Cotswold Players
Financial Statements for the year to 30 June 2024
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 2024
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 2024. 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:
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Providing a broad range of theatre productions for the enjoyment and education of the public
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Encouraging use of the facilities by local primary schools at preferential rates, for their end of year productions in ‘a real theatre’ and providing tech support.
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Sharing resources with other local groups eg loan of costumes and equipment
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Providing a superb venue for an increasing number and variety of dance and drama groups, for both adult and young people.
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Maintaining ticket prices at an accessible level and promoting reduced ticket prices for our own productions for young people
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Encouraging membership to all who are interested - membership is open to all on payment of a modest subscription - and developing strategies to increase member participation in all aspects of theatre - acting, backstage and front of house; providing work experience opportunities
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Encouraging the development of skills and confidence of members, including those with disabilities, with workshops and participation.
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Actively supporting Stroud Arts Festival both in an advisory capacity and in holding a major story telling event.
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Developing links with local businesses for mutual support and marketing.
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Active involvement and support as a member of the Little Theatre Guild (LTG)
The Board is therefore confident that Cotswold Players meet the public benefit
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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
This year the Cotswold Players have presented a varied programme of 5 major productions: Private Lives, Nicholas Nickleby, Snow White and the Seven Dwarfs, All My Sons and Treasure Island and two smaller scale productions – Through Female Eyes and Spotlight Showcase – giving new directors a chance to put on a production.
In November, a group of members travelled to the annual Rosebowl Awards Evening. We were delighted to receive 4 wins from our 13 nominations covering all 5 of our major productions.
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. For the first time we hosted Stroud Town Council’s annual community awards at the Playhouse.
Maintenance of the Playhouse to a high standard continues to be a priority so as to provide a welcoming environment for the public and visiting companies as well as our members. To meet the ever present problem of storage, the props room has been extended over what used to be the boiler room, and an additional self contained storage area has been created in what was part of the office. Improvements have been made to insulation, CCTV has been extended, stage and production facilities enhanced and the installation of air conditioning in the studio and green room is scheduled for later in Summer 2024 which will make both rooms much more pleasant to work in.
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 – continues to improve. This is essential in order to help fund maintenance of the Playhouse building and provide up to date facilities We have benefited from higher interest rates in respect of funds held on deposit and also the stronger stock market has resulted in an encouraging (although unrealised) growth in the investment funds.
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 relating to charities. The trustees during the year were
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| Judy Free | Chairman | Sarah Goodwin | Treasurer |
|---|---|---|---|
| Babs Kilmister | Secretary | Christine Mauler | Theatre Manager |
| Rod Clifford | Terry Clifford | Margaret Keck | Caroline Kendall |
| Jess Smith | Jonathan Vickers | Helen Voyce |
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.
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
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Select suitable accounting policies and then apply them consistently
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Observe the methods and principles in the Charities SORP
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Make judgments and estimates that are reasonable and prudent
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State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements
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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 14 February 2025
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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 2024, 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:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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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.
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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 25 February 2025
Kingscott Dix Limited Chartered Accountants and Registered Auditors Goodridge Court, Goodridge Avenue Gloucester GL2 5EN
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Cotswold Players
STATEMENT OF FINANCIAL ACTIVITIES: YEAR TO 30 JUNE 2024
| 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 Gain/(loss) on disposal of assets Bank interest Total Income Expenditure Charitable activities Stage production costs Storytelling event Stroud Arts Festival Abortive costs recovered Production sundries Publicity Licences and subscriptions Bar and refreshment costs Building and equipment maintenance Utilities Cleaning Insurance Post, printing,stationery, Bank charges Sundry Irrecoverable VAT Depreciation Total Expenditure Net Income/(expenditure) for the year Unrealised revaluation adjustment on investments Balance brought forward Balance carried forward at 30 June 2024 |
Total Funds 2024 £ 413 1,686 2,099 48,166 3,400 19,089 36 70,691 19,710 - 11,055 30,765 103,555 24,087 238 144 - 41 424 514 10,268 16,425 9,925 2,212 5,550 56 726 772 - 10,745 81,839 21,716 17,064 1,061,751 1,100,531 |
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 |
The notes on pages 7 and 8 form part of these accounts.
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Cotswold Players
BALANCE SHEET AT 30 JUNE 2024
| 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 |
£ 1,894 6,487 173,075 2,892 |
2024 £ 689,132 37,390 11,053 737,575 182,064 180,892 1,100,531 1,100,531 1,100,531 |
£ 1,206 6,028 184,951 6,226 |
2023 £ 689,132 39,590 13,574 |
|---|---|---|---|---|
| 742,296 125,000 194,455 |
||||
| 184,348 | 198,411 | |||
| 3,456 | 3,956 | |||
| 1,061,751 | ||||
| 1,061,751 | ||||
| 1,061,751 |
Approved by the Board of Trustees on 14 February 2025 and signed on its behalf by
Judy Free Chairman
The notes on pages 7 and 8 form part of these accounts.
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Cotswold Players
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2024
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) Investments
Investments are shown at market value in the accounts (2023 at cost)
h) Stock
Stocks are valued at the lower of cost and net realisable value.
i) 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.
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Cotswold Players
2. Fixed Assets
| Cost As at 1 July 2023 Additions Disposal As at 30 June 2024 Depreciation As at 1 July 2023 Depreciation on disposal Charge for the year As at 30 June 2024 Net Book Value As at 30 June 2024 As at 1 July 2023 3. Investments Cost as at 1 July 2023 Additions Revaluation adjustment Market value at 30 June 2024 |
Playhouse £ 689,132 - - 689,132 - - - - 689,132 689,132 |
Ventilation System £ 43,990 - 43,990 4,400 - 2,200 6,600 37,390 39,590 |
Fixtures and Fittings £ 159,744 6,024 165,768 146,170 8,545 154,715 11,053 13,574 |
Total £ 892,866 6,024 - |
|---|---|---|---|---|
| 898,890 | ||||
| 150,570 - 10,745 |
||||
| 161,315 | ||||
| 737,575 | ||||
| 742,296 | ||||
| £ 125,000 40,000 |
||||
| 165,000 17,064 |
||||
| 182,064 |
Investments comprise units in IFSL CAF ESG Income and Growth Accumulation Fund. These were reflected at cost in the 2023 accounts; market value at 30 June 2023 was £124,070.
| 4. Debtors Sundry Debtors Prepayments 5. Liabilities: Amounts falling due within one year Trade creditors and accruals VAT due Moneys received in advance |
2024 £ 2,178 4,309 6,487 2024 £ 924 600 1,932 3,456 |
2023 £ 1,682 4,346 |
|---|---|---|
| 6,028 | ||
| 2023 £ 774 1,482 1,700 |
||
| 3,956 |
6. Officers' Remuneration and Expenses
Two members of the Board of Trustees received reimbursement for expenses for web hosting and for printing etc totalling £383 (2023: £328). 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.
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Cotswold Players
7. Material uncertainties
There are no material uncertainties.
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