Registered number: 04310613
Charity number: 1090394
SHERINGHAM LirrLE THEATRE SOCIETY
(A company limlted by guarantee)
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

SHERINGHAM LITTLE THEATRE SOCIETY
(A company Ilmlted by guarantee)
CONTENTS
Page
Reference and admlnlstratlve details of the charity. its Trusteos and advlsers
Trustees, report
Independent examlnerfs report
Consolidated statement of financlal activities
Consolidated balance sheet
Charity balance sheet
Consolldated statement of cash flows
10-11
12
Notes to the flnancial statements
13-32

SHERINGHAM LITTLE THEATRE 80CIETY
(A company limited by guarantee
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2024
TruSt￿S
M Ashcroft
R Batson
J Beak, Chair
A Munden
D Ward
Company registered
number
04310613
Charlty registered
number
1090394
Registered office
2 Station Road
Sheringham
Norfolk
NR26 8RE
Independent examiners Larking Gowen LLP
Chartered Accountants
1st Floor Prospect House
Rouen Road
Norwch
NR1 1RE
Page 1

SHERINGHAM LITTLE THEATRE SOCIETY
(A company limited by guarantee)
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The Trustees present their annual report together wth the financial ststements of the group and the company
for the 1 April 2023 to 31 March 2024. Since the company and the group qualifies as small under section 383,
the strategic report required of medium and large companies under The Companies Act 2006 {Strategi¢ Report
and Director's Report> Regulations 2013 is not required.
Objectives and actlvllles
Achlevements and performance
a. Review of activities
This y8ar ￿p￿sents the second full year of trading since the COVID pandemic, and the theatre and Hub café
were able to offer a full range of events. The limit on numbers and seating was maintained at Pre pandemic
levels. However. attendance levels remained down on pre pandemic levels.
In the flrst quarter of the financial year there were 46 theatre events.. an Easter show and a young children's
show. The Squlrrels Big Night Out, touring shows including the Hollywood legends of Rock and the Intellectual
Hooligans.
In the summer. a season of events took place. The summer productions were: l Am Hamlet wth Steve Speirs,
Shanty by James McDermott, The Hound of the Baskervilles by Sir Arthur Conan Doyle, Run for your Man, an
adaptation of Ray Cooney's 1980s classic Run for Your Wife, and Private Lives by Noel Coward. We also
produced a youth summer comedy v￿rkShOp and supported the 1940's weekend with two 1940's singalongs.
In the Autumn there was a fundraising amateur production of Seasons Greetings by Alan Ayckboum. This
year's Pantomime was Cinderella vthich retumed with an even greater number of shows than last year. The
show was well received. however ticket sales were down on pre pandemic levels.
In the Winter we tried an new venture - The Adult Panto - Rubbin Good, whlch was highly popu18r and will be
repeated in 2025. We also had Communicating Doors by Alan Ayd(boum. a CSODS Amateur Hire.
Popular local amateur dramatic groups hired the theatre wth Stage Direct and Cromer and Sheringham
Operatic and Dramatic Society performing and Th8 Little Theatre Players performing Tery Prat¢hett's Wyrd
Sisters. Youth and drama workshops took place during the year again in line with pre pandemic availability
levels.
Local authority grant support for the financial year came from
Norfolk County Council (£4.8k).
North Norfolk District Council (£41k) and
other grants and funding have also been obtained including Sheila Ann Day Fund £2.4K, Dementia Donation
£0.5k. Theatres Trust £5k, Sheringham Town Council £2k ancl the Norfolk Gommunlty Foundation £4.1 K
The theatre was extremely fortunate to receive significant donations during the year totalling 67k induding a
large donation from Roger Allard.
A sponsorship programme that was put in place last year. continues to be an important source of income for the
Litlle Theatre and is something vthich continues to be developed, with plans in place for a significantly
enhanced offering in the next accounting period
We continued with a ticketing service to the Sheringham and Cromer Choral Society for their perforMan￿S at
st Peter's Church, Sheringham and Cromer Parish Church. and continued our programmes working with young
people. To continue to be able to contribute to the community in this way, it is vital that we seek more funding
and increase our sponsorship.
Page 2

