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 2024
FOR
WOKINGHAM THEATRE
WOKINGHAM THEATRE
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
| 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 17 |
| Detailed Statement of Financial Activities | 18 to 19 |
WOKINGHAM THEATRE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024
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 2024. 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 Significant activities
The principal activity of the Theatre is to promote the enjoyment of all aspects of theatre in the Wokingham area and to provide facilities and opportunities for its members to participate in such activities.
Volunteers
Theatre membership is 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 notification of 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 schedule of eight Productions in 2023-24.
In 2022-23 we sold on average, just over 88% of the tickets available. In 2023-24 we sold an average of 93% of tickets available - so again we are pleased to report a further increase in our audience numbers. It will be difficult to sustain the increase and so our forecast for 2024-25 assumes the same figure.
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 2024.
The Board is keen to make the Theatre's facilities available to the wider community when 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. This will be increased to 7 in 2024-25.
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 2024
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 will be revisited in 2024-25. Work has already commenced on seeking planning permission to make the Barn structure a permanent feature, and as part of this process we will be seeking permission for the rest of the building works (including the Studio).
The plan is to proceed in phases, and the Board will consider the financial implications before each phase is started. At this stage it is not planned to seek loans to cover the works; the aim would be to finance the works from our reserves over the coming years (but this is subject to further review by the Board).
We did see some cost increases due to ongoing inflationary issues, but less than forecast (as inflation rates decreased and some expected increases did not happen at all).
As expected, we did see the impact of significantly higher Electricity costs, but again this was allowed for in the forecast. A slight reduction in usage also helped to offset the increase.
The Electricity contract was for 12 months, and a new contract is in place from 1st October 2024, which will reduce costs. Gas prices have increased and so this will be an additional expense but is allowed for in the 24-25 forecast. Overall, energy costs taken together should be reduced in the coming year.
Ticket prices have remained the same for the 24-25 season.
With no large capital project due to start soon, we have not applied for grants, and so fundraising has been more limited again this year. The Building project is being reviewed and 24-25 will see some planning work - costs are included in the forecast. At this stage we can cover these costs from our reserves, and so we are not planning any specific fundraising activities at this stage.
We did receive a significant sum as a donation left as a legacy to theatre by one of our members; this is included in the overall Gift Aid & Donations we received which was £11,800 for 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 £919,279 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 challenging programme 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 controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
01933168 (England and Wales)
Page 2
WOKINGHAM THEATRE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024
Registered Charity number
292448
Registered office
Twyford Road Wokingham Berkshire RG40 5TU
Trustees
Ms S Daykin Mrs D Hogg Mr S E Joy Mr N Goodhand Mr A P Long Mrs C J Lawrence (appointed 14.5.24) Mr G Rees (appointed 14.5.24) Mrs S Vallely (appointed 14.5.24) Mr J C Gold Ms B Hampton Ms S Pierce Mr L White (resigned 14.5.24) Mr T Joy (resigned 14.5.24) Mr R Woods (resigned 14.5.24)
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
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 THEA TRE REPORT OF THE TRUSTEE,S FOR THE ENDED 31 AUGUST 2024 STAT'EMENT OTr TRUSTLL4 S, RESPONSIBILITIES - continued Company law requires the truslees io prepe financial stacem#nts for cach financial year which give a true and fair view of the state of affairs of thc charitablc company and of the incoming resources and application of resources. including the income and expenditure, of the charitable company for that period. In PrePing those fiJ)ancial statements, the trustees are required to sclc¢t suitable accounting policies and then apply them consistently,. observe the methods and priucipleq in the Charity .8ORP. make judgements aDd estiJnatcs that arc rcasonablc prudent. prepe the fancIal staten]ents on tbe going concern basis urijess it is inappropriate to presume that thc charit&ble company will conlinue in business. The trustees are rcspollsible for kecping proper accounting records which disclose with reasonable ac¢ura¢y al any lime the financial position of the charitable company and io enablc thcm to ensure th<lt the financia] statements comply with thc CompaFLtcs Act 2006. They also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevenlion and detection of fraud and other irregularities. In so far as the trustees ate aware.. there 1.8 ncj relevani audit infoTmation of which thc chtable company's auditors aTe unaware. and the trustees have taken all steps that they ought to bave taken to make themselves aware of gny relevant audit inforniation and to establiqh that the auditorg are aware of that inforniation. Thiq report h&s been prepared in accordance with the special provisions of Part 15 of tbe Companies Act 2006 relating to small compdnies. Approved by order of the board of trustees on .............. Zo*and signed on its behalf by.. Ms S De Quidt- Serretary Pagc 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 2024 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 2024 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 conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for 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 15 to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we 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.
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 connection with our audit of the financial statements, our responsibility is 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.
Page 5
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WOKINGHAM THEATRE
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
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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 following matters 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 determine is 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 objectives are 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 conducted in accordance with ISAs (UK) will always detect a material misstatement when 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 identifying and 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;
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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, including the 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 compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
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identified laws 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 susceptibility of 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 considered there 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 determining the 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.
