The City of Plymouth Theatre Company
Report & financial statements
For the year ended 31 December 2021
The City of Plymouth Theatre Company
Contents
Legal and administrative information .................................................................................................. 1 Report of the Committee ...................................................................................................................... 2 Independent Examiner's report............................................................................................................. 4 Statement of financial activities ........................................................................................................... 5 Balance sheet........................................................................................................................................ 6 Notes to the financial statements ......................................................................................................... 7
City of Plymouth Theatre Company
Legal and administrative information
Registered charity number - 264997
Registered office The Devonport Playhouse Fore Street Devonport Plymouth PL1 4DN
Committee members Mrs A O'Brien (Chairman) Mr B Gerry (Vice Chairman) Mrs R Tyson (Secretary) Mrs T Eastham (Treasurer) Mrs J Wood Mrs D Jarman Mr J Alford Mr A Statton Ms E Smith Mr T Outterside
Independent Examiner Ian Sheppard Sheppards Accountants Limited 22 The Square The Millfields Plymouth PL1 3JX
Trustees Mr D Cloke Mr T Savery Mrs A O'Brien
Secretary Mrs R Tyson
Treasurer Mrs T Eastham
Bankers Lloyds Bank plc Royal Parade Plymouth
Page 1
City of Plymouth Theatre Company
Report of the Committee
The Committee present their report together with the financial statements of the charity for the year ended 31 December 2021. The financial statements have been prepared in accordance with the accounting policies set out on page 7 and comply with the charity's trust deed and applicable law.
Constitution and objects
The charity is constituted under a trust deed dated 9 January 1973 and is a registered charity number 264997.
The objects of the charity are the preservation of the Devonport Playhouse and the production of musical shows.
Organisation
The committee comprises a chairman, vice chairman, secretary, treasurer, and three others voted for by the members. There are also four co-opted members on the committee. The committee who served for the period covered by the financial statements are set out on page 1.
The committee are elected for one year after which they may put themselves forward for re-election. The committee meet during the year to discuss the charity's affairs.
Financial review and investment policy
The charity purchased the Devonport Methodist Church and converted it into a theatre. The charity purchased the building using a mortgage advance.
The charity receives income from subscriptions, donations, hiring of the playhouse and costumes, interest on surplus funds and from shows put on by the members.
There are no restrictions on the committee's powers to invest.
Reserves Policy
Surplus funds are invested in an interest bearing deposit account to ensure ready availability for productions and repairs to the playhouse. The committee's policy is to ensure sufficient funds are held for two small productions and a surplus for unexpected repairs.
Risk management
The trustees have examined the major strategic, business and operational risks which the charity faces and confirm systems have been established to enable regular reports to be produced so necessary steps can be taken to mitigate the risks.
The committee's responsibilities in relation to the financial statements
Charity law in England and Wales requires the committee to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the year end. In preparing the financial statements the committee are required to
-
select suitable accounting policies and apply them consistently
-
make judgements and estimates that are reasonable and prudent
-
state whether applicable accounting standards and statements of recommended practice have been followed subject to any departures disclosed and explained in the financial statements
-
prepare the financial statements on a going concern basis unless it is inappropriate to do so
Page 2
The City of Plymouth Theatre Company
Report of the Committee continued
The committee's responsibilities in relation to the financial statements continued
The committee are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure the financial statements comply with the Charities Acts. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the committee and signed on their behalf by
Mrs A O'Brien Chairman
Page 3
Independent Examiner's report to the Committee of The City of Plymouth Theatre Company
I report on the accounts for the year ended 31 December 2021 set out on pages 5 to 8.
Respective responsibilities of the Committee and Examiner
The charity's committee are responsible for the preparation of the accounts. The committee consider that an audit is not required for this year ( under section 144(2) of the Charities Act 2011 (the 2011 Act ) and that an independent examination is required.
It is my responsibility to
-
examine the accounts under section 145 of the 2011 Act
-
to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act) ; and
-
to state whether particular matters have come to my attention.
Basis of the Independent Examiner's report
My examination was carried out in accordance with the General Directives given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a true and fair view and the report is limited to those matters set out in the statements below.
Independent Examiner's statement
In connection with my examination, no matter has come to my attention which gives me reasonable cause to believe that in any material respect the requirements
-
to keep accounting records in accordance with section 130 of the 2011 Act and
-
to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met, or to which in my opinion attention should be drawn in order to enable a proper understanding to be reached.
