 242,377 S11 Total expondlture S12 246,403 246,403 242,377 Net Ineomel{expènditurèl before tax for the reportlng perfod S13 16,156 16,156 114,664) Tax payable N81 Incomellexpenditure) after tax before investment gainslllosses) S14 S15 Nel gainsl{losses) on investrnents S16 Net Incomel(expendlturel Extraordinary Items Transfors botween funds Other recognlsed galnsl{108ses) Gains and10s$8s on revaluation of fixed asselsfor the charity's use Other gainsl(losses) Net movement In funds S17 16.156 16.156 (14,6641 S18 S19 S20 S21 S22 16.156 16,156 (14,664) Reconclllatlon of funds:. Total funds brought forward S23 72,713 72,713 87.377 Total funds carrled forward S24 88,869 88,869 72.713
STOKE-ON-TRENT FESTIVAL LIMITED Balance Sheet as at 30June 2024 SORP Notes Ref 2024 2023 Flxed assets Intangible assets Tangible assets Heritage assets Investments held as fixed assets Social inveslrnenls Total fixed assets A1 A3 A4 Curr8nt assets Stocks Debtors B1 B2 62.947 18,767 Investments held as cuffent assets Cash at bank and in hand Total current assets Creditors: amounts fallirtg due within one year B3 B4 148.793 211,740 207,683 226,450 C1 (122,871) {153,737) Net current assets 88.869 72.713 Creditors: amounts falling due after more than one year Provisions for contingent assets Net assets C2 C3 88,869 72,713 Defined benefit pension scheme assets The total net assets of the charlty 88,869 72,713 The total net assots of the charlty are funded by the funds of tho charity, as follows:_ Details of Restrlcted fund8 Restricted Revenue Funds Restrlcled Fixed Assel Funds Restricted Revaluation Reserve 25,000 25.000 D2 D4 25.000 25.000 Unrestrfcted Funds Called up share capital Share premium Unrestricted Revenue Funds D3 63.869 47,713 Unrestricted Revaluation Reserve 63,869 47,713 Designated Funds Designated Revenue Funds Designaled Fixed Asset Funds D3 D3 Penslon reserve D5 Total charity funds 88.869 72.713
The company was entitled to exemption from audit under s477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP. Date of approval ddlmmlyyy Signed by one or two Irusteesldirectors on behalf of all the trusteesldirectors Print Name 24/45 3 ate ddlmmlyyy Slgnature of director authenticating accounts being sent to Companies House Signature 112> Print nama
STOKE-ON-TRENT FESTIVAL LIMITED Notes for the year ended 30th June 2024 1 Accounting policies Policies relatlng to the production of the accounts. Basls of preparatlon and accountlng conventlon The accounts have been prepad on the accruals basi8, under the historical cost convention. and in accordance with the Financial Reporting Standard 102, (effective 1 st January 2016) and FRS 102 SORP (Statement of Recommended Practice forAccounting and Reporknng by Charilies) 2015 (as amended by the Bulletin issued in February 2016) published by the Charity Commission in England & Wales (CCEW) .effective January 2016, (The SORP}. and in accordance wilh all applicabl8 law In thé charity's jurisdictÉon of registration. excepi that the charity has prepared thé financlal st8temènts in accordance with the FFIS 102 SORP {Staiement of Recommended Practice for Accounting and Reporting by Charilies) 2015 (as amended by the Bulletin Issued In February 2016) in preferonce lo Ihe previous SORP, the SORP 2005. whlch has been wlthdrawn. nOlthstandIng the fact Ihal the extant statutory regulations. th8 Charities (Accounts and Reports) Regulalions 2008 refer expllcitly to the SORP 2005. This has been done to a¢¢ord wtth current best pr8Cti¢e. 2 Llability to taxation The Trustees consider that the charity satisfies the tests set oul in Paragraph 1 Schedule 6 of the Finance Act 2010 for UK corporation tax Purposes. Accordingly, the Charily is potentially exempt from taxation in respect of income or capltal gains recelved wlthin cal8gorl8s covered by chapt8r 3 part 11 of th8 Corporatlon Tax Act 2010 or Sactlon 256 of th8 Taxatlon of Chargeabla Gains Acl 1992. to the extenl that such income or gains are applled èxcluslvèly on tha spacific charStabl8 objects of the charity and for no olher purpose. Value Added Tax is not recoverable by the charSly, and is th8refore included in the relevant costs in the Stst8ment of Financial Activities. 