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2022-03-31-accounts

Registered number: 02408067 Charity number: 1042968

Theatre Porto Ltd

INDEPENDENTLY EXAMINED ACCOUNTS

FOR THE YEAR ENDED 31/03/2022

Prepared By:

Harvey Guinan LLP Chartered Certified Accountants Unit 17 Mersey House Matchworks Estate, 140 Speke Road Liverpool Merseyside L19 2PH

Theatre Porto Ltd

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31/03/2022

TRUSTEES

Louise Hesketh Charlotte Rachwal Michael Bonsall - Redston (appointed 06/12/2021) Jeremy Grice (resigned 31/07/2021) Jordi Morell (resigned 31/07/2021) Keith Jones Gemma Johnson Janet McKay Debbie Freedman (appointed 25/05/2022) David Lyons Lucy Linford (resigned 09/08/2021) Emma-Louise Parry-Jones Deborah Tomkinson

SECRETARY

Karen Parry (resigned 27/08/2021)

REGISTERED OFFICE

Theatre Porto Stanney Lane Ellesmere Port Cheshire CH65 6QY

COMPANY NUMBER

02408067

CHARITY NUMBER

1042968

BANKERS

Bank of Scotland

INDEPENDENT EXAMINER Julie Guinan FCCA

Harvey Guinan LLP Chartered Certified Accountants Unit 17 Mersey House Matchworks Estate, 140 Speke Road

page 1

Theatre Porto Ltd

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31/03/2022

Liverpool Merseyside L19 2PH

page 2

Theatre Porto Ltd

ACCOUNTS FOR THE YEAR ENDED 31/03/2022

CONTENTS

Page
Report of the Trustees 4
Independent Examiner's Statement 10
Statement of Financial Activities 11
Balance Sheet 12
Cash Flow Statement 13
Notes to the Accounts 14 to 23
Detailed Statement of Financial Activities 24

page 3

Theatre Porto Ltd

FOR THE YEAR ENDED 31/03/2022

TRUSTEES' REPORT

The trustees present their report and accounts for the year ended 31/03/2022

The Trustees intend that this Annual Report also serves as the Statutory Directors' Report. The Directors of the Charitable company (the charity) are its trustees for the purposes of charity law and throughout the report are collectively referred to as the trustees.

Reference and administrative details are provided in the company information section of these accounts at page 1. The financial statements comply with current statutory requirements, the memorandum and articles of association, the Charities Act 2011, the Companies Act 2006 and the statement of recommended practice applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2016).

ARTISTIC DIRECTOR AND TRUSTEES REPORT

OBJECTIVES AND ACTIVITIES

On 8 August 2022, Action Transport Theatre changed its name to Theatre Porto Ltd by special resolution. This report refers to the charitable company by its new name, 'Theatre Porto Ltd'.

Theatre Porto is an international leader in the field of theatre for young people. We provide crucial opportunities for children, young people, schools and local audiences to participate in and engage with high quality theatre in Ellesmere Port, as well as touring our work nationally. As a Town with extremely limited cultural activity and high levels of child poverty and social/economic disadvantage, we employ a number of strategic means to maximise engagement and realise potential. We tackle current affairs through playful and philosophical theatre.

Theatre Porto continues to play a transformative role in the lives of children and young people. As a professional, arts-led theatre company, we provide unique opportunities for local children, young people, schools and audiences to engage with high quality theatre in Ellesmere Port. As a leader in the field, we continue to collaborate to make work which strengthens our regional and national theatre landscape as well as strengthening our position as a cultural asset and social change-maker in Ellesmere Port.

PERFORMANCE AND ACHIEVEMENTS 21/22

Despite the ongoing challenges of the Covid pandemic, Theatre Porto played an important role in Ellesmere Port, adapting organisationally and revising its delivery programme to ensure children, young people and families were able to access quality cultural provision online and in covid safe environments until lockdown was lifted and face to face delivery could resume.

Notably this year the £2.8m capital development project came to completion in March 2022 and the Company returned to the venue for a fit-out period which will enable us to open to the public in August 2022.

page 4

Theatre Porto Ltd

FOR THE YEAR ENDED 31/03/2022

TRUSTEES' REPORT

Our weekly participation programme returned to in-person delivery and was expanded to incorporate additional drama groups and other creative projects in the local community. These remained free for local children and young people. We led on the delivery of a programme of ‘re-opening and recovery' work in partnership with Cheshire West and Chester Council and other Ellesmere Port community partners.

