Company registration number: 04058070 Charity registration number: 1085862
The Nottingham Arts Theatre Limited
(A company limited by guarantee)
Annual Report and Financial Statements for the Year Ended 31 July 2020
Community Accounting Plus Units 1 & 2 North West 41 Talbot Street Nottingham NG1 5GL
The Nottingham Arts Theatre Limited
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 to 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 to 18 |
The Nottingham Arts Theatre Limited
Reference and Administrative Details
Trustees Raymond Wright Campbell Kay Michael Pearson Secretary Raymond Wright Principal Office 12 George Street Nottingham NG1 3BE Company Registration Number 04058070 Charity Registration Number 1085862 Independent Examiner John O'Brien, employee of Community Accounting Plus Units 1 & 2 North West 41 Talbot Street Nottingham NG1 5GL
Page 1
The Nottingham Arts Theatre Limited
Trustees' Report
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 July 2020.
Structure, governance and management
Nature of governing document
The charity is a company limited by guarantee and registered charity. It is operated under the rules of its memorandum and articles of association dated 23 August 2000 and most recently amended 28 September 2003. It has no share capital and the liability of each member in the event of winding-up is limited to £10.
Recruitment and appointment of trustees
The Board actively seeks to recruit trustees who have proven expertise in areas not already covered by present directors.
Objectives and activities
Objects and aims
To promote, maintain, improve and advance education by the encouragement of the arts, including the arts of drama, mime, dance, singing and music and to formulate, prepare and establish schemes to enable as wide a range of people in the Nottingham conurbation to access the arts through performance, stagecraft, workshops or as audience members.
Objectives, strategies and activities
Promoting, maintaining and improving education through the arts, drama, dance and singing.
Public benefit
Nottingham Arts Theatre is an educational charity established to develop the George Street building into a community theatre serving the people of Nottingham and providing education through the arts. To this end, we offer opportunities in lifelong learning through educational classes and support for amateur theatre groups.
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.
Achievements and performance
The theatre ran successfully up until the end of February 2020 with the annual pantomime, visiting theatre companies and local dance schools and universities. Unfortunately the theatre had to close due to Covid restrictions and government guidelines. We received further funding from Awards for All towards our Youth Theatre project which continues to run successfully.
Financial review
The directors are happy with the current finances, we have been successful with an Arts Council grant to enable us to stay financially viable during the Covid period.
Policy on reserves
Due to constant reinvestment in the improvement of the theatre's facilities any reserves are reinvested.
Page 2
The Nottingham Arts Theatre Limited
Trustees' Report
Statement of Trustees' Responsibilities
The trustees (who are also the directors of The Nottingham Arts Theatre Limited for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
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 satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and apply them consistently;
-
observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards 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 adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Small companies provision statement
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... Campbell Kay Trustee
Page 3
The Nottingham Arts Theatre Limited
Independent Examiner's Report to the trustees of The Nottingham Arts Theatre Limited
Independent examiner’s report to the trustees of The Nottingham Arts Theatre Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 July 2020.
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 ('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 your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 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
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 that in any material respect:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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 the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
......................................
John O'Brien MSc, FCCA, FCIE, employee of Community Accounting Plus Fellow of the Association of Charity Independent Examiners
Units 1 & 2 North West 41 Talbot Street Nottingham NG1 5GL
Date:.............................
Page 4
The Nottingham Arts Theatre Limited
Statement of Financial Activities for the Year Ended 31 July 2020 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income and Endowments from: Donations and legacies 2 Charitable activities 3 Other trading activities 5 Investment income 6 Total Income Expenditure on: Raising funds 7 Charitable activities 8 Total Expenditure Net income/(expenditure) Transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 19 |
Unrestricted funds £ 22,708 107,559 15,264 24 145,555 (6,996) (109,345) (116,341) 29,214 (2,035) 27,179 254,970 282,149 |
Restricted funds £ - 12,820 - - 12,820 - (16,476) (16,476) (3,656) 2,035 (1,621) 12,372 10,751 |
Total 2020 £ 22,708 120,379 15,264 24 158,375 (6,996) (125,821) (132,817) 25,558 - 25,558 267,342 292,900 |
Total 2019 £ 8,114 153,645 18,510 10 |
|---|---|---|---|---|
| 180,279 | ||||
| (8,446) (151,878) |
||||
| (160,324) | ||||
| 19,955 - |
||||
| 19,955 247,387 |
||||
| 267,342 |
All of the charity's activities derive from continuing operations during the above two periods.
