**Charity Registration No. 1092559**
**Company Registration No. 04389665 (England and Wales)**
# **THAME PLAYERS THEATRE COMPANY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2021**
## **THAME PLAYERS THEATRE COMPANY**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** C M Britt M Chester A R Dale A Long J V Mccann T J Shepherd R B Snowdon C C A K Tudway (Appointed 4 September 2020) M J Rochford (Appointed 4 September 2020) S P Lambell (Appointed 4 September 2020) H M Long (Appointed 7 September 2020) B Holt (Appointed 7 September 2020) **Charity number** 1092559 **Company number** 04389665 **Registered office** Thame Players Theatre Company Players Theatre Nelson Street Thame Oxfordshire OX9 2DP **Independent examiner** Richardsons 30 Upper High Street Thame Oxfordshire OX9 3EZ
## **THAME PLAYERS THEATRE COMPANY**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 2|
|Independent examiner's report|3|
|Statement of financial activities|4|
|Balance sheet|5|
|Notes to the financial statements|6 - 14|
## **THAME PLAYERS THEATRE COMPANY**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2021**
The trustees present their report and financial statements for the year ended 31 March 2021.
The Trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2018. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (as amended for accounting periods commencing from January 2016).
## **Objectives and activities**
The Charity is established for the advancement of the education of the public in amateur dramatic art by its performance in Thame and district and the encouragement of interest in all aspects of the theatre.
The main activity of the Charity is to manage and run the Players Theatre, Nelson Street, Thame, as a venue for live and cinematic performances and to make it available to the community. In addition, the charity facilitates the production and performance of all forms of the performing arts in Thame and district.
The Trustees confirm that they have regard to the Charity Commission's general guidance on public benefit in deciding what activities the Charity should undertake.
## **Achievements and performance**
The charity has been unable to stage any performances or cinema screenings throughout the year entirely due to the Government’s Covid-19 restrictions. Throughout the period of closure, when Covid-19 restrictions have permitted, work has been carried out completely reviewing and overhauling the extensive costume and properties held in store. Further work has been done installing new equipment for which local authority grants have made possible. This equipment consists of a) cameras and related computers and software to enable future performances to be streamed worldwide when appropriate, and b) a replacement representing a significant upgrade for the talkback system, which enables technical staff and front of house staff to communicate with each other during performances.
## **Financial review**
Income for the year decreased by £64,078 in the year to £34,121 (2020: £98,199). The Charity returned an operating deficit of £23,139 (2020: £12,516 deficit). This reduced the total reserves to £208,083 (2020: £231,222) of which £1,796 are restricted funds. The cash balance at the year-end amounted to £39,220 (2020: £53,604). During the year the charity received £19,907 in the form of government grants related to the Covid-19 pandemic.
The charity maintains an emergency reserve of £25,000, explicitly held to cover unexpected or emergency needs to the ageing building.
## **Structure, governance and management**
## **Governing document**
The Charity is controlled by its governing document, memorandum and articles, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Trustees are elected by Members of the Company at each Annual General Meeting (AGM). All Trustees resign before each AGM and those that wish to, stand for re-election.
## **Statement of Trustees' Responsibilities**
The trustees, who are also the directors of Thame Players Theatre Company for the purpose of the company law, are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the Thame Players Theatre Company and of the incoming resources and application of resources, including income and expenditure, of the charitable company for that year.
- 1 -
## **THAME PLAYERS THEATRE COMPANY**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021**
In preparing these accounts, the trustees are required to: -select suitable accounting policies and then apply them consistently;
-observe the methods and principles in the Charities SORP;
-make judgements and estimates that are reasonable and prudent; and
-prepare the accounts on the going concern basis unless it is inappropriate to presume that the Thame Players Theatre company will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Thame Player Theatre Company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Thame Players Theatre Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
C M Britt M Chester A R Dale W A Gibson (Resigned 4 September 2020) A M Harrison (Resigned 4 September 2020) A Long J V Mccann P Shepherd (Resigned 4 September 2020) T J Shepherd R B Snowdon J Thomas (Resigned 4 September 2020) C C A K Tudway (Appointed 4 September 2020) M J Rochford (Appointed 4 September 2020) S P Lambell (Appointed 4 September 2020) H M Long (Appointed 7 September 2020) B Holt (Appointed 7 September 2020)
The trustees' r eport was approved by the Board of Trustees.
**M Chester** Trustee Dated: 18 August 2021
- 2 -
## **THAME PLAYERS THEATRE COMPANY**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF THAME PLAYERS THEATRE COMPANY**
I report to the trustees on my examination of the financial statements of Thame Players Theatre Company (the charity) for the year ended 31 March 2021.
