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2022-09-30-accounts

EMPIRE THEATRE TRUST CIO

CHARITY NUMBER 1178975

COMPANY NUMBER CE014458

FINANCIAL STATEMENTS & TRUSTEES’ ANNUAL REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2022

EMPIRE THEATRE TRUST CIO

CONTENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

Pages
Charity Information 1
Trustees’ Annual Report 2-4
Independent Examiner’s Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Financial Statements 8-14

EMPIRE THEATRE TRUST CIO

CHARITY INFORMATION

FOR THE YEAR ENDED 30 SEPTEMBER 2022

TRUSTEES:

Andrea Mary Morrall (chair) Neil Keith Hardy Elizabeth Janette Barrow

CHAIRMAN OF THE EXECUTIVE COMMITTEE:

Mike George

TREASURER

Jayne Djidjelli MAAT, ATT

REGISTERED CHARITY NUMBER

1178975

COMPANY NUMBER

CE014458

PRINCIPAL ADDRESS

Empire Theatre Trust CIO Empire Theatre Butler Road Halstead Essex CO9 1LL

INDEPENDENT EXAMINER

Beaumont Seymour 47 Butt Road Colchester Essex CO3 3BZ

BANKERS:

Barclays Bank plc 35 Market Hill Sudbury Suffolk LE87 2BB

Page 1

EMPIRE THEATRE TRUST CIO

TRUSTEES’ ANNUAL REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2022

INTRODUCTION

The Trustees present their annual report together with the financial statements of the charity for the year ended 30 September 2022.

The financial statements have been prepared in accordance with 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 (FRS102) (effective 1 January 2015) (amended 2 February 2016) as detailed in the accounting policies.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity Number 1178975: Company Number CE014458

Principal address

Empire Theatre Butler Road Halstead Essex CO9 1LL

Trustees

The following trustees have served throughout the year:

Andrea Mary Morrall (chair) Neil Keith Hardy Elizabeth Janette Barrow

Officers

The Chairman of the Executive Committee: Mike George Treasurer: Jayne Djidjelli MAAT, ATT

Governing document

Halstead Empire Trust was approved by the Charity Commissioners as a registered charity on 31 March 1978. The Trust is governed by a constitution adopted on 31 March 1978. By resolution of the Trustees, dated the 11 September 2018, Halstead Empire Trust registered charity number 275693 agreed to merge with Empire Theatre Trust CIO, a charitable incorporated organisation, charity registered number 1178975. A pre-merger vesting declaration was made by Halstead Empire Trust that with effect from 1 October 2018 in accordance with S310(2) of the Charities Act 2011 the Empire Theatre Trust CIO shall assume full responsibility for the management and running of all its charitable activities. All the objectives, activities remain the same as set out below.

The charity operates under the name of the “Empire Theatre”. An executive committee administers the everyday running of the theatre.

Recruitment and appointment of new trustees

All trustees are briefed on their responsibilities as trustees prior to their acceptance of the role. Trustees shall hold office until they resign.

Page 2

EMPIRE THEATRE TRUST CIO

TRUSTEES’ ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022

Organisational structure

The trustees hold meetings every three months at which decisions are made.

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. The Trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to ensure regular reports are produced for Trustees to ensure all necessary actions are taken to lessen the risks.

PUBLIC BENEFIT

The Trustees have complied with the duty in Section 17(5) of the 2011 Charities Act to have due regard to guidance published by the Charity Commission in respect of public benefit and in planning the activities for the year, have kept this in mind.

OBJECTIVES AND ACTIVITIES

The objectives, as set out in the original Halstead Empire Theatre Trust constitution document, are for the Trust to promote for the benefit of the inhabitants of Halstead and the neighbourhood surrounding the town, without distinction of sex, political religious or other opinions by associating with the Local Authorities, voluntary organisations and inhabitants in a common effort to advance education and particularly to educate the said inhabitants in the Arts and Sciences of theatre including arts, drama, mime, dancing, singing, and music by the presentation of performances, lectures, film shows, exhibitions, recitals, art exhibitions, arts festivals and other artistic educational and recreational activities and events.

The trustees believe that being involved with “theatre” can play an active role in bringing benefits to all ages of society, including social interaction, relationships and confidence building, as well as the benefits from attending performances and being entertained. The Theatre is very much a community project, involving local people to use the Theatre for a variety of activities.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The Trust continued to be active in fund raising by holding a variety of events. The year again saw streaming events, live bands, Comedy Club nights, bingo sessions, and local theatre groups performing. Cinema slowly began to recover from the impact of the Coronvirus, which also impacted on the Theatre attendances, with numbers returning at a low level.

