REGISTERED COMPANY NUMBER: 03737107 (England and Wales) REGISTERED CHARttY NUMBER: 1076399 THEATRE ARTS AcfioN TRusr (A COMPANY LIMITED BY GUARANTEE) UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
THEATRE ARTS ACTION TRUST CONTENTS OF THE FINANCIAL STATEMEMrs FOR THE YEAR ENDED 31 DECEMBER 2023 Page Report ofthe Trustees Independent Emamlner's Report Statement of Flnanclal Actlvltles Balance Sheet 8 to 9 Notes lo the Flnanclal Statements 10 to 20 Detalled Statement of Flnanclal Artlvltles 21 to 22
THEATRE ARTS ACTION TRUST REPORT OF THE TRUSTEES FOR THEYEAR ENDED 31 DEMBER 2023 The trustees who 3re also dirertors of the charity for the purposes of the Companies Act 2006, present thelr report with the financlal statements of the charlty for the year ended 31 Dember 2023. The trustee5 have adopted the provislons of AccountinE and Reportlng by Charlties: Statement of Recommended Pracllce applicable to charitles preparing thelr accounts In accordance with the Financial Reporting Standard applicable In the UK and Republlc of Ireland IFRS 1021 (effective l January 20191. OBJEcfivES AND ACTMTIES Objectives and aim5 The aims and objectives of the Company are, In summary: l. to prov5de and malntaln publk educatlon In drama and the performlng arts; 2. to provlde a building for the residents of the Colthe5ter area and its nelghbourhood for thls purpose, predomlnantly for amateur organisations,. 3. to provSde the opportunltles for teachers of drama and performln8 arts to practise their actlvltles: 4. to advance education by encouraoing the publlc, schools, specia Interest groups. people wlth dlsabllltles and the disadvantaged to take an actlve Interest in drama and arts,. 5. to provlde facllltles for the advancement of health, citizenship and community development and for lelsure-tlme actlvltSes according to rhe Charltles Act 2011. 6. to carry out other charltable actlvitles for the promotion of theatre and the arts Sn the Colchester area. Slgnlftcant gctlvltles The Headgate Theatre opened In March 2002. It15 managed by a Board of Trustees whlch meets regularly to oversee the admlnistration of the Trust, to ensure that it5 oblectlves are met and to ensure that fvnds recelved are applled to Its charitable purposes. The 8oard also satisfies itself that systems are In place to secure compllance with all statutory requlrements and to obtaln value for money. Day to day operatlon Is delegated to a pald Headgate Manager, Buslness Administrator, and Box Offlce Assistant, as well as a dedicated vdunteer Management Group. Effectlve links are malntalned between the Board and the Group through the fact that the Treasurer is a Trustee and member of the Group, whlle the Head8ate Manager, who Is also Chair of the Management Group, reports to each meetlng of the Board, Publlc benellt The CompanVs major purpose Is to hlre the theatre and rehearsal facilities to perfomiing arts groups In the area and thereby to provlde facllltles for wbllc beneflt. The addltion of space at 12 Chapd Street North in 2019, referred to In the Trusteeg report for that year, provlded two broader opportunltles, enabling the expansion of facllltles available to theatre-related actiwty Iperfomiance and rehearsal) whllst providlng hirlng opportunitles to non-theatre organlsatlons and group5 to support the dellvery of the Head8ate's wider objectlves. The frustees confirm that they have referred to the guldance contalned In the Charlty Commlsslon's general guldance on publlc beneflt when revFewing the Trust'5 objectlves and activities.
