OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-03-31-accounts

REGISTERED NUMBER 07889440

BEAR PIT THEATRE LTD

Registered Charity No. 1156259

ACCOUNTS

FOR THE YEAR ENDED

31 MARCH 2023

BEAR PIT THEATRE LTD

Registered Charity No. 1156259

ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

INDEX

1 - 4 Report of the trustees 5 Independent Examiner’s report 6 Statement of financial activities 7 - 8 Balance sheet 9 - 15 Notes to the accounts

BEAR PIT THEATRE LTD

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2023

The trustees are pleased to present their report together with the financial statements of the charity for the year ended 31 March 2023.

Administrative details

Charity number : 1156259 Company number : 07889440

Registered office :

Barclays Bank Chambers Bridge Street Stratford upon Avon Warwickshire CV37 6AH

Independent Examiner :

H E Bowen ACA Chartered Accountant H. L. Barnes Barclays Bank Chambers Stratford upon Avon Warwickshire CV37 6AH

Bankers :

Lloyds Bank plc 22 Bridge Street Stratford upon Avon Warwickshire CV37 6AG

Directors and trustees :

The directors of the charitable company (the charity) are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees.

S B Allen D Mears (resigned 14 November 2023) D J Derrington (resigned 29 November 2022) C L J Froud (resigned 30 August 2022) L E Rose R Ganner (Chair) C L Edwards L Milward (appointed 1 April 2022 and resigned 1 November 2022) B Derrington (appointed 20 November 2022)

Website :

www.thebearpit.org.uk

1

BEAR PIT THEATRE LTD

REPORT OF THE TRUSTEES (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

Structure, Governance and Management

Governance Document

Bear Pit Theatre Ltd is a company limited by guarantee governed by its Memorandum and Articles of Association dated 21 December 2011 and amended to allow for current governance arrangements on 11 March 2014. It is a registered charity with the Charity Commission. There are currently 5 members, each of whom agrees to contribute £1 in the event of the charity winding up.

Appointment of trustees

The company shall have a Board of Directors (trustees) comprising of no less than three directors. Directors shall be elected by and from the Membership at (or prior to) the Annual General Meeting.

If the Directors believe it would benefit the company or the number of Directors is less than the minimum prescribed, the Directors may co-opt other people to serve on the Board of Directors, provided that at no time shall more than one-third of the Directors comprise co-opted people.

Each Director shall serve a term of two years, after which they are eligible for re-election at the Annual General Meeting.

Trustee induction and training

New trustees undergo an orientation day to brief them on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision making processes, the business plan and recent financial performance of the charity. During the induction day they meet other trustees. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.

Organisation

The board of trustees administers the charity. The trustees meet monthly.

Risk Management

The trustees have a risk management strategy which comprises :

Objectives and activities/Achievements and performance

In line with the set objectives of the charity, namely : ‘ To advance public education in the arts and promote knowledge, understanding and appreciation in the arts (in particular visual and performing arts) by providing and managing a theatre and associated facilities in Stratford upon Avon and in the surrounding area for the public benefit’.

The trustees have continued to run and improve the Bear Pit Theatre space to ensure that it is a usable, affordable, safe and viable performing area for the performers and artists of Stratford upon Avon.

In shaping the objectives for the year and planning activities, the trustees have considered the Charity Commission’s guidance on public benefit.

2

BEAR PIT THEATRE LTD

REPORT OF THE TRUSTEES (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

Objectives and activities/Achievements and performance (continued)

The Theatre

Following the two previous difficult years for the theatre, the trustees are pleased to say that the company is beginning to finally recover. The theatre company performed 4 plays in the period, one fewer than usual, but ticket sales for all the plays were strong. There was also a full programme of hires which constitute a considerable proportion of the income together with the bar sales.

There was no major building capital expenditure on the internals of the building apart from normal repairs and renewal. The theatre and attached church did suffer from a spate of burglaries in the summer and autumn of 2022 but it would appear that little was stolen but damage to doors and locks was considerable. Thankfully, most costs were covered by our insurance and there was therefore no great effect on the finances.

