The Milton Rooms (A Company Charity limited by guarantee) (Charity Registration Number 1162515) (Registered Company Number 09117039) Annual Report & Financial Statements for the year ended 31st March 2025
The Milton Rooms (A Company Charity limited by guarantee) Contents Index Page Directors (Trustees) Annual Report Independent Examiners Report Statement of Financial Activities Balance Sheet Notes to the Accounts
Directors. Report (incorporating the Trustees, Annual Report) For the year ended: 31st March 2025 The Board of Trustees, who are also the directors of the charity for the purposes of company law, present their annual report and financial statements for the year ended 31 st March 2025. Objectives and activities Summary of the objects of the charity set out in its governing document The objectives of the charity are: a) to provide facilities, in the interests of social welfare, for recreation or other leisure occupation for the benefit of inhabitants of the area of benefit who have need of such facilities by reason of youth, age, infirmity, disability, financial hardship or social and economic circumstances, or the public at large, with the object of improving their condition of life- b) to advance the education of the public in the area of benefit, and in particular, but without limitation, by the provision of an Arts Centre for visual and performing arts; c) to preserve whatever of the historical, architectural and constructional heritage of the town of Malton that is of particular beauty or historical, architectural or constructional interest, and in particular, but without limitation, the buildings known as the "Milton Rooms" Summary of the main activities undertaken for the public benefit in relation to these objects The Milton Rooms provides both a broad range of events with a programme that is designed to appeal across the Community and an important hub that the Community can use to host their own events. The Milton Rooms offers opportunities for people to engage with the wider community through volunteering, further developing their social, administrative, technical and other skills. By continuing to use and maintain the building, the Milton Rooms ensures the ongoing sustainability of a Grade11 listed building in the heart of a Conservation Area. The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the objectives and activities and in the planning of future activities Achievements and performance Summary of the main achievements of the charity during the year Chair's report We set out to be the best community and entertainment venue in Ryedale- I firmly believe that all the hard work is now paying rewards. We continue to reach out to newer audiences with our varied programme of events. We are now attracting acts of a greater depth and quality and these are obviously being appreciated by our loyal followers as well as attracting a new audience. TV and radio personalities and tribute bands continue to attract the largest audiences with the resultant good returns on bar takings. 'Lazy Sundays, and 'Open Mic, are well supported and fulfil our aim to help and encourage local talent. Thankfully talent is abundant and pleasing to see. Our thanks go out to Liz at Kemps Bookstore for bringing authors of a high calibre to our venue. She is very relaxed and easy to work with. The reduction in the number of 'Dry Hires, may well be a sign of the times - but we hope to encourage and promote in the year to come. Unfortunatley we have had to spend a considerable amount of money on upgrading of some of our technical equipment in the latter part of the year. I cannot over emphasize the necessity for these works - but we can rest assured that we are now fully compliant with all legislation. Although having an impact on our resources, I believe this to be money well spent and should stand us in good stead in the future.
