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HIGHBURY THEATRE CENTRE LIMITED (A COMPANY LIMITED BY GUARANTEE)
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023
COMPANY NO: 00463046 CHARITY NO: 223923
HIGHBURY THEATRE CENTRE LIMITED
CONTENTS TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023
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| Contents | Pages |
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| Legal and Administrative Information | 1 |
| Report ofthe Directors and Trustees | 2-4 |
| Auditors’ Report | 5-7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9-10 |
| Notes to the Financial Statements | 11-17 |
| Appendices | 18-23 |
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HIGHBURY THEATRE CENTRE LIMITED
LEGAL & ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 JULY 2023
Directors & Trustees Stephen Bowyer — Chairman Philip Owen — Company Secretary and Finance Director Alison Cahill — Vice Chair Sheila Knapman (Resigned 27 March 2023) Gwen Evans Robert Phillips Elizabeth Parry Sandra Haynes Nicholas Whitehouse (Resigned 23 October 2023) Richard lrons Ken Agnew (Appointed 6 February 2023) Martin Walker (Appointed 6 February 2023) Registered Office Sheffield Road Sutton Coldfield West Midlands B73 5HD Bankers The Co-operative Bank pic 1 Balloon Street Manchester M60 4EP Auditors Haslehursts Limited 88 Hill Village Road Four Oaks. Sutton Coldfield West Midlands B75 5BE
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HIGHBURY THEATRE CENTRE LIMITED
TRUSTEES REPORT FOR THE YEAR ENDED 31 JULY 2023
The directors and trustees present their annual report and the audited financial statements of the charity for the year ended 31 July 2023. The directors and trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (FRS 102) in preparing the annual report and financial statements of the charity.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Companies Act 2006 and 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 published in October 2019.
The Charity is a charitable company limited by guarantee and was set up on 3 January 1949.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Document
The Charity is controlled by its governing document, the Memorandum and Articles of Association, and constitutes a limited company, limited by guarantee as defined by the Companies Act 2006.
Organisational Structure
The trustees govern via the full board of trustees in accordance with the governing documents.
Risk Review
The directors and trustees have conducted a review of the major risks to which the Charity is exposed and systems have been established to mitigate those risks. No significant external risks to funding have been identified. Internal risks are minimised by the personal involvement of the Trustees in all transactions of the company. These procedures are periodically reviewed to ensure that they still meet the needs of the Charity.
OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT
Objectives and Aims
Our aim is to raise, develop and re-define the standards of community theatre.
Public Benefit
The trustees have complied with the duty in Section 4 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charities Commission.
The Highbury Theatre Centre Limited was established for the public benefit to promote, maintain, improve and advance education through the performance and practising arts, including drama, mime, dance, film, music and visual arts.
Volunteers
The Charity is continuing its objective of encouraging the involvement of a wide range of people in its community activities, and it is largely dependent upon the unpaid help of the trustees and other theatre members in pursuing its activities.
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HIGHBURY THEATRE CENTRE LIMITED
TRUSTEES REPORT (continued) FOR THE YEAR ENDED 31 JULY 2023
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ACHIEVEMENTS AND PERFORMANCE
Theatre Activities
Income from theatre activities amounted to £81,892 (2022: £53,114). Costs of theatre activities amounted to £106,851 (2022 - £97,882).
The theatre tries to include a creative and challenging programme of stage performances which may or may not be seen at other theatres nationally but are of an interest to our patrons.
| Productions during the year | Attendance % |
|---|---|
| lt runs in the family | 58% |
| Art | 25% |
| The strange case of Dr Jekyll and Mr Hyde | 44% |
| The farndale avenue housing estate townswomen’s guild dramatic society murder | 74% |
| myster | |
| Death of a salesman | 51% |
| Blood brothers | 76% |
| Calender girls | 74% |
| Love, love, love (studio) | 72% |
| DiandVivandRose(studio) | 93% |
The theatre also hires out their facilities for other theatres to stage their productions and also allows local artists to display their works to our patrons.
