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 2025
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 - 3 |
| Trustees' report | 4 - 8 |
| Independent examiner's report | 9 |
| Statement of financial activities | 10 |
| Balance sheet | 11 |
| Notes to the financial statements | 12 - 20 |
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 2025
| Trustees | David Aldington |
|---|---|
| Roderic De Lorme | |
| Michael Dickinson | |
| Victoria Hayhow (resigned 11 March 2025) | |
| Chris Hynd | |
| Christopher Loft | |
| Kerensa Thompson | |
| Carol Wrate (appointed 11 March 2025) | |
| Dr Christopher Parnell (resigned 10 August 2025) | |
| David Alan Wilson (appointed 20 April 2025) | |
| Company registered number 01526454 Charity registered number 1056994 Registered office 256 St Margarets Banks High Street Rochester Kent ME1 1HY Accountants Kreston Reeves LLP Maritime Place Quayside Chatham Maritime Chatham Kent ME4 4QZ Independent Examiner Samantha Rouse FCCA DChA Kreston Reeves LLP 2nd Floor, Maritime Place Quayside Chatham Kent ME4 4QZ |
Page 1
Medway Little Theatre Ltd (A company limited by guarantee)
Chairman's statement For the year ended 31 August 2025
The chairman presents his statement for the year.
I am writing as the current Chair following the resignation of Dr Chris Parnell in August 2025. I would like to express my gratitude for his efforts in guiding MLT as an active member and during his tenure as Chair of MLT and Production Committee. Chris recently starred in a production of The Rivals and we look forward to seeing him on stage again soon.
The 2024/25 season was highly successful with consistently good to excellent audience numbers. We also hosted a number of external productions and music events, providing a diverse range of cultural experiences for our loyal audiences and the Medway and Kent area.
The Youth section has presented a range of productions and is fortunate to have talented members who we hope will develop and strengthen as they transition to join the adult productions. This year has seen the introduction of an Improv Night once a month, which has been very popular with both the audience and members.
The number of ticketed events has increased over the year and Kate Brookes (Box Office) and Elaine Thomas (Wardrobe) have managed the changes as necessary. We thank them for their dedication to these critical roles. We intend to increase the number of planned productions for the coming season by providing a slot for some original writing. We look forward to reviewing the success of this initiative in due course.
I have the pleasure of reporting on the Duncan Rand One Act Play Festival. This was a success once again, with all the groups involved demonstrating the range of talent both locally and internationally. We extend our thanks to Kerrie and Derek Thompson, along with Kairn Bignall and Reiss Foley for their contributions to this event.
Our organisation would not function without the dedication and energy of our volunteers who have shown commitment and passion for our theatre and the cultural life of our community. We are grateful to everyone involved.
Every production or event requires the commitment of members to run the bar and front of house. These roles need to be organised and we rely on Chris Loft and Dawn Jones to co-ordinate, persuade and train the volunteers. This is a critical position and we are very grateful.
We have completed a major technical upgrade across the theatre, which has been made possible by the generous bequest from Andrew Coulson, a long-term member. We are dedicating the control room to him. This has been a long-term project and Mike Aldington and Chris Ostler have worked systematically through the building.
The fabric of the buildings is now becoming a major concern for repair work. We have revisited the original report and are awaiting a contractor’s report with estimates and timescales. This is likely to be a considerable cost and will require close management supervision. We thank Del de Lorne for the repair and maintenance he has done to keep our building functioning and safe.
My personal thanks go to the entire management team for their ongoing support and commitment. Every member of this team gives of their time and effort. Without them the theatre would not be the vibrant and creative environment it is. We welcome Adam Wigmore as chair of the Production Committee.
We are reviewing our organisation structure in the coming period and will report back on any proposed changes. I am working with Chris Hynd as our Treasurer and Cazz Wrate as Secretary, who have spent many days reviewing paperwork to determine the most suitable structure for us all. This will be an ongoing process but we hope to present a clear recommendation to the membership.
We have faced several challenges in the past year but MLT will continue to operate and hopefully will remain a safe space for creative individuals to develop and entertain.
Page 2
Medway Little Theatre Ltd
(A company limited by guarantee)
Chairman's statement (continued) For the year ended 31 August 2025
Our thanks go to all the members I have not been able to mention specifically. Without their contributions MLT would not be the welcoming and active safe space we have come to value.
