OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2024-03-31-accounts

Registered number: 02408067 Charity number: 1042968

Theatre Porto Ltd INDEPENDENTLY EXAMINED ACCOUNTS FOR THE YEAR ENDED 31/03/2024

Prepared By:

Harvey Guinan LLP Chartered Certified Accountants Unit 17 Mersey House Matchworks Estate, 140 Speke Road Liverpool Merseyside L19 2PH

Theatre Porto Ltd

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31/03/2024

TRUSTEES

Louise Hesketh (resigned 03/07/2023) Charlotte Rachwal (resigned 20/11/2023) Michael Bonsall - Redston Debbie Tomkinson Emma-Louise Parry-Jones Keith Jones Gemma Johnson (resigned 20/11/2023) Janet Dunn Christine Lydon (appointed 20/11/2023) Jennifer Walker (appointed 23/05/2024) Charlotte Bholer (appointed 15/05/2023, resigned 21/01/2024) Mathew Jayne (appointed 15/05/2023) Clive Marshall (appointed 15/05/2023) Karen O'Neill (appointed 15/05/2023)

REGISTERED OFFICE

Theatre Porto Stanney Lane Ellesmere Port Cheshire CH65 6QY

COMPANY NUMBER 02408067

CHARITY NUMBER 1042968

BANKERS

Bank of Scotland

INDEPENDENT EXAMINER Julie Guinan FCCA

Harvey Guinan LLP Chartered Certified Accountants Unit 17 Mersey House Matchworks Estate, 140 Speke Road Liverpool Merseyside L19 2PH

page 1

Theatre Porto Ltd

ACCOUNTS FOR THE YEAR ENDED 31/03/2024

CONTENTS

Page
Trustees' Report 3
Independent Examiners Statement 11
Statement Of Financial Activities 12
Balance Sheet 13
Notes To The Accounts 14
sofa Incoming Resources 24
sofa Resources Expended 26

page 2

Theatre Porto Ltd

FOR THE YEAR ENDED 31/03/2024

TRUSTEES' REPORT

The trustees present their report and accounts for the year ended 31/03/2024

The Trustees intend that this Annual Report also serves as the Statutory Directors' Report. The Directors of the Charitable company (the charity) are its trustees for the purposes of charity law and throughout the report are collectively referred to as the trustees.

Reference and administrative details are provided in the company information section of these accounts at page 1. The financial statements comply with current statutory requirements, the memorandum and articles of association, the Charities Act 2011, the Companies Act 2006 and the 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) (issued January 2022).

ARTISTIC DIRECTOR AND TRUSTEES REPORT

Organisation Overview & Mission

Theatre Porto, based in Ellesmere Port, specialises in creating theatre for children and young people (CYP) while leading socially engaged programmes for CYP and disabled adults. Our mission is to produce imaginative, socially relevant work that challenges and delights, with our recently newly established, purpose-built theatre being the only specialist venue for CYP in Cheshire and Merseyside.

Our approach is child-centred, inclusive, collaborative, and experimental. We prioritise diversity, confronting inequalities related to social class, gender, sexuality, disability, and cultural background.

Theatre Porto has a proven track record of delivering high-quality programmes with modest investment from Arts Council England (ACE). Notably, in 2021, we initiated delivered and completed a £2.5M refurbishment of our existing building to create a brand new theatre space cultural centre together with facilities to allow us to provide more support and opportunities for the communities we work with. This work was supported by ACE and Cheshire West & Chester Council, enhancing our service capacity. Despite our small size, we have increased our annual turnover to approximately £500k through successful fundraising and diversified income streams.

Vision & Strategic Goals

Our vision is to be a nationally recognised specialist centre for CYP, transforming Ellesmere Port into a town rich in accessible, creative experiences. We aim to pioneer world-class theatre, blend the playful with the political, and inspire communities both locally and nationally. Our strategic goals in 2023/2024 included artistic innovation, social impact, support for underrepresented creatives, environmental responsibility, and financial sustainability.

