REGISTERED COMPANY NUMBER: 03737107 IEngland and Wales) REGISTERED CHARITY NUMBER: 107.6399 THEATRE ARTS ACTION TRUST {A COMPANY LIMITED BY GUARANTEE) UNAUOITE D FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
THEATRE ARTS AcfioN TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Page Report of the Trustees Independent Examlner's Report Statement of Flnanclal ktlvltles Balance Sheet 9 to 10 Notes to the Flnanclal Statements 11 to 21 Detalled Statement of Flnanclal Actlvltles 22 to 23
THEATRE ARTS ACTION TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The tru5tee5 who are also directors for the charlty for the purposes of the Companies Act 2006, present their report with the flnanclal statements of the charlty fix the year ended 31 December 2024. The trustees have adopted the provision5 of Accounting and ReportlnB by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance wlth the Financlal Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 leffectlve l January 20191. OBJEcfivES AND ACTIVITIES Oblectlves and alms The aims and objectives of the Company are. In summary: l. to provSde and maSntaln publlc educatlon In drama and the performlng arts. 2. to provide a building for the Inhabitants of the Colchester area and its neighbourhood for thls purpose, for amateur oiganisations. 3. to provide the opportunities for teachers of drama and performine arts to practise their actlvitles. 4. to advance educatlon by encouraglng the publlc, schools, people wlth an impairment, condltlon or illne55, and the disadvantaged to take an active Interest In drama and arts. 5. to provlde facllltles for the advancement of health, cltlzenshlp, and communlty development and for lelsure-tlme actSvlties accordlng to The Charitles Act 2011 6. to carry out other charitable actlvitles for the promotion of theatre and the arts In the Colchester area. Slgnlflcant actl¥ltles The Head8ate Theatre opened in March 2002. It is managed by a Board of Trustees whlch meets regularly to oversee the admln15tTatlon of the Trust, to ensure that Its oblectlves are met and to ensure that funds recelved are applSed to Its charltable purposes. The Board also satisfles Itself that systems are In place to secure compllance wlth all statutory requlrements and to obtaln value for money. Day to day operatlon Is delegated to a Management Group and effective links have been maintalned between the Board and the Group through the Headgate Manager lemployeel who attend& and reports to each meeting of the 8oard. Publlc benefSt The Company's major purpose is to hlre the theatre and rehearsal facilities to performing arts groups in the area and thereby to provlde facllitie5 for publlc beneflt. The addition of the Spaces In 2019, referred to In the report for that year, provlded two broad opportunltles. It enables the expansion of facilitles available to Iheatre-related activlties, Includlng performances and rehearsals, and it allows a certain amount of hirin8 to non-theatre organisatlons and groups to provlde flnance to support the dellvery of the Headgate's obhectlves. In response to ihe expanded facilitles and the loosening of Covld lockdown, in Aprll 2021 the Trustees appolnted a Headgate Manager. Reportlng to the Chair of Trustees, the Manager is charged wlth managing and motlvating staff and volunteers. working collaboratively with the volunfeer Management Group and Trustees to operate and develop the Headgate as an effectlve community facility, still run by volunteer5. Development of the Management Group continue5, flrming up pollcies and practice5 to ensure that the theatre contlnues to comply wlth the requislte legal obllgatlons, The Trustees confirm that they have referred to the guidance contained in the Charlty Commission's general Euidance ori publlc benefit when reviewing the Trust's objectives and activities.
