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 2023
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 2023
| 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 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 31st July 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).
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 Mrs P C Crisp A R Groom Mrs C E Clark (resigned 21.3.2023) Mrs D Dickson G Jermyn M Garrod
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 21st February 2024 and signed on its behalf by:
Page 1
THE LOWESTOFT PLAYERS LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST JULY 2023
M Garrod - 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 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.
Edward Back
Edward Back & Co Mancroft Towers Oulton Broad Lowestoft Suffolk NR32 3PS
22nd February 2024
Page 3
THE LOWESTOFT PLAYERS LIMITED
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST JULY 2023
| 2023 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 14,508 Other trading activities 2 113,732 Investment income 3 2 Other income 27,024 Total 155,266 EXPENDITURE ON Raising funds 4 85,180 Other 44,633 Total 129,813 NET INCOME 25,453 RECONCILIATION OF FUNDS Total funds brought forward 360,348 TOTAL FUNDS CARRIED FORWARD 385,801 |
2022 Total funds £ 9,469 69,188 - 35,236 |
|---|---|
| 113,893 | |
| 56,506 36,321 |
|
| 92,827 | |
| 21,066 339,282 |
|
| 360,348 |
The notes form part of these financial statements
Page 4
THE LOWESTOFT PLAYERS LIMITED
STATEMENT OF FINANCIAL POSITION
31ST JULY 2023
| 2023 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 8 302,314 CURRENT ASSETS Stocks 9 1,731 Debtors 10 2,025 Cash at bank and in hand 111,646 115,402 CREDITORS Amounts falling due within one year 11 (13,248) NET CURRENT ASSETS 102,154 TOTAL ASSETS LESS CURRENT LIABILITIES 404,468 CREDITORS Amounts falling due after more than one year 12 (18,667) NET ASSETS 385,801 FUNDS 14 Unrestricted funds 385,801 TOTAL FUNDS 385,801 |
2022 Total funds £ 312,429 1,036 3,942 88,060 93,038 (20,052) 72,986 385,415 (25,067) 360,348 360,348 360,348 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 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 5
continued...
THE LOWESTOFT PLAYERS LIMITED
STATEMENT OF FINANCIAL POSITION - continued
31ST JULY 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 21st February 2024 and were signed on its behalf by:
M Garrod - 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 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.
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 2023
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 |
2023 £ 111,999 1,733 113,732 2023 £ 2 2023 £ 1,082 2023 £ 11,137 |
2022 £ 67,594 1,594 |
|---|---|---|
| 69,188 | ||
| 2022 £ - 2022 £ 1,128 2022 £ 11,138 |
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st July 2023 nor for the year ended 31st July 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st July 2023 nor for the year ended 31st July 2022.
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 9,469 |
| Other trading activities | 69,188 |
| Other income | 35,236 |
| Total | 113,893 |
| EXPENDITURE ON | |
| Raising funds | 56,506 |
| Other | 36,321 |
continued...
Page 8
THE LOWESTOFT PLAYERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2023
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 2022 Additions At 31st July 2023 DEPRECIATION At 1st August 2022 Charge for year At 31st July 2023 NET BOOK VALUE At 31st July 2023 At 31st July 2022 9. STOCKS Stocks |
Freehold property £ 352,367 - 352,367 70,469 5,751 76,220 276,147 281,898 |
Unrestricted fund £ 92,827 21,066 339,282 360,348 Plant and machinery Totals £ £ 96,520 448,887 1,022 1,022 97,542 449,909 65,989 136,458 5,386 11,137 71,375 147,595 26,167 302,314 30,531 312,429 2023 2022 £ £ 1,731 1,036 |
|---|---|---|
continued...
