**REGISTERED COMPANY NUMBER: 02163378 (England and Wales) REGISTERED CHARITY NUMBER: 298436**
**Report of the Trustees and**
**Unaudited Financial Statements**
**for the Year Ended 31 March 2024**
**for Prime Theatre**
Monahans Chartered Accountants Hermes House Fire Fly Avenue Swindon Wiltshire SN2 2GA
**Prime Theatre**
## **Contents of the Financial Statements for the Year Ended 31 March 2024**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|4|
|**Independent Examiner's Report**||5||
|**Statement of Financial Activities**||6||
|**Balance Sheet**||7||
|**Notes to the Financial Statements**|8|to|17|
**Prime Theatre (Registered number: 02163378)**
## **Report of the Trustees for the Year Ended 31 March 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 March 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**
## **Objectives and aims**
As set out in the charity's governing document the charity's objectives are:
To promote, maintain, improve, and advance public education, appreciation and understanding of the arts, particularly by the formulation, preparation, establishment and production of educational plays, festivals and production.
The principal activity of the charity is a theatre company. The charity uses the medium of drama to educate young people about social issues which directly affect their lives.
## **Public benefit**
The trustees have paid due regard to the Charity Commission's guidance on public benefit in deciding what activities the charity should undertake. The trustees consider that they have acted in the public benefit.
Prime Theatre advances education, understanding, inclusion and artistic skills development though the making of theatre. By specialising in theatre and theatre-making projects for children and young adults, Prime Theatre celebrates, inspires and challenges young people to secure the best possible future for us all. We give voice to a major and often-unheard section of our society and work to promote their health and happiness.
## **ACHIEVEMENT AND PERFORMANCE**
Prime had a transformational year in 23-24. It was the year we began a 3-year re-appointment to Arts Council England's National Portfolio with a hard-earned 135% uplift in funds. This increase in support was a testament to the impact we make with the young communities engaged and empowered through our programmes. Our excellence in artistry and reach is matched by the necessary strategic planning and financial management of trustees, staff and young volunteers. Prime is grateful for their collective vision, commitment and contribution to creative education.
Prime plays an important national role in youth theatre and youth voice, but we remain rooted and committed to the communities of Swindon. We know that with care, creativity & confidence our young people overcome Swindon's many economic and cultural challenges. It's a pleasure to serve them.
We worked again in a commissioning relationship with Swindon Borough Council's Children's Services to train, educate and mentor priority groups: Care Leavers, Looked After Children, Youth Justice groups, Disabled Young People and those Not in Education, Employment or Training (NEET). We're pleased to be in strategic partnership with the local authority when many other councils have withdrawn income for creative and cultural activities. Our work together makes a huge difference to the younger generations of our town, present and future.
This was our 5th year as a National Good Practice Centre for Arts Award qualifications. 1000+ young people enjoyed a series of developmental projects, 1-2-1 mentoring and Arts Award qualifications at all levels - from introductory level to university entry point. The ever-increasing partnerships we enter to deliver Arts Award benefit the diversity of young people, their interests, skills and lived experience.
Prime continues to deliver all its charitable objectives and spent this year planning an intended transformation into Prime Arts in 2024-5. We collectively interrogated and updated our vision, mission and values to reflect this evolution. We work towards a world in which young people have faith in themselves and their artistic contributions and those in power equally value them and their civic contribution.
