| Page | |||
|---|---|---|---|
| Report ofthe Trustees | I | to | 6 |
| Report ofthe Independent Auditors |
7 | to | 8 |
| Statement ofFinancial Activities | |||
| Balance Sheet | 10 | to | 11 |
| Cash Flow Statement | 12 | ||
| Notes to the Cash Flow Statement | 13 | ||
| Notes to the Financial Statements | 14 | to | 24 |
| Detailed Statement ofFinancial Activities | 25 | to | 27 |
| for the | Year End | ed 31 March 2 | 021 | ||||
|---|---|---|---|---|---|---|---|
| 31.3.21 | 31.3.20 | ||||||
| Unrestricted | Restricted | Total | Total | ||||
| fund | fund | funds | funds | ||||
| Notes | J. | ||||||
| INCOME AND ENDOWMENTS | FROM | ||||||
| Donations and legacies |
170 | 170 | 1,400 | ||||
| Charitable activities |
|||||||
| Theatre | 668,116 | 668,116 | 968,297 | ||||
| Touring Productions | 17,490 | 17,490 | 546,475 | ||||
| Commercial trading activities |
19 | 23,722 | 23,722 | 15,563 | |||
| Other trading activities | 139,822 | ||||||
| Investment income |
61 | 61 | 1,983 | ||||
| Other income | 228,124 | 228,124 | |||||
| Total | 937,683 | 937,683 | 1,673,540 | ||||
| EXPENDITURE ON | |||||||
| Raising funds | 6 | 4,500 | 4,500 | 60,239 | |||
| Commercial trading activities |
19 | 12,786 | 12,786 | 13,350 | |||
| Charitable activities |
|||||||
| Theatre | 621,825 | 132,764 | 754,589 | 1,237,675 | |||
| Touring Productions | 104,891 | 104,891 | 471,344 | ||||
| Total | 744,002 | 132,764 | 876,766 | 1,782,609 | |||
| NET INCOME/(EXPENDITURE) | 193,681 | (132,764) | 60,917 | (109,069) | |||
| RECONCILIATION | OF FUNDS | ||||||
| Total funds brought | forward | 312,409 | 4,066,236 | 4,378,645 | 4,487,714 | ||
| TOTAL FUNDS CARRIED FORWARD | 506,090 | 3,933,472 | 4,439,562 | 4,378,645 |
| 31 Ma | rch 2021 | ||||
|---|---|---|---|---|---|
| 31.03.21 | 31.03.20 | 31.03.21 | 31.03.20 | ||
| Group funds | Group funds | Charity funds | Charity funds |
||
| Notes | 8 | ||||
| FIXED ASSETS | |||||
| Tangible assets | 13 | 4,096,404 | 4,210,486 | 4,095,164 | 4,208,822 |
| Investments | 14 | 129,914 | 144,810 | ||
| 4,096,404 | 4,210,486 | 4,225,078 | 4,353,632 | ||
| CURRENT ASSETS | |||||
| Stocks | 15 | 500 | 5,000 | 500 | 5,000 |
| Debtors | 16 | 166,181 | 148,251 | 158,744 | 140,933 |
| Cash at bank and in hand | 264,786 | 196,853 | 234,544 | 162,903 | |
| 431,467 | 350,104 | 393,788 | 308,836 | ||
| CREDITORS | |||||
| Amounts falling due within one year |
17 | (88,309) | (181,945) | (86,820) | (180,403) |
| NET CURRENT ASSETS | 343,158 | 168,159 | 306,968 | 128,433 | |
| TOTAL ASSETS LESSCURRENT | |||||
| LIABILITIES | 4,439,562 | 4,378,645 | 4,532,046 | 4,482,065 | |
| NET ASSETS | 4,439,562 | 4,378,645 | 4,532,046 | 4,482,065 | |
| FUNDS | 18 | ||||
| Unrestricted funds |
506,090 | 312,409 | 598,574 | 415,829 | |
| Restricted funds |
3,933,472 | 4,066,236 | 3,933,472 | 4,066,236 | |
| TOTAL FUNDS | 4,439,562 | 4,378,645 | 4,532,046 | 4,482,065 |
| for the Year Ended 3 | 1 March 2021 | |||
|---|---|---|---|---|
| 31.3.21 | 31.3.20 | |||
| Notes | ||||
| Cash flows from operating | activities | |||
