Charity Registration No. 1135167
Company Registration No. 3121538 (England and Wales)
BIG DIFFERENCE COMPANY LIMITED
TRUSTEES' REPORT AND ACCOUNTS
FOR THE PERIOD ENDED 29 JUNE 2024
SOMERBYS LIMITED
CHARTERED ACCOUNTANTS
30 NELSON STREET
LEICESTER
LE1 7BA
BIG DIFFERENCE COMPANY LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
E Anderson
Mr S J Brown
L Hailstone
R Kerr
J Kerry
R Kotecha
(Appointed 1 July 2023)
K Schurer
J Southworth
J Sutton
C Trail
Executive Officer
M Harris-Wakelam
Festival Director
C Laidet
Charity number
1135167
Company number
3121538
Principal address
LCB Depot
31 Rutland Street
Leicester
LE1 1RE
Registered office
30 Nelson Street
Leicester
LE1 7BA
Trading address
LCB Depot
31 Rutland Street
Leicester
LE1 1RE
Independent examiner
Marcus W Dockerty FCA FCCA
30 Nelson Street
Leicester
LE1 7BA
Bankers
Natwest Bank plc
P O Box
1 Granby Street
Leicester
LE1 9GT
Solicitors
Freeths
One Colton Square
Leicester
LE1 1QH
BIG DIFFERENCE COMPANY LIMITED
CONTENTS
Page
Trustees' report
1 - 4
Independent examiner's report
5
Statement of financial activities
6 - 7
Balance sheet
8
Notes to the financial statements
9 - 19
BIG DIFFERENCE COMPANY LIMITED
TRUSTEES' REPORT(INCLUDING DIRECTORS' REPORT)
FOR THE PERIOD ENDED 29 JUNE 2024
- 1 -

The trustees present their annual report and financial statements for the period ended 29 June 2024.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's governing document, the Companies Act 2006 and the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the financial reporting standard FRS102.

