REGISTERED COMPANY NUMBER: 02899281 (England and Wales) REGISTERED CHARITY NUMBER: 1034690
Report of the Trustees and Unaudited Financial Statements for the Year Ended 30 June 2024
for
Altrincham Garrick Society Limited
Warr & Co Limited Chartered Accountants Mynshull House 78 Churchgate Stockport Cheshire SK1 1YJ
Altrincham Garrick Society Limited
Contents of the Financial Statements for the Year Ended 30 June 2024
| Page | |
|---|---|
| Reference and administrative details | 1 |
| Chairman's report | 2 |
| Report of the trustees | 3 to 7 |
| Independent examiner's report | 8 to 9 |
| Statement of financial activities | 10 |
| Balance sheet | 11 to 12 |
| Cash flow statement | 13 |
| Notes to the cash flow statement | 14 |
| Notes to the financial statements | 15 to 25 |
Altrincham Garrick Society Limited
Reference and Administrative Details
for the Year Ended 30 June 2024
Trustees J D Beddy (resigned 30.11.24) H F Everett D P Mazurkiewicz Citrine T B Mckie C J Tomlinson Ms A K Walker N J C Sample (appointed 4.2.25) Company secretary C J Tomlinson Registered office The Garrick Playhouse Barrington Road Altrincham Cheshire WA14 1HZ Registered company number 02899281 (England and Wales) Registered charity number 1034690 Independent examiner Warr & Co Limited Chartered Accountants Mynshull House 78 Churchgate Stockport Cheshire SK1 1YJ Solicitors Myerson Solicitors Grosvenor House 20 Barrington Road Altrincham Cheshire WA14 1HB
Page 1
Altrincham Garrick Society Limited
Chairman's Report
for the Year Ended 30 June 2024
The Society is reporting a deficit of approximately £52K for the season 2023/2024. The deficit in the previous season (the first season not affected by Covid-19 restrictions) was approx. £27K.
Our audience sizes for the 2023/2024 season exceeded both the previous season and the last "normal" season before Covid-19. This in turn resulted in higher income; this season saw a 12% increase in income over the previous season. Our gross surplus (before allowing for theatre overheads) was 58% of our income.
However, increases in production costs, and in theatre overhead costs this season (15% in wages, for example, as well as a similar rise in advertising to achieve larger ticket sales) resulted in the deficit this season. In addition, we do not receive any regular grants (from, for example, our local Borough Council or from any Arts Organisations).
We achieved our charity's aims in 2023/2024, 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 received by the overwhelmingly positive reviews given to the theatre and our productions via various review mechanisms - for example our Google Business review average for this season was 4.5 out of 5.
We are 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. We introduced "Relaxed Performances" to cater for those who find normal theatre overwhelming and are expanding that initiative this season. We continue to invite charities to collect money for themselves at our performances - during the 2023/2024 season this included Together Dementia Support and Breast Cancer Awareness - and we explicitly raised money for the local "Paint Altrincham Pink" campaign. We ran tours of our theatre for local schools and children's groups (eg Altrincham District Scouts).
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 many 10s of 1000s of pounds during each season to sustaining the theatre itself as a viable centre for the community.
We do have major concerns about balancing the various expenses of the theatre (spending enough to ensure that we maintain the exceptionally high production values our audiences expect, investing in the structure of the building, continuing to employ local staff in various areas, paying the enormous utility bills and other ongoing expenses) against our ability to make money without increasing ticket prices too much. We are considering major strategic changes aimed at improving our overall revenue income whilst maintaining robust financial controls.
Hugh Everett Chair of the Board of Trustees
Page 2
Altrincham Garrick Society Limited (Registered number: 02899281)
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 Mission of the charity (what we do now) is:
To entertain, inspire and educate our communities with high quality creative arts experiences that enrich their lives .
The Vision of the charity (where we are headed) is:
To be a leading multi arts venue in Cheshire and Manchester.
