Charity registration number: 1205488
## Worthing Musical Theatre Company
Annual Report and Financial Statements
for the Year Ended 31 May 2025
## **Worthing Musical Theatre Company**
## **Contents (continued)**
|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2 to 4|
|Statement of Trustees' Responsibilities|5|
|Independent Examiner's Report|6|
|Statement of Financial Activities|7|
|Balance Sheet|8|
|Notes to the Financial Statements|9 to 14|
## **Worthing Musical Theatre Company**
## **Reference and Administrative Details**
**Chairman** Mr P Davis **Trustees** K Hartry L Juniper-Palmer J O'Brien M Simpson Mr W Barber A Martiin N Taw **Charity Registration Number** 1205488 **Principal Office** 11 Snapdragon Lane Worthing West Sussex BN13 3GJ **Independent Examiner** Streets (West Sussex) Limited Wiston House 1 Wiston Avenue Worthing West Sussex BN14 7QL
Page 1
## **Worthing Musical Theatre Company**
## **Trustees' Report**
The trustees present the annual report together with the financial statements of the charity for the year ended 31 May 2025.
## **Objectives and activities**
## _**Objects and aims**_
To educate the public in the dramatic and operatic arts and to further the development of the public appreciation and taste in said arts. The charity presents dramatic performances in Worthing.
## _**Public benefit**_
WMTC produces two musicals each year and invites new members to audition to continue the growth of the charity.
The charity have expanded to include children in their shows to promote and educate in the arts in Worthing area.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
## **Achievements and performance**
Both shows during this period were a success. The first show, Kinky Boots, was a promotion of the LGBTQ+ community and saw the inclusion of a wide range of performers.
Our second show saw the inclusion of a youth cast which aligns with our aim to educate and promote the arts with future generations.
## **Financial review**
As of 31 May 2025, Worthing Musical Theatre Company holds unrestricted reserves of £70,110 .
## _**Policy on reserves**_
All surpluses are held in reserve to cover up front costs of the next show and further the betterment of the charity. Worthing Musical Theatre Company’s reserves policy requires that reserves be maintained at a level which ensures that Worthing Musical Theatre Company’s core activity can continue during a period of unforeseen difficulty, and that the calculation of the required level of reserves is an integral part of the charity’s planning, budget and forecast cycle. To this end, Worthing Musical Theatre Companys aims to accumulate reserves equal to three to six months unrestricted expenditure.
Running costs for the charity are approximately £7,100 per month, therefore our reserves target is between £21,300 to £42,600. At 31 May 2025 the free reserves were £70,110 which represents 9 months running costs.
Page 2
## **Worthing Musical Theatre Company**
## **Trustees' Report (continued)**
## **Going concern**
The Trustees have assessed the charity's financial position and its ability to continue operating for the forseeable future. They have a reasonable expectation that the charity has adequate resources to continue in operational existence for at least 12 months from the date of approval of these financial statements.
Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
In making this assessment, the Trustees have considered the charity's current reserves, expected income, planned expenditure, and any potential risks that could impact the charity's activities and funding. Contingency plans are in place to manage financial risks should they arise.
## **Trustees and officers**
The trustees and officers serving during the year and since the year end were as follows:
Trustees: K Hartry (appointed 30 April 2025) L Juniper-Palmer J O'Brien M Simpson (appointed 24 July 2025) Mr W Barber (appointed 24 July 2025) A Martiin N Taw (appointed 24 July 2025) Chairman: Mr P Davis (appointed 26 February 2025)
## **Structure, governance and management**
## _**Nature of governing document**_
Worthing Musical Theatre Company is a Charitable Incorporated Organisation registered on 30 October 2023 with the Charity Commission of England and Wales (no.1205488)
## _**Recruitment and appointment of trustees**_
The roles of Chairman, Treasurer and Secretary are elected by proposal and seconded approval at the AGM. Further trustees are also elected in the same way with roles agreed at the first trustee meeting following the AGM.
