Company regislration number.. 01155555
Charity registration number: 1078605
Louth Playgoers Society Limited
(A company limtled by share capitsl)
Annual Report and Financial Statements
for the Year Ended 31 May 2024
Forresler Boyd
Chartered Accountant
Waynflete House
139 Eastgate
Louth
Lincolnshire
LN11 9QQ
E, Forrester Boyd
CMAR TEXED ACCOUIIT ANTS

Louth Playgoers Society Limited
Contents
Reference and Administrative Details
2to7
Trustees, Report
Independent Examinerfs Report
statement of Financial Activities
10
Balance Sheet
Notes to the Financial Statements
11 to21

Louth Playgoers Society Limited
Reference and Administrative Details
Chairman
J L Harris
Trustees
V J S Allison
M L Browne
C E Burton
J L Harris
S D Kettle
P M A Marshall
R M Precious
S Spendlow
G A Starkie
C Tinkler
Jmwest
Secretary
C D Tinkler
Registered Office
Loulh Riverhead Theatre
Victoria Road
Louth
Lincolnshire
LN11 OBX
Company Registration Number 01155555
Charity Registration Number
1078605
Bankers
Lloyds Bank plc
24 Mercer Row
Louth
Lincolnshire
LN11 9JH
Independent Examiner
A Millson ACA
Chartered Accountant
Waynflete House
139 Eastgate
Louth
Lincolnshire
LN11 gQQ
Page 1

Louth Playgoers Society Limited
Trustees, Report
The trustees, who are directors for the purposes of company law, present the annual report together with the
financial statements and auditors, report of the charitable company for the year ended 31 May 2024.
Structure, governance and management
Nature of governing document
The charity is a company limited by guarantee without share capital. The Guarantee of the members. being the
theatre card holders. is limited to a contribution of £1 each in the event of a winding-up. In the event of dissolution
any property whatsoever remaining is to be transferred under Clause 7 of the Memorandum of Association, to be
held on trust for charitable purposes or given to some other institution having similar objects to the company.
Recruitment and appointment of trustees
The committee, who are also the directors for the purpose of company law and trustees for the purpose of charity
law, who served during the year were:
V. J. S. Allison
R. N. Booth (Resigned 26-09-2023)
E. Brindle {Resigned 26-09-2023}
M. L Browne
C. E. Burton
J. Harris
D. Kettle (Resigned 12-01-2024)
S. D. Kettle
R. M. Precious
C. Tinkler
J. West
G. Starkie {Appointed 26-09-2023)
P. Marshall (Appointed 26-09-2023)
S. Spendlow (Appointed 26-09-2023) (resigned 30-07-2024)
None of the committee has any beneficial interest in the company. All the committee are members of the company
and guarantee to contribute £1 in the event of a winding up.
In accordance with the Articles of Association the following retire at the 2024 Annual General Meeting',- 17th
September, 2024
Jamie Harris, Simon Kettle, Richard Precious and Janet West who being eligible, offer themselves for re-eleclion.
Induction and training of trustees
Trustees are provided with an induction to the Charity that includes information and advice from the NCVO. Roles
and responsibilities are discussed and policies and procedures of the charity introduced and then regularly
reviewed. Trustees attended a Board development day in 2023 that will be followed by strategic planning.
The Board are the decision makers of the charity wth delegated responsibility for day to day management and
budgetary spend being given to the Theatre Manager.
There are no relationships with interested parties.
Organisational structure
The charity's organisational structure consists of the main committee. sub committees and other volunteers.
The Committee in conjunction with the Theatre Manager have overall control and are the decision makers of the
charity. The sub committees are finance. internal programming. external programming, health and safety,
marketing and safeguarding. These committees make recommendations to the main committee. The volunteers
are local people who help to maintain the efficient running of the theatre. and make it possible to produce theatrical
performances and other events.
Page 2

