REGISTERED COMPANY NUMBER: 05124613 (England and Wales) REGISTERED CHARITY NUMBER: 1109381
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
FOR
THE ROPETACKLE CENTRE TRUST (A COMPANY LIMITED BY GUARANTEE)
Galloways Accounting Atlas Chambers 33 West Street Brighton East Sussex BN1 2RE
THE ROPETACKLE CENTRE TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Cash Flow Statement | 7 | ||
| Notes to the Financial Statements | 8 | to | 16 |
| Detailed Statement of Financial Activities | 17 | to | 18 |
THE ROPETACKLE CENTRE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
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 31 December 2023. 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
Ropetackle Arts Centre is a multi-award winning arts venue that attracts some of the biggest named performers in the UK. Situated in Shoreham, West Sussex, its aim is to stage events for all tastes and budgets for those living in Adur district and beyond.
The superbly equipped auditorium accommodates 200 seated or 350 standing. There is a separate mezzanine for small events and activities, a bar, and a large foyer which houses our in-house café.
The objects for which the trust was established are:
i) the promotion of the arts for the public benefit, the promotion and advancement of the education and the cultivation and improvement of public education in drama, mime, opera, singing, music, dance, painting and sculpture, cinema, literature and the other arts;
ii) to provide or assist in the provision of facilities for recreation and leisure-time occupation for the benefit of the inhabitants of Adur and the surrounding area, in the interests of social welfare with the object of improving the life of the said inhabitants.
The trustees confirm that the main activities undertaken are to further the charity's purposes for the public benefit; and that they have referred to the Charities Commission's guidance on public benefit when reviewing the company's aims, objectives and activities.
The Ropetackle Centre is run by the community, for the benefit of the community. Its principal activity is the putting on, and giving the people of the Adur district access to, high quality performances by wide ranging professional artists, as well as providing a fully equipped venue for community activities.
It is the trust's aim to extend its community outreach work insofar as this is achievable having regard to the trust's limited resources. It is the trust's policy to ensure that community projects which it undertakes are properly funded and resourced, and (in terms of resource) are not detrimental to the trust's core business of operating the Centre.
With a view to building on our successful, 2023 Arts Council funded project "Folk for All", involving a group of established musicians turning local stories and reminiscences, particularly from elderly people, into folk songs which will be performed in local schools as well as at Ropetackle, we are applying for a further Arts Council grant.
Following discussions with our fundraising consultants, our trustees have decided on a route map towards a prospective application in early 2026 for National Portfolio status.
In view of the importance of the revenue generated by our Friends & Patrons, and our Business Sponsorship schemes, we have appointed a part time Development Manager to increase such revenue.
Ropetackle continues its successful partnership with Shoreham Wordfest.
There are currently 10 trustees, including the recent appointment of Mark Phillips, former Ropetackle Centre Manager.
Page 1
THE ROPETACKLE CENTRE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
FINANCIAL REVIEW
The net income for the year was £60,658 (2022: £43,693)
Despite the underlying cost of living concerns, we managed to maintain an encouraging level of ticket sales.
This main source of revenue was enhanced by additional income from both bar sales and room hire activities.
However, as is the typical case with art venues similar to our own, the revenue generated by performance, bar sales and other activities are insufficient to achieve profitability. External sources of revenue are therefore essential.
Although Ropetackle receives grant funding from time to time for various specific projects, it does not receive any grants towards its core operation. It does, however, receive vital extra income from the community by way of its Friends and Patrons Scheme and from business by way of sponsorship.
The trustees are focused on maximising these sources of income.
The overall financial performance, with the benefit of such additional revenue streams, resulted in a modest, but acceptable level of surplus for the year.
Reserves policy
The board has determined that the charity requires reserves of at least £100,000.
At the year end, the charity's funds were £299,285 (2022: £238,627). Further details of reserves can be found in note 23.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The organisation is a charitable company limited by guarantee, incorporated on 11 May 2004. The company was established under a Memorandum of Association which established the objects and powers of the charitable company. It is governed by its Articles of Association. Under these Articles, the trustees are elected at the annual general meeting (AGM), which the charitable company must hold each year and to which all members are entitled to attend.
