The trustees present their report and financial statements for the year ended 31 August 2019.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's memora n dum and articles of association dated 2 June 1998 as amended July 2019 , 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)
The charity's objects are :
-to advance the education, public understanding and appreciation of the dramatic arts .
-to teach, train and encourage young artists and other members of the public in the dramatic arts .
- to explore, principally through the dramatic arts, the relevance of the Christian faith to contemporary life and its potential to effect positive change.
The policies adopted in furtherance of these objects are the staging of performances and workshops at the Friargate Theatre, the annual summer school and working within the Christian Church, schools and other areas of the community presenting high quality drama and direct teaching, there has been no change in these during the year.
The charity has the general aim of providing and presenting performances which are of educational, cultural and religious value to the community.
The main objectives for the year continued to be the promotion and fostering of artistic knowledge and appreciation of the dramatic arts, and the exploration of the relevance of the Christian faith to contemporary life and its potential to effect positive change.
Strategies for achieving the objectives of the charity continues to be the production of theatrical performances, drama workshops and direct teaching.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
The trustees consider that the charity is a public benefit entity.
Details of the significant activities of the charity during the year are as follows:
Riding Lights Productions
Sep to Dec 2018 GOSPEL STREET – National Tour
Nov 2018 IMAGINE THIS – RL conference exploring contemporary art and culture
Dec 2018 York minster Carol Service with St Michael le Belfrey Church
Dec 2018 MURDER BY POE – Senior Youth Theatre
Jan to Mar 2019 Creative Laboratories – Yor k
Mar to Apr 2019 THE NARROW ROAD – National tour
Apr 2019 PRAYER UNLIMITED Spring Harvest
Apr 2019 WILDE AT HEART – (by Jon Boustead) – Junior Youth Theatre
Mar 2019 ALL’S WELL THAT ENDS WELL – York International Shakespeare Festival
July 2019 FANTASTIC JOURNEYS – Acting Up!
July 2019 THE WIND IN THE WILLOWS – Minster School
July 2019 BIG YORKSHIRE YOUTH THEATRE FESTIVAL – partnership with York Theatre Royal
July 2019 SUMMER THEATRE SCHOOL
Riding Lights Roughshod
The charity's Roughshod Company which is primarily staffed by volunteer actors and actresses offering performances at no charge did not operate during the year.
Educational and Youth Work
Riding Lights Education works with both young people and adults producing a wide range of theatrical opportunities for the York community and beyond. The work includes a wide range of drama workshops as well as full scale productions. Since 2000, with the purchase of Friargate Theatre and the creation of the education department R iding L ights has continued to partner with both primary and secondary schools to deliver workshops and support teachers across the curriculum.
Four youth theatre courses are run during each term of the year. Some courses are entirely skills-based, others lead to productions mounted at Friargate Theatre. The courses are as follows :
S chool years 7 - 9 (JYT)
S chool years 10 upwards (SYT)
Acting Up! (age 14-18)
Acting Up! ( age 18-25)
Acting Up! is the only Youth Theatre provision in York for young people with additional needs. In June 2018 Acting Up! received funding from the Ed De Nunzio Trust to enable the work to continue following the ending of funding from BBC Children in Need.
Riding Lights continues to provide curriculum drama teaching and a youth theatre for The Minster School in York which includes their annual school production which is presented at Friargate Theatre. The department benefits from the assistance of volunteers, who provide valuable experience to those individuals taking part.
Details of the significant activities during the twelve months are as follows:
FANTASTIC JOURNEYS – Acting up! production
THE WIND IN THE WILLOWS – Minster School production
MURDER BY POE – Senior Y outh T heatre p roduction
WILDE AT HEART – Junior Youth Theatre p roduction
Summer Theatre School
The Riding Lights Summer Theatre School ran at Queen Margaret’s School near York in July for 96 participants. This number represented a small increase in numbers from 88 the previous year. An anonymous donor has continued to fund 5 free places for people who are not in full time work or education. This opportunity was greatly appreciated by individuals who would not otherwise be able to afford the fee.
The end of the residential week culminates in a one day festival of theatre in which all participants perform to one another, the work they have created during the week.
