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2023-08-31-accounts

Charity registration number 1070142

Company registration number 03573945 (England and Wales)

RIDING LIGHTS

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

RIDING LIGHTS

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr A P N Dunn
Mr A J Bradley
Mr S M H Cavanagh
Mr J C Emmett
Mr M J Hands
Mr D J Lampitt
Mrs Y P L Morley-Chisholm
Mr O Brown (Appointed 8 September 2022)
Miss S Maddison (Appointed 8 September 2022)
Mr J M Brown (Appointed 24 August 2023)
Ms B J C Foreman (Appointed 24 August 2023)
Members Mrs R Jack
Mr R Mapletoft
Rev'd Dr B Quash
Mr M Rance
Mrs J Smyth
Mr J M W Somerville
Secretary Mr A P N Dunn
Charity number 1070142
Company number 03573945
Registered office Friargate Theatre
Lower Friargate
York
UK
YO1 9SL
Independent examiner David Walker FCA
124 Acomb Road
York
YO24 4EY

RIDING LIGHTS

CONTENTS

Page
Trustees' report 1 - 9
Independent examiner's report 10
Statement of financial activities 11
Balance sheet 12
Notes to the financial statements 13 - 25

RIDING LIGHTS

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) FOR THE YEAR ENDED 31 AUGUST 2023

The trustees present their annual report and financial statements for the year ended 31 August 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's memorandum and articles of association dated 2 June 1998 as amended July 2019, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016)

Objectives and activities

The charity's objects are :

-to advance the education, public understanding and appreciation of the dramatic arts.

-to teach, train and encourage young artists and other members of the public in the dramatic arts.

-to explore, principally through the dramatic arts, the relevance of the Christian faith to contemporary life and its potential to effect positive change.

The policies adopted in furtherance of these objects are the staging of performances and workshops at the Friargate Theatre, the annual summer school and working within the Christian Church, schools and other areas of the community presenting high quality drama and direct teaching. There has been no change in these during the year.

The charity has the general aim of providing and presenting performances which are of educational, cultural and religious value to the community.

The main objectives for the year continued to be the promotion and fostering of artistic knowledge and appreciation of the dramatic arts, and the exploration of the relevance of the Christian faith to contemporary life and its potential to effect positive change.

Strategies for achieving aims and objectives

Strategies for achieving the objectives of the charity continues to be the staging of performances and workshops at the Friargate Theatre, the annual summer school and working within the Christian Church, schools and other areas of the community presenting high quality drama and direct teaching. Performance space is also hired out to local performers, both amateur and professional, as well as to touring artists

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

The trustees consider that the charity is a public benefit entity.

Activities

Details of the significant activities of the charity during the year are as follows:

RIDING LIGHTS

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

Riding Lights Productions

September 2022

October 2022

November 2022

December 2022

January 20023

February 2023

March 2023

RIDING LIGHTS

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

April 2023

May 2023

June 2023

July 2023

August 2023

Riding Lights Roughshod

The charity's Roughshod Company, which is primarily staffed by volunteer actors and actresses offering performances at no charge, did not operate during the year.

Educational and Youth Work

Riding Lights Education works with both young people and adults to offer theatrical opportunities for the York community and beyond.

Acting Up!, a company for young people with additional needs continues for 18-30 year olds. The young people spent a year learning about filmmaking: writing, directing and performing in their own original short films. In the Summer they placed these films into a devised sci-fi performance about dreams.

In May we were awarded £4,150 by the City of York Council for the work of Acting Up!, specifically to tackle loneliness using creativity. This money will be put towards bringing in new practitioners to teach new and exciting skills and taking the young people to the theatre.

Summer Theatre School

Riding Lights Summer Theatre School took place at St Peter’s School, York. Although the number of participants is not as high as before Covid, particularly young people, the week was successful and valued by those who attended. The theme of the week was 'Rise Up - Find Your Voice'. Over the course of the 6 days, our participants used this springboard to create a diverse collection plays and pieces of writing. From an immersive piece about 1970s British Politics to a devised piece about protests across the globe, these plays were impactful and memorable.

