PEGASUS THEATRE TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED
31 MARCH 2022
Company No: 03038190 Charity No: 1055305
www.pegasustheatre.org.uk
PEGASUS THEATRE TRUST Trustees Report and Financial Statements 31 March 2022
Report of the Trustees
The Trustees present their report and the audited financial statements of the charity for the year ended 31st March 2022. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (FRS 102) in preparing the annual report and financial statements of the charity.
The directors of the charitable company are its trustees for the purposes of charity law. The trustees who have served during the year and since the year end were as follows :
G L Geary (Resigned 28 June 2022) E Havard (Resigned 26 October 2022) B J Joshua N Lloyd E MacDonald N Moran (Resigned 21 September 2021) R Price J Retallack (Resigned 21 September 2021) S Sansom (Resigned 26 October 2022)
Reference and Administrative Details
Chief Executive Officer AH Cole Company Number 03038190 Charity Number 1055305 Registered Office & Pegasus Theatre Trust Business address Magdalen Road Oxford OX4 1RE Principal bankers Co-operative Bank plc P O Box 250 Skelmersdale WN8 6WT Auditors Burton Sweet Limited Chartered Accountants The Clock Tower, 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 IUR
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PEGASUS THEATRE TRUST Trustees Report and Financial Statements 31 March 2022
Report of the Trustees (continued)
Objectives and activities
The objects of the company, as stated in its memorandum of association, are to advance the education of the public in the practice and appreciation of the arts, in particular, but not exclusively, for the benefit of children and young people.
Mission
Young people are the life force of Pegasus.
We provide the inspiration for journeys filled with creative opportunity, aspiration and imagination. Through listening and responding to the needs, ideas and energy of all those who find a home within it, Pegasus is a pioneering force creating the present, challenging and shaping the future and making an enduring impact on the vitality of the performing arts locally, regionally and nationally.
Vision
We will be recognised as a pioneering force in the performing arts with our work for, by and with young people providing outstanding opportunities for them to experience and create in the present, challenge and shape the future and make an enduring impact on the vitality of the performing arts locally, regionally and nationally.
The continual development of our artistic and organisational ambition will be shaped by listening and responding to the needs, ideas and energy of all those who find a home with us and informed by the creativity, skills and talents we will nurture in young people and staff alike.
Whilst recognising the needs and expectations of each young person who engages with us will vary, we will provide the space and support to enable young people to embark on individual journeys of personal growth filled with creative opportunity, aspiration and imagination.
We will be bold in our approach to securing a sustainable future for the organisation, reach out to partners who can support us, be nimble and adaptable to the ever-changing environment that surrounds us and ensure the choices we make enable us to work in innovative, viable and inspiring ways.
We will be at the heart of the communities we serve and foster a sense of belonging that encourages people of all ages, backgrounds and cultures to experience together outstanding creative experiences that are vibrant, urgent and exciting.
Public Benefit Statement
The Trustees consider that, having paid due regard to the public benefit guidance published by the Charity Commission, they have complied with the duty placed upon them in section 17(5) of the Charities Act 2011.
Achievements and performance
The past 12 months has been a period of rebuilding and re-engaging following the pandemic and we have continued to be flexible, adaptable, decisive, and quick to implement change to benefit the needs of our young users. The ongoing support of our key funders Arts Council England and Oxford City Council has been invaluable to the organisation over the period.
We have maintained our commitment to providing inspiring and high-quality projects for children, young people and their families. All courses ran throughout the year and returned to full capacity on site. We have run two drama courses (5-8 and 8-11), three Hip Hop courses (Junior, Senior and Crew) and two young companies (11-15 and 16-25). Hip Hop classes have been developed with a new partnership with Body Politic and in the summer term we introduced a new young company 14-18 Technical in response to interested from young participants wanting to develop backstage skills. As a result, we have seen attendance in classes on site of 5,137 alongside daily attendance by 48 Acting Diploma students
We continued to commit a significant proportion of our resources to ensure young people facing turbulent and complex situations. Our inclusion programme supported participation by excluded and vulnerable young people with little or no access to the arts offering weekly creative and drama-based sessions across three terms: Looking Forward for vulnerable young women this year the two groups participated in a
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PEGASUS THEATRE TRUST Trustees Report and Financial Statements 31 March 2022
Report of the Trustees (continued)
photography project which culminated with an exhibition of the young people’s work at the Photo Oxford Festival in the autumn. Acting Out 8-11, for children experiencing challenging life circumstances continued and was expanded to include a weeklong summer school in August.
Our young companies are year-long commitments working towards full productions giving participants an in-depth view of the theatre-making process. Additional summer weeks were introduced this year to provide intensive rehearsal weeks. The Young Company 11-15 worked throughout the year towards their production of Goldfish with public performances in July 21. The Young Company 16-25 presented a devised show, SHIFT , in December. The show was devised with support from Complicite associate Artist Clive Mendus.
We have been commissioned by Oxfordshire County Council for the past six years to produce and tour Under My Skin , a play about adolescent mental health by Ali Taylor, to local schools. Covid-19 required us to adapt our plans and this year working with director Emma Webb we produced a film version of the play which was screened in schools over the Summer 21 term reaching 4,112 young people.
