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2021-03-31-accounts

Company number 1962946 Charity number 293201

Trestle Theatre Company Limited

(Limited by Guarantee)

Report and Financial Statements for the year ended 31 March 2021

Breckman & Company Ltd Chartered Certified Accountants 49 South Molton Street London W1K 5LH

Trestle Theatre Company Limited

(Limited by Guarantee)

Contents

Page
Reference and Administrative Details 1
Trustees' Report 2 - 10
Independent Examiner's Report 11
Statement of Financial Activities (including Income and Expenditure Account) 12 - 14
Balance Sheet 15
Notes to the Financial Statements 16 - 25

Trestle Theatre Company Limited

(Limited by Guarantee)

Reference and Administrative Details

Constitution

The company is a private company limited by guarantee and registered in EW - England and Wales, company number 1962946, incorporated under the Companies Act and its governing document is its Memorandum and Articles of Association. The company is a registered charity, number 293201.

Directors and trustees

The directors of the charitable company (Trestle Theatre Company Limited) are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees.

Policies and procedures adopted for the induction and training of trustees are ongoing and incorporated indirectly into the regular trustees meetings.

The trustees during the year and since the year end, were :

Amlet David appointed 29 June 2021 Zahida Din resigned 4 May 2021 Harry Kinsley Sarah Pepper appointed 29 June 2021 Jeanne Rae resigned 1 November 2021 Kathryn Rogers appointed 6 September 2021 Laura Rolinson (Chair) Esther Wane resigned 17 January 2021 Tom Watkins appointed 6 September 2021

Secretary

Clare Winter

Executive Director

Clare Winter

Creative Director

Helen Barnett

Independent Examiners

Breckman & Company Ltd, Chartered Certified Accountants, 49 South Molton Street, London W1K 5LH.

Bankers

Barclays Bank Plc, Whetstone Business Centre, 1250 High Road, Whetstone, London N20 0PB.

Registered office and operation address

Trestle Arts Base, Russet Drive, St Albans, Hertfordshire AL4 0JQ.

1

Trestle Theatre Company Limited

(Limited by Guarantee)

Trustees' Report

The trustees present their annual report together with the financial statements of the charity for the year ended 31 March 2021 which are also prepared to meet the requirements of a directors' report for Companies Act purposes.

The reference and administrative details set out on page 1 forms part of this report. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association and 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).

Principal activity

The principal activity of the company during the year continued to be delivering educational performances, resources, workshops and training in mask and physical theatre: running Trestle Arts Base as a community and professional arts resource and making theatre masks for educational purposes.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Trestle Theatre Company Limited is a company limited by guarantee governed by its Memorandum and Articles of Association dated 21 November 1985. It is a registered charity with the Charity Commission. It is governed by a Board of voluntary non-executive directors who are Trustees of the charity. The Board delegates the day-to-day management to its employees led by the Artistic Director and Finance and Operations Director. Members' liability is limited to one pound should the company be wound up while they are a member or during the year afterwards.

Appointment of Trustees

In order to obtain a wide spread of experience and appropriate skills the recruitment of Trustees is usually through advertisement and personal contacts.

Trustee induction and training

New Trustees are provided with an information pack including: History and activities of the Company Role of Trestle Trustees Responsibilities of Charitable Trustees (Charity Commission publication CC3 and summary CC3a) Current Trustees Memorandum and Articles of Association Most recent accounts Most recent annual budget and management accounts Three year plan Company policies Organisational chart and current staff

New Trustees have a meeting with the Chair of the Board and/or another member, then with the Executive Director and Creative Director to familiarise themselves with their responsibilities and legal obligations to the Company and their role as Trustee.

2

Trestle Theatre Company Limited

(Limited by Guarantee)

Trustees' Report

Organisation

The Board of Trustees shall be not fewer than 2 and not more than 30 members. Each year there will be 4 Board meetings, the AGM and usually one extraordinary meeting. One Saturday a year is scheduled for a Board 'Away Day''.

Each Board member serves a term of 3 years, at the end of which they can stand for re-election to a further term of 3 years, if they wish to do so and there are no objections, after which they must stand down for at least 1 year.

Risk management

The Trustees continue to monitor risk including:

OBJECTIVES AND ACTIVITIES

Trestle Theatre Company creates unique masks for use in participation, performance and professional development and is the only internationally recognised Mask Company in the UK; Trestle works in partnership with established and new arts companies, educational establishments and creative businesses.

