Progressive Players Gateshead Limited (The) - Filleted accounts

THE PROGRESSIVE PLAYERS (GATESHEAD) - Company Information

Progressive Players Gateshead Limited (The)
Registered number:		00380679
Balance Sheet
as at 31 March 2020

Notes			2020			2019
£				£
Fixed assets
Tangible assets	4		64,987			67,536
Investments	5		5,250			5,250
			70,237			72,786

Current assets
Debtors	6	4,926			3,105
Cash at bank and in hand		193,971			174,649
		198,897			177,754

Creditors: amounts falling due within one year	7	(3,100)			(4,773)

Net current assets			195,797			172,981

Total net assets			266,034			245,767

The funds of the charity
Unrestricted income funds	8		121,034			138,767
Restricted funds	7		145,000			107,000
Total charity funds			266,034			245,767

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime and in accordance with FRS102 SORP.
The profit and loss account has not been delivered to the Registrar of Companies.



Ms M Dawson - Chairperson
Approved by the board on 27 September 2020

Progressive Players Gateshead Limited (The)
Notes to the Accounts
for the year ended 31 March 2020


1	Accounting policies

	Basis of preparation
	The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

	Under section 138(2) of the Charities Act 2011 the charity has taken exemption from preparing consolidated accounts which would have included the results of its subsidiary company.

	Income and recognition policies
	Income derives from the staging of plays including ticket and season ticket receipts, wardrobe hire and other associated activities. Items of income are recognised and included in the accounts when all of the following criteria are met: - The charity has entitlement to the funds. - Any performance conditions attached to the items of income have been met are fully within the control of the charity. - There is sufficient certainty that receipt of the income is considered probable. - The amount can be measured reliably.

	Fund accounting
	Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Restricted funds are funds which the donor has specified are to be solely used for particular areas of the charity's work.

	Expenditure
	Expenditure is recognised once there 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.

	Tangible assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Fixtures and fittings			2.5% reducing balance basis
	Stage properties			25% reducing balance basis
	Computer equipment			25% straight line basis

	Investments
	Investments in subsidiaries are valued at cost less provision for impairment.

	Cash at bank and in hand
	Cash at bank and in hand includes cash and short term highly liquid investments with immediate access.

	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
	Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Season ticket box office income and members income paid in advance at the balance sheet date have been included with deferred income and will be released to the Statement of Financial Activities in the period to which the income relates.


2	Number of employees					2020		2019
£							£

	Average number of persons employed during the year					0		0

						-		-


3	Operating profit					2020		2019
£							£
	This is stated after charging:

	Depreciation of owned fixed assets					2,549		2,807


4	Tangible fixed assets
		Fixtures and fittings		Stage properties		Computer equipment		Total
£			£		£		£
	Cost
	At 1 April 2019	79,098		22,968		1,508		103,574
	At 31 March 2020	79,098		22,968		1,508		103,574

	Depreciation
	At 1 April 2019	14,137		20,770		1,131		36,038
	Charge for the year	1,624		549		376		2,549
	At 31 March 2020	15,761		21,319		1,507		38,587

	Net book value
	At 31 March 2020	63,337		1,649		1		64,987
	At 31 March 2019	64,961		2,198		377		67,536








5	Investments							Investment in
subsidiary
undertaking
£
	Cost
	At 1 April 2019							5,250
	At 31 March 2020							5,250

	The company holds 20% or more of the share capital of the following companies:

Capital and							Profit for
	Company	Shares held	reserves				the year
Class			%		£		£
	Little Theatre (Gateshead) Limited (The)	Ordinary		100		277,427		44,009

6	Debtors					2020		2019
£							£

	Prepayments					4,926		3,105

7	Creditors: amounts falling due within one year					2020		2019
£							£

	Accruals					1,100		1,116
	Deferred income					2,000		3,657
						3,100		4,773


8	Analysis of movements in funds					2020
£
Unrestricted			Restricted		Total
	Funds at 1 April 2019	138,767		107,000		245,767
	Net resources income	20,267		-		20,267
	Transfers per Trustees report	(38,000)		38,000		-
	Funds at 31 March 2020	121,034		145,000		266,034

9	Legal entity

	Progressive Players Gateshead Limited (The) is a private company limited by guarantee and without share capital incorporated in England, the registered office is:
	Little Theatre
	Saltwell View
	Gateshead
	NE8 4JS



10	Ultimate controlling party

	The company does not have an ultimate controlling party.


11	Related party transactions					£	£

	Little Theatre (Gateshead) Limited (The)
	The company is a wholly owned subsidiary of Progressive Players Gateshead Limited (The).
	During the year the company paid rent to Little Theatre (Gateshead) Limited (The).

	Amount paid during the year					28,596		28,596

	Contribution paid to Little Theatre (Gateshead) Limited (The)
	towards overhead expenses.					3,059		8,733

	None of the trustees have been paid any remuneration or received any other benefits from the company or a related entity. During the year 8 trustees were reimbursed expenses totalling £1,274 (2019 £3,393) in respect of various costs relating to the charity.

11	Corporation 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.

Progressive Players Gateshead Limited (The) 00380679 false 2019-04-01 2020-03-31 2020-03-31 VT Final Accounts June 2020 release 2 Ms M Dawson - Chairperson No description of principal activity 00380679 2018-04-01 2019-03-31 00380679 core:WithinOneYear 2019-03-31 00380679 core:OtherReservesSubtotal 2019-03-31 00380679 2019-04-01 2020-03-31 00380679 bus:RegisteredCharity 2019-04-01 2020-03-31 00380679 bus:AuditExempt-NoAccountantsReport 2019-04-01 2020-03-31 00380679 bus:Director40 2019-04-01 2020-03-31 00380679 core:PlantMachinery 2019-04-01 2020-03-31 00380679 core:Vehicles 2019-04-01 2020-03-31 00380679 core:RevaluationReserve core:LandBuildings 2019-04-01 2020-03-31 00380679 bus:FRS102 2019-04-01 2020-03-31 00380679 bus:FullAccounts 2019-04-01 2020-03-31 00380679 2020-03-31 00380679 core:WithinOneYear 2020-03-31 00380679 core:OtherReservesSubtotal 2020-03-31 00380679 core:PlantMachinery 2020-03-31 00380679 core:Vehicles 2020-03-31 00380679 core:RevaluationReserve 2020-03-31 00380679 2019-03-31 00380679 core:PlantMachinery 2019-03-31 00380679 core:Vehicles 2019-03-31 00380679 core:RevaluationReserve 2019-03-31 iso4217:GBP xbrli:pure