Challenges in 2023/2024 included maintaining organisational capacity, financial stability, and responding to national economic instability. However, our dedicated leadership, inclusive practices, and strong governance framework position us to overcome these obstacles.

page 3

Theatre Porto Ltd

FOR THE YEAR ENDED 31/03/2024

TRUSTEES' REPORT

Artistic Vision

To be a theatre of artistic enquiry, experimentation, and collaboration, for artists, children, young people, practitioners, educators, and creative thinkers.

Transformation and Social Impact

In 2023/2024 we utilised our cultural building and our artists to assist with the transformation of the town and impact the lives of CYP—using creativity to realise potential.

Establishment as a Nationally Recognised Specialist Centre

In 2023/2024 we continued to develop our venue as a specialist inclusive centre for children and young people, with the aim of strengthening our position as a cultural resource of local, regional, and national significance.

Leadership in Inclusive Practice

In 2023/2024 we strengthened our practice and our reputation as a leader in inclusive practice, with a focus on childhood as the starting point for inclusivity.

Supporting Underrepresented Creatives

In 2023/2024 we provided a platform for underrepresented creatives and artists, prioritising diversity and inclusivity within the sector.

Activities

During the year 2023/2024, Theatre Porto engaged in a wide range of activities that highlighted its commitment to artistic excellence, inclusivity, and community engagement. Key highlights include

page 4

Theatre Porto Ltd

FOR THE YEAR ENDED 31/03/2024

TRUSTEES' REPORT

Impact

Theatre Porto's impact over the past year has been substantial, both locally and nationally. The organisation engaged over 5,300 children and young people in specialist activities, provided warm spaces and free food to 550 individuals, and reached over 60,000 visitors through its diverse offerings. The venue has become a cornerstone of the community, contributing to neighbourhood pride and offering a supportive environment for families, especially those dealing with SEND and other challenges. Theatre Porto has been instrumental in tackling social isolation, poverty, and mental health issues through creative initiatives and partnerships.

Reach/Outcomes

Theatre Porto's programming reached a broad demographic, from young children to adults with learning disabilities. The organisation's work included extensive outreach in local schools, community spaces, and its own cafe and theatre. The establishment of partnerships, such as with Big Imaginations and CRTA, has expanded the theatre's reach, while events like Topsy Turvy and the Family Film Club have solidified its role as a community hub.

We contribute to local priorities and council strategy such as

Starting Well : We engage children, young people (CYP) aged 0 – 19 years and families with a focus on:

Play activity for families with young children through a weekly play group, supporting communication and well-being.

Tackling Hardship and Poverty : Theatre Porto provides one of the few places in Ellesmere Port offering warm spaces and free food, helping to alleviate fuel and food poverty while supporting families with the cost-of-living crisis. Additionally, our work critically provides opportunities to raise aspiration levels, helping to break cycles of unemployment and support pathways into higher education and vocational training.

page 5

Theatre Porto Ltd

FOR THE YEAR ENDED 31/03/2024

TRUSTEES' REPORT

Resilient People Living Their Best Lives : We provide a welcoming and inspiring cafe environment and community hub, including an outdoor terrace and play area, serving local families and the wider community. We also offer light-touch creative and social activities for adults, such as our weekly Sketch Club, which reduces social isolation and improves health and well-being. Additional activities are provided for adults with learning disabilities, adults in recovery, parents of children with autism, and families experiencing ADHD.

Opportunity in a Fair Local Economy : We provide work experience and placements for young people, supporting employment, as well as casual employment for young professionals in front-of-house and technical roles. Theatre Porto is also establishing itself as a new visitor attraction, supporting the local economy by attracting visitors to the area, such as for our weekend summer outdoor arts programme, Topsy Turvy.

