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2021-12-31-accounts

BRETFORTON THEATRE (A Company Limited by Guarantee)

ANNUAL REPORT AND FINANCIAL STATEMENTS

31 December 2021

Charity no: 510625 Company no: 01481033

BRETFORTON THEATRE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

CONTENTS

Page
STATUTORY INFORMATION 1
REPORT OF THE TRUSTEES 2 - 5
INDEPENDENT AUDITOR’S REPORT 6 - 8
STATEMENT OF FINANCIAL ACTIVITIES 9
BALANCE SHEET 10
STATEMENT OF CASH FLOW 11
NOTES TO THE FINANCIAL STATEMENTS 12 - 17

BRETFORTON THEATRE STATUTORY INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2021

Principal Address and Registered Office

Bretforton Grange Bretforton Evesham Worcestershire WR11 7JF

Registered Charity Number 510625

Company Number 01481033

Registered Auditors

Hazlewoods LLP Staverton Court Staverton Cheltenham GL51 0UX

Bankers

Lloyds TSB Bank Plc 19 High Street Evesham Worcestershire WR11 4DQ

CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ

Investment Managers

Richard Fowler Raymond James Investment Services Kestrel Court Waterwells Drive Gloucester GL2 2AT

Ian Burrows Brewin Dolphin Limited 12 Smithfield Street London EC1A 9BD

Trustees

A Welch – Chair – resigned on 28 April 2022 E Talbot – Company Secretary – resigned on 25 April 2022 D Dale – Treasurer R Hayfield - resigned on 21 July 2022 C Verboom E Heathcote-James – appointed on 28 April 2022 K Buckham – appointed on 21 July 2022

Key Management Personnel

These are deemed to be the Trustees as detailed above

1

BRETFORTON THEATRE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

The Trustees present their report along with the financial statements of the Charity for the year ended 31 December 2021.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements, and comply with the Charity's governing document, applicable law and Statement of Recommended Practice: Accounting and Reporting by Charities preparing their financial statements in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS102) effective 1 January 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102).

Structure, governance and management governing document

The Charity is a company limited by guarantee and does not have share capital. The company was incorporated on 22 February 1980 and was registered as a charity on 4 November 1980. The Charity is registered with the Charity Commission and is a company incorporated in England and Wales and it is governed by the Articles of Association.

Reference and administrative details

Details of the address of the principal office of the Charity, the Charity registration number and the names and addresses of any other relevant organisations providing banking services or professional advice to the Charity are shown on page 1.

Objectives and aims

The principal activities of the Charity are:

The Directors have considered the Charity Commission's guidance on public benefit, including the guidance "public benefit: running a charity (PB2)”. The Theatre relies on benefactor donations, the income generated therefrom, and, income from ticket sales to cover its operating costs. Affordability and access to our programme is important to us and is reflected in our pricing policy.

Significant activities

The Theatre was closed for part of the year ended 31 December 2020 in compliance with Covid-19 restrictions. Activities during the rest of 2021 were severely curtailed but a limited number of performances and community based activities were possible.

Financial review

The net income for the year was £158,856 (2020: net expenditure of £644,117) which will be carried forward to increase reserves, which at the end of December 2021 stood at £8,581,076 (2020: £8,422,220). Improvements were carried out in 2021 and a limited number in 2022 have been budgeted for. For 2023 it is planned for more significant improvements, especially for the benefit of disabled patrons, to be carried out but these will require grants and donations being successfully being applied for.

Fundraising

The Charity relies on benefactor donations income from ticket sales and investment income from previous donations.

2

BRETFORTON THEATRE REPORT OF THE TRUSTEES (Continued) FOR THE YEAR ENDED 31 DECEMBER 2021

Going Concern

The Trustees have reviewed the financial statements as well as the charity’s budgets, plans for 2021 and beyond and its reserves position up to the date of signing off these financial statements. The Trustees are fully confident that the charity should be considered as a going concern.

Investment policy

The Trustees seek to invest across a range of assets and risk profiles to suit the different investment requirements. The precise asset range, distribution and allocation will be left to the investment managers to decide, based on an agreed assessment of the Charity’s attitude to risk

The Charity is reliant on donations and income from previous donations invested to finance its operations.. Predominately investment assets are held as reserves. The Trustees aim to build a range of investments designed to ensure the long-term existence of the Charity. Should fundraising begin to decline then income generated from assets managed by the investment managers will be utilized to support the main priority of the Charity for as long as is practical.

Reserves policy

At the end of December 2021, the Charity’s reserves stood at £8,581,076 (2020: £8,422,220), all of which was unrestricted. The increase in reserves is due to realised and unrealised gains on the charity’s investment assets during the year. The Charity aims to retain free reserves sufficient to provide investment returns to fund its core activities.