## **Responsibilities and basis of report**
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act) . In carrying out my examination I have followed all the applicable 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:
- 1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements 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
- 4 the financial statements 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 financial statements to be reached.
Andrew King FCA Richardsons 30 Upper High Street Thame Oxfordshire OX9 3EZ
Dated: 18 August 2021
- 3 -
## **THAME PLAYERS THEATRE COMPANY**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2021**
**2021**
**Notes**
**£**
**£**
**Income and endowments from:**
Donations and legacies
**3**
5,007
-
Charitable activities
**4**
1,371
6,202
Other trading activities
**5**
1,624
-
Investments
**6**
10
-
Other income
**7**
19,907
-
**Total income**
27,919
6,202
**Expenditure on:**
Raising funds
**8**
237
-
Charitable activities
**9**
48,652
8,371
**Total resources expended**
48,889
8,371
**Net expenditure for the year/**
**Net movement in funds**
(20,970)
(2,169)
Fund balances at 1 April 2020
227,257
3,965
**Fund balances at 31 March 2021**
206,287
1,796|**Total**
**2021**
**£**
5,007
7,573
1,624
10
19,907
34,121
237
57,023
57,260
(23,139)
231,222
208,083|**Total**
**2020**
**£**
12,136
31,751
54,297
15
-
98,199
346
110,369
110,715
(12,516)
243,738
231,222|
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
- 4 -
## **THAME PLAYERS THEATRE COMPANY**
## **BALANCE SHEET**
## **AS AT 31 MARCH 2021**
|**Notes**
**Fixed assets**
Tangible assets
**13**
**Current assets**
Stocks
**14**
Debtors
**15**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**16**
Net current assets
**Total assets less current liabilities**
**Income funds**
Restricted funds
Unrestricted funds|**2021**
**£**
700
2,152
39,220
42,072
(984)|**£**
166,995
41,088
208,083
1,796
206,287
208,083|**2020**
**£**
1,100
1,913
53,604
56,617
(936)|**£**
175,541
55,681
231,222
3,965
227,257
231,222|
|---|---|---|---|---|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2021.
The directors acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 18 August 2021
M Chester **Trustee**
## **Company Registration No. 04389665**
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## **THAME PLAYERS THEATRE COMPANY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **1 Accounting policies**
## **Charity information**
Thame Players Theatre Company is a private company limited by guarantee incorporated in England and Wales. The registered office is Thame Players Theatre Company, Players Theatre, Nelson Street, Thame, Oxfordshire, OX9 2DP.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's memorandum and articles, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling , which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
- 6 -
## **THAME PLAYERS THEATRE COMPANY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021**
## **1 Accounting policies**
## **(Continued)**
## **1.5 Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings over 50 years Plant and equipment 25% on reducing balance Fixtures and fittings 25% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
## **1.7 Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .
## **1.8 Stocks**
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell . Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
## **1.9 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.10 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
- 7 -
**THAME PLAYERS THEATRE COMPANY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021**
## **1 Accounting policies**
## **(Continued)**
## **Basic financial assets**
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## **Basic financial liabilities**
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## **Derecognition of financial liabilities**
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## **1.11 Government grants**
Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met . Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable . A grant received before the recognition criteria are satisfied is recognised as a liability.
