Three's Theatre Company Ltd Company Limited By Guarantee Statement of Financial Activities Including Income and Expenditure account For the year ended 31 July 2024 Funds Total 2024 Funds Total 2023 Unrestricted Funds Restricted Funds Notes Income from: Charitable activities Total income 5.024 5,024 45,305 45,305 50,329 50,329 28,051 28,051 Expenditure on: Charitable activities Total expenditure 1,220 1.220 47,128 47,128 48,348 48,348 39,831 39,831 Net incomel{expenditure) 3.804 (1,823) 1,981 (11,780) Transfer between funds (6,425) 6,425 Net movement in funds (2.621) 4.602 1,981 (11,780) Reconciliation of funds: Fund balances at 1 August 2023 2,643 5.398 8,041 19,821 Fund balances at 31 July 2024 22 10,000 10,022 8,041 Page 7
Three's Theatre Company Ltd Company Limited By Guarantee Balance sheet As at 31 July 2024 2024 2023 Notes Current assets Debtors Cash at bank and in hand 10 1,883 6,998 8,881 10,502 10.502 Creditors: amounts falling due within one year 11 {480) (840) Net current assets 10,022 8,041 Net assets 10,022 8,041 The funds of the charity Restricted funds Unrestricted funds Total funds 12 13 10.000 22 10,022 5,398 2,643 8,041 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 July 2024. The directors aCknOedge their responsibilities for complyng with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial statements for the year question in accordance with section 476. These financial statements have been prepared in accordan with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the trustees on 15 April 2025 C T Dalton Trustee Page 8
Three's Theatre Company Ltd Company Limited By Guarantee Notes to the financial statements For the Year ended 31 July 2024 Accounting policies Charity information Three's Theatre Company Ltd is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 25 Eglantine Crescent, Lisburn, BT27 5RH. Accounting convention The financial statements have been prepared in accordance with the charivs governing document, the Companies Act 2006 and "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 20191" The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. Going concern At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to conlinue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concem basis of accounting in preparing the financial statements. Charitable funds Unrestricted funds are available for use at Ihe discretion of the trustees in furtherance of Iheir charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless perfomiance conditions require deferral of the amount. Expenditure Expenditure is recognised once the is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. Page 9
Three's Theatre Company Ltd Company Limited By Guarantee Notes to the financial statements (continued) For the Year ended 31 July 2024 Accounting policies (continued) Expenditure (continued) Expenditure on charitable activities includes the costs of ServIS underiaken to further the purposes of the charity and their associated support costs. Supporl costs are those funclions that assist the work of the charity but do not directly undertake charitable activities. Cash and cash equivalents Cash and cash equivalents indude cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. Tax As a charity, the company benefits from various exemptions afforded by tax legislation. It is therefore not liable to corporation tax on income or gains falling due within those exemptions. Critical accounting estimates and judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlwng assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which Ihe estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Income from charitable activities Unrestricted Restricted Funds Funds 2024 2024 Unrestricted Restricted Funds Funds 2023 2023 Total 2024 Total 2023 Artistic grants Production income Other income 45,727 45.727 21,438 3,320 3,293 21.438 3.320 3,293 5,024 {422) 4.602 5.024 45,305 50,329 28,051 28,051 Page 10
Three's Theatre Company Ltd Company Limited By Guarantee Notes to the financial statements (continued) For the Year ended 31 July 2024 Expenditure on charitable activities Charitable activities 2024 Charitable activities 2023 Direct costs Artistic fees Malerials Advertising 36,933 2,840 830 40,603 19,194 11,113 563 30,870 Share of support and govemance costs (see note 5) Support Governan 7,265 480 48,348 8,121 39,831 Analysis by fund Unrestricted funds Restricted funds 1,220 47,128 48,348 2,513 37,318 39,831 Support costs allocated to activities 2024 2023 Office admin costs Rates Insurance Travel and subsistence Slorage costs Professional fees Bank charges Governance costs 3,333 114 546 726 2,438 6,448 1,565 108 108 480 7,745 8,961 Analysed between: Charitable activities 7,745 8,961 Net movement in funds 2024 2023 The net movement in funds is stated after chargingl(crediting): Fees payable for the independent examination of ihe charitys financial statements 480 Page11
Three's Theatre Company Ltd Company Limited By Guarantee Notes to the financial statements (continued) For the Year ended 31 July 2024 Trustees None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. Employees The average number of employees including the directors during the year was: 2024 2023 Trustees Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 10 Debtors 2024 2023 Amounts falling due within one year: Debtors 1,883 1,883 Creditors: amounts falling due within one year 2024 2023 Accruals and deferred income 480 480 12 Restricted funds The restricted funds of the charity comprise the unexpended balances of donalions and grants held on trust subject to spectfic conditions by donors as to how they may be used. At1 August 2023 At31 July 2024 Incoming Resources resources expended Transfer Restricted funds 5,398 45,305 (47,128) 6,425 10,000 5,398 45,305 47,128 6,425 10,000 Page 12
Three's Theatre Company Ltd Company Limited By Guarantee Notes to the financial statements (continued) For the Year ended 31 July 2024 12 Restricted funds (continued) At1 August 2022 At31 July 2023 Incoming Resources resources expended Restricted funds 14,665 28,051 (37,318) 5,398 14,665 28,051 37,318 5,398 13 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as how they may be used. At1 August 2023 A131 July 2024 Incoming Resources resources expended Transfer Unrestricted funds 2,643 5,024 {1,220) (6,425) 22 2.643 5,024 (1,220) (6,425) 22 At1 August 2022 At31 July 2023 Incoming Resources resources expended Unrestricted funds 5,156 {2,513) 2,643 5,156 (2,513) 2,643 14 Analysis of net assets between funds Unrestricted Restricted funds funds 2024 2024 Total 2024 At 31 July 2024- Current assetsl{liabilities) 22 10,000 10,022 22 10,000 10,022 Page 13
Three's Theatre Company Ltd Company Limited By Guarantee Notes to the financial statements (continued) For the Year ended 31 July 2024 14 Analysis of net assets between funds (continued) Unrestricted Restricted funds funds 2024 2024 Total 2024 At 31 July 2023= Current assetsl(liabilities) 2,643 5,398 8,041 2,643 5,398 8,041 15 Related party transactions There were no disdosable related party transactions during the year {2023- none). 16 Transfers Funds are transferred from unrestricted funds to restricted funds to cover shortfalls in restricted funding. Once the conditions for restricted projects have been met the restriction ceases and any surpluses made are transferred from restricted funds to unrestricted funds. 17 Contingent liability The charity has a contingent liability to repay grants received if the charity fails to comply with certain conditions stipulated in the letter of offer and terms and conditions of contract under which the grants were paid. The trustees do not expect any claims to be made in this respect. Page 14