Charity Registration No. 1178159
CHESTER LITTLE THEATRE
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
CHESTER LITTLE THEATRE
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Susan Elliott |
|---|---|
| Raymond Bengree | |
| Margaret Bennett | |
| Teresa Nunez | |
| Peter Russell | |
| Christopher Evans | |
| John McGinn | |
| Malcolm Gledhill | |
| John Turner | |
| Alison Knott | |
| Marian Lovell | |
| Ann Massey | |
| Jane Barth | |
| Keith Long | |
| Alastair Goodman | |
| Patricia Cameron | |
| Charity number | 1178159 |
| Principal address | The Little Theatre |
| Gloucester Street | |
| Chester | |
| Cheshire | |
| CH1 3HR | |
| Independent examiner | McLintocks (NW) Limited |
| 2 Hilliards Court | |
| Chester Business Park | |
| Chester | |
| Cheshire | |
| CH4 9PX |
CHESTER LITTLE THEATRE
CONTENTS
| Page | |
|---|---|
| Trustees report | 1 - 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 14 |
CHESTER LITTLE THEATRE
TRUSTEES REPORT FOR THE YEAR ENDED 31 JULY 2021
The trustees present their annual report and financial statements for the year ended 31 July 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "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
The Charity's objects are to develop public appreciation of the Arts of Drama and to promote the advancement and improvement of general education in relation to all aspects of such Arts.
Significant activities:
-
Our main activity is the presentation of six full length auditorium plays over the season to run for 7 nights each. Plus, three 3-night productions in the Salisbury Studio
-
Social evenings for Members/Supporters include, play and poetry readings, quiz nights, showcases, etc.
-
We hire out space to other cultural groups.
Volunteers
The Charity is run entirely by volunteers who are needed for each production not only for the acting, directing and back-stage activities but also to provide Front of House Management, serving refreshments, running the bar, and ensuring that we comply with our health and safety
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
C ovid P andemic
-
During the Covid pandemic monthly meeting of Trustees became challenging. As there was little business within the building it was agreed that regular electronic updates would be issued by the Chair as required. During this period the Chair issued several CLT updates to members and supporters also.
-
Trustees also agreed that subscriptions for members and supporters be extended to the end of the 2020-2021 season .
-
It was also agreed that season ticket holders would be refunded the remaining part of their subscription as CLT closed half-way through the 2019-2020 season.
-
With Charity commission approval CLT did not hold an AGM for the conclusion of the 2019-2020 season .
-
1 -
CHESTER LITTLE THEATRE
TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021
Achievement and Performance
Due to Covid restrictions introduced in March 2020, Chester Little Theatre (CLT) did not have a season from 23 rd March 2020 until October 2021. Under Government regulations CLT, as an amateur theatre, was classed as a ‘household’ which meant that we could not provide public performances during that period.
When regulations slightly relaxed on occasion for households during this period, we did provide two YouTube productions of casts of two people each, filmed by one person.
Youth Theatre: As our youth leaders had announced their retirement at the end of the 2019-2020 season, finding replacement volunteer leaders became difficult and along with the Covid pandemic, the Youth Theatre section closed.
Hiring/visiting groups: Though a number of hires were scheduled for the first half of 2020, due to the Covid pandemic these were cancelled.
Development: As CLT became classed as a ‘household’ during the pandemic development of the building was only undertaken as each level of restrictions were removed. During the summer of 2020 our team upgraded the men’s toilets. In May 2021 (due to the age of the building) part of the ceiling over the main stairwell collapsed. The Trustees agreed (electronically) that the whole of the ceiling should come down and be replaced. This work was undertaken by our team.
Financial review
The report and accounts for 2019-2020 season have been submitted to the Charity Commission and can been found on their web site .
The Treasurer has carried out a review of our finances and it would seem that we should be able to pay our maintenance bills this season (2021/2022) from our ‘reserves’ – though there will be regular reviews of the finances to ensure that we are staying solvent. However of course, the sooner we open and begin generating income again the better.
Although CLT decided to extend the 2019/2020 subscriptions until the summer of 2021, quite a number of supporters and some members, have sent in their subscriptions as donations to CLT to help us through these strange times. Many Thanks to them.
The trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. There is a child protection policy in place and DBS checks are carried out on leaders as appropriate. The trustees have drawn up and agreed health and safety procedures which have been approved by the local fire service. They are aware of and comply with local licensing requirements, and attend courses when relevant, e.g., on fundraising, improving publicity for the charity, etc. Trustees and Members give their time voluntarily and receive no remuneration or other benefits.
Plans for the future
The trustees have agreed that, subject to any further government restrictions, we will reopen for a new season in September 2021. They acknowledge that audience retention will be vital to the continuing success of the Chester Little Theatre and so the Directors' committee will be meeting to put together a suitable programme of plays which we hope will appeal to patrons old and new.
