REGISTERED COMPANY NUMBER: 05453546 (England and Wales) REGISTERED CHARITY NUMBER: 1115847
ACORN COMMUNITY THEATRE LIMITED
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023
Brown & Co. 9 Sparken Hill Worksop Nottinghamshire S80 1AX
ACORN COMMUNITY THEATRE LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 30 APRIL 2023
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 2 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | to | 7 |
| Cash Flow Statement | 8 | ||
| Notes to the Cash Flow Statement | 9 | ||
| Notes to the Financial Statements | 10 | to | 14 |
| Detailed Statement of Financial Activities | 15 |
ACORN COMMUNITY THEATRE LIMITED
REFERENCE AND ADMINISTRATIVE DETAILS for the Year Ended 30 APRIL 2023
| TRUSTEES | Miss Zoe Banyard (resigned 12.9.2022) |
|---|---|
| Mrs Hayla Alison Hawes | |
| Mrs Janet Elizabeth Hurst | |
| Miss Gillian Marjorie Wenger | |
| Dr Ian Richard McKeer | |
| Mr John Edward Murdoch | |
| Mr Andrew Darksus | |
| Deacon Emily Hoe-Cook (appointed 7.12.2022) | |
| Mrs Jeanette Adams (appointed 7.12.2022) | |
| COMPANY SECRETARY | Mr John Edward Murdoch |
| REGISTERED OFFICE | Queen Street |
| Worksop | |
| Nottinghamshire | |
| S80 2AN | |
| REGISTERED COMPANY | 05453546 (England and Wales) |
| NUMBER | |
| REGISTERED CHARITY | 1115847 |
| NUMBER | |
| INDEPENDENT EXAMINER | Brown & Co. |
| 9 Sparken Hill | |
| Worksop | |
| Nottinghamshire | |
| S80 1AX |
Page 1
ACORN COMMUNITY THEATRE LIMITED
REPORT OF THE TRUSTEES for the Year Ended 30 APRIL 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 30 April 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).
OBJECTIVES AND ACTIVITIES
The Charity's Objects are:
1) To provide and promote the Acorn Theatre as a venue for the performing and visual arts for the benefit of the people of Worksop, Nottinghamshire and the surrounding areas.
2) To promote, maintain , improve and advance education in the performing arts particularly by encouraging the arts of Drama, Dance, Singing and Music and to offer other arts experiences which assist in developing self and social awareness, self-confidence and empowerment. For the purpose of social inclusion and participation in the live arts.
In providing the only dedicated theatrical venue in Worksop and thereby contributing to the town's cultural life the trustees have had due regard to the guidance issued by the Charity Commission.
The theatre auditorium and Oak Suite are hired either for performances or rehearsals or both by amateur and professional groups or artists. These cover dance, drama, musicals, popular music and magic.
A reciprocal arrangement with the Crossing church allows groups to use the church if the theatre is fully booked and vice-versa. This benefits both parties and their hirers.
The charity is run entirely by volunteers including the Trustees. They administer the theatre, staff the box office, bar and kiosk, provide technical support for some user groups and maintain the building within the limitations of the insurance cover.
ACHIEVEMENT AND PERFORMANCE
The charity has maintained its remit to provide facilities for user groups. Seventeen events took place plus four Theatre Weeks and three Schools Weeks both types for young people to put on a play in a week. The events were: dance (4 schools), drama (5 groups), musical (1 group) and music (2 acts) plus a magician.
Continuing steps to secure the infrastructure of the building were made by rewiring parts of it. The stage lighting was replaced with modern LED lights and controls. This improved the facilities for performers and will reduce energy consumption in future. Ways to improve the heating of the building and reduce energy consumption were examined with a view to renewing the whole system.
FINANCIAL REVIEW
Under the provisions of S144(1) of the Charities Act 2006 an audit is not required and the accounts have been subject to independent examination. These accounts together with the independent examiner's report will be submitted to the Charity Commission along with this Annual Report and the Annual Return.
Reserves - To retain a reserve of £4k. This is sufficient to cover the running costs of the theatre should there be no income for one quarter.
