2023-08-31-accounts

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STOCKPORT PLAZA TRUST (A Company Limited by Guarantee)

Company Registration No. 03790941 Charity No. 1076494

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

Auditors: Azets Audit Services, Alpha House, 4 Greek Street, Stockport, Cheshire SK3 8AB

Stockport Plaza Trust - TAR and Financial Statements 2023

STOCKPORT PLAZA TRUST (A Company Limited by Guarantee)

TRUSTEE'S ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

CONTENTS

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Page
2 Company Information
3-9 Trustees’ Annual Report
10-12 Auditor’s Report to the Trustees
13 Statement Of Financial Activities
14 Balance Sheet
15 Cash Flow Statement
16 - 22 Notes to the Financial Statements
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Stockport Plaza Trust — TAR and Financial Statements 2023

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STOCKPORT PLAZA TRUST (A Company Limited by Guarantee)

COMPANY INFORMATION

DIRECTORS / TRUSTEES __ Nigel Anderton — Chairman

David Blake Terence Carnes Christopher Gordon Richard Gray lan Hodgkiss Resigned 06.02.24 Chris Jeffries Matthew Male Mel Spooner Linda Weekes-Holt

REGISTERED OFFICE

The Plaza Mersey Square Stockport Cheshire SK1 1SP

REGISTERED NUMBERS

SOLICITORS

Company Number: 3790941 Charity Number: 1076494

Gorvins Solicitors Dale House Tiviot Dale Stockport Cheshire SK11TA

AUDITORS

Azets Audit Services Alpha House 4 Greek Street Stockport Cheshire SK3 8AB

Stockport Plaza Trust - TAR and Financial Statements 2023

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STOCKPORT PLAZA TRUST (A Company Limited by Guarantee)

TRUSTEES’ ANNUAL REPORT For the year ended 31 August 2023

INTRODUCTION

The trustees of Stockport Plaza Trust Limited present their report for the year ended 31 August 2023 under the Companies Act 2006 and the Charities Act 2011, together with the audited financial statements for that period. The financial statements comply with the Companies Act 2006, the Charities Governing Document and the relevant Statement of Recommended Practice (The Charities SORP 2005).

REFERENCE AND ADMINISTRATIVE INFORMATION

The Stockport Plaza Trust Limited is a registered charity (number: 1076494) and company (number: 3790941) limited by membership guarantee. Its registered office is shown on the company information sheet (Page 2).

The present trustees who served during the period, together with details of external advisers are also noted on the company information sheet.

STRUCTURE, GOVERNANCE AND MANAGEMENT

e Governing document

The charity is governed by its Memorandum and Articles of Association adopted on 17 June 1999.

e Governing bodies

The Board of Trustees is responsible for the overall governance of the charity. The affairs of the charity are administered by a Council of Management, the members of which occupy the position of directors for the purpose of the Companies Act.

e Recruitment and training of trustees

The trustees are responsible for the appointment of new trustees. New trustees will only be appointed after due consideration is given to eligibility, personal competence and special skills. New trustees, when appointed, are inducted into the working of the charity by the existing trustees.

e Elected members Nigel Anderton — Chairman David Blake Richard Gray Chris Jeffries Mel Spooner Linda Weekes-Holt Terence Carnes Christopher Gordon Matthew Male

e Nominee members The Friends of the Plaza lan Hodgkiss Resigned 06.02.24 The National Trust No nomination Stockport MBC Helen Walters (observer)

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Stockport Plaza Trust — TAR and Financial Statements 2023

STOCKPORT PLAZA TRUST (A Company Limited by Guarantee)

TRUSTEES’ ANNUAL REPORT For the year ended 31 August 2023 (Continued)

STRUCTURE, GOVERNANCE AND MANAGEMENT (Continued)

e Appointment

The Board of Trustees consists of up to nine elected members and three nominated trustees. One third of the elected trustees who have been in office the longest retire each year, but are eligible for re-election.

