Registered number.. 03983323 Charity number.. 1081752 ST. GEORGE'S THEATRE TRUST (A Company Limited by Guarantee) UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
ST. GEORGE'S THEATRE TRUST (A Company Limited by Guarantee) CONTENTS Page Reference and Administrative Details of Ihe Company, its Trustees and Advisers Trustees, Report Independent Exarniner's Report Statement of Financial Aclivities Balance Sheet 9-10 Notes to the Financial Statements
ST. GEORGE'S THEATRE TRUST (A Company Limited by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustee5 W Ellis (resigned 22 August 2024) S Hood R Pickering S Scotl, Chair P Wylie Iresigned 22 August 2024) Company regislered number 03983323 Charity registered number 1081752 Registered office St George's Theatre King Street Great Yarmouth Norlolk NR30 2PG Company secretary J A Goffin Accountants BW Audit Limiled Chartered Accountants Berry & Warren 54 Thorpe Road Norwich NR1 IRY Solicilors Hansells Cambridge House 26 Tombland Norwich Norfolk NR3 IRE Page I
ST. GEORGE'S THEATRE TRUST (A Company Limited by Guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their annual report togelher with the financial statements of the company for the year I April 2023 10 31 March 2024. The Annual Report serves the purposes of both a Trustees, report and a directors, report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice ISORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective l January 2019). Since the company qualifies as small under section 382 of the Companies Acl 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors, Reporl) Regulations 2013 has been omitted. Objectives and aclivilies a, Objectives and activities The Trust's principal objectives are to advance public education in the arts and to improve and develop public taste, appreciation and understanding of the arts in Great Yarmouth and the surrounding district. The charity will fulf il its objectives by: a) Managing and operaling St George's Theatre, the cafe / bar and the adjacent amenity and performance areas to provide a balanced and broad range of cultural activitie5 on the premises including theatre, cinema, performing ar15, arts centre. community use. civic purposes, training, and olher events (including craft fairs, antique fairs, Irade fairs. banqueting and functions); b) Operating the cafe / bar for the benefit of the public generally and more specifically for those visiling the Ihealre- c) Generating income to maintain lin conjunction with its landlord Great Yarmouth Borough Council) the fabric of Sl George's Theatre and the cafe / bar for the long term benefit of the local community. The Trust will.. Ensure that its income is used only for the purposes set oul above. Only carry out activities at other locations which are ancillary or incidenlal to (a) and (bl above. b. Public Benefit The Trustee5 confirm thal they have paid due regard to the Charity Commission guidance on public benefit in deciding whal activitie5 Ihe Trust will underlake. It is considered thal the Trusl will provide public benefit through.. a) Allowing member5 of the public access, without charge. lo the theatre so a5 to view its historic and architectural features for a minimum of100 hours in each calendar year- b) Allowing members ol the public access without charge to the cafe / bar and amenity areas lor the purpose of rest and recrealion; c) The provision ol a range of cultural experiences for the community; d) The provision of educational opportunities to open a route for all ages in to the arts. Page 2
ST. GEORGE'S THEATRE TRUST (A Company Limited by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achievements and performance a. Review of activities There were 166 events during the year, all attracting good audiences. Highlighls included: Alan Aykbourn's comedy 'Season's Greetings, produced in association with Sheringham Little Thealre,, The Jungle Book, a 70- minute adaptation of the Disney film, performed by the St. George's Musical Theatre Group and Carol Churchill's play'Fen' performed by the Adult Drama Group. Captain Calamity's shows for children were as popular as ever. St George's Theatre again worked alongside Norfolk Music Hub and Sheringham Little Theatre to produce the pantomime Robin Hood, which was performed by six professional actors and 34 local schoolchildren. The show was very well received and was streamed to approximately 250,000 pupils in schools across the county. We also produced our own adult Pantomime in January. which sold out three performances. Live music. variely events and touring theatre produclions were staged throughout the year. Shows by musical tribute acts