Company registration number: 01491513 Charity registration number: 510316
## Banner Theatre Company Ltd
(A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 31 March 2022
Bissell & Brown Birmingham Ltd 12 Portman Rd Kings Heath Birmingham B13 0SL
## **Banner Theatre Company Ltd**
## **Contents**
|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2 to 4|
|Independent Examiner's Report|5|
|Statement of Financial Activities|6|
|Balance Sheet|7|
|Notes to the Financial Statements|8 to 13|
## **Banner Theatre Company Ltd**
## **Reference and Administrative Details**
**Trustees** Timothy Hollins Maureen Russell Muktar Dar Raj Pal Helena France **Charity Registration Number** 510316 **Company Registration Number** 01491513 The charity is incorporated in England. **Registered Office** Unit 1, Izons Industrial Estate Oldbury Rd West Bromwich B70 9BS **Independent Examiner** Bissell & Brown Birmingham Ltd 12 Portman Rd Kings Heath Birmingham B13 0SL
Page 1
## **Banner Theatre Company Ltd**
## **Trustees' Report**
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2022.
## **Objectives and activities**
## _**Objects and aims**_
1) The promotion of education in music, drama and visual arts amongst the community
2) To provide facilities inthe interests of social welfare for the recreation and other leisure time occupation with the object of improving the condtions of life for the persons for whom such facilities are primarily intended.
## _**Objectives, strategies and activities**_
The year began and ended very much like the previous year, with the pandemic still stopping us touring and performing live. So, just like last year, we continued to work with communities and campaigns to produce 8 online video ballads. Most notable amongst these were ‘Enough is Enough’ (in support of the nurses and the NHS) and ‘The Midwives Song’.
Some income was generated through 5 pre-recorded programmes for online May Day events for a range of trade union and trades council bookers. We also produced our own 2-hour long International May Day online event which featured musicians, singers, theatre companies and cultural workers from the USA, El Salvador, Puerto Rico, Mexico, Canada, Columbia, and Chile, interwoven with video-ballads from Banner Theatre and a short video documentary from Reel News. Total audience reach was circa 15,000.
Towards the end of the year, we were commissioned by TSSA to produce several video ballads to celebrate their 125th Anniversary due to take place in May 2022.
We also went into the studio to start recording a new CD ‘Enough is Enough” which included songs relating to the NHS and several other new songs. The CD will be released next year.
With the help of the ACE Emergency grant in 20/21 we continued to strengthen key organisational elements, including out marketing and touring capabilities, thus building a strong foundation for the future.
## **Financial review**
Financial Review
Despite the lack of touring income, we still managed to generate an aggregate income of £28.428 from fees, donations, grants and commissions. Our expenditure was £22,638.
## _**Public benefit**_
Developing communicty theatre productions based on interviews with disadvantaged communities, touring these productions throughout the country, amd running workshops using materials based on the productions.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
## **Trustees and officers**
The trustees and officers serving during the year and since the year end were as follows:
Page 2
## **Banner Theatre Company Ltd**
## **Trustees' Report**
Trustees:
Timothy Hollins Maureen Russell Muktar Dar Raj Pal Helena France
## **Structure, governance and management**
## _**Nature of governing document**_
Memorandum and Articles of Association incorporated 17th April 1980.
## _**Organisational structure**_
Organisational structure
Administrative personnel
Stuart Brown: part-time administrator - marketing, funding, project planning and tour organising Jacqueline Contré: funding, marketing and project planning support (voluntary) Dave Rogers: funding and project planning support (voluntary) Helena France: bookkeeper (voluntary)
## Creative and Performance Team
Dave Rogers: artistic director, performer/musician, songwriter, musical development Dean Whiskens: visual/technical manager, touring technician Vince Pryce: performer/musician, workshop facilitator, musical development Rosie Cartlidge: performer/musician, musical development John Sanderson: performer/musician, musical development Mike Bethel: performer/musician, musical development Antonia Darder: songwriting support and visual development
Governance
At our 2021 AGM all the existing Trustees were re-elected onto our Management Committee.
## Thanks
As always, many thanks and congratulations are due to all the company, trustees, volunteers, collaborators and supporters for their unstinting work and dedication.
## **Statement of Trustees' Responsibilities**
The trustees (who are also the directors of Banner Theatre Company Ltd for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
Page 3
## **Banner Theatre Company Ltd**
## **Trustees' Report**
- select suitable accounting policies and apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... Helena France Trustee
Page 4
## **Banner Theatre Company Ltd**
## **Independent Examiner's Report to the trustees of Banner Theatre Company Ltd ("the Company")**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022.
