REPORT OF THE TRUSTEES AND DIRECTORS FOR THE YEAR ENDED 31 MARCH 2023
SHANKLIN THEATRE AND COMMUNITY TRUST (Charity No. 1146834 / Company No. 07450494)
Shanklin Theatre and Community Trust (the Trust) is a Company Limited by Guarantee and a Registered Charity. The Trust owns the freehold to Shanklin Theatre and Shanklin Performing Arts Centre and is responsible for the preservation of Shanklin Theatre and the development of Shanklin Performing Arts Centre. The Trust has two subsidiary bodies, Shanklin Theatre Limited (the Theatre) and the Friends of Shanklin Theatre (FOST). Shanklin Theatre Ltd operates the Theatre on a day-to-day basis and puts on a full programme of both professional shows and Community productions; FOST facilitates member of the Community engaging with the Theatre, and its team of volunteers allows the Theatre to operate as a viable entity. The Trust has overall responsibility for the fabric of Shanklin Theatre, although a substantial amount of the maintenance and Improvement work is carried out by appropriately skilled FOST volunteers.
Like virtually all performing arts organisations in the UK, the operations of the Trust and Shanklin Theatre were impacted dramatically by the Covid-19 epidemic. However, with the furlough scheme and Arts Council and Government grants delivered through the Local Authority the organisation weathered the storm without laying off staff, and audience levels have gradually increased almost to pre-covid levels.
In addition to the Theatre, the Trust also owns the former Shanklin Library building, operating it as a Performing Arts Centre operated through a Community Interest Company known as Shanklin Performing Arts Centre CIC. The Trust aspires to develop the Performing Arts Centre to include a small 106 seat Studio Theatre together with changing rooms and a foyer bar. The building would also include dance studios and rehearsal areas, and space to house a Shanklin Museum. The plans have gone through a pre-application process with the Local Planning Authority who have reacted positively to the proposals, and have been reviewed by the Theatres Trust, statutory consultee, who are very supportive of the proposals. Realisation of this development is dependent upon raising the required funds, but to date during public consultation the plans have been overwhelmingly supported by local Theatre Groups, local stage and dance schools, the local MP and Parliamentary
candidates, the Island’s Lord Lieutenant, and most importantly most local residents.
A Performing Arts Centre is already operating a high-quality dance studio/rehearsal area in what was previously the main hall of the Town Library. The Trust has installed an industry standard suspended floor with a carbon fibre reinforced dance floor covering, together with full length dance mirrors, a high-quality upright piano, a music centre and two moveable ballet barres. The electrical system of the building has been upgraded, including replacing old fluorescent lighting with LED lighting tubes and the installation of high-level electric fan heaters. A new intruder alarm system installed, along with a CCTV system with remote access. The building is registered with the PPS and PRS, has a valid Energy Performance Certificate and the Building and Liability insurances have been revised to reflect the new use of the facility. The Performing Arts Centre is in use every day of the week up to five sessions per day.
The Trust continues to review and update the Health and Safety Manual and associated working practices and guidelines. The fixed electrical equipment and mains wiring is regularly inspected, and all are covered by appropriate safety certificates. The Theatre has adequate insurance cover for the buildings, employee and volunteer liability and public liability.
Regarding the operation of the building by Shanklin Theatre Ltd., it should be noted that most regional theatres and quite a few major metropolitan venues, require significant grants from the Arts Council and their Local Authorities to sustain them financially. Prior to the funding made available in response to the Covid-19 pandemic, neither Shanklin Theatre nor the Trust have been in receipt of any grant funding from these bodies in the last ten years. Prior to the COVID-19 crisis, the Theatre made a positive contribution before depreciation every year since it was incorporated. The commercial success of Shanklin Theatre has been achieved through a mix of catering for the tastes of the market and paying close attention to expenditure and cash flow. The Theatre controls its staff costs by using a strong body of volunteers but ensures high levels of professionalism by extensive training of volunteers and by having a core staff of skilled individuals to provide technical competence in terms of sound, lighting and stage management, as well as professional management of the Theatre, overseeing bookings, box office, operating systems, financial control and volunteer co-ordination. The Theatre has five members of salaried staff, and around 130 volunteers regularly working at the Theatre.
```
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 2023`**
## **`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
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## **`CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023`**
|||**`Page`**||
|---|---|---|---|
|**`Report of the Trustees`**|`1`|`to`|`7`|
|**`Independent Examiner's Report`**||`8`||
|**`Statement of Financial Activities`**||`9`||
|**`Balance Sheet`**|`10`|`to`|`11`|
|**`Notes to the Financial Statements`**|`12`|`to`|`20`|
|**`Detailed Statement of Financial Activities`**|`21`|`to`|`22`|
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SHANKLIN THEATRE AND COMMUNITY TRUST
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```
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2023
```
```
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheirreport with
thefinancialstatementsofthecharityfortheyearended31March2023.Thetrusteeshaveadoptedtheprovisions of
AccountingandReportingbyCharities:StatementofRecommendedPracticeapplicabletocharitiespreparing their
accountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS 102)
(effective 1 January 2019).
```
## **`OBJECTIVES AND ACTIVITIES`**
## **`Objectives and aims`**
```
ShanklinTheatreand CommunityTrust (the Trust)is a CompanyLimitedby Guaranteeand a RegisteredCharity.The Trust
ownsthefreeholdtoShanklinTheatreandShanklinPerformingArtsCentre,andisresponsibleforthepreservation of
ShanklinTheatre and the developmentof ShanklinPerformingArts Centre. The Trust has three subsidiarybodies, Shanklin
TheatreLimited(theTheatre),theFriendsofShanklinTheatre(FOST)andShanklinPerformingArtsCIC.Shanklin Theatre
Ltd operatesthe Theatreon a day-to-daybasis,and puts on a full programmeof bothprofessionalshows and Community
productions;FOST facilitatesmember of the Communityengagingwiththe Theatre,andits team of volunteersallows the
Theatretooperateasaviableentity.TheTrusthasoverallresponsibilityforthefabricofShanklinTheatre,although a
substantial amount of the maintenance and Improvement work is carried out by appropriately skilled FOST volunteers.
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Page 1
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SHANKLIN THEATRE AND COMMUNITY TRUST
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REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2023
```
## **`OBJECTIVES AND ACTIVITIES`**
## **`Review of activities`**
```
LikevirtuallyallperformingartsorganisationsintheUK, theoperationsof theTrustandShanklinTheatrewere impacted
dramaticallybytheCovid-19epidemic.However,withthefurloughschemeandArtsCouncilandGovernment grants
deliveredthroughtheLocalAuthoritytheorganisationweatheredthestormwithoutlayingoffstaff,andaudience levels
have gradually increased almost to pre-covid levels.
```
```
InadditiontotheTheatre,theTrustalsoownstheformerShanklinLibrarybuilding,operatingitasaPerforming Arts
Centre operatedthrougha CommunityInterestCompanyknownas ShanklinPerformingArts Centre CIC. The Trust aspires
todevelopthePerformingArtsCentretoincludeasmall106seatStudioTheatretogetherwithchangingroomsand a
foyer bar. The buildingwouldalso includedance studiosand rehearsalareas, and space to house a ShanklinMuseum. The
planshavegonethroughapre-applicationprocesswiththeLocalPlanningAuthoritywhohavereactedpositivelyto the
proposals,andhavebeenreviewedbytheTheatresTrust,statutoryconsultee,whoareverysupportiveof the proposals.
Realisationofthisdevelopmentis dependentuponraisingtherequiredfunds,buttodateduringpublicconsultation the
planshavebeenoverwhelminglysupportedbylocalTheatreGroups,localstageanddanceschools,thelocalMP and
Parliamentary candidates, the Island's Lord Lieutenant, and most importantly most local residents.
```
```
A PerformingArts Centreis alreadyoperatinga high-qualitydancestudio/rehearsalareain whatwas previouslythe main
hall of the Town Library.The Trust has installedan industrystandardsuspendedfloor with a carbonfibre reinforced dance
floorcovering,togetherwithfulllengthdancemirrors,ahigh-qualityuprightpiano,amusiccentreandtwo moveable
ballet barres.The electricalsystem of the buildinghas been upgraded,includingreplacingold fluorescentlightingwith LED
lightingtubesandtheinstallationofhigh-levelelectricfanheaters.Anewintruderalarmsysteminstalled,alongwith a
CCTVsystemwithremoteaccess.ThebuildingisregisteredwiththePPSandPRS,hasavalidEnergy Performance
Certificateand the Buildingand Liabilityinsuranceshave been revised to reflect the new use of the facility.The Performing
Arts Centre is in use every day of the week up to five sessions per day.
```
```
The Trustcontinuesto review andupdatethe HealthandSafetyManualandassociatedworkingpracticesand guidelines.
Thefixedelectricalequipmentandmainswiringisregularlyinspected,andallarecoveredbyappropriate safety
certificates.TheTheatrehasadequateinsurancecoverforthebuildings,employeeandvolunteerliabilityand public
liability.
```
```
Regardingthe operationof the buildingby ShanklinTheatreLtd,it shouldbe notedthatmost regionaltheatresand quite
afewmajormetropolitanvenues,requiresignificantgrantsfromtheArtsCouncilandtheirLocalAuthoritiesto sustain
themfinancially.Priorto thefundingmadeavailableinresponseto theCovid-19pandemic,neitherShanklinTheatre nor
the Trust have been in receipt of any grant fundingfrom these bodies in the last ten years. Prior to the COVID-19 crisis, the
Theatre made a positivecontributionbefore depreciationevery year since it was incorporated.The commercialsuccess of
ShanklinTheatrehasbeenachievedthroughamixofcateringforthetastesofthemarketandpayingcloseattention to
expenditureand cash flow. The Theatre controlsits staff costs by using a strongbody of volunteersbut ensures high levels
of professionalismby extensivetrainingof volunteersandby havinga corestaffof skilledindividualsto provide technical
competenceintermsofsound,lightingandstagemanagement,aswellasprofessionalmanagementofthe Theatre,
overseeingbookings,boxoffice,operatingsystems,financialcontrolandvolunteerco-ordination.TheTheatrehas five
members of salaried staff, and around 130 volunteers regularly working at the Theatre.
