REGISTERED COMPANY NUMBER: 05185107 (England and Wales) REGISTERED CHARITY NUMBER: 1108426
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021
FOR
NEW MILLS ART THEATRE LIMITED (LIMITED BY GUARANTEE)
A.Allen & Son Limited 45 Union Road New Mills High Peak SK22 3EL
NEW MILLS ART THEATRE LIMITED (LIMITED BY GUARANTEE)
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | to | 6 |
| Notes to the Financial Statements | 7 | to | 11 |
| Detailed Statement of Financial Activities | 12 | to | 13 |
NEW MILLS ART THEATRE LIMITED (LIMITED BY GUARANTEE)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st March 2021. 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) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
To protect, maintain and preserve for the benefit and use of the public the building know as 'The Art Theatre', New Mills, High Peak.
To make available 'The Art Theatre' for use in the promotion, performance and rehearsal of theatre, opera, dance, music and related artistic disciplines and to use 'The Art Theatre' for the education of members of the public and groups within those disciplines.
Significant activities
'The Art Theatre' provides facilities for amateur and professional artists to develop by providing an environment in which this development can be undertaken.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
'The Art Theatre' was closed entirely during the year due to Covid-19.
It was financially supported during this time with grants from HPBC as an eligible business for Covid-19 support measures.
FINANCIAL REVIEW
Reserves policy
The trustees have established the level of reserves that the charity ought to have. Reserves are needed to bridge the funding gaps between spending on running costs to maintain the theatre and receiving resources through hire charges and ancillary trading activities.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Recruitment and appointment of new trustees
As set out in the Articles of Association there shall at all times be a minimum of three trustees. From the third Annual General Meeting onwards one third of the trustees or, if their number is not three or a multiple of three, the nearest to one third must retire from office.
No person other than a trustee retiring by rotation may be appointed a trustee at any general meeting unless they are recommended for re-election by the trustees or not less than fourteen nor more than thirty-five clear days before the date of the meeting, the Charity is given notice that is signed by a member entitled to vote at the meeting, states the members intention to propose the appointment of a person as trustee and is signed by the person who is to be proposed to show their willingness to be appointed.
All members who are entitled to receive notice of a general meeting must be given not less than seven nor more than twenty-eight clear days notice of any resolution to be out to the meeting to appoint a trustee other than a trustee who is to retire by rotation.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
05185107 (England and Wales)
Page 1
NEW MILLS ART THEATRE LIMITED (LIMITED BY GUARANTEE)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2021
Registered Charity number 1108426 Registered office 45 Union Road New Mills High Peak SK22 3EL Trustees C Brown R D Hole D Howe P A Holt J T Barber Mrs B J Eaves D B Thompson Company Secretary D C Cooper Independent Examiner Darren Cooper A.Allen & Son Limited 45 Union Road New Mills High Peak SK22 3EL
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 10th December 2021 and signed on its behalf by:
P A Holt - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NEW MILLS ART THEATRE LIMITED (LIMITED BY GUARANTEE)
Independent examiner's report to the trustees of New Mills Art Theatre Limited (Limited by Guarantee) ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st March 2021.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company 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 your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the 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:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts 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
-
the accounts 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 accounts to be reached.
Darren Cooper A.Allen & Son Limited 45 Union Road New Mills High Peak SK22 3EL
10th December 2021
Page 3
NEW MILLS ART THEATRE LIMITED (LIMITED BY GUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2021
| 2021 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 11,305 Charitable activities Theatre hire - Other trading activities 2 1,021 Other income 21,170 Total 33,496 EXPENDITURE ON Raising funds 903 Charitable activities Theatre hire 32,288 Total 33,191 NET INCOME/(EXPENDITURE) 305 RECONCILIATION OF FUNDS Total funds brought forward 528,276 TOTAL FUNDS CARRIED FORWARD 528,581 |
2020 Total funds £ 25,061 16,324 26,253 - 67,638 11,585 57,335 68,920 (1,282) 529,558 528,276 |
|---|---|
The notes form part of these financial statements
Page 4
NEW MILLS ART THEATRE LIMITED (LIMITED BY GUARANTEE)
BALANCE SHEET
31ST MARCH 2021
| Notes FIXED ASSETS Tangible assets 6 CURRENT ASSETS Stocks 7 Debtors 8 Cash at bank and in hand CREDITORS Amounts falling due within one year 9 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 10 Unrestricted funds TOTAL FUNDS |
2021 Unrestricted fund £ 490,386 1,030 2,542 37,460 41,032 (2,837) 38,195 528,581 528,581 528,581 528,581 |
2020 Total funds £ 497,418 1,933 1,198 31,833 34,964 (4,106) 30,858 528,276 528,276 528,276 528,276 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
Page 5
continued...
NEW MILLS ART THEATRE LIMITED (LIMITED BY GUARANTEE)
BALANCE SHEET - continued 31ST MARCH 2021
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 10th December 2021 and were signed on its behalf by:
P A Holt - Trustee
The notes form part of these financial statements
Page 6
NEW MILLS ART THEATRE LIMITED (LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 2% on cost Improvements to property - 10% on cost Plant and machinery - 20% on reducing balance, 10% on cost, 5% on cost and Straight line over 15 years Fixtures and fittings - 5% on cost
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
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NEW MILLS ART THEATRE LIMITED (LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2021
2. OTHER TRADING ACTIVITIES
| Bar sales Confectionery sales Ice cream sales Sundry receipts Fundraising events Coffee machine sales 3. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets 4. TRUSTEES' REMUNERATION AND BENEFITS |
2021 £ 29 159 - 833 - - 1,021 2021 £ 15,432 |
2020 £ 9,631 690 3,674 2,252 9,915 91 |
|---|---|---|
| 26,253 | ||
| 2020 £ 14,646 |
||
There were no trustees' remuneration or other benefits for the year ended 31st March 2021 nor for the year ended 31st March 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st March 2021 nor for the year ended 31st March 2020.
| 5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | |
|---|---|---|
| Unrestricted | ||
| fund | ||
| £ | ||
| INCOME AND ENDOWMENTS FROM | ||
| Donations and legacies | 25,061 | |
| Charitable activities | ||
| Theatre hire | 16,324 | |
| Other trading activities | 26,253 | |
| Total | 67,638 | |
| EXPENDITURE ON | ||
| Raising funds | 11,585 | |
| Charitable activities | ||
| Theatre hire | 57,335 | |
| Total | 68,920 | |
| NET INCOME/(EXPENDITURE) | (1,282) |
continued...