The one major capital expense, referred in last year’s report, was the installation of a projector and large screen to create a community cinema. One of Stratford’s two cinemas had closed a couple of years ago and it was decided that the theatre would make a good cinema where films could be shown for the local community at a much smaller cost than the remaining Everyman cinema. We asked play audiences whether they would support such a venture and if so, what genre of films should be shown. All those canvassed backed the venture and we were indebted to the Town Trust and One Stop Shop who provided the majority of the funding. We started to show test films at the beginning of 2023 with a target of opening fully in the autumn of this year. This facility is also proving very popular with the directors and hirers for using in plays. We also hosted one showing in the Stratford Film Festival and those involved in that project have indicated a wish to use our cinema much more in 2023.

External

There were no major works undertaken externally apart from necessary repairs and renewals.

Future Plans for 2023/2024

As discussed in previous reports, the theatre is still in the round as we enter April 2023. The trustees have, however, now decided that we should return to a ‘front on’ configuration and this has been programmed in for August 2023. We believe that our hirers in the community find it much easier to use in this state and it will also benefit the cinema project. The Cherry Orchard will be the first play performed in the new configuration.

The charity will undergo a major change in its administrative structure and how it is run which will bring significant benefit to the charity, making the theatre stronger and better organised and equipped for the challenges of the 21[st] Century.

3

BEAR PIT THEATRE LTD

REPORT OF THE TRUSTEES (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

Financial review

Incoming resources for the year exceeded resources expended by £1,402. In 2022 resources expended exceeded incoming resources by £19,576. Total incoming resources for the year were £78,195 (2022 £29,232) and total resources expended for the year were £76,793 (2022 £48,808).

Investment powers and policy

Under the Articles of Association the charity has the power to invest in any way the trustees wish.

Reserves policy

It is the trustees’ intention to maintain sufficient funds at any time to finance the next planned performance.

Trustees’ responsibilities in relation to the financial statements

The trustees are responsible for preparing the trustees’ report and the accounts in accordance with applicable law and regulations.

Company law requires the trustees to prepare accounts for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period. In preparing these accounts, the trustees are required to:

The trustees are responsible for ensuring that adequate accounting records are maintained that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and ensuring their proper application in accordance with charity law, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

By order of the trustees :

R Ganner

4

INDEPENDENT EXAMINER’S REPORT

TO THE TRUSTEES OF BEAR PIT THEATRE LTD

I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2023 which are set out on pages 6 to 15.

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:

  1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no 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.

H E Bowen ACA

Chartered Accountant H. L. Barnes Barclays Bank Chambers Stratford upon Avon

11 December 2023

5

BEAR PIT THEATRE LTD

STATEMENT OF FINANCIAL ACTIVITIES

(INCLUDING INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31 MARCH 2023

2023 2022
Unrestricted Restricted Total Total
Notes Funds Funds Funds Funds
£ £ £ £
Income
Donations 3 4,839 5,000 9,839 2,652
Income from charitable activities
4		 68,356 - 68,356 26,580
───── ───── ───── ─────
Total income 73,195 5,000 78,195 29,232
───── ───── ───── ─────
Expenditure
Expenditure on charitable
activities 5 72,204 4,589 76,793 48,808
───── ───── ───── ─────
Total expenditure 72,204 4,589 76,793 48,808
───── ───── ───── ─────
Net income/(expenditure) and net
movement in funds for the year 991 411 1,402 (19,576)
Reconciliation of funds
Total funds brought forward 33,249 10,609 43,858 63,434
───── ───── ───── ─────
Total funds carried forward £ 34,240 £ 11,020 £ 45,260 £ 43,858
═════ ═════ ═════ ═════

The notes on pages 9 to 15 form part of these accounts.