| Cash generated from operations |
I | 82,584 | 63 792 | |
| Net cash provided by/(used |
in) operating | activities | 82,584 | 63,792 |
| Cash flows from investing | activities | |||
| Purchase oftangible fixed assets Loan advanced to subsidiary |
(25,844) | (2,281) ~2,049) |
||
| Net cash used in investing | activities | ~25,844) | ~4,330) | |
| Change in cash and cash |
equivalents | in | ||
| the reporting period |
56,740 | 59,462 | ||
| Cash and cash equivalents | at the | |||
| beginning ofthe reporting |
period | 162,903 | 103,441 | |
| Cash and cash equivalents | at the end | of | ||
| the reporting period |
234,544 | 162,903 |
| RECONCILIATIO ACTIVITIES |
N OF |
NET EXPENDIT | URE TO NET CASH FLO | W FROM OPERATIN | G |
|---|---|---|---|---|---|
| 31.3.21 | 31.3.20 | ||||
| Net income/(expenditure) | for the reporting | period (as per the | |||
| Statement ofFinancial Activities) |
49,981 | (111,282) | |||
| Adjustments for: |
|||||
| Depreciation charges |
139,497 | 155,727 | |||
| Decrease in stocks | 4,500 | 674 | |||
| Increase in debtors |
(17,811) | (24,414) | |||
| (Decrease)/increase | in creditors | ~93,583 | 43,087 | ||
| Net cash provided | by/(used | in) operations | 82,584 | (63,792) |
| ANALYSIS OF CHANGES IN NET FUND | S | ||
|---|---|---|---|
| At 1sk20 |
Cash flow | At 31.3.21 | |
| g | 8 | ||
| Net cash | |||
| Cash at bank and in hand | 162,903 | 71,641 | 234,544 |
| 162,903 | 71,641 | 234,544 | |
| Total | 162,903 | 71,641 | 234,544 |
| 31.3.21 | 31.3.20 | |||
|---|---|---|---|---|
| Donations | 1,321 | |||
| Subscriptions | 104 | 78 | ||
| Tourist Information | Centre - contribution | |||
| 170 | 1,399 | |||
| 3. | OTHER TRADING ACTIVITIES | |||
| 31.3.21 | 31.3.20 | |||
| Bar sales | 139,822 | |||
| 4. | INVESTMENT INCOME | |||
| 31.3.21 | 31.3.20 | |||
| Caffi income | 61 | 1,983 |
| INCOME F | ROM C | HA | RITA | BLE ACTIVITIES | |||
|---|---|---|---|---|---|---|---|
| 31.3.21 | 31.3.20 | ||||||
| Activity | |||||||
| Ticket sales - | live events | Theatre | 14,146 | 54,331 | |||
| Cardigan Castle events |
Theatre | 7,607 | 99,281 | ||||
| Cinema | Theatre | 1,249 | 428,758 | ||||
| Theatre hire | Theatre | 1,590 | 32,755 | ||||
| Other income | Theatre | 173 | 15,284 | ||||
| Cyngor Sir Ceredigion | Theatre | 18,073 | |||||
| Arts Council | ofWales- | ||||||
| consolidated | revenue | grant | Theatre | 271,427 | 267,880 | ||
| Cardigan Town Council |
Theatre | 2,500 | 2,500 | ||||
| Arts Council | ofWales- | ||||||
| CRF - revenue | Theatre | 205,200 | |||||
| Arts Council | ofWales- | Theatre | 49,762 | ||||
| CRF - capital | |||||||
| Theatre participation | Theatre | 1,115 | 6,136 | ||||
| Music Royalty income | Theatre | 7,434 | 9,777 | ||||
| CD Recoup Income | Theatre | 19,992 | |||||
| Production performance |
fees | Touring Productions | 17,490 | 258,449 | |||
| CD Sales | Touring Productions | 9,013 | 42,052 | ||||
| Other Voices | grant | Touring Productions | 96,900 | 250,000 | |||
| Other Voices | income | Touring Productions | 9,504 | ||||
