REGISTERED CHARITY NUMBER: **802826**
**Report of the Trustees and Unaudited Financial Statements for the Year Ended**
**30 September 2024**
**For The Bushey Festival Association**
The Bushey Festival Association Report of the Trustees For the Year Ended 30 September 2024
||Page|
|---|---|
|Report of the Trustees|1 to 3|
|Independent Examiner’s Report|4|
|Statement of Financial Activities|5|
|Balance Sheet|6|
|Notes to the Financial Statements|7 to 11|
|Detailed Statement of Financial Activities|12 to 13|
The Bushey Festival Association Report of the Trustees
For the Year Ended 30 September 2024
The trustees present their report with the financial statements of the charity for the year ended 30th September 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Charity number**
802826
## **Principal address**
10 The Close Bushey Hertfordshire WD23 3NG
## **Trustees**
F. Francis
F. Newman
T. Sanwo
E. Collins
A. Guthrie-Jones L Lingwood
## **Independent examiner**
Kevin O’Malley, ACA, Brevins Limited, Chartered Accountants.
23 Porters Wood, St. Albans, AL3 6PQ
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The Charity is controlled by its governing document, a deed of trust, which was adopted on 11 January 1990 and constitutes an unincorporated charity.
## **Risk management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The aim of the charity is to promote and organise musical, artistic, educational, recreational and leisure (time) events for the local community in Bushey and surrounding areas. In practice, these events and activities take place throughout the year, culminating in the summer community festival in July.
We play a key role in the Bushey Community throughout the year; celebrate the arts, culture and heritage of Bushey and encourage all ages to be actively involved.
1
The Bushey Festival Association Report of the Trustees For the Year Ended 30 September 2024
## **ACHIEVEMENT AND PERFORMANCE**
2024 was another successful year for the Festival with even more events held during the 10 day Festival period and despite inclement weather, a great finale event.
We were very happy to welcome a new Sponsor of the Festival, Browns Estate Agents, and look forward to working with them in the following years.
Bushey Festival received a two year Lottery Awards For All grant this year which has meant we can plan for 2025 secure in the knowledge that financial reserves are available. Half of the grant has been taken into these accounts and half taken forward into the 2025 accounts.
Over 10 days in July we supported over 30 community events including a celebration of the 50[th] anniversary of Hertsmere with the Friends of the Rose Garden. New events included an exhibition by the Watford and Bushey Art Society and we welcomed the return of the St James Church Open days and Tower Tours.
All events during the week were very well attended and many were at capacity. We received lots of feed back from event organisers on how the events benefitted them – not only financially but in terms of attracting volunteers and raising awareness of their organisations.
The Festival culminated again with the Festival in the Park. Unfortunately, there was heavy rain over the weekend which only stopped mid-afternoon. This affected the number of attendees early on, however by 5pm the rain had cleared and everyone enjoyed the remainder of the event. We appreciated the performers, stallholders, stage staff and volunteers for setting up and putting on a show in the sometimes torrential downpours!
The Festival in the Park partnered with Bushey Bowls Club this year and the Club hosted our acoustic stage. This is something we would like to build on in the future as performers and attendees commented on the great atmosphere in the clubhouse. (And it was dry!)
Bushey Festival again took the initiative to erect and light the village Christmas tree. In 2023 we had grant from local councillors to increase the lighting and around the tree so we also lit up the hedges surrounding the pond at St James Church. Thanks go to the rector and his team for giving us access to the Church grounds and to participating on the ‘lighting-up’ ceremony. The increased lighting meant more visibility for the decorations and there were many positive comments from the community.
We also joined with The Friends of the Rose Garden to put on a Christmas Market that was very well received. The regular events of the Music Crawl (in January) and Easter Hop also took place and helped generate donations for the Festival.
## **Acknowledgements**
We would like to thank everyone involved in planning, delivering, and supporting the festival.
In particular our sponsor, Browns Estate Agents and Hertsmere councillors and county councillor from their ward improvement scheme funds that helped towards the costs of putting on the festival.
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The Bushey Festival Association Report of the Trustees
For the Year Ended 30 September 2024
Thanks also go to Inspire All for allowing us to use King George’s Recreation Ground and assisting with logistics and not forgetting London Road Studios who do an amazing job supplying the staging and sound for the Festival in the Park.
Thanks also go out to all our amazing volunteers including the committee members who again went above and beyond to ensure a successful 2024 Festival.
And finally, we would like to acknowledge the great and diverse Bushey Community; without their support there would not be a Bushey Festival.
## **Finances**
During 2023/24 the Festival had the support of a volunteer fundraiser who helped us source grants and other funding. Whilst not all applications were successful, our main achievement was a grant of just under £20k from the Lottery Awards For All. This has meant that we have secure funding for the 2025 Festival without going into our reserves.