The Values of the charity (which underpin everything we are and everything we do) are: Excellence - Integrity - Respect - Diversity - Inclusivity.
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:
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present a broad range of Theatre productions for the enjoyment and education of our local community.
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offer opportunities for a broad range of people to get involved in arts activity exploring their own creative powers.
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provide facilities for amateur and professional artists to develop. Groups in the borough are given discounted rates for hire of space and access to professional advice.
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concentrate on involving young people in the arts to help encourage a culture in which different age ranges play a complementary part.
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celebrate the diversity of cultures in our society by programming presentations by, and with, artists of different cultural backgrounds.
Our major activities that put these strategies into action are:
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Live stage performances of all types of drama and musicals; produced in-house.
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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.
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Cinematic and theatrical Screenings; using live-feeds and DVD/MP4-based material.
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Educational programmes, including drama schools covering ages 5 to 18.
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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).
Page 3
Altrincham Garrick Society Limited (Registered number: 02899281)
Report of the Trustees for the Year Ended 30 June 2024
Objectives and activities
Significant activities
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.
Our productions for audiences this year (1 July 2023 to 30 June 2024) included:
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13 Garrick Mainstage Productions, totalling 33,804 tickets sold (71% of capacity)
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7 Garrick Studio Productions, totalling 1,320 tickets sold (also (!) 71% of capacity)
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14 Picturehouse (non-Garrick) events, totalling 945 tickets sold (26% of capacity)
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35 Visiting Productions (non-Garrick), totalling 12,043 tickets sold (73% of capacity)
Educational Activities included:
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Garrick Academy of Performing Arts (GAPA) provided education for 150 children aged 5 to 18 throughout the three school terms
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LAMDA courses for adults
Our programme also features use of theatre space for the following:
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100 adults in the Altrincham Garrick Show Choir, weekly
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Garrick Play Reading for between 20 and 40 people, monthly
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Slimming World, weekly
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Women in Business and M&S Retirees, monthly
Other activities included:
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A major attraction supporting the Altrincham Festival, when we featured the car used in Chitty Chitty Bang Bang
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Invited charities to raise money for themselves, on the back of productions related to their causes
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Theatre tours to raise money for local Altrincham campaigns to raise awareness of cancer
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Free theatre tours for local groups (schools, scout groups)
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.
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.
Volunteers
It is very difficult to provide an accurate figure for the number of volunteers, because we don't monitor this at an individual level.
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Approximately 100 volunteers work onstage, backstage and in technical areas to support the productions each season.
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Approximately 30 to 40 volunteers work front of house directly with audiences each season.
Page 4
Altrincham Garrick Society Limited (Registered number: 02899281)
Report of the Trustees
for the Year Ended 30 June 2024
Strategic report Financial position
The charitable company is reporting a deficit of £51,903 for the financial year (2023: deficit of £26,568).
The principal source of income in the year was from admissions charges which totalled £508,554 (2023: £428,793). We also received income from kiosk, programme and catering sales of £69,218 (2023: £52,335) and from our drama academy of £96,848 (2023: £78,404).
Our expenditure for the year totalled £876,770 (2023: £758,884), with direct production expenses costing £258,557 (2023: £187,608). Staff costs rose by £34,768 (14.7%) compared to the previous year to £271,945 (2023 £37,177), with premises costs reducing by 20% to £118,919 (2023: £148,757).
The selection of our Productions, Screenings and Visiting Productions for 2023/2024 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.
Pricing policy
Our ticket prices for Mainstage Productions provided the following main price categories:
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Standard Adult price (full price)
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Friend of the Garrick (subject to an annual subscription)
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Concession (subject to a minimum age)
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Child (subject to a maximum age)
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Complimentary (subject to occupation and other factors)
Other price categories were occasionally introduced, for special events.
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.
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 30th June 2024 amounted to £179,856 (compared to 30th June 2023: £299,471), this falls below the level determined and the trustees are acutely aware of the need to improve profitability. The trustees are looking closely at ways of reducing its operating costs and improving its income with a view to improving overall profitability.