THEATRE ARTS ACTION TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED31 DECEMBER 2024 ACHIEVEMENT AND PERFORMANCE CharltablÈ actlvltles 2024 a8aln saw the Headgate contlnulng to bulld on Its leRacy of succe55 and present a wide range of productions to engage our audlences In all genre& Indeed, during the reporting period our own Headgate Theatre Production5 together with the Headgate Young Company, were actively enga8ed In: 7 Productions 3 Workshops - (Up Close & Personall Radlon Mlc FittingNamosl l Major Presentatlon for Perfofmers and Tech Teams I Pitch Session for the 2025 Programme We welcomed two experienced dlrectors who were new to Headgate Theatre Productlons - Chrlssle Kettle, (Snake in the Grassl and Shella FosteT (The Two Gentlemen of Veronal and two directors Sharon Carter and Toby Roberts, who were worklnE lolntly on thelr flrst major theatre productlon IEquus). Together wlth our other dlrectors, Wade Ablltt. Andrew Hodgson, Paul Davie5, and Sarah Young they dellvered a programme whlch was not only varled but of exceptlonal quality., both on stage and in the technlcal achievements. 79 dlfferent performers took part In our productSons over the year, wlth only 3 of them appearlng more than one Headgate Theatre Production. 44 of those performers were either brand new to HTP or had not appeared at the Headgate Theatre for some tlme. It was also gratifying to see one of new pantomime youngsters from December 2023 develop in sl<ill sufficiently to take on one of the maln roles In Shakespeare's Two Gentlemen of Verona. We also saw some great emerglng talent in the HYC productlon of A Monster Calls, both on off stage. Yet again our productlons secured several sl8nlflcant awards at the annual North Essex Theatre Gulld.. Connor Pratchett was awarded Best Supporilng Actor for "a dynamic and subtly shaded, Robbie Fay In A MAN OF NO IMPORTANCE." Matt lewson won Best Actor for, "a very expresslve performan. wlth great comic tlmlng, as Gomez Addams In THE ADDAMS FAMILY." The Lyndon Award for Technlcal Achlevement was Jolntly awarded to IlghtSng and sound In three Headgate produ¢lions.'. "the beautlful & atmospherlc deslgn/operation by Marlln Rayner In SNAKE IN THE GRASS & GHOSTS for. Headgate Theatre Productions and the mystical atmospherlc lighting & sound desl8n/operation by the young team of Danlel Farquharson, Amelle Charlton and PratiyU5h Prakkashkumar in A MONSTER CALLS for Headgate Young Company Shola Osiyemi won Best Young Actor for, the compellin& commanding, and resonant Monster Sn A MONSTER CALLS A Best Actress award went to Laura HS11 for. 'showing a complex range of emotions in an intense performance of restrained passlon, as Helene Alving in GHOSTS.. Durlng 2024 there were 58 public events whlch Included muslcals. drama and new wTlting and special interest events, The overall attendance durlng th15 reportlng period was some 81%. Two of these events were fundralsers on behalf of.the Headgate Theatre and we are delighted to thank both Phil Toms (classical pianist) and Emma Nash who were Four Hands" and the Colchester Buskers. We have agaln engaged with the local Schools to facilitate event5 for Year5 6 and 11 students. It Is both encouraglng and rewardlng to see how these young people develop iheir confidence through embracing thelr performance skllls. We are always overwhelmed at the commitment of the school staff and parent supporters who facilitate these actlvitles.
THEATRE ARTS ACTION TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 Similarly, a few local dance schoo15 elther hold perforanceS or hollday workshops with us, helping to develop the talent ' for the future. Some of this talent can be seen in production5 from Thc Performlng Arts, who are an accredited stag8 academy and provide professlonal tralnlng and development for ages 18+. The Head%ate was aEain the maln base for the Cokhester Fringe, which has grown enormously slnce it was flrst established in 2021. We are worklng to make full use of our studio and rehearsal spaces for perforManS as well as accommodatlng actlvities during the day. We Currently directly provide drama and theatre workshops for older people and host the Silver Swan5 ballet Class, as well as a few wellbeing classes. Adult drama skills are now belng developed through the successful launch of Stagecraft@Headgate classes, whSlst young drama enthusiasts contlnue to enjoy Saturday mornlngs wlth IKATSI Klds Amateur Theatre Skllls. DurSng 2024, we launched our Studlo Sesslons-evenlnES in our studlo or the rehearsal room where small scale events can be held - whether they be rehearsed readlngs. slmply staged plays, recitals or'scratch nlghts" FINANCIAL REVIEW Flnancial posltlon The examlned accounts for the year ended 31st December 2024 record a reductlon In the funds of the Charlty of £21,483. This deflclt arises alter charglng depreclatlon arnortlsatlon of £50.868. Cash holdlngs Increased over the year by £33,432. Headgate Theatre Productlons presented well-received performance5 during the year, whith along wlth other Headgate admlnlstered acilvlties (Acr v. Headgate Young Company and workshops) contSnue to contrlbute signiflcantly to the flnancial outcome In the year. Trustees and management continue to exerclse attentlon and control In all areas of spend. Re5eYve5 poIIcy Trustees are obllged to regularly revlew the Trust's reserves policy as part of Its obligation to the governance of the Trust, It Is the opinlon of the Trustees that sufflclent reserves remaln avallable and uncijmmltted in order to meet an unexpected expenditure leg replacement of plant or flxtures) or to enable the theatre to remaln operational for a mlnlmum period of two years in the event of busines5 Interruption whilst actions are taken to moderate costs In Ilne wlth a reduced level of Income. FUTURE PLANS During August 2024, the trustees appointed a small trustee working group consisting of George Branagh, Pat Gaudin and. Sallle Mills Lewis to develop a workplan together with a workshop. Resultant frorn the same it was subsequently agreed by the Trustees in December 2024 that we would send out an open Invitatlon to Headgate volunteers, frlends, hlrers. performers, Dlre¢tors and producers, audlence attendees. technicians. staff and creative Colchester enthuslasts to join with us at a 'Now and Next, workshop to be held in January 2025. This proposed workshop will aim to disCUS5'. What do we offer our community in the neKt ten years? What are your hopes7 How do we make it happen?