| 685,606 | 1,514,772 | ||||||
| RAISING FUNDS | |||||||
| Other trading activities |
|||||||
| 31.3.21 | 31.3.20 | ||||||
| Purchases | 4,500 | 60,239 | |||||
| CHARITABLE ACTIVITIES COSTS | |||||||
| Support | |||||||
| Direct | costs (see | ||||||
| Costs | note 8) | Totals | |||||
| Theatre | 408,296 | 346,293 | 754,589 | ||||
| Touring Productions |
104,891 | 104,891 | |||||
| 513,187 | 346,293 | 859,480 |
| SUPPORT COSTS | ||||
|---|---|---|---|---|
| Governance | ||||
| Management | Finance | costs | Totals | |
| Theatre | 338,428 | 2,235 | 5,630 | 346,293 |
| 31.3.21 | 31.3.20 | ||
|---|---|---|---|
| Auditors' remuneration |
3,000 | 3,700 | |
| Auditors' remuneration |
for non audit work | 1,120 | 1,200 |
| Depreciation - owned |
assets | 139,502 | 155,729 |
| Other operating leases |
179 | 521 |
| STAFF COSTS | |||||
|---|---|---|---|---|---|
| 31.3.21 | 31.3.20 | ||||
| Wages and salaries | 360,139 | 476,017 | |||
| Social security costs | 29,558 | 31,591 | |||
| Other pension costs | 23,087 | 14,551 | |||
| Redundancy costs |
32,192 | ||||
| 444,976 | 522,159 | ||||
| The average monthly | number ofemployees | during | the year was as follows: | ||
| 31.3.21 | 31.3.20 | ||||
| Theatre Management | 9 | 15 | |||
| Cleaning | 2 | 3 | |||
| Technicians | I | 3 | |||
| 12 | 21 |
| Notes to the Financial S for the Year Ended |
Notes to the Financial S for the Year Ended |
Notes to the Financial S for the Year Ended |
tatements - continued 31March 2021 |
tatements - continued 31March 2021 |
tatements - continued 31March 2021 |
|
|---|---|---|---|---|---|---|
| 12. | COMPARATIVES FOR THE CONSOLIDATED | STATEMENT OF FINANCIAL ACTIVITIES | ||||
| Unrestricted | Restricted | Total | ||||
| fund | fund | funds | ||||
| INCOME AND ENDOWMENTS | FROM | |||||
| Donations and legacies |
1,400 | 1,400 | ||||
| Charitable activities |
||||||
| Theatre | 968,297 | 968,297 | ||||
| Touring Productions | 546,475 | 546,475 | ||||
| Commercial trading activities |
15,563 | 15,563 | ||||
| Other trading activities |
139,822 | 139,822 | ||||
| Investment income |
1,983 | 1,983 | ||||
| Total | 1,673,540 | 1,673,540 | ||||
| EXPENDITURE ON | ||||||
| Raising funds | 60,239 | 60,239 | ||||
| Commercial trading activities |
13,350 | 13,350 | ||||
| Charitable activities |
||||||
| Theatre | 1,094,716 | 142,960 | 1,237,675 | |||
| Touring Productions | 471,344 | 471,344 | ||||
| Total | 1,639,649 | 142,960 | 1,782,609 | |||
| NET INCOME/(EXPENDITURE) | 33,891 | (142,960 | (109,069) | |||
| RECONCILIATION | OF FUNDS | |||||
| Total funds brought | forward | 278,518 | 4,209,196 | 4,487,714 | ||
| TOTAL FUNDS CARRIED FORWARD | 312,409 | 4,066,236 | 4,378,645 |
| 13. | GROUP TANGIBLE FIXEDASSETS | |||
|---|---|---|---|---|
| Freehold | Long | Plant and | ||
| property | leasehold | machinery | ||
| COST | ||||
| At 1 April 2020 |
651,048 | 5,661,118 | 1,022,514 | |
| Additions | 25,844 | |||
| At 31 March 2021 | 651,048 | 5,661,118 | 1,048,358 | |
| DEPRECIATION | ||||
| At 1 April 2020 |