Louth Playgoers Society Limited
Trustees. Report
Committees
There are a range of committees that meel regularly to discuss areas of the charity including Safeguarding,
Membership, Front of House. Programming and Marketing.
Safeguarding statement
LPS believes that everyone we come into contacl with, regardless of age, gender idenlity. disability, sexual
orientation or ethnic origin has the right to be protected from all fonns of harm, abuse, neglect and exploitation. LPS
will not tolerate abuse and exploitation by staff or associated personnel.
Our policy addresses the following areas of safeguarding.. child safeguarding, adult safeguarding, and protection
from sexual exploitation and abuse.
LPS commits to addressing safeguarding throughout its work, through the three pillars of prevention, reporting and
response.
Risk management
The committee has assessed the major risks to which the charty is exposed, and is satisfied that systems are in
place to mitigate exposure thereto.
Page 3

Louth Playgoers Society Limited
Trustees, Report
Objectives and activities
Objects and aims
Purpose of the charity
The Charity is a company limited by guarantee without share capital. The purpose of Ihe charÈty is to promote the
advancement and implementation of general education in relation to all aspects of the art of drama and the
development of public appreciation of such art. together with Ihe advancement of all other forms of the arts and the
development of the appreciation of the public.
Our vision
Louth Playgoers Society recognise that we are in a unique position to contribute to the cultural and social welfare of
Louth and surrounding communities. We aim to support this by=
Developing and promoting appreciation of the arts by the provision of facilities for the education and recreation of
the public in the fields of art, music and drama.
Contributing to the quality of life of the people in the local community through the provision of exciting,
Challenging and accessible events.
Increasing accessibility and removing barriers to engagement with and participation in the Arts for the whole
community.
The strategies employed to achieve the charitys aims and objectÉves are to..
Present a broad range of theatre productions and art exhibitions for the enjoyment and education of our local
community.,
Offer opportunities for a wide range of people to get involved in the arts activity exploring their own creative
powers.,
Provide facilities for both amateur and professional artists to develop.
• Groups in the area are given discounted rates for hire of space.
Provide discounted and bursary supported educational workshops for members of the community led by
professional artists.,
Prioritise involving young people in the arts to help encourage a culture in which different age ranges play a
complimentary part..
Celebrate the diversity of cultures in society by programming presentations by. and with, artists of different
cultural backgrounds.
Affordability and accessibility to our programme remain important to us but this needs to remain balanced with
securing the long-term future of the Theatre. For this reason, during 2023-24, a series of decisions have been
taken to change some of the pricing structures to support sustainability in the face of spiraling operational costs and
external pressures.
Public benefit
The trustees confirm that they have Complied with the requirements of section 17 of the Charities Act 2011 to have
due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Summary of activities
The Charity owns and runs the Riverhead Theatre in Louth, Lincolnshire and provides the theatre as a community
venue for several other local groups, including performance and rehearsal space. The Theatre is also used by
visiting professional companies to present their productions which acts as an income stream for the Charity. The
foyer space is provided to local artists for the display and sale of their artwork and the Theatre also hosts the
annual programme of productions from the Louth Playgoers Society from whom the Charily and Company were
derived.
Use of volunteers
The Charity provides training and education opportunities for those wanting to develop skills and experience in
performing arts. As a busy and fully operational theatre. there are ample opportunities for volunteers to develop
skills in Box Office, Front of House, Bar and Cafe. Lighting and Sound Operation, Stage Management, Set Building
and Design, Costuming, Perfoming and Directing.
Page 4