Page 5
The Nottingham Arts Theatre Limited
Statement of Financial Activities for the Year Ended 31 July 2020 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
These are the figures for the previous accounting period and are included for comparative purposes
| Note Income and Endowments from: Donations and legacies 2 Charitable activities 3 Other trading activities 5 Investment income 6 Total income Expenditure on: Raising funds 7 Charitable activities 8 Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 19 |
Unrestricted funds £ 8,114 136,182 18,510 10 162,816 (8,446) (146,787) (155,233) 7,583 7,583 247,387 254,970 |
Restricted funds £ - 17,463 - - 17,463 - (5,091) (5,091) 12,372 12,372 - 12,372 |
Total 2019 £ 8,114 153,645 18,510 10 |
|---|---|---|---|
| 180,279 | |||
| (8,446) (151,878) |
|||
| (160,324) | |||
| 19,955 | |||
| 19,955 247,387 |
|||
| 267,342 |
Page 6
The Nottingham Arts Theatre Limited
(Registration number: 04058070) Balance Sheet as at 31 July 2020
| Note Fixed assets Tangible assets 14 Current assets Stocks 15 Debtors 16 Cash at bank and in hand 17 Creditors: Amounts falling due within one year 18 Net current assets Net assets Funds of the charity: Restricted income funds Restricted funds Unrestricted income funds Unrestricted funds Total funds 19 |
2020 £ 262,865 1,511 7,212 76,252 84,975 (54,940) 30,035 292,900 10,751 282,149 292,900 |
2019 £ 264,577 990 5,058 34,786 |
|---|---|---|
| 40,834 (38,069) |
||
| 2,765 | ||
| 267,342 | ||
| 12,372 254,970 |
||
| 267,342 |
For the financial year ending 31 July 2020 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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 with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements on pages 5 to 18 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:
......................................... Raymond Wright Company Secretary and Trustee
Page 7
The Nottingham Arts Theatre Limited
Notes to the Financial Statements for the Year Ended 31 July 2020
1 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise 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 (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.
Basis of preparation
The Nottingham Arts Theatre Limited meets the 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 notes.
Going concern
The financial statements have been prepared on a going concern basis.
The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.
Exemption from preparing a cash flow statement
The charity opted to adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Income and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
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 fulfilled in the reporting period.
Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
Page 8
The Nottingham Arts Theatre Limited
Notes to the Financial Statements for the Year Ended 31 July 2020
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.
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.
Raising funds
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
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 directly to such activities and those costs of an indirect nature necessary to support them.
Government grants
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
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 the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £500.00 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 Depreciation method and rate IT equipment 33.3% straight line basis General equipment 20.0% straight line basis Furniture and fittings 20.0% straight line basis
Page 9
The Nottingham Arts Theatre Limited
Notes to the Financial Statements for the Year Ended 31 July 2020
Stock
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO).
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 initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, 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.
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 the 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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
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 grants for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Pensions and other post retirement obligations
The charity operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the charity. Pension costs charges in the Statement of Financial Activities represent the contributions payable by the charity during the year.
