Charity Number: 1196217
## The Playhouse Theatre Cheltenham
Report and financial statements For the year ended 31 August 2023
Doc ID: 16dd51f7cb2eea8332347ee9c63b85f67da4deb4
## The Playhouse Theatre Cheltenham Reference and administration information Year ended 31 August 2023
**Charity number** 1196217 **Registered office and operational address** Cheltenham Playhouse 47-53 Bath Road Cheltenham GL53 7HG
## **Trustees**
Trustees who served during the year and up to the date of this report were as follows:
Maureen Mytton Chair (Appointed 4 Oct 2022) Kieran Mortell Neve Tivnann (Appointed 4 Oct 2022) Roberta McGlade (Appointed 16 Jan 2024, resigned 25 Jun 2024) Sophie Constantine (Resigned 31 Aug 2023) Toby Rolt (Resigned 19 Jun 2023) Sarah Gittins (Resigned 12 Jun 2023) Matthew Nolan (Resigned 20 Dec 2022) Anne Chandler (Resigned 30 Sep 2022 Ex-officio trustees: Kieron Milsom General Manager (Resigned 31 Aug 2023) Martha Henley Deputy General Manager (Appointed 17 Mar 2023)
## **Key Management Personnel**
Kieron Milsom Chief Executive Officer (Appointed 11 Apr 2022) Martha Henley Deputy General Manager (Appointed 1 Jan 2023)
## **Bankers**
Lloyds Bank Plc 25 Gresham Street London EC2V 7HN
## **Independent Examiner**
Kate Adderley, Third Sector Accountancy Limited, Holyoake House, Hanover Street, Manchester M60 0AS.
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Doc ID: 16dd51f7cb2eea8332347ee9c63b85f67da4deb4
## The Playhouse Theatre Cheltenham Trustees’ Annual Report for the year ended 31st August 2023
The trustees present their Annual Report and financial statements for the year ended 31st August 2023 for the Playhouse Theatre Cheltenham CIO (1196217).
Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the Memorandum and Articles of Association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.
## **Objectives and activities**
The primary objective of the charity, as stated in the constitution, is to advance the education of the public in the areas of Art, Music, Theatre, Writing and Dance.
The overarching aim is to provide general charitable operations, education/training as well as arts/culture and heritage through the provision of the Cheltenham Playhouse and performances. The charity wishes to generally contribute to the well-being of the people of Gloucestershire and beyond by providing opportunities for and facilitating professional, amateur and community events.
The following objectives in the constitution are the foundation of the charity’s strategy ensuring it meets its primary objective:
- to advance public education in the arts of drama, literature, dance, music and singing through the production of plays and other artistic works;
- to promote the provision of recreational facilities and other leisure time occupation for the benefit of the public without distinction of sex, sexual orientation, race or of political, religious, or other opinions by associating together local authorities, voluntary and other organisations in a common effort to provide access to such facilities in the interests of social welfare with the object of improving their conditions of life; and
- to restore and preserve for the benefit of the public, the Playhouse Theatre in Cheltenham being a building of historic architectural heritage and constructional interest.
The primary area of activity is the presentation of stage performances. However, the charity also provides countless other opportunities for users, such as volunteering, rehearsal spaces, support and guidance for a number of small or startup theatre groups.
The trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the charity's aims, objectives and activities remain focussed on its stated purposes.
The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.
## **Achievements and performance**
The charitable activities focus on advancing the education of the public in the subjects of Art, Music, Theatre, Writing and Dance and are undertaken to further The Playhouse Theatre Cheltenham CIO (1196217) charitable purposes for the public benefit.
The Charity, through the varied programme of amateur and professional productions and the maintenance of the historic Playhouse building, has achieved its stated objectives for the charity for the year.
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## The Playhouse Theatre Cheltenham Trustees’ Annual Report for the year ended 31st August 2023
During the Financial Year ending 2023 (September 2022 through to August 2023), approximately 187 (2022: 117) performances (including films) took place, with an estimated attendance of approximately 23,900 (2022: 11,000). These included shows by youth groups, professional companies, charitable events and amateur dramatic voluntary groups. Chris Mystery, our internally produced Christmas show ran for 14 performances and was a great success with 1,462 people attending. This number includes approximately 350 complimentary tickets given to local charities/groups to support low-income families and other in need of support.