The principal sources of funds are the hire of the premises and profits from the bar and kiosk.
Expenditure has supported the charity's objectives by maintaining the building in a fit state for its users and for public performances.
The charity has no investments.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Acorn Community Theatre Limited is a company limited by guarantee governed by its Memorandum and Articles of Association dated 13th January 2020. It is registered as a charity with the Charity Commission.
Page 2
ACORN COMMUNITY THEATRE LIMITED
REPORT OF THE TRUSTEES
for the Year Ended 30 APRIL 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Directors and trustees
Appointment by Board of Directors followed by election at AGM. Certain Trustees are nominated by the three founder groups as stipulated in the M&A.
The charity is overseen by a Board of Trustees whose members are also directors of the limited company. Specific directors have responsibility for overseeing some functions and the work of volunteers.
There are Health & Safety, CCTV, Data Protection, Safeguarding, IT, Age Verification and Conflict of Interest policies. Within Health & Safety there are Fire, Legionella and Performance risk assessments. In addition there is a Code of Conduct for volunteers and trustees plus Guidance for Trustees and a Complaints Procedure. Together these are used to manage risk.
Financial risks are controlled by adherence to a spending code.
EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.
Approved by order of the board of trustees on 18 September 2023 and signed on its behalf by:
Dr Ian Richard McKeer - Trustee
Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ACORN COMMUNITY THEATRE LIMITED
Independent examiner's report to the trustees of Acorn Community Theatre Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 April 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
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
-
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.
J Brown
Brown & Co. 9 Sparken Hill Worksop Nottinghamshire S80 1AX
18 September 2023
Page 4
ACORN COMMUNITY THEATRE LIMITED
STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 30 APRIL 2023
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 1,606 Charitable activities Operation of theatre 59,098 Investment income 2 102 Total 60,806 EXPENDITURE ON Charitable activities Operation of theatre 36,050 NET INCOME 24,756 RECONCILIATION OF FUNDS Total funds brought forward 79,671 TOTAL FUNDS CARRIED FORWARD 104,427 |
Restricted funds £ 1,632 - - 1,632 - 1,632 1,558 3,190 |
2023 Total funds £ 3,238 59,098 102 62,438 36,050 26,388 81,229 107,617 |
2022 Total funds £ 3,050 34,653 - |
|---|---|---|---|
| 37,703 | |||
| 32,699 | |||
| 5,004 76,225 |
|||
| 81,229 |
The notes form part of these financial statements
Page 5
ACORN COMMUNITY THEATRE LIMITED
BALANCE SHEET
30 APRIL 2023
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 6 41,741 CURRENT ASSETS Stocks 7 1,950 Debtors 8 2,979 Cash at bank and in hand 68,726 73,655 CREDITORS Amounts falling due within one year 9 (10,969) NET CURRENT ASSETS 62,686 TOTAL ASSETS LESS CURRENT LIABILITIES 104,427 NET ASSETS 104,427 FUNDS 10 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ - - - 3,190 3,190 - 3,190 3,190 3,190 |
2023 Total funds £ 41,741 1,950 2,979 71,916 76,845 (10,969) 65,876 107,617 107,617 104,427 3,190 107,617 |
2022 Total funds £ 16,543 2,350 7,107 58,577 68,034 (3,348) 64,686 81,229 81,229 79,671 1,558 81,229 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
Page 6
continued...
