## **NEWPORT PLAYGOERS’ SOCIETY** 

## **COUNCIL’S REPORT AND UNAUDITED FINANCIAL STATEMENTS** 

**FOR THE YEAR ENDED 31[ST] MARCH 2024 REGISTERED CHARITY NUMBER - 232628** 



## **NEWPORT PLAYGOERS’ SOCIETY REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2024** 

## **CONTENTS** 

## **Page** 

1 - 6 Council’s Report 7 Independent Examiner’s Report 8 Statement of Financial Activities 9 - 10 Balance Sheet 11 - 20 Notes to the Financial Statements 



## **NEWPORT PLAYGOERS’ SOCIETY COUNCIL’S REPORT FOR THE YEAR ENDED 31[ST] MARCH 2024** 

The Council presents its annual report and financial statements of the Society for the year ended 31[st] March 2024. The Council has adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1[st] January 2019). 

## **PRESIDENT’S INTRODUCTION** 

Once again, Newport Playgoers' Society has had another busy year putting on a wide variety of plays and it is a reflection on the huge amount of work that our Artistic committee have put into the selection of plays. Of course, the teams who take the plays on have put in an equal amount of work to bring them to life and ensured that they have appealed to a wider audience. I hope that you have enjoyed the season as much as I have. My thanks to our hirers, whilst diminishing in numbers, continue to host an array of excellent musical, dance and drama performances that attract huge audiences, and without whose support, we would not survive. 

This year has seen the introduction of Playgoers Musical company and I am sure you are as thrilled as I am for the exciting things to come from this group. 

My grateful thanks as always must go to all our volunteers who devote so much of their time to the theatre, thus ensuring that we had another successful year. 

This year has been such a positive experience that it shows much promise and energy for our centenary season coming up. 

James Reynolds President 

## **OBJECTS** 

The Society’s principal objects as set out in its constitution and rules are as follows: 

- i) To stimulate an interest in and a study of the Drama and Dramatic Art, and to support all that is best in the Theatre, and with this object in view to keep the plays of Shakespeare in its repertory and to revive whatever else is vital in English Classical Drama. 

- ii) To prevent modern plays of great merit from falling into oblivion. 

- iii) To produce new plays and to further the development of Modern Drama. 

- iv) To produce translations or representations of Foreign Drama, Ancient and Modern. 

- v) To stimulate the art of Acting and for this purpose to hold classes and to give lectures upon play production, voice production, movement, make-up, lighting, mounting and other arts of the Theatre. 

- vi) To support charities and other associations formed for charitable and educational purposes. 

## **PUBLIC BENEFIT** 

The Society is a public benefit entity. The Council has complied with the duty in Section 4 17(5) of the Charities Act 2011 and has referred to the guidance published by the Charity Commission on public benefit when reviewing the Society’s aims and objectives and in planning its future activities. In particular, the Council consider how planned activities will contribute to the aims and objectives it has set. The Society’s activities contribute to the quality of life of the local community through the provision of affordable live theatre performances and by hiring to local groups. In particular, a range of ticket prices including concessions for certain groups, enable all sections of the community to attend performances at the theatre. The refurbishment of the theatre has provided better access for those with mobility difficulties. The Society endeavours to encourage all members of the community to take part in its activities and to attend the theatre. 

## **GOVERNING DOCUMENT** 

The Society is governed by its constitution and rules. 

1 



## **NEWPORT PLAYGOERS’ SOCIETY COUNCIL’S REPORT FOR THE YEAR ENDED 31[ST] MARCH 2024** 

## **RECRUITMENT AND APPOINTMENT OF COUNCIL MEMBERS** 

The Society is managed by its Trustees that are Council Members elected by the Annual General Meeting. Nominations for Members of the Council must be in writing, signed by two members and the nominee, and received by the General Secretary at least 28 days before the Annual General Meeting. 

## **ATTENDANCE OF COUNCIL MEMBERS AT MEETINGS DURING THE 2023/24 SEASON** 

|**Council Member**|**Attendances**|
|---|---|
|James Reynolds|6/6|
|Rebecca Phillips|1/6|
|Lynn Phillips|5/6|
|Alan Trott|5/6|
|Sue Burgess|4/6|
|Hugh Moelwyn-Hughes|6/6|
|James Barrett|5/6|
|Ellie Aston|4/6|
|Steve BissexWilliams|0/6|
|Malcolm Davies|2/6|
|JackGuard|3/6|
|Mike Ford|6/6|
|Emma McCarthy|2/6|
|Stuart Fouweather|2/6|
|Moira Mainwaring|3/6|
|Alan Henshall|6/6|
|Catherine Morgan|3/6|
|Jean Rowe|2/6|
|Nathan Hodge|2/6|
|With effect fromJanuary2024:||
|Ben Hurley|2/4|



## **FINANCIAL REVIEW** 

Details of the Society’s performance for 2023/24 are given in the Statement of Financial Activities on page 8 and the position of the Society at the end of the financial year is given in the Balance Sheet on page 9. The Society’s results for the year includes net gains totalling £23,247 in the market value of its investments in the Charities Official Investment Fund and M&G Investments Charifunds. The Society’s net deficit for the year after accounting for these gains was £11,427 and at the end of the financial year its net assets amounted to £296,946. 