Three nominated trustees may be appointed, one by each of the following organisations:

The Friends of the Plaza

The National Trust

Stockport Metropolitan Borough Council

e Related parties

The objects, for which the Trust was established, by its nature, required the appointment of persons with experience of theatre and cinema. A number of the trustees are members of organisations who have an interest in hiring the building or who have related interests. None of these associated transactions have been influenced by any interests other than the Trust's. They are not material and all such interests have been fully disclosed, where appropriate.

RISK MANAGEMENT

The trustees have identified the major risks facing the Trust as failing to meet its financial targets, especially income generation from ticket sales, front of house sales, operational grants and donations. The Trust monitors income from all sources, instigates targeted marketing to increase awareness and ticket sales, and has been applying for grants from a diverse and extensive range of both existing and potential sources.

The Trust undertakes an annual review of health and safety risks, and has in place policies to ensure compliance with best practice. This review has included the impact of the Covid-19 pandemic. The trustees are satisfied that systems are in place to mitigate the exposure to major risks.

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Stockport Plaza Trust — TAR and Financial Statements 2023

STOCKPORT PLAZA TRUST (A Company Limited by Guarantee)

TRUSTEES’ ANNUAL REPORT For the year ended 31 August 2023 (Continued)

OBJECTS, AIMS, OBJECTIVES AND ACTIVITIES

The objects of the Trust are as stated in the Memorandum of Association. The mission statement of the Trust is as follows:

‘To protect, preserve and promote the Plaza Super Cinema as a fine example of 1930s architecture through modern viable use as a centre for performing arts and cinema, serving local, national and regional communities’.

The Trustees reviewed the Trust's strategy during the year. The key aims are

1. Maintaining the Plaza’s position as the premier variety venue in the North West

2. Making the most of the Plaza

3. Completing the heritage refurbishment of the Plaza

4. Plaza commitment to youth theatre

5. Enabling all Stockport children to have the opportunity to be involved in the Plaza 6. Taking the Plaza on tour

6. Ensuing the Plaza trust is fit for purpose to support the charity and our mission

The trustees continued their policy of carrying on restoration works and are utilising a survey of maintenance requirements for the next five years undertaken by external consultants created in 2019.

The theatrical programme, has been a full mixture of variety performances and shows as well as a substantial use by local community groups and family entertainment shows. The film programme is being continually developed and includes National Theatre Encore and Live presentations and Opera screenings.

FINANCIAL AND OPERATIONAL REVIEW

A summary of the financial results for the year can be found in the Statement of Financial Activities (Page 13).

The total incoming resources were £1,362,926 as compared to £1,245,283 in the previous year. Total resources expended in the period were £1,303,427 as compared to £1,184,216 in 2022. The Café Restaurant has continued to run successfully during the year.

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Stockport Plaza Trust — TAR and Financial Statements 2023

STOCKPORT PLAZA TRUST (A Company Limited by Guarantee)

TRUSTEES’ ANNUAL REPORT For the year ended 31 August 2023 (Continued)

FINANCIAL AND OPERATIONAL REVIEW (Continued)

The Plaza has undergone further restorative work to prescriptive standards during the past twelve months, reflecting the building’s original architectural intent. The building maintenance costs for 2023 were £272,074 compared to £217,042 in 2022. The Plaza undertook capital expenditure of £57,677 during the year.

Overall, the Plaza made a surplus of £59,499 (2022 surplus £61,067). A surplus on the General Fund of £105,433 was achieved (surplus £109,355 in 2022) and there was a deficit on the Capital Fund of £45,904 (compared to a deficit of £48,288 in 2022).

The Plaza has received no public body funding during the year.

The Plaza budgeted for 291 (250 in 2022) events during the year and achieved 258 (227 in 2022).

Tight control has been maintained on expenditure during the year; although some staff costs have increased due to National Living wage requirements

The Plaza continues to hold cross-community events including the Festival of Remembrance, local schools, local operatic groups and dance schools. These events demonstrate our commitment to community use and we will endeavour to expand our activities in these areas.

Stockport Plaza Trust continues to rely on an ever-increasing number of volunteers and the Trust acknowledges their commitment and dedication:

• e The Trustees — for governance of the Trust. e The Stage Crew — for the setting up and operation of performances. e The Projection Team — for the presentation of films and maintenance of cinema equipment.

