REGISTERED COMPANY NUMBER: 00844043 (England and Wales) REGISTERED CHARITY NUMBER: 242164
Report of the Trustees and
Financial Statements for the Year Ended 31 December 2022
for SHARNBROOK AMATEUR THEATRE TRUST LIMITED (THE)
Elsby & Co 155 Wellingborough Road Rushden Northamptonshire NN10 9TB
SHARNBROOK AMATEUR THEATRE TRUST LIMITED
(THE)
Contents of the Financial Statements for the year ended 31 DECEMBER 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | to | 6 |
| Notes to the Financial Statements | 7 | to | 13 |
| Detailed Statement of Financial Activities | 14 | to | 15 |
SHARNBROOK AMATEUR THEATRE TRUST LIMITED
(THE)
Report of the Trustees for the year ended 31 DECEMBER 2022
The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have 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 (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
To promote and further education in and knowledge, understanding and appreciation of the arts of Opera, Ballet, Mime, Drama, Music and similar arts. A strong focus on youth involvement is supported with local schools offered reduced rates for the hiring of our facilities/equipment, our annual Summer School and continuous encouragement for students to play an active part in all aspects of the Trust. In shaping the general aim the Trustees have considered the Charity Commissions guidance on public benefit.
The charity is dependent on voluntary help. Besides those amateur performers who display their talents in the theatre, volunteers assist with stewarding performances, running and managing the bar, together with all the management of the charity.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
As Government restrictions due to the Covid pandemic were lifted, the charity was able to return to full activity, with four shows, summer school and several fundraising events. However, due to an unforeseen event one show, Rewired, was cancelled but fortunately it was replaced, at short notice, with The Woman Who Cooked Her Husband, albeit with only three performances against the five planned.
FINANCIAL REVIEW
Financial position
The profit from the four shows was £16,516 compared to £1,504 in 2021 reflecting a return to near normal activity although the 2021 result included a spend of £4,475 on new lighting equipment. Overall, the charity made a loss of £3,963 compared to a loss of £2,512 in 2021. The main differences between the two years were the decrease in grants received £18,237 and the increase in income raised through the productions £15,012. Fundraising performed well raising £6,104 more than in 2021.
Reserves policy
The charity has a reserves policy of maintaining £30,000 in an interest-bearing deposit account.
FUTURE PLANS
The Trust plans to continue a full range of activity with four shows, summer school and fundraising events with further upgrade to the facility planned.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Sharnbrook Amateur Theatre Trust Limited is a company limited by guarantee and governed by its Memorandum and Articles of Association dated 1 April 1965. It is registered as a charity with the Charity Commission. There were 137 members at the year end.
The Board of Trustees administer the charity. The Board meets four times a year or as required.
The Trustees have a risk management strategy which comprises:
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an annual review of the risks the charity may face
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the establishment of systems and procedures to mitigate those risks identified in the plan
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the implementation of procedures designed to minimise the potential impact on the charity should those risks materialise.
This work has not identified any major risks. A key element in the management of financial risk is the reserve policy, and the preparation and approval of a detailed budget for the forthcoming year.
Page 1
SHARNBROOK AMATEUR THEATRE TRUST LIMITED
(THE)
Report of the Trustees for the year ended 31 DECEMBER 2022
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
00844043 (England and Wales)
Registered Charity number
242164
Registered office
155 Wellingborough Road RUSHDEN Northamptonshire NN10 9TB
Trustees
B G Woodrow (resigned 17.5.22) A Capper T W H Gibbs J M Goodbody R P Hart (resigned 17.5.22) S J Parrott (resigned 12.3.23) D A L Pope G F Stafford C L Summerling (resigned 30.5.23) S J Devonshire K L Rose (resigned 17.5.22) S A Dennis T J Jackson-Waite (appointed 20.7.22) I Poole (appointed 20.7.22) K Stevens (appointed 7.9.22) (resigned 17.7.23) B C Thompson (appointed 20.7.22) R O West (appointed 20.7.22) (resigned 18.7.23)
Independent Examiner
Elsby & Co 155 Wellingborough Road Rushden Northamptonshire NN10 9TB Approved by order of the board of trustees on ............................................. and signed on its behalf by:
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...............................................................................................
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............................................................................................... T J Jackson-Waite - Trustee
Page 2
Independent Examiner's Report to the Trustees of Sharnbrook Amateur Theatre Trust Limited
(The)
Independent examiner's report to the trustees of Sharnbrook Amateur Theatre Trust Limited (The) ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2022.
