0 false false false false false false true false false false false false true No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2021 - FRS102_2021_Charity 14,892 13,582 328 13,910 982 1,310 xbrli:pure xbrli:shares iso4217:GBP SC441724 2023-07-01 2024-06-30 SC441724 2024-06-30 SC441724 2023-06-30 SC441724 2022-07-01 2023-06-30 SC441724 2023-06-30 SC441724 2022-06-30 SC441724 bus:LeadAgentIfApplicable 2023-07-01 2024-06-30 SC441724 char:Trustee1 2023-07-01 2024-06-30 SC441724 char:Trustee12 2023-07-01 2024-06-30 SC441724 char:Trustee13 2023-07-01 2024-06-30 SC441724 char:Trustee14 2023-07-01 2024-06-30 SC441724 char:Trustee13 2024-06-30 SC441724 char:Trustee12 2024-06-30 SC441724 char:TotalUnrestrictedFunds 2023-06-30 SC441724 char:TotalUnrestrictedFunds 2024-06-30 SC441724 char:TotalUnrestrictedFunds 2023-06-30 SC441724 char:TotalUnrestrictedFunds 2023-07-01 2024-06-30 SC441724 char:TotalUnrestrictedFunds 2022-07-01 2023-06-30 SC441724 core:WithinOneYear 2024-06-30 SC441724 core:WithinOneYear 2023-06-30 SC441724 bus:FRS102 2023-07-01 2024-06-30 SC441724 bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 SC441724 bus:FullAccounts 2023-07-01 2024-06-30 SC441724 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 SC441724 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 SC441724 core:PlantMachinery 2023-07-01 2024-06-30 SC441724 core:PlantMachinery 2024-06-30 SC441724 core:PlantMachinery 2023-06-30
COMPANY REGISTRATION NUMBER: SC441724
CHARITY REGISTRATION NUMBER: SC034374
Largs Youth Theatre Ltd
Company Limited by Guarantee
Unaudited Financial Statements
30 June 2024
Largs Youth Theatre Ltd
Company Limited by Guarantee
Financial Statements
Year ended 30 June 2024
Page
Trustees' annual report (incorporating the director's report)
1
Independent examiner's report to the trustees
4
Statement of financial activities (including income and expenditure account)
6
Statement of financial position
7
Statement of cash flows
8
Notes to the financial statements
9
Largs Youth Theatre Ltd
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 30 June 2024
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 30 June 2024 .
Reference and administrative details
Registered charity name
Largs Youth Theatre Ltd
Charity registration number
SC034374
Company registration number
SC441724
Principal office and registered
81 Alexander Avenue
office
Largs
Ayrshire
KA30 9EX
The trustees
Ms J MacDougall
Ms L Edison
Mr A Milligan
(Resigned 2 October 2023)
Ms D Wilson
(Appointed 2 October 2023)
Independent examiner
Morag E Love CA
Craigminnan Ltd
183 Glen Avenue
Largs
Ayrshire
KA30 8QQ
Structure, governance and management
Largs Youth Theatre Ltd is governed by its constitution. Management is undertaken by a committee comprising the company directors and officers plus additional committee members.
Objectives and activities
The objectives of the company are to provide tuition in theatre skills, from prop making to performance, for young people. The company runs workshops in the following areas:
drama
improvisation
music making
making up plays
lighting, sound & scenery
and also organises theatre trips for children aged from 3 to 18 years.
Achievements and performance
For this year our classes participated in the following core activities: Dramatots ran weekly for ages 2-4 focusing on the DramaLlama phonics programme improving early speech and language skills whilst introducing theatre concepts. Wee Stars ran weekly for ages primary 1 and 2 developing introductory theatre arts skills. Little legends ran weekly for ages primary 3 and 4, and Stage Stars ran weekly for ages primary 5 to 7, both developing theatre arts skills through our stage explorers programme of of development. Our above junior division used their skills term to build theatre skills and their performance term to rehearse and perform Greenville, a one act musical developed fully in house and performed for friends and family at year end. Our Teen Stars and Teen Legends for ages S1 to S6, ran weekly focusing on advanced theatre techniques for on stage and back stage skills. After completing the skills term, the seniors spent their performance term working on their MTI EUROPE JUNIOR THEATRE FESTIVAL performance entry which was an extract from Matilda Jr. They went on to attend a 2 day residential event in Birmingham and competed in the European competing winning the award for Achievement in Acting. They also participated in music, dance and acting workshops with visiting West End professionals during this event. All staff participated in the staff training development sessions at this same event. At term year end the seniors performed this extract at our Magic of Musicals fundraising concert in May. This concert featured community performers age 18+ joining our youth performers. In addition to our regular weekly classes, a number of students participated in solo singing lessons as an additional offering and these children performed at Magic of Musicals as soloists and as duets.
