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2024-03-31-accounts

Report of the Directors and Financial Statements

For the Year Ended 31 March 2024 for Valley Community Theatre (Company limited by guarantee and not having share capital)

Valley Community Theatre (Company limited by guarantee and not having share capital)

Contents of the Financial Statements for the Year Ended 31 March 2024

Page
Company Information 1
Report of the Directors 2
Statement of Financial Activities 9
Balance Sheet 10
Notes to the Financial Statements 11
The following pages do not form part
of the statutory financial statements:
Independent Examiner’s Report 15
Profit and Loss Account 16

Valley Community Theatre (Company limited by guarantee and not having share capital)

Company Information for the Year Ended 31 March 2024

DIRECTORS: P Lodge E Lodge M Rowland L Evans C Freeney T McLennan D Brown K Upfold SECRETARY: M A Ball REGISTERED OFFICE: Valley Community Theatre Childwall Valley Road Liverpool Merseyside L27 3YA REGISTERED NUMBER: - COMPANY: 03900667 (England and Wales) - CHARITY: 1150615 (England and Wales)

Page 1

Valley Community Theatre (Company limited by guarantee and not having share capital)

Report of the Directors

for the Year Ended 31 March 2024

The directors present their report with the financial statements of the company for the year ended 31 March 2024.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of an arts facilities operator.

The company was incorporated under the Companies Act 1985, under the terms of its Memorandum and Articles of Association, on 29 December 1999, having already been registered as a Charity in accordance with this governing document on 19 October 1994. In 2013 a new Memorandum and Articles of Association was adopted and the charity was registered again. The new registration number is 1150615

RESULTS

The results for the year are shown in the annexed financial statements.

Mission

The Valley Community Theatre

Public Benefit

The Trustees have considered the Charities Commissions’ Guidance on public benefit in the shaping of its mission and the planning of the Valley Community Theatre’s activities for the year.

Activity

The principal activity of the company in the year under review was that of an arts facilities operator and providing theatre, dance, music, art and film opportunities for young people and the community.

The Valley Community Theatre is one of the largest, newly refurbished youth theatres in the North West of England, and runs:

The Board of Directors/Trustees fulfil their responsibilities as volunteers, and young people are encouraged to contribute to the activities of the VCT when appropriate as supervised volunteers.

Page 2

Valley Community Theatre (Company limited by guarantee and not having share capital)

Report of the Directors (continued) for the Year Ended 31 March 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational Structure

The company is managed by its volunteer Board of Directors/Trustees, who appoint the Project Director, who line manages sessional and project tutors, artists and administrative staff.

The directors of the Company, and Trustees of the registered charity, during the year under review were: P Lodge L Evans E Lodge C Freeney M Rowland T McLennan D Brown K Upfold

The Board meets once a month for ten months of the year and at other times as necessary.

All the directors, being eligible, offer themselves for election at the forthcoming Annual General Meeting. All directors are trustees for the purposes of charity law. Since the company is limited by guarantee and does not have share capital, they are the subscribing members who have guaranteed to contribute an amount not exceeding £1 to the assets of the charitable company in the event of winding up. The total number of guarantees at 31 March 2020 was 4. (2019: 4).

Trustee Induction and Training

Training for existing Trustees and further development of the Board of Directors remains under review. Via the Youth Arts Development Forum, young people have been encouraged and prepared to attend meetings of the Trustees as observers.

Related Parties

From its inception the Theatre has received an annual starter grant from Liverpool City Council. The year under review is the fifth year in concession to offer no such opportunity nor did it offer any opportunity to tender for a specific youth based project. The Theatre continues to see its role in the context of the City’s Youth Arts policy and programme and the City’s provision for young people at risk, hard to reach or facing barriers.

Risk Management

The Board takes seriously its responsibilities and carries out through its Theatre Director full risk assessments on all activities undertaken. Proper consideration is given to fulfilling the requirements of such policies as the VCT Health and Safety, Fire, Diversity and Safeguarding Policies to ensure the safety of all staff, users and visitors. Regular reviews are carried out and the item is part of the standing Agenda at meetings.

FINANCIAL REVIEW

Finances

Total incoming resources for the year amounted to £220,649. Of this £106,130 was unrestricted. The total expended resources were £169,099 of which £54,580 was unrestricted.

Reserves Policy

The Valley Community Theatre aims to maintain a 3 months operating reserve in place.

