Bruiser Theatre Company
Statement of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income and Endowments from: Charitable activities 3 Other trading activities Other income 4 Total Income Expenditure on: Raising funds 5 Charitable activities 6 Total Expenditure Net income Transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 15 Income and Endowments from: Charitable activities Other trading activities Other income Total Income Expenditure on: Raising funds Charitable activities Total Expenditure Net income Transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted funds £ 4,300 - 35,695 39,995 (400) (23,261) (23,661) 16,334 (11,817) 4,517 105,114 109,631 Note 3 4 5 6 15 |
Restricted funds £ 261,467 - 50,054 311,521 (6,769) (292,578) (299,347) 12,174 11,817 23,991 79,456 103,447 Unrestricted funds £ 17,957 - 14,012 31,969 (64) (14,302) (14,366) 17,603 (86) 17,517 87,597 105,114 |
Total 2024 £ 265,767 - 85,749 351,516 (7,169) (315,839) (323,008) 28,508 - 28,508 184,570 213,078 Restricted funds £ 197,550 108 32,385 230,043 (2,133) (185,804) (187,937) 42,106 86 42,192 37,264 79,456 |
Total 2023 £ 215,507 108 46,397 |
|---|---|---|---|---|
| 262,012 | ||||
| (2,197) (200,106) |
||||
| (202,303) | ||||
| 59,709 - |
||||
| 59,709 124,861 |
||||
| 184,570 | ||||
| Total 2023 £ 215,507 108 46,397 |
||||
| 262,012 | ||||
| (2,197) (200,106) |
||||
| (202,303) | ||||
| 59,709 - |
||||
| 59,709 124,861 |
||||
| 184,570 |
Page 19
Bruiser Theatre Company
Statement of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2024 & 2023 is shown in note 15.
Page 20
Bruiser Theatre Company
(Registration number: NI601058) Balance Sheet as at 31 March 2024
| Note Fixed assets Tangible assets 11 Current assets Debtors 12 Cash at bank and in hand Creditors: Amounts falling due within one year 13 Net current assets Net assets Funds of the charity: Restricted funds Unrestricted income funds Unrestricted funds Designated Funds Total unrestricted funds Total funds 15 |
2024 £ 12,128 3,895 257,837 261,732 (60,782) 200,950 213,078 103,447 39,152 70,479 109,631 213,078 |
2023 £ 19,075 6,664 171,639 |
|---|---|---|
| 178,303 (12,808) |
||
| 165,495 | ||
| 184,570 | ||
| 79,456 | ||
| 34,635 70,479 |
||
| 105,114 | ||
| 184,570 |
For the financial year ending 31 March 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.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements on pages 19 to 31 were approved by the trustees, and authorised for issue on 21 November 2024 and signed on their behalf by:
......................................... Diana McKeown Trustee
Page 21
Bruiser Theatre Company
Notes to the Financial Statements for the Year Ended 31 March 2024
1 Charity status
The charity is a charity limited by guarantee and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £Nil towards the assets of the charity in the event of liquidation. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Basis of preparation
Bruiser Theatre Company 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 financial statements have been prepared on a going concern basis.
The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.
The Trustees are aware that the Charity has lost its main funding, but remain hopeful that steps can be taken to ensure the organsiation continues with its activities. Steps have been taken by the Trustees to reduce non-essential costs to allow the Charity to regroup and source alternative funding.
Exemption from preparing a cash flow statement
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Page 22
Bruiser Theatre Company
Notes to the Financial Statements for the Year Ended 31 March 2024
Income and endowments
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. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
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.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.
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.
Tangible fixed assets
Individual fixed assets costing £0.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
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 Office Equipment
Depreciation method and rate 20% Straight Line
Page 23
Bruiser Theatre Company
Notes to the Financial Statements for the Year Ended 31 March 2024
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
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.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees's 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.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Page 24
Bruiser Theatre Company
Notes to the Financial Statements for the Year Ended 31 March 2024
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.
