| Trowbridge Town Hall Trust Ltd |
| Registered number: |
08142832 |
| Trustees' Report |
|
| The directors present their report and accounts for the year ended 31 December 2016. |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2017. The trustees have adopted the provisions of 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 2015).
|
|
| Structure, governance and management |
| Trowbridge Town Hall Trust Ltd is registered as a charitable company limited by guarantee and is governed by its Memorandum and Articles of Association dated March 2012. The Charity has no share capital or debentures. In the event of the Charity being wound up each member is required to contribute an amount not exceeding £10. |
|
| Trustee appointments |
| The Trustees elect the Chair of Trustees. Trustees are invited to apply to join the Board by general advertisement and by recommendation by the existing Trustees based on skills assessment. |
| Wiltshire Council as a key supporter has the right to send observers to the Trustee Board meeting and currently nominate representatives to do this. |
| A third of the Trustees retire by rotation each year and Trustees are elected annually by the members of the charitable company attending the AGM. |
| Potential candidates are invited to meet with other Trustees and observe a Board Meeting. They will also meet with the Director in order to understand the business fully. |
|
| Trustee directors |
| The following persons served as trustees during the period: |
|
|
Mr CPG Green |
|
Ms C Jack (chair) - resigned 06.03.17 |
|
Mr RB Jotcham |
|
Mr CV Kay (chair) |
|
Mr JR Knight |
|
Ms AR Phillips |
|
Mr GJ Pictor - resigned 31.08.16 |
|
Mr P Utton |
|
Mr PC Smith |
|
Mr IJ Walker - resigned 06.03.17 |
|
| Objectives and aims |
| The objects of the charity are: |
| - |
to promote the arts for the public benefit and to provide facilities in the interests of social welfare for recreation and other leisure-time occupation by the establishment and maintenance of Trowbridge Town Hall as an arts and community centre that will be used to stage performances and support the visual arts in the area in the form of theatre, music, exhibitions and other like events with the object of improving the conditions of life for the local inhabitants. |
| - |
to promote for the benefit and education of the public, the preservation, restoration, maintenance, repair and improvement of Trowbridge Town Hall, a grade II listed building, situated in Market Street, Trowbridge, Wiltshire. |
| In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission’s guidance on public benefit, including the guidance ‘public benefit: running a charity |
|
| Town Hall Arts continues to develop its activity of providing arts, cultural and heritage activity to the community of Trowbridge as well as providing a community facility for a wide range of local activities. |
|
| Town Hall Arts mission is to provide opportunities for people of all backgrounds, ages and abilities to be inspired by arts, culture and heritage learning from a building at the heart of its community. Trowbridge Town Hall is a hub for the development of artistic activity throughout the community area and a catalyst for change in the county town of Wiltshire, playing a vital role in redefining Trowbridge as a cultural destination. |
|
| Trowbridge Town Hall is being reignited with stunning professional performance and exhibitions from companies and artists from across the world. Town Hall Arts hosts a program of cultural learning led by experts in their fields as well as a wealth of activity led by community groups. This aspirational and diverse offer will ensure the Town Hall is a source of pride for the many people who engage with it. It will be led by a team of passionate professionals and around 50 volunteers who welcome, connect with and enthuse all who engage with Trowbridge Town Hall Arts and its work out in the community. |
|
| Achievements and performance |
| During this period Town Hall Arts has delivered: 15 Theatre performances, to an average audience of 46; 84 seesions of learning courses delivered to 728 people, 12 one off participation sessions to 120 participants, 9 youth music events to 593 young people and 6 events in our film/entertainment strand to audience of 398. We have also delivered 11 events as part of our heritage learning programme including museum talks and Tea dances, attracting 154 participants as well as 5 major exhibitions attracting over 2500 people. |
|
| We have supported Phoebe Kemp as an associate artist to develop a new show "May" about a wheelchair using suffragette and given Josephine Corcoran "Poet in Residence" status giving her space to develop a poetry stanza and workshops for adults and children. We have 11 artists making use of studios and over 40 artists selling in our shop. |
