TYNEMOUTH PRIORY THEATRE (A company limited by guarantee) REPORT AND FINANCIAL STATEME TS FOR THE YEAR ENDED 31 MARCH 2024 COMPANY NO.3407455 CHARITY NO. 1071165
TYNEMOUTH PRIORY THEATRE Contents Independent Examinerfs Report 2-.3 Report of the Directors and Trustees Statement of Financial Activities Balan Sht 6-.9 Notes ta the accounts The following page. does not fom part of the .statutory accounts 10 Detailed Statement of Financial Activities
Independent examinerfs report to the trurtees of Tynemouth Priory ThEatre I reporton the.accOUr of the company for the year ended 31 Mar£h 2024. which are set out on pages 2 to 9 Respective responsibilities of trustees and examiner The trustee5 (who.are.also the directors of the company for the purposes of company law) are responsible forthe preparation of theaccounts. The trustees considerthat an audit is not required for this year undersection 144.of the-charities Act 2Ckll (the CharitiesAct).and that an independent examination is needed.. it is my responsibiltyto: examine the accounts under *ction 145 of the Charities Act- follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Charitie5 Act: and state whether p.a"rticular" matters.have come.to my attention. Basis of independent examinerfs report My examination was cartied out in accorda nce with the general Directions given by the Charity Commission. An examination indudes 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 itemsDrdisclosures in the accounts, and seeking explanations from you.as-trustees concerning any such matters. The procedures undertaken do not provide all the eviden that would be required in an audit and consequently no opinion is given as to whetherthe accounts present a 'true and fairVie and the report is limited to those matters set out in the statement below. Independent examinerfsstatement In connection with.riiy examination. no matter has come to my attention to indicate that." accounting records have not been kept in accordance with section 386 ot the Companies Act 2006,. the accounts do not accord with such records.. they fail to comply with relevant accounting requirements under sectioN 396of the Companies Act 2006, or are nDtconsistent with the Chartties SORP IFRS102). • there is any matterwhich, in my opinion, should be drawn to the attention of the reader to gain a proper understanding of the accounts J T Hogg ACA 38 Stanhope Road South Shields NE33 4BT 'st Date: l August 2024 page I
TYNEMOUTh PRIORY THEATRE DIRECTORS. REPORT YEAR ENDED 31st MARCH 2024 The directors have pleasu in presenting their report and the unaudited financial statements of the. charity for the year ended 31st March 2024 INTRODUCTION This report is both the directors report required under the Companies Act 20(.and the trustees. annual report under the Charities Act 2011. LEGAL STATUS Tynemouth Priory Theatre is a private comp.any limtted by guarantee, No 34.07455. incorporated in England and is registered chaiity No. 1071165. It was incorporated on 23rd Septembei 1997 and [5 govemed in accordance with its Memorandum and Articles Of Association, and commenced operations on 1st April 1999. The Company's Registered Office is Percy Street, Tynemouth, NE3Q 4H OBJECTIVES OF TYNEpaoLm4 PRIORY THEATRE The principal objective of tbe Theatre is to promo(e the advancement and rmprovement of general education in relation to aspects of the art of Drama and the development of public appreciation of. such atL STRUCTURE, GOVERNANCE AND MANAGEMENT The members appoint three trusteeldirectots being the Chaiman, Treasurer and Secretary. In addition a management committee is appointed at each Annual General Meeting to manage the operalions of the charity. There are no full time employees and no re_muneration is payable to directors or committee members for management dulles. The directors who served the charity during Ihe year were es follows: MTS A Leake Mrs R H Hardy Miss V L(Kkey ACHIEVEMENTS AND PERFORMANCE There were 4 productions.during the year {2023 5 productions) as the theatre continued to recover from the effects of Covid 19. VOLUNTARY HELP The Theatre is run entirely by voluntary help. covering theatrical. administrative and trustee wort. page 2
