Registered number 00464068
The Little Theatre (Gateshead) Limited
## Report and Accounts
31 March 2024
## **The Little Theatre (Gateshead) Limited Report and accounts Contents**
||**Page**|
|---|---|
|Company information|1|
|Trustees' report|2|
|Independent Examiner's Report|5|
|Statement of Financial Activities|6|
|Balance sheet|7|
|Notes to the accounts|8|
## **The Little Theatre (Gateshead) Limited Company Information**
## **Directors and Trustees**
Mr E Collins - Chairman Mrs J Carruthers - Treasurer Mr R Carruthers Mrs S D Clark Mr M Swallow Mrs S Bertie Mr H Pritchard
## **Secretary**
Mrs S D Clark
## **Independent Examiner**
T R Dixon & Co Ltd Chartered Certified Accountants 1 Dinsdale Place Jesmond Tyne & Wear NE8 4JR
## **Registered charity number**
510742
## **Registered office**
Little Theatre Saltwell View Gateshead NE8 4JS
## **Registered number**
00464068
## **Country of incorporation**
England
1
**The Little Theatre (Gateshead) Limited Registered number: 510742 Trustees' Report**
The trustees present their report and accounts for the year ended 31 March 2024 which are prepared to meet the requirements for a directors' report and accounts for Companies Act purposes.
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and 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) .
## **Reference and Administrative Details**
Details concerning the charity number and company number and registered office are disclosed on page 1 of the accounts.
Adopted by special resolution on the 21 May 2023 the name was changed from Little Theatre (Gateshead) Limited (The) to The Little Theatre (Gateshead) Limited.
## **Objectives of the Charity**
The company was established as a charity to promote, maintain, improve and advance education particularly by the production of educational plays and the encouragement of the Arts including the arts of drama, mime, dance, singing and music and to formulate, prepare and establish schemes therefore provided that all objects of the company shall be of a charitable nature.
## **Structure, Governance and Management**
The directors and trustees in office at the date of this report and who served during the year are listed on page 1. Trustees are appointed or reappointed annually at the Annual General Meeting. The directors have no interests in the shares of the company. Trustees receive no benefit for their involvement in the running of the charity.
Adopted by special resolution on the 21 May 2023 the Articles of Assocaition were updated with regulated alterations, by prior writtem consent from the Charities Commission on the 11 January 2023, for ''regulated alterations'' as defined in section 198 of the Charities Act 2011.
The updated Articles of Assocaition mentioned above were filed at Companies House on the 5 July 2023.
## **Summary of the Main Achievements of the Charity during the year**
We have had a very busy year with 10 Progressive Players’ productions and a number of outside hires.
We have managed to find a second slot for The Caprians to use our theatre and welcomed a new group (Starlight Theatre Productions). We continue to get bookings for single night hires by bands. It is gratifying that many re book after having a positive experience in our theatre.
The replacement of many of the old tungsten stage lights with LED lights was completed on schedule.
We are getting more groups who wish to come to our theatre for tours and talks and at least two members regularly go out and give talks to widen make people more aware of the theatre and the work of the Progressive Players.
The Studio has continued to be well used – it hosted rehearsals for a very long hire last year. It was also pressed into action as a yoga studio when Gateshead Leisure Centre closed.
2
## **The Little Theatre (Gateshead) Limited Registered number: 510742 Trustees' Report**
Restricted Income from Trusts and Foundations this year towards the capital scheme listed with the names of the funders.
- Gibson Trust £24,000
- Theatres Trust £5,000
- Charities Trust £1,000
## **Employees and volunteers**
The company employed two part-time caretaker/cleaners during the year and continues to do so. The general volunteers are the members of the Progressive Players, any of whom may be asked to assist in the business of the charity, mainly serving on the licenced bar and selling ice creams.
## **Political and Charitable Donations**
During the year we have made no charitable donations (2023-£0).
3
**The Little Theatre (Gateshead) Limited Registered number: 510742 Trustees' Report**
## **Policy on reserves**
We hold cash at bank and on deposit of £110,852 (2023 - £63,547) of which £6,923 (2023 - £6,923) is regarded as being restricted. The balance of £103,929 (2023 - £56,624 ) is regarded as unrestricted and are held in order to meet any unforeseen expenditure that may occur.
## **Small company provisions**
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
## **Going concern**
There are no material uncertainties regarding the charity's ability to continue for the foreseeable future.