RIDING LIGHTS

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

Volunteers

Use of Volunteers

Riding Lights is widely supported by many people across the country who help by providing a wide range of valuable resources, particularly when Riding Lights visits local communities. We are particularly grateful for the generous provision of accommodation and hospitality made to our acting companies as well as to those who organise performances of our work in their area. Riding Lights has been very pleased to be able to tour this year but has found there is greater reluctance to offer hospitality in homes.

The educational department also benefits from the assistance of volunteers, who provide valuable experience to those individuals taking part.

RIDING LIGHTS

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

Achievements and performance

Significant activities and achievements against objectives

Riding Lights Productions

Inspired , commissioned by the church in Wales, was performed to 17 venues on a Welsh tour. The show was a thoughtful and entertaining encouragement to Christians to engage freshly with the Bible, and to consider not just what they were reading, but how they were reading it. It has proved a durable and transferable piece, robust enough to be performed either in its entirety or in extract form, across a range of settings. There have been opportunities to draw from it throughout the year, and it continues to be a valuable resource to the company.

Friargate Theatre was host to a number of Aesthetica Short Film Festival screenings and a performance of Murray Watts’ solo play, Fire from Heaven .

Nearly the Goat was revived as a Christmas tour to primary schools and churches, and toured through the later part of November and December, giving 38 performances in total. The return to a fully live performance was a joyous restoration of the Riding Lights tradition of Christmas touring, after all the cancellations of last year and the necessary decision to offer a filmed version of Fizzy Finn Finds His Feet in 2022 as a response to the Covid disruptions. Pay it Forward donations enabled the company to offer 10 free performances to schools and communities.

The Uneasy Sleeps of Max Maxwell was developed through the support of ECLAS (Equipping Christian Leadership in an Age of Science), and their Scientists in Congregations Programme / Templeton Foundation. The commissioned play focused on Artificial Intelligence in modern day life, and toured January-March. Each performance was followed by live Q&A with expert scientists from the local area. It provoked considerable discussion with audiences, and was also filmed as an educational resource.

As a result of the tour of My Place , the company delivered story-telling workshops in Bulgaria for A World Without Orphans conference, extending the international reach of the work of the company.

There were a number of community stagings of The Peoples’ Passion around the UK in the run up to Easter, some supported by Riding Lights creative staff.

In April, after a short illness, the company’s long-time Artistic Director, Paul Burbridge, died. This was unexpected and to a large degree un-prepared for, and as a result the company was forced to cancel planned work in the short term as colleagues, including Paul’s close relatives, absorbed and adjusted. This largely affected the company’s planned contributions to the York International Shakespeare Festival, though external Festival events were still held at Friargate Theatre. Despite the cancellation of planned live events, Paul’s filmed version of Pericles was screened as a Festival event.

The annual Member’s Day, scheduled for May 13th, was cancelled.

The planned-for retirement of Bernadette Burbridge (General Manager, and Paul’s wife) was brought forwards, with an inevitable but unavoidable additional impact on the administrative and managerial oversight of the company.

The months immediately following these painful losses were dedicated to maintaining some output of deliverable work whilst ensuring that the depleted staff team could – with the support of the Associate Directors – continue with dayto-day management and planning for future work. Around this there were shortened performances of Inspired at summer festivals, and events at Friargate Theatre continued, including regular Right Here Right Now improvisation evenings, and Acting Up! Youth Theatre, who gave performances in addition to their weekly workshop sessions.

Launched in Paul’s memory at his Memorial Service, The Word Bank is a fund to support new writing. It has received significant donations and remains open until June 2024.

Ongoing planning for future work for tours for Christmas 2023 and Lent 2024 was maintained and progressed, as was the partnership with charity Transforming Lives for Good, working toward the commission and tour of a new play for Autumn 2024. Growing out of the tour of My Place (with Home for Good), this new play will highlight the stories of young people at risk of school exclusion and the work with TLG’s volunteer coaches that transforms their lives and life prospects.