proved particularly popular, attracting good sized audiences and increasing the theatre's bar takings. We are continuing our programmes of working with young people, adult groups and community organisalions lo ensure that the theatre remains as inclusive and accessible as possible. The regular hirers of the Iheatre and cafe include: Leading Lives FABBA sessions for adulls with learning disabilitles, Chill Spot sessions by Mancroll Advice Project {MAP) and the Youth Advisory Board (YAB), Menscraft , Opening Doors, Golden Threads for recently widowed people, Broadway Bella'5 Dance School and Access Community Trust holiday club. Our grants this year included.. Norlolk Counly Council (NCC) Know Your Neighbour £53,916, Norwich Freemen's Charlty £10.550, Norfolk Community Foundation (NCF) £4.916 and £2,989.00, and Voluntary Norfolk E500. We also received our annual support grant of £25,000 from Great Yarmoulh Borough Council and 24,998 from Norfolk County Council. Financial review a. Review of results The financial results are shown in the Stalemenl of Financial Activities on page 8. A net loss was generated in the year amounting lo £55,306 (2023: E3D,017) after receipt of a management fee of £25,000 (2023: £25,000) from Great Yarmouth Borough Council. The charity'5 subsidiary, St George's Trading Limited. generated turnover of £66,728 {2023.' £53,316) and recorded a profit for the year of £40,692 (2023- E15.579). As al 315t March 2024 the company had net assets of £42,060 (2023: £1,368). The results of St George's Trading Limited have nL¥t been con501idated into the Trusl's accounls as the group is exempt from producing group accounls. The current year has been impacted by the financial effecl of building up produclions in the thealre following Ihe Covid lockdowns and restrictions. Page 3
ST. GEORGE'S THEATRE TRUST (A Company Limited by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 b. Going concern The Trustees have considered the charilvs position at the lime of signing the financial statements. As a community theatre that operates all year round to provide a wide variety of reasonably priced entertainment for local people including some pay-what-you-can evenls for hard-pressed families the theatre cannot rely on ticket sales alone for ils long term viability and will continue lo seek grant support from local aulhorities and charitable bodies. The management's success in achieving this support in recent years gives Trustees the onfidence lo believe that there will be sufficient funds to operate the theatre during 2024-25 and continue to provide local people wilh a varied programme of enlertainment. Reserves policy As at 31 March 2024, the Trust had unreslricted free reserves, being unreslricted reserves less fixed assets, of a deficit of E28,63812023: positive £45,166). Posl year end, the trading subsTdiary made a donation of its profit for the year ended 31 March 2024. This distribution returns the charity to positive unreslricled funds, The distribution has not been accrued for as stipulated by the Companies Act. The Trust held E18,819 (2023: ÉNil) in restricted funds. The Trust has total deficil reserve5 of £9,366 12023: positive £45,940). Truslees recognise the need to build up and retain reserves to provide for unexpected expendilure, for replacement Df equipment and to have funds available in case of an unforeseen downturn in income. The Trust reviews its reserves policy annually. This review encompasses the nature of the income and expenditure streams, the need to match variable income with fixed commitments and Ihe nature of the reserves. The Trustees aim to build up free reserves lo £70,000. d. Plans for future period The Trust has benefited from funding awards from several sources and will continue lo adopt a policy of seeking funding to provide community Èvenls, develop the work of the Youth Theatre Group and Adult Theatre Group, ensure accessibility for minority groups with special needs and provide a wide range of entertainment Ihat is affordable for all. The Trust continues to work towards audience development with the aim of providing artistic programming for all tastes and ages. Structure, governance and management a, Governing document Sl. George's Theatre Trust is a company limited by guaranlee governed by its Memorandum of Arlicles of Association. The company operates as a charitable trust, registered with the Charities Commission. The company adopted new Memorandum and Articles of Association on 27 July 2012 and were accepted by the Chariiy Commission in January 2013. These were further amended on 5 February 2016 to increase the maximum number of trustees from Iwelve to thirteen. Page 4