6

BEAR PIT THEATRE LTD

(REGISTERED NUMBER 07889440)

BALANCE SHEET

AT 31 MARCH 2023

2023 2022
Notes £ £
Fixed Assets
Tangible assets 10 29,354 33,399
────── ──────
Total Fixed Assets 29,354 33,399
────── ──────
Current Assets
Stock 943 1,531
Debtors and prepayments 11 11,993 4,460
Cash at bank and in hand 12 19,045 19,606
────── ──────
Total Current Assets 31,981 25,597
Liabilities
Creditors falling due within
one year 13 (10,075) (7,138)
────── ──────
Net Current Assets 21,906 18,459
────── ──────
Total assets less current liabilities 51,260 51,858
Long Term Liabilities
Coronavirus Bounce Back
Loan 14 (6,000) (8,000)
────── ──────
Net Assets £ 45,260 £ 43,858
══════ ══════
The funds of the charity
Unrestricted Funds 15 34,240 33,249
Restricted Funds 15 11,020 10,609
────── ──────
Total charity funds £ 45,260 £ 43,858
══════ ══════

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for :

7

BEAR PIT THEATRE LTD

(REGISTERED NUMBER 07889440) BALANCE SHEET (CONTINUED)

AT 31 MARCH 2023

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 constitute the annual accounts required by the Companies Act 2006 and are for circulation to the members of the company.

These accounts were approved by the Trustees on 11 December 2023 and signed on their behalf by:

R Ganner ………………………………………………….. S B Allen …………………………………………………..

Trustees

The notes on pages 9 to 15 form part of these accounts.

8

BEAR PIT THEATRE LTD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Bear Pit Theatre Ltd is a private company limited by guarantee. The company is registered in England under number 07889440 and the address of the registered office is Barclays Bank Chambers, Stratford upon Avon, Warwickshire CV37 6AH. The company’s place of business is The Bear Pit, Rother Street, Stratford upon Avon, Warwickshire CV37 6LU.

2. ACCOUNTING POLICIES

a) Basis of accounting

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice and applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Bear Pit Theatre Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

b) Income

Income is derived from performances, theatre hire, donations, collections and fundraising events held during the year and is included in the year in which it becomes receivable.

c) Expenditure

All expenditure is accounted for on an accruals basis.

d) Tangible fixed assets

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

Leasehold improvements – over the life of the lease Fixtures and fittings – 25% reducing balance basis Computer and other equipment – 25% straight line basis Website – 33[1] /3% straight line basis

e) Stocks

Stocks are valued at the lower of cost and net realisable value.

9

BEAR PIT THEATRE LTD

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

3. INCOME FROM DONATIONS

2023 2022
Unrestricted Restricted Total Total
funds funds
£ £ £ £
Donations and sponsorship 3,901 - 3,901 704
Grants - 5,000 5,000 1,948
Gift Aid 938 - 938 -
────── ────── ────── ──────
£ 4,839 £ 5,000 £ 9,839 £ 2,652
══════ ══════ ══════ ══════

In 2022 £704 was attributable to unrestricted funds and £1,948 was attributable to restricted funds.

4. INCOME FROM CHARITABLE ACTIVITIES

Performance income 34,117 - 34,117 13,672
Theatre hire 16,289 - 16,289 3,816
Cinema 210 - 210 -
Bar 17,721 - 17,721 9,091
Deposit account interest 19 - 19 1
────── ────── ────── ──────
£ 68,356 £ - £ 68,356 £ 26,580
══════ ══════ ══════ ══════

In 2022 all income from charitable activities was attributable to unrestricted funds.

5. EXPENDITURE ON CHARITABLE ACTIVITIES

Advertising 2,371 - 2,371 1,536
Bar expenses 10,766 - 10,766 4,568
Community project - - - 1,000
Depreciation 8,033 4,589 12,622 12,891
General expenses 872 - 872 943
Governance costs (see note 6) 8,109 - 8,109 5,065
Heat and light 4,825 - 4,825 2,214
Insurance 1,747 - 1,747 1,602
Performance costs 16,360 - 16,360 5,204
Rent 12,809 - 12,809 8,663
Repairs and renewals 4,148 - 4,148 4,081
Ticketing 2,164 - 2,164 1,041
────── ────── ────── ──────
£ 72,204 £ 4,589 £ 76,793 £ 48,808
══════ ══════ ══════ ══════

In 2022 £42,911 of the expenditure was charged to unrestricted funds and £5,897 to restricted funds.

