Company registration llumber: 591781 Charityregistration Dumber: 211361 The Stables Trust Limited (A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 30 Septsmber 2023 Manningts)ns 39 High Street Battle East Sussex TN33 OEE
The Stables Trust Limited Contents Reference and Administrative Details Trustees, Report 2to5 Statement of TnL8tees' Responsibilities lndepelldt ExamineV8 Report Statement of Financial Activities 8t09 Balance Sheet 10 Statement of Cth Flows 11 Notes to the Financial Ststements 12to22
The Stables Trust Limited Reference and Administrative Details Chairman Neil Sellman, Chairman Other Officers Henri Hayler, Treasurer Trustees Harriet Davey, Secretary David Harding Yvonne Rees C Dormer Stuart Baillie Hugo Trebels Christine Jane Warrington The Stables Theatre High Street Hastings East Sussex TN34 3EY Registered Office The charity is incorporated in England and Wales. 591781 Company Registration Number Charity Registration Number 211361 Bankers National Westminster Bank plc Havelock Road Hastings TN34 1 BW Hampshire Trust Bank PO Box 74003 London EC2P 2QR Manningtons 39 High Street Battle East Sussex TN33 OEE Independent Examiner Page I
The Stables Trust Limited Trustees, Report The trusw who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable Company for the yEar ended 30 September 2023. Objecdves and acdvIties 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 thffl derelict Grade 2* listed building and converted it into a theatre and arts centre. the charitycontinues to maintain and operats IL Objectiw strategla and activiiies The stratsgy of the charity is to provide the public with opportunitias to experience the dramatic arts at all levels, whether as direct participants or audienc4 and at affordable cosL The Stables venue is operated entirely by volunteer members who undertake all the tasks associated with a theatre and arts centre, such as stage managem¢ set design and buildin& lighting and sound, warthobe, art gallery managemen¢ box office, bar and front of house duties. For those wishing to act or direct the charity has an amatar 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. Tn addition to these play89 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 programme(L Public benef The trustees confirni that they have complied with the requirements of section 17 of the Charities Act 2011 to bave due regard to the public benefit guidance published by the Charity Commission for England and Wales. structur governance and management Nature ofgoverning document The stabl Trust Limited is a company limited by guarantee governed by its memorandum and articl of association. It is registered as a charity with the Charity Commission. Anyone over the age of 18 can become a member of the company and there are awrently about 1.800 membcrs. Recrniiment and appoin¢men¢ oftnutees Trustees are elected allnually by the members of the charitsble 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. Inductlon and tr"nIng oftnutees New trustees undergo an orientation session to brief thean on their legal obligations undcr charity and company law, the fA>ntent of the memorandum and articl of association, the decision making proCe8. the business plan and recent fmancial perf0rnWi of the charity. They will be given a tour of the building and an outline of the work of the various departments. Page 2
The Stables Trnst Limited Trnstees, Report Arrangementsfor seth'ng key managementpersonnel remunerarfon The charity does not employ any individual4 all trustees and key management contribute their time on a voluntsry basis. Organ&satlonal structure The council of management (the trustees) meets regularly to administer the charity. Day to day operation of the theatre is in the han(18 of various departmental groups each of which has a trnstee link to the council. Major n'sks and man4gement ofthose risks General Riskmanagement The trustees have a risk management Strategy which comprises an ongoing review of the risks the cbarity may face. the establishment of systems and prLKedures to mitigate the identified risks; and the implementation of procedures designed to minimise anypotential impact on the charity should those risks materialise. Flnancial revlew Policy on reserves By having a policy of operating entirely with volunteers the cbarity is able to meet the norn]al running costs of its activities without the need for regular grant fimding. However, it is the policy of the trustees to rnaintsin frec 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 fimds which are Dot restricted or represented by fixed assets or designated by the trustees for a particular purpose, were £213.565, which th¢ trustees consider is satisfactory. Investmentpolicy and objectlves 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 policyg have operated a policy of keeping available funds in an interest bearing deposit account which pays a rate of interest a8 close as possible to the ra* of inflation. Page 3
