Registered number 631812 Charity number 1099081
- GEOFFREY WHITWORTH THEATRE LIMITED (Limited by Guarantee)
Unaudited Accounts for the year ended 31 July 2023
- GEOFFREY WHITWORTH THEATRE LIMITED
Contents of the Accounts for the year ended 31 July 2023
| Page | |
|---|---|
| Trustees' Report | 1-5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Performance (including Income and ExpenditureAccount | 7 |
| Statement of Financial Position (Balance Sheet) | 8 |
| Notes | 9-11 |
| InformationfortheTrusteesonly | 12 |
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GEOFFREY WHITWORTH THEATRE LIMITED
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Trustees’ Report for the year ending 31 July 2023 The Trustees are pleased to present their annual report together with the financial statements of the Charity for the year ended 31 July 2023 which are also prepared to meet the requirements for a Trustees’ report and accounts for Companies Act purposes.
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The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, 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) (effective 1 January 2015). OBJECTIVES AND ACTIVITIES
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The charity owns and operates an amateur theatre, to promote, maintain, improve and advance public education in artistic taste for appreciation of the arts in the London Borough of Bexley and the neighbourhood. The theatre presents approximately 10 productions each year including dance, drama, music and singing making particular provisions for educational and community programmes for the benefit of the public. The members of the theatre pay an annual subscription. The theatre operates via two sub-committees to govern both the drama content and manage the running of the theatre building. ACHIEVEMENTS AND PERFORMANCE The Board has been convened 12 times since the last AGM and has always had a quorum (a minimum of three members). Procedure at Board meetings is governed by the Standing Orders. Standard items on the agenda at all meetings are the financial reports for the Company, the Secretary's report and correspondence and the reports of the Club and Drama Committees. In conducting our affairs, the Trustees’ paramount concern is to secure the long term future of the theatre, an endeavour for which we have provided evidence to the Charity Commission, and for the safety, comfort and enjoyment of our audiences, actors and all of the voluntary workers. As a charity we see our principal public benefit as being the continued provision of high quality amateur drama to the people of Crayford and the surrounding area which we are able to do at low prices by virtue of all actors and theatre staff being unpaid. Following a successful tour to the Minack Theatre in Cornwall Trustees had the funding to implement elements from the development plan that would develop an infrastructure to support sustainability for the future. With fluctuating interest rates, the Trustees continually review market interest rates to maximise returns on the theatre’s investments. During the year our work has included: some roof repairs; an update to our CCTV system: the purchase of a rolling tool chest for our set builders; repairs to the roofs of our storage containers: improved access to our roof; the installation of a battery store in readiness for improved use of solar energy; remedial work to our fire alarm system; and repairs to our passenger lift. A significant project has been the new stage surface, based on a design by one of our technical members.
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The continuation of ever increasing energy bills have prompted the Trustees to look closely at effective ways of reducing our energy usage. The Trustees are actively exploring the feasibility of increasing the use of solar energy and preparing for ways of storing it. The move towards more LED lighting while energy saving will also be necessary as the tungsten bulbs are no longer made. Many departments, including backstage and wardrobe, for example, are very adept at reusing and recycling materials in line with the Little Theatre Guild’s “Green Book”. —
GEOFFREY WHITWORTH THEATRE LIMITED Trustees’ Report , continued for the year ending 31 July 2023 During the 2022-23 season the theatre celebrated its 75th Anniversary — a considerable achievement, especially taking into account the last few years. To celebrate, the theatre held a Gala performance on the first night of Twelfth Night, the last show of the season. The performance was very well attended, and as well as the show being very well received, the evening raised £550 for charity. The anniversary was also celebrated by the updating of John Measures’ original booklet covering the first 50 years of the GWT. Maurice Tripp was responsible for the time-consuming task of adding the last 25 years to produce our 75th anniversary booklet.
