REGISTERED COMPANY NUMBER: 07565394 (England and Wales) REGISTERED CHARITY NUMBER: 1146226
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
FOR
THEATR GWAUN COMMUNITY TRUST (A COMPANY LIMITED BY GUARANTEE)
William Marshall & Co 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 2022
| 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 | 10 |
| Detailed Statement of Financial Activities | 11 | to | 12 |
THEATR GWAUN COMMUNITY TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
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 2022. 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.
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
Trustees
H W Jones Mrs P L Morgan N P Thomas Mrs A J Harding (resigned 4.7.2022) Mrs S Whitbread (resigned 30.9.2021) Ms J M Lane Ms B R Giacci (appointed 20.10.2021) S A Coton (appointed 4.7.2022) P S Howe (resigned 25.1.2022)
Page 1
THEATR GWAUN COMMUNITY TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner
C W F Marshall William Marshall & Co 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 28 December 2022 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 2022.
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
-
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 William Marshall & Co Financial Accountants Park View House Ropewalk Fishguard Pembrokeshire SA65 9BT
28 December 2022
Page 3
THEATR GWAUN COMMUNITY TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
| 2022 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 25,049 Other trading activities 3 56,030 Other income 8,486 Total 89,565 EXPENDITURE ON Raising funds 4 117,480 Other 3,631 Total 121,111 NET INCOME/(EXPENDITURE) (31,546) RECONCILIATION OF FUNDS Total funds brought forward 71,231 TOTAL FUNDS CARRIED FORWARD 39,685 |
2021 Total funds £ 56,079 5,448 41,682 |
|---|---|
| 103,209 | |
| 77,529 8,813 |
|
| 86,342 | |
| 16,867 54,364 |
|
| 71,231 |
The notes form part of these financial statements
Page 4
THEATR GWAUN COMMUNITY TRUST
STATEMENT OF FINANCIAL POSITION 31 MARCH 2022
| 2022 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 9 10,489 CURRENT ASSETS Debtors 10 8,694 Cash at bank and in hand 35,384 44,078 CREDITORS Amounts falling due within one year 11 (14,882) NET CURRENT ASSETS 29,196 TOTAL ASSETS LESS CURRENT LIABILITIES 39,685 NET ASSETS 39,685 FUNDS Unrestricted funds 39,685 TOTAL FUNDS 39,685 |
2021 Total funds £ 13,471 4,891 61,892 66,783 (9,023) 57,760 71,231 71,231 71,231 71,231 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 2022
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 28 December 2022 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 2022
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.
2. DONATIONS AND LEGACIES
| Donations Grants Grants received, included in the above, are as follows: Other grants |
2022 £ 7,223 17,826 25,049 2022 £ 17,826 |
2021 £ 7,690 48,389 |
|---|---|---|
| 56,079 | ||
| 2021 £ 48,389 |
continued...
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THEATR GWAUN COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
3. OTHER TRADING ACTIVITIES
| 2022 £ Fundraising events 7,196 Films 25,945 Satellite screenings 3,693 Live performances 11,199 Booking receipts 1,157 Advertising 1,701 Membership fees 3,859 Hire of Theatr 1,280 56,030 RAISING FUNDS Raising donations and legacies 2022 £ Support costs 52,568 Other trading activities 2022 £ Staff costs 3,976 Film rental & transport 16,798 Performance fees 15,931 Technical fees 6,006 Booking services & ticketing system 3,448 Support costs 299 46,458 Investment management costs 2022 £ Property repairs 18,139 Consultancy fees 315 18,454 Aggregate amounts 117,480 |
2021 £ - 219 233 - 27 - 4,619 350 |
|---|---|
| 5,448 | |
| 2021 £ 56,345 |
|
| 2021 £ 12,876 214 - - 1,486 - |
|
| 14,576 | |
| 2021 £ 1,558 5,050 |
|
| 6,608 | |
| 77,529 |
4. RAISING FUNDS
continued...
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THEATR GWAUN COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
5. SUPPORT COSTS
| Management Finance £ £ Raising donations and legacies - 962 Other trading activities 2,150 - 2,150 962 NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
Governance Other costs £ £ 46,538 5,068 299 (2,150) 46,837 2,918 2022 £ 3,631 |
Totals £ 52,568 299 |
|---|---|---|
| 52,867 | ||
| 2021 £ 4,242 |
6. NET INCOME/(EXPENDITURE)
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.
8. STAFF COSTS
| Wages and salaries Other pension costs The average monthly number of employees during the year was as follows: Cinema and support staff |
2022 £ 29,524 394 29,918 2022 4 |
2021 £ 44,405 421 |
|---|---|---|
| 44,826 | ||
| 2021 3 |
No employees received emoluments in excess of £60,000.
continued...
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THEATR GWAUN COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
9. TANGIBLE FIXED ASSETS
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.
10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade debtors Friends of Theatr Gwaun CIC VAT Prepayments CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other loans (see note 12) Trade creditors Other creditors |
|
|---|---|
11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
12. LOANS
An analysis of the maturity of loans is given below:
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Amounts falling due within one year on demand: | ||
| Other loans | 5,000 | 5,000 |
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2022.
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THEATR GWAUN COMMUNITY TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
| INCOME AND ENDOWMENTS Donations and legacies Donations Grants Other trading activities Fundraising events Films Satellite screenings Live performances Booking receipts Advertising Membership fees Hire of Theatr Other income Government grants Total incoming resources EXPENDITURE Other trading activities Management wages Film rental & transport Performance fees Technical fees Booking services & ticketing system Investment management costs Property repairs Consultancy fees Other Plant and machinery Computer equipment |
2022 £ 7,223 17,826 25,049 7,196 25,945 3,693 11,199 1,157 1,701 3,859 1,280 56,030 8,486 89,565 3,976 16,798 15,931 6,006 3,448 46,159 18,139 315 18,454 2,451 1,180 3,631 |
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 |
This page does not form part of the statutory financial statements
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THEATR GWAUN COMMUNITY TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
| Support costs Management Administration support Finance Bank charges 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 Licences & subscriptions Advertising Property maintenance Staff training Equipment repairs & renewals Equipment support services Governance costs Accountancy Book-keeping Legal fees Total resources expended Net (expenditure)/income |
2022 £ 2,150 49 913 962 - 25,548 394 923 2,519 4,122 1,678 148 1,374 7,056 - 604 1,166 1,305 46,837 1,063 1,855 - 2,918 121,111 (31,546) |
2021 £ 2,610 - 556 |
|---|---|---|
| 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 |
This page does not form part of the statutory financial statements
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