RIDING LIGHTS

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

Financial review

Riding Lights aims to cover all its costs through a mixture of the regular donated income received from Membership and irregular income from one-off donations as well as earned income from projects and productions. The Company aims to ensure that the core costs of operating Riding Lights (Administration, Friargate Theatre, Company Vehicles, Staff etc.) are broadly covered by regular and one-off giving. Any shortfall is met by profit from projects and productions. Any surplus is intended principally to support new productions, which is essential if the Company is to invest in and remain creatively active. Riding Lights costs are kept to a minimum while also ensuring that staff are paid, as a bare minimum, in accordance with the recommendations of the Living Wage Foundation to which the company is affiliated.

As at 31 August 2023 unrestricted reserves stood at £478,152 (2022 £552,926). of which £223,548 (2022 £231,001 ) is represented by property.

Regular income has remained fairly steady with a small reduction in membership subscriptions, largely from elderly supporters no longer able to make a regular contribution, although there has been a small increase in new membership because the company is now back on tour and able to attract new members.

Irregular income including external funding, grants, donations and partnerships are crucial as a support for the whole organisation.

The Board's current strategy is to:

Reserves policy

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to six month’s fixed costs expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Investment policy

The company's memorandum and articles of association give the charity the power to make any investment which the trustees think fit. At the present time no such investments are held.

Major risks

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

The trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks faced by the charity and confirm that they have established systems to mitigate the significant risks.

RIDING LIGHTS

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

Plans for future periods

The company has costed plans for the next three years, subject to review.

Structure, governance and management

The charity was registered with the Charity Commission on 23rd June 1998 charity registration number 1070142 and is constituted as a company limited by guarantee, company registration number 03573945 (England and Wales) and is therefore governed by its memorandum and articles of association dated 2nd June 1998 as amended on 23rd July 2019.

The company began to operate on 1 November 1998 when the assets and liabilities of Riding Lights Trust (a registered charity) and Riding Lights Theatre Company Limited with the exception of its stock of merchandise were transferred to the company. The Riding Lights Theatre Company Limited then changed its name to Riding Lights (Trading) Limited. Riding Lights (Trading) Limited was dissolved on 16 December 2008.

The principal office and registered office address is:

Friargate Theatre Lower Friargate York YO19 9SL

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr A P N Dunn Mr A J Bradley Mrs B C G Burbridge (Resigned 13 November 2023) Mr P A Burbridge (Died 19 April 2023) Mr S M H Cavanagh Mr J C Emmett Mr M J Hands Mr D J Lampitt Mrs Y P L Morley-Chisholm Mr O Brown (Appointed 8 September 2022) Miss S Maddison (Appointed 8 September 2022) Mr J M Brown (Appointed 24 August 2023) Ms B J C Foreman

(Appointed 8 September 2022) (Appointed 8 September 2022) (Appointed 24 August 2023) (Appointed 24 August 2023)

RIDING LIGHTS

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

Recruitment and appointment of trustees

All directors of the company are also trustees of the charity and there are no other trustees. The Board has the power to appoint additional trustees as it considers fit to do so.

In accordance with the provisions of the company's Articles of Association at each AGM one third of the board members shall retire by rotation, any newly appointed trustees shall hold office until the next Annual General Meeting and shall not be taken into account in determining the board members who are to retire by rotation at the meeting. If not reappointed at such Annual General Meeting, they shall vacate office at the meeting thereof.

In accordance with these provisions Sean Cavanagh, John Emmett and Antony Dunn will retire from office by rotation at the next AGM and, being eligible, offer themselves for re-election.

None of the trustees have any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

The trustees have complied with the duty imposed upon them by Section 4 of the Charities Act 2011 to have due regard to guidance published by the Charity Commission including the guidance issued in respect of public benefit.

