| Page | |||
|---|---|---|---|
| Report ofthe Trustees | 1 | to | 6 |
| Report ofthe Independent Auditors |
7 | to | 10 |
| Consolidated Statement ofFinancial Activities |
|||
| Cousolidated Statement ofFinancial Position |
12 | ||
| Statement ofFinancial Position | 13 | ||
| Statement ofCash Flows | 14 | ||
| Notes to the Statement ofCash Flows | 15 | ||
| Notes to the Financial Statements | 16 | to | 27 |
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| fund | funds | funds | funds | |||
| Notes | ||||||
| INCOME AND ENDOWMENTS | FROM | |||||
| Donations and legacies |
444,038 | 444,038 | 98,035 | |||
| Charitable activities |
||||||
| Operation oftheatre and cinema | 177,659 | 177,659 | 809,214 | |||
| Other trading activities | 31,170 | 31,170 | 176,906 | |||
| Investment income |
19 | 19 | 34 | |||
| Total | 652,886 | 652,886 | 1,084,189 | |||
| EXPENDITURE ON | ||||||
| Raising funds | 37,793 | 37,793 | 77,896 | |||
| Charitable activities |
||||||
| Operation oftheatre and cinema | 584,687 | 27,424 | 612,111 | 1,043,673 | ||
| Total | 622,480 | 27,424 | 649,904 | 1,121,69 | ||
| NET INCOME/(EXPENDITURE) | 30,406 | (27,424) | 2,982 | (37,380) | ||
| RECONCILIATION OFFUNDS | ||||||
| Total funds brought forward | (231,376) | 611,013 | 379,637 | 417,017 | ||
| TOTAL FUNDS CARRIED FORWARD | (200,970) | 583,589 | 382,619 | 379,637 |
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| fund | funds | funds | funds | |||
| Notes | ||||||
| FIXEDASSETS | ||||||
| Tangible assets |
14 | 38,187 | 650,971 | 689,158 | 730,075 | |
| 38,187 | 650,971 | 689,158 | 730,075 | |||
| CURRENT ASSETS | ||||||
| Stocks | 16 | 3,361 | 3,361 | 10,636 | ||
| Debtors | 17 | 44,186 | 44,186 | 11,852 | ||
| Cash at bank and in hand | 21,179 | 21,179 | 10,810 | |||
| 68,726 | 68,726 | 33,298 | ||||
| CREDITORS | ||||||
| Amounts falling due within |
one year | 18 | (266,152) | (67,382) | (333,534) | (339,469) |
| NET CURRENT ASSETS/(LIABILITIES) | (197,426) | (67,382) | (264,808) | (306,172) | ||
| TOTAL ASSETSLESSCURRENT | ||||||
| LIABILITIES | (159,239) | 583,589 | 424,350 | 423,904 | ||
| CREDITORS | ||||||
| Amounts falling due after more than one year |
19 | (41,731) | (41,731) | (44,267) | ||
| NET ASSETS | (200,970) | 583,589 | 382,619 | 379,637 | ||
| FUNDS | 22 | |||||
| Unrestricted funds |
(200,970) | (231,376) | ||||
| Restricted funds | 583,589 | 611,013 | ||||
| TOTAL FUNDS | 382,619 | 379,637 |
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| fund | funds | funds | funds | ||
| Notes | |||||
| FIXEDASSETS | |||||
| Tangible assets | 14 | 38,187 | 650,971 | 689,158 | 730,075 |
| Investments | 15 | 1 | 1 | I | |
| 38,188 | 650,971 | 689,159 | 730,076 | ||
| CURRENT ASSETS | |||||
| Stocks | 16 | 3,361 | 3,361 | 10,636 | |
| Debtors | 17 | 42,935 | 42,935 | 11,851 | |
| Cash at bank and in hand | 21,179 | 21,179 | 10,810 | ||
| 67,475 | 67,475 | 33,297 | |||
| CREDITORS | |||||
| Amounts falling due within one year |
18 | (264,902) | (67,382) | (332,284) | (339,469) |
