REGISTERED COMPANY NUMBER: 06798898 (England and Wales) REGISTERED CHARITY NUMBER: 1130421
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2021
FOR
THE LOWESTOFT PLAYERS LIMITED
(A COMPANY LIMITED BY GUARANTEE)
Edward Back & Co Mancroft Towers Oulton Broad Lowestoft Suffolk NR32 3PS
THE LOWESTOFT PLAYERS LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Statement of Financial Position | 5 | to | 6 |
| Notes to the Financial Statements | 7 | to | 12 |
| Detailed Statement of Financial Activities | 13 | to | 14 |
THE LOWESTOFT PLAYERS LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST JULY 2021
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 31st July 2021. 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
Charitable activities
The charitable activity of the company during the year was that of an amateur dramatic society.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
06798898 (England and Wales)
Registered Charity number
1130421
Registered office
12 Grove Road Lowestoft Suffolk NR32 1EB
Trustees
N Garrod Miss J Wright M T Wilson J Atkin S R Wilson R Takman S Clark (resigned 6.9.2021) R J Doy (resigned 6.9.2021) T Toms (resigned 6.9.2021) Mrs P C Crisp A R Groom Mrs C E Clark
Company Secretary
Mrs G Warren
Independent Examiner
Edward Back Edward Back & Co Mancroft Towers Oulton Broad Lowestoft Suffolk NR32 3PS
Approved by order of the board of trustees on 8th March 2022 and signed on its behalf by:
Page 1
THE LOWESTOFT PLAYERS LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST JULY 2021
Miss J Wright - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE LOWESTOFT PLAYERS LIMITED
Independent examiner's report to the trustees of The Lowestoft Players Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st July 2021.
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.
Edward Back Edward Back & Co Mancroft Towers Oulton Broad Lowestoft Suffolk NR32 3PS
8th March 2022
Page 3
THE LOWESTOFT PLAYERS LIMITED
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST JULY 2021
| 2021 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 35,521 Other trading activities 2 - Investment income 3 13 Other income 37,040 Total 72,574 EXPENDITURE ON Raising funds 4 22,682 Other 48,571 Total 71,253 NET INCOME 1,321 RECONCILIATION OF FUNDS Total funds brought forward 337,961 TOTAL FUNDS CARRIED FORWARD 339,282 |
2020 Total funds £ 2,554 102,902 14 25,724 |
|---|---|
| 131,194 110,757 16,192 |
|
| 126,949 | |
| 4,245 333,716 |
|
| 337,961 |
The notes form part of these financial statements
Page 4
THE LOWESTOFT PLAYERS LIMITED
STATEMENT OF FINANCIAL POSITION
31ST JULY 2021
| 2021 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 8 308,230 CURRENT ASSETS Stocks 9 650 Debtors 10 4,647 Cash at bank and in hand 82,235 87,532 CREDITORS Amounts falling due within one year 11 (25,013) NET CURRENT ASSETS 62,519 TOTAL ASSETS LESS CURRENT LIABILITIES 370,749 CREDITORS Amounts falling due after more than one year 12 (31,467) NET ASSETS 339,282 FUNDS 14 Unrestricted funds 339,282 TOTAL FUNDS 339,282 |
2020 Total funds £ 307,126 500 4,686 87,390 92,576 (14,931) 77,645 384,771 (46,810) 337,961 337,961 337,961 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2021 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 5
continued...
THE LOWESTOFT PLAYERS LIMITED
STATEMENT OF FINANCIAL POSITION - continued
31ST JULY 2021
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 8th March 2022 and were signed on its behalf by:
J Wright - Trustee
The notes form part of these financial statements
Page 6
THE LOWESTOFT PLAYERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2021
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.
Financial reporting standard 102 - reduced disclosure exemptions
The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost Plant and machinery - 15% 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 7
THE LOWESTOFT PLAYERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2021
2. OTHER TRADING ACTIVITIES
| Sale of tickets Net programme sales 3. INVESTMENT INCOME Deposit account interest 4. RAISING FUNDS Raising donations and legacies Support costs 5. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
2021 £ - - - 2021 £ 13 2021 £ 625 2021 £ 11,577 |
2020 £ 101,997 905 |
|---|---|---|
| 102,902 | ||
| 2020 £ 14 2020 £ 1,754 2020 £ 11,724 |
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st July 2021 nor for the year ended 31st July 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st July 2021 nor for the year ended 31st July 2020.
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 2,554 |
| Other trading activities | 102,902 |
| Investment income | 14 |
| Other income | 25,724 |
| Total | 131,194 |
| EXPENDITURE ON | |
| Raising funds | 110,757 |
| Other | 16,192 |
continued...
