2023-12-31-accounts - Sharnbrook Amateur Theatre Trust Limited

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REGISTERED COMPANY NUMBER: 00844043 (England and Wales) REGISTERED CHARITY NUMBER: 242164

Report of the Trustees and

Financial Statements for the Year Ended 31 December 2023

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 2023

	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 2023

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 2023. 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 nearly full activity, with four shows, several fundraising events but unfortunately unable to run Summer School.

FINANCIAL REVIEW

Financial position

The profit from the four shows was £24,823 compared to £16,516 in 2022 reflecting a return to near normal activity. Overall, the charity made a loss of £2,288 compared to a loss of £3,963 in 2022. The main differences between the two years were the increase in show profit of £8,307 offset by an increased spend on upgrade projects of £8,104. The bar and catering activities generated £3,831 more profit than last year, reflecting the increase in audience attendance.

Reserves policy

The charity reviewed and updated their reserves policy on the 24th April 2024 to maintain £50,000 in an interest-bearing deposit account. Previously funds of £30,000 were held in reserve.

FUTURE PLANS

The Trust plans to continue a full range of activity in 2024 with five 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 amended on March 22, 2023. It is registered as a charity with the Charity Commission. There were 133 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:

an annual review of the risks the charity may face
the establishment of systems and procedures to mitigate those risks identified in the plan
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 2023

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

A Capper T W H Gibbs (deceased 28.11.23) J M Goodbody (resigned 15.11.23) S J Parrott (resigned 12.3.23) D A L Pope G F Stafford C L Summerling (resigned 30.5.23) S J Devonshire S A Dennis T J Jackson-Waite (resigned 11.9.23) I Poole K Stevens (resigned 17.7.23) B C Thompson R O West (resigned 18.7.23)

Independent Examiner

Elsby & Co 155 Wellingborough Road Rushden Northamptonshire NN10 9TB

Approved by order of the board of trustees on 14 August 2024 and signed on its behalf by:

D A L Pope - Trustee DAL Pope ‘fristee

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 2023.

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:

accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
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
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

14 August 2024

Page 3

SHARNBROOK AMATEUR THEATRE TRUST LIMITED (THE)

Statement of Financial Activities

for the year ended 31 DECEMBER 2023

2023
Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
5,685
Charitable activities
5
Productions
54,915
Workshops
305
Subscriptions
3,540
Other trading activities
3
40,338
Investment income
4
995
Total
105,778
EXPENDITURE ON
Raising funds
12,082
Charitable activities
Productions
30,092
Workshops
297
Other
65,595
Total
108,066
NET INCOME/(EXPENDITURE)
(2,288)
RECONCILIATION OF FUNDS
Total funds brought forward
880,449
TOTAL FUNDS CARRIED FORWARD
878,161

2022
Total
funds
£
7,126
33,454
1,500
2,815
38,499
167
83,561
12,846
16,938
960
56,780
87,524
(3,963)
884,412
880,449

The notes form part of these financial statements

Page 4

SHARNBROOK AMATEUR THEATRE TRUST LIMITED (THE)

Balance Sheet

31 DECEMBER 2023

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 12 NET ASSETS FUNDS 13 Unrestricted funds TOTAL FUNDS	2023 Unrestricted funds £ 911,166 1,473 7,430 94,818 103,721 (10,091) 93,630 1,004,796 (126,635) 878,161 878,161 878,161	2022 Total 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

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(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

continued...

Page 5

SHARNBROOK AMATEUR THEATRE TRUST LIMITED (THE)

Balance Sheet - continued 31 DECEMBER 2023

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 14 August 2024 and were signed on its behalf by:

D A L Pope - Trustee DAL Pope- Trustee

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 2023

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.

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

continued...

Page 7

SHARNBROOK AMATEUR THEATRE TRUST LIMITED (THE)

Notes to the Financial Statements - continued

for the year ended 31 DECEMBER 2023

1. ACCOUNTING POLICIES - continued

Stocks

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
	2023	2022
	£	£
Grants	3,000	2,667
Donations	-	488
Fund the Future	2,685	529
Gift aid	-	3,442
	5,685	7,126

continued...

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SHARNBROOK AMATEUR THEATRE TRUST LIMITED (THE)

Notes to the Financial Statements - continued

for the year ended 31 DECEMBER 2023

3. OTHER TRADING ACTIVITIES

RHI Fundraising Sales of goods Hire of premises Costume and Equipment hire Bar and catering sales 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	2023 £ 7,700 13,073 168 4,973 2,029 12,285 110 40,338 2023 £ 995 2023 £ 54,915 305 3,540 58,760 2023 £ 17,767	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

7. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.

continued...

