Charity Registration No. 1164913
Company Registration No. CE005896 (England and Wales)
TALISMAN THEATRE COMPANY
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
TALISMAN THEATRE COMPANY
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Nigel Elliott Richard Thacker Stephen Duckham Philip Bowser Charity number 1164913 Company number CE005896 Principal address Barrow Road Kenilworth Warwickshire CV8 1EG Registered office Barrow Road Kenilworth Warwickshire CV8 1EG Independent examiner Flemons & Co Limited 70 Priory Road Kenilworth Warwickshire CV8 1LQ
TALISMAN THEATRE COMPANY
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 13 |
TALISMAN THEATRE COMPANY
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 JULY 2021
The Trustees present their report and financial statements for the year ended 31 July 2021.
The financial statements have been prepared in accordance with the accounting policies set out in the note s to the financial statements and comply with the charity 's governing document, the Companies Act 2006 and “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 (FRS 102)” (as amended for accounting periods commencing from 1 January 2016)
Objectives and activities
To present, promote, organise, provide, manage and produce such plays, dramas, comedies, operas, operettas, burlesques, films, broadcasts, concerts, musical pieces, puppet shows, ballets, entertainments and exhibitions, whether on any premises of the CIO or elsewhere, as are conducive to the promotion, maintenance, improvement and advancement of education or to the encouragement of the Arts.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance Financial review
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the current activities while consideration is given to ways in which additional funds may be raised.
This policy has served us well during the Pandemic and this level of reserves has been maintained throughout the reporting year despite having none of our usual income.
The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
The charity is a Charitable Incorporated Organisation.
The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Nigel Elliott Richard Thacker Brian Tuck Stephen Duckham Philip Bowser
(Resigned 1 September 2020)
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TALISMAN THEATRE COMPANY
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021
The Charitable Incorporated organisation (CIO) has a Governing Document (the Constitution of the CIO) and a subsidiary set of “Rules of the CIO”. The Constitution provides that the CIO shall have a committee that will be responsible for the general running of the CIO (“the Executive Committee”). Members of the Executive Committee are appointed annually by the members of the CIO at the Annual General Meeting, in accordance with the Rules of the CIO from time to time in place. The Executive Committee meets in the period immediately following each Main House Production.
Charity Trustees are then appointed by the Executive Committee, from amongst their number. The Members, or the Charity Trustees, may also at any time decide to appoint a new Charity Trustee, whether in place of a Trustee who has retired or been removed in accordance with clause [15] (Retirement and removal of charity trustees) of the Constitution, or as an additional Charity Trustee, provided that the maximum number of 12 Trustees is not exceeded.
The Charity Trustees meet quarterly. They are satisfied that the CIO has continued to work within the Purpose and Objectives of the Charity and have continued to enhance Financial and Health and Safety policies and procedures. Additionally, this year, the Trustees have produced new Policies and Procedures covering:
Anti-Bullying and Harassment.
Vulnerable Adults Safeguarding.
Computer, Internet and Email use.
Financial Procurement, Delegated controls, Financial Governance.
Theatre Overall Risk Assessment, Theatre Fire Risk Assessment.
Coronavirus Risk Assessments as required for example: Tea with The Tali and Youth Theatre Sessions.
All of the Theatre’s Policies were also made available on our Website and their annual reviews are diarised to ensure that they are carried out in a timely manner.
Child Protection: -
There have been no reported incidents during the year.
The Trustees have continued to work to ensure that the building is a safe place in which to carry out our activities.
Activities of the Charity
The period under review will be notable for the impact that Covid-19 had on theatres country-wide. Government regulations effectively closed theatres in March 2020. The impact on the theatre was the inevitable loss of revenues, but steps were taken to reduce overheads as rapidly as possible.
The Trustees and the Executive Committee continued to meet (albeit by video link) to ensure safe and continued maintenance and operation of the theatre during the reporting period.
There have been a number of meetings during the year with the Architect, Quantity Surveyor, Electrician, Heating and Ventilation consultants and others to bring the Phase 1 project to the point where the works could be put out to tender.
In determining the re-opening of the Theatre for productions, The Trustees and the Executive Committee considered the economic and health & safety implications along with the possibilities of having to cancel at short notice due to sickness or changing government advice. Added to these was the wish to commence the Phase 1 building works and the assessed need to implement mechanical ventilation in the Auditorium.
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TALISMAN THEATRE COMPANY
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021
There have been a number of meetings during the year with the Architect, Quantity Surveyor, Electrician, Heating and Ventilation consultants and others to bring the Phase 1 project to the point where the works could be put out to tender.