Again costs of putting on the Festival increased and we had to look at how we could keep within our budgets – one way we did this was to reduce the stages at the Festival in the Park and use the Bowls Club for our ‘2[nd] stage’.
Due to the inclement weather at the Festival in the Park, bar sales and donations were not as high as expected, however we still managed to make a small surplus on this year’s events and Festival in the Park.
Unfortunately we also had to find a new bank account in 2023 as Barclays Bank decided to arbitrarily close our account. The only account we could access due to our financial policies incurs bank charges which we now need to take into account. The switch over has also risked us losing funds from memberships (The Friends) as people often had annual standing orders set up to the old account.
Despite the rising costs, bank issues and our first ‘rain year’ we did make a surplus and did not need to use our reserves. Also we have learnt from the various issues and are better able to plan for the coming years.
## **Reserves policy**
The charity aims to hold approximately one year’s expenditure in reserves in order to be able to meet its liabilities in full at any given time.
Approved by order of the board of trustees 25[th] November 2024 and signed on its behalf by:
.............................................
E. Collins - Chair
3
Independent Examiner’s Report to The Trustees of The Bushey Festival Association
I report on the accounts for the year ended 30 September 2024 set out on pages five to ten which have been prepared on the basis of the accounting policies on pages seven to ten
## **Respective responsibilities of trustees and examiner**
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required.
## **Basis of Independent Examiner's Report**
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, seeking explanations from the Board of Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by these accounts.
## **Independent Examiners Statement**
In connection with my examination, no matter has come to my attention which gives me a reasonable cause to believe that in any material aspects the requirements to keep the accounting records in accordance with the Charities Commission Guidance and to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Kevin O’Malley, ACA, Brevins Limited, Chartered Accountants. 23 Porters Wood, St. Albans, AL3 6PQ
Signed
Date: 25[th] November 2024
4
The Bushey Festival Association Notes to the Financial Statement For the Year Ended 30 September 2024
|Notes
**INCOMING RESOURCES**
**Incoming resources from generated**
**funds**
Lottery Grant
2
Voluntary income Supporters
Voluntary Income Donations and
Grants
2,11
Activities generating funds
2
Investment income
3
**Total Incoming Resources**
**RESOURCES EXPENDED**
**Costs of generating funds**
Fundraising: cost of goods sold and
other costs
4
**Charitable activities**
Grants to other charities meeting our
objectives and aims
**Other resources expended**
**Total resources expended**
**NET INCOMING / (OUTGOING)**
**RESOURCES**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
9,879
427
5,326
8,501
0|Restricte
d funds
£
0
0
905
0
0|30.9.2
4
Total
funds
£
9,879
427
6,231
8,501
0|30.9.23
Total
funds
£
0
498
3,450
11,422
44|
|---|---|---|---|---|
||**24,133**|**905**|**25,038**|**15,477**|
||15,113
0
6,243|1,905
0|17,018
0
6,243|19,113
0
4,061|
||**21,356**|**1,905**|**23,261**|**23,174**|
||||||
||**2,777 **|**-1,000**|**1,777**|**-7,727**|
||19,573
**22,350**|2,109
**1,109**|21,682
**23,459**|29,409|
|||||**21,682**|
5
## The Bushey Festival Association Notes to the Financial Statement For the Year Ended 30 September 2024
|Notes
**FIXED ASSETS**
Tangible assets
6
**CURRENT ASSETS**
Debtors
Prepayments
Stock
Cash at bank
**CREDITORS**
Income in advance/Deferred
Income
7
**NET CURRENT ASSETS**
TOTAL ASSETS LESS NET
CURRENT
LIABILITIES
**NET ASSETS**
**FUNDS**
8
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Unrestricte
d
fund
£
0
0
0
1,034
31,290
32,324
-9,974
22,350
22,350
22,350|Restricted
funds
£
0
0
0
0
1,109
1,109
0
1,109
1,109
1,109|30.9.24
Total
funds
£
0
0
0
1,034
32,399
33,433
-9,974
23,459
23,459
23,459
22,349
1,110
23,459|30.9.23
Total
funds
£
0
0
0
1,293
20,389|
|---|---|---|---|---|
|||||21,682
0|
||||||
|||||21,682|
|||||21,682|
|||||21,682|
|||||19,573
2,109|
|||||21,682|
The financial statements were approved by the Board of Trustees on 25[th] November 2024 and were signed on its behalf by:
Liz Collins - Trustee
Frank Newman - Trustee
The notes form part of these financial statements
6
The Bushey Festival Association Notes to the Financial Statement
For the Year Ended 30 September 2024
__________________________________________________________________________________
## **1. ACCOUNTING POLICIES**
## **Accounting convention**
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
## **Incoming resources**
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
## **Resources expended**
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year-end date are noted as a commitment but not accrued as expenditure.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life