Neighbourhood Pride : The transformation of Whitby Hall has significantly increased local pride of place, with the venue widely acknowledged as the ‘jewel in the crown' for the town. Children, their parents, and local residents regularly report that the venue has improved their lives and enhanced their sense of pride in the area. Footfall in Whitby Hall has increased by 300%, with expectations of further growth as our programme continues to develop.

Greener Communities : Theatre Porto is uniquely situated within Whitby Park, which has received Green Flag status. The new theatre features environmentally friendly technology, reducing our carbon footprint. We actively encourage engagement with the park's green spaces and focus on the climate emergency in our work. We partner with organisations like Julia's Bicycle to enhance our sustainability efforts and seek external investment for green initiatives, including collaborations with local schools.

STRUCTURE GOVERNANCE AND MANAGEMENT

Status

The charity is a company limited by guarantee and not having a share capital. It was incorporated as a company in England and Wales on 26 July 1989 and registered as a charity in England and Wales on 21 December 1994.

ORGANISATION

The Board set and approve the policy for the Charity. In doing so the trustees give due consideration to guidance issued by the Charity Commission regarding, but not limited to stewardship, risk, public benefit and environmental impact. The Board meet four times each year and in between scheduled meetings as required. The Senior Management and staff are responsible for the delivery of the charity's objectives and the day to day operational management of the Charity.

The Board of Trustees is drawn from relevant professional backgrounds to best support the Charity. Trustees are elected in accordance with the Memorandum and Articles of Association which have recently been reviewed. Trustees are elected for a period of three years and may stand for re election at the end of that period for a further three years. They are then required to stand down for a period of 12 months before rejoining if desired. A comprehensive process of induction involving a transfer of information between the Charity and the prospective board member is in place. Training needs are assessed and addressed annually.

page 6

Theatre Porto Ltd

FOR THE YEAR ENDED 31/03/2024

TRUSTEES' REPORT

TRUSTEES

The names of the present Trustees and all who held office during the year are shown on page 1. No remuneration is paid to any trustee for their services as a trustee and no trustee had a material interest in any of the charity's contracts.

RESPONSIBILITIES OF TRUSTEES

The Charity Trustees (who are also the directors of Theatre Porto for the purposes of company law) are responsible for preparing the annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the charity trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources including the income and expenditure for that period. In preparing the financial statements the trustees are required to:

select suitable accounting policies and then apply them consistently;

observe the methods and principles in the charities SORP;

make judgments and estimates that are reasonable and prudent;

state whether applicable UK accounting standards have been followed subject to any material departures disclosed and explained in the financial statements;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

PAY POLICY FOR SENIOR STAFF

The directors consider the board of directors who are the trustees and the senior management team comprising the artistic director and executive director in charge of directing, controlling, running and operating the Trust on a day to day basis. All directors give of their time freely and no director received remuneration in the year. Details of directors' expenses and related party transactions are disclosed in the notes to the accounts.

The pay of senior staff is reviewed and reflects the level of skill, experience and knowledge for the roles and remuneration levels in the sector.

page 7

Theatre Porto Ltd

FOR THE YEAR ENDED 31/03/2024

TRUSTEES' REPORT

KEY MANAGEMENT PERSONNEL

Senior Managers of Theatre Porto

Artistic Director - Nina Hajiyianni

Executive Director - Caroline Brader

OBJECTIVES AND ACTIVITIES

Principal Activity

The principal activity of the charity in the year under review was that of working with young people, those who work with them and families and carers, towards the creation and presentation of performing arts through the medium of theatre performances, including new writing and workshops .

OBJECTS OF THE CHARITY

The company is established to advance education of the public and in particular young people in the performing arts and the visual arts.

The charity has developed a rolling three year business plan to manage the effective delivery of its aims and objectives. The plan contains strategy for action and explains the policies to be followed to achieve goals. The business plan is reviewed and monitored regularly. Alongside the plan, the Charity has adopted the following policies:

INVESTMENT POLICY

Under the Memorandum and Articles of Association the Charity has the power to make any investment which the Trustees see fit.

