**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 2024**
**FOR**
**NEW MILLS ART THEATRE LIMITED**
Mourne & Co 2 Meadow Close Whaley Bridge High Peak SK23 7BD
**NEW MILLS ART THEATRE LIMITED**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|2|
|**Independent Examiner's Report**||3||
|**Statement of Financial Activities**||4||
|**Balance Sheet**||5||
|**Notes to the Financial Statements**|6|to|10|
|**Detailed Statement of Financial Activities**|11|to|12|
**NEW MILLS ART THEATRE LIMITED**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024**
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 2024. 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).
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
The Theatre was hired out on 12 separate occasions during the year for various events, and is used on a weekly basis by a youth theatre group.
In February 2024, a complete overhaul of the stage rigging commenced; this project was completed in 2024/25.
## **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.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Company number**
05185107 (England and Wales)
## **Registered Charity number**
1108426
## **Registered office**
45 Union Road New Mills High Peak SK22 3EL
## **Trustees**
C Brown R D Hole (resigned 19/6/2023) P A Holt J T Barber Mrs B J Eaves D B Thompson J A Chase R B Hawkins (resigned 14/11/2023) N Peach (appointed 19/6/2023) Ms C M Bannister (appointed 19/6/2023)
## **Company Secretary**
D C Cooper
## **Independent Examiner**
Mourne & Co 2 Meadow Close Whaley Bridge High Peak SK23 7BD
Approved by order of the board of trustees on 11th December 2024 and signed on its behalf by:
Page 1
**NEW MILLS ART THEATRE LIMITED**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024**
P A Holt - Trustee
Page 2
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NEW MILLS ART THEATRE LIMITED**
## **Independent examiner's report to the trustees of New Mills Art Theatre Limited ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st March 2024.
## **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.
Timothy J Mourne FCA
Mourne & Co 2 Meadow Close Whaley Bridge High Peak SK23 7BD
11th December 2024
Page 3
**NEW MILLS ART THEATRE LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024**
|2024
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
5,264
**Charitable activities**
Theatre hire
23,146
Other trading activities
2
25,877
Other income
-
**Total**
54,287
**EXPENDITURE ON**
Raising funds
11,063
**Charitable activities**
Theatre hire
60,956
**Total**
72,019
**NET INCOME/(EXPENDITURE)**
(17,732)
**RECONCILIATION OF FUNDS**
Total funds brought forward
541,237
**TOTAL FUNDS CARRIED FORWARD**
523,505|2023
Total
funds
£
5,807
23,263
54,213
200|
|---|---|
||83,483|
||27,823
46,573|
||74,396|
||9,087
532,150|
||541,237|
The notes form part of these financial statements
Page 4
**NEW MILLS ART THEATRE LIMITED**
## **BALANCE SHEET 31ST MARCH 2024**
|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**|2024
Unrestricted
fund
£
475,363
3,516
7,507
44,410
55,433
(7,291)
48,142
523,505
523,505
523,505
523,505|2023
Total
funds
£
468,418
2,207
3,225
71,537
76,969
(4,150)
72,819
541,237
541,237
541,237
541,237|
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 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.
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 11th December 2024 and were signed on its behalf by:
P A Holt - Trustee
The notes form part of these financial statements
Page 5
**NEW MILLS ART THEATRE LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024**
## **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.
## **Hire purchase and leasing commitments**
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
Page 6
continued...
**NEW MILLS ART THEATRE LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024**
## **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
Other operating leases|2024
£
15,740
4,337
4,880
848
-
72
25,877
2024
£
17,521
5,600|2023
£
19,286
6,398
4,535
391
23,521
82|
|---|---|---|
|||54,213|
|||2023
£
16,322
1,500|
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31st March 2024 nor for the year ended 31st March 2023.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31st March 2024 nor for the year ended 31st March 2023.
## **5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
||Unrestricted|
|---|---|
||fund|
||£|
|**INCOME AND ENDOWMENTS FROM**||
|Donations and legacies|5,807|
|**Charitable activities**||
|Theatre hire|23,263|
|Other trading activities|54,213|
|Other income|200|
|**Total**|83,483|
|**EXPENDITURE ON**||
|Raising funds|27,823|
|**Charitable activities**||
|Theatre hire|46,573|
|**Total**|74,396|
|**NET INCOME**|9,087|
continued...