ACORN COMMUNITY THEATRE LIMITED
BALANCE SHEET - continued
30 APRIL 2023
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 18 September 2023 and were signed on its behalf by:
Dr Ian Richard McKeer - Trustee
The notes form part of these financial statements
Page 7
ACORN COMMUNITY THEATRE LIMITED
CASH FLOW STATEMENT for the Year Ended 30 APRIL 2023
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash provided by operating activities Cash flows from investing activities Purchase of tangible fixed assets Interest received Net cash used in investing 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 £ 42,163 42,163 (28,926) 102 (28,824) 13,339 58,577 71,916 |
2022 £ 1,767 1,767 (313) - (313) 1,454 57,123 58,577 |
|---|---|---|
The notes form part of these financial statements
Page 8
ACORN COMMUNITY THEATRE LIMITED
NOTES TO THE CASH FLOW STATEMENT for the Year Ended 30 APRIL 2023
| 1. | RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM | RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM | OPERATING ACTIVITIES | OPERATING ACTIVITIES |
|---|---|---|---|---|
| 2023 | 2022 | |||
| £ | £ | |||
| Net income for the reporting period (as per the Statement of Financial | ||||
| Activities) | 26,388 | 5,004 | ||
| Adjustments for: | ||||
| Depreciation charges | 3,684 | 3,498 | ||
| Loss on disposal of fixed assets | 44 | - | ||
| Interest received | (102) | - | ||
| Decrease in stocks | 400 | - | ||
| Decrease/(increase) in debtors | 4,128 | (6,313) | ||
| Increase/(decrease) in creditors | 7,621 | (422) | ||
| Net cash provided by operations | 42,163 | 1,767 | ||
| 2. | ANALYSIS OF CHANGES IN NET FUNDS | |||
| At 1.5.22 | Cash flow | At 30.4.23 | ||
| £ | £ | £ | ||
| Net cash | ||||
| Cash at bank and in hand | 58,577 | 13,339 | 71,916 | |
| 58,577 | 13,339 | 71,916 | ||
| Total | 58,577 | 13,339 | 71,916 |
The notes form part of these financial statements
Page 9
ACORN COMMUNITY THEATRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 30 APRIL 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance, 15% on reducing balance, 10% on cost and 10% on reducing balance Computer equipment - 25% on reducing balance
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
Page 10
ACORN COMMUNITY THEATRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 APRIL 2023
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Interest receivable | 102 | - |
| NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | ||
| 2023 | 2022 | |
| £ | £ | |
| Depreciation - owned assets | 3,684 | 3,498 |
| Deficit on disposal of fixed assets | 44 | - |
3. NET INCOME/(EXPENDITURE)
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 April 2023 nor for the year ended 30 April 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 April 2023 nor for the year ended 30 April 2022.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted Restricted fund funds £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 2,667 383 Charitable activities Operation of theatre 34,653 - Total 37,320 383 EXPENDITURE ON Charitable activities Operation of theatre 31,874 825 NET INCOME/(EXPENDITURE) 5,446 (442) RECONCILIATION OF FUNDS Total funds brought forward 74,225 2,000 TOTAL FUNDS CARRIED FORWARD 79,671 1,558 |
Total funds £ 3,050 34,653 |
|---|---|
| 37,703 | |
| 32,699 | |
| 5,004 76,225 |
|
| 81,229 |
continued...
Page 11
ACORN COMMUNITY THEATRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 APRIL 2023
6. TANGIBLE FIXED ASSETS
| 6. | TANGIBLE FIXED ASSETS | |||
|---|---|---|---|---|
| Fixtures | ||||
| and | Computer | |||
| fittings | equipment | Totals | ||
| £ | £ | £ | ||
| COST | ||||
| At 1 May 2022 | 98,863 | 1,740 | 100,603 | |
| Additions | 28,926 | - | 28,926 | |
| Disposals | (610) | - | (610) | |
| At 30 April 2023 | 127,179 | 1,740 | 128,919 | |
| DEPRECIATION | ||||
| At 1 May 2022 | 82,738 | 1,322 | 84,060 | |
| Charge for year | 3,616 | 68 | 3,684 | |
| Eliminated on disposal | (566) | - | (566) | |
| At 30 April 2023 | 85,788 | 1,390 | 87,178 | |
| NET BOOK VALUE | ||||
| At 30 April 2023 | 41,391 | 350 | 41,741 | |
| At 30 April 2022 | 16,125 | 418 | 16,543 | |
| 7. | STOCKS | |||
| 2023 | 2022 | |||
| £ | £ | |||
| Stock | 1,950 | 2,350 | ||
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 2023 | 2022 | |||
| £ | £ | |||
| VAT | - | 1,856 | ||
| Sundry debtors prepayments | 2,979 | 5,251 | ||
| 2,979 | 7,107 |
continued...