• e The Organ Team — for the maintenance of the Compton Organ. e Front of House Staff — for ensuring the smooth running of performances. e Café Volunteers — for their service in the Café Lounge.

• e Friends of the Plaza — for the donations provided.

• e All other volunteers who contribute to the successful maintenance and operation of the building in any way.

FUTURE ACTIVITIES

Along with the continuing maintenance of the building, it is intended the theatre continues its current high level of usage, both through shows and performances and other uses of this unique space including location filming.

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Stockport Plaza Trust — TAR and Financial Statements 2023

STOCKPORT PLAZA TRUST (A Company Limited by Guarantee)

TRUSTEES’ ANNUAL REPORT For the year ended 31 August 2023 (Continued)

FUTURE ACTIVITIES (Continued)

It is our intention to continue with the successful Heritage tours of the Plaza, to give patrons and members of the community an insight into the heritage of the Plaza building and of its historic importance.

Our overall aim is to continue to increase usage of the Theatre.

PUBLIC BENEFITS, AIMS AND INTENDED IMPACT

In meeting with the objectives of the Charity, the Trust's public benefit aim is to preserve and maintain the Plaza Super Cinema in excellent condition and to promote performing arts to local, regional and national communities, achieved by providing ticketing support to underprivileged groups, offering preferential rates to community performing arts groups, hosting school and lifelong learning events, offer Heritage tours of the theatre and provide volunteers experience of working in a theatrical environment.

In setting out policy and planning activities, the Trustees have given careful consideration to the Guidance from the Charity Commission about public benefit.

INVESTMENT POLICIES

Under the Memorandum and Articles of Association, the charity has the power to make any investment which the Trustees see fit.

The charity has a policy of keeping any surplus funds in short term deposits, which can be accessed readily.

RESERVES POLICY

The Trust's policy on reserves is to consider only what is necessary to support an unforeseen and sustained drop in the theatre’s revenue, hold sufficient reserves to cover six months’ worth of overheads expenditure and support the restoration capital plan. The capital plan relates to the future restoration and maintenance of the theatre and has been detailed in an external consultant’s report setting out a five year plan for maintenance activities.

The effect of the pandemic has been to reduce our reserves. The Board continued to monitor the financial position and reserves post the year end. Our financial plans going forward, are to replenish the reserves to that of the policy level

The Trust does not intend to hold reserves for any purpose other than to fulfil its aims as noted in the Memorandum and Articles of Association. This policy is to be reviewed annually by the Trustees.

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Stockport Plaza Trust — TAR and Financial Statements 2023

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STOCKPORT PLAZA TRUST
(A Company Limited by Guarantee)
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TRUSTEES’ ANNUAL REPORT For the year ended 31 August 2023 (Continued)

STATEMENT OF TRUSTEES’ RESPONSIBILITIES AND CORPORATE GOVERNANCE

The trustees are responsible for their annual report and the preparation of the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) for each financial year. These financial statements give a true and fair view of the incoming resources and application of those resources to the charity and group during the year, and of the state of affairs at the end of the financial year. In preparing these financial statements, the trustees are required to:

• e ensure that suitable accounting policies are established and applied consistently;

• e make judgements and estimates which are reasonable and prudent;

• e state whether the applicable accounting standards and statement of recommended accounting practice have been followed, subject to any material departures disclosed and explained in the financial statements; and

• e prepare the financial statements on a going concern basis, unless it is inappropriate to presume that the charity will continue in operation.

The Trustees confirm that they have complied with the above requirements in preparing financial statements. The trustees have overall responsibility for ensuring that the charity has appropriate systems and controls, financial and otherwise. They are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and for their proper application as required by charity law, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities and to provide reasonable assurance that:

• e the charity is operating efficiently and effectively;

• e all assets are safeguarded against unauthorised use or disposition and are properly applied;

• @ proper records are maintained and financial information used within the charity, or for publication, is reliable;

• e the charity complies with relevant laws and regulations.

Internal controls over all forms of commitment and expenditure continue to be refined to improve efficiency. Processes are in place to ensure that performance is monitored and that appropriate management information is prepared and reviewed regularly by both the executive management and the Board of Trustees.

