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 2023
FOR
WOKINGHAM THEATRE
WOKINGHAM THEATRE
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
| 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 2023
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 2023. 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 the activities associated with staging performances, maintaining the building and equipment, administering the Theatre, and running the Youth Theatre. 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
We were able to provide a full scheduleof eight Productions in 2022-23. Pre-Covid we sold, on average, well over 97% of the tickets available - effectivelyplaying to full houses - although for the most part this was based on our old theatre capacity of 144 seats (so we sold around 140 seats on average). In 2023 we sold an average of 89% of the new capacity of 163 seats - so around 145 seats per performance.
We do feel that we have seen our audience numbers return and in fact increase a little. The pleasing thing is that we have been able to draw in new audiences with a mixture of different Productions (hopefully 'something for everyone').
The Youth Theatre was able to offer a full schedule of in-theatre classes in all three terms and held a showcase in the summer term. In addition, the Youth Theatre had their own Production held over 3 days (4 shows) in February 2023.
The Board is keen to make the Theatre's facilities available to the wider communitywhen it is not required for our own activities. A wide range of Community or commercial groups use the theatre space, and we support this with volunteer staff where needed. We were able to provide 5 full performances for a wide range of local charities to use as part of their fund-raising activities.
WT has used professional 'fight training and intimacy co-ordinator' services for Productions where the Production has required it. We will continue to look to offer further training opportunities to members where budget allows and there is an identified need.
Page 1
WOKINGHAM THEATRE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023
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 buildinga Studio are still currently on hold as we seek to consolidateour reserves. Over the next 12 months the Board will consider planning implications linked to the temporary 'Barn' structure, and once this is complete, we will re-visit the Studio plan - although this may not be until 2024-25 financial year.
We did see some cost increases due to ongoing inflationary issues, but these increases were allowed for in our budget forecast and in fact we were able to come in below forecast. In 2023-24 we will see the impact of higher electricity costs which will be a significant increase, but again this is allowed for in the forecast. Ticket prices have been increased by £1 to cover part of this increase.
With no large capital project due to start soon, then we have not applied for grants, and so fundraising has been more limitedagain this year. Previous years includedbusiness grants linkedto loss of incomedue to Covid, and so without those this year, the Theatre has received Gift Aid & Donations to the value of £1,318 during the year.
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.
At the end of the financial year the Theatre had reserves of £834,527 and remains a going concern.
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
Page 2
WOKINGHAM THEATRE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023
Registered office
Twyford Road Wokingham Berkshire RG40 5TU
Trustees
Ms S Daykin Mrs D Hogg Ms R J Tizzard (resigned 16.5.23) Mr J C Radburn (resigned 16.5.23) Mr S Joy Mr L White Mr N Goodhand Mr A P Long Mr T Joy Mr A M P Tang (resigned 16.9.22) Ms B Hampton (appointed 15.11.22) Mr J C Gold (appointed 15.11.22) Ms S Pierce (appointed 16.5.23) Mr R Woods (appointed 16.5.23)
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
THE COVID-19 PANDEMIC
As audience members have increased back to pre-Covid levels, and we have not seen any performances affected by Covid, there is nothing to report under this heading.
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".
Page 3
WOKINGHAM THEATRE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023 STATEMENT OF TRUSTEES, RESPONsIBILtEs - continued Company law, requires the trustees to prepare tinancial statements f(Trr each financial year which give a Irue and fair view of the state of affairs of the charitable company and of the incoming resources and appli¢ation of resources, including ihe income and expendiiure, of the charithble wmpany for that period. In preparing ihose rinancial slalemcnt5, the trustees are r¢quired to select suitable accounting liCI¢S and then apply them consistently- observe the methods and principles in the Charity SORP- make judgements and estimates that are reasonable and prudent- prepare the financial statemen15 on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keepingproper accounting records which disclosewith reasonable a¢¢ur8cy at any time Ihe financial posiiion of the charitable company and io enable them to ensur¢ ihat the financial statements comply with the Companies Aci 2006. They are also r¢sFrf)nsible for safeguarding the a55ets of the charitable company and hen¢¢ for taking reasonable steps for Ihe prevention and detection of fr8Ltd and other irregularities. In so far as the Iruslee5 are awBre= there is no relevant audit infomation of which ihe charitable company's auditors are unaware. and Ihe Iruslees have taken all steps that they ought to have laken lo make Ihemselvesawa of any relevant audit information and to establish that the auditors are aware of ihal inforniation. This report has been prepared in a¢¢ordan¢¢ wilh lh¢ special provisions of Part 15 of the Companie5 Act 2006 relaiing to sm811 companies. Approved by order of the board of treeS on .I.q......t.2Q1 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 2023 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:
-
give a true and fair view of the state of the charitable company's affairs as at 31 August 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
-
- 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
-
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 14 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:
-
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
-
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:
-
adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
-
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.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
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:
-
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.
Lee Gardner 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
Date: .............................................