|
| We host Princes Trust who we've facilitated to take Arts Award training and now each cohort work with Prime Theatre to achieve Arts Awards. |
|
| We host on average 10 community events in our spaces per week, including Credit Union, U3A, exercise classes, slimming world and other community and corporate meetings. |
|
| We've been a leading organisation on the delivery of the Cultural Educational Partnership for Swindon and Wiltshire, hosting a number of the meeetings and taking on administration tasks to drive this forward. |
|
| We have applied for many grants and been successful in some including Music Connect, Local Area Board, Local Youth Network and Theatre Royal Creative Fund. We weren't successful in a larger bid to Power to Change to help develop earned income, nor were we in a partnership bid we made to HLF for a digital, arts and heritage project. |
|
| We have developed a number of leaflets to make a case for support for Town Hall Arts to individuals, businesses and legacy givers. These are now being used to build a body of givers. |
|
| Financial review |
| The Trust took the decision to change its financial year to better coincide with its stakeholders and HM Revenue and Customs and consequently this reporting period is only 8 months duration. |
|
| Activity increased significantly driven by grant funding received from Arts Council England (ACE) that enabled the trust to directly employ professional resource to deliver a comprehensive programme of events whilst growing its core activities of providing a venue for community activities and local artists. Wiltshire Council has continued to provide essential maintenance and to repair the building structure whilst providing financial relief for the leases and utilities. Wiltshire Council's Arts Service has also kindly funded the delivery of the Trusts objectives. The Trust also receives a grant from Trowbridge Town Council that supports the delivery of its objectives. In line with general tightening of public finances these grants are under pressure however the Trust remains extremely grateful for the continued support it receives from each council. As this is not a 12 month reporting period it is difficult to make year on year comparisons however the Turst is satisfied that revenues from room hire and lettings continue to increase on a pro-rata basis. |
|
| The Trustees were satisfied with the financial performance of the business. Although total free reserves fell from £13,886 to £9,511 during the 8 month reporting period the Trust has prudently ring fenced a further £10,488 into restricted funds as part of our commitment to the ACE project so the total reserves increased to £19,999. The charity does not have a formal reserves policy, but the Trustees consider this level of reserves to be adequate. The Trustees want to develop the reserves of the business as much as possible given the trading needs of the business and will be agreeing a formal policy in the next financial year. |
|
| Trustee responsibilities |
| The Trustee are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. |
| Company and charity law applicable to charities in England/Wales requires the Trustee to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the surplus or deficit of the Charity for that period. In preparing those financial statements the Trustee have: |
| • |
selected suitable accounting policies and applied them consistently, |
| • |
made judgements and estimates that are reasonable and prudent, |
| • |
stated whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
| • |
prepared the financial statements on a going concern basis (unless it is inappropriate to presume that the Charity will continue in operation). |
| The Trustee have overall responsibility for ensuring that the Charity has an appropriate system of controls, financial and otherwise. They are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 1985. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the detection and prevention of fraud and other irregularities. |
| The Trustee are responsible for the maintenance and integrity of the corporate and financial information included on the Charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. |
|
| Small company provisions |
| This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
| This report was approved by the board on 23 October 2017 and signed on its behalf. |
|
|
|
|
| Colin Kay |
| Director |
|
| Trowbridge Town Hall Trust Ltd |
| Independent Examiners Report |
|
| Independent Examiners' report to the trustees of |
| Trowbridge Town Hall Trust Ltd |
|
| I report on the accounts for the period ended 31.03.17 set out on pages 7 to 15. |
|
| Respective responsibilities of trustees and examiner |
The charity's trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required.