Qualifying third party indemnity provisions

Subject to the provisions of the Companies Act 2006, but without prejudice to any indemnity to which a board member may otherwise be entitled, every board member or other officer or auditor of the Charity shall be indemnified out of the assets of the Charity against any liability incurred by him in defending any proceedings, whether civil or criminal, in which judgement is given in his favour or in which he is acquitted or in connection with any application in which relief is granted to him by the court from liability for negligence, default, breach of duty or breach of trust in relation to the affairs of the Charity, and against all costs, charges, losses, expenses or liabilities incurred by him in the execution and discharge of his duties or in relation thereto.

Organisational structure

The trustees meet regularly to manage the charity's affairs and delegate the day-to-day running of the charity's activities to its executive and artistic directors and administrative staff.

Induction and training of trustees

Riding Lights is a theatre company with a Christian ethos and it is important that Trustees who join the Board share the Company's beliefs and objectives.

Potential new Trustees are identified from amongst the long-term, active supporters of Riding Lights. The Board seeks to maintain a balance of knowledge and experience relevant to particular aspects of the Company's activities; for example: Finance, Personnel, Education, etc.

Potential Trustees are invited by the Chairman to think and pray about their possible deeper involvement with the Company. Those who accept are invited to attend a Board meeting to see what goes on and how the Board operates. Once they have formally decided to accept the invitation, they are encouraged to attend as many of the meetings as possible. Inevitably not everyone can attend every meeting. Meeting dates are agreed a year in advance, with some six meetings each year. Minutes and review notes are circulated to all members of the Board on a regular basis.

There is no formal training programme for new trustees, but they are all selected from individuals who have supported or worked with Riding Lights in different capacities in the past. They are therefore already familiar with the broad outlines of the company's activities. Initially they work alongside more experienced members of the Board on subcommittees or in exploring specific issues.

Relationship with related parties

A number of the charity's trustees invoiced the charity for various fees and expenses, the details of which are disclosed in note 9.

RIDING LIGHTS

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

Promoting the success of the company

Note 20 sets out an analysis of the assets attributable to the various funds. These assets are sufficient to meet the charity's obligations on a fund by fund basis.

Paul Burbridge

Paul Burbridge, our beloved Artistic Director, died on 19th April, following a short illness.

Paul, along with Nigel Forde and Murray Watts, founded Riding Lights in 1977, and led the company for over 40 years with unwavering vision and extraordinary creativity. His commitment to the company and to all who encountered it in any way was inspiring and infectious, as were his kindness, warmth and humour. He was an encourager, guide, mentor and friend to many, whose faith and faithfulness to God flowed into the lives of others. Riding Lights was his life’s work, his calling, and a source of deep joy to him.

Paul’s vision for Riding Lights Theatre Company was that we are all called to make kingdom-centred theatre that is responsive, urgent, visionary, insightful and prophetic, and that in order to do that we need new plays.

Paul made extraordinary theatre with a spirit of abundance and generosity. A new fund, The Word Bank, was created in Paul’s memory and to which people have donated with that same spirit of abundance. The fund is open for donations until June 2024.

The trustees' report was approved by the Board of Trustees.

Mr J M Brown

Director & Trustee

7 March 2024

RIDING LIGHTS

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF RIDING LIGHTS

I report to the trustees on my examination of the financial statements of Riding Lights (the charity) for the year ended 31 August 2023.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements 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 financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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 that in any material respect:

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 financial statements to be reached.