Going concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for a period of 12 months from the date of approval of these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
Page 5
Altrincham Garrick Society Limited (Registered number: 02899281)
Report of the Trustees for the Year Ended 30 June 2024
Strategic report Future plans
Our medium-term future plans (ie for the next 2 seasons, until 30 June 2027) include more of the same, to achieve the charity's aims:
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Continuing to produce high-quality productions for local audiences, involving as many of the local community as possible
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Continuing to host visiting professional productions and show cinematic screenings, to widen the choice of entertainment for local audiences
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Continuing to support theatre education, by providing both youth (GAPA) and adult (LAMDA) courses
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Continuing to support the local community, as exemplified in "Review of events in the year" above
Our medium- and more long-term plans are focussed on continuing to achieve the charities' aims whilst ensuring that we can also afford to maintain our financial viability in a world of changing expenses, changing overheads and changing audience preferences. This may mean a change to our schedule of productions (for example more variation from our standard '7 instances of each individual production', for example varying the selection of professional productions that we host); it may mean a change to our ticket price structure; it may mean a reorganisation of our theatre management and control.
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.
Organisational structure
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
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.
Page 6
Altrincham Garrick Society Limited (Registered number: 02899281)
Report of the Trustees for the Year Ended 30 June 2024
Report of the trustees, incorporating a Strategic report, approved by order of the board of trustees, as the company directors, on 18 April 2025 and signed on the board's behalf by:
H F Everett - Trustee
Page 7
Independent Examiner's Report to the Trustees of Altrincham Garrick Society Limited
Independent examiner's report to the trustees of Altrincham Garrick Society Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2024.
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.
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Independent Examiner's Report to the Trustees of Altrincham Garrick Society Limited
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, 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:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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.
Nicola Joyce
Nicola Jayne Joyce ACA The Institute of Chartered Accountants in England and Wales
Warr & Co Limited Chartered Accountants Mynshull House 78 Churchgate Stockport Cheshire SK1 1YJ 7 May 2025
Page 9
Altrincham Garrick Society Limited
Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 30 June 2024
| 30.6.24 Unrestricted funds Notes £ Income and endowments from Donations and legacies 2 8,471 Charitable activities 5 Operation of theatre 769,996 Other trading activities 3 38,489 Investment income 4 7,618 Total 824,574 Expenditure on Raising funds 6 920 Charitable activities 7 Operation of theatre 875,850 Total 876,770 Net gains on investments 293 NET INCOME/(EXPENDITURE) (51,903) Reconciliation of funds Total funds brought forward 575,192 Total funds carried forward 523,289 |
30.6.23 Total funds £ 27,644 645,869 56,067 2,702 732,282 1,093 757,791 758,884 34 (26,568) 601,760 575,192 |
|---|---|
The notes form part of these financial statements
Page 10
Altrincham Garrick Society Limited (Registered number: 02899281)
Balance Sheet 30 June 2024
| 30.6.24 Unrestricted funds Notes £ Fixed assets Tangible assets 12 344,838 Investments 13 9,428 354,266 Current assets Stocks 14 1,477 Debtors 15 77,327 Cash at bank and in hand 361,513 440,317 Creditors Amounts falling due within one year 16 (260,461) Net current assets 179,856 Total assets less current liabilities 534,122 Creditors Amounts falling due after more than one year 17 (10,833) NET ASSETS 523,289 Funds 20 Unrestricted funds 523,289 Total funds 523,289 |
30.6.23 Total funds £ 287,419 9,135 296,554 888 79,090 443,718 523,696 (224,225) 299,471 596,025 (20,833) 575,192 575,192 575,192 |
|---|---|
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 notes form part of these financial statements
continued...
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Altrincham Garrick Society Limited (Registered number: 02899281)
Balance Sheet - continued 30 June 2024
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(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.