Use of Volunteers
Riding Lights is widely supported by many people across the country who help by providing a wide range of valuable resources, particularly when Riding Lights visits local communities. We are particularly grateful for the generous provision of accommodation and hospitality made to our acting companies as well as to those who organise performances of our work in their area.
The educational department also benefits from the assistance of volunteers, who provide valuable experience to those individuals taking part .
Riding Lights Productions
Gospel STREET by Paul Burbridge and other contributors is a modern retelling of the four gospel accounts. It was written specifically as part of a strategy to reach new and younger audiences and managed to achieve that in part. It toured successfully in 2017 and was warmly received by audiences of all ages when it toured again in A utumn 2018.
Imagine This – an innovative conference based at Friargate Theatre over two days drew together artists and academics to reflect together on the impact of changing culture on the art we make. It was attended by over 60 people who responded warmly to the opportunity to see new work and to reflect and discuss together. This is something that could be repeated in the future.
The York Minster C arol S ervice draws a large audience from right across the county. It was presented in partnership with St Michael le Belfrey church and the service was screened in the building for better visibility and also live streamed via Facebook. Over 1 , 000 people attended.
All's Well That Ends Well – York International Shakespeare Festival. The festival takes place every two years in York and R iding L ights was invited to contribute. The play was adapted by Paul Burbridge and produced with a cast of 5 actor - musicians. Competition from the Rose Theatre Programme and a failure of promised marketing, resulted in poor ticket sales. Nonetheless the show was very well reviewed and plans are under consideration for a tour of European Shakespeare Festivals.
Educational Programme
Riding Lights Youth Theatre and Education department has continued to teach theatre skills both in the community and in schools. Riding Lights Junior and Senior Youth Theatre have weekly sessions for approximately 40 young people. Acting Up! Youth Theatre Practitioner engages with 22 young people who have additional needs and disabilities. Our Youth Theatre Practitioner taught drama at York Minster School, working with in excess of 100 pupils. Of these over 30 regularly attend youth theatre and drama club at Friargate Theatre.
The Big Yorkshire Youth Theatre Festival is a partnership with York Theatre Royal, inviting children from youth theatres across Yorkshire to spend two days working together and learning from experienced artists and practitioners. This was fully booked and very successful. There are plans to repeat the exercise next year .
Riding Lights aims to cover all its costs through a mixture of the regular donated income received from membership and irregular income from one off donations and earned from projects and productions. The Company aims to ensure that the costs of operating the core of Riding Lights (Administration, Friargate Theatre, Company Vehicles, Staff etc.) are broadly covered by regular income, with the shortfall in regular income being made up by surpluses on projects and productions, although this surplus is principally intended to support new productions which is essential if the Company is to invest in and produce new work.
Our regular income has continued to struggle to keep up with increasing core costs and has resulted in a loss in this financial year. We continue to seek increased membership which enables us to predict some regular giving. There is regular fundraising, both targeted and non-specific, grant applications. R iding L ights has stripped back production costs and has benefited from the willingness of some artists to reduce their fees.
Irregular income including external funding, grants, donations and partnerships are crucial as a support for the whole organisation.
The Board's current strategy is to:
- Increase regular income by finding more members and encouraging all members to consider their level of contribution .
- Seek additional funding from and partnerships with other organisations to support our work .
- Ensure all projects are more profitable wherever possible .
- Refine the management of the core organisation to ensure we are as efficient as possible .
The company's memorandum and articles of association give the charity the power to make any investment which the trustees think fit. At the present time no such investments are held.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
The trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks faced by the charity and confirm that they have established systems to mitigate the significant risks.
Plans for the Future
Autumn 2019 Riding Lights - The Kaleidsocope Tour - a reminder of the potential impact for positive change that the church can offer. This is toured in tandem with a show for prisons under the broad heading Revolving Doors from Autumn 201 9 .
November 2019 The Selfish Giant – Oscar Wilde adapted by Jon Boustead – a tou r for local primary schools .
February 2020 Riding Lights - The Kaleidsocope Tour .
From Easter 2020 The Narrow Road – 2nd national tour of a passion play by Paul Birch .
Easter 2020 Spring Harvest, Minehead and Harrogate .
