ART OF THE PUPPET LIMTED (A Company Limited By Guarantee) REPORT AND FINANCIAL STATEMENTS For the Year Ended 30th September 2022
Company Registration No: 1386096 (England and Wales) Charity Registration No: 276527
CONTENTS
| Directors’ Report Statement of Directors’ Responsibilities Report of the Independent Examiner Income and Expenditure Account Balance Sheet Note to Financial Statements Statement of Financial Activities |
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1-2 3 4 5 6 7 8-9 |
ART OF THE PUPPET LIMITED
(A Company Limited by Guarantee) Directors’ Report
For the Year ended 30th September 2022
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
This was another challenging year for the Trust, with the pandemic still impacting the running of the theatre, particularly around Christmas 2021, when the government warned the public to avoid gathering in public places, which seriously impacted on ticket sales. The Trust applied for a complex and wide-ranging grant from the Arts Council England, which will enable Blue Pool of Questions and a new production of the Selfish Giant to be put on, and enable the theatre to host the Italian puppet company Di Filippo Marionette. Collaboration with the Floating Classroom has also proved invaluable during this period, in order to connect with the local community, through workshops and holiday projects. For the first time since before the pandemic, the Puppet Theatre made it to Richmond for its summer tour in 2022, and the Trust is hopeful to go even further up the Thames to Abingdon in 2023. Contact has already been made with local authorities in Abingdon.
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.
Engine overhaul: £5,000 (October 2023) Dry Dock for Puppet Barge: £10,000 (October 2023) Boiler Fund: £5,000 (September 2023)
Total Designated Funds: £20,000
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: £31,595
FINANCIAL INFORMATION
The Trust’s income for the year was £145,006 (2021: £128,642) The total expenses for the year were £131,696 (2021: £114,702) 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 Gren Middleton
Registered Office: 78 Middleton Road London E8 4BP
Approved by the Directors and signed on their behalf by
Rob Humphreys Secretary
20/06/2023
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.
● 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 2022, which are set out on pages 3 to 9.
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
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Commission under 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:
● to keep accounting records in accordance with section 41 of the 1993 Act; and ● to prepare accounts which accord with the accounting records and comply with the accounting 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
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Address: 58 Montague Road, Hackney, London E8 2HW Date: 20/06/2023
ART OF THE PUPPET LIMTED (A Company Limited by Guarantee) INCOME AND EXPENDITURE ACCOUNT For the year ended 30th September 2022
For the y/e For the y/e 30.09.2022 30.09.2021 Note £ £ Income 1b 145,006 128,642 Expenditure (131,696) (114,702) Surplus/ (Deficit) of Income over Expenditure 13,310 13,940
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 2022
| As at | As at | ||
|---|---|---|---|
| 30.09.2022 | |||
| 30.09.2021 | |||
| CURRENT ASSETS | £ | £ | |
| Cash at bank | 51,835 | ||
| 38,525 | |||
| CURRENT LIABILITIES | |||
| Creditors | (240) | (240) | |
| Accruals | 0 | ||
| 0 | |||
| TOTAL ASSETS LESS CURRENT LIABILITIES | 51,595 | 38,285 | |
| FUNDS | |||
| Unrestricted funds as at 01.10.2021/ (2020) | 38,285 | ||
| 24,345 | |||
| Surplus/(Defcit) of Income over Expenditure for the Year | 13,310 | ||
| 13,940 | |||
| Unrestricted Fund Balance at 30.09.2022/ (2021) | 51,595 | ||
| 38,285 | |||
| Of which:- | |||
| Designated Reserves | 20,000 | 17,000 | |
| Free Reserves | 31,595 | 21,285 | |
| Restricted Fund Balance at 30.09.2022/ (2021) | nil | ||
| nil |
For the year ended 30[th] September 2022 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:
- Ensuring the company keeps accounting records which comply with 386:
and
- 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 20/06/2023 Signed on behalf of the Board of Directors
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 2022
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.
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d. Unrestricted Funds
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Unrestricted funds are donations and other income received or generated
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for the charitable purposes.
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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 2022
| Unrestricted Unrestricted Funds There are no restricted funds available For the y/e 30.09.2022 INCOME AND EXPENDITURE £ Incoming resources Grants and other Public Subsidy 13,446 84,521 Donations and Sponsorship 15,935 Trading income 115,625 Other Mooring fees - - Total Incoming resources 145,006 There were no restricted funds during the year RESOURCES EXPENDED Direct charitable expenditure Puppet show production costs (82,226) Legal and Professional costs fee (275) (nil) Administration costs (31,470) (3,644) Property Costs (2,328) Advertising & Promotion (2,134) (1,588) |
Funds For the y/e 30.09.2021 £ 3,394 40,727 128,642 (88,023) (11,333) |
|---|---|
| Insurance | (3,748) | (3,748) | (2,221) | |
|---|---|---|---|---|
| Repairs & Maintenance | (6,888) | (3,677) | ||
| Travel & subsistence | (2,627) | (3,693) | ||
| Charity | (nil) | (523) | ||
| Total resources expended | (131,696) | |||
| (114,702) | ||||
| 8 | ||||
| RESERVES | ||||
| Opening reserves as at 1st October 2021/2020 | 38,285 | |||
| 24,345 | ||||
| Movement in the calendar year | 13,310 | |||
| 13,940 | ||||
| Closing reserves as at 30th September 2022/2021 | 51,595 |
|||
| 38,285 | ||||
| Of which:- | ||||
| Designated Reserves | 20,000 | 17,000 | ||
| Free Reserves | 31,595 | 21,285 | ||
| The notes on page 6 & 7 form part of | these fnancial statements. | |||
| Prepared by: Rob Middleton - Correspondent | ||||
| Examined by Simon Kingsley, Chartered Accountant |