REGISTERED COMPANY NUMBER: 01933168 (England and Wales) REGISTERED CHARITY NUMBER: 292448
REPORT OF THE TRUSTEES AND
AUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021
FOR
WOKINGHAM THEATRE
WOKINGHAM THEATRE
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
| Page | |
|---|---|
| Report of the Trustees | 1 to 4 |
| Report of the Independent Auditors | 5 to 8 |
| Statement of Financial Activities | 9 |
| Balance Sheet | 10 |
| Notes to the Financial Statements | 11 to 18 |
| Detailed Statement of Financial Activities | 19 to 20 |
WOKINGHAM THEATRE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2021. The trustees have adopted the provisions of Accountingand Reporting by Charities: Statement of RecommendedPractice 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
Significant activities
The principal activity of the Theatre is to promote the enjoymentof all aspects of theatre in the Wokingham area and to provide facilities and opportunities for its members to participate in such activities.
Volunteers
Theatre membershipis open to anyone over the age of 16 against an annual subscription of £20 (£5 for students) and those members work on an unpaid basis to carry out all of the activities associated with staging performances, maintainingthe building and equipment,administeringthe Theatre and running the Youth Theatre. On average we sell over 97% of the tickets available - effectively playing to full houses.
There are no selection criteria for members, and all members receive a monthly newsletter which includes notificationof show auditions as well as appeals for assistance in other aspects of the Theatre's activities such as helping Front of House during productions.
ACHIEVEMENT AND PERFORMANCE
Due to continuingCovid-19 restrictions the Theatre remained dark for most of the financial year. There was one outdoor production in September 2020 and a small production in August 2021 which was offered at 50% capacity. A normal eight production season is planned for 2021/22.
The Youth Theatre was able to resume in-theatre classes in the Spring and held a showcase in August 2021. They are currently planning a normal season for 2021/22.
As with previous years it was our intentionto offer a range of training opportunitiesto members, but the enforced lockdown meant that these activities were curtailed.
The Board took the opportunity of the enforced closedownto undertake a full scale refurbishment of the dressing rooms, workshop, foyer and box office thus the facilities were not available for the wider community. The Theatre will resume its normal engagement with the community in 2021/22.
FINANCIAL REVIEW
Investment policy and objectives
Overall, the Theatre's policy is to identify its accumulated retained profit as a "building fund" to finance future enhancements to the property and its facilities.
The plans for building a Studio are currently on hold as eighteenmonths without our normal income has had an impact on savings. However a barn is currently under construction which will provide additional storage space.
Fundraising has been more limited this year but the Theatre has received Gift Aid, Donations and Grants to the value of £28,732 during the year.
Page 1
WOKINGHAM THEATRE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021
FINANCIAL REVIEW
Reserves policy
The Theatre has no outstanding loans or other financial commitments. Budgets are agreed by the Board at the start of the financial year - based on past expenditure and any planned variation from the norm. Through the monthly financial reporting, the Board is able to ensure that sufficient funds are available to meet anticipated spend.
FUTURE PLANS
There are no plans to make fundamental changes to the Theatre's annual programme of activities or way of operating. The Board's policy is to maintain and build on our strong position in the community by offering a varied and challengingprogramme for our members and audiences and by making ourselves accessible to a broad spectrum of the local community.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlledby its governingdocument, a deed of trust, and constitutes a limitedcompany, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
01933168 (England and Wales)
Registered Charity number
292448
Registered office
Twyford Road Wokingham Berkshire RG40 5TU
Trustees
Mrs H Bird (resigned 18.11.20) Mr B N Kellett Mr T Joy (resigned 18.11.20) Mr S Hamilton (resigned 18.11.20) Ms S Daykin Mr D J Andrew (resigned 18.11.20) Mrs D Hogg Mr D A Stacey Ms R J Tizzard Mr J C Radburn Mr S Joy (appointed 18.11.20) Mr L White (appointed 18.11.20) Mr N Goodhand (appointed 18.11.20) Mr A P Long (appointed 18.11.20)
Page 2
WOKINGHAM THEATRE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021
REFERENCE AND ADMINISTRATIVE DETAILS
Company Secretary
Ms S De Quidt
Auditors
Vale & West Accountancy Services Limited Chartered Accountants Statutory Auditors Victoria House 26 Queen Victoria Street Reading Berkshire RG1 1TG
EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.
