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## Wickham Theatre Trust ## (Registration number: 03450828) Balance Sheet as at 31 December 2023 **----- Start of picture text -----**
||||||||| |---|---|---|---|---|---|---|---| |2023|2022| |Note|£|£| |Fixed|assets| |Tangible|assets|14|19,296|16,556| |Current|assets| |Stocks|16|1227|979| |Debtors|1|1,282|1,282| |Investments|15|7,412|6,930| |Cash|at|bank and|in|hand|61,395|65,690| |71,316|74,881| |Creditors:|Amounts|falling due|within|one year|18|(1,828)|(1,789)| |Net current assets|69,488|73,092| |Net assets|88,784|89,648| |Funds of the|charity:| |Unrestricted|income|funds| |Unrestricted|funds|88,784|89,648| |Total funds|20|88,784|89,648| **----- End of picture text -----**
For the financial year ending 31 December 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. ## Directors’ responsibilities: - The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and - The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. 22)3f24The fipancial andstatements signed on theiron pages behalf11 by:to 23 were approved by the trustees, and authorised for issue on Janet Qark Trustee The notes on pages 13 to 23 form an integral part of these financial statements. Page 12 ## Wickham Theatre Trust ## Notes to the Financial Statements for the Year Ended 31 December 2023 ## 1 Charity status z The charity is limited by guarantee, incorporated in England & Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. The address of its registered office is: Wickham Theatre Centre Corkscrew Hill West Wickham Kent BR4 9BA ## 2 Accounting policies ## Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. ## Statement of compliance The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102) - Second edition October 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011. ## Basis of preparation Wickham Theatre Trust 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 notes, ## Going concern The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity. Page 13 ## Wickham Theatre Trust ## Notes to the Financial Statements for the Year Ended 31 December 2023 ## Judgements and key sources of estimation uncertainty In the application of the charity's accounting policies, the trustees are required to make judgements, estimates-and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the periods in which the estimate is revised where revisions affects only that period, or in the period of the revision and future periods where the revisions affects both current and future periods. ## Income and endowments 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 the income receivable can be measured reliably. ## Donations and legacies Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully mez, ‘or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period. ## Grants receivable Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released. ## Deferred income Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when: - The donor specifies that the grant or donation must only be used in future accounting periods; or - The donor has imposed conditions which must be met before the charity has unconditional entitlement. ## investment income Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. Page 14 ## Wickham Theatre Trust ## Notes to the Financial Statements for the Year Ended 31 December 2023 ## Expenditure ; All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs. ## Raising funds These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds. ## Charitable activities Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. ## Support costs Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. ## Taxation The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. ## Tangible fixed assets Individual fixed assets costing £500 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. ## Depreciation and amortisation Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows: **----- Start of picture text -----**
|||||||| |---|---|---|---|---|---|---| |Asset|class|Depreciation|method|and|rate| |Land and|building|over|life|of|lease,|expiring 31-12-2025| |Furniture|and|equipment|25% on|cost| **----- End of picture text -----**
