REGisf£RED COMPANY NUMBER: 07450494 (England and Wales) REGISTERED CHARITY NUMBER: 1146834 REPORT OF THE TRUSTEES AND UNAUDITED FINANaAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 SHANKUN THEATRE AND COMMUNITY TRusr Bright Brown knmited Chartered Accountsnts Exchange House St. Cross Lane Newport Isle of Wight P030 5BZ
SHANKLIN THEATRE AND COMMUNITY TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Report of the Trustees Independent Examinees Report Statement of Financial Activities Balance Sheet Notes to the Flnancial Statements 10 to 17 Detailed Statement of Financial Activitses 18 to 19
SHANKLIN THEATRE AND COMMUN TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 The trustees who are also directors of the charity for the purpose5 of the Companies Act 2006, present their report with the financial ststements of the charity for the year ended 31 March 2025. The trustee5 have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Prartice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FR5 1021 leffettive l January 20191. OBJEcnvES AND ACTIVITIES Objectives and aims Shanklin Theatre and Community Trust (the Trust) is a Company Limrted by Guarantee and a Registered Charity- The Trust own5 the freehold to Shanklin Theatre and Shanklin Performing Arts Centre. and is responsible for the preservation of Shanklin Theatre and the development of Shanklin Perfomiing Arts Centre. The Trust has three subsidiary bodies. Shanklin Theatre Limited (the Theatre), the Friends of Shanklin Theatre (FOSn and Shanklin Performing Art5 CIC. Shanklin Theatre Limited operates the Theatre on a day-ttrday basis. and puts on a full programme of both professional shows and community productions; FOST facilitates member5 of the community enEaging 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 5hanklin Theatre, although a substantial amount of the maintenance and improvement work is carried out by appropriately skilled FOST volunteers. Review of activtties Development and Future Plans for the Shanklin Perforniing Arts Centre The Trust. in addition to its management of the Theatre. owns the former Shanklin Library building. now operating as the Sh8nklin Performing Arts Centre. This facility is managed by Shanklin Performing Arts Centre CIC, a Community Interest Company dedicated to supporting the arts locally. The Trust had articulated clear ambitions for the continued enhancement of the Centre. These plans will create a small studio theatre within the building, which will accommodate up to 106 audience member5. As part of this initiative, the proposed development will also include the installation of dedicated changing rooms and the creation of a foyer bar. These improvements are designed to ershance the experience for both perforniers and patrons, providing enhanced facilities and amenities to 5UPPOrt the Centre's activities. In addition to the studio theatre, the Trust's development strategy encompasses the creation of dance studios and rehearsal spaces. These new facilities are intended to meet the needs of local arts groups and educational organisatior)s, offering versatile spaces for practising and performing. Furthermore. the building will feature an area suitable for housing the Shanklin Museum. This addition will expand the Centre's cultural reach that will support local heritage initiative5 and offering the community a broader range of cultural and educational opportunities. Planning Permission and Regulatory Cornpliance The Trust submitted a detailed planning application to the Local Planning Authority and, following an extensive consultation and review process. received approval in May 2024. This milestone marks the culmination of nearly two and a half years of dedicated effort. involving close collaboration with Isle of Wight Council planning officers. the Trust's appointed architert, local residents. and relevant industry bodies. The engagement process was essential to ensure the proposed developments aligned with both statutory requirements and communty expertations. Page I
SHANKUN THEATRE AND COMMUNITY TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 oBJEIVEs AND ACTIVITIES As is standard with such approvals. the planning consent is subject to a range of conditions, each designed to ensure compliance with Section 91 of the Town and Country Planning Act 1990. These conditions include the requirement for additional bat emergence and re-entry surveys to protect local wildlife, the development of comprehensive plans for foul water and Surface water disposal. and the implementation of an extemal lighting scheme. The lighting plan aim5 not only to provide 3 safe and secure environment for all users but also to help deter opportunities for crime. These and other important conditions have been accepted by the Trust as part of its commitment to responsible development and stewardship of the site. Arts Council England- Creative Foundations