Charlty reglstration numbor 1194206 EASY STREET THEATRE COMPANY CIO ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 23 APRIL 2021 TO 30 SEPTEMBER 2022
EASY STREET THEATRE COMPANY CIO LEGAL AND ADMINISTRATIVE INFORMATION Trusteos MrA Tyas Mr G IA&lker M BradfrKd Mrs K J Bwhton IApp)inled 6 May 20211 (Appointed 7 October 20211 (Appointed 6 May 20211 (Apwinled 6 May 20211 Charty number 1194206 Prlnclpal address Nursery Vtstsrks Lon(kn Ro*J Sheffidd SoLth Yorkshire S8 OUJ Independent examlner Brearfey & Co Accountants "m[ 39143 Bridge Street MeyI)orrh South yOshIre Bankers Nalwest Bank PIC 26 Market Hill Bamsley South ykSh S70 2QE
EASY STREET THEATRE COMPANY CIO CONTENTS Page Trustee reFQrt Independent examiners report Statement of financial aeb"vrties Balance shoel Notes lo the finawal stslemenls 6-10
EASY STREET THEATRE COMPANY CIO TRUSTEE REPORT FOR THE PERIOD ENDED 30 SEPTEMBER 2022 The trustees present their annual report and financaal statements for the Period ended 30 September 2022. The financial statements have teen prepared in aecordance the accounting policies set out in note to the finan¢ial slalemenls and compty vrith the charities memcYarKlum and artides of association, the Charties Act 2011 and "Accounb'ng and RetIng by Charites Statement of Recommended Practice applicable to charities prepariThJ their accounts in accordance the Financial Re&'n9 Standard applicable in the UK and Republic of Ireland (FRS 102)" las amended for accounb.ng riodS commewng from 1 January 20161. Objgctivès and a¢thiftles The Chanty is organised by Fr Trustees. The main oty'ectives of the chanty are to athance ts ed411 of pec¢)le under the age of 25 in dramatie and perfomiing arts, including by.. 1. The o¥]On of a structured programme of leaming in theatre and technical skills and., 2. The provtsion of experimentsl leaming opprxtunrbes through the wovi&on of live performances for the benefit of the general publio The trustees have paid due regard to guKlance issued ty the Chanty Commission in decithng t aLthvilies the charity should undertake. Achlevements and perf0mnCe Trustees, meet regular (at least once every 6 weeks}. are in regular email Cts and work llaboratiVe on all aspects of their roles. Inductions ale part of our meetirKJs vthen trustees are brought on board. Trustees give their lime for free and receive no financial benefft. The charity works for the pubiic benefft having its objeltive the health and wellbeing of children 8nd young adults. in particular by."11) pr(MnotiThJ thwr care and safety, {21 promoting their heatth and wellbeing, (3) prowding educabon in perfoming arts lo gNe them the Confiden lo perfom on stage. In all our work the trustees have regard to the guida9 issued by the Charity Cc¥nmis&on on public benefit. We listen lo the view5 of the chiklren, adults. parents a)d staff arKI use the feedbad( lo improve our SOety. We develop positive relationships wth parenls and carers and irwrte them into our settirMJ. We value all thildren and adults and indrviduals and celebrate Brrtain's divefgty of cJJlture of elhnicty. VbÈ have Wioes procedures in place for all aspects of 5af8giJarding. child protecb.on and health arKI safety. Flnanclal revlew 11 is the policy of the charity that unrestrithd fuThts wtuch have been designated for a speLyfic use should be maintsined al a level equivalent to befvfftn three and wx months expendrture. The trustees consider that resee$ at this level wll ensure that, in the event of a sgnthcant drop in funding. they wll be able lo conts.nue the tharity's eurTenl activibes while considerab.on is gNen to ways in which addit*)nal lurKls may be raised. This level of reseNe¥ has been maintained throughout the year. The trustees have assessed the major risks to which the chanty is exposed and satisfied that Systems are in place lo mitsgale exposure lo the maior risks.
