Lowestoft Players Report - Financial Year 2023-2024.
During the financial year 2023-2024 the Players presented three productions, the musicals Elf and Kipps and the pantomime Cinderella.
The company directors of the Lowestoft Players have been well supported by the efforts of both the Operational Management Group and Productions Management Group who both continue to look after the day-to-day running of the society as well as look at ways to enhance our offering and maintain and develop our buildings.
The OMG are pleased to report a positive year in terms of external events and income to support the running of the buildings. Purchases of technical equipment have been made as well as some smaller purchases through grants. General overheads continue to rise, and the group will be looking at ways to stabilise or reduce costs. The group will also be looking at ways to expand and develop our volunteers and provide as many opportunities as possible. We look forward to supporting external users of the building such as B&B Young Peoples Theatre Group and other various local schools and groups who use the building for presenting their own productions.
The PMG also had a successful year with the presentation of our musical and pantomime productions, all of which were high quality and well attended. Further work will continue to build audiences through review of sales and marketing methods. The Lowestoft Players look forward to building our strong relationship with the Marina Theatre further as we continue to do what we can to support each other.
On the whole the directors are pleased to report a positive financial year, despite some large investment costs into the building and equipment. Work will continue to develop the building and search for appropriate grant opportunities.
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 2024
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 2024
| 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 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 31st July 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).
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 (resigned 12.3.2024) Miss J Wright M T Wilson J Atkin S R Wilson R Takman Mrs P C Crisp A R Groom Mrs D Dickson G Jermyn (resigned 12.3.2024) M Garrod D J Clark (appointed 14.3.2024) (resigned 4.1.2025) Mrs C A Warren (appointed 14.3.2024)
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 4th February 2025 and signed on its behalf by:
Page 1
THE LOWESTOFT PLAYERS LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST JULY 2024
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 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.
Edward Back
Edward Back & Co Mancroft Towers Oulton Broad Lowestoft Suffolk NR32 3PS
Date: .............................................
Page 3
THE LOWESTOFT PLAYERS LIMITED
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST JULY 2024
| 2024 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 11,409 Other trading activities 2 106,451 Investment income 3 612 Other income 46,602 Total 165,074 EXPENDITURE ON Raising funds 4 99,601 Other 51,332 Total 150,933 NET INCOME 14,141 RECONCILIATION OF FUNDS Total funds brought forward 385,801 TOTAL FUNDS CARRIED FORWARD 399,942 |
2023 Total funds £ 14,508 113,732 2 27,024 |
|---|---|
| 155,266 | |
| 85,180 44,633 |
|
| 129,813 | |
| 25,453 360,348 |
|
| 385,801 |
The notes form part of these financial statements
Page 4
THE LOWESTOFT PLAYERS LIMITED
STATEMENT OF FINANCIAL POSITION
31ST JULY 2024
| 2024 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 8 308,977 CURRENT ASSETS Stocks 9 1,230 Debtors 10 1,375 Cash at bank and in hand 121,875 124,480 CREDITORS Amounts falling due within one year 11 (21,248) NET CURRENT ASSETS 103,232 TOTAL ASSETS LESS CURRENT LIABILITIES 412,209 CREDITORS Amounts falling due after more than one year 12 (12,267) NET ASSETS 399,942 FUNDS 14 Unrestricted funds 399,942 TOTAL FUNDS 399,942 |
2023 Total funds £ 302,314 1,731 2,025 111,646 115,402 (13,248) 102,154 404,468 (18,667) 385,801 385,801 385,801 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 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 5
continued...
THE LOWESTOFT PLAYERS LIMITED
STATEMENT OF FINANCIAL POSITION - continued
31ST JULY 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 4th February 2025 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 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.