```
## **`Public benefit`**
```
All the activities of the Trust focus on delivering community benefit and are in accordance with the objects of the Trust.
```
```
The Trusteeshave compliedwith theirdutyto have due regardto the CharityCommission'spublicbenefitguidance when
exercising any powers or duties to which the guidance is relevant.
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Page 2
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SHANKLIN THEATRE AND COMMUNITY TRUST
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```
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2023
```
## **`ACHIEVEMENT AND PERFORMANCE`**
## **`Achievements and performance of subsidiary company - Shanklin Theatre Limited`**
```
TheTheatrehasremainedfocusedoncontrollingitscosts,payingcloseattentiontoexpenditureandcashflow. We
continueto be supportedby a strongbodyof volunteersworkingin the majorityof our operationalareas, but also ensure
ourprofessionalismforperformersandaudiencealike,byourcoreemployeeteamofskilledindividuals.This team
providestechnicalcompetenceintermsofsound,lightingandstagemanagement,aswellasoverallmanagementof the
Theatre,itsfinancialcontrol,andvolunteerco-ordination.Currentlywe havejustfive membersof full-timesalaried staff,
and are supported by up to 100 unpaid volunteers regularly working at our Theatre.
```
```
Ourteamofskilledmaintenancevolunteerstooktheopportunityofcarryingoutanumberofmajor refurbishment
projectswhichwerenotpossibleduringanormaloperatingperiod.Thisincludedcompletingtherefurbishmentof our
dressing rooms, as well as creating additional toilet and shower facilities backstage.
```
```
DuringtheyearamajorcampaignwaslaunchedtoraisefundstoenablenewLadies'Toiletstobecreatedwithin the
Theatre.SupportwasreceivedfromtheTheatresTrust,ShanklinTownCouncil,theDaisyRichTrustandFriends of
ShanklinTheatre.The £26,000raisedwill enablethe projectto go aheadin the autumnwith completionhopefullyin time
for the Panto in December.
```
```
ShowsoperatedattheTheatreincluded:CraigRevelHorwood,AlMurray,ChrisRamsey,theUkrainianNational Opera,
specialinterestpresentationsbyJohnSuchetandMichaelPortillo,andmusicactssuchasLeoSayerandAlbertLee plus
somepopulartributeacts.Othersshowsincluded'HunchbackofNotreDame'and'GuysandDolls'bylocalgroup The
Island Savoyards. A Christmas Panto was also hosted at the Theatre operated by Spotlight IOW Ltd.
```
```
ShanklinTheatreremainsverymuchaCommunityHub,withresidentprofessionalTheatreCompany,SpotlightIOW Ltd,
operatingastageschoolandrunningregularmusicaltheatreshowsattheTheatre,inwhichtheirstudentstake part.
Duringthesummerof2022,Spotlightagainoperatedtheirannualsummershow''BeyondTheWestEnd"which, whilst
attendedbyourlocalcommunity,alsoattractstourists,particularlyvisitingcoachpartiesandindoingso, contributes
significantly to providing entertainment for the the Island's tourism.
```
```
TheTheatrealsohostedperformancesbyFirstAct2011,aTheatreGroupworkingwithphysicallyand mentally
compromisedpeopleofallages.ShanklinTheatrealsohostsmanycommunity-basedgroupsincluding:Theatretrain, the
IslandSavoyards,thePepperpotPlayersandVentnorTheatreGroup.TheTheatreisalsousedonoccasionsby Shanklin
TownCouncilforsomePublicMeetings.Inadditiontolocalgroups,ShanklinTheatreisthefocalpointofthe week-long
IsleofWightMusicandDanceFestivalandduringMarch2023,wasonceagainabletohostthisfestivalwhich attracts
participants from across the Island and beyond.
```
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Page 3
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SHANKLIN THEATRE AND COMMUNITY TRUST
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```
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2023
```
## **`ACHIEVEMENT AND PERFORMANCE`**
## **`Achievement and performance of Friends of Shanklin Theatre`**
```
ThepurposeoftheFriendsofShanklinTheatre(FOST)istoencouragepublicsupportforShanklinTheatre, provide
volunteers for the day-to-day running of the Theatre and raise funds to benefit the Theatre.
```
```
FOST are an ever-increasing group of people from the Isle of Wight and beyond who have Shanklin Theatre at heart.
```
```
FOSTcurrentlyhaveover767members,and178oftheseserveonapanelofvolunteerswillingtobecalledupon if
required.OverhalfofthesevolunteersregularlyworkattheTheatre.FOSTalsohas124Patronsand11 Corporate
Sponsors who choose to pay an enhanced membership fee to help support the theatre.
```
## **`FOST Executive Committee`**
```
Asfrom1stJanuary2024,theannualmembershipsubscriptionswillbeincreasedto£15.00.Thelastchange to
subscriptionswasin2018,somefiveyearsago.A£3.00increaseperyearwillhelptoassistFOSTinitscontinuance of
donating funds to the theatre as it has done since FOST was created back in 2008.
```
```
FOSTwillcontinuetoprovidediscountedticketsonselectedshows,thequarterlynewsletter'StageWrite', priority
bookingswheneverpossibleforFOSTmembersto purchaseticketsinadvanceof thegeneralpublic,andautomatic entry
into the monthly members draw to win theatre vouchers.
```
```
TheFOSTExecutivecommitteeremainsas8memberswithspecificdefinedroles.TheViceChairmanrolehas been
removedand a new role of FOST Policyand Supporthas been createdas a supportrole to all committeemembers should
the need arise.
```
## **`Volunteer Training`**
```
The continuationof the volunteersInductionSessionsare provingto be invaluablefor our new volunteers,as this enables
eachvolunteertoviewandappreciatehowotherdepartmentsoperatewithinthetheatre.Thesamecanbesaid about
the regularTeam LeadersMeetings.These meetingsgive an opportunityfor volunteersto meet up anddiscusstheir roles
and ideas in an open forum.
```
```
Volunteertrainingsessionscontinueatpace,includingthefireandemergencyevacuationsessionsthatregularly take
place in the theatres' lower auditorium.
```
## **`FOST Fundraising and Funded Work`**
```
One of the remits of FOST is to raise money to benefitthe Theatre.Fundraisinggoes from strengthto strengthdespite the
riseinthecostofliving,thisisdueinlargeparttotheworkofourPrizeDrawTeamsellingprizedrawticketsat every
showinthetheatre.Additional,muchneededfundsarealsogeneratedthroughmembershipsubscriptions,the Coffee,
Cake and Chat mornings, raffles, souvenirs, curry evening and external donations.
```
```
Workingwith the theatre'sCommunityTrust,FOST now has its own charityregisteredeBay store where theatre souvenirs
and products can be purchased on-line generating additional funds for the theatre.
```
```
In2022,FOSTwaschosenasthecharityoftheyearfortheShanklinHotelandAccommodationAssociationwho have
continually supported the theatre over the years.
```
```
Currentlyfor this year, funds raised to date have amountedto over £31,000 and the Committee has agreed to fund or part
fund the following projects:
```
- `Replacement two-way Usherette & Usher radio's`
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Page 4
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SHANKLIN THEATRE AND COMMUNITY TRUST
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## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023`**
## **`ACHIEVEMENT AND PERFORMANCE`**
- `Boom headsets (Usherette & Usher)`
- `Lockable spirits cabinet (Bar)`
- `Substantial contribution (two payments) to the renovation and extension of the Ladies' WC facilities at the lower Bar level`
- `Chauvet LED stage lighting`
- `New coffee machine (Bar)`
- `Gobo LED stage lighting`
```
Inadditiontotheabove,FOSThassetaside£10,000asacontingencyfundforanyfuturestagetechnical equipment
requirements and possible contribution to a new Box Office ticketing and FOST membership system.
```
## **`FOST Events and Community`**
```
Internalandexternaleventscontinueacrosstheyear,includingpromotionaleventssuchassummerfairs,fêtes and
carnivals.The popularCoffee,Cake andChatmorningsheldby FOST on the firstSaturdaymorningof every month except
forJanuary,attractguestspeakersandvisitingcommunitygroupsfromacrosstheIsland.Thisisachancetomeet and
greet "new friends" and tell them about the Theatre.
```
```
Workingin conjunctionwith the Island'sdestinationmanagementorganisation;Visit Isle of Wight Ltd, FOST contributes to
the bi-annual Isle of Wight Walking Festival by creating its own guided walks.
```
```
WorkingwiththeShanklinTheatremanagementteam,FOSThasstartedtoconductregularguidedtoursofthe theatre
that sell out very quickly. The ticket sales are managed through the Box Office booking system.
```
```
RecognitioneventsincludetheVolunteers,PatronsandCorporateSponsorThankYoueveningsandtheannual FOST
Garden Party.
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Page 5
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SHANKLIN THEATRE AND COMMUNITY TRUST
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```
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2023
```
## **`ACHIEVEMENT AND PERFORMANCE`**
## **`Achievement and performance of Shanklin Performing Arts Centre CIC`**
```
ShanklinPerformingArtsCentreCICcontinuestoprovideavenueforcommunity-basedactivities.Theintentionis to
widen the scope of activitiesin the buildingto providea Centre to show the historyof the area, and to allow for display of
local visual arts.
```
```
ShanklinTheatreandCommunityTrust(the Trust),a Companylimitedby guaranteeanda RegisteredCharity, completed
the purchase of the freehold of the Performing Arts Centre building from the Isle of Wight Council on 9th May 2022.
```
```
ItistheintentionoftheTrusttotrytoraisefundsforamajorredevelopmentofthePerformingArtsCentreBuilding, in
closeliaisonwiththeBoardofthePerformingArtsCentreCIC.Afeasibilitystudyhasbeenmade,plansdrawnup by
LondonArchitects,HarveyWright,andpre-applicationadvicesoughtfromtheIOWPlanningDepartment.Following a
public consultation, a full planning application will be submitted towards the end of 2023.