The Theatre gave a donation of £850 to the Ukranian appeal following a special screening of Encanto in March.

Performance

Following the complete lifting of Covid restrictions all shows including fund raising events, we continued to encourage the safety of our customers and volunteers. We maintained sanitisers in main passage areas, toilets and foyer. With strong finances we were able to continue to build our programme of maintenance and structural repairs and to build a good variety of entertainment. Also, the commitment of the new committee and new chairman implementing their aims at bringing in new volunteers to help with shows, events and projectionist responsibilities and to also give specific roles to volunteers so they were more engaged with running of the Theatre, has proved very beneficial, and we would want the good groundwork to continue. The theatre is also being used by smaller local groups on a regular basis including the Halstead Community Choir.

Page 3

EMPIRE THEATRE TRUST CIO

TRUSTEES’ ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022

FINANCIAL REVIEW

The total incoming resources for the year amounted to £91,600 (2021 - £41,721). Expenditure for the year amounted to £102,861 (2021 - £54,311) which brought a (loss) surplus for the year of (£11,262) (2021 - (£12,591)).

VOLUNTEERS

The trust has no paid employees and is operated solely by between 30 – 40 unpaid volunteers. The trustees express their thanks to them for their hard work and achievements during the year.

RESERVES POLICY

The charity holds reserves in order that levels of service provided may be maintained should there be a reduction in incoming resources. Reserves in this context mean funds that are freely available for the purpose of the charity after all commitments have been met these funds were transferred to the Empire Theatre Trust CIO on 1 October 2018.

FUTURE PLANS

The cinema will continue to show films at least three times a week, our Dementia Friendly and Autism Friendly Cinema will continue with the financial support of local businesses. Our streaming events will also continue as these have proved to be very popular; Royal Opera House events especially. We shall continue with our recruitment drive and will be adding to the volunteer team, as we have introduced specific roles for people, new projectionists and front of house volunteers will be fully trained.

We plan to continue with the Dementia Friendly Choir with the support of Halstead Community Choir and CareUK, to engage with the less fortunate in our area. The plan to deep clean the theatre, following the roof repair and new tile install, will go ahead, this will include carpets, walls (plastered, repairs and painted) and most importantly the seating. The seating will also undergo repair where necessary.

There are plans to engage with younger audiences with young people being encouraged to enter a Young Musicians Competition and also a Halstead’s Got Talent event. We plan to update and change the front of house POS system so that it is more flexible with ticket sales, front of house sales, stock control and accounting. Our intention is to continue to encourage the use of the Theatre, so it maintains its role as an integral part of the community.

Approved by order of the board of trustees on 1 August 2023 and signed on its behalf by:

Andrew Dennis Keane Munday (chair)

- Chair Trustees

Page 4

EMPIRE THEATRE TRUST CIO

INDEPENDENT EXAMINER’S REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2022

Independent Examiner’s report to the Trustees of Empire Theatre Trust CIO.

We report on the accounts of the Trust for the year ended 30 September 2022, which are set on pages 6 to 14.

This report is made solely to the Charity’s Trustees, as a body, in accordance with Section 145 of the Charities Act 2011. Our independent examination work has been undertaken so that we might state to the Charity’s Trustees those matters we are required to state to them in an Independent Examiner’s Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and the Charity’s Trustees as a body, for our independent examination work, for this report, or for the opinions we have formed.

Respective Responsibilities of the Trustees and Examiner

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year (under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

Basis of Independent Examiner’s Report

The examination was carried out in accordance with the general directions given by the Charity Commissioner. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the next statement.

Independent Examiner’s Statement

In connection with the examination and accounts preparation, no matter has come to our attention:

Beaumont Seymour Chartered Certified Accountants

47 Butt Road Colchester Essex CO3 3BZ

Date: 1 August 2023

Page 5

EMPIRE THEATRE TRUST CIO

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2022

----- Start of picture text -----
Notes 2022 2021
£ £ £ £
INCOME RESOURCES
Income and endowments from:
Donations and legacies 5,409 28,290
Charitable activities 86,091 13,431
- -
Separate material item of income
TOTAL 3 91,500 41,721
RESOURCES EXPENDED
Expenditure on:
Raising funds 11,021 6,333
Charitable activities 51,740 9,513
-
Separate material item of expense 3,100
Other 40,000 35,365
TOTAL 4 102,761 54,311
NET (EXPENDITURE) INCOME ( 11,262) ( 12,590)
RECONCILIATION OF FUNDS
TOTAL FUNDS BROUGHT FORWARD
153,947 166,537
TOTAL FUNDS CARRIED FORWARD 142,685 153,947
----- End of picture text -----

All income and expenditure in the comparative and current Statement of Financial Activities were unrestricted.