3 Income from charitable activities
| Charitable Activities | Unrestricted funds General £ 4,300 |
Restricted funds £ 261,467 |
Total 2024 £ 265,767 |
Total 2023 £ 215,507 |
|---|---|---|---|---|
Page 25
Bruiser Theatre Company
Notes to the Financial Statements for the Year Ended 31 March 2024
4 Other income
| Box Office & programme sales | Unrestricted funds General £ 35,695 |
Restricted funds £ 50,054 |
Total 2024 £ 85,749 |
Total 2023 £ 46,397 |
|---|---|---|---|---|
5 Expenditure on raising funds
a) Costs of generating donations and legacies
| Unrestricted funds Note General £ Marketing and publicity 400 6 Expenditure on charitable activities Unrestricted funds Note General £ Box Office & programme sales 23,254 Staff costs - Allocated support costs 7 7 Governance costs 7 - 23,261 |
Restricted funds £ 6,769 Restricted funds £ 145,295 112,327 31,968 2,988 292,578 |
Total 2024 £ 7,169 Total 2024 £ 168,549 112,327 31,975 2,988 315,839 |
Total 2023 £ 2,197 |
|---|---|---|---|
| Total 2023 £ 66,840 105,611 24,424 3,231 |
|||
| 200,106 |
Page 26
Bruiser Theatre Company
Notes to the Financial Statements for the Year Ended 31 March 2024
7 Analysis of governance and support costs
Charitable activities expenditure
| Basis of allocation Rent & Rates Telephone & Internet Printing, Postage & Stationery Legal & Professional Insurance Access NI Membership & Subscriptions Software & IT Costs Depreciation Staff Welfare Bank Charges Advertising Travel costs Sundry Expenses Repairs & Maintenance Foreign Exchange Loss Governance costs Independent examiner fees Examination of the financial statements |
Restricted funds £ 9,220 1,633 468 2,013 1,781 - 200 907 7,638 1,279 199 38 2,263 4,126 32 178 31,975 Restricted funds £ 2,988 2,988 |
Total 2024 £ 9,220 1,633 468 2,013 1,781 - 200 907 7,638 1,279 199 38 2,263 4,126 32 178 31,975 Total 2024 £ 2,988 2,988 |
Total 2023 £ 6,965 1,419 281 - 1,974 41 180 2,083 7,500 272 (69) 1,115 1,669 43 951 - |
|---|---|---|---|
| 24,424 | |||
| Total 2023 £ 3,231 |
|||
| 3,231 |
Page 27
Bruiser Theatre Company
Notes to the Financial Statements for the Year Ended 31 March 2024
8 Staff costs
The aggregate payroll costs were as follows:
| The aggregate payroll costs were as follows: | ||
|---|---|---|
| Staff costs during the year were: Wages and salaries Social security costs Pension costs |
2024 £ 103,481 5,840 3,006 112,327 |
2023 £ 98,980 4,204 2,427 |
| 105,611 |
The monthly average number of persons (including senior management team) employed by the charity during the year expressed as full time equivalents was as follows:
| Staff No employee received emoluments of more than £60,000 during the year. 9 Independent examiner's remuneration Examination of the financial statements |
2024 No 5 2024 £ 2,988 |
2023 No 4 |
|---|---|---|
| 2023 £ 3,231 |
Page 28
Bruiser Theatre Company
Notes to the Financial Statements for the Year Ended 31 March 2024
10 Taxation
The charity is a registered charity and is therefore exempt from taxation.
11 Tangible fixed assets
| Cost At 1 April 2023 Additions At 31 March 2024 Depreciation At 1 April 2023 Charge for the year At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 12 Debtors Trade debtors Prepayments 13 Creditors: amounts falling due within one year Trade creditors Other taxation and social security Other creditors |
Furniture and equipment £ 37,741 690 38,431 18,665 7,638 26,303 12,128 19,076 2024 £ 3,065 830 3,895 2024 £ 3,953 2,990 53,839 60,782 |
Furniture and equipment £ 37,741 690 38,431 18,665 7,638 26,303 12,128 19,076 2024 £ 3,065 830 3,895 2024 £ 3,953 2,990 53,839 60,782 |
Total £ 37,741 690 38,431 18,665 7,638 26,303 12,128 19,076 2023 £ 5,663 1,001 |
|
|---|---|---|---|---|
| 38,431 | ||||
| 18,665 7,638 |
||||
| 26,303 | ||||
| 12,128 | ||||
| 19,076 | ||||
| 2024 £ 3,065 830 3,895 2024 £ 3,953 2,990 53,839 60,782 |
||||
| 6,664 | ||||
| 2023 £ 2,104 2,467 8,237 |
||||
| 12,808 |
Page 29
Bruiser Theatre Company
Notes to the Financial Statements for the Year Ended 31 March 2024
14 Pension and other schemes
Defined contribution pension scheme
The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £3,007 (2023 - £2,427).
15 Funds
| 15 Funds | |||||
|---|---|---|---|---|---|
| Unrestricted funds General Designated Total unrestricted funds Restricted funds Total funds Unrestricted funds General Designated Total unrestricted funds Restricted funds Total funds |
Balance at 1 April 2023 £ (34,635) (70,479) (105,114) (79,456) (184,570) Balance at 1 April 2022 £ (17,118) (70,479) (87,597) (37,264) (124,861) |
Incoming resources £ (39,995) - (39,995) (311,521) (351,516) Incoming resources £ (31,969) - (31,969) (230,043) (262,012) |
Resources expended £ 23,661 - 23,661 299,347 323,008 Resources expended £ 14,366 - 14,366 187,937 202,303 |
Transfers £ 11,817 - 11,817 (11,817) - Transfers £ 86 - 86 (86) - |
Balance at 31 March 2024 £ (39,152) (70,479) |
| (109,631) (103,447) |
|||||
| (213,078) | |||||
| Balance at 31 March 2023 £ (34,635) (70,479) |
|||||
| (105,114) (79,456) |
|||||
| (184,570) |
16 Analysis of net assets between funds
Page 30
Bruiser Theatre Company
Notes to the Financial Statements for the Year Ended 31 March 2024
| Tangible fixed assets Current assets Current liabilities Total net assets 17 Analysis of net funds Cash at bank and in hand Net debt |
Unrestricted funds General £ Designated £ 2,173 - 97,761 70,479 (60,782) - 39,152 70,479 At 1 April 2023 £ 171,639 171,639 |
Restricted funds £ 9,955 93,492 - 103,447 Cash flow £ 86,198 86,198 |
Total funds £ 12,128 261,732 (60,782) 213,078 At 31 March 2024 £ 257,837 |
|---|---|---|---|
| 257,837 |
Page 31