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2021-07-31-accounts

REGISTERED COMPANY NUMBER: 00410481 (England and Wales) REGISTERED CHARITY NUMBER: 208710

ELTHAM LITTLE THEATRE LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

Berringers LLP Chartered Accountants Lygon House 50 London Road Bromley Kent BR1 3RA

ELTHAM LITTLE THEATRE LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31 July 2021

Page
Trustees' report 1 to 3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6 to 7
Notes to the financial statements 8 to 16

ELTHAM LITTLE THEATRE LIMITED (REGISTERED NUMBER: 00410481)

TRUSTEES' REPORT for the year ended 31 July 2021

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 July 2021. The trustees have adopted the provisions of 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) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The purposes of the charity are as follows;

Significant activities

The charily undertakes various fundraising activities in order to raise additional income to keep ticket prices to a minimum.

In order to achieve the objectives of the charity the trustees have employed the following strategies;

Through our strategies we endeavour to encourage all within the local community to take part in and benefit from activities.

Public benefit

In reviewing our objectives for the current year the trustees have considered the Charity Commissions guidance on public benefit and fee charging. The theatre relies significantly on the income from ticket sales to cover its operating costs and maintenance of the theatre, however the trustees give careful consideration to those on low income when setting the level of ticket prices, concessions and all off peak discounts.

The Charity also undertakes various fundraising activities in order to raise additional income to keep ticket prices to a minimum.

Volunteers

The charity is totally dependant on the services of volunteers except for the clerical officers and cleaner.

FINANCIAL REVIEW

Investment policy and objectives

It is the policy of the charity to utilise a majority of the incoming resources in the short term for the furtherance of the charity's objectives, as a result there are a few funds for new long term investment. The charity does own the freehold of the theatre which ties up most of the available reserves of the charity. This is maintained to a high standard in order to preserve and enhance the value of this investment.

Results

During the year theatre production income amounted to £190 a decrease of £69,860 from 2020. Lettings income has decreased by £15,743 from £15,993 in 2020 to £250 in 2021, largely due to the theatre being shut from August to July 2021 because of the Covid-19 pandemic. The deficit for the year amounted to £26,227 (2020: £11,302), but this is after deducting depreciation charges of £39,830 (2020: £35,196).

Going concern

Despite the Covid-19 pandemic, the trustees consider the charity to be a going concern due to the fact there is approximately £42,000 in the bank at the year end and expenditure is being kept to a minimum. The theatre reopened in August 2021 and has shows lined up for the rest of the year and into 2022.

Page 1

ELTHAM LITTLE THEATRE LIMITED (REGISTERED NUMBER: 00410481)

TRUSTEES' REPORT for the year ended 31 July 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Eltham Little Theatre Limited is a company Limited by Guarantee (company number 410481) and a registered charity (charity number 208710). The company was incorporated on 14 May 1946 under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association, as amended 22 June 1949, 20 June 1988, 23 October 2000, 24 September 2003 and 3 October 2005.

Recruitment and appointment of new trustees

The directors of the charitable company (''the Charity'') are its trustees for the purpose of Charity Law and are represented by the Chairman, Treasurer and Secretary of the board of management. As set out in the Articles of Association, if there is at any time a vacancy in the membership a new member may be appointed by the members in a general meeting.

Organisational structure

The Charity's board of management is currently made up of 10 members who meet regularly and are responsible for deciding the strategic policy and direction of the charity.

There is a scheme of delegation in place whereby the day to day responsibility for the charity and the responsibility for ensuring the long term objectives are met rests with the Chairman, Treasurer and Secretary.

Induction and training of new trustees

Most new members of the board of management are already familiar with the practical work of the charity, having been involved with it for a number of years. They also undergo a short training session whereby they are familiarised with; the obligations of the board of management, the main documents which set out the operational framework of the charity including the memorandum and article, the current financial position and future plans and objectives.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

00410481 (England and Wales)

Registered Charity number

208710

Registered office

Wythfield Road Eltham London SE9 5TG

Trustees

I C Hamilton Retired Mrs J M Sims Retired Mrs C Williams Educationalist

Company Secretary

Mrs C Williams

Independent Examiner

Paul Allan BSocSc FCA Berringers LLP Chartered Accountants Lygon House 50 London Road Bromley Kent BR1 3RA

Page 2

ELTHAM LITTLE THEATRE LIMITED (REGISTERED NUMBER: 00410481)

TRUSTEES' REPORT for the year ended 31 July 2021

REFERENCE AND ADMINISTRATIVE DETAILS Members of Board of Management

J Sims Chairman I Hamilton Treasurer C Williams Secretary A Basley J Shepherd J Goodwin A Ingram T Parker D Hinchley-Robson D Barefoot

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 20 September 2021 and signed on its behalf by:

I C Hamilton - Trustee

Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ELTHAM LITTLE THEATRE LIMITED

