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2023-03-31-accounts

Page
Trustees report 1-7
Independent
examiner's		 report
Statement of5nancial activities 10
Balance sheet
Statement ofcash flows 16
Notes to the financial statements 12-25

Reference and administrative and administrative and administrative details
Registered charity name Gwent Ballet Theatre Limited
Also known as Independent Ballet Wales
Ballet Cymru
Registered charity number 1000855
Registered company number 02535169
Registered oNce Ballet Cymru
Unit 1
Wern Trading Estate
Rogerstone
Newport
South Wales
NP10 9FQ
Trustees/Directors JAngharad (Chair)
J Greenidge
SBradley (Vice Chair)
G Rees (Resigned 5 December 2022)
C Batt
H Beadsworth (Appointed 25/04/22)
EJones (Appointed 25/04/22)
Company Secretary DJWilliams
Chief Executive Officer/Director DJ Williams
Bankers Lloyds Bank pic
42 Commercial Street
Newport
South Wales
NP19 1WX
NatWest
Bank
19Cardiff Road
Caerphiily
CF639FQ
independent examiner Claire Thompson FCA DChA
Azets Audit Service
Ty Derw
Lime Tree Court
Cardiff Gate Business Park
Cardiff
CF23 6AB

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
Notes 2023 2023
f		 2023
f.		 2022
8		 2022 2022
8
Income from:
Donations
and
legacies 100,296 100,296 26,844 26,844
Charitable
activities		 400,592 115,045 515,637 355,772 268,086 623,858
Other trading
activities 6,283 6,283 5,915 5,915
Investments 1,333 'l,333 185 185
Total income 508,504 115,045 623,549 388,716 268,086 656,802
~ECht
Charitable
activities		 520,920 237,221 758,141 495,275 214,620 709,895
Net expenditure for the
yearl
Net movement in funds (12,416) (122,176) (134,592) (106,559) 53,466 (53,093)
Fund balances at 1 April
2022 89,651 754,028 843,679 196,210 700,562 896,772
Fund balances at 31
i))larch 2023 77,235 631,852 709,087 89,651 754,028 843,679

2023 2022
Notes 6 E
Fixed assets
Tangible assets 13 508,714 519,705
Current assets
Debtors 14 105,986 35,178
Cash at bank and in hand 105,129 300,803
211,115 335,981
Creditom: amounts falling due within 15
one year (10,742) (12,007)
Net current assets 200,373 323,974
Total assets less current liabilities 709,087 843,679
Income funds
Restricted funds 16 631,852 754,028
Unrestricted
funds		 77,235 89,651
709,087 843,679

2023 2022
Notes 6 8
Cash flows from operating activities
Cash absorbed
by operations		 18 (195,508) (145,347)
Investing activities
Purchase oftangible
fixed assets		 (1,499)
Investment income received 1,333 185
Net cash (used in)/generated from
investing activities (166) 185
Net cash used in flnancing activities
Net decrease in cash and cash equivalents (195,674) (145,162)
Cash and cash equivalents at beginning ofyear 300,803 445,965
Cash and cash equivalents at end of year 105,129 300,803

Unrestricted Unrestricted
funds funds
2023 2022
6 6
Donations and gifts 1,132 580
HMRC Theatre Tax Relief 99,164 26,264
Charitable activities
2023f 2022
6
Performances 10,514 5,714
Education 131,099 94,906
Grants 374,024 523,238
515,637 623,858
Analysis by fund
Unrestricted funds 400,592 355,772
Restricted funds 115,045 268,086
515,637 623,858

Unrestricted Unrestricted
funds funds
2023 2022
6 6
Feed in tariif 2,283 2,171
Workshops and t-shirts 4,000 3,744
Other trading activities 6,283 5,915
6 Investments
Unrestricted Unrestricted
funds funds
2023f 2022
8
Interest receivable 1,333 185
7 Charitable activities
2023 2022
6
Staff costs 191,198 186,175
Depreciation 12,490 12,345
Performances 341,087 299,119
Subscriptions 4,568 3,161
Advertising and marketing 47,253 59,872
Repairs and rates 35,133 54,207
Administrative costs 12,064 11,267
Insurance 6,765 4,429
Vehicle costs 27,550 10,692
Other projects 55,747 55,029
Travel and subsistence 16,996 8,709
750,851 705,005
Share ofgovernance costs (see note 8) 7,290 4,890
758,141 709,895
8 Supportcosts Supportcosts
Support Governance 2023 2022
costs costs
8 2 f
Accountancy
fees		 7,290 7,290 4,890
7,290 7,290 4,890
Analysed between
Charitable activities 7,290 7,290 4,890
Net movement Net movement in funds 2023 2022
8 8
Net movement in funds is stated after chargingl(crediting)
Depreciation of owned tangible fixed assets 12,490 12,345

The average
 monthly
number ofemployees
during th		 e year was:
2023 2022
Number Number
Production
staff
Administration staff
Employment costs 2023 2022
6
Wages and salaries 175,421 147,004
Social security costs 11,779 10,315
Other pension costs 3,998 4,247
191,198 186,175

artistic dire ctor and the administrator.
The remuneration		 ofkey management
personnel,
is as follow		 s.
2023
6		 2022f
Aggregate compensation 113,856 113,425

13 Tangible fixed assets Tangible fixed assets
Freehold Equipment Total
pi'opertrf
Cost
At 1 April 2022 601,854 48,151 650,005
Additions 1,499 1,499
At 31 March 2023 601,854 49,650 651,504
Depreciation and impairment
At 1 Apdil 2022 83,884 46,416 130,300
Depreciation charged in the year 12,039 451 12,490
At 31 March 2023 95,923 46,867 142,790
Carrying
amount
At 31 March 2023 505,931 2,783 508,714
At 31 March 2022 517,970 1,735 519,705
14 Debtors
2023 2022
Amounts
falling due		 within one year:
Prepayments and accrued income 105,986 35,178
15 Creditors: amounts falling due within ons year
2023 2022
Accruais and deferred income 10,742 12,007
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17 Analysis ofnet assets Analysis ofnet assets between between funds
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2023 2023 2023 2022 2022 2022
E E E E E
Fund balances at 31
March 2023 are
represented
by:
Tangible assets 1,308 507,406 508,714 519,705 519,705
Current assets/(liabilities) 75,927 124,446 200,373 89,651 234,323 323,974
77,235 631,852 709,087 89,651 754,028 843,679
18 Cash generated
from		 operations 2023 2022
E
Deficit for the year (134,592) (53,093)
Adjustments
for:
Investment
income recognised		 in statement offinancial activities (1,333) (185)
Depreciation
and impairment		 oftangible fixed assets 12,490 12,345
Movements
in working		 capital:
(Increase)
in debtors		 (70,808) (32,440)
(Decrease) in creditors (1,265) (71,974)
Cash absorbed
by operations		 (195,508) (145,347)
19 Analysis ofchanges in net funds