``` 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. ``` ``` Page 2 ``` ``` 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. ``` ``` Page 4 ``` ``` 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. ``` ``` Page 5 ``` ``` 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. ``` ``` Page 6 ``` ``` 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`** ``` 1146834 ``` ``` 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 ``` ``` Page 11 ``` ``` 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 ``` ``` Page 13 ``` ``` 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... ``` ``` Page 14 ``` ``` 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... ``` ``` Page 15 ``` ``` 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... ``` ``` Page 16 ``` ``` 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... ``` ``` Page 17 ``` ``` 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... ``` ``` Page 18 ``` ``` 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... ``` ``` Page 19 ``` ``` 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... ``` ``` Page 20 ``` ``` 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... ``` ``` Page 21 ``` ``` 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. ``` ``` Page 22 ``` ``` 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 ``` ``` Page 23 ``` ``` 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 ```