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2022-12-31-accounts

REGISTERED COMPANY NUMBER: 03737107 (England and Wales) REGISTERED CHARITY NUMBER: 1076399

THEATRE ARTS ACTION TRUST (A COMPANY LIMITED BY GUARANTEE)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

THEATRE ARTS ACTION TRUST

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

----- Start of picture text -----
Page
Report of the Trustees 1 to 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9 to 10
Notes to the Financial Statements 11 to 21
Detailed Statement of Financial Activities 22 to 23
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THEATRE ARTS ACTION TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The aims and objectives of the Company are, in summary:

  1. to provide and maintain public education in drama and the performing arts;

  2. to provide a building for the inhabitants of the Colchester area and its neighbourhood for this purpose, predominantly for amateur organisations;

  3. to provide the opportunities for teachers of drama and performing arts to practise their activities;

  4. to advance education by encouraging the public, schools, the disabled and the disadvantaged to take an active interest in drama and arts generally;

  5. to provide facilities for the advancement of health, citizenship and community development and for leisure-time activities according to The Charities Act 2011

  6. to carry out other charitable activities for the promotion of theatre and the arts in the Colchester area.

Significant activities

The Headgate Theatre opened in March 2002. It is managed by a Board of Trustees which meets regularly to oversee the administration of the Trust, to ensure that its objectives are met and to ensure that funds received are applied to its charitable purposes. The Board also satisfies itself that systems are in place to secure compliance with all statutory requirements and to obtain value for money. Day to day operation is delegated to a paid Headgate Manager and a volunteer Management Committee. Effective links are maintained between the Board and the Committee through the fact that the Treasurer is a Trustee, while the Headgate Manager, who is also Chair of the Management Committee, reports to each meeting of the Board.

Public benefit

The major policy is to hire the theatre and rehearsal facilities to performing arts groups in the area and thereby to provide facilities for public benefit. The addition of space at 12 Chapel Street North in 2019, referred to in the report for that year, provided two broad opportunities. It enables the expansion of facilities available to theatre-related activities, including performances and rehearsals, and it allows a certain amount of hiring to non-theatre organisations and groups in order to provide finance to support the delivery of the Headgate's objectives.

The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's objectives and activities.

-1-

THEATRE ARTS ACTION TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022

ACHIEVEMENT AND PERFORMANCE

Charitable activities

2022 finished triumphantly with a strong and varied programme of artistically and financially successful productions, playing to full houses.

The year had started quietly, with audiences understandably still anxious about Covid, but the tide turned steadily and energies built through the summer and into the autumn. There was wide variety: the contemporary challenge of Mosquitoes, the traditional comic mayhem of She Stoops to Conquer, the dramatic and technical challenges of How to Disappear Completely and Never Be Found, the innovative script and staging of Frankenstein and the carefree charm of The Boy Friend (Platform Musicals) were only part of a continual stream of enjoyable and rewarding theatre. Such major productions were interspersed with a wide range of other shows including the welcome return of Colchester Fringe. As ever, the year was rounded off by the wonderful Headgate pantomime.

The strong showing of the Headgate in the North Essex Theatre Guild award nominations for 2021-2022 is testament to the quality of the work on offer to our audiences.

The Headgate programme of performances was augmented by workshops, classes and other activities.

The relative quiet of January 2022, combined with a generous grant from the Hervey Benham Trust, allowed the replacement and upgrading of the Headgate's lift, making the bar and Studio accessible to all once more. Preparation for replacement of a boiler was put in hand.

Throughout the year the Management Committee and Board have continued to:

Trustees continued discussions with the freeholders of 12 and 14 Chapel Street to extend the leases to TAAT. We are grateful to the landlord of 12 Chapel Street for a rent rebate in the early part of the year.

The Board would like to take this opportunity to record its grateful thanks to the committed and dedicated group of volunteers who gave freely of their time and energies in 2022 to enable The Headgate to be used as and when Covid restrictions allowed, to maintain the building and to carry out many of the activities outlined in this report. In this regard we would like to thank in particular Dawn and David King.