The Statement of Financial Activities includes all gains or losses recognised in the year

The notes on pages 8 to 14 form part of these financial statements.

Page 6

EMPIRE THEATRE TRUST CIO

BALANCE SHEET

FOR THE YEAR ENDED 30 SEPTEMBER 2022

----- Start of picture text -----
Notes 2022 2021
£ £ £ £
FIXED ASSETS
Tangible assets 6 39,768 48,409
CURRENT ASSETS
Stocks 5 1,727 1,500
Debtors 7 2,395 1,991
Cash at bank and in hand 9 103,385 114,549
TOTAL CURRENT ASSETS 107,507 118,040
CREDITORS:
Amounts falling due within one year 8 4,591 12,502
NET CURRENT ASSETS 102,917 105,538
TOTAL ASSETS LESS CURRENT LIABILITIES 142,685 153,947
FUNDS OF THE CHARITY
Unrestricted funds 10 142,685 153,947
----- End of picture text -----

ON BEHALF OF THE TRUSTEES:

Andrew Dennis Keane Munday (chair) Trustee

Neil Keith Hardy Trustee

Elizabeth Janette Barrow Trustee

1 August 2023 Date

Page 7

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

EMPIRE THEATRE TRUST CIO

1. BASIS OF PREPARATION

CIO Information

The Empire Theatre Trust CIO was registered as a charitable incorporated organisation on 28 June 2018. The Halstead Empire Trust, which was registered as a Charity and governed by a constitution dated 31 March 1978 agreed to merge with the Empire Theatre Trust CIO by a resolution dated 11 September 2018. A premerger vesting declaration was made by the Halstead Empire Trust that with effect from 1 October 2018 in accordance with S310(2) of the Charities Act 2011 the Empire Theatre Trust CIO shall assume full responsibility for the management and running of all its charitable activities and the objectives remain the same per the original governing document.

Basis of accounting

These financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these financial statements.

The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 (“Charities SORP (FRS 102)”) and the Charities Act 2011 and UK generally Accepted Practice as it applies from 1 January 2015.

The financial statements have been prepared to give a ‘true and fair view’ and 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 Charities SORP (FRS 102) rather than Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The Empire Theatre Trust CIO meets the definition of a public benefit entity under FRS 102.

Going concern

The Trustees have at the time of approving the financial statements a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

2. ACCOUNTING POLICIES

INCOME

Recognition of income

Income is recognised in full in the Statement of Financial Activities (“SoFA”) in the year in which it is receivable.

Offsetting

There has been no offsetting of assets and liabilities, or income and expenses.

Grants and Donations

Grants and donations are only included in the SoFA when received.

In the case of performance related grants, income is only recognised to the extent that the charity has provided the specified goods or services as entitlement to the grant only occurs when the performance related conditions are met.

Income from interest

Interest income from cash deposits is recognised in the SoFA gross when receivable.

Page 8

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022

EMPIRE THEATRE TRUST CIO

2. INCOME (CONTINUED)

Legacies

Legacies are included in the SoFA when receipt is probable, that is, when there has been grant of probate, the executors have established that there are sufficient assets in the estate and any conditions attached to the legacy are either within the control of the charity or have been met before the income is received.

Government grants

The charity has received government grants in the reporting period.

Tax reclaims on donations and gifts

Gift aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as addition to the same fund as the initial donation unless the donor or the terms of the appeal have specifiedotherwise. The Charity was registered for Gift Aid on 28 June 2018.

Contractual income and performance related grants

This is only included in the SoFA once the charity has provided the related goods or services or met the performance related conditions.

Donated services and facilities

Donated services and facilities are included in the SoFA when received at the value of the gift to the charity provided the value of the gift can be measured reliably.

Volunteer help

The value of any volunteer help received is not included in the financial statements but is described in the Trustee’s Annual Report.

Settlement of insurance claims

Insurance claims are only included in the SoFA when the general income recognition criteria are met and are included as an item of other income in the SoFA.

2. EXPENDITURE AND LIABILITIES

Liability recognition

Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainly.

Grants with performance conditions

Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SoFA once the recipient of the grant has provided the specified service or output.

Page 9

EMPIRE THEATRE TRUST CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022

2. EXPENDITURE AND LIABILITIES (CONTINUED)

Grants payable without performance conditions

Where there are no conditions attaching to the grant that enables the donor charity to realistically avoid commitment, a liability for the full funding obligation must be recognised.

Redundancy cost

The charity is operated purely by volunteer staff therefore no redundancy payments were made during the reporting period.

Deferred income

No material item of deferred income has been included in the financial statements.

Creditors

The charity has creditors which are measured at settlement amounts less any trade discounts.

Provisions for liabilities

A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date.