Funding Application Outcome Following the submi55ion of our expression of interest and a comprehensive application in early AugLtst 2024 for the Creative Foundations Funding, which aimed to support the development of the existing Shanklin Performing Arts Centre, the Trust received notification in late August regarding the outcome of the bid. Unfortunately. on this occasion. the application was not successful in receiving a portion of the £85 million fund allocated to a5SlSt theatres, galleries, and arts centres across England in restorin8 buildings requiring repair. This result was understandably disappointing for all the Trustees involved. A significant amount of effort had been invested, not only in preparing the fijnding application itself but also in securing the initial full planning application consent from the local authority- The outcome reflects the competitrve nature of the funding process and the high level of commitment demonstrated by everyone who corTrtributed to the project thus far. Arts Council Capttal Funding Application Context The process of applying for capital funding from Arts Council England proved to be exceptionalty challenging this year. The fund wa5 reported to be almost I,OLXJ% oversubscribed. highlighting the intense competition among theatres, galleries, and arts centres seeking financial SUPFKJrt for building repairs and development. This oversubscription meant that only a limited number of applications could be considered. raising the bar significantly for all applicants. In addition to the competitive nature of the fund. the application process stipulated a very stringent requirement- organisations were only permitted to submit a bid if they had achieved RIBA stage 3. This Stage necessitates full planning or listed building consent, demonstrating that the projert is ready to proceed from an architettural and regL¢latory standpoint. Meeting this threshold required substanti31 preliminary work and commitment from the trust. underscoring the complexity of the process and the high standards set by the Arts Council. Engagement with Funding Providers In response to the latest update from Arts Council England. in September 2025. two Trustees attended the 'Meet the Funders, event at the Riverside Centre in Newport. This gathering was an invaluable opportunity, bringing together a diverse range of funding organisations, including both local grant-makers and national bodies. These providers offered practical guidance and direct support to those seeking to make a positive impact on the Isle of Wight. The event was specifically organised for communtty groups and chartties operating across the Island. such as the Trust. Its purpose was to facilitste access to funding opportunitie5 and to strengthen local initiatives. The Isle of Wight Council's Family and Community Team, together with CommunÈty Action 151e of Wight, coordinated the event to support both newly established grassroots organi5ations and well-established charities in navigating the often-complex funding landscape. Page 2
SHANKLIN THEATRE AND COMMUNITY TRusr REPORT OF THE TrUSTEES FOR THE YEAR ENDED 31 MARCH 2025 OBJEcfivES AND ACTIVITIES Durin8 the 'Meet the Funders, event, the Trustees had a particularly encouraging conversation with one of the Arts Couftcil'5 area directors. This individual has been actively following our progre55 concerning the proposed development of the Arts Centre. Their continued interest in our project, combined with their support, offers a positive outlook for the Trust as we move forward. This engagement reinforces the determination to advance the Trust plan5 and pursue future grant funding to support the development of the Perfomiing Arts Centre. The Trust is in the process of arranging an on-site visit from the Arts Council Director to review the current Arts Centre and to meet at Shanklin Theatre. The visit will provide an opportunity to discu55 the remarkable progress achieved since the Shanklin Theatre venue was taken over by dedicated volunteers and staff in 2008. Premises Alcohol Licen In September 2025, the trust successfully secured a new Premises Alcohol Ltcence for the Arts Centre. This granted licence now authorises the on-site sale of alcohol, allowing the Arts Centre greater flexibility in supporting events and activities at the venue. However, the trust will exercise cafeful discretion. restrictin8 alcohol sales to selerted activities only* in line with our commitment to responsible management. In accordance with guidance provided by the senior licensing officer and Hampshire Constabulary, the Trust has enhanced the internal monitoring procedures by installing an additional CCTV camera. This measure is intended to oversee the sale of alcohol and other licensable activities. ensuring compliance with licensing condttions and safeguarding all attendees and staff. Health and Safety Management The Trust remains committed