221,356 | 1,889,326 | 1,013,511 | |
| Charge for year | 13,021 | 114,292 | 12,613 | |
| At 31 March 2021 | 234,377 | 2,003,618 | 1,026,124 | |
| NET BOOK VALUE | ||||
| At 31 March 2021 | 416,671 | 3,657,500 | 22,234 | |
| At 31 March 2020 | 429,692 | 3,771,792 | 9,003 | |
| Fixtures | ||||
| and | Motor | |||
| fittings | vehicles | Totals | ||
| 8 | ||||
| COST | ||||
| At 1 April 2020 |
270,106 | 16,450 | 7,621,236 | |
| Additions | 25,844 | |||
| At 31 March 2021 | 270,106 | 16,450 | 7,647,080 | |
| DEPRECIATION | ||||
| At 1 April 2020 |
270,106 | 16,450 | 3,410,749 | |
| Charge for year | 139,926 | |||
| At 31 March 2021 | 270,106 | 16,450 | 3,550,675 | |
| NET BOOK VALUE | ||||
| At 31 March 2021 | 4,096,405 | |||
| At 31 March 2020 | 4,210,487 | |||
| 14. | FIXEDASSET INVESTMENTS | |||
| 31.3.21 | 31.3.20 | |||
| 8 | ||||
| Shares | 100 | 100 | ||
| Loans | 129,814 | 144,710 | ||
| 129,914 | 144,810 |
| FI | XEDASSET INVESTMENTS - continued | |
|---|---|---|
| Shares in |
||
| group | ||
| undertakings | ||
| MARKET VALUE | ||
| At | I April 2020 and 31 March 2021 | 100 |
| NET BOOK VALUE | ||
| At | 31 March 2021 | 100 |
| At | 31 March 2020 | 100 |
| Loans to | ||
| group | ||
| undertakings | ||
| At | 1 April 2020 | 144,710 |
| New in year | 5,104 | |
| Repayments in year |
(20,000) | |
| At | 31 March 2021 | 129,814 |
| There were no investment | There were no investment | assets outside the UK. | |||||
|---|---|---|---|---|---|---|---|
| 15. | STOCKS | ||||||
| 31.3.21 | 31.3.20 | 31.3.21 | 31.3.20 | ||||
| Group | Group | Charity | Charity f |
||||
| Stocks | 500 | 5,000 | 500 | 5,000 | |||
| 16. | DEBTORS: | AMOUNTS | FALLING DUE WITHIN | ONE YEAR | |||
| 31.3.21 | 31.3.20 | 31.3.21 | 31.3.20 | ||||
| Group g |
Group 6 |
Charity | Charity f |
||||
| Trade debtors | 86,748 | 105,512 | 84,651 | 103,864 | |||
| Prepayments | and accrued | income | 45,909 | 37,069 | 45,909 | 37,069 | |
| VAT | 33,524 | 5,670 | 28,184 | ||||
| 166,181 | 148,251 | 158,744 | 140,933 |
| for the Year Ended 31 | for the Year Ended 31 | March | 2021 | ||||||
|---|---|---|---|---|---|---|---|---|---|
| 17. | CREDITORS: AMOUNTS | FALLING DUE WITHIN | ONE | YEAR | |||||
| 31.3.21 | 31.3.20 | 31.3.21 | 31.3.20 | ||||||
| Group | Group | Charity | Charity | ||||||
| Trade creditors | 27,392 | 101,645 | 27,392 | 101,645 | |||||
| Third party funds | 3,593 | 38,358 | 3,593 | 36,816 | |||||
| Social security | and other taxes | 6,672 | 6,672 | 6,672 | 6,672 | ||||
| VAT | 1,148 | 1,148 | |||||||
| Other creditors | 1,490 | 29 | 29 | ||||||
| Accruals and deferred | income | 49,163 | 34,093 | 49,163 | 34,093 | ||||
| 88,310 | 181,945 | 86,820 | 180,403 | ||||||
| 18. | MOVEMENT | IN FUNDS | |||||||
| Net | |||||||||
| movement | At | ||||||||
| At 1.4.20 | in funds | 31.3.21 | |||||||
| Unrestricted funds |
|||||||||
| General fund |
415,829 | 182,744 | 598,573 | ||||||
| Restricted funds |
|||||||||
| Capital Fund | 4,066,236 | (132,763) | 3,933,473 | ||||||
| TOTAL FUNDS | 4,482,065 | 49,981 | 4,532,046 | ||||||