Page 3

Valley Community Theatre (Company limited by guarantee and not having share capital)

Report of the Directors (continued) for the Year Ended 31 March 2024

Statement of Directors’ responsibilities

Company law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing those financial statements, the directors should follow best practice and:

select suitable accounting policies and then apply them consistently;

make judgements and estimates that are reasonable and prudent; and

prepare the financial statements on the going concern basis unless it is inappropriate to assume that the company will continue on that basis.

The directors are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

PLANS FOR THE FUTURE

The Valley Community Theatre will continue to pursue its youth arts work and work with those with disabilities and barriers via both social and mainstream routes, subject to funding.

Valley Community Theatre, Trustees’ report 23-24

Projects / Grant funding:

HAF (Holiday Activities with Food) grant ensured that we could provide an essential service for local young people aged between 8 and 16 to access free hot, healthy food and arts activities during the school holidays. It was very well attended and most young people excelled in their genres. We joined the celebrations for Liverpool hosting the Eurovision with a Euro grant from Culture Liverpool to provide an arts-based extravaganza including music, singing, dancing and live theatre to create our own mini Eurovision! Culture Liverpool also provided us with a grant for core costs as did the Postcode Lottery.

Liverpool Clinical Commissioning Group and Liverpool City Council funded towards both our youth and adult arts weekly sessions and community performances. We received lottery success from Reaching Communities Lottery fund to refurbish our foyer, toilets and kitchen to provide our local community with a creative café to provide a warm, safe hub to access which is due to open in 2025.

We received a grant from Merseyside Waste & Recycling Authority which allowed us to provide the infrastructure for recycling our waste, growing our own produce and decreasing the volume of textiles going to landfill via our community swish events. We also ran a successful Christmas appeal for the public to donate warm winter clothes which we delivered to the Whitechapel homeless charity in Liverpool. Network theatre gave us a grant to continue our work with our adult drama group.

Merseyside violence protection unit funded us to make a short film with our young people based on what they think a good youth health and wellbeing service would look like. The young people devised the script, rehearsed the scenes, made the music and even filmed it themselves. The short film was screened at a HAF children and young people’s conference in Liverpool. ‘Picton Family Fund’ awarded a capital grant which allowed the purchase of much needed seating and tables in our foyer and lighting / sound equipment.

Also thanks to:

Our adult theatre group who raised money for the charity via an improvisation evening.

Our local community for donating outside Morrisons whilst we performed with the ACE Place and for putting your Christmas tokens in for us when you shop.

Our local Morrisons supermarket for donating food for our young people.

Liverpool City Council for donating equipment and furniture previously used in the Epstein Theatre.

Page 4

Valley Community Theatre (Company limited by guarantee and not having share capital)

Report of the Directors (continued) for the Year Ended 31 March 2024

Valley Community Adult Theatre

Another busy year for the Adult Group, who continued to meet every Monday night, through most of the year. April 2023 saw Valley Theatre hosting the Northern Semi-finals of the ‘All England Theatre Festival’. Summer 2023 saw one of our most successful productions so far, a play about the Netherley Flats: “They All Came Tumbling Down”. This attracted funding from the Mayor of Liverpool’s fund, with Joanne Anderson the retiring mayor in attendance with Joanne’s mum being one of the original campaigners! October 2023 saw Valley produce another of our One Act Play festivals: “A Sense of Place”. Good audiences were attracted as well as a considerable number of writers and actors in new original works. Our Christmas panto this year was “We’re All Scrooged” and was highly successful, attracting good audiences and new members to the group. Finally, we had two submissions for the Leverhulme festival 2024: “Lady and The Tramp” by Bob Towers and “The Ship Ibrox” by Dave Brown. Both were well received, with “The Tramp and the Lady” receiving the Adjudicator’s Award.

Valley Community Youth Theatre

We successfully delivered weekly youth theatre sessions with a strong emphasis on skills development. In September, our youth group proudly staged a performance titled ‘ Relatable ’, which delved into the theme of connection. The show received positive feedback from both our youth group and audience members.

Our participants had the opportunity to explore a diverse range of theatre techniques, including, storytelling, devised theatre, singing, dancing, shadow puppetry, slapstick comedy and visual arts. The band continued to develop and were successful in booking gigs outside of the Valley. Support staff for these sessions were invaluable and a sense of community was built within the youth group with positive relationships between staff and young people.

