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← Shanklin Theatre And Community Trust

2024-03-31-accounts

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 2024

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FOR
SHANKLIN THEATRE AND COMMUNITY TRUST
09/10/24 10:58
DRAFT
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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 2024

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Page
Report of the Trustees 1 to 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9 to 10
Notes to the Financial Statements 11 to 18
Detailed Statement of Financial Activities 19
09/10/24 10:58
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SHANKLIN THEATRE AND COMMUNITY TRUST

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024

The trustees who are also directorsof the charityfor the purposes of the CompaniesAct 2006, present their report with
thefinancialstatementsof thecharityfor theyearended31 March2024.The trusteeshaveadoptedtheprovisions of
AccountingandReportingbyCharities:StatementofRecommendedPracticeapplicabletocharitiespreparing their
accountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS 102)
(effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

ShanklinTheatreandCommunityTrust(theTrust)isaCompanyLimitedbyGuaranteeandaRegisteredCharity. The
Trust owns the freehold to Shanklin Theatre and Shanklin Performing Arts Centre, and is responsible for the  preservation
ofShanklinTheatreandthedevelopmentofShanklinPerformingArtsCentre.TheTrusthasthreesubsidiary bodies,
ShanklinTheatreLimited(theTheatre),theFriendsofShanklinTheatre(FOST)andShanklinPerformingArts CIC.
ShanklinTheatre Limited operatesthe Theatre on a day-to-daybasis, and puts on a full programmeof both professional
shows and communityproductions;FOST facilitatesmembers of the communityengaging with the Theatre, and its  team
ofvolunteersallowstheTheatretooperateasaviableentity.TheTrusthasoverallresponsibilityforthefabric of
ShanklinTheatre,althoughasubstantialamountofthemaintenanceandimprovementworkiscarriedout by
appropriately skilled FOST volunteers.

ShanklinTheatre Limited operatesthe Theatre on a day-to-daybasis, and puts on a full programmeof both professional
shows and communityproductions;FOST facilitatesmembers of the communityengaging with the Theatre, and its  team
ofvolunteersallowstheTheatretooperateasaviableentity.TheTrusthasoverallresponsibilityforthefabric of
ShanklinTheatre,althoughasubstantialamountofthemaintenanceandimprovementworkiscarriedout by
appropriately skilled FOST volunteers.
Review of activities
InadditiontotheTheatre,theTrustalsoownstheformerShanklinLibrarybuilding,operatingitasaPerforming Arts
CentreoperatedthroughaCommunityInterestCompanyknownasShanklinPerformingArtsCentreCIC.The Trust
aspiresto developthe PerformingArts Centreto includea small 106 seat StudioTheatretogetherwith changing rooms
andafoyerbar.Thebuildingwouldalsoincludedancestudiosandrehearsalareas,andspacetohousea Shanklin
Museum.TheplanningpermissionhasbeengrantedandstructuralEngineerreportcommissioned.ABatsurvey has
foundnoevidenceofBatActivityinoraroundthebuilding,therefore,delaysduetorelocatingbatswillnot occur.
Realisationof this developmentis dependentupon raising the required funds, but to date during public consultation the
planshavebeenoverwhelminglysupportedbylocalTheatreGroups,localstageanddanceschools,thelocalMP, the
Island'sLordLieutenant,andmostimportantlymostlocalresidents.TheTheatresTrust,astatutoryConsultee for
theatres, strongly supports the proposal.
ThePerformingArtsCentreisalreadyoperatingahigh-qualitydancestudio/rehearsalareainwhatwaspreviously the
mainhalloftheTownLibrary.TheTrusthasinstalledanindustrystandardsuspendedfloorwithacarbon fibre
reinforceddance floor covering, together with full length dance mirrors, a high-qualityupright piano, a music centre  and
two moveable ballet barres. The electricalsystem of the buildinghas been upgraded,includingreplacingold fluorescent
lightingwithLEDlightingtubesandtheinstallationofhigh-levelelectricfanheaters.Anewintruderalarm system
installed,alongwithaCCTVsystemwithremoteaccess.ThebuildingisregisteredwiththePPSandPRS,hasa valid
EnergyPerformanceCertificateand 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.