Page 9
THE LOWESTOFT PLAYERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2023
| 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 £ Production debtors 1,025 Production prepayments 1,000 2,025 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 £ Production creditors (493) Trade creditors 5,573 Receipts in advance 296 Tax 51 VAT 6,207 Other creditors 1,614 13,248 12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2023 £ Bank loans (see note 13) 18,667 13. LOANS An analysis of the maturity of loans is given below: 2023 £ Amounts falling due in more than five years: Repayable by instalments: Bank of Scotland loan account 18,667 14. MOVEMENT IN FUNDS Net movement At 1.8.22 in funds £ £ Unrestricted funds General fund 360,348 25,453 TOTAL FUNDS 360,348 25,453 |
2022 £ 1,942 2,000 3,942 2022 £ 4,289 6,642 462 51 7,602 1,006 20,052 2022 £ 25,067 2022 £ 25,067 At 31.7.23 £ 385,801 |
2022 £ 1,942 2,000 |
|
|---|---|---|---|
| 3,942 | |||
| 2022 £ 4,289 6,642 462 51 7,602 1,006 |
|||
| 20,052 | |||
| 2022 £ 25,067 |
|||
| 385,801 |
continued...
Page 10
THE LOWESTOFT PLAYERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2023
14. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 155,266 155,266 |
Resources Movement expended in funds £ £ (129,813) 25,453 (129,813) 25,453 |
Resources Movement expended in funds £ £ (129,813) 25,453 (129,813) 25,453 |
|---|---|---|---|
| 25,453 |
Comparatives for movement in funds
| At 1.8.21 £ Unrestricted funds General fund 339,282 TOTAL FUNDS 339,282 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 113,893 TOTAL FUNDS 113,893 |
Net movement At in funds 31.7.22 £ £ 21,066 360,348 21,066 360,348 Resources Movement expended in funds £ £ (92,827) 21,066 (92,827) 21,066 |
At 31.7.22 £ 360,348 |
|---|---|---|
| 360,348 | ||
| 21,066 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.8.21 £ 339,282 339,282 |
Net movement in funds £ 46,519 46,519 |
At 31.7.23 £ 385,801 |
|---|---|---|---|
| 385,801 |
continued...
Page 11
THE LOWESTOFT PLAYERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2023
14. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 269,159 269,159 |
Resources Movement expended in funds £ £ (222,640) 46,519 (222,640) 46,519 |
|---|---|---|
15. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st July 2023.
Page 12
THE LOWESTOFT PLAYERS LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST JULY 2023
| INCOME AND ENDOWMENTS Donations and legacies Donations 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 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 Scripts and libretti Freehold property Plant and machinery Other Rates and water Carried forward |
2023 £ 14,508 111,999 1,733 113,732 2 1,020 2,491 1,025 8,070 - 14,418 27,024 155,266 16,830 2,797 9,716 1,757 1,778 7,223 9,510 70 145 2,256 10,755 9,199 925 5,751 5,386 84,098 1,416 1,416 |
2022 £ 9,469 67,594 1,594 |
|---|---|---|
| 69,188 - 1,260 3,955 1,180 3,816 13,425 11,600 |
||
| 35,236 | ||
| 113,893 5,344 3,145 4,683 1,223 1,738 5,613 6,960 1,135 146 1,060 9,165 3,473 556 5,751 5,386 |
||
| 55,378 1,357 1,357 |
This page does not form part of the statutory financial statements
Page 13
THE LOWESTOFT PLAYERS LIMITED
| DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST JULY 2023 Other Brought forward Insurance Light and heat Repairs to property Administrative costs Telephone Noda subscription Repairs and renewals Consultancy, legal and planning fees Support costs Finance Mortgage interest Credit card Total resources expended Net income |
2023 £ 1,416 5,061 13,456 11,483 380 807 303 1,519 10,208 44,633 554 528 1,082 129,813 25,453 |
2022 £ 1,357 4,764 9,802 10,482 1,138 744 167 272 7,595 |
|---|---|---|
| 36,321 712 416 |
||
| 1,128 | ||
| 92,827 | ||
| 21,066 |
This page does not form part of the statutory financial statements
Page 14
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 2023
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 2023
| 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 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 31st July 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).
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 Mrs P C Crisp A R Groom Mrs C E Clark (resigned 21.3.2023) Mrs D Dickson G Jermyn M Garrod
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 21st February 2024 and signed on its behalf by:
Page 1
THE LOWESTOFT PLAYERS LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST JULY 2023
M Garrod - 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 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.
