IiEGISTERED COMPANY NUMBER: CS0114464 (Scotland) REGISTERED CHARJTY NUMBER: SC049961 Butefest SCIO Report of the Trustees 2nd Financial Statements for the Year EAded 30 September 2024 HENDERSON & COMPANY 78 Strwt CjreejL PA16 8BG
Bu(efest SCIO Contents of ihe Fin2ncig1 Siatemen15 for the Year Ended 30 September 2024 P•ge Report of ¢he Truslees to 2 Independen¢ Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Finan¢i*l St#tements 7 to 12 Detalled Statemellt of Flfj4D¢i A¢tivities 13
Butert SCJO Repurt of the Trustees for the Year Ellded 30 September 2024 TlJe tnjstees who also dircctors of the cliaril), for the purposes of the Coinpanies Act 2006: present Iheir I'eport witli tlie fiiiaiicial slaleinents of tlic chari15' for Ihc ycar cndcd 30 Sepleinb#r 2024. The Iruslees havo adopt¢d Ihc provisions of AOuntIng and R¢p011iiig by Cliarilies.. Sialeinent of R¢eominciidcd PclICe dpplicJble to cliai'ities preparing their accounts iii accordanc¢ ii'ith thc Financial Reportiiig Siaiidai applieable iii the UK R¥public of Ireland (FRS 102) (effective l Jaiiuary 2019). ACHIEI VEMENI. AND PERFORMANCE Whilst I have beei) involved since 2015 ihis was my first y¢Br as chair of BuleFest and il was 8 challenging year. Therc wcre significant changes in the composition of die cominittee and ol. tlic Iwstees. tl)e effect of this was detrimental to the management of the festival and it was a margin call as lo whether to Cancel or 80 ahead wilh the evenl iii 2024. Wliilst the coinmittee voted to 80 ahead, severdl team membcrs had to double up on rcspx)Dsibilitics, aiid special rccognitioii is deserved fnr F]0 l(K)k on 51te management as well as family and friiige wid welfare. andVh0 piiehed in abtsk¢ and beyond her contracted role in Inarketing. Ilowever, dcqi)il¢ our best efforis we los( time in adv¢rtisingJ we had to svurce altcrnativ¢ local resourc&q and agree s¢v¢raS new relationships comparntively late in the day all of which cost u5 momentum and impacted rev¢nu¢. So whilst the ¢ost of runnin8 the event incteased within lolernn¢¢ on 2023 from £2 I3.830 to £215,284 tlie in¢om¢ w&s below budget of and manifc5ted as a d¢crea5c froni £241,245 in 2023 to £198,313. Ticket shles were down on the prcvious year. We also took the decision to the local brew¢ry (Bute Brcw) 10 source the majority of our alcohol. And while il was to support a Iral business lh¢ profit pcr sale was impaclcd rosulting in much lower bar takings and we need to strike 2 better balanLe next ye3r. Tlie bank balancc al the end of ButeFesi 23 siood at approx. £109.000, although after consulian¢y. VAT and PRS paymcnls this brought us to approx. £95.000. Th¢ bank balance at the ¢nd of this arcounting period £76,000 with exp¢cted debits due EX¢ted to bring this close to £70.000. Every year we have a chance to respond to feedback and makc improveinents but in reality ihis year. due lo liin¢ constraints, very lew cl)anges werc all¢mpted. W¢ uCk with 2 .st4ges hgain and acc¢pt¢d ihat the addilion of a third acoustic stage was something we would brAng forward to the following yeai.. Th¢ family area WBS oncc again a gr¢at hit, il's an important area ihal makes our fcslival special for younger festival go¢rs and is at the lorefront of us demonstrkting our a5 family Iri¢ndly crcd¢nlials. Crew caleriiig was a success, coming in under budgel and being our PfenEd supplier. caiering was supplenieTrted by committec members who stcpped up and offered meals for the smaller nujnber of crew Ineinbers siarting earliest. 