**REGISTERED COMPANY NUMBER: CE014717 (England and Wales) REGISTERED CHARITY NUMBER: 1179310**
## Report of the Trustees and
Unaudited Financial Statements for the Year Ended 28 February 2021
for
Stepping Out Theatre
Moore Chartered Accountants First Floor
29 St Augustine's Parade Bristol BS1 4UL
Stepping Out Theatre
Contents of the Financial Statements for the Year Ended 28 February 2021
||Page|
|---|---|
|Report of the Trustees|1 to 2|
|Independent Examiner's Report|3|
|Statement of Financial Activities|4|
|Balance Sheet|5 to 6|
|Notes to the Financial Statements|7 to 12|
|Detailed Statement of Financial Activities|13 to 14|
Stepping Out Theatre
## Report of the Trustees for the Year Ended 28 February 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 28 February 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Company number**
CE014717 (England and Wales)
## **Registered Charity number**
1179310
## **Registered office**
13 Creedwell Orchard Milverton Taunton TA4 1JY
## **Trustees**
E Stadon M Breckon D McAleer G Pitt (resigned 20.11.20) H Groves S Walker (resigned 20.11.20) E Wilson S James I Robinson (appointed 20.11.20) E Martell (appointed 20.11.20) Dr S Chambers (appointed 20.11.20)
## **Independent Examiner**
Moore Chartered Accountants First Floor 29 St Augustine's Parade Bristol BS1 4UL Approved by order of the board of trustees on ............................................. and signed on its behalf by:
Page 1
Stepping Out Theatre
Report of the Trustees for the Year Ended 28 February 2021
................................................................. Trustee
Page 2
Independent Examiner's Report to the Trustees of Stepping Out Theatre
## **Independent examiner's report to the trustees of Stepping Out Theatre ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 28 February 2021.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the 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:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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 accounts to be reached.
Robert Branch ICAEW Moore Chartered Accountants First Floor 29 St Augustine's Parade Bristol BS1 4UL
Date: .............................................
Page 3
Stepping Out Theatre
## Statement of Financial Activities
## for the Year Ended 28 February 2021
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
16,951
**Charitable activities**
Charitable Activities
2,068
Other income
-
**Total**
19,019
**EXPENDITURE ON**
**Charitable activities**
Charitable Activities
4,753
**NET INCOME/(EXPENDITURE)**
14,266
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
32,677
**TOTAL FUNDS CARRIED FORWARD**
46,943|Restricted
funds
£
32,485
-
31,924
64,409
113,970
(49,561)
51,678
2,117|28.2.21
Total
funds
£
49,436
2,068
31,924
83,428
118,723
(35,295)
84,355
49,060|29.2.20
Total
funds
£
194,039
1,570
-
195,609
132,848
62,761
21,594
84,355|
|---|---|---|---|
## **CONTINUING OPERATIONS**
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
Page 4
Stepping Out Theatre
## Balance Sheet
## 28 February 2021
|Unrestricted
Restricted
funds
funds
Notes
£
£
**FIXED ASSETS**
Tangible assets
6
946
1,839
**CURRENT ASSETS**
Cash at bank
45,998
277
**NET CURRENT ASSETS**
45,998
277
**TOTAL ASSETS LESS CURRENT LIABILITIES**
46,944
2,116
**NET ASSETS**
46,944
2,116
**FUNDS**
7
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|28.2.21
Total
funds
£
2,785
46,275
46,275
49,060
49,060
46,944
2,116
49,060|29.2.20
Total
funds
£
3,747
80,608
80,608
84,355
84,355
32,677
51,678
84,355|
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 5
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## Balance Sheet - continued
## 28 February 2021
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Trustee
The notes form part of these financial statements
Page 6
Stepping Out Theatre
Notes to the Financial Statements for the Year Ended 28 February 2021
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
Page 7
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## Notes to the Financial Statements - continued for the Year Ended 28 February 2021
## **2. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
||28.2.21|29.2.20|
|---|---|---|
||£|£|
|Depreciation - owned assets|962|1,249|
## **3. TRUSTEES' REMUNERATION AND BENEFITS**
During the year, an amount of £4,402 (2020: 3,753) was paid to trustees for works undertaken for the charity.
## **Trustees' expenses**
Trustees have been reimbursed for services provided and/or incurred in the course of their work for the charity.
## **4. STAFF COSTS**
The average monthly number of employees during the year was as follows:
## **5.**
|Project Co-ordination
No employees received emoluments in excess of £60,000.
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
45,349
**Charitable activities**
Charitable Activities
1,570
**Total**
46,919|28.2.21
2
Restricted
funds
£
148,690
-
148,690|29.2.20
2
Total
funds
£
194,039
1,570
195,609|
|---|---|---|
## **EXPENDITURE ON**
continued...