This report was approved by the board on 20 June 2024 and signed by its order.
_J Carruthers_ Mrs J Carruthers Director
4
## **The Little Theatre (Gateshead) Limited Independent Examiner's Report**
## **Independent Examiner's Report to the Trustees**
## **on the accounts of Little Theatre (Gateshead) Limited (The)**
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2024
## **Respective Responsibilities of Trustees and Examiner**
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 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 have not been kept in accordance with section 386 of the Companies Act 2006;
- the accounts do not accord with such records;
- 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 (FRS102)).
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.
…......................................
T R Dixon & Co Ltd Chartered Certified Accountants 1 Dinsdale Place Jesmond Tyne & Wear NE2 1BD
Date:
…..........................................
5
## **The Little Theatre (Gateshead) Limited Statement of Financial Activities for the year ended 31 March 2024**
|**Unrestricted**
**Funds**
**2024**
**£**
**Income**
Sales
41,526
Rent
46,095
Rent - Progressive Players
31,452
Interest on deposit account
208
Donations and contributions
-
**Total incoming resources**
119,281
**Resources Expended**
Cost of sales
24,106
Wages and national insurance
12,716
Accountancy
1,500
Heat, light and water
11,407
Insurance
6,358
Telephone
-
Printing, postage and stationery
50
Repairs and renewals
10,294
Licences
229
Cleaning
1,476
Other legal and professional
1,697
Fundraiser fees
-
Sundry expenses
387
Depreciation
14,885
85,105
**Net income (expenditure) and**
**net movement in funds**
34,176
**Reconciliation of funds**
Total funds brought forward
611,831
Net income/(loss)
34,176
Transfer of funds relating to
LED lighting and rehearsal room project
40,000
**Total funds carried forward**
686,007|**Restricted**
**Funds**
**2024**
**£**
-
-
-
-
40,000
40,000
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
40,000
6,923
40,000
(40,000)
6,923|**Total**
**Funds**
**2024**
**£**
41,526
46,095
31,452
208
40,000
159,281
24,106
12,716
1,500
11,407
6,358
-
50
10,294
229
1,476
1,697
-
387
14,885
85,105
74,176
618,754
74,176
-
692,930|**Unrestricted**
**Funds**
**2023**
**£**
36,449
16,573
29,310
-
-
82,332
17,268
12,520
1,500
9,313
6,008
437
152
17,456
1,176
1,388
6,870
2,705
(55)
14,173
90,911
(8,579)
613,829
(8,579)
6,581
611,831|**Restricted**
**Funds**
**2023**
**£**
-
-
-
-
4,550
4,550
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
4,550
8,954
4,550
(6,581)
6,923|**Total**
**Funds**
**2023**
**£**
36,449
16,573
29,310
-
4,550|
|---|---|---|---|---|---|
||||||86,882|
||||||17,268
12,520
1,500
9,313
6,008
437
152
17,456
1,176
1,388
6,870
-
(55)
14,173|
||||||88,206|
|||||||
||||||(1,324)|
||||||622,783
(4,029)
-|
||||||618,754|
The statement of financial activities includes all gains and losses recognised in the year.
6
## **Little Theatre (Gateshead) Limited (The) Registered number: 00464068 Balance Sheet as at 31 March 2024**
|**Notes**
**Fixed assets**
Tangible assets
4
**Current assets**
Stocks
Debtors and prepayments
5
Cash at bank and in hand
**Creditors: amounts falling due**
**within one year**
6
**Net current assets**
**Total net assets**
**Capital and funds of the charity**
Called up share capital
7
Unrestricted income funds
8
Restricted funds
8
**Total charity share capital and**
**funds**|**2024**
**2023**
**£**
**£**
580,532
552,735
1,800
2,300
5,878
6,330
110,854
63,547
118,532
72,177
(884)
(908)
117,648
71,269
698,180
624,004
5,250
5,250
686,007
611,831
6,923
6,923
698,180
624,004|
|---|---|
|||
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
_E Collins_ E Collins Director
7
**The Little Theatre (Gateshead) Limited Notes to the Accounts for the year ended 31 March 2024**
## **1 Accounting policies**
## _**Basis of preparation**_
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 (FRS 102) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK (FRS 102) and the Companies Act 2006.
