REGISTERED COMPANY NUMBER: 6757807 (England and Wales) REGISTERED CHARITY NUMBER: 1132045
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 FOR HAVANT DYNAMO YOUTH THEATRE
HAVANT DYNAMO YOUTH THEATRE
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024
| Page | |
|---|---|
| Report of the Trustees | 1 to 5 |
| Independent Examiner’s Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 to 14 |
HAVANT DYNAMO YOUTH THEATRE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 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 31 January 2024.
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and 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).
CHAIRMAN’S REPORT
I would like to thank the Trustees, Artistic Director, Session Leaders, Committee, and all volunteers for their work in supporting Dynamo during this busy year. We remain committed to providing the members with exciting and diverse opportunities to perform.
We have now managed to start the Dynamites group for 7 to 11 year olds. This is going well under the watchful eye of Ryan Rock, Karen Stephens and Karen Dwight along with some of the sixth form cast members. A big thanks to all involved with getting this long held dream off the ground.
As always we struggle with help to run the group so if anyone can offer to help please speak to one of the trustees or steering group. We are lucky to have several ex-members willing to return to the group as adult helpers. Assisting not only with direction, dance and music but also with the backstage roles of publicity and stage management.
The company is now using Mo’s House for rehearsals, meetings and construction. We have been granted planning permission to carry out some repairs and alterations. I would like to thank Kevin West and Graham Frost for all of their hard work in obtaining the permissions. The trustees are looking into the best way forward to secure the lease ahead of the planned works. The Trustees recognise the need to fundraise to fully develop this space. It is a very exciting opportunity to expand the group. Whilst the building will always be officially known as The Coach House, we have dedicated the space to the memory of Mo Whiting, a founding member of Dynamos who sadly passed away during the pandemic. The space will be known as Mo’s House.
We are grateful for the support of The Pallant Centre during normal sessions, rehearsals and during production weeks. We continue to be one of the partner groups at The Spring Arts and Heritage Centre where the sixth form show is performed each year.
Once again, the senior section, Dynasty, formed in 2011 has not been active during the year but we are still hopeful that this can be restarted at a future date.
OBJECTIVES AND ACTIVITIES
Purposes and activities
The purposes of the charity are:
To advance the education for the public benefit by the promotion of the arts, in particular, but not exclusively performing arts.
To help young people, especially but not exclusively through leisure time activities involving performing arts so as to develop their capabilities so that they may grow to full maturity as individuals and members of society.
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HAVANT DYNAMO YOUTH THEATRE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2024
ACHIEVEMENT AND PERFORMANCE
Artistically, Havant Dynamo Theatre has continued to thrive during the year, driven along by the total commitment and enthusiasm of its young members.
As always, the year began with the annual Shield event, which gives the members the chance to devise, direct and perform their own short piece of original theatre.
But few could argue that the high spot of the year, following its original postponement during the pandemic, was the Celebrate event held on the South Parade Pier on Coronation Day in May. A large gathering of around three hundred people all with past and present Dynamo connections came together to party along to acknowledge the fact that the Company was still in good shape after its first 42 years! The current membership, who performed extracts from various former productions were taken aback by the sight of so many ex- members singing along to their excellent performance!
Because of the above event, the normal summer production held in July took a necessary break, but of course, the members didn’t. Always encouraged to develop their organisational and leadership skills, they embarked on a Challenge week, which involved putting on a fund- raising activity, a small variety show and finally a 24- hour specific challenge which required them to host a celebration banquet in the presence of King Charles and Queen Camilla!
The new academic year saw the Company return to a more traditional format, although a special opening event to commemorate the official opening of Mo’s House in late September, was a fitting tribute to a much- loved character who had given so much to the Company over at least 30 years.
A Spot of Murder, directed by Mary Fletcher, was this year’s highly successful Sixth Form Play, leaving the retiring members with the feeling that they had reached the absolute summit in their time with us.
. And following a round of workshop activities as well as our annual October trip to the West End, all eyes turned to our Christmas production of The Lion, the Witch and the Wardrobe. This is always our flagship production, bringing together so many vital supportive adults to enhance the performance experience of our young members. The youngsters didn’t disappoint, putting on a series of highly energetic and well -acted performances that clearly impressed our large audiences.
