C<xnpany regtytrtit1 nlrftb 05234333 Ch¥ty re9traIK ftLKnbcr. 11 C6051 Frome Memorial Theatre Trust cc#npany knrt•d by 9an1••) Anftual Rwrt Finanu•l Stiwn•nts Ihe Yew End•d 29 F•bruwy 2024
Frome Memorial Theatre Tntst Cont•nts R•f•r•nc• A{knintrITrrn Det•ilJ Strategic Report TnMttts' Rekxy1 3to6 InOewMJenl ExwnirKf• R¢pJrt Slknn•nt of ActNib 8•knc• Sh••t St•ne of Cash Fkth? 10 11to20
From• M•morial Thtre Trust Reference and Administrative D•tails Charity R•gistrthn Numb•r 11 CO051 C¢)mp•ny R•gistralion Numb•r 05234333 The chjrtri is inwrFmted in Ewl•TrJ & W41•s. Mernorwl Thatr• Christchurch Street West From• Somer 8A11 1EB Ind¢p¢nd¢nt examlntr Mr C Weare 7a Kmg Str• Frcme Scynorset BA1118H Pag• 1
Fromg Memorial Theatre Trust Strategic Report for the Year Endgd 29 F•bruary 2024 The tru3t••s. vtho w• dir•ctry3 for the purposes of Ciynpary I. present their straiegi¢ repm f¢Y I year eThled 29 Febfu•ry 2024. ift WTih $414C C+Jnp•niN kt 21x6. Fin•nGi•l r•vi•w The Trustees thvays endoavour to hDhJ a r•ST lurKI bLrt. gNen that the cfgan1satl is run entirety by volunteers and rehes on sett- fur#JrMJ Ihrough donaticM)s and lur)d raiwg. th15 ts ollen drlfTrcuft to xhieve. H¢yVer. the Trusloe¥ have hx&•d io hohj 4 Gxh conbng•ncy in case cl unfrx•s••n wn•rg•ry •xp•nditur•. Th• charty rdies on gwrwated ixf friyn shm hirwgs to meet rts nKymal CWimrtmeAts. The strait¥¢ iewt VAS wwov•d by th• lJu•l••s af th• Grty 4 S•pt•mb•r 2024 and swjned i¢¥ behalf ty B O'connc Tfusiee P•Je 2
Frome Memorlal Theatre Trust Trust•e$' Report The tt•. who dYector5 for the purpow of Cwipany W. present amud report lowr wth the finanGwl statwnwti •udrtrys' r•wl cl th• chwrtth ctynpwry f(x the year ended 29 Febfuary 2024. Obi•GtiV•s and 4Gtiviti•s Oty•cts and aims Th• obJ'•cbv•5 ft>r vknich th• Frorne hlernorial Theatre Trust utablished irKILpJè retaining res1bdfy fo( Ihe $cessful mainlcnance ar ruming of lh• Mornorial Tratre and the ?di8cent Ass•mbty Rcoms ¥Mth ts car parking fxlitieg in order to vovxle these faciklS to lh• f•tI Frtyne Iho suffwndiw areas Ihe use by arKI lor th pWf(ymir wts. ObJKflv•s, strnt•gi•S •nd •divi¢i Our ¥isK>n IJ that Fr(The Idn0nd Theatre be recOgne as the wtwt•inrn•nt vwu• rcAs the SoulhwesL Our am is for I to d•v•lop rrto a sUStsrb1e iP8tre coMpX Ihat is fit for Jrpw and futureroofed. arKI maintavhryd by a tuu Gcynplwnwt of staff, majorty which •r• vOrbt•ff1. n's purpJ5e is to provid• •nlertainm•nt 4rbd mu#rfunclx)n•l 1¢9 ihe k¢al and w COMMUnrt in a venue vthich is a¢¢es5ibJe io alL We continue lo maintain our dedte of ar0d 200 volunt•ws io Dp•r•t• our v•nLXS, frcxn th• box offK•. 