We have adapted our approach to social media, promoting events as and when required. Good engagement and Facebook continues to help us advertise with minimal outlay. The Assembly Rooms now has secondary glazing to all windows. This, along with the purchase of a portable heater, has improved the viability of the space and the room. It's reassuring to note that we are getting repeat bookings from local business groups and charities. Kemps, Dance Expression, Ryedale Dog Rescue, Rotary Club and Ryedale Festival to name a few. It is encouraging that the reception and feedback received by various groups and artists after their performances at our venue then leads them to request a retum visit. My thanks go out yet again to our caretaker, office staff, technical team, volunteers and trustees. Everyone has an important part to play in the continuing success of our wonderful venue. Financial Review The results for the year ending 31 st March 2025 show a deficit on unrestricted funds of £9,496 (after transfer of £8,000 from designated) and a deficit on restricted funds of £98,676. This leaves the designated funds with a £2,000 provision for potential wind down costs if required. The deficit in year on unrestricted funds mainly reflects a drop in room hire (almost 30 % ) and some changes this year to expenditure. These being; increased depreciation charges due to capital works funded by the charity (mainly Assembly Rooms windows and remedial works on the lighting riggs) and the decision to pay for the services of a Venue Manager from June 2024 to assist trustees in the increasing workload of events management and volunteer manning thereof. The deficit on restricted funds reflects the continued depreciation of the refurbishment cost which has been funded by a grant received from Ryedale District Council. All of this has been spent and capitalised under Fixtures, Fittings and Equipment on the Balance Sheet and is being depreciated over five years, this year representing year four. This brings the cumulative reserves to £129,634, comprising; unrestricted reserves of £28,502; designated reserves of £2,000 and restricted reserves of £99,132. The breakdown of these funds is detailed under note 13 to the accounts Movement of funds,. There are no project funds in deficit at the end of the period. The level of free reserves, that is those unrestricted funds not tied up in tangible fixed assets, nor held in designated funds, now stands at £86 at 31st March 2025. This is the lowest balance experienced for some time however the trustees are confident that there are no outstanding capital works to prioritise this year and they are expecting a busy year ahead of events, as demonstrated by the amount of ticket sales sold in advance and held in the balance sheet under deferred income. Until reserves are built up to a more secure level, the trustees are focussing on the 'sell out, events based on past history to minimise risk and ensure that the charity can run viably for the year ahead. As noted above, the trustees have retained £2,000 in designated funds to cover the potential wind down costs in the event of closure. The charity does not have any employed staff hence no redundancy provision is required however the trustees feel that it is prudent to designate some funds for the financial and administrative costs of winding down the charitable company should the need arise. Plans for the future Firstly, I would like to look back and thank everyone that has been involved with the organisation, housekeeping, planning and general operation of the Milton Rooms over the past few years. They should all take heart in our present position. Our aim this year should be to consolidate and improve our financial position. Expect little expenditure We still need help when it comes to funding - the ideal situation would be to have a Fund Manager. We are in discussion with the Wesley Centre to possibly join forces to assist with the promotion, marketing and sale of tickets etc.
Structure, governance and management Governing Document How the charity is constituted Trustee selection methods Memorandum and Articles of Association Charity, Company limited by guarantee The Articles of Association provide for three organisations to appoint one representative each to the Board of Trustees. Ryedale District Council, Malton Town Council and Norton Town Council. The remaining 10 places are filled by trustees who are elected by the members. Reference and Administration details Charity name Other names the charity is known by Registered Charity number Registered Company number Charity's principal address (& registered office) The Milton Rooms Formerly the Milton Rooms Charitable Trust 1162515 9117039 (England and Wales) Market Place Malton North Yorkshire Y017 7LX Independent Examiner Tracy Bramley ACMA CGMA Orchard House 72 Low Moorgate Rillington, Malton North Yorkshire Y017 8JW Bankers Virgin Money Jubilee House Newcastle upon Tyne NE3 4PL Names of the Directors (Trustees) who manage the charity Trustee Name Office (if any) Dates acted If not for whole year Name of person (or body) entitled to appoint trustee (if any) Ray King Kerry Ennis Ann Spencer Chris Buxton Barbara Murray Martin Sunley Margaret Pegg Malcolm Kirton lan Hughes Chair Resigned 1916124 Malton Town Council Norton Town Council Resigned 718/24 Resigned 2517124 Appointed 22110124 Company Secretary Barbara Murray