```
## **`Objects of the organisation`**
```
The objects of the Company are to carry on activities which benefit the community and 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`**
```
In its third year of operationthe buildinghas been used by The Island Savoyards,VentnorTheatre Group, Curtain Creative,
theDanceVibezDanceSchool,JoelMorrisDanceAcademy,BurlesqueChairDanceCompany,DeeliteFitnessand Pilates
with Meg Groups, and Community Action Isle of Wight.
```
## **`Building improvements`**
```
Seven wall mirrorshave been fitted,and CCTV and Securitylights have been installed.Most of the equipmentinvolved can
be re-used if the intended major site refurbishment comes to fruition.
```
## **`FINANCIAL REVIEW`**
## **`Reserves policy`**
```
The Charity'spolicyis to holdas a minimumthe equivalentof 12 monthsoperatingcosts in free reserves for uncertainties
in futureincomeand providea contingencyfor unforeseencosts.When consideringreserves it is importantto appreciate
that the level of free operating reserves are lower due to amounts held in fixed assets.
```
## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`**
## **`Governing document`**
```
ShanklinTheatreand CommunityTrustis a charitablecompanylimitedby guarantee,incorporatedon 24 November 2010
andregisteredasacharity(no.1146834)on11April2012.ThecompanywasestablishedunderaMemorandum of
AssociationwhichsetsouttheobjectsandpowersofthecharitablecompanyandisgovernedunderitsArticles of
Association.
```
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Page 6
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SHANKLIN THEATRE AND COMMUNITY TRUST
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## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023`**
## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`**
## **`Recruitment and appointment of new trustees`**
```
ThegoverningbodyofthecharityistheboardoftrusteesandtheyareappointedinaccordancewiththeArticles of
Association.
```
## **`REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number`**
```
07450494 (England and Wales)
```
```
Registered Charity number
1146834
```
```
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
D P Beeson
```
## **`Company Secretary`**
```
A C Wood
```
## **`Independent Examiner`**
```
Bright Brown Limited
Chartered Accountants
Exchange House
St. Cross Lane
Newport
Isle of Wight
PO30 5BZ
```
```
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
```
```
..........................................................................
C W Quirk - Trustee
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Page 7
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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')`**
```
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 thecharity'strusteesof theCompany(andalsoitsdirectorsforthepurposesof companylaw)youareresponsible for
the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
```
```
HavingsatisfiedmyselfthattheaccountsoftheCompanyarenotrequiredtobeauditedunderPart16ofthe2006 Act
andareeligibleforindependentexamination,I reportinrespectofmyexaminationofyourcharity'saccountsas carried
outunderSection145oftheCharitiesAct2011('the2011Act').IncarryingoutmyexaminationIhavefollowed the
Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
```
## **`Independent examiner's statement`**
```
Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnectionwith 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 examinationto whichattention should
be drawn in this report in order to enable a proper understanding of the accounts to be reached.
```
```
J Palmer
```
```
The Association of Chartered Certified Accountants
```
```
Bright Brown Limited
Chartered Accountants
Newport
Isle of Wight
```
```
Date: .............................................
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Page 8
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SHANKLIN THEATRE AND COMMUNITY TRUST
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## **`STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023`**
|`Unrestricted`
`funds`
`Notes`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`2`
`18,864`
**`Charitable activities`**
`Preservation of Shanklin Theatre building`
`254`
`Investment income`
`3`
`22,800`
**`Total`**
`41,918`
**`EXPENDITURE ON`**
**`Charitable activities`**
`Preservation of Shanklin Theatre building`
`12,430`
**`NET INCOME`**
`29,488`
**`Transfers between funds`**
`14`
`(200)`
**`Net movement in funds`**
`29,288`
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
`496,884`
**`TOTAL FUNDS CARRIED FORWARD`**
`526,172`|`Restricted`
`funds`
`£`
`7,500`
`33,176`
`-`
`40,676`
`26,233`
`14,443`
`200`
`14,643`
`21,369`
`36,012`|`2023`
`Total`
`funds`
`£`
`26,364`
`33,430`
`22,800`
`82,594`
`38,663`
`43,931`
`-`
`43,931`
`518,253`
`562,184`|`2022`
`Total`
`funds`
`£`
`30,189`
`27,047`
`22,655`|
|---|---|---|---|
||||`79,891`|
||||`65,996`|
||||`13,895`
`-`|
||||`13,895`
`504,358`|
||||`518,253`|
```
The notes form part of these financial statements
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Page 9
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SHANKLIN THEATRE AND COMMUNITY TRUST
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## **`BALANCE SHEET`**
## **`31 MARCH 2023`**
|`Notes`
**`FIXED ASSETS`**
`Tangible assets`
`7`
`Investments`
`8`
**`CURRENT ASSETS`**
`Debtors`
`9`
`Cash at bank and in hand`
**`CREDITORS`**
`Amounts falling due within one year`
`10`
**`NET CURRENT ASSETS`**
**`TOTAL ASSETS LESS CURRENT LIABILITIES`**
**`CREDITORS`**
`Amounts falling due after more than one year`
`11`
**`NET ASSETS`**
**`FUNDS`**
`14`
`Unrestricted funds`
`Restricted funds`
**`TOTAL FUNDS`**|`Unrestricted`
`funds`
`£`
`502,270`
`3`
`502,273`
`-`
`114,787`
`114,787`
`(10,888)`
`103,899`
`606,172`
`(80,000)`
`526,172`|`Restricted`
`funds`
`£`
`-`
`-`
`-`
`-`
`36,012`
`36,012`
`-`
`36,012`
`36,012`
`-`
`36,012`|`2023`
`Total`
`funds`
`£`
`502,270`
`3`
`502,273`
`-`
`150,799`
`150,799`
`(10,888)`
`139,911`
`642,184`
`(80,000)`
`562,184`
`526,172`
`36,012`
`562,184`|`2022`
`Total`
`funds`
`£`
`401,685`
`3`|
|---|---|---|---|---|
|||||`401,688`
`3,306`
`114,099`|
|||||`117,405`
`(840)`|
|||||`116,565`|
|||||`518,253`
`-`|
|||||`518,253`|
|||||`496,884`
`21,369`|
|||||`518,253`|
```
ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct2006forthe year
ended 31 March 2023.
```
```
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended
31 March 2023 in accordance with Section 476 of the Companies Act 2006.
```
```
The notes form part of these financial statements
```
```
continued...
```
```
Page 10
```
```
SHANKLIN THEATRE AND COMMUNITY TRUST
```
## **`BALANCE SHEET - continued 31 MARCH 2023`**
```
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.`
```
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitable companies
subject to the small companies regime.
```
```
The financialstatementswere approvedby the Boardof Trusteesandauthorisedfor issueon .............................................
and were signed on its behalf by:
```
```
.............................................
```
```
C W Quirk - Trustee
```
```
.............................................
```
```
A C Wood - Trustee
```
```
The notes form part of these financial statements
```
```
Page 11
```
```
SHANKLIN THEATRE AND COMMUNITY TRUST
```
```
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
```
## **`1. ACCOUNTING POLICIES`**
## **`Basis of preparing the financial statements`**
```
Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicableto charitiespreparingtheir accountsin accordancewith the Financial Reporting
StandardapplicableintheUKandRepublicofIreland(FRS102)(effective1January2019)',Financial Reporting
Standard102'TheFinancialReportingStandardapplicableintheUKandRepublicofIreland'andthe Companies
Act 2006. The financialstatementshave been preparedunderthe historicalcost convention,with the exception of
investments which are included at market value.
```
## **`Income`**
```
All incomeis recognisedin the Statementof FinancialActivitiesonce the charityhas entitlementto the funds,it is
probable that the income will be received and the amount can be measured reliably.
```
## **`Expenditure`**
```
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredinsettlement and
the amountof the obligationcanbe measuredreliably.Expenditureis accountedforon an accrualsbasisand has
beenclassifiedunderheadingsthataggregateallcostrelatedtothecategory.Wherecostscannotbe directly
attributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwiththeuse of
resources.
```
## **`Tangible fixed assets`**
```
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
```
- `Plant and machinery - 20% on reducing balance`
```
Nodepreciationhasbeenprovidedonthetheatrebuildingsbecause,intheopinionofthedirectors,the charge
wouldbeimmaterialduetothelonglifeoftheassetandtherequirementtomaintainthelistedbuilding. The
directors carry out annual impairment reviews to ascertain whether a provision is necessary.
```
## **`Taxation`**
```
The charity is exempt from corporation tax on its charitable activities.
```
## **`Fund accounting`**
```
Unrestrictedfundscan be usedin accordancewiththe charitableobjectivesat the discretionof the trustees. The
trustees principal activity of the charity is to hold the theatre building in trust.
```
```
Restrictedfundscan onlybe usedfor particularrestrictedpurposeswithinthe objectsof the Charity. Restrictions
arise when specifiedby the donoror when fundsare raisedfor particularrestrictedpurposes.Further explanation
of the nature and purpose of each fund is included in the notes to the financial statements.
```
```
continued...
```
```
Page 12
```
```
SHANKLIN THEATRE AND COMMUNITY TRUST
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023`**
## **`2. DONATIONS AND LEGACIES`**
|`Unrestricted`
`Restricted`
`funds`
`funds`
`£`
`£`
`Donations`
`18,859`
`7,500`
`Gift aid`
`5`
`-`
`Grants`
`-`
`-`
`18,864`
`7,500`
**`INVESTMENT INCOME`**
`Unrestricted`
`Restricted`
`funds`
`funds`
`£`
`£`
`Rents received`
`22,647`
`-`
`Deposit account interest`
`153`
`-`
`22,800`
`-`|`2023`
`Total`
`funds`
`£`
`26,359`
`5`
`-`
`26,364`
`2023`
`Total`
`funds`
`£`
`22,647`
`153`
`22,800`|`2022`
`Total`
`funds`
`£`
`216`
`3,306`
`26,667`|
|---|---|---|
|||`30,189`|
|||`2022`
`Total`
`funds`
`£`
`22,647`
`8`|
|||`22,655`|
## **`3. INVESTMENT INCOME`**
## **`4. NET INCOME/(EXPENDITURE)`**
```
Net income/(expenditure) is stated after charging/(crediting):
```
||`2023`|`2022`|
|---|---|---|
||`£`|`£`|
|`Depreciation - owned assets`|`337`|`421`|
## **`5. TRUSTEES' REMUNERATION AND BENEFITS`**
```
There were no trustees'remunerationor otherbenefitsfor the year ended31 March2023 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.
