|||Page|
|---|---|---|
|Report ofthe Trustees||1to7|
|Independent
Examiner's|Report||
|Statement ofFinancial|Activities||
|Balance Sheet|||
|Cash Flow Statement|||
|Notes to the Cash Flow|Statement||
|Notes to the Financial Statements||13to 21|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|
||||||Unrestricted|Restricted|Total|Total|
||||||funds|funds|funds|funds|
|||||Notes|F|E|||
|INCOME AND ENDOWMENTS||FROM|||||||
|Donations
and legacies|||||256,917|28,991|285,908|394,339|
|Other trading
activities|||||2,759|4,350|7,109|194,524|
|investment
income|||||52||52|129|
|Other income|||||57,255||57,255|62,580|
|Total|||||316,983|33,341|350,324|651,572|
|EXPENDITURE ON|||||||||
|Raising funds||||||||6,125|
|Charitable
activities|||||||||
|Advancing
education|ofthe public||in the||||||
|appreciation
ofnew|opera and|music theatre|||247,5?4|40,073|287,647|812,692|
|Total|||||247,574|40,073|287,647|818,817|
|NET INCOME/(EXPENDITURE)|||||69,409|(6,732)|62,677|(167,245)|
|Transfers
between|funds|||19|~7,316)|7,316|||
|Net movement
in funds|||||62,093|584|62,677|(167,245)|
|RECONCILIATION|OF FUNDS||||||||
|Total funds brought|forward||||97,864|78,894|176,758|344,003|
|TOTAL FUNDS CARRIED FORWARD|||||159,957|79,478|239,435|176,758|
##
|||||||2021|2020|
|---|---|---|---|---|---|---|---|
||||||Notes|E|f|
|Cash flows from operating||activities:||||||
|Cash generated
from|operations|||||84,326|(226,776)|
|Tax paid|||||||25,538|
|Net cash provided
by (used in) operating||||||||
|activities||||||84,326|)201,230)|
|Cash flows from investing||activities:||||||
|Purchase oftangible|fixed assets|||||(3,052)|(2,232)|
|Sale oftangible
fixed|assets||||||2,844|
|Interest received||||||52|129|
|Net cash provided
by (used in) investing
activities||||||~3,000)|741|
|Change
in cash and|cash|equivalents|in the|||||
|reporting
period||||||81,326|(200,497)|
|Cash and cash equivalents||at the beginning||of||||
|the reporting
period||||||88,645|289,142|
|Cash and cash equivalents||at the end|ofthe|||||
|reporting
period||||||169,971|88,645|
||||2021|2020|
|---|---|---|---|---|
||||F|F|
|Net income/(expenditure)|for the reporting|period (as per the statement|||
|offinancial
activities)|||62,677|(167,245)|
|Adjustments
for:|||||
|Depreciation
charges|||2,628|2,569|
|Loss/(profit)
on disposal offixed assets|||2,280|(2,844)|
|Interest received|||(52)|(129)|
|Decrease/(increase)
in debtors
Decrease
in creditors|||17,124
~331)|(53,219)
~5.906)|
|Net cash provided
by (used in) operating||activities|84,326|)226,776)|
|2.|ANALYSIS OF CHANGES|IN NET FUNDS||||
|---|---|---|---|---|---|
||||At 1/4/20|Cash flow|At 31/3/21|
||||E||E|
||Net cash|||||
||Cash at bank and in hand||88,645|81,326|169,971|
||Total||88,645|81,326|169,971|
##
##
##
##
##
##
##
##
##
##
##
||||||2021|2020|
|---|---|---|---|---|---|---|
|||||||E|
|Donations|||||1,270|11,712|
|Gift aid|||||2|2,105|
|Grants|||||284,636|380,522|
||||||285,908|394,339|
|Grants received,
included|||in the above, are as follows:||||
||||||2021|2020|
||||||E|E|
|Arts Council ofWales|||||222,214|283,009|
|Mystrica Trust||||||5,000|
|The Boltini Trust|||||5,000||
|Colwinston
Charitable||Trust||||25,000|
|Arts Council ofWales||- Resilience||||31,066|
|PRS Foundation||||||2,500|
