Company registration number: OL664358 Charity registration number. 513275 Pendle Hippodrome Theatre Limited li li (A company limited byguarantee) Annual Report alld Finaticial Statements for the Year Ended 31 Decen]ber 2023 1st Floor. Block C The Wharf Manchester Road Butnley Lancasbir BBII IJG
Pelldle Bippodrome Theatre Limited Contents Reftrence and AdmiDi5trative Delails Tntees, Report 2to5 Independent Examinevs Report Statetllent of Financial Activities Balance Sheet Notes to the Financial Ststements 9t015
Pendle Hippodrome Theatre Limited Referenee and Administrative Details Trnstees Mr M D Cleaver D Fa¢T MrN J Goodall Mrs P L Manley S C MaDley Mr Kmason Mrs H L NelsoD Mr P S Thompson K Walton Mr J M Whittam K Wilson Secretary P L MaDley Charity Registration Number 513275 Company Registration Number 01664358 The charity is incorpordted in England. Newrtwket Street ColDe Registered Office BB8 9BJ Independent Eiaminer 1st Floor. BloGk C The Wharf Manchester Road Burnley BBII IJG Bankers Bar¢lays Bank 72 St Jat1 Street BBII 114H Page I
Pendle Hippodrome Theatre Limited Trustee5' Report The trustees, who are directots for the purposes of CoMY law. present the anml report together with th¢ financial 5taternents of the cbaritable company for the year ended 31 Dernber 2023. Trustees Mr M D Cleaver MT D FatTcr MrN J Goodall Mr M Harg[V¢S Mrs P L Manley Mr S C Manley Mr Kmason Mrs H L Nelson Mr P S Thompson Mr K Wa]ton MT J M Whittanl Mrs K Wi150n Objective5 and activities Object5 To PTomoK IDaintaI improve and advance pub]ic education by th¢ production and presentation of the perfoTming arts. To operate, maintain and promote tbe premi knm as P¢tLdle Hippodrome Theatre, New Market Stre¢¢ Colne. Revfiew of the year This year was another succe5sfiIl and exciting year for the Hipp0dr0n. A packed and varied calendar of entertainment vms provided, and the redevelopment Vrk finally started on th¢ fo[M Derby Arn. Booking enquiries surged du¢ to the closure of Co]lle MUDI, however we were only able to accommodate a few due to our a]ready busy calendar of events. Event5 comprised the usual S¢hoo]s, Cinema ll1gb Crn? Fair. musicjdance events and OD¢ new type of event to us. wrestling. These events plus our regular ninteallCe, cleanin& refiwbislment work and meetings all saDdwi¢hed between the Theatre compry and Youth Theatte sbows meant that rarely had a chance to takn breatlL Financially. every grant available to vrns obtained to help nllintsin the c&8b flow. and the prudence of the directors in maintaining healthy cash reseryes over the years meant we were able to continue without any serious fjnattcial hardship. The TheatrB Board have worked tirele551y to COMlt to the smooth nU]DI of the theatre, enswing the sustainability of the theatr¢ for all that use IL The growing teaD] of maintenance volunteers undertook numerous tssks throughout th¢ year, aslde from the roufine cleaning and po]isbing after every event the otber jobs qll]red to maintain and irnPTove the theatre facilities 15 never ending but witb the help of these volunteers we managed to undertake all the key tasks. Major income again cattle from the biters, Craft Fair, Blues. bar and wardrobe departmenL FA seem to be costuming shows fiwther and further afield every year Such is their growing reputation. Page 2
