2022-03-31-accounts - Theatr Brycheiniog Cyf

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INDEX TO THE FINANCIAL	STATEMENTS
for the year ended 31 March 2022
		Page
Reference and Administrative Information
Report ofthe Trustees
Report ofthe Auditors
Statement ofFinancial Activities
Balance Sheet		12
Statement ofCash Flows		13
Notes to the Financial Statements		14
Detailed Income and Expenditure	Account	23

G S Blackledge
A K L,Collinson	(appointed			14 February 2022)	Vice Chair
H F Davis
JGold (appointed		15 February 2022)
K C Griffiths (resigned			4 October 2021)
N BA Groombridge
ELJeffreys
EJJenkins
SJ Jones					Chair
TD Iviellerick-Wheeler			(appointed 14 February 2022)
EA Owen
RA E Paton (appointed			14 February 2022)
Theatre Director:					D R Wilson
Registered office:					Theatr Brycheiniog
					Canal Wharf
					Brecon
					Powys
Auditors:					W JJames	and Co
					Chartered	Accountants		and
					Statutory	Auditors
					Bishop House
					10Wheat	Street
					Brecon
					Powys
Bankers:					The Co-operative		Bank
					PO Box250
					Skelmersdale
					Lancashire
Registered number:					2446965
Registered charity		number:			1005327
Solicitors:					King Davies dc Partners
					Lloyds Bank Chambers
					18Talbot	Street
					Maesteg
					and
					Refreshing	Law	Limited
					Momington
					Drope Road
					StGeorges-Super-Ely
					Cardiff

for the year ended 31	Ma	rch 2022
				Unrestricted	Restricted	Total	Total
			Notes	funds	funds	2022	2021
INCOME
Donations and grants				497,886		497,886	546,618
lncomefrom charitable	activities:
Operation oftheatre and	arts centre			90,816	36,772	127,588	253,109
income from other trading		activities		228,235		228,235	40,395
TOTAL INCOME			16	816,937	36,772	853,709	840,122
EXPENDITURE
Costs ofraising funds:
Trading operations				40,431		40,431	10,953
Expenditure on charitable		activities:
Operation oftheatre and	arts centre			725,734	33,778	759,512	502,717
TOTAL EXPENDITURE			16	766,165	33,778	799,943	513,670
NET INCOME				50,772	2,994	53,766	326,452
Transfers between funds
NET MOVEMENT IN	FUNDS			50,772	2,994	53,766	326,452
Reconciliation offitnds
Fund balances brought	forward
at I April 2021				116,383	48,098	164,481	(161,971)
Fund balances carried	forward
at 31 March 2022			17	167,155	51,092	218,247	164,481

BALANCE SHEET as at 31 March 2022
				2022		2021
		Notes
FIXEDASSETS
Tangible assets		13		114,368		42,274
CURRENT ASSETS
Stock			8,227		5,424
Debtors		14	44,050		64,357
Cash at bank and in hand			215,888		128,148
			268,165		197,929
CREDITORS: Amounts	falling
due within one year		15	164,286		75,722
NET CURRENT ASSETS				103,879		122,207
TOTAL ASSETSLESS	CURRENT
LIABILITIES				218,247		164,481
				218,247		164,481
RESERVES
Unrestricted income funds:
General fund		16		49,155		116,383
Designated fund		16		1]8,000
				167,155		116,383
Restricted funds		16		51,092		48,098
				218,247		164,481

for the year ended 31 M	a	rch 2022
					2022	2021
				Note	8
Cash used in operating	activities			25	208,987	142,048
Cash flows from investing		activities
Interest income
Purchase oftangible fixed		assets			(121,247)	(32,216)
Proceeds from disposal of		fixed assets				400
Cash provided by (used in) investing			activities		(121,247)	(31,8]6)
Increase in cash and cash	equivalents		in the year		87,740	110,232
Cash and cash equivalents		at the beginning ofthe year			128,148	17,916
Cash and cash equivalents		at the end ofthe year			215,888	128,148

