REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Financial Statements for the Year Ended 30 June 2024 |
for |
Wick Players |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Financial Statements for the Year Ended 30 June 2024 |
for |
Wick Players |
Wick Players |
Contents of the Financial Statements |
for the Year Ended 30 June 2024 |
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 |
Wick Players (Registered number: SC258114) |
Report of the Trustees |
for the Year Ended 30 June 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 30 June 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 charity's objects and its principal activity is that of an amateur theatre company promoting and fostering the performing arts. To this end a number of productions and fund raising events are held each year as well as participation in the Scottish Community Drama Association Festivals. |
Significant activities |
The charity was involved in the SCDA one act drama festivals, successfully making it through the local and divisional finals to the Scottish finals. This year's pantomime, The Snow Queen, was performed in Wick Assembly Rooms in December 2023. |
FINANCIAL REVIEW |
Principal funding sources |
The running costs of the charity are met from the income generated from plays and pantomimes performed before live audiences and membership fees. |
Reserves policy |
The management committee has examined the charity's requirement for reserves in light of the main risks to the organisation. The unrestricted reserves are necessary to cover approximately 6 months operating expenditure in accordance with good practice. |
The charity continues in a sound financial manner but continual review of income and cost resources is ongoing. |
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. |
The organisation is a charitable company limited by guarantee, incorporated on 23 October 2003 and registered as a charity on 23 October 2003. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1. |
Recruitment and appointment of new trustees |
The directors, as the trustees are known, during the year of review to the date of this report are listed below. |
Due to the nature of the charity's work the management committee seek to ensure the needs of the members are appropriately reflected through the diversity of the committee while also ensuring that the more traditional business skills are also represented. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Wick Players (Registered number: SC258114) |
Report of the Trustees |
for the Year Ended 30 June 2024 |
Registered office |
Trustees |
Company Secretary |
Independent Examiner |
Linda Cameron FCCA CTA CA |
Reid & Fraser |
Chartered Accountants |
92 High Street |
Wick |
Caithness |
KW1 4LY |
Bankers |
The Royal Bank of Scotland PLC |
11 Olrig Street |
Thurso |
KW14 7BL |
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 |
Wick Players (Registered number: SC258114) |
I report on the accounts for the year ended 30 June 2024 set out on pages four to thirteen. |
Respective responsibilities of trustees and examiner |
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention. |
Basis of the independent examiner's report |
My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as 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 accounts. |
Independent examiner's statement |
In connection with my examination, no matter has come to my attention : |
(1) | which gives me reasonable cause to believe that, in any material respect, the requirements |
- | to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and |
- | to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations |
have not been met; or |
(2) | to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. |
Linda Cameron FCCA CTA CA |
The Institute of Chartered Accountants of Scotland |
Reid & Fraser |
Chartered Accountants |
92 High Street |
Wick |
Caithness |
KW1 4LY |
24 March 2025 |
Wick Players |
Statement of Financial Activities |
for the Year Ended 30 June 2024 |
2024 | 2023 |
Unrestricted | Total |
funds | funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
Charitable activities | 5 |
Other trading activities | 3 |
Investment income | 4 |
Other income |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities | 6 |
Other |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 82,492 |
Wick Players (Registered number: SC258114) |
Balance Sheet |
30 June 2024 |
2024 | 2023 |
Unrestricted | Total |
funds | funds |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 11 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 12 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 13 | ( |
) | ( |
) |
NET ASSETS |
FUNDS | 15 |
Unrestricted funds | 82,492 |
