Registered number 06978781
Court Theatre Limited
Annual Report of The Directors and Trustees and
Financial Statements for the Year Ended 31 August 2024
Charity No: 1147983 Company Limited by Guarantee no: 06978781
Court Theatre Limited Report and Financial Statements Contents
| Page | |
|---|---|
| Company information | 1 |
| Trustees' and Directors' report | 2 |
| Independent Examiner's report | 5 |
| Income and Expenditure account | 6 |
| Statement of Financial Activities | 7 |
| Balance sheet | 8 |
| Notes to the Financial Statements | 9 |
Court Theatre Limited Company Information
Directors
S P Berry - resigned 22 July 2024 R W Brown A Evans - appointed 22 July 2024 J Farrow I Gower- appointed 22 July 2024 S Mattey I G Muirhead N Russon - appointed 22 July 2024
Secretary
J Farrow
Independent Examiner
D R Kerins FCCA Ad Valorem Accountancy Services Ltd Chartered Certified Accountants 2 Manor Farm Court Old Wolverton Milton Keynes Bucks MK12 5NN
Bankers
HSBC Bank plc 2 Walton Road Aylesbury Bucks HP21 7SS
Registered office
66 Mortimer Hill Tring Herts HP23 5JU
Registered number
06978781
Registered Charity Number
1147983
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Court Theatre Limited Registered number: 06978781 Trustees' and Directors' Report
The trustees and directors present their report and financial statements for the year ended 31 August 2024
Structure, Governance and Management
The charity is a company with charitable aims, limited by guarantee and not having a share capital. It was registered as a charity with the Charity Commission on 6 July 2012.
Membership is open to both individuals and theatre organisations; both have rights to vote at general meetings.
The trustees who have acted during the year are shown on page 1 of this report. New trustees may be appointed by members in a general meeting or by the existing trustees. New trustees are invited to attend board meetings and are advised of their responsibilities as trustees under the charity regulations before accepting the appointment. The Trustees have due regard to guidance published by the Charity Commission on public benefit.
Any major risks to operations have been reviewed and systems or procedures have been established to manage those risks
Day to day running of the theatre was undertaken by volunteers known internally as "directors"; their roles covered programming, marketing, event management, technical issues, pantomime, grants, bar, front of house and youth development. Those directors attended meetings of the trustee board but were not legal trustees of the charity.
Objectives and Activities
The charity's primary object is to advance the education, to the benefit of the general public in the performimg arts, theatrical productions and artistic excellence. This was, until June 2024, largely achieved by the operation of The Court Theatre, Tring, a community theatre run entirely by volunteers.
Throughout the reporting year the trustees were mindful of two aims. The first was to continue to succesfully operate the theatre for the remaining 9 months of the lease.This was done by enabling a programme of events throughout this period, which included a variety of performing arts, both amateur and professional. It also provided an opportunity for volunteers to be trained in and to gain practical experience of a number of theatrical skills and operational support areas.
It also encouraged the participation of young people by providing affordable theatrical experience as audience and active participation through workshops and performances, both musical and theatrical.
The second aim was to address the future role of the charity as a catalyst for excellence in the performing arts in Tring and the surrounding areas.This is covered later in the Trustees Report under Future of the Charity.
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Court Theatre Limited Registered number: 06978781 Trustees' and Directors' Report
Achievements and Performance
The theatre has a large and varied programme. During the 9 month period there were 50 (2023 year: 51) shows involving 145 (2023: 151) separate performances. These numbers indicated an increasing level usage due to volunteer activity despite the imminent termination of our lease. The events were presented by 28 (2023:27) user hirers including Court Theatre Ltd (CTL) itself which promoted 5 (2023: 5) shows. Events promoted by CTL included the fundraising Pantomime and Murder Mystery event and live music intended to broaden the theatre's programme. Other shows included professional comedy and amateur shows from local groups which covered dramatic plays, comedies and musicals. Youth was well represented with 8 (2023:8) local groups putting on shows. Total audience numbers for the year were 19,598 (2023: 21,680).
Financial Review
The charity generated an income for the year of £38,446 down from £46,032 in the previous period.
Although theatrical utilisation for the first 9 months was on a par with the previous year the loss of 3 months of trading had a detrimental affect on sales income. This was further compounded by the costs of winding up the bar subsisdiary which in previous years has been a source of donations income.The overall result was the bar made no donation in the 2024 year and further meant a debtor of £6361 stemming from unremitted donations from prior years had to be written off to expenses.
Despite these adverse expenses the Trustees were pleased with the final result which was able to be transferred to the general reserve.
With net reserves of £191,733 (2023: £153,287) the charity is in a strong position to fulfil the next steps in its charitable objectives.
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Court Theatre Limited Registered number: 06978781 Trustees' and Directors' Report
Future of the Theatre and The Charity
As previously trailed CTL's lease at the Court Theatre came to an end in June 2024. The theatre has since been rebranded and contines to operate under a new management team.
