PAVILION THEATRE
Pier Gardens, Gorleston, Norfolk NR316PP (01493) 662841 Fax: (01493) 333456
25[th] May 2022
The charity along with many other charities has seen a significant drop in donations over the past year due to the affects of Covid. During this period we were closed for over 15 months and therefore not able to do any fund raising events which also dramatically reduced our income.
There are many projects to undertake including roof repairs, replacement stain glass windows, pointing and much much more. Now that we are able to operate at a full audience capacity we can start planning fund raising events to move forward with these and other projects.
Pavilion Theatre Restoration Ltd, Pier Gardens, Gorleston, Norfolk NR31 6PP Charity Registration Number 1142375
Charity registration number 114237S Company reglstrdtlon number 07311986 (England and Wales) PAVILION THEATRE RESTORATION LTD ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 PAGES FOR FILING WITH REGISTRAR
PAVILION THEATRE RESTORATION LTD LEGAL AND ADMINISTRATIVE INFORMATION Tru$t*es Mi S Malkowth Charity number 1142375 Company number 07311986 Principal address Palon Theatrè Pièr Gardens Gorleston Great Yarmoulh Norfolk Englan NR316PP Roglstsred offic• 7 Church Plain Gieat Yamiouth Norfolk England NR30 1PL Indepondgnt examiner Dominic Shaw FCCA Aslon Shaw Limited Chartered Certified Accountants The Union Building. 51-59 Rose Lane NOlCh Norfolk England NR1 1BY
PAVILION THEATRE RESTORATION LTD CONTENTS Pago Trustees raport Statement of finanual a¢tivrties Balance sheet Notes lo the finanryal statements 6-10
PAVILION THEATRE RESTORATION LTD TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 JULY 2021 The trustèes present their annual report and financial stalements for the yew ended 31 July 2021. The financial statements have been prepared in accordan wilh the aunkn9 polK4es set out in note 1 to the financial slaternents and comply with the charity's ar11$ of association, the Companies Act 200S and Accounting and Reporting by Charities.. Statèment of Recommended Piaciice applicab to charities prèpanng Iheii accoun15 in accordan¢e with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1Q21" leffè¢live 7 January 20791. Objectives and activities The preservation, restoration and maintenance for Ihe public benefit of the Pawfn Theatre and thè advancement of the education of the public in the history and architecture ol the building. To advance the education of the public in the arts Ihrough the provision of partiapatory wothshops and by such other means as the trustees may determine. To prornole tha arts for the public bènefil in particular. bLrt not exdusively, the dr¥. musal and perforrning arts. The trustees have paid due regard lo guidance issued by Iho Charity Conwni55ion in decbding what activitie5 the charity should undertake. A¢hievements and perf0rn7ancè The ¢harily along with many other chaiities has seen a signifKant drop in &tnalions over Ihe past year due to the affects of Covid. During this period we were closed for over 15 months and Iherefore nol able to do any fund raising events which also drarnalically reduced our income. There are many projects to undertake including coof repairs. replacement slain glass wndows. Pointing and much much more. Now that we are able lo operate at a film allence capaaty we can start planning fund raising events to move forward with these and other piojects. Finaneial review The charity is currently fisnded by donations from theatre adivtties SLK* as S)w$ and dimers. These lund5 are kept to undertake key works such as maintenance ol the roof and other builjng features. The directors & Iruslees believe the charitable [mpanY will continue for at least 12 months and considered the effects of COVID-19 to the charitable actimties. The resewves are unrestricted however they must be useil towards ihe chantys c&jective$. Plans for futurè periods The trustees are looking lo raise finance for the pair of the roof in Ihe corning financial year along with other projec15 when the money becomes available. Structure. governanca and managemènt The charity is a c4)mpany limited by guarantee as defineil by the Companies A¢t 2006 and controlled by its governing document, artides of associatitin. The Iruslees, who are also the directors for the purpose of Ixynpany law. and who serverf during the year and up to the date ol signature of Ihe financial statements were". Mr S Malkovi¢h
PAVILION THEATRE RESTORATION LTD TRUSTEES REPORT (INCLUDING DIRECTORS, REPORTI {CONTINUED) FOR THE YEAR ENDED 31 JULY2021 None of the trustees has any beneficAal interest in the company. All of Ihe tDJStees *9 members of the company and guarantee to conlribule £1 in the event of a winding UP. The trust deed states that the charity must have a minimum of three trustees. Every lufure trustee 15 appointed after a major vole by resolution of the trustees passed at a special meeting. When appointing new trustees the charity shall take into aOUnt the beneffts of appntIng a person who through residen¢e. occupation. ernploymenl or otherwise ha5 a special knowledg6 of the area ol benefit or who is otheiSe able by virtue of his 01 her personal or professal qualifKations to make awntribtilion to the pursuit of the objects or the management of the charity. The trLtste&s report was approvÈd by the Board of Trustees. Mr S Malkovi¢l) Trustee Dale..
