| Page | ||||
|---|---|---|---|---|
| Report ofthe Trustees | 1 | to | 6 | |
| Report ofthe Independent Auditors |
7 | to | 9 | |
| Statement ofFinancial Activities |
10 | |||
| Balance Sheet | 11 | to | 12 | |
| Cash Flow Statement | 13 | |||
| Notes to the Cash Flow Statement | 14 | |||
| Notes to the Financial Statentents | 15 | to | 27 | |
| Detailed Statement ofFinancial |
Activities | 28 | to | 30 |
| for | the Year E | nded 31 March | 2022 | |||||
|---|---|---|---|---|---|---|---|---|
| 31.3.22 | 31.3.21 | |||||||
| Unrestricted | Restricted | Total | Total | |||||
| fund | fund | funds | funds | |||||
| Notes | 6 | |||||||
| INCOME AND ENDOWMENTS | FROM | |||||||
| Donations and legacies |
3,265 | 3,265 | 170 | |||||
| Charitable activities |
||||||||
| Theatre | 764,001 | 764,001 | 668,116 | |||||
| Touring Productions |
129,255 | 129,255 | 17,490 | |||||
| Commercial trading |
activities | 12,195 | 12,195 | 23,722 | ||||
| Other trading activities | 39,464 | 39,464 | ||||||
| Investment income |
1,024 | 1,024 | 61 | |||||
| Other income | 34,283 | 34,283 | 228,124 | |||||
| Total | 983,487 | 983,487 | 937,683 | |||||
| EXPENDITURE ON | ||||||||
| Raising funds | 6 | 22,063 | 22,063 | 4,500 | ||||
| Commercial trading |
activities | 19 | 24,845 | 24,845 | 12,786 | |||
| Charitable activities |
||||||||
| Theatre | 634,294 | 131,116 | 765,410 | 754,589 | ||||
| Touring Productions | 165,381 | 165,381 | 104,891 | |||||
| Total | 846,583 | 131,116 | 977,699 | 876,766 | ||||
| NET INCOME/(EXPENDITURE) | 136,904 | (131,116) | 5,788 | 60,917 | ||||
| RECONCILIATION | OF FUNDS | |||||||
| Total funds brought | forward | 506,090 | 3,933,472 | 4,439,562 | 4,378,645 | |||
| TOTAL FUNDS CARRIED FORWARD | 642,994 | 3,802,356 | 4,445,350 | 4,439,562 |
| 31.03.22 | 31.03.21 | 31.03.22 | 31.03.21 | |||
|---|---|---|---|---|---|---|
| Group funds | Group funds | Charity funds |
Charity funds |
|||
| Notes | g | |||||
| FIXED ASSETS | ||||||
| Tangible assets | 13 | 3,963,155 | 4,096,404 | 3,962,230 | 4,095, 164 | |
| Investments | 14 | 140,839 | 129,914 | |||
| 3,963,155 | 4,096,404 | 4,103,069 | 4,225,078 | |||
| CURRENT ASSETS | ||||||
| Stocks | 15 | 500 | 500 | 500 | 500 | |
| Debtors | 16 | 201,894 | 166,179 | 193,425 | 158,744 | |
| Cash at bank and in hand | 442,687 | 264,786 | 406,151 | 234,544 | ||
| 645,081 | 431,465 | 600,076 | 393,788 | |||
| CREDITORS | ||||||
| Amounts falling due within |
one year | 17 | (162,886) | (88,310) | (152,661) | (86,820) |
| NET CURRENT ASSETS | 482,195 | 343,155 | 447,415 | 306,968 | ||
| TOTAL ASSETSLESSCURRENT | ||||||
| LIABILITIES | 4,445,350 | 4,439,559 | 4,550,484 | 4,532,046 | ||
| NET ASSETS | 4,445,350 | 4,439,559 | 4,550,484 | 4,532,046 | ||
| FUNDS | 18 | |||||
| Unrestricted funds |
642,993 | 506,090 | 748,127 | 598,574 | ||
| Restricted funds | 3,802,357 | 3,933,472 | 3,802,357 | 3,933,472 | ||
| TOTAL FUNDS | 4,445,350 | 4,439,562 | 4,550,484 | 4,532,046 |
