## **REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 FOR** **VALE ROYAL MUSICAL THEATRE WITH VALE ROYAL JUNIORS** Philip J Martin ACMA 33 Wildings Grove Davenham Cheshire CW9 8SR **VALE ROYAL MUSICAL THEATRE WITH VALE ROYAL JUNIORS** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022** ||Page| |---|---| |Report oftheTrustees|1 to2| |IndependentExaminer'sReport|3| |Statement ofFinancial Activities|4| |Balance Sheet|5| |Notes totheFinancialStatements|6to 8| |Detailed Statement of Financial Activities|9| **VALE ROYAL MUSICAL THEATRE WITH VALE ROYAL JUNIORS** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022** The trustees present their report with the financial statements of the charity for the year ended 31 December 2022. 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[th] March 2009 and 23[rd] April 2019. Its purposes are to educate the public in the dramatic and operatic arts and to further develop the public appreciation of these arts. ## **ACHIEVEMENT AND PERFORMANCE** ## **Charitable activities** The charity recommenced activities in 2021 following 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. VALE ROYAL IAUSICAL THEATRE WITh VALE ROYAL JUNIORS REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEM8ER 2tr22 REFERENCE AND ADIAINISTRATIVE ￿AlL8 Registered Charlty number 1063054 Principal addross The Gables Jack Lane Moutton Cheshire CW98QA Trustees Rebec￿ Jayrn Bens Sally Ann Ross Independent examlner P J Marts'n 33 Wildings Grov8 Davenham Cheshi CW98SR PU8UC BENEFrr The charity's tnJstees have (xMnplSgd with tho duty in 4 of th8 2(th Act to havg du8 regard to pubtic benefft guidance published by th8 Charity CommissK)n. Approved by order ofthe Board of Trustees on ? 3 October 2023 and signed on their behalf by. IIEQ C EIUSok) 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 2022 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(S)(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 2011Act have not been met; or - (2) to which, in my opinion, attention should be drawn to enable a proper understanding the accounts to be reached. Philip J Martin ACMA 33 Wildings Grove Davenham Cheshire CW9 8SR 21 October 2023 ## **VALE ROYAL MUSICAL THEATRE WITH VALE ROYAL JUNIORS** |**INCOME AND ENDOWNMENTS**
Donations and subscriptions
**Charitable Events**
Shows and performances
Other Trading Activities
**Total**
**EXPENDITURE ON**
**Charitable Events**
Shows and performances
Other Trading Activities
**NET INCOME/(EXPENDITURE)**
**Total funds brought forward**
**TOTAL FUNDS CARRIED**
**FORWARD**|Unrestricted
Restricted
31/12/2022
31/12/2021
fund
fund
Total funds
Total funds
£
£
£
£
2,101
8,821
10,922
2,915
11,148
5,149
16,297
6,252
0
0
0| |---|---| ||13,248
13,970
27,218
9,167
17,925
10,617
28,542
11,441
0
0
0| ||-4,676
3,353
-1,324
-2,274
21,443
9,582
31,025
33,299| ||16,767
12,935
29,702
31,025| ## **CONTINUING OPERATIONS** All income and expenditure have arisen from continuing activities. VALE ROYAL MUSICAL THEATRE YitrH VALE ROYAL JUNIORS The notes form part of these finanaal statements Unrestricted Restricted 3111212022 3111212021 fund fund Totsl funds Totsl funds CURRENT ASSET5 Cash at Bank and in Hand 16.767 12.935 29.702 31.025 cuRREr￿ A5SEtS 16.767 12.935 29.702 31,025 TOTALASSEfs LESS 16.767 12.935 29.702 31,025 NET ASSErs 16.767 12.935 29.702 31,025 FUNDS Unrestrirted funds Restricited funds 16.767 12,935 29,702 21,443 9,582 31,025 The finaucial Statements wert approved by the Board of TTUStces on 23 October 2023 and wer¢ signed on their behalf by.. Trustee The notes forn) part of these financial 5tstements **VALE ROYAL MUSICAL THEATRE WITH VALE ROYAL JUNIORS** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022** ## **1. STATUTORY INFORMATION** The charity in an unincorporated charity. The presentation currency of the financial statements is the Pound Sterling(£). ## **2. 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 2022** ## **3. OTHER TRADING ACTIVITIES** |**Other trading activities**
Christmas Fair
Fundraising events|31/12/2022
31/12/2021
24
24
0| |---|---| ## **4. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021. ## **Trustees'expenses** There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021. ## **5. MOVEMENT IN FUNDS** |**Unrestricted funds**
Generalfund
**Restricted funds**
JuniorSection
**TOTALFUNDS**|Asat
Net
As at
movement
01/01/2022
£
in funds
£
31/12/2022
£
21,443
(4,676)
16,767
9,582
3,353
12,935| |---|---| ||31,025
(1,324)
29,702| Net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restrictedfunds**
Junior section
**TOTAL FUNDS**|Incoming
Resources
Movement
Resources
Expended
In Funds
£
£
13,248
(17,925)
(4,676)
13,970
(10,617)
3,353
27,218
(28,542)
(1,324)| |---|---| 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 2022. **VALE ROYAL MUSICAL THEATRE WITH VALE ROYAL JUNIORS** ## **DETAILED STATEMENT** OF **FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022** |**INCOME and ENDOWNMENTS**
**Donations and legacies**
Donations and contributions
Member Subscriptions
Junior Subscriptions
**Other trading activities**
Christmas Fair
Fundraising events
**Charitiable activities**
Junior section shows
Aladdin
Annie
Wizard of Oz
Treasure Island
**Subtotal - Charitable events**
**TOTAL INCOME**
**EXPENDITURE**
**Charitiable activities**
Rent and Storage Costs
Insurance
Accountancy Fee
Stationary
Equipment and Power
Miscellaneous
Royalties
Annie
Wizard of Oz
Aladdin
Treasure Island
Young Frankenstein
Junior Shows
**Total Resources expended**
**NET INCOME**|31/12/2022
31/12/2021
1,944
17
2,083
640
6,871
2,258| |---|---| ||10,898
2,915| ||24| ||24
0| ||5,149
2,150
0
3,281
0
521
7,925
300
3,222| ||16,297
6,252| ||27,218
9,167| ||5,864
4,870
711
677
0
200
190
71
563
804
25
92
0
0
0
55
13,833
1,593
0
1,976
1,797
0
500
0
5,059
1,103| ||28,542
11,441| ||-1,324
-2,274|