We would also like to thank our Treasurer, Mike Kerr for his continual vigilance and care, the Company Secretary, Matthew Young and the Headgate staff, principally Katie Wright.

FINANCIAL REVIEW

Financial position

The accounts for 2022 present an encouraging result despite recording a deficit on Heeadgate activity of £16,935. Despite the loss of Covid subsidies available in 2020 & 2021, revenue from hire of Headgate spaces returned to prepandemic levels. Headgate Theatre Productions presented well-received performances during the year, and along with other Headgate administered activities (ACT V, Headgate Young Company and workshops) contributed significantly to the financial outcome in 2022.

The replacement lift installation was completed with generous financial support from the Hervey Benham Charitable Trust, contributing 50% of the cost.

-2-

THEATRE ARTS ACTION TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022

Overheads reflected increasing costs as inflation returned in 2022 and initiatives such as the new booking system were implemented, while essential work to the building’s plant and fabric undertaken. Protection from the increase in energy costs was secured due to a supply contract in place expiring in 2024. Trustees and management continue to exercise control in all areas of spend.

Reserves policy

Trustees are obliged to regularly review the Trust’s reserves policy as part of its obligation to the governance of the Trust.

In the opinion of the Trustees sufficient reserves remain available and uncommitted in order to meet an unexpected expenditure (eg replacement of plant or fixtures) or to enable the theatre to remain operational for a minimum period of 2 years in the event of business interruption whilst actions are taken to moderate costs in line with a reduced level of income.

FUTURE PLANS

As well as ongoing governance and oversight of the Trust’s activities, the trustees have begun approaches to the landlords of 12 & 14 Chapel Street to discuss renewal of property leases. The trustees continue to review the strategy for the Headgate and the building’s role as a significant community venue in Colchester, and will continue to seek out interested individuals with relevant skills to join the board.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

As a company Limited by Guarantee, incorporated on 19 March 1999 and registered with the Charity Commission on 6 July 1999, the governing document is the Memorandum and Articles of Association, under which the directors act as Charity Trustees.

Organisational structure

The current organisational structure consists of eight directors, two of whom have honorary roles as the Chair and Treasurer.

The duties of the directors are -

The Board met on five occasions during the year, briefed by the chair of the Management Committee and the Treasurer. In the course of the year Trustees worked together, and with staff and volunteers, to develop a strategy to increase equality, diversity and integration at the Headgate. This will be developed into an operational plan in the coming years. An improved sustainability strategy is developing. As part of its regular monitoring, the Board received reports at each meeting about any safeguarding issues and on health and safety matters.

In the autumn of 2022 the Trustees appointed two individuals, Paul Button and Emily Palmer, to job share as Headgate Manager. That followed the resignation of the previous postholder, Katie Wright, for personal reasons. We are grateful to Katie for the changes she introduced and wish her well. During the two months prior to the new Manager(s) coming into post, David King ably stepped in to lead the volunteer team as acting Manager. Throughout this period he and other key volunteers kept the theatre running as normal, despite a very busy performance and rehearsal schedule.

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THEATRE ARTS ACTION TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022

Together, our new Headgate Manager(s) brought broad and extensive experience to the role. The job responsibilities are wide-ranging. Reporting to the Chair of Trustees and working together with the Headgate Assistant, Mairead Ladyman, the Manager is charged with managing and motivating staff and volunteers. Working collaboratively with the volunteer Management Committee and Trustees, their task is to operate and develop the Headgate as an effective community facility, with volunteering at its heart. [Subsequently, in 2023, Emily has moved on but Paul continues in post.]

The AGM was held in the theatre in July.

Malcolm Kimmance and Tony Sharp stood down as Trustees by rotation, in accordance with the Memorandum and Articles of Association. Tony Sharp, Ben Wills and Mike Poole were elected as Trustees, joining Jane Blackburn, Maria Calvy, Pat Gaudin, Mike Kerr, Dawn King and Jill Knight. Malcolm Kimmance had decided to retire as a trustee. He was warmly thanked for his service on the Board and the excellent support he has given to the Theatre as a Trustee and volunteer, Malcolm was offered, and accepted, the position of Honorary Vice President.