PAVILION THEATRE RESTORATION LTD INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PAVILION THEATRE RESTORATION LTD I report to th8 tru51ees on my examination of the ancIal statement5 01 Pavknn Theatre Re5torab"on Ltd Ilhe charity) for the year ended 31 July 2021. Respon8lbllltle$ and basis ol report As the Irust8es of the charity larbd also It$ dire¢lNs l¢r the purposes of cornpany lawl you are responsible foi the preparation of Ihe financial statement5 in accordance wlh Ihe reiuirement5 If the Companies Act 2008 Ilhe 2006 Acll. Having sali$fied my5ell that the finanrial slateTTnis of Ihe charily are not required fo be audited under Part 16 of IlTre 2006 Acl and are eligible lor independent examinatn. I report in respect of rry examination of Ihe tharily's rinancial 51atemtrnts carried out under section 145 of the Charitie$ Acl 2011 Ilhe 2011 Acll. In catrying out my examlnalion I have followed all the sppb¢able Dwedions given by Ihe Charity Cornmi5sion under seclion 14515llbl ofthe 2011 Act. I have Gornpleled my ex8minalion. I have identikd a matter ol ¢teM in fewjrt becavse I have concems Ihal Ihe charity forwarded a £10.000 COVIO granl to a Irusiee's (Mr S Maovthl personal trading company Razmalaz Ltd during Ihe year ended 31104rd020. Ouring the year endert 3110712020. the charity was repakl £1,344. The remlThj b8knc8 was repaid during Ihe year 8nded 3110712021 through donations whith paid lor building expenses foilhe benefjt ofthe charity. I confirm that no other malters have ¢(MY Its wny allention in (xe10n with the examination giwng me cause lo believe th81 in any material respecl.. accounting records weTe nol k8pI in resped of the charity as requi bysethin 386 01 Ihe 2(K)6A¢t.' or the financial s121einen15 do nol accord wilh those records. or thè financial 5talemenl$ do not ¢ornpty wilh the accountg requiiemen15 of 5eclhm 396 of the 2( Acl other than any requiretnenl Ihal Ihe actounls gwe a Itue and fair view wJw¢h i$rtoi a maiterwnsKJered a5 part of an ndependent examination,. or Ihg financtal staletneTrls have T1 been prepad ifi accordance wdh the mthods and principles of the Slalament of Recommeniled Pwactice for accounting and POrting by charities 8pplicable lo charities preparing their a¢¢ouThls in accordance Ihe Finanual Reporting Slanrjard applible in the UK and RepubliG ol Ireland IFRS 1021. I coTrfirm that there are no olher mallers in conneclrtn Mlh ihe examination lo atlenlion 5htyJld be drawn in this report in order lo enable a propel undetstsnding of Ihe financial Slatemenl%to b8 reached. Domlnlc Shaw FCCA Aston Shaw Limiled Chartered Cerbfied Accounlanls The Unlon Building. 51-59 Rose Lane Norwl¢h Norfolk NR1 18Y En9lan Oaied". 0,è.6,, ZL
PAVILION THEATRE RESTORATION LTD STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JUL Y 2021 Unresthcted Unrestricted lunds funds 2021 2020 Notes Incom• rom: Donations and legacies Charitable activitres 32.391 23,296 6.279 Totsl incom• 32.391 29.575 Ex nditure on: Raising funds 609 359 Charitable activilies 41.007 22.724 Total expenditure 41,616 23.083 Nèt lexpenditurellincom? for the yearf Net movement In funds {9.2251 6,492 Fund balances al l August 2020 7,311 819 Fund balancos at 31 July 2021 (1.9141 7,311 The slatemenl of finanaal activitS Ile5 an gains and10sse5 recognised li the year. All income and expenditure derive from c4Jntinuing actiw"lie5. Th8 Statement ol financial activities also complies wilh the requirements f an irK0* and expenditure acLount under the Companies Act 2006.