Administration Details
Big Difference Company Limited, is a registered Charity and a Company limited by guarantee. The liability of members is limited to £1.00 per member in the event of winding up. Its registered office is as shown on the Legal and Administrative Information page.
The Directors, who act as Trustees, are shown, together with the names of the principal external advisors, on the Legal and Administrative Information page.
Structure, governance and management
The governing document of the Charity is the Memorandum and Articles of Association incorporated on 2 November 1995 and amended by a special resolution on 13th January 2009.
Organisation
A board of Trustees, who meet quarterly, administer the Charity.  An Executive Officer is appointed by the Trustees to manage the day-to-day operations of the Charity.
The Trustees, who are also the directors for the purpose of company law, and who served during the year were:
K Schurer
E Anderson
J Kerry
L Hailstone
R Kerr
C Trail
J Southworth
J Sutton
S Brown
R Kotecha
(appointed 1 July 2023)
Policies and procedures for induction and training of Trustees
Trustees are invited to shadow up to 3 meetings before being inducted. When they join the board all trustees receive mentoring and support from the Chair of Trustees for their initial 12 months. They are invited to meet with the Executive Officer in advance of joining the board, and subsequent meetings for an update and briefing on current activity. Each Trustee is encouraged to take on specific responsibility within the Charity which could include sitting on a sub-group of the Board or working on fundraising, advocacy and strategic planning. All Trustees are trained in accordance with the guidance as specified in the governing documents and by the use of training materials made available by the Charity Commission.
BIG DIFFERENCE COMPANY LIMITED
TRUSTEES' REPORT(INCLUDING DIRECTORS' REPORT)
FOR THE PERIOD ENDED 29 JUNE 2024
- 2 -
Related parties
All related parties and transactions can be found in the notes to the Financial Statements.
Risk factors
The Trustees make use of risk assessment resources provided by the Charity Commission and have a risk management strategy which comprises:
1) an annual review of the risks associated with major projects and operational activity;
2) a risk assessment for major projects which are monitored at each quarterly board meeting;
3) the implementation of procedures designed to minimise impact on the charity should risks materialise;
4) responsibility for each action is clearly allocated to the Executive Officer or a Trustee.
Financial sustainability is the major risk for the Charity and attention continues to be paid to the long-term future and in particular the continued recovery from the Covid-19 pandemic and the associated restrictions this placed on the Charity's normal operating activities.
We continue to implement the strategic development of the charity and the Chief Executive, who joined us in April 2023 has been given the task of developing and implementing a new business plan and staffing re-structure for 2025 - 2028. The focus of this year has been consolidation after trading returns to normal post Covid and delivering successfully Leicester Comedy Festival and The UK Kids' Comedy Festival with a small amount of growth targeted. It is noted that a positive trend is emerging of the number of shows registered reaching or exceeding the same level as prior to the pandemic and ticket sales are also returning to a predictable pattern now that trading and confidence have returned to a normal level of expectation.
In particular this year the charity has been affected by the short notice withdrawal of a significant funder. We have, however, been able to partially mitigate the effect of this by implementing the changes set out in the charity's business plan.  The charity has also continued to explore additional funding streams and look at operational changes: for example this year we have taken the box office function in house enabling us to retain booking fees and increase our customer database – this has affected both income and expenditure but resulted in a net benefit which will continue on an ongoing basis.
However, the ongoing uncertainty in the live events sector in general continues to have had a considerable impact on the charity's ability to raise income from its programmed activities around ticket sales, festival fees and live event fundraisers. The charity are very grateful to our main funders, sponsors and members of our Business Partners Club for their continuing support which has sustained the charity and enabled delivery of the majority of our annual activities. It is noted that for the second year, we have had to delay one of our key fundraising projects due to ongoing maintenance work in the local area. We continue to engage with our delivery partners for this project with a view to delivering the public event as soon as the space is available. This is having an adverse effect on our short term income as the funding partner has to defer administering the secured grant while we await updates on availability and no suitable alternative site is available.
Our trading subsidiary Big Difference Productions Limited has continued to operate the live arts and entertainment venue, The Big Difference, in line with the charity's long term investment plans and positive contributions are expected in the long term from operating this space now that it is beginning to establish a regular set of events and see increasing demand for use. It also provides us with a base from which to carry out our charitable activities and a programme of year round opportunities to engage with local and emerging artists across multiple art forms.
It is clear that the continued pressures on disposable income for audiences and a move, within potential annual funding partners, to shorter term commitments is placing an increased pressure on delivering long term plans for the Charity. Discussions with longer term partners are positive including confirmation of multi-year support from the local university and continuation of annual support from the local authority for the coming year.
BIG DIFFERENCE COMPANY LIMITED
TRUSTEES' REPORT(INCLUDING DIRECTORS' REPORT)
FOR THE PERIOD ENDED 29 JUNE 2024
- 3 -
Objectives and activities
The Charity's objects remain the same and are:
1) to promote, maintain, improve and advance education by the encouragement of the arts;
2) to promote good health and wellbeing through the arts;
3) the advancement of the arts and culture for charitable purposes including through comedy and comedy performance.
Project Activity and Public Benefit
The Trustees confirm that they have complied with the duty in Section 4 of the Charities Act 2006 to have due regard to the Charity Commission's general guidance on public benefit.
They have referred to the guidance in the Charity Commission's general guidance on Public Benefit when reviewing aims and objectives and in planning future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set.  The Trustees ensure that these activities are carried out for the public benefit by delivering services that are valued by the people we support and enable those with responsibility in the sector to develop and adopt best practice, thereby promoting a transparent and efficiently managed charity that engenders public confidence and trust.
Big Difference Company undertakes a varied programme of work across the year, to support the delivery of the overall charitable objects.  These projects particularly help us meet the object “the advancement of the arts and culture for charitable purposes including through comedy and comedy performance”.
Achievements and performance
Fundraising activities
The Charity was able to retain its three main partners for the festivals in 2024, allowing the Charity to successfully deliver the festivals as planned. We have been informed that our support from one of these partners will not be renewed for 2025 and the executive leadership team are identifying ways to mitigate this impact for delivery. This includes identification of new sources of sponsorship, grant funding from additional sources and operation of our own central box office to increase donations and booking fee revenue.
We continue to see significant support for our Business Partners Club and this allows us unrestricted income to deliver our activities
Our partnership with Next Up continued and we are now able to provide an opportunity to expand our reach through permanently installed streaming infrastructure at The Big Difference to selected shows year round.
The BIG Weekend was hosted in Harborough District, in partnership with their district council and the UK Shared Prosperity Fund.
The Martin Trust administered a grant in support of The UK Kids' Comedy Festival to deliver a bespoke support package for a young person to shadow our Producer and learn more about the off stage experiences of the festival.
We have worked with Leicestershire Police and Leicestershire CMF to source funding to deliver Safer Spaces training for our venue partners across the city in areas such as The Good Night Out Campaign; Mental Health First Aid; and Active Bystander Awareness.
BIG DIFFERENCE COMPANY LIMITED
TRUSTEES' REPORT(INCLUDING DIRECTORS' REPORT)
FOR THE PERIOD ENDED 29 JUNE 2024
- 4 -
Our managed venue, The Big Difference, completed another uninterrupted year of trading and is contributing to our financial strategy.
Financial review
Review of activities
During the year the Charity had total incoming resources of £476,241 (2023: £326,566) and there was a net decrease in funds of £23,367 (2023: decrease of £110,948). The total restricted funds at the end of the period amounted to £398 (2023: £Nil), and unrestricted funds were in deficit by £74,357 (2023: £50,592 surplus). The notes to the accounts show unrestricted fixed assets of £1,555 and unrestricted investments of £1; free reserves, as defined by SORP 2005, were therefore in deficit by £75,913 at 29 June 2024.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the accounts comply with the Companies Act 2006.  They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Reserves policy
The charity has set itself a policy of maintaining unrestricted funds, which are the free reserves of the charity, at a level which equates to approximately three months expenditure. This policy is designed to provide the charity with sufficient funds to sustain its operations in the event of any changes to its funding streams and is aligned to Charity Commission recommended good practice. The reserves policy has not been met.
Principal funding sources
Big Difference Company receives a regular, annual grant from Leicester City Council. The grant is awarded to support the Leicester Comedy Festival. The Integrated Care Board also provides a grant for the same.
Plans for future periods
The trustees have successfully positioned the organisation as being an effective cultural charity which delivers a range of services and activities to help meet the objects. Despite the effects of the Pandemic and the overall economic climate, which has impacted on the charity itself, the organisation remains dynamic and energetic and there is a continuing sense of optimism both internally and with external partners and stakeholders. In the long term, our venue The Big Difference, should support the sustainability of the organisation as well as provide opportunities to develop the Charity's activities.
Trustees' responsibilities