```
```
continued...
```
```
Page 13
```
```
SHANKLIN THEATRE AND COMMUNITY TRUST
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023`**
|**`6.`**
**`COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`**
`Unrestricted`
`funds`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`30,189`
**`Charitable activities`**
`Preservation of Shanklin Theatre building`
`-`
`Investment income`
`22,655`
**`Total`**
`52,844`
**`EXPENDITURE ON`**
**`Charitable activities`**
`Preservation of Shanklin Theatre building`
`40,680`
**`NET INCOME`**
`12,164`
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
`484,720`
**`TOTAL FUNDS CARRIED FORWARD`**
`496,884`|`Restricted`
`funds`
`£`
`-`
`27,047`
`-`
`27,047`
`25,316`
`1,731`
`19,638`
`21,369`|`Total`
`funds`
`£`
`30,189`
`27,047`
`22,655`|
|---|---|---|
|||`79,891`|
|||`65,996`|
|||`13,895`
`504,358`|
|||`518,253`|
```
continued...
```
```
Page 14
```
```
SHANKLIN THEATRE AND COMMUNITY TRUST
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023`**
## **`7. TANGIBLE FIXED ASSETS`**
|**`COST`**
`At 1 April 2022`
`Additions`
`At 31 March 2023`
**`DEPRECIATION`**
`At 1 April 2022`
`Charge for year`
`At 31 March 2023`
**`NET BOOK VALUE`**
`At 31 March 2023`
`At 31 March 2022`
**`FIXED ASSET INVESTMENTS`**
**`MARKET VALUE`**
`At 1 April 2022 and 31 March 2023`
**`NET BOOK VALUE`**
`At 31 March 2023`
`At 31 March 2022`|`Freehold`
`property`
`£`
`400,000`
`100,922`
`500,922`
`-`
`-`
`-`
`500,922`
`400,000`|`Plant and`
`machinery`
`Totals`
`£`
`£`
`10,040`
`410,040`
`-`
`100,922`
`10,040`
`510,962`
`8,355`
`8,355`
`337`
`337`
`8,692`
`8,692`
`1,348`
`502,270`
`1,685`
`401,685`
`Shares in`
`group`
`undertakings`
`£`
`3`
`3`
`3`|
|---|---|---|
## **`8. FIXED ASSET INVESTMENTS`**
```
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 15
```
```
SHANKLIN THEATRE AND COMMUNITY TRUST
```
```
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023
```
## **`8. 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`
`Aggregate capital and reserves`
`Loss for the year`
**`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`
`(Loss)/profit for the year`
**`9.`**
**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Accrued income`|`2023`
`£`
`(52,730)`
`(28,182)`
`2023`
`£`
`23,760`
`(4,120)`
`2023`
`£`
`-`|`2022`
`£`
`(24,548)`
`(10,421)`
`2022`
`£`
`27,880`
`9,482`
`2022`
`£`
`3,306`|
|---|---|---|
```
continued...
```
```
Page 16
```
```
SHANKLIN THEATRE AND COMMUNITY TRUST
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023`**
|**`10.`**
**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Other loans (see note 12)`
`Accrued expenses`
**`11.`**
**`CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR`**
`Other loans (see note 12)`
**`12.`**
**`LOANS`**
`An analysis of the maturity of loans is given below:`
`Amounts falling due within one year on demand:`
`Other loans`
`Amounts falling between one and two years:`
`Other loans - 1-2 years`
`Amounts falling due between two and five years:`
`Other loans - 2-5 years`
`Amounts falling due in more than five years:`
`Repayable by instalments:`
`Other loans more 5yrs`|`2023`
`£`
`10,000`
`888`
`10,888`
`2023`
`£`
`80,000`
`2023`
`£`
`10,000`
`10,000`
`30,000`
`40,000`|`2022`
`£`
`-`
`840`|
|---|---|---|
|||`840`|
|||`2022`
`£`
`-`|
|||`2022`
`£`
`-`|
|||`-`|
|||`-`|
|||`-`|
```
continued...
```
```
Page 17
```
```
SHANKLIN THEATRE AND COMMUNITY TRUST
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023`**
## **`13. SECURED DEBTS`**
```
The following secured debts are included within creditors:
```
```
Other loans
```
|`2023`|`2022`||
|---|---|---|
|`£`|`£`||
|`90,000`||`-`|
```
TheIW Councilloanof £90,000(2022- Nil)is securedbya legalchargeoverthefreeholdpropertyownedby the
charity.
```
## **`14. MOVEMENT IN FUNDS`**
|**`Unrestricted funds`**
`General fund`
`Fixed asset fund`
`Window appeal fund (designated)`
**`Restricted funds`**
`Friends of Shanklin Theatre`
`Female toilet improvement fund`
**`TOTAL FUNDS`**|`Net`
`movement`
`At 1.4.22`
`in funds`
`£`
`£`
`94,186`
`29,825`
`401,688`
`(337)`
`1,010`
`-`
`496,884`
`29,488`
`21,369`
`6,943`
`-`
`7,500`
`21,369`
`14,443`
`518,253`
`43,931`|`Transfers`
`between`
`funds`
`£`
`(11,122)`
`10,922`
`-`
`(200)`
`-`
`200`
`200`
`-`|`At`
`31.3.23`
`£`
`112,889`
`412,273`
`1,010`|
|---|---|---|---|
||||`526,172`
`28,312`
`7,700`|
||||`36,012`|
||||`562,184`|
```
continued...
```
```
Page 18
```
```
SHANKLIN THEATRE AND COMMUNITY TRUST
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023`**
## **`14. MOVEMENT IN FUNDS - continued`**
```
Net movement in funds, included in the above are as follows:
```
||`Incoming`|`Resources`|`Movement`|
|---|---|---|---|
||`resources`|`expended`|`in funds`|
||`£`|`£`|`£`|
|**`Unrestricted funds`**||||
|`General fund`|`41,918`|`(12,093)`|`29,825`|
|`Fixed asset fund`|`-`|`(337)`|`(337)`|
||`41,918`|`(12,430)`|`29,488`|
|**`Restricted funds`**||||
|`Friends of Shanklin Theatre`|`33,176`|`(26,233)`|`6,943`|
|`Female toilet improvement fund`|`7,500`|`-`|`7,500`|
||`40,676`|`(26,233)`|`14,443`|
|**`TOTAL FUNDS`**|`82,594`|`(38,663)`|`43,931`|
## **`Comparatives for movement in funds`**
|**`Unrestricted funds`**
`General fund`
`Fixed asset fund`
`Window appeal fund (designated)`
**`Restricted funds`**
`Friends of Shanklin Theatre`
**`TOTAL FUNDS`**|`Net`
`movement`
`At 1.4.21`
`in funds`
`£`
`£`
`81,601`
`12,585`
`402,109`
`(421)`
`1,010`
`-`
`484,720`
`12,164`
`19,638`
`1,731`
`504,358`
`13,895`|`At`
`31.3.22`
`£`
`94,186`
`401,688`
`1,010`|
|---|---|---|
|||`496,884`
`21,369`|
|||`518,253`|
```
continued...
```
```
Page 19
```
```
SHANKLIN THEATRE AND COMMUNITY TRUST
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023`**
## **`14. MOVEMENT IN FUNDS - continued`**
```
Comparative net movement in funds, included in the above are as follows:
```
||`Incoming`|`Resources`|`Movement`|
|---|---|---|---|
||`resources`|`expended`|`in funds`|
||`£`|`£`|`£`|
|**`Unrestricted funds`**||||
|`General fund`|`52,844`|`(40,259)`|`12,585`|
|`Fixed asset fund`|`-`|`(421)`|`(421)`|
||`52,844`|`(40,680)`|`12,164`|
|**`Restricted funds`**||||
|`Friends of Shanklin Theatre`|`27,047`|`(25,316)`|`1,731`|
|**`TOTAL FUNDS`**|`79,891`|`(65,996)`|`13,895`|
## **`Window Appeal`**
```
The Trust are asking for donations to replace some of the windows in the Theatre.
```
## **`Transfers between funds`**
```
Theonlytransfersbetweenfundsduringtheyearisinrelationtotheseparationofunrestrictedfundswhich are
beingheldinthefixedassetsofthecharity.Thetrusteesbelievethiswillgiveamoretransparentpictureof the
Trust's financial position at the year end.
```
## **`15. RELATED PARTY DISCLOSURES`**
```
Duringtheyear,ShanklinTheatreandCommunityTrustmadedonationsof£1,530(2022-£20,775)to Shanklin
Theatre Limited,and £4,466 (2022 - £15,667)to ShanklinPerformingArts CIC, both of which are subsidiariesof the
charity.