THEATRE ARTS ACTION TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The trustee5 look forward to an enlightening, strategic and creative workshop which will provide a dynamic all-incluslve springboard taklng the Headgate forward to 2030 and beyond. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document As a company Llmited by Guarantee, Incorporated on 19 March 1999 and reg15tered wlth the Charlty Commisslon on 6 July 1999, the governlng document Is the Memorandum and Articles of Assoclatlon, under whlch the dlrectors act as Charity Trustees. Organlsatlonal structure The current organlsètlonal structure was duri July 2024 Increased by two thereby we now have ten dlrectors, four of whom have honorary roles, Chair. 2 x Vlce Chairs and Treasurer. The powers of dlrectors are.. To appolnt a Chair from among thelr number If deslred to appoint vlce chalrlsl To delegate any of thelr functlons to groups of two or more Indlvlduals, at least one of whom must be a trustee or a member of the management group, To make standlng orders and rules conslstent wlth the Memorandum and Artlcles of Assoclatlon Resultin8 from annual rotatlon four of our trustees stood down and dld not seek re-electlon. We would therefore Ilke to thank, Jane Blackburn, Tony Sharp, Jlll Knight, and Ben Willi5, for all thelr help and support durlng their trusteeship. In consequence and in antlclpation of these reslgnations, in June 2024 the trustees held an Informal meeting to discus5, interview, and select a few potentlal trustees. It is encouraging to report that desplte Increasing our number of trustees from eight to ten, the number of applicants exceeded the number of vacancies. Having prevlously agreed the trustee. skills/lnterest requirements the following new trustees were appolnted to the Theatre Arts Action Trust,
THEATRE ARTS AcfioN TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDEO 31 DECEMBER 2024 STRUCTURE, GOVERNANCE AND MANAGEME NT Sarah Baxter - expertlse In diversity and incluslon. data insights and financial reportlng. Sarah has performed on.the Head8ate stage, is a member of Stagecraft for adult actors. and has also had a short play she wrote staged at Headgate. George Branagh - Spent 30+ years In pollclng as a Senlor Detectlve Officer, has a wlde spectrum of experience, In leadership, strateglc gold commander and negotlating skills. He is a graduate from Bramshlll Pollce Staff College and the Defence Academy Advanced Command and Staff Course. Alison Gaukroger - has been a Drama and Performing Arts teacher for 33 years. She has been at the Sixth Form College, Colchester for 30 year5 and is currently Head of Performlng Art& Glll Green - has an academic and health research back8round as a Inow almost-retiredl Professor at the School of Health and Soclal Care at the University of Essex. She has experience of academic and research leadership as Head of the School and as Olrector of the National Institute of Health Researth, Research Design Servlce for the East of England. Robert Macaulay - tralned and quallfied as a licensed conveyancer. He practised as a conveyancèr, Increaslngly as commerclal conveyancer, for over 20 year5. He retlred from belng a property lawyer In 2022, Sallie Mills Lewls - has over 20 years of senlor management and leadership in the publlc sector, actln8 as Deputy chlef Executive of NHS North Essex before runnln8 her own consultancy for clients In the NHS, local goverrsment, and voluntary Sector. Sallle Is passionate about the local theatre scene. Her main Interests are nurturlng emerBing theatre talent, encouraging drama Innovation. and inspiring future generatlons of theatre lovers. In addltlon to the foregoing, and following the reslgnation of Ellzabeth Holford our Company Secretary, we are dellghted to report that in June 2024 Marcus Almond took over as the Company Secretary. Marcus has enjoyed volunteerlng backstage for the Colchester Operatic Soclety on several of thelr recent productlon5 and at the Headgate was luckv enough to be an ASM on the wondeTful Vanya and Sonia and Masha and Splke productlon In 2023, as well as the brllliant Panlomime in the same year, REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Company number 03737107 IEngland and Wales) Re8lslered Charlty number 1076399 Registered offlce Headgate Theatre 14 Chapel St North Colchester Essex C02 7AT
