Company Registration Number: 07841365
The Charity Registration Number: 1170509
Spinning Wheel Ltd Report and Accounts
30 November 2021
## **Spinning Wheel Ltd**
## **Report and accounts for the year ended 30 November 2021**
## **Contents**
||**Page**||
|---|---|---|
|**Charity information**||1|
|**Trustees' Annual Report**||2|
|**Statement of directors' responsibilities**||7|
|**Independent Examiner's Report**||8|
|**_Funds Statements:-_**|||
|Statement of Financial Activities||9|
|Movements in funds||10|
|Income and Expenditure account||11|
|**Balance sheet**||12|
|**Notes to the accounts**||13|
## **Spinning Wheel Ltd**
Company Registration Number - 07841365
## **Trustees' Annual Report for the year ended 30 November 2021**
The Trustees present their Report and Accounts for the year ended 30 November 2021, which also comprises the Directors' Report required by the Companies Act 2006.
## **Reference and administrative details**
The legal name of the charity is Spinning Wheel Ltd.
The charity is also known by its operating name, Spinning Wheel Theatre.
The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 1170509.
The charity is constituted as a company limited by guarantee, registered under the Companies Acts. The governing document of the charity is the Memorandum and Articles of Association establishing the company under company legislation.
There are no restrictions in the governing documents on the operation of the Charity or on its investment powers other than those imposed by Charity Law.
The trustees are all individuals.
## **The principal operating address, telephone number, email and web address of the charity are:-**
The Old Post Office The Street, Rickinghall Diss, IP22 1EG Telephone: 07812130064 Email Address: becca@spinningwheeltheatre.com Web address: http://www.spinningwheeltheatre.com
The registered office of the charity for Companies Act purposes is the same as the operating address shown above.
## **The Trustees in office on the date the report was approved were:-**
Roger Stubbs Andrew Smith Brian Manley Amy Wyllie Polly Ingham-Watts
The trustees who served as a trustee in the reporting period were as shown above. There were no changes during the year, or in the period between the year end and the approval of the accounts.
1
## **Spinning Wheel Ltd**
Company Registration Number - 07841365
## **Trustees' Annual Report for the year ended 30 November 2021**
## **Objects and activities of the charity**
## _**The purposes of the charity as set out in its governing document**_
To advance education in the arts, in particular the art of drama by the organisation and production of touring plays and activities in rurally isolated communities in East Anglia and the surrounding area for in particular, but not exclusively, young people between the ages of 5 and 25.
## _**The main activities undertaken in relation to those purposes during the year**_
As the effects of COVID-19 continued to take it’s toll on the arts industry, the organisations activity was curtailed during the early part of the financial year.
During this time, the organisation undertook a second consultancy with the Marina Theatre to investigate the opportunities for the outreach department in a post-Covid environment.
As a result of this consultancy, the organisation was invited to deliver the Marina Theatre’s outreach programme in the roll of Company in Residence, and so has been focussing it’s engagement work in this region of East Suffolk during this financial year.
Plans were developed to mount a covid-secure tour of The Velveteen Rabbit in spring 2021, but we made a decision during the winter lockdown to postpone these plans due to the continuing rise in covid infections and unpredictability for the industry at that time. Any funders for that tour kindly agreed to allow funding to be postponed for a tour at a later date.
In the autumn of 2021, the first Colab:East project was delivered, working with 8 East Anglian based emerging creatives to develop a new piece called ‘The Marina Monster’ for children and families, provide opportunities to develop new collaborative networks for the participants, and offer career development workshops from industry experts. This project was funded by Arts Council England and delivered in partnership with the Marina Theatre in Lowestoft.
## _**The main activities undertaken during the year to further the charity's purpose for the public benefit**_
Spinning Wheel Theatre delivered the CoLab:East project in partnership with the Marina Theatre in Lowestoft in autumn 2021. The project brought together 8 early career theatre creatives with the brief to create a family show for a non-traditional theatre space in Lowestoft. The CoLab:East cohort created a piece called The Marina Monster, which performed 3 times over the weekend at the Marina Theatre in their upstairs studio space, converting it into an immersive underwater space. As part of CoLab:East’s creative professional development programme, the cohort also attended 3 weekends of workshops exploring the devising and R&D process, and attended seminars and workshops from a range of industry specialists.
As part of our Company in Residence relationship with the Marina Theatre, delivering the organisations outreach offer, we have launched two weekly Youth Theatre classes for 8-12 and 13-15 year olds, a weekly group for people aged 60+ called Next Stagers exploring performance and theatre making techniques, a Choir and a Ukulele Orchestra. We have also delivered two-week Summer School for children aged 13-21, working towards a full-scale production on the Marina stage, and providing free lunch for participants each day to alleviate food poverty pressures during the Summer. Alongside this work, we have also delivered a playwriting project for participants aged 60+ who each created a short radio play. These were performed by professional actors and recorded, edited and will be broadcast on BBC Radio Suffolk and Norfolk in spring 2022.
