REGISTERED COMPA]YY NUMBER: 2446965 (England and Wales) REGISTERED CHARITY NUMBER: 1005327 Report of the Trnslees aDd Flnan¢lal Statements for the Year End¢d 31 Mar¢h 2024 for Theatr Brychelniog CYF Ashmole and Co. Chartered Certifi¢d Accountants and Statutory Auditors Williamston Hous¢ 7 Goat Strttt Haverfordwesl Pembrokeshire SA61 IPX
Theatr Bryehelnlog CYF Cont¢nts of the FlnanciAI StAtements for the Year Ended 31 March 2024 Page Report of the Trustees Report of the Ind¢pendeDt Audltors 11 to 14 Statement of Finanelal Actlvhles 15 Balance Sheet 16 to 17 Casb Flow Ststement 18 Notes to the Cash Flow Ststemtnt 19 Notes to the Finanei&l Statements 20 10 27
Theatr Brycheiniog CYF (Regtstered number: 2446965) Report of the Trustees for the Year Ended 31 March 2024 The trustees who are also directors of the charity for thc purposes of the Companies Act 2006, present their report with the rinancial statements of thc charity for the yeaT cndcd 31 March 2024. The trn4tees have adopted ihe provisions of AountIng and Reporting by Charities". Statemenl of Recommeadcd Ptaclice applicable to chaTities preparing their accounts in accordance with the Financial Rcporting Siandard applicabl¢ in the UK and Republic of Ireland (FRS 102) (effective I January 2019}. 0ECTIvEs AND AcfIviTIES Objectives and Ydims Theatr Brycheiniog (TB) is a community-based presentation and cfrprodu¢in8 arts centre SIated in the Brecon Beacons and serving South Powys, Mid and South Wal¢s and beyond. Its charitable objccts are "to promote. maintain, improve ond adyance education. particularly by the presentation and producing of plays and other mat¢rial, &nd the encourag¢ment of the art& including th¢ Arts of thwna, mime. dance and music" Theatr Brycheiniog works collaboratively with its many partners and stakeholders lo provide a warni and welcoming theatre which delivers a professional and high-quality programme, across 8 wide rang¢ of artistic genres, ¢0 iDspire and engage its audiences. During 2023. Theatr Brycheiniog Cyf developed a new Business Plan including an evolution of our aims. objectives and core values to better align with the priorities of our matn funding parnier the Arts Council of Wale& The aims and objectives are: l. Deliver creativity 2. Involve everyone 3. Celebrate Wal¢% 4. Lcad responsibly 5. Develop people 6. Challenge ourselves The Business Plan is hcadlined.. We are for everyone, every day. In S¢pÉember 2023, Theatr Brychciniog was notified by the Arts Coun¢il of Wales that following its Investment Review we would remain an Arts Portfolio Wales Organisation with an indicative settlcment provisionally fixed al the same amount as previous years. In February 2024, we. along with all other such funded organisations. were nolified that the core grant would hav¢ to be reduced by 2.5¢/4 because of a 10.5D/fy reduction in the ACW'S Welsh Government fitnding. During the early months of 2024 we worked with ACW offi¢eT5 to agree the twms of our Funding Agr¢ement. This reflect5 the reduced core payment, th¢ substantial incre¢ in inflation and other cost pressures and the ?mpa¢l that this on our business plan aspirations which will be revised during the course of 2024n5 to reflect the changed economic ¢ircumstances. We thank Arts Counctl of Wales for the ongoing support in the challenging times faced by the whole of the arts sector. Page I
Theatr Bry¢heRniog CYF (Reglstered number: 2446965) Report of the Trustees for the Year Ended 31 March 2024 owEIvEs AND ACTIVITIES Organisational revie Theatr Brycheinio¥ has seeD progress on a number of fronts despite the strong financial challenges noted above. In January 2024. our new Director, Eleri B Jones twk up the ltrddership of thc charity. She has worked with ttusttts and her Senior Management Team, staff voluntccrs and exwnal supporters to vI¢W all of the charity's operntion. incrcasc our financial Stability and start planning foi a more sustainable long-terni fi1tll The board is c5ye¢ially grdteful foT all the hard work of our Senior Management Team and the entiTC Staff for maintaining operdtion5 bcfote Eleri was able to join us. In February 2024. work began on a major upgrad¢ to the theatre building with completion due before th¢ end of the y. £1.8m of UK Government L¢velling Up Funding wa5 grdnted lo Powys County Council. as owners of the buildin8 to update the physical infrastructure including doors, window& toilets, lifts and air handling facilities. The same month also saw the successful conclusion of D¢goÉiations betsveen Poys County Council and Theatr Bryrheiniog Cyf to gtanl a n¢w lease of 25 years on the wmpletion of the building work. Th¢ Theatr was also successful in being awarded a major capitsl grant by Arts Council of Wales io replace its aging and energy-consuming stage and auditorium lighting and ancillary equipment, much of it dating ba¢k io the opening of the building a quarter of a century ago. Our in-house techni¢al l¢am delivered the replacement of the fully LED stage lighting, sigThificaDtly improving energy eificiency, while specialist contractors du¢ to replace the audilorium lighiing systems during 2024. The financial year has seen the growing success of the Theatr's café operation following Èhe refurbishment of the kttchen and front of house arcdS duting the summer of 2022. A great deal of hard work by the staff team has resulted in a substantial increase in income, as not in the accounts, bui also a big increase in expcnditure due lo increased consumption. increased staifing and the growing cost of supplies. This has required constant fmancial monitoring to ensure that the commerci activity continues to contribute lo the wider WO of the charity. The difficult cconomi¢ climate h&8 seen &dditioDal challenges for both our finance and our rnarkcting and audience teams. They h&vc sought to constantly adapt and improve operations to ensu the ongoing stability of thc tharity. Arts Council of Wales continue to be our larg&qt financial suptM)rtcr with addilional and very welcome funding a150 coming from Brecon Council and Powys County Council during the year in review. We are also grateful for our growing team of volunteers who act as 51cwards and our many Friends. Patron5 and supporters in the wtder community who visit the tb¢atre to see shows, enjoy our café and bar, use our car park, help with fundtaising and contribute to the ongoing viability of th¢ charity. In fact, it would be impossible to op¢rate without our arn)y of volunteer stewards. gardencrs to maintain planting around the Theatr site and trnsl¢es. Each of our main auditorium shows use between six and thirteen steward5 tl¢allY operating for two to four hours per show. It would be economically unfeasible lo slate an aUral¢ cash value for that work but even using the Natiot)al Minimum Wage, we estime a figure of 4.300 hours of voluntary work worth £44,806. In addition, senior ttvstees spent many hours each week supporting the Senior Management Team during the extended gap between dIrLOr$ during the second half of 2023. Again, it would bc ewnomically unfeasible lo calculate an accurate figure for the number of hours or the ¢ash value but a guesstimate would suggest a total of around 4(K) hours and C&8h value of around £5,0(K> on lop of the ffgular trustee meetings. Page 2