3 Wlndlng up or dlssolutlon of the charlty If upon wlndlng up or dlssolution of the Charity there remain any assets, after Ihe satisfa¢iion of all debts and Ilablllties, ihe assets represenled by the accumulated fund shall be transferred to some other chariiable body or bodies having 5irnilar objects to the charity. 4 Staff costs and emoluments Numbers of full tlme employees or full time equlvalents 2024 2023 The average number of toial staff employed in th8 year was The average number of part tlme staff employed in the year was The average number of full time staff employed in the year was The estimated full time equivalent number of all staff employed in the year was The estlmated equlvalent number of full tlme staff deployed In dlfferent actlvltles In the year was... Engaged on charitsble activities Engaged on publlcity activities Engaged on fundraising activltles Engaged on management and administration The estlmated full time equlvalent number of all staff employed as above 5 Debtors 2024 2023 Debtor8 18,767 6 Creditors: amounts falling due wlthin one year 2024 2023 Credilors 153,737
STOKE-ON-TRENT FESTIVAL LIMITED Detailed analysis of income and expenditure for the year ended 30 June 2024 as required by the SORP This analysis is classif led by conventional nominal descriptions and not by activity. 7 Donations and Legacies Current year Current year Current year Prlor year Unrestricted Restricted Total Total Fvnd5 Funds Funds Funds 2024 2024 2024 2023 Revenue grants from government and public bodies Arts Council Stoke-on-Trent Clty Councll Total publlc sector revenue grants 45,000 18,000 63,000 45,000 18,OOQ 63.000 20,000 6,750 26,750 Revenue grants and donatlons from non publlc bodles Harding Trust Donations 80,000 80,0(X) 75,000 I,ioo 3,000 79,100 H Gibson Total Private sector revenue 8rants 3,000 83,000 3,0 83,000 Membership subscriptions as donatlons Repayments Repayments Total Repaymentg Patrons & Glft Ald Patrons Gift Aid Total Glft Ald 7,475 7,692 15,167 7,475 7,692 15,167 7,800 8,818 16,618 Totsl Donations and Legacles (SOI) 161,167 161,167 122,468 8 Income from charitable activities- Trading Activities Current Current year Restrf¢ted Current year Total Prlor yèar Unrestricted Funds Funds Funds Fund5 2024 2024 2024 2023 Primary purpose and ancillary tradlng Ticket Sales Total Primary purpose and anclllary trading 97,592 97,592 97,592 97,592 105,017 105,017 9 Total Income from charitable activities Current year Curfefttyear Current year Prlor yeaf Unrestrirted Restrkted Total Total Funds Funds Funds Funds 2024 2024 2024 2023 Total income from charitable trading Total from charitable activities 1502)
STOKE-ON-TRENT FESTIVAL LIMITED th Detailed analysis of income and expendÈture forthe year ended 30 June 2024 as required by the SORP 2015 10 Investment income Currentyear Current year Current year Total Prior year Unrestrtted estricted Total Funds Funds Funds Funds 2024 2024 2024 2023 Bank Interest Receivable Total Investment income S04 3,800 3,800 3,800 3,800 23 23 11 Support costs for charitable activities Ctsrrent year Current year Cwrent year Prlor year Total Unresirirted Restricted Total Funds Funds Funds Funds 2024 2024 2024 2023 Volunteer costs Volunteers, expenses Administrative overheads Telephone, fax and internet 2,530 Postage 3,165 Software licences and expense5 7,657 Advertising and marketing 60,965 Sundry expenses 1,734 Administration 12,875 Professional fees pald to advlsors other than the auditor or examiner Professional Charges 3.150 Flnancial costs Credit card charges Bank charges Support costs before reallocation Less support costs