| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| Report of the Trustees and |
| Financial Statements for the Year Ended 31 December 2024 |
| for |
| Borders Book Festival |
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| Report of the Trustees and |
| Financial Statements for the Year Ended 31 December 2024 |
| for |
| Borders Book Festival |
| Borders Book Festival |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2024 |
| Page |
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 | to | 8 |
| Notes to the Financial Statements | 9 | to | 16 |
| Borders Book Festival (Registered number: SC296476) |
| Report of the Trustees |
| for the Year Ended 31 December 2024 |
| 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 31 December 2024. 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). |
| The financial statements also comply with the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). |
| OBJECTIVES AND ACTIVITIES |
| Objectives and aims |
| The Company was established to: |
| (i) promote the arts for the benefit of the public, and in particular to encourage and develop public participation and interest in the cultural and social heritage of the Borders Region; |
| (ii) present public readings and other artistic performances at the annual Borders Book Festival or elsewhere, for the benefit of the local and general public; |
| (iii) support and encourage authors, writers and other practitioners of the arts by providing them with the opportunity to perform or display their talents at the annual Borders Book Festival or elsewhere; |
| (iv) establish and promote international, national and regional exchanges of ideas and information in relation to the arts, by lectures, performances, displays and otherwise in suitable public venues. |
| Background |
| The Borders Book Festival began in 2004 as an unincorporated entity with the purpose of arranging annual literary festivals in Melrose. It acted originally in conjunction with the Melrose Arts Trust, an existing charitable trust operating a small theatre in Melrose. In February 2006, the Borders Book Festival was incorporated as a separate and independent charitable company with its own Board of Trustees. |
| The company owns no land or buildings and for its office needs it rents basement premises in Harmony House, Melrose. This was under a five-year agreement with the owners, the National Trust for Scotland, which expired during this year under review. Negotiations to extend this lease are on-going and the trustees are confident that these will be concluded shortly. |
| A separate agreement also allows the company to use the whole of Harmony House and Gardens in Melrose for a week each year for its annual book festival, against payment to the National Trust for Scotland of agreed fees and reimbursement of certain costs. |
| Borders Book Festival (Registered number: SC296476) |
| Report of the Trustees |
| for the Year Ended 31 December 2024 |
| ACHIEVEMENTS AND PERFORMANCE |
| It is always a pleasure to reflect upon a successful twelve months for the Borders Book Festival, but never less so than when it has been achieved despite challenges both unexpected and more predictable. In 2024, the most significant of these was the surprise General Election called for July. This resulted in a number of last minute cancellations as some of those due to appear headed out on the campaign trail. Fortunately there is little which can faze our two highly experienced directors, Paula Ogilvie and Alistair Moffat, and their resourcefulness ensured the final programme of events was every bit as entertaining, educational, insightful and varied as previous line-ups. Indeed, the 2024 festival saw record-breaking ticket sales, as people from all over the country came to see the likes of Louise Minchin, Philippa Langley, Patrick Grant, Janey Godley, and Tan Twan Eng. 15,128 tickets were issued compared with 14,892 in 2023, increasing sales from £150,365 to £153,333. |
| Unfortunately, after several gloriously sunny festivals, the Scottish weather reasserted itself and frequent heavy downpours meant footfall was down by nearly a quarter, impacting revenues at the food and drink village located in the Orchard. Despite this, the festival still contributed an estimated £2.95million to the local economy. |