EASY STREET THEATRE COMPANY CIO TRUSTEE REPORT (CONTINUED) FOR THE PERIOD ENDED 30 SEPTEMBER 2022 structure. governan and management The trustees who seNed during the Period and up to the date of $ignaiure of the financial statements were: MrA Tyas Mr G Wdlkei Mrs M Bradford Mr5 K J Broughton IApFK)irrted 6 May 20211 {Apw'nted 7 October 20211 IAppointed 6 May 20211 (Appointed 6 May 2021) The Trustees of the charity are also members of the thanty. The board of Injstees 1$ the goveming body of Easy Street Theatre Company. Trustees are elected by the member5 and their names are presented at the annual geneTal meetlng IAGM) of the chanty. Apw'nled Trustees are selected by virtue of their background, knowledge and experience and bring skills that are complementary to those of the Elected Trustees. The Charity's Nominations and Procedures Commrttee is reSpOnbIe for idenbfying these indNiduals on behalf of the Board of Trustees in line th the method set out in the chariVs Bye L. The rIcj of office of th8 tKJard of Truste8s is three years. New Trustees are given an induthon pack on election or appointment. The trustee report approved by the Board ofTwstees. Mr G Walker Trustee Date..
EASY STREET THEATRE COMPANY CIO INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF EASY STREET THEATRE COMPANY CIO l port to the trustees on my examination of ts finanL?al sLgtemerrts of Easy Street Theatre Company CIO (the chantyl for the Perrj erKled 30 September 2022. Re8ponslbllitles and basis of report As the trustees of the charitycharity you are spOrtsIble for the preparnts.on of the finanrial statements in accordance with the requirements of the CharitsAct 2011 (the 2011 Ara). I report in respect of my eXaMinan of the tharity's finanaal statements Lzrried out under secticm 145 of the 2011 Act. In carying out my examination I have followed all the applicle DIrS given by the Chanty Commission under section 14515llbl of the 2011 Ad. Independent examlnerfs statement Your attenb.on is dravm lo the fact Ihal the charity ha5 prepared financial ststemerrts in aCcdarte Accounting and Reporting by Charities preparing their aCcnts in accOr(lan th the Financial Reporting Standard applicable in the UK and Republic ol Ireland {FRS 102) in Preferen to the Accounb"ng and Reporting by Charities.. Statement of Recommended Pracce issued on 1 Apxil 2(K15 vthich is rekned to in the extant regul8ts.ons but has now been withdrawn. l understsnd that this has been done in order for finanoal statements to provide a and fair view in accordance with GenerallyAccepled Accounting Practice effectsve for rerKSrting Feriods beginning on or after 1 January 2015. I have completed my examination. I confimi that no matter5 have come to my attenlion in connecti(¥) Mlh the examination giving me cause to believe that in any material respect.. accounting records were kept in resfv of the chanty as requiwl by se("on 130 Of 2011 Act.. or the financial stslements (lo not accord ¥h those records.. or the financial statements do not comply wrth the 8pplic&* requ¥ements 0)nrrn9 the fom and content of aecounts set out in the Charitres (Accounts and Reports) Regulth"ons 2008 other than any requirement that the accounts give a true and fair view whtch is not a matter consKler&J as part of an independent examinab"on. I have no concems and have come across no other matters in connectKJn wlh the examination lo %thich attgnlion should be drawn in this report in order lo enable a proper understsnth"ThJ of the financial stslements lo be reached. &Lo Brearley & Co Accountarkts Umlted 39143 Bridge Street Swinlon Mexborough South Yorkshire S64 8AP Dated..
EASY STREET THEATRE COMPANY CIO STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE PERIOD ENDED 30 SEPTEMBER 2022 Unrestrictsd funds 2022 Donations and legacies Charitable activities 9,392 18.522 Total Incon 27,914 Charitable ath'vities 8,649 Net Income for the Pariodl Net movement in funds 19,265 Fund balanS at 23 April 2021 Fund balances at 30 September 2022 19,265 The Statement of financial aCtive$ indudes all gains and kmes recog)ised in the Period. All income and expenditure derive from conb"Ning actmties.