THEATRE ARTS ACTION TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 ACHIEVEMENT AND PERFORMANCE ChJrStable activities 2023 Saw the Headgate continue to build on its legacy of success and present a wide varlety of productlons to engage our audlences In all genres. The York Reallst. Goodnight Mister Tom, The Addams Famlly, The Mill on the Floss, The Haunting of Hlll House, Vanya and Sonia and Masha and Splke, and Dick Whittington were our Headgate Theatre and Headgate Young Company produrtlons during thls year. Al these performances were well received by audiences and crltlc5 allke, Goodnight Mi5terTom provlded an opportunity for a yOud actor who went on to appear in the West End. We contlnue to be proud of all participants in our prcKluctions, both on stage and off. and are Brateful to all who put In tlme and effort to ensure the Headgate continues to be a vital part of the arts environment In North Essex. In the year, besides innumerable nomlnations, 'Frankenstein' (HTPI and 'How To Disappear Completely and Never 8e Found, IHYCI received 'Best Plav awards In thelr Tespectlve cate8ories from the North Essex Theatre Gulld. Dawn & Dave Klng were recc6nlsed for "their tlreless wk at the Headgate Theatre over many years wlth Honorary Llfe Membershlp of NETG. Headgate Young Company came under new dlrection fer its regular workshops and COnnUed to offer opportunltles to I21 year-olds In the area. Whllst numbers were not a5 Strong as we would like, there contlnues to be a need for US to provlde this opportunlty. Work is being undertaken to create new openings for our young people to develop thls 8eneratlon and thelr work wlthln the Headgate. Members of HYC wrote and delivered a piece at The Colchester Frlnge whlch Is being further developed to dellver In school and youth group settlngs. An encouraging remark received from the head of drama at Colchester Vl Form College ... 'Vle have OFSTED in next week and I put down Headgate Theatre 15peclflcally Young Company) as a stakeholder for our college as you have Influenced our curriculum and work on skllls with students outside of our college 5ettiDg." The Trustees were grateful to Dedham Players who, on winding up thelr long-standlng dramatics company, donated thelr surplus funds to further sUPPC*t the Headgate's work with HYC. The Headgate's equallty, dlverslty, and Incluslon strategy contlnues to be champloned by the Board and we are proud of thls achlevement, This year, through external fundin& we were abk to offer a cultural programme to engage communltles wlthin Colchester and brlng them Into the Headgate. Thls was a highly successful event and opened our doors to users who had not prevlously engaged wlth us. HTP and HYC productions durln8 2023 have Included people wlth physical and neurodivergent needs. The York Reallst was an LGBT+ playperfomed In LGBT+ hSstory month. In October 2023 Trustees met wlth the Cwr Mlchelle Burrows, Colchester City Councifs Portfollo Holder for Culture, Leisure and Herita8e. The meetlng was convened, In par¢ as a result of the Headgate's poor repre5entatlon In the Councifs Cultural Strategy document. but also to ensure the HeadEate remalned vlsible on the cit(s 'cultural skyllne,. The meetlng was posltlve and provlded encoura8ement In view of the Imminent lease renewal dlscu55ion in respect of 14 Chapel St. The Headgate only exlsts through the dedlcation of its volunteers, who take on many aspects of enabling the company to delivèr the Headgate's activity. We remain ever 8Tateful for thelr tlreless effort, enthuslasm, and commitment to provldinB a home for amateur theatre in Colchester.
THEATRE ARTS ACTION TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 FINANaAL REVIEW FSnan¢lal positlon The examlned accounts for the year ended 31 December 2023 record a reductlon in the funds of the Charlty of £42,406. This deficit arises after charging depreciation and amorti5ation of £50,867. Cash holdings Increased over the year by £10.5k. Head8ate Theatre Productions presented well-received performances durlng the year, whlch along wlth other Head8ate admlnlstered activities (ACT V. Headgate Youn8 Company and workshops) contributed slgnlficantly to the financial outcome in 2023. Overheads contlnued to reflect increaslng costs as Inflation remalned a signiflcant feature In 2023. Protectlon from varlable energy prlce5 was secured due to an ongoin8 supply contract which wlll expire In 2024. Trustees and management continue to exercise *tentlon and control in all areas of spend. Reserves pollcy Trustees are obllged to regularly revlew the Trusvs resetves pollcy a5 part of its obllgatlon to the governance