Compary regi8trotion numb8r. 04654247
Charlty re9i6tratton number: 1103599
LymeArts Community Trust Limited
(A company limited by guarantee)
Annual Report and FIna￿la1 Stgtemnts
for the y￿ ETr*l 31 D•cember 2023
WESTCOTTS

Lym￿lS Community Trust Llmltod
Contents
Referertce and Admlnislratfve Detsils
Strategk Report
2to3
T￿￿ee$. Report
4t05
Inde￿ndent Ex8minerfs Report
statsment of Flnandal AcU¥ltloS
Balance Sheet
St8ternenl of Cash Flo
Ncte8 to the Financial Statements
10t021

LymeArts Community Trust Llmlted
Reference and Admlnlstratlve Detalls
Chaimian
J Pound
Trus*g9$
D Harraway Irasignad 31 March 20241
M Thomas
J Poun(I lappolnl8d 17 February 2023)
S Knight$ lappoinled 17 February 2023)
K Gigg lappolnted 2 May 20231
S Rai lappoinled 31 Juty 2023)
T Morton {appoinled 31 July 2023}
hA Hamer lappolnled 31 July 20231
N Cleog {resignèd 2 May 20231
D Lawfance (resigned 31 July 2023}
P Edmonds {re8igned 31 Juty 20231
J Murphy (resigned 2 May 2023)
T Blech (resigned 2 May 2023)
che￿ Flett lappoSnl8d 22 April 20241
Charty Registration NuM￿r
1103599
company Registration Numb•r 04654247
R•gl$tered Offlce
Timberty
South Street
Axminster
Devon
EX13 SAD
Indep¢nd•nt Examln•r
Westcotts (SWI LLP
Timberly
South Streat
Axminsler
Devon
EX13 SAD
Pag9 1

LymeArts Community Trust Llmlted
Strategic Report for the Yoar Endad 31 Docember 2023
The ttustees, v4ho are directors for the puiposes of company law, present their strategic rewrt for the
year ended 31 December 2023. in compliance $414C of the Comp8nies Act 20[￿.
Achlevem8nt8 and ￿rfOrManc0
During 2023 The Marine consolid81Èd rts 5tsble posilion in preparation for growth the following year.
The focus reMaI￿d on profftabk progr8mmlng, communlly reach through events and non-profiiable
oulreaoh pmjeots.
2023 saw the complètion of the fitsl academic year of the Mariné Youth Thèatrè school. Throughout
the first ye8r, places remained ovef5ubscribed with a waiting ItSt. The fiist major production took place
with the students perfomiing Ann1& the Musical. This was a resounding success with the Ilckets belng
purchaserj much morg widgly than frfends and farn1￿ of the sttjdgnts.
The Marine also produced it's first in hwse production of Glengarry Glenros8. This show was
producgd and fvnded all in hous8 an(J Tan for 2 nighls. 11 was Ilrst schedule lo run in May but had to
be pushed back to October due lo urrforeseen circumstan¢es.
the aid of grant fvnding the Marine rounded off thè hugely su¢c8ssful community outreach
programme called Senior Creatives. Thi$ progfamme was aimed towards senior citizens and ea¢h
month they would come together lo sing and dance on altemative months. The Tea Dancgs wer8 very
popular and saw peopl& coming froTh far and wide to enjoy the sessions. Grant funding is being
sought lo continue this project.
Th8 Crim8 F8stival, Lym& Crime was held al the theatre for the sacond consecutive year.
celebraliTr9 the best of crime and thriller ficiion.Thts fe81ured leading crime authors such as Erin Kelly,
Kale Moose and many more well renowned authors.
The summer saw a th115chedule of events many of which were sellouts which include Lisa O'N8ill,
The Darkside of Pink Floyd, Beth Nlelson Chapman and An Evening Without Kate Bush.
Oijtflnrw theatre rÈmainfid prjpiilar again thi8 wjmmer wilh prrKliirlinns nf IhA Ilgty DiirJ(lino All 18klno
pla￿ on the Squar8.
The MarSne ¢onlSnu8 il's offering of free events to the public - Sea Shanty Son9s by the Shanty
singers is still hug¥ly popular and has proved lo be much loved by the local comrnunity and vi$itors
alike. This free event is hosted monthly, and we have also continued ￿th our k)ng running free
Sunday Sessions event which creates a space whereby anyone Can lake cenlfe stage and entertain
with their musical tslenl whatever that maybe.
. Al the end T)f September. The Three Degreès w8re fealur8d at Thè Marin8 on their UK tour.
The year was rounded off wllh the first New Yearfs Eve event. This was a hugely popular and
successful event with th8 local cornmunity.
Pagg 2