514rds. kiosk, mwtenwt arKI 8$3emtty rocn boc&in9 te& T aim is to contirbually upgrade wd maintain the Theatfe 1[a5uc1urn. qrwblir¥J us attract h¥h piofile lj hi9h qualily 4lt Ihe swne lrnc rcmainirvJ financi sustain•bl•: achiwiry a posr<rve Gathficy ••Eh wr irKI conttnumg to mairQain a r•A•rve of at leasl £35.000. TO k••p th• Th•• bcth cornphant and sate we are in the yocess ol Skxr#Jm9 f.76.995 M the above sta9e stfLthire of Theotre artd inlemal t)rkJngs of the stage. rlcludng steeknrjrk. hemp ws. pulleyj •nd •lectru. A totsl of £50,7C6 ty in¢lude(l in these fesulis •th Iho remaming £26.289 prqected lor 2024Q5. the ar W¢Jer remew the Theaire PLrt on a fum y••r ol p•rlormanc•s fuffilled all our ontrxlual oblvJn in lh• Ass•mbty Roorns. In total ther• 46 shm wilh (w 16.600 ck015 For Ihe 2023r24 ffiancial year É516.643 a n•t •xc•ss of incom• over expendrture of £38.14Jf. This has the Trust a healthy ush Wsiion c4 £135.375 arKI loial res•n¢•s of £174.484. The Theré's centerylry * on 20 Septejnber 2024 and, lo mvk iha. Ih•r• wiu b• • 'ng of • r ¢ommemoialJNt tsle pque alcmgsKlc Ihc orwaff1 Icrali)n St• tO9eiher with a fuiictKvi to celèbratè the 100 years it has be¢n in exutence tss wel as ccmmenong a ol events to c•l•brat• Iho Theatre and It's onwng plx• in th• fabfic of ILxal e. FurKlinq for the Trust is dfiv•n by incomé fr(xn event$ w ticket sales. bw and kKJsk salcs and rent Iccei¥d firjn Ilio hiro ol bolh the Ihee iho Ass•mbty Rooms. In •dditiDn to this th• Tntst recoi¥*d over £21.246 ffl donatit)ns tcAvards the rumiry and upkeep of the complex. Pw•3
Frome Memorial Theatre Trust Trustees. Report Frcffi• Memori Th••tr• Trust ccxnprises the Frcwne Mem Thee Ihe Aernbty Rooms. Frcm ihewe. the Trust prov¢$ ent•riair)mwt arKI • vamty of p•rf(yrning Xt for publK onJoymonL Th• Arntsty Rocyns provyJ• • v4id•-Trnging fxilty for SOG1 and theatrtrrelatad lunctions. 8 blwmorxy ceF)tre. 8 rarsal fa¢ty a ¢4YnThK lunc11 rc•rxn. The Amem Rocfns we •150 hirod for prwale functsJns. The trustses ¢(mfifm Ihai Ilw have c(Mnpld wth the rrfuirornonts of slan 17 { Iho crIS Ad 2011 to h•vo du• rwgard to the pubk benofit guidwK publisPd by the ChwTty cnm&I Ewl•nd •KI Wal Trust••s olfrc•r The Irustees offws s•Nr¥J during the yw WKI since th¢ year end 4$ follm.. Truslees" Mf H J Bafw. ChainT MrsSLEkn TGJSlew Rjp1¥y MDMc4S l B OThyY)or RJLiMs P Lin•s Structur•. gov•manG• and minag•m•nt Nalurn of gov•rning docum•nt From• M•monil Th•4tr• Trusl is a rogl•r? chanty and cornpany Iimrted by guarantee gc>vem•d by Mejnorandum Art1$ of ASsociWJn arKI. as at t Bace Sheet d&t•. hd 8 members. •nd •ppolnfrwii of trusfe TfUSt••s ar• •l•ct•d by th• Mwnb•rs ol th• Trusi at lh• Annual Gw•Tal VA•tsng. ih•r• must b• between S and 9 Irustees Vh must all be members of the charitable ccthpany wh recwf(ing ne trvstees the Bc4rd considers •ny specliSt skills no•d•d, conspjefing •ithor •xNtsng or of T) wh•n s••king FOl•nI carvJTrd410S C£j fullil c¥iiain rokns.. Tlwy wwkl ihon bo coosed. ¢ed and apred by the Man4nent c(*mrnitto•. P&Je 4