The Society’s total funds at 31[st] March 2024 amounted to £296,946, of which £236,708 are restricted. 

The Society’s key financial aim remains to be a financially sustainable theatre **.** 

## **INVESTMENT POLICY** 

The Council, having regard to the liquidity requirements of operating the theatre, consider the most appropriate policy for investing funds is to place them in deposit accounts and charity investment funds and seek to achieve a rate of return which exceeds inflation. 

## **FUNDRAISING** 

The Council explore fund-raising opportunities which they consider are appropriate to the Society’s objectives and activities. The Society has recently approached a professional fund raising company. 

2 



## **NEWPORT PLAYGOERS’ SOCIETY COUNCIL’S REPORT FOR THE YEAR ENDED 31[ST] MARCH 2024** 

## **RESERVES POLICY** 

Reserves are needed to bridge the gap between the receipt of income and the payment of expenses and to cover unplanned expenditure. It is the policy of the Council to maintain free reserves of the Society in unrestricted funds at a level that equates to approximately three months of expenditure, calculated as being between £55,000 and £60,000 for the forthcoming financial year. 

Free reserves of the Society are arrived at by deducting from total reserves, designated funds and funds representing fixed assets for charitable use. At 31[st] March 2024, the free reserves of the Society, calculated using the above formula, are £40,277. 

## **ACTIVITIES** 

The Society’s major activities are the production of plays and the letting of its facilities to other theatrical societies and groups. The Society places a huge emphasis on the development of young people in the education and encouragement of all aspects of dramatic art and promotes the arts by the provision of facilities for the education and recreation for the public in the community. 

## **ACHIEVEMENTS** 

Achievements this year have been: 

The formation of Playgoer’s Musical Company. A new branch of Playgoers dedicated to musicals. Open evenings for Script and director introductions to their plays. Formation of new Props group and Wardrobe group. 

Nominated for a NODA award in: Outstanding Drama Production Steve Bissex-Williams – Cat on a Hot Tin Roof Moira Mainwaring - Snake in the Grass 

Outstanding Set design and direction Steve Bissex-Williams - Cat on a Hot Tin Roof Chris Gray, Steve Saunders and Lynn Phillips, for the set of Snake in the Grass. 

Outstanding Performance – Drama Adele Cordner – Annabelle Chester – Snake in the Grass Anne Harrison – Miriam Chester – Snake in the Grass Ellie Hoare – Maggie – Cat on a Hot Tin Roof James Symonds – Brick - Cat on a Hot Tin Roof 

## **VOLUNTEERS** 

The Society continues to rely on the support of its many volunteers, including those who assist with the many Front of House duties, enabling the Society to reduce its staff costs. 

## **PLANS FOR FUTURE PERIODS** 

The Council and Management continue to strive to make improvements to the theatre, including accessibility, so that the Dolman remains attractive to its members, guests and hirers. 

3 



## **NEWPORT PLAYGOERS’ SOCIETY COUNCIL’S REPORT FOR THE YEAR ENDED 31[ST] MARCH 2024** 

The NPS 2024/2025 season: 

SEPTEMBER 11th-14th 2024 Director Linda Cleak Shirley Valentine by Willy Russell 

OCTOBER 9th-12th 2024 Director James Reynolds The Haunting of Hill House – by Leslie F.Andrew adapted from the novel by Shirley Jackson 

DECEMBER 11th-14th 2024 Director Ben Hurley Dolman Theatre Works – Cinderella by Ben Croker 

FEBRUARY 5th-8th 2025 Director Emma McCarthy Trivial Pursuits - Frank Vickery 

MARCH 5th-8th 2025 Director Sue Burgess The Actress - Peter Quilter 

APRIL 9th-12th 2025 Director Jack Guard The Unexpected Guest - Agatha Christie 

MAY 5th-8th 2025 Director Moira Mainwaring Bette and Joan by Anton Burge 

JUNE 11th -14th 2025 Director Lynn Phillips Jeeves & Wooster in 'Perfect Nonsense' By The Goodale Brothers Original author P.G. Wodehouse 

Jeeves and Wooster in Perfect Nonsense will also transfer to the Minack Theatre in Porthcurno, Cornwall Sat 5[th] July to Thursday 10[th] July 2025 

