REGISTERED CHARITY NUMBER: 1173321
Trustees' Report and
Unaudited Financial Statements for the Year Ended 31 March 2023
for
Wisbech Theatre Trust
Stephenson Smart (East Anglia) Limited 2 The Crescent Wisbech Cambridgeshire PE13 1EH
Wisbech Theatre Trust
Contents of the Financial Statements for the Year Ended 31 March 2023
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Trustees' Report | 2 to 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Statement of Financial Position | 8 to 9 |
| Statement of Cash Flows | 10 |
| Notes to the Statement of Cash Flows | 11 |
| Notes to the Financial Statements | 12 to 23 |
| Detailed Statement of Financial Activities | 24 to 25 |
Wisbech Theatre Trust
Reference and Administrative Details for the Year Ended 31 March 2023
| Trustees | Mrs A Nixon, Chairman |
|---|---|
| Mr R M J Williams, Treasurer | |
| Mr A J Cooper, Secretary | |
| Mr M Peploe | |
| Mrs L O'Connor | |
| Mr J P Connolly | |
| Mr J C Salmon (resigned 31.03.2023) | |
| Mr K S N Shippey (resigned 31.03.2023) | |
| Principal address | The Angles Theatre |
| Alexandra Road | |
| Wisbech | |
| Cambridgeshire | |
| PE13 1HQ | |
| Registered charity number | 1173321 |
| Independent examiner | Stephenson Smart (East Anglia) Limited |
| 2 The Crescent | |
| Wisbech | |
| Cambridgeshire | |
| PE13 1EH | |
| Solicitors | Fraser Dawbarns LLP |
| 1-3 York Row | |
| Wisbech | |
| Cambridgeshire | |
| PE13 1EA | |
| Website | www.anglestheatre.co.uk |
1
Wisbech Theatre Trust
Trustees' Report for the Year Ended 31 March 2023
The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
Objectives and activities Policies and objectives
The Charity exists to foster and promote:-
a) the maintenance, improvement and development of the Angles Theatre in Wisbech;
b) the knowledge, understanding and appreciation of the arts amongst the inhabitants of Wisbech and its environs.
Activities for achieving objectives
The theatre produces an annual pantomime, various musicals and plays aimed at both the youth and adult market and puts on a variety of professional performances throughout the year. It hires its facilities to other local groups and a dance school. It also runs termly classes through its educational subsidiary, School of Performing Arts Ltd, and annual summer workshops for its youth membership.
Grant making policy
The Charity makes grants out of its restricted income fund for its subsidiary undertaking, The Wisbech School of Performing Arts Ltd, which runs educational courses. It makes no other grants.
Achievement and performance
Review of activities
This financial year saw the continued recovery after COVID-19 closures, with income from charitable activities excluding donations and legacy rising. Donations and legacies during this period were substantially lower than the previous financial year due to the end of the Cultural Recovery Funding received from the Arts Council. Our cash loss for the year after charging depreciation and asset scrapping charges of £23,235 was £3,600. We also incurred irrecoverable VAT of £7,738 for the year.
Works on improving the building continued, with the refurbishment of our kitchen, to provide a safe working area for volunteers working on bar, events or just whilst on breaks.
In person classes have continued, with student numbers increasing nearer to pre-pandemic levels. Our subsidiary The Wisbech School of Performing Arts continues to promote our classes to young people in various disciplines including musical theatre, graded dance classes and exams and holiday workshops.
Our inhouse amateur company continues to produce high quality productions including The Little Shop of Horrors, Kindertransport and our sell out run of Rapunzel.
At the end of March 2023, our long running electricity and gas contracts came to an end, with new pricing being substantially higher than ever before. The trustees will continue to monitor all costs and promote new ways of income generation.
Financial review
Financial and risk management objectives and policies
The trustees use QuickBooks accounting software and Sage forecasting software to generate regular reports and provide an up to date statement as to the financial position of the trust at any one time.
2
Wisbech Theatre Trust
Trustees' Report for the Year Ended 31 March 2023
Financial review
Principal risks and uncertainties
The trustees are continuing to review all of the Charity's operations and developing a strategic plan to set out the major opportunities available to the Charity and the risks to which it is exposed.