reallocated to specific artivities To Costs of raising funds 5,433 5,433 2,766 2,530 3,165 7,657 60,965 1,734 12,875 2,292 4,855 3,772 60,938 847 12,000 3,150 3,206 4,383 277 102,169 4,383 277 102,169 3,942 296 94,914 1102,169) 102,169 (94,9141 The basis of allocation of costs between activities is described under accounting policies 12 Expenditure on raising funds and costs of investment management cUrrttYear Curfent year Current year Prioryear Total Unrestritted Restricted Total Funds Funds Funds Funds 2024 2024 2024 2023 Commissions payable Cost of fundraising activities Reallocated from support costs Total fundraising costs (S09) 13,398 130.836 102,169 246,403 13,398 130,836 102,169 246,403 10,719 126,989 94,914 232,622
Independent Examiner's Report to the Trustees of Stoke-on-Trent Festival Ltd for the period ended 30th June 2024 I report on the accounts of the Charity. Respective responsibilities of Trustees and examiner The Charity's Trustees are responsible for the preparation of the accounts. The Charity'5 Trustees consider that an audit is not required for this year under section 144(21 of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibility to: examine the accounts under section 145 of the 2011 Act. follow the procedures laid down in the general directions given by the Charity Commissioners Under Section 14515llbl of the 2011 Act; and state whether particular matters have come to my attention. Basls of Independent examlnerfs report My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view, and the report is limited to those matters set out in the statement below. Independent examlnerfs statement In connection with my examination, no matter has come to my attention. l. Which gives me reasonable cause to believe that in any material respect the requirements: to keep accounting records in accordance with settion 130 of the 2011 Act; and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act. Have not been met; or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to b reached. Signed........... Glen BE, ACPA Glenn Par es&CoLtd The Manse Temple Street Stoke-on-Trent ST44NW ar
STOKE-ON-TRENT FESTIVAL LIMITED Company Registration Number- 00995728 Trustees. Annual Report for the year ended 30th June 2024 th The Trustees present their Report and Accounts for the year ended 30 June 2024, which also comprises the Directors, Report required by the Companie5 Act 2LKI6. Reference and admlnlstrative details The charity name. The legal name of the charity is:_ sfoKE-ON-TRENT FESfivAL LIMITED The charity is also known by its operating name, STOKE-ON-TRENT FESTIVAL The charl5 areas operation and UK charitoble registration. The charity is registered in England & Wales with the Charity Cornmission in England & Wales ICCEWI with charity number 500687. Legal structure of the charity The governing document of the charity is the Memorandum and Articles of Assoclatlon establishing the company under company legislation. By operation of law all tru5tee5 are directors under the Companies Act 2006 and all directors are trustees under Charities Segislation and have responsibilities, as such, under both company and charity legislation. Objects and activitie5 of the charlty The purpose OA the charity as set out in its goveming document. TO FOSTER AND PROMOTE THE KNOWLEDGE, UNDERSTANDING AND APPRECIATION OF THE ARTS AMONG THE INHABITANTS OF STOKE-ON-TRENT AND THE SURROUNDING AREA. Method of preparatlon of accounts- Small company provisions The financial statements have been prepared implementing the FRS SORP (Statement of Recommended Practice for Accounting and Reporting by Charities} 2015 {as amended by the Bulletin issued in February 20161 and in accordance with the Financial Reporting Standard 102, (effective I, January 2016) These financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006, applicable to companies Subject to the small companies regime.