Edward Back
Edward Back & Co Mancroft Towers Oulton Broad Lowestoft Suffolk NR32 3PS
22nd February 2024
Page 3
THE LOWESTOFT PLAYERS LIMITED
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST JULY 2023
| 2023 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 14,508 Other trading activities 2 113,732 Investment income 3 2 Other income 27,024 Total 155,266 EXPENDITURE ON Raising funds 4 85,180 Other 44,633 Total 129,813 NET INCOME 25,453 RECONCILIATION OF FUNDS Total funds brought forward 360,348 TOTAL FUNDS CARRIED FORWARD 385,801 |
2022 Total funds £ 9,469 69,188 - 35,236 |
|---|---|
| 113,893 | |
| 56,506 36,321 |
|
| 92,827 | |
| 21,066 339,282 |
|
| 360,348 |
The notes form part of these financial statements
Page 4
THE LOWESTOFT PLAYERS LIMITED
STATEMENT OF FINANCIAL POSITION
31ST JULY 2023
| 2023 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 8 302,314 CURRENT ASSETS Stocks 9 1,731 Debtors 10 2,025 Cash at bank and in hand 111,646 115,402 CREDITORS Amounts falling due within one year 11 (13,248) NET CURRENT ASSETS 102,154 TOTAL ASSETS LESS CURRENT LIABILITIES 404,468 CREDITORS Amounts falling due after more than one year 12 (18,667) NET ASSETS 385,801 FUNDS 14 Unrestricted funds 385,801 TOTAL FUNDS 385,801 |
2022 Total funds £ 312,429 1,036 3,942 88,060 93,038 (20,052) 72,986 385,415 (25,067) 360,348 360,348 360,348 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 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 5
continued...
THE LOWESTOFT PLAYERS LIMITED
STATEMENT OF FINANCIAL POSITION - continued
31ST JULY 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 21st February 2024 and were signed on its behalf by:
M Garrod - 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 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.
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 2023
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 |
2023 £ 111,999 1,733 113,732 2023 £ 2 2023 £ 1,082 2023 £ 11,137 |
2022 £ 67,594 1,594 |
|---|---|---|
| 69,188 | ||
| 2022 £ - 2022 £ 1,128 2022 £ 11,138 |
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st July 2023 nor for the year ended 31st July 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st July 2023 nor for the year ended 31st July 2022.
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 9,469 |
| Other trading activities | 69,188 |
| Other income | 35,236 |
| Total | 113,893 |
| EXPENDITURE ON | |
| Raising funds | 56,506 |
| Other | 36,321 |
continued...
Page 8
THE LOWESTOFT PLAYERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2023
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 2022 Additions At 31st July 2023 DEPRECIATION At 1st August 2022 Charge for year At 31st July 2023 NET BOOK VALUE At 31st July 2023 At 31st July 2022 9. STOCKS Stocks |
Freehold property £ 352,367 - 352,367 70,469 5,751 76,220 276,147 281,898 |
Unrestricted fund £ 92,827 21,066 339,282 360,348 Plant and machinery Totals £ £ 96,520 448,887 1,022 1,022 97,542 449,909 65,989 136,458 5,386 11,137 71,375 147,595 26,167 302,314 30,531 312,429 2023 2022 £ £ 1,731 1,036 |
|---|---|---|
continued...