Page 1
**Prime Theatre (Registered number: 02163378)**
## **Report of the Trustees for the Year Ended 31 March 2024**
## **Youth productions and theatre training:**
- We created a national youth theatre programme with Company 3 - and held free training for emerging and established practitioners online and in person
- We partnered the Royal Shakespeare Company to deliver a national Youth Voice Conference and strategy for youth theatres - We secured strategic funds from Arts Council England to begin the first English National Youth Theatre Census for over 15 years - Weekly workshops and rehearsals continued for Prime Youth Theatre's emerging artists. This year included residentials, performances and holiday projects
- 5 older members of Youth Theatre were commissioned to create their own work
- Members benefited for a third year of LAMDA's Pathways Programme encouraging young creatives into formal training with free workshops/auditions
## **Education and Community Programme:**
- Young people engaged with Youth Justice programmes joined our Arts Award programme for the first time - We programmed a second year of STEM to STEAM (Science, Technology, Engineering, Arts and Maths) events with the Swindon Science Festival
- Our arts and heritage programme increased dramatically thanks to support from the GWR (Great Western Railway) Community Investment Fund - we created digital tour around Swindon's historic Railway Village and ran activities exploring the decolonisation and diversification of records kept of Swindon's communities
- This Is When: a digital resource to prevent violence against young females launched fully for schools, youth workers and other groups - We partnered Tangle African Caribbean Theatre to develop the practise and platforming of young artists from the global majority - We ran a series of writing, design and performance projects with Kelmscott Manor (William Morris's summer home) for young people in care
- Where We Are: we were selected (with Swindon Museum and Art Gallery) by the British Museum to empower young artists and curators in our joint programmes
- We worked with South Swindon Parish Council to offer two weeks of free food and mixed arts activities in Swindon's historic Town Bowl for priority groups
## **Professional productions:**
- We began a partnership with National Trust podcasts dramatizing young people in history and employing professional actors who trained with Prime Youth Theatre
- We partnered Scotland's Pitlochry Festival Theatre for a second year running in the international audio project Queer, There and Everywhere
- We welcomed Ellipsis digital theatre to Swindon and created an audio walking performance for the public exploring youth experiences of migration and welcome
## **Access for All**
- We continued to provide free and discounted access to our programmes thanks to a multiplicity of trusts and foundations
- We extended our bespoke offer for young people with moderate learning disabilities thanks to continuing support from Children in Need. This strand has its own Prime Youth Theatre group, performance and inclusive holiday activities - We supported a wider range of young people and emerging artists in making their own applications to funders, increasing resource and aspiration for our town
- A major programme of work funded by The Listening Fund and Wiltshire Community paid young people to design, deliver and respond to a new cultural consultation and strategy to increase and amplify youth voice in Swindon. Swindon Borough Council supported this scheme and used it to influence the new Swindon Plan. Prime used the fund and its 6 lead Young Producers to launch the concept of the Signal Festival: the town's first Youth Arts Festival created by and for young people with major planning activity in this financial year.
## **FINANCIAL REVIEW Financial position**
At 31 March 2024, total funds were £501,327.
Prime ended the financial year 2023-24 with a large amount of Restricted Funds of £148,063 that were secured to deliver key projects. These funds will be spent as planned and in accordance with funding agreements.
Designated Funds remain held at agreed levels to meet any appropriate redundancy costs and fees related to any business closure.
Page 2
**Prime Theatre (Registered number: 02163378)**
## **Report of the Trustees for the Year Ended 31 March 2024**
## **FINANCIAL REVIEW**
## **Reserves policy**
The trustees are committed to building reserves that would enable the charity to fulfil its obligations, statutory and otherwise, in the event of a cessation of operations. At 31 March 2024 the trustees had designated funds of £75,000 to meet this objective. A designated fund of £7,556 has also been made for emergency replacement of equipment and programming contingency. Total unrestricted funds were £353,264 which includes £98,769 of tangible fixed assets. The amount of free reserves held (excluding restricted funds, designated funds and tangible fixed assets) are £171,939. These funds are in excess of our policy. The trustees acknowledge that with the proposed development of a new cultural quarter in Swindon the charity may need to move premises. These excess reserves will allow the charity to cover the financial costs of any move.
## **Going concern**
The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.
## **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.
## **Organisational structure**
Day to day management of the charity's affairs is delegate to the Management Team, comprising professional advisors and administrators.
## **Induction and training of new trustees**
The charity provides an induction pack and appropriate training for new trustees.
