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← Theatr Gwaun Community Trust

2024-03-31-accounts

REGISTERED COMPANY NUMBER: 07565394 (England and Wales) REGISTERED CHARITY NUMBER: 1146226

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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 2024

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 2024

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 2024. 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 (resigned 31.10.2024) Mrs P L Morgan Retired Dr N P Thomas Retired Professor Ms B R Giacci Retired Civil Servant S A Coton Information Systems Consultant M Ponsford (appointed 28.10.2024)

Page 1

THEATR GWAUN COMMUNITY TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

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 27 December 2024 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 2024.

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:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

  2. 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

  3. 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

27 December 2024

Page 3

THEATR GWAUN COMMUNITY TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
87,864
Other trading activities
3
112,995
Other income
1,704
Total
202,563
EXPENDITURE ON
Raising funds
4
104,222
Charitable activities
5
Abigail's fund awards
-
Other
87,650
Total
191,872
NET INCOME/(EXPENDITURE)
10,691
RECONCILIATION OF FUNDS
Total funds brought forward
As previously reported
36,988
Prior year adjustment
11
12,456
As restated
49,444
TOTAL FUNDS CARRIED FORWARD
60,135		 Restricted
fund
£
-
-
-
-
-
1,250
-
1,250
(1,250)
9,000
-
9,000
7,750		 2024
Total
funds
as
£
87,864
112,995
1,704
202,563
104,222
1,250
87,650
193,122
9,441
45,988
12,456
58,444
67,885		 2023
Total
funds
restated
£
68,448
102,497
1,154
172,099
148,066
1,000
4,274
153,340
18,759
39,685
-
39,685
58,444

The notes form part of these financial statements

Page 4

THEATR GWAUN COMMUNITY TRUST

STATEMENT OF FINANCIAL POSITION 31 MARCH 2024

Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
12
37,687
CURRENT ASSETS
Debtors
13
12,807
Cash at bank and in hand
24,226
37,033
CREDITORS
Amounts falling due within one year
14
(14,585)
NET CURRENT ASSETS
22,448
TOTAL ASSETS LESS CURRENT
LIABILITIES
60,135
NET ASSETS
60,135
FUNDS
15
Unrestricted funds:
General fund
Restricted funds:
Abigail's Arts Award Fund
TOTAL FUNDS		 Restricted
fund
£
-
-
7,750
7,750
-
7,750
7,750
7,750		 2024
Total
funds
as
£
37,687
12,807
31,976
44,783
(14,585)
30,198
67,885
67,885
60,135
7,750
67,885		 2023
Total
funds
restated
£
21,715
1,770
41,644
43,414
(6,685)
36,729
58,444
58,444
49,444
9,000
58,444

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

Page 5

continued...

THEATR GWAUN COMMUNITY TRUST

STATEMENT OF FINANCIAL POSITION - continued 31 MARCH 2024

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 27 December 2024 and were signed on its behalf by:

Dr N P Thomas - Trustee

P L Morgan - 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 2024

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		 2024
as
£
-
27,626
60,238
87,864		 2023
restated
£
10,000
22,044
36,404
68,448

continued...

Page 7

THEATR GWAUN COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

2. DONATIONS AND LEGACIES - continued

Grants received, included in the above, are as follows:

Other grants
3.
OTHER TRADING ACTIVITIES
Fundraising events
Social lotteries
Films
Satellite screenings
Live performances
Booking receipts
Advertising
Membership fees
Hire of Theatr
Support services
4.
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
Depreciation
Support costs

continued...

Page 8

THEATR GWAUN COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

4. RAISING FUNDS - continued

Investment management costs
Property repairs
Aggregate amounts
5.
CHARITABLE ACTIVITIES COSTS
Abigail's fund awards
6.
GRANTS PAYABLE
Abigail's fund awards
7.
SUPPORT COSTS
Information
Finance
technology
£
£
Other resources expended
2,247
1,104
8.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets
Other operating leases		 2024
2023
as restated
£
£
8,109
(15,700)
104,222
148,066
Grant
funding of
activities
(see note
6)
£
1,250
2024
2023
as restated
£
£
1,250
1,000
Governance
Other
costs
Totals
£
£
£
75,196
4,754
83,301
2024
2023
as restated
£
£
4,350
10,817
1,026
834

continued...

