Reglstered number: N1044664 The Grove Theatre Group Llrnited Unaudltod flnanclal 8tatements For the year ended 30 June 2023 The Grove Theatre Group Llmltad Page 1 Contonts Page Company Infomiatlon Dlrectors, T•PQrt Accountants Report Statement of comprehen8lvo Income Statem•nt of financlal posltlon Note8 to th• flnancSal stat•mènts 8-11 The Grovè Theatra Group Llmlted Page 2 Company Infomiatlon Dlroctors Mr R Canning Mr M Mullan Mr P Dohety Company secretary Mr P Doherty Reglst•r•d numbor N1044664 R•glster•d offlco 5 Willow Tree Lane Culmore Road Derry BT48 8TJ Charlty Number NIC103710 Buslness address Millennium Forum 6 Newmarket Street Derry BT48 6EB Indep•nd•nt Examln•r• M¢Groarty McCaff8rty & Company Ltd Accountants and Tax C¢)nsultants 2 Carllsle Terrace Derry 8T48 6JX Bankers AIB (NII mead￿ank Strand Road Derry BT48 7TN Sollcltors Mccartney Casey 34 Castle Gate Derry BT48 6HG The Grove Thoalre Group Llmlted Page3 Trustees, Annual Report (Incorporating the Director's Report) The trusiaes, who are also the directors present their report and Ihe unaudited financlal statements of the Charity for the year ended 30 June 2023. Dlreclors The directors (and twsteesl who senied during the year were: Mf R P Canning Mr P Dohety Mf M Mullan Stru¢tur•, Govèmane8 and Managemant The company18 governed and managed by the board of directors listed above. Th8 reglslered offic8 and details of other professional advlsors are Ilsted above. The board of directors cany oul thelr governance role throughout the year by way of periodic meelings to review the perfonnance of the rnmpany and to make declsions regardin9 Ihe Company's financlal and operational matters. Th8 dlrectors govern the actlvitles ol the company in line with the oblectlves set out In the goveming dcKuments of the charity, namely thè Memorandum and Articles of Assoclatlon and the Gharity's constilution. ObJ8ctlv•8 and A¢llvltlos The prlnclpal acilvlty of the company during the year was to promote th8 development of Interested persons of all ages, gender, race and rellglous beliets in the di￿1p11nes of th8 performlng arts. stage managemènl d8slgn and production plannlng and by its work, to create arKI develop cross-communlty involvement so as lo encourage and nurtura undarstanding, lolerarte, respect and fr¢erKJship. Th18 Is achieved by providirvJ:" Weekly drama classes and workshops Street theatre a¢tlvlt188 Productlon of musicals, plays and pantomlmes In local venues During the pasl year the group perfomied a panlomime, and iwo muslcals. ona of vthich had been postpon8d due to the pandemic. The group has reslrlcted activities to post-prfmary ages upwards following tha easlng of r8strlctlons. There ar8 also no weekly drama classes olher than rehearsals for producilons. This will be kepl under revlew for the foreseeable future. A¢hlev•ments and Parlom)an¢• The directors are satlsfied wlth Ihe performance of Ihe company durlng tha year. in larms of both financl81 and operational results. They are also sallsfled that the charity's key obie¢tfves remaln the focus of Ihe board Flnandal Ravl•w The net oulgoing resources for the year was £5,052, This has been deducted to the unrestricted reserves broughl foDNard. The trust88s aim to have a reserv8 of at18ast thrae months operatlng expenditure al any given Ilme. Plans for Future P•rlods Ther8 are no significant changes planned for the forthcoming financial year other than those referred to above. The directors wlll contlnua to govem th8 company in line wllh the constltution in order to achleve the company's objectives. The company Is planning lo produce another muslcal in additlon to its annual pantomime during the year ahead, The Grove Theatre Group Llmlled Page 4 Trustees, Annual Report {Incorporatlng the Dlrector's Report) - continued Small companl08' provlslon Thls report has been prepared in accordance with the provlsions