FINANCIAL REVIEW The net incoming resources for the year totalled £6,675 (2022 £884). None of the resources is to be used on restricted projects.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Company was incorporated on 3 July 1959 and is governed by a Memorandum of Association adopted in revised form on 5 October 2002, when the Company gained charitable status. Following the merger of the Company and the Club, the Memorandum and Articles of Association were updated again and the changes formally adopted in February 2016.
Only Company members are eligible for appointment as Trustees and only members of the Club with at least two years’ standing may become members of the Company. Thus any new Trustee will already be familiar with the work of the charity, having been involved with it for a number of years. A new Trustee receives the Memorandum and Articles of Association of the Company and the Rules of the GWT, as well as a copy of the Charity Commission document The Essential Trustee: What You Need To Know
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- GEOFFREY WHITWORTH THEATRE LIMITED
- Trustees’ Report , continued for the year ending 31 July 2023
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TRUSTEES RESPONSIBILITIES 7 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 Company and of the net movement of funds for that period. In preparing those 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; - State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial Statement; and - prepare the accounts on the going concern basis unless it js inappropriate to presume that the Company will continue in business.
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The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the accounts comply with the Companies Act 2006 and the Charities Act 2011. They are also responsible for safeguarding the assets of the Company and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
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RISK MANAGEMENT
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The Trustees confirm that the major risks to which the charitable Company is exposed, as identified by the Trustees, have been reviewed and systems have been established to manage those risks. There are governance risks which may arise from inappropriate or inadequate organisational Structures, from difficulties in recruiting Trustees and other leading personnel with relevant skills and from conflicts of interest. As safeguards we have: - the Memorandum of Association and Articles of the Company; - the Rules of the Club which have been drawn up by the Trustees; - The Standing Orders for the conduct of Trustees’ meetings; - the Report of the Trustees (in addition to the Statutory required report attached to the accounts) presented to each Annual General Meeting; and - the Trustees’ liability insurance, reviewed annually.
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There are operational risks which may arise from failures in service quality, inadequate controls on contract pricing, welfare and health and safety complaints from our volunteers, fraud and misappropriation.
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As safeguards we have: - the responsibilities of the Club and its Drama Sub Committee closely defined in the Rules, with monthly reports presented to Trustees; - insurances, including both public and employer’s liability insurance, which documents are displayed in the foyer; - policies in respect of financial management and all risks to our volunteer workers and audience.
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There are financial risks which may arise from failures in the accuracy and timeliness of financial information, from the inadequacy of reserves, from cash-flow difficulties, from the diversity of income sources and from the risks involved in investment management. As Safeguards we have: - a financial management policy (listed above): - a policy on reserves: - monthly financial reports, and - annual accounts, reviewed by an accountant and presented to the Annual General Meeting.
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There are risks to the conduct of the business due to external factors, including public perception, adverse
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publicity, demographic changes and government policy. As safeguards we have: a em
GEOFFREY WHITWORTH THEATRE LIMITED Trustees’ Report , continued for the year ending 31 July 2023 ; of - our affiliation to the Little Theatre Guild of Great Britain, an umbrella organisation which is a source information and advice: - our publicity machinery, including press releases, widely distributed brochures and posters, and the Club’s monthly magazine distributed to approximately 1,100 members. We may face minor risks arising from failure to comply with the law and local or national government regulations, which might lead us to infringe trust law, employment law and regulatory requirements for such activities as fund-raising, the protection of our volunteers, Club members and the children attending the Club’s Youth Theatre. In order to minimise such risks we have: - a Premises Licence from the London Borough of Bexley - a child protection policy and health and safety policies which, as with all other policies, are controlled by the Trustees; - annual health and safety inspections as required by our insurers; - our disaster response and recovery plan; - insurance cover for the building and its contents, reviewed annually; - the Club’s uncommitted reserves, which are currently maintained in excess of £75,000. There is the general risk to the continuation of the business of the theatre, which could arise from such an event as a fire or, for example, illness among several members of the cast of a play, necessitating its cancellation. We have to safeguard against the loss of the theatre’s sole source of income: ticket sales and bar and coffee bar sales. Accordingly we have:
- our disaster response and recovery plan; - insurance cover for the building and its contents, reviewed annually; - the Club’s uncommitted reserves, which are currently maintained in excess of £75,000. The above policies were urgently reviewed by the Trustees when the government-imposed lockdown restrictions were put in placein order to ensure that the contents of the policies remain correct and that working practices are in compliance and it was found that previous prudent management had provided robust cover. The policies are readily available to all volunteers and Club members. Copies of certain policies are given to those volunteers for whom they should be working guidelines.
