| Page | |||
|---|---|---|---|
| Report ofthe Trustees | 1 | to | 5 |
| Report ofthe Independent Auditors |
6 | 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 | 26 |
| for | the Year | Ended 31March | 2023 | |||
|---|---|---|---|---|---|---|
| 31.3.23 | 31.3.22 | |||||
| Unrestricted | Restricted | Total | Total | |||
| fund | fund | funds | funds | |||
| Notes | f, | |||||
| INCOME AND ENDOWMENTS FROM | ||||||
| Donations and legacies |
2 | 3,569 | 3,569 | 3,265 | ||
| Charitable activities |
5 | |||||
| Theatre | 1,116,613 | 1,116,613 | 764,001 | |||
| Touring Productions | 134,416 | 134,416 | 129,255 | |||
| Commercial trading |
activities | 19 | 21,390 | 21,390 | 12,195 | |
| Other trading activities | 3 | 125,288 | 125,288 | 39,464 | ||
| Investment income |
4 | 1,000 | 1,000 | 1,024 | ||
| Other income | 34,283 | |||||
| Total | ~1402276 | ~1402276 | ~983487 | |||
| EXPENDITURE ON | ||||||
| Raising funds | 6 | 59,346 | 59,346 | 22,063 | ||
| Commercial trading activities |
19 | 20,579 | 20,579 | 24,845 | ||
| Charitable activities |
||||||
| Theatre | 1,159,596 | 131,347 | 1,290,943 | 765,410 | ||
| Touring Productions | 161,346 | 161346 | ~165381 | |||
| Total | 1400 867 | 131347 | ~1532214 | ~977699 | ||
| NET INCOME/(EXPENDITURE) | 1,409 | (131347) | (129,938) | 5,788 | ||
| RECONCILIATION | OF FUNDS | |||||
| Total funds brought forward | 642,994 | 3,802,356 | 4,445,350 | 4,439,562 | ||
| TOTAL FUNDS CARRIED FORWARD | 644,403 | 3671009 | 4315412 | 4445,350 |
| 31.03.23 | 31.03.22 | 31.03.23 | 31.03.22 | ||
|---|---|---|---|---|---|
| Group funds | Group funds | Charity funds |
Charity funds | ||
| Notes | |||||
| FIXEDASSETS | |||||
| Tangible assets | 13 | 3,828,618 | 3,963,155 | 3,827,928 | 3,962,230 |
| Investments | 14 | ~147455 | 140,839 | ||
| 3,828,618 | 3,963,155 | 3,975,383 | 4,103,069 | ||
| CURRENT ASSETS | |||||
| Stocks | 15 | 500 | 500 | 500 | 500 |
| Debtors | 16 | 210,465 | 201,894 | 208,090 | 193,425 |
| Cash at bank and in hand | ~527 866 | ~442 687 | 485 356 | 406 151 | |
| 738,831 | 645,081 | 693,946 | 600,076 | ||
| CREDITORS | |||||
| Amounts falling due within one year |
17 | (252,037) | (162,886) | (249,594) | (152,661) |
| NET CURRENT ASSETS | ~486 794 | ~482 195 | 444 352 | 447 415 | |
| TOTAL ASSETSLESSCURRENT | |||||
| LIABILITIES | 4,315,412 | 4,445,350 | 4,419,735 | 4,550,484 | |
| NET ASSETS | 4,315,412 | 4,445,350 | 4,419,735 | 4,550,484 | |
| FUNDS | 18 | ||||
| Unrestricted funds |
644,402 | 642,993 | 748,725 | 748,127 | |
| Restricted funds |
3 671 010 | 3802357 | 3671010 | ~802 57 |
|
| TOTAL FUNDS | ~441 ~& | ~45 04 4 |
| Cash Flow Statement | |||||||
|---|---|---|---|---|---|---|---|
| for the | Year Ended 31March | 2023 | |||||
| 31.3.23 | 31.3.22 | ||||||
| Notes | |||||||
| Cash flows from operating | activities | ||||||
| Cash generated from operations |
86,746 | ~185 143 | |||||
| Net cash provided by operating activities |