As part of this process, the trustees are reviewing the risk management strategy which comprises:
-
an annual review of the risks which the Charity may face;
-
the establishment of systems and procedures to mitigate those risks identified in the plan;
-
the implementation of procedures designed to minimise any potential impact on the Charity should any of these risks materialise.
The trustees have identified certain major risks as follows:
-
substantial increases in energy costs for the foreseeable future
-
the reduction in local government support to the Charity, currently £1,000 from Wisbech Town Council.
-
the reduction in donations from a local Charity, currently £1,666 per month.
The Charity considers that the most effective way to mitigate these risks is to reduce costs to an absolute minimum but not at the risk of comprising the provision of a quality facility to our customers, to grow the number of students in our educational subsidiary company The Wisbech School of Performing Arts Ltd and to earnestly seek funding and grants to maintain and improve our facilities.
Reserves policy
The trustees have examined the Charity's requirements for reserves in the light of the main risks to the organisation and have taken steps to substantially reduce expenditure in the short to medium term to turn the Charity's net current liabilities into net current assets. Once this has been achieved, the trustees will look at the level of reserves needed to run the Charity year on year.
Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
3
Wisbech Theatre Trust
Trustees' Report for the Year Ended 31 March 2023
Future plans
The trustees plans in the next year to:-
a) Undergo capital works to improve the customer experience.
b) Continue to rebuild our audience profile and numbers by more targeted marketing including the installation of a modern automated Box Office system, allowing analysis of reports more effectively, following reopening.
c) Enlist the support of professional organisations to increase our donations and charitable income.
d) Expand further the quantity and variety of in house productions by introducing additional experienced directors.
e) Audit the board's skill set and use the results to further improve the board's skill mix and efficiency.
- f) Explore further partnerships with the community.
g) Maintain the level of reserves to mitigate the reliance upon voluntary donations to the Charity, to enable it to meet its obligations and to expand the activities it undertakes in the Wisbech area.
Structure, governance and management Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Charity constitution
The Wisbech Theatre Trust is constituted by a deed of trust dated 10th May 2017 for the purpose of fostering and promoting the performance arts in Wisbech and the surrounding area.
There have been no changes in the objectives since the last annual report.
Policies adopted for the induction and training of trustees
New Trustees meet with the current board and are given copies of the last financial statements, constitution and budgets
Organisational structure and decision making
A board of trustees of up to twelve members, who meet monthly, to administer the Charity.
The board of trustees is appointed by the members of the Wisbech Theatre Trust at each Annual General Meeting. Of the board so appointed, half retire each year and are eligible for re-appointment, those members retiring having served the longest time in office. Additionally, the Board may itself appoint members to fill any casual vacancy it has and these members offer themselves for re-election at the Annual General Meeting following their appointment.
The trustees' have had due regard to the guidance published by the Charity Commission on Public Benefit
Related parties
The Charity has one related party, its educational subsidiary The Wisbech School of Performing Arts Ltd .
Principal activities
The principal activities of the Charity are the furtherance of a community involvement in the performing, technical and creative arts and the production of theatrical shows and hire of its facilities in furtherance of its objectives.
4
Wisbech Theatre Trust
Trustees' Report for the Year Ended 31 March 2023
Approved by order of the board of trustees on 11 December 2023 and signed on its behalf by:
Mr R M J Williams - Trustee
5
Independent Examiner's Report to the Trustees of Wisbech Theatre Trust
Independent examiner's report to the trustees of Wisbech Theatre Trust
I report to the trustees (who are also Directors for the purpose of company law) on my examination of the financial statements of Wisbech Theatre Trust (‘the charitable company’) for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and related notes.
This report is made solely to the charity’s trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my work, for this report, or for the opinions I have formed.
