Company registration number: 591781 Charity registration number: 211361 

## The Stables Trust Limited 

(A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 30 September 2021 

Manningtons 39 High Street Battle East Sussex TN33 OEE 

; 



## The Stables Trust Limited 

## Contents 


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||||||
|---|---|---|---|---|
|Reference and Administrative|Details|1|
|Trustees' Report|2to4|
|Statement|of|Trustees' Responsibilities|5|
|Independent Examiner's|Report|6|
|Statement|of|Financial|Activities|7to8|
|Balance|Sheet|9|
|Notes to the Financial|Statements|,|10 to|19|

**----- End of picture text -----**<br>




## The Stables Trust Limited 

## Reference and Administrative Details 

## Trastees 

## Neil Sellman, Chairman 

## Henri Hayler, Treasurer 

## Harriet Davey, Secretary 

## Tim Pearce 

Cliff Brooker Mike Willard 

## David Harding 

Gill Jenks (resigned 25 May 2021) Susan Dengate (resigned 25 May 2021) Victoria Fay (resigned 25 May 2021) Yvonne Rees 

## Andrew White 

Colin Dormer (appointed 28 May 2021) Frank Jenks (appointed 28 May 2021) 

Registered Office 

## Company Registration Number 

The Stables Theatre High Street Hastings East Sussex TN34 3EY 

The charity is incorporated in England and Wales. 591781 

Charity Registration Number 

211361 

Bankers 

National Westminster Bank plc Havelock Road Hastings TN34 IBW 

Hampshire Trust Bank PO Box 74003 London EC2P 2QR 

Independent Examiner Manningtons 39 High Street Battle East Sussex TN33 OEE 

Page | 



## The Stables Trust Limited 

Trustees' Report The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements ofthe charitable company for the year ended 30 September 2021. 

## Objectives and activities 

## Objects and aims 

The objects of the charity are the preservation of 'The Stables’ building and the education of the public in the dramatic arts. The charity owns and occupies 'The Stables’ building. Having initially restored the then derelict Grade 2* listed building and converted it into a theatre and arts centre, the charity continues to maintain and Operate it. 

## Objectives, strategies and activities 

The strategy of the charity is to provide the public with opportunities to experience the dramatic arts at all levels, whether as direct participants or audience, and at affordable cost. The Stables venue is operated entirely by volunteer members who undertake all the tasks associated with a theatre and arts centre, such as stage management, set design and building, lighting and sound, wardrobe, art gallery management, box office, bar and front of house duties. For those wishing to act or direct the charity has an amateur group which produces 9-10 plays each year to a very high standard and is a member of the Little Theatre Guild of Great Britain. In addition to these plays, touring and other professional productions are staged, the facilities are made available to other local amateur and community groups, art exhibitions are held each month in the gallery and workshops and other items are programmed. 

## Public benefit 

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. 

## Structure, governance and management 

## Nature ofgoverning document 

The Stables Trust Limited is a company limited by guarantee governed by its memorandum and articles of association. It is registered as a charity with the Charity Commission. Anyone over the age of 18 can become a member ofthe company and there are currently about 1,800 members. 

## Recruitment and appointment oftrustees 

Trustees are elected annually by the members of the charitable company attending the Annual General Meeting. All members are circulated with invitations to nominate trustees prior to the AGM advising them of the retiring trustees and requesting nominations for the AGM. 

## Induction and training oftrustees 

New trustees undergo an orientation session to brief them on their legal obligations under charity and company law, the content of the memorandum and articles of association, the decision making processes, the business plan and recent financial performance of the charity. They will be given a tour of the building and an outline of the work of the various departments. 

## Arrangementsfor setting key management personnel remuneration 

The charity does not employ any individuals, all trustees and key management contribute their time on a voluntary basis. 

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## The Stables Trust Limited 

## Trustees' Report 

## Organisational structure 

The council of management (the trustees) meets regularly to administer the charity. Day to day operation of the theatre is in the hands of various departmental groups each ofwhich has a trustee link to the council. 

