Company registration number: 01664358 Charity registration number: 513275
Pendle Hippodrome Theatre Limited
(A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 31 December 2024
KM 1st Floor, Block C The Wharf Manchester Road Burnley Lancashire BB11 1JG
Pendle Hippodrome Theatre Limited
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 6 |
| Independent Examiner's Report | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Notes to the Financial Statements | 10 to 16 |
Pendle Hippodrome Theatre Limited
Reference and Administrative Details
Trustees Mr M D Cleaver Mr D Farrer Mr N J Goodall Mr M Hargreaves Mrs P L Manley Mr S C Manley Mr K Mason Mrs H L Nelson Mr P S Thompson Mr K Walton Mr J M Whittam Mrs K Wilson Secretary Mrs P L Manley Charity Registration Number 513275 Company Registration Number 01664358 The charity is incorporated in England. Registered Office Newmarket Street Colne Lancashire BB8 9BJ Independent Examiner KM 1st Floor, Block C The Wharf Manchester Road Burnley Lancashire BB11 1JG Bankers Barclays Bank 72 St James Street Burnley Lancashire BB11 1NH
Page 1
Pendle Hippodrome Theatre Limited
Trustees' Report
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors' report of the charitable company for the year ended 31 December 2024.
Trustees
Mr M D Cleaver Mr D Farrer Mr N J Goodall Mr M Hargreaves Mrs P L Manley Mr S C Manley Mr K Mason Mrs H L Nelson Mr P S Thompson Mr K Walton Mr J M Whittam Mrs K Wilson
Objectives and activities
Objects
To promote, maintain, improve and advance public education by the production and presentation of the performing arts.
To operate, maintain and promote the premises known as Pendle Hippodrome Theatre, New Market Street, Colne.
Page 2
Pendle Hippodrome Theatre Limited
Trustees' Report
Review of the year
The year started with an unusually busy January when we hosted the panto which had transferred to us following the extended closure of the Muni. This was very successful and most audience members congratulated us on the Theatre and our hospitality. Following the Panto run the month ended with another popular wrestling evening.
February saw us stage the Youth Theatre musical 'The Little Mermaid' followed by the start of three full weekends of the Nelson Dance festival, these ran into early March and were quickly followed by Theatre Company's musical 'Mack And Mabel'.
April rapidly came with another musical week, when Stage Door took over the theatre to perform 'We Will Rock You'. Following on from this and most of May we closed to the public to allow the building works to continue.
June saw the theatre reopen with the Pendle school’s festival, Laneshawbridge School and Encore Dance and a busy July saw us host the schools of Fisher Moor, Wheatley Lane and Blacko interspersed with a 'Dance Yourself Dizzy' show and Josh as Bublé.
August saw us prep for the hectic but very rewarding Blues weekend.
The autumn season opened in September with the Theatre Company's musical 'Sunset Boulevard' and then we had the fantastic 'Amazing Animals' family show before BASICS Theatre School arrived to perform the popular musical 'Grease'.
There was no let up in the program as this was very quicky followed by our own Youth Ttheatre who stage the hit musical 'SIX'.
Most of November was taken up with prep for the nine day craft fair which took place at the end of the month, this led us into December when we hosted BASICS juniors and the schools of Sacred Heart and Blacko. The year ended with the very popular Swing Band Christmas Concert and the reintroduction of our family Christmas Party.
We didn’t have much time to take breath between all these events and there was also many weeks of preparation for all these events to happen. Rehearsals, production meetings, committee meetings and board meetings continued to take place, with our wardrobe department remaining open despite all the building work going on all around them.
The maintenance team were on site practically every morning and most evenings hard at work improving, maintaining and cleaning the Theatre to keep it up to the standard we have set ourselves.
Page 3
Pendle Hippodrome Theatre Limited
Trustees' Report
Volunteers
The Theatre continues to operate a 100% volunteer function and engages no paid staff on any occasion. The Theatre could not run without its strong team of volunteers who contribute significantly to the running of the organisation. The volunteers come from a diverse range of backgrounds, sharing a common love of the arts and inclusivity. Many volunteers have attended the Theatre Company or Youth Theatre which forms part of our Theatre themselves.
Theatre Company
The Pendle Hippodrome Theatre Company staged 2 musical productions and a play throughout the year and welcomed older members from the Youth Theatre along with any new members who wished to be part.