LymeNrts Communlty Trust Llmlted
Slrategic Report for the Year Ended 31 December 2023
Financial r•vi•w
The Charity received total income of £520.937 during the period Iperixi to 31 December 2022..
£477,288), of which £4T9.505 was unrestricted (period lo 31 Dgcember 2022.. £463,288). Expenditure
totalled £508.568 (period lo 31 Decèmber 2022.. £436,109), of which was £18,072 was restricled
Iperio(I 10 31 December 2022: £14.817I. As at 31 December 2023, the charity had unrestn.cled
Teseryes of £493,757 131 De￿mber 2022.. £504,748) and restricted reserves of £157,782 131
December 2022- £134,422). Furlher details can be found in the Stslement ol Flnancial Activities.
Policy on r•s8rvo8
In order to ensure the theatre Coukt continue lo operate in the evenl of the ¢ircumstanc8 oul of thg
charitys control. the charity continues to worl( towards building up its unrestricted Current assets.
Plan5 for future perltxls
Alms and key objectlves for future perlods
To Install DCP projector to 8nabl8 ne￿Y released film5 to b8 alred.
• To roplace the stage curtains and chairs in the auditorium
• To expand Ihe youth theat￿ with Ihe introduct4.on ol new classes
To r8organise and extend the bar to facilitate a secondary space suétablo for smaller Bvenls.
A collaboration with other theatres in Dorsel. slarting with a project with The Mowlem Theatre in
Swanage.
Th& strategic report was approved by the trustees of the charlty on
8nd slgned on ils
Chair
n and trustee
Page 3

LymeArts Community Trust Llmlted
Trustees. Report
The trusle8s. who are directors for the purposes of company law, present the annual report together
with the fjn8nci81 slalemenls of th8 charitable compariy for the ￿ar en(led 31 December 2023.
ObJe¢tlves and acovltles
ObJe¢ts and aims
The Charitys objects are to advance education in and to foster and promote Ihe maintenan￿,
improvement and development of the performlng arts, and lo encourage knowledge, understandlng
and appreciation thereof among the inhabitants of th8 Lyme Regis and surrovnding Isislrict without
distinction of sex. sexual orienlation, race, 8ge or polWtxI, r8llgious or other option5.
The Tfustees have regard to the commission's public benefit guldance. All of the charbtable 8Ctivities
are undertaken to further our charitable purpose for the public benefiL
Public benefit
The trustees conflrffl that they have cownplled with the requlremenls of section 17 of the Charities Act
2011 lo have due regard lo the public benefil guidanc8 published by the Chsrily Commission for
England and Wales.
Stru¢ture, gov•manc• and managom•nt
Naturo of gov•ming docum•nt
LymeArts Community Trust Limited 15 0 company Ilmilgd by guarantee governed by ils Memorandum
and Articles of Association. It is a regisl8r8d with the Charity Commission.
Recrultment and appolntment of trustees
Trustees are elected annually al the Annual General Meetr"ng. The Èxisting trustees have the KM)wèr to
COknOPt additional ITU51ees lo the board during the year until the foNowng Annual General Meeting,
where Ih&y may be rg-alected by Ih8 members. In 8ccord3nG9 With IhB articlgs of association, ong
third of lh8 trustees retire from lh6 oifice at Ihe Annual General Meeting and are eligible for the
ro-èleclon.
Indudlon and training of tru5tse5
New trustees undergo an orientation on their legal oblioations under charity and comp8ny18W, the
conlenl of the Articles of Assoclatw)n, the committee and declslon-making process, the buslness plan
and recent financial perforrnan￿ of the charity. During the inducbon they meet the employees and
other trustees. The Iruslees are encouraged to attend appropriate Bxlernal tralnlng events where
thesé will faciti'late the undertaking of their role.
There y¥ere s&veral changes to the Board of Trustees during the financial year., curronl board
continues to have a wide range of skill s•ts.
Page 4

