SHREWSBURY MUSICAL THEATRE COMPANY CIC

Company limited by guarantee

Company Registration Number:
14091709 (England and Wales)

Unaudited statutory accounts for the year ended 31 May 2023

Period of accounts

Start date: 6 May 2022

End date: 31 May 2023

SHREWSBURY MUSICAL THEATRE COMPANY CIC

Contents of the Financial Statements

for the Period Ended 31 May 2023

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

SHREWSBURY MUSICAL THEATRE COMPANY CIC

Directors' report period ended 31 May 2023

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

Directors

The director shown below has held office during the period of
14 July 2022 to 31 May 2023

J Garner


The directors shown below have held office during the whole of the period from
6 May 2022 to 31 May 2023

S Sutherland
J Young


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

This report was approved by the board of directors on
6 February 2024

And signed on behalf of the board by:
Name: S Sutherland
Status: Director

SHREWSBURY MUSICAL THEATRE COMPANY CIC

Profit And Loss Account

for the Period Ended 31 May 2023

13 months to 31 May 2023


£
Turnover: 67,864
Cost of sales: ( 61,235 )
Gross profit(or loss): 6,629
Administrative expenses: ( 6,679 )
Other operating income: 18,937
Operating profit(or loss): 18,887
Interest receivable and similar income: 3
Profit(or loss) before tax: 18,890
Tax: ( 1 )
Profit(or loss) for the financial year: 18,889

SHREWSBURY MUSICAL THEATRE COMPANY CIC

Balance sheet

As at 31 May 2023

Notes 13 months to 31 May 2023


£
Fixed assets
Tangible assets: 3 402
Total fixed assets: 402
Current assets
Cash at bank and in hand: 14,870
Total current assets: 14,870
Prepayments and accrued income: 7,966
Creditors: amounts falling due within one year: 4 ( 1 )
Net current assets (liabilities): 22,835
Total assets less current liabilities: 23,237
Accruals and deferred income: ( 4,348 )
Total net assets (liabilities): 18,889
Members' funds
Profit and loss account: 18,889
Total members' funds: 18,889

The notes form part of these financial statements

SHREWSBURY MUSICAL THEATRE COMPANY CIC

Balance sheet statements

For the year ending 31 May 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

This report was approved by the board of directors on 6 February 2024
and signed on behalf of the board by:

Name: S Sutherland
Status: Director

The notes form part of these financial statements

SHREWSBURY MUSICAL THEATRE COMPANY CIC

Notes to the Financial Statements

for the Period Ended 31 May 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    TurnoverTurnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.Sale of goodsTurnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.Rendering of servicesTurnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

    Tangible fixed assets depreciation policy

    Plant & Machinery (aka Performance Equipment) - 3yrs Straight Line

    Other accounting policies

    TaxationIncome tax expense represents the sum of the tax currently payable and deferred tax.The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

SHREWSBURY MUSICAL THEATRE COMPANY CIC

Notes to the Financial Statements

for the Period Ended 31 May 2023

  • 2. Employees

    13 months to 31 May 2023
    Average number of employees during the period 0

SHREWSBURY MUSICAL THEATRE COMPANY CIC

Notes to the Financial Statements

for the Period Ended 31 May 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
Additions 603 603
Disposals
Revaluations
Transfers
At 31 May 2023 603 603
Depreciation
Charge for year 201 201
On disposals
Other adjustments
At 31 May 2023 201 201
Net book value
At 31 May 2023 402 402

SHREWSBURY MUSICAL THEATRE COMPANY CIC

Notes to the Financial Statements

for the Period Ended 31 May 2023

4. Creditors: amounts falling due within one year note

13 months to 31 May 2023
£
Other creditors 1
Total 1

COMMUNITY INTEREST ANNUAL REPORT

SHREWSBURY MUSICAL THEATRE COMPANY CIC

Company Number: 14091709 (England and Wales)

Year Ending: 31 May 2023

Company activities and impact

This has been a very successful year. We performed two full-scale musicals to the people of Shropshire. Our first show, Ghost the Musical, attracted sell out audiences and many new members who have continued to develop and contribute to the group. Our second show, Sunshine on Leith, was a premiere production for the people of Shrewsbury. Not only was it successful in terms of sales (almost selling out the larger capacity Main Auditorium at Theatre Severn) but this show also attracted a number of new members.We also successfully launched a beginner’s class called ‘Musical Mondays’. The intention of this was to raise the company profile and bring new memberships to the group. Musical Mondays ran bi-weekly for several months and was successful in finding the group some new interest, many of whom went on to perform in our full-scale musicals.Also, during this time, SMTC performed at the local Oktoberfest event held in the town. This gave the opportunity for a number of our members to perform in public without the fear of being in a larger full-scale musical, which can be intimidating for beginners.Organising an event such as a musical creates so many opportunities for people. We have provided an environment that is of huge benefit to our members, and not only performers. For example:- one of our members became a director for the first time for Ghost The Musical- we employ local musicians and technicians- we give opportunities for new people to try stage management and sound and lighting- some have developed talents in wider skills such as managing digital software, marketing, graphic design, set design, budgeting... the list goes on.A few testimonials from new members that joined in the period:"Everyone was so welcoming and encouraging, I instantly felt part of something special.""I have been looking for a well-established theatre company to join and to finally tread the boards again. SMTC was a perfect choice!""I joined SMTC to be part of a theatrical community in Shropshire after relocating from Man-chester. My favourite thing about SMTC is comradery.""I joined SMTC to be able to embrace a new challenge and I've loved being able to create something incredible with a talented group of local people.""Thank you for welcoming me to this incredible company! I have been a part of a number of amateur dramatics groups in my life but this company has made me feel right at home from day 1! Thank you, it means a lot to me!"Brief show reviews:"Despite a few inevitable opening night hiccups, SMTCs Ghost The Musical has everything... romance, danger, heartbreak, mystery, the supernatural, laughter, great music, and most of all, emotion. I defy anyone to come away without at least a lump in their throat!. The standing ovation I witnessed at the end said it all!""Emotions were running rife at Shrewsbury’s Theatre Severn last night as SMTC began its 100 year anniversary celebrations with Sunshine on Leith, this gritty, heartfelt, feel-good musi-cal, set in Edinburgh and featuring music from world-renowned The Proclaimers.This tale of friendship, family, love and heartache has been beautifully pulled together by Director, Rik Pover-Shaw and is superbly performed by a cast all perfect for their roles."

Consultation with stakeholders

SMTC regularly communicates to its members and the wider community about its activities via social media and our website. We are a fully inclusive group and make this clear in our communications, we want to accommodate anyone with an interest. During our productions our show programme always gives new people the opportunity to come and join.The group regularly meets with its members and all are given the opportunity to give feedback to the Directors about how they feel the provision can be improved or how it can benefit them.Regular meetings take place between the Directors and the companies support group ‘Team SMTC’ these meeting allow feedback to be shared and changes made with the intention to be open and inclusive whilst putting on memorable shows for our community.Our productions are marketed regularly via social media, our website, press releases and radio, we do our very best to ensure that our community is aware of our productions.There are plans in the next trading year to improve this feedback system by giving Stakeholders the opportunity to provide feedback via annual questionnaires.

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
6 February 2024

And signed on behalf of the board by:
Name: S Sutherland
Status: Director