We developed community based events and professional theatre work with highlights including:

Looking ahead, we are proceeding with ambitious plans for our opening programme from August 2022 - December 2022.

After the year end, we were excited to be launching the company new name (Theatre Porto).

STRUCTURE GOVERNANCE AND MANAGEMENT

Status

The charity is a company limited by guarantee and not having a share capital. It was incorporated as a company in England and Wales on 26 July 1989 and registered as a charity in England and Wales on 21 December 1994.

ORGANISATION

The Board set and approve the policy for the Charity. In doing so the trustees give due consideration to guidance issued by the Charity Commission regarding, but not limited to stewardship, risk, public benefit and environmental impact. The Board meet four times each year and in between scheduled meetings as required. The Senior Management and staff are responsible for the delivery of the charity's objectives and the day to day operational management of the Charity.

The Board of Trustees is drawn from relevant professional backgrounds to best support the Charity. Trustees are elected in accordance with the Memorandum and Articles of Association which have recently been reviewed. Trustees are elected for a period of three years and may stand for re election at the end of that period for a further three years. They are then required to stand down for a period of 12 months before rejoining if desired. A comprehensive process of induction involving a transfer of information between the Charity and the prospective board member is in place. Training needs are assessed and addressed annually.

page 5

Theatre Porto Ltd

FOR THE YEAR ENDED 31/03/2022

TRUSTEES' REPORT

TRUSTEES

The names of the present Trustees and all who held office during the year are shown on page 1. No remuneration is paid to any trustee for their services as a trustee and no trustee had a material interest in any of the charity's contracts.

RESPONSIBILITIES OF TRUSTEES

The Charity Trustees (who are also the directors of Theatre Porto for the purposes of company law) are responsible for preparing the annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the charity trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources including the income and expenditure for that period. In preparing the financial statements the trustees are required to:

select suitable accounting policies and then apply them consistently;

observe the methods and principles in the charities SORP;

make judgments and estimates that are reasonable and prudent;

state whether applicable UK accounting standards have been followed subject to any material departures disclosed and explained in the financial statements;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

PAY POLICY FOR SENIOR STAFF

The directors consider the board of directors who are the trustees and the senior management team comprising the artistic director and executive director in charge of directing, controlling, running and operating the Trust on a day to day basis. All directors give of their time freely and no director received remuneration in the year. Details of directors' expenses and related party transactions are disclosed in the notes to the accounts.

The pay of senior staff is reviewed and reflects the level of skill, experience and knowledge for the roles and remuneration levels in the sector.

page 6

Theatre Porto Ltd

FOR THE YEAR ENDED 31/03/2022

TRUSTEES' REPORT

KEY MANAGEMENT PERSONNEL

Senior Managers of Theatre Porto

Artistic Director - Nina Hajiyianni

Executive Director - Caroline Brader

OBJECTIVES AND ACTIVITIES

Principal Activity

The principal activity of the charity in the year under review was that of working with young people, those who work with them and families and carers, towards the creation and presentation of performing arts through the medium of theatre performances, including new writing and workshops .

OBJECTS OF THE CHARITY

The company is established to advance education of the public and in particular young people in the performing arts and the visual arts.

The charity has developed a rolling three year business plan to manage the effective delivery of its aims and objectives. The plan contains strategy for action and explains the policies to be followed to achieve goals. The business plan is reviewed and monitored regularly. Alongside the plan, the Charity has adopted the following policies:

page 7

Theatre Porto Ltd

FOR THE YEAR ENDED 31/03/2022

TRUSTEES' REPORT

INVESTMENT POLICY

Under the Memorandum and Articles of Association the Charity has the power to make any investment which the Trustees see fit.

RELATED PARTIES

The Charity has a close relationship with Arts Council England and Cheshire West and Chester Council, both of whom provide funds for the Charity to carry out its charitable objectives.

ACHIEVEMENTS AND PERFORMANCE

A Summary of the Achievements and Performance is provided in the Artistic Director and Trustees' Report section at the beginning of this Trustees' Report.

