Charlty registration number 1054768 Company registration number 03167924 IEnglan(J and Wales) PENRITH PLAYERS THEATRE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
PENRITH PLAYERS THEATRE LEGAL AND ADMINISTRATIVE INFORMATION Trustees MrRABird Mr J Rostron Mrs N M 8inder Mr l D Baker Mr M J Collingwood Mrs L M Hodson Mrs EJJohnson Secretarv Mr J Rostron Charlty number 1054768 Company number 03167924 Independent ex•miner David Andrew Llddle 8AIHon51, FCA 4 Mason Court Glllan Way Penrlth 40 8uslness Park PenrSth CumbrSa CAII 9GR
PENRITH PLAYERS THEATRE CONTENTS Page Trustees, report Independent examiner's report Statement of flnanclal actlvltle5 Summary Income and expendlture account Statement of flnancial posltlon Notes to the financial statements 9-20
PENRITH PLAYERS THEATRE TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30JUNE 2024 The Trustee5 present their annual report a nd financial 5tateirent5 for the year ended 30 lune 2024. The financial statements have been prepared in accordance with the accounti ng policie5 Set out in note I to the financia I statements and comply with the Charity's Boverning document, the Companies Act 2006 and Accounting and Reportlng 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 IFRS 1021" (effective I january 20191. Oblectlves and artlvltles The main objert5 of the Charity éuring the year were the continuation of theatrlcal performances together wlth the encouragement and continuation of musical events. As well as staging productions by Penrlth Players visits from, and jolnt productions with, other theatrlcal companles are encouraged. The Charlty also encourages other people, organlsatlons and groups to use the facllltles of the Charlty for a small fee in order to wlden the avallabllity of the arts to the local comrnu nitv. The provlslon of public beneflt durlng the year was by the promotlon, maintenance and improvement of publlc educatlon and appreciation of the arts, particularly through drama, dance, music and poetry. All of the Charity's assets are avallable and adequate to fulfil its obligatlons, artlstlc events, Includlng plays and muslca Is, concerts and play readings. Publlc beneflt The Trustees have pald due regard to 8uldance Issued by the Charlty Comm155i0n In decldlng what actlvltles the Charity Should undertake, Achlevements and performance Slpnificont o¢tivities ond achlevements aqoinst objertlves The last year has seen Penrith Players Theatre consolidate its posltlon as one of the foremost arts venues In the area. Audiences have contlnued to delight in a wlde range of theatrical produrtlons and muslcal events. whllst the Theatre has also welcomed a number of local arts related groups and other organlsatlons through its doors. The programrne of events put on at the Theatre continues to expand wlth several new acts belng welcomed durlng the year. Mernber5 of Penrlth Players performed slx plays, ranging from the ever~popular classlcal theatre through to a hlghlv entertaining Chrlstmas pantomime jtsintly staged in collaboration wlth another local theatre group. Plug 'n' Play saw Its audiences grow as It conducted a full programme of open-mic musical evenlngs, whilst a number of other musical and arts- based events also took place. The Junior sertlon remains popular wlth young people in the area and It Is hoped it will stage another production during the forthcomlng year. The Charity has to generate its own income to enable It to contlnue offerlng a theatrical and musical venue to Its members, the loca I communlty and to third.party hlrers. The Trustees, through the Theatre'5 Council, have contlnued to take steps to Increase membership of the Charlty, generate more third-party Income through greoter communlty use of the Theatre and Increase performances by the Theatre's own members. During the year, the prolect to Improve the Theatre's facllities and make it more envlronmentally sustainable continued. The Charlty's Councll Is grateful for the grant SUPPOrt it recelved from both Baywlnd Energy and Westmorland & Furness Councll who helped to fund the new Solar panels fitted to the theatre roof together wlth an array of storage batterie5. As a result, the Theatre has been able to enter into an agreement to export surplus electrlcity to the Grid 50 generating additional income to help fund its charitable objectives. Early In the year an application was submitted for a share of the Borderlands fundlng announced by the previous government. It Is planned to make the Theatre auditorlum and bar area more flexible spaces to increase their appeal to a wider range of organisations and musical acts. The Trustees also wlsh to Invest more Into renewable energy assets to further reduce the Theatre's dependence on fossil fuels, but both of these proletts are dependent upon the grant support application being successful.