of the Trust. It Is the oplnlon of the Trustees that sufflclent reserves remaln available and uncommitted In order to meet an unexpected expendlture leg replacement of plant or fixture51 or to enable the theatre to remaln operational for mlnlmum perlod of two years In the event of business Interruption whllst actlons are taken to moderate Costs in line with a reduced level of Income. FUTURE PLANS The Board contlnues to develop Its strategy towards diverslty and incluslon whlle ensurlng Its obllgatlons towards safeguarding and other matters of governance are met. A strategy to dellver a sustalnable plan to secure the Headgate's future embracing the Companys aims and objectives 15 also In discussion. STRUCTURE, GOVERNANCE AND MANAGEMENT Governln8 documenl As a company Limited by Guarantee, incorporated on 19 March 1999 and re8lstered wlth the Charity Commlsslon on 6 July 1999, the governing document is the Memorandum and Articles of Assoclatlon, under whlch the dlrectors act as Charlty Trustees. Organlsatlonal structure The current organlsational structure con5i5ts of elght directors, two of whom have honorary roles as the Chalr and Treasurer. The powers of the dlrectors are- to appolnt a Chalr from amongtheirnumber: to delegate any of their functions to commlttees of two or more Indlvlduals, at least one of whom must be a member of the management group; to make standlng orders and rules conslstent with the Memorandum and Artlcles of Assoclatlon,
THEATRE ARTS AcfioN TRUST REPORT OF THE TrUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 STRucfuRE, GOVERNANCE AND MANAGEMENT Governance and management Durlng 2023 the Board met on four occaslons: the Mana8ementGroup met on flve occasions. Following the reslgnatlon of Emily Palmer in February 2023, Paul Button was asked to assume the full role of Headgate Manager (previous a 'lob share, wlth Emily). A Business Admln15trator (Kim Anderson) was appointed in June 2023 to support the Headgate Manager wth administrative and operational tasks, princlpally manaoing hlring communlcatlons, contracts, etc with the Headgate's customers, and supervising co-ordinatlon of the volunteer force. Together wlth the Box Off1ce Assistant (Mairead Ladyman) the staff team work collaboratively wlth the volunteer Management Group and Trustees to operate and develop the Headgate a5 an effectlve communlty faclllty. wlth volunteering at Its heart. The staff team are all employed on a part-time basls, accounting for 1.7 full-time equSvalents, The AGM was held at the theatre in June 2023. Three Trustee5 (Jane Blackburn, Pat Gaudln, Marla Calvyl had completed their three-year term and, in accordance wlth the Memorandum and Artlcles of Assoclatlon, were due to stand for re-election or to stsnd down. Jane Blackburn and Pat Gaudin were re-elected as Trustees, Maria Calvy had glven notlce of her intent to retire as a Trustee, for personal reasons. The Chalr had written to Marla, regretfullv accepting her reslgnatlon, and thanking her for her valuable contrlbution to the Board, especially In respect to legal matters. MSke Poole, a dlstin8Uished volunteer, and member of Theatre Arts Action Trust slno Its inceptlon, was elected to the Board at that meetlng. Members present at the AGM agreed to changes to the Management Committee to allow more flexible and effe¢tlve worklng between the Headgate Mana2er and volunteers {facilitsted by sectlon 8 of the Artlcles of Association). The Management Commlttee was replaced a more Informal Management Group, chaired by the Headgate Manager and comprlslng chairs of sub-commlttees Itechnbcal, buslness development, publlcity and marketlng, artistic programrnlng and educatlonl and co-opted volunteers with speclalist knowledge, a5 required. Robert Macaulay was Invlted to join the Board In December 2023. Durlng the year Jlll Knleht and Tony Sharp (January 20241 and Ben Wllls (Aprll 2024} offered thelr reslgnations to the Board, These were accepted wlth regret and messages of thanks for thelr service and contribution to the Board were dellvered to each. Followlng Ben's re5ignatlon, Trustees agreed to work collaboratlvely and to rotate the chair at meetlngs, The Management Group, chalred by Paul 8utton, currently consists of Allson Wheeler, Heidi Mu55ett. Mike Sullivan, Jonathan Davles. Dave KI, Charlle Davlson, Mlke Kerr {Trustee & Treasurer) and Ellzabeth Holford {Company Secretary).