Other people making use of the Playhouse Theatre include the resident children's theatre school, Theatre Studio; attendees at ad hoc meetings of local community organisations, room hire for rehearsals of various kinds and volunteers who assist at most productions in front-of-house operations. Many different groups can benefit from all the above activities e.g. school children; young people, elderly/old people, people with disabilities, other charities or voluntary bodies and any member of the general public.
Overall the significant rise in the number of shows and performances reflects a significant achievement. As is evidenced by the considerable uptake in the number of performances and admissions we look forward to carefully continuing to develop our operations with the consequential public benefit.
## **Financial review**
In this second year as a Charitable Incorporated Organisation (CIO), we have built on the progress from last year. It is the first full year of being open following the various Covid closures and our accounts reflect a 12month period this year, rather than late October to August. Turnover relating to theatre activities was £180,019 (2022: £107,890) including £16,358 earned from the hire of other rooms in the Playhouse for rehearsals and various events. Continued improvements in the bars and the service they offer increased the trading turnover to £73,761 (2022: £31,561) The number of paid staff has streamlined the front-of-house and bar operations. A regular duty lead role has further operational consistency in addition to our number of very loyal volunteers still covering the auditorium and bar.
This financial year there has been a continued programme of improvements in the theatre such as improved equipment for sound and staging. These extra costs have resulted in a net loss before investment losses of around £75,000, which represents improvements made to enable an increased use of the theatre in future financial years.
Our plan is to continue to limit the deficit over the next few years by investing in a number of areas, such as equipment, staffing and building maintenance so that we can continue to expand the charity's operations. The main priority for the next few years is to bring the building as a whole up to a more modern standard, in the areas of the auditorium, bars, and toilets. These improvements will allow us to generate greater turnover and increase charitable operations over the future years by becoming a more attractive proposition for hirers both amateur and professional.
During the year we received a very generous £50,000 legacy donation from the estate of Mike Kingston. We were all sorry to hear of Mike’s passing and his much-valued and appreciated contribution to the Playhouse in the past is still remembered. We were honoured to host the wake and extend our condolences and thoughts to his family and friends. This donation has been significant in helping us improve the charity in countless areas and has contributed to our developing charitable growth.
During this, our second year post-COVID we have gone from strength to strength. However, like many of you we face the challenges of steeply rising energy costs. Typical household energy bills increased by 54% in April 2022 and 27% in October 2022. Wholesale prices remain around 59% above their winter 2021/22 levels We are ever grateful for the enduring support of our customers both established and newly acquired. Alongside these day-to-day running costs we have still been doing a lot of retrospective maintenance/work to the building to bring it all up to speed.
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## The Playhouse Theatre Cheltenham Trustees’ Annual Report for the year ended 31st August 2023
Nationally it has been a challenging period for theatres. We believe the end of the current financial year (FY23/24) will mark a turning point in our efforts to bring operations up to a suitable level post-COVID and consequently, develop our financial stability. We are just about to launch our new ‘£80k for 80 years of theatre’ Campaign at the Cheltenham Playhouse, celebrating 80 years since the start of the Playhouse Theatre in Bath Road. We firmly believe that this, in addition to our general investments in the venue, falling energy costs, stabilising staff costs and a busier programme will allow us to manage our overheads and rebuild reserves.
We occupy the theatre premises on a peppercorn rent by agreement with the landlords, while a 35 year lease is in negotiation with the landlords, Cheltenham Borough Council. At the date of this report the lease has not been finalised so no lease commitment is shown in the accounts.
## **Reserves policy**
The aim of the reserves policy is to ensure that the charity’s ongoing and future activities are reasonably protected from unexpected fluctuations in its income and expenditure. The Charity’s Reserves Policy is to hold unrestricted general reserves equal to approximately three months' worth of overheads expenditure.
The board reviewed the reserves policy again during the year and agreed that for this financial year, the charity estimates that approximately £90,000 would cover this based on an approximate cost of £1,000 per day and having allowed for any reduction in show-specific costs. The free reserves at the year-end as shown in the financial statements were £95,353
## **Structure, governance and management**
The organisation is a charitable incorporated organisation and was incorporated and registered as a charity governed by its constitution on 20th October 2021.
