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2023-06-30-accounts

REGISTERED COMPANY NUMBER: 02899281 (England and Wales) REGISTERED CHARITY NUMBER: 1034690

Report of the Trustees and Unaudited Financial Statements for the year ended 30[th] June 2023

for

Altrincham Garrick Society Limited

(A company limited by guarantee)

Allen Mills Howard Limited Chartered Accountants Lewis House 56, Manchester Road Altrincham Cheshire WA14 4PJ

Altrincham Garrick Society Limited

Contents of the Financial Statements For the year ended 30th June 2023

Page
Report of the Trustees 1 - 8
Independent Examiner’s report 9
Statement of Financial Activities 10
Balance Sheet 11
Statement of Financial Cash Flows 12
Notes to the Financial Statements 13 - 23

Altrincham Garrick Society Limited

Report of the Trustees For the year ended 30th June 2023

Reference and Administrative Details

Registered Company number 02899281 (England and Wales)

Registered Charity number 1034690

Registered Office

The Garrick Playhouse Barrington Road Altrincham Cheshire WA14 1HZ

Trustees

Mr H F Everett (Chair) Mr J D Beddy Mr C J Tomlinson Mr D P Mazurkiewicz Citrine Mrs A K Walker Mr T B McKie Mr R B Walla Appointed 29[th] November 2022 and resigned 22[nd] January 2024

Company Secretary Mr C J Tomlinson

Independent Examiner

David Keith Allen FCCA Allen Mills Howard Limited Chartered Accountants Lewis House 56 Manchester Road Altrincham Cheshire WA14 4PJ

Solicitors Myerson Solicitors Grosvenor House 20, Barrington Road Altrincham Cheshire WA14 1HB

Bankers Barclays Bank Plc 48 George Street Altrincham WA14 1RH

1

Altrincham Garrick Society Limited

Report of the Trustees For the year ended 30th June 2023

The trustees, who are also directors of the charity for the purpose of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30th June 2023. 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 (FRS102) (effective 1[st] January 2019).

Chair’s Report

The Society is reporting a deficit of approximately £27K for the season 2022/2023. The deficit in the previous season (affected by Covid-19 restrictions) was approx. £28K.

The 2022/2023 season was our first “normal” season (i.e. unaffected by Covid-19 restrictions, and subject to very little fear of the virus). Our audience sizes in this season exceeded both the previous season, and also the last “normal” season before Covid-19. This in turn resulted in higher income; this season saw a 22% increase in income over the previous season. Our gross surplus (before allowing for theatre overheads) was 65% of our income.

However, a large increase in theatre overhead costs this season – many outside our control - resulted in the overall small deficit this season. Utilities costs alone, for example, rose by over £48K (107%); without this huge rise we would have shown a small overall surplus of over £25K.

We achieved our charity’s aims in 2022/2023, by providing entertainment to our local community, encouraging and increasing participation from members of the local community, and supporting our local community wherever possible. We are also proud to have continued to provide education to over 150 local children through our Garrick Academy, and to expand our engagement with the 18 to 30 age group.

In addition to our commitment to continue to engage with the local community, we also recognise our commitment to maintaining a local historic theatre building. Our repairs and renewals budget is under constant review, and we continue to commit £50K during each season to sustaining the theatre itself as a viable centre for the community.

Hugh Everett Chairman of the Board of Trustees

2

Altrincham Garrick Society Limited

Report of the Trustees For the year ended 30th June 2023

Structure, Governance and Management

Governing Document

The charity is controlled by its governing document the Memorandum & Articles of Association and is a company limited by guarantee, as defined by the Companies Act 2006. The liability of each member in the event of winding up is limited to £1.

Board of Trustees

The Board have sole responsibility for appointing trustees. All trustees are also appointed Directors of the company. There has to be a minimum of three trustees but there is no maximum. In appointing trustees, the Board seek to bring a range of skills and expertise to the management of the Charity. Trustees are kept updated through regular trustees’ meetings and communication throughout the year. New trustees have an initial induction meeting to go over the core responsibilities and expectations of the role. This same meeting will provide an opportunity to ask questions and identify any knowledge gaps for which a solution can be agreed and implemented.

