ART OF THE PUPPET LIMTED
(A Company Limited By Guarantee) REPORT AND FINANCIAL STATEMENTS For the Year Ended 30th September 2020
Company Registration No: 1386096 (England and Wales) Charity Registration No: 276527
CONTENTS
| Page | No. | ||
|---|---|---|---|
| Directors’ Report | 1-2 | ||
| Statementof Directors’ Responsibilities | 3 | ||
| Reportof theIndependent Examiner | 4 | ||
| Income andExpenditureAccount | 5 | ||
| Balance Sheet | 6 | ||
| NotetoFinancialStatements | 7 | ||
| Statementof Financial Activities | 8-9 |
ART OF THE PUPPET LIMITED
(A Company Limited by Guarantee)
Directors’ Report
For the Year ended 30th September 2020
The Directors have pleasure in submitting their Annual Report for the above year.
CONSTITUTION
Art of the Puppet Limited is constituted as a Charitable Trust under English Law and is registered with the Charity Commission – Charity number 276527.
OBJECTIVES
The objects of the Trust are to apply its income and capital for the benefit of Puppetry in education, both directly in schools and in a wider sense for children and adults of all ages.
ACHIEVEMENTS
During the year the Trust continued to attract grants and donations and contributions from educational establishments and funding bodies and used these funds to stage puppet shows and workshops for children and adults. The workshops are very successful and attract school bookings throughout London. In December 2019 The Trust assumed financial responsibility for The Puppet Theatre Barge, increasing income and artistic output.
RESERVES
The Trust has created the following specific reserve funds to ensure the survival of The Puppet Theatre Barge, which is a unique purpose-built floating marionette theatre. These cover specific capital and maintenance expenditure at the costs and times outlined below.
Extra Barge Maintenance Fund (anodes/Top box); £1600 (July 2021) New Generator Fund: £4000 (August 2021) Pontoon Fund: £8000 (September 2021) Boiler Fund: £4950 (September 2021)
Total Designated Funds: £18,550
The Trust also keeps Free Reserves for contingency, to account for fluctuations in seasonal ticket sales, and for any other unforeseen circumstances.
Total Free Reserves: £5,795
FINANCIAL INFORMATION
The Trust’s income for the year was £53,610 (2019: £13,795) The total expenses for the year were £61,344 (2019: £11,581)
The excess or difference was made up by movements in the Trust’s Fund Account.
ACKNOWLEDGEMENT
The Trust gratefully acknowledges the significant contribution of all those involved who have given both time and money in support of the Trust’s activities.
The fund is a charity and is recognised as such by H. M. Revenue & Customs for taxation purposes. As a result there is no liability to taxation on any of its income.
1
DIRECTORS
The Directors who are also the trustees of the Charitable Trust who served during the year were as follows:
Sara Clare Bayley Andrew Doyle Jeanette Pitt Rose Leahy
Registered Office: 78 Middleton Road London E8 4BP
Approved by the Directors and signed on their behalf by
Rob Humphreys Secretary
20/01 2021
2
ART OF THE PUPPET LIMITED (A Company Limited by Guarantee) Statement of Directors’ Responsibilities
Company law requires the Directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. In preparing those financial statements, the Directors are required to:
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Select suitable accounting policies and then apply them consistently.
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Make judgments and estimates that are reasonable and prudent.