Page 8
WOKINGHAM THEATRE
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2023
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 3 888 Other trading activities 4 217,813 Investment income 5 2,297 Other income 2,370 Total 223,368 EXPENDITURE ON Raising funds 64,646 Other 97,562 Total 162,208 NET INCOME 61,160 RECONCILIATION OF FUNDS Total funds brought forward 773,367 TOTAL FUNDS CARRIED FORWARD 834,527 |
Restricted fund £ - - - - - - - - - - - |
31.8.23 Total funds £ 888 217,813 2,297 2,370 223,368 64,646 97,562 162,208 61,160 773,367 834,527 |
31.8.22 Total funds £ 7,279 182,910 310 2,100 192,599 55,216 106,878 162,094 30,505 742,862 773,367 |
|---|---|---|---|
The notes form part of these financial statements
Page 9
WOKINGHAM THEATRE BALANCE SHEET 31 AUC.UST 2023 31.8.23 Totgl funds 31.8.22 Total funds Unrestricted fund Restricted fund Notes FIXED ASSETS I dn&Fible a88ets 411J74 411J74 447.318 C.IIRRF.NT ASSETS Dcbtors Investments Cash al bank 177.040 166.626 149,104 177,040 166,626 149.104 173.477 10 215,908 492,770 492,770 389.385 C.RF.J)ITORS Amounts talling due within on¢ year (69,617) (69,617) (63.336) NET CURRENT ASSETS 423,153 423.153 326.049 T()TAL A%SF.TS LF.SS CURRF.NT LIABILITJF.S 834J27 834,527 773.367 NET ASSETS 834.527 773.367 FUNDS Unrestricted funds.. General fund 12 773.367 TOTAL FUNDS 834,527 773.367 These financial ststements have been prepared in J¢¢ord8nce with the provisions applicable lo charitable companies subject to the Small companies regime. The financial statements w¢r¢ approved by the Board of Trustees and authorised for issue on ..1.0fjK¥**w&...lts and were signed on its behalf by: Mr S Joy- Trustee The notes forni part of these financial ststements Page 10
WOKINGHAM THEATRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
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.
Theatre show tickets
Sales of tickets for the performances put on by the theatre are recognised on the SOFA when the performances have been completed.Prior to the performances, the revenue generated by the sale of tickets are accounted for as deferred income.
Membership donations
Membership donations are recognised when the donations have been received by the theatre.
Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably 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.
continued...
Page 11
WOKINGHAM THEATRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023
2. ACCOUNTING POLICIES - continued
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:
-
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.
-
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 Fixtures and fittings |
- 2% on cost - 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 2023
2. ACCOUNTING POLICIES - continued
Going concern
Based upon a review of recent trading results, coupled with forecasts prepared on behalf of the Board, the trustees have an expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The preparation of the financial statements on the going concern basis is therefore deemed appropriate.
3. DONATIONS AND LEGACIES
| Sponsorship Donations Grants Grants received, included in the above, are as follows: Other grants 4. OTHER TRADING ACTIVITIES Membership subscriptions Ticket sales - box office Programme sales Theatre hire charges Youth group income Raffle receipts |
31.8.23 £ - 888 - 888 31.8.23 £ - 31.8.23 £ 4,860 162,842 3,238 23,166 19,745 3,962 217,813 |
31.8.22 £ 2,350 2,262 2,667 7,279 31.8.22 £ 2,667 31.8.22 £ 4,750 135,512 2,183 18,606 18,516 3,343 182,910 |
|---|---|---|
continued...
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WOKINGHAM THEATRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023
5. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 31.8.23 | 31.8.22 | |
| £ | £ | |
| Deposit account interest | 2,297 | 310 |
| Deposit account interest | 2,297 310 |
|---|---|
| NET INCOME/(EXPENDITURE) | |
| Net income/(expenditure) is stated after charging/(crediting): | |
| Depreciation - owned assets | 31.8.23 31.8.22 £ £ 45,287 42,264 |
| Auditors' remuneration | 5,040 4,602 |
6. NET INCOME/(EXPENDITURE)
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022.
Trustees' expenses
During the year, total expensesof £15,912 (2022: £23,993) 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 7 (2022: 8).
continued...
Page 14
WOKINGHAM THEATRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023
8. TANGIBLE FIXED ASSETS
| Fixtures Short and leasehold fittings £ £ COST At 1 September 2022 552,394 450,585 Additions - 1,594 Disposals - - At 31 August 2023 552,394 452,179 DEPRECIATION At 1 September 2022 225,524 332,246 Charge for year 14,645 26,590 Eliminated on disposal - - At 31 August 2023 240,169 358,836 NET BOOK VALUE At 31 August 2023 312,225 93,343 At 31 August 2022 326,870 118,339 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Prepayments |
Computer equipment Totals £ £ 34,877 1,037,856 7,749 9,343 (3,021) (3,021) 39,605 1,044,178 32,768 590,538 4,052 45,287 (3,021) (3,021) 33,799 632,804 5,806 411,374 2,109 447,318 31.8.23 31.8.22 £ £ 17,886 15,041 159,154 158,436 177,040 173,477 |
|---|---|
continued...