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-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
Page 7
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WOKINGHAM THEATRE
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 description forms 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: ............................................. 19 December 2024
Page 8
WOKINGHAM THEATRE
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024
| 31.8.24 Unrestricted Restricted Total fund fund funds Notes £ £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 3 11,520 - 11,520 Other trading activities 4 250,258 - 250,258 Investment income 5 6,819 - 6,819 Other income 1,675 - 1,675 Total 270,272 - 270,272 EXPENDITURE ON Raising funds 60,638 - 60,638 Other 124,882 - 124,882 Total 185,520 - 185,520 NET INCOME 84,752 - 84,752 RECONCILIATION OF FUNDS Total funds brought forward 834,527 - 834,527 TOTAL FUNDS CARRIED FORWARD 919,279 - 919,279 |
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 |
The notes form part of these financial statements
Page 9
WOKINGIL4M THEATRE BAI,ANCE SHEET 31 AUGUST 2024 31.824 Total funds 31.8.23 Total funds Unrestricted R¢stricted fund fund Nutes. FIXED ASSFTS T7mgible assets Investmenrs 513,423 80,000 513,423 80,000 548.900 80,000 593,423 593,423 628.900 CURRENT ASSEIS Debts)rs tnvesttnents Cash at bank io li 47,216 16¥5,320 180,254 47,216 168,320 180,254 39,514 86,626 149,IIH 395,790 395,790 275.244 CREDTTORS Amounts falling due within one ye 12 (69,934) (69,934) (69,617) NET CURRENT ASSLTS 325,856 325,856 205,627 TOTAL AS.SETS LFSS CURRENT LIABILITJES 919,279 919,279 834,527 NE'f ASSETS 919,279 919,279 834,527 FUNDS Unres[ricl funds.. General fund 13 919,279 834,527 TOTAL FUNDS 919,279 834.527 These financial statcmcnts have been prepared in accordance with the provisions applicable to charitable coMpe5 subject to the small companies regime. The financial .qt2tements were approved by the Board of Trustees and authori8ed for issuc OD - and were signed on its behalf by.. Mr S E Joy - Trustcc The notes form part of these financial statements Page 10
WOKINGHAM THEATRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
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 enjoyment of 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) '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 Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
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 received in 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.
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.
continued...
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WOKINGHAM THEATRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024
2. ACCOUNTING POLICIES - continued
Expenditure
- 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% and 4% 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 includes cash and short term highly liquid investments with 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 estimated reliably. Creditors and provisions are normally recognised at 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.
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.
continued...
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WOKINGHAM THEATRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024
| 3. DONATIONS AND LEGACIES Donations 4. OTHER TRADING ACTIVITIES Membership subscriptions Ticket sales - box office Programme sales Theatre hire charges Youth group income Raffle receipts 5. INVESTMENT INCOME Deposit account interest 6. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets Auditors' remuneration |
31.8.24 £ 11,520 31.8.24 £ 5,325 188,192 3,451 28,943 20,052 4,295 250,258 31.8.24 £ 6,819 31.8.24 £ 47,072 5,244 |
31.8.23 £ 888 31.8.23 £ 4,860 162,842 3,238 23,166 19,745 3,962 |
31.8.23 £ 888 |
|---|---|---|---|
| 217,813 | |||
| 31.8.23 £ 2,297 31.8.23 £ 45,287 5,040 |
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2024 nor for the year ended 31 August 2023.
continued...
Page 13
WOKINGHAM THEATRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024
7. TRUSTEES' REMUNERATION AND BENEFITS - continued
Trustees' expenses
During the year, total expenses of £15,170 (2023: £11,273) were paid to the trustees in respect of materials purchased for theatrical productions. The number of trustees who received payments from the charity totalled 8 (2023: 7).
A further £5,212 (2023: £4,639) was paid to D Hogg in respect of Chaperone services for the Youth Theatre
8. TANGIBLE FIXED ASSETS
| COST At 1 September 2023 Additions Disposals At 31 August 2024 DEPRECIATION At 1 September 2023 Charge for year Eliminated on disposal At 31 August 2024 NET BOOK VALUE At 31 August 2024 At 31 August 2023 |
Assets Short under leasehold construction £ £ 552,394 137,526 - - - - 552,394 137,526 240,169 - 14,644 - - - 254,813 - 297,581 137,526 312,225 137,526 |
Fixtures and fittings £ 452,179 11,345 - 463,524 358,836 28,292 - 387,128 76,396 93,343 |
Computer equipment Totals £ £ 39,605 1,181,704 250 11,595 (5,087) (5,087) 34,768 1,188,212 33,799 632,804 4,136 47,072 (5,087) (5,087) 32,848 674,789 1,920 513,423 5,806 548,900 |
|---|---|---|---|
Items recorded as 'Assets under Construction' comprise development costs incurred as preparation for a planned extension to the Theatre.
continued...
