REGlS"fERED COIIPANY NUMBER: 04?66321 (England and W21es) REC.ISTF,RED CH.4RITY NUNIBER: 1089301 ort of the Trustees and Financial Statements for the Year Ended 31 December ?023 for Niimber 8 A'oodS PetTott House 17 Bridue Streei Pershore WorLestershire WRIO IAJ
Number 8 Contents of the Fin2llcial St'itements for the Year Ended 31 Deeembcr 2023 ChairTnans Report Report of the Truslees Independent Examiner's Report Statement of Financial Aetitrlties B818nce Sheet 10 Cash Flow Statement Notes to the C25h Floi? Statement 12 Notes to the Financial Statements 13 to 20 Detailed Statement of Financial Activities ?] to ?2
Tr4umber 8 Chairmans Re rt for the I'car Ended 31 Dcccmber 2023 I receiitli, sent a message to our staff and volunteers that Number 8 is, ::headino in the riohi direction" The Financial ReN'ieii' reports on the 20?3 full-) ear performance, Ii'hich I am pleased to sa), on behalf of the Executiv'e 15 an excellent resulr, This contimis the vie1 that, despite continued chalIen(Fes faced bi, the industry., Ike are perform ino very: Ii'ell. The result - ahead of both bud(yet and the previous Jear's performance - w'as achie"ed bi, the hard Iv"ork aild cojiiniitnients of our 'ollint¢ers and staff. Tli¢ E,iecutive and th¢ Board believ'e Ni'e hai'e the rioht business niodel at Nurtiber 8 INhioh has seen lis pro(Tresb successfully throuoh the dark dai's of the pandemic to the present da!. On behalf of Ihe Board of Trustees I thank ekeTrone associated i%ith Number 8 in achieN'incF a successt.ul 202i. Tonv Roi*'lei' Chair olTrustees
Number 8 ort of the Trustees for the Year Ertded 31 December ?0?3 The Trustees, ,0 ale also the Directors of the Lharitr. for the purposes of the Comp<1nies Act: are pleased 10 present their annuaI report IOOLther ith the t-Lnancial statements of the charity for the }'ear ended 3 1st December 20?" OBJECTIVES A.ND STRATEGIF.S The objectives of the chatitrj. are; To advance Ihe education of Ihe public in all aspects of dramaiic an and film incllldino the arts of dram4 mime. opera: music: SUlLiin¥: ditnce, paintin? andpholotrraphv. The developtnent of public appreciation of such art b}, Ihe proNisiOlI Ot an arts centre and gallery and the presentation of public performances. To tunher Ihe social and culturaI Ii'elfare of Pershore and Its hinteilaiid and visitors to the area. The charity has a LTentral aim of coniributints to the quality of life of the people of Pershore and widei aiea b}, e.Kpandintr the ir horizon) throuiTrh Ihe provision of eiciiinTr challenoincF and accessible communitN: arts e)J'cnts. The straieoies emploj'ed to aLhieve the charity s objectives are to- Olfer opportunities for a broad ran(se ot people to participate in ans actiN'itv and explore their oivn creaiive poii.'ers. Provide facilities for amateur and professional artists to develop. Pershore Operatic and Dramatic SocietN' are Ihe resident amatLur tompany" and use spaces for rehearsal and performance. Concentrate on involi'ints N"Oun(Y people the arts throu h participatory activiti¢s such as w'orkshops and eihibition projecis to help encouraut a culture in i&'hich different aoe ranoes pla!I' a complementaTr' part. Celebrate the diversity, of culiures in our soctets, b>. prourammino presentations by and work from artists of di fferent cuItural back-grounds. Present a broad ranL7e of arts i¥ork. The main areas of activity, are: sta(Je perfomances and concerts, film SCreeniniJs, event cinema screen inos, educa(ional proorammes and art exhibitions. I"he pro£ramme aims to achieve a mix of the arts to suit a rartCTe of iastes and incomes exhibiiion space features reoular display's OF Ii'ork b), artists boih amateur aiid prof-essional. Whilst tliis actii'ity, prodiJces the leasi income it 1% of equal importance in the life of Number 8 and contributes 10 the atnbience of oiir foyer coffee bar and boi office. These exhibitions enable local people and visitors to the toii'n to see a varietv of Vfvork Ivhich thej, mav noi oiherwise choose to see at nallLries. Four glass display cabinets alloiv the e,Khibition of .)[) crafts. Number 8 is heavily i"01ed in the commllnit).. Oiir letter headino captures the spirit of NuTnbeF 8 "inspired and led bi, the peopIe ol- Pershore" Number 8 has approiimatelv ?00 w"olunteers li.ho assist in the runnino of NuTnber 8. st¢'ardIn(l events. operatino Ihe box office: charitN' shop, coffee shop and bar and pro.jectino films. This enables Number 8 10 operart effectivelN' ensurino Ihai Number 8 is a financiall). viable enterprise. Nutnber 8 runs a FrictLds of Nurnber 8 scheme throu(ph Ii'hich people can Slipport Ihe chariiv. There Ii'ere 31 l Friend5 of Number 8 at the end of 20?3, STIIATEGIC REPORT AehieN ements 2nd Perforinance Charrtahle ALtIL:IIIL?S DuFints ?()2i Nurnber 8 held ?0 live ei'ents: i l eveni cinema screeninos, ?47 film icreeiiinos, l) perforniances of 2 diflereiit shoiis produLtd bN' our resideiit LompanN' Pershore Operatic and Dramaiic SocietN', and 19 iicketed perfottnanccs oiuanised b) hirers. Total ticketed atteiidanLes to 5creeniiios, event Linema, and audiiorium Iive events were ?6:437. At the close of ?O?J attendance for lickeied live events and participatory, activities had recovered to be en par with pre-covid pandem ic lei'els, bul attendance5 for event cinema and film screeninus ere still sionificantl} loi*"er (han pr¢-patLdemic levels. Number 8 also plaN'ed hosi 10 13 un-iicketed Lvent.s ortianised by external hirers, 11,'ith attendances ot, OVLr 2000. Paoe ?
