**REGISTERED CHARITY NUMBER: 279453**
## Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2021
for
The Portsmouth Players
The Portsmouth Players
Contents of the Financial Statements for the Year Ended 31 December 2021
||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 18|
The Portsmouth Players
Chairman's Report for the Year Ended 31 December 2021
## Membership
On 31 December 2021 the Portsmouth Players consisted of 20 Associate members, 29 Life Members, 6 Non-Playing Members, and 78 Playing members.
## Shows
Due to the pandemic, the show schedule for 2021 was curtailed to an autumn/winter season at the Barn.
## Deaths
In 2021 we said a sad farewell to the following Portsmouth Player members: John Tucker and John Hadley. We will remember both of them with great fondness. RIP.
## Players' News:
After the cancellations and disappointments of 2020, the committee was understandably cautious about committing to announcing productions for 2021. Although no shows were produced in the first half of the year, at the end of the summer work began on an ambitious autumn/winter season in the Studio Theatre at The Barn. This season was to consist of four shows: Shirley Valentine, All Together Now, The Vicar of Dibley and The Flint Street Nativity. The first three were resounding successes, playing to almost sell-out houses and all of them more than re-couped expenditure.
Sadly, a decision had to be taken to cancel the production of The Flint Street Nativity due to lack of numbers of playing members applying to audition. This was also an issue during the casting of The Vicar of Dibley with the production team having to look outside the company to ensure that all roles were cast.
During 2021, the committee continued to make difficult decisions about future productions plans. Based on the situation with COVID-19, falling numbers of playing members, audience attendance, sales etc. the committee decided to cancel the Disney's Hunchback of Notre Dame in October 2021, Kinky Boots in March 2022 and Elf in October 2022. However, the committee were able to secure the rights to a number of exciting shows for 2022 and 2023.
In summary, whilst not as quiet as 2020, 2021 has still been a challenging year for the company, both artistically and socially. The committee are very grateful to company members who have attended meetings via Zoom and in person and who 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 continued to visit the Barn on a regular basis, ensuring that the building remains safe and secure whilst not in use. Our Premises Manager, Trevor Blofeld, joined us at the end of 2021 and is now supporting Brian with keeping a close eye on the integrity and safety of the building.
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 2022. However, I'm proud of the way that the Players family have supported one another during 2021 and I know that they will continue to do the same through the months ahead. During 2022 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 2021
The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. 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:
- a) produce high quality musical productions from professional venues using professional costumes, scenery and directors.
- b) produce a variety of operatic and dramatic arts in the Portsmouth area of a kind that would be unlikely to be brought to the city by touring professional companies.
- c) set competitive ticket prices for all its productions
- d) offer membership to a broad range of people to get involved in dramatic arts.
## **Activities of the charity**
During the year the charity was able to produce three shows at the Barn - Shirley Valentine, Vicar of Dibley and All Together Now.
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 surplus on activities of £6,726 (31.12.20: Deficit £14,378).
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 £107,519 (31.12.20: £94,854).
Page 2
The Portsmouth Players
Report of the Trustees for the Year Ended 31 December 2021
## **FUTURE PLANS**
It is the intention of the trustees to produce two shows during 2022.
## **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 Georgina-Rose Rust Production secretary Kayleigh Pendry Membership secretary Tony Bryant Publicity Manager Jo Aldridge Admin (Co-opted May 2021) Trevor Blofeld Barn Manager (Co-opted August 2021)
Page 3
The Portsmouth Players
Report of the Trustees for the Year Ended 31 December 2021
## **REFERENCE AND ADMINISTRATIVE DETAILS Solicitors**
Blake Morgan LLP Harbour Court Compass Road North Harbour Portsmouth PO6 4ST
## **Bankers**
Natwest Bank Plc 69 - 73 High Street Cosham Portsmouth Hampshire PO6 3DA Approved by order of the board of trustees on 28 March 2022 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 2021.
## **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:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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: 28 March 2022
Page 5
The Portsmouth Players
## Statement of Financial Activities for the Year Ended 31 December 2021
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
9,564
**Charitable activities**
4
Barn Studio Productions
15,370
Investment income
3
24
Covid grants
16,907
**Total**
41,865
**EXPENDITURE ON**
**Charitable activities**
5
Sweeny Todd
-
R&H Songbook
-
Overheads unable to allocate to shows
-
Barn Studio Productions
29,413
**Total**
29,413
Net gains/(losses) on investments
213
**NET INCOME/(EXPENDITURE)**
12,665
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
94,854
**TOTAL FUNDS CARRIED FORWARD**
107,519|Restricted
funds
£
-
-
-
-
-
-
-
-
5,939
5,939
-
(5,939)
167,301
161,362|31.12.21
Total
funds
£
9,564
15,370
24
16,907
41,865
-
-
-
35,352
35,352
213
6,726
262,155
268,881|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|
|---|---|---|---|
The notes form part of these financial statements
Page 6
## The Portsmouth Players
## Statement of Financial Position 31 December 2021
|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**|31.12.21
£
189,718
8,991
987
70,467
80,445
(1,282)
79,163
268,881
268,881
107,519
161,362
268,881|31.12.20
£
202,249
7,774
774
60,641
69,189
(9,283)
59,906
262,155
262,155
94,854
167,301
262,155|
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 28 March 2022 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 2021
## **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.
Page 8
continued...
