REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 January 2024 |
for |
TWODS Limited |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 January 2024 |
for |
TWODS Limited |
TWODS Limited |
Contents of the Financial Statements |
for the Year Ended 31 January 2024 |
Page |
Report of the Trustees | 1 | to | 2 |
Independent Examiner's Report | 3 |
Statement of Financial Activities | 4 |
Balance Sheet | 5 |
Notes to the Financial Statements | 6 | to | 9 |
TWODS Limited (Registered number: 05296427) |
Report of the Trustees |
for the Year Ended 31 January 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 January 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). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The company is a charity and exists to educate the public in the operatic and dramatic arts and to further the development of public appreciation and taste in the said arts and to support local charities. |
Review of activities by the Chairman |
The charity presented two musical productions during the financial year: Chitty Chitty Bang Bang in May/ June 2023 at the Assembly Hall Theatre and A Chorus Line at Trinity Theatre and Arts Centre in November 2023, both in Tunbridge Wells. Chitty Chitty Bang Bang was TWODS's most expensive show ever staged but still mad a modest production profit of £6,545. A Chorus Line incurred a small production loss of £1,858. However, it should be noted that we have estimated theatre tax credits to reclaim of £26,000, bringing the total production profits for the year to £30,687. The Society made charitable donations of £3,514 in the year (2023: £3,152). |
I am pleased to confirm therefore that the charity was able to meet its objectives during the year. This is due, as before, to the hard work and dedication of our membership and all the friends of the company who give so willingly of their time and energy, and due to generous grants and donations from members and other institutions to support our work. |
FINANCIAL REVIEW |
Reserves policy |
The reserves policy has been reviewed in accordance with the requirement of the Charities Commission. It is the directors' view that the current level of reserves should be maintained in order to safeguard the future viability of the charity. Funds will be made available to help local charities as appropriate. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
Recruitment and appointment of new trustees |
Trustees are appointed by an ordinary resolution of the members in general meeting. |
Members of the Board of TWODS |
The Trustees have delegated the day to day running of the company to the Board of TWODS. |
Members of the charitable company guarantee to contribute an amount not exceeding £1 to the assets of the charitable company in the event of winding up. The total number of such guarantees at 31 January 2024 was 181 (2023: 213) |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
TWODS Limited (Registered number: 05296427) |
Report of the Trustees |
for the Year Ended 31 January 2024 |
Trustees |
Company Secretary |
Independent Examiner |
Deeks Evans Audit Services Limited |
Chartered Accountants |
First Floor, West Barn |
North Frith Farm, Ashes Lane |
Hadlow |
Tonbridge |
Kent |
TN11 9QU |
Bankers |
Tunbridge Wells |
Kent |
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 |
TWODS Limited |
Independent examiner's report to the trustees of TWODS Limited ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 January 2024. |
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. |
S J Moger |
Deeks Evans Audit Services Limited |
Chartered Accountants |
First Floor, West Barn |
North Frith Farm, Ashes Lane |
Hadlow |
Tonbridge |
Kent |
TN11 9QU |
8 July 2024 |
TWODS Limited |
Statement of Financial Activities |
for the Year Ended 31 January 2024 |
2024 | 2023 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Investment income | 2 |
Other income |
Total |
EXPENDITURE ON |
Charitable activities |
Charitable donations |
3,514 | 3,152 |
Other |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 93,262 |
TWODS Limited (Registered number: 05296427) |
Balance Sheet |
31 January 2024 |
2024 | 2023 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 7 |
CURRENT ASSETS |
Debtors | 8 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 9 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 10 |
Unrestricted funds | 93,262 |
TOTAL FUNDS | 93,262 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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. |
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 |
TWODS Limited |
Notes to the Financial Statements |
for the Year Ended 31 January 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. |
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. |
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. |
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Fixtures & equipment | - |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds. |
There are no restricted funds. |
2. | INVESTMENT INCOME |
2024 | 2023 |
£ | £ |
Investment income & interest |
3. | GRANTS PAYABLE |
2024 | 2023 |
£ | £ |
Charitable donations |
3,514 | 3,152 |
TWODS Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
4. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2024 | 2023 |
£ | £ |
Depreciation - owned assets |
5. | TRUSTEES' REMUNERATION AND BENEFITS |
The Trustees are not remunerated. |
Trustees' expenses |
The Trustees received £9,360 (2023 : £3,313) in the year in the form of reimbursed expenses. |
6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted |
fund |
£ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Investment income |
Total |
EXPENDITURE ON |
Charitable activities |
Charitable donations |
3,152 |
Other |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 93,262 |
TWODS Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
7. | TANGIBLE FIXED ASSETS |
Fixtures |
& equipment |
£ |
COST |
At 1 February 2023 and 31 January 2024 |
DEPRECIATION |
At 1 February 2023 |
Charge for year |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Prepayments |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Accrued expenses |
10. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.2.23 | in funds | 31.1.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 93,262 | 34,601 | 127,863 |
TOTAL FUNDS | 34,601 | 127,863 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 194,146 | (159,545 | ) | 34,601 |
TOTAL FUNDS | ( |
) | 34,601 |
TWODS Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
10. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net |
movement | At |
At 1.2.22 | in funds | 31.1.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 107,270 | (14,008 | ) | 93,262 |
TOTAL FUNDS | 107,270 | (14,008 | ) | 93,262 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 157,910 | (171,918 | ) | (14,008 | ) |
TOTAL FUNDS | 157,910 | (171,918 | ) | (14,008 | ) |
11. | RELATED PARTY DISCLOSURES |
12. | ULTIMATE CONTROLLING PARTY |
The company is controlled by the Trustees. |