Financial review
Reserves policy
During the year the company had incoming resources amounting to £ 28,669 and resources expended amounted to £ 37,839, giving a deficit of £ 9,170. Taking into account previous years this gives a balance of funds to carry forward of £ 5,418. These reserves are all unrestricted funds and the trustees consider the amount adequate to continue activities, especially as they applied for funding from North Ayrshire Ventures Trust shortly before the year end and have received confirmation that this funding application has been successful.
Plans for future periods
The company plans to continue providing face to face classes now that Covid restrictions have been lifted.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 4 November 2024 and signed on behalf of the board of trustees by:
Ms J MacDougall
Trustee
Largs Youth Theatre Ltd
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Largs Youth Theatre Ltd
Year ended 30 June 2024
I report to the trustees on my examination of the financial statements of Largs Youth Theatre Ltd ('the charity') for the year ended 30 June 2024.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities and Trustee Investment (Scotland) Act 2005 (‘the 2005 Act’), the Charities Accounts (Scotland) Regulations 2006 (as amended) and the Companies Act 2006 (‘the 2006 Act’). You are satisfied that the accounts of the company are not required by charity or company law to be audited and have chosen instead to have an independent examination.
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 the charity’s accounts carried out under section 44(1)(c) of the 2005 Act. In carrying out my examination I have followed the requirements of Regulation 11 of the Charities Accounts (Scotland) Regulations 2006 (as amended). Independent examiner's statement
Since the charity is required by company law to prepare its accounts on an accruals basis and is registered as a charity in Scotland your examiner must be a member of a body listed in Regulation 11(2) of the Charities Accounts (Scotland) Regulations 2006 (as amended). I can confirm that I am qualified to undertake the examination because I am a registered member of ICAS 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 charity as required by section 386 of the 2006 Act, section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; or
2. the financial statements do not accord with those records or with the accounting requirements of Regulation 8 of the Charities Accounts (Scotland) Regulations 2006; or
3. the financial statements 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 financial statements 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.
Morag E Love CA Independent Examiner
Craigminnan Ltd 183 Glen Avenue Largs Ayrshire KA30 8QQ
4 November 2024
Largs Youth Theatre Ltd
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 30 June 2024
2024
2023
Unrestricted funds
Total funds
Total funds
Note
£
£
£
Income and endowments
Donations and legacies
5
3,525
3,525
Charitable activities
6
19,153
19,153
39,584
Other trading activities
7
5,908
5,909
499
Investment income
8
83
83
98
--------
--------
--------
Total income
28,669
28,670
40,181
--------
--------
--------
Expenditure
Expenditure on charitable activities
9,10
37,839
37,839
58,871
Other expenditure
11
2,126
--------
--------
--------
Total expenditure
37,839
37,839
60,997
--------
--------
--------
--------
--------
--------
Net expenditure and net movement in funds
( 9,170)
( 9,169)
( 20,816)
--------
--------
--------
Reconciliation of funds
Total funds brought forward
14,588
14,588
35,404
--------
--------
--------
Total funds carried forward
5,418
5,418
14,588
--------
--------
--------
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Largs Youth Theatre Ltd
Company Limited by Guarantee
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible fixed assets
16
982
1,310
Current assets
Stocks
1,000
500
Cash at bank and in hand
3,917
13,258
-------
--------
4,917
13,758
Creditors: amounts falling due within one year
17
480
480
-------
--------
Net current assets
4,437
13,278
-------
--------
Total assets less current liabilities
5,419
14,588
-------
--------
Net assets
5,419
14,588
-------
--------
Funds of the charity
Unrestricted funds
5,418
14,588
-------
--------
Total charity funds
18
5,418
14,588
-------
--------
For the year ending 30 June 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 4 November 2024 , and are signed on behalf of the board by:
Ms J MacDougall
Trustee
Largs Youth Theatre Ltd
Company Limited by Guarantee
Statement of Cash Flows
Year ended 30 June 2024
2024
2023
£
£
Cash flows from operating activities
Net expenditure
(9,169)
(20,816)
Adjustments for:
Depreciation of tangible fixed assets
328
437
Other interest receivable and similar income
( 83)
( 98)
Accrued income
( 120)
Changes in:
Stocks
( 500)
Trade and other debtors
1,125
-------
--------
Cash generated from operations
( 9,424)
( 19,472)
Interest received
83
98
-------
--------
Net cash used in operating activities
( 9,341)
( 19,374)
-------
--------
Net decrease in cash and cash equivalents
( 9,341)
( 19,374)
Cash and cash equivalents at beginning of year
13,258
32,632
--------
--------
Cash and cash equivalents at end of year
3,917
13,258
--------
--------
Largs Youth Theatre Ltd
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in Scotland and a registered charity in Scotland. The address of the registered office is 81 Alexander Avenue, Largs, Ayrshire, KA30 9EX.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date.