Responsibilities and basis of report
As the trustees of charitable company 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 charitable company are not required to be audited under Part 16 of the Act and are eligible for independent examination, I report in respect of my examination of the charitable company’s financial statements carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’) and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no 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 charitable company as required by section 386 of the 2006 Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the financial statements give a ‘true and fair view which is not a matter considered as part of an independent examination; or
-
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Christopher Goad BFP FCA
Stephenson Smart (East Anglia) Limited 2 The Crescent Wisbech Cambridgeshire PE13 1EH
11 December 2023
6
Wisbech Theatre Trust
Statement of Financial Activities for the Year Ended 31 March 2023
| Unrestricted Restricted fund funds Notes £ £ Income and endowments from Donations and legacies 2 25,688 - Charitable activities Professional performances 1,728 - Refreshment sales 20,551 - Other premises hire 14,668 - Equipment hire 3,375 - Amateur performances 35,402 - Other 2,656 - Other trading activities 3 3,396 - Investment income 4 6 22 Total 107,470 22 Expenditure on Charitable activities 5 Support costs 82,626 - Professional performances 3,000 - General theatre expenses 3,092 - Refreshment sales 12,213 - Other premises hire - - Equipment hire 2,846 - Amateur performances 18,332 - Governance costs 4,458 - Unrecovered VAT 7,738 - Total 134,305 - NET INCOME/(EXPENDITURE) (26,835) 22 Reconciliation of funds Total funds brought forward 82,542 12,478 Total funds carried forward 55,707 12,500 |
31.3.23 Total funds £ 25,688 1,728 20,551 14,668 3,375 35,402 2,656 3,396 28 107,492 82,626 3,000 3,092 12,213 - 2,846 18,332 4,458 7,738 134,305 (26,813) 95,020 68,207 |
31.3.22 Total funds £ 99,063 - 15,831 6,241 1,667 29,480 995 - 4 153,281 70,663 (296) 9,266 12,345 23 2,195 25,533 4,560 13,187 137,476 15,805 79,215 95,020 |
|---|---|---|
The notes form part of these financial statements
7
Wisbech Theatre Trust
Statement of Financial Position
31 March 2023
| Unrestricted Restricted fund funds Notes £ £ Fixed assets Tangible assets 10 69,130 - Investments 11 1 - 69,131 - Current assets Stocks 12 17,072 - Debtors 13 16,577 - Cash at bank and in hand 6,583 12,500 40,232 12,500 Creditors Amounts falling due within one year 14 (36,766) - Net current assets 3,466 12,500 Total assets less current liabilities 72,597 12,500 Creditors Amounts falling due after more than one year 15 (16,890) - NET ASSETS 55,707 12,500 |
31.3.23 Total funds £ 69,130 1 69,131 17,072 16,577 19,083 52,732 (36,766) 15,966 85,097 (16,890) 68,207 |
31.3.22 Total funds £ 86,894 1 86,895 17,998 18,049 53,841 89,888 (58,927) 30,961 117,856 (22,836) 95,020 |
|---|---|---|
The notes form part of these financial statements
8
Wisbech Theatre Trust
Statement of Financial Position - continued 31 March 2023
| Funds 17 Unrestricted funds Restricted funds Total funds |
55,707 12,500 68,207 |
82,542 12,478 95,020 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 11 December 2023 and were signed on its behalf by:
Mrs A Nixon - Trustee
Mr R M J Williams - Trustee
The notes form part of these financial statements
9
Wisbech Theatre Trust
Statement of Cash Flows for the Year Ended 31 March 2023
| Notes Cash flows from operating activities Cash generated from operations 1 Interest paid Net cash (used in)/provided by operating activities Cash flows from investing activities Purchase of tangible fixed assets Interest received Net cash used in investing activities Cash flows from financing activities New loans in year Loan repayments in year Net cash (used in)/provided by financing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
31.3.23 £ (11,431) (297) (11,728) (5,471) 28 (5,443) - (17,587) (17,587) (34,758) 53,841 19,083 |
31.3.22 £ 68,861 (111) 68,750 (51,848) 4 (51,844) 8,042 (4,880) 3,162 20,068 33,773 53,841 |
|---|---|---|
The notes form part of these financial statements
10
Wisbech Theatre Trust
Notes to the Statement of Cash Flows for the Year Ended 31 March 2023
1. Reconciliation of net (expenditure)/income to net cash flow from operating activities
| Net (expenditure)/income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Loss on disposal of fixed assets Interest received Interest paid Decrease/(increase) in stocks Decrease in debtors (Decrease)/increase in creditors Net cash (used in)/provided by operations |
31.3.23 £ (26,813) 16,713 6,522 (28) 297 926 1,472 (10,520) (11,431) |
31.3.22 £ 15,805 13,105 203 (4) 111 (5,520) 15,985 29,176 68,861 |
|---|---|---|
2. Analysis of changes in net funds/(debt)
| At 1.4.22 Cash flow At £ £ Net cash Cash at bank and in hand 53,841 (34,758) 53,841 (34,758) Debt Debts falling due within 1 year (17,041) 11,641 Debts falling due after 1 year (22,836) 5,946 (39,877) 17,587 Total 13,964 (17,171) |
31.3.23 £ 19,083 19,083 (5,400) (16,890) (22,290) (3,207) |
|---|---|
The notes form part of these financial statements
11
Notes to the Financial Statements for the Year Ended 31 March 2023
Wisbech Theatre Trust
1. Accounting policies
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', 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, with the exception of investments which are included at market value.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
-
due to the Covid-19 pandemic and the closure of businesses under UK Government legislation, the Charity utilised the furlough scheme whereby the Government contributed towards the wage costs of the Charity. The amounts received are reported under grant income in the financial statements. The income is reported in the period that the relief relates.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings
- 20% on reducing balance
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
12
Wisbech Theatre Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
1. Accounting policies - continued
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Group accounts
Group accounts have not been prepared because the Charity, as a small reporting entity, is exempt from the requirement to prepare such accounts under Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
2. Donations and legacies
3.