to maintsining the highest Standards of health and safety throughout its operation5. To this end, the Health and Safety Manual is subject to ongoing review and regular updates. ensuring that all working practices and guidelines reflert current requirements and best practice. In addition to the continual review of documentstion. the Trust ensures that all fixed electrical equipment and the mains wiring within the Theatre are routinety insperted. Each inspertion is carried out by qualtfi'ed professionals, and all installations are covered by the relevant safety certificate5. thereby upholding compliance and safeguarding everyone who uses the premises. The Theatre is also fully protected by comprehensive insurance policies, which provide cover for the buildings themselves, as we51 as employee and volunteer liability, and public liability. This robust approach to risk management underlines the Trust's dedication to the well-being of staff, volunteers, visitors, and the general public. Sustaining Shanklin Theatre: Financial Model and Operational Approath- Financial Sustainability and External Funding The operation of Shanklin Theatre Ltd is distinct from many other regional theatres and major metropolitan venues, which commonly rely on substantial grants from the Arts Council and their Local Authorities to remain financially viable. In contrast. Shanklin Theatre and the Trust have not received grant funding from these bodies for the past sixteen years, except for funding provided in response to the Covid-19 pandemic. Despite this lack of extem31 financial support prior to the pandemic, the Theatre consistently achieved a positNe financial contribution before depreciation every year since its incorporation. This success reflects a robust commercial strategy focused on responding to market demand and m3intaining careful control over expenditure and cash flow. Page 3
SHANKLIN THEATRE AND COMMUNITY TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 OBJECTIVES AND AcfiviTIES Operational Model and Stsffing Shanklin Theatre's financial health is further reinforced by its stsffing model. which balance5 Cost-effectiveness with high standards of professionalism. Stsff costs are managed by engaging a substantial team of volunteers, while ensuring quality through extensive volunteer training and a core group of skilled employees. The salaried staff members deliver technical expertise in area5 such as sound, lighting. and stage management. In addition. professional management oversees essential functions, including booking5, box office operations. operating systems. financial control, and volunteer coordination. The Theatre employs five salaried staff and benefits from the regular support of around 130 volunteers. Public Benefrt and Alignment with Trust Objertives Every activity undertaken by the Trurt is designed to generate tsngible benefits for the community- The Trust's initiatives are carefully tailored to 5UPPOrt its overarching objectives and ensure that the wider public. as well as residents of Shanklin and the Isle of Wight. enjoy positive outcomes. Through its work, the Trust strives to maintain and protect important local heritage assets, with a special emphasis on Shanklin Theatre. This commitment not only conserves the architerturdl and historical significance of the Theatre but a150 safeguards all buildings and artefacts that contribute to the unique character of the area. By doing so. the Trust ensures that both current and future generation5 may appreciate and benefit from these cultural and historical treasures. The Trustees have complied with their duty to have due regard to the Charty Commission's public benefit guidance when exercising any powers or duties to which the guidance 15 relevant. FINANCIAL REVIEW Financial position Total income for the year amounted to £74,920 12024 £211.570). The totsl cost of charitsble activities amounted to £68,925 12024 £134,265). The net surplus for the year amounted to £5.995 12024 £77,305). Unrestricted funds and restricted funds carried forward at the end of the year amounted to £613.094 and £32.390 respertively 12024 - £608,881 and £30,608). Unrestrlrted fund5 At the end of the year, £431.778 (2024 - £422,003} was designated to the fixed assets fund and £l,01012024 - £1,010) was designated to the window appeal fund. The remaining balance of £180.29612024- £185,868> is held as free reserves. Reserve5 poli The Charity's policy is to hold a5 3 minimum the equivalent of 12 months operating costs in free reserves for uncertainties in future income and provide a contingency for unforeseen costs. When considering reserves it is important to appreciate that the level of free operating reserves are lower due to amounts held in fixed assets. STRUCTURE, GOVERNANCE AND MANAGEMENr Governing document Shanklin Theatre and Community Trust is a charitable company limited by guarantee. incorporated on 24 November 2010 and registered as a charity Ino. 11468341 on 11 April 2012. The company was established under a Memorandum of Association which sets out the objects and powers of the charitable company and is governed under its Articles of Association. Recruitment and appointment of new trustees The governing body of the charity is the board of trustees and they are appointed in accordance with the Articles of Association. Page 4
