2021-03-31-accounts - Shanklin Theatre And Community Trust

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REGISTERED COMPANY NUMBER: 07450494 (England and Wales)
REGISTERED CHARITY NUMBER: 1146834

`REPORT OF THE TRUSTEES AND`

`UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021`

`FOR`

`SHANKLIN THEATRE AND COMMUNITY TRUST`

Bright Brown Limited
Chartered Accountants
Exchange House
St. Cross Lane
Newport
Isle of Wight
PO30 5BZ

SHANKLIN THEATRE AND COMMUNITY TRUST

`CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021`

	`Page`
`Report of the Trustees`	`1 to 8`
`Independent Examiner's Report`	`9 to 10`
`Statement of Financial Activities`	`11`
`Balance Sheet`	`12 to 13`
`Notes to the Financial Statements`	`14 to 22`
`Detailed Statement of Financial Activities`	`23 to 24`

SHANKLIN THEATRE AND COMMUNITY TRUST

`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021`

ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct 2006,
presenttheirreportwiththefinancialstatementsofthecharityfortheyear ended
31March2021.ThetrusteeshaveadoptedtheprovisionsofAccountingandReporting by
Charities:Statementof RecommendedPracticeapplicableto charitiespreparingtheiraccounts in
accordancewiththeFinancialReportingStandardapplicableintheUKandRepublicof Ireland
(FRS 102) (effective 1 January 2019).

`OBJECTIVES AND ACTIVITIES`

`Objectives and aims`

ShanklinTheatreandCommunityTrust(theTrust)isaCompanyLimitedbyGuaranteeand a
RegisteredCharity.TheTrustownsthefreeholdtoShanklinTheatreandisresponsiblefor its
preservation.TheTrusthasthreesubsidiarybodies,ShanklinTheatreLimited(theTheatre), the
FriendsofShanklinTheatre(FOST)andShanklinPerformingArtsCentreCIC(SPAC).The Theatre
operatestheTheatreonadaytodaybasis,andputsonafullprogrammeofboth professional
shows and Communityproductions;FOST facilitatesmemberof the Communityengagingwith the
Theatre,anditsteamofvolunteersallowstheTheatretooperateasaviableentity;and SPAC
managestheday-to-dayrunningoftheOldLibraryBuildingwhichnowactsasaperforming arts
centre.

Page 1

SHANKLIN THEATRE AND COMMUNITY TRUST

`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021`

`OBJECTIVES AND ACTIVITIES`

`Review of activities`

Likevirtuallyallperformingartsorganisationsin theUK,theoperationsoftheTrustand Shanklin
TheatrehavebeenimpacteddramaticallybytheCovid-19epidemic.Atthestartofthe first
lockdownthe TheatreBoardwas very concernedat the disruptionand associatedcost involved in
cancellingproductionsandhardchoicesaboutwhethertheoperationwasfinancially viable
withoutlayingoffstaff.However,withthefurloughscheme,andArtsCounciland other
GovernmentgrantsreceivedthroughtheLocalAuthority,theorganisationweatheredthe storm
withoutlayingoffstafforhavingtotakeonloanstofacilitateongoingoperations.During the
lockdown,theTheatrewasmanagedbyasmallgroupofdedicatedvolunteers,towhom the
Trustees are very grateful.

The Trust also holds a 40-yearlease from the Isle of Wight Councilon the buildingformerly known
asShanklinCommunityLibrary;theTownLibraryhasnowrelocatedandtheTrustoperates the
buildingasaCommunityPerformingArtsCentrethroughaCommunityInterestCompany known
as Shanklin Performing Arts Centre CIC.

Thepublictoiletsadjacentto the'SpaSite'car parkon ShanklinEsplanadewereheldby the Trust
undera 'Licenseto Occupy'grantedby the Isle of WightCouncil;this has now beenterminated by
the Trust, which has no ongoing responsibilities or liabilities for the site.

