REGISTERED CHARITY NUMBER: 1173321
Trustees' Report and
Unaudited Consolidated Financial Statements for the Year Ended 31 March 2025
for
Wisbech Theatre Trust
Stephenson Smart (East Anglia) Limited
9-10 The Crescent Wisbech Cambridgeshire PE13 1EH
Wisbech Theatre Trust
Contents of the Consolidated Financial Statements for the Year Ended 31 March 2025
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Trustees' Report | 2 to 4 |
| Independent Examiner's Report | 5 |
| Consolidated Statement of Financial Activities | 6 |
| Consolidated Statement of Financial Position | 7 |
| Parent Charity Statement of Financial Position | 8 |
| Consolidated Statement of Cash Flows | 9 |
| Notes to the Consolidated Statement of Cash Flows | 10 |
| Notes to the Consolidated Financial Statements | 11 to 23 |
Wisbech Theatre Trust
Reference and Administrative Details for the Year Ended 31 March 2025
Trustees Mr M Peploe Mr R M J Williams, Treasurer Mr A J Cooper (resigned 31.7.2025) Mrs A Nixon, Chairman Mrs L O'Connor, Secretary Mr J P Connolly Mr J Shippey (appointed 1.7.2024) Mr M Beare (appointed 1.7.2025) Mr R Wenn (appointed 1.12.2025) Principal address The Angles Theatre Alexandra Road Wisbech Cambridgeshire PE13 1HQ Registered charity number 1173321 Independent examiner Stephenson Smart (East Anglia) Limited 9-10 The Crescent Wisbech Cambridgeshire PE13 1EH Solicitors Fraser Dawbarns LLP 1-3 York Row Wisbech Cambridgeshire PE13 1EA Website www.anglestheatre.co.uk
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Wisbech Theatre Trust
Trustees' Report for the Year Ended 31 March 2025
The trustees present their report with the group financial statements of the charity and its subsidiary for the year ended 31 March 2025. 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, The Wisbech School of Performing Arts Ltd (WISPA), and annual summer workshops for its youth membership.
Achievements and performance
Review of activities
During the financial year, there was a gradual easing of the cost-of-living crisis, with energy costs reducing from their 2024 peak, resulting in savings of £10,198. This reduction has enabled the charity to expand its performance programme during the colder months of the year.
Amateur ticket sales generated an increase in income of £4,594, alongside a rise in bar sales of £5,708. The annual programme included our highly successful pantomime Snow White and the Seven Dwarfs, our youth musical Matilda Jr., and our adult musical Beauty and the Beast, which won a regional award for Best Musical in 2024.
Overall running costs fell slightly in 2024 by £5,757, reflecting the trustees' ongoing commitment to monitoring expenditure and reducing costs where possible.
This is the first set of accounts to be consolidated with our subsidiary company, The Wisbech School of Performing Arts Ltd (WISPA). WISPA continues to grow and now offers classes for young people across a range of disciplines, including musical theatre, graded dance classes and examinations, as well as holiday workshops. From January 2025, additional classes were introduced, supported by extensive advertising to increase class sizes and participation in workshops and other activities.
The trustees are currently in the process of transferring the freehold property from The Wisbech Angles Theatre Council to The Wisbech Theatre Trust. From an accounting perspective, this transfer has been actioned as of 31 March 2025; however, at the date of these accounts, the properties have not yet been formally transferred.
The consolidated results for the year show total group income of £237,608 (2024: £176,867) and net incoming resources of £52,651 (2024: net resources expended £6,447). This years results include the remainder of the reserves from Wisbech Angles Theatre Council (charity number 278240) which have been transferred to the charity. The net transfer amounted to £37,255.
The trustees continue to monitor all costs and promote new ways of income generation.
The charity’s gross income is below £500,000 and the group financial statements have therefore been subject to independent examination rather than audit, in accordance with the Charities Act 2011.
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Wisbech Theatre Trust
Trustees' Report for the Year Ended 31 March 2025
Financial review
Group financial statements
The group financial statements combine the results of the charity and its wholly owned trading subsidiary as if they were a single organisation. As part of consolidation, transactions between the charity and the subsidiary, such as Gift Aid donations and management charges, are removed. As a result, group income and expenditure will differ from those shown in the parent charity’s own accounts, even though the overall financial position and reserves of the charity group are unchanged.
The group’s reserves at the year end amounted to £105,592, of which £90,670 were unrestricted funds and £14,922 restricted funds. Restricted funds are held solely by the parent charity.
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.