SHERINGHAM LITTLE THEATRE SOCIETY
(A company limited by guarantèo)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Achlevements and p•rfomiance (¢ontlnu•d)
b. Performance
Income from operational activities increased by 16% (2023: increased by 80'A}. and total costs increased by
25°/0 {2023: increased by 36Yo). Direct cost of productions were 25/0 higher (2023: 64°/o higher) than the
previous year. wth support costs being 29•/o higher (23 /0 higher) than the previous year. the increase in
operational activities being principally due to an increase in Gharitable income which whilst still not fully
recovered from pre pandemic levels have continued to strengthen and Hub sales. the costs increase being a
combination of this and a general increase in costs.
The Theatre is reporting an increase in funds of £96.753 for the year ending 31 March 2024 (2023 - an increase
in funds of £130,191} principally due to Strong performance of the Hub, a large donation and the benefit of
changes to the theat￿ tax relief rules. However the Charity's budget for the new finanGial year shows a slight
Shortfall principally due the effect of a general increase in costs.
Financial review
a. Going concern
The Trustees have considered the Charity's posltlon at the time of signing the financial statements. The
considerable support received and some choices as to operations means that there are sufficlent available
funds for the theatre to continue, and to set plans for 2025 that ensure the Theatre can continue to be an
essential part of the offering to North Norfolk reisidents and visitors.
Based on this, the Trustee5 have concluded that they have a reasonable expectation that the Charity wll have
adequate resources to continue in operational existence for th8 foreseeable future, and at least iwelve months
from the date of signing these financial statements. they therefore Continue to adopt the going con¢em basis of
accounting in p￿paring these financial statements.
b. ReseNes pollcy
The Group revlews its reserves policy annually. This review encompasses the nature of the income and
expenditure streams, the need to match variable income wth fixed commitments and the nature of the
reserves.
The review concluded that, based on its general reserves policy, a general reserve fund of £100.000 should be
sought as this refl8Cts the ongoing costs of the charity, on the assumption that the reserves should cover costs
if the theatre V￿re forced to suspend its operations for a period of four months. Designated or restricted
reserves are for Gommitments already made or subjed lo specific designalion at the time of donation.
At 31 March 2024, the unrestricted reserves totalled £475.04112023.. £394,049>. This represents the surplus on
activities undertaken by the Group and is used to finance future activities. Reserves include £114,133 (2023..
£92,234) designated for the redevelopment of the theatre buildlng, £113,754 (2023: £130,658) of designated
funds allocated for the depreciation of fixed assets. and £48,893 of designated funds for the development of
the theatre. Restricted reseNes were £16,261 (2023.. £500) at the balance sheet date.
Free reservès. being g8n8ral funds excluding any such amounts represented by tangible fixed asÉats, totalled
£191,856 {2023: £91,672).
Page 3

SHERINGHAM LITTLE THEATRE SOCIETY
(A company Ilmlted by guarantee
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Structure, governance and management
a. Constitutlon
The company is registered as a charitable company limited by guarantee and was set up by a Trust deed.
The company is a registered charity, number 1090394.
The group comprises th8 parent tharity and its wholly owned trading subsidiary company Sheringham Hub Ltd.
The profits of the trading company are distributed annually to the parent charity by gift aid.
b. Methods of appointment or electlon of Trust••s
The management of the Group and the charity is the responsibility of the Trustees tho are elected and co-
opted under the terms of the Trust deed.
c. Pay policy for senior staff
Sheringham Little Theatre Society employed an average of 20 staff during the financial year, VK)rking on the
Front of House, in Technical Services, and in the Hub Cafe, as well as support staff covering the finance and
administration functions in the upstairs office.
Sheringham Little Theatre is committed to equality of opportunity for all, ￿ether that be our employees,
applicants for 8mployment. volunteers, supporters. or users of our services. We work to ensure that no person
is discriminated against, for example by having fair systems in place for recruitment and selection and pay and
recognition and believe that everyone has the right to be treated fairly. We understsnd our responsibilities
under the Equality Act 2010. with a no tolerance approach to discrimination on the grounds of age, disability.
gender reassignment, marriage and civil partnership. pregnancy and matemity, race. religion or belief, sex, and
sexual orientation.
The Charity is committed to the training and development of all staff and with staff delivering such a variety of
work for the Charity. Sheringham Little Theatre Society has a bespoke job evaluation scheme in order to
assess each role.
Pay is reviewed annually and as for the key management personnel is benchmarked against pay levels in other
provincial theatres of a similar size as well as being mindful of pay levels in the local area.
Page 4

SHERINGHAM LITTLE THEATRE SOCIETY
IA 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 charity for the purposes of company law) are responsible for
preparing the Trustees. report and the financial ststements in accordance wlh applicable law and United
Kingdom Accounting Standards (Uniled Kingdom Generally Accepted Accounting Pracli¢e>.
Company law requires the Tnjstees to prepare financial statements for each financial . Under company law, the
Trustees must not approve the financial statements unless they ar8 satisfied that they give a true and fair view
of the state of affairs of the Group and the charity and of their incoming resources and application of resi)urces.
including their income and expenditure. for that period. In preparing these financial statements, the Trustees
are required to..
select suitable accounting policies and then apply them consistently;
observe the methods and principles of the Charities SORP (FRS 102);
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable UK AcGounting Standards (FRS 102) have been followed, subject to any
material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concem basis unless it is inappropriate to presume that the
Group WFII continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain
the Group and the charity's transactions and disclose with reasonable accuracy al any time the financial
position of the Group and the charity and enable them to ensure that the financial statements comply wth the
Companies Act 2006. They are also responsible for safeguarding the assets of the Group and the charity and
hence for taking reasonable steps for Ihe prevention and detection of fraud and other irregularities.
Approved
r of the members of the board of Twstees and signed on their behalf by:
(Trust
Date:
Page 5