appllcable to companles entltled to th8 small Companies exemption. The trustees. annual report was approved by the board on 28 Mar¢h 2024 and signed on Its behalf by:" Mr R Cannlng Dlrector Mr M Mullan Director Dale: L81311* Dale: Tho Grove Theatre Group Llmlted Page 5 Independont Exarniner's Report to the Trustees of Tho Grove Theatre Group Llmlted For the year endod 30 June 2023 We report on the financial statements for the year ended 3011 June 2023. which comprlse the statement of financial aclivities, statement of financial position and the related notes. Respecllvo Responslbllltles of Trustees and Examlner The charity's trustees (who are also the directors of the company for the purposes of company law) are responsible for the pr8paratlon of tha acLounts in accordance with the requirements of the Companles Act 2006. Having satlsf18d ourselves that the charity is not sublect to audlt under company law. and is eliglble for independent examlnatlon, It Is our responsibilily to: Examine Ihe accounts under sectlon 65 of the Charilieg Act,, To follow the procedu￿$ laid down in the general Directions given by the Charity Commission for Northern Ireland under se¢lb)n 699)(bl of th8 Charities Act,. and To statè whether partlcular matters have come to our attentlon. Basls of Indèpend•nl Examlner's Report We have examined your charity accounts as requlred under section 65 of the Charitles Act and our examination was carried out in accordance with th8 general Dlr8Ctlons giv8n by the Charfty Comfflission for Northern lieland under Sectlon 6519Mb) of the Charities A¢l. The examlnalion included a review of the 8ccountlng r8cords k8Pt by the charlty and a comparison of the a¢¢ount8 presented wlth thos8 reGords. It also Included consideration of any unusual items of disclosures In the accounts and seeking explanatlons from the truslee8 ¢onceming ary Such matters, Our role18 lo slate whether any material matters have come lo our attention givlng us cause to believe.. 1. That accounting re¢￿d8 were not kept in accordance with 8ectlon 386 of the Companles Act 2006 2. That the accounts do not a¢¢ord wilh those accountlng records 3. That the accounts do not comply wlth the accounting requirements of sectlon 396 of the Cornpanies Act 2006 and wilh the methods and principals of the Charllies Statemenl of Recommended Practlce applicable lo charltl88 preparlng thelr accounts in acLordance wlth the Flnancial Reportlng Standard applicable in the UK and Republic of Ireland 4. That there Is further informatlon needed for a proper understanding of tha accounts to be reached Indep•nd•nt Examlner's Statement We have completed our examlnallon and have no concems in 18spect of the matters11 I lo (41 Il$t8d above and, in connectlon wtth th8 follovArKJ th8 Directions ol the Charlly Commlsslon f¢Y Northem lieland. we have found no matters Ihat require drawlng lo your attentlon. For and on behalf of: McGroarty Mccafferty & Company Ltd Accountants and Tax Consuliants 2 Carlisle Terrace Derry BT48 6JX Date: The Grove Theatre Group Llmttèd Page 6 Statement of Financial Activities (including income and expendlture account) For the year ended 30 June 2023 2023 2022 Income-charitsble aclivities 99,532 15,057 Expends￿re on charltable actwities {94,480) {18,259) Net Incomellexpendltur•) and net movement In funds 5,052 (3,202) Roconclllatlon of fund• Total funds brought fO￿ard 15,840 19,042 Total funds carrl•d forward The slalement of finAnclal actlvMl8s Includes all gains and losses recognlsed in the year. All Income and expendllure dérlve from continuing a￿1Ville$. All Incomlng and outgoing rescwrces are non r8slrlcted. The nole8 on pages 8 to 11 forni part of these financial statements. The Grove Theatre Group Llmited Pago 7 Statement of Flnanclal Posltlon As at 30 June 2023 2023 2022 Note Flxed A880ts 1,250 1.875 Curr•nt Assets Stock5 Debtors 750 Cash