REGISTERED CHARITY NUMBER: 279453
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2020
for
The Portsmouth Players
The Portsmouth Players
Contents of the Financial Statements for the Year Ended 31 December 2020
| Page | |
|---|---|
| Chairman's Report | 1 |
| Report of the Trustees | 2 to 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Statement of Financial Position | 7 |
| Notes to the Financial Statements | 8 to 16 |
The Portsmouth Players
Chairman's Report
for the Year Ended 31 December 2020
Membership
On 31 December 2020 the Portsmouth Players consisted of 21 Associate members, 29 Life Members, 6 Non-Playing Members, and 91 Playing members.
Shows
Both the shows planned for 2020 were cancelled due to the COVID-19 pandemic.
Deaths
We said a sad farewell to the following Players' members who passed away during 2020. We will remember them all with great fondness. RIP Babs Dunstane, John Dunstane, Sheila Justice, John Lindsey (former Players' Chairman) and Daphne Staniforth.
Players' News
2020 was due to be another busy year with three planned productions. Instead of our planned production of Sweeney Todd (which had to be postponed due to technical and artistic reasons) we decided to stage Rogers & Hammerstein Songbook, a musical review with a full scale orchestra on stage. In May we were scheduled to perform Chicago at The Gaiety Bar (a first time at the venue for Players) and in October, we were planning to be back at The Kings performing Kipps, The Half A Sixpence Musical. However, our plans were of course changed by the advent of COVID-19. The pandemic resulted in a last-minute cancellation of R&H Songbook, two days before opening. The committee then took the difficult decision to cancel Chicago due to the almost inevitable lack of rehearsal time. At the same time the committee decided to postpone Kipps until October 2021.
The company had hoped to be able to perform at least one show or film screening at the Studio Theatre in the Barn during the summer of 2020 but again, this was not possible due to the COVID-19 situation and regulations around rehearsals for amateurs.
During 2020, the committee had to make some challenging decisions about future productions plans. Based on the situation with COVID-19 and the potential disruption to rehearsals, audience attendance, sales etc. the committee decided to cancel the production of Kipps. The next production scheduled for The Kings will be Disney's Hunchback of Notre Dame in October 2021, followed by Kinky Boots in March 2022.
In summary, 2020 has been a challenging and quiet year for the company, both artistically and socially. The committee are very grateful to company members who have attended meetings via Zoom and have helped the company to continue by paying their membership fees as normal. This is especially important as these fees currently constitute the bulk of our income. The company is also grateful for the various COVID-19 related support grants that we have received from the government and local council. I would like to thank our Treasurer, Brian Johnson, for ensuring that we have received the correct payments. Brian has also visited the Barn on a regular basis, ensuring that the building remains safe and secure whilst not in use.
I am very proud to be a member of Portsmouth Players and I thank you all for your continued support. We have a very difficult year and this is continuing into 2021. However, I'm proud of the way that the Players family have supported one another during 2020 and I know that they will continue to do the same through the months ahead. During 2021 we look to you for your continued support in order to remain strong as a society and charitable organisation, staying true to our core values of bringing entertainment to our local communities.
Jack Edwards Chairman
Page 1
The Portsmouth Players
Report of the Trustees for the Year Ended 31 December 2020
The trustees present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of 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) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objects of the charity
The principal object of the charity is to educate the public in the dramatic and operatic arts and to further the development of public appreciation and taste in the said arts. To achieve this the Portsmouth Players:
-
produce high quality musical productions from professional venues using professional
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a) costumes, scenery and directors.
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produce a variety of operatic and dramatic arts in the Portsmouth area of a kind that
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b) would be unlikely to be brought to the city by touring professional companies.
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c) set competitive ticket prices for all its productions
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d) offer membership to a broad range of people to get involved in dramatic arts.
Activities of the charity
All activities in 2020 were suspended due to the Covid-19 pandemic.
The charity aims to appeal to as many people as possible and to educate the public in the dramatic and operatic arts and to further the development of public appreciation and taste in the said arts.
Social investments
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities. The trustees refer to public benefit throughout this report.
FINANCIAL REVIEW Review of activities
The result for the year has shown a deficit on activities of £14,378 (31.12.19: Deficit £26,976).
The above results include support costs which are necessary to include with the Charitable Activities. The allocation of the support costs can be seen in Note 7 to the accounts.
Investment powers
The charity has the power to make any investment which the trustees see fit.