The Stables Trust Limited Trustees, Report Achievements and performance Our October 2022 to September 2023 season was extremely successful both artistically and financially) ending 2022 with Who's Afraid of Virginia Woolf (Edward Albee) & Honk the Musical (Stiles and Drewe). this family Chrisknas production gave the opportunity to a nUrnb of the Youth Group to be involved in a full Stables production. 2023 opened with the winner of our 2021 New Writing competition First Bus to Ballinabeg by Sean Hume which was followed by a sold out run of Agatha Christie's The Hollow. Breaking the Code, the story of Alan Thring and its strong lith to Hastings was produced in June with Love and Inforniation by Caryl Churchill giving an opportunity for a group of actors between the ages of18 and 25. Home, I'm Darling by Laura Wade - winner of Best New Comedy Olivier Awards 2019 had a set of quick change costumes made for 'Judy' by West End designer and maker. Youth Theatre perfornied a new script 'ShelfLifr' by young writer Jessie Lockie. we then took a new direction and produced Pinter @ The stsb1 in the round on the stage, a twfrhandff which sold out. We closed the season with an artistically acclaimed production of Lovesong by Abi Morgan. Audience attendance during the 2022123 season was very encournging. Productions have been extremely well supported during this period and have been continually attracting non-members to the theatr4 many of whom are now returning customers. Feedback from audien has been very positive in relation to programming and the range of events at the Theatre. With our facilities, equipment and the skills we have within the theatre we have been able to attract a numbff of regUIsed perforniers and artist& with us only working on a box office split all shows have been financially viable. The challenge now is how we make this sustainable in relation to staffing and operating thus securing the theatre's foreseeable future. Youth presence at the theatre has continued to grow during the season, with regular pro•school sessions from Out of the Bag Theatre, the continuation and development of Youth Theatre, young actors productions and the establi8hmeLt of a new Youth Board. Work has startal to rationalise this area of the theatre and to embed Youth work into our ethos and forward planning. Stronger partnerships are being forged with outside companie& We bave IMI able to offer a 'home' to ¢ompanies who have108t St Mary in The Castl4 provide development and perforniance space for local professionals. continue our relationship with other local theatre and dance groups and have Start a dialogue with the new managers of The WhiteRock Theatre. 2023 will be a year when we need to focus on the development of technician& SM & Operators. They are vitsl to the survival of the theatre and it cannot be left to just a few. Students from both East Sussex and Bexhill Colleges have become a vital part of our team, and we have created a very positive symbiotic relationship, experienced members of the theatre have worked closely with students on set design/ set painting/ lighting design and rigging. Page 4
The Stables Trust Limited Trustees, Report Achievements and perforniance continued.. Volunteers are always very high on our priority lis( both in tern of '%ve need you" and gratitude. The professionals we have been working with over the last eight months fmd it hard to believe that we are all volunteers - a great testsment to the skills and dedication shown by all. For those of you who have been to the Theatre this season, thank you for your support. For those of you who have worked at the theatre and have been able to support members of the communityto be part of the theatr4 thank you. I hope you have found it a welcoming, inclusive and exciting place to be. Page 5
