2021-08-31-accounts - The Academy For Theatre Arts Ltd

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REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR TO 31 AUGUST 2021

FOR

THE ACADEMY FOR THEATRE ARTS LIMITED

(A COMPANY LIMITED BY GUARANTEE)

THE ACADEMY FOR THEATRE ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

CONTENTS OF THE FINANCIAL STATEMENTS For the Year to 31 AUGUST 2021

	Page
Company Information	1
Report of the Trustees	2 - 3
Statement of Financial Activities	4
Balance Sheet	5
Notes to the Financial Statements	6 - 11
Independent Examiner’s Report	11

THE ACADEMY FOR THEATRE ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

COMPANY INFORMATION For the Year to 31 August 2021

TRUSTEES:	Philip James Alcock
	Derrick Adams
REGISTERED OFFICE:	20 Moorland Road
	Burslem
	Stoke on Trent
	Staffordshire
	ST6 1DW
CHARITY REG. NO.	1124469
GOVERNMENT DOCUMENT:	Memorandum and articles of association
LEGAL FORM:	Limited by guarantee
REGISTERED NUMBER:	06545816 (England and Wales)
ACCOUNTANTS:	A Wood and Co LLP
	Chartered Accountants
	20 Moorland Road
	Burslem
	Stoke on Trent
	ST6 1DW

THE ACADEMY FOR THEATRE ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES For the Year to 31 August 2021

Objects, Achievements and Activities for the Public Benefit

The charity is established to advance the education and training of the public in areas of social and economic deprivation (which are in the Midlands) in the performing arts, in particular in music and theatre. It did this by:

stimulating the advancement of musical and theatrical education, training or retraining, particularly, but not exclusively, among young people and unemployed people; and providing unemployed people with work experience;
advancing public education by the promotion of education drama and other arts, especially those activities which seek to make the arts relevant to the community, including the arts of drama, mime, dramatic improvisation, literature, dance, singing, and music.

The trustees confirm that they have performed to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the aims and objectives and in planning future activities.

Organisation

The trustees and management board who served during the year and since the year-end are set out on page 1. The trustees, who are also members of the management board, are elected on an annual basis.

Activities Review and Development

The charity was incorporated on 27 March 2008. On 11 June 2008 The Academy for Theatre Arts Ltd was awarded charitable status.

Finances

The attached accounts show the current state of finances, which the trustees consider to be satisfactory.

Principal Funding

The main source of funding is the provision of educational services.

Reserves

The Board has reviewed the reserves of the Charity. This review encompassed the nature of the income and expenditure streams, the need to match variable income with fixed commitments and the nature of the reserves. The review concluded that reserves are supported by a directors loan account.

The period-end position shows that unrestricted reserves are (£2,333)

THE ACADEMY FOR THEATRE ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES For the Year to 31 August 2021

Risk Management

The Board has examined the major strategic, business and operations risks, which the charity faces and confirms that systems have been established so that the necessary steps can be taken to mitigate these risks.

Responsibilities of the Trustees

The Charities Act 2006 requires the trustees to prepare accounts for each financial year which give a true and fair view of the charity’s financial activities during the year and its financial position at the end of the year.

In preparing the accounts the trustees should follow the best practice and:

Select suitable accounting policies and apply them consistently;
Make judgments and estimates that are reasonable and prudent
Follow the recommendations of the Charity Commission and of the accounting profession with regard to form and content of the accounts, or to disclose and explain any departures therefrom; and
Prepare the accounts on the going concern basis unless it is appropriate to assume that the charity will be able to continue to meet its objectives.

The board of trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ascertain the financial position of the charity and which enable them to ensure that the accounts comply with The disclosure regulations. They are also responsible for safeguarding the charity’s assets, and hence for taking reasonable steps for the prevention and detection of error, fraud and other Irregularities.

On behalf of the Trustees

Signed……………………………….

