2021-06-30-accounts - Middlesbrough Little Theatre Limited

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

The Middlesbrough Little Theatre Limited

Legal and Administrative Information

Directors and Trustees

Chairman	Mr R Burton (resigned April 2021)
Hon.Secretary	Mrs C M Henderson
Hon.Treasurer	Mrs G.Metcalfe (resigned April 2021)
Elected members	Mrs M L Anderson, Mr M J Crooks, Mr J. A Harrison, Mr N.J.S.Holford,
	Mrs C A Lee, Mrs C J McEwan, Mrs C W Narey,
	Mrs G.Sigsworth-Goulding, Mr R Tunnicliffe,
Company Number	572515
Charity Number	222426
Registered Office	Toft House
and Principal	The Avenue
Place of Business	Middlesbrough
	TS5 6SA
Bankers	HSBC Bank plc
	60 Albert Road
	Middlesbrough
	TS1 1RS
Independent Examiners Jones Harper
	Chartered Accountants
	25 Roseberry Road
	Billingham
	TS23 2SD

The Middlesbrough Little Theatre Limited

Report of the trustees for the year ending 30th June 2021

The trustees, who are also directors of the charity for the purposes of the Companies Act, present their Annual Report and the Financial Statements for the year ended 30th June 2021.

Objects of the Charity, Principal Activities and Organisation of Our Work

The charity is constituted as a company limited by guarantee and is therefore governed by a Memorandum and Articles of Association.

The charity’s object and its principal activity continues to be that of promoting, maintaining, improving and advancing education partially by producing educational plays and encouragement of the art of drama, mime, dancing, singing and music. The charity is organised so that the trustees, known as the Executive Committee, meet regularly to manage its affairs.

The trustees have paid due regard to guidance on public benefit issued by the Charity Commission in deciding what activities the charity should undertake.

Structure, Governance and Management

The organisation is a charitable company limited by guarantee, incorporated on 5th October 1956 and registered as a charity on 24th September 1963. The company was established under a Memorandum of Association, which established the objects and powers of the Charitable Company and is governed under its Articles of Association. In the event of its being wound up, members are required to contribute an amount not exceeding thirteen pence.

The directors of the company are also charity trustees for the purpose of charity law and under the company’s articles who are known as the Executive Committee and are elected for a period of one or three years at the Annual General Meeting.

Developments, Activities and Achievements

Sadly, because of the COVID-19 crisis, we were not able to perform any plays during the year, Plays that would comply with the restrictions, having a cast of one or two persons only, were chosen for autumn 2020 – Alan Bennett’s Talking Heads, Love Letters by A.R.Gurney and Twinkle by Philip Meeks. Unfortunately, as cases of the virus were rising in our area, the local authority closed the theatre. The plays were postponed until autumn 2021.

The youth section of the company, Middlesbrough Youth Theatre, has continued throughout the pandemic rehearsing their next productions Cats and Bugsy Malone always following the COVID restriction guidelines. The musicals were to be performed in November 2020, but were postponed until summer 2021 and then further postponed until 2022.

Future Developments

The performing licence for Love Letters was withdrawn by the agent. It was decided to perform Bouncers by John Godber instead in July 2021. Talking Heads and Twinkle are to be performed in October and November 2021.

The Youth Theatre will perform a review in November 2021 entitled Crescendo.

Investments policy and returns

Under the Memorandum and Articles of Association, the charity has the power to make any investment which the trustees see fit. The trustees have considered the most appropriate policy for investing funds is in building society and bank accounts. The trustees consider the return on investment to be extremely low in the current financial situation.

Reserves

The present level of funding is adequate to support the continuation of the productions in the theatre. It is the policy of the charity to maintain unrestricted funds at a level which equates to over twelve months expenditure, providing sufficient funds to cover management and administration. The company has maintained this level of reserves throughout the pandemic, in spite of the lack of income from productions.

Directors and Trustees

All trustees are also directors of the company and there are no other directors.

Risk management

The trustees actively review the major risks which the company faces on a regular basis and believe that maintaining reserves at current level, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational business risks faced by the Charity and confirm that they have established systems to mitigate the significant risks.

Statement of Trustees responsibilities

Company law requires the Trustees prepare financial statements for each financial year which give a true and fair view of the state of the financial activities of the Charity and its financial position at the end of that year. In preparing those financial statements, the Trustees are required to;-

Select suitable accounting policies and then apply them consistently
Make judgments and estimates that are reasonable and prudent
State whether the policies adopted are in accordance with the Companies act 2006 and with applicable accounting standards and statements of recommended practice subject to any material departures disclosed and explained in the financial statements
Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the Charity will continue in operation

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approval

This report was approved by the board of directors and trustees on 6th October 2021 and signed on its behalf.

Independent Accountant’s Report to the Executive Committee of The Middlesbrough Little Theatre Limited

In order to assist you to fulfil your duties under the Companies Act 2006, I have compiled the financial statements of the charitable company from the accounting records and information and explanations you have given.

This report is made to the Charity’s Executive Committee, as a body, in accordance with the terms of my engagement.

My work has been undertaken so that I might compile the financial statements I have been engaged to compile, report to the Charity’s Executive Committee that I have done so, and state those matters I have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity’s Executive Committee, as a body, for my work or for this report.

