Oxted & Limpsfield Barn Theatre Company Limited
ANNUAL REPORT AND FINANCIAL STATEMENTS for the year 1[st ] January – 31[st] December 2020
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Company Registration No: 0190597 Registered Charity No: 1064318
Oxted & Limpsfield Barn Theatre Company Limited DIRECTORS AND OFFICERS
DIRECTORS OF THE COMPANY AND TRUSTEES OF THE CHARITY
B C Reed Chairman J Kempton A M Le Croissette M Lister P J Littleford M O Lloyd P Robinson C Rowley M C Sutton
HONORARY TREASURER
M H Fisher FCMA
CHARITY REGISTRATION NUMBER 1064318 Registered 27 May 1997
COMPANY REGISTRATION NUMBER
190597 (England and Wales)
REGISTERED OFFICE
THEATRE
15a High Street Westerham Kent TN16 1RA
The Barn Theatre Bluehouse Lane Oxted Surrey RH8 0AA
INDEPENDENT EXAMINER
BANKERS
D R Steele FCA 25 Detillens Lane Limpsfield Surrey RH8 0DH
NatWest Bank Oxted Branch 12 Station Road East Limpsfield Oxted Surrey RH8 0PR
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Oxted & Limpsfield Barn Theatre Company Limited DIRECTORS’ AND TRUSTEES’ REPORT AND REVIEW
The directors and trustees submit their report and the financial statements of the Oxted & Limpsfield Barn Theatre Company Limited for the year ended 31 December 2020.
PRINCIPAL ACTIVITIES
The company is a registered charity, its object being to advance education in, promote and encourage the theatrical performing arts within Oxted and Limpsfield at the Barn Theatre, Bluehouse Lane, Oxted, Surrey for the benefit of the general public. The directors and trustees have had regard to the guidance issued by the Charity Commission on public benefit.
REVIEW OF THE BUSINESS AND FUTURE DEVELOPMENTS
A profit has been added to reserves this year. A review of the activities is included in the Chairman’s Report.
FINANCIAL RESULTS
The profit for the year was £18,340 and is set out on page 8.
DIRECTORS AND TRUSTEES AND THEIR INTERESTS
The directors and trustees are appointed by board resolution. Such appointment being confirmed by the members at the following AGM.
The following directors and trustees have held office since the 1 January 2020. Their interests in the shares of the company were as follows: -
No. of meetings attended Ordinary shares out of possible no of 8. of £1 each
31.12.20 01.01.20
| B C Reed | 8 | 102 | 102 |
|---|---|---|---|
| J Kempton | 8 | 10 | 10 |
| A M Le Croissette | 6 | 10 | 10 |
| M Lister | 8 | 45 | 45 |
| P J Littleford | 8 | 15 | 15 |
| M O Lloyd | 8 | 60 | 60 |
| P Robinson | 8 | 50 | 50 |
| C Rowley | 8 | 50 | 50 |
| M C Sutton | 8 | 20 | 20 |
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Oxted & Limpsfield Barn Theatre Company Limited DIRECTORS’ AND TRUSTEES’ REPORT AND REVIEW CONTINUED
GOVERNING INSTRUMENT
The charitable company is constituted according to the revised Memorandum and Articles of Association dated 27 May 1997.
ORGANISATIONAL STRUCTURE
The company is run and managed by up to 15 directors who are also trustees of the charity. All volunteers, they are chosen from a wide band of theatre users and have individual and collective strengths and responsibilities for the day to day affairs of the company. Appointment is only by invitation of the Board and is confirmed by the members at the AGM following appointment.
RESERVE POLICY
The general fund represents the theatre's normal activity of hiring to local groups and, over the long term, the trustees aim to balance income with expenditure.
RISK POLICY
The trustees do not consider that there are material risks associated with its activities other than normal trading risks.
INDEPENDENT EXAMINER
A resolution to confirm the appointment of David Steele, Independent Examiner will be put to the members at the annual general meeting.
DECLARATIONS
The company has taken advantage of the small companies’ exemption in preparing the report above.
The trustees declare that they have approved the trustees report (including directors’ report) above.
