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2023-07-31-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 2023

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 2023

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 15

ELTHAM LITTLE THEATRE LIMITED (REGISTERED NUMBER: 00410481)

TRUSTEES' REPORT for the year ended 31 July 2023

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 2023. 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 charity 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 Commission's 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 incomes 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 officer 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 £62,217 an increase of £1,974 from 2022. The surplus for the year amounted to £9,244 (2022: £8,854) after deducting depreciation charges of £38,093 (2022: £38,759).

Going concern

The trustees consider the charity to be a going concern due to the fact there is approximately £119,000 in the bank.

Page 1

ELTHAM LITTLE THEATRE LIMITED (REGISTERED NUMBER: 00410481)

TRUSTEES' REPORT

for the year ended 31 July 2023

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 9 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 (resigned 20.10.22) Mrs J M Sims Retired Mrs C Williams Educationalist (resigned 20.11.23) J F Goodwin Retired (appointed 20.10.22)

Company Secretary

J E Shepherd

Page 2

ELTHAM LITTLE THEATRE LIMITED (REGISTERED NUMBER: 00410481)

TRUSTEES' REPORT for the year ended 31 July 2023

REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner

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

Members of Board of Management

J Sims Chair I Hamilton C Williams Secretary J Shepherd J Goodwin Treasurer A Ingram D Hinchley-Robson D Barefoot P Martin

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 9 March 2024 and signed on its behalf by:

Mrs J M Sims - 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 2023.

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

  2. 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

  3. 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

9 March 2024

Page 4

ELTHAM LITTLE THEATRE LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) for the year ended 31 July 2023

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
5
Subscriptions
Charitable activities
Other trading activities
3
Investment income
4
Total
EXPENDITURE ON
Charitable activities
6
Charitable activities
Other
8
Total
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
10,521
2,390
118,147
36,589
1,012
168,659
94,694
64,721
159,415
9,244
1,231,621
1,240,865		 Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-
-		 2023
Total
funds
£
10,521
2,390
118,147
36,589
1,012
168,659
94,694
64,721
159,415
9,244
1,231,621
1,240,865		 2022
Total
funds
£
25,536
2,295
106,133
25,833
19
159,816
87,645
63,317
150,962
8,854
1,222,767
1,231,621

The notes form part of these financial statements

Page 5

ELTHAM LITTLE THEATRE LIMITED (REGISTERED NUMBER: 00410481)

BALANCE SHEET 31 July 2023

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
£
1,118,736
990
15,488
118,918
135,396
(13,267)
122,129
1,240,865
1,240,865		 Restricted
fund
£
-
-
-
-
-
-
-
-
-		 2023
Total
funds
£
1,118,736
990
15,488
118,918
135,396
(13,267)
122,129
1,240,865
1,240,865
1,240,865
1,240,865		 2022
Total
funds
£
1,148,811
450
59
102,073
102,582
(19,772)
82,810
1,231,621
1,231,621
1,231,621
1,231,621

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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 2023

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 9 March 2024 and were signed on its behalf by:

J M Sims - 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 2023

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 2023

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 grants
3.
OTHER TRADING ACTIVITIES
Bar, coffee, confectionary and merchandising income
4.
INVESTMENT INCOME
Investment income
5.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Other income
Subscriptions
Theatre productions
Charitable activities
Other income
Charitable activities
6.
CHARITABLE ACTIVITIES COSTS
Charitable activities

continued...

Page 9

ELTHAM LITTLE THEATRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 July 2023

7. SUPPORT COSTS

Management
£
Other resources expended
14,741
Support costs, included in the above, are as follows:
Management
Insurance & licenses
Postage, Stationary & Phone
Sundries
Travel & subsistence
Finance
Bank charges
Governance costs
Accountancy and legal fees
8.
OTHER
Depreciation
Support costs		 Governance
Finance
costs
Totals
£
£
£
2,752
9,135
26,628
2023
2022
Other
resources
Total
expended
activities
£
£
10,295
10,646
3,977
5,306
283
437
186
107
14,741
16,496
2023
2022
Other
resources
Total
expended
activities
£
£
2,752
2,117
2023
2022
Other
resources
Total
expended
activities
£
£
9,135
6,845
2023
2022
£
£
38,093
38,759
26,628
24,558
64,721
63,317		 Totals
£
26,628
63,317

continued...