| Donations Grants receivable Subscriptions Grants received, included in the above, are as follows: Other grants Other trading activities Fundraising events |
31.3.23 £ 23,504 2,000 184 25,688 31.3.23 £ 2,000 31.3.23 £ 3,396 |
31.3.22 £ 55,132 42,667 1,264 99,063 31.3.22 £ 42,667 31.3.22 £ - |
|---|---|---|
Grants received, included in the above, are as follows:
13
Wisbech Theatre Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
4. Investment income
| 4. | Investment income | ||
|---|---|---|---|
| 31.3.23 | 31.3.22 | ||
| £ | £ | ||
| Deposit account interest | 28 | 4 | |
| 5. | Charitable activities costs |
| Charitable activities costs | ||
|---|---|---|
| Support costs Professional performances General theatre expenses Refreshment sales Equipment hire Amateur performances Governance costs Unrecovered VAT |
Support Direct costs (see Costs note 6) £ £ - 82,626 3,000 - 3,056 36 12,213 - 2,846 - 18,332 - - 4,458 - 7,738 39,447 94,858 |
Totals £ 82,626 3,000 3,092 12,213 2,846 18,332 4,458 7,738 |
| 134,305 |
6. Support costs
| Support costs | ||
|---|---|---|
| Management £ Support costs 80,315 General theatre expenses 36 Governance costs - Unrecovered VAT 7,738 88,089 |
Governance Finance costs £ £ 2,311 - - - - 4,458 - - 2,311 4,458 |
Totals £ 82,626 36 4,458 7,738 |
| 94,858 |
14
Wisbech Theatre Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
6. Support costs - continued
Support costs, included in the above, are as follows:
| Support costs - continued Support costs, included in the above, are as follows: |
|||
|---|---|---|---|
| General | |||
| Support | theatre | Governance | |
| costs | expenses | costs | |
| £ | £ | £ | |
| Wages | 6,300 | - | - |
| Rent | 6,180 | - | - |
| Water | 953 | - | - |
| Light and heat | 10,091 | - | - |
| Repairs and renewals | 2,716 | - | - |
| Insurance | 8,185 | - | - |
| Advertising | 3,335 | - | - |
| Health and safety | 279 | - | - |
| Office and box office costs | 9,835 | 36 | - |
| Cleaning | 4,420 | - | - |
| Sundries | 3,590 | - | - |
| Unrecovered VAT | - | - | - |
| Motor and travel costs | 899 | - | - |
| Depreciation of tangible and heritage assets | 16,713 | - | - |
| Loss on sale of tangible fixed assets | 6,522 | - | - |
| Interest payable and similar charges | 297 | - | - |
| Bank charges | 2,311 | - | - |
| Accountancy fees | - | - | 450 |
| Legal and other professional | - | - | 1,132 |
| Independent exam fees | - | - | 2,250 |
| Trustee insurance | - | - | 626 |
| 82,626 | 36 | 4,458 | |
| 31.3.23 | 31.3.22 | ||
| Unrecovered | Total | Total | |
| VAT | activities | activities | |
| £ | £ | £ | |
| Wages | - | 6,300 | 4,988 |
| Rent | - | 6,180 | 2,400 |
| Water | - | 953 | 926 |
| Light and heat | - | 10,091 | 7,878 |
| Repairs and renewals | - | 2,716 | 9,755 |
| Insurance | - | 8,185 | 7,183 |
| Advertising | - | 3,335 | 4,985 |
| Health and safety | - | 279 | 1,124 |
| Office and box office costs | - | 9,871 | 12,569 |
| Cleaning | - | 4,420 | 2,712 |
| Sundries | - | 3,590 | 1,100 |
| Unrecovered VAT | 7,738 | 7,738 | 13,187 |
| Motor and travel costs | - | 899 | 427 |
| Depreciation of tangible and heritage assets | - | 16,713 | 12,455 |