SHANKLIN THEATRE AND COMMUNITY TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 202S REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 07450494 (England and Wales) Registered Charity number 1146834 Registered office Steephill Road Shanklin Isle of Wight P037 6AJ Trustees CWQuirk A C Wood (deceased 3.10.20241 S J Beston M T F Beston C D Harvey T S Harvey M Dawson S Mclntosh (resigned 17.10.2024} D P Beeson Independent Examiner Bright Brown Limited Chartered Accountants Exchange House St. Cross Lane Newport Isle of Wight P030 5BZ Approved by order of the board of trustees on ..... . and signed on its behalf by- C W Quirk-Trustee Page 5
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SHANKLIN THEATRE AND COMMUNITI TRUST Independent examiner'5 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 2025. RespDn55bilities and basi5 of report As the charity's trustees of the Company (and also its director5 for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061'the 2006 Act'l. Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respert of my examination of your charity'5 accounts as carried out ¢Jnder Section 145 of the Charities Act 2011 I'the 2011 Art'l. In carryin8 out my examination I have followed the Directions given by the Charity Commission under Section 145151 (bl of the 2011 Art. Independent examiner's statement I have completed my examination. I confirni that no matters have come to my attention in connection with the examination giving me cause to believe= accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or the accounts do not accord with those records- or the accounts do not comply with the accounting requirements of Section 396 of the 2tYJ6 Art 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 the accounts have not been prepared in accordance wrth 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 the UK and Republic of Ireland IFRS 10211. I have no concerns and have come across no other matters in connection wtth the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. J Palmer The Institute of Chartered Accountants in England and Wales Bright Brown Limited Chartered Accountants Newport Isle of Wight Date:....... Page 6
SHANKLIN THEATRE AND COMMVNITYTRUST STATEMENT OF FINANCIAL ACTivmES (INCORPORATING AN INCOME AND EXPENDtruRE ACCOUNTI KIR THE YEAR ENDED 31 MARCH 2025 2025 Total nds 2024 Total fLrnds Unrestricted fund5 Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 1.043 1.043 144,945 Charitsble artivities Preservation of Shanklin Theatre building 2.506 42.271 44,777 42.328 Investment income 29.1(K) 29,100 24,297 Total 32.649 42,271 74,920 211,570 EXPENDITURE ON Charitable activitie5 Preservation of Shanklin Theatre building Development of Shanklin Performing Arts Centre 21.314 7,122 40.489 61,803 7,122 85,486 48,779 Total 28,436 40,489 68.925 134,265 NET INCOME 4.213 1,782 5,995 77,305 RECONCILIATION OF FUNDS Total funds brought forward Ed)8.881 30,608 639,489 562,184 TOTAL FUNDS CARRIED FORWARD 613.094 32,390 645,484 639,489 The notes form part of these financial statements Page 7
SHANKUN THEATRE AND COMMUNITY TRUST BALANCE SHEET 31 MARCH 2025 2025 Total funds 2024 Total funds Unrestricted fund5 Restricted funds Notes FIXED ASSErs Tangible assets Investments 501.784 501,784 502,000 501.787 501,787 502,003 CURRENT ASSErs Cash at bank and in hand 182,717 32.39) 215,107 218,446 CREDITORS Amounts falling due within one year (11,4101 111,4101 110,9601 NET CURRENT ASSETS 171,307 32,3 203,697 207.486 TOTAL ASSETS LESS CURREHf LIABILrriES 673.094 32.390 705,484 709,489 CREDITORS Amounts falling due after more than one year io {60,0001 {60.CWI 170.OIX)} NET ASSErs 613,094 32,390 645,484 639,489 FUNDS Unrestricted funds Restricted funds 13 613.094 32.390 608.881 30,608 TOTAL FUNDS 645,484 639,489 The charitsble company is entitled to exemptton from audit under Section 477 of the Companie5 Act 21Y)6 for the year ended 31 March 2025. The members have not required the company to obtain an audtt of tts financial statements for the year ended 31 March 2025 in accordance with Section 476 ofthe Companies Act 2006. The trustees acknowledge their responsibilities for lal ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which gNe a true and fair view of the state of offairs of the charitable company as at the end of each financial year and of tts 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 charttable company. Ibl The notes fomi part of these financial statements Page 8 continued...