The Portsmouth Players
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
## **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**|||
|---|---|---|---|
|||31.12.21|31.12.20|
|||£|£|
||Donations|3,135|1,842|
||Gift aid|1,169|1,377|
||Subscriptions|5,260|5,930|
|||9,564|9,149|
|**3.**|**INVESTMENT INCOME**|||
|||31.12.21|31.12.20|
|||£|£|
||Deposit account interest|8|39|
||Dividend income|16|-|
|||24|39|
All investment income is derived from assets held in the United Kingdom.
Page 9
continued...
The Portsmouth Players
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
|**4.**|**INCOME FROM CHARITABLE ACTIVITIES**|||||
|---|---|---|---|---|---|
||||31.12.21|31.12.20||
||||Barn|||
||||Studio|Total||
||||Productions|activities||
||||£|£||
||Ticket sales||13,072||-|
||Programmes and printing||462||-|
||Refreshment sales||1,836||-|
||||15,370|-||
|**5.**|**CHARITABLE ACTIVITIES COSTS**|||||
|||Direct|Support|||
|||Costs (see|costs (see|||
|||note 6)|note 7)|Totals||
|||£|£|£||
||Barn Studio Productions|2,363|32,989|35,352||
|**6.**|**DIRECT COSTS OF CHARITABLE ACTIVITIES**|||||
||||31.12.21|31.12.20||
||||£|£||
||Theatre hire and royalties||2,194||-|
||Orchestra, scripts and scores||-|206||
||Production fees and expenses||708|2,600||
||Scenery, lighting, costumes and props||1,861||-|
||Printing, advertising and theatre allowance||1,694||-|
||Miscellaneous expenses||84|49||
||Refreshment purchases||652||-|
||Cancelled production costs||2,898||-|
||Royalties not payable||(7,728)||-|
||||2,363|2,855||
Page 10
continued...
The Portsmouth Players
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
## **7. SUPPORT COSTS**
|**SUPPORT COSTS**|||
|---|---|---|
|Barn Studio Productions
Activity
The Barn
Overheads|The Barn
Overheads
£
£
7,500
25,489
Basis of allocation
Allocated equally to productions
Allocated equally to productions|Totals
£
32,989|
||||
Support costs, included in the above, are as follows:
## **The Barn**
|**The Barn**|||
|---|---|---|
||31.12.21|31.12.20|
||Barn||
||Studio|Total|
||Productions|activities|
||£|£|
|Rates and water|206|272|
|Rent|3,017|3,341|
|Light and heat|606|1,137|
|Telephone|354|352|
|Repairs and cleaning|3,317|2,590|
||7,500|7,692|
|**Overheads**|||
||31.12.21|31.12.20|
||Barn||
||Studio|Total|
||Productions|activities|
||£|£|
|Postage and stationery|51|188|
|Sundry expenses|627|122|
|Subscriptions and licences|162|210|
|Photocopier costs|542|253|
|Insurance|9,056|8,059|
|Accountancy and IE fee|2,520|2,520|
|Depreciation of tangible fixed assets|12,531|12,861|
||25,489|24,213|
## **Overheads**
Page 11
continued...
The Portsmouth Players Notes to the Financial Statements - continued for the Year Ended 31 December 2021
## **8. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2021 nor 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
9,149
-
Investment income
39
-
Covid grants
11,334
-
**Total**
20,522
-
**EXPENDITURE ON**
**Charitable activities**
Sweeny Todd
825
-
R&H Songbook
2,030
-
Overheads unable to allocate to shows
25,966
5,939
**Total**
28,821
5,939
Net gains/(losses) on investments
(140)
-
**NET INCOME/(EXPENDITURE)**
(8,439)
(5,939)
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
103,293
173,240
**TOTAL FUNDS CARRIED FORWARD**
94,854
167,301|Total
funds
£
9,149
39
11,334
20,522
825
2,030
31,905
34,760
(140)
(14,378)
276,533
262,155|
|---|---|
Page 12
continued...
