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← Frinton Summer Theatre

2023-09-30-accounts

Charity Registration No. 1170429

Company Registration No. 10232477 (England and Wales)

FRINTON SUMMER THEATRE

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

92 Station Road Clacton on Sea Essex CO15 1SG

FRINTON SUMMER THEATRE

CONTENTS

Page
Company information 1
Trustees' report 2 - 4
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7 - 8
Notes to the financial statements 9 - 14

FRINTON SUMMER THEATRE

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees J Armstrong
H Cole (Appointed 17 October 2022)
J Dias
A Ellis
R Max
K Waltham (Appointed 13 November 2022)
Charity number 1170429
Company number 10232477
Principal address Oak Lodge
20 Second Avenue
Frinton on Sea
Essex
CO13 9ER
Registered office 92 Station Road
Clacton on Sea
Essex
CO15 1SG
Independent examiner TC Group
92 Station Road
Clacton on Sea
Essex
CO15 1SG

FRINTON SUMMER THEATRE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 30 SEPTEMBER 2023

The trustees present their report and financial statements for the year ended 30 September 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 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 promote and advance performance arts, most particular the arts of theatre, opera and ballet including through the presentation of a summer season of theatrical performances in Frinton on Sea.

Frinton Summer Theatre runs a seven-week season in July and August. Its home is the McGrigor Hall (formerly the WI Hall). It performs one play a week in repertory ("Weekly Rep"). It is one of the few remaining theatres in the UK to undertaken Weekly Rep. Although Weekly Rep is now a rarity in the theatrical world, Frinton Summer Theatre enjoys a considerable reputation in the theatrical industry. It has been the starting point for many wellknown names in the Theatre including Julie Christie, Anthony Sher, Michael Denison, Jane Asher, Vanessa Redgrave, Owen Teale, Linda Bellingham and Neil Dudgeon.

FRINTON SUMMER THEATRE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2023

Achievements and performance

Audience and community feedback on our 2023 season demonstrated that the year was a huge artistic success for Frinton Summer Theatre.

The productions in the McGrigor Hall were:

The King’s Speech Barefoot in the Park Folk The Lady Killers Bette and Joan Don’t Dress for Dinner

My Fair Lady was a musical produced in the tent on the Greensward.

We also produced a small scale children’s show which we specially commissioned for Frinton.

2023 proved to be a near return to normal for audiences and crew alike. Covid anxiety - which remained a real test to audience numbers in 2022 - seemed to be relaxed. In the hall we played to an overall average of 80% with three sell-out or near sell-out shows.

The King’s Speech was considered a great artistic success and we mounted the first production of “Folk” in the UK since it was first produced at Hampstead Theatre. The latter received a glowing five star review in britishtheatre.com.

We produced “My Fair Lady” in the tent which was enthusiastically received by all. It played to approximately 65% but just about broke even.

We were delighted that our patron Jane Asher came to see the latter as did “Succession” star Brian Cox. Brian started his career in Rep and enthusiastically endorsed our work, so much so that he agreed to host an “Evening with….” as a fund raiser for us which was sold out and raised in excess of £6,000.

Getting grants and sponsorship again proved a challenge but we were delighted that St James’s Place Wealth Management bought out one performance of “MFL”. We were also grateful to the. St. James’s Place Foundation for a donation of £7,500 which allowed us to run a permanent box office on the high street and to continue with our programme of outreach workshops for the young.

Ellisons solicitors gave us £3,000 sponsorship towards the tent production.

Once the Theatre Tax Credit is secured we will have sustained a modest loss on the season but we should be proud that FST continues to produce high quality work in what is still a fairly challenging environment in terms of rising costs.

Our mission must be to continue our high quality of production whilst seeking more support from the commercial sector and through grants.

We remain one of the UK’s most unique theatrical heritage institutions.

FRINTON SUMMER THEATRE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2023

Financial review

The accounts for the year show a net deficit of £3,429.

Reserves at the balance sheet date amounted to £161,324, of which £150,104 are unrestricted.

Reserves are held to ensure the Charity has enough reserve funding in place to cover planned expenditure, taking account of known future revenue streams.

Structure, governance and management

Frinton Summer Theatre is a registered charity (No, 1170429). The company was established with solely charitable objects and has operated within these since incorporation so it is treated as a charity from inception. It obtained formal registration with the Charity Commission on 28 November 2016.

The first trustees of the charity were appointed on incorporation. Subsequent trustees can be appointed by the trustees and there is no limit to the term of office. There must be a minimum of 3 trustees at any given time. The board is responsible for the strategic management of the charity and for setting policy. The day to day operational management is delegated to the Executive Directors.

All trustees give their time and expertise on a voluntary basis and receive no remuneration or other benefits.

The Trustees of the charity have referred to the guidance in the Charity Commission's general guidance on Public Benefit when reviewing its aims and objectives and in planning the Charity's future activities, including its guidance 'Public benefit: running a charity (PBS2).'

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:

J Armstrong

C Brill (Resigned 27 March 2023) H Cole (Appointed 17 October 2022) J Dias P Dias (Resigned 15 February 2023) A Ellis A Gostling (Resigned 17 October 2022) R Max K Waltham (Appointed 13 November 2022)

The trustees' report was approved by the Board of Trustees.

J Dias

Trustee Dated: 12 February 2024

FRINTON SUMMER THEATRE

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF FRINTON SUMMER THEATRE

I report to the trustees on my examination of the financial statements of Frinton Summer Theatre (the charity) for the year ended 30 September 2023.

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

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of , which is one of the listed bodies.

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:

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.

