Arnmgh Theatre Company Limited Statement of Financial Activlties Year Ended 1" July 2024 2024 Unrestrtcted Totsl Unrestricted Total Note Income and endowments fronr. Donations and legacies Charitsble athities Investments 2.805 16.053 27,238 12 Total income and endowments 27.250 18.860 Expendtture on: Ch2fitab!e athiit fj6.393 9.212 Total expenditure 16.393 9,212 Net Income 10,857 Net movement in funds 10.857 9.648 Reconciliation of funds= Total funds brought foprtard 12 102.690 93,042 Total fun¢ls carried forward 12 113.547 102.690 All income and expenditure derive from contillUTng aclivilies. The statement of financial acbvitses indudes all gains and losses rec3Jgnised during the year.
Amiagh Thea Company Limited Summary Income and Expenditure Account Year Ended 1" July 2024 2024 2023 Note Income Interest arKI irjvestrnent inojme 27.238 12 18,858 Gross inGome 27.250 18,860 Expenditu Depreciation and impairment charges 15,510 8.035 1.177 Total expendire 16.393 9.212 Not Income 10,857
Amiagh Theatre Company Limited Balance Sheet Year Ended 1" July 2024 2024 2023 Flxed assets Tangible assets 75,244 76.126 75.244 76.126 Current assets Prepayment Cash at bank and in hand 1.097 57.453 1,050 46.201 Net current assots 58,550 Total assets 133.794 123,377 CreditOTS: amounts falling due withln one year 10 2,747 3,187 Net assets 131,047 120,190 Charity Funds UnrestrÈcted funds Restricted funds 12 12 120.190 10,857 102.690 17.500 Totsl charity funds 12 131.047 120.190 The directors are satisfied that the (x)mpany was entitled to eXeMpOn from audit under section 477 of the Companies Act 2006 and that Memrg have not rèquired an audtt in accordano with sectton 476. The dirr5 acknowledge their responsibilities for. ensuring that the company keeps accy)unting T0¥ which comply with the Act" and preparing accounts which gtve a true and fair view of the slate of affairs of the chartiable company as at the end of the financAal year and of its profit or Ios5 for the financial year In accordan with the requirements of the ACL and which olherwise o)mply with the requirements of this Ad relating to accounts, so far as applicable to the charitable company. These accounts have been prepared In aG(x)F(Iar wilh the provislons apIGable to companles sub]ect to the small companies regime. The financial statements were apprOd and authorised for issue by the Board on 5th Marth 2024. of truste Signed on behaiT OT Mr W T Hanna, Trustee 9th January 2025 The notes on Foges 8 to 13 fomi part of these finap.aal *atwnen Company registration number. N133485
Arniagh Thoatro Company Limited Notes to the Financial Staternents Year Ended 1" July 2024 Summary of significant aGcountlng polici•s (a) General Infomtion and basts of preparatlon Armagh Theatre Company Limited is a company limited by guarantee in Northern IrelarKI. 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 grven in the charity inf0Mtion of these finandal statements. The nature of the ¢hartVs operations andprincipal activities are to advance the education of the general public by the prrxjuction of theatre and plays. arity Cx)nstitU a public benofft entity as defined by FRS 102. The flnancial ststemerrts have bn prepared in accordanp with Aca)unting and Reporting by Charities: Statement of Recommended practi applic8ble to charibes preparing their accounts in aC0)rdan with the Financtal Reporting Standard applicable ip. the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)), the Companies Act 2006 and UK Generally Accepted Practice. The charity dces not ndude a (xsh fk)w statement on the grounds that it is apptying FRS 102 Section 1 The financial staiements a prepared on a going conrn basis under the historical aist convention. mc*Jffied to indude certain items at fair value. The fin2npi31 ststements are presenteil in sterflng whjch is the fvnctional currency of the tharity and rounded to the nearest £. The signtficant aco)unting Fdictes applied in the preparation of these financial statements are set out below. These polioes have b&n oinsistenty appfied to all year5 presented unless (b) Funds Unrestricted fijnds are available for use at the discretion of the trustees In fjJrtheran of the general objectives of the tharity and which have not been designatsd for other PUTPDses. (c) Income recognition All incoming reSoUrS are induded in the Statement of Financial Activities (SOFA) when the charity is legally entrlled to the income after any perf0mlan conditions have been met the amoijnt on be measured rpliably. and it is probable that the InMe wll be received. For donations to be recognised the charity wdl have been notified of the amounts and the settlement date in writing. Ir there are condilions attached to the donation and this requires a level of perf0rnan before enttdement can be obtsined. then income is deferred until those nditions are fvlty met or the fijlftlment ot thre conditions is within th8 control of the charity and it is probable that they will be fulfilled. Donatèd facilities and dOnaj professional services are recognised in in)Me at their fair value when their economic benefft is probable, tt can be measur&1 reliably. and the charity has (x)ntrol over the item. Fair value is detemiined 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 facilities and ser¥ices. A corresponding amount is regnised in e>penditure. No amount is included in th8 financial statements for volunteer time in line wtt) the SORP (FRS 102).