The trustees are members of the charity but this entitles them only to voting rights. During the year the charity had two Ex-Officio Trustees, as per the constitution, being the General Manager and Deputy General Manager. They may exercise their own choice whether to take up the role of trustee and the General Manager and CEO resigned as a trustee at the year end. Ex-officio trustees are remunerated for their employed role at the Playhouse and none of their remuneration is attached to their role as Trustees.
Following a formal application or reference Trustees may be appointed by the charity by a majority vote of trustees at a trustee meeting. New trustees have to go through an appointment process and training. This induction is based on their legal obligations, under Charitable and Company law, the constitution, committee and decision-making processes, risk management, strategic plans and financial performance of the charity. General guidance and context is given on day-to-day operations and structure of the charity.
All trustees, excluding the Ex-Officio Trustees, give their time voluntarily and receive no benefits from the charity during the financial year other than as noted in the financial statements. Any expenses reclaimed from the charity are set out in the notes to the financial statements.
The General Manager, who reports directly to the board of trustees, has delegated authority from the trustees to manage and lead a staff team to execute day-to-day operations of the charity including in all key operational areas such as finance, employment and programming.
## **Related parties and relationships with other organisations**
All related party transactions are disclosed in the notes to the financial statements and are paid in accordance with the provisions of the governing document of the charity.
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The Playhouse Theatre Cheltenham Trustees’ Annual Report for the year ended 31st August 2023
## **Funds held as custodian trustee on behalf of others**
No assets or funds are held as a custodian trustee on behalf of others
## **Statement of responsibilities of the trustees**
The trustees (who are also directors of The Playhouse Theatre Cheltenham CIO (1196217) for the purposes of company law) are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing these financial statements, the trustees are required to:
- Select suitable accounting policies and then apply them consistently
- Observe the methods and principles in the Charities SORP
- Make judgements and estimates that are reasonable and prudent
- State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
05 / 07 / 2024 The trustees’ annual report has been approved by the trustees on ………………….. and signed on their behalf by
Maureen Mytton
Chair of Trustees
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The Playhouse Theatre Cheltenham
Independent examiner’s report to the trustees for the year ended 31 August 2023
I report on the accounts of the charity for the year ended 31 August 2023 set out on pages 7 to 18.
## **Respective responsibilities of trustees and examiner**
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (“the Charities Act”) and that an independent examination is needed. The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of The Institute of Chartered Accountants of Scotland.
It is my responsibility to:
- examine the accounts under section 145 of the Charities Act,
- to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
- to state whether particular matters have come to my attention.
## **Basis of independent examiner’s statement**
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
## **Other matters**
Your attention is to drawn to the fact that the charity has prepared the accounts (financial statements) in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
We understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention:
1. which gives me reasonable cause to believe that, in any material respect, the requirements:
- to keep accounting records in accordance with section 130 of the Charities Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met; or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Kate Adderley CA Third Sector Accountancy Limited Holyoake House Hanover Street Manchester, M60 0AS
08 / 07 / 2024
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## The Playhouse Theatre Cheltenham
## Statement of Financial Activities for the year ended 31 August 2023
|Unrestricted
funds
Note
£
**Income from:**
Donations and legacies
3
77,201
Charitable activities
3
261,394
Investment income
4
274
**Total income**
**338,869**
**Expenditure on:**
Raising funds
5
-
Charitable activities
6
414,012
**Total expenditure**
**414,012**
(75,143)
-
7
**(75,143)**
Transfer between funds
-