Having considered the charity's financial position, the trustees have also agreed that any minor building improvement projects which are underway will be completed before reopening but the plan for the extension will be halted until such time as the trustees can be assured that the charity is able commit to any major item of capital expenditure.
- 2 -
CHESTER LITTLE THEATRE
TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021
Structure, governance and management
The charity is controlled by its governing document, a deed of trust, and constitutes a charitable incorporated organisation (CIO) registered from 30 April 2018, being operational from 01 August 2018 with assets transferred from the previous charity Chester Theatre Club.
The trustees who served during the year and up to the date of signature of the financial statements were: Susan Elliott
Raymond Bengree Margaret Bennett Teresa Nunez Peter Russell Christopher Evans John McGinn Malcolm Gledhill John Turner Alison Knott Marian Lovell Ann Massey Jane Barth Keith Long Alastair Goodman Patricia Cameron
Recruitment and appointment of new trustees
Members of the charity pay an annual subscription and elect the Committee of Trustees at the AGM.
Following the 2016 AGM the membership approved that though all Trustees should be re-elected annually, the positions of Chair, Vice Chair and ordinary members may hold the same post for four consecutive years, rising to a maximum of five years if no suitable replacement is available. The Treasurer, subject to annual re election, may continue in office at the discretion of the Committee. All other officers, subject to annual reelection, may continue in office for ten consecutive years but shall then not be eligible to seek re-election to the same position until twelve months have elapsed.
At July 2020 Chester Little Theatre had 72 Members and 227 Supporters.
- 3 -
CHESTER LITTLE THEATRE
TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021
Committee
The existing General Committee (Trustees) have agreed to remain in their various positions until such time as we can hold an AGM.
The current General Committee is made up of:
Chair: Margaret Bennett Vice Chair: Alison Knott Secretary: Sue Elliott Treasurer: Marian Lovell House Manager: Malcolm Gledhill Box Office: vacant Chair of Directors: Jane Barth Bar Manager: Ray Bengree Stage Director: Keith Long Technical Director: Chris Evans Publicity Officer: Ally Goodman Wardrobe Supervisor: Peter Russell Membership Secretary: Margaret Bennett
General Committee Members: Pat Cameron, John McGinn, Ann Massey, Charlie Nunez
During challenging time our Trustees continued to work hard on behalf of the Charity. There were regular communications either electronically or be telephone between this group during the period of closure with great enthusiasm from all members to keep going using some alternative routes such as our YouTube venture.
The trustees r eport was approved by the Trustees.
Marian Lovell Trustee Dated: 12 April 2022
- 4 -
CHESTER LITTLE THEATRE
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHESTER LITTLE THEATRE
I report to the trustees on my examination of the financial statements of Chester Little Theatre (the charity) for the year ended 31 July 2021.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act . 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 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 charity as required by section 130 of the 2011 Act; or
-
2 the financial statements do not accord with those records; or
-
3 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.
Caroline Blake FCCA McLintocks (NW) Limited 2 Hilliards Court Chester Business Park Chester Cheshire CH4 9PX
Dated: 12 April 2022
- 5 -
CHESTER LITTLE THEATRE
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2021
| Unrestricted Unrestricted | Unrestricted Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2021 | 2020 | ||
| Notes | £ |
£ | |
| Income and endowments from: | |||
| Donations and legacies | 3 | 1,311 | 3,230 |
| Charitable activities | 4 | 39 | 26,201 |
| Other trading activities | 5 | 30 | 7,506 |
| Investments | 6 | 29 | 127 |
| Other income | 7 | 360 | - |
| Total income | 1,769 | 37,064 | |
| Expenditure on: | |||
| Raising funds | 8 | 368 | 3,637 |
| Charitable activities | 9 | 71,638 | 94,232 |
| Total resources expended | 72,006 | 97,869 | |
| Net expenditure for the year/ | |||
| Net movement in funds | (70,237) | (60,805) | |
| Fund balances at 1 August 2020 | 1,113,345 | 1,174,150 | |
| Fund balances at 31 July 2021 | 1,043,108 | 1,113,345 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
- 6 -
CHESTER LITTLE THEATRE
BALANCE SHEET
AS AT 31 JULY 2021
| Notes Fixed assets Tangible assets 12 Current assets Stocks 13 Debtors 14 Cash at bank and in hand Creditors: amounts falling due within one year 15 Net current assets Total assets less current liabilities Income funds Unrestricted funds |
2021 £ £ 827,388 426 3,085 213,299 216,810 (1,090) 215,720 1,043,108 1,043,108 1,043,108 |
2020 £ £ 867,514 794 39 247,200 248,033 (2,202) 245,831 1,113,345 1,113,345 1,113,345 |
|---|---|---|
The financial statements were approved by the Trustees on 12 April 2022
Marian Lovell Trustee
- 7 -
CHESTER LITTLE THEATRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021
1 Accounting policies
Charity information
Chester Little Theatre is a charitable incorporated organisation (CIO) registered with the charity commission in England and Wales. The registered office is The Little Theatre, Gloucester Street, Chester, Cheshire CH1 3HR.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and "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)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
- 8 -
CHESTER LITTLE THEATRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Property Nil Property improvements 15% reducing balance Plant and equipment 15 % reducing balance Fixtures and fittings 15% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities .
1.7 Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell . Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity 's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
- 9 -
CHESTER LITTLE THEATRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021
1 Accounting policies
(Continued)
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity ’s contractual obligations expire or are discharged or cancelled.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2021 | 2020 | |
| £ | £ | |
| Donations and gifts | 998 | 1,062 |
| Membership fees | 313 | 2,168 |
- 10 -
CHESTER LITTLE THEATRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021
4 Charitable activities
| Theatre | Theatre |
||
|---|---|---|---|
| Activities | Activities |
||
| 2021 | 2020 |
||
| £ | £ |
||
| Box office | - | 24,820 |
|
| Programmes | - | 503 |
|
| Room hire | - | 400 |
|
| Sundry receipts | |||
| 39 | 478 |
||
| 39 | 26,201 |
||
| 5 | Other trading activities | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Bar sales | 30 | 6,715 | |
| Refreshments | - | 791 | |
| Other trading activities | 30 | 7,506 | |
| 6 | Investments | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Interest receivable | 29 | 127 | |
| 7 | Other income | ||
| Unrestricted | Total | ||
| funds | |||
| 2021 | 2020 | ||
| £ | £ | ||
| Net gain on disposal of tangible fixed assets | 360 | - |
- 11 -
CHESTER LITTLE THEATRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021
8 Raising funds
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2021 | 2020 | |
| £ | £ | |
| Raffle Expenses | - | 59 |
| Bar Purchases | 368 | 3,510 |
| Refreshments | - | 68 |
| 368 | 3,637 |
9 Charitable activities
| Theatre | Theatre | |
|---|---|---|
| Activities | Activities | |
| 2021 | 2020 | |
| £ | £ | |
| Depreciation and impairment | 40,127 | 42,232 |
| Insurance | 6,954 | 6,176 |
| Light, heat & water | 7,618 | 6,986 |
| Telephone | 502 | 532 |
| Post, stationery & admin | 91 | 2,326 |
| Print & publicity | 826 | 7,638 |
| Production expenses | 409 | 8,888 |
| Repairs & maintenance | 13,993 | 15,566 |
| Licences | 98 | 431 |
| Sundry expenses | - | 1,417 |
| Professional fees | 1,020 | 2,040 |
| 71,638 | 94,232 |
10 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
11 Employees
The average monthly number of employees during the year was:
| 2021 | 2020 | |
|---|---|---|
| Number | Number | |
| Total | - | - |
- 12 -
CHESTER LITTLE THEATRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021
11 Employees
(Continued)
There were no employees whose annual remuneration was more than £60,000.
| 12 Tangible fixed assets Property Property improvements Plant and equipment Fixtures and fittings £ £ £ £ Cost At 1 August 2020 600,000 286,810 1,067 23,341 At 31 July 2021 600,000 286,810 1,067 23,341 Depreciation and impairment At 1 August 2020 - 39,886 296 3,521 Depreciation charged in the year - 37,038 116 2,973 At 31 July 2021 - 76,924 412 6,494 Carrying amount At 31 July 2021 600,000 209,886 655 16,847 At 31 July 2020 600,000 246,923 771 19,820 13 Stocks 2021 £ Finished goods and goods for resale 426 14 Debtors 2021 Amounts falling due within one year: £ Prepayments and accrued income 3,085 15 Creditors: amounts falling due within one year 2021 £ Accruals and deferred income 1,090 |
Total £ 911,218 911,218 43,703 40,127 83,830 827,388 867,514 2020 £ 794 2020 £ 39 2020 £ 2,202 |
|---|---|
- 13 -
CHESTER LITTLE THEATRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021
| 16 | Analysis of net assets between funds | ||
|---|---|---|---|
| Unrestricted | Unrestricted | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Fund balances at 31 July 2021 are represented by: | |||
| Tangible assets | 827,388 | 867,514 | |
| Current assets/(liabilities) | 215,720 | 245,831 | |
| 1,043,108 | 1,113,345 |
17 Related party transactions
There were no disclosable related party transactions during the year.
- 14 -