THEATRE ARTS ACTION TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Company number 03737107 (England and Wales) Reglstered Charlly number 1076399 Reglstered offlce Headgate Theatre 14 Chapel St North Colchester Essex C02 7AT Trustees MSJ M Blackburn Ms M B Calvy {reslgned 1216123) MsPAGaudln T M Kerr (Treasurer) C A Sharp Ireslgned 1811124> MsKDKlng Ms J L Knlght Ireslgned 1611124) M W Poole 8 I Wllls Ichalr from 12 June 20231 (reslgned 29141241 Company Secretary Dr E C Holford Independent Examlner Slmon Wellln8, Certlfled Accountant Halne5 Watts Town Wall House Bglkerne Hill Colthester Essex C03 3AD Sollcltors Thompson Smlth & Puxon Stable 6, Stable Road Colchester Essex C02 7GL Bankers HS8C 26 High Street Colchester Essex COI IDQ Approved by order ofthe board of trustees on ... . . and signed on Its behalf by.. s J M Blackburn- Trustee
INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF THEATRE ARTS ACTION TRUST Independent examlner's report to the trustees of Theatre Arts [On Trust (lhe CompanVI report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023, Responslbllltles and basls of report As the charity's trustees of the Company la1 also its dlrectors for the purposes of company lawl you are responsible for the preparatlon of the accounts in accordance with the requirements of the Q)mpanie5 Act 21J061'the 2D06 Act,). Havlng satisfled myself that the accounts of the Company are not requlred to be audlted under Part 16 of the 2006 Act and are eligible for independent examlnation, I report in respect of my examination of your charity's accounts a5 carrled out under Section 145 of the Charities Act 2011 {'the 2011 Act'l. In carryln8 Out my examination I have followed the Directlons 8Sven by the Charlty Commlsslon under Section 145151 Ibl of the 2011 Act. Independent examlner's statement I have completed my examlnation. I confimi that no matters have come to my attention In connectlon wlth the examlnatlon 8lvln8 me cause to belleve: accountlng records were not kept In respect of the Company as required by Section 386 of the 2006 Act,. or the accounts do not attord wlth those records- or the accounts do not comply with the aOunting requlrements of Sectlon 396 of the 2006 Act other than any requlrement that the accounts give a true and fair view which is not a matter considered as part of an Independent examlnatlon- or the accounts have not been prepared In accordance wlth the methods and prlnclples of the Statement of Recommended Practlce for accountlng and reportlng by charltles lappllcable to charltles preparlng thelr accounts in accordance with the Financial ReportiThg Standard applScèble In the UK and Republlc of Ireland IFRS 10211. I have no concerns and have come across no other matters In connectlon with the examlnatlon to which attentlon should be drawn In this report In order to enable a proper understandln8 of the accounts to be reached. -KJLX_ Simon Welling Certified Accountant Halnes Watts Chartered Actountants Town Wall House Balkerne Hlll Colchester Essex C03 3AD 11
THEATRE ARTS AlON TRusr STATEMETrif OF FINANaAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 2023 Total funds 2022 Total funds Unrestricted fund5 Restrlcted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacles 4254 16,515 20,769 42,195 Charltable artlvltlés Headgate Theatre lo959 109,859 109.653 Other tradln8 activities Investment Income 55,151 2,822 55,151 ZA22 53,973 786 Total 172.086 16,515 188,601 206,607 EXPEDJDITURE ON Ralsing funds 27,551 27,552 27,883 Charltable a¢tivltks Headgate Theatre 171,907 31,548 203,455 191,209 Total 199A59 31,548 231,007 219,092 NET INCOME/(EXPENDITLIRE 127,373) (15,0331 142,4061 112,4851 RECONCILIATION OF FUNDS Total funds brought forward 26679 60,777 327,656 340,141 TOTAL FUND5 CARRIED FORWARD 239,506 45,744 285.250 327,656 CONTINUING OPERATIONS All income and expenditure has arlsen frcffi contlnuln8 operations. The notes form part of these financial statements
THEATRE ARTS ACTION TRIJST BALAN SHEET 31 DECEMBER 2023 2023 Total fund5 2022 Total fund5 Unrestricted funds Restricted funds Notes FIXED ASSETS Tangible assets 14 68,639 33,096 101.735 152,602 CURRENT ASSETS Stocks Debtors Cash at bank and In hand Is 16 1,784 11,067 175,626 8,228 171,6ZO 8,228 184,268 12,648 181.252 12,648 193,900 188,477 CREDITORS Amounts falllng due wthln one year 17 110.385) (10,385) (13,423) NEf CURRENT ASSETS I7067 12,648 183,515 175,054 TOTAL ASSEfs LESS CURRENT LIABILITIES 239.506 45,744 285,250 327,656 NET ASSETS 239,506 45,744 285,250 327,656 FUNDS Unrestrlcted funds Restrl¢ted funds 19 239.506 45.744 266,879 60,777 TOTAL FUNDS 285,250 327,656 The notes form part of these financial statements
