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2022-03-31-accounts

THE PLAYGROUND THEATRE COMPANY LIMITED REGISTERED CHARITY NUMBER: 1085435

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022 THE PLAYGROUND THEATRE COMPANY LIMITED

THE PLAYGROUND THEATRE COMPANY LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022

CONTENTS
General information
Report of the Trustees
Report of the Independent Examiner
Statement of Financial Activities
Balance Sheet
Notes to the Accounts		 PAGE
1
2 to 3
4
5
6 to 7
8 to 10

THE PLAYGROUND THEATRE COMPANY LIMITED

GENERAL INFORMATION FOR THE YEAR ENDED 31 MARCH 2022

REGISTERED COMPANY NUMBER

03534123 (ENGLAND & WALES)

REGISTERED CHARITY NUMBER

1085435

BOARD OF TRUSTEES (DIRECTORS)

Miss Sally Davies Mrs Naomi Sorkin Tate Mr Andrew Bailey (non-director)

ORGANISATIONAL STRUCTURE

The Board comprises up to 3 trustees, each trustee either being selected at the annual general meeting, or co-opted by the Trustee Board. The latter may not exceed one-half of the total number of trustees. The Trustees, except Mr A Bailey, are also directors of the Charity for the purposes of the Companies Act, and present their annual report and financial statements for the year ended 31st March 2022.

COMPANY SECRETARY

Mrs. N. S. Tate

NAME AND REGISTERED OFFICE OF THE CHARITY

The Playground Theatre Company Limited is a private company, limited by gurantee, registered in England and Wales. Its registered office is situate at Unit 8 Latimer Road Industrial Estate, 343-543 Latimer Road, Kensington, London, W10 6RQ.

CONSTITUTION

The Charity was formed on 24th March 1998 as a company limited by guarantee, governed by its own Memorandum and Articles of Association. It is registered with the Charity Commission. The company was awarded Charitable Status on 7th March 2001 under the Charity No. 1085435. The trustees, of whom Mrs N.S. Tate and Miss S. Davies are also directors for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st March 2022. The trustees have adopted the provisions of 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 (FRS 102) (effective 1st January 2015).

ACCOUNTANTS

Daniel Wolfson & Co 34a Watling Street Radlett Herts WD7 7NN

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THE PLAYGROUND THEATRE COMPANY LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2022

OBJECTIVES AND ACTIVITIES

The principal objects of the Company are to inform and educate through the use of performing arts and literal creation.

PUBLIC BENEFIT

The Trustee Board has considered the Charity Commission's public benefit guidance and is satisfied that the objectives and activities of the charity as described below meet the public benefit requirement.

FINANCIAL REVIEW OF ACTIVITIES IN THE YEAR TO 31 MARCH 2022

The financial results for the charity are set out on pages 5 to 10 of this document. The organisation is run on a not for profit basis but for prudent management the Board aims to maintain a level of reserves to establish a sustainable entity and guard against contingencies. For the year ended 31st March 2022 the charity incurred a deficit of £63,907. The current reserves as at the balance sheet date show a surplus of £56,230. Amounts falling due after more than one year include an interest free loan from Peter Tate (a connected person to one of the trustees, Mrs N. Tate) with no set terms for interest or repayment.

STATEMENTS OF TRUSTEES’ RESPONSIBILITIES

The trustees are responsible for preparing the Trustees' Annual Report and financial statements in accordance with applicable law and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).

The trustees are required by company law to prepare financial statements for each financial year which give a true and fair view of the financial activities of the charity and of its financial position at the end of that year. In preparing those financial statements the Trustees are required to:

The Trustees have overall responsibility for ensuring that the Charity has appropriate systems of control, financial and otherwise. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity, enabling them to ensure that the financial statements comply with the Companies Act 2006 and Charities Act 2011.

They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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THE PLAYGROUND THEATRE COMPANY LIMITED

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31ST MARCH 2022

ACCOUNTANTS

Daniel Wolfson & Co have been re-appointed as the Company’s accountants. A resolution to re-appoint Daniel Wolfson & Co again will be proposed at the forthcoming Annual General Meeting.

By Order of the Trustees:

...................................................................... Mrs N S Tate

Date: 13 December 2022

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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF

THE PLAYGROUND THEATRE COMPANY LIMITED

I report on the accounts for the year ended 31 March 2022 set out on pages five to ten.

Respective responsibilities of trustees and examiner

The charity's trustees (of whom Mrs N.S. Tate and Miss S. Davies are also directors for the purposes of company law) are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required. The charity's gross income did not excee £250,000 and I am qualified to undertake the examination by being a qualified member of CIMA.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

Basis of the independent examiner's report

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view ' and the report is limited to those matters set out in the statements below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

have not been met; or

S Agarwal Daniel Wolfson & Co 34a Watling Street Radlett Hertfordshire WD7 7NN

Date: 10 December 2022

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THE PLAYGROUND THEATRE COMPANY LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2022