2
## **Spinning Wheel Ltd**
Company Registration Number - 07841365
## **Trustees' Annual Report for the year ended 30 November 2021**
## _**Achievements and performance**_
The CoLab:East project participants saw a significant improvement in their mental health as a result of participating. This includes a 61% improvement in feeling good about themselves, 63% improvement in their confidence, 73% improvement in how useful they feel, and 48% improvement in how close they feel to others. 100% of participants ended the project feeling able to make up their own mind about things, feeling cheerful and optimistic about their future often or all of the time.
## WHAT THE PARTICIPANTS SAID:
_“I really enjoyed the collaboration process; it was one of the most effective and balanced devised pieces I have been involved in. It felt unique as a truly shared project, with each person being able to choose their involvement in each discipline and decision.”_
_“CoLab:East helped me gain new skills; especially in areas which feel unapproachable or mysterious within theatre such as funding and relationship building. These topics can often be overwhelming”_
_“I plan to stay in touch with the group and follow what they do next. I would love us to collaborate again in the future, and I feel like I have so many new connections to draw on._
_“My creative network has immediately expanded having taken part in CoLab:East and meeting the cohort, guest speakers and growing my knowledge of Suffolk creatives. I feel I have a stronger image of all that is available in the county, from individuals to organisations and events.”_
_“This project has been completely joyful and invigorating. The whole experience was rewarding and left me feeling renewed. This type of opportunity is so important and so helpful to early-career artists in feeling valued and welcomed within the industry. Thank you!”_
## WHAT THE AUDIENCE SAID:
_“Wow!!! What an amazing family experience watching The Marina Monster. Our children absolutely loved this and I was in stitches too!!! We are foster carers so for one of our children it was their first ever experience of theatre and he was in his element and can't stop talking about the characters and how much fun he had. Best fun we've had in a long time! We will definitely be following on social media for any future family performances. Thanks again.”_
Having delivered 6 months of outreach activity at the Marina Theatre since reopening after covid-19, we have seen a steady increase in participants as people feel more confident to engage in activities.
We have been able to gather really positive feedback from participants, and undertaken wellbeing evaluation using the Warwick-Edinburgh Mental Wellbring Scale.
## FEEDBACK FROM YOUNG PEOPLE:
_“I've enjoyed speaking to new people and gaining confidence.”_
_“You meet new people and be able to expand your mind.”_
_“I feel really safe here.”_
_“I like working with different people and coming up with new ideas, and learnt techniques for acting and on the stage.”_
## FEEDBACK FROM OLDER PARTICIPANTS:
_“I’ve enjoyed meeting with like minded people and enjoying the banter. Feeling motivated by learning a new instrument_
_“I’ve enjoyed the social aspect of being with a lovely group of people” “Enjoyed new songs, people, conversations”_
_“Music makes me feel good.”_
3
## **Spinning Wheel Ltd**
Company Registration Number - 07841365
## **Trustees' Annual Report for the year ended 30 November 2021**
## SUMMER SCHOOL:
From the start to the end of this project, participants reported a significant improvement in their confidence how good they feel about themselves and how close they feel to others. They also saw an improvement in how cheerful and useful they feel and in their ability to think clearly as a result of participating.
## WHAT THE PARTICIPANTS SAID:
_“I have enjoyed spending time with new people and making new friends. I have also gained so much confidence with my acting and social skills”_
_“I've enjoyed working at a theatre, with professional actors, directors and stage managers. I've made lots of new friends and have enjoyed working together to produce a show.”_
_“Meeting amazing people and advancing my skills”_
_“I've loved being in the theatre and learning new things. Making new friends. I've learnt lots of theatre phrases and what things mean.”_
## WHAT THE AUDIENCE SAID:
_“We came as a family this evening to watch 'Tangled Tales' and wanted you to pass on a message to the cast at how much we enjoyed it. The story line was great, and each member of the cast portrayed their characters extremely well. What a delight and a great way for us to experience our first outing back at the theatre, well done!”_ – audience member
_“Attended the 2pm Sunday performance with our grandchildren. We all really enjoyed it. Well done to all the cast, and look forward to more from these talented young people.”_ – audience member
_“My daughter has absolutely loved this last 2 weeks of Summer School and can't wait to join the Youth Theatre group. She's always loved performing but only ever knew dancing on stage and lockdown was so so hard for her. She really struggled and walked away from dancing which I was devastated about as she was so unhappy after lockdown but since she's been doing this I've finally got her back. It's been lovely to see her come out of her shell again”_ – parent of participant
_“Thank you to the Marina Theatre! My daughter has had a great time at the Summer school. She’s exhausted but so happy_ ” – parent of participant
## UNSPOKEN STORIES PROJECT
From the start to the end of this project, participants reported a 50% improvement in how optimistic they feel about the future and in their ability to think more clearly as a result of participating. They also felt an improvement in their confidence, feeling good about themselves, more relaxed, useful and interested in other people.