The trustees of the company who were in office during the year and up to the date of signing the financial statements were:

Mr J D Beddy Mr H F Everett Mr C J Tomlinson Mr D P Mazurkiewicz Citrine Mrs A K Walker Mr T B McKie Mr R B Walla Appointed 29[th] November 2022 & resigned 22[nd] January 2024

Organisation

The Board of Trustees meets every 8 to 12 weeks, and also communicates very often via email and Instant Messaging. The Board appoints two main salaried positions: an Artistic Director to deal with the production and management of shows and an Operations Director to handle the day-to-day running of the Theatre.

Related Parties

None of our trustees receive remuneration or other benefits from the charity. Any connection between the trustees or senior managers of the charity with a production company, contracted actor, or performer must be disclosed to the full Board of Trustees in the same way as any other contractual relationship with a related party. In the current year no such related party transactions were reported.

The Charity’s wholly owned subsidiary Altrincham Garrick Playhouse Limited was established to operate the commercial bar and Theatre letting. The profits of the subsidiary are donated to the charity.

3

Altrincham Garrick Society Limited

Report of the Trustees For the year ended 30th June 2023

Objectives and Activities

The Mission of the charity (what we do now) is:

The Vision of the charity (where we are headed) is:

The Theatre is disabled friendly. We have a designated Front of House Volunteer in attendance at every performance to meet and give assistance to every disabled person as soon as they enter the Theatre. A row of seats in the Theatre is specially modified to accommodate wheelchairs and there is also a hearing loop system. Guide dogs are allowed to accompany their owners throughout the Theatre and carers are given a free seat.

In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission’s guidance on public benefit, including the fee charging. The Theatre relies on investment income, donations and the income from fees and charges to cover our operating costs. In setting the level of fees, charges and concessions, the trustees consider carefully the accessibility of the Theatre for those on low incomes.

The strategies employed to achieve the charity’s aims and objectives are to:

Our major activities that put these strategies into action are:

  1. Live stage performances of all types of drama and musicals; produced in-house

  2. Other live events: concerts, other musical events, and performances from visiting companies; these are run as Lets, with ticket revenue typically being split between the Visiting Production and the Garrick

  3. Cinematic and theatrical Screenings; using live-feeds and DVD/MP4-based material

  4. Educational programmes, including drama schools covering ages 5 to 18

  5. Educational programmes, comprising the Garrick Academy covering ages 5 to 18, the Garrick Ensemble for ages 18 to 30, and LAMDA education (aimed at training students for acting exams).

4

Altrincham Garrick Society Limited

Report of the Trustees For the year ended 30th June 2023

Our programme of activities described below focusses on bringing the arts to the community. As our strategy makes clear, we try to encourage all within our community to take part in our activities and to attend our Theatre and to benefit from our amenities. The drama and art we provide is to be enjoyed by all, including those attending local schools or the higher education colleges, through to our programme that tries to embrace all tastes by hosting visiting artistes. Affordability and access to our programme is important to us and is reflected in our pricing policy set out in detail later in this report.

1. Live Stage Performances produced in-house

In this 2022/2023 season, we staged more live performances than in the last “non-Covid-19” season (2018/2019). This included a full season in our Studio theatre. This was despite having to cancel one mainstage production ( The Father ) at very short notice.

Our mainstage productions in 2022/2023 achieved 74% capacity, compared to 73% in 2018/2019 and 64% in 2021/2022.

2. Other Live Events

We hosted 42 Visiting Productions (at 70% capacity) during the 2022/2023 season. This compares to 47 at 55% capacity in 2021/2022, and 50 at 70% capacity in 2018/2019.

3. Cinematic and Theatrical Screenings

We continued with our programme of showing films, and resumed our engagement with the National Theatre to show theatrical screenings. 28 screenings this season resulted in a 28% capacity, comparing well with 16 in the previous season at 14% capacity.

4. Educational Programmes

Our educational programmes involve the youth in the community. They aim to develop students’ confidence and expression across a range of arts.

For school-aged children, this educational work is done through the Garrick Academy of Performing Arts, which operates on Saturday mornings through three terms, provides week-long courses during half-term, and offers a Summer School. Students from the Academy also perform on our main stage, giving them experience which they would not get elsewhere. Our Bursary scheme enables children from disadvantaged backgrounds to have their fees paid.