| Carried forward | 7,738 | 81,270 | 81,689 |
15
Wisbech Theatre Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
6. Support costs - continued
| Support costs - continued | |||
|---|---|---|---|
| 31.3.23 | 31.3.22 | ||
| Unrecovered | Total | Total | |
| VAT | activities | activities | |
| £ | £ | £ | |
| Brought forward | 7,738 | 81,270 | 81,689 |
| Loss on sale of tangible fixed assets | - | 6,522 | 203 |
| Interest payable and similar charges | - | 297 | 111 |
| Bank charges | - | 2,311 | 1,847 |
| Accountancy fees | - | 450 | 950 |
| Legal and other professional | - | 1,132 | 100 |
| Independent exam fees | - | 2,250 | 3,150 |
| Trustee insurance | - | 626 | 360 |
| 7,738 | 94,858 | 88,410 |
7. Trustees' remuneration and benefits
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
8. Staff costs
| Staff costs | ||
|---|---|---|
| 31.3.23 | 31.3.22 | |
| £ | £ | |
| Wages and salaries | 6,300 | 4,988 |
| 6,300 | 4,988 |
The average monthly number of employees during the year was as follows:
| Technician Support |
31.3.23 1 1 2 |
31.3.22 1 1 2 |
|---|---|---|
No employees received emoluments in excess of £60,000.
16
Wisbech Theatre Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
| 9. Comparatives for the statement of financial activities Unrestricted Restricted fund funds £ £ Income and endowments from Donations and legacies 65,513 33,550 Charitable activities Refreshment sales 15,831 - Other premises hire 6,241 - Equipment hire 1,667 - Amateur performances 29,480 - Other 995 - Investment income 2 2 Total 119,729 33,552 Expenditure on Charitable activities Support costs 70,663 - Professional performances (296) - General theatre expenses 9,266 - Refreshment sales 12,345 - Other premises hire 23 - Equipment hire 2,195 - Amateur performances 25,533 - Governance costs 4,560 - Unrecovered VAT 13,187 - Total 137,476 - NET INCOME/(EXPENDITURE) (17,747) 33,552 Transfers between funds 31,001 (31,001) Net movement in funds 13,254 2,551 Reconciliation of funds Total funds brought forward 69,288 9,927 Total funds carried forward 82,542 12,478 |
Total funds £ 99,063 15,831 6,241 1,667 29,480 995 4 153,281 70,663 (296) 9,266 12,345 23 2,195 25,533 4,560 13,187 137,476 15,805 - 15,805 79,215 95,020 |
|---|---|
17
Wisbech Theatre Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
10. Tangible fixed assets
| 10. | Tangible fixed assets | |
|---|---|---|
| Fixtures | ||
| and | ||
| fittings | ||
| £ | ||
| Cost | ||
| At 1 April 2022 | 119,141 | |
| Additions | 5,471 | |
| Disposals | (12,167) | |
| At 31 March 2023 | 112,445 | |
| Depreciation | ||
| At 1 April 2022 | 32,247 | |
| Charge for year | 16,713 | |
| Eliminated on disposal | (5,645) | |
| At 31 March 2023 | 43,315 | |
| Net book value | ||
| At 31 March 2023 | 69,130 | |
| At 31 March 2022 | 86,894 | |
| 11. | Fixed asset investments | |
| Shares in | ||
| group | ||
| undertakings | ||
| £ | ||
| Market value | ||
| At 1 April 2022 and 31 March 2023 | 1 | |
| Net book value | ||
| At 31 March 2023 | 1 | |
| At 31 March 2022 | 1 |
There were no investment assets outside the UK.
