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 2024
Brown & Co. 9 Sparken Hill Worksop Nottinghamshire S80 1AX
ACORN COMMUNITY THEATRE LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 30 APRIL 2024
| 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 | 15 |
| Detailed Statement of Financial Activities | 16 | to | 17 |
ACORN COMMUNITY THEATRE LIMITED
REFERENCE AND ADMINISTRATIVE DETAILS for the Year Ended 30 APRIL 2024
| TRUSTEES | Mrs Hayla Alison Hawes |
|---|---|
| Mrs Janet Elizabeth Hurst | |
| Miss Gillian Marjorie Wenger | |
| Dr Ian Richard McKeer | |
| Mr John Edward Murdoch | |
| Mr Andrew Darksus (resigned 12.1.2024) | |
| Deacon Emily Hoe-Cook | |
| Mrs Jeanette Adams | |
| 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 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 30 April 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).
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. Twenty four events took place with a total of fifty four performances. These included four Theatre Weeks and three Schools Weeks; both for young people to put on a play a week. The events were in four broad categories; drama, dance, variety and popular music. The theatre is also used for rehearsals prior to events. Two of the founder groups rehearse regularly including The Young Theatre Company that teaches young people to act, sing and dance, enhancing their abilities and wellbeing.
The comfort of volunteers, users and the public will be significantly improved as a result of replacing the fifty year old gas boiler with a modern one using thermostatic controls. The auditorium is now heated and cooled using air conditioning units. This is anticipated to reduce the building's carbon emissions and its energy consumption. A fundraising group was formed with the aim of contributing to the refurbishment of the toilet and kitchen facilities.
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.
Page 2
ACORN COMMUNITY THEATRE LIMITED
REPORT OF THE TRUSTEES
for the Year Ended 30 APRIL 2024
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.
Directors and trustees
Trustees can be elected at the AGM, nominated by one of the three founder groups or the landlord or co-opted by the board as stipulated in the M&A. Co-opted trustees are then subject to election at the next AGM.
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 23 October 2024 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 2024.
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
23 October 2024
Page 4
ACORN COMMUNITY THEATRE LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
for the Year Ended 30 APRIL 2024
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 7,661 Charitable activities Operation of theatre 43,764 Other trading activities 2 - Investment income 3 122 Total 51,547 EXPENDITURE ON Raising funds - Charitable activities Operation of theatre 47,831 Total 47,831 NET INCOME 3,716 RECONCILIATION OF FUNDS Total funds brought forward 104,427 TOTAL FUNDS CARRIED FORWARD 108,143 |
Restricted funds £ 1,085 - 1,025 - 2,110 305 50 355 1,755 3,190 4,945 |
2024 Total funds £ 8,746 43,764 1,025 122 53,657 305 47,881 48,186 5,471 107,617 113,088 |
2023 Total funds £ 3,238 59,098 - 102 |
|---|---|---|---|
| 62,438 | |||
| - 36,050 |
|||
| 36,050 | |||
| 26,388 81,229 |
|||
| 107,617 |
The notes form part of these financial statements
Page 5
ACORN COMMUNITY THEATRE LIMITED
BALANCE SHEET
30 APRIL 2024
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 7 70,128 CURRENT ASSETS Stocks 8 1,345 Debtors 9 5,549 Cash at bank and in hand 37,231 44,125 CREDITORS Amounts falling due within one year 10 (6,110) NET CURRENT ASSETS 38,015 TOTAL ASSETS LESS CURRENT LIABILITIES 108,143 NET ASSETS 108,143 FUNDS 11 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ - - - 4,945 4,945 - 4,945 4,945 4,945 |
2024 Total funds £ 70,128 1,345 5,549 42,176 49,070 (6,110) 42,960 113,088 113,088 108,143 4,945 113,088 |
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 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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 2024
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 23 October 2024 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 2024
| 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 |
2024 £ 6,898 6,898 (36,760) 122 (36,638) (29,740) 71,916 42,176 |
2023 £ 42,163 42,163 (28,926) 102 (28,824) 13,339 58,577 71,916 |
|---|---|---|
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 2024
| 1. | RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM | RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM | OPERATING ACTIVITIES | OPERATING ACTIVITIES |
|---|---|---|---|---|
| 2024 | 2023 | |||
| £ | £ | |||
| Net income for the reporting period (as per the Statement of Financial | ||||
| Activities) | 5,471 | 26,388 | ||
| Adjustments for: | ||||
| Depreciation charges | 8,331 | 3,684 | ||
| Loss on disposal of fixed assets | 42 | 44 | ||
| Interest received | (122) | (102) | ||
| Decrease in stocks | 605 | 400 | ||
| (Increase)/decrease in debtors | (2,570) | 4,128 | ||
| (Decrease)/increase in creditors | (4,859) | 7,621 | ||
| Net cash provided by operations | 6,898 | 42,163 | ||
| 2. | ANALYSIS OF CHANGES IN NET FUNDS | |||
| At 1.5.23 | Cash flow | At 30.4.24 | ||
| £ | £ | £ | ||
| Net cash | ||||
| Cash at bank and in hand | 71,916 | (29,740) | 42,176 | |
| 71,916 | (29,740) | 42,176 | ||
| Total | 71,916 | (29,740) | 42,176 |
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 2024
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 2024
2. OTHER TRADING ACTIVITIES
| 2. | OTHER TRADING ACTIVITIES | ||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Fundraising events | 1,025 | - | |
| 3. | INVESTMENT INCOME | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Interest receivable | 122 | 102 | |
| 4. | NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | |||
| 2024 | 2023 | ||
| £ | £ | ||
| Depreciation - owned assets | 8,331 | 3,684 | |
| Deficit on disposal of fixed assets | 42 | 44 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 April 2024 nor for the year ended 30 April 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 April 2024 nor for the year ended 30 April 2023.