THEATRE ARTS ACTION TRUST BALANCE SHEET- contlnued 31 DECEMBER 2023 rhp charitable company Is entitled to exemption from audit under Sectlon 477 of the Companles Act 2006 for the year ended 31 December 2023. The members have not required the company to obtain an audlt of its flnancial statements for the year ended 31 December 2023 in accordance with Sectlon 476 of the Companles Act 2(KJ6. The trustees acknowledge their responsibilitles for lal ensuring that the charltable company keeps accounting records that comply with Sectlon5 386 and 387 of the CompaniesAct 2006 and preparlng financlal statements whlch 8ive a true and falr vlew of the state of affairs of the charitable company as at the end of each flnancial year and of its surplus or deficit for each flnancial year in accordance wlth the requlrements of Sections 394 and 395 and which othenNise comply with the requirements of the Companies Act 21J)6 relatin8 to financlal statements, so far as appllcable to the charltable companv. Ibl These flnanclal statements have been prepared in accordance with the provlslons appllcable to charltable companles sublect to the small companies regime. The financial statements were approved by the Board of Trustees and athIsed for Issue on . aThl were slgned on its behalf bv: Blackburn - Trustee T M Kerr-Trus ee The notes fomi part of these financlal statements
THEATRE ARTS AcfioN TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 GENERAL INFORMATION The chaiSty 15 a public beneflt entity and a private company limited by guarantee, Teglstered In England and Wale5 and a registered charity in England and Wale& The maximum liability of each member In the event of the company being dlssolved is £1. The address of the reg15tered (rffice Is The Headgate Theatre. 14 Chapel Street North. Colchester, Essex C02 7AT. The financial Statements are prepared In sterlln& whlch Is the functlonal Currency of the entity. ACCOUNTING POLiaES Basls of pyeparlng the flnanclal statements The financlal statements of the charltsble company, whlch 15 a public benefit entlty under FRS 102. have been prepared In accordance wlth the Charltles SORP IFRS 1021 'Accountlng and Reportlng by Charities.. Statement of Recommended Pfactlce applicable to charltles preparln8 thelr accounts in accordante with the Flnan¢ial Reportlng Standard appllcable in the UK and Republlc of Ireland IFRS 102) (effectlve l January 2019),, Flnanclal Reportlng Standard 102 The Financlal Reporting Standard applScable In the UK and Republlc of Ireland, and the Companle5 Act 2006. The flnancial statements have been prepared under the hlstorlcal cost conventlon. Fund Accountlng Unrestrl¢ted funds can be used In attordance wlth the charitable oblectives at the dlscretlon of the trustees. Designated funds are unrestrirted funds of the charlty which the trustees have declded at thelr dlscretlon to set aslde to use for a speclfic purpose. Restrlcted funds can only be used for parucular restrlcted purposes wlthln the objects of the charlty. Restrlrtlons arlse when speclfied by the donor or when funds are ralsed for partlcu12r restrlcted purposes. Further explanatlon of the nature and purpose of each fund Is Included In the notes to the financlal statements. Income All Income Is recognlsed In the Statement of Financial Activities once the charlty has entltlement 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 'capltsl' grants or 'revenue' grants, Is recognised when the Charlty has entltlement to the funds, any perfomiance condltlons attached to the grants have been me¢ It is probable that the Income wlll be received and the amount can be measured reliably and Is not deferred. For legacles, entitlement 15 taken as the earller of the date on which elther., the Charity 15 aware that probate has been granted, the estate has been finalised and notiflcation has been made by the executor(sl to the Charlty that a dlstributlon will be made. or when a distrlbution is received from the estate. Donatlons and othèr voluntary income are reflected In the accounts for the perlod In vthich they are recelved. DonatSons in kind are recognised by the Charity when received except in the tase of setvlces provlded free or undervalue by voluntary staff or others which are not reflected in the accounts. Tlcket sales are not Included where th Charily Is acting as aBent for the user group. Donated goods are Included at the value to the Charity where this can clearly and easily be quantifled. The value of servlces provided by volunteers ha5 not been induded in these financial ststements. Investment Income Is Included when receivable and comprises bank Interest. -iO-
