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2023-06-30-accounts

Cotswold Players

Financial Statements for the year to 30 June 2023

Charity number 1180835

Cotswold Players

Charity number 1180835
Principal office Cotswold Playhouse
Parliament Street
Stroud
Gloucestershire
GL5 1LW
Independent Examiner M.G.Spashett BSc 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 2023

Contents

Annual Report 1 - 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Accounts 7 - 8

Cotswold Players

Charity reg. number 1180835

ANNUAL REPORT

The Board of Trustees (The Board) present their report for the year ended 30 June 2023. 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 Management Committee 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 included:

The Board is therefore confident that Cotswold Players meet the public benefit requirement and confirms that it has taken into account the guidance contained in the

1

Charity Commission general guidance on public benefit where applicable.

ACTIVITIES DURING THE YEAR

This year the Cotswold Players have presented a varied programme of 6 productions: The Welkin, Pressure, Around the World in 80 Days, Ladies on the Costa and The Mystery of Edwin Drood all at the Playhouse and a production titled A Couple of Meerkats originally intended for the Stroud Theatre Festival but, due to the incidence of Covid, rescheduled and performed in the lounge at the Playhouse

As usual we have welcomed a number of external companies to the Playhouse, these providing an interesting variety of professional and amateur theatre in the town and encouraging new audiences. We have also welcomed primary schools and dance and drama schools, giving the children an introduction to performing on a real stage. Use of the studio for external classes in youth drama, adult ballet and Pilates has increased.

FINANCES

It is good to report that our income from our core activities – from our own productions and from use of the Playhouse by others - is returning to the levels seen before Covid; we need to continue to build on this to help fund maintenance of the Playhouse building and provide up to date facilities. This year has seen particularly heavy expenditure on the repair of the flat roof and parapet above the studio, areas which have been a problem since the extension was built; this contributed to the loss of £11,860. Having received the premium from the grant of a lease in 2021 as reported last year, the Board approved an investment policy of providing some income but mainly capital growth. However as the stock markets have continued to be unreliable, the majority of the funds continue to be held on a deposit platform.

RESERVES POLICY

For many years, Cotswold Players have aimed 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. Although our current reserves far exceed this level, a large proportion of our funds are and will be being invested for the long term.

BOARD OF TRUSTEES

All members of The Board are trustees of Cotswold Players for the purposes of legislation of Cotswold Players for the purposes of legislation
relating to charities. The trustees during the year were
Judy Free Chairman Sarah Goodwin Treasurer
Babs Kilmister Secretary Steve Goodwin Theatre Manager
Caroline Kendall Rod Clifford Terry Clifford Margaret Keck
Heidi Price John Salter Jess Smith Jonathan Vickers

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.

2

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

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 5 March 2024

3

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 2023, which are set out on pages 5 to 8.

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).

Having satisfied myself that the accounts of the Trust are not required to be audited, and are eligible for independent examination, 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:

  1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. 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.

  4. 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 (FRS102))

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.

M.G Spashett BSc FCA 18 March 2024

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

4

Cotswold Players

STATEMENT OF FINANCIAL ACTIVITIES: YEAR TO 30 JUNE 2023

Note
Income
Donations and legacies
Friends of CP
Grants, donations, sponsorship
Charitable activities
Stage productions income
Subscriptions
Bar and refreshments
Book sales
Other income
Hire of Playhouse/equipment
Site rent - mobile phone companies (2022)
Premium on grant of lease (2022)
Gain/(loss) on disposal of assets
Bank interest
Total Income
Expenditure
Charitable activities
Stage production costs
Abortive costs (2022 - covid 19)
Production sundries
Publicity
Licences and subscriptions
Bar and refreshment costs
Building and equipment maintenance
Professional fees (2022 re grant of lease)
Utilities
Cleaning
Insurance
Post, printing,stationery,
Bank charges
Sundry
Irrecoverable VAT
Depreciation
Total Expenditure
Net Income/(expenditure)
for the year
Balance brought forward
Balance carried forward
at 30 June 2023		 Total Funds
2023
£
421
790
1,211
42,864
3,085
17,513
44
63,506
16,940
-
-
62
4,753
21,755
86,472
21,749
-
306
413
456
9,024
29,578
-
10,939
1,653
5,030
156
930
648
6,783
10,667
98,332
(11,860)
1,073,611
1,061,751		 Total Funds
2022
£
392
3,419
3,811
28,228
2,899
10,946
61
42,134
13,457
(4,807)
310,000
(72)
43
318,621
364,566
22,903
2,589
789
552
346
6,069
17,013
12,580
6,918
1,273
4,374
68
505
315
-
15,277
91,571
272,995
800,616
1,073,611

The notes on pages 7 and 8 form part of these accounts.