TheTrustretainstheleasefortheShanklinCommunityLibrarybuilding,andhasagreed to
purchasethebuildingwithaviewtoundertakingamajorredevelopmenttocreatea bespoke
PerformingArtsCentre,subjecttoraisingtherequiredfunds.Todate,thebuildinghashad the
obsoletegasheatersremovedandhigh-levelelectricfanheatersinstalled,theelectrical system
hasbeenupgraded,includingreplacingoldfluorescentlightingwithLEDlightingtubes,a new
intruderalarmsysteminstalled,alongwitha state-of-the-artsprungperformancefloorand ballet
barres.Thebuildingmettherequiredstandardsforabuildingforhireintermsof energy
efficiency,with the grantof a new EnergyPerformanceCertificatevalid for ten years.The Building
andLiabilityinsuranceshavebeenrevisedtoreflectthenewuseofthebuilding.Architects have
beenappointedtolookatthefeasibilityofseriousupgradingofthefabricofthebuilding, and
theirinitialproposalshavebeenunanimouslysupportedbyboththeTrustBoardand the
Directors of Shanklin Performing Arts Centre CIC.

TheTrusthasoverallresponsibilityforthefabricofShanklinTheatre,althougha substantial
amountofthemaintenanceandImprovementworkiscarriedoutbyappropriatelyskilled FOST
volunteers; during the Covid-19 lockdown routine maintenance continued.

Inadditiontorecruitingandtrainingvolunteers,whoareessentialtotheoperationof the
Theatre,FOSTencouragespublicsupportforShanklinTheatreandraisessignificantlevels of
fundingtobenefittherestorationandupgradingoftheTheatre.FOSThasover1,100paid up
members.

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SHANKLIN THEATRE AND COMMUNITY TRUST

`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021`

`OBJECTIVES AND ACTIVITIES`

TheTrustcontinuestoreviewandupdatetheHealthandSafetyManualandassociated working
practicesandguidelines.Thefixedelectricalequipmentandmainswiringhasbeen regularly
inspectedandisallcoveredbyappropriatesafetycertificates.TheTheatrehas adequate
insurance cover for the buildings, employee and volunteer liability and public liability.

With regardto the operationof the buildingby ShanklinTheatreLtd., it shouldbe noted that  most
regionaltheatres,andquitea fewmajormetropolitanvenues,requiresignificantgrantsfrom the
ArtsCouncilandtheirLocalAuthoritiestosustainthemfinancially.Priortothefunding made
availablein responseto the Covid-19pandemic,neitherShanklinTheatrenor the Trusthave been
in receiptof any grant fundingfrom these bodiesin the last ten years. Prior to the COVID-19 crisis,
theTheatremadeapositivecontributionbeforedepreciationeveryyearsinceit was
incorporated.ThecommercialsuccessofShanklinTheatrehasbeenachievedthroughamix of
cateringfor the tastes of the market,and paying close attentionto expenditureand cash flow.  The
Theatrecontrolsitsstaffcostsbyusingastrongbodyofvolunteers,butensures professionalism
byhavingacorestaffofskilledindividualstoprovidetechnicalcompetenceintermsof sound,
lightingandstagemanagement,andoverallmanagementoftheTheatre,financialcontrol, and
volunteerco-ordination.The Theatrehas fivemembersof salariedstaff,and up to 100  volunteers
regularly working at the Theatre.

`Public benefit`

AlltheactivitiesoftheTrustfocusondeliveringcommunitybenefitandareinaccordance with
the objects of the Trust.

The Trusteeshave compliedwith theirduty to have due regardto the CharityCommission's public
benefit guidance when exercising any powers or duties to which the guidance is relevant.

Page 3

SHANKLIN THEATRE AND COMMUNITY TRUST

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2021

`ACHIEVEMENT AND PERFORMANCE`

`Achievements and performance of subsidiary company - Shanklin Theatre Limited`

With regardto the operationof the buildingby ShanklinTheatreLtd, it shouldbe notedthat most
regionaltheatres,andquitea fewmajormetropolitanvenues,requiresignificantgrantsfrom the
ArtsCouncilandtheirLocalAuthoritiestosustainthemfinancially.Untilthecommencement of
lockdownin March2020,neitherShanklinTheatrenor the Trust,had beenin receiptof any grant
fundingfromthesebodiesduringthelasttenyears.TodatetheTheatrehasmadea positive
contributionbeforedepreciationeveryyearsinceitwasincorporated.However,under the
Government'sCulturalRecoveryFund,availabletotheatresfromthemid-partof2020, the
TheatremadetwosuccessfulapplicationstotheArtsCouncilforgrantstosustainits operation
duetoimposedclosure.Untilthattime,thecommercialsuccessofShanklinTheatrehad been
achievedthroughamixofcateringforthetastesofthemarket,andpayingcloseattention to
expenditureandcashflow.TheTheatrecontrolsitsstaffcostsbyusingastrongbody of
volunteers,butensuresprofessionalismbyhavingacorestaffofskilledindividualsto provide
technicalcompetenceintermsofsound,lightingandstagemanagement,and overall
managementoftheTheatre,financialcontrol,andvolunteerco-ordination.TheTheatrehas just
fivemembersof full-timesalariedstaff,andup to 100unpaidvolunteersregularlyworkingat the
Theatre.