Trustee's responsibilities in relation to the financial statements The charity trustees (who are also the directors of The Milton Rooms for the purposes of company law) are responsible for preparing a trustees, annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure of the charitable company for the year. In preparing the financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP; make judgements and estimates that are reasonable and prudent; state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charitable company will continue on that basis. The trustees are responsible for keeping proper accounting records that 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. They are also responsible for safeguarding the assets of the charitable company and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. Disclosure of infonnation In accordance with company law, as the company's directors, each of the Board of Trustees certify that so far There is no relevant information of which the charity's Independent Examiner is unaware; As directors of the company, they have taken the necessary steps to be aware of the information, which would be relevant for independent examination purposes and have communicated them to the Independent Examiner. Exemptions The trustees have taken advantage of the exemption available to small companies, including the audit exemption (as detailed on the balance sheet) Declaration The trustees declare that they have approved the trustees. annual report above. Signed on behalf of the charity's trustees Ray King Date 23}alzc)Z (Chair)
Independent examiner's report to the trustees of The Milton Rooms I report on the accounts of: for the year ended: The Milton Rooms 31st March 2025 which are set out on pages 6 to 15. Responsibilities and basis of report As the charity's 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 charity'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 material 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 Trust as required by section 386 of the Act. or 2 the accounts do not accord with those records 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 r8ached. Tracy Bramley ACMA CGMA Orchard House 72 Low Moorgate Rillingto Malton North Yorkshire Y017 8JW Date Q 3/9/ IS
The Milton Rooms (Charity Registration Number 1162515) Statement of Financial Activities for the year ended: (incorporating Income & Expenditure account) 31st March 2025 Note Unrestricted Designated Restricted funds funds funds Total 2025 Total 2024 Income and endowments from: Donations and legacies Charitable activities Other trading activities Investments Other 3,319 126,653 458 3,319 126,653 458 3.374 136,182 1,152 Total income 130,430 130,430 140,708 Expenditure on: Raising funds Charitable activities 147,926 102 236,033 98,676 246,602 Total expenditure 147,926 98,676 246,602 236.135 Net incomel(expenditure) 17,496 (98,676 (116,172 (95,427 Transfers between funds 8,000 (8,000) Net movement in funds (9,496 (8,000) (98,676) (116,172 (95,427) Total funds brought forward Total funds carried forward 37,998 10,000 197,808 245,806 341,233 28,502 2,000 99,132 129,634 245,806
The Mifton Rooms (Charity Registration Number 1162515) Balance Sheet as at= 31st March 2025 Note 2025 2024 Fixed Assets Tangible assets 127,314 209,852 Total Fixed Assets Current Assets Cash at bank and in hand Debtors & prepayments Stock 127,314 209,852 17,984 7,507 4,430 29,921 10 41,517 6,238 3,169 Total Current Assets Current Liabilities: Amounts falling due within one year Creditors and accruals 50,924 11 27,601 14,970 Net Current Assetsl(Liabilities) Current Liabilities: Amounts falling due after more than one year Creditors and accruals 2,320 35,954 Net Assetsl(Liabilities) 129,634 245,806 Funds of the Charity Unrestricted Funds Designated Funds Restricted Funds 13 28,502 2,000 37,998 10,000 197,808 99,132 Total Funds Carried Forward 13 129,634 245,806 The trustees are satisfied that the company is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the audit of the financial statements for the year by virtue of section 477, and that no member or members have requested an audit pursuant to section 476 of the Act. The directors (trustees} acknowledge their responsibilities for: i) ensuring the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006; and ii) preparing financial statements which give a true and fair view of the state of affairs of the company at the end of each financial year and of its profit and 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 the 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 United Kingdom and Republic of Ireland (Charities SORP (FRS 102)). The financial statements were approved by the trustees on 23 JL*'T and signed on their behalf by: Date Chair; Ray King
The Milton Rooms (Charity Registration Number 1162515) Notes to the accounts for the year ended: 31st March 2025 1 Basis of preparation 1.1 Basls of accounting The financial statements are prepared under the historical cost convention. These accounts have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordan with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (Charities SORP (FRS 102)) and the Companies Act 2006. The charity constitutes a public benefit entity as defined by FRS 102. 1.2 Going concern The financial statements have been prepared on a going concern basis. 2 Accounting policies 2.1 Income Recognition of income These are induded in the Statement of Financial Activities (SOFA) when: the charity becomes entitled to the resources; it is more likely than not that the trustees will receive the resour$. and the monetary value can be measured with sufficient reliability. Offsetting There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102. Grants and donations Grants and donations are only included in the SOFA when the charity has evidence of entitlement to the resources and receipt is probable. Government grants The charity has received government grants in the reporting period. Contractual income and performance related grants In the case of contractual income and performance related grants, income is only recognised once the charity has provided the specified services or perfomance related conditions. Volunteer help The value of any voluntary help received Fs not induded in the accounts but is described in the Trustees, Annual Report. Investment income This is included in the accounts when reIpt is probable and the amount receivable can be measured reliably.
