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2024-05-31-accounts

Charity Registration No. NIC109332 Company Registration No. NI669814 (Northern Ireland)

BRIGHT UMBRELLA DRAMA COMPANY LIMITED (being a company limited by guarantee and not having a share capital)

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

BRIGHT UMBRELLA DRAMA COMPANY LIMITED

CONTENTS

Page
Charity information 1
Trustees’ report 2 – 6
Independent Examiner’s report 7
Statement of financial activities 8 – 9
Balance sheet 10 – 11
Notes to the financial statements 12 – 20

BRIGHT UMBRELLA DRAMA COMPANY LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Ms H Chesney
Mr J Cordner (appointed 3 January 2024)
Mr R Dane
Mr T Gill
Ms L Gordon (appointed 6 September 2024)
Mr M Grimes (appointed 13 September 2024)
Rev J Herron (resigned 6 September 2024)
Mr S Robinson
Ms L Shaw (appointed 6 September 2024)
Mr G Spratt (appointed 6 September 2024)
Chairperson Mr T Gill
Company number NI669814
Charity number NIC109332
Registered office Sanctuary Theatre
Castlereagh Street
Belfast
Co Antrim
BT5 4NE
Independent Examiners Ruth Walls
Chartered Certified Accountants
31 Lisnamuck Road
Coleraine
Co Londonderry
BT51 4HN
Bankers Ulster Bank
PO Box 232
11 – 16 Donegall Square East
Belfast
BT1 5UB
Solicitors John McGill
McGill Solicitors
48 Ann Street
Ballycastle
BT54 6AD

BRIGHT UMBRELLA DRAMA COMPANY LIMITED

TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 MAY 2024

The Trustees present their report and financial statements for the year ended 31 May 2024.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s Memorandum and Articles of Association, 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)’ (as amended for accounting periods commencing from 1 January 2016).

Objectives and activities

Purpose of the charity

The charity exists to advance the arts in Northern Ireland and further afield particularly through:

• Educational activities in respect of drama and the theatre such as theatrical performances, classes, talks and workshops in schools, colleges and other settings; and

• The involvement of the public in drama and theatrical works through enrolling them as actors, technicians and backstage crew.

Principal activities

The principal activity of the company continued to be the production of classical dramatic works, involving several mediums.

How our charity benefits the public

Our activities provide benefit to the public by:

Achievements and performance

The company produced a varied and exciting programme of theatre and events during the period in pursuit of its charitable aims including comedy, classical drama, new writing and work in schools. Highlights include:

• ‘The East Laffs’: Our monthly comedy club continued to be highly popular and is now firmly established on the Belfast and NI comedy circuit. The event attracts a regular audience and often sells out. The standard of stand-up comedy on offer remains high but the club places emphasis on providing a stage for younger and up and coming comedians as well as established acts.

• Visiting productions: As well as producing our own shows, we received a number of visiting shows with guest companies reporting a high level of satisfaction with the facilities on offer. These included, ‘Prudence and Promiscuity’; Ricky Warwick, ‘In the Arms of Belfast Town’, ‘The Good Women’, ‘The Robert Herdman Hypnosis Show’, ‘Danny Tango’, ‘Monster’ and a concert from local artists Anthony Toner and Ken Haddock.

BRIGHT UMBRELLA DRAMA COMPANY LIMITED

TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

A number of improvements to our premises took place during the year, including the building of a new stage in the main performance area.

Lease arrangements

Our building, known as ‘The Sanctuary Theatre’, is leased from the Trustees of Mountpottinger Non Subscribing Presbyterian Church on a 50 year lease basis. The lease was signed on 16[th] November 2023.

Grant aid

We are grateful for the support of the following funders during the period:

Financial results

The results for the year are set out on pages 8 and 9. The company returned net incoming resources for the year of £33,656 (2023 - £4,411). At 31 May 2024 the total funds of the charity amounted to £89,278 (2023 - £55,622) comprising unrestricted income funds of £75,831 (2023 - £29,297) and restricted funds of £13,447 (2023 - £26,325).

Reserves policy and going concern

The Trustees recommend that the surplus of £33,656 be added to the total income funds brought forward. The relevant fund now has a balance of £89,278.

The Trustees consider that with the continued support of its bankers, the reserves retained by the company are sufficient for its ongoing needs.

BRIGHT UMBRELLA DRAMA COMPANY LIMITED

TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

Plans for the future

Taxation

The company is a charity (Charity No NIC109332) and is recognised as such by HM Revenue and Customs for taxation purposes. As a result, there is no liability to taxation on any of its income.

