Company registmtion number". 07768331 Charity registration number.. 1144349 Stoke Youth Musical Theatre Company known as Stoke Youth, SYMTC, SYMTA IA company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 December 2023 Daryl Denson ACMA VAST The Dudson Centre Hoe Street Stoke on Trent ST1 5DD
Stoke Youth Musical Theatre Company known as Stoke Youth, SYMTC, SYMTA Contents Reference and Adminislralive Details Trustees, Report 2to3 Independent Examine¢s Report Statement of Financial Activities 5t06 Balan Sheet Notes to the Financial Statements 8t017
Stoke Youth Musical Theatre Company known as Stoke Youth, SYMTC, SYMTA Reference and Administrative Detsils Trustees Kevin Downward, Chaiman Paul Hassall Ann Mason Christopher Bell Paul Bolam Bevedey Capon Zoe Shone Secretary Kevin Downward, Chairman Charity Registration Number 1144349 Company Registration Number 07768331 The charity is incorporated in England. 97 London Road Chesterton Newcastle Slaffordshire ST5 7LR Principal Office Independent Examiner Daryl Denson ACMA VAST The Dudson Centre Hoe Street Stoke on Trent ST1 5DD Bankers Unity Trust Bank 9 Brindley Place Birmingham B12HB Page 1
Stoke Youth Musical Theatre Company known as Stoke Youth, SYMTC, SYMTA Trustees, Report The trustees, who are d1Clor$ 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 2023. Trustees and offlcers The trustees and officers serving during the year and Sin the year end were as follows.. Trustees.. Kevin Downward, Chairman Paul Hassall Ann Mason Christopher Bell Paul Bolam Beverley Capon Zoe Shone (appointed 7 April 20231 Objectives and activities Objects and aiTms The objects of the charity are the development of children & yOLJng people, primarily throLJgh the medium of performing arts and lo 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 and the provision of training and education in the performing arts. Participation in these musical productions is through an open audition process. We provide a programme of workshops, rehearsals, conrtS and various other performances. In addition, the charity provides training and entrance into the LAMDA (London Academy of Music & Dramatic Artl examination scheme, alongside other workshops through the Stoke Youth Academy. The Iruslees confirm that they have complied with the reqLJirements 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 govomiTng documgnt The charitable company is govemed under its memorandum and articles of association adopted on 9 September 2011. Recrultment and appolntment of trustees Trustees are appointed, by members of the charity, at ils AGM. Existing trustees retire land may stsnd for re-appoinlmentl in rotation. Page 2
Stoke Youth Musical Theatre Company known as Stoke Youth, SYMTC, SYMTA Trustees, Report Financial review The financial position of the charity is detailed in pages 5-17 of this report. Policy on reserves The poliw of the charity Is lo aim lo hold around £30,000 of unrestricted reserves which is estimated to be enough to cover a loss on a show and around a years running costs for the premises if there is a close down period. The trustees are continuing lo work towards maintaining the level of unreslricled reserves held. The free reserves al the end of the period are £ 39,77612022..£41,3351 Achievements and perfomiance This year the Trustees judged that the charity had re-eslablished itself fully, following on from the closedown due lo Covid-19 reslri¢lions, and laid plans for major increase In activity in 2024. Two full musicals were staged during the year- 'GREASE' & 'LES MISÉRABLES Ischools Edition), _ and two concerts. The Academy increased the number of weekly sessions delivered, increasing the number of students involved and increasing the number of students entered into LAMDA examinations 18118chieving Distinct level results). Small companies provision statement This report has been ppared in accordance with the small companies regime under the Companies Act 2006. The annual report was approved by the Iruslees of the charity 0ep.13, 2024 behalf by: and signed on its Kevin Downward Company secretary and trustee Page 3
Stoke Youth Musical Theatre Company known as Stoke Youth, SYMTC, SYMTA Independent Examiner's Report to the trustees of Stoke Youth Musical Theatre Company ('the Company, I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 DeMber2O23. Responsibilities and basis of report As the charity's trustees of the Company land also ils directors for the purposes of company lawl you are responsible for the preparation of the awounts in accordance with the requirements of the Companies Act 20061'lhe 2006 Acl'l. 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 ex8minab.on of your charity's accounts as carried out under section 145 of the Charities Act 2011 I'the 2011 Acl'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examiner's statement I have completed my examination. I confirm that no matters have come lo my attention in connection with the examination giving me cause lo 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 'lrue and fair view. which is not a matter considered as part of an independent examination., or 4. the accounts have not been prepared in accordan with the methods and principles of the Statement of Recommended PracliTr for accounting and reporting by charities lapplicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211. I have no concerns and have come across no other matters in connection with the examination lo which allenlion should be drawn in this report in order lo enable a proper understanding of the accounts lo be reached. Daryl Denson ACMA VAST The Dudson Centre Hoe Street Stoke on Trent ST1 5DD Date.. Sep 17, 2024 Page 4