Financial reporting standard 102 - reduced disclosure exemptions
The charitable company has taken advantage of the following disclosure exemption 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 2024
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 |
2024 £ 104,955 1,496 106,451 2024 £ 612 2024 £ 970 2024 £ 10,394 |
2023 £ 111,999 1,733 |
|---|---|---|
| 113,732 | ||
| 2023 £ 2 2023 £ 1,082 2023 £ 11,137 |
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st July 2024 nor for the year ended 31st July 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st July 2024 nor for the year ended 31st July 2023.
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 14,508 |
| Other trading activities | 113,732 |
| Investment income | 2 |
| Other income | 27,024 |
| Total | 155,266 |
| EXPENDITURE ON | |
| Raising funds | 85,180 |
continued...
Page 8
THE LOWESTOFT PLAYERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2024
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| Other Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 8. TANGIBLE FIXED ASSETS COST At 1st August 2023 Additions At 31st July 2024 DEPRECIATION At 1st August 2023 Charge for year At 31st July 2024 NET BOOK VALUE At 31st July 2024 At 31st July 2023 9. STOCKS Stocks |
Freehold property £ 352,367 5,720 358,087 76,220 6,097 82,317 275,770 276,147 |
Unrestricted fund £ 44,633 129,813 25,453 360,348 385,801 Plant and machinery Totals £ £ 97,542 449,909 11,337 17,057 108,879 466,966 71,375 147,595 4,297 10,394 75,672 157,989 33,207 308,977 26,167 302,314 2024 2023 £ £ 1,230 1,731 |
|---|---|---|
continued...
Page 9
THE LOWESTOFT PLAYERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2024
| 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 £ Production debtors 375 Production prepayments 1,000 1,375 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 £ Production creditors 678 Trade creditors 9,626 Receipts in advance 425 Tax 51 VAT 10,468 Other creditors - 21,248 12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2024 £ Bank loans (see note 13) 12,267 13. LOANS An analysis of the maturity of loans is given below: 2024 £ Amounts falling due in more than five years: Repayable by instalments: Bank of Scotland loan account 12,267 14. MOVEMENT IN FUNDS Net movement At 1.8.23 in funds £ £ Unrestricted funds General fund 385,801 14,141 TOTAL FUNDS 385,801 14,141 |
2023 £ 1,025 1,000 2,025 2023 £ (493) 5,573 296 51 6,207 1,614 13,248 2023 £ 18,667 2023 £ 18,667 At 31.7.24 £ 399,942 399,942 |
|---|---|
continued...
Page 10
THE LOWESTOFT PLAYERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2024
14. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 165,074 165,074 |
Resources Movement expended in funds £ £ (150,933) 14,141 (150,933) 14,141 |
Resources Movement expended in funds £ £ (150,933) 14,141 (150,933) 14,141 |
|---|---|---|---|
| 14,141 |
Comparatives for movement in funds
| At 1.8.22 £ Unrestricted funds General fund 360,348 TOTAL FUNDS 360,348 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 155,266 TOTAL FUNDS 155,266 |
Net movement At in funds 31.7.23 £ £ 25,453 385,801 25,453 385,801 Resources Movement expended in funds £ £ (129,813) 25,453 (129,813) 25,453 |
At 31.7.23 £ 385,801 |
|---|---|---|
| 385,801 | ||
| 25,453 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.8.22 £ 360,348 360,348 |
Net movement in funds £ 39,594 39,594 |
At 31.7.24 £ 399,942 |
|---|---|---|---|
| 399,942 |
continued...
Page 11
THE LOWESTOFT PLAYERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2024
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 £ 320,340 320,340 |
Resources Movement expended in funds £ £ (280,746) 39,594 (280,746) 39,594 |
|---|---|---|
15. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st July 2024.
