ST DAVIDS PENINSULA MUSIC AND ARTS C.I.C.

Company limited by guarantee

Company Registration Number:
12972006 (England and Wales)

Unaudited statutory accounts for the year ended 31 October 2023

Period of accounts

Start date: 1 November 2022

End date: 31 October 2023

ST DAVIDS PENINSULA MUSIC AND ARTS C.I.C.

Contents of the Financial Statements

for the Period Ended 31 October 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

ST DAVIDS PENINSULA MUSIC AND ARTS C.I.C.

Directors' report period ended 31 October 2023

The directors present their report with the financial statements of the company for the period ended 31 October 2023

Principal activities of the company

Directors Report St. Davids Peninsula Music & Arts C.I.C.November 2022 to October 2023In August 2021 we were successful in winning a tender with Pembrokeshire County Council to run two music festivals in St. Davids as part of the European Union funded Ancient Connections project. The festivals were to be held in “shoulder season” outside the main holiday/tourist seasons to help boost the income of local businesses and musicians through bringing people into the area.The festival was named CWTCH Festival, St. Davids. In April 2023 we held the second one.After this it was though appropriate to change the festival name to Boia Festival, St Davids, and the first of these was held on the last weekend of October 2023.We recieved a monthly payment for the sum of £3,166.66 until July 2023 (a total of £47, 499.90 for two festivals). All of the money was to be spent on running the festivals and thus was restricted income. We are a non-profit organisation so any other money we made from ticket sales would be ploughed into upcoming festivals. The festival in April 2023 was run on a voluntary basis by the co-directors and volunteers, but we thought it appropriate to pay the organisers some mony for the October 2023 festival.The first 2023 festival was a scaled down version, and the October one was full scale. Running two large festivals in one year we felt was too tiring for organisers.For the October festival we were successful in getting a grant (sub £10K) from Arts Council Wales.The headline act at the main venue on the Saturday night in October was Gaz Coombes (formerly of Supergrass), an internationally known rock act who have headlined stages all over the world. Other well know acts headlined other nights and venues.In all, more than 30 acts played in October, either in main ticketed venues or on the “Trail” which consisted of pub and cafe stages and was free to the public.Shops, hotels, b&bs, guest houses and cafes benefited financially, as did local musicians who were paid to play in the venues. Feedback from local businesses and residents was unanimously positive in that they wanted it to happen again and for it to be a yearly event. Part of the remit of the tender was to create a sustainable festival which would become a permanent feature of shoulder season in St. Davids.Financial reportSt. Davids Peninsula Music & Arts C.I.C. does not own any property, musical equipment/p.a., transportation/car/van, IT technology or intellectual property. We have no on-going overheads such as rent or energy bills etc.The majority of the expenditure is paying invoices and this happened after each festival with the exception of some acts e.g. Gaz Coombes who required 50% fee up front several month in advance. Also, online ticket platforms pay up several days after the date of the events, so expected income was received after the 31 October.



Directors

The directors shown below have held office during the whole of the period from
1 November 2022 to 31 October 2023

Steven Prior
Michael Chant
Jacob Harries


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
31 July 2024

And signed on behalf of the board by:
Name: Jacob Harries
Status: Director

ST DAVIDS PENINSULA MUSIC AND ARTS C.I.C.

Profit And Loss Account

for the Period Ended 31 October 2023

2023 2022


£

£
Turnover: 31,905 36,875
Cost of sales: ( 31,397 ) ( 33,957 )
Gross profit(or loss): 508 2,918
Distribution costs: 0 0
Administrative expenses: ( 484 )
Other operating income: 0
Operating profit(or loss): 24 2,918
Profit(or loss) before tax: 24 2,918
Profit(or loss) for the financial year: 24 2,918

ST DAVIDS PENINSULA MUSIC AND ARTS C.I.C.

Balance sheet

As at 31 October 2023

Notes 2023 2022


£

£
Current assets
Debtors: 3 39,999 18,550
Cash at bank and in hand: 1,108 18,325
Total current assets: 41,107 36,875
Creditors: amounts falling due within one year: 4 ( 39,909 ) ( 33,957 )
Net current assets (liabilities): 1,198 2,918
Total assets less current liabilities: 1,198 2,918
Total net assets (liabilities): 1,198 2,918
Members' funds
Profit and loss account: 1,198 2,918
Total members' funds: 1,198 2,918

The notes form part of these financial statements

ST DAVIDS PENINSULA MUSIC AND ARTS C.I.C.