LymeArts Comrnunity Trust Llmited
Trustees. Report
Statement of trustè•$' r*$pon$lb51iti&s
The trustees (who are also the directors of LymeArts Community Trust Limited fof Ihfr purposes of
company lawl ar8 responsible for preparing the trustees, report and the finan¢ial statements in
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom
Generally Accepted Accounting Practice). includlng FRS 102 'The Financial Reporling Standard
applicabb In the UK and Republlc of Ireland".
Company law requlres the trustees lo preparè Iln8n¢lal slatemgnls for each fin2nclal year. Under
company law the trustees musl not approve the financial statements unless they are Satisfied that
they giva a twe and lair view of the slate of affairs of Ihg charitable ￿rnpanY and of the incomlng
resources and application of resourcès, in¢lLJding its Incomè and expenditure, of the ch8rttsble
company for that period. In preparing ihese financial statements, the tNstees ar8 requlred lo..
select suitable accounting policies and appty them consistently.,
observe the Fnethods and principles in th& Ch8rities SORP.,
makejudgemenls and èstimates that are reasonablo and prudent-
stsle whether applicable accounting standards, comprising FRS 102 have been folkiwed, subject
to any material departures disclosed and explained in the financial stslemenls; and
prepa￿ the financial statements on the going cOn￿M ba￿$ unless it is inapproprbate to p￿suMe
that the ch8rrtable company wll continue in business.
Th6 tru$tg9s are ￿spOnsible for keeping proper accounting records that can disclose with reasonable
accuracy at any tITne the financial posib'on of th8 charitable company 8rHJ enable thgm to ensure that
the financial slatemenls comply with the Companies 2006. They are also responsible for
saf8guar(ling the assets of the charitable company and hence for tsking reasonable steps for the
prtrvenlion and d81ection of fraud and olh9r Srregularflies.
The tru512es are responsible for the mainlènance and int8grily of the corporate and financial
information includèd on the chantable cornpanls website. Legislation goveming the preparati￿ and
dissemination of flnancial statements may drffer from legislation in otherjurisdiclions.
The dnnual report was approved by tha trustee$ of th8 charity on
bÉha
and signed on its
Chai
n 8nd trustee
Pagg 5

LymeArts Community Trust Limited
Independent Examlnerfs Report to the trustees of LymeArts Communlty Trust
Limited (Ihe Compan￿)
I rgport to the charity trustees on my examin8tion of the accounts of the Company for the endgd
31 December 2023.
Responslbilitios and bas1$ of rnport
As tht charity's truslees of the Company land also its directors for the purposes of company law) you
are respDnsiblè for Ihè preparation of the accounts in accordance wlh the requirements of the
Companses Act 20061'the 2006 Act'l.
Having satisfied myself that the accoun15 of the Cownpany are not required lo be audited under Part
16 of the 2006 Acl and aw 8ligitrAe for indewndent examination, I rèport in respect of my examination
of your ¢harily'$ a¢counts as ￿rrIed out under section 145 of Ihe Charlles Act 2011 {Ih8 2011 Act'i.
In ca￿ng out my exarnination I have followed the Directions given by the Charity Commission und8r
seclSon 145I511bl of thg 2011 Act.
Indopend•nt examlngfs $tstgm•nt
Slnce thg Companls gross income exceeded £2SO,000 your examiner musl be a member of a b¢)dy
listed in section 145 of the 2011 Act. I confirm that l am qualffied lo undertaka the examinatson
because l am a momber of ICAEW which is one of the Ilsled bodies.
I have completed my examinallon. I ￿nfIrM that no matters have corne lo rny attention in connection
wilh the examination giving me causo to beli¥vg:
1. aclounting records were not k$pt in respect of Lym&Arts Community Trust Limited as required
by section 386 of th8 2006 Act. or
2. the aGcounts do not aco?rd with those records,- or
3. the accounis do not comply with the accounting fequirements of section ￿ of the 2006 Act
other than any requirement that the accounts 9ive a 'true and fair which is not a matter
onsidèred as part of an ind8p8ndent examination.. or
4. the accounts have not been prepared in accordance wtth the methods and prlnciples of the
Statement of Recornmended Practice for ac¢ounting and repoffjry by Chariti￿ lappllcable lo
charities preparing thelr accounts in accordance witti the Financial Reporting Stand8rd
applicable in the UK and Republic of Ireland IFRS 10211.
I have no concerns and have come across no other maltern in connection with 1he exaMin8tion to
which attenlbon should be dmwn in Ihls report in or(ler to enable a proper understanding of the
accounts to be reached.
Mr T Stuckey FCCA (
For and on behalf of Westcotts (SWI LLP
Timbedy
South Street
Axmin8tsr
Devon
EX13 SAO
Pag& 6

LymeArts Community Trust Llmlted
Statement of Financlal Actlvlties for the Year Ended 31 December 2023
{Includlng Income and Expendlture Account and Statament of Total
Recognised Gains and Losses)
Unrestrfthd
funds
Rgstrlctgd
fvnds
Total
2023
Total
2022
N4)ts
Incr•m• and Endowm•nty from:
Oonations and le98cies
charitab￿ activities
Other tr&Jing activlties
Investment income
41.772
273.426
160,530
3,777
41,432
83,204
273,426
160,530
3,777
91.743
199,854
184,822
869
Total ilicome
479.505
41,432
520,937
477.288
Ex￿ndItUr• on:
Raising funds
Charitab5e activities
151,2E11
{439,2351
151,261
1457.307)
157.2841
{378,825
18.072
Totsl expenditure
490,4961
18,072
5D8,568
436.109
Net (expenditureyinwme
Net movement in funds
110,991
23,360
12.369
41,179
110,9911
23.360
12.369
41,179
Reconclllation of funds
Total funds brought fomard
Total funds c8rrr8d fovward 18
504.748
134,422
639,17D
597,991
493.757
157,782
651,539
639,170
All of the charitys actlvilies derivè from continuing operalk>ns during the above tsvo perN)ds.
The funds b￿akdOWn for 2022 is shown in nolg 18.
The nolos on pages 10 to 21 form an integral part of these financlal statements.
P8g8 7