~86746 | 185,143 | |||||
| Cash Bows from investing | activities | ||||||
| Purchase oftangible fixed assets Loan advanced to subsidiary |
(926) ~6,615 |
(2,610) ~10,925 |
|||||
| Net cash used in investing | activities | ~7,541) | ~13535) | ||||
| Change in cash snd cash | equivalents | in | |||||
| the reporting period |
79,205 | 171,608 | |||||
| Cash and cash equivalents | at the | ||||||
| beginning ofthe reporting |
period | 406,151 | ~234 544 | ||||
| Cash and cash equivalents | at tbe end | of | |||||
| the reporting period |
485,356 | ~406 151 |
| OPERATING ACTIVI | TIES | |||
|---|---|---|---|---|
| 31.3.23 | 31.3.22 | |||
| Net (expenditure)/income | for the reporting | period (as per the | ||
| Statement ofFinancial | Activities) | (130,749) | 18,438 | |
| Adjustments for: |
||||
| Depreciation charges |
135227 | 135,545 | ||
| Increase in debtors | (14,665) | (34,681) | ||
| Increase in creditors | ~96933 | ~65 841 | ||
| Net cash provided by operations |
86,746 | ~185 143 |
| ANALYSIS OF CHANGES IN NET FUND | S | ||
|---|---|---|---|
| At 1.4.22 | Cash flow | At 31.3.23 | |
| f, | |||
| Net cash | |||
| Cash at bank and in hand | 406,151 | 79,205 | 485,356 |
| 406,151 | ~79205 | 485,356 | |
| Total | 406,151 | 79,205 | 485,356 |
| DONATIONS | AND LEGACIES | |||
|---|---|---|---|---|
| 31.3.23 | 31.3.22 | |||
| Donations | 3,461 | 3,197 | ||
| Subscriptions | 108 | 68 | ||
| 3,569 | ~3265 | |||
| 3. | OTHER TRADING ACTIVITIES | |||
| 31.3.23 | 31.3.22 | |||
| 8 | ||||
| Bar sales | 125,288 | 39,464 | ||
| 4. | INVESTMENT | INCOME | ||
| 31.3.23 | 31.3.22 | |||
| Caffi income | ~1000 | 1,024 |
| INCOME FROM C | H | ARITA | BLE ACTIVITIES | ||||
|---|---|---|---|---|---|---|---|
| 31.3.23 | 31.3.22 | ||||||
| Activity | |||||||
| Ticket sales - live events | Theatre | 70,670 | 15,725 | ||||
| Cardigan Castle events |
Theatre | 70,208 | |||||
| Cinema | Theatre | 257,899 | 104,809 | ||||
| Theatre hire | Theatre | 47,009 | 14,051 | ||||
| Other income | Theatre | 12,057 | 8,233 | ||||
| Cyngor Sir Ceredigion | Theatre | 14,000 | 18,073 | ||||
| Arts Council ofWales- | |||||||
| consolidated revenue |
grant | Theatre | 274,889 | 270,827 | |||
| Cardigan Town Council |
Theatre | 2,500 | 2,500 | ||||
| Production performance |
fees | Theatre | 13,180 | ||||
| CD Sales | Theatre | 24,305 | 16,603 | ||||
| Other Voices grant | Theatre | 295,000 | |||||
| Music Royalty income | Theatre | 12,167 | 3,722 | ||||
| Arts Council ofWales | |||||||
| Culture Recovery Fund- | |||||||
| revenue | Theatre | 9,942 | 296,278 | ||||
| Arts Council ofWales | -cost | ||||||
| ofliving grant | Theatre | 8,522 | |||||
| Other Voices -wristband | |||||||
| income | Theatre | 17,445 | |||||
| Production performance Other production income |
fees | Touring Productions Touring Productions |
113,554 ~20 862 |
120,816 8,439 |
|||
| ~1251029 | ~893256 | ||||||
| 6. | RAISING FUNDS | ||||||