4 



## **NEWPORT PLAYGOERS’ SOCIETY COUNCIL’S REPORT FOR THE YEAR ENDED 31[ST] MARCH 2024** 

## **CHARITY REGISTRATION NUMBER:** 232628 

## **TRUSTEES, PRINCIPAL OFFICERS AND OTHER MEMBERS OF COUNCIL** 

James Reynolds Rebecca Phillips 

Lynn Phillips Hugh Moelwyn-Hughes Mike Ford Sue Burgess Eleanor Pinnell Jack Guard Alan Henshall James Barrett Jean Rowe Alan Trott Catherine Morgan Moira Mainwaring Nathan Hodge Stuart Fouweather Malcolm Davies Stephen Bissex-Williams Emma McCarthy Ben Hurley David Eynon-Williams Sam Bashir Keith Poultney Roger Paul Cotton Tia Williams 

President and Chair of Council and Management Vice President Head of Wardrobe Honorary Secretary Financial Advisor – appointed 18[th] July 2023 Treasurer – appointed 18[th] July 2023 Chair of Artistic Committee Head of Lights Secretary Artistic – appointed 18[th] July 2023 Head of Stage Chair of Technical Membership Secretary Honorary Legal Advisor Librarian Head of Bar General Member – appointed 18[th] July 2023 General Member Head of Decor Chair of Front of House Head of Studio Chair of DTW – appointed 22[nd] January 2024 Emeritus President – resigned 18[th] July 2023 Head of Sound – resigned 18[th] July 2023 Financial Advisor – resigned 18[th] July 2023 General member - resigned 18[th] July 2023 Chief Steward - resigned 30[th] August 2023 

## **PRINCIPAL OFFICE** 

Dolman Theatre Kingsway Newport South Wales NP20 1HY 

## **BANKERS** 

The Co-operative Bank Plc Commercial Street Newport NP20 1HU 

## **INDEPENDENT EXAMINER** 

Arthur Gait & Company Limited Chartered Certified Accountants 18 Gold Tops Newport NP20 5WJ 

5 



## **NEWPORT PLAYGOERS’ SOCIETY COUNCIL’S REPORT FOR THE YEAR ENDED 31[ST] MARCH 2024** 

## **INDEPENDENT EXAMINER** 

A resolution to appoint Arthur Gait & Company Limited as the Society’s independent examiner will be proposed at the forthcoming Annual General Meeting. 

Approved by order of the Council on 17[th] January 2025 and signed on its behalf by: 

James Reynolds 

6 



## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF NEWPORT PLAYGOERS’ SOCIETY** 

## **Independent examiner's report to the trustees of Newport Playgoers’ Society** 

I report to the charity trustees on my examination of the accounts of Newport Playgoers’ Society (the Trust) for the year ended 31[st] March 2024. 

## **Responsibilities and basis of report** 

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). 

I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. 

## **Independent examiner's statement** 

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 

1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 

2. the accounts do not accord with those records; or 

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. 

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 

Mahin Khawaja FCCA Association of Chartered Certified Accountants 

Arthur Gait & Company Limited Chartered Certified Accountants 18 Gold Tops Newport NP20 5WJ 

23[rd] January 2025 

7 



## **NEWPORT PLAYGOERS’ SOCIETY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31[ST] MARCH 2024** 

|||||**2024**|||**2023**|||
|---|---|---|---|---|---|---|---|---|---|
|||**Unrestricted**|**Restricted**|**Endowment**||**Unrestricted**|**Restricted**|**Endowment**||
||**Note**|**Funds**|**Funds**|**Funds**|**Total**|**Funds**|**Funds**|**Funds**|**Total**|
|||£|£|£|£|£|£|£|£|
|**Income and Endowments From:**||||||||||
|Grants, Donations and Legacies|5|10,658|-|-|10,658|6,600|-|-|6,600|
|Charitable Activities|6|145,443|-|-|145,443|168,179|-|-|168,179|
|Other Trading Activities|7|42,498|-|-|42,498|38,126|-|-|38,126|
|Investments|8|122|-|1,242|1,364|3|-|1,206|1,209|
|||──────|──────|──────|──────|──────|──────|──────|──────|
|Total Income||198,721|-|1,242|199,963|212,908|-|1,206|214,114|
|||──────|──────|──────|──────|──────|──────|──────|──────|
|**Expenditure On:**||||||||||
|Raising Funds|7|21,100|-|-|21,100|20,195|-|-|20,195|
|Charitable Activities|6|212,537|-|1,000|213,537|315,933|-|1,500|317,433|
|||──────|──────|──────|──────|──────|──────|──────|──────|
|Total Expenditure||233,637|-|1,000|234,637|336,128|-|1,500|337,628|
|||──────|──────|──────|──────|──────|──────|──────|──────|
|Net (Expenditure)/Income for the Year Before Net Gains/(Losses) on Investments||(34,916)|-|242|(34,674)|(123,220)|-|(294)|(123,514)|
|Net Gains /(Losses) on Investments|10|-|23,639|(392)|23,247|(5,411)|(1,653)|(1,394)|(8,458)|
|||──────|──────|──────|──────|──────|──────|──────|──────|
|Net Movement in Funds||(34,916)|23,639|(150)|(11,427)|(128,631)|(1,653)|(1,688)|(131,972)|
|**Reconciliation of Funds**||||||||||
|Total Funds Brought Forward||92,238|192,040|24,095|308,373|220,869|193,693|25,783|440,345|
|||──────|──────|──────|──────|──────|──────|──────|──────|
|Total Funds Carried Forward||57,322|215,679|23,945|296,946|92,238|192,040|24,095|308,373|
|||══════|══════|══════|══════|══════|══════|══════|══════|



