Registered number: 6264703 Charity number: 1130961
CENTRAL YOUTH THEATRE (A company limited by guarantee)
## UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
## CENTRAL YOUTH THEATRE
(A company limited by guarantee)
## CONTENTS
||Page|
|---|---|
|Reference and administrative details of the company, its Trustees and advisers|1|
|Trustees' report|2 - 7|
|Trustees' responsibilities statement|8|
|Independent examiner's report|9|
|Statement of financial activities|10|
|Balance sheet|11 - 12|
|Notes to the financial statements|13 - 28|
CENTRAL YOUTH THEATRE
(A company limited by guarantee)
## REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JULY 2024
## Trustees
Anthony Allen MBE (resigned 31 August 2023) Josephine Kelly Lucy Poole Kathryn Roper (resigned 31 August 2023) Heather Wood Amanda Rooney Raman Sarpal Dion Fathom Rosie Baggot Clare Crowley (appointed 9 September 2023) John Harrison (appointed 9 September 2023) Bryn John Mills (appointed 9 September 2023)
## Company registered number
6264703
## Charity registered number
1130961
## Registered office
Newhampton Arts Centre Dunkley Street Wolverhampton WV1 4AN
## Bankers
National Westminster Bank Queen Square Wolverhampton WV1 1TR
CAF Bank Limited Kings Hill West Malling Kent ME19 4JQ
Page 1
CENTRAL YOUTH THEATRE
(A company limited by guarantee)
## TRUSTEES' REPORT FOR THE YEAR ENDED 31 JULY 2024
August 2023 – July 2024
As I look back on the last 12 months of activity at Central Youth Theatre, I’m incredibly proud of all that we’ve achieved, both artistically and organisationally. Our staff and trustee team has expanded, our provision has developed, and we’ve managed a number of large scale funding bids which have hugely supported us through this exciting period of development.
We started the artistic year with a jam-packed programme, with adaptations upon reflection from the previous year. We decided to spread out our performances across the year, allowing seniors to choose productions that avoided the busy exam period.
In October, our schools outreach team were on the road and visited St Regis, The Royal and St John Wall locally. Followed by Ruislip High, The Kings Church of England Academy in Stoke on Trent and Valentines High in Essex. In total we engaged approximately 1,075 students between years 9-11, assisting with their GCSE English Set Text understanding. We were back on the road once more in April, visiting the Rugby Free School, Claremont Fan School and St Regis working with a further 450 GCSE students.
Our outreach provision also included a series of 12 workshops at Claregate Primary, working with their year 5 & 6 pupils, providing an introduction to drama after school club. This after school drama club was extended to also include Warstones Primary school who requested a weekly drama club with one member of CYT staff throughout term time, and I am pleased to say that we are still working in collaboration with this wonderful school. Another primary school we had the pleasure of visiting included Brewood Primary school in which we delivered a series of workshops with their pupils that focussed on the lifecycle of water, to help aid their curriculum.
Another outreach workshop we had the pleasure of designing and delivering was in collaboration with AF Blakemores. We delivered a skills development workshop that looked specifically at employability skills including communication, body language and exploring perceptions with a group of 20 of AF Blakemore’s apprentices.
We were also fortunate to have secured a contract through the UK Government’s Levelling Up programme – UK Shared Prosperity. The funding enabled us to run a film making project called ‘We Built This City’ that aimed to teach young people aged 15-25 the necessary digital skills required to be a film maker. We trained 40 young people in oral history collection, and then held community drop in interviews at the Change Makers Hub, coordinated by the Wolverhampton Bid in which participants interviewed local unsung heroes who go above and beyond for their local communities. These interviews were then transcribed, collated and the young people selected the stories they felt would be best transformed into film. In February half term in 2024, over 60 young people spent 5 days creating 5 short films that depicted these stories. We were also successful in securing additional bolt on funding to expand this project through the Sir Barry Jackson Trust, to extend this project to our Acting Up Disability group. They created a short film focussing on local individuals who had developed provision for disabled people in Wolverhampton. This project culminated in a sellout film screening at the Newhampton Arts Centre in March, in which over 170 local heros, young people, cast, crew and dignitaries came together to celebrate Wolverhampton and the achievements of the project participants.
