REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
THE ROPETACKLE CENTRE TRUST |
(A COMPANY LIMITED BY GUARANTEE) |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
THE ROPETACKLE CENTRE TRUST |
(A COMPANY LIMITED BY GUARANTEE) |
THE ROPETACKLE CENTRE TRUST |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Report of the Trustees | 1 | to | 3 |
Independent Examiner's Report | 4 |
Statement of Financial Activities | 5 |
Balance Sheet | 6 | to | 7 |
Cash Flow Statement | 8 |
Notes to the Financial Statements | 9 | to | 17 |
THE ROPETACKLE CENTRE TRUST (REGISTERED NUMBER: 05124613) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). |
ACHIEVEMENT AND PERFORMANCE |
Ropetackle Arts Centre is a multi-award winning arts venue that attracts some of the biggest named performers in the UK. Situated in Shoreham, West Sussex, its aim is to stage events for all tastes and budgets for those living in Adur district and beyond. |
The superbly equipped auditorium accommodates 200 seated or 350 standing. There is a separate mezzanine for small events and activities, a bar, and a large foyer which houses our in-house café. |
The objects for which the trust was established are: |
i) the promotion of the arts for the public benefit, the promotion and advancement of the education and the cultivation and improvement of public education in drama, mime, opera, singing, music, dance, painting and sculpture, cinema, literature and the other arts; |
ii) to provide or assist in the provision of facilities for recreation and leisure-time occupation for the benefit of the inhabitants of Adur and the surrounding area, in the interests of social welfare with the object of improving the life of the said inhabitants. |
The trustees confirm that the main activities undertaken are to further the charity's purposes for the public benefit; and that they have referred to the Charities Commission's guidance on public benefit when reviewing the company's aims, objectives and activities. |
The Ropetackle Centre is run by the community, for the benefit of the community. Its principal activity is the putting on, and giving the people of the Adur district access to, high quality performances by wide ranging professional artists, as well as providing a fully equipped venue for community activities. |
It is the trust's aim to extend its community outreach work insofar as this is achievable having regard to the trust's limited resources. It is the trust's policy to ensure that community projects which it undertakes are properly funded and resourced, and (in terms of resource) are not detrimental to the trust's core business of operating the Centre. |
With a view to building on our successful, 2023 Arts Council funded project "Folk for All", involving a group of established musicians turning local stories and reminiscences, particularly from elderly people, into folk songs which will be performed in local schools as well as at Ropetackle, we are applying for a further Arts Council grant. |
Following discussions with our fundraising consultants, our trustees have decided on a route map towards a prospective application in early 2026 for National Portfolio status. |
In view of the importance of the revenue generated by our Friends & Patrons, and our Business Sponsorship schemes, we have appointed a part time Development Manager to increase such revenue. |
Ropetackle continues its successful partnership with Shoreham Wordfest. |
There are currently 10 trustees, including the recent appointment of Mark Phillips, former Ropetackle Centre Manager. |
THE ROPETACKLE CENTRE TRUST (REGISTERED NUMBER: 05124613) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FINANCIAL REVIEW |
The net income for the year was £60,658 (2022: £43,693) |
Despite the underlying cost of living concerns, we managed to maintain an encouraging level of ticket sales. |
This main source of revenue was enhanced by additional income from both bar sales and room hire activities. |
However, as is the typical case with art venues similar to our own, the revenue generated by performance, bar sales and other activities are insufficient to achieve profitability. External sources of revenue are therefore essential. |
Although Ropetackle receives grant funding from time to time for various specific projects, it does not receive any grants towards its core operation. It does, however, receive vital extra income from the community by way of its Friends and Patrons Scheme and from business by way of sponsorship. |
The trustees are focused on maximising these sources of income. |
The overall financial performance, with the benefit of such additional revenue streams, resulted in a modest, but acceptable level of surplus for the year. |
Reserves policy |
The board has determined that the charity requires reserves of at least £100,000. |
At the year end, the charity's funds were £299,285 (2022: £238,627). Further details of reserves can be found in note 23. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
The organisation is a charitable company limited by guarantee, incorporated on 11 May 2004. The company was established under a Memorandum of Association which established the objects and powers of the charitable company. It is governed by its Articles of Association. Under these Articles, the trustees are elected at the annual general meeting (AGM), which the charitable company must hold each year and to which all members are entitled to attend. |
