2023-12-31-accounts - Spa Pavilion Theatre Foundation

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Trustees’ Annual Report for the period

From 1 January 2022 To 31 December 2022

Charity name: Spa Pavilion Theatre Foundation

Charity registration number: 1192609

Objectives and Activities

	SORP reference
Summary of the purposes of the charity as set out in its governing document	Para 1.17	To ensure the advancement of performing arts for all members of the public in Felixstowe and further afield, and especially those who may not otherwise be able to access the arts. To do this through the preservation, promotion and production of live theatrical and musical entertainment at the Spa Pavilion Theatre and in the community or other venues.
Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts.	Para 1.17 and 1.19	The preservation of the Spa Pavilion Theatre building, the production and promotion of theatrical and musical entertainment
Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit	Para 1.18	The Trustees have followed all guidance.

Achievements and Performance

	SORP reference
Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole.	Para 1.20	The charity has been granted a tenancy of the theatre building and operates to provide financially sustainable entertainment and theatre for the benefit of the local and wider community, including residents and those wishing to perform or otherwise engage in the arts. 2022 was the first year of taking over the operation and a careful launch was enacted to ensure a breakeven position, which was achieved, this has been continued in 2023 with higher revenue, more shows but also higher costs. The aim remains to build a solid platform, and for reserves to be created in future, to safeguard the future of the building and the provision of theatre in Felixstowe for the long term.

Financial Review

Financial Review
Review of the charity’s financial position at the end of the period	Para 1.21	The charity is in the fortunate position of taking over from a very favourable landlord and in the early years of operation a break even position has been ensured. This required the landlord to absorb some previous losses as the recovery of theatre and performing arts from the covid related audience downturn has been slow and difficult. 2025 is targeted to provide a surplus and begin the creation of reserves.
Statement explaining the policy for holding reserves stating why they are held	Para 1.22	Unrestricted Reserves are targeted at 10% of turnover. The creation of a restricted fund, for financial resilience, of 5% of turnover, is also targeted.
Amount of reserves held	Para 1.22	£0
Reasons for holding zero reserves	Para 1.22	2022 was the first year of operation, it was a year of taking over the building, and growing into the space, with the support of the landlord to ensure losses were not made at a time when theatre remains challenging. Surpluses, and the creation of reserves which will in turn enable some reinvestment in the arts on offer, are targeted for 2024 and beyond.
Details of fund materially in deficit	Para 1.24	None
Explanation of any uncertainties about the charity continuing as a going concern	Para 1.23	The only uncertainty is around any return of covid and associated lock downs or restrictions which may further undermine the provision of performing arts

Structure, Governance and Management

Description of charity’s trusts:		CIO
Type of governing document (trust deed, royal charter)	Para 1.25	Constitution
How is the charity constituted? (e.g unincorporated association, CIO)	Para 1.25	CIO
Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees	Para 1.25	Every trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees. In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO and will conduct and open and inclusive searchprocess.

Reference and Administrative details

Charity name	Spa Pavilion Theatre Foundation
Other name the charity uses
Registered charity number	1192609
Charity’s principal address	Spa Pavilion Theatre Undercliff Road West Felixstowe Suffolk IP11 2DX

Names of the charity trustees who manage the charity

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20	Trustee name	Office (if any)	Dates acted if not for whole year	Name of person (or body) entitled to appoint trustee(if any)
	GaryWright	Chair
	Sophie Kennelly	Box Office Manager

– Corporate trustees names of the directors at the date the report was approved

Director name

Name of trustees holding title to property belonging to the charity

Trustee name Dates acted if not for whole year

Funds held as custodian trustees on behalf of others

Description of the assets None held in this capacity Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets

Exemptions from disclosure

Reason for non-disclosure of key personnel details

Other optional information

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s) Full name(s) Position (eg Secretary, Chair, etc) Date
	Gary Wright
	Chair
	12.10.2024
	12.10.2024

SPA PAVILION FOUNDATION ANNUAL REPORT AND ABRIDGED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023

SPA PAVILION FOUNDATION ANNUAL REPORT AND ABRIDGED UNAUDITED ACCOUNTS CONTENTS

	Page
Company information	3
Trustee report	4
Accountant report	5
Income statement	6
Statement of fnancial position	7
Notes to the accounts	8