RELATED PARTIES

page 8

Theatre Porto Ltd

FOR THE YEAR ENDED 31/03/2024

TRUSTEES' REPORT

The Charity has a close relationship with Arts Council England and Cheshire West and Chester Council, both of whom provide funds for the Charity to carry out its charitable objectives.

ACHIEVEMENTS AND PERFORMANCE

A Summary of the Achievements and Performance is provided in the Artistic Director and Trustees' Report section at the beginning of this Trustees' Report.

VOLUNTEERS

Theatre Porto is very involved in the community and offers volunteering opportunities for skills development.

RISK MANAGEMENT

The charity confirms that its day to day controls, systems and business plans are all continually reviewed and updated to reflect current business conditions and are designed to mitigate risk faced by the charity.

PUBLIC BENEFIT

Theatre Porto advances education and entertainment for members of the public by making theatre that is accessible by all and celebrates, inspires and challenges young people. Whitby Hall is made available and utilised by a diverse range of groups based in the local community.

FINANCIAL REVIEW

Total incoming resources were £477,264 (2023: £591,933). Total resources expended were £516,520 (2023: £509,854) resulting in net incoming resources of £6,968 on the unrestricted fund (2023: £4,451 net incoming resources) and £46,224 net outgoing resources on the restricted funds (2023 net incoming resources £77,628). The balance of unrestricted funds is £97,376 (2023: £90,408) at the year end comprising unrestricted general funds of £85,376 (2023 £78,408) and £12,000 (2023 £12,000) designated development funds. The balance on the restricted funds at 31 March 2024 was £368,900 (2023 £415,124). Total funds on the balance sheet at 31 March 2024 were £466,276 (2023 £505,532).

RESERVES POLICY

The Charity has a policy of maintaining a free reserve (that is those funds not tied up in fixed assets and designated and restricted funds) to provide for financial stability in any future challenging environment. Trustees have a positive attitude to growing reserves. The target reserves figure is 3 months operational costs, based on the predicted turnover for the current financial year (approximately £80,000). Releasing of funds from the reserve must be approved by at least 2 Trustees.

page 9

Theatre Porto Ltd

FOR THE YEAR ENDED 31/03/2024

TRUSTEES' REPORT

This reserve will be held in a separate account from that of the daily expenditure accounts and reflected in annual accounts.

FIXED ASSETS

Full details of the movements in the company's fixed assets are set out in the notes to the accounts.

EQUAL OPPORTUNITIES

The charity aims to apply equal opportunities at all levels.

POLITICAL CHARITABLE DONATIONS

During the year there were no political or charitable donations made.

AUDIT

This company is exempt from audit under section 477 of the Companies act 2006 and therefore no audit has been carried out.

APPROVAL

The report was prepared in accordance with the special provisions within Part 15 of the Companies Act 2006.

This report was approved by the Board of Trustees on 21/11/2024 and is signed by order of the Board

Janet Dunn Trustee

page 10

Theatre Porto Ltd

INDEPENDENT EXAMINER'S STATEMENT

FOR THE YEAR ENDED 31/03/2024

I report on the accounts of the charity for the year ended 31/03/2024

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND INDEPENDENT EXAMINER

As the charity's trustees of the Company (who are also the directors of the company 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).

BASIS OF INDEPENDENT EXAMINERS STATEMENT

Having satisfied myself that the accounts of the Company are not required to be audited for this year 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 EXAMINERS STATEMENT

The company's gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of ACCA.

I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that:

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.