Since 1981, Trestle has toured new productions and from 2002 the Company has run Trestle Arts Base in St Albans as a welcoming space valued by local, diverse communities, a training and performance venue loved by artists, teachers and businesses and a home to Trestle's internationally successful mask making operation.

The beneficiaries are:

Public Benefit

In shaping our objectives for the year and planning our activities, the Trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'. In particular the Trustees consider how planned activities will contribute to aims and objectives they have set.

From the Memorandum of Association

"The objects for which the Company is registered are to promote, maintain, improve and advance education, particularly by the encouragement of the Arts including the arts of drama, ballet, music, singing, literature, sculpture and painting."

3

Trestle Theatre Company Limited

(Limited by Guarantee)

Trustees' Report

The Company achieves the objectives through strategies to:

The areas of activity are:

Major achievements of the year were:

4

Trestle Theatre Company Limited

(Limited by Guarantee)

Trustees' Report

Trestle's year in figures

This year was a very different landscape for many companies, particularly in the arts. Despite the challenges of the COVID-19 pandemic we managed to continue to deliver our projects online. This meant that we continued to reach participants who would normally come to Trestle Arts Base from our School of Drama, Dance Now, Act Up and Sing Out.

We delivered approximately 80 workshops for around 300 participants including international schools and companies plus training for 90 teachers & artists at CPD, PGCE & NQT level over 15 sessions. At the Arts Base we delivered 160 sessions with our School of Drama and Inclusive Groups for 194 participants. We provided online resources accessed by around 3,000 people. In total we delivered 239 sessions and performances and engaged around 3460 people. (Year end 2019/20 463 workshops and performances engaging 5,050 participants).

Overall 211 sets of masks were sold, with 51 sets sent abroad to 19 countries, including many European places as well as Australia, Belgium, Canada, France, Laos, New Zealand, Iceland, Japan, Singapore, UAE, China and Taiwan. (Year end 2019/20 466 sets were sold).

The Impact of Coronavirus

COVID-19 has had a huge impact on Trestle as we entered the new financial year in April 2020. Like many other businesses we were forced to close our doors during lockdown. The impact of COVID-19 will prove to be a defining part of our future plans. Where possible we took advantage of the Job Retention Scheme and secured funding from The Arts Council and St Albans District Council which meant we have been fortunate enough to avoid any redundancies. We moved a number of our workshops to an online platform and managed to continue to engage in a very positive way with participants

We opened for a short while in a limited but Covid-secure environment during September and October and closed again during the second lockdown. We again moved our classes to live streaming to help provide continuity.

OUR WORK

WORKSHOPS AND TRAINING

Secondary Schools Workshops

Workshop numbers have been drastically down this year due to prolonged school closures and National lockdowns. Although we were successful in offering some schools online workshops it was difficult to engage them in what has proven to be a very challenging year for the education system.

International

We were able to deliver an online residency project with the Singapore American School where we supported them in creating 5 mask performances for film with our Basic mask sets. We were also able to deliver an online CPD session that was attended by several International school teachers who would not have been able to engage with our training otherwise..

5

Trestle Theatre Company Limited

(Limited by Guarantee)

Trustees' Report

Higher Education

We continued to deliver workshops for Drama Studio London and the Acting for Social Change Module on Northampton University's Creative Theatre Practice BA. Due to the pandemic we were unable to work with the PGCE students at Middlesex who had their teaching days lowered. We continued to deliver our contributions to the MA in Education (Drama).

Arts On Prescription

We successfully delivered 2 M-ask wellbeing projects as part of our Herts Year Of Culture 2020 Cultural Communities programme; one online and one in person. We also delivered an online Creative Minds project in collaboration with Mind in Mid Herts. Being able to deliver this programme for adults as we came out of the first National lockdown really helped to support them and combat social isolation.

Yarico

Following the Black Lives Matter Protests in 2020 we began a review of our work with specific focus on Equality, Diversity and Inclusion. We have decided to discontinue our Yarico offer based on these conversations as we feel its relevance has changed.

Rachel

The legacy performance of Rachel scheduled for April 2020 was sadly postponed due to COVID-19.

Trestle School of Drama

We were sorry to have to close The School of Drama for the Summer term in 2020.