THEATRE ARTS ACTION TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees M5 J M Blackburn Iresl6ned 1517124} M5 P A Gaudln T M Kerr ITreasurerl C A Sharp (resigned 18111241 MsKDKing Ms J L Knlght (resigned 16111241 M W PoDle B I Wi115 (resigned 6/SI241 R Macaulay (appointed 22111241 G Branagh Ichair) lappointed 15171241 Mrs S Mllls-lewis lappoSnted 15171241 Mr5 A G¢Jukroer lappolnted 15171241 Mr5 G Green lappolnted 15171241 Mrs S 8axter lappolnted 15171241 Company Secretary Dr E C Holford (resigned 20161241 M Almond {appolnted 15171241 Independent Examlner Slmon Welllng TC Group A¢countants Town Wall House Balkerne Hill Colchester Essex C03 3AD Sollcltors Thompson Smlth & Puxon Stable 6 Stable Road Colchester Essex C02 7GL Bankers HSBC 26 High Street Colchester Essex COI IDQ 23 Approved by order of the board of trustees on ................-...-........-.......... . and signed on Its behalf by., GBra Trustee
INDEPENDENTEXAMINER'S REPORTTO THETRUSTEES OF THEATRE ARTS ACTION TRUST Independent examlner's report to the tru5tee5 01 Theatre Arts ktlon Trust ('the Company,) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024. Re5ponslbllltles and basls of report As the charlty's trustees of the Company land also its dlrectors for the purposes of company lawl you are responslble for the preparation of the accounts in accordance with the requlrements of the Companies Act 20061'the 2006 Act'l. Having satlsfied myself that the accounts of the Company are not requlred to be audited under Part 16 of the 2006 Act and are ellelble for Independent examination, I report in respect of my examlnatlon of your charlty's accounts as carried out under Seetlon 145 of the Charlties Act 2011 I'the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charlty Commission under Section 145{$1 Ibl of the 2011 Act. Independent examlner's statement I have completed my examlnation. I conflrm that no matters have come to my attention In connectlon wlth the examlnatlon glvlng me cause to belSeve: accounting records were not kept In respect of the Company as required by Section 386 of the 2006 Act,, or the accounts do not aOrd wlth th05e records,. or the accounts do not comply with the accounting requlrements of Section 396 of the 2006 Act other than any requlrement that the accounts give a true and falr vlew whlch is not a matter consSdered as part of an IndeperFdent examlnatlon,. or the accounts have not been prepared in accordance wlth the methods and principles of the Statement of Recommended Practlce for accounllng and reporting by charitles lappllcable to charStles preparing thelr accounts in accordance wlth the Flnancial Reporting Standard appllcable In the UK and Republic of Ireland IFRS 10211. I have no concerns and have tome across no other matters In connectlon with the examlnatlon to whlch attentlon should be drawn In this report in order to enable a proper understandlng of the accounts to be reached. Slmon Welllng The AssoclatSon of Chartered Certified Accountants TC Group Accountants Town Wall House Balkerne Hlll Colchester Essex C03 3AD Date,.
THEATRE ARTS ACTION TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDÉD 31 DECEMBER 2024 2024 Total funds 2023 Total futfjds Unrestricted funds Restricted funds Note5 INCOME AND ENDOWMENTS FROM Donatlons and legacies 3,319 15,000 18,319 20,769 ChafStable actlvltles Headgate Theatre IIS,479 135,479 109,859 Oiher tradlng actlvitles Investment income 52.122 5,897 5Z,122 5,897 55,151 2,822 Total 196,817 15,000 211,817 188,601 EXPENDITURE ON Raislng fund5 24.913 24,913 27,552 Charltable actlvltles Headgate Theatre 176,839 31,548 208,387 203,455 Total 201,752 31,548 233,300 231,007 NET INCOMEIIEXPENDITURE) 14,9351 116,5481 121,483) 142,4061 RECONCILIATION OF FUNDS Total funds brought forward 239,506 45,744 285,250 327,656 TOTAL FUNDS CARRIED FORWARD 234,571 29,196 263,767 285,250 CONTINUING OPERATIONS All Income and expendlture has arisen from continuing operations. The notes form part of these financial 5tatement5
THEATRE ARTS ACTION TRUST BALANCE SHEET 31 DECEMBER 2024 2024 Total funds 2023 Total funds Unrestricted funds Restricted funds Notes FIXED ASSETS Tanglble assets 14 34,319 16,548 50,867 101,735 CURRENT ASSETS Stocks Debtors Cash at bank and In hand 15 16 1,520 7,454 205,052 1,520 7,454 217,700 1,404 8,228 184,268 12,648 214,026 12,648 226,674 193,900 CREDITORS Amounts falling due wlthln one year 17 113,774) 113,7741 110,3851 NET CURRENT ASSETS 200,252 12,648 212,900 183,51S TOTAI ASSETS LESS CURRENT LIA81LITIES Z34,571 29,196 263,767 285,250 NET ASSETS 234,571 29,196 263,767 285,250 FUNDS Unrestrlcted funds Restricted funds 19 234,571 29,196 239,506 45,744 TOTAL FUNDS 263,767 285,250 The notes form part of these fironcial statements