8 



## **NEWPORT PLAYGOERS’ SOCIETY BALANCE SHEET AS AT 31[ST] MARCH 2024** 

|||||**2024**|||**2023**|||
|---|---|---|---|---|---|---|---|---|---|
|||**Unrestricted**|**Restricted**|**Endowment**||**Unrestricted**|**Restricted**|**Endowment**||
|||**Funds**|**Funds**|**Funds**|**Total**|**Funds**|**Funds**|**Funds**|**Total**|
||**Note**|£|£|£|£|£|£|£|£|
|**Fixed Assets**||||||||||
|Tangible Assets|9|17,045|-|-|17,045|20,053|-|-|20,053|
|Investments|10|-|215,679|21,029|236,708|-|192,040|21,421|213,461|
|||──────|──────|──────|──────|──────|──────|──────|──────|
|||17,045|215,679|21,029|253,753|20,053|192,040|21,421|233,514|
|||──────|──────|──────|──────|──────|──────|──────|──────|
|**Current Assets:**||||||||||
|Stocks|11|4,677|-|-|4,677|3,642|-|-|3,642|
|Debtors|12|28,185|-|-|28,185|28,783|-|-|28,783|
|Cash at Bank – Current and Deposit Accounts||60,965|-|2,916|63,881|72,567|-|2,674|75,241|
|Cash in Hand||2,410|-|-|2,410|2,663|-|-|2,663|
|||──────|──────|──────|──────|──────|──────|──────|──────|
|||96,237|-|2,916|99,153|107,655|-|2,674|110,329|
|||──────|──────|──────|──────|──────|──────|──────|──────|
|**Creditors: Amounts Falling Due Within One Year**|13|(55,960)|-|-|(55,960)|(35,470)|-|-|(35,470)|
|||──────|──────|──────|──────|──────|──────|──────|──────|
|**Net Current Assets**||40,277|-|2,916|43,193|72,185|-|2,674|74,859|
|||──────|──────|──────|──────|──────|──────|──────|──────|
|**Total Assets Less Current Liabilities**||57,322|215,679|23,945|296,946|92,238|192,040|24,095|308,373|
|||══════|══════|══════|══════|══════|══════|══════|══════|
|**Funds**|15|57,322|215,679|23,945|296,946|92,238|192,040|24,095|308,373|
|||══════|══════|══════|══════|══════|══════|══════|══════|



9 



## **NEWPORT PLAYGOERS’ SOCIETY BALANCE SHEET (CONTINUED) AS AT 31[ST] MARCH 2024** 

All activities of the Society are continuing. 

There have been no recognised gains and losses for the current or prior financial year other than as stated in the Statement of Financial Activities. 

There are no movements in funds other than as stated in the Statement of Financial Activities. 

These financial statements were approved by the Council on 17[th] January 2025 and were signed on its behalf by: 

James Reynolds 

10 



## **NEWPORT PLAYGOERS’ SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2024** 

## **1. GENERAL INFORMATION** 

Newport Playgoers’ Society is a charity registered in England and Wales and is governed by its constitution and rules. 

The Society is a public benefit entity. 

A description of the nature of the Society’s operations, its principal activities and the address of its principal office may be found in the Council’s Report. 

The presentation currency of the financial statements is the Pound Sterling (£). 

## **2. ACCOUNTING POLICIES** 

## **Basis of Preparation and Assessment of Going Concern** 

The financial statements of the Society, which is a public benefit entity under FRS102, are prepared in accordance with the Charities SORP, (FRS102) ‘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 (FRS102) (effective 1 January 2019), Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Charities Act 2011. 

There are no material uncertainties about the Society’s ability to continue as a going concern. 

## **Financial Reporting Standard 102 – Reduced Disclosure Exemptions** 

The Society has taken advantage of the disclosure exemption from the requirements of Section 7 Statement of Cash Flows in preparing these financial statements, as permitted by FRS102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’. 