## **Risk management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
In satisfaction of this responsibility, the charity has prepared a Three Year Plan that identifies issues, many of them financial, which might impair the fulfilment of the charity's objectives, unless countered successfully. The Three Year Plan is reviewed annually.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
02163378 (England and Wales)
## **Registered Charity number**
298436
## **Registered office**
The Wyvern Theatre Theatre Square Swindon SN1 1QN
## **Trustees**
Emma Carter Jamila Gavin Sharon Hodge Pete Horwat Sue Welsh (resigned 9.8.22) Pauline Scott-Garrett (resigned 15.12.22) Jacob Tyrrell Ben Newbury (resigned 15.3.22) Erin Fletcher-Rowbotham (appointed 13.9.22) Nick Capstick Laura Goulden John Pfumojena (resigned 1.8.23) Lau Batty Jade Bennett
## **Company Secretary**
Sarah Wrixon
Page 3
**Prime Theatre (Registered number: 02163378)**
## **Report of the Trustees for the Year Ended 31 March 2024**
## **REFERENCE AND ADMINISTRATIVE DETAILS**
**Independent Examiner** James Gare Monahans Chartered Accountants Hermes House Fire Fly Avenue Swindon Wiltshire SN2 2GA Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ N R Capstick - Trustee
Page 4
**Independent Examiner's Report to the Trustees of Prime Theatre**
## **Independent examiner's report to the trustees of Prime Theatre ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
James Gare
Monahans Chartered Accountants Hermes House Fire Fly Avenue Swindon Wiltshire SN2 2GA
Date: .............................................
Page 5
## **Prime Theatre**
## **Statement of Financial Activities for the Year Ended 31 March 2024**
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
3
236,270
**Charitable activities**
6
Professional performances
15,439
Youth Theatre
6,622
Outreach & education
18,734
Other trading activities
4
603
Investment income
5
825
**Total**
278,493
**EXPENDITURE ON**
**Charitable activities**
7
Professional performances
98,050
Youth Theatre
11,191
Outreach & education
147,559
**Total**
256,800
**NET INCOME**
21,693
**RECONCILIATION OF FUNDS**
Total funds brought forward
331,571
**TOTAL FUNDS CARRIED FORWARD**
353,264|Restricted
funds
£
138,814
-
-
-
-
-
138,814
3,438
42,806
30,999
77,243
61,571
86,492
148,063|2024
Total
funds
£
375,084
15,439
6,622
18,734
603
825
417,307
101,488
53,997
178,558
334,043
83,264
418,063
501,327|2023
Total
funds
£
356,403
30,103
3,328
30,961
720
172|
|---|---|---|---|
||||421,687|
||||60,867
49,514
217,093|
||||327,474|
||||94,213
323,850|
||||418,063|
The notes form part of these financial statements
Page 6
**Prime Theatre (Registered number: 02163378)**
|**Balance Sheet**
**31 March 2024**
Notes
**FIXED ASSETS**
Tangible assets
14
**CURRENT ASSETS**
Debtors
15
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
16
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**NET ASSETS**
**FUNDS**
18
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|2024
£
98,769
48,900
374,428
423,328
(20,770)
402,558
501,327
501,327
353,264
148,063
501,327|2023
£
128,168
112,671
190,523
303,194
(13,299)
289,895
418,063
418,063
331,571
86,492
418,063|
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. N R Capstick - Trustee
The notes form part of these financial statements
Page 7
**Prime Theatre**
## **Notes to the Financial Statements for the Year Ended 31 March 2024**
## **1. STATUTORY INFORMATION**
Prime Theatre is a charitable company limited by guarantee, without share capital, incorporated in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The registered office address can be found in the Trustees' Report.
## **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.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest pound.
There are no significant areas of judgements or key sources of estimation uncertainty.
## **Going Concern**
The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.
## **Financial reporting standard 102 - reduced disclosure exemptions**
The charity has taken exemption from preparing a cash flow statement under the charities SORP (FRS 102) as the charity constitutes a small charity.
## **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 from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
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 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**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Stage and office equipment - 20% on straight line basis Motor vehicles - 20% on straight line basis
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Page 8
continued...
**Prime Theatre**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
## **2. ACCOUNTING POLICIES - continued**
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **Financial risk management**
The charity has minimal exposure to customer credit risk, liquidity risk and market risk. Please refer to the risk section of the trustees annual report for information on how risks are managed. The charity does not have any non basic financial instruments.
