THE PALACE THEATRE CHARITY
Charity Registration No 263658
ANNUAL REPORT & ACCOUNTS
YEAR ENDED 31" MARCH 2024

THE PALACE THEATRE CHARITY
Charity Registration No 263658
Year Ended 31" March 2024
Contents
Trustees Annual Report
Statement of Trustees, Responsibilities
Independent Examinerfs Report
Statement of Financial Activities
Balance Sheet
Notes to the accounts

THE PALACE THEATRE CHARITY
Charity Registration No 263658
st
Year Ended 31 March 2024
Trustees Annual Report
The Trustee is pleased to present their report and accounts for the year ended 31 March 2024.
The accounts have been prepared in accordance with the accounting policies set out in note 2 to the
accounts and comply with the Trust's governing document. the Charities Art 2011 and the Statement of
Recommended Practice, Cha rities SORP IFR51021.
Objectives and actlvitle5
The Palace Theatre was conveyed to the Council by Mrs. G.E.Mouillot in a deed of gift dated 31st
December 1942, as an expression of her interest and goodwill towards the then County Borough Council,
through a donation to the charlty.
The Palace Theatre Charity owns the Palace Theatre and meets landlord's expenses such as building repair
and maintenance. It is not involved in the daY-t￿daY operation of the theatre, which is in the hands of the
City Council, who contracted out this work to HQ theatre5 from 1st August 2006 for a period of 30 years.
Over the years 1980181- 1982183 the theatre wa5 extended to include a large entrance area incorporating
a bar and the new Dixon Studio. This extension remains in the name of the City Council and wa5 not
conveyed to the Palace Theatre Charity.
Capital expenditure incurred on the theatre is met in the first instance by the City Council if the trust has
no funds and recovered from the Trust from any surplus which may arise on the Trust's revenue account
over the ensuing years.
Administrative services are provided to the Trust by the City Council, for which a charge is made.
The charity is administered and maintained for the objects set out in its governing document by the City
Council, which meets any deficit incurred each year on operating the facility.
The Trustees in making decisions about the Trust make those decisions wwth due regard to the objects of
the Trust.
In addition they have due regard to their legal duty to carry out the Trust's charitable purposes for the
Public Benefit and the Charity Commissions, guidance thereon.
Achievements and performance
The Palace Theatre is currently maintained to allow the purposes in its Governing document set out below
to take place during the financial year 2023-24.
The Trustee coftslders that the performance of the charlty during the year was satisfactory.

THE PALACE THEATRE CHARITY
Charity Registration No 263658
Year Ended 31, March 2024
Plans for the future
The Trustees intend to continue with the current activity and maintain the standards of the Palace Theatre
Charlty.
Financial review
The cost of maintaining the Pala￿ Theatre exceeded the net income and the operating deficit of £36,980
12023 £48,087) has been funded from the Southend City Council General Fund.
Reserves Polity
The trust does not need to hold reserve5 a5 any deficit whlch arises on the operation of the trust. should
the trust have no funds to meet it, is funded by Southend on Sea City Council, which is sole trustee of the
trust.
Golng roncern
The Palace Theatre Charity meets the definition of a public benefit entity under FRS102. There are no
material uncertairbties about the charity's ability to continue as a going concern.
Strurturel governance and management
Governlng documents
The Trust'5 Governing document is in the form of a deed signed on 14th April 1943.
Trustee recruitment and tmlnlng
Southend City Council elected members are corporate Trustees. Therefore Councillors once elerted
become a corporate Trustee of the Trust.
RiskAssessment
The city council, when carrying out risk assessments for its own activities, includes within the assessment
the activities of the trust. so any major risks applicable to the trust are covered by the council arranging
approprlate Insurance or having In place strategies to cover other contlngencies.
Reference and administrative detslls
Trustees
Southend-on-sea City Council
Secretary/Treasurer to the Trust
Southend-on-sea City Council
Addre55
Civic Centre
Vicroria Avenue
Southend-on-sea
E55ex
S52 6ER