.................................................................. Independent Examiner:

Julie Guinan FCCA 21/11/2024

Harvey Guinan, Chartered Certified Accountants, Unit 17 Mersey House, Matchworks Estate, 140 Speke Road, Liverpool, L19 2PH

page 11

Theatre Porto Ltd

Statement of Financial Activities for the year ended 31/03/2024

Income
Income from generated funds
Income from Investments
Income from charitable activities
Total Income
Expenses
Costs of generating funds
Expenditure on Charitable activities
Total Expenses
Net Income
Net movement in funds:
Net income for the year
Total funds brought forward
Net funds carried forward		 Unrestricted
funds
£
91
294,409
294,500
287,532
287,532
6,968
6,968
90,408
97,376		 Restricted
funds
£
-
182,764
182,764
228,988
228,988
(46,224)
(46,224)
415,124
368,900		 2024
Total
£
91
477,173
477,264
516,520
516,520
(39,256)
(39,256)
505,532
466,276		 2023
Total
£
-
591,933
591,933
509,854
509,854
82,079
82,079
423,453
505,532

This statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities

page 12

Theatre Porto Ltd 2023
£
416,322
89,210
BALANCE SHEET AT 31/03/2024
Notes
FIXED ASSETS
Tangible assets
4
CURRENT ASSETS
Debtors (amounts falling due within one year)
5
Cash at bank and in hand
CREDITORS: Amounts falling due within one year
6
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
RESERVES
Unrestricted funds
8
General fund
Designated funds
Restricted funds
9		 26,285
120,736
147,021
56,035		 2024
£
375,290
90,986
466,276
85,376
12,000
368,900
466,276		 63,302
109,723
173,025
83,815
505,532
78,408
12,000
415,124
505,532

For the year ending 31/03/2024 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

Approved by the board of trustees on 21/11/2024 and signed on their behalf by

.............................

Janet Dunn Trustee

page 13

Theatre Porto Ltd

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31/03/2024

1. ACCOUNTING POLICIES

1a. Basis Of Accounting

The accounts have been prepared under the historical cost convention.

The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.

1b. Incoming Resources

All Incoming Resources are included on the Statement of Financial Activities when the charity is legally entitled to the Income and the amount can be quantified with reasonable accuracy.

1c. Resources Expended

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources.

1d. Allocation And Apportionment Of Costs

All costs relate to the single activity of the charitable company and are recognised accordingly.

1e. 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.

Designated funds are funds set aside by the trustees out of unrestricted general funds for specific future purposes or projects.

1f. Depreciation

Fixed assets are shown at historical cost.

Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.

straight line 16.67 to 33.33 Fixtures And Fittings % Equipment straight line 10 %

page 14

Theatre Porto Ltd

1g. Pension Costs

The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.

1h. Turnover

Turnover represents the invoiced value of goods and services supplied by the company, including revenue grants.

1i. Leasing Commitments

Rentals payable under operating leases are charged to the income and expenditure account on a straight-line basis over the term of the lease. Incentives received to enter into a lease agreement are recognised in the profit and loss account over the shorter of the lease term and the period to the next lease review.

1j. Policy For Financial Instruments

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

Incentives received to enter into a lease agreement are recognised in the profit and loss account over the shorter of the lease term and the period to the next lease review.

1k. Policy For Debtors

Trade and other debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid after taking account of any discount due.

1l. Policy For Cash At Bank And In Hand

Cash at the bank and in hand includes cash and short term liquid investments with a short maturity of three months or less form the date of acquisition or opening of the deposit or similar account.

1m. Policy For 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 a 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 value amount after allowing for any discount due.

1n. Policy For Interest Receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

page 15

Theatre Porto Ltd

1o. Policy For Going Concern

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

2. DIRECTORS AND EMPLOYEES

Particulars of employees (including directors) are shown below:

Employee costs during the year amounted to:
Wages and salaries
Social security costs
Pension costs		 2024
£
267,040
13,841
7,480
288,361		 2023
£
217,317
12,745
6,945
237,007

No director of the board, being also a Trustee, received any remuneration for their services as a Trustee. No director had any interest in any of the company's contracts during the year.

There were 12 employees during the year (2023 - 10).