Priortotheclosureofourtheatreoperationforthemajorityofthefinancialyear, Shanklin
TheatreLimitedhadhostedduringtheyear2019/20afullprogrammeofprofessional shows
includingtopentertainersfromcomedianssuchasAlMurray,JimmyCarr,TimBrookTaylor, to
politicalpunditslikeMichaelPortillo,tomusicalperformancesfromTheOvertones,Nick Lowe,
MartiPellow,PaulCarack,ChristopherCross,plusIslandgroupLucid.OperaandBalletwere also
featured,includingperformancesfromtheRussianStateBalletandOpera.In conjunctionwith its
residenttheatrecompanySpotlightIOWLtd,apantomimewasoperatedfrom19th December
2020.OriginallyscheduledtorunforanumberofperformancesuntiltheendofDecember, it
regrettablyhadtocloseafterjust5performancesduetotheGovernment'simposed national
lockdown from 26 December.

ShanklinTheatreremainsvery mucha CommunityHub, and our localTheatreCompany, Spotlight
IOWLtd,priortotheMarch2020lockdownwererunningaweeklystageschoolinShanklin on
Sundays,andholdinguptosixuniquelocallywrittenmusicaltheatreshowsinwhich students
tookpart.Inaddition,SpotlightwereoperatingweeklongTheatreWorkshopsfor French
teenagersintheAutumn,andduringlateSpringandearlySummer,running mini-2-hour
workshopsformixedschoolages.FromMayto earlyJuly,theyalsoputon a weekly performance
aimedspecificallyatschoolparties.Inanormallyoperatingyear,theseactivitiesaddedto our
tourismofferingforeducationalgroups,andinvolvedmanythousandsof Students.During 2020,
Spotlightwerealsounabletoproducetheirannualsummershow"TheWestEndand Beyond"
catering mainly for tourists, particularly visiting coach parties.

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SHANKLIN THEATRE AND COMMUNITY TRUST

`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021`

Inanormaloperatingyear,theTheatrealsohostsperformancesbyFirstAct2011,a Theatre
GroupworkingwithPhysicallyandmentallycompromisedpeopleofallages,puttingonat least
twoexceptionalstageshowseachyear.ShanklinTheatrealsohostsmany community-based
groupsincludingtheIslandDanceandTheatreCompany,Theatretrain,Footsteps,the Island
Savoyardsand the PepperpotPlayers.The Theatreis also used by ShanklinTown Councilfor some
PublicMeetings,andalsobyTheFederationoftheIslandTownswomen'sGuilds.Inaddition to
theselocalgroupsShanklinTheatreisthefocalpointoftheweek-longIsleofWightMusic and
Dance Festival, which attracts participants from across the Island and beyond.

`Achievement and performance of Friends of Shanklin Theatre`

The purposeof the Friendsof ShanklinTheatre(FOST)is to encouragepublicsupportfor Shanklin
Theatre,providevolunteersfortheday-to-dayrunningofthetheatreandraisefundsto benefit
the Theatre.

TheFriendsofShanklinTheatre(FOST)areanincreasinggroupofpeoplefromtheIsleof Wight
and beyond who have Shanklin Theatre at heart.

The Friendshave over 680 members,and 100 of theseserve on a panelof volunteerswillingto be
called upon if required. Over half of these regularly work at the Theatre.

Funds raised have amounted to over £11,000 and have been put towards:

Dressing Room 2 Refurbishment
Bar Window Refurbishment
Box Office Program (Inc E-ticketing)
Dehumidifiers (x2)
Foggers (x3)
Green Room Floor
De-Fib Electrodes

Theever-popularCoffee,CakeandChatisheldbyFOSTonthefirstSaturdaymorningof every
monthexceptinJanuary.Thisisachancetomeetandgreet"newfriends"andtellthem about
the Theatre.