Future plans

Repairs to The Grange are not now expected to be completed until 2023 at the earliest. Due to the complexities and cost of working on a Grade II listed building the Trustees continue to retain a significant reserve against unforeseen and unbudgeted expenditure. The Trustees plan to install disabled facilities and new lavatories in the Theatrebarn during the course of 2023.For these plans to come to fruition grants and donations will be sought.

Staffing levels will continue to be reviewed. A second employee's start has again been deferred until the need arises and the possible need for a freelance technical ASM kept under review as the number of performances increases.

The impact of COVID-19 on the Charity's plans for 2021 were again profound and, due to the regulations in place, the Trustees had to curtail the 2021 planned season. While socially distancing regulations were in effect no performance could take place with either a meaningful atmosphere or sufficient numbers to give any meaningful prospect of covering costs. To undertake a performance would, during those regulations, in the Trustees’ judgement be a misuse of trust assets.

Plans for 2022 are also proving problematic. There was only limited trading in 2021 and due to the loss of our General Manager and the resignation of two trustees and the Chair, - who was the only Trustee with theatrical experience – both relatively early in 2022 the remaining Trustees took the difficult decision to call a temporary halt to trading. The remaining trustees are pursuing several lines of enquiry with a view to finding both a Chair, new trustees and a General Manager with the required attributes.

As mentioned earlier the opportunity is being taken to strengthen the Board with the appointment of new trustees who will bring strengths and professional experiences that are currently under-represented.

To ensure, as far as possible, that our existing patrons remain engaged, newsletters will be sent out to help ensure they are aware of the constraints placed on the charity so they are ready and willing to re-engage once circumstances change. The charity expects to remain financially viable going forward.

3

BRETFORTON THEATRE REPORT OF THE TRUSTEES (Continued) FOR THE YEAR ENDED 31 DECEMBER 2021

Recruitment and appointment of new Trustees

The Trustees continue to explore possible new board members, mindful that the Trustees now serve time limited terms of office of three years, extendable for a further three years. New Trustees will be briefed on their legal obligations in line with charity, company law and the obligations placed on them by the Articles of Association. The decision-making processes, business plan and recent financial performance of the Charity will also covered.

Organisational structure

Day to day responsibility for the charitable activities was managed by the General Manager who reported to the Trustees during the period of this report. Pending the recruitment of a new General Manager the Trustees take on the day to day responsibility for the Charity.

Principal risks and uncertainties

The major risks identified by the Trustees have been grouped under three headings, reputation, financial and personnel, and it is these three which are considered to be the greatest risks to the Charity. These risks are listed in a register and reviewed on an annual basis by the Board of Trustees.

Pay policy for key management personnel

The Trustees consider that the Board of Trustees comprise the key management personnel of the Charity in charge of directing and controlling, running and operating the Charity. All Trustees give of their time freely and no Trustee received remuneration in the year. Details of related party transactions are disclosed in note 13 to the financial statements.

Volunteers

The volunteer contributions to performance evenings are greatly appreciated helping as they do to ensuring both front (such as sale of programmes, refreshments, and helping with car parking) and back of house (helping the performers) activities are carried out smoothly. These help to enhance the patrons’ experience and take place over a few hours on performance evenings only.

4

FOR THEYEAR ENDED 31 DECEII8ER2021

BRETFORTON THEATRE INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS FOR THE YEAR ENDED 31 DECEMBER 2021

Opinion

We have audited the financial statements of Bretforton Theatre Ltd for the year ended 31 December 2021 which comprise the Statement of Financial Activities, the Charitable Company Balance Sheet, the Statement of Cash Flows and the Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the Financial Reporting Council’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Trustees’ annual report, other than the financial statements and our auditor’s report thereon. The Trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

6

BRETFORTON THEATRE INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS FOR THE YEAR ENDED 31 DECEMBER 2021

Opinion on other matter prescribed by the Companies Act 2006

In our opinion the information given in the Trustees' Annual Report for the financial year for which the financial statements are prepared is consistent with the financial statements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ annual report.

We have nothing to report in respect of the following matters where the Companies Act 2006 and the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the statement of Trustees’ responsibilities set out in the Trustees’ annual report, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

7

BRETFORTON THEATRE INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS FOR THE YEAR ENDED 31 DECEMBER 2021

Auditor’s responsibilities for the audit of the financial statements (continued)

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members and trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company, the charitable company’s members as a body and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

………………………………………………….