The Garrick Ensemble is aimed at the 18-30 age group. This aims to retain this age group’s involvement with the theatre, to expand and further their knowledge and skills. Many of the Garrick Ensemble also pursue professional careers, using experience gained at the Garrick to enrich their CVs.

We also provide LAMDA training, aimed at the 11-16 year olds who want to take LAMDA examinations.

Our main stage and our Studio Theatre are also used to provide training and education on sound, lighting and other technical matters associated with theatre production. Our technicians dedicate time to training people in the crafts associated with the Theatre, many of whom have gone on to paid employment in these fields.

5

Altrincham Garrick Society Limited

Report of the Trustees For the year ended 30th June 2023

Other Activities

We are a cultural centre and meeting place for local writers and dance troupes, and we make the Theatre and its facilities available for the many participants. We are the assembly point for fire and the emergency centre for two adjacent nursery schools.

We encourage and support fund-raising activities for local and national charities, such as Francis House, Marie Curie Cancer Care, Christies Hospital, The Macmillan Nurses, The British Legion Poppy Appeal, Breast Cancer UK and more.

The first night of pantomime tickets is donated to local disadvantaged children and adults and their carers within the Trafford community.

Our Volunteers

The Society is very involved in the community and relies on voluntary help. Besides those amateur performers and artists who display their talents at the Theatre, over 50 volunteers assist with stewarding events and performances, enabling longer opening and lower staff costs than would otherwise be the case.

Our Artistic Values

We are aware that artistic tastes are not the same for everyone and that when addressing some of the more challenging themes the productions might give rise to offence. We take the views of our audiences very seriously and, without comprising the integrity of the programme, we seek to respect the diverse ethnic, faith, sexual orientation and lifestyles of our community and audience. We run a suggestions and complaints procedure through our Operations Director. The Board acknowledges and addresses all complaints.

Public Benefit

The trustees confirm that they have, when and where necessary to do so, paid regard to the Charity Commissioner’s Guidance on Public Benefit when considering and making decisions.

6

Altrincham Garrick Society Limited Report of the Trustees For the year ended 30th June 2023

Financial Review

The charitable company is reporting a deficit of £26,568 for the financial year (2022: deficit of £27,860).

The principal source of income in the year was from admissions charges which totalled £428,793 (2022: £380,258). We also received income from kiosk, programme and catering sales of £52,335 (2022: £45,623) and from our drama academy of £78,404 (2022: £59,983).

Our expenditure for the year totalled £758,885 (2022: £618,501), with direct production expenses costing £187,608 (2022: £153,918). Staff costs rose by £16,056 (7.3%) compared to the previous year to £237,178, with premises costs rising by 53.7% to £148,757 (2022: £96,723), including the cost of utilities which rose by £48,890 (108%) to £94,102 (2022: £45,212).

The selection of our Productions, Screenings and Visiting Productions for 2022/2023 provided a mixture of popular choices and more challenging pieces. Our aim was to continue to tempt audience members back into the theatre, whilst still allowing modern creative arts their space and time.

We were pleased to the goss total footfall reach approx 66% of capacity, generating a gross total ticket revenue of £615K in the 2022/2022 season (compared to 57% and £505K in the 2021/2022 season). Note that a large proportion of that gross total ticket revenue was paid back to Visiting Productions and to the local community groups.

Pricing Policy

Our pricing policy reflects our strategy of enabling all within our community, whatever their means, to take part in our activities and to attend our Theatre.

Ticket prices for Garrick productions during the 2022/2023 season varied between £5 and £20, with concessions available for most performances.

To view our programme, and for further details of ticket prices and discount terms and conditions, please visit our website at www.altrinchamgarrick.co.uk or telephone our booking office on 0161 928 1677.

Reserves Policy

Reserves are needed to bridge the funding gaps between spending on productions and events and receiving resources through admission charges as well as covering overhead costs, where unexpected shortfalls in income are experienced. The charity aims to have free reserves which are those unrestricted and undesignated funds not invested in fixed assets of at least £300,000 for this purpose. The balance of reserves are held to cover identified planned repairs and improvements and emergency repairs to the theatre.