THEATRE ARTS AcfioN TRUST NOTES TO THE FINANaAL STATEMENTS- contlnued FOR THE YEAR ENDED ai DECEMBER 2023 ACCOUNTING POLICIES- contlnued Expenditure Expendlture Is recognised on an xcruals basis as Ilabilities are Incurred. non-recoverable VAT and 15 rewrted as part of the expenditure to which it relates. Expendlture Includes Costs of ralslng funds comprise the costs associated with attracting voluntary Income and fundralslng activlties. Expendlture on charitable actlvltles comwlses those costs Incurred by the Charity In the delivery of Its activities and Services for its befIcIarle$. Governance costs are Included as support costs and allated to the activltles to which they relate. Tanglble Ilxed assets Fixed assets are stated at cost, less accumulated depreclath)n. The costs of additions less than £1,000 are not capitallsed. Depreciatlon Is provlded at rates calculated to write off the cost of each asset over Its expected Ilfe, as foll0v.. Leasehold property Improvernents- str*ght Ilne over the Ilfe of the lease Fixtures, fittings and equlpment- 20% reduclng balance Stock5 Stocks are valued at the lower of cost and net reallsable value, after maklng due allowance for obsolete and slow movln8 Items. Debtors Debtors are recognlsed at the settlement amount due. Prepayments are valued at the net amount prepaid net of any trade discounts due. Cash at Bahk and In Hand Cash at bank and cash in hand Includes cash, bank and short-temi investments. Credltors Credltors and provlslons are recognlsed where the Charity has a present obllgation resulting from a past event that wlll probably result In a transfer of funds to a third party and the amount due to settle the obllgatlon can be measured or estimated reliably. Creditors and pr(wisions are normally re¢o8nlsed at thelr settlement amount after allowing for any trade dlscounts due. Taxatlon The charity Is exempt from corporation tax on Its charltable actlvities. Hlre purchase and leaslng ¢ommltments Rentals paid under operating leases are charged to the Statement of Flnanclal Activitles on a stralght Ilne basis over the period of the lease. Penslon costs and othèr post-retlrernent beneffts The charitable company operates a defined ContrItIOn pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Actlyities in the perlod to whlch they relate. -li-
THEATRE ARTS ACTICN¥ TRusr NOTES TO THE FINANCIAL STATEMENTS- contknued FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES- contlnued Golng con¢em The accounts are prepared on a golng concern basis as there are no materlal uncertalntles about the Charlty's ability to continue. DONATIONS AND LEGACIES 2023 2022 Donatlon5 Grants Subscrlptions 5.733 15.000 36 3,523 38,667 20,769 42,195 Grants recelved. Included In the above, are as follows: 2023 2022 Colchester Borough CourKII Rent Grant Our Colchester Hervey 8enham Charitable Trust 15,000 15,000 2,667 21,000 Is,000 38,667 OTHER TRADING ACTIVITIES 2023 2022 Headgate Theatre prOdtIonS Workshops productlons Actlvlty Intome 35,982 33,960 4,291 15,722 16,264 55,151 53,973 INVESTMENT INCOME 2023 2022 Oeposlt account interest 822 786 -12-
THEATRE ARTS ACTION TRUST NOTES TO THE F114ANCIAL STATEMENTS- contlDued FOR THE YEAR ENDEO 31 DECEMBER 2023 INCOME FROM CHARrrABLE ACTIVITIES 2023 2022 Headgate Theatre Booklng fees Bar and Ice cream sales Other Income Theatre hlre charges 10,754 33,825 2,829 62,451 9,278 28,789 3,384 68,202 109,859 109,653 CMARITABLE ACTIVITIES cosrs Dlrect Costs (see note 81 Support osts (see note 91 Totals Headgate Theatre 202,735 720 203,455 DIRECT COSTS OF CHARffABLE AcfivrnES 2023 2022 Staff costs Freelance admln support Rent and service charges Rates and water Insurance LSght and heat LScences Cleanln8 Postage, statlonery and teleph Sundrles Bar and ice cream wrchases Tlcket processlng fees Repalrs and malntenance Subscrlptions and donatlons Bank and credit card char8es Depreclatlon 39,692 723 37,248 3,516 s,3 4,813 2,633 IL04Q 1629 4,724 15,538 8,786 13,119 27S 1069 50,867 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 50,867 202,735 190,491 -1>
THEATRE ARTS ACtION TRUST NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 DECEMBER 2023 SUPPORT COSTS Governance C05tS Headgate Theatre 720 Support costs, Incltjded In the above, are as follows: 2023 Headgate Theatre 2022 Headgate Theatre Accountancy fees 720 718 NEf INCOMEIIEXPENDtfuRE) Net In¢ome/lexpendlture) 55 Stated after char8ln81{credltlng)". 2013 2022 Depreclatlon . owned assets Hlre of plant and machlnery other operatlng leases 50.867 723 37,248 50,867 34,998 ii, TRUSTEES, REMUNERATION MD BENEFITS There were no trustees, remuneratlon or other beneflts for the year ended 31 December 2023 nor for the year ended 31 December 2022. Trustees, expenses There were no trustees, expenses pald for the year ended 31 December 2023 nor for the year ended 31 December 2022. 12. STAFF COSTS 20Z3 2022 Wages and salarles Other penslon costs Staff tralnlng 39,065 627 35,220 611 12 39,692 35,843 The avèrage monthly number of employees durlng the year wa5 as follows: Z023 2022 Admlni5tratlve staff No employees recelved emoluments In excess of £60,000. -14-