|The Leche Trust||||||3,000|
|Stephen
Oliver Trust||||||10,000|
|Opera Philadelphia||||||20,947|
|Fidelio Charitable|Trust||||2,000||
|Ernst von Siemens|Music||Foundation||21,119||
|The Marchus Trust|||||5,000||
|Cardiff County Council||- business||rate relief|10,000||
|Job Retention Scheme|||||19,303||
||||||284,636|380,522|
|4.|OTHER TRADING ACTIVITIES|OTHER TRADING ACTIVITIES|OTHER TRADING ACTIVITIES|OTHER TRADING ACTIVITIES|OTHER TRADING ACTIVITIES||||||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||2021|2020|
||||||||||F||
||Venue fees and programme||||sales||||2,100|74,471|
||Co-production/commission||||fees||||4,934|113,335|
||Other earned income||||||||75|6,718|
||||||||||7,109|194,524|
|5.|INVESTMENT INCOME||||||||||
||||||||||2021|2020|
||||||||||E|E|
||Deposit account interest||||||||52|129|
|6.|OTHER INCOME||||||||||
||||||||||2021|2020|
|||||||||||F|
||Gain on sale oftangible|||fixed assets|||||861|2,844|
||Theatre tax relief||||||||56,394|59,736|
||||||||||57,255|62,580|
|7.|RAISING FUNDS||||||||||
||Raising donations|and||legacies|||||||
||||||||||2021|2020|
|||||||||||E|
||Fundraising
costs|||||||||6,125|
|8.|CHARITABLE ACTIVITIES||||COSTS||||||
|||||||||Direct costs|Support costs|Totals|
|||||||||(See note 9)|(See note 10)||
||||||||||L||
||Advancing
education||of|the|public|in the appreciation|of new||||
||opera and music theatre|||||||56,385|231,262|287,647|
|9.|DIRECT COSTS OF||CHARITABLE ACTIVITIES||||||||
||||||||||2021|2020|
||||||||||E|f|
||Production
and performance||||||||37,881|460,504|
||Sales and marketing||||||||6,504|62,794|
||Commission
fees||||||||12,000|39,840|
||||||||||56,385|563,138|
##
##
|SUPPORT|CO|STS|||||||
|---|---|---|---|---|---|---|---|---|
|||||Staff and|||||
|||||associated|||Governance||
|||||costs|Other
F|Depreciation
f|costs
f|Totals
f|
|Advancing|education||of|the|||||
|public
in the appreciation||||of|||||
|new opera|and|music|||||||
|theatre||||167,737|55,526|5,769|2,230|231,262|
|NET INCOME/(EXPENDITURE)|||||||||
|Net income/(expenditure)||||is stated after charging/(crediting):|||||
||||||||2021|2020|
||||||||E||
|Depreciation|-|owned|assets||||2,628|2,569|
|Deficit&(surplus)||on disposal offixed asset|||||2,280|(2,844)|
|Independent|examination|||fees|||2,000|2,000|
##
##
|Expenses offNil (20
STAFF COSTS|20:f256)were paid to|one tr|ustee
in the year in respect of t|ravel costs.||
|---|---|---|---|---|---|
|||||2021|2020|
|||||f|E|
|Wages and salaries||||154,065|149,834|
|Social security costs||||8,900|11,158|
|Other pension costs||||3,122|3,263|
|||||166,087|164,255|
|The average
monthly|number ofemployees|during|the year was as follows:|||
|||||2021|2020|
|||||4|5|
##
|||||2020|2020|2020|
|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|
|||||funds|funds|funds|
|||||E|E||
|INCOME AND ENDOWMENTS|FROM||||||
|Donations
and legacies||||248,293|146,046|394,339|
|Other trading
activities||||81,189|113,335|194,524|
|Investment
income||||129||129|
|Other income||||62,580||62,580|
|Total||||392,191|259,381|651,572|
|EXPENDITURE ON|||||||
|Raising funds||||6,125||6,125|
|Charitable
activities|||||||
|Advancing
education
of the public||in the appreciation|ofnew||||
|opera and music theatre||||271,708|540,984|812,692|
