**Charity registration number 1178159 (England and Wales)** ## **CHESTER LITTLE THEATRE** **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024** ## **CHESTER LITTLE THEATRE** ## **LEGAL AND ADMINISTRATIVE INFORMATION** |**Trustees**|Andrew Fox-Hutchings| |---|---| ||Susan Elliott| ||Raymond Bengree| ||Margaret Bennett| ||Teresa Nunez| ||Peter Russell| ||Christopher Evans| ||Malcolm Gledhill| ||Alison Knott| ||Marian Lovell| ||Jane Barth| ||P Cameron| ||A Wheatcroft| ||M Newman| ||L Fox-Hutchings| |**Charity number (England and Wales)**|1178159| |**Principal address**|The Little Theatre| ||Gloucester Street| ||Chester| ||Cheshire| ||CH1 3HR| |**Independent examiner**|Xeinadin North West Limited| ||2 Hilliards Court| ||Chester Business Park| ||Chester| ||Cheshire| ||CH4 9QP| ## **CHESTER LITTLE THEATRE** ## **CONTENTS** ||**Page**| |---|---| |Trustees' report|1 - 3| |Independent examiner's report|4| |Statement of financial activities|5| |Balance sheet|6| |Notes to the financial statements|7 - 14| ## **CHESTER LITTLE THEATRE** ## **TRUSTEES' REPORT** ## _**FOR THE YEAR ENDED 31 JULY 2024**_ The trustees present their annual report and financial statements for the year ended 31 July 2024. 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, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". ## **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. - Hire of 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 health and safety regulations. ## _Public benefit_ The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. ## **Achievements and performance** ## _Significant activities and achievements against objectives_ CLT has now returned to its normal activity of 6 full length plays performed in the auditorium for 7 days each, with one studio production in November. Audience numbers have returned to pre-COVID levels, with a noticeable increase of new audiences attending. **Hiring/Visiting Group** s: CLT hosted visiting companies, including Against the Grain who performed on multiple occasions. **Development:** The development of the public entrance is ongoing and will be completed during the 2025-26 season. **Conclusion:** All Trustees agreed it had been a good season for CLT, with many artistic projects in the pipeline for the forthcoming season. ## **Financial review** ## _Reserves policy_ All funds are unrestricted with net income in the year of £4,877 (2023: net expenditure £33,539) and resulting total funds of £988,535 (2023: £983,658). At 31 July 2024 cash at bank and in hand totalled £205,229 (2023: £192,019) and tangible fixed assets had a carrying value of £785,986 (2023: £785,465). The Treasurer has carried out a review of the Charity's finances has concluded that the Charity has the ability to continue to pay the maintenance bills this season (2024/2025) from reserves and there will be continuing regular reviews of the finances to ensure the Charity remains solvent. 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. - 1 - ## **CHESTER LITTLE THEATRE** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2024**_ ## **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 future periods** The remodelling of the public entrance is ongoing and will be completed during the 2025-26 season. We will follow this with a review to identify any further projects that may be required, subject to financial constraints. ## **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: Andrew Fox-Hutchings Susan Elliott Raymond Bengree Margaret Bennett Teresa Nunez Peter Russell Christopher Evans Malcolm Gledhill Alison Knott Marian Lovell Jane Barth A Goodman (Resigned 27 July 2024) P Cameron A Wheatcroft M Newman L Fox-Hutchings ## _Recruitment and appointment of 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 and ordinary Trustee members may hold the same post for four consecutive years, (subject to reelection) 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 Trustee 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 2024 Chester Little Theatre had 75 (2023: 79) Members and 48 (2023: 227) Supporters. - 2 - ## **CHESTER LITTLE THEATRE** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2024**_ ## **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: Charlie Nunez Treasurer: Marian Lovell Box Office: Alison Knott Artistic Director: Andrew Fox-Hutchings Stage Director: Vacant Marketing Manager: Lexie Fox-Hutchings Membership Secretary: Charlie Nunez Secretary: Sue Elliott House Manager: Malcolm Gledhill Bar Manager: Ray Bengree Chief Stage Manager: Pat Cameron Technical Director: Chris Evans Wardrobe Supervisor: Peter Russell General Committee Members: Margaret Bennett, Anthony Wheatcroft, Mark Newman and Jane Barth The trustees' report was approved by the Board of Trustees. Marian Lovell **Trustees** 22 May 2025 - 3 - ## **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 2024. ## **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. I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011. ## **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 Charities Act 2011. - 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 financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination. 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** ## **Xeinadin North West Limited** 2 Hilliards Court Chester Business Park Chester Cheshire CH4 9QP 22 May 2025 - 4 - ## **CHESTER LITTLE THEATRE** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE YEAR ENDED 31 JULY 2024**_ |||**Unrestricted**|**Unrestricted**| |---|---|---|---| |||**funds**|**funds**| |||**2024**|**2023**| ||**Notes**|**£**|**£**| |**Income from:**|||| |Donations and legacies|**3**|5,023|3,077| |Charitable activities|**4**|55,008|39,881| |Other trading activities|**5**|18,669|13,233| |Investments|**6**|2,278|819| |**Total income**||80,978|57,010| |**Expenditure on:**|||| |Raising funds|**7**|8,644|5,926| |Charitable activities|**8**|67,457|84,623| |**Total expenditure**||76,101|90,549| |**Net income/(expenditure) and movement in funds**||4,877|(33,539)| |**Reconciliation of funds:**|||| |Fund balances at 1 August 2023||983,658|1,017,197| |**Fund balances at 31 July 2024**||988,535|983,658| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 5 - ## **CHESTER LITTLE THEATRE** ## **BALANCE SHEET** ## _**AS AT 31 JULY 2024**_ |**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**
**The funds of the charity**
Unrestricted funds
**16**|**2024**
**£**
1,185
13,201
205,299
219,685
(17,136)|**£**
785,986
202,549
988,535
988,535
988,535|**2023**
**£**
1,182
8,187
192,019
201,388
(3,195)|**£**
785,465
198,193| |---|---|---|---|---| |||||983,658| |||||983,658| |||||983,658| The financial statements were approved by the trustees on 22 May 2025 Marian Lovell **Trustees** - 6 - ## **CHESTER LITTLE THEATRE** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 JULY 2024**_ ## **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, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". 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 not to prepare a statement of cash flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts 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 or grantors 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. - 7 - ## **CHESTER LITTLE THEATRE** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2024**_ ## **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. - 8 - ## **CHESTER LITTLE THEATRE** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2024**_ ## **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 payments 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. ## **Critical judgements** ## **Determining residual values and useful economic lives of plant and equipment** The company depreciates tangible assets over their estimated useful lives based on historic performance. The actual lives can vary. Judgement is applied also in the residual values of assets. When determining the residual value the trustees aim to assess the amount that the asset would currently obtain if the asset were disposed using market prices where possible. - 9 - ## **CHESTER LITTLE THEATRE** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 JULY 2024**_ ## **3 Income from donations and legacies** |||**Unrestricted**||**Unrestricted**| |---|---|---|---|---| |||**funds**||**funds**| |||**2024**||**2023**| |||**£**||**£**| ||Donations and gifts|1,480||1,550| ||Membership fees|3,543||1,527| |||5,023||3,077| |**4**|**Income from charitable activities**|||| |||**Unrestricted**||**Unrestricted**| |||**funds**||**funds**| |||**2024**||**2023**| |||**£**||**£**| ||**Production and running costs**|||| ||Box office|53,881||38,607| ||Programmes|751||796| ||Sundry income|376||478| |||55,008||39,881| |**5**|**Income from other trading activities**|||| |||**Unrestricted**||**Unrestricted**| |||**funds**||**funds**| |||**2024**||**2023**| ||||**£**|**£**| ||Bar