Page 8
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## Notes to the Financial Statements - continued
## for the Year Ended 28 February 2021
|**5.**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**||
|---|---|---|---|---|
|||Unrestricted|Restricted|Total|
|||funds|funds|funds|
|||£|£|£|
||**Charitable activities**||||
||Charitable Activities||||
|||32,568|100,280|132,848|
||**NET INCOME**|14,351|48,410|62,761|
||**RECONCILIATION OF FUNDS**||||
||**Total funds brought forward**|18,326|3,268|21,594|
||**TOTAL FUNDS CARRIED FORWARD**|32,677|51,678|84,355|
||||||
|**6.**|**TANGIBLE FIXED ASSETS**||||
||**COST**|||Plant and
machinery
£|
||At 1 March 2020 and 28 February 2021|||15,324|
||**DEPRECIATION**||||
||At 1 March 2020|||11,577|
||Charge for year|||962|
||At 28 February 2021|||12,539|
||**NET BOOK VALUE**||||
||At 28 February 2021|||2,785|
||At 29 February 2020|||3,747|
||||||
continued...
Page 9
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## Notes to the Financial Statements - continued for the Year Ended 28 February 2021
## **7. MOVEMENT IN FUNDS**
|At 1.3.20
£
**Unrestricted funds**
Unrestricted
32,677
**Restricted funds**
Restricted
51,678
**TOTAL FUNDS**
84,355
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
Unrestricted
19,019
**Restricted funds**
Restricted
64,409
**TOTAL FUNDS**
83,428
**Comparatives for movement in funds**
At 1.3.19
£
**Unrestricted funds**
Unrestricted
18,326
**Restricted funds**
Restricted
3,268
**TOTAL FUNDS**
21,594|Net
movement
At
in funds
28.2.21
£
£
14,267
46,944
(49,562)
2,116
(35,295)
49,060
Resources
Movement
expended
in funds
£
£
(4,752)
14,267
(113,971)
(49,562)
(118,723)
(35,295)
Net
movement
At
in funds
29.2.20
£
£
14,351
32,677
48,410
51,678
62,761
84,355|
|---|---|
continued...
Page 10
Stepping Out Theatre
## Notes to the Financial Statements - continued for the Year Ended 28 February 2021
## **7. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
Unrestricted
**Restricted funds**
Restricted
**TOTAL FUNDS**|Incoming
resources
£
46,919
148,690
195,609|Resources
Movement
expended
in funds
£
£
(32,568)
14,351
(100,280)
48,410
(132,848)
62,761|
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
Unrestricted
**Restricted funds**
Restricted
**TOTAL FUNDS**|Net
movement
At 1.3.19
in funds
£
£
18,326
28,618
3,268
(1,152)
21,594
27,466|At
28.2.21
£
46,944
2,116
49,060|
|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
Unrestricted
**Restricted funds**
Restricted
**TOTAL FUNDS**|Incoming
resources
£
65,938
213,099
279,037|Resources
Movement
expended
in funds
£
£
(37,320)
28,618
(214,251)
(1,152)
(251,571)
27,466|
|---|---|---|
continued...
Page 11
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Notes to the Financial Statements - continued for the Year Ended 28 February 2021
## **8. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 28 February 2021.
Page 12
Stepping Out Theatre
## Detailed Statement of Financial Activities
|for the Year Ended 28 February 2021
Unrestricted
Restricted
funds
funds
£
£
**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
16,366
-
Arts Council Grant
-
-
The Peoples Health Trust
-
6,863
Lloyds Tsb Foundation
-
-
Henry Smith Charity
-
-
John Ellerman Foundation
-
-
Co producer contributions
585
-
Small Grants
-
-
Network for Social Change
-
15,632
Quartet Community Grant
-
9,990
16,951
32,485
**Charitable activities**
Box Office Receipts
624
-
Interest and Refunds
1,444
-
2,068
-
**Other income**
Government Grants
-
31,924
**Total incoming resources**
19,019
64,409
**EXPENDITURE**
**Support costs**
**Management**
Payroll
-
60,738
Rent (incl Theatre Hire)
-
191
General Running Expenses
-
13,269
Miscellaneous Production Costs
-
2,782
Training
-
-
Travel
-
3,404
Carried forward
-
80,384|28.2.21
Total
funds
£
16,366
-
6,863
-
-
-
585
-
15,632
9,990
49,436
624
1,444
2,068
31,924
83,428
60,738
191
13,269
2,782
-
3,404
80,384|29.2.20
Total
funds
£
45,349
870
15,100
48,500
50,000
30,000
1,220
3,000
-
-
194,039
1,107
463
1,570
-
195,609
52,498
9,583
10,231
6,323
75
12,559
91,269|
|---|---|---|
This page does not form part of the statutory financial statements
Page 13
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## Detailed Statement of Financial Activities
## for the Year Ended 28 February 2021
|Unrestricted
Restricted
funds
funds
£
£
**Management**
Brought forward
-
80,384
Subsistence
-
72
Promotional Materials
-
-
Theatre Trips
50
-
Charitable Donations
986
-
Freelance Workers and Artists
3,367
28,500
Net Fixed Assets
349
613
Trustees remuneration
-
4,402
4,752
113,971
**Governance costs**
Impairment losses for tangible fixed assets
-
-
Total resources expended
4,752
113,971
**Net income**
14,267
(49,562)|28.2.21
Total
funds
£
80,384
72
-
50
986
31,867
962
4,402
118,723
-
118,723
(35,295)|29.2.20
Total
funds
£
91,269
9,280
378
1,879
1,694
23,211
1,249
3,753
132,713
135
132,848
62,761|
|---|---|---|
This page does not form part of the statutory financial statements
Page 14