A board of trustees controls the charity's activities. The role of the board in the governance of the charity is to be responsible for the overall strategic development of the charity and to drive the organisation forward. |
The trustees have identified the range of skills and expertise that will strengthen the board, and nominations for vacant positions are openly sought. New trustees can also be co-opted throughout the year and are then subject to election at the subsequent AGM on the basis of nominations. New trustees are inducted into the workings of the charity and provided with information regarding organisational and board policy and procedures. All new trustees sign a conflict of interest declaration and a statement confirming their eligibility to hold office as trustees. |
Policies and procedures adopted for the induction and training of trustees are ongoing and incorporated indirectly into the regular trustees meetings. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
THE ROPETACKLE CENTRE TRUST (REGISTERED NUMBER: 05124613) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Trustees |
Independent Examiner |
Galloways Accounting |
Atlas Chambers |
33 West Street |
Brighton |
East Sussex |
BN1 2RE |
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. |
Approved by order of the board of trustees on |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
THE ROPETACKLE CENTRE TRUST |
Independent examiner's report to the trustees of The Ropetackle Centre Trust ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
Independent examiner's statement |
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the 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: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. |
Colin Young BA FCA |
Galloways Accounting |
Atlas Chambers |
33 West Street |
Brighton |
East Sussex |
BN1 2RE |
21 August 2024 |
THE ROPETACKLE CENTRE TRUST |
STATEMENT OF FINANCIAL ACTIVITIES |
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
as restated |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 3 |
Charitable activities | 6 |
Other trading activities | 4 |
Investment income | 5 |
Other income | 7 |
Total |
EXPENDITURE ON |
Raising funds | 8 |
Charitable activities | 9 |
Total |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 238,627 |
THE ROPETACKLE CENTRE TRUST (REGISTERED NUMBER: 05124613) |
BALANCE SHEET |
31 DECEMBER 2023 |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 16 |
CURRENT ASSETS |
Stocks | 17 |
Debtors | 18 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 19 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 20 | ( |
) |
NET ASSETS |
FUNDS | 23 |
Unrestricted funds | 234,634 |
Restricted funds | 3,993 |
TOTAL FUNDS | 238,627 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
THE ROPETACKLE CENTRE TRUST (REGISTERED NUMBER: 05124613) |
BALANCE SHEET - continued |
31 DECEMBER 2023 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
THE ROPETACKLE CENTRE TRUST |
CASH FLOW STATEMENT |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2023 | 2022 |
as restated |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 26 | 107,427 | 75,076 |
Interest paid | (293 | ) | (1,011 | ) |
Net cash provided by operating activities | 107,134 | 74,065 |
Cash flows from investing activities |
Purchase of tangible fixed assets | (4,993 | ) | (7,045 | ) |
Interest received | 3,504 | - |
Net cash used in investing activities | (1,489 | ) | (7,045 | ) |
Cash flows from financing activities |
Loan repayments in year | (35,000 | ) | (9,999 | ) |
Net cash used in financing activities | (35,000 | ) | (9,999 | ) |
Change in cash and cash equivalents in the reporting period |
70,645 |
57,021 |
Cash and cash equivalents at the beginning of the reporting period |
433,852 |
376,831 |
Cash and cash equivalents at the end of the reporting period |
504,497 |
433,852 |
THE ROPETACKLE CENTRE TRUST |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
The Ropetackle Centre Trust is a limited-by-guarantee company incorporated in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the Trustees' Report on page 2 of these financial statements. The nature of the charity's operations and principal activities are the promotion of the arts for public benefit, the promotion and advancement of the education, the cultivation and improvement of public education in the arts, and the provision of facilities for recreation and leisure-time occupation. |
2. | 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 financial statements have been prepared on a going concern basis since the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for the foreseeable future and consider sufficient funds exist for the charity to be able to continue as a going concern. |
Income |
All incoming resources are included in the Statement of Financial Activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: |
Voluntary income |
Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. |
Event income |
Ticketing income is recognised when the event to which it relates occurs with income relating to future events being deferred. |
Bar income |
Bar income is recognised when goods are provided to the customer. |
Government grants |