VOLUNTEERS

Theatre Porto is very involved in the community and offers volunteering opportunities for skills development.

RISK MANAGEMENT

The charity confirms that its day to day controls, systems and business plans are all continually reviewed and updated to reflect current business conditions and are designed to mitigate risk faced by the charity.

PUBLIC BENEFIT

Theatre Porto advances education and entertainment for members of the public by making theatre that is accessible by all and celebrates, inspires and challenges young people. Whitby Hall is made available and utilised by a diverse range of groups based in the local community.

FINANCIAL REVIEW

Total incoming resources were £594,048 (2021: £449,883). Total resources expended were £387,996 (2021: £296,033) resulting in net incoming resources of £16,933 on the unrestricted fund (2021: £5,473 net incoming resources) and £189,119 on the restricted funds (2021 £148,377). The balance of unrestricted funds is £85,957 (2021: £69,024) at the year end comprising unrestricted general funds of £73,957 (2021 £69,024) and £12,000 (2021 £nil) designated development funds. The balance on the restricted funds at 31 March 2022 was £337,496 (2021 £148,377). Total funds on the balance sheet at 31 March 2022 were £423,453 (2021 £217,401).

page 8

Theatre Porto Ltd

FOR THE YEAR ENDED 31/03/2022

TRUSTEES' REPORT

RESERVES POLICY

The Charity has a policy of maintaining a free reserve (that is those funds not tied up in fixed assets and designated and restricted funds) to provide for financial stability in any future challenging environment. Trustees have a positive attitude to growing reserves. The target reserves figure is 3 months operational costs, based on the predicted turnover for the current financial year (approximately £75,000). Releasing of funds from the reserve must be approved by at least 2 Trustees.

This reserve will be held in a separate account from that of the daily expenditure accounts and reflected in annual accounts.

FIXED ASSETS

Full details of the movements in the company's fixed assets are set out in the notes to the accounts.

EQUAL OPPORTUNITIES

The charity aims to apply equal opportunities at all levels.

POLITICAL CHARITABLE DONATIONS

During the year there were no political or charitable donations made.

AUDIT

This company is exempt from audit under section 477 of the Companies act 2006 and therefore no audit has been carried out.

APPROVAL

The report was prepared in accordance with the special provisions within Part 15 of the Companies Act 2006.

This report was approved by the Board of Trustees on 27/10/2022 and is signed by order of the Board

Gemma Johnson Trustee

page 9

Theatre Porto Ltd

INDEPENDENT EXAMINER'S STATEMENT

FOR THE YEAR ENDED 31/03/2022

I report on the accounts of the charity for the year ended 31/03/2022

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND INDEPENDENT EXAMINER

As the charity's trustees of the Company (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

BASIS OF INDEPENDENT EXAMINERS STATEMENT

Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination, I have followed the Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act.

INDEPENDENT EXAMINERS STATEMENT

The company's gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of ACCA.

I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that:

• accounting records were not kept in accordance with section 386 of the Companies Act 2006; or

• the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Independent Examiner:

Julie Guinan FCCA 27/10/2022

Harvey Guinan, Chartered Certified Accountants, Unit 17 Mersey House, Matchworks Estate, 140 Speke Road, Liverpool, L19 2PH

page 10

Theatre Porto Ltd

Statement of Financial Activities for the year ended 31/03/2022

Income
Income from generated funds
Donations and legacies
Income from charitable activities
Total Income
Expenses
Costs of generating funds
Expenditure on Charitable activities
Total Expenses
Net Income
Net movement in funds:
Net income for the year
Total funds brought forward
Net funds carried forward		 Unrestricted
funds
£
-
178,654
178,654
161,721
161,721
16,933
16,933
69,024
85,957		 Restricted
funds
£
-
415,394
415,394
226,275
226,275
189,119
189,119
148,377
337,496		 2022
Total
£
-
594,048
594,048
387,996
387,996
206,052
206,052
217,401
423,453		 2021
Total
£
48,798
401,085
449,883
296,033
296,033
153,850
153,850
63,551
217,401

This statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities

page 11

Theatre Porto Ltd 2021
£
2,390
215,011
BALANCE SHEET AT 31/03/2022
Notes
FIXED ASSETS
Tangible assets
4
CURRENT ASSETS
Stock
Debtors (amounts falling due within one year)
6
Cash at bank and in hand
CREDITORS: Amounts falling due within one year
7
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
RESERVES
Unrestricted funds
9
General fund
Designated funds
Restricted funds
10		 -
24,953
257,746
282,699
196,310		 2022
£
337,064
86,389
423,453
73,957
12,000
337,496
423,453		 300
77,642
212,912
290,854
75,843
217,401
69,024
-
148,377
217,401

For the year ending 31/03/2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the board of trustees on 27/10/2022 and signed on their behalf by

.............................