Notes
Incoming resources
Donations
2
Bank interest
3
Grant income
4
Art council grants
5
Total incoming resources
Resources expended
Cost of generating funds:
Cost of activities in furtherance of the
charity’s objectives:
Charitable expenditure:
Management and administration
Total resources expended
NET (OUTGOING)/INCOMING
RESOURCES FOR THE YEAR
Gross transfers between funds
NET SURPLUS (DEFICIT) FOR THE
YEAR
Total Fundsbrought forward:-
Total Fundscarried forward		 Unrestricted
Funds
£
238,547
8
-
238,555
(231,616)
(70,846)
(302,462)
(63,907)
-
(63,907)
120,137
56,230		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-		 31.03.22
Total funds
£
238,547
8
-
238,555
(231,616)
(70,846)
(302,462)
(63,907)
-
(63,907)
120,137
56,230		 31.03.21
Total funds
£
135,204
19
124,834
260,057
(114,477)
(52,684)
(167,161)
92,896
-
92,896
27,241
120,137

The notes form part of these financial statements

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THE PLAYGROUND THEATRE COMPANY LIMITED BALANCE SHEET AS AT 31ST MARCH 2022

Notes
FIXED ASSETS
Tangible assets
6
CURRENT ASSETS
Debtors & Prepayments
7
Cash at bank and in hand
CREDITORS:
Amounts falling due within one year:
8
NET CURRENT ASSETS
NET ASSETS LESS CURRENT
LIABILITIES
CREDITORS:
Amounts falling due after more than one
9
year:
NET ASSETS/(LIABILITIES)
10
FUNDS
Unrestricted funds
Restricted Funds
TOTAL FUNDS		 Unrestricted
Funds
£
9,891
9,891
80,061
1,413
81,474
(18,135)
63,339
73,230
17,000
56,230		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-		 31.03.22
Total funds
£
9,891
9,891
80,061
1,413
81,474
(18,135)
63,339
73,230
17,000
56,230
56,230
-
56,230		 31.03.21
Total funds
£
4,891
4,891
7,926
131,887
139,813
(1,567)
138,246
143,137
23,000
120,137
120,137
-
120,137

The notes form part of these financial statements

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THE PLAYGROUND THEATRE COMPANY LIMITED BALANCE SHEET AS AT 31st March 2022

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies for the period ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for:

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies and with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The financial statements were approved by the Board of Directors on 31st December 2022 and were signed on its behalf by:

Mrs. N. S. Tate

Date: 13 December 2022

The notes form part of these financial statements

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THE PLAYGROUND THEATRE COMPANY LIMITED NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022

1. PRINCIPAL ACCOUNTING POLICIES

Accounting convention

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Incoming resources

All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Resources expended

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost or valuation of each asset less any estimated residual value, over its estimated useful life. Fixtures and fittings - Straight line over 3 years Computer equipment - Straight line over 3 years

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. VOLUNTARY INCOME

Donations
3.
INTEREST INCOME
Current account interest
4.
INCOMING RESOURCES FROM CHARITABLE ACTIVITIES
Activity
Art Council Grants		 31.03.22
£
238,547
31.03.22
£
8
31.03.22
£
-		 31.03.21
£
135,204
31.03.21
£
19
31.03.21
£
124,834

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THE PLAYGROUND THEATRE COMPANY LIMITED NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022

5. STAFF COSTS

----- Start of picture text -----
|||| |---|---|---| |31.03.22|31.03.21| |£|£| |Directors' remuneration|-|-|

----- End of picture text -----

No Trustees or person related or connected by business to them, has received any remuneration from the charity during the year.

6. TANGIBLE FIXED ASSETS

----- Start of picture text -----
||||| |---|---|---|---| |Plant &|Computer| |Total| |Machinery|Equipment| |£|£|£| |COST| |At 1st April 2021|22,854|2,376|25,230| |Additions|11,168|-|11,168| |At 31st March 2022|34,022|2,376|36,398| |DEPRECIATION| |At 1st April 2021|18,687|1,652|20,339| |Charge for the year|5,806|362|6,168| |At 31st March 2022|24,493|2,014|26,507| |Net book value| |At 31st March 2022|9,529|362|9,891| |At 31st March 2021|4,167|724|4,891| |7.|DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR| |31.03.22|31.03.21| |£|£| |Social security and other taxes|110|110| |VAT|3,311|3,126| |Prepayments and accrued income|76,640|4,690| |80,061|7,926| |8.|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR| |31.03.22|31.03.21| |£|£| |Trade creditors|15,785|517| |Accruals and deferred income|2,350|1,050| |18,135|1,567|

----- End of picture text -----

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THE PLAYGROUND THEATRE COMPANY LIMITED NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.03.22 31.03.22 31.03.21
£ £
Other creditors 17,000 23,000
10. MOVEMENT OF RESTRICTED AND UNRESTRICTED FUNDS
Unrestricted Funds b/forward
At 1.04.21
£		 Net
Movement
£		 c/forward
31.03.22
£
General funds 120,137 (63,907) 56,230
Restricted Funds
General restricted funds - - -
as at 31 March 2021 120,137 (63,907) 56,230

11. SHARE CAPITAL

The company is limited by guarantee and therefore has no allotted share capital.

Members of the company have a contingent liability arising from the guarantee given by each member to contribute, if required or on winding up, an amount not exceeding £1.

12. TRANSACTIONS WITH DIRECTORS

The company leases premises from Mrs. N. Tate (a serving director and charity trustee) and Mr. P. Tate (a connected person). The rent paid is below current market value in recognition of the company's charitable status.

Included in other creditors is an amount of £17,000 (2021 - £23,000) owed to Mr. P. Tate.

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