May 2020 Fantastic A cts – National tour .
June 2020 ongoing All’s Well That Ends Well – European Tour .
July 2020 York Walls promenade show – local partnership .
July 2020 Big Yorkshire Youth Festival .
1-8 August 2020 Riding Lights Summer Theatre School, at Harrogate Ladies’ College .
Summer/Autumn 2020 My Place – partnership with Home For Good – national tour .
Autumn 2020 wellbeing workshops for primary schools development project .
November 2020 The Selfish Giant – national tour, possible residency .
Jan 2021 begin work on AI project for Templeton Fund .
Increasing costs and cultural change continue to be significant drivers in leading the Riding Lights board to review its pattern of work. Bernadette Burbridge will hand over the business administration in August of 2019 and will continue to mentor on a reduced retainer subject to review. Paul Burbridge is expected to leave at some point towards the end of 2020 continuing to mentor for a limited time, subject to agreement with the Riding Lights board.
Impact of Covid 19
In line with the government recommendations, the company dispersed to work from home in March 2020. Administrative staff continued to check into the building on a regular basis but also worked from home.
The following work was cancelled or postponed.
The Narrow Road – cancelled
All youth theatre sessions and productions until further notice – cancelled
York Walls project – postponed
Kaleidoscope Tours – cancelled
Summer Theatre School – cancelled, with a remote version planned
All public events at Friargate Theatre cancelled until further notice
Home for Good – postponed
Spring Harvest took the decision to go online and asked Riding Lights to produce content for their online events. Given the challenge of social distancing and lockdown, Riding Lights made the decision to accept the Spring Harvest offer and to film content in individual homes and then cut the work together. This was a successful enterprise and along with the generation of new online content for social media, occupied the company members until Easter.
Following the government announcement of furlough provision, along with the lack of work in the immediate future, a decision was taken to retain Bethan Gibb-Reid, company administrator and Helen Clarke, part time admin assistant, who is completing a back-dated task on gift-aid collection. All other staff were furloughed until further notice.
A revised job description was drawn up for the company administrator supported by regular access to all ten Riding Lights Board Members for advice and consultation. Board Meetings and AGM continue online.
The charity was registered with the Charity Commission on 23rd June 1998 and is constituted as a company limited by guarantee and is therefore governed by its memorandum and articles of association dated 2nd June 1998.
It was acknowledged by the Trustees that the charitable objects, while technically accurate, no longer articulated the ethos of the company’s work. Over twenty years the specific language has developed inferences of proselytising that is not consistent with the work and that is easily misunderstood . This has been identified as a specific block to some sources of funding. A motion was passed to agree a rewording of the charity’s third article. The charitable objects were amended in accordance with the Charity Commission guidelines in July 2019. The third article now reads:
to explore , principally through the dramatic arts , the relevance of the Christian faith to contemporary life and its potential to effect positive change .
The company began to operate on 1 November 1998 when the assets and liabilities of Riding Lights Trust (a registered charity) and Riding Lights Theatre Company Limited with the exception of its stock of merchandise were transferred to the company. The Riding Lights Theatre Company Limited then changed its name to Riding Lights (Trading) Limited. Riding Lights (Trading) Limited was dissolved on 16 December 2008.
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:
All directors of the company are also trustees of the charity and there are no other trustees. The Board has the power to appoint additional trustees as it considers fit to do so.
In accordance with the provisions of the company's Articles of Association any newly appointed trustees shall hold office until the next Annual General Meeting and shall not be taken into account in determining the board members who are to retire by rotation at the meeting. If not reappointed at such Annual General Meeting, they shall vacate office at the meeting thereof.
In accordance with these provisions David Lampitt, Andrew Bradley, Susie Hoyland and Yvonne Morley-Chisholm retire from office by rotation and, being eligible, offer themselves for re-election.
None of the trustees have any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
Subject to the provisions of the Companies Act 2006, but without prejudice to any indemnity to which a board member may otherwise be entitled, every board member or other officer or auditor of the Charity shall be indemnified out of the assets of the Charity against any liability incurred by him in defending any proceedings, whether civil or criminal, in which judgement is given in his favour or in which he is acquitted or in connection with any application in which relief is granted to him by the court from liability for negligence, default, breach of duty or breach of trust in relation to the affairs of the Charity, and against all costs, charges, losses, expenses or liabilities incurred by him in the execution and discharge of his duties or in relation thereto.