Page 8
THE LOWESTOFT PLAYERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2021
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 8. TANGIBLE FIXED ASSETS COST At 1st August 2020 Additions At 31st July 2021 DEPRECIATION At 1st August 2020 Charge for year At 31st July 2021 NET BOOK VALUE At 31st July 2021 At 31st July 2020 9. STOCKS Stocks |
Freehold property £ 330,302 12,034 342,336 58,543 6,175 64,718 277,618 271,759 |
Unrestricted fund £ 126,949 4,245 333,716 337,961 Plant and machinery Totals £ £ 90,567 420,869 647 12,681 91,214 433,550 55,200 113,743 5,402 11,577 60,602 125,320 30,612 308,230 35,367 307,126 2021 2020 £ £ 650 500 |
|---|---|---|
continued...
Page 9
THE LOWESTOFT PLAYERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2021
10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Production debtors Production prepayments 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 13) Production creditors Trade creditors Receipts in advance Tax VAT 12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 13) 13. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank mortgage Amounts falling due in more than five years: Repayable by instalments: Bank mortgage Bank of Scotland loan account |
2021 £ 336 4,311 4,647 2021 £ - 10,347 8,444 592 51 5,579 25,013 2021 £ 31,467 2021 £ - - 31,467 31,467 |
2020 £ 558 4,128 |
|
|---|---|---|---|
| 4,686 | |||
| 2020 £ 8,000 6,011 129 546 51 194 |
|||
| 14,931 | |||
| 2020 £ 46,810 |
|||
| 2020 £ 8,000 |
|||
| 14,810 32,000 46,810 |
continued...
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THE LOWESTOFT PLAYERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2021
14. MOVEMENT IN FUNDS
| At 1.8.20 £ Unrestricted funds General fund 337,961 TOTAL FUNDS 337,961 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 72,574 TOTAL FUNDS 72,574 Comparatives for movement in funds At 1.8.19 £ Unrestricted funds General fund 333,716 TOTAL FUNDS 333,716 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 131,194 TOTAL FUNDS 131,194 |
Net movement At in funds 31.7.21 £ £ 1,321 339,282 1,321 339,282 Resources Movement expended in funds £ £ (71,253) 1,321 (71,253) 1,321 Net movement At in funds 31.7.20 £ £ 4,245 337,961 4,245 337,961 Resources Movement expended in funds £ £ (126,949) 4,245 (126,949) 4,245 |
|---|---|
continued...
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THE LOWESTOFT PLAYERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2021
14. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.8.19 £ 333,716 333,716 |
Net movement in funds £ 5,566 5,566 |
At 31.7.21 £ 339,282 |
|---|---|---|---|
| 339,282 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 203,768 | (198,202) | 5,566 |
| TOTAL FUNDS | 203,768 | (198,202) | 5,566 |
15. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st July 2021.
Page 12
THE LOWESTOFT PLAYERS LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST JULY 2021
| INCOME AND ENDOWMENTS Donations and legacies Donations Gift aid Other trading activities Sale of tickets Net programme sales Investment income Deposit account interest Other income Rents received Subscriptions Scenery and costume hire and sales Miscellaneous income Show levy fees Grants Bar sales Total incoming resources EXPENDITURE Other trading activities Theatre costs Costumes Scenery and properties Printing Publicity Licences and royalties Musical expenses Transport and postage Third party show costs Production sundries Special features and effects Non-reclaimable show VAT Past production adjustments Freehold property Plant and machinery |
2021 £ 32,145 3,376 35,521 - - - 13 320 2,367 280 72 - 33,842 159 37,040 72,574 - - - - - - - - - - - 10,412 68 6,175 5,402 22,057 |
2020 £ 2,554 - |
|---|---|---|
| 2,554 101,997 905 |
||
| 102,902 14 290 2,821 680 6,096 617 11,500 3,720 |
||
| 25,724 | ||
| 131,194 33,720 5,113 5,241 2,200 4,925 8,198 8,060 1,236 3,962 402 11,250 12,972 - 5,546 6,178 |
||
| 109,003 |
This page does not form part of the statutory financial statements
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THE LOWESTOFT PLAYERS LIMITED
| Other trading activities Other Rates and water Insurance Light and heat Repairs to property Administrative costs Telephone Noda subscription Repairs and renewals Sundry expenses Legal and planning fees Taxation Support costs Finance Mortgage interest Credit card Total resources expended Net income |
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST JULY 2021 |
2021 £ 945 4,610 3,322 37,551 269 1,022 200 188 284 180 - 48,571 545 80 625 71,253 1,321 |
2020 £ 1,191 4,601 5,223 2,420 851 1,112 - 494 - 180 120 |
|---|---|---|---|
| 16,192 1,285 469 |
|||
| 1,754 | |||
| 126,949 | |||
| 4,245 |
This page does not form part of the statutory financial statements
Page 14