Company registration number: 07768331 Charity registration number: 1144349
## Stoke Youth Musical Theatre Company
known as
Stoke Youth & SYMTC
(A company limited by guarantee) Annual Report and Financial Statements
for the Year Ended 31 December 2020
Daryl Denson ACMA VAST The Dudson Centre Hoe Street Stoke on Trent ST1 5DD
## **Stoke Youth Musical Theatre Company**
## **known as Stoke Youth & SYMTC**
## **Contents**
|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2 to 3|
|Independent Examiner's Report|4|
|Statement of Financial Activities|5 to 6|
|Balance Sheet|7|
|Notes to the Financial Statements|8 to 18|
## **Stoke Youth Musical Theatre Company**
## **known as Stoke Youth & SYMTC**
## **Reference and Administrative Details**
**Trustees** Kevin Downward Paul Hassall Ann Mason Susan Salvo Christopher Bell Paul Bolam **Secretary** Kevin Downward **Principal Office** 97 London Road Chesterton Newcastle Staffordshire ST5 7LR The charity is incorporated in England. **Company Registration Number** 07768331 **Charity Registration Number** 1144349
**Bankers**
## **Independent Examiner**
Unity Trust Bank 9 Brindley Place Birmingham B1 2HB Daryl Denson ACMA VAST The Dudson Centre Hoe Street Stoke on Trent ST1 5DD
Page 1
## **Stoke Youth Musical Theatre Company**
## **known as Stoke Youth & SYMTC**
## **Trustees' Report**
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 December 2020.
## **Trustees**
Kevin Downward
Paul Hassall
Ann Mason
Susan Salvo
Christopher Bell
Paul Bolam (appointed 19 March 2020)
## **Objectives and activities**
## _**Objects and aims**_
The objects of the charity are the development of children & young people, primarily through the medium of performing arts and to educate the public in the dramatic and operatic arts and to further the development of public appreciation and taste in the said arts.
## _**Public benefit**_
The main way of delivering the charity's objectives is through the staging of full length musicals. Participation in these is through an open audition process. We also provide a programme of workshops, rehearsals, concerts and various other performances. In addition, the charity provides training and entrance into the LAMDA (London Academy of Music & Dramatic Art) examination scheme, alongside other workshops through the Academy.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
## **Structure, governance and management**
## _**Nature of governing document**_
The charitable company is governed under its memorandum and articles of association adopted on 9 September 2011.
## _**Recruitment and appointment of trustees**_
Trustees are appointed, by members of the charity, at its AGM. Existing trustees retire (and may stand for re-appointment) in rotation.
Page 2
Stoke Youth Musical Theatre Company
known as Stoke Youth & SYMTC
Trustees. Report
Financial rv4iew
Policy on reserves
The rM)Iicy of the tharty LS to aim to hohy arouThY £10.C(Q of unreytn.cied Teserves Nthi¢h 6 egtimaled
to te enough to cover a SKJnifitnI Ioss ¢)n a show aTrJ around 5TX monir6 njnning costs for the
prerneS rf there is a clcse peik>J. The trustees have t*en hrkIng lovftrts maintsiniro the
level ot unrestncted reserves hekj At 31 Decemter 2020 unrestrted reserves held were £42.771
12019 £10.8871
Achievements and performance
During 2020 the charrty had plan[ to conts.nue e5tablish&J t1rnetab of staging full
length musicals per year to a professional stsThJard. In the earfy part of the year preparing lo stage
'Grease' in the spnr¥J
unfortun*ety due to the Cov¥*19 paTrJemic the Charty wa5 forced to
shutdown telore beirvJ able to st•Je the lrt k% now anned lo stage rt in the autumn of
20211
The Academy (x)ntinued Vkty Musical Theatre VrkshOF6 to deFNer educats.on lo young people to
prepare lor enter Into LAMDA examinations. arthOkn thLS was also affeded by Covid-19
restridions meanirg that for m¢)st oflhe year se0 swtthed to online delNery.
Plans are in place to retum to F1(*1 delNery a5 SC a5 CovcM*19 re51rictsns all¢yw.
Small companies provision slatemenl
This rep)rt has been Weied in accordance V*Tth the small companies regime urKleT the Companies
ALI 20C6.
and signed on rts
tehalf by:
Company Seuetsry aTrJ Trustee
Page 3
## **Stoke Youth Musical Theatre Company**
## **known as Stoke Youth & SYMTC**
## **Independent Examiner's Report to the trustees of Stoke Youth Musical Theatre Company**
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2020 which are set out on pages 5 to 18.