Theatr Brycheiniog CYF (Registered number: 2446965) Report of the Trnstees for the Yegr Ended 31 March 2024 OWECTIVES AND AcfiviTIES Public benefit In preparing this re[. the TTuslees hav¢ had regard to chlty Commission guidan¢e on public benefit. Th¢atr Bry¢heiniog is a major employer in the town and significant contrtbutor to the local economy. We striv4 in both the building and the perforn)ing arts programme we psen( to be accessible lo all sections of the community. and to encourage diversity of use and of users, and we publicise the Theatr's activities widely. We continually update our policies and action plans covering diversity throughout the organisation and diversity of acces4 visitor and user safery and promotion of the Welsh language. Theatr Brycheiniog is committed to offffling bilingual access to audiences and visitors wherever possiblc and to put in place thc PTactical training and infr&strnctUTe to support users with diversc nccds. Theatr Brycheiniog is home lo numerous art5 and perforniancfrbased community groups including Brecon Festival Ballet. Brecon Baroquc Festival, Bre£on Jazz, the Westenders. Mid Wales Dance Academy, BTecon Little Theatre, the Federdtion of Young Farniers, Clubs and BTecknock YFC, the Urdd, the University of the Third Age lu3a], Theatr Wtldcats. TaiTro Drumming, the Uplift alld Alive and Kicking Community Choirs, The Breci<nock Society and Brecon Town Concert Band. We also encourage local schoo15 to use our facilities and attend performances on a regular basis, and we provide an ouilet for visual artists by exhibiting their works in our public spaces. Page 3
Theatr Bry¢helnlog CYF (Registered number: 2446965) Report of the Trnstees for the YeAr Ended 31 March 2024 ACHIEVEMENT AND PERFORMAI¥CE Charitsbk Aetlvltles The financial year h&s seen us present a wide rang¢ of ev¢nts across a diverse range of art f0rn1s, providing over 29,0(K) tickets to mor¢ than 265 events. We continue to host some of the finest professional perforniaThc&% available to us from a¢rogs Wales and beyond. Highlights included th¢ critically acclaimed Candid¢ from Welsh Naiional Opera and th¢ stirring Viennese Celebration from the WNO Orchestra: The BBC National Or¢h¢stra of Wale& the internationally renowned Rachel Podger with Brecon Baroque Festival, shows from the Brecon Jazz Festival, Opr4 Cymru's Cozi Fan Tutli and Verdi's mbeth from Mid Wales Opern. We have hosta many high-profile artists from across the arts including Francis Rossi of Status Quo fame, the legendary FaiTikn Convention, Lindisfarne, Freedom to Roam featuring Welsh compo, musician and harpist Catrin Finch. Comedy has come from Radio 4 star Alfie Moore plu4 across the year, our regular Theatr Brycheiniog Comedy clubs. The Drama offer has includd Pentabus shows One of them Ones and Driftwood" Carwyn. reflecting the life of rugby legend Canwyn James. from Torch Theatre, P¢mbrokeshire and naiionally 8c¢laimed playwright Owen Thomas. The 2024125 year start with another highlight from Theatr na nOg'5 Opuation Julie which had an incredibly popular rnn across five shows. Our stage has also seen A Christmas Carol from the Swansea-based Lighthouse Theatre Company and The Adventure of Sherlock Holmes from Black Rat Productions and th¢ Blackwood Miners, Institute. Dance h&$ come from National Dance Company Wal¢s (Pulse) and Ballet QqnN, with family frtendly shows including Red Riding Hood and rhe Three Little Pigs. DaDC¢ is also al the heart of some of our most successful and popular community offerings. BrOrt Festival Ballet returned witb their Christm&s favourite, The Nutcracker, combining outstanding professional dance talent with professional musicians and emerging young perforn)aB. Nearly W/0 of the 160 people involved The Nutcracker are Welth born or based, showcasing the best of Welsh talent. BFB were back in April, just afier the year in review. with the unique and inspiring Welsh-rooted Tanio'r Ddraig, a new ballet based on Welsh folk songs - along with Swan Lake, Act 2. Th¢ Mid Wal¢s Dan¢¢ Academy added to the celebration of dance - while also offeting y¢ar-round weekly trainins from the theatre's studio. Other highlights from Bre¢on's Creative community included popular runs of Brecon Little Theatre's Return to the Forbidden Planet and the Westenders, 75th annual pantomim4 Cinderella. The Br¢cknwk YFC, the Urdd and the Bre¢on Town Concert Band also showcased a wide range of community talent including an arnjy of young ppIe. The de¢ply moving Concert for Drew. the Lewi5 Merthyr Brass Band and Paul Shallcross Ensemble and the u3a Festival underlined the range of prof¢ssi(mal and community talent coming through our doors. The range of work on offw during the year covered many other interests: * W¢lsh language works included th¢ Welsh language adaption of Phoebe Waller-Bridge's F]eabag from Theatr Clwyd, Golygfeydd Pla Du from Theatrau Sir Gar and supported by Theatr Genedlaethol Cymru. and Jemima from Cwmni Theatr Arad * Young people enjoy¢d Ferdl MoDSter from National Theatre Wales, Hansel & Gretel from Shern)an Th¢8tre. Theatr na nog's Butt¢rtly Hunter, Splashtest Dumrnies. The Amazing Bubbleman. Theatr Wildcats and Seren Stars Showcase and Frogs ID Bogs from Familia de la Noche. Members of the Gwent and Powys Amy Cader Fo¢ joined with professional musicians from across the UK for the 24th Rorke's Drift Concert. The National Theatre Connections F¢slival saw young people from across South Wal&q given the opportunity to perforn) new works by prominent national playTights. * Our live screening programme allowed us to Continue showcasing high-quality work from around the UK. National Theatre Live brought us Life of Pi, Degr Englanl The Best of Enemies, Vanya, Skylight. Frorn tke Royal Operd House we screened Th¢ Marriage of Figaro, 11 Travatore and Das Rheingold, with the Royal Ballet bringing us Sleeping Beauty and Don QLtixo*. We gasp¢d at some of the gravity defying stats of the Banff Mountain Film Festival and celebrated the Christmas favouril< Th¢ Snowman, with a sell-out show featuring a live orch¢stra. * Talks included Welsh rngby's refereeing sup¢rstRr Nigel Owen. 'ro¢kslar' climber Hazel Findlay. Kenton C(KyI with Everest, th¢ Untold Story. a Climate Justice Season in partnership wilh the Bannau Brycheiniog National Park and Black Mountains College as well as The Brecknock Society's annual Sir John Lloyd lecture. Page 4