InadditiontotheTheatre,theTrustalsoownstheformerShanklinLibrarybuilding,operatingitasaPerforming Arts
CentreoperatedthroughaCommunityInterestCompanyknownasShanklinPerformingArtsCentreCIC.The Trust
aspiresto developthe PerformingArts Centreto includea small 106 seat StudioTheatretogetherwith changing rooms
andafoyerbar.Thebuildingwouldalsoincludedancestudiosandrehearsalareas,andspacetohousea Shanklin
Museum.TheplanningpermissionhasbeengrantedandstructuralEngineerreportcommissioned.ABatsurvey has
foundnoevidenceofBatActivityinoraroundthebuilding,therefore,delaysduetorelocatingbatswillnot occur.
Realisationof this developmentis dependentupon raising the required funds, but to date during public consultation the
planshavebeenoverwhelminglysupportedbylocalTheatreGroups,localstageanddanceschools,thelocalMP, the
Island'sLordLieutenant,andmostimportantlymostlocalresidents.TheTheatresTrust,astatutoryConsultee for
theatres, strongly supports the proposal.

TheTrustcontinuestoreviewandupdatetheHealthandSafetyManualandassociatedworkingpractices and
guidelines.Thefixedelectricalequipmentandmainswiringisregularlyinspected,andallarecoveredby appropriate
safetycertificates.TheTheatrehasadequateinsurancecoverforthebuildings,employeeandvolunteerliability and
public liability.

Page 1

SHANKLIN THEATRE AND COMMUNITY TRUST

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024

OBJECTIVES AND ACTIVITIES

RegardingtheoperationofthebuildingbyShanklinTheatreLtd,itshouldbenotedthatmostregionaltheatres and
quiteafewmajormetropolitanvenues,requiresignificantgrantsfromtheArtsCouncilandtheirLocalAuthorities to
sustainthemfinancially.PriortothefundingmadeavailableinresponsetotheCovid-19pandemic,neither Shanklin
Theatrenor the Trusthavebeenin receiptof anygrantfundingfrom thesebodiesin the lastfifteenyears.Priorto the
COVID-19crisis, the Theatre made a positive contributionbefore depreciationevery year since it was incorporated. The
commercialsuccessofShanklinTheatrehasbeenachievedthroughamixofcateringforthetastesofthemarket and
payingcloseattentiontoexpenditureandcashflow.TheTheatrecontrolsitsstaffcostsbyusingastrongbody of
volunteersbutensureshighlevelsofprofessionalismbyextensivetrainingofvolunteersandbyhavingacorestaff of
skilledindividualstoprovidetechnicalcompetenceintermsofsound,lightingandstagemanagement,aswell as
professionalmanagementoftheTheatre,overseeingbookings,boxoffice,operatingsystems,financialcontrol and
volunteerco-ordination.The Theatre has five members of salariedstaff, and around 130 volunteersregularlyworking 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.
TheTrusteeshavecompliedwiththeirdutytohavedueregardtotheCharityCommission'spublicbenefit guidance
when exercising any powers or duties to which the guidance is relevant.
ACHIEVEMENT AND PERFORMANCE
Achievements and performance of subsidiary company - Shanklin Theatre Limited
The Theatreremainsfocusedon controllingits costs,payingclose attentionto expenditureand cash flow. We  continue
to be supportedbya strongbodyof volunteers,butto ensureourprofessionalismfor performersandaudiences alike,
alsohaveacoreemployeeteamofskilledindividuals.Currently,thisteamstandsat5full-timemembersof salaried
staff.ForproductionsattheTheatre,thisteamprovidestechnicalcompetenceintermsofsound,lightingand stage
management.AlongsideourTheatreManagement,theteamisalsoresponsibleforFinancialControl,Bookings and
AdministrationandourBoxOffice.Inturn,theyaresupportedbysome80activevolunteers,regularlyworkingin the
majority of our operational areas.
Followinga fundraisingcampaigncommencingin the previousfinancialyearto createadditionalfemaletoilet facilities,
financialsupportwassubsequentlyprovidedbyorganisationsandindividualsincluding;theTheatresTrust, Shanklin
TownCouncil,theDaisyRichTrustandFriendsofShanklinTheatre.Workonthisprojectthencommencedduring the
autumnof 2023,withthetoiletscompletedandinplaceatthestartof ournew TheatreseasoninFebruary2024. The
Theatreisextremelygratefulforthegeneroussupportprovidedbytheseorganisationsandthese much-needed
facilities,havebeenwell receivedby our audiences.Throughoutthe year,workalsocontinuedrepairing,renewing and
updating many facilities in the Theatre, all carried out by our team of skilled maintenance volunteers.