PENRITH PLAYERS THEATRE TRUSTEES, REPORT (INCLUDING DIREcfoRS' REPORTI (CONTINUED) FOR THE YEAR ENDED 30JUNE 2024 Financial review Operating a theatre the size of Penrith Playhouse is challenging in that the Charity does not receive any external funding fo r its day-to-day activities. All revenue 15 generated by its members, activities and financial success is dependent upon the attendance of the general public at the plays, musical and other events presented and upon third parties hiring the theatre. Due to its wholly voluntary nature the Charlty has been unable to generate large liquid reserves through its activities for some time. Since the current building was acquired in 1998. the Theatre has regularly made annual losses with any surpluses being invested in developing the property and additional theatrical equipment. The Theatre is run entirely by volunteers whose efforts have enabled it to produce a slgnificant trading profit for the second year in a row, whilst at the same time improving the faclllties avallable to Its members and the Theatre's environmental footprlnr. Income, before grants of £IO,00012023.. £7,766), was marglnally lower at £57,15812023: £57,923), but strong c05t Control and the good fortune of not having to fund significant property repairs resulted In a £7,561 reduction In overheads before, 8rant amortisation of £2,35512023.. £2,317), to £43.37112023'. £50,932),. the net result was a profit before grant5 of £13,78712023.' £6,991). Desplte making a substantial investment in renewable energy assets, the CharltV'5 flnanclal posltion remalns strong. At 30 June 2024 it had funds of £208,62912023: £187,197), of which £172,12712023: £158,340) are unrestricted, and net cash of £70,83212023: £72,923). Reserves policy It is the policy of the Charity that unrestricted funds whlch have not been deslgnated for a specific use should be malntained t a level equlvalent to one year'5 expenditure. The Trustees consider that reserves at thls level will ensure that, in the event of slgnlflcant drop In fundlng or a malor repalr to the fabrSc of the Theatre, they wlll be able to continue the Charlty's current ctivities while consideration Is given to ways In whlch addltlonal funds may be ralsed. Thls level of reserves has been ma intained throughout the year. Structure, 8overnan¢e and management Penrith Player5 Theatre 15 3 company Ilmlted by guarantee, governed by Its Memorandum and Articles of Assoclation dated 5th March 1996. It Ss reglstered as a Charity wlth the Charlty Commission. The Ilablllty of each member15 re5trlcted to £1 i n the event of the charity winding up. The company's registered number 15 3167924 and its charSty's reglstration number Is 1054768. The Trustees, who are also the dlrectors for the purpose of company law, and who served durlng the year and up to the date of Signature of the financial statements were- MrRABird M r J Rostron Mr5 N M Blnder Mrl D Baker Mr M J Colllngwood Mr5 L M Hodson M r5 E J Johnson MrA P Hargreave5 (Deceased 13 july 20231 Recruitment and appointment of trustee5 Any member over the age of 18 can be nominated as a trustee. New trustees are made aware of thelr obligations and duties as trustee5, are immediately appolnted to the Council and attend the next meeting. They are introduced to the decision making process at that meeting. All tru5tee5 are encouraged to take up any training that may be available and which wlll enable them to perform their duties in a better manner.
PENRITH PLAYERS THEATRE TRUSTEES, REPORT (INCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 All trustees are members of the governing Council and ère responsible for the strategy policy and financial review of the Charity. There is one sub-committee, the theatre committee which comprises LJP to 3 Council members plus other members nominated from the membership. The Committee is responsible for the artlstic activlty of the Charity, with all other rnatters being dealt with directly by the Council. Members und employees Penrlth Players Theatre employs only one person, a part time cleaner, therefore all activities are undertaken by its member5 on a voluntary basis. The Trustees are grateful to the members who freely glve up thelr tlme to enable the organisation to achleve Its objectlves. Orgonisotlonolstrurture All trustees are members of the governing Councll and are responsible for the strate8y pollcy and financial revlew of the Charlty. There is one sub-commlttee, the theatre committee whlch comprises of up to 3 Council members plus other members nominated f rom the membership. The Committee is responslble for the artlstlc activity of the Charltyi Wlth all other matters belng dealt with dlrectly by the Councll. The Trustees, report was approved by the Board of Trustee5. Ft,Q MrRA8ird Trustee r J Rostron Trustee Date..