## **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 Banner Theatre Company Ltd 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 Banner Theatre Company Ltd 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.
......................................
12 Portman Rd Kings Heath Birmingham B13 0SL
Date:.............................
Page 5
## **Banner Theatre Company Ltd**
## **Statement of Financial Activities for the Year Ended 31 March 2022 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)**
|**Note**
**Income and Endowments from:**
Donations and legacies
3
Charitable activities
4
Total Income
**Expenditure on:**
Charitable activities
5
Total Expenditure
Net income/(expenditure)
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
11|**Unrestricted**
**£**
21,272
6,135
27,407
(18,943)
(18,943)
8,464
8,464
11,067
19,531|**Restricted**
**£**
-
1,021
1,021
(3,695)
(3,695)
(2,674)
(2,674)
2,674
-|**Total**
**2022**
**£**
21,272
7,156
28,428
(22,638)
(22,638)
5,790
5,790
13,741
19,531|**Total**
**2021**
**£**
8,392
11,634|
|---|---|---|---|---|
|||||20,026|
|||||(15,282)|
|||||(15,282)|
|||||4,744|
|||||4,744
8,997|
|||||13,741|
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2021 is shown in note 11.
The notes on pages 8 to 13 form an integral part of these financial statements. Page 6
## **Banner Theatre Company Ltd**
## **(Registration number: 01491513) Balance Sheet as at 31 March 2022**
|**Note**
**Current assets**
Cash at bank and in hand
9
**Creditors: Amounts falling due within one year**
10
**Net assets**
**Funds of the charity:**
**Restricted income funds**
Restricted funds
11
**Unrestricted income funds**
Unrestricted funds
**Total funds**
11|**2022**
**£**
20,131
(600)
19,531
-
19,531
19,531|**2021**
**£**
14,316
(575)|
|---|---|---|
|||13,741|
|||2,674
11,067|
|||13,741|
For the financial year ending 31 March 2022 the charity 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 charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The financial statements on pages 6 to 13 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:
......................................... Helena France Trustee
The notes on pages 8 to 13 form an integral part of these financial statements. Page 7
## **Banner Theatre Company Ltd**
## **Notes to the Financial Statements for the Year Ended 31 March 2022**
## **1 Charity status**
The charity is limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
The address of its registered office is: Unit 1, Izons Industrial Estate Oldbury Rd West Bromwich B70 9BS
Authorised for issue date
## **2 Accounting policies**
## **Summary of significant accounting policies and key accounting estimates**
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
## **Statement of compliance**
The financial statements have been prepared in accordance with 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
## **Basis of preparation**
Banner Theatre Company Ltd 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.
## **Going concern**
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
## **Exemption from preparing a cash flow statement**
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
## **Income and endowments**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
## _**Donations and legacies**_
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Page 8
## **Banner Theatre Company Ltd**
## **Notes to the Financial Statements for the Year Ended 31 March 2022**
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
## _**Charitable activities**_
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **Governance costs**
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.
## **Taxation**
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **Tangible fixed assets**
Individual fixed assets costing £500 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
## **Depreciation and amortisation**
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
## **Asset class**
Equipment
**Depreciation method and rate** 33.3% SL
Page 9
## **Banner Theatre Company Ltd**
## **Notes to the Financial Statements for the Year Ended 31 March 2022**
## **Foreign exchange**
Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date.
The results of overseas operations are translated at the average rates of exchange during the period and their balance sheets at the rates ruling at the balance sheet date. Exchange differences arising on translation of the opening net assets and results of overseas operations are reported in other comprehensive income and accumulated in equity (attributed to non-controlling interests as appropriate).
Other exchange differences are recognised in the Statement of Financial Activities in the period in which they arise except for:
1) exchange differences on transactions entered into to hedge certain foreign currency risks (see above);
2) exchange differences arising on gains or losses on non-monetary items which are recognised in other comprehensive income; and
3) in the case of the consolidated financial statements, exchange differences on monetary items receivable from or payable to a foreign operation for which settlement is neither planned nor likely to occur (therefore forming part of the net investment in the foreign operation), which are recognised in other comprehensive income and reported under equity.
