Theatr Gwaun Community Trust - Charities report

REGISTERED COMPANY NUMBER: 07565394 (England and Wales)

REGISTERED CHARITY NUMBER: 1146226

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

THEATR GWAUN COMMUNITY TRUST

(A COMPANY LIMITED BY GUARANTEE)

Page

Report of the Trustees

1

to

2

Independent Examiner's Report

3

Statement of Financial Activities

4

Statement of Financial Position

5

to

6

Notes to the Financial Statements

7

to

13

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 March 2025. 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 objects of the charity are:

The advancement of public education in the arts including drama, theatre, music, dance and film.

The promotion of the arts and in particular but not exclusively the art of film.

To promote for the benefit of the inhabitants of Fishguard, Pembrokeshire, and the surrounding area the provision of facilities for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving the condition of life of the said inhabitants.

Volunteers

The trust operates with the assistance of a team of volunteers.and the support of its associate company, The Friends of Theatr Gwaun CIC.

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.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

07565394 (England and Wales)

Registered Charity number

1146226

Registered office

Theatr Gwaun

West Street

Fishguard

Pembrokeshire

SA65 9AD

Trustees

H W Jones (resigned 31.10.2024)

Mrs P L Morgan Retired

Dr N P Thomas Retired Professor

Ms B R Giacci Retired Civil Servant

S A Coton Information Systems Consultant

M Ponsford Retired (appointed 28.10.2024)

Ms C Y Williams (appointed 20.6.2025)

Independent Examiner

C W F Marshall FFA

William Marshall & Co

Financial Accountants

Park View House

Ropewalk

Fishguard

Pembrokeshire

SA65 9BT

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 29 December 2025 and signed on its behalf by:

Dr N P Thomas - Trustee

Independent examiner's report to the trustees of Theatr Gwaun Community Trust ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.

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.

C W F Marshall FFA

The Institute of Financial Accountants

William Marshall & Co

Financial Accountants

Park View House

Ropewalk

Fishguard

Pembrokeshire

SA65 9BT

29 December 2025

2025

2024

Unrestricted

Restricted

Total

fund

funds

as restated

Notes

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

88,656

-

88,656

87,864

Other trading activities

3

118,373

-

118,373

112,995

Other income

983

-

983

1,704

Total

208,012

-

208,012

202,563

EXPENDITURE ON

Raising funds

4

155,804

-

155,804

104,222

Charitable activities

5

Abigail's fund awards

1,250

-

1,250

Other

46,212

-

46,212

87,650

Total

203,266

-

203,266

193,122

NET INCOME

4,746

-

4,746

9,441

Transfers between funds

16

7,750

(7,750

)

-

Net movement in funds

12,496

(7,750

)

4,746

9,441

RECONCILIATION OF FUNDS

Total funds brought forward

60,135

7,750

67,885

58,444

TOTAL FUNDS CARRIED FORWARD

72,631

-

72,631

67,885

2025

2024

Unrestricted

Restricted

Total

fund

funds

as restated

Notes

£

FIXED ASSETS

Tangible assets

12

31,384

-

31,384

37,687

CURRENT ASSETS

Debtors

13

7,375

-

7,375

12,807

Cash at bank and in hand

59,665

-

59,665

31,976

67,040

-

67,040

44,783

CREDITORS

Amounts falling due within one year

14

(21,679

)

-

(21,679

)

(14,585

)

NET CURRENT ASSETS

45,361

-

45,361

30,198

TOTAL ASSETS LESS CURRENT
LIABILITIES

76,745

-

76,745

67,885

CREDITORS

Amounts falling due after more than one year

15

(4,114

)

-

(4,114

)

-

NET ASSETS

72,631

-

72,631

67,885

FUNDS

16

Unrestricted funds:

General fund

72,631

60,135

Restricted funds:

Abigail's Arts Award Fund

-

7,750

TOTAL FUNDS

72,631

67,885

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 29 December 2025 and were signed on its behalf by:

Dr N P Thomas - Trustee

P L Morgan - Trustee

B R Giacci - Trustee

S A Coton - Trustee

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.

Plant and machinery

-

20% on reducing balance

Computer equipment

-

33% on cost

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.