PENRITH PLAYERS THEATRE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PENRITH PLAYERS THEATRE I report to the Trustees on my examination of the financial Statements of Penrith Players Theatre Ithe Charityl For the yea r ended 30 June 2024. ResponslbllStles and basis of report As the Trustees of the Charity land a150 Its directors for the purposes of company lawl you are responsible for the preparation of the financial statements in accordance wlth the requlrements of the Companie5 Act 2006 Ithe 2006 Act). Having satlsfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examlnatlon, I report in respect of my examinatlon of the Charity's financial statements carrled out under sectSon 145 of the Charitie5 Act 2011 Ithe 2011 Act). In carrylng out my examlnatlon I have followed all the applicable Dlrectlons 8lven by the Charity Commission under sectlon 14515llbl of the 2011 Act. Independent examlner's ststernent I have completed my examlnation. I confirm that no rnatters have come to my attentSon In connectlon with the exarnlnation glvlng me cause to believe that In any materlal respect: accounting records were not kept in respect of the Charity as requlred by section 386 of the 2006 Act; or the flnanclal statements do not accord with those records,. or the financlal statements do not comply wlth the occounting requlrements of 5ectlon 396 of the 2006 Act other than any requirement that the accounts give a true and falr view whlch Is not a matter considered as part of an Independent examlnatlon,. or the financSal statements have not been prepared In accordance wlth the methods and princlples of the Statement of Recommended Practice for ac¢ountlng and reportlng by charitles applicable to charltles preparlng thelr account5 in accordance wlth the Flnancial Reporting Standard appllcable In the UK and Republic of Ireland IFRS 1021. I have no concerns and have come acros5 no other matter5 in connectlon with the examlnation to whlch attentlon should be drawn in this report Sn order to enable a proper understsnding of the financial statements to be reached. Davld Andrew Llddle BA{Hons1, FCA 4 Mason Court Gillan Way Penrlth 40 Bu51ness Park Penrith Cumbria CAII 9GR
PENRITH PLAYERS THEATRE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30JUNE 2024 Current linancial year Unrestricted funds 2024 Restricted funds 2024 Endowment funds 2024 Total Total 2024 2023 Notes Income from: Donations and legacies Cha ritable activities Investments 191 10,000 10,191 55,934 1,033 7,886 57,565 238 55,934 1,033 Total income and endowments 57,158 10,000 67,158 65,689 Expendlture on: Charitable activitle5 Other expenditure 43,371 1,496 44,867 859 50,932 2,317 li 859 Total expenditure 43,371 1,496 859 45,726 53,249 Net IncomellexpendSture) 13,787 8,504 18591 21,432 12,440 Net In<ome/le¥pendlturel 13,787 8,504 18591 21,432 12,440 Transfer5 between funds 7,274 17,2741 Net movement In funds 13,787 15,778 18,1331 21,432 12,440 Reconciliatlon of lunds: Fund balances at l July 2023 158,340 28,857 187,197 174,757 Fund balances at 30 June 2024 172,127 15,778 20,724 208,629 187,197 The statement of fSnanclal actlvltle5 Includes all 8alns and losses recognSsed In the year. All in¢ome and expendlture derlve from continuing actSvities.
PENRITH PLAYERS THEATRE STATEMENT OF FINANCIAL AcfiviTIES (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Prior financial year Unrestricted fund5 2023 Endowment funds 2023 Total 2023 Notes Income from: Donations and legacies Charitable activlties Investments 120 7,766 7,886 57,565 238 57,565 238 Total Income and endowments 57,923 7,766 65,689 Expendlture on: Cha rltable activities Other expendlture 50,932 50,932 2,317 li 2,317 Total expendlture 50,932 2,317 53,249 Net Income and movement In lunds 6,991 5,449 12,440 Reconclllat5on of funds: Fund balances at l July 2022 151,349 23,408 174,757 Fund balances at 30 June 2023 158,340 28,857 187,197
PENRITH PLAYERS THEATRE STATEMENT OF FINANCIAL POSITION ASAT30JUNE2024 2024 2023 Notes Fixed assets Tanglble assets 13 134,913 111,827 Current assets Stocks Debtor5 Cash at bank and In hand 14 1,542 4,622 70,832 1,388 3,823 72,923 15 76,996 78,134 Credltors." amounts falllng due wlthln one vear 16 13,2801 12,7641 Net current assets 73.716 75,370 Total assets less turrent Ilabllltles 208,629 187,197 Capltal funds Endowment funds Endowment funds- general Income fvnds Restrlcted funds Unrestrlcted funds 18 20,724 28,857 19 15,778 172,127 158,340 208,629 187,197