SHANKLIN THEATRE AND CQMMUNITY TRUST BALANCE SHEEf- continued 31 MARCH 2025 These financial statements have been prepared in accordance with the provisions applicable to charitsble companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on Z/./.AL... and were signed on its behalf by.. C W Quirk- Trustee The note5 form part of these financial ststements Pa8e 9
SHANKLIN THEATRE AND COMMUNITY TRusr NOTES TO TH£ FINANCIAL STATEMEP4TS FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING pouaES Basis of preparing the financial statements The financial statement5 of the charrtable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities 50RP {FRS 1021 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective l January 20191,. Financial Reporting Standard 102 Yhe Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value. Income All income is recognised in the Statement of Financial Artrvities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditu Liabilitie5 are recognised as expendsture a5 soon as there is a legal or constructive obligation committing the charity to that expenditure. it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular heading5 they have been allocated to activities on a basis consistent with the use 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 No depreciation has been provided on the theatre buildings because, in the opinion of the directors, the charge would be immaterial due to the long life of the asset and the requirement to maintain the listed building. The dirertors carry out annual impairment reviews to ascertain whether a provision ts necessary. Taxation The charity is exempt from corporation tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objertNes at the discretion of the trustees trustees principal activty of the charity is to hold the theatre building in trust. The Restricted fund5 can only be used for particular restricted purposes within the objects of the Charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial Statements. Page 10 continued...
SHANKUN THEATRE AND COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 DONATIONS AND LEGACIES 2025 Total funds 2024 Total fund5 Unrestrirted funds Restricted funds Donations Gift aid Legacies Grants 1.1)43 1.043 7,948 3,640 115,857 17,500 1.043 1,043 144,945 INVESTMENT INCOME 2025 Total funds 2024 Total funds Unrestricted funds Re5trirted funds Rents received Deposit account interest 26,448 2.652 26,448 2,652 22,647 1.650 29.11]) 29,1(K) 24,297 INCOME/(EXPENDITUREI Net income/lexpenditurel is stated after chargingl(creditingl: 2025 2024 Depreciation - owned assets 216 270 TrUSTEES' REMUNERATION AND BENEFITS There were no trustees. remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024. Trustee5' expenses There were no trustees. expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024. Page 11 ontinued..-
SHANKLIN THEATRE AND COMMUNITY TRUST NOTES TO THE FINANaAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 COMPARATIVES FOR THE sfATEMEMf OF FINANaAL ACtIVmES Unrestritted funds Restricted funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 126,645 18.3(M) 144,945 Charitable activities Preservation of Shanklin Theatre building 41,244 42,328 Investment income 24,297 24,297 Total 152.026 59,544 211,570 EXPENDITURE ON Charitable activities Preservation of Shanklin Theatre building Development of Shanklin Performing Arts Centre 20.538 85,486 48.779 48,779 Total 69.317 64,948 134,265 NET INCOME/{EXPENDITURE) 82.709 {5.4041 77.305 RECONCILIATION OF FUNDS Total funds brought forward 526,172 36,012 562,184 TOTAL FUNDS CARRIED FORWARO 608.881 30,608 639,489 Page 12 continued...