Gemma Johnson Trustee

page 12

Theatre Porto Ltd

CASH FLOW FOR THE YEAR ENDED 31/03/2022

Notes
NET CASH INFLOW FROM OPERATING ACTIVITIES
20a
CAPITAL EXPENDITURE AND FINANCIAL INVESTMENT
Payments to acquire tangible assets
Net cash inflow from capital expenditure and financial investment
NET CASH INFLOW BEFORE FINANCING
FINANCING
INCREASE IN CASH		 (336,703) 2022
£
381,537
(336,703)
44,834
44,834

page 13

Theatre Porto Ltd

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31/03/2022

1. ACCOUNTING POLICIES

1a. Basis Of Accounting

The accounts have been prepared under the historical cost convention.

The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.

1b. Incoming Resources

All Incoming Resources are included on the Statement of Financial Activities when the charity is legally entitled to the Income and the amount can be quantified with reasonable accuracy.

1c. Resources Expended

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources.

1d. Allocation And Apportionment Of Costs

All costs relate to the single activity of the charitable company and are recognised accordingly.

1e. Fund Accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Designated funds are funds set aside by the trustees out of unrestricted general funds for specific future purposes or projects.

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Theatre Porto Ltd

1f. Depreciation

Fixed assets are shown at historical cost.

Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.

Equipment additions relate to the creation of a theatre space in Whitby Hall, Ellesmere Port in 2021/22 that was completed and opened in August 2022. No depreciation has been charged on the theatre space as at the year end 31 March 2022 as the space was not finished at that date.

Fixtures And Fittings

straight line 16.67 to 33.33 %

1g. Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.

1h. Pension Costs

The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.

1i. Turnover

Turnover represents the invoiced value of goods and services supplied by the company, including revenue grants.

1j. Leasing Commitments

Rentals payable under operating leases are charged to the income and expenditure account on a straight-line basis over the term of the lease. Incentives received to enter into a lease agreement are recognised in the profit and loss account over the shorter of the lease term and the period to the next lease review.

1k. Policy For Financial Instruments

The charity has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initally recognised at transaction value and subsequently measured at their settlement value.

Incentives received to enter into a lease agreement are recognised in the profit and loss account over the shorter of the lease term and the period to the next lease review.

1l. Policy For Debtors

Trade and other debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid after taking account of any discount due.

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Theatre Porto Ltd

1m. Policy For Cash At Bank And In Hand

Cash at the bank and in hand includes cash and short term liquid investments with a short maturity of three months or less form the date of acquisition or opening of the deposit or similar account.

1n. Policy For Creditors And Provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement value amount after allowing for any discount due.

1o. Policy For Interest Receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

1p. Policy For Going Concern

Covid-19 had an effect on Theatre Porto. Some of our employees were furloughed and we applied for funding through the Coronavirus Job Retention Scheme. During Covid restrictions the charity has continued to operate working remotely due to available technology and working practices and when restrictions were lifted we resumed face-to-face and normal activity. At the time of approving the accounts and as detailed in the Trustees' report the Trustees have considered the impact of Covid-19 on the charity and the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the Trustees continue to adopt the going concern basis of accounting in preparing the accounts.

2. DIRECTORS AND EMPLOYEES

Particulars of employees (including directors) are shown below:

Employee costs during the year amounted to:
Wages and salaries
Social security costs
Pension costs		 2022
£
151,643
9,719
6,877
168,239		 2021
£
139,648
8,506
5,967
154,121

No director of the board, being also a Trustee, received any remuneration for their services as a Trustee. No director had any interest in any of the company's contracts during the year.

There were 6 employees during the year (2021 - 6).