THE PALACE THEATRE CHARITY
Charity Registration No 263658
Year Ended 31. March 2024
Independent examiners
TC Group
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
8N44 3TN
Statement of Trustees. Responslbllitles
The Trustees are responsible for preparing accounts which give a true and fair view of the state of affairs of
the Charity as at the end of each financial year and the income and expenditure of the Charity for that
period.
In preparing those accounts, the Trustees are required to:
Select 5Ultable and applicable accounting policies and then apply them consistently.
Make judgement and estimates that are reasonable and prudent.
Prepare the financial statements on a going concern basis unless it is inappropriate to presume that
the organisation will continue in business.
The Trustees are also responsible for keeping proper accounting records which disclose with reasonable
accuracy at any time the financial position of the Charity and enable it to ensure that the financial
5tatement5 comply with charity legislation and the relevant governing instrument5. They are responsible
for safeguarding the CharitV5 assets and hence for taking reasona ble steps for the prevention and
detection of fraud and oiher irregularities.
Results
The Trusvs financial results are as per the annexed accounts.
By order of the Trustees
Signed
J Chesterton (Feb 10, 2025 13:45 GMT)
Joe Chesterton, Executive Director (Finance &
Re50urcesl
Date Feb 10, 2025

THE PALACE THEATRE CHARITY
Charity Registration No 263658
Year Ended 31" March 2024
Independent Examinerfs Report
I report on the accounts of the Trust for the year ended 31st March 2024. which are set out on pages 5 to
12.
Responslbilities and ba515 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 Charlties Act 20111'the Art'}.
I report in respert of my examination of the Trusvs accounts carried out under section 145 of the 2011 Act
and in carrying out my examination I have followed all the applicable Directions given by the Charity
Commission under section 145151{bl of the Art.
Independentexaminerfsstatement
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..
l. accounting records were not kept In respect of the Trust as requlred by sectlon 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 falr view whlch Is not a matter consldered as part of
an independent examination.
I have no concern5 and have come across no other matters in connertion with the examination to which
attention should be drawn in thi5 report in order to enable a proper understanding of the accounts to be
reached.
Mark Cummlns FCCA FCIE
For and on behalf ofTCGroup
Office: Steyning, West Sussex
Dated..

THE PALACE THEATRE CHARITY
Charity Registration No 263658
Year Ended 31. March 2024
Statement of Financial Activities
2023124
2023124
Unrestrlcted Endowment
2023124
Total
2022123
Total
Funds
Funds
Funds
Fund5
Income From
Donations
36,980
33
36,980
33
48,087
13
Investments
Charitable Activities
Total Income
12,500
49,513
12.500
49.513
12.500
60.600
Expenditure on
Charitable activitie5
Total expenditure
49,513
49,513
16,269
16,269
65.782
65.782
109,960
109.960
Revaluation
198,957
198,957
Net Income/expendlture and
net movement in funds
182.688
182,688
149,3601
Retonciliation of Funds
Total funds brought forward
Total funds carried forward
1.075,316
1.075,316
1.258,004 1.258,004
1,124,676
1,075,316
All income and gains for the year are recognised on the statement of financial activities. All the Charity's
ctivities are classified as continuing.

THE PALACE THEATRE CHARITY
Charity Registration No 263658
Year Ended 31" March 2024
Balance Sheet
2023124
Totsl
Funds
2022123
Total
Funds
Fixed Assets
Tangible Assets
Totsl Fixed Assets
1,258,004
I,Z58,004
1,075,316
1,075.316
Current Assets
Cash at bank and in hand
840
660
Total Current Asset5
840
660
Llabllftles
Creditors: Amounts falling due within one year
Net current assets
(840)
16601
Total assets
1,258,004
1,075,316
The funds of the charity
Endowment fund5
1.258,004
1.075,316
Total charity funds
1,258,004
1.075,316
Approved by the Trustee and signed on its behalf by an authorised signatory.
Signed
J Chesterton (Feb 10. 2025 13'.45 GMT)
Joe Chesterton, Executive Director IFinance & Resource51
Dale Feb 10, 2025