ShanklinTheatreisnowfirmlyestablishedontheregionaltheatrecircuitandshowsoperatedduringtheyear have
featured,FrancisRossi from StatusQuo, ComedianChris McCausland,David Suchet,The UkrainianNationalOpera, plus
groups such as Showaddywaddy,The Manfreds, together with a number of popular tribute acts. Other productions have
included:'ShrektheMusical'presentedbytheIslandSavoyards,and'PhantomoftheOpera''from Shoreline
Productions. A Christmas Panto 'Rapunzel', was also hosted at the Theatre, operated by Spotlight IOW Ltd.

Alongsideourprogrammeof shows,ShanklinTheatreremainsverymucha communityhub,withresident professional
TheatreCompany,SpotlightIOWLtd,operatingastageschoolandrunningregularmusicaltheatreshowsat the
Theatre,inwhichtheirstudentstakepart.Duringthesummerof2023,Spotlightagainoperatedtheirannual summer
show ''Beyondthe West End"which,whilstattendedby our localcommunity,alsoattractstourists,particularly visiting
coach parties and in doing so, contributes significantly to providing entertainment for the Island's tourism.

Page 2

SHANKLIN THEATRE AND COMMUNITY TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

Continuingthecommunitytheme,ourTheatrealsohostedperformancesbyFirstAct2011,aTheatreGroup working
with people who have physical and learning disabilities.ShanklinTheatre also hosted many local-basedgroups  including:
the IslandSavoyards,the PepperpotPlayers,andShorelineProductions(previouslyVentnorTheatreGroup). Alongside,
we have groups such as Island based, Curtain Call Creative,who provide performingarts trainingto 7 -19-year-olds, who
also put on some of their productionsat our Theatre. In additionto these local groups, ShanklinTheatre is also the focal
pointoftheIsleofWightMusicandDanceFestivalandduringMarch2024,onceagainwasabletohostthis Festival,
attracting participants from across the Island as well as the mainland.

Lookingaheadto2024/25,we havea fullprogrammeof shows,attractinga numberof new performers,including Will
Young,JackDeeandFrankSkinnerandarealreadybookingproductionsfor2026.Duringthefirstpartof2024, work
alsocommencedondevelopinganewbookingsystemfortheTheatre,withTicketsolve,aleadingticketing company
specialisingin Arts and Culture organisations.Alongside this work, we are also building a new mobile-friendlywebsite for
theTheatre.Bothofthesedevelopmentsreflectthegrowinguseofon-linebookingforourshowsandthese new
systems will be in place during the first quarter of the new financial year.

systems will be in place during the first quarter of the new financial year.
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.
FOSTis anincreasinggroupof peoplefromtheIsleof Wightandbeyondwho haveShanklinTheatre'sbestinterests at
heart.
FOST currentlyhas over 820 members, 170 of whom serve on a panel of volunteerswilling to be called upon if  required.
Over half of these volunteersregularlywork at the Theatre. The overall FOST membership also includes 133 Patrons and
13 Corporate Sponsors who choose to pay an enhanced membership fee to help support the Theatre.
As a result of the new ticketingsystem soon to be introducedby the Theatre,it is anticipatedthat new members will be
able to join FOST online and that FOST members will be able to buy discounted tickets online.
FOST Executive Committee
FOSTmemberscontinuetoreceivediscountedticketsonselectedshows,aquarterlynewsletter'StageWrite', priority
bookingswheneverpossible,whichmeansthatFOSTmemberscanpurchaseticketsinadvanceofthegeneral public,
and automatic entry into the monthly members' draw to win theatre vouchers.