**Net movement in funds for the year**
**(75,143)**
**Reconciliation of funds**
Total funds brought forward
170,496
**Total funds carried forward**
**95,353**
Net gains/(losses) on investments
**Net income/(expenditure) for the year**
**Net income/(expenditure) before net**
**gains/(losses) on investments**|Restricted
funds
£
-
-
-
**-**
_-_
-
**-**
-
(4,542)
**(4,542)**
-
**(4,542)**
7,630
**3,088**|Total funds
2023
£
77,201
261,394
274
**338,869**
-
414,012
**414,012**
(75,143)
(4,542)
**(79,685)**
-
**(79,685)**
178,126
**98,441**|_Unrestricted_
_funds_
_£_
_11,000_
_142,444_
_6_
**_153,450_**
_2,709_
_124,596_
**127,305**
_26,145_
_-_
**_26,145_**
_-_
**_26,145_**
_144,351_
**_170,496_**|_Restricted_
_funds_
_£_
_21,345_
_-_
_-_
**_21,345_**
_-_
_21,345_
**21,345**
_-_
_(38,220)_
**_(38,220)_**
_-_
**_(38,220)_**
_72,182_
**_33,962_**|_Total funds_
_2022_
_£_
_32,345_
_142,444_
_6_|
|---|---|---|---|---|---|
||||||**_174,795_**|
||||||_2,709_
_145,941_|
||||||**_148,650_**|
||||||_26,145_
_(38,220)_
**_(12,075)_**
_-_|
||||||**_(12,075)_**
_216,533_|
||||||**_204,458_**|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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## The Playhouse Theatre Cheltenham Charity number 1196217
## Balance sheet as at 31 August 2023
|Note
£
£
**Fixed assets**
Tangible assets
12
26,668
Investments
13
3,088
**Total fixed assets**
**29,756**
**Current assets**
Stock
4,076
Debtors
14
4,864
Cash at bank and in hand
87,834
**Total current assets**
**96,774**
**Liabilities**
Creditors: amounts falling
due in less than one year
15
(28,089)
**Net current assets**
**68,685**
**Total assets less current liabilities**
98,441
**Net assets**
**98,441**
**The funds of the charity:**
Restricted income funds
16
3,088
Unrestricted income funds
17
95,353
**Total charity funds**
**98,441**
2023|_£_
_£_
_9,618_
_7,630_
**_17,248_**
_5,363_
_6,635_
_162,543_
**_174,541_**
_(13,663)_
**_160,878_**
_178,126_
**_178,126_**
_7,630_
_170,496_
**_178,126_**
_2022_|_£_
_£_
_9,618_
_7,630_
**_17,248_**
_5,363_
_6,635_
_162,543_
**_174,541_**
_(13,663)_
**_160,878_**
_178,126_
**_178,126_**
_7,630_
_170,496_
**_178,126_**
_2022_|
|---|---|---|
|||**_17,248_**
**_160,878_**|
|||_178,126_|
|||**_178,126_**|
|||_7,630_
_170,496_|
|||**_178,126_**|
For the year in question, the charity was entitled to exemption from an audit under section 144 of the Charities Act 2011. The Charity Commission has not ordered an audit to be carried out under Section 146 of Charities Act 2011.
The notes on pages 9 to18 form part of these accounts.
05 / 07 / 2024
Approved by the trustees on __________________ and signed on their behalf by:
Maureen Mytton, Chair of Trustees
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The Playhouse Theatre Cheltenham
Notes to the accounts for the year ended 31 August 2023
## **1 Accounting policies**
The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## **a Basis of preparation**
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 - (Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Playhouse Theatre Cheltenham meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.
## **b Preparation of the accounts on a going concern basis**
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
## **c Income**
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Income received in advance of a provision of a specified service is deferred until the criteria for income recognition are met.
## **d Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
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The Playhouse Theatre Cheltenham
Notes to the accounts for the year ended 31 August 2023 (continued)
## **e Fund accounting**
Unrestricted funds are available to spend on activities that further any of the purposes of charity.
Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.
Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.
## **f Expenditure and irrecoverable VAT**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
- Expenditure on charitable activities includes the costs of activities undertaken to further the purposes of the charity.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
## **g Operating leases**
Operating leases are leases in which the title to the assets, and the risks and rewards of ownership, remain with the lessor. Rental charges are charged on a straight line basis over the term of the lease.
## **h Tangible fixed assets**
Individual fixed assets costing £500 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows:
Fixtures, fittings and equipment 15-33%
## **i Fixed asset investments**
Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.
The Charity does not acquire put options, derivatives or other complex financial instruments.
The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.