## **Accounting Convention** 

The financial statements are prepared under the historical cost convention, except for investments which are included at market value. 

## **Income** 

Income is recognised in the Statement of Financial Activities when the effect of a transaction or other event results in an increase in the Society’s assets. This only arises when the Society is entitled to the resource, i.e. it has control over the rights or access to the resource enabling it to determine its future application; when the Society is virtually certain that the resource will be received; and when the Society can measure the monetary value of the income with sufficient reliability. 

The following specific policies are applied to particular categories of income: 

Income from grants, legacies, donations and sponsorship of plays are recognised when receivable. 

Income from charitable activities including income from subscriptions, visitors and hire of the theatre are recognised when receivable. Income is deferred when deposits are received in advance for the hire of the theatre. 

Income from trading activities including income generated from bar, tea and coffee, confectionery and ice cream sales and other activities carried out by the Society primarily to generate resources which will be used to undertake its charitable activities are recognised to the extent that the Society has provided the goods and services. 

Investment income is recognised when receivable. 

11 



## **NEWPORT PLAYGOERS’ SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2024** 

## **Expenditure** 

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Society to the expenditure. This normally occurs once the supplier of the goods or services has performed their part of the contract i.e. delivered the goods or provided the services. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. 

Costs of generating funds associated with generating income from all sources other than from undertaking charitable activities include those resources expended in attracting donations and the purchase of bar, tea and coffee, confectionery and ice cream stocks. 

Expenditure on charitable activities that are applied by the Society in undertaking its work to meet its charitable activities include expenditure on the production of plays and the operation and maintenance of the theatre. 

Governance costs that are associated with meeting the constitutional and statutory requirements of the Society include independent examiner’s and accountancy fees and costs linked to the strategic management of the Society. 

## **Irrecoverable VAT** 

Irrecoverable VAT is charged against the category of expenditure for which it was incurred. 

## **Pay Policy for Senior Staff** 

The trustees consider that the members of the Council, who are the Society’s trustees, and the Theatre Manager comprise the key management personnel of the Society in charge of directing and controlling, running and operating the Society on a day to day basis. All members of the Council give of their time freely and no member received remuneration in the year. The pay of the senior staff is reviewed annually and normally increased in accordance with average earnings. 

## **Pensions** 

Employees of the Society are entitled to join a defined contribution ‘money purchase’ scheme. The Society’s contribution is restricted to the contributions disclosed in note 4. 

## **Tangible Fixed Assets** 

Individual tangible fixed assets are capitalised at their purchase cost and are included in the financial statements at cost less accumulated depreciation. The costs of minor additions or those costing below £100 are not capitalised. 

Depreciation is provided at the following annual rate in order to write off the cost less estimated residual value of each asset over its estimated useful life: 

Furniture, furnishings and equipment - 15% reducing balance 

Impairment reviews are only carried out when there is some indication that the recoverable amount of a fixed asset, being the higher of its net realisable value and its value in use, is below its net book value. 

## **Fixed Asset Investments** 

Investments held as fixed assets are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year. The main form of financial risk faced by the Society is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors. 

12 



## **NEWPORT PLAYGOERS’ SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2024** 

## **Stocks** 

Stocks are stated at the lower of cost and net realisable value. Cost is based on the cost of purchase and net realisable value is based on estimated selling price. 

## **Debtors** 

Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. 

## **Creditors and provisions** 

Creditors and provisions are recognised where the Society has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 

## **Financial instruments** 

The Society only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. 

## **Realised Gains and Losses** 

All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities. 

## **Funds Structure** 

Unrestricted funds comprise those funds which the Council are free to use for any purpose in furtherance of the Society’s objects. 

Restricted funds comprise funds which are held on specific trusts under charity law. The specific trusts may be declared by the donor when making the gift or may result from the terms of an appeal for funds. The specific trusts establish the purpose for which the Society can lawfully use the restricted funds. The Society’s restricted funds include funds restricted for the sole purpose of acquiring a freehold theatre when the Society’s lease expires on 31[st] March 2092, or sooner if the Society no longer occupies the Dolman Theatre. 

Endowment funds comprise those funds which are held on trust to be retained for the benefit of the Society as a capital fund. The Society has a single permanent endowment fund, the Styler Bursary that provides for the Council to invest the capital in perpetuity, the income from which is restricted to any young member of the Society wishing to advance their musical or theatre talents. 

## **Taxation** 

The Society is a registered charity and as such its income and gains are exempt from corporation tax to the extent that they are applied to its charitable objectives. 

## **Leasing** 

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the Statement of Financial Activities as incurred. 