Trestle's Inclusive Community Groups

Our inclusive groups remain very popular and we were thrilled to be able to continue to deliver online and in a blended way across the year to provide as much engagement as possible to our participants. We were also able to bring the group together on our social media channels creating films to share with the rest of our community during the lockdowns.

TRESTLE PARTNERSHIPS

St Albans Museum Commissions

We were pleased to continue our relationship with St Albans Museum and Galleries by planning an exhibition for 2021 as part of our 40th Birthday year throughout 2021.

Pursued By A Bear (PBAB)

Following their R & D on Nothing on Earth Pursued By A Bear hoped to tour the production in 2020 but sadly were unable to during Covid. They did however produce a series of online films which we were able to be part of, launching one on our website and social media platforms.

Video Feet (VF)

In terms of VF rent in kind for 2020-2021, VF created an ident for our 40th Birthday project.

6

Trestle Theatre Company Limited

(Limited by Guarantee)

Trustees' Report

Hertfordshire Cultural Education Partnership

Trestle continue to sit on the steering group for the Hertfordshire Cultural Education Partnership. The Partnership Investment commissioning was put on hold during the pandemic following the needs analysis completed in March 2020.

Hertfordshire Year of Culture 2020

Trestle sat on the Programme Board for the Year of Culture, as the only arts organisation working across Hertfordshire. We were thrilled to be able to deliver our Cultural Community Project in Broxbourne, Borehamwood and London Colney that received excellent feedback and produced 45 workshops, 4 films and engaged around 3,000 people.

Research

Dr Catherine Rees is developing a bid to the Arts and Humanities Research Council to look at the social impact of working with mask in Indonesia. The focus has been shifted slightly due to the impact of COVID-19 and will explore virtual solutions to running workshops rather than international travels.

Developing Artists

Unfortunately, due to the pandemic we were unable to continue with our planned Developing Artists programme but we look forward to restarting this as the lockdown restrictions ease.

OUR MASKS

Although sales were affected by COVID-19 we are happy to report that they continue to remain popular both in the UK and internationally.

Mini Masks

We finished a project with Roebuck Primary in Stevenage which gave us a useful insight into the development of the mini masks. With this feedback we began a second prototype set.

OUR VENUE

It was very challenging to keep Trestle Arts Base safe and secure during the last year due to the effects of COVID-19. When we were allowed to attend TAB outside of lockdown we used this time to re-decorate the venue. This was done with a mixture of volunteers and paid staff. We were also able to have a big clear out from our storage sheds and cupboards which put us in a good position to make better use of space.

Due to the changing nature of working from home during COVID-19 lockdowns we decided to upgrade our IT infrastructure so that we could continue to deliver an effective online presence and then offer blended workshops. This was funded by the Arts Council as part of their CRF grant.

Performances and Events

Like other venues all performances were cancelled during the year.

7

Trestle Theatre Company Limited

(Limited by Guarantee)

Trustees' Report

Hires

Trestle Arts Base has four rooms for hire; The Theatre, The Apex, The Dance Studio and Drama Studio all of which are supported by the Gallery Café and Bar. These are normally hired to professional and amateur arts companies, community classes and groups. Due to the pandemic hiring of these spaces largely ceased throughout the year although when lockdown did ease we were able to continue to allow community groups to use the rooms to produce online classes.

STAFFING

With the support of the Board our Executive and Creative Directors, Clare Winter and Helen Barnett, successfully navigated the challenges brought on by COVID-19. In the first part of the year all staff were furloughed. Clare and Helen were able to use flexible furlough to apply for funding which enabled us to create work and to keep functioning as a business and deliver our mission. In October all staff were brought back to work albeit in a very adapted way. Due to the hard work and commitment to the Company, we were able to keep all staff employed and fortunately no redundancies were made.

Graduate Scheme

We were pleased to have a work placement student from Loughborough University with us for 6 months. The intern mainly focused on the activities running at the building, marketing and planning for our 40th Birthday programme.

IN KIND SUPPORT

Trestle received in-kind support from St. Albans City & District Council in the form of peppercorn rent of Trestle Arts Base, valued at £20,000 per annum. The Council also gave Trestle Theatre full rates relief (80% mandatory and 20% discretionary), valued at a further £8,000 per annum.

VOLUNTEERS

Due to COVID-19 we were unable to retain any volunteers.