Frome Memorial Theatre Tt Trustees. Report Th• Bo•rd d Tru5t••s •tkninth th• ch•ry. The trustees h•ve exwnirbed the majw strateg. business and 9)eranal Iht ¢h•rrty afvj af• $'¥fd Ityot sW•m¥ ar• in plx• to Our volunl••fS Th? Tnjst 1$ involv•d in th• kxal c(Ynrnunty wd re5&5 on voluntary hel) Besmges bclh the profes$KJnal and ¢e$ and artists Ytho dffjplay thwr tab•n15 in th• Ih•atr•, ther• are arty 200 luntr5 Ilssrit wth st•warding r¥ents arKI porfomiances VAlh the ovefall nmrmng of the Trust arKI reduciry stgff costs io a mana9eab leveL The Trust extends its thkS to thè marhy vcaJntew3 WtK) help in the (Nerall runnity c4 the Vrfrnorwl Theatre Assembly Rcm%. Many ol Ihew volunleBrs w• busy 'lxhind th• sc•nes" ar their vKJrk Can go un.notKed. 11 is a testamerf to IheK that Ihe Thea ¢tInu to b• sh SLKc•sslul v•nu•. Il•ior and maft•gwt of thox rfsks Thé Trustees have a risk managejnent stfe9y c(ffiKrys' - an nUal review of the pnwal r¢ks and charly Ixcs. - the establ1s1nent of polKies, spt•ms •1 proc¢dLfH to mtsJ•te those risks identrfd •fflnual re¥, arvJ - th• vnplem•nlK>n ol proc•dures d•SbY to minffni or any F#xenli81 7)pxt ¢)n Ihe ¢harty sh0 those r¢ks m•tewle. vrk UTrdeen hgs id¢nlrfd th•t fir¢)1 sustairvlbiltty is the m4¢x k lof the charty. In hght ot IhN chnty rogullrty r•vw4fd its, av•d•bl• hquTrd tundi and k1 to ensure Ihat there ty suffiwnl workmg cayal. A of the non.ffflanC fitsks Wismg fityn fie. health 4rKI salcty of both porfrnrd wirfts l as th• man•q•m•nt ol p•rforming rights h•s been undertaken. TWe risk$ are mamged by enluriry the charty has rotrAJSt pcocedures pe iogethef regdhy Ir¥ining gNcn. as neccssary. lo volunlc¢rs In Ihc var% operknn41 areas. Siatement ol tru•le•s' responsibilities Th• truslms {Vh ¥• &so th• dir•ctors ol From• Memori81 Theatrn Tnjst for the purposes of ¢<mp8ny Iwl Jre responsible f¢y pre01v4 the trusiees. fepc and Ihe Iirwnckil slalcrncnts accor¥0 with appkablo Unled Kngdcrfn Accountmg Standath IUnrl•d Kirvjdom G•Mralty Accepted Accounting Practice) NKluding FRS 102 h¢ Financ1 Rw)rring Star¥Jard appkable In UK and Republic ol Irelan¢r. Cwipany k7w requires the tyusiees to Pfepafe financd sLltcments loi each finarKial yDar. Und company I the trystees must not 8Kirove the financial statements unless thty are sabsfd thai give a fai YV of sts1te of affais ol the Crrtable company and of tho incoming r•sourc•s arKI applicat crf r•rc•s. InCk1n9 iti incom• and •XP•ThitUr•. of th• ch¥it&b ¢(ynpgny fi¥ IheA perKl. In prep8ring these fmvtcial stOtvJnentS Ihe tru$tMs are require¢l to" 8•l•cl sutsbl• cn(m9 policios •xJ apply th¢m conlgnty. observe riwhods orwj in tt*¢ Chartlies SORP., Pw5
Frome Memorial Theatro Trust Tntstees. Report rnake juO3wnwrtS WKI estinate¥ that are reasMle and ptwJ¢ftL' stal• 4Fyk4bl• •ccounbry 4ndards. comprrsing FRS 102 habr bem f¢)kttJ. Subject to wy rnaterKql d¢p•1ures do¢k)sed and xpl•n•d m th• fin•nGi•l sithrn•nts: and pr¢piirc thc firwrKwl slatements th• goin9 corK•m ts.