REGISTERED COMPANY NUMBER: 09703276 (England and Wales) REGISTERED CHARrrY NUMBER. 1167611 Rèport of th• Tru8t0•8 and Flnanclal Statemonts for the Year Endad 318t July 2024 for Park Strogt Porformlng Arts Centré Park Street Perfomiing Arts Centre Contents of the Flnanclal Statements for the year ended 31st July 2024 Page R8forence and Admlnlstrative Dotails R8port of the Truste Report of th• Indopondent Examlnern ststoment of Flnanclal Actlviti08 BalanrA Shoot Notes to tho Financial Statomonts 8 to 12 Park Street Performing Arts Centre Reference and Administrative Details for the year ended 31st July 2024 TRUSTEES Jamie Penn Michael J Allen Emma J Lewis Irene D Manley Shaun French Chair Treasurer {Resigned 30 September 2023) {Resigned 31 December 2023) REGISTERED OFFICE 29 Park Street Hull East Riding of Yorkshire HU2 8RR REGISTERED COMPANY NUMBER 09703276 (England and Wales) REGISTERED CHARITY NUMBER 1167611 INDEPENDENT EXAMINER Samantha Hesford BANKERS TSB PO Box 373 Leeds LS14 9GQ Page 1 Park Streot Performlng Arts Centro Report of the Trustees for the year ended 31st July 2024 The trustees who are also dlrectors of the charity for the purposes of the Companles Act 2008, present their report with the financial statements of the charity for the year ended 31 st July 2024. The trustees have adopted the provisions of Accounting and R8POrting by Charities: Statement of Recommended Practic8 applicable to charftles preparing their accounts in accordance with the Flnanclal Reporting Standard applicab18 In the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The organisation is a charitable company limited by guarantee, incorporated on 25th July 2015 and reglstered as a charity on 25th July 2015. The company was established under a Constltution which e3tablishe(I the objects and powers of tha charitable company and is govemed under ils Articles of Associatlon. Recrultmant and appolntmont of new tru8tee8 The directors of the company are also Gharity trustees for the purposes of charity law. All trustees are provided with a welcome pack upon appointment including a copy of Park Street Performing Arts Centre (PSPAC) Constitutlon, Artlcles of Association, polScies, procedures, and other relevant trustee information. New Trustees are also directed to read all avallable relevant information on the Charity Commission webslte. New Irustees are mentored by an existing Truste6 for any queries on governance or procedure until they both feel confident this is no longer required. PSPAC also encourages further relevant training I courses (including external provlders) for any Tru8tee who require8 1 requests It to progress Iheir knowledge, benefiting the organisation as well as the Indlvldual. All confllcls of Interests are duly consldered prior to trustee appointments. In the Arlicles of AssocSation it is stated that all declslon making must be qobrate. Any declslons of the trustees must be majority decision and quorate to ellmlnate major rSsk. OBJECTIVES AND ACTIVITIES ObJectlve8 and alm8 Our charity's purposes as set out in the objects contained in the company's Articles of Association are., 1) to advaTfE the e￿L￿at￿)n and promotion of creat￿8 perforrning arts and to fost8r, 2) encourage and provide opportunities ft)r peor4e of all ages to participate, 3) Increase their corf￿ence and enjoy being involved in ¢xeatlve performirg arts. in partlcular but not exclusively by offeJlng classes, workshops and staging local performances. PSPAC is a not-for-profit charity,. any monie8 made by the charlty are reinvested into achleving its objectlves. PSPAC has not been involved in (or has yet required) any policy on Grant-making - this will change as necessary. PSPAC relies heavily on the contrSbution of volunteers and therefore is fully committed to assistlng with their per80nal and conlinuous development. The volunteers rnainly consist of local people wlth previous relevant l interchangeable skills. however PSPAC offer training wherever relevant or requested. Page 2 Park Street Performing Arts Centre Report of the Trusteos for the year ended 31st July 2024 OBJECTIVES AND ACTIVITIES Maln actlvltles The main actlvlties undertaken by PSPAC In relation to the objectlves are to provlde a safe, inclusive and inspirational space for chlldren and adults within the local communlty to practlce and enjoy performing arts and assoclated creative skills. This space allows all attendlng to be Involved in various discusslons and experiences involved in the planning, preparation, production and presentation of theatrical productions. leading to Increased self-discovery, empathy and soclal connections. PSPAC alms to Improve th& mental health and well-belng of all involved, Including students, volunteers, audlence members and others. PSPAC endeavours to achieve thls wlth the provision of various workshops, performances and community events. The performances and events are advertised to the public and PSPAC will contlnue to build relations wlth both the public and other groups in the area. Thls will increase awareness of PSPAC and Its offerings to the wider community. Publlc beneflt All charity trustees have had due regard to the Charlty Commlsslon's PublSc Benefit Guidance when exercising any powers or duties to whlch the guidance is relevant. ACHIEVEMENTS AND PERFORMANCE Maln achl8vement8 Durlng thls year PSPAC obtained an income of £51,667 through class fees. This was a steady income stream throughout the year excluding August which is the school's lypical clos•ed period. Typlcally, we would see an income drop during Chrlstmas and Easter breaks however the continuous income stream throughout can be attributed to the move over to a digit81 platform to collect class fees In S8Ptember 23. The classes provided were in the areas of performance. singing. dancing, spoken word, adult