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Theatre Porto Ltd

3. PENSION CONTRIBUTIONS

Pension contributions

2022
£
6,877
6,877		 2021
£
5,967
5,967

4. TANGIBLE FIXED ASSETS

Cost
At 01/04/2021
Additions
At 31/03/2022
Depreciation
At 01/04/2021
For the year
At 31/03/2022
Net Book Amounts
At 31/03/2022
At 31/03/2021
5. STOCK
Stock comprises:
Stock - Consumables and Stationery		 Commercial
Vehicles
£
29,695
-
29,695
29,695
-
29,695
-
-		 Fixtures
and
Fittings
£
28,840
-
28,840
26,450
2,029
28,479
361
2,390		 Fixtures
and
Fittings
£
28,840
-
28,840
26,450
2,029
28,479
361
2,390		 Equipment
£
-
336,703
336,703
-
-
-
336,703
-
2022
£
-
-		 Total
£
58,535
336,703
395,238
56,145
2,029
58,174
337,064
2,390
2021
£
300
300

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Theatre Porto Ltd

6. DEBTORS
Amounts falling due within one year:
Trade debtors
Other debtors
Included in Debtors is £0 in respect of a claim for Theatre Relief (2021 £4,427).
Included in other debtors are prepaid capital costs of £0 (2021 £59,527) for future installation.		 2022
£
23,738
1,215
24,953		 2021
£
17,565
60,077
77,642

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Taxation and social security
Other creditors		 2022
£
-
3,249
193,061
196,310		 2021
£
2,716
-
73,127
75,843

Included in other creditors is £172,394 (2021 £36,560) deferred income being income received in advance of spend in 2022-2023. See deferred income note 12.

8. LIMITED BY GUARANTEE

The company is limited by guarantee and does not have a share capital. Each member gives a guarantee to contribute a sum not exceeding £1, to the company should it be wound up. At 31/03/2022 there were 10 members.

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Theatre Porto Ltd

9. UNRESTRICTED FUNDS

General fund
Designated Development fund		 Brought
forward
£
69,024
-
69,024		 Incoming
resources
£
178,654
-
178,654		 Outgoing
resources
£
(161,721)
-
(161,721)		 Transfers
£
(12,000)
12,000
-		 Carried
forward
£
73,957
12,000
85,957

10. RESTRICTED FUNDS

Arts Council England Small Scale Capital
Arts Council England Kickstart Grant
Esmee Fairbairn Foundation
Garfield Weston Foundation
Arts Council England Project Grants
Westminster Foundation
Cheshire West and Chester Council Annual Grant
MBNA Foundation
Chester Bluecoat Funding
Lottery Awards for All
HAF Programme		 Brought
forward
£
61,977
-
45,000
16,400
-
25,000
-
-
-
-
-
148,377		 Incoming
resources
£
207,491
74,228
333
-
28,300
-
74,000
11,500
14,000
2,042
3,500
415,394		 Outgoing
resources
£
-
(6,200)
(45,333)
(16,400)
(28,300)
(25,000)
(74,000)
(11,500)
(14,000)
(2,042)
(3,500)
(226,275)		 Transfers
£
-
-
-
-
-
-
-
-
-
-
-
-		 Carried
forward
£
269,468
68,028
-
-
-
-
-
-
-
-
-
337,496

Arts Council England Small Scale Capital

Funds for redevelopment costs, theatre equipment, and the creation of a theatre space

Arts Council England Kickstart Grant

Funds for capital equipment, resources, and the creation of a theatre space

Esmee Fairbairn Foundation

Funds for Salary

Garfield Weston Foundation

Funds for Participation Projects with young people

Arts Council England Project Grants

Funds for creative theatre projects

Westminster Foundation

Funds For Drama Drop In Programme

Cheshire West and Chester Council Annual Grant

Funds for Core Activity

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Theatre Porto Ltd

10. RESTRICTED FUNDS

MBNA Foundation

Project grants

Chester Bluecoat Funding

Funds for the Wednesday club

Lottery Awards for All

Project grants

HAF Programme

Funding for holiday activities

11. RELATED PARTY TRANSACTIONS

The aggregate remuneration of key personnel was £69,121 (2021 £64,197).