'riie festival is a well estsblished pnrt of the Scoltish boutiquc f1val scene and this w&s acknowledg¢d when we '¢re shortli5ted in ih¢ Scottish IAV¢ Music Awards- something to be immensely proud of. We continued to support local businesses wherevcr possibl< 8nd in 2024 maintained our donation to the Roth¢say Joint Academy to subsidise their Chrisknnas Ceilidh iickets. In 2025 it is our intention to strengthen ties with other local organisations SuprtIng young people, music and the art4 this being tempered wilh the need to focus on moximising revenue and keepiJJg dowii our costs wherever possible. BuleFest Scio has a great future. the Mmittee and volunteers do an amazing job of which l am iminengely proud and very much hope to br a parf of going forward. FUTURE PLANS Looktng foiward lo 2025 and against a background of g¢neral reducing festival attendance we have s¢t a more realistic £1 l 0,000 in ticket sales (down from £1 SO.000). We iyill review ih¢ highs and lows nf 2024. incldIng a cwqtomcr feedback survey to Ik at all Jsp¢ct of runnTng the festival to improve our offering io future festival 8oers. We will ¢eMainly need to dresS the Bar profitsbility and will bc reintroducing the acoustic siage. STRUCllTRF,, COVERNANCE AND MANAGEMKiYr Governing Dent The charity is contiM)Ilcd by its governig do¢um¢nL a deed of trnst. and constitutes 3 limited Company, limited by 8uaraniee, as defined by the Companies Act 2006. Pa¥¢ I
Bteft SCIO Report of tlie Trwsltes for the Year EDded 30 Scptemb¢r 1024 RETr EKLNCE AND ADMINISTRATIVE DETAIIS Ilegister¢d Company Duinbtr CS004464 (Scotlaiid} Registered Charity number C049961 llldependent FJxaminer Hend¢ison & Cumpany 73 lJnion Streei Gre¢nock Kenfrewshirc PA16 8BG Approved by order of the board of iruste¢s on 30 June 2025 and signed on its ixhalf by: Pdge 2
IDdependen¢ Exniiner's Report to the Trlee5 uf Butef¢st SCIO Jmdependent Examiner's Report to the Trustees of Butefe5t SCIO {'the Compny') repLllt to tlie cliarity truste on Iny examina(ioi) of thc accounts of the Loinpaiiy for the year endcd 30 Seplember 2024. Responsibilities and Basis of Report As th¢ cliaj'iry's tisterS of the Company (and also its diredot5 for the purposes of company law) yOLi are responsible foi. the prcparation of the a¢¢outits 11Tr accordance with the requiremeiits of the Coinpanie5 Act 2006 ('tlie 2006 Act,). Ilaving satlsfied myself tliat the acContS of the CoinpJny are not requir¢d io be audited under Part 16 ofilie 2006 Act atEd are eligible for independent examiiialion. I rew)rt in pect of Iny examinalioii (Jf youi. chai'ity's accounts as Caled out under Section 145 oftli¢ Chariti&8 Act 2011 ('Ihe 2011 Act')- In canying out Iny examination I have followed the Directions given by the Charity Cominissioii under sli0n 145(5) (b) ofthe 201 l Act. Independent Examiner's Slatwjient I Iiave completed Iny examination. l ¢onfirni that no matters liave come to my attention in c(Mine¢tion with the examination giving Ine cause lo believe: accounting Ircords were not kept in resp¢ct of the Compony Js required by Section 386 of tli¢ 2006 Act. or th¢ 8ccounts do not accord with those w¢c(xd4" or