TOTAL FUNDS | 82,492 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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. |
Wick Players (Registered number: SC258114) |
Balance Sheet - continued |
30 June 2024 |
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 |
Wick Players |
Notes to the Financial Statements |
for the Year Ended 30 June 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. |
TANGIBLE FIXED ASSETS |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Freehold property | - |
Equipment | - |
Computer equipment | - |
TAXATION |
The charity is exempt from corporation tax on its charitable activities. |
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. |
GOVERNMENT GRANTS |
Government grants in respect of capital expenditure are credited to a deferred income account and released to the profit and loss account over the useful lives of the relevant assets. |
Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate. |
Wick Players |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
2. | DONATIONS AND LEGACIES |
2024 | 2023 |
£ | £ |
Donations |
Grants |
Subscriptions |
Grants received, included in the above, are as follows: |
2024 | 2023 |
£ | £ |
Energy Savings Trust | - | 5,625 |
Dounreay Communities Fund | 1,737 | - |
1,737 | 5,625 |
3. | OTHER TRADING ACTIVITIES |
2024 | 2023 |
£ | £ |
Fundraising events |
4. | INVESTMENT INCOME |
2024 | 2023 |
£ | £ |
Investment Income | 515 | 276 |
5. | INCOME FROM CHARITABLE ACTIVITIES |
2024 | 2023 |
£ | £ |
Plays and Pantomimes | 15,702 | 6,830 |
15,702 | 6,830 |
Wick Players |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
6. | CHARITABLE ACTIVITIES COSTS |
2024 | 2023 |
£ | £ |
Expenses of plays and pantomimes | 14,981 | 5,200 |
Insurance and rates | 2,479 | 2,141 |
Heat and light | 1,052 | 362 |
Depreciation | 4,505 | 4,666 |
23,017 | 12,369 |
7. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2024 | 2023 |
£ | £ |
Depreciation - owned assets |
8. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 30 June 2024 nor for the year ended 30 June 2023. |
TRUSTEES' EXPENSES |
There were no trustees' expenses paid for the year ended 30 June 2024 nor for the year ended 30 June 2023. |
9. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
2024 | 2023 |
Management (Trustees) |
10. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted |
funds |
£ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Investment income |
Total |
EXPENDITURE ON |
Wick Players |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
10. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted |
funds |
£ |
Charitable activities |
Other |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 82,492 |
11. | TANGIBLE FIXED ASSETS |
Freehold | Computer |
property | Equipment | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 July 2023 |
Additions |
At 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
Wick Players |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other loans (see note 14) |
Trade creditors |
13. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Other loans (see note 14) | 1,580 |
14. | LOANS |
An analysis of the maturity of loans is given below: |
2024 | 2023 |
£ | £ |
Amounts falling due within one year on demand: |
Other loans | 234 | 234 |
Amounts falling between one and two years: |
Other loans - 1-2 years |
Amounts falling due between two and five years: |
Other loans - 2-5 years |
Amounts falling due in more than five years: |
Repayable by instalments: |
Other loans more 5yrs instal | 410 | 644 |
15. | MOVEMENT IN FUNDS |
Net | Transfers |
movement | between | At |
At 1.7.23 | in funds | funds | 30.6.24 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 34,854 | (11,685 | ) | 47,638 | 70,807 |
Pre-incorporation surplus | 47,638 | - | (47,638 | ) | - |
(11,685 | ) |
TOTAL FUNDS | (11,685 | ) | 70,807 |
Wick Players |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
15. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 23,238 | (34,923 | ) | (11,685 | ) |
TOTAL FUNDS | ( |
) | (11,685 | ) |
Comparatives for movement in funds |
Net |
movement | At |
At 1.7.22 | in funds | 30.6.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 37,157 | (2,303 | ) | 34,854 |
Pre-incorporation surplus | 47,638 | - | 47,638 |
84,795 | (2,303 | ) | 82,492 |
TOTAL FUNDS | 84,795 | (2,303 | ) | 82,492 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 13,241 | (15,544 | ) | (2,303 | ) |
TOTAL FUNDS | 13,241 | (15,544 | ) | (2,303 | ) |
16. | RELATED PARTY DISCLOSURES |
Wick Players |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
17. | PRE-INCORPORATION SURPLUS |
Pre-incorporation surplus is the accumulated surplus of the previous entity prior to incorporation on 23 October 2003. This unrestricted surplus has been transferred to the unrestricted general fund in the year to 30 June 2024. |