THEATRE ARTS Acf14JN TRUST NOTES TO THE FINANaAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 DECEMBER 2023 13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unre5trlcted funds Restricted funds Total funds INCOME AND E14DOWMENTS FROM Donatlons and le8acie5 6,195 36,000 42,195 Charltable actlvltles Headgate Theatre 109,653 109,653 other trading activities Investment Income 53,973 786 53,973 786 Total 170,607 36,000 206,607 EXPENDITURE ON Raising fund5 27,883 27,883 Charltable a¢tlvltles Headgate Theatre 159,659 31,550 191,209 Total 187,542 31,550 219,092 NEf INCOME/{EXPENDITUREI 116,9351 4,450 112,4851 RECONCILIATION OF FUNDS Total funds brought forward 283,814 56,327 340, 141 TOTAL FUNDS CARRIED FORWARD 266,879 60,777 327,656 -15-
THEATRE ARTS ACTION TRUST NOTES TO THE FINANCIAL STATEPAENTS- contlnued FOR THE YEAR ENDED 31 DECEMBER 2023 14 TANGIBLE FIXED ASSETS Leasehold property imwovement Fixtures and f ittin8S Totals COST At l January 2023 and 31 December 2023 1148,527 104,519 553,046 DEPRECIATION At l January 2023 Char8e for year 307,390 47,046 93.054 3.821 400,444 50,867 At 31 Dernkner 2023 354,436 96,875 451,511 NET BOOK VALUE At 31 December 2023 94,091 101.735 At 31 December 2022 141,137 11,465 152,602 15. STOCKS 2023 2022 Bar and Ice cream stc(ks 1,404 16. DEB TORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Trade debtors Prepayments and accrued Income 3,755 4,473 7,100 3,967 8,228 11,067 -i&
THEATRE ARTS ACTION TRUSr NOTES TO THE FINANCIAL STATEMENTS-continued FOR THE YEAR ENDED 31 DECEMBER 2023 17. CREDITORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 2023 2022 Trade creditors Accruals and deferred Income S80 9,805 427 12,996 10,385 13,423 18. LEASING AGREEMENTS Mlnlmum lease paymènts under non-cancellable operatlng leases fall due as follows- 2023 2022 Within one year Between one and flve years 33,000 4S, 33,000 78,500 78,500 111,500 The Headgate Theatre114 Chapel Street) lease eXre5 In October 2025. Funds to meet this commltment are provlded by Colchester Borough Council throu8h a grant eath year. The lease agreement related to The Warehouse (12 Chapel Street) explres in October 2026, 19. MOVEMENT IN FUNDS Net movement In funds At 31.12.23 At I,1.23 Unwestrlcted funds General fund Davld Forder Designated Fund 197,603 69,276 14,281) (23,092) 193,322 46,184 266.879 (27,373) 239,506 Restrlcted funds Theatre Renovation Grant Headgate Youth Theatre Sound and Light Equipment Fund Art Councll Grant H8cf Lift Replacement Fund 22,6S6 1,819 14,046 6,506 15.750 17,552) 1,515 IL577) 12,1691 15,104 3,334 12,469 4,337 10,500 60,777 115,033) 45,744 TOTAL FUNDS 327,656 141406) 285,250 -17-
THEATRE ARTS ACTION TRUST NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 DECEMBER 2023 19. MOVEMENT IN FUNDS - continued Net movement In funds, included in the above are as foll5.. Incoming resources Resources expended Movement In fund5 Unrestrlcted funds General fund David Forder Designated Fund 172,086 (176,367) (23,0921 (4.281) {23,092) 172,086 1199.459) 127.3731 Restrlctèd funds Theatre Renovation Grant Rent Grant Headgate Youth Theatre Sound and Llght Equipment Fund Art Council Grant HBCT Llft Replacement Fund (7.552) (15,000) (7,552) Is,000 I15 1,51S 11,5771 12,1691 15,2501 11,577) 12,169) 15,250) 16,515 131,5481 115,0331 TOTAL FUP4D5 188,601 (231,0071 42,4061 Comparatlves for movement In funds Net movement In funds At 31.12.22 At 1.1.22 Unrestrlcted funds General fund Davld Forder Oeslgnated Fund 192,130 91,684 5,473 22,4081 197,603 69,276 283,814 {16,9351 266,879 Restricted funds Theatre Renovation Grant Headgate Youth Theatre Sound and Llght Equlpment Fund Art Council Grant HBCT Lift Replacement Fund 30,209 1,819 15,624 8.675 (7,5531 22,656 1,819 14,046 6,506 15,750 11,5781 12,1691 15,750 56,327 4.450 60,777 TOTAL FUNDS 340,141 112,4851 327,656