THEATRE ARTS AcfioN TRUST BALANCE SHEET- contlhued 31 DECEMBER 2024 The charltable company is entltled to exemption from audlt under Sectlon 477 of the Companles Act 2006 for the year ended 31 December 2024. The members have not required the company to obtain an audlt of Its financial statements for the year ended 31 December 2024 In accordance with Section 476 of the Companles Act 2Crf)6, The trustees acknowledge thelr responslbilltles for lal ensuring that the charitable company keeps accounting record5 that comply with Sectlons 386 and 387 of the Companles Act 2006 and preparSng financial statements which give a true and fair view of the state of affairs of the charltable company as at the end of each flnanclal year and of its SUrU5 or deficlt for each flnanclal year In accordance wlth the requlrements of Sections 394 and 395 and whlch otherwise comply wlth the requlrements of the Companles Act 2006 relating to financlal statements, so far as applicable to the charitable company. Ibl These flnanclal statements have been prepared In accordance wlth the prowsions applicable to charltable companles sublect to the small companles regime, The flnancSal statements were approved by the Board of Trustees and authorlsed for155ue on and were sSgned on its behalf by: 22 ranagh- Trustee TMKerr-Tru tee The notes form part of these financial statements -iO-
THEATRE ARTS ACTION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 DECEMBER 2024 GENERAL INFORMATION The charlty Is a publlc benefit entlty and a private company limited by guarantee, reglstered In England and Wale5 and a registered charity in England and Wales. The maximum liability of each member in the event of the companv being dissolved is £1. The address of the reglstered office is The Headgate Theatre, 14 chapel Street North, Colche5ter, E55ex C02 7AT.' The financSal statements are prepared In Pound Sterling 1£). whlch Is the functional currency of the entity, rounded to the nearest Pound. ACCOUNTING POIICIES Basts of preparlng the flnanclal statements The flnancial statements of the charitable company, whlch Is a public benefit entlty under FRS 102, have been prepared in accordance wlth the Chèritle5 50RP IFRS 1021 'Accountlng and Reporting by Charities.. Statement. of Recommended Practice appllcable to charitles preparing their accounts In accordance wlth the Financial Reportlng Standard appllcable In the UK and Republlc of Ireland IFRS 1021 leffectlve l January 20191,, Financlal Reportlng standard 102 'The Flnanclal Reporting Standard appllcable In the UK and Republlc of Ireland, and the Companles Act 2006. The flnanclal statemenls have been prepared under the hlstorlcal cost convention. Fund Accountlng Ursrèstricted funds can be used In accordance with the charitable objectives at the discretion of the trustees, Deslgnated funds are unrestrlcted funds of the charity which the trustees have declded at thelr dlscretlon to Set side to use for a speciflc purpose. Restrlcted funds Can only be used for partlcular restrlcted purposes wlthin the object5 of the charlty, Restrictions arlse when speclfied by the donor or when funds are ralsed for particular restricted purposes. Further explanation of the nature and purpose of each fund Is Included In the notes to the flnancial statements. In¢ome All income Is recognlsed in the Statement of Financi31 Activitles once the charity has entltlemerst to the funds, it Is probable that the income will be received and the amount be measured reliably. Income from government and other grants. whether 'capltal' grants or 'revenue' grants, is recognlsed when the Charlty has entitlement to the funds, any performance Conditions attached to the grant5 have been 'met, It Is probable that the income will be recelved and the amount can be measured reliably and is not deferred, For legacles, entiilement Is taken as the earlier of the date on whlch elther: the charityls aware that probate hos been granted, the estate has been fSna115ed and notification has been made by the executor{sl to the Charity that distribution wlll 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 recelved. Donations In kSnd are recognised by the Charity when reiVed except in the case of servlces provlded free or undervalue by voluntary staff or others which are not reflecled in the actounts. 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 thls can clearly and easily be quantified. The value of setvice5 provlded by volunteers has not been Included In these financial statements. -li-