TYNEMOUTH PRIORY THEATRE. DIRECTORS. REPORT- continued YEAR ENDED 31st hlARCH 2024 PRODUCTIONS DURINGTHEYEAR. There were four prod.uctions during the year Income from plays as follows Sales Costs Surplus 4,880 6.9Q3 11.334 6,206 Steel Magnolias The Odd Couple Humpty Dumpty Murder By Misadverrture 6369 1489 834 7,636 1,430 Total 6.693 29.323 RESULTS AND FINANCIAL REVIEW The results for the year and the charilvs financial posttion at the end of the year are shown in the attached financial statements.lt is the policy of management to accumulate sufficient reserves to provide for running costs and improvements.to thetheatre, aEthough no spectfic amounts have been set. Of the accumulated reserves, those relatig to fixed assets are not available for running costs{see note 13) PUBLIC BENEFIT As stated above. the principal objective of the Theatre is to promote the advanment and improvement of general education in relalton to aspects of the art of Drama and the development of publiG appreciation of such art. This is achieved not onty by presenting the Theatre's own productions but also. making the building available for other groups and socieltes. thus beneffting the public in the sumunding area. Signed by order of the directors. Registered office: Percy Street Tynemouth V Lockey App.ioved by the directOTS on the 1 st August 2024 page 3
TYNEMOUTH PRIORY THEATRE STATEMENT OF FINANCIAL ACTivrriES YEAR ENDED 31st MARCH 2024 Note Restricted Unrestirted 2024 2024 Total 2024 Total 2023 INCOMING RESOURCES Incoming resources from genprated funds= Voluntary income.. Grants and Donations Investment Income Incoming resources from charitable activitie5 TOTAL INCOMING RESOURC 9.061 9.061 480 8.901 58 47,953 50.253 RESOURCES EXPENDED Charitable Activities Governance Costs 1U:,908 29.583 10,90& 29.583 13.544 TOTAL RESOURCES EXPENDED 40.491 NET INCOMING RESOURCES FOR THE YEAR 9,762 .9,762 21.563 Balance brought forward 4,000 351.981 355,981 Balance carried fonvard 4,000 361.743 365.743 355,981 The statementof financial actsviknes includes all gains and losses in the year. All incorDing resources and resourcesexpended derive.from continuing arttvities.
TYNEMOUTH PRIORY THEATRE BALANCE SHEET AS AT 31st MARCH 2024 2024 2023 FIXED ASSETS Tangible Assets (note 9) 306.,08.1 301 ,297 CURRENT ASSETS Debtors (note 10) Cash at bank and in hand 4,739 62,416 67.155 4.385 .54.203 58.588 CREDITORS:Amounts falling due within one year (note 11) 3.904 NET CURRENT ASSEfsi(LIABILITIES) 59.662 54,684 TOTAL NET ASSErs 365.743 355,981 FUNDS Restricted Unrestricted (note. 12) (note 12) 4.000 361,743 365 743 4,000 351,981 355 981 For the year ended 31 st March 2024 the company was entitled to. exemptionfrom the 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 under section 476.of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordan with the provisions applicable to.companies subject to the small companies regime and. in accordance with FRS102 SORP Approved by the directors on 1 st August2024 and signed on their behalf by. Miss V Lockey Mrs R H Hardy page 5
TYNEMOUTH PRIORY THEATRE. NOTES TO THE.FINANCIAL STATEMENTS YEAR ENDED 31st IAARCH 2024 ACCOUNTING POLICIES Basis of accounting The financial stalemertts"" have been"prepared under ht51orical cost conventiorr: with items recognise£S at cost and Ei accotdan(x with the stslemenl.of Recommended Practice.. Accounting and Reling by Charities yeparing their aGcciunts in accordance with the Financwl ReFLlrtirwJ Slandard applicable in the UK IFRS 102) issued on 16 July 2014 Change of A¢¢ounting PoScy The accounls.present a true"an"d fair view atKI no changes have made to accounting policies or estlnth. No material prioryear eThots have en n the accounting period- Recognition of income" All incoming resources are incbjed in.the:Statsm" entof Finan0& ActMtE> (SOFA) when.the charity is entilled to inciNne. it is more.than Ikely that the inccKne be." received and the monetary value can be.Mea5ured.ryth SLrffiaent rel?lty Offsetting There has been no offsettirwJ (rfassets and fiabilies. or income and eynses. Grants and donations Grants and donations aonlY inclEKled in the SOFA""when the general ncome recognition criteria are" Income from MembehIP subs.criptions Membership subscriptiaw"thtch"give a member the rightto Serv or otsr benefits are recognises as iDcomefrom tharitable activitE5. Expenditure and liabilities Expenditure is recognised on an accnjals basa5 a liknility 15 Incurred. Charitable expenditure compri495 those costs" incurred by thè charity in deliveryuf its activities and seNits5.. Governance costs iricludvthose"costs assocÉated wifh TT*eting the constttuironal and slatulory requirements and indude managemen( prenyses administrattve costs. Deferred income is indudeda5 a ablty in.the accounts. Tangible Fix¢d assels" These are capitalised if Ilw can be used.for more than"Or year lhr cost is considered material. They a"valued at cost" The depreciation rates and.methLMls.used are.disdosed in.note 9. Debtors Debtors are measttred on nilial.recognition.3t."settTement.amounl aThg subsequenty measured al the cash..or"other con5Kleration expected to:be".rKerved. page 6