The new Management Committee; Dean Horler, Tony Saitta, David King, Dawn King, Alison Wheeler, Mike Sullivan, Jonathan Davis, Shannon Hannah, Heidi Mussett, Mike Kerr (Treasurer) and Matthew Young (Company Secretary), was elected. Mike Poole had decided to step down from the Management Committee to serve as a trustee. He was warmly thanked for his long, dedicated and committed service on the Committee.

-4-

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022

THEATRE ARTS ACTION TRUST

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 03737107 (England and Wales)

Registered Charity number 1076399

Registered office Headgate Theatre 14 Chapel St North Colchester Essex CO2 7AT

Trustees Ms J M Blackburn (Chair) Ms M B Calvy Ms P A Gaudin T M Kerr (Treasurer) M C Kimmance (retired 11/7/22) C A Sharp (Vice Chair) Ms K D King Ms J L Knight M W Poole (appointed 11/7/22) B I Wills (appointed 11/7/22) Company Secretary M P Young Independent Examiner Simon Welling Haines Watts Chartered Accountants Town Wall House Balkerne Hill Colchester Essex CO3 3AD

Solicitors Thompson Smith & Puxon Stable 6, Stable Road Colchester Essex CO2 7GL

Bankers HSBC 26 High Street Colchester Essex CO1 1DQ

-5-

THEATRE ARTS ACTION TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022

Approved by order of the board of trustees on .............................................. and signed on its behalf by:

.................................................................... Ms J M Blackburn - Trustee

-6-

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THEATRE ARTS ACTION TRUST

Independent examiner's report to the trustees of Theatre Arts Action Trust ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2022.

Responsibilities and basis of report

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

Having satisfied myself that the accounts of the Company 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 your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

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:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

  2. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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

  3. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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 accounts to be reached.

Simon Welling The Association of Chartered Certified Accountants

Haines Watts Chartered Accountants Town Wall House Balkerne Hill Colchester Essex CO3 3AD

Date: .............................................

-7-

THEATRE ARTS ACTION TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
3
6,195
Charitable activities
6
Headgate Theatre
109,653
Other trading activities
4
53,973
Investment income
5
786
Total
170,607
EXPENDITURE ON
Raising funds
27,883
Charitable activities
Headgate Theatre
7
159,659
Total
187,542
NET INCOME/(EXPENDITURE)
(16,935)
RECONCILIATION OF FUNDS
Total funds brought forward
283,814
TOTAL FUNDS CARRIED FORWARD
266,879
CONTINUING OPERATIONS		 Restricted
funds
£
36,000
-
-
-
36,000
-
31,550
31,550
4,450
56,327
60,777		 2022
Total
funds
£
42,195
109,653
53,973
786
206,607
27,883
191,209
219,092
(12,485)
340,141
327,656		 2021
Total
funds
£
116,164
49,902
40,834
699
207,599
22,679
161,938
184,617
22,982
317,159
340,141

All income and expenditure has arisen from continuing operations.

The notes form part of these financial statements

-8-

THEATRE ARTS ACTION TRUST

BALANCE SHEET 31 DECEMBER 2022

Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
14
102,958
CURRENT ASSETS
Stocks
15
1,784
Debtors
16
11,067
Cash at bank and in hand
164,493
177,344
CREDITORS
Amounts falling due within one year
17
(13,423)
NET CURRENT ASSETS
163,921
TOTAL ASSETS LESS CURRENT LIABILITIES
266,879
NET ASSETS
266,879
FUNDS
19
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
funds
£
49,644
-
-
11,133
11,133
-
11,133
60,777
60,777		 2022
Total
funds
£
152,602
1,784
11,067
175,626
188,477
(13,423)
175,054
327,656
327,656
266,879
60,777
327,656		 2021
Total
funds
£
159,625
859
34,814
160,718
196,391
(15,875)
180,516
340,141
340,141
283,814
56,327
340,141

The notes form part of these financial statements

-9-

THEATRE ARTS ACTION TRUST

BALANCE SHEET - continued 31 DECEMBER 2022

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

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

The financial statements were approved by the Board of Trustees and authorised for issue on . ........................................... and were signed on its behalf by:

.............................................

