REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Financial Statements for the Year Ended 31 December 2023 |
for |
SHARNBROOK AMATEUR THEATRE TRUST LIMITED |
(THE) |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Financial Statements for the Year Ended 31 December 2023 |
for |
SHARNBROOK AMATEUR THEATRE TRUST LIMITED |
(THE) |
SHARNBROOK AMATEUR THEATRE TRUST LIMITED |
(THE) |
Contents of the Financial Statements |
for the year ended 31 DECEMBER 2023 |
Page |
Report of the Trustees | 1 | to | 2 |
Independent Examiner's Report | 3 |
Statement of Financial Activities | 4 |
Balance Sheet | 5 | to | 6 |
Notes to the Financial Statements | 7 | to | 13 |
SHARNBROOK AMATEUR THEATRE TRUST LIMITED |
(THE) (REGISTERED NUMBER: 00844043) |
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). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
To promote and further education in and knowledge, understanding and appreciation of the arts of Opera, Ballet, Mime, Drama, Music and similar arts. A strong focus on youth involvement is supported with local schools offered reduced rates for the hiring of our facilities/equipment, our annual Summer School and continuous encouragement for students to play an active part in all aspects of the Trust. In shaping the general aim the Trustees have considered the Charity Commissions guidance on public benefit. |
The charity is dependent on voluntary help. Besides those amateur performers who display their talents in the theatre, volunteers assist with stewarding performances, running and managing the bar, together with all the management of the charity. |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
As Government restrictions due to the Covid pandemic were lifted, the charity was able to return to nearly full activity, with four shows, several fundraising events but unfortunately unable to run Summer School. |
FINANCIAL REVIEW |
Financial position |
The profit from the four shows was £24,823 compared to £16,516 in 2022 reflecting a return to near normal activity. Overall, the charity made a loss of £2,288 compared to a loss of £3,963 in 2022. The main differences between the two years were the increase in show profit of £8,307 offset by an increased spend on upgrade projects of £8,104. The bar and catering activities generated £3,831 more profit than last year, reflecting the increase in audience attendance. |
Reserves policy |
The charity reviewed and updated their reserves policy on the 24th April 2024 to maintain £50,000 in an interest-bearing deposit account. Previously funds of £30,000 were held in reserve. |
FUTURE PLANS |
The Trust plans to continue a full range of activity in 2024 with five shows, summer school and fundraising events with further upgrade to the facility planned. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
The Sharnbrook Amateur Theatre Trust Limited is a company limited by guarantee and governed by its Memorandum and Articles of Association dated 1 April 1965 amended on March 22, 2023. It is registered as a charity with the Charity Commission. There were 133 members at the year end. |
The Board of Trustees administer the charity. The Board meets four times a year or as required. |
The Trustees have a risk management strategy which comprises: |
- an annual review of the risks the charity may face |
- the establishment of systems and procedures to mitigate those risks identified in the plan |
- the implementation of procedures designed to minimise the potential impact on the charity should those risks materialise. |
This work has not identified any major risks. A key element in the management of financial risk is the reserve policy, and the preparation and approval of a detailed budget for the forthcoming year. |
SHARNBROOK AMATEUR THEATRE TRUST LIMITED |
(THE) (REGISTERED NUMBER: 00844043) |
Report of the Trustees |
for the year ended 31 DECEMBER 2023 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Independent Examiner |
Elsby & Co |
155 Wellingborough Road |
Rushden |
Northamptonshire |
NN10 9TB |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Sharnbrook Amateur Theatre Trust Limited |
(The) |
Independent examiner's report to the trustees of Sharnbrook Amateur Theatre Trust Limited (The) ('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 |
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. |
Claire Emery |
Elsby & Co |
155 Wellingborough Road |
Rushden |
Northamptonshire |
NN10 9TB |
14 August 2024 |
SHARNBROOK AMATEUR THEATRE TRUST LIMITED |
(THE) |
Statement of Financial Activities |
for the year ended 31 DECEMBER 2023 |
2023 | 2022 |
Unrestricted | Total |
funds | funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
Charitable activities | 5 |
Other trading activities | 3 |
Investment income | 4 |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Other |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 880,449 |
SHARNBROOK AMATEUR THEATRE TRUST LIMITED |
(THE) (REGISTERED NUMBER: 00844043) |
Balance Sheet |
31 DECEMBER 2023 |
2023 | 2022 |
Unrestricted | Total |
funds | funds |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 8 |
CURRENT ASSETS |
Stocks | 9 |
Debtors | 10 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 11 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 12 | ( |
) | ( |
) |
NET ASSETS |
FUNDS | 13 |
Unrestricted funds | 880,449 |
TOTAL FUNDS | 880,449 |
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. |
SHARNBROOK AMATEUR THEATRE TRUST LIMITED |
(THE) (REGISTERED NUMBER: 00844043) |
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 |
SHARNBROOK AMATEUR THEATRE TRUST LIMITED |
(THE) |
Notes to the Financial Statements |
for the year ended 31 DECEMBER 2023 |
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. |
Income resources |
Charitable Trading Activities |
Income from theatre admission fees is included in incoming resources in the period in which receipts are received. Income from sales of goods and other items is included in the period in which the charity is entitled to receipt, unless paid in arrears. |