By order of the board
B C REED Chairman 4 March 2021
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Oxted & Limpsfield Barn Theatre Company Limited
CHAIRMAN’S REPORT
Dear Shareholders,
Kind regards
Bruce Reed
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Oxted & Limpsfield Barn Theatre Company Limited DIRECTORS’ AND TRUSTEES’ RESPONSIBILITIES IN THE PREPARATION OF FINANCIAL STATEMENTS
Company law and Charity law requires directors and trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the profit or loss of the company for that period. In preparing those financial statements, directors are required to:
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a. select suitable accounting policies and then apply them consistently;
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b. make judgements and estimates that are reasonable and prudent;
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c. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the requirements of the Companies Act and are in accordance with the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice (FRS 102). They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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Oxted & Limpsfield Barn Theatre Company Limited INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE OXTED & LIMPSFIELD BARN THEATRE CO LIMITED
I report on the accounts of the company for the year ended 31st December 2020, which are set out on pages 8 - 13.
Respective responsibilities of trustees and examiner
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The 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 needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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state whether particular matters have come to my attention.
Basis of 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 statement below.
Independent examiner's statement
In connection with my examination, no material matters have come to my attention which give me cause to believe that in, any material respect:
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accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
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the accounts do not accord with such records; or
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the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 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 Charities SORP (FRS102).
I 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.
David Steele FCA 25 Detillens Lane Limpsfield Oxted Surrey RH8 0DH
Date: 2021
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Oxted & Limpsfield Barn Theatre Company Limited STATEMENT OF FINANCIAL ACTIVITIES (including Income and Expenditure Account) for the year ended 31 December 2020
| Notes | Total | Total | ||||
|---|---|---|---|---|---|---|
| 2020 | 2019 | |||||
| INCOME AND EXPENDITURE | £ | £ | ||||
| Incoming Resources: | ||||||
| Charitable Activities | ||||||
| Theatre hire | 29,898 | 62,099 | ||||
| Barn Productions | 19,061 | 33,195 | ||||
| Merchandise | 68 | - | ||||
| Advertising | 578 | 3,508 | ||||
| Donations | 20,135 | 20,368 | ||||
| Government Grant | 27,000 | - | ||||
| Interest received on bank deposit | 112176 | |||||
| _ | _ | |||||
| Total incoming resources | 96,852 | 119,346 | ||||
| _ | _ | |||||
| Resources expended | ||||||
| Costs of Generating Funds – Fundraising & publicity | ||||||
| Advertising & direct mail | 2,594 | 7,118 | ||||
| Merchandise | 114 | - | ||||
| Production expenditure | 10,183 | 11,913 | ||||
| _ | _ | |||||
| 12,891 | 19,031 | |||||
| _ | _ | |||||
| Charitable Expenditure – Theatre running & donation | ||||||
| Rates | 385 | 1,501 | ||||
| Repairs & Maintenance | 7,690 | 11,604 | ||||
| Electrical & Audio | 1,253 | 593 | ||||
| Light, Heat & Water | 9,184 | 13,099 | ||||
| Cleaning, Refuse & Gardening | 6,2515,386 | |||||
| Depreciation | 3 | 25,42625,276 | ||||
| Donation | 2,743 | |||||
| 13,001 | ||||||
| _ | _ | |||||
| 52,932 | 70,460 | |||||
| _ | _ | |||||
| Management and administration of the charity | ||||||
| Insurance | 4,996 | 4,102 | ||||
| Licences | 2,632 | 2,425 | ||||
| Stationery, Software & Telephone | 2,0502,220 | |||||
| Legal & Professional Fees | 445 | 13 | ||||
| Legal & Professional Fees – Barn | 100 | 2,196 | - | |||
| Bank Charges | 230 | 310 | ||||
| Sundry | 140 | 231 | ||||
| _ | _ | |||||
| 12,689 | 9,301 | |||||
| _ | _ | |||||
| Total resources expended | 78,512 | 98,792 | ||||
| _ | _ | |||||
| Net Incoming resources | 18,340 | 20,554 |
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Balances b/f at 1 January 2020 9 682,084661,530 _ Balances c/f at 31 December 2020_ 9 700,424682,084 ====== ======
The net incoming resources arise from the Company’s continuing operations. The notes on pages 11 to 13 form part of these accounts
Oxted & Limpsfield Barn Theatre Company Limited BALANCE SHEET
31 December 2020
| Notes | Total | Total | |||
|---|---|---|---|---|---|
| 2020 | 2019 | ||||
| £ | |||||
| FIXED ASSETS | |||||
| Tangible Assets | 3 | 612,352 | 626,339 | ||
| __ | __ | ||||
| CURRENT ASSETS | |||||
| Stocks | 4 | 60 | 60 | ||
| Debtors | 5 | 4,982 | 4,871 | ||
| Cash at Bank and in hand | 6 | 102,206 | 66,154 | ||
| __ | __ | ||||
| 107,248 | 71,085 | ||||
| CREDITORS: | |||||
| Amounts falling due within | one year | 7 | (8,934)(5,098) | ||
| __ | __ | ||||
| NET CURRENT ASSETS | 98,314 | 65,987 | |||
| __ | __ | ||||
| __ | __ | ||||
| 710,666 | 692,326 | ||||
| ======= | ======= | ||||
| CAPITAL AND RESERVES | |||||
| Share Capital | 8 | 10,242 | 10,242 | ||
| General | 9 | 700,424682,084 | |||
| _ | |||||
| __ | |||||
| 710,666 | 692,326 | ||||
| ======= | ======= |
For the year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
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- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.
