REGISTERED COMPANY NUMBER: 07565394 (England and Wales) REGISTERED CHARITY NUMBER: 1146226
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
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 2023
| 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 | 12 |
| Detailed Statement of Financial Activities | 13 | to | 14 |
THEATR GWAUN COMMUNITY TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
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 2023. 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 Dr N P Thomas Mrs A J Harding (resigned 4.7.2022) Ms J M Lane (resigned 27.2.2023) Ms B R Giacci S A Coton (appointed 4.7.2022)
Page 1
THEATR GWAUN COMMUNITY TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
C W F Marshall FFA 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 29 December 2023 and signed on its behalf by:
Dr 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 2023.
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 FFA The Institute of Financial Accountants
William Marshall & Co Financial Accountants Park View House Ropewalk Fishguard Pembrokeshire SA65 9BT
29 December 2023
Page 3
THEATR GWAUN COMMUNITY TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 58,448 Other trading activities 3 102,497 Other income 1,154 Total 162,099 EXPENDITURE ON Raising funds 4 160,522 Charitable activities 5 Abigail's fund awards - Other 4,274 Total 164,796 NET INCOME/(EXPENDITURE) (2,697) RECONCILIATION OF FUNDS Total funds brought forward 39,685 TOTAL FUNDS CARRIED FORWARD 36,988 |
Restricted fund £ 10,000 - - 10,000 - 1,000 - 1,000 9,000 - 9,000 |
2023 Total funds £ 68,448 102,497 1,154 172,099 160,522 1,000 4,274 165,796 6,303 39,685 45,988 |
2022 Total funds £ 25,049 56,030 8,486 89,565 117,480 - 3,631 121,111 (31,546) 71,231 39,685 |
|---|---|---|---|
The notes form part of these financial statements
Page 4
THEATR GWAUN COMMUNITY TRUST
STATEMENT OF FINANCIAL POSITION 31 MARCH 2023
| Unrestricted Restricted fund fund Notes £ £ FIXED ASSETS Tangible assets 11 9,259 - CURRENT ASSETS Debtors 12 1,770 - Cash at bank and in hand 32,644 9,000 34,414 9,000 CREDITORS Amounts falling due within one year 13 (6,685) - NET CURRENT ASSETS 27,729 9,000 TOTAL ASSETS LESS CURRENT LIABILITIES 36,988 9,000 NET ASSETS 36,988 9,000 FUNDS 15 Unrestricted funds Restricted funds TOTAL FUNDS |
2023 Total funds £ 9,259 1,770 41,644 43,414 (6,685) 36,729 45,988 45,988 36,988 9,000 45,988 |
2022 Total funds £ 10,489 8,694 35,384 44,078 (14,882) 29,196 39,685 39,685 39,685 - 39,685 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 2023
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 29 December 2023 and were signed on its behalf by:
Dr N P Thomas - Trustee
P L Morgan - Trustee
H W Jones - Trustee
B R Giacci - Trustee
S A Coton - 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 2023
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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
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.
2. DONATIONS AND LEGACIES
| Gifts Donations Grants Grants received, included in the above, are as follows: Other grants |
2023 £ 10,000 22,044 36,404 68,448 2023 £ 36,404 |
2022 £ - 7,223 17,826 |
|---|---|---|
| 25,049 | ||
| 2022 £ 17,826 |
continued...
Page 7
THEATR GWAUN COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
3. OTHER TRADING ACTIVITIES
| Fundraising events Films Satellite screenings Live performances Booking receipts Advertising Membership fees Hire of Theatr RAISING FUNDS Raising donations and legacies Support costs Other trading activities Staff costs Film rental & transport Performance fees Management fees Technical fees Booking services & ticketing system Support costs Investment management costs Property repairs Consultancy fees Aggregate amounts |
2023 £ 2,087 51,867 8,912 22,185 1,754 2,781 6,306 6,605 102,497 2023 £ 43,321 2023 £ 21,756 30,369 24,837 1,970 6,000 4,961 26,018 115,911 2023 £ 1,290 - 1,290 160,522 |
2022 £ 7,196 25,945 3,693 11,199 1,157 1,701 3,859 1,280 |
|
|---|---|---|---|
| 56,030 | |||
| 2022 £ 52,568 |
|||
| 2022 £ 3,976 16,798 15,931 - 6,006 3,448 299 |
|||
| 46,458 | |||
| 2022 £ 18,139 315 18,454 117,480 |
2022 £ 18,139 315 |
||
| 18,454 |
4. RAISING FUNDS
continued...
