**REGISTERED CHARITY NUMBER: 1173321**
## **Trustees' Report and**
**Unaudited Financial Statements for the Year Ended 31 March 2024**
**for**
## **Wisbech Theatre Trust**
Stephenson Smart (East Anglia) Limited 2 The Crescent Wisbech Cambridgeshire PE13 1EH
**Contents of the Financial Statements for the Year Ended 31 March 2024**
## **Wisbech Theatre Trust**
||**Page**|
|---|---|
|**Reference and Administrative Details**|1|
|**Trustees' Report**|2 to 4|
|**Independent Examiner's Report**|5|
|**Statement of Financial Activities**|6|
|**Statement of Financial Position**|7 to 8|
|**Statement of Cash Flows**|9|
|**Notes to the Statement of Cash Flows**|10|
|**Notes to the Financial Statements**|11 to 21|
|**Detailed Statement of Financial Activities**|22 to 23|
## **Wisbech Theatre Trust**
## **Reference and Administrative Details for the Year Ended 31 March 2024**
|**Trustees**|Mr M Peploe|
|---|---|
||Mr R M J Williams|
||Mr A J Cooper|
||Mrs A Nixon, Chairman|
||Mrs L O'Connor, Secretary|
||Mr J P Connolly|
||Mr J Shippey (appointed 1.7.2024)|
|**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 2024**
The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. 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, Wisbech School of Performing Arts Ltd, and annual summer workshops for its youth membership.
## **Achievement and performance**
## **Review of activities**
This financial year saw the cost of living crisis hit it's peak with dramatic increases in energy costs. In the year ending March 2024, light and heat expenditure was £23,269 compared to March 2023 - £10,091. This increase in cost has a dramatic effect on the charities capability to run a full programme of events and classes. Programming was reduced to mitigate the increase in cost. During the year, our inhouse company still mounted several financially successful productions including Frozen Jr, Six Teen Edition and our yearly pantomime - Goldilocks and the Three Bears. All of these productions were nominated for regional awards, with Six: Teen Edition winning its category as well as Best Overall Production.
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.
During the year ending March 2024, Donations, Grants and Subscriptions were increased as well as ticket sales from our inhouse productions. Our cash loss for the year after charging depreciation of £13,665 was £1,248. We also incurred irrecoverable VAT of £8,912 for the year.
The trustees 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 2024**
## **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:
- 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.
## **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.
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.
3
## **Wisbech Theatre Trust**
## **Trustees' Report for the Year Ended 31 March 2024**
## **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.
Approved by order of the board of trustees on 28 January 2025 and signed on its behalf by:
Mr R M J Williams - Trustee
4
**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 charity trustees on my examination of the accounts of Wisbech Theatre Trust (the Trust) for the year ended 31 March 2024.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the 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 Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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 accounts to be reached.
Christopher Goad BFP FCA
Stephenson Smart (East Anglia) Limited 2 The Crescent Wisbech Cambridgeshire PE13 1EH
28 January 2025
5
## **Wisbech Theatre Trust**
## **Statement of Financial Activities for the Year Ended 31 March 2024**
|**Unrestricted**
**Restricted**
**fund**
**funds**
**Notes**
**£**
**£**
**Income and endowments from**
Donations and legacies
2
30,953
-
**Charitable activities**
Professional performances
2,923
-
Refreshment sales
18,505
-
Other premises hire
15,577
-
Equipment hire
4,220
-
Amateur performance costs
42,790
-
Other
982
-
Other trading activities
3
1,403
-
Investment income
4
68
143
**Total**
117,421
143
**Expenditure on**
**Charitable activities**
5
Support costs
85,196
-
Professional performances
1,585
-
General theatre expenses
1,889
-
Refreshment sales
11,120
-
Equipment hire
240
-
Amateur performance costs
19,190
-
Governance costs
4,345
-
