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2023-03-31-accounts

Registered number: 02408067 Charity number: 1042968

Theatre Porto Ltd

INDEPENDENTLY EXAMINED ACCOUNTS FOR THE YEAR ENDED 31/03/2023

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 31/03/2023

TRUSTEES

Louise Hesketh Charlotte Rachwal Michael Bonsall - Redston Debbie Tomkinson Emma-Louise Parry-Jones Keith Jones Gemma Johnson Janet Dunn Debbie Freedman (resigned 08/03/2023) David Lyons (resigned 09/12/2022) Charlotte Bholer (appointed 15/05/2023) Mathew Jayne (appointed 15/05/2023) Clive Marshall (appointed 15/05/2023) Karen O'Neill (appointed 15/05/2023)

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

page 1

Theatre Porto Ltd

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31/03/2023

Matchworks Estate, 140 Speke Road Liverpool Merseyside L19 2PH

page 2

Theatre Porto Ltd

ACCOUNTS FOR THE YEAR ENDED 31/03/2023

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 26
Detailed Statement of Financial Activities 27

page 3

Theatre Porto Ltd

FOR THE YEAR ENDED 31/03/2023

TRUSTEES' REPORT

The trustees present their report and accounts for the year ended 31/03/2023

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

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 22/23

Theatre Porto continued to play an important role in Ellesmere Port, using the opening of the newly refurbished venue in August 2022 to add great value to the town and to our delivery programme, ensuring children, young people and families were able to access quality cultural provision.

Our weekly participation programme was consistently oversubscribed and was further expanded to incorporate additional drama groups and other creative projects in the local community. These remained free for local children and young people.

We developed a community programme at the new venue , Warm and Toasty, that responded to the cost-of-living crisis and supported families in need with free creative activity, warm space and free food.

page 4

Theatre Porto Ltd

FOR THE YEAR ENDED 31/03/2023

TRUSTEES' REPORT

We relaunched and delivered our relaxed family film club and introduced a new NTlive programme.

We produced professional theatre work with highlights including: -

Star of Wonder – 2,500 people came to see our festive and inclusive children's theatre co-production with Teatro Pomodoro

and

Atom and Luna with Funnelwick Limb and Eastern Angles, an epic fairytale, written by Murray Lachlan Young which toured nationally.

We again delivered a programme of free outdoor events including the Once Upon a Time trail and Extravaganza weekend in Whitby Park in August 2022 – attended by 5,000 visitors.

We provided valuable resources to the community through the provision of subsidised venue hires and the new community cafe.

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.

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.

page 5

Theatre Porto Ltd

FOR THE YEAR ENDED 31/03/2023

TRUSTEES' REPORT

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.

KEY MANAGEMENT PERSONNEL

Senior Managers of Theatre Porto

Artistic Director - Nina Hajiyianni

page 6

Theatre Porto Ltd

FOR THE YEAR ENDED 31/03/2023

TRUSTEES' REPORT

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:

INVESTMENT POLICY

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

page 7

Theatre Porto Ltd

FOR THE YEAR ENDED 31/03/2023

TRUSTEES' REPORT

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 £591,933 (2022: £594,048). Total resources expended were £509,854 (2022: £387,996) resulting in net incoming resources of £4,451 on the unrestricted fund (2022: £16,933 net incoming resources) and £77,628 on the restricted funds (2022 £189,119). The balance of unrestricted funds is £90,408 (2022: £85,957) at the year end comprising unrestricted general funds of £78,408 (2022 £73,957) and £12,000 (2022 £12,000) designated development funds. The balance on the restricted funds at 31 March 2023 was £415,124 (2022 £337,496). Total funds on the balance sheet at 31 March 2023 were £505,532 (2022 £423,453).

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.

page 8

Theatre Porto Ltd

FOR THE YEAR ENDED 31/03/2023

TRUSTEES' REPORT

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 06/11/2023 and is signed by order of the Board

Janet Dunn Trustee

page 9

Theatre Porto Ltd

INDEPENDENT EXAMINER'S STATEMENT

FOR THE YEAR ENDED 31/03/2023

I report on the accounts of the charity for the year ended 31/03/2023

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:

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 31/03/2023

Income
Income from generated funds
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
£
186,610
186,610
182,159
182,159
4,451
4,451
85,957
90,408		 Restricted
funds
£
405,323
405,323
327,695
327,695
77,628
77,628
337,496
415,124		 2023
Total
£
591,933
591,933
509,854
509,854
82,079
82,079
423,453
505,532		 2022
Total
£
594,048
594,048
387,996
387,996
206,052
206,052
217,401
423,453