A board of trustees controls the charity's activities. The role of the board in the governance of the charity is to be responsible for the overall strategic development of the charity and to drive the organisation forward.
The trustees have identified the range of skills and expertise that will strengthen the board, and nominations for vacant positions are openly sought. New trustees can also be co-opted throughout the year and are then subject to election at the subsequent AGM on the basis of nominations. New trustees are inducted into the workings of the charity and provided with information regarding organisational and board policy and procedures. All new trustees sign a conflict of interest declaration and a statement confirming their eligibility to hold office as trustees.
Policies and procedures adopted for the induction and training of trustees are ongoing and incorporated indirectly into the regular trustees meetings.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
05124613 (England and Wales)
Registered Charity number
1109381
Registered office
The Ropetackle Arts Centre Little High Street Shoreham-By-Sea West Sussex BN43 5EG
Page 2
THE RopeTACXLE CENTRE TRUST REPORT OF THE TRUSTEES FOR ThE YEAR ENDED 31 DECEPJBER 2023 PMAln L J Durtanl C M Gunter A l Hodgson S V Pavker DRScott R J Tumer ET Touray N D Nea Company Di{ectC (apwinted 13.623) Phillips (appointed 11.6.241 Independent Examln•r Galloways Accounting Auas Chambers 33 West Street Brighton East Sussex BN1 2RE This repNt has been prepared in wrth ts specaal wovisi(xts of Part 15 of ts Ccffi)pani% Ad 21 relaling lo small Companies. Approved by order of the board of trustees on.. d signed on ils behaw by.. Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
THE ROPETACKLE CENTRE TRUST
Independent examiner's report to the trustees of The Ropetackle Centre Trust ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023.
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
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
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 2. 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.
Colin Young BA FCA
Galloways Accounting Atlas Chambers 33 West Street Brighton East Sussex BN1 2RE
21 August 2024
Page 4
THE ROPETACKLE CENTRE TRUST
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2023
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 3 64,928 Charitable activities 6 Venue operations 649,252 Other trading activities 4 165,345 Investment income 5 3,504 Other income 7 - Total 883,029 EXPENDITURE ON Raising funds 8 66,482 Charitable activities 9 Venue operations 764,925 Total 831,407 NET INCOME 51,622 RECONCILIATION OF FUNDS Total funds brought forward 234,634 TOTAL FUNDS CARRIED FORWARD 286,256 |
Restricted funds £ 38,286 - 5,000 - - 43,286 - 34,250 34,250 9,036 3,993 13,029 |
2023 Total funds as £ 103,214 649,252 170,345 3,504 - 926,315 66,482 799,175 865,657 60,658 238,627 299,285 |
2022 Total funds restated £ 64,611 501,751 123,083 - 22,667 |
|---|---|---|---|
| 712,112 | |||
| 51,642 616,777 |
|||
| 668,419 | |||
| 43,693 194,934 |
|||
| 238,627 |
The notes form part of these financial statements
Page 5
THE ROPEfACKLE CENTRE TRUST BAiANCE SHE 31 DECEMBER 2023 2023 Totsl funds 2022 Total fvnds as reststed nd FIXED ASSETS Tangible assets 16 0,750 8.750 13.657 CURRENT ASSETS Sto(s Debto Cash 81 bank and in hand 17 18 6.296 39.481 504.497 5.575 22.794 433.852 39A81 491.468 13,029 537.245 13.029 550,274 462,221 CREDoRs AnUnts falling due vrithin e year 19 1259.n9} 1259.739) (212.2511 NET CURRENT ASSETS 13.029 290,535 249,970 TOTAL ASSETS LESS CURRENT LIABILMES 286.256 13.029 263,627 CREDITORS Amounts tslling due after more than one year 125,(KX)} NET ASSETS 286.256 13.029 299.285 238.627 FUNDS Unrestrictéd fvnds Reslrrcted funds 23 286.256 13.029 234,634 3,993 TOTAL FUNDS 299.285 238.627 The charitable company is entstle(I to exempti fr( audit under son 477 of the Compan$ Act 2(#A for the year ended 31 Decefflber 2023. The members have not required the rA)mpany to obtain an audit of its finanoal statements fot the year ended 31 Dec£mber 2023 in accotdance with Section 476 of the Companies 2(XK. The trusle8s ad(nOedge their resp(billIS for lal ensuring that the charitable rrynpany keeps ac(XJUntN rd$ that rA)mpty Vilh Sections 386 and 387 of ihe Companies Act and preparing finanryal statements whKh gNe a Inje and frdir of the state of 8ffairs of Ihe tharitable MpanY as at the end of each financial year and of lis suwus or deficil for eath finarKial year in accordance wth the requirement5 of Sections 394 and 395 and which otherwse o)mpty with the Tequiremerts of the Companies Act 2Cth ielating to finanaal slatwnenis, so far as apicth to the than15 c(MYwny. Ibl These finanu81 Statements have been prepared in an the aFry)IKxble to (tsrTrtable ¢ompanie5 subject to the small companies regime. The finanoal statements Ere apwoved by thè Board of TnIee8 a1 auth)rised for issue .. and We signed on its beha by.. - Tnjstee The notes fomi part ofthese fKial slatements Page 6