ThepurposeoftheFriendsofShanklinTheatre(FOST)istoencouragepublicsupportforShanklinTheatre, provide
volunteers for the day-to-day running of the Theatre and raise funds to benefit the Theatre.

FOSTis anincreasinggroupof peoplefromtheIsleof Wightandbeyondwho haveShanklinTheatre'sbestinterests at
heart.

FOST currentlyhas over 820 members, 170 of whom serve on a panel of volunteerswilling to be called upon if  required.
Over half of these volunteersregularlywork at the Theatre. The overall FOST membership also includes 133 Patrons and
13 Corporate Sponsors who choose to pay an enhanced membership fee to help support the Theatre.

As a result of the new ticketingsystem soon to be introducedby the Theatre,it is anticipatedthat new members will be
able to join FOST online and that FOST members will be able to buy discounted tickets online.

TheFOSTExecutivecommitteeremainsas8 memberswithspecificdefinedroles.A newChairman,PaulHarris,will be
appointed to the role at the May 2024 AGM.

Volunteer Training

TheVolunteerInductionSessionscontinuetobeinvaluableforournewrecruits,astheyenableeachvolunteer to
understandand appreciatehow other departmentsoperateand the contributioneach makes to the Theatre.The same
appliesto the regular Team Leaders Meetings that give an opportunityfor team representativesto meet up and discuss
their roles, issues and suggestions in an open forum.

Volunteertrainingsessionscontinueatpace,includingthefireandemergencyevacuationsessionsthatregularly take
place in the Theatre's lower auditorium.

FOST Funded Work and Fundraising

One of the remits of FOST is to raise money to benefit the Theatre.

Page 3

SHANKLIN THEATRE AND COMMUNITY TRUST

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024

ACHIEVEMENT AND PERFORMANCE

Fundraisingcontinuesto be strong,despite the rise in the cost of living. This is due in large part to the work of our Prize
DrawTeamwho sell prizedrawticketsateveryshowin theTheatreandatmanyeventsaroundtheIsland. Additional,
muchneededfundsarealsogeneratedthroughmembershipsubscriptions,the"Coffee,CakeandChat" mornings,
raffles,souvenirs,curryeveningandexternaldonations.SignificantfundsarealsonowbeingraisedviaTheatre tours
and online eBay sales.

For the year to 31 March 2024, funds raised amounted to over £41,000 and the Committee has been pleased to agree to
fund or partially fund the following projects:

 - Renovation of ladies' toilets
In addition to the above, FOST has set aside £5,000 as a contingency fund for additional technical requirements.
FOST Events and Community Involvement
Internalandexternaleventscontinuethroughouttheyear,includingpromotionaleventssuchassummerfairs, fetes
andcarnivals.Thepopular"Coffee,CakeandChat"morningsheldbyFOSTonthefirstSaturdaymorningof every
month,exceptforJanuaryandAugust,attractguestspeakersandvisitingcommunitygroupsfromacrossthe Island.
TheseeventsprovideanopportunitytorecruitnewvolunteersandadvertisetheTheatretothewider Island
community.
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,FOSTconductregularguidedtoursoftheTheatrethat usually
selloutquickly.Wearecurrentlylookingtointroduceaspecific"childfriendly"version.Ticketsalesfortours are
managed through the Box Office booking system.
Recognition events include the Volunteers' and Patrons' Thank You evenings and the annual FOST Garden Party.
Achievement and performance of Shanklin Performing Arts Centre CIC

WorkingwiththeShanklinTheatremanagementteam,FOSTconductregularguidedtoursoftheTheatrethat usually
selloutquickly.Wearecurrentlylookingtointroduceaspecific"childfriendly"version.Ticketsalesfortours are
managed through the Box Office booking system.

ShanklinPerformingArts CentreCIC continuesto providea venue for community-basedactivities.The Projecthas been
a tremendoussuccesswith the facilitiesbeing used every day of the week, and several differentsessionsa day on most
days. Currently, demand to use the facility far outstrips supply of available time slots.