David Wilson Chairman Date:
Page 3
Medway Little Theatre Ltd
(A company limited by guarantee)
Trustees' report For the year ended 31 August 2025
The Trustees present their annual report together with the financial statements of the charity for the year ended 31 August 2025. 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 where we offer them 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 variety of activities are generally undertaken.
Based in Rochester in the Medway Towns we have a wide catchment area for members and audience alike. Plays for the Medway Little Theatre season 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.
We present at least five adult plays, three plays from the Youth Sections and the Duncan Rand One Act Play Festival. We continue to welcome and look to increase the number of community events and external bookings which increase revenue, introduce new audiences to Medway Little Theatre and foster better links with the local community.
The Box Office Manager has worked hard to revive the connections we have with other local charities and we have restarted the option to buy charity preview nights for our adult productions. The whole house is sold to a charity at a bargain rate and the purchasing charity raises some funds by selling the tickets to their supporters. The production gets a final dress rehearsal with an audience and the purchasing charity gets a fundraiser.
Medway Little Theatre is a member of the Little Theatre Guild of Great Britain and on the 5th October 2024 we hosted the one-day LTG Southern Conference for the first time. It was a successful and enjoyable event with representatives from many of the Southern member theatres.
Page 4
Medway Little Theatre Ltd (A company limited by guarantee)
Trustees' report (continued) For the year ended 31 August 2025
Objectives and activities (continued)
Youth Sections
There is little provision in the Medway Towns for young people keen on theatre. Since 1964, Medway Little Theatre has striven to support our two growing youth sections with a sense of responsibility to nurture raw talent and add to the theatre’s members of the future.
Our weekly workshops for the Children's Workshop are for younger members aged seven to twelve. These sessions allow youngsters to explore self-confidence, vocal skills, literacy, team-work and critical thinking skills with an emphasis on fun.
Our Youth Company for ages twelve to eighteen expands on these elements. We support youngsters in a wide range of productions each year, from visits to the Gibraltar One Act Play Festival, outreach work with Child Friendly Medway and Pretending People, and entries into the Kent Drama Association’s Full-length play festival.
Workshops are often based around the various aspects of the theatre world, from basic skills of acting, 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, set building, prop making and sound design, and the introduction of singing lessons has proven to boost confidence.
Over the years, this has provided hundreds of young people with an experience of the theatre which has undoubtedly enriched their lives. Two of our old youth members have returned from drama school or further education to progress to become leaders with enthusiasm and commitment – bringing back their experiences and enriching our work.
Our youth sections each stage an annual show 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. This year, members of the Youth Company have written and produced additional black box pop-up productions that have been staged at MLT.
In the last twelve months, there has been a significant increase in local SENs and homeschooled youngsters being signposted to the MLT youth sections. It is an opportunity for those youngsters to engage in an exciting, imaginative, creative world of theatre and gives young people a chance to form new friendships, gain in selfconfidence and to have fun whilst learning. We endeavour to stand by Medway Little Theatre’s ethos of inclusion.
Other Activities
We have a weekly social night for members so that they can keep up to date with our activities. We can also welcome people in to have a tour of the theatre and many will join after viewing our facilities. There are not many amateur groups in the area who have their own theatre building. This gives volunteers not only the opportunity to act but to also take part in the backstage and technical elements of a theatre. It also offers opportunities for people to use their skills to manage and maintain the building.
Page 5
Medway Little Theatre Ltd (A company limited by guarantee)
Trustees' report (continued) For the year ended 31 August 2025
Objectives and activities (continued)
c. Activities undertaken to achieve objectives
Productions offered by MLT during the 2024/25 Financial Year were as follows :-
The Lion in Winter - a play performed by the adult company with youth involvement; Romanov and Lupinette - a play devised and performed by both of our youth sections; It’s a Wonderful Life – a play performed by the adults company with youth involvement; Hope Springs – a play performed by youth members with adult members; Improbable Fiction – a play performed by the adult company; Children’s Workshop – two one act plays performed by our youngest members; Accidental Death of an Anarchist – a play performed by the adult company; When the Wind Blows – a play performed by the adult company; A Bus Stop – A Youth Group Fundraiser and The Duncan Rand One Act Play Festival – a competition for youth and adult drama groups.
External bookings/collaborations included a pantomime, a murder mystery, local and international bands, book/DVD/Album launches, a free community event for children and the hosting of the LTG Southern Conference.
