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
- the successful co-productions of Baba Yaga and Little Red, which exceeded audience targets and featured diverse casting.
- The Topsy Turvy outdoor arts event attracted 3,000+ attendees, mainly from local communities.
- Regular weekly provisions, including free drama clubs and creative workshops, engaging hundreds of children and young people.
- Special projects like the Wonder Classroom installation and The Shed peer education project enriched local schools cultural experiences.
- Venue hosted events such as the Writers Project, Family Film Club, and weekly Sketch Club, creating a vibrant and inclusive cultural space.
page 4
**Theatre Porto Ltd**
## **FOR THE YEAR ENDED 31/03/2024**
## **TRUSTEES' REPORT**
- Theatre Porto's collaborations with Big Imaginations and CRTA which brought diverse performances to local audiences
- support for freelance artists included a residency with RAWD and planning for future projects with Graeae Theatre.
## 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.
- Mental health and well-being support for CYP through person-centred creative activities and weekly groups, supported by pastoral and one-toone support workers. This directly helps reduce social isolation and anxiety.
- Broadening horizons by providing aspirational creative opportunities that cultivate ambition, including through schools' projects linked with higher education.
- Providing specialist creative provision for CYP who are looked after and in care through special holiday projects.
- Offering safe and inclusive spaces for children who experience SEND through regular tailored events for families.
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:
- Equality Policy and Plan
- Safeguarding Policy and Procedures
- Health and safety policy
- Financial controls
- Environmental and Sustainability Policy and Plan
- Fundraising Strategy
- Data Protection Policy and Plan
## 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:
- accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
- the accounts do not accord with such records; or
- the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 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
- the accounts have not been prepared in accordance with the Charities SORP (FRS102).
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