Theatr Brychelnlog CYF (Reglstered number: 2446965) Report of the Trustees for the year Ended 31 Mgreh 2024 * Tribute bands have been a small but highly popular part of our prOamming, bringing in often sell-out perfornianS that support other, less commercial parts of our sch¢dule. They have included: Yourytlllnics, The Simon and Garfilnkel Storyy the Jive Ta]kin' Bee Gees lribute and From Gold lo Rio with the greatest hits of Spandau Ballet and Duran Duran. Lastly. Theatr Brycheiniog was the focus of some positive UK wide publi¢ity as we worked with the Welsh Government to host a reception for Their Majesties the King and Queen in July 2023 on their first official visit to Wales following their coronation. The day allowed us to showcase our facilities, staff and catering to around a hundred gu¢st5 representing a wide array of Welsh public, business and third secior organisatiotl8. Fundralslng actlvities Theatr Brycheiniog has been deligbted and encouraged that it has continued receive its core funding from the Arts Council of Wa1¢5 and Powys Counry Council during the year under review. Br¢¢on Town Council has also mainrained its support in this most diificuli of times. Details of this fvnding and other a¢tiviti¢s are shown in the financial statements later in this report. Friends and Patrons continued their generou5 SUPPOrt throughout the year and our volunteer amy of steward5 continue to offer & dedicated service. BUILDIIYG The Buildings & Health and Safery SU¢0MmIttee ensures that a regular progrdmme of maintenance and safety checks is carried out and th¢ building is thlly insured for a]1 risks. As noted earlier in this r¢port, work besan in early 2024 on th¢ £1.8m UK-Government funding upgrade of some of the building's infrastructure. No money is Coming directly lo Theatr Brycheiniog as a Te5uIt of this project, WiTh all financial transactions between the UK Government, Powys County Council and their commercial contractors. Indeed. there will be a redu¢lioD of income across the summer of 2024 as our main auditorium will be out of use for several weeks while areas of replacement works are carried out. However, the long-tenn impact should be a positive one for all users of Theatr Brycheiniog. The substantial Acw-funded work on the stage and auditorium lighting systems has had a small bul positive daily impact on fuel bills which should add up to a significant long-terni b¢nefit as we Continue to pay higher energy bills over recent yfdrs. Page 5
Thegtr Brycbelnlog CYF (R¢EiStered number: 2446965) Report of the Trustees for the Year Ended 31 Mareb 2024 FINANCIAL REVIEW Finantial posltloll The Ststemenl of Financial Activities for the year ending 31 March 2024, th¢ Balance Sheet and related not¢s illustrate some of the ongoing challenges which have faced the charity during the finan¢ial year. While iotal income rose from £991,869 to £1,317,777, total expenditure ro almost as rapidly from £1,144,692 to £1,468:076 resulting in a negative nel movemeni in funds of £150,299 - a small Teduction of just £2,524 over the previous year. Dq)lation tharges Continue to be a signifi¢ant figure at £154,444 (previously £106,380) (Notes to Cash Floiv sement l) Other financial pressures - many of ihem beyond th¢ control of the charity - remain an ongoing challenge - as demonstrated in the Detailed Statemeni of Finan¢ial Activiti&8. Our healing and lighting bills rose from £38,871 to £119,105 an increase of over £80,000. our wages bill rose from £518,288 10 £652,378, an increase of mor¢ than £130,000. A large part of that is driven by the increase ID the National Minimum wage along with the filling of vacancies during the year and increased activity in our cafe. In contrasL box office income has fallen by more than £25,000 (now £180,439, down from £207.046) as inflation and the cost-of-living ¢risis eat into famili¢s' disposable income. Our donations and grant income is also down around £25.{0 (now £229,499, down from £254.369}. Half of this reduction is bause the earlier year includes a covid support payment but our Powys County Council core nd grant was also halved from £21,719 to £9,444. Powys County Council have noiified us that this grdnt will be reduced to z¢ro from the stort of the current financial year. On the positiv¢ sid4 our bar, bistro and evenl catering has increased income levels from £172,390 to £370,049 showing the benefits of previous investment in this service and the hard work of the ream thal delivers it. Bul this also necessitates constant work lo ensur¢ that profit mar8ins allow this activity to contribute lo th¢ overall work of the ¢harity and reflect the Cosl of sales in a world of ever-Ineasing prices. Since the end of the financial year, Arts Council of Wales, supported by the W¢lsh GovernmenL has ad to make a subslanlial additional grant payment during 2024 125 allowins the charity to retain jobs dpIte the challenging financial outlook. This will allow the charity to address the accumulated deficit, as detailed below. We are gratefvl lo ACW for that ongoing support. Reserves polity Reserves accrued in previous years, mosily as a result of covid related support payments, have been expendd, as foreseen and planned on a range of pressing financial requirements. The audited a¢¢ounts identify a deficit for the end of the financial year for the reasons identified ITh the financial review. However, it remains the long-l¢rni wylicy of the board that we seek to build up a pginanent reserve of three months of fi]nds. Having secured a substantial wmmitment of financial support from the Arts Council of Wales which will allow us to resolve the historic deficit during the 2024125 financial year, work is und¢nvay at the time of writing lo identify additional inc4)me streams and maintaining strict expenditure control, to allow the reserves policy lo be delivered Page 6
Theatr Bryehelnlog CYF (Registered number: 2446965) Report of the Trustees for ibe Y¢*r Ended 31 March 2024 FUTURE PLANS In the autumn of 2023, the board commissiorjed an external arts consultant lo begin a process of work identifying what nccdcd lo be done to offer Theatr Brycheiniog. its slaff, boarf supportcrs and ils family of users a more sustainable future. That work has continucd, as an ongoing project led by our new director Eleri B Jonc5. Some worK including decisions on gtaifing, operdtional cosis and the commiqsioning of financially Challenging projccls were taken to addrS growing dcficits. An attempt to absorb as much of the increased costs th¥ charity is facing continue.