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SHANKLIN THEATRE AND COMMUNITY TRUST

`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021`

`ACHIEVEMENT AND PERFORMANCE Achievement and performance of Shanklin Performing Arts Centre CIC Background`

ShanklinPerformingArtsCentreCICwascreatedtooperatethebuildingformerlyknown as
ShanklinLibrary,VictoriaAvenue,Shanklinasacentretoenableandpromoteperforming arts
particularlyfortheShanklin,BayandIslandCommunity,andtoprovideavenue for
community-basedactivities.Theintentionistowidenthescopeofactivitiesinthebuilding to
provide a centre to show the history of the area, and to allow for display of local visual arts.

The PerformingArts Centrebuildingis currentlyowned by the Isle of Wight Council,and leased on
along-termbasistoShanklinTheatreandCommunityTrust(theTrust),acompanylimited by
guaranteeanda RegisteredCharity.TheTrustis in advancedstagesof purchasingthefreehold of
the Performing Arts Centre building from the Isle of Wight Council.

ShanklinPerformingArtsCentreCICworkscloselywithShanklinTheatreandCommunity Trust,
and severalof the Trusteesof the CharitableTrustare also memberof the PerformingArts  Centre
Boardof Directors.It is theintentionof theTrustto try to raisefundsfora major redevelopment
ofthePerformingArtsCentreBuilding,incloseliaisonwiththeBoardofthePerforming Arts
Centre CIC.

`Objects of the organisation`

TheobjectsoftheCompanyaretocarryonactivitieswhichbenefitthecommunityand in
particular (without limitation):

To foster and promote the improvement, development and maintenance of artistic knowledge and understanding and appreciation of the Arts among the inhabitants of the nation and in particular among the people of Shanklin and the whole of the Isle of Wight by providing training, development and rehearsal facilities for their education in the fields of the Performing Arts including Music and Dance.
To provide a meeting facility for a range of groups and community interests not necessarily connected with the Performing Arts.
To establish, develop and operate a Museum and Heritage Centre within the building focusing on Shanklin and Isle of Wight history for the benefit of the community and visitors alike.

`Progress to date with users`

InitsfirstyearofoperationthebuildinghasbeenusedbytheSavoyardsTheatreCompany and
theatregroupPepper-potPlayers,the DanceVibezDanceSchool,and a CommunityKeep Fit Club,
withconsiderableinterestfromothergroupsforthefutureoncethepremiseshave been
upgraded to make then fit for purpose for the performing arts.

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SHANKLIN THEATRE AND COMMUNITY TRUST

`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021`

`ACHIEVEMENT AND PERFORMANCE`

`Building improvements`

Upontakingoverthebuildingafullstructuralsurveyandasbestossurveywas undertaken,
followedbyspecificgasandelectricalinspections.Thesurveysidentifieda numberofissues that
neededtobeaddressedtobringthefacilityuptogoodor"bestpractice"standards.The gas
supplytothebuildinghasbeencappedofandtheobsoletegasheatersremoved,anew circuit
breakerdistributionboardfor the electricshas been installed,key areas of the buildinghave been
rewired,high wall mountedelectricfan heatersand LED lightinghas beeninstalled,additional fire
extinguishers fitted, and a new security alarm system installed.

Itisintendedthatastate-of-the-arttilebasedsuspendedfloorwillbeinstalledinthe main
performancearea, togetherwith studiomirrorsand balletbarres;most of the equipment involved
can be re-used if the intended major site refurbishment comes to fruition.

`FINANCIAL REVIEW`

`Reserves policy`

TheCharity'spolicyistoholdasaminimumtheequivalentof12monthsoperatingcostsin free
reservesfor uncertaintiesin futureincomeand providea contingencyfor unforeseencosts. When
consideringreservesitisimportanttoappreciatethattheleveloffreeoperatingreserves are
lower due to amounts held in fixed assets.

`STRUCTURE, GOVERNANCE AND MANAGEMENT`

`Governing document`

ShanklinTheatreandCommunityTrustisacharitablecompanylimitedby guarantee,
incorporatedon24November2010andregisteredasacharity(no.1146834)on11April 2012.
ThecompanywasestablishedunderaMemorandumofAssociationwhichsetsoutthe objects
and powers of the charitable company and is governed under its Articles of Association.

`Recruitment and appointment of new trustees`

Thegoverningbodyofthecharityistheboardoftrusteesandtheyareappointedin accordance
with the Articles of Association.