## WHAT THE PARTICIPANTS SAID:
_“This course has given me a real boost in my confidence and abilities. I have learnt so much and now feel able to express myself in a new way.”_
_“Having contact with like-minded people is very helpful and nice. Also it has given me a bit more confidence in my own ability of which I had previously lacked.”_
_“I have totally LOVED this course - the 2 teachers have been brilliant and I have actually produced a play that I am proud of - first time I've written anything like that since English O Level in 1976! Feel SO positive.” “I don't want this to stop - I would like to take another course.”_
## 2020-21 engagement at a glance:
- Number of engagements by children & young people in participatory activities = 945
- Number of hours of engagement = 3507 hours
- Total audience numbers = 327
- Total number of service users = 1517
4
## **Spinning Wheel Ltd**
Company Registration Number - 07841365
## **Trustees' Annual Report for the year ended 30 November 2021**
## _**Public benefit**_
The trustees confirm that they complied with the requirements of section 4 of the Charities Act 2011 and have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
## _**Structure, governance and management**_
Spinning Wheel Limited is a company limited by guarantee. The company incorporated on 9th November 2011, and registered as a charity on 1 December 2016.
New trustees appointed during the year are familiar with the work of the charity and have been issued with the Commission's guide "The Essential Trustee" in order to familiarise themselves with the role of a trustee.
## **Financial review**
## _**The charity's financial position at the end of the year ended 30 November 2021**_
The financial position of the charity at 30 November 2021 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:-
|Restricted Revenue Funds
**Total Funds**
Unrestricted Revenue Funds available for
the general purposes of the charity
**Net income / (expenditure)**|**2021**
**£**
8,217
(3,574)
25,274
21,700|**2020**
**£**
(4,248)|
|---|---|---|
|||(1,954)
15,438|
|||13,483|
5
## **Spinning Wheel Ltd**
Company Registration Number - 07841365
## **Trustees' Annual Report for the year ended 30 November 2021**
## _**Financial review of the position at the reporting date, 30 November 2021**_
The trustees consider the financial performance by the charity during the year to have been good with grants being obtained from a wide range of funds. This has enabled the charity to meet its objectives in advancing education in Arts within East Anglia.
## _**Policies on reserves**_
The company endeavours to maintain a level of reserves that will enable it, if the situation arises that funding is curtailed, to carry on its activities whilst alternative sources of funding are obtained.
## _**Availability and adequacy of assets of each of the funds**_
The board of trustees is satisfied that the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund.
## **Details of The Independent Examiner**
Claire Bisset Chartered Accountants Beech Tree Cottage The Street Stowmarket Suffolk IP14 4LF
6
## **Spinning Wheel Ltd**
Company Registration Number - 07841365
## **Trustees' Annual Report for the year ended 30 November 2021**
## **Statement of the Directors' and Trustees' Responsibilities**
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Companies Act 2006, the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in February 2016), (The SORP).
In particular, the Companies Act 2006 and charity law require the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to :-
- prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
- select suitable accounting policies and apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business;
- state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements;
The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.
The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with the Companies Act 2006 and comply with regulations made under the Charities Act. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are also responsible for the contents of the Trustees' report, and the statutory responsibility of the Independent Examiner in relation to the Trustees' report is limited to examining the report and ensuring that , on the face of the report, there are no material inconsistencies with the figures disclosed in the financial statements.
## **Method of preparation of accounts - Small company provisions**
The financial statements are set out on pages 9 to 20.
The financial statements have been prepared implementing the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in February 2016), (The SORP), and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016).
These financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
his report was approved by the board of trustees on 26th August 2022.
A Wyllie
A WYLLIE Director and Trustee
7
## **Spinning Wheel Ltd**
## **Independent examiner's report to the directors of Spinning Wheel Ltd**
I report on the financial statements for the year ended 30 November 2021 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes.
## **Respective responsibilities of the Trustees and the Independent Examiner and the basis of the report**
The charity's trustees (who are also directors for the purposes of company law) are responsible for the preparation of the accounts. The charity's directors consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the Act)) and that the financial statements are subject to an independent examination.
Having satisfied myself that the financial statements are not required to be audited under any legal provision, or otherwise, and are eligible for independent examination, it is my responsibility to:-
- a) examine the financial statements of the charity under Section 145 of the Act;
- b) follow the applicable procedures in the Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Basis of Independent Examiner's Statement and scope of work undertaken**
My examination was carried out in accordance with the General Directions given by the Charities Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented within those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees 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 accounts and my report is limited to the matters set out in the statements below.