| NET CURRENT ASSETS/(LIABILITIES) | (197,427) | (67,382) | (264,809) | (306,172) | |
| TOTAL ASSETSLESSCURRENT | |||||
| LIABILITIES | (159,239) | 583,589 | 424,350 | 423,904 | |
| CREDITORS | |||||
| Amounts falling due after more than one year |
19 | (41,731) | (41,731) | (44,267) | |
| NET ASSETS | (200,970) | 583,589 | 382,619 | 379,637 | |
| FUNDS | 22 | ||||
| Unrestricted funds |
(200,970) | (231,376) | |||
| Restricted funds | 583,589 | 611,013 | |||
| TOTAL FUNDS | 382,619 | 379,637 |
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| Notes | ||||||
| Cash flows from operating | activities | |||||
| Cash generated from operations |
17,492 | 31,165 | ||||
| Interest paid | (3,335) | (5,505) | ||||
| Net cash provided by operating activities |
14,157 | 25,660 | ||||
| Cash flows from investing | activities | |||||
| Purchase oftangible fixed | assets | (949) | (23,268) | |||
| Interest received | 19 | 34 | ||||
| Net cash used in investing | activities | (930) | (23,234) | |||
| Cash flows from financing | activities | |||||
| New loans in year | 30,000 | 100,000 | ||||
| Loan repayments in year |
(32,322) | (61,453) | ||||
| Net cash (used in)/provided | by financing | activities | (2,322) | 38,547 | ||
| Change in cash and cash equivalents | in | |||||
| the reporting period |
10,905 | 40,973 | ||||
| Cash and cash equivalents | at the | |||||
| beginning ofthe reporting |
period | 10,274 | (30,699) | |||
| Cash and cash equivalents | at the end | of | ||||
| the reporting period |
21,179 | 10,274 |
| OPERATING AC | TIVITIES | |||||
|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||
| Net income/(expenditure) for the reporting |
period (as per the | |||||
| Statement ofFinancial Activities) | 2,982 | (37,380) | ||||
| Adjustments for: |
||||||
| Depreciation charges |
41,865 | 43,653 | ||||
| Interest received | (19) | (34) | ||||
| Interest paid | 3,335 | 5,505 | ||||
| Decrease/(increase) | in stocks | 7,275 | (6,608) | |||
| (Increase)/decrease | in debtors | (32,334) | 7,860 | |||
| (Decrease)/increase | in creditors | (5,612) | 18,169 | |||
| Net cash provided | by operations | 17,492 | 31,165 | |||
| ANALYSIS OF CASH AND CASH EQUIVALENTS | ||||||
| 2021 | 2020 | |||||
| Cash in hand | 945 | 10,810 | ||||
| Notice deposits (less than 3months) | 20,234 | |||||
| Overdrafts included |
in bank loans and overdrafts | falling due within | one year | (536) | ||
| Total cash and cash | equivalents | 21,179 | 10,274 | |||
| ANALYSIS OF CHANGES IN NET DEBT |
| ANALYSIS OF CHAN | GES IN NET DEBT | |||
|---|---|---|---|---|
| At 1.2.20 | Cash flow | At 31.1.21 | ||
| Net cash | ||||
| Cash at bank and in hand | 10,810 | 10,369 | 21,179 | |
| Bank overdraft | (536) | 536 | ||
| 10,274 | 10,905 | 21,179 | ||
| Debt | ||||
| Debts falling due within | 1year | (32,058) | (213) | (32,271) |
| Debts falling due after 1 | year | (44,267) | 2,536 | (41,731) |
| (76,325) | 2,323 | (74,002) | ||
| Total | (66,051) | 13,228 | (52,823) |
| DONATION | S AND LEGACIES |
||
|---|---|---|---|
| 2021 | 2020 | ||