The trustees have complied with the duty imposed upon them by Section 4 of the Charities Act 2011 to have due regard to guidance published by the Charity Commission including the guidance issued in respect of public benefit.
The trustees meet regularly to manage the charity's affairs and delegate the day-to-day running of the charity's activities to its executive and artistic directors and administrative staff.
Riding Lights is a theatre company with a Christian ethos and it is important that Trustees who join the Board share the Company's beliefs and objectives.
Potential new Trustees are identified from amongst the long-term, active supporters of Riding Lights. The Board seeks to maintain a balance of knowledge and experience relevant to particular aspects of the Company's activities; for example: Finance, Personnel, Education, etc.
Potential Trustees are invited by the Chairman to think and pray about their possible deeper involvement with the Company. Those who accept are invited to attend a Board meeting to see what goes on and how the Board operates. Once they have formally decided to accept the invitation, they are encouraged to attend as many of the meetings as possible. Inevitably not everyone can attend every meeting. Meeting dates are agreed a year in advance, with some six meetings each year. Minutes and review notes are circulated to all members of the Board on a regular basis.
There is no formal training programme for new trustees, but they are all selected from individuals who have supported or worked with Riding Lights in different capacities in the past. They are therefore already familiar with the broad outlines of the company's activities. Initially they work alongside more experienced members of the Board on sub-committees or in exploring specific issues.
A number of the charity's trustees invoiced the charity for various fees and expenses, the details of which are disclosed in note 10.
Note 21 sets out an analysis of the assets attributable to the various funds. These assets are sufficient to meet the charity's obligations on a fund by fund basis.
The trustees' r eport was approved by the Board of Trustees.
I report to the trustees on my examination of the financial statements of Riding Lights (the charity) for the year ended 31 August 2019.
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act) . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Donations, Gifts and legacies
Activities to generate funds including trading operations
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Riding Lights is a private company limited by guarantee incorporated in England and Wales. The registered office is Friargate Theatre, Lower Friargate, York, YO1 9SL, UK.
The financial statements have been prepared in accordance with the charity's governing document dated 2 June 1998, 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). 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 a mounts 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.
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.
The company has a number of restricted income funds to account for situations where a donor requires that a donation must be spent on a particular expense or where funds have been raised for a specific purpose.
Where monies are received as a contribution towards the general costs of a specific performance or project, the money is held as restricted funds until such a time that the nominated performance or project has finished. When the performance or project has finished the monies are transferred into unrestricted funds.
All other income funds are unrestricted unless designated by the trustees.
Incoming resources from charitable activities comprises of income from ticket sales, memberships, theatrical services and hire of theatre space. Income is recognised on a receivable basis.
All expenditure is accounted for on an accruals basis.
Grants payable are payments made to third parties in the furtherance of the charitable objectives of the Trust.
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
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 ) .
Intangible assets with indefinite useful lives and intangible assets not yet available for use are tested for impairment annually, and whenever there is an indication that the asset may be impaired.
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. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
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.
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, 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, 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 p aymen ts 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.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease.
Donations, Gifts and legacies
Gift Aid & Theatre Tax Relief
Membership s
Where income has been specifically restricted to a future performance by the donor, this income is not deferred but held as a restricted fund.
The company receives donations from various organisations to financially aid the educational program and the production of specific performances. Material & selected donations are shown above.
The Charity also benefits greatly form the involvement and enthusiastic support of its volunteers, details of which are given in our annual report. In accordance with the Charities SORP, the economic contribution of general volunteers is not recognised in the accounts.
Performances
Summer school and educational projects
Performances
Summer school and educational projects
Ticket Sales
Providing Theatrical Services
Hire of Theatre Space
Theatre School & Child Memberships
Activities to generate funds including trading operations
Merchandise & Performance Night I ncome
Ticket Agency
Activities to generate funds including trading operations
Merchandise
Theatrical activities
Educational and Summer School activities
Theatrical activities
Educational and Summer School activities
Production costs
Property and Venue costs
Insurance
Marketing & Promotion
Travel & Subsistance
Property Maintenance
Theatrical activities
Educational and Summer School activities
(2018 - 15 )
Theatrical activities
Bursaries to artists to assist performance and tutoring.
