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REGISTERED COMPANY NUMBER: 05847393 (England and Wales)
REGISTERED CHARITY NUMBER: 1186707














Report of the Trustees and

Unaudited Financial Statements for the Year Ended 30th November 2023

for

Priddy Folk Festival

Priddy Folk Festival






Contents of the Financial Statements
for the Year Ended 30th November 2023




Page

Report of the Trustees 1 to 3

Independent Examiner's Report 4

Statement of Financial Activities 5

Balance Sheet 6 to 7

Notes to the Financial Statements 8 to 12

Priddy Folk Festival (Registered number: 05847393)

Report of the Trustees
for the Year Ended 30th November 2023


The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30th November 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES
Significant activities
For 2023 we focussed on programming, and addressing a gap in our audience for the youth demographic. We tailored specific content to the youth area to extend our work with the Wells Blue School to encourage performance. We moved consciously from simple entertainment slots to more engagement/workshop content.

We also tidied up a lot of our infrastructure challenges after being impacted by suppliers pulling out in 2021-22. We changed our provision for disabled camping which had outgrown its previous ad hoc provision.

The Priddy Rising project we run with The Wells Blue School got back into its stride after the covid years where we lost a lot of chohort experience from older pupils. This project, where we pay for professional musicians to host two weekend workshops with a selection of pupils to help them put together a free concert which is performed live at the festival on our main stage was another considerable success. Unfortunately Halsway Manor did not support the project as they have done in previous years so we were not able to provide the usual bursaries to reward the most engaged pupils. We will consider a different partner for next year.

The feedback from festival goers, artists and even traders was almost universally positive this year, and we sold out of tickets, with numbers being up in all areas, including the PTA "Green Cow" café which we subsidise to raise money for the Priddy and St Laurence confederation.

Requests were considered at our AGM in October 2023 and donations were made to:

OrganisationRequestSum Totals
SchoolWCET 3 Term Package 1,190
Spring Term Workshops & Tailored Tuition811
Bespoke Music Tuition 1,947
Summer Term Workshops & Tailored Tuition 495
PFF Contribution4,443
Pre-School-
Parish CouncilKerbing and tidying Nine Barrows Triangle8,000
Contributions from elsewhere(6,000)
Towards Playground5,000
PFF Contribution7,000
Village HallInstallation of electric cooker, boiler, etc1,000

Priddy Folk Festival (Registered number: 05847393)

Report of the Trustees
for the Year Ended 30th November 2023

OrganisationRequestSum Totals
ChurchNew Lights/making good water damage720
New Heating (Total Cost £5,999)
Priddy RisingHalsway Bursaries2,000
PTA-
Parent & Toddlers-
Priddy SingersCamera eqpt and music stand138
Photography ClubDisplay Frames and Bursaries320
New gate to church yard from field500
Monday ClubSpeakers600
Priddy Creative Club-
Monday Club Bowls-
Local History GroupNew Laptop650
ArchaeologyLithic analysis1,000
Wildflower WalkReprint of wildflower leaflets278
Total for non reserved requests3,486

Grand Total£18,650

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
05847393 (England and Wales)

Registered Charity number
1186707

Registered office
Rose Farm Wells Road
Priddy
Wells
BA5 3AZ

Trustees
Ms J Adams Retired
M J Cartmel Marketing Manager
Ms R Clarke Teacher
D R Collier Handyman
Ms L Chard Company Director (resigned 22/10/2023)

Company Secretary


Priddy Folk Festival (Registered number: 05847393)

Report of the Trustees
for the Year Ended 30th November 2023


REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
Probusiness Ltd
St Lawrence Lodge
37 Chamberlain Street
Wells
Somerset
BA5 2PQ

Approved by order of the board of trustees on 28th August 2024 and signed on its behalf by:





M J Cartmel - Trustee

Independent Examiner's Report to the Trustees of
Priddy Folk Festival

Independent examiner's report to the trustees of Priddy Folk Festival ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30th November 2023.

Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.