## **Respective responsibilities of trustees and examiner**
As the charity’s trustees of Stoke Youth Musical Theatre Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of Stoke Youth Musical Theatre 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:
1. accounting records were not kept in respect of Stoke Youth Musical Theatre 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.
...................................... Daryl Denson ACMA
VAST The Dudson Centre Hoe Street Stoke on Trent ST1 5DD
24/06/2021 Date:.............................
Page 4
## **Stoke Youth Musical Theatre Company**
## **known as Stoke Youth & SYMTC**
## **Statement of Financial Activities for the Year Ended 31 December 2020 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)**
|**Note**
**Income and Endowments from:**
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Total income
**Expenditure on:**
Raising funds
6
Charitable activities
7
Total expenditure
Net income
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
15|**Unrestricted**
**funds**
**£**
52,586
2,807
157
55,550
(83)
(23,583)
(23,666)
31,884
31,884
10,887
42,771|**Restricted**
**funds**
**£**
500
-
-
500
-
(500)
(500)
-
-
-
-|**Total**
**2020**
**£**
53,086
2,807
157|
|---|---|---|---|
||||56,050|
||||(83)
(24,083)|
||||(24,166)|
||||31,884|
||||31,884
10,887|
||||42,771|
The notes on pages 8 to 18 form an integral part of these financial statements. Page 5
## **Stoke Youth Musical Theatre Company**
## **known as Stoke Youth & SYMTC**
## **Statement of Financial Activities for the Year Ended 31 December 2020 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)**
|**Note**
**Income and Endowments from:**
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Total income
**Expenditure on:**
Raising funds
6
Charitable activities
7
Total expenditure
Net income/(expenditure)
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
15|**Unrestricted**
**funds**
**£**
9,347
53,094
680
63,121
(790)
(56,683)
(57,473)
5,648
5,648
5,239
10,887|**Restricted**
**funds**
**£**
831
-
-
831
-
(939)
(939)
(108)
(108)
108
-|**Total**
**2019**
**£**
10,178
53,094
680|
|---|---|---|---|
||||63,952|
||||(790)
(57,622)|
||||(58,412)|
||||5,540|
||||5,540
5,347|
||||10,887|
All of the charity's activities derive from continuing operations during the above two periods.
The notes on pages 8 to 18 form an integral part of these financial statements. Page 6
Stoke Youth Musical Theatre Company
known as Stoke Youth & SYMTC
(Registration number: 07768331)
Balance Sheet as at 31 December 2020
2020
2019
Note
Current assets
OeL*ors
Cash * bank in haTra
12
13
9.774
33.612
9,336
2, 181
43.386
11,517
Credltors: Amounts lalllng dua wilhin one ye
14
615
630
Net assets
42,771
10,887
Funds cd the charity".
Unrestricted income funds
Unrestncted luTr
42.771
10.887
Total funds
15
42.771
1D.887
For the financial year eTrJirg 31 Decembei 2020 Ihe L*anty was entrtl&Y lo exemFrtion from audrt
under serAion 477 olthe Companies Ad 2006 iel&"TrJ lo small companies.
Directors, responsit41rtw'.
The memters have not required tre chanty to ottsin an aLhdrt of rts ants lor the year In
question In accordance seth)n 476. and
The director5 acknovAedge their re$Fon%ts'lrt for comrwThJ ¥h the requiTemerrts of the Act with
respect to accounting Tecord5 arnj the weFArntr'on of accwnts.
These accounts have been wered accordance V*)th the a[p1&t4e to Gompanies
subject to the small companies regime.
The financial statements on pages 5 to 18 were aFvoved ty the trustees. authorFsed for issue on
261•r/Ji and signed on their behalf by.
Kevi
ro
any Secretary aThJ Trustee
The notes on pJJe$ 8 to 18 an irrtegral part of these financk41 statements.
## **Stoke Youth Musical Theatre Company**
## **known as Stoke Youth & SYMTC**
## **Notes to the Financial Statements for the Year Ended 31 December 2020**
## **1 Charity status**
The charity is limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
The charity is incorporated in England. The registered office address is 97 London Road, Chesterton, Newcastle under Lyme, Staffordshire, ST5 7LR.
## **2 Accounting policies**
## **Summary of significant accounting policies and key accounting estimates**
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
## **Statement of compliance**
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 (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.
## **Basis of preparation**
Stoke Youth Musical Theatre Company 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 notes.
## **Going concern**
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
## **Income and endowments**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Page 8
## **Stoke Youth Musical Theatre Company**
## **known as Stoke Youth & SYMTC**
## **Notes to the Financial Statements for the Year Ended 31 December 2020**
## _**Donations and legacies**_
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
## _**Grants receivable**_
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
## _**Raising funds**_
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
## _**Charitable activities**_
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.
