IFIELD BARN THEATRE SOCIETY CIO TRUSTEES. ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS For the year ended 30 April 2024 Charity Registration number: 1194760 (England and Wales)
Ifield Barn Theatre Society CIO GENERAL INFORMATION TrUSTEES J Robins (Chir) S Bloom (Hon¢)wary Staeiary) P Stewart (How Tr¢•suff¥) J Buchan D Gilbert E Jenner S Lock R Lowe P Reeve J Richardson T StNrt (R¢¥4 4 S¢O•nber 2023) (Ammnted 15 Au8U512023) PRESIDENT Prof M J Underhill FRED& FRSA CHARITY REGISTRATION NUMBER 1194760 {En814nd md Wths) PRTr4CIPAL OFFICE AND OPERAThG ADDRESS Ifield Barn The4ty¢ Ifield Str¢¢t Ifield Crnwley Wem Sussex RHII ONN DEPENDE EXAM]NEK J C S¢rudwicK FC& LfhA 18 Es5cnden Road South Croydon Surr CR2 OBU CAF Bank Limited PO Box 289 Kings Hill West Ma]lin8 Kent ME19 4TA P48¢ 1
Ifield Barn Theatre Society CIO REPORT OF THE TRUSTEES For theyear ended 30 April 2024 The TNst¢¢s present their knrtual report and financial sthttments of the tharity for the ye4r ¢nded 30 April 2024. The fin4nci815thtcmenL% have been prepared in accordance with the accounting policies Set out on pages 8 and 9 and comply with th¢ charity's COll5titution. the Charities Act 2011 and"A¢countin8 and Reporting by Charities.. Statement of Recommended Praeti¢e gppltcableto charities preparing their acc<)unts in &c¢Ord£t with the Financial Reporting Standard appIlble in the UK and R¢publi¢ of Ireland IFRS 102)" (tffective I January 2019). CONSTITtmoN AND OBJECTtVES lfield Bam Theatr¢ So¢i¢ty is &Charitsble Incorporated ch8lstioN re8iStered on 10 June 2021. asamended on 25 August 2021. re8iStr8tion number 1194760. The Trustres have agreed the following as a description of th¢ chwity'5 a¢tivities.' 'Yo promote and fost¢r th¢ 4pprecLation of drthma and the arts emong residents within ond uound the north Sussex m." Th¢ Jtrnte8ies employed achieve the charity's objectivw ar¢ to: Present or facilithte: public drama¢i¢ p¢rfornw1¢¢5. amwtew yrtd professio1 con¢ts, reeitAI9, art exhibition4 lecttm, festivals and Y oth¢r appr(yriat¢ event. Provide suitable p¢rman¢nl PTemi5e5 for the st88in8 of any such event in (a) above. Prornote a lively fricndly and ¢table environmetti where mnber$ of th¢ So¢i¢ty with stmilar interests can mcct. Work in rtnerthip with the Ioc81 community for rnutual ben¢fiL QOVERNANCE The Trustees are appointed in AOrdIn¢¢ with the Tru51's constitution at]d are re5rA)n5ible for the overnll dir¢Gtion. eff¢ctivene5$. supervision and aOUnbIlIty of the Trust. Matters may b¢ del¢8llt¢d to 4ppropriate jU¢0Mmittee3 whose membership Shall consist of at lust onc Trustee of the Society. T are appointed by invitation from the exisiiny Trustees to serve a 3 year terni of otTiee, unless resigning or removed from office by resolution of a Genernl Mccting of the Society. but may be re-eleeted for succeedin8 ternis. The Officers of thc S(KiO shall be the Chaimian, the Honorary TTeasurer and the Honorary sretary. Ail TTYSt¢¢s must be mernbers of the chartty and the current Trugt¢es are detailed on pa8e one of this Report. TNsittg provide their servi¢¢s fre¢ of charBe but may reeover outwof-pocket expensm. FINANCIAL RESULTS AND RESERVES The financial st¢m¢nts disclos¢ a surplus of £220 for the ywand this surplus 1$ carri¢d forward at 30 April 2024. Thc WBncc sheet position remAins strong with ch reserves at the totslling £36.544. Surplus fvnds are held in a high interest bank accowit and the Trustees are of the opinion that the ndS carried forward ar¢ Aufficient to rneet cwyent obliBationJ. Page 2