Reserves policy and risk management
The trustees are continually monitoring the level of reserves held by the charity. The trustees consider that the charity needs to retain a level of reserves approximately equivalent to the complete loss on one major production. The trustees therefore consider that holding a reserve of approximately £50,000 is sufficient for that purpose. At the year end the total general reserves stood at £88,915 (31.12.19: £103,293).
FUTURE PLANS
It is the intention of the trustees to produce one show in 2021 once the Covid-19 Government restrictions are lifted.
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The Portsmouth Players
Report of the Trustees
for the Year Ended 31 December 2020
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The Portsmouth Players is a registered charity (registration number 279453). The charity is an unincorporated organisation and its constitution is laid down in its rulebook.
Organisation
The executive committee, who meet regularly administer the charity.
The Committee stands for re-election at the Annual General Meeting and any changes proposed have to be made in writing to the Hon Secretary and have a proposer and seconder then to be voted on at the meeting.
Related parties
The charity does not have any related party transactions to disclose.
Risk management
The trustees are constantly reviewing the charity's exposure to risk. The Portsmouth Players have been managed by it members for over 90 years and during this time a considerable amount of experience has been gained. The trustees plan each year to ensure that the charity is not exposed to un-acceptable risk. Each year the trustees present a balance of productions to the membership which will hopefully achieve a status quo in the level of reserves held. However, in some years it will exceed this target if the productions are well supported but this will be balanced by less successful years.
The trustees do not consider there to be any significant risks to the charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
279453
Principal address
26a Wheatstone Road Southsea Hampshire PO4 0LJ
Trustees
Jack Edwards Chairman Katharine Guthrie Hon Secretary Robert Day Vice Chairman / Contracts Manager Brian Johnson Hon Treasurer Carrole Coles Admin Manager (resigned 12.5.20) Georgina-Rose Rust Production secretary Kayleigh Pendry Membership secretary Tony Bryant Admin Manager (appointed 6.10.20)
Solicitors
Blake Morgan LLP Harbour Court Compass Road North Harbour Portsmouth PO6 4ST
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The Portsmouth Players
Report of the Trustees
for the Year Ended 31 December 2020
REFERENCE AND ADMINISTRATIVE DETAILS
Bankers
Natwest Bank Plc 69 - 73 High Street Cosham Portsmouth Hampshire PO6 3DA
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.......................................................... Jack Edwards - Trustee
Page 4
Independent Examiner's Report to the Trustees of The Portsmouth Players
Independent examiner's report to the trustees of The Portsmouth Players
I report to the charity trustees on my examination of the accounts of The Portsmouth Players (the Trust) for the year ended 31 December 2020.
Responsibilities and basis 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 Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
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:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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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 fair view which is not a matter considered as part of an independent examination.
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.
M G Wilson FCCA
Date: .............................................
Page 5
The Portsmouth Players
Statement of Financial Activities for the Year Ended 31 December 2020
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 9,149 Charitable activities 4 Grease - Jesus Christ Superstar - Investment income 3 39 Other income 11,334 Total 20,522 EXPENDITURE ON Charitable activities 5 Priscilla Queen of the Desert - Grease - Jesus Christ Superstar - Sweeny Todd 825 R&H Songbook 2,030 Overheads unable to allocate to shows 31,905 Total 34,760 Net gains/(losses) on investments (140) NET INCOME/(EXPENDITURE) (14,378) RECONCILIATION OF FUNDS Total funds brought forward 103,293 TOTAL FUNDS CARRIED FORWARD 88,915 |
Restricted funds £ - - - - - - - - - - - - - - - 173,240 173,240 |
31.12.20 Total funds £ 9,149 - - 39 11,334 20,522 - - - 825 2,030 31,905 34,760 (140) (14,378) 276,533 262,155 |
31.12.19 Total funds £ 12,431 73,626 34,245 138 - 120,440 280 80,450 63,069 3,736 - - 147,535 119 (26,976) 303,509 276,533 |
|---|---|---|---|
The notes form part of these financial statements
Page 6
The Portsmouth Players
Statement of Financial Position 31 December 2020
| Notes FIXED ASSETS Tangible assets 10 CURRENT ASSETS Debtors 11 Investments 12 Cash at bank 13 CREDITORS Amounts falling due within one year 14 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 16 Unrestricted funds Restricted funds TOTAL FUNDS |
31.12.20 £ 202,249 7,774 774 60,641 69,189 (9,283) 59,906 262,155 262,155 88,915 173,240 262,155 |
31.12.19 £ 215,110 15,051 914 54,061 70,026 (8,603) 61,423 276,533 276,533 103,293 173,240 276,533 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Jack Edwards - Trustee
............................................. Brian Johnson - Trustee
The notes form part of these financial statements
Page 7
The Portsmouth Players
Notes to the Financial Statements for the Year Ended 31 December 2020
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Financial reporting standard 102 - reduced disclosure exemptions
The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - in accordance with the property lease Furniture & Equipment - 25% on reducing balance, 20% on reducing balance, 15% on reducing balance and 10% on reducing balance
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
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The Portsmouth Players
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
1. ACCOUNTING POLICIES - continued
Fund accounting
The "Space 99" fund was used to raise funds for the National Lottery supported rebuild of the Charity's rehearsal rooms.