Structure, governance and management
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes a charitable incorporated organisation (company number CE011003).
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
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Wisbech Theatre Trust
Trustees' Report for the Year Ended 31 March 2025
Structure, governance and management
Organisational structure and decision making
The charity is the parent entity of a small charitable group comprising the charity and one wholly owned non-charitable trading subsidiary. The subsidiary is governed by its own board of directors, the majority of whom are also trustees of the parent charity.
The trading subsidiary exists to undertake non-primary purpose trading activities, with profits donated to the charity under Gift Aid.
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
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 30 January 2026 and signed on its behalf by:
Mr R M J Williams, Treasurer - Trustee
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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 on my examination of the group financial statements of Wisbech Theatre Trust ('the charity') and its subsidiary for the year ended 31 March 2025 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 the charity you are responsible for the preparation of the group financial statements in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 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 Act.
An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the financial statements present a 'true and fair' view and my report is limited to those specific matters set out in the independent examiner's statement.
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 charity as required by section 130 of the Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in 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 financial statements to be reached.
Christopher Goad BFP FCA The Institute of Chartered Accountants in England and Wales
Stephenson Smart (East Anglia) Limited 9-10 The Crescent Wisbech Cambridgeshire PE13 1EH
30 January 2026
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Wisbech Theatre Trust
Consolidated Statement of Financial Activities for the Year Ended 31 March 2025
| Unrestricted Restricted funds funds Notes £ £ Income and endowments from Donations and legacies 2 109,323 7,147 Charitable activities Professional performances 1,353 - Refreshment sales 24,213 - Other premises hire 15,155 - Equipment hire 3,595 - Amateur performances 65,908 - Other 9,549 - Other trading activities 3 1,033 - Investment income 4 233 99 Total 230,362 7,246 Expenditure on Charitable activities 5 Fundraising 337 - Support costs 119,059 - Professional performances 1,315 - General theatre expenses 4,788 - Refreshment sales 12,491 - Equipment hire 660 - Amateur performances 42,165 - Governance costs 3,414 - Bursary - 728 Total 184,229 728 NET INCOME/(EXPENDITURE) 46,133 6,518 Transfers between funds 18 4,239 (4,239) Net movement in funds 50,372 2,279 Reconciliation of funds Total funds brought forward As previously reported 36,554 12,643 Prior year adjustment 11 3,744 - As restated 40,298 12,643 Total funds carried forward 90,670 14,922 |
31.3.25 Total funds as £ 116,470 1,353 24,213 15,155 3,595 65,908 9,549 1,033 332 237,608 337 119,059 1,315 4,788 12,491 660 42,165 3,414 728 184,957 52,651 - 52,651 49,197 3,744 52,941 105,592 |
31.3.24 Total funds restated £ 69,100 2,923 18,505 15,577 4,220 61,314 3,557 1,403 268 176,867 - 122,884 1,585 1,889 11,120 240 40,861 4,735 - 183,314 (6,447) - (6,447) 59,388 - 59,388 52,941 |
|---|---|---|
The notes form part of these financial statements
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Wisbech Theatre Trust
Consolidated Statement of Financial Position 31 March 2025
| Unrestricted Restricted funds funds Notes £ £ Fixed assets Tangible assets 12 144,578 - Current assets Stocks 13 18,766 - Debtors 14 15,661 - Cash at bank and in hand 25,164 14,922 59,591 14,922 Creditors Amounts falling due within one year 15 (100,278) - Net current assets (40,687) 14,922 Total assets less current liabilities 103,891 14,922 Creditors Amounts falling due after more than one year 16 (13,221) - NET ASSETS 90,670 14,922 Funds 18 Unrestricted funds Restricted funds Total funds |
Unrestricted Restricted funds funds Notes £ £ Fixed assets Tangible assets 12 144,578 - Current assets Stocks 13 18,766 - Debtors 14 15,661 - Cash at bank and in hand 25,164 14,922 59,591 14,922 Creditors Amounts falling due within one year 15 (100,278) - Net current assets (40,687) 14,922 Total assets less current liabilities 103,891 14,922 Creditors Amounts falling due after more than one year 16 (13,221) - NET ASSETS 90,670 14,922 Funds 18 Unrestricted funds Restricted funds Total funds |
