REGISTERED COMPANY NUMBER: 01371275 (England and Wales) REGISTERED CHARITY NUMBER: 507772
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31st May 2021
for
Daneside Community Theatre Trust Limited T/A Daneside Theatre
Hammond McNulty LLP Bank House Market Square Congleton Cheshire CW12 1ET
Daneside Community Theatre Trust Limited T/A Daneside Theatre
Contents of the Financial Statements for the Year Ended 31st May 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | to | 6 |
| Notes to the Financial Statements | 7 | to | 12 |
Daneside Community Theatre Trust Limited (Registered number: 01371275) T/A Daneside Theatre
Report of the Trustees for the Year Ended 31st May 2021
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 31st May 2021. 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
The charity's objective and its principal activity continues to be that of the promotion, maintenance, improvement and advancement of education in the Borough of Congleton by means of the provision of a theatre.
Public benefit
The Trustees have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities
ACHIEVEMENT AND PERFORMANCE
Charitable Activities
The Theatre was closed, due to the Coronavirus Pandemic, for most of the financial year. We re-opened under Covid restrictions on the 23rd and 30th May 2021 for Films. There have been no shows, amateur or professional, during this financial year.
The Studios were closed for most of the financial year and only re-opened when Covid restrictions would allow in September, October, November, and December 2020and then again in April and May 2021.
However, we have been fortunate in receiving the following grants and donations to help with the ongoing costs during the time the Theatre is closed.
Cheshire East Council Government Covid Grant = £19,370.43 Congleton Town Council = £1,500.00 Donation - Ice Rink = £4,000.00 Individual Donations = £460.00
We have taken the opportunity, while the Theatre and Studios have been closed, to carry out maintenance work, redecoration, and deep cleaning.
The Theatre has purchased a new Film Projector and Screen which will allow us to show up-to-date films more regularly.
We would like to thank everyone for their continued support during this time and look forward to when the Government advice is that Theatres can reopen and a successful season in 2021/2022 can be had by all.
FINANCIAL REVIEW
Reserves policy
The trust holds surplus capital on deposit with UK bank and building societies. It is not the Trust's policy to take investment risks any accumulated funds will be held in deposit accounts offering best terms.
On 31st May 2021, the charity held reserves of £714,376 of this £650,971 is held in fixed assets leaving £63,405. The amount the Trust has determined should be the minimum held as reserve is £50,000. There should be sufficient funds available to ensure we have 24 months to cover our outgoings and to protect the Trust against unexpected high costs. This could be a business continuation issue due to flood or fire, or an urgent repair bill for any part of the building or the building infrastructure.
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.
Page 1
Daneside Community Theatre Trust Limited (Registered number: 01371275) T/A Daneside Theatre
Report of the Trustees for the Year Ended 31st May 2021
The trust was incorporated on 31st May, 1978 and registered as a charity on 14th July, 1978. The company was established under Memorandum of association which established the objects and powers of the charitable company.
The liability of full members of the society is an undertaking to contribute to the assets of the Trust in the event of it being wound up while a member, or within one year after ceasing to be a member, a sum not exceeding one pound.
Recruitment and appointment of new trustees
New Trustees are appointed from theatre groups, friends of the theatre and members. The Trustees retire by rotation, any Trustee offering themselves up for re-election, or a new person wishing to become a Trustee are voted onto the Trust at the AGM by the members of the Company.
Organisational structure
The trustees meet regularly to discuss progress and formulate strategies.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
01371275 (England and Wales)
Registered Charity number
507772
Registered office
Daneside Theatre Trust Ltd Park Road Congleton Cheshire CW12 1DP
Trustees
A J Millington Chairman Mrs L F Lee Secretary Mrs C Garber Treasurer A N Bours Vice Chairman P M Drage Mrs V Dorgan Booking Manager Mrs A S Bradley
Company Secretary
Mrs L F Lee
Independent Examiner
Hammond McNulty LLP Bank House Market Square Congleton Cheshire CW12 1ET
Approved by order of the board of trustees on 19th November 2021 and signed on its behalf by:
A J Millington - Trustee
Page 2
Independent Examiner's Report to the Trustees of Daneside Community Theatre Trust Limited
Independent examiner's report to the trustees of Daneside Community Theatre Trust Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st May 2021.