| Cash Flow Statemeut | ||||||||
|---|---|---|---|---|---|---|---|---|
| for the | Year Ended 31 March | 2022 | ||||||
| 31.3.22 | 31.3.21 | |||||||
| Notes | ||||||||
| Cash flows from operating | activities | |||||||
| Cash generated from operations |
185,143 | 82,584 | ||||||
| Net cash provided by operating |
activities | 185,143 | 82,584 | |||||
| Cash floivs from investing | activities | |||||||
| Purchase oftangible fixed | assets | (2,610) | (25,844) | |||||
| Loan advanced to subsidiary |
~10,925) | 14,896 | ||||||
| Net cash used in investing | activities | ~13,535) | ~10,948) | |||||
| Change in cash and cash |
equivalents | in | the | |||||
| reporting period |
171,608 | 71,636 | ||||||
| Cash and cash equivalents | at the beginning | |||||||
| ofthe reporting period |
234,544 | 162,903 | ||||||
| Cash and cash equivalents | at the end | of | the | |||||
| reporting period |
406,151 | 234,544 |
| for the Year Ended 31 | for the Year Ended 31 | March 2022 | March 2022 | March 2022 | ||||
|---|---|---|---|---|---|---|---|---|
| RECONCILIATION | OF NET INCOME TO NET CASH | FLOW FROM OPERATING ACTIVITIES | ||||||
| 31.3.22 | 31.3.21 | |||||||
| Net income | for the | reporting | period (as per the Statement | ofFinancial | ||||
| Activities) | 18,438 | 49,981 | ||||||
| Adjustments | for: | |||||||
| Depreciation | charges | 135,545 | 139,497 | |||||
| Decrease in | stocks | 4,500 | ||||||
| Increase in debtors | (34,681) | (17,811) | ||||||
| Increase/(decrease) | in | creditors | 65,841 | ~(93,583 | ||||
| Net cash provided | by | operations | 185,143 | 82,584 | ||||
| 2. | ANALYSIS | OF CHANGES | IN NET FUNDS | |||||
| At 1.4.21 | Cash flow | At 31.3.22 | ||||||
| Net cash | ||||||||
| Cash at bank | and in | hand | 234,544 | 171,607 | 406,151 | |||
| 234,544 | 171,607 | 406,151 | ||||||
| Total | 234,544 | 171,607 | 406,151 |
| INCOME FROM CHA | RITA | BLE AC | TIVITIES | ||
|---|---|---|---|---|---|
| 31.3.22 | 31.3.21 | ||||
| Activity | |||||
| Ticket sales - live events | Theatre | 15,725 | 14,146 | ||
| Cardigan Castle events |
Theatre | 7,607 | |||
| Cinema | Theatre | 104,809 | 1,249 | ||
| Theatre hire | Theatre | 14,051 | 1,590 | ||
| Otherincome | Theatre | 8,233 | 173 | ||
| Cyngor Sir Ceredigion | Theatre | 18,073 | |||
| Arts Council ofWales- | |||||
| consolidated revenue grant |
Theatre | 270,827 | 271,427 | ||
| Cardigan Town Council |
Theatre | 2,500 | 2,500 | ||
| Production performance |
fees | Theatre | 13,180 | ||
| Theatre participation | Theatre | 1,115 | |||
| CD Sales | Theatre | 16,603 | 9,013 | ||
| Other Voices grant | Theatre | 96,900 | |||
| Music Royalty income |
Theatre | 3,722 | 7,434 | ||
| Arts Council ofWales Culture | |||||
| Recovery Fund - revenue | Theatre | 296,278 | 205,200 | ||
| Arts Council ofWales Culture | |||||
| Recovery Fund - capital | Theatre | 49,762 | |||
| Production performance |
fees | Touring | Productions | 120,816 | 17,490 |