Page 12
THE LOWESTOFT PLAYERS LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST JULY 2024
| 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 TP Productions - Theatre concession and equipment charges 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 Scripts and libretti Carried forward |
2024 £ 8,063 3,346 11,409 104,955 1,496 106,451 612 3,599 1,911 1,285 6,984 2,346 3,350 13,911 13,216 46,602 165,074 20,326 7,952 10,594 983 3,166 11,865 8,820 1,826 - 171 9,373 11,107 1,533 521 88,237 |
2023 £ 14,508 - |
|---|---|---|
| 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 72,961 |
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 2024 Other trading activities Brought forward Freehold property Plant and machinery Other Rent Rates and water 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 |
2024 £ 88,237 6,097 4,297 98,631 940 1,433 5,421 15,019 11,498 506 1,627 730 4,282 9,876 51,332 398 572 970 150,933 14,141 |
2023 £ 72,961 5,751 5,386 |
|---|---|---|
| 84,098 - 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 |
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 2024
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 2024
| 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 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 31st July 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).
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 (resigned 12.3.2024) Miss J Wright M T Wilson J Atkin S R Wilson R Takman Mrs P C Crisp A R Groom Mrs D Dickson G Jermyn (resigned 12.3.2024) M Garrod D J Clark (appointed 14.3.2024) (resigned 4.1.2025) Mrs C A Warren (appointed 14.3.2024)
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 4th February 2025 and signed on its behalf by:
Page 1
THE LOWESTOFT PLAYERS LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST JULY 2024
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 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.
Edward Back
Edward Back & Co Mancroft Towers Oulton Broad Lowestoft Suffolk NR32 3PS
Date: .............................................
Page 3
THE LOWESTOFT PLAYERS LIMITED
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST JULY 2024
| 2024 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 11,409 Other trading activities 2 106,451 Investment income 3 612 Other income 46,602 Total 165,074 EXPENDITURE ON Raising funds 4 99,601 Other 51,332 Total 150,933 NET INCOME 14,141 RECONCILIATION OF FUNDS Total funds brought forward 385,801 TOTAL FUNDS CARRIED FORWARD 399,942 |
2023 Total funds £ 14,508 113,732 2 27,024 |
|---|---|
| 155,266 | |
| 85,180 44,633 |
|
| 129,813 | |
| 25,453 360,348 |
|
| 385,801 |
The notes form part of these financial statements
Page 4
THE LOWESTOFT PLAYERS LIMITED
STATEMENT OF FINANCIAL POSITION
31ST JULY 2024
| 2024 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 8 308,977 CURRENT ASSETS Stocks 9 1,230 Debtors 10 1,375 Cash at bank and in hand 121,875 124,480 CREDITORS Amounts falling due within one year 11 (21,248) NET CURRENT ASSETS 103,232 TOTAL ASSETS LESS CURRENT LIABILITIES 412,209 CREDITORS Amounts falling due after more than one year 12 (12,267) NET ASSETS 399,942 FUNDS 14 Unrestricted funds 399,942 TOTAL FUNDS 399,942 |
2023 Total funds £ 302,314 1,731 2,025 111,646 115,402 (13,248) 102,154 404,468 (18,667) 385,801 385,801 385,801 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 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 5
continued...
THE LOWESTOFT PLAYERS LIMITED
STATEMENT OF FINANCIAL POSITION - continued
31ST JULY 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 4th February 2025 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 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.
Financial reporting standard 102 - reduced disclosure exemptions
The charitable company has taken advantage of the following disclosure exemption 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 2024
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 |
2024 £ 104,955 1,496 106,451 2024 £ 612 2024 £ 970 2024 £ 10,394 |
2023 £ 111,999 1,733 |
|---|---|---|
| 113,732 | ||
| 2023 £ 2 2023 £ 1,082 2023 £ 11,137 |
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st July 2024 nor for the year ended 31st July 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st July 2024 nor for the year ended 31st July 2023.
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 14,508 |
| Other trading activities | 113,732 |
| Investment income | 2 |
| Other income | 27,024 |
| Total | 155,266 |
| EXPENDITURE ON | |
| Raising funds | 85,180 |
continued...