The trustees, who are also the directors of Big Difference Company Limited for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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

J Kerry
Chairman
Dated: 27 June 2025
BIG DIFFERENCE COMPANY LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF BIG DIFFERENCE COMPANY LIMITED
- 5 -

I report to the trustees on my examination of the financial statements of Big Difference Company Limited (the charity) for the period ended 29 June 2024.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.

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

Independent examiner's statement

Since the charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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 that in any material respect:

1

accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.

2

the financial statements do not accord with those records; or

3

the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or

4

the financial statements 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 financial statements 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 financial statements to be reached.

Marcus W Dockerty FCA FCCA
Chartered Accountant
30 Nelson Street
Leicester
LE1 7BA
Dated: 27 June 2025
BIG DIFFERENCE COMPANY LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE PERIOD ENDED 29 JUNE 2024
- 6 -
Current financial year
Unrestricted
Restricted
Total
Total
funds
funds
2024
2024
2024
2023
Notes
£
£
£
£
Income and endowments from:
Donations and legacies
12,553
-
12,553
3,795
Charitable activities
3
325,160
80,590
405,750
273,970
Other trading activities
4
46,645
9,925
56,570
46,673

Investments

5
362
-
362
163
Other income
6
1,006
-
1,006
1,965
Total income
385,726
90,515
476,241
326,566
Expenditure on:
Charitable activities
7
409,491
90,117
499,608
437,514
Net (expenditure)/income for the year/
Net movement in funds
(23,765)
398
(23,367)
(110,948)
Fund balances at 1 July 2023
(50,592)
-
(50,592)
60,356
Fund balances at 29 June 2024
(74,357)
398
(73,959)
(50,592)

The statement of financial activities includes all gains and losses recognised in the period.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
BIG DIFFERENCE COMPANY LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE PERIOD ENDED 29 JUNE 2024
- 7 -
Prior financial year
Unrestricted
Restricted
Total
funds
funds
2023
2023
2023
Notes
£
£
£
Income and endowments from:
Donations and legacies
3,794
-
3,794
Charitable activities
3
235,113
38,857
273,970
Other trading activities
4
46,673
-
46,673