## **Governance costs**
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including independent examination, strategic management and trustees’s meetings and reimbursed expenses.
## **Government grants**
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
Page 9
## **Stoke Youth Musical Theatre Company**
## **known as Stoke Youth & SYMTC**
## **Notes to the Financial Statements for the Year Ended 31 December 2020**
## **Taxation**
The charity 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 charity 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.
## **Trade debtors**
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Page 10
## **Stoke Youth Musical Theatre Company**
## **known as Stoke Youth & SYMTC**
## **Notes to the Financial Statements for the Year Ended 31 December 2020**
## **3 Income from donations and legacies**
|Donations and legacies;
Donations from individuals
Gift aid reclaimed
Grants, including capital grants;
Government grants
Grants from other charities
Theatre Tax Relief
Donations and legacies;
Donations from individuals
Gift aid reclaimed
Grants, including capital grants;
Grants from other charities|**Unrestricted**
**funds**
**General**
**£**
335
3,562
23,468
-
25,221
52,586
**Unrestricted**
**funds**
**General**
**£**
469
8,878
-
9,347|**Restricted**
**funds**
**£**
-
-
-
500
-
500
**Restricted**
**funds**
**£**
-
-
831
831|**Total**
**2020**
**£**
335
3,562
23,468
500
25,221|
|---|---|---|---|
||||53,086|
||||**Total**
**2019**
**£**
469
8,878
831|
||||10,178|
Page 11
## **Stoke Youth Musical Theatre Company**
## **known as Stoke Youth & SYMTC**
## **Notes to the Financial Statements for the Year Ended 31 December 2020**
## **4 Income from charitable activities**
|Premises Hire
Attendance Fees
Premises Hire
Attendance Fees
Show Income|**Unrestricted**
**funds**
**General**
**£**
64
2,743
2,807
**Unrestricted**
**funds**
**General**
**£**
1,345
6,846
44,903
53,094|**Total**
**2020**
**£**
64
2,743|
|---|---|---|
|||2,807|
|||**Total**
**2019**
**£**
1,345
6,846
44,903|
|||53,094|
Page 12
## **Stoke Youth Musical Theatre Company**
## **known as Stoke Youth & SYMTC**
## **Notes to the Financial Statements for the Year Ended 31 December 2020**
## **5 Income from other trading activities**
|Local fundraising and street collection income
Local fundraising and street collection income|**Unrestricted**
**funds**
**General**
**£**
157
157
**Unrestricted**
**funds**
**General**
**£**
680
680|**Total**
**2020**
**£**
157|
|---|---|---|
|||157|
|||**Total**
**2019**
**£**
680|
|||680|
## **6 Expenditure on raising funds**
## **a) Costs of trading activities**
|**Note**
Fundraising trading costs;
Fundraising
**Note**
Fundraising trading costs;
Fundraising|**Unrestricted**
**funds**
**General**
**£**
83
83
**Unrestricted**
**funds**
**General**
**£**
790
790|**Total**
**2020**
**£**
83|
|---|---|---|
|||83|
|||**Total**
**2019**
**£**
790|
|||790|
Page 13
## **Stoke Youth Musical Theatre Company**
## **known as Stoke Youth & SYMTC**
## **Notes to the Financial Statements for the Year Ended 31 December 2020**
## **7 Expenditure on charitable activities**
|Activity undertaken directly
Activity undertaken directly
Production costs
Workshop costs
Premises costs
Insurance
Subscriptions
Sundry expenditure
Bank charges
Professional Fees
Governance Costs
Production costs
Workshop costs
Premises costs
Insurance
Subscriptions
Sundry expenditure
Bank charges
Governance Costs|**Unrestricted**
**funds**
**General**
**£**
23,584
**Unrestricted**
**funds**
**General**
**£**
56,683|**Restricted**
**funds**
**£**
500
**Restricted**
**funds**
**£**
939
**Activity**
**undertaken**
**directly**
**£**
49
2,933
13,998
300
240
2,260
84
3,720
500
24,084
**Activity**
**undertaken**
**directly**
**£**
39,999
4,719
10,027
290
200
1,556
332
499
57,622|**Total**
**2020**
**£**
24,084|
|---|---|---|---|
||||**Total**
**2019**
**£**
57,622|
||||**2020**
**£**
49
2,933
13,998
300
240
2,260
84
3,720
500|
||||24,084|
||||**2019**
**£**
39,999
4,719
10,027
290
200
1,556
332
499|
||||57,622|
Page 14
## **Stoke Youth Musical Theatre Company**
## **known as Stoke Youth & SYMTC**
## **Notes to the Financial Statements for the Year Ended 31 December 2020**
## **8 Analysis of governance and support costs**
## **Governance costs**
|Independent examiner fees
Examination of the financial statements
Independent examiner fees
Examination of the financial statements|**Unrestricted**
**funds**
**General**
**£**
9
9|**Unrestricted**
**funds**
**General**
**£**
500
500
**Restricted**
**funds**
**£**
490
490|**Total**
**2020**
**£**
500|
|---|---|---|---|
||||500|
||||**Total**
**2019**
**£**
499|
||||499|
## **9 Government grants**
The charity received from Stoke- on- Trent City Council to provide emergency Covid-19 support. The amount of grants recognised in the financial statements was £23,468 (2019 - £-). There were no unfulfilled conditions at the year end.