The systems of internal control are designed to provide reasonable, but not absolute assurance against material misstatement or loss. They include:

• e@ anannual budget approved by the trustees;

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Stockport Plaza Trust — TAR and Financial Statements 2023

STOCKPORT PLAZA TRUST (A Company Limited by Guarantee)

TRUSTEES' ANNUAL REPORT For the year ended 31 August 2022 (Continued)

STATEMENT OF TRUSTEES’ RESPONSIBILITIES AND CORPORATE GOVERNANCE (Continued)

• e regular consideration by the trustees of financial results, variances from budgets, nonfinancial performance indicators and benchmarking reviews;

• e delegation of day to day management authority and segregation of duties; and identification and management of risks.

Importantly, the Board believes, based upon current financial reporting and reserves position, that the Trust remains a going concern.

Approved on behalf of the trustees:

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NIGELANDERTON.
Company Secretary
Date: q| ] 7 at
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Stockport Plaza Trust — TAR and Financial Statements 2023

STOCKPORT PLAZA TRUST (A Company Limited by Guarantee) INDEPENDENT AUDITOR’S REPORT For the year ended 31 August 2023

Opinion

We have audited the financial statements of Stockport Plaza Trust (the ‘charity’) for the year ended 31 August 2023 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

• give a true and fair view of the state of the charitable company's affairs as at 31 August 2023 and of its incoming resources and application of resources, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financiai statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

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Stockport Plaza Trust — TAR and Financial Statements 2023

STOCKPORT PLAZA TRUST (A Company Limited by Guarantee)

INDEPENDENT AUDITOR’S REPORT For the year ended 31 August 2023 (Continued)

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

• the information given in the financial statements is inconsistent in any material respect with the trustees’ report; or

• sufficient accounting records have not been kept; or - the financial statements are not in agreement with the accounting records; or - we have not received all the information and explanations we require for our audit.

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities is available on the Financial Reporting Council's website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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Stockport Plaza Trust — TAR and Financial Statements 2023

STOCKPORT PLAZA TRUST (A Company Limited by Guarantee) INDEPENDENT AUDITOR’S REPORT For the year ended 31 August 2023 (Continued)

Extent to which the audit was considered capable of detecting irregularities, including fraud Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

• • Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;

• « Reviewing minutes of meetings of those charged with governance; + Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the entity through enquiry and inspection:

• • Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
• • Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Jonathan Ward (Senior Statutory Auditor) for and on behalf of Azets Audit Services

tte ohn me ere, ee. Moceccesansnanureransnee

Chartered Accountants

Statutory Auditor Alpha House, 4 Greek Street, Stockport, SK3 8AB

Azets Audit Services is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

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Stockport Plaza Trust — TAR and Financial Statements 2023

STOCKPORT PLAZA TRUST (A Company Limited by Guarantee)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2023

		General	Restricted
	Note	Fund	Fund	Capital	Fund	2023	2022
		£	£	£		£	£
INCOMING RESOURCES:
Incoming Resources
from Generated Funds:
Voluntary Income:
Donations and Grants	3	44,507	-		-	44,507	86,596
Refunded Grant
Legacies		86,220				86,220	-
Activities for Generating Funds:
Theatre Income	4	1,232,017	-		-	1,232,017	1,158,533
Investment Income		182	-		-	182	154
Fundraising Events		-	-		-	-	-
Other Income
Insurance Claim Income
Bank Account Switch Income
TOTAL INCOMING RESOURCES:		1,362,926	:		-	1,362,926	1,245,283
RESOURCES EXPENDED:
Cost ofGenerating Funds:
Fundraising Events	5	180	-		-	180	180
Direct Charitable Expenditure:	5
Theatre Costs		215,348	-	45,904		261,252	273,841
Front of House Costs		221,675	-		-	221,675	200,915
Building Maintenance		272,074	.		-	272,074	217,042
Other Support Costs	6	533,496	-		-	533,496	490,238
		1,242,773	-	45,904		1,288,677	1,182,216
Governance Costs	7	14,750	-		-	14,750	2,000
TOTAL RESOURCES EXPENDED:		1,257,523	-	45,904		1,303,427	1,184,216
Net Incoming /(Outgoing) Resources		105,403	-	(45,904)		59,499	61,067
Net Movement between Funds		13,247	-	(13,247)		-	-
Net Movement in Funds		118,650	-	(59,151)		59,499	61,067
Balance at 1 September 2022		642,211	-	1,760,838		2,403,049	2,341,982
BALANCEAT31AUGUST2023		760,861	-	1,701,687		2,462,548	2,403,049

