EMPIRE THEATRE TRUST CIO
CHARITY NUMBER 1178975
COMPANY NUMBER CE014458
FINANCIAL STATEMENTS & TRUSTEES’ ANNUAL REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
EMPIRE THEATRE TRUST CIO
CONTENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
| 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 2023
TRUSTEES:
Andrew Dennis Keanne Munday Neil Keith Hardy Elizabeth Janette Barrow Linda Kemp Appointed 26th October 2023 Karen Pearce Appointed 28th October 2023
CHAIRMAN OF THE EXECUTIVE COMMITTEE:
Jo-Anne Collis
TREASURER
Jayne Djidjelli MAAT, ATT
REGISTERED CHARITY NUMBER
1178975
COMPANY NUMBER
CE014458
PRINCIPAL ADDRESS
Empire Theatre Trust CIO Empire Theatre 57 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 2023
INTRODUCTION
The Trustees present their annual report together with the financial statements of the charity for the year ended 30 September 2023.
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 57 Butler Road Halstead Essex CO9 1LL
Trustees
The following trustees have served throughout the year: Andrew Dennis Keanne Munday Neil Keith Hardy Elizabeth Janette Barrow Linda Kemp Appointed 26th October 2023 Karen Pearce Appointed 28th October 2023
Officers
The Chairman of the Executive Committee: Jo-Anne Collis 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.
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EMPIRE THEATRE TRUST CIO
TRUSTEES’ ANNUAL REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Organisational structure
The trustees hold regular meetings, normally monthly.
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 by holding a variety of events. This year again saw streaming events, live bands, Comedy Club nights, bingo sessions, child and adult film parties and local theatre groups performing.
Performance
With strong finances we were able to replace equipment and install a new air conditioning system to greatly improve the comfort of the audience particularly when the auditorium is full.
The theatre is also being used by smaller local groups on a regular basis including the Halstead Community Choir, Bridge Club and Photography Club.
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EMPIRE THEATRE TRUST CIO
TRUSTEES’ ANNUAL REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
FINANCIAL REVIEW
The total incoming resources for the year amounted to £115,358 (2022 - £91,500). Expenditure for the year amounted to £142,000 (2022 - £102,761) which brought a (loss) surplus for the year of (£26,642) (2022 - (£11,262)).
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 and our Dementia Friendly and Autism Friendly Cinema will continue with the continued 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 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 theatre is collaborating with the local leisure centre and Town Council to show regular films targeting a younger audience.
We are planning to bring back the summer Music in the Park event to raise funds for the theatre.
We are changing the Front of House POS system and the ticketing system and have overhauled the website.
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 2024 and signed on its behalf by:
Andrew Munday
Andrew Munday (Aug 2, 2024 10:26 GMT+1)
Andrew Dennis Keanne Munday
- Chair Trustees
Page 4
EMPIRE THEATRE TRUST CIO
INDEPENDENT EXAMINER’S REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
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 2023, 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:
-
a. examine the accounts (under section 145 of the 2011 Act):
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b. to follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act; and
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c. to state whether particular matters have come to my attention.
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:
-
(1) which gives us reasonable cause to believe that, in any material respect, the requirements
-
to keep accounting records in accordance with Section 130 of the 2011 Act; and
-
to prepare accounts which accord with the accounting records and to comply with the
-
accounting requirements of the 2011 Act; have not been met; or
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(2) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Beaumont Seymour Chartered Certified Accountants
47 Butt Road Colchester Essex CO3 3BZ
Date: 1 August 2024
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EMPIRE THEATRE TRUST CIO
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2023
| Notes | 2023 | 2022 | |||
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| INCOME RESOURCES | |||||
| Income and endowments from: | |||||
| Donations and legacies | 8,567 | 5,409 | |||
| Charitable activities | 106,791 | 86,091 | |||
| Separate material item of income | - | - | |||
| TOTAL | 3 | 115,358 | 91,500 | ||
| RESOURCES EXPENDED | |||||
| Expenditure on: | |||||
| Raising funds | 11,630 | 11,021 | |||
| Charitable activities | 66,864 | 51,740 | |||
| Separate material item of expense | - | - | |||
| Other | 63,507 | 40,000 | |||
| TOTAL | 4 | 142,000 | 102,761 | ||
| NET (EXPENDITURE) INCOME | ( 26,642) | ( | 11,262) | ||
| RECONCILIATION OF FUNDS | |||||
| TOTAL FUNDS BROUGHT FORWARD | 142,685 | 153,947 | |||
| TOTAL FUNDS CARRIED FORWARD | 116,043 | 142,685 |
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 2023
| Notes FIXED ASSETS Tangible assets 6 CURRENT ASSETS Stocks 5 Debtors 7 Cash at bank and in hand 9 TOTAL CURRENT ASSETS CREDITORS: Amounts falling due within one year 8 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES FUNDS OF THE CHARITY Unrestricted funds 10 ON BEHALF OF THE TRUSTEES: Andrew Dennis Keanne Munday (chair) Trustee |
£ £ £ £ 55,995 39,768 2,675 1,727 2,675 2,395 60,218 103,385 65,568 107,507 5,519 4,591 60,048 102,916 116,043 142,685 116,043 142,685 2023 2022 Andrew Munday (Aug 2, 2024 10:26 GMT+1) Andrew Munday |
£ £ £ £ 55,995 39,768 2,675 1,727 2,675 2,395 60,218 103,385 65,568 107,507 5,519 4,591 60,048 102,916 116,043 142,685 116,043 142,685 2023 2022 Andrew Munday (Aug 2, 2024 10:26 GMT+1) Andrew Munday |
|---|---|---|
| 65,568 5,519 |
||
| 142,685 | ||
| 142,685 | ||
Neil Keith Hardy Trustee
Elizabeth Janette Barrow Trustee
Linda Kemp Trustee
Karen Pearce Trustee
1 August 2024 Date
Page 7
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023
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.