ItistheintentionofShanklinTheatre&CommunityTrusttotrytoraisefundsforamajorredevelopmentof the
PerformingArtsCentreBuilding,incloseliaisonwiththeBoardofthePerformingArtsCentreCIC,toinclude widening
the scope of activitiesin the building to provide a Centre to show the history of the area, and to allow for display of local
visual arts.

Afeasibilitystudywasmade,plansdrawnupbyLondonArchitects,HarveyWright,andsubmittedtoIsleof Wight
Council for planning permission in December 2023. A decision is due to be made in May 2024.

Thefullsetofplansoftheproposednewfacility,togetherwiththeartist'simpressionsofthebuilding,were made
available for public inspection at the Performing Arts Centre on 22nd September 2023 and 19th November 2023.

This is greatnews for the ArtsandShanklinTown,andrepresentsalmosttwo anda halfyearsof workliaisingwith the
IW Council planning officers, our architect, our residents and industry bodies to achieve this.

Page 4

SHANKLIN THEATRE AND COMMUNITY TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

ACHIEVEMENT AND PERFORMANCE

Objects of the organisation

The objects of the Company are to carry on activities which benefit the community and in particular (without limitation):

Progress to date with users

In its fourth year of operationthe building has been used by Shoreline Productions,Horse Box Theatre, Curtain Creative,
the Dance Vibez Dance School, Joel Morris Dance Academy,Burlesque Chair Dance Company,Deelite Fitness and Pilates
with Meg Groups, Chantal Ballet Body and Community Action Isle of Wight.

FINANCIAL REVIEW

Financial position

Totalincomefortheyearamountedto£211,570(2023-£82,594).Thetotalcostofcharitableactivitiesamounted to
£134,265(2023- £38,663).The net surplusfor the year amountedto £77,305(2023- £43,931).Unrestrictedfunds and
restrictedfundscarriedforwardattheendoftheyearamountedto£608,881and£30,608respectively(2023 -
£526,172 and £36,012).

Unrestricted funds

At the end of the year,£422,003(2023- £412,273)was designatedto the fixedassetsfundand£1,010(2023- £1,010)
wasdesignatedtothewindowappealfund.Theremainingbalanceof£185,868(2023-£112,889)isheldas free
reserves.

Reserves policy

TheCharity'spolicyistoholdasaminimumtheequivalentof12monthsoperatingcostsinfreereserves for
uncertaintiesinfutureincomeandprovideacontingencyforunforeseencosts.Whenconsideringreservesit is
important to appreciate that the level of free operating reserves are lower due to amounts held in fixed assets.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

ShanklinTheatreandCommunityTrustisacharitablecompanylimitedbyguarantee,incorporatedon24 November
2010 and registered as a charity (no. 1146834)on 11 April 2012. The company was establishedunder a Memorandum of
AssociationwhichsetsouttheobjectsandpowersofthecharitablecompanyandisgovernedunderitsArticles of
Association.

Recruitment and appointment of new trustees

ThegoverningbodyofthecharityistheboardoftrusteesandtheyareappointedinaccordancewiththeArticles of
Association.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

07450494 (England and Wales)

Page 5

SHANKLIN THEATRE AND COMMUNITY TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

Registered Charity number
1146834

Registered office

Steephill Road
Shanklin
Isle of Wight
PO37 6AJ

Trustees

C W Quirk
A C Wood (deceased 3.10.24)
S J Beston
M T F Beston
C D Harvey
T S Harvey
M Dawson
S McIntosh
D P Beeson

M T F Beston
C D Harvey
T S Harvey
M Dawson
S McIntosh
D P Beeson
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 6

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 2024.

Responsibilities and basis of report

As the charity'strustees of the Company (and also its directors for the purposes of company law) you are responsible for
the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Havingsatisfiedmyselfthatthe accountsof the Companyare not requiredto be auditedunderPart16 of the 2006 Act
and are eligible for independentexamination,I report in respect of my examinationof your charity'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)). 

Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhich attention
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 7

SHANKLIN THEATRE AND COMMUNITY TRUST

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024

DRAFT
09/10/24 10:58
Unrestricted
Restricted
funds
funds
Notes
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
126,645
18,300
Charitable activities
Preservation of Shanklin Theatre building
1,084
41,244
Investment income
3
24,297
-
Total
152,026
59,544
EXPENDITURE ON
Charitable activities
Preservation of Shanklin Theatre building
20,538
64,948
Development of Shanklin Performing Arts Centre
48,779
-
Total
69,317
64,948
NET INCOME/(EXPENDITURE)
82,709
(5,404)
RECONCILIATION OF FUNDS
Total funds brought forward
526,172
36,012
TOTAL FUNDS CARRIED FORWARD
608,881
30,608		 2024
Total
funds
£
144,945
42,328
24,297
211,570
85,486
48,779
134,265
77,305
562,184
639,489		 2023
Total
funds
£
26,364
33,430
22,800
82,594
38,663
-
38,663
43,931
518,253
562,184 
The notes form part of these financial statements

Page 8

SHANKLIN THEATRE AND COMMUNITY TRUST

BALANCE SHEET 31 MARCH 2024

DR
Notes
FIXED ASSETS
Tangible assets
7
Investments
8
CURRENT ASSETS
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
9
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS
Amounts falling due after more than one year
10
NET ASSETS
FUNDS
13
Unrestricted funds
Restricted funds
TOTAL FUNDS
 AF
09/10/2
Unrestricted
funds
£
502,000
3
502,003
187,838
(10,960)
176,878
678,881
(70,000)
608,881
 T
4 10:58
Restricted
funds
£
-
-
-
30,608
-
30,608
30,608
-
30,608
 2024
Total
funds
£
502,000
3
502,003
218,446
(10,960)
207,486
709,489
(70,000)
639,489
608,881
30,608
639,489
 2023
Total
funds
£
502,270
3
502,273
150,799
(10,888)
139,911
642,184
(80,000)
562,184
526,172
36,012
562,184 
The charitablecompanyis entitledto exemptionfrom auditunderSection477of the CompaniesAct2006for the year
ended 31 March 2024.

Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended
31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

Page 9

SHANKLIN THEATRE AND COMMUNITY TRUST

BALANCE SHEET - continued 31 MARCH 2024

Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitable companies
subject to the small companies regime.

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

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

The notes form part of these financial statements

Page 10

SHANKLIN THEATRE AND COMMUNITY TRUST

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

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS102,have been
preparedin accordancewith the CharitiesSORP(FRS 102)'AccountingandReportingby Charities:Statement of
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
ReportingStandardapplicableintheUKandRepublicofIreland(FRS102)(effective1 January2019)', Financial
ReportingStandard102'TheFinancialReportingStandardapplicablein theUK andRepublicof Ireland'and the
Companies Act 2006. The financialstatementshave been prepared under the 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
charityto that expenditure,it is probablethat a transferof economicbenefitswill be requiredin settlement and
the amount of the obligationcan be measured reliably. Expenditureis accountedfor on an accruals basis and  has
beenclassifiedunderheadingsthataggregateallcostrelatedtothecategory.Wherecostscannotbe directly
attributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwiththeuse of
resources.

Tangible fixed assets

Depreciationisprovidedatthefollowingannualratesinordertowriteoffeachassetoveritsestimated useful
life.

Plant and machinery- 20% on reducing balance

No depreciationhas been providedon the theatrebuildingsbecause,in the opinionof the directors,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

Unrestrictedfundscanbeusedinaccordancewiththecharitableobjectivesatthediscretionofthetrustees .
The trustees principal activity of the charity is to hold the theatre building in trust.

Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe Charity.
Restrictionsarisewhenspecifiedbythedonororwhenfundsareraisedforparticularrestricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

continued...