EASY STREET THEATRE COMPANY CIO BALANCE SHEET AS A T 30 SEPTEMBER 2022 2022 Notes FSxed assets Tangible assets 799 Current assets Stocks Cash at bank and in hand 18,315 Credftors: amounts falling duo wlthin one year 19,158 (6921 Net current assets 18.466 Total assets less current Ilabllttles 19,265 Income funds Unrestricted fvnds 19,265 19,265 The financial st*ements aFproved by the Trustees on ..S.I'".P&W!L zoz) MrA Tya Trustee
EASY STREET THEATRE COMPANY CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2022 Accounting pollcles Charlty InfornMtIorn Easy Street Theatre Company CIO is a charty. IVS registered address 1$ Nursery Woths. 100 Lrtile London Road, Sheffiekl, S8 OUJ. 1.1 Accounting convenllon The financial ststements have t)een prepared in accordan vthh the charivs memorandum aNJ arb¢tes of assoualion, the Chanties Act 2011 and "Aceounting arKI Rep(xling by charit5. Statement of Recommended Practice applieable to charrttes preparing thr acctyJnls in aco)rdance ¥th the Financial Reporbng Stsndard applicable in the UK and Republic of Ireland IFRS 102)" {as amended for accounting peric¥Js commencAng from 1 January 20161. The chanty is a Public Benefit Enw as defined ty FRS 102. The charity has taken advantage of the rmovisions in the SORP chanties applying FRS 102 Upd Bulletin 1 not lo prepare a Statement of Cash Flows. The financial statements have departed from the Chanties (Accounts and Reports) Regulations 2008 only lo the exient required to provide a true and fair Vie•V. This departure has involved folFowng the Ststemenl of Recommended Practi ts Charit applying FRS 102 rather than Ihe version of the Statement of Recommended Practice which referred lo in the Regutats'or but which has since been wlhdrawn. The financial statements have been prepared under Ihe historical cost convention, ImodTfied to include the revaluation of freehdd prO[b"eS and lo Inl inveslmenl properties and rtain financial instruMents at fair valuel. The prinupal accountiThJ rx)Iic4es ad¢¥rted a set out bel. 1.2 Going concern At the lime of arvoving the financial statements. the trustees have a reasonable exItatIon that the charity has adeqlte resources to continue in operab.onal &SterCe for Ihe foreseeable future. Thus the trtee8 continue to ad¢Jpt the going corwn bas of acLunting in prepaiirrfj the finanoal statements. 1.3 Charltsble funds Unrestricted funds are aVailae for use at the drsuetK)n of the trustees in fvrtherare of their charitable obJ"ectives. Restrided fvnds are subject lo spe¢thc condttions by dorKys as to how tlw may be used. The purrx)ses and Uses of ihe restn"cte(I funds are set in the notes to finala1 statements. Endowment fvnds are subject to specrfic coThJiti(x)s by dcff that the capital musl be maintained by t charity. 1.4 Income Income is reccgnised en the chaTrty is legalty entrued to rt after any performance nd"OnS have been mel. the amounts can be measured reliably. an(J it is probable that inccme will be reiVed. Cash donations are recognised on receipt. Other donatK)ns are reccgnised On the charity has been notffied of the donation. unless perfomwnee C0ndrtS require deferral of the amoLrt. Income lax recoverable in relation to donations received K18[ GrftAid or deeds of covenant is reo)gnised al ts time of the don8lKJn. Legacies are re(bgnised on rlpt or Otheryse rf the chanty has been notified of an impending dElribution, the amount is known. arKJ rept is expeded. If the amnt 1$ Tr)t known, the leg¥y is treated as 8 contingent asset.
EASY STREET THEATRE COMPANY CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 30 SEPTEMBER 2022 Aecountlng polielÈs {Coniinued) 1.6 ExpendlttTre Expenditure is recognised once there is a legd or construrve oklgatiOn to transfer economic benefit to a third paty, it is probable that a transfer of economic benefits W11 required in setttement, and the amount of the obligation ean be measured reliabty. Expendtture 18 dassthed by activty. The costs of each ¥b"vity are made up of the total of dIrt costs and shared costs. induding SUppt costs involved in uThJertaknng e¥h actr.vty Direct costs attribulaue lo a single a(aivity are lOCated diredy to that actrvtty. Shared costs which w)kn"bute lo more than one acb.vty and support costs which are not attributable lo a sirole acb.vty are apportioned beeen tlse activilEs on a ba&s consislerrt with the use of resources. Central staff costs are alkncated on the basis of time spgnt, and depreciation charges 8Te allocated on the rNb'on of the asset's use. 1.6 Tanglble fixed assets Tangible fixed assets are initsally measured * cost and subsequenty measured at st or valuation, net of depreciation and any impaimient losses. Depreciation is recognised so as to VTite off the cost or valuatron of assets less their residual value5 over their useful lives on the following bases.. Fixtures 8TrJ fittings 25% Reducing balan The gain (Y bss arising on the disposal of an asset 1$ detemiined as the differen between the sale proceeds an(1 the carywng value of the asset, 8rKI is rwnised in Ihe statemanl of firrancial activities. 