Dynamo Youth Theatre is a Company that is always seeking to evolve and move with current educational thinking. The formation of our new workshop -based group “Dynamites”, for 7 to 11 year olds is in its infancy, but the fact that we were able to appoint 21 year old ex member Ryan Rock to be its Artistic Director, is another step forward in our belief that opportunities for our members are always there if they want to take them.
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HAVANT DYNAMO YOUTH THEATRE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2024
FINANCIAL REVIEW
The charitable company began the year with a sound base, having restricted the financial impact of the pandemic. This year has again been hit by the lasting effects of the pandemic. Membership has not picked up as quickly as we might have hoped. A full programme of shows were undertaken during the year.
Reserves Policy
The trustees consider that the charity needs to maintain a level of general reserves approximately equivalent to the cost of putting on one year’s productions (£8,000), plus the shortfall of administration costs against subscription income (£5,200) and a small equipment purchases buffer (£500). The trustees therefore consider that the ideal level of general reserves as at 31 January 2024 should remain at £17,450, which gives free reserves after deducting the net value of fixed assets of £15,942. At 31 January 2024 the free reserves would have been lower than this level so a transfer has been made out of the designated reserves to the free reserves to achieve this level. Free reserves are now in accordance with the policy set by the trustees. The trustees will continue to regularly review the appropriateness of the policy and ensure that the charity hold reserves in accordance with the policy.
There is one designated fund for the future development of the group, specifically in respect of property costs. As at 1 February 2023 the development fund stood at £54,969. The costs incurred in respect of Mo’s House have been allocated to this designated fund and after the required transfer to general reserves the balance as at 31 January 2024 stands at £46,272.
There is one restricted fund as at 31 January 2024. This is the bursary fund which has received no donations during the year and has supported one member during the year.
PLANS FOR FUTURE PERIODS
The development of Mo’s House continues to be a priority. Plans have been drawn up and subject to approval by the PCC and the planning department we hope to refigure the space to suit our needs. The trustees are looking at the commitments of a formal lease. We still hope that if we can build up our bank of adult helpers, we will be able to turn this space into the facility for the technical section. This has long been an ambition, to provide provide opportunities for youngsters who are interested in the backstage activity rather than acting on stage. However, we will only progress with this group if we can get sufficient adult volunteers can be secured to safely supervise the group.
The junior section, Dynamites, started well in January and we intend to continue promotion of the group.
Artistically we intend to continue with a varied programme of plays and shows to broaden experience for the members. The need for adult volunteers to take on the important support and leadership roles for the relevant production teams continues. The group will continue to strive to increase the adult helpers to enable us to provide the varied acting experience we have always achieved in the past.
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HAVANT DYNAMO YOUTH THEATRE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2024
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company Number
6757807 (England and Wales)
Registered Charity Number 1132045
Registered Office
29 Mill Close Fishbourne, Chichester West Sussex PO19 3JW Trustees A F Bowker Mrs L G Stimpson R Watts S Weaver Mrs W L Willats Mrs K Boylin (resigned 19 October 2023) Mrs H Jordan-Norris Mrs P A Roberts F G Simpson M J Fletcher (appointed 22 November 2022)
Independent Examiner
Gavin Whitter FCA CTA Gibson Whitter Chartered Accountants and Chartered Tax Advisers Larch House, Parklands Business Park Denmead Hampshire PO7 6XP
Bankers
Virgin Money 170 North Street Brighton BN1 1EA
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HAVANT DYNAMO YOUTH THEATRE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Document
Havant Dynamo Youth Theatre is a company limited by guarantee governed by its Memorandum and Articles of Association dated 3 November 2008. It is registered as a charity with the Charity Commission.
The organisation was an unincorporated association, known as Dynamo Youth Theatre, founded in 1981 and controlled by a constitution. A new Charitable Company limited by guarantee was incorporated on 25 November 2008 with the name Dynamo Youth Theatre. A resolution to change the company’s name to Havant Dynamo Youth Theatre was passed on 13 July 2009 and the company was then registered as a charity on 8 October 2009. The company was established under a Memorandum and Articles of Association with the same area of benefit as the unincorporated association.
The charitable company started to trade on 1 November 2009 at which point all assets were transferred from the unincorporated association to the charitable company. The unincorporated association has been wound up. In the event of the company being wound up members are required to contribute an amount not exceeding £10 per member.