% unl•Js it li to pres•e th•t lh• cPwntable cnpanY will conlnue in bwness. The trust are for keeping prow XC¢untirg ie¢onts th•t dith• WTlh r••son•b KLurxy at any time the fmwcial PDsthn ol the chant7Jle c4ynpany and enab lo ensufe trk Ihe financ41 5tat•m•nts c(Thpty with th• Cc%np4ni•s Act 201%. They we also respwsitrJe for safeglrd1rlg the assets of the charrfable wnpany and htri¢e fc¥ 11¥4 rc&%on)kT steps lor th• pr¢vcntKm and d¢)toctiM ol IraLKI arKI othw irr•gulanti•5. Thg trusi••s w• r•spDnsibl• 14y th• rnaint•n4nc• and wrt•grty of tho corporate and fn•nu•l rf(Xmatl in¢kthd ¢)n chafiifA)k cornpany's *tbSlte. LeglaljOn gmrning th• pr•par•tiDn WKI di1swnYthn ol fanCl stsl•m•nls may drff•r IT1 lur1sdth. The qinnuol rewl apprDd by truste ol th• thwity 4 S•pt•mb•r 2024 arKI sign•d ¢Jn tts b•haff by.. Mr I IJ O'CMnor Page 6
Fr¢)me Memorial Theatre Tt Ind•pend•nt Exam inerfs Report to the tntstees of Frome Memorial Theatro Trust ('th• Compan} I repJrt to the chwty truste ry eXaMinatx of the xcowts of the C(xnpany fly th• y•ar •rKJ•d 29 Fcbfuary 2024. R•sponsibiliti•s and basis of r•port As th• Ghlrty's tnJst••s d th• Compwy l•rKI also it direclofs for purposes of ccmpany afe responsible the preparatxy) of Il a¢Unts m aGGofdarK• with th• r•quirwn•nts crf the Compwies Act 20C£ (the 2WS Ac¢'}. Haviw satisffftl rnyxm that Ihe Unts ol the Cfmpany are rKrt rwuir•d to b• aUrted urbder Part 16 01 lh• 2C4J6 Ad and ar• •bJibi• for ind•p•nd•nt •UmMat, I repo1 in respecl of my examination of YOLW chafity's accounts 83 Card under sekn)n 145 of Ihe Charths Aci 2011 1'th• 2011 Act'i. In carryin9 Oul my examinalK I hav• lolN•d th• D1r•Gtw1 grv•n by Ch¥Tty Commi$sw)n uTrJer l•ctx 145(5Mb) ol th• 201 l Acl. Indep¢ndtnt txamintrfs statement sin C(npanYs gro incom •xc••d•d £250.OW your exIn•r must a m•rber of a boty list•d in soctK+n 145 of the 2011 Act I cMfim Ihal I qu4rfbed to undtrtske examinatK because l am a member AFA MIPA. is ¢x• of th• It•d t%. I have ccnped my ex8m1natl. I confifm thai no rnatt•rt corm io my att•rrt in Carvti wrlh th• •Mir11 givir4 m• G•US• lo b•lith: 1. •ccourrtirbg r•cords w•r• rbot k•pl in r•sp•cl of From• Memorffjl There TnMt as requwed by Jection 386 of the 2( Atr. < 3. th• accounts do not c¢>nply wrth tm accountrq requrements of section 3% of Ihe 2006 Act other IW any requirweni ttwt #counts give a true and law 4thbGh A nc4 a rn consid•r•d as part of an irKlepend•rrt examinat1.. or 4. Ihe &Crs havo not b••n prep4r•d m KcordwK• with th• methods WKI prffiwles of the Stwemenl ol Rec<ffimende(I Prauice for xcountlw reFll by charrts [aFvk4bl• to charilics prcpamg IhcFr •ccounls in aCUfdanc• with th• Fan1 R¢portiNJ Stard applKabl• m the UK ar RepublK ol Ir¢lwd (FRS 102)]. •rns and hav• com• •crog3 no (thr matters m conneCn with th• •XaminatX to n should b• drnwffl in tha r•port in uder lo •1 a prow Vertdm9 of ihe reached. ac unts AFA MIPA 7• King Str••t Frcffi• SCnet BA11 18H 4 September 2(r24 Pw•7