Louth Playgoers Society Limited
Trustees, Report
Staff team
The Charity employs a small staff team lo ensure the smooth day to day running of the facility and to implement the
Policies and Procedures on behalf of the Board of Trusteel Directors. The staff team are provided with a budget for
the operation of the Theatre which is managed by the Thealre Manager. In 2023, we said goodbye to Tracy
Mackenzie as the Theatre Manager. The Trustees would like to lake this opportunity to thank Tracy for 311 of her
hard work and passion during her time working for the Society in various guises. Michael Kirk, who up until that
time had been employed as the Technical Manager of the Theatre, has now taken on the role of Theatre Manager
to be delivered alongside his role of Technical Manager.
Michael is supported by the following staff team..
Sarah Elliot
Nick Kendall
Geoff Stone
Eric Cahill
Jason Bartlett
Jon Mackenzie
Achievements and performance
The Louth Playgoers Society were delighted to have a successful programme of 2 plays, 2 musicals, a Pantomime
and a Christmas concert for their internal season. led by Philip Marshall Junior who was our 23124 President.
Whilst we unfortunately had to cancel our October 2023 production due to casting issues. we managed lo attain
audiences of 75010 capacity or more for all of our internal productions. with Ihe Pantomime "Snow While" and
musical "Oliver" achieving over 95 % of capacty.
Amongst some significant challenges at the start of the season including significant upgrades to the fabric of the
building, the season provided a variety of content to satisfy currenl patrons and entice new audiences and
performers to the Theatre.
The Theatre Manager scheduled a range of productions to nJn alongside the internal Playgoers season that
included both professional and amateur productions. community groups, schools. musicians and summer youth
workshops.
We had return visits from our frequent collaborators NEWLOG. Blaze. Chapterhouse Theatre. Box Clever, Studio
2000 Dance School among many others. We also now run a quarterly comedy night which has been consistently
well attended.
Like many venues of our size we have had to resort more to booking in poplrock tribute acts, in order to entice
audiences to our venue who perhaps prefer to see perfomiances of this ilk rather than the productions of our
internal season. These have all sold well and have added to our remit of keeping our venue and programme
accessible to all.
Our Youth Theatre has undergone some significant changes in 202>24 and has attracted 3 significanl investment
from the Levelling Up fund which will begin to show results in the 2024-25 season. This has continued to provide a
vital resource for the community of Louth and is a significant area for strategic development in the coming 5 years.
We are very excited to see what 2024125 brings for our Youth Theatre.
Financial review
In spite of the withdrawal of the Arts Council Funding, LoLrth Playgoers have seen an increase in income from
activities over 2023-24 which has meant that the impact was not as considerable as it could have been and Louth
Playgoers ended the year on a small surplus before depreciation.
Financial controls
The Board approved adoption of a financial controls Policy which supercedes any previous policies around financial
management. This document clearly articulates roles and responsibilities and anti-fraud measures that will be taken
by the Charity.
Page 5

Louth Playgoers Society Limited
Trustees, Report
Policy on reserves
The Board has agreed a reserves policy of 3 months. expenditure. The unrestricted fund currently stands at
£353,782 of which £258,104 is invesled in tangible fixed assets. The siluation arose over 20 years ago when as
part of the company's share of funding on the Theatre build, over £350,000 of our unrestricted funds had to be
used. Current Liabilities includes £17,697 of income received in advance. the average holding over the year being
in the region of £15.000.
Budgetary Controls
For 2024-25, a budget has been prepared and approved by the Trustees to control expenditure and manage the
potential financial risks posed in the medium tem from the lack of grant support. This will be monitored at the
monthly Board meetings in order to provide early warning for any concerning trends.
Financial risks
Financial risks are posed by the age of the building and internal fixtures and fittings which have now experienced
over 20 years of constant use. The grant funding secured for the coming year will go some way lo alleviating this
pressure and the Theatre Manager has worked hard with the staff leam to identify the greatest areas of risk and
provide plans to mitigate through considered investment and future planning.
other costs are set to increase in the coming year including our utilities and Insurances. These have been planned
for in the budget for the year and the Theatre Manager and Treasurer scrutinised current expenditure to identify
where savings could be made.
It was agreed by the Board to introduce Show Fees and a Membership fee to support the work of Louth Playgoers
Society. As the only society locally not charging a fee, the Board agreed that it would be reasonable to set low fees
for performers to participate in productions. In order to prevent exclusion, a bursary is available for those in
hardship.
Going concern
The Trustees have been fully briefed on the challenges and risks as identified in this report and consider that the
Charity remains a going concern.
The principle source of income for the charty remains the Louth Playgoers Season of productions and the
investment in growing and sustaining new lalent is critical for the continuation of the Charity. The Charity has a
robust financial model which provides for the continuation of the charity for the coming year.
Our strategic plans include Ihe following key priorilies-.
Developing governance structures and increasing transparency and accountability
Investment in attracting and retaining new volunteers, including Trustees that will enhance the diversity of the
board
Creating a larger youth theatre and opening access to remove boundaries to the arts
Statement of trustees. responsibilities
The trustees (who are also the directors of Louth Playgoers Society Limited for the purposes of company law) are
responsible for preparing the Irustees, report and the financial statements in accordance with applicable law and
United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). including FRS
102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"
Company law requires the trustees to prepare financial statements for each financial year. Under company law the
trustees must not approve the financial statements unless they are salisfied that they give a true and fair view of
the state of affairs of the charrtable company and of the incoming resources and application of resources, including
its income and expenditure. of the charitable company for that period. In preparing these financial statemenls, the
trustees are required to..
select suitable accounting policies and apply them consistently-
observe the methods and principles in the Charities SORP-
make judgements and estimates that are reasonable and prudent..
Page 6