Page 15 ## Wickham Theatre Trust ## Notes to the Financial Statements for the Year Ended 31 December 2023 ## Current asset investments Current asset investments are included at the lower of cost and net realisable value/ market value. ## Stock Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO). ## Trade debtors Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables. ## Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. ## Borrowings Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. ## Fund structure Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity. Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees. Page 16 ## Wickham Theatre Trust ## Notes to the Financial Statements for the Year Ended 31 December 2023 ## 3 Income from donations and legacies . |||Unrestricted||| |---|---|---|---|---| ||||Total|Total| |||General|2023|2022| |||£|£|£| |Donations and legacies;||||| ||Appealsand donations|10,000|10,000|100| |Grants, including capital grants;||||| ||Government grants|-|-|2,667| |Subscriptions||3,412|3,412|3,290| |||13,412|13,412|6,057| |4|Income from charitable activities|||| |||Unrestricted||| ||||Total|Total| |||General|2023|2022| |||£|£|£| ||Production income|14,225|14,225|15,266| ||Hall lettings|3,720|3,720|2,235| ||Sale ofgoods and services made|-|-|170| |||17,945|17,945|17,671| ## 4 Income from charitable activities ## 5 Income from other trading activities ||Unrestricted||| |---|---|---|---| |||Total|Total| ||General|2023|2022| ||£|£|£| |Events income;|||| |Functionsandfundraising events|1,788|1,788|2,498| |Bartaking|10,332|10,332|7,851| ||12,120|12,120|10,349| Page 17 ## Wickham Theatre Trust ## Notes to the Financial Statements for the Year Ended 31 December 2023 ## 6 Investment income **----- Start of picture text -----**
Unrestricted
Total Total
General 2023 2022
£ £ £
Interest receivable and similar income;
Interest receivable on bank deposits 255 255 135
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7 Expenditure on raising funds ## a) Costs of generating donations and legacies ||Unrestricted||| |---|---|---|---| |||Total|Total| ||General|2023|2022| ||£|£|£| |Opening stock|979|979|703| |Purchases|3,517|3,517|3,539| |Closing stock|(1,227)|(1,227)|(979)| |Costofproductions|5,912|5,912|5,219| |Insurance|4,884|4,884|4,285| ||14,065|14,065|12,767| **----- Start of picture text -----**
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## hin ## Wickham Theatre Trust ## Notes to the Financial Statements for the Year Ended 31 December 2023 : ## 8 Expenditure on charitable activities |||Unrestricted|Unrestricted|||| |---|---|---|---|---|---|---| |||||Total||Total| |||Designated|General|2023||2022| ||Note|£|£|£||£| |Fundraisingcosts||-|1,106|1,106||3,770| |Rent||-|5,128|5,128||5,128| |Rates and water||-|807|807||1,513| |Light, heatand power||=|2,639|2,639||2,903| |Licence feeand||||||| |subscriptions||.|1,535|1,535||723| |Repairsand maintenance||-|4,470|4,470||6,765| |Depreciation||8,632|1,024|9,656||5,521| |Supportcosts|9|ee.|S672|672|8,918|| |||8,632
EEE|22,381
=|31,013
ee|ES|30,241| ## 9 Analysis of governance and support costs ## Support costs ||Unrestricted||| |---|---|---|---| ||funds|Total|Total| ||General|2023|2022| ||£|£|£| |Security|2,721|2,721|1,071| |Telephoneandweb server|814|814|911| |Printing, postage and stationery|164|164|304| |Sundries|316|316|246| |Independentexaminer's fee|1,398|1,398|1,356| |Bankcharges|259|259|30| ||5,672|5,672|3,918| 10 Net incoming/outgoing resources ## Net outgoing resources for the year include: Depreciation of fixed assets **----- Start of picture text -----**
2023 2022
£ £
9,656 5,521