```
```
Page 20
```
```
SHANKLIN THEATRE AND COMMUNITY TRUST
```
## **`DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023`**
||||`2023`|`2022`|
|---|---|---|---|---|
||`Unrestricted`|`Restricted`|`Total`|`Total`|
||`funds`|`funds`|`funds`|`funds`|
||`£`|`£`|`£`|`£`|
|**`INCOME AND ENDOWMENTS`**|||||
|**`Donations and legacies`**|||||
|`Donations`|`18,859`|`7,500`|`26,359`|`216`|
|`Gift aid`|`5`|`-`|`5`|`3,306`|
|`Grants`|`-`|`-`|`-`|`26,667`|
||`18,864`|`7,500`|`26,364`|`30,189`|
|**`Investment income`**|||||
|`Rents received`|`22,647`|`-`|`22,647`|`22,647`|
|`Deposit account interest`|`153`|`-`|`153`|`8`|
||`22,800`|`-`|`22,800`|`22,655`|
|**`Charitable activities`**|||||
|`Friends of Shanklin Theatre income`|`254`|`33,176`|`33,430`|`27,047`|
|**`Total incoming resources`**|`41,918`|`40,676`|`82,594`|`79,891`|
|**`EXPENDITURE`**|||||
|**`Charitable activities`**|||||
|`Insurance`|`1,377`|`-`|`1,377`|`1,274`|
|`Postage and stationery`|`117`|`-`|`117`|`134`|
|`Advertising`|`341`|`-`|`341`|`355`|
|`Sundries`|`116`|`-`|`116`|`237`|
|`Legal and professional fees`|`1,880`|`-`|`1,880`|`-`|
|`Software development`|`1,018`|`-`|`1,018`|`866`|
|`Donation to Shanklin Theatre Limited`|`1,530`|`-`|`1,530`|`20,775`|
|`Friends of Shanklin Theatre expenses`|`228`|`26,233`|`26,461`|`25,316`|
|`Donations to Shanklin Performing Arts CIC`|`4,466`|`-`|`4,466`|`15,667`|
|`Plant and machinery`|`337`|`-`|`337`|`421`|
||`11,410`|`26,233`|`37,643`|`65,045`|
|**`Support costs`**|||||
```
This page does not form part of the statutory financial statements
```
```
Page 21
```
```
SHANKLIN THEATRE AND COMMUNITY TRUST
```
## **`DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023`**
||||`2023`|`2022`|
|---|---|---|---|---|
||`Unrestricted`|`Restricted`|`Total`|`Total`|
||`funds`|`funds`|`funds`|`funds`|
||`£`|`£`|`£`|`£`|
|**`Support costs`**|||||
|**`Governance costs`**|||||
|`Accountancy and legal fees`|`1,020`|`-`|`1,020`|`951`|
|`Total resources expended`|`12,430`|`26,233`|`38,663`|`65,996`|
|**`Net income`**|`29,488`|`14,443`|`43,931`|`13,895`|
```
This page does not form part of the statutory financial statements
```
```
Page 22
```
```
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 2023`**
## **`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 2023`**
|||**`Page`**||
|---|---|---|---|
|**`Report of the Trustees`**|`1`|`to`|`7`|
|**`Independent Examiner's Report`**||`8`||
|**`Statement of Financial Activities`**||`9`||
|**`Balance Sheet`**|`10`|`to`|`11`|
|**`Notes to the Financial Statements`**|`12`|`to`|`20`|
|**`Detailed Statement of Financial Activities`**|`21`|`to`|`22`|
```
SHANKLIN THEATRE AND COMMUNITY TRUST
```
```
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2023
```
```
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheirreport with
thefinancialstatementsofthecharityfortheyearended31March2023.Thetrusteeshaveadoptedtheprovisions of
AccountingandReportingbyCharities:StatementofRecommendedPracticeapplicabletocharitiespreparing their
accountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS 102)
(effective 1 January 2019).
```
## **`OBJECTIVES AND ACTIVITIES`**
## **`Objectives and aims`**
```
ShanklinTheatreand CommunityTrust (the Trust)is a CompanyLimitedby Guaranteeand a RegisteredCharity.The Trust
ownsthefreeholdtoShanklinTheatreandShanklinPerformingArtsCentre,andisresponsibleforthepreservation of
ShanklinTheatre and the developmentof ShanklinPerformingArts Centre. The Trust has three subsidiarybodies, Shanklin
TheatreLimited(theTheatre),theFriendsofShanklinTheatre(FOST)andShanklinPerformingArtsCIC.Shanklin Theatre
Ltd operatesthe Theatreon a day-to-daybasis,and puts on a full programmeof bothprofessionalshows and Community
productions;FOST facilitatesmember of the Communityengagingwiththe Theatre,andits team of volunteersallows the
Theatretooperateasaviableentity.TheTrusthasoverallresponsibilityforthefabricofShanklinTheatre,although a
substantial amount of the maintenance and Improvement work is carried out by appropriately skilled FOST volunteers.
```
```
Page 1
```
```
SHANKLIN THEATRE AND COMMUNITY TRUST
```
```
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2023
```
## **`OBJECTIVES AND ACTIVITIES`**
## **`Review of activities`**
```
LikevirtuallyallperformingartsorganisationsintheUK, theoperationsof theTrustandShanklinTheatrewere impacted
dramaticallybytheCovid-19epidemic.However,withthefurloughschemeandArtsCouncilandGovernment grants
deliveredthroughtheLocalAuthoritytheorganisationweatheredthestormwithoutlayingoffstaff,andaudience levels
have gradually increased almost to pre-covid levels.
```
```
InadditiontotheTheatre,theTrustalsoownstheformerShanklinLibrarybuilding,operatingitasaPerforming Arts
Centre operatedthrougha CommunityInterestCompanyknownas ShanklinPerformingArts Centre CIC. The Trust aspires
todevelopthePerformingArtsCentretoincludeasmall106seatStudioTheatretogetherwithchangingroomsand a
foyer bar. The buildingwouldalso includedance studiosand rehearsalareas, and space to house a ShanklinMuseum. The
planshavegonethroughapre-applicationprocesswiththeLocalPlanningAuthoritywhohavereactedpositivelyto the
proposals,andhavebeenreviewedbytheTheatresTrust,statutoryconsultee,whoareverysupportiveof the proposals.
Realisationofthisdevelopmentis dependentuponraisingtherequiredfunds,buttodateduringpublicconsultation the
planshavebeenoverwhelminglysupportedbylocalTheatreGroups,localstageanddanceschools,thelocalMP and
Parliamentary candidates, the Island's Lord Lieutenant, and most importantly most local residents.
```
```
A PerformingArts Centreis alreadyoperatinga high-qualitydancestudio/rehearsalareain whatwas previouslythe main
hall of the Town Library.The Trust has installedan industrystandardsuspendedfloor with a carbonfibre reinforced dance
floorcovering,togetherwithfulllengthdancemirrors,ahigh-qualityuprightpiano,amusiccentreandtwo moveable
ballet barres.The electricalsystem of the buildinghas been upgraded,includingreplacingold fluorescentlightingwith LED
lightingtubesandtheinstallationofhigh-levelelectricfanheaters.Anewintruderalarmsysteminstalled,alongwith a
CCTVsystemwithremoteaccess.ThebuildingisregisteredwiththePPSandPRS,hasavalidEnergy Performance
Certificateand the Buildingand Liabilityinsuranceshave been revised to reflect the new use of the facility.The Performing
Arts Centre is in use every day of the week up to five sessions per day.
```
```
The Trustcontinuesto review andupdatethe HealthandSafetyManualandassociatedworkingpracticesand guidelines.
Thefixedelectricalequipmentandmainswiringisregularlyinspected,andallarecoveredbyappropriate safety
certificates.TheTheatrehasadequateinsurancecoverforthebuildings,employeeandvolunteerliabilityand public
liability.
```
```
Regardingthe operationof the buildingby ShanklinTheatreLtd,it shouldbe notedthatmost regionaltheatresand quite
afewmajormetropolitanvenues,requiresignificantgrantsfromtheArtsCouncilandtheirLocalAuthoritiesto sustain
themfinancially.Priorto thefundingmadeavailableinresponseto theCovid-19pandemic,neitherShanklinTheatre nor
the Trust have been in receipt of any grant fundingfrom these bodies in the last ten years. Prior to the COVID-19 crisis, the
Theatre made a positivecontributionbefore depreciationevery year since it was incorporated.The commercialsuccess of
ShanklinTheatrehasbeenachievedthroughamixofcateringforthetastesofthemarketandpayingcloseattention to
expenditureand cash flow. The Theatre controlsits staff costs by using a strongbody of volunteersbut ensures high levels
of professionalismby extensivetrainingof volunteersandby havinga corestaffof skilledindividualsto provide technical
competenceintermsofsound,lightingandstagemanagement,aswellasprofessionalmanagementofthe Theatre,
overseeingbookings,boxoffice,operatingsystems,financialcontrolandvolunteerco-ordination.TheTheatrehas five
members of salaried staff, and around 130 volunteers regularly working at the Theatre.
```
## **`Public benefit`**
```
All the activities of the Trust focus on delivering community benefit and are in accordance with the objects of the Trust.
```
```
The Trusteeshave compliedwith theirdutyto have due regardto the CharityCommission'spublicbenefitguidance when
exercising any powers or duties to which the guidance is relevant.
```
```
Page 2
```
```
SHANKLIN THEATRE AND COMMUNITY TRUST
```
```
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2023
```
## **`ACHIEVEMENT AND PERFORMANCE`**
## **`Achievements and performance of subsidiary company - Shanklin Theatre Limited`**
```
TheTheatrehasremainedfocusedoncontrollingitscosts,payingcloseattentiontoexpenditureandcashflow. We
continueto be supportedby a strongbodyof volunteersworkingin the majorityof our operationalareas, but also ensure
ourprofessionalismforperformersandaudiencealike,byourcoreemployeeteamofskilledindividuals.This team
providestechnicalcompetenceintermsofsound,lightingandstagemanagement,aswellasoverallmanagementof the
Theatre,itsfinancialcontrol,andvolunteerco-ordination.Currentlywe havejustfive membersof full-timesalaried staff,
and are supported by up to 100 unpaid volunteers regularly working at our Theatre.
```
```
Ourteamofskilledmaintenancevolunteerstooktheopportunityofcarryingoutanumberofmajor refurbishment
projectswhichwerenotpossibleduringanormaloperatingperiod.Thisincludedcompletingtherefurbishmentof our
dressing rooms, as well as creating additional toilet and shower facilities backstage.
```
```
DuringtheyearamajorcampaignwaslaunchedtoraisefundstoenablenewLadies'Toiletstobecreatedwithin the
Theatre.SupportwasreceivedfromtheTheatresTrust,ShanklinTownCouncil,theDaisyRichTrustandFriends of
ShanklinTheatre.The £26,000raisedwill enablethe projectto go aheadin the autumnwith completionhopefullyin time
for the Panto in December.