|
|
| 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: |
| - examine the accounts under Section 145 of the 2011 Act |
| - to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act) ; and |
| - to state whether particular matters have come to my attention. |
| Basis of the independent examiner's report |
| My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view ' and the report is limited to those matters set out in the statements below. |
| Independent examiner's statement |
| In connection with my examination, no matter has come to my attention: |
| (1) which gives me reasonable cause to believe that, in any material respect, the requirements |
| - to keep accounting records in accordance with Section 386 and 387 of the Companies Act 2006; and |
| - to prepare accounts which accord with the accounting records, comply with the accounting requirements of Sections 394 and 395 of the Companies Act 2006 and with the methods and principles of the 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 2015) |
| have not been met; or |
| (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. |
|
|
| Karen Crawford Limited |
| Chartered Accountants |
|
| 2 Highbank |
| Slaughterford |
| Chippenham |
| Wiltshire |
| SN14 8RG |
|
| 23 October 2017 |
|
| Trowbridge Town Hall Trust Ltd |
| Notes to the Accounts |
| for the period from 1 August 2016 to 31 March 2017 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
|
Trowbridge Town Hall Trust Ltd is a charitable company established in the United Kingdom. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity's operations and principal activities are described in the Trustees' report. |
|
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'EFA, the and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
|
The charitable company has changed its year end to 31 March from 31 July. These accounts are for a shortened 8 month period. |
|
Fund Accounting |
|
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
|
When applicable, designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. |
|
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. |
|
Income |
|
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
|
Expenditure |
|
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Furniture, fittings, and equipment |
over 5 years |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
The charity is exempt from corporation tax on its charitable activities. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
Going Concern |
|
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertanties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. |
|
| 2 |
Grant income and donations in kind |
|
|
Unrestricted |
|
Restricted |
Total |
Total |
|
|
funds |
|
funds |
funds |
funds |
|
|
2017 |
|
2017 |
|
2017 |
|
2016 |
|
|
£ |
|
£ |
£ |
£ |
|
|
Arts Council England |
49659 |
|
|
|
49659 |
|
Wiltshire Council |
7500 |
|
|
|
7500 |
|
833 |
|
Wiltshire Council - Supper room |
9279 |
|
9279 |
|
Wiltshire Council - Youth theatre |
4814 |
|
4814 |
|
Bridge House |
1771 |
|
1771 |
|
4300 |
|
Trowbridge festival |
1000 |
|
|
|
1000 |
|
Lions club |
4000 |
|
|
|
4000 |
|
Trowbridge town council |
4864 |
|
|
|
4864 |
|
HLF grant |
1684 |
|
|
|
1684 |
|
BA14 Local youth network |
4342 |
|
|
|
4342 |
|
Wiltshire music connect |
2999 |
|
2999 |
|
Creative fund |
4421 |
|
4421 |
|
Youth theatre |
204 |
|
204 |
|
|
|
73,049 |
|
23,488 |
|
96,537 |
|
5,133 |
|
|
|
|
|
|
|
|
|
|
The charity also receives a gift in kind donation of donated facilities from Wiltshire Council. The Council allows the charity to occupy the Town Hall in Market Street, Trowbridge, for a subsidised rent of £1 per year. The Council also covers the utilities fees for the building. |
|
| 3 |
Employees |
2017 |
|
2016 |
| Number |
Number |
|
|
Average number of persons employed by the company |
4 |
|
- |
|
|
|
|
|
|
|
|
|
|
During the year . None of the members of the Board of Trustees, received any remuneration or reimbursed expenses. |
|
| 4 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Furniture, fittings and equipment |
| £ |
|
Cost |
|
At 1 August 2016 |
15,121 |
|
Additions |
3,788 |
|
At 31 March 2017 |
18,909 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 August 2016 |
3,725 |
|
Charge for the period |
2,521 |
|
At 31 March 2017 |
6,246 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2017 |
12,663 |
|
At 31 July 2016 |
11,396 |
|
|
| 5 |
Debtors |
2017 |
|
2016 |
| £ |
£ |
|
|
Trade debtors |
9,170 |
|
5,711 |
|
Other debtors |
322 |
|
- |
|
|
|
|
|
|
9,492 |
|
5,711 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
2017 |
|
2016 |
| £ |
£ |
|
|
Trade creditors |
838 |
|
- |
|
Other taxes and social security costs |
1,676 |
|
1,873 |
|
Other creditors |
3,458 |
|
2,720 |
|
|
|
|
|
|
5,972 |
|
4,593 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Other financial commitments |
