Registered number: 01526454 Charity number: 1056994
Medway Little Theatre Ltd
(A company limited by guarantee)
Unaudited
Trustees' report and financial statements For the year ended 31 August 2020
Medway Little Theatre Ltd
(A company limited by guarantee)
Contents
| Page | |
|---|---|
| Reference and administrative details of the charity, its Trustees and advisers | 1 |
| Chairman's statement | 2 - 5 |
| Trustees' report | 6 - 10 |
| Independent examiner's report | 11 |
| Statement of financial activities | 12 |
| Balance sheet | 13 |
| Notes to the financial statements | 14 - 22 |
Medway Little Theatre Ltd
(A company limited by guarantee)
Reference and administrative details of the charity, its Trustees and advisers For the year ended 31 August 2020
| Trustees | David Aldington |
|---|---|
| Roderic De Lorme | |
| Michael Dickinson | |
| Victoria Hayhow | |
| Chris Hynd | |
| Christopher Loft | |
| Nan Morran (resigned 19 November 2019) | |
| Kerensa Thompson | |
| John Winson | |
| Carol Wrate (appointed 19 November 2019) | |
| Company registered number 01526454 Charity registered number 1056994 Registered office 256 St Margarets Banks High Street Rochester Kent ME1 1HY |
Page 1
Medway Little Theatre Ltd (A company limited by guarantee)
Chairman's statement For the year ended 31 August 2020
The chairman presents his statement for the year.
What a year!.....Who would have thought at our last AGM in November 2019 that four months later in March 2020 we would be forced to close our doors owing to government restrictions imposed as a protective measure to limit the spread of a global pandemic, namely Covid19. What is even more concerning is the fact that one year later, in March 2021, the position remains the same, our doors remain closed, although following the government announcement in February, we have at last been given a ‘roadmap’ out of lockdown, subject to any revisions along the way.
It goes without saying of course that closure of the theatre has had a dramatic effect on our income. The season started well with Blithe Spirit achieving over 90% attendance, but ended on 43% overall. Sadly, the charities suffered too as only two of the performed plays sold their preview nights. Good news though is that Mailchimp subscribers have increased to 1145, so this will be a good way of updating people when we are able to reopen. Our online ticketing provider, TicketSource, also has various Covid-Safe procedures to help us adhere to any booking related restrictions following government guidelines upon reopening.
Unfortunately when we do reopen to a seat paying audience, you will not be seeing Janet’s friendly face at the box office. 2020 marked Janet’s tenth anniversary as box office manager and in December she decided it was time to step down. I can only say Janet, a big thank you from me and from all of us for all the hard work you have put into the job, so much of it over and above the call of duty, and I’m sure I speak for everyone when I say you will be greatly missed. We wish you well and hope to see you in the audience occasionally.
Now let’s look at what we did manage to achieve in 2019/2020 season. Well, we managed to get through half our season: three adult productions – Noël Coward’s ‘Blithe Spirit’, ‘Dangerous Obsession’ by N J Crisp and ‘Wild Goose Chase’ by Derek Benfield, followed by two Youth productions and finishing with our Children’s Workshop production in early March. (See later for details) Our three remaining adult productions for the season had to be cancelled, but the intention is that these productions will form part of our season when we are able to open again. The Duncan Rand One Act Festival also had to be cancelled, but so as not to disappoint our entrants, or anyone else who might be interested in taking part, we challenged them to write and record a play for the radio to be submitted and adjudicated by a panel of three adjudicators using the same rules. Hence, in May, the ‘Play on The Radio’ festival was born. Fifteen plays were received and adjudicated culminating in an awards ceremony which took place on Zoom. This proved extremely successful and I wholeheartedly thank all those groups who took part and all those people behind the scenes who made this possible, especially Kerrie Thompson, who co-ordinated the proceedings as well as being one of the adjudicators and Amanda SharpeConroy, who was originally to adjudicate the Duncan Rand, but who kindly and eagerly agreed to adjudicate the Radio festival. Who was the third adjudicator?... Well that was me! Incidentally, all the plays are still available to listen to on our website – www.mlt.org.uk.