Page 12
ACORN COMMUNITY THEATRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 APRIL 2023
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors VAT |
2023 £ 10,555 414 10,969 |
2022 £ 3,348 - |
|---|---|---|
| 3,348 |
10. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | |||||
|---|---|---|---|---|---|
| Net | |||||
| movement | At | ||||
| At 1.5.22 | in funds | 30.4.23 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 79,671 | 24,756 | 104,427 | ||
| Restricted funds | |||||
| Charities Aid Foundation fund | 1,175 | - | 1,175 | ||
| Toilet refurbishment fund | 383 | 1,632 | 2,015 | ||
| 1,558 | 1,632 | 3,190 | |||
| TOTAL FUNDS | 81,229 | 26,388 | 107,617 | ||
| Net movement in funds, included in the above are as follows: | |||||
| Incoming | Resources | Movement | |||
| resources | expended | in funds | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 60,806 | (36,050) | 24,756 | ||
| Restricted funds | |||||
| Toilet refurbishment fund | 1,632 | - | 1,632 | ||
| TOTAL FUNDS | 62,438 | (36,050) | 26,388 | ||
| Comparatives for movement in funds | |||||
| Net | |||||
| movement | At | ||||
| At 1.5.21 | in funds | 30.4.22 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 74,225 | 5,446 | 79,671 | ||
| Restricted funds | |||||
| Charities Aid Foundation fund | 2,000 | (825) | 1,175 | ||
| Toilet refurbishment fund | - | 383 | 383 | ||
| 2,000 | (442) | 1,558 | |||
| TOTAL FUNDS | 76,225 | 5,004 | 81,229 |
continued...
Page 13
ACORN COMMUNITY THEATRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 APRIL 2023
10. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
11.
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 37,320 | (31,874) | 5,446 |
| Restricted funds | |||
| Charities Aid Foundation fund | - | (825) | (825) |
| Toilet refurbishment fund | 383 | - | 383 |
| 383 | (825) | (442) | |
| TOTAL FUNDS | 37,703 | (32,699) | 5,004 |
| CAPITAL COMMITMENTS | |||
| 2023 | 2022 | ||
| £ | £ | ||
| Contracted but not provided for in the financial statements | 4,670 | - |
Capital commitments relate to the costs of new stage lighting which was only 50% completed by 30 April 2023.
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 April 2023.
13. POST BALANCE SHEET EVENTS
No events have taken place since the end of the year which need to be shown in these accounts.
Page 14
ACORN COMMUNITY THEATRE LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 30 APRIL 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 2,188 | 383 |
| Covid 19 support grants | - | 2,667 |
| Other grants | 1,050 | - |
| 3,238 | 3,050 | |
| Investment income | ||
| Interest receivable | 102 | - |
| Charitable activities | ||
| Events hire/income | 43,063 | 26,741 |
| Bar and kiosk takings | 16,035 | 7,912 |
| 59,098 | 34,653 | |
| Total incoming resources | 62,438 | 37,703 |
| EXPENDITURE | ||
| Charitable activities | ||
| Event costs | 2,302 | 33 |
| Bar and kiosk purchases | 6,735 | 4,416 |
| Rent, water, rates | 8,710 | 5,683 |
| Repairs etc | 4,885 | 7,642 |
| Cleaning | 927 | 804 |
| Insurance | 2,699 | 2,817 |
| Light and heat | 3,410 | 3,466 |
| Telephone | 474 | 724 |
| Bank charges | 247 | 546 |
| Unclaimable VAT | 1,165 | 227 |
| Sundries | 118 | 118 |
| Professional fees | - | 1,250 |
| Depreciation of fixtures and fittings | 3,616 | 3,409 |
| Depreciation of computer equipment | 68 | 89 |
| Loss on disposal of tangible fixed assets | 44 | - |
| Grants to institutions | - | 825 |
| 35,400 | 32,049 | |
| Support costs | ||
| Governance costs | ||
| Accountancy and legal fees | 650 | 650 |
| Total resources expended | 36,050 | 32,699 |
| Net income | 26,388 | 5,004 |
This page does not form part of the statutory financial statements
Page 15