## Major risks and management ofthose risks 

## General Risk Management 

The trustees have a risk management strategy which comprises an ongoing review of the risks the charity may face; the establishment of systems and procedures to mitigate the identified risks; and the implementation of procedures designed to minimise any potential impact on the charity should those risks materialise, 

## Achievements and performance 

The theatre re-opened in May 2021 with a socially distanced mm of Michael Punter’s Bunker Girls and has continued to go from strength to strength throughout the pandemic. We would like to especially thank the early productions, The Complete Works Of William Shakespeare (Abridged), Prodigal Son & My Old Lady for working to and through some difficult and ever- changing Covid regulations regarding rehearsing and performance. 

Blue Stockings finally got to the stage in October, followed by Snow Queen at Christmas and Macbeth in February. Audience figures for all have been extremely encouraging, especially for Macbeth where we had a high number of under 18’s and a very high percentage of non-members, showing that the new marketing procedures we have put in place are having an effect. 

Membership fees have returned to their pre-pandemic prices and it is planned that this year we will have a fullon drive to increase numbers. We have reintroduced the group booking discount too. 

A new training scheme has been introduced where we offer ‘apprenticeships’ to anyone who would like to learn more about certain aspects of the theatre. You will be assigned to one of our experienced technicians/ designers and work with them during the duration of a show. We currently have people working on lighting, sound, set design and props. 

Volunteers are always very high on our priority list, and the number of professionals we have been working with over the last eight months who find it hard to believe we are all volunteers. A great testament to the skilis and dedication shown by all. 

There are two main driving forces at the Theatre, The Council of Management and Programme Advisory Group. Over the past twelve months we have been looking at the history and different ‘makeups’ of the Council of Management. We want to develop the council further, into a more compact dynamic group of people who oversee theatre business and act as custodians ofthe building. 

We will be working with the Royal Holloway University and findings from this work will be written into an online book to inform government ministers for future polices and be available for all to read by the summer. I have been assured the Stables features prominently in it. 

In 2022 we will continue to develop our programme of events with planned music concerts in the Art Gallery during March and September, a collaborative play, Here at Last is Love, in May and full productions of our New Writing Festival winners, the first being Seventh Swimmer in July. 

For those of you have been to the theatre as we re-open I hope you have found it welcoming and with an air of excitement, for those of you who have given up your time as volunteer or actor, thank you. 

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## The Stables Trust Limited 

## Trustees' Report 

## Financial review 

## Policy on reserves 

By having a policy of operating entirely with volunteers the charity is able to meet the normal running costs of its activities without the need for regular grant funding. However, it is the policy of the trustees to maintain free reserves of £30,000 to cover possible emergency repairs to the building and other contingencies. The actual free reserves at the year end date, that is funds which are not restricted or represented by fixed assets or designated by the trustees for a particular purpose, were £164,391, which the trustees consider is satisfactory. 

## Investment policy and objectives 

Under the memorandum and articles of association the charity has the power to invest in any way the trustees wish. The trustees, having regard to the liquidity requirements of operating the theatre and to the reserves policy, have operated a policy of keeping available funds in an interest bearing deposit account which pays a rate of interest as close as possible to the rate of inflation. 

The annual report was approved by the trustees of the charity on Els/ez. and signed on its behalf by: Atle Trustee 

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## The Stables Trust Limited 

## Statement of Trustees' Responsibilities 

The trustees (who are also the directors of The Stables Trust Limited for the purposes of company law) 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. Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to: 

- select suitable accounting policies and 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 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 charitable company will continue in business. 

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company 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. 

## Approved by the trustees of the charity on .2. G(LE. and signed on its behalf by: 

Trustee 

Page 5 



## The Stables Trust Limited 

## Independent Examiner's Report to the trustees of The Stables Trust Limited 

I report to the charity trustees on my examination ofthe accounts of the charity for the year ended 30 September 2021 which are set out on pages 7 to 19. 