13 



**NEWPORT PLAYGOERS’ SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2024** 

## **3. INFORMATION REGARDING MEMBERS OF COUNCIL AND RELATED PARTIES** 

## **Council Emoluments** 

No remuneration was paid to any member of the Council during the year (2023 £0). 

No expenses were paid to any member of the Council during the year (2023 £0). 

## **Related Parties** 

There were no transactions with related parties during the year (2023 £0). 

## **4. EMPLOYEES** 

||**2024**|**2023**|
|---|---|---|
||£|£|
|**Staff Costs**|||
|Wages and Salaries|43,792|38,525|
|Pension Costs|939|770|
||─────|─────|
||44,731|39,295|
||═════|═════|
||**2024**|**2023**|
||£|£|
|Employee benefits received by key management personnel|27,365|24,510|
||═════|═════|
|No employee earned £60,000 per annum or more.|||
||**2024**|**2023**|
||**No.**|**No.**|
|**Average Number of Persons Employed**|||
|Manager and Caretaker|2|2|
||═════|═════|



## **5. GRANTS, DONATIONS AND LEGACIES** 

|||**2024**|||**2023**||
|---|---|---|---|---|---|---|
||**Income**|**Expenditure**|**Net**|**Income**|**Expenditure**|**Net**|
||£|£|£|£|£|£|
|Theatres Trust grant|-|-|-|4,000|-|4,000|
|Newport City Council grants|2,000|-|2,000|2,000|-|2,000|
|Donations|8,658|-|8,658|600|-|600|
||_______<br>─────|─────|─────|─────|_______<br>─────|<br>─────|
||10,658|-|10,658|6,600|-|6,600|
||═════|═════|═════|═════|═════|═════|



14 



## **NEWPORT PLAYGOERS’ SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2024** 

## **6. CHARITABLE ACTIVITIES** 

|||**2024**|||**2023**||
|---|---|---|---|---|---|---|
||**Income**|**Expenditure**|**Net**|**Income**|**Expenditure**|**Net**|
||£|£|£|£|£|£|
|Subscriptions|24,921|-|24,921|24,480|-|24,480|
|Visitors|26,937|-|26,937|19,493|-|19,493|
|Booking Fees|10,954|-|10,954|10,228|-|10,228|
|Hire of Theatre|76,325|-|76,325|73,438|-|73,438|
|Hire of Costumes, Props, etc|151|-|151|106|-|106|
|Youth Activities|3,600|3,800|(200)|3,608|5,277|(1,669)|
|Minack|-|-|-|28,858|5,986|22,872|
|Other Productions|-|-|-|489|-|489|
|T4Two|-|-|-|494|381|113|
|Rates and Water Rates|-|1,312|(1,312)|-|1,434|(1,434)|
|Staff Costs|-|44,731|(44,731)|-|39,295|(39,295)|
|Gas|-|11,796|(11,796)|-|11,260|(11,260)|
|Electric|-|20,496|(20,496)|-|16,654|(16,654)|
|Production Expenses|-|6,455|(6,455)|-|4,000|(4,000)|
|Royalties|-|4,682|(4,682)|-|5,703|(5,703)|
|Books and Plays|-|971|(971)|500|1,809|(1,309)|
|Printing and Stationery|-|1,548|(1,548)|-|1,631|(1,631)|
|Telephone and Postage|-|1,448|(1,448)|-|1,898|(1,898)|
|Insurances|-|16,732|(16,732)|-|18,214|(18,214)|
|Licences and Subscriptions|-|2,026|(2,026)|-|1,742|(1,742)|
|Repairs and Maintenance||29,731|(29,731)|4,027|138,360|(134,333)|
|Legal and Professional Fees|-|6,015|(6,015)|-|1,620|(1,620)|
|Independent Examiner’s and|||||||
|Accountancy Fees|-|4,750|(4,750)|-|4,690|(4,690)|
|Cleaning|-|28,324|(28,324)|-|27,310|(27,310)|
|Ticketing|-|3,256|(3,256)|-|3,125|(3,125)|
|Sundries|1,614|2,048|(434)|242|1,760|(1,518)|
|Advertising and Publicity|-|13,444|(13,444)|-|14,126|(14,126)|
|Programmes|941|683|258|2,216|1,390|826|
|Bursaries|-|1,000|(1,000)|-|1,500|(1,500)|
|Bank and Credit Card Charges|-|5,281|(5,281)|-|4,789|(4,789)|
|Depreciation|-|3,008|(3,008)|-|3,479|(3,479)|
||─────|─────|─────|─────|─────|─────|
||145,443|213,537|(68,094)|168,179|317,433|(149,254)|
||═════|═════|═════|═════|═════|═════|



Bursaries amounting to £1,000 (2023 £1,500) relate to endowment funds. 

