Charity registration number 1092559
Company registration number 04389665 (England and Wales)
THAME PLAYERS THEATRE COMPANY
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
THAME PLAYERS THEATRE COMPANY
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | C M Britt | |
|---|---|---|
| A Long | ||
| J V Mccann | ||
| T J Shepherd | ||
| C C A K Tudway | ||
| M J Rochford | ||
| S P Lambell | ||
| B Holt | ||
| W Gibson | ||
| P Holland | ||
| E A Gibson | (Appointed 7 November 2022) | |
| M C M Ross | (Appointed 13 July 2022) | |
| Secretary | C M Britt | |
| 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 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 14 |
THAME PLAYERS THEATRE COMPANY
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2023
The trustees present their annual report and financial statements for the year ended 31 March 2023.
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 2023. 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
Over the year, the charity has recovered well following the pandemic and staged nearly 70 nights of entertainment including five shows by Thame Players (32 performances), tribute bands (8 nights), visiting shows (8 nights), visiting bands or music acts (7 nights), Catkids, a local children’s theatre (6 nights), Thame Cinema 4 All have shown over 20 films. Overall ticket sales have been around 63% of capacity, marginally up from 62% the previous year.
We have continued to invest in our facilities, replacing some of the older lights with more energy efficient ones thanks to a grant for Lightfoots and also including a full rebranding and redecoration of the foyer.
Financial review
Income for the year decreased by £10,727 in the year to £83,923 (2022: £94,650). The Charity returned an operating deficit of £8,408 (2022: £19,356 surplus). This reduced the total reserves to £219,031 (2022: £227,439) of which £1,147 are restricted funds. The cash balance at the year-end amounted to £59,382 (2022: £64,149).
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.
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THAME PLAYERS THEATRE COMPANY
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
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 (Resigned 13 July 2022) A R Dale (Resigned 13 July 2022) A Long J V Mccann T J Shepherd C C A K Tudway M J Rochford S P Lambell H M Long (Resigned 28 September 2022) B Holt W Gibson P Holland E A Gibson (Appointed 7 November 2022) M C M Ross (Appointed 13 July 2022)
Supplier Payment Policy
The company's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU).
The company's current policy concerning the payment of trade creditors is to:
-
settle the terms of payment with suppliers when agreeing the terms of each transaction;
-
ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts;
and
- pay in accordance with the company's contractual and other legal obligations.
Trade creditors of the company at the year end were equivalent to 4 day's purchases, based on the average daily amount invoiced by suppliers during the year.
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THAME PLAYERS THEATRE COMPANY
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
The trustees' report was approved by the Board of Trustees.
M J Rochford Trustee
19 July 2023
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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 2023.
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.
Rachel Porter ACA MAAT Richardsons
30 Upper High Street Thame Oxfordshire OX9 3EZ
Dated: 19 July 2023
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THAME PLAYERS THEATRE COMPANY
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023
| Unrestricted Restricted funds funds 2023 2023 Notes £ £ Income and endowments from: Donations and legacies 3 4,798 - Charitable activities 4 31,237 - Other trading activities 5 47,791 - Investments 6 97 - Other income 7 - - Total income 83,923 - Expenditure on: Raising funds 8 97 - Charitable activities 9 91,956 278 Total resources expended 92,053 278 Net (expenditure)/income for the year/ Net movement in funds (8,130) (278) Fund balances at 1 April 2022 226,014 1,425 Fund balances at 31 March 2023 217,884 1,147 |
Total 2023 £ 4,798 31,237 47,791 97 - 83,923 97 92,234 92,331 (8,408) 227,439 219,031 |
Total 2022 £ 11,492 23,203 40,352 4 19,599 |
|---|---|---|
| 94,650 | ||
| 549 | ||
| 74,745 | ||
| 75,294 | ||
| 19,356 208,083 |
||
| 227,439 |
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.
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THAME PLAYERS THEATRE COMPANY
BALANCE SHEET
AS AT 31 MARCH 2023
| Notes Fixed assets Tangible assets 14 Current assets Stocks 15 Debtors 16 Cash at bank and in hand Creditors: amounts falling due within one year 17 Net current assets Total assets less current liabilities Income funds Restricted funds Unrestricted funds |
2023 £ 700 3,995 59,382 64,077 (1,080) |
£ 156,034 62,997 219,031 1,147 217,884 219,031 |
2022 £ 700 3,452 64,149 68,301 (1,020) |
£ 160,158 67,281 |
|---|---|---|---|---|
| 227,439 | ||||
| 1,425 226,014 |
||||
| 227,439 |
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 2023.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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 19 July 2023
M J Rochford Trustee
Company registration number 04389665
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THAME PLAYERS THEATRE COMPANY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
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 amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. 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.
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THAME PLAYERS THEATRE COMPANY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
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 the statement of financial activities.
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 at 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 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
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THAME PLAYERS THEATRE COMPANY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
1 Accounting policies
(Continued)
1.11 Government grants
Government grants are recognised at the fair value of the asset received 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.