Ifield Barn Theatre Society CIO REPORT OF THE TRUSTEES For theyear ended 30 April 2024 AeHIEVEMEFifs AND PERFORMANCE The So¢iety had • full programmc of productions thi5 yearartd the Tru5tee5 were pleased to see a continuation of healthy attcndanccs. Tickct sales were up 25% on the previous year. although it should be noted that th¢ May 2024 production wL8 brou8hi fOd io April 2024 for 108iSti¢d purp)ses. Gre¢n room ¢ven¢g 8190 continue to be well attended and. &8 a result. bar takin8s were dso positively imw¢d. En¢w price$ hav¢ mosi doubled this year and this has resulted in Catsin witsl expenditure pui on hold. However. decision was made refijrbish the dre&8tn8 rooms duriD8 the year ai a cost of £5.701 &$ tlw wert becomitt8 a health and 5af¢ty ho74rd. We feceived a grani iowards this expendi¢ur¢ of £3,000. Regular Teviews Continue to Ix carria oui by the Finane Comrnititt to ensure our pricin8 policies are kept up io date. Th¢ Tru$t¢¢s ntinue to tsk¢ steps to oecur¢ the fvutTe of the Society and are wnfid¢n¢ th8t th¢r¢ are 5uifi¢ieni ffsourtts io h1¢ye this for at leaA 12 months from the dA of ¥prOV of these fin¢111 sthment$. The Trus¢ees. where w5sibl¢. will continue to invest ID the infrwslructure and amenitie5 at th¢ theatre and hwve 5¢t out 4 progrwnme of conlinued improvement the theatre buildings and equipmenl to ¢nhAnv th¢ enjoymeni of * visit to Ifield Bam Theatre. PUBLIC BENEFfT STATEME The Tn¥lees nrM they hove referred to the guida cont•In within the Ch•rity Cirni55ion'J 8¢n¢r81 gyidan¢e on public benefii when revi¢win8 the S(iety'i aims obje¢¢ivu 4nd in plwin8 futyr¢ activiiies. RISK MANAGEMENT The Trustees ke¢p the m•joT 5tr4te8ic, finthrid and ¢)pcrntional risks which the So¢iety f¢$ 1 the step8 to lessen those risks underregular review. Any rnatlerof conrxrn be deah with withkn the preseni strucrure of wlar Tnutee meetin8S. INVESTMENT POWERS The9e are governed by the Constitution, which pemiit monies not required for immediate purposes b¢ invested in such investrnents BJ the 8ppoirtt¢d see fit. RESERVES LICy Funds rni8¢d for spe¢ifi¢ proj¢¢ts are R¢strietJ Fundi, ¢mly av8ilibl¢ fLY a sified us¢. All other Funds a Unrestricted. The Tnh$t¢e$ h•ve ¢st•blished the level of ruerveg (that 19 th09¢ fvnd$ that are fre¢ly av¥il¥bl¢l that th¢ harity oughi to have. Reserv&s are needtyj to bridg¢ the funding gap5 between Spending on productions events and r¢¢eivin8 r¢sour¢es through admission ¢hw8es ond grants prnvide funding. ReseTv¢s are 0150 held to cover p)uible emergen repairs to the theatre and other expendiftwe. TRUSTEES. RESK)NStBILITES IN THE PREPARATION OF FINANCIAL STATEMEFirs The Trustees are r¢snSible for pr¢p4ring the Thiste¢s' Report the fillanci81 ststunents in accord¢* with applicable law and Uniial Kin8dorn Accounting Sw)dards Iunited Kingdorn Genernlly Accepted A£ting Prartice). Pagc 3
Ifield Barn Theatre Society CIO REPORT OF THE TRUSTEES Forthe year ended 30 April 2024 Chariry IRW requiws the TnletS to ppAre financial statements forea¢h finan¢ia] yearwhich give atn and fair view of ihe 5thte of affAir5 of the ¢hanty at the year end and of its incomiug resource5 and resources expelldcd during that yeor. In prqjaritig those fillanciBI st&temcDts. the Trusttts are required to.. selKt suitable accounting 41¢1¢8 and th¢D apply them cons]¢ny. obsetve the methods and principles in the applicable Charitics SORP. make judgements aDd estirnth that are reasotthle and prudent stst¢ whether 4ppli¢8ble e*¢ounting stsndards ond ststemettts of rccomtncndryj prtICe have been followed subject to any departures disclosed explained in the financial statements; and prepare the financial 51atements on the 8oin8 conccrn basis unlcss it 15 iDappwat¢ tO[lIme that th¢ charity will Wniinue in business. The Trn5tee5 art r¢SnSIbLe for keq>ing propcr accoullting records wbich disclose with re490nabl¢ a¢curacy al any time the fiDancial position of the charity and enable them to ensure that the ftnan¢ial statements comply with the Charities Aei 2011. the Charity (Accounts and Reports) R¢gulaiions 2(K)8 and the provisions ofthe charity's constitution. Thry are also resw)nsible for saf¢guarding the assets of the charity and heD¢e for taking rewnable steps for the prevention and detertion of fraud and other irre8ulaTiti¢S. Approved by th OD Chalman Pa8e 4
INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF THE IFIELD BARN THEATRE SOCIETY CIO I rqA)rt to the on my minallor th fir1 of Th¢ lfield Barn li Socictyfth¢¢h#ity'l forthe yev ejthj JO Awil 1024 l£b 4rt seloul an 6 10 12. Rew•lbJtitkn b•th ofroport A$ the ¢hAriiy'$ ¢rwt¢ts, you are rc4>cwible fw the uf the fimn¢1 Xc4)rde with thr rtyuittnvty oftho Chuities Act 2011 I'thr 2011 A¢t'l. l report In rtwt of my ¢xQrninati of the chritys fin41 8tsmen¢swri4xI ouiur se4ion 145 ofthE 2011 A¢t 8j in r•rryin8 oiii my ¢xAmuJotion I have folknwed all the appli¢bk 8iv¢n by th¢ ChoTity C¢)mmis5ion under n 14515Nbl of the 2011 Art. An lndqxndcn1examllI0ndocstivo1v¢S0thcrisall theevidtCthalvoUldb¢r¢qUired in4nw¢btAndcoDsequently OVA not COVCT &ll the matter¥ In 4JIr ¢onsid¢Th in 8ivin8 thrrir opinion on the a¢uwJnl¥. and conthjct ofw beyId the limit•J ¢mi110n can ry05de. Cwuthtly. l ¢xpr¢gs opinion u 10 wb¢th¢r th¢ 8llt¢ments rni I vi¢w 4nd my twt 15 limiJ to those ¥rtif I h&v¢ my cxamuhlltTh. l ¢fim} thii w Trw¢rial knve come to my 4ttellibJn ITr with thr ¢x•min•iirm VIn8 rwoTh8blc b¢li¢v¢ in Y reyd.. QWLiing r01th were twt kept in re¥p¢a of Te4uirnJty Ixtion 130of the 2011 ACL. or th¢ SleDn th nDI xcord with tht MJrth', or the fir1] s¢lltemtrJt8 do coryly with th¢ 8rvli¢knk requirernents rorternin8 forni and conf¢nt of Accounts Set oui in the Clwiiies (Attounts WMI i1¢pts1 RegUlaEl0 21M)8 othcr Amy rtquirtment th th¢¥wwi¥ 8Ève#'trueknd fiff viewwhi¢h li no¢ • m•tt¢r cawidcrthl i*NJt ¢xamiwtion. I hDve no¢01 Ind httvc eom¢ wrA$ no (thr in connxilthi the examirion to wthich JttcThtio ihould be thiwm in thij oth ty¢n¢ a prow of the be re4¢h¢d. ThUDWICK, FCA. DChA Chartered A¢uDnI The of Chwlered Accowjwits in F8]%d WaltA 18 Essenden Road South Croydon SuTrey CR2 OBU a c)&y Page 5
Ifield Barn Theatre Society CIO UNAUDITED BALANCE SHEET As at 30 April 2024 2024 2023 FIXED ASSETS TaD8ible red assets 68,398 70,085 CURRE ASSETS Stocks 1,327 9,180 36.544 1.975 tkbtors 2,381 44,776 Cash and bank detK)sits 47251 49.132 CREDrfoRS- Amounts falling due within one year (1.337) {5.625) 43.507 NET CURRENT ASSETS 45,414 NET ASSETS 113.812 113,592 Restricte4J fithds 10 9,797 8,369 10 104.015 105,223 113.812 113.5Y2 Appmed by tbe Tntstees on OAY and on th¢ir b¢ha P Stewart Honorary TreasLW J iiobins Chainnan Th¢ not¢s on p88¢$ 10 to 12 fonn part of these accounts Pa8¢ 7
lfield Barn Theatre Society CIO UNAUDITED STATEMENT OF FINANCIAL ACTIVITIES For the year ended 30 April 2024 Notrs Restriaed Unrwtrided funds fund5 224 2023 INCOMING RESOURCES Incoming resour¢es from generoted funds Volun¢ary inwm¢ Membership fee5 Inwming r¢sowc¢s from Charithble Activities Productions 3.300 3.584 3.351 6.884 3.351 8,898 3.085 24.510 24.510 19.671 Activities for genern¢ing Bar operationg L¢ttin85 and other Green Room surplus 17,036 17,036 12,851 2.415 3,074 2.335 3.956 2.335 3.956 investment in¢ome 775 775 290 Total incoming r¢sour¢¢s 3.3(] 55,547 58.847 50.284 RESOURCES EXPENDED Costs of 8¢neratin8 funds Bar oper4ti0rt1 C11tble a¢¢iviti¢s 8,598 48.157 8.598 50,029 5.681 48.059 1,872 T¢Mal resourc¢s exmIed NET INCOMING KESOURCES FOR THE YEAR 1.872 56.755 58.627 53.740 1,428 (1.208) 220 (3.456) RECONCILtATJON OF Total funds brouBht fomrd Total fithds carried forwthrd 8,369 105,223 113,592 117,048 io 9.797 104,015 113.812 113.592 The notes on pa8¢5 10 to 12 fom of these #ccounts. Pa8e 6