10

BEAR PIT THEATRE LTD

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

6. GOVERNANCE COSTS

2023 2022
Unrestricted Restricted Total Total
funds funds
£ £ £ £
Bank charges 1,279 - 1,279 1,413
Computer expenses 1,464 - 1,464 933
General expenses 13 - 13 13
Meeting expenses 62 - 62 57
Professional fees 4,800 - 4,800 2,400
Subscriptions 266 - 266 249
Bank loan interest 225 - 225 -
────── ────── ────── ──────
£ 8,109 £ - £ 8,109 £ 5,065
══════ ══════ ══════ ══════

In 2022 all governance costs were charged to unrestricted funds.

7. NET INCOME FOR THE YEAR

2023 2022
£ £
This is stated after charging :
Operating leases £ 10,009 £ 5,863
Depreciation £ 12,622 £ 12,891
Independent Examination £ 4,800 £ 2,400
══════ ══════

8. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7), all of whom were directors/ trustees. No member of the board of trustees received any emoluments or reimbursed expenses.

9. CORPORATION TAX

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act to the extent that these are applied to its charitable objects.

11

BEAR PIT THEATRE LTD

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

10. TANGIBLE FIXED ASSETS

Leasehold Computer Computer
Website
Website		 Fixtures Fixtures Total
improvements and other and fittings
equipment
Cost : £ £ £ £
£
1 April 2022 77,314 3,128 5,760 60,378
146,580
Additions - 8,577 - -
8,577
────── ────── ──────
──────
──────
31 March 2023 77,314 11,705 5,760 60,378
155,157
────── ────── ──────
──────
──────
Depreciation :
1 April 2022 52,126 3,128 5,727 52,200
113,181
Charge for the year 8,400 2,144 33 2,045
12,622
────── ────── ──────
──────
──────
31 March 2023 60,526 5,272 5,760 54,245
125,803
────── ────── ──────
──────
──────
Net book value :
31 March 2023 £ 16,788 £ 6,433 £ -
£		 6,133
£ 29,354
══════ ══════ ══════
══════
══════
31 March 2022 £ 25,188 £ - £ 33
£		 8,178
£ 33,399
══════ ══════ ══════
══════
══════
11. DEBTORS AND PREPAYMENTS
2023 2022
Unrestricted
Restricted		 Total Total
funds funds
£ £ £ £
Performance income 7,248 - 7,248 556
Theatre hire 2,381 - 2,38 917
Cinema 45 - 45 -
Gift Aid 938 - 938 -
Prepayments 1,381 - 1,381 2,987
────── ────── ──────
──────
£ 11,993 £ - £ 11,993 £ 4,460
══════ ══════ ══════
══════
12. CASH AT BANK AND ON DEPOSIT
Lloyds current account 5,129 - 5,129 7,405
Lloyds deposit account 13,716 - 13,716 12,001
Cash in hand 200 - 200 200
────── ──────- ────── ──────
£ 19,045 £ - £ 19,045 £ 19,606
══════ ══════ ══════ ══════
13. CREDITORS :amounts falling due within one year
Accruals 5,965 - 5,965 2,160
Other creditors 4,110 - 4,110 4,978
────── ──────- ────── ──────
£ 10,075 £ - £ 10,075 £ 7,138
══════ ══════ ══════ ══════