We have re-established our show programme in the theatre delivering 76 performances for children and young people and families curated through a rigorous process of research, viewing, and networks, our show programme included increasing representation of work from global majority and disability led companies sourced through existing relationships with companies such as Tangle Theatre and BLINK dance and new relationships developed through networks such as house and the children and young people programming network. We reflect the diverse interests of young people selecting touring work generated by companies we have established relationship with and introduce new and emerging artists and companies developing work on the small scale. Audience numbers of 3,775 reflect a phased return over the summer and autumn seasons.
The delivery of the Acting Diploma for 16-18s in partnership with boomsatsuma and The River Learning Trust continued with a new intake of students in September. Productions of Animal Farm and Anna Karenina were performed in May 2021 although the planned July 2021 production of Earthquakes in London was cancelled due to Covid-19 in the cast. Our long-standing partnership with Magdalen College School to support the delivery of their Theatre Academy annual production returned to the building in September this year with a production of Jekyll/Hyde in March 21.
Our staff team continues to adapt and we are introducing two new posts, Director - People, Programmes, Partnerships will hold responsibility for the development of producing and touring, the show programme, artist development programmes, audience, and partnerships development and Community Engagement Manager with the key remit to build and sustain our local and community relationships through consultation and direct engagement with the diverse and under-served communities of east and southeast Oxford. We continue to play a key role in the local community and Oxford’s arts ecology and are a member of Oxford’s Cultural Partnership and Cultural Education Partnership and this year joined the newly formed Oxford Culture Anti-Racism Alliance.
Financial review
The (£183,309) deficit for the year is reported after charging £170,504 depreciation to the building fund which is a non-cash movement. The cash surplus for the year of £11,068 (2021 £132,635) is the result of the continued support throughout the period of our core funders, Arts Council England and Oxford City Council, reductions in overheads during periods of lockdown, reduced programme expenditure due to Covid-19 restrictions in the first quarter.
Reserves Policy
Pegasus Theatre Trust holds reserves in order to provide business stability and to invest in its charitable and artistic activities. The Trustees review the reserve levels of the charity annually. This review encompasses the nature of the income and expenditure streams, the need to match income with commitments and the nature of reserves. The Trustees also take into consideration the future of the charity, the uncertainty over future income streams and other key risks identified during the risk review.
Total current funds are £2,558,610 of which £2,246,191 is the Designated Building Fund and represents the residual value of grants from Arts Council England, Southeast, The Big Lottery Fund and other donations which contributed to the capital project (2010). The fund is reduced annually by the charge for depreciation of the building.
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PEGASUS THEATRE TRUST Trustees Report and Financial Statements 31 March 2022
Report of the Trustees (continued)
The Trustees have established that in addition to the general free reserves, there would be three additional designated reserve funds - the strategic fund, the asset replacement fund and the Young Companies’ production fund.
The designated strategic reserve total at March 2022 is £154,184. This is equivalent to 12 weeks of current gross expenditure which is sufficient to meet contractual liabilities should the organisation have to close or cease trading for any period. This includes redundancy pay, amounts due to creditors and commitments under leases. It is the trustees’ intention to maintain this designated strategic fund level at 12 weeks of current gross expenditure.
The designated asset replacement fund total at March 2022 is £52,000. The trustees approved the allocation of an additional £8,000 in this year to the fund for essential maintenance to the now 10-year-old building.
The Young Companies’ production fund currently stands at £30,000. This fund can be used over the period of the current five-year business plan, to underwrite Young Company productions at times when other sources of funding may be difficult to secure.
The current level of free reserves is £24,818 and the trustees believe that this is sufficient to maintain working capital for the foreseeable future. It is the trustees’ intention to maintain this reserve between £25,000 and £50,000.
Investment powers and policy
Under the memorandum and articles of association, the trustees of the charity have the power to invest as they see fit in the furtherance of the charity’s objectives. The trustees' investment policy is to obtain as high an income as possible with low risk. Such funds should be easily accessible given the requirement to hold liquid funds to meet cash flow demands and unexpected liabilities. The funds are therefore invested with the Co-operative and Clydesdale Banks. The investments provided a return of 0.35% in the year ended 31st March 2022.
Going concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
Future plans
In 2022 we will be re applying to the Arts Council for National Portfolio status and funding for the next four years 23-26 period. Continuing our focus on providing creative opportunities for young people and their families we will build on our ability to flex our operating model, gather wider opinion from our community to develop a programme that is continually responsive to the needs and interests of our audiences. Retaining the elements that resonate and redefining those that do not we will find project partners with shared ambitions and explore collaborations that bring an impactful range of opportunities to our programme. We will make positive changes to our inclusivity and diversity, investing in an organisational wide development programme to embed the processes that will ensure we fully represent and reflect the diversity of the communities we serve into the future. We will ensure we provide value for money by investing our resources, be they time or money, efficiently, continually reviewing where we direct our resources in relation to the needs and expectations of our young audiences and wider community. Ever mindful of our impact on future generations we will continue to implement our environmental action plan.
In recent recruitments the board successfully increased representation of younger people and those directly working in the arts. The next priority is to bring fresh energy to the team by addressing under representation from people of the global majority and local community arts practitioners. We are planning to test new approaches to recruiting Trustees in 2022/23 through focus groups and open events that explore different ways to make board membership accessible and attractive.