| Net movement | in funds, included | in the above are as follows: | |||||||
| Incoming | Resources | Movement | |||||||
| resources | expended | in funds | |||||||
| Unrestricted | funds | ||||||||
| General fund |
913,961 | (731,216) | 182,745 | ||||||
| Restricted funds |
|||||||||
| Capital Fund | (132,764) | (132,764) | |||||||
| TOTAL FUNDS | 913,961 | ~863,980) | 49,981 | ||||||
| Comparatives | for movement | in | funds | ||||||
| Net | |||||||||
| movement | At | ||||||||
| At 1.4.19 | in funds | 31.3.20 | |||||||
| Unrestricted | funds | ||||||||
| General fund |
384,151 | 31,678 | 415,829 | ||||||
| Restricted funds |
|||||||||
| Capital Fund | 4,209,196 | (142,960) | 4,066,236 | ||||||
| TOTAL FUNDS | 4,593,347 | ~111282) | 4,482,065 |
| Incoming | Resources | Movement | ||
|---|---|---|---|---|
| resources | expended | in funds | ||
| Unrestricted | funds | |||
| General fund |
1,657,976 | (1,626,299) | 31,678 | |
| Restricted funds |
||||
| Capital Fund | (142,959) | (142,960) | ||
| TOTAL FUNDS | 1,657,976 | ~1,769,258) | ~111,282) |
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.4.19 | in funds | 31.3.21 | |
| Unrestricted funds |
|||
| General fund | 384,151 | 214,422 | 598,573 |
| Restricted funds |
|||
| Capital Fund | 4,209,196 | (275,723) | 3,933,473 |
| TOTAL FUNDS | 4,593,347 | ~61,30 I) | 4,532,046 |
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| Unrestricted funds |
|||
| General fund |
2,571,937 | (2,357,515) | 214,422 |
| Restricted funds |
|||
| Capital Fund | (275,723) | (275,723) | |
| TOTAL FUNDS | 2,571,937 | (2,633,238) | ~61,301) |
| Summary Profit and Loss account |
Summary Profit and Loss account |
||
|---|---|---|---|
| 31.3.21 | 31.3.20 | ||
| Turnover | 3,722 | 15,563 | |
| Covid grant | 20,000 | ||
| Cost ofsales and administrative | expenses | ~12786 | ~13350 |
| Net profit for the period | 2 213 | ||
| Summary ofassets and liabilities |
|||
| Fixed assets | 1,240 | 1,664 | |
| Current assets |
37,679 | 41,268 | |
| Current liabilities |
(1,489) | (1,542) | |
| Long term liabilities | ~129814 | ~144 710 | |
| Total net liabilities | |||
| Share Capital Profit and (loss) account |
100 ~92 484 |
100 ~103420 |
|
| Financed by Theatr Mwldan | @2241 | ~2 |
| 31.3.21 | 31.3.20 | ||||
|---|---|---|---|---|---|
| INCOME AND ENDOWMENTS | |||||
| Donations and legacies |
|||||
| Donations | 66 | 1,321 | |||
| Subscriptions | 104 | 78 | |||
| 170 | 1,399 | ||||
| Other trading activities |
|||||
| Bar sales | 139,822 | ||||
| Investment income |
|||||
| Caffi income | 61 | 1,983 | |||
| Charitable activities |
|||||
| Ticket sales - live events | 14,146 | 54,331 | |||
| Cardigan Castle events | 7,607 | 99,281 | |||
| Cinema | 1,249 | 428,758 | |||
| Theatre hire | 1,590 | 32,755 | |||
| Other income | 173 | 15,284 | |||
| Cyngor Sir Ceredigion | 18,073 | ||||
| Arts Council ofWales - | consolidated | revenue | grant | 271,427 | 267,880 |
| Cardigan Town Council |
2,500 | 2,500 | |||
| Production performance |