Stoke Youth Musical Theatre Company known as Stoke Youth, SYMTC, SYMTA Statement of Financial Activities for the Year Ended 31 December 2023 Ilncluding Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Total 2023 Note Income and Endowments from: Donations and legacies Charitable activities Other trading activities Total income 18,629 74,271 617 18,629 74,271 617 93,517 93,517 Expenditure on: Charitable activities 95,076 95,076 Total expenditure Net expenditure 95,076 95,076 1,559 1,559 Net movement in funds 11,5591 11,5591 Reconciliation of funds Total funds brought forward Total funds carried forward 41,335 41,335 13 39,776 39,776 The notes on pages 8 to 17 form an inlegol part of these financial statements. Page 5
Stoke Youth Musical Theatre Company known as Stoke Youth, SYMTC, SYMTA Statement of Financial Activities for the Year Ended 31 December 2023 Ilncluding Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Restricted funds Total 2022 Note Income and Endowments from: Donations and legacies Charitable activities Other trading activities Total income 10,563 49,361 55 500 11,063 49,361 55 59,979 500 60,479 Expenditure on: Charitable activities 71,968 500 72,468 Total expenditure Net expenditure 71,968 500 72,468 11,989 11,989 Net movement in funds 111,9891 111,9891 Reconciliation of funds Total funds brought forward Total funds carried forward 53,324 53,324 13 41,335 41,335 All of the charity's activities derive from continuing operations during the above periods. The notes on pages 8 to 17 form an inlegol part of these financial statements. Page 6
Stoke Youth Musical Theatre Company known as Stoke Youth, SYMTC, SYMTA {Registration number: 07768331) Balance Sheet as at 31 December 2023 2023 2022 Note Current assets Debtors Cash at bank and in hand 10 7,914 37.882 8,284 34,781 45,796 43,065 Creditors: Amounts falling due within one year 12 6,020 1,730 Net assets 39,776 41,335 Funds ofthe charity: Unrestricted income funds Unreslricled funds 39,776 41,335 Total funds 13 39,776 41,335 For the financial year ending 31 DeTrmber 2023 the charity was entitled lo exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, SF)0nSibIlit1es". The members have not required the charity to obtain an audit of ils accounts for the year in question in accordance with secb'on 476, and The directors acknowledge their responsibilities for complying with the requirements of the Act with respect lo accounting records and the preparation of accounts. These financial statements have been prepared in accordance with the special provisions relating lo companies subject lo the small companies regime within Part 15 of the Companies Act 2006. The financial statements on pages 5 to 17 were approved by the trustees, and authorised for issue on Sep.13,2Q2A.... and signed on their behalf by.. Kevin Downward Company secretary and trustee The notes on pages 8 to 17 form an inlegol part of these financial statements. Page 7
Stoke Youth Musical Theatre Company known as Stoke Youth, SYMTC, SYMTA Notes to the Financial Statements for the Year Ended 31 December 2023 1 Charity status The charity is limited by guarantee, incorporated In England, and consequently does not have share capital. Each of the Iruslees is liable lo 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, Stsffordshire, STS 7LR. 2 Accounting policies Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the pparatiOn of these financial statements are sel 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 IFRS 1021 (effective 1 January 20191- (Charities SORP IFRS 10211, the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021. 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 ststed in the relevant accounting policy notes. Going concern The trustees consider that there are no material uncertainb'es about the charity's ability lo 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, SYMTA Notes to the Financial Statements for the Year Ended 31 December 2023 Donations and legacies Donations are recognised when the charity has been notified in writing of both the aTnount and settlement date. In the event that a donation is subject lo 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 reporbng period. Grants recelvable Grants are recognised when the charity has an entillemenl lo the funds and any conditions linked lo the grants have been met. Where performance conditions are attached to the grant and are yel lo be mel, the income is recognised as a liability and included on the balan sheet as deferred income lo be released. Expenditure All expenditure is recognised On there is a legal or conslruclive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated lo the applicable expenditure heading that aggregate similar costs lo that category. Where costs cannot be directly attributed lo particular headings they have been allocated on a basis consislenl with the use of resources, with central staff costs allocated on the basis of lime 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. Charitsble activities Charitable expenditure comprises those costs incurred by the charity in the delivery of ils activities and services for ils beneficiaries. It includes both costs that can be allocated directly lo such activities and those costs of an indirect nature neTrssary to support them. Governance costs These Include the costs attributsble lo the charity's compliance with conslilutional and statutory requirements, including independent examination, strategic management and trustees's meetings and reimbursed expenses. Government grants Govemmenl grants are recognised based on the accrual model and are measured at the fair value of the asset received or reivable. Grants are classified as relating either lo 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 lo an asset is deferred, it Is recognised as deferred income. Page 9