Youth Theatre
The Pendle Hippodrome Youth Theatre is managed by a subcommittee approved by the Theatre Board, the committee’s role includes supporting the children and young people within the weekly workshops, leading activities and helping with the planning of the artistic programme alongside the Artistic team. The Youth Theatre works with the volunteers to build their confidence, offer them development and training and help signpost them to wider education and employment opportunities in the borough.
The Youth Theatre maintains a thriving membership open to all children 10 years and above.
Derby Arms Refurbishment
Something very special happened in July. After years of planning, possibly decades, our plans and dreams finally came to fruition when we finally got the keys to the newly refurbished Derby arms. Every floor fully refurbished, a new bar and kitchen created, access onto stage improved, new dressing room, full disabled facilities created, lift installed, additional toilet facilities, rehearsal space and function room, attic space for our wardrobe to expand into and storage facilities have all been created. A truly fantastic addition to our Theatre and one which I believe make us one, if not the, best performing arts establishment in the area and one we should all be extremely proud of. This was mainly funded by Pendle Borough Council through Levelling Up funds.
Management
The Board has dealt with all aspects of management and financial control over the year with the theatre finances and investments are well managed and healthy balances are maintained. The self-funding operation of the Theatre continues to work well, with the Board having total control of finances and assets, the policy of volunteer only operation remains absolute. The main source of revenue remains constant, include theatre hire, bar sales, annual craft fair, wardrobe and prop hire. Grant assistance for specific projects/capital items are sought when appropriate. The Board does not consider operational grant aid to be practical.
Future plans
The Board will continue to investigate fully all areas of revenue generation and will promote the Theatre and its Groups to the fullest advantage. The extent of community involvement in the theatre is evident from the usage of the building, Requests for hiring are healthy for the coming year with several new hirers which we are hoping to turn into regulars.
Page 4
Pendle Hippodrome Theatre Limited
Trustees' Report
Public benefit
The charity Pendle Hippodrome Theatre Ltd can display its 'Public Benefit' in several specific ways.
Its commitment of service to the community with the provision of opportunity for all to take part in or observe many aspects of the Performing Arts.
Its commitment to the preservation, use and development of a unique building in the interest of the advancement of Arts, Culture and Heritage.
Its commitment to the encouragement and education of youth through its own youth group freely open to all to experience the performing arts and work alongside peers and adults to enhance personal and community development.
Its commitment to operate on a self-funding and total voluntary basis encouraging any person to take part in its activities.
Its commitment to work alongside formal education to provide young people with a wider experience of Arts, Culture and the role played by volunteer groups in the wider community.
Its long term commitment to seek out new opportunities to reach a wider sector of the community.
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.
Financial review
Overall income was higher than in 2023 - both for charitable activity income and fundraising throuigh bar sales and craft fair. An increase in property related expenditure led to a deficit of £9,808. The directors consider the financial performance as satisfactory.
Policy on reserves
In view of the nature of the income and expenditure of the charity there is a need to match variable income with fixed commitments and the nature of the reserves. The directors consider that to continue the current activities a general reserve of £80,000 should be maintained. The directors have agreed to use the remaining reserves (at the year end £127,932) for continued development of the Theatre..
Reserves at the year end are as follows:
General fund £207,932 Fixed assets reserve £242,890
The fixed asset reserve represents the investment in property etc from theatre funds.
Principal funding sources
The charity generates the majority of its revenue from theatre hire, bar sales at events, youth theatre performances and the annual craft fair.
Investment policy and objectives
The charity holds surplus funds in interest bearing bank accounts.
Page 5
Pendle Hippodrome Theatre Limited
Trustees' Report
Structure, governance and management
Nature of governing document
The charity is controlled by its Articles of Association dated 15th September 1982.
Recruitment and appointment of trustees
The directors are elected by Pendle Hippodrome Theatre Company (an unincorporated association).
Organisational structure
The directors met regularly throughout the year.
Major risks and management of those risks
The trustees have a risk management process to assess business risks and are implementing systems to mitigate these risks. Internal risks are minimised by the implementation of procedures for authorization of all transactions and projects and to ensure consistent quality of delivery for all operational aspects of the charitable company. As part of an ongoing improvement policy these risk procedures are reviewed on an annual basis and corrected / amended when necessary.