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EMPIRE THEATRE TRUST CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023
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.
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EMPIRE THEATRE TRUST CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
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.
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EMPIRE THEATRE TRUST CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
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 |
2023 £ 3,067 - - 5,500 8,567 106,791 - 115,358 |
2022 £ 809 - - 4,600 |
|---|---|---|
| 5,409 | ||
| 86,091 | ||
| - | ||
| 91,500 |
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EMPIRE THEATRE TRUST CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023
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 |
2023 £ 5,986 5,644 11,630 66,864 - 50,521 12,986 63,507 142,000 |
2022 £ 5,150 5,872 |
|---|---|---|
| 11,021 | ||
| 51,740 | ||
| - | ||
| 31,069 8,931 |
||
| 40,000 | ||
| 102,761 |
There were no staff employed by the charity (2022: no staff employed)
The Trustees received no remuneration or benefits from the charity during the year (2022: none)
Fees paid for the Independent Examination or accountancy £882 (2022: £840)
5. STOCKS
| Charitable activities Stock for resale At 1 October 2022 Purchases Obsolete Sales At 30 September 2023 |
2023 £ 1,727 13,708 - (12,760) 2,675 |
2022 £ 1,500 10,764 - (10,537) |
|---|---|---|
| 1,727 |
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EMPIRE THEATRE TRUST CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
6. TANGIBLE FIXED ASSETS
| COST Transferred from Halstead Empire Trust On 1 October 2022 Additions Disposals At 30 September 2023 DEPRECIATION Transferred from Halstead Empire Trust On 1 October 2022 Charge for the year Disposals At 30 September 2023 NET BOOK VALUE As at 30 September 2023 As at 30 September 2022 |
Property Improvements £ 4,041 - - 4,041 - - - - 4,041 4,041 |
Fixtures & Fittings £ 15,038 17,906 - 32,944 9,045 4,779 - 13,824 19,120 5,993 |
Electrical Equipment £ 84,936 11,306 - 96,242 55,201 8,207 - 63,408 32,834 29,735 |
Total £ 104,014 29,212 - |
|---|---|---|---|---|
| 133,226 | ||||
| 64,246 12,986 - |
||||
| 77,232 | ||||
| 55,995 | ||||
| - | ||||
| 39,768 | ||||
| - |
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 |
2023 2022 £ £ 280 - 2,395 2,395 2,675 2,395 |
|---|---|
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EMPIRE THEATRE TRUST CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
| 8. CREDITORS AND ACCRUALS Amounts falling due within one year Trade creditors Payments received on account for contracts Accruals Total 9. CASH AT BANK AND IN HAND Cash at bank Cash in hand Total 10. CHARITY FUNDS Unrestricted funds Transferred from Halstead Empire Trust on On 1 October 2022 Net income for the year Net expenditure for the year At 30 September 2023 |
2023 £ 3,610 1,270 639 5,519 2023 £ 59,029 1,189 60,218 2023 £ 142,685 - 142,685 26,642 116,043 |
2022 £ 2,481 1,270 840 |
|---|---|---|
| 4,591 | ||
| 2022 £ 101,079 2,306 |
||
| 103,385 | ||
| 2022 £ 153,947 - |
||
| 153,947 11,262 |
||
| 142,685 |
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.
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