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PEGASUS THEATRE TRUST Trustees Report and Financial Statements 31 March 2022
Report of the Trustees (continued)
Structure, governance and management
Pegasus Theatre Trust is a company limited by guarantee governed by its memorandum and articles of association dated 27 March 1995. It is registered as a charity with the Charity Commission. The liability of members in the event of a winding up is limited by guarantee to an amount not exceeding £1 per member. At the balance sheet date there were 10 members.
In October 2014 the company formed a subsidiary, Pegasus Theatre Productions Ltd.
Appointment of Trustees
Pegasus Theatre Trust as a registered charity is governed by a board of trustees who are also directors of the company. Details of the trustees and directors are given on page 1. Each trustee is expected to remain in office for five years and may be re-elected for one further three-year term but may not be re-elected for a further term in office unless exceptional circumstances apply. Recruitment takes place as required and is also informed by a regular skills audit to ensure the changing needs of the organisation can be supported.
All trustees have a discussion with the chair, other members of the board and executive team prior to appointment which provides a summary of the trust's development to date and its current position. The new trustees have an opportunity to discuss the issues that arise and ask any questions. New trustees also receive a written role description, details of principal responsibilities and duties, recent minutes, some historical information and the current business plan, as well as the memorandum and articles of association and most recent accounts. All trustees receive an induction, which includes meeting the wider staff team, visits to a variety of Pegasus activities, in-house mentoring and training where necessary. Any trustee who will be in unsupervised contact with young people is required to be checked through the Disclosure and Barring Service.
Organisation
The Board of Trustees administer the charity. The board meets four times a year. In November 2018 the chairs’ committee was disbanded and there are now two sub-committees which allow for more detailed discussion and scrutiny at separate meetings: the finance and resources committee meets four times a year prior to board meetings; the development committee meets four times a year.
The Executive Director as Chief Executive Officer directs the strategic development and day-to-day operations of the charity with the support of the Creative Learning Director and Development Director.
Key Management Personnel Remuneration
The trustees consider the Board of Trustees, Chief Executive Officer, Director People, Programmes, Partnership and Creative Learning Director as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day-to-day basis. All trustees give of their time freely and no trustee remuneration was paid in the year. Details of trustee expenses and related party transactions are disclosed in note 19 to the accounts.
Trustees are required to disclose all relevant interests and in accordance with the Trust's policy withdraw from decisions where a conflict of interest arises. The pay of the key management personnel is reviewed annually by the trustees to ensure that it is fair and not out of line with similar roles.
Related Parties
Arts Council England, Southeast and Oxford City Council provide essential core funding and have nominated representation on the board as non-voting observers.
Details of transactions with these organisations are provided in note 19 to the accounts. The charity has one wholly owned subsidiary which currently does not trade.
The chair of Pegasus Youth Board is co-opted as trustee to the board with full voting rights or as non-voting observer depending on age.
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PEGASUS THEATRE TRUST Trustees Report and Financial Statements 31 March 2022
Report of the Trustees (continued)
Fundraising Practice
The charity employs a Development Director with the remit to organise and undertake planned fundraising activity. The organisation has signed up to the Fundraising Regulator’s Code of Fundraising Practice and the Development Director is a member of The Institute of Fundraising. Any direct fundraising marketing is undertaken by the Development Director to ensure it is not unreasonably intrusive or persistent. All fundraising material includes details of how to unsubscribe from all future mailings or contact. There have been no complaints made regarding fundraising activity during the year.
Risk Management
The trustees are responsible for the management of risks faced by the organisation. The board carries out a formal review of the charity's risk management processes on an annual basis and the charity maintains a risk register which is regularly monitored and reviewed by the board.
The key areas of risk where management failure would carry a potential threat to the organisation have been identified as follows: failures in statutory and regulatory compliance regarding the safeguarding of young people, reductions in income generated and failing to respond to changing funding environments, exceeding organisational capacity. The management of risk and the effectiveness of all material internal controls, including operational, financial and compliance controls is ongoing and reviewed and assessed by the senior management team, and is regularly reviewed by the board.
Statement of Trustees responsibilities
The trustees (who are also directors of Pegasus Theatre Trust for the purposes of company law) are responsible for preparing the Trustees’ Report (incorporating the directors’ report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Accepted Accounting Practice).
Company law requires the 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 income and expenditure of the charitable company for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently.
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observe the methods and principles in the Charities SORP.
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make judgments and accounting estimates that are reasonable and prudent.
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements.
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
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there is no relevant audit information of which the charitable company’s auditors are unaware.
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the trustees have taken all steps that they ought to make themselves aware of that information.
This report was approved by the Board of Directors and Trustees on 24 November 2022 and signed on its behalf by:
Bob Price Director/Trustee (Chair)
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PEGASUS THEATRE TRUST Trustees Report and Financial Statements 31 March 2022
Independent auditor’s report to the members of Pegasus Theatre Trust
Opinion
We have audited the financial statements of Pegasus Theatre Trust (the “Charity”) for the year ended 31 March 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
This report is made solely to the Charity’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charity’s members those matters we are required to state in them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity’s members as a body, for our audit work, for this report, or for the opinions we have formed.