PENRITH PLAYERS THEATRE STATEMENT OF FINANCIAL POSITION (CONTINUED) ASAT30JUNE2024 The company 15 entitled to the exemption from the aLJdit requirement contained in section 477 of the Compan ies Act 2006, for the year ended 30 June 2024. The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the prepa ration of financial statements. The Members have not required the company to obtain an oudlt of it5 finoncial 5tatement5 for the year In question in accordance with section 476. These fTnanclal statements have been prepared In accordance wlth the provlslons applicable to companSes Subject to the small companies regime. The flnanclal statements were approved by the Trustees on MrRABlrd J Rostr Trustee Trustee Company re8iStrntion number 03167924
PENRITH PLAYERS THEATRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30JUNE 2024 Accounting policies Charity information Penrith Players Theatre is a public benefit entity and a private compa ny limited by guarantee incorporated in England and Wales. The registered offlce is Penrith Playhouse, Auction Mart Lane, Penrith, Cumbria, CAII 7JG. 1.1 A¢tountln8 ¢onventlon The financial statements have been prepared In accordance with the Charlty's Igovernlng documentl. the Companles Act 2006, FRS 102 "The Financial Reportlng Standard applScable in the UK and Republic of Ireland" I'FRS 102,1 and the Charities SORP "Accountlng and Reporting by CharitSes.' Statement of Recommended PractSce appllcable to charitles preparing thelr accounts in accordance wlth the Financlal Reporting Standard appllcable Sn the UK and Republic of I reland IFRS 1021" leffectlve I January 20191. The Chorlty Is a Publlc 8eneflt Entlty as deflned by FRS 102. The Charity has taken advantage of the prov151ons in the SORP for charlties not to prepare a Statement of Cash Flows. The financlal statements are prepared in sterlln& whlch Is the functlonal currency of the entity. The financial statements have been prepared on the historical cost bas15, as modified by the revaluation of certaln financial assets and liabilities and Investment properties measured at fair value through Income or expenditure. 1.2 Golng eoncern At the tlme of approvlng the flnanclal statements, the Trustees have a reasonable expectation that the Charlty has adequate resources to continue In operatlonal existence for the foreseeable f uture. Thus the Trustees contlnue to adopt the golng concern basls of accountlng in preparlng the flnancial staternent5. 1.3 Charitable funds Unrestrlcted funds are available for use at the discretlon of the Trustees In furtherance of thelr charitable oblectlves. Restricted funds are subject to specific condltlons by donors or grantors as to how they may be used. The purpose5 and uses of the restricted funds are set out In the notes to the financial statements. Endowment funds represent those assets which must be held by the Charity, prlnclpally flxed assets. The endowment is to be treated as expendable to the extent of the aggregate amount of Its depreciation provided Sn the annual accounts, based on Its estimated useful Ilfe. 1.4 Income Income Is recognised when the Charity is legally entltled to it after any performance conditions have been met, the amounts can be measured reliably, and It Is probable that Income will be received. Cash donatlons are recognlsed on recelpt. Other donation5 are recogn15ed once the Charlty has been notlfled Of the donation, unless performance conditions require deferral of the amount. Income tax recoverable In relation to donations recelved under Gift Aid or deeds of covenant is recognised at the tlme of the donation. Legacie5 are recognised on receipt or otherwlse if the Charity has been notified of an impending dlstrlbutlon, the amount is known. and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. Local authority and lottery grants in SpeCt of buildlngs and equipment are recognlsed In full in the SOFA as endowment fund income when they are receivable
PENRITH PLAYERS THEATRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30JUNE 2024 Accounting policies (Continued) 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it Is probable that a transfer of economic benefits will be required in settlement, ancl the amount of the obligation ca n be measured rellably. Expenditure Is classlfSed by actlvlty. The costs of each activity are made up of the total of direct costs and shared costs, Including support costs involved In undertaking each actlvlty. Direct costs attributable to a slngle activity are allocated dlrectly to that activity. Shared cost5 which contribute to more than one activity and support costs which are not attributable to a single activlty are apportloned between those activities on a basls con51stent with the use of resources. Central staff costs are allocated on the basls of tSme