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
- 8 -
## **THAME PLAYERS THEATRE COMPANY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021**
## **3 Donations and legacies**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2021**
**2021**
**£**
**£**
Donations and gifts
1,902
-
Membership s
2,760
-
Friends
345
-
**For the year ended 31 March 2020**
3,905
8,231
**Donations and gifts**
Donations
697
-
Gift aid
1,205
-
1,902
-
**Charitable activities**
Box office
Other income
Analysis by fund
Unrestricted funds
Restricted funds
**For the year ended 31 March 2020**
Unrestricted funds|**Total**
**2021**
**£**
1,902
2,760
345
697
1,205
1,902
**2021**
**£**
515
7,058
7,573
1,371
6,202
7,573
31,751|**Total**
**2020**
**£**
8,781
2,885
470
12,136
8,781
-
8,781
**2020**
£
31,463
288
31,751
31,751
-
31,751|
|---|---|---|
||||
## **4 Charitable activities**
- 9 -
## **THAME PLAYERS THEATRE COMPANY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021**
|**5**
**6**
**7**
**8**|**Other trading activities**
**2021**
**£**
Fundraising events
396
Front of house
66
Theatre hire
850
Costume/prop hire
312
Programmes
-
Other trading activities
1,624
**Investments**
**2021**
**£**
Deposit account interest
10
**Other income**
**Unrestricted**
**funds**
**2021**
**£**
Government grants
19,907
**Raising funds**
**2021**
**£**
Fundraising and publicity
Membership s
75
F undraising and social events
-
Backdrop
162
Fundraising and publicity
237
237|**2020**
£
394
19,165
30,729
504
3,505
54,297
**2020**
£
15
**Total**
**2020**
**£**
-
**2020**
£
55
276
15
346
346|
|---|---|---|
- 10 -
## **THAME PLAYERS THEATRE COMPANY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021**
## **9 Charitable activities**
|Depreciation and impairment
Front of house
Programmes
Theatre hire
Royalties, licences and scripts
Publicity
Set construction
Lighting
Sound and music
Wardrobe
Props
Box office
Other expenses
Theatre development
Share of support costs (see note 10)
Share of governance costs (see note 10)
**Analysis by fund**
Unrestricted funds
Restricted funds|**2021**
**£**
494
569
-
-
1,261
280
32
1,378
1,823
6,358
-
288
-
8,047
20,530
35,509
984
57,023
48,652
8,371
57,023|**2020**
**£**
659
7,960
2,238
17,910
4,901
3,002
4,088
3,376
1,835
1,940
551
1,200
493
10,408
60,561
48,859
949
110,369
97,291
13,078
110,369|
|---|---|---|
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## **THAME PLAYERS THEATRE COMPANY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021**
## **10 Support costs**
|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Depreciation
8,052
-
Rent and rates
8,728
-
Insurance
2,109
-
Light and heat
5,412
-
Telephone
907
-
Photocopier and stationery
818
-
Sundries
976
-
Maintenance and equipment
8,178
-
Cardnet charges
329
-
Accountancy
-
984
35,509
984
Analysed between
Charitable activities
35,509
984|**2021**
**£**
8,052
8,728
2,109
5,412
907
818
976
8,178
329
984
36,493
36,493|**2020**
£
9,399
6,060
2,082
9,062
950
1,939
2,111
16,722
534
949
49,808
49,808|
|---|---|---|
Governance costs includes payments to the Independent Examiner of £ 984 (2020- £936 ) for fees.
## **11 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
There were £nil (2020: £nil) of trustees' expenses paid for the year ended 31 March 2021.
## **12 Employees**
The average monthly number of employees during the year was:
||**2021**|**2020**|
|---|---|---|
||**Number**|**Number**|
|Total|-|-|
- 12 -
## **THAME PLAYERS THEATRE COMPANY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021**
|**13**
**Tangible fixed assets**
**Freehold land**
**and buildings**
**Plant and**
**equipment**
**Fixtures and**
**fittings**
**£**
**£**
**£**
**Cost**
At 1 April 2020
234,136
69,814
32,174
At 31 March 2021
234,136
69,814
32,174
**Depreciation and impairment**
At 1 April 2020
73,524
56,685
30,374
Depreciation charged in the year
4,192
3,904
450
At 31 March 2021
77,716
60,589
30,824
**Carrying amount**
At 31 March 2021
156,420
9,225
1,350
At 31 March 2020
160,612
13,129
1,800
Included in cost or valuation of freehold property is freehold land of £24,500 (2020: £24,500).
Freehold land has not been depreciated.
**14**
**Stocks**
**2021**
**£**
Finished goods and goods for resale
700
**15**
**Debtors**
**2021**
**Amounts falling due within one year:**
**£**
Prepayments and accrued income
2,152
**16**
**Creditors: amounts falling due within one year**
**2021**
**£**
Accruals and deferred income
984|**Total**
**£**
336,124
336,124
160,583
8,546
169,129
166,995
175,541
**2020**
**£**
1,100
**2020**
**£**
1,913
**2020**
**£**
936|
|---|---|
- 13 -
## **THAME PLAYERS THEATRE COMPANY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021**
|**17**
**Analysis of net assets between funds**
**Unrestricted**
**Restricted**
**2021**
**2021**
**£**
**£**
Fund balances at 31 March 2021 are
represented by:
Tangible assets
165,199
1,796
Current assets/(liabilities)
41,088
-
206,287
1,796|**Total**
**2021**
**£**
166,995
41,088
208,083|**Total**
**2020**
**£**
175,541
55,681
231,222|
|---|---|---|
## **18 Related party transactions**
There were no disclosable related party transactions during the year (2020 - none).
- 14 -