ST. GEORGE'S THEATRE TRUST (A Company Limited by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Slructure. governance and management (continued) b. Recruilment, Appointment and Training of Trustees The Trustees, who are also Directors of the charitable company for the purpose of company law and also the company's members, throughout the report are collectively referred to as the Trustees. The number of Truslees shall be not less than Ihree and nol more than thirteen persons. Truslees serve for a three year term of office and will not normally serve for more than three terms. Truslees shall be persons who through occupation. employment or otherwise have special knowledge of the area of benefit or who are otherwise able by virlue of their personal or professional qualifications to make a contribution to the pursuit of the objects of the charity. All new Trustees will be provided with: The governing document of the charity The latest financial statements of the charity And are encouraged to read Charity Commission guidance notes CC3 - The Essential Trustee need to know, what you need to do. 'What you In addition, the Trustees aro encouraged to ready Charity Commission and other newsletters and lo attend courses designed to keep them abreas1 of their duties and responsibilities. The Trustees who served during the year and al the date of the report are listed on page l. c. Risk Management The Trustees acknowledge the Charity Commission's recommendalion for them to undertake a review of the major risks lo which the trust is exposed. A f ull review of Ihe risks was completed and policies put in place d. Organisational Structure The Trusl is administered and controlled by the Trustees who meet bi-monthly. The day to day operation and services of the Trusl are under the conlrol of a Thealre Director. Page 5
ST. GEORGE'S THEATRE TRUST (A Company Limited by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Statement of Trustees, responsibilities The Trustees {who are also the directors of the company for the purposes of company law) are responsible for preparing the Trustees. Report and the financial statements in accordance with applicable law and United Kingdom Accounting Slandards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial stalemenls unless they are Satisfied that they give a Irue and fair view of the state of affairs of the company and of its incoming resources and application of resources, including ils income and expenditure, for that period. In preparing these financial statements, the Trustees are required to.. select suitable accounting policies and Ihen apply them consistently,. observe Ihe melhods and principles of the Charilies SORP (FRS 102); make judgments and accounting estimates that are reasonable and prudent; state whether applicable UK Accounting Standards (FRS 102) have been followed, subjecl lo any material departures disclosed and explained in the financial statemenls; prepare the financial statements on the going concern basis unless it is inappropriale to presume that the company will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose wilh reasonable accuracy at any lime the financial position of the company 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 company and hence for taking reasonable steps for the prevention and detection of fraud and olher irregularilies. Approved by order of the members of the board of Trustees and signed on their behalf by: S Scott Trustee Date: 27 November 2024 Page 6
ST. GEORGE'S THEATRE TRUST (A Company Limited by Guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 Independent Examiner's Report to the Trustees of St. George's Theatre Trust ('the company) I report lo the charity Trustees on my examination of the accounts of the company for the year ended 31 March 2024. Responsibilities and Basis of Report As the Truslees of the company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the company's accounts carried out under section 145 of the Charities Act 2011 ('Ihe 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent Examiner's Statement Since the company's gross income exceeded £250.000 your examiner must be a member of a body listed in section 145 of the 2011 Acl. I confirm that l am qualified lo undertake the examination because l am a member of Institute of Chartered Accountants in England and Wales. which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or the accounts do not accord with those records; or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair. view which is not a matter considered as part of an independent examination., or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connection with Ihe examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. This report is made solely to the company's Trustees, as a body. in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state lo the company's Trustees those matters l am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law. I do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body. for my work or for this report. Signed: Joanne Fox BA FCA Dated: 27 November 2024 BW Audit Limited Chartered Accountants Norwich Page 7