Value added tax

The charity is not registered for VAT, therefore expenditure in the SoFA includes the relevant VAT.

Exceptional repairs

Costs of exceptional repairs are charged to the SoFA in the year in which they are incurred.

2. ASSETS

Tangible fixed assets for the use by charity

These are capitalised if they can be used for more than one year and cost at least £100. They are valued at cost. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures, fittings and equipment 20% on reducing balance

Cash at bank and in hand

Cash at bank and in hand is held on a short term basis as working capital.

Stocks

Stocks held for resale are valued at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving items.

Page 10

EMPIRE THEATRE TRUST CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022

2. ASSETS (CONTINUED)

Debtors

Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently they are measured at the cash or other consideration expected to be received.

3 . ANALYSIS OF INCOME

All income in the comparative and current Statement of Financial Activities were unrestricted.

Donations and legacies
Donations and gifts
Legacies
General grants provided by government/other charities
Government Grant
Total
Charitable activities
Charitable activities
Separate material item of income
Sale of obsolete equipment
TOTAL INCOME		 2022
£
809
-
-
4,600
5,409
86,091
-
91,500		 2021
£
7,672
-
-
20,618
28,290
13,431
-
41,721

Page 11

EMPIRE THEATRE TRUST CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022

4. ANALYSIS OF EXPENDITURE

All expenditure in the comparative and current Statement of Financial Activities were unrestricted.

Expenditure on raising funds
Advertising, marketing, direct mail and publicity
Other trading activities
Total
Expenditure on charitable activities
Hire of acts and purchase of supplies for resale being the
cost of running shows and films
Separate material item of expense
The purchase of low value equipment treated as expense
Other
Property running expenses and overheads
Depreciation
Total
TOTAL EXPENDITURE		 2022
£
5,150
5,872
11,021
51,740
-
31,069
8,931
40,000
102,761		 2021
£
2,346
3,987
6,333
9,513
3,100
24,149
11,216
35,365
54,311

There were no staff employed by the charity (2021: no staff employed)

The Trustees received no remuneration or benefits from the charity during the year (2021: none)

Fees paid for the Independent Examination or accountancy £840 (2021: £840)

5. STOCKS

Charitable activities
Stock for resale
At 1 October 2021
Purchases
Obsolete
Sales
At 30 September 2022		 2022
£
1,500
10,764
-
(10,537)
1,727		 2021
£
600
1,783
(65)
(818)
1,500

Page 12

EMPIRE THEATRE TRUST CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022

6. TANGIBLE FIXED ASSETS

COST
Transferred from Halstead
Empire Trust
On 1 October 2021
Additions
Disposals
At 30 September 2022
DEPRECIATION
Transferred from Halstead
Empire Trust
On 1 October 2021
Charge for the year
Disposals
At 30 September 2022
NET BOOK VALUE
As at 30 September 2022
As at 30 September 2021		 Property
Improvements
£
4,041
-
-
4,041
-
-
-
-
4,041
4,041		 Fixtures
& Fittings
£
15,038
-
-
15,038
7,546
1,499
-
9,045
5,993
7,492		 Electrical
Equipment
£
84,646
290
-
84,936
47,769
7,432
-
55,201
29,735
36,877		 Total
£
103,724
290
-
104,014
55,315
8,931
-
64,246
39,768
-
48,409
-

Depreciation is provided at the following annual rates to write off each asset over its estimated useful life. Fixtures, fittings and electrical equipment 20% on reducing balance

7. DEBTORS AND PREPAYMENTS

Analysis of debtors
Trade debtors
Prepayments and accrued income
Total		 2022
£
-
2,395
2,395		 2021
£
-
1,991
1,991

Page 13

EMPIRE THEATRE TRUST CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2022

----- Start of picture text -----
8. CREDITORS AND ACCRUALS
2022 2021
Amounts falling due within one year £ £
Trade creditors 2,481 1,104
Payments received on account for contracts 1,270 10,412
Accruals 840 986
Total 4,591 12,502
9. CASH AT BANK AND IN HAND
2022 2021
£ £
Cash at bank 101,079 113,981
Cash in hand 2,306 568
Total 103,385 114,549
10. CHARITY FUNDS
2022 2021
Unrestricted funds £ £
Transferred from Halstead Empire Trust on
On 1 October 2021 153,947 166,537
- -
Net income for the year
153,947 166,537
Net expenditure for the year 11,262 12,590
At 30 September 2022 142,685 153,947
----- End of picture text -----

11. RELATED PARTIES

The charity is controlled by its Board of Trustees. No member of the Board of Trustees received any remuneration or any other financial benefit from the Charity, and no expenses were reimbursed to them.

Page 14