Investments

5
163
-
163
Other income
6
1,965
-
1,965
Total income
287,709
38,857
326,566
Expenditure on:
Charitable activities
7
398,657
38,857
437,514
Net (expenditure)/income for the year/
Net movement in funds
(110,948)
-
(110,948)
Fund balances at 1 July 2022
60,356
-
60,356
Fund balances at 30 June 2023
(50,592)
-
(50,592)

The statement of financial activities includes all gains and losses recognised in the period.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
BIG DIFFERENCE COMPANY LIMITED
BALANCE SHEET
AS AT 29 JUNE 2024
29 June 2024
- 8 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
12
1,555
3,151
Investments
13
1
1
1,556
3,152
Current assets
Debtors
15
62,591
44,991
Cash at bank and in hand
1,843
19,717
64,434
64,708
Creditors: amounts falling due within one year
16
(130,294)
(98,574)
Net current liabilities
(65,860)
(33,866)
Total assets less current liabilities
(64,304)
(30,714)
Creditors: amounts falling due after more than one year
17
(9,655)
(19,878)
Net liabilities
(73,959)
(50,592)
The funds of the charity
Restricted income funds
21
398
-
Unrestricted funds
20
(74,357)
(50,592)
(73,959)
(50,592)

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the period ended 29 June 2024.

The directors acknowledge their 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 27 June 2025
J Kerry
Chairman
Company registration number 3121538 (England and Wales)
BIG DIFFERENCE COMPANY LIMITED
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 JUNE 2024
- 9 -
1
Accounting policies
1.1
Accounting convention

The accounts 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)” (as amended for accounting periods commencing from 1 January 2016). 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 accounts have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

These financial statements have been prepared on the going concern basis. In conducting their review, the trustees have considered a period of 12 months from the date of approval of the accounts. Having made their assessment of the financial and operational position, the trustees have a reasonable expectation that the charity has adequate sources of funding in place to continue as a going concern.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity.

 

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donors or which have been raised by the Charity for specific purposes. The costs of administering such funds are charged against the specific fund.

1.4
Incoming resources

Donations, legacies and other forms of voluntary income are recognised as incoming resources when receivable, except in so far as they are incapable of financial measurement. Deferred income represents amounts received for future periods and is released to incoming resources in the period for which it has been received.

1.5
Resources expended

All expenditure, including grants payable, is included on an accrual basis.

1.6
Tangible fixed assets

Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets, less their residual values, over their useful lives on the following bases:

Fixtures & fittings
20% per annum of net book value
Computer equipment
33% per annum on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

BIG DIFFERENCE COMPANY LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 JUNE 2024
1
Accounting policies
(Continued)
- 10 -
1.7
Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

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.

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.

1.10

Taxation

The company is a registered charity and thus is exempt from taxation on its income and capital gains.

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.

Critical judgements

There are no critical judgements (apart from those involving estimates) in applying the charity's accounting policies.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are:

Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets.

BIG DIFFERENCE COMPANY LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 JUNE 2024
- 11 -
3
Charitable activities
Grants
Ticket sales and participation fees
Project income
Total
2024
Total
2023
£
£
£
£
£
Sales within charitable activities
-
299,555
16,092
315,647
240,127

Grants

80,590
-
-
80,590
26,357

Membership income

-
9,513
-
9,513
9,450
80,590
309,068
16,092
405,750
275,934
Analysis by fund
Unrestricted funds
-
309,067
16,093
325,160
237,077
Restricted funds
80,590
-
-
80,590
38,857
80,590
309,067
16,093
405,750
275,934
For the period ended 30 June 2023
Unrestricted funds
(12,500)
177,219
70,394
235,113
Restricted funds
38,857
-
-
38,857
26,357
177,219
70,394
273,970
4
Other trading activities
2024
2024
2024
2023
£
£
£
£
Unrestricted
Restricted
Total
Unrestricted

Advertising and sponsorship income

46,645
9,925
56,570
46,673
5
Income from investments
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Interest received
362
163
BIG DIFFERENCE COMPANY LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 JUNE 2024
- 12 -
6
Other income
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Other income
1,006
1,965
7
Charitable activities
2024
2023
£
£
Unrestricted
Staff costs
149,282
200,405
Depreciation & profit/loss on disposals
1,763
2,409