Investment Performance
investment properties generated a rental income of £29,655 (2022 - £30,460) for the year.
Financial Review
The net surpius in funds of £110,227 (2022 — deficit £15,137) has been transferred to reserves.
Accumulated funds carried forward at 31 July 2023 were £1,901,945 (2022 - £1,791,718).
Future Strategic Plan
The charity has a full programme of performances planned for the forthcoming year. it will continue to be actively involved in the local community and encourage participation throughout.
Trustees of the Charity
The directors of the charitable company are its trustees for the purposes of charity law. The trustees who have served during and since are shown on page 1.
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HIGHBURY THEATRE CENTRE LIMITED
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TRUSTEES REPORT (continued) FOR THE YEAR ENDED 31 JULY 2023
Trustees’ Responsibilities
The trustees (who are also directors of Highbury Theatre Centre Limited for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the directors and 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 ofthe[state][of][ affairs][of][ the][charitable] company and[of] the incoming resources and[application] of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the directors and trustees are required to:
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e select suitable accounting policies and then apply them consistently; * observe the methods and principles in the Charities SORP 2019 (FRS102); * make judgements and estimates that are reasonable and prudent; e state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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e prepare the financial statements on the going concern basis, unless it is inappropriate to presume that the charitable company will continue in operation.
The directors and trustees are responsible for keeping adequate accounting records that 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.
in so far as the trustees are aware:
- e there is no relevant audit information of which the charitable company's auditor is unaware; and e the directors and trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.
Auditors A resolution proposing that Haslehursts be reappointed as auditors of the charity will be put to the Trustees Board Meeting.
Approved by the Directors and Trustees on #S-0% 2024, and signed on their behalf by:
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Philip Owen Director and Trustee
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HIGHBURY THEATRE CENTRE LIMITED
INDEPENDENT AUDITORS REPORT TO THE TRUSTEES OF HIGHBURY THEATRE CENTRE LIMITED
Opinion
We have audited the financial statements of Hightbury Theatre Centre Limited (the ‘charitable company’) for the year ended 31 July 2023 which comprise of Statement of Financial Activities, Balance Sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
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e give a true and fair view of the state of the charitable company’s affairs as at 31 July 2023, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
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e have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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- have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern.
In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
’ Other information
The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
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We have nothing to report in this regard.
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HIGHBURY THEATRE CENTRE LIMITED
INDEPENDENT AUDITORS REPORT TO THE TRUSTEES OF HIGHBURY THEATRE CENTRE LIMITED
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
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e the information given in the trustees’ report is inconsistent in any material respect with the financial statements; or
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e sufficient accounting records have not been kept; or e the financial statements are not in agreement with the accounting records; or e we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the trustees’ responsibilities statement set out on page 4, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We focused on laws and regulations which could give rise to a material misstatements in the annual report, including, but not limited to the Charities Act 2011. Our tests included agreeing the annual report disclosures to underlying supporting documentation, enquiries with management and third party representatives. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the annual report, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.
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HIGHBURY THEATRE CENTRE LIMITED
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INDEPENDENT AUDITORS REPORT TO THE TRUSTEES OF HIGHBURY THEATRE CENTRE LIMITED
Auditor’s responsibilities for the audit of the financial statements (continued)
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of the instances of noncompliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities is available on the FRC's website at: httos://www.fre.org.uk/auditors/audit-assurance/auditor-s-responsibilities-for-the-audit-of-the-fi/description-ofthe-auditor%E2%80%99s-responsibilities-for. This description forms part of our auditor's report.