Donations, Legacies and Grants |
Income from donations, legacies and grants is included in incoming resources when these are receivable. |
Legacies - income is included when the charity is advised by the personal representative of an estate that payment will be made and the amount involved can be quantified. |
Subscriptions |
Subscription income is included in incoming resources in the period that it is received. |
Gifts and Intangible Income |
Intangible income, which comprises donated services, is included in income at a valuation which is an estimate of the financial cost borne by the donor where such a cost is quantifiable and measurable.No income is recognised where there is no financial cost borne by a third party. |
Interest Receivable |
Interest receivable is included when receivable by the charity and is allocated to each fund on an `average balance held` basis. |
Resources expended |
Resources expended are included in the Statement of Financial Activities on an accruals basis inclusive of any VAT which cannot be recovered. Certain expenditure is directly attributable to specific activities and has been included in those cost categories. |
Tangible fixed assets |
Tangible fixed assets are capitalised at cost. Depreciation is provided for and aims to write off fixed assets over their expected useful lives on the following basis: |
Freehold property | Nil |
Improvement to property | Heating 5% of cost and Cooling 10% of cost |
Fixtures and fittings | 20% of NBV |
Costumes | Nil |
The Trustees are of the opinion that depreciation should not be charged on the Freehold Property, on the grounds that the depreciation charge would be immaterial, owing to the long useful economic life and high residual value of the building.The Trustees have considered this policy and consider it appropriate at the Balance Sheet date. Costumes are included at a conservative value and are not depreciated. |
Stocks |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. |
Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing |
SHARNBROOK AMATEUR THEATRE TRUST LIMITED |
(THE) |
Notes to the Financial Statements - continued |
for the year ended 31 DECEMBER 2023 |
1. | ACCOUNTING POLICIES - continued |
Stocks |
stock to its present location and condition. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Deferred Taxation |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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. |
2. | DONATIONS AND LEGACIES |
2023 | 2022 |
£ | £ |
Grants |
Donations |
Fund the Future |
Gift aid |
SHARNBROOK AMATEUR THEATRE TRUST LIMITED |
(THE) |
Notes to the Financial Statements - continued |
for the year ended 31 DECEMBER 2023 |
3. | OTHER TRADING ACTIVITIES |
2023 | 2022 |
£ | £ |
RHI |
Fundraising | 13,073 | 15,795 |
Sales of goods | 168 | 13 |
Hire of premises | 4,973 | 6,100 |
Costume and Equipment hire | 2,029 | 1,013 |
Bar and catering sales | 12,285 | 8,418 |
Other | 110 | 376 |
4. | INVESTMENT INCOME |
2023 | 2022 |
£ | £ |
Deposit account interest |
5. | INCOME FROM CHARITABLE ACTIVITIES |
2023 | 2022 |
Activity | £ | £ |
Productions | Productions | 54,915 | 33,454 |
Workshops | Workshops | 305 | 1,500 |
Subscriptions | Subscriptions | 3,540 | 2,815 |
6. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2023 | 2022 |
£ | £ |
Depreciation - owned assets |
7. | 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 |
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022. |
SHARNBROOK AMATEUR THEATRE TRUST LIMITED |
(THE) |
Notes to the Financial Statements - continued |
for the year ended 31 DECEMBER 2023 |
8. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
Freehold | to | and |
property | property | Costumes | fittings | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 January 2023 and 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 |
9. | STOCKS |
2023 | 2022 |
£ | £ |
Stocks |
10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Prepayments |
SHARNBROOK AMATEUR THEATRE TRUST LIMITED |
(THE) |
Notes to the Financial Statements - continued |
for the year ended 31 DECEMBER 2023 |
11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
VAT | 742 | 129 |
Deferred income |
Accrued expenses |
12. | PROVISIONS FOR LIABILITIES |
2023 | 2022 |
£ | £ |
Deferred tax |
13. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.1.23 | in funds | 31.12.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 373,907 | (2,288 | ) | 371,619 |
Revaluation | 506,542 | - | 506,542 |
(2,288 | ) |
TOTAL FUNDS | (2,288 | ) | 878,161 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 105,778 | (108,066 | ) | (2,288 | ) |
TOTAL FUNDS | ( |
) | (2,288 | ) |
SHARNBROOK AMATEUR THEATRE TRUST LIMITED |
(THE) |
Notes to the Financial Statements - continued |
for the year ended 31 DECEMBER 2023 |
13. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net |
movement | At |
At 1.1.22 | in funds | 31.12.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 377,870 | (3,963 | ) | 373,907 |
Revaluation | 506,542 | - | 506,542 |
884,412 | (3,963 | ) | 880,449 |
TOTAL FUNDS | 884,412 | (3,963 | ) | 880,449 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 83,561 | (87,524 | ) | (3,963 | ) |
TOTAL FUNDS | 83,561 | (87,524 | ) | (3,963 | ) |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.1.22 | in funds | 31.12.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 377,870 | (6,251 | ) | 371,619 |
Revaluation | 506,542 | - | 506,542 |
884,412 | (6,251 | ) | 878,161 |
TOTAL FUNDS | 884,412 | (6,251 | ) | 878,161 |
SHARNBROOK AMATEUR THEATRE TRUST LIMITED |
(THE) |
Notes to the Financial Statements - continued |
for the year ended 31 DECEMBER 2023 |
13. | MOVEMENT IN FUNDS - continued |
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 | 189,339 | (195,590 | ) | (6,251 | ) |
TOTAL FUNDS | 189,339 | (195,590 | ) | (6,251 | ) |
14. | RELATED PARTY DISCLOSURES |