## **Independent Examiner's Statement, Report and Opinion**
Subject to the limitations upon the scope of my work as detailed above, I have completed my examination: and can confirm that:-
The accounts of this charitable company are not required to be audited under Part 16 of the Companies Act 2006; This is a report in respect of an examination carried out under 145 of the Act and in accordance with Directions given by the Charity Commission under section 145(5)(b) of the Act which may be applicable;
and that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:-
- accounting records were not kept in respect of the charity as required by Section 386 of the Companies Act 2006 and Section 130 of The Charities Act 2011;
- the financial statements do not accord with those records; or
- the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in section 396 of the Companies Act 2006 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;
- have not been prepared in accordance with the methods and principles set out in the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) (The SORP).
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.
## **Signed:-**
Claire Bisset - Independent Examiner
Chartered Accountants Beech Tree Cottage The Street Stowmarket Suffolk IP14 4LF
This report was signed on 26th August 2022
8
## **Spinning Wheel Ltd - Statement of Financial Activities for the year ended 30 November 2021**
## _**Statement of Financial Activities (including the Income and Expenditure Account for the year ended 30 November 2021)**_
|**Income & Endowments from:**
Donations & Legacies
A1
Charitable activities
A2
Investments
A4
**Total income**
**A**
**Expenditure on:**
Charitable activities
B2
Tax on loss on ordinary activities
B3
**Total expenditure**
**B**
**Net (expenditure)/income for the year**
**Reconciliation of funds:-**
**E**
Total funds brought forward
**Total funds carried forward**
**Net movement in funds**
**SORP**
**Ref**|**Current year**
**Unrestricted**
**Funds**
**2021**
**£**
25
31,778
37
|**Current year**
**Restricted**
**Funds**
**2021**
**£**
14,284
-
-
**14,284**
4,448
-
**4,448**
**9,836**
**9,836**
15,438
**25,274**|**Current year**
**Total Funds**
**2021**
**£**
**14,309**
**31,778**
**37**
**46,124**
**38,305**
**(399)**
**37,906**
**8,217**
**8,217**
**13,483**
**21,700**|**Prior Year**
**Total**
**Funds**
**2020**
**£**
32,335
8,450
7|
|---|---|---|---|---|
||**31,840**|||**40,792**|
||33,858
(399)|||45,949
(910)|
||**33,459**|||**45,039**|
||||||
||**(1,619)**|||**(4,248)**|
||**(1,619)**
(1,954)|||**(4,248)**
17,731|
||**(3,574)**|||**13,483**|
A Statement of Total Recognised Gains and Losses is included as a primary statement in these accounts.
All activities derive from continuing operations.
9
## **Spinning Wheel Ltd - Statement of Financial Activities for the year ended 30 November 2021**
**Statement of Total Recognised Gains and Losses for the year ended 30 November 2021**
|**Surplus for the year :-**
**_Income from operations before tax in the Statement of Financial Activites_**
**Net Movement in funds before taxation**
Taxation refund arising in the year
**Funds generated in the year as shown on Statement of Financial Activities**
Net excess of income over expenditure from operations before tax|**2021**
**£**
7,818
**7,818**
**7,818**
399
**8,217**|**2020**
**£**
(5,158)|
|---|---|---|
|||**(5,158)**|
|||**(5,158)**
910|
|||**(4,248)**|
||||
## **Movements in revenue and capital funds for the year ended 30 November 2021**
## **Revenue accumulated funds**
|**Unrestricted**
**Restricted**
**Funds**
**Funds**
**2021**
**2021**
**£**
**£**
Accumulated funds brought forward
(1,954)
15,438
(1,619)
9,836
**(3,574)**
**25,274**
**Closing revenue funds**
**(3,574)**
**25,274**
**Summary of funds**
**Unrestricted**
**Restricted**
**and**
**Funds**
**Designated funds**
**2021**
**2021**
**£**
**£**
Revenue accumulated funds
(3,574)
25,274
Recognised gains and losses before transfers|**Total**
**Funds**
**2021**
**£**
13,483
8,217
**21,700**
**21,700**
**Total**
**Funds**
**2021**
**£**
**21,700**|**Last year**
**Total Funds**
**2020**
**£**
**17,731**
(4,248)|
|---|---|---|
|||**13,483**|
|||**13,483**|
|||**Last Year**
**Total Funds**
**2020**
**£**
13,483|
## **The notes attached on pages 13 to 20 form an integral part of these accounts.**
10
## **Spinning Wheel Ltd - Statement of Financial Activities for the year ended 30 November 2021**
## **Spinning Wheel Ltd**
## **Income and Expenditure Account for the year ended 30 November 2021 as required by the Companies Act 2006**
|**_Income_**
Income from operations
Interest receivable
**Gross income in the year**
**_Expenditure_**
Charitable expenditure, excluding depreciation and amortisation