Frome Memorial Theatro Tnmt Statement of Financial Activitie5 for the Year Ended 29 February 2024 (Including Income and Expendlture Account and Statement of Total Recognised Gains and Losses) Total 2024 Total 2023 IncoTh and Endowm•nts frnm: 29.667 533 488.443 29.667 $33 486.443 79.325 740 476.259 1.037 Charrt4bl• Kt[vrt% Oth•r trxlirvJ actrvrt Total Incun• 516.643 516.643 557.361 Exp¢ndttur¢ on: Raisir¥J fLmds Charrtabkn activit (340.157) (138.341) 1340.157) 138.341 (303,679) {135.610 T¢tal Expendrture Net inc 478.498 478.498 439.289 38.145 38,145 118.on N•t movornort In funds 38.145 38.145 118.on Re¢oncllatlon of funds Total fur¥Js brought Total furrfl• carrd torbvard 136.339 136.339 18.267 20 114.444 114484 136.339 All ty the charty's pxtrAs derfy Ircxn C(xulrvj op•r•tK>ns dunng lh• PWKXts. The fun¢JS bre&kd(yn for 2023 N $hvn in note 20. Th• noifA on pw 1110 20 integrnl pwt af thma financi•l iLkn•nls. PA9• 8
Frrme Memorial Theatre Tt
{RegistratSon number. 05234333)
Balanc• Sheet as at 29 February 2024
2024
2023
N¢t•
Fixéd asvts
Inl8ngiW aqlets
Tangle assets
13
14
712
27.519
73.9S3
73,963
28.231
Stocks
Debtc
Cash at bMk harKI
15
16
17
7.228
4.918
135.375
5.035
163.344
147.521
172 669
¢rediiof4: Amounts falllng dut wbthin on• y•ar
N•t CUfr•nt aBs•¢s
38.379
47.8201
109.142
124.849
Tot•1 as¥ets l¢s• curr¢nt liabiliti•¥
183.105
1 53.080
Creditovg: Amounts f•lling du¢ aft¢r mov¢ than ont year 19
8.621
16.741
174.484
136.339
Funds of th• Charity:
Unrestrlcled In¢om¢ lund•
174.484
136.339
Total funds
20
174484
136.339
For th• finar1 y•¥ •nding 29 F•brry 2024 ttt• charty wai ertr
Frome Memorfal Theatre Trust Statgmgnt of Cash Flows for the Year End•d 29 February 2024 2024 2023 Note Cash Ilows from op¢r•ting Xtiviti Net ca$h rtc#n• 38,145 118.072 Adjustments to ¢•sh I$ from non4uh iiw Depre¢tH AM¢)rti$atn 9.788 712 4.274 711 48.645 123.057 Worltlng c•pit•l •dJustm•nts Incroase In stocks IncroJse In debi+Js 15 16 18 (2.193) {6281 (9 91?) (3x1) 19.311 Net cash Ilrxs operatirY4 Cash flows from Investlng •ctlvlti•s Purchas• of tangkn fixed assets 3fa.912 139,099 14 (56.232) (30,148) Cash flow5 from financing activit R•paymMt d loans arKI borr(ythng5 Nel Ita$¢in<l$e m ¢ash cash wur¥Ws Cmh Gaih •qurvalmts ai 1 March .649 6.620 (27.969) 163.344 102.331 81.013 Cash cash equrvdents at 29 February 135.375 163.3d4 The notes on pages 11 to 20 f¢)rm an ¥Keqral pan (I these stat•m•nts. P10
Frome Memorial Theatre Trust Notes to the Financial Statements for the Year Ended 29 February 2024 1 Ch•iity st•tus Th• ch¥rity i¥ lirnrt•d by guar¥nt••. inccrpry•t•d in Engknd & Wth. •rKI CSeqnty do•s ncrt have share c•prtal. Erth of th• trusteej is hJbl• to C(tru an amount rbot exceedrg £1 CKI l¢y¥d$ lh¢ a1$ ol the charY In the evmt ol14uKIMX). Th? addresq ol rts regtstered offu ' . M•moNI Th•4ir• Chwchurch Street Wesi BA11 1EB 2 Accounting polici•s Summary of significant accounting polici•s and k•y accountlng •stimat•s The pfin¢oal x¢ountirq poks applied in the prepornlKyi of Ihese finarK471 siatements we set 0 belrjw. Thom polic have bom con$tenty appld lo al th• pr•s•nl•d. unl•s8 stat•d. Statement ol ¢¢)mpllan¢• Th• financ4Jl slat•m•nts hav• b••n pr•p•r•d in xcordwK• wh Accounting WKI R•wtYig by Charths" Stemen1 of Recornmded Prxtte 18ppIK)le lo Ch)rrt prepwrs thtyr •c¢ount$ aCcordCC wlh Ihc Financwl Rewxtirvj StwdJrd ¥pplK4iblc In Ihe UK Rcpubltc ol IrelarKI {FRS 102)) INiu•d in Octob•r 2019) - {Ch4rrtMs SORP {FRS 1021). th• Financial Rewting Standard •ppkable in UK Republic of Ireknnd IFRS 102) Compwies Aa 20C6. 