Charity registration number: NIC102426 Company registration number: N133485 Armagh Theatre Company Limited Financial Statements Year Ended 1st July 2023
Annagh Theatre Company Limited Financlal Statements Year Ended 1st July 2023 Contents Page Charity Reference and Administrakn've Details Trustees. Annual Report (Including Director's Report) Independent Examiner's Report Statement of Financial Activities (Including Income and Expenditure Account) Balance Sheet Notes to the Financial Statements 8-13
Arniagh Theatre Company Limited Charity Reference and Admlnistrative Details Year Ended 1 st July 2023 Charity registration number NIC102426 Company registration number N133485 Trustees Mr W T Hanna Mrs B Heaney Miss A Kelly Mr B Lamb Registered OlTice clo 1 Tower Hill Close Armagh Co Armagh Bt619HY Accountant WHR Accountants 26 The Square Moy Co Tyrone BT717SG Bankers Bank of Ireland 11 Upper English Streel Armagh
Armagh Theatre Company Limited Trustees, Annual Report (Including Directors. Report) Year Ended 1" July 2023 The Tnjstees present their report and the financial ststements of the charity for the year ended 1 St July 2023. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (FRS 102) in preparing the annual report and financial statements of the charity. The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's goveming document, the Charities Act and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland. Trustees of the charity The directors of the charitable company are its trustees for the purposes of charity law. The trustees who have served during the year and since the year end were as follows: Mr W T Hanna Mrs B Heaney Miss A Kelly Mr B Lamb Objectives and activities The purpose for which the charity is established is to advance the education of the general public by the production of theatre and plays. The direct benefits which flow from this purpose are: Enhancement and wellbeing and appreciation of the Arts The enjoyment and better understanding of the Arts Expanding the educational and learning experience through the medium of live theatrical performance These benefits are evidenced through: Regular feedback from audiences Photolvideo documentation There is no hann arising out of our purposes. The charity's beneficiaries are-. Primarily members of the public in Arniagh City and its environs but extending further afield when touring certain productions. There is no private benefrt flowing from our purpose. This year we retumed to normal busines5, Post covid. My Brilliant Divorce travelled to the Craic Theatre in Coalisland and the Garage Theatre in Monaghan in the autumn. November saw a major productton of Impact, Armagh's Train Disast@r in the Studio Theatre of the Market Place, Armagh. June saw a productlon of Bleak Expectations over 2 weekends in Abbey Lane Theatre. Open Mic Nights were held monthly in Abbey Lane Theatre. A youth Drama group commenced in September with 15 young people participating and this continued through to June with 2 show case productions.
Arn7agh Theatre Company Llmited Trustees, responsibilities The trustees (who are also directors of Arniagh Theatre Company Limited for the purposes of company law) are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom GeneraNy Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for e8ch financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these fjnancial statements, the trustees are required to: select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charities SORP: make judgements and estimates that are reasonable and prudent state whether applicable UK Accounting Standards have been followed, subject tr) any material departures disdosed and explained in the financial statements. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The trustees are responsible for keeping adequate accounting records that disdose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taktng reasonable steps for the prevention and detectFon of fraud and other irregularities. On bahalf of the boa qF,11 Mr W T Hanna. Trus 5th March 2024
Arniagh Theatre Company Limited Independent Examinerfs Report Year Ended 1st July 2023 I report on the accounts of the company for the year ended 1st Juty 2023 which are set OLrt on pages 5 to 13. Respective responsibilities of trustees and examiner As the charity tru5tee5 (and also the directors of the cornpany for the purposes of company law) you are responsible for the preparation of the accounts in accordan with the requirements of the Companies Act 2006. Having satisfied myself that the charity is not subjecf to audit under company law. and is eligible for independent examination, it is my spOnsIbl{1ty to: examine the accounts under section 65 of the Charities Act; follow the procedures laid down in the general Directions given by the Charity Commission for Northem Ireland under section 65(9)(b) of the Charities Act., and stste wheiher particular matters have come to my attention. Bas of independent examiner's report I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordan with the general Directions given by the Charity Commission for Northem Ireland under sectton 6519)(b) of the Charitles Act. The examination Induded a review of the %counting records kept by the charity and a comparison of the accounts presented with those records. It also indudes consideration of any unusual ttems or disclosures in the accounts and seeking explanations f10m you as Charity trustees conceming any such matters. My role is to state whether any material matters have come to my attention giving me cause to believe: 1. That accounting records were not kept in accordan with section 386 of the Companies Act 2006 2. That the accounts do not accord with those accounling records 3. That the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland 4. That there is further information needed for a proper understanding of the accounts to be reached. Independent examiner's ststement I have completed my examination and have no concems in respect of the matters (1) to {4) listed above and, in connection with following the Directions of the Charty Commission for Northem Ireland, I have found no matters that require drawing to your attention. Andrew Gilpin ACCA WHR Accountants Ltd 26 The Square Moy Co Tyrone BT717SG 5th March 2024
Armagh Theatre Company Limited Statement of Financial Activities Year Ended 1$t July 2023 2023 Unrestricted Total 2022 Unrestricted Tolal Note Income and endowments from: Donations and legacies Charitable activities Investments 2.805 16,053 130 7,012 Total income and endowments 18,860 7,142 Expenditure on: Charitable activities 9,212 4,612 Total expenditure 9,212 4,612 Net income 9.648 2.530 Net movement in funds 9,648 2.530 Reconciliation of funds: Total funds brought forward 12 93,042 90,512 Total funds carried forward 12 102,690 93,042 All income and expenditure derive from continuing activities. The statement of financial activities includes all gains and losses reCgnISed during the year.