Annagh Theatre Company Limited Notss to the Financial Statements Year Ended 1 July 2024 contdl The charity [VeS grants in respect of fixed a&%els. Income from govemment and other grants are remgnised at fair value when the chartty has entitlement after any perforrnan i))nditions have been mec it is probable that the inrne will be reived. and the amunt can be measured reltably. If entitlement is not mec then these amounts are deferred. Investment inct)me is eamed through hokling assets for investment puryjjses. It indudes iTrterest Interest income is reo)gnised using the effective interest method. (d} Expendire recoghtuon All expendtture is a)unted for on an accruals basis and has been classified under headings that 899regale all GE75ts related to the tegr)ry. Expenorture is recognised where there is a legal or constructNe obligation to make paTrents to third parties. it is probable that the spttEement witi be required. and the amount of the obligation Gan be measured reliabty. tt is categortsed under the follt)wing headings-. Exponditure on d)8ritabIe activities indudes prc*duGtion expenditure: ar Other expenditure represents those items rh)t falliro into the categw above. Irrecoverable VAT is charged as an expense against the activity forwhith ewenditure arose. (e) Support Costs allocation Support Costs are those that assist tr worf( of the charity but do not rfweclly represent tharitsble actrvities and indude office costs and premises )Sts. They are incurred directly in support of expaiditure on the objects of the chartty. Fur{aiSing costs are Ihose incajrred in seeking voluntary contributions and do not indude the costs of ¢f15semin8ttng informalion in support of th8 charitabte athibes. The analysis of these costs 18 induded in note 6. (fj Tangible red a&8ets Tangible fixed assets are stated at ¢Jxt (or deemed cost7 or valuation less a(Kumulated depreaation and accumulated impaiment Irtsses. Cost includes )sts direcdy attributalle to making the asset capable of operdting as intandad. Depreciation is provided on all tangible fixed assets. at rates li#JIated to lte off the cost. 153S estirnated residual value. of each asset on a systematic basis over Tts expected us8ful lrfe as follows: Fjxtures and f:ttirys 25% reducing bala (g) Debtors and creditors receivable I payable wilhin one year Debtors and credttors with no ststed interest rate and receivable or payable within one year are rrded at transaction prtce. Any losses arising from impaiFment are recognised in exper.sditure. {h) Impairmerrt Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balan sheet date. If such indication e$ts. the reVerable amount of the asseL or the asset's cash generating unit, is estimated and )mPared to the carying amount IMJere the carrying arnount exceeds its re0)Verab amoun( an impaimerrt loss is recognised in profft or k)ss iinle&s the 8sset is rried at a revalued amount where thÈ impaimi@nt loss is a revaluation decrease.
