**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:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. 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
4. 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...
Page 7
**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...
Page 8
**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...
Page 9
**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...
Page 10
**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.
Page 11
## **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
Page 12
## **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
Page 13