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Registered Number: 10710423
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 March 2024

for

THE BEAUFORT THEATRE LIMITED

Directors Richard Bevan
Sharon Harford
Steven Harford
Paul Maddy
Louis William Norman
Louisa Giles
Registered Number 10710423
Registered Office Beaufort Hill,
Beaufort,
Ebbw Vale,
NP23 5QQ
Accountants TKD Accountants Ltd
Regus House
Malthouse Avenue
Cardiff Gate Business Park
Cardiff
CF23 8RU
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 31 March 2024.
Objectives

The Company was incorporated in 2017 and its objectives are to carry out trading activities in line with the ethos of our sole member, Ffin Dance Ltd. Our objectives also include working with our sole member to deliver its charitable objectives and to help in raising funds.

Achievements and Performance

As we move into our 8th year at The Beaufort Theatre we have faced less challenges than the previous 3 years, we note a marked increase in the booking for events due to the publics growing social confidence and have seen a big increase in professional event bookings.

However, unfortunately we have still reported a small loss at the end of the year.

We have been fortunate to receive funding from the Shared Prosperity Fund from the UK Government; this has covered the wages for a full time Events and Volunteers Coordinator, together with a part-time Venue Supervisor and part-time Catering Assistant. It has also enabled us to make on-going maintenance to the interior and exterior of the venue and improve the stage lighting and sound.

During the year we have continued and developed ongoing connections with our community through social media platforms and regular media updates on progress at the venue and information about new shows and activities.

The Café Bar has been vibrant accounting for 30% of our overall total income.

Day time usage is increasing steadily with more events being booked in, together with the addition of 3 Acro classes and a seniors gentle movement class in addition to our regular 5 weekly dance classes.

We acknowledge that we will continue to face challenging times, where local and regional engagement with the arts is traditionally low and the region has higher than average levels of deprivation. All of these issues are accentuated by a backdrop of ever decreasing public funding and rising living costs. However, despite this, our efforts to continue with engaging audiences and developing new and innovative programming stands. We will achieve this by working collaboratively and in partnership, proving that we have a very valuable role to play in the creative community.

The Board of Directors would like to thank our audiences and participants for their continued support and engagement, to our staff and volunteers for their continued hard work, enthusiasm and dedication, and to our partners and funders for their confidence and recognition of a quality arts programme.

Pay and Remuneration

The Company is run and managed mainly by volunteers. The Companys Artistic Director and Senior Manager, Sue Lewis is a volunteer, and the Directors would like to take this opportunity of expressing their thanks to Sue for her hard work, commitment and enthusiasm.

Related Parties

Sharon Harford, Chair of the Board of Directors of The Beaufort Theatre Limited, and Louis Norman are also Director/Trustees of Ffin Dance, the sole member.

Risk Management

The Board has developed a Risk Register and reviews the document to ensure that it understands the key risks. These risks are:

1. A lack of large profit from the Café and Bar

2. A lack of community use of the venue, in particular during the daytime by community groups

3. A lack of key staff and insufficient volunteers to cover the theatre activities

The Risk Register is a dynamic, working document that identifies the controls in place for each risk.

The Risk Register is monitored regularly by the Board.

Finance Review

The Directors monitor the financial status of the Company through regular Board meetings, where information is presented on the financial situation of the Company.

The Board receives timely financial reports, which enable extensive monitoring. The Board acknowledges the work of all staff and volunteers to ensure the continued implementation of financial procedures and the ongoing work towards having a sustainable and secure financial position within the Company.

The Directors unfortunately report that during the year, the Company has shown a small loss.

Grants/Funding

The following grants were received during the year:

£31,372.80 - UK Shared Prosperity Fund

£15,957.20 - Communities and Place Grant Shared Prosperity Fund

Reserves

At the year end the Company had £34,610 at bank, an increase on the previous year. At this stage of its development the Company does not keep reserves.



















































Directors
The directors who served the company throughout the year were as follows:
Richard Bevan
Sharon Harford
Steven Harford
Paul Maddy
Louis William Norman
Louisa Giles

This report was approved by the board and signed on its behalf by:


----------------------------------
Richard Bevan
Director
----------------------------------
Steven Harford
Director

Date approved: 15 October 2024
2
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 38,499    41,737 
38,499    41,737 
Current assets      
Stocks 4 2,500    2,500 
Cash at bank and in hand 34,610    14,119 
37,110    16,619 
Creditors: amount falling due within one year 5 (41,416)   (12,309)
Net current assets (4,306)   4,310 
 
Total assets less current liabilities 34,193    46,047 
Net assets 34,193    46,047 
 

Capital and reserves
     
Profit and loss account 34,193    46,047 
Shareholders' funds 34,193    46,047 
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 15 October 2024 and were signed on its behalf by:


-------------------------------
Richard Bevan
Director
-------------------------------
Steven Harford
Director
3
General Information
The Beaufort Theatre Limited is a private company, limited by shares, registered in England and Wales, registration number 10710423, registration address Beaufort Hill, , Beaufort,, Ebbw Vale, , NP23 5QQ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Plant and Machinery 20% and 10% Straight Line
Fixtures and Fittings 10% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees


Average number of employees during the year was 2 (2023 : 0).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Total
  £   £   £
At 01 April 2023 25,627    34,318    59,945 
Additions   5,600    5,600 
Disposals    
At 31 March 2024 25,627    39,918    65,545 
Depreciation
At 01 April 2023 9,346    8,862    18,208 
Charge for year 4,846    3,992    8,838 
On disposals    
At 31 March 2024 14,192    12,854    27,046 
Net book values
Closing balance as at 31 March 2024 11,435    27,064    38,499 
Opening balance as at 01 April 2023 16,281    25,456    41,737 


4.

Stocks

2024
£
  2023
£
Stocks 2,500    2,500 
2,500    2,500 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
PAYE & Social Security 431   
Accruals 7,093    835 
Deferred Grants 13,639    11,474 
Deferred Income 17,834   
Wages & Salaries Control Account 2,419   
41,416    12,309 

6.

Company Limited by Guarantee

The Company is Limited by Guarantee and therefore has no shares. The liability of it's members is limited to £1.
4