Following on from this success, once Covid 19 restrictions had relaxed sufficiently, four of our actors began to rehearse a one act play that could be performed in a socially distanced manner with the intention that it could be performed online. And so it was that the play, A Jolly Sinister Jape by Elliot Strange, was live streamed from the MLT stage, but without a live audience, for three performances on the 9th & 10th October. Again this proved very successful with 138 log-ins recorded and an estimated total audience of 200. My thanks and congratulations go to all concerned both on and off stage.
On the back of this subsequent success, plays were being looked at for future live streaming and indeed one had been chosen, but unfortunately Covid restrictions tightened and plans had to be put on hold, although I believe online rehearsals have been taking place in the interim. So, as soon as we are able to enter the theatre again, then hopefully socially distanced rehearsals can commence on stage and in due course we will have another livestream show to bring to you.
Another idea our Production Committee is considering looking into, in lieu of our being able to invite audiences back into the theatre, is whether we might be able to put on an open-air production in the summer, subject to finding a venue, the relaxation of Covid restrictions and the logistics involved. Further discussions are to take place regarding this and any other ideas which have been put forward by members of the committee.
Onto our youth sections, who produced in November a very successful joint Extravaganza production ‘Treasure Island’ with a great set and props made by the youth members themselves. The Youth Company then followed
Page 2
Medway Little Theatre Ltd (A company limited by guarantee)
Chairman's statement (continued) For the year ended 31 August 2020
this up in February, using the timing of Valentine’s day, to perform three love themed productions from the Bard – ‘Romeo and Juliet’, ‘The Taming of the Shrew’, and ‘Much ado about Nothing’ under the umbrella title of ‘In love with Shakespeare’, over a period of three nights.
Three weeks later our Children’s Workshop took on two one act plays ‘3 Nil down’ by Jonathan Edgington and ‘Smugglers’ by Geoff Bamber, which turned out to be the last live show we were able to put on before having to close.
Unfortunately, due to the pandemic, the Youth Section had to miss out on the opportunity to travel to Gibraltar on their annual cultural visit to participate in the drama workshop with the Bayside School there and to join the Cultural services team who invite them to perform in the Drama Festival.
We have nevertheless maintained a programme of social media and Facebook content and zoom workshops to keep our youth mentally stimulated and engaged in creative projects. We have also been devising new work with ex youth members who now work with Frantic Assembly, and puppetry with Frank Oz productions, as well as keeping them abreast of productions available for free and workshops from external companies like Disney and Warner Brothers.
My thanks to our Youth Group leaders, Kerrie Thompson, Kerrie Owens, Kairn Bignall and Carol Scott for keeping the youth flag flying.
So, what else have we been able to do this last year?....Well closure allowed scheduled electrical inspection, improvements and subsequent certification to take place without impinging on any activity which would otherwise have been taking place. This was completed in May/June last year and means that the theatre, including the cottage and workshop, are all up to the latest electrical standards. Also our security and alarm systems are now under service contract and receive routine inspection and testing. My thanks to our stage director, Mic Aldington, with the help of Andrew Coulson for arranging and co-ordinating the work to take place. Mic and Andrew have also been PAT testing lights etc. at the theatre, although this had to pause due to the latest lockdown, but will resume once restrictions have eased.
Unfortunately the Covid 19 restrictions put paid to demonstrations of LED lighting for the Theatre, but this does not mean that investigations have stopped. As soon as restrictions are reduced enough, demonstrations will be arranged, and then plans can be made to gradually introduce LED lighting, this being the way forward for theatre lighting.