PAVILION THEATRE RESTORATION LTD BALANCE SHEET AS AT 31 JULY2021 2021 2020 Not•s Currant assets Debtors Cash al bank and in hand 8.666 1.279 652 652 9,945 Credltors: amounts falling dug within ono year 10 12.5661 {2.6341 Nel curienl Iliabililiesllassets 11.9141 7.311 Income funds Unrestricted funds (1.9141 7,311 11,9141 7.311 The company is entitled to Ihe exemptitsn from the audit requirement conts¥Ed in section 477 01 the CompaniesAct 2006, for the year ended 31 July 2021. Tha directors acknowledge IheiT responsibilitie5 for complying with Ihe rewireTnenls of the Companie5 Act 2006 with respect to accounting iecords and Ihe preparation of financial statemenls. The member5 have not required thè rnpanY lo obtsin an audit of rts financial statements for the year in question in accordancè with section 476. Thgse finanaal 51alements have been pPared and delivered in accordance with tho Jyowsions applicable to companies subject to the small [mpanieS regime. The financial statements were approved by the Trustees on ....... Mr S Malkovich Trustoe Company registrntion numbèr
PAVILION THEATRE RESTORATION LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JUL Y2021 Accountlng policies Charity inforniatlon Pavilion Theatre Restoralitsn Ltd is a private cornpany limited by guarantee incorporated in England and Walès. The registered office 15 7 Church Plain. Greal Yarrnouth, Norfdk. NR30 1 PL, England. 1.1 Ac¢ounting conv•ntion The financial statements have been Pfepared in accordance with the charity's tgoverning documèntl, the Companies Act 2006. FRS 102 "The Financial Reporting Standard applicable in Ihè UK and Republic ol Irèland" I"FRS 102.1 and the Charrties SORP "Accounting and ReportiNJ by Chaiities". Slalernenl of Recommended Piadice applicable to charities preparing therr accounts in a¢(x)rdanGe with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)" (effective 1 January 20191. The charity is a Public Benefit Entty as defined by FRS 102. The charity has taken advantsge ol the provisw)ns in Ihe SORP for thaniies not lo prepare a Ststement of Cash Flows. The financral Statements are prepared in stertin9. whth is the frJnctKinal currenry of the charity. Monetary amounts in these finanaal statements are rounded to the nearest £. The financial statèments have been prepared vrer the historical ust u)nv8ntion. Imodrfied to include the revaluation of freehold properties and to include investment propertiè$ and certain financial instruments al fair valuèl. The principal accounting policies adopted are sel out below. 1.2 Golng conc•m Al th8 lime of appmving the financial statement5. the Irustees have a aSOnable expectation that the charity has adequate r8source5 to continuè in operational existence ft)r the foreseeable future. Thus Ihe Iru51ees continue to adopt the going concem basis of accouftting in pieparing fwon(ial statements. 1.3 Charitable fund¥ Unreslricled funds are available for use at the discreltyjn of the tWU51ees in furtherance of Iheir charrtable objectives. Raslricted funds are subjeci to specthc condilions by donors as lo how they rnay be used. The purposès and uses of the restricted fijnds are sel out in Ihe notes lo Ihe financ4al slalemenl5. Endowment lunds are subject to specific conditions by donors ihat the pital musl be maintained by the charity. 1.4 Income Income is recognised when the charty is legalty entilled to it after any performance conditions have been mel. the amounts can be measufed reliably. and it is probable that income 11 be reived. Cash donations are recognised on receipl. Other donation5 are recogni5ed On the ¢haiity has been notified ol the donation, unless performance condrtions require deferral of amount. Income lax rècoverable in relation lo donations ¥eceived undor GfftAid or deeds of covenant is recognised al the time of the donation. Legacies are rècognised on recèipt or olherwise ff the ¢harity has been nolifi&J ol an impendpng distribution. the amount is known, and r1p1 15 expected. If the amount is rnt the legacy is treatad as a contingent asset.