Unrestricted Restricted funds funds Notes £ £ Fixed assets Tangible assets 12 144,578 - Current assets Stocks 13 18,766 - Debtors 14 15,661 - Cash at bank and in hand 25,164 14,922 59,591 14,922 Creditors Amounts falling due within one year 15 (100,278) - Net current assets (40,687) 14,922 Total assets less current liabilities 103,891 14,922 Creditors Amounts falling due after more than one year 16 (13,221) - NET ASSETS 90,670 14,922 Funds 18 Unrestricted funds Restricted funds Total funds |
31.3.25 Total funds as £ 144,578 18,766 15,661 40,086 74,513 (100,278) |
31.3.24 Total funds restated £ 61,662 18,015 11,215 30,018 59,248 (52,012) 7,236 68,898 (15,957) 52,941 40,298 12,643 52,941 |
|---|---|---|---|---|
| (40,687) 103,891 (13,221) 90,670 |
14,922 14,922 - 14,922 |
(25,765) 118,813 (13,221) 105,592 90,670 14,922 105,592 |
The financial statements were approved by the Board of Trustees and authorised for issue on 30 January 2026 and were signed on its behalf by:
Mr R M J Williams, Treasurer - Trustee
Mrs A Nixon, Chairman - Trustee
The notes form part of these financial statements
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Wisbech Theatre Trust
Parent Charity Statement of Financial Position 31 March 2025
| Unrestricted Restricted funds funds Notes £ £ Fixed assets Tangible assets 12 144,578 - Investments 1 - 144,579 - Current assets Stocks 13 18,766 - Debtors 14 15,105 - Cash at bank and in hand 24,525 14,922 58,396 14,922 Creditors Amounts falling due within one year 15 (98,989) - Net current assets (40,593) 14,922 Total assets less current liabilities 103,986 14,922 Creditors Amounts falling due after more than one year 16 (13,221) - NET ASSETS 90,765 14,922 Funds 18 Unrestricted funds Restricted funds Total funds |
31.3.25 Total funds as £ 144,578 1 144,579 18,766 15,105 39,447 73,318 (98,989) (25,671) 118,908 (13,221) 105,687 90,765 14,922 105,687 |
31.3.24 Total funds restated £ 61,662 1 61,663 18,015 14,225 26,356 58,596 (47,264) 11,332 72,995 (15,957) 57,038 44,395 12,643 57,038 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 30 January 2026 and were signed on its behalf by:
Mr R M J Williams, Treasurer - Trustee
Mrs A Nixon, Chairman - Trustee
The notes form part of these financial statements
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Wisbech Theatre Trust
Consolidated Statement of Cash Flows for the Year Ended 31 March 2025
| Notes Cash flows from operating activities Cash generated from operations 1 Interest paid Net cash provided by operating activities Cash flows from investing activities Transfer to ownership assets 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 provided by/(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 2 Cash and cash equivalents at the end of the reporting period 2 |
31.3.25 31.3.24 as restated £ £ 63,611 18,909 (435) (641) 63,176 18,268 (90,500) - (7,138) (8,166) 332 268 (97,306) (7,898) 50,000 - (2,736) (2,598) 47,264 (2,598) 13,134 7,772 26,952 19,180 40,086 26,952 |
|---|---|
The notes form part of these financial statements
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Wisbech Theatre Trust
Notes to the Consolidated Statement of Cash Flows for the Year Ended 31 March 2025
1. Reconciliation of net income/(expenditure) to net cash flow from operating activities
| 31.3.25 | 31.3.24 | |||
|---|---|---|---|---|
| as restated | ||||
| £ | £ | |||
| Net income/(expenditure) for the reporting period (as per the | ||||
| Statement of Financial Activities) | 52,651 | (6,447) | ||
| Adjustments for: | ||||
| Depreciation charges | 14,722 | 15,634 | ||
| Interest received | (332) | (268) | ||
| Interest paid | 435 | 641 | ||
| Increase in stocks | (751) | (943) | ||
| Increase in debtors | (4,446) | (1,394) | ||
| Increase in creditors | 1,332 | 11,686 | ||
| Net cash provided by operations | 63,611 | 18,909 | ||
| 2. | Analysis of cash and cash equivalents | |||
| 31.3.25 | 31.3.24 | |||
| as restated | ||||
| £ | £ | |||
| Cash in hand | 764 | 642 | ||
| Notice deposits (less than 3 months) | 39,322 | 29,376 | ||
| Overdrafts included in bank loans and overdrafts falling due within one year | - | (3,066) | ||
| Total cash and cash equivalents | 40,086 | 26,952 | ||
| 3. | Analysis of changes in net funds/(debt) | |||
| At 1.4.24 | Cash flow | At 31.3.25 | ||
| £ | £ | £ | ||
| Net cash | ||||
| Cash at bank and in hand | 30,018 | 10,068 | 40,086 | |
| Bank overdraft | (3,066) | 3,066 | - | |
| 26,952 | 13,134 | 40,086 | ||
| Debt | ||||
| Debts falling due within 1 year | (3,735) | (50,000) | (53,735) | |
| Debts falling due after 1 year | (15,957) | 2,736 | (13,221) | |
| (19,692) | (47,264) | (66,956) | ||
| Total | 7,260 | (34,130) | (26,870) |
The notes form part of these financial statements
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Wisbech Theatre Trust
Notes to the Consolidated Financial Statements for the Year Ended 31 March 2025
1. Accounting policies
Basis of preparing the financial statements
The group 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.