Regular events comprise a Tuesday evening Club Night for members, with prospective members invited to come and see the theatre; a weekly Saturday morning workshop session for Youth members; a weekly Saturday afternoon workshop session for the Children’s Workshop and rehearsals scheduled across the week, as necessary. We have recently begun a monthly ‘Improv’ night which gives our actors a chance to find their funny bones. This year we opened our doors to a group from the University of the Third Age who entertained us with a rehearsed play reading.
d. Main activities undertaken to further the charity's purposes for the public benefit
Our main activities undertaken to further the charity’s purposes for the public benefit are the plays that we produce that give local people the opportunity to enjoy theatre locally at an affordable price – either as a member or in the audience.
Our youth leaders have facilitated a collaboration with Child Friendly Medway to offer free theatre events to local children. This year Pretending People theatre company presented a workshop and several performances of a show based on Greek Myths. Both events gave the benefit of introducing children to a theatre environment.
Achievements and performance
a. Main achievements of the charity
As always, the main achievement of the charity in the 2024/25 Financial Year was to present a balanced and enjoyable season to our local audiences and to provide a platform on which other drama groups, local and international bands and other performers can offer their talent to the Medway area. Highlights were the bestseller It’s a Wonderful Life ’, the poignant ‘ When the Wind Blows '; the Youth and Children’s Workshop Productions, some of which involved writing by current and former youth members and the launch of our Improv Night – Whose Line is it Medway?
Page 6
Medway Little Theatre Ltd (A company limited by guarantee)
Trustees' report (continued) For the year ended 31 August 2025
Financial review
a. 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.
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 have taken a cautious approach with reserves since the Covid shutdown, retaining more than 24 months of anticipated basic expenditure in case of further disruption. However, they are also aware that major repairs to the building are in the pipeline so are reducing the reserves to £50,000 for the coming financial year. This still leaves a substantial amount over and above the reserves to make some inroads into building repairs.
Current reserves amount to £152,644 (2024: £132,515) which well exceeds the trustees' policy.
Designated funds, which comprise the fixed asset fund, total £47,322 (2024: £50,707) at the balance sheet date.
Restricted funds total £2,401 (2024: £4,959) at the balance sheet date.
c. Review of the year
This year has been a profitable one with the Christmas show ‘It’s a Wonderful Life’ doing particularly well. This will enable the theatre to keep ticket prices low in the coming year and fulfil our aim to provide affordable theatre to the people of Medway and beyond.
Audiences have returned to expected levels and interesting plays have attracted new members.
A combination of the conversion to LED lighting and a new fixed electricity deal has seen electricity costs reduce and a plan to simply our phone and broadband service should also reduce costs. This should offset some of the rising costs such as waste removal and water charges.
The technical crew continued to spend the money left by Andrew Coulson for improved technical equipment. The largest purchase this year was a new sound desk and associated equipment.
We currently have an excess of funds that can be used for improvements to the building, hopefully this will happen soon.
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.
Page 7
Medway Little Theatre Ltd
(A company limited by guarantee)
Trustees' report (continued) For the year ended 31 August 2025
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 . 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:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) 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 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.
Approved by order of the members of the board of Trustees and signed on their behalf by:
Chris Hynd
Date:
Page 8
Medway Little Theatre Ltd
(A company limited by guarantee)
Independent examiner's report
For the year ended 31 August 2025
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 2025.
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:
-
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: S M Rouse Dated: 10 March 2026
Samantha Rouse FCCA DChA
Kreston Reeves LLP
Maritime Place Quayside Chatham Maritime Chatham Kent ME4 4QZ
Page 9
Medway Little Theatre Ltd
(A company limited by guarantee)
Statement of financial activities (incorporating income and expenditure account) For the year ended 31 August 2025
| Note Income from: Donations and legacies 3 Charitable activities 4 Investments 5 Total income Expenditure on: Charitable activities Total expenditure Net income Transfers between funds 12 Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2025 £ 15,341 48,758 532 64,631 50,445 50,445 14,186 2,558 16,744 183,222 16,744 199,966 |
Restricted funds 2025 £ - - - - - - - (2,558) (2,558) 4,959 (2,558) 2,401 |
Total funds 2025 £ 15,341 48,758 532 64,631 50,445 50,445 14,186 - 14,186 188,181 14,186 202,367 |
Total funds 2024 £ 20,025 38,417 365 |
|---|---|---|---|---|
| 58,807 | ||||
| 48,675 | ||||
| 48,675 | ||||
| 10,132 - |
||||
| 10,132 | ||||
| 178,049 10,132 |
||||
| 188,181 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 12 to 20 form part of these financial statements.