Structure, governance and management

Bright Umbrella Drama Company Limited continues to operate as a not-for-profit charitable organisation with Company Limited by Guarantee status. The organisation is governed by a Board of Trustees, comprising of 9 in total. The Board administers the charity and normally meets bi-monthly.

Pay and remuneration for staff is reviewed annually and remuneration is based on scope of responsibilities and market value. Comparisons are sought within the wider community sector in Northern Ireland with reference to NJC salary scales.

New Trustees are briefed on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decisionmaking process, the strategic priorities and recent financial performance of the charity. They are free to discuss any issue with other current Trustees or employees. Trustees are encouraged to attend any appropriate external training events where these will facilitate the undertaking of their role. This provides an understanding of what Charity Trusteeship entails and the responsibilities and duties that go with that position. We facilitate an examination of direction, with a view to strategic sustainability and succession on a regular basis.

In May 2024 we appointed a Joint Artistic Director, Patsy Montgomery-Hughes, to work alongside our present Artistic Director and full-time volunteer, Trevor Gill.

The registered office of the company is Sanctuary Theatre, Castlereagh Street, Belfast, Co Antrim, Northern Ireland, BT5 4NE. The company registration number is NI669814.

BRIGHT UMBRELLA DRAMA COMPANY LIMITED

TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

The Trustees, who are also the Directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Ms H Chesney Mr J Cordner (appointed 3 January 2024) Mr R Dane Mr T Gill Ms L Gordon (appointed 6 September 2024) Mr M Grimes (appointed 13 September 2024) Rev J Herron (resigned 6 September 2024) Mr S Robinson Ms L Shaw (appointed 6 September 2024) Mr G Spratt (appointed 6 September 2024)

In addition, Mr Adrian Moir of Mountpottinger Non-Subscribing Presbyterian Church (our Landlord) serves as a non-voting observer on the Trustee Board.

Appointing of Trustees

Appointment of Trustees can be effected by a decision of the existing Trustees, and termination of the role of Trustee can be effected by a Trustee submitting a written resignation or being determined no longer capable or allowed by law to continue in the role.

Related parties and co-operation with other organisations

None of our Trustees receive remuneration or other benefit from their work with the charity. Any connection between a Trustee or senior manager of the charity with any related parties must be disclosed to the full board of Trustees in the same way as any other contractual relationship with a related party. In the current year any such related party transactions are reported in note 22 to the accounts.

Statement of Trustees’ responsibilities

The Trustees (who are also Directors for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.

In preparing the accounts, the Trustees are required to:

BRIGHT UMBRELLA DRAMA COMPANY LIMITED

TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement as to disclosure to our Independent Examiners

Each of the Trustees has confirmed that there is no information of which they are aware which is relevant to the independent examination, but of which the Independent Examiner is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the Independent Examiner is aware of such information.

The Trustees’ report was approved by the Board of Trustees.

Trevor Gill Chairperson

5 November 2024

BRIGHT UMBRELLA DRAMA COMPANY LIMITED

INDEPENDENT EXAMINER’S REPORT

TO THE MEMBERS OF BRIGHT UMBRELLA DRAMA COMPANY LIMITED FOR THE YEAR ENDED 31 MAY 2024

I report on the accounts of the charity for the year ended 31 May 2024 which are set out on pages 8 to 20.

Respective responsibilities of Trustees and Examiner

As the charity Trustees (and also the Directors of the company for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the charity is not subject to audit under company law, and is eligible for independent examination, it is my responsibility to:

Basis 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 accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65 (9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts and seeking explanations from you as charity Trustees concerning any such matters.

My role is to state whether any material matters have come to my attention giving me cause to believe:

Independent Examiner’s statement

I have completed my examination and have no concerns in respect of the matters listed above, and in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention.