The trustees consider the group to be a going concern.
Basis of consolidation
The consolidated financial statements incorporate the financial statements of the parent charity and its subsidiary for the year ended 31 March 2025. Subsidiaries are consolidated on a line-by-line basis from the date control commenced until the date control ceased. All intra-group transactions, balances, income and expenditure have been eliminated on consolidation.
No separate Statement of Financial Activities has been presented for the parent charity.
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.
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.
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.
Grants offered subject to conditions which have not been met at the year-end date are noted as a commitment but not accrued as expenditure.
10
Wisbech Theatre Trust
Notes to the Consolidated Financial Statements - continued for the Year Ended 31 March 2025
1. Accounting policies - continued
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.
Taxation
The charity is exempt from corporation tax on its charitable activities. The trading subsidiary is subject to corporation tax on its taxable profits. Taxation is recognised on an accruals basis using tax rates enacted or substantively enacted at the balance sheet date.
Gift Aid payments made by the subsidiary to the parent charity are treated as distributions of profits by the subsidiary and are recognised as voluntary income of the charity in the period in which the payment is approved.
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.
Restricted funds are held only by the parent charity. The trading subsidiary operates exclusively with unrestricted funds. On consolidation, restricted and unrestricted funds are presented in accordance with the Charities SORP.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Structure of group
The charity owns 100% of the issued share capital of The Wisbech School of Performing Arts Ltd (company number 07241564), a company registered in England and Wales. The subsidiary carries out non-primary purpose trading activities to raise funds for donation to the parent charity.
The charity exercises control over the subsidiary through its power to appoint and remove the majority of the board of directors. The subsidiary has been consolidated on a line-by-line basis.
Any profits available for distribution are donated to the charity under Gift Aid.
The results and net assets of the subsidiary are included in the group accounts.
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Wisbech Theatre Trust
Notes to the Consolidated Financial Statements - continued for the Year Ended 31 March 2025
2. Donations and legacies
| 31.3.25 as £ Donations 62,916 Grants receivable 5,618 Subscriptions 47,936 116,470 Grants received, included in the above, are as follows: 31.3.25 as £ Other grants 5,618 3. Other trading activities 31.3.25 as £ Fundraising events 1,033 4. Investment income 31.3.25 as £ Deposit account interest 332 5. Charitable activities costs Grant Support Direct funding of costs (see Costs activities note 6) £ £ £ Fundraising 337 - - Support costs 611 - 118,448 Professional performances 1,315 - - General theatre expenses 4,788 - - Refreshment sales 12,491 - - Equipment hire 660 - - Amateur performances 42,165 - - Governance costs - - 3,414 Bursary - 728 - 62,367 728 121,862 |
31.3.24 restated £ 25,246 5,000 38,854 |
|---|---|
| 69,100 | |
| 31.3.24 restated £ 5,000 31.3.24 restated £ 1,403 31.3.24 restated £ 268 Totals £ 337 119,059 1,315 4,788 12,491 660 42,165 3,414 728 184,957 |
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Wisbech Theatre Trust
Notes to the Consolidated Financial Statements - continued for the Year Ended 31 March 2025
6. Support costs