David Walker FCA

124 Acomb Road York YO24 4EY

Dated: 7 March 2024

RIDING LIGHTS

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income from:
Donations and legacies
2
211,085
43,329
Charitable activities
3
78,281
-
Other trading activities
4
2,413
-
Investments
5
1,297
-
Total income
293,076
43,329
Expenditure on:
Raising funds
6
11,200
-
Charitable activities
7
397,237
7,453
Total expenditure
408,437
7,453
Net income/(expenditure)
(115,361)
35,876
Transfers between
funds
12
40,587
(40,587)
Net movement in
funds
(74,774)
(4,711)
Reconciliation of funds:
Fund balances at 1 September
2022
552,926
37,962
Fund balances at 31 August
2023
478,152
33,251		 Total Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
254,414
187,220
99,533
78,281
65,072
-
2,413
1,529
-
1,297
35
-
336,405
253,856
99,533
11,200
10,043
-
404,690
386,391
7,701
415,890
396,434
7,701
(79,485)
(142,578)
91,832
-
109,533
(109,533)
(79,485)
(33,045)
(17,701)
590,888
585,971
55,663
511,403
552,926
37,962		 Total
2022
£
286,753
65,072
1,529
35
353,389
10,043
394,092
404,135
(50,746)
-
(50,746)
641,634
590,888

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

RIDING LIGHTS

BALANCE SHEET

AS AT 31 AUGUST 2023

Notes
Fixed assets
Tangible assets
13
Current assets
Stocks
14
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within
one year
Taxation and social security
Other creditors
16
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
18
Unrestricted funds		 2023
£
500
37,646
265,060
303,206
2,368
33,830
36,198		 £
244,395
267,008
511,403
33,251
478,152
511,403		 2022
£
500
27,669
328,650
356,819
417
14,702
15,119		 £
249,188
341,700
590,888
37,962
552,926
590,888

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 August 2023.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 7 March 2024

Mr J C Emmett Mr J M Brown Trustee Trustee

Company Registration No. 03573945

RIDING LIGHTS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

1 Accounting policies

Charity information

Riding Lights is a private company limited by guarantee incorporated in England and Wales. The registered office is Friargate Theatre, Lower Friargate, York, YO1 9SL, UK.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document dated 2 June 1998, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

The company has a number of restricted income funds to account for situations where a donor requires that a donation must be spent on a particular expense or where funds have been raised for a specific purpose.

Where monies are received as a contribution towards the general costs of a specific performance or project, the money is held as restricted funds until such a time that the nominated performance or project has finished. When the performance or project has finished the monies are transferred into unrestricted funds.

All other income funds are unrestricted unless designated by the trustees.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

RIDING LIGHTS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

1 Accounting policies

(Continued)

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant which specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Incoming resources from charitable activities comprises income from ticket sales, memberships, theatrical services and hire of theatre space. Income is recognised on a receivable basis.

1.5 Expenditure

All expenditure is accounted for on an accruals basis.

Grants payable are payments made to third parties in the furtherance of the charitable objectives of the Trust.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings Straight line over 50 years - allocated against restricted funds Lighting and equipment Straight line over 10 years Fixtures and fittings Straight line over 5 years Motor vehicles Straight line over 5 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

RIDING LIGHTS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

1 Accounting policies

(Continued)

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13 Creditors and provisions

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

RIDING LIGHTS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2023

2 Donations, Gifts and legacies

Unrestricted
Restricted
funds
funds
£
£
Donations and gifts
14,169
43,329
Legacies receivable
21,272
-
Gift Aid & Theatre Tax Relief
51,655
-
Memberships
123,989
-
211,085
43,329
For the year ended 31 August 2022
187,220
99,533
Donations and gifts
St Johns College
-
13,395
Representative Body of the Church in Wales
-
-
Templeton Foundation
-
-
The Westhill Foundation
-
-
Anonymous donation
-
-
City of York Council
-
4,150
Dr Bayly
4,000
-
Feofees of St Michael Le Belfrey
3,000
-
Hebron Trust
-
-
Bible Society
-
4,000
Other
7,169
21,784
14,169
43,329		 Total
2023
£
57,498
21,272
51,655
123,989
254,414
13,395
-
-
-
-
4,150
4,000
3,000
-
4,000
28,953
57,498		 Total
2022
£
115,864
-
42,345
128,544
286,753
286,753
51,400
15,000
2,495
2,100
30,233
-
-
3,000
1,080
-
10,556
115,864

Where income has been specifically restricted to a future performance by the donor, this income is not deferred but held as a restricted fund.

The company receives donations from various organisations to financially aid the educational program and the production of specific performances. Material & selected donations are shown above.