Scott Lawrence FCA (Senior Statutory Auditor)

27 October 2022 ………………………… Date

For and on behalf of Hazlewoods LLP, Statutory Auditor Cheltenham

8

BRETFORTON THEATRE STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING SUMMARY INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2021

Unrestricted Unrestricted
Funds Funds
2021 2020
£ £
Note
Income and Endowments from:
Donations and legacies 2 15,374 10,000
Charitable activities 2 21,032 1,982
Investments 2 201,629 173,241
Other income 2 13,399 38
______ _
Total Income 251,434 185,261
______ _
Expenditure on:
Charitable activities 3 (677,305) (882,246)
______ ______
Total Expenditure (677,305) (882,246)
______ ______
NET EXPENDITURE (425,871) (696,985)
Realised gains on investment assets 8 90,297 240,441
Unrealised gains / (losses) on investment assets 8 494,430 (187,573)
______ ______
NET INCOME / (EXPENDITURE) FOR THE YEAR 158,856 (644,117)
Total funds brought forward 8,422,220 9,066,337
_ _
TOTAL FUNDS CARRIED FORWARD 8,581,076
 8,422,220

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

9

A8 AT 31 DECEMBER 2021 iot1216 328.018 1.957 6.(1￿).170 8J39334 7.957236 1• C*h al in haTrJ 261.033 11 (19.191) 241.842 8A81.076 &422220 12 581.076 Bh21220 I<K 10

BRETFORTON THEATRE STATEMENT OF CASH FLOW AS AT 31 DECEMBER 2021

Cash used in operating activities (from below)
Cash flows from investing activities:
Purchases of tangible fixed assets
(Increase) / decrease in value of fixed asset investments
(Decrease)/increase/ in cash and cash equivalents in the
year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
RECONCILIATION OF NET MOVEMENT IN FUNDS TO
NET CASH INFLOW FROM OPERATING ACTIVITIES
Net movement in funds before gains / (losses)
Depreciation of tangible fixed assets
Unrealised gains / (losses) on investments
Realised gains on investments
(Increase) / decrease in stock
Decrease in debtors
(Decrease) / increase in creditors
Net cash used in operating activities		 2021
£
184,774
(92,887)
(327,848)
(235,961)
495,568
259,607
(425,871)
38,737
494,430
90,297
(623)
2,395
(14,591)
184,774		 2020
£
(581,255)
(66,945)
218,654
(429,546)
925,114
495,568
(696,985)
48,421
(187,573)
240,441
143
-
14,298
(581,255)

11

BRETFORTON THEATRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1 ACCOUNTING POLICIES

Basis of preparation of 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 financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2019. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

Company status

Bretforton Theatre is a private company limited by guarantee registered in the United Kingdom. The members of the company are the Trustees named on page 1.

Going Concern

The Trustees have reviewed the financial statements as well as the charity’s budgets, plans for 2022 and beyond and its reserves position up to the date of signing off these financial statements. The Trustees are fully confident that the charity should be considered as a going concern.

Incoming Resources

All income is recognised in the Statement of Financial Activities once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Donations, gifts and legacies represent amounts received during the year, together with any associated tax refund. Gifts in kind for use by the Charity are recognised as incoming resources when receivable at a reasonable estimate of their value.

Legacies are included in the SOFA when receipt is probable, that is, when there has been grant of probate, the executors have established that there are sufficient assets in the estate and any conditions attached to the legacy are either within the control of the charity or have been met.

General unrestricted funds comprise accumulated surpluses and deficits on general activities. They are available for use at the discretion of the Trustees in furtherance of the Charity’s objectives.

At present the Charity has no restricted funds which are subject to specific conditions imposed by the donor.

Resources Expended

Expenditure is recognised once 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. All expenditure have been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributable to particular headings they have been allocated to activities on a basis consistent with the use of resources.

All expenditure is accounted for under the accruals concept. The irrecoverable element of Value Added Tax is included within the item of expense to which it relates.

12

BRETFORTON THEATRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

1 ACCOUNTING POLICIES (CONTINUED)

Interest receivable

Interest is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank.

Tangible fixed assets

Tangible fixed assets costing more than £1,000 are capitalised and included at cost, together with any incidental costs of acquisition. Depreciation is calculated to write off the cost less estimated residual value of tangible assets over their estimated useful lives at the following rates per annum:

Equipment: 20% of written down value

Depreciation is not provided on freehold land and buildings as these are maintained to a standard such that their residual value will not be materially less than cost. Any charge for depreciation would hence be immaterial.

Investments

Fixed asset investments in quoted shares, traded bonds and similar investments are valued at initially at cost and subsequently at fair value (their market value) at the year end. The same treatment is applied to unlisted investments unless fair value cannot be measured reliably in which case it is measured at cost less impairment.

Stock

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

Debtors

Trade and other debtors are recognised at the settlement amount due. Prepayments are recognised at the invoiced cost prepaid.

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, including trade and other debtors and creditors are initially recognised at transaction value and subsequently measured at their settlement value.