at bank and In hand 25,824 11,155 26,574 15,215 Credllors: amounts falling due within one year 16,932) (1,2SO) Not Curronl Ass•ts 19,642 13,965 Total Assets Lo$9 Curr•nt Llabllltl 20,892 15,840 Not Assots Fund• of the Charlty Unrestr6cted funds 20,892 15,840 Tolal Charfty Funds For the yèar endlng 30 June 2023 the charity was entitled lo 8x8mpllon from audit under section 477 of the Companles Acl 2006 relatlng to 8mall companles. Trustees. rèsponslbllllles: The members have noi required the charity to obtaln an audll of Its financial statemenls for lh8 year In quesllon In accordance with saction 476: The Irusle88 acknowledge their responsibilities for complylng wlth the requirements of the Act wlth respect to accountlng r8COfds and the preparation of financlal statement5. These flnanclal statements have been prepared in accordance wlth the provisions applicable to companlos suty'ect to the small compani8s' reglrne, These financlal statements w￿re approved by the board of trustees and aulhorised for issue on 281h March 2024 and are slgned on behalf ofthe board by: Mr R Cannlng Director Mr M Mullan Director Date: The Grov• Theatre Group Limited Payg The notes on pages 8 to 11 fomi part of these financial ststemenls. Goneral Infomiatlon The prlncipal actsvty of the company is an amateur theatre group. The company Is a c+Jnpany limited by guarante8 and Is Incorporated in the Northern Ireland. The address of Its registered office is 5 Willow Tree Lane. Culmore Road, Derry. BT48 8TJ. Statement of compllance These financlal ststements have been prepared in compliance wlth United Kingdom ArxounliNJ standards, including Financl81 Reporting Standard 102, "The Financlal Reportlng Standard applicable in Il* Unlled Kingdom and the Republic of Ireland" ("FRS 102"), th8 Statement of Recommended Practice ar¢)Ilcable to charities preparing iheir a¢counls In accordance with the Financial Reportlng Standard aFf)IKable in Ihe UK and Republlc of Ireland {FRS102, Charities SORP (FRS1021 and the Charitios Acl (Nixthern IrelarKI) 2008. Accountlng pollcles 3.1 Bas18 of proparallon of Ilnanclal stat•ments The financlal statemenls have boen prepared on the hlslorical cost basis. as modlfled by the revaluation of certain financlal assels and Ilabllities and investment propertles measured al fair value through Income or expenditure. The financlal statements are Pfepared In sterllng. whlch Is the funGtional ¢urr8ncy of the entity. 3.2 Golng con¢•rn There are no materfal uncertalnlles about the thaiity's ability to contlnue. 3.4 R•v•nu• Revenue is recognised lo the extent that It Is probable that the economlc benefits will flow to the company and the rev8nu8 can b8 rellably measured. Revenuè Is measured as the fair value of the Consldeiatlon recelved or receivable, excludin9 discounts, rebates, value added tax and other sales taxes. Revenue Is derlved malnly from ticket sales and cla88 fees. All revenue is fr(yn non- rastricted sources. 3.5 Stocks Stocks are slated at the lower of co81 and net realisable value. Cost comprises materia15 and other direcl producllon costs together wllh a proportion of direct OV8rh8ads relevant lo the stage of (Mnplelion of w¢yk and progress and finlshed goods. 3.6 Dèblors Short term debtors are measured at transacllon price, les5 any impalrm8nt. Loans receivable are m8asur8d initially at fair value. net of transaction costs, arKI afe measured subsequentty al amorti5ed ost using the effectlve Interest method,18ss any impaim)ènt. 3.7 Cash and cash equlvalents Cash18 repr&8ented by cash in hand and deposits wlth financial institutions repayable wlthout penalty on notice of nol more than 24 hours. Cash equivalents are hi9hly liquid inveslments that mature in no more than three monlhs from tha dale of acqulsition and Ihat are ￿adIlY conv8rtlbl8 to krK)wn amounls of cash with insignificant risk of chango in value. The