umber 8
ort of thc Trustees
for the l-e2r F.nded 31 Decetnber 2023
In addition to the main auditoriutn activities, the int-om]al perf0tla1}ce space Ii'iihin The Foyer providcd local
musicians 2nd perfonneTS Miih a place to pert-orm, providino an idcal serrin(F foi smaller scale evenis such a%
perfotmances bj, local acts. Ten difterent iicketed evcnts, includinu a series of Fo)'er Folk niohts and a concert by
Worcester Guitar Quanet Ii'ere held in The Foj'er li.ith attendances of 580. The space Il'as also used to hold a variety of
un-tick-eted free activilies and eN'enis such as Readers, Group tneettnos, eithibition previe5, Lanoualie Cafes, monthly
.5 of local art. photOlFraphs' and lanouage
Sip & Sketch afiLrnoon5, and Sino Alon(TS plus a number of infOal meetin(J
groups, ctc.
umber 8's auditorium pro(Framnie in ?O?i included a 11-ide variety of live events: J8 different event cinema titles and
117 dit'(cr¢nt fiLnis. Live eN'entS included cla.ssical concerts from Orchestra of the SIN'an, plus conLerts fro
GreenNfattheNN's, T'enor5 Unlimited: and Treorchj. Ivlale Chotr, and tribute shoivs The RorLnie Scott's SioTr'. Celebraiin
the Pwlusic of Fleeli¥ood Mac and Hello Auiiin... A Tribute to Neil Diamond. Liwe theatre included Divorced, Beheaded,
Died: .4n Audience Ivith Heiiry, VIll and Discoverin? Antarctica. illustrated t£ilks,IshoNh"s .4 Year of Birdsono & Bird
Sonos and Watch This Space and children"s theatre productions Èncludin(F Sarah & Duck's Bio Top Birthda), and Sea
l.eLTS Puppet Theatre's The Ugly Ducklino
Number g's resident amateLLr compan}. Pershore Operatic and Dramalic Society (PODS) held their twice Ii'eekly
Tehearsals at Number 8 throuohout the vear and made use of Ihe technical faLililies, Ivardrobe space, equipment and
J IheN' Put on 13 perfom]dnLes Ivjth 6 dav runs of their productions of Guvs
Box Office seTr'ices for their 5hoK s. In ?0?"
& Dolls and PODS C15[ma5 Spectacular.
Numbe r 8 continued to beam in evcnt cinema throiiJout ?0?3 w'ith a procTramme of 38 different titles includin(y Iworld
class ballet, opera and theatre via satellite Nk'ith sea.sons from the National Theatre, Ros'al Ballet and Ro}:al Opera. The
event cinema proarnme also included concerts such as Brian & Rooer Eno Live at the Acropolis, Andre Rieu's 20?3
Maastrichl Concert: Love is All Around and the Berliner Phitharmonik"er's NeH' Year s Eve Concert, plus the
F.xhibition on Screen serÈe5 explorin(y the i%'ork ot t-amous artists.
The centre also plai'ed host to a number ot events or(sanised bj, e.xtemal hirers includino the sold out concert Tovah
Robert's Sundaj, Lunch Live! Pershoie Jazz on a Summers Dai,, d Loncert frorn 11-orcester Philharn]onic Orchesira: an
iLlustralL'd talk from pliotour2pher Jack Boskett oroanised by Rotari. Club of Pershore, brass b(Ind concerts trotEI
Floi¥ers Band, and Persliore Floil'er Club-s annual meeiin
Children and iouno people perfortned on sta(se ai Number
8 in Pershore Operatlc Ii nd Dramatic Socier), Youth Section s prodiiction of Chitty Chitty Bang Bano Jnr: in shoivs
from four diftLrent local schools, and local dance schooli. These prodiiciions vae the children and young people
the opportunit), to experience performinLTr in a professional theatre en'IronMellt vvith the use of Number 8:$ tecllnical
faciliues and support. Communitv hirer5, school groups, and renisiered chariiies all benefjted from discounted hire
rates.
The ?O?i filni pro(Framn]t I,a5 diN'erse Ii'ith scrcenin?s of criticalls. acclaimed titles kncludinu TAR: The Banshees of
tnisherin, Oppenheimer, KillLfs of the Floil'er Nllion and The Fab¢lmans, classics includino F-IolKdaJ' Inn, The Aoe of
InnocenLe: Roman HolidaN: and as part of our Ma(y(Tie Smith season, The Prime of Miss Jean Brodie, Gosford Park, and
Quartet.
Foreion lan(Tuaoe titles w'ere a re(Fular feature of the pronramrne 1l.itli screeninLYS includincy arrionnst mV others
Liiiiana: A Yak in Elle Classroom, L'immLllslta: EO and Saint Omer. A special screeninu of the documentary, tLlm In the
Court of the Crimson IKino Ivas folloiwed b!, a Q&,1 on sta(ye Ik"ith the tilm s director Tob), Amies and producer David
Sin:leton.