Depreciation and amortisation
Governance costs
**Total expenditure in the year**
Tax on loss on ordinary activities
**Retained surplus / (deficit) for the financial year**
**Net income/(expenditure) after tax in the financial year**
**Net income / (expenditure) before tax in the financial year**
Investment income|**2021**
**£**
46,087
37
**46,124**
**37,082**
**321**
**903**
**38,305**
**7,818**
(399)
**8,217**
**8,217**|**2020**
**£**
40,785
7|
|---|---|---|
|||**40,792**|
|||**40,674**
**525**
**4,750**|
|||**45,949**|
|||**(5,158)**
(910)|
|||**(4,248)**|
|||**(4,248)**|
All activities derive from continuing operations
**The notes attached on pages 13 to 20 form an integral part of these accounts.**
11
## **Spinning Wheel Ltd - Balance Sheet as at 30 November 2021**
|Note
**SORP**
**Ref**
**Fixed assets**
A
Tangible assets
10
A2
**Current assets**
B
Debtors
11
B2
Cash at bank and in hand
B4
**Total current assets**
**Creditors: amounts falling due within**
**one year**
12
C1
**Net current assets**
**The total net assets**
**Restricted funds**
Restricted Revenue Funds
16
D2
**Unrestricted Funds**
Unrestricted Revenue Funds
16
D3
**Designated Funds**
Designated Revenue Funds
16
D3
**Total charity funds**
**Funds of the Charity**|
**2021**
**£**
-
716
35,339
36,054
(14,354)
21,700
21,700
25,274
(5,421)
1,848
21,700|**2020**
**£**
321
1,211
22,306
23,517
(10,355)
13,162
13,483
15,438
(5,499)
3,545
13,483|**2020**
**£**
321
1,211
22,306
23,517
(10,355)
13,162
13,483
15,438
(5,499)
3,545
13,483|
|---|---|---|---|
|||||
||||13,483|
||||15,438
(5,499)
3,545|
||||13,483|
The directors are satisfied that the company is entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. The charity is subject to Independent Examination under charity legislation, and the report of the Independent Examiner is on page 8.
These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.
A Wyllie
## **A WYLLIE**
Trustee Approved by the board of trustees on 26th August 2022
## **The notes attached on pages 13 to 20 form an integral part of these accounts.**
12
## **Spinning Wheel Ltd**
## **Notes to the Accounts for the year ended 30 November 2021**
## **1 Accounting policies**
## **Basis of preparation and accounting convention**
The accounts have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006.
Spinning Wheel Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **Going Concern**
There are no material uncertainties about the charity's ability to continue.
## **Income**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income can be measured reliably.
## **Recognition of liabilities and expenditure**
Expenditure, is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates.
## _**Tangible fixed assets**_
Tangible fixed assets are initially recorded at cost, with the exception of those valued at £250 or less. These are expensed through the Statement of Financial Activities.
Depreciation has been provided at the following rates in order to write off the assets to their anticipated residual value over their estimated useful lives.
Plant and machinery
20 % straight line basis
## **Debtors**
Debtors are measured at their recoverable amounts at the balance sheet date.
## **Creditors and provisions**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## **Fund Accounting**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor.
## **2 Liability to taxation**
The Trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively on the specific charitable objects of the charity and for no other purpose. Value Added Tax is not recoverable by the charity, and is therefore included in the relevant costs in the Statement of Financial Activities.
13
## **Spinning Wheel Ltd**
## **Notes to the Accounts for the year ended 30 November 2021**
## **3 Significance of financial instruments to the charity's position**
The charity has no financial instruments
## **4 Net surplus / (deficit) before tax in the financial year**
|**4**
**Net surplus / (deficit) before tax in the financial year**|||
|---|---|---|
|Depreciation of owned fixed assets
Trustees' remuneration
**5 Taxation**
UK corporation tax
**6 Staff costs and emoluments**
**_Salary costs_**
Trustees' Remuneration for governance as detailed in note 7
Trustee's Remuneration for fees associated with charitable activities
**Total salaries, wages and related costs**
The net (deficit)/surplus before tax in the financial year is stated after charging:-|**2021**
**£**
321
32,426|**2020**
**£**
525
35,986|
||**2021**
**£**
(399)
**2021**
**£**
-
32,426|**2020**
**£**
(910)
**2020**
**£**
4,000
31,986|
||**32,426**|**35,986**|
The details of remuneration paid to trustees is shown in note 7
No employees received emoluments (excluding pension costs) in excess of £60,000 per annum.
