2023-03-31-accounts - Music Theatre Wales

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					2023	2022
			Unrestricted	Restricted	Total	Total
		Notes	funds f	funds f	funds f	fundsf
INCOME AND ENDOWMENTS	FROM
Donations and legacies		3	243,082	17,542	260,624	247,112
Other trading activities		4	42,145		42,145	24
Investment income		5	509		509	25
Total			285,736	17,542	303,278	247,161
EXPENDITURE ON
Charitable activities
Advancing education ofthe public in the
appreciation of new opera and	music theatre		259,176	79,393	338,569	177,646
NET INCOME/(EXPENDITURE)			26,560	(61,851)	(35,291)	69,515
RECONCILIATION OF FUNDS
Total funds brought forward			247,099	61,851	308,950	239,435
TOTAL FUNDS CARRIED FORWARD			273,659		273,659	306,950

Fixed assets	are initially recorded at cos	t, including the estima	ted cost ofany donated assets.
Depreciation	is provided at the following	annual rates in order	to write offeach asset over its useful economic life.
Instruments	and accessories	-20% on a straight	line basis
Fixtures and	fittings	-20% on a straight	line basis
Office equipment		-20%on a straight	line basis

3.	DONATIONS AND LEGACIES	DONATIONS AND LEGACIES	DONATIONS AND LEGACIES	DONATIONS AND LEGACIES
						2023	2022
						F	F
	Donations					1,055	4,270
	Grants					259,569	242,842
						260,624	247,112
	Grants received,	included		in the above, are as follows:
						2023	2022
						E
	Arts Council ofWales					231,627	221,342
	Garfield Weston	Foundation				10,000
	The Foyle Foundation						20,000
	RVW Trust					2,000
	PRS Foundation					2,500
	Other					400
	Ernst von Siemens Music			Foundation		5,042
	Ty Cerdd					2,750	1,500
	Anthem Music Fund					5,250
						259,569	242,842
4.	OTHER TRADING ACTIVITIES
						2023	2022
						E	F
	Other earned income					42,145	24
5.	INVESTMENT INCOME
						2023f	2022
	Deposit account	interest				509	25
6.	CHARITABLE ACTIVITIES COSTS
					Direct	Support
					Costs (see	costs (see
					note 7)	note 8)	Totals
	Advancing education		ofthe public in the
	appreciation ofnew opera			and music
	theatre				223,315	115,254	338,569

								2023 f	2022f
Production		and performance						202,864	47,676
Sales and	marketing							14,577	18,479
Commission		fees						5,874	4,756
								223,315	70,911
SUPPORT		COSTS
						Staff and
						associated		Governance
						costs f	Other f	costs f	Totals f
Advancing	education		ofthe public		in the
appreciation		of new opera and music theatre				95,710	16,990	2,554	115,254
NET INCOME/(EXPENDITURE)
Net income/(expenditure)				is stated	after charging/(crediting):
								2023	2022
								f
Depreciation		- owned	assets						845
Deficit on disposal of			fixed assets						2,937
Independent		examination		fees				2,000	2,000


12.	COMPARATIVES FOR	THE STATEMENT OF				FINANCIAL ACTIVITIES
							Unrestricted			Restricted	Total
							funds f			funds f	fundsf
	INCOME AND ENDOWMENTS			FROM
	Donations and legacies						225,612			21,500	247,112
	Other trading activities								24		24
	Investment income								25		25
	Total						225,661			21,500	247,161
	EXPENDITURE ON
	Charitable activities
	Advancing education ofthe public				in the
	appreciation ofnew opera		and music theatre				138,519			39,127	177,646
	NET INCOME/(EXPENDITURE)						87,142			(17,627)	69,515
	RECONCILIATION OF FUNDS
	Total funds brought forward						159,957			79,478	239,435
	TOTAL FUNDS CARRIED		FORWARD				247,099			61,851	308,950
13.	DEBTORS:AMOUNTS FALLING				DUE WITHIN	ONE YEAR
										2023 f	2022 f
	VAT									3,639	6,888
	Prepayments and accrued		income							2,370	9,891
										6,009	16,779
14.	CREDITORS: AMOUNTS		FALLING DUE WITHIN ONE YEAR
										2023 f	2022 f
	Accruals and deferred income									5,424	4,097
15.	LEASING AGREEMENTS
	Minimum lease payments	under non-cancellable				operating	leases fall due	as	follows:
										2023	2022
	Within one year									1,658	1,948
	Between one and five years										1,085
										1,658	3,033

MOVEMENT IN FUNDS
				Net	Transfers
				movement	between	At
			At 1/4/22 f	in funds f	funds f	31/3/23 f
Unrestricted funds
General fund			97,099	94,660	(108,100)	83,659
Designated fund - contingency			60,000			60,000
Designated fund - Violet	by Tom	Coult	90,000	(68,100)	(21,900)
Designated fund —Prosser Rhys		—Atgof			25,000	25,000
Designated fund —Street Art Opera					75,000	75,000
Designated fund —Yasuke —commission					30,000	30,000
and creative fees
			247,099	26,560		273,659
Restricted funds
Violet by Tom Coult			50,639	(50,639)
Future Directions			11,212	~11,212)
			61,851	~61.851)
TOTAL FUNDS			308,950	~35,291)		273,659
Net movement in funds,	included	in the above are as follows:
				Incoming	Resources	Movement
				resources f	expended	in funds
Unrestricted funds
General fund				285,736	(191,076)	94,660
Designated fund - Violet	by Tom	Coult			~68.100)	~68.100)
				285,736	(259,176)	26,560
Restricted funds
Violet by Tom Coult				9,542	(60,181)	(50,639)
Future Directions				8,000	~19,212)	~11,212)
				17,542	~79,393	~67,851
TOTAL FUNDS				303,278	~338,569)	~35.291)

Comparatives for movement in funds
		Net	Transfers
		movement	between	At
	At 1/4/21 f	in funds f	funds	31/3/22
Unrestricted funds
General fund	99,957	87,142	(90,000)	97,099
Designated fund - contingency	60,000			60,000
Designated fund - Violet by Tom Coult			90,000	90,000
	159,957	87,142		247,099
Restricted funds
Violet by Tom Coult	79,478	(28,839)		50,639
Future Directions		11,212		11,212
	79,478	17,627		61 851
TOTAL FUNDS	239,435	69,515		308,950