13

BRETFORTON THEATRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

1 ACCOUNTING POLICIES (CONTINUED)

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustee in furtherance of the general objectives of the company and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund.

2 INCOMING RESOURCES

Donations and legacies
Covid 19 grant
Income from ticket sales
Income from advanced ticket sales
Dividends on investments
Interest on investments
Other income on investments
Bank interest received
Theatre hire
Wayleave income
BBC filming		 2021
£
15,374
-
15,374
2021
£
21,032
-
21,032
2021
£
182,916
13,330
4,952
431
201,629
2021
£
463
26
12,910
13,399		 2020
£
-
10,000
10,000
2020
£
-
1,982
1,982
2020
£
153,168
18,882
-
1,191
173,241
2020
£
-
38
-
38

Income from charitable activities represents income from the operation of the Theatrebarn. There were no performances in the previous year. Income from investments is bank interest received on the Charity’s bank balances and dividends received from the Charity’s investment portfolio.

14

BRETFORTON THEATRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

3 EXPENDITURE ON CHARITABLE ACTIVITIES

Catering/bar costs
Artist costs
Other direct costs
Insurance
Light & heat
Repairs & maintenance
Telephone & postage
Rent
Wages and salaries
Pension costs
Sundry
Travel
Advertising
Legal & professional fees
Accountancy
Bank charges
Depreciation
Profit on disposal of assets

4
SURPLUS ON ORDINARY ACTIVITIES
Surplus on ordinary activities is stated after charging:
Depreciation of fixed assets
Profit/(loss) on disposal of fixed assets
Auditors’ remuneration		 2021
£
9,072
10,700
3,067
17,304
26,803
431,336
3,780
3,880
39,009
965
2,311
2,986
28,434
52,485
6,006
430
38,737
-
_
677,305
2021
£
38,737
-
5,850		 2020
£
143
-
1,214
15,040
22,603
651,438
4,301
10,740
31,115
750
2,633
3,105
24,066
58,718
7,975
382
48,421
(398)
_
882,246
2020
£
48,421
(398)
-

5 TAX ON SURPLUS ON ORDINARY ACTIVITIES

The Charitable Company is exempt from corporation tax on its charitable activities.

6 STAFF COSTS

STAFF COSTS
2021 2020
£ £
Wages and salaries 39,009 31,115
Pension costs 965 750
_ _
39,974 31,865

The Charitable Company had 1 employee during the year (2020 – 1). Some reliance is therefore placed on volunteers (see Trustees’ Report).

During the year, no employees received emoluments of more than £60,000 (2020: none).

15

BRETFORTON THEATRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

7 TANGIBLE FIXED ASSETS
Freehold
land and
buildings Equipment Total
£ £ £
Cost
At 1 January 2021 1,763,381 324,411 2,087,792
Additions 92,887 - 92,887
Disposals - - -
_ ______ _
At 31 December 2021 1,856,268 324,411 2,180,679
_ ______ _
Depreciation
At 1 January 2021 - 130,726 130,726
Charge for year - 38,737 38,737
Disposals - - -
_____ ______ ______
At 31 December 2021 - 169,463 169,463
_____ ______ ______
Net book value
At 31 December 2021 1,856,268 154,948 2,011,216
At 31 December 2020 1,763,381 193,685 1,957,066
All assets are used for direct charitable purposes.
8
INVESTMENTS
Market value
At 1 January 2021
Additions
Disposal proceeds
Realised gains
Unrealised gains
At 31 December 2021		 Listed
Investments
£
5,947,496
793,726
(1,026,575)
90,297
494,430
6,299,374		 Cash and
settlements
pending
£
52,674
(24,030)
-
-
-
28,644		 Total
£
6,000,170
769,696
(1,026,575)
90,297
494,430
6,328,018

16

BRETFORTON THEATRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

9 STOCK

The stock held at the year end is held for resale.

10
DEBTORS
Other debtors
11
CREDITORS
Accruals and deferred income
Other creditors
12
MOVEMENT IN FUNDS
Unrestricted general funds
Incoming
resources
£
Unrestricted general
funds
251,434		 At 1 January
2021
£
8,422,220
Resources
expended
£
(677,305)		 2021
£
-
-
2021
£
5,700
13,491
19,191
Net
movement
in funds
£
158,856
Gains and
losses
£
584,727		 2020
£
2,395
2,395
2020
£
33,490
292
33,782
At 31
December
2021
£
8,581,076
Movement in
funds
£
158,856

13 TRANSACTIONS WITH TRUSTEES AND RELATED PARTIES

Trustees are not remunerated. They are paid expenses for attending meetings and duties directly related to their duties as Trustee. During the year the Trustees were paid total expenses of £2,986 (2020 - £3,105) for travel and subsistence.

17