THE ROPETACKLE CENTRE TRUST
CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023
| Notes Cash flows from operating activities Cash generated from operations 26 Interest paid Net cash provided by operating activities Cash flows from investing activities Purchase of tangible fixed assets Interest received Net cash used in investing activities Cash flows from financing activities Loan repayments in year Net cash used in financing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
2023 a £ 107,427 (293) 107,134 (4,993) 3,504 (1,489) (35,000) (35,000) 70,645 433,852 504,497 |
2022 s restated £ 75,076 (1,011) 74,065 (7,045) - (7,045) (9,999) (9,999) 57,021 376,831 433,852 |
|---|---|---|
The notes form part of these financial statements
Page 7
THE ROPETACKLE CENTRE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
1. STATUTORY INFORMATION
The Ropetackle Centre Trust is a limited-by-guarantee company incorporated in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the Trustees' Report on page 2 of these financial statements. The nature of the charity's operations and principal activities are the promotion of the arts for public benefit, the promotion and advancement of the education, the cultivation and improvement of public education in the arts, and the provision of facilities for recreation and leisure-time occupation.
2. 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.
Going concern
The financial statements have been prepared on a going concern basis since the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for the foreseeable future and consider sufficient funds exist for the charity to be able to continue as a going concern.
Income
All incoming resources are included in the Statement of Financial Activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Voluntary income
Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
Event income
Ticketing income is recognised when the event to which it relates occurs with income relating to future events being deferred.
Bar income
Bar income is recognised when goods are provided to the customer.
Government grants
Government grants which are compensation for expenses or losses already incurred or for the purpose of giving immediate financial support with no future related costs are recognised in the period in which they become receivable.
Expenditure
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.
Costs of generating funds comprise the costs associated with attracting voluntary income.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs. They are incurred directly in support of expenditure on the objects of the charity.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include accountancy fees and costs linked to the strategic management of the charity.
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THE ROPETACKLE CENTRE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
2. ACCOUNTING POLICIES - continued
Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life.
The charity changed their method of depreciating its fixed assets from a 25% on a reducing balance basis to four years on a straight-line basis as this revised method better reflects the charity's use of their fixed assets over their useful lives and is consistent with the charity's replacement cycle.
The change in depreciation method is accounted for in the current year and in any subsequent periods,
| Leasehold property improvements | - 10% flat rate per annum |
|---|---|
| Plant and machinery | - 25% per annum on a straight line basis |
| Fixtures and fittings | - 25% per annum on a straight line basis |
| Computer equipment | - 25% per annum on a straight line basis |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.
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.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Debtors and creditors due within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at the transaction price. Any losses arising from impairment are recognised in expenditure.
Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
3. DONATIONS AND LEGACIES
| Donations Grants |
2023 a £ 67,082 36,132 103,214 |
2022 s restated £ 59,578 5,033 64,611 |
|---|---|---|
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THE ROPETACKLE CENTRE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
4. OTHER TRADING ACTIVITIES
| Business friends sponsorship Ropetackle in the community sponsorship Bar sales 5. INVESTMENT INCOME Deposit account interest 6. INCOME FROM CHARITABLE ACTIVITIES Activity Ticket sales Venue operations Performance venue hire Venue operations Other lettings and conferences Venue operations Booking fees Venue operations Film Club Venue operations Levy charges Venue operations Other Venue operations Commission income Venue operations 7. OTHER INCOME Government grants |
2023 a £ 2,388 5,000 162,957 170,345 2023 a £ 3,504 2023 a £ 560,981 12,230 16,962 31,338 4,080 16,406 3,193 4,062 649,252 2023 a £ - |
2022 s restated £ - - 123,083 123,083 2022 s restated £ - 2022 s restated £ 429,476 10,033 10,420 25,655 4,251 16,760 2,400 2,756 501,751 2022 s restated £ 22,667 |
|---|---|---|
Other income in 2022 comprised Government grant income relating to the Coronavirus Job Retention Scheme.
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continued...
THE ROPETACKLE CENTRE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
8. RAISING FUNDS
Other trading activities
| 2023 a £ Purchases 66,482 9. CHARITABLE ACTIVITIES COSTS Support Direct costs (see Costs note 10) £ £ Venue operations 677,129 122,046 10. SUPPORT COSTS Governance Management costs £ £ Venue operations 118,789 3,257 11. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): 2023 a £ Independent examiner's remuneration 1,052 Other non-independent examination services 2,205 Depreciation - owned assets 9,900 |
2022 s restated £ 51,642 Totals £ 799,175 Totals £ 122,046 2022 s restated £ 1,139 2,278 3,779 |
|---|---|
12. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
Trustees' expenses
During the year, £1,343 (2022: £341) of expenses were incurred that were reimbursed to four trustees.
13. STAFF COSTS
| STAFF COSTS | ||
|---|---|---|
| 2023 | 2022 | |
| as restated | ||
| £ | £ | |
| Wages and salaries | 145,066 | 113,420 |
| Social security costs | 5,198 | 2,759 |
| Other pension costs | 5,550 | 2,684 |
| 155,814 | 118,863 | |
| The average monthly number of employees during the year was as follows: | ||
| 2023 | 2022 | |
| as restated | ||
| Employees | 9 | 8 |
No employees received emoluments in excess of £60,000.
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THE ROPETACKLE CENTRE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
14. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 59,600 Charitable activities Venue operations 501,751 Other trading activities 123,083 Other income 2,667 Total 687,101 EXPENDITURE ON Raising funds 51,642 Charitable activities Venue operations 582,781 Total 634,423 NET INCOME/(EXPENDITURE) 52,678 Transfers between funds 3,854 Net movement in funds 56,532 RECONCILIATION OF FUNDS Total funds brought forward 178,102 TOTAL FUNDS CARRIED FORWARD 234,634 |
Restricted funds as £ 5,011 - - 20,000 25,011 - 33,996 33,996 (8,985) (3,854) (12,839) 16,832 3,993 |
Total funds restated £ 64,611 501,751 123,083 22,667 |
|---|---|---|
| 712,112 | ||
| 51,642 616,777 |
||
| 668,419 | ||
| 43,693 - |
||
| 43,693 194,934 |
||
| 238,627 |
15. PRIOR YEAR ADJUSTMENT
The prior year restatement reflects the utilisation of the restricted fund 'Organisational Development' that had been incorrectly allocated to the unrestricted reserve.
This restatement has no financial impact on the statement of financial activity or balance sheet.
