REGISTERED COMPANY NUMBER: 07565394 (England and Wales) REGISTERED CHARITY NUMBER: 1146226
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
FOR
THEATR GWAUN COMMUNITY TRUST (A COMPANY LIMITED BY GUARANTEE)
William Marshall & Co Incorporated Financial Accountants Park View House Ropewalk Fishguard Pembrokeshire SA65 9BT
THEATR GWAUN COMMUNITY TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Statement of Financial Position | 5 | to | 6 |
| Notes to the Financial Statements | 7 | to | 13 |
| Detailed Statement of Financial Activities | 14 | to | 15 |
THEATR GWAUN COMMUNITY TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
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 March 2021. The trustees have adopted the provisions of 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).
OBJECTIVES AND ACTIVITIES Objectives and aims
The objects of the charity are:
The advancement of public education in the arts. including drama, theatre, music, dance and film;
The promotion of the arts and in particular but not exclusively the art of film;
To promote for the benefit of the inhabitants of Fishguard, Pembrokeshire and the surrounding area the provision of facilities for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving the condition of life of the said inhabitants.
Significant activities
The Trust operated Theatr Gwaun, Fishguard, in accordance with the objects of the Trust under a lease from Pembrokeshire County Council until 17 December 2018. The theatre land and buildings were transferred to the Trust on that date by the Council by means of a formal Community Asset Transfer. No costs were incurred by the Trust in relation to the transfer. A valuation of the land and buildings was not available at the time of this report.
Volunteers
The trust operates with the assistance of a team of volunteers.and the support of its associate company, The Friends of Theatr Gwaun CIC.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
07565394 (England and Wales)
Registered Charity number
1146226
Registered office
Theatr Gwaun West Street Fishguard Pembrokeshire SA65 9AD
Page 1
THEATR GWAUN COMMUNITY TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
Trustees
H W Jones Mrs P L Morgan N P Thomas Dr M Stringer (resigned 18.3.2021) P S Howe Mrs A J Harding Mrs S Whitbread (resigned 30.9.2021) S P Williams (resigned 21.7.2020) Ms J M Lane (appointed 1.4.2020)
Independent Examiner
C W F Marshall Fellow, Institute of Financial Accountants William Marshall & Co Incorporated Financial Accountants Park View House Ropewalk Fishguard Pembrokeshire SA65 9BT
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 30 November 2021 and signed on its behalf by:
N P Thomas - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THEATR GWAUN COMMUNITY TRUST
Independent examiner's report to the trustees of Theatr Gwaun Community Trust ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.
Responsibilities and basis of report
As the charity's trustees of the 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 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
-
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
-
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.
C W F Marshall Fellow, Institute of Financial Accountants William Marshall & Co Incorporated Financial Accountants Park View House Ropewalk Fishguard Pembrokeshire SA65 9BT
30 November 2021
Page 3
THEATR GWAUN COMMUNITY TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
| 2021 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 56,079 Other trading activities 3 5,448 Other income 41,682 Total 103,209 EXPENDITURE ON Raising funds 4 77,529 Other 8,813 Total 86,342 NET INCOME/(EXPENDITURE) 16,867 RECONCILIATION OF FUNDS Total funds brought forward 54,364 TOTAL FUNDS CARRIED FORWARD 71,231 |
2020 Total funds £ 43,197 103,495 - 146,692 146,230 5,178 151,408 (4,716) 59,080 54,364 |
|---|---|
The notes form part of these financial statements
Page 4
THEATR GWAUN COMMUNITY TRUST
STATEMENT OF FINANCIAL POSITION 31 MARCH 2021
| 2021 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 9 13,471 CURRENT ASSETS Debtors 10 4,891 Cash at bank and in hand 61,892 66,783 CREDITORS Amounts falling due within one year 11 (9,023) NET CURRENT ASSETS 57,760 TOTAL ASSETS LESS CURRENT LIABILITIES 71,231 NET ASSETS 71,231 FUNDS 13 Unrestricted funds 71,231 TOTAL FUNDS 71,231 |
2020 Total funds £ 16,983 12,517 37,738 50,255 (12,874) 37,381 54,364 54,364 54,364 54,364 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 Sections 386 and 387 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 Sections 394 and 395 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 notes form part of these financial statements
Page 5
continued...