Approved by the Board of Directors on 4 March 2021 and signed on its behalf by:
………………………………………………..
B C Reed, Chairman of Directors and Trustees
The notes on pages 11 to 13 form part of these accounts.
Oxted & Limpsfield Barn Theatre Company Limited ACCOUNTING POLICIES
BASIS OF ACCOUNTING
The financial statements have been prepared under the historical cost convention as modified to include the revaluation of freehold properties and in accordance with the Companies Act 2006 and comply with relevant policies as required under the Statement of Recommended Practice for Charities (FRS 102). The Charity constitutes a public benefit entity as defined by FRS 102.
INCOMING RESOURCES
Incoming Resources represent theatre hire, Barn productions, advertising, donations and grants received and is included when the company becomes entitled to the resources.
STOCK
Stock is valued at the lower of cost and net realisable value.
DEPRECIATION
The freehold land and buildings were revalued in 1999. Other fixed assets are stated at historical cost.
Depreciation has been provided on the building at 2% on a straight line basis on cost or valuation and on all fixtures and equipment at 25% on a reducing balance basis calculated to write each asset down to its estimate residual value over its expected useful life.
INVESTMENTS
There are no investments held by the charity other than cash deposits held at the bank.
FUNDS
There are no restrictions on the use of the General fund apart from the furtherance of the charitable aims of the Company.
RESOURCES EXPENDED
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Resources expended are recognised in the period in which they are incurred.
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Oxted & Limpsfield Barn Theatre Company Limited NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2020
1. INCOMING RESOURCES
The charities turnover was derived from its principal activity, undertaken in the United Kingdom.
2. REMUNERATION
During the year the directors/trustees did not receive any remuneration or reimbursement of expenses from the company (2019 £Nil).
3. TANGIBLE FIXED ASSETS
| Freehold | General | Barn Cool | Total | |
|---|---|---|---|---|
| Land & | Furniture & | Furniture & | ||
| Buildings | Equipment | Equipment | ||
| £ | £ | £ | £ | |
| Cost or Valuation | ||||
| 1 January 2020 | 721,839 | 185,932 | 84,209 | 991,980 |
| Additions in the year | - | 11,439 | - | 11,439 |
| __ | __ | __ | _ | |
| 31 December 2020 | 721,839 | 197,371 | 84,209 | 1,003,419 |
| __ | __ | __ | _ | |
| Depreciation | ||||
| 1 January 2019 | 128,019 | 156,081 | 81,541 | 365,641 |
| Charged in the year | 14,437 | 10,322 | 667 | 25,426 |
| __ | __ | __ | _ | |
| 31 December 2020 | 142,456 | 166,403 | 82,208 | 391,067 |
| __ | __ | __ | _ | |
| Net book value: | ||||
| 31 December 2020 | 579,383 | 30,968 | 2,001 | 612,352 |
| ======= | ======= | ======= | ====== | |
| 31 December 2019 | 593,820 | 29,851 | 2,668 | 626,339 |
======= ======= ======= ====== The Freehold land and buildings were valued at 31 December 1999 by Ibbett Mosely, Chartered Surveyors on an existing use open market basis, in accordance with the Statement of Assets Valuation Practice No 4 and the guidance notes of the Royal Institution of Chartered Surveyors at £200,000.
