#
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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|
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|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||||
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|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|
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|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|
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|||||||||
|---|---|---|---|---|---|---|---|
|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|
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||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|
##
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|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|
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||||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|
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||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|
##
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|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|