THE COVID-19 PANDEMIC
The theatre remained largely closed throughout the financial year, being unable to reopen in March 2021 as had been hoped. The new season for 2021/22 has been sellingreasonably well, although there is some reluctance from some patrons to return to the theatre yet. At the end of the financial year the Theatre had reserves of £742,862 and remains a going concern.
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of Wokingham Theatre for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements 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 charitable company will continue in business.
The trustees are responsiblefor keepingproper accountingrecords which disclosewith reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 3
WOKINGHAM THEATRE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021
STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued
In so far as the trustees are aware:
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there is no relevant audit information of which the charitable company's auditors are unaware; and
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the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 16 November 2021 and signed on its behalf by:
Ms S De Quidt - Secretary
Page 4
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WOKINGHAM THEATRE
Opinion
We have audited the financial statements of Wokingham Theatre (the 'charitable company') for the year ended 31 August 2021 which comprise the Statement of Financial Activities,the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In our opinion the financial statements:
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give a true and fair view of the state of the charitable company's affairs as at 31 August 2021 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
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- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and
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have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conductedour audit in accordance with International Standards on Auditing(UK) (ISAs (UK)) and applicable law. Our responsibilitiesunder those standards are further described in the Auditors' responsibilitiesfor the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and the provisions available for small entities, in the circumstances set out in note 13 to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believethat the audit evidencewe have obtained is sufficient and appropriate to provide a basis for our opinion.
Material uncertainty related to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Page 5
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WOKINGHAM THEATRE
Other information
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connectionwith our audit of the financial statements, our responsibilityis to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
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the Report of the Trustees has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.
We have nothing to report in respect of the followingmatters where the Companies Act 2006 requires us to report to you if, in our opinion:
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adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of trustees' remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit; or
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the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.
Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities,the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determineis necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Page 6
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WOKINGHAM THEATRE
Our responsibilities for the audit of the financial statements
Our objectivesare to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conductedin accordance with ISAs (UK) will always detect a material misstatementwhen it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliancewith laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
The extent to which the audit was considered capable of detecting irregularities including fraud
Our approach to identifyingand assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
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the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; - we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sector;
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we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, includingthe Companies Act 2006, taxation legislation and data protection, anti-bribery, employment,and health and safety legislation;
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we assessed the extent of compliancewith the laws and regulations identifiedabove through making enquiries of management and inspecting legal correspondence; and
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identifiedlaws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibilityof the company’s financial statements to material misstatement,including obtaining an understanding of how fraud might occur, by:
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making enquiries of management as to where they consideredthere was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
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considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
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performed analytical procedures to identify any unusual or unexpected relationships;
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tested journal entries to identify unusual transactions;
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assessed whether judgements and assumptions made in determiningthe accounting estimates were indicative of potential bias; and
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investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
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agreeing financial statement disclosures to underlying supporting documentation;
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reading the minutes of meetings of those charged with governance; and
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enquiring of management as to actual and potential litigation and claims.