THE PALACE THEATRE CHARITY
Charity Registration No 263658
5t
Year Ended 31 March 2024
Notes to the accounts
Note l Legal Status
The Palace Theatre Charity Is an unincorporated charity registered in England and Wales {charity number
263658).
Note 2 Accountlng Pollcies
Basls of preparotion
The accounts have been prepared in accordance with Accounting and Reporting by Charities: Statement of
Recommended Pr3Ctice applicable to charities preparing their accounts in accordance with the Financial
Reporting Standa rd applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 2015)-
(Charities SORP IFRS 10211, and the Charities Act 2011.
The Palace Theatre Charity meet5 the definition of 3 public benefit entity under FRS 102. Assets and
liabilities are inwtially recognised at historical cost or tra nsaction value unless otherwise stated in the
relevant accounting policy notelsl. There are no materlal uncertainties about the charitrfs ability to
continue as a going concern given the continued support of Southend City Council.
The financial statements are prepared in Pounds Sterling. which is the functional currency of the charity.
Monetary amounts in these financial statements are rounded to the nearest pound.
Cash Flow Stotement
In accordarsce with the Charities SORP IFRS 1021 the charity is claiming exemption from the requirement to
prepare a cash flow statement on account of it being a small charity.
Income
Donations and other forms of voluntary income are recogni5ed as incoming resources when receivable,
except insofar as they are incapable of financial measurement.
Investment income is accounted for when receivable.
Expenditure
Expenditure is accounted for on an accruals basis exclusive of the element of VAT which is recoverable by
Southend City Council in accordance with VAT Notice 749 para 7.5.
Charitable expenditure cornprise5 those costs incurred by the charity in the delivery of its activities and
services for it5 beneficiaries.
Tongiblefixed assets and depreciL7tlon
Tangible fixed assets are capitalised at cost. Land is not depreciated. Buildings & equipment are being
depreciated on a straight line basis at various rates.

THE PALACE THEATRE CHARITY
Charity Registration No 263658
Year Ended 31" March 2024
Note 2 Accountlng Pollcles Icontlnued)
Cash rrt bonk and In hand
Cash at bank and in hand includes cash and short term highly liquid investments. No separate bank account
Is maintsined by the Trust, therefore all income and expenditure passes through the City Council'5 account,
and its cash balances are held within the City Council's general bank account.
Creditors ondprovi5ion5
Creditors and provisions are recognised where the charity has present obligation resulting from a past
event that wlll probably result in a transfer of funds to a third party and the amount due to settle the
obligation can be measured or estimated reliably.
Funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general
objectives of the charity. These funds are used to support the day-to-day operations and any other
activities that align with the charity's mission.
Endowment funds are held in perpetuity, with the ca pital being invested to generate income. The income
from these investments is used in accordance with the donor's wishes or the charity's governing
docurnents to support speclflc prolects or activlties. The capital itself remains intact to ensure long-term
financial stability.
Critical accounting estimates and judgements
In the application of the charlty's accounting pollcles. the trustees are required to make judgements,
estimates and a55umptions about the carrying amount of assets and liabilities that are not readily apparent
from other sources. The estimates and associated assumption5 are based on historical experience and
other factors that are considered to be relevant. Actual results may differ f rom these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised.
The trustees do not consider that there are any critical e5timate5 or are35 of judgement that need to be
brought to the attention of the readers of the financial statements.
Note 3 Income from Donations
Donation5 of £36,98012023.. £48,087) were from Southend City Council as the funding required to make up
the operational deficit for the year. This donation is equitably apportioned across all operational trust
expenditure.
Note 4 Income from Investments
Represents interest from cash balance5 held within Southend City Council.