SHERINGHAM LITTLE THEATRE SOCIETY
IA company Ilmlted by guarante•)
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 MARCH 2024
Independent examiner's report to the Trustoes of Sheringham Llttle Theatre Society (Yhe
Group'}
I report to the charity Trustees on my examination of the consolidated accounts of the Group comprising the
Sheringham Little Theatre Society (Ihe parent charity'} and its subsidiary undertakings for the year ended 31
March 2024.
Rosponslbllltles and ba818 of report
As the Trustees of the parent charity (and its directors for the purposes of company law) you are responsible for
the preparation of the consolidated accounts of the Group in accordance with the requirements of the
Companies Act 2006 ('the 2006 Act,) and you have chosen to prepare consolidated accounts for the Group.
You are satisfied that the accounts of both parent charity and the Group are not required by either company or
charity law to be audited and have chosen instead to have an independent examination.
Having satisfied myself that the consolidated accounts 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 examlnation of the Group's accounts
carried out under section 152 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 152{5)(b} of the 2011 Act.
An independent examination does not involve gathering all the evidence that would be required in an audit and
consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts.
The planning and conduct of an audit goes beyond the limited assurance that an independent examination can
provide. Consequently l express no option a8 to thether the consolidated accounts prosgnt a Yrue and fairf
view and my report is limited to those specific matters set out in the independent exarninerfs statement.
Independent examlner's statement
Since the Ttustees have opted to prepare consolidated a￿Ount$ for the Group your examiner must be a
member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the
examination because l am a member of the Institute of Chartered Accountants in England and Wales, which is
one of the listed b¢)dies.
I have completed my examination. I confimi thal no matters have come to my attention in connection with the
examination giving me cause to believe..
accountlng records were not kept in respect of the parent charity and its subsidiaries as required by
section 386 of the 2006 Act,. or
the accounts do not a¢¢ord wth those records. or
the accounts do not comply wtth the accounting requirements of section 396 of the 2006 Act other than
any requirement that the accounts give a 'tNe and fair, view which is nol a matter considered as part of
an independent examination,. or
the accounts have not been prepared in accordanee with the methods and principles of the Statement of
Recommended Practice for accounting and reporting by charities lappllcable 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 concems and have come across no other matters in connection wth the examination to which
attention should be drawn in this report in order to enable a proper understanding of the accounts to be
reached.
Page 6

SHERINGHAM LITTLE THEATRE SOCIETY
(A company limited by guarante0}
INDEPENDENT EXAMINER'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
This report is made solely to the charity'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 slate to the charity's
Trustees those matters l am required to state to them in an Independent examinevs 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 parent charity and the charity's Trustees as a body. for my work or for this report.
Signed:
Dated.. 27 Nov 2024
Julie Grimmer
FCA DChA
Larking Govrfen LLP
Chartered Accountants
1 st Floor Prospect House
Rouen Road
Norwich
NR11RE
Page 7

SHERINGHAM LITTLE THEATRE SOCIETY
(A company Ilmlted by guarantoe)
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND
EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2024
Unrestrlded
funds
2024
Restricted
funds
2024
Total
funds
2024
Total
funds
2023
Note
Income from:
Donations and legacies:
Total Grants and Donations
Other donations and legacies
Charitable activities
Other trading activities
Investments
73,008
7,610
405.469
268,197
2,721
76.122
149.130
7,610
405,469
268.197
2.721
245. 751
7.553
260.076
207,340
375
Total Income
757,005
76,122
833.127
721,095
Expenditure on:
Raising funds
Charitable activities
144.832
531,181
144.832
591,542
126,876
464,028
60.361
Total expendfture
676,013
60,361
736,374
590,904
Net movement In funds
80,992
15,761
96.753
130,191
Reconclliation of funds:
Total funds brought forward
Net movement in funds
394,049
80.992
394,549
96,753
264.358
130. 191
15.761
Total funds carried forward
475,041
16,261
491.302
394,549
The Consolidated statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 13 to 32 form part of these financlal ststements.
Page 8

SHERINGHAM LITTLE THEATRE SOCIETY
(A company limited by guarantee}
REGISTERED NUMBER: 04310613
CONSOLIDATED BALANCE SHEET
AS AT 31 MARCH 2024
2024
2023
Note
Fixed assets
Tanglble assets
12
120.159
145,937
120,159
145,931
Current assets
Stocks
Debtors
Cash at bank and in hand
14
15
3,267
79,330
395,093
2.090
59.851
264.694
477,690
326, 635
Creditors.. amounts falling due within one
year
16
{106,547)
(78,017)
Net currant assets
371.143
248,618
Total net ass•ts
491.302
394,549
Charity funds
Restricted funds
Unrestricted funds
17
16,261
475,041
500
17
394,049
Total funds
491,302
394,549
The charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with
section 476 of Companies Act 20C6.
The Twstees acknowledge their responsibilities for complying wth the requirements of the Act with respect to
accounting records and preparation of financial statements.
The finan
the sm
latements have been prepared in accordance ￿￿th the provisions applicable to entities subject to
panies regime.
The
nci
statements were approved and authorised for issue by the Trustees and signed on their behalf by:
JBe
R Batson
Date
I)￿)&￿8￿￿1)UF
The
tes
n pages 13 to 32 form part of these financial statements.
Page 9