## **7 Remuneration and payments to Trustees and persons connected with them**
|**_Remuneration payable to trustees or connected persons_**
A Wyllie
R Gibbs
R Stubbs
**Total remuneration**|**2021**
**£**
13,400
17,826
1,200|**2020**
**£**
15,543
16,243
4,200|
|---|---|---|
||32,426|35,986|
Amy Wyllie and Roger Stubbs (trustees) and Rebecca Gibbs (director) were paid fees and reimbursed expenses in relation to their work as theatre directors, trainers and set designers in the course of the normal charitable activities of Spinning Wheel Ltd. This is in accordance with the Charity's governing documents.
14
## **Spinning Wheel Ltd**
## **Notes to the Accounts for the year ended 30 November 2021**
## **8 Deferred income - Non-Public Bodies**
|**Restricted funds**
Small grants individually less than £1000
Cambridgeshire Community Foundation
D'Oyly Carte Charitable Trust
**Total**
**These deferrals are included in creditors**
**9 Deferred income - Government and public bodies**
**Restricted funds**
Small grants individually less than £1000
The Arts Council
**Total**
**These deferrals are included in creditors**
**10 Tangible fixed assets**
**Cost**
At 1 December 2020
Additions
**At 30 November 2021**
**Depreciation**
At 1 December 2020
Charge for the year
**At 30 November 2021**
**Net book value**
At 30 November 2021
At 30 November 2020|**Opening**
**Deferrals**
**£**
200
2,000
-|**Released**
**from prior**
**years**
**£**
(200)
(2,000)
-|**Received**
**less released**
**in year**
**£**
200
2,000
4,000|**Deferred**
**at year end**
**£**
200
2,000
4,000|
|---|---|---|---|---|
||2,200|(2,200)|6,200|6,200|
||**Opening**
**Deferrals**
**£**
-
6,930|**Released**
**from prior**
**years**
**£**
-
-|**2021**
**£**
6,200|**2020**
**£**
2,200|
||||**Received**
**less released**
**in year**
**£**
-
-|**Deferred**
**at year end**
**£**
-
6,930|
||6,930|-|-|6,930|
||||**2021**
**£**
6,930|**2020**
**£**
6,930|
||||**Plant &**
**Machinery**
**£**
3,581
-|**Total**
**£**
3,581
-|
||||**3,581**|**3,581**|
||||3,260
321|3,260
321|
||||**3,581**|**3,581**|
||||**-**|**-**|
||||**321**|**321**|
15
## **Spinning Wheel Ltd**
## **Notes to the Accounts for the year ended 30 November 2021**
|**11 Debtors**
Prepayments and accrued income
**12 Creditors: amounts falling due within one year**
Trade creditors
Accruals
Deferred Income - Restricted funds
Corporation tax
Other creditors
**13 Income and Expenditure account summary**
**At 1 December 2020**
(Loss)/surplus after tax for the year
**At 30 November 2021**|**2021**
**£**
716|**2020**
**£**
1,211|
|---|---|---|
||**2021**
**£**
422
750
13,130
-
53|**2020**
**£**
422
750
9,130
-
53|
||**14,355**|**10,355**|
||**2021**
**£**
13,483
8,217|**2020**
**£**
17,731
(4,248)|
||**21,700**|**13,483**|
## **14 Related party transactions**
There were no transactions with related parties in the year, except with regard to trustees' and directors' remuneration and trustees' expenses which are fully disclosed in note 7 above.
## **15 Particulars of how particular funds are represented by assets and liabilities**
|**At 30 November 2021**
Tangible Fixed Assets
Current Assets
Current Liabilities
**At 1 December 2020**
Tangible Fixed Assets
Current Assets
Current Liabilities|**Unrestricted**
**funds**
**£**
-
17,229
(1,222)|**Designated**
**funds**
**£**
-
-
-|**Restricted**
**funds**
**£**
-
18,825
(13,131)|**Total**
**Funds**
**£**
**-**
**36,054**
**(14,353)**|
|---|---|---|---|---|
||**16,007**|**-**|**5,694**|**21,701**|
||**Unrestricted**
**funds**
**£**
321
7,002
(1,225)|**Designated**
**funds**
**£**
-
-
-|**Restricted**
**funds**
**£**
-
16,515
(9,130)|**Total**
**Funds**
**£**
**321**
**23,517**
**(10,355)**|
||**6,098**|**-**|**7,385**|**13,483**|
16
## **Spinning Wheel Ltd**
## **Notes to the Accounts for the year ended 30 November 2021**
## **16 Analysis of movements in funds over the year**
|**_Unrestricted and designated funds:-_**
Unrestricted Revenue Funds
Designated Revenue Funds
**_Restricted funds:-_**
Grants and donations funding specific
theatrical productions|**Income**
**2021**
**£**
30,142
1,697
14,284|**Expenditure**
**2021**
**£**
(31,761)
(1,697)
(4,448)|**Other**
**Gains &**
**Losses**
**2021**
**£**
-
-
-|**Movement**
**in funds**
**2021**
**£**
**(1,619)**
**-**
**9,836**|
|---|---|---|---|---|
||**46,124**|**(37,906)**|**-**|**8,217**|
## **17 Ultimate controlling party**
The charity is under the control of its legal members.