Filnis for children and famili, auditnces IierL screened duiintr school holidaps including such titles as Spider-man:
Across the Spider-Ver5e, Il'ish: and Wonka 11 ith discounied tickti prices for selecied icreeninos 10 make thetn more
acL¢SSible t.or families. Schoul ?roups and honie educaiof5 had the oppoituriit), to attetkJ free screenings as part of the
Into Film Festil'al: durin
Number 8 Rt Ort of the Trustees for the Year Ended 31 December 2023 Number 8's proLTramme of creative courses and Ii'orkshops continued to thrive in ?0?3 w'ith attendances for the }'ear of circa 4800. Courses included seven Ikeekls, Chance to Dance classes for those age %)" and Gentle ChanLe to Dance, a class for those IN'ith Iono term conditions, iho are rehabilitatinu or have a disability that unpaLts on their mobility,. In addiiion 10 re¢Jular classes: one-off themed Chance to Dance IN'orkshops such as Festive Chance to Dance and Sprin tytime on Broadiiai, were held outside of temi time. Other creative Ii'oikshops took place throuohout Ihe year Ii'ith si.x Pop lJp PaintiniT Ii'orkshops for adults thctncd around differeni artists from _NIoneL Lo Bansk}', and a NlaiiIda Dance Workshop for children. 20?3 sa, the introduction of monthlk. Lanouatie Cafes in The Fover spac¢ prior to selected foreion lantruaue screenings 'iih attendances of over 600. The introduction of Languatse Cafes £ai'¢ people the opportunifj, to practice theit Ianuuatse skills and helped to tncrease audiences for foieign language fihIis. Monthl}, Sip & Sketch afternoons eave people the OppOrtLity to try Iheir hand at Sk"erchl? and Number 8's Reader s Group met on a monthlTr' basis. The celltre Also plaj.ed host to ieuular UJA taLks and a variety of arts and leisure classes OraniSed bN' communitv hirets. Fifteen dift-erent communily hirer classes ran Ii'eeLls' dunno term time, includinti ballet classes for children and adults, a youth Iheaire, an adult drama CTroup, and an art class, alono Ii'iEh other monthlj, classes and one-off Ib'orkshop> t[Ou00Ul the ye<lr. Local artlsts and craft people, boih professional and amateur, Ivere given the opportunity, to shoH'case and sell their Ivork in exhibitions displa)'ed in The Foi'er coffee bai exhibition and craft cabinet spaces. lThe ?O?i procJramme featured seventeen oaller), and nine craft ethibitions shoiN:casing Nl'ork in a I"arietv of different mediums and anistic stvles. The pro<Jramme included solo and group exhibitions incIudints those thai brouoht touether the M ork of larue gioup¥ of drtists such as the Pershoie Arts and St. Peter's Printmak¢rs exhibitions. Number 8's ?0?3 Open E.Khibition received a record nutnber of submission5. The exhibition shoii'cased Ivork from 27 dit-t-erent artlsts Ii'ho Iverc al_so oiven the opportuniri to attend a pr¢vieiv event Ii'ith their ?uests to celebrate the openintw of the exhibition. Our 2073 Schools ShoiN"Lase V4"as an exhibition of block printed collapes CTeated b), children froTn five local schools tn priniing l%¢oikshops organised bv Number 8. The }:ounrJ artists, their teachers and parents attended a PreN'ieN' Event at Number 8. Fundrai.f ing A i'¢ii:ilieJ In addiiion lo raiEino ndS throu(yh ticket income, hire chaiges and (yallery, income throutho its charitable activities, Number 8 raises funds in other primaTr areas: Caterin Nlfftilst 20?? Ivas very much a "iecoi'eri }'ear posi-CoN'id, ?0?3 salv a huoLl&' encouraL?ino return to pre-COld lewLls in our Cclterino takin05. 1-he Cot-t-ee Bar especiaIlv had arL eKtrLmels" productiie 'ear, far surpassirior bud(?et forec&sts and expect4ltiDns. Our Bar takinTrs Ii'erL also hiuher than piediLted due to I'eTh' oood attendance levels for li e evenis and the continued positive impact of alloM."ino drinks 10 be tak-en into the Auditorium. CEJdFiLy Shop NumbLr 8:s charit), shop (Just After 8) continues to be a very, useful contributor to the or(yanisation althouoh 202) saw. less .£roiith tlian other areas of the buiuiess. This is in part diie to a drop in qULl1ilN': hi(Th-vaIue donarions (and t-ell'er items Ihat 11 crc li.orth sendino to auction) from the previous vear, a problem faced bj, a £rowin(J number of Shops in the charity. sector That said, its eclectic selection of £oodb and triendlN' atmosphcre continue to dj'al. in many interested cusiomers and it remains a fLrm tixture of Number 8.