Pendle Hippodrome Theatre Limited Trustees, Report Volunteers The Theatre continues to operate a IOO/o volunteer fictiOn and engage5 no paid staff on any Occasio The Theatre could not run without its strong team of volunteets who contribute sigllificantly to the ruDniDg of th Organisatio The volunteers come froro a diverse range of backgrou1, sharing a coll]mon love of the arts and inclusivity. Many volunteers have attended the Theatse Company or Youth Theatre which forms part of our Theatr¢ thetDselv¢5. Theatre Conwany The P¢ndle Hippodrome Theatre Company stsged 2 musical productions aThl a play through0 the yw and welcomed oldermembers from the Youth Theatre aloDgwith any new members vkno Ished to be part. Youth Theatre The Pendle Hippo¢jrOD Youth Theatre is managed by a Subcommittee apprnved by the Theatre Board, the committee's role includes supporting the children and young people within tb¢ weekly worksbops, leading aotivities and helping WAth the plaThisng of the artistic programme alongside the Artistic teanL The Youtb Theatre works with the volunteers to build their ¢ODfidence, offer them development and training and help signpost the to wider educ&tion alld employll&t opportunities in the borougb. The Youth Theatre nIntaInS a thriving nmberShiP open to all cbil(Iren 10 yeats and abov Derby Arffts Refitrbishment Last year saw the start of the long-awaited tedevelopment of the Dethy Alln5. With plaDs fmalised at the elld of 2022 the work went out to tender in February with Readstone COnstntiOll being the successful bidder. We had a few fiDancial ¢oncerns due to rnajor increases ill time and materials but with the help of Pendle Borougb Council these were overcome, and work started in July. with an ¢xp¢rted completion being July 2024. Management The Board ha5 dealt with all aspects of maDag¢ment atLd financial control over the year with the theatre fanCeS and investments are well managed and healthy balaDc¢s are ll]aintained. The self-ftmding operation of the Theatr¢ conttnues to work well. with the Board having total control of finances and assets, the policy of volunteer only operation remaing absolute. The main source of revenue remains constant, include theatre hire. bar sale4 annual craft fair. wardrobe and prop bire. Grant assistance for specific prOjeCapital items ar¢ sought when appropriate. The Board does not consider operatioll t aid to be prdcticaL The building fimd will renmin active to belp prow Ivith the Dthy ArnL8 integration building project and is anticipated to be fully utilised by the end of 2024. Future plans The Board will continue to investigate fiY all areas of rne generation and will promote th¢ Theatre and its Groups to the fvll¢st advantage. The extent of community involvement in the theatre is evident frotll the usage of the building, Requests forbiTing are healthy for the cOlg year with severnE new hirets which we are hoping to turn into regvlats. Page 3
Pendle Hippodrome Theatre Limited Trustees, Report Pub]ic benefit The charity Pendle Hippodrome Theatr¢ Ltd can display its Tublic Benefiv in several specifiG ways. Its con]mitment of service to the commurity with the provision of opportunity for all to tske part in or ob5¢rve many aspects of the Performing Arts. Its commiln]ent to the preservatio we aud d¢v¢lopment of a UDique building in the interest of the advancement of Arts. CuItL¢ and Heritage. Its con]mitmeDt to th¢ encouragement and education of youth through its own youth group freely open to all to experlence the perforn]ing arts and work alongside peers and adults to enhattce petsonal and mMUnity developmenL Its commitment to op¢rat¢ on a self-fimding and total volunlary basis encouragi1 any person to take part in its activities. Its commitment to work alongside fornMI education to provide young people with a wider experience of Arts, Culture and the role played by volunteer groups in the wider comtllullity. Its lollg ternl Commitent to seek outnew opportiltieS to reacb a wider sector of the community. The tmsÉees confirni that they have complied with the re(wirements of section 17 of