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2023-11-30-accounts

MIKRON THEATRE COMPANY LIMITED

UNAUDITED FINANCIAL STATEMENTS 30 NOVEMBER 2023

CONTENTS
Page
Company information 1
Chairperson’s report 2
Directors’ report 3-4
Independent Examiner’s report 5
Statement of financial activities 6-7
Balance sheet 8
Notes to the financial statements 9-19

Company Registration Number 1055043 Charity Number 265169

1

MIKRON THEATRE COMPANY LIMITED

COMPANY INFORMATION

Status

Mikron Theatre Company Limited is a registered charity (number 265169).

Company registration number 1055043.

The company is limited by guarantee.

Directors (Trustees)

M J Kelly S J Prickett J P Button K Y Button J A Green S M Lucas L M Whittleworth D Daly C J Locke K L Mahon M-J Russell de Clifford

Secretary and registered office

P M Toon Marsden Mechanics Peel Street Marsden Huddersfield HD7 6BW

Independent Examiner

Wheawill & Sudworth Limited Chartered Accountants 35 Westgate Huddersfield HD1 1PA

Bankers

Lloyds Bank plc 22 Carr Lane Slaithwaite Huddersfield HD7 5AN

2

MIKRON THEATRE COMPANY LIMITED

CHAIRMAN’S REPORT

For the year ended

30 NOVEMBER 2023

My annual Chair report has mentioned strange times for some years now, and 2023 delivered again, in our 51st year of touring.

Why strange times? One of the wettest summers on record, an entirely new cast of talented actor-musicians (we haven't had this for many years - the all-new cast, not the talent) a week of cast illness being covered by Artistic Director Marianne and other challenges ... all dealt with by our swan like board and our excellent office team.

Despite the awful summer, audience figures did show some signs of post-pandemic recovery as we tipped just over the 13,000 mark. Thanks to all who came to watch a show! Both shows were received brilliantly, and we know we have made Mikron newcomers and stalwarts alike happy.

Aside from our visible touring work, we’ve been busy:

The surplus of £24,487 we show in these accounts is truly remarkable, given the rising prices we are all enduring. We have benefited from higher interest rates on our savings (£7,970) and a continuation of the higher rate for Theatre Tax Relief, which is £10k higher than pre-covid. There has been extremely effective cost control in place - thanks are due to Janet, our board finance lead, Producer Pete and Rachel, for literally keeping our heads above water.

Another huge contributory factor to this position - our amazing audiences and donors.

Darren Henley, Chief Executive of Arts Council England came to see us in Marsden for the last performance of the year, and he commented on the remarkable love and support there is for Mikron and was astonished at the level of support we get from audiences and donors.

He said he was proud to have Mikron in the National Portfolio.

This all cements what we already know - we have a wonderful community around us.

Thank you, from us all.

MARK KELLY Chair 6 March 2024

3

MIKRON THEATRE COMPANY LIMITED

DIRECTORS’ REPORT

For the year ended

30 NOVEMBER 2023

The directors present their report and unaudited financial statements of the charitable company for the year ended 30 November 2023. The directors have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the report and financial statements of the charitable company.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charitable company’s governing document, the Charities Act 2011 and 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 published in October 2019.

Objectives and activities

The charitable company’s principal activity during the year was that of providing theatrical and educational entertainment to the public at large in furthering the company’s charitable purposes for the public benefit.

Achievements and performance

The achievements and performance are covered in the Chairman’s Report on page 2 and the review of the financial year below.

Review of the financial year

The attached financial statements show the results for the year with an excess of income over expenditure of £24,487 (2022: £16,662).

Reserves policy

The Trustees have reviewed the reserves of the company, being general unrestricted funds of £160,826 (2022: £134,968), unrestricted designated funds of £176,678 (2022: £176,614) and restricted funds of £363 (2022: £1,798), totalling £337,867 (2022: £313,380). In recognition of the relative uncertainty of incoming resources for the provision of the company’s activities, and in the light of lessons learnt through the pandemic, the Trustees have reviewed their reserves policy. The company is at its most vulnerable in the first six months of the financial year when costs of initiating the annual tour exceed income, which is traditionally earned during the second half of the year as the shows roll out. Whilst efforts are always directed at trying to mitigate this, it was felt prudent to adjust the reserves policy and to aim to be holding 6 months of expenditure at the end of each financial year and to monitor this target throughout the year using the monthly cash flow forecasts. Actual general unrestricted funds at 30 November 2023 equated to, based on expenditure in 2023, just over 6 months unrestricted expenditure.