18
Wisbech Theatre Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
| 12. Stocks Stocks 13. Debtors: amounts falling due within one year Trade debtors Amounts owed by group undertakings VAT Prepayments and accrued income 14. Creditors: amounts falling due within one year Bank loans and overdrafts (see note 16) Trade creditors Taxation and social security Other creditors 15. Creditors: amounts falling due after more than one year Bank loans (see note 16) 16. Loans An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank loans Other loans Amounts falling due after one year: Bank loans |
31.3.23 £ 17,072 31.3.23 £ 990 8,051 - 7,536 16,577 31.3.23 £ 4,400 17,764 395 14,207 36,766 31.3.23 £ 16,890 31.3.23 £ 4,400 1,000 5,400 16,890 |
31.3.22 £ 17,998 31.3.22 £ 1,220 4,177 2,113 10,539 18,049 31.3.22 £ 4,400 30,808 (79) 23,798 58,927 31.3.22 £ 22,836 31.3.22 £ 4,400 12,641 17,041 22,836 |
|---|---|---|
19
Wisbech Theatre Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
| 17. | Movement in funds | |||||
|---|---|---|---|---|---|---|
| Net | ||||||
| movement | ||||||
| At 1.4.22 | in funds | At 31.3.23 | ||||
| £ | £ | £ | ||||
| Unrestricted funds | ||||||
| General fund | 82,542 | (26,835) | 55,707 | |||
| Restricted funds | ||||||
| Air-conditioning fund | 8,287 | 18 | 8,305 | |||
| Almary Green fund | 19 | 1 | 20 | |||
| Robert Hall - Seat safety fund | 4,172 | 3 | 4,175 | |||
| 12,478 | 22 | 12,500 | ||||
| TOTAL FUNDS | 95,020 | (26,813) | 68,207 | |||
| Net movement in funds, included in the above are as follows: | ||||||
| Incoming | Resources | Movement | ||||
| resources | expended | in funds | ||||
| £ | £ | £ | ||||
| Unrestricted funds | ||||||
| General fund | 107,470 | (134,305) | (26,835) | |||
| Restricted funds | ||||||
| Air-conditioning fund | 18 | - | 18 | |||
| Almary Green fund | 1 | - | 1 | |||
| Robert Hall - Seat safety fund | 3 | - | 3 | |||
| 22 | - | 22 | ||||
| TOTAL FUNDS | 107,492 | (134,305) | (26,813) |
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Wisbech Theatre Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
17. Movement in funds - continued
Comparatives for movement in funds
| Net | Transfers | ||||
|---|---|---|---|---|---|
| movement | between | ||||
| At | 1.4.21 | in funds | funds | At 31.3.22 | |
| £ | £ | £ | £ | ||
| Unrestricted funds | |||||
| General fund | 69,288 | (17,747) | 31,001 | 82,542 | |
| Restricted funds | |||||
| Air-conditioning fund | 8,286 | 1 | - | 8,287 | |
| Almary Green fund | 19 | - | - | 19 | |
| Robert Hall - Seat safety fund | 1,622 | 2,550 | - | 4,172 | |
| Building works fund | - | 31,001 | (31,001) | - | |
| 9,927 | 33,552 | (31,001) | 12,478 | ||
| TOTAL FUNDS | 79,215 | 15,805 | - | 95,020 | |
| Comparative net movement in funds, included in the | above are as follows: | ||||
| Incoming | Resources | Movement | |||
| resources | expended | in funds | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 119,729 | (137,476) | (17,747) | ||
| Restricted funds | |||||
| Air-conditioning fund | 1 | - | 1 | ||
| Robert Hall - Seat safety fund | 2,550 | - | 2,550 | ||
| Building works fund | 31,001 | - | 31,001 | ||
| 33,552 | - | 33,552 | |||
| TOTAL FUNDS | 153,281 | (137,476) | 15,805 |
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Wisbech Theatre Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
17. Movement in funds - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net Transfers movement between At 1.4.21 in funds funds At £ £ £ Unrestricted funds General fund 69,288 (44,582) 31,001 Restricted funds Air-conditioning fund 8,286 19 - Almary Green fund 19 1 - Robert Hall - Seat safety fund 1,622 2,553 - Building works fund - 31,001 (31,001) 9,927 33,574 (31,001) TOTAL FUNDS 79,215 (11,008) - |