12. DEFERRED INCOME

When
Another		 Cheshire Awards Function
and		 Police
Crime
Libraries Dragon Westminster Esmee West
and		 For Curious Arts Trail Commission
Fund and		 Chester
Total Project Roars Foundation Fairbairn Chester
Council		 All Minds Donations Crossed
Lines		 Bluecoat
Funds in
Advance
At 1 April
2021		 36,560 1,000 1,106 - 15,000 - - - 5,204 3,000 11,250
Released to
Income & (33,560) (1,000) (1,106) - (15,000) - - - (5,204) - (11,250)
Expenditure
Income
received in
Advance in		 169,394 - - 41,840 49,500 13,000 7,458 33,000 11,346 1,000 12,250
Year
----------
--------- --------- --------- ----------- ----------- ----------- ---------- --------- ----------- -----------
-
At 31 March
2022		 172,394 - - 41,840 49,500 13,000 7,458 33,000 11,346 4,000 12,250
===== ===== ===== ====== ===== ===== ===== ===== ===== ===== =====

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Theatre Porto Ltd

13. GENERAL INFORMATION

Theatre Porto Ltd (formerly Action Transport Theatre until 8 August 2022 on changing name) is a private company limited by guarantee, with charitable status and incorporated in England. Its registered office is Theatre Porto, Stanney Lane, Ellesmore Port, Cheshire, England, CH65 6QY. The financial statements are presented in Sterling which is the functional currency of the company.

14. INCOME FROM CHARITABLE ACTIVITIES

The income from charitable activities is attributable to that of working with young people, those who work with them and families and carers, towards the creation and presentation of performing arts through the medium of theatre performances, including new writing and workshops.

2022 2021
Cheshire West & Chester Council Core Grant including reopening and recovery 74,000 25,000
Arts Council England NPO Funding 122,917 122,917
Garfield Weston Foundation - 30,000
Postcode Community Trust - 6,350
Westminster Foundation - 32,500
Esme Fairbairn 15,333 78,168
Chester Bluecoat 14,000 3,750
Voluntary Sundry Income and Donations 12,500 14,083
Project Income (2022 MBNA Foundation and HAF Programme) 15,000 13,368
Services: Workshops and Education, Equipment Hire, Venue Hire and Box Office 24,032 600
Big Lottery Awards for All (2022) / Edsential (2021) 2,042 7,080
Theatre Relief - 4,974
Professional /Visiting Productions 850 500
Cheshire Community Foundation - 5,801
Other Income Furlough Grants (CJRS) 3,355 34,715
ACE Small Scale Capital and ACE Kickstart 281,719 70,077
ACE Project Grants 28,300 -
___ ___
594,048 449,883

15. CORPORATION TAXATION

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

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Theatre Porto Ltd

16. ALLOCATION OF NET ASSETS

The net assets are held for the various funds as follows:

Fixed
Assets		 Net
Current
Assets		 Total
Unrestricted Funds - 85,957 85,957
Restricted Funds 337,064 432 337,496
------------ ------------ ------------
337,064 86,389 423,453
======= ======= =======

17. RESOURCES EXPENDED

Cost of Operating a Young People's Theatre Company

Organisational Support Costs include establishment and Office Administration Costs

Direct Project Costs 2022 2021
Production, Publicity,Touring & Storage costs 153,735 104,337
Support Costs
Staff including Contractors 186,566 173,924
Organisational Support 44,957 15,612
----------- -----------
Costs of Charitable Activity 385,258 298,873
======= =======
Governance Costs
Accountancy - Independent Examination 2,100 2,160
Away Day Costs 638 -
--------- ---------
2,738 2,160
======= =======
Total Resources Expended 387,996 296,033
======= =======

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Theatre Porto Ltd

18. OPERATING LEASE COMMITMENTS

The annual commitments under operating leases are analysed according to the period in which each lease expires as shown below:

The Charity had a 25 year lease on the premises it occupied from 2004 at nil rent with service charges payable. In 2020-2021 the charity vacated those premises now subject to capital development by the local authority. The charity currently occupies the premises under a tenancy at will agreement while a new lease and service charge is being negotiated.

2022 2021
Within One Year - -
======= =======
Between two and Five Years - -
======= =======
After Five Years - -
======= =======

19. TRANSACTIONS WITH DIRECTORS

The Charity has met individual travel and subsistence expenses totalling £nil in the year (2021:£nil) incurred by Trustees in attending Board, Committee and other meetings.