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

BALANCE SHEET AT 31/03/2023

Notes
FIXED ASSETS
Tangible assets
4
CURRENT ASSETS
Debtors (amounts falling due within one year)
5
Cash at bank and in hand
CREDITORS: Amounts falling due within one year
6
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
RESERVES
Unrestricted funds
8
General fund
Designated funds
Restricted funds
9		 63,302
109,723
173,025
83,815		 2023
£
416,322
89,210
505,532
78,408
12,000
415,124
505,532		 24,953
257,746
282,699
196,310		 2022
£
337,064
86,389
423,453
73,957
12,000
337,496
423,453

For the year ending 31/03/2023 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 06/11/2023 and signed on their behalf by

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

Janet Dunn Trustee

Type text here

page 12

Theatre Porto Ltd

CASH FLOW FOR THE YEAR ENDED 31/03/2023

Notes
NET CASH OUTFLOW FROM OPERATING ACTIVITIES
19a
CAPITAL EXPENDITURE AND FINANCIAL INVESTMENT
Receipts from sale of tangible assets
Payments to acquire tangible assets
Net cash inflow from capital expenditure and financial investment
NET CASH OUTFLOW BEFORE FINANCING
FINANCING
DECREASE IN CASH		 29,695
(125,877)		 2023
£
(22,146)
(96,182)
(118,328)
(118,328)

page 13

Theatre Porto Ltd

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31/03/2023

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 %
Equipment straight line 50 %

1g. 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.

1h. Turnover

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

1i. 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.

1j. 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.

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Theatre Porto Ltd

1k. 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.

1l. 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.

1m. 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.

1n. 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.

1o. Policy For Going Concern

At the time of approving the financial statements 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 financial statements.

page 16

Theatre Porto Ltd

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		 2023
£
217,317
12,745
6,945
237,007		 2022
£
151,643
9,719
6,877
168,239

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 10 employees during the year (2022 - 6).

3. PENSION CONTRIBUTIONS

3. PENSION CONTRIBUTIONS
Pension contributions 2023
£
6,945
6,945		 2022
£
6,877
6,877

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Theatre Porto Ltd

4. TANGIBLE FIXED ASSETS

Cost
At 01/04/2022
Additions
Disposals
At 31/03/2023
Depreciation
At 01/04/2022
Disposals
For the year
At 31/03/2023
Net Book Amounts
At 31/03/2023
At 31/03/2022
5. DEBTORS
Amounts falling due within one year:
Trade debtors
Other debtors		 Commercial
Vehicles
£
29,695
-
(29,695)
-
29,695
(29,695)
-
-
-
-		 Fixtures
and
Fittings
Equipment
£
£
28,840
336,703
1,559
124,318
-
-
30,399
461,021
28,479
-
-
-
517
46,102
28,996
46,102
1,403
414,919
361
336,703
2023
£
61,262
2,040
63,302		 Total
£
395,238
125,877
(29,695)
491,420
58,174
(29,695)
46,619
75,098
416,322
337,064
2022
£
23,738
1,215
24,953

Included in Debtors is £7,297 in respect of a claim for Theatre Relief (2022 £nil).

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Theatre Porto Ltd

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Taxation and social security
Other creditors		 2023
£
8,926
-
74,889
83,815		 2022
£
-
3,249
193,061
196,310

Included in other creditors is £66,032 (2022 £172,394) deferred income being income received in advance of spend in 2023-2024. See deferred income note 11.

7. 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 31/03/2023 there were 8 members.

8. UNRESTRICTED FUNDS

General fund
Designated Development fund		 Brought
forward
£
73,957
12,000
85,957		 Incoming
resources
£
186,610
-
186,610		 Outgoing
resources
£
(182,159)
-
(182,159)		 Transfers
£
-
-		 Carried
forward
£
78,408
12,000
90,408
-

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Theatre Porto Ltd

9. RESTRICTED FUNDS

Arts Council England Small Scale Capital
Arts Council England Kickstart Grant
Esmee Fairbairn Foundation
Teatro Pomodoro
Restricted Donations and Sponsorship
Westminster Foundation
Cheshire West and Chester Council Annual Grant
Sundry Capital Grants
Chester Bluecoat Funding
Lottery Awards for All
HAF Programme
Westminster Foundation CoLC
Cheshire West and Chester Project Grant
Small Revenue Project Grants
Curious Minds
Cheshire Community Foundation
Cheshire West Voluntary Community Fund		 Brought
forward
£
269,468
68,028
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
337,496		 Incoming
resources
£
110,680
-
46,000
15,000
19,497
47,250
25,000
13,050
15,000
7,458
5,490
17,938
9,000
12,240
52,000
7,725
1,995
405,323		 Outgoing
resources
£
(38,078)
(6,720)
(46,000)
(15,000)
(19,497)
(47,250)
(25,000)
(1,304)
(15,000)
(7,458)
(5,490)
(17,938)
(9,000)
(12,240)
(52,000)
(7,725)
(1,995)
(327,695)		 Transfers
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Carried
forward
£
342,070
61,308
-
-
-
-
-
11,746
-
-
-
-
-
-
-
-
-
415,124