% with small bire rate increascs anticipated in 24125. Further work is underway across the 2024r2025 financial year to review all activities and identify fi]rther eificiencies and opportunities for growth and innovation. Additional activiti and support paymenls by the Arts Council of Wales across 2024125 should allow Ibe ¢ompany to begin addressing the a¢mied deficit. Work is also being Carried out to identify new souwes of income including the commissioning of our own artistic and creative resources which will offer fresh sources of income in fjJture years. A refocused and more tax efficient Friends and Patrons sch¢m¢ will be launched during the summer of 2024, allowing mor¢ money lo be rAised from a growing pool of our loyal supporters while also maximising the amount of donations that can also attract Gift Aid payments from HMRC. We are also progressing on the setting up of a wholly-owned trading subsidiary to give appropriate separntion between the incre&8ingly successful operation of our cafe and bar work and our core charitable activities. STRUCTURK, GOVERNANCE AND MANAGEMEIYT Governing document Thc chatily is controlled by its goveming documenL a deed of trust, and constitutes a limited company. limited by guarante4 as defined by thc Companies Act 2006. Theatr Brycheiniog Cyf is a company limited by guaranl¢e governed by ils Memorandum 8nd Articles of Association dated 17 December 2019. It was incorpordted under the name of Brccon Guildhall Theatre Limited on 27 November 1989 and changd its name to Theatr Brycheiniog Cyf on 26 November 2(K18. It is regi8lered as a charity with the Charity Commission. Theatr Brycheiniog Cyf took on the management of Theatr Brycheiniog on a 28-year lease when it opened in April 1997. Th¢ building is owned by Powys County Council who have agred a new 25-year lease once the current Levelling Up Fund building works are complete. Page 7
Theatr Brycheiniog CYF (Registered number: 2446965) Report of the Trustees for ¢be Yer Ended 31 Mareh 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointmenl ofnew trustees Board of Trustees is in place to ovcrscc Ihc artistic and financial management of the eh2rity, to ensure legal compliance and to ensure the theatre is used by as many sections of the community and as wide a constituency in Mid Wales as is possible. Trn8tees are selected through a process of opcn rcctuilmenl a¢cording to skill and experience needs identified through self-audit and. also, thTough c(Foption when a particular gap in skills is idcntificd. Ncw trustees are ap]nted for a dcfincd tctm of three years may be r¢-elected for a second te and Tctirc by rotation. Their appointments are confirnied at the AGM following the&r recrnitment. New trustees follow a proc8 of induotion lo equip them for the role and are required to op¢rdt¢ to a Board Code of Conduct. In Febrnary 2024. Sally Jones stood down as Vic¢ Chair, baving previously chair&1 the board for many years and then agreeing ro lead the iK)ard's WOTk in securing a new lease and other legal agreemtS wilh Powys County Council. Th¢ board is grateful for Sally's many years of dedicated service in guiding the charity through some challenging tirnes. TTUStees Hilary Davis and Ann Owen succeed Sally as Co-vice Chairs. During th¢ Spring of 2024, trustees carried out a r¢view of current and forthcoming board skill requirements and as a resuli initiated a process of eoptIOn of thre¢ trusl¢¢s who could fill those pressing skills gaps. The IhT¢e individuals began lo see from the July 2024 board meeling. An open recruitmeni campaign was al launch to recruit a rther two lo three board members to take over the work of three board members who will stand down at ihe end of their second three-year pertod of service in October 2024. They are Sally Jones, Gary Blackledge and Elizabeth JetTreys. A fourtb board memb, Liz Jenkins, will be standing down at the same time and a fifth board member. Jayne Gold resigned in July 2023. The board tskes Ihis op]x)rtunity to ihank all those board members ftir their many years of dedicated service. OrganisAtional strneture Thc BoaTd mcets. quarterly to s¢rulinise management reports and accounts and day to day management is conducted by the Theatre Director and staff team. There a three sub-committees of the Board, bcing tbc Finance & Strategy Sub-committe4 the Buildings and H¢alth & Safdy Sub-committee and the Policies & Pr(KcduTcs su10mmIttee. These meet separately from the main Board. Each has defined Terms of Reference and membership which comprises selectcd BoaTd mcmbcrs and ClOpted advisers. Ad woting groups of Board members also occasionally meet to deal with specific issues on a task and finish b&sis. For exampl¢, a tnJst¢¢ Icads the group which deals with recrnitment of new trustees a5 dcscribcd above. Related parties Theatr Brycheiniog's relationship with ilb stakeholders is fundamental to it5 success and sustainability and also to it5 Posltion and perception within the community. Jis principal financial akeholderS have been identified elsewhere in this report as Arts Council of Wales (ACW) and P0y5 County Council (PCC), which is also ils landlord. Other organisation stakeholders include Brecon Town Council (BTC), the BTecon Beacons Nalional Park Authority (BBNPA). Wales c.ouncil for Voluntary Action (WCVA) and rnany connected community groups and users see Publi¢ Benefit. Also vitsl lo the Theatr's operation are our anny of local volunteers who sttward perfonnances and acl as advo¢ates in the wider ¢ommunity. our company m¢mbers, our Friends and Patrons. Page 8
Theatr Brycbelnlog CYF (Reglstered number. 2446965) Report of the Trustees for the Year Ended 31 MAreb 2024 STRUCTURE. GOVERNAIYCE AND MANAGEMENT Risk management The board scrurinises the financial perforniance of Theatr Bry¢heiniog Cyf. This is also done through regular dialogue wilh its key funding partners. A risk register is in place and key risks are mitigated including tnsurdnce cover provision where this is r¢l¢vant. Healrh and Safety within th¢ orgEmisation is overseen by the Butldings & Health and Safety sub- committee which also has over211 responsibility for risk assessment and management. Full buildins and fire risk assessments are in place and aclions are complded on a priority bas?s. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 2446965 (England and Wales) Reglstered Charity nutllber 1005327 Registered offlce Canal Wharf Brecon Powys LD3 7EW Trnstees A K R Collinson JRBond T Mell¢rick-Wheeler DrRAEPaton EAOwen E J Jenkins N B A Groornbridge H F Davis S J Jones G S Blackledge E L Jeffteys Audliors Ashmol¢ and Co. Chartered c.ertified A¢countants and Statutory Auditors Williamston House 7 Goat Street HaVerfOrdwt Pembrokeshire SA61 IPX STATEMENT OF TRUSTEES, RESPONSIBJLITIES The mistees (who are also the dire¢tors of Theatr Bry¢heiniog CYF for the purposes of company law) are responstble for preparing the Report of the Trustees and the financial statements in accordance with appli¢able law and Uniled Kingdom Accounting Standards. (United Kingdom Generally A¢pl Accouniing Practice). Page 9