Page 7
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WOKINGHAM THEATRE
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliancewith laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatementsthat arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities.This descriptionforms part of our Report of the Independent Auditors.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Kathryn Cutts BSc FCA (Senior Statutory Auditor) for and on behalf of Vale & West Accountancy Services Limited Chartered Accountants Statutory Auditors Victoria House 26 Queen Victoria Street Reading Berkshire RG1 1TG
29 November 2021
Page 8
WOKINGHAM THEATRE
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2021
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 3 28,733 Other trading activities 4 19,765 Investment income 5 321 Other income 440 Total 49,259 EXPENDITURE ON Raising funds 39,143 Other 87,435 Total 126,578 NET INCOME/(EXPENDITURE) (77,319) Transfers between funds 11 15,000 Net movement in funds (62,319) RECONCILIATION OF FUNDS Total funds brought forward 805,181 TOTAL FUNDS CARRIED FORWARD 742,862 |
Restricted fund £ - - - - - - - - - (15,000) (15,000) 15,000 - |
31.8.21 Total funds £ 28,733 19,765 321 440 49,259 39,143 87,435 126,578 (77,319) - (77,319) 820,181 742,862 |
31.8.20 Total funds £ 15,895 134,250 896 - 151,041 48,713 80,782 129,495 21,546 - 21,546 798,635 820,181 |
|---|---|---|---|
The notes form part of these financial statements
Page 9
WOKINGHAM THEATRE
BALANCE SHEET 31 AUGUST 2021
| Notes FIXED ASSETS Tangible assets 8 CURRENT ASSETS Debtors 9 Cash at bank CREDITORS Amounts falling due within one year 10 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 11 Unrestricted funds: General fund Restricted funds TOTAL FUNDS |
Unrestricted fund £ 287,071 279,115 236,167 515,282 (59,491) 455,791 742,862 742,862 |
Restricted fund £ - - - - - - - - |
31.8.21 Total funds £ 287,071 279,115 236,167 515,282 (59,491) 455,791 742,862 742,862 742,862 - 742,862 |
31.8.20 Total funds £ 213,521 223,857 417,182 641,039 (34,379) 606,660 820,181 820,181 805,181 15,000 820,181 |
|---|---|---|---|---|
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 16 November 2021 and were signed on its behalf by:
Mr S Joy - Trustee
The notes form part of these financial statements
Page 10
WOKINGHAM THEATRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
1. STATUTORY INFORMATION
Wokingham Theatre (Registered Company Number: 01933168) is an incorporated charity, limited by guarantee, registered in England and Wales. The company's registered office and principal place of business is Twyford Road, Wokingham, Berkshire, RG40 5TU.
The principal activity of the theatre is to promote the enjoymentof all aspects of theatre in the Wokingham area and to provide facilities and opportunities for its members to participate in such activities.
The presentation currency of the financial statements is the Pound Sterling (£).
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accountingand Reporting by Charities: Statement of RecommendedPractice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
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.
Income receivedin advance of a theatrical performance is deferred until the criteria for income recognition are met.
Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliable by the charity; this is normally upon notification of the interest paid or payable by the bank.
Government grants
Government grants are recognised in the income and expenditure account so as to match them with expenditure they are intended to contribute. To the extent that a grant is made as a contribution towards expenditure on a fixed asset, the grant is deferred and written off to match the amortisation charge of the fixed asset.
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 classified under the following activity headings:
continued...
Page 11
WOKINGHAM THEATRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2021
2. ACCOUNTING POLICIES - continued
Expenditure
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Costs of raising funds comprise the costs of charitable activities including the costs of performances, room hire, and other activities undertaken to further the purposes of the charity and their associated support costs.
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Other expenditure represents items not falling into any other heading.
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
Tangible fixed assets held for the charities own use are stated at cost less accumulated depreciation and accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives as below:
Short leasehold - 2% on cost Fixtures and fittings - 15% on cost Computer equipment - Straight line over 3 years
Taxation
The charity is exempt from corporation tax on its charitable activities.
Cash at bank and in hand
Cash at bank and cash in hand includescash and short term highly liquid investmentswith a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimatedreliably. Creditors and provisions are normally recognisedat their settlement amount after allowing for any trade discounts.
Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
continued...
Page 12
WOKINGHAM THEATRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2021
2. ACCOUNTING POLICIES - continued
Going concern
After having regard to the circumstances and measure set out in note 14 and 15, the trustees have a reasonable expectationthat the company has adequate resources to continue in operational existencefor the foreseeable future. The preparation of the financial statements on the going concern basis is therefore deemed appropriate.