spent, and depreclatlon charges are allocated on the portion of the asset's use. 1.6 Tangible fixed assets Tangible fixed assets are Inltlally measured at cost and subsequently measured at cost or valuatlon, net of depreciation and any Impalrment losses. Depreciation is recognlsed so as to wrlte off the cost or valuatlon of assets less thelr resSdual values over their useful Ilves on the following bases., Freehold land and bulldlngs Fixtures and fSttlngs Technlcal equlpment Centra I heatln8 5YStem Renewable energy equipment Stralght Ilne over 50 years (endowment funds only) Stralght Ilne over 5 to 7 years Stralght line over 10 years Straight line over 10 to 20 years Straight line over 10 to 20 years The 8a5n or105s ar151ng on the dlsposal of an a55et 15 determined as the difference between the sale proceeds and the carrylng value of the a55et. and 15 recognlsed In the statement of financial activities. 1.7 Impairrnent of fSxed assets At each reportlng end date, the Charlty revSews the carryln8 amounts of its tangible assets to determlne whether there Is any Indicatlon that those assets have suffered an impaimient 1055. If any such Indlcation exists, the recoverable amount of the asset Is estlmated In order to determine the extent of the Impalrment loss Ilf any). 1.8 Stocks Stocks are stated at the lower of cost and estlmated selling prlce less cost5 to complete and sell. Cost comprises dlrect materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for dlstrlbutlon at no or nominal consideration are measured the lower of replacement C05t and cost. Net realisable value is the estimated selllng prlce less all estimated costs of completion and costs to be Incurred in marketing, selling and distribution. 1.9 Cash and cash equlvalents Cash and cash equivalents include cash in hand. deposits held at call wlth bank5, Other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 10-
PENRITH PLAYERS THEATRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Accounting policies (Continued) 1.10 Flnancial Instruments The Charity has elected to apply the provisions of Section 11 '8asic Financlal Instruments, and Section 12 '0ther Flnanclal Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognlsed In the Charity's balance sheet when the Charity becomes party to the contractual provisions of the Instrument. Financial assets and 1Sabllltles are offset, with the net amounts presented In the financlal ststements, when therè 15 a legally enforceable right to set off the recognised amounts and there is an intentlon to settle on a net basls or to reallse the asset and settle the Ilability simultaneously. Basicfinonclal assets 8a51c financlol assets, whlch Include debtors and cash and bank balances, are Inltlally measured at transactlon prlce Includlng transaction costs and are subsequently carried at amortlsed cost Uslng the effectlve interest method unle55 the arrangement constitutes a financlng transactlon, where the tran5aCtlon is measured at the present value of the future receipts dlscounted at a market rate of interest. Flnancial asset5 cla551fled as receivable wlthln one year are not amortlsed. Bo51cflnoncial Ilabllltles 8aslc financial 1Sabllltles, Includlng credltors and bank loans are Initially recognlsed at transaction prlce unless the arrangement constitutes a flnancing transactlon, where the debt Instrument Is measured at the present value of the future payments dlscounted at a market rate of Interest. Flnantlal Ilabllltles classified as payable wlthln one year are not amortlsed. Debt Instruments are subsequently carrled at amortised cost, uslng the effettive Snterest rate method. Trade credltors are obligations to pay for goods or servlces that have been acqulred in the ordinary course of operatlon5 from supplSers. Amounts payable are classified as current Ilablllties if payment Is due wlthin one year or le55. If not, thev are presented as non-current Ilabllltles. Trade creditor5 are recognised Inltlally at transaction prlce and subsequently measured at amortlsed cost using the effectlve Interest method. Oereeognltlon offlnanclal Ilobllltles Financial liabilitie5 are derecognised when the Charlty's contractual obllgations explre or are dlscharged or cancelled. Crltl¢al accountlng e5tlmates and Judgements In the applicatlon of the Charity'5 accountlng policSes, the Trustees are required to make judgements, estlmates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estlmates and associated assumptions are based on historical experlence and other factors that are considered to be re5evant. Actual results may differ from these estlmates. The estimates and underlylng assumptlons are reviewed on an ongoing basis. Revlslons to accounting estimate5 are recognised in the period in which the estlmate Is revised where the revision affects only that perlod, or in the period of the revision and future periods where the revislon affects both current and future periods. 11