Tr4umber 8 ort of the Trustees for the l'ear Ended 31 December 203 Fin8iicig1 revieii, The 2073 financial perfomance IN'as excellent and much better than e.xpeLt¢d. Oi'erall there IN:as a small deficit after depreciation of £(J,068)- This result Il'as £37,970 better than budfret and £?9,406 ahead of thc 20?? out-tum. The sironp financial performance as achieved due to increases in income from Live e.enti, Dioital event screenin(75, Ii'ork-_£hops and the caiering operaiions. Aoainst Ihis film income vN'as loiver than in ?0?2 retlectinti the lack ot" fiin) reIeases due 10 Ihe strikes in the US film industTr' and the underlying chanoes in the film industry, '1th the increase in online sticamcd content reducing consumei demand for the Iradiiional cinema experience. Nurnber 8:s fmancial ooal remains to return to break even: after coveiinu depi-eciation chartres, despite the chaLlenoe from th= onuoin(T lack of film releases i%hich Ivill have an adkerse impact f.or the fust half of 2024 at least. Number 8 has beLn i"ell manaoed fLnanciall}' throuuhoui its e¥istence and iontinues to have substantial cash reberves held to both secure and invest in its future. Inv'e5tpneFTt polio, and objeclives Ani. in¢st[I1¢t Is tnade in accordance Ii'iih Ilie Rules of the charity. and b) Ihe Trustees. The Trustees have a cautious attitudc to risL and do not in'eSt in such a Ii'a&' as could put capiial at risk. HoiieN'er, in the econoniic climaie Ihai ha preN'ailed for the last feiv years this means that rerurns on investment hai,: been Ioiv. R¥sen'g3 poli Ca.%h restrves are held to cover unforLseen operational costs, essential maintenance Cosls: a5SCt rLplacement, and for ndinn neth, projects Or investrnents in nelv technolooies. The cash reserves fi¢yur¢ at 31st DLcember 202) ifr'as £366.9i3 (i I st December ?0?2 £366,964). Fin2nci31 and Risk Manatsetnent ObjectiN'es and Policies The Trusiees FLave a risk tnana(yement straiLg! Ni'hich com.pri.ses: An annual revieii, of Ihe risks the charity, maj, face; The establislunent of s}'stems and procedures 10 tniti(Tate Ihoie risks identified in rhe plan. The implementaiion of procedures desioned 10 niinimise an), potential impact on the Lhttrirn, should those risks tnaterialise. The status of current niitioaiion aL Lions is reported to the Board on a rLioiilar b&sis. Our key operaiioiial risks are as folloil's: Our niost important risk, b! far, continues to be the ak'ailability of siitticient nurnbers of volunteers IN'ith appropriate Skill %ets. On the doll nside, a lack of volunteers i¥ould restrict our abil itv to oltir the seTh'ices IN'e ciirreDtl3' prowide. There is also a ri_%k that 'e are unablL to capitali7e on n eli, oppominities that arise. Dependency" on ke): members ol staff: Ii'ith a tull complement of Slalf the focus Ilas been on developin{Tr neil. staff to improN'e our operatin(F resilience. A) our buildino thcre is an increasino risk of unforeseeD repair and maintenance costs: IN'e haN'e in pIace recrular mainrenanLe schedules and actiN'itTr'. A ke) eleiiient in the mana(Jenieiit of [anLal risk is the settino of the reser'e5 policj. and it% retrular revieiTr by TrLlStees_ Ihe tmst put in the volunteers IN'ho handlc cLsh has been identified an acceptable risk bi the Trusiees. Paoe i
Number 8 Re ort of the Trustees for the I'car Ended 31 December 2023 STRUCTURE, GOIIERNANCE AND fvIANAGEMENT Nutnber 8 is a CompanJ' Limited bN' Guarantee and a Registered Chariry, manacFed b}, a Board of Trnstees, iho meet quarterlN' each year. Regi.stered Companv niiTllber (En(rland & Wales) ReiTiStcred Chariti; niimber Reoistered Office and place of busine55 04?66j21 1089iO I 8 Hi(Jh Street. Pershore, Il'orcs. 'R I O I BG RecruitFnent and appointtn¢nt of neiv Trustees The Chair ot- the Trusiees is elect¢d bk. the Board of Truitees and, consisient W'Lth other Ttee5. reiires after a period of 3 !ear5. Retirin(T Trusiees maw be re-elected Ivith the consent ot the retnaininu Trutees. Durin(T ?02 ) there ere chanoes to the Trustees: ArLne Peebles ~. appoinied I st June ?0?3 Paul Anihonv Osborn - resioned 18th Julv 20?3 At the end of 20?- Nuniber 8 had th irteen Trusiees eaLh of li.hom aoree to contribiite £) in eveni of tlie rharip' Iv indinu Induetion and trainin(J of neil: Trustees New." Trustees undergo an orientation da)" to brief them 011 their leoal oblioations llnder charit). and companN, lalv, the conteni of the N{emordUM and Articles ot Association, the deci5ion-maLin processes. Ehe business plan aiid recent rin<inLial peifomlance of Ihe charity. Durin(s the induction da5, theJ' Ivill tn¢ei k"e}' btatt" members and otLier Trustees. Truiiees are encouraLTed to attend appropriate eiiemal trainin(T e.en[S here Ihese 11:] I I t-ac il iiaie Ihe UndertdkFn of their role. Organisational Structure Erecuttpe The Compan), has an Executii"e Commiiiee Ni:ith deleoaied poiN'ers to rnana(se the d-i} to daj, runnino of the business and financial affair5 of the companN'. The ExecutiN'e is chaired bw the Chair of Trustees and inclLides a m ix of Iru%tees. voluIiieers and 5¢nior paid staff. The E.ieciitive meet5 Inontbli. and Iheir deliberations arL minuted and ai'ailable to Board members. The Execu(ik'e reports in detail to the Board quarterlN'. Siaff Tlie staff teani is appointed by the Board ot frllstees and iotals 7, 3 ot i&hom ar= part-time. The} mana(ie the pro4xrarTTrm ino marketin(7 operational, financial and admittistratile aciivities of Number 8. ThLI' are supported bj volunteers. Dunno ?O?J, there IN'ere approyimatel). ??0 volunieers, operating Ii'itliin evcry area of Numbcr 8-5 activities. Volunteer Manatr5 of the boi office, bar, coffee bar: front of house and charits. shop meet monthl}, to diiCUSS the dal, to day n=eds, SULToe5tion5 and problerns of these departments. The recommendcltions trom Ihii manauetnent team are tlien considered b!, Ihe E.Kecutive and irn plemented as appropriatL.