The Charity also benefits greatly form the involvement and enthusiastic support of its volunteers, details of which are given in our annual report. In accordance with the Charities SORP, the economic contribution of general volunteers is not recognised in the accounts.

‘Other’ restricted donations are made up of smaller donations, the majority of which were made to support The Word Bank and the tour of ’Nearly the Goat’.

RIDING LIGHTS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

Donations, Gifts and legacies
Unrestricted
Restricted
funds
funds
£
£
Legacies receivable
Gladstone
17,773
-
Bowler
3,499
-
21,272
-
Tax reliefs and credits receivable for core activities
Gift Aid
31,912
-
Theatre Tax Relief
19,743
-
Coronavirus support grants
-
-
Apprentice scheme
-
-
51,655
-		 Total
Total
2023
2022
£
£
(Continued)
17,773
-
3,499
-
21,272
-
31,912
19,400
19,743
15,945
-
6,000
-
1,000
51,655
42,345		 Total
Total
2023
2022
£
£
(Continued)
17,773
-
3,499
-
21,272
-
31,912
19,400
19,743
15,945
-
6,000
-
1,000
51,655
42,345
-
19,400
15,945
6,000
1,000
42,345

2 Donations, Gifts and legacies

3 Charitable activities

Performances
Summer
school and
educational
projects
2023
2023
£
£
Ticket Sales
33,004
32,638
Hire of Theatre Space
12,639
-
45,643
32,638		 Total
2023
Performances
Summer
school and
educational
projects
2022
2022
£
£
£
65,642
29,449
30,539
12,639
5,084
-
78,281
34,533
30,539		 Total
2022
£
59,988
5,084
65,072

4 Income from other trading activities

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Merchandise & Performance Night Income 2,413 1,529

RIDING LIGHTS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2023

5 Income from investments

6 Unrestricted Unrestricted
funds
funds
2023
2022
£
£
Interest receivable
1,297
35
Raising funds
2023
2022
£
£
Fundraising and publicity
Staging fundraising events
1,675
1,743
Staff costs
9,525
8,300
Fundraising and publicity
11,200
10,043
11,200
10,043		 Unrestricted Unrestricted
funds
funds
2023
2022
£
£
Interest receivable
1,297
35
Raising funds
2023
2022
£
£
Fundraising and publicity
Staging fundraising events
1,675
1,743
Staff costs
9,525
8,300
Fundraising and publicity
11,200
10,043
11,200
10,043
2022
£
1,743
8,300
10,043
10,043

RIDING LIGHTS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

7 Charitable activities

Theatrical
activities
Summer
School and
Educational
activities
2023
2023
£
£
Staff costs
52,538
4,600
Depreciation and
impairment
7,453
-
Production costs
63,470
31,611
Property and Venue costs
20,263
-
Insurance
17,593
-
Marketing & Promotion
17,625
680
Travel & Subsistence
5,677
1,634
Property Maintenance
2,207
-
186,826
38,525
Share of support costs (see
note 8)
150,982
9,000
Share of governance costs
(see note 8)
19,357
-
357,165
47,525
Analysis by fund
Unrestricted funds
349,712
47,525
Restricted funds
7,453
-
357,165
47,525		 Total
2023
Theatrical
activities
Summer
School and
Educational
activities
2022
2022
£
£
£
57,138
45,990
4,400
7,453
7,701
-
95,081
68,872
27,659
20,263
12,661
-
17,593
14,660
-
18,305
17,736
902
7,311
11,160
603
2,207
2,851
-
225,351
181,631
33,564
159,982
139,290
24,580
19,357
12,772
2,255
404,690
333,693
60,399
397,237
325,992
60,399
7,453
7,701
-
404,690
333,693
60,399		 Total
2022
£
50,390
7,701
96,531
12,661
14,660
18,638
11,763
2,851
215,195
163,870
15,027
394,092
386,391
7,701
394,092