8asi% of prnparation FrcKn• M•morid Th•4tr• Trust m••ts th• d•fmrUon of • publ benefit ejitty undèf FRS 102. Assets aThJ Iwtsilrtts are inrtially recc¥ntsed ai CO (w Ifcl) va8 unb8$5 otherw s•d in the relovwl xcounknng polw notes. In¢om• and endowments All incorne is r•cognised orK4 the chanty has •ntrtknné to the inccme. il ts probat4e that Ihe I be recertd KI Ihe •nOLmt of the Iorne Itvab Gan be measur•d relwbly. Donabons and l•g•ci•s tkywions we rwised when the chanty has beefi ncthd in of both th• nount •ttl•M• dai•. In th• •v•nt that a donati is SUbCl to conditTrMa that require a be of fiymance by the charty before the chanty entrtkd io the funds. tho Inr is d•f•rr•d and not nised untd either those corkyrtions are fijlly mèt or the fuifilment of t1$e ¢(dit3 ts wholly V•ithin ihe contrcq of the chanty WKI wobabk that the%e condlK)ns b• fulfilJ•d in th• rwrtw p11
From• M•morial Tatre Trust Notes to the Financial Statements for th• Yur End•d 29 February 2024 Granls are fecognised Ihe ¢harty h•$ #n •ntitlvTWrt to lh• ftjndi •rKI ¥ry conditions linked to tho grt% hJv• t••n m•L p•rforrn4rbc• condrtiDns are lached to the gwt ond we w io be m•t. th• rKcxn• li r•copnii•d •• • knts'ity and inded on the balartt sheet as deferr¢d IrwM to be releas. Exp•nditUf• All experdrtur• is recogni3 there ig J legal cw ¢strUCt¢ ()Iy#K)n lo ihat exwMrtur•. i ' ()Ie sett1trnI iequwed WKI Wn[nI b• m•asw•d rthbly. Al costs 4r• aat•d to tho appliGable experKlrturn he•ir9 that 4oJr•yl• iimilw costs to that category Whore cosh b• dw•cty attributed lo pwltular hedings Ihty have been alIced M 8 bo8 constyieni the LAe of (esour¢es. wrth ¢nlral siaff costs alltKatqd basH d tim• SF•nt, dwr•Gi•tbJn C•$ all¢x•tad on th• pOrtTr ol th• asset's uje. Other Swport costs we alkKaleAI based M tt spKoad ol staff costs. R•ising funds Th¢se w¢ ¢OSts •) #lr•¢tin9 w)hJrbt•fy rt(xii¢. Ihe n)4n4ern¢n( ol ¥Ctrn1• WKI I10 IrKurred in Irading thal r•Ao IwKI¥. cr•bI• •XPdrtUr• Gornpnms ttKW Costs incurr•d by th• chanty m th• d•lv•ry xtivitM• d servw for rts b)er$. ft includes both costs thai can be drf•xty to ttvrts Support costs Support LO$t$ Inde ¢éntral furttK#)S ¥MJ been 4kxated to Cost on 8 b& ¢51$1¢nt 1th the use of re%rceS, for expAnple allocjtinq property costs by lknr areas. per it& slaff coth by th• tim• sp•nt and oth•r costs by tlw usag•. Gov•manc• Gosts Th•s• irKILa• th• attritxrtabl• to th• ch•rty• cornplianc• con¥litutiwl and slatu rVIreMents. incjudiry wdrt. strate9¢ m•n•9tsn•nt and tru31e. meèM9S and re•nbUrd Gov•mrn•nt grants Govefr¥xent gnI$ a recognised based Ihè accru81 modèl and are me83ured at the fair value af tho 4s¥ot i¢coivod LX ie1Vable. Gfanl$ are Ch11td as rel*ty either to revenue Of lo assels. Grnnts r•l&tmg to rw•nu• ar• r•ccgnrf•d in incom• OV•f lh• P•r in whKh lh• r•lat•d costs ar• re¢i>3ntsed. Grt$ relating io assets are rectyjnised over the expected useful lrfe of th• •ss•t. part ot a grnra r•latfftg ta an ass•1 * d•t•rr•d. r•cognMd as d¥t•d mc4XM. Page 12