Small companies provision statement
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
The annual report was approved by the trustees of the charity on 30 April 2025 and signed on its behalf by:
......................................... Mr K Mason Trustee
Page 6
Pendle Hippodrome Theatre Limited
Independent Examiner's Report to the trustees of Pendle Hippodrome Theatre Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024.
Responsibilities and basis of report
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of Pendle Hippodrome Theatre Limited as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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 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.
...................................... Mark Heaton FCCA FCIE DChA KM 1st Floor, Block C The Wharf Manchester Road Burnley Lancashire BB11 1JG
30 April 2025
Page 7
Pendle Hippodrome Theatre Limited
Statement of Financial Activities for the Year Ended 31 December 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income from: Donations 3 Charitable activities 4 Other trading activities 5 Investment income 6 Total income Expenditure on: Raising funds 7 Charitable activities 8 Total expenditure Net (expenditure)/income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 16 |
Unrestricted £ 685 72,114 100,436 4,707 177,942 (26,776) (160,974) (187,750) (9,808) (9,808) 460,630 450,822 |
Total 2024 £ 685 72,114 100,436 4,707 177,942 (26,776) (160,974) (187,750) (9,808) (9,808) 460,630 450,822 |
Unrestricted £ 3,634 65,917 85,687 2,154 157,392 (22,794) (110,040) (132,834) 24,558 24,558 436,072 460,630 |
Restricted £ 11,100 - - - 11,100 - (11,100) (11,100) - - - - |
Total 2023 £ 14,734 65,917 85,687 2,154 |
|---|---|---|---|---|---|
| 168,492 | |||||
| (22,794) (121,140) |
|||||
| (143,934) | |||||
| 24,558 | |||||
| 24,558 436,072 |
|||||
| 460,630 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 16.
The notes on pages 10 to 16 form an integral part of these financial statements.
Page 8
Pendle Hippodrome Theatre Limited
(Registration number: 01664358) Balance Sheet as at 31 December 2024
| Note Fixed assets Tangible assets 12 Investments 13 Current assets Stocks Debtors 14 Cash at bank and in hand Creditors: Amounts falling due within one year 15 Net current assets Net assets Funds of the charity: Unrestricted income funds Unrestricted funds Total funds 16 |
2024 £ 242,890 104,749 347,639 5,503 2,004 102,991 110,498 (7,315) 103,183 450,822 450,822 450,822 |
2023 £ 145,142 100,789 |
|---|---|---|
| 245,931 | ||
| 3,835 1,472 211,755 |
||
| 217,062 (2,363) |
||
| 214,699 | ||
| 460,630 | ||
| 460,630 | ||
| 460,630 |
For the financial year ending 31 December 2024 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 8 to 16 were approved by the trustees, and authorised for issue on 30 April 2025 and signed on their behalf by:
......................................... Mr K Mason Trustee
The notes on pages 10 to 16 form an integral part of these financial statements.
Page 9
Pendle Hippodrome Theatre Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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: Newmarket Street Colne Lancashire BB8 9BJ
These financial statements were authorised for issue by the trustees on 30 April 2025.
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) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.
Basis of preparation
Pendle Hippodrome Theatre Limited 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.
Income
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.
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.
Page 10
Pendle Hippodrome Theatre Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
Raising funds
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
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.
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.
Depreciation
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 | Depreciation method and rate |
|---|---|
| Freehold property | 2% on cost per annum |
| Equipment | 33% on cost per annum |
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
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.
Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.