J M Blackburn - Trustee

.............................................

T M Kerr - Trustee

The notes form part of these financial statements

THEATRE ARTS ACTION TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1. GENERAL INFORMATION

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The maximum liability of each member in the event of the company being dissolved is £1.

The address of the registered office is The Headgate Theatre, 14 Chapel Street North, Colchester, Essex CO2 7AT.

The financial statements are prepared in sterling, which is the functional currency of the entity.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Fund Accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Income from government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the Charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

For legacies, entitlement is taken as the earlier of the date on which either: the Charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Charity that a distribution will be made, or when a distribution is received from the estate.

Donations and other voluntary income are reflected in the accounts for the period in which they are received. Donations in kind are recognised by the Charity when received except in the case of services provided free or undervalue by voluntary staff or others which are not reflected in the accounts.

Ticket sales are not included where the Charity is acting as agent for the user group.

Donated goods are included at the value to the Charity where this can clearly and easily be quantified. The value of services provided by volunteers has not been included in these financial statements.

Investment income is included when receivable and comprises bank interest.

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THEATRE ARTS ACTION TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

2. ACCOUNTING POLICIES - continued

Expenditure

Expenditure is recognised on an accruals basis as liabilities are incurred. Expenditure includes non-recoverable VAT and is reported as part of the expenditure to which it relates.

Costs of raising funds comprise the costs associated with attracting voluntary income and fundraising activities.

Expenditure on charitable activities comprises those costs incurred by the Charity in the delivery of its activities and services for its beneficiaries.

Governance costs are included as support costs and allocated to the activities to which they relate.

Tangible fixed assets

Fixed assets are stated at cost, less accumulated depreciation. The costs of additions less than £1,000 are not capitalised. Depreciation is provided at rates calculated to write off the cost of each asset over its expected life, as follows:

Leasehold property improvements - straight line over the life of the lease Fixtures, fittings and equipment - 20% reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Debtors

Debtors are recognised at the settlement amount due. Prepayments are valued at the net amount prepaid net of any trade discounts due.

Cash at Bank and in Hand

Cash at bank and cash in hand includes cash, bank and short-term investments.

Creditors

Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in a 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.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

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THEATRE ARTS ACTION TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

2. ACCOUNTING POLICIES - continued

Going concern

The accounts are prepared on a going concern basis as there are no material uncertainties about the Charity's ability to continue.

3. DONATIONS AND LEGACIES

3.
DONATIONS AND LEGACIES
Donations
Grants
Subscriptions
Grants received, included in the above, are as follows:
Colchester Borough Council Rent Grant
Colchester Borough Council Covid Grants
Theatres Trust Covid Adaptations
Art Council Culture Recovery Fund
Our Colchester
Hervey Benham Charitable Trust
4.
OTHER TRADING ACTIVITIES
Headgate Theatre productions
Workshops productions
Activity income		 2022
£
3,523
38,667
5
42,195
2022
£
15,000
-
-
-
2,667
21,000
38,667
2022
£
33,960
4,291
15,722
53,973		 2021
£
19,348
96,796
20
116,164
2021
£
15,000
16,621
5,000
60,175
-
-
96,796
2021
£
20,288
4,169
16,377
40,834

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THEATRE ARTS ACTION TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