Stockport Plaza Trust — TAR and Financial Statements 2023

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STOCKPORT PLAZA TRUST (A Company Limited by Guarantee)

BALANCE SHEET AS AT 31 AUGUST 2023

	Note	2023	2022
		£	£
FIXED ASSETS:
Tangible assets	9	1,872,669	1,905,315
CURRENT ASSETS:
Stock		16,017	19,212
Debtors	10	122,743	132,070
Cash at bank		1,103,959	948,543
		1,242,719	1,099,825
CREDITORS: AMOUNTS FALLING
DUEWITHIN ONEYEAR:	11	652,840	602,091
NETCURRENTASSETS:		589,879	497,734
TOTAL ASSETS LESSCURRENT LIABILITIES:		2,462,548	2,403,049
FINANCED BY:
General Fund		760,861	642,211
Restricted Fund
Capital Fund	12	1,701,687	1,760,838
		2,462,548	2,403,049

Financial Statements signed on behalf of the Board of Directors:

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NIGEL ANDERTON
Chairman
Approved by the Board: 4[4 (24
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CHRIS JEFFRIES
Financial Director
A
a
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Company Number: 3790941 Charity Number: 1076494

Stockport Plaza Trust — TAR and Financial Statements 2023

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STOCKPORT PLAZA TRUST (A Company Limited by Guarantee)

CASH FLOW STATEMENT

Year to August 2023

	2023	2022
	£	£
Cash flows from activities
Surplus/(Loss) forthe financial year	59,499	61,067
Adjustments for:
Depreciation offixed assets	79,725	82,193
Disposal offixed assets	.	-
Profit/loss on disposal ofassets	10,597	-
Interest paid	-	-
Interest received	(182)	(154)
Decrease/(increase) in receivables	9,327	(34,737)
Decrease/(increase) in inventory	3,195	(12,441)
Increase/(decrease) in payables	50,749	(105,083)
Cash from activities	212,910	(9,155)
Interest paid	-	-
Net cash generated from activities	212,910	(9,155)
Cash flows from investing activities
Purchase of fixed assets	(57,677)	(18,905)
Interest received	182	154
Net cash from investing activities	(57,495)	(18,751)
Net increase/(decrease) in cash and bank	155,415	(27,906)
Opening balance cash and bank	948,543	976,449
Closingbalancecashandbank	1,103,958	948,543

Stockport Plaza Trust — TAR and Financial Statements 2023

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STOCKPORT PLAZA TRUST (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2023

ACCOUNTING POLICIES

Company status Stockport Plaza Trust is a private company limited by guarantee. The Directors of the company are the Trustees named on page 2. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company. The registered office is The Plaza, Mersey Square, Stockport, Cheshire, SK1 1SP.

1.1 Accounting convention

These accounts have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”), “Accounting and Reporting by Charities” the Statement of Recommended Practice for charities applying FRS 102, the Companies Act 2006 and UK Generally Accepted Accounting Practice as it applies from 1 January 2015. The Charity is a Public Benefit Entity as defined by FRS 102.

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

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

1.2 Going concern

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

At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future.

1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts.

Free reserves are available for use at the discretion of the Trustees in pursuit of the general objectives of the charity.

1.4 Incoming resources

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

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

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

Stockport Plaza Trust — TAR and Financial Statements 2023

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STOCKPORT PLAZA TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2023

treated as a contingent asset.

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

1.5 Resources expended

All expenditure is accounted for on an accruals basis and has been included under expenses categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources.

Support costs are those costs incurred directly in support of expenditure on the objects of the company. Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.