Our reserves were crucial to enabling us to survive the financial hardships of the Covid-19 pandemic. Free reserves at 30[th] June 2023 amounted to £299,471 (compared to 30[th] June 2022: £339,635), thus we are now restored to our stipulated amount.

Investment Powers and Policy

The trustees, having regard to the liquidity requirements of operating the Theatre and to the reserves policy, have operated a policy of keeping available funds in a number of interest-bearing accounts and seek to achieve a rate on deposit which matches or exceeds inflation, as measured by the retail prices index. Due to wider economic circumstances, deposit rates have been depressed and so this aim was not achieved in the year.

7

Altrincham Garrick Society Limited

Report of the Trustees For the year ended 30th June 2023

Plans for Future Periods

During the forthcoming year the trustees will continue to raise the profile of the charity within the local community in order to attract further sponsorship and donations. Negotiations to receive routine funding are also in progress. We have many demands financially at the theatre, to maintain the building, to remain up to date on Health and Safety issues, and to continue to be able to stage very high quality productions.

Risk management

The trustees have a risk management strategy which comprises:

This work has identified that financial sustainability is the major financial risk for both the charity and its subsidiary. Attention has also been focussed on non-financial risks arising from fire and health and safety. Management of financial risk is via reviewed reserves policy and the retention of sufficient working capital by the subsidiary company.

Trustees Indemnity Arrangements

Individual indemnities have been provided by the trustees, under which the charity has agreed to indemnify the trustees to the extent permitted by law in respect of all liabilities to third parties arising out of, or in connection with, their execution of their powers, duties and responsibilities as trustees of the charity.

This report has been prepared in accordance with the special provisions in Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

……………………………… Hugh Everett - Trustee

28[th] March 2024

8

Independent Examiner’s Report to the Trustees of Altrincham Garrick Society Limited For the year ended 30th June 2023

I report to the trustees on my examination of the financial statements of Altrincham Garrick Society Limited ('the charity') for the year ended 30 June 2023.

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 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 the 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

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants (ACCA), 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; or

  2. the financial statements do not accord with those records; 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.

David K Allen FCCA FCA Allen Mills Howard Limited Chartered Accountants Lewis House 56 Manchester Road Altrincham Cheshire WA14 4PJ

28[th] March 2024

9

Altrincham Garrick Society Limited (Registered number: 02899281)

Statement of Financial Activities Statement of Financial Activities Statement of Financial Activities
(Incorporating an Income and Expenditure Account)
For the year ended 30th June 2023
Unrestricted Funds Total Total
General Designated Funds Funds
2023 2022
Notes £ £ £ £
Income from:
Donations and legacies 3 27,644 - 27,644 16,105
Charitable activities:
Operation of theatre 4 645,869 - 645,869 537,716
Other trading activities 5 52,912 3,155 56,067 35,400
Investment income 6 2,703 - 2,703 976
Other - - - 559
_ _ _ _
Total income 729,128 3,155 732,283 590,756
_ _ _ _
Expenditure
Raising funds - 1,093 1,093 -
Charitable activities:
Operation of theatre 7 755,730 2,062 757,792 618,501
_ _ _ _
Total expenditure 755,730 3,155 758,885 618,501
_ _ _ _
Net income/(expenditure)
before gains/losses on investments (26,602) - (26,602) (27,745)
Other recognised (losses)/gains
Gains/(losses) on investment assets 14 34 - 34 (115)
_ _ _ _
Net movement of funds (26,568) - (26,568) (27,860)
Reconciliation of funds
Total funds brought forward 601,760 - 601,760 629,620
_ _ _ _
Total funds carried forward 575,192
 -
 575,192
 601,760

There are no recognised gains and losses other than stated above.

All incoming resources and resources expended above relate to continuing operations.

10

Altrincham Garrick Society Limited (Registered number: 02899281)

Fixed assets
Tangible assets
Investments
Total fixed assets
Current assets
Stocks
Debtors
Short term deposits
Cash at bank and in hand
Total current assets
Creditors
Amounts falling due within one year
Net Current Assets
Total assets less current liabilities
Creditors
Amounts falling due after more than one year
Total net assets
The funds of the charity
Unrestricted funds:
General funds
Total funds		 Balance Sheet
For the year ended 30th June 2023
2023
2022
Notes
£
£
13
287,419
283,857
14
9,135
9,101
_
_
296,554
292,958
__
_
888
888
15
79,090
34,888
85,000
-
358,718
496,567
_
_
523,696
532,343
16
(224,225)
(192,708)
_
_
299,471
339,635
_
_
596,025
632,593
17
(20,833)
(30,833)
_
_
575,192
601,760



18
575,192
601,760
_
____
575,192
601,760

For the year ended 31[st] March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies.