| Other production income |
Touring | Productions | 8,439 | ||
| 893,256 | 685,606 |
| 6. | RAISING | FUNDS | FUNDS | ||||
|---|---|---|---|---|---|---|---|
| Other trading | activities | ||||||
| 31.3.22 | 31.3.21 | ||||||
| Purchases | 22,063 | 4,500 | |||||
| 7. | CHARITABLE ACTIVITIES COSTS | ||||||
| Support | |||||||
| Direct | costs (see | ||||||
| Costs | note 8) | Totals | |||||
| 6 | |||||||
| Theatre | 447,606 | 317,804 | 765,410 | ||||
| Touring Productions |
165,381 | 165,381 | |||||
| 612,987 | 317,804 | 930,791 | |||||
| 8. | SUPPORT | COSTS | |||||
| Governance | |||||||
| Management | Finance | costs | Totals | ||||
| 6 | |||||||
| Theatre | 298,636 | 7,138 | 12,030 | 317,804 | |||
| 9. | NET INCOME/(EXPENDITURE) | ||||||
| Net income/(expenditure) | is stated atter charging/(crediting): | ||||||
| 31.3.22 | 31.3.21 | ||||||
| Auditors' remuneration |
3,100 | 3,000 | |||||
| Auditors' remuneration |
for non audit work | 1,320 | 1,120 | ||||
| Depreciation | - | owned assets | 135,544 | 139,502 | |||
| Other operating | leases | 194 | 179 |
| 31.3.22 | 31.3.21 | |||||
|---|---|---|---|---|---|---|
| Wages and salaries Social security costs Other pension costs Redundancy costs |
328,137 29,334 21,033 |
360,139 29,558 23,087 32,192 |
||||
| 378,504 | 444,976 | |||||
| The average | monthly | number ofemployees | during | the year was as follows: | ||
| 31.3.22 | 31.3.21 | |||||
| Theatre Management | 8 | 9 | ||||
| Cleaning | I | 2 | ||||
| Technicians | I | I | ||||
| 10 | 12 |
| 12. | COMPARATIVES | FOR THE STATEMENT OF FINANCIAL ACTIVITIES | FOR THE STATEMENT OF FINANCIAL ACTIVITIES | FOR THE STATEMENT OF FINANCIAL ACTIVITIES | ||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||||
| fund | fund | funds | ||||
| f. | ||||||
| INCOME AND ENDOTYMENTS FROM | ||||||
| Donations and legacies |
170 | 170 | ||||
| Charitable activities |
||||||
| Theatre | 668,116 | 668,116 | ||||
| Touring Productions |
17,490 | 17,490 | ||||
| Commercial trading |
activities | 23,722 | 23,722 | |||
| Investment income |
61 | 61 | ||||
| Otherincome | 228,124 | 228,124 | ||||
| Total | 937,683 | 937,683 | ||||
| EXPENDITURE ON | ||||||
| Raising funds | 4,500 | 4,500 | ||||
| Commercial trading |
activities | 12,786 | 12,786 | |||
| Charitable activities |
||||||
| Theatre | 621,825 | 132,764 | 754,589 | |||
| Touring Productions | 104,891 | 104,891 | ||||
| Total | 744,002 | 132,764 | 876,766 | |||
| NET INCOME/(EXPENDITURE) | 193,681 | (132,764) | 60,917 | |||
| RECONCILIATION | OF FUNDS | |||||
| Total funds brought | forward | 312,409 | 4,066,236 | 4,378,645 | ||
| TOTAL FUNDS CARRIED FORWARD | 506,090 | 3,933,472 | 4,439,562 |
| 13. | GROUP TANGIBLE FIXEDASSETS | |||
|---|---|---|---|---|
| Freehold | Long | Plant and | ||
| property | leasehold | machinery | ||
| 8 | 8 | |||
| COST | ||||
| At I April 2021 |
651,048 | 5,661,118 | 1,048,358 | |
| Additions | 2,610 | |||