1.7 Impalrment of fixed assets Al each reportiNJ end date, the chanty viS the Carn9 amounls of its tsngible assets to determine whether there is any indi¢ab"on that those assets have suffered an impainnenl loss. If any sh Indution exists, the reverable amount of the asset is estimated in order lo determine the extent of the impairment loss Irf any). 1.8 sto¢ks Stocks are slated at the of st arKI esb"mated selling prrce less costs lo complele and sell. Cosl comprises direct materials and, where applicable. direcl labour costs and those overtTreads that have been incurred in bringing the slrxks lo their present kcation 8fKI nd[l10n. Items held for dislribub'on al no or nominal conSideratn are measured the Ier of r¥acement cost and cost. Net realisable value is the ests"mated sellirKJ price less all estimated $ts of (L)mpletion and costs lo be incurred in marketing. selling arnl distribuh"on. 1.9 Cash and cash equlvalents Cash and cash equivalents inclLbJe cash in haThJ. IkrM)sris held at call banks, other short-term liquid inveslmenls wrth original maturTties of three mtN)ths or less. a1 bank overdrafts. Bank overdrafts are shown within borrowngs in cuffent liabilikn"es. Basic financial assets Basic financial assets, which indude debtors and cash and bank balances, are initially measured at transaction pri inclLvJing transacon costs and are subsequenuy carried at amortised cosl using the effective InteSt method unless the arrangement constitute5 a finanang transactK)n. where the transaction 18 measured at the present valua of the future receipts discounted at a market rale of Interest. Financiaj assets classified as Weab wthin one year are not amorttsed.
EASY STREET THEATRE COMPANY CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 30 SEPTEMBER 2022 Accounting pollcles (Contlnued) Baslc Ilnanclalliabllllies Basic financial liabilities. inclu(IrKJ ¢Thlitors and bank loans are inrtially recognised at transaction price unless the arrangement conslituies a finawng transacts"on. vthere the debt instwment is measured at the prEsenl value of the fulure payments disc(nted at a market rate of interest. Finanaal liabilthes dassified as payable wrthin one year are not amortised. Debt instruments are subsequentry carried at amortised cosL using the effective interest rate methc*J. Trade credit(X5 are obligations to pay for lS OT Se$ that have been acquired in the ordinary course of operations from suppliers. Amounts payable are dassified as currenl liabililies rf payment is due within o year or less. If not, they are presented as norFcurrenl liabiltti"es. Trade credrtors are recognised inrtially at transaction price and subsequw measJJred at am0"Sed cost Ung the effeth.ve interest method. Derecognition of financialliabilities Financial liabilities are deiecognised en the thartys ccffttracbjal obligat•)ns expire or are discharged or cancelled. 1.10 Employee b•n?ffts The cost of any unused holKlay entiljement is reca)gnrsed in perKxJ in whicth the emF4oyee's serv$ are received. Termination beneffils are recognised immediately as an expense when the charty is demonstrably committed lo lerminale the employinenl of an employee or to proMde tem]ination beneffts. Donatlons and legacles Unrestrlcted fund¥ 2022 Membership fees 9,392 Charltable actlvities 2022 Perfomance income 18.522
EASY STREET THEATRE COMPANY CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 30 SEPTEMBER 2022 Charltable actlvltl 2022 Pgrforman¢e costs Closlng stock Travel Advertisbng Pnnting. ptsslage and stationery Rent Llcencg f888 Computer Costs Insurance Legal & prof088lono1 fee8 Accountancy Bank charges Funds gifted from p¥108 enllty Deweclalion 16.777 18431 1,600 80 206 4,SSO 3,220 150 339 287 540 118,5081 267 8,649 8.649 Non8 of the tru$lees lor any per¥on8 connected wllh them) recelved any remuneration or benefi18 from the charity durfng the Period, Employ088 Thg averagg monthly numbèr of employees during the Perlod was.. 2022 Numbgr Total There were no employees whose 8nnual remunerallon w88 more than £60.000.
EASY STREET THEATRE COMPANY CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 30 SEPTEMBER 2022 Tangible fixed assets FSxturos aThJ flttln Cost Additsons 1,066 AI 30 September 2022 Depreclation and Impairnient Depreciatson charged in the Per 267 At 30 September 2022 267 Carrylng amovrrt AI 30 September 2022 stks 2022 Finished good5 Credltors: amounts falling due wlthln orF8 year 2022 Ar8F5 and deferred inccffn@ 692 10-