SHANKUN THEATRE AND COMMUNITY TRUST NOTES TO THE FINANaAL STATEMEMfs- continued FOR THE YEAR ENDED 31 MARCH 2025 TANGIBLE FIXED ASSETS Freehold property Plant and machinery Totals COST At l April 2024 and 31 March 2025 5LX),922 10,040 510,962 DEPRECIATION At l April 2024 Charge for year 8,962 216 8,962 216 At 31 March 2025 9.178 9,178 NET BOOK VALUE At 31 March 2025 5¢X1.922 862 501,784 At 31 March 2024 5¢XI.922 1,078 502,(100 FIXED ASSET INVESTMENTS Shares in group undertakings MARKET VALUE At l April 2024 and 31 March 2025 NET 800K VALUE At 31 March 2025 At 31 March 2024 There were no investment assets outside the UK. The companrfs investments at the balance sheet date in the share capital of companies include the following.. Shanklin Theatre Limbted Registered office.. Shanklin Theatre. Steephill Road. 5hanklin. Isle Of Wight. P037 6AJ Nature of busines5: Theatre tradin8 company Class of share.. Ordinary holding 100 31.3.25 31.3.24 Aggregate capitsl and reser4es Profit for the year 96,369 96,849 14801 52.250 Page 13 continued...
SHANKLIN THEATRE AND COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMEP4TS- continued FOR THE YEAR ENDED 31 MARCH 2025 FIXED ASSET INVEsfMENTS- contlnued Shanklin Performing Arts ac Registered office.. Shanklin Theatre. Steephill Road, 5hanklin.151e Of WighL P037 6A1 Nature of business: Performing arts Class of share.. Sole member holding 31.3.25 31.3.24 Aggregate capital and reserves (Lossl/profit for the year 22,161 12.8211 24.982 1,222 CREDITORS: AMouKfs FAWNG DUE WITHIN ONE YEAR 2025 2024 Other loans Isee note 111 Accrued expenses 10.000 1,410 10,000 960 11,410 10,960 io. CREDITORS: AMOUNTS FALUNG DUE AFTER MORE THAN ONE YEAR 2025 2024 Other loans (see note 111 60.OIJ) 70,000 ii. LOANS An analysis of the maturity of loans is given below= 2025 2024 Amounts falling due within one yearon demand= Other loans 10,000 10,000 Amounts falling between one and years-. Other loans - 1-2 years 10,000 10.000 Amounts falling due between two and five years: Other loans- 2-5 years 30,0 Amounts falling due in more than five years: Repayable by instalments- Other loans more 5yrs 20,CKNJ 30.0 Page 14 ontinued...
SHANKUN THEATRE AND COMMUNITYTRUST NOTES TO THE FINANCIAL sfATEMEKfS- continued FOR THE YEAR ENDED 31 MARCH 2025 12. SECURED DEBTS The following secured debts are included withirTr creditors.. 2025 2024 Other loans 70.1KM) The IW Council loan of £70,IKKJ 12024 - £80,0} is secured by a legal charge over the freehold property owned by the charity. 13. MOVEMENT IN FUNDS Net movement in funds Transfers beeen funds At 31.3.25 At 1.4.24 Unrestricted funds General fund Fixed asset fund Window appeal fund Idesignatedl 185,868 422,3 I,oio 4,428 12151 {io.0001 iO,CMJO 180,296 431,788 I,oio 608,881 4,213 613.094 Restricted funds Friends of Shanklin Theatre 30,608 1.782 32,390 TOTAL FUNDS 639,489 5.995 645,484 Net movement in funds, induded in the above are as follows: Incoming resources Resources expended Movement in funds Unrestrirted funds General fund Fixed asset fund 32,648 128,220} 12161 4,428 12151 32.649 128,4361 4,213 Re5trirted funds Friends of Shanklin Theatre 42.271 {40.489) 1.782 TOTAL FUNDS 74.920 168,9251 5,995 Page 15 continued...