Balance sheet statements

For the year ending 31 October 2023 the company was entitled to exemption under section 477 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 Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 29 July 2024
and signed on behalf of the board by:

Name: Jacob Harries
Status: Director

The notes form part of these financial statements

ST DAVIDS PENINSULA MUSIC AND ARTS C.I.C.

Notes to the Financial Statements

for the Period Ended 31 October 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

ST DAVIDS PENINSULA MUSIC AND ARTS C.I.C.

Notes to the Financial Statements

for the Period Ended 31 October 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 0 0

    People were wither volunteers, or freelance over 3 days of the festival.

ST DAVIDS PENINSULA MUSIC AND ARTS C.I.C.

Notes to the Financial Statements

for the Period Ended 31 October 2023

3. Debtors

2023 2022
£ £
Trade debtors 39,999 18,550
Total 39,999 18,550

ST DAVIDS PENINSULA MUSIC AND ARTS C.I.C.

Notes to the Financial Statements

for the Period Ended 31 October 2023

4. Creditors: amounts falling due within one year note

2023 2022
£ £
Trade creditors 39,909 33,957
Total 39,909 33,957

COMMUNITY INTEREST ANNUAL REPORT

ST DAVIDS PENINSULA MUSIC AND ARTS C.I.C.

Company Number: 12972006 (England and Wales)

Year Ending: 31 October 2023

Company activities and impact

In August 2021 we were successful in winning a tender with Pembrokeshire County Council to run two music festivals in St. Davids as part of the European Union funded Ancient Connections project. The festivals were to be held in “shoulder season” outside the main holiday/tourist seasons to help boost the income of local businesses and musicians through bringing people into the area.The festival was named CWTCH Festival, St. Davids. In April 2023 we held the second one.After this it was though appropriate to change the festival name to Boia Festival, St Davids, and the first of these was held on the last weekend of October 2023.We recieved a monthly payment for the sum of £3,166.66 until July 2023 (a total of £47, 499.90 for two festivals). All of the money was to be spent on running the festivals and thus was restricted income. We are a non-profit organisation so any other money we made from ticket sales would be ploughed into upcoming festivals. The festival in April 2023 was run on a voluntary basis by the co-directors and volunteers, but we thought it appropriate to pay the organisers some money for the October 2023 festival.The first 2023 festival was a scaled down version, and the October one was full scale. Running two large festivals in one year we felt was too tiring for organisers.For the October festival we were successful in getting a grant (sub £10K) from Arts Council Wales.The headline act at the main venue on the Saturday night in October was Gaz Coombes (formerly of Supergrass), an internationally known rock act who have headlined stages all over the world. Other well know acts headlined other nights and venues.In all, more than 30 acts played in October, either in main ticketed venues or on the “Trail” which consisted of pub and cafe stages and was free to the public.Shops, hotels, b&bs, guest houses and cafes benefited financially, as did local musicians who were paid to play in the venues. Feedback from local businesses and residents was unanimously positive in that they wanted it to happen again and for it to be a yearly event. Around 600 people per day engaged withe the October festival.

Consultation with stakeholders

We have talked to business owners, local musicians, owners of cafes, pubs and shops, owners of hotels, B&Bs & guest houses. Local people enjoy the evnts, whether they are free or pay-for.Several pubs like it enough to sponsor the festival, so has local brewery.We are talking to the local council about how best to market the festival to sponsors from both inside and outside the area.

Directors' remuneration

Three directors were paid for differing work around the festival.Festival director Steve Prior was paid £2,000 towards work over more than 9 months curating, booking acts, venues and equipment, and publicity on a freelance basis.Jacob Harries was paid £1,500 toward work over 9 months fundraising, for admin, financial and festival strategy work over on a freelance basis.Michael Chant was paid £650 for running a P.A. system in a venue and preforming at the festival.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
31 July 2024

And signed on behalf of the board by:
Name: jacob Harries
Status: Director