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
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:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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
-
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.
Colin Higginson FMAAT ACCA Hammond McNulty LLP Bank House Market Square Congleton Cheshire CW12 1ET
26th November 2021
Page 3
Daneside Community Theatre Trust Limited T/A Daneside Theatre
Statement of Financial Activities for the Year Ended 31st May 2021
| 31/5/21 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 25,332 Charitable activities Theatre provision 1,010 Other trading activities 3 133 Investment income 4 944 Total 27,419 EXPENDITURE ON Raising funds 5 7,967 Charitable activities Theatre provision 21,824 Other 15,248 Total 45,039 NET INCOME/(EXPENDITURE) (17,620) RECONCILIATION OF FUNDS Total funds brought forward 736,052 TOTAL FUNDS CARRIED FORWARD 718,432 |
31/5/20 Total funds £ 11,859 53,817 25,871 102 |
|---|---|
| 91,649 13,398 53,304 8,407 |
|
| 75,109 | |
| 16,540 719,512 |
|
| 736,052 |
The notes form part of these financial statements
Page 4
Daneside Community Theatre Trust Limited (Registered number: 01371275) T/A Daneside Theatre
Balance Sheet
31st May 2021
| Notes FIXED ASSETS Tangible assets 9 CURRENT ASSETS Stocks 10 Debtors 11 Cash at bank and in hand CREDITORS Amounts falling due within one year 12 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 13 Unrestricted funds TOTAL FUNDS |
31/5/21 Unrestricted fund £ 650,971 725 2,138 69,369 72,232 (4,771) 67,461 718,432 718,432 718,432 718,432 |
31/5/20 Total funds £ 620,545 2,118 6,398 109,266 117,782 (2,275) 115,507 736,052 736,052 736,052 736,052 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2021 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.
The notes form part of these financial statements
Page 5
continued...
Daneside Community Theatre Trust Limited (Registered number: 01371275) T/A Daneside Theatre
Balance Sheet - continued
31st May 2021
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 19th November 2021 and were signed on its behalf by:
A J Millington - Trustee
The notes form part of these financial statements
Page 6
Daneside Community Theatre Trust Limited T/A Daneside Theatre
Notes to the Financial Statements
for the Year Ended 31st May 2021
1. 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.
Going Concern
The trustees have considered the potential impact of COVID-19 on the principal activities of the charity and they believe that they have sufficient resources in place to operate for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the financial statements.
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.
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.
Freehold property - in accordance with the property Fixtures and fittings - 10% on reducing balance
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
continued...
Page 7
Daneside Community Theatre Trust Limited T/A Daneside Theatre
Notes to the Financial Statements - continued for the Year Ended 31st May 2021
2. DONATIONS AND LEGACIES
| DONATIONS AND LEGACIES | ||
|---|---|---|
| 31/5/21 | 31/5/20 | |
| £ | £ | |
| Donations | 4,462 | 1,859 |
| Grants | 20,870 | 10,000 |
| 25,332 | 11,859 |
Income from government grants were for Covid-19 related support therefore automatically met performance requirements.
Grants received, included in the above, are as follows:
| 31/5/21 | 31/5/20 | ||
|---|---|---|---|
| £ | £ | ||
| Cheshire East Council | 19,370 | 10,000 | |
| Congleton Town Council | 1,500 | - | |
| 20,870 | 10,000 | ||
| 3. | OTHER TRADING ACTIVITIES | ||
| 31/5/21 | 31/5/20 | ||
| £ | £ | ||
| Bar takings | 133 | 25,871 | |
| 4. | INVESTMENT INCOME | ||
| 31/5/21 | 31/5/20 | ||
| £ | £ | ||
| Deposit account interest | 944 | 102 | |
| 5. | RAISING FUNDS | ||
| Investment management costs | |||
| 31/5/21 | 31/5/20 | ||
| £ | £ | ||
| Depreciation | 6,430 | 3,049 | |
| 6. | NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | |||
| 31/5/21 | 31/5/20 | ||
| £ | £ | ||
| Depreciation - owned assets | 6,429 | 3,050 | |
| Hire of plant and machinery | 110 | - |
continued...