LymeArts Communlty Trust Limited
(Reglstration number: 04654247)
Balanc8 Shoot as at 31 Dècember 2023
2023
2022
Fix¢d a$s•ts
Tangitle assets
Investments
13
14
408,254
416.892
408,256
416.894
Curront assets
Stocks
Debtors
Cash at bank and in hand
15
16
800
26,108
259,254
286,162
1,500
20.607
239,619
2e1,726
Crgdltors- Amounts falllng du• wlthln on• year
17
42,8791
N•t Current assets
243.283
222,276
Net a¥sets
651,539
639,170
Funds ol thè charlty:
Restricted rn¢omè funds
Rastricted funds
157,782
134,422
Unrestrictsd Income funds
Unrestricted funds
493,757
504,748
Tol41 funds
18
651,539
639,170
For th& financial year 8nding 31 Dècember 2023 the chority was entitled to èxemplion from audit
under section 477 of the Companle$ Act 20￿ ro18ting to small companies.
Dlr¢ctors' responsibllitlas..
The members have not required the charity lo obtain an audit of ils accounts for the year in
queslion in accordar5ce ￿th Section 476; and
The directors acknowledge their responsibilities for complwng wlth Ihe requirements of the Act with
res￿1 to accounting records and the preparation of accounls.
The financl81 slatements on pages 7 10 21 were approved by the trustees. and authorised for issue on
and signed on their behalf b￿.
und
an and trustee
The notes on pages 10 to 21 fom an integral part of these financial statements.
Pag6 8

LymeArts Communlty Trust Llmlted
Statement of Cash Flows for the Year Ended 31 December 2023
2023
2022
Not
Cash flows from operating actlvltles
Net cash income
12,369
41,179
Adjustments to cash flow8 from nonrfash Items
Depreciation
Investment Income
16,636
13,77TI
25.228
16,401
S6,711
Working capltal adjustments
Decreasellincreas81 in stocks
Increase in debtors
Increaselldecreasg) in creditOT8
Nat cash Ilows from op8ratiNJ aclivtties
Cash flows from Invèstlng actl¥iti•8
Inlerest receivable and similar incom8
PurGhase of tangible flx8d assets
Nel cash flows from investing activities
Net increase in cash and cash equlvalents
Cash and cash equivalents at 1 Janu8ry
Cash and cash equiva18nls al 31 Decembgr
1S
16
17
700
{5,5011
3,429
(1,2001
112,6631
12,047
23,856
30.801
3.777
17,9981
869
124.4671
23,598
13
14,2211
19,635
7,203
239.619
232.416
259.254
239,619
All of ¢88h flows 8re derived from conlnuin9 operations duTlng the aljove Iwo periryjs.
The note8 on pages 10 10 21 fom an integral part of these financial ststements.
Page 9

LymeArts Community Trust Llmlted
Notes to the Financlal Statements for the Year Ended 31 December 2023
1 Charlty status
Th¢ charity is limited by guarantae. incorporated in Englan(J & Wales. and consequenlly d085 not
have share capital. Each of the Iruslee8 is liable ttr contribute an amount not 8xceèding £1 towards
the assats of the charity In the event of liquidation.
The addws of its regislered office is..
Timberly
South Street
Axminster
Devon
EX13 SAD
2 Accounting pollclos
Summary ot significant accountlng poll¢l•$ and kèy accounting èstlmat•s
The principal accounting poli￿8$ appl￿ in the preparai'on of these financial stsl8ments are set out
below. These pollcles have begn conslstanlly appll8d lo all the ye8rs prosgnled, unless otheTwIsg
stsled.
statement of compllance
The financial statements have been prepared in accordance vAth Accountin9 and Reporting by
char￿e$.. Statement of Recommended Practice {appli¢ablè lo ¢harities preparing their accounts in
accordance with Ihe Flnanclal Reporting Standard applicabl6 in th8 UK and Republlc of Ireland IFRS
10211 (issued in Octobar 20191- (Charltles SORP IFRS 102)). the Flnancial Reporting Standard
applicabk in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006.
Basis of preparation
LyrneArts Community Trust Limitèd meets the definition of a public benefft entity under FRS 102.
Assets and Ilablllttes are Inrtlally rgcognlsed at hlstorical cost or transaction value unless oth8rwls8
stsled In the r8levant accounliF)9 ￿lleY nolas.
Golng concern
The trustees conslder that there ar8 no material uncertalnlles about thfj ¢haril¥s ability to continue as
a going concern nor any significant areas of uncertainty that affect the Carr￿ng value of assets held by
thg chanty.
Page 10