lfield Barn Theatre Society CIO ACCOUNTING POLICIES For the year ended 30 April 2024 AccouKrtNG CONVENnON The financial statements have been prepArcd in accordance with the ch8rity's ry)nstituti¢)n, the Charities Act 2011. FRS 102 'The Financial ReEM)rtin8 Standard applible in the UK at)d Reptsblic of Ircland ' t Charities SORP-Accounting and Reporting by Charities: Statement of Recommended Prnc¢i¢e applicable to charitie$ prewins their accounts in accordanee with the Financial Rwting Sthndard alICable in the UK ond Republic ofireland (FRS 102)" {effectiv¢ l January 2019). Thc Charity constilutes a public benefit entity as d¢fined by FRS 102. GofNG CONCERN At the time of 4)PTOViti8 the firtancial stst¢m¢nt8 the trustees have i renable expeewion th¥t th¢ chlrity has adequate ruourtts lo coniinue in ope108[ existertce for the fortseeable future. Thus. the thte¢S continue to adopt thc going LX)nccm basis of 4¢4)untin8 in pr¢parin8 th¢ financial stht¢men INCOMtNG RESOURCES Incomc is recogni5ed in the period in which the ¢hority 1$ eniilled to receipt and the wnount can be mwsured with TewJn4bl¢ certainty. Income is deferred only whcn the chartty hws to fulfil conditions Ixfore becomin8 entitled to it Whe the ¢kJnor h&8 Specifi the income is to bt expend1 in B future period. Grants. donations leBa¢ie$ and intertst art accounted for on the buis of moni¢s re¢eivAble during the year. Income receivable for particular r¢5triffled pur$¢8 is included in incomin8 resources of restrid¢d funds. Don8t¢d &8s¢ts and services includa the value to the charity where this ¢aD be qUlfi. Grts and donations are accounted for wh¢n paid over. or when awarded. RESOURCES EXPENDED AND BASIS OF ALUYATION OF COSTS Reyources expended or¢ included in the statement of financial activilies on an acuy815 basis inclusive of vai which nn01 be recovered. ExnditUre is rt¢oBni5cd orKe there is a 1¢801 or ¢onsinKtive obl1110Th to trAn$feT economic benefit to a third p8rty. it is probabl¢ that a ITan$fer of ¢¢onomi¢ benefits will be required in settlem¢n¢, 4nd the amount of the obliwion cart bc measured reliably. Charitsble a¢tivities in¢lud¢expenditure8gsociated with gtABinB prodUction$W include bcrfh the direct ¢09ts and Support costs relating to the athivitieg. (lovern¢¢ eosts Brethose costs8y%Ki4ted with th¢Bov¢rnwKeofthe charity and its assers and w¢prim•rily 45sl•led with meeting con#ituiional and ststutory requtremertts. STATUS The original Society waj cottstituttd under i Trust Deed dd 31 July 1969 ay 4n Unin¢orporated Association. On 10 June 2021 the So¢hety w&8 converted to a Charitable IncorporAied OrgEnitIon (CIO). Chartty Numbtr 1194760. All of the assets fimds of the Ifield Bjrn Theatr¢ siety were trAnsferred to the new entity ¢)n 28 June 2021. FIXED ASSETS AND DEPRECIATION FiJ(ed ugets are 0rd at $t or. in w¢s wh¢r¢ fixed as%ts have been donated to the cherity, al valuation Ht the tirlle ofacquisition. Page 8