| Other trading activities |
|||||||
| 31.3.23 | 31.3.22 | ||||||
| Purchases | 59,346 | 22,063 | |||||
| 7. | CHARITABLE ACTIVITIES | COSTS | |||||
| Support | |||||||
| Direct | costs (see | ||||||
| Costs | note 8) | Totals | |||||
| Theatre Touring Productions |
879,288 ~161346 |
411,655 | 1,290,943 ~161346 |
||||
| ~1040634 | ~411655 | ~1452,289 |
| Governance | |||
|---|---|---|---|
| Managetnent | Finance | costs | Totals |
| ~384 164 | ~14279 | ~13212 | ~411655 |
| Net inco | me/(exp | enditure | ) is stated alter charging/(crediting): |
||
|---|---|---|---|---|---|
| 31.3.23 | 31.3.22 | ||||
| f, | |||||
| Auditors' | remuneration | 3,150 | 3,100 | ||
| Auditors' | remuneration | for non audit work | 1,880 | 1,320 | |
| Depreciation - |
owned | assets | 135,228 | 135,544 | |
| Other operating | leases | 261 | 194 |
| STAFF COSTS | ||||
|---|---|---|---|---|
| 31.3.23 | 31.3.22 | |||
| Wages and salaries | 407,278 | 328,137 | ||
| Social security costs | 34,488 | 29,334 | ||
| Other pension costs | 22,920 | 21,033 | ||
| 464,686 | 378,504 | |||
| The average monthly | number ofemployees | during the year was as follows: | ||
| 31.3.23 | 31.3.22 | |||
| Theatre Management | 10 | 8 | ||
| Cleaning | 2 | 1 | ||
| Technicians | 1 | 1 | ||
| 13 | 10 |
| Notes to the Financial Statements - continued for the Year Ended 31March 2023 |
Notes to the Financial Statements - continued for the Year Ended 31March 2023 |
Notes to the Financial Statements - continued for the Year Ended 31March 2023 |
Notes to the Financial Statements - continued for the Year Ended 31March 2023 |
||
|---|---|---|---|---|---|
| 12. | COMPARATIVES FORTHE STATEMENT OFFINANCIAL ACTIVITIES | ||||
| Unrestricted | Restricted | Total | |||
| fund | fund | funds | |||
| f, | |||||
| INCOME AND ENDOWMENTS FROM | |||||
| Donations and legacies |
3,265 | 3,265 | |||
| Charitable activities |
|||||
| Theatre | 764,001 | 764,001 | |||
| Touring Productions | 129,255 | 129,255 | |||
| Commercial trading activities |
12,195 | 12,195 | |||
| Other trading activities | 39,464 | 39,464 | |||
| Investment income Other income |
1,024 ~34 83 |
1,024 ~34283 |
|||
| Total | 983,487 | 983,487 | |||
| EXPENDITURE ON | |||||
| Raising funds | 22,063 | 22,063 | |||
| Commercial trading activities |
24,845 | 24,845 | |||
| Charitable activities |
|||||
| Theatre | 634,294 | 131,116 | 765,410 | ||
| Touring Productions | ~165381 | ~165381 | |||
| Total | ~846 583 | ~131116 | ~977699 | ||
| NET INCOME/(EXPENDITURE) | 136,904 | (131,116) | 5,788 | ||
| RECONCILIATION | OF FUNDS | ||||
| Total funds brought forward |
506,090 | 3,933,472 | 4,439,562 | ||
| TOTAL FUNDS CARRIED FORWARD | ~642 994 | ~3802356 | 4,445,350 |
| GROUP TANGIBLE FIXEDASSETS | |||
|---|---|---|---|
| Freehold | Long | Plant and | |
| property | leasehold | machinery | |
| COST | |||
| At 1April 2022 | 651,048 | 5,661,118 | 1,050,968 |
| Additions | 926 | ||