3. PENSION CONTRIBUTIONS

Pension contributions 2024
£
7,480
7,480		 2023
£
6,945
6,945

page 16

Theatre Porto Ltd

4. TANGIBLE FIXED ASSETS

Cost
At 01/04/2023
Additions
At 31/03/2024
Depreciation
At 01/04/2023
For the year
At 31/03/2024
Net Book Amounts
At 31/03/2024
At 31/03/2023
5. DEBTORS
Amounts falling due within one year:
Trade debtors
Other debtors		 Fixtures
and
Fittings
£
30,399
4,913
35,312
28,996
934
29,930
5,382
1,403		 Equipment
£
461,021
1,212
462,233
46,102
46,223
92,325
369,908
414,919
2024
£
24,249
2,036
26,285		 Total
£
491,420
6,125
497,545
75,098
47,157
122,255
375,290
416,322
2023
£
61,262
2,040
63,302

Included in Debtors is £12,411 in respect of a claim for Theatre Relief (2023 £7,297).

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Taxation and social security
Other creditors		 2024
£
6,916
4,584
44,535
56,035		 2023
£
8,926
-
74,889
83,815

Included in other creditors is £32,300 (2023 £66,032) deferred income being income received in advance of spend in 2024-2025. See deferred income note 11.

page 17

Theatre Porto Ltd

7. LIMITED BY GUARANTEE

The company is limited by guarantee and does not have a share capital. Each member gives a guarantee to contribute a sum not exceeding £1, to the company should it be wound up. At 31/03/2024 there were 9 members.

8. UNRESTRICTED FUNDS

General fund
Designated Development fund		 Brought
forward
£
78,408
12,000
90,408		 Incoming
resources
£
294,500
-
294,500		 Outgoing
resources
£
(287,532)
-
(287,532)		 Transfers
£
-
-
-		 Carried
forward
£
85,376
12,000
97,376

page 18

Theatre Porto Ltd

9. RESTRICTED FUNDS

Arts Council England Small Scale Capital
Arts Council England Kickstart Grant
Esmee Fairbairn Foundation
UK Shared Prosperity Fund
Restricted Donations and Sponsorship
Westminster Foundation
Cheshire West and Chester Council Annual Grant
Sundry Capital Grants
Chester Bluecoat Funding
Lottery Awards for All
HAF Programme
Westminster Foundation CoLC
Curious Minds
Small Revenue Project Grants		 Brought
forward
£
342,070
61,308
-
-
-
-
-
11,746
-
-
-
-
-
-
415,124		 Incoming
resources
£
-
-
3,500
77,250
5,623
32,350
26,000
-
11,250
8,172
2,109
4,660
10,700
1,150
182,764		 Outgoing
resources
£
(38,178)
(6,738)
(3,500)
(77,250)
(5,623)
(32,350)
(26,000)
(1,308)
(11,250)
(8,172)
(2,109)
(4,660)
(10,700)
(1,150)
(228,988)		 Transfers
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Carried
forward
£
303,892
54,570
-
-
-
-
-
10,438
-
-
-
-
-
-
368,900

Arts Council England Small Scale Capital

Funds for redevelopment costs, theatre equipment, and the creation of a theatre space

Arts Council England Kickstart Grant

Funds for capital equipment, resources, and the creation of a theatre space

Esmee Fairbairn Foundation

page 19

Theatre Porto Ltd

9. RESTRICTED FUNDS

Funds for Salary

UK Shared Prosperity Fund

Funds from local authority to bring cultural activities to the local community

Restricted Donations and Sponsorship

Funds for Arts Trail and Christmas Dinner

Westminster Foundation

Funds For Drama Drop In Programme

Cheshire West and Chester Council Annual Grant

Funds for Core Activity

Sundry Capital Grants

Funds for Capital Equipment

Chester Bluecoat Funding

Funds for the Wednesday club

Lottery Awards for All

Project grants

HAF Programme

Funding for holiday activities

Westminster Foundation CoLC

Funds for CoLC Delivery

Curious Minds

Funds for Cultural Learning Exchange project

Small Revenue Project Grants

Funds for community arts projects

10. RELATED PARTY TRANSACTIONS

The aggregate remuneration of key personnel was £74,736 (2023 £69,584). No employee received remuneration in excess of £60,000.