Ruth Walls Association of Chartered Certified Accountants 31 Lisnamuck Road Coleraine Co Londonderry BT51 4HN

5 November 2024

BRIGHT UMBRELLA DRAMA COMPANY LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MAY 2024

Note
Income and endowments from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Other income
6
Total income
Expenditure on:
Charitable activities
7
Net (outgoing)/incoming
resources before transfers		 Unrestricted
Funds
2024
Restricted
Funds
2024
Total
Funds
2024
Unrestricted
Funds
2023
Restricted
Funds
2023
Total
Funds
2023
£
£
£
£
£
£
36,771
31,792
68,563
42,247
46,619
88,866
73,588
-
73,588
38,856
-
38,856
27,777
-
27,777
15,072
-
15,072
6,893
-
6,893
-
-
-
145,029
31,792
176,821
96,175
46,619
142,794
100,936
42,229
143,165
86,747
51,636
138,383
44,093
(10,437)
33,656
9,428
(5,017)
4,411

BRIGHT UMBRELLA DRAMA COMPANY LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024

Note
Net (outgoing)/incoming
resources before transfers
Gross transfers between funds
Net (expenditure)/income for
the year/Net movement in
funds
Fund balances at 1 June 2023
Fund balances at 31 May
2024		 Unrestricted
Funds
2024
Restricted
Funds
2024
Total
Funds
2024
Unrestricted
Funds
2023
Restricted
Funds
2023
Total
Funds
2023
£
£
£
£
£
£
44,093
(10,437)
33,656
9,428
(5,017)
4,411
2,441
(2,441)
-
(11,704)
11,704
-
46,534
(12,878)
33,656
(2,276)
6,687
4,411
29,297
26,325
55,622
31,573
19,638
51,211
75,831
13,447
89,278
29,297
26,325
55,622

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

BRIGHT UMBRELLA DRAMA COMPANY LIMITED

BALANCE SHEET AS AT 31 MAY 2024

Notes
Fixed assets
Tangible assets
13
Current assets
Stock
14
Debtors and prepayments
15
Cash at bank and in hand
Creditors: amounts falling due within
one year
16
Net current assets
Net assets
Income funds
Unrestricted funds – general
Restricted funds
18		 2024
£
£
26,096
475
1,223
69,547
71,245
(8,063)
63,182
89,278
75,831
13,447
89,278		 2024
£
£
26,096
475
1,223
69,547
71,245
(8,063)
63,182
89,278
75,831
13,447
89,278		 2023
£
£
12,469
475
1,106
42,883
44,464
(1,311)
43,153
55,622
29,297
26,325
55,622		 2023
£
£
12,469
475
1,106
42,883
44,464
(1,311)
43,153
55,622
29,297
26,325
55,622
71,245
(8,063)		 44,464
(1,311)
89,278 55,622
75,831
13,447		 29,297
26,325
89,278 55,622

BRIGHT UMBRELLA DRAMA COMPANY LIMITED

BALANCE SHEET (CONTINUED) AS AT 31 MAY 2024

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 May 2024. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these financial statements.

The Trustees responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The accounts were approved by the Board on 5 November 2024 and signed on its behalf by:

Sam Robinson Trustee

Company Registration No NI669814

BRIGHT UMBRELLA DRAMA COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

1 Accounting policies

Charity information

Bright Umbrella Drama Company Limited is a private company limited by guarantee incorporated in Northern Ireland. The registered office is Sanctuary Theatre, Castlereagh Street, Belfast, Co Antrim, BT5 4NE.

1.1

Accounting convention

The financial statements have been prepared in accordance with the charity’s Memorandum and Articles of Association, 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 2019)’. The charity is a Public Benefit Entity as defined by FRS 102.

Under FRS 102 the company is exempt from the requirement to prepare a cashflow statement on the grounds that it qualifies as a small company.

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 principal accounting policies adopted are set out below.

1.2

Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

BRIGHT UMBRELLA DRAMA COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

1 Accounting policies (continued)

1.4

Incoming resources

All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy and there is sufficient certainty that receipt of the income is considered probable. The following specific policies are applied to particular categories of income.

Income from charitable activities includes income recognised as earned (as the related goods or services are provided) under contract or where entitlement to grant funding is subject to specific performance conditions. Grant income included in this category provides funding to support programme activities and is recognised where the entitlement, certainty of receipt and amount can be measured with sufficient reliability.

1.5 Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Funding provided through contractual agreements and performance related grants are recognised as goods and services are supplied. Other grant payments are recognised when a constructive obligation arises that results in the payment being unavoidable.

1.6

Tangible fixed assets and depreciation

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment 20% reducing balance

The gain or loss arising on the disposal of an asset in determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in net income/(expenditure) for the period.

1.7

Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8

Cash and cash equivalents

Cash and cash equivalents include 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.

BRIGHT UMBRELLA DRAMA COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

1 Accounting policies (continued)

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity’s balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

BRIGHT UMBRELLA DRAMA COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

1.11

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

2 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 underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the 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.