Rent and rates

3,416
6,923

Insurance

4,104
4,704

Light and heat

636
296

Telephone and fax

810
714

Travel and subsistence

9,137
8,208

Bank charges

728
773

Sundry expenses

4,608
3,496

Computer expenses

3,453
3,491

Bad and doubtful debts

978
2,725

Printing, postage and stationery

265
565
Project, promotion and production costs
202,450
106,936

Governance costs

4,850
4,100

Legal and professional

2,195
5,000

Artist fees

19,384
46,143
Donations
793
885
Loan interest paid
639
884
409,491
398,657
Restricted
Staff costs
40,106
10,607
Project, promotion and production costs
46,842
28,250
Artist fees
3,169
-
90,117
38,857
Analysis by fund
Unrestricted funds
409,491
398,657
Restricted funds
90,117
38,857
499,608
437,514
BIG DIFFERENCE COMPANY LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 JUNE 2024
- 13 -
8
Net movement in funds
2024
2023
£
£
The net movement in funds is stated after charging/(crediting):
Fees payable to the charity's independent examiner:
- for the independent examination of the charity's financial statements
3,200
3,135
- for other financial services
1,650
965
Depreciation of owned tangible fixed assets
1,763
2,409
9
Trustees

None of the trustees (or any persons connected with them) received any remuneration during the period, and no one was reimbursed any expenses.

10
Employees
Number of employees

The average number of employees during the period was:

2024
2023
Number
Number
Employees
6
9
Employment costs
2024
2023
£
£
Wages and salaries - unrestricted
144,638
195,341
Wages and salaries - restricted
40,106
10,607
Other pension costs
4,644
5,064
189,388
211,012

Total remuneration and benefits paid to key management personnel during the year totalled £54,465 (2023 - £37,369).

 

There were no employees whose annual remuneration was £60,000 or more.
11
Taxation

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

BIG DIFFERENCE COMPANY LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 JUNE 2024
- 14 -
12
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
£
£
£
Cost
At 1 July 2023
8,898
22,175
31,073
Additions
167
-
167
At 29 June 2024
9,065
22,175
31,240
Depreciation and impairment
At 1 July 2023
8,215
19,707
27,922
Depreciation charged in the period
169
1,594
1,763
At 29 June 2024
8,384
21,301
29,685
Carrying amount
At 29 June 2024
681
874
1,555
At 30 June 2023
683
2,468
3,151
13
Fixed asset investments
2024
2023
Notes
£
£
Investments in subsidiaries
14
1
1

The company holds 100% of the issued share capital of Big Difference Productions Limited, a company incorporated in England and Wales. The principal activity of Big Difference Productions Limited is artistic creation.

 

 

14
Subsidiaries
Name of undertaking
Registered
Nature of business
Class of
% Held
office
shares held
Direct
Indirect
Big Difference Productions Limited
UK
Artistic creation
Ordinary
100.00
The aggregate capital and reserves and the result for the year of subsidiaries excluded from consolidation was as follows:
Name of undertaking
Profit/(Loss)
Capital and Reserves
£
£
Big Difference Productions Limited
953
(9,211)
BIG DIFFERENCE COMPANY LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 JUNE 2024
- 15 -
15
Debtors
2024
2023
£
£
Trade debtors
36,159
16,835
Amounts due from group undertakings
20,659
24,808
Other debtors
5,773
130
Prepayments and accrued income
-
3,218
62,591
44,991
16
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Bank loans
18
10,227
10,013
Other taxation and social security
2,585
8,153
Trade creditors
51,954
44,827
Other creditors
8,182
4,291
Accruals
57,346
31,290
130,294
98,574
17
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
18
9,655
19,878
18
Loans and overdrafts
2024
2023
£
£
Bank loans
19,882
29,891
Payable within one year
10,227
10,013
Payable after one year
9,655
19,878
BIG DIFFERENCE COMPANY LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 JUNE 2024
- 16 -
19
Deferred income
Grant
Other
2024
2023
income
deferred
income
Total
Total
Opening balance
18,000
9,462
27,462
-
Invoiced in the year
18,000
19,090
37,090
65,912
Released to incoming resources
(18,000)
(9,462)
(27,462)
(38,450)
Closing balance
18,000
19,090
37,090
27,462
20
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 1 July 2023
Incoming resources
Resources expended
At 29 June 2024
£
£
£
£
General funds
(50,592)
385,726
(409,491)
(74,357)
Previous year:
At 1 July 2022
Incoming resources
Resources expended
At 30 June 2023
£
£
£
£
General funds
60,356
287,709
(398,657)
(50,592)
BIG DIFFERENCE COMPANY LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 JUNE 2024
- 17 -
21
Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