In determining our ‘Coronavirus Plan’ we concluded that our Auditorium in its present unventilated form would not be acceptable in the future. For the safety of our Members and audience we needed to install some form of mechanical ventilation and air filtration. Apart from the health implications for all who take part in our activities, the possibility of having to cancel shows at short notice due to infections was not an acceptable risk. We invited a number of consultants to advise on the possibilities and we are delighted that this work is scheduled to be completed before we re-open.
In consideration of the above, it was decided that the best plan was to concentrate on re-opening in December 2021 with our Traditional Pantomime.
A considerable increase in fund raising effort and grant applications took place during the period under review to facilitate the Phase 1 building works. Our Quantity Surveyor’s (QS) estimate of £275,000 for Phase 1 was matched by secured funding from outside sources and our own internal funds. The tenders submitted have been materially affected by shortages in materials, leading to large price increases. The Trustees will continue to work with the QS and the selected tenderer to achieve the best value for money outcome on this first phase of our development. In the meantime, preparations for the Phase 1 development were commenced within the theatre by our own volunteers.
It was also decided that we must do all that we are can to enable our Youth Theatre Group to continue their activities whenever government advice allowed. We achieved this by putting in place the necessary mitigations, risk assessments and precautions.
During the reporting period, no Main House Productions were staged, and no Films were screened.
The “Tea with The Tali” weekly short plays have been widely welcomed and enjoyed and we have been able to continue these throughout the reporting period. Some 49 Plays have been produced in this format. We have been particularly pleased that we have been able to welcome work by Kenilworth School and also the African Womens Playwright Group. We received national media coverage of this work in “Sardines” magazine over the summer.
We also ‘streamed’ our customary ‘Christmas Anthology’ online and we also screened a previously recorded ‘Mother Goose’ Pantomime online during the Christmas period.
We carried out the following improvements …
A new Hot Water system was installed to enable the recovery old tanks above the Foyer area and that whole area has been cleared over the summer, along with recovery of electrical wiring, all of which ensured that we were ready to start the Phase 1 building work at the earliest opportunity.
Health and Safety: -
Inspections of our Stage Rigging, Fire Alarm, Fire Extinguisher and Emergency Lighting systems have been carried out, or have been scheduled to be carried out prior to Pantomime, by accredited Industry Professionals.
The Trustees' r eport was approved by the Board of Trustees.
..............................
Richard Thacker
Dated: .........................
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TALISMAN THEATRE COMPANY
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF TALISMAN THEATRE COMPANY
I report to the Trustees on my examination of the financial statements of Talisman Theatre Company (the charity ) for the year ended 31 July 2021.
Responsibilities and basis of report
As the Trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity 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 the charity ’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act) . In carrying out my examination I have followed all the applicable 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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1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements 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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4 the financial statements 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 financial statements to be reached.
Flemons & Co Limited
70 Priory Road Kenilworth Warwickshire CV8 1LQ
Dated: .........................
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TALISMAN THEATRE COMPANY
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2021
| Unrestricted Restricted funds funds 2021 2021 Notes £ £ Income from: Donations 2 25,706 28,000 Charitable activities 3 15,136 - Investments 4 193 - Total income 41,035 28,000 Expenditure on: Raising funds 5 35,948 - Charitable activities 6 295 - Total resources expended 36,243 - Gross transfers between funds - - Net income for the year/ Net movement in funds 4,792 28,000 Fund balances at 1 August 2020 366,980 - Fund balances at 31 July 2021 371,772 28,000 |
TotalUnrestricted Restricted funds funds 2021 2020 2020 £ £ £ 53,706 - - 15,136 112,832 - 193 672 - 69,035 113,504 - 35,948 56,264 - 295 26,980 - 36,243 83,244 - - 22,927 (22,927) 32,792 53,187 (22,927) 366,980 313,793 22,927 399,772 366,980 - |
Total 2020 £ - 112,832 672 113,504 56,264 26,980 83,244 - 30,260 336,720 366,980 |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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TALISMAN THEATRE COMPANY
BALANCE SHEET
AS AT 31 JULY 2021
| Notes Fixed assets Tangible assets 10 Current assets Stocks 11 Debtors 12 Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets Total assets less current liabilities Income funds Restricted funds Unrestricted funds |
2021 £ 893 5,728 244,892 251,513 (6,631) |
£ 154,890 244,882 399,772 28,000 371,772 399,772 |
2020 £ 1,339 6,328 221,397 229,064 (9,735) |
£ 147,651 219,329 366,980 - 366,980 366,980 |
|---|---|---|---|---|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 July 2021.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on .........................
..............................