Structure, governance and management

Governing document

The organisation is a charitable company limited by guarantee, incorporated on 18 May 1972 and registered as a charity on 23 February 1973. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1.

4

MIKRON THEATRE COMPANY LIMITED

DIRECTORS’ REPORT (continued)

for the year ended

30 NOVEMBER 2023

Structure, governance and management (continued)

Recruitment and appointment of trustees

The Trustees are also directors of the company for the purposes of company law and under the company’s Articles. Under the requirements of the revised Memorandum and Articles of Association the number of Trustees shall not be less than four nor more than twelve.

The Trustees may from time to time and at any time appoint any member of the Association as a Trustee, either to fill a casual vacancy or by way of addition to the Trustee body, provided that the prescribed maximum be not thereby exceeded. Any member so appointed shall retain his/her office only until the next Annual General meeting, but he/she shall then be eligible for re-election.

Directors (Trustees)

The directors of the charitable company are the Trustees for the purposes of charity law. The Trustees who have served during the year and since the year end were as follows:

M J Kelly S J Prickett J P Button K Y Button J A Green S M Lucas L M Whittleworth D Daly C J Locke K L Mahon

M-J Russell de Clifford

Reference and administrative details

Day to day management of the charitable company is delegated to P M Toon and M McNamara. Other details are included on page 1 company information.

Exemption from disclosures

The charitable company has taken advantage of the exemptions within the SORP relating to smaller charities.

Approved by the board of directors on 6 March 2024 and signed by order of the board:

P TOON Secretary

5

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF MIKRON THEATRE COMPANY LIMITED

I report to the charity trustees on my examination of the accounts of the company for the year ended 30 November 2023 which are set out on pages 6 to 19.

Responsibilities and basis of report

As the charity 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 company’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

Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the ICAEW which is one of the listed bodies.

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 that in any material respect:

  1. 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

  3. 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

  4. 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.

R Turner MAAT Wheawill & Sudworth Limited 35 Westgate Huddersfield HD1 1PA 6 March 2024

6

MIKRON THEATRE COMPANY LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (including summary income and expenditure account)

for the year ended

30 NOVEMBER 2023

Unrestricted
Unrestricted Designated Restricted Total Funds
Funds Funds Funds 2023 2022
Notes £ £ £ £ £
Income from:
2 Donations and legacies 184,534 1,105 - 185,639 176,359
3 Charitable activities 99,948 - 64,889 164,837 136,607
4 Other trading activities 6,213 - - 6,213 12,125
5 Investments 7,970 - - 7,970 734
───── ───── ───── ───── ─────
Total income 298,665 1,105 64,889 364,659 325,825
───── ───── ───── ───── ─────
Expenditure on:
6 Charitable activities 263,837 10,011 66,324 340,172 309,163
───── ───── ───── ───── ─────
Total expenditure 263,837 10,011 66,324 340,172 309,163
───── ───── ───── ───── ─────
7 Net income/(expenditure) 34,828 (8,906) (1,435) 24,487 16,662
Transfers between funds (8,970) 8,970 - - -
───── ───── ───── ───── ─────
Net movement in funds 25,858 64 (1,435) 24,487 16,662
Reconciliation of funds
Total funds brought forward 134,968 176,614 1,798 313,380 296,718
───── ───── ───── ───── ─────
Total funds carried forward 160,826 176,678 363 337,867 313,380
═════ ═════ ═════ ═════ ═════

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 9 to 19 form part of these financial statements.