RIDING LIGHTS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

8 Support costs allocated to activities

Staff costs
Depreciation
Storage costs
Vehicle running costs
Printing & Stationery
Postage
Computer & IT costs
Bank & Credit card charges
Telecommunications
Sundry Expenses
Governance costs
Analysed between:
Theatrical activities
Summer school and educational projects		 2023
£
102,252
5,037
14,941
7,272
5,033
4,084
11,707
2,087
3,664
3,906
19,356
179,339
170,339
9,000
179,339		 2022
£
111,870
4,855
15,119
9,593
4,030
2,460
6,189
2,164
2,676
4,914
15,027
178,897
152,062
26,835
178,897

9 Trustees

An exception has been granted by the Charity Commission allowing certain trustees & directors to receive remuneration, on a commercial basis, for the roles they perform as follows:

P Burbridge Salary £20,131 (2022- £31,000) Pension contributions £2,065 (2022- £3,099)

S Cavanagh Salary £6,816 (2022- £6,816) Pension contributions £nil (2022- £nil)

B Burbridge Salary £10,779 (2022- £18,351) Pension contributions £240 (2022- £363)

The amount of remuneration paid to the individuals concerned is decided upon and approved by the board of trustees.

RIDING LIGHTS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

9 Trustees

(Continued)

The following transactions were undertaken with Mr S Cavanagh, who is a trustee & director of the company: Purchases of goods, services and reimbursement of expenses £0 (2022 - £3,568).

Amounts owed at year end £nil (2022 - £nil).

The following transactions were undertaken with Mr P A Burbridge, who was a trustee & director of the company: Purchase of services & reimbursement of expenses £2,543 (2022 - £893).

Amounts owed at year end £nil (2022 - £nil).

The following transactions were undertaken with Mrs B Burbridge, who was a trustee & director of the company: Purchase of services & reimbursement of expenses £684 (2022 - £2,154).

Amounts owed at year end £nil (2022 - £nil).

All transactions were undertaken under normal commercial terms and rates.

Trustees of the charity are covered by a 'Directors and Officers' liability policy.

10 Employees

The average monthly number of employees during the year was:

The average monthly number of employees during the year was:
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2023
Number
12
2023
£
162,888
6,370
4,895
174,153		 2022
Number
12
2022
£
160,006
6,847
7,707
174,560

There were no employees whose annual remuneration was more than £60,000.

11 Taxation

The company is a registered charity and on the basis of these financial statements no provision has been made for corporation tax.

RIDING LIGHTS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

12 Transfers

Transfers between unrestricted and restricted funds represent the amounts received during the year for specific performances or projects which had been completed during the year. These restricted funds received for such projects are then deemed to be unrestricted.

13 Tangible fixed assets

Freehold land
and buildings
Lighting and
equipment
Fixtures and
fittings
£
£
£
Cost
At 1 September 2022
420,958
51,243
46,438
Additions
-
6,896
800
At 31 August 2023
420,958
58,139
47,238
Depreciation and impairment
At 1 September 2022
189,957
41,056
44,187
Depreciation charged in the year
7,453
2,174
963
At 31 August 2023
197,410
43,230
45,150
Carrying amount
At 31 August 2023
223,548
14,909
2,088
At 31 August 2022
231,001
10,186
2,251		 Motor
vehicles
£
17,500
-
17,500
11,750
1,900
13,650
3,850
5,750		 Total
£
536,139
7,696
543,835
286,950
12,490
299,440
244,395
249,188

An impairment review of the charity's fixed assets has been undertaken. The net realisable value of the assets concerned has been assessed by estimating their market value. Their value in use has been determined by evaluating present value of the future benefits expected to arise from the continued use of the assets concerned.

The board is satisfied that the values that have been assessed are greater than or equal to their net book values and as such no impairment adjustments are required.

14 Stocks
2023 2022
£ £
Finished goods and goods for resale 500 500

RIDING LIGHTS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

15 Debtors

Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
Other creditors falling due within one year
Trade creditors
Other creditors
Accruals and deferred income		 2023
£
9,596
25,032
3,018
37,646
2023
£
25,620
840
7,370
33,830		 2022
£
3,506
21,907
2,256
27,669
2022
£
2,182
504
12,016
14,702

16 Other creditors falling due within one year

17 Retirement benefit schemes

Defined contribution schemes

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £4,895 (2022 - £7,707).