## Respective responsibilities of trustees and examiner 

As the charity’s trustees of The Stables Trust Limited (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 Stables Trust Limited 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: 

- I. accounting records were not kept in respect ofThe Stables Trust Limited 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 ofthe accounts to be reached. 


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R Walsh FCCA<br>**----- End of picture text -----**<br>


39 High Street Battle East Sussex TN33 OEE 

## Date:,.2{ 3/222... 

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## The Stables Trust Limited 

## Statement of Financial Activities for the Year Ended 30 September 2021 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) 


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||||||||
|---|---|---|---|---|---|---|
|Unrestricted|Restricted|Total|
|fands|funds|2021|
|Note|£|£|£|
|Income|and|Endowments|from:|
|Donations and legacies|3|97,506|-|97,506|
|Charitable|activities|4|37,607|-|37,607|
|Investment|income|5|1,600|-|1,600|
|Total|income|136,713|-|136,713|
|Expenditure|on:|
|Charitable|activities|6|(110,499)|(1,066)|(111,565)|
|Total expenditure|(110,499)|(1,066)|(111,565)|
|Net income/(expenditure)|26,214|(1,066)|25,148|
|Net movement|in funds|26,214|(1,066)|25,148|
|Reconciliation|of funds|
|Total funds|brought forward|434,261|25,459|459,720|
|Total|funds|carried forward|17|460,475|24,393|484,868|

**----- End of picture text -----**<br>


The notes on pages 10 to 19 form an integral part of these financial statements. Page 7 



## The Stables Trust Limited 

## Statement of Financial Activities for the Year Ended 30 September 2021 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) 


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||||||||
|---|---|---|---|---|---|---|
|Unrestricted|Restricted|Total|
|fands|funds|2020|
|Note|£|£|£|
|Income|and|Endowments|from:|
|Donations|and|legacies|3|39,645|-|39,645|
|Charitable|activities|4|83,366|-|83,366|
|Investment|income|5|1,580|-|1,580|
|Total|income|124,591|-|124,591|
|Expenditure|on:|
|Charitable|activities|6|(121,003)|(1,116)|(122,119)|
|Total expenditure|(121,003)|(1,116)|(122,119)|
|Net|income/(expenditure)|3,588|(1,116)|2,472|
|Net movement|in funds|3,588|(1,116)|2,472|
|Reconciliation|of funds|
|Total|funds|brought forward|430,673|26,574|457,247|
|Total|funds carried forward|17|434,261|25,458|459,719|

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All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2020 is shown in note 17. 

The notes on pages 10 to 19 form an integral part of these financial statements. Page 8 



## The Stables Trust Limited 

## (Registration number: 591781) Balance Sheet as at 30 September 2021 

||||2021|2020|
|---|---|---|---|---|
||Note|.|£|£|
|Fixed assets|||||
|Tangibleassets|12||320,477|316,760|
|Current assets|||||
|Stocks<br>Debtors|13<br>14||2,564<br>7,006|2,976<br>2,349|
|Cash atbankand inhand|15||162,515|140,591|
||||172,085|145,916|
|Creditors:Amounts fallingduewithinoneyear|16||(7,694)|(2,957)|
|Netcurrentassets|||164,391|142,959|
|Netassets|||484,868|459,719|
|Funds ofthe charity:|||||
|Restricted income funds|||||
|Restrictedfunds|17||24,393|25,458|
|Unrestricted income funds|||||
|Unrestricted funds|||460,475|434,261|
|Totalfunds|17||484,868|459,719|



For the financial year ending 30 September 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. 

## Directors’ responsibilities: 

- The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and 

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. 

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

The financial statements on pages 7 to 19 were approved by the trustees, and authorised for issue on = signed on their behalf by: <i Chairman 

The notes on pages !0 to 19 form an integral part of these financial statements. 