In our opinion, the financial statements:
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give a true and fair view of the state of the Charity’s affairs as at 31 March 2022 and of its income and expenditure for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
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have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted out audit in accordance with international Standards in Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and out auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If based,
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PEGASUS THEATRE TRUST Trustees Report and Financial Statements 31 March 2022
on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report the fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the trustees’ report (incorporating the strategic report and the directors’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and
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the trustees’ report (incorporating the strategic report and the directors’ report) have been prepared in accordance with applicable law requirements.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
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sufficient accounting records have not been kept;
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the financial statements are not in agreement with the accounting records and returns;
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certain disclosures of trustees’ remuneration specified by law are not made; or
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we have not obtained all the information and explanations necessary for the purposes of our audit.
Responsibilities of trustees
As explained more fully in the trustees’ responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
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the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations.
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we identified the laws and regulations applicable to the charity through discussions with directors and other management, and from our knowledge and experience of the sector;
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we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements of the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation;
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we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
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PEGASUS THEATRE TRUST Trustees Report and Financial Statements 31 March 2022
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identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance through the audit.
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We assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
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making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
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considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and
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understanding the design of the charity’s remuneration policies.
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To address the risk of fraud through management bias and override of controls, we:
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performed analytical procedures to identify any unusual or unexpected relationships;
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tested journal entries to identify unusual transactions;
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assessed whether judgements and assumptions made in determining the accounting estimates set out in the accounting policies were indicative of potential bias; and
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investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
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agreeing financial statement disclosures to underlying supporting documentation;
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reading the minutes of meetings of those charged with governance;
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enquiring of management as to actual and potential litigation and claims; and
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reviewing correspondence with HMRC, relevant regulators and the charity’s legal advisors.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/apb/scope/private.cfm This description forms part of our auditor’s report.
Joshua Kingston ACA
For and on behalf of Burton Sweet Limited The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR
Date:
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PEGASUS THEATRE TRUST Trustees Report and Financial Statements 31 March 2022
| Statementof Financial Activities | (Incorporating an Income and Expenditure Account) | (Incorporating an Income and Expenditure Account) | (Incorporating an Income and Expenditure Account) | (Incorporating an Income and Expenditure Account) |
|---|---|---|---|---|
| Note Income from: Grants and donations 2 Charitable activities 3 Total income Expenditure on: Raising funds 4 Charitable activities 5 Total expenditure Net income / (expenditure) 6 Transfers Net movement in funds Total funds at 1 April 2021 Total funds at 31 March 2022 17 |
Unrestricted £ 388,468 117,319 505,787 39,590 640,704 680,294 (174,507) 15,071 (159,436) 2,961,280 2,531,844 |
Restricted £ 72,842 315 73,157 - 81,960 81,960 (8,803) (15,071) (23,874) 50,639 26,765 |
2022 Total £ 461,310 117,634 578,944 39,590 722,664 762,254 (183,310) - (183,310) 2,741,919 2,558,610 |
2021 Total £ 535,896 79,777 |
| 615,673 | ||||
| 41,344 643,315 |
||||
| 684,659 | ||||
| (68,986) - (68,986) 2,810,905 |
||||
| 2,741,919 |
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above.
The notes on pages 13 to 24 form part of these financial statements.
Prior year fund comparatives are contained in note 8.
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PEGASUS THEATRE TRUST Trustees Report and Financial Statements 31 March 2022
| 31 March 2022 | 31 March 2022 | ||
|---|---|---|---|
| Balance Sheet at 31 March 2022 | Company No: 03038190 | ||
| Note Fixed Assets Tangible Fixed Assets 10 Investments 11 Current Assets Debtors 12 Stock 13 Cash at Bank and in Hand Creditors: Amounts Due Within 1 Year 14 Net Current Assets Net Assets Funds Restricted Funds 17 Unrestricted Funds 17 Total Funds |
£ 2,270,842 1 30,485 1,309 312,161 |
2022 £ 2,270,843 343,955 (56,188) 287,767 2,558,610 26,766 2,531,844 2,558,610 |
2021 £ 2,428,242 1 |
| 2,428,243 20,037 1,385 364,963 |
|||
| 386,385 (72,709) |
|||
| 313,676 | |||
| 2,741,919 | |||
| 50,639 2,691,280 |
|||
| 2,741,919 |
These accounts have been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.
The notes on pages 13 to 24 form part of these financial statements.
Approved and authorised for issue by the Board of Directors on 24 November 2022 and signed on its behalf by
Bob Price
Director/Trustee
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PEGASUS THEATRE TRUST Trustees Report and Financial Statements 31 March 2022
| 31 March 2022 | 31 March 2022 | ||
|---|---|---|---|
| Statementof Cash Flows | |||
| 2022 2021 £ £ Net cash inflow from operating activities Notes A (27,975) 142,698 Non - operational cashflows: Cash flows from investing activities Interest received (16) (182) Acquisition of tangible fixed assets (24,811) (9,881) Net cash outflow for the year Notes B (52,802) 132,635 Notes to the Cashflow Statement A. Reconciliation of net movement in funds to net cash inflow from operating activities 2022 £ 2021 £ Net movement in funds Notes C (183,309) (68,985) Interest received 16 182 Decrease/(increase) in debtors (10,448) 36,472 (Increase)/decrease in stock 75 673 Increase/(decrease) in creditors (16,520) (1,652) Depreciation 182,211 176,008 Net cash inflow from operating activities (27,975) 142,698 B. Analysis of changes in cash during the year 2022 2021 Change £ £ £ Cash at bank and in hand 312,161 364,963 (52,802) 2021 2020 Change £ £ £ Cash at bank and in hand 364,963 232,328 132,635 |
2022 £ (27,975) (16) (24,811) (52,802) |
2021 £ 142,698 (182) (9,881) |
|
| 132,635 | |||
| 142,698 | |||
C. Cashflow restrictions
Charity law prohibits the use of net cash inflows on any endowed or other restricted fund to offset net cash outflows on any fund outside its own objects, except on special authority. In practice, this restriction has not had any effect on cashflows for the year.