Throughout the year, our young people engaged in the HAF holiday activities, producing small performances for their families at the end of each week which included “ Fruity Fortunes” and “ Euro FestiValley” which coincided with Liverpool’s hosting of the Eurovision song contest. Additionally, the youth group recorded a film for funders, sharing insights on the benefits of a youth centre and its impact on their well-being.

We provided a warm, safe, well facilitated space. We provided inclusive engagement, tailoring sessions to meet individual needs. We designed arts activities specifically to promote mental health and well-being. We provided support to increase self-care. We connected with local schools and local community groups. We facilitated volunteering opportunities and training. We challenged misconceptions and preconceptions. We signposted to professional services.

We provided over 3500 hot meals, breakfasts and healthy snacks to local young people and their families for free. We diverted 7.5 tonnes from disposal via our recycling project.

We have worked directly with 253 project beneficiaries including children and adults of which 36% had learning and /or physical disabilities, 32% were neurodiverse and 29% had poor mental and/or physical health.

We facilitated 65 drama and dance performances, festivals and celebrations in our community attracting audience/visitor/beneficiary footfall of over 16000 people. These social and cultural events helped to support the survival of local micro-businesses such as dance and drama schools throughout the Liverpool region which attracted more visitors into our ward of Belle Vale increasing socio-economic resilience.

Page 5

ACTIVITIES FOR YOUNG PEOPLE INCLUDED: DANCE & PHYSICAL THEATRE THEATRE TECH-OPERATING IIGHTS AND SOUND: LEARNING NEW SKILLS TEAMWORK & COMMUNICATION Page 6

ON BEHALF OF THE BOARD:

T McLennan - Chair of Trustees Dated: 27 January 2025

Page 7

Valley Community Theatre (Company limited by guarantee and not having share capital)

Statement of Financial Activities (including Income and Expenditure Account) For the Year Ended 31 March 2024

Notes
Incoming resources from generated funds:
Voluntary income:
Grants received
2
Donations received
Incoming resources from
charitable activities:
Total incoming resources
Resources expended
Costs of generating funds:
Costs of generating voluntary income
3
Charitable activities
4
Governance costs
5
Total resources expended
6
Net incoming resources
- Net income for the year
Gross transfers between funds
Net movement in funds
Total funds at 1 April 2022
Total funds at 31 March 2023
Unrestricted
Funds
£
-
51,707
54,423
106,130
-
52,569
2,011
54,580
51,550
-
51,550
18,586
70,136
Restricted
Funds
£
114,519
-
-
114,519
670
113,849
-
114,519
-
-
-
-
-
2024
Total
Funds
£
114,519
51,707
54,423
220,649
670
166,418
2,011
169,099
51,550
-
51,550
18,586
70,136
2023
Total
Funds
£
60,824
320
50,052
111,196
624
129,917
2,006
132,547
(21,351)
-
(21,351)
39,937
18,586




Movements in funds are disclosed in Note 13 to the financial statements.

DESIGNATED AND ENDOWMENT FUNDS

The charity had no designated or endowment funds in the year.

The notes form part of these financial statements.

Page 8

Valley Community Theatre (Company limited by guarantee and not having share capital)

Balance Sheet As at 31 March 2024

Notes
FIXED ASSETS:
Tangible assets
10
CURRENT ASSETS:
Cash at bank and in hand

CREDITORS:Amounts falling
due with one year
11

NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
RESERVES:
12
Unrestricted income funds – general
Restricted income funds
2024
£

26,197
650





£
44,589


25,547
70,136
£ 70,136
70,136
-
£ 70,136
2023
£

14,438
1,076






£
5,224
13,362
18,586
-
£18,586
18,586
-
£18,586



£

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for: (a) ensuring that the company keeps accounting records which 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 company as at the end of each financial year and of its profit or loss 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.

The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with FRS 102.

ON BEHALF OF THE BOARD:

………………………… – T McLennan

Approved by the board on 27th January 2025

The notes form part of these financial statements

Page 9

Valley Community Theatre (Company limited by guarantee and not having share capital)

Notes to the Financial Statements for the Year Ended 31 March 2024

1. ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, the Companies Act 2006 and follow the recommendations of Statement of Recommended Practice applicable to charities.

Incoming resources

Incoming resources represent grants received from local and central government, via national and European urban regeneration schemes, fundraising activities and sundry receipts. All such income is recognised in full in the Statement of Financial Activities in the year in which they are receivable.