The Trustee Directors of Havant Dynamo Youth Theatre form the executive committee and are legally responsible for the overall management, control and strategic direction of Havant Dynamo Youth Theatre. The executive committee meet quarterly. There is a general committee consisting of the trustee directors and volunteer members that deals with the day to day running of the charity and has monthly meetings. There are also various sub-committees dealing with publicity, fundraising and future developments that meet whenever required.
Recruitment and appointment of new trustees
The directors of the company are also charity trustees for the purposes of charity law.
Under the provisions of the Memorandum and Articles of Association the trustees are elected to serve for a term of three years. A third of the trustee directors will put themselves up for re-election at each Annual General Meeting to promote even changes of the executive committee.
Trustees are encouraged to become familiar with their legal obligations under charity and company law.
Risk Management
The executive committee is responsible for the management of risks faced by Havant Dynamo Youth Theatre. Risks are identified and assessed and controls established throughout the year.
There is a child protection policy in place and DBS checks are carried out on all trustees and on volunteers as necessary.
ON BEHALF OF THE BOARD:
R Watts
Date: 15 May 2024
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HAVANT DYNAMO YOUTH THEATRE
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF HAVANT DYNAMO YOUTH THEATRE
Independent examiner’s report to the trustees of Havant Dynamo Youth Theatre (‘the Company’)
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 January 2024.
Responsibilities and basis of report
As the charity’s trustees of the Company (and also its directors for the purpose 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
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the accounts do not accord with those records; or
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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
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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.
Gavin Whitter FCA CTA
Gibson Whitter Chartered Accountants and Chartered Tax Advisers Larch House Parklands Business Park Denmead Hampshire PO7 6XP
Date: 16 May 2024
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HAVANT DYNAMO YOUTH THEATRE
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JANUARY 2024
| Year ended | Year ended | ||||
|---|---|---|---|---|---|
| 31 January 2024 | 31 January 2023 | ||||
| Restricted | Unrestricted | ||||
| Funds | Funds | Total Funds | Total Funds | ||
| Notes | £ | £ | £ | £ | |
| INCOME | |||||
| Income and Endowment | |||||
| from | |||||
| Donations | 2 | - | 1,298 | 1,298 | 842 |
| Raising funds | 3 | - | 3,119 | 3,119 | 2,885 |
| Investment income | 4 | - | 2,004 | 2,004 | 673 |
| Charitable activities | |||||
| Operation of youth theatre | 5 | - | 22,567 | 22,567 | 25,076 |
| ___ | ______ | ______ | ______ | ||
| Total income | - | 29,068 | 29,068 | 29,476 | |
| EXPENDITURE ON | |||||
| Raising funds | |||||
| Fundraising activities | 6 | - | 1,094 | 1,094 | 1,312 |
| Charitable activities | |||||
| Operation of youth theatre | 7 | 237 | 36,671 | 36,908 | 30,055 |
| ___ | ______ | ______ | ______ | ||
| Total expenditure | 237 | 37,765 | 38,002 | 31,367 | |
| NET INCOME AND NET | 15 | (237) | (8,697) | (8,934) | (1,891) |
| MOVEMENT IN FUNDS | |||||
| Reconciliation of Funds | |||||
| Total funds brought forward | 345 | 72,419 | 72,764 | 74,655 | |
| ____ | ______ | ______ | ______ | ||
| Total funds carried forward | 108 | 63,722 | 63,830 | 72,764 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure are derived from continuing activities. An analysis of the comparative figures by fund type is included at note 9.
The notes form part of these financial statements
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HAVANT DYNAMO YOUTH THEATRE
BALANCE SHEET AT 31 JANUARY 2024
| Note Fixed assets Tangible fixed assets 10 Current assets Stock 11 Debtors 12 Cash at bank and in hand Total current assets Liabilities:creditors falling due within one year 13 Net current assets Total assets less current liabilities/ Net assets The funds of the charity: Unrestricted income funds 15 Restricted income funds 15 Total charity funds |
2024 £ £ 1,508 696 2,956 61,563 65,215 2,893 62,322 63,830 63,722 108 63,830 |
2023 £ 546 10,160 61,885 72,591 1,776 |
£ 1,949 70,815 |
|---|---|---|---|
72,764 |
|||
72,419 345 72,764 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.
The trustees have not required the charitable company to obtain an audit of its financial statements for the year ended 31 January 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 Section 386 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 Section 396 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 financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small charitable companies.