With regard to the intended maintenance and improvement of the exterior of the theatre last year, this did not happen owing to the restrictions and vagueness of what you were and were not allowed to do, but hopefully we can start this in the summer. Ladies will be pleased however that the draughty louvered window in one of the ladies’ toilets has been replaced by a new one that actually shuts, thanks to Del de Lorme, our house manager. He has also installed a new chiller, well new to us, behind the bar to replace the existing one which had expired, and there is also a second chiller to be installed at some point. A leaky sink trap and leaking water heater under the bar sink have also been replaced. Thank you Del for arranging this.
Talking of the bar, we have purchased a ‘SumUp’ machine to enable us to take contactless payments once we can open the bar again. No doubt, once Covid restrictions have been relaxed sufficiently, we will be able to trial this on our Tuesday social nights, socially distanced of course, at least to begin with.
Just to mention at this point that weekly checks on the theatre have been made, for the most part by Paul Tomkies and myself, and I am pleased to say that apart from some unwelcome graffiti on the outside of the building and the leaks under the bar sink referred to above, the theatre has fared pretty well whilst empty.
Page 3
Medway Little Theatre Ltd (A company limited by guarantee)
Chairman's statement (continued) For the year ended 31 August 2020
Moving on to MLT membership, Cazz Wrate, our new membership secretary, with management approval has brought us into the twenty first century by introducing an online membership system - membermojo. This has proved much more efficient and cost effective as it means we can now contact more people by email...saving on postage. Members are also able to manage their own information to keep us updated of any changes such as email and address.
Both Cazz and I would like to thank members most heartily for their cooperation in moving to the new system. We expect everyone to see the full benefits once we are fully open once again. I would also like to thank Cazz for all the hard work she has put in into getting the new system up and running.
Don’t worry, for those of you who do not have online access or would rather not be contacted by e.mail, we will continue to contact you by post.
One last note on membership, because the theatre has been unable to open since last March owing to the Covid restrictions, and we had only been able to deliver just over half a season to that point, the management committee decided to extend existing membership and not collect any membership fees last year. Once the theatre is fully open again and the time is felt appropriate, members will then be contacted to renew their membership.
Over the last year the management committee have continued having monthly meetings on Zoom, and briefly in the theatre last summer when we could, just keeping ourselves up to date and discussing what we might be able to do when we can open. Thank you to Tori Hayhow, our Members Rep, for taking notes in those early meetings, and my thanks to all the committee members for their continued support and for agreeing to carry on their roles. Special thanks to Chris Hynd, our Treasurer, whose role has continued throughout…..Well, someone has to pay the bills! Chris also applied for and successfully obtained the small business grant on offer from the government at the beginning of the lockdown last year as well as obtaining a small business rates refund towards the end of the year. This has all helped to make up for the lack of income over the year and so a big thank you Chris for achieving this.
Unfortunately, our accountant for the past few years, Laura Gillespie, is no longer able to act for us owing to other work commitments. We have therefore recently appointed local accountants, Kreston Reeves, in replacement, chosen for their advertised area of expertise in acting for charities. My thanks to Laura for acting for us in the past and my thanks again to Chris for bringing the new accountants on board and liaising with them over the past few weeks to get our 2020 accounts ready. Chris, what would we do without you?
We have also co-opted a new secretary onto the committee, Kerrie Thompson our Youth Leader, who has gamely taken on the role from Chris Hynd, who in turn had been doubling up as both Treasurer and Company Secretary since our long serving secretary, Maggie Coleman, stepped down from the role at the 2018 AGM. My most grateful thanks to Chris (yes, Chris again!) for juggling two roles in the interim period. Thank you too Kerrie for stepping in and for setting up and coordinating our Zoom meetings over the past year. It’s good to have you on board.
So, what does the rest of 2021 hold for us? This of course will depend on how the roadmap out of lockdown pans out. Hopefully after 17th May socially distanced rehearsals for our next livestream production can move into the theatre and in due course, we can present this to you. As to when we can invite an audience back into the theatre, I feel that it will be some considerable time before we can do so. The very nature of our building makes social distancing a considerable challenge. Not only do we have to think of the safety of our audience, but also our front of house staff, as well as our actors, backstage staff and technicians. A lot to consider and plan for, including what Covid safety precautions we need to put in place, but this is what we will be doing over the next few months. Not wanting to finish on a downward note however, hopefully we can put on at least one production in the theatre by the end of the year, and beforehand, in the summer, reintroduce our Tuesday social nights – socially distanced of course!