the Charities Act 2011 to have due regard to th¢ public benefit guidance published by the Clwity CoMmi10n for England and Wale& FinaDcAal revielv Total unrestrcted income amounted to £157.392. with expenditure of £132,834 genetating a sUlUS of £24,558. Expenditure includes £5.008 met from own fimds of the redevelopment projecL A grdnt of £ll.100 was Teceived from PeDdl¢ BC for the project wbich was fully uti]ised. Policy on reserves ID view of the natte of the in¢ome and expenditure of the charity there is a need to match v8riable incom¢ with fixed commitments and the nature of the reserves. The directors collsid that to Gontinue the ellt a]Viti¢S a general resetye of £80.000 should bo maintained. The directors bave agreed to use the ren]ning reserves for development of tbe Theatre, and the Derby Anns projecL This wll impro facilities for our ovm ¢otnpani¢s and our hirets to fjJrther our objects in the w0ntiOn of theatre arts and also provide InroVed facilities for the disabled. Reserves at the year end are as follows: General fimd £204.858 Fxxed assets reserye £145,142 Building reserye £l10.630 Principal funding sources The ch&ity gellerates the majority of its revenue from theatre hire. bar sales at events. youth theatre perfom)ance5 and tbe annual craft fair. Illvestment policy and objectives The charity holds surplus funds in interest bearing bank accoun Page 4
Pendle Hippodrome Theatre Limited Trusteesl Report Strutturei governance and Duwigemenl Nre of governing documcnl Th¢ Lharily is conlrolled by its Articles of A$50CTalion daled 15ih ScNember 1982. Rccruitment and appointmcnt ofiruCcs The directors are elcctcd by Pendl¢ Hippodrome Th¢atrc Colnpany {an unincorporatcd association). orn1S8110nl struclure The dircctors mcl r¢gulJrly Éhroughout thc year. Major risks #nd manaEement of those ri5 Thc Irustccs have a risk managemcnl pmccss th esS blnesS risLs a1 are implemenling &yslcms lo miligate Ihese risks. Intcrnal risks are minimised b! the implementation of procedurcs for allthorization of all iransaclion5 and projecTS and to ensurc consistent quality ofdc]ivery for all operational aspects of ihe chariiable ompany. As parl of an ongoing improvement polxcy ihese risk procedure5 are reviewed on an annual basis and corrcclcd l amendcil whcn ncecssary. Small ctsmpani¢s provision ststement This r¢port bccn preparcd in ac¢ord?ncc with ihc small companics regimc undcr tk Companies Aci ?(KJ6. Th¢ annval report uys approved by ihe iru%iees ofihe charily on 23 April 2024 and signed on ils b¢hdifby. Mr K Mason Tn1¢¢ Page 5
Pendle Hippodrome Theatre Limited Independent Examiner's Report to the trnstees of Pendle Hippodrome Theatre Limited ('the Co]npany') I report to the charity tW5tee5 on my uaminaliou of the accouots of the Company for the year ended 31 December 2023. Re5pollsibllitie5 and basi5 of report As the charity's trustees of the Comp8ny (and also its directors for the putposes of company law) you reSPOD5ibl¢ for the preparntion of the accoullts in accordau¢e with th¢ requi¢llts of th¢ Companies Act 2006 ('the 2006 Act.). Having satlsfied myself that the accounts of the CoD]pany are not required to be audited under Part 16 of the 2006 Act and ar¢ ¢ligibl¢ for independent examinatio I report in respect of tlly exan]ination of your charity, accounts as carried out under section 145 of the Charitles Act 2011 ('tbe 2011 Act.). In ¢anJiDg out my examination I have followed the Directions given by th¢ Clwity CoJnmiwon under section 145(5)(b) of the 2011 ACL Independent examiner's statement I have completed my eXamitiOn. I CODfilln that no matters have come to my attention in CODnethion with the examination giving me cause to believe." accountillg