| At 31 March 2022 | 651,048 | 5,661,118 | 1,050,968 | |
| DEPRECIATION | ||||
| At 1 April 2021 |
234,377 | 2,003,618 | 1,026,124 | |
| Charge for year | 13,021 | 114,291 | 8,547 | |
| At 31 March 2022 | 247,398 | 2,117,909 | 1,034,671 | |
| NET BOOK VALUE | ||||
| At 31 March 2022 | 403,650 | 3,543,209 | 16,297 | |
| At 31 March 2021 | 416,671 | 3,657,500 | 22,234 | |
| Fixtures | ||||
| and | Motor | |||
| fittings | vehicles | Totals | ||
| 8 | ||||
| COST | ||||
| At I April 2021 | 270,106 | 16,450 | 7,647,080 | |
| Additions | 2,610 | |||
| At 31 March 2022 | 270,106 | 16,450 | 7,649,690 | |
| DEPRECIATION | ||||
| At I April 2021 | 270,106 | 16,451 | 3,550,676 | |
| Charge for year | 135,859 | |||
| At 31 March 2022 | 270,106 | 16,451 | 3,686,535 | |
| NET BOOK VALUE | ||||
| At 31 March 2022 | 3,963,155 | |||
| At 31 March 2021 | 4,096,405 |
| 14. | FIXED ASSET INVESTMENTS | ||
|---|---|---|---|
| 31.3.22 | 31.3.21 | ||
| Shares | 100 | 100 | |
| Loans | 140,739 | 129,814 | |
| 140,839 | 129,914 | ||
| Shares in | |||
| gl'oup | |||
| undertakings | |||
| 8 | |||
| MARKET VALUE | |||
| At I April 2021 and 31 March 2022 | 100 | ||
| NET BOOK VALUE | |||
| At 31 March 2022 | 100 | ||
| At 31 March 2021 | 100 | ||
| Loans to | |||
| group | |||
| undertakings f |
|||
| At I April 2021 | 129,814 | ||
| New in year | 10,925 | ||
| At 31 March 2022 | 140,739 |
| 31.3.22 | 31.3.21 | 31.3.22 | 31.3.21 | |
|---|---|---|---|---|
| Group | Group | Charity f |
Charity | |
| Stocks | 500 | 500 | 500 | 500 |
| 31.3.22 | 31.3.21 | 31.3.22 | 31.3.21 | ||
|---|---|---|---|---|---|
| Group | Group | Charity | Charity | ||
| Trade debtors | 118,403 | 86,748 | 115,575 | 84,651 | |
| Prepayments | and accrued income | 49,655 | 45,909 | 49,655 | 45,909 |
| VAT | 33,836 | 33,522 | 28,195 | 28,184 | |
| 201,894 | 166,179 | 193,425 | 158,744 |
| 31.3,22 | 31.3.21 | 31,3.22 | 31.3.21 | |||
|---|---|---|---|---|---|---|
| Group | Group | Charity | Charity | |||
| Trade creditors | 38,924 | 27,392 | 31,127 | 27,392 | ||
| Third party funds | 4,759 | 3 593 | 4,759 | 3,593 | ||
| Social security | and other taxes | 7,327 | 6,672 | 7,327 | 6,672 | |
| Other creditors | 2,572 | 1,490 | 144 | |||
| Accruals and deferred | income | 109,304 | 49,163 | 109,304 | 49,163 | |
| 162,886 | 88,310 | 152,661 | 86,820 |
| MOVEMENT | IN FUNDS | ||||
|---|---|---|---|---|---|
| Net | |||||
| movement | At | ||||
| At 1.4.21 | in funds | 31.3.22 | |||
| Unrestricted | funds | ||||
| General fund |
598,573 | 149,554 | 748,127 | ||
| Restricted funds |
|||||
| Capital Fund | 3,933,473 | (131,116) | 3,802,357 | ||
| TOTAL FUNDS | 4,532,046 | 18,438 | 4,550,484 | ||
| Net movement | in funds, included | in the above are as follows: | |||
| Incoming | Resources | Movement | |||
| resources | expended | in funds | |||
| Unrestricted | funds | ||||
| General fund |
971,292 | (821,738) | 149,554 | ||
| Restricted funds |
|||||
| Capital Fund | (131,116) | (131,116) | |||
