REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 FOR
VALE ROYAL MUSICAL THEATRE WITH VALE ROYAL JUNIORS
Middleton Wissett Chartered Certified Accountants 7 Kingfisher Grove Wincham Cheshire CW9 6PZ
VALE ROYAL MUSICAL THEATRE WITH VALE ROYAL JUNIORS
## REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020
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|Page|
|Report|of the Trustees|ito|2|
|Independent|Examiner's|Report|3|
|Statement|of|Financial|Activities|4|
|Balance|Sheet|5|
|Notes|to|the|Financial|Statements|6|to|8|
|Detailed Statement|of|Financial|Activities|9|
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VALE ROYAL MUSICAL THEATRE WITH VALE ROYAL JUNIORS
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020
## a
The trustees present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of 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 2015).
## OBJECTIVES AND ACTIVITIES
The charity was set up on 8th April 1997 and became a registered charity on 24th June 1997. It is governed by a constitution which was amended on 30 March 2009 and 23" April 2019. it's purposes are to educate the publicin the dramatic and operatic arts and to further develop the public appreciation of these arts.
## ACHIEVEMENT AND PERFORMANCE
Charitable activities The charity effectively did not trade during the year due to the lock down and other COVID-19 related problems.
## FINANCIAL REVIEW
investment policy and objectives The charity does not have an investment policy.
## Reserves policy
The policy of the charity is to retain a level of reserves sufficient to enable the charity to continue to operate for the short term. It is hoped that an unrestricted reserve of at least three months typical expenditure can be maintained.
The financial results for the year are shown in the receipts and payments account.
## STRUCTURE, GOVERNANCE AND MANAGEMENT
## Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
## Organisational structure
The strategic direction of the charity is governed by the trustees. The charity also has a management committee which assists.the trustees in running the charity. Members can elect committee members at the Annual General Meeting and these members serve for a period of two years.
## Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
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VALE ROYAL MUSICAL THEATRE WITH VALE ROYAL JUNIORS
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020 Stn BH Set ec HE gg TS a A greene
## REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number 1063054
Principal address The Gables Jack Lane Moulton Cheshire CW9 800A
Trustees Rebecca Jayne Benson Sally Ann Ross
Independent examiner Middleton Wissett Chartered Certified Accountants 7 Kingfisher Grove Wincham Cheshire CWS 6PZ
## PUBLIC BENEFIT
The charity's trustees have complied with the duty in section 4 of the 2006 Act to have due regard to public benefit guidance published by the Charity Commission.
Approved by order of the Board of Trustees on IS October 2021 and signed on their behalf by:
Trustee
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF VALE ROYAL MUSICAL THEATRE WITH VALE ROYAL JUNIORS
i |report on the accounts for the year ended 31 December 2020 set out on pages four to eight.
## Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required.
It is my responsibility to:
1. examine the accounts under Section 145 of the 2011 Act 2. to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and
3. to state whether particular matters have come to my attention.
## Basis of the independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statements below.
## independent examiner's statement
In connection with my examination, no matter has come to my attention:
- (1) which gives me reasonable cause to believe that, in any material respect, the requirements to keep accounting records in accordance with Section 130 of the 2011 Act; and to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met: or
- (2) to which, in my opinion, attention should be drawn to enable a proper understanding of the accounts to be reached.
## Graham Wood FCCA
Middleton Wissett Chartered Certified Accountants 7 Kingfisher Grove Wincham
Cheshire CW9 6PZ
[8 october 2021
## VALE ROYAL MUSICAL THEATRE WITH VALE ROYAL JUNIORS
## STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020
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|---|---|---|---|---|---|---|
|Unrestricted|Restricted|31/12/2020|31/12/2019|
|fund|fund|Total|funds|‘Total|funds|
|Notes|£|£|£|£|
|INCOME AND|ENDOWMENTS|FROM|
|Donations|and|subscriptions|1,772|3,827|5,599|10,170|
|COVID|19 Grant|10,000|10,000|20,000|0|
|Charitable|activities|
|Shows|and|performances|0|0|0|16,260|
|Other trading|activities|3|0|it)|0|4,980|
|Total|11,772|13,827|25,999|31,338|
|EXPENDITURE|ON|
|Charitable|activities|
|Shows|and|performances|2,266|9,760|12,026|39,407|
|NET INCOME/(EXPENDITURE)|9,488|4,067|13,573|(8,069)|
|RECONCILIATION|OF|FUNDS|
|Total funds|brought forward|12,998|6,727|19,725|27,794|
|TOTAL FUNDS CARRIED FORWARD|22,486|10,794|33,298|19,725|
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## CONTINUING OPERATIONS
All income and expenditure have arisen from continuing activities.