Frome Memorial Theatre Tt Notes to the Financial Statements for the Year Ended 29 February 2024 Taxation Th• Gh•rty is consid•r•d to Pas5 tho t•5tJ set out in Paragraph 1 Schedule 6 of Finance Act 2010 •r#J therefore it meets Ihe d¢finrtKir) of a chafltle rLYnpany fry UK tax purposes. Accordingly. li puienb•lly •xwnpt friyn taX•th in respect crf inCWit or ¢aprtal gaiiis received wiihin categories covered by Chapter 3 Pwt 11 of the CtxwratTrw T•x Ad 2010 or S•clJn 256 01 Ihe TaxalKn of CharyJvabl• Gains AGt 1992, to the •xl•nt th sh rwne Qf gam$ ¥e •pp5bed exckjsivety to chwitable purposes. Intanglblè asuts Intangible asws are swerj In th• Bnc• 5h••t at co¥1 l•is •ccumull vnp•rm•nt. TW 4rn wKxtis•d cm a 8traTrght line their estmaled useful bvEs. Amortisltion AmonisatTrM is provided M IntarvjI• fix•d as5•15 to vff• aff the cost. Igss estsnthd rnsidual v•lu•. c14r their expeded u3efiA econwir 8$ lolktrrt.. Asset cla Websrte costs Amortis•tion m•thod and rnt• 33.3¥# stra4ht line D•pr•ciation ind amortisati( Deprec41t1 is provided on taryt)le fixed assets $0 as ID wnte off lh• cost or valu•t1c. l•ss wy eslmaied re3KILwJ valLK. over thoir exwded LM•ful •conomi hfe as folim. Ass•t class FLKnrtur• equiwient Oepr¢¢l•tlon m•thOd and rat• 21Vh on cc4l Stock Siock is yak at ol cost and net mlisabl• v•lu•. Fund strn¢turn Unfestrbctod IrKome funds ar• gw•rd funds that ar• avl•blè lor •t ts trU0t8, (1ffjcret furth•ranc• of the ot4ects.ves of the charty. Pag• 13
Frome Memorial Theatre Tnmt Notes to the Financial Stattments for the Year Ended 29 Felxuary 2024 3 InGom• from donati and l•gaGi•S Unr••tr?¢t•d Totsl 2024 Total 2023 Genernl DDn•tsJns frcrn mdividu•ls Granis. indudir¥ 913nt¥: GOrent grants Gwt$ fr¢yn other Charrt 29.667 63.158 15.167 29.661 29.667 79.325 4 InGom• from Gharitabh •Gtivili• Unrnstrlct•d Total funds 533 $33 Tolal for 2024 533 533 Total for 2023 740 740 S Incom• from oth•r trading activiti Total 2024 Total 2023 G•n•r•l Tr&Jing icom•'. Sales of 9ocxJs wvic•s Event$ IrKiyr•". 8ar and kiosk sales Theatre rent recerv)l¢ 351.419 351,419 338.671 74 209 60.815 74.209 60.815 73.244 486.443 486.443 476.259 P•ge 14
Fr¢)me Memorial Theatre Trust Notes to the Financial Statements for tho Year Ended 29 February 2024 O Oth•r iOrn• InckKled m th Irne ts £NIl (2023.. £1.037> receNed wth rc9arrl io an jUr0Ce Gl•wn. 7 Expenditure on r•ising funds •) ¢fAts of tr•dkng a¢tlvltl•s fund5 Gentral Total funds Not• Costs of Sold 52.892 287.265 52.892 2B7,265 Total for 2024 340,157 340.157 Total for 2023 303.679 303.679 Total costs Exp•nditur• on Gharitabl• activiti•B Unrestrictod lunds G•neral Total funds Not¢ Support costs 130.995 6,091 130.995 6.091 Total for 2024 137.086 137,086 Total for 2023 134.068 134.C68 Totsl •xp•ndltur• In 8t*JilK)n to the expendtlurt above. th¢r¢ we ¥so govern1)n costs of £6.091 12023 - £5.557) whtli rolate dirocuy to charrfaNe tt. See rLite 9 for Iwlnef (kit4ts. Pw15
