Charity registration number 518744
Company registration number 02194725 (England and Wales)
CEDARWOOD FESTIVAL LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JANUARY 2025
CEDARWOOD FESTIVAL LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr D E G Stretton-Downes
Mr S Pattisson
Mr D Benjamin
Mrs V Neville
Mrs Pamela Birtle
Charity number
518744
Company number
02194725
Accountants
Stephen Lamb, FCA
12 Bessemer Court
Hownsgill Industrial Park
Knitsley Lane
Consett
Co Durham
DH8 7BL
CEDARWOOD FESTIVAL LIMITED
CONTENTS
Page
Trustees' report
1 - 2
Accountants' report
3
Statement of financial activities
4
Balance sheet
5
Notes to the financial statements
6 - 12
CEDARWOOD FESTIVAL LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE PERIOD ENDED 30 JANUARY 2025
- 1 -

The trustees present their annual report and financial statements for the period ended 30 January 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "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

The objects of the Charity are to encourage gatherings of all generations and expressions of the Church to worship Jesus in unity. This is to be achieved by a 24/7 approach to worship, prayer, mission and bible teaching.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

In July 2024, the Cedarwood Festival 2024 was held - an independent festival - gathering all generations and expressions to worship Jesus in unity. The 2024 festival was held at Thorp Perrow, North Yorkshire, in the north of England. The weekend festival was backed by all the major denominations and included corporate worship, biblical teaching, practical workshops, after hours activities for all ages, 24-7 prayer and worship and a full children's and youth programme.

 

The Charity hopes that attendees to the Festival will come away inspired, encouraged and equipped to join in the call to see the nations transformed in the name of Jesus.

Financial review

As disclosed in the notes to the accounts the charity has changed its accounting year-end date. The financial year-end date of 30th July has been extended this reporting period to 30th January.

 

The results for the long financial period are set out in the Statement of Financial Activities.

 

Overall, the Company received income totalling £91,430 (2023 £79,709) with expenditure on charitable activities of £74,535 (2023 £86,041), resulting in an excess of income over expenditure for the period ended 30 January 2025 of £16,622 (2023 excess of expenditure £6,681).

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between one and four month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the period.

 

The unrestricted funds as at the year end, represented by the net current assets were £4,109 (2023: Deficit £12,513).

 

 

CEDARWOOD FESTIVAL LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE PERIOD ENDED 30 JANUARY 2025
- 2 -

Risk Management

 

The Trustees have a risk management strategy which comprises:

 

* a regular review of the risks that the Charity faces;

* an established system of procedures to mitigate those risks identified; and

* the implementation of procedures designed to minimise any potential impact.

 

The Trustees have identified the major risks to which they believe the Charity is exposed and hope to be able to establish procedures in order to manage such risks to an acceptable level.

The Trustees intend for annual Cedarwood Festivals to be held and are actively seeking funding and sponsorship.

Structure, governance and management

The charity is controlled by its governing document, a memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

 

The trustees, who are also the directors for the purpose of company law, and who served during the period and up to the date of signature of the financial statements were:

Mr D E G Stretton-Downes
Mr Glen Macknight
(Resigned 26 September 2024)
Mr S Pattisson
Mr D Benjamin
Mrs V Neville
Mrs Pamela Birtle

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up. As set out in the governing document, new trustees are presented to the existing board annually at the AGM.

The trustees' report was approved by the Board of Trustees.

Mr D E G Stretton-Downes
Trustee
Dated: 2 May 2025
CEDARWOOD FESTIVAL LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF CEDARWOOD FESTIVAL LIMITED FOR THE PERIOD ENDED 30 JANUARY 2025
- 3 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cedarwood Festival Limited for the period ended 30 January 2025, which comprise the statement of financial activities and the related notes from the charity’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made to the charity's trustees, as a body, in accordance with the terms of our engagement letter dated 11 November 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Cedarwood Festival Limited and state those matters that we have agreed to state to the charity's trustees, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cedarwood Festival Limited and the charity's trustees as a body, for our work or for this report.

It is your duty to ensure that Cedarwood Festival Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and surplus of Cedarwood Festival Limited. You consider that Cedarwood Festival Limited is exempt from the statutory audit requirement for the period, and is not required to obtain an independent examiner's report.

We have not been instructed to carry out an audit or a review of the financial statements of Cedarwood Festival Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Stephen Lamb, FCA
2 May 2025
Chartered Accountants
12 Bessemer Court
Hownsgill Industrial Park
Knitsley Lane
Consett
Co Durham
DH8 7BL
CEDARWOOD FESTIVAL LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE PERIOD ENDED 30 JANUARY 2025
- 4 -
Unrestricted
Unrestricted
funds
funds
2025
2023
Notes
£
£
Income from:
Donations and legacies
3
34,257
36,100
Charitable activities
4
57,173
43,609
Total income
91,430
79,709
Expenditure on:
Raising funds
5
273
349
Charitable activities
6
74,535
86,041
Total expenditure
74,808
86,390
Net income/(expenditure) and movement in funds
16,622
(6,681)
Reconciliation of funds:
Fund balances at 31 July 2023
(12,513)
(5,832)
Fund balances at 30 January 2025
4,109
(12,513)

The statement of financial activities includes all gains and losses recognised in the period. All income and expenditure derive from continuing activities.