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

Teatro Pomodoro

Funds for Star of Wonder

Restricted Donations and Sponsorship

Funds forArts Trail and Christmas Dinner

Westminster Foundation

Funds For Drama Drop In Programme

Cheshire West and Chester Council Annual Grant

Funds for Core Activity

Sundry Capital Grants

Funds for Capital Equipment

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Theatre Porto Ltd

Chester Bluecoat Funding

Funds for the Wednesday club

Lottery Awards for All Project grants

HAF Programme

Funding for holiday activities

Westminster Foundation CoLC

Funds for CoLC Delivery

Cheshire West and Chester Project Grant Project funds for Arts Trail

Small Revenue Project Grants

Funds for community arts projects

Curious Minds

Funds for Cultural Learning Exchange project

Cheshire Community Foundation

Funds for young writers project

Cheshire West Voluntary Community Fund

Funds for community arts and support

10. RELATED PARTY TRANSACTIONS

The aggregate remuneration of key personnel was £69,584 (2022 £69,121). No employee received remuneration in excess of £60,000.

page 21

11. DEFERRED INCOME

Theatre Porto Ltd

Cheshire Awards Function
and		 Police
Crime
HAF and Westminster Westminster Esmee West
and		 For Curious Arts Trail Commission
Fund and		 Chester
Total Resources CoLC Foundation Fairbairn Chester
Council		 All Minds Donations Crossed
Lines		 Bluecoat
Funds in
Advance
At 1 April
2022		 172,394 - - 41,840 49,500 13,000 7,458 33,000 11,346 4,000 12,250
Released to
Income & (162,772) - - (41,840) (46,000) (13,000) (7,458) (33,000) (9,224) - (12,250)
Expenditure
Income
received in
Advance in		 56,410 2,500 4,660 30,000 - - - 8,000 - - 11,250
Year
--------- --------- --------- ----------- ----------- ----------- ---------- ----------- --------- ----------- -----------
At 31 March
2023		 66,032 2,500 4,660 30,000 3,500 - - 8,000 2,122 4,000 11,250
===== ===== ===== ====== ===== ===== ===== ===== ===== ===== =====

12. 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.

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Theatre Porto Ltd

13. 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.

2023 2022
Cheshire West & Chester Council Core Grant including reopening and recovery 25,000 74,000
Arts Council England NPO Funding 122,917 122,917
Cheshire West & Chester Council Project Grant 9,000 -
Curious Minds 52,000 -
Westminster Foundation including CoLC 65,188 -
Esme Fairbairn 46,000 15,333
Chester Bluecoat 15,000 14,000
Voluntary Sundry Income and Donations 13,805 12,500
HAF Programme 5,490 3,500
Services: Workshops and Education, Equipment Hire, Venue Hire, CJRS Furlough Grants,
Visiting Productions, Cafe Income and Box Office		 49,974 28,237
Big Lottery Awards for All 7,458 2,042
Theatre Relief 10,102 -
Restricted Donations and Sponsorship (MBNA 2022) 38,544 11,500
Cheshire Community Foundation 7,725 -
Sundry Capital Grants 13,050 -
ACE Small Scale Capital and ACE Kickstart 110,680 281,719
ACE Project Grants - 28,300
___ ___
591,933 594,048

14. 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

15. ALLOCATION OF NET ASSETS

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

Fixed
Assets		 Net
Current
Assets		 Total
Unrestricted Funds 1,198 89,210 90,408
Restricted Funds 415,124 - 415,124
------------ ------------ ------------
416,322 89,210 505,532
======= ======= =======

16. RESOURCES EXPENDED

Cost of Operating a Young People's Theatre Company

Organisational Support Costs include establishment and Office Administration Costs

Direct Project Costs 2023 2022
Production, Publicity,Touring & Storage costs 122,474 153,735
Support Costs
Staff including Contractors 258,153 186,566
Organisational Support 127,127 44,957
----------- -----------
Costs of Charitable Activity 507,754 385,258
======= =======
Governance Costs
Accountancy - Independent Examination 2,100 2,100
Away Day Costs - 638
--------- ---------
2,100 2,738
======= =======
Total Resources Expended 509,854 387,996
======= =======

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Theatre Porto Ltd

17. 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.