Unrecovered VAT
8,912
-
**Total**
132,477
-
**NET INCOME/(EXPENDITURE)**
(15,056)
143
**Reconciliation of funds**
Total funds brought forward
55,707
12,500
**Total funds carried forward**
40,651
12,643|**31.3.24**
**Total**
**funds**
**£**
30,953
2,923
18,505
15,577
4,220
42,790
982
1,403
211
117,564
85,196
1,585
1,889
11,120
240
19,190
4,345
8,912
132,477
(14,913)
68,207
53,294|**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|
|---|---|---|
The notes form part of these financial statements
6
## **Wisbech Theatre Trust**
## **Statement of Financial Position**
## **31 March 2024**
|**Unrestricted**
**Restricted**
**fund**
**funds**
**Notes**
**£**
**£**
**Fixed assets**
Tangible assets
10
58,809
-
Investments
11
1
-
58,810
-
**Current assets**
Stocks
12
17,124
-
Debtors
13
14,225
-
Cash at bank and in hand
13,713
12,643
45,062
12,643
**Creditors**
Amounts falling due within one year
14
(47,264)
-
**Net current assets**
(2,202)
12,643
**Total assets less current liabilities**
56,608
12,643
**Creditors**
Amounts falling due after more than one year
15
(15,957)
-
**NET ASSETS**
40,651
12,643|**31.3.24**
**Total**
**funds**
**£**
58,809
1
58,810
17,124
14,225
26,356
57,705
(47,264)
10,441
69,251
(15,957)
53,294|**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|
|---|---|---|
The notes form part of these financial statements
7
## **Wisbech Theatre Trust**
## **Statement of Financial Position - continued 31 March 2024**
|**Funds**
17
Unrestricted funds
Restricted funds
**Total funds**|40,651
12,643
53,294|55,707
12,500
68,207|
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 28 January 2025 and were signed on its behalf by:
Mr R M J Williams - Trustee
Mrs A Nixon, Chairman - Trustee
The notes form part of these financial statements
8
## **Wisbech Theatre Trust**
## **Statement of Cash Flows for the Year Ended 31 March 2024**
|**Notes**
**Cash flows from operating activities**
Cash generated from operations
1
Interest paid
Net cash provided by/(used in) 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**
Loan repayments in year
Net cash used in 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**|**31.3.24**
**£**
13,645
(641)
13,004
(3,343)
211
(3,132)
(2,599)
(2,599)
7,273
19,083
26,356|**31.3.23**
**£**
(11,431)
(297)
(11,728)
(5,471)
28
(5,443)
(17,587)
(17,587)
(34,758)
53,841
19,083|
|---|---|---|
The notes form part of these financial statements
9
## **Wisbech Theatre Trust**
## **Notes to the Statement of Cash Flows for the Year Ended 31 March 2024**
|**1.**
**Reconciliation of net expenditure to net cash flow from operating activities**
**31.3.24**
**£**
**Net expenditure for the reporting period (as per the Statement of**
**Financial Activities)**
(14,913)
**Adjustments for:**
Depreciation charges
13,665
Loss on disposal of fixed assets
-
Interest received
(211)
Interest paid
641
(Increase)/decrease in stocks
(52)
Decrease in debtors
2,352
Increase/(decrease) in creditors
12,163
**Net cash provided by/(used in) operations**
13,645
**2.**
**Analysis of changes in net (debt)/funds**
**At 1.4.23**
**Cash flow**
**At**
**£**
**£**
**Net cash**
Cash at bank and in hand
19,083
7,273
19,083
7,273
**Debt**
Debts falling due within 1 year
(5,400)
1,665
Debts falling due after 1 year
(16,890)
933
(22,290)
2,598
**Total**
(3,207)
9,871|**31.3.23**
**£**
(26,813)
16,713
6,522
(28)
297
926
1,472
(10,520)
(11,431)
**31.3.24**
**£**
26,356
26,356
(3,735)
(15,957)
(19,692)
6,664|
|---|---|
The notes form part of these financial statements
10
**Notes to the Financial Statements for the Year Ended 31 March 2024**
## **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.
11
## **Wisbech Theatre Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
## **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|**31.3.24**
**£**
25,246
5,000
707
30,953
**31.3.24**
**£**
5,000
**31.3.24**
**£**
1,403|**31.3.23**
**£**
23,504
2,000
184
25,688
**31.3.23**
**£**
2,000
**31.3.23**
**£**
3,396|
|---|---|---|
Grants received, included in the above, are as follows:
12
## **Wisbech Theatre Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
|**4.**
**Investment income**
Deposit account interest
**5.**
**Charitable activities costs**
Support costs
Professional performances
General theatre expenses
Refreshment sales
Equipment hire
Amateur performance costs
