## |||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| ||||||||44||CO|||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||||||||C«||CI
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00| ## |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|||||||||