tl)e accounts do not comply with the accounting rcquiTements of Section 396 of the 2006 Act other than any requireinenl that th¢ accounts giiie a true and fair view which 15 not a mattcr considered as part of an independent examination. or the accounts have not been prepared ID accordance with the meihods atul principles of thc Stateiiicnl of Recommended Practice for accounting and rcw)rtin8 by charitics (opplicable lo Charities PparIng their AountS in accordan¥e with the Financial Reporting Standard applicable in the UK aiid Republic of Ir¢laTrd {FRS 102)). I have no ¢on¢erns and have come across no other matters in wnnection with th¢ exatnlnall to which allcntioii should be drawn in ihis report in OTd¢¥ io enable a woper UEMlerslanding of the accounts to bc r¢gehed. Hend¢rson & CompAny 73 Union Str¢et GreeniKk Renfrcwshire PA16 8BG 30 June 2025 Page 3
Butefest SCIO Statement of Financial Acttvities ror the Year Ended 30 September 2024 2024 Tolal Funds 2023 Total uiids Unrestricted Fuiid Reslricted Funds Notes IT4C.OME A14D ENDOWMENTS FROM Chai'itable Activities To advaiicc tlie Arts and Culture by sIIow¢&8iiig iiitei-nalionally renowiied iiiusicians, baiid5 aiid family entertaine via an annual family friendly festival, providing the opportunity for lo¢al musicians. 198,313 198.313 241.245 EXPENDITURE ON Charitable Activities To advance the Art5 and Culture by show¢asing internationally renown¢d IIIUSiLians, bands and family entertainers via an annual family friendly festival. providing the opportunity for local musicians. 215.284 215.284 213,830 NET INCOMEI(EXPENDITURE) Trnnsfer5 Between Funds (16.971) 8.306 (16.971) 27.415 8.306) Nei Movement in Funds (8.665) {8,306) (16.971) 27.415 RECONCILIATION OF FUNDS Total funds brought forward 89.786 8.306 98,092 70,677 TOTAL FUNDS CAII]iIED FORWARD 81.121 81.121 The notes fim part of these financial stsiements Page 4
Butefest SCIO Balance Shee¢ 311 September 2024 2024 Total Funds 2U23 'I"otal Funds Unreslricted Restrictcd Funds Note5 CURRENT ASSETS Debt015 Cash at Bank 5,470 76.301 5.470 76.301 108.962 81.771 81.771 108.962 CREDITORS Ainoui)ts falling due within one year {650) (650) (10,870) ET CURRENT ASSETS 81.121 TOTAL ASSETS LE&S CURREwr LIABILITIES 81.121 81.121 98.092 NET ASSETS 81.121 81,121 98.092 FUNDS Unrestricted Funds Restricted Funds 81.121 89,786 8,306 TOTAL FUNDS 81,121 98.092 The charitable company is entitlcd to exemption from audit under Section 477 of the CompaT]ies Act 2006 for the year ¢nded 30 September 2024. The members have not required th¢ company to obtain an audit of ils financial ststemenls for the year ended 30 September 2024 in ac¢ordan¢e with Section 476 of the Companies Act 2006. The tru5tee5 acknowledg¢ their responsibilities lor (a) ensuring thal the charitable company keeps a¢untIng records that mplY with Sections 386 and 387 of the Companies Act 2006 and (b) preP.ing financial statements which give a true and fair view of the State of affairs of the charitable company as at the end of each financial year and of its Slkrplus or deficit for financ&al year in accordaiice with the requ1Ments of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Aci 2006 relating lo financial statements. so far as applicable to the charilabl¢ Company. The notes fonn part of these financial statemen Page 5 onlinued...