`REFERENCE AND ADMINISTRATIVE DETAILS`

`Registered Company number`

07450494 (England and Wales)

`Registered Charity number`

Page 7

`SHANKLIN THEATRE AND COMMUNITY TRUST`

`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021`

Registered office
Steephill Road
Shanklin
Isle of Wight
PO37 6AJ

`Trustees`

C W Quirk
A C Wood
S J Beston
M T F Beston
C D Harvey
T S Harvey
M Dawson
S McIntosh - appointed 28.10.20
D Kast - resigned 30.09.20

`Company Secretary`

A C Wood

`Independent Examiner`

Bright Brown Limited
Chartered Accountants
Exchange House
St. Cross Lane
Newport
Isle of Wight
PO30 5BZ

Approvedbyorderoftheboardoftrusteeson.............................................andsignedon its
behalf by:

............................................................
C W Quirk - Trustee

Page 8

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
SHANKLIN THEATRE AND COMMUNITY TRUST

`Independent examiner's report to the trustees of Shanklin Theatre and Community Trust ('the Company')`

IreporttothecharitytrusteesonmyexaminationoftheaccountsoftheCompanyforthe year
ended 31 March 2021.

`Responsibilities and basis of report`

As thecharity'strusteesoftheCompany(andalsoitsdirectorsforthepurposesofcompany law)
youareresponsibleforthepreparationoftheaccountsinaccordancewiththerequirements of
the Companies Act 2006 ('the 2006 Act').

HavingsatisfiedmyselfthattheaccountsoftheCompanyarenotrequiredtobeaudited under
Part16ofthe2006Actandareeligibleforindependentexamination,Ireportinrespectof my
examinationofyourcharity'saccountsas carriedoutundersection145oftheCharitiesAct 2011
('the 2011 Act'). In carryingout my examinationI have followedthe Directionsgiven by the  Charity
Commission under section 145(5) (b) of the 2011 Act.

Page 9

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
SHANKLIN THEATRE AND COMMUNITY TRUST

`Independent examiner's statement`

Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattention 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

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 true and fair view which is not a matter considered as part of an independent examination; or

4. 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 concernsand have come acrossno othermattersin connectionwith the examination to
whichattentionshouldbedrawninthisreportinordertoenableaproperunderstandingof the
accounts to be reached.

J Palmer
FCCA
Bright Brown Limited
Chartered Accountants
Newport
Isle of Wight

Date: .............................................

Page 10

SHANKLIN THEATRE AND COMMUNITY TRUST

`STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2021`

`Unrestricted` `funds` `Notes` `£` `INCOME AND ENDOWMENTS FROM` `Donations and legacies` `2` `59,513` `Charitable activities` `Preservation of Shanklin Theatre` `building` `-` `Other trading activities` `3` `1,043` `Investment income` `4` `12,889` `Total` `73,445` `EXPENDITURE ON` `Charitable activities` `Preservation of Shanklin Theatre` `building` `75,633` `NET INCOME/(EXPENDITURE)` `(2,188)` `RECONCILIATION OF FUNDS` `Total funds brought forward` `486,908` `TOTAL FUNDS CARRIED FORWARD` `484,720`	`Restricted` `funds` `£` `-` `11,216` `-` `-` `11,216` `7,470` `3,746` `15,892` `19,638`	`2021` `Total` `funds` `£` `59,513` `11,216` `1,043` `12,889` `84,661` `83,103` `1,558` `502,800` `504,358`	`2020` `Total` `funds` `£` `16,346` `35,693` `-` `32,859`
			`84,898` `64,173`
			`20,725` `482,075`
			`502,800`

The notes form part of these financial statements

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SHANKLIN THEATRE AND COMMUNITY TRUST

`BALANCE SHEET 31 MARCH 2021`

`Unrestricted` `funds` `Notes` `£` `FIXED ASSETS` `Tangible assets` `8` `402,106` `Investments` `9` `3` `402,109` `CURRENT ASSETS` `Debtors` `10` `3,604` `Cash at bank and in hand` `79,817` `83,421` `CREDITORS` `Amounts falling due within one year` `11` `(810)` `NET CURRENT ASSETS` `82,611` `TOTAL ASSETS LESS CURRENT` `LIABILITIES` `484,720` `NET ASSETS` `484,720` `FUNDS` `12` `Unrestricted funds` `Restricted funds` `TOTAL FUNDS`	`Restricted` `funds` `£` `-` `-` `-` `-` `19,638` `19,638` `-` `19,638` `19,638` `19,638`	`2021` `Total` `funds` `£` `402,106` `3` `402,109` `3,604` `99,455` `103,059` `(810)` `102,249` `504,358` `504,358` `484,720` `19,638` `504,358`	`2020` `Total` `funds` `£` `402,632` `3` `402,635` `1,258` `99,717` `100,975` `(810)` `100,165` `502,800` `502,800` `486,908` `15,892` `502,800`

ThecharitablecompanyisentitledtoexemptionfromauditunderSection477ofthe Companies
Act 2006 for the year ended 31 March 2021.