Nuinber 8 ort of the Trustees For the Year Ended 31 December ?0?3 REFERE,YCE AD4D ADIMINI.STRATIITE DETAILS Trustee5 M A Rowley C J Tooth J Daniels E Hone)'bunn A Peebles K Goddard MB E Executive Director- Chair Execiitive Direcior- Finance ExeCutie Dircctor- Arts Executive Director- Education Liaiso Fxecuiive Director Execuliwc DireLtor I ATnies S IM Booth M J HodrTes R Partridoe M Paii'sey K Walion M Il'ard WvLha&on District Counc il rLpiesentdtive Independent exarniner Ami'oods: Perrott House, 17 Bridtsestreet Pershore Il'orcestershire I¥RIO I AJ Approved b}, order of the Board of Trustees on . SioTrned on behalf of rhe Board bv: Ill A RoiTr-IeN"_ Cliair of Trustees
Number 8 Inde endent eiaTniner's re ort to the Trustees of Num ber 8 Independent examiner's report to the trustees of Number 8 ('the Compxn)-') report to the charitN' trustees on mi, e.xamination of Ihe accounts of the Compan}. for the year ended 31 Decetnber 20?3. Re%ponsibilities aud basi5 of report As the charit) s trusiees of Ilie Company (and also its directors for the purposes of compai)N' laii,) s'ou are responsible for the preparaiion ol the accounts in accordance iyith the requirements of the Companies Act ?006 ('the 2006 Act,). Ha]nO sat15fied myself that the accounts of Ihe Compan). are not required to bc audited under Part l6 of the ?006 Act and are eI iCFibl¢ for independeni ¢xaminaiion, I report in respect of mi. examination of your charity s accounts as Caled out under Seciion 14) of Ihe Charitie5 Act ?0 I l ('the ?01 l Aci,). In carryin(J out tn), e,Kaminaiion I hafv'e folloNved Ihe Directions LTriven bN' the Charifl Commission under Seltion 14i(i) (b) of the 201 I Aci. IndependeT]t e¥3miner's statement Since your charitrv's Trfois income e.XCLLded £250,000 your examiner must be a member of a listed bod},. I can confirm thai l am qualified to undertake the examination because I am a registered member of ACCA w'hich is one of Ihe listed bodies_ I have completed my e.iamination. I confirm that no matters have corne to m}, attention in connectlon Ii'ith the examinaiion givinltr me cause lo believe: accountin(F records Ii'ere not k-ept in respect of Ihe Compan} as required by Section J86 of the ?{)06 Act. or tl)e accounLs do not accord ith those records; or IFie acLount5 do not complv i%ith the accountin requiretricnls of Section 396 of Ihe ?006 Aci oiher than any I:quiretnent Ihat tht accoLints ?ive a true and fair Tr"ieii" 11.hich is not a matter considered as pan ot" an independent eyamination. or the accounTS have not been prepared in accordance Il'ith the metliods and principles of the Statement of Recommended Practice for accounting and r¢portincr b). charities (applicable to charities preparino thcir accounis in accordance 11 ith the Financial Reportin(Tr Siandard applicable in Ihe UK and Republic of Ireland (FRS I O?)). I have no concems and have come across no other Inatteis in CO[etti0 ith the e.xamination to 11."hich attention shou Id be draifv'n in this report in order to enabl¢ a proper understandino of the accounts to be reached. Luc) Waikins ACCA Attlioods Perrott Housc 17 Bridue Street PLT5hore Worcesiershire WRIO IAJ Date:
Number 8 Statement of Financial ActiN"ities for the Year F.nded 31 December 2023 31.1? 23 Total fullds J].12.2? Toial funds Unrestricted fuiids Restrict¢d fiLnd Notes INCOTrTF. AND ENDOIVMENTS FRONI Donations and legacies 18,378 18J78 ]9,js9 Other tradino aciivities Investinent incotne 524, 109 10,9)3 5?4,709 10,93 4?8,9-10 Total ii4,040 jy4,040 40.8) I F.XPE.NDITURE ON Raising funds ?i7,108 ii7,108 483,i2i L ET INCOMEI(F.XPENDITURE) (3,068) (3,068) (i2_474) RECONCTLIATION OF FLTNDS Total funds brouLTht forKN'ard 2,0>2,360 2,Oi9,360 2,084,83) TOTAL FUNDS CARRIED FORWARD 2,049,29? ?,049,292 ?,Oi2.359 The noies fomi part of these tinancial stat=ments
Number 8 BalaDc¢ She¢t 31 December 2023 31.12.23 Total funds il.12.22 Total nds Unrestricted funds Restricttd fund Notes FIXED ASSETS Tanoible assets 1,687,522 ,687,i22 t.7i3,645 CURRENT ASSETS Stocks Debiors Cash at bank and in hand 12 13 iJ30 5,330 20,878 4?6,9)3 i.008 15,20? 426,964 426,9)3 4)3,101 43,161 447,174 CREDITORS Atnoun15 fallinti due ithin one )iear 14 (91,391) (91 J91) {128:460) NET CURRENT ASSETS 361,770 361,770 318,714 TOTAL ASSET.S LESS CURREPIT LIABILITIES 2,049,292 ?,049,29? 2,0)? 3 j9 NET ASSETS 2,049292 2,049,29? ? Oi),359 FUNDS 15 Unrestricred funds 2,049,29? ? Oi?,3j9 TOTAL FIJNDS 7,049 ?92 Th= charitable corTipanJ' is entitled to exLmption from audit under Section 4 17 of Ihe Companies Act ?006 for the J'ear ended 31 December 20?3. The members have noi required Ihe comp<illN' 10 obtain an audit of lis fmancial statements for the N'ear ended 31 December 20?3 in accordiL nce w.ith %ection 476 of the Compaiiies ALI 2006. The trustees acknoii:ledoe Iheir responsibilitlcs for (a) ensurints that the charitabl¢ compan)" keeps accountino records that coniplN; IN'lth Sections J86 and J87 of the Companies Act 2006 and preparino financial statements w'hich give a twe and fair k'ieiN' of the state of aft'airs of thl charitabIe cotnpani as at the end of eacli fancial ):ear and of its surplus or deficii for each financial in accordanc¢ IN"ith the requirertientg of Sections 39J and 39) and 11,hich other¥'15e compl). 11."ith tlie requireniellts of Ihe Companies Act ?006 relatinu to financial statements, so t-ar as applicable to tlie charitable companv. (b} The t-all¢la1 starLmLnis were approN'ed bN the Board of TrLlStees and authorised for isslle on '.4*.. and Iiere sianed on its behalf b).: IVI A ROle1, _ Trusiee CJTO Stee The notes form part of these financial statenienis Paoe 10 continuLd...