| TOTAL FUNDS | 971,292 | (952,854) | 18,438 |
| 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 | |||||
| Comparative net movement |
in funds, included | in the above are as follows: | ||||||
| Incoming | Resources | Movement | ||||||
| resources | expended | in funds | ||||||
| Unrestricted funds |
||||||||
| General fund |
913,960 | (731,216) | 182,744 | |||||
| Restricted funds |
||||||||
| Capital Fund | I | (132,764) | (132,763) | |||||
| TOTAL FUNDS | 913,961 | (863,980) | 49,981 | |||||
| A current year 12 months | and prior year 12 months | combined | position | is as follows: | ||||
| Net | ||||||||
| movement | At | |||||||
| At 1.4.20 | in funds | 31.3.22 | ||||||
| Unrestricted funds |
||||||||
| General fund |
415,829 | 332,298 | 748,127 | |||||
| Restricted funds |
||||||||
| Capital Fund | 4,066,236 | (263,879) | 3,802,357 | |||||
| TOTAL FUNDS | 4,482,065 | 68,419 | 4,550,484 |
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| Unrestricted funds |
|||
| General fund |
1,885,252 | (1,552,954) | 332,298 |
| Restricted funds |
|||
| Capital Fund |
(263,880) | (263,879) | |
| TOTAL FUNDS | 1,885,253 | (1,816,834) | 68,419 |
| Summary Profit and Loss accoun |
t | ||
|---|---|---|---|
| 31.3.22 | 31.3.21 | ||
| 8 | 8 | ||
| Turnover | 12,195 | 3,722 | |
| Covid grant | 20,000 | ||
| Cost ofsales and administrative | expenses | ~24 845 | ~12786 |
| Net loss for the period | (12,650) | 10,936 | |
| Summary ofassets and liabilities |
|||
| Fixed assets | 925 | 1,240 | |
| Current assets | 45,005 | 37,679 | |
| Current liabilities |
(10,225) | (1,489) | |
| Long term liabilities | ~I40739 | ~129814 | |
| Total net liabilities | 105034 | ~24 | |
| Share Capital | 100 | 100 | |
| Profit and (loss) account | ~105 134 | (992484 | |
| Financed by Theatr Mwldan |
~105034 | (9224 |
| Detailed Statement ofFinancial | Detailed Statement ofFinancial | Activities | ||||
|---|---|---|---|---|---|---|
| for the Year Ended 31 March | 2022 | |||||
| 31.3.22 | 31.3.21 | |||||
| INCOiVIE AND ENDOWMENTS | ||||||
| Donations and legacies |
||||||
| Donations | 3,197 | 66 | ||||
| Subscriptions | 68 | 104 | ||||
| 3,265 | 170 | |||||
| Other trading activities |
||||||
| Bar sales | 39,464 | |||||
| Investment income |
||||||
| Caffi income | 1,024 | 61 | ||||
| Charitable activities |
||||||
| Ticket sales - live events | 15,725 | 14,146 | ||||
| Cardigan Castle events |
7,607 | |||||
| Cinema | 104,809 | 1,249 | ||||
| Theatre hire | 14,051 | 1,590 | ||||
| Other income | 8,233 | 173 | ||||
| Cyngor Sir Ceredigion | 18,073 | |||||
| Arts Council ofWales - | consolidated | revenue | grant | 270,827 | 271,427 | |
| Cardigan Town Council |
2,500 | 2,500 | ||||
| Production performance |
fees | 133,996 | 17,490 | |||
| Other production income |
8,439 | |||||
| Theatre participation | 1,115 | |||||
| CD Sales | 16,603 | 9,013 | ||||
| Other Voices grant | 96,900 | |||||