STOKE-ON-TRENT FESTIVAL LIMITED Company Registration Number- 00995728 th Trustees, Annual Report for the year ended 30 June 2024 The principal operating address and telephone number of the charity are: 415 PICCADILLY ARCADE HANLEY, STOKE-ON-TRENT STAFFORDSHIRE, STII IDL The registered office of the charity for Companie5 Act purpose5 15 the same a5 the operating addres5 shown above 01782 206000 The Trustee5 In office on the date the report was approved were: C F SMART M N LLOYD DR F D MORINI B L PIDGEON D BLAKE-ROBERT The following persons served as Trustees during the year ended 30 June 2024:_ The trustees who served as a trustee in the reporting period were as shown above, and there were no changes during the year, or in the period between the year end and the approval of the accounts. C F SMART M N LLOYD DR F D MORINI S A ROBINSON- resigned 18 August 2024 B L PIDGEON D BLAKE-ROBERT th
STOKE-ON-TRENT FESTIVAL LIMITED Company Registration Number- 0995728 Trustees, Annual Report for the year ended 30 June 2024 Statement of the Directors Trustee's Responsibilities The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Companies Act 2006, the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the statutory regulations, the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance wlth the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015 (as amended by the Bulletin issued in February 2016). In particular, the Companles Act 2006 and charity law require the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to:. To prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice {United Kingdom Accounting Standards and applicable law). Select suitable accounting policies and apply them consistently; Make judgements and estimates that are reasonable and prudent; Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business; State whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; The law requires that the trustees must not approve the accounts unless they are sat15fied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year, The Trustee5 are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to Show and explain the charit¢s transactions and enable them to ensure that the financial statements comply with the Companies Act 2006 and comply with regulations made under the Charities Act. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable Steps for the prevention and detection of fraud and other irregularities. The Trustees are also responsible for the contents of the Trustees, report and the statutory responsibility of the Independent Examiner in relation to the Trustees, report is limited to examining the report and ensuring that, on the face of the report, there are no material inconsistencies with the figures disclosed in the financial statements.
STOKE-ON-TRENT FESTIVAL YEAR ENDED 30th JUNE 2024 TRUSTEES ANNUAL REPORT In 2023124 a full series of eight orchestral concerts in thc Classics season, four recitals in the Piano Masters Series were programmed. Season ticket sales were lower than 2022/2023 and when ticket.price increases were taken into consideration they were lower still. Season tickets for the Piano Masters were slightly higher, which was encouraging. Single ticket sales were also down for the orchestral concerts, but higher for the Piano Series. Overall ticket sales were 6.7 % lower than the previous season. We have, however, managed to improve our overall financial position. We managed to secure a £90,000 grant from the Arts Council England over two years 2023124 and 2024/25. Additionally, interest rates were higher, so we were able to increase the interest received which made a significant difference to the final figures and we turned a £14,664 deficit into a £16,156 surplus. Our total funds on the balance sheet are almost £89,000 which is the highest figure yet. So our reserves are quite healthy. Ticket prices were increased as agreed across the board by an average of 5 % with rampant inflation of l O % plus this was quite reasonable. However, we are still considerably cheaper than Birniingham, Manchester and Liverpool. The Hon Hugh Gibson Trust awarded us £3,000 and The Harding Trust increased their grant by another £2,000 to £82,000, split bctwccn the orchcstral and the piano series. We also applied to the City Council for grants for special projects and that was successful too, Overall our best ever year for grant income! Festival Friends Donations were down as I mentioned earlier as were the number of donors. All charitable organisations are reporting falling income and I cannot envisage any improvernent in the short terni.
Patrons We had 23 Patrons which was exactly the same as the previous season. I am still working hard on finding new Patrons especially because part of their annual membership is all allowable for Gift Aid. Steinwa Piano Mana ement As I reported last year, we had a problem in not being able to hire out the piano because of the strong trading laws. The Harding Trust agreed to pay for the ivory keys to be removed and replaced with another product. The work was undertaken last summer and so we can start hiring it out again soon. However, the demand for hires has dropped from Music Societies since Covid. Finance We are in the strongest position ever with £89,000 of reserves. Signed on behalf of the trustees Michael Lloyd