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
## **3 Income from donations and legacies**
|Donations and legacies;
Donations from individuals and unions
Donations and legacies;
Donations from individuals and unions|**Unrestricted**
**funds**
**General**
**£**
21,272
21,272
**Unrestricted**
**funds**
**General**
**£**
8,392
8,392|**Total**
**2022**
**£**
21,272|
|---|---|---|
|||21,272|
|||**Total**
**2021**
**£**
8,392|
|||8,392|
Page 10
## **Banner Theatre Company Ltd**
## **Notes to the Financial Statements for the Year Ended 31 March 2022**
## **4 Income from charitable activities**
|Arts Council Emergency fund
Earned income from performances
Hires/CD Sales
Arts Council Emergency fund
Earned income from performances
Hires/CD Sales|**Unrestricted**
**funds**
**General**
**£**
-
5,610
525
6,135
**Unrestricted**
**funds**
**General**
**£**
-
1,950
490
2,440|**Restricted**
**funds**
**£**
1,021
-
-
1,021
**Restricted**
**funds**
**£**
9,194
-
-
9,194|**Total**
**2022**
**£**
1,021
5,610
525|
|---|---|---|---|
||||7,156|
||||**Total**
**2021**
**£**
9,194
1,950
490|
||||11,634|
## **5 Expenditure on charitable activities**
|Production costs & multi-media
Fees for performers, directors & writers
Project print & publicity
Admin & development
Depreciation
Rent, rates & insurance
Room hire
Telephone & computer
Printing, postage & stationery
Travel & motor
Bank charges
Accountancy & legal|**Unrestricted**
**funds**
**General**
**£**
7,328
5,939
400
2,352
-
(561)
196
1,939
-
643
106
600
18,942|**Restricted**
**funds**
**£**
-
-
-
3,995
-
-
-
-
-
-
-
-
3,995|**Total**
**2022**
**£**
7,328
5,939
400
6,347
-
(561)
196
1,939
-
643
106
600
22,937|**Total**
**2021**
**£**
4,248
4,020
750
2,005
250
797
-
790
19
1,751
75
577|
|---|---|---|---|---|
|||||15,282|
## **6 Trustees remuneration and expenses**
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. No trustees have received any reimbursed expenses from the charity during the year.
Page 11
## **Banner Theatre Company Ltd**
## **Notes to the Financial Statements for the Year Ended 31 March 2022**
## **7 Taxation**
The charity is a registered charity and is therefore exempt from taxation.
## **8 Tangible fixed assets**
|**Cost**
At 1 April 2021
At 31 March 2022
**Depreciation**
At 1 April 2021
At 31 March 2022
**Net book value**
At 31 March 2022
At 31 March 2021
**9**
**Cash and cash equivalents**
Cash on hand
Cash at bank
**10 Creditors: amounts falling due within one**
Accruals
**11 Funds**
**Unrestricted funds**
**_General_**
Unrestricted
**Restricted funds**
Arts Council
**Total funds**|**year**
**Balance at 1**
**April 2021**
**£**
11,067
2,674
13,741|**Incoming**
**resources**
**£**
27,407
1,021
28,428||**Furniture and**
**equipment**
**£**
3,504
3,504
3,504
3,504
-
-
**2022**
**£**
17
20,114
20,131
**2022**
**£**
600
**Resources**
**expended**
**£**
(18,943)
(3,695)
(22,638)|**Furniture and**
**equipment**
**£**
3,504
3,504
3,504
3,504
-
-
**2022**
**£**
17
20,114
20,131
**2022**
**£**
600
**Resources**
**expended**
**£**
(18,943)
(3,695)
(22,638)|**Total**
**£**
3,504
3,504
3,504
3,504
-
-
**2021**
**£**
17
14,299|
|---|---|---|---|---|---|---|
|||||3,504|||
|||||3,504|||
|||||3,504|||
|||||-|||
|||||-|||
|||||**2022**
**£**
17
20,114
20,131
**2022**
**£**
600
**Resources**
**expended**
**£**
(18,943)
(3,695)
(22,638)|||
|||||||14,316|
|||||||**2021**
**£**
575|
|||||||**Balance at 31**
**March 2022**
**£**
19,531
-|
|||||||19,531|
Page 12
## **Banner Theatre Company Ltd**
## **Notes to the Financial Statements for the Year Ended 31 March 2022**
|**Unrestricted funds**
**_General_**
Unrestricted
**Restricted**
Arts Council
**Total funds**|**Balance at 1**
**April 2020**
**£**
8,997
-
8,997|**Incoming**
**resources**
**£**
10,832
9,194
20,026|**Resources**
**expended**
**£**
(8,762)
(6,520)
(15,282)|**Balance at 31**
**March 2021**
**£**
11,067
2,674|
|---|---|---|---|---|
|||||13,741|
Page 13