The financial statements were approved by the Board of Trustees and authorised for issue on 18 April 2025 and were signed on its behalf by:
H F Everett - Trustee
The notes form part of these financial statements
Page 12
Altrincham Garrick Society Limited
| Cash Flow Statement for the Year Ended 30 June 2024 30.6.24 Notes £ Cash flows from operating activities Cash generated from operations 1 6,597 Interest paid (15,322) Net cash used in operating activities (8,725) Cash flows from investing activities Purchase of tangible fixed assets (86,171) Interest received 7,545 Dividends received 73 Net cash used in investing activities (78,553) Cash flows from financing activities Loan repayments in year (10,000) Inter company loans 15,073 Net cash provided by/(used in) financing activities 5,073 Change in cash and cash equivalents in the reporting period (82,205) Cash and cash equivalents at the beginning of the reporting period 443,718 Cash and cash equivalents at the end of the reporting period 361,513 |
30.6.23 £ 3,094 (14,345) (11,251) (23,054) 2,639 63 (20,352) (10,000) (11,246) (21,246) (52,849) 496,567 443,718 |
|---|---|
The notes form part of these financial statements
Page 13
Altrincham Garrick Society Limited
Notes to the Cash Flow Statement for the Year Ended 30 June 2024
| 1. | Reconciliation of net expenditure to net cash | flow from operating activities | flow from operating activities | |
|---|---|---|---|---|
| 30.6.24 | 30.6.23 | |||
| £ | £ | |||
| Net expenditure for the reporting period (as | per the Statement | |||
| of financial activities) | (51,903) | (26,568) | ||
| Adjustments for: | ||||
| Depreciation charges | 28,752 | 19,492 | ||
| Gain on investments | (293) | (34) | ||
| Interest received | (7,545) | (2,639) | ||
| Interest paid | 15,322 | 14,345 | ||
| Dividends received | (73) | (63) | ||
| Increase in stocks | (589) | - | ||
| Increase in debtors | (641) | (41,798) | ||
| Increase in creditors | 23,567 | 40,359 | ||
| Net cash provided by operations | **6,597 ** | 3,094 | ||
| 2. | Analysis of changes in net funds | |||
| At 1.7.23 | Cash flow | At 30.6.24 | ||
| £ | £ | £ | ||
| Net cash | ||||
| Cash at bank and in hand | 443,718 | (82,205) | 361,513 | |
| 443,718 | (82,205) | 361,513 | ||
| Debt | ||||
| Debts falling due within 1 year | (10,000) | - | (10,000) | |
| Debts falling due after 1 year | (20,833) | 10,000 | (10,833) | |
| (30,833) | 10,000 | (20,833) | ||
| Total | 412,885 | (72,205) | 340,680 |
The notes form part of these financial statements
Page 14
Altrincham Garrick Society Limited
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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Preparation of consolidated financial statements
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 charity is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.
Critical accounting judgements and key sources of estimation uncertainty
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.
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.
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.
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
Page 15
continued...
Altrincham Garrick Society Limited
Notes to the Financial Statements - continued for the Year Ended 30 June 2024
1. Accounting policies - continued
Income
Investment income comprises dividend income and interest receivable on cash balances and is recognised on an accruals basis.
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.
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.
Expenditure on charitable activities includes the costs of performances and the other educational activities undertaken to further the purpose of the charity and their associated support costs.
Other expenditure represents those items not falling into any other heading.
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.
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 - 2% on cost Plant and machinery - 20% on cost Computer equipment - 20% on cost
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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.
Page 16
continued...
Altrincham Garrick Society Limited
Notes to the Financial Statements - continued for the Year Ended 30 June 2024
1. Accounting policies - continued
Fund accounting
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Fixed asset investments
Quoted investments
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 subsidiaries
Investment in subsidiary undertakings are held at cost less any impairment.
Going concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for a period of 12 months from the date of approval of these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
2. Donations and legacies
| Donations 3. Other trading activities Fundraising events Management charges Rent received Sundry income |
30.6.24 £ 8,471 30.6.24 £ 1,360 - 37,054 75 38,489 |
30.6.23 £ 27,644 30.6.23 £ 3,155 18,755 34,157 - 56,067 |
|---|---|---|
continued...