Use of our report
This report is made solely to the charitable company’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
For and on behalf of Haslehursts Limited Chartered Accountants Statutory Auditor 88 Hill Village Road Four Oaks Sutton Coldfield West Midlands B75 5BE
Date !'S5 OW . 202%
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HIGHBURY THEATRE CENTRE LIMITED
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STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2023
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|Unrestricted|Restricted|Unrestricted|
|Funds|Funds|Total|Funds|Total|Funds|
|2023|2023|2023|2022|
|Notes|£|£|£|£|
|Income|and|endowments|from|
|Donations,|legacies|and|grants|2|53,615|62,276|115,891|10,248|
|Investment|income|3|30,070|-|30,070|30,584|
|Charitable|activities|
|Bar and|catering|income|18,172|-|18,172|13,620|
|Players|income|18,561|-|18,561|12,511|
|Theatre|income|44,625|-|44,625|26,304|
|Film|club|income|534|-|534|682|
|Total|income|and|endowments|165,577|62,276|227,853|93,946|
|Expenditure|
|Raising|funds|4|3,652|-|3,652|4,965|
|Charitable|activities|5|113,559|-|113,559|104,118|
|Total|expenditure|117,211|-|117,211|109,083|
|Net surplus|/ (deficit)|48,366|62,276|110,642|(15,137)|
|Net|movement|in|funds|48,366|62,276|110,642|(15,137)|
|Reconciliation|of funds|
|Total|funds|brought|forward|15|1,791,718|-|1,791,718|1,806,855|
|Total funds|carried forward|1,840,084|62,276|1,902,360|1,791,718|
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HIGHBURY THEATRE CENTRE LIMITED
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BALANCE SHEET AS AT 31 JULY 2023
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|2023|2022|
|Notes|£|£|
|Fixed|Assets|
|Tangible|assets|9|808,684|797,834|
|Investment|properties|11|800,000|800,000|
|1,608,684|1,597,834|
|Current|Assets|
|Stock|12|1,017|1,061|
|Debtors|13|17,960|17,126|
|Cash|at|bank|and|in|hand|297,693|195,436|
|316,670|213,623|
|Creditors|falling|due|within|one|year|14|(22,994)|(19,739)|
|Net|Current Assets|293,676|193,884|
|Total Assets|less|Current|Liabilities|1,902,360|1,791,718|
|Net Assets|1,902,360|1,791,718|
|Funds|
|Restricted|funds|62,276|-|
|Unrestricted|funds|1,840,084|1,791,718|
|Total Funds|17|1,902,360|1,791,718|
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HIGHBURY THEATRE CENTRE LIMITED
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BALANCE SHEET (continued) AS AT 31 JULY 2023
The company is entitled to the exemption from audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 July 2023, although an audit has been carried out under section 144 of the Charities Act 2011.
The Trustees acknowledge their responsibilities for complying with the requirements of Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The Financial Statements were approved by the directors and the trustees on JAS Shy toe
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S BowyerDirectorMapbr.and Trustee
A Cahill [oa
Director and Trustee
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Company registration number: 00463046
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HIGHBURY THEATRE CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023
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- ACCOUNTING POLICIES
Basis of preparation
Highbury Theatre Centre Limited is a registered incorporated charity registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
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 in October 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006 and UK Generally Accepted Accountancy Practice.
The charity constitutes a public benefit entity as defined by FRS102. The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The significant accounting policies applied in the preparation of these financial statements are set out below. The policies have been consistently applied to all years presented unless otherwise stated.
Company status The charity is a company limited by guarantee. The members of the company are the trustees named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.
Income recognition
Income is included in the accounts as soon as the charity has entitlement to the resources, it is certain that the resources will be received, and the amount is known.
No amount is included in the financial statements for volunteer time in line with the SORP (FRS102). Further detail is given in the Directors and Trustees Reports.
The charity received government grants in respect of Covid-19. Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received, and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.
Expenditure recognition
Expenditure, and any associated liability is recognised when there is legal or constructive obligation committing the charity to the expenditure.
- e Direct charitable expenditure — these include costs allocated to the direct generation of income. e Other expenditure — these are all other costs associated with charity governance, depreciation, and administrative expenses.