Page 10

ELTHAM LITTLE THEATRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 July 2023

9. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2023 2022
£ £
Depreciation - owned assets 38,095 38,757

10. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 July 2023 nor for the year ended 31 July 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 July 2023 nor for the year ended 31 July 2022.

11. STAFF COSTS

Wages and salaries
The average monthly number of employees during the year was as follows:
Administration
No employees received emoluments in excess of £60,000.
12.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
25,536
Charitable activities
Subscriptions
2,295
Charitable activities
106,133
Other trading activities
25,833
Investment income
19
Total
159,816
EXPENDITURE ON
Charitable activities
Charitable activities
87,645		 2023
£
10,661
10,661
2023
1
Restricted
fund
£
-
-
-
-
-
-
-		 2022
£
9,879
9,879
2022
1
Total
funds
£
25,536
2,295
106,133
25,833
19
159,816
87,645

continued...

Page 11

ELTHAM LITTLE THEATRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 July 2023

12.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
funds
fund
£
£
Other
63,317
-
Total
150,962
-
NET INCOME
8,854
-
RECONCILIATION OF FUNDS
Total funds brought forward
1,222,767
-
TOTAL FUNDS CARRIED FORWARD
1,231,621
-
13.
TANGIBLE FIXED ASSETS
Improvements
Freehold
to
property
property
£
£
COST
At 1 August 2022
45,000
1,229,469
Additions
-
8,069
VAT adjustment
-
(7,387)
At 31 July 2023
45,000
1,230,151
DEPRECIATION
At 1 August 2022
36,000
253,253
Charge for year
900
24,697
At 31 July 2023
36,900
277,950
NET BOOK VALUE
At 31 July 2023
8,100
952,201
At 31 July 2022
9,000
976,216		 Total
funds
£
63,317
150,962
8,854
1,222,767
1,231,621
Plant and
machinery
£
124,411
1,233
-
125,644
66,509
4,359
70,868
54,776
57,902

continued...

Page 12

ELTHAM LITTLE THEATRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 July 2023

13. TANGIBLE FIXED ASSETS - continued

COST
At 1 August 2022
Additions
VAT adjustment
At 31 July 2023
DEPRECIATION
At 1 August 2022
Charge for year
At 31 July 2023
NET BOOK VALUE
At 31 July 2023
At 31 July 2022		 Fixtures
and
fittings
£
156,009
649
-
156,658
65,005
6,866
71,871
84,787
91,004		 Computer
equipment
£
17,167
5,456
-
22,623
2,478
1,273
3,751
18,872
14,689		 Totals
£
1,572,056
15,407
(7,387)
1,580,076
423,245
38,095
461,340
1,118,736
1,148,811

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

14. STOCKS

14.
STOCKS
2023
£
Stocks
990
15.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023
£
Trade debtors
208
VAT
7,324
Prepayments and accrued income
7,956
15,488		 2022
£
450
2022
£
59
-
-
59

continued...

Page 13

ELTHAM LITTLE THEATRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 July 2023

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
18.
MOVEMENT IN FUNDS
At 1.8.22
£
Unrestricted funds
General fund
1,231,621
TOTAL FUNDS
1,231,621
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
168,659
TOTAL FUNDS
168,659		 2023
Total
funds
£
1,016
2,522
72,370
43,010
118,918
2023
£
10,200
188
-
625
2,254
13,267
Net
movement
in funds
£
9,244
9,244
Resources
expended
£
(159,415)
(159,415)		 2022
Total
funds
£
419
3,621
55,371
42,662		 2022
Total
funds
£
419
3,621
55,371
42,662		 2022
Total
funds
£
419
3,621
55,371
42,662
102,073
2022
£
16,713
7
55
1,408
1,589
19,772
At
31.7.23
£
1,240,865		 2022
£
16,713
7
55
1,408
1,589
19,772
1,240,865
Movement
in funds
£
9,244
9,244
9,244

continued...

Page 14

ELTHAM LITTLE THEATRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 July 2023

18. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1.8.21
£
Unrestricted funds
General fund
1,222,767
TOTAL FUNDS
1,222,767
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
159,816
TOTAL FUNDS
159,816		 Net
movement
in funds
£
8,854
8,854
Resources
expended
£
(150,962)
(150,962)		 At
31.7.22
£
1,231,621		 At
31.7.22
£
1,231,621
1,231,621
Movement
in funds
£
8,854
8,854
8,854

19. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 July 2023.

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 5 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 15