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## The Stables Trust Limited 

## Notes to the Financial Statements for the Year Ended 30 September 2021 

## 1 Charity status 

The charity is a charity limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets ofthe charity in the event of liquidation. The address of its registered office is: 

The Stables Theatre 

High Street Hastings East Sussex TN34 3EY 

## 2 Accounting policies 

## Summary of significant accounting policies and key accounting estimates 

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to ali the years presented, unless otherwise stated. 

## Statement of compliance 

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 02) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. 

## Basis of preparation 

The Stables Trust Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. 

## Going concern 

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concer nor any significant areas of uncertainty that affect the carrying value of assets held by the charity. 

## Exemption from preparing a cash flow statement 

The charity opted to adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements. 

## Income and endowments 

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

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## The Stables Trust Limited 

## Notes to the Financial Statements for the Year Ended 30 September 2021 

## Donations and legacies 

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period. 

## Grants receivable 

## , 

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released. 

## Investment income 

Investment income is recognised on a receivables basis. 

## 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. 

## Governance costs 

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses. 

## Government grants 

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the pericd in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income. 

## Taxation 

The charity is considered to pass the tests set out in Paragraph | 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. 

Page 11 



## The Stables Trust Limited 

## Notes to the Financial Statements for the Year Ended 30 September 2021 

## Tangible fixed assets 

Individual fixed assets costing £100.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment lasses. 

## Depreciation and amortisation 

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows: 

## Asset class 

Freehold interest in land and buildings Fixtures, fittings and equipment 

Depreciation method and rate 2% straight line basis 4% - 25% on the reducing balance 

## Stock 

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and stow moving stocks. Cost is determined using the first-in, first-out (FIFO). 

## Trade debtors 

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. 

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables. 

## Cash and cash equivalents 

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. 

## Trade creditors 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting pericd, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. 

## Trade creditors are recognised initially at the transaction price. 

## Fand structure 

Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance ofthe objectives of the charity. 

Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees. 

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. 

Page 12 



## The Stables Trust Limited 

## Notes to the Financial Statements for the Year Ended 30 September 2021 

## 3 Income from donations and legacies 


**----- Start of picture text -----**<br>
|||||||
|---|---|---|---|---|---|
|Unrestricted|
|2021|2020|
|General|Total|Total|
|£|£|£|
|Appeals|and donations|9,156|9,156|2,742|
|Grants,|including|capital|grants;|
|Government grants|74,876|74,876|10,000|
|Membership|subscriptions|12,274|12,274|25,403|
|Sponsorship|1,200|1,200|1,500|
|97,506|97,506|39,645|
|4|Income|from|charitable|activities|
|Unrestricted|
|fands|Total|Total|
|General|2021|2020|
|£|£|£|
|Admission|charges and programmes|23,140|23,140|65,078|
|Bar income|8,422|8,422|14,921|
|Art gallery|income|1,430|1,430|2,102|
|Theatre and|costume|hire|2,312|2,312|1,176|
|Other income|2,303|2,303|89|
|37,607|37,607|83,366|
|5|Investment|income|
|Unrestricted|
|funds|Total|Total|
|General|2021|2020|
|£|£|£|
|Interest|receivable and|similar|income;|
|Interest receivable on bank deposits|1,600|1,600|_—__ 1580|