PAVILION THEATRE RESTORATION LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JUL Y 2021 A¢counting policies Icontlnuèdl 1.$ Expendlturo Expènditure is rècognised oncè there is a legal 01 cThislructNe oblKJaticn to transfei eo)nomic benefit to a Ihird party, it is probable that a transfer of economK benefits will be requyad in settlement. and the amount ol thè obligation can be rneastsred ieliably. Expenses incurted for the pSerVatn, rèstoration and maintenance of the Pavilion Theatre afè accounted for as property repairs on thè Statement ol FinancialActiwty. 1.6 Cash and ¢a$h equival•nts Cash and cash equivalènts include cash in hand, deposrts held al call with banks, other short-lerm liquid Investments with original maturities of thiee rnonlhs or less. and bank owdrafts. Bank overdraft5 are shown within borrowings in current liabilities. 1.7 Flnancial instrumtrnts The charity has elected lo apply the provisions of Seth"on 11 'Basic Finanoal InstrumeThls' and Section 12 'Olher Financial Instruments Issues. ol FRS 102 lo all of 115 financial instruments. Finanual instruments are recognised in the chanty's balan sheet when the charity becornes party lo the contractual provisions of the instrument. Financial assets and liabilities are offsèt. with the net amoun15 presented in the financial statemenls, when there is a legally enlorceable right to sèt off the recognisèil arnounls aThJ there is an intention lo settlè on a nel basis or to realise the a55el and settle the liability simultsneously. Basic financial a55els Basic financial assats. which include debtors and ¢ash and ba bans. are inihally rneasured al transaction price including transaction cosls and are subsequently carried al amorbsed cost using the effectivg interèst method unless the arrangement conslrtules a finanong transact)n, where the transaelion is measured at the present value of the l¢Jture receipts discounted al a market rale of interest. Financial as5els classified as ra¢eivable within one year ai8 not arnortised. Basic flnancial liabllities Basic financial liabilities, induding creditors and bank loans a inilialty recogni4ed at transaction price unless the arrangement constitutes a financing transaction, where the debt Instnjment is measured al the present value of the future payments discounted at a markèt rate of interest. Finala1 liabilitie5 dassified as payable within one year arè not amortised. Debt instruments are subsequentty carried at amortised cost. Using the efftIVe interest rale method. Trade creditors are obligations to pay for goods or 5eNKes Ihat have ken acquired in the ordinary course of operations from suppliers. Amounts payable are classified as currenl Iiabililies if payment is due within one year or less. If not. Ihey are presentèd as non-current liabilities. Trade ueditors are fecognised initially at transaction price and subsequently mèasured at amortised cost using the effective Interest method. Derecognition of flnancial Ilabllilies Financial liabilities are derecognised when the charrty's contractual obligations expire or are discharged or cancelled.
PAVILION THEATRE RESTORATION LTD NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 JULY 2021 Critical accounting estimat•s and judgemènts In Ihe appli¢alion of the eharriy's accounb.ng poliaes, the tnJst8es arè required to make I9MntS. estimates and assumptions about the carrying amouril of assets and li8bililie5 Ihat are not readily apparent from other sources. The estimate5 and associated assumptions are based on hL51oriGal experien and other factors that are considered to be relevant. Actual resulis may dtffer frorn Ihese estmales. The estimate5 and undèitying assumpts'ons are ieviewed on an gOIng bastq. Revisions to a¢untIng estimates are recogniséd in the period in which the estimate is revised where the tevision affects only that period. or in the period of the revision and lulure periods wher& the reifision affects both current and future periods. Donations and lègacies Unr¢stri¢tsd Unre51ricted funds funds 2021 2020 Donations Govefnmenl grants receivable and relaased 24.391 8,765 14.531 32.391 23.296 Charitablo activitie3 2020 2020 Sales within chafitable activities 6,279 Raislng fund5 Unrestrictsd Unrestricted funds funds 2021 2020 Fundraisin nd ublici Staging fundraisin9 events 359 359