The Stables Trust Limlted Statement of Trustees, Responsibilities The trusteas (who are also the directors of The Stsbles Trust Limited for the purposes of company law) are responsible for prq)aring the trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 'The Financial Reporting Standard applicable in the UK and RepubIic of Ireland" Company law requires the trustees to prare fiDancial 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 charitsble company and of the incoming resources and application of resources, including its income and expenditur4 of the charitable company for that period In preparing these financial statements, the trustees are required to: select suitable accounting policies and apply theAJ] consistently, observe the methods and principles in the Charities SORP; make judgements and estimates that are reasonable and prudenL Stste whether applicable accountin8 Standards, comprising FRS 102 have been followed. subject to any material departur disclosed and explained in the financial statements. and prepare the finaDcial statements on the going concern basis unless it is inappropriate to presume that the charitsble company will continue in business. The trustees are respon8ible for keeping proper accounting records that Gan disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial ststements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitsble Company and hence for taking re&sonable stq)s for the prevention and detection of fraud and other irregularities. The trustees are rw)nsible for the maintenance and integrity of the corporate and financial Inforntion includ1 on the charitsble compan5 website. Legislation governing the preparation and disseminati of financial statements may differ from legislation in other jurisdictions. Approved by the tnteeS of the charity on .. Henri Hayler Other officer Page 6
The Stables Trust Lfimited Independent Examiner's Report to the trnstees of The Stables Trust Limited ('the Company,) I r¢port to the charity trustees on my examination of the accounts of the Company for the year ended 30 Sq)tember 2023. Re8pon8ibilitie8 and ba818 of report As the charitys 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 rquirements of the Companie4 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 examinatio I report in respect of my examination of your charitys accounts as carried out under section 145 of the Charitias Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission undff section 145(5)(b) of the 2011 ACL Independent examiner's statement I have completed my examination. I confirn] that no matters have come to my attention in connection with the examination giving me cause to believe: accounting records were not kq>t in respect of The Stables Trust Limited as required by section 386 of the 2006 Act; or 2. the ae2ounts do not accord with those rcLM)rds; or 3. the accounts do not comply with the accounting requiremfflts 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 charitias [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 conc&ns and have come across no other matters in connection with the examination to which attention should drawn in this report in order to enable a proper understanding of the accounts to be reache(L R Walsli FCCA 39 High Street Battle East Sussex TN33 OEE Page 7
The Stables Trust Limited Statement of Financial Activities for the Year Ended 30 September 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestrlcted fund8 Restrlcted funds Total 2023 Note Income and Endowments from: Donations and legacies Charitable actlvities Investment income 33.755 174,163 1,000 33,755 174.163 1,000 Total InLMe 208 918 208 918 Expendlture on: Charitable activities 179 754 1285 181039 Totsl expenditure Net incomeJ(expenditure) Net movement in fimds 179,754 1,285 181,039 1285 27 879 29,164 (1,285) Reconciliallon of funds 27,879 Total fimds brought forward Total fimds carried forward 477 222 500 267 11 506,386 21,760 528,146 The notes on pages 12 to 22 forni an integral part of these fmancial statements. Page 8
The Stables Trust Limlted Statement of Financial Activities for the Year Ended 30 September 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestrlcted funds Restricted funds Total 2022 Note Income and Endowments from: Donations and legacie6 Charitable actlvities Investment income 32.066 151,719 82 32,066 151,719 82 Total income 183,867 183 867 Expendlture on: Charitable activities 167,120 1348 168.468 Total expenditure Net incomal(expenditure) Net movement ID funds 167.120 1,348 168,468 16.747 1,348 15 399 16,747 (1,348) Reconciliation of funds Totsl funds brought forward Totsl funds carried forward 15,399 460 475 24 393 484 868 477,222 23,045 500,267 A]1 of the charity8 activities derive from continuing operations during the above two periods. The funds breakdown for 2022 is shown in note I l. The notes on pages 12 to 22 forni an inte1 part of these financial ststements. Page 9