12

BEAR PIT THEATRE LTD

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

14. CREDITORS : amounts falling due after more than one year

2023 2022
Unrestricted
Restricted		 Total Total
funds Funds
£ £ £ £
Coronavirus Bounce Back Loan
6,000		 - 6,000 8,000
────── ────── ────── ──────
£ 6,000 £ - £ 6,000 £ 8,000
══════ ══════ ══════ ══════
15. ANALYSIS OF CHARITABLE FUNDS
Balance Income Expenditure Balance
1 April 2022 31 March 2023
Current year
£		 £ £ £
Unrestricted funds
33,249		 73,195 72,204 34,240
Restricted funds
10,609		 5,000 4,589 11,020
────── ────── ────── ──────
£ 43,858 £ 78,195 £ 76,793 £ 45,260
══════ ══════ ══════ ══════
Balance Income Expenditure Balance
1 April 2021 31 March 2022
Previous year
£		 £ £ £
Unrestricted funds
48,876		 27,284 42,911 33,249
Restricted funds
14,558		 1,948 5,897 10,609
────── ────── ────── ──────
£ 63,434 £ 29,232 £ 48,808 £ 43,858
══════ ══════ ══════ ══════
Analysis of movements in restricted funds – current year
Balance Income Expenditure Balance
1 April 2022 31 March 2023
£ £ £ £
Grant towards lighting
200		 - 50 150
Seat sponsorship
771		 - 155 616
Transformation Project: phase 2
7,435		 - 2,478 4,957
Theatres Trust Grant
1,255		 - 419 836
Community cinema
948		 5,000 1,487 4,461
────── ────── ────── ──────
£ 10,609 £ 5,000 £ 4,589 £ 11,020
══════ ══════ ══════ ══════

13

BEAR PIT THEATRE LTD

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

15. ANALYSIS OF CHARITABLE FUNDS (CONTINUED)

Analysis of movements in restricted funds – previous year

Balance Income Expenditure Balance
1 April 2021 31 March 2022
£ £ £ £
Grant towards lighting 300 - 100 200
Seat sponsorship 1,157 - 386 771
Transformation Project: phase 2 9,913 - 2,478 7,435
Theatres Trust Grant 2,085 - 830 1,255
Town Trust Grant 1,103 - 1,103 -
Community Cinema - 948 - 948
Town Trust Grant: community
project - 1,000 1,000 -
────── ────── ────── ──────
£ 14,558 £ 1,948 £ 5,897 £ 10,609
══════ ══════ ══════ ══════

The grant towards lighting fund was established in 2014 with a grant from Stratford District Council to purchase lighting.

The seat sponsorship fund was established in 2015 to purchase seating.

The transformation project: phase 2 was established in 2016 with grants towards upgrading the backstage area of the theatre.

The Theatres Trust grant fund was established in 2018 with a grant to install loading doors and a cooling system in the auditorium.

In 2022, £1,000 was received from the Town Trust to be used towards the costs of the Here Comes the Sun community project.

The community cinema fund was established in 2022 with a grant of £948 received from One Stop Community Partnership to be used towards purchasing a cinema screen. A further grant of £5,000 was received in the year to 31 March 2023 from the Town Trust to purchase cinema equipment.

14

BEAR PIT THEATRE LTD

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

16. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fixed assets
Stock
Debtors
Bank
Creditors		 2023
2022
Unrestricted
funds
Restricted
funds
Total
Unrestricted
funds
Restricted
funds
Total
£
£
£
£
£
£
18,484
10,870
29,354
23,888
9,511
33,399
943
-
943
1,531
-
1,531
11,993
-
11,993
4,460
-
4,460
18,895
150
19,045
18,508
1,098
19,606
(16,075)
-
(16,075)
(15,138)
-
(15,138)
──────
──────
──────
──────
──────
──────
£ 34,240
£ 11,020
£ 45,260
£ 33,249
£ 10,609
£ 43,858
══════
══════
══════
══════
══════
══════

17. GUARANTEE

Bear Pit Theatre Ltd is incorporated under the Companies Act 2006 and, not having a share capital, is limited by guarantee. The guarantee of each member is limited to a maximum of £1 and is for a maximum period of twelve months after ceasing to be a member. The position at the year end concerning members giving a guarantee was as follows :

2023 2022
Number of members 6 7
══════ ══════
Total members’ guarantees - members 6 7
- retired members 3 -
────── ──────
£ 9 £ 7
══════ ══════

18. TRANSACTIONS WITH RELATED PARTIES

There were no related party transactions in the year.

19. OBLIGATIONS UNDER LEASING AGREEMENTS

The following payments are committed under non-cancellable operating leases:

Total Total
31 March 31 March
2023 2022
£ £
Land and Buildings
Expiring:
Within 1 year 11,051 10,010
Between 1 and 5 years 14,537 23,009
────── ──────
£ 25,588 £ 33,019
══════ ══════

15