The Milton Rooms (Charity Registration Number 1162515) Notes to the accounts for the year ended: 31st March 025 2.2 Expenditure and Liabilities Raising funds Cost of raising funds comprise those costs associated with attracting voluntary income. Charitable activities Charitable activities expenditure comprises those costs incurred by the charity in the deliv services. It includes both costs that can be allocated directly to such activities and those necessary to support them. Liabllity recognltion Liabilities are recognised where it is more likely than not that there is a legal or constructi charity to pay out resources and the amount of the obligation can be measured with reaso Redundancy cost The charity made no redundancy payments during the reporting peri(xl. 2.3 Assets Tangible fixad assets for use by the charity These are capitalised if they can be used for more than one year and cost at least £1,000. Depreciation is provided at rates to write off the cost of the asset over a five year period le ry of its activities and osts of an indirect nature obligation committing the able certainty. They are valued at cost. ving a nil residual value. Taxatlon The company is a registered charity and is exempt from corporation tax on its charitable ac Fund accounting Unrestricted funds are funds which are available for use at the discretion of the trustees in objectives of the charity. Designated funds are unrestricted funds that are resources set aside for specific purposes trustees. ivities. rtherance of the general t the discretion of the Restricted furKls are funds which can only be used for particular restricted purposes within t Restrictions arise when specified by the donor. Further explanation of the nature and purpose of each fund is induded in the notes to the fi Leasing commltments Rentals paid under operating leases are charged to the Statement of Financial Activities on the period of the lease. e objects of the charity. ancial statements. straight line basis over
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The Milton Rooms (Charity Registration Number 1162515) Notes to the accounts for the year ended: 31st March 2025 5 Fees for examination of the accounts 2025 2024 Independent Examinerfs fees for reporting on the accounts Accountancy services paid to the Independent Examiner 550 4,176 550 3,822 6 Staff costs and emoluments 2025 2024 Gross salaries Employers National Insurance Pension Contributions Average number of employees (headcount) No employee received remuneration in excess of £60,000 (2024: Nil) The total employee benefits of the key management personnel of the charity were Nil (2024: Nil). 7 Defined contribution pension scheme When applicable, the charity operates a defined contribution pension scheme via NEST. There has been no staff employed this year hence no contributions payable by the charity to the scheme (2024.. Nil). 8 Fixed assets Fixtures, Fittings & Equipment Tangible fixed assets Total Cost or valuation At 1 st April 2024 Additions in year Disposals in year At 31st March 2025 507,491 24,465 507,491 24,465 531,956 531,956 Depreciation At 1 st April 2024 Charge for the year Eliminated on disposals At 31st March 2025 297,639 107,003 297,639 107,003 404,642 404,642 Net Book Value At 31st March 2025 127,314 127,314 At 31st March 2024 209,852 209,852 9 Cash at bank and in hand Total 2025 Total 2024 Current bank account Cash in hand Floats 17,224 50 710 17,984 40,737 50 730 41.517 12