Governance costs
Unrecovered VAT|**31.3.24**
**£**
211
**Support**
**Direct**
**costs (see**
**Costs**
**note 6)**
**£**
**£**
-
85,196
1,585
-
1,889
-
11,120
-
240
-
19,190
-
-
4,345
-
8,912
34,024
98,453|**31.3.23**
**£**
28
**Totals**
**£**
85,196
1,585
1,889
11,120
240
19,190
4,345
8,912
132,477|
|---|---|---|
|**6.**|**Support costs**||||||
|---|---|---|---|---|---|---|
||||||**Governance**||
||||**Management**|**Finance**|**costs**|**Totals**|
||||**£**|**£**|**£**|**£**|
||Support costs||82,051|3,145|-|85,196|
||Governance costs||-|-|4,345|4,345|
||Unrecovered VAT||8,912|-|-|8,912|
||||90,963|3,145|4,345|98,453|
||Support costs, included in the|above, are as|follows:||||
||||||**31.3.24**|**31.3.23**|
|||**Support**|**Governance**|**Unrecovered**|**Total**|**Total**|
|||**costs**|**costs**|**VAT**|**activities**|**activities**|
|||**£**|**£**|**£**|**£**|**£**|
||Wages|4,186|-|-|4,186|6,300|
||Rent|6,405|-|-|6,405|6,180|
||Water|1,129|-|-|1,129|953|
||Light and heat|23,269|-|-|23,269|10,091|
||Repairs and renewals|4,119|-|-|4,119|2,716|
||Insurance|5,537|-|-|5,537|8,185|
||Advertising|2,301|-|-|2,301|3,335|
||Health and safety|779|-|-|779|279|
||Office and box office costs|9,869|-|-|9,869|9,871|
||Carried forward|57,594|-|-|57,594|47,910|
13
## **Wisbech Theatre Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
## **6. Support costs - continued**
|**Support costs - continued**||||||
|---|---|---|---|---|---|
|||||31.3.24|31.3.23|
||**Support**|**Governance**|**Unrecovered**|**Total**|**Total**|
||**costs**|**costs**|**VAT**|**activities**|**activities**|
||**£**|**£**|**£**|**£**|**£**|
|Brought forward|57,594|-|-|57,594|47,910|
|Cleaning|6,190|-|-|6,190|4,420|
|Sundries|3,761|-|-|3,761|3,590|
|Unrecovered VAT|-|-|8,912|8,912|7,738|
|Motor and travel costs|200|-|-|200|899|
|Depreciation of tangible||||||
|and heritage assets|13,665|-|-|13,665|16,713|
|Loss on sale of tangible||||||
|fixed assets|-|-|-|-|6,522|
|Interest payable and similar||||||
|charges|641|-|-|641|297|
|Bank charges|3,145|-|-|3,145|2,311|
|Accountancy fees|-|450|-|450|450|
|Legal and other||||||
|professional|-|1,253|-|1,253|1,132|
|Independent exam fees|-|2,250|-|2,250|2,250|
|Trustee insurance|-|392|-|392|626|
||85,196|4,345|8,912|98,453|94,858|
## **7. Trustees' remuneration and benefits**
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
## **8. Staff costs**
|**Staff costs**|||
|---|---|---|
||**31.3.24**|**31.3.23**|
||**£**|**£**|
|Wages and salaries|4,186|6,300|
||4,186|6,300|
The average monthly number of employees during the year was as follows:
||**31.3.24**|**31.3.23**|
|---|---|---|
|Support|1|2|
No employees received emoluments in excess of £60,000.
14
## **Wisbech Theatre Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
|**9.**
**Comparatives for the statement of financial activities**
**Unrestricted**
**Restricted**
**fund**
**funds**
**£**
**£**
**Income and endowments from**
Donations and legacies
25,688
-
**Charitable activities**
Professional performances
1,728
-
Refreshment sales
20,551
-
Other premises hire
14,668
-
Equipment hire
3,375
-
Amateur performance costs
35,402
-
Other
2,656
-
Other trading activities
3,396
-
Investment income
6
22
**Total**
107,470
22
**Expenditure on**
**Charitable activities**
Support costs
82,626
-
Professional performances
3,000
-
General theatre expenses
3,092
-
Refreshment sales
12,213
-
Equipment hire
2,846
-
Amateur performance costs
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|**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|
|---|---|
15
## **Wisbech Theatre Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
## **10. Tangible fixed assets**
|**10.**|**Tangible fixed assets**||
|---|---|---|
|||**Fixtures**|
|||**and**|
|||**fittings**|
|||**£**|
||**Cost**||
||At 1 April 2023|112,445|
||Additions|3,343|
||At 31 March 2024|115,788|
||**Depreciation**||
||At 1 April 2023|43,315|
||Charge for year|13,664|
||At 31 March 2024|56,979|
||**Net book value**||
||At 31 March 2024|58,809|
||At 31 March 2023|69,130|
|**11.**|**Fixed asset investments**||
|||**Shares in**|
|||**group**|
|||**undertakings**|
|||**£**|
||**Market value**||
||At 1 April 2023 and 31 March 2024|1|
||**Net book value**||
||At 31 March 2024|1|
||At 31 March 2023|1|
There were no investment assets outside the UK.
