Charity registration number 1109377 (England and Wales) Company registration number 05402388 THE ST IVES YOUTH THEATRE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
THE ST IVES YOUTH THEATRE LEGALAND ADMINISTRATIVE INFORMATION Trustees E Davis M Hirst J Maslerton P Pope Secretary M Hirst Charity number (England and Wales) 1109377 Company number 05402388 Registered office 1 st Floor Chapel House Chapel Lane Sl Ives Cambridgeshire PE27 7DX Independent examiner Kinnaird Hill Brunel House 1 Archers Court Huntingdon Cambridgeshire PE29 6XG Bankers Lloyds Bank PLC 6 Market Place Blandford Forum Dorsel DT11 7EE
THE ST IVES YOUTH THEATRE CONTENTS Page Truslees report Independent examinerfs report Slatement of financial activities Balance sheel Notes to the financial statements 6-15
THE ST IVES YOUTH THEATRE TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 AUGUST 2024 The truslees present their report and accounts for the year ended 31 August 2024. Sl Ives Youth Theatre. also referred to as SIYT. Charity registration number 1109377, Company registration number 05402388 (England and Wales). Principal and registered address being 1st Floor, Chapel House, Chapel Lane, Sl Ives, Cambridgeshire PE27 5DX. The accounts have been prepared in accordance with the accounting policies sel out in nole 1 to the accounts and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities." Slatement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) leffeclive 1 January 2019} Objectives and activities The charity's object is lo work with young people who are currently in secondary education or of that age, regardless of social background or specific ability, to develop drama and theatre skills. This enhancement of their formal education promotes skills in critical analysis and self-evalualion, allowing for development of inter- personal skills and self-awareness leading lo the growth of a well-rounded individual. In planning our activities for the year we kepl in mind the Charity Commissions guidance on public benefit, including the guidance on public benefit and fee charging. Sl Ives Youth Theatre relies on membership fees, grants, donations and the income from performances to cover 211 costs incurred. In setting the fees, charges and concessions, the trustees give careful consideration lo the accessibility of both Sl Ives Youth Theatre itself and slaged perforManS lo Ihose on low incomes. The focus of St Ives Youth Theatre activities is organised around stage productions that seek to challenge our members on a number of levels, providing opportunities for them lo develop inler-personal skills, self~awareness and evaluation. A by-product of this is lo provide the local community with an opportunity lo enjoy a broad range of theatrical entertainment and see young people in a posilive light. st Ives Youth Theatre is run on a solely volunteer basis. All trustees and helpers give of their time and abilities willingly. Wilhoul this group of people, the organisalion would not be able lo continue in ils present form. Achievements and performance 202312024 ha5 been a successful year.. Our annual family cabaret, devised and performed by the members. was very well supported, and we manage to raise a little money from our usual fvndraising games, but this year we introduced a 100 club and some of the "winnings" were donated back lo us. Our Spring show for 2024 saw a muGh overdue return lo Shakespeare. It had been 10 years SiTbce SIYT last performed something from the Bard and we were very much looking forward lo putting Shakespeare on again. A ex-member and great friend of SIYT - Peter Bottley, offered to adapt and direct a version of A Midsummer Night's Dream. As chair, I was keen lo get involved and assisted Peter with Direction and producing the show. We added an 80"s vibe lo our production, with costume and music from that decade. We had wonderful feedback from audiences. with some commenting that il was the best show they had seen u5 perform for a while. Our final 2 shows were sold out and we made a small profil. For our Summer show we had a newArtislic director and choreographerjoin the team, as we performed Di5ney'5 High School Musical IHSMI. HSM is a popular show and proved to be with both members parents, and the wider St Ives audience. Many have grown up with the original film and knowing all the songs. Performing at the Burgess Hall is always a challenge for us. as the cost associated with the venue are high, but il is the only local performing space substantial enough to allracl and be adequate for a larger audience. This did not detract from the enthusiasm thal our cast and crew had for this show., audiences enjoyed the singing and dancing. Our new NODA District 2 rep attended on the last performance, and we impressed him enough to recommend us for 2 awards- Best Musical Performance for our female lead and a Highly Commended Outstanding Youth Performance for our"Jack Scott" which were presented al the NODAAGM. September saw the beginning of our new season and we recruited another 12 new members, bringing our numbers up to over 40. We look forward to another great year in 2025.
