----- Start of picture text -----
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 2024
FOR
THE ROPETACKLE CENTRE TRUST
(A COMPANY LIMITED BY GUARANTEE)
----- End of picture text -----
----- Start of picture text -----
Galloways Accounting Limited
15 West Street
Brighton
East Sussex
BN1 2RL
----- End of picture text -----
!
THE ROPETACKLE CENTRE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ACHIEVEMENT AND PERFORMANCE 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. The trust continues to expand 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. This work has also been supported by funding from certain corporate sponsors and by a generous donation from an individual. Revenue generated by our Patrons & Friends (P&F), and our Business Sponsorship schemes, continues to be of critical importance, the Trust having established a team to develop the P&F membership. The Trust is also planning to increase sponsorship revenue, for example, through close working relationships with the Chambers of Commerce. Recognising the importance of digital marketing, the Trust has increased its staffing resource in this area, focusing on social media,
Recognising the importance of digital marketing, the Trust has increased its staffing resource in this area, focusing on social targeted marketing and effective use of audience data.
Ropetackle continues its successful partnership with Shoreham Wordfest.
There are currently 10 trustees.
FINANCIAL REVIEW The net income for the year was £70,278 (2023: £60,658)
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 Patrons and Friends 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 £200,000.
of
At the year end, the charity's funds were £369,563 (2023: £299,285). Further details of reserves can be found in note 19.
Page 1
THE ROPETACKLE CENTRE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
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
Trustees P M Allen L J Durrant C M Gunter A | Hodgson S V Parker DR Scott R J Turner ET Touray N D Neale M Phillips (appointed 11/6/2024) Independent Examiner Galloways Accounting Limited 15 West Street Brighton East Sussex BN1 2RL
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 17 June 2025 and signed on its behalf by:
D R Scott - Trustee
Page 2
3
3
3
,
!,
----- Start of picture text -----
3
----- End of picture text -----
3
| Unrestricted fund |
Restricted funds |
2024 Total funds |
2023 Total funds |
|
|---|---|---|---|---|
| Notes | A | A | ? | A |
| 71,406 | 32,294 | 103,700 | 103,214 | |
| " | ||||
| 647,449 | 117 | 647,566 | 649,252 | |
| ! | 182,441 | 3,750 | 186,191 | 170,345 |
| 5 | 16,789 | A | 16,789 | 3,504 |
| 918,085 | 36,161 | 954,246 | 926,315 | |
| # | 73,069 | A | 73,069 | 66,482 |
| B |
----- Start of picture text -----
A A ? A
A 27,770
6,250 A 6,250
A
23,053
35,191 560,829
35,191 590,132
A
----- End of picture text -----
4+5
?
A
A
4!)77 5
A A
THE ROPETACKLE CENTRE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
- 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. 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.
- ACCOUNTING POLICIES
~~Sponsorships~~
Sponsorship income is recognised on a straight line basis over the period to which it relates.
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. 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,
Page 7
continued...
3%
? ? ?