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NEW MILLS ART THEATRE LIMITED (LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2021
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 6. TANGIBLE FIXED ASSETS Improvements Long to leasehold property £ £ COST At 1st April 2020 650,000 3,160 Additions - - At 31st March 2021 650,000 3,160 DEPRECIATION At 1st April 2020 169,000 632 Charge for year 13,000 316 At 31st March 2021 182,000 948 NET BOOK VALUE At 31st March 2021 468,000 2,212 At 31st March 2020 481,000 2,528 7. STOCKS Stocks 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors VAT Prepayments |
Plant and machinery £ 9,846 8,400 18,246 2,490 1,586 4,076 14,170 7,356 |
Unrestricted fund £ 529,558 528,276 Fixtures and fittings Totals £ £ 7,499 670,505 - 8,400 7,499 678,905 965 173,087 530 15,432 1,495 188,519 6,004 490,386 6,534 497,418 2021 2020 £ £ 1,030 1,933 2021 2020 £ £ 1,249 333 1,293 - - 865 2,542 1,198 |
|---|---|---|
continued...
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NEW MILLS ART THEATRE LIMITED (LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2021
| 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors VAT Other creditors Accrued expenses 10. MOVEMENT IN FUNDS At 1.4.20 £ Unrestricted funds General fund 528,276 TOTAL FUNDS 528,276 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 33,496 TOTAL FUNDS 33,496 Comparatives for movement in funds At 1.4.19 £ Unrestricted funds General fund 529,558 TOTAL FUNDS 529,558 |
2021 2020 £ £ - 329 - 651 1,460 1,461 1,377 1,665 2,837 4,106 Net movement At in funds 31.3.21 £ £ 305 528,581 305 528,581 Resources Movement expended in funds £ £ (33,191) 305 (33,191) 305 Net movement At in funds 31.3.20 £ £ (1,282) 528,276 (1,282) 528,276 |
|---|---|
continued...
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NEW MILLS ART THEATRE LIMITED (LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2021
10. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 67,638 | (68,920) | (1,282) |
| TOTAL FUNDS | 67,638 | (68,920) | (1,282) |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.4.19 £ 529,558 529,558 |
Net movement in funds £ (977) (977) |
At 31.3.21 £ 528,581 |
|---|---|---|---|
| 528,581 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 101,134 | (102,111) | (977) |
| TOTAL FUNDS | 101,134 | (102,111) | (977) |
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st March 2021.
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NEW MILLS ART THEATRE LIMITED (LIMITED BY GUARANTEE)
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 11,305 | 25,061 |
| Other trading activities | ||
| Bar sales | 29 | 9,631 |
| Confectionery sales | 159 | 690 |
| Ice cream sales | - | 3,674 |
| Sundry receipts | 833 | 2,252 |
| Fundraising events | - | 9,915 |
| Coffee machine sales | - | 91 |
| 1,021 | 26,253 | |
| Charitable activities | ||
| Theatre hire | - | 16,324 |
| Other income | ||
| Government grants | 21,170 | - |
| Total incoming resources | 33,496 | 67,638 |
| EXPENDITURE | ||
| Other trading activities | ||
| Opening stock | 1,933 | 2,288 |
| Bar purchases | - | 4,066 |
| Confectionery purchases | - | 164 |
| Ice cream purchases | - | 1,188 |
| Fundraising events | - | 5,812 |
| Closing stock | (1,030) | (1,933) |
| 903 | 11,585 | |
| Charitable activities | ||
| Rates and water | 1,762 | 2,958 |
| Insurance | 2,488 | 2,501 |
| Light and heat | 3,682 | 6,346 |
| Telephone | 335 | 603 |
| Postage and stationery | - | 38 |
| Advertising | - | 391 |
| Sundries | 858 | 2,966 |
| Building maintenance | 1,166 | 21,887 |
| Legal and professional fees | 5,630 | - |
| Licenses | 70 | 70 |
| Computer expenses | 102 | 77 |
| Irrecoverable VAT | - | 4,169 |
| Carried forward | 16,093 | 42,006 |
This page does not form part of the statutory financial statements
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NEW MILLS ART THEATRE LIMITED (LIMITED BY GUARANTEE)
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Charitable activities | ||
| Brought forward | 16,093 | 42,006 |
| Depreciation - Land and buildings | 13,000 | 13,000 |
| Improvements to property | 316 | 316 |
| Plant and machinery | 1,586 | 755 |
| Fixtures and fittings | 530 | 575 |
| 31,525 | 56,652 | |
| Support costs | ||
| Finance | ||
| PayPal and EBay charges | 80 | - |
| Credit card charges | 183 | 68 |
| 263 | 68 | |
| Governance costs | ||
| Accountancy fees | 500 | 615 |
| Total resources expended | 33,191 | 68,920 |
| Net income/(expenditure) | 305 | (1,282) |
This page does not form part of the statutory financial statements
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