Name -

P.J. Alcock

Dated - 16 May 2022

THE ACADEMY FOR THEATRE ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITIES For the Year to 31 August 2021

Note INCOMING RESOUCES INCOMING RESOURCES FROM GENERATED FUNDS: Activities for generating funds: Tuition Fees Ticket Sales Donations COVID 19 Grants received Room Hire TOTAL INCOMING RESOURCES RESOURCES EXPENDED Costs of Generating Funds Governance Costs 10 Charitable Activities 10 Other Resources Expended TOTAL RESOURCES EXPENDED NET INCOMING RESOURCES – NET INCOME FOR THE PERIOD 1 TOTAL UNRESTRICTED FUNDS AT 31 August 2020 12 TOTAL UNRESTRICTED FUNDS AT 31 AUGUST 2021	Unrestricted fund £ 138,826 2,246 670 55,106 45,350 242,198 - 1,080 199,357 200,437 41,761 (44,094) (2,333)	Total £ 138,826 2,246 670 55,106 45,350 242,198	Year to 31.08.20 Total £ 120,553 - 3,990 60,782 4,195
			189,520
		- 1,080 199,357	- 1,080 170,194
		200,437	171,274
		41,761	18,246
		(44,094)	(44,094)
		(2,333)

The charity has no recognised gains or losses other than the net movement in funds for the year.

The notes form part of these financial statements

THE ACADEMY FOR THEATRE ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

BALANCE SHEET 31 August 2021

Fixed assets Tangible assets 4 Current assets Bank Debtors 5 Creditors: Amounts falling due within one year 6 NET CURRENT ASSETS (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES Unrestricted (deficit)/funds	£ 69,055 - 69,055 86,347	2021 £ 14,959 (17,292)		£ 28,925 - 28,925 85,287	2020 £ 12,268 (56,362)

		(2,333)			(44094)
		(2,333)			(44094)

These accounts have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

For the year ending 31 August 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The company is not required to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

ON BEHALF OF THE BOARD:

.......................................................... Trustee - P.J. Alcock Dated – 16 May 2022

The notes form part of these financial statements

THE ACADEMY FOR THEATRE ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS For the Year to 31 August 2021

General information

The company is registered in England The address of the registered office is: 20 Moorland Road Burslem Stoke on Trent ST6 1DW The principal place of business is Bradwell Community Education Centre Riceyman Road Newcastle ST5 8LF

1. ACCOUNTING POLICIES

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A – ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when: The amount of revenue can be reliably measured; It is probable that future economic benefits will flow to the entity; And specific criteria have been met for each of the company’s activities.

Resources Expended

where applicable.

Going Concern

timescale, a decision to liquidate the company would need to be implemented to avoid Insolvent trading. The directors are willing to support the company for the foreseeable future.

The notes form part of these financial statements

THE ACADEMY FOR THEATRE ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS For the Year to 31 August 2021

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 - 15% on reducing balance basis Office equipment - 20% on straight line basis

Fund Accounting

Unrestricted funds are funds that the trustees are free to use in accordance with the objects of the charity.

2. NET INCOMING RESOURCES

Net incoming resources are stated after charging:

Depreciation - owned assets Reporting Accountant’s Fees	2021 2,897 1,080	2020 2,286 1,080

3. TAXATION

Analysis of the tax charge

As a charity The Academy for Theatre Arts is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity

The notes form part of these financial statements

THE ACADEMY FOR THEATRE ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS For the Year to 31 August 2021

4. TANGIBLE FIXED ASSETS

Fixtures & Fittings Office Equipment £ £ 23,974 4,273 4,848 740 28,822 5,013 11,706 4,273 2,440 457 14,1464,730 14,676 283 12,268- 2021 - 2021 £ 1,963 83,484 900 86,347		Total
£ 23,974 4,848 28,822 11,706 2,440 14,146 14,676 12,268	£ 28,247 5,588 33,835 15,979 2,897 18,876 14,959 12,268 2020 - 2020 £ 903 83,484 900 85,287	£ 28,247 5,588
		33,835
		15,979 2,897
		18,876

The notes form part of these financial statements

THE ACADEMY FOR THEATRE ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS For the Year to 31 August 2021

7. TRUSTEES REMUNERATION AND RELATED PARTIES

Neither trustee nor any person connected to them has received or is due to receive any remuneration for the year directly or indirectly from the charity’s funds. P J Alcock had a directors loan account of £83,484 (2020-£83,484) at the Balance Sheet date.