THEATR GWAUN COMMUNITY TRUST
STATEMENT OF FINANCIAL POSITION - continued 31 MARCH 2021
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 30 November 2021 and were signed on its behalf by:
N P Thomas - Trustee
P L Morgan - Trustee
H W Jones - Trustee
The notes form part of these financial statements
Page 6
THEATR GWAUN COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance Computer equipment - 33% on 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 funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
Page 7
THEATR GWAUN COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
2. DONATIONS AND LEGACIES
| Donations Grants Grants received, included in the above, are as follows: Other grants 3. OTHER TRADING ACTIVITIES Films Satellite screenings Live performances Booking receipts Suppers Advertising Membership fees Hire of Theatr 4. RAISING FUNDS Raising donations and legacies Support costs Other trading activities Staff costs Film rental & transport Performance fees Booking services & ticketing system Supper expenses Support costs |
2021 £ 7,690 48,389 56,079 2021 £ 48,389 2021 £ 219 233 - 27 - - 4,619 350 5,448 2021 £ 56,345 2021 £ 12,876 214 - 1,486 - - 14,576 |
2020 £ 15,443 27,754 |
||
|---|---|---|---|---|
| 43,197 | ||||
| 2020 £ 27,754 |
||||
| 2020 £ 62,619 15,344 7,703 1,567 1,547 3,524 4,991 6,200 |
||||
| 103,495 | ||||
| 2020 £ - |
||||
| 2020 £ 17,754 40,260 1,808 4,665 1,445 69,562 |
||||
| 135,494 |
continued...
Page 8
THEATR GWAUN COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
4. RAISING FUNDS - continued
Investment management costs
| Investment management costs | ||
|---|---|---|
| Property repairs Consultancy fees Aggregate amounts |
2021 2020 £ £ 1,558 10,736 5,050 - 6,608 10,736 77,529 146,230 |
2020 £ 10,736 - |
| 10,736 |
5. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 4,242 | 4,863 |
| Deficit on disposal of fixed assets | - | 314 |
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.
7. STAFF COSTS
The average monthly number of employees during the year was as follows:
| 2021 | 2020 | |
|---|---|---|
| Cinema and support staff | 3 | 5 |
No employees received emoluments in excess of £60,000.
continued...
Page 9
THEATR GWAUN COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |||||
|---|---|---|---|---|---|
| fund | |||||
| £ | |||||
| INCOME AND ENDOWMENTS FROM | |||||
| Donations and legacies | 43,197 | ||||
| Other trading activities | 103,495 | ||||
| Total | 146,692 | ||||
| EXPENDITURE ON | |||||
| Raising funds | 146,230 | ||||
| Other | 5,178 | ||||
| Total | 151,408 | ||||
| NET INCOME/(EXPENDITURE) | (4,716) | ||||
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 59,080 | ||||
| TOTAL FUNDS CARRIED FORWARD | 54,364 | ||||
| 9. | TANGIBLE FIXED ASSETS | ||||
| Plant and | Computer | ||||
| machinery | equipment | Totals | |||
| £ | £ | £ | |||
| COST | |||||
| At 1 April 2020 | 66,007 | 4,090 | 70,097 | ||
| Additions | 730 | - | 730 | ||
| At 31 March 2021 | 66,737 | 4,090 | 70,827 | ||
| DEPRECIATION | |||||
| At 1 April 2020 | 51,688 | 1,426 | 53,114 | ||
| Charge for year | 2,955 | 1,287 | 4,242 | ||
| At 31 March 2021 | 54,643 | 2,713 | 57,356 | ||
| NET BOOK VALUE | |||||
| At 31 March 2021 | 12,094 | 1,377 | 13,471 | ||
| At 31 March 2020 | 14,319 | 2,664 | 16,983 |
continued...
