Charity Number : 292763
THE SWAN THEATRE COMPANY
ACCOUNTS FOR THE YEAR ENDED 29 FEBRUARY 2024
THE SWAN THEATRE COMPANY
CHARITY NUMBER : 292763
ACCOUNTS FOR THE YEAR ENDED 29 FEBRUARY 2024
CONTENTS
| Page | |
|---|---|
| REPORT OF THE COMMITTEE | 1 – 2 |
| INDEPENDENT EXAMINER’S REPORT | |
| TO THE MEMBERS OF THE SOCIETY | 3 |
| STATEMENT OF FINANCIAL ACTIVITIES | 4 |
| BALANCE SHEET | 5 |
| NOTES TO THE FINANCIAL STATEMENTS | 6 – 8 |
THE SWAN THEATRE COMPANY
CHARITY NUMBER : 292763
REPORT OF THE COMMITTEE
FOR THE YEAR ENDED 29 FEBRUARY 2024
The Committee present their report and the independently examined accounts of the society for the year ended 29 February 2024.
Legal information
The Swan Theatre Company was formed in 1991 from the Yeovil Dramatic Society and was registered as a registered charity in 1985 (number 292763).
Other information and advisers
| Other information and advisers | |
|---|---|
| Principal Office | The Swan Theatre Company |
| Park Street | |
| YEOVIL | |
| Somerset BA20 1QT | |
| Solicitors | Clarke Willmott |
| Blackbrook Gate | |
| Blackbrook Park Avenue | |
| TAUNTON | |
| Somerset TA1 2PG | |
| Accountants | Read & Co. |
| Chartered Accountants | |
| 1 Park Gardens | |
| YEOVIL | |
| Somerset | |
| BA20 1DW | |
| Bankers | Lloyds TSB |
| 9 High Street | |
| YEOVIL | |
| Somerset BA20 1RN |
Review of activities
The objectives of the company are to educate the public in the dramatic arts and further the development of public appreciation and taste in the said arts in Yeovil and District. In particular, by providing and maintaining the theatre known as the Swan Theatre and to further such charitable causes that the committee shall from time to time decide.
A full programme of productions in the year included The Hollow, Stepping On My Shadow, Crown Matrimonial, Swan Music Festival, A Brief History Of Women, Amadeus and Things I Know To Be True.
Committee
The committee of the society who have served during the year are detailed below:
Mark Payne (Chairman) James Kneller (Facilities Manager) Robert Graydon (Artistic Manager) Andrew Middleton (Treasurer) Adrian Harding (Marketing Manager) Annetta Broughton Graham House (Secretary) Ann Lee Brian Williams
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THE SWAN THEATRE COMPANY
CHARITY NUMBER : 292763
REPORT OF THE COMMITTEE (continued)
FOR THE YEAR ENDED 29 FEBRUARY 2024
Reserves policy
It is the policy of the charity to maintain unrestricted funds not committed or invested in tangible fixed assets (the ‘free reserves’), at a level, which equates to approximately 6 months unrestricted expenditure. This provides sufficient funds to cover management and administration and support costs and to respond to unexpected demands on funds.
Independent examiners
A resolution to reappoint Read & Co. as independent examiners will be proposed at the annual general meeting.
On behalf of the committee
M Payne Chairman
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THE SWAN THEATRE COMPANY
CHARITY NUMBER : 292763
INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS OF
THE SWAN THEATRE COMPANY
FOR THE YEAR ENDED 29 FEBRUARY 2024
I report on the accounts of the society for the year ended 29 February 2024, which are set out on pages 4 to 8.
Respective responsibilities of trustees and examiner
As the charity’s trustees you are responsible for the preparation of the financial statement; you consider that the audit requirement of section 43(2) of the Charities Act (the Act) does not apply. It is my responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under section 43(7)(b) of the Act, where particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees consequently I do not express an audit opinion on the view given by the accounts.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
-
which gives me reasonable cause to believe that in any material aspect of the requirements:
-
to keep accounting records in accordance with section 41 of the Act; and
-
to prepare accounts which accord with the accounting records and to comply with accounting requirements of the Act
have not been met, or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Teresa Rodber FCCA Read & Co. Chartered Accountants 1 Park Gardens YEOVIL Somerset BA20 1DW
Date : ………………..
