Charity Number : 292763
THE SWAN THEATRE COMPANY
ACCOUNTS FOR THE YEAR ENDED 28 FEBRUARY 2026
THE SWAN THEATRE COMPANY
CHARITY NUMBER : 292763
ACCOUNTS FOR THE YEAR ENDED 28 FEBRUARY 2026
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 28 FEBRUARY 2026
The Committee present their report and the independently examined accounts of the society for the year ended 28 February 2026.
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 major renovation of the public areas of the Theatre was undertaken in Autumn 2025. The costs for the renovation clearly had a major impact on the accounts for the year, but this was felt by the Committee to be a worthwhile investment for the Swan Theatre’s future. Despite the resulting three month closure, we were able to present four productions: Colder than Here, Sleuth, A Hundred Words for Snow and Terra Nova. In January 2026, we presented a Festival with a number of events, including the play Jeffrey Barnard is Unwell.
Committee
The committee of the society who have served during the year are detailed below:
Sarah Ambrose (Chair), Dick Bennett (Facilities Manager), Robert Graydon (Artistic Manager), Andrew Middleton (Treasurer), Adrian Harding (Marketing Manager), Sally Matthews (Secretary), Angela Legg, Mikey Foulterton, Brian Williams and Mike Stanley.
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THE SWAN THEATRE COMPANY
CHARITY NUMBER : 292763
REPORT OF THE COMMITTEE (continued)
FOR THE YEAR ENDED 28 FEBRUARY 2026
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
S Ambrose Chair
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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 28 FEBRUARY 2026
I report on the accounts of the society for the year ended 28 February 2026, 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 Date : ……………….. Read & Co. Chartered Accountants 1 Park Gardens YEOVIL Somerset BA20 1DW
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THE SWAN THEATRE COMPANY
CHARITY NUMBER : 292763
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 28 FEBRUARY 2026
| Incoming resources Donations Activities in furtherance of the charity’s objectives: Government grants received Productions Activities for generating funds: Operations Other Income Fundraising Donations Bar sales Administrative and income tax received Total incoming resources Resources expended Cost of generating funds: Operations Bar expenditure Charitable expenditure: Productions Other administration: Administration Services Depreciation Total resources expended Net movements in funds Fund balances brought forward at 1 March 2025 Fund balances carried forward at 28 February 2026 |
General Restricted Total Fund Fund 2026 2025 (Capital) £ £ £ £ - - - - - - - 42051 - 42051 49468 9273 - 9273 13677 2531 - 2531 3065 2149 - 2149 2120 95371 - 95371 - 15654 - 15654 18931 13488 - 13488 4482 180,517 - 180,517 91743 |
|---|---|
| 20503 - 20503 19340 6126 - 6126 7060 17813 - 17813 17024 7672 - 7672 7854 4998 - 4998 10984 15476 - 15476 6994 |
|
| 72588 - 72588 69256 107929 - 107929 22487 |
|
| 137430 - 137430 114943 |
|
| 245359 - 245359 137430 |
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THE SWAN THEATRE COMPANY
CHARITY NUMBER : 292763
BALANCE SHEET
FOR THE YEAR ENDED 28 FEBRUARY 2026
| Notes Fixed assets 4 Freehold property Improvements to property Equipment Current assets 5 Accrued income Debtors 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 Revaluation reserve 8 General fund 7 |
£ 889 2162 5750 45298 |
£ 889 2162 5750 45298 |
2026 £ 120000 195738 2274 318012 45445 363457 - 118098 245359 363457 |
£ - 2800 10598 90563 103961 12284 |
2025 £ 120000 41293 2558 |
|||
|---|---|---|---|---|---|---|---|---|
| 163851 91677 |
||||||||
| 54099 8654 |
||||||||
| 255528 | ||||||||
| - 118098 137430 |
||||||||
| 255528 |
Approved by the committee on ………………………
Chair: S Ambrose
Treasurer: A Middleton
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THE SWAN THEATRE COMPANY
CHARITY NUMBER : 292763
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
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) and 20 years straight line - Equipment 10 years straight line
2. Related party transactions
During the year the Board of Trustees received no remuneration.