FUTURE STRATEGY Among its objects the charity seeks to promote young people's enthusiasm for drama and their involvement in the dramatic arts by including them wherever possible in acting and backstage work for productions. A continuing priority is to secure a volunteer workforce that can support the season. Usually approximately 200 volunteers work throughout the season to support us in meeting our aims and objectives. While we are very encouraged that audience figures are gradually rising this remains an area for constant vigilance. The Trustees continue to consider future developments that meet their major priority of building sustainability for the future, whilst also building and maintaining sufficient reserves to cover a major eventuality. REFERENCE AND DEMONSTRATIVE DETAILS The Geoffrey Whitworth Theatre Limited is a company (registered number 631812) limited by guarantee and therefore with no share capital, and a registered charity (number 1099081) REGISTERED OFFICE 4 Downs Valley Hartley Lonofield Kent DA3 7RA
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GEOFFREY WHITWORTH THEATRE LIMITED
Trustees’ Report , continued for the year ending 31 July 2023
ASSOCIATION SECRETARY
R Lindsey
BANKERS
HSBC Bank plc 38 High Street Dartford DA1 1DG
SMALL COMPANY PROVISIONS
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This report of the Trustees has been prepared in accordance with the special provisions of the Companies Act 2006 relating to small companies. STATEMENT AS TO DISCLOSURE TO OUR INDEPENDENT EXAMINER In so far as the Trustees are aware at the time of approving our annual report:
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- there is no relevant information, being information needed by the accountant in connection with preparing their report, of which the Independent Examiner is unaware, and - the Trustees, having made enquiries of fellow Trustees and the Independent Examiner, that they ought to have individually taken, have each taken all Steps that he/she is obliged to take as a Trustee in order to make themselves aware of any relevant audit information and to establish that the Independent Examiner is aware of that information. @/ a Approved by the Board on AMY VY 30/cA [28 D Webster Chair
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GEOFFREY WHITWORTH THEATRE LIMITED Independent Examiner's Report
Accountant's Report on the unaudited accounts to the directors of GEOFFREY WHITWORTH THEATRE LIMITED In accordance with the engagement letter dated 28 September 2018, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company which comprise the Statement of Financial Activities, Balance Sheet and the related notes from the accounting records and information and explanations you have given to us. This report is made to the Company's Board of Trustees, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the Company's Board of Trustees that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's Board of Trustees, as a body, for our work or for this report.
You have acknowledged on the Balance Sheet for the year ended 31 July 2023 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the Statutory requirement for an audit for the year.