Page 10
THEATR GWAUN COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
| 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Friends of Theatr Gwaun CIC VAT Prepayments 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other loans (see note 12) Trade creditors Other creditors 12. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Other loans 13. MOVEMENT IN FUNDS At 1.4.20 £ Unrestricted funds General fund 54,364 TOTAL FUNDS 54,364 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 103,209 TOTAL FUNDS 103,209 |
2021 2020 £ £ - 1,112 3,386 7,745 522 603 983 3,057 4,891 12,517 2021 2020 £ £ 5,000 5,000 692 2,690 3,331 5,184 9,023 12,874 2021 2020 £ £ 5,000 5,000 Net movement At in funds 31.3.21 £ £ 16,867 71,231 16,867 71,231 Resources Movement expended in funds £ £ (86,342) 16,867 (86,342) 16,867 |
|---|---|
continued...
Page 11
THEATR GWAUN COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
13. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.4.19 | in funds | 31.3.20 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 59,080 | (4,716) | 54,364 |
| TOTAL FUNDS | 59,080 | (4,716) | 54,364 |
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 146,692 146,692 |
Resources Movement expended in funds £ £ (151,408) (4,716) (151,408) (4,716) |
Resources Movement expended in funds £ £ (151,408) (4,716) (151,408) (4,716) |
|---|---|---|---|
| (4,716) |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.4.19 | in funds | 31.3.21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 59,080 | 12,151 | 71,231 |
| TOTAL FUNDS | 59,080 | 12,151 | 71,231 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 249,901 249,901 |
Resources Movement expended in funds £ £ (237,750) 12,151 (237,750) 12,151 |
Resources Movement expended in funds £ £ (237,750) 12,151 (237,750) 12,151 |
|---|---|---|---|
| 12,151 |
continued...
Page 12
THEATR GWAUN COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
14. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2021.
Page 13
THEATR GWAUN COMMUNITY TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
| INCOME AND ENDOWMENTS Donations and legacies Donations Grants Other trading activities Films Satellite screenings Live performances Booking receipts Suppers Advertising Membership fees Hire of Theatr Other income Government grants Total incoming resources EXPENDITURE Other trading activities Management wages Film rental & transport Performance fees Booking services & ticketing system Supper expenses Investment management costs Property repairs Consultancy fees Other Plant and machinery Computer equipment Carried forward |
2021 £ 7,690 48,389 56,079 219 233 - 27 - - 4,619 350 5,448 41,682 103,209 12,876 214 - 1,486 - 14,576 1,558 5,050 6,608 2,955 1,287 4,242 |
2020 £ 15,443 27,754 |
|---|---|---|
| 43,197 62,619 15,344 7,703 1,567 1,547 3,524 4,991 6,200 |
||
| 103,495 - |
||
| 146,692 17,754 40,260 1,808 4,665 1,445 |
||
| 65,932 10,736 - |
||
| 10,736 3,580 1,284 4,864 |
This page does not form part of the statutory financial statements
Page 14
THEATR GWAUN COMMUNITY TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
| Other Brought forward Loss on sale of tangible fixed assets Support costs Management Administration support Finance Credit card charges Information technology IT Software & consumables Other Wages Pension contributions Rates and water Insurance Light and heat Telephone & internet Printing, postage and stationery Sundries Licences & subscriptions Advertising Property maintenance Staff training Equipment repairs & renewals Equipment support services Governance costs Accountancy Book-keeping Legal fees Total resources expended Net income/(expenditure) |
2021 £ 4,242 - 4,242 2,610 556 61 31,529 421 597 3,254 2,673 1,552 79 - 1,196 2,868 2,028 49 6,229 2,543 55,018 1,063 1,108 500 2,671 86,342 16,867 |
2020 £ 4,864 314 5,178 3,052 1,442 312 32,356 495 863 5,915 7,030 2,434 1,109 734 1,160 2,914 - 488 5,763 - 61,261 1,208 1,512 775 3,495 151,408 (4,716) |
|---|---|---|
This page does not form part of the statutory financial statements
Page 15