Independent examiner's report to the trustees of Eltham Little Theatre Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2021.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Paul Allan BSocSc FCA Berringers LLP Chartered Accountants Lygon House 50 London Road Bromley Kent BR1 3RA

20 September 2021

Page 4

ELTHAM LITTLE THEATRE LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) for the year ended 31 July 2021

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
5
Fundraising
Subscriptions
Charitable activities
Other trading activities
3
Investment income
4
Total
EXPENDITURE ON
Charitable activities
6
Charitable activities
Other
8
Total
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
92,534
-
185
255
-
7
92,981
55,068
64,140
119,208
(26,227)
1,248,994
1,222,767		 Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-
-
-		 2021
Total
funds
£
92,534
-
185
255
-
7
92,981
55,068
64,140
119,208
(26,227)
1,248,994
1,222,767		 2020
Total
funds
£
26,621
2,527
2,490
83,553
19,355
136
134,682
83,982
62,002
145,984
(11,302)
1,260,296
1,248,994

The notes form part of these financial statements

Page 5

ELTHAM LITTLE THEATRE LIMITED (REGISTERED NUMBER: 00410481)

BALANCE SHEET 31 July 2021

Notes
FIXED ASSETS
Tangible assets
13
CURRENT ASSETS
Stocks
14
Debtors
15
Cash at bank and in hand
16
CREDITORS
Amounts falling due within one year
17
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
18
Unrestricted funds
TOTAL FUNDS		 Unrestricted
funds
£
1,190,027
500
23,648
42,304
66,452
(33,712)
32,740
1,222,767
1,222,767		 Restricted
fund
£
-
-
-
-
-
-
-
-
-		 2021
Total
funds
£
1,190,027
500
23,648
42,304
66,452
(33,712)
32,740
1,222,767
1,222,767
1,222,767
1,222,767		 2020
Total
funds
£
1,158,748
1,379
366
94,689
96,434
(6,188)
90,246
1,248,994
1,248,994
1,248,994
1,248,994

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

Page 6

continued...

ELTHAM LITTLE THEATRE LIMITED (REGISTERED NUMBER: 00410481)

BALANCE SHEET - continued 31 July 2021

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 20 September 2021 and were signed on its behalf by:

J M Sims - Trustee

I C Hamilton - Trustee

The notes form part of these financial statements

Page 7

ELTHAM LITTLE THEATRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 July 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on the historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Going concern

The trustees have reasonable expectation, giving consideration to the worldwide coronavirus pandemic (COVID 19), that the charity has adequate resources to continue for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - Straight line over 50 years Improvements to property - 10% - 20% on cost Plant and machinery - 7.5% on reducing balance Fixtures and fittings - 7.5% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

continued...

Page 8

ELTHAM LITTLE THEATRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 July 2021

1. ACCOUNTING POLICIES - continued

Fund accounting

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2.

DONATIONS AND LEGACIES

DONATIONS AND LEGACIES
2021 2020
£ £
Donations and grants 92,534 26,621

Included in donations is £25,572 from Greenwich Council and £65,891 from The Arts Council in respect of COVID-19 grants.

3.

4.

5.

OTHER TRADING ACTIVITIES
Bar, coffee, confectionary and merchandising income
INVESTMENT INCOME
Investment income
INCOME FROM CHARITABLE ACTIVITIES
Activity
Fundraising
Other income
Other income
Subscriptions
Theatre productions
Charitable activities
Other income
Charitable activities		 2021
£
-
2021
£
7
2021
£
-
185
190
65
440		 2020
£
19,355
2020
£
136
2020
£
2,527
2,490
70,050
13,503
88,570

continued...

Page 9

ELTHAM LITTLE THEATRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 July 2021

6. CHARITABLE ACTIVITIES COSTS

7.

CHARITABLE ACTIVITIES COSTS
Charitable activities
SUPPORT COSTS
Management
£
Other resources expended
17,802
Support costs, included in the above, are as follows:
Management
Insurance & licenses
Postage & stationery
Sundries
Travel & subsistence
Finance
Bank charges
Governance costs
Accountancy and legal fees		 Direct
Costs
£
55,068
Governance
Finance
costs
Totals
£
£
£
882
5,626
24,310
2021
2020
Other
resources
Total
expended
activities
£
£
10,840
11,211
4,191
5,237
2,753
3,650
18
34
17,802
20,132
2021
2020
Other
resources
Total
expended
activities
£
£
882
2,434
2021
2020
Other
resources
Total
expended
activities
£
£
5,626
4,240		 Direct
Costs
£
55,068
Totals
£
24,310

continued...

Page 10

ELTHAM LITTLE THEATRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 July 2021

8. OTHER

9.

Depreciation
Support costs
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets		 2021
£
39,830
24,310
64,140
2021
£
40,053		 2020
£
35,196
26,806
62,002
2020
£
35,290

10. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 July 2021 nor for the year ended 31 July 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 July 2021 nor for the year ended 31 July 2020.