**----- End of picture text -----**<br>


Page 13 



## The Stables Trust Limited 

## Notes to the Financial Statements for the Year Ended 30 September 2021 

## 6 Expenditure on charitable activities 

||Note|Unrestricted funds<br>Designated<br>General<br>£<br>£|Unrestricted funds<br>Designated<br>General<br>£<br>£|Restricted<br>funds<br>£|Total<br>2021<br>£|Total<br>2020<br>£|
|---|---|---|---|---|---|---|
|Operation oftheatre and|||||||
|artstheatre<br>Depreciation, amortisation||-|97,156|-|97,156|105,498|
|and othersimilar costs||77|12,666|1,066|13,809|14,050|
|Governancecosts|7|-|600|-|600|2,571|
|||ce|at<br>tO422) 1066)||111,565)|122,119|
||||Activity||||
||||undertaken||||
||||directly|2021||2020|
||||£||£|£|
|Productionscosts|||12,299||12,299|27,934|
|Barpurchases|||4,453||4,453|8,993|
|Training|||70||70|-|
|Artgallerycosts|||1,397||1,397|732|
|Establishment costs|||17,777||17,777|25,507|
|Repairsandmaintenance<br>Officeexpenses|||35,067<br>7,678||35,067<br>7,678|5,212<br>10,647|
|Printing,postingandstationery|||3,234||3,234|3,501|
|Sundry andothercosts|||3,319||3,319|4,197|
|Cleaningandrefuse|||4,031||4,031|5,161|
|Marketing|||3,626||3,626|9,619|
|BankCharges|||4,205||4,205|3,995|
|Depreciation oftangible fixed assets|||13,809||13,809|14,050|
||||110,965|110,965||119,548|



£109,899 (2020 - £118,432) of the above expenditure was attributable to unrestricted funds and £1,066 (2020 - £1,116) to restricted funds. 

Page 14 



## The Stables Trust Limited 

## Notes to the Financial Statements for the Year Ended 30 September 2021 

## 7 Analysis of governance and support costs 

## Governance costs 


**----- Start of picture text -----**<br>
Unrestricted<br>General Total2021 Total2020<br>£ £ £<br>Accountancy fees<br>Other fees paid to accountants 600 600 -<br>Other governance costs - - 2,571<br>600 600 2,571<br>**----- End of picture text -----**<br>


8 Net incoming/outgoing resources 

Net incoming resources for the year include: 

## Depreciation of fixed assets 


**----- Start of picture text -----**<br>
2021 2020<br>£ £<br>13,809 14,050<br>**----- End of picture text -----**<br>


## 9 Trustees remuneration and expenses 

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. 

No trustees have received any reimbursed expenses from the charity during the year. 

## 10 Staff costs 

The Trust does not employ people. There were no employees in this financial period, nor in 2020. 

## 11 Taxation 

The charity is a registered charity and is therefore exempt from Corporation Tax. 

Page 15 



## The Stables Trust Limited 

## Notes to the Financial Statements for the Year Ended 30 September 2021 

## 12 Tangible fixed assets 


**----- Start of picture text -----**<br>
Land and Furniture and<br>buildings equipment Total<br>£ £ £<br>Cost<br>At 1 October 2020 322,835 236,952 559,787<br>Additions 11,482 6,043 17,525<br>At 30 September 2021 334,317 242,995 577,312<br>Depreciation<br>At 1 October 2020 115,996 127,031 243,027<br>Charge for the year 4,833 8,975 13,808<br>At 30 September 2021 120,829 136,006 256,835<br>Net book value<br>At 30 September 2021 213,488 106,989 320,477<br>At 30 September 2020 206,839 109,921 316,760<br>13 Stock<br>2021 2020<br>£ £<br>Stocks 2,564 2,976<br>14 Debtors<br>2021 2020<br>£ £<br>Prepayments 7,006 2,349<br>15 Cash and cash equivalents<br>2021 2020<br>£ £<br>Cash on hand 1,402 821<br>Cash at bank 161,113 139,770<br>162,515 140,591<br>16 Creditors: amounts falling due within one year<br>2021 2020<br>£ £<br>Trade creditors 2,996 2,682<br>Accruals 4,698 275<br>7,694 2,957<br>**----- End of picture text -----**<br>


Page 16 



The Stables Trust Limited 

## Notes to the Financial Statements for the Year Ended 30 September 2021 

## 17 Funds 


**----- Start of picture text -----**<br>
|||||||
|---|---|---|---|---|---|
|Balance|at 30|
|Balance at|1|Incoming|Resources|September|
|October 2020|resources|expended|2021|
|£|£|£|£|
|Unrestricted|
|General|
|General|fund|432,340|136,713|(110,422)|458,631|
|Designated|
|George Leach Memorial|fund|1,921|-|(77)|1,844|
|Total Unrestricted|434,261|136,713|(110,499)|460,475|
|Restricted|
|Auditorium|and Access|Project|
|fund|24,697|-|(990)|23,707|
|Bar Furniture fund|762|-|(76)|686|
|Total|restricted|25,459|-|(1,066)|24,393|
|Total funds|459,720|136,713|(111,565)|484,868|