The membershave not requiredthe companyto obtainan auditof its financialstatementsfor  the
year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The notes form part of these financial statements

continued...

Page 12

`SHANKLIN THEATRE AND COMMUNITY TRUST`

`BALANCE SHEET - continued 31 MARCH 2021`

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.

Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicable to
charitable companies subject to the small companies regime.

ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
............................................. and were signed on its behalf by:

.............................................

C W Quirk - Trustee

.............................................

A C Wood - Trustee

The notes form part of these financial statements

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SHANKLIN THEATRE AND COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021

`1. ACCOUNTING POLICIES`

`Basis of preparing the financial statements`

Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentity under
FRS102,havebeenpreparedinaccordancewiththeCharitiesSORP(FRS102) 'Accounting
andReportingbyCharities:StatementofRecommendedPracticeapplicableto charities
preparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicable in
theUKandRepublicofIreland(FRS102)(effective1January2019)',Financial Reporting
Standard102 'The FinancialReportingStandardapplicablein the UK and Republicof  Ireland'
andtheCompaniesAct2006.Thefinancialstatementshavebeenpreparedunder the
historicalcostconvention,withtheexceptionofinvestmentswhichareincludedat market
value.

`Income`

AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharity has
entitlementto the funds,it is probablethat the incomewill be receivedand the amount can
be measured reliably.

`Expenditure`

Liabilitiesare recognisedas expenditureas soon as thereis a legal or constructive obligation
committingthecharitytothatexpenditure,itisprobablethatatransferof economic
benefitswillberequiredinsettlementandtheamountoftheobligationcanbe measured
reliably.Expenditureisaccountedforonanaccrualsbasisandhasbeenclassified under
headingsthataggregateallcostrelatedtothecategory.Wherecostscannotbe directly
attributedto particularheadingsthey have beenallocatedto activitieson a basis consistent
with the use of resources.

`Tangible fixed assets`

Depreciationisprovidedatthefollowingannualratesinordertowriteoffeachasset over
its estimated useful life.

Plant and machinery- 20% on reducing balance

Nodepreciationhasbeenprovidedonthetheatrebuildingsbecause,intheopinionof the
directors,thechargewouldbeimmaterialduetothelonglifeoftheassetand the
requirementtomaintainthelistedbuilding.Thedirectorscarryoutannual impairment
reviews to ascertain whether a provision is necessary.

`Taxation`

The charity is exempt from corporation tax on its charitable activities.

continued...

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SHANKLIN THEATRE AND COMMUNITY TRUST

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021`

`1. ACCOUNTING POLICIES - continued`

`Fund accounting`

Unrestrictedfundscanbeusedinaccordancewiththecharitableobjectivesat the
discretionof the trustees. The trusteesprincipalactivityof the charityis to hold the theatre
building in trust.

Restrictedfunds can only be used for particularrestrictedpurposeswithin the objectsof  the
Charity.Restrictionsarisewhenspecifiedbythedonororwhenfundsareraised for
particularrestrictedpurposes.Furtherexplanationofthenatureandpurposeofeach fund
is included in the notes to the financial statements.

`2. DONATIONS AND LEGACIES`

`Unrestricted` `Restricted` `funds` `funds` `£` `£` `Donations` `6,383` `-` `Gift aid` `3,604` `-` `Grants` `49,526` `-` `59,513` `-` `OTHER TRADING ACTIVITIES` `Unrestricted` `Restricted` `funds` `funds` `£` `£` `Other income` `1,043` `-`	`2021` `Total` `funds` `£` `6,383` `3,604` `49,526` `59,513` `2021` `Total` `funds` `£` `1,043`	`2020` `Total` `funds` `£` `15,088` `1,258` `-`
		`16,346`

		`2020` `Total` `funds` `£` `-`

`3. OTHER TRADING ACTIVITIES`

continued...