|Total||||277,833|540,984|818,817|
|NET INCOME/{EXPENDITURE)||||114,358|(281,603)|(167,245)|
|Transfers
between
funds||||~337.064)|337.064||
|Net movement
in funds||||(222,706)|55,461|(167,245)|
|RECONCILIATION
OF FUNDS|||||||
|Total funds brought forward||||320,570|23,433|344,003|
|TOTAL FUNDS CARRIED FORWARD||||97,864|78,894|176,758|
##
##
##
|15.|TANGIBLE FIXEDA|SS|E|TS|||||||
|---|---|---|---|---|---|---|---|---|---|---|
||||||Instruments||||||
||||||and||Fixtures|and|Office||
||||||accessories||fittings||equipment|Totals|
||||||E||E||E|E|
||COST||||||||||
||At 1 April 2020||||46,614||4,368||12,9?9|63,961|
||Additions|||||||674|2,378|3,052|
||Disposals||||~46,614)||~4,368)||L11,880055)|~62,787)|
||At 31 March 2021|||||||6?4|3,552|4,226|
||DEPRECIATION||||||||||
||At 1 April 2020||||46,614||2,363||9,346|58,323|
||Charge for year|||||||555|2,073|2,628|
||Eliminated
on disposal||||~46,614)||~2.907)||~10,986)|L60,55007?)|
||At 31 March 2021||||||||433||
||NET BOOK VALUE||||||||||
||At 31 March 2021||||||663||3,119|3,782|
||At 31 March 2020||||||2,005||3,633|5,638|
|16.|DEBTORS: AINOUNTS||FALLING DUE WITHIN||ONE YEAR||||||
||||||||||2021|2020|
||Trade debtors|||||||||55,771|
||Other debtors||||||||3,230|1,792|
||VAT||||||||7,985|19,663|
||Prepayments
and accrued|||income|||||62,609|13,722|
||||||||||73,824|90,948|
|17.|CREDITORS: AMOUNTS|||FALLING DUE WITHIN ONE YEAR|||||||
||||||||||2021|2020|
||||||||||f|F|
||Accruals and deferred|income|||||||8,142|8,473|
|18.|LEASING AGREEMENTS||||||||||
||Minimum
lease payments|||under non-cancellable|operating|leases|fall due as follows:||||
||||||||||2021|2020|
||||||||||E|F|
||Within one year||||||||1,948|13,448|
||Between one and five|years|||||||2,533|34,981|
||||||||||4,481|48,429|
##
|||||Net movement|Transfers||
|---|---|---|---|---|---|---|
||||At1/4/20|in funds|between
funds|At 31/3/21|
||||E|E|E|E|
|Unrestricted|funds||||||
|General
fund|||37,864|69,409|(7,316)|99,957|
|Designated
contingency||fund|60,000|||60,000|
||||97,864|69,409|(7,316)|159,957|
|Restricted funds|||||||
|Violet by Tom Coult
Denis &Katya Outreach|||77,359
1,535|2,119
~8,851)|7,316|79,478|
||||78,894|(6,732)|7,316|79,478|
|TOTAL FUNDS|||176,758|62,677||239,435|
|Net movement|in funds,|included|in the above are as follows:||||
|||||Incoming|Resources|Movement
in|
|||||resources|expended|funds|
|||||E|F|E|
|Unrestricted|funds||||||
|General fund||||316,983|(247,574)|69,409|
|Restricted funds|||||||
|Violet by Tom
Denis & Katya|Coult
Outreach|||32,469
872|(30,350)
~9,723)|2,119
~8,851)|
|||||33,341|(40,073)|(6,732)|
|TOTAL FUNDS||||350,324|)287,647)|62,677|
##
|Comparativ|es|for move|ment
in funds|||||
|---|---|---|---|---|---|---|---|
||||||Net movement|Transfers||
|||||At 1/4/19|in funds|between
funds|At 31/3/20|
|||||E|E|C|E|
|Unrestricted||Funds||||||
|General fund||||260,570|114,358|(337,064)|37,864|
|Designated|contingency||fund|60,000|||60,000|
|||||320,570|114,358|(337,064)|97,864|
|Restricted|Funds|||||||
|Violet by Tom||Coult||23,433|53,926||77,359|
|Intelligence|Park||||(232,997)|232,997||
|Denis & Katya|||||(104,067)|104,067||
|Denis & Katya||Outreach|||1,535||1,535|
|||||23,433|(281,603)|337,064|78,894|
|TOTAL FUNDS||||344,003|)167.245)||176,758|
##
##
##