After the success of ‘We Built this City’ we had the fantastic news that we had been selected as one of the regional charities to receive a grant from United by 2022 the Commonwealth Games Legacy Charity to deliver a Gen22 project that focussed on developing young people’s film making skills. The project entitled ‘Young Film Makers’ started in April and ran through until December 2024. We were able to train 29 young people in vital film making skills alongside a number of professionals working in the industry including CYT Patron Tom Parry and local film maker Radman Rock from Radman TV. We hosted different training schemes that culminated in the creation of 6 short films that celebrated local sporting heroes and clybs. These films were screened at a final celebratory event at the Molineux in January 2025.
In January 2024 we were incredibly grateful to have the support of The Eveson Trust who awarded us £1,000 to further enhance our Safeguarding Policies and Procedures. We updated our policy with the support of Ann
Page 2
CENTRAL YOUTH THEATRE (A company limited by guarantee)
## TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024
Brown who also delivered updated Safeguarding training to our staff and trustee team. Our ForeFront theatre company for young people aged 18-25 staged a new adaptation of Three Sisters, directed and adapted by CYT former member Matthew Allen as part of the Wolverhampton Literature festival at the Newhampton Arts Centre in February. As well as staging an adaptation of Shakespeare’s Twelfth Night that toured to the Sapperlot Festival in Brixen Italy in June 2024.
In March we staged Arthur Miller’s The Crucible at Wolverhampton’s oldest historic building - St Peters Collegiate Church in the city centre. It was an incredibly atmospheric setting, particularly given the content of the production. The cast of 20 senior members skilfully managed to interpret the 4-act production in the choir stalls of the historic church to two sell out audiences. A huge thanks to the staff and support team at St Peters Church as well as our trustee Bryn Mills for being so accommodating and helping to support the logistics of this production.
In June, both of our junior groups (both Sunday and Wednesday) staged a brand-new adaptation called Trunchbull which was written by former member & staff member Roisin Murphy. The play explored the complex and terrifying character of Agatha Trunchbull from Roald Dahls’ Matilda and featured 5 brand new songs written by former member Logan Musgrove. We recorded these tracks with Ryan Pinson at RML studios with the generous support of The Blakemores Foundation. Trunchbull’s performance dates were spread across 3 evenings at the Newhampton Arts Centre, with all 3 shows being a sellout. A huge thanks to our staff and volunteer team who helped to co-ordinate this epic production that featured a cast of 50 young people!
We engaged in a plethora of fundraising events and initiatives that our members, trustees and staff supported including providing a steward team for the Wolverhampton Rotary’s Dragon Boat Race event at Himley, in which over 20 teams took part in all day races. A huge thanks to our trustees who made this event possible and to Wolverhampton Rotary who are incredibly supportive and generous to CYT. We were also incredibly proud to be selected by the Wolverhampton Rotary as one of their chosen charities as part of their annual fundraising event – Best Foot Forward. A huge number of our members, their families, trustees and staff walked 1686 laps (421 miles) and we raised a total of £1,500 from this incredible event towards our annual fundraising goal.
The season closed with a fantastic senior production of Brainstorm by Company 3 at the Newhampton Arts Centre and a summer drama school which engaged 26 young people aged 7-12 each day in thematic drama days including Harry Potter, Disney, Gaming and Horrible Histories.
I’m pleased to say that as we looked forward to the 24-25 season, we started the year strong, with securing a 2[nd] round contract from the UKSPF Fund to deliver a new project entitled ‘First Step on the Ladder’ an introduction to backstage training for young people aged 15-25. We have also launched our CYT Podcast – ‘The Get In’ and have an exciting artistic programme of productions, international projects and workshops ahead. Here’s to an exciting and creative year for CYT.