3 Donations and legacies

Donations
Grants
Analysis by fund
Unrestricted funds – general
Restricted funds		 2024
£
8,771
59,792
68,563
36,771
31,792
68,563		 2023
£
24,547
64,319
88,866
42,247
46,619
88,866

BRIGHT UMBRELLA DRAMA COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

4 Charitable activities

Ticket sales
Room hire
Miscellaneous income		 Unrestricted
funds
general
2024
£
69,883
2,746
959
73,588		 Unrestricted
funds
general
2023
£
37,771
535
550
38,856

5 Other trading activities

Café sales
6
Other income		 Unrestricted
funds
general
2024
Unrestricted
funds
general
2023
£
£
27,777
15,072
Corporation tax refund Unrestricted
funds
general
2024
Unrestricted
funds
general
2023
£
£
6,893
-

BRIGHT UMBRELLA DRAMA COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

7
Charitable activities
Stage and theatre costs
Players’ costs
Visiting companies
Repairs and maintenance
Computer expenses
Travel and subsistence
Professional fees
Subscriptions
Café supplies
Opening stock
Closing stock
Miscellaneous expenses
Depreciation
Share of support costs (see note 8)
Share of governance costs (see note 9)
Analysis by fund
Unrestricted funds – general
Restricted funds
8
Support costs
Staff costs
Employer’s pension costs
Rent & rates
Insurance
Heat & light
Telephone
Advertising & PR
Printing, postage and stationery
9
Governance costs
Professional fees		 2024
£
18,391
45,190
2,375
5,371
2,128
5,740
4,121
1,188
8,269
475
(475)
152
2,770
95,695
46,920
550
143,165
100,936
42,229
143,165
2024
£
27,528
1,081
1,656
1,198
6,646
734
3,546
4,531
46,920
2024
£
550		 2023
£
8,989
50,319
-
3,181
1,507
5,582
10,781
214
2,970
-
(475)
165
3,118
86,351
51,532
500
138,383
86,747
51,636
138,383
2023
£
36,471
1,364
546
1,328
2,703
912
2,428
5,780
51,532
2023
£
500

BRIGHT UMBRELLA DRAMA COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

10 Trustees

None of the Trustees (or any persons connected with them) received any remuneration, benefits or expenses from the charity during the year.

11 Employees

Number of employees

The average number of employees (excluding Trustees) during the year was:

Office and management
Employment costs
Wages and salaries		 2024
Number
2023
Number
1
2
2024
£
2023
£
27,528
36,471

No employee received emoluments in excess of £60,000 during the year.

12 Taxation

The charity is exempt from tax on income and gains falling within Section 505 of the Taxes Act 1988 or Section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

BRIGHT UMBRELLA DRAMA COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

13
Tangible fixed assets
Improve-
ments to
property
£
Cost
At 1 June 2023
Additions
15,009
At 31 May 2024
15,009
Depreciation
At 1 June 2023
-
Charge for the year
-
At 31 May 2024
-
Carrying amount
At 31 May 2024
15,009
At 31 May 2023
-
14 Stocks
Finished goods and goods for resale
15 Debtors: amounts falling due within one year
Prepayments
16 Creditors: amounts falling due within one year
Accruals		 Fixtures,
fittings
and
equipment
£
18,734
1,388
20,122
6,265
2,770
9,035
11,087
12,469
2024
£
475
2024
£
1,223
2024
£
8,063		 Total
£
18,734
16,397
35,131
6,265
2,770
9,035
26,096
12,469
2023
£
475
2023
£
1,106
2023
£
1,311

BRIGHT UMBRELLA DRAMA COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

17 Retirement benefit schemes

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The charge to profit and loss in respect of defined contribution schemes was £1,081 (2023 - £1,364).

18 Restricted funds

Restricted funds (£13,447) relates to income from Future Screens, to fund the salary of the Theatre Supervisor.

19 Analysis of net assets between funds

Fund balances at 31 May
2024 are represented by:
Tangible assets
Current assets/(liabilities)		 Unrestricted
Funds
£
26,096
49,735

75,831		 Restricted
funds
£
-
13,447
13,447		 Total
£
26,096
63,182
89,278

20 Financial commitments, guarantees and contingent liabilities

Certain grants received and receivable may become repayable to the funder if the Charity is no longer able to meet the conditions under which they were awarded. Due to the nature of these contingencies, it is not possible to quantify the potential effect or give an indication of timing as to the liabilities that may arise.

21 Capital commitments

There were no capital commitments as at 31 May 2024

22 Related party transactions

There were no related party transactions during the year to 31 May 2024.