Ian Sheppard FCA Sheppards Accountants Limited
22 The Square The Millfields Plymouth PL1 3JX
Date:
Page 4
The City of Plymouth Theatre Company
Statement of financial activities for the year ended 31 December 2021
| Incoming resources Subscriptions PYTC Costume and prop hiring Devonport Playhouse hiring Interest received Sundry income Donations Grants Net deficit/surplus on productions Thoroughly Modern Millie The Sound of Music Total incoming resources Resources expended Telephone Post & stationery Repairs & renewals Sundry expenses Rates & water Licences & insurance Light & heat Depreciation Accountancy PYTC Cleaning Subscriptions Interest paid Net deficit Opening balance Closing balance |
2021 2020 £ £ 3,756 2,645 2,420 5,088 166 55 - 1,805 4 16 7,632 5,238 5,484 452 16,097 11,334 - -559 - -1,752 |
|---|---|
| 35,559 24,322 1,074 1,565 716 714 43,731 20,721 288 1,223 376 671 3,412 2,373 6,644 5,292 339 377 660 660 1,800 960 2,100 2,100 562 914 117 - |
|
| 61,819 37,570 -26,260 -13,248 113,190 126,438 |
|
| £86,930 £113,190 |
Page 5
The City of Plymouth Theatre Company
Balance sheet at 31 December 2021
| Fixed assets (Note 2) Freehold property Fixtures & fittings Current assets Bank balances & cash Trade debtors Current liabilities Creditors & accruals (Note 3) Net current assets Bounce back loan Represented by Reserves Opening balance Deficit |
23,274 6,895 |
2021 £ 84,516 3,055 |
42,988 4,360 |
2020 £ 84,516 3,394 |
|---|---|---|---|---|
| 87,571 17,242 |
87,910 45,280 |
|||
| 12,927 | 2,068 | |||
| 17,883 86,930 |
20,000 113,190 |
|||
| £86,930 | £113,190 | |||
| 113,190 -26,260 |
126,438 -13,248 |
|||
| £86,930 | £113,190 |
Mrs A O'Brien Chairman
Date:
Page 6
The City of Plymouth Theatre Company Notes to the financial statements for the year ended 31 December 2021
1 Accounting policies
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Charities SORP (FRS 102).
In preparing the financial statements the charity follows best practice as laid down in the Statement of Recommended Practice published in April 2017.
Resources expended
Expenditure is calculated on an accruals basis.
Tangible fixed assets
Fixed assets including freehold property are stated at historical cost, including expenditure on capital additions.
Depreciation is provided on all tangible assets at rates calculated to write each asset down to its estimated residual value over its expected useful economic life, as follows:
Fixtures and Fittings 10% on reducing balance
No depreciation is provided on freehold property as in the opinion of the committee its value is in excess of cost and expenditure is incurred on repairs to maintain the value of the building.
2 Tangible fixed assets
| Cost at 1 January 2021 Additions/disposals Cost at 31 December 2021 Depreciation At 1 January 2021 Charge for the year Net book value At 31 December 2021 At 31 December 2020 |
Freehold property £ 84,516 |
Fixtures & fittings Total £ £ 35,946 120,462 |
|---|---|---|
| 84,516 | 35,946 120,462 |
|
| - - - |
32,552 32,552 339 339 |
|
| 32,891 32,891 |
||
| £84,516 | £3,055 £87,571 |
|
| £84,516 | £3,394 £87,910 |
Page 7
The City of Plymouth Theatre Company Notes to the financial statements for the year ended 31 December 2021
3 Creditors-amounts falling due within one year
| Creditors-amounts falling due within one year | |
|---|---|
| Trade creditors Accruals |
2021 2020 £ £ - - 12,927 2,068 |
| £12,927 £2,068 |
4 Staff costs
There were no employees during the year. All work was carried out by volunteers.
5 Taxation
The society is a registered charity and the surplus from its normal activities is not liable to corporation tax.
6 Value Added Tax
The charity is not registered for Value Added Tax. The expenses shown in the accounts are therefore inclusive of VAT where appropriate.
7 Front of house
The front of house team sell drinks, sweets, ice creams on behalf of the theatre. The net income from this activity is shown in sundry income. The charity is extremely grateful for all the hard work put into these activities.
Page 8