page 20

Theatre Porto Ltd

11. DEFERRED INCOME

Funds in
Advance
At 1 April
2023
Released to
Income &
Expenditure
Income
received in
Advance in
Year
At 31 March
2024		 Total
66,032
(66,032)
32,300
32,300		 HAF and
Resources
2,500
(2,500)
-
-		 Westminster
CoLC
4,660
(4,660)
-
-		 Westminster
Foundation
30,000
(30,000)
20,000
20,000		 Esmee
Fairbairn
3,500
(3,500)
-
-		 Awards
For All
-
-
11,000
11,000		 Curious
Minds
8,000
(8,000)
1,300
1,300		 Function
&
Arts Trail
Donations
2,122
(2,122)
-
-		 PCC
Fund
&
Crossed
Lines
4,000
(4,000)
-
-		 Chester
Bluecoat
11,250
(11,250)
-
-

12. GENERAL INFORMATION

Theatre Porto Ltd (formerly Action Transport Theatre until 8 August 2022 on changing name) is a private company limited by guarantee, with charitable status and incorporated in England. Its registered office is Theatre Porto, Stanney Lane, Ellesmore Port, Cheshire, England, CH65 6QY. The financial statements are presented in Sterling which is the functional currency of the company.

page 21

Theatre Porto Ltd

13. INCOME FROM CHARITABLE ACTIVITIES

The income from charitable activities is attributable to that of working with young people, those who work with them and families and carers, towards the creation and presentation of performing arts through the medium of theatre performances, including new writing and workshops.

Cheshire West & Chester Council Core Grant including reopening and recovery
Arts Council England NPO Funding
Cheshire West & Chester Council Project Grant
Curious Minds
Westminster Foundation including CoLC
Esme Fairbairn
Chester Bluecoat
Voluntary Sundry Income and Donations
HAF Programme
Services: Workshops and Education, Equipment Hire, Venue Hire, CJRS Furlough
Grants, Visiting Productions, Cafe Income and Box Office
Big Lottery Awards for All
Theatre Relief
Restricted Donations and Sponsorship
Cheshire Community Foundation
Sundry Capital Grants
ACE Small Scale Capital and ACE Kickstart
UK Shared Prosperity Fund
Small Revenue Project Grants		 2024
26,000
177,916
-
10,700
37,010
3,500
11,250
8,198
2,109
95,356
8,172
12,411
6,151
-
-
-
77,250
1,150
477,173		 2023
25,000
122,917
9,000
52,000
65,188
46,000
15,000
13,805
5,490
49,974
7,458
10,102
38,544
7,725
13,050
110,680
-
-
591,933

14. CORPORATION TAXATION

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

15. ALLOCATION OF NET ASSETS

The net assets are held for the various funds as follows:

Unrestricted Funds
Restricted Funds		 Fixed
Assets
6,390
368,900
375,290		 Net
Current
Assets
90,986
-
90,986		 Total
97,376
368,900
466,276

page 22

Theatre Porto Ltd

16. RESOURCES EXPENDED

Cost of Operating a Young People's Theatre Company

Organisational Support Costs include establishment and Office Administration Costs

Direct Project Costs
Production, Publicity,Touring & Storage costs
Support Costs
Staff including Contractors
Organisational Support
Costs of Charitable Activity
Governance Costs
Accountancy - Independent Examination
Away Day Costs
Total Resources Expended		 2024
116,937
285,735
111,628
_
514,300
2,220
-
_
2,220
516,520		 2023
122,474
258,153
127,127
_
507,754
2,100
-
_
2,100
509,854

17. OPERATING LEASE COMMITMENTS

The annual commitments under operating leases are analysed according to the period in which each lease expires as shown below:

The Charity had a 25 year lease on the premises it occupied from 2004 at nil rent with service charges payable. In 2020-2021 the charity vacated those premises now subject to capital development by the local authority. The charity currently occupies the premises under a tenancy at will agreement while a new lease and service charge is being negotiated.