Finally, although some of their roles have been curtailed over the last year, I would like to thank Mike Dickinson, our publicity manager, Elaine Thomas, our wardrobe mistress, Dawn Jones, our front of house manager and Maggie Coleman, who arranges our bar and front of house staff rotas as well as sending out our newsletters and notifications. Additionally, I would like to thank all those members and stalwarts of the theatre not mentioned who
Page 4
Medway Little Theatre Ltd
(A company limited by guarantee)
Chairman's statement (continued) For the year ended 31 August 2020
have continued to give us their support.
I certainly hope that covers everything. I have to say, I wasn’t expecting to write ‘War and Peace’, and so if you have managed to get this far, my congratulations to you.
I wish you all well and I hope very much that we can all meet up again in the not too distant future.
Chris Loft
Chairman Date: 30 March 2021
Page 5
Medway Little Theatre Ltd
(A company limited by guarantee)
Trustees' report For the year ended 31 August 2020
The Trustees present their annual report together with the financial statements of the charity for the year ended 31 August 2020. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
The stated objectives of the charity are 'to advance education by the provision of a theatre and facilities for dramatic performances and exhibitions of art.'
To expand upon this, we provide an educational venue for people within the Medway Towns and Kent. In general, we offer an opportunity to participate in all the functions required to present a production and learn about other performance-based events, including newly written, devised work and introducing unknown artists. We also provide a forum and educational platform for youth involvement in a real theatre context which gives them a chance to learn life skills as well as encouraging them to participate in all aspects of theatre, in acting, stage craft and administration and production.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Strategies for achieving objectives
In the furtherance of these objectives a number of activities are generally undertaken.
Our members perform in and support the production of a balanced selection of six plays each year that are performed mainly by the Adult Group. An additional three events are staged by our younger members. We also make the theatre available to other groups and events and we host a one act play festival each year with an adult and a youth section that gives other groups both local to Medway and further afield the opportunity to perform in a real theatre and to make use of the facilities provided. The theatre has 96 seats and the six main productions run for 11 nights including 2 Charity Previews.
Based in Rochester in the Medway Towns we have a wide catchment area for members and audience alike. The plays are selected by a Production Committee based on the suggestions of members and a proportion of the plays selected will provide challenges for acting members and aim to educate as well as entertain our audiences.
The theatre is largely self-supporting through ticket sales and refreshments. Sometimes extra funding is sought for larger projects through grants or extra fundraising activities.
Affordability and access to our theatre is important to us and ticket prices are set at an affordable level while generally ensuring that running costs are covered. All box office profits are ploughed back into the running of the theatre. Membership fees are also low to encourage and enable participation.
We endeavour to encourage all within our community to take part in our activities and to attend our theatre either as audience members or participants by advertising through our website and other media. The drama we provide is to be enjoyed by all from those attending local schools or the higher education colleges through to the older residents that form the core of our audience members.
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Medway Little Theatre Ltd (A company limited by guarantee)
Trustees' report (continued) For the year ended 31 August 2020
Objectives and activities (continued)
This year our usual programme was curtailed by pandemic restrictions, so we’ve had to look at new ways of achieving our objectives, such as a Play on the Radio Festival in place of the One Act Play Festival and the livestreaming of a one act play. It might be possible to include some of these new strategies going forward.
Youth Sections
An important part of our commitment to education is our two youth sections. Medway Little Theatre's commitment to young people has a long history, having been founded in 1964. At a time when there was little provision in the Medway Towns for young people keen on theatre, between leaving school and working with our main company.