Holly Parry CEO
Page 3
## CENTRAL YOUTH THEATRE
## (A company limited by guarantee)
Annual Statistical Report 2023-24
**----- Start of picture text -----**
2024 2023 % change
Number of participants over the year 182 117 56%
Number of new term members from Summer 23 45 15 200%
Of which junior 13 10 30%
Of which senior 20 5 300%
Of which Early Years 12 0 0
Autumn 23 Spring 24 Summer 24
Number of members per term 110 114 100
Retention rates 95% 86%
Average 108 76 42%
Members who completed all terms 90 64 41%
Holiday schemes & projects We Built GEN22 Summer drama
61 29 48
Of which existing members 47 18 16
Characteristics of participants
2023
Summary of Young People - Groups Early Years Junior Senior Total Junior Senior Total
12 95 75 182 56 61 117
7% 52% 41% 48% 52%
Summary of Young People - Gender Non-binary Female Male Total Non-binary Female Male Total
2 103 77 182 2 67 48 117
1% 57% 42% 4% 57% 41%
Summary of Young People - Disability Non-binary Female Male Total Female Male Total
1 15 12 28 9 11 20
1% 8% 7% 15% 8% 9% 17%
Summary of Young People - Ethnicity Non-binary Female Male Total Non-binary Female Male Total
White 2 84 64 150 2 47 32 81
Asian 5 3 8 5 8 13
Black 9 6 15 6 2 8
Multi-racial 5 4 9 9 6 15
Totals 2 103 77 182 2 67 48 117
Summary of Young People - Ethnicity % Non-binary Female Male Total Non-binary Female Male Total
White 1% 46% 35% 82% 2% 40% 27% 69%
Asian 3% 2% 4% 0 4% 7% 11%
Black 5% 3% 8% 0 5% 2% 7%
Multi-racial 3% 2% 5% 0 8% 5% 13%
100% 100%
Summary of Young People - Financial Members Full Subsidised Nil Total Full Subsidised Nil Total
Term Membership 81 41 0 122 84 17 2 103
Juniors 36 23 0 59 39 6 2 47
Seniors 37 14 0 51 50 6 0 56
Early Years 8 4 0 12
White 69 32 0 101 69 3 1 73
Non-white 13 8 21 20 9 1 30
Summary of Young People - Financial Full Subsidised Nil Total Full Subsidised Nil Total
Membership paid * 66% 34% 0% 100% 82% 17% 2% 100%
Juniors 61% 39% 0% 100% 83% 13% 4% 100%
Seniors 73% 27% 0% 100% 89% 11% 0% 100%
White 68% 32% 0% 100% 95% 4% 1% 100%
Non-white 62% 38% 0% 100% 67% 30% 3% 100%
Average subscriptions paid £114.02 £97.42
**----- End of picture text -----**
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(A company limited by guarantee)
## CENTRAL YOUTH THEATRE
## Acting Up 2022-23
**----- Start of picture text -----**
2024 2023
Number of members over the year 13 10
Summary of Young People - Gender Female Male Total Female Male Total
8 5 13 5 5 10
62% 38% 50% 50%
Summary of Young People - Ethnicity Female Male Total Female Male Total
White 8 5 13 5 5 10
Asian 0
Black 0
Multi-racial 0
Totals 8 5 13 5 5 10
Summary of Young People - Ethnicity % Female Male Total Female Male Total
White 62% 38% 100% 50% 50% 100%
Asian
Black
Mixed 0% 0% 0% 0% 0% 0%
**----- End of picture text -----**
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CENTRAL YOUTH THEATRE (A company limited by guarantee)
## TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024
The Trustees present their annual report together with the financial statements of Central Youth Theatre for the year 1 August 2023 to 31 July 2024. The Annual report serves as a Trustees’ report and a directors’ report under company law. The Trustees confirm the Annual report and the financial statements of the charitable company comply with the current statutory requirements, the requirements of the company’s governing document and the provision of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of a medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulation 2013 has been omitted.