Niall O'Driscoll

Probusiness Ltd
St Lawrence Lodge
37 Chamberlain Street
Wells
Somerset
BA5 2PQ

28th August 2024

Priddy Folk Festival

Statement of Financial Activities
for the Year Ended 30th November 2023

30/11/23 30/11/22
Unrestricted Total
fund funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 157 2,041

Other trading activities 2 157,318 142,648
Investment income 3 645 94
Total 158,120 144,783

EXPENDITURE ON
Raising funds 116,338 102,040

Charitable activities
General 1,339 2,666

Other 23,507 11,078
Total 141,184 115,784

NET INCOME 16,936 28,999


RECONCILIATION OF FUNDS
Total funds brought forward 64,896 35,897

TOTAL FUNDS CARRIED FORWARD 81,832 64,896

Priddy Folk Festival (Registered number: 05847393)

Balance Sheet
30th November 2023

30/11/23 30/11/22
Unrestricted Total
fund funds
Notes £    £   
FIXED ASSETS
Tangible assets 7 - 146

CURRENT ASSETS
Cash at bank and in hand 82,540 65,458

CREDITORS
Amounts falling due within one year 8 (708 ) (708 )

NET CURRENT ASSETS 81,832 64,750

TOTAL ASSETS LESS CURRENT
LIABILITIES

81,832

64,896

NET ASSETS 81,832 64,896
FUNDS 9
Unrestricted funds 81,832 64,896
TOTAL FUNDS 81,832 64,896

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2023.


The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2023 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing 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 surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.


Priddy Folk Festival (Registered number: 05847393)

Balance Sheet - continued
30th November 2023

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 28th August 2024 and were signed on its behalf by:





M J Cartmel - Trustee

Priddy Folk Festival

Notes to the Financial Statements
for the Year Ended 30th November 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. 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.

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 - 33% on cost

Taxation
The charity is exempt from corporation 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.

2. OTHER TRADING ACTIVITIES
30/11/23 30/11/22
£    £   
Ticket sales 116,601 101,293
Merchandising 2,584 3,657
Bar sales 23,114 20,392
Car parking income 2,284 2,852
Craft and food traders 12,710 14,098
Miscellaneous income 25 356
157,318 142,648

Priddy Folk Festival

Notes to the Financial Statements - continued
for the Year Ended 30th November 2023

3. INVESTMENT INCOME
30/11/23 30/11/22
£    £   
Deposit account interest 645 94

4. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

30/11/23 30/11/22
£    £   
Depreciation - owned assets 146 145

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30th November 2023 nor for the year ended 30th November 2022.


Trustees' expenses

There were no trustees' expenses paid for the year ended 30th November 2023 nor for the year ended 30th November 2022.


6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£   
INCOME AND ENDOWMENTS FROM
Donations and legacies 2,041

Other trading activities 142,648
Investment income 94
Total 144,783

EXPENDITURE ON
Raising funds 102,040

Charitable activities
General 2,666

Other 11,078
Total 115,784

NET INCOME 28,999


Priddy Folk Festival

Notes to the Financial Statements - continued
for the Year Ended 30th November 2023

6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
fund
£   

RECONCILIATION OF FUNDS
Total funds brought forward 35,897

TOTAL FUNDS CARRIED FORWARD 64,896

7. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1st December 2022 and
30th November 2023

434

DEPRECIATION
At 1st December 2022 288
Charge for year 146
At 30th November 2023 434
NET BOOK VALUE
At 30th November 2023 -
At 30th November 2022 146

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/11/23 30/11/22
£    £   
Accrued expenses 708 708

9. MOVEMENT IN FUNDS
Net
At movement At
1.12.22 in funds 30.11.23
£    £    £   
Unrestricted funds
General fund 64,896 16,936 81,832

TOTAL FUNDS 64,896 16,936 81,832

Priddy Folk Festival

Notes to the Financial Statements - continued
for the Year Ended 30th November 2023

9. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 158,120 (141,184 ) 16,936

TOTAL FUNDS 158,120 (141,184 ) 16,936


Comparatives for movement in funds

Net
At movement At
1.12.21 in funds 30.11.22
£    £    £   
Unrestricted funds
General fund 35,897 28,999 64,896

TOTAL FUNDS 35,897 28,999 64,896

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 144,783 (115,784 ) 28,999

TOTAL FUNDS 144,783 (115,784 ) 28,999

A current year 12 months and prior year 12 months combined position is as follows:

Net
At movement At
1.12.21 in funds 30.11.23
£    £    £   
Unrestricted funds
General fund 35,897 45,935 81,832

TOTAL FUNDS 35,897 45,935 81,832

Priddy Folk Festival

Notes to the Financial Statements - continued
for the Year Ended 30th November 2023

9. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 302,903 (256,968 ) 45,935

TOTAL FUNDS 302,903 (256,968 ) 45,935

10. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30th November 2023.