Page 10
Medway Little Theatre Ltd
(A company limited by guarantee) Registered number: 01526454
Balance sheet As at 31 August 2025
| 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 Restricted funds: Restricted funds 12 Unrestricted funds 12 Total funds |
4,650 155,061 159,711 (4,666) 2,401 |
2025 £ 47,322 155,045 202,367 199,966 202,367 |
4,470 138,255 142,725 (5,251) 4,959 |
2024 £ 50,707 137,474 |
|---|---|---|---|---|
| 188,181 | ||||
| 183,222 | ||||
| 188,181 |
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:
The notes on pages 12 to 20 form part of these financial statements.
Page 11
Medway Little Theatre Ltd
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 August 2025
1. General information
Medway Little Theatre Limited is a charitable company registered in England, with the company registration number 01526454 and the charity number 1056994. 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.
The financial statements have been prepared in British Sterling and are rounded to the nearest Pound.
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.
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.
Page 12
Medway Little Theatre Ltd
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 August 2025
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 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.
2.6 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%
2.7 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.
2.8 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.
2.9 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.
Page 13
Medway Little Theatre Ltd (A company limited by guarantee)
Notes to the financial statements For the year ended 31 August 2025
2. Accounting policies (continued)
2.10 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.
2.11 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.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
3. Income from donations and legacies
| Donations Membership subscriptions Total 2024 |
Unrestricted funds 2025 £ 12,170 3,171 15,341 20,025 |
Total funds 2025 £ 12,170 3,171 15,341 20,025 |
Total funds 2024 £ 16,795 3,230 |
|---|---|---|---|
| 20,025 | |||
4. Income from charitable activities
| Box Office / Production Room hire |
Unrestricted funds 2025 £ 47,251 1,507 48,758 |
Total funds 2025 £ 47,251 1,507 48,758 |
Total funds 2024 £ 36,180 2,237 |
|---|---|---|---|
| 38,417 |
Page 14
Medway Little Theatre Ltd (A company limited by guarantee)
Notes to the financial statements For the year ended 31 August 2025
5. Investment income
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2025 | 2025 | 2024 | |
| £ | £ | £ | |
| Bank interest receivable | 532 | 532 | 365 |
6. Analysis of expenditure by activities
| Box Office / Productions Total 2024 |
Activities undertaken directly 2025 £ 43,526 41,601 |
Support costs 2025 £ 6,919 7,074 |
Total funds 2025 £ 50,445 48,675 |
Total funds 2024 £ 48,675 |
|---|---|---|---|---|
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 2025 £ 13,176 2,697 7,786 2,653 8,448 1,911 6,855 43,526 |
Total funds 2025 £ 13,176 2,697 7,786 2,653 8,448 1,911 6,855 43,526 |
Total funds 2024 £ 12,779 2,898 8,721 1,124 9,260 1,660 5,159 |
|---|---|---|---|
| 41,601 |
Page 15
Medway Little Theatre Ltd (A company limited by guarantee)
Notes to the financial statements For the year ended 31 August 2025
6. Analysis of expenditure by activities (continued)
Analysis of support costs
| Depreciation Accountancy and independent examination fees Telephone |
Charitable activities 2025 £ 3,385 2,214 1,320 6,919 |
Total funds 2025 £ 3,385 2,214 1,320 6,919 |
Total funds 2024 £ 3,761 2,094 1,219 |
|---|---|---|---|
| 7,074 |
7. Independent examiner's remuneration
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Fees payable to the charity's independent examiner for the independent | ||
| examination of the charity's annual accounts | 2,214 | 2,094 |
8. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2024 - £NIL).
During the year ended 31 August 2025, expenses totalling £6,623 were reimbursed or paid directly to 7 Trustees (2024 - £14,440 to 7 Trustees). All expenses are re-imbursements of money spent by the Trustees on behalf of Medway Little Theatre.