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VALE ROYAL MUSICAL THEATRE WITH VALE ROYAL JUNIORS
## BALANCE SHEET AT 31 DECEMBER 2020
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|---|---|---|---|---|---|---|---|---|
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|Unrestricted|Restricted|31/12/2020|31/12/2019|
|fund|fund|Totalfunds|Total|funds|
|Notes|£|£|£|£|
|CURRENT ASSETS|
|Cash|at|bank and|in|hand|22,505|10,793|33,298|19,725|
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|NET CURRENT ASSETS|22,505|10,793|33,298|19,725|
|TOTAL ASSETS|LESS|CURRENT|LIABILITIES|22,505|10,793|33,298|19,725|
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|NET ASSETS|22,505|10,793|33,298|19,725|
|FUNDS|7|
|Unrestricted|funds|22,505|12,998|
|Restricted|funds|10,793|6,727|
|TOTAL FUNDS|33,298|19,725|
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The financial statements were approved by the Board of Trustees on ( 6 October 2021 and were signed on their behalf by:
Trustee
The notes form part of these financial statements
VALE ROYAL MUSICAL THEATRE WITH VALE ROYAL JUNIORS
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020
Ls STATUTORY INFORMATION
The charity in an unincorporated charity. The presentation currency of the financial statements is the Pound Sterling (£).
he ACCOUNTING POLICIES
## Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, 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 2015)', Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. Vale Royal Musical Theatre meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost of transaction value unless otherwise stated in the relevant accounting policy notes(s).
Financial reporting standard 102 - reduced disclosure exemptions
The charity has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’: the requirements of Section 7 Statement of Cash Flows.
## income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received, and the amount can be measured reliably.
## Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources.
## Taxation
The charity is exempt from tax on its charitable activities.
## Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
VALE ROYAL MUSICAL THEATRE WITH VALE ROYAL JUNIORS
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020
## 3. SectOTHER TRADING ACTIVITIESrg et OT 31/12/2020 31/12/2019 £ £ Fundraising events 0 4,908
## 4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees’ remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.
## Trustees'expenses
There were no trustees’ expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.
## 5. MOVEMENT IN FUNDS
|||Asat|fie
movement|As at|
|---|---|---|---|---|
|||01/01/2020|in funds|31/12/2020|
|||£|£|£|
|Unrestrictedfunds|||||
|General fund||12,998|9,488|22,505|
|Restricted funds|||||
|Junior Section||6,727|4,067|10,793|
|TOTALFUNDS||19,725|13,573|33,298|
|Netmovement in funds, included in the above are as|||||
|follows:|||||
|||Incoming|Resources|Movement|
|||Resources|Expended|In Funds|
|||£|£||
|Unrestricted funds|||||
|General fund||11772|(2,266)|9,488|
|Restricted funds|||||
|Juniorsection||13,827|(9,760)|4,067|
|TOTAL FUNDS|;|25,599|(12,026)|13,573|
The Junior Section Fund represents the results of the Charity's Junior Section.
## 8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2020.
VALE ROYAL MUSICAL THEATRE WITH VALE ROYAL JUNIORS
## DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020
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|---|---|---|---|---|---|
|31/12/2020|31/12/2019|
|£|£|
|INCOME AND|ENDOWMENTS|
|Donations and|legacies|
|Donations|and|contributions|1,963|330|
|Members subscriptions|565|1,135|
|Patrons|subscriptions|ie)|100|
|Junior|subscriptions|2,630|8,605|
|NODA|Dinner|441|0|
|Covid|Grant|20,000|0|
|25,599|10,170|
|Other trading|activities|
|Fundraising|events|0|4,908|
|Charitable|activities|
|Junior section|shows|ie)|5,101|
|9to5|0|0|
|Robin|Hood|0|58|
|My|Fair Lady|0|7,918|
|Puss|in|Boots|0|2,639|
|Annie|0|544|
|0|16,260|
|TOTAL INCOMING|RESOURCES|25,599|31,338|
|EXPENDITURE|
|Charitable|activities|
|Rent|and|storage|costs|7,534|9,758|
|insurance|416|416|
|Accountancy fee|400|0|
|Stationary|74|199|
|Equipment|and|power|351|4,301|
|Miscellaneous|1,932|1,015|
|Royalties|228|0|
|My|Fair Lady|0|11,595|
|Puss|in|Boots|:|0|2,111|
|Annie|(565)|500|
|Wizard|of Oz|1,656|0|
|Junior shows|0|9,512|
|Total|resources expended|12,026|39,407|
|NET INCOME|4,067|(8,069)|
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