PENRITH PLAYERS THEATRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30JUNE 2024 Critical accounting estimates and judgement5 Icontinuedl The preparation of the financial statements require5 management to make j udgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually revlewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significont judgements There ore no judgements lapart from those involving estimations) that management have made In the process of applySng the entity's accountlng policies that have a slgniflcant effect on the amounts recognised Sn the financlal statements. Key sources of estimation uncertL71nty Accounting estlmates and o55umptlons are made concernlng the future and, by their nature, will rarely equal the related actual outcome. There are no key assumptlons and other sources of estimation uncertainty that have a significant r15k of causing a materlal adlustment to the carrying amounts of a55ets and Ilobllltles wlthln the next flnanclal vear. 12-
PENRITH PLAYERS THEATRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Charitable activities Charitable income Charitable income 2023 2024 Play and muslc receipts Sponsorship Income Barsales Subscriptions and fundralslng Premlses hire 23,905 1,000 17,348 3,174 10,507 30,072 1,000 17,189 2,723 6,581 55,934 57,565 Income from Investments Unrestrlcted funds 2024 Unrestrlcted funds 2023 Interest (eIVable 1,033 238 14-
PENRITH PLAYERS THEATRE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30JUNE 2024 Expenditure on charitable activities Theatre running expenses 2024 Other Total Theatre runnlng expenses 2023 Other Total 2024 2024 2023 2023 Dlrect costs Staff costs Depreciatlon and impalrment Purchases Rates & Water Light & Heat Repairs & Malntenance Insurance Llcences Offlce costs Costs of Productlon Vls5tlng Company & Art15t Fees General Expenses Advertising and Programme PrlntSng 3,034 3,034 2,975 2,975 1,496 8,327 2,137 4,097 3,536 4,557 889 488 2,220 3,716 8,327 2,137 4,097 3,536 4,557 889 488 7,405 2,564 2,564 8,510 2,170 4,157 7,488 4,165 851 8,510 2,170 4,157 7,488 4,165 851 440 10,489 440 10,489 7,405 3,577 198 3,577 198 1,956 295 1,956 295 1,700 1,700 3,550 3,550 41,441 2,220 43,661 47,046 2,564 49,610 Share of support and governance costs15ee note 7} Governance 1,206 1,206 1,322 1.322 42,647 2,220 44,867 48,368 2,564 50,932 AnalysSs by fund Unrestrlcted funds Restrlrted funds 41,151 1,496 2,220 43,371 1,496 48,368 2,564 50,932 42,647 2,220 44,867 48,368 2,564 50,932 Support Costs allOted to artlvltles 2024 2023 Goverr)ance costs 1,206 1,322 Analysed between: Charitable activitles 1,206 1,322 15-
PENRITH PLAYERS THEATRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30JUNE 2024 Net movement in fund5 2024 2023 The net movement In funds is Stated after charging/lcreditingl.' Fees payable for the independent examinotion ot the charity's financial Statements DeprecSation of owned tanElble flxed assets 1,260 4,577 1,200 4,881 Trustees None of the Trustees lor any persons connected wfth them) recelved any remuneratlon or benefits from the Charlty durlng the year. No expenses were relmbursed to the Trustees during the year. io Employees The average monthly number of employees durlng the year wa5: 2024 Number 2023 Number Employment Costs 2024 2023 Wages and salarles 3,034 2,975 There were no employees whose annual remuneratlon wos rn0 than £60,000. 11 Other expendlture Endowment funds 2024 Endowment funds 2023 Depreciation 859 2,317 12 Taxatlon The Charity is exempt from taxation on its activlties because all its incorne Is applied for charitable purposes. 16-
PENRITH PLAYERS THEATRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30JUNE 2024 13 Tangible fixed asset5 FrÈÈhold land and building5 Fixtu¥es and flttln85 Technical Central heatlng equipment system Renewable Total energv equipment Cost At l July 2023 Additions 161,406 68,790 263 67,045 22,986 320,227 27,663 27,400 At 30June 2024 161,406 69,053 67,045 22,986 27,4CN) 347,890 Depreclation and Impalmient At l July 2023 Depreclation charged in the year 63,302 65.474 56,638 22,986 208,400 930 1,187 2,523 1631 4,577 At 30 June 2024 64,232 66,661 59,161 22,986 1631 212,977 Carry5ng amount At 30June 2024 97,174 2,392 7,884 27,463 134,913 At 30June 2023 98,104 3,316 10,407 111,827 The depreclatlon charge for the year of £4,577 comprlses £1,496 charged to Restrlcted Funds, £860 charged to Endowment Funds and £2,221 charged to Unrestrlcted Funds. Barclays Bank PLC hold three legal charges over the Company from November 2000 for the land and bulldlngs it owns. 14 Stocks 2024 2023 Raw materlals and consurnables 1,542 1,388 15 Debtors 2024 2023 Amount5 falling due wlthln one year: Trade debtors Other debtors Prepayments and accrued Income 369 58 4,195 281 3,542 4,622 3,823 17-