Page 16
Medway Little Theatre Ltd (A company limited by guarantee)
Notes to the financial statements For the year ended 31 August 2025
9. Tangible fixed assets
| Cost or valuation At 1 September 2024 At 31 August 2025 Depreciation At 1 September 2024 Charge for the year At 31 August 2025 Net book value At 31 August 2025 At 31 August 2024 |
Freehold property £ 16,860 16,860 - - - 16,860 16,860 |
Fixtures and fittings £ 70,722 70,722 36,875 3,385 40,260 30,462 33,847 |
Total £ 87,582 |
|---|---|---|---|
| 87,582 | |||
| 36,875 3,385 |
|||
| 40,260 | |||
| 47,322 | |||
| 50,707 |
10. Debtors
| Due within one year Other debtors Prepayments and accrued income |
2025 £ 1,743 2,907 4,650 |
2024 £ 2,212 2,258 |
|---|---|---|
| 4,470 |
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Medway Little Theatre Ltd (A company limited by guarantee)
Notes to the financial statements For the year ended 31 August 2025
11. Creditors: Amounts falling due within one year
| Trade creditors Accruals and deferred income Statement of funds Statement of funds - current year Balance at 1 September 2024 £ Unrestricted funds Designated funds Fixed asset fund 50,707 General funds General fund 132,515 Total Unrestricted funds 183,222 Restricted funds Legacy fund 4,959 Total of funds 188,181 |
Income £ - 64,631 64,631 - 64,631 |
Expenditure £ (3,385) (47,060) (50,445) - (50,445) |
2025 £ 2,034 2,632 4,666 Transfers in/out £ - 2,558 2,558 (2,558) - |
2024 £ 1,958 3,293 |
|---|---|---|---|---|
| 5,251 | ||||
| Balance at 31 August 2025 £ 47,322 |
||||
| Unrestricted funds Designated funds Fixed asset fund General funds General fund Total Unrestricted funds Restricted funds Legacy fund Total of funds |
||||
| 152,644 | ||||
| 199,966 | ||||
| 2,401 | ||||
| 202,367 |
12. Statement of funds
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Medway Little Theatre Ltd (A company limited by guarantee)
Notes to the financial statements For the year ended 31 August 2025
12. Statement of funds (continued)
Nature and purpose of designated funds
The designated fixed asset fund represents the net book value of the charity's fixed assets.
Nature and purpose of restricted funds
Legacy fund - In November 2022 Andrew Coulson, a much loved and respected member of our theatre, passed away. He was kind enough to leave us an amazing legacy of twenty thousand pounds with the stipulation that it should be spent on LED lamps for the theatre and other purchases that would enhance our technical capabilities or improve the lighting box space. Andrew’s good friend, fellow techie and a current Trustee, David (Mic) Aldington, was tasked with approving purchases made from this legacy. We have therefore declared this legacy a restricted fund.
During the current financial year, fixed assets were purchased of £nil. This value has been transferred to the designated fixed asset fund from the Legacy fund.
Statement of funds - prior year
| Unrestricted funds Designated funds Fixed asset fund General funds General fund Total Unrestricted funds Restricted funds Legacy fund Total of funds |
Balance at 1 September 2023 £ 44,565 118,622 163,187 14,862 178,049 |
Income £ - 58,807 58,807 - 58,807 |
Expenditure £ (3,761) (44,914) (48,675) - (48,675) |
Transfers in/out £ 9,903 - 9,903 (9,903) - |
Balance at 31 August 2024 £ 50,707 |
|---|---|---|---|---|---|
| 132,515 | |||||
| 183,222 | |||||
| 4,959 | |||||
| 188,181 |
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Medway Little Theatre Ltd (A company limited by guarantee)
Notes to the financial statements For the year ended 31 August 2025
13. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Tangible fixed assets Current assets Creditors due within one year Total Analysis of net assets between funds - prior year Tangible fixed assets Current assets Creditors due within one year Total |
Unrestricted funds 2025 £ 47,322 157,310 (4,666) 199,966 Unrestricted funds 2024 £ 50,707 137,766 (5,251) 183,222 |
Restricted funds 2025 £ - 2,401 - 2,401 Restricted funds 2024 £ - 4,959 - 4,959 |
Total funds 2025 £ 47,322 159,711 (4,666) |
|---|---|---|---|
| 202,367 Total funds 2024 £ 50,707 142,725 (5,251) |
|||
| 188,181 |
14. Related party transactions
During the year, one Trustee paid the Charity £38 for room hire (2024: the Charity received cumulative membership income of £200 from Trustees).
The charity has not entered into any other related party transactions during the year, nor are there any outstanding balances owing between related parties and the charity at 31 August 2025.
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