The financial statements were approved by the Board of Trustees on 28[th] March 2024 and were signed on its behalf by:

………………………………………….

J D Beddy – Trustee

…………………………………………. H F Everett – Trustee

11

Altrincham Garrick Society Limited (Registered number: 02899281)

For
Cash generated by operating activities
Cash flows from investing activities
Bank interest received
Dividends received
Purchase of tangible fixed assets
Net cash provided by investing activities
Cash flows from financing activities
Loan repayments
Net cash from financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents brought forward
Cash and cash equivalents carried forward
Notes to the statement of cash flows for the year
A.
Analysis of cash and cash equivalents
Cash at bank and in hand
Short term deposits
B.
Analysis of changes in net funds
Cash at bank and in hand
Short term deposits		 For Statement of Cash Flows
the year ended 30th June 2023
2023
2022
Note
£
£
£
£
22
(21,593)
173,683
2,640
923
63
53
(23,054)
(2,423)
_
_
(20,351)
(1,447)
(10,905)
(11,052)
_
_
(10,905)
(11,052)
_
_
(52,849)
161,184
496,567
335,383
_
_
443,718
496,567
_
_
ended 30th June 2023
2023
2022
£
£
358,718
496,567
85,000
-
_
_
443,718
496,567


At 01.07.22
Cash flows
At 31.07.23
496,567
(137,849)
358,718
-
85,000
85,000
_
_
_
496,567
(52,849)
443,718

Note
£
22
2,640
63
(23,054)
_
(10,905)
_
ended 30th June 2023
At

12

Altrincham Garrick Society Limited (Registered number: 02899281)

Notes to the Financial Statements For the year ended 30th June 2023

1. Charity and company information

Altrincham Garrick Society Limited is a charity registered in England and Wales and a company limited by guarantee. The charitable company’s registered number and registered office can be found on the Report of the Trustees.

The presentation currency of the financial statements is the Pound Sterling (£).

The members of the company are the Trustees. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

2. Accounting policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Basis of preparation

The financial statements of the charitable company, which is a public benefit entity under FRS102, have been prepared in accordance with the Charities SORP (FRS102) “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 (FRS102) (effective 1[st] 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.

The financial statements contain information about Altrincham Garrick Society limited as an individual company and do not contain consolidated financial information as the parent of a group. The company has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Going concern

After making enquiries, the board has a reasonable expectation (subject to the normal levels of commercial risk in the current economic climate) that the charity has adequate resources to continue in operational existence for the foreseeable future, being a period of at least twelve months from the date on which the report and financial statements are signed. This expectation is based on forecasts prepared and the current available levels of cash and reserves of the charity. There are no material uncertainties related to events or conditions that may cast significant doubt upon the entity’s ability to continue as a going concern.

Income recognition policies

Items of income are recognised and included in the accounts when all of the following criteria are met:

Donations and legacies

All monetary donations and gifts are included in full in the statement of financial activities when receivable, provided that there are no donor-imposed restrictions as to the timing of the related expenditure, in which case recognition is deferred until pre-condition is met. Donated services and facilities are included at the value to the charity where this can be quantified. No amounts are included in the financial statements for time donated by volunteers. For legacies, entitlement is taken as the earlier of the date on which the estate is finalised or when a distribution is received from the estate.

13

Altrincham Garrick Society Limited (Registered number: 02899281)

Notes to the Financial Statements For the year ended 30th June 2023

Accounting policies (continued)

Income from charitable activities

Comprises ticket sales for performances, education, programmes, catering, costume hire and membership fees. Income received in advance of a theatrical performance is deferred until the criteria for income recognition is met.

Income from other trading activities

Income from other trading activities comprises income from rents received relating to the freehold land and property, income related to the 200 club and other lotteries and income from management charges.

Investment income

Investment income comprises dividend income and interest receivable on cash balances, and is recognised on an accrual basis.

