2021-06-30-accounts - Cotswold Players

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Cotswold Players

Financial Statements for the year to 30 June 2021

Charity number 1180835

Cotswold Players

Charity number 1180835 Principal office Cotswold Playhouse Parliament Street Stroud Gloucestershire GL5 1LW Independent Examiner R J Woodman FCA Kingscott Dix Chartered Accountants Goodridge Court, Goodridge Avenue Gloucester GL2 5EN Bankers CAF Bank Ltd West Malling, Kent ME19 4JQ Lloyds TSB plc Stroud GL5 3BD

Cotswold Players

Accounts for the year to 30 June 2021

Contents
Annual Report	1 - 2
Independent Examiner's Report	3
Statement of Financial Activities	4
Balance Sheet	5
Notes to the Accounts	6 - 7

Cotswold Players Charity reg. number 1180835

ANNUAL REPORT

The Board of Trustees (The Board) present their report for the year ended 30 June 2021. This charity, 1180835, a charitable incorporated organisation governed by a constitution, took over the business, assets and liabilities of charity 225223 (also called Cotswold Players) on 30 June 2019.

The Cotswold Players, established in 1911, owns the freehold of what is at present known as the Cotswold Playhouse, an old Chapel that was converted into a theatre in the fifties. Many improvements have been made over the years to provide excellent facilities for members, visiting companies, hirers and the general public,

OUR PURPOSES AND ACTIVITIES

The purposes of the charity are to promote the advancement and improvement of general education in relation to all aspects of drama and to further the development of public appreciation of the said arts.

PUBLIC BENEFIT

The Board has considered the Charity Commission’s guidance on public benefit, including the guidance on public benefit and fee charging, in planning the activities undertaken by Cotswold Players and at the Cotswold Playhouse. In this context, the public is primarily but not exclusively the community of Stroud and the surrounding villages.

Our activities have been seriously curtailed as a result of the Covid 19 lockdowns and access to the Playhouse restricted. Membership interest has been maintained with the introduction of weekly play-readings using Zoom and short videos performed by members available online. On 27 March, members read by Zoom a solid 24 hours of plays in aid of the charity Teens in Crisis, raising over £3,000 for the charity.

The Board is therefore confident that, in the circumstances, Cotswold Players meet the public benefit requirement and confirms that it has taken into account the guidance contained in the Charity Commission general guidance on public benefit where applicable.

ACTIVITIES DURING THE YEAR

Membership involvement has principally been by online communication with play readings, video recordings of the reading of A Christmas Carol, a one act play ‘Jeannie’ written and performed by a member and a panto ‘Jack and the Beanstalk’, the parts performed and video’d in isolation and stitched together, some Shakespeare monologues and the fundraising for Teens in Crisis described above. We were able to participate in the Stroud Theatre Festival in the autumn, with a production of ‘Isolated but Open’ at a venue in Stroud.

With the Playhouse out of use, we have taken the opportunity to replace the 40 year old heating system with a new heating and ventilation system situated on the roof; this has released additional space for storage. Plumbing for the bar has been improved and stage improvements include the installation of a winch system with strengthened curtain track, a rail system on either side of the stage with leg swivel carriers, and four pairs of leg curtains.

FINANCES

The various restrictions imposed during the year due to the Covid-19 pandemic have had a severe impact on our finances, in particular as there have been no on stage productions either by our own members or visiting companies; hire of the Studio has been minimal. We have been fortunate to receive Covid related grants of £20,138 from the local authority and are also thankful that we have continued to receive the phone mast rent.

As mentioned, we have taken the opportunity to improve our facilities in particular with the new heating and ventilation system which involved significant remedial work on parts of the building. The expenditure on this, together with the ongoing costs of owning a property, resulted in a deficit for the year of £16,782.