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PEGASUS THEATRE TRUST Trustees Report and Financial Statements 31 March 2022
Notes to the financial statements
1. Summary of accounting policies
1.1 General information and basis for preparation
The financial statements have been prepared in accordance with the historical cost convention (except for investments which have been included at fair value and in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2019.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
The charity is a public benefit entity as defined under FRS 102.
1.2 Funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
1.3 Income recognition
All income is included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably, and it is probable that the income will be received.
For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained, then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.
No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102).
For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity where it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.
The charity receives government grants via Arts Council England and Oxford City Council. Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received, and the amount can be measured reliably. If entitlement is not met, then these amounts are deferred. Investment income is all earned from cash holdings in bank deposit accounts. Other income includes gains on disposals of tangible fixed assets.
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PEGASUS THEATRE TRUST Trustees Report and Financial Statements 31 March 2022
Notes to the financial statements (continued)
1.4 Expenditure recognition
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required, and the amount of the obligation can be measured reliably. It is categorised under the following headings:
Costs of raising grants and donations include salaries, the cost of fundraising events and promotional material.
Expenditure on charitable activity includes production costs, fees paid for received programme, costs in relation to delivery of the participation programme and all other costs directly connected with activity the charity undertakes.
1.5 Support cost allocation
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative and payroll costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings, they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources. Overheads have been allocated on a per capita basis. The analysis of these costs is included in note 5
1.6 Tangible fixed assets
These are included at cost less accumulated depreciation. All fixed assets over £1,000 are capitalised. The company has built a new theatre which was commissioned in May 2010. Costs directly connected with the construction of the new theatre including architects' fees, structural engineers' costs and direct project management costs have been capitalised. Depreciation is calculated to write off their cost over their expected useful lives as follows:
Fixtures, fittings and equipment 4 years Building 25 years
1.7 Stocks
Stock is included at the lower of cost or net realisable value. Stock consists of purchased goods for resale.
- 1.8 Leases
Rentals payable and receivable under operating leases are charged to the SoFA on a straightline basis over the period of the lease.
1.9 Pension costs
The company operates a defined contribution pension scheme. The pension costs charged in the SoFA represent the contributions payable by the company during the year.
2.0 Tax
The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
2.1 Going concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
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PEGASUS THEATRE TRUST Trustees Report and Financial Statements 31 March 2022
2. Income from grants and donations
| Core grants Oxford City Council Arts Council England South-East Covid-19 JRS Scheme Grant Public grants Oxfordshire County Council Oxford City Council BBC Children in Need Arts Council, Cultural Recovery Other grants and donations Garfield Weston Foundation PF Charitable Trust Mr and Mrs JA Pye's Charitable Settlement Cecil Pilkington Charitable Trust Doris Field Trust The Helen Hamlyn Trust The Barnsbury Charitable Trust Four Acre Trust Lottery Community Fund The Weinstock Fund The Souldern Trust The D'Oyly Carte Trust Photo Oxford Donations – Corporate Donations from Individuals |
Unrestricted £ 24,000 305,493 4,608 334,101 Unrestricted £ - - - - - Unrestricted £ 13,750 4,117 10,000 2,500 10,000 - - - - 500 - - 290 13,160 54,367 388,468 |
Restricted £ - - - - Restricted £ 1,695 250 17,876 20,686 40,507 Restricted £ - - - - 1,000 - 1,000 3,000 10,000 2,500 - 3,000 1,265 3,200 7,370 32,335 72,842 |
2022 Total £ 24,000 305,493 4,608 |
|---|---|---|---|
| 334,101 2022 Total £ 1,695 250 17,876 20,686 |
|||