18 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 Incoming Resources Transfers At 31 August
September resources expended 2023
2022
£ £ £ £ £
Permanent Home Fund 14,662 - (7,453) - 7,209
Acting Up! - 4,650 - (500) 4,150
Inspired - 450 - (450) -
AI Commission 8,300 - - (8,300) -
Inspired Welsh Tour 15,000 4,000 - (19,000) -
The Word Bank - 18,892 - - 18,892
Nearly the Goat - 1,942 - (1,942) -
Max Maxwell filming - 13,395 - (10,395) 3,000
37,962 43,329 (7,453) (40,587) 33,251

RIDING LIGHTS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2023

18 Restricted funds (Continued)
Previous year: At 1 Incoming Resources Transfers At 31 August
September resources expended 2022
2021
£ £ £ £ £
Permanent Home Fund 22,363 - (7,701) - 14,662
Films for Prisons 25,000 - - (25,000) -
AI Commission 8,300 - - - 8,300
Fizzy Finn Finds his Feet - 2,100 - (2,100) -
Welsh Tour - 15,000 - - 15,000
Maryland - 800 - (800) -
Uneasy Sleeps - 51,400 - (51,400) -
My Place - 30,233 - (30,233) -
55,663 99,533 (7,701) (109,533) 37,962

During the course of the year ended 31 March 1998, the Riding Lights Trust began to raise funds in order to finance the acquisition and alteration of a freehold property that was suitable to be used as a theatre, office, store and rehearsal facility. A suitable property was acquired on 7 August 1998 in Friargate, York. The restricted fund was transferred as part of the overall assets and liabilities of the Riding Lights Trust when the company began to operate on 1 November 1998. The direct expenditure represents depreciation charged in respect of the freehold property. The entire depreciation charge has been allocated to the restricted fund.

RL received funding from The Templeton Foundation to commission a new play, The Uneasy Sleeps of Max Maxwell, on the subject of Artificial Intelligence. The play toured in early 2023 and was filmed with funding from ECLAS. The final stages of producing the film are to be completed.

Donations were received on a ‘pay it forward’ basis to support performances of the Christmas play, Nearly the Goat, in schools and communities.

A grant was made by the Representative Body of the Church in Wales towards a new play, Inspired!, which toured in Wales in autumn 2022.

The Word Bank is a fund for new playwriting projects created in memory of Paul Burbridge and opened in June 2023. The fund will close for donations in June 2024.

The Charity often receives donations and grants of a restricted nature, usually relating to specific dramatic productions. These are deemed to be restricted until expenditure in relation to the specific purpose takes place.

Transfers from restricted funds are made when funds received for restricted purposes are deemed unrestricted.

RIDING LIGHTS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

19 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 Incoming Resources Transfers At 31 August Transfers At 31 August
September resources expended 2023
2022
£ £ £ £ £
General funds 552,926 293,076 (408,437) 40,587 478,152
Previous year: At 1 Incoming Resources Transfers At 31 August
September resources expended 2022
2021
£ £ £ £ £
General funds 585,971 253,856 (396,434) 109,533 552,926

20 Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
2023
2023
£
£
Fund balances at 31 August 2023 are represented by:
Tangible assets
237,186
7,209
Current assets/(liabilities)
240,966
26,042
478,152
33,251
Unrestricted
Restricted
funds
funds
2022
2022
£
£
Fund balances at 31 August 2022 are represented by:
Tangible assets
234,526
14,662
Current assets/(liabilities)
318,400
23,300
552,926
37,962		 Total
2023
£
244,395
267,008
511,403
Total
2022
£
249,188
341,700
590,888

21 Related party transactions

Other than those reported in note 9. There were no disclosable related party transactions during the year (2022none).