7

MIKRON THEATRE COMPANY LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (including summary income and expenditure account)

For the year ended

30 NOVEMBER 2022

Unrestricted
Unrestricted Designated Restricted Total Funds
Funds Funds Funds 2022 2021
Notes £ £ £ £ £
Income from:
2 Donations and legacies 175,535 824 - 176,359 180,604
3 Charitable activities 88,147 - 48,460 136,607 155,069
4 Other trading activities 12,125 - - 12,125 7,162
5 Investments 734 - - 734 10
───── ───── ───── ───── ─────
Total income 276,541 824 48,460 325,825 342,845
───── ───── ───── ───── ─────
Expenditure on:
6 Charitable activities 257,864 (328) 51,627 309,163 268,718
───── ───── ───── ───── ─────
Total expenditure 257,864 (328) 51,627 309,163 268,718
───── ───── ───── ───── ─────
7 Net income/(expenditure) 18,677 1,152 (3,167) 16,662 74,127
Transfers between funds (12,220) 12,220 - - -
───── ───── ───── ───── ─────
Net movement in funds 6,457 13,372 (3,167) 16,662 74,127
Reconciliation of funds
Total funds brought forward 128,511 163,242 4,965 296,718 222,591
───── ───── ───── ───── ─────
Total funds carried forward 134,968 176,614 1,798 313,380 296,718
═════ ═════ ═════ ═════ ═════

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The notes on pages 9 to 19 form part of these financial statements.

8

MIKRON THEATRE COMPANY LIMITED

BALANCE SHEET

30 NOVEMBER 2023

2023 2022
Notes £ £
Fixed assets
12 Tangible assets 20,205 32,416
───── ─────
Current assets
Stocks held for resale 4,500 6,000
Debtors: prepayments and accrued income 36,146 37,152
Cash at bank and in hand 304,567 270,596
───── ─────
345,213 313,748
13 Creditors:amounts falling due within one year (16,998) (15,566)
───── ─────
Net current assets 328,215 298,182
───── ─────
Total assets less current liabilities 348,420 330,598
Creditors:amounts falling due over one year (10,553) (17,218)
───── ─────
Total assets less current liabilities 337,867 313,380
═════ ═════
Funds
14 Designated funds – unrestricted 176,678 176,614
15 General funds – unrestricted 160,826 134,968
16 Restricted funds 363 1,798
───── ─────
337,867 313,380
═════ ═════

For the year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors’ responsibilities:

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

6 March 2024 and are signed on its behalf by

M J KELLY Director

Company Registration Number: 1055043

The notes on pages 9 to 19 form part of these financial statements.

9

MIKRON THEATRE COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

30 NOVEMBER 2023

1 Accounting policies

Mikron Theatre Company Limited is a registered charitable company limited by guarantee in the United Kingdom. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities are detailed in the Directors’ Report.

The charitable company constitutes a public benefit entity as defined by FRS102. The financial statements have been prepared in accordance with 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) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice.

The financial statements are prepared on a going concern basis under the historical cost convention and are presented in sterling which is the functional currency of the charity and rounded to the nearest pound.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds are unrestricted funds earmarked by the Management Committee for particular purposes.

Restricted funds are funds which are to be used in accordance with restrictions imposed by donors or which have been raised by the charity for particular purposes. The aim and use of restricted funds is set out in the notes to the financial statements.

However, any income received during a financial period intended by the payer for use in funding expenditure of some future financial period is carried forward as deferred income until the period of intended use is reached.

No amount is included in the financial statements for volunteer time in line with the SORP (FRS102).

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

10

MIKRON THEATRE COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

30 NOVEMBER 2023

1 Accounting policies (continued)

Voluntary income is received by way of grants, donations and sponsorships and is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.

Investment income is included when receivable.

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs, included within support costs in note 5, include those costs associated with meeting the constitutional and statutory requirements of the charity and include the accountancy fees.

All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis.

The charity makes contributions towards the Equity Pension Scheme, a Personal Pension Plan, for actors opted into the scheme and to other Personal Pension Plans for salaried employees. Contributions are expensed as they become payable.

Tangible fixed assets are included at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following rates in order to write off the assets over their estimated useful lives. In the year of acquisition tangible fixed assets are depreciated from 1 December.