5. INVESTMENT INCOME

Deposit account interest
6.
INCOME FROM CHARITABLE ACTIVITIES
Headgate Theatre
Booking fees
Bar and ice cream sales
Other income
Theatre hire charges
7.
CHARITABLE ACTIVITIES COSTS
Headgate Theatre
8.
DIRECT COSTS OF CHARITABLE ACTIVITIES
Staff costs
Rent and service charges
Rates and water
Insurance
Light and heat
Licences
Cleaning
Postage, stationery and telephones
Sundries
Bar and ice cream purchases
Ticket processing fees
Repairs and maintenance
Subscriptions and donations
Bank and credit card charges
Covid adaptations
Depreciation		 Direct
Costs (see
note 8)
£
190,491		 2022
£
786
2022
£
9,278
28,789
3,384
68,202
109,653
Support
costs (see
note 9)
£
718
2022
£
35,843
34,998
2,800
6,183
9,356
611
10,102
2,250
3,051
13,950
7,327
10,731
426
1,996
-
50,867
190,491		 2021
£
699
2021
£
4,385
12,827
1,173
31,517
49,902
Totals
£
191,209
2021
£
25,634
33,630
655
5,725
7,534
794
8,290
2,556
856
5,982
3,695
14,303
329
1,245
9,678
39,908
160,814

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THEATRE ARTS ACTION TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

9. SUPPORT COSTS

----- Start of picture text -----
Governance
costs
£
Headgate Theatre 718
Support costs, included in the above, are as follows:
2022 2021
Headgate Headgate
Theatre Theatre
£ £
Accountancy fees 718 1,124
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
2022 2021
£ £
Depreciation - owned assets 50,867 39,908
Other operating leases 34,998 33,630
----- End of picture text -----

10. NET INCOME/(EXPENDITURE)

11. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.

12. STAFF COSTS

STAFF COSTS
Wages and salaries
Other pension costs
Staff training
The average monthly number of employees during the year was as follows:		 2022
£
35,220
611
12
35,843		 2021
£
24,557
423
654
25,634
Administrative staff 2022
2		 2021
2

No employees received emoluments in excess of £60,000.

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THEATRE ARTS ACTION TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

----- Start of picture text -----
13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
funds funds funds
£ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 20,916 95,248 116,164
Charitable activities
-
Headgate Theatre 49,902 49,902
-
Other trading activities 40,834 40,834
Investment income 699 - 699
Total 112,351 95,248 207,599
EXPENDITURE ON
Raising funds 20,744 1,935 22,679
Charitable activities
Headgate Theatre 104,705 57,233 161,938
Total 125,449 59,168 184,617
NET INCOME/(EXPENDITURE) (13,098) 36,080 22,982
Transfers between funds 22,500 (22,500) -
Net movement in funds 9,402 13,580 22,982
RECONCILIATION OF FUNDS
Total funds brought forward 274,412 42,747 317,159
TOTAL FUNDS CARRIED FORWARD 283,814 56,327 340,141
----- End of picture text -----

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THEATRE ARTS ACTION TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

14. TANGIBLE FIXED ASSETS

Leasehold
property
improvement
£
COST
At 1 January 2022
406,535
Additions
41,992
At 31 December 2022
448,527
DEPRECIATION
At 1 January 2022
260,344
Charge for year
47,046
At 31 December 2022
307,390
NET BOOK VALUE
At 31 December 2022
141,137
At 31 December 2021
146,191
15.
STOCKS
Bar and ice cream stocks
16.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
Prepayments and accrued income		 Fixtures
and
fittings
£
102,667
1,852
104,519
89,233
3,821
93,054
11,465
13,434
2022
£
1,784
2022
£
7,100
-
3,967
11,067		 Fixtures
and
fittings
£
102,667
1,852
104,519
89,233
3,821
93,054
11,465
13,434
2022
£
1,784
2022
£
7,100
-
3,967
11,067		 Totals
£
509,202
43,844		 Totals
£
509,202
43,844		 Totals
£
509,202
43,844
553,046
349,577
50,867
400,444
152,602
159,625
2021
£
859
2021
£
1,995
18,539
14,280		 2021
£
859
34,814

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THEATRE ARTS ACTION TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022
£
Trade creditors
427
Accruals and deferred income
12,996
13,423
LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
2022
£
Within one year
33,000
Between one and five years
78,500
111,500		 2021
£
5,658
10,217
15,875
2021
£
33,000
111,500		 2021
£
5,658
10,217
15,875
144,500

18. LEASING AGREEMENTS

The Headgate Theatre (14 Chapel Street) lease expires in October 2025. Funds to meet this commitment are provided by Colchester Borough Council through a grant each year.