The Milton Rooms (Charity Registration Number 1162515) Notes to the accounts for the year ended: 31st March 2025 10 Debtors and prepayments Debtors and prepayments Trade debtors Prepayments and accrued income 2025 2024 6,809 698 7,507 3,092 3,146 6,238 11 Creditors and accruals Analysi5 of creditors falling due wlthin one year Trade creditors Accruals & deferred income 2025 2024 3,335 24,266 27,601 3,676 11,294 14,970 12 Contingent Liabilities The charity has no contingent liabilities at 31 March 2025 (2024: None). 13 Movement of funds 13.1 Movement of major funds 2025 Balance Incoming resources Outgoing resources Balance bffwd Transfers clfwd Fund name Unrestricted Funds 37,998 37,998 3,000 7,000 10,000 130,430 130,430 147,926 147,926 8,000 8,000 (1,000) (7,000) (8,000) 28,502 28,502 2,000 Designated fund . wind down prov Designated fund - Contingency Restricted Funds 2,000 Musical Memories 234 234 Ryedale District Council Refurbishment grant 197,574 98.676 98,898 197,574 98,676 98,898 Total Restricted funds 197,808 98,676 99,132 Total Funds 245,806 130,430 246,602 129,634 Transfers between funds From To Reason Designated £ Amount Unrestricted funds Refurbishment complete so contingency can now be returned to unrestricted Reduction to wind down provision 7,000 1,000 8,000 13
The Milton Rooms (Charity Registration Number 1162515) Notes to the accounts for the year ended: 31st March 2025 2024 Balance Incoming r6sources Outgoing resources Balance blfwd Transfers clfwd Fund name Unrestricted Funds 29,748 29,748 140,708 140,708 137,458 137,458 5,000 5,000 37,998 37,998 Designated fund - wind down prov Designated fund - Refurbishment 3,000 12,000 15,000 3,000 7,000 10,000 (5,000) (5,000) Restricted Funds Musical Memories 234 234 Ryedale District Council Refurbishment grant 296,251 98,677 197,574 296,251 98,677 197,574 Total Restricted funds 296,485 98,677 197,808 Total Funds 341,233 140,708 236,135 245,806 Transfers between funds From To Reason Refurbishment complete so contingency can now be reduced to emergency repairs provision £ Amount Restricted Unrestricted 5,000 5.000 13.2 Detalls of Funds Held Unrestricted Funds The unrestricted funds represent the funds available for the general purposes of The Milton Rooms. Designat8d Funds - Wind down provision Reflect funds set aside from unrestricted fvnds to COV8r the potential wind down costs in the event of closure. Designated Funds - Refurbishment Now that the refurbishment is complete the designated fund for refurbishment has been transferred back to unrestricted general funds. Restricted Funds The current restricted funds are only available for the purposes specified for each fund, which are: Musical Memories Balance of funds on project providing singing workshops directed at isolated and elderly people. Refurbishment program Reflects capital funding provided by Ryedale District Council to refurbish the building and upgrade facilities. The funding is fully spent each year however, as the spend represents capital funding, it is being depreciated over 5 years, hence the balance remaining shows the remaining depreciation. 14
The Milton Rooms (Charity Registration Number 1162515) Notes to the accounts for the year ended: 31st March 2025 14 Net assets between funds Unrestricted Deslgnated Funds Funds Restricted Funds Total 2025 Balances at 31st March 2025 Fixed assets Current assets Current liabilities 28,416 27,687 27,601 28,502 98,898 234 127,314 29,921 27,601 129,634 2,000 2,000 99,132 Net assets between funds Unrestricted Designated Funds Funds Restricted Funds Total 2024 Balances at 31st March 2024 Fixed assets Current assets Current liabilities 12,278 40.690 14,970 37,998 197,574 234 209,852 50,924 14,970 245,806 10,000 10,000 197,808 15 Transactions with trustees and related parties None of the trustees have received payment for services during the year (2024: Nil) nor reimbursement for travel expenses (2024: Nil) There was one related party transaction in the reporting period for £675. being a payment to a trustee for building plan artwork (2024: £1.080 paid to a trustee for cleaning services whilst in office). 16 Control In the opinion of the trustees, no one paty controlled the company in the year. 15