| 40,507 2022 Total £ 13,750 4,117 10,000 2,500 1,000 10,000 1,000 3,000 10,000 2,500 500 3,000 1,265 3,490 20,530 |
|||
| 86,702 | |||
| 461,310 |
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PEGASUS THEATRE TRUST Trustees Report and Financial Statements 31 March 2022
2. Income from grants and donations – continued Prior year comparison (2020-21 )
| Core grants Oxford City Council Arts Council England South East Covid-19 JRS Scheme Grant Public grants Oxfordshire County Council Oxford City Council BBC Children in Need Other grants and donations Garfield Weston Foundation PF Charitable Trust Mr and Mrs JA Pye's Charitable Settlement Cecil Pilkington Charitable Trust Doris Field Trust The Helen Hamlyn Trust The Foyle Foundation The Ammco Trust A&H Pilkington Charitable Trust Clore Foundation The Barnsbury Charitable Trust The Cameron Macintosh Fund Donations – Corporate Donations from Individuals |
Unrestricted £ 24,000 305,493 45,762 375,255 Unrestricted £ - 25,000 - 25,000 Unrestricted £ 1,250 6,667 10,000 1,000 1,000 10,000 - - 1,000 - 2,500 - 500 17,615 51,532 451,787 |
Restricted £ - - - - Restricted £ 25,352 300 35,457 61,109 Restricted £ - - - - - - 12,500 500 - 5,000 - 5,000 - - 23,000 84,109 |
2021 Total £ 24,000 305,493 45,762 |
|---|---|---|---|
| 375,255 2021 Total £ 25,352 25,300 35,457 |
|||
| 86,109 2021 Total £ 1,250 6.667 10,000 1,000 1,000 10,000 12,500 500 1,000 5,000 2,500 5,000 500 17,615 |
|||
| 74,532 | |||
| 535,896 |
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PEGASUS THEATRE TRUST Trustees Report and Financial Statements 31 March 2022
| 3. | Income from charitable activities | |||
|---|---|---|---|---|
| 2022 | ||||
| Theatre and arts education activity | Unrestricted | Restricted | Total | |
| £ | £ | £ | ||
| Ticket sales | 17,444 | - | 17,444 | |
| Participation fees | 29,667 | - | 29,667 | |
| Facilities hire | 1,191 | - | 1,191 | |
| Hire fees (performances) | 600 | - | 600 | |
| Touring Fees | - | - | - | |
| Cafe Bar sales | 819 | - | 819 | |
| Miscellaneous | 10,415 | - | 10,415 | |
| Sponsorship | 51,964 | 315 | 52,279 | |
| Theatre tax relief | 5,216 | - | 5,216 | |
| 117,319 | 315 | 117,634 | ||
| Prior year comparison (2020/2021) | 2021 | |||
| Theatre and arts education activity | Unrestricted | Restricted | Total | |
| £ | £ | £ | ||
| Ticket sales | 595 | - | 595 | |
| Participation fees | 13,229 | - | 13,229 | |
| Facilities hire | - | - | - | |
| Hire fees (performances) | - | - | - | |
| Cafe Bar sales | 279 | - | 279 | |
| Miscellaneous | 1,449 | - | 1,449 | |
| Sponsorship | 64,225 | - | 64,225 | |
| Theatre tax relief | - | - | - | |
| 79,777 | - | 79,777 | ||
| 4. | Expenditure on raising funds | |||
| Total | Total | |||
| 2022 | 2021 | |||
| £ | £ | |||
| Direct costs | 37,913 | 40,085 | ||
| Support costs | 1,677 | 1,259 | ||
| 39,590 | 41,344 |
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PEGASUS THEATRE TRUST Trustees Report and Financial Statements 31 March 2022
5. Expenditure on charitable activities
| Programme Producing Participation Administration Premises/ Front of House Depreciation Governance costs Prior year comparison (2020/2021) Programme Producing Participation Administration Premises/ Front of House Depreciation Governance costs 6. Net income/(expenditure) This is stated after charging: Auditors' remuneration Operating leases Depreciation 7. Staff costs and numbers Staff costs were as follows: Wages and salaries Employer's National Insurance Employer's pension contributions |
Direct costs £ 60,969 78,404 110,895 66,457 83,632 - 6,597 406,954 Direct costs £ 37,406 57,566 105,235 65,307 64,745 - 5,585 335,844 |
Support costs £ 35,561 35,561 36,725 2,140 21,079 182,211 2,433 315,710 Support costs £ 34,156 34,156 34,662 1,137 24,946 176,009 2,405 307,471 2022 £ 5,600 - 182,211 2022 £ 287,272 20,251 7,817 315,340 |
Total 2022 £ 96,530 113,965 147,620 68,597 104,711 182,211 9,030 |
|
|---|---|---|---|---|
| 722,644 | ||||
| Total 2021 £ 71,562 91,722 139,897 66,444 89,691 176,009 7,990 |
||||
| 643,315 | ||||
| 2021 £ 4,725 - 176,009 2021 £ 295,528 21,335 8,247 |
||||
| 325,110 |
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PEGASUS THEATRE TRUST Trustees Report and Financial Statements 31 March 2022
7. Staff costs and numbers – continued
No employee earned more than £60,000 during the year.
| Average number (headcount) of employees The total number of staff at the year-end was13 |
2022 No. 13 |
2021 No. 13 |
|---|---|---|
The total amount of employee benefits received by key management personnel is £129,116 (2021: £130,309). The charity considers its key management personnel comprise:
Executive Director - Chief Executive
Development Director
Creative Learning Director
No trustee received remuneration or claimed expenses in the current or prior year. Expenses waived during the year were £nil (2021 - £0).
