Charity Registration No. SC035750 (Scotland)
Company Registration No. SC267273 (Scotland)
SHONA REPPE PUPPETS
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
SHONA REPPE PUPPETS
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Simon Hart
Gill Robertson
Hazel Wotherspoon
Secretary
Gill Robertson
Charity number (Scotland)
SC035750
Company number
SC267273
Registered office
22b High Street
East Linton
East Lothian
EH40 3AB
Independent examiner
McFadden Associates Limited
19 Rutland Square
Edinburgh
EH1 2BB
SHONA REPPE PUPPETS
CONTENTS
Page
Trustees' report
1 - 2
Independent examiner's report
3
Statement of financial activities
4
Balance sheet
5
Notes to the financial statements
6 - 11
SHONA REPPE PUPPETS
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 30 APRIL 2024
- 1 -

The Trustees present their report and financial statements for the year ended 30 April 2024.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity's articles of association, the Companies Act 2006 the Charities Accounts (Scotland) Regulations 2006 (as amended) and under the requirements 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 2016) – (Charities SORP (FRS 102)).
Objectives and activities

As stated in the Memorandum of Association (2000) Shona Reppe Puppets' objects are:

 

"to advance public education by the encouragement of the performing arts, including without limiting the foregoing, the arts of puppetry, drama, ballet, dance, mask, mime and music"

 

In furtherance of the stated objects, the company shall:

 

"Present, promote, organise, manage, produce and record such plays, dramas, comedies, operas, ballets, concerts, recitals, films, videos, radio and television broadcasts, all kinds of audio, visual and multimedia productions and other events, community arts activities and performances"

Achievements and performance

The research project Hospital Radio concluded in 2023, and was followed by development on a new piece entitled The Point of Wasps. This was carried out over the year, working towards a live gig style show for young audiences.

Plans for future periods

It is hoped creation of the Point of Wasps will happen in 2025, pending funding confirmation.

 

Financial review

The results for the year are set out in the Statement of Financial Activities. The charity made a surplus of £13,655 for the year (2023: deficit of £265) of which a surplus of £15,333 (2023: £1,276) related to Restricted Funds. The charity has total funds carried forward at 30 April 2024 of £22,636. These funds are represented by Unrestricted Funds of £6,027 (2023 - £7,705) and Restricted Funds of £16,609 (2023 - £1,276). The Board adopted a formal reserves policy to have three months running costs in Unrestricted Reserves, which is approximately £8,500.

Risk Management

 

The Trustees are satisfied that they have identified the main areas of risk and that steps are being taken to minimise the potential impact of these risks on the life of the charity.

Structure, governance and management
The company is limited by guarantee and a registered charity (SC035750)
The directors of the charitable company Shona Reppe Puppets Limited, are its Trustees for the purpose of charity law and throughout this report are collectively referred to as the Trustees.

The Trustees who served during the year and since the year end were as follows:
Simon Hart
Gill Robertson
Hazel Wotherspoon
SHONA REPPE PUPPETS
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -
Directors are currently recruited for their understanding and support of the work of the company and specialist skills and knowledge.  Currently the directors have skills in the areas of running a charitable organisation, fundraising, public funding for arts organisations, management and marketing and audience development for the arts.

Organisational Management

 

The Board of Trustees meets twice yearly and is responsible for setting the policies that direct Shona Reppe Puppets' activities and to keep up to date with changes in legislature. Shona Reppe is the founder and artistic director of Shona Reppe Puppets and makes decisions on the artistic programme and output of the charity. Trustees develop the strategic plan for the company in collaboration with the Shona Reppe.

On behalf of the board of Trustees

Gill Robertson
Trustee
Dated: 24 January 2025
SHONA REPPE PUPPETS
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF SHONA REPPE PUPPETS
- 3 -

I report on the financial statements of the Charity for the year ended 30 April 2024, which are set out on pages 4 to 11.

Respective responsibilities of Trustees and examiner

The Charity’s Trustees, who are also the directors of Shona Reppe Puppets for the purposes of company law, are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investments (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The Trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the financial statements as required under section 44(1)(c) of the Act and to state whether particular matters have come to my attention.

Basis of independent examiner's statement

My examination is carried out in accordance with Regulation 11 of the 2006 Accounts Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the financial statements.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

(a)
which gives me reasonable cause to believe that in any material respect the requirements:
(i)

to keep accounting records in accordance with section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and

(ii)

to prepare financial statements which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations;

have not been met or
(b)

to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.