PENRITH PLAYERS THEATRE NOTE5 TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30JUNE 2024 16 CTeditor5'. amount5 falling due within one year 2024 2023 Notes Deferred income Accruals 17 102 3,178 221 2,543 3,280 2,764 17 Deferred Income 2024 2023 Other deferred income 102 221 Deferred Income is included In the flnancSal statements a5 follows.. 2024 2023 Deferred Income Is Included within.. CUrnt Ilabllltles 102 221 Movements In the year: Deferred Sncome at l July 2023 Released from prevlous perlods Resources deferred In the year 221 1221 102 442 14421 221 Deferred Income at 30 June 2024 102 221 Deferred Income relates to membershlp fees for the 2025 financlal year. Endowment fvnds Endowment fund5 represent a55ets which must be held permanently by the Cho rity. Income arlsing on the endowment fiJnd5 can be used in accordance with the objects of the Charity and is Included as unrestricted income. Any capital gains or1055es arising on the assets form part of the fund. At l July 2023 Incoming resources Resources expended Transfers At 30 June 2024 Expendable endowment5 Endowment Fund 28,857 18591 17,2741 20,724 18-
PENRITH PLAYERS THEATRE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 JUNE2024 18 Endowment funds IContinued} Prevlous year: At l July 2022 Incoming resources Resources expended Transfers At 30 lune 2023 Expendable endowments Endowment Fund 23,408 7,766 12,3171 28,857 The trustee5 confirm the funds were always Intended to be restricted f unds and the transfer Is to reflect the true nature of the funds 19 Restrlcted funds The restrlcted funds of the charlty comprlse the unexpended balances of donatlons and grants held on trust 5ublect to 5peclflc conditions by donors as to how they may be used. At l July 2023 Incomin8 resour¢e$ Re50urces expended Transfers At 30 June 2024 10,000 11,4961 7,274 15,778 The trustees conflrm the funds were always Intended to be restricted funds a nd the transfer is to reflect the true nature of the funds 20 Unrestrlrted funds The unrestricted funds of the charlty comprlse the unexpended balances of donatlons and grant5 which are not sublect to specific condltlons by donors and grantors as to how they may be used. These Include deslgnated funds whlch have been set aslde out of unrestrlcted funds by the trustees for specific purposes. At l July 2023 Incomln8 resource5 Resources At 30 June 2024 expended General funds 158,340 57,158 143,3711 172,127 Previous year: At l July 2022 Incoming resources Resources At 30 June 2023 expended General funds 151,349 57,923 150,9321 158,340 19-
PENRITH PLAYERS THEATRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30JUNE 2024 21 Analysis of net assets between funds Unrestricted funds 2024 Restricted funds 2024 Endowment funds Total 2024 2024 At 30 June 2024: Tanglble assets Net current assets 98,411 73,716 15,778 20,724 134,913 73,716 172,127 15,778 20,724 208,629 Unrestrlcted fund5 2023 Restrlrted funds 2023 Endowment funds 2023 Total Z023 At 30June 2023: Tanglble asset5 Net Current assets 82,970 75,370 28,857 111,827 75,370 158,340 28,857 187,197 22 Flnanclal ¢ommltments* 8u4r•ntee5 and contlngent Ilabllltles In the year ended 30 June 1998, the Company recelved a £30,000 grant from Eden District Council in SpeCt of the purchase of the new theatre. The Council reserves the right to seek recovery of the grant should the organ15ation cease operating. Furthermore in the event of the premlses not belng utilised as part of the strategic cultural plan for the provlsion of facilitle5 for the Penrith Players or the communlty the bulldlng will be sold and the entire grant will become repayable. In the year ended 30 lune 1999 the company recelved a grant of £43,000 towards the c05t of seatlng, tlered staglng, and theatre equipment generally. If the exSsting theatre bulldlng In Auction Mart Lane Is no longer requlred as a theatrical venue the ownership of the tlered staging, seatln8 and theatre equipment generally to which part of the grant monles relate shall pa55 forthwlth to the Q)uncil whlch may then dispose of or re-use it in the Council's discretion. 23 Related party transartlons There were no disclosable related party transactions during the year12023 none). -20-