Frome Memorlal Theatre Trust Notes to tho Financial Statam•nts for the Year Ended 29 February 2024 g Anatysi$ 019ov¢man¢¢ •nd ¥upport costs GovemwK• cMts Unrestricted fund5 General Total lunds IndeperAent •xrAniner fees Exr4nination of stat•rne Legal fe•s 3.287 3.287 Total for 2024 6.091 6.091 Total for 2023 5.$57 5.557 10 TnMt•tt r•muneration and expons•s unng Ihe ytar. 11 Ind•pond•nt •xamln•rfs r•mun•ratk 2024 Tcrtal f••s charg•d by Ind•pnI Ex*nin•r in y•ar 3.282 12 Tax•tion Th• charty A a iogisit4&a charty and 18 trwelofe extsnpi frcln Pag• 16
From• M•morial Th•atr• Trust Notes to the Financial Statements for thg Ygar Endgd 29 F•bruary 2024 13 Int•nglble flxe(l •Mets intangible T41 Cost Al 1 March 2023 2,134 2134 At 29 Febru 2024 2.134 2.134 Amortisotion At 1 March 2023 Charg• ftx th• 1,422 712 1.422 712 At 29 Febfuw 2024 Net book v•lu• 2,134 2134 Al 29 februwy 2024 Al 28 Februwy 2023 712 712 14 T•nglbk •M¢iS Furnitur• and equipment Total Cost At 1 March 2023 Addition• 183.725 56.232 183,725 56,232 At 29 FebTUW 2(r24 D•prnci•tlon At 1 March 2023 Chw9e Ihe r At 29 F•bruary 2024 239.957 239.957 158.2C6 9.788 1&8,2 9.788 165.994 185.994 N•t Ixx>k valu• At 29 F•bfUary 2024 n.3 73.983 Al 28 FebThry 2023 2/.519 2r.519 15 Stock 2024 2023 Stock$ 7.228 5.035 Page 17
Frome Memorlal Theatre Tt Notes to the Financial Stat•m•nts for the Year Ended 29 February 2024 16 D¢btorS 2024 2023 CXhe( debt¢ 4.918 4.2 17 C•*h and c•¥h •quival•nts 2024 2023 ¢a•h hand Cjth •1 bar 2.800 132.575 160.884 135,375 163.344 11 Credltors: aftynts falllng du¢ withln on¢ y•¥ 2023 8.120 10.000 20.259 7.649 10.000 3D.171 Olh•r 38.379 47.820 Pap 18
Fromg M•morial Th•a Trust Notes to the Financial Statornonts for the Year End•d 29 February 2024 Qlhor borrowlrbg$ S(wnws•1 Communty Fund Lo•n cwytnq wnount of £16.741 (2023 - £24,390) is dennin81•y in £ with 8 rtyimir491 interest Wt of 6% 12023 . 6%). The ffflal Insialmeni is due on 1 February 2026. 19 Cr•ditorn: amounts f•ling du• after one ye•r 2024 2023 Other k•ns 8.621 16.741 20 Funds Balanc• at 29 F•bruary 2024 Baknnce at 1 2023 kncrxnin9 R¢sour¢ •xp•nd•d UnMtricied 136.339 516.Sd3 1478 498) 174.484 B•l•nc4 at 28 Febru4ry 2023 B•knnG• at 1 March 2022 Incoming R•sourc•s expend¢d Ger*rnl 18.267 s57.1 1439.289} 136.339 Pag• 19
From• Momorial Theatre Trust Notes to the Financial Statgments for the Year Ended 29 February 2024 21 Anatysls ol n•t US•ts b•tw••n funds Genernl Total fun¢ts T•ryibl• iTrxed assets Current assets Current &abiliis Cr•drtcn (v4•r 1 y• Tow nel 8Meis 73,963 147.521 (38.3791 8.621 73.3 147.521 (38.379) 8.621 174,484 174.484 Unr•strict•d Gener•1 Total fvnd• Intangib f•d ass413 Tangibl• ffix•d asM¢s Curr¢nl asscis Current Ibabilit Credrtors ow 1 yeaf Total 8SS¢ts 112 27.519 172.&89 {47.8201 16.741 712 27 $19 172.669 {47.820} 16.741 136.339 136,339 P•p• 20