**Company Registration Number: 09870347 Charity Registration Number: 1165991**
**TIP TOP MUSICALS LTD (A company limited by guarantee)**
## **REPORT AND FINANCIAL STATEMENTS**
**YEAR ENDED 31 AUGUST 2020**
**TIP TOP MUSICALS LTD ANNUAL REPORT YEAR ENDED 31 AUGUST 2020**
## **CONTENTS**
||Page|
|---|---|
|Directors' Report|1|
|Independent Examiner's Report|3|
|Statement of Financial Activities|4|
|Balance Sheet|5|
|Notes on Accounts|6|
**TIP TOP MUSICALS LTD DIRECTORS' REPORT FOR THE YEAR ENDED 31 AUGUST 2020**
The Trustees and Directors of the charitable company present their report along with the financial statements of the charity for the year ended 31 August 2019. The financial statements have been prepared in accordance with the accounting policies set out on page 16 of the financial statements and comply with the charity's Memorandum and Articles and applicable law. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (FRS 102) in preparing the annual report and financial statements of the charity.
## **Legal and administration details**
**Official name of charity:** Tip Top Musicals Ltd **Charity registration number:** 1165991 **Company registration number:** 09870347 **Registered Office:** The Forum Studio Theatre Hamilton Place Chester CH1 2BH **Directors and Trustees:** Christine Clegg Phil Cross Steve Davies Brian Fray Chris Griffiths (resigned November 2019) Rhian Lyon Robert Lyon Andrew Roberts Peter Swingler OBE Victoria Worthington Natalie Brett (appointed March 2020) **Bankers:** Unity Trust Bank Nine Brindleyplace Birmingham
1
**TIP TOP MUSICALS LTD DIRECTORS' REPORT FOR THE YEAR ENDED 31 AUGUST 2020**
## **Structure & Governance**
## **Governing document**
Tip Top Musicals Ltd is a registered charity and a company limited by guarantee governed by its Memorandum and Articles of Association dated 12th November 2015
## **Objects**
The object of the charity is to promote the advancement and improvement of general education in relation to all aspects of the art of drama, music and the development of public appreciation of such art.
## **Constitution**
The company is a company limited by guarantee and not having a share capital. Each member gives a guarantee to contribute a sum not exceeding £1 to the company should it be wound up. At 31 August 2020 there were 10 members.
## **Statement of Trustees' Responsibilities**
The trustees (who are also directors of Sheffield Theatres Trust for the purposes of company law) are responsible for preparing the Trustees' Annual Report (including the Strategic 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 trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these 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 (FRS 102);
- 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 concern basis unless it is inappropriate to
presume that the charitable company will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and 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 for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Andrew Roberts Tip Top Musicals Ltd**
Date: 27th April 2021
2
**TIP TOP MUSICALS LTD INDEPENDENT EXAMINER'S REPORT**
I report on the accounts of the Theatre for the Year ended 31st August 2020
## Respective responsibilities of Members of the Theatre and Examiner
As members of the Theatre, you are responsible for the preparation of the accounts you consider that the audit requirements of section 43(2) of the Charities Act 1993 (the Act) does not apply.
It is my responsibility to state on the basis of procedures specified in the General Directions given by the Charity Commissioners under section 43 (7) of the Act, whether particular matters have come to my attention.
## Basis of independent Examiner's Report
My examination was carried out in accordance with the general directions given by the Charity Commissioners. An examination includes review of the accounting records kept by the Theatre and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as members of the Theatre concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
## Independent Examiner's Statement
In connection with my examination, no matter has come to my attention:
1) Which gives me reasonable cause to believe that in any material respect the requirements: To keep accounting records in accordance with section 41 of the Act; and to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act.
2) To which in my opinion attention should be drawn in order to enable a proper understanding of the accounts to be reached.
**E HUGHES 1st May 2021**
3
**TIP TOP MUSICALS LTD**
## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES**
## **YEAR ENDED 31 AUGUST 2020**
|Notes
**Incoming Resources**
Incoming resources from charitable activities
1
Donations
Other trading activities
2
Investment Income
**Total Incoming Resources**
**Resources expended on raising funds:**
Charitable activities
3
Costs of goods sold
Other costs
4
**Total resources expended**
**Net Movement in Funds**
**Fund balances brought forward**
**Fund balances carried forward**|2020
£
124,928
610
37,516
188
163,241
83,325
10,024
66,720
160,069
3,173
136,463
**139,636**|2019
£
110,577
3,040
47,355
151|
|---|---|---|
|||161,123|
|||47,559
10,532
72,215|
|||130,306|
||||
|||30,817|
|||105,646|
|||**136,463**|
There are no recognised gains and losses other than the results for the year set out above.
There is no difference between the amounts stated above and their historical cost equivalents.
4
**TIP TOP MUSICALS LTD BALANCE SHEET**
## **31 AUGUST 2020**
|**FIXED ASSETS**
Park Street Studio
Fixtures & Fittings
**CURRENT ASSETS**
Debtors
Stock
Prepayments
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
**NET CURRENT ASSETS**
**CREDITORS - Due after one year**
Park Street Bonds
**NET ASSETS**
**CHARITY FUNDS**
Unrestricted Income Funds|2020
£
120,000
10,886
130,886
884
0
1,620
65,490
67,994
1,760
66,234
25,000
172,120
172,120|2019
£
120,000
14,497|
|---|---|---|
|||134,497
3,014
1,702
8,804
54,844|
|||68,364
8,914
59,450
25,000|
|||168,947|
||||
|||168,947|
The financial statements were approved and authorised for issue by the board of directors on XXXXX and signed on its behalf by:
**A. Roberts Director**
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**TIP TOP MUSICALS LTD NOTES ON ACCOUNTS YEAR ENDED 31 AUGUST 2020**
|1
**Incoming resources from charitable activities**
Ticket Sales - The Forum Studio Theatre
Annual Pantomime
Ticket Sales - other venues
2
**Other trading activities**
Box Office Commission
Café Bar
Social Events
Programme Sales
Theatre Hire
Park Street Rental Income
Misc Income
Coronavirus Business Grant
3
**Resources expended on charitable activities**
The Forum Studio Theatre Productions
Cancelled Production Costs
Annual Pantomime
Other Venue Productions
4
**Resources expended on other costs**
**The Forum Studio Theatre**
Rent
Insurance
Heat & Light
Water
Cleaning
Repairs & Renewals
**Park Street Studio**
Water
Heat & Light
Repairs & Renewals
**Administration**
Bank Charges
Loan Interest
Depreciation
Booking Fees & Tickets
Printing & Stationery
Telephone
Marketing
**People Resource**
Duty Managers
Pantomime Duty Manager
Bar Manager
Administration/Box Office
Technicians
**Total resources expended on other costs**|2020
2019
£
£
16,809
42,838
70,120
59,237
37,999
8,502
124,928
110,577
824
561
17,776
33,931
80
189
-
699
7,031
11,974
1,250
-
555
-
10,000
-
37,516
47,355
3,831
12,065
6,656
-
34,728
31,583
38,110
3,911
83,325
47,559
3,000
3,000
4,142
5,087
19,728
17,727
2,561
760
3,602
4,991
6,769
6,982
39,802
38,547
313
23
351
1,240
2,043
-
2,707
1,263
364
364
1,000
2,000
3,629
3,059
1,810
3,603
1,797
908
954
1,374
5,386
9,090
14,940
20,398
310
820
1,680
-
1,333
1,833
5,760
7,964
188
1,390
9,271
12,007
66,720
72,215|
|---|---|
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