DIVERSITY

Engagement with culturally diverse and disabled artists, adults and young people continued through Trestle's participatory work across the UK, in particular through the M-ask Wellbeing programmes and our inclusive groups Sing Out, Act Up and Dance Now.

FINANCIAL SUSTAINABILITY

The Management Committee continued with a clear plan for monitoring income and expenditure on a monthly basis. This became even more crucial during the pandemic. Cash-flows were closely monitored and grants from The Arts Council, Government and St Albans District Council were utilised to their maximum potential.

8

Trestle Theatre Company Limited

(Limited by Guarantee)

Trustees' Report

FINANCIAL REVIEW

The financial system in place was continued, with close regulations of finances and a well-monitored cash flow situation for the Company. The challenge of being a small team running a complex organisation was achieved through clarity of mission and vision and hard work by employees able to meet the demands of their roles and responsibilities.

Earned Income

FUNDRAISING

HMRC Job Retention Scheme £58,665 Arts Council England (balance of funding for 'Rachel' project) £1,017 Dreda Gordon, Herts County Council Locality Grant £2,695 Colney Heath Parish Council £500 Behan Partnership £1,332 Arts Council Emergency Funding Covid 19 £19,965 Arts Council Cultural Recovery Fund £64,908 Herts Community Foundation £333 Royal Opera House Bridge £3,500 St Albans District Council Covid scheme £25,000 St Albans District Council Community Grant £1,283

Expenditure

The expenditure budget was recalculated due to the effect of COVID-19. This was then carefully monitored to ensure that it was managed within the agreed budget. All expenditure was to promote the Charity's interest.

RESERVES POLICY

The Charity aims to hold a minimum reserve. This total is made of the equivalent of 3 months running costs. Restricted funds carried forward were £82,409. Designated running costs and buildings repairs reserves of £50,000 were also carried forward. Total funds were £159,694.

PLANS FOR FUTURE PERIODS

9

Trestle Theatre Company Limited

(Limited by Guarantee)

Trustees' Report

SMALL COMPANY EXEMPTIONS

This report is prepared in accordance with the provisions of the Companies Act 2006 relating to small companies. companies.

This report was approved by the Board of Trustees on 23 December 2021 and signed on its behalf by by

Laura Rolinson (Chair) Trustee

10

Independent Examiner's Report to the Trustees of Trestle Theatre Company Limited

(Limited by Guarantee)

I report on the accounts of the charity for the year ended 31 March 2021, which are set out on pages 12 to 25.

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity's gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of The Association of Chartered Certified Accountants.

Having satisfied myself that the charity is not subject to an audit under company law and is eligible for independent examination, it is my responsibility to:

· examine the accounts under section 145 of the 2011 Act;

· follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act; and

Basis of independent examiner's report

My examination was carried out in accordance with general Directions given by the Charity Commission. 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 concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below.

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 respect, the requirements:

  2. to keep accounting records in accordance with section 386 of the Companies Act 2006; and

· to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities

have not been met; or

  1. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Graham Berry FCCA Breckman & Company Ltd Chartered Certified Accountants

49 South Molton Street London W1K 5LH

23 December 2021

11

Trestle Theatre Company Limited

(Limited by Guarantee)

Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31 March 2021

Unrestricted
Restricted
funds
funds
Notes
£
£
Income and endowments from:
2
Donations and legacies - page 13
175,090
-
Charitable activities:
Production/project income - page 13
92,775
10,660
Total
267,865
10,660
Expenditure on:
3
Charitable activities:
Production/project costs - page 14
328,815
8,465
Total
328,815
8,465
Net (expenditure)/income
4
)
(60,950
2,195
Transfers between funds
15, 16
79,768
)
(79,768
Net movement in funds
18,818
)
(77,573
Reconciliation of funds:
Total funds brought forward
58,467
159,982
Total funds carried forward
15, 16
77,285
82,409		 2021
Unrestricted
Restricted
Total
funds
funds
£
£
£
175,090
12,047
-
103,435
305,984
30,608
278,525
318,031
30,608
337,280
398,307
30,608
337,280
398,307
30,608
)
(58,755
)
(80,276
-
-
79,768
)
(79,768
)
(58,755
)
(508
)
(79,768
218,449
58,975
239,750
159,694
58,467
159,982		 2020
Total
£
12,047
336,592
348,639
428,915
428,915
)
(80,276
-
)
(80,276
298,725
218,449

The notes on pages 16 to 25 form an integral part of these financial statements.

