**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 PMAl￿n 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: 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. 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 CRED￿oRs An￿Unts 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 s￿￿on 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(nO￿edge their resp(￿￿billI￿S for lal ensuring that the charitable rrynpany keeps ac(XJUntN￿ r￿d$ that rA)mpty V*ilh 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 ap￿icth to the than1*5￿ 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 TnI￿ee8 a￿1 auth)rised for issue .. and We￿ signed on its beha￿ by.. - Tnjstee The notes fomi part ofthese f￿￿Kial 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. Page 8 continued... **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| |---|---|---| Page 9 continued... **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. Page 10 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. Page 11 continued... **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. Page 12 continued... **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| |---|---|---|---| Page 13 continued... **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**| Page 14 continued... **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. Page 15 continued... **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