Theatr Bryehelnlog CYF (Reglst¢red nUmr. 2446965) Report of the Trustees for the Year Ended 31 M&rch 2024 sTATEMErr OF TRUSTEES, RESPONSIBILITIES- Continued Company law requires the tmslees lo prepare financial statements for each finan¢ial year which give a true and fair view of the stale of affairs of th¢ Charitable company and of the incoming r¢sourc¢s and appli&7tion of r¢sour¢¢s. including the in¢ome and expenditur4 of the charitable company for that period. In preparing those financial slaternents. the trwtees are required to select suitable accounting policies and then apply than Consistently. observe the methods and principles in the Charity SORP; make judgements and estimates that are reasonable and prudent. prq)ar¢ the financial statements on the going concern basis unless it is inappropriate to Presume that the charitsbl¢ company will continue in bustness. The trustees ar¢ resw)nsible for keeping proper ac¢ounting records which disclose with reasonable accuracy at any time the financial position of the charitabl¢ company and to enable them to ensure that the financial statements comply with the Companies Act 2(K)6. They ar¢ also responstble for safe8uarding Ihe assets of the chaTitable company and hence for taking re&sonable steps for the prevention detection of fraud and other irregularities. In so far as the ttvstees are aware.. there is no relevant audit inforniation of which the charitable company's auditors are unawar¢: and the trustees hav¢ lak¢n all stws that they oughi to have taken lo make themselves aware of any relevant audit infoTrnation and lo tabliSh thkt the auditors are aware of that inforniation. AUDoRs The audilot%. Ashmole and Co., will be proposed for re-appointment al the forthcoming Annual General Meeting. This reFrf)rt has been prepared in accordance wilh the special provisions of Part 15 of Ihe Companies Act 2(X>6 r¢lating to small Companies. Approved by order of the board of twsl¢¢s on l October 2024 and signed on its behalf by: A K R Collinson - Ttvstee Page 10
Report of the Independent Audltors to the Trustees of Theatr Brychelniog CYF Opinion We have audited the financia] statemenis of Thratr Brycheinio8 CYF (the 'charitable company) for the year end¢d 31 March 2024 which comprise the Statement of Financial Aclivili¢s, the Balance Shee¢ the Cash Flow Statement and notes lo th¢ finan¢ial ststemenls, including a summary of Si1fIcant a¢counting policies. The financial reporting framework that has been applied their prq)aration is applicable law and United Ktngdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial stalement5'. give a true and fair view of the state of the chajitable company's atTairs &s at 31 March 2024 and of its incoming resources and application of rcsouTces, including its income and expenditur¢. for the yedr then ended- have been properly prepared in aOrdanCe with United Kingdom Generally A¢c¢pted Accounting Pradic¢' and have been prepared in accordance with the requirements of the Companies Act 2006. Basfis for opthlon We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs (UK)) And applicable law. Our responsibilities under those standards are fvrther described in the Auditors, responsibilities for the audit of the financial ststements section of our report. We are independent of the charitsble company in accordance with the ethical requirements that ar¢ r¢l¢vant to our audit of the financial statements in th¢ UK including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilitie8 in accordance with these requirem¢nls. We believe that th¢ audit evidence we have obtained is suffi¢t¢nt and appropriate to provide a basis for our opinion. Material uD¢ertainty relatlng to going coneern We draw your attention to note 20 in the financial slatements, which indicate5 that the company, outgoing Tesouw¢s exceed its incoming resources by £150,299 during the year ended 31st March 2024 and, as at that dale. its liabilities exceed its assets by £84,875. The charity continues to be heavily reliant on the grant aid provided by ils core funders.Th¢se ev¢nls or conditions indicate that a material uncertainty exist5 that may cast significant doubt OD th¢ company's ability to ontinue as a going concern. Our opinion is not modified in respect of this matter. In auditing the financial statements, we have concluded that the twslees, use of the going con¢ern basis of aoUnting in the preparation of the financial statements is appropriate. Our responsibiliti¢s and the responsibilities of the trustees with respwt to the goin8 con¢ern are described in the relevant sections of this report. Other informatlon The tnistees are rebpollsible for the other inforniation. The other inforn]ation comprises the infornlalion included in the Annual Report, other than the finan¢ial statements and our Reikn of tbe Independent Auditors thereon. Our opinion on the financial statements does not cover the other infornialion and. except to the extent otherwise explicitly stated in our rq)ort. we do not express any form of assurance Conclusion thereon. In conThection with our audtt of the financial statements, our responsibility is to read Ibe other infornialion and. in doing so, consider wheth¢r the other infonnation is materially inwnsist¢nt with the financial slatemcnts or our knowledge obtained in the audit or othenvise appears to be materially misstated. If we identify such material inconsisten¢ies or apparent mal¢rial misstatements, we are required to derern)ine whether this gives rise lo a material missiatemenL in the financial statements themselves. If. based on the work w¢ have perforn)ed, we conclude that there is a materÉal misslatemeni of this other information, we are required lo rq)ort that fact. We have nothing to report in this regard. Pagell
Report ofthe lDdependent Auditors to the Trustees of Tbeatr Bryehelnlog CYF Matters on whlch we 4re requlred to report by exception We have nothing lo report in respect of the following matters where the Charities (A¢counts and Reports) Regulalions 2008 requiTes us to report to you if, in our opinion.. the inforn)ation giv¢n ITh th¢ Report of the Trnslee8 is inwnsistent in any material respect with the financial statements. or the charitable company has not kept adequate accounting records. or the financial staiements are not in agreemeDt with the accounting records and returns. or we have not r¢c¢ived all the infonnation and explanations we require for our audit. Responsibilities of trustees As explained more fully in the Statement of Trnstees, Responsibilities, th¢ trustees (who are also the directors of the charitable company for the pUrysl of company law) ar¢ responsible for the PTeparation of the financial statements and for being satisfied that they give a true and fair view. and for such internal control as Ihe trustees deterniine is necessary to enable the preparation of financial statements that are free from mat¢rial misstatement. wbether due lo fraud or error. In preparing the financial statements, the tNslees are responsible for assessing the charitable company's ability lo continue &8 a going concern, dis¢losin& as applicable, matters related to going ¢on¢mi and using the going concern basis of accouniing unless the tswslees either intend to liquidate the charitable cornpatiy or to cease operaiions, or have no realistic alternative bul to do so. Page 12