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities.

12

Trestle Theatre Company Limited

(Limited by Guarantee)

Year ended 31 March 2021

Income from donations and legacies
Grants
ACE Culture Recovery Fund
ACE COVID-19 Emergency Fund
SADC COVID-19 Emergency Fund
SADC funding
HMRC Job Retention Scheme funding
Donations
General donations
Support in Kind - VIDEOfeet
Income from charitable activities
Production/project income
Our Work
Our Masks
Our Venue
Project specific funding
Grants
ACE project grants
St Albans District Council
Herts County Council
Neighbourly Charitable Trust
Colney Heath Parish Council
Herts Community Foundation
Essex University
Behan Partnership
Awards 4 All
Royal Opera House		 2021
£
64,908
19,965
25,000
-
58,665
1,552
5,000
27,238
49,909
15,628
1,017
1,283
2,695
-
500
333
-
1,332
-
3,500		 £
168,538
6,552
175,090
92,775
10,660
103,435		 2020
£
-
-
-
3,701
-
3,346
5,000
100,438
94,277
111,269
19,043
-
850
2,000
500
667
3,800
668
3,080
-		 £
3,701
8,346
12,047
305,984
30,608
336,592

13

Trestle Theatre Company Limited

(Limited by Guarantee)

Year ended 31 March 2021

Charitable activities
Production/project costs
Our Work
Direct Costs
Support costs
Our Masks
Direct Costs
Support costs
Our Venue
Direct Costs
Support costs
Governance costs		 2021
£
£
72,967
72,093
145,060
47,087
29,868
76,955
27,581
84,684
112,265
334,280
3,000
337,280		 2020
£
£
121,037
77,594
198,631
55,099
30,290
85,389
83,803
58,092
141,895
425,915
3,000
428,915		 2020
£
£
121,037
77,594
198,631
55,099
30,290
85,389
83,803
58,092
141,895
425,915
3,000
428,915
425,915
3,000
428,915

Total support costs of £186,645 (2020 - £165,976) are apportioned to charitable activities on a usage basis - see note 3 (page 19).

Governance costs

Professional/financial
Accountancy/consultancy		 3,000
3,000		 3,000
3,000

14

Trestle Theatre Company Limited

(Limited by Guarantee)

Balance Sheet 31 March 2021

2021 2020
Notes £ £ £ £
Fixed assets
Tangible assets 9 89,141 167,666
Current assets
Stocks 10 6,786 4,250
Debtors 11 3,276 2,100
Cash at bank and in hand 97,217 77,560
107,279 83,910
Liabilities
Creditors: amounts falling
due within one year 12 )
(36,726		 )
(33,127
Net current assets 70,553 50,783
Total assets less current
liabilities 159,694 218,449
The funds of the charity:
Unrestricted funds 15
General fund 27,285 8,467
Designated funds 50,000 50,000
77,285 58,467
Restricted income funds 16 82,409 159,982
Total charity funds 159,694 218,449

For the year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

· The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;

· The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions of the Companies Act 2006 applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees on 23 December 2021 and signed on its behalf by

Laura Rolinson (Chair) Trustee

Harry Kinsley Trustee

The notes on pages 16 to 25 form an integral part of these financial statements.

15

Trestle Theatre Company Limited

(Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2021

1. Accounting policies

1.1. Basis of preparing the financial statements

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (issued October 2019) 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) - (Charities SORP (FRS 102)), and the Companies Act 2006.

The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

1.2. Incoming resources

All incoming resources are included in the Statement of Financial Activities when:

- Donations and legacies

Grants/donations are recognised in incoming resources in the year in which they are receivable, except as follows:

- Charitable activities

Production income - income from performances, merchandise, hires, workshops and sundry other earned income is included in incoming resources in the period in which the relevant activity takes place.

Project specific funding - when donors specify that donations and grants are for particular restricted purposes, which do not amount to pre-conditions regarding entitlement, this income is included in incoming resources of restricted funds when receivable.

16

Trestle Theatre Company Limited

(Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2021

- Donated services and facilities

Donated services or facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. On receipt, donated services and facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

- Investment income

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.