| Private Donations | 39,595 | 69,207 | |
| Business Donations | 167 | 3,360 | |
| Grants | 404,276 | 25,468 | |
| 444,038 | 98,035 | ||
| Grants received, included in the above, are as follows: | |||
| Tewkesbury | Borough Council | 27,000 | 19,950 |
| South West | Film Hub | 5,518 | |
| Arts Council | England | 213,000 | |
| Watershed | 8,312 | ||
| Barnwood Trust | 10,000 | ||
| British Film | Institute | 13,840 | |
| HMRC JRS | 132,124 | ||
| 404,276 | 25,468 |
| 3. | OTHER TRADING ACTIVITIES | ||||
| 202] | 2020 | ||||
| Kiosk and Bar | 18,704 | 124,570 | |||
| Merchandising | 8,084 | ||||
| Advertising Income |
2,085 | 4,578 | |||
| Theatre and room hire | 10,856 | ||||
| Other income | 8,669 | 8,253 | |||
| Sponsorship and fundraising |
1,712 | 8,619 | |||
| Theatre tax credits | 11,946 | ||||
| 31,170 | 176,906 | ||||
| 4. | INVESTMENT INCOME | ||||
| 2021 | 2020 | ||||
| Deposit account interest | 19 | 34 | |||
| 5. | INCOME FROM CHARITABLE ACTIVITIES | ||||
| 2021 | 2020 | ||||
| Activity | |||||
| Theatre ticket sales | Operation | oftheatre and cinema | 125,140 | 532,652 | |
| Cinema ticket sales | Operation | ofthean e and cinema | 35,287 | 173,951 | |
| Take Part | Operation | oftheane and cinema | 4,937 | 10,748 | |
| Booking Fees | Operation | oftheatre and cinema | 12,295 | 91,863 | |
| 177,659 | 809,214 |
| 6. | RAISING FUNDS | RAISING FUNDS | |||
|---|---|---|---|---|---|
| Other trading activities | |||||
| 2021 | 2020 | ||||
| Purchases | 16,597 | 48,844 | |||
| Staff costs | 20,931 | 23,780 | |||
| Sponsorship | and fundraising | 265 | 5,272 | ||
| 37,793 | 77,896 | ||||
| 7. | CHARITABLE ACTIVITIES COSTS | ||||
| Direct | Support | ||||
| Costs (see | costs (see | ||||
| note 8) | note 9) | Totals | |||
| Operation of | theatre and cinema | 442,075 | 170,036 | 612,111 | |
| 8. | DIRECT COSTSOF CHARITABLE ACTIVITIES | ||||
| 2021 | 2020 | ||||
| Staff costs | 198,676 | 226,261 | |||
| Show Costs | 110,813 | 344,883 | |||
| Miscellaneous | 29,518 | 29,921 | |||
| Hire offilms | 22,889 | 73,776 | |||
| Credit card charges | 4,828 | 21,124 | |||
| Insurance | 11,408 | 14,845 | |||
| Take Part costs | 18,885 | 15,294 | |||
| Bank charges | 3,193 | 5,910 | |||
| Depreciation | 41,865 | 43,653 | |||
| 442,075 | 775,667 | ||||
| 9. | SUPPORT COSTS | ||||
| Governance | |||||
| Other | costs | Totals | |||
| Operation of | theatre and cinema | 114,269 | 55,767 | 170,036 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Operation | |||||
| of | |||||
| theatre | |||||
| and | Total | ||||
| cinema | activities | ||||
| Marketing salaries |
35,495 | 37,672 | |||
| Premises Expenses | 31,563 | 78,659 | |||
| ITCosts | 18,484 | 17,697 | |||
| Office expense | 10,012 | 11,040 | |||
| Advertising | 15,380 | 56,317 | |||
| Interest payable | 3,335 | 5,505 | |||
| Administration | salaries | 12,814 | 32,745 | ||
| ITCosts | 9,350 | 11,180 | |||
| Accountancy | 21,517 | 7,100 | |||
| Professional | Fees | 5,586 | 2,541 | ||
| Auditors remuneration |
6,500 | 7,550 | |||
| 170,036 | 268,006 | ||||