## _**Induction and training of trustees**_
Potential trustees are selected on the basis of their personal qualities and the complex issues involved. A speciality linking to charity needs is also sought. New trustees are made familiar with the charity vision, operation and goals by dialogue with existing personnel and provision of minutes and other literature pertaining to charity activity.
All trustees are already familiar with the practical work of the charity. New trustees are encouraged to attend all management committee meetings. Short training sessions (if required) to familiarise new trustees with the charity and the context within which it operates are provided.
The annual report was approved by the trustees of the charity on 29 May 2026 and signed on its behalf by:
Page 3
## **Worthing Musical Theatre Company**
## **Trustees' Report (continued)**
......................................... Mr P Davis Chairman
Page 4
## **Worthing Musical Theatre Company**
## **Statement of Trustees' Responsibilities**
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities 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 charity and of the incoming resources and application of resources of the charity 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 accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- 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 that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees 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.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the trustees of the charity on 29 May 2026 and signed on its behalf by:
......................................... Mr P Davis Chairman
Page 5
## **Worthing Musical Theatre Company**
## **Independent Examiner's Report to the trustees of Worthing Musical Theatre Company**
I report to the trustees on my examination of the accounts of Worthing Musical Theatre Company for the year ended 31 May 2025.
## **Responsibilities and basis of report**
As the charity trustees of Worthing Musical Theatre Company you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Worthing Musical Theatre Company's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all 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 material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of Worthing Musical Theatre Company as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting 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.
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.
...................................... Rachel Skells BA BFP FCA ICAEW
Wiston House 1 Wiston Avenue Worthing West Sussex BN14 7QL
29 May 2026
Page 6
## **Worthing Musical Theatre Company**
## **Statement of Financial Activities for the Year Ended 31 May 2025**
|**Note**
**Income and Endowments from:**
Donations and legacies
Charitable activities
Investment income
4
Total income
**Expenditure on:**
Charitable activities
Total expenditure
Net income
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
13
**Note**
**Income and Endowments from:**
Donations and legacies
Charitable activities
Investment income
4
Total income
**Expenditure on:**
Charitable activities
Total expenditure
Net income
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
13|**Unrestricted**
**funds**
**£**
7,036
98,630
489
106,155
(85,528)
(85,528)
20,627
20,627
49,483
70,110
**Unrestricted**
**funds**
**£**
2,849
72,048
167
75,064
(67,893)
(67,893)
7,171
7,171
42,312
49,483|**Total**
**2025**
**£**
7,036
98,630
489|
|---|---|---|
|||106,155|
|||(85,528)|
|||(85,528)|
|||20,627|
|||20,627
49,483|
|||70,110|
|||**Total**
**2024**
**£**
2,849
72,048
167|
|||75,064|
|||(67,893)|
|||(67,893)|
|||7,171|
|||7,171
42,312|
|||49,483|
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2024 is shown in note 13.
The notes on pages 9 to 14 form an integral part of these financial statements. Page 7
## **Worthing Musical Theatre Company**
## **(Registration number: 1205488) Balance Sheet as at 31 May 2025**
|**Note**
**Current assets**
Debtors
10
Cash at bank and in hand
11
**Creditors: Amounts falling due within one year**
12
**Net assets**
**Funds of the charity:**
**Unrestricted income funds**
Unrestricted funds
**Total funds**
13|**2025**
**£**
5,045
72,076
77,121
(7,011)
70,110
70,110
70,110|**2024**
**£**
3,854
46,166|
|---|---|---|
|||50,020
(537)|
|||49,483|
|||49,483|
|||49,483|
The financial statements on pages 7 to 14 were approved by the trustees, and authorised for issue on 29 May 2026 and signed on their behalf by:
......................................... Mr P Davis Chairman
The notes on pages 9 to 14 form an integral part of these financial statements. Page 8
## **Worthing Musical Theatre Company**
## **Notes to the Financial Statements for the Year Ended 31 May 2025**
## **Charity status**
The charity is a Charitable Incorproated Organisation (CIO) and consequently does not have a share capital.