20. NOTES TO THE CASHFLOW STATEMENT

20a. Reconciliation of operating profit to net cash flow from operating activities

Operating profit
Depreciation of tangible assets
Decrease in stocks
Decrease in debtors
Increase in creditors
Net cash inflow from operating activities		 £
206,052
2,029
300
52,689
120,467
381,537

20b. Analysis of changes in cash and cash equivalents during the year

2022 2021
£ £
Balance at 01/04/2021 212,912 144,560
Net cash inflow 44,834 68,352
Balance at 31/03/2022 257,746 212,912
20c. Analysis of changes in financing year
Loans and
Share finance
Capital lease
obligations
£ £

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Theatre Porto Ltd

Incoming Resources
for the year ended 31/03/2022
Incoming resources
Incoming resources from generated funds
Donations
Voluntary Income: Donations
Voluntary Income: Sundry Income
Incoming Resources From Charitable Activity
Cheshire West & Chester Council Core Grant
Arts Council England NPO Funding
Project Income: In Association With
Services: Workshops and Education
Services: Venue Hire and Box Office Split
Services: Resources
Charitable Activity 2
Theatre Relief
Arts Council England Small Scale Capital
Arts Council England Kickstart Grant
Professional Productions
Visiting Productions
Big Lottery Awards For All
Esmee Fairbairn
Cheshire Community Foundation
Postcode Community Trust
Garfield Weston
Westminster Foundation
Chester Bluecoat
Edsential
Arts Council England Project Grants
MBNA Foundation
HAF Programme
Charitable Activity 4
Voluntary Donations
Furlough Grants (CJRS)		 -
-
74,000
122,917
-
23,922
-
110
-
207,491
74,228
-
850
2,042
15,333
-
-
-
-
14,000
-
28,300
11,500
3,500
12,500
3,355		 2022
£
-
-
220,949
357,244
15,855
594,048
594,048		 14,023
34,775
25,000
122,917
13,368
-
600
-
4,974
70,077
-
500
-
-
78,168
5,801
6,350
30,000
32,500
3,750
7,080
-
-
-
-
-		 2021
£
48,798
48,798
161,885
239,200
-
401,085
449,883

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Theatre Porto Ltd

Expenses for the year ended 31/03/2022

Expenses
Costs of generating funds
Charitable Activities
Operation of a Theatre Company For Young People
Organisational Redevelopment Costs
Core Production Costs
Marketing
Associate Artists and Delivery Practitioners
Project Costs: Artists and Practitioners
Project Costs Consultation
Project Costs:Other
Project Costs: Artistic and Cultural Spends
In association Project
Associate Writer
Staff Costs Freelance Communications Manager
Productions
Administration
Health and Safety
Venue Occupancy Costs
Freelancers
Salaries
NIC employer (wages and salaries)
Pension contributions
Recruitment
Training
Maintenance and Subsidies
Computer costs
Motor insurance
Miscellaneous motor expenses
Accountancy fees
Consultancy Fees and Subscriptions
Legal costs (revenue)
Insurance
Hospitality
Postage
Photocopier
Stationery & office supplies
Company Travel
Telephone
Computer Consumables
Subsistence
Subscriptions
Seeing Work
Sundry expenses
Depreciation of fixtures and fittings		 2022
£
(1,500)
-
8,451
-
91,615
4,400
203
33,611
-
-
16,630
230
-
115
16,610
-
151,643
9,719
6,877
-
1,697
732
3,239
533
45
703
19,658
5,236
1,672
515
-
946
1,147
2,253
1,375
-
2,702
2,074
-
98
2,029
385,258		 2021
£
28,100
11,631
4,156
27,535
-
-
-
-
13,368
6,008
-
7,108
125
-
9,246
17,535
139,648
8,506
5,967
807
1,461
-
-
-
-
-
-
-
-
401
534
1,289
713
207
1,280
1,683
-
2,939
50
134
3,442
293,873

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Theatre Porto Ltd

Expenses
for the year ended 31/03/2022
Governance Costs
Away Day Costs
Accountancy - Governance Cost		 2022
638
2,100
2,738
387,996		 2021
-
2,160
2,160
296,033

page 26