Report of the Independent Auditorn to the Trnstees of Tbeatr Brycheiniog CYF Our responslbllities for the audlt of the finaDeisl %tstements We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordanc¢ with the Act and Televanl regulations made or having effect thereunder. Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misstatancnl, whether due to fraud or error. and to issue a Report of the Indcpendenl Auditor5 that includes our opinion. Reasonable assurdncc is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement whcn it cxists. MIlatementS call aTise from fraud or error and arc considered material if, individually or in the aggrc¥atc, they could reasonably be expected to influence the economic dccisions of users taken on the basis of these financial statements. The ¢xt¢nt to which our procedures are capable of detecting irregularities, including fraud is detsiled below.. In identifying and assessing risks of material misstatement in respect of irregulariti¢s, Including fraud and non-complian¢¢ with laws and regulations, we considered the following= nawre of the charity and the sector in which it operates. th¢ legal and regulatory framework in which ihe charity operates, and in particular those laws and regulations Ihat directly affect the financial statements or have a fundamental effwt on operations e8 Charities Act 2011, and safety legislation. - results of ¢nquiries of management and those charged with governance any matters identified relating to the charity's poli¢i¢s and procedures for identifying, evaluating and eomplying with laws and regulations, and whether there were any known instances of non compliance. detecting and responding lo the risks of fraud and whether there is any knowledge of actual, suspected or fr8ud. the intemal Controls established lo mitigale risks of fraud or non compliance with laws and regulations. health alleged As a result of pcrfomiing the above, we (iid not identify any key audit mattcrs related lo potential Tisk of fraud or non compliancc with laws and regulaiions. In addition to thc abovc, our procedures included: reviewing the financial statcmenl disclosures and tcsting to supporting documentation to asscss Compliance with rclcvant laws and regulations enquires of management and those charged wilh governance concerning aclual and potential litigation and claims perforniing analytical procedurcs to identify any unusual or unexpected relationships that may indicate risks of material misslalement due to fraud - review of minute5 of committee meetings - writt¢n representations A fvrther description of our responsibilities for ihe audit of Ihe financial statements is located on th¢ Financial Reporting Council's website at www.fr¢.org.uk/audilorsresponsibilities. This description fornis part of our R¢port of the Independent Auditors. Page 13
Report of the Independent Auditors to the Trustees of TheAtr Brycheiniog CYF Use of our report This rel is made solcly to the Charitable company's truslees. as a body, in accordance with Part 4 of the ChaTities (Accounts and Reports) Regulations 21M18. Ollr audit WOTk has bccn undertaken so that wc might state to the charitable company's trustees those matters wc are requtred to state to thcm in an auditOTS' report and for no othcr purpose. To thc fullesl extent pennitted by law, wc do not accept or assume responsibility lo anyone other than thc charitable company and Ihe charitable company's trustees as a body, for our audit work, for this reporL or for the opinions we have fornied. Ashmole and Co. Charted Certified Accountants and Statulory Auditors Eligible to act as an auditor in terms of ScclTon 1212 of the Companits Act 2(K)6 Williamston House 7 Goal Street Haverfordw¢st Pembrokeshire SA61 IPX Date., Iq iJ.l(r Page 14
Theatr Brycheiniog CYF Sialement of FittxnelAI Activities (Ineorpor4ting an Ineome and Expenditure Account) for the Year Ended 31 Moreh 2024 31.3.24 Total funds 31.3.23 Totsl Unr&strided fund RestTiCted nd Notes INCOME AND ENDOWMENTS FROM Donations and grants 229,499 229,499 254,369 Charltsble actlvlties Operation of theatre and arts centre 180,767 302.750 483.517 385,W2 Oiher trading activities 604.761 6N,761 352,498 Total 1,015.027 302,750 1.317,777 991,869 EXPENDITURE ON Rxislng funds Other trading artivilies 150.741 150,74] 88,791 150,741 150.741 88,791 Charltsbk 4etlvltles Operation of theatre and art5 centre 1,089,463 227,872 1,317,335 1.055,901 Total 1.240.204 227,872 1,468,076 1,144,692 LYET INCOMEI(EXPENDITURE) (225,177) 74.878 (150.299) (152,823) RECONCILIATION OF FUNDS Total funds brought forward (77,585) 143,(N)9 65.424 218,247 TOTAL FUNDS CARRIED FORWARD (302.762) 217,887 (84,875) 65,424 The notes fom part of these financial statements Page 15
Theatr BrycheiDiog CYF {Regi5t¢red number: 2446965) B*lan¢e Sheet 31 Mareh 2024 31.3.24 Total fvnds 31.3.23 Total funds Unrestricted fund R&stri¢l¢d fund Notes FIXED ASSETS Tangible assets 12 41,661 215.683 257J44 209,144 CURRENT ASSETS Stocks DebtOTS Cash at bank and in hand 13 14 12.675 23.820 68,729 12,675 38,794 69,958 12,891 15,402 55,082 14.974 1,229 105,224 16.203 121,427 83,375 CREDITORS Amounts falling du¢ within one year 15 (417,899) (13.999) (431.898) (185.909) NET CURRENT ASSETSI{LIABILITIES) (312,675) 2,204 (310,471) (102,534) TOTAL ASSETS LESS CURRENT LIABILITIES (271,014) 217.887 (53,127) 106,610 CREDITORS Amounts falling due after more than one year 16 (31.748) (31,748) (41.186} NET ASSETS (302,762) 217.887 (84.875) 65.424 FUNDS Unr&stricied funds Rebtrict¢d funds 17 (302.762) 217,887 (77,585) 143.009 TOTAL FUNDS (84,875) 65,424 The charitable company is entitled lo exemption from audit under Section 477 of the Companies Act 2[)6 for the yw ended .1 l March 2024. The members have not depoqited notice. pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements. The tNslees acknowlcdge their reqponsibilities for (a) ensuring that the Charitable company keeps accounting records that comply with Sections 386 and 387 of the c.ompanies Act 2006 and preparing financial statetnenls which give a tnte and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or defictt for each financial yvdr in accordance with (he r¢ouirements of Se¢lions 394 and 395 and which oihenvise comply with the requirements of the Companies Act 2006 relating lo financial statements, so far as applible to the charitable company. Ib) These financia] ststements have been audTrlcd under the requirements of Section 145 of the Charilics Act 2011. The notrs forn) p&rt of these financial statements Page 16 continued...
Theatr Brychelnlog CYF (Registered number: 2446965) B¥lance Sheet- contlnued 31 March 2024 These financial statements have been PTq)ared in accordance with the provisions applicable to charitsble companies subject to the small companies regime. The financial statcmcnts were approved by the BoaTd of Trustecs and authorised for issuc on l October 2024 and were signed on its behalf by.. A K R Collinson- TTuslee The notes fonn part of these financial statements Page 17