Armagh Theatre Company Limited Summary Income and Expenditure Account Year Ended 1st July 2023 2023 2022 Note Income Interest and inveslment income 18,858 7.142 Gross income 18,860 7,142 Expenditure Depreciation and impaimient charges 8,035 1.177 4.379 233 Total expenditure 9,212 4,612 Net income 9,648 2,530
Armagh Theatre Company Limited Balance Sheet Year Ended 1st July 2023 2023 2022 Fixed assets Tangible assets Note 76,126 72,393 Current assets Prepayment Cash at bank and in hand 76,126 72,393 1,050 46,201 916 37.668 Net current assets 47,251 38,584 Total assets 123,377 110.977 Creditors: amounts falling due wlthin one year 10 3,187 435 Net assets 120,190 110.542 Charity Funds Unrestricted funds Restricted funds 12 12 102,690 17,500 93,042 17,500 Total charity funds 12 120.190 110,542 The directors are satisfied that the company was entitled to exemption trom audit under section 477 of the Companies Act 2006 and that members have not qUired an audit in accordan with section 476. The directors acknowledge their responsibilities for.. ensuring that the company keeps accounting records which comply with the Act.. and preparing account5 which give a true and fair view of the state of affairs of the charitable company as at the end of the financial year and of rts profit or loss for the financial year in accordance wtth the requirements of the Act, and which othejwise comply with the requirements of this Act relating to accounts, so far as applicable to the charitable company. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved and authorised for issue by the Board on 5th March 2024. Signed on behalf of the board of trust Mr W T Hanna. Trustee 5th March 2024 The notes on pages 8 to 13 fonn part of these financial statements. Company registration number N133485
Arniagh Theatre Company Limited Notes to the Financial Statements Year Ended I" July 2023 Summary of slgnificant accounting policles {a) General infonnation and basis of preparation Armagh Theatre Company Limited is a company limf(ed by guarantee in Northern Ireland. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is gtveTr in the charity infomation of these financial statements. The nature of the charity's operations and principal activities are to advan the education of the general public by the production of theatre and plays. The charity constitutes a public benefit entity as defined by FRS 102. 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 Stsndard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP {FRS 102)). the Companies Act 2006 and UK Generally Accepted Practice. The charity does not include a cash flow ststement on the grounds that it is apptying FRS 102 Section 1A The financial Statements are prepared on a going concern basis under the historical cosl convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied lo all years presented unless otherwise stated. (b) Funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. (c) Income recognition All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income after any performance conditions have been met. the amunt can be measured reliably, and it is probable that the income will be received. For donations to be recognised the charity will have been nolified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained, then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled. Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably. and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example, the amount the charity would be willing to pay in the open market for such faciltttes arKI services. A corresponding amount is reGognised in expenditure. No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102).
Amiagh Theatre Company Limited Notes to the Financlal Statements Year Ended 1st July 2023 contdl The charity receives grants in respect of fixed assets. Income from govemment and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met. it is probable that the income will be reived, and the amount can be measured reliably. If entttlement is not met, then these amounts are deferred. Investment income is earned through holding assets for investment purposes. It includes interest. Interest income is recognised using the effective interest method. (d) Expenditure recognition All expenditure is accounled for on an accruals basis and has been classrfied under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties. it is probable that the settlement will be required, and the amount of the obligation can be measured reliabty. It is categor¢sed under the following headings.. Expenditure on charitable activities includes production expenditure- and Other expenditure represents those items not falling into the category above. Irrecoverable VAT is charged as an expense against the activity for which expenditure arose. (e) Support costs allocation Support costs are those that assist the work of the charity but do not directty represent charitable activities and include office costs and premises costs. They are incurred direcuy in support of expendtture on the objects of the Charity. Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. The analysis of these costs is included in note 6. (fj Tangible fixed assets Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. DepreGiation is provided on all tangible fixed assets, at rates calculated to write off the cost less estimated residual value, of each asset on a systematic b35is over its expected useful life as follows: Fixtures and fittings 25 % reducing balance (g) Debtor5 and creditors receivable I payable wEthin one year Debtors and creditors with no stated interest rate and reoivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. (h} Impaimient Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless Ihe asset is carried at a revalued amount where the irnpairment loss is a revaluation decrease.