The Stables Trust Limited (Registration number: 591781) Balance Sheet as at 30 September 2023 2023 Note 2022 Fixed assets Tangible assets Current assets Stocks Debtors Cth at bank and in hand 16 314,581 330,137 5,443 6,497 214.419 2,704 5,639 170,120 178,463 8.333 226.359 Credltors: Amounts falling due wlthln one year Net current assets 10 12,794 213 565 170 130 Net assets 528,146 500 267 Fund5 of the charlty: Restrlcted Income fund8 Restricted funds 11 21,760 23,045 Unrestricted ineome funds Unrestricted funds 506,386 477,222 Totsl funds 11 528 146 500,267 For the financial yw ending 30 September 2023 the charity was entitled to exemption from audit under section 477 of the cornpani Act 2006 relating to small compania8. Directors, responsibilities: The members have not requireA 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 complyAng with the requirements of the Act with respect to accounting records and the preparation of accounts. The financial statements on pages 8 to 22 were approved by the trustees, and authorised for issue on ..... ed on their behalf by: ql.ala Neil Sellman Chainnan The notes on pag&s 12 to 22 forn] an inte1 part of these financial statements. Page 10
The Stables Trnst Limlted Statement of Cash Flows for the Year Ended 30 September 2023 2023 Note 2022 Cash flows from operating activitie8 Net cash income 27,879 Adjustments to eash flows from non•casb Items Depreciation Invesknent income 15,399 15,556 1.000 16,412 82 42,435 Working eapltsl adju8tment8 Increase in stocks (IncreaSe)/dease in debtors Increase in creditor8 31,729 (2,739) (858) 4,461 (140) 1,367 639 10 Net cash flows from operating activities Cash flows from IDvesdllg acdvldes Interest receivable and similar income Purchase of tangible fixed assets Net cash flows from investing activitics Net increase in cash and cash equivalents Cash and cash equivalents at l October Cash and cash equivalents at 30 Septembcr 43,299 33 595 1,000 82 26 072 16 25,990 44,299 170.120 214 419 7,605 162,515 170 120 All of the cash flows are derived from continuing operations during the above two periods. The notes on pages 12 tt) 22 forni an integral part of these financial statements. Pagell
The Stables Trust Limited Notes to the Financial Statements for the Year Ended 30 September 2023 I Charity status The charity is a charity limited by guarantee and consequently does not have share capitsl. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. The address of its registered office is: The Stables Theatre High Street H&8tings East Sussex TN34 3EY 2 Accoulltlng pollcles Summary of signlficant accounting policles and key accountlng estlmate8 The principal accounting policies applied in the preparation of the financial statements are set out below. These policies have been consistently applied to all the years presents4 unless otherwise stated ststement of compllanee The financial statements have been prepared in accordance with Accounting and Rq)orting by Cbaritie8: Statement of Recommended Practice applicable to Chariti preparing their a¢counts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2015) ~ (Chariti 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 llnd FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. Golng concern The tntee5 consider that there are no material uncertainties about the charitys ability to continue as a going concern nor any significant areas of uncertainty that affect the Carrng value of assets held by the Charity. Income and endowmellts All income is recognised once the charity has entitlement to the inrne, it is probable that the income will be received and the amount of the income receivable can be measured reliably. Page 12
The Stables Trnst Limlted Notes to the Financial Statsments for the Year Ended 30 September 2023 Donations and legacles Donations are regnised 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 perforniance by the charity before the charity is entitled to the fimds, the income is deferred and not recognised until eithff those conditions are llY 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 reeeivable Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where perforn]anLZ conditions are attacheAI to the grant and are yet to be mel the income is recognised as a liability and included on the balance sheet as deferred income to be released. Invthent Income Investment income is recogni8ed on a receivables basis. EendItUre All expenditure is recognised once there is a legal or constructive obligation to that expenditur4 it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicabl¢ expenditure heading that agegate 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 stsff costs allocated on the basis of time spenL 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 necassary to support thenL Governance Costs These include the cost8 attributable to the cbarity's compliance with constitutional and statutory requirements. including audi( strategic management and trustees meetings and reimbursed expens&s. 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 period in which the related costs are recognised Grants relating to assets are recognised over the expected usefijl life of the &sset. Where part of a grant relating to an asset is deferre it is recogDiscd as deferred income. Page 13
