**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:
1. accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act; or
2. the financial statements do not accord with those records; or
3. 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
4. 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)||
20
## **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|
21
## **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)|
22
## **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.
23
## **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
24
## **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
25