| At 31March 2023 | ~651048 | ~5661 118 | ~1051894 |
| DEPRECIATION | |||
| At 1 April 2022 Charge for year |
247,398 ~13021 |
2,117,909 114,291 |
1,034,671 8 151 |
| At 31March 2023 | 260,419 | ~2232200 | ~1042822 |
| NET BOOKVALUE At 31March 2023 |
390,629 | ~3,428 918 | ~9072 |
| At 31March 2022 | 403,650 | ~3543,209 | 16,297 |
| Fixtures | |||
| and | Motor | ||
| fittings | vehicles | Totals | |
| 6 | 6 | ||
| COST | |||
| At 1Apri!2022 | 270,106 | 16,450 | 7,649,690 |
| Additions | 926 | ||
| At 31March 2023 | ~270 106 | 16,450 | 7,650,616 |
| DEPRECIATION | |||
| At 1April 2022 Charge for year |
270,106 | 16,451 | 3,686,535 ~135463 |
| At 31March 2023 | ~270 106 | ~16451 | 3,821,998 |
| NET BOOKVALUE | |||
| At 31March 2023 | 3,828,618 | ||
| At 31March 2022 | 3 963 155 |
| 31.3.23 | 31.3.22 | |||||||
|---|---|---|---|---|---|---|---|---|
| Shares | 100 | 100 | ||||||
| Loans | 147,355 | 140,739 | ||||||
| 147,455 | 140,839 | |||||||
| Shares in | ||||||||
| group | ||||||||
| ~TVALUE | undertakings | |||||||
| At 1 April 2022 and 31March 2023 | 100 | |||||||
| NET BOOK VALUE | ||||||||
| At 31March | 2023 | 100 | ||||||
| At 31March | 2022 | 100 | ||||||
| Loans to | ||||||||
| group | ||||||||
| undertakings | ||||||||
| At 1 April 2022 | 140,739 | |||||||
| New in year | 6,616 | |||||||
| At 31March | 2023 | 14~7355 | ||||||
| There were no investment | assets outside | the UK. | ||||||
| 15. | STOCKS | |||||||
| 31.03.23 | 31.03.22 | 31.3.23 | 31.3.22 | |||||
| Group | Group | Charity | Charity | |||||
| 6 | ||||||||
| Stocks | 500 | 51111 | 5310 | 500 | ||||
| 16. | DEBTORS: | AMOUNTS | FALLING DUE WITHIN ONE | YEAR | ||||
| 31.03.23 | 31.03.22 | 31.3.23 | 31.3.22 | |||||
| Group | Group | Charity | Charity | |||||
| 8 | 8 | |||||||
| Trade debtors | 95,206 | 118,403 | 94,148 | 115,575 | ||||
| Other debtors | 54,980 | 54,980 | ||||||
| VAT | 1,317 | 33,836 | 28,195 | |||||
| Prepayments | and accrued | income | 58962 | 49 | 655 | 58,962 | ~49655 | |
| ~0465 | 2~14 | 208,090 | ~193 425 |
| 17. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE | YEAR | ||
|---|---|---|---|---|---|---|---|
| 31.03.23 | 31.03.22 | 31.3.23 | 31.3.22 | ||||
| Group | Group | Charity | Charity | ||||
| 6 | f, | ||||||
| Trade creditors | 13,240 | 38,924 | 13,240 | 31,127 | |||
| Third party funds | 4,759 | 4,759 | |||||
| Social security | and other taxes | 8,337 | 7,327 | 8,337 | 7,327 | ||
| VAT | 16,$19 | 16,819 | |||||
| Other creditors | 2,443 | 2,572 | 144 | ||||
| Accruals and | deferred income | 21119$ | 109304 | 211,198 | ~109304 | ||
| ~252 037 | ~162 886 | 249,594 | ~152661 | ||||
| 18. | MOVEMENT | IN FUNDS | |||||
| Net | |||||||
| movement | At | ||||||
| Ai 1.4.22 | in funds | 31.3.23 | |||||
| f. | |||||||
| Unrestricted | funds | ||||||
| General fund | 748,127 | 598 | 748,725 | ||||
| Restricted funds | |||||||
| Capital Fund | 3,802,357 | (131,347) | 3,671,010 | ||||