records were not kept in respect of Pendle Hipp0dr0n Theatre Limited as required by section 386 ofthe 2006 Act" or 2. the accouEts do not accord with thosB records: or 3. the accounts do not comply vrith the accounting requirements of section 396 of the 2006 Act other tILan any reqUirellnt tlmt the accounts give a 'true and fait viev/ wbicb is not a matter considered as part of an independent examination" or 4. the accounts have not been prepar in a[dance with the method5 and pEin¢ip1¢5 of tb¢ Statement of RecotDmended Practice ftir accountiDg aDd reporting by clwities [appIicable to ChltIeS preparing their 3ccoiints in aOrdance with the Financial RepoIting StaDdard applicable in the UK and R¢pubIiG of Jreland (FRS 102)]. I have no concerns and have acTOSS no other lltte[s in connection with the exqmination to which attention thould be thawn in this report in 0er to le a proper utuktstanding of tbc accounts to b¢ rnched. MarkHeaton FCCA FaE DCbA 1st Floor, Block C The Wharf Manchester Road Bwrnley LaDcashire BBII IJG 23 April 2024 Page 6
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Pendle 1ppodrome Theatre Limited (Registratlon number: 01664358) Balance Sheet as at 31 December 2023 2(123 2022 Note Fixcd a55ots Tangible asscis Inv&slmenls 12 13 445.142 IXI.789 144.31¥ 99.154 245.931 243,472 Current assets Srocks Debtors Cath at bank and in hand 1 3.835 .472 211.755 3.843 15,780 175.406 14 ?17,062 195.0?y Credltors: Arnounts falllD£ dDe withln one vear 15 12.3631 (2.429) 'et eyrrent assets 14.699 ko.630 192.600 Net assets 436.072 Funds ofthe charilr. Unrestricted income TuDd5 UnrL'strictrd funds 460.630 436.072 Tothl funds 16 0.630 436,072 For il)c financiiil ycdr ¢nding 31 Deccmbcr ?023 the charity was ent111 to exemptio from audit under section 477 ofihc Companios Act ?oa6 rclaiing to small companie& DireLlors' r¢spDnsibililie Th¢ m¢mbttrs have nol required the charily lo obtain an audit of Its acwunts for the year in question in aceordluC wilh section 476: and Thc dircclors acknowled ihcir rcsponsibilili¢s for complytng with lh¢ requirements of ihe Aet with respe to yOuntIng records. and Ihe pttpafttiort ofaccounl& Thc financial $trtemenis on pagcs 7 10 15 were approved by thc trustees, and aUthorid for i&qu¢ on 23 April ?024 Dnd si¥ned on their behalf br. Mr K Mason Trll5tce The noies on pages 9 10 15 fomi an inlcgral part ofthese financial s Page 8
Pendle Hippodrome Theatre Lin)ited Notes to the Financial Statements for the Year Ended 31 December 2023 I Charity 5tatU5 The charity is limited by guarantee, incorporated in England, and consequently does not have shaTr capital. Each of the trustse5 is liable to contnThute an amount not exceeding £1 towards the wets of th¢ GbaTity in th¢ eVt of liquidation. The address of its registered office is: Newmarket Street Coln¢ Lancasbire BB8 9BJ These fll]anci statements were authorised for issue by the tsvstees on 23 April 2024. 2 Accounting po]icie5 Summary of $igDificant attoullting policies and key ateowiting estiwatrs The ptincipal accounting policie5 applied in the piepardtion of these financial state[tllts are set out below. These po]icies have been consistently applied to all the years presented, w)less otherwise state Statement of comp]iallcÈ The financial statements have been prepared in accokn with Accounting and Reporting by ChaTities: Statement of Recommended Practice appticable to cbaTities prepariDg their accounts in accordance wÉth the Financial Reportlng Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l Jojll 2019) - (ChaTities SORP (FRS 102)). the Fittancial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also complywith the CorDpa¢S Act 2006 and Charities Act 2011. BAS15 