SHANKLIN THEATRE AND COMMUNITY TRUST NOTES TO THE FINANaAL sfATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 13. MOVEMENT IN FUNDS- continued Comparatives ft>r movement in funds Net movement in funds Transfers between funds At 31.3.24 At 1.4.23 Unrestricted funds General fund Fixed asset fund Window appeal fund Idesignatedl 112,889 412,273 i.oio 82,979 12701 {io,Ixx)I 10,000 185,868 422.003 i.oio 526.172 82,709 608,881 Restrirted funds Friends of Shanklin Theatre Female toilet improvement fund 28,312 7.700 2,296 (7,7001 30,608 36.012 15,404) 30,608 TOTAL FUNDS 562,184 77,305 639,489 Comparative net movement in funds, included in the above are as fdlows= Incomin8 resources Resources expended Movement in funds Unrestricted fvnds General fund Fixed asset fund 152,026 169,0471 12701 82.979 1270} 152,026 169,3171 82,709 Restrirted funds Friends of Shanklin Theatre Female toilet improvement fund 41.244 18.300 138,9481 {26.LKKI) 2,296 17,7001 59,544 164,9481 15,4041 TOTAI FUNDS 211,570 {134,2651 77.305 Window Appeal The Trust are asking for donats.ons to replace some of the w1nd0v in the Theatre. Page 16 continued...
SHANKLIN THEATRE AND COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS- Continued FOR THE YEAR ENDED 31 MARCH 2025 13. MOVEMENT IN FUNDS- continued Transfers between funds The only transfers between fvn(ts during the year is in relation to the separate disclosure of the charity's fixed assets as the trustees believe this will give a more transparent picture of the Trust's financial position at the year end. 14. RELATED PARTY DISCLOSURES During the year, Shanklin Theatre and Community Trust made donations of £8.99312024 £39,999) to Shanklin Theatre Limited, and £7.12212024 - £48,779) to Shanklin Performing Arts CIC, both of which are subsidiaries of the charity. Page 17
SHANKLIN THEATRE AND COMMUNITY TRUST DETAIIED STATEMENT OF FINANCIAL AcnvmES FOR THE YEAR ENDED 31 MARCH 2025 2025 Totsl funds 2024 Total funds Unrestrirted fund5 Restritted funds INCOME AND ENDOWMENTS Donatlons and legacies Donations Giftaid Legacies Grants 1,043 1,043 7,948 3,640 115,857 17,500 1.043 1,043 144,945 Investment income Rents received Deposit account interest 26,448 2,652 26.448 2,652 22,647 1,650 29.1(M) 29,100 24,297 Charitable artivitie5 Friends of Shanklin Theatre income 2,506 42.271 44,777 42,328 Total incoming resources 32.649 42,271 74.920 211,570 EXPENDITURE Chawitable activitie5 Rates and water Insurance Postage and stationery Advert15ing Sundries Legal and professional fees Repairs and renewals Software development Donation to Shanklin Theatre knm¥ted Friends of Shanklin Theatre expenses Donations to Shanklin Performing Arts CIC Plant and machinery 147 1,571 95 206 96 1.350 3.900 985 8,993 1.654 7.122 216 147 1,571 95 206 96 1,350 3,900 985 8,993 42,143 7,122 216 1,549 118 234 496 1,239 39,999 40,459 48,779 270 40,489 26.335 40.489 66.824 133,143 Thi5 page does not form part of the statutory financial ststements Page 18
SHANKUN THEATRE AND COMMUNITY TRUST DEfAJLED sTATEMEr OF FINANCIAL AcrivmES FOR THE YEAR ENDED 31 MARCH 2025 2025 Total funds 2024 Total funds Unrestricted funds Restricted funds Support costs Governance costs Accountancy and legal fees 2.101 2,101 1,122 Total resources expended 28,436 40,489 68.925 134,265 Net Income 4,213 1.782 5,995 77,305 Thi5 page does not form part of the statutory financial statements Page 19