**----- End of picture text -----**<br>


Page 17 



## The Stables Trust Limited 

## Notes to the Financial Statements for the Year Ended 30 September 2021 


**----- Start of picture text -----**<br>
||||||||
|---|---|---|---|---|---|---|
|Balance|at 30|
|Balance at|1|Incoming|Resources|September|
|October 2019|resources|expended|2020|
|£|£|£|£|
|Unrestricted|funds|
|General|
|General|fund|428,672|124,591|(120,923)|432,340|
|Designated|
|George Leach Memorial|fund|2,00]|~|(80)|1,921|
|Total|unrestricted|funds|430,673|124,591|(121,003)|434,261|
|Restricted|
|Auditorium|and Access|Project|
|fund|25,727|-|(1,031)|24,696|
|Bar Furniture|fund|847|-|(85)|762|
|Total|restricted|funds|26,574|-|(1,116)|25,458|
|Total funds|457,247|124,591|(122,119)|459,719|

**----- End of picture text -----**<br>


The specific purposes for which the funds are to be applied are as follows: 

## Designated funds: 

Funeral donations in respect of the late George Leach were received by the charity and were designated by the trustees for use in replacing the theatre house tabs (stage curtains). Depreciation on the assets financed from the fund ase charged against the fund balance. 

## Restricted funds: 

The Auditorium and Access Project fund was to raise funds for that project. These included a grant from Arts Council England and the Seat Sponsors Scheme. Depreciation on the assets financed from the fund is charged against the fund balance. 

The Bar Furniture fund consists of a grant from the Isobel Blackman Foundation towards the cost of new bar furniture. Depreciation on the assets financed from the fund is charged against the fund balance. 

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## The Stables Trust Limited 

## Notes to the Financial Statements for the Year Ended 30 September 2021 

## Analysis of net assets between funds 


**----- Start of picture text -----**<br>
|||||||
|---|---|---|---|---|---|
|Total|funds|at|
|Unrestricted|funds|Restricted|30 September|
|General|Designated|funds|2021|
|£|£|£|£|
|Tangible fixed|assets|294,240|1,844|24,393|320,477|
|Current assets|172,085|-|-|172,085|
|Current liabilities|(7,694)|-|-|(7,694)|
|Total|net assets|458,631|1,844|24,393|484,868|
|Total|funds|at|
|Unrestricted|funds|Restricted|30 September|
|General|Designated|funds|2020|
|£|£|£|£|
|Tangible fixed|assets|289,381|1,921|25,458|316,760|
|Current assets|145,916|-|-|145,916|
|Current liabilities|(2,957)|-|-|(2,957)|
|Total|net assets|432,340|1,921|25,458|459,719|

**----- End of picture text -----**<br>


## 18 Non-adjusting events after the financial period 

Since the balance sheet date, the spread of COVID-19 has severely impacted many local economies around the globe. 

In many countries, businesses are being forced to cease or limit operations for long or indefinite periods of time. Measures taken to contain the spread of the virus, including travel bans, quarantines, social distancing, and closures of non-essential services have triggered significant disruptions to businesses worldwide, resulting in an economic slowdown. The UK Government have responded with monetary and fiscal interventions to stabilise economic conditions. 

The company has determined that these events are non-adjusting subsequent events. Accordingly, the financial position and results of operations as of and for the year ended 30 September 2021 have not been adjusted to reflect their impact. 

The duration and impact of the COVID-19 pandemic, as well as the effectiveness of government and central bank responses, remains unclear at this time. It is not possible to reliably estimate the duration and severity of these consequences, as well as their impact on the financial position and results of the company for future periods. 

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