## _**Income and recognition policies**_
Income derives from property rental income, bar and ice cream sales, and donations. Items of income are recognised and included in the accounts when all of the following criteria are met:
- The charity has entitlement to The funds.
- Any performance conditions attached to the items of income have been met are fully within the control of the charity.
- There is sufficient certainty that receipt of The income is considered probable.
- The amount can be measured reliably.
## _**Fund accounting**_
Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Restricted funds are funds which the donor has specified are to be solely used for particular areas of the charity's work.
## _**Expenditure**_
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
## _**Tangible fixed assets**_
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at a rate calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Property, plant and machinery 2.5% reducing balance basis
## _**Stocks**_
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
## _**Cash at bank and in hand**_
Cash at bank and in hand includes cash and short term highly liquid investments with immediate access.
8
## **The Little Theatre (Gateshead) Limited Notes to the Accounts for the year ended 31 March 2024**
## _**Debtors**_
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
## _**Creditors**_
Creditors 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.
|**2**
**3 Operating profit**
This is stated after charging:
Depreciation of owned fixed assets
**4 Tangible fixed assets**
**Cost**
At 1 April 2023
Additions
Surplus on revaluation
Disposals
At 31 March 2024
**Depreciation**
At 1 April 2023
Charge for the year
Surplus on revaluation
On disposals
At 31 March 2024
**Net book value**
At 31 March 2024
At 31 March 2023
Average number of employees during the financial period
**Number or employees**|**2024**
**£**
2
2
**2024**
**£**
14,885|**2023**
**£**
2|
|---|---|---|
|||2|
|||**2023**
**£**
14,173|
|||**Premises,**
**plant and**
**equipment**
**£**
628,631
42,682
-
-|
|||671,313|
|||75,896
14,885
-
-|
|||90,781|
|||580,532|
|||552,735|
9
## **The Little Theatre (Gateshead) Limited Notes to the Accounts for the year ended 31 March 2024**
|**5 **|**Debtors**||**2024**|**2023**|
|---|---|---|---|---|
||||**£**|**£**|
||Trade debtors||370|-|
||Prepayments||3,768|3,667|
||VAT||1,740|2,663|
||||5,878|6,330|
|**6 **|**Creditors: amounts falling due within one year**||**2024**|**2023**|
||||**£**|**£**|
||Trade creditors||-|-|
||Accruals||884|908|
||||884|908|
|**7 **|**Share capital**||**2024**|**2023**|
||||**£**|**£**|
||Allotted, called up and fully paid:||||
||5,250 Ordinary shares of £1||5,250|5,250|
|**8 **|**Analysis of movement in funds**|||**2024**|
|||**£**|**£**|**£**|
|||**Unrestricted**|**Restricted**|**Total**|
||As at 1 April 2023|611,831|6,923|618,754|
||Net income(expenditure)|74,176|-|74,176|
||As at 31 March 2024|686,007|6,923|692,930|
## **9 Related party transactions**
During the year the company charged £31,452 (2023 - £29,310) by way of rent to The Progressive Players (Gateshead).
DDuring the year the company received a donation of £10,000 towards the new LED lights from i h h i d ib i f £4 338 (2015 £9 300) d h The Progressive Players (Gateshead).
DDuring the year the company did not receive any contributions (2023 - £0) towards the running i h h i d ib i f £4 338 (2015 £9 300) d h costs of the theatre from The Progressive Players (Gateshead).
None of the trustees have been paid any remuneration or received any other benefits from the company or a related entity.
## **10 Capital Commitments**
At the year end the company had no capital commitments.
10
## **The Little Theatre (Gateshead) Limited Notes to the Accounts for the year ended 31 March 2024**
## **11 Ultimate controlling party**
The company is a wholly owned subsidiary of The Progressive Players (Gateshead), a company registered in England and Wales, registration number 00380679 and charity number 511065.
The purpose of The Progressive Players (Gateshead) is the same as that of the company as detailed within the Trustees Report.
The aggregate capital and reserves of The Progressive Players (Gateshead) was £175,173 (2023 - £155,580) and its profits/(losses) for the year then ended were £19,593 (2023 - (£7,858)).
## **12 Legal entity**
The Little Theatre (Gateshead) Limited is a private limited company incorporated in England, the registered office is:
Little Theatre Saltwell View Gateshead NE8 4JS
## **13 Corporation Taxation**
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
11