Stoke Youth Musical Theatre Company known as Stoke Youth, SYMTC, SYMTA Notes to the Financial Statements for the Year Ended 31 December 2023 Taxation The charity is considered lo pass the tests set out in Paragraph 1 Schedule 6 of the Finan Act 2010 and therefore il meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempl from laxalion in respect of income or capital gains reiVed 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 lo 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 Inilialty al the transaction price. They are subsequendy 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 lo the original terms of the receivables. Cash and cash equlvalents 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 lo an insignificant risk of change In value. Fund structure Unreslricled income funds are general funds that are available for use al the trustees discretion in furtherance of the objectives of the charity. Page 10
Stoke Youth Musical Theatre Company known as Stoke Youth, SYMTC, SYMTA Notes to the Financial Statements for the Year Ended 31 December 2023 3 Income from donations and legacies Unrestricted funds General Total 2023 Donations and legacies,. Donations from individuals Gift aid reclaimed Theatre Tax Relief 797 4,840 12,992 797 4,840 12,992 18,629 18,629 Unrestricted funds General Restricted funds Total 2022 Donations and legacies., Donations from individuals Gift aid reclaimed Grants, including capital grants., Government grants Grants from other charities Theatre Tax Relief 470 1,355 470 1,355 5,334 5,334 500 3,404 500 3,404 10,563 500 11,063 Page 11
Stoke Youth Musical Theatre Company known as Stoke Youth, SYMTC, SYMTA Notes to the Financial Statements for the Year Ended 31 December 2023 4 Income from charitable activities Unrestricted funds General Total 2023 Premises Hire Show Income Fundraising Membership Workshop Income 6,360 55,270 296 10,362 1,983 6,360 55,270 296 10,362 1,983 74,271 74,271 Unrestricted fund$ General Total 2022 Attendance Fees Premises Hire Show Income Fundraising Membership Other 910 3,855 38,717 101 5,398 380 910 3,855 38,717 101 5,398 380 49,361 49,361 5 Income from other trading activities Unrestricted funds General Total 2023 Local fundraising and street collection income 617 617 617 617 Unrestricted funds General Total 2022 Local fundraising and street collection income 55 55 55 55 Page 12
Stoke Youth Musical Theatre Company known as Stoke Youth, SYMTC, SYMTA Notes to the Financial Statements for the Year Ended 31 December 2023 6 Expenditure on charitable activities Activity undertaken directty 2023 Production costs Workshop costs Premises costs Insurance Subscriptions Sundry expenditure Bank charges Governance Costs 52,593 10,868 27,910 302 2,108 567 153 575 52,593 10,868 27,910 302 2,108 567 153 575 95,076 Activity undertaken directty 95,076 2022 Production costs Workshop costs Premises costs Insurance Subscriptions Sundry expenditure Bank charges Governance Costs 39,802 5,573 25,164 300 552 438 89 550 39,802 5,573 25,164 300 552 438 89 550 72,468 72,468 £95,076 12022 £71,968) of the above expenditu was attribut8ble to unrestricted funds and £Nil 12022 - £5001 to reslrieted funds. Page 13
Stoke Youth Musical Theatre Company known as Stoke Youth, SYMTC, SYMTA Notes to the Financial Statements for the Year Ended 31 December 2023 7 Analysis of governance and support costs Governance costs Unrestricted funds General Total 2023 Independent examiner fees Examination of the financial ststements 575 575 575 575 Unrestricted funds General Total 2022 Independent examiner fees Examination of the financial statements 550 550 550 550 8 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. 9 Taxatlon The charity is a registered charity and is therefore exempl from taxation. Page 14
Stoke Youth Musical Theatre Company known as Stoke Youth, SYMTC, SYMTA Notes to the Financial Statements for the Year Ended 31 December 2023 10 Debtors 2023 2022 Trade debtors PpayMentS Other debtors 1,150 6,505 259 1,028 7,122 7,914 8,284 11 Cash and cash equivalents 2023 2022 Cash at bank 37,882 34,781 12 Creditors: amounts falling due within one year 2023 2022 Other creditors Accruals 460 5,560 500 1,230 6,020 1,730 Page 15
Stoke Youth Musical Theatre Company known as Stoke Youth, SYMTC, SYMTA Notes to the Financial Statements for the Year Ended 31 December 2023 13 Funds Balance at 31 December 2023 Balance at 1 January 2023 Incoming resources Resources expended Unrestrlcted funds General General Funds 41,335 93,517 95,076 39,776 Balance at 31 December 2022 Balance at 1 January 2022 Incoming resources Resources expended Unrestrlcted funds General General Funds 53,324 59,979 171,9681 41,335 Restricted The Community Foundation 500 15001 Total funds 53,324 60,479 72,468 41,335 The specific purposes for which the funds are to be applied are as follows.. £500 was received from the The Community Foundation to purchase Drama Blocks. Page 16
Stoke Youth Musical Theatre Company known as Stoke Youth, SYMTC, SYMTA Notes to the Financial Statements for the Year Ended 31 December 2023 14 Analysis of net assets between funds Total funds at31 December 2023 Unrestricted funds General Current assets Current liabilities 45,796 6,020 45,796 16,020 Total nel assets 39,776 39,776 Total funds at31 December 2022 Unrestricted funds General Current assets Current liabilities 43,065 1,730 43,065 11,730 Total nel assets 41,335 41,335 15 Related party transactions There were no related paty transactions in the year. Page 17