## **1 Accounting policies**
## **Statement of compliance**
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
## **Basis of preparation**
Worthing Musical Theatre Company meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
## **Going concern**
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
## **Income**
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
## _**Donations and legacies**_
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
## _**Investment income**_
Investment income comprises interest receivable from bank deposits and similar income.
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
## _**Charitable activities**_
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Page 9
## **Worthing Musical Theatre Company**
## **Notes to the Financial Statements for the Year Ended 31 May 2025 (continued)**
## **Governance costs**
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including strategic management and trustees meetings and reimbursed expenses.
## **Taxation**
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash on hand and bank deposits.
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
## **Financial instruments**
## _**Classification**_
The company 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.
## **2 Income from donations and legacies**
|Donations and legacies;
Donations from individuals
Regular giving and capital donations
**Total for 2025**
**Total for 2024**
**3**
**Income from charitable activities**
Shows|**Unrestricted**
**funds**
**General**
**£**
5,183
1,853
7,036
2,849
**Unrestricted**
**funds**
**General**
**£**
98,630|**Total**
**funds**
**£**
5,183
1,853|
|---|---|---|
|||7,036|
|||2,849|
|||**Total**
**2025**
**£**
98,630|
Page 10
## **Worthing Musical Theatre Company**
## **Notes to the Financial Statements for the Year Ended 31 May 2025 (continued)**
|Shows
**4**
**Investment income**
Interest receivable and similar income;
Interest receivable on bank deposits
**Total for 2025**
**Total for 2024**
**5**
**Expenditure on charitable activities**
Shows and performances
Shows and performances
**6**
**Analysis of governance and support costs**
**Governance costs**
Independent examiner fees
Examination of the financial statements
Legal fees
Other governance costs
**Total for 2025**
**Total for 2024**
Page 11|**Unrestricted**
**funds**
**General**
**£**
72,048
**Unrestricted**
**funds**
**General**
**£**
489
489
167
**Activity**
**undertaken**
**directly**
**£**
83,630
**Activity**
**undertaken**
**directly**
**£**
66,839
**Unrestricted**
**funds**
**General**
**£**
1,500
319
79
1,898
1,054|**Total**
**2024**
**£**
72,048|
|---|---|---|
|||**Total**
**funds**
**£**
489|
|||489|
|||167|
|||**2025**
**£**
83,630|
|||**2024**
**£**
66,839|
|||**Total**
**funds**
**£**
1,500
319
79|
|||1,898|
|||1,054|
||||
## **Worthing Musical Theatre Company**
## **Notes to the Financial Statements for the Year Ended 31 May 2025 (continued)**
## **7 Trustees remuneration and expenses**
During the year the charity made the following transactions with trustees:
During the year trustees were reimbursed expenses totalling £890 for props, advertising and office expenses. No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any other benefits from the charity during the year.
## **8 Independent examiner's remuneration**
Examination of the financial statements
**----- Start of picture text -----**
2025
£
1,500
**----- End of picture text -----**
Page 12
## **Worthing Musical Theatre Company**
## **Notes to the Financial Statements for the Year Ended 31 May 2025 (continued)**
## **9 Taxation**
The charity is a registered charity and is therefore exempt from taxation.