Louth Playgoers Society Limited
Trustees. Report
state whether applicable accounting standards, comprising FRS 102 have been followed. subject to any
material departures disclosed and explained in the financial statements: and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at
any time the financial position of the charitable company and enable them to ensure that Ihe financial statemenls
comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable
company and hence for taking reasonable steps for the prevenlion and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included
on the charitable company's website. Legislation governing the preparation and dissemination of financial
statements may differ from legislation in other jurisdictions.
Disclosure of information to auditor
Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any
relevant audit information and to establish that the charity s auditor is aware of that information. The Iruslees
confirm that there is no relevant information that they know of and of which they know the auditor is unaware.
The annual report was approved by the trustees of the charity on 2 September 2024 and signed on its behalf by:
Chairman and Trustee
Page 7

Louth Playgoers Society Limited
Independent Examiner's Report to the trustees of Louth Playgoers Society Limited ('the
Company.)
I report to Ihe charity trustees on my examination of the accounts of the Company for the year ended 31 May 2024.
Responsibilities and basis of report
As the Charity's trustees of the Company {and also its directors for the purposes of company law) you are
responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006
I'the 2006 Act'l.
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006
Act and are eligible for independent examination, I report in respect of my examination of your charity s accounts as
Carried out under section 145 of the Charities Act 2011 ('the 2011 Act'l. In carrying out my examination I have
followed the Directions given by the Charty Commission under section 145{5){b) of the 2011 Act.
An independent examination does not involve gathering all the evidence that would be required in an audit and
consequently does not cover all the matiers thal an auditor considers in giving their opinion on the accounts. The
planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide.
Consequently l express no opinion as to whether the accounts present a 'true and fair, view and my report is limited
to those specific matters set out in the independent examiner's statement.
Independent examiner's statement
Since the Company's gross income exceeded £250.000 your examiner musl be a member of a body listed in
section 145 of the 2011 Act. I confimi that l am qualified to undertake the examination because l am a member of
-rhe Inslitute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confimi that no matters have come to my attention in connection with the
examination giving me cause to believe-
1. accounting records were not kept in respect of Louth Playgoers Society Limited as required by section 386 of
the 2006 Act.. or
2. the accounts do not accord with those records-. or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act olher than any
requirement that the accounts give a 'true and fair view which is not a matter considered as part of an
independent examination. or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of
Recommended Practice for accounting and reporting by charities lapplicable to charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
(FRS 102)].
I have no concerns and have come across no other matters in Connection wilh the examination to which attention
should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Adam Millson ACA
Chartered Accountanl
The Institute of Chartered Accountants in England and Wales
Waynflete House
139 Eastgate
Louth
Lincolnshire
LN119QQ
5 September 2024
Page 8