Fund accounting

Unrestricted funds are those funds for use at the discretion of the trustees in furtherance of the general objective of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided, at their discretion, to set aside for a specific purpose.

Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Irrecoverable VAT is allocated to support costs.

Allocation of support costs and governance costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, irrecoverable VAT. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice. These costs include audit/independent examination fees.

Operating leases

Rentals paid under operating leases are charged to the income and expenditure account on a straight-line basis over the period of the lease.

Volunteers

The value of services provided by volunteers is not incorporated into the financial statements. Further details of the contributions made by the volunteers can be found in the Trustees’ Annual Report.

Critical accounting estimates and areas of judgement

In the applications of the accounting policies, trustees are required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

In the view of the trustees, no assumptions concerning the future or estimation uncertainty affecting assets or liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year.

14

Altrincham Garrick Society Limited (Registered number: 02899281)

Notes to the Financial Statements For the year ended 30th June 2023

Accounting policies (continued)

Tangible fixed assets

Individual fixed assets costing £1,000 or more are capitalised at cost and depreciated on a straight-line basis over the estimated useful lives as follows:

Freehold property - 50 years
Plant and machinery - 5 years
Computer equipment - 5 years

Investment assets

Quoted investments comprise publicly quoted listed securities. Quoted investments are stated at market value. The market value is based on the closing middle market price. Asset sales and purchases are recognised at the date of trade.

Investment in subsidiary undertakings are held at cost less any impairment.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Debtors

Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid

Cash at bank and in hand

Cash at bank and cash at hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Deposits for more than three months but less than one year have been disclosed as short term deposits. Cash placed on deposit for more than one year is disclosed as a fixed asset investment.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Pensions

The charity operates a defined contribution pension scheme. Contributions payable to the company’s pension scheme are charged against income in the year in which they are incurred.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Government Grants

Government grants are credited to the statement of financial activities when the charity has entitlement to the income and when the amount receivable has been quantified.

15

Altrincham Garrick Society Limited (Registered number: 02899281)

Notes to the Financial Statements

For the year ended 30th June 2023

3. Donations and legacies

Donations
Legacies
Grants
 2023
£
27,644
-
-
_

27,644
 2022
£
6,468
1,000
8,637
_
16,105

Included in Grants received in 2022 are government grants related to Coronavirus Job Retention Scheme of £1,637.

4. Income from charitable activities

Admission charges
Visiting shows
Programmes, kiosk & catering
Drama academy
Membership
Merchandise
Sales and hire of costumes and props
Choir group and play reading
5.
Other trading activities
Rents received
200 Club and other lotteries
Management charges
6.
Investment income
Deposit account interest
Dividends		 2023
2022
£
£
428,793
380,258
53,081
18,409
52,335
45,623
78,404
59,983
7,484
8,985
4,139
1,150
6,532
6,527
15,101
16,781
_
_
645,869
537,716

2023
2022
£
£
34,157
33,048
3,155
2,352
18,755
-
_
_
56,067
35,400

2023
2022
£
£
2,640
923
63
53
_
_
2,703
976

16

Altrincham Garrick Society Limited (Registered number: 02899281)

Notes to the Financial Statements For the year ended 30th June 2023

7. Charitable activity costs

7. Charitable activity costs
2023 2022
£ £
Production costs 187,608 153,928
Advertising, marketing and PR 54,368 31,500
Depreciation 11,450 13,117
Staff costs 217,807 206,598
Computer costs 31,059 22,722
Premises costs 148,757 96,723
Sundry expenses 2,426 1,788
Governance costs (note 8) 5,338 5,790
Support costs (note 8) 93,369 86,335
Bad debts written off 5,610 -
_ _
757,792
 618,501
8. Governance and support costs
Support Governance Total Total
costs costs 2023 2022
£ £ £ £
Depreciation 8,042 - 8,042 7,944
Office costs 21,163 - 21,163 17,388
Staff costs 19,371 - 19,371 14,524
Finance costs 14,345 - 14,345 11,325
Irrecoverable VAT 23,294 - 23,294 26,517
Auditors’ remuneration - - - 5,790
Auditors’ remuneration – non audit services - - - 6,693
Independent Examiner’s fees - 4,188 4,188 -
Independent Examiner’s fees – non review services 2,015 1,150 3,165 -
Consultancy and professional fees 5,139 - 5,139 1,944
_ _ _ _
93,369
 5,338
 98,707
 92,125
9. Net (expenditure) for the year
2023 2022
£ £
This is stated after charging:
Operating leases: equipment 1,780 1,780
Depreciation 19,492 21,061
Auditors’ remuneration:
- Audit fees - 5,790
- Non-audit services - 6,693
Independent Examiner’s remuneration:
- Independent Examination 4,188 -
- Non-review services 3,165 -