THEATRE ARTS ACTION TRUST NOTES TO THE FINANCIAL STATEMENTS . contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES - continued Income Investment Income is included when receivable and comprises bank Interest, Expenditure Expendlture Is recognised on an accruals basi5 as llolItIeS are Incurred. Expendlture InclLtdes non-recoverHble VAT and is reported a5 part of the expenditure to whlch It relates. Costs of ralslng funds comprlse the costs associated with attractlng voluntary In¢ome and fundralslng actlvitles. ExpenditUTe on charltable actlvitles comprlses those costs Incurred by the Charlty in the dellvery of Its actlvltles and servlces for Its benefSclarSes. Governance costs are included as support costs and allocated to the actlvitles to whlch they relate. Tanglble flxed assels Flxed assets are stated at cost, less accumulated depreclation, The costs of addltlons less than £1,000 are not capltallsed. Depreclatlon15 provlded at rates calculated to wrlte off the cost of each asset over Its expected life, as follows.. Leasehold property Improvements- straight line over the life of the lease Fixtures. fittlngs and equipment- 20% strai8ht Ilne Stocks Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete apd slow movlng items. Debtors Debtors are reco8nlsed at the settlement amount due. Prepayments are valued at the net amount prepald net of, any trade dlscounts due. Cash at Bank and In Hand Cash at bank and cash In hand includes cash, bartrk and short-temi Investments. Credltors Creditors and provisions are recognlsed where the Charity has è 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 obllgatlon can be measured or estimated rellably. Credltors and provisions are normally recogn15ed at thelr settlement amount after allowing for any trade diountS due. Taxatlon The charity is exempt from corporatlon tax on its charitable activities. Hlre purchase and loaslng commltments Rentals p31d under operating leases are charged to the Statement of Financial Actlvitles on a stralght,Ilne basis over the period of the lease. -12-
THEATRE ARTS ACTION TRUST NOTES TO THE FINANCIAL STATEMENTS- contlhued FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES- contlnued Penslon costs and other post-retlrement benefits The charitable company operates a defined contrlbutlon pension scheme. Contrlbutlons payable to the charitable company'5 pension scheme are charged to the Ststement of Financial Activilies in the period to whlch they relate, Golng concem The accounts are prepared on a going concern basis as there are no material uncertalntles about the Charity,? ability to continue. DONATIONS AND LEGACIES 2024 2023 Donations Grants Subscrlptlons 3,284 15,000 35 15,000 36 18,319 20,769 Grants recelved, Included in the above. ale a5 follow5: 2024 2023 Colchester City Councll Rent Grant 15,000 ' 15,000 , OTHER TRADING ACTIVITIES 2024 2023 Headgate Theatre productions Workshops productions Activity Income 33,864 350 17,908 , 35,982 2,905 16,264 52,122 55,151 -13-
THEATRE ARTS ACTION TRUST NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 INVESTMENTINCOME 2024 2023 Deposit account interest 5,897 2,822 INCOME FROM CHARITABLE ACTIVITIES 2024 2023 Headgate Theatre Booking fees Bar and ice cream sales Other Income Theatre hire charges 9,139 37,165 3,495 8S,680 10,754 33,825 2,829 62,451 135,479 109,859 CHARITABLE ACTIVITIES COSTS Dlrect Costs Isee note 8) Support costslsee note 91 Totals Head8ate Theatre 207,177 1,210 208,387 DIRECT COSTS OF CHARITABLE ACTIVITIES 2024 2023 Staff costs Freelance admln support Rent and servlce charges Rates and water Insurance Light and heat LScence5 Cleaning Postage, statlonery and telephone Sundrles Bar and Ice cream purchases Ticket processing fees Repalrs and maintenance Ssjbscriptions and donalions Bank and credit card charges Depreciation 41,957 ' 39,69l 723 37,248 3,516 5,063 38,669 2,195 5,508 8,668 2,089 10,079 2,607 3,560 16,029 8,234 14.429 277 2,008 50,868 2,633 11,040 2,629 4,724 15,538 8,786 13, lig 275 2,069 50,867 207,177 202.735 -14-
THEATRE ARTS ACTION TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 SUPPORT COSTS Governance costs . Headgate Theatre 1,210 Support cost5, included In the above, are as follows: 2024 Headgate Theatre 20>3 Headgate 'Theatre Independent examlnatlon fees Accountancy fees 300 910 270 450 1,210 720 io. NET INCOMEIIEXPENDITUREI Net incomellexpenditurel Is stated after chargingllcreditingl,. 2024 2023 Depreciation- owned assets Hire of plant and machinery Other operating leases 50,868 50,867 723 37,248 38,669 ii. TRUSTEES, REMUNERATION AND BENEFITS The trustees are deemed to be tl* key management personnel of the charlty. There were no trustees, remuneratlon or other benefits for the year eIed 31 December 2024 or for the year ended 31 December 2023. Trustees. expenses There were no trustees, expenses pald for the year ended 31 December2024 nor for the year'ended 31 December 2023, -15-