Every member of the charity is obliged to contribute such amount as may be required not exceeding £1 to the assets of the company in the event of its being wound up while he or she is a member.
17
## **Spinning Wheel Ltd**
## _**This analysis is classsified by conventional nominal descriptions and not by activity.**_
## **18 Donations and Legacies**
|**Current year**
**Unrestricted**
**Funds**
**2021**
**£**
**Donations and gifts from individuals**
25
**25**
**Revenue grants from government and public bodies**
-
The Arts Council
-
Big Lottery
-
Cambridge County council
-
**-**
**Revenue grants and donations from non-public bodies**
Chivers Trust
-
The Scarfe Trust
-
Allen Lane Foundation
-
**-**
**Total Donations and Legacies**
**A1**
**25**
**Total private sector revenue grants**
**Total public sector revenue grants**
Small grants individually less than £1000
**Total donations and gifts from individuals**
Small donations individually less than £1000|**Current year**
**Unrestricted**
**Funds**
**2021**
**£**
25|**Current year**
**Restricted**
**Funds**
**2021**
**£**
-
**-**
798
13,486
-
-
**14,284**
-
-
-
**-**
**14,284**|**Current year**
**Total Funds**
**2021**
**£**
**25**
**25**
**798**
**13,486**
**-**
**-**
**14,284**
**-**
**-**
**-**
**-**
**14,309**|**Prior Year**
**Total Funds**
**2020**
**£**
24|
|---|---|---|---|---|
||**25**|||**24**|
|||||800
11,819
10,000
3,192|
|||||**25,811**|
|||||2,000
1,000
3,500|
||**-**|||**6,500**|
||||||
||**25**|||**32,335**|
## **19 Income from charitable activities - Trading Activities**
|**Primary purpose and ancillary trading**
Ticket Sales
Ancillary trading in support of primary purpose
trading
**Total Primary purpose and ancillary trading**|**Current year**
**Unrestricted**
**Funds**
**2021**
**£**
-
31,778|**Current year**
**Restricted**
**Funds**
**2021**
**£**
-
-
**-**|**Current year**
**Total Funds**
**2021**
**£**
**-**
**31,778**
**31,778**|**Prior Year**
**Total Funds**
**2020**
**£**
2,450
6,000|
|---|---|---|---|---|
||**31,778**|||**8,450**|
18
**Spinning Wheel Ltd**
## **20 Total Income from charitable activities**
|**Current year**
**Unrestricted**
**Funds**
**2021**
**£**
Total income from charitable trading
31,778
**Total from charitable activities**
**A2**
**31,778**
**21 Investment income**
**Current year**
**Unrestricted**
**Funds**
**2021**
**£**
Bank Interest Receivable
3
Non Bank interest receivable
33
**Total investment income**
**A4**
**37**|**Current year**
**Unrestricted**
**Funds**
**2021**
**£**
31,778|**Current year**
**Restricted**
**Funds**
**2021**
**£**
-
**-**
**Current year**
**Restricted**
**Funds**
**2021**
**£**
-
-
**-**|**Current year**
**Total Funds**
**2021**
**£**
**31,778**
**31,778**
**Current year**
**Total Funds**
**2021**
**£**
**3**
**33**
**37**|**Prior Year**
**Total Funds**
**2020**
**£**
8,450|
|---|---|---|---|---|
|||||**8,450**|
||**Current year**
**Unrestricted**
**Funds**
**2021**
**£**
3
33|||**Prior Year**
**Total Funds**
**2020**
**£**
7
-|
||**37**|||**7**|
## **22 Expenditure on charitable activities - Charitable trading**
|**Current year**
**Unrestricted**
**Funds**
**2021**
**£**
Props and costumes
677
Venue Hire
433
Subcontract labour
28,339
**Total charitable trading costs**
**B2b**
**29,449**|**Current year**
**Unrestricted**
**Funds**
**2021**
**£**
677
433
28,339|**Current year**
**Restricted**
**Funds**
**2021**
**£**
-
-
3,974
**3,974**|**Current year**
**Prior Year**
**Total Funds**
**Total Funds**
**2021**
**2020**
**£**
**£**
**677**
-
**433**
169
**32,314**
36,039|
|---|---|---|---|
||||**33,424**
**36,209**|
19
## **Spinning Wheel Ltd**
## **23 Support costs for charitable activities**
|**Support costs for charitable activities**|**Support costs for charitable activities**|**Support costs for charitable activities**|