LymeArts Community Trust Llmlted
Notes to Ihe Financlal Statements for the Year Ended 31 December 2023
Judgèm•nts and key sources Df •stlmatlon uncertainty
The prep8ralion of the linan¢ial stslemenls requires management to makojudgemon15, estimates and
assumptions that affect the amounts Teported. These esllmales and judgements are conunually
reviewed and are based on experience and other factors, indudlng expectations of future events that
are believed lo be reasonable under the circumstances.
A￿aUntIng eslimales and assumw'ons are made (y)n¢eming the future and. by their nature, wll rarely
equal the reL91ed actual outcome.
Income and endowrnents
AJI incorna is recognisod once the charity h8S 8nfftlemgnt lo the incomè, it is probable thal the Incomg
will recelved and the amount Df the incom8 re¢e5vable can bo measured reliably.
Donatlons and bgaci•s
Donations are r8¢ognised when the charity has beèn notified in writing of both the amount and
settlement dale. In the avant that a donallon is sublect to condlllons that requira a level of
performance by thg tharity before the charity is èntiugd lo the funds, the income is deferred and not
recognised unlll ellher th058 condltions are fully met, or the fumlment of those conditlons is wholly
within the control of the charity and it is probable that thosa condition$ wlll be mfill￿ in the reportlng
period.
Grants rncolvable
Grants are recognised when the charity has an enb'llernent to the fijnds and any conditions linked tr)
the grants have beèn met. Where pèrformance conditions are attaehed to the grant and are yet lo be
mel, the income is recognised as a liabilty and induded on the balan￿ sheet as deferred incom8 10
be releasod.
Investm8nt Income
Dividends a￿ ￿cOgnIs¥ll once the dlvidend has been declared and not￿l¢all0Th has been rerA*ivert of
thè diviLlend due.
Expondlture
l expenditurè ts recognlsed once there Is a legal or constructlve obligatlon lo that expendituré, it 19
probable settlement Is required and the amount can be measured reliably. AJI costs are allocaled lo
the applicable expenditure heading that aggregate similar cosb lo that category. Where cosls cannol
be directly attribulgd lo parbcular headings Ihoy have been allocated on a basis wnslslent with the
use of reSoUr￿s. wtth central staff Gosls allocaled on the basis of lime spent. and depreciation
charges allocated on th& porti(M) of the asset's use. Other support Costs are 811ocatg(I b88ed on the
5preBd of stsff ¢)JSts.
Raislng fundg
Thaso arg costs incurr8d in attracting voluntsry Inwme, th8 management of inv8sknwnts and those
incurred in trading activities Ihal raise funds.
Charltable actlvl¢l•s
charitab￿ expenditure comprises those costs incurred by the charity in tha delivery of its aCtivi￿e$
and services tor its benefici8ries. 11 includes both Costs that can be allocated direclty lo such activities
and thosè costs of an indir8ct nature necessary lo support tham.
Page 11