## **10 Trustees remuneration and expenses**
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
## **11 Taxation**
The charity is a registered charity and is therefore exempt from taxation.
Page 15
## **Stoke Youth Musical Theatre Company**
## **known as Stoke Youth & SYMTC**
## **Notes to the Financial Statements for the Year Ended 31 December 2020**
|**12 Debtors**
Trade debtors
Prepayments
**13 Cash and cash equivalents**
Cash at bank
Other cash and cash equivalents
**14 Creditors: amounts falling due within one year**
Accruals
Deferred income at 1 January 2020
Amounts released from previous periods
Deferred income at year end|**2020**
**£**
30
9,744
9,774
**2020**
**£**
33,612
-
33,612
**2020**
**£**
615|**2019**
**£**
662
8,674|
|---|---|---|
|||9,336|
|||**2019**
**£**
2,150
31|
|||2,181|
|||**2019**
**£**
630|
|||**2019**
**£**
1,930
(1,930)|
|||-|
Page 16
## **Stoke Youth Musical Theatre Company**
## **known as Stoke Youth & SYMTC**
## **Notes to the Financial Statements for the Year Ended 31 December 2020**
## **15 Funds**
|**Unrestricted funds**
**_General_**
General Funds
**Restricted funds**
Tesco Bags
**Total funds**
**Unrestricted funds**
**_General_**
General Funds
**Restricted**
SCVYS Grant
SCVYS Local Support Grant
2019
VAST Bursary Fund
**Total restricted funds**
**Total funds**|**Balance at 1**
**January 2020**
**£**
10,887
-
10,887
**Balance at 1**
**January 2019**
**£**
5,239
108
-
-
108
5,347|**Incoming**
**resources**
**£**
55,551
500
56,051
**Incoming**
**resources**
**£**
63,121
-
341
490
831
63,952|**Resources**
**expended**
**£**
(23,667)
(500)
(24,167)
**Resources**
**expended**
**£**
(57,473)
(108)
(341)
(490)
(939)
(58,412)|**Balance at 31**
**December**
**2020**
**£**
42,771
-|
|---|---|---|---|---|
|||||42,771|
|||||**Balance at 31**
**December**
**2019**
**£**
10,887
-
-
-|
|||||-|
|||||10,887|
Page 17
## **Stoke Youth Musical Theatre Company**
## **known as Stoke Youth & SYMTC**
## **Notes to the Financial Statements for the Year Ended 31 December 2020**
The specific purposes for which the funds are to be applied are as follows:
## SCVYS Local Support Grant 2019
To purchase tools to be used by set building volunteers.
## VAST Bursary fund
To purchase accounts and independent examination services.
## SCVYS Grant
To purchase replacement flooring in the rehearsal room, a new website and to pay for dance lessons for talented young members. The remaining balance was spent on the new website.
## SCVYS Local Support Grant
To purchase an electronic keyboard and hand held microphones.
## Tesco Bags- Groundwork UK Grant
To purchase PPE equipment for the studio to facilitate use of the venue.
## **16 Analysis of net assets between funds**
|Current assets
Current liabilities
Total net assets
Current assets
Current liabilities
Total net assets|**Unrestricted**
**funds**
**General**
**£**
43,386
(615)
42,771
**Unrestricted**
**funds**
**General**
**£**
11,517
(630)
10,887|**Total funds**
**at 31**
**December**
**2020**
**£**
43,386
(615)|
|---|---|---|
|||42,771|
|||**Total funds**
**at 31**
**December**
**2019**
**£**
11,517
(630)|
|||10,887|
## **17 Related party transactions**
There were no related party transactions in the year.
Page 18