| TOTAL FUNDS | 4559494 | ~339749 | 4419733 | ||||
| Net movement | in funds, included | in the above are as follows: | |||||
| Incoming | Resources | Movement | |||||
| resources | expended | in funds | |||||
| 8 | |||||||
| Unrestricted | funds | ||||||
| General fund | 1,380,886 | (1,380,288) | 598 | ||||
| Restricted funds | |||||||
| Capital Fund | (131,347) | (131,347) | |||||
| TOTAL FUNDS | ~1,3$0886 | ~1337633 | ~1397493 |
| Net | |||||||
|---|---|---|---|---|---|---|---|
| movement | At | ||||||
| At 1.4.21 | in funds | 31.3.22 | |||||
| 8 | |||||||
| Unrestricted | funds | ||||||
| General fund | 598,573 | 149,554 | 748,127 | ||||
| Restricted funds | |||||||
| Capital Fund | 3,933,473 | (131,116) | 3,802,357 | ||||
| TOTAL FUNDS | ~4532046 | ~18438 | ~4550 484 | ||||
| Comparative | 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 | 971292 | ~952 854) | 18,438 | ||||
| A current year | 12months | and prior year 12 months | combined position is as follows: | ||||
| Net | |||||||
| movement | At | ||||||
| At 1.4.21 | in funds | 31.3.23 | |||||
| 8 | |||||||
| Unrestricted | funds | ||||||
| General fund | 598,573 | 150,152 | 748,725 | ||||
| Restricted funds | |||||||
| Capital Fund | 3,933,473 | (262,463) | 3,671,010 | ||||
| TOTALFUNDS | ~4532 046 | ~112311) | ~4,419735 |
| Incoming | Resources | Movement | ||
|---|---|---|---|---|
| resources | expended | in funds | ||
| 8 | ||||
| Unrestricted | funds | |||
| General fund |
2,352,178 | (2,202,026) | 150,152 | |
| Restricted funds | ||||
| Capital Fund | (262,463) | (262,463) | ||
| TOTAL FUNDS | ~2352 178 | ~2464 489) | 112311 |
| 31.03.23 | 31.03.22 | ||
|---|---|---|---|
| Turnover | 21,390 | 12,195 | |
| Costofsales and administrative | expenses | {220579 | {224845 |
| Net profit for the period | 811 | (12,650) | |
| Summary ofassets and liabilities | |||
| Fixed assets | 690 | 925 | |
| Current assets | 44,885 | 45,005 | |
| Current liabilities | (2,443) | (10,225) | |
| Long term liabilities | ~147355 | ~140739 | |
| Total net liabilities | (104,223) | 1050 | |
| Share Capital | 100 | 100 | |
| Profit and (loss) account | ~104323 | ~105 134 | |
| Financed by Theatr Mwldan | 14 2 | 10503 |
| for tbe Year Ended 31M | arch 2023 | |||
|---|---|---|---|---|
| 31.3.23 | 31.3.22 | |||
| INCOME AND ENDOWMENTS | ||||
| Donations and legacies |
||||
| Donations | 3,461 | 3,197 | ||
| Subscriptions | 108 | 68 | ||
| 3,569 | 3,265 | |||
| Other trading activities | ||||
| Bar sales | 125,288 | 39,464 | ||
| Investment income |
||||
| Caffi income | 1,000 | 1,024 | ||
| Charitable activities |
||||
| Ticket sales - live events | 70,670 | 15,725 | ||
| Cardigan Castle events | 70,208 | |||
| Cinema | 257,899 | 104,809 | ||
| Theatre hire | 47,009 | 14,051 | ||
| Other income | 12,057 | 8,233 | ||
| Cyngor Sir Ceredigion | 14,000 | 18,073 | ||
| Arts Council ofWales - | consolidated | revenue | ||