LymeArts Community Trust Limited
Notes to the Financial Statemonts for the Year Ended 31 December 2023
Support costs
Support Costs include central ftjnctlons aTrJ have been allocated to activity ¢osl categories on a basis
consistent with the use of resources. f¢N example, allocating property costs by floor areas, or per
capita, staff costs by the tirne spent and other casls by their usage.
Gov•rnm•nt grants
GDvernm•nt grants are recognised based on the accwal mcKl81 aThJ are measured at the falr value of
the asset recEived or receNable. Grants are classified as relaling either to revenue or to assets.
Grants ￿lating to revenue are re¢ognlsed In income over the period in which the relat￿ cosls are
recognised. Grants relating to assets are recognised ovar the expected useful life of the asset. Where
part of a grant relating to an assèt is dèlerr8d, it is ré¢ognised as deferred income.
Taxalion
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of Ihe Finance Act 2010
and the￿fore it meets the definition of a charitable company for UK corporation lax purposes.
Acco￿1ngIy, th8 charity is potentially exempt from taxallon in rèspecl of income or capital galns
rec8ived within categories covered by Chapter 3 Part 11 ol the Corpor81ion Tax Acl 2010 or Section
256 of the Taxation of Charggable Gains Act 1992, lo the exlenl that such income ￿ gains are
applied ex¢lusively lo ¢h8ritsble putpose&
Tangiblè fixed assets
Indlvidual fixed assets costing £liJ).00 or morè arè initialty re￿rded al cost, 1888 any 8ub8equent
c¢uwnulaled depreciation and subsequent 8ccumulat8d impairment losses.
Depreclatlon and amortlsatlon
Depreciation is provided on ￿gible fixed assets so as lo write off the cost or valuation, less any
esb'mat¢d residual valuè, over Ihair expected useful ewnomic life as fdlows:
Asset class
Property improvements
Offic8 equipmenl
Dopr¢Glatlon method and rats
5% 51raight line
25% Straight lin
There is no charge for depreualion in respect of the freehold property, as the residual value b5
expected to ba at least equal to thg cost.
Fix•d asset investments
Fixed asset investments, other than programrne r818t8d investments. S￿ included al m8rket valu8 at
the balance sheet date. Realised gains and lossgs on investments are calculated as the differen
botween saltss proceeds an(J their market value al the start of the year. or their subsequent cost. and
arg charged or credited to Ihe Statement ol Financial Activilies in the period ol disposal.
Unrealised galns 8nd losses represent the movement sn market values durfng the year 8nd are
credited or charged to the Ststement of Flnanclal Acllvillos ba$gd on the market vabJ8 at the year end.
Page 12

Lymokn Community Trust Limited
Notes lo the Financlal Statements for the Year Ended 31 December 2023
Stock
Stock is valued al the lower of Cost and estimated selling pricè less costs to complete and sell. aft&r
due regard for obsolete and slow moving 51ocks. Cost is dotsrmined using the first-in, first-out (FIFO).
Cash and cash equlvalents
Cash and cash equival&nts ¢omprSse cash on hand and call dewsils, and other short-term highly
Ilquld Investmenlg that are readlly convertlble to a known amount of cash and are subject to an
Insignifi￿nE risk of change in value.
Fund structure
Unrestricted income funds are general funds that are availabl8 for use at the trustees dlscrolion in
furtherance of the objectives of the Bharity.
Rèslricled income lunds arg thosg donated for Ltse a particular area or for spec4fic purpos8S, thg
use of which is restricted lo that 8rea or purpose.
Financlal In$trumont$
Classifieatlon
Financial assets and financial liabiltties are recognised when the chariiy bacomes a party to the
contractual provisions of the Instrument.
Financial liAbililies and equity inslwments ar¢ c18ssified according to the substance of the contractual
arrangements enl8red into. An equity instrument is any contract that evidences a residual interest In
the assets of the charity after deducllng all of its liabilit￿s.
Recognltlon and measurement
All financial assets and liabilities are inthally measurèd at transaction price (including trans8Ction
costs), except for those financial assets dassified as al fair value through profit or loss. which are
Ii)Ili&illy rTl885ured at falr value Iwhich is normally the tr8nsacts.on price oxduding transaction coslsl.
Lrnles5 Ihe arrangement constttules a financing Iransaclion. If An ￿rran0$m￿NI conslilules a financing
transaction. the financial asset or financial liability is measured at the present value of the future
payments discounted al a martoet rate ol interost for a slmilar debt instrument.
Fin4nGial assets and Ilabililies are only off8èt in the statement of financial position when. and only
when th8r8 exists a18gally enforc8able right to sel off the re¢ognised amounts and th& charity intsnds
ellhèr to settle on a net basis, or to realisB the asset ond settle the liability simultsneously.
Financial assets are ￿e￿cOgnIsed when and only when al the contractual rights to the cash flows
from Ihe financial asset expira or are settled, bl the tharity transfers to another party subslanlially all
of the risks and ￿WardS of tswnership of the financial asset. or cl the charity, despite having retained
some, bul nol all. significant risks and rewards of ownership, has transferred control of the asset lo
another paity.
Financial liabilrties ara derecognised only when the obli98tion specified in the contract is discharged,
cancelled or explres.
Page 13