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THE SWAN THEATRE COMPANY
CHARITY NUMBER : 292763
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 29 FEBRUARY 2024
| General | Restricted | Total | ||
|---|---|---|---|---|
| Fund | Fund | 2024 | 2023 | |
| (Capital) | ||||
| £ | £ | £ | £ | |
| Incoming resources | ||||
| Donations | 175 | - | 175 | 2416 |
| Activities in furtherance of the charity’s | ||||
| objectives: | ||||
| Government grants received | - | - | 1250 | |
| Productions | 57131 | - | 57131 | 38941 |
| Activities for generating funds: | ||||
| Operations | 5627 | - | 5627 | 5180 |
| Other Income | 1697 | - | 1697 | 2696 |
| Fundraising | 2102 | - | 2102 | 2002 |
| Bar sales | 17243 | - | 17243 | 10968 |
| Administrative and income tax received | 4707 | - | 4707 | 4756 |
| 88682 | - | 88682 | 68209 | |
| Total incoming resources | ||||
| Resources expended | ||||
| Cost of generating funds: | ||||
| Operations | 13333 | - | 13333 | 18252 |
| Bar expenditure | 6813 | - | 6813 | 4063 |
| Charitable expenditure: | ||||
| Productions | 33525 | - | 33525 | 18531 |
| Other administration: | ||||
| Administration | 7141 | - | 7141 | 4200 |
| Services | 11841 | - | 11841 | 9418 |
| Depreciation | 5790 | - | 5790 | 5790 |
| Total resources expended | 78443 | - | 78443 | 60254 |
| Net movements in funds | 10239 | - | 10239 | 7955 |
| Fund balances brought forward | ||||
| at 1 March 2023 | 104704 | - | 104704 | 96749 |
| Fund balances carried forward | ||||
| at 29 February 2024 | 114943 | - | 114943 | 104704 |
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THE SWAN THEATRE COMPANY
CHARITY NUMBER : 292763
BALANCE SHEET
FOR THE YEAR ENDED 29 FEBRUARY 2024
| Notes Fixed assets 4 Freehold property Improvements to property Equipment Current assets Debtors 5 Prepayments Cash at bank and in hand Creditors: amounts falling due within one year 6 Net current assets Total assets less current liabilities Represented by: Capital and reserves Capital fund 8 Revaluation reserve General fund 7 |
£ 800 4551 75542 80893 6657 |
2024 £ 120000 38805 - 158805 74236 233041 - 118098 114943 233041 |
£ - 3760 62900 66660 8453 |
2023 £ 120000 44595 - 164595 58207 222802 - 118098 104704 222802 |
||
|---|---|---|---|---|---|---|
Approved by the committee on ………………………
Chairman: M Payne
Treasurer: A Middleton
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THE SWAN THEATRE COMPANY
CHARITY NUMBER : 292763
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
1. Accounting policies
The accounts have been prepared in accordance with generally accepted accounting standard in the United Kingdom and the Statement of Recommended Practice – Accounting by Charities. A summary of the accounting policies adopted, which have been applied consistently, is set out below.
a) Accounting convention
The accounts have been prepared under the historical convention.
b) Donations and legacies
Donations, legacies and other income are accounted for in the period in which they are received. No gifts in kind were received during the year.
c) Fixed assets
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Freehold property - no depreciation as property is revalued on a regular basis Improvements to property - 10 years straight line (amended 2016) Equipment - 10 years straight line
2. Related party transactions
During the year the Board of Trustees received no remuneration.
3. Operating surplus/(deficit)
| 3. Operating surplus/(deficit) Operating (deficit)/surplus is stated after charging: Independent examiners remuneration Depreciation |
2024 £ - 5790 |
2023 £ - 5790 |
|---|---|---|
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THE SWAN THEATRE COMPANY
CHARITY NUMBER : 292763
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 29 FEBRUARY 2024
| 4. Tangible fixed assets |
||||
|---|---|---|---|---|
| Freehold | Property | Equipment | Total | |
| property | improvements | |||
| £ | £ | £ | £ | |
| Cost | ||||
| Balance brought forward | ||||
| at 1 March 2023 | 124448 | 305695 | 32730 | 462873 |
| Additions | - | - | - | - |
| Balance carried forward | ||||
| at 29 February 2024 | 124448 | 305695 | 32730 | 462873 |
| Depreciation | ||||
| Balance brought forward | ||||
| at 1 March 2023 | 4448 | 261100 | 32730 | 298278 |
| Charge for year | - | 5790 | - | 5790 |
| Balance carried forward | ||||
| at 29 February 2024 | 4448 | 266890 | 32730 | 304068 |
| Net book value | ||||
| Brought forward | 120000 | 44595 | - | 164595 |
| Carried forward | 120000 | 38805 | - | 158805 |
| 5. Debtors |
2024 | 2023 | ||
| £ | £ | |||
| Debtors | 800 | - | ||
| Prepayments | 4551 | 3760 | ||
| 5351 | 3760 | |||
| The above debtors without exception fall due | within one year. | |||
| 6. Creditors: amounts falling due within one year |
2024 | 2023 | ||
| £ | £ | |||
| Creditors | - | - | ||
| Deferred income | 4638 | 5762 | ||
| Accruals | 2019 | 2691 | ||
| 6657 | 8453 |
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THE SWAN THEATRE COMPANY
CHARITY NUMBER : 292763
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 29 FEBRUARY 2024
7.
| 7. General fund |
||
|---|---|---|
| General | Total | |
| Fund | ||
| £ | £ | |
| At 1 March 2023 | 104704 | 96749 |
| Transfer from Restricted Fund | - | - |
| Net movement for year | 10239 | 7955 |
| At 29 February 2024 | 114943 | 104704 |
| Represented by: | ||
| Fixed assets | 40707 | 46497 |
| Net current assets | 74236 | 58207 |
| 114943 | 104704 | |
| 8. Revaluation reserve |
Revaluation | Total |
| Reserve | ||
| £ | £ | |
| At 1 March 2023 | 118098 | 118098 |
| Transfer to General Fund | - | - |
| At 28 February 2024 | 118098 | 118098 |
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