Page 7
**NEW MILLS ART THEATRE LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024**
## **5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
||Unrestricted|
|---|---|
||fund|
||£|
|**RECONCILIATION OF FUNDS**||
|Total funds brought forward|532,150|
|**TOTAL FUNDS CARRIED FORWARD**|541,237|
## **6. TANGIBLE FIXED ASSETS**
|Improvements
Long
to
leasehold
property
£
£
**COST**
At 1st April 2023
650,000
12,900
Additions
-
19,528
At 31st March 2024
650,000
32,428
**DEPRECIATION**
At 1st April 2023
208,000
2,554
Charge for year
13,000
1,681
At 31st March 2024
221,000
4,235
**NET BOOK VALUE**
At 31st March 2024
429,000
28,193
At 31st March 2023
442,000
10,346
**7.**
**STOCKS**
Stocks
**8.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Other debtors
VAT|Plant and
machinery
£
18,246
1,977
20,223
7,227
1,964
9,191
11,032
11,019|Fixtures
and
fittings
£
7,499
2,961
10,460
2,446
876
3,322
7,138
5,053
2024
£
3,516
2024
£
1,200
859
5,448
7,507|Totals
£
688,645
24,466|Totals
£
688,645
24,466|
|---|---|---|---|---|
||||713,111||
||||220,227
17,521||
||||237,748||
||||475,363||
||||468,418||
|||||2023
£
2,207|
|||||2023
£
800
169
2,256|
|||||3,225|
continued...
Page 8
**NEW MILLS ART THEATRE LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024**
|**9.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Other creditors
Accrued expenses
**10.**
**MOVEMENT IN FUNDS**
At 1.4.23
£
**Unrestricted funds**
General fund
541,237
**TOTAL FUNDS**
541,237
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
54,287
**TOTAL FUNDS**
54,287
**Comparatives for movement in funds**
At 1.4.22
£
**Unrestricted funds**
General fund
532,150
**TOTAL FUNDS**
532,150
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
83,483
**TOTAL FUNDS**
83,483|2024
2023
£
£
482
219
4,765
1,519
2,044
2,412
7,291
4,150
Net
movement
At
in funds
31.3.24
£
£
(17,732)
523,505
(17,732)
523,505
Resources
Movement
expended
in funds
£
£
(72,019)
(17,732)
(72,019)
(17,732)
Net
movement
At
in funds
31.3.23
£
£
9,087
541,237
9,087
541,237
Resources
Movement
expended
in funds
£
£
(74,396)
9,087
(74,396)
9,087|
|---|---|
continued...
Page 9
**NEW MILLS ART THEATRE LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024**
## **10. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.4.22
£
532,150
532,150|Net
movement
in funds
£
(8,645)
(8,645)|At
31.3.24
£
523,505|
|---|---|---|---|
||||523,505|
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|137,770|(146,415)|(8,645)|
|**TOTAL FUNDS**|137,770|(146,415)|(8,645)|
## **11. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31st March 2024.
Page 10
**NEW MILLS ART THEATRE LIMITED**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024**
||2024|2023|
|---|---|---|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Donations|5,264|5,172|
|Gift aid|-|635|
||5,264|5,807|
|**Other trading activities**|||
|Bar sales|15,740|19,286|
|Confectionery sales|4,337|6,398|
|Ice cream sales|4,880|4,535|
|Sundry receipts|848|391|
|Fundraising events|-|23,521|
|Coffee machine sales|72|82|
||25,877|54,213|
|**Charitable activities**|||
|Theatre hire|23,146|23,263|
|**Other income**|||
|Government grants|-|200|
|**Total incoming resources**|54,287|83,483|
|**EXPENDITURE**|||
|**Other trading activities**|||
|Opening stock|2,207|2,076|
|Bar purchases|7,366|10,371|
|Confectionery purchases|2,246|3,252|
|Ice cream purchases|2,760|2,058|
|Fundraising events|-|12,155|
|Coffee machine purchases|-|118|
|Closing stock|(3,516)|(2,207)|
||11,063|27,823|
|**Charitable activities**|||
|Rent|5,600|1,500|
|Rates and water|4,252|3,823|
|Insurance|3,895|2,160|
|Light and heat|7,691|7,817|
|Telephone|299|36|
|Postage and stationery|22|14|
|Advertising|1,690|925|
|Sundries|5,207|5,162|
|Building maintenance|10,929|6,962|
|Carried forward|39,585|28,399|
This page does not form part of the statutory financial statements
Page 11
**NEW MILLS ART THEATRE LIMITED**
|**DETAILED STATEMENT OF FINANCIAL ACTIVITIES**|||
|---|---|---|
|**FOR THE YEAR ENDED 31ST MARCH 2024**|||
||2024|2023|
||£|£|
|**Charitable activities**|||
|Brought forward|39,585|28,399|
|Licenses|180|145|
|Computer expenses|688|220|
|Website expenses|-|377|
|Professional fees|2,155|-|
|Depreciation - Land and buildings|13,000|13,000|
|Improvements to property|1,681|1,290|
|Plant and machinery|1,964|1,573|
|Fixtures and fittings|876|459|
||60,129|45,463|
|**Support costs**|||
|**Finance**|||
|Credit card charges|377|445|
|**Governance costs**|||
|Accountancy fees|450|665|
|Total resources expended|72,019|74,396|
|**Net (expenditure)/income**|(17,732)|9,087|
This page does not form part of the statutory financial statements
Page 12