fees | 17,490 | 258,449 | ||
| Theatre participation | 1,115 | 6,136 | |||
| CD Sales | 9,013 | 42,052 | |||
| Other Voices grant | 96,900 | 250,000 | |||
| Music Royalty income | 7,434 | 9,777 | |||
| CD Recoup Income | 19,992 | ||||
| Other Voices income | 9,504 | ||||
| Arts Council ofWales Culture Recovery Fund- | |||||
| revenue | 205,200 | ||||
| Arts Council ofWales Culture Recovery Fund- | |||||
| capital | 49,762 | ||||
| 685,606 | 1,514,772 | ||||
| Other income | |||||
| Covid rates grant | 25,000 | ||||
| Covid JRS grant | 203,124 | ||||
| 228,124 | |||||
| Total incoming resources |
913,961 | 1,657,976 |
| 31.3.21 | 31.3.20 | ||||
|---|---|---|---|---|---|
| EXPENDITURE | |||||
| Other trading activities |
|||||
| Bar cost ofsales | 4,500 | 60,239 | |||
| Charitable activities |
|||||
| Wages | 45,627 | 105,466 | |||
| Social security | 5,483 | 5,265 | |||
| Redundancy | 9,889 | ||||
| Rates and water | 931 | 2,677 | |||
| Insurance | 14,904 | 16,336 | |||
| Light and heat | 19,748 | 39,297 | |||
| Telephone | 18,574 | 15,653 | |||
| Postage and stationery | 535 | 1,171 | |||
| Advertising | 4,917 | ||||
| Cardigan Castle event |
costs | 81,129 | |||
| Performers' fees &expenses |
41,420 | ||||
| CD production costs |
20,355 | ||||
| Cinema - film hire | 535 | 197,495 | |||
| Cinema - other costs | 6,395 | ||||
| Repairs and renewals | 68,274 | 41,326 | |||
| Cleaning materials &support | 949 | 8,987 | |||
| Cleaning wages | 44,098 | 42,121 | |||
| Social security | 2,293 | 1,685 | |||
| Licences and Performing | Rights Society | 1,203 | 8,491 | ||
| Programme printing |
and distribution | 3,679 | 5,742 | ||
| Other marketing expenses |
5,545 | 29,389 | |||
| Grants to other organisations | 19,447 | 19,447 | |||
| Motor expenses | 1,450 | 2,848 | |||
| Theatre participation | 4,815 | ||||
| Production Artist fees |
22,509 | 121,276 | |||
| Other Production costs |
806 | 8,289 | |||
| Production travel and accommodation |
(2,418) | 73,284 | |||
| Other Voices expenses | 86,450 | 216,328 | |||
| CD Sales Costs | 3,179 | 33,318 | |||
| Depreciation oftangible | fixed assets | 139,497 | 155,727 | ||
| 513,187 | 1,310,649 | ||||
| Support costs | |||||
| Management | |||||
| Wages | 270,414 | 328,430 | |||
| Social security | 21,782 | 26,326 | |||
| Pensions | 23,087 | 14,551 | |||
| Other operating leases |
179 | 521 | |||
| Staff and volunteers' | expenses | 663 | 3,929 | ||
| Carried forward | 316,125 | 373,757 |
| for the Year Ended 31 Ma | rch 2021 | |||
|---|---|---|---|---|
| 31.3.21 | 31.3.20 | |||
| Management | ||||
| Brought forward | 316,125 | 373,757 | ||
| Redundancy | 22,303 | |||
| 338,428 | 373,757 | |||
| Finance | ||||
| Bank charges | 2,235 | 18,203 | ||
| Governance | costs | |||
| Auditors' remuneration |
3,000 | 3,700 | ||
| Auditors' remuneration |
for non audit work | 1,120 | 1,200 | |
| Directors' indemnity |
insurance | 1,510 | 1,510 | |
| 5,630 | 6,410 | |||
| Total resources | expended | 863,980 | 1,769,258 | |
| Net income/(expenditure) | 49,981 | ~111,282) |