16
## **Wisbech Theatre Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
|**12.**
**Stocks**
Stocks
**13.**
**Debtors: amounts falling due within one year**
Trade debtors
Amounts owed by group
undertakings
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 between one and two years:
Bank loans|**31.3.24**
**£**
17,124
**31.3.24**
**£**
294
3,661
10,270
14,225
**31.3.24**
**£**
2,735
22,562
161
21,806
47,264
**31.3.24**
**£**
15,957
**31.3.24**
**£**
2,735
1,000
3,735
15,957|**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|
|---|---|---|
17
## **Wisbech Theatre Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
|**17.**|**Movement in funds**||||||
|---|---|---|---|---|---|---|
|||||**Net**|||
||||**movement**||||
|||**At 1.4.23**||**in funds**|**At 31.3.24**||
|||**£**||**£**||**£**|
||**Unrestricted funds**||||||
||General fund|55,707||(15,056)|40,651||
||**Restricted funds**||||||
||Air-conditioning fund|8,305||99||8,404|
||Almary Green fund|20||34||54|
||Robert Hall - Seat safety fund|4,175||10||4,185|
|||12,500||143|12,643||
||**TOTAL FUNDS**|68,207||(14,913)|53,294||
||Net movement in funds, included in the above are as follows:||||||
|||**Incoming**|**Resources**||**Movement**||
|||**resources**|**expended**||**in funds**||
|||**£**||**£**||**£**|
||**Unrestricted funds**||||||
||General fund|117,421|(132,477)||(15,056)||
||**Restricted funds**||||||
||Air-conditioning fund|99||-||99|
||Almary Green fund|34||-||34|
||Robert Hall - Seat safety fund|10||-||10|
|||143||-||143|
||**TOTAL FUNDS**|117,564|(132,477)||(14,913)||
18
## **Wisbech Theatre Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
## **17. Movement in funds - continued**
## **Comparatives for 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||
|Comparative 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)||
19
## **Wisbech Theatre Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
## **17. Movement in funds - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|**Net**
**movement**
**At 1.4.22**
**in funds**
**At**
**£**
**£**
**Unrestricted funds**
General fund
82,542
(41,891)
**Restricted funds**
Air-conditioning fund
8,287
117
Almary Green fund
19
35
Robert Hall - Seat safety fund
4,172
13
12,478
165
**TOTAL FUNDS**
95,020
(41,726)|**31.3.24**
**£**
40,651
8,404
54
4,185
12,643
53,294|
|---|---|
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|224,891|(266,782)|(41,891)|
|**Restricted funds**||||
|Air-conditioning fund|117|-|117|
|Almary Green fund|35|-|35|
|Robert Hall - Seat safety fund|13|-|13|
||165|-|165|
|**TOTAL FUNDS**|225,056|(266,782)|(41,726)|
20
## **Wisbech Theatre Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
## **18. Other financial commitments**
At 31 March 2023 the charity had annual commitments under non-cancellable operating leases as follows:
||**31.3.24**|**31.3.23**|
|---|---|---|
|Expiry date:|**£**|**£**|
|No later than 1 year|6,000|6,000|
|Between 2 - 5 years|24,000|24,000|
|Later than 5 years|123,500|129,500|
## **19. Related party disclosures**
During the year the charity received income from Wisbech School of Performing Arts Ltd, a subsidiary, amounting to £18,592 (2023 : £15,730). At the 31 March 2024 the amount owed by Wisbech School of Performing Arts was £3,661 (2023 : £8,051).
The charity purchased services from Tin Fish Creative Communications Limited, a company owned by Mrs A Nixon, amounting to £426 (2023 : £809). At the 31 March 2024 the amount owed to Tin Fish Creative Communications Limited was £578 (2023 : £152).
## **20. Controlling party**
The charity has no overall controlling party.
21
## **Wisbech Theatre Trust**
## **Detailed Statement of Financial Activities for the Year Ended 31 March 2024**
|**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
Sundries
Insurance
**Support costs**
**Management**
Wages
Rent
Water
Light and heat
Carried forward|**31.3.24**
**£**
25,246
5,000
707
30,953
1,403
211
2,923
18,505
15,577
4,220
42,790
982
84,997
117,564
33,275
54
695
34,024
4,186
6,405
1,129
23,269
34,989|**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
953
10,091
23,524|
|---|---|---|
This page does not form part of the statutory financial statements
22
## **Wisbech Theatre Trust**
## **Detailed Statement of Financial Activities for the Year Ended 31 March 2024**
|**Management**
Brought forward
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**|**31.3.24**
**£**
34,989
4,119
5,537
2,301
779
9,869
6,190
3,761
8,912
200
13,665
-
641
90,963
3,145
450
1,253
2,250
392
4,345
132,477
(14,913)|**31.3.23**
**£**
23,524
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)|
|---|---|---|
This page does not form part of the statutory financial statements
23