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:
- Baba Yaga – a children's theatre co-production with Theatre Hullabaloo
- A programme of outdoor recovery events including music and circus performances in civic space such as the marketplace and the park's
- amphitheatre
- The Arts Trail and Extravaganza weekend in Whitby Park in August 2021 – attended by 5000 visitors
- Oh yes we can – a pantomime created with Adults with Learning Disabilities in January 2022
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:
- Artistic policy
- Equality Policy and Plan
- Safeguarding Policy and Procedures
- Health and safety policy
- Financial controls
- Environmental and Sustainability Policy and Plan
- Audience Development and Engagement Strategy
- Fundraising Strategy
- Data Protection Policy and Plan
- Whitby Hall Programming Policy
page 7
**Theatre Porto Ltd**
## **FOR THE YEAR ENDED 31/03/2022**
## **TRUSTEES' REPORT**
- IT Access Policy
## 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 accord with such records; 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
- •the accounts have not been prepared in accordance with the Charities SORP (FRS102).
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.
page 14
## **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.
page 15
**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).
page 16
## **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_|
page 17
## **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.
page 18
## **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
page 19
## **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|
||=====|=====|=====|======|=====|=====|=====|=====|=====|=====|=====|
page 20
**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.
page 21
## **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|
||=======|=======|
page 22
**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**|
||£||_£_|
page 23
## **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_|
|---|---|---|---|---|
page 24
## **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_|
page 25
## **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