| 10. | NET INCOME/(EXPENDITURE) | ||||
| Net income/(expenditure) | is stated after charging/(crediting): | ||||
| 2021 | 2020 | ||||
| Depreciation | —owned assets | 41,866 | 43,653 |
| STAFF COSTS | ||
|---|---|---|
| 31.1.20 | 31.1.19 | |
| Wages and salaries | 266,408 | 308,103 |
| Social security costs | 11,817 | 16,433 |
| Pension costs | 3,955 | 4,137 |
| 282,181 | 328,673 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Marketing | 1 | 1 | |||
| Kiosk and | bar | 3 | 3 | ||
| Fundraising | 1 | ||||
| Operations | 12 | 12 | |||
| Take Part | 1 | 1 | |||
| Technical | Staff | 5 | 4 | ||
| Governance | 1 | 3 | |||
| 23 | 25 | ||||
| No employees received emoluments |
in excess of$60,000. | ||||
| COMPARATIVES FORTHE STATEMENT OFFINANCIAL | ACTIVITIES | ||||
| Unrestricted | Restricted | Total | |||
| fund | funds | funds | |||
| INCOME | AND ENDOWMENTS | FROM | |||
| Donations | and legacies | 98,035 | 98,035 | ||
| Charitable | activities | ||||
| Operation | oftheatre and cinema | 809,214 | 809,214 | ||
| Other trading activities | 176,906 | 176,906 | |||
| Investment | income | 34 | 34 | ||
| Total | 1,084,189 | 1,084,189 | |||
| EXPENDITURE ON | |||||
| Raising funds | 77,896 | 77,896 | |||
| Charitable | activities | ||||
| Operation | oftheatre and cinema | 1,012,502 | 31,171 | 1,043,673 | |
| Total | 1,090,398 | 31,171 | 1,121,569 |
| 13. | COMPARATIVES | FOR THE STATEMEN | T OF FINANCIA | L ACTIVITIE | S - continued | |
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||||
| fund | funds | funds | ||||
| NET INCOME/(EXPENDITURE) | (6,209) | (31,171) | (37,380) | |||
| RECONCILIATION | OFFUNDS | |||||
| Total funds brought | forward | (225, 167) | 642,184 | 417,017 | ||
| TOTAL FUNDS CARRIED FORWARD | (231,376) | 611,013 | 379,637 | |||
| 14. | TANGIBLE FIXED | ASSETS | ||||
| Stage k | Fixtures | |||||
| Short | Cinema | and | Office | |||
| leasehold | Equipment | fittings | Equipment | Totals | ||
| COST | ||||||
| At 1 February 2020 | 707,366 | 161,342 | 205,911 | 176,285 | 1,250,904 | |
| Additions | 949 | 949 | ||||
| At 31January 2021 | 707,366 | 161,342 | 205,911 | 177,234 | 1,251,853 | |
| DEPRECIATION | ||||||
| At 1 February 2020 | 42,442 | 134,774 | 182,823 | 160,790 | 520,829 | |
| Charge for year | 28,294 | 5,314 | 5,127 | 3,131 | 41,866 | |
| At 31January 2021 | 70,736 | 140,088 | 187,950 | 163,921 | 562,695 | |
| NET BOOK VALUE | ||||||
| At 31January 2021 | 636,630 | 21,254 | 17,961 | 13,313 | 689,158 | |
| At 31January 2020 | 664,924 | 26,568 | 23,088 | 15,495 | 730,075 |
| Nature ofbusiness: General trading |
company | |||
|---|---|---|---|---|
| Class ofshare: | holding | |||
| Ordinary | 100 | |||
| 16. | STOCKS | |||
| 2021 | 2020 | |||
| Stocks | 3,361 | 10,636 | ||
| 17. | DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 2021 | 2020 | |||
| Trade debtors | 185 | 525 | ||
| Other debtors | 24,001 | 1 | ||
| VAT | 3,294 | |||
| Prepayments | 16,706 | 11,326 | ||
| 44,186 | 11,852 |
| 18. | CREDITO | RS: AMOUNTS | FALLING DUE WITHIN ONE YE | AR | |