SHERINGHAM LITTLE THEATRE SOCIETY
IA company Ilmlted by guaranteo
REGISTERED NUMBER: 04310613
CHARITY BALANCE SHEET
AS AT 31 MARCH 2024
2024
2023
Note
Flxed assets
Tangible assets
Investments
12
13
120,159
100
145,931
100
120.259
146,031
Current assets
Debtors
Cash at bank and in hand
15
21,452
270,897
24.828
250.047
292,349
274,875
Creditors: amoLJnts falling due within one
year
16
(137,173)
(153, 859)
Net current assets
155.176
121,016
Total ass•ts less current liabilitles
275.435
267.047
Total net assets
275,435
267,047
Charity funds
Restricted funds
Unrestricted funds
17
17
16,261
259.174
500
266,547
Total funds
275,435
267,047
Page 10

SHERINGHAM LITTLE THEATRE SOCIETY
(A company limited by guarantee)
REGISTERED NUMBER: 04310613
CHARITY BALANCE SHEET {CONTINUED)
AS AT 31 MARCH 2024
The charity's net movement in funds for the year was £8,388 (2023 - £79, 727).
The charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with
section 476 of Companies Act 2006.
The Tnjstees acknowledge their responsibilities for complw'ng with the requirements of the Act ￿th respect to
accounling records and preparation of financial statements.
The financial staternents have been p￿pared in accordance with the provisions applicable to entities subject lo
the small compa
regime.
The financi
ments were approved and authorised for issue by the Trustees and signed on their behalf by..
R Batson
Date:
6eR20ty
The notes on
s 13 to 32 form part of these financial statements.
Page11

SHERINGHAM LITTLE THEATRE SOCIETY
IA company lirnited by guarantee)
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Cash flows from operating activities
Net cash generated by operdting activities
127,678
144,424
Cash flows from investing actlvltles
Dividends, interests and rents from investments
Proceeds from the sale of tangible fixed assets
Purchase of tangible fixed assets
2,721
375
3,300
(110.873)
Net cash provided byl(used in> Inv•stlng actlvltles
2.721
{107.198}
Change in cash and cash equlvalents In the year
Cash and cash equivalents at the beginning of the year
130,399
37,226
264.694
227,468
Cash and cash equivalents at the end of the year
395,093
264,694
The notes on pages 13 to 32 form part of these flnancial statements
Page 12

SHERINGHAM LITTLE THEATRE SOCIETY
(A company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accountlng pollcles
1.1 Basis of preparatlon of financial stat•ments
The financial statements 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 2019), the Financial Reporting Standard
applicable in the UK and Republic of I￿land {FRS 102) and the Companies Act 2006.
Sheringham Little Theatre Society meets the definition of a public benefit entity under FRS 102.
Assets and liabilities are initially recognised at historical cost or transaction value unless olhepmse
stated in the relevant accounting policy.
The Statement of financial a¢tivilies (SOFA) and Balance sheet consolidate the financial statements
of the company and its subsidiary undertaking. The results of the subsidiary are consolidated on a
line by line b88i8.
The company has taken advantage of the exemption allowed under section 408 of the Companies
Act 2006 and has not presented its ovm Statement of financial activities in these financial
statements.
1.2 Company status
The company is a company limited by guarantee registered in England and Wales. The registered
address is 2 Station Road. Sheringham. Norfolk, NR26 8RE. The members of the company are the
Truslees named on page 1. In the event of the company being wound up, the liability in respect of
the guarantee is limited lo £1 per member of the company.
1.3 Golng concern
The Trustees have considered the Charity's position at the time of signing the financial statements,
and in particular the Trustees have considered the current financial strength of the Charity, together
th the range of measures the Trustees can take lo mltlgate ongolng costs should they need to.
Based on this. the Trustees have concluded that they have a reasonabl8 expectation that the
Charity will have adequate resources to continue in operational existen¢e for the foreseeable future,
and at least lffilve months from the date of signing these financial statements, they therefore
continue to adopt the going concern basis of accounting in preparing these financial statements.
1.4 Income
All income is recognised On￿ the charity has entitlement to the income, It Is probable that the
income will be received and the amount of income receivable can be measured reliably.
Page 13