15 



## **NEWPORT PLAYGOERS’ SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024** 

## **7. OTHER TRADING ACTIVITIES** 

|||**2024**|||**2023**||
|---|---|---|---|---|---|---|
||**Income**|**Expenditure**|**Net**|**Income**|**Expenditure**|**Net**|
||£|£|£|£|£|£|
|Bar|24,440|9,865|14,575|20,697|7,921|12,776|
|Tea and Coffee|1,276|459|817|1,182|1,209|(27)|
|Confectionery, Ice Cream and|||||||
|Vending Machines|15,480|10,708|4,772|15,015|10,987|4,028|
|Fundraising|1,302|68|1,234|1,232|78|1,154|
||─────|─────|─────|─────|─────|─────|
||42,498|21,100|21,398|38,126|20,195|17,931|
||═════|═════|═════|═════|═════|═════|
|**NVESTMENT INCOME**|||||||
|||**2024**|||**2023**||
||**Income**|**Expenditure**|**Net**|**Income**|**Expenditure**|**Net**|
||£|£|£|£|£|£|
|Bank Interest|122|-|122|3|-|3|
|Dividends|1,242|-|1,242|1,206|-|1,206|
||─────|─────|─────|─────|─────|─────|
||1,364|-|1,364|1,209|-|1,209|
||═════|═════|═════|═════|═════|═════|



## **8. INVESTMENT INCOME** 

Dividends amounting to £1,242 (2023 £1,206) relate to endowment funds. 

## **9. TANGIBLE FIXED ASSETS** 

||**Furniture,**|
|---|---|
||**Furnishings**|
||**and Equipment**|
||£|
|**Depreciation**||
|Charge for the Year|3,008|
||═════|
|**Net Book Value**||
|At 31stMarch 2024|17,045|
||═════|
|At 31stMarch 2023|20,053|
||═════|



Records of the cost and accumulated depreciation amounts of many of the Society’s furniture, furnishings and equipment do not exist and therefore the total cost and accumulated depreciation balances are not shown above. 

16 



## **NEWPORT PLAYGOERS’ SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024** 

## **10. FIXED ASSET INVESTMENTS** 

|**FIXED ASSET INVESTMENTS**|||
|---|---|---|
||**2024**|**2023**|
||£|£|
|**Unrestricted Funds**|||
|UK Investments in M&G Investments Charifund –|||
|Equities Investment Fund for Charities (Acc):|||
|Balance at 1stApril at Market Value|-|107,721|
|Disposals|-|(102,310)|
|Net Unrealised Loss – Decrease in Market Value|-|(5,411)|
||─────|─────|
|Balance at 31stMarch at Market Value|-|-|
||═════|═════|
|Historic Cost at 31stMarch|-|-|
||═════|═════|
|**Restricted Funds**|||
|UK Investments in COIF Charities Investment Fund – Accumulation Units:|||
|Balance at 1stApril at Market Value|192,040|193,693|
|Net Unrealised Gain/(Loss) – Increase/(Decrease)/in Market Value|23,639|(1,653)|
||─────|─────|
|Balance at 31stMarch at Market Value|215,679|192,040|
||═════|═════|
|Historic Cost at 31stMarch|70,961|70,961|
||═════|═════|
|**Endowment Funds**|||
|UK Investments in M&G Investments Charifund –|||
|Equities Investment Fund for Charities (Income):|||
|Balance at 1stApril at Market Value|21,421|22,815|
|Net Unrealised Loss – Decrease in Market Value|(392)|(1,394)|
||─────|─────|
|Balance at 31stMarch at Market Value|21,029|21,421|
||═════|═════|
|Historic Cost at 31stMarch|20,000|20,000|
||═════|═════|
|**Total**|||
|Balance at 1stApril at Market Value|213,461|290,371|
|Net Unrealised Gains – Increase in Market Value|23,247|33,858|
||─────|─────|
|Balance at 31stMarch at Market Value|236,708|324,229|
||═════|═════|
|Historic Cost at 31stMarch|90,961|165,487|
||═════|═════|



. 

17 



## **NEWPORT PLAYGOERS’ SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024** 

## **11. STOCKS** 

||**2024**|**2023**|
|---|---|---|
||£|£|
|Bar|2,444|2,121|
|Tea and Coffee|577|316|
|Confectionery, Ice Cream and Vending Machines|1,656|1,205|
||─────|─────|
||4,677|3,642|
||═════|═════|



## **12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** 

||**2024**|**2023**|
|---|---|---|
||**£**|**£**|
|Trade Debtors|7,803|6,538|
|Value Added Tax|4,036|7,432|
|Other Debtors|2,493|2,493|
|Prepayments|13,853|12,320|
||─────|─────|
||28,185|28,783|
||═════|═════|