| Governance Management Finance costs £ £ £ Support costs 113,864 4,584 - Governance costs - - 3,414 113,864 4,584 3,414 Support costs, included in the above, are as follows: 31.3.25 as Support Governance Total costs costs activities £ £ £ Wages 31,417 - 31,417 Pensions 147 - 147 Rent 6,540 - 6,540 Water 1,167 - 1,167 Light and heat 13,071 - 13,071 Repairs and renewals 4,715 - 4,715 Insurance 6,456 - 6,456 Advertising 1,590 - 1,590 Health and safety 201 - 201 Office and box office costs 11,917 - 11,917 Cleaning 11,628 - 11,628 Sundries 3,271 - 3,271 Unrecovered VAT 6,227 - 6,227 Motor and travel costs 360 - 360 Depreciation of tangible and heritage assets 14,722 - 14,722 Interest payable and similar charges 435 - 435 Bank charges 4,584 - 4,584 Accountancy fees - 364 364 Legal and other professional - 350 350 Independent exam fees - 2,700 2,700 Trustee insurance - - - 118,448 3,414 121,862 |
Governance Management Finance costs £ £ £ Support costs 113,864 4,584 - Governance costs - - 3,414 113,864 4,584 3,414 Support costs, included in the above, are as follows: 31.3.25 as Support Governance Total costs costs activities £ £ £ Wages 31,417 - 31,417 Pensions 147 - 147 Rent 6,540 - 6,540 Water 1,167 - 1,167 Light and heat 13,071 - 13,071 Repairs and renewals 4,715 - 4,715 Insurance 6,456 - 6,456 Advertising 1,590 - 1,590 Health and safety 201 - 201 Office and box office costs 11,917 - 11,917 Cleaning 11,628 - 11,628 Sundries 3,271 - 3,271 Unrecovered VAT 6,227 - 6,227 Motor and travel costs 360 - 360 Depreciation of tangible and heritage assets 14,722 - 14,722 Interest payable and similar charges 435 - 435 Bank charges 4,584 - 4,584 Accountancy fees - 364 364 Legal and other professional - 350 350 Independent exam fees - 2,700 2,700 Trustee insurance - - - 118,448 3,414 121,862 |
Governance Management Finance costs £ £ £ Support costs 113,864 4,584 - Governance costs - - 3,414 113,864 4,584 3,414 Support costs, included in the above, are as follows: 31.3.25 as Support Governance Total costs costs activities £ £ £ Wages 31,417 - 31,417 Pensions 147 - 147 Rent 6,540 - 6,540 Water 1,167 - 1,167 Light and heat 13,071 - 13,071 Repairs and renewals 4,715 - 4,715 Insurance 6,456 - 6,456 Advertising 1,590 - 1,590 Health and safety 201 - 201 Office and box office costs 11,917 - 11,917 Cleaning 11,628 - 11,628 Sundries 3,271 - 3,271 Unrecovered VAT 6,227 - 6,227 Motor and travel costs 360 - 360 Depreciation of tangible and heritage assets 14,722 - 14,722 Interest payable and similar charges 435 - 435 Bank charges 4,584 - 4,584 Accountancy fees - 364 364 Legal and other professional - 350 350 Independent exam fees - 2,700 2,700 Trustee insurance - - - 118,448 3,414 121,862 |
Governance Management Finance costs £ £ £ Support costs 113,864 4,584 - Governance costs - - 3,414 113,864 4,584 3,414 Support costs, included in the above, are as follows: 31.3.25 as Support Governance Total costs costs activities £ £ £ Wages 31,417 - 31,417 Pensions 147 - 147 Rent 6,540 - 6,540 Water 1,167 - 1,167 Light and heat 13,071 - 13,071 Repairs and renewals 4,715 - 4,715 Insurance 6,456 - 6,456 Advertising 1,590 - 1,590 Health and safety 201 - 201 Office and box office costs 11,917 - 11,917 Cleaning 11,628 - 11,628 Sundries 3,271 - 3,271 Unrecovered VAT 6,227 - 6,227 Motor and travel costs 360 - 360 Depreciation of tangible and heritage assets 14,722 - 14,722 Interest payable and similar charges 435 - 435 Bank charges 4,584 - 4,584 Accountancy fees - 364 364 Legal and other professional - 350 350 Independent exam fees - 2,700 2,700 Trustee insurance - - - 118,448 3,414 121,862 |
Totals £ 118,448 3,414 |
|---|---|---|---|---|
| 121,862 | ||||
| 31.3.24 restated Total activities £ 32,033 144 6,405 1,129 23,269 4,119 6,356 2,301 779 11,218 6,190 4,577 3,198 600 15,634 641 4,291 840 1,253 2,250 392 |
||||
| 118,448 | 3,414 | 121,862 | 127,619 |
Support costs, included in the above, are as follows:
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Wisbech Theatre Trust
Notes to the Consolidated Financial Statements - continued for the Year Ended 31 March 2025
7. Trustees' remuneration and benefits
There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.