The lease agreement related to The Warehouse (12 Chapel Street) expires in October 2026.

19. MOVEMENT IN FUNDS

Unrestricted funds
General fund
David Forder Designated Fund
Restricted funds
Theatre Renovation Grant
Headgate Youth Theatre
Sound and Light Equipment Fund
Art Council Grant
HBCT Lift Replacement Fund
TOTAL FUNDS		 At 1.1.22
£
192,130
91,684
283,814
30,209
1,819
15,624
8,675
-
56,327
340,141		 Net
movement
in funds
£
5,473
(22,408)
(16,935)
(7,553)
-
(1,578)
(2,169)
15,750
4,450
**(12,485) **		 At
31.12.22
£
197,603
69,276
266,879
22,656
1,819
14,046
6,506
15,750
60,777
327,656

-18-

THEATRE ARTS ACTION TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

19. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
David Forder Designated Fund
Restricted funds
Theatre Renovation Grant
Rent Grant
Sound and Light Equipment Fund
Art Council Grant
HBCT Lift Replacement Fund
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
David Forder Designated Fund
Restricted funds
Theatre Renovation Grant
Headgate Youth Theatre
Sound and Light Equipment Fund
Covid Adaptation Grant
Art Council Grant
TOTAL FUNDS		 At 1.1.21
£
159,408
115,004
274,412
37,762
1,819
1,666
1,500
-
42,747
317,159		 Incoming
resources
£
170,607
-
170,607
-
15,000
-
-
21,000
36,000
206,607
Net
movement
in funds
£
10,222
(23,320)
(13,098)
(7,553)
-
13,958
(1,500)
31,175
36,080
22,982		 Resources
Movement
expended
in funds
£
£
(165,134)
5,473
(22,408)
(22,408)
(187,542)
(16,935)
(7,553)
(7,553)
(15,000)
-
(1,578)
(1,578)
(2,169)
(2,169)
(5,250)
15,750
(31,550)
4,450
(219,092)
(12,485)
Transfers
between
At
funds
31.12.21
£
£
22,500
192,130
-
91,684
22,500
283,814
-
30,209
-
1,819
-
15,624
-
-
(22,500)
8,675
(22,500)
56,327
-
340,141

-19-

THEATRE ARTS ACTION TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

19. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
David Forder Designated Fund
Restricted funds
Theatre Renovation Grant
Rent Grant
Sound and Light Equipment Fund
Covid Adaptation Grant
Art Council Grant
TOTAL FUNDS
General Fund		 Incoming
resources
£
112,351
-
112,351
-
15,000
15,073
5,000
60,175
95,248
207,599		 Resources
Movement
expended
in funds
£
£
(102,129)
10,222
(23,320)
(23,320)
(125,449)
(13,098)
(7,553)
(7,553)
(15,000)
-
(1,115)
13,958
(6,500)
(1,500)
(29,000)
31,175
(59,168)
36,080
(184,617)
22,982

The fund is unrestricted and available for the general purposes of the Charity. The fund represents surpluses of accumulated the Charity.

David Forder Fund

The fund is unrestricted but has been designated by the Trustees for use for a particular purpose, being now determined as funds available to expense improvements to the bar and common areas in the theatre building (2017) and to undertake leasehold improvements following acquisition of a lease to the adjacent Warehouse building (2018). During 2018 a grant was received from the Hervey Benham Charitable Trust to be applied towards the cost of improvements to the Warehouse; this grant is shown as an addition to the Trust's designated funds. The amortisation of the improvements to the Warehouse building is written off against this fund.