On an historical cost basis land and buildings would have been included at:
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Historic cost 1999 | 6,228 | 6,228 |
| Green Room extension | 249,787 | 249,787 |
| Drip extension | 272,052 | 261,623 |
| Addition in year | - | 10,429 |
| _ | _ | |
| 528,067 | 528,067 | |
| Depreciation | 142,456 | 128,019 |
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Net Book Value
385,611 400,048 ====== ======
Oxted & Limpsfield Barn Theatre Company Limited NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2020
| 4. | STOCK | 2020 | 2019 |
|---|---|---|---|
| £ | £ | ||
| Merchandise held for sale at cost | 60 | 60 | |
| ======= | ======= | ||
| 5. | DEBTORS | ||
| £ | £ | ||
| Due within one year | |||
| Trade Debtors | - | 2,335 | |
| Prepayments | 1,715 | 2,011 | |
| Other | 3,267 | 525 | |
| __ | __ | ||
| 4,982 | 4,871 | ||
| ======= | ======= | ||
| 6. | CASH AT BANK | ||
| £ | £ | ||
| Bank current accounts | 39,071 | 35,131 | |
| Charity deposit account | 63,135 | 31,023 | |
| __ | __ | ||
| 102,206 | 66,154 | ||
| ======= | ======= | ||
| 7. | CREDITORS: Amounts falling due within one year | ||
| £ | £ | ||
| Trade Creditors | 3,739 | - | |
| Accruals and deferred income | 5,195 | 5,098 | |
| __ | __ | ||
| 8,934 | 5,098 | ||
| ======= | ======= | ||
| 8. | SHARE CAPITAL | ||
| £ | £ | ||
| Authorised: | |||
| 12,000 ordinary shares of £1 each | 12,000 | 12,000 | |
| ======= | ======= | ||
| Allotted, issued and fully paid: | |||
| 1 January 2019 | 10,242 | 10,182 | |
| Issue of shares | - | 60 | |
| __ | __ | ||
| 31 December 2019 | 10,242 | 10,242 | |
| ============== |
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Oxted & Limpsfield Barn Theatre Company Limited NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2020
9. RECONCILIATION OF MOVEMENT IN FUNDS
| Total | Total | ||
|---|---|---|---|
| 2020 | 2019 | ||
| £ | £ | ||
| 1 January 2020 | 682,084 | 661,530 | |
| Incoming resources for the year | 18,340 | 20,554 | |
| 31 December 2020 | _ | _ | |
| 700,424 | 682,084 | ||
| ====== | ======= |
No restrictions are placed on the general fund apart from the furtherance of the charitable aims of the company.
The General Fund is split between
| The General Fund is split between | |||
|---|---|---|---|
| General | Revaluation | Total | |
| Reserve | Reserve | ||
| £ | £ | £ | |
| 1 January 2020 | 488,312 | 193,772 | 682,084 |
| Net incoming resources for the fnancial year | 18,340 | - | 18,340 |
| __ | __ | __ | |
| 31 December 2020 | 506,652 | 193,772 | 700,424 |
| ======= | ======= | ======= | |
| 10.CAPITAL COMMITTMENT | 2020 | 2019 | |
| £ | £ | ||
| Authorised but not committed at year end | |||
| 3,275 | 4,000 | ||
| ======= | ======= |
11.TAXATION
The Company has been accepted as a charity for tax purposes and is therefore exempt from tax on its income and gains.
12.RELATED PARTY TRANSACTIONS
There were no Related Party Transactions during the year (2019 nil).
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Oxted & Limpsfield Barn Theatre Company Limited SOURCES AND APPLICATION OF FUNDS STATEMENT for the year ended 31 December 2020
| Total | Total | |||
|---|---|---|---|---|
| 2020 | 2019 | |||
| Net Incoming Resources | 18,340 | 20,554 | ||
| Add Depreciation | 25,426 | 25,276 | ||
| _ | _ | |||
| Funds Generated | 43,766 | 45,830 | ||
| Capital Expenditure | (11,439)(27,778) | |||
| Movement in Working Capital | 3,725 | (216) | ||
| Issue of shares | - | - | ||
| _ | _ | |||
| Cashfow in year | 36,052 | 17,836 | ||
| Cash balance b/f 1 Jan 2020 | 66,154 | 48,318 | ||
| _ | _ | |||
| Cash balance c/f 31 Dec 2020 | 102,206 | 66,154 | ||
| ====== | ====== |
M H Fisher 4 March 2021
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HOLDEN HARPER BARN THEATRE P,w.I"l. PROPOSED ELEVATION Pllge 16