Simon Garner FCA Independent Examiner TC Group 92 Station Road Clacton on Sea Essex CO15 1SG

Dated: 12 February 2024

FRINTON SUMMER THEATRE

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 SEPTEMBER 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income from:
Donations and legacies
3
41,907
11,220
Charitable activities
4
294,527
-
Total income
336,434
11,220
Expenditure on:
Charitable activities
5
444,135
-
Net (expenditure)/income for the year/
Net (outgoing)/incoming resources
(107,701)
11,220
Other recognised gains and losses
Other gains or losses
8
93,052
-
Net movement in funds
(14,649)
11,220
Fund balances at 1 October 2022
164,753
-
Fund balances at 30 September 2023
150,104
11,220		 Total
2023
£
53,127
294,527
347,654
444,135
(96,481)
93,052
(3,429)
164,753
161,324		 Total
2022
£
62,559
300,317
362,876
416,179
(53,303)
94,046
40,743
124,010
164,753

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.

FRINTON SUMMER THEATRE

BALANCE SHEET

AS AT 30 SEPTEMBER 2023

Notes
Fixed assets
Tangible assets
9
Current assets
Debtors
10
Cash at bank and in hand
Creditors: amounts falling due within
one year
11
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
12
Unrestricted funds		 2023
£
95,603
92,417
188,020
(37,922)		 £
11,226
150,098
161,324
11,220
150,104
161,324		 2022
£
99,190
136,563
235,753
(85,967)		 £
14,967
149,786
164,753
-
164,753
164,753

FRINTON SUMMER THEATRE

BALANCE SHEET (CONTINUED)

AS AT 30 SEPTEMBER 2023

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 September 2023.

The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the 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 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 12 February 2024

J Dias

Trustee

Company Registration No. 10232477

FRINTON SUMMER THEATRE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

1 Accounting policies

Charity information

Frinton Summer Theatre is a private company limited by guarantee incorporated in England and Wales.

The registered address is 92 Station Road, Clacton on Sea, Essex, CO15 1SG.

1.1 Accounting convention

The financial statements have been prepared in accordance with 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). 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 amounts in these financial statements are rounded to the nearest £.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

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.

1.4 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.

FRINTON SUMMER THEATRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2023

1 Accounting policies

(Continued)

1.5 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:

Plant and equipment 25% reducing balance Computers 25% reducing balance

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.

1.6 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

During the year the following estimates were required.

Key sources of estimation uncertainty

Depreciation

The charge in respect of depreciation is derived after determining an estimate of an asset's expected useful life and the expected residual value at the end of its life. The estimates are based on historical experience with similar assets.

Apportionment of costs

Costs are apportioned to determine 'core costs' incurred on producing and closing the theatrical production. These core costs are used as the basis for calculating Theatre Tax Relief.

FRINTON SUMMER THEATRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2023

3 Donations and legacies

Unrestricted
Restricted
funds
funds
2023
2023
£
£
Donations and gifts
14,243
11,220
Government grants received
-
-
Sponsorship
27,664
-
41,907
11,220
For the year ended 30 September 2022
62,559
-
Grants receivable for core activities
Arts Council Grant
-
-
Tendring District Council Grant
-
-
-
-		 Total
2023
£
25,463
-
27,664
53,127
-
-
-		 Total
2022
£
49,713
12,846
-
62,559
62,559
10,000
2,846
12,846

4 Charitable activities

Charitable Charitable Income
Income
2023 2022
£ £
Box office income 254,787 260,285
Ice cream/programme and book sales 39,740 40,032
294,527 300,317

FRINTON SUMMER THEATRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2023

5 Charitable activities

Charitable Charitable
Expenditure Expenditure
2023 2022
£ £
Depreciation and impairment 3,742 4,989
Artistic programme 354,007 350,419
357,749 355,408
Share of support costs (see note ) 86,386 60,771
444,135 416,179

Support costs consist of £83,638 (2022: £58,125) of overheads and £2,748 (2022: £2,646) relating to an Independent Examination.

6 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

7 Employees

There were no employees during the year.

8 Other gains or losses

Other gains or losses
Unrestricted Total
funds
2023 2022
£ £
Theatre Tax Relief 93,052 94,046

FRINTON SUMMER THEATRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2023

9
Tangible fixed assets
Plant and
equipment
Computers
£
£
Cost
At 1 October 2022
24,515
3,281
At 30 September 2023
24,515
3,281
Depreciation and impairment
At 1 October 2022
10,704
2,124
Depreciation charged in the year
3,453
289
At 30 September 2023
14,157
2,413
Carrying amount
At 30 September 2023
10,358
868
At 30 September 2022
13,810
1,157
10
Debtors
2023
Amounts falling due within one year:
£
Other debtors
94,633
Prepayments and accrued income
970
95,603
11
Creditors: amounts falling due within one year
2023
£
Other creditors
649
Accruals and deferred income
37,273
37,922		 Total
£
27,796
27,796
12,828
3,742
16,570
11,226
14,967
2022
£
96,347
2,843
99,190
2022
£
34,000
51,967
85,967

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FRINTON SUMMER THEATRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

12 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in
funds
Incoming Balance at
resources 30 September
2023
£ £
Edward Max Director Programme 11,220 11,220

Edward Max Director Programme

Donations were received by the Frinton Summer Theatre in relation to the above programme. The programme will offer placements to those training in the performing arts so they can gain valuable director's assistant work experience.

13 Analysis of net assets between funds

Fund balances at 30 September 2023 are
represented by:
Tangible assets
Current assets/(liabilities)		 2023
£
11,226
138,878
150,104		 2023
£
-
11,220
11,220		 Total
2023
£
11,226
150,098
161,324		 Total
2022
£
14,967
149,786
164,753

14 Related party transactions

There were no transactions with related parties during the year.