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THE ROPETACKLE CENTRE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
16. TANGIBLE FIXED ASSETS
| Improvements to Plant and property machinery £ £ COST At 1 January 2023 333,138 15,600 Additions - 3,408 At 31 December 2023 333,138 19,008 DEPRECIATION At 1 January 2023 333,137 10,084 Charge for year - 4,837 At 31 December 2023 333,137 14,921 NET BOOK VALUE At 31 December 2023 1 4,087 At 31 December 2022 1 5,516 17. STOCKS Stocks 18. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors Prepayments and accrued income 19. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 21) Trade creditors Social security and other taxes VAT Other creditors Accruals and deferred income |
Fixtures and fittings £ 24,788 1,585 26,373 18,579 4,106 22,685 3,688 6,209 |
Computer equipment £ 2,665 - 2,665 734 957 1,691 974 1,931 2023 a £ 6,296 2023 a £ 5,717 6,116 27,648 39,481 2023 a £ - 26,021 2,148 8,339 6,735 216,496 259,739 |
Totals £ 376,191 4,993 381,184 362,534 9,900 372,434 8,750 13,657 2022 s restated £ 5,575 2022 s restated £ 3,493 4,364 14,937 22,794 2022 s restated £ 10,000 20,672 1,703 8,302 4,521 167,053 212,251 |
|---|---|---|---|
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THE ROPETACKLE CENTRE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
20. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
| 2023 as £ Bank loans (see note 21) - 21. LOANS An analysis of the maturity of loans is given below: 2023 as £ Amounts falling due within one year on demand: Bank loans - Amounts falling between one and two years: Bank loans - 1-2 years - Amounts falling due between two and five years: Bank loans - 2-5 years - 22. LEASING AGREEMENTS The company has a 30 year lease until 2037 with Adur District Council. By the terms of this lease, rent is the lower of £40,000 or 40% of the net income in excess of £10,000. |
2022 restated £ 25,000 2022 restated £ 10,000 10,000 15,000 the annual |
|---|---|
23. MOVEMENT IN FUNDS
| Unrestricted funds General fund Restricted funds Film Hub Folk For All Maggie Roberts Ropetackle In The Community TOTAL FUNDS |
At 1.1.23 £ 234,634 2,924 1,069 - - 3,993 238,627 |
Net movement in funds £ 51,622 2,057 1,423 556 5,000 9,036 60,658 |
At 31.12.23 £ 286,256 4,981 2,492 556 5,000 |
|---|---|---|---|
| 13,029 | |||
| 299,285 |
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THE ROPETACKLE CENTRE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
23. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 883,029 | (831,407) | 51,622 |
| Restricted funds | |||
| Film Hub | 5,553 | (3,496) | 2,057 |
| Folk For All | 29,733 | (28,310) | 1,423 |
| Maggie Roberts | 1,000 | (444) | 556 |
| Love To Move Together | 2,000 | (2,000) | - |
| Ropetackle In The Community | 5,000 | - | 5,000 |
| 43,286 | (34,250) | 9,036 | |
| TOTAL FUNDS | 926,315 | (865,657) | 60,658 |
Comparatives for movement in funds
| Unrestricted funds General fund Restricted funds Santander Foundation Steam Programme Film Hub Organisational Development Meal Appeal Folk For All TOTAL FUNDS |
At 1.1.22 £ 178,102 3,000 1,000 2,496 10,000 336 - 16,832 194,934 |
Net movement in funds £ 52,678 - - 428 (10,000) (482) 1,069 (8,985) 43,693 |
Transfers between funds £ 3,854 (3,000) (1,000) - - 146 - (3,854) - |
At 31.12.22 £ 234,634 - - 2,924 - - 1,069 |
|---|---|---|---|---|
| 3,993 | ||||
| 238,627 |
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Film Hub Organisational Development Meal Appeal Folk For All TOTAL FUNDS |
Incoming resources £ 687,101 3,512 20,000 (1) 1,500 25,011 712,112 |
Resources Movement expended in funds £ £ (634,423) 52,678 (3,084) 428 (30,000) (10,000) (481) (482) (431) 1,069 (33,996) (8,985) (668,419) 43,693 |
Resources Movement expended in funds £ £ (634,423) 52,678 (3,084) 428 (30,000) (10,000) (481) (482) (431) 1,069 (33,996) (8,985) (668,419) 43,693 |
|---|---|---|---|
| (8,985) | |||
| 43,693 |
The unrestricted fund is used to further the aims of the charity at the discretion of the trustees.
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THE ROPETACKLE CENTRE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
23. MOVEMENT IN FUNDS - continued
The Film Hub restricted reserve is used to provide film performances to people living with Alzheimer's disease.
The Folk For All is a creative exchange between 10 folk local musicians & practitioners, culminating in a series of creative exchange sessions, community performances & school assembly performances.
The Maggie Roberts is ringfenced for 'Can Bears Ski' as an event for deaf schools & one Panto performance, the money will go towards free tickets and interpreter fees.
The Love To Move Together funding is to provide more Love to Move sessions & to increase the number of people with long-term health conditions and people with disabilities that benefit from the Love to Move programme.