|---|---|---|
|**Current year**
**Current year**
**Current year**
**Prior Year**
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total Funds**
**Total Funds**
**2021**
**2021**
**2021**
**2020**
**£**
**£**
**£**
**£**
**_Employee costs not included in direct costs_**
83
473
**556**
1,665
**_Premises Expenses_**
Storage costs
1,200
-
**1,200**
1,200
**_Administrative overheads_**
6
-
**6**
65
-
-
**-**
141
889
-
**889**
598
49
-
**49**
14
515
1
**516**
213
424
-
**424**
407
-
-
**-**
142
_100_
_-_
**100**
_100_
**_Professional fees paid to advisors other than the auditor or examiner_**
13
-
**13**
13
**_Financial costs_**
4
-
**4**
9
321
-
**321**
525
**Support costs before reallocation**
**3,606**
**473**
**4,079**
**5,091**
**Total support costs**
**3,606**
**473**
**4,079**
**5,091**
Depreciation & Amortisation in total for the period
Bank charges
Other legal and professional
As detailed in Note 24
**_Professional fees paid to the Auditor or Independent Examiner in addition to audit and_**
**_examination fees_**
Software licences and expenses
Advertising and marketing
Liabilty and contents insurance
Sundry expenses
Equipment expenses
Postage
Stationery and printing
Travel and subsistence - staff|||
||**4,079**
**4,079**|**5,091**|
|||**5,091**|
## **24 Other Expenditure - Governance costs**
||**Current year**|**Current year**|**Current year**|**Prior Year**|
|---|---|---|---|---|
||**Unrestricted**|**Restricted**|**Total Funds**|**Total Funds**|
||**Funds**|**Funds**|||
||**2021**|**2021**|**2021**|**2020**|
||**£**|**£**|**£**|**£**|
|Independent Examiner's fees|803|-|**803**|650|
|Trustees' remuneration|-|-|**-**|4,000|
|**Total Governance costs**|**803**|**-**|**803**|**4,650**|
|**_Professional fees paid to the Auditor or Independent Examiner in addition to audit and_**|||||
|**_examination fees_**|||||
||**2021**|**2021**|**2021**|**2020**|
||**£**|**£**|**£**|**£**|
|Tax advisory fees|100|-|**100**|100|
|**Total other fees**|**100**|**-**|**100**|**100**|
20
**Issuer** Claire Bisset **Document generated** Fri, 26th Aug 2022 13:54:22 BST **Document fingerprint** 0e1fc056c92ca89c1508fd40bb9f359c
## **Parties involved with this document**
|**Document processed**|**Party + Fingerprint**|
|---|---|
|Fri, 26th Aug 2022 13:59:26 BST|Ms Amy Wyllie - Signer (ce1859d5ebdcd8f45ee3459d1a266b67)|
|Fri, 26th Aug 2022 13:59:26 BST|Ms Becca Gibbs - Copied In (d4701e373652c3a7af3dcc76073ee074)|
|**Audit history log**||
|**Date**|**Action**|
|Fri, 26th Aug 2022 13:59:29 BST|Ms Amy Wyllie viewed the envelope. (18.132.124.34)|
|Fri, 26th Aug 2022 13:59:28 BST|Document emailed to party email (3.10.139.108)|
|Fri, 26th Aug 2022 13:59:26 BST|The envelope has been signed by all parties. (35.179.60.205)|
|Fri, 26th Aug 2022 13:59:26 BST|Sent a copy of the envelope to Ms Becca Gibbs . (35.179.60.205)|
|Fri, 26th Aug 2022 13:59:26 BST|Ms Amy Wyllie signed the envelope. (35.179.60.205)|
|Fri, 26th Aug 2022 13:57:25 BST|Ms Amy Wyllie viewed the envelope. (35.179.60.205)|
|Fri, 26th Aug 2022 13:54:32 BST|Document emailed to party email (3.10.139.108)|
|Fri, 26th Aug 2022 13:54:24 BST|Sent the envelope to Ms Amy Wyllie for signing. (13.41.66.94)|
|Fri, 26th Aug 2022 13:54:24 BST|Ms Becca Gibbs has been assigned to this envelope. (13.41.66.94)|
|Fri, 26th Aug 2022 13:54:24 BST|Ms Amy Wyllie has been assigned to this envelope. (13.41.66.94)|
|Fri, 26th Aug 2022 13:54:24 BST|Envelope generated. (13.41.66.94)|
|Fri, 26th Aug 2022 13:54:24 BST|Document generated with fingerprint 0e1fc056c92ca89c1508fd40bb9f359c.|
||(13.41.66.94)|
|Fri, 26th Aug 2022 13:54:22 BST|Envelope generated with fingerprint 45e035bf65ba1962df226d707a886d36|
||(18.133.63.166)|