8. Staff costs
| Wages and salaries Other pension costs |
31.3.25 31.3.24 as restated £ £ 31,417 32,033 147 144 31,564 32,177 |
31.3.25 31.3.24 as restated £ £ 31,417 32,033 147 144 31,564 32,177 |
|---|---|---|
| 32,177 |
The average monthly number of employees during the year was as follows:
| 31.3.25 | 31.3.24 | |
|---|---|---|
| as restated | ||
| Support | 8 | 11 |
No employees received emoluments in excess of £60,000.
9. Results of the parent charity
The parent charity's net incoming resources for the financial year were £48,649 (2024: net resources expended £11,169)
10. Comparatives for the statement of financial activities
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| funds | funds | funds | |
| as restated | |||
| £ | £ | £ | |
| Income and endowments from | |||
| Donations and legacies | 69,100 | - | 69,100 |
| Charitable activities | |||
| Professional performances | 2,923 | - | 2,923 |
| Refreshment sales | 18,505 | - | 18,505 |
| Other premises hire | 15,577 | - | 15,577 |
| Equipment hire | 4,220 | - | 4,220 |
| Amateur performances | 61,314 | - | 61,314 |
| Other | 3,557 | - | 3,557 |
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Wisbech Theatre Trust
Notes to the Consolidated Financial Statements - continued for the Year Ended 31 March 2025
10. Comparatives for the statement of financial activities - continued
| Unrestricted Restricted funds funds as £ £ Other trading activities 1,403 - Investment income 125 143 Total 176,724 143 Expenditure on Charitable activities Support costs 122,884 - Professional performances 1,585 - General theatre expenses 1,889 - Refreshment sales 11,120 - Equipment hire 240 - Amateur performances 40,861 - Governance costs 4,735 - Total 183,314 - NET INCOME/(EXPENDITURE) (6,590) 143 Reconciliation of funds Total funds brought forward 46,888 12,500 Total funds carried forward 40,298 12,643 |
Total funds restated £ 1,403 268 176,867 122,884 1,585 1,889 11,120 240 40,861 4,735 183,314 (6,447) 59,388 52,941 |
|---|---|
11. Prior year adjustment
During the year, the trustees identified an error in the prior year financial statements relating to irrecoverable VAT on fixed asset purchases and costume stock.
As a result, the opening funds at 1 April 2024 have been restated. The effect of the adjustment was to increase opening unrestricted funds and total funds by £3,744.
Comparative figures for the year ended 31 March 2025 have been restated accordingly. There is no impact on the net cash flows reported for that year.
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Wisbech Theatre Trust
Notes to the Consolidated Financial Statements - continued for the Year Ended 31 March 2025
| 12. Tangible fixed assets Consolidated Cost At 1 April 2024 Additions Transfer to ownership At 31 March 2025 Depreciation At 1 April 2024 Charge for year At 31 March 2025 Net book value At 31 March 2025 At 31 March 2024 Parent charity Cost At 1 April 2024 Additions Transfer to ownership At 31 March 2025 Depreciation At 1 April 2024 Charge for year At 31 March 2025 Net book value At 31 March 2025 At 31 March 2024 |
Freehold property £ - - 90,500 90,500 - 2,000 2,000 88,500 - Freehold property £ - - 90,500 ---- 90,500 ==== - 2,000 ---- 2,000 ==== 88,500 ==== - ==== |
Fixtures and fittings £ 120,611 7,138 - 127,749 58,949 12,722 71,671 56,078 61,662 Fixtures and fittings £ 120,611 7,138 - ---- 127,749 ==== 58,949 12,722 ---- 71,671 ==== 56,078 ==== 61,662 ==== |
Totals £ 120,611 7,138 90,500 218,249 58,949 14,722 73,671 144,578 61,662 Totals £ 120,611 7,138 90,500 ---- 218,249 ==== 58,949 14,722 ---- 73,671 ==== 144,578 ==== 61,662 ==== |
|---|---|---|---|
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Wisbech Theatre Trust
Notes to the Consolidated Financial Statements - continued for the Year Ended 31 March 2025
| 13. Stocks Consolidated Stocks Parent charity Stocks 14. Debtors: amounts falling due within one year Consolidated Trade debtors Other debtors Prepayments and accrued income Parent charity Trade debtors Amounts owed to group undertakings Prepayments and accrued income |