PAVILION THEATRE RESTORATION LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JUL Y2021 Charitable activltl•s 2021 2020 Property repairs and maintenance Repairs and renewals Motor 6xpen5e5 Accountancy 38.146 2,177 43 641 19.259 2.627 838 41.CM)7 22.724 41,007 22,724 Tru$tses None of th¢ twslees lor any pg(sons connecled with them) iecewl any remuneration or benefits from the charity during the year. Employees The average monthty number of employees during the year was.. 2021 Numbèr 2020 Number Total There were no employeès whose annual remunéiab.on was more than£60.OCKI. D•btorn 2021 2020 Amounts falling dug wlthln one year: Olher debtors 8,666 10 Creditors- amounts falling due within year 2021 2020 Trade creditors Accruals and deferred income 2,018 548 2.136 498 2,566 2.634
PAVILION THEATRE RESTORATION LTD NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 JULY 2021 11 Rètirement b•nfrfit 5chem8s The charity operates a defir corbtributitin pension sch&me for all ¢JJalfying employees. The a55els ol the schemè are held separately from those of Ihe charity in an independently adrninislered fund. 12 R¢lated party transactions Transa¢tions with rèlatsd partigs During the year the charty entered inlo the folk)wing Iransaclions wrth &latod parties.. Last year. the charity sent £10,( to a trustee's, Mr S Malkov•. peJ50nal trading company Razmatsz Ltd on 3010412020. The amount was donatad to the charity for iys charitable purposes. £1,344 was paid back during the yaar. During Ihe financial yeaT. the rèmaining £8,666 was paid back to the charity by don*ions conlribuling lo the pavilion's propety repairs. During the financial year, Mr S Malkovich also donated an addth.orol £21.643 which )ntributed to furthèr property repairs. 10-
PAVILION THEATRE RESTORATION LTD INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PAVILION THEATRE RESTORATION LTD I report to the trustees on my examination of the financial slatements of Pavilion Theat Restoratlon Ltd (the charityl for the year ended 31 Juty 2021. Re5ponslbllitle$ ond basls of report As the trustees of the charity land 8150 its di¥ectors for Ihe wrposes of company lawl you are responsible for th8 Preparation of the financial statements in ar[dance wlh the wuirements of the Companies ACJ 2006 (the 2006 Actl. Havin9 satisfied mysew that the finanrial statements of the chaHty are nol reqtsired to be altdited under Part 16 of the 2006 Act and are eligible for independent examinaiion, I report tn respect of rny examination of the charity's financial statements Carried out under section 145 of the Charibes Act 2011 {the 2011 Act). Sn cairying out my examination I have followed all the applthble Dire¢tKJns given by Ihe Charity Commission under section 14515llbl of the 2011 Acl. I have cornpleted my exatnination. I have identified a matter of ncern in my reporl because I have conceffls that the Charity forwarded 8 £10.000 COVID g¥ant to a trustee's (Mr S MaU(ovid)I personal trading Cornpany Razmalaz Ltd durin9 the year ended 31MJ412020. During the year ended 31107r2020. the tharty was repaid £1,344. The remaining balance was repaid ¢Yuring the year ended 3110712021 Ihrough donations which paid for building expenses for Ihe benelrt of Ihe charity. I confirm that no other matters have come to my altents.on in conneth.on wth the examination giving me Cause to believe that in any material respecl.. aOUntIng records were nol kept in respect ol Ihe charity as required by sectKJn 386 01 Ihe 2006 Act., or the finanoal statements do nol accord wrth those cOrdS., or the financial statements do not cotnpty wlh the a¢countsng requirements of section 396 of the 2008 Act other than any requirement that Ihe acrunts give a bue and fair ¥1 which is nol a matter considered as part ol an independenl examination", or the Iinancial statements have not been prepared in acwrdance wilh the methods 2nd principles of the Statement of Recommended Practice lor accounb.ng and repoTting by dritIeS applirable to charities preparing their acConts in accordafice wtth Ihe FinaYh(ial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021. l ¢onfirm that there are no olher matters in connedwJTh wth the exatninatioTr to which attention should be drawn in this report in order to enable a proper underslandin9 of the fjnanryal Slatements to be reached. Dominlc Shaw FCCA Aston Shaw knmiled Chartered Certified Accouniants The Union Building. 51-59 Rose Lane Norwich Norfolk NR1 1BY England Dated".