The Trustees have resolved that the charity will continue to operate. One of the first acts is change the name of the charity to reflect its wider objectives of supporting the performing arts in Tring and environs and remove the reference to a specific building. A member's meeting agreed that the board should seek to change the name to Tring Performing Arts Trust Ltd.
In furtherance of its objectives the charity will extend its existing grant making activities. Since the formation of the charity grants were made to local amateur users of the theatre to hire the theatre at a subsidised rate. There was also a programme of Artistic Support Grants which was curtailed during the Covid period and then suspended in response to uncertainty over the continued existence of both the theatre and charity when our lease was terminated.
The Trustees expect to publish the criteria and methodology for seeking grants by early 2025.
Revenue for this activity will come from two sources; firstly investment income and secondly by continuing to run events under its own new name.
Reserves Policy
With the change in direction of the charity the existing categories of reserves became less relevant. For reporting year 2024 the Trustees resolved to move all funds to the General Reserve in the interests of clarity. The Trustees are mindful of their fiscal responsibilities and so during the financial year ending 2025 will create a new set of reserves which reflect the revised operation of the charity.
The revised position is reflected in Note 9 to the Accounts.
Small company provisions
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies
This report was approved by the board on 30 November 2024 and signed on its behalf.
IG Muirhead Director
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Court Theatre Limited
Independent Examiner's report to the trustees of Court Theatre Limited
I report on the financial statements of the company for the year ended 31 August 2024 which are set out on pages 6 to 12.
Responsibilities and basis of report
As the charity trustees 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’).
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 respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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 concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
D R Kerins FCCA
For and on behalf of: Ad Valorem Accountancy Services Ltd Chartered Certified Accountants
2 Manor Farm Court Old Wolverton Milton Keynes Bucks MK12 5NN
20 April 2025
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Court Theatre Limited Income and Expenditure Account for the year ended 31 August 2024
| Notes Income 3 Hire of theatre Ticket income Marketing expenses recharged Box Office expenses recharged Other income Donations received Total Income Expense 3 Theatre rent Event expenses Marketing expenses Box Office expenses Artistic Support Grants Administrative expense Total Expense Operating Income Interest receivable Income for the financial year |
2024 £ 46,097 44,988 2,400 12,201 14,566 191 120,443 29,960 12,491 2,150 13,371 - 26,749 84,721 35,722 2,724 38,446 |
2023 £ 50,627 47,599 3,600 13,660 14,544 8,679 138,709 42,800 10,865 3,219 16,295 - 19,914 93,093 45,616 416 46,032 |
|---|---|---|
6
Court Theatre Limited Statement of Financial Activities for the year ended 31 August 2024
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| Funds | Funds | 2024 | 2023 | ||
| Notes | £ | £ | £ | £ | |
| Income and endowments from | |||||
| Donations and legacies | 191 | 191 | 8,679 | ||
| Charitable activities | 122,976 | 122,976 | 130,446 | ||
| Total income and endowments | 3 | 123,167 | - | 123,167 | 139,125 |
| Expenditure on | |||||
| Charitable activities | 84,001 | 84,001 | 92,493 | ||
| Other | 14 | 720 | 720 | 600 | |
| Total expenditure | 3 | 84,721 | - | 84,721 | 93,093 |
| Net Income | 38,446 | - | 38,446 | 46,032 | |
| Tax on activities | - | - | - | - | |
| Net movement in funds | 38,446 | - | 38,446 | 46,032 | |
| Reconciliation of Funds | |||||
| Total funds brought forward | 153,287 | - | 153,287 | 107,255 | |
| Total funds carried forward | 191,733 | - | 191,733 | 153,287 |
The notes form part of these financial statements
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Court Theatre Limited Balance Sheet Reg. No. 06978781 as at 31 August 2024
| Notes Fixed assets Investments 6 Current assets Debtors 7 Cash at bank and in hand Creditors: amounts falling due within one year 8 Net current assets Net assets The funds of the charity Unrestricted income fund 9 Total charity funds |
2024 £ 1 5,300 193,147 198,447 (6,715) 191,732 191,733 191,733 191,733 |
2023 £ 1 12,576 183,555 196,131 (42,845) 153,286 153,287 153,287 153,287 |
|---|---|---|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for:
(a) ensuring that the company keeps accounting records which comply with sections 386 and 387 of the Act and
(b)preparing financial statements which give a true and fair view of the state of affairs of the 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 company.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies
The financial statements were approved by the Board of Directors on 30 November 2024 and were signed on its behalf by:
RW Brown Director
8
Court Theatre Limited Notes to the Accounts
for the year ended 31 August 2024
1 Statutory Information
Court Theatre Limited is a charitable organisation limited by guarantee, registered in England and Wales.
The charity's registered office address can be found on the company information page. The charity's place of business for the first 9 months of the reporting year was The Court Theatre, Pennyroyal Court, Station Road, Tring, HP23 5QY.
