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.
- 1 -
**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**
- 2 -
**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:
1. 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
2. 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
- 3 -
## **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|
- 4 -
## **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
- 5 -
**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|
|---|---|---|
- 6 -
## **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|
- 7 -
## **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|
- 8 -