Page 9

THEATR GWAUN COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.

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		 2024
as
£
63,833
738
64,571
2024
as
10		 2023
restated
£
57,964
500
58,464
2023
restated
8

No employees received emoluments in excess of £60,000.

11. PRIOR YEAR ADJUSTMENT

The original solar panel installation in 2022 has been reclassified from revenue expenditure to a fixed asset.[Net adjustment £16,999 less depreciation £4,534 = £12,455]

12. 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.

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
Other debtors
Friends of Theatr Gwaun CIC
Prepayments		 2024
as
£
1,721
3,783
7,303
-
12,807		 2023
restated
£
600
-
1,020
150
1,770

continued...

Page 10

THEATR GWAUN COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
VAT
Other creditors		 2024
as
£
6,958
77
7,550
14,585		 2023
restated
£
1,938
26
4,721
6,685

15. MOVEMENT IN FUNDS

Prior
year
At 1.4.23
adjustment
£
£
Unrestricted funds
General fund
36,988
12,456
Restricted funds
Abigail's Arts Award Fund
9,000
-
TOTAL FUNDS
45,988
12,456
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
202,563
Restricted funds
Abigail's Arts Award Fund
-
TOTAL FUNDS
202,563		 Net
movement
At
in funds
31.3.24
£
£
10,691
60,135
(1,250)
7,750
9,441
67,885
Resources
Movement
expended
in funds
£
£
(191,872)
10,691
(1,250)
(1,250)
(193,122)
9,441		 Net
movement
At
in funds
31.3.24
£
£
10,691
60,135
(1,250)
7,750
9,441
67,885
Resources
Movement
expended
in funds
£
£
(191,872)
10,691
(1,250)
(1,250)
(193,122)
9,441
9,441

continued...

Page 11

THEATR GWAUN COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

15. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1.4.22
£
Unrestricted funds
General fund
39,685
Restricted funds
Abigail's Arts Award Fund
-
TOTAL FUNDS
39,685
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
162,099
Restricted funds
Abigail's Arts Award Fund
10,000
TOTAL FUNDS
172,099		 Net
movement
At
in funds
31.3.23
£
£
9,759
49,444
9,000
9,000
18,759
58,444
Resources
Movement
expended
in funds
£
£
(152,340)
9,759
(1,000)
9,000
(153,340)
18,759		 Net
movement
At
in funds
31.3.23
£
£
9,759
49,444
9,000
9,000
18,759
58,444
Resources
Movement
expended
in funds
£
£
(152,340)
9,759
(1,000)
9,000
(153,340)
18,759
18,759

16. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2024.

Page 12

THEATR GWAUN COMMUNITY TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

INCOME AND ENDOWMENTS
Donations and legacies
Gifts
Donations
Grants
Other trading activities
Fundraising events
Social lotteries
Films
Satellite screenings
Live performances
Booking receipts
Advertising
Membership fees
Hire of Theatr
Support services
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
Plant and machinery
Investment management costs
Property repairs
Charitable activities
Grants to individuals		 2024
a
£
-
27,626
60,238
87,864
1,175
705
54,915
9,420
27,879
2,274
1,954
5,289
4,483
4,901
112,995
1,704
202,563
25,480
30,610
26,359
2,042
5,000
6,622
-
96,113
8,109
1,250		 2023
s restated
£
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
4,534
94,427
(15,700)
1,000

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 2024

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
Sundries
Licences & subscriptions
Travelling
Advertising
Staff training
Equipment repairs & renewals
Equipment support services
Donations
Governance costs
Accountancy
Book-keeping
Total resources expended
Net income		 2024
a
£
4,133
216
4,349
-
242
2,005
2,247
1,104
38,353
738
1,026
1,079
3,247
7,111
1,678
742
294
4,510
439
9,969
626
3,247
1,158
979
75,196
988
3,766
4,754
193,122
9,441		 2023
s restated
£
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
153,340
18,759

This page does not form part of the statutory financial statements

Page 14