## **10 Debtors**
|Prepayments
Other debtors
**11 Cash and cash equivalents**
Cash at bank
Short-term deposits
**12 Creditors: amounts falling due within one year**
Other creditors
Accruals
**13 Funds**
**Balance at 1**
**June 2024**
**£**
**Unrestricted funds**
General
49,483
**Balance at 1**
**June 2023**
**£**
**Unrestricted funds**
General
42,312|**Incoming**
**resources**
**£**
106,155
**Incoming**
**resources**
**£**
75,064|**2025**
**£**
1,595
3,450
5,045
**2025**
**£**
9,369
62,707
72,076
**2025**
**£**
499
6,512
7,011
**Resources**
**expended**
**£**
(85,528)
**Resources**
**expended**
**£**
(67,893)|**2024**
**£**
109
3,745|
|---|---|---|---|
||||3,854|
||||**2024**
**£**
11,949
34,217|
||||46,166|
||||**2024**
**£**
149
388|
||||537|
||||**Balance at 31**
**May 2025**
**£**
70,110|
||||**Balance at 31**
**May 2024**
**£**
49,483|
Page 13
## **Worthing Musical Theatre Company**
## **Notes to the Financial Statements for the Year Ended 31 May 2025 (continued)**
## **14 Analysis of net assets between funds**
|**14 Analysis of net assets between funds**|||
|---|---|---|
|Current assets
Current liabilities
Total net assets
Current assets
Current liabilities
Total net assets|**Unrestricted**
**funds**
**General**
**£**
77,121
(7,011)
70,110
**Unrestricted**
**funds**
**General**
**£**
50,020
(537)
49,483|**Total funds at**
**31 May**
**2025**
**£**
77,121
(7,011)|
|||70,110|
|||**Total funds at**
**31 May**
**2024**
**£**
50,020
(537)|
|||49,483|
## **15 Related party transactions**
There were no related party transactions in the year.
Page 14
## **Worthing Musical Theatre Company**
## **Statement of Financial Activities by fund for the Year Ended 31 May 2025**
|**Income and Endowments from:**
Donations and legacies
Charitable activities
Investment income
Total income
**Expenditure on:**
Charitable activities
Total expenditure
Net income
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward|**Total**
**Unrestricted**
**Funds**
**2025**
**£**
7,036
98,630
489
106,155
(85,528)
(85,528)
20,627
20,627
49,483
70,110|**Total**
**Unrestricted**
**Funds**
**2024**
**£**
2,849
72,048
167|
|---|---|---|
|||75,064|
|||(67,893)|
|||(67,893)|
|||7,171|
|||7,171
42,312|
|||49,483|
This page does not form part of the statutory financial statements. Page 15
## **Worthing Musical Theatre Company**
## **Detailed Statement of Financial Activities for the Year Ended 31 May 2025**
|**Income and Endowments from:**
Donations and legacies (analysed below)
Charitable activities (analysed below)
Investment income (analysed below)
Total income
**Expenditure on:**
Charitable activities (analysed below)
Total expenditure
Net income
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward|**Total**
**2025**
**£**
7,036
98,630
489
106,155
(85,528)
(85,528)
20,627
20,627
49,483
70,110|**Total**
**2024**
**£**
2,849
72,048
167|
|---|---|---|
|||75,064|
|||(67,893)|
|||(67,893)|
|||7,171|
|||7,171
42,312|
|||49,483|
This page does not form part of the statutory financial statements. Page 16
## **Worthing Musical Theatre Company**
## **Detailed Statement of Financial Activities for the Year Ended 31 May 2025 (continued)**
|**_Donations and legacies_**
Appeals and donations
Subscriptions
**_Charitable activities_**
Shows
**_Investment income_**
Interest on cash deposits
**_Charitable activities_**
Direct costs
Insurance
Computer software and maintenance costs
Printing, postage and stationery
Sundry expenses
Advertising
Insurance
Trade subscriptions
Independent examiner's fee
Legal and professional fees
Bank charges|**Total**
**2025**
**£**
5,183
1,853
7,036
98,630
98,630
489
489
(79,452)
(1,197)
(411)
(609)
(629)
(1,332)
-
-
(1,500)
(319)
(79)
(85,528)|**Total**
**2024**
**£**
515
2,334|
|---|---|---|
|||2,849|
|||72,048|
|||72,048|
|||167|
|||167|
|||(66,274)
-
-
(228)
(337)
-
(809)
(245)
-
-
-|
|||(67,893)|
This page does not form part of the statutory financial statements. Page 17