Tangible fixed assets and depreciation
Depreciation is being charged by annual instalments commencing with the year in which the assets are first available for use, so as to write off each asset's cost, less any residual value, over its anticipated useful economic life. The following rates of depreciation have been used:
Freehold Buildings - 2% Straight line Plant & Equipment - 10% Reducing balance
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HIGHBURY THEATRE CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 JULY 2023
- INCOME FROM DONATIONS AND LEGACIES
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Revaluation of tangible fixed assets
Under previous UK GAAP the company had a policy of revaluing freehold land and buildings. On transition to FRS102 the charity has elected to use the previous revaluation at 31 July 2013 as the deemed cost for those assets.
investment properties
Investment properties are measured at fair value at each reporting date with changes in fair value recognised in net gains/(losses) on investments in the SOFA.
Stock
Stock has been valued at the lower of cost and net realisable value.
Short term debtors and creditors
Debtors and creditors receivable or payable within one year are recorded at transaction price.
Fund accounting
Unless otherwise stated all funds belonging to and generated by the charity are unrestricted in nature, and can be expended by the trustees, for the furtherance of the objects of the charity, at their discretion.
Restricted funds are subject to specific conditions by donors or grantors as how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Going concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising the financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |
|---|---|---|---|---|---|---|
| funds | funds | 2023 | funds | funds | 2022 | |
| 2023 | 2023 | £ | 2022 | 2022 | £ | |
| £ | £ | £ | £ | |||
| Donations Legacies |
413 53,202 |
. 62,276 |
413 115,478 |
10,248 - |
- - |
10,248 - |
| 53,615 | 62,276 | 115,891 | 10,248 | - | 10,248 |
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HIGHBURY THEATRE CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 JULY 2023
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3. INVESTMENT INCOME
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Bank interest | 415 | 124 | |
| Rent received | 29,655 | 30,460 | |
| 30,070 | 30,584 | ||
| 4. | INVESTMENT MANAGEMENT COSTS | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Investment property letting agents fees | 3,652 | 4,965 | |
| 5, | CHARITABLEACTIVITIES COSTS | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Bar and catering costs | 9,030 | 7,614 | |
| Development costs | 15,799 | 5,796 | |
| Players — costs | 14,185 | 14,063 | |
| Theatre — costs | 46,206 | 52,340 | |
| Film club — costs | 930 | 718 | |
| Depreciation | 20,701 | 17,351 | |
| Governance costs | 6,708 | 6,236 | |
| 113,559 | 104,118 |
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HIGHBURY THEATRE CENTRE LIMITED
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NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 JULY 2023
6. GOVERNANCE COSTS
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2023 | 2022 | |
| £ | £ | |
| Accountancy | 2,668 | 2,075 |
| Auditors remunerations | 4,040 | 4,161 |
| 6,708 | 6,236 |
7. TRUSTEES REMUNERATION
The trustees did not receive remuneration, benefits or expenses other than the reimbursement of expenses incurred on behalf of the charity
8. TAXATION
The company is a registered charity, therefore no provision for taxation is considered necessary.
9. TANGIBLE FIXED ASSETS
| Freehold | Plant and | ||
|---|---|---|---|
| property | equipment | Total | |
| COST 1 August 2022 |
807,230 | 107,420 | 914,650 |
| Additions Disposals |
- - |
31,551 - |
31,551 - |
| 31 July 2023 | 807,230 | 138,971 | 946,201 |
| DEPRECIATION | |||
| 1 August2022 | 87,415 | 29,401 | 116,816 |
| Charge forthe year | 9,744 | 10,957 | 20,701 |
| Disposals | - | - | - |
| 31 July 2023 | 97,159 | 40,358 | 137,517 |
| NET BOOK VALUE | |||
| 31 July 2023 | 710,071 | 98,613 | 808,684 |
| 31 July 2022 | 719,815 —______ |
78,019 —____ |
797 ,834 ee |
Included in freehold land and buildings is land valued at £320,000 which is not depreciated.