3. DONATIONS AND LEGACIES
4.
| Sponsorship Donations Grants Grants received, included in the above, are as follows: Other grants OTHER TRADING ACTIVITIES Membership subscriptions Ticket sales - season Ticket sales - box office Programme sales Theatre hire charges Youth group income Raffle receipts Box office - refunds |
31.8.21 £ - 9,399 19,334 28,733 31.8.21 £ 19,334 31.8.21 £ 3,605 - 15,440 - 1,372 17,626 - (18,278) 19,765 |
31.8.20 £ 5,200 695 10,000 15,895 31.8.20 £ 10,000 31.8.20 £ 5,299 24,067 84,395 1,282 4,896 12,488 1,823 - 134,250 |
|---|---|---|
continued...
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WOKINGHAM THEATRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2021
5. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 31.8.21 | 31.8.20 | |
| £ | £ | |
| Deposit account interest | 321 | 896 |
| Deposit account interest | 321 896 |
|---|---|
| NET INCOME/(EXPENDITURE) | |
| Net income/(expenditure) is stated after charging/(crediting): | |
| Other non-audit services | 31.8.21 31.8.20 £ £ 1,320 2,412 |
| Depreciation - owned assets | 37,008 27,727 |
| Deficit on disposal of fixed assets | - 91 |
| Auditors' remuneration | 6,587 4,908 |
6. NET INCOME/(EXPENDITURE)
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2021 nor for the year ended 31 August 2020.
Trustees' expenses
During the year, total expensesof £19,463 (2020: £10,412) were paid to the trustees in respect of materials purchased in respect of theatrical productions. The number of trustees who received payments from the charity totalled 8 (2020: 9).
continued...
Page 14
WOKINGHAM THEATRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2021
8. TANGIBLE FIXED ASSETS
| Fixtures Short and leasehold fittings £ £ COST At 1 September 2020 372,558 321,764 Additions - 108,061 At 31 August 2021 372,558 429,825 DEPRECIATION At 1 September 2020 203,430 281,037 Charge for year 7,450 24,453 At 31 August 2021 210,880 305,490 NET BOOK VALUE At 31 August 2021 161,678 124,335 At 31 August 2020 169,128 40,727 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Wokingham Theatre Social Club Prepayments |
Computer equipment £ 30,465 2,497 32,962 26,799 5,105 31,904 1,058 3,666 31.8.21 £ 400 - 278,715 279,115 |
Totals £ 724,787 110,558 835,345 511,266 37,008 548,274 287,071 213,521 31.8.20 £ - 12,972 210,885 223,857 |
|---|---|---|
continued...
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WOKINGHAM THEATRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2021
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Accrued expenses Deferred season tickets Deferred box office MOVEMENT IN FUNDS At 1.9.20 £ Unrestricted funds General fund 805,181 Restricted funds Restricted fund 15,000 TOTAL FUNDS 820,181 Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS |
Net movement in funds £ (77,319) - (77,319) Incoming resources £ 49,259 49,259 |
31.8.21 31.8.20 £ £ 421 - 6,327 7,395 2,245 26,004 50,498 980 59,491 34,379 Transfers between At funds 31.8.21 £ £ 15,000 742,862 (15,000) - - 742,862 Resources Movement expended in funds £ £ (126,578) (77,319) (126,578) (77,319) |
|---|---|---|
11. MOVEMENT IN FUNDS
continued...
Page 16
WOKINGHAM THEATRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2021
11. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | ||||
|---|---|---|---|---|
| movement | At | |||
| At 1.9.19 in funds |
31.8.20 | |||
| £ £ |
£ | |||
| Unrestricted funds | ||||
| General fund | 783,635 21,546 |
805,181 | ||
| Restricted funds | ||||
| Restricted fund | 15,000 - |
15,000 | ||
| TOTAL FUNDS | 798,635 21,546 |
820,181 | ||
| Comparative net movement in funds, included in the above are as follows: | ||||
| Unrestricted funds | Incoming Resources resources expended £ £ |
Movement in funds £ |
||
| General fund | 151,041 (129,495) |
21,546 | ||
| TOTAL FUNDS | 151,041 (129,495) |
21,546 | ||
| A current year 12 months and prior year 12 months combined position is as follows: | ||||
| Unrestricted funds | At 1.9.19 £ |
Net Transfers movement between in funds funds £ £ |
At 31.8.21 £ |
|
| General fund | 783,635 | (55,773) 15,000 |
742,862 | |
| Restricted funds | ||||
| Restricted fund | 15,000 | - (15,000) |
- | |
| TOTAL FUNDS | 798,635 | (55,773) - |
742,862 | |
continued...