THEATR BRYCHEINIOG CYF	THEATR BRYCHEINIOG CYF
NOTES TOTHE FINANCIAL STATEMENTS
for	the year ended 31March 2022
3.	INCOME FROM DONATIONS AND GRANTS				2022	2021
	Brecon Town Council —core funding				7,500	7,500
	Brecon Town Council —Covid-19 re-opening	grant				2,500
	Powys County Council —core funding				21,719	34,467
	Powys County Council —Covid-19 additional	funding			4,000	45,000
	Arts Council ofWales —core funding				196,749	]96,749
	Arts Council ofWales —Covid-19 stabilisation	grant				60,000
	Arts Council ofWales —Cultural Recovery Fund		I grant		16,831	151,481
	Arts Council ofWales —Cultural Recovery Fund 2 grant				113,747
	Arts Council ofWales —Cultural Recovery Fund 3 grant				121,500
	Welsh Government —Economic Resilience Fund Covid-19 grant					30,000
					482,046	527,697
	Donations and sponsorship				15,840	]8,921
					497,886	546,618
	INCOME FROM CHARITABLE ACTIVITIES				2022	2021
					g
	Income from admission charges				58,127
	Merchandising and programmes				836
	Income from performances				58,963
	Other grant income (unrestricted):-
	HM Revenue k, Customs —Coronavirus Job Retention			Scheme grant	31,853	213,109
	Support from grant income (restricted):-
	Welsh Government —We Need Bees performance				15,000
	Other grant income (restricted):-
	Theatres Trust —camera equipment				5,000
	Brecon Town Council —camera equipment				2,000
	Arts Council ofWales —capital				14,772	40,000
					36,772	40,000
	Total income from charitable activities				127,588	253,109
	INCOME FROM OTHER TRADING ACTIVITIES				2022	2021
	Hire offacilities				42,015	6,627
	Bar sales, bistro and event catering				94,287	10,994
	Other catering income				10,994
	Other income				80,939	22,774
					228,235	40,395


7.	COSTS OF RAISING	FUNDS			2022		2021
	Bar and bistro purchases, event		catering
	and vending supplies				40,431		10,953
	ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES
				Concerts
				and stage		2022	2021
			Note	performances	Education	Total	Total
	Direct Chart tabte Expenditure
	Touring company performance		fees,
	workshops and classes			72,077		72,077	1,]00
	Backstage and other production		costs	19,312		19,312	4,815
	Programme research
	Advertising, marketing	and box	office	57,250		57,250	11,780
	Central premises costs			140,751		140,75 1	111,339
	Staffcosts		10	411,468		411,468	342,188
	Depreciation			49,154		49,154	23,195
	Governance costs			9,500		9,500	8,300
				759,5]2		759,512	502,717
9.	GOVERNANCE COSTS				2022		2021
	Auditor's remuneration				9,500		8,300
10.	STAFF COSTS				2022		2021
	Salaries and wages				378,372		318,797
	Social security costs				22,482		16,240
	Compensation for loss ofoffice				1,340
	Employer pension contributions				9,274		7,141
	Recruitment costs						10
					411,468		342,188
	No employee earned more than		660,000per annum	(2021:nil).

(including casual and part time staff) employed during	the year was:
	2022	2021
Trad lllg	10	10
Boxoffice, sales and marketing	4	4
Concerts and stage performances	4	4
	18	18

	The charity is exempt from tax on	The charity is exempt from tax on	income and	gains falling within	gains falling within	section 505 ofthe Taxes Act 1988and section	section 505 ofthe Taxes Act 1988and section
	252 ofthe Taxation	ofChargeable	Gains Act 1992to the extent that these are applied to its charitable objects,
13.	TANGIBLE FIXEDASSETS			Fixtures		Technical General
				and fittings	equipment equipment		Total
	COST:
	At 1 April 2021			171,701		150,409 93,896	416,006
	Additions			85,292		12,063 23,892	121,247
	Disposals			(3,3 19)		(1,566) (8,624)	(13,509)
	At 31 March 2022			253,674		160,906 109,164	523,744
	DEPRECIATION:
	At 1 April 2021			147,591		146,793 79,348	373,732
	Charge foryear			31,827		5,072 12,254	49,153
	Eliminated on disposals			(3,319)		(1,566) (8,624)	(13,509)
	At 31 March 2022			176,099		150,299 82,978	409,376
	NET BOOK VALUE:
	At 31 March 2022			77,575		10,607 26,186	114,368
	At 31 March 2021			24,110		3,616 14,548	42,274
	All fixed assets held are used for the		management	and administration		ofthe theatre.
14.	DEBTORSi AMOUNTS FALLING
	DUE WITHIN ONE	YEAR				2022	2021
	Trade debtors					6,586	4,981
	Other debtors					15,564	46,104
	Prepayments and accrued income					10,852	3,043
	Value Added Tax					11,048	10,229
						44,050	64,357
15.	CREDITORS: AMOUNTS FALLING
	DUE WITHIN ONE	YEAR				2022	2021
	Trade creditors Other creditors					44,866 19,505	3,591 14,104
	Accruals and deferred	income				78,153	40,479
	Advance ticket sales					21,762	17,548
						164,286	75,722