RESERVES POLICY

Cotswold Players aim to hold £10,000 in reserves to cover contingencies in connection with the Playhouse and a further £10,000 to cover costs of our productions for which the majority of income is not receivable until after the event. We are fortunate to have built up substantial reserves over the last few years which have enabled us to carry out the major improvements during the year and although our current asset reserves of £40,296 exceed this level, the Board continue to be mindful that, given new telecommunications legislation, the phone mast income is likely to decrease, and the costs of maintaining the Playhouse and continuing to improve the facilities could soon eat into these reserves.

BOARD OF TRUSTEES

BOARD OF TRUSTEES
All members of The Board	are trustees of Cotswold Players for the purposes of legislation relating to
charities. The trustees during the year were as follows:
Judy Free	Chairman Sarah Goodwin	Treasurer
Babs Kilmister	Secretary Steve Goodwin	Theatre Manager
John Salter	Margaret Keck Geoff Butterworth	Jonathan Vickers
Tim Howard to 15/9/20	Christine Mauler to 15/9/20	Patrick Howell to 15/9/20
Terry Clifford to 15/9/20	Caroline Kendall from 15/9/20	Katie Smith from 15/9/20
Jack Boskett from 15/9/20	to 21/06/2021

All trustees retire at the AGM but may seek re-election. Trustees must be members of Cotswold Players. Each trustee is required to take on particular duties within the society and vacancies are advertised within the membership taking into account the skills required in respect of such vacancies. There were no related party transactions with the trustees apart from reimbursement of expenses incurred.

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The trustees are responsible for preparing the annual report and the financial statements in accordance with applicable law and UK Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the constitution require the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements the trustees are required to

Select suitable accounting policies and then apply them consistently
Observe the methods and principles in the Charities SORP
Make judgments and estimates that are reasonable and prudent
State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

On behalf of The Board

Judy Free Chairman

18 September 2021

Independent examiner's report to the Trustees of Cotswold Players

I report on the accounts of Cotswold Players (The Trust) for the year ended 30 June 2021, which are set out on pages 4 to 7.

Responsibilities and basis of the report

As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (the Act).

I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with my examination giving me cause to believe that in any material respect:

accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
the accounts do not accord with those records; or
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

R J Woodman FCA

19 September 2021

Kingscott Dix Limited Chartered Accountants and Registered Auditors Goodridge Court, Goodridge Avenue Gloucester GL2 5EN

Cotswold Players

STATEMENT OF FINANCIAL ACTIVITIES: YEAR TO 30 JUNE 2021

Note Unrestricted Funds £ Income Donations and legacies Friends of CP 425 Grants and donations 20,406 20,831 Charitable activities Stage productions income 475 Subscriptions - Bar and refreshments - Book sales 39 514 Other income Hire of Playhouse/equipment 1,955 Site rent - mobile phone companies 20,750 Insurance reclaim - Bank interest 8 22,713 Total Income 44,058 Expenditure Charitable activities Stage production costs 429 Online activities 507 Support for local charities (see note, below) - Abortive costs (covid 19) - Production sundries 2,654 Publicity - Licences and subscriptions 346 Bar and refreshment costs - Building and equipment maintenance 28,113 Professional fees 4,334 Utilities 3,342 Cleaning 1,025 Insurance 5,691 Post, printing,stationery, - Bank charges 192 Sundry 629 Loss on disposal assets 259 Depreciation 13,319 Total Expenditure 60,840 Net Income/(expenditure) (16,782) for the year Balances brought forward 817,398 Balances carried forward at 30 June 2021 800,616	Restricted Funds £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -	Total Funds £ 425 20,406 20,831 475 - - 39 514 1,955 20,750 - 8 22,713 44,058 429 507 - - 2,654 - 346 - 28,113 4,334 3,342 1,025 5,691 - 192 629 259 13,319 60,840 (16,782) 817,398 800,616	Total Funds 2020 £ 467 11,191
			11,658
			21,326 2,910 9,050 17
			33,303
			10,837 28,250 1,617 110
			40,814

			85,775
			10,568 - 2,568 975 615 900 321 6,183 10,740 2,635 6,279 941 3,167 51 242 200 - 11,568
			57,953
			27,822 789,576
			817,398

Note: An online 'Playerthon' - 24 hours of readings - raised over £3,000 for charity Teens in Crisis. Donations were paid direct to the charity through its website and thus do not appear in these accounts.