8. Prior year comparison (2020/2021 )
| Note Income from: Grants and donations 2 Charitable activities 3 Total income Expenditure on: Raising funds 4 Charitable activities 5 Total expenditure Net expenditure 6 Transfers Net movement in funds Total funds at 1 April 2020 Total funds at 31 March 2021 17 |
Unrestricted £ 451,787 79,777 531,564 41,344 619,467 660,811 (129,247) 15,000 (114,247) 2,805,527 2,691,280 |
Restricted £ 84,109 - 84,109 - 23,848 23,848 60,261 (15,000) 45,261 5,378 50,639 |
2021 Total £ 535,896 79,777 |
|---|---|---|---|
| 615,673 | |||
| 41,344 643,315 |
|||
| 684,659 | |||
| (68,986) - (68,986) 2,810,905 |
|||
| 2,741,191 |
9. Taxation
The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
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PEGASUS THEATRE TRUST Trustees Report and Financial Statements 31 March 2022
10. Tangible Fixed Assets
| Cost At 1 April 2021 Additions in year At 31 March 2022 Depreciation At 1 April 2021 Charge for the year At 31 March 2022 Net Book Value At 31 March 2022 At 31 March 2021 |
Building £ 4,262,613 - 4,262,613 1,845,916 170,504 2,016,420 2,246,192 |
Fixtures and new theatre equipment £ 523,443 - 523,443 523,443 - 523,443 - |
Fittings and equipment £ 43,046 24,811 67,857 31,501 11,707 43,208 24,650 |
Total £ 4,829,102 24,811 |
|---|---|---|---|---|
| 4,853,913 | ||||
| 2400,860 182,211 |
||||
| 2,583,071 | ||||
| 2,270,842 | ||||
| 2,416,697 | - | 11,545 | 2,428,242 |
The purchase of Pegasus Theatre and the subsequent improvements, which were mainly funded through restricted donations, were discharged on the completion of the building. The remaining value (after depreciation) is reflected in the designated building fund. The Arts Council England (ACE) and the Big Lottery Fund hold charges over the property. The charge in favour of ACE is in accordance with their standard capital funding items.
11. Investments
| Investments | |
|---|---|
| Cost At 1 April 2021 At 31 March 2022 |
Shares in subsidiary undertakings 1 |
| 1 |
The investment is made up of 100% of the share capital of Pegasus Theatre Productions Limited. Consolidated accounts have not been prepared as Pegasus Theatre Productions Limited was dormant throughout the whole period.
12. Debtors
| Debtors | ||
|---|---|---|
| Trade debtors Prepayments Other debtors |
2022 £ 2,248 12,218 16,017 30,483 |
2021 £ 12,564 7,473 |
| 20,037 |
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PEGASUS THEATRE TRUST Trustees Report and Financial Statements 31 March 2022
13. Stock
| 13. Stock |
||
|---|---|---|
| Goods for resale 14. Creditors: Amounts due within 1 year Trade creditors Accruals Deferred income Amounts owed to group undertakings Tax and social security Other creditors |
2022 £ 1,309 2022 £ 6,582 8,758 18,291 1 8,376 14,177 56,188 |
2021 £ 1,385 |
| 2021 £ 5,005 9,830 32,708 1 9,899 15,266 |
||
| 72,709 |
15. Operating leases
At 31 March 21 the organisation had no commitments under non-cancellable operating leases
16. Contingent liabilities
The Charity has provided a legal debenture over the property as valuable security in connection with the £2,700,000 grant from Arts Council, England. No provision has been made in respect of the grant or any other capital grant as the conditions attached are deemed unlikely to occur.
The Charity has provided a legal charge over the property as valuable security in connection with the £1,850,000 grant from the Big Lottery Fund. No provision has been made in respect of the grant or any other capital grant as the conditions attaching are deemed unlikely to occur.
17 Movement in funds
| At 1 April | At 31 March | ||||
|---|---|---|---|---|---|
| 2021 | Income | Expenditure | Transfers | 2022 | |
| £ | £ | £ | £ | £ | |
| Restricted funds | |||||
| Oxfordshire Council (UMS) | 16,364 | - | (13,883) | (2,481) | - |
| Oxfordshire County (ENB) | - | 1,695 | (1,695) | - | - |
| Children in Need | 10,103 | 17,876 | (15,387) | (12,590) | - |
| Oxford City Council (DC) | 1,487 | - | - | - | 1,487 |
| Oxford City Council (CEP) | 2,329 | - | (2,329) | - | - |
| Oxford City Council (SE) | - | 250 | (250) | - | - |
| ACE CRF2 | - | 20,686 | (20,686) | - | - |
| Dominvs Project | - | 1,500 | (1,500) | - | - |
| We Are Purple | - | 150 | (150) | - | - |
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| Photo Oxford Foyle Foundation Clore Foundation Cameron Macintosh D'Oyle Carte Lottery Community Fund Weinstock Fund The Big Give (Dec 21) Doris Field Charitable Trust Unrestricted funds General funds Designated funds: Strategic reserve Asset replacement fund Young Companies’ Production fund Building fund Total funds |
- 12,500 2,857 5,000 - - - - - 50,639 46,400 154,184 44,000 30,000 2,416,696 2,691,280 2,741,919 |