The Ropetackle In The Community funding is sponsorship income received by Business Friends Sponsorship.
24.
EMPLOYEE BENEFIT OBLIGATIONS
The charity made contributions to a defined contribution pension plan, administered by a third party, amounting to £5,550 (2022: £2,684). The full expense is allocated to the unrestricted reserves.
25. RELATED PARTY DISCLOSURES
During the year, the charity purchased performances amounting to £13,497 (2022: £11,174) from R Durrant, spouse of the trustee, L Durrant.
26. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Interest received Interest paid Increase in stocks Increase in debtors Increase in creditors Net cash provided by operations |
2023 a £ 60,658 9,900 (3,504) 293 (721) (16,687) 57,488 107,427 |
2022 s restated £ 43,693 3,778 - 1,011 (1,020) (4,116) 31,730 75,076 |
|---|---|---|
27.
ANALYSIS OF CHANGES IN NET FUNDS
| At 1.1.23 | Cash flow | At 31.12.23 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank and in hand | 433,852 | 70,645 | 504,497 |
| 433,852 | 70,645 | 504,497 | |
| Debt | |||
| Debts falling due within 1 year | (10,000) | 10,000 | - |
| Debts falling due after 1 year | (25,000) | 25,000 | - |
| (35,000) | 35,000 | - | |
| Total | 398,852 | 105,645 | 504,497 |
Page 16
THE ROPETACKLE CENTRE TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023
| INCOME AND ENDOWMENTS Donations and legacies Donations Grants Other trading activities Business friends sponsorship Ropetackle in the community sponsorship Bar sales Investment income Deposit account interest Charitable activities Ticket sales Performance venue hire Other lettings and conferences Booking fees Film Club Levy charges Other Commission income Other income Government grants Total incoming resources EXPENDITURE Other trading activities Bar costs Charitable activities Wages Social security Pensions Advertising and marketing Performers' fees Technicians Film rental Ticketing costs Equipment hire Security costs Front of house Carried forward |
2023 a £ 67,082 36,132 103,214 2,388 5,000 162,957 170,345 3,504 560,981 12,230 16,962 31,338 4,080 16,406 3,193 4,062 649,252 - 926,315 66,482 145,066 5,198 5,550 20,161 401,118 28,340 8,393 13,848 3,419 751 14,655 646,499 |
2022 s restated £ 59,578 5,033 |
|---|---|---|
| 64,611 - - 123,083 |
||
| 123,083 - 429,476 10,033 10,420 25,655 4,251 16,760 2,400 2,756 |
||
| 501,751 22,667 |
||
| 712,112 51,642 113,420 2,759 2,684 12,654 303,965 19,142 7,329 11,408 494 31 17,537 491,423 |
This page does not form part of the statutory financial statements
Page 17
THE ROPETACKLE CENTRE TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023
| Charitable activities Brought forward Relaxed and friendly screening Programme costs PRS charges Consultancy Meals appeal costs Support costs Management Rates and water Insurance Light and heat Telephone Postage and stationery Sundries Service charges Travel and subsistence Computer costs Repairs and maintenance Cleaning Bank charges Administration and bookkeeping Irrecoverable VAT Bad debt Staff costs Refreshments Legal and professional fees Subscriptions Fines and penalties Depreciation of tangible and heritage assets Bank loan interest Governance costs Independent examiner's remuneration Independent examiner's fees for non examination services Total resources expended Net income |
2023 a £ 646,499 2,811 7,121 19,498 1,200 - 677,129 527 3,211 24,657 1,019 2,234 1,028 6,000 1,108 2,052 13,439 17,776 15,928 1,268 11,340 - 3,420 171 2,700 692 25 9,901 293 118,789 1,052 2,205 3,257 865,657 60,658 |
2022 s restated £ 491,423 2,371 14,334 15,218 1,375 481 |
|---|---|---|
| 525,202 705 3,111 19,120 899 1,790 1,740 6,000 198 2,525 6,769 15,382 10,806 3,675 9,513 100 333 127 73 503 - 3,778 1,011 |
||
| 88,158 1,139 2,278 |
||
| 3,417 | ||
| 668,419 | ||
| 43,693 |
This page does not form part of the statutory financial statements
Page 18