muslcal theatre, SEN musical theatre, set design and theatre technlclan skills. In September 2023 we contlnued to offer freè enrolment to all students and a first class free trial. In addition, our enrolment day offered free taster classes Sn dance, musical theatr8, drama and techworks. This was to encourage new students to joln us. We offered a new class call8d Soundworks, this was focussed on podcasting and radio broadcasting. We also added 6 new dance classes, Musical Fitness, Contemporary Dance, Dance Troupe, Senior Ballet. Jazz and Tap and Danceworks troupe, as a result of a new member of the creative team Jolnlng with an interest In dance. We also started a collaboration with local organisation CASE who provide leaming disablllty services. with a new SEN class. The students who wished to work towards examinations in their chosen area were fully encouraged and asslsted by PSPAC, worklng closely with the examining bodies on the students, behalf. Exams were held in January and June 2024. PSPAC continued the development of both volunteers and young people by keeplng the mentor scheme In place. PSPAC contlnued to engage with the local communlty hosting 8 charity ball at an external venue in September 2023 which ralsed awareness of the charity and over £700 (after expenses). Children from the charlty were also invited to perform at another local charity ball (December 2023) raising the profile of the charty with local businesses. In addition the chlldren were asked to perform at a local festival Arafest in July 2024. Page 3 Park Stre•t P•rfonnlng Arts Centro Report of the Trustees for tho year ended 318t July 2024 Maln achievemont8 (contlnuod) The charlty continued with the opportunity to buy PSPAC merchandise such as t-shirts and hoodies. These continue to be offered at cost prlce to the students to encourage a sense of group Id8ntlty and identify and promote PSPAC students and volunteers when at events. The charity introduced a volunteer reward scheme for those volunteers who devote their time to support the charity. This rolled OLrt in September 2023. We also were supported by local HEY volunteers for some of our fundraisers in the local shopping centre. Ov6rall, during 2023124 PSPAC has met its objectives of involvlng the community in the arts whilst fostering a safe Inclusive space for all and raising enough funds to continue successfully into the future. FINANCIAL REVIEW Flnanclal posltlon The Gharity achieved an income of £105,935 {2023: £86,436). Thls Is likely to be a result of stronger working relationships be￿een the trust. commitl88 and staff team with clearly aligned goals and objectives set at the start of the financial year. The charity also arranged a number of fundraising events throughout the year such as a Christmas fayre, quiues and seasonal party events wilh the help and support from volunteers across all aspects of the charity. £51,667 income was achieved through Class Fees {2023.. £39.982). Thls accounts for the School maklng usa of all the available time to offer classes and introducing new classes in thi8 year. The Introduction of online system made audit of class paymer)ts much better. The continuous operation of Ihe café and bar allowed us to generate an income of £10,978 (2023: £12,495). Thls Is due to a refurbishment of both areas and regular management of volunteers to staff these areas. The charity has met all its expenditure requirements this year, the largest tyelng glmllar to previous years- staff costs of £32,559 (2023., £21,692) to cover professlonal tutors who run the classes, then the rent £20.035 (2023.. £19,670). The trustees consider the financial posltlon of the charity at the end of th8 year to be acceptable. however contlnue to tske steps to improve the position of the charity and ensure that a small surplus can be made most years. Thls additionally will help to futur8proof the charily against any unforeseen clrcumstsnces. ResoNo8 poII¢y As a not-for-proflt organisation, it is the aim of the charlty not to build extensive reseNes. Inevitably, this cannot always be the case and there will be nomlnal reserves at year end., these are reinvested into the charity and used for the benefit of current and future stu(Jents. Page 4 Park Street Porfomlng Arts Centro Report of the Trustees for the year endod 31st July 2024 STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees (who are also the directors of PSPAC for the purposes of company law) are responsible for preparing the Report of the Trustees and the financlal stalements In aCcOr¢an￿ with applicable law and Unlted Kingdom Accounting Standards (United KSngdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 Yhe Flnanclal Reporting Standard appllcable in the UK and Republic of Ireland" Company law requlres the trustees to prepare financial statements for each financSal year which give a true and fair view of the state of affalrs of the charitable company and of the incoming resources and application of resources, Induding the Income and expenditLtre, of the charitable company for. that period. In preparlng those financial statements, the trustees are required to- select suitable acGountlng policles and then apply them consistently", observe the methods and principles In the Charity SORP. make judgem8nts and estimat6S that are reasonable and prudent", prepare th8 financial statements on the going concern basis unless it Is Inappropriate to presume that the charitsble Gompany will continue in busin8SS. The trustees are responslble for ke6plng proper accountlng records which dlsclose with reasonable accuracy at any tlme the financial posltion of the charitable company and to enable them to ensure that tha financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company 8nd hence for taking reasonable steps for the preventlon and detectlon