## Structure, Governance and Management
Central Youth Theatre (CYT) was registered as a company limited by guarantee on 31 May 2007. It has no share capital and is a registered charity. The guarantee of each member is limited to £1. The governing documents are the Memorandum of Association and Articles of Association of the company, and members of the Board of Trustees are Directors of the company.
CYT is governed by a board of Trustees who are appointed at the Annual General Meeting.
Nominations to the board are limited to residents of Wolverhampton and the surrounding area who have an active interest in the work of the company. CYT currently has a board of 10 members drawn from a broad section of the community bringing their own skills and experience in the performing arts, education, public/voluntary sector and commerce.
## Public Benefit
In setting objectives and planning for activities, the Trustees have given due consideration to the general guidance published by the Charity Commission relating to public benefit, including the guidance ‘Public benefit: running a charity (PB2)’.
CYT is the only youth theatre group in the city successfully integrating people with disabilities into our artistic projects. This has an enormous positive impact on the selfesteem of not only the disabled young people, but also creates awareness of the importance and value of this work for other members.
## Objects of the company
To advance the education of young people under the age of 26 living in Wolverhampton and the surrounding area in all aspects of the art of drama and theatre production and the development of public appreciation of such art.
## Our Vision
Our artistic programme empowers young people to be Compassionate, Creative, and Connected.
## Aims
To offer young people of every background and ability the opportunity to be involved in all aspects of the creative arts in an open and safe environment within the City of Wolverhampton.
To build confidence and skills, enabling young people to learn through creative, fun, aspirational projects, workshops and performances, as well as opportunities to undertake international work.
To encourage young people to drive the work forward in innovative ways providing benefits for the local community as well as wider audiences.
Page 6
## CENTRAL YOUTH THEATRE
## (A company limited by guarantee)
## TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024
To celebrate the continuing achievements of our alumni, involving these former members in the nurturing of future creative talents, to provide insight, advice and guidance to careers in the performing arts and media.
To provide a varied programme of performing arts, skill development, education and entertainment that our members and public are willing to support.
To work collaboratively with partners in the Third Sector, Schools/Colleges and Private Sector to support The City of Wolverhampton delivering the key themes set out in the City Strategy 20112026.
To make a significant contribution to invigorate Wolverhampton City Centre and the weekend/local evening time economy.
To advocate the intrinsic value of artistic and cultural activities to the social and economic wellbeing of individuals and in the communities we work in.
Generate an effective, sustainable financial plan that will minimise the reliance on grant funding.
## Financial Review
This year was a reasonable year for CYT. Our income was £131,954 and expenditure £160,794. General unrestricted funds are £77,772 so remain at a fully acceptable level. Designated funds £50,000.
## Reserves policy
The company aims to hold general (unrestricted) reserves of between three and six months running costs. The present reserves represent twelve months essential costs.
Approved by order of the members of the board of Trustees on 26 February 2025 and signed on their behalf by:
## Rosie Baggot
Chair
Page 7
CENTRAL YOUTH THEATRE (A company limited by guarantee)
## STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 JULY 2024
The Trustees (who are also the directors of the company for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees on 26 February 2025 and signed on its behalf by:
Rosie Baggot Chair
Page 8
CENTRAL YOUTH THEATRE
(A company limited by guarantee)
## INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 JULY 2024
## Independent examiner's report to the Trustees of Central Youth Theatre ('the company')
I report to the charity Trustees on my examination of the accounts of the company for the year ended 31 July 2024.
## Responsibilities and basis of report
As the Trustees of the company (and 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 the company's accounts 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:
1. 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
3. 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
4. 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.
This report is made solely to the company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for my work or for this report.