| A particular highlight of this year's festival was The Bloom Media project, which gave eight young people from the Scottish Borders an opportunity to gain practical experience in content creation, media production, and journalism. The aims of the initiative are to nurture talent and develop skills, and during this year's festival the young participants had a chance to learn from top industry professionals, including amongst others Sally Magnusson, Stephen Jardine and Clive Myrie. The project was funded by the Gannochy Trust, Scottish Borders Council, and HR Creswick Charitable Trust. |
| The annual Schools Day returned to Hawick this year, with around 1,200 children making use of subsidised bus travel to see some star children's writers. Cressida Cowell, Vivian French, Alastair Chisholm, and The Beano all made stand-out appearances. We were fortunate to work with the SBC's Inspire Learning team once again this year, ensuring events could be live-streamed to the 500 children who took part remotely. In a first for the Schools Day, there was an event for senior school pupils, with 40 taking part in a poetry writing workshop. The event was very popular and we hope to expand our provision for secondary school pupils going forward. |
| We remain hugely grateful to our sponsors and funders for their ongoing commitment and generosity. It is because of their support that we can produce an inclusive and diverse festival, with a programme designed to expand the literary experience of as many people as possible, irrespective of age, ability, or economic background. The festival's relationship with Baillie Gifford came to an end this year. As our principal sponsor for many years, Baillie Gifford's contribution, both financial and otherwise, to the festival's continuing success cannot be overstated. They were a much-valued partner in 2024, along with other main commercial supporters including Adam & Company and Cullen Kilshaw. We continue our efforts to develop further such relationships for 2025 and beyond. |
| The festival was once again supported by Scottish Borders Council. The festival has benefited from SBC's support since its inception, and we look forward to the continuation of this vitally important relationship. We are also very grateful to Creative Scotland, EventScotland, and other public sector partners for their substantial contributions. |
| Lastly, and most importantly, the Board would like to thank the many volunteers who gave up their time in 2024 and who helped make this year's festival possible. It is our volunteers who make the Borders Book Festival special, and a celebratory, not-to-be-missed experience for authors and audiences alike. |
| The professionalism of our directors, the support of the community both local and further afield, the commitment of our private and public sectors partners, and the prudent, long-term management of costs, has seen the festival continue to operate on a sound financial basis. The Board is confident that the festival remains as well-placed as ever to deliver its charitable objectives long into the future. |
| Borders Book Festival (Registered number: SC296476) |
| Report of the Trustees |
| for the Year Ended 31 December 2024 |
| FINANCIAL REVIEW |
| Financial position |
| Sponsorship income has continued to play a vital role in keeping the festival on a sound financial footing. However, with the ending of the Baillie Gifford sponsorship, and the wider issues affecting the fund-raising climate, it proved difficult to replace the previous level of sponsorship. The net effect was a decrease from £81,900 in 2023 to £65,300 in 2024. |
| The contribution from our public sector partners continues to be critical to our ability to put on the festival, but this also reduced, from £95,000 to £93,000. We remain very appreciative of this key source of funding. |
| We were able to offset the reduced funding from sponsorship and public sector partners with increased support from Festival Friends' subscriptions and donations, and a separate stream of funding, for strategic initiatives, from Benefactors (which is discussed further in the 'Reserves' section below). This meant that the festival's total revenue increased from £436,311 in 2023 to £499,387 in 2024. |
| The festival keeps costs under constant review to ensure they are kept in line with forecast income. Prudent budgeting has previously ensured that the festival at least breaks even despite event and running costs becoming much higher. This year, unfortunately, our costs exceeded income to the tune of £23,208 and we have been required to draw on the separate fund provided by Benefactors'. |
| We continue to explore opportunities to develop 'out of festival events' that are self-funding in order to improve our financial resilience, in line with the Board's policy as set out below. |