Theatr Brychefinlog CYF Cash Flow Ststement for the Year Ended 31 Mareh 2024 31.3.24 31.3,23 Note5 Cash flows from operating actItIeS Cash generated from operations 217.520 40,351 Nel cash provided by operating activities 217520 40.351 Casb flows from Investlng gctlvlties Purchase of tangible fixed assets (202,6H ) (201.157) Net cash used in investing aclivilies (202.644) (201,157) Change In eash and cash equlvAlents In the reporting period Cash and cash equivalents at the beEillning of the reporting pcriod 14.876 (160.806) 55.082 215,888 Cash and cash equivalents at tbe end of the reporting period 69,958 55,082 The notes fom) pth of these financial stalement5 Pa8e 18
Theatr Brycheiniog CYF Notes lo tbe Chsh Flow Statement for the Year Ended 31 March 2024 RECONCILIATION OF NET EXPENDITURE 'fo NET CASH FLOW FROM OPERATING AcfiviTIES 31.3.24 31.3.23 Iyet expenditure for the reporting period (as per the Stxtement of Financial Aetivitie8) Adjustments for: Depreciation charges Decr¢assl(incTease) in stocks (Increaselldecrease in debtors Increase in creditors (150299) (152.823) 154.444 216 (23,392) 236,551 106,380 (4,664) 28,648 62,810 Net ¢ash provlded by operations 217,520 40,351 ANALYSIS OF CHANGES IN NET FUNDS At 1.4.23 Cash flow At 31.3.24 Net eash Cash at bank and in hand 55,082 14,876 69,958 55,082 14.876 69.958 Tol41 55,082 14,876 69,958 The notes forni part of these financial 5talemenls Pag¢ 19
Theatr Brycheiniog CYF otes to the Fitianeial Stg4tements for the Year Ended 31 Mtdrcb 2024 ACCOUNTILYG POLICIES Basls of preparlng the fjnancial statements The finan¢ial statements of the charitsble companyy which is a public benefit entity under FRS 102, have been pr¢parcd in accordance with the Charities SORP IFRS 102) 'A¢wunling and R¢porting by Charities: S¢aian¢nt of Recommended Practice applicable to chaTities preparing their account5 in accordance with the Finan¢ial Reporting Standard app]ible in the UK and Republic of Ireland {FRS 102) (effective l January 2019),, Financtal Reporting Siandard 102 The Financial Reportin8 Standard applicable in the UK and Republic of Ireland. and the Companies Act 2006. The financial sratemenls hav¢ been prepared under the historical cost convention. In¢ome All income is recognised in the Statement of Financial Activiti ontt Ihe Charity has entitlement lo the fvnds, it is probable that the income will be received and the amount call be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constrnclive obligation committing ihe charity to that expenditure. il 15 probable that a transfer of e¢onomi¢ benefits will be reqUId in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all ¢05t related to the category. Where costs cannot be dire¢tly attributed to particular h¢adin8S they have been allocated to activities on a basis consistent with the use of resources. Tanglble fixed assets DepTtcialion is provida at the following annual rates in order to write off each asset over its ¢5timai¢d useful life. Stocks Siocks are valued at the lower of c05t and net realisable value, after making due allowance for obsolete and slow moving ifrms. Taxatlon The Chlty 15 exempt from COoration tax on its chariiable activities. Fund aeeountlng Unrestricied fvnds ¢an be used in accordaDce with the charitable objectives at the discretion of (he trustees. Restricted funds can only be used for particular restricted pUOseS within the objects of the charity. Reslriclions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Hire purch9se and leAsing eommltmeDts Rentals paid under operating leases are chargeil to the Siat¢m¢nl of Financial Activities on a sts7ight line basis over (he period of the lease. Pension ¢osls and other post-retlrement benefits The charitable company operates a defined contribution pension seheme. Contributions payable lo the tharitable company's nSIOn sch¢m¢ are Charged to the Statement of Financial Acuvili&q in the period to which they Telate. Page 20 continued...
Theatr Brvcheiniog CYF Notes to the Financial Statements - coD¢lnued for the Year Ended 31 March 2024 DONATIOIYS AND GIL4NTS 31.3.24 31.3.23 Donations & Sponsorship Powys CC- core nd Powys CC- warni spaces ACW- core funding ACW-CRF3 13.455 11.792 21,719 1,467 205,891 13,500 206.600 229,499 254,369 OTHER TRADING ACTIVITIES 31.3.24 31.3.23 Hire of facilities Bar, Bistro & event ¢atering Other cate)Ing income Other income Employment allowance 128,905 370.049 36,546 64,261 5,000 101,721 172,390 18230 55,157 5.000 604,761 352,498 INCOME FROM CHARITABLE ACTIVITIES 31.3.24 31.3.23 Acliviry BOA oITice income Operdlion of theatre and arts centre m¢handIslg & programmes Operation of theatre and arts centre Grants Operation of Iheatre and arts centre 180,439 328 302.750 207.046 684 177.272 483,517 385.(N)2 Grants r¢¢eived, included in the abov¢, are as follows: 31.3.24 31.3.23 Arnold Clark Br¢con Town Council 1.000 1S.(X)O 55.149 90,123 2.200 6.¢M)O 2.800 5,(K)O I s.(K)o WCVA Arts Council of Wales Royal National Theatre Atsain Anthem Music fund Brecon Beacons National Park Sustainable Development fvnd Colwinston Trust - Beacons Perforniance Past Present 278.550 2.000 7,200 302.750 177272 Pag¢21 continued...
Theatr Brychelnlog CYF Notes to the FinaD¢i*I Stalemtnts- contlnued for the Year Ended 31 March 2024 OTHER TRADING ACTIVITIES 31.3.24 31.3.23 Purchases 150,741 88,791 CHARITABLE ACTIVITIES COSTS Support CQsts (see note 7) D]rt Costs Totals Operation of theatr¢ and arts centre 1,292,499 24,836 ,317,335 SUPPORT COSTS Governance costs Finance Totals Operation of theatre and arts centre 15,836 9,0(N) 24.836 NET INCOMEI(EXPENDITURE) Net incomeliexpenditure} is slated after charging/(crediting): 31.3.24 31.3.23 Auditors, remuneration Depreciation - owned assets HiTe of plant and machinery 9.000 154,444 12,136 9,500 106,380 16,649 TRUSTEES, REMUNERATION AND BENEFITS There were no Irustees. remunerdtion 01 other benefits for the y¢ar ended 31 March 2024 nor for thc year ended 31 March 2023. Trustees. expenses There were no trustees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 Mah 2023. Page 22 continucd...
Theatr Bryehelnlog CYF iYot¢$ ts) the FlnAnelal Siaternents- eontlnued for the Year Ended 31 March 2024 STAFF COSTS The average monthly head count was 43 staff {2023: 36) and lh¢ average number of full-time equivalent staff (including Casual and part time slaffj employed during the year was 25. The average monthly number of employees during Ihe y¢ar was &s follows: 31.3.24 34 31.3,23 26 Ttzding Box office, sales and marketing Concerts and stage perforniance 43 36 No emplo>'ees received emolumeTJts in excess of£60.(X)O. li. COMPAIL4TIVES FOR THE STATEMENT OF FINANCIAL AcfivITIES Unrestricied nd Restricied fund Toial nds INCOME AND ENDOWMENTS FROM Donations and grants 254J69 254,369 Charitable activities Opffation of iheatre and arts ¢entre 207,730 177272 385,002 (Xher trading activities 352,498 352,498 Total 814,597 177,272 991,869 EXPEIYDITURE ON Raising funds Other trading activities 88,791 88,791 88,791 88.791 Charltable aetivities Operation of theatre and arts centre 970,546 85J55 1,055,901 Total 1,059,337 85J55 1.144,692 NET INCOMEI{EXPENDITURE) (244,740) 91.917 1152,823) RECONCILIATION OF FUNDS Toial funds brought fonvard 167,155 51,092 218247 TOTAL FUNDS CARRIED FORWARD (77,585) 143.009 65.424 Page 23 continued...