1.6 Depreciation

Depreciation is provided to write off the cost, less estimated residual values, of all fixed assets. This is on a straight line basis over the expected useful lives of the assets at the following annual rates:

Freehold property & theatre improvements — 2% straight line Furniture, fixtures & fittings — 10% straight line

All other assets — 20% straight line

1.7 Interest receivable

Investment income is accounted for in the period in which the charity is entitled to receipt. Interest is shown as gross interest, as the charity is exempt from corporation tax.

1.8 Deferred income

The charity defers income received on ticket sales for shows and events until the date the show or event has taken place. The charity is not entitled to the income until it has been confirmed that the show or event has taken place. Shows and events can be cancelled and any ticket sale income would have to be refunded to the customer.

1.9 Financial Instruments

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

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

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

Basic financial assets

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

Stockport Plaza Trust — TAR and Financial Statements 2023

STOCKPORT PLAZA TRUST (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2023

1.9 Basic financial assets (continued)

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

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

Derecognition of financial liabilities

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

1.10 Employee benefits

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

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

1.11 Critical accounting estimates and judgements

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no critical accounting estimates or judgements.

2 Taxation

The company is registered as a Charitable Trust and is therefore exempt from corporation tax, due to an annual exemption under sections 466 to 493 of the Corporation Tax Act 2010.

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STOCKPORT PLAZA TRUST (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2023 (Continued)

3. DONATIONS AND GRANTS

3. DONATIONS AND GRANTS
	General	Restricted	Capital	Total	Total
	Fund	Fund	Fund	2023	2022
	£	£	£	£	£
Donations:
Other Donations	44,483	-	-	44,483	37,568
Grants:	.			-	40,532
Sundry Income:	24	-	-	24	8,496
	44,507	-	-	44,507	86,596
4. DIRECT CHARITABLE INCOME
	General	Restricted	Capital	Total	Total
	Fund	Fund	Fund	2023	2022
	£	£	£	£	£
Theatre Income	759,972	-	-	759,972	715,198
Front of House Income	472,045	-	-	472,045	443,335
Profit on disposal of fixed assets	-			-	-
	1,232,017	-	-	1,232,017	1,158,533
5. DIRECT CHARITABLE EXPENDITURE
	General	Restricted	Capital	Total	Total
	Fund	Fund	Fund	2023	2022
	£	£	£	£	£
Theatre Costs	170,930	.	-	170,930	191,648
Depreciation	33,821	-	45,904	79,725	82,193
Loss on Disposal of Assets	10,597	-	-	10,597	-
Front ofHouse Costs	221,675	-	-	221,675	200,915
Building Maintenance	272,074	-	-	272,074	217,042
Fundraising Costs	180	-	-	180	180
Salaries	516,259	-	-	516,259	462,879
Sundries	17,237	-	-	17,237	27,359
	1,242,773	-	45,904	1,288,677	1,182,216

Stockport Plaza Trust — TAR and Financial Statements 2023

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STOCKPORT PLAZA TRUST (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2023 (Continued)

6. SUPPORT COSTS

6. SUPPORT COSTS
	General	Restricted		Capital			Total	Total
	Fund	Fund		Fund			2023	2022
	£	£		£			£	£
Salaries	516,259		-		-		516,259	462,879
Sundries	1/,237		-		-		17,237	27,359
	ee a a	ee es 533,496 - - 533,496 490,238 Ie 8ee Ee Sk BEN LIS.,
7. GOVERNANCE COSTS
	General	Restricted		Capital			Total	Total
	Fund	Fund		Fund			2023	2022
	£	£		£			£	£
Audit Fees	14,750		-		-		14,750	2,000
	i Le ee eee	14,750 : - 14,750 2,000 a a ee ih,ee)
8. EMPLOYMENT COSTS
	General	Restricted		Capital			Total	Total
	Fund	Fund		Fund			2023	2022
	£	£		£			£	£
Stage Productions	58,284		-		=		58,284	54,485
Wages& Salaries	419,086		-		.		419,086	373,498
National Insurance Costs	31,461		-		-		31,461	28,301
Pension costs	7,428 - - 7,428 6,595 a 8 IS 516,259 - - 516,259 462,879 inn i SES

The directors are all volunteers and do not receive any remuneration for their services. One employee earned more than £60,000 and expenses of £ nil were paid (2022- £ nil).