SHERINGHAM LITTLE THEATRE SOCIETY
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accountlng pollcies (continued)
1.5 Expendlture
Expenditure is recognised once there is a legal or constructive obligation to transfer economic
benefit to a third party, it is probable that a transfer of economic benefits ￿￿11 be required in
settlement and the amount of the obligation can be measured reliably. Expendilure is classified by
activity. The costs of each activity are made up of the total of dlrect eosts and shared costs,
including support costs involved in undertaking each activity. DI￿¢1 costs attributable to a single
activity are allocated diredy to that aGlivity. Shared costs which contribute to more than one activity
and support costs which are not attributable to a single activity are apportioned between those
activities on a basis consistent with the use of resources. Central staff costs are allocated on the
basis of time spent, and depreciation charg8s allocated on the portion of the asset's use.
Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs
of disseminating information in support of the charitable activities. Support costs are those costs
incurred directly in support of expenditure on the objects of the company and include project
management carried out at Headquarters. Governance costs are those incurred in connection with
administration of the company and compliance Kryth constituional and statutory requirements.
Costs of generating funds are costs incurred in attracting voluntary income and those incurred in
trading activities that raise funds.
1.6 Basls of Consolidation
The financial statements consolidate the accounts of Sheringham Little Theatr8 Society and all of its
subsidiary undertakings ('subsidiaries').
The company has taken advantage of the exemption contsined Wbthin section 408 of the Companies
Act 2006 not to present its own Income and expenditure a¢￿unt.
1.7 Turnover
Turnover comprises revenue recognised by the company in respect of goods and seNices supplied
during the year. exclusive of Value Added Tax and trade discounts.
1.8 Tanglble flxed assets and depreciation
Tangible fixed assets costing £500 or more are capitallsed and re¢ognis8d then future economic
benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cosl. After recognition. under the cost model,
tangible fixed assets are measured at cost less accurnulated depreciation and any accumulated
impairment losses. All costs incurred to bring a tangible fixed asset into its intended working
condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value
over their estimated useful lives.
Depreciation is provided on the following bases..
Long-temi leasehold property
Fixtures and f ittings
10 /0 Straight line basi5
200/0 Straight line basis
Page 14

SHERINGHAM LITTLE THEATRE SOCIETY
IA company Ilmited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies (Continued)
1.9 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their
transaction cost and subsequently measured at fair value at the Balance sheet date, unless the
value cannot be measured reliably in which case it is measured at cost less impainnent. Investment
galns 8fMI losses, whether realised or unrealised. are combined and presented as 'Gainsl{Losses) on
investments, in the Consolidated ststement of financial activities.
Investmenls in subsidiaries are valued at cost less provision for impainnent.
1.10 Interest receivable
Interest on funds held on deposit is included vthen receivable and the arnount can be measured
reliably by the company,. this is normally upon notification of the interest paid or payable by the
Bank.
1.11 Volunteers
The value of services provided by volunteers and suppliers is not incorporated into the financial
statements.
1.12 Operatlng Leases
Rentals under operating leases are charged to the Statement of financial activities on a straight lin8
basis over the lease temi.
1.13 Stocks
Stocks are valued at the loV￿r of cost and net realisable value after making due allowance for
obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of
fixed and variable overheads.
1.14 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.
1.15 Cash at bank and In hand
Cash at bank and in hand includes cash and short-lerm highly liquid investments with a shorl
maturity of three months or less from the date of acquisition or op8ning of the deposit or similar
account.
Page 15

SHERINGHAM LITTLE THEATRE SOCIETY
(A company Ilmlted by guaranto•)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accountlng policies (continued>
1.16 Llabllltles and provisions
Liabilities are recognised vthen there is an obligation at the Balance sheet date as a result of a past
event, it is probable that a transfer of economic benefit wll be required in settlement. and the
amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the d)arity anticipates it will pay to settle the debt or the
amount it has received as advanced payments for Ihe goods or seNices it must provide.
Provisions are measured at the best estimate of the amounls required to settle the obligation.
Where the effect of the time value of money is material, the provision is based on the present value
of those amounts. discounted at the pr&tax discount rate that reflects the risks specific to the
liability. The unwinding of the discount is recognised in the Consolidated statement of financial
activities as a finance cost.
1.17 Flnanclal instruments
The Group only has financial 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 settlement value with the exception of bank loans which are
subsequently measured at amortised cost using the effective interest method.
1.18Taxation
The Group 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 company 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.
1.19 Pensions
The Group operates a defined contribution pension scheme and the pension d)arge represents the
amounts payable by the Group to the fund in respect of the year.
Page 16

SHERINGHAM LITTLE THEATRE SOCIETY
(A company Ilmlted by guarante0}
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accountlng policias (continued)
1.20 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Twstees in
furtherance of the general objectives of the Group and which have not been designated for other
purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for
particular purposes. The aim and use of each designated fund is sel out in the notes to the financial
statements.
Restricted funds are funds which are to be used in accordance viith specific restriGtions imposed by
donors or which have been raised by the Group 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 set out in the notes to the financial statements.
Investment income. gains and losses are allocated to the appropriate fund.
Crltical a¢countlng estlmates and areas of judgment
Estimates and judgments are continually evaluated and are based on historical experience and other
factors, including expectations of future events that are believed to be reasonable under the
circumstances.
Critical accountlng estlmates and assumptions:
The charity makes estimates and assumptions conceming the future. The resultlng accounting estimates
and assumptlons will. by definition. seldom equal the related actual results. The estimates and
assumptions that have a significant risk of causing a material adjustment lo the carrying amounts of
assets and liabilities within the next financial year are discussed below.
Allocation of expenditure between direct and support costs, and wthin that to governance and generating
funds. is on the basis of staff tim8 calculations compiled by head of operations.
crftical arnas of judgment:
The annual depreciation charge for tsngible assets is sensitive to changes in th8 estimated useful lives
and resldual values of the assets. The useful economic lives and resldual values are reasS￿d
annually. They are amended when necessary to reflect current estimates, based on technological
advancement, future investments, economic utilization and the Physical condrtion of the assets. See note
12 for the carrying amount of property, plant and equipment and note 1.8 for the useful economic lives
for each class of assets.
Page 17