You have acknowledged your duty to ensure that the charity has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the charity is exempt from the statutory requirement for an audit for the year ended 30th June 2021.

Stephen Jones ACA Jones Harper Accountants 25 Roseberry Road Billingham TS23 2SD

November 2021

Middlesbrough Little Theatre Limited Statement of financial activities(incorporation an Income & Expenditure Account) for the year ended 30th June 2021

INCOMING RESOURCES

Incoming resources from generated funds

----- Start of picture text -----
Restricted Unrestricted 2021 2020
Note £ £ £ £
Voluntary income:
Members' subscriptions 2 26,962 26,962 24,379
Donations 3 4,691 0 4,691 0
Activities generating funds
Fundraising 4 3,398 3,398 2,866
Investment income
Bank interest received 8 8 165
Total 4,691 30,368 35,059 27,410
----- End of picture text -----

Incoming resources from charitable activities

----- Start of picture text -----
Restricted Unrestricted 2021 2020
Note £ £ £ £
Production income
Adult Theatre 0 0 1,927
Youth Theatre 0 0 19,100
Other income 5 0 0 1,480
Total 0 0 0 22,507
TOTAL INCOMING RESOURCES 4,691 30,368 35,059 49,917
----- End of picture text -----

Middlesbrough Little Theatre Limited

Statement of financial activities (incorporation an Income &Expenditure Account) for the year ended 30th June 2021

RESOURCES EXPENDED

Note	Restricted Unrestricted 2021 2020
	£ £ £ £
*Charitable activities:*
Cost ofproductions:-
Adult Theatre	1,778 1,778 1,945
Youth Theatre	8,742 8,742 24,647
Theatre runningcosts 6	18,734 18,734 26,405

*Governance costs*
Management and administration 7	2,018 2,018 2,344

TOTAL RESOURCES EXPENDED RESOURCES RECEIVED LESS EXPENDED 8 FUNDS BROUGHT FORWARD FUNDS CARRIED FORWARD
	0 31,272 31,272 55,341
	4,691 -904 3,787 -5,424 8,026 165,978 174,004 179,428
	12,717 165,074 177,791 174,004

Middlesbrough Little Theatre Limited Balance Sheet as at 30th June 2021

2021 £ £ 2,203 32,337 145,408 177,745 2,157 175,588 177,791 12,717 165,074 177,791	2021 £ £ 2,203 32,337 145,408 177,745 2,157 175,588 177,791 12,717 165,074 177,791	2020 £ £ 2,693 9,341 163,749 173,090 1,779 171,311 174,004 8,026 165,978 174,004	2020 £ £ 2,693 9,341 163,749 173,090 1,779 171,311 174,004 8,026 165,978 174,004
32,337 145,408		9,341 163,749
177,745 2,157		173,090 1,779
	177,791		174,004
	12,717 165,074		8,026 165,978
	177,791		174,004

2 MEMBERS' SUBSCRIPTIONS

2 MEMBERS' SUBSCRIPTIONS
MLT Youth Theatre 3 DONATIONS Lew Oliver General donations 4 FUNDRAISING INCOME Coffee mornings MYT fundraising 5 OTHER INCOME Programme advertising Others 6 COMPANY RUNNING COSTS Rent Rates and council tax Staff costs Heating & lighting Insurance Postage printing stationery & advertising General repairs Sundries Depreciation 7 MANAGEMENT & ADMIN. Restricted spend Accountancy & bookkeeping	2021 2020 £ £ 3,868 3,322 23,094 21,057
	26,962 24,379
	4,691 0 0
	0 285 3,398 2,581
	3,398 2,866
	0 935 0 545
	0 1,480
	625 625 712 1,047 13,203 13,205 909 1,746 988 1,218 1,433 1,741 0 5,408 371 939 493 476
	18,734 26,405
	400 2,018 1,944

8 NET MOVEMENT IN FUNDS This is stated after charging 9 TANGIBLE FIXED ASSETS Cost As at 1st July 2020 Additions As at 30th June 2021 Depreciation As at 1st July 2020 Charge for year As at 30th June 2021 Net book value 10 DEBTORS 11 CREDITORS FALLING DUE WITHIN ONE YEAR	Depreciation Accountancy Leasehold improvements 17,421 -	2021 2020 £ £ 493 476 2,018 1,944 Fixtures & equipment Total 17,203 34,624 - 0
	17,421	17,203 34,624
	15,613 271	16,315 31,928 222 493
	15,884	16,537 32,421
	1,537	666 2,203
	Prepayments Due after one year:- Loan to Theatre Club Accruals and creditors	2021 2020 £ £ 354 0 31,983 9,341
		32,337 9,341
		2,157 1,779
		2,157 1,779

12 ANALYSIS OF ASSETS

12 ANALYSIS OF ASSETS
Tangible fixed assets Net other assets 13 STATEMENT OF FUNDS Unrestricted funds Restricted funds: Lew Oliver fund Building fund TOTAL FUNDS	Restricted, Lew Oliver Fund Restricted, Building Fund Unrestricted Total £ £ £ £ 2,203 2,203 4,762 7,955 162,871 175,588
	4,762 7,955 165,074 177,791
	As at 1st July 2020 Income Spend As at 30th June 2021 165,978 30,368 31,272 165,074
	71 4,691 4,762 7,955 - - 7,955
	8,026 4,691 0 12,717
	174,004 35,059 31,272 177,791