Signed: Dated: 26 February 2025 Melissa Smith MAAT, CIMA dip MA
172 Lawnswood Road, Stourbridge, DY8 5LW
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## CENTRAL YOUTH THEATRE
## (A company limited by guarantee)
## STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JULY 2024
|Note
Income from:
Donations and legacies
3
Charitable activities
4
Other trading activities
7
Investments
8
Total income
Expenditure on:
Raising funds
9
Charitable activities
10
Total expenditure
Net expenditure before taxation
Taxation
15
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward|Unrestricted
funds
2024
£
9,585
58,030
5,080
2,495
75,190
605
103,425
104,030
(28,840)
35,550
6,710
121,062
6,710
127,772|Restricted
funds
2024
£
-
56,764
-
-
56,764
-
56,764
56,764
-
-
-
-
-
-|Total
funds
2024
£
9,585
114,794
5,080
2,495
131,954
605
160,189
160,794
(28,840)
35,550
6,710
121,062
6,710
127,772|Total
funds
2023
£
7,861
74,202
12,059
822
94,944
3,739
97,377
101,116
(6,172)
19,442
13,270
107,792
13,270
121,062|
|---|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 13 to 28 form part of these financial statements.
Page 10
(A company limited by guarantee) REGISTERED NUMBER: 6264703
## CENTRAL YOUTH THEATRE
## BALANCE SHEET AS AT 31 JULY 2024
|Note
Fixed assets
Tangible assets
16
Current assets
Debtors
17
Cash at bank and in hand
Creditors: amounts falling due within one
year
18
Net current assets
Total assets less current liabilities
Net assets excluding pension asset
Total net assets
Charity funds
Restricted funds
20
Unrestricted funds
20
Total funds|41,149
120,147
161,296
(36,324)|2024
£
2,800
2,800
124,972
127,772
127,772
127,772
-
127,772
127,772|27,467
112,519
139,986
(18,924)|2023
£
-|
|---|---|---|---|---|
|||||-
121,062|
|||||121,062|
|||||121,062|
||||||
|||||121,062|
|||||-
121,062|
||||||
|||||121,062|
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## CENTRAL YOUTH THEATRE
(A company limited by guarantee) REGISTERED NUMBER: 6264703
# BALANCE SHEET (CONTINUED) AS AT 31 JULY 2024
The company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees on 26 February 2025 and signed on their behalf by:
Rosie Baggot Chair
The notes on pages 13 to 28 form part of these financial statements.
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CENTRAL YOUTH THEATRE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
## 1. General information
The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association in May 2007.
The principal object of the company is to advance the education of young people under the age of 26, living within Wolverhampton and the surrounding area in all aspects of the art of drama and theatre production and the development of public appreciation of such art
## 2. Accounting policies
## 2.1 Basis of preparation of financial statements
The financial statements 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 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Central Youth Theatre meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## 2.2 Income
All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
## 2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
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CENTRAL YOUTH THEATRE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
## 2. Accounting policies (continued)
## 2.4 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
## 2.5 Taxation
The company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## 2.6 Tangible fixed assets and depreciation
Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .
Depreciation is provided on the following basis:
Office equipment
-
## 2.7 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## 2.8 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
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CENTRAL YOUTH THEATRE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
## 2. Accounting policies (continued)
## 2.9 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
## 2.10 Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## 2.11 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
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(A company limited by guarantee)
## CENTRAL YOUTH THEATRE
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
## 3. Income from donations and legacies
|Unrestricted
funds
2024
£
Donations
5,711
Contributions to UK and overseas travel
3,874
9,585
Total 2023
7,861|Total
funds
2024
£
5,711
3,874
9,585
7,861|Total
funds
2023
£
4,041
3,820|
|---|---|---|
|||7,861|
||||
## 4. Income from charitable activities
|Unrestricted
funds
2024
£
Theatrical operations
58,030
Grants
-
58,030
Total 2023
59,330|Restricted
funds
2024
£
-
56,764
56,764
14,872|Total
funds
2024
£
58,030
56,764
114,794
74,202|Total
funds
2023
£
59,130
15,072|
|---|---|---|---|
||||74,202|
|||||
Page 16
(A company limited by guarantee)
## CENTRAL YOUTH THEATRE
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
## 5. Theatrical Operations
|Unrestricted
funds
2024
£
Box Office
6,878
The Actor's wardrobe
1,393
Subscriptions and work
36,942
Outreach work
9,300
Services
288
Summer school, workshop fees
3,229
Product sales
-
Sponsorship & advertising
-
Small unrestricted grant
-
58,030|Total
funds
2024
£
6,878
1,393
36,942
9,300
288
3,229
-
-
-
58,030|Total
funds
2023
£
6,293
18,953
22,212
9,600
55
1,478
99
440
200|
|---|---|---|
|||59,330|
## 6. Grants Received
|Eveson
Wolverhampton Council - UK Shared Prosperity Fund
Arnold Clark
Barry Jackson
United Birmingham 2022 Legacy Charity|Restricted
funds
2024
£
526
41,140
-
2,000
13,099
56,765|Total
funds
2024
£
526
41,140
-
2,000
13,099
56,765|Total
funds
2023
£
12,124
1,748
1,000
-
-|
|---|---|---|---|
||||14,872|
Page 17
(A company limited by guarantee)
## CENTRAL YOUTH THEATRE
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
## 7. Income from other trading activities
Income from fundraising events
|Unrestricted
funds
2024
£
Fundraising
5,080
Total 2023
12,059
Investment income
Unrestricted
funds
2024
£
Investment income - local cash
2,495
Total 2023
822|Total
funds
2024
£
5,080
12,059
Total
funds
2024
£
2,495
822|Total
funds
2023
£
12,059|
|---|---|---|
|||Total
funds
2023
£
822|
||||
## 8. Investment income
## 9. Expenditure on raising funds Fundraising trading expenses
|Unrestricted
funds
2024
£
Allocated centrally incurred fundraising and governance
costs
605
Total 2023
3,739|Total
funds
2024
£
605
3,739|Total
funds
2023
£
3,739|
|---|---|---|
||||
Page 18
(A company limited by guarantee)
## CENTRAL YOUTH THEATRE
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
## 9. Expenditure on raising funds (continued)
## 10. Analysis of expenditure on charitable activities
## Summary by fund type
|Unrestricted
funds
2024
£
Theatrical operations
103,425
Grants
-
103,425
Total 2023
82,505|Restricted
funds
2024
£
-
56,764
56,764
14,872|Total
2024
£
103,425
56,764
160,189
97,377|Total
2023
£
82,505
14,872|
|---|---|---|---|
||||97,377|
|||||
## 11. Analysis of expenditure by activities
|Theatrical operations
Grants
Total 2023|Activities
undertaken
directly
2024
£
78,883
53,986
132,869
82,489|Support
costs
2024
£
24,542
2,778
27,320
14,888|Total
funds
2024
£
103,425
56,764
160,189
97,377|Total
funds
2023
£
82,505
14,872|
|---|---|---|---|---|
|||||97,377|
||||||
Page 19
(A company limited by guarantee)
## CENTRAL YOUTH THEATRE
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
## 11. Analysis of expenditure by activities (continued)
## Analysis of direct costs
|Staff costs
Production costs
Venue hire
Support workers
International travel
Travel and hospitality
Tutors' fees
Marketing
Training cost - outreach
Training
Other office expenses
Rent
Total 2023|Theatrical
operations
2024
£
34,396
12,072
8,061
4,601
5,690
1,654
5,625
1,383
4,838
-
563
-
78,883
68,091|Grants
2024
£
31,944
1,011
3,844
13,084
-
1,871
-
1,983
-
249
-
-
53,986
14,398|Total
funds
2024
£
66,340
13,083
11,905
17,685
5,690
3,525
5,625
3,366
4,838
249
563
-
132,869
82,489|Total
funds
2023
£
55,410
9,056
6,028
223
4,599
1,672
-
327
3,461
-
538
1,175|
|---|---|---|---|---|
|||||82,489|
||||||
Page 20
(A company limited by guarantee)
## CENTRAL YOUTH THEATRE
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
## 11. Analysis of expenditure by activities (continued)
## Analysis of support costs
|Theatrical
operations
2024
Grants
2024
£
£
Training
387
-
Motor and Travel
1,759
65
Postage and stationery
686
47
Legal and Professional fees
8,566
277
Other office expenses
2,110
-
Rent
3,623
1,703
Buildings -repair and maintenance
146
-
Technical equipment
6,270
686
Bank charges
60
-
Depreciation
934
-
24,541
2,778
Total 2023
14,414
474
12.