Page 10
The Nottingham Arts Theatre Limited
Notes to the Financial Statements for the Year Ended 31 July 2020
2 Income from donations and legacies
| Donations and legacies; Donations from companies, trusts and similar proceeds Donations from individuals Grants, including capital grants; Government grants |
Unrestricted funds General £ 6,820 - 15,888 22,708 |
Total 2020 £ 6,820 - 15,888 22,708 |
Total 2019 £ 5,900 2,214 - |
|---|---|---|---|
| 8,114 |
3 Income from charitable activities
| External hire of theatre & fees NAT shows Pantomime membership Sundry income Grants & donations |
Unrestricted funds General £ 45,021 60,465 2,073 - - 107,559 |
Restricted funds £ - - - - 12,820 12,820 |
Total 2020 £ 45,021 60,465 2,073 - 12,820 120,379 |
Total 2019 £ 65,810 68,826 1,488 58 17,463 |
|---|---|---|---|---|
| 153,645 |
4 Grants & donations
| Awards for All Thomas Farr Charity Nottingham City Council HMRC (CJRS) Sir John Eastwood Foundation Sundry grants & donations |
Unrestricted funds £ - - 10,000 5,888 1,000 5,820 22,708 |
Restricted funds £ 9,820 3,000 - - - - 12,820 |
Total £ 9,820 3,000 10,000 5,888 1,000 5,820 |
|---|---|---|---|
| 35,528 |
Page 11
The Nottingham Arts Theatre Limited
Notes to the Financial Statements for the Year Ended 31 July 2020
5 Income from other trading activities
| Trading income; Sales of goods and services Local fundraising and street collection income 6 Investment income Interest receivable and similar income; Interest receivable on bank deposits |
Unrestricted funds General £ 15,193 71 15,264 Unrestricted funds General £ 24 |
Total 2020 £ 15,193 71 15,264 Total 2020 £ 24 |
Total 2019 £ 17,315 1,195 |
|---|---|---|---|
| 18,510 | |||
| Total 2019 £ 10 |
7 Expenditure on raising funds
a) Costs of trading activities
| Costs of goods sold | Unrestricted funds General £ 6,996 6,996 |
Total 2020 £ 6,996 6,996 |
Total 2019 £ 8,446 |
|---|---|---|---|
| 8,446 |
Page 12
The Nottingham Arts Theatre Limited
Notes to the Financial Statements for the Year Ended 31 July 2020
8 Expenditure on charitable activities
| Bank charges Bad debts written off Box office expenses Cleaning Communications Depreciation Commission Equipment, repairs & maintenance Hospitality & travel Insurance Internal charges Marketing & PR Merchandise purchases Printing & stationery Professional fees & licences Room hire Salaries, NI & pensions Show costs Sundry expenditure Training Utilities Volunteer expenses |
Unrestricted funds General £ 65 - 5,741 497 2,177 1,712 113 14,542 131 5,066 (6,190) 358 1,291 1,799 9,985 1,785 37,415 21,723 31 - 10,903 201 109,345 |
Restricted funds £ - - - - 18 - - 104 - - 6,190 69 403 48 - - 7,383 2,246 15 - - - 16,476 |
Total 2020 £ 65 - 5,741 497 2,195 1,712 113 14,646 131 5,066 - 427 1,694 1,847 9,985 1,785 44,798 23,969 46 - 10,903 201 125,821 |
Total 2019 £ 60 43 6,234 984 2,260 1,470 38 18,805 35 4,945 - 1,213 2,549 1,489 12,003 540 41,110 44,441 377 891 12,133 258 |
|---|---|---|---|---|
| 151,878 |
Page 13
The Nottingham Arts Theatre Limited
Notes to the Financial Statements for the Year Ended 31 July 2020
9 Net incoming/outgoing resources
Net incoming resources for the year include:
Depreciation of fixed assets
| 2020 | 2019 |
|---|---|
| £ | £ |
| 1,712 | 1,470 |
10 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
11 Fees payable to independent examiner
During the period, the fees payable (excluding VAT) to the charity’s independent examiner Community Accounting Plus are analysed as follows:
| Independent examination Other financial services |
2020 £ 930 2,932 3,862 |
2019 £ 900 3,358 |
|---|---|---|
| 4,258 |
12 Staff costs
The aggregate payroll costs were as follows:
| Staff costs during the year were: Wages and salaries Pension costs |
2020 £ 44,586 212 44,798 |
2019 £ 40,948 162 |
|---|---|---|
| 41,110 |
The monthly average number of persons (including senior management team) employed by the charity during the year was as follows:
Number of employees
| 2020 | 2019 | ||
|---|---|---|---|
| No | No | ||
| 14 | 16 |
1 (2019 - 1) of the above employees participated in the Defined Contribution Pension Schemes.
Contributions to the employee pension schemes for the year totalled £212 (2019 - £162).
No employee received emoluments of more than £60,000 during the year.
Page 14
The Nottingham Arts Theatre Limited
Notes to the Financial Statements for the Year Ended 31 July 2020
13 Taxation
The charity is a registered charity and is therefore exempt from taxation.