## **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.
## **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.
## **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.
## **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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **3.**
## **DONATIONS AND LEGACIES**
|Donations
Grants
Grants received, included in the above, are as follows:
Arts Council England
Other grants
Swindon Borough Council
Wiltshire Community Foundation
Children in Need
Windrush Foundation
People's Postcode Lottery
Community Lottery
Listening Fund
South Swindon Parish Council
British Museum
GWR Community Fund|2024
£
4,415
370,669
375,084
2024
£
217,555
5,000
19,300
9,975
14,761
-
-
-
41,000
6,368
5,460
51,250
370,669|2023
£
1,154
355,249|
|---|---|---|
|||356,403|
|||2023
£
195,055
26,922
19,300
5,000
9,722
14,650
25,000
9,600
41,000
9,000
-
-|
|||355,249|
Page 9
continued...
**Prime Theatre**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
## **4. OTHER TRADING ACTIVITIES**
|2024
£
Other income
603
**5.**
**INVESTMENT INCOME**
2024
£
Deposit account interest
825
**6.**
**INCOME FROM CHARITABLE ACTIVITIES**
2024
Activity
£
Professional productions -
ticket sales and other income Professional performances
15,439
Grants
Professional performances
-
Youth Theatre activities -
workshop and other income
Youth Theatre
6,622
Professional productions -
ticket sales and other income Outreach & education
240
Outreach & education activity
- workshops and other
income
Outreach & education
18,494
40,795
Grants received, included in the above, are as follows:
2024
£
Kickstart and Real Ideas Organisation
-
**7.**
**CHARITABLE ACTIVITIES COSTS**
Support
Direct
costs (see
Costs
note 8)
£
£
Professional performances
31,542
69,946
Youth Theatre
15,749
38,248
Outreach & education
55,200
123,358
102,491
231,552
**8.**
**SUPPORT COSTS**
Governance
Management
costs
£
£
Professional performances
67,981
1,965
Youth Theatre
38,248
-
Outreach & education
123,358
-
229,587
1,965|2023
£
720
2023
£
172
2023
£
8,411
21,692
3,328
-
30,961
64,392
2023
£
21,692
Totals
£
101,488
53,997
178,558|2023
£
720
2023
£
172
2023
£
8,411
21,692
3,328
-
30,961|
|---|---|---|
|||64,392|
|||2023
£
21,692|
||334,043||
||Totals
£
69,946
38,248
123,358||
||231,552||
Page 10
continued...
**Prime Theatre**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
## **9. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
||2024|2023|
|---|---|---|
||£|£|
|Depreciation - owned assets|33,278|27,583|
|Deficit on disposal of fixed assets|-|300|
|Accountancy and Independent Examination|1,965|1,770|
## **10. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
## **11. STAFF COSTS**
|**STAFF COSTS**|||
|---|---|---|
|Wages and salaries
Social security costs
Other pension costs|2024
£
144,687
9,561
2,733
156,981|2023
£
138,245
7,090
2,660|
|||147,995|
Key management personnel for the charity comprises the Chief Executive and the trustees. The total employee benefits for key management personnel of the charity were £64,428 (2023 - £52,555).
The average monthly number of employees during the year was as follows:
|Management team
Artists
Creative Arts and Arts admin assistants|2024
2
1
1
4|2023
2
2
2|
|---|---|---|
|||6|
No employees received emoluments in excess of £60,000.
## **12.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
135,931
**Charitable activities**
Professional performances
30,103
Youth Theatre
3,328
Outreach & education
30,386
Other trading activities
720
Investment income
172
**Total**
200,640|Restricted
funds
£
220,472
-
-
575
-
-
221,047|Total
funds
£
356,403
30,103
3,328
30,961
720
172|
|---|---|---|
|||421,687|
## **EXPENDITURE ON**
Page 11
continued...