LymeArts Community Trust Limited
Notes lo the Flnanclal Statemgnts for the Year Ended 31 December 2023
Investm•nls
Investments in nonaconvertible preference sha￿$ and non-puttable ordln8ry or preference shares
Iwhere shares are publidy traded or thelr falr value is reliably measurable) are measured al falr Wdlue
through profrt or IDSS. whe￿ fair valuè cannot be measured reliabty, investments are measured at
cost less impairnenl.
Investments in subsidiaries and associgles are measured at cc>sl less impairment. For Invèstments In
subsidiaries acffjuired for consideration induding the issu8 of shares qualifying for merger relief, cost
s MeaS￿red by reference to ihe nominal value of Ihe shares issued plu5 fair walue of other
on$id9ralion. Any premlum Ss ignorod.
3 In¢omo from donatlons and l•gacl•s
Unr05trf¢t¥d
funds
General
Total
2023
funds
DonatiorTrs ar￿1998¢10$.'
)peaLs and donations
Friends membership
Grants, including capital grants-,
Dorset Counc41
Lyme Regis Town Council
Backstage Trust
Garfield Weston
2,681
5,841
7,032
9.713
5.841
11,250
22,000
9.400
20.650
22,(X)O
15.000
10.000
15.000
10,000
41,772
41,432
83,204
Unre8trict•d
funds
General
Restricted
funds
Total
2022
Donations and legacies.,
AppeaL8 and donations
Friends rnembership
Grants. including capital grants,.
UK Government gfdnts
Dorset Council
Arts Council
Lyme Regis Town Coulldl
Nallonal Lottery
8,￿5
3.632
6.905
3,632
2,867
11,250
31.289
22.000
2,667
13,750
32,789
22,000
10,000
2,$00
1,500
10,000
77,743
14.000
91,743
Page 14

LymeArts Communlty Trust Limited
Notes to the Flnancial Statoments for the Year Ended 31 December 2023
4 Incom& from charitable actlviti•s
Unr•slrl¢led
funds
Gen9ral
Totsl
2023
Tolal
2022
Theatre hire
Thgatre events
Youth Ihe8tre income
10,489
242,121
20,816
273,426
10,489
242.121
20,816
20.861
169,577
9.416
273,426
199.854
S Incom• from othor tr4dlng a¢tlvltles
Unrestricl•d
lunds
General
Total
fund$
Total
2022
Bar and coffe6 sales
Weddings
Sponsorshlp
Brochure adverti￿r￿j
133,200
21,170
2,000
4,160
133,200
21.170
2.000
4,160
130.476
49,436
2.000
2.910
160,530
160,530
184,822
6 Investment Income
Unrestrlded
funds
Ggnor81
Totsl
2023
Total
2022
Bank interest f8c8ivable
3,777
3,777
869
7 Expenditur• on raising fund$
al Costs of tradlng actlvtties
Unr8$trlcted
lund$
G•n•ral
Total
2023
Total
2022
Costs of goods sold
51,261
51,261
51,261
51,261
57.284
57,284
Page 15

LymeArts Community Trust Llmlted
Notss to the Flnanclal Statements for the Year Ended 31 December 2023
8 Expgndlture on charltabl¢ actlvltles
Activity
undertak*n
dir•cty
Support
costs
2023
2022
DI￿¢t costs
435,299
22,008
457.307
378,825
9 Analysis of $upporl costs
Unrestrfcted
fund$
Gèn•ral
Total
2023
Tolal
2022
Adverbsing
Accountsncy fees
Bank charges
15,417
3.512
3,079
15.417
3,512
3,079
14,360
2,727
2,303
22,008
22,008
19.390
10 Not Incomlngloutgolng rosourc•s
Net incomlng r8sour¢es for the year Indude..
2023
2022
Daprecialion of langibb assols
16,636
16,401
11 Tru$to05 remun•ratlon and •xpons
No truslees, nor any persons conneetsd wth them, have recefive¢J 8ry r8muner8tlon from the charfty
during the year.
No trustees have re¢8lved any mimbursed expenses from tho t*arlty during Ihe year.
Page 16

LymeArts Community Trust Llmited
Notes lo thg Financial Statements for the Year Ended 31 December 2023
12 Staff costs
The aggregate payrol costs wern as follows=
2023
2022
Staff costs durlng the year were,.
Wage5 and salades
Soci81 security costs
158,745
7,502
157.129
1.846
166,247
158.975
The monthly average number of persons Ilncluding senior management I leadershlp team) employ8d
by Ihe charity during th& year expressed as full time equivalents was a$ follows..
2023
No
2022
No
Average headcount of employ9es
No empk)yee recerved emoluments of more than £60.000 durlng the ￿ar.
13 Tanglble fixed ass&ts
Land and
buildings
Furnlturg &
Property
equipm8nt improv•m•nt$
Total
Cost
At 1 January 2023
Additions
250,000
82.993
2.762
203,238
5.236
536,231
7.998
At 31 December 2023
250.000
85,755
208.474
544,229
Deprnciatlon
Al 1 January 2023
Charge for the year
Al 31 December 2023
69.884
6,212
49,455
10.424
119.339
16.636
76.096
59,879
135.975
Net b¢)ok valu•
At 31 December 2023
250,000
9,659
148,595
408,254
At 31 Decembor 2022
250,000
13.109
153,783
416,892
Pag8 17