THEATRE ARTS ACTION TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 12. STAFF COSTS 2024 2023, Wa8es and salarles Other pension costs 41,280 677 39,065 627 41,957 39,692 The average monthly number of employee5 durlng the year was as follows: 2024 2023 AdmlnSstratlve staff No employee5 recelved emolument5 In excess of £60.Oc. 13, COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestrlcted funds Restrlcted fund5 Total funds INCOME AND ENDOWMENTS FROM Donations and legacie5 4,254 16,SlS 20,769 Charltable acilvltles Headgate Theatre 109,859 109,859 Other tradin8 actlvltles I nvestment Income 55,151 2,822 2,822 Total 172,086 16,515 188,601 EXPENDITURE ON Raising funds 27,552 27,552 . CharSt3ble actSvltles Headgate Theatre 171,907 31,548 203,455 Total 199.459 31,548 231,007 NET INCOME/{EXPENDITURE> 127,3731 115,0331 142,4061 RECONCILIATION OF FUNDS Total funds brought forward 266,879 60,777 327,656 TOTAL FUNDS CARRIED FORWARD 239,506 45,744 285,250 -16-
THEATRE ARTS ACTION TRUST NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 14. TANGIBLE FIXED ASSETS Leasehold property improvement Flxture5 and rittings Tot.als. COST At l January 2024 and 31 Oecember 2024 448,527 104,519 553,046 DEPRECIATION At l January 2024 Charge for year 354,436 47,046 96,875 3,822 451,311 , 50,868 At 31 December 2024 401,482 100,697 502,179 NET BOOK VALUE At 31 December 2024 47,045 3,822 50,867 At 31 December 2023 94,091 7,644 101,735 15. STOCKS 2024 2023 Bar and ite Cream stocks 1,520 1.404 16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtor5 Prepayments and accrued income 3,294 4,160 3,755 4,473 7,454 8,228 -17-
THEATRE ARTS ACTION TRUST NOTES TO THE FINANCIAI STATEMENTS- contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade credltors Accruals and deferred Income 1,413 12,361 580 9,805 13,774 10.385 18. LEASING AGREEMENTS Mlnlmum Sease payments under non-cancellable operatlng leases fall due as follows: 2024 2023 Wlthln one year Between one and flve years 30,500 15,000 33,000 45,500 45,500 78,500 The Headgate Theatre114 Chapel Street) lease expires in October 2025. Funds to meet thls conlmltment are provided by Colchester City Council through a grant each year. The lease agreement related to The Warehouse112 Chapel Street) expires In October 2026. 19. MOVEMENT IN FUNDS Net movement In funds At 31,12.24 At 1.1.24 Unrestrlcted funds General fund David Forder Oesignated Fund 193,322 46,184 18,157 . 123,092) 211,479 23,092 239,506 14,9351 234,571 Re5trlcted funds Theatre Renovation Grant Headgate Youth Theatre Sound and Llght Equlpment Fund Art Council Grant HBCT Lift Replacement Fund 15,104 3,334 12,469 4,337 10,5(Ml 17,5521 7,552 3,334 10,892 2,168 5,250 11,5771 12,1691 15,2501 45,744 16,5481 29,196 TOTAL FUNDS 285,250 121,4831 263,767 -18-
THEATRE ARTS ACTION TRUST NOTES TO THE FINANCIAL STATEMENT5- conthiued FOR THE YEAR ENDED 31 DECEMBER 2024 19. MOVEMENT114 FUNDS- continued Net movement In funds, Included In the above are as follows,. Incomirvd resources Resources expended Movement In funds Unrestr5cted funds General fund David Forder Oeslgnated Fund 196,817 1178,660) 123,0921 18,157 ' 123,0921 . 196,817 {201,7521 14,9351 Restrlcted funds Theatre Renovation Grant Rent Grant sound and Light EquSpment Fund Art Council Grant HBCT Lift Replacement Fund 17,5521 115,0001 11,5771 12,169) 15,2501 17,5521 15,000 11,5771 12,1691. 15,Z501 15,OtXI 131,5481 116,5481 TOTAL FUNDS 211,817 233,3001 121,4831. Comparatlves for movement In funds Net movement In funds At, 1 31.12,23 At 1.1.23 Unwestrlcted funds Geneial fund David Forder Designated Fund 197,603 69,276 14,2811 23,0921 193,322 266,879 {27,373} 23Y,506 Restrlcted funds Theatre Renovation Grant Headgate Youth Theatre Sound and Llght Equlpment Fund Art Countll Grant HBCT Lift Replacement Fund 22,656 1,819 14,046 6,506 15,750 17,5521 1,515 11,5771 12.1691 15,2501 15,104 3,334. 12,469 . 4,337 10,500 60,777 115,0331 45,744 TOTAL FUNDS 327,656 142,4061 285,250 -19-