THE ST IVES YOUTH THEATRE TRUSTEES REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 AUGUST 2024 Financial revlew Long term aim is to build up sufficient funds to allow for one years running costs, excluding special events such as the Edinburgh Fringe festival. This fund is Ihe prime recipient of all Gift Aid returns. Main funding comes from membership fees, grants, donations and advertising in our production programme5. Fundraising events are held to enhance the money available to present performances. We hold a small bursary fund to assist families, a maximum of 6, who would struggle to meet the monthly membership fee. Only three bursaries were applied for, and granted. during ihis financial year. Structure. governance and management The charity is a company limited by guarantee incorporated on 23rd March 2005 and registered as a charity on 9th May 2005. The company was established under a Memorandum of Association which established Ihe objects and powers of the charitable company and is governed by ils Articles of Association. There is a Child Proleclion policy in pla, with a nominated Child Protection representative. Disclosure and Barring Service (DBSI checks are carried oul on anyone coming into regular conlact with the student members. All trustees give their time volunlarily with no finanGial remuneration or other benefits. Trustees are appointed or reappointed at the Annual General Meeting. The trustees, and also directors who served during the year were= E Davis M Hirst J Masterton P Pope The Iruslees report was approved by the Board of Trustees. The trustee and director signing this report does so on behalf of the board of directors. M Hirst Trustee Dated-
THE ST IVES YOUTH THEATRE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ST IVES YOUTH THEATRE I report lo the trustees on my examination of the financial statements of The Sl Ives Youth Theatre Ilhe charity) for the year ended 31 August 2024. Responsibilities and basis of report As the trustees of the charity (and also ils directors for the purposes of company law). you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity's financial statements carried out under section 145 of Ihe Charilies Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515)Ib} of the Charities Acl 2011. Independent examiners statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect ol the charity as required by section 386 of Ihe Companies Act 2006. Ihe financial statements do not accord with those records., or the financial slalemenls do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requiremenl that the financial statements give a true and fair view, which is nol a maller considered as part of an independent examinalion., or the financial statements have not been prepared in accordan with the methods and principles of the Slalement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statement5 in accordance wilh the Financial Reporting blandard applicable in the UK and Republic of Ireland IFRS 1021. I have no concems and have come across no olher matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Kinnaird Hill Brunel House 1 Archers Court Huntingdon Cambridgeshire PE29 6XG Dale.. IL
THE ST IVES YOUTH THEATRE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 AUGUST 2024 Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Notes Income from: Donations and legacies Charilable activities Fund raising activities Investments 3,029 21.256 612 265 3,029 21,256 612 279 7.321 14.710 7,321 14.710 14 125 133 Total income 25.162 14 25,176 22,156 22,164 Expenditure on: Raising funds Charitable activities Other expenditure 223 25.387 178 223 26.414 178 1,027 25,689 104 4.477 30,166 104 13 Total expendlture 25.788 1,027 26,815 25,793 4.477 30,270 Net expenditurè (626) (1.013) (1,639) {3,637) (4.4691 (8,106) Transfers beeen funds 1273) 273 Net movement in funds 1899) (740) (1,639) (3,637) (4,4691 (8,106) Reconciliation of funds: Fund balances at 1 September 2023 26.528 1,394 27,922 30,165 5.863 36,028 Fund balances at 31 August 2024 25.629 654 26.283 26.528 1,394 27,922 The stalement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with Ihe requirements for an income and expenditure account under the Companies Act 2006. The notes on pages 6 to 15 form part oflhese financial statemenls.