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WOKINGHAM THEATRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2021
11. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 200,300 200,300 |
Resources Movement expended in funds £ £ (256,073) (55,773) (256,073) (55,773) |
|---|---|---|
During the year £15,000 was transferred from restricted funds to unrestricted funds. This fund was donated by donor to enlarge and improve the Theatre facility. As objective has been met, trustees decided to transfer this fund from restricted to unrestricted.
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2021.
13. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES
In common with many other businesses of our size and nature we use our auditors to assist with the preparation of the financial statements.
14. POST BALANCE SHEET EVENTS
The Theatre has reopened with its first full production in September 2021 and is planning a full season.
15. GOING CONCERN AND THE COVID-19 PANDEMIC
The Theatre remains a going concern with sufficient reserves in hand to cope with another lockdown if necessary.
Page 18
WOKINGHAM THEATRE
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2021
| FOR THE YEAR ENDED | 31 AUGUST 2021 | |
|---|---|---|
| 31.8.21 | 31.8.20 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Sponsorship | - | 5,200 |
| Donations | 9,399 | 695 |
| Grants | 19,334 | 10,000 |
| Other trading activities | 28,733 | 15,895 |
| Membership subscriptions | 3,605 | 5,299 |
| Ticket sales - season | - | 24,067 |
| Ticket sales - box office | 15,440 | 84,395 |
| Programme sales | - | 1,282 |
| Theatre hire charges | 1,372 | 4,896 |
| Youth group income | 17,626 | 12,488 |
| Raffle receipts | - | 1,823 |
| Box office - refunds | (18,278) | - |
| Investment income | 19,765 | 134,250 |
| Deposit account interest | 321 | 896 |
| Other income | ||
| Miscellaneous income | 440 | - |
| Total incoming resources | 49,259 | 151,041 |
| EXPENDITURE | ||
| Other trading activities | ||
| Productions | 240 | 8,251 |
| Royalties & scripts | 1,085 | 7,345 |
| Room hire | 96 | 3,443 |
| Technical costs | 18,448 | 11,708 |
| Youth group expenditure | 15,239 | 13,374 |
| Carried forward | 35,108 | 44,121 |
This page does not form part of the statutory financial statements
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WOKINGHAM THEATRE
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2021
| 31.8.21 | 31.8.20 | |
|---|---|---|
| £ | £ | |
| Other trading activities | ||
| Brought forward | 35,108 | 44,121 |
| Raffle costs | - | 1,041 |
| Box office expenses | 3,099 | 1,882 |
| Workshops | - | 90 |
| Credit card charges | 936 | 1,870 |
| Loss on sale of tangible fixed assets | - | 91 |
| Support costs | 39,143 | 49,095 |
| Management | ||
| Rent, rates & water | 5,968 | 4,863 |
| Insurance | 3,676 | 6,011 |
| Light and heat | 9,881 | 10,264 |
| Telephone | 936 | 1,183 |
| Printing & stationery | 20 | 146 |
| Publicity | 4,406 | 3,280 |
| Sundries | 4,159 | 1,612 |
| Postage | 126 | 61 |
| Photocopying | 1,657 | 2,212 |
| Licences, fees etc | 772 | 180 |
| Maintenance & renewals | 4,284 | 11,091 |
| Cleaning of premises | 6,631 | 4,450 |
| Depreciation | 42,516 | 45,353 |
| Short leasehold | 7,451 | 7,451 |
| Fixtures and fittings | 24,455 | 13,929 |
| Computer equipment | 5,106 | 6,347 |
| Governance costs | 37,012 | 27,727 |
| Auditors' remuneration for non audit work | 1,320 | 2,412 |
| Auditors remuneration | 6,587 | 4,908 |
| 7,907 | 7,320 | |
| Total resources expended | 126,578 | 129,495 |
| Net (expenditure)/income | (77,319) | 21,546 |
This page does not form part of the statutory financial statements
Page 20