Stocks
Stocks are measured 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 the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
4. Limited by guarantee
Largs Youth Theatre Ltd is a company limited by guarantee, which operates under the control of a management committee, who are elected annually by the members at an Annual General Meeting. Each member's liability is limited to £1.00
5. Donations and legacies
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Donations
Donations received
1,025
1,025
Grants
Grants receivable
2,500
2,500
-------
-------
----
----
3,525
3,525
-------
-------
----
----
6. Charitable activities
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Subscriptions received
19,153
19,153
27,293
27,293
Other income from charitable activities
12,291
12,291
--------
--------
--------
--------
19,153
19,153
39,584
39,584
--------
--------
--------
--------
7. Other trading activities
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Fundraising events
5,908
5,909
499
499
-------
-------
----
----
8. Investment income
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Bank interest receivable
83
83
98
98
----
----
----
----
9. Expenditure on charitable activities by fund type
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Youth theatre services
36,359
36,359
57,391
57,391
Support costs
1,480
1,480
1,480
1,480
--------
--------
--------
--------
37,839
37,839
58,871
58,871
--------
--------
--------
--------
10. Expenditure on charitable activities by activity type
Activities undertaken directly
Support costs
Total funds 2024
Total fund 2023
£
£
£
£
Youth theatre services
36,359
36,359
57,391
Governance costs
1,480
1,480
1,480
--------
-------
--------
--------
36,359
1,480
37,839
58,871
--------
-------
--------
--------
11. Other expenditure
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Donations paid out
2,126
2,126
----
----
-------
-------
12. Net expenditure
Net expenditure is stated after charging/(crediting):
2024
2023
£
£
Depreciation of tangible fixed assets
328
437
----
----
13. Independent examination fees
2024
2023
£
£
Fees payable to the independent examiner for:
Independent examination of the financial statements
480
480
----
----
14. Staff costs
No salaries or wages have been paid to any employees, including the members of the committee, during the year.
15. Trustee remuneration and expenses
Included in tutors fees is an amount of £ 5,152 paid to Trustees & committee members in respect of tuition provided.( 2023 - £ 4,087)
During the year an admin fee of £1,000 was paid to First Property, a business owned by trustee Johann MacDougall, in respect of bookkeeping services. ( 2023 - £1,000)
16. Tangible fixed assets
Equipment
Total
£
£
Cost
At 1 July 2023 and 30 June 2024
14,892
14,892
--------
--------
Depreciation
At 1 July 2023
13,582
13,582
Charge for the year
328
328
--------
--------
At 30 June 2024
13,910
13,910
--------
--------
Carrying amount
At 30 June 2024
982
982
--------
--------
At 30 June 2023
1,310
1,310
--------
--------
17. Creditors: amounts falling due within one year
2024
2023
£
£
Accruals and deferred income
480
480
----
----
18. Analysis of charitable funds
Unrestricted funds
At 1 July 2023
Income
Expenditure
At 30 June 2024
£
£
£
£
General funds
14,588
28,669
(37,839)
5,418
--------
--------
--------
-------
At 1 July 2022
Income
Expenditure
At 30 June 2023
£
£
£
£
General funds
35,404
40,181
(60,997)
14,588
--------
--------
--------
--------
19. Analysis of net assets between funds
Unrestricted Funds
Total Funds 2024
£
£
Tangible fixed assets
982
982
Current assets
4,917
4,917
Creditors less than 1 year
(480)
(480)
-------
-------
Net assets
5,419
5,419
-------
-------
Unrestricted Funds
Total Funds 2023
£
£
Tangible fixed assets
1,310
1,310
Current assets
13,758
13,758
Creditors less than 1 year
(480)
(480)
--------
--------
Net assets
14,588
14,588
--------
--------
20. Analysis of changes in net debt
At 1 Jul 2023
Cash flows
At 30 Jun 2024
£
£
£
Cash at bank and in hand
13,258
(9,341)
3,917
--------
-------
-------