r4umber 8 Cash Floiv Statement for the Tr'ear E.niled 31 Deccinber ?0?3 31.12.23 31.12.22 Notes Cash flow's from operatino actii'ities Cash iJenerated from operations 7,184) Net cash {used in), prow ided b>, operatin(F acriv itie 7,184) 8),330 Cash noi?s from investiniF activities Purchase of tanoible fixed assets Sale of ttthuible red assets terest ieceived (4,410) 630 10,9)3 (i4,2Ji) 2_)52 Tr4et cash providcd b) (used in) investino aciivities 7,173 (il,881) Chgngt jTI C25h and cash equiTr'alents in the reporÉing period Cash and cash equivalents at the beoiuniD(J of the reportin(F period (11) 3i,449 426,964 39i,5 li Casli aiid cash equii'alents al the end or the reporting period 4?6,933 416,964 The notes tortn part of these fin&ncial slaiemenis Paue 11
Number 8 Notes to the Cash Flom. Statement for Ilie l-ear Ended 31 Deceinber 2023 RECOINCILI.4TION OF NET EXPFNDITL-RE TO NET CASH FLOW FROM OPER.4TIN ACTIVITIES 3].1?.23 31.12.22 Net eypenditure for the reportintr ¥ period (2.5 per the Stateent of Financial Activities) Adjustments for: Depreciation charges Loss on disposal of fixed asseti Interest received Increase in stocks Increase in debtors (DeLrease):'increase in creditors (3,068) (J2,474} 49,9 41,9)4 1,660 (?,3)2) (1,9?8) (191) 78.661 (10,9i3) (3?2) (5,676) 37,070) Net cash (used in)/provided bi, operations (7,184) 8i,3iO AN_4LYSIS OF CHANGES IN ET FUNDS Cash floi¥' At 31.12.23 Net cash Cash at bank and in hand 4?6,964 (11) 4?6,9j3 4*6,964 li) 426,9)3 Total 4?6,964 (11 4?6,9)3 The notes form part of these tinancial siaiements Paue 12
Number 8 Notes to the Financi21 Statements for the Year Ended "41 December 20?3 ACCOUNT['G POLICIES Basis of preparing the financAdl slatement5 The financial statemertts of the charitable compan),, Ivhich is a public benefit entitN' under FRS 102, have b¢¢n prepared in accordance 11.ith the C harities SOIIP (F"RS I O?) 'Accountintr and Reportincy b), Charities: Statemeni of Recommended Practice applicable to charities preparincT their accounts in aCCOrdttnCè iTrith the Financial Reportino Standard applicable in the UK and Republic of Irelaiid (FRS 10?) (eftective l Januati: 2019),: Financial Reporttng Standard l O? 'The Financial ReportinrT Standard appIic2ble in Ihe LJK and Republic of Ircland, and the CoTnpanies Act 2006. The fuianciaI statetnents have been prepared under IFie histoiical cost conveiition. Income Al l incotne is recogni5Ld in the StatemnI ot" Financial AciiviiiLS once the Charity has entiilemeni to the fund5, it is probable that the income Ii'ill be received and the amount can be measured reEiably. -411 income { includino voluntary" donations) is allocated io the £eiieial fund unless othe7V.ise re5tt"icted b! donor or specifically desicTnated b), the I"rustees. Restricted ndS arc Funds Nvhich the donor specificallN: restricied Ihe purposL for %N'hich they: can be used. The artiouni in Ihese rtd5 represents the monies still available for fUtie e.xpenditure. Desi(Jnated funds are funds Ihat Ihe Trusiees ha"e specificalli, desi?nated tlie purpose for Iihich theTrw' can be applied. The amount in these funds represents the monies still ai'ailable for ttIre expenditure. General funds are Lxpendable 21 the discretion ot" the Truiiees in furtheTance of the objects of the charity,. Expenditure Liabililies arL fcLuLTniscd a5 expenditure as soon as thcie is a le(Fal or constructiie obljoation commitiincT the Charity cliariti, to tliat eipeiiditure, it is probable that a transfer ot- eLononiic benefits Ivill be required in settlement and Ihe amounr of the oblioation can be measured ieliablN'. EKpenditure is accounted for on an accruals basis and has been classi fitd under headimos that aotrreoate all cost related to the caie(yor)'. Where costs cannot be direcily aitributed to particular headin(55 thev have been allocated to aciiN'ilies on a basis con51Stent Ii'ith the use of resources. Costs of (Tellerating funds ar¢ the costs direcily atiribuiiible to raisin(F tunds. The income from fiindraisiniy 'entUreS is shoivm tyross, Ii'ith Ihkn associated costs incliided Ni'ithin ndraisin1 cost5. Charitab le eipenditLire incIudeb all costs dtrecilj, relatin(w to IhL objeciiN'e of the charity, and The costs ini'oIved in Supptsrtinc7 that Ii'ork, Nlanaoernent and administration costs inLlude those costs Connected li.ith manLoement of the ch(Ilit} s asseis, oroan isational manaoem=ni and adm inistration and compliance Ii'ith constitutional and stattitory, requirements. Expenditure on tnanauement and administraIion of the charit! includes all expenditure not directl), related to Ihe claritable aciiviTh' ot- tundraisino N"enrures. This also includes IeiJaI, indL>pendent examinaiion tees and cerlain trust secretarial e.xpenses. Tangible filed a55ets Depreciaiion is provided at Ihe folloilino annual rates in order 10 INritL OtT each a_sset 0,er lis estimated usLfiil life. Lono iertn fixThres Refurbisliiiients Leasehold impiovemcnts Diuital.'sound & ot-tice equipmenr Furnirure & fLirures SiraicTht line oi'er 2) l'ears StraiTrlit line over l i J'ears o on cost 200/0 On Cost ? j°iO on reducino balance and (It vaTr iniy rates on cost Paoe 13 continued...