Page 8
THE LOWESTOFT PLAYERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2024
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| Other Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 8. TANGIBLE FIXED ASSETS COST At 1st August 2023 Additions At 31st July 2024 DEPRECIATION At 1st August 2023 Charge for year At 31st July 2024 NET BOOK VALUE At 31st July 2024 At 31st July 2023 9. STOCKS Stocks |
Freehold property £ 352,367 5,720 358,087 76,220 6,097 82,317 275,770 276,147 |
Unrestricted fund £ 44,633 129,813 25,453 360,348 385,801 Plant and machinery Totals £ £ 97,542 449,909 11,337 17,057 108,879 466,966 71,375 147,595 4,297 10,394 75,672 157,989 33,207 308,977 26,167 302,314 2024 2023 £ £ 1,230 1,731 |
|---|---|---|
continued...
Page 9
THE LOWESTOFT PLAYERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2024
| 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 £ Production debtors 375 Production prepayments 1,000 1,375 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 £ Production creditors 678 Trade creditors 9,626 Receipts in advance 425 Tax 51 VAT 10,468 Other creditors - 21,248 12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2024 £ Bank loans (see note 13) 12,267 13. LOANS An analysis of the maturity of loans is given below: 2024 £ Amounts falling due in more than five years: Repayable by instalments: Bank of Scotland loan account 12,267 14. MOVEMENT IN FUNDS Net movement At 1.8.23 in funds £ £ Unrestricted funds General fund 385,801 14,141 TOTAL FUNDS 385,801 14,141 |
2023 £ 1,025 1,000 2,025 2023 £ (493) 5,573 296 51 6,207 1,614 13,248 2023 £ 18,667 2023 £ 18,667 At 31.7.24 £ 399,942 399,942 |
|---|---|
continued...
Page 10
THE LOWESTOFT PLAYERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2024
14. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 165,074 165,074 |
Resources Movement expended in funds £ £ (150,933) 14,141 (150,933) 14,141 |
Resources Movement expended in funds £ £ (150,933) 14,141 (150,933) 14,141 |
|---|---|---|---|
| 14,141 |
Comparatives for movement in funds
| At 1.8.22 £ Unrestricted funds General fund 360,348 TOTAL FUNDS 360,348 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 155,266 TOTAL FUNDS 155,266 |
Net movement At in funds 31.7.23 £ £ 25,453 385,801 25,453 385,801 Resources Movement expended in funds £ £ (129,813) 25,453 (129,813) 25,453 |
At 31.7.23 £ 385,801 |
|---|---|---|
| 385,801 | ||
| 25,453 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.8.22 £ 360,348 360,348 |
Net movement in funds £ 39,594 39,594 |
At 31.7.24 £ 399,942 |
|---|---|---|---|
| 399,942 |
continued...
Page 11
THE LOWESTOFT PLAYERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2024
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 £ 320,340 320,340 |
Resources Movement expended in funds £ £ (280,746) 39,594 (280,746) 39,594 |
|---|---|---|
15. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st July 2024.
Page 12
THE LOWESTOFT PLAYERS LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST JULY 2024
| 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 TP Productions - Theatre concession and equipment charges 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 Scripts and libretti Carried forward |
2024 £ 8,063 3,346 11,409 104,955 1,496 106,451 612 3,599 1,911 1,285 6,984 2,346 3,350 13,911 13,216 46,602 165,074 20,326 7,952 10,594 983 3,166 11,865 8,820 1,826 - 171 9,373 11,107 1,533 521 88,237 |
2023 £ 14,508 - |
|---|---|---|
| 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 72,961 |
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 2024 Other trading activities Brought forward Freehold property Plant and machinery Other Rent Rates and water 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 |
2024 £ 88,237 6,097 4,297 98,631 940 1,433 5,421 15,019 11,498 506 1,627 730 4,282 9,876 51,332 398 572 970 150,933 14,141 |
2023 £ 72,961 5,751 5,386 |
|---|---|---|
| 84,098 - 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 |
This page does not form part of the statutory financial statements
Page 14