Page 11

SHANKLIN THEATRE AND COMMUNITY TRUST

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

2. DONATIONS AND LEGACIES

DRAFT
09/10/24 10:58
Unrestricted
Restricted
funds
funds
£
£
Donations
7,148
800
Gift aid
3,640
-
Legacies
115,857
-
Grants
-
17,500
126,645
18,300
3.
INVESTMENT INCOME
Unrestricted
Restricted
funds
funds
£
£
Rents received
22,647
-
Deposit account interest
1,650
-
24,297
-
4.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets
5.
TRUSTEES' REMUNERATION AND BENEFITS		 2024
Total
funds
£
7,948
3,640
115,857
17,500
144,945
2024
Total
funds
£
22,647
1,650
24,297
2024
£
270		 2023
Total
funds
£
9,349
5
17,010
-		 2023
Total
funds
£
9,349
5
17,010
-
26,364
2023
Total
funds
£
22,647
153
22,800
2023
£
337		 
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2024norforthe year
ended 31 March 2023.

Trustees' expenses

Therewerenotrustees'expensespaidfortheyearended31March2024norfortheyear ended
31 March 2023.

continued...

Page 12

SHANKLIN THEATRE AND COMMUNITY TRUST

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

DRAFT
09/10/24 10:58
6.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
18,864
Charitable activities
Preservation of Shanklin Theatre building
254
Investment income
22,800
Total
41,918
EXPENDITURE ON
Charitable activities
Preservation of Shanklin Theatre building
12,430
NET INCOME
29,488
Transfers between funds
(200)
Net movement in funds
29,288
RECONCILIATION OF FUNDS
Total funds brought forward
496,884
TOTAL FUNDS CARRIED FORWARD
526,172
7.
TANGIBLE FIXED ASSETS
Freehold
property
£
COST
At 1 April 2023 and 31 March 2024
500,922
DEPRECIATION
At 1 April 2023
-
Charge for year
-
At 31 March 2024
-
NET BOOK VALUE
At 31 March 2024
500,922
At 31 March 2023
500,922		 Restricted
funds
£
7,500
33,176
-
40,676
26,233
14,443
200
14,643
21,369
36,012
Plant and
machinery
£
10,040
8,692
270
8,962
1,078
1,348		 Total
funds
£
26,364
33,430
22,800
82,594
38,663
43,931
-
43,931
518,253
562,184
Totals
£
510,962
8,692
270
8,962
502,000
502,270		 Total
funds
£
26,364
33,430
22,800
82,594
38,663
43,931
-
43,931
518,253
562,184 
continued...

Page 13

SHANKLIN THEATRE AND COMMUNITY TRUST

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

8. FIXED ASSET INVESTMENTS

==> picture [456 x 469] intentionally omitted <==

----- Start of picture text -----
Shares in
group
undertakings
£
MARKET VALUE
At 1 April 2023 and 31 March 2024 3
NET BOOK VALUE
At 31 March 2024 3
At 31 March 2023 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:
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
2024 2023
£ £
Aggregate capital and reserves (480) (52,730)
Profit/(loss) for the year 52,250 (28,182)
Shanklin 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
2024 2023
£ £
Aggregate capital and reserves 24,982 23,760
Profit/(loss) for the year 1,222 (4,120)
09/10/24 10:58
DRAFT
----- End of picture text -----

continued...

Page 14

SHANKLIN THEATRE AND COMMUNITY TRUST

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

DRAFT
09/10/24 10:58
9.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other loans (see note 11)
Accrued expenses
10.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Other loans (see note 11)
11.
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
12.
SECURED DEBTS
The following secured debts are included within creditors:
Other loans		 2024
£
10,000
960
10,960
2024
£
70,000
2024
£
10,000
10,000
30,000
30,000
2024
£
80,000		 2023
£
10,000
888
10,888
2023
£
80,000
2023
£
10,000
10,000
30,000
40,000
2023
£
90,000		 
The IW Councilloanof £80,000(2023- £90,000)is securedby a legalchargeover the freeholdproperty owned
by the charity.

continued...