Louth Playgoers Society Limited
Statement of Financial Activities for the Year Ended 31 May 2024
(Including Income and Expenditure Account and Statement of Total Recognised Gains
and Losses)
Unrestricted
funds
Restricted
funds
Total
2024
Note
Income and Endowments from:
Donations and legacies
Charitable activities
Investment income
15.122
409.841
730
15,122
409,841
730
Total income
425,693
425,693
Expenditure on:
Charitable activities
418.855
(36,908
(455,763}
Total expenditure
(418,855)
6,838
{36,908)
(455,763)
Net incomellexpenditure)
Net movement in funds
(36,9081
130,070)
6,838
{36.908)
130,070)
Reconciliation of funds
Total funds brought fO￿ard
Total funds carried forward
346,944
1,031,093
1,378,037
18
353,782
994.185
1,347,967
Unrestricted
funds
Restricted
funds
Total
2023
Note
Income and Endowments from:
Donations and legacies
Charitable activities
Investment income
5,123
336,830
209
5.123
336,830
209
Total income
342.162
342,162
Expenditure on:
Charitable activities
(363,792)
137,118}
1400,910)
Total expenditure
(363.7921
(21.630)
(37,118
(400.9101
Net expenditure
{37,1181
{58,748)
Nel movement in funds
(21.630)
(37.118}
(58.748)
Reconciliation of funds
Total funds brought forward
Total funds carried foNard
368,574
1,068,211
1,436,785
1,378,037
18
346.944
1,031,093
All of the charity's activrties derive from continuing operations during the above Iwo periods.
The funds breakdown for 2024 and 2023 is shown in note 18.
The notes on pages 11 to 21 form an integral part of these financial statements.
Page 9

Louth Playgoers Society Limited
(Registration number: 01155555)
Balance Sheet as at 31 May 2024
2024
2023
Note
Fixed assets
Tangible assets
Current assets
Stocks
Debtors
Cash at bank and in hand
13
1.252.289
1,303,853
14
15
16
2,117
14.383
111,062
6,291
8,999
121,839
127.562
137,129
Creditors: Amounts falling due within one year
Net current assets
17
{31,884}
{62,945)
95,678
74,184
1,378,037
Net assets
1,347,967
Funds of the charity:
Restricted income funds
Restricted funds
18
994,185
1,031,093
Unrestricted income funds
Unrestricted funds
353,782
346,944
Total funds
18
1,347,967
1,378,037
For the financial year ending 31 May 2024 the charity vrfas entitled to exemption from audit under section 477 of the
Companies Act 2006 relating to small companies.
Direclors, responsibilities.
The members have not required the charity to obtain an audit of its accounts for the year in question in
accordance with section 476., and
The directors acknowledge their responsibilities for complying wrth the requirements of the Act with respect to
accounting records and the preparation of accounts.
The financial statements on pages 9 to 21 were approved by the trustees, and authorised for issue on 2 September
2024 and signed on their behalf by..
J L Harris
Chairman and trustee
C Tinkler
Trustee
The notes on pages 11 to 21 form an inlegral part of these financial statements.
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Louth Playgoers Society Limited
Notes to the Financial Statements for the Year Ended 31 May 2024
1 Charity status
The charity is a charity limited by guarantee and consequently does not have share capital. Each of the trustees is
liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
The company was incorporated in England and Wales.
The address of the registered office is:
Louth Riverhead Theatre
Victoria Road
Louth
Lincolnshire
LN11 OBX
These financial statements were authorised for issue by the trustees on 2 September 2024.
These financial statements cover the individual charity. Louth Playgoers Society Limited.
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial ststements are set out below. These
policies have been consistently applied to all the years presented. unless otheEwise stated.
Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charities..
Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021) (issued in October 20191
{Charities SORP (FRS 102)}, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS
1021 and the Companies Act 2006.
Basis of preparation
Louth Playgoers Society Limited meets the definition of a public benefit enlity under FRS 102. Assets and liabilities
are initially recognised at historical cost or transaction value unless othetwise stated in the relevant accounting
policy notes.
The financial statements are prepared in sterling which is the functional currency of the company and have been
rounded to the nearest pound.
Going concern
The trustees consider that there are no material uncertainties about the chariws ability to continue as a going
concern nor any significant areas of uncertainly that affect the carrying value of assets held by the charity.
Income and endowments
All income is recognised once the charrty has entitlement to the income, it is probable that the income will be
received and the amount of the income receivable can be measured reliably.
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In
the event that a donation is subject to conditions that require a level of performance by the charity before the
charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met,
or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions
will be lulfilled in the reporting period.
Page11