2.	DONATIONS AND LEGACIES

2025

2024

as restated

£

Donations

34,603

27,626

Grants

54,053

60,238

88,656

87,864

Grants received, included in the above, are as follows:

2025

2024

as restated

£

Other grants

54,053

60,238

3.	OTHER TRADING ACTIVITIES

2025

2024

as restated

£

Fundraising events

6,037

1,175

Social lotteries

840

705

Films

55,139

54,915

Satellite screenings

17,956

9,420

Live performances

22,625

27,879

Booking receipts

2,648

2,274

Advertising

5,580

1,954

Membership fees

1,605

5,289

Hire of Theatr

3,651

4,483

Support services

2,292

4,901

118,373

112,995

4.	RAISING FUNDS

Raising donations and legacies

2025

2024

as restated

£

Support costs

47,418

-

Other trading activities

2025

2024

as restated

£

Staff costs

27,300

25,480

Film rental & transport

37,233

30,610

Performance fees

20,753

26,359

Management fees

-

2,042

Technical fees

6,311

5,000

Booking services & ticketing system

6,484

6,622

98,081

96,113

Investment management costs

2025

2024

as restated

£

Property repairs

10,305

8,109

Aggregate amounts

155,804

104,222

5.	CHARITABLE ACTIVITIES COSTS

Grant

funding of

activities

(see note

6)

£

Abigail's fund awards

1,250

6.	GRANTS PAYABLE

2025

2024

as restated

£

Abigail's fund awards

1,250

7.	SUPPORT COSTS

Information

Governance

Finance

technology

Other

costs

Totals

£

Raising donations and
legacies

-

47,418

-

47,418

Other resources expended

2,393

124

32,912

4,480

39,909

2,393

124

80,330

4,480

87,327

8.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2025

2024

as restated

£

Depreciation - owned assets

6,303

4,350

Other operating leases

1,200

1,026

9.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.

10.	STAFF COSTS

2025

2024

as restated

£

Wages and salaries

72,685

63,833

Other pension costs

1,457

738

74,142

64,571

The average monthly number of employees during the year was as follows:

2025

2024

as restated

Cinema and support staff

-

10

No employees received emoluments in excess of £60,000.

11.	PRIOR YEAR ADJUSTMENT

The original solar panel installation in 2022 has been reclassified from revenue expenditure to a fixed asset.[Net adjustment £16,999 less depreciation £4,534 = £12,455]

12.	TANGIBLE FIXED ASSETS

The Trust operated Theatr Gwaun, Fishguard, in accordance with the objects of the Trust under a lease from Pembrokeshire County Council until 17 December 2018. The theatre land and buildings were transferred to the Trust on that date by the Council by means of a formal Community Asset Transfer. No costs were incurred by the Trust in relation to the transfer. A valuation of the land and buildings was not available at the time of this report.

13.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

as restated

£

Trade debtors

283

1,721

Other debtors

-

3,783

Friends of Theatr Gwaun CIC

6,066

7,303

VAT

1,026

-

7,375

12,807

14.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

as restated

£

Trade creditors

16,478

6,958

VAT

-

77

Other creditors

5,201

7,550

21,679

14,585

15.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

as restated

£

Youth theater provision

4,114

-

16.	MOVEMENT IN FUNDS

Net

Transfers

movement

between

At

At 1.4.24

in funds

funds

31.3.25

£

Unrestricted funds

General fund

60,135

4,746

7,750

72,631

Restricted funds

Abigail's Arts Award Fund

7,750

-

(7,750

)

-

TOTAL FUNDS

67,885

4,746

-

72,631

Net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

208,012

(203,266

)

4,746

TOTAL FUNDS

208,012

(203,266

)

4,746

Comparatives for movement in funds

Prior

Net

year

movement

At

At 1.4.23

adjustment

in funds

31.3.24

£

Unrestricted funds

General fund

36,988

12,456

10,691

60,135

Restricted funds

Abigail's Arts Award Fund

9,000

-

(1,250

)

7,750

TOTAL FUNDS

45,988

12,456

9,441

67,885

Comparative net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

202,563

(191,872

)

10,691

Restricted funds

Abigail's Arts Award Fund

-

(1,250

)

(1,250

)

TOTAL FUNDS

202,563

(193,122

)

9,441

17.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2025.