## **Trustees’ Annual Report 2024 - ACT One (1121133)** ## Trustees as of 30 June 2024 Wendy Spencer Natalie Savage Joanne Hancock Nicola Powell Amy North Danielle Starkey Helen Starkey Kevin Spencer Lorna North Adrian Dobson Michelle White James White Rebecca Smith ## Activity The charitable objects remain for the benefit of children and young people in Charnwood, Leicestershire and the surrounding area: to promote education and the arts; and to provide or assist in the provision of facilities for recreation or other leisure time occupation in the interests of social welfare with the object of improving the conditions of life for the young people of the area of benefit without distinction of sex or of political, religious or other opinions. During 2023/24, ACT One has provided the opportunity for young people aged 10-18 years to perform in an annual concert and a full musical production of Bring It On. There have not been any serious reportable incidents during this time. ## Membership Membership of the group has remained consistently in the region of 38 young people during the year. ACT One continues to operate open auditions for new members and also for principal parts within our musical productions. ## Financial The cost of staging musical productions remains as the largest expenditure. Sound financial management is key to ensuring that ACT One continues to be able to afford the opportunity for as many young people as possible to take part. The Trustees have sought to keep membership fees as low as possible given the wider economic context whilst seeking to maintain a working budget that allows us to meet overheads and plan ahead to secure licenses from rights holders to perform. ACT One proactively seek the support from grant awarding bodies, local businesses, and other charitable organisations. During 2023/24, ACT One have been thankful to a number of organisations for their financial support. This has also attracted wider publicity and assisted in highlighting the work that we do. We have been able to use this financial support to fund new audio equipment, costumes, tools for building set, and other expenses linked to the charitable objectives. ACT One remains in a positive financial position. ## Governance ACT One continues to be guided by its constitution. The Trustees meet to ensure that the group is well run, meeting its charitable objectives, well managed financially, and has the required governance structures/policies in place. There have been no changes to the Trustees for 2023/24. ACT One continues to have safeguarding policies in place and every Trustee and volunteer is expected to uphold the highest of standards. ACT One is well placed to continue achieving its charitable objectives for 2024/25. ACT ONE Detailed Ststement of Financial Activities 30-Jun-24 Unrestricted Restricted TOTAL INCOMING RESOURCES Voluntary income Weekly Subscriptions Annual Fees Show Fee Show Tickets Concert Tickets T Shirts DVD'S Raffle Starlight Rent & Electric Show & cOn￿rt Programmes 3,457 2,950 3,457 2,950 5,877 2,671 562 38 1,550 792 287 5,877 2,671 562 38 1,550 792 287 18,184 18,184 Other income Donations & Fundraising Patrons 11,080 245 11,080 245 11.325 11,325 Investment income Bank Interest Re￿iVed 186 186 186 186 Total incoming reSoUr￿S 29.695 29,695 RESOURCES EXPENDED Charitable activities Costumes Printing & Advertising Band Lighting & Sound Scenery & Props Theatre Rental Tshirts & Hoodies DVD'S & Photos Bingo Food Van Hire 1,316 493 1.785 1.704 1,456 3,920 675 1,316 493 1.785 1,704 1,456 3,920 675 337 337 11,686 11,686 Govemance costs Insurance Electricity Performing Rights Sundries Bank Charges Church Rent StoragelLock Up Small Equipment 483 850 2,413 205 89 1,459 4,237 1,903 850 2,413 205 89 1,459 4,237 1.903 11,639 11,639 Totsl ￿sOur￿S expended 23,325 11,639 Net incomel(expenditure) 6,370 18,056 Thls page does not form part of the statutory financial statements REGISTERED CHARITY NUMBER: 1121133 Report of the Trustees and Financial Statements for the year ended 30 June 2024 For Act ONE Taxassist Accountants 2b Derby Road Ashby de la Zouch Leicestsershire LE65 2HE ACT ONE Contents of the Financial Statements Financial Statements for the year ended 30 June 2024 Page 1to2 Report of the Trustees Independent Examinerfs Report Statement of Financial Activities Balance Sheet 5t06 Notes to the Financial Statements 7t09 Detailed Statement of Financial Activities 10t011 Act ONE Report of the Trustees Financial Statements for the year ended 30 June 2024 The tnjstees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charty for the year ended 31 March 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities, issued in March 2005. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charlty number 1121133 Office Address 7 Combe Close Shepshed Leics LE12 9HH Trustees Wendy Mary Spencer Natalie Savage Joanne Hancock Nicola Sian Powell Amy Elizabeth North Danielle Wilson-starkey Independent Examiner TaxAssist Accountsnts 2b Derby Road Ashby de la Zouch LeI￿stershire LE65 2HE Bankers HSBC Kevin Nichofas Spenor Helen Starkey Loma North James Robert White Adrian Philip Dobson M￿helle Tina White STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The charity is Controlled by its goveming document, a deed of trust. Rlsk management The trustees have a duty to identify and review the risks to whth the charity is exposed and to ensure appropriate controls are in pla￿ to provide reasonabte assurance against fraud and e￿0[. OBJECTIVES AND ACTIVITIES Objectives and aims The trustees have the pleasure of submitting their report and the financial statements for the year ended 30 June 2024 Objectives of the charity, principal activities and organisation of our work FOR THE BENEFIT OF CHILDREN AND YOUNG PEOPLE IN CHARNWOOD. LEICESTERSHIRE AND THE SURROUNDING AREA.. TO PROMOTE EDUCATION AND THE ARTS., AND TO PROVIDE OR ASSIST IN THE PROVISION OF FACILITIES FOR RECREATION OR OTHER LEISURE TIME OCCUPATION IN THE INTERESTS OF SOCIAL WELFARE WITH THE OBJECT OF IMPROVING THE CONDITIONS OF LIFE FOR THE YOUNG PEOPLE OF THE AREA OF BENEFIT WITHOUT DISTINCTION OF SEX OR OF POLITICAL. RELIGIOUS OR OTHER OPINIONS. Act ONE Report of the Trustees Financial Ststsments for the year ended 30 June 2024 STATEMENT OF TRUSTEES RESPONSIBILITIES The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Generalty Accepted Accounting Practi￿. Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable organisation and of the incoming resources and application of resources, including the income and expenditure, of the charitsble organisation for that period. In preparing those financial statements, the trustees are required to select suitable accounting policies and then apply them consistently., obseNe the methods and principles in the Charity SORP., make judgements and estimates that are reasonable and prudent prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charrtable company and to enable them to ensure that the financial ststements comply. They are also responsible for safeguarding the assets of the charitable organisation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the Maintenan￿ and integrity of the corporate and financial information included on the charitsble website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other Jurisdictions. ON BEHALF OF THE COMMITTEE: Signature Name of Trustee Date.............................................. Independent Examiner's Report to the Trustees of Act ONE Financial Statements for the year ended 30 June 2024 Respective responsibilities of trustees and examiner The charitys trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 43(2) of the Charities Act 1993 (the 1993 Act)) and that an independent examination is required. Having satisfied myself that the charity is not subject to audit under law and is eligible for independent examination, it is my responsibility to.. examine the accounts under Section 43 of the 1993 Act to follow the procedures laid dovm in the General Directions given by the Charity Commission {under Section 43(7){b) of the 1g93 Act),. and to state whether particular matters have come to my attention. Basls of tho independent examinerfs report My examination was carried out in accordance with the General D1￿ctIonS given by the Charty Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the eviden￿ that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair vievl and the report is limlted to those matters set out in the statements below. Independent examinerfs statement In connection with my examination, NO matter has come to my attention: 1) which gives me reasonable cause to believe that, in any material respec( the requirements to keep accounting records in accordan￿ with Charitiy Commission guidelines,. and to prepare accounts which accord wth the accounts'ng records, comply with the accounting with the methols and principles of the Ststement of Recommended Practice: Accounting and Reporting by Charities have not been met" or 2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Nigel Starkey ATA MIPA - Practi￿ Li￿nCe 244034 TaxAssist Accountants 2b Derby Road Ashby de la Zouch Leicestershire LE65 2HE ?o?C ACT ONE Statement of Financial Activities At 30 June 2024 Notes Unrestricted funds Restrlcted funds 2024 Total funds INCOMING RESOURCES Incoming Resources from generated funds Voluntary income Investment income Income timing differences Total incoming resources 29.695 29,695 29,695 29,695 RESOURCES EXPENDED Charitable Actlvltles: Gifts and Donations Other Charitable purposes Govemance Costs 11,686 11,639 11,686 11.639 Total Resources Expended 23,325 23,325 NET INCOMEI(OUTGOING) RESOURCES RECONCILIATION OF FUNDS 6,370 6,370 Total funds brought forward TOTAL FUNDS CARRIED FORWARD 14.785 14,785 21,155 21,155 The notes fomi part of these financial statements ACT ONE Balance Sheet At 30 June 2024 Notes Unrestricted funds Restricted funds 2024 Total funds FIXED ASSETS Tangible assets CURRENT ASSETS Cash in handlBank Other Debtors 21.447 21,447 21,447 21A47 CREDITORS Re￿Ipt timing dÉfferences 292 292 NET CURRENT ASSETS 21,155 21,155 TOTAL ASSETS LESS CURRENT LIABILITIES 21,155 21,155 CREDITORS Amounts falling due after more than one year NET ASSETS 21,155 21,155 FUNDS Unrestricted funds Restricted funds TOTAL FUNDS 21.155 The notes fom? part of these financial statements ACT ONE Balance Sheet- continued At 30 June 2024 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024. The members have not required the charitable company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordants with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and (a) preparing financial statements which gwe 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 def￿1t 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 organisation. (b) These financial statements have been prepa￿d in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable organisations and with the Financial Reporting Standard for Smaller Entities (effective April 2008). The financial statements were approved by the Board of Trustees on were signed on its behalf by- and Signature Name of Trustee The notes forni part of ttth• financial statements ACT ONE Notes to the Financial Statements At 30 June 2024 1 ACCOUNTING POLICIES Accounting convention The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Companies Act 2006 and the requirements of the Statement of Recommended Practi￿, Accounb'ng and Reporting by Charities. Incoming reSou￿•S All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Resources expended Expenditure is accounted for on an a￿r￿alS basis and has b&n 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. 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. 2 INVESTMENT INCOME 2024 Bank Interest Received 186 3 NET INCOMINGI(OUTGOING) RESOURCES 2024 Net resources are stated after chargingl (crediting): Depreciats'on - owned assets ACT ONE Notes to the Financial Statements- continued At 30 June 2024 4 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees. remuneration or other beneffts for the year ended 30 June 2023 nor for the year ended 30 June 2024. Trustees. Expenses There were no trustees, expenses paid for time or activity neither for the year ended 30 June 2023 nor for the year ended 30 June 2024. Net Movement At 30106124 MOVEMENT IN FUNDS At 117123 in FIAnrlA Unrestricted funds General fund 14,785 6.370 21,155 Restricted funds Restricted TOTAL FUNDS 14,785 6,370 21,155 Net movement in funds, included in the above are as follows: Incoming Resourc88 Resources EX￿nded Movement in Funds Unrestrlcted funds General fund 29,695 23,325 6,370 R•stricted funds Restricted TOTAL FUNDS 29.695 23.325 6,370 10