Page 9
THE LOWESTOFT PLAYERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2023
| 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 £ Production debtors 1,025 Production prepayments 1,000 2,025 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 £ Production creditors (493) Trade creditors 5,573 Receipts in advance 296 Tax 51 VAT 6,207 Other creditors 1,614 13,248 12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2023 £ Bank loans (see note 13) 18,667 13. LOANS An analysis of the maturity of loans is given below: 2023 £ Amounts falling due in more than five years: Repayable by instalments: Bank of Scotland loan account 18,667 14. MOVEMENT IN FUNDS Net movement At 1.8.22 in funds £ £ Unrestricted funds General fund 360,348 25,453 TOTAL FUNDS 360,348 25,453 |
2022 £ 1,942 2,000 3,942 2022 £ 4,289 6,642 462 51 7,602 1,006 20,052 2022 £ 25,067 2022 £ 25,067 At 31.7.23 £ 385,801 |
2022 £ 1,942 2,000 |
|
|---|---|---|---|
| 3,942 | |||
| 2022 £ 4,289 6,642 462 51 7,602 1,006 |
|||
| 20,052 | |||
| 2022 £ 25,067 |
|||
| 385,801 |
continued...
Page 10
THE LOWESTOFT PLAYERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2023
14. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 155,266 155,266 |
Resources Movement expended in funds £ £ (129,813) 25,453 (129,813) 25,453 |
Resources Movement expended in funds £ £ (129,813) 25,453 (129,813) 25,453 |
|---|---|---|---|
| 25,453 |
Comparatives for movement in funds
| At 1.8.21 £ Unrestricted funds General fund 339,282 TOTAL FUNDS 339,282 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 113,893 TOTAL FUNDS 113,893 |
Net movement At in funds 31.7.22 £ £ 21,066 360,348 21,066 360,348 Resources Movement expended in funds £ £ (92,827) 21,066 (92,827) 21,066 |
At 31.7.22 £ 360,348 |
|---|---|---|
| 360,348 | ||
| 21,066 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.8.21 £ 339,282 339,282 |
Net movement in funds £ 46,519 46,519 |
At 31.7.23 £ 385,801 |
|---|---|---|---|
| 385,801 |
continued...
Page 11
THE LOWESTOFT PLAYERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2023
14. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 269,159 269,159 |
Resources Movement expended in funds £ £ (222,640) 46,519 (222,640) 46,519 |
|---|---|---|
15. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st July 2023.
Page 12
THE LOWESTOFT PLAYERS LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST JULY 2023
| INCOME AND ENDOWMENTS Donations and legacies Donations 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 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 Scripts and libretti Freehold property Plant and machinery Other Rates and water Carried forward |
2023 £ 14,508 111,999 1,733 113,732 2 1,020 2,491 1,025 8,070 - 14,418 27,024 155,266 16,830 2,797 9,716 1,757 1,778 7,223 9,510 70 145 2,256 10,755 9,199 925 5,751 5,386 84,098 1,416 1,416 |
2022 £ 9,469 67,594 1,594 |
|---|---|---|
| 69,188 - 1,260 3,955 1,180 3,816 13,425 11,600 |
||
| 35,236 | ||
| 113,893 5,344 3,145 4,683 1,223 1,738 5,613 6,960 1,135 146 1,060 9,165 3,473 556 5,751 5,386 |
||
| 55,378 1,357 1,357 |
This page does not form part of the statutory financial statements
Page 13
THE LOWESTOFT PLAYERS LIMITED
| DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST JULY 2023 Other Brought forward Insurance Light and heat Repairs to property Administrative costs Telephone Noda subscription Repairs and renewals Consultancy, legal and planning fees Support costs Finance Mortgage interest Credit card Total resources expended Net income |
2023 £ 1,416 5,061 13,456 11,483 380 807 303 1,519 10,208 44,633 554 528 1,082 129,813 25,453 |
2022 £ 1,357 4,764 9,802 10,482 1,138 744 167 272 7,595 |
|---|---|---|
| 36,321 712 416 |
||
| 1,128 | ||
| 92,827 | ||
| 21,066 |
This page does not form part of the statutory financial statements
Page 14
THE LOWESTOFT PLAYERS LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST JULY 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 31st July 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).
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 Mrs P C Crisp A R Groom Mrs C E Clark (resigned 21.3.2023) Mrs D Dickson G Jermyn M Garrod
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 21st February 2024 and signed on its behalf by:
Page 1
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST JULY 2023
THE LOWESTOFT PLAYERS LIMITED
M Garrod - 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 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 2. 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
22nd February 2024
Page 3