Number 8 Notes to the &'inancial Statements - continued for the Year Ended 31 Dccetnber 20?3 ACcOU"TING POLICIES - continued Stocks Stocks are valued at Ihe loiNer of cost and net real isable value, after mak-ina due allo¥trance for obsoltte and sloii. moving itcms. Taxatio The charity. is exempt froni corpotation tax on its charitable activities. Fund accoiinttng Unrestrictcd funds can be used in accordance w'iih thL charitable objectives at the discretion of the trustees. Restricted ftinds can onl. bL used for particular restriLied purpos=s IN'ithin Ihe objects of the charity.. R¢striciions arise when specified b), the donor or Ii'hen funds are raised for particuIar restricted purposes. Further explanation of the nature and purpose of each fund is in¢ludLd in the notes to the financial statemcnts. Pension eosts and other Post-retirement benefits The Charity, charitabIe compan! operates a defined Contribution pension scheme. Contributions paN'able 10 the Charity s 'pension scheme are charoed to Ihe Statement of Financial Activities in the period to Ii'hich thei. relate. Grants receii'ed Grants received are included in incomin(v resources Ii'hen thei. are reCeied. Donation5 Donations received are tncluded in incominfj resources Ii'hen the5, aTe receiN"ed. DON.4TIONS AND LEG.4CIES 31.12.23 31.1? ?2 Donations Grant.% 18,318 00 Ii.i59 4,000 18,378 19,)59 Jrants receiw-ed. incliided in the above, are as foIloiTr's- 31.12.23 31.1?.2? Wvchavon District CouTiciI Inner NlTheel 4,000 60 60 4.000 Pit(Fe 14 coiiiinued.--
Number 8 Notes to the Fin2nciaI Statements - continued for the Year Ended 31 Deceinber 7023 OTHER TRADING ACTl.1T1Es 31.1? 23 Jl.l?.22 Charity shop iiieome Sponsorships Caterin FILMS, box office & live eveni Space htre Film,.tbrochure advertisino Exhibition hire and cotntnission Workshops Merchandisints and Noucher sale Online bookincv tees 33,448 700 119,970 211,418 1) 191 2)?,61? 30,991 4,368 3.157 ?1,764 2,419 6,773 3,789 2),699 6,44) 7,87) i24,709 4?8.940 INVESTTrIEN'f lNCOTrIE 31.17.23 Deposit account interest 10,93 2.ii2 EL4ISING FUNDS Other trading 2Cti&'ilies 31.1? ?3 3r.i?12 Open in LT Stock Pllrcha5es Closin2 srock Catering ctjariti. shop expenses Support costs 5,008 16i,8?4 (i,330) i,OSO 140,081 (3,008) 46,2ll 14,9)9 3?0,391 ?8).709 ii7.108 SUPPORT COSTS Ianduem=nt Finance Tcitals Other tradino ailii ities 31i,i84 4.807 3?0,391 Paue li continued..-
Number 8 Notes to the Financial Statem ents - continued for the Year Ended 31 Deceniber 20?3 NET ENCOMEI(EXPENDITURE) Nct income..,'(expenditure) is stated after chargina,:(crediting)= 31.12.?3 )1.12.2? Depreciation - oii'ned asset Deficit on disposal of fi.led assets 49,903 1.660 TRUSTEES, REMUNERATION AND BENEFITS There Ivere no trusiees. remuneration or other benetits for IhL year ended ) l December 20?J nor for the Jear ended 31 December 20?? Tru5tees' expense5 There il'ere no Irustees, e,Kpenses paid tor Ihe Jear endcd il December?0?3 nor for the j.ear ended 31 Deceniber 2022. STAFF COSTS 31.12.23 Jl.l?.27 "a(wes and salaries Social securiti: costs Other pension costs 160.i09 8,47? l j2,99? 7,967 172,l8? 16),8? ] The awerarJe monihl). nutnber of ¢P[0),ees durin() the j'ear li'as folloNYs: 31.1? ?3 j].12 ?2 rNo emplo%ees receii.ed emolliments in e.xcess of£60,000. CO.MPAR4TIVES FOR THE STATEMENT OF FIN.4NCIAL .ACTIVITIES UnresiriLted funds Restricied fulld Total fund INCOIVIE AND ENDOWlklENTS FROLVI Donations and legacies 19,i59 19,ii9 Other tradino actii'ities Investment income 4?8,9JO 4?8,940 2,3)2 Tot21 4.50.8il 4iO.8i I F.XPF.NDITURE 0, RaisinLTr funds 483.?2) ,%4ET INCONIEI(EXPENDITURE) ()2:474) Pa(Fe 16 continued...