The average number of full-time equivalent employees, excluding directors, was as follows:

	2023		2022
Operational Management& Box Office		5		7
Stage & Technical		6		7
Café Lounge		5		S
BarTeam		3		5
		19		24

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STOCKPORT PLAZA TRUST (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2023 (Continued)

9, TANGIBLE FIXED ASSETS

			Fixtures,	Fittings,
	Land&	Theatre	Café& Theatre		Office
	Buildings	Improvements	Equipment		Equipment	Total
	£	£	£		£	£
Cost:
As at 31 August 2022	455,502	1,961,811		430,577	32,699	2,880,589
Additions in Period				51,359	6,318	$7,677
Disposals in Period		13,247				13,247
As at 31 August 2023	455,502	1,948,564		481,936	39,017	2,925,019
Depreciation:
As at 31 August 2022	213,865	442,610		293,114	25,685	975,274
Charge in Period	9,052	39,501		27,742	3,430	79,725
Depreciation on Disposals		2,649				2,649
As at 31 August 2023	222,917	479,462		320,856	29,115	1,052,350
Book Values:
As at 31August2023	232,585	1,469,102		161,080	9,902	1,872,669
Asat31August2022	241,637	1,519,201		137,463	7,014	1,905,315

All assets are in use for charitable purposes.

Legal charges exist over the freehold property, to secure the interests of public bodies and other lenders funding its purchase and the cost of theatre improvements.

10. DEBTORS

10. DEBTORS
	2023	2022
	£	£
Trade Debtors	35,267	68,808
Prepayments	30,795	27,231
Other Debtors	56,681	36,031
	122,743	132,070

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

			2023	2023	2022
			£		£
Trade Creditors				56,946	124,554
PAYE and National Insurance				8,602	8,619
VAT Payable				22,624	138
Deferred Income - see note 11a				412,116	369,269
Other Creditors				27,790	25,853
Accruals				124,762	73,658
				652,840	602,091
11a. DEFERRED INCOME
	B/fwd	Gross sales	Shows		C/fwd
Ticket sales	369,269	1,753,403	(1,710,556)		412,116
Other deferred income	:	:		:	-
	369,269	1,753,403	(1,710,556)		412,116

Stockport Plaza Trust — TAR and Financial Statements 2023

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STOCKPORT PLAZA TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2023 (Continued)

12. CAPITAL FUND

	Land &
	Buildings
	£
Balance at31 August 2022:	1,760,838
DirectCharitable Expenditure -Theatre Improvements	(13,247)
Direct Charitable Expenditure -Depreciation	(45,904)
Balanceat31August2023:	1,701,687

During the year £13,247 was transferred between the general and capital fund. These funds represent the theatre improvements disposed of.

13. CONTINGENT LIABILITIES

The Heritage Lottery Fund award totalling £2,000,000 is repayable in the event the company is wound up. The written consent of the grantor is required before the theatre can then be disposed of.

A similar condition applies to the capital grants from the North West Development Agency (£745,000) and from Stockport Metropolitan Borough Council (£300,000). These liabilities are not expected to materialise.

14. CAPITAL COMMITMENTS

There are no capital commitments (2022 - £ nil).

15. FINANCIAL COMMITMENTS

As at 31 August 2023 (and as at 31 August 2022), the company had no annual commitments under non-cancellable operating leases.

16. ANALYSIS OF NET ASSETS BETWEEN FUNDS

	General	Restricted		Capital
	Fund	Fund		Fund Total
	£	£		£	£
Fund balances are represented by:
Tangible Fixed Assets	170,982		°	1,701,687	1,872,669
CurrentAssets	1,242,719		-	-	1,242,719
Creditors: Amounts Falling Due Within One Year	(652,840) - - (652,840) en ci hdEC a ee =O Me (753-5511) 760,861 - 1,701,687 2,462,548 core a RIE8 EEINOSOS!

17, RELATED PARTY TRANSACTIONS

The company had no transactions with related parties.

Stockport Plaza Trust — TAR and Financial Statements 2023

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