Joanna McGovern MBA FCCA FMAAT ATT(Fellow) Brendan P Byrne & Co Ltd Accountants, Bexley
Independent Examiner
nil SOS) (29a5
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| GEOFFREYWHITWORTH THEATRE LIMITED | GEOFFREYWHITWORTH THEATRE LIMITED | GEOFFREYWHITWORTH THEATRE LIMITED | |||
|---|---|---|---|---|---|
| StatementofFinancial Performance (including Income forthe yearended 31 July2023 |
and ExpenditureAccount) | ||||
| Notes | Total Funds | Total | Funds | ||
| Year | Year | ||||
| 2023 | 2022 | ||||
| £ | 3 | :. | : | ||
| Incoming Resources | |||||
| General donations and similar income | 3 | 1,174 | 875 | ||
| Activities to further the charity's objectives: | 2 | ||||
| Seat sales Subscriptions Touring productions |
89,767 8,450 Ms a |
13,266 8,195 - |
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| Activities to generate funds: | 133,440 | 81,461 | |||
| Bar profit/(loss) Coffee shop profit/(loss) Other |
8,027 3,052 175 |
8,017 2,297 267 |
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| 11,253 | 10,581 | ||||
| Grants Interest Received |
0 1,685 |
2,667 659 |
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| Resources Expended | 147,553 | 96,244 | |||
| Costs ofgenerating funds: | |||||
| Bank charges and interest | 2,391 | 1,724 | |||
| Building Expenditure: | |||||
| Rates | 1,263 | 800 | |||
| Energy | 12,699 | 6,269 | |||
| Insurance | 8,446 | ioT | |||
| Repairs and renewals | 15,804 | 11,606 | |||
| Professional fees | 571 | 140 | |||
| Telephone | 711 | 699 | |||
| Depreciation | TO,01 1 | 12,403 | |||
| Sundryexpenses | 3,999 | 4,249 | |||
| Drama Expenditure: | 58,804 | 43,737 | |||
| Production expenses | 62,421 | 39,558 | |||
| Computer costs and website | 180 | 210 | |||
| Printing and publicity | 14,761 | 7,901 | |||
| Programmes | 2,320 | 2,230 | |||
| 79,682 | 49,898 | ||||
| Total Resources Expended | 140,877 | 95,360 | |||
| NetMovementinFunds | 10 | 6,675 | 884 |
None of the other funds are restricted in nature for 2022 or 2023.
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GEOFFREY WHITWORTH THEATRE LIMITED
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Statement of Financial Position (Balance Sheet) as at 31 July 2023
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Notes 2023 2022
£ £
Fixed Assets
Tangible Assets 4 261,336 234,481
Current Assets
stocks 3,709 9,007
Debtors 5 11018 25,471
Cash at bank and in hand 6 140,455 148,060
162,041 182,538
Creditors: amounts falling due
within one year 7 (8,563) (8,792)
Net current liabilities 153.411 ree We Fg
Total assets less current
liabilities 414,813 408,228
The Funds of the Charity 10
Appeal fund ~ -
Life membership fund 4,931 9,021
Accumulated fund 409,882 403,207
414,813 408,228
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The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023. The members have not required the company to obtain an audit of its financial statements for the year ended 30 July 2023 in accordance with Section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for: (a) ensuring that the company keeps accounting records which comply with Section 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Section 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. | Bf
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The financial statements were approved by the Board of Directors| ON Ce)...S]AYMAL.ofoe eeceeeeeeeee 40/H23 and were signed on its behalf by: Director
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Notes to the accounts at 31 July 2023
GEOFFREY WHITWORTH THEATRE LIMITED
- Accounting Policies Basis of Preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The Geoffrey Whitworth Theatre Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
Depreciation No depreciation has been provided on freehold property because it is the practice to maintain the property in a continual state of sound repair. The life of the building and its residual value is considered to be so high that depreciation should not be provided. Any improvements to the premises will be depreciated at the rate of 25% per annum on a reducing balance basis except specific fixtures which have been determined to have a 20 year life. The rest of the equipment that is owned by the company is depreciated using the straight-line method over 3, 5 or 10 years depending on the expected useful life of each item purchased, this methodology has been adopted from the club's previous practices and deemed appropriate to continue. Funds Unrestricted funds are incoming resources receivable without further specified purpose and are available as general funds, restricted funds are to be used for specific purposes as laid down by the donor
Resources Expended Resources expended are recognised in the period in which they are incurred, they include VAT which cannot be recovered but do not include the value of services provided by volunteers Risk Management The Company's risk management programme seeks to minimise potential adverse effects on the Company's financial performance as described in the Trustees' Report on pages 2 to 5. Interest Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank 2. Incoming resources from activities to further the charities objectives Incoming Resources, which is stated net of value added tax, represents amounts charged to the membership for subscriptions to the theatre, seat sales for members and public watching performances, further funds come from ancillary income from the sales of 3. General donations and similar income Donations can include sums from sales of unused items from the props store or wardrobe of the theatre and although the funds are not formally restricted in nature it is the intention of the Trustees to use the cash generated to purchase costumes and the like for use in future productions.