sales|16,975||12,052| ||Refreshments|1,694||1,181| ||Other trading activities|18,669||13,233| |**6**|**Income from investments**|||| |||**Unrestricted**||**Unrestricted**| |||**funds**||**funds**| |||**2024**||**2023**| ||||**£**|**£**| ||Interest receivable|2,278||819| - 10 - ## **CHESTER LITTLE THEATRE** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 JULY 2024**_ ## **7 Expenditure on raising funds** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2024**|**2023**| ||**£**|**£**| |**Fundraising and publicity**||| |Raffle expenses|174|107| |Bar purchases|8,237|5,548| |Refreshments|233|271| ||8,644|5,926| ## **8 Expenditure on charitable activities** ||**Production**|**Production**| |---|---|---| ||**and running**|**and running**| ||**costs**|**costs**| ||**2024**|**2023**| ||**£**|**£**| |**Direct costs**||| |Depreciation and impairment|27,955|31,296| |Insurance|5,492|4,935| |Light, heat & water|10,208|15,529| |Telephone|475|497| |Post, stationary & admin|669|1,013| |Print & publicity|3,884|3,671| |Production expenses|9,395|8,539| |Repairs & maintenance|7,003|16,798| |Licences|204|416| |Sundry expenses|700|619| |Independent Examiner's fees|1,472|1,310| ||67,457|84,623| |**Analysis by fund**||| |Unrestricted funds|67,457|84,623| ## **9 Trustees** None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. - 11 - ## **CHESTER LITTLE THEATRE** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2024**_ ## **10 Employees** The average monthly number of employees during the year was: ||**2024**|**2023**| |---|---|---| ||**Number**|**Number**| |Total|-|-| There were no employees whose annual remuneration was more than £60,000. ## **Remuneration of key management personnel** Key management personnel are not remunerated. ## **11 Taxation** The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. ## **12 Tangible fixed assets** |**12**
**Tangible fixed assets**||| |---|---|---| |**Cost**
At 1 August 2023
Additions
At 31 July 2024
**Depreciation and impairment**
At 1 August 2023
Depreciation charged in the year
At 31 July 2024
**Carrying amount**
At 31 July 2024
At 31 July 2023
**13**
**Stocks**
Finished goods and goods for resale|**Property**
**Property**
**improvements**
**Plant and**
**equipment**
**Fixtures and**
**fittings**
**£**
**£**
**£**
**£**
600,000
294,045
1,067
41,419
-
28,005
-
471
600,000
322,050
1,067
41,890
-
136,654
594
13,818
-
23,685
71
4,199
-
160,339
665
18,017
600,000
161,711
402
23,873
600,000
157,391
473
27,601
**2024**
**£**
1,185|**Total**
**£**
936,531
28,476| |||965,007| |||151,066
27,955| |||179,021| |||785,986| |||785,465| |||**2023**
**£**
1,182| - 12 - ## **CHESTER LITTLE THEATRE** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2024**_ |**14**
**Debtors**
**Amounts falling due within one year:**
Other debtors
Prepayments and accrued income
**15**
**Creditors: amounts falling due within one year**
Other creditors
Accruals and deferred income|**2024**
**£**
5,999
7,202
13,201
**2024**
**£**
3,325
13,811
17,136|**2023**
**£**
-
8,187| |---|---|---| |||8,187| |||**2023**
**£**
1,905
1,290| |||3,195| Deferred income represents income received in advance of the forthcoming financial year for performance. All deferred income is expected to be recognised in the 2025 financial year and all deferred income at 31 July 2023 has been recognised in the 2024 financial year. ## **16 Unrestricted funds** The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. ||**At 1 August**|**Incoming**|**Resources**|**At 31 July**| |---|---|---|---|---| ||**2023**|**resources**|**expended**|**2024**| ||**£**|**£**|**£**|**£**| |General funds|983,658|80,978|(76,101)|988,535| |**Previous year:**|**At 1 August**|**Incoming**|**Resources**|**At 31 July**| ||**2022**|**resources**|**expended**|**2023**| ||**£**|**£**|**£**|**£**| |General funds|1,017,197|57,010|(90,549)|983,658| - 13 - ## **CHESTER LITTLE THEATRE** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 JULY 2024**_ ## **17 Analysis of net assets between funds** ||**Unrestricted**| |---|---| ||**funds**| ||**2024**| ||**£**| |**At 31 July 2024:**|| |Tangible assets|785,986| |Current assets/(liabilities)|202,549| ||988,535| ||**Unrestricted**| ||**funds**| ||**2023**| ||**£**| |**At 31 July 2023:**|| |Tangible assets|785,465| |Current assets/(liabilities)|198,193| ||983,658| ## **18 Related party transactions** There were no disclosable related party transactions during the year (2023 - none). - 14 -