**Prime Theatre**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
|**12.**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**||||
|---|---|---|---|---|---|
|||Unrestricted|Restricted||Total|
|||funds|funds||funds|
|||£|£||£|
||**Charitable activities**|||||
||Professional performances|60,867|-||60,867|
||Youth Theatre|43,296|6,218||49,514|
||Outreach & education|83,759|133,334||217,093|
||**Total**|187,922|139,552||327,474|
||**NET INCOME**|12,718|81,495||94,213|
||**Transfers between funds**|99,036|(99,036)||-|
||**Net movement in funds**|111,754|(17,541)||94,213|
||**RECONCILIATION OF FUNDS**|||||
||Total funds brought forward|219,817|104,033||323,850|
||**TOTAL FUNDS CARRIED FORWARD**|331,571|86,492||418,063|
|**13.**|**GOVERNMENT GRANT INCOME**|||||
|||2024|||2023|
||||£||£|
||Arts Council England|217,555|||195,055|
||Swindon Borough Council||19,300||19,300|
||There were no unfulfilled conditions or other contingencies attached to these grants.||The charity has not directly|||
||benefited from any other forms of government assistance.|||||
## **14. TANGIBLE FIXED ASSETS**
|**COST**
At 1 April 2023
Additions
At 31 March 2024
**DEPRECIATION**
At 1 April 2023
Charge for year
At 31 March 2024
**NET BOOK VALUE**
At 31 March 2024
At 31 March 2023|Stage and
office
equipment
£
170,853
3,879
174,732
74,505
26,038
100,543
74,189
96,348|Motor
vehicles
£
36,200
-
36,200
4,380
7,240
11,620
24,580
31,820|Totals
£
207,053
3,879|
|---|---|---|---|
||||210,932|
||||78,885
33,278|
||||112,163|
||||98,769|
||||128,168|
Page 12
continued...
**Prime Theatre**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
## **15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Trade debtors
Other debtors
VAT
Prepayments and accrued income
**16.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Social security and other taxes
Accrued expenses
**17.**
**ANALYSIS OF NET ASSETS BETWEEN FUNDS**
Unrestricted
funds
£
Fixed assets
98,769
Current assets
275,265
Current liabilities
(20,770)
353,264
**18.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
Designated fund - core costs and
redundancy costs
Designated fund - Emergency replacement
of equipment and programming
contingency
**Restricted funds**
Inclusive Youth Theatre - Children in Need
Wiltshire Community Foundation
Young leaders
Youth Wellbeing Officer - Postcode lottery
Listening fund
Youth Wellbeing Officer - TNL Community
Fund
ACE English Youth Theatre Census
GWR Community Fund
**TOTAL FUNDS**|Restricted
funds
£
-
148,063
-
148,063
At 1.4.23
£
241,571
75,000
15,000
331,571
7,081
-
3,811
25,000
41,000
9,600
-
-
86,492
418,063||
|---|---|---|
||||
Page 13
continued...
**Prime Theatre**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
## **18. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Designated fund - Emergency replacement
of equipment and programming
contingency
**Restricted funds**
Inclusive Youth Theatre - Children in Need
Wiltshire Community Foundation
Young leaders
Youth Wellbeing Officer - Postcode lottery
Listening fund
Town Gardens project
Youth Wellbeing Officer - TNL Community
Fund
ACE English Youth Theatre Census
British Museum
GWR Community Fund
**TOTAL FUNDS**|Incoming
resources
£
278,493
-
278,493
14,761
4,975
5,000
-
41,000
6,368
-
10,000
5,460
51,250
138,814
417,307|Resources
Movement
expended
in funds
£
£
(249,356)
29,137
(7,444)
(7,444)
(256,800)
21,693
(6,452)
8,309
-
4,975
(1,754)
3,246
(25,000)
(25,000)
(17,171)
23,829
(6,368)
-
(9,600)
(9,600)
(2,000)
8,000
(5,460)
-
(3,438)
47,812
(77,243)
61,571
(334,043)
83,264|
|---|---|---|
Page 14
continued...