Plant and machinery - Straight line over 3 years
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
7
The Bushey Festival Association Notes to the Financial Statement
For the Year Ended 30 September 2024
__________________________________________________________________________________
## **2. ACTIVITIES GENERATING FUNDS**
|Sponsorships and Donations
Grants
Events
**3. INVESTMENT INCOME**
Deposit account interest
**4. FUNDRAISING TRADING: COST OF GOODS SOLD AND OTHER COSTS**
Artists’ fees and expenses
Bar rental, Stock and staff
Christmas tree and lights
Equipment and Materials
Event Security
Events sundries
First Aid
Hire of Marquee & Toilets
Other Costs
Rubbish disposal
Stage & Equipment hire
Volunteer Expenses
**Total**|**30.9.24**
**£**
1,250
13,304
9,152
23,706
**30.9.24**
**£**
0
**30.9.24**
£
3,050
3,625
404
0
1,048
256
618
3,013
0
120
4,590
295
**17,018**|**30.9.23**
**£**
0
3,450
11,422|
|---|---|---|
|||14,872|
|||**30.9.23**
**£**
77|
|||**30.9.23**
£
3,400
1,774
266
0
1,050
167
0
4,053
0
180
6,250
450|
|||**19,113**|
## **5. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 30 September 2024 nor for the year ended 30 September 2023.
8
The Bushey Festival Association Notes to the Financial Statement For the Year Ended 30 September 2024
## **6. TANGIBLE FIXED ASSETS**
|COST
Additions
DEPRECIATION CHARGE FOR YEAR
NET BOOK VALUE
At 30 September 2024
At 30 September 2023
**7. CREDITORS: DEFERRED INCOME**
Grant Awards for All 2025 Festival
Subscriptions 2024|Plant
and
Machinery
£
0
0
0
0
**30.9.24**
£
9.879
95
**9,974**|**30.9.23**
£
0|
|---|---|---|
|||0|
## **8. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General fund
**Restricted funds**
Christmas Lights
Hertfordshire County
Total funds|At 1.10.23
Net
Movement
in Funds
At 30.9.24
£
£
£
19,573
2,777
22,350
1,109
1,109
1,000
-1,000
0|
|---|---|
||21,682
1,777
23,459|
Net movement in funds, included in the above are as follows:
9
The Bushey Festival Association Notes to the Financial Statement For the Year Ended 30 September 2024
|**Unrestricted funds**
**Restricted funds**
Total funds|Incoming
Resources
Resources
Expended
Movement
in Funds
£
£
£
24,133
21,356
2,777
905
1,905
-1,000
|
|---|---|
||25,038
23,261
**1,777**|
## **10 ANALYSIS OF GROSS SURPLUS OF THE EVENTS**
|Antony Wilding Open House
Bar Sales
Bentley Priory
Bucket collections
Christmas Market
Comedy Night
Easter Hop
Fairground
Flower Shop
Guided Walking tour
Horse and Chains Music
Ice Cream Van
Music Crawl
Purcell School Concert
Quiz-Three Crowns
Rose Garden event
Stallholders Plot fee|**30.9.24**
**£**
50
2,994
90
551
147
24
188
250
50
43
82
420
560
85
900
923
1,400
**8,757**|**30.9.23**
**£**
0
2,225
124
1,510
0
0
186
411
0
95
0
150
534
0
676
986
2,300|
|---|---|---|
|||**9,297**|
10
The Bushey Festival Association
## Detailed Statement of Financial Activities
For the Year Ended 30 September 2024
|**INCOMING RESOURCES**
**Voluntary income**
Lottery Grant
Grants and donations
Subscriptions
**Activities for generating funds**
Other Activities / Events
**Investment income**
Deposit account interest
**Total incoming resources**
**RESOURCES EXPENDED**
**Fundraising trading : cost of goods sold and other costs**
See Note 4
**Charitable Activities**
Donation to Charities
**Management**
Printing and Publicity
Advertising and bunting
Leaflet Distribution
Website Design & Hosting Fee|**30.9.24**
**£**
9,879
6,231
427
**16,537**
8,501
**25,038**
0
**25,038**
17,018
0
0
2,033
422
2,160
222
4,837|**30.9.23**
**£**
0
3,450
498|
|---|---|---|
|||**3,948**
11,422|
|||**11,422**
77|
|||**15,447**|
|||17,826|
|||0|
|||0
2,271
0
1,728
193|
|||4,192|
11
## The Bushey Festival Association
## Detailed Statement of Financial Activities
For the Year Ended 30 September 2024
|**Finance**
Event Insurance
Bank and Paypal charges
Sundries
Depreciation of plant and machinery
**Total resources expended**
**Net (expenditure) /income**||1,134
190
82
1,406
0
**23,261**
**1,777**||1,135
0
21|
|---|---|---|---|---|
|||||1,156|
|||||0
**23,174**|
|||||**-7,727**|
12