Ragistered number: N1044664 The Grove Theatre Group Limited Unaudlted financial statsments For the year ended 30 June 2018
Th• Grovo Thoatre Group Llmitod Contents Page Company inlomiatlon Dirnctor8' report A¢¢ountants Rgport stst•m•nt of compr•h•n8iv• income Slatement of flnanclal posltlon Notes to th8 financlal ststomgnts 9-14
Th• Grov• Th•atr• Group Limltfjd Company Inforniation Olrectors Mr R CannirrfJ Mr M Mullan Mr P Doherty Company 80cretary Mr P Dohwty R•glstored number N1044664 Roglstored offke S WillN Tree Lane Culmore Ro*i Derry BT48 8TJ Charlty Number NIC103710 Businoss address Millennium Forum 6 Newmarkel Street Derry BT48 6EB Independent audltor8 McGroaty Mccafferty & Company Ltd AectyJntants and Registerad Audit(Ks 2 Carltsie Terrxe Oery BT48 6JX Bankers First Trust 8ank Meadowbank Strand Road Derry BT48 Sollcltors Mccartney Casey 34 Ca$lk Gate Derry BT48 6HG Page 1
The Grove Th•atra Group Limit•d Trustees, Annual Report (Incorporating the Directorfs Report> The trustees, who are also the directors present their rep(xl and the unaudited financMI statements of the charity for the year ended 30 June 2018_ Directors The directors land trustees> who seNed during the year were.. Mr R P Canning Mr P Doherty Mr M Mullan Structure. Governance and Managemont The company is governed and managed by the board of directh listed above. The registered office and details of other professional advisors are listed above. The board of director5 carry out their goVernare role throughout the year by way of periodic meetings lo review the performance of the company and lo make decisK)ns regarding the ccrfnpany's financial and operational mallers. The directors govern the activities of the company in line with the objectNes sel out in the goveming documents of the charity. namely the Memorandum and Artths ofAsSoCBtn and the charity's constitution, Objectlves and Actlvltles The princpal activty of the cc¥npany during the year was to promoie the developmonl of interested persons of all ages. gender. race and religious beliefs in the disciplines of the performing arts, stage management design and production planning and by its work, to create and deveb)p cross-cornmunity involvement so as to encourage and nurture underslarKling. tolerance. respect and frndsh. This is achieved by provhling:_ Weekly drama cla55es and workshops Street theatre adivilies Production of musicals, ptay¥ and pantomimes in Ictal venues During the past year the group perfomied musKals in the Millennium Forum and a pantom#ne in the Waterside Theatre. Other events included proVidg ghostly characters for the annual Halloween events in Derry-Londonderry. Throughout the year children aged betseen 7 and 18 attended weekly drama dasses in the Millennium Forum. Achi•v•m•nts and P•rformance The directors are satisfied with the performance of the ccKnpany during the year. in tems of both finan¢ial and operational results. They are also saIrIed that the charity's key objectives have been mel during the year. Flnanclal R•vl•w The net in-coming resources f(K the year was £2.112. This has been added lo the unRstricted reserves brought forward. The trustees aim lo have a reserve of al 8$1 Ihiee month$ operatiThJ expenditure al any given lime. Plans for Future Poriod8 There are no signrficanl changes planned for the forthcoming financial year. The directors will continue lo govem the ¢panY in line wrth the constitution in order lo achieve the company's objectives. The company is plannlng lo produce another musical in addition lo its annual pantomwne durirMJ the year ahead. Page 3
Th• Grov• Th•atT• Group Llmlt Trustses, Annual Report (Incorporating the Dlrector's Report) - continued Small companles. provlslon This repNxt has been prepared in accordants wilh the provIsn$ applicabte lo companies ent**d lo the small Companies exemption. The Iruslee5' annual report was appro¥gJ by the tM)ard on and signed on its behalf by:" Mr R P Canning FCA, MIOD Director Mr M M Mullan Director Date.. 28th March 2019 Date: 28th March 2019 Page 3
Th• Grove Th•atr• Gp Llmlt•d Independent ExamIne$ Report to the Trustses of The Grove Theatre Group Llmlted Fortho yoarondgd 30 June 2018 We report on the financial statements for the year ended 30th June 2018. whth comprise the slalemenl of financial &livitie5, Statement of financial FWitM)n and the related notes. Rogpe¢tiv• Responslbllltles of Trustees and Examlner The charity's trustees (who are also the direct$ of the ojmpany for the purposes of company lawl are responsible for the preparation of the aceounls in accordarKe with the requirements of the Companies Act 2006. Having satisfied ourselves that the charrty is not subject to audit under company law. and is eligible for independent exaninalion. rt is my responsibility to= Examine the accounts under seclion 65 of the Chariiies Act,. To fdlow the procedures laid down in the general DireCtS given by the Chartty Commission for Northern Ireland under s&tion 65(9llb} of the CharrtS Act.. and To stale whether particular matters have come lo my allentw)n. Basis of Independent Examlnefs Report We have examined your charity accounts as required under se¢lion 65 of the Charf(ies Act and our examirbation was carried out in accordance wrth the general DIrectnS given by the Chanty Commission for Northern Ireland under section 6519llb) of the Charities Act. The exanination included a review of the a¢¢ounling records kept by the charity and a cc*mparison of the accounts presented with those record$. 