PEGASUS THEATRE TRUST Trustees Report and Financial Statements 31 March 2022 1,265 (1,265) - - - (12,500) - - - (2,875) - - - (5,000) - - 3,000 - - 3,000 10,000 (2,000) - 8,000 2,500 (2,292) - 208 13,070 - - 13,070 1,000 - - 1,000 73,157 (81,959) (15,071) 26,766 505,787 (509,790) 7,071 49,468 - - - 154,184 - - 8,000 52,000 - - - 30,000 - (170,504) - 2,246,192 505,787 (680,294) 15,071 2,531,844 578,944 (762,254) - 2,558,610 |
PEGASUS THEATRE TRUST Trustees Report and Financial Statements 31 March 2022 1,265 (1,265) - - - (12,500) - - - (2,875) - - - (5,000) - - 3,000 - - 3,000 10,000 (2,000) - 8,000 2,500 (2,292) - 208 13,070 - - 13,070 1,000 - - 1,000 73,157 (81,959) (15,071) 26,766 505,787 (509,790) 7,071 49,468 - - - 154,184 - - 8,000 52,000 - - - 30,000 - (170,504) - 2,246,192 505,787 (680,294) 15,071 2,531,844 578,944 (762,254) - 2,558,610 |
|---|---|---|---|
| 26,766 | |||
| 49,468 154,184 52,000 30,000 2,246,192 |
|||
| 2,531,844 | |||
| 2,558,610 |
Restricted funds:
Oxfordshire County Council – Funds for the delivery of Under My Skin & to support participants needs and core staffing cost (transfers)
Children in Need – funds to support the delivery of Looking Forward & Acting Out and core staffing costs (transfers)
Oxford City Council – funds to support the delivery of Dawn Chorus project and Acting Out project
Cameron Mackintosh Fund to support the delivery of 16-25 Young Company
Foyle Foundation – funds to support equipment and digital capacity
Lottery Community Fund – to support the delivery of Looking Forward & Acting Out
Clore Foundation – funds to support the delivery of the creative learning programme
Weinstock Fund – funds to support access needs for young participants
The Big Give (Dec 21) – donations towards the delivery of Looking Forward & Acting Out
Movement in funds (continued) Designated funds:
Strategic reserve
Stands at £154,184 14 weeks of current gross expenditure sufficient to meet contractual liabilities should the organisation close or cease trading.
Asset replacement fund
Stands at £52,000 and is designated for the replacement of assets fixtures & fittings.
Young Companies’ Production Fund
Stands at £30,000 and has been designated to underwrite young company productions over the period of the current business plan (2019-22) when sources of funding may be difficult to secure.
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PEGASUS THEATRE TRUST Trustees Report and Financial Statements 31 March 2022
Building fund
The Building fund represents the residual value of grants from Arts Council England, South East, The Big Lottery Fund and other donations which contributed to the capital project (2010). The fund is reduced annually by the charge for depreciation of the building.
Prior year comparison (2020/21
| Restricted funds Oxfordshire Council (UMS) Oxfordshire County (ENB) Children in Need Oxford City Council (AA) Oxford City Council (DC) Oxford City Council (CEP) Foyle Foundation Clore Foundation St Michaels & All Saints The Ammco Charitable Trust Cameron Macintosh Unrestricted funds General funds Designated funds: Strategic reserve Asset replacement fund Young Companies’ Production fund Building fund Total funds |
At 1 April 2020 £ - - - 1,487 2,329 - - 1,563 - - 5,378 29,746 154,184 7,397 27,000 2,587,200 2,805,527 2,810,905 |
Income £ 24,835 517 35,457 300 - - 12,500 5,000 - 500 5,000 84,109 531,564 - - - - 531,564 615,673 |
Expenditure £ (6,251) (517) (12,574) (300) - - - (2,143) (1,563) (500) - (23,848) (490,307) - - - (170,504) (660,811) (684,659) |
Transfers £ (2,220) - (12,780) - - - - - - - - (15,000) (24,603) - 36,603 3,000 - 15,000 - |
At 31 March 2021 £ 16,364 - 10,103 - 1,487 2,329 12,500 2,857 - - 5,000 |
|---|---|---|---|---|---|
| 50,639 | |||||
| 46,400 154,184 44,000 30,000 2,416,696 |
|||||
| 2,691,280 | |||||
| 2,741,919 |
18. Analysis of net assets between funds
| Net | |||
|---|---|---|---|
| Fixed | Current | Total | |
| Assets | Assets | Funds | |
| £ | £ | £ | |
| Restricted Funds | 26,766 | 26,766 | |
| Unrestricted Funds | |||
| Designated funds | 2,246,191 | 236,184 | 2,482,376 |
| General fund | 24,650 | 24,818 | 49,468 |
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PEGASUS THEATRE TRUST Trustees Report and Financial Statements 31 March 2022
| Total funds as at 31 March 2022 Prior year comparison (2020/2021) Restricted Funds Unrestricted Funds Designated funds General fund Total funds as at 31 March 2021 |
2,270,842 Fixed Assets £ - 2,416,696 11,547 2,428,243 |
287,768 Net Current Assets £ 50,639 228,184 34,853 313,676 |
2,558,610 Total Funds £ 50,639 2,644,880 46,400 |
|||
|---|---|---|---|---|---|---|
| 2,741,919 |
19 Related party transactions
Information about related party transactions and outstanding balances is outlined below: There were no related party transactions during the year or outstanding balances at 31 March 2022. (2021 £Nil)
In aggregate, Trustees made donations totalling £1,330 to the charity in the year. (2021: £531)
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