31.3.25 31.3.24 as restated £ £ 18,766 18,015 31.3.25 31.3.24 as restated £ £ 18,766 18,015 ==== ==== 31.3.25 31.3.24 as restated £ £ 876 294 1,210 35 13,575 10,886 15,661 11,215 31.3.25 31.3.24 as restated £ £ 876 294 1,204 3,661 13,025 10,270 ---- ---- 15,105 14,225 ==== ==== |
|---|---|
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Wisbech Theatre Trust
Notes to the Consolidated Financial Statements - continued for the Year Ended 31 March 2025
| 15. Creditors: amounts falling due within one year Consolidated Bank loans and overdrafts (see note 17) Trade creditors Taxation and social security Other creditors Parent charity Bank loans and overdrafts (see note 17) Trade creditors Taxation and social security Other creditors 16. Creditors: amounts falling due after more than one year Consolidated Bank loans (see note 17) Parent charity Bank loans (see note 17) 17. Loans Consolidated An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank overdrafts Bank loans Other loans |
31.3.25 as £ 2,735 17,645 2,004 77,894 100,278 31.3.25 as £ 2,735 16,801 2,004 77,449 ---- 98,989 ==== 31.3.25 as £ 13,221 31.3.25 as £ 13,221 ==== 31.3.25 as £ - 2,735 51,000 53,735 |
31.3.24 restated £ 5,801 22,944 623 22,644 52,012 31.3.24 restated £ 2,735 22,562 161 21,806 ---- 47,264 ==== 31.3.24 restated £ 15,957 31.3.24 restated £ 15,957 ==== 31.3.24 restated £ 3,066 2,735 1,000 6,801 |
31.3.24 restated £ 5,801 22,944 623 22,644 52,012 31.3.24 restated £ 2,735 22,562 161 21,806 ---- 47,264 ==== 31.3.24 restated £ 15,957 31.3.24 restated £ 15,957 ==== 31.3.24 restated £ 3,066 2,735 1,000 6,801 |
|---|---|---|---|
| 6,801 |
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Wisbech Theatre Trust
Notes to the Consolidated Financial Statements - continued for the Year Ended 31 March 2025
| 17. | Loans - continued | |||||
|---|---|---|---|---|---|---|
| 31.3.25 | 31.3.24 | |||||
| as restated | ||||||
| £ | £ | |||||
| Amounts falling between one | and two years: | |||||
| Bank loans | 13,221 | 15,957 | ||||
| 18. | Movement in funds | |||||
| Consolidated | Net | Transfers | ||||
| Prior year | movement | between | ||||
| At 1.4.24 | adjustment | in funds | funds | At 31.3.25 | ||
| £ | £ | £ | £ | £ | ||
| Unrestricted funds | ||||||
| General fund | 40,651 | 3,744 | 876 | 41,494 | 86,765 | |
| WATC Reserves | - | - | 37,255 | (37,255) | - | |
| Wisbech School of | ||||||
| Performing Arts Ltd | (4,097) | - | 8,002 | - | 3,905 | |
| 36,554 | 3,744 | 46,133 | 4,239 | 90,670 | ||
| Restricted funds | ||||||
| Air-conditioning fund | 8,404 | - | 93 | - | 8,497 | |
| Almary Green fund | 54 | - | - | (54) | - | |
| Robert Hall - Seat safety | ||||||
| fund | 4,185 | - | - | (4,185) | - | |
| WSPA Bursary fund | - | - | 2,705 | - | 2,705 | |
| Accessibility project | - | - | 3,720 | - | 3,720 | |
| 12,643 | - | 6,518 | (4,239) | 14,922 | ||
| TOTAL FUNDS | 49,197 | 3,744 | 52,651 | - | 105,592 |
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Wisbech Theatre Trust
Notes to the Consolidated Financial Statements - continued for the Year Ended 31 March 2025
18. Movement in funds - continued
Net movement in funds, included in the above are as follows:
| Consolidated | Incoming | Resources | Movement |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 129,369 | (128,493) | 876 |
| WATC Reserves | 37,255 | - | 37,255 |
| Wisbech School of Performing Arts Ltd | 63,738 | (55,736) | 8,002 |
| 230,362 | (184,229) | 46,133 | |
| Restricted funds | |||
| Air-conditioning fund | 93 | - | 93 |
| WSPA Bursary fund | 3,433 | (728) | 2,705 |
| Accessibility project | 3,720 | - | 3,720 |
| 7,246 | (728) | 6,518 | |
| TOTAL FUNDS | 237,608 | (184,957) | 52,651 |
| Comparatives for movement in funds | |||
| Consolidated | Net | ||
| movement | |||
| At 1.4.23 | in funds | At 31.3.24 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 55,707 | (11,312) | 44,395 |
| Wisbech School of Performing Arts Ltd | (8,819) | 4,722 | (4,097) |
| 46,888 | (6,590) | 40,298 | |