|---|---|---|---|---|---|
| 2021 | 2020 | ||||
| Bank loans | and overdrafts (see note 20) |
32,271 | 32,594 | ||
| Trade creditors | 36,782 | 69,453 | |||
| Social security and other taxes | 18,591 | 5,901 | |||
| VAT | 10,584 | ||||
| Other creditors | 1,559 | 3,577 | |||
| Deferred income | 212,207 | 191,367 | |||
| Accrued expenses | 32,124 | 25,993 | |||
| 333,534 | 339,469 | ||||
| 19. | CREDITORS: AMOUNTS | FALLING DUE AFTERMORE THAN ONE YEAR | |||
| 2021 | 2020 | ||||
| Bank loans | (see note 20) | 11,731 | 44,267 | ||
| Other loans | (see note 20) | 30,000 | |||
| 41,731 | 44,267 | ||||
| 20. | LOANS | ||||
| An analysis | ofthe maturity ofloans is given below: | ||||
| 2021 | 2020 | ||||
| Amounts falling due within one year on demand: |
|||||
| Bank overdrafts | 536 | ||||
| Bank loans | 32,271 | 32,058 | |||
| 32,271 | 32,594 | ||||
| Amounts falling due between |
one and two years: | ||||
| Bank loans | —1-2years | 11,731 | 32,178 | ||
| Other loans | —1-2years | 11,250 | |||
| 22,981 | 32,178 | ||||
| Amounts falling due between |
two and five years: | ||||
| Bank loans | - 2-5 years | 12,089 | |||
| Other loans | —2-5 years | 18,750 | |||
| 18,750 | 12,089 |
| 2021 | 2020 | ||
|---|---|---|---|
| Bank | loans | 44,002 | 76,325 |
| Other | loans | 30,000 | |
| 74,002 | 76,325 |
| MOVEMEN | T IN FUNDS | |||
|---|---|---|---|---|
| Net | ||||
| movement | At | |||
| At 1.2.20 | in funds | 31.1.21 | ||
| Unrestricted | funds | |||
| General fund | (231,376) | 30,406 | (200,970) | |
| Restricted funds | ||||
| Capital Campaign | 601,719 | (25,465) | 576,254 | |
| Theatre Seats | 9,294 | (1,959) | 7,335 | |
| 611,013 | (27,424) | 583,589 | ||
| TOTAL FUNDS | 379,637 | 2,982 | 382,619 |
| Incoming | Resources | Movement | ||
|---|---|---|---|---|
| resources | expended | in funds | ||
| Unrestricted | funds | |||
| General fund | 652,886 | (622,480) | 30,406 | |
| Restricted funds | ||||
| Capital Campaign | (25,465) | (25,465) | ||
| Theatre Seats | (1,959) | (1,959) | ||
| (27,424) | (27,424) | |||
| TOTAL FUNDS | 652,886 | (649,904) | 2,982 |
| Comparatives | for movement | for movement | in funds | |||
|---|---|---|---|---|---|---|
| Net | ||||||
| movement | At | |||||
| At 1.2.19 | in funds | 31.1.20 | ||||
| Unrestricted | funds | |||||
| General fund | (225, 167) | (6,209) | (231,376) | |||
| Restricted funds | ||||||
| Capital Campaign | 627,184 | (25,465) | 601,719 | |||
| Theatre Seats | 15,000 | (5,706) | 9,294 | |||
| 642,184 | (31,171) | 611,013 | ||||
| TOTAL FUNDS | 417,017 | (37,380) | 379,637 | |||
| Comparative | net movement | in | funds, included | in the above are as follows: | ||
| Incoming | Resources | Movement | ||||
| resources | expended | in funds | ||||
| Unrestricted | funds | |||||
| General fund | 1,084,189 | (1,090,398) | (6,209) | |||
| Restricted funds | ||||||
| Capital Campaign | (25,465) | (25,465) | ||||
| Theatre Seats | (5,706) | (5,706) | ||||
| (31,171) | (31,171) | |||||
| TOTAL FUNDS | 1,082,689 | (1,120,069) | (37,380) |