Boat - 20% per annum straight line Van - 25% per annum straight line Staging, lighting and sound equipment - 25% per annum straight line Computer and office equipment - 25% per annum straight line

11

MIKRON THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued)

30 NOVEMBER 2023

1 Accounting policies (continued)

g) Financial instruments
Income from donations and legacies 2023 2022
£ £
Show collections 87,012 83,657
General donations 24,673 24,976
Legacies and In Memory Giving 1,105 824
Individual supporters and sponsorship 44,048 46,253
Tax received on Gift Aid payments 28,801 20,649
────── ──────
185,639 176,359
══════ ══════

Income from donations and legacies was £185,639 (2022: £176,359) of which £184,534 (2022: £175,535) was attributable to general unrestricted funds and £1,105 (2022: £824) was attributable to designated unrestricted funds.

Income from charitable activities 2023 2022
£ £
Fees and receipts 79,000 62,779
Grant income:
Arts Council England 64,670 48,460
The Cuckoo’s Nest 219 -
Theatre tax relief 20,948 25,368
────── ──────
164,837
136,607
══════ ══════

Income from charitable activities was £164,837 (2022: £136,607). £64,889 (2022: £48,460) was attributable to restricted funds and £99,948 (2022: £88,147) was attributable to general unrestricted funds.

12

MIKRON THEATRE COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

30 NOVEMBER 2023

3 Income from charitable activities (continued)

Grant income of £64,670 received during the year ended 30 November 2023 from The Arts Council was intended as a contribution towards the cost of Mikron’s touring activity for 2023.

4 Income from other trading activities 2023 2022
£ £
Project management income 6,213 12,125
══════ ══════

Income from other trading activities was £6,213 (2022: £12,125) and this was all attributable to general unrestricted funds.

5 Income from investments 2023 2022
£ £
Bank interest receivable 7,970 734
══════ ══════

Income from investments was £7,970 (2022: £734) all of which was attributable to general unrestricted funds in both periods.

6 Expenditure on charitable activities Charitable Governance 2023 2022
Basis Activities Costs Total Total
Costs directly allocated £ £ £ £
to activities
Actors’, writers’ and directors’ fees Direct 154,494 - 154,494 135,162
and salaries
General production expenses Direct 14,827 - 14,827 8,590
Boat expenses Direct 4,195 - 4,195 6,498
Van and travel expenses Direct 15,835 - 15,835 16,206
Publicity and advertising Direct 32,132 - 32,132 29,809
Access Direct 4,750 - 4,750 7,098
Support costs allocated
to activities
Administration fees, salaries and Time 76,409 - 76,409 77,175
expenses
Rent and service charges Floor 3,968 - 3,968 3,942
Printing and stationery Usage 7,021 - 7,021 5,013
Postage and telephone Usage 6,037 - 6,037 6,831
Computer expenses Usage 1,094 - 1,094 130
Insurance Floor 1,307 - 1,307 1,181
Accountancy charges Usage - 3,600 3,600 4,650
Professional fees Usage - 125 125 2,115
(Profit) loss on disposal of fixed assets Usage - - - (11,000)
Depreciation Usage 12,211 - 12,211 14,204
Bank charges Transactions 2,009 - 2,009 1,242
Incidental expenses Usage 158 - 158 317
───── ───── ───── ─────
336,447 3,725 340,172 309,163
═════ ═════ ═════ ═════

13

MIKRON THEATRE COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

30 NOVEMBER 2023

6 Expenditure on charitable activities (continued) Expenditure on charitable activities (continued) Charitable Governance 2022 2021
Basis Activities Costs Total Total
Costs directly allocated £ £ £ £
to activities
Actors’, writers’ and directors’ fees Direct 135,162 - 135,162 116,747
and salaries
General production expenses Direct 8,590 - 8,590 9,618
Boat expenses Direct 6,498 - 6,498 7,152
Van and travel expenses Direct 16,206 - 16,206 12,689
Publicity and advertising Direct 29,809 - 29,809 20,192
Access Direct 7,098 - 7,098 4,697
Support costs allocated
to activities
Administration fees, salaries and Time 77,175 - 77,175 62,900
expenses
Rent and service charges Floor 3,942 - 3,942 3,639
Printing and stationery Usage 5,013 - 5,013 3,942
Postage and telephone Usage 6,831 - 6,831 5,777
Computer expenses Usage 130 - 130 428
Insurance Floor 1,181 - 1,181 1,085
Accountancy charges Usage - 4,650 4,650 3,210
Professional fees Usage - 2,115 2,115 543
Depreciation Usage 14,204 - 14,204 12,292
(Profit) loss on disposal of fixed assets Usage (11,000) - (11,000) 1,152
Bank charges Transactions 1,242 - 1,242 2,324
Incidental expenses Usage 317 - 317 331
───── ───── ───── ─────
302,398 6,765 309,163 268,718
═════ ═════ ═════ ═════

£66,324 (2022: £51,627) of the above costs were attributable to restricted funds.