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GEOFFREY WHITWORTH THEATRE LIMITED
Notes to the accounts, continued at 31 July 2023
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4. Tangible fixed assets
Freehold Freehold Improvements Plant and
Property Land and Fixtures Machinery Total
¥. £ £ 2 £
Cost
At 1 August 2022 38,379 72,395 385,537 210,683 706,988
Additions - - 6,190 35,976 42,166
Disposals - - a ‘ i
At 31 July 2023 38,373 _, . 72,395 391,727 246,659 749,154
Depreciation
At 1 August 2022 - - 286,811 185,696 472,507
Charge for the Year - - 6,209 9,102 10,341
Eliminated on Disposal Ss - . i ss
At 31 July 2023 - - 293,020 194,798 487,818
Net book value
At 31 July 2023 SO.0t0 72,395 98,707 91,861 261,336
At 31 July 2022 30,013 72,395 98,726 24,987 234,481
Freehold Land represents the purchase cost of some land for additional car parking adjacent to the
Freehold Property that consists of the theatre itself.
The brought forward balances for improvements to premises include projects approved by the Arts Council
a lottery grant and the expenditure includes the completed projects so far such as the extra land, extension,
seating, artwork, car park and disabled facilities. These figures have been stated net of that that grant received.
A similar approach was adopted for the recent refurbishment of the the toilets, included in additions at 31 July
The expenditure has been shown net of the the grant received from the Theatres Trust for accessibility.
5. Debtors 2023 2022
£ x
Other debtors and prepayments 1E61f 25,471
Value added tax ¥ ~
17,877 25,471
6. Cash at bank and in hand 2023 2022
e x
Premium business account 80,876 15,426
Current accounts 28,789 36,658
Fixed term deposits 30,000 95,186
Cash in hand Se eee:
140,455 148,060
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The brought forward balances for improvements to premises include projects approved by the Arts Council for a lottery grant and the expenditure includes the completed projects so far such as the extra land, extension, seating, artwork, car park and disabled facilities. These figures have been stated net of that that grant received. A similar approach was adopted for the recent refurbishment of the the toilets, included in additions at 31 July 2020. The expenditure has been shown net of the the grant received from the Theatres Trust for accessibility.
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Notes to the accounts, continued at 31 July 2023
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Creditors: amounts falling due within one year
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GEOFFREY WHITWORTH THEATRE LIMITED
| 7. | Creditors: amounts falling due within one year | ||
|---|---|---|---|
| 2023 | 2022 | ||
| e | £ | ||
| Sundrycreditors, accruals and deferred income Provision fortaxation |
6,703 1,861 |
8,324 467 |
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| 8,563 | 8,792 | ||
| 8. | Sharecapital |
The company is limited by guarantee with no share capital. The liability of each member is limited by guarantee. Each member has agreed to contribute ten pounds in the event of the club being wound up. 9. Taxation The charity is exempt from tax on income and gains falling within section 505 of the Income and Corporation Taxes Act 1988 as any excesses of income over expenditure, if made, are applied to its charitable objects. 10. Statement of Total Recognised Gains and Losses
| 2023 | 2022 | |
|---|---|---|
| Restricted Funds - Appeal Fund: | 2 | £ |
| At 1 August | - | |
| - | ||
| Funds allocated to expenditure on roofworks | - | - |
| At 31 July | ~ | |
| - | ||
| Restricted Funds - Life membership fund: | ||
| At 1 August Reduction in numbers At 31 July |
5,021 (90) 4,931 |
5,245 (224) 9,021 |
| 2023 | 2022 | |
| 8 | £ | |
| Unrestricted Funds - Accumulated Fund | ||
| At 1 August Netmovement offunds forthe current year At31July |
403,207 6,675 409,882 |
402,323 884 403,207 |
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