Educational and Summer School activities
Children's a ssisted place s to attend summer school
Storage costs
Vehicle costs
Printing & Stationery
Postage
Computer & IT costs
Ticket Office costs
Bank & Creditcard charges
Telecommunications
Sundry Expenses
Health & Safety
Bookkeeping
Governance costs includes payments to the independent examiner of £2,250 (2018- £2,250) for independent examination and £2,694 (2018- £1,726) for other services.
An exception has been granted by the Charity Commission allowing certain trustees & directors to receive remuneration, on a commercial basis, for the roles they perform as follows:
P Burbridge
Salary £ 30,196 (2018- £33,761)
Pension contributions £3,565 (2018- £3,565)
S Cavanagh
Salary £7 ,301 (2018- £7, 271 )
Pension contributions £804 (2018- £804)
B Burbridge
Salary £23, 746 (2018- £2 3 , 638 )
Pension contributions £nil (2018- £nil)
The amount of remuneration paid to the individuals concerned is decided upon and approved by the board of trustees.
The following transactions were undertaken with Mr S Cavanagh, who is a trustee & director of the company:
Purchases of goods, services and reimbursement of expenses £ 3,041 (2018- £ 205 ) .
Amounts owed at year end £nil (2018- £nil) .
The following transactions were undertaken with Mr P A Burbridge, who is a director of the company:
Purchase of services & reimbursement of expenses £ 1 , 168 (2018- £ 2 , 764 ) .
Amounts owed at year end £nil (2018- £nil) .
The following transactions were undertaken with Mrs B Burbridge, who is a director of the company:
Purchase of services & reimbursement of expenses £ 918 (2018- £ 1,775 ) .
Amounts owed at year end £nil (2018- £nil) .
The following transactions were undertaken with Mrs Y Morley-Chisholm, who is a director of the company:
Purchase of services & reimbursement of expenses £ nil (2018- £ 250 ) .
Amounts owed at year end £nil (2018- £nil) .
All transactions were undertaken under normal commercial terms and rates.
Trustees of the charity are covered by a 'Directors and Officers' liability policy.
The average monthly number of employees during the year was:
No employees received benefits of more than £60,000.
The company is a registered charity and on the basis of these financial statements no provision has been made for corporation tax.
Transfers between unrestricted and restricted funds represent the amounts received during the year for specific performances or projects which had been completed during the year. These restricted funds received for such projects are then deemed to be unrestricted.
An impairment review of the charity's fixed assets has been undertaken. The net realisable value of the assets concerned has been assessed by estimating their market value. Their value in use has been determined by evaluating present value of the future benefits expected to arise from the continued use of the assets concerned.
The board is satisfied that the values that have been assessed are greater than or equal to their net book values and as such no impairment adjustments are required.
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 or loss in respect of defined contribution schemes was £5,097 (2018 - £9,403).
During the course of the year ended 31 March 1998, the Riding Lights Trust began to raise funds in order to finance the acquisition and alteration of a freehold property that was suitable to be used as a theatre, office, store and rehearsal facility. A suitable property was acquired on 7 August 1998 in Friargate, York. The restricted fund was transferred as part of the overall assets and liabilities of the Riding Lights Trust when the company began to operate on 1 November 1998. The direct expenditure represents depreciation charged in respect of the freehold property. The entire depreciation charge has been allocated to the restricted fund.
Summer Theatre School Bursaries are given to award free places to individuals who have not previously attended summer school and who are not in full time work or full time education.
The Charity often receives donations and grants of a restricted nature, usually relating to specific dramatic productions. These are deemed to be restricted until expenditure in relation to the specific purpose takes place.
Transfers from restricted funds are made when funds received for restricted purposes are deemed unrestricted.
Unrestricted funds
R estricted funds
Unrestricted funds
R estricted funds
Other than those reported in note 10. There were no disclosable related party transactions during the year (2018- none).