ST. GEORGE'S THEATRE TRUST (A Company Limited by Guarantee) STATEMENT OF FINANCIAL ACTivmES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 Unrestricled funds 2024 Restricted funds 2024 Total funds 2024 Totol fund5 2023 Note Income from; Donations and legacies Charitable aclivities Other trading aclivilies Investments 34.834 163.160 3.548 329 72,371 107,205 163,160 3.548 329 97,861 135,593 8,546 104 Total income 201.871 72,371 274,242 242,104 Expenditure on.. Charitable activities 275.996 53,552 329,548 272,121 Total expenditure 275,996 53,552 329,548 272,121 Nel movement in funds (74.125) 18,819 (5 5.306) (30,017) Reconciliation of funds: Total funds brought forward Net movement in funds 45.940 (74,125) 45,940 (55,306) 75,957 (30,0171 18,819 Total funds carried forward {28,185) 18,819 (9,366) 45,940 The Statement of Financial Aclivities includes all gains and losses recognised in the year. The notes on pages11 to 25 form parl of these financial statements. Page 8
ST. GEORGE'S THEATRE TRUST (A Company Limited by Guaranteel REGISTERED NUMBER: 03983323 BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Nole Fixed assets Tangible assets Investmenls 12 452 773 13 453 774 Current assets Debtors 14 38,093 10,908 34,139 60,974 Cash al bank and in hand 49,001 95,113 Creditors: amounts falling due within one year 15 (58,820) (49,947) Net current liabilities / assets (9,819) 45,166 Total assets less current liabilities {9,366) 45,940 Tolal net assets (9,366) 45,940 Charity funds Restricted funds Unrestricted funds 16 18,819 (28,185) 16 45,940 Total funds (9.366) 45,940 The company was entitled lo exemption from audit under section 477 of the Companies Act 2006. The members have not required the company lo obtain an audil for the year in question in accordance wilh seclion 476 of Companies Act 2006. The Trustees acknowledge their responsTbilities for complying wilh the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. Page 9
ST. GEORGE'S THEATRE TRUST (A Company Limited by Guarantee) REGISTERED NUMBER: 03983323 BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2024 The financial stalements were approved and authorised for issue by the Trustee5 and signed on Iheir behalf by: S Scott Trijstee Dale: 27 November 2024 The notes on pages 11 to 25 form part of these linancial statements. Page10
ST. GEORGE'S THEATrE TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 General information The Trust is a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is St George's Theatre, King Street, Great Yarmouth, Norfolk, NR30 2PG. The principal activilies of the Trust are detailed within the Trustees Report. I n the event of the company being wound up. the liability in respect of the guarantee is limited to £1 per member. Accounling policies 2.1 Basis of preparation of financial statements The financial slatements have been prepared in accordance with the Charitles SORP (FRS 1021 Accounting and Reporting by Charities: Slatemenl of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland (FRS 102> (effective l January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and Ihe Companies Act 2006. St. George's Theatre Trust meets Ihe definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless Otherwise stated In the relevant accounting policy. The Chariiy is not required to prepare consolidated accounts in accordance with the Charities Act 2011, and has taken advanlage of the option not to prepare consolidated financial slalements contained in Section 398 of the Companies Act 2006 on the basis that the Charity and 115 Subsidiary undertakings comprise a small group. 2.2 Going concern The Trust is reliant on the considerable support it receives from the public. partner organisations and donors. and has plans in place to ensure it can raise the necessary funds 50 that it can continue to operale, and continue to be an essential part ol the offering lo Great Yarmoulh residents and visitors. The trustees have considered available resources and projections which demonstrale thal the charity will have sufficienl cash to meet its liabilitie5 as il falls due. The Trustees have considered Ihe above, and the potential impact ol uncertainty over future funding and demand for performances. and CODcluded that Ihey have a reasonable expectation that the charity will have adequate resources to continue in operalional existence for at leasl 12 months from the dale of signing these financial statements. As such the Truslees conlinue to adopl the going concern basis in preparing these financial slalements. Page 11