| Reserves policy |
| As reported last year, the board's policy is to build up financial reserves to underpin the festival's financial resilience. |
| The trustees' aim is to establish six months' of working capital, excluding event costs, in reserves. In addition, the trustees have focused on securing additional source of funds for strategic initiatives (ie either investment or expenditure programmes which require more than a single year's commitment) and, as necessary, to underpin the festival's financial resilience. |
| To this end a programme of events was undertaken to attract Benefactors to create a fund restricted to these purposes. We are happy to report that this has been successful and where individuals have committed to the fund, this income has been treated as 'restricted' and is reflected in these accounts. |
| FUTURE PLANS |
| Looking to the future, trustees remain committed to maintaining the festival's significant contribution to the cultural life of the Scottish Borders and the strong economic impact it has on the region. In addition, the board will continue to ensure that the festival is delivered sustainably and that it is inclusive, so that people from all parts of the Borders continue to share the experience. |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| Governing document |
| Borders Book Festival is a charitable company limited by guarantee incorporated on 2 February 2006 and governed by its Memorandum and Articles of Association. |
| Organisational structure |
| Management is carried out by a Board of Trustees which meets regularly. The administration of the festival throughout the year is undertaken by self-employed part-time consultants. Additional personnel are contracted on a short-term basis around the time of the annual Borders Book Festival held in June in Melrose. |
| The trustees seek to ensure that the board is at all times composed of individuals with appropriate experience and capabilities to conduct the expanding activities of Borders Book Festival. During 2024 the number of trustees remained consistent with the previous year with seven individuals. |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| Registered Company number |
| Borders Book Festival (Registered number: SC296476) |
| Report of the Trustees |
| for the Year Ended 31 December 2024 |
| Registered Charity number |
| Registered office |
| Trustees |
| Independent Examiner |
| Sheila Robertson |
| Gall Robertson CA |
| Tweedside Park |
| Tweedbank |
| Galashiels |
| Selkirkshire |
| TD1 3TE |
| Approved by order of the board of trustees on |
| Independent Examiner's Report to the Trustees of |
| Borders Book Festival |
| I report on the accounts for the year ended 31 December 2024 set out on pages six to sixteen. |
| Respective responsibilities of trustees and examiner |
| The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention. |
| Basis of the independent examiner's report |
| My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. |
| Independent examiner's statement |
| In connection with my examination, no matter has come to my attention : |
| (1) | which gives me reasonable cause to believe that, in any material respect, the requirements |
| - | to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and |
| - | to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations |
| have not been met; or |
| (2) | to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. |
| Sheila Robertson |
| The Institute of Chartered Accountants of Scotland |
| Gall Robertson CA |
| Tweedside Park |
| Tweedbank |
| Galashiels |
| Selkirkshire |
| TD1 3TE |
| 28 August 2025 |
| Borders Book Festival |
| Statement of Financial Activities |
| (Incorporating an Income and Expenditure Account) |
| for the Year Ended 31 December 2024 |
| 31.12.24 | 31.12.23 |
| Unrestricted | Restricted | Total | Total |
| fund | funds | funds | funds |
| Notes | £ | £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies | 2 |
| Charitable activities | 4 |
| Investment income | 3 |
| Total |
| EXPENDITURE ON |
| Charitable activities | 5 |
| Other |
| Total |
| NET INCOME/(EXPENDITURE) | ( |
) |
| Transfers between funds | 14 | 35,000 | (35,000 | ) | - | - |
| Net movement in funds |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 20,596 |
| Borders Book Festival (Registered number: SC296476) |
| Balance Sheet |
| 31 December 2024 |
| 31.12.24 | 31.12.23 |
| Unrestricted | Restricted | Total | Total |
| fund | funds | funds | funds |
| Notes | £ | £ | £ | £ |
| CURRENT ASSETS |
| Debtors | 11 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 12 | ( |
) | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| ACCRUALS AND DEFERRED INCOME | 13 | ( |
) | ( |
) | ( |
) |
| NET ASSETS |
| FUNDS | 14 |
| Unrestricted funds | 11,396 |
| Restricted funds | 9,200 |
| TOTAL FUNDS | 20,596 |
| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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. |
| Borders Book Festival (Registered number: SC296476) |
| Balance Sheet - continued |
| 31 December 2024 |
| 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 |
| Borders Book Festival |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2024 |
| 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. |
| Going Concern |
| The directors have assessed a period of 12 months from the date of approval of the financial statements and consider that no material uncertainties exist that cast significant doubt about the ability of the company to continue as a going concern. Thus the directors adopt the going concern basis of accounting in preparing the financial statements. |
| 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. Specifically, subscriptions are accounted for on an annual basis and event income, including sponsorship is recognised when the event has been completed. |
| 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. |
| Computer equipment | - |
| Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates. |
| An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss. |
| Impairment |
| A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. |
| Borders Book Festival |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 1. | ACCOUNTING POLICIES - continued |
| Tangible fixed assets |
| When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. |
| 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. |
| Provisions |
| Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. |
| Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises. |
| 2. | DONATIONS AND LEGACIES |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Donations |
| Subscriptions |
| Grants | 112,000 | 109,700 |
| 3. | INVESTMENT INCOME |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Interest receivable - trading | 37 | 818 |
| Borders Book Festival |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 4. | INCOME FROM CHARITABLE ACTIVITIES |
| 31.12.24 | 31.12.23 |
| Activity | £ | £ |
| Ticket and book sales | Other charitable income | 209,399 | 195,663 |
| Sponsorships | Other charitable income | 111,300 | 81,900 |
| Food village income | Other charitable income | 19,415 | 15,225 |
| Schools gala day | Other charitable income | 1,690 | 1,828 |
| 5. | CHARITABLE ACTIVITIES COSTS |
| Direct |
| Costs |
| £ |
| Cost of goods sold and other costs | 466,028 |
| 6. | SUPPORT COSTS |
| Governance |
| Finance | Other | costs | Totals |
| £ | £ | £ | £ |
| Other resources expended | 1,603 | 16,222 | 2,869 | 20,694 |
| 7. | TRUSTEES' REMUNERATION AND BENEFITS |
| The board has established a Remuneration Sub Committee (RSC) which comprises Michael Moore, who chairs it, Susan Windram and Jim Hutchison. None of these trustees receives any form of remuneration from the festival. The RSC independently sets overall remuneration policy, determines the amounts to be paid to principal consultants, Alistair Moffat and Paula Ogilvie, who are trustees as noted above, and is responsible for related matters as appropriate. |
| During the year under review the board approved payments to two directors (Alistair Moffat and Paula Ogilvie) of £33,000 and £33,000 respectively (2023 - £27,000 and £26,500), as part compensation for their contributions of skill and experience in the field of literary festivals. These approved amounts were in respect of fees to self-employed individuals, not wages or salaries. |
| Neither Mr Moffat nor Mrs Ogilvie receive any remuneration for their directorships of the company. In some years, for cost-saving reasons, the consultancy fees actually paid to them need to be reduced to below the board-approved levels. |
| Trustees' expenses |
| During the year, one Trustee was paid travel expenses totalling £1,061 (2023 two trustees totalling £710). |
| Borders Book Festival |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 8. | STAFF COSTS |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Wages and salaries |
| 30,567 | 21,522 |
| The average monthly number of employees during the year was as follows: |
| 31.12.24 | 31.12.23 |
| Temporary festival staff |
| 9. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
| Unrestricted | Restricted | Total |