of preparatlon Pendle Hippodrome Theatre Limited meets the defmition of a public benefit entity under FBS 102. Assets and liabilities ate initially I0gS at bistoriGal cost or Iransaction v81ue unle&s otheTwise stated in the relevant ac¢ounÉing policy notes. Going eoncern The trustees consider tbat thete are no material uncertainties about the charity's ability to continue as a going concern nor any significant ar¢a5 of uncertainty that afftct the Calg value of assets held by the charity. Income All illcome is Tecogoised once the cbarity ha5 entitlemeDt to the income. it is probable that the income will be received and the aTnount of the income Teceivable canbe measured lIablY. Expenditure All eXpendit[e 15 recognised onre the 15 a legal or constnthve ob]igation to that expenditur4 it is probablg 5ettlernent is required alld the amount can be meas[ed re]iably. All costs are allocated to the appltcable expenditure heading that ag8reEate similar costs to that category. Page 9
PendIe Hippodrome Theatre Linlited Notes to the Financial StateLuents for the Year Ended 31 December 2023 RaiNngfund3 These are costs incutTed in attrdcting voluntary incollK the management of investments and those incutred in trading activities that raise fimds. Chan'lable acltvities Charitable expendikn comprise5 those costs incutred by the ¢haEity in the delivery of its activities and services for Its beneficiari¢s. It includes both costs that can be allocated diTrctly to such activities and those costs of all indirect nattwe necessary to sUppOrttb Taxation The charity is consider¢d to pass the tests set out itt Par8ph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK COOtion tax PlJTposes. Accordingly, the clwity 15 POt¢ntially exempt from tsxation in respect of income or capital gains r¢ceiYed within categories ¢overed by Chapter 3 Part I l of the CoOration Tax A¢t 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gal% are applied exclusively to charitable putposes. Depreci4tion Depreciation Is provÉded on taublE fixed assets so as to write off the cost OT Valuatio less any estinTrted residual value, over their expected weful economic ]ife as follows: Asset class Freehold ptopety Equipment Depretiation method and rate 2D/o On Cost per aDDU 33/0 on c05t per aDDu Trade debtors Trade debtors are alluts the from for m¢hth sold or services perfornied in the ordinary course of busin. Trade creditors Trade creditors ate obligations to pay for goods or services that bav¢ been acquired in the ordinary COU of business from SuppliS. Accounts payable are classified as current ]iabi]ities rf the Gbatity does not have all unconditional rigbl at the end of the ryorting period, to def settlement of the creditor foi at least twelve onth5 after the reporting date. If there 15 an unwnditiojjal right to defer settlement for at le&st twelve months after the reporting date, they are presented as non-current liabilities. und structure UnTestricted incom¢ funds ate genernl funds that are available for use at the trustees discretion in furtherance of the obiectÉves of the charity. DesigDated fjmds are unrestricted fLd$ set aside for specific purposes atthe discretion of Ihe thte¢s. Page io
Pendle Hxppodrome Theatre Iimited Notes to the Financial Staternents for the Year Ended 31 December 2023 3 Income from donatioDs Unrestricted TotAI 2023 Total 2022 Ceneral Restricted Donations Government grants 3.634 3.634 ii,ioo 1237 28,615 29,852 i i.ioo 3,634 ii.ioo 14,734 4 1n¢ome from eh2fAt2ble aetivities Unrestricted Total 2023 Total 2022 General Theatre Operntions Youth Theatre 32,554 33.363 32.554 33,363 38,647 18,178 65.917 65917 56,825 5 Income from other trading activities Unre5trided TotaI 2023 Total 2022 General Trading income: Bar sales etc Craft Fatr 50.602 35.085 50,602 35,085 42.739 35,989 85.687 85.687 78,728 6 Jnvestment incoD Total 2023 Total 2022 Ceneral Interest receivable onbank dwsits 2.154 2,154 671 Page 11