The notes on pages 6 and 7 form part of these accounts.

Cotswold Players

BALANCE SHEET AT 30 JUNE 2021

£ 85 15,342 20,013 7,409	£ 97 8,472 89,002 2,388	2020 £ 689,132 - 28,703
		717,835 99,563
42,849	99,959

2,553	396

		817,398
		- 817,398
		817,398

Approved by the Board of Trustees on 18 September 2021 and signed on its behalf by

Judy Free Chairman

The notes on pages 6 and 7 form part of these accounts.

Cotswold Players

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2021

1. Accounting Policies

a) Basis of preparation

These financial statements have been prepared under the historical cost convention and in accordance with applicable Accounting Standards, the Charities Act 2011 and the Charities SORP (FRS102).

The accruals basis of accounting is used for income and expenditure.

b) Incoming resources

Income is recognised in the period in which the receipt is probable. In accordance with this policy, legacies are included when the charity is advised by the personal representative of an estate that payment will be made and the amount involved can be quantified. Grants are recognised when awarded unless there are conditions to be met before payment can be made.

c) Donated services and facilities

Donated services and facilities are included in incoming resources when the benefit to the charity is reasonably quanitifiable and the amount measurable. They are valued by the trustees at the amount the charity would have been willing to pay for services or facilities on the open market.

d) Interest receivable

Interest on funds held on deposit is included when receivable by the charity.

e) Fund accounting

Unrestricted funds are available to further any of the purposes of charity. Restricted funds are donated for a particular area of the charity work or specific projects undertaken.

f) Tangible fixed assets

Tangible fixed assets are measured at cost and subsequently measured at cost net of depreciation. Depreciation is calculated to write off the cost, less estimated residual values, of tangible fixed assets over their estimated useful lives and the following annual values are used in respect of each major category:

Playhouse 2% on cost less residual value Ventilation system 5% on cost (from 2021 22) Fixtures and fittings 20% on cost

No depreciation is provided on freehold buildings because in the Trustees opinion the real (inflation adjusted) estimated residual value is not less than the carrying value in the accounts. The ventilation and heating system was installed late in 2020 21, and commissioned in July 2021 so depreciation will commence in 2021 22.

g) Stock

Stocks are valued at the lower of cost and net realisable value. h) 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 statement of financial position 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.

Cotswold Players

2. Fixed Assets

Cost As at 1 July 2020 Additions Disposal As at 30 June 2021 Depreciation As at 1 July 2020 Depreciation on disposal Charge for the year As at 30 June 2021 Net Book Value As at 30 June 2021 As at 1 July 2020 3. Debtors Sundry Debtors VAT repayment Prepayments 4. Liabilities: Amounts falling due within one year Trade creditors and accruals VAT due Moneys received in advance	Playhouse £ 689,132 - - 689,132 - - - - 689,132 689,132	Ventilation System £ - 43,018 - 43,018 - - - - 43,018 -	Fixtures and Fittings £ 141,858 13,045 807 - 154,096 113,155 548 - 13,319 125,926 28,170 28,703 2021 £ - 7,448 7,894 15,342 2021 £ 2,217 - 336 2,553	Total £ 141,858 56,063 -
				197,921
				101,587 548 - 13,319
				114,358
				83,563
				28,703
				2020 £ - 1,035 7,437
				8,472
				2020 £ 216 - 180
				396

5. Officers' Remuneration and Expenses

Two members of the Board of Trustees received reimbursement for expenses for web hosting and for printing etc totalling £160 (2020: £202). Apart from this, no other members of the Board nor any person connected with them has received or is due to receive any remuneration for the period directly or indirectly from charity funds.

6. Material uncertainties

There are no material uncertainties.