The Stables Trust Limited Notes to the Financial Statements for the Year Ended 30 September 2023 Taxation The charity is considered to pass the tests set out in Parawh I Schedule 6 of the Finance Act 2010 and therefore it meets the defmition of a charitsble company for UK corporation tax purpo8e8. Accordingly. the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part I I 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. Tanglble fixed assets Individual fixed assets costing £100.00 or more are initially recorded at CO8L less any subsequent accumulated depreeiation and subsequent accumulated impainnent losses. Depreelatlon and amortlsation Depreciation is provided on tangible fixed assets so as to write off the cost or valuati. less any estimated residual valu4 over their expected useful economic life as follows: A88et Class Freehold interest in land and buildings Fixtures, fittings and equipment DepreclatioD 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 slow moving stocks. Cost is deterniinal using the first-in, first•OUt (FIFO). Trade debtors Trade debtors are amounts due from customers for merchandise sold or services perfornled in the ordinary course of business. Trade debtors are recognised initially at the transaction price. A provision for the impairnient of trade debtors 18 establisheAI when there is objective evAdence that the Charity will not be able to collect all amounts due according to the original tern]s of the receivables. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-terni highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignifi(t risk of change ID value. Trade credltors Trade creditors ar¢ 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 Uncondition righL at the end of the reporting perio4 to defer settlement of the creditor for at least twelve months aftcr the reporting date. If there is an unconditional right to defer settl¢rnent for at Icast twelve months after the reporting date, they are presented as non-current liabiliti&8. Trade creditors are recognised initially at the transaction pri¢e. Page 14
The Stables Trust Llmited Notes to the Financial Statsments for the Year Ended 30 September 2023 Fund strueture Unrestrictal income fimds are general funds that are available for use at the trustees discretion in fUrtherall of the objectives of the charity. Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees. Restricted income fimds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. 3 Ineome from donations and legacies Unrestricted Total 2023 Total 2022 General Appeals and donations Grants, including capital grants. Government grants Membership subscriptions Sponsorship 7,049 7,049 7,027 9,700 15,806 1.200 9,700 9,786 15,806 14,053 1200 00 33 755 32 066 33 755 4 Income from charltable actlvltles Unre8trieted funds General Total 2023 Total 2022 Admission charg&8 and programmes Bar income Art gallery income Theatre and ¢08tum¢ hire Othff income 119,958 46,699 2.675 2,157 2,674 119,958 46,699 2,675 2.157 2,674 174,163 113,862 31,278 1,956 490 4133 174,163 151,719 S Investment income Unrestrlctsd fund8 General Total 2023 Total 2022 Interest receivable and similar income; Interest receivable on bank deposits 1,000 1,000 82 Page 15
The Stables Trust Limited Notes to the Financial Statements for the Year Ended 30 September 2023 6 Expenditure on charltable acdvities Unrestrlcted funds Designated General Restricted funds Total 2022 Note 2023 Operation of theatre and arts theatre Depreciatio amortisation and other similar costs Governance costs 165,482 165,482 151,456 100 14,172 1,285 13 15,557 16,412 600 100 179.654 1,285 181,039 168.468 Acdvity undertaken dtrectty 2023 2022 Productions costs Bar purchases Training Art gallery costs , Estsblislllnent costs Repairs and maintenance Office expenses Printin& posting and stationery Sundry and other costs Cleaning and refuse Marketing Bank Charg and credit card charg Depreciati(m of tangible fixed assets 60,734 26,395 60.734 26,395 59,953 19,295 375 1.965 21,510 8,104 8,012 1,468 803 12.448 9,917 7,207 16411 2,824 23,822 12,763 9,674 1,809 43 10.926 9,034 7,459 15,556 181,039 2,824 23,822 12,763 9,674 1,809 43 10.926 9.034 7,459 15,556 181,039 167 468 £179,754 (2022 - £167.120) of the above expenditure was attributable to unrestricted funds and £1.285 (2022 - £1,348) to restricted funds. Page 16