Bulefesi SCIO Balanrv Sbeel - conliDued 30 September 2024 Thesc financiol stateinents have be¢ii prepar¢d in accordance with th¢ pDvisi¢Ms appli¢abl¢ to chai'itable ¢oinpanic5 subject to ihe small compaiiies regime. I'he fittai)¢ial stateni¢iit5 were approved by ihe Boord of TneS and auilioriscd for issu¢ on 30 Juiic 2025 and were signed oil its belialf by.. The noles fonn part of these fman¢ial ststements Page 6
Butefes¢ SCIO Notes to tlie Finaiicial Statement5 ror the Year Elided 311 September 2024 ACCOUNTING POLICIES Basis of Preparing the Finaneial Statements Tlie financial 51alcments of the charitable ¢ompJTly, wliich is a piiblic benefit entity uiider FRS 102. have beeii pr¢paErd in accordance with the Cliarities SORP (FRS 102) 'Accounling aiid licpoiling by Charities.. Stateinent of Recommended Practice applicable to chai'itics prepariiig tlieir ac¢ounls in accordanc¢ with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (¢ffective l January 2019),. Financial Reporting Siaiidard 102 'Thc fiiiancial Repoiliiig Stsiidard applicable in the UK and Republic of Irelaiid, and the Companies Acl 2006. The fiiiancial slalcments have been prepared under the historical cost convenlion. Income All income is rccognis¢d in th¢ Statement of Financial ActiVTlie5 once ihe charity has entitlement lo the funds. it is probable that Ihe inwme will be received and the amount can be Imeasur reliably. ExpeDditure Liabilitics are r¢¢ugnised as expendifure as soon as therc is a legal or construclive obligation committing the charity lo that expendituwe. it is probable Ihot a trdnsfer of e¢onomic benefits will be requird in settlement and Ihc amount of the obligation Can b¢ Ineasured lIablY. Expenditui'e 15 ac¢ount¢d for on an accruals basis and has been classified under headin&% thal aggregate all c051 related to th¢ category. WheTC costs cannot be ditlY attributed to particulai. h¢adiiigs ihey have been allocated to activities on a basis consistent willi th¢ use of resourccs. T*xalion The charity is exempt from corporation tax on its charitable activities. Fund Accounting Unrestricted funds con be used in a¢¢ordance with the ¢haritable objectives at th¢ discretion of Il)e trust¢es. Restri¢t¢d funds can only be used for particular restricted purposes within the objects of the charity. Restrictions ar&se when specified by the donor or when funds are raised for particular restri¢led purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statement5. Hire Pur¢h4s¢ gnd iA8ing Commitments Rentals paid und¢r operating leases are charged to the Statement of Financial Activities on a straight lin¢ basis over the period of the lease. NET INCOMEI(EXPKNDITURE) Nel In¢om¢l{Expenditure) is stated after chargIn(CredItIng)= 2024 2023 Hire of Plant and Machinery Other Operating Leas¢s 75.377 81,233 13,996 Page 7 continued...
Butefe5t SCIO Notes to the Financial Statements - continued for tbe Year Ended 30 Seplember 2024 TRUSTEES, RETrIUNERATION AND BENEFITS Th¢re were Mo trustees, reinunerntion or oilier beiiefits for the year ended 30 Scpteiiiber 2024 iior foi. tlie year ended 30 September 2023. Trus¢ee5' Exp¢nses Tliei'e werc no trustees, expenses paid for the year ¢tNled 30 September 2024 nor for the year ended 30 September 2023. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restri¢led Fund Fui)ds Totsl Funds COME AND F.NDOWMENTS FROM Charitable Activities To advanc¢ the Arts and Culturc by showcasing intcmationally reftowned musicians, bands and family ¢nt¢rtaine via an annual family friendly festival. providing the opportunity for local musicians. 225.750 15.495 241,245 EXPENDITURE ON Charitable Activities To advance the Arts and Culturc by showcasing intemationally renowned musicians. band5 and family entertaineTS via ali annual family friendly festival. providing th¢ opportunity for local musicians, 194.488 19.342 213,830 NET INCOMEI(EXPENDITURE) 31.262 (3.847) 27.415 RECONCILIATION OF FUNDS Total Funds brought fonyard 58.524 12.153 70,677 TOTAL FUNDS CAIUUED FORWARD 89.786 8.306 98,1)92 Page continued...
Butefesi SCIO Notes to the Financial Statements- confinued for the Year Ended 30 September 2024 DEBTORS: AMOUNfs FALLING DUE WITHIN ONE YEAR 2024 2023 VAT 5,470 CREDITORS: AMouNfs FALLIIYG DUE WITHIN ONE YEAR 2024 2023 VAT Accrued Expetises 10.270 600 650 650 10,870 MOVEMENf IN FUNDS Net Movement in Funds Transfers Between Fuiids At 1.10.23 At 30.9.24 Unreslricted Funds General Fund 89.786 (16,971) 8.306 81,121 Restricted Funds COOP Vol Development 7.811 495 (7.811) 495) Band Donations 8,306 8.306) TOTAL FUNDS 98.092 16.971 81,121 Net movement in funds. included in the above are as follows: Incomin8 Resources R¢50urces Movemcnt EXnded in Funds UnYestrÉcted Funds General Fund 198J13 (215.284) (16.971) TOTAL FUNDS 198.313 (21 5.284) 16,971) Pag¢ 9 continued...