CEDARWOOD FESTIVAL LIMITED
BALANCE SHEET
AS AT
30 JANUARY 2025
30 January 2025
- 5 -
2025
2023
Notes
£
£
£
£
Current assets
Debtors
12
-
2,173
Cash at bank and in hand
6,837
270
6,837
2,443
Creditors: amounts falling due within one year
13
(2,728)
(14,956)
Net current assets/(liabilities)
4,109
(12,513)
Net assets excluding pension liability
4,109
(12,513)
The funds of the charity
Unrestricted funds
4,109
(12,513)
4,109
(12,513)

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the period ended 30 January 2025.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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

The financial statements were approved by the trustees on 2 May 2025
Mr D E G Stretton-Downes
Trustee
Company registration number 02194725 (England and Wales)
CEDARWOOD FESTIVAL LIMITED
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JANUARY 2025
- 6 -
1
Accounting policies
Charity information

Cedarwood Festival Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is .

1.1
Reporting period

The ccharity has changed its accounting year-end date. The financial year-end date of 30th July has been extended this reporting period to 30th January. The charity has implemented this change in order to align its reporting cycle more effectively with its operational activities, thereby enhancing the quality of the financial information presented.

 

As a result of this change, the comparability of financial information and notes to previous periods may be affected.

1.2
Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "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)". The charity is a Public Benefit Entity as defined by FRS 102.

 

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
CEDARWOOD FESTIVAL LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JANUARY 2025
1
Accounting policies
(Continued)
- 7 -
1.5
Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
1.6
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.7
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

CEDARWOOD FESTIVAL LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JANUARY 2025
1
Accounting policies
(Continued)
- 8 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.9
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

CEDARWOOD FESTIVAL LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JANUARY 2025
- 9 -
3
Income from donations and legacies
Unrestricted
Unrestricted
funds
funds
2025
2023
£
£
Donations and gifts
34,257
36,100
4
Income from charitable activities
Unrestricted
Unrestricted
funds
funds
2025
2023
£
£
Christian Arts Festivals

Bookings

57,173
43,609
5
Expenditure on raising funds
Unrestricted
Unrestricted
funds
funds
2025
2023
£
£
Fundraising and publicity
Other fundraising costs
273
349
CEDARWOOD FESTIVAL LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JANUARY 2025
- 10 -
6
Expenditure on charitable activities
Christian Arts Festivals
Christian Arts Festivals
2025
2023
£
£
Direct costs

Site and other Festival costs

66,166
77,238

Insurance

729
2,210

Marketing

607
292

Donations

-
59
67,502
79,799
Share of support and governance costs (see note 7)
Support
6,084
5,360
Governance
949
882
74,535
86,041
Analysis by fund
Unrestricted funds
74,535
86,041
7
Support costs allocated to activities
2025
2023
£
£
Website & Social Media
3,391
1,797
Posatge and Stationary
897
1,244
Travel
1,541
2,001
Sundries
255
318
Governance costs
949
882
7,033
6,242
Analysed between:
Christian Arts Festivals
7,033
6,242
8
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the period.
CEDARWOOD FESTIVAL LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JANUARY 2025
- 11 -
9
Employees

The average monthly number of employees during the period was:

2025
2023
Number
Number
Total
-
0
-
0
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel

The remuneration of key management personnel was as follows:

10
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

11
Net movements in funds

Net movements in funds are stated after charging £949 (2023 £792) for the independent examination of the financial statements.

12
Debtors
2025
2023
Amounts falling due within one year:
£
£
Trade debtors
-
2,173
13
Creditors: amounts falling due within one year
2025
2023
Notes
£
£
Deferred income
14
1,768
-
Trade creditors
-
13,422
Other creditors
-
10
Accruals and deferred income
960
1,524
2,728
14,956
CEDARWOOD FESTIVAL LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JANUARY 2025
- 12 -
14
Deferred income
2025
2023
£
£
Other deferred income
1,768
-

Deferred income is included in the financial statements as follows:

2025
2023
£
£
Deferred income is included within:
Current liabilities
1,768
-
Movements in the period:
Deferred income at 31 July 2023
-
-
Resources deferred in the period
1,768
-
Deferred income at 30 January 2025
1,768
-
15
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 31 July 2023
Incoming resources
Resources expended
At 30 January 2025
£
£
£
£
General funds
(12,513)
91,430
(74,808)
4,109
Previous year:
At 31 July 2022
Incoming resources
Resources expended
At 30 July 2023
£
£
£
£
General funds
(5,832)
79,709
(86,390)
(12,513)
16
Related party transactions

There were no disclosable related party transactions during the period (2023 - none).

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