LymeArts Communlty Trust Limited
Notes to the Flnancial Statements for the Year Ended 31 D•comber 2023
14 Fixed assot investments
2023
2022
Shares in group undertakings and parti(4paling intsrests
Shar•$ in group und•rtaklngs and partlelpatlng Intw•sls
Subsidlary
undgrtaking¥
Totsl
Cost
Al 1 January 2023
Al 31 Docember 2023
Not book valu•
At 310ocember 2023
Al 310￿mber 2022
15 stock
2023
2022
stocks
800
1,500
16 Debtors
2023
2022
Trade deblors
Prgpayments
other d8blors
25.804
304
19,077
261
1,269
26,108
20,607
17 Crodltors: am¢unts falllng duè wlthln ono year
2023
2022
Trade credttors
Other creditOf8
AccrLtals
38.365
1,355
3,159
42,879
36,558
2,892
39.450
Page 18

LymeArts Communlty Trust Llmlted
Notes to the Flnancial Statements for the Year Ended 31 December 2023
18 Funds
Balan￿ at 1
January
2023
Balance at
31 December
2023
Incomlng
rg$our¢o5
Resources
•xp•nd•d
Unre8trfctsd fund$
G•noral
General Funds
504,748
479,505
1490.496}
493.757
Rastrlrtgd funds
Property improvements
Senior5 Cultural
The Cinema Project
The DJ c￿rse
Play in a day
128,500
5,922
117,389
3,961
32,032
4,400
11,961)
32.032
4,400
5.000
15.0001
134.422
41,432
18.072)
157,782
Tolal funds
639.170
508,568
651.539
Balance at 1
January
2022
Balance at
31 De¢•mbèr
2022
Incomlng
resources
Rosoureas
expended
Unre$trlcted funds
Gener81
General Funds
462,752
463.288
{421,292}
504,748
Reslrtet•d lund$
Property Improvements
Seniors Cultural
135,239
4,000
10,000
14,000
{10,739)
4.0781
128,500
5,922
134.422
135,239
14,8171
Total fund8
597,991
477,288
436,109
639,170
Page 19

LyrneArts Community Trust Limlted
Notss to the Financial Statements for the Year Ended 31 December 2023
Pro
rov
ments:
These re5tricled funds are sp8cifically for Ihe purpose of thè e2Pital propety improvements to Ihe
Marine The8lre. Lyme Regis. the restricted expendlture on the reserve repres&nts Ihe liftlng
depreciation in relation to the restrictitsn on the capitsl axpanditura meeting spe¢lfic designalion of
g¥an15 received.
Senior5 Cultural..
The purpose of this grant 6$ Ir> facililalg a me8tup which involves an actlvity to combat IDnelines5 and
isolation in our elderfy Communities. 11 takes pkice rnonthly and lakos the form of a Tea Dan¢e and on
Sltemale months a group led singing Session. The séssions are filmed and a film has been produced
OV8r the lime that it has been running.
The CinemiPLOL
The Charity stsrted a bid to bring back cin8ma lo LyYn8 Regis, the funds r8isÈd will k spent on capital
expeftdl￿re for this purpose.
Th¢ DJ Cour$e'.
The restsicied funds are lo be spent on enhancing thè skills of Y¢￿ng a8piring or hobby DJS 80 they
can ba thè support acl on DJ nights held at the Marine Theatre, wh8r8 professional DJS perform. The
funds ar8 to b8 spent on the purchas8 of DJ eguipmenl and running of the course.
Pla
In
The monies received ale lo be sponl on the delivery of a course to children ￿ pupil premium. The
children devl88d a play and performed 8t the end of Ihe day lo Iheir parents. The grant received
cater8d lor a healthy meal aThJ sn4cks and the wurse was delivered by N¥0 Marine Theatre
professonal. tÈath&r and director.
Page 20

Lymekn Community Trust L5mited
Notes to the Financlal Statements for the Year Ended 31 December 2023
19 Analy81ts of not assèts b•tw••n funds
Total funds
at31
Doeember
2023
Unrostrlcted
nds
General
Restrlet¢d
funds
Tang￿￿ fixed assets
Fixed asset investments
Current assets
Current liatilities
293,503
114,751
408.254
243,131
42.879
43,031
286,162
42,879)
651,539
Total net assets
493.757
157,782
Totsl funds
4131
December
2022
unl￿trIcted
funds
G•naral
Restrf¢t•d
funds
TanglNe rtxod assets
Fixed ass8t Investm8nts
Current assets
Current liablllties
288.392
128.500
.416,892
255.804
39.450
5,922
261.726
139,450)
639,170
Totsl ngt a888t6
504,748
134.422
20 Relat•d party transactlon¥
There were reFated p8rty transact5ons Sn the year.
P•Je 21