THE PALACE THEATRE CHARITY
Charity Registration No 263658
Year Ended 31" March 2024
Note 5 Income from Charitable Activities
2024
2023
Rental Income
12,500
12,500
12,500
12,500
Note 6 Cost of Charitable Artivitles
2024
2023
Bulldlng/Ground Malntenance
Insurance
19,122
29.050
16,269
840
36,599
22,900
49,360
660
Depreciation
Governance costs
Administration
501
441
65.782
109,960
The support costs incurred are the administration services provided by Southend City Council and
8overn3nce costs. Total support costs for the year were £1,34112023: £1.101).
Governance costs comprlse solely of fees paid to the independent examiners. During the year £84012023:
£6601 was paid to the independent examiners in respect of audit services.
Employee costs relate to employees of the Council.
No staff are remunerated over E60,000 In the year.
The charity is managed by Southend City Council and doesn't have any key management personnel.

THE PALACE THEATRE CHARITY
Charity ReEiStration No 263658
Year Ended 31" March 2024
Note 7 Flxed Assets
Freehold
Land &
Buildings
Equipment
Total
Asset cost, valuation OT revalued amount
Balance brought forward @ 01104123
Additions
942,239
17,505
116,261
117,5051
1,058,500
407,764
1.350,003
17,505
116,261
117,5051
407,764 1.466,264
Revaluations
Impairment charge5
Balance carried lorward @ 31103124
Accumulated depreclatlon and impairment reviews
Balance brought forward @ 01104123
Revaluatlons
82,696
182.6961
191,991
274,687
182,6961
16,269
208.260
Charge for the year
Balance carried forward @ 31103124
16,269
208,260
Net 8ook Value
Brought forward @ 01104123
Carried forward @ 31103124
859,543
1,058,500
215,773
1,075,316
199,504 1,258,004
The freehold land and buildings represent the value of the Palace Theatre which was revalued by Jamie
Redden MRICS on 31 March 2024.
Note 8 Creditors
Amounts falling due within one year
2024
2023
Other Creditors
840
660
Note 9 Endowment fund
The endowment fund arose from the donation of The Palace Theatre.
Note 10 Trustee remuneratlon
No trustee was paid in respect of their services as a trustee in 2023 or 2024 and no expenditure wa5
reimbursed.
io

THE PALACE THEATRE CHARITY
Charity Registration No 263658
Year Ended 31" March 2024
Note 11 Related Party Transactlons
During the year the trustee (Southend Cwty Council) donated £36,98012023: £48.0871 to the Trust in
respert of the f unding required to cover the operational deficit for the year. Southend City Council
collected a further £12,533 {2023: £12,5 131 on behalf of the Trust In respect of investment and rental
income. The Trust paid the Council £48,674 in respect of operating costs for the year {2023.' £59,939).
Note 12 Comparatlve Funds
2022123
Unrestricted
Fund5
2022123
Endowment
Funds
2022123
Total
Fund5
Income From
Donation5
48,087
13
12,SOO
60,600
48,087
13
12,500
60,600
Investments
Charitable Activities
Total Income
Expenditure on
Charitable activities
Total expenditure
60,600
60,600
49.360
49.360
109,960
109,960
Net expenditure and net
movement in funds
149,3601
{49,3601
Reconciliation of funds
Total funds brought forward
Total funds carried forward
1.124.676
1.075,316
1,124,676
1.075,316
li

THE PALACE THEATRE CHARITY
Charity Registration No 263658
Year Ended 31" March 2024
Note 13 Net Assels Between Funds
Yeor Ending 31J* Morch 2024
Unrestricted
Endowment
Total
Flxed Assets
1,258,004
1,258.C(14
840
Current Assets
840
Current Uabllities
18401
18401
1,258,004
Total
1,258.004
Year Ending 31st March 2023
Unrestricted
Endowment
Total
Fixed Assets
1,075.316
1,075,316
660
Current Assets
660
Current Liabilities
16601
16601
1.075.316
Total
1,075,316
12