THEATRE ARTS ACTION TRUST NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 19. MOVEMENT IN FUNDS- contlnued Comparatlve net movement In fund5. Included In the above are as follow5.. Incoming resources ReSoUrS expended Movenient In funds Unrestricted funds General fund Davld Forder Desl8nated Fund 172,086 1176,3671 23,0921 14,2811. 123,0921 172,086 1199,4591 127,3731 Restrlcted funds Theatre Renovatlon Grant Rent Grant Headgate Youth Theatre Sound and Llght Equipment Fund Art Council Grant HBcf Lift Replacement Fund 17,5521 115,OCQI 17,g521 15,0 1,515 1,515 11,5771 {2,1691 5,2501 11,5771 12,1691 15,2501 16.515 131,5481 115,0331,. TOTAL FUNDS 188,601 1231,(KJ71 142,4061 General Fund The fund Is unrestrlcted and avallable for the general purposes of the Charlty. The fund represents accumulated surpluses of the Charity. Davld Forder Fund The fund is unrestricted but has been deslgnated by the Trustees for use for a partlcular purpose, belng. now determlned as funds available to expense improvements to the bar and common areas in the theatre bulldln8. 120171 and to undertake leasehold improvements following acquisition of a lease to the adjacent Warehouse bullding120181. Durlng 2018 a grant was received trom the Hervey Benham Charitable Trust to be applled towards the cost of improvements to the Warehouse: Ihls grant is slK)wn as an addition to the Trust's designated fund5. The amortlsation of the improvements to the Warehouse buildlng Is written off against this fund, Theatre Renovallon GTant The fund is restricted and represent5 grants received In 2001 and 2002 for the renovatlon of the theatre are being written off over 25 years In Ilne wlth the amortlsatlon of expendlture on the long leasehold. Rent Grant The fund Is restrlcted and represents 8rants received from ColchesteT City Council and Is equal to thè rent due on The Headgate Theatre lease. -21
THEATRE ARTS ACTION TRUST NOTES TO THE FINANCIALSTATEMENTS-contknued FOR THE YEAR ENDED 31 DECEMBER 2024 19. MOVEMENT IN FUNDS-contlnued Headgate Youth Theatre The fund Is restrlcted andls avallatrAe to promote amateur theatre for youngsters. Souhd and Ll8ht Equlpment Fund The fund Is restrlcted and represents donations recelved in 2020 and 2021 to purchase sound and Ilghting equlpment less accumulated depreclation to date. Covld Adaptatlon Grants The fund Is restricted and was available to enable the theatre to make adaptations to become Covid safe. Art Councll Culture Recovery Fund The fund Is restricted and wa5 avollable to enable the theatre to reopen safely followlng closure due to Covid restrictions. HBcf Lift Replacement Fund The fund Is restrlcted and represents a grant recelved of £21,OIXI from the Hervey Benham Charltable Trust lil 2022 to fund the replacement lift at the HeadEate Theatre le55 accumulated dePCIatIon to date. 20. RELATED PARTY DISCLOSURES There were no related party transattlons for the year ended 31 December 2024. -21-
THEATRE ARTS ACTION TRUST DETAIIED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 Total funds 2023 Total fund5 Unrestrlcted funds Restricted funds INCOME AND ENDOWMENTS Donatlons and le8acle5 Donations Grants Subscrlptions 3,284 3,284 15,000 35 5,73 15,000 36 15,IXIO 35 3,319 15,000 18,319 ' 20,769 Other tradlng actlvltles Headgate Theatre productlons Workshops productlons Activity income 33,864 350 17,908 33,864 350 17,908 35,982 2,905 16,264 52,122 52,122 55,151 Investment Income Deposlt account Interest 5,897 5,897 2,823 Charltable a¢tlvllles Booking fees Bar and Ice cream sales Other income Theatre hlre charges 9.139 37,165 3,495 85,680 9,139 37,165 3,495 85,680 10,754 33,825 2,829. 62,451 135,479 135,479 109.859 Total Incomlng resources 196,817 15,000 211,817 188,601 EXPENDITURE Ralsin8 donatlons and legacle5 Advertlslng and publlclty Productlon and actlvlty costs 5,777 19,136 5,777 19,136 6,079 24,913 24,911 ' 27.552 Chayitable actlvltles Wages Carrled forward 41,280 41,280 41,280 41,280 39,065 39,065 -22-
THEATRE ARTS ACTION TRUST DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 Total funds 2023 Total funds Unre5trlcted funds Restricted fund5 CharltablÉ actfvltles Brought forward Penslons Freelance admln support Rent and service charges Rates and water Insurance Light and heat Licences Cleanlng P05tage, statlonery and teleph Sundries Bar and Ice cream purchases Ticket processin8 fees Repairs and malntenance Subscrlptlons and donations Bank and credlt card charges Long leasehold Fixtures and fittings 41,280 677 41,2BO 677 39,065 723 37,248 3,516 5,063 .4,813 2,633 I j,04D 2,629 4,724 IS,538.. 8,786 . 13,119 275 2,069 47,046 3,821 23,669 2,195 5,508 8,668 2,089 10,079 2,607 3,560 16,029 8,234 14,429 277 2,008 32,075 2,245 15,000 38,669 2,195 5,508 8,668 2,089 10,079 2,607 3,560 16,029 8,234 14,429 277 2,008 47,046 3,822 14,971 1,577 175,629 31,548 207,177 202,735 Support costs Governance costs Independent examlnatlon fees Accountancy fees 300 910 300 910 270 450 1,210 1,210 720, Total resources expended 201,752 31,548 233,300 231,007 Net {expendlturel/lncome 14.9351 116,5481 121,483) 142,4061 This page does not form part of the statutory financial statements -23-