1.3. Expenditure

All expenditure is included on an accruals basis inclusive of any VAT which cannot be recovered and is recognised when:

- Charitable activities

Costs of charitable activities include direct costs plus an apportionment of overhead and support costs as shown in note 3 on page 19.

- Support costs

The administrative and overhead costs associated with running the office from which the company operates as well as governance costs. Support costs are wholly attributable to theatre production costs.

- Governance costs

Costs associated with the constitutional and statutory requirements of the charity.

1.4. Fund accounting

Funds held by the charity are either:

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

17

Trestle Theatre Company Limited

(Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2021

1.5. Tangible fixed assets and depreciation

Individual fixed assets costing £1,000 or more are capitalised at cost.

Depreciation is provided at annual rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:

Leasehold property - 5% on cost Fixtures/fittings/equipment - 10% and 25% on cost

1.6. Stock

Merchandise stock is valued at the lower of cost and net realisable value.

1.7. Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due.

1.8. Cash at bank and in hand

Cash at bank and 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.

1.9. 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 due.

1.10. Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised as expenditure when due.

1.11. 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.

1.12. Significant Accounting Estimates and Judgements

In determining the carrying amounts of certain assets and liabilities, the charity makes assumptions of the effects of uncertain future events on those assets and liabilities at the balance sheet date. The charity's estimates and assumptions are based on historical experience and expectation of future events and are reviewed annually.

2. Incoming resources

The total incoming resources for the year has been derived from the principal activity undertaken wholly in the UK.

18

Trestle Theatre Company Limited

(Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2021

3.
Allocation of support costs and overheads
Cost type
Indirect wages costs
Equipment/maintenance
Office costs
Postage/carriage
Telephone
Staff costs
Premises costs
Subscriptions/licences
Insurance
Marketing/PR
IT/payroll support
HR Support
Bank charges
Legal expenses
Consultancy fees
Sundries
Depreciation		 2021
£
57,592
7,450
1,495
-
1,630
516
13,978
584
11,711
668
2,600
868
663
13
5,070
627
81,180
186,645		 2020
£
68,422
1,497
935
37
1,742
1,150
-
92
4,629
293
1,385
897
2,846
13
-
292
81,746
165,976

The total support cost attributable to charitable activities is apportioned on a usage basis between Our Work, Our Masks and Our Venue.

Our Work
Our Masks
Our Venue
4.
Net income/(expenditure) for the year is
stated after charging:
Depreciation of tangible fixed assets
Independent Examiner's remuneration:
- independent examination		 2021
£
72,093
29,868
84,684
186,645
2021
£
81,180
3,000		 2020
£
77,594
30,290
58,092
165,976
2020
£
81,746
3,000

19

Trestle Theatre Company Limited

(Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2021

5. Trustees' emoluments and reimbursed expenses

The trustees received no remuneration during the year (2020 - £nil).

The aggregated amount reimbursed to trustees during the year was £nil (2020 - £nil).

6.

Staff costs and numbers
Staff costs
Salaries and wages
Social security costs
Pension contributions		 2021
£
167,561
9,946
4,876
182,383		 2020
£
191,160
13,152
5,539
209,851

No employee earned £60,000 or more during the year (2020 - nil).

The key management personnel of the charity comprises the trustees and the Senior Management Team. The total employee benefits of the key management personnel of the charity during the year were £67,918 (2020 - £60,685).

Staff numbers

The average number of employees (including casual and part time staff) during the year was made up as follows:


up as follows:
2021 2020
Number Number
Admininstration/Venue 3 3
Artistic 2 3
Merchandise 2 2
Cafe 2 2
9 10

7. Pension costs

The company operates a defined contribution pension scheme in respect of its employees. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £4,876 (2020 - £5,539).