Responsibilities and basis of report
As the charity's 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 requirements of the Companies 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 examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Claire Emery
Elsby & Co 155 Wellingborough Road Rushden Northamptonshire NN10 9TB
27 July 2023
Page 3
SHARNBROOK AMATEUR THEATRE TRUST LIMITED (THE)
Statement of Financial Activities
for the year ended 31 DECEMBER 2022
| 2022 Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 7,126 Charitable activities 5 Productions 33,454 Workshops 1,500 Subscriptions 2,815 Other trading activities 3 38,499 Investment income 4 167 Total 83,561 EXPENDITURE ON Raising funds 12,846 Charitable activities Productions 16,938 Workshops 960 Other 56,780 Total 87,524 NET INCOME/(EXPENDITURE) (3,963) RECONCILIATION OF FUNDS Total funds brought forward 884,412 TOTAL FUNDS CARRIED FORWARD 880,449 |
2021 Total funds £ 23,907 13,903 1,075 645 19,068 178 58,776 4,301 12,399 1,430 43,158 61,288 (2,512) 886,924 884,412 |
|---|---|
The notes form part of these financial statements
Page 4
SHARNBROOK AMATEUR THEATRE TRUST LIMITED
(THE)
Balance Sheet
31 DECEMBER 2022
| Notes FIXED ASSETS Tangible assets 8 CURRENT ASSETS Stocks 9 Debtors 10 Cash at bank and in hand CREDITORS Amounts falling due within one year 11 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES PROVISIONS FOR LIABILITIES 13 NET ASSETS FUNDS 14 Unrestricted funds TOTAL FUNDS |
2022 Unrestricted funds £ 928,933 1,361 8,733 75,307 85,401 (7,250) 78,151 1,007,084 (126,635) 880,449 880,449 880,449 |
2021 Total funds £ 941,900 619 10,142 75,156 85,917 (16,770) 69,147 1,011,047 (126,635) 884,412 884,412 884,412 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
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SHARNBROOK AMATEUR THEATRE TRUST LIMITED
(THE)
Balance Sheet - continued
31 DECEMBER 2022
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
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.............................................
T J Jackson-Waite - Trustee
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The notes form part of these financial statements
Page 6
SHARNBROOK AMATEUR THEATRE TRUST LIMITED
(THE)
Notes to the Financial Statements
for the year ended 31 DECEMBER 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income resources
Charitable Trading Activities
Income from theatre admission fees is included in incoming resources in the period in which receipts are received. Income from sales of goods and other items is included in the period in which the charity is entitled to receipt, unless paid in arrears.
Donations, Legacies and Grants
Income from donations, legacies and grants is included in incoming resources when these are receivable. Legacies - income is included when the charity is advised by the personal representative of an estate that payment will be made and the amount involved can be quantified.
Subscriptions
Subscription income is included in incoming resources in the period that it is received.
Gifts and Intangible Income
Intangible income, which comprises donated services, is included in income at a valuation which is an estimate of the financial cost borne by the donor where such a cost is quantifiable and measurable.No income is recognised where there is no financial cost borne by a third party.
Interest Receivable
Interest receivable is included when receivable by the charity and is allocated to each fund on an average balance held basis.
Resources expended
Resources expended are included in the Statement of Financial Activities on an accruals basis inclusive of any VAT which cannot be recovered. Certain expenditure is directly attributable to specific activities and has been included in those cost categories.
Tangible fixed assets
Tangible fixed assets are capitalised at cost. Depreciation is provided for and aims to write off fixed assets over their expected useful lives on the following basis:
| Freehold property | Nil |
|---|---|
| Improvement to property | Heating 5% of cost and Cooling 10% of cost |
| Fixtures and fittings | 20% of NBV |
| Costumes | Nil |
The Trustees are of the opinion that depreciation should not be charged on the Freehold Property, on the grounds that the depreciation charge would be immaterial, owing to the long useful economic life and high residual value of the building.The Trustees have considered this policy and consider it appropriate at the Balance Sheet date. Costumes are included at a conservative value and are not depreciated.