```
```
ShowsoperatedattheTheatreincluded:CraigRevelHorwood,AlMurray,ChrisRamsey,theUkrainianNational Opera,
specialinterestpresentationsbyJohnSuchetandMichaelPortillo,andmusicactssuchasLeoSayerandAlbertLee plus
somepopulartributeacts.Othersshowsincluded'HunchbackofNotreDame'and'GuysandDolls'bylocalgroup The
Island Savoyards. A Christmas Panto was also hosted at the Theatre operated by Spotlight IOW Ltd.
```
```
ShanklinTheatreremainsverymuchaCommunityHub,withresidentprofessionalTheatreCompany,SpotlightIOW Ltd,
operatingastageschoolandrunningregularmusicaltheatreshowsattheTheatre,inwhichtheirstudentstake part.
Duringthesummerof2022,Spotlightagainoperatedtheirannualsummershow''BeyondTheWestEnd"which, whilst
attendedbyourlocalcommunity,alsoattractstourists,particularlyvisitingcoachpartiesandindoingso, contributes
significantly to providing entertainment for the the Island's tourism.
```
```
TheTheatrealsohostedperformancesbyFirstAct2011,aTheatreGroupworkingwithphysicallyand mentally
compromisedpeopleofallages.ShanklinTheatrealsohostsmanycommunity-basedgroupsincluding:Theatretrain, the
IslandSavoyards,thePepperpotPlayersandVentnorTheatreGroup.TheTheatreisalsousedonoccasionsby Shanklin
TownCouncilforsomePublicMeetings.Inadditiontolocalgroups,ShanklinTheatreisthefocalpointofthe week-long
IsleofWightMusicandDanceFestivalandduringMarch2023,wasonceagainabletohostthisfestivalwhich attracts
participants from across the Island and beyond.
```
```
Page 3
```
```
SHANKLIN THEATRE AND COMMUNITY TRUST
```
```
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2023
```
## **`ACHIEVEMENT AND PERFORMANCE`**
## **`Achievement and performance of Friends of Shanklin Theatre`**
```
ThepurposeoftheFriendsofShanklinTheatre(FOST)istoencouragepublicsupportforShanklinTheatre, provide
volunteers for the day-to-day running of the Theatre and raise funds to benefit the Theatre.
```
```
FOST are an ever-increasing group of people from the Isle of Wight and beyond who have Shanklin Theatre at heart.
```
```
FOSTcurrentlyhaveover767members,and178oftheseserveonapanelofvolunteerswillingtobecalledupon if
required.OverhalfofthesevolunteersregularlyworkattheTheatre.FOSTalsohas124Patronsand11 Corporate
Sponsors who choose to pay an enhanced membership fee to help support the theatre.
```
## **`FOST Executive Committee`**
```
Asfrom1stJanuary2024,theannualmembershipsubscriptionswillbeincreasedto£15.00.Thelastchange to
subscriptionswasin2018,somefiveyearsago.A£3.00increaseperyearwillhelptoassistFOSTinitscontinuance of
donating funds to the theatre as it has done since FOST was created back in 2008.
```
```
FOSTwillcontinuetoprovidediscountedticketsonselectedshows,thequarterlynewsletter'StageWrite', priority
bookingswheneverpossibleforFOSTmembersto purchaseticketsinadvanceof thegeneralpublic,andautomatic entry
into the monthly members draw to win theatre vouchers.
```
```
TheFOSTExecutivecommitteeremainsas8memberswithspecificdefinedroles.TheViceChairmanrolehas been
removedand a new role of FOST Policyand Supporthas been createdas a supportrole to all committeemembers should
the need arise.
```
## **`Volunteer Training`**
```
The continuationof the volunteersInductionSessionsare provingto be invaluablefor our new volunteers,as this enables
eachvolunteertoviewandappreciatehowotherdepartmentsoperatewithinthetheatre.Thesamecanbesaid about
the regularTeam LeadersMeetings.These meetingsgive an opportunityfor volunteersto meet up anddiscusstheir roles
and ideas in an open forum.
```
```
Volunteertrainingsessionscontinueatpace,includingthefireandemergencyevacuationsessionsthatregularly take
place in the theatres' lower auditorium.
```
## **`FOST Fundraising and Funded Work`**
```
One of the remits of FOST is to raise money to benefitthe Theatre.Fundraisinggoes from strengthto strengthdespite the
riseinthecostofliving,thisisdueinlargeparttotheworkofourPrizeDrawTeamsellingprizedrawticketsat every
showinthetheatre.Additional,muchneededfundsarealsogeneratedthroughmembershipsubscriptions,the Coffee,
Cake and Chat mornings, raffles, souvenirs, curry evening and external donations.
```
```
Workingwith the theatre'sCommunityTrust,FOST now has its own charityregisteredeBay store where theatre souvenirs
and products can be purchased on-line generating additional funds for the theatre.
```
```
In2022,FOSTwaschosenasthecharityoftheyearfortheShanklinHotelandAccommodationAssociationwho have
continually supported the theatre over the years.
```
```
Currentlyfor this year, funds raised to date have amountedto over £31,000 and the Committee has agreed to fund or part
fund the following projects:
```
- `Replacement two-way Usherette & Usher radio's`
```
Page 4
```
```
SHANKLIN THEATRE AND COMMUNITY TRUST
```
## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023`**
## **`ACHIEVEMENT AND PERFORMANCE`**
- `Boom headsets (Usherette & Usher)`
- `Lockable spirits cabinet (Bar)`
- `Substantial contribution (two payments) to the renovation and extension of the Ladies' WC facilities at the lower Bar level`
- `Chauvet LED stage lighting`
- `New coffee machine (Bar)`
- `Gobo LED stage lighting`
```
Inadditiontotheabove,FOSThassetaside£10,000asacontingencyfundforanyfuturestagetechnical equipment
requirements and possible contribution to a new Box Office ticketing and FOST membership system.
```
## **`FOST Events and Community`**
```
Internalandexternaleventscontinueacrosstheyear,includingpromotionaleventssuchassummerfairs,fêtes and
carnivals.The popularCoffee,Cake andChatmorningsheldby FOST on the firstSaturdaymorningof every month except
forJanuary,attractguestspeakersandvisitingcommunitygroupsfromacrosstheIsland.Thisisachancetomeet and
greet "new friends" and tell them about the Theatre.
```
```
Workingin conjunctionwith the Island'sdestinationmanagementorganisation;Visit Isle of Wight Ltd, FOST contributes to
the bi-annual Isle of Wight Walking Festival by creating its own guided walks.
```
```
WorkingwiththeShanklinTheatremanagementteam,FOSThasstartedtoconductregularguidedtoursofthe theatre
that sell out very quickly. The ticket sales are managed through the Box Office booking system.
```
```
RecognitioneventsincludetheVolunteers,PatronsandCorporateSponsorThankYoueveningsandtheannual FOST
Garden Party.
```
```
Page 5
```
```
SHANKLIN THEATRE AND COMMUNITY TRUST
```
```
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2023
```
## **`ACHIEVEMENT AND PERFORMANCE`**
## **`Achievement and performance of Shanklin Performing Arts Centre CIC`**
```
ShanklinPerformingArtsCentreCICcontinuestoprovideavenueforcommunity-basedactivities.Theintentionis to
widen the scope of activitiesin the buildingto providea Centre to show the historyof the area, and to allow for display of
local visual arts.
```
```
ShanklinTheatreandCommunityTrust(the Trust),a Companylimitedby guaranteeanda RegisteredCharity, completed
the purchase of the freehold of the Performing Arts Centre building from the Isle of Wight Council on 9th May 2022.
```
```
ItistheintentionoftheTrusttotrytoraisefundsforamajorredevelopmentofthePerformingArtsCentreBuilding, in
closeliaisonwiththeBoardofthePerformingArtsCentreCIC.Afeasibilitystudyhasbeenmade,plansdrawnup by
LondonArchitects,HarveyWright,andpre-applicationadvicesoughtfromtheIOWPlanningDepartment.Following a
public consultation, a full planning application will be submitted towards the end of 2023.
```
## **`Objects of the organisation`**
```
The objects of the Company are to carry on activities which benefit the community and 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`**
```
In its third year of operationthe buildinghas been used by The Island Savoyards,VentnorTheatre Group, Curtain Creative,
theDanceVibezDanceSchool,JoelMorrisDanceAcademy,BurlesqueChairDanceCompany,DeeliteFitnessand Pilates
with Meg Groups, and Community Action Isle of Wight.
```
## **`Building improvements`**
```
Seven wall mirrorshave been fitted,and CCTV and Securitylights have been installed.Most of the equipmentinvolved can
be re-used if the intended major site refurbishment comes to fruition.
```
## **`FINANCIAL REVIEW`**
## **`Reserves policy`**
```
The Charity'spolicyis to holdas a minimumthe equivalentof 12 monthsoperatingcosts in free reserves for uncertainties
in futureincomeand providea contingencyfor unforeseencosts.When consideringreserves it is importantto appreciate
that the level of free operating reserves are lower due to amounts held in fixed assets.
```
## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`**
## **`Governing document`**
```
ShanklinTheatreand CommunityTrustis a charitablecompanylimitedby guarantee,incorporatedon 24 November 2010
andregisteredasacharity(no.1146834)on11April2012.ThecompanywasestablishedunderaMemorandum of
AssociationwhichsetsouttheobjectsandpowersofthecharitablecompanyandisgovernedunderitsArticles of
Association.
```
```
Page 6
```
```
SHANKLIN THEATRE AND COMMUNITY TRUST
```
## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023`**
## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`**
## **`Recruitment and appointment of new trustees`**
```
ThegoverningbodyofthecharityistheboardoftrusteesandtheyareappointedinaccordancewiththeArticles of
Association.
```
## **`REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number`**
```
07450494 (England and Wales)
```
```
Registered Charity number
1146834
```
```
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
D P Beeson
```
## **`Company Secretary`**
```
A C Wood
```
## **`Independent Examiner`**
```
Bright Brown Limited
Chartered Accountants
Exchange House
St. Cross Lane
Newport
Isle of Wight
PO30 5BZ
```
```
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
```
```
..........................................................................