The Stables Trust Limited Notes to the Financial Statements for the Year Ended 30 September 2023 7 Stock 2023 2022 Stocks 5,443 2,704 8 Debtor8 2023 2022 Trade debtors Prq)ayments 1,845 4,652 120 5519 6497 5639 9 Cash and Cash equlvalents 2023 2022 Cth on hand Cash at bank 1,563 212,856 214 419 1,563 168,557 170 120 10 Credltors: amounts falllDg due wltlthi one year 2023 2022 Trade creditors Accruals 3,065 9729 3,039 5294 12,794 8,333 Page 17
The Stables Trust Llmited Notes to the Financial Statements for the Year Ended 30 September 2023 11 Funds Balance at I October 2022 Balance at 30 September 2023 Ineomillg resources Resources expended Unrestricted funds General General fund 475,478 207,634 (178,370) 504,742 Designated George Leach Memorial fund Total unrestricted funds 1,744 100 477 222 207 634 178 470 506 386 Re8trieted funds Auditorium and Access Project fund Bar Furniture fund 22,513 532 (1,145) 140 21,368 392 Total restrlcted funds 23 045 1,285 21760 Totsl fuDds 500 267 207 634 179 755 528 146 Page 18
The Stables Trust Limlted Notes to the Finaneial Statements for the Year Ended 30 September 2023 Balance at I October 2021 Incomlng resources Balance at 30 September 2022 Re8ouree8 expended Unrestrlcted funds Genernl General fund 458,627 183,867 (167,016) 475,478 Deslgnated George Leach Memorial fund Total unrestricted ndS 1.848 104 I,744 460 475 183 867 167 120 477 222 Restricted Auditorium and Access Project fund Bar Furniture fimd 23,706 687 (1,193) 155 22,513 532 Totsl restrletsd funds 24 393 1.348 23,045 Total funds 484,868 183,867 168,468 500,267 The specific purposes for which the funds are to be applied are as follows: Designat funds: Fknieral 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 tsbs (stage curtains). Depreciation on the assets financed from the fund are charged against the fund balance. Restricted funds: The Auditorium and Acc¢ss Project fimd was to raise funds for that project. These included a grant from Arts Council England and the Seat Sponsors Scheme. Depreciation on the ass&s financal from the fund is char81 against the fund balance. The Bar Furniture fund consists of a grant from the Isobel Blackman Foundati(m towards the cost of new bar firniture. Depreciation on th¢ assets fiDanced from the fund is charged against the fund balance. Page 19
The Stables Trust Limited Notes to the Financial Statements for the Year Ended 30 September 2023 Analysls of net assets betsveen fuDds Total funds at 30 September 2023 Unrestrieted funds General Designated Restrlcted funds Tangible fixed assets Current assets Current liabilities 291,077 226,359 12,794 1,744 21,760 314,581 226,359 12 794 Total net assets 504 642 1.744 21760 528 146 Total funds at 30 September 2022 Unrestrieted fund8 General Deslgnated Restricted funds Tangible fixed assets 305,248 178,463 8,333 475 378 1.844 23,045 330,137 178,463 8333 Current liabilities Total net assets 23 045 500 267 12 Trustees remuneration and expenses No tntees, nor any persons connected with them, have received any remuneration from th¢ charity during the year. No trustees have received any reimbursed expenses from the charity during the year. Page 20
The Stables Trust Limited Notes to the Financial Statements for the Year Ended 30 September 2023 13 Analysls of governance and support eosts Governance costs Totsl 2023 Total 2022 Accountancy fees Other fees paid to accountants 600 600 14 Net ineomingloutgolng resource8 Net incoming resources for the year include: 2023 2022 Depreciation of fixed assets 15,557 16,412 15 Staff costs The Trust does not employ people. There were no employees in this financial period, n(x in 2022. Page 21
The Stables Trust Limited Notes to the Financial Statements for the Year Ended 30 September 2023 16 Tanglble fixed assets Land and buildings Furniture and equipment Total Cost At l October 2022 346 202 257 182 603 384 At 30 September 2023 Depreclatlon At l October 2022 Charge for the year At 30 September 2023 Net book value 346,202 257 182 603 384 125.978 5,149 147.269 10 407 273,247 15 556 131 127 157,676 288 803 At 30 September 2023 At 30 September 2022 215 075 99,506 314,581 220,224 109 913 330 137 17 Taxadon The cbarity is a registered charity and 18 therefore exempt from Corporation TaL Page 22