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The Playhouse Theatre Cheltenham
Notes to the accounts for the year ended 31 August 2023 (continued)
## **j Stock**
Stock is included at the lower of cost or net realisable value. In general, cost is determined on a first in, first out basis. Net realisable value is the price at which stocks can be sold in the normal course of business after allowing for the costs of realisation. Provision is made where necessary for obsolete, slow moving, and defective stocks. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
## **k Debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **l Cash at bank and in hand**
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **m Creditors and provisions**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## **n Financial instruments**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **o Pensions**
Employees of the charity are entitled to join a defined contribution ‘money purchase’ scheme. The charity’s contribution is restricted to the contributions disclosed in note 8. There were no outstanding contributions at the year end.
## **2 Legal status of the charity**
The charity is a Charitable Incorporated Organisation registered with the Charity Commisssion in the United Kingdom (England and Wales) and has no share capital. In the event of the charity being wound up, the members of the CIO have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.
The charity was formed by way of a merger with registered charity number 1088889, The Playhouse Theatre Cheltenham. The effective date of the merger was 9 November 2021 when the assets of the former charity were transferred to the CIO.
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## The Playhouse Theatre Cheltenham
Notes to the accounts for the year ended 31 August 2023 (continued)
## **3 Income from donations and legacies**
|Donations and legacies
Grants
Arts Council England - Theatre connect
Arts Council England - Restart
**Total**
**3**
**Income from charitable activities**
Theatre activities
Bar income
Grants - Omicron
Other income
**Total**|Unrestricted
£
77,201
-
-
-
77,201
Unrestricted
£
180,019
73,761
-
7,614
261,394|Restricted
£
-
-
-
-
-
Restricted
£
-
-
-
-
-|Total 2023
£
77,201
-
-
-
77,201
Total 2023
£
180,019
73,761
-
7,614
261,394|_Unrestricted_
_£_
_7,000_
_4,000_
_-_
_-_
_11,000_
_Unrestricted_
_£_
_107,890_
_31,561_
_2,667_
_326_
142,444|_Restricted_
_£_
_-_
_-_
_4,935_
_16,410_
_21,345_
_Restricted_
_£_
_-_
_-_
_-_
_-_
-|_Total 2022_
_£_
7,000
4,000
4,935
16,410|
|---|---|---|---|---|---|---|
|||||||_32,345_|
|||||||_Total 2022_
_£_
_107,890_
_31,561_
_2,667_
_326_|
|||||||142,444|
## **4 Investment income**
All of the charity's investment income arises from money held in interest bearing deposit accounts. All investment income is unrestricted.
## **5 Cost of raising funds**
|Fundraising dinner|Unrestricted
£
-
-|Restricted
£
-
-|2023
£
-
-|_Unrestricted_
_£_
_2,709_
_2,709_|_Restricted_
_£_
_-_
_-_|_2022_
_£_
_2,709_|
|---|---|---|---|---|---|---|
|||||||_2,709_|
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The Playhouse Theatre Cheltenham
## Notes to the accounts for the year ended 31 August 2023 (continued)
## **6 Analysis of expenditure on charitable activities**
|Wages and salaries
Employer NI
Employer pension
Bank charges
Accountancy fees
Rates
Insurance
Heat light and water
Telephone and internet
Printing postage and stationery
Project account sundries
Repairs, maintenance and risk
Administrative expenses
Production costs
Advertising and marketing
Project costs
Bar cost of sales
Licensing
Depreciation
Restricted expenditure
Unrestricted expenditure
**7**
**Net income/(expenditure) for the year**
This is stated after charging/(crediting):
Depreciation
**8**
**Staff costs**
Staff costs during the year were as follows:
Wages and salaries
Employer NI
Pension costs
Independent examiner's fee|2023
£
187,681
7,056
14,899
2,037
1,660
112
7,506
25,964
1,138
2,475
27,133
14,359
22,874
48,256
2,111
39,132
4,346
5,273
414,012
-
414,012
414,012
2023
£
5,273
300
2023
£
187,681
7,056
14,899
209,636|_2022_
_£_
78,405
-
927
2,149
1,845
234
5,007
12,637
1,517
1,526
-
11,865
7,266
1,799
4,930
3,001
10,075
150
2,608|
|---|---|---|
|||_145,941_|
|||_21,345_
_124,596_|
|||_145,941_|
|||_2022_
_£_
_2,608_
_300_|
|||_2022_
_£_
_78,405_
_-_
_927_|
|||_79,332_|
**13**
Doc ID: 16dd51f7cb2eea8332347ee9c63b85f67da4deb4
The Playhouse Theatre Cheltenham
Notes to the accounts for the year ended 31 August 2023 (continued)
## **Staff costs continued**
No employee has employee benefits in excess of £60,000 (2022: Nil).