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## Wickham Theatre Trust ## Notes to the Financial Statements for the Year Ended 31 December 2023 ## 11 Trustees remuneration and expenses No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. No trustees have received any reimbursed expenses or any other benefits from the charity during the year. ## 12 Taxation The charity is a registered charity and is therefore exempt from taxation. ## 13 Related party transactions There were no related party transactions in the year. ## 14 Tangible fixed assets ||Land|and|Furniture and|| |---|---|---|---|---| ||buildings||equipment|Total| ||£||£|£| |Cost||||| |At 1 January 2023||81,255|18,253|99,508| |Additions||12,398|-|12,398| |At 31 December 2023||93,653|18,253|111,906| |Depreciation||||| |At 1 January2023||67,751|15,203|82,954| |Charge forthe year||8,632|1,024|9,656| |At 31 December2023||76,383|16,227|92,610| |Net bookvaiue||||| |At 31 December 2023||17,270|2,026|19,296| |At 31 December 2022||13,504|3,050|16,554| |15 Current asset investments||||| ||||2023|2022| ||||£|£| |Listedothershares|||7,412|6,930| Page 20 ## Wickham Theatre Trust ## Notes to the Financial Statements for the Year Ended 31 December 2023 **----- Start of picture text -----**
||||||| |---|---|---|---|---|---| |16|Stock| |2023|2022| |£|£| |Stocks|1227|979| |17|Debtors| |2023|2022| |£|£| |Prepayments|1,282|1,282| |18|Creditors: amounts|falling due|within|one year| |2023|2022| |£|£| |Accruals|1,398|1,356| |Deferred|income|430|433| |1,828|1,789| |2022| |£| |Deferred|income|at|1|January 2023|433| |Resources|deferred|in|the|period|430| |Amounts|released|from|previous|periods|(433)| |Deferred|income|at year end|430| **----- End of picture text -----**
## 19 Contingent liabilities Whilst the lease terms between the charity (WTT) and the trustees of the West Wickham Playing Fields Trust (the landlord) in respect of the the theatre premises provide for the Landlord to be responsible for the upkeep and maintenance of the car parking area forming part of the Charity's leased area, the lease provision does allow Landlord to seek a contribution towards the costs involved. Given the current poor state of the parking area WTT has opened discussions with the Landlord regarding future improvements and therefore at some stage it is possible that WTT will be called on to make a due contribution. At this stage no commitments, either side, have been made, but WTT's commitee consider it reasonable to draw members’ attention that a contingent liability does exist and could materialise during the next 12 to 24 months. The annual commitments under this lease was £5,128 (2022 - £5,128). Page 21 | ## Wickham Theatre Trust ## Notes to the Financial Statementsfor the Year Ended 31 December 2023 ## 20 Funds **----- Start of picture text -----**
||||||||| |---|---|---|---|---|---|---|---| |Balance|at| |Balance|at|Other|31| |1 January|Incoming|Resources|recognised|December| |2023|resources|expended|Transfers|gains/(losses)|2023| |Current|year|£|£|£|£|£|£| |Unrestricted| |General|Funds|76,144|43,732|(36,446)|(12,398)|482|71,514| |Designated|Funds|13,504|-|(8,632)|12,398|-|17,270| |Total funds|89,648|43,732|(45,078)|-|482|88,784| |Balance|at| |Balance at|Other|31| |i January|Incoming|Resources|recognised|December| |2022|resources|expended|Transfers|gains/(losses)|2022| |Prior year|£|£|£|£|£|£| |Unrestricted| |General|Funds|80,457|34,042|(38,339)|473|(489)|76,144| |Designated|Funds|18,476|-|(4,499)|(473)|-|13,504| |Total funds|98,933|34,042|(42,838)|-|(489)|89,648| **----- End of picture text -----**
The specific purposes for which the funds are to be applied are as follows: ## Designated Funds Leasehold building fund: Trustees have set aside an amount equal to the cost of the leasehold building as a designated fund. All amount equal to the depreciation charge on all building costs is charged to this fund ann ually. Page 22 ## Wickham Theatre Trust ## Notes to the Financial Statements for the Year Ended 31 December 2023 |21 Analysis ofnet assets between funds|||| |---|---|---|---| ||Unrestricted||| ||General|Designated|Totalfunds| |Currentyear|£|£|£| |Tangiblefixed assets|2,026|17,270|19,296| |Current assets|71,316|-|71,316| |Current liabilities|(1,828)|-|(1,828)| |Total net assets|71,514|17,270|88,784| ||Unrestricted||| ||General|Designated|Totalfunds| |Prioryear|£|£|£| |Tangible fixed assets|3,052|13,504|16,556| |Current assets|74,881|é|74,881| |Current liabilities|(1,789)|-|(1,789)| |Total net assets|76,144
——EEeEyEEE——s|13,504
———SOUIV.|89,648
SS| Page 23