17

Altrincham Garrick Society Limited (Registered number: 02899281)

Notes to the Financial Statements For the year ended 30th June 2023

10. Trustees’ remuneration and benefits

Trustees’ Remuneration

There was no trustees’ remuneration for the year ended 30[th] June 2023, nor for the year ended 30[th] June 2022.

Trustees’ Expenses

There were no trustees’ expenses paid for the year ended 30[th] June 2023, nor for the year ended 30[th] June 2022.

11.

Staff costs 2023 2022
£ £
Wages and salaries 228,733 212,441
Social security costs 5,821 5,729
Pension costs 2,624 2,952
_ _
237,178 221,122

There were no employees earning taxable annual emoluments of £60,000 or more in the year.

The average number of employees was as follows:

2023 2022
Teaching and production 36 21
Administration 2 2
______ ______
38 23

The key management personnel of the charity in charge of directing, controlling and running and operating the charity on a day to day basis comprise the trustees, theatre manager and volunteers. The total amount of employee benefits (including employer’s pension contributions) received by key management personnel for the services to the charity was £71,946 (2022: £68,786).

18

Altrincham Garrick Society Limited (Registered number: 02899281)

Notes to the Financial Statements For the year ended 30th June 2023

12. Comparatives for the statement of financial activities

Unrestricted Funds Unrestricted Funds Total
General Designated Funds
2022
£ £ £
Income from:
Donations and legacies 16,105 - 16,105
Charitable activities:
Operation of theatre 537,716 - 537,716
Other trading income 33,048 2,352 35,400
Investment income 976 - 976
Other 559 - 559
_ _ _
Total income 588,404 2,352 590,756
_ _ _
Expenditure
Expenditure on charitable activities:
Operation of theatre 616,149 2,352 618,501
_ _ _
Total expenditure 616,149 2,352 618,501
_ _ _
Net income/(expenditure)
before gains/losses on investments (27,745) - (27,745)
Other recognised (losses)/gains
Gains/(losses) on investment assets (115) -
(115)
_ _ _
Net movement of funds (27,860) - (27,860)
Reconciliation of funds
Total funds brought forward 629,620 - 629,620
_ _ _
Total funds carried forward 601,760
 -
 601,760

19

Altrincham Garrick Society Limited (Registered number: 02899281)

Notes to the Financial Statements For the year ended 30th June 2023

13.Tangible fixed assets
Freehold Plant and
Computer
Property
Machinery Equipment

£
£
£
Cost:
At 1stJuly 2022
397,182
399,139
20,322
Additions
7,329
15,725
-
Disposals
-
-
(480)
_
_
_
At 30thJune 2023
404,511
414,864
19,842
_
_
_
Depreciation:
At 1stJuly 2022
128,728
383,736
20,322
Charge for year
8,042
11,450
-
Disposals
-
-
(480)
_
_
_
At 30thJune 2023
136,770
395,186
19,842
_
_
_
Net book value:
At 30thJune 2023
267,741
19,678
-
_
_
_
At 30thJune 2022
268,454
15,403
-
_
_
_		 Total
£
816,643
23,054
(480)
_
839,217
_
532,786
19,492
(480)
_
551,798
_
287,419
_
283,857
_

Capital commitments

At the balance sheet date, the charitable company had contracted capital commitments amounting to £39,363 (2022: £nil).

20

Altrincham Garrick Society Limited (Registered number: 02899281)

Notes to the Financial Statements For the year ended 30th June 2023

14. Fixed asset investments

Quoted
investments Unquoted* Total
£ £ £
Market value
At 1stJuly 2022 1,111 7,990 9,101
Unrealised gains 34 - 34
_ _ _
At 30thJune 2023 1,145 7,990 9,135

The historical cost of the quoted investments at 30[th] June 2023 were £11,532 (2022: £11,532).