Movement in funds
Movement in funds
Incoming Resources
Resources Expended
Balance at
1 July 2023
Incoming Resources
Resources Expended
Balance at
29 June 2024
£
£
£
£
£
£
Leicester City Council - Leicester Comedy Festival Grant
24,000
(24,000)
-
24,000
(24,000)
-
Integrated Care Board - Kids Festival
-
-
-
50,000
(49,602)
398
BID Leicester Sponsorship
-
-
-
9,925
(9,925)
-
Martins Trust Income
-
-
-
1,400
(1,400)
-
Leicestershire Police
-
-
-
2,190
(2,190)
-
Leicestershire CMF
-
-
-
3,000
(3,000)
-
Haz Grant
4,250
(4,250)
-
-
-
-
The Mighty Creative Grant
10,607
(10,607)
-
-
-
-
38,857
(38,857)
-
90,515
(90,117)
398

The above restricted funds were received to deliver the following projects:

 

Leicester Comedy Festival – grant for funding to support the production of the Leicester Comedy Festival.

 

Integrated Care Board - grant to develop the interest of comedy in young people by support emerging talents and fostering wellbeing. To support venues and performers to be accessible and inclusive for all ages and to engage with community groups, businesses and organisations to encourage them to use the Leicester Comedy Festival to promote themselves.

 

Leicestershire Police - grant to deliver safer spaces training delivery for venue partners through industry partners in accessibility covering Innocent Bystanders Awareness and ''Good Night Out'' campaigns.

 

Leicester CMF - grant to provide mental health first aid training for venue partners through an industry provider.

 

BID Leicester - grant to support street branding for the Leicester Comedy Festival with the aim of raising the profile of Leicester and the city centre.

 

The Martins Trust Grant - grant to support a training scheme for a young person to shadow The Kids' Comedy Festival Producer and attend Laugh Academy.

 

Haz Grant - grant to fund a series of workshops to engage children, young people and their families and to highlight and develop the work Big Difference does in conjunction with them, including The UK Kids’ Comedy Festival. It involved staging four x 2 hour drop-in cartooning workshops for children and young people as part of The UK Kids’ Comedy Festival 2022 and Laugh In The Caff during August 2022.

 

The Mighty Creative Grant - grant issued to Big Difference Company to fund the appointment of 3 x Kickstart Interns who worked for 6 months each within the organisation . There were 3 positions – Finance, Marketing and Festival Operations .

BIG DIFFERENCE COMPANY LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 JUNE 2024
- 18 -
22
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2024
2024
2024
£
£
£
At 29 June 2024:
Tangible assets
1,555
-
1,555
Investments
1
-
1
Current assets/(liabilities)
(66,258)
398
(65,860)
Long term liabilities
(9,655)
-
(9,655)
(74,357)
398
(73,959)
Unrestricted
Restricted
Total
funds
funds
2023
2023
2023
£
£
£
At 30 June 2023:
Tangible assets
3,151
-
3,151
Investments
1
-
1
Current assets/(liabilities)
(33,866)
-
(33,866)
Long term liabilities
(19,878)
-
(19,878)
(50,592)
-
(50,592)
BIG DIFFERENCE COMPANY LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 JUNE 2024
- 19 -
23
Operating lease commitments

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2024
2023
£
£
Within one year
8,564
7,136
Between two and five years
8,564
-
17,128
7,136
24
Related party transactions

During the period advertising income of £893 was received from Freeths LLP . (2023 - £906). E Anderson, a trustee of Big Difference Company Ltd, is a director of Freeths LLP.

 

During the period booking income of £70 was received from the University of Leicester of which K Schurer is an employee.

 

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