The Youth Company is involved in a wide range of productions from visits to the Edinburgh Festival Fringe and the Gibraltar One Act Play Festival which over the years has provided hundreds of young people with an experience of the theatre which has undoubtedly enriched their lives. Some of our youth members have progressed to become leaders with enthusiasm and commitment – bringing back their experiences from Drama School and further education.
Workshops take place on different aspects of the theatre world from acting, performing arts, improvisation, devising, text work, theatre styles, film, stage combat, mime, and a whole lot more besides. We actively encourage our members to learn the basics of stage management, lighting, and sound design.
Our weekly workshops for the Children's Workshop are for younger members aged seven to twelve, where we explore self-confidence, vocal, literacy, team and problem-solving skills but emphasising the fun. Our Youth Company expands on these elements. Our youth sections stage an annual show each and a combined Youth Extravaganza once a year, as well as participating in adult shows, the theatre's own Duncan Rand One Act Play Festival and an exchange programme to Gibraltar for an educational and cultural exchange. The MLT youth sections aim to provide an exciting and imaginative look at the creative world of theatre and gives young people a chance to form new friendships, gain in self-confidence and to have fun whilst learning.
Other Activities
External bookings are looked at on a case by case basis including professional touring performances depending on our own programme, however this is already well catered for by larger theatres in the area.
While exhibitions of Art form part of our objectives the growth of small specialist exhibition venues in the local area has diminished this element of our activities. We will look at developing this side of our venue.
c. Activities undertaken to achieve objectives
As well as presenting a programme of plays, some of which aim to challenge our actors and bring something new to our local audience, we collaborate with other local charities by selling the first two nights of our main productions as 'Charity Previews' whereby the Charity pays a set amount for the evening and can sell tickets to their supporters for their chosen ticket price. This is beneficial to us in providing the actors with an audience for the opening of the run and has the added benefit of introducing new people to the theatre. A popular play can also raise valuable funds for the purchasing charity.
d. Main activities undertaken to further the charity's purposes for the public benefit
Our outreach programme spearheaded by the youth sections includes interacting with local residential homes and care facilities and participating in cultural and diverse projects. This would include working with practitioners and groups in other genres of the arts including the spoken word, dance, singing and music.
Page 7
Medway Little Theatre Ltd (A company limited by guarantee)
Trustees' report (continued) For the year ended 31 August 2020
Achievements and performance
a. Main achievements of the charity
Three adult and three youth productions took place before lockdown began but some of the main achievements of the charity this year have been the events held during the Covid pandemic.
The theatre successfully ran a One Act Radio Play festival that encouraged 25 groups to enter and explore their creative side. We have been asked to provide support and templates for the Kent Drama Association to run a similar Kent wide Festival.
Performed a spoken word production with published authors Sam Rapp and Lemn Sissay. This was a thrilling opportunity for our youth members.
Received acknowledgement that our Youth leader was nominated for her volunteer role with Pride in Medway 2020.
An experimental pilot of A Jolly Sinister Jape by Elliot Strange was successfully performed with the actors socially distanced and the performance live-streamed to a home based audience. We intend to further develop our live-stream offerings when a lifting of restrictions will allow this again.
Financial review
a. Review of the year
The cancellation of three adult productions and the Duncan Rand One Act Play Festival has had a significant impact on our finances this year. This impact has been minimised by the natural reduction of outgoings caused by not producing plays, a small business grant of ten thousand pounds from the government and small business rates relief. Some other running costs have been reduced but a number of bills remain the same and there was considerable expenditure on necessary electrical work during the year. The decision was made to immediately refund money for tickets purchased in advance for the cancelled plays in order to retain the good will of our patrons and membership fees have been suspended since the closure of the theatre due to COVID-19 restrictions.
Despite the lack of income, we have sufficient resources to keep us going for a few years at the current rate of spending. We are more fortunate than theatres that need to pay rent and wages. Let us hope that it won’t be too long before we will be welcoming members and audiences back into the theatre.
b. Reserves policy
Reserves are needed to bridge the gap between the spending and receiving of income and to cover unplanned emergency repairs and other expenditure. The trustees consider that reserves of £50,000 should be maintained. This represents approximately one year's expenditure and should enable the charity to continue operating.