The Bursary Fund provides financial support for members to obtain theatrical related education.
2. DONATIONS AND LEGACIES
| 2. | DONATIONS AND LEGACIES | ||
|---|---|---|---|
| 31.12.20 | 31.12.19 | ||
| £ | £ | ||
| Donations | 1,842 | 5,626 | |
| Gift aid | 1,377 | 720 | |
| Subscriptions | 5,930 | 6,085 | |
| 9,149 | 12,431 | ||
| 3. | INVESTMENT INCOME | ||
| 31.12.20 | 31.12.19 | ||
| £ | £ | ||
| Deposit account interest | 39 | 101 | |
| Dividend income | - | 37 | |
| 39 | 138 |
All investment income is derived from assets held in the United Kingdom.
4. INCOME FROM CHARITABLE ACTIVITIES
| Ticket sales Programmes and printing Advertising revenue Merchandise sales Performance levy |
31.12.20 Total activities £ - - - - - - |
31.12.19 Total activities £ 102,926 1,818 600 90 2,437 107,871 |
|---|---|---|
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The Portsmouth Players
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
5. CHARITABLE ACTIVITIES COSTS
| Direct Costs (see note 6) £ Sweeny Todd 825 R&H Songbook 2,030 Overheads unable to allocate to shows - 2,855 6. DIRECT COSTS OF CHARITABLE ACTIVITIES Theatre hire and royalties Orchestra, scripts and scores Production fees and expenses Scenery, lighting, costumes and props Printing, advertising and theatre allowance Miscellaneous expenses 7. SUPPORT COSTS The Barn £ Overheads unable to allocate to shows 7,692 |
Support costs (see note 7) £ - - 31,905 31,905 31.12.20 £ - 206 2,600 - - 49 2,855 Overheads £ 24,213 |
Totals £ 825 2,030 31,905 34,760 31.12.19 £ 55,595 6,387 4,780 38,264 10,340 156 115,522 Totals £ 31,905 |
|---|---|---|
Activity The Barn Overheads
Basis of allocation
Overheads unable to allocate to shows Overheads unable to allocate to shows
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The Portsmouth Players
Notes to the Financial Statements - continued
for the Year Ended 31 December 2020
7. SUPPORT COSTS - continued
Support costs, included in the above, are as follows:
The Barn
| The Barn | ||
|---|---|---|
| 31.12.20 | 31.12.19 | |
| Overheads | ||
| unable to | ||
| allocate | Total | |
| to shows | activities | |
| £ | £ | |
| Rates and water | 272 | 694 |
| Rent | 3,341 | 2,500 |
| Light and heat | 1,137 | 1,576 |
| Telephone | 352 | 348 |
| Repairs and cleaning | 2,590 | 3,279 |
| 7,692 | 8,397 | |
| Overheads | ||
| 31.12.20 | 31.12.19 | |
| Overheads | ||
| unable to | ||
| allocate | Total | |
| to shows | activities | |
| £ | £ | |
| Postage and stationery | 188 | 233 |
| Sundry expenses | 122 | 1,164 |
| Subscriptions and licences | 210 | 647 |
| Photocopier costs | 253 | 392 |
| Insurance | 8,059 | 5,547 |
| Accountancy and IE fee | 2,520 | 2,520 |
| Marketing and website | - | 238 |
| Depreciation of tangible fixed assets | 12,861 | 12,875 |
| 24,213 | 23,616 |
Overheads
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.