Page 8
Daneside Community Theatre Trust Limited T/A Daneside Theatre
Notes to the Financial Statements - continued for the Year Ended 31st May 2021
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st May 2021 nor for the year ended 31st May 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st May 2021 nor for the year ended 31st May 2020.
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 11,859 |
| Charitable activities | |
| Theatre provision | 53,817 |
| Other trading activities | 25,871 |
| Investment income | 102 |
| Total | 91,649 |
| EXPENDITURE ON | |
| Raising funds | 13,398 |
| Charitable activities | |
| Theatre provision | 53,304 |
| Other | 8,407 |
| Total | 75,109 |
| NET INCOME | 16,540 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 719,512 |
| TOTAL FUNDS CARRIED FORWARD | 736,052 |
continued...
Page 9
Daneside Community Theatre Trust Limited T/A Daneside Theatre
Notes to the Financial Statements - continued for the Year Ended 31st May 2021
9. TANGIBLE FIXED ASSETS
| COST At 1st June 2020 Additions At 31st May 2021 DEPRECIATION At 1st June 2020 Charge for year At 31st May 2021 NET BOOK VALUE At 31st May 2021 At 31st May 2020 Individual fixed assets costing £100 or more are capitalised at cost. 10. STOCKS Stocks 11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Prepayments |
Freehold property £ 624,666 - 624,666 31,564 - 31,564 593,102 593,102 |
Fixtures and fittings £ 139,620 36,855 176,475 112,177 6,429 118,606 57,869 27,443 31/5/21 £ 725 31/5/21 £ (1,081) 3,219 2,138 |
Totals £ 764,286 36,855 |
Totals £ 764,286 36,855 |
|---|---|---|---|---|
| 801,141 | ||||
| 143,741 6,429 |
||||
| 150,170 | ||||
| 650,971 | ||||
| 620,545 | ||||
| 31/5/20 £ 2,118 31/5/20 £ 3,455 2,943 6,398 |
||||
| 6,398 |
continued...
Page 10
Daneside Community Theatre Trust Limited T/A Daneside Theatre
Notes to the Financial Statements - continued for the Year Ended 31st May 2021
| 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Accrued expenses 13. MOVEMENT IN FUNDS At 1/6/20 £ Unrestricted funds General fund 736,052 TOTAL FUNDS 736,052 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 27,419 TOTAL FUNDS 27,419 Comparatives for movement in funds At 1/6/19 £ Unrestricted funds General fund 719,512 TOTAL FUNDS 719,512 |
31/5/21 31/5/20 £ £ 3,910 (533) 861 2,808 4,771 2,275 Net movement At in funds 31/5/21 £ £ (17,620) 718,432 (17,620) 718,432 Resources Movement expended in funds £ £ (45,039) (17,620) (45,039) (17,620) Net movement At in funds 31/5/20 £ £ 16,540 736,052 16,540 736,052 |
|---|---|
continued...
Page 11
Daneside Community Theatre Trust Limited T/A Daneside Theatre
Notes to the Financial Statements - continued for the Year Ended 31st May 2021
13. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 91,649 | (75,109) | 16,540 |
| TOTAL FUNDS | 91,649 | (75,109) | 16,540 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1/6/19 £ 719,512 719,512 |
Net movement in funds £ (1,080) (1,080) |
At 31/5/21 £ 718,432 |
|---|---|---|---|
| 718,432 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 119,068 | (120,148) | (1,080) |
| TOTAL FUNDS | 119,068 | (120,148) | (1,080) |
14. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st May 2021.
Page 12