| Music Royalty income | 3,722 | 7,434 | ||||
| Arts Council ofWales Culture Recovery Fund- | ||||||
| revenue | 296,278 | 205,200 | ||||
| Arts Council ofWales Culture Recovery Fund— | ||||||
| capital | 49,762 | |||||
| 893,256 | 685,606 | |||||
| Other income | ||||||
| Covid rates grant | 25,000 | |||||
| Covid JRSgrant | 34,283 | 203,124 | ||||
| 34,283 | 228,124 | |||||
| Total incoming resources |
971,292 | 913,961 |
| Detailed Statement ofFinancial | Activities | ||||||
|---|---|---|---|---|---|---|---|
| for the Year Ended 31 March | 2022 | ||||||
| 31.3.22 | 31.3.21 | ||||||
| 6 | |||||||
| EXPENDITURE | |||||||
| Other trading activities |
|||||||
| Bar cost ofsales | 22,063 | 4,500 | |||||
| Charitable activities |
|||||||
| Wages | 39,706 | 45,627 | |||||
| Social security | 4,582 | 5,483 | |||||
| Redundancy | 9,889 | ||||||
| Rates and water | 1,557 | 931 | |||||
| Insurance | 18,373 | 14,904 | |||||
| Light and heat | 24,249 | 19,748 | |||||
| Telephone & internet | 17,751 | 18,574 | |||||
| Postage and stationery | 514 | 535 | |||||
| Advertising | 2,545 | ||||||
| Cinema - film hire |
46,182 | 535 | |||||
| Cinema - other costs | 1,378 | ||||||
| Touring production costs |
1,152 | ||||||
| Repairs and renewals | 69,618 | 68,274 | |||||
| Cleaning materials | &support | 6,037 | 949 | ||||
| Cleaning wages | 35,257 | 44,098 | |||||
| Social security | 2,062 | 2,293 | |||||
| Licences and Performing | Rights Society | 4,648 | 1,203 | ||||
| Programme printing |
and | distribution | 7,450 | 3,679 | |||
| Other marketing expenses |
9,319 | 5,545 | |||||
| Grants to other organisations | 19,488 | 19,447 | |||||
| Motor expenses | 385 | 1,450 | |||||
| Production Artist |
fees | 113,682 | 22,509 | ||||
| Other Production | costs | 26,138 | 806 | ||||
| Production travel |
and | accommodation | 7,398 | (2,418) | |||
| Other Voices expenses | 4,890 | 86,450 | |||||
| CD Sales Costs | 13,081 | 3,179 | |||||
| Depreciation oftangible | fixed assets | 135,545 | 139,497 | ||||
| 612,987 | 513,187 | ||||||
| Support costs | |||||||
| Management | |||||||
| Wages | 253,174 | 270,414 | |||||
| Social security | 22,690 | 21,782 | |||||
| Pensions | 21,033 | 23,087 | |||||
| Other operating | leases | 194 | 179 | ||||
| Staffand volunteers' | expenses | 1,545 | 663 | ||||
| Redundancy | 22,303 | ||||||
| 298,636 | 338,428 |
| Detailed Statement ofFinancial | Activities | |||||
|---|---|---|---|---|---|---|
| for the Year Ended 31 March | 2022 | |||||
| 31.3.22 | 31.3.21 | |||||
| Management | ||||||
| Finance | ||||||
| Bank charges | 7,138 | 2,235 | ||||
| Governance | costs | |||||
| Auditors' | remuneration | 3,100 | 3,000 | |||
| Auditors' | remuneration | for non audit work | 1,320 | 1,120 | ||
| Directors' | indemnity | insurance | 1,520 | 1,510 | ||
| Legal 6t professional | fees | 6,090 | ||||
| 12,030 | 5,630 | |||||
| Total resources | expended | 952,854 | 863,980 | |||
| Net income | 18,438 | 49,981 |