**Prime Theatre**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
## **18. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
Designated fund - core costs and
redundancy costs
Designated fund - Emergency replacement
of equipment and programming
contingency
**Restricted funds**
Inclusive Youth Theatre - Children in Need
Science Project
Teacher Development
Windrush
Safer Streets
Rock around the rocks
4Nations
Young leaders
Creative Arts
Youth Wellbeing Officer - Postcode lottery
Listening fund
Capital grant
Youth Wellbeing Officer - TNL Community
Fund
**TOTAL FUNDS**|At 1.4.22
£
129,817
75,000
15,000
219,817
3,138
16,175
25,235
-
25,500
7,475
4,500
4,250
17,760
-
-
-
-
104,033
323,850|Net
movement
in funds
£
12,718
-
-
12,718
3,943
(16,175)
(25,235)
(6,464)
(25,500)
(7,475)
(4,500)
(439)
(17,760)
25,000
41,000
105,500
9,600
81,495
94,213|Transfers
between
funds
£
99,036
-
-
99,036
-
-
-
6,464
-
-
-
-
-
-
-
(105,500)
-
(99,036)
-|At
31.3.23
£
241,571
75,000
15,000|
|---|---|---|---|---|
|||||331,571
7,081
-
-
-
-
-
-
3,811
-
25,000
41,000
-
9,600|
|||||86,492|
|||||418,063|
Page 15
continued...
**Prime Theatre**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
## **18. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
RTYDS
Inclusive Youth Theatre - Children in Need
Science Project
Teacher Development
Windrush
Safer Streets
Rock around the rocks
4Nations
Young leaders
Creative Arts
Youth Wellbeing Officer - Postcode lottery
Listening fund
Town Gardens project
Capital grant
Youth Wellbeing Officer - TNL Community
Fund
**TOTAL FUNDS**|Incoming
resources
£
200,640
6,000
9,722
-
575
14,650
-
-
-
-
-
25,000
41,000
9,000
105,500
9,600
221,047
421,687|Resources
Movement
expended
in funds
£
£
(187,922)
12,718
(6,000)
-
(5,779)
3,943
(16,175)
(16,175)
(25,810)
(25,235)
(21,114)
(6,464)
(25,500)
(25,500)
(7,475)
(7,475)
(4,500)
(4,500)
(439)
(439)
(17,760)
(17,760)
-
25,000
-
41,000
(9,000)
-
-
105,500
-
9,600
(139,552)
81,495
(327,474)
94,213|
|---|---|---|
Designated funds:
Core costs and redundancy costs - a fund has been set up to designate 3 months of core costs plus redundancy costs.
Emergency replacement of equipment and programming contingency - a fund has been set up to designate . costs for the emergency replacement of equipment and programming contingency.
Restricted funds:
Youth theatre - various donations received to help young people take part in youth theatre including funding from Children in Need for inclusive youth theatre.
Science project - a Wiltshire Community Foundation grant to fund the animation of Science & Engineering in Swindon schools
Teacher development - funding from Paul Hamlyn Foundation
Windrush - Funding for Windrush day events
Creative Arts - Funding for the Creative Arts Programme for young people to engage with creative arts.
Safer Streets - Funding for SBC violence against women film project
Rock around the rocks- Funding for Larkhill Military covenant community project at Stonehenge
4Nations - Funding for Queer Young People Writing project
Capital grant - funding from Arts Council for the purchase of high quality, environmentally sustainable technical/digital equipment & second-hand van for combined Arts Award workshops & resources across the county to key areas & those with physical disabilities.
Youth Wellbeing Officer - Funding from TNL Community fund & Postcode Lottery for a new Youth Wellbeing Officer to give mental health support to Young People across our projects
Page 16
continued...
**Prime Theatre**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
## **18. MOVEMENT IN FUNDS - continued**
Listening Fund - Funding to creative leadership opportunities for young people within the creative sector
Town Gardens Project - Funding from South Swindon Parish Council for events & food in the Town Gardens for those within their priority groups
RTYDS - Funding for wages of a 3 month placement for young Director
## **19. EMPLOYEE BENEFIT OBLIGATIONS**
The charity operates a defined benefit pension scheme. The costs for the period was £2,733 (2023: £2,660). At 31 March 2024, overpaid contributions of £1,748 were due to be refunded (2023: £474 contributions payable).
## **20. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 March 2024.
Page 17