Theatre Renovation Grant

The fund is restricted and represents grants received in 2001 and 2002 for the renovation of the theatre are being written off over 25 years in line with the amortisation of expenditure on the long leasehold.

Rent Grant

The fund is restricted and represents grants received from Colchester Borough Council and is equal to the rent due on The Headgate Theatre lease.

Headgate Youth Theatre

The fund is restricted and is available to promote amateur theatre for youngsters.

Sound and Light Equipment Fund

The fund is restricted and represents donations received in 2020 and 2021 to purchase sound and lighting equipment less accumulated depreciation to date.

-20-

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

THEATRE ARTS ACTION TRUST

19. MOVEMENT IN FUNDS - continued

Covid Adaptation Grants

The fund is restricted and was available to enable the theatre to make adaptations to become Covid safe.

Art Council Culture Recovery Fund

The fund is restricted and was available to enable the theatre to reopen safely following closure due to Covid restrictions.

HBCT Replacement Lift Fund

The fund is restricted and represents a grant received of £21,000 from the Hervey Benahm Charitable Trust in 2022 to fund the replacement lift at the Headgate Theatre less accumulated depreciation to date.

20. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2022.

-21-

THEATRE ARTS ACTION TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022

Unrestricted
funds
Restricted
funds
£
£
INCOME AND ENDOWMENTS
Donations and legacies
Donations
3,523
-
Grants
2,667
36,000
Subscriptions
5
-
6,195
36,000
Other trading activities
Headgate Theatre productions
33,960
-
Workshops productions
4,291
-
Activity income
15,722
-
53,973
-
Investment income
Deposit account interest
786
-
Charitable activities
Booking fees
9,278
-
Bar and ice cream sales
28,789
-
Other income
3,384
-
Theatre hire charges
68,202
-
109,653
-
Total incoming resources
170,607
36,000
EXPENDITURE
Raising donations and legacies
Advertising and publicity
6,839
-
Production and activity costs
21,044
-
27,883
-
Charitable activities
Wages
35,220
-
Staff training
12
-
Pensions
611
-
Carried forward
35,843
-		 2022
Total
funds
£
3,523
38,667
5
42,195
33,960
4,291
15,722
53,973
786
9,278
28,789
3,384
68,202
109,653
206,607
6,839
21,044
27,883
35,220
12
611
35,843		 2021
Total
funds
£
19,348
96,796
20
116,164
20,288
4,169
16,377
40,834
699
4,385
12,827
1,173
31,517
49,902
207,599
5,205
17,474
22,679
24,557
654
423
25,634

This page does not form part of the statutory financial statements

-22-

THEATRE ARTS ACTION TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022

Unrestricted
funds
Restricted
funds
£
£
Charitable activities
Brought forward
35,843
-
Rent and service charges
19,998
15,000
Rates and water
2,800
-
Insurance
6,183
-
Light and heat
9,356
-
Licences
611
-
Cleaning
10,102
-
Postage, stationery and telephones
2,250
-
Sundries
3,051
-
Bar and ice cream purchases
13,950
-
Ticket processing fees
7,327
-
Repairs and maintenance
10,731
-
Subscriptions and donations
426
-
Bank and credit card charges
1,996
-
Covid adaptations
-
-
Long leasehold
32,074
14,972
Fixtures and fittings
2,243
1,578
158,941
31,550
Support costs
Governance costs
Accountancy fees
718
-
Total resources expended
187,542
31,550
Net income
(16,935)
4,450		 2022
Total
funds
£
35,843
34,998
2,800
6,183
9,356
611
10,102
2,250
3,051
13,950
7,327
10,731
426
1,996
-
47,046
3,821
190,491
718
219,092
**(12,485) **		 2021
Total
funds
£
25,634
33,630
655
5,725
7,534
794
8,290
2,556
856
5,982
3,695
14,303
329
1,245
9,678
36,549
3,359
160,814
1,124
184,617
22,982

This page does not form part of the statutory financial statements

-23-