Page 9

SHARNBROOK AMATEUR THEATRE TRUST LIMITED (THE)

Notes to the Financial Statements - continued

for the year ended 31 DECEMBER 2023

8. TANGIBLE FIXED ASSETS

Improvements Freehold to property property £ £ COST At 1 January 2023 and 31 December 2023 750,000 409,499 DEPRECIATION At 1 January 2023 - 237,930 Charge for year - 16,788 At 31 December 2023 - 254,718 NET BOOK VALUE At 31 December 2023 750,000 154,781 At 31 December 2022 750,000 171,569 9. STOCKS Stocks 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Prepayments	Costumes £ 500 - - - 500 500	Fixtures and fittings Totals £ £ 91,826 1,251,825 84,962 322,892 979 17,767 85,941 340,659 5,885 911,166 6,864 928,933 2023 2022 £ £ 1,473 1,361 2023 2022 £ £ 4,193 2,930 3,237 5,803 7,430 8,733

continued...

Page 10

SHARNBROOK AMATEUR THEATRE TRUST LIMITED (THE)

Notes to the Financial Statements - continued

for the year ended 31 DECEMBER 2023

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors VAT Deferred income Accrued expenses 12. PROVISIONS FOR LIABILITIES Deferred tax 13. 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	At 1.1.23 £ 373,907 506,542 880,449 880,449 Incoming resources £ 105,778 105,778	2023 2022 £ £ 2,628 2,893 742 129 480 430 6,241 3,798 10,091 7,250 2023 2022 £ £ 126,635 126,635 Net movement At in funds 31.12.23 £ £ (2,288) 371,619 - 506,542 (2,288) 878,161 (2,288) 878,161 Resources Movement expended in funds £ £ (108,066) (2,288) (108,066) (2,288)

continued...

Page 11

SHARNBROOK AMATEUR THEATRE TRUST LIMITED (THE)

Notes to the Financial Statements - continued for the year ended 31 DECEMBER 2023

13. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1.1.22 £ Unrestricted funds General fund 377,870 Revaluation 506,542 884,412 TOTAL FUNDS 884,412 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 83,561 TOTAL FUNDS 83,561	Net movement At in funds 31.12.22 £ £ (3,963) 373,907 - 506,542 (3,963) 880,449 (3,963) 880,449 Resources Movement expended in funds £ £ (87,524) (3,963) (87,524) (3,963)

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds General fund Revaluation TOTAL FUNDS	At 1.1.22 £ 377,870 506,542 884,412 884,412	Net movement in funds £ (6,251) - (6,251) (6,251)	At 31.12.23 £ 371,619 506,542 878,161 878,161

continued...

Page 12

SHARNBROOK AMATEUR THEATRE TRUST LIMITED

(THE)

Notes to the Financial Statements - continued for the year ended 31 DECEMBER 2023

13. 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:

Unrestricted funds General fund TOTAL FUNDS	Incoming resources £ 189,339 189,339	Resources Movement expended in funds £ £ (195,590) (6,251) (195,590) (6,251)

14. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2023.

Page 13

SHARNBROOK AMATEUR THEATRE TRUST LIMITED

(THE)

Detailed Statement of Financial Activities

for the year ended 31 DECEMBER 2023

INCOME AND ENDOWMENTS Donations and legacies Grants Donations Fund the Future Gift aid Other trading activities RHI Fundraising Sales of goods Hire of premises Costume and Equipment hire Bar and catering sales Other Investment income Deposit account interest Charitable activities Productions Workshops Subscriptions Total incoming resources EXPENDITURE Other trading activities Bar and Catering purchases Purchase of goods Fund the Future Costume and Equipment hire Charitable activities Productions Carried forward	2023 £ 3,000 - 2,685 - 5,685 7,700 13,073 168 4,973 2,029 12,285 110 40,338 995 54,915 305 3,540 58,760 105,778 6,006 177 5,364 535 12,082 30,092 30,092	2022 £ 2,667 488 529 3,442 7,126 6,784 15,795 13 6,100 1,013 8,418 376 38,499 167 33,454 1,500 2,815 37,769 83,561 5,770 - 7,009 67 12,846 16,938 16,938

This page does not form part of the statutory financial statements

Page 14

SHARNBROOK AMATEUR THEATRE TRUST LIMITED (THE)

Charitable activities Brought forward Workshops Other Health & safety Projects Licences & subscriptions Irrecoverable VAT Rates and water Insurance Administration costs Publicity Electricity Cleaning Repairs and maintenance Other Depreciation of tangible fixed assets Support costs Governance costs Accountancy and legal fees Total resources expended Net expenditure	Detailed Statement of Financial Activities for the year ended 31 DECEMBER 2023	2023 £ 30,092 297 30,389 3,083 12,819 339 4,017 879 4,703 1,251 2,140 7,265 3,352 5,046 1,419 17,767 64,080 1,515 108,066 (2,288)	2022 £ 16,938 960 17,898 2,506 4,715 537 3,490 508 5,805 1,950 1,132 6,472 3,008 6,825 428 17,889 55,265 1,515 87,524 (3,963)

This page does not form part of the statutory financial statements

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