Nigel Elliott Trustee
Company Registration No. CE005896
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TALISMAN THEATRE COMPANY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021
1 Accounting policies
Charity information
Talisman Theatre Company is a Charitable Incorporated Organsation registered in England and Wales. The registered office is Barrow Road, Kenilworth, Warwickshire, CV8 1EG.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "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 (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.3 Incoming resources
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
1.4 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixed Assets Various
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TALISMAN THEATRE COMPANY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021
1 Accounting policies
(Continued)
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
1.5 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .
1.6 Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell . Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
2 Donations
| Unrestricted Restricted funds funds 2021 2021 £ £ Donations and gifts - 28,000 Grants relating to coronavirus 25,706 - 25,706 28,000 |
Total 2021 £ 28,000 25,706 53,706 |
Total 2020 £ - - - |
|---|---|---|
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TALISMAN THEATRE COMPANY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021
3 Charitable activities
| 4 5 |
Cinema Box Office Bar Front of House Lettings Donations & Sponsorship Membership and Youth Theatre Subscriptions Programs Streaming 100 Club Investments Interest receivable Raising funds Trading costs Support costs |
2021 £ - - - - 1,492 9,299 3,323 67 450 505 15,136 2021 £ 193 2021 £ 35,948 35,948 |
2020 £ 1,745 55,252 16,118 4,826 2,502 25,915 4,606 1,868 - - 112,832 2020 £ 672 2020 £ 56,264 56,264 |
|---|---|---|---|
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TALISMAN THEATRE COMPANY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021
6 Charitable activities
| Cinema Box Office Bar Front of House Programmes Ticketsource Charges 100 Club |
2021 £ - - - - - 42 253 295 295 |
2020 £ 618 11,943 7,414 2,170 1,664 3,171 - 26,980 26,980 |
|---|---|---|
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TALISMAN THEATRE COMPANY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021
7 Support costs
| Support costs Governance costs £ £ Depreciation 12,102 - Electricity 2,131 - Cleaning & Pest control 4,112 - Insurance 5,301 - Theatre Maintenance 5,095 - Stage Expenses 1,155 - Bank Charges 126 - Credit Card Charges 730 - Publicity 623 - Rehearsal Room Hire - - Perusal scripts 10 - Subscriptions 512 - Officials' expenses 316 Telephone 400 - Rates and Services 602 - Postage 197 - Stationery 109 - Prior Year Costs (404) - Partial Exemption VAT (778) - Talismags 63 - Youth Group Costs 198 - Legal and professional - 3,348 32,600 3,348 Analysed between Trading 32,600 3,348 |
2021 £ 12,102 2,131 4,112 5,301 5,095 1,155 126 730 623 - 10 512 316 400 602 197 109 (404) (778) 63 198 3,348 35,948 35,948 |
2020 £ 12,064 4,652 5,904 5,776 12,075 2,322 64 918 2,712 120 41 1,060 970 912 1,734 698 455 - 1,860 260 240 1,427 56,264 56,264 |
|---|---|---|
8 Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
9 Employees
The average monthly number of employees during the year was:
| 2021 | 2020 | |
|---|---|---|
| Number | Number | |
| Staff | 1 | 1 |
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TALISMAN THEATRE COMPANY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021
| 9 Employees There were no employees whose annual remuneration was £60,000 or more. 10 Tangible fixed assets Cost At 1 August 2020 Additions Disposals At 31 July 2021 Depreciation and impairment At 1 August 2020 Depreciation charged in the year Eliminated in respect of disposals At 31 July 2021 Carrying amount At 31 July 2021 At 31 July 2020 11 Stocks Finished goods and goods for resale 12 Debtors Amounts falling due within one year: Prepayments and accrued income 13 Creditors: amounts falling due within one year Other taxation and social security Accruals and deferred income |
(Continued) Fixed Assets £ 216,538 19,341 (3,957) 231,922 68,887 11,924 (3,779) 77,032 154,890 147,651 2021 2020 £ £ 893 1,339 2021 2020 £ £ 5,728 6,328 2021 2020 £ £ 5,025 8,213 1,606 1,522 6,631 9,735 |
|---|---|
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TALISMAN THEATRE COMPANY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021
| 14 Analysis of net assets between funds Unrestricted Restricted 2021 2021 £ £ Fund balances at 31 July 2021 are represented by: Tangible assets 154,890 - Current assets/ (liabilities) 216,882 28,000 371,772 28,000 |
TotalUnrestricted Restricted 2021 2020 2020 £ £ £ 154,890 147,651 - 244,882 219,329 - 399,772 366,980 - |
Total 2020 £ 147,651 219,329 366,980 |
|---|---|---|
15 Related party transactions
There were no disclosable related party transactions during the year (2020 - none) .
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