Independent examiner's remuneration
Fees payable to the company's independent examiner for the independent
examination of the company's annual accounts
Fees payable to the company's independent examiner in respect of:
All taxation advisory services not included above
13.
Staff costs
Wages and salaries|Total
funds
2024
£
387
1,824
733
8,843
2,110
5,326
146
6,956
60
934
27,319
14,888
2024
£
725
150
2024
£
66,340
66,340|Total
funds
2023
£
-
849
1,692
7,251
453
3,881
637
95
30
-|
|---|---|---|
|||14,888|
|||2023
£
625
150|
|||2023
£
55,410|
||||
|||55,410|
Page 21
CENTRAL YOUTH THEATRE
(A company limited by guarantee)
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
## 13. Staff costs (continued)
The average number of persons employed by the company during the year was as follows:
||2024|2023|
|---|---|---|
||No.|No.|
|Employees|5|4|
No employee received remuneration amounting to more than £60,000 in either year.
## 14. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).
During the year ended 31 July 2024, no Trustee expenses have been incurred (2023 - £NIL).
## 15. Taxation
|Corporation tax
Theatre Tax relief for the year
Taxation on net expenditure|2024
£
(35,550)
(35,550)|2023
£
(19,442)
(19,442)|
|---|---|---|
There were no factors that affected the tax credit for the year which has been calculated on net expenditure at the standard rate of corporation tax in the UK of 19% (2023 - 19%).
There are no factors considered likely to affect future tax charges.
## 16. Tangible fixed assets
|Cost or valuation
At 1 August 2023
Additions
At 31 July 2024|Motor
vehicles
£
(2,000)
-
(2,000)|Office
equipment
£
-
3,734
3,734|Total
£
(2,000)
3,734
1,734|
|---|---|---|---|
Page 22
(A company limited by guarantee)
## CENTRAL YOUTH THEATRE
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
|16.
Tangible fixed assets (continued)
Depreciation
At 1 August 2023
Charge for the year
At 31 July 2024
Net book value
At 31 July 2024
At 31 July 2023
17.
Debtors
Due within one year
Trade debtors
Other debtors
Prepayments and accrued income
Tax recoverable
18.
Creditors: Amounts falling due within one year
Trade creditors
Other taxation and social security
Accruals and deferred income|Motor
vehicles
£
(2,000)
-
(2,000)
-
-||Office
equipment
£
-
934
934
2,800
-
2024
£
3,881
105
1,645
35,518
41,149
2024
£
2,084
975
33,265
36,324|Total
£
(2,000)
934
(1,066)
2,800
-
2023
£
-
5
1,518
25,944
27,467
2023
£
-
875
18,049
18,924|
|---|---|---|---|---|
||||||
||||||
||||||
||||||
Page 23
(A company limited by guarantee)
## CENTRAL YOUTH THEATRE
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
## 19. Financial instruments
||2024|2023|
|---|---|---|
||£|£|
|Financial assets|||
|Financial assets measured at fair value through income and expenditure|120,147|112,519|
Financial assets measured at fair value through income and expenditure comprise of assets held for trading and those financial assets designated as being held at fair value through profit and loss.
Page 24
(A company limited by guarantee)
## CENTRAL YOUTH THEATRE
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
|20.