Current reserves amount to £113,694 which exceeds the trustees' policy and will enable the charity to continue through the current pandemic without additional fundraising being necessary.
Designated funds, which comprise the fixed asset fund, total £43,508 at the balance sheet date.
c. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
Page 8
Medway Little Theatre Ltd (A company limited by guarantee)
Trustees' report (continued) For the year ended 31 August 2020
Structure, governance and management
a. Constitution
Medway Little Theatre Ltd is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.
b. Methods of appointment or election of Trustees
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association.
c. COVID-19
We have had to close the theatre in response to the government restrictions and to take into account the required safety measures. It was important for us to work safely and support the health and wellbeing of our cast and crew during the COVID-19 pandemic and not contribute to the spread of the virus. Coronavirus struck in March 2020, with devastating results, seeing the final three adult productions of the season, and Duncan Rand 2020, being cancelled. The season started well with Blithe Spirit achieving over 90% attendance but ended on just 43% overall as the theatre was forced into compulsory darkness. Sadly, the charities that partnered with us this year suffered too, as just two plays were able to sell their previews. Mailchimp subscribers have increased to 1,145 so this will be a good way of updating people when we are able to reopen. TicketSource, our online booking facility, has various Covid-Safe procedures for bookings to help us adhere to any social-distancing restrictions in the relevant government guidelines. However, we will need to consider the financial viability of a socially-distanced audience in our small theatre and may need to look at continued live-streaming and outside productions.
We have made regular checks on the theatre and carried out maintenance when necessary as well as trying to stay connected with members through a virtual and social media programme.
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the charity for the purposes of company law) are responsible for preparing the Trustees' 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 Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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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 adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and 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.
Page 9
Medway Little Theatre Ltd
(A company limited by guarantee)
Trustees' report (continued) For the year ended 31 August 2020
Approved by order of the members of the board of Trustees and signed on their behalf by:
Christopher Loft
Date: 30 March 2021
Page 10
Medway Little Theatre Ltd
(A company limited by guarantee)
Independent examiner's report
For the year ended 31 August 2020
Independent examiner's report to the Trustees of Medway Little Theatre Ltd ('the charity')
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 August 2020.
Responsibilities and basis of report
As the Trustees of the charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.
Signed:
Dated: 1 April 2021
S Robinson BA FCA FCIE DChA MCMI
Kreston Reeves LLP
Chartered Accountants
Chatham Maritime
Page 11
Medway Little Theatre Ltd
(A company limited by guarantee)
Statement of financial activities (incorporating income and expenditure account) For the year ended 31 August 2020
| Note Income from: Donations and legacies 3 Charitable activities 4 Investments 5 Total income Expenditure on: Charitable activities Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2020 £ 16,011 23,078 172 39,261 37,370 37,370 1,891 155,311 1,891 157,202 |
Total funds 2020 £ 16,011 23,078 172 39,261 37,370 37,370 1,891 155,311 1,891 157,202 |
Total funds 2019 £ 24,575 44,394 135 |
|---|---|---|---|
| 69,104 | |||
| 50,310 | |||
| 50,310 | |||
| 18,794 | |||
| 136,517 18,794 |
|||
| 155,311 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 14 to 22 form part of these financial statements.
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Medway Little Theatre Ltd (A company limited by guarantee) Registered number: 01526454
Balance sheet As at 31 August 2020
| Note Fixed assets Tangible assets 9 Current assets Debtors 10 Cash at bank and in hand Creditors: amounts falling due within one year 11 Net current assets Total net assets Charity funds Unrestricted funds 12 Total funds |
10,268 105,039 115,307 (1,613) |
2020 £ 43,508 43,508 113,694 157,202 157,202 157,202 |
6,248 108,739 114,987 (4,390) |
2019 £ 44,714 |
|---|---|---|---|---|
| 44,714 110,597 |
||||
| 155,311 | ||||
| 155,311 | ||||
| 155,311 |
The charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
Chris Hynd
Date: 30 March 2021
The notes on pages 14 to 22 form part of these financial statements.