3 Donations and legacies
| Unrestricted funds 2023 £ Donations and gifts 846 Memberships 3,449 Friends 503 Donations and gifts Donations 846 846 |
Total 2022 £ 7,761 3,197 534 |
|---|---|
| 7,761 | |
| 7,761 |
4 Charitable activities
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Box office | 31,237 | 23,203 |
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THAME PLAYERS THEATRE COMPANY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
5 Other trading activities
| 6 7 8 |
Fundraising events Front of house Theatre hire Costume/prop hire Programmes Other trading activities Investments Deposit account interest Other income Government grants Raising funds Fundraising and publicity Memberships Fundraising and social events Backdrop Fundraising and publicity |
2023 2022 £ £ 395 470 11,291 10,792 33,363 24,073 - 1,719 2,742 3,298 47,791 40,352 2023 2022 £ £ 97 4 Total Unrestricted funds 2023 2022 £ £ - 19,599 2023 2022 £ £ - 223 - 78 97 248 97 549 97 549 |
2022 £ 470 10,792 24,073 1,719 3,298 |
|---|---|---|---|
| 40,352 | |||
| 2022 £ 4 |
|||
| 2022 £ 223 78 248 |
|||
| 549 | |||
| 549 |
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THAME PLAYERS THEATRE COMPANY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
9 Charitable activities
| Depreciation and impairment Front of house Programmes Theatre hire Royalties, licences and scripts Publicity Set construction Lighting 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 |
2023 £ 278 3,952 2,041 21,471 6,506 5,606 1,840 5,593 1,524 672 1,493 - 5,809 56,785 34,356 1,093 92,234 91,956 278 92,234 |
2022 £ 371 4,991 1,665 15,818 2,390 1,464 1,365 956 590 478 1,162 100 8,663 |
|---|---|---|
| 40,013 33,569 1,163 |
||
| 74,745 | ||
| 74,374 371 |
||
| 74,745 |
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THAME PLAYERS THEATRE COMPANY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
10 Support costs
| Support costs Governance costs £ £ Depreciation 5,925 - Rent and rates 5,660 - Insurance 2,777 - Light and heat 7,725 - Telephone 862 - Photocopier and stationery 1,336 - Sundries 217 - Maintenance and equipment 9,854 - Bank charges - - Accountancy - 1,093 Legal and professional - - 34,356 1,093 Analysed between Charitable activities 34,356 1,093 |
2023 £ 5,925 5,660 2,777 7,725 862 1,336 217 9,854 - 1,093 - 35,449 35,449 |
2022 £ 6,466 5,350 2,551 6,682 790 1,267 67 10,371 25 1,020 143 |
|---|---|---|
| 34,732 | ||
| 34,732 |
Governance costs includes payments to the Independent Examiner of £1,080 (2022- £1,020) 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 (2022: £nil) of trustees' expenses paid for the year ended 31 March 2023.
12 Employees
The average monthly number of employees during the year was:
| 2023 | 2022 | |
|---|---|---|
| Number | Number | |
| Total | - | - |
There were no employees whose annual remuneration was more than £60,000.
13 Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
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THAME PLAYERS THEATRE COMPANY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
| 14 Tangible fixed assets Freehold land and buildings Plant and equipment Fixtures and fittings £ £ £ Cost At 1 April 2022 234,136 69,814 32,174 Additions 2,079 - - At 31 March 2023 236,215 69,814 32,174 Depreciation and impairment At 1 April 2022 81,909 62,895 31,162 Depreciation charged in the year 4,220 1,730 253 At 31 March 2023 86,129 64,625 31,415 Carrying amount At 31 March 2023 150,086 5,189 759 At 31 March 2022 152,227 6,919 1,012 Included in cost or valuation of freehold property is freehold land of £24,500 (2022: £24,500). Freehold land has not been depreciated. 15 Stocks 2023 £ Finished goods and goods for resale 700 16 Debtors 2023 Amounts falling due within one year: £ Prepayments and accrued income 3,995 17 Creditors: amounts falling due within one year 2023 £ Accruals and deferred income 1,080 |
Total £ 336,124 2,079 |
|---|---|
| 338,203 | |
| 175,966 6,203 |
|
| 182,169 | |
| 156,034 | |
| 160,158 | |
| 2022 £ 700 |
|
| 2022 £ 3,452 |
|
| 2022 £ 1,020 |
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THAME PLAYERS THEATRE COMPANY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
18 Analysis of net assets between funds
| Analysis of net assets between funds | ||
|---|---|---|
| Unrestricted Restricted 2023 2023 £ £ Fund balances at 31 March 2023 are represented by: Tangible assets 154,887 1,147 Current assets/(liabilities) 62,997 - 217,884 1,147 |
Total 2023 £ 156,034 62,997 219,031 |
Total 2022 £ 160,158 67,281 |
| 227,439 |
19 Related party transactions
There were no disclosable related party transactions during the year (2022 - none).
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