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SHARNBROOK AMATEUR THEATRE TRUST LIMITED
(THE)
Notes to the Financial Statements - continued for the year ended 31 DECEMBER 2022
1. ACCOUNTING POLICIES - continued
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Deferred Taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. DONATIONS AND LEGACIES
| DONATIONS AND LEGACIES | ||
|---|---|---|
| Grants Donations H & V donations Gift aid |
2022 £ 2,667 488 529 3,442 7,126 |
2021 £ 20,904 2,028 975 - |
| 23,907 |
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SHARNBROOK AMATEUR THEATRE TRUST LIMITED
(THE)
Notes to the Financial Statements - continued for the year ended 31 DECEMBER 2022
| 3. OTHER TRADING ACTIVITIES RHI Fundraising - heating Sales of goods Hire of premises Costume and technical hire Bar and catering sales Sponsorship Other 4. INVESTMENT INCOME Deposit account interest 5. INCOME FROM CHARITABLE ACTIVITIES Activity Productions Productions Workshops Workshops Subscriptions Subscriptions 6. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
2022 £ 6,784 15,795 13 6,100 1,013 8,418 - 376 38,499 2022 £ 167 2022 £ 33,454 1,500 2,815 37,769 2022 £ 17,889 |
2021 £ 5,193 4,565 8 3,540 304 4,017 590 851 |
|---|---|---|
| 19,068 | ||
| 2021 £ 178 2021 £ 13,903 1,075 645 |
||
| 15,623 | ||
| 2021 £ 17,549 |
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SHARNBROOK AMATEUR THEATRE TRUST LIMITED
(THE)
Notes to the Financial Statements - continued for the year ended 31 DECEMBER 2022
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.
8. TANGIBLE FIXED ASSETS
| Improvements Freehold to property property £ £ COST At 1 January 2022 750,000 409,499 Additions - - At 31 December 2022 750,000 409,499 DEPRECIATION At 1 January 2022 - 221,142 Charge for year - 16,788 At 31 December 2022 - 237,930 NET BOOK VALUE At 31 December 2022 750,000 171,569 At 31 December 2021 750,000 188,357 9. STOCKS Stocks 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Prepayments |
Costumes £ 500 - 500 - - - 500 500 |
Fixtures and fittings Totals £ £ 86,904 1,246,903 4,922 4,922 91,826 1,251,825 83,861 305,003 1,101 17,889 84,962 322,892 6,864 928,933 3,043 941,900 2022 2021 £ £ 1,361 619 2022 2021 £ £ 2,797 5,762 5,936 4,380 8,733 10,142 |
Fixtures and fittings Totals £ £ 86,904 1,246,903 4,922 4,922 91,826 1,251,825 83,861 305,003 1,101 17,889 84,962 322,892 6,864 928,933 3,043 941,900 2022 2021 £ £ 1,361 619 2022 2021 £ £ 2,797 5,762 5,936 4,380 8,733 10,142 |
Fixtures and fittings Totals £ £ 86,904 1,246,903 4,922 4,922 91,826 1,251,825 83,861 305,003 1,101 17,889 84,962 322,892 6,864 928,933 3,043 941,900 2022 2021 £ £ 1,361 619 2022 2021 £ £ 2,797 5,762 5,936 4,380 8,733 10,142 |
Fixtures and fittings Totals £ £ 86,904 1,246,903 4,922 4,922 91,826 1,251,825 83,861 305,003 1,101 17,889 84,962 322,892 6,864 928,933 3,043 941,900 2022 2021 £ £ 1,361 619 2022 2021 £ £ 2,797 5,762 5,936 4,380 8,733 10,142 |
Fixtures and fittings Totals £ £ 86,904 1,246,903 4,922 4,922 91,826 1,251,825 83,861 305,003 1,101 17,889 84,962 322,892 6,864 928,933 3,043 941,900 2022 2021 £ £ 1,361 619 2022 2021 £ £ 2,797 5,762 5,936 4,380 8,733 10,142 |
|---|---|---|---|---|---|---|
| 305,003 17,889 |
||||||
| 322,892 | ||||||
| 928,933 | ||||||
| 941,900 | ||||||
| 2021 £ 619 |
||||||
| 2021 £ 5,762 4,380 |
||||||
| 10,142 |
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SHARNBROOK AMATEUR THEATRE TRUST LIMITED
(THE)
Notes to the Financial Statements - continued for the year ended 31 DECEMBER 2022
11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other loans (see note 12) Trade creditors VAT Deferred income Accrued expenses 12. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Other loans 13. PROVISIONS FOR LIABILITIES Deferred tax 14. MOVEMENT IN FUNDS Unrestricted funds General fund Revaluation TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS |
2022 2021 £ £ - 9,750 2,893 3,107 129 323 430 624 3,798 2,966 7,250 16,770 2022 2021 £ £ - 9,750 2022 2021 £ £ 126,635 126,635 Net movement At At 1.1.22 in funds 31.12.22 £ £ £ 377,870 (3,963) 373,907 506,542 - 506,542 884,412 (3,963) 880,449 884,412 (3,963) 880,449 Incoming Resources Movement resources expended in funds £ £ £ 83,561 (87,524) (3,963) 83,561 (87,524) (3,963) |
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SHARNBROOK AMATEUR THEATRE TRUST LIMITED
(THE)
Notes to the Financial Statements - continued for the year ended 31 DECEMBER 2022
14. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund Revaluation TOTAL FUNDS Comparative net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS A current year 12 months and prior year 12 months combined position is Unrestricted funds General fund Revaluation TOTAL FUNDS |
Net movement At At 1.1.21 in funds 31.12.21 £ £ £ 380,382 (2,512) 377,870 506,542 - 506,542 886,924 (2,512) 884,412 886,924 (2,512) 884,412 Incoming Resources Movement resources expended in funds £ £ £ 58,776 (61,288) (2,512) 58,776 (61,288) (2,512) as follows: Net movement At At 1.1.21 in funds 31.12.22 £ £ £ 380,382 (6,475) 373,907 506,542 - 506,542 886,924 (6,475) 880,449 886,924 (6,475) 880,449 |
|---|---|
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SHARNBROOK AMATEUR THEATRE TRUST LIMITED
(THE)
Notes to the Financial Statements - continued
for the year ended 31 DECEMBER 2022
14. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 142,337 | (148,812) | (6,475) |
| TOTAL FUNDS | 142,337 | (148,812) | (6,475) |
15. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2022.
Page 13
SHARNBROOK AMATEUR THEATRE TRUST LIMITED
(THE)
Detailed Statement of Financial Activities for the year ended 31 DECEMBER 2022
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Grants | 2,667 | 20,904 |
| Donations | 488 | 2,028 |
| H & V donations | 529 | 975 |
| Gift aid | 3,442 | - |
| 7,126 | 23,907 | |
| Other trading activities | ||
| RHI | 6,784 | 5,193 |
| Fundraising - heating | 15,795 | 4,565 |
| Sales of goods | 13 | 8 |
| Hire of premises | 6,100 | 3,540 |
| Costume and technical hire | 1,013 | 304 |
| Bar and catering sales | 8,418 | 4,017 |
| Sponsorship | - | 590 |
| Other | 376 | 851 |
| 38,499 | 19,068 | |
| Investment income | ||
| Deposit account interest | 167 | 178 |
| Charitable activities | ||
| Productions | 33,454 | 13,903 |
| Workshops | 1,500 | 1,075 |
| Subscriptions | 2,815 | 645 |
| 37,769 | 15,623 | |
| Total incoming resources | 83,561 | 58,776 |
| EXPENDITURE | ||
| Other trading activities | ||
| Bar purchases | 5,770 | 2,318 |
| Heating and ventilation | 7,009 | 1,883 |
| Costumes and technical hire | 67 | 100 |
| 12,846 | 4,301 | |
| Charitable activities | ||
| Productions | 16,938 | 12,399 |
| Carried forward | 16,938 | 12,399 |
This page does not form part of the statutory financial statements
Page 14
SHARNBROOK AMATEUR THEATRE TRUST LIMITED
(THE)
Detailed Statement of Financial Activities
for the year ended 31 DECEMBER 2022
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Charitable activities | ||
| Brought forward | 16,938 | 12,399 |
| Workshops | 960 | 1,430 |
| 17,898 | 13,829 | |
| Other | ||
| Health & safety | 2,506 | 1,334 |
| Projects | 4,715 | 757 |
| Licences & subscriptions | 537 | 727 |
| Irrecoverable VAT | 3,490 | 1,757 |
| Rates and water | 508 | 88 |
| Insurance | 5,805 | 5,729 |
| Administration costs | 1,950 | 1,216 |
| Publicity | 1,132 | 1,385 |
| Electricity | 6,472 | 4,781 |
| Cleaning | 3,008 | 1,137 |
| Repairs and maintenance | 6,825 | 4,225 |
| Other | 428 | 981 |
| Commission | - | 2 |
| Depreciation of tangible fixed assets | 17,889 | 17,549 |
| 55,265 | 41,668 | |
| Support costs | ||
| Governance costs | ||
| Accountancy and legal fees | 1,515 | 1,490 |
| Total resources expended | 87,524 | 61,288 |
| Net expenditure | (3,963) | (2,512) |
This page does not form part of the statutory financial statements
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