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SHANKLIN THEATRE AND COMMUNITY TRUST

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021`

`4. INVESTMENT INCOME`

`INVESTMENT INCOME`
`Unrestricted` `Restricted` `funds` `funds` `£` `£` `Rents received` `12,818` `-` `Deposit account interest` `71` `-` `12,889` `-`	`2021` `Total` `funds` `£` `12,818` `71` `12,889`	`2020` `Total` `funds` `£` `32,647` `212`
		`32,859`

`5. NET INCOME/(EXPENDITURE)`

Net income/(expenditure) is stated after charging/(crediting):

	`2021`	`2020`
	`£`	`£`
`Depreciation - owned assets`	`526`	`658`

`6. TRUSTEES' REMUNERATION AND BENEFITS`

Therewerenotrustees'remunerationor otherbenefitsfortheyearended31 March 2021
nor for the year ended 31 March 2020.

`Trustees' expenses`

Therewerenotrustees'expensespaidfortheyearended31 March2021norforthe year
ended 31 March 2020.

continued...

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SHANKLIN THEATRE AND COMMUNITY TRUST

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021`

`7.` `COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES` `Unrestricted` `funds` `£` `INCOME AND ENDOWMENTS FROM` `Donations and legacies` `16,346` `Charitable activities` `Preservation of Shanklin Theatre` `building` `-` `Investment income` `32,859` `Total` `49,205` `EXPENDITURE ON` `Charitable activities` `Preservation of Shanklin Theatre` `building` `29,894` `NET INCOME` `19,311` `RECONCILIATION OF FUNDS` `Total funds brought forward` `467,597` `TOTAL FUNDS CARRIED FORWARD` `486,908`	`Restricted` `funds` `£` `-` `35,693` `-` `35,693` `34,279` `1,414` `14,478` `15,892`	`Total` `funds` `£` `16,346` `35,693` `32,859`
		`84,898` `64,173`
		`20,725` `482,075`
		`502,800`

continued...

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SHANKLIN THEATRE AND COMMUNITY TRUST

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021`

`8.` `TANGIBLE FIXED ASSETS` `COST` `At 1 April 2020 and 31 March 2021` `DEPRECIATION` `At 1 April 2020` `Charge for year` `At 31 March 2021` `NET BOOK VALUE` `At 31 March 2021` `At 31 March 2020` `9.` `FIXED ASSET INVESTMENTS` `MARKET VALUE` `At 1 April 2020 and 31 March 2021` `NET BOOK VALUE` `At 31 March 2021` `At 31 March 2020`	`Freehold` `property` `£` `400,000` `-` `-` `-` `400,000` `400,000`	`Plant and` `machinery` `Totals` `£` `£` `10,040` `410,040` `7,408` `7,408` `526` `526` `7,934` `7,934` `2,106` `402,106` `2,632` `402,632` `Shares in` `group` `undertakings` `£` `3` `3` `3`

There were no investment assets outside the UK.

The company's investments at the balance sheet date in the share capital of companies
include the following:

continued...

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SHANKLIN THEATRE AND COMMUNITY TRUST

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021`

`9. FIXED ASSET INVESTMENTS - continued`

`Shanklin Theatre Limited`

Registered office: Shanklin Theatre, Steephill Road, Shanklin, Isle Of Wight,PO37 6AJ
Nature of business: Theatre trading company

	`%`
`Class of share:`	`holding`
`Ordinary`	`100`
		`2021`	`2020`
		`£`	`£`
`Aggregate capital and reserves`		`(14,127)`	`(19,827)`
`Profit/(loss) for the year`		`5,700`	`(2,584)`

`Shankiln Performing Arts CIC`

Registered office: Shanklin Theatre, Steephill Road, Shanklin, Isle Of Wight,PO37 6AJ
Nature of business: Performing arts

`%` `Class of share:` `holding` `Sole member` `100` `Aggregate capital and reserves` `Profit for the year` `10.` `DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR` `Accrued income`	`2021` `£` `18,398` `18,398` `2021` `£` `3,604`	`2020` `£` `-` `-` `2020` `£` `1,258`

continued...

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SHANKLIN THEATRE AND COMMUNITY TRUST

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021`

`11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`

Accrued expenses
12.
MOVEMENT IN FUNDS
At 1.4.20
£
Unrestricted funds
General fund
81,878
Fixed asset fund
402,635
Window appeal fund (designated)
2,395
486,908
Restricted funds
Friends of Shanklin Theatre
15,892
TOTAL FUNDS
502,800
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
73,445
Fixed asset fund
-
Window appeal fund (designated)
-
73,445
Restricted funds
Friends of Shanklin Theatre
11,216
TOTAL FUNDS
84,661 2021
2020
£
£
810
810
Net
movement
At
in funds
31.3.21
£
£
(277)
81,601
(526)
402,109
(1,385)
1,010
(2,188)
484,720
3,746
19,638
1,558
504,358
Resources
Movement
expended
in funds
£
£
(73,722)
(277)
(526)
(526)
(1,385)
(1,385)
(75,633)
(2,188)
(7,470)
3,746
(83,103)
1,558

continued...