TYNEMOUTH PRIO.RY THEATRE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31st MARCH 2024 Income Donations and Legacies Restn'cted Unrestricted Total 2024 Total 2023 Donations and gifts Other 7,969 1.092 9.061 7.969 1,092 9,061 1,058 8,901 Charitable Activities Income from plays Subscriptions other 36,016 1,581 36016 1,581 42679 1,135 4,139 47,953 40,712 Income from investments Interest on bank deposits 480 58 Total income 50.253 50,253 56,912 CHARITABLE ACTIVITIES Restricted Unrestncted Total 2024 Total 2023 Provision of charitable seNi Expenditure on plays stage materials Donations given Cost of ancilliary sales Other costs 6.693 .3.150 883 70 112 10,908 6.693 3,150 883 70 112 10.908 8266 2,077 250 1031 1,920 13,544 GOVERNANCE COSTS Restricted Unrestricted Total 2024 Total 2023 General overheads 29.583 .29.583 29,583 29.583 21,805 TOTAL RESOURCES EXPENDED Staff costs Depreciation Other costs Totsl 2024 Total 2023 Charitable Activities Governan Costs 10.908 10.908 29,583 40,491 13,544 21,805 35,349 1,196 1,196 39,295
TYNEMOUTH PRIORY THEATRE NOTES.TO THE FINANCIAL STATEMENTS YEAR ENDED 31st MARCH 2024 INDEPENDENT EXAMINER 2024 2023 Independent examine¢s fees Other fees- consultancy and .accountancy Other expense- Soflware subscription 780 412 408 732 235 375 1342 STAFF COSTS AND NUMBERS The Theatre doe5 not employ. stsff. TAXATION As a charity. Tynemouth Priory Theatre is exempt from taxon income and gains. falling within section 505 of the Taxes Act 1988 or $256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applie.d to its. charitable objects. No tax charges have arisen in the Charity. TANGIBLE FIXED ASSET.S Freehold Fixtures Fittings & Equipment Totsl Cost At 1 st April 2023 Additions At 31st March 2024 301,297 66,608 5,980 367.905 5,980 373,885 301,297 Depreciation At 1st April 2023 Charge for year At 31 st March 2024 66.608 1,196 67.804 66,608 1.196 67.804 Net Book Value At 31 st March 2024 301,297 4.784 306.081 At 31 st March.2023 301,297 301,297 Depreciation Depreciation is calculated so as to write off the cost of an asse( less its estimated residual value, over the useful.economic life of that asset as follows:. Fixtures fittings and equipment- 20°A p.er annum straight line No depreciation is provided on the freehold building as it is the charity.s policy to maintain the building. in such condition that its value is not diminished by the passage of time. Such eendIture is charged in the Statement of Financial Activities. The value of the building is regularly reviewed to ensure that its market v.alue is not lower than its book value and the trustees: consider market value to be materially in excess of cost p.age 8
TYNEAqOUTH PRIORYTHEATRE NOTES TO THE FINAMCIAL STATEMENTS YEAR ENDED 31st MARCH 2024 10. Debtors and Prep.ayments 2024 Debtors and prepayments 4.739 4.739 11. CREDITORS:Amounts falling due within one year 2024 Acciuals and deferred income 7.493 7.493 3.904 Deferred income {includea above}: Ticket sales received in advan 6.67.2 2.840 12. MOVEMENT IN FUNDS Opening Movement Transfer Closing Unrestricted Fund General fund Bursary Total Unrestricted Funds 342,017 9,762 351.779 351,981 9,762 361.743 Restricted Fund: Building eXtenSn Total 4,(100 355.981 4.000 365.743 BURSARY The bursary is an unrestricted fvnd donated to help fund the theatre's.activities. PURPOSE OF RESTRICTED FUND Building extension.- The fund_ consists of grants received to assist with the costs. of building an extension tothe theatre, wotk on which was completed during the year ended 31st March 2010. 13. ANALYSIS OF NEf ASSEfs IN FUNDS Tangible Other Net Total Fixed Assets Assets Unrestricted funds Building extension fund 302,081 4,000 306,081 59.662 4.000 59.662 365.743 Of the net funds of the chatity. £,081 comFxise red assets and do nottherefore. represent liquid funds readily convertible.to cash and available to use for operations. TRANSACTIONS WITH TRUS.TEES.AND RELATED PARTIES There are no transactions with trustees-to report . 14. COMPANY LIMFTED BY GUARANTEE The liability of each member in theevent of the company Eing Und up is limited to £1.00 page g