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● Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
3
INDEPENTENT EXAMINER’S REPORT TO
THE ART OF THE PUPPET LIMITED (a Company Limited by Guarantee)
I report on the accounts of the Trust for the year ended 30[th] September 2019, which are set out on pages 3 to 7.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 43(2) of the Charities Act 1993 (the 1993 Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 43 of the 1993 Act;
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to follow the procedures laid down in the general Directions given by the Charity Commission under
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section 43(7)(b) of the 1993 Act; and
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to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the general Directions 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 statement below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 41 of the 1993 Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting
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requirements of the 1993 Act
have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Name: Simon Kingsley ACA (Membership No:7940683) Relevant professional qualification or body: Institute of Chartered Accountants of England & Wales Address: 58 Montague Road, Hackney, London E8 2HW Date: 20/01/2021
4
ART OF THE PUPPET LIMTED (A Company Limited by Guarantee) INCOME AND EXPENDITURE ACCOUNT
For the year ended 30th September 2020
| Note Income 1b Expenditure Surplus/ (Deficit) of Income over Expenditure |
For the y/e 30.09.2020 £ 53,610 (61,344) (7,734) |
For the y/e 30.09.2020 £ 53,610 (61,344) (7,734) |
For the y/e 30.09.2019 £ 13,795 (11,581) 2,214 |
For the y/e 30.09.2019 £ 13,795 (11,581) 2,214 |
|---|---|---|---|---|
| £ | £ | |||
2,214 |
There are no recognised gains or losses other than those passing through the Income and Expenditure Account
The note on page 6 forms part of these financial statements
5
ART OF THE PUPPET LIMITED
(A Company Limited by Guarantee)
BALANCE SHEET
For the Year ended 30th September 2020
| As at | As at | |
|---|---|---|
| 30.09.2020 |
30.09.2019 | |
| CURRENT ASSETS | £ | £ |
| Cash at bank | 24,585 | 32,319 |
| CURRENT LIABILITIES | ||
| Creditors | (240) | (240) |
| Accruals | 0 | 0 |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 24,345 | 32,079 |
| FUNDS | ||
| Unrestricted funds as at 01.10.2019/ (2018) | 32,079 | 29,865 |
| Surplus/(Deficit) of Income over Expenditure for the Year | (7,734) | 2,214 |
| Unrestricted Fund Balance at 30.09.2020/ (2019) | 24,345 | 32,079 |
| Of which:- | ||
| Designated Reserves | 18,550 | nil |
| Free Reserves | 5,795 | nil |
| Restricted Fund Balance at 30.09.2020/ (2019) | nil | nil |
For the year ended 30[th] September 2020 the company was entitled to exemption under section 477(2) of the Companies Act 2006.
No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibility for:
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Ensuring the company keeps accounting records which comply with 386: and
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Preparing accounts which give a true and fair view of the state of affairs of the company as at the end of its profit and loss for the financial year in accordance with section 393, and which otherwise comply with the requirements of the Companies Act relating to accounts, so far as applicable to the company.
The financial statements were approved by the Board on Signed on behalf of the Board of Directors
20/01 2021
A Doyle
J Pitt
The note on page 6 forms part of these financial statements.
6
ART OF THE PUPPET LIMITED
(A Company Limited by Guarantee) Note to the Financial Statements For the Year ended 30th September 2020
1. ACCOUNTING POLICIES
a. Basis of Accounting
The financial statements have been prepared under the historical cost convention and have been prepared in accordance with the statement of Recommended Practice published by the Charity Commissioners and the governing document of the Company which is its Memorandum and Articles of Association.
b Income
Income represents amounts receivable during the year by way of donations and gifts and from fees for shows and events which are included in full in the statement of Financial Activities when received.
c Direct Charitable Expenditure
Expenditure that is designated as Direct Charitable Expenditure is expenditure directly attributable to the principal activities of the Company.
d. Unrestricted Funds
Unrestricted funds are donations and other income received or generated for the charitable purposes.
e. Restricted Funds
Restricted funds are amounts donated for specific purposes and are matched with expenditure for those purposes.
7
ART OF THE PUPPET LIMITED (A Company Limited by Guarantee) Statement of Financial Activities For the Year ended 30th September 2020
There are no restricted funds available INCOME AND EXPENDITURE Incoming resources Grants and other Public Subsidy Donations and Sponsorship Trading income Other Mooring fees Total Incoming resources There were no restricted funds during the year RESOURCES EXPENDED Direct charitable expenditure Puppet show production costs Legal and Professional costs fee Administration costs Property Costs Advertising & Promotion Insurance Repairs & Maintenance Travel Total resources expended |
Unrestricted Funds For the y/e 30.09.2020 £ 10,000 300 43,057 253 53,610 (27,633) (2,436) (21.922) (1,636) (1,013) (2,329) (2,681) (1,693) (61,343) |
Unrestricted Funds For the y/e 30.09.2019 £ - 1,000 10,410 2,385 13,795 (10,410) (110) (0) (0) (0) (0) (0) (10,520) |
|---|---|---|
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RESERVES
| Opening reserves as at 1st October 2019/2018 Movement in the calendar year Closing reserves as at 30th September 2020/2019 Of which:- Designated Reserves Free Reserves |
32,079 (7,734) 24,345 18,550 5,795 |
29,865 2,214 32,079 0 32,079 |
|---|---|---|
The notes on page 6 & 7 form part of these financial statements.
Prepared by: Rob Middleton - Correspondent Examined by Simon Kingsley, Chartered Accountant