5

Cotswold Players

BALANCE SHEET AT 30 JUNE 2023

Note
Fixed Assets
Playhouse
1
Ventilation system
1
Fixtures and fittings
2
Investments
3
Current Assets
Stock
Debtors and prepayments
4
Cash on deposit
Cash at bank and in hand
Liabilities
Amounts falling due within one year
5
Net Current Assets
Net Assets
Funds
Unrestricted		 £
1,206
6,028
184,951
6,226		 2023
£
689,132
39,590
13,574
742,296
125,000
194,455
1,061,751
1,061,751
1,061,751		 £
975
4,766
299,875
25,360		 2022
£
689,132
41,790
16,183
747,105
-
326,506
198,411 330,976
3,956 4,470
1,073,611
1,073,611
1,073,611

Approved by the Board of Trustees on 5 March 2024 and signed on its behalf by

Judy Free Chairman

The notes on pages 7 and 8 form part of these accounts.

6

Cotswold Players

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2023

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 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.

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.

7

Cotswold Players

2. Fixed Assets

Cost
As at 1 July 2022
Additions
Disposal
As at 30 June 2023
Depreciation
As at 1 July 2022
Depreciation on disposal
Charge for the year
As at 30 June 2023
Net Book Value
As at 30 June 2023
As at 1 July 2022		 Playhouse
£
689,132
-
-
689,132
-
-
-
-
689,132
689,132		 Ventilation
System
£
43,990
-
43,990
2,200
-
2,200
4,400
39,590
41,790		 Fixtures and
Fittings
£
154,787
5,858
901
-
159,744
138,604
901
-
8,467
146,170
13,574
16,183		 Total
£
887,909
5,858
901
-
892,866
140,804
901
-
10,667
150,570
742,296
747,105

3. Investments

£ During the year £125,000 was transferred out of the deposit accounts and invested in 121,972.631 units in IFSL CAF ESG Income and Growth Accumulation Fund.The value at 30 June 2023 was 124,070

The investments are shown in the accounts at historical cost.

4. Debtors

Sundry Debtors
VAT repayment
Prepayments		 2023
£
1,682
-
4,346
6,028		 2022
£
556
874
3,336
4,766

5. Liabilities: Amounts falling due within one year

ilities: Amounts falling due within one year
Trade creditors and accruals
VAT due
Moneys received in advance		 2023
£
774
1,482
1,700
3,956		 2022
£
3,139
-
1,331
4,470

6. Officers' Remuneration and Expenses

Two members of the Board of Trustees received reimbursement for expenses for web hosting and for printing etc totalling £328 (2022: £216) and a person connected with another member of the Board £345 for publicity and programme design work. 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.

7. Material uncertainties

There are no material uncertainties.

8

Cotswold Players

STAGE PRODUCTION ACCOUNTS: YEAR TO 30 JUNE 2023

Income
Ticket sales
Sponsors and advertisers
Programmes
Other
Expenditure
Royalty
Scripts and scores
Admin/FOH dressing
Set
Props
Costumes
Hair and makeup
Sound and lighting
Production consummables
Fight/acrobat guidance
Orchestra/musician
Publicity
Programmes
Ticketsource commission
Rosebowl /internal adjudicators		 The Welkin
Pressure
A Couple of
Total
Meerkats
2023
7,127
8,415
354
9,817
4,717
10,665
41,095
-
500
-
-
-
-
500
229
281
-
274
147
338
1,269
-
-
-
-
-
-
-
Around the World in
80 days
Ladies on the
Costa
The Mystery of
Edward Drood
7,356
9,196
354
10,091
4,864
11,003
42,864
375
435
50
525
184
1,600
3,169
232
175
5
240
40
920
1,612
158
109
45
182
-
133
627
190
228
-
1,008
-
854
2,280
351
347
-
308
59
392
1,457
196
708
63
576
25
353
1,921
-
100
-
100
50
287
537
-
-
-
121
-
225
346
150
150
-
210
120
210
840
250
-
-
310
-
-
560
-
-
-
-
-
2,700
2,700
407
291
148
239
194
227
1,506
182
160
10
240
96
214
902
434
529
19
617
295
798
2,692
120
120
-
120
120
120
600
3,045
3,352
340
4,796
1,183
9,033
21,749
4,311
5,844
14
5,295
3,681
1,970
21,115

8