Louth Playgoers Society Limited
Notes to the Financial Statements for the Year Ended 31 May 2024
Deferred income
Deferred income represents amounts received for future periods and is released to incoming resources in the
period for which, it has been received. Such income is only deferred when..
The donor specifies that the grant or donation must only be used in future accounting periods., or
The donor has imposed conditions which must be met before the charity has unconditional entitlement.
Expenditure
All expenditure is recognised once there is a legal or Constructive obligation to that expenditure, it is probable
settlement is required and the amount can be measured reliably. All costs are allocated to the applicable
expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to
particular headings they have been allocated on a basis consistent with the use of resources, with central staff
costs allocated on the basis of time spent. and depreciation charges allocated on the portion of the asset's use.
other support costs are allocated based on the spread of staff costs.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for
its beneficiaries. It includes both costs that can be allocated direclly to such activities and those costs of an indirect
nature necessary lo support them.
Governance costs
These include the costs attributable to the charrty's compliance with constitutional and statutory requirements,
including audit, strategic management and trustees meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and
therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is
potentially exempt from taxation in respect of income or capital gains received within categories covered by
Chapter 3 Part 11 of Ihe Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, 10
the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £500 or more are initially recorded at cost.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation. less any estimated residual
value, over their expected useful economic life as follows-
Asset class
Freehold buildings
Equipment, fixtures & fittings
Depreciation method and rate
Over 50 years
5-20 years straight line
Stock
Stock is valued at Ihe lower of cost and net realisable value, after due regard for obsolete and slow moving stocks.
Net realisable value is based on selling price less anticipated selling costs. Items donated for resale or distribution
are not included in the financial statements until they are sold or distributed.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course
of business.
Trade debtors are recognised at the transaction price, less provision for impairment. A provision for the impairment
of trade debtors is established when there is objective evidence that the charity will not be able to collect all
amounts due according to the original terms of the receivables.
Page 12

Louth Playgoers Society Limited
Notes to the Financial Statements for the Year Ended 31 May 2024
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits. and other short-term highly liquid
investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of
change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an
unconditional right, at the end of the reporting period, to defer settlement of Ihe creditor for at least twelve months
after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the
reporting date, they are presented as non-current liabilities.
Trade creditors are recognised at the transaction price.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Inlerest-bearing borrowings
are subsequently carried at amortised cost, with the difference between the proceeds. net of transaction costs, and
the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the
period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and
similar charges.
Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlemenl of the
liability for at leasl twelve months after the reporting date.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of
the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is
restricted to Ihat area or purpose.
Pensions and other post retirement obligations
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the
Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient
assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions lo defined contribution plans are recognised as employee benefit expense when they are due.
Page 13

Louth Playgoers Society Limited
Notes to the Financial Statements for the Year Ended 31 May 2024
3 Income from donations and legacies
Unrestricted
Total
2024
Total
2023
General
Donations and legacies:
Donations and gifts
15.122
15,122
15.122
5,123
15,122
5.123
4 Income from charitable activities
Unrestricted
funds
General
Total
2024
Total
2023
Other income
Refreshments
Musical
Workshops
Pantomime
Grants receivable
Programmes
Box office
Theatre cards
Letlings and commissions
1.147
69,742
39,419
2,331
36,616
17.605
2,979
209.049
1.005
29,948
1,147
69.742
39.419
2,331
36,616
17,605
2,979
209,049
1.005
29,948
48,893
38,452
3,145
27,113
55,071
1,226
149,344
1,296
12,287
409.841
409,841
336,830
5 Investment income
Unrestricted
Total
2024
Total
2023
General
Interest receivable on bank deposits
730
730
209
Page 14