Armagh Th•atra Company Limited Notes to the Financial Statements Year Ended 1" July 2024 contsv (i) Tax The tharity is an exempt charity within the meaning of schedul8 3 of the Charities Act 2011 and 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 COOratiOn tax purposes. l Golng concem The financial statements have bn prepared on a going concem basis as the trustees befieve that no matarial uncertainties exisL The trustees have considered level of fup.ds he.ld and the expected levÈl of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is suffictent with level of resetves for the charity to be able to continue as a going c%)nc£m. (k) Judgements and key sources of estimation uncertainty The trustees do not feel there any material judgements or key sow¢es of estimation uncertalnty in these accounts. Income from donations and legacles 2024 2023 Gifts Other 2.805 2.805 All income was aknknble to unrestrid&J funds. Income from charitable aclivlties 2024 2023 Income from productions Members subscrtptions Performance related grants 25.250 1.235 753 13.881 1,168 1.004 27.238 16,053 Income from tharitsble aclivities was attributable to unrestricbd funds. Grant income was released from deferred in(a)me this Wds received for capital equipment Income from investsnents 2024 2023 Interest. deposits 12 12 Income from inve*meitt was attributable to unrestricted funds. 10
Armagh Theatre Company Limited Notes to the Financial Statements Year Ended 191 July 2024 contdl Analysis of expenditure en charitable activitAes ActNibes Undertak direGty Support ccsts Total Production actiwties 9.773 16.393 9.773 6,620 16.393 All of the above rnsts We attributable to unrestricted funds. Allocatton of support costs Production Support cost Total Depreciation Office costs Other 4.713 1,024 4.713 1.024 Total 6.620 6,620 Net income for the year Net income rs ststed after charging l (credtbng): 2024 2023 Depreciation of tangible f1 assets Capital grydnt release 883 {753) 1.177 (1.1]IN) Trustees. and key management personnel remuneration and expenses The trustees nerther reiVed nor waived any remuneration during the year (2023: £Nil). The truslees dld not have any 8xpenses reimbursed durlng th8 year (2023- £Nll). 11
Amiagh Theatre Compony Limited Notes to the Financial Statements Year Ended 1" Juty 2024 contdl Tanglble fixed assets Fixtures and ffttings Land and buildings Totsl Cost or valu*ion: At 2ThJ July 2023 Additions Disposals Revaluation At 1st July 2024 76,829 17,993 94.822 76.829 17.993 94.822 Depreciation: At 2n0 Juty 2023 Charge for the year Impairment Revaluation Eliminated on disFosals At 1st July 2024 4,233 14.464 18,696 883 4.233 15,347 19.580 Net book value: At 1st July 2024 72,596 At 1st July 2023 72.596 3,530 76,128 - The net book 4alue rf l&A and buil4 ings Cwiprised". 2024 2023 Land and buildings: 72,596 72.596 72.596 72.596 Certain treehold land and tIklIngS included above were recg>gnised using a previous valuation as a deemed cost on trdnsition to SORP (FRS 102 10 Creditors: amounts falllng due after more than one year 2024 2023 Accruals and deferred income 2,750 3.188 2.750 3.188 11 Deferred Income Total At 2nd July 2023 Additions during the ye8r Amounts released to Income 3.010 3,010 (753) (753) At 1st July 2024 2,257 2.251 Income has been deferred on grants r1Ved for capital purchases. 12
Arniagh Theatre Company Umlted Notes to the Financial staterne Year Ended 1 Juty 2024 oontdl 12 Fund rAcDnelli2tlon Unrestrscted funds Balan Batance at 1st July 2024 2r¥i July 2023 Income Expenditure Unrestricted Revalualion 102.690 17.500 27,250 16.393 113,547 17.500 120.190 18.860 Fund descrlptlons a) Unrestricted funds Unrestrtcted funds are fvnds whith can be spent for any chaTitable purp)ses of the company. 13 Analysis of net assets between funds Unrestrfcted fvnds Total FIX& assets Cash and Current investments Creditors more than one y&3r 75.244 75244 58.550 (2.74n (2.74n Total 131,047 131.047 14 Related party transaction5 There are no related paty tra[dIonS during the period (2023: £ nil). 13