Grove Theatre Group Limited Paga 3.8 Flnan¢lal Instrumants The company only enlers into basic financial instruments transactions that result in the re¢ognitlon of financial assets and Ilabililies like trade and other accounts receivable and payable, loans from banks and olher Ihlrd partles. loans to related partles and Inv8Stm8nts in nonvputtable ordinary shares. Dèbt Instruments (other than those wholly repayable or receivable wlthln one year). including loans and other accounts receivable and payable, ar8 Inltially measured at present value of the future cash flows and subsequenlty al amortised cost uslng the effeclive interest method. Debt instruments that are payable or re￿1vable within one year, lypi¢ally trade payables or receivables, aré m8asur8d, inlilally and subsequently, at the undiscounled amount of the cash or other consideratlon, expecled lo be pald or received. However rf the attang8m8nls of a short-lenn Instrument constitute a financing transaction, like the payment of a trade debl deferred beyond r￿rMal buslnèss terms or financed al a rate of Interest that Is not a markel rate or In case of an out-right short-term loan not al market rate, the finarKial asset or liabllity Ss measured. initially. al the present value of Ihe future cash flow dlscounted at a markel rate of Interest for a similar debl instrumènt and subsequently at amortlsed cost Financial assets that 8re measured al cost and amortls8d cost are assessed at Ihe end of each reporting period for oblectlve evidence of impairment. If oblectlve evidence of impalrment Is fourKI, an Impairment1055 1$ recognised In the staternent of in¢ome and retained earnings. For financial assets measured at amortised cost, Ihe Imp8lrm8nt loss Is measured as the difference between an asset's ¢arrylrKJ amount and the present valu8 of estlmated cash flow$ dl$countéd al the asset's origlnal effectlve interest rale. If a financlal asset has a variable inter8st rate. tho discounl rate for measurlng any impairment108s Is the current eff8clive interest rate determlned under the ¢ontracl. For finandal assets measured at cost less Impalrment. the impairment loss Is m8asur8d as the difference between an asset's carrying amount and best estlmate. which is an approxlmallon of the amount that the company w¢)uld recelve for the asset if il were to be sold at the balance sheet date. Flnanclal assets and liabilities are offset and the net amount reported In Ihe balance sheet when Ihere is an enforceable rlght to set off the recognlsed amounts and there18 an Intenllon to settle on a nel basls or to realise the asset and 8ètt18 the liability simultaneously. 3.9 Credltorn Short term creditors a￿ m8asur8d at the transaction price. Other financial liabililles, Includlng bank loans, are measured initially at falr value, nel of Iransaclion costs, and ara measured subsequently at amortlsed cost U51rvJ the effe¢live interest method. Th• Gmve Thèatre Group Llmlted Page 10 Notes to the financlal statements Fortho year ended 30 June 2023 Employ• There are no employees In the d￿ritY. Stocks 2023 2022 Work in progress Debtors 2023 2022 Other debtors Cash and cash oqulvalont8 2023 2022 Cash at bank and In hand Cradltor8: Amounts falllng du• wlthln oné y•ar 2023 2022 Trade creditors 6,932 1,250 Movement In Funds 2023 2022 Unrestrlcted Funds Tho Grove Theatre Group Llmltèd Page li Notes to Ihe financlal statements For the year ondèd 30 June 2023 10. Related party transactlons There were no related party transactlons In the perfod under review. 11. Llmltad by Guarantee The company Is Ilmlled by guarantee and. therefore. there is no Issued share capltal. 12. Translllon to FRS102 These a￿ the first flnandal staièm8nts that comply with FRS 102. The charity transitioned to FRS 102 on 1 July 201 S. No transitional adlustments were requlred in the retained funds or income or expenditure for the year.