The Portsmouth Players
## Notes to the Financial Statements - continued for the Year Ended 31 December 2021
|**10.**
**TANGIBLE FIXED ASSETS**
Long
Furniture
leasehold & Equipment
£
£
**COST**
At 1 January 2021 and
31 December 2021
296,959
88,168
**DEPRECIATION**
At 1 January 2021
130,658
52,220
Charge for year
5,939
6,592
At 31 December 2021
136,597
58,812
**NET BOOK VALUE**
At 31 December 2021
160,362
29,356
At 31 December 2020
166,301
35,948
**11.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
31.12.21
£
Gift Aid recoverable from HMRC
1,000
Future production expenditure
6,268
Prepaid overhead expenditure
1,723
8,991
**12.**
**CURRENT ASSET INVESTMENTS**
31.12.21
£
Listed investments
987|Totals
£
385,127
182,878
12,531
195,409
189,718
202,249
31.12.20
£
900
5,298
1,576
7,774
31.12.20
£
774|
|---|---|
The above represents the charity's investment in Barclays Bank Plc shares. The movement in the year represents the unrealised loss during the year.
Page 13
continued...
The Portsmouth Players
## Notes to the Financial Statements - continued for the Year Ended 31 December 2021
## **13. CASH AT BANK**
|Natwest Business Reserve
Natwest General Account
Natwest Production Account
Natwest Bursary Account
Natwest Ticket Booking Account
Total|General
Fund
£
65,260
100
4,057
-
50
69,467|31.12.21
31.12.20
Bursary
Total
Total
Fund
funds
funds
£
£
£
-
65,260
50,623
-
100
100
-
4,057
8,097
1,000
1,000
1,000
-
50
821
1,000
70,467
60,641|
|---|---|---|
|**14.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
|---|---|---|---|
|||31.12.21|31.12.20|
|||£|£|
||Accrued expenses|1,282|8,358|
||Deferred income|-|925|
|||1,282|9,283|
|**15.**|**ANALYSIS OF NET ASSETS BETWEEN FUNDS**|||
|Unrestricted
fund
£
Fixed assets
29,356
Current assets
79,445
Current liabilities
(1,282)
107,519|Restricted
funds
£
160,362
1,000
-
161,362|31.12.21
Total
funds
£
189,718
80,445
(1,282)
268,881|31.12.20
Total
funds
£
202,249
69,189
(9,283)
262,155|
|---|---|---|---|
Page 14
continued...
The Portsmouth Players
## Notes to the Financial Statements - continued for the Year Ended 31 December 2021
## **16. MOVEMENT IN FUNDS**
|At 1.1.21
£
**Unrestricted funds**
General Fund
94,854
**Restricted funds**
"Space 99" Fund
166,301
Bursary Fund
1,000
167,301
**TOTAL FUNDS**
262,155
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General Fund
41,865
(29,413)
**Restricted funds**
"Space 99" Fund
-
(5,939)
**TOTAL FUNDS**
41,865
(35,352)|Net
movement
in funds
£
12,665
(5,939)
-
(5,939)
6,726
Gains and
losses
£
213
-
213|At
31.12.21
£
107,519
160,362
1,000
161,362
268,881
Movement
in funds
£
12,665
(5,939)
6,726|
|---|---|---|
Page 15
continued...
The Portsmouth Players Notes to the Financial Statements - continued for the Year Ended 31 December 2021
## **16. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|Net
movement
At 1.1.20
in funds
£
£
**Unrestricted funds**
General Fund
103,293
(8,439)
**Restricted funds**
"Space 99" Fund
172,240
(5,939)
Bursary Fund
1,000
-
173,240
(5,939)
**TOTAL FUNDS**
276,533
(14,378)
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
Gains and
resources
expended
losses
£
£
£
**Unrestricted funds**
General Fund
20,522
(28,821)
(140)
**Restricted funds**
"Space 99" Fund
-
(5,939)
-
**TOTAL FUNDS**
20,522
(34,760)
(140)|At
31.12.20
£
94,854
166,301
1,000
167,301
262,155
Movement
in funds
£
(8,439)
(5,939)
(14,378)|
|---|---|
Page 16
continued...
The Portsmouth Players Notes to the Financial Statements - continued for the Year Ended 31 December 2021
## **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 1.1.20
£
103,293
172,240
1,000
173,240
276,533|Net
movement
in funds
£
4,226
(11,878)
-
(11,878)
(7,652)|At
31.12.21
£
107,519
160,362
1,000
161,362
268,881|
|---|---|---|---|
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|62,387|(58,234)|73|4,226|
|**Restricted funds**|||||
|"Space 99" Fund|-|(11,878)|-|(11,878)|
|**TOTAL FUNDS**|62,387|(70,112)|73|(7,652)|
Page 17
continued...
The Portsmouth Players
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
## **17. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 December 2021.
Page 18