Page 11
Pendle Hippodrome Theatre Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
3 Income from donations
Unrestricted
| Donations Government grants 4 Income from charitable activities Theatre Operations Youth Theatre 5 Income from other trading activities Trading income: Bar sales etc Craft Fair 6 Investment income Interest receivable on bank deposits |
General £ 685 - 685 Unrestricted General £ 31,151 40,963 72,114 Unrestricted General £ 63,172 37,264 100,436 Unrestricted General £ 4,707 |
Total 2024 £ 685 - 685 Total 2024 £ 31,151 40,963 72,114 Total 2024 £ 63,172 37,264 100,436 Total 2024 £ 4,707 |
Total 2023 £ 3,634 11,100 |
|---|---|---|---|
| 14,734 | |||
| Total 2023 £ 32,554 33,363 |
|||
| 65,917 | |||
| Total 2023 £ 50,602 35,085 |
|||
| 85,687 | |||
| Total 2023 £ 2,154 |
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Pendle Hippodrome Theatre Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
7 Expenditure on raising funds
a) Costs of trading activities
Unrestricted
| Unrestricted | |||
|---|---|---|---|
| Fundraising trading 8 Expenditure on charitable activities Theatre Operations Youth Theatre Levelling up grant expenditure 9 Net incoming/outgoing resources Net (outgoing)/incoming resources for the year include: Depreciation of fixed assets Independent examiners fee |
General £ 26,248 Unrestricted General £ 129,838 31,136 - 160,974 |
Total 2024 £ 26,248 Total 2024 £ 129,838 31,136 - 160,974 2024 £ 9,199 1,470 |
Total 2023 £ 22,794 |
| Total 2023 £ 88,256 16,776 16,108 |
|||
| 121,140 | |||
| 2023 £ 4,725 1,400 |
10 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 or any other benefits from the charity during the year.
11 Taxation
The charity is a registered charity and is therefore exempt from taxation.
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Pendle Hippodrome Theatre Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
12 Tangible fixed assets
| 12 Tangible fixed assets | |||
|---|---|---|---|
| Cost At 1 January 2024 Additions At 31 December 2024 Depreciation At 1 January 2024 Charge for the year At 31 December 2024 Net book value At 31 December 2024 At 31 December 2023 |
Freehold property £ 237,494 105,401 342,895 97,901 6,834 104,735 238,160 139,593 |
Equipment £ 99,324 1,546 100,870 93,775 2,365 96,140 4,730 5,549 |
Total £ 336,818 106,947 |
| 443,765 | |||
| 191,676 9,199 |
|||
| 200,875 | |||
| 242,890 | |||
| 145,142 |
13 Fixed asset investments
Other investments
| 2024 £ 104,749 |
2023 £ 100,789 |
|---|---|
Other investments consists of a deposit account with Cambridge & Counties Bank.
14 Debtors
| 14 Debtors | ||
|---|---|---|
| Trade debtors 15 Creditors Trade creditors Accruals |
2024 £ 2,004 2024 £ 828 6,487 7,315 |
2023 £ 1,472 |
| 2023 £ 104 2,259 |
||
| 2,363 |
Page 14
Pendle Hippodrome Theatre Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
16 Funds
| Unrestricted funds General General Fund Designated Fixed Assets Building Reserve Total funds Unrestricted funds General General Fund Designated Fixed Assets Building Reserve Total unrestricted funds Restricted funds Levelling up grant - Pendle BC Total funds |
Balance at 1 January 2024 £ 204,858 145,142 110,630 255,772 460,630 Balance at 1 January 2023 £ 181,124 144,318 110,630 254,948 436,072 - 436,072 |
Incoming resources £ 177,942 - - - 177,942 Incoming resources £ 157,392 - - - 157,392 11,100 168,492 |
Resources expended £ (187,750) - - - (187,750) Resources expended £ (132,834) - - - (132,834) (11,100) (143,934) |
Transfers £ 12,882 97,748 (110,630) (12,882) - Transfers £ (824) 824 - 824 - - - |
Balance at 31 December 2024 £ 207,932 242,890 - |
|---|---|---|---|---|---|
| 242,890 | |||||
| 450,822 | |||||
| Balance at 31 December 2023 £ 204,858 145,142 110,630 |
|||||
| 255,772 | |||||
| 460,630 - |
|||||
| 460,630 |
Page 15
Pendle Hippodrome Theatre Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
17 Analysis of net assets between funds
Unrestricted
| Tangible fixed assets Fixed asset investments Current assets Current liabilities Total net assets Tangible fixed assets Fixed asset investments Current assets Current liabilities Total net assets |
General £ Designated £ - 242,890 104,749 - 110,498 - (7,315) - 207,932 242,890 Unrestricted General £ Designated £ - 145,142 - 100,789 207,221 9,841 (2,363) - 204,858 255,772 |
Total funds at 31 December 2024 £ 242,890 104,749 110,498 (7,315) |
|---|---|---|
| 450,822 | ||
| Total funds at 31 December 2023 £ 145,142 100,789 217,062 (2,363) |
||
| 460,630 |
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