Government grants which are compensation for expenses or losses already incurred or for the purpose of giving immediate financial support with no future related costs are recognised in the period in which they become receivable. |
Expenditure |
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. |
Costs of generating funds comprise the costs associated with attracting voluntary income. |
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. |
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs. They are incurred directly in support of expenditure on the objects of the charity. |
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include accountancy fees and costs linked to the strategic management of the charity. |
THE ROPETACKLE CENTRE TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
Tangible fixed assets |
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life. |
The charity changed their method of depreciating its fixed assets from a 25% on a reducing balance basis to four years on a straight-line basis as this revised method better reflects the charity's use of their fixed assets over their useful lives and is consistent with the charity's replacement cycle. |
The change in depreciation method is accounted for in the current year and in any subsequent periods, |
Leasehold property improvements | - 10% flat rate per annum |
Plant and machinery | - 25% per annum on a straight line basis |
Fixtures and fittings | - 25% per annum on a straight line basis |
Computer equipment | - 25% per annum on a straight line basis |
Stocks |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate. |
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. |
Pension costs and other post-retirement benefits |
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. |
Debtors and creditors due within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at the transaction price. Any losses arising from impairment are recognised in expenditure. |
Loans and borrowings |
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value. |
3. | DONATIONS AND LEGACIES |
2023 | 2022 |
as restated |
£ | £ |
Donations |
Grants |
THE ROPETACKLE CENTRE TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
4. | OTHER TRADING ACTIVITIES |
2023 | 2022 |
as restated |
£ | £ |
Business friends sponsorship | 2,388 | - |
Ropetackle in the community sponsorship | 5,000 | - |
Bar sales | 162,957 | 123,083 |
5. | INVESTMENT INCOME |
2023 | 2022 |
as restated |
£ | £ |
Deposit account interest |
6. | INCOME FROM CHARITABLE ACTIVITIES |
2023 | 2022 |
as restated |
Activity | £ | £ |
Ticket sales | Venue operations | 560,981 | 429,476 |
Performance venue hire | Venue operations | 12,230 | 10,033 |
Other lettings and conferences |
Venue operations |
16,962 |
10,420 |
Booking fees | Venue operations | 31,338 | 25,655 |
Film Club | Venue operations | 4,080 | 4,251 |
Levy charges | Venue operations | 16,406 | 16,760 |
Other | Venue operations | 3,193 | 2,400 |
Commission income | Venue operations | 4,062 | 2,756 |
7. | OTHER INCOME |
2023 | 2022 |
as restated |
£ | £ |
Government grants | - | 22,667 |
Other income in 2022 comprised Government grant income relating to the Coronavirus Job Retention Scheme. |
THE ROPETACKLE CENTRE TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
8. | RAISING FUNDS |
Other trading activities |
2023 | 2022 |
as restated |
£ | £ |
Purchases |
9. | CHARITABLE ACTIVITIES COSTS |
Support |
Direct | costs (see |
Costs | note 10) | Totals |
£ | £ | £ |
Venue operations | 677,129 | 122,046 | 799,175 |
10. | SUPPORT COSTS |
Governance |
Management | costs | Totals |
£ | £ | £ |
Venue operations | 118,789 | 3,257 | 122,046 |
11. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2023 | 2022 |
as restated |
£ | £ |
Independent examiner's remuneration | 1,052 | 1,139 |
Other non-independent examination services | 2,205 | 2,278 |
Depreciation - owned assets |
12. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. |
Trustees' expenses |
During the year, £1,343 (2022: £341) of expenses were incurred that were reimbursed to four trustees. |
13. | STAFF COSTS |
2023 | 2022 |
as restated |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
155,814 | 118,863 |
The average monthly number of employees during the year was as follows: |
2023 | 2022 |
as restated |
Employees |
THE ROPETACKLE CENTRE TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
13. | STAFF COSTS - continued |
14. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | funds | funds |
as restated |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Other trading activities |
Other income |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
Transfers between funds | 3,854 | (3,854 | ) | - |
Net movement in funds | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 178,102 | 16,832 |
TOTAL FUNDS CARRIED FORWARD | 234,634 | 3,993 | 238,627 |
15. | PRIOR YEAR ADJUSTMENT |
The prior year restatement reflects the utilisation of the restricted fund 'Organisational Development' that had been incorrectly allocated to the unrestricted reserve. |
This restatement has no financial impact on the statement of financial activity or balance sheet. |
THE ROPETACKLE CENTRE TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
16. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and | Computer |
property | machinery | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 January 2023 |