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Medway Little Theatre Ltd (A company limited by guarantee)
Notes to the financial statements For the year ended 31 August 2020
1. General information
Medway Little Theatre Limited is a charitable company registered in England. Its principal office is 256 St Margarets Banks, High Street, Rochester, Kent ME1 1HY.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Medway Little Theatre Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Going concern
The Trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the Charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the Charity's ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Whilst the impact of the COVID-19 pandemic has been assessed by the Trustees, so far as is reasonably possible, due to its unprecedented impact on the worldwide economy it is difficult to evaluate with any certainty the potential outcomes on the Charity's future activities. However, taking into consideration the Charity's level of reserves, the Trustees believe that the Charity will be able to continue in operational existence for the foreseeable future.
2.3 Income
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the charity, can be reliably measured.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
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Medway Little Theatre Ltd (A company limited by guarantee)
Notes to the financial statements For the year ended 31 August 2020
2. Accounting policies (continued)
2.4 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 and the amount of the obligation can be measured reliably.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.5 Government grants
Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the Statement of financial activities as the related expenditure is incurred.
2.6 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 institution with whom the funds are deposited.
2.7 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Freehold property is not depreciated.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following basis:
Fixtures and fittings - 10%
2.8 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.9 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
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Medway Little Theatre Ltd (A company limited by guarantee)
Notes to the financial statements For the year ended 31 August 2020
2. Accounting policies (continued)
2.10 Liabilities
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
2.11 Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.12 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
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Medway Little Theatre Ltd (A company limited by guarantee)
Notes to the financial statements For the year ended 31 August 2020
3. Income from donations and legacies
| Donations Legacies Membership subscriptions Government grants |
Unrestricted funds 2020 £ 5,241 - 770 10,000 16,011 |
Total funds 2020 £ 5,241 - 770 10,000 16,011 |
Total funds 2019 £ 11,167 10,000 3,408 - |
|---|---|---|---|
| 24,575 |
4. Income from charitable activities
| Box Office / Production Room hire Investment income Bank interest receivable |
Unrestricted funds 2020 £ 23,078 - 23,078 Unrestricted funds 2020 £ 172 |
Total funds 2020 £ 23,078 - 23,078 Total funds 2020 £ 172 |
Total funds 2019 £ 44,144 250 |
|---|---|---|---|
| 44,394 | |||
| Total funds 2019 £ 135 |
5. Investment income
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Medway Little Theatre Ltd (A company limited by guarantee)
Notes to the financial statements For the year ended 31 August 2020
6. Analysis of expenditure by activities
| Box Office / Productions Total 2019 |
Activities undertaken directly 2020 £ 30,859 44,337 |
Support costs 2020 £ 6,511 5,973 |
Total funds 2020 £ 37,370 50,310 |
Total funds 2019 £ 50,310 |
|---|---|---|---|---|
Analysis of direct costs
| Production costs Promotion and publicity costs Rent, rate, insurance, fire, pest and rubbish Repairs Heat and light Box office costs Sundry expenses and cleaning |
Charitable activities 2020 £ 6,566 2,306 1,853 9,815 3,347 4,694 2,278 30,859 |
Total funds 2020 £ 6,566 2,306 1,853 9,815 3,347 4,694 2,278 30,859 |
Total funds 2019 £ 11,642 2,552 10,932 4,793 4,246 6,111 4,061 |
|---|---|---|---|
| 44,337 |
Analysis of support costs
| Depreciation Bank charges Accountancy and independent examination fees Telephone Postage and stationery |
Charitable activities 2020 £ 2,961 471 1,560 1,439 80 6,511 |
Total funds 2020 £ 2,961 471 1,560 1,439 80 6,511 |
Total funds 2019 £ 3,095 810 550 1,147 371 |
|---|---|---|---|
| 5,973 |
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Medway Little Theatre Ltd (A company limited by guarantee)
Notes to the financial statements For the year ended 31 August 2020
7. Independent examiner's remuneration
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Fees payable to the charity's independent examiner for the independent | ||
| examination of the charity's annual accounts | 1,560 | 550 |
8. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2019 - £NIL).