11 abo in¢luded ¢onsKleralion of any unusual items of disclosures in the a¢nts, and seeking expl8natw)ns from the ITuslees concerning any such matters. My role 1$ to stste whether any material matters have e to my attention gNing me Cause lo believe.. 1. That accounting re¢crfd$ were nol kept in accordae wilh seclion 386 of the Companies Act 2006 2. That the accounts do not accord with those a¢¢ounting records 3. That the accounts do not compty with the ac¢ountiThJ requiremen15 of section 396 of the Companies Act 2006 and with the methfrds and principab of the Char'rtts Slatemenl of Recommended Practice applicable lo chaIrtS preparing their accounts in accordance with the Ftnartial Reporting Standard applicable in the UK and Republic of Ireland 4. That there LS further infoimation needed for a proper understanding of the a¢¢ounts to be reached Ind0ndent Examlner's Statement We have ¢ompleted our eXInal and have no concerns in respect of the matters (1) to (4) listed above and, in ¢onne¢lion wilh the fdlowing the Directions of the Charity Ccmmmisston for Northem Ireland, we have found no matters that require drawtng to your attent¥)n. PJL4. For and on behaff of.. McGroaty Mccafferty & Company Lld Ac¢ounlanl$ and Registered Auditors 2 Carlisle Terrace Derry 8T48 6JX Dale.. i ts Fl ) i Page 4
Th• Grov• Th•atr• Group Llmlt•d ststement of Financial Activities (Includlng Income and expendlture account) For the year ended 30 June 2018 2018 2017 Income<haritable &tiwts'es 69,668 14,095 Expenditure on chantabte actiVrtS 167,5561 114.9401 Net Incomel{oxpandlturg1 and not movement in funds 2.112 1845) RKonclliation of lunds Total funds brought forward 4.727 5,572 Total funds carrled forward The statent of financial Xtivities includes an gain$ and losses recognr8ed in the year. All income and expenditure derive from continuing *lwrtie$. The notes on pages 12 to 14 fomi part of these finanual statwnents. Page 5
Tho Grove Thoatro Group Llmlted Notes to the financlal slat•ments For tho year ended 30 June 2018 Statsment of Financial Position As at 30 June 2018 2018 2017 Note Current Assets Stocks DebloTS Cash at bank and in hand 22.697 7.919 22.697 7.919 Creditors-. amounts falling due within one year 115.858) 13,192) Net Current Assets 6.839 4,727 Totsl Assets Lèss Curfmt Liabiliti8s 6.839 4.727 Net Assets Funds oftho Charity unreStrted funds 6.839 4.727 Totsl Charlty Funds F the year ending 30 June 2018 the charity was entiued to exemptKn frcrfn aLKJil under sec1ion 477 of the Ccthpanies Act 2006 relabng to small compans. Trustees, respon5ibilitie5'. The members have not required the charity to c&tain an audit of ils financial statements for the year In question in acc(Kdance with seclton 476. The trustees acknowledge their respSibIl[lS for COTnplying with the requirements of the Act Wtth respect lo accounting records and Ihe preparation of finarKval statements. These financial statements have been prepared in accnce with Ihe prOvisnS appIable lo companies $ubje¢l to the small companies, wvne. These financial stalemenls We approved by the board of truslees and authorised for issue on 29th March 2018. and are signed M behalf of the board by= Mr R Cannlng Director Mr M Mullan Dire¢lor Dale.. 28th March 2019 The notes ort pages 12 to 14 form part of Ihese financial statements. Page 8
Tho Grove Theatre Group Llmit•d Notes to thg financlal stat•m•nts For tho year endod 30 June 2018 G•n•rnl Infomiatlon The principal activity of the Gwpany is an amateur theatre group. The CpanY is a company liniled by guarantee and is incorporated in the Northern IrelaThJ. The address of rts registeied office is 5 Wilk)w Tree Lane. Culmore Road, Derry, BT48 8TJ. Statement of ¢omplianc• These financial statements have been prepared in compliance with United Kingdom Accounting Standards. including Financial Reporting Standard 102. "The Financk?l Reporting Standard applicable in Ihe United Kingdom and the Republic of Ireland" I'FRS 102.?, the Slalemenl of Recommended Practice applicable to charities preparing their xcounts in accordance wrth the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland IFRS102. charit SORP IFRS1021 and the Charities Acl (Northern IrelarKII 2008. Accounting pollcle8 3.1 Basls of preparation of flnan¢i•l statomonts The financial statements have been prepared on Ihe histor1 cost basis. as rnodifd by the r8valLJation of certain financial assets and liabilities and investment properties measured al fair value through income or expendiiure. The financial statements are prepared in steding. which is the functional currency of the entity. 3.2 Golng conc•m There are no material uneertaints about the chartys abilty to tInUe. 