SPA PAVILION FOUNDATION COMPANY INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2023

Director

Charity Number

Registered Office

Accountants

Gary Wright

1192609 (England and Wales)

Spa Pavilion Theatre Undercliff Road West Felixstowe Suffolk IP11 2DX United Kingdom

Square Mile Strategy

SPA PAVILION FOUNDATION CHARITY NO: 1192609 ENGLAND AND WALES TRUSTEE REPORT

The Trustees present their report and accounts for the year ended 31 December 2023.

Chair of the Trustees

Gary Wright held office during the whole of the period.

Statement of Trustees' responsibilities

The Board of Trustees are responsible for preparing the report and accounts in accordance with applicable law and regulations.

Charity law requires the Board to prepare accounts for each financial year. Under that law, the directors have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under charity law the Trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the Foundation and of the profit or loss of the Foundation’s activities for that period. In preparing these accounts, the Trustees are required to:

select suitable accounting policies and then apply them consistently; - make judgements and estimates that are reasonable and prudent; - prepare the accounts on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Foundation's transactions and disclose with reasonable accuracy at any time the financial position of the Foundation and enable them to ensure that the accounts comply with the relevant legislation. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed by the Chair of Trustees

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Approved by the board on: 10 October 2024

SPA PAVILION THEATRE FOUNDATION

Independent Examiners’ Report to the Trustees of Spa Pavilion Theatre Foundation for the Year Ended 31 December 2023

Remit

We are retained to carry out an Independent Examination of the Books and Records of the Foundation and to produce these accounts from those records. We are qualified by experience and formal accountancy qualification to carry out this work. We have been guided in this by Charity Commission Guidance Note for Examiners CC32 and the relevant legislation including the Charities (Accounts & Reports) Regulations 2008 and the Charities Act 2011 (Accounts & Audit) Order 2015.

Background and Scope

The Spa Pavilion Foundation is responsible for accurate record and book-keeping, we have not carried out an Audit and these accounts are solely based upon the records as maintained by the Foundation..

Opinion

Since the Foundation’s gross income exceeds £250,000 the examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am registered as qualified in Accountancy by the Institute of Chartered Accountants of England & Wales, which is one of the listed bodies.

I have completed my examination. In my opinion, these accounts represent a true and fair record of the Charity trading and financial position for the year. We saw nothing of concern in any of the records and have nothing to report to the Charity Commission under our duty to disclose. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
the accounts do not accord with those records; or
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
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.

Signed:

Name: J L Swann FCA

Address: Square Mile Strategy Suite 23, 5th Floor 63-66 Hatton Garden London EC1N 8LE

Date: 11 September 2024

SPA PAVILION FOUNDATION INCOME STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023

Gross proft Administrative expenses Operating proft Proft on ordinary activities before taxation Tax on proft on ordinary activities Proft for the fnancial year	2023 £ 505,785 (505,785) - - - -	2022 £ 369,299 (369,299) - - - -

Profit for the financial year

SPA PAVILION FOUNDATION STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2023

Notes Current assets Debtors Cash at bank and in hand Creditors: amounts falling due within one year Net current assets Net assets Shareholders' funds	2023 £ 11,066 41,504 52,570 (52,570) - - -	2022 £ 5,549 30,639 36,188 (36,188) - - -

For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities.

The financial statements were approved by the Board and authorised for issue on 10 October 2024 and were signed on its behalf by Gary Wright

SPA PAVILION FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023

1 Statutory information

Spa Pavilion Foundation is a Charity registered in England and Wales, registration number 1192609.

The registered office is Spa Pavilion Theatre, Undercliff Road West, Felixstowe, Suffolk, IP11 2DX, United Kingdom.

2 Compliance with accounting standards

The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A as relating to the SORP for CIOs. There were no material departures from that standard.

3 Accounting policies

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Basis of preparation

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.

Presentation currency

The accounts are presented in £ sterling.

4 Average number of employees

During the year the average number of employees was 18 (2022: 16).