The average number of staff employed during the period was 13 (2022: 4).
The key management personnel of the charity comprise the trustees, the general manager and the deputy general manager. The total employee benefits of the key management personnel of the charity were £77,411 (2022: £25,350).
## **9 Trustee remuneration and expenses, and related party transactions**
The general manager and deputy general manager who, as dictated by the charity's constitution, are ex-officio trustees, received remuneration and benefits in the year for their employment duties. Whilst in post, K Milsom received remuneration of £56,553 (2022: £9,920) and M Henley received remuneration of £20,256 (2022: Paul Scott £13,563).
The general manager charged the charity a total of £17,449 for provision of theatrical equipment as a contractor, on normal commerical terms. Of this total £6,240 remains unpaid by the charity by agreement.
Trustees were paid for professional services at normal or below commercial rates, and for repayment of expenses, as follows:
M Mytton: paid for professional administrative work £603 as an employee and £1,525 as a contractor (2022: £nil). She was paid £298 for expenses reimbursed.
K Mortell: reimbursed £1,783 for theatre production expenses and £100 for travel expenses
N Tivnann: paid £286 through payroll as a casual employee and reimbursed £843 for expenses incurred re work on office refurbishment.
M Nolan: paid £1,045 for professional work re brochure and set/lighting design as an employee whilst serving as a trustee.
T Rolt: paid £365 through payroll as a casual employee, and reimbursed £3,174 re work on office refurbishment, whilst serving as a trustee.
No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity, including guarantees, during the year other than as mentioned above.
## **Donations from related parties:**
M Nolan, a trustee from October 2021 until his resignation in December, put on a Musical Night at the Playhouse and donated part of the proceeds to the Playhouse.
There were no donations from related parties which are outside the normal course of business and no restricted donations from related parties
## **10 Government grants**
The government grants recognised in the accounts were as follows:
|Arts Council England
Cheltenham Borough Council|2023
£
-
-
-|_2022_
_£_
_21,345_
_2,667_|
|---|---|---|
|||_24,012_|
**14**
Doc ID: 16dd51f7cb2eea8332347ee9c63b85f67da4deb4
The Playhouse Theatre Cheltenham
Notes to the accounts for the year ended 31 August 2023 (continued)
## **11 Corporation tax**
The charity is exempt from tax on income and gains falling within Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.
|**12**
**Fixed assets: tangible assets**
**Cost**
Additions
**Depreciation**
Charge for the year
**Net book value**
**13**
**Investments**
Add net gain/(loss) on revaluation
Investments at fair value comprised:
Equities
At 31 August 2023
_At 31 August 2022_
Market value at the start of the year
Market value at the end of the year
At 31 August 2023
At 1 September 2022
At 31 August 2023
At 1 September 2022|2023
£
7,630
(4,542)
3,088
3,088|Fixtures,
fittings and
equipment
£
88,263
22,323|
|---|---|---|
|||110,586|
|||78,645
5,273|
|||83,918|
|||26,668|
|||_9,618_|
|||_2022_
_£_
_72,182_
_(64,552)_|
|||_7,630_|
||||
|||_7,630_|
Investments are all carried at fair value and are all traded in quoted public markets.