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SHANKLIN THEATRE AND COMMUNITY TRUST

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021`

`12. 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`	`61,909` `19,969`	`81,878`
`Fixed asset fund`	`403,293` `(658)`	`402,635`
`Window appeal fund (designated)`	`2,395` `-`	`2,395`
	`467,597` `19,311`	`486,908`
`Restricted funds`
`Friends of Shanklin Theatre`	`14,478` `1,414`	`15,892`
`TOTAL FUNDS`	`482,075` `20,725`	`502,800`

`Comparative net movement in funds, included in the above are as follows:`
	`Incoming` `Resources`	`Movement`
	`resources` `expended`	`in funds`
	`£` `£`	`£`
`Unrestricted funds`
`General fund`	`49,205` `(29,236)`	`19,969`
`Fixed asset fund`	`-` `(658)`	`(658)`
	`49,205` `(29,894)`	`19,311`
`Restricted funds`
`Friends of Shanklin Theatre`	`35,693` `(34,279)`	`1,414`
`TOTAL FUNDS`	`84,898` `(64,173)`	`20,725`

`Window Appeal`

The Trust are asking for donations to replace some of the windows in the Theatre.

continued...

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SHANKLIN THEATRE AND COMMUNITY TRUST

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021`

`13. RELATED PARTY DISCLOSURES`

Duringthe year,ShanklinTheatreand CommunityTrustmadedonationsof £50,759(2020 -
£25,459)toShanklinTheatreLimited,and£20,937toShanklinPerformingArtsCIC,both of
which are subsidiaries of the charity.

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SHANKLIN THEATRE AND COMMUNITY TRUST

`DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021`

`Unrestricted` `Restricted` `funds` `funds` `£` `£` `INCOME AND ENDOWMENTS` `Donations and legacies` `Donations` `6,383` `-` `Gift aid` `3,604` `-` `Grants` `49,526` `-` `59,513` `-` `Other trading activities` `Other income` `1,043` `-` `Investment income` `Rents received` `12,818` `-` `Deposit account interest` `71` `-` `12,889` `-` `Charitable activities` `Friends of Shanklin Theatre income` `-` `11,216` `Total incoming resources` `73,445` `11,216` `EXPENDITURE` `Charitable activities` `Insurance` `1,436` `-` `Postage and stationery` `82` `-` `Advertising` `323` `-` `Sundries` `188` `-` `Legal and professional fees` `-` `-` `Carried forward` `2,029` `-`	`2021` `Total` `funds` `£` `6,383` `3,604` `49,526` `59,513` `1,043` `12,818` `71` `12,889` `11,216` `84,661` `1,436` `82` `323` `188` `-` `2,029`	`2020` `Total` `funds` `£` `15,088` `1,258` `-`
		`16,346` `-` `32,647` `212`
		`32,859` `35,693`
		`84,898` `60` `86` `565` `579` `1,020` `2,310`

This page does not form part of the statutory financial statements

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SHANKLIN THEATRE AND COMMUNITY TRUST

`DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021`

`Unrestricted` `Restricted` `funds` `funds` `£` `£` `Charitable activities` `Brought forward` `2,029` `-` `Software development` `629` `-` `Donation to Shanklin Theatre Limited` `50,759` `-` `Friends of Shanklin Theatre expenses` `-` `7,470` `Donations to Shanklin Performing Arts` `CIC` `20,937` `-` `Plant and machinery` `526` `-` `74,880` `7,470` `Support costs` `Governance costs` `Accountancy and legal fees` `753` `-` `Total resources expended` `75,633` `7,470` `Net income` `(2,188)` `3,746`	`2021` `Total` `funds` `£` `2,029` `629` `50,759` `7,470` `20,937` `526` `82,350` `753` `83,103` `1,558`	`2020` `Total` `funds` `£` `2,310` `549` `25,459` `34,279` `-` `658`
		`63,255` `918`
		`64,173`
		`20,725`

This page does not form part of the statutory financial statements

Page 24