Number 8 Notes to the Financial Statements - c.ontiniied for the Year Ended 31 Dccember ?0•3 10. COM.PAILITIVES FOR THE STATllkIENT OF FlINANCI.AL ACTIVITIES- continued Unrestricted Restricted funds nd Total funds RECOP4CILI_4T10Tr4 OF FL'NDS Toial fLinds broLLJiJ t forward 2.08/1,833 ?,084,8)J TOTAL FUNDS CARRIED FORWARD ,Oi? 359 ?.Oi2,359 Ji, TANGIBLE FI.XED ASSETS Lono term ti.xtures Leasehold Refurbishments improvements COST At l January ?0?" Additions Disposals 27,)70 108,307 1,9117,233 At 31 Deceinber 20?3 108J07 ,907,233 DEPRECIATIOLN At l JanuaTr' ?02J Char(Fe for year 4,411 1,103 343,628 3).340 7,220 At J l December ?0?" 49,884 378,968 NET BOOK VALUE Ai i l Decetnber 20?" 8,473 1,??8.26j At i l December ?022 ?3,1)9 6i.6.13 1563,603 & oftice equipnient Furniture & fixtures Totals COST Ai l Januarv 20?" Additions Disposals 100,674 3,460 (630) 171,870 2,31 j,6)4 4,410 630) At J l December ?O?- 103,304 17?,8?0 2J19,434 DEPRECIATIOfi At l Januarv ?0?3 Charge for YLar 43,4iO 147,8)6 6,?40 87,009 49,903 At i l Decetnber ?O?j 1?4,096 631,912 NET BOOK N'ALUE At i l December ?O?j 60,Oi4 18,724 1,687,5?7 At i l December 20?? j7,??4 ?4,014 1.733 64) Page 17 continued.-.
Number 8 Notes to the Financial Statements - continiied for thc l'ear Ended 31 December 20?3 12. STOCKS 31.12.23 31.12.2? Stocks 5,330 i,008 13. DEBTORS: ANIOUNTS FALLING DUE WITHIN ONE YEAR 31.l2.23 j1.12,?2 Trade debiors Accrued income PILpaw'Fnents 5,911 14,967 11,940 20,878 14. CREDITORS: AMOUNTS FALLIENG DUE WITHIN ONE YE,4R 31.12.23 J[.12.2? Trade creditors VAT OthLf credi tors Eiieni hire holdino account Gallery'craft holdinu account DelerTed incoiiie Accrued e.¥penses ?0,316 10,123 10,884 1,493 137 33,699 14,739 66.866 8?3 1,40? 24,816 li,200 91 J91 1 ?8,460 MOVELWIENT IN FUNDS Net muijement ui furids Ai Unrestricted fun d5 General fund ?,0*7,360 (3,068) ?,049,29? TOI AL FUNDS 2,Oi?.360 (3,068) 2,049,292 Net movement in fuiids. included in the above are as folIoiN"s: Illcomin resouiLéS Resolirces expended Moiement iJ] Mnd Unrestricted fijnds GeneraI fuiid 5Th4,040 (ii7,108) (3,068) TOTAL FUNDS ii4,040 (ij7,108) 3,068) Paue 18 continued..-
Nuinber 8 Notes to the Financial Statements - continued for thc Year Ended 31 December 20?.3 15. IOVF.MENT IN FUNDS- coiitlnued Comparatil'es for movement in funds Net moement in fund At jl.12.2? èl[ 1.1 ?? Unrestricted Ciind5 Getleral fund ?,084,833 (32.474) ?,05?.3 j9 TOTAL FUNDS ? 084.8)) (3?:474) 2.Oi2,3i9 Comparative net movement in funds, included in the above are as tolloiis: Incomin resource Resources expended -Moveinent in funds Unrestricted funds General fund 4iO,8i I (48i,3?i) (i? 474) TOTAL FLTNDS 4iO,8i I (48J,)?i) (32,474) A current year 12 months and prior year l ? months combined Posilion is as folloii-s= Net movement in fund5 At 31_1?_?j At 1.1 ?? LTn restricted fun ds Genra1 Fiind 2.084.833 (3i:54?) ?,049.291 TOTAL FUIYDS ?,084,8)J (i < 54?) 9,049.?91 A Current )'e1L r l# monihs and prior ):ear l ? months combincd net moi;ement in funds. included in the above are a5 folloiN's= Incomino resources ResourLe5 Lipended Movemcnt in tund.s Unrestricted funds General tund 1.004.891 (1.040:4J3) (J5,i4)) TOTAL FuD5 1,004,891 (1:()40:4iJ ) () j.54?) Paue 19 conlinued...
Number 8 Notes to the Financial Statements - continued for the l'ear Ended 31 Decembcr 2023 16. RELATED PARTY DISCLOSURES There Ivere no related party transactions t'or Ilie )'ear ended 3 1 December 20?" Patsi 20