THEATRE ARTS ACTION TRusr NOTES TO THE FINANaAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 DECEMBER 2023 19. MOVEMENT IN FLff4DS- continued Comparative net movement in funds, Included in the above are as follows: Incomlng resources Resources expended Movement In fund5 Unrestrlcted lund5 General fund David Forder Designated Fund 170,607 {165,1341 {22.4081 5,473 22,4081 170,607 (187,5421 <16,9351 Restrlrted funds Theatre Renovation Grant Rent Grant Sound and Llght Equlpment Fund Art Council Grant H BCT Llft Replacement Fund 17,5531 lis,0} 11,5781 12,1691 15,250) 17,553} 15,OCK) 11,5781 12,169) 15,750 21,OLM) 36,OL1 131,5501 4,450 TOTAL FUNDS 206,607 219,0921 12,4851 Generdl Fund The fund Is unrestricted and avallable for the general purposes of the Charlty. The fund represents accumulated surpluses of the Charlty. Davld Forder Fund The fund Is unrestrlcted but has been designated by the Trustees for use for a particular purpose. belng now determlned as furKls avallable to expense Improvement5 to the bar and common areas in the theatre bulldlng 12017} and to undertake leasehold Improvements following acquisition of a lease to the adjacent Warehouse bulldlng120181. Durlng 2018 a grant was receNed from the Hervey Benham Charltable Trust to be applled toward5 the cost of Improvements to the Warehouse- thls grant is shown as an addltlon to the Trust's deslgnated funds. The amortisatlon of the imprementS to the Warehouse buildlng Is wrltten olf agalnst thls f und. Theatre Renovatlon Grant The fund Is restricted and represents grants recelved in 2001 and 2(Ki2 fof the renovation of the theatre are belng written off over 25 years In line with the amortisatlon of expendlture on the lon8 leasehold. Rent Grant The fund is restrlcted and represents grants received from Colche5ter Borough Councll and Is equal to the rent due on The Headgate Theatre lease. Headgate Youth Theatre The fund Is restrlcted and Is availalAe to promote arnateur theatre for youngsters. Sound and Llght Equlpment Fund The fund is restricted and represents donations received in 2020 and 2021 to purchase sound and lighting equipment les5 accumulated depreciation to date. -19-
THEATRE ARTS ACTION TRusr NOTES TO ThE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 DECEMBER 2023 19. MOVEMENT IN FUNDS- continued Covld Adaptatlon Grdnts The fund 15 restricted and was avallable to enable the theatre to make adaptatlon5 to become Covld safe. Art Councll Culture Recovery Fund The fund Is restricted and was avallable to enable the theatre to reopen safely followlng c105ure due to Covid re5trlctions. HB Llft Replacement Fund The fund 15 restricted and represents a grant reIVed of £21,000 from the Hervey Benahm Charltable Trust in 2022 to fund the replacement lift at the Headgate Theatre less accumulated depreclation to date. 20. RELATED PARTY DISCLOSURES There were no related party transactlons for the year ended 31 December 2023. -20-
THEATRE ARTS ACTION TRUST DETAILED sfATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 2023 Total fvnds 2022 Total funds Unrestricted fund5 Restrlcted funds INCOME AND ENDOWMENTS Donatlons and legacles Donations Grants 5ubscription5 4.218 1,515 15.000 5,733 15,000 36 3,523 38,667 36 4254 16,515 20,769 42,195 Othertradln8 aCtltIeS Headgate Theatre productlons Workshops productlons Actlvlty Income 35,982 2,905 16,264 35,98Z 2.905 16,264 33,960 4,291 15,722 55.151 55,151 53,973 Investment Income Deposlt account Interest 1822 2,822 786 Charltable adlvltles Booklng fees Bar and Ice cream sale5 other income Theatre hire charges 10.754 33,825 2.829 62.451 10,754 33,825 2,829 62,451 9,278 28,789 3,384 68,202 109,859 109,859 109,653 Total Incomln8 rewurtes 172.086 188,601 206,607 EXPENDITURE Ralslng donatlons and le8acles Advertising and publicity Productlon and activlty Costs 6.079 21,473 6,079 21,473 6,839 21,044 27,552 27,552 27,883 Charltable actl¥ltles Wages Staff tralnlng Penslons Carried forward 39.065 39.065 35,220 12 611 35,843 627 39,692 627 39,692 This page does not form part of the statutoryfinanclal statements -21-
THEATRE ARTS ACTION TRUST DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 2023 Total funds 2022 Total funds Unrestricted funds Restricted funds Charltable actlvltlos Brought forward Freelance admin support Rent and service charges Rates and water Insuran Llght and heat Llcences Cleanlng Postage, statlonery and teleph Sundrles Bar and Ice cream purchases Tlcket processing fees Repalrs and malntenance Subscrlptions and donatlons Bank and credit card charges Long leasehold Flxtures and flttlngs 39,692 723 22.248 3,516 5,063 4.813 2,633 11,040 2,629 4,724 15,538 8,786 13,119 275 2,069 32,075 2.244 39,692 723 37,248 3,516 5.063 4,813 2,633 11,040 2,629 4,724 15,538 8,786 13,119 275 2,069 47,046 3,821 35,843 15,000 34,998 6,183 9,356 611 10, 102 3,051 13,950 7,327 10,731 426 1,996 47,046 3,821 14.971 1.577 171,187 31,548 202,735 190,491 Support costs Governance costs Accountancy fees 720 720 718 Total resources expended 199,459 31,548 231,007 219,092 Net (expendlturelllncome (27,373) (15,033) (42,4061 112,4851 Thls pa8e does not form part of the statutoryfinanual statements -22-