14 Tangible fixed assets
| 14 Tangible fixed assets | |||||
|---|---|---|---|---|---|
| Cost At 1 August 2019 At 31 July 2020 Depreciation At 1 August 2019 Charge for the year At 31 July 2020 Net book value At 31 July 2020 At 31 July 2019 |
Land and buildings £ 258,695 258,695 - - - 258,695 258,695 |
Furniture and fittings £ 6,950 6,950 1,390 1,390 2,780 4,170 5,560 |
IT equipment £ 1,830 1,830 1,830 - 1,830 - - |
General equipment £ 9,624 9,624 9,302 322 9,624 - 322 |
Total £ 277,099 |
| 277,099 | |||||
| 12,522 1,712 |
|||||
| 14,234 | |||||
| 262,865 | |||||
| 264,577 |
The property was purchased in 2000 for £150,000 from the Co-operative Society. Under the terms of the agreement the property has to be run as a community theatre for 21 years before Nottingham Arts Theatre owns it. If the condition is not met then the property has to be sold back to the Co-operative Society for the purchase price.
15 Stock
| 15 Stock | ||
|---|---|---|
| Stocks 16 Debtors Trade debtors Prepayments VAT recoverable Other debtors |
2020 £ 1,511 2020 £ 558 1,050 611 4,993 7,212 |
2019 £ 990 |
| 2019 £ 1,095 1,535 814 1,614 |
||
| 5,058 |
Page 15
The Nottingham Arts Theatre Limited
Notes to the Financial Statements for the Year Ended 31 July 2020
17 Cash and cash equivalents
| Cash on hand Cash at bank |
2020 £ 912 75,340 76,252 |
2019 £ 532 34,254 |
|---|---|---|
| 34,786 |
18 Creditors: amounts falling due within one year
| Trade creditors Other taxation and social security Other creditors Deferred income |
2020 £ 5,408 166 49,366 - 54,940 |
2019 £ 14,014 291 23,026 738 |
|---|---|---|
| 38,069 |
19 Funds
| 19 Funds | |||||
|---|---|---|---|---|---|
| Unrestricted funds General General fund Designated Roof repair fund Fixed asset fund Total Unrestricted funds Restricted funds Summer Schools 2020 Summer Schools 2019 Youth Project Total restricted funds Total funds |
Balance at 1 August 2019 £ 254,970 - - - 254,970 - 5,021 7,351 12,372 267,342 |
Incoming resources £ 145,555 - - - 145,555 3,000 - 9,820 12,820 158,375 |
Resources expended £ (116,341) - - - (116,341) - (7,056) (9,420) (16,476) (132,817) |
Transfers £ (276,290) 10,000 264,255 274,255 (2,035) - 2,035 - 2,035 - |
Balance at 31 July 2020 £ 7,894 10,000 264,255 |
| 274,255 | |||||
| 282,149 | |||||
| 3,000 - 7,751 |
|||||
| 10,751 | |||||
| 292,900 |
Page 16
The Nottingham Arts Theatre Limited
Notes to the Financial Statements for the Year Ended 31 July 2020
| Unrestricted funds General General fund Restricted funds Summer Schools 2019 Youth Project Total restricted funds Total funds |
Balance at 1 August 2018 £ 247,387 - - - 247,387 |
Incoming resources £ 162,816 7,500 9,963 17,463 180,279 |
Resources expended £ (155,233) (2,479) (2,612) (5,091) (160,324) |
Balance at 31 July 2019 £ 254,970 5,021 7,351 |
|---|---|---|---|---|
| 12,372 | ||||
| 267,342 |
The specific purposes for which the funds are to be applied are as follows:
Summer Schools 2019 and 2020 - funding received from various funders to enable three weeks of Summer School for children;
Youth Project - funding received from Awards for All to continue to run the youth theatre group.
The transfer from the General fund to the Summer Schools 2019 fund is for activities undertaken as part of this project.
The transfer from the General fund to the Roof repair fund and Fixed asset fund are to designate funds for essential roof repairs and building improvements.
20 Analysis of net assets between funds
| Tangible fixed assets Current assets Current liabilities Total net assets Tangible fixed assets Current assets Current liabilities Total net assets |
Unrestricted funds General £ 262,865 74,224 (54,940) 282,149 Unrestricted funds General £ 264,577 28,462 (38,069) 254,970 |
Restricted funds £ - 10,751 - 10,751 Restricted funds £ - 12,372 - 12,372 |
2020 Total funds £ 262,865 84,975 (54,940) |
|---|---|---|---|
| 292,900 | |||
| 2019 Total funds £ 264,577 40,834 (38,069) |
|||
| 267,342 |
Page 17
The Nottingham Arts Theatre Limited
Notes to the Financial Statements for the Year Ended 31 July 2020
21 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 £10 towards the assets of the charity in the event of liquidation.
22 Related party transactions
There were no related party transactions in the year.
Page 18