| 3. Operating surplus/(deficit) Operating (deficit)/surplus is stated after charging: Independent examiners remuneration Depreciation |
2026 £ - 15476 |
2025 £ - 6994 |
|---|---|---|
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THE SWAN THEATRE COMPANY
CHARITY NUMBER : 292763
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 28 FEBRUARY 2026
4. Tangible fixed assets
| Freehold Property Equipment Total property improvements £ £ £ £ Cost Balance brought forward at 1 March 2025 124448 314893 35572 474913 Additions -169637 - 169637 Balance carried forward at 28 February 2026 124448 484530 35572 644550 Depreciation Balance brought forward at 1 March 2025 4448 273600 33014 311062 Charge for year - 15192 284 15476 Balance carried forward at 28 February 2026 4448 288792 33298 326538 Net book value Brought forward 120000 195738 2274 318012 Carried forward 120000 41293 2558 163851 5. Debtors 2026 2025 £ £ Accrued income 889 - Debtors 2162 2800 Prepayments 5750 10598 8801 13398 The above debtors without exception fall due within one year. 6. Creditors: amounts falling due within one year 2026 2025 £ £ Creditors - - Deferred income 5046 5708 Accruals 3608 6576 8654 12284 |
Freehold Property Equipment Total property improvements £ £ £ £ Cost Balance brought forward at 1 March 2025 124448 314893 35572 474913 Additions -169637 - 169637 Balance carried forward at 28 February 2026 124448 484530 35572 644550 Depreciation Balance brought forward at 1 March 2025 4448 273600 33014 311062 Charge for year - 15192 284 15476 Balance carried forward at 28 February 2026 4448 288792 33298 326538 Net book value Brought forward 120000 195738 2274 318012 Carried forward 120000 41293 2558 163851 5. Debtors 2026 2025 £ £ Accrued income 889 - Debtors 2162 2800 Prepayments 5750 10598 8801 13398 The above debtors without exception fall due within one year. 6. Creditors: amounts falling due within one year 2026 2025 £ £ Creditors - - Deferred income 5046 5708 Accruals 3608 6576 8654 12284 |
Freehold Property Equipment Total property improvements £ £ £ £ Cost Balance brought forward at 1 March 2025 124448 314893 35572 474913 Additions -169637 - 169637 Balance carried forward at 28 February 2026 124448 484530 35572 644550 Depreciation Balance brought forward at 1 March 2025 4448 273600 33014 311062 Charge for year - 15192 284 15476 Balance carried forward at 28 February 2026 4448 288792 33298 326538 Net book value Brought forward 120000 195738 2274 318012 Carried forward 120000 41293 2558 163851 5. Debtors 2026 2025 £ £ Accrued income 889 - Debtors 2162 2800 Prepayments 5750 10598 8801 13398 The above debtors without exception fall due within one year. 6. Creditors: amounts falling due within one year 2026 2025 £ £ Creditors - - Deferred income 5046 5708 Accruals 3608 6576 8654 12284 |
Freehold Property Equipment Total property improvements £ £ £ £ Cost Balance brought forward at 1 March 2025 124448 314893 35572 474913 Additions -169637 - 169637 Balance carried forward at 28 February 2026 124448 484530 35572 644550 Depreciation Balance brought forward at 1 March 2025 4448 273600 33014 311062 Charge for year - 15192 284 15476 Balance carried forward at 28 February 2026 4448 288792 33298 326538 Net book value Brought forward 120000 195738 2274 318012 Carried forward 120000 41293 2558 163851 5. Debtors 2026 2025 £ £ Accrued income 889 - Debtors 2162 2800 Prepayments 5750 10598 8801 13398 The above debtors without exception fall due within one year. 6. Creditors: amounts falling due within one year 2026 2025 £ £ Creditors - - Deferred income 5046 5708 Accruals 3608 6576 8654 12284 |
Freehold Property Equipment Total property improvements £ £ £ £ Cost Balance brought forward at 1 March 2025 124448 314893 35572 474913 Additions -169637 - 169637 Balance carried forward at 28 February 2026 124448 484530 35572 644550 Depreciation Balance brought forward at 1 March 2025 4448 273600 33014 311062 Charge for year - 15192 284 15476 Balance carried forward at 28 February 2026 4448 288792 33298 326538 Net book value Brought forward 120000 195738 2274 318012 Carried forward 120000 41293 2558 163851 5. Debtors 2026 2025 £ £ Accrued income 889 - Debtors 2162 2800 Prepayments 5750 10598 8801 13398 The above debtors without exception fall due within one year. 6. Creditors: amounts falling due within one year 2026 2025 £ £ Creditors - - Deferred income 5046 5708 Accruals 3608 6576 8654 12284 |
Freehold Property Equipment Total property improvements £ £ £ £ Cost Balance brought forward at 1 March 2025 124448 314893 35572 474913 Additions -169637 - 169637 Balance carried forward at 28 February 2026 124448 484530 35572 644550 Depreciation Balance brought forward at 1 March 2025 4448 273600 33014 311062 Charge for year - 15192 284 15476 Balance carried forward at 28 February 2026 4448 288792 33298 326538 Net book value Brought forward 120000 195738 2274 318012 Carried forward 120000 41293 2558 163851 5. Debtors 2026 2025 £ £ Accrued income 889 - Debtors 2162 2800 Prepayments 5750 10598 8801 13398 The above debtors without exception fall due within one year. 6. Creditors: amounts falling due within one year 2026 2025 £ £ Creditors - - Deferred income 5046 5708 Accruals 3608 6576 8654 12284 |
|---|---|---|---|---|---|
| 124448 484530 35572 644550 |
|||||
| 4448 273600 33014 311062 - 15192 284 15476 4448 288792 33298 326538 120000 195738 2274 318012 |
4448 273600 33014 311062 - 15192 284 15476 4448 288792 33298 326538 |
||||
| 2274 318012 |
|||||
| 120000 41293 |
2558 163851 |
||||
| 2026 £ 889 2162 5750 8801 2026 £ - 5046 3608 8654 |
2025 £ - 2800 10598 |
||||
| 13398 | |||||
| 2025 £ - 5708 6576 12284 |
2025 £ - 5708 6576 |
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THE SWAN THEATRE COMPANY
CHARITY NUMBER : 292763
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 28 FEBRUARY 2026
7. General fund
| 7. General fund |
|
|---|---|
| At 1 March Transfer from Restricted Fund Net movement for year At 28 February Represented by: Fixed assets Net current assets 8. Revaluation reserve At 1 March Transfer to General Fund At 28 February |
2026 2025 £ £ 137430 114943 - - 107929 22487 |
| 245359 137430 |
|
| 199914 45753 45445 91677 245359 137430 |
|
| 2026 2025 £ £ 118098 118098 - - |
|
| 118098 118098 |
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