**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: 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. 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