SHERINGHAM LrrTLE THEATRE SOCIETY
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Income from donatlons and legacies
Unrestricted Restrict•d
funds
funds
2024
2024
Total
funds
2024
Total
funds
2023
Donations
Grants
Membership
73,008
73,008
76,122
7,610
111,543
134,208
7.553
76.122
7,610
80,618
76,122
156.740
253.304
Total 2023
119,096
134,208
253,304
Income from charitable actlvltles
Unrestrlcted
funds
2024
Totsl
funds
2024
Total
fvnds
2023
Operation of Theatre
405,469
405,469
260.076
Total 2023
260. 076
260, 076
Page 18

SHERINGHAM LITTLE THEATRE SOCIETY
(A company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Incomo from non charitable trading activities
Income from non charilable tradlng activities
Unrestrfcted
funds
2024
Total
funds
2024
Total
funds
2023
Subsidiary Income
Tax recoverable
245,352
22,845
245,352
22,845
172.941
34,399
Total 2024
268,197
268.197
207,340
Total 2023
207,340
207,340
Investment Income
unrg8trl￿od
funds
2024
Total
funds
2024
Total
funds
2023
Investment income
2,721
2,721
375
Total 2023
315
375
Analysls of expendlture by a¢llvltles
Activities
undertakèn
directly
2024
Support
costs
2024
Total
funds
2024
Total
funds
2023
Operation of Theatre
209,395
382,147
591.542
464,028
Total 2023
168, 134
295,894
464,028
Page 19

SHERINGHAM LITTLE THEATRE SOCIETY
(A company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Analysis of expendlture by activities {contlnued)
Analysis of support Costs
Operatlon
of Theatre
2024
Total
funds
2024
Total
funds
2023
Staff costs
Depreciation
Rates. light and heat
Theatre and Maintenance
Hire of Equipment
Cleaning
Insurance
Advertising and Marketing
General Office Equipment
Motor and travelllng
Computer maintenance
Subscriptions and li￿nSeS
Bank and credit card charges
Sundry
Non recoverable VAT
Contract Staff
Legal and professional
Govemance costs
202.322
25,772
32,497
9,094
1,434
4.940
7,487
15,038
11,108
3,795
19,844
1.264
7.758
2,440
11,120
19,201
13
202.322
25.772
32,497
9.094
1,434
4,940
7,487
1 5,038
11.108
3,795
19,844
1,264
7.758
2.440
11,120
19,201
13
7,020
141.797
31,852
23. 745
4.995
1,047
3,116
6,296
17,596
3,341
12,122
7,266
5.368
4.422
8,567
14, 722
25
7,020
5,953
Total 2024
382,147
382,147
295,894
Total 2023
295,894
295,894
Independent examlner's remuneration
2024
2023
Fees payable to the charity's independent examiner for the independent
examination of the charity's annual accounts
4,025
3,800
Page 20

SHERINGHAM LITTLE THEATRE SOCIETY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Staff costs
Group
2024
Group Company
2023
2024
Company
2023
Wages and salaries
Social security costs
Contribution to defined contribution pension
schemes
257,161
10.403
197,285
6.289
199,375
7,378
141. 145
5.282
3,658
3,125
2,856
2,455
271,222
206,699
209,609
148,882
The average number of persons employed by the charity during the year was as folloK'.
Group
2024
No.
Group
2023
No.
20
19
No employee ￿ceiVed remuneration amounting to mor8 than £60,000 in either year.
The Board considers the key managemerst personnel of the Sheringham Little Theatre Society in charge
of directing and controlling the Theatre to comprise the Trustees, the Theatre Director and the Finance
Manager. In the previous period the Technical Manager, the Kitchen Manager and the Marketing
Manager were also induded in Key management personnel. The total employee benefits of the key
management personnel were £70,551 (2023: £57.216).
Pay is reviewed annually and in view of the nature of the charity is benchmarked against pay levels in
other provlnclal theatres of a similar size. All trustees give their time freely and no trustee remuneration
was paid in the year. Details of trustee expenses and related paty transactions are disclosed in note 24.
10. Turnov•r
The whole of the tumover is attributable to the operation of the th8atre and it's wholly owned subsidiary.
All turnover arose Within th8 United Kingdom.
11. Net incomel{expenditure)
This is stated after charging:
Page 21

SHERINGHAM LITTLE THEATRE SOCIETY
IA company Ilmited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Depreciation of tangible fixed assets
Operating lease rental
25,772
33.978
1,113
During the year, no Trustees received any remuneration (2023 - £Nil)
During the year, no Trustees received any benefits in kind (2023 - £Nil)
During the year. Trustees recelved any reimbursement of expenses (2023 - £NII)
12. Tangible fixed assets
Group
Long-term
leasehold Flxtures and
proporty
flttlngs
Totsl
Cost or valuatlon
At 1 April 2023
169,047
303.207
472,254
At 31 March 2024
169.047
303,207
472,254
Depreciation
At 1 April 2023
Charge for the year
43,304
16,905
283.019
8.867
326,323
25,772
At 31 March 2024
60.209
291,886
352,095
Net book value
At 31 March 2024
108,838
11,321
120.159
At 31 March 2023
125. 743
20. 188
145,931
Page 22