ST. GEORGE'S THEATRE TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (continued) 2.3 Income All income is included in the stalemenl of financlal activities when entitlement has passed lo the charily, and it is probable that the economic benefits associated with the transaction will flow to the charily and the amount can be reliably measured. The following specific policies are applied lo particular categorie5 of income: Income from donations or grants is recognised when there is evidence of entitlement, receipt is probable and its amounl can be measured reliably. I ncome from donated goods is measured at Ihe fair value of Ihe goods unles5 this is impractlcal to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. Income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there 15 a contractual requirement for it to be spenl on a particular purpose and returned if unspent, in which case il may be regarded as restricted. Income from tickets is recognised in the period to which the show relates. 2.4 Expenditure Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings in Ihe Statement of the financial activities to which it relates: Expenditure on raising funds includes the costs of all fundraising activilies, events and noncharilable trading activities. Expenditure on charitable aclivities includes all costs incurred by the charity in underlaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to yovernance of the charity apportioned to the charitable activities. Olher expendilure includes all expenditure that is neither related to raising fund5 for the charity nor parl of ils expenditure on charitable activities. All costs are allocated to expendilure categories reflecting the use of the resource. Direct costs attributable lo a single activity are allocated directly io that activity. Shared costs are apportioned between the activilies they contribute to on a reasonable. justifiable and consistent basis, 2.5 Interest receivable Inlerest on funds held on deposit is included when receivable and the amounl can be measured reliably by the company: this is normally upon notificalion of the inlerest paid or payable by the institution wilh whom Ihe funds are deposited. Page12
ST. GEORGE'S THEATRE TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounling policies (continued) 2.6 Tangible fixed assets and depreciation Tangible fixed assets are initially recognised at cost. Afler recognition, under the cost model, tangible fixed assets are measured al cost less accumulated depreciation and any accumulated impairment losses. All cosls incurred to bring a tangible fixed asset into its intended working condition should be included in Ihe measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed asset5 less their residual value over their eslimated useful lives, using the 5lraight-line method. Deprecialion is provided on the following basis: Theatre equipment Office equipment 20°A slraight line 33Y• slrai9ht line 2.7 Investments Investments in subsidiaries are valued at cost less provision for impairment. 2,8 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.9 Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a shorl malurity of three months or less from Ihe date of acquisition or opening of the deposit or similar accounl. 2,10 Liabilities and provisions Liabilities are recognised when there is an obligation at Ihe Balance Sheet date a5 a result of a past event, it is probable Ihat a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised al the amount that the company anticipates It will pay to settle the debt or the amount it has received as advanced payments for the goods or services il musl provide. Provisions are measured at the best eslimate of the amounls required to seltle the obligation. Where the effect of the time value of money is material. Ihe provision is based on the present value of those amounts, discounted at the pre-tax discounl rale Ihal reflects the risks specific lo the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost. Page 13