Arniagh Theatre Company Limited Notes to the Financial Statements Year Ended 1st July 2023 contdl (i) Tax The charity is an exempt charFty within the meaning of schedule 3 of the Charities Ad 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a Charitable company for UK corporation tax purposes. ti) Going concern The financial statements have been prepared on a going concem basis as the trustees believe that no matertal uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going conM. (k) Judgements and key sources of estimation uncertainty The trustees do not feel there any material judgements or key SoUeS of estimation uncertainty in these accounts. Income fr¢>m donations and legacies 2023 2022 GFfts Other 2,805 130 2,805 130 All income was attributable to unrestricted funds. Income from charitable activities 2023 2022 Income from productions Members subscriptions Perfonnance related grants 13,881 1.168 1.004 5,703 1,164 145 16,053 7,012 Income from charitable aotivities was attributsble to unrestricted funds. Grant income was released from deferred income this was received for capital equipment. Income from investments 2023 2022 Interest- deposits Income from investrnent was attributable to unrestricted funds. 10
Amiagh Theatre Company Limited Notes to the Financial Statements Year Ended 1st July 2023 contdl Analysis of expenditure on charitable activities Activities undertaken directly 2,197 Support costs Production activities Total 7,015 9,212 2,197 7,015 9.212 All of the above costs were attributable to unrestricted funds. Allocation of support costs Support cost Production activities Total Depreciation Office costs Other 1,177 327 5.511 1,177 327 5,511 Total 7,015 7,015 Net income for the year Net income is stated after charging l (credrting)- 2023 2022 Depreciation of tangible fixed assets Capital grant release 1,177 (1,004) 233 (145) Trustees, and key management personnel remuneration and expenses The trustees nerther received nor watved any remuneration during the year (2022.. £Nil). The trustees did not have any expen*s reimbursed during the year (2022 - £Nil). 11
Arniagh Theatre Company Limited Notes to the Financial Statements Year Ended 1st July 2023 contdl Tangible fixed assets Fixtures and fittings Land and buildings Cost or valdatloil.. At 2nd July 2021 Addiilui-lb Disposals evaluaiion At 181 July 2022 Total 75,929 13,983 89,912 76,829 17,993 94.822 Depreciation= At 2nd July 2021 Charge for the year Impairment Revaluation Eliminated on disposals At 1S1 July 2022 4,233 13.286 1,177 17,519 1,177 4,233 14,463 18,696 Net book value: At 1$t July 2023 72,596 3,530 76.128 At 1st July 2022 71,696 The net book value of land and buildings comprisea: 2023 2022 Land and buildings.. Freehold 72.596 72,596 71,696 71,696 Certain freehold land and buildings included above were recognised using a previous valuation as a deemed cost on transition to SORP (FRS 102). 10 Creditors: amounts falling due after more than one year 2023 2022 Accruals and deferred income 3,188 435 3,188 435 11 Defrthrred invome Tot21 At 2p,d July 2022 Additions during the year Amounts released to income 435 435 3,579 3,579 (1,004) {1,004) At 1st July 2023 3,010 3.010 Income has been deferred on grants received for capital purchases. 12
Armagh Theatre Company Limited st Notes to the Financial Statements Year Ended 1 July 2023 contdl 12 Fund reconciliation Unrestricted funds Balance at 2nd July 2022 Balance at 1M July 2023 Income Expenditure Unrestricted Revaluation 93,042 17.500 18.860 9,212 102,690 17,500 110.542 18,860 9.212 120,190 Fund descriptions a) Unrestricted funds Unrestricted funds are funds which can be spent for any charitable purposes of the company. 13 Analysis of net assets between funds Unrestricted funds Total Fixed assets Cash and current investments Creditors more than one year 76,126 47,251 (3,187) 76,126 47.251 (3.187) Total 120,190 120.190 14 Related party transactions There are no related party transactions during the period (2022: £ nil). 13