Pendle Hippodrome Theatre Limited Notes to the Financial Statements for the Year Ended 31 December 2023 7 Expenditure on raising funds Pd) C05t5 of trading activities UDrestrictsd Total 2023 Total 2022 General Fundrhising trading 22.794 22,794 24,269 8 Expenditure on ehArllt2ble aetivlties U]restrieted Total 2023 Total 2022 General Restricted Theatre Operations YoLttb Theatre Levelling up expenditure 88.256 16.776 5,008 88256 16,776 16.108 74.632 13,030 25,948 ii.ioo 110,040 i i,ioo 121.140 113,610 9 Net in¢ominWoutgoing resources Net incoming resources for the year include: 2023 2022 DeWlatiOn of fixed assets Ind¢p¢nd¢nt ¢xamineTh fee 4,725 1,400 4,725 1,360 10 Trustees remuneration and expenses No trustees. nor any persons CODnected with then4 have received any remurntion from the cknty during th¢ yeat. No trustees have received any teiD]butsed expenses orany otherbenefits fro]n the clwity during the year. 11 Taxation The clmrity is a registered chatity and i8 therekn exempt ftom taxatio Pag¢ 12
Pendle Hippodrome Theatre Limited Notes to the Financial Statements for the Year Ended 31 December 2023 12 Tall711e fized assets Freehold property Equipment Total C05t At l January 2023 Additions 237,494 93,775 5,549 331269 5,549 At 31 December 2023 237,494 99.324 336,818 Depreciation At l January 2023 Clwge for th¢ year At 31 December 2023 93,176 4,725 93,775 186,951 4,725 97.901 93.775 191,676 Net book value At 31 December 2023 139.593 5.549 145.142 At 31 December 2022 144.318 l44.318 13 Fixed asset investments 21)23 2022 100.789 99.154 Other investments consists of a deposit account with Cauthidge & Counties Bank 14 Debtors 2023 2022 Trade debtors Other debtors 1.472 14,400 1,380 15,780 1,472 IS Creditors 2023 2022 TEade creditors ACCal$ 104 2259 708 1.721 2J63 2.429 Page 13
Pendle Hippodrome Theatre Lijnited Notes to the Financial Statements for the Year Ended 31 December 2023 16 Funds Balance at 31 December 2023 Balance at I January 2023 Incoming resources Resources expended Transfers Unrestrlcted funds GeneMI General Fund 181.124 157.392 (132.834) (824) 204,858 Desigiiated Fixed Assets Building Reserve 144318 110.630 824 145,142 110,630 255.772 254948 824 Total nnrestrlcted funds 436,072 157.392 (132,834) 460.630 Restricted fun(Is Levelling up t- Pendle BC ii.ioo (i i,ioo} Total fund5 436.072 168,492 (143.934) 460.630 Balance at 31 Balance at I JaDUllry 2022 Incoming re50ur¢es Resources expended December Trgnsfers 2022 UDrestrictsd fvnds General General Fund 148202 140.128 (111.931) 4.725 181,124 Deslgnated Fixed Assets Building Reserye 149,043 110,630 (4,725) 144,318 110.630 259.673 (4,725) 254.948 Total UDre5trAeted funds 407.875 140.128 (111.931) 436.072 Restricted funds Levelling up grant- Pendle BC 25,948 (25,948) Total funds 407.875 166.076 (137.879) 436,072 Pa 14
Pendle Hippodrome Theatre LiDJited Notes to the Financial Statements for the Year Ended 31 December 2023 17 Anatysis of net assets between funds Unres¢rirted Total funds at31 De¢enther 2023 General Deslgllated Tall1e fixed assets Fixed asset investments cUent assets CU¢Trt liabilities 145,142 100,789 9,841 145,142 100.789 217,062 (2.363) 207221 (2,363) Total net assets 204,858 255,772 460,630 Unr&strieted Total fun(18 at31 Decellther Cenerat Designated 2022 Tangible fixed assets Fixed 2S5et inYestmeThts CUrnt assets Current liabilities 144J18 99,154 11.476 144,318 99,154 195.029 (2,429) 183.553 (2,429) Total net assets 181.124 254,948 436.072 Pag¢ 15