ST. GEORGE'S THEATRE TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (continued) 2.11 Financial instruments The company only has f inancial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their setllement value. 2,12 Pensions The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company lo the fund in respect of the year. 2.13 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific reslriclions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is sel out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. Income from donations and legacies Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Donations Grants 4,656 29.998 180 4,656 102,369 180 72,371 Friend5 membership fees 34,834 72,371 107,205 Page 14
ST. GEORGE'S TrIEATRE TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Income from donations and legacies (continued) Unrestricted fund5 2023 Restricted funds 2023 Totol funds 2023 Donations 4,135 29,998 445 4.135 93,281 445 Grants Friends membership fees 63,283 34,578 63,283 97,861 I ncome from charitable activities Unrestricted funds 2024 Tolal funds 2024 Totol fund5 2023 Box Office admission fees and commission Hire of premises 155,530 7,630 155,530 7,630 127,358 8,235 163,160 163.160 135,593 Income from olher trading activilies Income Irom non charitable trading activities Unreslricted funds 2024 Total fund5 2024 Total funds 2023 Programme, merchandise and raffle income Advertising and sponsorship 3,548 3,548 2, 796 5, 750 3,548 3,548 8,546 Page15
ST. GEORGE'S THEATRE TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Investment income Unrestricted funds 2024 Total funds 2024 Totol funds 2023 Bank deposit inleresl 329 329 104 Analysis of expenditure on charilabte activities Summary by fund type Unrestricted funds 2024 Restricted fund5 2024 Total 2024 Expenditure on charitable activities 275,996 53.552 329,548 Unrestricted funds 2023 Restrlcted runds 2023 Total 2023 Expenditure on charilable activities 205.156 66,965 272,121 Analysis of expenditure by aclivilies Aclivities undertaken directly 2024 Total funds 2024 Total fvnds 2023 Expenditure on charitable activities 329.548 329,548 272.121 Page 16
ST. GEORGE'S THEATRE TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysis of expenditure by activities {continued) Analysis of direct cosls Total funds 2024 Total funds 2023 Staff costs 59,979 8,054 116,307 32,839 11,355 2,092 4,206 2,641 32,898 15,024 11,256 11,975 59,982 22,113 91,914 15,019 6,474 5,154 3, 752 4,990 18,967 11,852 10,619 8,611 190 Contract Staff Production Costs Project Grants Advertising Travel and subsistence Printing, slationery, IT and telephone Property Rates Heat, light and waler Repairs and Maintenance Printing, stalionary. IT and telephone Professional Fees Property Rates Bank charges and interesl Depreciation Irrecoverable VAT 1,785 775 1,699 1,209 6,972 2,604 15,962 2.400 Governance Costs 329,5148 272,121 Independent examiner's remuneralion 2024 2023 Fees payable to the company's independent examiner for the independent examination of the company's annual accounts 2.250 Fee5 payable to the company's former independenl examiner 2.490 Page17
ST. GEORGE'S THEATRE TRUST (A Company Limited by Guaranlee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 202A 10. Staff costs 2024 2023 Wages and salaries Contribution to defined contribution pension schemes 59,288 691 59,C106 976 59,979 59,982 The average number of persons employed by the company during the year was as follows.. 2024 2023 No. Employees No employee received remuneratlon amounting to more than £60,000 in either year. During the year E18,996 (2023 - £18,733) was paid to key management personnel in respect of salaries and employer's pension contributions. Trustees, remuneration and expenses During the year, no Trustees received any remuneration or other benefits (2023- £NIL). During the year ended 31 March 2024, no Trustee expenses have been incurred (2023- £NIL). Page IB
ST. GEORGE'S THEATRE TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12. Tangible fixed assels Theatre equipmenl Office equipment Tolal Cost or valuation At l April 2023 Additions 28,728 453 6.857 35,585 453 At 31 March 2024 29.181 6,857 36,038 Depreciation At l April 2023 Charge for the year 28.177 552 6,635 222 34,812 774 At 31 March 2024 28.729 6,857 35,586 Nel book value At 31 March 2024 452 452 At 31 March 2023 551 222 773 Page 19
ST. GEORGE'S THEATRE TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 13. Fixed asset inve51men15 Investments in subsidiary companies Cost or valuation At l April 2023 At 31 March 2024 Net book value At 31 March 2024 At 31 Morch 2023 Principal subsidiaries The followlng was a subsidiary undertaking of the company: Name Company number Registered olfice or principal place of business Class of shares Holding St George's Trading Ltd 07951033 Sl George's Theatre, King Street, Ordinary Great Yarmouth, NR30 2PG loo/. The financial resulls of the subsidiary for the year were: Name Income Expenditure Profil/(Loss) for the year Net assets Sl George's Trading Lld 66.728 (26.036) 40,692 42,060 Page 20