| grant | 274,889 | 270,827 | ||
| Cardigan Town Council | 2,500 | 2,500 | ||
| Production performance |
fees | 113,554 | 133,996 | |
| Other production income |
20,862 | 8,439 | ||
| CD Sales | 24,305 | 16,603 | ||
| Other Voices grant | 295,000 | |||
| Music Royalty income | 12,167 | 3,722 | ||
| Arts Council ofWales Culture Recovery Fund- | ||||
| revenue | 9,942 | 296,278 | ||
| Arts Council ofWales Other Voices -wristband |
-costofliving grant income |
8,522 ~17445 |
||
| 1,251,029 | 893,256 | |||
| Other income | ||||
| Covid JRSgrant | 34,283 | |||
| Total incoming resources | 1,380,886 | 971,292 | ||
| EXPENDITURE | ||||
| Other trading activities |
||||
| Bar costofsales | 59,346 | 22,063 | ||
| Charitable activities |
||||
| Wages | 34,284 | 39,706 | ||
| Social security | 3,468 | 4,582 | ||
| Carried forward | 37,752 | 44,288 |
| for the Year Ended 31 | March 2023 | |||
|---|---|---|---|---|
| 31.3.23 | 31.3.22 | |||
| f. | ||||
| Charitable activities |
||||
| Brought forward | 37,752 | 44,288 | ||
| Rates and water | 2,341 | 1,557 | ||
| Insurance | 21,686 | 18,373 | ||
| Light and heat | 46,737 | 24,249 | ||
| Telephone St internet |
15,951 | 17,751 | ||
| Postage and stationery | 704 | 514 | ||
| Advertising | 4,523 | 2,545 | ||
| Cardigan Castle event | costs | 65,446 | ||
| Cinema - film hire | 111,616 | 46,182 | ||
| Cinema - other costs | 339 | 1,378 | ||
| Touring production costs |
1,152 | |||
| Repairs and renewals | 48,312 | 69,618 | ||
| Cleaning materials 8:support | 8,577 | 6,037 | ||
| Cleaning wages | 45,665 | 35,257 | ||
| Social security | 2,309 | 2,062 | ||
| Licences and Performing | Rights Society | 2,667 | 4,648 | |
| Programme printing and |
distribution | 19,504 | 7,450 | |
| Other marketing expenses |
11,774 | 9,319 | ||
| Grants to other organisations | 19,740 | 19,488 | ||
| Motor expenses | 1,032 | 385 | ||
| Production Artist fees |
85,140 | 113,682 | ||
| Other Production costs |
19,730 | 26,138 | ||
| Production travel and |
accommodation | 8,273 | 7,398 | |
| Other Voices expenses | 255,006 | 4,890 | ||
| CD Sales Costs | 20,929 | 13,081 | ||
| Live show performance | cost | 49,654 | ||
| Depreciation oftangible | fixed assets | ~135227 | ~135545 | |
| 1,040,634 | 612,987 | |||
| Support costs | ||||
| Management | ||||
| Wages | 327,329 | 253,174 | ||
| Social security | 28,711 | 22,690 | ||
| Pensions | 22,920 | 21,033 | ||
| Other operating leases |
261 | 194 | ||
| Staffand volunteers' | expenses | 4,943 | 1,545 | |
| 384,164 | 298,636 | |||
| Finance | ||||
| Bank charges | 14,279 | 7,138 | ||
| Governance costs |
||||
| Auditors' remuneration |
3,150 | 3,100 | ||
| Auditors' remuneration |
for non audit work | 1,880 | 1,320 | |
| Directors' indemnity insurance Legal Stprofessional fees |
1,520 ~6662 |
1,520 ~6090 |
||
| ~13212 | ~12030 | |||
| Total resources expended | ~1511635 | ~952 854 | ||
| Net (expenditure)/income | ~130749 | ~IS 438 |