11. STAFF COSTS

2021 2020
£ £
Wages and salaries 9,110 8,653
9,110 8,653
The average monthly number of employees during the year was as follows:
2021 2020
Administration 2 2

No employees received emoluments in excess of £60,000.

continued...

Page 11

ELTHAM LITTLE THEATRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 July 2021

12.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
26,621
Charitable activities
Fundraising
2,527
Subscriptions
2,490
Charitable activities
83,553
Other trading activities
19,355
Investment income
136
Total
134,682
EXPENDITURE ON
Charitable activities
Charitable activities
83,982
Other
62,002
Total
145,984
NET INCOME/(EXPENDITURE)
(11,302)
RECONCILIATION OF FUNDS
Total funds brought forward
1,260,296
TOTAL FUNDS CARRIED FORWARD
1,248,994		 Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total
funds
£
26,621
2,527
2,490
83,553
19,355
136
134,682
83,982
62,002
145,984
(11,302)
1,260,296
1,248,994

continued...

Page 12

ELTHAM LITTLE THEATRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 July 2021

13. TANGIBLE FIXED ASSETS

COST
At 1 August 2020
Additions
Exchange differences
At 31 July 2021
DEPRECIATION
At 1 August 2020
Charge for year
Exchange differences
At 31 July 2021
NET BOOK VALUE
At 31 July 2021
At 31 July 2020
COST
At 1 August 2020
Additions
Exchange differences
At 31 July 2021
DEPRECIATION
At 1 August 2020
Charge for year
Exchange differences
At 31 July 2021
NET BOOK VALUE
At 31 July 2021
At 31 July 2020		 Freehold
property
£
45,000
-
-
45,000
34,200
900
-
35,100
9,900
10,800
Fixtures
and
fittings
£
101,664
54,345
-
156,009
49,650
7,977
-
57,627
98,382
52,014		 Improvements
to
property
£
1,233,057
10,777
(11,181)
1,232,653
203,947
24,877
(224)
228,600
1,004,053
1,029,110
Computer
equipment
£
-
17,167
-
17,167
-
1,288
-
1,288
15,879
-		 Plant and
machinery
£
123,686
-
-
123,686
56,862
5,011
-
61,873
61,813
66,824
Totals
£
1,503,407
82,289
(11,181)
1,574,515
344,659
40,053
(224)
384,488
1,190,027
1,158,748

The VAT adjustment is a result of the charity becoming VAT registered in 2019 and making pre-VAT registration claims.

continued...

Page 13

ELTHAM LITTLE THEATRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 July 2021

14.
STOCKS
Stocks
15.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
VAT
Prepayments and accrued income
16.
CASH AT BANK AND IN HAND
Cash in hand
Bank account no. 1
Bank account no. 2
Bank deposit account
Total
17.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
VAT
Other creditors
Accruals and deferred income		 2021
£
500
2021
£
366
18,732
4,550
23,648
2021
Total
funds
£
958
10,958
736
29,652
42,304
2021
£
24,135
62
-
2,102
7,413
33,712		 2020
£
1,379
2020
£
366
-
-
366
2020
Total
funds
£
927
1,817
40,898
51,047
94,689
2020
£
247
(28)
2,989
2,980
-
6,188

continued...

Page 14

ELTHAM LITTLE THEATRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 July 2021

18. MOVEMENT IN FUNDS

At 1.8.20
£
Unrestricted funds
General fund
1,248,994
TOTAL FUNDS
1,248,994
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
92,981
TOTAL FUNDS
92,981
Comparatives for movement in funds
At 1.8.19
£
Unrestricted funds
General fund
1,260,296
TOTAL FUNDS
1,260,296
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
134,682
TOTAL FUNDS
134,682		 Net
movement
in funds
£
(26,227)
(26,227)
Resources
expended
£
(119,208)
(119,208)
Net
movement
in funds
£
(11,302)
(11,302)
Resources
expended
£
(145,984)
(145,984)		 At
31.7.21
£
1,222,767
1,222,767
Movement
in funds
£
(26,227)
(26,227)
At
31.7.20
£
1,248,994
1,248,994
Movement
in funds
£
(11,302)
(11,302)

Page 15

continued...

ELTHAM LITTLE THEATRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 July 2021

19. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 July 2021.

20. LIMITED BY GUARANTEE

The company is Limited by Guarantee and as such any profits are to be retained by the charity.

21. CONTINGENT ASSET

The 2019 VAT registration of the charity gave rise to VAT refunds provided for in this set of accounts. Further VAT refunds will be released at a rate of the annually calculated partial exemption percentage of the maximum reclaim of £12,521 per annum for the remaining 7 years as per the VAT Capital Goods Scheme. This has been agreed with HMRC, but to be prudent the adjustments will be made in future financial statements upon receipt of the refund.

Page 16