## **13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** 

||**2024**|**2023**|
|---|---|---|
||**£**|**£**|
|Trade Creditors|7,246|7,418|
|Taxation and Social Security|467|373|
|Other Creditors|29,451|11,750|
|Accruals and Deferred Income|18,796|15,929|
||─────|─────|
||55,960|35,470|
||═════|═════|



18 



## **NEWPORT PLAYGOERS’ SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024** 

## **14. DEFERRED INCOME** 

Creditors include deferred income amounting to £8,262 (2023 £7,347) comprising: 

Deposits received in advance for the hire of the Dolman Theatre after 31[st] March 2024: 

||||||**2024**|**2023**||
|---|---|---|---|---|---|---|---|
||||||**£**|**£**||
||Balance at 1stApril||||6,475|9,120||
||Amounts Released to Income|||(5,904)||(9,120)||
||Amounts Deferred in the Year||||6,931|6,475||
|||||─────||─────||
||Balance at 31stMarch||||7,502|6,475||
|||||═════||═════||
||Tickets sold in advance for productions after 31stMarch 2024:|||||||
||||||**2024**|**2023**||
||||||**£**|**£**||
||Balance at 1stApril||||872|797||
||Amounts Released to Income||||(872)|(797)||
||Amounts Deferred in the Year||||760|872||
|||||─────||─────||
||Balance at 31stMarch||||760|872||
|||||═════||═════||
|**15.**|**STATEMENT OF FUNDS**|||||||
|||**At 1st**|||**Net Gains/**||**At 31st**|
|||**April**|||**(Losses) on**||**March**|
|||**2023**|**Income**|**Expenditure**|**Investments**|<br>**Transfers**|**2024**|
|||**£**|**£**|**£**|**£**|<br>**£**|**£**|
||**Unrestricted Funds:**|||||||
||General Fund|92,238|198,721|(233,637)|-|<br>-|57,322|
||**Restricted Funds**|192,040|-|-|23,639|<br>-|215,679|
||**Endowment Fund:**|||||||
||Styler Bursary|24,095|1,242|(1,000)|(392)|<br>-|23,945|
|||─────|─────|─────|─────|<br>─────|─────|
||**Total Funds**|308,373|199,963|(234,637)|23,247|<br>-|296,946|
|||═════|═════|═════|═════|<br>═════|═════|



The General Fund is available to be spent for any of the purposes of the Society. 

The Styler Bursary fund derives from the will of Jon Styler which left the Society with the sum of £20,000 for providing by the income therefrom a bursary to be known as “The Jon Styler Bursary” to such members of its youth theatre wishing to develop their theatrical or musical skills as the Council of the Society shall from time to time and in its absolute discretion judge to be the most fit and proper to receive the same. The Society is the Trustee of the capital and the beneficial owners are the recipients of bursaries paid from the interest earned. 

19 



## **NEWPORT PLAYGOERS’ SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024** 

Restricted funds represent funds held in the Society’s investment account with the Charities Official Investment Fund (COIF) which was opened on 15th April 1966. The COIF fund was required by the Charity Commissioners in the following way: 

Alderman Arthur Dolman, Solicitor, President of Newport Playgoers Society, Leader of the ruling Conservatives on the Newport County Borough Council and Chairman of the Planning Committee negotiated the acquisition of a purpose built Theatre on a Lease of 125 years at one penny a year in exchange for our freeholds: the Little Theatre and its outbuildings plus 2 shops – but alienating Charity owned freeholds required the permission of the Charity Commissioners as evidenced by the following record: 

“Minutes of a [Playgoers] Council meeting held at the Little Theatre on Wednesday 26th January 1966”: “New Little Theatre - The President reported that he was in communication with the Charity Commissioners who wished the Society to take steps to redeem the 125 years’ Lease of the site in order to obtain the freehold by paying an annual sum as leasehold redemption of approximately £500. The President was of the opinion that this matter could be dealt with much more economically by means of wise investment, and he would report on his deliberations with the Charity Commissioners at a later date.” 

Later minutes are silent on the subject, but the Charity Commissioners must have been satisfied with Arthur Dolman’s proposals because the property transaction went ahead, and the Society’s investment account with the Charities Official Investment Fund (COIF) was opened on 15th April 1966. 

That investment was for the sole purpose of acquiring a Freehold Theatre when the Lease expires on 31st March 2092 (or sooner if NPS no longer occupies the Dolman Theatre). 

The Society is the trustee of the capital and the beneficial owners are the Society’s members in 2092. The present members of the Society are not the beneficial owners. 

The Society holds sufficient resources in an appropriate form to enable each fund to be applied in accordance with any restrictions. 

## **16. FINANCIAL INSTRUMENTS** 

|**INANCIAL INSTRUMENTS**|||
|---|---|---|
||**2024**|**2023**|
||£|£|
|Financial assets measured at fair value|236,708|213,461|
||═════|═════|



. 

20