Statement of funds
Statement of funds - current year
Balance at 1
August 2023
£
Unrestricted funds
Designated funds
Designated Funds - all funds
50,000
General funds
General Funds - all funds
71,062
Total Unrestricted funds
121,062
Restricted funds
Restricted Funds - all funds
-
Total of funds
121,062|Income
£
-
75,190
75,190
56,764
131,954|Expenditure
£
-
(104,030)
(104,030)
(56,764)
(160,794)|Taxation
£
Balance at
31 July 2024
£
-
50,000
35,550
77,772
35,550
127,772
-
-
35,550
127,772|Taxation
£
Balance at
31 July 2024
£
-
50,000
35,550
77,772
35,550
127,772
-
-
35,550
127,772|
|---|---|---|---|---|
|||||77,772|
|||||127,772|
|||||-|
|||||127,772|
Page 25
(A company limited by guarantee)
## CENTRAL YOUTH THEATRE
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
## 20. Statement of funds (continued)
## Statement of funds - prior year
|Unrestricted funds
Designated funds
Designated Funds - all funds
General funds
General Funds - all funds
Total Unrestricted funds
Restricted funds
Restricted Funds - all funds
Total of funds|Balance at
1 August
2022
£
50,000
57,792
107,792
-
107,792|Income
£
-
80,072
80,072
14,872
94,944|Expenditure
£
-
(86,244)
(86,244)
(14,872)
(101,116)|Taxation
£
-
19,442
19,442
-
19,442|Balance at
31 July 2023
£
50,000|
|---|---|---|---|---|---|
||||||71,062|
||||||121,062|
||||||-|
||||||121,062|
## 21. Designated funds
The designated fund was set up to raise capital funds for CYT to purchase their own premises.
## 22. Summary of funds
Page 26
(A company limited by guarantee)
## CENTRAL YOUTH THEATRE
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
## 22. Summary of funds (continued)
## Summary of funds - current year
|Balance at 1
August 2023
£
Designated funds
50,000
General funds
71,062
Restricted funds
-
121,062
Summary of funds - prior year
Balance at
1 August
2022
£
Designated funds
50,000
General funds
57,792
Restricted funds
-
107,792|Income
£
-
75,190
56,764
131,954
Income
£
-
80,072
14,872
94,944|Expenditure
£
-
(104,030)
(56,764)
(160,794)
Expenditure
£
-
(86,244)
(14,872)
(101,116)|Taxation
£
Balance at
31 July 2024
£
-
50,000
35,550
77,772
-
-
35,550
127,772
Taxation
£
Balance at
31 July 2023
£
-
50,000
19,442
71,062
-
-
19,442
121,062|Taxation
£
Balance at
31 July 2024
£
-
50,000
35,550
77,772
-
-
35,550
127,772
Taxation
£
Balance at
31 July 2023
£
-
50,000
19,442
71,062
-
-
19,442
121,062|
|---|---|---|---|---|
|||||127,772|
|||||Balance at
31 July 2023
£
50,000
71,062
-|
|Summary of funds - prior year|||||
|Designated funds
General funds
Restricted funds|||||
|||||121,062|
## 23. Analysis of net assets between funds
Analysis of net assets between funds - current period
|Unrestricted
funds
2024
£
Tangible fixed assets
2,801
Current assets
161,295
Creditors due within one year
(36,324)
Total
127,772|Total
funds
2024
£
2,801
161,295
(36,324)|
|---|---|
||127,772|
Page 27
(A company limited by guarantee)
## CENTRAL YOUTH THEATRE
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
|23.|Analysis|of net assets between funds (continued)|
|---|---|---|
||Analysis|of net assets between funds - prior period|
|Current assets
Creditors due within one year
Total|Unrestricted
funds
2023
£
139,986
(18,924)
121,062|Total
funds
2023
£
139,986
(18,924)
121,062|
|---|---|---|
Page 28