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Altrincham Garrick Society Limited
Notes to the Financial Statements - continued
for the Year Ended 30 June 2024
4. Investment income
| Other fixed asset invest - FII Deposit account interest 5. Income from charitable activities Activity Admission charges Operation of theatre Visiting shows Operation of theatre Drama academy Operation of theatre Choir group and play reading Operation of theatre Programmes, kiosk and catering Operation of theatre Merchandise Operation of theatre Sale and hire of costumes Operation of theatre Membership Operation of theatre 6. Raising funds Raising donations and legacies Fundraising costs |
30.6.24 £ 73 7,545 7,618 30.6.24 £ 508,554 66,073 96,848 15,766 69,218 4,399 1,917 7,221 769,996 30.6.24 £ 920 |
30.6.23 £ 63 2,639 2,702 30.6.23 £ 428,793 53,081 78,404 15,101 52,335 4,139 6,532 7,484 645,869 30.6.23 £ 1,093 |
|---|---|---|
Fundraising costs
continued...
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Altrincham Garrick Society Limited
Notes to the Financial Statements - continued for the Year Ended 30 June 2024
7. Charitable activities costs
| Support Direct costs (see Costs note 8) £ £ Operation of theatre 758,555 117,295 8. Support costs Governance Management costs £ £ Operation of theatre 113,131 **4,164 ** |
Totals £ 875,850 |
|---|---|
| Totals £ **117,295 ** |
9. Net income/(expenditure)
Net income/(expenditure) is stated after charging/(crediting):
| Independent examination fee Independent examination - non- review services Depreciation - owned assets |
30.6.24 £ 2,364 1,800 28,752 |
30.6.23 £ 4,188 1,150 19,492 |
|---|---|---|
10. 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.
11. Staff costs
| Wages and salaries Social security costs Other pension costs |
30.6.24 £ 260,413 8,082 3,450 271,945 |
30.6.23 £ 228,732 5,821 2,624 |
|---|---|---|
| 237,177 |
continued...
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Altrincham Garrick Society Limited
Notes to the Financial Statements - continued for the Year Ended 30 June 2024
11. Staff costs - continued
The average monthly number of employees during the year was as follows:
| Teaching and production Administration |
30.6.24 28 2 30 |
30.6.23 36 2 38 |
|---|---|---|
There were no employees earning taxable emoluments of £60,000 or more in the year.
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 £72,715 (2023: £71,946).
12. Tangible fixed assets
| Tangible fixed assets | ||||
|---|---|---|---|---|
| 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 |
Freehold property £ 404,511 - 404,511 136,770 8,091 144,861 259,650 267,741 |
Plant and machinery £ 414,865 69,621 484,486 395,187 18,572 413,759 70,727 19,678 |
Computer equipment £ 19,842 16,550 36,392 19,842 2,089 21,931 14,461 - |
Totals £ 839,218 86,171 |
| 925,389 | ||||
| 551,799 28,752 |
||||
| 580,551 | ||||
| 344,838 | ||||
| 287,419 |
continued...
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Altrincham Garrick Society Limited
Notes to the Financial Statements - continued
for the Year Ended 30 June 2024
13. Fixed asset investments
| Shares in group Listed undertakings investments £ £ Market value At 1 July 2023 7,990 1,145 Revaluations - 293 At 30 June 2024 7,990 1,438 Net book value At 30 June 2024 7,990 1,438 At 30 June 2023 7,990 1,145 There were no investment assets outside the UK. 14. Stocks 30.6.24 £ Stocks 1,477 15. Debtors: amounts falling due within one year 30.6.24 £ Trade debtors 16,365 Amounts owed by group undertakings - Prepayments and accrued income 60,962 77,327 |
Totals £ 9,135 293 9,428 9,428 9,135 30.6.23 £ 888 30.6.23 £ 5,779 2,404 70,907 79,090 |
|---|---|
continued...