## **14 Debtors**
|Trade debtors
Wages payable
VAT
Prepayments and accrued income|2023
£
2,428
-
1,240
1,196
4,864|_2022_
_£_
_1,575_
_442_
_1,098_
_3,520_|
|---|---|---|
|||_6,635_|
**15**
Doc ID: 16dd51f7cb2eea8332347ee9c63b85f67da4deb4
The Playhouse Theatre Cheltenham
## Notes to the accounts for the year ended 31 August 2023 (continued)
## **15 Creditors: amounts falling due within one year**
|Trade creditors
Other creditors and accruals
Taxation and social security costs|2023
£
10,828
13,858
3,403
28,089|_2022_
_£_
_5,156_
_6,660_
_1,847_|
|---|---|---|
|||_13,663_|
## **16 Analysis of movements in restricted funds**
|Project Playhouse
Total
**_Comparative period_**
_Project Playhouse_
_Restart Project_
_Total_
_Theatre Connect_
_Project_|Balance at 1
September
2022
£
7,630
-
7,630
_Balance at 1_
_November_
_2021_
_£_
_72,182_
_-_
_-_
_72,182_|Income
£
-
-
_Income_
_£_
_-_
_4,935_
_16,410_
_21,345_|£
(4,542)
(4,542)
_£_
_(64,552)_
_(4,935)_
_(16,410)_
_(85,897)_
_Expenditure_
Expenditure|Transfers
£
-
-
-
_Transfers_
_£_
_-_
_-_
_-_
_-_|Balance at
31 August
2023
£
3,088
-|
|---|---|---|---|---|---|
||||||3,088|
||||||_Balance at_
_31 August_
_2022_
_£_
_7,630_
_-_
_-_|
||||||_7,630_|
## **Name of restricted fund Description, nature and purposes of the fund**
Project Playhouse Donated shares restricted to the Project Playhouse project.
**16**
Doc ID: 16dd51f7cb2eea8332347ee9c63b85f67da4deb4
The Playhouse Theatre Cheltenham
## Notes to the accounts for the year ended 31 August 2023 (continued)
## **17 Analysis of movement in unrestricted funds**
|**_Comparative period_**
_General fund_
**_Designated funds:_**
General fund
**Designated funds:**
Improvement fund
_Improvement fund_
_Heritage fund_|Balance at 1
September
2022
£
110,496
60,000
170,496
_Balance at 1_
_November_
_2021_
_£_
_47,744_
_56,607_
_40,000_
_144,351_|Income
£
338,869
-
338,869
_Income_
_£_
_153,450_
_-_
_-_
_153,450_|Expenditure
£
(414,012)
-
(414,012)
_Expenditure_
_£_
_(127,305)_
_-_
_-_
_(127,305)_|Transfers
£
60,000
(60,000)
-
_Transfers_
_£_
_36,607_
_3,393_
_(40,000)_
_-_|As at 31 August
2023
£
95,353
-|
|---|---|---|---|---|---|
||||||95,353|
||||||_As at 31_
_August 2022_
_£_
_110,496_
_60,000_
_-_|
||||||_170,496_|
## **Name of**
## **unrestricted fund Description, nature and purposes of the fund**
- General fund The free reserves after allowing for all designated funds
- Improvement fund Funds reserved in previous years for building maintenance and improvements. The fund was transferred to the general fund in the year in recognition of repair and renovation expenditure.
Heritage fund Funds set aside to match with other heritage funding as part of a larger 'Project Playhouse' to renovate the building. Project did not proceed so funds were transferred in the previous year.
## **18 Analysis of net assets between funds**
|Tangible fixed assets
Fixed asset investments
Net current assets/(liabilities)
Total|General
fund
£
26,668
-
174,964
201,632|Designated
funds
£
-
-
-
-|Restricted
funds
£
-
109,367
(106,279)
3,088|Total 2023
£
26,668
3,088
68,685|
|---|---|---|---|---|
|||||98,441|
**17**
Doc ID: 16dd51f7cb2eea8332347ee9c63b85f67da4deb4
## The Playhouse Theatre Cheltenham
## Notes to the accounts for the year ended 31 August 2023 (continued)
## **Analysis of net assets between funds continued Comparative period**
|**Analysis of net assets between funds**
**Comparative period**|**continued**||||
|---|---|---|---|---|
|_Tangible fixed assets_
_Fixed asset investments_
_Net current assets/(liabilities)_
_Total_|_General_
_fund_
_£_
_9,618_
_-_
_(61,988)_
_(52,370)_|_Designated_
_funds_
_£_
_-_
_-_
_60,000_
_60,000_|_Restricted_
_funds_
_£_
_-_
_7,630_
_162,866_
_170,496_|_Total 2022_
_£_
_9,618_
_7,630_
_160,878_|
|||||_178,126_|
**18**
Doc ID: 16dd51f7cb2eea8332347ee9c63b85f67da4deb4