THE ST IVES YOUTH THEATRE BALANCE SHEET ASAT31 AUGUST2024 2024 2023 Notes Fixed assets Tangible assets 14 2,695 4,039 Current assets Stocks Debtors Cash at bank and in hand 15 16 1.401 2,141 20.379 1.401 1,285 21,408 23.921 24,094 Creditors= amounts falling due within one year 17 {333) 1211) Nel current assets 23,588 23.883 Total assets less current liabilities 26,283 27.922 The funds of the charity Restricted income fvnds Unrestricted funds 20 654 25,629 1,394 26,528 26,283 27,922 The notes on pages 6 to 15 form part of these financial stalemenls. The company 15 entitled lo the exemption from the audit requirement contained in section 477 of the Companies Act 2006. for the year ended 31 August 2024. The directors acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of ils incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of ils financial slalements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject lo the small companies regime. The financi I statements were approved by the trustees on M Hirst Trustee Company registration number 05402388 (England and Wales)
THE ST IVES YOUTH THEATRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accounting policies Charity infonnation The St Ives Youth Theatre is a private company limited by guarantee incorporated in England and Wales. The registered office is 1 st Floor, Chapel House, Chapel Lane, St Ives, Cambridgeshire, PE27 7DX. 1.1 Accounting convention The accounts have been prepared in accordance with the charity's governing document, the Companies Act 2006 and -Accounling and Reporting by Charities.. Ststement of Recommended Praclice applicable to charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) leffeclive 1 January 20191. The charity is a Publi¢ Benefit Enity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial ststements are prepared in sterling, which is the functional currency of Ihe charity. Monetary amounts in these financial slatemenls are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving ihe accounts, the trustees have a reasonable expectalion that the charity has adequate resources lo continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the accounts. 1.3 Charilable funds Unreslricled funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subjecl to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes lo the financial statemenls. Endowment funds are subject to specific conditions by donors that the capital musl be maintained by the charity. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliabty, and it is probable thal income will be recetved. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending dislribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
THE ST IVES YOUTH THEATRE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Accounting policies (Continued) 1.5 Expenditure All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Vvhere costs cannot be directly attributed lo particular headings thay have been allocated to activiles on a basis consislenl with the use of the resources. Fundraising costs are those incurred in seeking voluntary contributions and do not include the cosls of disseminating information in support of expenditure on the objecls of the charity and include project management carried out at Headquarters. Management and administration costs are those incurred in connection with administration of the charity and compliance wtth conslitulional and statutory requirements. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Tangible fixed assets costing more than £1.000 are capilalised and included at cost including any incidental expenses of acquisition. Tangible fixed assets are staled al cost less depreciation. Depreciation is provided at rates calculated lo write off the cost less estimated residual value of each asset over ils expected useful life, as follows.. Fixtures, fittings & equipment 25 /0 straight line basis. The gain or loss arising on the disposal of an asset is determined as the difference belween the sale proceeds and the carrying value of the asset, and is recognised in the statemenl of financial activities. 1.7 Impairment of fixed assets At each reporting end dale, the charity review5 the Carrying amounts of its tangible assets to determine whether there is any indication that those assets h3ve suffered an impairment 105s. If any such indication exists. the recoverable amount of the asset is estimated in order lo determine the extent of the impairmenl loss (if any). 1.8 Stocks Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direcl materials and, where applicable. direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribulion at no or nominal consideration are measured the lower of replacement cost and cost. Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution. 1.9 Cash and cash equivalents Cash and cash equivalenls include cash in hand, deposits held at call with banks. other short-lerm liquid inveslmenls with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
THE ST IVES YOUTH THEATRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Accountlng pollcies (Continued) 1.10 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Olher Financial Instruments Issues. of FRS 102 lo all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes paty to the contraclual provisions of the inslrumenl. Financial assets and liabilities are offset. with the net amounts presented in the financial statements, when Ihere is a legally enforceable right lo set off the recognised amounts and there is an intention to sellle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried al amortised cost using the effective interest method unless the arrangement conslitules a financing transaction, where the transaction is measured at the present value of the future receipts discounled at a market rate of interest. Financial assels classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction. where the debt instrument is measured al the present Value of the fulure payments discounted at a market rale of interest. Financial liabililies classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabililies if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade credilors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of flnanclal liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. Critical accountlng estimates and judgemenls In the application of the charity's accounting policies, the trustees are required to make judgements. estimales and assumptions about the carrying amounl of assets and liabilities that are not readily apparent from other sources. The estimales and associated assumptions are based on hislorical experience and other factors that are considered to be relevanl. Aclual results may differ from these eslimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting eslimates are recognised in the period in which the eslimale is revised where the revision affects onSy thal period, or in the period of the revision and future periods where the revision affects both currenl and fulure periods.