Page 15

SHANKLIN THEATRE AND COMMUNITY TRUST

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

13. MOVEMENT IN FUNDS

DR
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 in funds, included in the above are a
Unrestricted funds
General fund
Fixed asset fund
Restricted funds
Friends of Shanklin Theatre
Female toilet improvement fund
TOTAL FUNDS		 AFT
09/10/24 10:58
Net
movement
At 1.4.23
in funds
£
£
112,889
82,979
412,273
(270)
1,010
-
526,172
82,709
28,312
2,296
7,700
(7,700)
36,012
(5,404)
562,184
77,305
s follows:
Incoming
resources
£
152,026
-
152,026
41,244
18,300
59,544
211,570		 Transfers
between
At
funds
31.3.24
£
£
(10,000)
185,868
10,000
422,003
-
1,010
-
608,881
-
30,608
-
-
-
30,608
-
639,489
Resources
Movement
expended
in funds
£
£
(69,047)
82,979
(270)
(270)
(69,317)
82,709
(38,948)
2,296
(26,000)
(7,700)
(64,948)
(5,404)
(134,265)
77,305		 
continued...

Page 16

SHANKLIN THEATRE AND COMMUNITY TRUST

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

13. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

DRAFT
09/10/24 10:58
Net
movement
At 1.4.22
in funds
£
£
Unrestricted funds
General fund
94,186
29,825
Fixed asset fund
401,688
(337)
Window appeal fund (designated)
1,010
-
496,884
29,488
Restricted funds
Friends of Shanklin Theatre
21,369
6,943
Female toilet improvement fund
-
7,500
21,369
14,443
TOTAL FUNDS
518,253
43,931
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
41,918
Fixed asset fund
-
41,918
Restricted funds
Friends of Shanklin Theatre
33,176
Female toilet improvement fund
7,500
40,676
TOTAL FUNDS
82,594		 Transfers
between
At
funds
31.3.23
£
£
(11,122)
112,889
10,922
412,273
-
1,010
(200)
526,172
-
28,312
200
7,700
200
36,012
-
562,184
Resources
Movement
expended
in funds
£
£
(12,093)
29,825
(337)
(337)
(12,430)
29,488
(26,233)
6,943
-
7,500
(26,233)
14,443
(38,663)
43,931

Window Appeal

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

Transfers between funds

The only transfersbetween funds during the year is in relationto the separationof unrestrictedfunds which are
being held in the fixed assetsof the charity.The trusteesbelievethis will give a more transparentpictureof the
Trust's financial position at the year end.

continued...

Page 17

SHANKLIN THEATRE AND COMMUNITY TRUST

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

14. RELATED PARTY DISCLOSURES

Duringthe year,ShanklinTheatreandCommunityTrustmade donationsof £39,999(2023- £1,530)to Shanklin
TheatreLimited,and£48,779(2023- £4,466)to ShanklinPerformingArtsCIC,bothof whicharesubsidiaries of
the charity.

Page 18

SHANKLIN THEATRE AND COMMUNITY TRUST

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

DRAFT
09/10/24 10:58
Unrestricted
Restricted
funds
funds
£
£
INCOME AND ENDOWMENTS
Donations and legacies
Donations
7,148
800
Gift aid
3,640
-
Legacies
115,857
-
Grants
-
17,500
126,645
18,300
Investment income
Rents received
22,647
-
Deposit account interest
1,650
-
24,297
-
Charitable activities
Friends of Shanklin Theatre income
1,084
41,244
Total incoming resources
152,026
59,544
EXPENDITURE
Charitable activities
Insurance
1,549
-
Postage and stationery
118
-
Advertising
234
-
Sundries
496
-
Legal and professional fees
-
-
Software development
1,239
-
Donation to Shanklin Theatre Limited
13,999
26,000
Friends of Shanklin Theatre expenses
1,511
38,948
Donations to Shanklin Performing Arts CIC
48,779
-
Plant and machinery
270
-
68,195
64,948
Support costs
Governance costs
Accountancy and legal fees
1,122
-
Total resources expended
69,317
64,948
Net income
82,709
(5,404)		 2024
Total
funds
£
7,948
3,640
115,857
17,500
144,945
22,647
1,650
24,297
42,328
211,570
1,549
118
234
496
-
1,239
39,999
40,459
48,779
270
133,143
1,122
134,265
77,305		 2023
Total
funds
£
9,349
5
17,010
-
26,364
22,647
153
22,800
33,430
82,594
1,377
117
341
116
1,880
1,018
1,530
26,461
4,466
337
37,643
1,020
38,663
43,931 
This page does not form part of the statutory financial statements

Page 19