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Altrincham Garrick Society Limited
| Notes to the Financial Statements- continued for the Year Ended 30 June 2024 16. Creditors: amounts falling due within one year 30.6.24 £ Bank loans and overdrafts (see note 18) 10,000 Trade creditors 25,495 Amounts owed to group undertakings 12,669 Social security and other taxes 15,379 Other creditors 4,699 Accruals and deferred income 192,219 260,461 17. Creditors: amounts falling due after more than one year 30.6.24 £ Bank loans (see note 18) 10,833 18. Loans An analysis of the maturity of loans is given below: 30.6.24 £ Amounts falling due within one year on demand: Bank loans 10,000 Amounts falling between one and two years: Bank loans - 1-2 years 10,000 Amounts falling due between two and five years: Bank loans - 2-5 years 833 19. Leasing agreements Minimum lease payments under non-cancellable operating leases fall due as follows: 30.6.24 £ Within one year 1,780 Between one and five years 4,883 6,663 |
30.6.23 £ 10,000 30,876 - 12,764 - 170,585 224,225 30.6.23 £ 20,833 30.6.23 £ 10,000 10,000 10,833 30.6.23 £ 1,780 - 1,780 |
|---|---|
continued...
Page 22
Altrincham Garrick Society Limited
Notes to the Financial Statements - continued
for the Year Ended 30 June 2024
20. Movement in funds
| At 1.7.23 £ Unrestricted funds General fund 575,192 TOTAL FUNDS 575,192 Net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 823,214 (875,410) Designated 1,360 (1,360) 824,574 (876,770) TOTAL FUNDS 824,574 (876,770) Comparatives for movement in funds At 1.7.22 £ Unrestricted funds General fund 601,760 TOTAL FUNDS 601,760 |
Net movement At in funds 30.6.24 £ £ (51,903) 523,289 (51,903) 523,289 Gains and Movement losses in funds £ £ 293 (51,903) - - 293 (51,903) 293 (51,903) Net movement At in funds 30.6.23 £ £ (26,568) 575,192 (26,568) 575,192 |
|---|---|
continued...
Page 23
Altrincham Garrick Society Limited
Notes to the Financial Statements - continued for the Year Ended 30 June 2024
20. Movement in funds - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Designated TOTAL FUNDS |
Incoming resources £ 729,126 3,156 732,282 732,282 |
Resources expended £ (755,728) (3,156) (758,884) (758,884) |
Gains and Movement losses in funds £ £ 34 (26,568) - - 34 (26,568) 34 (26,568) |
|---|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.7.22 £ 601,760 601,760 |
Net movement in funds £ (78,471) (78,471) |
At 30.6.24 £ 523,289 523,289 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming Resources resources expended £ £ Unrestricted funds General fund 1,552,340 (1,631,138) Designated 4,516 (4,516) 1,556,856 (1,635,654) TOTAL FUNDS 1,556,856 (1,635,654) |
Gains and Movement losses in funds £ £ 327 (78,471) - - 327 (78,471) 327 (78,471) |
|---|---|
continued...
Page 24
Altrincham Garrick Society Limited
Notes to the Financial Statements - continued for the Year Ended 30 June 2024
21. Capital commitments
| Contracted but not provided for in the financial statements | 30.6.24 £ - |
30.6.23 £ 39,363 |
|---|---|---|
22. Related party disclosures
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 Limited of £16,463 (2023 £22,353). At the balance sheet date, the charity owed £12,669 to Altrincham Garrick Playhouse Limited (2023 £2,404 owed to the charity by Altrincham Garrick Playhouse Limited).
During the year, the charity purchased goods and services from FMS Interior Services Ltd amounting to £300 (2023 £9,291), FMS Interior Services Ltd is controlled by trustee James Beddy. At the balance sheet date the balance owed by the company amounted to £nil (2023 £276).
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