Resources expended

Resources expended are recognised in the period in which they are incurred. Resources expended include attributable VAT which cannot be recovered.

Fundraising and publicity costs comprise those costs incurred in raising funds for the charity and promoting its public profile.

Resources expended on charitable activities comprise all expenditure directly in undertaking the charity’s work to meet its charitable objectives.

Governance costs comprise costs incurred directly in governance arrangements relating to the general running of the charity.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost of each asset over its estimated useful life:

Fixtures & Fittings - 15% straight line Theatre Equipment - 15% straight line

Restricted funds

Restricted funds are funded by grants received for use on specified projects, identified as part of the original bid for such funding, and may not be used to finance any other projects or the general operations of the charity. Expenditure which meets these criteria is charged against restricted funds, together with a fair allocation of management and support costs.

Unrestricted funds

Unrestricted funds are grants and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds.

Page 10

Valley Community Theatre (Company limited by guarantee and not having share capital)

Notes to the Financial Statements (continued) for the Year Ended 31 March 2024

2. INCOMING RESOURCES FROM ACTIVITIES TO FURTHER THE CHARITY’S OBJECTS

Grants received
LCC
Merseyside Play Action Council
LCVS
Netherley Youth Foundation
MWRA
Liverpool HAF
Postcode Lottery
National Lottery Community Fund
Picton Family Fund
Unrestricted
Funds
£
-
-
-
-
-
-
-
-
-
-
Restricted
Funds
£
21,271
10,148
8,690
6,593
7,977
17,270
23,850
15,720
3,000
114,519
2024
Total
Funds
£
21,271
10,148
8,690
6,593
7,977
17,270
23,850
15,720
3,000
114,519
2023
Total
Funds
£
31,274
4,500
17,857
7,193
-
-
-
-
-
60,824

3. COSTS OF GENERATING VOLUNTARY INCOME

Publicity and promotions
4.
CHARITABLE ACTIVITIES
Staff costs (note 8)
Performance
Practitioners
Rent, rates and water
Light and heat
Telephone
Repairs & maintenance
Catering
ICT equipment & maintenance
Insurance
Bank charges
Professional Fees
Depreciation
Unrestricted
Funds
£
-
Unrestricted
Funds
£
11,934
22,479
-
-
-
-
-
8,610
-
-
-
-
9,546
52,569
Restricted
Funds
£
670
Restricted
Funds
£
67,895
-
5,720
2,598
15,896
1,543
11,832
-
-
6,394
149
1,822
-
113,849
2024
Total
Funds
£
670
2024
Total
Funds
£
79,829
22,479
5,720
2,598
15,896
1,543
11,832
8,610
-
6,394
149
1,822
9,546
166,418
2023
Total
Funds
£
624
2023
Total
Funds
£
68,944
27,758
4,470
216
9,032
1,513
4,508
2,732
245
5,998
105
2,350
2,046
129,917

Page 11

Valley Community Theatre (Company limited by guarantee and not having share capital)

Notes to the Financial Statements (continued) for the Year Ended 31 March 2024

5. GOVERNANCE COSTS

Unrestricted
Funds
£
Telephone
267
Rent, rates and water
-
Accountancy
650
Depreciation
1,089
2,011
6.
TOTAL RESOURCES EXPENDED
Staff Depreciation
Costs (owned assets)
£
£
Costs of generating voluntary
income
- -
Charitable activities
79,829 9,546
Governance costs
- 1,089
79,829 10,635
7.
NET INCOMING RESOURCES FOR THE YEAR
This is stated after charging:
Depreciation
8.
STAFF COSTS
Staff costs were as follows:
Wages and salaries
No employee received emoluments of more than £50,000.
Unrestricted
Funds
£
Telephone
267
Rent, rates and water
-
Accountancy
650
Depreciation
1,089
2,011
6.
TOTAL RESOURCES EXPENDED
Staff Depreciation
Costs (owned assets)
£
£
Costs of generating voluntary
income
- -
Charitable activities
79,829 9,546
Governance costs
- 1,089
79,829 10,635
7.
NET INCOMING RESOURCES FOR THE YEAR
This is stated after charging:
Depreciation
8.
STAFF COSTS
Staff costs were as follows:
Wages and salaries
No employee received emoluments of more than £50,000.
Unrestricted
Funds
£
267
-
650
1,089
2,011
Depreciation
(owned assets)
£
-
9,546
1,089
10,635
Restricted
Funds
£
-
-
-
-
-
Other
Costs
£
670
76,043
922
77,635
2024
Total
Funds
£
272
-
650
1,089
2,011
2024
Total
Costs
£
670
166,418
2,011
169,099
2023
Total
Funds
£
267
-
650
1,089
2,006
2023
Total
Costs
£
624
129,917
2,006

132,547

FOR THE YEAR
of more than £50,000.