During the year ended 31 August 2020, expenses totalling £41 were reimbursed or paid directly to 2 Trustees (2019 - £Nil). All expenses related to travel costs.
9. Tangible fixed assets
| Cost or valuation At 1 September 2019 Additions At 31 August 2020 Depreciation At 1 September 2019 Charge for the year At 31 August 2020 Net book value At 31 August 2020 At 31 August 2019 |
Freehold property £ 16,860 - 16,860 - - - 16,860 16,860 |
Fixtures and fittings £ 50,091 1,755 51,846 22,237 2,961 25,198 26,648 27,854 |
Total £ 66,951 1,755 |
|---|---|---|---|
| 68,706 | |||
| 22,237 2,961 |
|||
| 25,198 | |||
| 43,508 44,714 |
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Medway Little Theatre Ltd (A company limited by guarantee)
Notes to the financial statements For the year ended 31 August 2020
10. Debtors
| Due within one year Other debtors Prepayments and accrued income |
2020 £ 7,438 2,830 10,268 |
2019 £ 6,248 - |
|---|---|---|
| 6,248 |
11. Creditors: Amounts falling due within one year
| Trade creditors Other creditors Accruals and deferred income |
2020 £ 53 - 1,560 1,613 |
2019 £ 3,150 1,240 - |
|---|---|---|
| 4,390 |
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Medway Little Theatre Ltd (A company limited by guarantee)
Notes to the financial statements For the year ended 31 August 2020
12. Statement of funds
Statement of funds - current year
| Balance at | Balance at | 1 | 1 | Balance at | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| September | Transfers | 31 August | ||||||||
| 2019 | Income | Expenditure in/out |
2020 | |||||||
| £ | £ | £ £ |
£ | |||||||
| Unrestricted funds | ||||||||||
| Designated funds | ||||||||||
| Fixed asset fund | - | - | - | 43,508 | 43,508 | |||||
| General funds | ||||||||||
| General fund | 155,311 | 39,261 | (37,370) (43,508) |
113,694 | ||||||
| Total Unrestricted funds | 155,311 | 39,261 | (37,370) - |
157,202 | ||||||
| The designated fixed asset fund represents the net book value | of the charity's fixed assets. | |||||||||
| Statement of funds - prior year | ||||||||||
| Balance at | Balance at | |||||||||
| 1 September | 31 August | |||||||||
| 2018 | Income Expenditure |
2019 | ||||||||
| £ | £ £ |
£ | ||||||||
| Unrestricted funds | ||||||||||
| General fund | 136,517 | 69,104 (50,310) |
155,311 | |||||||
| Analysis of net assets between funds | ||||||||||
| Analysis of net assets between funds - current period | ||||||||||
| Unrestricted | Total | |||||||||
| funds | funds | |||||||||
| 2020 | 2020 | |||||||||
| £ | £ | |||||||||
| Tangible fixed assets | 43,508 | 43,508 | ||||||||
| Current assets | 115,307 | 115,307 | ||||||||
| Creditors due within one year | (1,613) | (1,613) | ||||||||
| Total | 157,202 | 157,202 |
13. Analysis of net assets between funds Analysis of net assets between funds - current period
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Medway Little Theatre Ltd (A company limited by guarantee)
Notes to the financial statements For the year ended 31 August 2020
13. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior period
| Tangible fixed assets Current assets Creditors due within one year Total |
Unrestricted funds 2019 £ 44,714 114,987 (4,390) 155,311 |
Total funds 2019 £ 44,714 114,987 (4,390) |
|---|---|---|
| 155,311 |
14. Related party transactions
The charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the charity at 31 August 2020.
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