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The Portsmouth Players
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
| 9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted fund funds £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 12,431 - Charitable activities Grease 73,626 - Jesus Christ Superstar 34,245 - Investment income 138 - Total 120,440 - EXPENDITURE ON Charitable activities Priscilla Queen of the Desert 280 - Grease 77,480 2,970 Jesus Christ Superstar 60,099 2,970 Sweeny Todd 3,736 - Total 141,595 5,940 Net gains on investments 119 - NET INCOME/(EXPENDITURE) (21,036) (5,940) RECONCILIATION OF FUNDS Total funds brought forward 124,330 179,179 TOTAL FUNDS CARRIED FORWARD 103,294 173,239 |
Total funds £ 12,431 73,626 34,245 138 120,440 280 80,450 63,069 3,736 147,535 119 (26,976) 303,509 276,533 |
|---|---|
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The Portsmouth Players
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
| 10. TANGIBLE FIXED ASSETS Long Furniture leasehold & Equipment £ £ COST At 1 January 2020 and 31 December 2020 296,959 88,168 DEPRECIATION At 1 January 2020 124,719 45,298 Charge for year 5,939 6,922 At 31 December 2020 130,658 52,220 NET BOOK VALUE At 31 December 2020 166,301 35,948 At 31 December 2019 172,240 42,870 11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.20 £ Gift Aid recoverable from HMRC 900 Future production expenditure 5,298 Due from Kings Theatre - Prepaid overhead expenditure 1,576 7,774 12. CURRENT ASSET INVESTMENTS 31.12.20 £ Listed investments 774 |
Totals £ 385,127 170,017 12,861 182,878 202,249 215,110 31.12.19 £ 760 4,798 8,516 977 15,051 31.12.19 £ 914 |
|---|---|
The above represents the charity's investment in Barclays Bank Plc shares. The movement in the year represents the unrealised loss during the year.
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The Portsmouth Players
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
13. CASH AT BANK
| Natwest Business Reserve Natwest General Account Natwest Production Account Natwest Bursary Account Natwest Ticket Booking Account Total |
General Fund £ 50,623 100 8,097 - 821 59,641 |
31.12.20 31.12.19 Bursary Total Total Fund funds funds £ £ £ - 50,623 49,747 - 100 100 - 8,097 2,567 1,000 1,000 1,000 - 821 647 1,000 60,641 54,061 |
|---|---|---|
14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Accrued expenses Deferred income - show levies received in advance 15. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted fund £ Fixed assets 30,009 Current assets 68,189 Current liabilities (9,283) 88,915 16. MOVEMENT IN FUNDS Unrestricted funds General Fund Restricted funds "Space 99" Fund Bursary Fund TOTAL FUNDS |
Restricted funds £ 172,240 1,000 - 173,240 At 1.1.20 £ 103,293 172,240 1,000 173,240 276,533 |
31.12.20 £ 8,358 925 9,283 31.12.20 Total funds £ 202,249 69,189 (9,283) 262,155 Net movement in funds £ (14,378) - - - (14,378) |
31.12.19 £ 8,358 245 8,603 31.12.19 Total funds £ 215,110 70,026 (8,603) 276,533 At 31.12.20 £ 88,915 172,240 1,000 173,240 262,155 |
|---|---|---|---|
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The Portsmouth Players
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
16. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming Resources Gains and resources expended losses £ £ £ Unrestricted funds General Fund 20,522 (34,760) (140) TOTAL FUNDS 20,522 (34,760) (140) Comparatives for movement in funds Net movement At 1.1.19 in funds £ £ Unrestricted funds General Fund 124,330 (21,037) Restricted funds "Space 99" Fund 178,179 (5,939) Bursary Fund 1,000 - 179,179 (5,939) TOTAL FUNDS 303,509 (26,976) Comparative net movement in funds, included in the above are as follows: Incoming Resources Gains and resources expended losses £ £ £ Unrestricted funds General Fund 120,440 (141,596) 119 Restricted funds "Space 99" Fund - (5,939) - TOTAL FUNDS 120,440 (147,535) 119 |
Movement in funds £ (14,378) (14,378) At 31.12.19 £ 103,293 172,240 1,000 173,240 276,533 Movement in funds £ (21,037) (5,939) (26,976) |
|---|---|
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The Portsmouth Players
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
16. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General Fund Restricted funds "Space 99" Fund Bursary Fund TOTAL FUNDS |
At 1.1.19 £ 124,330 178,179 1,000 179,179 303,509 |
Net movement in funds £ (35,415) (5,939) - (5,939) (41,354) |
At 31.12.20 £ 88,915 172,240 1,000 173,240 262,155 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General Fund | 140,962 | (176,356) | (21) | (35,415) |
| Restricted funds | ||||
| "Space 99" Fund | - | (5,939) | - | (5,939) |
| TOTAL FUNDS | 140,962 | (182,295) | (21) | (41,354) |
17. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2020.
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