The presentation currency of the financial statements is the Pound Sterling (£).
2 Statement of Compliance
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.
3 Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention.
Incoming resources / Turnover
Income has been recognised on the following basis:
-
Donations and grants are generally recognised when received.
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Invoiced income is accrued monthly.
-
Interest income is recognised on receipt.
Resources expended
Expenditure is recognised on an accruals basis.
Depreciation
In previous years depreciation had been provided at the following rates in order to write off the assets over their estimated useful lives.
Leasehold Improvements 33% straight line Fixtures and Fittings 33% straight line
In the financial year all assets were written off to reflect the fact that any remaining assets were donated to the theatre at the expiry of the lease.
Preparation of consolidated financial statements
The financial statements contain information about Court Theatre Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated statements.
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Court Theatre Limited Notes to the Accounts for the year ended 31 August 2024
Fund accounting
Funds held by the charity are either:
Unrestricted funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees. Income is recognised as unrestricted income when the charity becomes entitled to the income as a result of activities already performed and any pre-conditions have been met. Where this is not the case the income is deferred and not included in incoming resources until the activities have been performed.
Restricted funds - these are funds that 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. The Trustees monitor and discuss the restricted funds at meetings to ensure the restricted expenditure is allocated accordingly. The charity currently has no restricted fund.
Debtors and creditors receivable/payable within one year
Debtors and Creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of financial activities.
4 Taxation
The company is a registered charity and is exempt from corporation tax on its income.
5 Tangible fixed assets
| Cost At 1 September 2023 Disposals At 31 August 2024 Depreciation At 1 September 2023 On disposals At 31 August 2024 Net book value At 31 August 2024 |
Leasehold Improvts £ 4,968 (4,968) - 4,968 (4,968) - - |
Fixtures & Fittings £ 9,615 (9,615) - 9,615 (9,615) - - |
Total £ 14,583 (14,583) - 14,583 (14,583) - - |
|---|---|---|---|
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Court Theatre Limited Notes to the Accounts for the year ended 31 August 2024
6 Investments
| 6 | Investments | ||||
|---|---|---|---|---|---|
| Investments in | |||||
| subsidiary | |||||
| undertakings | |||||
| £ | |||||
| Cost | |||||
| At 1 September 2023 | 1 | ||||
| At 31 August 2024 | 1 | ||||
| The company holds 20% or more of the share capital of the following | company: | ||||
| Company | Shares held | Capital and **reserves ** |
(Loss) for the period |
||
| Class | % | £ | £ | ||
| Court Theatre Catering Ltd | Ordinary | 100 | (275) | (2,669) | |
| Company No: 07625341 | |||||
| 7 | Debtors | 2024 | 2023 | ||
| Trade debtors | £ - |
£ 1,965 |
|||
| Amounts owed by group undertakings and undertakings in which | |||||
| the company has a participating interest | 4,500 | 10,611 | |||
| Prepayments | 800 | - | |||
| 5,300 | 12,576 | ||||
| 8 | Creditors: amounts falling due within one year | 2024 | 2023 | ||
| Accruals | £ 4,915 |
£ 4,128 |
|||
| Advance Ticket Sales | - | 16,570 | |||
| User Group/Hirers Deposits | 1,800 | 5,480 | |||
| User Group/Hirers | - | 16,667 | |||
| 6,715 | 42,845 |
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Court Theatre Limited Notes to the Accounts for the year ended 31 August 2024
9 Movement on Unrestricted Reserves Fund
| At 1 September 2023 Transfer between Funds Income in year At 31 August 2024 At 1 September 2023 Income in year At 31 August 2024 |
Contingency Fund 35,000 (35,000) - Total Funds 153,287 38,446 191,733 |
Developmt Fund 5,538 (5,538) - |
Artistic Support 20,000 (20,000) - |
General Reserves 92,749 60,538 38,446 191,733 |
|---|---|---|---|---|
10 Post balance sheet events
As covered in the Trustees' report the charity will continue to operate. The charity will be changing its name to reflect its revised role and extending its existing grant making activities.
11 Trustees
No trustee received any remuneration or claimed any expenses during the year. (2023: £nil)
12 Employees
The charity is run entirely by volunteers and so employed nil staff during the year (2023:nil).
| 13 Governance Costs Cost of Independent Examination |
2024 £ 720 |
2023 £ 600 |
|---|---|---|
14 Related party transactions
Court Theatre Catering Limited, its trading subsidiary, ceased trading at the expiry of the lease. CTCL incurred winding up costs stemming from redundancies, stock write-offs and sale of assets. As a result no donation was possible in the reporting year and £6,361 of accrued donations from prior years was written back. In 2023 the accrued donation was £5,375.
As at the balance sheet date £4,500 (2023: £10,611) from CTCL was unpaid. This was paid over in November 2024.
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