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HIGHBURY THEATRE CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 JULY 2023
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10. TANGIBLE FIXED ASSETS HISTORIC COST
If freehold land and buildings and investment properties had not been revalued they would have been included at the following historical cost:
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| COST | 1,664,127 | 1,664,127 | |
| DEPRECIATION | |||
| Brought forward | 102,306 | 96,959 | |
| Charge for the year | 5,347 | 5,347 | |
| Carried forward | 107,653 | 102,306 | |
| NET BOOKVALUE | 1,556,474 | 1,561,821 | |
| 11. | INVESTMENT PROPERTIES | ||
| 2023 | |||
| COST 4 August 2022 |
800,000 | ||
| Revaluation | - | ||
| NET BOOK VALUE | |||
| 31 July 2023 | 800,000 | ||
| 31 July 2022 | 800,000 | ||
| 12. | STOCKS | ||
| 2023 £ |
2022 £ |
||
| Sundrybarstocks | 1,017 | 1,061 |
12. STOCKS
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HIGHBURY THEATRE CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 JULY 2023
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13. DEBTORS
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Trade debtors | 517 | - | |||
| Prepayments VAT |
13,145 4,298 |
12,817 4,309 |
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| 17,960 | 17,126 | ||||
| 14, | CREDITORS DUE WITHIN A YEAR | ||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Trade creditors | 15,893 | 11,831 | |||
| Accruals | 7,101 | 7,908 | |||
| 22,994 | 19,739 | ||||
| 15. | UNRESTRICTED FUNDS | ||||
| The unrestricted funds ofa charity comprise ofthe unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include |
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| designated fundswhich have been setaside | aside out ofunrestricted funds by the trustees forspecific purposes. | ||||
| Balance at 1 | Incoming | Outgoing | Balance at | ||
| August 2022 | Resources | Resources | 31 July 2023 | ||
| General funds | 1,791,718 | 165,577 | (117,211) | 1,840,084 | |
| Previous year: | |||||
| General funds | 1,806,855 | 93,946 | (109,083) | 1,791,718 | |
15. UNRESTRICTED FUNDS
16. RESTRICTED FUNDS
The restricted funds of a charity comprise of the balances of donations and grants which are subject to specific conditions by donors and grantors as to how they may be used.
| Balanceat 1 August 2022 |
Incoming Resources |
Outgoing Resources |
Balanceat 31 July 2023 |
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| General | funds | - | 62,276 | - | 62,276 |
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HIGHBURY THEATRE CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 JULY 2023
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17. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Unrestricted Funds |
Restricted Funds |
Total Funds |
|
|---|---|---|---|
| 2023 | 2023 | 2023 | |
| £ | £ | £ | |
| Fund balances as at31 July2023 are represented | |||
| by: | |||
| Tangible assets | 808,684 | - | 808,684 |
| Investment properties | 800,000 | - | 800,000 |
| Current assets | 231,400 | 62,276 | 293,676 |
| 1,840,084 | 62,276 | 1,902,360 | |
| Unrestricted | Restricted | Total | |
| Funds | Funds | Funds | |
| 2022 | 2022 | 2022 | |
| £ | £ | £ | |
| Fund balances as at 31 July 2022 are represented | |||
| by: | |||
| Tangible assets | 797,834 | - | 797,834 |
| Investment properties | 800,000 | - | 800,000 |
| Current assets | 193,884 | - | 193,884 |
| 1,791,718 | - | 1,791,718 |
18. ULTIMATE CONTROLLING PARTY
There is no ultimate controlling party.
19. RELATED PARTIES
The charity has no related parties other than its directors and trustees.