THE ST IVES YOUTH THEATRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Income from charitable activities Unrestricted funds 2024 Unrestricted funds 2023 Production revenue Other miscellaneous income Membership fees 12.327 6,300 125 8,285 8,929 21,256 14,710 Income from fund raising activities Unrestricted Unrestricted funds funds 2024 2023 Fundraiaing events 612 Income from investments Unrestricted Restricted funds funds 2024 2024 Total unstrICted Restricted funds funds 2023 2023 Total 2024 2023 Interest receivable 265 14 279 125 133 Donations and legacles 2024 2023 Donations and gifts 3,029 7,321 Expenditure on raising funds Unrestricted Unrestricted funds funds 2024 2023 Fundraisin9 and publicity Seeking donations, grants and legacies 223
THE ST IVES YOUTH THEATRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Net movement in funds 2024 2023 The net movement in funds is stated after chargingl(crediting): Fees payable for the independent examination of the charity's financial statements Depreciation of owned tangible fixed assets 1,850 1.344 1,685 1,098 Charitable activitles Activities directly undertaken Support costs Total 2024 Totsl 2023 Depreciation and impairment Room Hire Production expenditure Workshop and tours Olher costs Bursaries Radio Mics 1,344 4,187 16,181 1,344 4,187 16.181 1,098 3.719 16,828 392 1,967 300 4,177 1,825 875 152 1,825 875 152 24.564 24.564 28,481 Share of governance costs (see note } 1,850 1,850 1,685 24.564 1,850 26,414 30.166 Governance costs includes payments to the accountants of £1.850 (2023 £1,685) for independent examination fees. 10 Trustees None of the trustees (or any peTsons connected with them) received any remuneration during the year. During the year there were no expenses reimbursed to truslees that relaled to them carrying out their duty as a trustee. 11 Employees The average monthly number of employees during the year was.. 2024 Number 2023 Number Total There were no employees whose annual remuneration was more than £60.000. 10-
THE ST IVES YOUTH THEATRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 12 Taxation The charity is exempi from taxation on ils activities because all its income is applied for charitable purposes. 13 Other Unrestricted Unrestricted funds fvnds 2024 2023 Financing costs other expenditure 165 13 178 91 13 104 14 Tangible fixed assets Fixtures, fittings & equipment Cost At 1 September 2023 9,514 At 31 August 2024 9,514 Depreciation and impaimient At 1 September 2023 Depreciation charged in the year 5,475 At 31 August 2024 6,819 Carrying amount Al 31 August 2024 2,695 Al 31 August 2023 4,039 15 Stocks 2024 2023 Finished goods and goods for resale 1,401 1.401 11
THE ST IVES YOUTH THEATRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 16 Debtors 2024 2023 Amounts falling due wlthln one year: Other debtors Prepayments and accrued income 451 1,690 656 629 2,141 1.285 17 Creditors: amounts falling due within one year 2024 2023 Trade creditors Other creditors Accruals and deferred income 211 25 308 333 211 18 Unrestricted funds The unreslricled funds of the charity comprise the unexpended balances of donations and granls which are not subject to specific conditions by donors and grantors as lo how they may be used. These include designated funds which have been set aside out of unreslriGled funds by the truslees for specific purposes. At1 September 2023 Incoming resources Resources expended Transfers At 31 August 2024 General funds 26.528 25,162 (25,7881 (273) 25,629 Previous year: At1 September 2022 Incoming resources Resources expended Transfers At 31 August 2023 General fund5 30,165 22,156 125.793) 26,528 12-
THE ST IVES YOUTH THEATRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 19 Analysis of net assets between funds Unrestricted funds 2024 Restricted funds 2024 Total 2024 At 31 August 2024: Tangible assets Current asselsllliabililiesl 2.695 22.934 2,695 23,588 654 25.629 654 26,283 Unrestricted funds 2023 Restricted funds 2023 Total 2023 At 31 August 2023: Tangible assets Current assetsllliabiSities} 4.039 22.489 4,039 23,883 1,394 26,528 1,394 27,922 13
THE ST IVES YOUTH THEATRE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 21 Events after the reporting date There were no post balance sheet events which affecled the financial statements. 22 Related party transactions Included in other creditors is an amount of £2512023 - £143 debtor) bursary owed lo the family of a trustee.