Page 8
THEATR GWAUN COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
5. CHARITABLE ACTIVITIES COSTS
| 5. | CHARITABLE ACTIVITIES COSTS | |||||
|---|---|---|---|---|---|---|
| Grant | ||||||
| funding of | ||||||
| activities | ||||||
| (see note | ||||||
| 6) | ||||||
| £ | ||||||
| Abigail's fund awards | 1,000 | |||||
| 6. | GRANTS PAYABLE | |||||
| 2023 | 2022 | |||||
| £ | £ | |||||
| Abigail's fund awards | 1,000 | - | ||||
| 7. | SUPPORT COSTS | |||||
| Information | ||||||
| Management | Finance | technology | ||||
| £ | £ | £ | ||||
| Raising donations and legacies | - | 1,920 | - | |||
| Other trading activities | 163 | - | 54 | |||
| Other resources expended | - | - | - | |||
| 163 | 1,920 | 54 | ||||
| Governance | ||||||
| Other | costs | Totals | ||||
| £ | £ | £ | ||||
| Raising donations and legacies | 41,401 | - | 43,321 | |||
| Other trading activities | 21,014 | 4,787 | 26,018 | |||
| Other resources expended | 1,884 | - | 1,884 | |||
| 64,299 | 4,787 | 71,223 | ||||
| 8. | NET INCOME/(EXPENDITURE) | |||||
| Net income/(expenditure) is stated after charging/(crediting): | ||||||
| 2023 | 2022 | |||||
| £ | £ | |||||
| Depreciation - owned assets | 6,283 | 3,631 | ||||
| Other operating leases | 834 | - |
continued...
Page 9
THEATR GWAUN COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
9. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
10. STAFF COSTS
| Wages and salaries Other pension costs The average monthly number of employees during the year was as follows: Cinema and support staff |
2023 £ 57,964 500 58,464 2023 8 |
2022 £ 29,524 394 |
|---|---|---|
| 29,918 | ||
| 2022 4 |
No employees received emoluments in excess of £60,000.
11. 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.
12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade debtors Friends of Theatr Gwaun CIC VAT Prepayments |
2023 £ 600 1,020 - 150 1,770 |
2022 £ 171 7,621 752 150 |
|---|---|---|
| 8,694 |
continued...
Page 10
THEATR GWAUN COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other loans (see note 14) Trade creditors VAT Other creditors 14. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Other loans 15. MOVEMENT IN FUNDS Unrestricted funds General fund Restricted funds Abigail's Arts Award Fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Abigail's Arts Award Fund TOTAL FUNDS |
At 1.4.22 £ 39,685 - 39,685 Incoming resources £ 162,099 10,000 172,099 |
2023 2022 £ £ - 5,000 1,938 1,860 26 - 4,721 8,022 6,685 14,882 2023 2022 £ £ - 5,000 Net movement At in funds 31.3.23 £ £ (2,697) 36,988 9,000 9,000 6,303 45,988 Resources Movement expended in funds £ £ (164,796) (2,697) (1,000) 9,000 (165,796) 6,303 |
|---|---|---|
continued...
Page 11
THEATR GWAUN COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
15. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.4.21 £ Unrestricted funds General fund 71,231 TOTAL FUNDS 71,231 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 89,565 TOTAL FUNDS 89,565 |
Net movement At in funds 31.3.22 £ £ (31,546) 39,685 (31,546) 39,685 Resources Movement expended in funds £ £ (121,111) (31,546) (121,111) (31,546) |
|---|---|
16. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2023.
Page 12
THEATR GWAUN COMMUNITY TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| INCOME AND ENDOWMENTS Donations and legacies Gifts 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 Management fees Technical fees Booking services & ticketing system Investment management costs Property repairs Consultancy fees Charitable activities Grants to individuals |
2023 £ 10,000 22,044 36,404 68,448 2,087 51,867 8,912 22,185 1,754 2,781 6,306 6,605 102,497 1,154 172,099 21,756 30,369 24,837 1,970 6,000 4,961 89,893 1,290 - 1,290 1,000 |
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 - |
This page does not form part of the statutory financial statements
Page 13
THEATR GWAUN COMMUNITY TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| Charitable activities Other Plant and machinery Computer equipment Support costs Management Administration support Finance Bank charges Credit card charges Information technology IT Software & consumables Other Wages Pension contributions Hire of premises Rates and water Insurance Light and heat Telephone & internet Printing, postage and stationery Licences & subscriptions Advertising Staff training Equipment repairs & renewals Equipment support services Donations Governance costs Accountancy Book-keeping Total resources expended Net income/(expenditure) |
2023 £ 1,977 413 2,390 163 242 1,678 1,920 54 36,208 500 834 981 2,878 5,267 1,678 304 1,812 9,055 305 1,885 708 1,884 64,299 1,275 3,512 4,787 165,796 6,303 |
2022 £ 2,451 1,180 3,631 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) |
|---|---|---|
This page does not form part of the statutory financial statements
Page 14