Additions |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
17. | STOCKS |
2023 | 2022 |
as restated |
£ | £ |
Stocks |
18. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
as restated |
£ | £ |
Trade debtors |
Other debtors |
Prepayments and accrued income |
19. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
as restated |
£ | £ |
Bank loans and overdrafts (see note 21) |
Trade creditors |
Social security and other taxes |
VAT | 8,339 | 8,302 |
Other creditors |
Accruals and deferred income |
THE ROPETACKLE CENTRE TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
20. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
as restated |
£ | £ |
Bank loans (see note 21) |
21. | LOANS |
An analysis of the maturity of loans is given below: |
2023 | 2022 |
as restated |
£ | £ |
Amounts falling due within one year on demand: |
Bank loans |
Amounts falling between one and two years: |
Bank loans - 1-2 years |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
22. | LEASING AGREEMENTS |
The company has a 30 year lease until 2037 with Adur District Council. By the terms of this lease, the annual rent is the lower of £40,000 or 40% of the net income in excess of £10,000. |
23. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.1.23 | in funds | 31.12.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 234,634 | 51,622 | 286,256 |
Restricted funds |
Film Hub | 2,924 | 2,057 | 4,981 |
Folk For All | 1,069 | 1,423 | 2,492 |
Maggie Roberts | - | 556 | 556 |
Ropetackle In The Community | - | 5,000 | 5,000 |
9,036 |
TOTAL FUNDS | 60,658 | 299,285 |
THE ROPETACKLE CENTRE TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
23. | 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 | 883,029 | (831,407 | ) | 51,622 |
Restricted funds |
Film Hub | 5,553 | (3,496 | ) | 2,057 |
Folk For All | 29,733 | (28,310 | ) | 1,423 |
Maggie Roberts | 1,000 | (444 | ) | 556 |
Love To Move Together | 2,000 | (2,000 | ) | - |
Ropetackle In The Community | 5,000 | - | 5,000 |
( |
) | 9,036 |
TOTAL FUNDS | ( |
) | 60,658 |
Comparatives for movement in funds |
Net | Transfers |
movement | between | At |
At 1.1.22 | in funds | funds | 31.12.22 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 178,102 | 52,678 | 3,854 | 234,634 |
Restricted funds |
Santander Foundation | 3,000 | - | (3,000 | ) | - |
Steam Programme | 1,000 | - | (1,000 | ) | - |
Film Hub | 2,496 | 428 | - | 2,924 |
Organisational Development | 10,000 | (10,000 | ) | - | - |
Meal Appeal | 336 | (482 | ) | 146 | - |
Folk For All | - | 1,069 | - | 1,069 |
16,832 | (8,985 | ) | (3,854 | ) | 3,993 |
TOTAL FUNDS | 194,934 | 43,693 | - | 238,627 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 687,101 | (634,423 | ) | 52,678 |
Restricted funds |
Film Hub | 3,512 | (3,084 | ) | 428 |
Organisational Development | 20,000 | (30,000 | ) | (10,000 | ) |
Meal Appeal | (1 | ) | (481 | ) | (482 | ) |
Folk For All | 1,500 | (431 | ) | 1,069 |
25,011 | (33,996 | ) | (8,985 | ) |
TOTAL FUNDS | 712,112 | (668,419 | ) | 43,693 |
The unrestricted fund is used to further the aims of the charity at the discretion of the trustees. |
THE ROPETACKLE CENTRE TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
23. | MOVEMENT IN FUNDS - continued |
The Film Hub restricted reserve is used to provide film performances to people living with Alzheimer's disease. |
The Folk For All is a creative exchange between 10 folk local musicians & practitioners, culminating in a series of creative exchange sessions, community performances & school assembly performances. |
The Maggie Roberts is ringfenced for 'Can Bears Ski' as an event for deaf schools & one Panto performance, the money will go towards free tickets and interpreter fees. |
The Love To Move Together funding is to provide more Love to Move sessions & to increase the number of people with long-term health conditions and people with disabilities that benefit from the Love to Move programme. |
The Ropetackle In The Community funding is sponsorship income received by Business Friends Sponsorship. |
24. | EMPLOYEE BENEFIT OBLIGATIONS |
The charity made contributions to a defined contribution pension plan, administered by a third party, amounting to £5,550 (2022: £2,684). The full expense is allocated to the unrestricted reserves. |
25. | RELATED PARTY DISCLOSURES |
During the year, the charity purchased performances amounting to £13,497 (2022: £11,174) from R Durrant, spouse of the trustee, L Durrant. |
26. | RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES |
2023 | 2022 |
as restated |
£ | £ |
Net income for the reporting period (as per the Statement of Financial Activities) |
60,658 |
43,693 |
Adjustments for: |
Depreciation charges | 9,900 | 3,778 |
Interest received | (3,504 | ) | - |
Interest paid | 293 | 1,011 |
Increase in stocks | (721 | ) | (1,020 | ) |
Increase in debtors | (16,687 | ) | (4,116 | ) |
Increase in creditors | 57,488 | 31,730 |
Net cash provided by operations | 107,427 | 75,076 |
27. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1.1.23 | Cash flow | At 31.12.23 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 433,852 | 70,645 | 504,497 |
433,852 | 70,645 | 504,497 |
Debt |
Debts falling due within 1 year | (10,000 | ) | 10,000 | - |
Debts falling due after 1 year | (25,000 | ) | 25,000 | - |
(35,000 | ) | 35,000 | - |
Total | 398,852 | 105,645 | 504,497 |