of fraud and other irregularities. Approved by order of the board of trustees on 9th April 2025 and signed on its behalf by.. E Lewis - Trustee Page 4 Report of the Indepondent Examlners to th¢ Members of Park Street Performing Arts Centre Independènt Examlnerfs Report to the Trusteos of Park Street P•rfomiing Art8 Centre I report to the charlty trustees on my examination of the accounts of the charltable company for the year ended 31 st July 2024 which are set out on pages 6 to 12. Responslbllltles and basls of report As the charitable companls trustees (and also its directors for the purposes of company law) you are responsible for the preparatlon of the accounts in accordance with the requirements of the Charities Act 2011 {'the Act,) and Companies Act 2006 {'the 2006 Act,). Having satisfi8d myself that the accounts of the charitable company are not required to the audited under Part 16 of the 2006 Act and are eligible for ind8pend8nt examination, I report in respect of my examination of your charltable company's accounts as carrled out under section 145 of th8 Act. In carrylng out my examination I have followed the Dlrectlons given by the Charlty Commission under section 145(5)(b) of the Act. Independent •xamlnoVs statement I have completed my examinatlon. I confirm that no material matters have come to my attention In connection wlth the examination glving me cause to belleve: a￿oUntIng records were not kept in respect of the chariiable company as required by section 130 of Act or by Section 386 of the 2006 Act., or the accounts do not accord those records; or the accounts do not comply with the applicable requirements of Section 3g6 of the 2006 Act other than any requlrement that the accounts glve 8 'true and fair vi8w' which is not a matter considered as part of an indeperKlent examination." or the ac£ounts have not been prepared In aC￿rdan￿ with the methods and principles of Statement of Recommended practi￿ fcf accountlng and reporting by charities (applicAble to charities prepariro their accounts In acLordance with the Flnancial Reporting Standard applicable In the UK and Republic of Irela1￿ (FRS102)). I have no concerns and have come across no other matters In connectlon wlth the examlnatlon to whlch att8ntlon should be drawn in thls report in order to enable a proper underst8ndlng of the accounts to be reached. S Hesford ACCA 9th April 2025 Page 5 Park Street Porforming Arts Centre Statement of Financlal A¢tlvltles (including income and expendlture account) for the year anded 31st July 2024 2024 Total funds 2023 Total funds Unrestricted funds Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations, legacies and grants Charitable actlvlties Theatrical performances Other trading activities 11.083 55,371 26,221 13,260 11,083 55,371 26,221 13,280 9,850 42,764 20,449 13,372 Total 105,935 105,935 86,435 EXPENDITURE ON Raising funds Charitable activities 6,525 99,037 6.525 99.037 5,938 81,837 Total 105,562 105,562 87,775 NET INCOMEI(EXPENDITURE) 373 373 (1,340) Tran8fer8 botWOon funds Net movement In funds 373 373 (1,340) RECONCILIATION OF FUNDS Total fund8 brought forward 8,097 8,097 9,437 TOTAL FUNDS CARRIED FORWARD All unrestrlcted funds are general funds. The notes form part of these financial statements Page 6 ) Park Stroet Performing Arts Centre (Regi8tared number. 09703276) Balance Sheet 31st July 2024 2024 Total funds 2023 Total funds Unrestricted funds Restricted Jnds Notes CURRENT ASSETS Stock Debtors Cash at bank 1,182 2,584 1,182 2,584 1,044 12 12.464 12,484 10,474 CREDITORS Accruals and deferred income 13 3,994 3,994 2,376 NET ASSETS 8,470 8,097 FUNDS 14 Unrestricted funds.. General fund 8.470 8,097 Restricted funds TOTAL FUNDS 8,470 All unrestricted funds are general funds. For the financial year In question the charftable company was entitle(J to exemption under 477 of the Companles Act 2006 relating to small companles. No members have required the charitable company to obtaln an audit of its accounts for the year In qu6Stlon In accordance wlth section 476 of the Companies Act 2006. The trustees aGknowledge their responslblllty for complylng wlth the requirement8 of the Act with respect to accountlng records and for the preparation of accounts. These financial statements have been prepared in accordance with the provlslons applicable to charitable companies subject to the small companies, regime. The financial statements were approved by the Board of Trustees and auth0ri8ed for issue on 9th April 2025 and were signed on Its behalf by,. E Lewis - Trustee The notes form part of these financial statements Page 7 Park Streot Performlng Arts Centre Notes to the Flnanclal Statements for tha year anded 31st July 2024 ACCOUNTING POLICIES Basls of preparlng the flnanGlal statement8 The financial statements of the Charitable Company, limited by guarantee, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charltles: Statement of Recommended practi￿ applicable to charities preparing their accounts in accordance wlth the Financlal Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019),, Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, wlth Ihe exception of investments which are included at market value, as modified by the revaluation of certain assets. The trustees conslder that there are no material uncertainties about the Charivs ability to continue as a golng concern. Income recognltion Income is measured at the fair value of the consideration received or receEvable. The policies adopted for the recognition of income are as follows: Income from donations, government and other grants, whether capital or revenue, is recognised when the charlty has entltlements to the funds, any performance conditions attached to th8 grants have been met and It Is probable that the Income will be received and the amount can be measure