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:
1. accounting records were not kept in respect of Pendle Hippodrome Theatre Limited as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
...................................... 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|
Page 12
## **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.
Page 13
## **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|
Page 16