Louth Playgoers Society Limited
Notes to the Financial Statements for the Year Ended 31 May 2024
6 Expenditure on charitable activities
Unrestricted
Total
2024
Total
2023
General
Restricted
Note
Cost of goods sold
Royalties & play copies
Sets, properties, costumes &
rehearsals
Visiting artists & companies
Publicity
Workshop fees
Depreciation. amortisation and
other similar ¢osts
Staff costs
Allocated support costs
Governance costs
30,512
4,631
30,512
4,631
23,018
1,755
9,453
101.518
20,015
3,507
9.453
101.518
20,015
3,507
31,307
75,035
29,672
3,996
16,656
116,028
111,349
5,186
418,855
36.908
53.564
116,028
111,349
5,186
455,763
53,434
105,989
72,301
4,403
400,910
10
36.908
Page15

Louth Playgoers Society Limited
Notes to the Financial Statements for the Year Ended 31 May 2024
7 Analysis of governance and support costs
Allocated support costs
Unrestricted
Total
2024
Total
2023
General
Premises costs
Bank charges and cardnet fees
General office expenses
Bad debts written off
71,008
4.167
35.350
824
71,008
4,167
35.350
824
45,327
2,718
24.256
111,349
111.349
72.301
Governance costs
Unrestricted
Total
2024
Total
2023
General
Independent examiner fees
Examination of the financial statements
Premises costs
4,794
392
4,794
392
3,872
531
5,186
5,186
4,403
8 Net incomingloutgoing resources
Net outgoing resources for the year include=
2024
2023
Loss on disposal of fixed assets held for the charity's own use
Depreciation of fixed assets
1640)
54,074
53,564
9 Trustees remuneration and expenses
No trustees, nor any persons connected with them. have received any remuneration from Ihe charity during the
year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
Any connection be￿een a committee member of the company with a production company, contracted actor or
performer must be disclosed to the full board in the same way as any other contractual relationship with a related
party. No such related party transactions were reported during the year.
Page 16

Louth Playgoers Society Limited
Notes to the Financial Statements for the Year Ended 31 May 2024
10 Staff costs
The aggregate payroll costs were as follows..
2024
2023
Staff costs during the year were:
Wages and salaries
Pension costs
other staff costs
108.745
654
6,629
116,028
98.879
1,029
6,081
105,989
The monthly average number of persons (including senior management I leadership team) employed by the charity
during the year was as follows:
2024
2023
Manager, box office assistants and cleaners
4 {2023 - 2) of the above employees participated in the Defined Contribution Pension Schemes.
Contributions to the employee pension schemes for the year totalled £654 (2023 - £1,029).
No employee received emoluments of more than £60.000 during the year.
The lotal employee benefits of the key management personnel of the charity were £62,223 {2023 - £42,091).
11 Independent examinerfs remuneration
2024
2023
Examination of the financial statements
4,794
3,872
The above fees are inclusive of VAT.
12 Taxation
The charity is a registered charity and is therefore exempt from taxation.
Page 17

Louth Playgoers Society Limited
Notes to the Financial Statements for the Year Ended 31 May 2024
13 Tangible fixed assets
Land and
buildings
Furniture and
equipment
Total
Cost
At 1 June 2023
Additions
2,232,940
265,224 2,498,164
2.000
2,000
At 31 May 2024
2,232,940
267,224 2,500.164
Depreciation
Al 1 June 2023
Charge for the year
At 31 May 2024
988.604
44,659
205,707 1,194,311
8,905
53,564
1,033,263
214.612 1.247.875
Net book value
At 31 May 2024
At 31 May 2023
1,199,677
52.612 1.252,289
1,244,336
59.517 1,303.853
14 Stock
2024
2023
6,291
Stocks
2,117
15 Debtors
2024
2023
Trade debtors
Prepayments
11,010
3,373
14,383
2.183
6,816
8,999
16 Cash and cash equivalents
2024
2023
Cash on hand
Cash at bank
1,025
110,037
111,062
1,025
120,814
121,839
Page 18