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HIGHBURY THEATRE CENTRE LIMITED
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DETAILED STATEMENT OF FINANCIAL ACTIVITIES For the Year Ended 31 July 2023
| Income and endowments from: | 2023 | 2022 | ||
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Donations, legacies and grants | ||||
| Donations | 115,891 | 10,248 | ||
| 115,891 | 10,248 | |||
| investment Income | ||||
| Bank interest | 415 | 124 | ||
| Rents received | 29,655 | 30,460 | ||
| 30,070 | 30,584 | |||
| income from charitable activities | ||||
| Bar sales | 10,579 | 8,962 | ||
| Catering sales | 7,593 | 4,658 | ||
| Box office receipts Players -Membershipand boxoffice |
35,242 17 785) |
16,467 11,429 |
||
| Players - Programme sales | 906 | 1,082 | ||
| Theatre - Centre membership | 1,391 | 1,460 | ||
| Theatre - Commission from exhibitions | 130 | 27 | ||
| Theatre - Hire receipts | 7,732 | 8,347 | ||
| Film club | 534 | 682 | ||
| «84,892 | 53,114 | |||
| Total IncomeandEndowments | 227,853 | 93,946 | ||
| Expenditure | ||||
| Raising Funds | ||||
| Investment property management fees | 3,652 | 4,965 | ||
| Charitable Activities | ||||
| Bar purchases | 6,453 | 5,566 | ||
| Catering purchases | 2,577 | 2,048 | ||
| Development - Repairs and Maintenance | 15,799 | 5,796 | ||
| Players - Scripts | 1,059 | 378 | ||
| Players - Costumes | 92 | 1,072 | ||
| Players - Props | 2,202 | 715 | ||
| Players - Sets | 1,416 | 2,318 | ||
| Players - Sound & Light | 492 | 84 | ||
| Players - Royalties Players - Production sundries |
4,175 452 |
5,710 718 |
||
| Carriedforward | 34,717 | 24,405 |
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HIGHBURY THEATRE CENTRE LIMITED
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DETAILED STATEMENT OF FINANCIAL ACTIVITIES For the Year Ended 31 July 2023
----- Start of picture text -----
|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|tt|
|Brought|forward|34,717|24,405|
|Players|-|Programmes|2,842|1,280|
|Players|-|St John|Ambulance|1,425|1,125|
|Players|-|Affiliation|fees|30|148|
|Players|-|LTG|Membership|&|expenses|105|105|
|Players|-|PRS|&|PPL|375|410|
|Theatre|-|Rates|658|531|
|Theatre|-|Water|3,033|2,512|
|Theatre|-|Insurance|9,529|8,524|
|Theatre|-|Light|&|Heat|6,343|7,445|
|Theatre|- Telephone|2,455|1,801|
|Theatre|-|Postage|680|408|
|Theatre|-|Repairs|&|maintenance|17,116|21,065|
|Theatre|-|Printing|&|Stationary|943|1,031|
|Theatre|-|Marketing|&|Season|Guides|116|2,726|
|Theatre|-|Cleaning|3,543|4,804|
|Theatre|-|Credit|Card|Charges|667|633|
|Theatre|-|Premises|Licence|368|180|
|Theatre|-|Sundry|expenses|275|680|
|Theatre|-|Depreciation|20,701|17,351|
|Theatre|-|Loss|on|disposal|of|fixed|assets|-|-|
|Film|club|-|expenses|930|718|
|106,851|97,882|
|Governance|Costs|
|Auditors’|remuneration|4,040|4,161|
|Bookeeping|2,668|2,075|
|6,708|6,236|
|Total|Expenditure|117,211|109,083|
|Net|Incoming|/|(Outgoing)|Resources|110,642|(15,137)|
|Net movement|in funds|for the year|110,642|(15,137)|
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HIGHBURY THEATRE CENTRE LIMITED
APPENDIX 1
For the Year Ended 31 July 2023
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|ir|
|Bar|Income|&|Expenditure|Account|
|For the|Year Ended|31|July|2023|2023|2022|
|£|£|
|Bar|sales|10,579|8,962|