The financial statements were approved and authorised for issue by the Board of Trustees on 15 May 2024 and were signed on its behalf by:
R Watts - Trustee
The notes form part of these financial statements
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HAVANT DYNAMO YOUTH THEATRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024
1. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared in accordance with 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 (FRS102) (effective January 2015) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Havant Dynamo 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 note(s).
Cashflow statement
The charitable company qualifies as a small charity and has taken the available exemption for small charities not to prepare a cashflow statement.
Incoming recognition policies
Items of income are recognised once the charity has entitlement to the funds, it is probable that the income will be received, and the monetary value of funds can be measured with sufficient reliability.
Voluntary income is received by way of donations and fundraising activities and is included in full in the Statement of Financial Activities when receivable.
Grants are recognised when receivable and allocated between restricted and unrestricted activities as appropriate. Deferred income relates to grants received in respect of future periods.
Donated goods and services are included at the value to the charity where this can be quantified. The value of service provided by volunteers has not been included in these financial statements.
Investment income is included when receivable.
Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party or it is probable that settlement will be required, and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
-
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. These costs include the costs of performances, workshops and theatre trips.
-
Costs of raising funds comprise all costs incurred in fundraising activities.
-
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include administrative and governance costs which support the charity’s activities.
Irrecoverable VAT
The charity is not VAT registered and irrecoverable VAT is charged against the category of resources expended for which it was incurred.
Allocation and apportionment of costs
All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis.
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HAVANT DYNAMO YOUTH THEATRE
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED
FOR THE YEAR ENDED 31 JANUARY 2024
1. ACCOUNTING POLICIES – continued
Stock
Stock is included at the lower of cost or net realisable value.
Stock is valued on a first in first out basis.
Tangible fixed assets
No depreciation is charged in the year of acquisition. Depreciation is provided in order to write off each asset over its estimated useful life as follows:
Equipment - 33% on cost
Individual fixed assets costing £100 or more are capitalised at cost.
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 donations have been utilised in accordance with the donors’ wishes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INCOME FROM DONATIONS
| 2024 Restricted 2024 Unrestricted £ £ Donations: general - 331 Gift aid reclaim - 967 ___ _____ - 1,298 AISING FUNDS 2024 Unrestricted £ Fundraising Shows: ticket receipts 1,091 Other fundraising activities 2,108 _____ Total income from fundraising activities 3,199 |
2024 Total £ 331 967 _____ 1,298 2024 Total £ 1,091 2,108 _____ 3,199 |
2023 Total £ 241 601 _____ 842 2023 Total £ 535 2,350 _____ 2,885 |
|---|---|---|
3. RAISING FUNDS
Other fundraising activities include refreshments at productions, promotion of T-shirts and Hoodies to participants.
4. INVESTMENT INCOME
| Interest on Gift aid reclaim Bank interest – UK |
2024 2023 £ £ 53 - 1,951 673 _ _ 2,004 673 |
|---|---|
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HAVANT DYNAMO YOUTH THEATRE
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 JANUARY 2024
5. INCOME FROM CHARITABLE ACTIVITIES
| Operation of Youth Theatre Subscriptions Income from stage performances: Admission charges and programmes Theatre trip Total income from charitable activities |
2024 £ 6,384 13,966 2,217 ______ 22,567 |
2023 £ 6,948 15,808 2,320 ______ 25,076 |
|---|---|---|
6. ANALYSIS OF EXPENDITURE ON RAISING FUNDS
| T-shirts and Hoodies Refreshment and other fundraising costs ALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES Stage performances and workshops Production costs Theatre trips and festival costs Depreciation Insurance Bursary provided in the year Support costs (see below) Analysis of Support Costs Premises costs Repairs Computer software Advertising and marketing costs Legal and other professional fees Finance Insurance: Fidelity Sundry expenses |
2024 £ 187 907 _ 1,094 2024 Total £ 9,173 2,440 667 620 237 23,771 _ 36,908 2024 Total £ 20,860 625 285 370 629 150 304 548 ___ 23,771 |
2023 £ 155 1,157 _____ 1,312 |
|---|---|---|
2023 Total £ 11,621 2,835 - 562 290 14,747 __ 30,055 2023 Total £ 12,899 406 168 30 698 133 304 109 ____ 14,747 |
7. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES
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HAVANT DYNAMO YOUTH THEATRE
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 JANUARY 2024
8. NET INCOME / (EXPENDITURE) FOR THE YEAR
| This is stated after charging: Depreciation Cost of independent examination |
2024 £ 667 552 |
2023 £ - 492 |
|---|---|---|
The charity had no employees in the year (2023: none).