C W Quirk - Trustee
```
```
Page 7
```
```
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')`**
```
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 thecharity'strusteesof theCompany(andalsoitsdirectorsforthepurposesof companylaw)youareresponsible for
the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
```
```
HavingsatisfiedmyselfthattheaccountsoftheCompanyarenotrequiredtobeauditedunderPart16ofthe2006 Act
andareeligibleforindependentexamination,I reportinrespectofmyexaminationofyourcharity'saccountsas carried
outunderSection145oftheCharitiesAct2011('the2011Act').IncarryingoutmyexaminationIhavefollowed the
Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
```
## **`Independent examiner's statement`**
```
Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnectionwith 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 examinationto whichattention should
be drawn in this report in order to enable a proper understanding of the accounts to be reached.
```
```
J Palmer
```
```
The Association of Chartered Certified Accountants
```
```
Bright Brown Limited
Chartered Accountants
Newport
Isle of Wight
```
```
Date: .............................................
```
```
Page 8
```
```
SHANKLIN THEATRE AND COMMUNITY TRUST
```
## **`STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023`**
|`Unrestricted`
`funds`
`Notes`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`2`
`18,864`
**`Charitable activities`**
`Preservation of Shanklin Theatre building`
`254`
`Investment income`
`3`
`22,800`
**`Total`**
`41,918`
**`EXPENDITURE ON`**
**`Charitable activities`**
`Preservation of Shanklin Theatre building`
`12,430`
**`NET INCOME`**
`29,488`
**`Transfers between funds`**
`14`
`(200)`
**`Net movement in funds`**
`29,288`
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
`496,884`
**`TOTAL FUNDS CARRIED FORWARD`**
`526,172`|`Restricted`
`funds`
`£`
`7,500`
`33,176`
`-`
`40,676`
`26,233`
`14,443`
`200`
`14,643`
`21,369`
`36,012`|`2023`
`Total`
`funds`
`£`
`26,364`
`33,430`
`22,800`
`82,594`
`38,663`
`43,931`
`-`
`43,931`
`518,253`
`562,184`|`2022`
`Total`
`funds`
`£`
`30,189`
`27,047`
`22,655`|
|---|---|---|---|
||||`79,891`|
||||`65,996`|
||||`13,895`
`-`|
||||`13,895`
`504,358`|
||||`518,253`|
```
The notes form part of these financial statements
```
```
Page 9
```
```
SHANKLIN THEATRE AND COMMUNITY TRUST
```
## **`BALANCE SHEET`**
## **`31 MARCH 2023`**
|`Notes`
**`FIXED ASSETS`**
`Tangible assets`
`7`
`Investments`
`8`
**`CURRENT ASSETS`**
`Debtors`
`9`
`Cash at bank and in hand`
**`CREDITORS`**
`Amounts falling due within one year`
`10`
**`NET CURRENT ASSETS`**
**`TOTAL ASSETS LESS CURRENT LIABILITIES`**
**`CREDITORS`**
`Amounts falling due after more than one year`
`11`
**`NET ASSETS`**
**`FUNDS`**
`14`
`Unrestricted funds`
`Restricted funds`
**`TOTAL FUNDS`**|`Unrestricted`
`funds`
`£`
`502,270`
`3`
`502,273`
`-`
`114,787`
`114,787`
`(10,888)`
`103,899`
`606,172`
`(80,000)`
`526,172`|`Restricted`
`funds`
`£`
`-`
`-`
`-`
`-`
`36,012`
`36,012`
`-`
`36,012`
`36,012`
`-`
`36,012`|`2023`
`Total`
`funds`
`£`
`502,270`
`3`
`502,273`
`-`
`150,799`
`150,799`
`(10,888)`
`139,911`
`642,184`
`(80,000)`
`562,184`
`526,172`
`36,012`
`562,184`|`2022`
`Total`
`funds`
`£`
`401,685`
`3`|
|---|---|---|---|---|
|||||`401,688`
`3,306`
`114,099`|
|||||`117,405`
`(840)`|
|||||`116,565`|
|||||`518,253`
`-`|
|||||`518,253`|
|||||`496,884`
`21,369`|
|||||`518,253`|
```
ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct2006forthe year
ended 31 March 2023.
```
```
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended
31 March 2023 in accordance with Section 476 of the Companies Act 2006.
```
```
The notes form part of these financial statements
```
```
continued...
```
```
Page 10
```
```
SHANKLIN THEATRE AND COMMUNITY TRUST
```
## **`BALANCE SHEET - continued 31 MARCH 2023`**
```
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.`
```
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitable companies
subject to the small companies regime.
```
```
The financialstatementswere approvedby the Boardof Trusteesandauthorisedfor issueon .............................................
and were signed on its behalf by:
```
```
.............................................
```
```
C W Quirk - Trustee
```
```
.............................................
```
```
A C Wood - Trustee
```
```
The notes form part of these financial statements
```
```
Page 11
```
```
SHANKLIN THEATRE AND COMMUNITY TRUST
```
```
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
```
## **`1. ACCOUNTING POLICIES`**
## **`Basis of preparing the financial statements`**
```
Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicableto charitiespreparingtheir accountsin accordancewith the Financial Reporting
StandardapplicableintheUKandRepublicofIreland(FRS102)(effective1January2019)',Financial Reporting
Standard102'TheFinancialReportingStandardapplicableintheUKandRepublicofIreland'andthe Companies
Act 2006. The financialstatementshave been preparedunderthe historicalcost convention,with the exception of
investments which are included at market value.
```
## **`Income`**
```
All incomeis recognisedin the Statementof FinancialActivitiesonce the charityhas entitlementto the funds,it is
probable that the income will be received and the amount can be measured reliably.
```
## **`Expenditure`**
```
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredinsettlement and
the amountof the obligationcanbe measuredreliably.Expenditureis accountedforon an accrualsbasisand has
beenclassifiedunderheadingsthataggregateallcostrelatedtothecategory.Wherecostscannotbe directly
attributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwiththeuse of
resources.
```
## **`Tangible fixed assets`**
```
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
```
- `Plant and machinery - 20% on reducing balance`
```
Nodepreciationhasbeenprovidedonthetheatrebuildingsbecause,intheopinionofthedirectors,the charge
wouldbeimmaterialduetothelonglifeoftheassetandtherequirementtomaintainthelistedbuilding. The
directors carry out annual impairment reviews to ascertain whether a provision is necessary.
```
## **`Taxation`**
```
The charity is exempt from corporation tax on its charitable activities.
```
## **`Fund accounting`**
```
Unrestrictedfundscan be usedin accordancewiththe charitableobjectivesat the discretionof the trustees. The
trustees principal activity of the charity is to hold the theatre building in trust.
```
```
Restrictedfundscan onlybe usedfor particularrestrictedpurposeswithinthe objectsof the Charity. Restrictions
arise when specifiedby the donoror when fundsare raisedfor particularrestrictedpurposes.Further explanation
of the nature and purpose of each fund is included in the notes to the financial statements.
```
```
continued...
```
```
Page 12
```
```
SHANKLIN THEATRE AND COMMUNITY TRUST
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023`**
## **`2. DONATIONS AND LEGACIES`**
|`Unrestricted`
`Restricted`
`funds`
`funds`
`£`
`£`
`Donations`
`18,859`
`7,500`
`Gift aid`
`5`
`-`
`Grants`
`-`
`-`
`18,864`
`7,500`
**`INVESTMENT INCOME`**
`Unrestricted`
`Restricted`
`funds`
`funds`
`£`
`£`
`Rents received`
`22,647`
`-`
`Deposit account interest`
`153`
`-`
`22,800`
`-`|`2023`
`Total`
`funds`
`£`
`26,359`
`5`
`-`
`26,364`
`2023`
`Total`
`funds`
`£`
`22,647`
`153`
`22,800`|`2022`
`Total`
`funds`
`£`
`216`
`3,306`
`26,667`|
|---|---|---|
|||`30,189`|
|||`2022`
`Total`
`funds`
`£`
`22,647`
`8`|
|||`22,655`|
## **`3. INVESTMENT INCOME`**
## **`4. NET INCOME/(EXPENDITURE)`**
```
Net income/(expenditure) is stated after charging/(crediting):
```
||`2023`|`2022`|
|---|---|---|
||`£`|`£`|
|`Depreciation - owned assets`|`337`|`421`|
## **`5. TRUSTEES' REMUNERATION AND BENEFITS`**
```
There were no trustees'remunerationor otherbenefitsfor the year ended31 March2023 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.
```
```
continued...
```
```
Page 13
```
```
SHANKLIN THEATRE AND COMMUNITY TRUST
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023`**
|**`6.`**
**`COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`**
`Unrestricted`
`funds`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`30,189`
**`Charitable activities`**
`Preservation of Shanklin Theatre building`
`-`
`Investment income`
`22,655`
**`Total`**
`52,844`
**`EXPENDITURE ON`**
**`Charitable activities`**
`Preservation of Shanklin Theatre building`
`40,680`
**`NET INCOME`**
`12,164`
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
`484,720`
**`TOTAL FUNDS CARRIED FORWARD`**
`496,884`|`Restricted`
`funds`
`£`
`-`
`27,047`
`-`
`27,047`
`25,316`
`1,731`
`19,638`
`21,369`|`Total`
`funds`
`£`
`30,189`
`27,047`
`22,655`|
|---|---|---|
|||`79,891`|
|||`65,996`|
|||`13,895`
`504,358`|
|||`518,253`|
```
continued...