Butefe51 SCIO Notos to the Financial Statemcn15- Colltinued for the Year Ellded 30 September 2024 MOVEMENf IN FUNDS- continued Cotnparatives roy movement in funds Net Moveincnt in Fiinds At 1.10.22 At 30.9.23 Unrestricted Funds General fund 58.524 31.262 89,786 Restrieted Funds ACHA App Fund COOP Vol Development 500 (500) 11.653 (3,842) 495 7.811 495 Band Donations 12.153 3.847 TOTAL FUNDS 70,677 98.092 Comparative net movement in funds. includ¢d in the above aTe a5 follows- Incoming Resources Resources Movement Expended in Funds UDrestrieted Funds General Fund 225.750 (194.488) 31.262 Reytrieted FuDds ACHA App fund COOP Vol Development {500) {500) (3,842) (3.842) Stichting W Coast Marketing 12.500 2.500 495 {12,51X)) (2.500) Stichting W Coast Family & Fringe Band Donations 495 15.495 19.342) 3.847) TOTAL FUNDS 241245 213,830} 27,415 Page 10 continued...
Bulef&81 SCIO Notes to the Finallcial Statemenls- continued for the Year Ended 30 September 1024 MOVEMENT IN FUNDS- continued A current year12 months and prior year 12 months combined position is as folloivs: Transfers Betwcen Fui)ds Net Movement in fui)ds At 1.10.22 30.9.24 Unre5trlcted Funds Geiiei'al Fuiid 58.524 14.291 8,306 81,121 Restricted Funds ACHA App Fund COOP Vol Development (500) 11.653 (3,842) 495 (7,811) 495) Band Donations 3.847) 8.306) TOTAL FUNDS 70.677 81.121 A eurreiit year 12 months and prior year 12 months rnbined net movement in funds, in¢luded iwt the above arc as follows: Incoming Resources Rcsources Moveinent Expended in Funds Unreslricted Fund5 Genernl Fund 424.063 {409.772) 14.291 Restricted Funds ACHA App Fund COOP Vol Development (500) {500) (3.842) (3,842) Stichiing W Coast Markeiing 12,500 2.500 495 (12,500) (2.500) Stichting W Coast Family & Fring¢ Band t)oftations 495 15.495 19,342) 3,847) TOTAL FUNDS 439,558 (429.114) 10,444 Page 11 continued...
Butefest SCIO Notes to the Financial Statemen15 - continued foi. the Year Endcd 30 September 2024 RELATED PARTY DISCLOSURES lTh¢re wcre no relat¢d party transactions for th¢ year ellded 30 Septembei. 2024. Page 12
Butefesi SCIO Detailed Stalement of Financial Activities for the Year Ended 30 September 2024 2024 2023 NCOME AND ENDOWMENTS Charitable Activities Tickcl Sales Bar Sales Sponsorship M¢rchandisc Grants Other Incom¢ 103,073 66,768 4,200 285 17,700 6.287 J42,438 02.250 5,225 5,890 J6,800 8,636 198313 24J.245 TotY41 Ineomihg Resource 198.313 241,245 EXPENDITURE Support costs Management Equipin¢nt & Installation Security Liccnse & Insurance Advertising Sundries Purcha5C5 Band Fees 75,377 14.279 12.033 1 S.898 10,366 54,783 31.848 81,233 13,996 3.800 19.980 19.538 34.395 40.222 214.584 213,230 GoverDanee Costs Accountancy Fees 700 600 Total Resources Expended 21 S.284 2J3,83Q Net (Expenditureylneome 16.971) 27,415 This pag¢ does not fonn of the sthtutory fmancial statements Ppge 13