3.4 Revenue Revenue is recognised lo the extent thal it is probab that the economic benefits will flow to Ihe company and the revenue can be rdiabty measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates. value added lax and other sales taxes. Revenue is derived mainly from ticket sales and class fees. 3.5 Sto¢k$ Stocks are staled at Ihe hjwer of cost arKI net realISab value. Cost comprises materials and other direct prthjuction costs together with a prOportn of direct overheads rekvanl to the stage of ¢omple1i of work aThY progress aThJ finished gocxjs. 3.6 Debtors Short term debtors are measured al tranSactn price. less any wnpairment. Loans receivable are measured initially al fair value. net of transaction costs. and are measured subsequently al amortised cost usrng the effeclive inlerest methLJ. less any impaimienl. 3.7 Cash and cash equlvalents Cash is represented by cash in harKI and dep)sits with financial inslitulbons repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liqu investments that mature in no more than three months frc¥n the date of acquisitton and that are readily convertible to knthyn arnnts of with in$bJniftsnt risk of¢hange in value. Page 8
Th• Grov• Th•atrn Group Limit Notgs to the financlal statoments For the yearended 30 June 2018 3.8 Flnanclal Instrnm•nts The company only enters into basic financial instruments transactions that result in the recognition of financial asset5 arKI liabilit like trade and other accounts receivable and payable, loans from banks and other Ihird parties. bans to related parties and inveslmenls in non-pultable ordinary shares. Debt instruments lolher than those wholly repayable or receivable within one yearl, including loans and other accounts receivabk and payable, a initially measured al present value of the future cash flows and $ubsequenlly at amortised cosl using the effective interest method. Debt instruments that are payable or receivabte within one year, lypically trade payables or receivables. are measured. initially and subsequentty. at the undisc(MJnted amount of the cash or other consideration, expected to be paKS or received. Howeve( if the arrangements of a short-temi instrument constitute a finanong transxtK)n. Ie the payment of a trade debt deferred beyond normal business terms or financed at a rale of interest that is not a market rale or in case of an out-right short-lemi loan not at market rate. the ffinanci81 asset liability is measured. inrtially. at the present value of the future cash flow dtscounled al a markel fate of interest for a similar debt instrument and subsequenlly at amorttsed cost Financial assets that are measured at cost arNY amortised cost are assessed at the end of each reporting period for oty'eclive evidence of impairment. If ctjective evenCe of impairment is found, an impairment k$$ 15 recognised in the stslement of income and retained eaining$. For financial assets measured at amorlBed cosl, the impairment loss is measured as the drfference belween an asset's carrying amwnt and the present value of estimated cash flows dt5counled al the asset's original effective interest rate. If a finan¢ial asset has a variable interest rate. the dIunt rale for measuring any impaimienl ioss is the ¢urrenl effective interest rale delemiined under the contract For financial assets m&*ufed al cost impaiment. the impairment Ioss 15 measured as the difference ben an asset's Cang amcyjnt and best eslimale. which is an approximation of the amount that the company would receive the asset if it were to be sold al the balance sheet date. Financial as$e15 and liabilities are offset and the nel amount reported in the balance sheet when there is an enfwceable right lo set off the recognised amounts and there 1$ an intention to settle on a nel basis or to realise Ihe asset and settle the liability 5wnultaneously. 3.9 Crgditor8 Short term creditors are measured al the transaction price. Other financial liabilities, including bank loans. are measured inrtialfy at fair value, net of Irarbsaction costs. aJvJ are measured subsequently at amortised cost using the effectNe interest method. Page 8
The Grove Theatre Group Llmit•d Notes to thg financlal statements For th• yoar ¢nd•d 30 June 2018 Employgos There are employees in the charity. Sto¢ks 2018 2017 Work in progress Debtors 2018 2017 Other debtors Cash and cash oqulvalonts 2018 2017 Cash at bank and in hand Creditor8: Amounts falling duo wlthin one year 2018 2017 Tr&Je creditors 15,858 3,192 Movemont in Funds 2018 2017 Unrogtrlcted Funds Page 10
The Grov• Thoatr• Group Limft8d Notes to the flnancial sLgt•m•nts Forthe yearended 30 June 2018 10. Related party tran8actlon8 The were no related party transa¢iws in the per urvjgr review. 11. Limitod by Guaranteg The company is limited by guarantee arKI. therefore. there ts no issued share capital. 12. Transition to FRS102 These are the first financial slalements Ih* comply with FRS 102. The charity Iransilioned io FRS 102 on 1 July 2015. No transitional adjustments were required in the retained lunds or Income or expendilurg for the year. Pago 10