8. STAFF NUMBER AND COSTS

The Charity employed 2 administrative persons and 6 others during the financial period at a cost of £101,011.

9. LIABILITY OF MEMBERS

The liability of the members as set out in the Memorandum of Association of the company is as follows:

“ Every member of the Charity undertakes to contribute such amount as may be required (not exceeding £10) to the Charity’s assets if it should be wound up while he or she is a member, or within one year after he or she ceases to be a member, for payment of the Charity’s debts and liabilities contracted before he or she ceases to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributories among themselves.”

9 The notes form part of these financial statements

THE ACADEMY FOR THEATRE ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS For the Year to 31 August 2021

10 TOTAL RESOURCES EXPENDED

Tutors Showcase performances Light heat and power Rent and rates Repairs and maintenance Theatre trip Printing, postage and stationery Wages Cleaning Staff Training Advertising Accountancy fees Insurance Sundry expenses Telephone Bank charges Course director Travel and subsistence Professional services Depreciation: Fixtures and fittings Office equipment	Charitable Activities Governance 2021 Total Year to 31.08.20 Total £ £ £ £ 52,851 - 52,851 31,604 621 - 621 2,687 25,819 - 25,819 25,430 396 396 - 4,650 - 4,650 1,398 - - - - 3,691 - 3,691 3,471 101,011 101,011 97,540 - - - - - - - - 1,376 - 1,376 1,333 - 1,080 1,080 1,080 2,134 2,134 1,687 1,799 1,799 1,236 2,040 - 2,040 1,450 72 72 72 - - - - - - - - - - - - 2,897 - 2,897 2,286 - - - -
	199.357 1,080 200,437 171,274

The notes form part of these financial statements

THE ACADEMY FOR THEATRE ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS For the Year to 31 August 2021

11 INCOMING RESOURCES FROM ACTIVITIES TO FURTHER THE CHARITY’S OBJECTS

INCOME: Student fees Ticket sales Donations Room hire	Unrestricted £ 138,826 2,246 670 45,350 187,092	2021 Year to 31.08.20 Total Total £ £ 138,826 120,553 2,246 - 670 3,990 45,350 4,195
		187,092 128,738

12 RESERVES

At 1 September 2020 Surplus for the period At 31 August 2021	Unrestricted funds £ (44,094) 41,761
	(2,333)

11 The notes form part of the financial statements

THE ACADEMY FOR THEATRE ARTS LIMITED

(A COMPANY LIMITED BY GUARANTEE

Independent Examiner’s Report To The Trustees Of The Academy For Theatre Arts Limited

I report on the accounts of the company for the year to 31[st] August 2021, which are set out on pages 1 to 11.

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

Examine the accounts under section 145 of the 2011 Act;
To follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
To state whether particular matters have come to my attention.

Basis of independent examiner’s report

My examination was carried out in accordance with the General Directions given by the Charity 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 the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

Which gives me reasonable cause to believe that, in any material respect, the requirements
a) To keep accounting records in accordance with section 386 of the Companies Act 2006; and
b) To prepare accounts which accord with the accounting records, comply with the accounting requirements of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities (revised 2005) have not been met.

No other matter has come to my attention in connection with my examination to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. A.C. Riley ACA

16 May 2022

A Wood and Co LLP Chartered Accountants 20 Moorland Road Burslem Stoke on Trent Staffordshire ST6 1DW