2023 2022
Within One Year - -
======= =======
Between two and Five Years - -
======= =======
After Five Years - -
======= =======

18. TRANSACTIONS WITH DIRECTORS

The Charity has met individual travel and subsistence expenses totalling £nil in the year (2022:£nil) incurred by Trustees in attending Board, Committee and other meetings.

19. NOTES TO THE CASHFLOW STATEMENT

19a. Reconciliation of operating profit to net cash flow from operating activities

Operating profit
Depreciation of tangible assets
Increase in debtors
Decrease in creditors
Net cash outflow from operating activities		 £
82,079
46,619
(38,349)
(112,495)
(22,146)

19b. Analysis of changes in cash and cash equivalents during the year

Balance at 01/04/2022
Net cash (outflow) / inflow
Balance at 31/03/2023		 2023
£
257,746
(148,023)
109,723		 2022
£
212,912
44,834
257,746

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Theatre Porto Ltd

19c. 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 31/03/2023

Incoming resources
Incoming resources from generated funds
Incoming Resources From Charitable Activity
Cheshire West & Chester Council Core Grant
Arts Council England NPO Funding
Cheshire West & Chester Project Grant
Box Office
Gift Aid Income
Westminster Foundation CoLC Delivery
Vivo Fund
Curious Minds
Cheshire Community Foundation
Cheshire West Voluntary Community Fund
Teatro Pomodoro
Restricted Donations and Sponsorship
Services Income
Hire Income
Services: Resources
Local Authority
Theatre Relief
Arts Council England Small Scale Capital
Arts Council England Kickstart Grant
Visiting Productions
Big Lottery Awards For All
Esmee Fairbairn
Westminster Foundation
Chester Bluecoat
Arts Council England Project Grants
MBNA Foundation
HAF Programme
Sundry Capital Grants
Charitable Activity 3
Cafe Income
Charitable Activity 4
Voluntary Donations
Furlough Grants (CJRS)		 25,000
122,917
9,000
15,548
52
17,938
2,000
52,000
7,725
1,995
15,000
19,497
19,521
7,929
-
10,102
110,680
-
-
7,458
46,000
47,250
15,000
-
-
5,490
13,050
6,976
13,805
-		 2023
£
316,122
255,030
6,976
13,805
591,933
591,933		 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

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Theatre Porto Ltd

2023

2022

Incoming Resources for the year ended 31/03/2023

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Theatre Porto Ltd

Expenses for the year ended 31/03/2023

2023 2022
£ £
Expenses
Costs of generating funds
Charitable Activities
Operation of a Theatre Company For Young People
Organisational Redevelopment Costs - (1,500)
Project Marketing 6,280 8,451
Artists and Creatives 47,689 91,615
Project Costs Consultation - 4,400
Other Project Costs 38,247 203
Project Costs: Artistic and Cultural Spends - 33,611
Other Projects Freelancers 19,086 -
Website Costs 2,177 -
Staff Costs Freelance Communications Manager - 16,630
Production Materials 8,995 230
Health and Safety - 115
Venue and Maintenance 19,220 16,610
Utilities - Gas, Water, Electricity 12,526 -
Salaries 217,317 151,643
NIC employer (wages and salaries) 12,745 9,719
Pension contributions 6,945 6,877
Other Staffing Costs 19,336 -
Training and Recruitment 1,810 1,697
Maintenance and Subsidies - 732
Computer costs - 3,239
Motor insurance - 533
Miscellaneous motor expenses - 45
Accountancy fees 3,416 703
Consultancy Fees and Subscriptions - 19,658
Legal costs (revenue) - 5,236
External Support 9,182 -
Insurance 4,590 1,672
Hospitality - 515
Travel and Seeing Work 1,342 -
Core Marketing & Promotion 7,819 -
~~Photocopier~~ ~~-~~ ~~946~~
Office Expenses page 30 2,463 1,147
Company Travel - 2,253
Utilities Phone and Internet 1,660 1,375
Subsistence - 2,702
Subscriptions - 2,074
Small Equipment Purchases 5,670 -
IT Maintenance 6,062 -
Technical Maintenance 5,294 -
Bank charges 11 -
Sundry expenses 1,253 98
Depreciation of fixtures and fittings 517 2,029

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Theatre Porto Ltd

Expenses
for the year ended 31/03/2023
Depreciation of equipment
Governance Costs
Away Day Costs
Accountancy - Governance Cost		 2023
46,102
507,754
-
2,100
2,100
509,854		 2022
-
385,258
638
2,100
2,738
387,996