| 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 | 59,388 | (6,447) | 52,941 |
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Wisbech Theatre Trust
Notes to the Consolidated Financial Statements - continued for the Year Ended 31 March 2025
18. Movement in funds - continued
Comparative net movement in funds, included in the above are as follows:
| Consolidated | Incoming | Resources | Movement | ||
|---|---|---|---|---|---|
| resources | expended | in funds | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 117,420 | (128,732) | (11,312) | ||
| Wisbech School of Performing | Arts Ltd | 59,304 | (54,582) | 4,722 | |
| 176,724 | (183,314) | (6,590) | |||
| Restricted funds | |||||
| Air-conditioning fund | 99 | - | 99 | ||
| Almary Green fund | 34 | - | 34 | ||
| Robert Hall - Seat safety fund | 10 | - | 10 | ||
| 143 | - | 143 | |||
| TOTAL FUNDS | 176,867 | (183,314) | (6,447) | ||
| Parent charity | Net | Transfers | |||
| Prior year | movement | between | |||
| At 1.4.24 | adjustment | in funds | funds | At 31.3.25 | |
| £ | £ | £ | £ | £ | |
| Unrestricted funds | |||||
| General fund | 40,651 | 3,744 | 876 | 41,494 | 86,765 |
| WATC reserves | - | - | 37,255 | (37,255) | - |
| ---- | ---- | ---- | ---- | ---- | |
| 40,651 | 3,744 | 38,131 | 4,239 | 86,765 | |
| Restricted funds | |||||
| Air-conditioning fund | 8,404 | - | 93 | - | 8,497 |
| Almary Green fund | 54 | - | - | (54) | - |
| Robert Hall - Seat safety | |||||
| fund | 4,185 | - | - | (4,185) | - |
| WSPA Bursary fund | - | - | 2,705 | - | 2,705 |
| Accessibility project | - | - | 3,720 | - | 3,720 |
| ---- | ---- | ---- | ---- | ---- | |
| 12,643 | - | 6,518 | (4,239) | 14,922 | |
| ---- | ---- | ---- | ---- | ---- | |
| TOTAL FUNDS | 53,294 | 3,744 | 44,649 | - | 101,687 |
| ==== | ==== | ==== | ==== | ==== |
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Wisbech Theatre Trust
Notes to the Consolidated Financial Statements - continued for the Year Ended 31 March 2025
18. Movement in funds - continued
Net movement in funds, included in the above are as follows:
| Parent charity | Incoming | Resources | Movement |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General funds | 129,369 | (128,493) | 876 |
| WATC Reserves | 37,255 | - | 37,255 |
| ---- | ---- | ---- | |
| 166,624 | (128,493) | 38,131 | |
| Restricted funds | |||
| Air-conditioning fund | 93 | - | 93 |
| WSPA Bursary fund | 3,433 | (728) | 2,705 |
| Accessibility fund | 3,720 | - | 3,720 |
| ---- | ---- | ---- | |
| 7,246 | (728) | 6,518 | |
| ---- | ---- | ---- | |
| TOTAL FUNDS | 173,870 | (129,221) | 44,649 |
| ==== | ==== | ==== |
Transfers between funds
The remainder of the reserves from Wisbech Angles Theatre Council (charity number 278240) have been transferred to the Wisbech Theatre Trust. The net transfer amounted to £37,255.
19. Other financial commitments
At 31 March 2025 the charity had annual commitments under non-cancellable operating leases as follows:
| 31.3.25 | 31.3.24 | |
|---|---|---|
| Expiry date: | £ | £ |
| No later than 1 year | 6,000 | 6,000 |
| Between 2 - 5 years | 24,000 | 24,000 |
| Later than 5 years | 117,500 | 123,500 |
20. Related party disclosures
The charity and its wholly owned trading subsidiary, The Wisbech School of Performing Arts Ltd, are related parties.
During the year The Wisbech School of Performing Arts Ltd donated £19,472 (2024: £18,592) to the charity under Gift Aid. This donation has been eliminated on consolidation.
No trustee or connected person received any remuneration, benefit or expense reimbursement from the charity or subsidiary during the year.
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Wisbech Theatre Trust
Notes to the Consolidated Financial Statements - continued for the Year Ended 31 March 2025
21. Ultimate controlling party
The charity is controlled by its trustees, who are responsible for the general control and management of the charity and who act in the furtherance of its charitable objectives.
No individual trustee has control over the charity.
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