for th	e year ended	31 March 2022	31 March 2022
16.	ANALYSIS	OF CHARITABLE FUNDS
			Balance at	Movements		in Reserves		Balance at
			I April	(including		transfers)		31 March
			2021	Incoming	Outgoing		Transfers	2022
	Unrestricted	fiends
	General fund		116,383	816,937		766,165	(118,000)	49,155
	Designated funds
	Contingency	Reserve					48,000	48,000
	Staffing Resource Emergency		fund				40,000	40,000
	Utilities, Energy and Buildings
	Emergency	Reserve					30,000	30,000
			116,383	816,937		766,165		167,155
	Restricted funds:
	Capital grants		48,098	21,772		18,778		51,092
	Performance	of"We Need Bees"		15,000		15,000
			48,098	36,772		33,778		51,092
	Total		164,481	853,709		799,943		218,247

			2022	2021
Expiring	in less than one year
Expiring	between	one and five years	5,532	9,120
Expiring	in more	than five years
			5,532	9,120

	2022	2021
Net movement in funds	53,766	326,452
Add back depreciation charge	49,153	23,395
Deduct profit on disposal offixed assets		(200)
Decrease (increase) in stock	(2,803)	3,358
Decrease (increase) in debtors	20,307	(34,662)
Increase (decrease) in creditors	88,564	(176,295)
Net cash used in operating activities	208,987	142,048

DETAILED INCOME	AND EXPEN	AND EXPEN	AND EXPEN	DITURE AC	COUNT
for the year ended 31	March 2022					2022			2021
INCOME:
Boxoffice						58,127
Merchandising and programmes							836
Hire offacilities						42,015			6,627
Revenue grants						528,899			740,806
Bar sales, bistro and event			catering			94,287			10,994
						724,	164		758,427
OTHER INCOME:
Donations and sponsorship						15,840			18,921
Release ofcapital grants						18,778			12,503
Other catering income						10,994
Other income						76,939			18,774
Employinent Allowance						4,000			4,000
						850,715			812,625
EXPENDITURE:
Event and project costs					72,077			1,100
Programme research
Bar and bistro purchases,		event catering
and vending supplies					40,431			10,953
Salaries and wages					402,194			335,037
Pension contributions					9,274			7,141
Recruitment costs								10
Telephone					3,976			4,181
Postage and stationery					9,859			2,126
Sales commission					3,580			182
Advertising and printing					40,385			9,471
General marketing costs					3,427
Travelling					1,267			],270
Rent					100			100
Heat and light					32,200			26,050
Insurance					6,031			5,939
Water rates					3,771			2,240
Hire ofequipment					15,057			3,542
Equipment maintenance		and consumables			4,265			1,274
Repairs to property					19,326			29,831
Subscriptions, affiliations,			PRS and licences		7273			3,024
Refuse collection, computer			and sundry	expenses	18,914			13,501
Auditor's remunemtion					9,500			8,300
Legal and professional	fees				33,423			17,541
Training					4,019			30
Cleaning					5,350			2,606
Bad debt expense					60
Irrecovemble VAT								2,872
Depreciation					49,153			23,395
(Profit) on disposal offixed assets								(200)
						(794,912)			(511,516)
Carried forward						55,803			301,109

THEATR BRYCHEINIOG CYF	THEATR BRYCHEINIOG CYF
DETAII.ED INCOME AND EXPENDITURE ACCOUNT (Continued)
for the year ended 31 March 2022
	2022			2021
Broughtforward		55,803		301,109
FINANCE COSTS:
Bank charges	723		358
Credit card charges	4,308		1,797
		(5,031)		(2,155)
SURPLUS FORTHE YEAR		50,772		298,954