*The company’s unquoted investment at the balance sheet date was in the ordinary share capital of Altrincham Garrick Playhouse Limited, as follows:

Altrincham Garrick Playhouse Limited

Country of Incorporation: England Nature of business: Support facilities Class of shares: Ordinary Holding: 100%

2023 2022
£ £
Aggregate capital and reserves 37,555 38,047
Gross income 29,343 61,776
Expenditure 30,655 27,527
(Loss)/profit for the year (1,312) 34,249

15. Debtors:

2023 2022
£ £
Trade debtors 5,779 5,610
Prepayments and accrued income 70,907 29,278
Amounts owed by group undertakings 2,404 -
_ _
79,090 34,888

Included in prepayments is £38,272 (2022: £26,768) in relation to costs for future productions.

21

Altrincham Garrick Society Limited (Registered number: 02899281)

Notes to the Financial Statements For the year ended 30th June 2023

16. Creditors: Amounts falling due within one year

2023 2022
£ £
Trade creditors 30,876 38,664
Taxation and social security 2,422 2,450
Other creditors - 12,929
Accruals and deferred income 170,584 113,582
Bank loans 10,000 10,000
VAT 10,343 6,241
Amounts owed to group undertakings - 8,842
_ _
224,225 192,708

Income is deferred when payment for a service, such as tickets to a performance, has been received in advance of the performance. If at the year end, the performance has not happened, the income is carried forward and released when the performance occurs.

£
Brought forward 83,190
Released in the year (83,190)
Deferred in the year 150,699
______
Carried forward 150,699
______

17. Creditors: Amounts falling due after one year

2023 2022
£ £
Bank loan (unsecured) 20,833 30,833
_ _
20,833 30,833

18. Reserves

At At
1st July Gains/ 30th June
2022 Income Expenditure (Losses) 2023
£ £ £ £ £
Designated - 3,155 (3,155) - -
General 601,760 729,128 (755,730) 34 575,192
_ _ _ _ _
601,760 732,283 (758,885) 34 575,192

The designated fund is for the charity to develop and improve the fabric of the theatre building.

22

Altrincham Garrick Society Limited (Registered number: 02899281)

Notes to the Financial Statements For the year ended 30th June 2023

19. Leasing agreements

Minimum lease payments fall due as follows:

Expiring:
Within one year
Within two to five years		 Non cancellable
operating leases
2023
2022
£
£
1,780
1,780
-
1,780
__
_
1,780
3,560

___

20. Pensions

The charity operates a defined contribution pension scheme for the benefit of its employees. The assets of the scheme are held in independently administered funds. The contributions paid by the charity during the year were £3,122 (2022: £2,952). The amount outstanding at the year end was £nil (2022: £1,374).

21. Related party disclosures

The charitable company is controlled by the trustees.

The charity controls Altrincham Garrick Playhouse Limited by virtue of holding all voting rights and 100% of the company’s ordinary shares. During the year, the charity received management charges and recharges from Altrincham Garrick Playhouse Ltd of £22,353 (2022: £nil). At the balance sheet date, the charity was owed £2,404 from Altrincham Garrick Playhouse Ltd (2022: £8,842 owed by the charity to Altrincham Garrick Playhouse Ltd).

Details of Key Management Employee benefits are given in note 11.

During the year, the charitable company purchased goods and services from FMS Interior Services Ltd amounting to £9,291 (2022: £972). FMS Interior Services Ltd is controlled by trustee Mr James David Beddy. At the balance sheet date, £276 (2022: £nil) was owed from the charitable company to FMS Interior Services Ltd.

22. Reconciliation of net movements in funds to net cash flow from operating activities .

2023 2022
£ £
Net movement in funds (26,568) (27,860)
Depreciation charges 19,492 21,061
Loan interest paid 905 1,052
Investment income (2,703) (976)
(Gains)/losses on investments (34) 115
Reclassified investments - 75,000
Decrease in stocks - 462
(Increase)/decrease in debtors (44,202) 8,166
Increase in creditors 31,517 96,663
_ _
Net cash generated by operating activities (21,593) 173,683

23