£263,837 (2022: £257,864) of the above costs were attributable to general unrestricted funds.

£10,011 (2022: (£328)) of the above costs were attributable to unrestricted designated funds.

14

MIKRON THEATRE COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

30 NOVEMBER 2023

7 Net income/(expenditure) for the year 2023 2022
£ £
This is stated after charging:
Depreciation of tangible fixed assets 12,211 14,204
Independent examiner’s remuneration 3,600 3,600
════ ════

8 Trustees’ and key management personnel remuneration and expenses

The directors of the company who also act as Trustees neither received nor waived any remuneration in the year (2022: £Nil).

The trustees did not have any expenses reimbursed during the year (2022: £Nil).

The total employee benefits, including fees, paid to key management personnel amounted to £80,117 (2022: £76,421).

9 Staff costs

The average number of persons employed by the charity during the year amounted to 4 (2022: 4).

The aggregate payroll costs incurred during the year, relating to the above, were:

2023 2022
£ £
Wages and salaries 114,023 110,179
Social security costs 5,714 6,026
Other pension costs 3,421 3,305
────── ──────
123,158 119,510
══════ ══════

There are no employees who received total employee benefits (excluding employer pension costs) of more than £60,000.

10 Pensions

The charity is participating in the Equity Pension Scheme. The Scheme is a separate legal entity which is administered by First Act with the funds managed by Aviva and is a Personal Pension Plan. Personal pension plan contributions are also paid to True Potential for the salaried employees.

Pension contributions paid in the year represent the employer contributions payable for actors opted into the pension scheme and employees. The total contributions paid in the year amounted to £6,157 (2022: £6,550); the amount owing at the year end was £Nil (2022: £Nil).

15

MIKRON THEATRE COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

30 NOVEMBER 2023

11 Taxation

As a charity, Mikron Theatre Company Limited is exempt from tax on income falling within section 505 of the Taxes Act 1988. No tax charges have arisen in the Charity.

12 Tangible fixed assets Staging, lighting Computer
Narrowboat and sound and office
and van equipment equipment Total
£ £ £ £
Cost
At 1 December 2022 62,990 17,141 16,829 96,960
Additions - - - -
Disposals - - - -
───── ───── ───── ─────
At 30 November 2023 62,990 17,141 16,829 96,960
───── ───── ───── ─────
Depreciation
At 1 December 2022 32,968 14,889 16,687 64,544
Charge in the year 10,943 1,126 142 12,211
Disposals - - - -
───── ───── ───── ─────
At 30 November 2023 43,911 16,015 16,829 76,755
───── ───── ───── ─────
Net book value at
30 November 2023 19,079 1,126 - 20,205
30 November 2022 30,022 2,252 142 32,416
═════ ═════ ═════ ═════
2023 2022
13 Creditors: amounts falling due within one year £ £
Accruals and deferred income 4,600 3,600
Social security and other taxes 5,733 5,301
Hire purchase creditor 6,665 6,665
───── ─────
16,998 15,566
═════ ═════

16

MIKRON THEATRE COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

30 NOVEMBER 2023

14 Designated funds - unrestricted

The James
Designated Sykes
boat and Memorial
van fund Fund Total
£ £ £
At 1 December 2021 101,677 61,565 163,242
Donations and legacies - 824 824
Transfer from unrestricted general funds - 15,000 15,000
Transfer to unrestricted general funds - (2,780) (2,780)
Depreciation (10,672) - (10,672)
Profit on disposal of van 11,000 - 11,000
────── ────── ──────
At 30 November 2022 102,005 74,609 176,614
══════ ══════ ══════
£ £ £
At 1 December 2022 102,005 74,609 176,614
Donations and legacies - 1,105 1,105
Transfer from unrestricted general funds 10,000 7,970 17,970
Transfer to unrestricted general funds - (9,000) (9,000)
Depreciation (10,011) - (10,011)
────── ────── ──────
At 30 November 2023 101,994 74,684 176,678
══════ ══════ ══════

The designated fund was established in order to fund the future purchase and/or improvement of our boat and van.