----- Start of picture text -----
A
A
A
----- End of picture text -----
Activity ? A Ticket sales Venue operations 560,045 560,981 Performance venue hire Venue operations 13,586 12,230 Other lettings and conferences Venue operations 15,488 16,962 Booking fees Venue operations 31,839 31,338 Film Club Venue operations 4,550 !)(B( Levy charges Venue operations 16,232 16,406 Other Venue operations 1,538 3,193 Commission income Venue operations 4,288 4,062 647,566 649,252 @C RAISING FUNDS Other trading activities 2024 2023 ? A Purchases 73,069 66,482 &C CHARITABLE ACTIVITIES COSTS Support Direct costs (see Costs note 9) Totals A A A Venue operations 673,771 137,128 810,899 %C SUPPORT COSTS Governance Management costs Totals A A A Venue operations 132,428 4,700 137,128 10. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): 2024 2023 ? A Independent examiner's remuneration 1,533 1,052 Other non-independent examination services 3,167 2,205 Depreciation - owned assets 11,576 7)7((
| 2024 | 2023 | |
|---|---|---|
| ? | A | |
| 147,367 | 145,066 | |
| 4,929 | 5,198 | |
| 5,958 | 5,550 | |
| 158,254 | 155,814 | |
| 2024 | 2023 | |
| 10 | 7 | |
| Unrestricted | Restricted | Total |
| fund | funds | funds |
| A | A | A |
| 64,928 | 38,286 | 103,214 |
| 649,252 | 9 | 649,252 |
| 165,345 | 5,000 | 170,345 |
| 3,504 | 9 | 3,504 |
| 883,029 | 43,286 | 926,315 |
| 66,482 | 9 | 66,482 |
| 764,925 | 34,250 | 799,175 |
| 831,407 | 34,250 | 865,657 |
| 51,622 | 7)( " | 60,658 |
| 234,634 | )77 | 238,627 |
| A | A | A | A | A | |
|---|---|---|---|---|---|
| 333,138 | 333,138 | 19,008 | 26,373 | 2,665 | 381,184 |
| A | 29,947 | A | 649 | 30,596 | |
| 333,138 | 333,138 | 48,955 | 26,373 | 3,314 | 411,780 |
| 333,137 | 333,137 | 14,921 | 22,685 | 1,691 | 372,434 |
| A | 9,044 | 1,702 | 830 | 11,576 | |
| 333,137 | 333,137 | 23,965 | 24,387 | 2,521 | 384,010 |
| 1 | 24,990 | 1,986 | 793 | 27,770 | |
| 1 | !)(B# | )"BB | 7#! | 8,750 | |
| 2024 | 2023 | ||||
| ? | A | ||||
| 6,250 | 6,296 | ||||
| WITHIN | ONE YEAR | ||||
| 2024 | 2023 | ||||
| ? | A | ||||
| 1,138 | 5,717 | ||||
| 3,602 | 6,116 | ||||
| 18,313 | 27,648 | ||||
| 23,053 | 39,481 | ||||
| WITHIN | WITHIN ONEYEAR | ||||
| 2024 | 2023 | ||||
| ? | A | ||||
| 18,814 | 26,021 | ||||
| 2,135 | 2,148 | ||||
| 10,940 | B) 7 |
| A | A | A | |
|---|---|---|---|
| 286,256 | 48,116 | 334,372 | |
| 4,981 | (319) | 4,662 | |
| 2,492 | (300) | 2,192 | |
| 556 | (556) | A | |
| 5,000 | (1,355) | 3,645 | |
| A | 20,475 | 20,475 | |
| A | 4,217 | 4,217 | |
| 13,029 | 22,162 | 35,191 | |
| 299,285 | 70,278 | 369,563 | |
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| A | A | A | |
| 918,085 | (869,969) | 48,116 | |
| 2,920 | (3,239) | (319) | |
| A | (300) | (300) | |
| A | (556) | (556) | |
| A | (1,355) | (1,355) | |
| 28,124 | (7,649) | 20,475 | |
| 5,117 | (900) | 4,217 | |
| 36,161 | (13,999) | 22,162 | |
| 954,246 | (883,968) | 70,278 | |
| Net | |||
| movement | At | ||
| 1.1.23 | in funds | 31.12.23 | |
| A | A | A | |
| 234,634 | 51,622 | 286,256 | |
| 2,924 | 2,057 | 4,981 | |
| 1,069 | 1,423 | 2,492 | |
| 9 | 556 | 556 | |
| 9 | 5,000 | 5,000 | |
| )77 | 7)( " | 13,029 |
A A A (831,407) 51,622 5,553 4 )!7"5 2,057 (28,310) 1,423 1,000 4!!!5 556 9 2,000 (2,000) 9 5,000 5,000 (34,250) 7)( "
?
A
7)7((
A
?
A
A
THE ROPETACKLE CENTRE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
| 23. | ANALYSIS OF CHANGES IN NETFUNDS- continued | |||
|---|---|---|---|---|
| Cash at bank and in hand | 504,497 | 56,332 | 560,829 | |
| 504,497 | 56,332 | 560,829 | ||
| Total | 504,497 | 56,332 | 560,829 |
Page 14
A
----- Start of picture text -----
A
----- End of picture text -----
!)(B(
B) 7
A
A
")(((
&&%
9
A
A