SHERINGHAM LITTLE THEATRE SOCIETY
IA company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
12. Tangible fixed assets (continued)
Charity
Long-term
leasehold Flxlures and
property
fittlngs
Total
Cost or valuation
Al 1 April 2023
169,047
303,207
472,254
At 31 March 2024
169,047
303.207
472,254
Depreciation
At 1 April 2023
Charge for the year
43,304
16.905
283.019
8.867
326,323
25,772
Al 31 March 2024
60.209
291.886
352,095
Net book value
Al 31 March 2024
108.838
11,321
120,159
At 31 March 2023
125, 743
20, 188
145,931
Page 23

SHERINGHAM LITTLE THEATRE SOCIETY
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
13.
Fixed asset Investments
Investments
in
subsldlary
companles
charfty
Cost or valuation
At 1 April 2023
100
At 31 March 2024
100
Net book value
At 31 March 2024
100
At 31 March 2023
100
14. Stocks
Group
2024
Group
2023
Bar stock
3.267
2.090
15.
Debtors
Group
2024
Group
2023
Company
2024
Company
2023
Due withln on• yaar
Trade debtors
Other debtors
Prepayments and accrued income
Tax recoverable
12,550
43
9,493
57.244
7,946
6, 389
11,117
34,399
12,504
7,946
6.376
10,506
8.948
79,330
59,851
21,452
24,828
Page 24

SHERINGHAM LITTLE THEATRE SOCIETY
(A company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
16. Creditors: Amounts falling due wlthln one year
Group
2024
Group
2023
Company
2024
Company
2023
Trade creditors
Amounls owed to group undertakings
Other taxation and social security
Other creditors
Accruals and deferred income
18,485
29, 131
14.575
39,343
17.034
2,579
63,642
25,905
84,617
2,371
1,363
39,603
17,034
2.972
68.056
2,371
1,691
44,824
106,547
78.017
137.173
153,859
Group
2024
Group Company
2023
2024
Company
2023
Deferred income at 1 April 2023
Resources defe￿ed during the year
Amounts released from previous periods
28,700
$0,068
(28.700)
22,909
28. 700
(22,909)
28,700
50.068
{28,700)
22, 909
28, 700
(22, 909)
50,068
28, 700
50,068
28. 700
Deferred income consists of amounts r8ceived before the year end relating to perfonnances after the
year end.
Page 25

SHERINGHAM LITTLE THEATRE SOCIETY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
17. Statement of funds
Statement of funds - current year
Balance at
31 March
2024
Balance at 1
Aprfl 2023
Transfers
Inlout
Income Expendlture
Unrestricted funds
Designated funds
Future Refurbishments Fund
Fixed Asset Fund
Theatre Development Fund
92,234
130,659
(946)
{16,905)
(2,502)
22,845
114.133
113,754
48.893
51,395
222,893
51.395
120,353)
22.845
276.780
General Funds
171,156
705,610
(655,660)
{22.845)
198.261
Total Unrestrictad funds
394,049
757,005
(676,013)
475,041
Restricted funds
North Norfolk District Council
Momentum Grants - Jungle
Booklmatilda
$3,000
{41.000)
12,000
500
500
5,000
500
4,780
(500)
(s,000)
(500)
{4.780}
500
Thgatres Trust
Dementia Fund
Norfolk Art Senrfice
Sheringham Town Council -
Youth Fund
Norfolk Community Foundation
2,000
10,342
(2,000)
(6,581)
3.761
500
76,122
(60,361)
16,261
Total of funds
394.549
833,127
(736,374)
491,302
Page 26

SHERINGHAM LITTLE THEATRE SOCIETY
(A company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
17. Statemont of funds (contlnu•d)
The Future Refurbishment Fund relates to money put aside for the redevelopment of the theatre
building in Sheringham. The transfer from general reserves into the Future Refurbishment Fund relates
to a further designation of funds for this purpose.
The designated Fixed Asset Fund ￿preSentS funds spent on the refurbishmenl of the theatre. The funds
carrled forward will cover future years, depreciation on the assets.
The Thealre Development fund relates to a significant donation which was made to the theatre with the
specific intention to provide funding for items which will assist the efficiency of staff or the income
generating capacity of the theatre for vhi¢h normal grant funding is not readily available. Some smaller
items have been purchased before year end and there is a plan to use this fund over the next two years
for some larger refreshl development of income projects in line wth the donorfs request.
The annual grant support from NNDC is linked to an annual Service Level Agreement there we agree
to provide a certain number of events to support the community and visitors to the town, this includes
our youth work and inhouse productions.
The Norfolk Community Foundation provide project based funding and this funding supports the
provision of a Warm Hub. for the Community and a youth music project.
Page 27