| fund | funds | funds |
| £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| Charitable activities |
| Investment income |
| Total |
| EXPENDITURE ON |
| Charitable activities |
| Other |
| Total |
| NET INCOME |
| RECONCILIATION OF FUNDS |
| Total funds brought forward | 11,045 | - |
| TOTAL FUNDS CARRIED FORWARD | 11,396 | 9,200 | 20,596 |
| Borders Book Festival |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 10. | TANGIBLE FIXED ASSETS |
| Computer |
| equipment |
| £ |
| COST |
| At 1 January 2024 and 31 December 2024 |
| DEPRECIATION |
| At 1 January 2024 and 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| 11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Trade debtors |
| Other debtors |
| VAT |
| Prepayments |
| 12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Trade creditors |
| Accruals |
| 13. | ACCRUALS AND DEFERRED INCOME |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Deferred income | 39,346 | 1,700 |
| 14. | MOVEMENT IN FUNDS |
| Net | Transfers |
| movement | between | At |
| At 1.1.24 | in funds | funds | 31.12.24 |
| £ | £ | £ | £ |
| Unrestricted funds |
| General fund | 11,396 | (23,208 | ) | 35,000 | 23,188 |
| Restricted funds |
| Youth Media Project | 9,200 | (9,127 | ) | - | 73 |
| Benefactor | - | 45,000 | (35,000 | ) | 10,000 |
| 35,873 | ( |
) |
| TOTAL FUNDS | 12,665 | 33,261 |
| Borders Book Festival |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 14. | 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 | 451,387 | (474,595 | ) | (23,208 | ) |
| Restricted funds |
| Youth Media Project | 3,000 | (12,127 | ) | (9,127 | ) |
| Benefactor | 45,000 | - | 45,000 |
| ( |
) | 35,873 |
| TOTAL FUNDS | ( |
) | 12,665 |
| Comparatives for movement in funds |
| Net |
| movement | At |
| At 1.1.23 | in funds | 31.12.23 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 11,045 | 351 | 11,396 |
| Restricted funds |
| Youth Media Project | - | 9,200 | 9,200 |
| TOTAL FUNDS | 11,045 | 9,551 | 20,596 |
| Comparative net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 427,111 | (426,760 | ) | 351 |
| Restricted funds |
| Youth Media Project | 9,200 | - | 9,200 |
| TOTAL FUNDS | 436,311 | (426,760 | ) | 9,551 |
| Borders Book Festival |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 14. | MOVEMENT IN FUNDS - continued |
| A current year 12 months and prior year 12 months combined position is as follows: |
| Net | Transfers |
| movement | between | At |
| At 1.1.23 | in funds | funds | 31.12.24 |
| £ | £ | £ | £ |
| Unrestricted funds |
| General fund | 11,045 | (22,857 | ) | 35,000 | 23,188 |
| Restricted funds |
| Youth Media Project | - | 73 | - | 73 |
| Benefactor | - | 45,000 | (35,000 | ) | 10,000 |
| - | 45,073 | (35,000 | ) | 10,073 |
| TOTAL FUNDS | 11,045 | 22,216 | - | 33,261 |
| 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 | 878,498 | (901,355 | ) | (22,857 | ) |
| Restricted funds |
| Youth Media Project | 12,200 | (12,127 | ) | 73 |
| Benefactor | 45,000 | - | 45,000 |
| 57,200 | (12,127 | ) | 45,073 |
| TOTAL FUNDS | 935,698 | (913,482 | ) | 22,216 |
| 15. | RELATED PARTY DISCLOSURES |
| During the year, David Ogilvie, husband of Mrs Ogilvie, was paid £12,000 for consultancy services provided to the festival. Payments to Trustees are shown in Note 5 to the accounts. |
| 16. | FEES PAID TO INDEPENDENT EXAMINER |
| During the year the Charity paid £1,260 to Gall Robertson CA for independent examination of the accounts and £330 for corporate governance training. The Charity also paid Gall Robertson CA £1,294 for book keeping, company secretarial and other services. |
| Borders Book Festival |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 17. | LEGAL FORM OF ENTITY |
| The Charity is a company limited by guarantee registered in Scotland. Its registered office is Harmony House, St Mary's Road, Melrose, TD6 9LJ. |
| 18. | GOING CONCERN |
| The Trustees confirm that there are no material uncertainties regarding the charity's ability to continue. |
| 19. | PUBLIC BENEFIT ENTITY |
| The Charity is a Public Benefit Entity. |
| 20. | VOLUNTEERS |
| The contribution of volunteers to our success is highly valued by the trustees, the creative team who produce the festival and everyone who comes along: from those who drive the artists to and from the festival to others providing hospitality or guiding visitors around the festival, there is a wide variety of roles that are invaluable to the quality of the festival experience. We value the support our volunteers provide and ensure that we fulfil our responsibilities to them in return. |