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WOKINGHAM THEATRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024
9. FIXED ASSET INVESTMENTS
| 9. FIXED ASSET INVESTMENTS |
||
|---|---|---|
| MARKET VALUE At 1 September 2023 and 31 August 2024 NET BOOK VALUE At 31 August 2024 At 31 August 2023 There were no investment assets outside the UK. 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Prepayments 11. CURRENT ASSET INVESTMENTS Short Term Cash Deposits 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Other creditors Accrued expenses Deferred income Deferred box office |
31.8.24 £ 23,761 23,455 47,216 31.8.24 £ 168,320 31.8.24 £ 4,529 4,654 7,285 - 53,466 69,934 |
Long term cash bond £ 80,000 80,000 80,000 31.8.23 £ 17,886 21,628 39,514 31.8.23 £ 86,626 31.8.23 £ 1,408 3,888 5,040 1,000 58,281 69,617 |
Page 15
continued...
WOKINGHAM THEATRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024
13. MOVEMENT IN FUNDS
| At 1.9.23 £ Unrestricted funds General fund 834,527 TOTAL FUNDS 834,527 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 270,272 TOTAL FUNDS 270,272 Comparatives for movement in funds At 1.9.22 £ Unrestricted funds General fund 773,367 TOTAL FUNDS 773,367 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 223,368 TOTAL FUNDS 223,368 |
Net movement At in funds 31.8.24 £ £ 84,752 919,279 84,752 919,279 Resources Movement expended in funds £ £ (185,520) 84,752 (185,520) 84,752 Net movement At in funds 31.8.23 £ £ 61,160 834,527 61,160 834,527 Resources Movement expended in funds £ £ (162,208) 61,160 (162,208) 61,160 |
|---|---|
Page 16
continued...
WOKINGHAM THEATRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024
13. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.9.22 £ 773,367 773,367 |
Net movement in funds £ 145,912 145,912 |
At 31.8.24 £ 919,279 |
|---|---|---|---|
| 919,279 |
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 £ 493,640 493,640 |
Resources Movement expended in funds £ £ (347,728) 145,912 (347,728) 145,912 |
|---|---|---|
14. RELATED PARTY DISCLOSURES
A total of £5,635 (2023: £3,187) was earned from ticket sales in a production company which has one of the trustees as a director.
15. 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.
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WOKINGHAM THEATRE
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024
| 31.8.24 | 31.8.23 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 11,520 | 888 |
| Other trading activities | ||
| Membership subscriptions | 5,325 | 4,860 |
| Ticket sales - box office | 188,192 | 162,842 |
| Programme sales | 3,451 | 3,238 |
| Theatre hire charges | 28,943 | 23,166 |
| Youth group income | 20,052 | 19,745 |
| Raffle receipts | 4,295 | 3,962 |
| 250,258 | 217,813 | |
| Investment income | ||
| Deposit account interest | 6,819 | 2,297 |
| Other income | ||
| Miscellaneous income | 1,675 | 2,370 |
| Total incoming resources | 270,272 | 223,368 |
| EXPENDITURE | ||
| Other trading activities | ||
| Productions | 9,650 | 12,525 |
| Royalties & scripts | 11,883 | 12,399 |
| Room hire | 1,773 | 2,191 |
| Technical costs | 8,356 | 10,808 |
| Youth group expenditure | 17,919 | 16,160 |
| Box office expenses | 9,316 | 8,657 |
| Credit card charges | 1,741 | 1,906 |
| 60,638 | 64,646 | |
| Support costs | ||
| Management | ||
| Rent, rates & water | 4,353 | 4,929 |
| Insurance | 4,865 | 4,305 |
| Light and heat | 34,939 | 14,752 |
| Telephone | 1,062 | 1,305 |
| Carried forward | 45,219 | 25,291 |
This page does not form part of the statutory financial statements
Page 18
WOKINGHAM THEATRE
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024
| 31.8.24 | 31.8.23 | |
|---|---|---|
| £ | £ | |
| Management | ||
| Brought forward | 45,219 | 25,291 |
| Printing & stationery | 164 | 216 |
| Publicity | 5,259 | 5,051 |
| Sundries | 3,379 | 3,522 |
| Postage | 50 | 258 |
| Photocopying | 755 | 685 |
| Licences, fees etc | 540 | 861 |
| Maintenance & renewals | 6,374 | 4,528 |
| Cleaning of premises | 6,628 | 6,502 |
| 68,368 | 46,914 | |
| Depreciation | ||
| Short leasehold | 14,644 | 14,644 |
| Fixtures and fittings | 28,292 | 26,590 |
| Computer equipment | 4,136 | 4,053 |
| 47,072 | 45,287 | |
| Governance costs | ||
| Legal & professional fees | 4,198 | 321 |
| Auditors remuneration | 5,244 | 5,040 |
| 9,442 | 5,361 | |
| Total resources expended | 185,520 | 162,208 |
| Net income | 84,752 | 61,160 |
This page does not form part of the statutory financial statements
Page 19