```
```
Page 14
```
```
SHANKLIN THEATRE AND COMMUNITY TRUST
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023`**
## **`7. TANGIBLE FIXED ASSETS`**
|**`COST`**
`At 1 April 2022`
`Additions`
`At 31 March 2023`
**`DEPRECIATION`**
`At 1 April 2022`
`Charge for year`
`At 31 March 2023`
**`NET BOOK VALUE`**
`At 31 March 2023`
`At 31 March 2022`
**`FIXED ASSET INVESTMENTS`**
**`MARKET VALUE`**
`At 1 April 2022 and 31 March 2023`
**`NET BOOK VALUE`**
`At 31 March 2023`
`At 31 March 2022`|`Freehold`
`property`
`£`
`400,000`
`100,922`
`500,922`
`-`
`-`
`-`
`500,922`
`400,000`|`Plant and`
`machinery`
`Totals`
`£`
`£`
`10,040`
`410,040`
`-`
`100,922`
`10,040`
`510,962`
`8,355`
`8,355`
`337`
`337`
`8,692`
`8,692`
`1,348`
`502,270`
`1,685`
`401,685`
`Shares in`
`group`
`undertakings`
`£`
`3`
`3`
`3`|
|---|---|---|
## **`8. FIXED ASSET INVESTMENTS`**
```
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 15
```
```
SHANKLIN THEATRE AND COMMUNITY TRUST
```
```
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023
```
## **`8. 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`
`Aggregate capital and reserves`
`Loss for the year`
**`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`
`(Loss)/profit for the year`
**`9.`**
**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Accrued income`|`2023`
`£`
`(52,730)`
`(28,182)`
`2023`
`£`
`23,760`
`(4,120)`
`2023`
`£`
`-`|`2022`
`£`
`(24,548)`
`(10,421)`
`2022`
`£`
`27,880`
`9,482`
`2022`
`£`
`3,306`|
|---|---|---|
```
continued...
```
```
Page 16
```
```
SHANKLIN THEATRE AND COMMUNITY TRUST
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023`**
|**`10.`**
**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Other loans (see note 12)`
`Accrued expenses`
**`11.`**
**`CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR`**
`Other loans (see note 12)`
**`12.`**
**`LOANS`**
`An analysis of the maturity of loans is given below:`
`Amounts falling due within one year on demand:`
`Other loans`
`Amounts falling between one and two years:`
`Other loans - 1-2 years`
`Amounts falling due between two and five years:`
`Other loans - 2-5 years`
`Amounts falling due in more than five years:`
`Repayable by instalments:`
`Other loans more 5yrs`|`2023`
`£`
`10,000`
`888`
`10,888`
`2023`
`£`
`80,000`
`2023`
`£`
`10,000`
`10,000`
`30,000`
`40,000`|`2022`
`£`
`-`
`840`|
|---|---|---|
|||`840`|
|||`2022`
`£`
`-`|
|||`2022`
`£`
`-`|
|||`-`|
|||`-`|
|||`-`|
```
continued...
```
```
Page 17
```
```
SHANKLIN THEATRE AND COMMUNITY TRUST
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023`**
## **`13. SECURED DEBTS`**
```
The following secured debts are included within creditors:
```
```
Other loans
```
|`2023`|`2022`||
|---|---|---|
|`£`|`£`||
|`90,000`||`-`|
```
TheIW Councilloanof £90,000(2022- Nil)is securedbya legalchargeoverthefreeholdpropertyownedby the
charity.
```
## **`14. MOVEMENT IN FUNDS`**
|**`Unrestricted funds`**
`General fund`
`Fixed asset fund`
`Window appeal fund (designated)`
**`Restricted funds`**
`Friends of Shanklin Theatre`
`Female toilet improvement fund`
**`TOTAL FUNDS`**|`Net`
`movement`
`At 1.4.22`
`in funds`
`£`
`£`
`94,186`
`29,825`
`401,688`
`(337)`
`1,010`
`-`
`496,884`
`29,488`
`21,369`
`6,943`
`-`
`7,500`
`21,369`
`14,443`
`518,253`
`43,931`|`Transfers`
`between`
`funds`
`£`
`(11,122)`
`10,922`
`-`
`(200)`
`-`
`200`
`200`
`-`|`At`
`31.3.23`
`£`
`112,889`
`412,273`
`1,010`|
|---|---|---|---|
||||`526,172`
`28,312`
`7,700`|
||||`36,012`|
||||`562,184`|
```
continued...
```
```
Page 18
```
```
SHANKLIN THEATRE AND COMMUNITY TRUST
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023`**
## **`14. MOVEMENT IN FUNDS - continued`**
```
Net movement in funds, included in the above are as follows:
```
||`Incoming`|`Resources`|`Movement`|
|---|---|---|---|
||`resources`|`expended`|`in funds`|
||`£`|`£`|`£`|
|**`Unrestricted funds`**||||
|`General fund`|`41,918`|`(12,093)`|`29,825`|
|`Fixed asset fund`|`-`|`(337)`|`(337)`|
||`41,918`|`(12,430)`|`29,488`|
|**`Restricted funds`**||||
|`Friends of Shanklin Theatre`|`33,176`|`(26,233)`|`6,943`|
|`Female toilet improvement fund`|`7,500`|`-`|`7,500`|
||`40,676`|`(26,233)`|`14,443`|
|**`TOTAL FUNDS`**|`82,594`|`(38,663)`|`43,931`|
## **`Comparatives for movement in funds`**
|**`Unrestricted funds`**
`General fund`
`Fixed asset fund`
`Window appeal fund (designated)`
**`Restricted funds`**
`Friends of Shanklin Theatre`
**`TOTAL FUNDS`**|`Net`
`movement`
`At 1.4.21`
`in funds`
`£`
`£`
`81,601`
`12,585`
`402,109`
`(421)`
`1,010`
`-`
`484,720`
`12,164`
`19,638`
`1,731`
`504,358`
`13,895`|`At`
`31.3.22`
`£`
`94,186`
`401,688`
`1,010`|
|---|---|---|
|||`496,884`
`21,369`|
|||`518,253`|
```
continued...
```
```
Page 19
```
```
SHANKLIN THEATRE AND COMMUNITY TRUST
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023`**
## **`14. MOVEMENT IN FUNDS - continued`**
```
Comparative net movement in funds, included in the above are as follows:
```
||`Incoming`|`Resources`|`Movement`|
|---|---|---|---|
||`resources`|`expended`|`in funds`|
||`£`|`£`|`£`|
|**`Unrestricted funds`**||||
|`General fund`|`52,844`|`(40,259)`|`12,585`|
|`Fixed asset fund`|`-`|`(421)`|`(421)`|
||`52,844`|`(40,680)`|`12,164`|
|**`Restricted funds`**||||
|`Friends of Shanklin Theatre`|`27,047`|`(25,316)`|`1,731`|
|**`TOTAL FUNDS`**|`79,891`|`(65,996)`|`13,895`|
## **`Window Appeal`**
```
The Trust are asking for donations to replace some of the windows in the Theatre.
```
## **`Transfers between funds`**
```
Theonlytransfersbetweenfundsduringtheyearisinrelationtotheseparationofunrestrictedfundswhich are
beingheldinthefixedassetsofthecharity.Thetrusteesbelievethiswillgiveamoretransparentpictureof the
Trust's financial position at the year end.
```
## **`15. RELATED PARTY DISCLOSURES`**
```
Duringtheyear,ShanklinTheatreandCommunityTrustmadedonationsof£1,530(2022-£20,775)to Shanklin
Theatre Limited,and £4,466 (2022 - £15,667)to ShanklinPerformingArts CIC, both of which are subsidiariesof the
charity.
```
```
Page 20
```
```
SHANKLIN THEATRE AND COMMUNITY TRUST
```
## **`DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023`**
||||`2023`|`2022`|
|---|---|---|---|---|
||`Unrestricted`|`Restricted`|`Total`|`Total`|
||`funds`|`funds`|`funds`|`funds`|
||`£`|`£`|`£`|`£`|
|**`INCOME AND ENDOWMENTS`**|||||
|**`Donations and legacies`**|||||
|`Donations`|`18,859`|`7,500`|`26,359`|`216`|
|`Gift aid`|`5`|`-`|`5`|`3,306`|
|`Grants`|`-`|`-`|`-`|`26,667`|
||`18,864`|`7,500`|`26,364`|`30,189`|
|**`Investment income`**|||||
|`Rents received`|`22,647`|`-`|`22,647`|`22,647`|
|`Deposit account interest`|`153`|`-`|`153`|`8`|
||`22,800`|`-`|`22,800`|`22,655`|
|**`Charitable activities`**|||||
|`Friends of Shanklin Theatre income`|`254`|`33,176`|`33,430`|`27,047`|
|**`Total incoming resources`**|`41,918`|`40,676`|`82,594`|`79,891`|
|**`EXPENDITURE`**|||||
|**`Charitable activities`**|||||
|`Insurance`|`1,377`|`-`|`1,377`|`1,274`|
|`Postage and stationery`|`117`|`-`|`117`|`134`|
|`Advertising`|`341`|`-`|`341`|`355`|
|`Sundries`|`116`|`-`|`116`|`237`|
|`Legal and professional fees`|`1,880`|`-`|`1,880`|`-`|
|`Software development`|`1,018`|`-`|`1,018`|`866`|
|`Donation to Shanklin Theatre Limited`|`1,530`|`-`|`1,530`|`20,775`|
|`Friends of Shanklin Theatre expenses`|`228`|`26,233`|`26,461`|`25,316`|
|`Donations to Shanklin Performing Arts CIC`|`4,466`|`-`|`4,466`|`15,667`|
|`Plant and machinery`|`337`|`-`|`337`|`421`|
||`11,410`|`26,233`|`37,643`|`65,045`|
|**`Support costs`**|||||
```
This page does not form part of the statutory financial statements
```
```
Page 21
```
```
SHANKLIN THEATRE AND COMMUNITY TRUST
```
## **`DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023`**
||||`2023`|`2022`|
|---|---|---|---|---|
||`Unrestricted`|`Restricted`|`Total`|`Total`|
||`funds`|`funds`|`funds`|`funds`|
||`£`|`£`|`£`|`£`|
|**`Support costs`**|||||
|**`Governance costs`**|||||
|`Accountancy and legal fees`|`1,020`|`-`|`1,020`|`951`|
|`Total resources expended`|`12,430`|`26,233`|`38,663`|`65,996`|
|**`Net income`**|`29,488`|`14,443`|`43,931`|`13,895`|
```
This page does not form part of the statutory financial statements
```
```
Page 22
```