The trustees agreed to create new designated unrestricted fund to be called The James Sykes Memorial Fund. This fund is for all future legacies, in-memory giving and funds that the trustees see fit, to help us build future resilience.

2023 2022
15 General funds – unrestricted £ £
At 1 December 2022 134,968 128,511
Surplus for the year 34,828 18,677
Transfer to unrestricted designated funds (8,970) (12,220)
───── ─────
At 30 November 2023 160,826 134,968
═════ ═════

The general funds are available for use at the discretion of the charity in furtherance of the general objectives.

17

MIKRON THEATRE COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

30 NOVEMBER 2023

16 Restricted funds
The
Tyseley Cuckoo’s Arts
Fund Nest Council Total
£ £ £ £
At 1 December 2022 469 867 462 1,798
Income:
Amounts received in the year - 1,219 64,670 65,889
Deferred income at 30 November 2023 - (1,000) - (1,000)
Resources expended:
Actors’, writers and directors’
Fees and salaries - - (31,007) (31,007)
General production expenses - - (2,976) (2,976)
Boat expenses - - (842) (842)
Van and travel expenses - - (3,178) (3,178)
Publicity and advertising - - (6,449) (6,449)
Administration fees, salaries and expenses - - (15,335) (15,335)
Rent - - (796) (796)
Telephone and IT - (219) (2,840) (3,059)
Insurance - - (262) (262)
Access - - (953) (953)
Depreciation (469) (504) (462) (1,435)
Incidental expenses - - (32) (32)
────── ───── ───── ─────
At 30 November 2023 - 363 - 363
══════ ═════ ═════ ═════
At 1 December 2021 1,592 1,800 1,573 4,965
Income:
Amounts received in the year - - 48,460 48,460
Resources expended:
Actors’, writers and directors’
Fees and salaries - - (21,983) (21,983)
General production expenses - - (1,397) (1,397)
Boat expenses - - (1,057) (1,057)
Van and travel expenses - - (2,636) (2,636)
Publicity and advertising - - (4,848) (4,848)
Administration fees, salaries and expenses - - (12,552) (12,552)
Rent - - (641) (641)
Telephone and IT - (400) (1,947) (2,347)
Insurance - - (192) (192)
Access - - (1,154) (1,154)
Depreciation (1,123) (533) (1,111) (2,767)
Incidental expenses - - (53) (53)
────── ───── ───── ─────
At 30 November 2022 469 867 462 1,798
══════ ═════ ═════ ═════

18

MIKRON THEATRE COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

30 NOVEMBER 2023

Restricted funding carried forward at 30 November 2023 represents monies received towards the acquisition of tangible fixed assets which will be allocated against the depreciation charged on those assets in future periods.

19

MIKRON THEATRE COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

30 NOVEMBER 2023

17 Analysis of net assets between funds
2023
Unrestricted Restricted
funds Funds Total funds
£ £ £
Tangible fixed assets 19,842 363 20,205
Current assets 345,213 - 345,213
Current liabilities (16,998) - (16,998)
Long term liabilities (10,553) - (10,553)
────── ────── ──────
337,504 363 337,867
══════ ══════ ══════
2022
Unrestricted Restricted
funds Funds Total funds
£ £ £
Tangible fixed assets 30,618 1,798 32,416
Current assets 313,748 - 313,748
Current liabilities (15,566) - (15,566)
Long term liabilities (17,218) - (17,218)
────── ────── ──────
311,582 1,798 313,380
══════ ══════ ══════

18 Constitution

The company is limited by guarantee and registered as a charity, number 265169. The liability of each member is limited to £1.

19 Capital commitments

At 30 November 2023, the company had capital commitments contracted for but not provided for in these financial statements of £Nil (2022: £Nil).

20 Related party transactions

During the year the charity has received donations and sponsorship income from the directors in the amount of £1,191 (2022: £1,237).

21 Control of the company

In the opinion of the directors, no one party controls the company.