2024
£
10,635
2024
£
79,829

2023
£
3,135
2023
£
68,944

The average weekly number of employees during the year, calculated on the basis of full-time equivalents, was as follows:

2024 2023
Fundraising and publicity - -
Charitable activities 4 4
Governance costs - -

No remuneration was paid to the directors, nor were any expenses incurred by directors in both years.

Page 12

Valley Community Theatre (Company limited by guarantee and not having share capital)

Notes to the Financial Statements (continued) for the Year Ended 31 March 2024

9. TAXATION

The charitable company is exempt from corporation tax on its charitable activities.

10. TANGIBLE FIXED ASSETS

Fixtures &
Fittings
COST OR VALUATION:
At 1 April 2023
22,431
Additions
-
At 31 March 2024
22,431
DEPRECIATION:
At 1 April 2023
20,617
Charge for the year
1,089
At 31 March 2024
21,706
NET BOOK VALUE:
At 31 March 2024
725
At 31 March 2023
1,814
Fixtures &
Fittings
COST OR VALUATION:
At 1 April 2023
22,431
Additions
-
At 31 March 2024
22,431
DEPRECIATION:
At 1 April 2023
20,617
Charge for the year
1,089
At 31 March 2024
21,706
NET BOOK VALUE:
At 31 March 2024
725
At 31 March 2023
1,814
Theatre
Equipment
38,095
50,000
88,095
34,685
9,546
44,231
Theatre
Equipment
38,095
50,000
88,095
34,685
9,546
44,231
Total
60,526
50,000
110,526
55,302
10,635
65,937
44,589
5,224







725
1,814



43,864
3,410

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



Trade creditors

Social security and other taxes

Accrued expenses

2024
£
-
-
650
650
2023
£
-
-
650
650

12. ANALYSIS OF NET ASSETS BETWEEN FUNDS

General
Funds
£
Tangible fixed assets
44,589
Current assets
26,197
Current liabilities
( 650)
Net assets at 31 March 2024
70,136
Restricted
Funds
£
-
-
-
-
Total
Funds
£
44,589
26,197
( 650)
70,136

Page 13

Valley Community Theatre (Company limited by guarantee and not having share capital)

Independent Examiner’s Report to the Trustees of Valley Community Theatre

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 43(2) of the Charities Act 1993 (the 1993 Act) and that an independent examination is needed.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

Basis of independent examiner’s report

My examination was carried out in accordance with the General Directions given by the Charities Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

Name: P Taylor Relevant professional qualification or body: ACCA Address: 74 Brook Vale Waterloo Liverpool L22 3YB Date: 27 January 2025

This page does not form part of the statutory financial statements

Page 14

Valley Community Theatre (Company limited by guarantee and not having share capital)

Profit and Loss Account for the Year Ended 31 March 2024

Income:
Grants received
Donations received
Other incoming resources
Expenditure:
Wages and salaries
Telephone
Publicity and promotions
ICT equipment & maintenance
Performance costs
Practitioners
Repairs and equipment
Professional fees
Accountancy
Rates and water
Insurance
Light and heat
Catering expenses
Finance costs:
Bank charges
Bank interest
Depreciation:
Fixtures & fittings
Theatre equipment
NET PROFIT/(LOSS)
2024
£
114,519
51,707
54,423
79,829
1,815
670
-
21,479
5,720
11,832
1,822
650
2,598
6,394
15,896
8,610
149
-
1,089
9,546
£
£




220,649













158,315
62,334


149


10,635
51,550
2023
£
£
60,824
320
50,052
111,196
68,944
1,780
624
245
27,758
4,470
4,508
2,350
650
216
5,998
9,032
2,732
129,307
(18,111)
105
-
105
1,089
2,046
3,135
£(21,351)

















This page does not form part of the statutory financial statements

Page 15