David Stewart CA
19 Rutland Square
Edinburgh
EH1 2BB
Dated: 24 January 2025
SHONA REPPE PUPPETS
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
Notes
£
£
£
£
£
£
Income from:
Charitable activities
3
-
17,827
17,827
-
3,625
3,625
Investments
4
54
-
54
7
-
7
Total income
54
17,827
17,881
7
3,625
3,632
Expenditure on:
Charitable activities
5
1,732
2,494
4,226
1,548
2,349
3,897
Net (expenditure)/income for the year/
Net movement in funds
(1,678)
15,333
13,655
(1,541)
1,276
(265)
Fund balances at 1 May 2023
7,705
1,276
8,981
9,246
-
9,246
Fund balances at 30 April 2024
6,027
16,609
22,636
7,705
1,276
8,981

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
SHONA REPPE PUPPETS
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 5 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
9
598
4,260
Cash at bank and in hand
22,788
5,472
23,386
9,732
Creditors: amounts falling due within one year
10
(750)
(751)
Net current assets
22,636
8,981
Income funds
Restricted funds
11
16,609
1,276
Unrestricted funds
6,027
7,705
22,636
8,981

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 April 2024.

The Trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the 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 company.

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.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 24 January 2025
Gill Robertson
Trustee
Company Registration No. SC267273
SHONA REPPE PUPPETS
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
1
Accounting policies
Charity information

Shona Reppe Puppets is a private company limited by guarantee incorporated in Scotland. The registered office is 22b High Street, East Linton, East Lothian, EH40 3AB.

1.1
Accounting convention

The financial statements have been prepared in accordance with the Charity's [governing document], the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and "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)". The Charity is a Public Benefit Entity as defined by FRS 102.

 

The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity.
1.4
Income
Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
SHONA REPPE PUPPETS
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 7 -
1.5
Expenditure

Expenditure is recognised when a liability is incurred.

 

Charitable activities include expenditure associated with the staging of productions and include both direct and support costs relating to these activities.

 

Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.

 

Support costs include central functions and have been allocated to the charitable activity on a basis consistent with their use.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Motor vehicles
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

1.7
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

SHONA REPPE PUPPETS
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 8 -
Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.

2
Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Charitable activities
Theatrical productions
Theatrical productions
2024
2023
£
£
Performance related grants
17,827
3,625
4
Investments
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Interest receivable
54
7
SHONA REPPE PUPPETS
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 9 -
5
Charitable activities
Theatrical Production
Theatrical Production
2024
2023
£
£

Production costs

1,993
2,349

Insurance

1,173
1,225

Bank charges

63
63

Marketing and Advertising

132
18
3,361
3,655
Share of support costs (see note 6)
102
111
Share of governance costs (see note 6)
763
131
4,226
3,897
Analysis by fund
Unrestricted funds
1,732
1,548
Restricted funds
2,494
2,349
4,226
3,897
6
Support costs
Support costs
Governance costs
2024
Support costs
Governance costs
2023
£
£
£
£
£
£

Repairs and maintenance

102
-
102
111
-
111
Accountancy
-
750
750
-
-
-
Legal and professional
-
13
13
-
131
131
102
763
865
111
131
242
Analysed between
Charitable activities
102
763
865
111
131
242
7
Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.
SHONA REPPE PUPPETS
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 10 -
8
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
-
0
-
0
9
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
125
125
Other debtors
-
3,625
Prepayments and accrued income
473
510
598
4,260
10
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
-
1
Accruals and deferred income
750
750
750
751
11
Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
Movement in funds
Movement in funds
Incoming resources
Resources expended
Balance at
1 May 2023
Incoming resources
Resources expended
Balance at
30 April 2024
£
£
£
£
£
£
Creative Scotland - Hospital Radio
3,625
(2,349)
1,276
-
(1,276)
-
WASPS
-
-
-
17,827
(1,218)
16,609
3,625
(2,349)
1,276
17,827
(2,494)
16,609
SHONA REPPE PUPPETS
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 11 -
12
Analysis of net assets between funds
Unrestricted funds
Restricted funds
Total
Unrestricted funds
Restricted funds
Total
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£
Fund balances at 30 April 2024 are represented by:
Current assets/(liabilities)
6,027
16,609
22,636
7,705
1,276
8,981
6,027
16,609
22,636
7,705
1,276
8,981
13
Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

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