ST. GEORGE'S THEATRE TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 14. Debtors 2024 2023 Due within one year Trade debtors Amounts owed by group undertakings Other debtors Prepayments and accrued income 9,016 24,957 345 13.253 12,362 423 3,775 38,093 34,139 15. Creditors.. Amounts falling due within one year 2024 2023 Trade creditors Other taxation and social security Other creditors Accruals and deferred income 15,207 614 20,659 738 438 1,315 27,235 42,561 58,820 49,947 2024 2023 Deferred income at l April 2023 Resources deferred during the year Amounts released from previous periods 16,407 31,418 (14,741) 14,965 11.532 (10,090) 33,084 16,407 Deferred income represents funds received from the sale of tickets in advance of future performances and gift vouchÈrs yel to be redeemed. Page 21
ST. GEORGE'S THEATRE TRUST {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 16. Statement ol funds Slatement of funds current year Balance at I April 2023 Balance at 31 Income Expenditure March 2024 Unreslricled f unds General Funds 45.940 201,871 (275.996) (28,185) Restricted funds Arts workshop leader Arts for Everyone Know Your Neighbourhood Juke Box Thrive Project Hot Box Cafe 1,000 10,550 53,916 4,916 1.989 (1,000) 10,550 1.364 4,916 1,989 (52,552) 72,371 (53.552) 18,879 Tolal of funds 45,940 274,242 {329,548) (9,366) The Arts Workshop Leader provided funding for a year lo offer weekly drama sessions lo young people who cannot afford lo pay. Arts for Everyone is a project supporting pay what you can afford performances for lamilies. It also Supported a specialist Iheatre company to deliver a workshop and show for people suffering with demenlia and Iheir carers. Know Your Neighbourhood is a 3-part project with DIAL and Reprezent lo connect with others., supporting volunteers lo befriend visitors and put on activities at a volunteer cafe. Juke Box Thrive Project is a community theatre project exploring the sounds of the 60's in Great Yarmouth. Hot Box Cale is lo provide a warm hub for people and families suffering with the cost of living crisis. Page 22
ST. GEORGE'S THEATRE TRUST {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 16. Slatement of funds (conlinued) Statement of funds - prior year Bolonce ot 31 Murch 2023 Balance ot l April 2022 Income Expenditure Unrestricted f unds General Funds 72.275 178,821 (205,156) 45,940 Restricted funds Signage Fund Microphone fund Freemans Charity Fund National Lottery Communlty Fund Norfolk Community Foundation Right lo Succeed Jungle Book 2,054 (2,054) (1,628) (30,000) (9,990) (22,513) {280J (500) 1,628 30.000 9,990 22,513 280 500 3.682 63,283 (66,965) Total of fund5 75,957 242,104 {272,121J 45,940 Page 23
ST. GEORGE'S THEATRE TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 17. Analysis of net assets between funds Analysis of net assets between funds - currenl period Unrestricted funds 2024 Reslricted funds 2024 Total funds 2024 Tangible f ixed assets Fixed asset investments Current assets 452 452 30,182 (58,820) 18,819 49,001 {58,820) Creditors due within one year Total (28,185) 18,819 (9,366) Analysis of net assets between funds - prior period Unrestricted funds 2023 Total funds 2023 Tangible fixed assets Fixed asset inveslments 773 773 Current a55e15 95,113 {49,947J 95,113 (49,947) Creditors due within one year Total 45.940 45,940 18. Pension commilments The company operales a defined contribution pension scheme. The asset5 of the scheme are held separately from those of the company in an independenlly administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £691 (2023: £976). £179 (2023: £297) was payable to the fund al the balance sheet dale and is included in creditors. Page 24
ST. GEORGE'S THEATRE TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 19. Related parly transactions Steven Scott, a Trustee, has joint control of TMS Media Limited. During the period the Trust purchased services from Ihi5 company for £3,245 (2023: £2,455). A credilor balance of E228 (2023: E228) was outstanding at Ihe year end. Ryan Pickering, a Trustee, charged for work carried oul as project manager amounting to £1,512 (2023: £Nill, Sl George's Trading Limited is a wholly owned subsidiary of the Trust. A debtor balance of £24,957 (2023.. E12.362) was outstanding at the year-end. Recharges were invoiced to the charity from Sheringham Liltle Theatre Society tolalling E6,237 (2023: £14,414), a charity with key management personnel in common. At the year end £Nil12023: £1,629) was outstanding. Page 25