20

Trestle Theatre Company Limited

(Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2021

8. Corporation Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

9.
Fixed assets - tangible assets
Long
Fixtures/
leasehold
fittings/
property
equipment
£
£
Cost
1 April 2020
1,595,362
244,523
Additions
-
2,655
31 March 2021
1,595,362
247,178
Depreciation
1 April 2020
1,435,380
236,839
Charge for year
79,768
1,412
31 March 2021
1,515,148
238,251
Net book values
31 March 2021
80,214
8,927
31 March 2020
159,982
7,684
10.
Stocks
2021
£
Stocks
6,786
11.
Debtors
2021
£
Trade debtors
378
Other debtors
2,664
Prepayments and accrued income
234
3,276		 Total
£
1,839,885
2,655
1,842,540
1,672,219
81,180
1,753,399
89,141
167,666
2020
£
4,250
2020
£
1,631
-
469
2,100

21

Trestle Theatre Company Limited

(Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2021

12.
Creditors: amounts falling due
within one year
Trade creditors
Other taxation/social security
Other creditors
Accruals
Deferred income (note 13)
13.
Deferred income
Balance at 1 April 2020
Amount released to incoming resources
Amount deferred in the year
Balance at 31 March 2021		 2021
£
6,962
4,011
1,179
4,757
19,817
36,726		 2020
£
6,627
4,921
1,310
6,312
13,957
33,127
£
13,957
)
(13,957
19,817
19,817

Deferred income relates to production income received in advance.

14. Limited by guarantee

The private limited company is limited by guarantee, is registered in EW - England & Wales, and does not have a share capital. Each member gives a guarantee to contribute a sum, not exceeding £1, to the company should it be wound up. At 31 March 2021 there were 4 members.

22

Trestle Theatre Company Limited

(Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2021

15. Unrestricted funds Brought Incoming Outgoing Transfers Carried
forward resources resources forward
£ £ £ £ £
General fund 8,467 267,865 )
(328,815		 79,768 27,285
Designated funds:
Running costs reserve 30,000 - - - 30,000
Building repairs reserve 20,000 - - - 20,000
58,467 267,865 )
(328,815		 79,768 77,285

The Running costs and Building repairs reserves are funds designated to cover the criteria laid down in the Reserves Policy detailed in the Trustees' Report on page 9.

23

Trestle Theatre Company Limited

(Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2021

16. Restricted funds Brought Incoming Outgoing Transfers Carried
forward resources resources forward
£ £ £ £ £
Chapel Development 159,982 - - )
(79,768		 80,214
Learning and development - 3,500 )
(3,500		 - -
Dance Now! - 500 )
(500		 - -
Inclusive Groups - 3,448 )
(3,448		 - -
Rachel - 1,017 )
(1,017		 - -
Herts Community Foundation - 2,195 - - 2,195
159,982 10,660 )
(8,465		 )
(79,768		 82,409

Chapel Development Project Fund

The Chapel Development Project Fund comprises monies raised for the redevelopment of the Chapel. The balance shown represents the net book value of the improvements to the leasehold premises, depreciation on the leasehold being charged over 20 years and apportioned to each area of the company's activities. The trading surplus at the year end is, therefore, reduced by the value of this depreciation.


this depreciation.
The balance at 31 March 2021 is attributable to: £
Leasehold property 80,214

Learning and development

We were awarded a grant from the Royal Opera House Bridge to develop our learning offer. With the fund we hired two consultants to work with staff and the Board to review our current offer and make recommendations for future plans, including fundraising.

Dance Now!

Dance Now were supported by Councillor Dreda Gordon's Locality Budget during this year. We were very grateful to receive this funding to help us to continue to build this group whilst keeping costs low or free for the participants.

Inclusive Groups

Our inclusive groups remain very popular and we responded by starting another group that focussed around dance. This group is made up from 3 sessions a week; Act Up!, Sing Out! and newly formed Dance Now!. None of the groups would be able to continue without the continued support of our funders.

Rachel

We were awarded an ACE project grant to support re-rehearsal and a tour of Rachel. We produced the tour and worked in partnership with Small Nose Productions.

24

Trestle Theatre Company Limited

(Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2021

Herts Community Foundation

We were awarded funding from Herts Community Foundation as part of our Cultural Communities, Herts Year of Culture Project to deliver two M-ask Wellbeing programmes in London Colney. This amount was rolled on from last year as we were unable to deliver the project at the original time due to COVID19. We delivered this second part of the project in January-March 2021.

17. Analysis of net assets between funds

Analysis of net assets between funds
General
Designated
Restricted
funds
funds
funds
£
£
£
Fund balances at 31 March 2021
are represented by:
Tangible fixed assets
8,927
-
80,214
Net current assets
18,358
50,000
2,195
27,285
50,000
82,409		 Total
£
89,141
70,553
159,694

18. Related party transactions

During the year the company had no related party transactions that require disclosure.

25