31.3.23 £ 55,707 8,305 20 4,175 - 12,500 68,207 |
|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 227,199 | (271,781) | (44,582) |
| Restricted funds | |||
| Air-conditioning fund | 19 | - | 19 |
| Almary Green fund | 1 | - | 1 |
| Robert Hall - Seat safety fund | 2,553 | - | 2,553 |
| Building works fund | 31,001 | - | 31,001 |
| 33,574 | - | 33,574 | |
| TOTAL FUNDS | 260,773 | (271,781) | (11,008) |
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Wisbech Theatre Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
18. Other financial commitments
At 31 March 2023 the charity had annual commitments under non-cancellable operating leases as follows:
| 31.3.23 | 31.3.22 | |
|---|---|---|
| Expiry date: | £ | £ |
| No later than 1 year | 6,000 | 6,000 |
| Between 2 and 5 years | 24,000 | 24,000 |
| Later than 5 years | 129,500 | 135,500 |
19. Related party disclosures
During the year the charity received income from Wisbech School of Performing Arts Ltd, a subsidiary, amounting to £15,730 (2022 : £5,752). At the 31 March 2023 the amount owed by Wisbech School of Performing Arts was £8,051 (2022 : £4,177).
The charity purchased services from Tin Fish Creative Communications Limited, a company owned by Mrs A Nixon, amounting to £809 (2022 : £5,012). At the 31 March 2023 the amount owed to Tin Fish Creative Communications Limited was £152 (2022 : £913).
The charity purchased goods from MP Audio Ltd, a company owned by Mr M Peploe, amounting to £Nil (2022 : £Nil). At the 31 March 2023 the amount owed to MP Audio Ltd was £Nil (2022: £3,600) which is repayable interest free over 12 months.
20. Controlling party
The charity has no overall controlling party.
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Wisbech Theatre Trust
Detailed Statement of Financial Activities for the Year Ended 31 March 2023
| Income and endowments Donations and legacies Donations Grants receivable Subscriptions Other trading activities Fundraising events Investment income Deposit account interest Charitable activities Professional theatrical performances Bar, ice cream and confectionary sales Facilities hire Equipment hire Amateur theatrical performance Other Total incoming resources Expenditure Charitable activities Production costs Repairs and renewals Sundries Insurance Fixtures and fittings Support costs Management Wages Rent Carried forward |
31.3.23 £ 23,504 2,000 184 25,688 3,396 28 1,728 20,551 14,668 3,375 35,402 2,656 78,380 107,492 38,782 - 79 586 - 39,447 6,300 6,180 12,480 |
31.3.22 £ 55,132 42,667 1,264 99,063 - 4 - 15,831 6,241 1,667 29,480 995 54,214 153,281 44,490 3,205 193 528 650 49,066 4,988 2,400 7,388 |
|---|---|---|
This page does not form part of the statutory financial statements
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Wisbech Theatre Trust
Detailed Statement of Financial Activities for the Year Ended 31 March 2023
| Management Brought forward Water Light and heat Repairs and renewals Insurance Advertising Health and safety Office and box office costs Cleaning Sundries Unrecovered VAT Motor and travel costs Fixtures and fittings Loss on sale of tangible fixed assets Loan Finance Bank charges Governance costs Accountancy fees Legal and other professional Independent exam fees Trustee insurance Total resources expended Net (expenditure)/income |
31.3.23 £ 12,480 953 10,091 2,716 8,185 3,335 279 9,871 4,420 3,590 7,738 899 16,713 6,522 297 88,089 2,311 450 1,132 2,250 626 4,458 134,305 (26,813) |
31.3.22 £ 7,388 926 7,878 9,755 7,183 4,985 1,124 12,569 2,712 1,100 13,187 427 12,455 203 111 82,003 1,847 950 100 3,150 360 4,560 137,476 15,805 |
|---|---|---|
This page does not form part of the statutory financial statements
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