Louth Playgoers Society Limited
Notes to the Financial Statements for the Year Ended 31 May 2024
17 Creditors: amounts falling due within one year
2024
2023
Trade creditors
Other taxation and social security
Accruals
Deferred income
9.629
1,177
3,380
17.698
12,544
207
3,095
47,099
62,945
31,884
2024
2023
Deferred income at 1 June 2023
Resources deferred in the period
Amounts released from previous periods
Deferred income at year end
47,099
17.698
(47,099)
17,698
27,295
47,099
{27.295)
47,099
£0 (2023.. £17,105} of deferred income relates to grants received, deferred to cover potential losses from touring
productions in future periods.
£17,69812023'. £29,994) of deferred income relates to receipls received in advance for future productions.
18 Funds
Balance at 1
June 2023
Incoming
resources
Resources
expended
Balance at 31
May 2024
Transfers
Unrestricted funds
General
Unrestricted income fund
Other
Building rnainlenance fund
Seat refurbishment fund
335.312
425,693
(418.855)
4,825
346,975
8.355
3,277
{4,825)
3,530
3,277
11,632
{4,825)
6,807
Total unrestricted funds
Restricted
European Regional
Development Fund grant
Lottery grant
East Midlands
Development Agency
grant
East Lindsey District
Council grant
Louth Town Council grant
346,944
425,693
(418,855)
353.782
155,596
796.836
(6,043)
(28.398}
149.553
768,438
51,202
(1.271)
49,931
24,816
2,643
(1,101)
(95)
23,715
2,548
Total restricted funds
1.031,093
(36.908)
994,185
Total funds
1.378,037
425.693
{455,763
1,347,967
Page 19

Louth Playgoers Society Limited
Notes to the Financial Statements for the Year Ended 31 May 2024
Balance at 1
June 2022
Incomlng
resources
Resources
expended
Balance at 31
May 2023
Transfers
Unrestricted funds
General
Unrestricted income fund
352.440
342.162
(363,792)
4,502
335.312
Other
Building maintenance fund
Seat refurbishment fund
12.857
3.277
(4,502)
8,355
3,277
16.134
4,502}
11,632
Total unrestricted funds
368,574
342,162
(363,792)
346,944
Restricted
European Regional
Development Fund grant
Lottery grant
East Midlands
Development Agency
grant
East Lindsey District
Council grant
Louth Town Council grant
161,639
825,444
(6.043)
(28.608)
155,596
796,836
52,473
(1,271)
51,202
25.917
2.738
{1,101)
(95)
24.816
2,643
Total restricted funds
1,068.211
(37,118)
1,031,093
Total funds
1.436,785
342,162
{400,910)
1,378,037
The specific purposes forwhich the funds are to be applied are as follows:
The above restricted grants have been received for the purpose of building a new theatre and providing some
equipment for the society. It should be noted that the East Midlands Development Agency has now been
disbanded.
The outward movement of the restricted funds is the depreciation on the building. fixtures, fittings and equipment.
Sufficient resources have been generated, enabling the grants to be applied correctly.
19 Analysis of net assets between funds
Unrestricted
funds
General
Total funds
at 31 May
2024
Restricted
funds
Tangible fixed assets
Current assets
Current liabilities
258.104
127.562
(31,884)
353,782
994,185
1,252,289
127,562
131,8841
1,347,967
Total net assets
994.185
Page 20

Louth Playgoers Society Limited
Notes to the Financial Statements for the Year Ended 31 May 2024
20 Analysis of net funds
At 1 June
2023
Financing
cash flows
At 31 May
2024
Cash at bank and in hand
121.839
{10,777)
{10,777
111,062
Net debt
121.839
111,062
Page 21