The charity trustees were not paid or reimbursed expenses during the period and no charity trustee received any emolument or payment for professional or other services.
9. ANALYSIS BY FUND FOR COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES
| Restricted Unrestricted INCOME AND ENDOWMENTS FROM £ £ Donations - 842 Raising funds - 2,885 Investments - 673 Charitable activities Operation of youth theatre - 25,076 _ _ Total income - 29,476 EXPENDITURE ON Raising funds - 1,312 Charitable activities Operation of youth theatre 290 29,765 __ Total expenditure 290 31,077 Net income and net movements in funds (290) (1,601) Total funds brought forward 635 74,020 _ ____ TOTAL FUNDS CARRIED FORWARD 345 72,419 |
Total £ 842 2,885 673 8,905 __ 29,476 1,312 30,055 _ 31,367 __ (1,891) 74,655 ______ 72,764 |
|---|---|
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HAVANT DYNAMO YOUTH THEATRE
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 JANUARY 2024
10. TANGIBLE FIXED ASSETS
| Equipment | |||
|---|---|---|---|
| 2024 | |||
| £ | |||
| Cost: | |||
| As at 1 February 2023 | 20,250 | ||
| Additions | 226 | ||
| _____ | |||
| As at 31 January 2024 | 20,476 | ||
| Depreciation: | |||
| As at 1 February 2023 | 18,301 | ||
| Charge for the year | 667 | ||
| _____ | |||
| As at 31 January 2024 | 18,968 | ||
| Net book value | |||
| As at 31 January 2024 | 1,508 | ||
| As at 31 January 2023 | 1,949 | ||
| 11. | Stock | ||
| 2024 | 2023 | ||
| £ | £ | ||
| T-shirts and Hoodies for participants | 696 | 546 |
Costumes are written off in the year of acquisition; however, they are insured for replacement purposes.
12. DEBTORS
| Other debtors 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Creditors and accruals |
2024 £ 2,956 2024 £ 2,893 |
2023 £ 10,160 |
2023 £ 10,160 |
|---|---|---|---|
2023 £ 1,776 |
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HAVANT DYNAMO YOUTH THEATRE
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 JANUARY 2024
14. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| General | Designated | Designated | Restricted | Restricted | 2024 | 2023 | ||
|---|---|---|---|---|---|---|---|---|
| funds | funds | |||||||
| Funds | Development | Bursary | Total | Funds | ||||
| £ | £ | £ | £ | £ | ||||
| Fixed | ||||||||
| assets | 1,508 | - | - | 1,508 | 1,949 | |||
| Current | ||||||||
| assets | 18,835 | 46,272 | 108 | 65,215 | 72,591 | |||
| Current | ||||||||
| liabilities | (2,893) | - | (2,893) | (1,776) | ||||
| ______ | ______ | ______ | ______ | ______ | ||||
| 17,450 | 46,272 | 108 | 63,830 | 72,764 | ||||
| OVEMENT IN | FUNDS | |||||||
| Funds | Incoming | Resources | Transfers | Funds | ||||
| 31 January | resources | expended | 31 January | |||||
| 2023 | 2024 | |||||||
| £ | £ | £ | £ | £ | ||||
| General fund | 17,450 | 29,068 | (30,661) | 1,593 | 17,450 | |||
| Designated funds: | ||||||||
| Development | 54,969 | - | (7,104) | (1,593) | 46,272 | |||
| Restricted funds: | ||||||||
| Bursary | 345 | (237) | - | 108 | ||||
| ______ | ______ | ______ | ______ | ______ | ||||
| Total funds | 72,764 | 29,068 | (38,002) | _ ____- | 63,830 | |||
| Name of fund | Description, nature and purposes of the | fund | ||||||
| Unrestricted funds: | ||||||||
| General fund | The “free” reserves after allowing for all designated funds. | |||||||
| Designated funds: | ||||||||
| Development | Designated development fund for the future expansion of the | |||||||
| group | and acquisition and refurbishment of property facilities. | |||||||
| Restricted funds: | ||||||||
| Bursary | Donations received towards funding members of the group. |
15. MOVEMENT IN FUNDS
16. LEGAL STATUS OF THE CHARITY
The charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity.
17. ULTIMATE CONTROLLING PARTY
During the year the charitable company was under control of its members, no one member has overall control.
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