lfield Barn Theatre Society CIO ACCOUNTING POLICIES For the year ended 30 April 2024 Depreciation is calcu]at¢d to write off th¢ cost of an asse( less its estim&trd r¢5iduai value. ovw the useful economi¢ lift of that wet follow5." Leasehold property: beNveen 25•h p.a. on a straight- lin¢ b15. Furnitttre, rtureS and e4uipmenL' Iif/o P.& reducing balance b&%ts. The gain or Itsss arising on the dh5ptss of asset is dd¢rniin¢d &8 the differencL betwcKn the s¢ proceeds and the Carrying value of the asS¢t and is reco8nised in the statement of finan¢iat adivitie$. FUNDS ACCOUNrtNG Funds held by the ¢harity are.. Unreslrictedgeneralfund¥- these Are fimds that w b¢ used in accordanc* with the charitsble objecLs at the di5¢r¢tion of th¢ Tntee9. De5ignaied b4lldingfynd - this building fund w&s set up to cover the cost of th¢ firture renovation and maint¢nance of th¢ heh0]d prernises including emergen¢y repairs to the theatre. Resrri¢ledfythls - restr1d fvnds represents funds whose use was wified by the donor, less amounts expended for those purposes. CURRENf ASSETS Amounts owing to th¢ So¢iety at the ye4r-eDd are shown as debtors l¢ss provision for amounts may prove L¢01]eCtsle. C&%h and bank deposits include casb in hand and shon.t¢rni deposits held with CAF Ballk. SCk is valugj at th¢ lower of ¢ost and net rea]isable value. LIABILMES Liabilities are recorded in the financial st8t¢m¢nts when the Trustce5 have made a commitment to acquire good5 and servic. it is probable that s¢ttlem¢nt will be r4uired and the amount tsf obligation can be measured reliably. TAXATION The ch2riry i$ registered with the Charity Cornrnis5È0n and ur£fore is not liobl¢ for income tsx or rporntion tsx on in¢om¢ d¢riv¢d from its charitsble activities. as it falls within the various exemplion5 available to registered chartltes. FINANCIAL INSTRUMEK15 The ¢h8rity only fJnan¢ial &ss¢¢9 and fiDcIal liabilities of a kind that qualify a5 basic financial instruments. B&8ic financi instrum¢nts e initially recognised &t transaction value and $ubs¢quenUy mea5urcd at their settlement value. Page 9
lfield Barn Theatre Society CIO NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 April 2024 VOLUNTARY INCOME 2024 2023 Restricted.. Grants 3,000 300 Donations 300 Unresrricted: Grants Donations 3.584 8.598 Totsl Grants and Donations 6,884 8098 INVESTMENT INCOME 2024 2023 Unrestricted.. Interest receivable 775 290 COSTS OF CHARITABLE ACTIVITIES 2024 2023 Production costs 6088 7.696 Support costs {note 4) 43,141 40,363 50.029 48,059 SUPPORT COSTS 2024 2023 Premises and insurance 29,120 30,572 utilities 10,402 5.848 Office services and supplies Other sUPPOrt costs 2.109 2.495 1,510 1,448 43.141 40.363 P¢ 10
lfield Barn Theatre Society CIO NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 April 2024 STAFF COSTS The Society relies upon the contributlon of a number of volunteers and the Tntres provlde their services free of charge. FUED ASSETS Furniture. fixtures and equipment Leasehold property Total C05t at l May 2023 Addltlon5 45,420 35,492 80,912 5,721 [6,1521 35.061 5,721 {6,1521 80,481 Disposals C05t at 30 Aprll 2024 45.420 Depreciatlon at l May 2023 Char8ed in year Disposals At 30 Aprll 2024 5,130 2,293 5.697 10,827 5.671 3.378 (4.415) 4.660 (4.415) 12.083 7,423 Net Book Value At 30 April 2024 At 30 April 2023 37,997 30,401 68,398 40,290 29.795 70.085 DEBTORS 2024 2023 Other debtors 9,180 2.381 Pagell
lfield Barn Theatre Society CIO NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 April 2024 CREDiTORS- amounts falling duewithin oneyear 2024 2023 Trade creditors 1,837 1,725 3.900 Acuued charges 1,837 5.625 MOVEMEwfs IN FUNDS Designated funds General fvnds Funds Total At l May 2023 8369 14.636 90.587 113,592 Incoming resources Outgoing resources Transfers between fllhds 3,300 SS.247 58,847 (1872) (56,755) (58,627) At 30 April 2024 9,797 14.936 89.079 113.812 10. ANALYSIS OF NEf ASSEfs BETWEEN FUNDS Restricted Unrestrtcred funds funds Total Tangible fixed assets Netcurrenta55ets 9576 58022 68,398 221 45.193 45,414 9.797 104,015 113.812 Pa8e 12