|Less:|Bar|purchases|(6,453)|(5,566)|
|Surplus|/|(Deficit)|for|the|year|4,126|3,396|
|Catering|Income|&|Expenditure|Account|
|For the|Year Ended|31|July|2023|2023|2022|
|£|£|
|Catering|sales|7,593|4,658|
|Less:|Catering|purchases|(2,577)|(2,048)|
|Surplus|for the year|5,016|2,610|
|Film|club|Income &|Expenditure Account|
|For the|Year|Ended|31|July|2023|2023|2022|
|Film|Club|Income|534|682|
|Less:|Expenses|(930)|(718)|
|(Deficit)/Surplus|for the year|(396)|(36)|
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HIGHBURY THEATRE CENTRE LIMITED
APPENDIX 2
For the Year Ended 31 July 2023
Development Income & Expenditure Account For the Year Ended 31 July 2023
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|---|---|---|---|---|---|
|2023|2022|
|£|£|£|£|
|Rental|Income|29,655|30,460|
|Less:|Expenditure|
|Repairs|&|Maintenance|15,799|5,796|
|Management|fees|3,652|4,965|
|—|(49,451)|(10,761)|
|Total|investment|property|income|10,204|19,699|
|Other|Income|
|Donations|413|10,248|
|Legacies|(Unrestricted)|53,202|-|
|Legacies|(Restricted)|62,276|-|
|Interest|received|415|124|
|Surplus|for the year|126,510|30,071|
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HIGHBURY THEATRE CENTRE LIMITED
APPENDIX 3 For the Year Ended 31 July 2023
i Players Income & Expenditure Account For the Year Ended 31 July 2023
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| For the Year Ended 31 July 2023 | |||||
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| £ | £ | £ | £ | ||
| Income | |||||
| Box Office receipts Players membership Programme sales |
16,905 880° 906" |
— | 10,681 748 1,082 |
||
| 18,691 | 12,511 | ||||
| Less: Expenditure | |||||
| Scripts | 1,059 | 378 | |||
| Costumes | 92 | 1,072 | |||
| Props | 2,202 | 715 | |||
| Sets | 1,416 | 2,318 | |||
| Sound & Light | 492 | 84 | |||
| Royalties | 4,175 | 5,710 | |||
| Production sundries | 452 | 718 | |||
| Programmes | 1,730 | 1,280 | |||
| St John Ambulance | 1,425 | 1,125 | |||
| Affiliation fees | 30 | 148 | |||
| LTG membership | 105 | 105 | |||
| PRS & PPL | 375 | 410 | |||
| (13,553) | (14,063) | ||||
| 5,138 | (1,552) |
Page | 22
HIGHBURY THEATRE CENTRE LIMITED
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APPENDIX 4
For the Year Ended 31 July 2023
Highbury Theatre Other Activities income & Expenditure Account For the Year Ended 31 July 2023
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|---|---|---|---|---|---|---|---|
|2023|2022|
|£|£|£|£|
|income|
|Box|office|receipts|35,242|16,467|
|Centre|membership|1,391|1,460|
|Commision|from|exhibitions|130|27|
|Hire|of|theatre|7,732|8,347|
|44,495|26,301|
|Less:|Expenditure|
|Rates|658|531|
|Water|3,033|2,512|
|insurance|9,529|8,524|
|Light|&|Heat|6,343|7,445|
|Telephone|2,455|1,801|
|Postage|680|408|
|Repairs|&|Maintenance|13,114|18,816|
|Computer|support|1,365|1,153|
|Lift|Maintenance|828|481|
|Fire|Alarm|contract|1,809|615|
|Printing|&|Stationary|943|1,031|
|Marketing|&|Season|Guides|1,228|2,726|
|Cleaning|3,543|4,804|
|Credit|Card|charges|667|633|
|Premises|Licence|368|180|
|Sundry|expenses|275|680|
|Depreciation|20,701|17,351|
|Audit|4,040|4,161|
|Bookeeping|2,668|2,075|
|Loss|on|disposal|of|fixed|assets|-|-|
|(74,247)|(75,927)|
|(Deficit)|for the|year|(29,752)|(49,626)|
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