Page 15
WOKINGHAM THEATRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023
10. CURRENT ASSET INVESTMENTS
| Other Investments represent short term cash deposits in fixed rate bonds. 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Other creditors Accrued expenses Deferred income Deferred box office 12. MOVEMENT IN FUNDS At 1.9.22 £ Unrestricted funds General fund 773,367 TOTAL FUNDS 773,367 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 223,368 TOTAL FUNDS 223,368 |
31.8.23 £ 166,626 31.8.23 £ 1,408 3,888 5,040 1,000 58,281 69,617 Net movement in funds £ 61,160 61,160 Resources expended £ (162,208) (162,208) |
31.8.22 £ - 31.8.22 £ 1,455 - 7,263 28 54,590 63,336 At 31.8.23 £ 834,527 834,527 Movement in funds £ 61,160 61,160 |
|
|---|---|---|---|
continued...
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WOKINGHAM THEATRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023
12. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Comparatives for movement in funds | |||
|---|---|---|---|
| Net | |||
| movement | At | ||
| At 1.9.21 | in funds | 31.8.22 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 742,862 | 30,505 | 773,367 |
| TOTAL FUNDS | 742,862 | 30,505 | 773,367 |
| Comparative net movement in funds, included in the above are as follows: | |||
| Unrestricted funds | Incoming resources £ |
Resources expended £ |
Movement in funds £ |
| General fund | 192,599 | (162,094) | 30,505 |
| TOTAL FUNDS | 192,599 | (162,094) | 30,505 |
| A current year 12 months and prior year 12 months combined position is as | follows: | ||
| Unrestricted funds | At 1.9.21 £ |
Net movement in funds £ |
At 31.8.23 £ |
| General fund | 742,862 | 91,665 | 834,527 |
| TOTAL FUNDS | 742,862 | 91,665 | 834,527 |
continued...
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WOKINGHAM THEATRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023
12. 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 £ 415,967 415,967 |
Resources Movement expended in funds £ £ (324,302) 91,665 (324,302) 91,665 |
|---|---|---|
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2023.
14. 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.
Page 18
WOKINGHAM THEATRE
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2023
| FOR THE YEAR ENDED | 31 AUGUST 2023 | |
|---|---|---|
| 31.8.23 | 31.8.22 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Sponsorship | - | 2,350 |
| Donations | 888 | 2,262 |
| Grants | - | 2,667 |
| Other trading activities | 888 | 7,279 |
| Membership subscriptions | 4,860 | 4,750 |
| Ticket sales - box office | 162,842 | 135,512 |
| Programme sales | 3,238 | 2,183 |
| Theatre hire charges | 23,166 | 18,606 |
| Youth group income | 19,745 | 18,516 |
| Raffle receipts | 3,962 | 3,343 |
| Investment income | 217,813 | 182,910 |
| Deposit account interest | 2,297 | 310 |
| Other income | ||
| Miscellaneous income | 2,370 | 2,100 |
| Total incoming resources | 223,368 | 192,599 |
| EXPENDITURE | ||
| Other trading activities | ||
| Productions | 12,525 | 8,730 |
| Royalties & scripts | 12,399 | 7,855 |
| Room hire | 2,191 | 1,611 |
| Technical costs | 10,808 | 9,359 |
| Youth group expenditure | 16,160 | 18,143 |
| Box office expenses | 8,657 | 7,890 |
| Credit card charges | 1,906 | 1,628 |
| 64,646 | 55,216 |
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 2023
| 31.8.23 | 31.8.22 | |
|---|---|---|
| £ | £ | |
| Support costs | ||
| Management | ||
| Rent, rates & water | 4,929 | 7,294 |
| Insurance | 4,305 | 3,828 |
| Light and heat | 14,752 | 16,840 |
| Telephone | 1,305 | 1,262 |
| Printing & stationery | 216 | 174 |
| Publicity | 5,051 | 5,370 |
| Sundries | 3,522 | 9,972 |
| Postage | 258 | 80 |
| Photocopying | 685 | 672 |
| Licences, fees etc | 861 | 706 |
| Maintenance & renewals | 4,528 | 7,226 |
| Cleaning of premises | 6,502 | 6,588 |
| Depreciation | 46,914 | 60,012 |
| Short leasehold | 14,644 | 14,644 |
| Fixtures and fittings | 26,590 | 26,756 |
| Computer equipment | 4,053 | 864 |
| Governance costs | 45,287 | 42,264 |
| Legal & professional fees | 321 | - |
| Auditors remuneration | 5,040 | 4,602 |
| 5,361 | 4,602 | |
| Total resources expended | 162,208 | 162,094 |
| Net income | 61,160 | 30,505 |
This page does not form part of the statutory financial statements
Page 20