Thealr Brytheinlog CYF Notes to the Flnanclal StatemeDts - continued for the Year Ended 31 Marth 2024 12. TANGIBLE FIXED ASSETS Fixtures Leasehold improvements General Equipment Technical equipment fittings Totals COST At l April 2023 Addition5 132.478 48,717 119,035 7.676 307.758 679 161,372 145,572 720,643 202,644 At 31 March 2024 181,195 126,711 308.437 306.944 923,287 DEPRECIATION At l April 2023 Charge for year 43,718 60.398 93,235 14,611 219,620 39,846 154,926 39.589 511,499 154,444 At 31 March 2024 104,116 107,846 259,466 194515 665.943 NET BOOK VALUE At 31 mh 2024 77.079 18,865 48,971 112,429 257.344 At 31 March 2023 88.760 25.800 88.138 6.446 209,144 13. STOCKS 31.3.24 31.3.23 Stocks 12,675 12,891 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Trade debtor5 Other debtors Prepayment5 and accrued income 17,150 14.974 6.670 3.862 .260 10.280 38,794 15,402 Page 24 conlinucd...
Theatr Brycheiniog CYF Notes ¢0 the Fin*D¢i&l StatemeDts- ¢ontinued for the Year Ended 31 M4reh 2024 15. CREDITORS: AMOUNTS FALLING DUE WITHIIY ONE YEAR 31.3.24 31.3.23 Trdde editorS Social security and other taxes 230,408 12,538 7,950 44,882 59,691 76.429 71.930 VAT 9.976 20,052 24,651 59,3(K) Other creditors Advanced ticket sales Accruals and deferred income 431,898 185,909 16. CREDrroRS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.3.24 31.3.23 Other ¢re41itors 31.748 41,186 17. MOVEMENT IN FUIYDS Net movement in ndS At 31.3.24 Ai 1.4.23 Unrestrieted funds General fund 177.585) (225,177) (302,762) Restricted funds Restricted I43,9 74,878 217,8¥7 TOTAL FUNDS 65.424 (150.299 } (84.875) Net movement in fvnds, included in the above are as follows= Incoming resources Resou¢$ expend¢d Movement in ndS Unrestricted funds General fund 1.015.027 (1,240.204) (225,177) Restrieted fullds Restricte<T 302,750 (227,872) 74,878 TOTAL FUNDS ,317,777 (1,468,076 } (150,299) Pag¢ 25 continued...
Theatr Brycheimlog CYF Notes to the Flnanclal Sts¢emeDts- continued for the Ye4r Ended 31 March 2024 17. MOVEMENT AN FUNDS- continued Comparative5 for movement in funds Net movcmcnt in ndS At 31.3.23 Ai 1.4.22 Unrestricted funds Generdl fuDd 167,155 (244,740) (77J85) Re$trf¢ted fvnd5 Restricted 51.092 91,917 143,(KJ9 TOTAL FUNDS 218,247 (152,823) 65,424 Comparative net movement in funds, included in Ihe above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds Generdl fi]nd 814,597 11.059,337) (244.740) R¢strieted ndS Restricted 177,272 (85,355) 91.917 TOTAL FUNDS 991,869 (1,144,692) (152,823) A current year 12 months and prior year 12 months combined posilion is as follows: Net mov¢m¢nt in funds At 31.3.24 At 1.4.22 Unreslricted fund5 General fund 167,155 (469,917) (302.762) Restricted funds RtrIcted 51,092 166,795 217,887 TOTAL FUNDS 218,247 (303,122) (84,875) Page 26 ontinued...
Theatr Bryeheiniog CYF Notes to the Financial Statements - continued ror ihe Year Ended 31 March 2024 17. MOVEMENT IN FUNDS- contlnued A current year 12 Tnonths and prior year 12 months combined net rnoverncnt in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General nd 1,829,624 (2,299,541) (469,917) Restricted funds Restricted 480,022 (3 l3,227} 166,795 TOTAL FUNDS 2,309,646 (2,612,768) (303,122) 18. RELATED PARTY DISCLOSURES There w¢r¢ no related paty transactions for the year ended 31 March 2024. 19. USE OF FACILITIES Theatr Brycheinion Cyf operates from Theatr Brycheiniog which is owned by Powys County Council. Rent of £100 per annum is charged for the use of th¢ facility. The true value of the provision of this facility is not reflected in these financial statements, as the amount is not quantifiable. 20. GOING CONCERN During the period the charity's outgoing resources exceeded its incoming resources and its reserves were in deficit at th¢ balance sheet date, The organisation continues to be heavily reliant on the grant aid provided by its core funders. The fll)ancial statements have been prepared under the going concern b&sis which assumes the ongoing support of its core funders to enable it to continue as a going concern for the foreseeable future. The financial statements do not include any adjustments that would be required were the charity not to be considered as a going concern. Page 27
Theatr Brycheiniog CYF Detailed Statement of Financial Aetivities for the Year Ended 31 March 2024 31.3.24 31.3.23 INCOME AND ENDOWMENTS Donations and grants Donations & Sponsorship Powys CC - core nd Powys CC - wami spaces ACW - core funding ACW-CRf3 13,455 9,444 11,792 21,719 1,467 205,891 13,500 206,600 229,499 254,369 Other trading activities Hire of facilities Bar. Bistro & event catering Other catering income Other income Employmcnt allowance 128,905 370,049 36,546 64,261 5.000 101,721 172,390 18,230 55,157 5,000 604,761 352.498 Charitable activities Box offlce income Merchandising & programmes Grdnts 180,439 328 302,750 207,046 684 177,272 483,517 385,002 Tolal incoming resources 1,317,777 991,869 EXPENDITURE Other trading activities Bar Bistro Catering & Vending 150,741 88,791 Charitable aetiviti¢5 Wagcs Pcnsions Hire of equipment Water rdt¢s tnsurance Lighi and heat Telephone Events and projecl cosls Recruitment costs Carried forward 652,378 14.616 12,136 4,972 5.976 119.105 2,482 167,871 10,742 990,278 518,288 12,489 16,649 7,578 5,082 38,871 2.426 143,517 5,928 750,828 This page does not forni part of the statutory fmancial statements Page 28
Theatr Brycheiniog CYF Detailed Statement of Financial Activities for the Year Ended 31 March 2024 31.3.24 31.3.23 Charitable aetivities Brought forward Postage & Stationery Sale5 commission Advertising & printing General markeling costs Trdvelling Rent Equipm¢nt maintenance Repairs to property Subs affiliations PRS licences Refuse, computer & sundry Legal and professional fees Training Cleaning Irrecoverable VAT Depreciation of tangible fix¢d assets 990,278 10,525 12,505 13,891 990 564 loo 3,495 15,850 6,940 29,813 32,881 1,490 12,326 6,407 154,444 750,828 15,988 10,329 36,226 1,137 2,612 loo 4,131 26,690 10,182 21,930 29,055 2,312 10,643 7,828 106,380 1,292,499 1,036,371 Support costs Finance Bank charges Credit card charge5 1,476 14,360 1,099 8,931 15,836 10,030 Governance costs Auditors, remuneration 9,000 9,500 Total resources expended 1,468,076 1,144,692 Net expenditure (150,299) (152,823) This page does not forni part of the statutory financial statements Page 29