SHERINGHAM LITTLE THEATRE SOCIETY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
17. Statement of funds (contlnued)
Statement of funds - prior year
Balance at
31 March
2023
Balance at
1 Apn'l 2022
Transfers
in/out
Income Expenditure
Unrestricted funds
Designated funds
Future Refurbishments Fund
Fixed Asset Fund
81,482
47,389
10,752
103, 132
92,234
130.659
(19, 862)
128,871
(19.862)
113.884
222.893
General Funds
135,487
586, 887
(516,819)
(34,399)
171, 156
Total Unr•strlcted funds
264,358
586,887
(536, 681)
79,485
394,049
Restricted funds
North Norfolk District Council
Norfolk County Council
Momentum Grants- Jungle
Booklmatilda
Alan Boswell Group Charitable
Trust
Theatre Refurbishment grants
41,000
11,223
(41,000)
(11,223)
500
500
2, 000
79,485
(2,000)
(79,485)
134,208
(54, 223)
(79,485)
500
Total of funds
264.358
721,095
(590, 904)
394,549
Page 28

SHERINGHAM LITTLE THEATRE SOCIETY
IA company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
18. Analysls of net assets between funds
Analysls of net assets b•tw••n funds - curr•nt period
Unrestrfcted Restrlcted
funds
funds
2024
2024
Total
funds
2024
Tangible fixed assets
Current assets
Creditors due within one year
120,159
461,429
(106.547)
120,159
477.690
(106,547)
16,261
Total
475,041
16.261
491,302
Analysls of net assets between funds - prlor perfod
Unrestricted
funds
2023
Restricted
funds
2023
Total
funds
2023
Tangible fixed assets
Current assets
Creditors due within one year
145,931
326,135
(78,017)
145,931
326.635
(78,017)
500
Total
394, 049
500
394,549
Page 29

SHERINGHAM LITTLE THEATRE SOCIETY
(A company limitod by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
19. Reconciliation of net movement in funds to net cash flow from operating activltles
Group
2024
Group
2023
Net income for the period (as per Statement of Financial Activities)
96,753
130,191
Adjustments for:
Depreciation charges
Interest r8ceived
Loss on the sale of fixed assets
Increase in stocks
(Increase) in debtors
Increase in creditors
25,772
(2,721)
33,978
(375)
3.223
(566)
(33. 175)
11,148
(1,177)
119,479)
28.530
Net cash gonerate by operating activiti¢$
127,678
144.424
20. Analys115 of cash and cash frqulvalents
Group
2024
Group
2023
Cash in hand
395,093
264,694
21. Anatysls of changes in net debt
At 1 April
2023 Cash flows
At 31 March
2024
Cash at bank and in hand
264,694
130,399
395.093
264,694
130,399
395,093
Page 30

SHERINGHAM LITTLE THEATRE SOCIETY
IA company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
22.
Penslon commitments
The group operates a defined contribution pension scheme. The assets of the scheme are held
separately from those of the group in an independently administered fund. The pension cost charge
represents contributions payable by the group to the fund and amounted to £3,658 (2023 £3.170),
Contributions totaling £787 (2023 £761) were payable to the fund at the balance sheet date and are
included in creditors.
23. Operat5ng leas• commitments
At 31 March 2024 the Group and the charity had commitments to make future minimum lease payments
under non-cancellable operatirKJ leases as foll¢)ws:
Group
2024
Group
2023
Company
2024
Company
2023
Amounts payable other
Not later than 1 year
Later than 1 year and not later than 5 years
372
1,712
371
372
1.112
371
372
1,483
372
1,483
Group
2024
Group
2023
Company
2024
Company
2023
Amounts payable Land & Bulldlngs
Not later than 1 year
Later than 1 year and not later than 5 years
Aftar more than 5 years
24. Related party transactions
Sheringham Hub Limited is a 1000/0 subsidiary of the Charity. During the year, the Charity contracted
Sheringham Hub Limited to carry out theatre production works, totalling £68.186 (2023: £97,280). The
Charity charged management fees to Sheringham Hub Limited totalling £35,000 (2023.. £30,000). At the
year end, the Charity owed £39,343 {2023.' £86,617) to Sherlngham Hub Limited,, this balance is
included in creditors.
Richard Batson. Trustee of Sheringham Little Theatre Society Limited performed work in the fomi of
freelance publicity services at a rate of £20 per hour totalling £2,465 during the year (2023: £2,890). A
creditor balance of £Nil was outstanding at the year end (2023: £Nil).
Page 31

SHERINGHAM LITTLE THEATRE SOCIETY
(A company limited by guarantee)
NOTES TO THE FINANCIAL ST ATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
25. Principal subsldlaries
The followng was a subsidiary undertaking of the charity:
The financial results of the subsidiary for the year were:
26. Principal subsldiarios
Sheringham Hub Limited
Subsidiary name
Company registration number
Basis of control
Equity shareholding /p
Sheringham Hub Limited
08133831
Shareholding
100°/0
Total assets as at 31 March 2024
Total liabilitles as at 31 March 2024
Total equity as at 31 March 2024
£224,684
£8,717
£215,967
Turnover for the year ended 31 March 2024
Expenditure for the year ended 31 March 2024
Tax credit for the year ended 31 March 2024
Profit for the year ended 31 March 2024
£313,538
£208,087
£22,845
£88,365
Page 32