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 1,606 Charitable activities Operation of theatre 59,098 Investment income 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 |
Restricted funds £ 1,632 - - 1,632 - 1,632 1,558 |
Total funds £ 3,238 59,098 102 |
|---|---|---|
| 62,438 | ||
| 36,050 | ||
| 26,388 81,229 |
continued...
Page 11
ACORN COMMUNITY THEATRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 APRIL 2024
| 6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted fund funds £ £ TOTAL FUNDS CARRIED FORWARD 104,427 3,190 7. TANGIBLE FIXED ASSETS Fixtures and Computer fittings equipment £ £ COST At 1 May 2023 127,179 1,740 Additions 36,231 529 Disposals - (648) At 30 April 2024 163,410 1,621 DEPRECIATION At 1 May 2023 85,788 1,390 Charge for year 8,122 209 Eliminated on disposal - (606) At 30 April 2024 93,910 993 NET BOOK VALUE At 30 April 2024 69,500 628 At 30 April 2023 41,391 350 8. STOCKS 2024 £ Stock 1,345 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 £ VAT 5,549 Sundry debtors prepayments - 5,549 |
Total funds £ 107,617 Totals £ 128,919 36,760 (648) 165,031 87,178 8,331 (606) 94,903 70,128 41,741 2023 £ 1,950 2023 £ - 2,979 2,979 |
Total funds £ |
|---|---|---|
| 107,617 | ||
continued...
Page 12
ACORN COMMUNITY THEATRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 APRIL 2024
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors VAT MOVEMENT IN FUNDS Unrestricted funds General fund Restricted funds Charities Aid Foundation fund Toilet refurbishment fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Charities Aid Foundation fund Toilet refurbishment fund TOTAL FUNDS |
At 1.5.23 £ 104,427 1,175 2,015 3,190 107,617 Incoming resources £ 51,547 - 2,110 2,110 53,657 |
2024 2023 £ £ 6,110 10,555 - 414 6,110 10,969 Net movement At in funds 30.4.24 £ £ 3,716 108,143 (50) 1,125 1,805 3,820 1,755 4,945 5,471 113,088 Resources Movement expended in funds £ £ (47,831) 3,716 (50) (50) (305) 1,805 (355) 1,755 (48,186) 5,471 |
|---|---|---|
11. MOVEMENT IN FUNDS
continued...
Page 13
ACORN COMMUNITY THEATRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 APRIL 2024
11. MOVEMENT IN FUNDS - continued
Comparatives for 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 | |
| Comparative 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 | |
| 12. | CAPITAL COMMITMENTS | |||
| 2024 | 2023 | |||
| £ | £ | |||
| Contracted but not provided for in the financial statements | - | 4,670 | ||
| 13. | RELATED PARTY DISCLOSURES |
There were no related party transactions for the year ended 30 April 2024.
continued...
Page 14
ACORN COMMUNITY THEATRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 APRIL 2024
14. POST BALANCE SHEET EVENTS
No events have taken place since the end of the year which need to be shown in these accounts.
Page 15
ACORN COMMUNITY THEATRE LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 30 APRIL 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 3,746 | 2,188 |
| Grants | 5,000 | - |
| Other grants | - | 1,050 |
| 8,746 | 3,238 | |
| Other trading activities | ||
| Fundraising events | 1,025 | - |
| Investment income | ||
| Interest receivable | 122 | 102 |
| Charitable activities | ||
| Events hire/income | 31,144 | 43,063 |
| Bar and kiosk takings | 12,620 | 16,035 |
| 43,764 | 59,098 | |
| Total incoming resources | 53,657 | 62,438 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Fundraising costs | 305 | - |
| Charitable activities | ||
| Event costs | 1,901 | 2,302 |
| Bar and kiosk purchases | 5,835 | 6,735 |
| Rent, water, rates | 8,614 | 8,710 |
| Repairs etc | 11,944 | 4,885 |
| Cleaning | 630 | 927 |
| Insurance | 3,376 | 2,699 |
| Light and heat | 3,341 | 3,410 |
| Telephone | 552 | 474 |
| Bank charges | 204 | 247 |
| Unclaimable VAT | 2,193 | 1,165 |
| Sundries | 118 | 118 |
| Depreciation of fixtures and fittings | 8,122 | 3,616 |
| Depreciation of computer equipment | 209 | 68 |
| Loss on disposal of tangible fixed assets | 42 | 44 |
| Grants to individuals | 50 | - |
| 47,131 | 35,400 | |
| Support costs | ||
| Governance costs | ||
| Accountancy and legal fees | 750 | 650 |
This page does not form part of the statutory financial statements
Page 16
ACORN COMMUNITY THEATRE LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 30 APRIL 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Total resources expended | 48,186 | 36,050 |
| Net income | 5,471 | 26,388 |
This page does not form part of the statutory financial statements
Page 17