2017 |
|
2016 |
| £ |
£ |
|
|
Total future minimum payments under non-cancellable operating leases |
|
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
The charity occupies the Town Hall under a lease with Wiltshire Council. The annual rent is £1 (if demanded). Wiltshire Council has the right to break the agreement at any point provided it serves 6 months notice. |
|
| 8 |
Comparatives for statement of financial activities |
|
for the year ended 31 July 2016 |
|
|
2016 |
|
2016 |
|
2016 |
|
2015 |
| Unrestricted |
Restricted |
Total |
Total |
| funds |
funds |
funds |
funds |
| £ |
£ |
|
|
INCOME FROM |
|
Donations and fundraising |
309 |
|
|
|
309 |
|
498 |
|
Grant income |
5,133 |
|
5,133 |
|
53,591 |
|
Other trading activity |
30,001 |
|
|
|
30,001 |
|
14,294 |
|
TOTAL INCOME |
30,310 |
|
5,133 |
|
35,443 |
|
68,383 |
|
|
|
Direct costs |
(318) |
|
|
|
(318) |
|
- |
|
Support costs |
(30,462) |
|
(15,764) |
|
(46,226) |
|
(56,734) |
|
|
TOTAL EXPENDITURE |
(30,780) |
|
(15,764) |
|
(46,544) |
|
(56,734) |
|
|
|
Net income/(expenditure) |
(470) |
|
(10,631) |
|
(11,101) |
|
11,649 |
|
Transfer between funds |
4,364 |
|
(4,364) |
|
- |
|
NET MOVEMENT IN FUNDS |
3,894 |
|
(14,995) |
|
(11,101) |
|
11,649 |
|
|
RECONCILIATION OF FUNDS |
|
|
Total funds brought forward |
21,388 |
|
28,149 |
|
49,537 |
|
37,888 |
|
|
Total funds carried forward |
25,282 |
|
13,154 |
|
38,436 |
|
49,537 |
|
|
|
|
|
|
|
|
|
|
| Trowbridge Town Hall Trust Ltd |
| Notes to the Accounts |
| for the period from 1 August 2016 to 31 March 2017 |
|
|
| 9 Statement of funds |
| Brought |
Incoming |
Resources |
Transfers |
Carried |
| forward |
Resources |
expended |
forward |
| £ |
£ |
£ |
£ |
|
| Summary of funds |
| Unrestricted funds |
13,886 |
|
110,481 |
|
-103101 |
|
(11,755) |
|
9,511 |
| Designated funds |
| Fixed assets |
11,396 |
|
|
|
|
|
1,267 |
|
12,663 |
| G4A project |
10,488 |
|
10,488 |
| Restricted funds |
13,154 |
|
23,488 |
|
-6511 |
|
|
|
30,131 |
|
| Total |
38,436 |
|
133,969 |
|
(109,612) |
|
- |
|
62,793 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Restricted funds |
| Set up funding |
1,688 |
|
|
|
-156 |
|
156 |
|
1,688 |
| Social Investment Business |
10,734 |
|
|
|
|
|
|
|
10,734 |
| Area Board Grant 2 |
672 |
|
|
|
|
|
|
|
672 |
| Bridge House |
- |
|
1,771 |
|
|
|
|
|
1,771 |
| Area Board IT Grant |
60 |
|
|
|
-60 |
|
|
|
- |
| Supper and hat room renovations |
9,279 |
|
|
|
|
|
9,279 |
| Youth music |
2,999 |
|
-490 |
|
|
|
2,509 |
| Youth theatre |
9,439 |
|
-5961 |
|
|
|
3,478 |
|
|
|
13,154 |
|
23,488 |
|
(6,667) |
|
156 |
|
30,131 |
|
|
|
|
|
|
|
|
|
|
|
|
| Set up funding was received in 2015 to cover the initial costs of setting up the charity. No funds were spent during the period but will be spent next year on the purchase of virtual reality computer equipment. A transfer of £156 from this fund to general reserves relates to fixed assets which have been purchased with the grant, but moved to unrestricted reserves as there is no continuing restriction on the asset. |
| The Social Investment Business grant was received in 2015 to develop a feasibility plan in order to renovate the Town Hall as an Arts Centre. No funds were spent in this period but will be spent next year on renovation work to the supper and hat room. |
| The Area Board Grant 2 was received from Wiltshire Council in 2015 for furniture & equipment, lighting and exhibition display systems . There were no funds spent in this period. Funds carried forward will be spent on further development and renovation of the building and facilities. |
| The Area Board IT Grant was received to pay for computer equipment. All funds brought forward from previous years were spent in the period on IT equipment. |
| A Supper and hat room renovations grant was received from Wiltshire Council in the period. All funds were carried forward and spent in August 2017 on the renovation work. |
| A Wiltshire Music connect grant was received in the period to support the development of Youth Music at the Town Hall. Funds spent in the period relate to the purchase of a digital piano and running costs to support the Unsigned Youth Music night. Funds carried forward will be used to continue with the Youth Music project purchasing music equipment and supporting young people in creating and performing live music. |
| The Youth Theatre project has been jointly funded by a grant of £4,422 from Bath Theatre Royal Creative Fund and £4,814 from Wiltshire Council. The project runs a termly theatre group enabling young people to access professional training and the opportunity of putting on and watching professional performances. Funds spent during the period relate to the running costs of the group as well as the purchase of a professional dance floor and stage lighting. Funds carried forward will continue to support the ongoing youth theatre group. |