2024 2023
Within One Year - -
======= =======
Between two and Five Years - -
======= =======
After Five Years - -
======= =======

18. TRANSACTIONS WITH DIRECTORS

The Charity has met individual travel and subsistence expenses totalling £nil in the year (2023:£nil) incurred by Trustees in attending Board, Committee and other meetings.

page 23

Theatre Porto Ltd

Incoming Resources
for the year ended 31/03/2024
Incoming resources
Incoming resources from generated funds
Investment income
Bank Interest Receivable
Incoming Resources From Charitable Activity
Cheshire West & Chester Council Core Grant
Arts Council England NPO Funding
Cheshire West & Chester Project Grant
Box Office
Gift Aid Income
Westminster Foundation CoLC Delivery
Vivo Fund
Curious Minds
Cheshire Community Foundation
Cheshire West Voluntary Community Fund
Teatro Pomodoro
Restricted Donations and Sponsorship
Services Income
Hire Income
Local Authority
Theatre Relief
Arts Council England Small Scale Capital
Big Lottery Awards For All
Esmee Fairbairn
Westminster Foundation
Chester Bluecoat
HAF Programme
Sundry Capital Grants
Charitable Activity 3
Cafe Income
UKSPF
Small revenue grants
Charitable Activity 4
Voluntary Donations		 91
26,000
177,916
-
20,046
528
4,660
-
10,700
-
-
-
5,623
18,613
36,050
12,411
-
8,172
3,500
32,350
11,250
2,109
-
20,647
77,250
1,150
8,198		 2024
£
91
91
300,136
69,792
99,047
8,198
477,173		 -
25,000
122,917
9,000
15,548
52
17,938
2,000
52,000
7,725
1,995
15,000
19,497
19,521
7,929
10,102
110,680
7,458
46,000
47,250
15,000
5,490
13,050
6,976
-
-
13,805		 2023
£
-
-
316,122
255,030
6,976
13,805
591,933

page 24

Theatre Porto Ltd

Incoming Resources
for the year ended 31/03/2024		 2024
477,264		 2023
591,933

page 25

Theatre Porto Ltd

Expenses for the year ended 31/03/2024

Expenses
Costs of generating funds
Charitable Activities
Operation of a Theatre Company For Young People
Project Marketing
Artists and Creatives
Other Project Costs
Other Projects Freelancers
Website Costs
Production Materials
Venue and Maintenance
Utilities - Gas, Water, Electricity
Actors Wages
Salaries
NIC employer (wages and salaries)
Pension contributions
Other Staffing Costs
Training and Recruitment
Accountancy fees
External Support
Insurance
Hospitality
Travel and Seeing Work
Core Marketing & Promotion
Office Expenses
Utilities Phone and Internet
Small Equipment Purchases
IT Maintenance
Technical Maintenance
Bank charges
Sundry expenses
Depreciation of fixtures and fittings
Depreciation of equipment
Governance Costs
Accountancy - Governance Cost		 2024
£
3,746
51,183
26,352
9,844
2,434
2,845
12,947
12,662
21,234
245,806
13,841
7,480
16,500
2,108
2,841
6,419
4,692
161
1,352
5,100
2,675
989
1,667
6,659
4,441
(440)
1,604
934
46,224
514,300
2,220
2,220		 2023
£
6,280
47,689
38,247
19,086
2,177
8,995
19,220
12,526
-
217,317
12,745
6,945
19,336
1,810
3,416
9,182
4,590
-
1,342
7,819
2,463
1,660
5,670
6,062
5,294
11
1,253
517
46,102
507,754
2,100
2,100

page 26

Theatre Porto Ltd

Expenses for the year ended 31/03/2024

2024
516,520		 2023
509,854

page 27