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2022-03-31-accounts

Company no. 02539087 Charity no. 1065012

Travelling Light Theatre Company Report and Unaudited Financial Statements 31 March 2022

Travelling Light Theatre Company

Reference and Administrative Details

For The Year Ended 31 March 2022

Company Number 02539087
Charity Number 1065012
Registered Office Barton Hill Settlement
43 Ducie Road
Lawrence Hill
Bristol
BS5 0AX
Trustees Trustees, who are also directors under company law, who served during
the year and up to the date of this report were as follows:
Jennifer Blackwood (Vice Chair)
Joanna Cross
Polly Derbyshire
Marc Leverton
John Middleton (resigned 1 March 2022)
Tom Rowe (resigned 19 July 2022)
Ian Stickland (Chair)
Matimba Swana (appointed 19 July 2022)
Company Secretary Dienka Hines
Principal Staff Dienka Hines Executive Director
Heidi Vaughan Artistic Director
Bankers Co-operative Bank Triodos Bank
14 Broadmead Deanery Road
Bristol Bristol
BS1 3HH BS1 5AS
Shawbrook Bank Limited Charity Bank
Lutea House Fosse House
Warley Hill Business Park 182 High Street
Brentwood Tonbridge
CM13 3BE TN9 1BE

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Travelling Light Theatre Company

Reference and Administrative Details

For The Year Ended 31 March 2022

Independent Examiners

Godfrey Wilson Limited Chartered Accountants & Statutory Auditors 5th Floor, Mariner House 62 Prince Street Bristol BS1 4QD

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Travelling Light Theatre Company

Chair’s report

For The Year Ended 31 March 2022

Chair’s Welcome

This year, Travelling Light returned to in-person activity, continuing our rich heritage of creating outstanding theatre and creative experiences for young people with a renewed sense of purpose and resilience borne out of the previous two years.

Whilst we are very proud of our response and impact during the Coronavirus pandemic, it has been an absolute joy to see stories shared in the same physical space once again. There have been many examples of the impact this has had over the year, but in particular the tour of Vixen gave schools audiences the opportunities to explore complex emotions, narratives and characters. It was especially rewarding to hear the reaction of many children who hadn’t been able to access live theatre engaged in these performances and a wonderful return to the essence of Travelling Light’s work.

During the year, our participation work transitioned fully back to face-to-face delivery, and we have been so pleased to welcome young people back into the Travelling Light studio from our range of groups as well as delivering workshops with the wider Barton Hill community. Young people have been hugely affected by the pandemic and the importance of creative outlets and shared experience has been clear throughout. It’s been very interesting to see the team incorporate the best bits from our digital workshops into the physical work.

Our AGM this year saw the planned resignation of previous Chair John Middleton when he reached the maximum trustee term. On behalf of the trustees, I wish to use this report to thank John for his dedicated leadership and look forward to his continued support as a friend and member of Travelling Light.

The next year promises more opportunities to reach children and young people with fantastic creative work. In the year ahead, there will inevitably be some more transitions as we continue to remain responsive to wider global and economic issues and relevant to the needs of our audience, alongside a change in artistic leadership with the upcoming departure of our Artistic Director Heidi Vaughan and a new Artistic Director to be welcomed to the team. With a strong business plan, the generous support of existing and new funders and a committed staff and trustee team, the foundations of Travelling Light remain strong. Therefore, we look forward to the rest of 22/23 and the continued success and development of the organisation.

Ian Stickland - Chair

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Travelling Light Theatre Company

Report of the trustees

For The Year Ended 31 March 2022

The trustees present their report and the financial statements for the year ended 31 March 2022.

Reference and administrative information set out on pages 1 and 2 form part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities (issued January 2019).

Objectives and activities

The objectives of the charity as set out in its governing document are to advance education for the public benefit by the promotion of the arts, in particular the art of drama.

Travelling Light’s mission is to create outstanding theatre for and with young people that inspires their thinking, engages their emotions and fires their imaginations.

From our base in Barton Hill in Bristol, we create outstanding touring theatre for young audiences, which travels to a range of spaces, from theatres to schools and community venues. Through touring, we take great stories to audiences across the country, enabling children and their families to experience moments of beauty, joy and imagination. For many children and young people, seeing our shows is their first experience of theatre and can inspire a lifetime’s enjoyment.

Our participatory programme offers creative opportunities to children in Barton Hill and across Bristol through regular youth theatre groups, family and holiday activities and a creative learning programme in schools and education settings.

In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission’s guidance on public benefit, including the guidance ‘public benefit: running a charity’ (PB2).

Summary of activities and achievements 2021-22

As the second coronavirus lockdown restrictions eased in April 2021, Travelling Light began a gradual return to face to face activities. Our programme of productions and creative activities built on the learning and partnerships created as part of our pandemic response, and we continued to listen to needs, supporting our audiences and participants’ wellbeing, capturing imaginations, creating connections and encouraging creativity and self-expression.

Throughout the year our work reached 33,158 people:

We also employed 47 casual and freelance artists and facilitators throughout the year.

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Travelling Light Theatre Company

Report of the trustees

For The Year Ended 31 March 2022

Schools engagement – productions and projects

Reaching children in schools is at the heart of Travelling Light’s work and was of particular importance with children returning to face-to-face education after the coronavirus lockdowns. Children’s wellbeing, mental health and learning were all impacted by the pandemic, and teachers and pupils fed back that bringing creativity into schools was an important part of supporting pupil wellbeing and learning. Throughout the year, we responded to this through digital resources and touring productions, bespoke workshops and a teacher development project.

17 & the Squeak Gobbler was a series of digital stories inspired by Travelling Light’s local community and produced during lockdown through research and development with a team of experienced artists, who spent time exploring how high-quality theatre for young audiences could be translated to the digital form. In May 2021, 17 & the Squeak Gobbler was shared with schools nationwide, with accompanying resources to promote speaking, listening and wellbeing and to encourage children to create their own stories. 17 & the Squeak Gobbler reached 28,000 children in school and, another 512 people engaged through wider sharing online in summer 2021.

“It was very interesting, the children were so engaged and were so excited when they realised what 17 and the squeak gobbler were! The children loved how it was set in a familiar setting.” Teacher.

Vixen was a new Travelling Light production designed for schools touring, originally planned for autumn 2020. This original story by Matt Grinter about a young girl who is turning into a fox, travelled to 13 schools with 25 performances. It was enjoyed by 2,484 children in school, with another 446 people enjoying performances in other settings.

Feedback from teachers demonstrated that it was many children’s first experience of theatre, especially with children in years 3 and 4 having missed out due to the pandemic.

We conducted an in-depth impact evaluation of the production, with freelance evaluator Dr Elaine Faull, who worked with 7 schools to evaluate the impact both immediately and over time. This evaluation found that:

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Travelling Light Theatre Company

Report of the trustees

For The Year Ended 31 March 2022

“I felt several emotions…I felt sad, I felt happy, and I felt I was going to explode (laughs) because I hadn’t seen anything like it before.” Comment from a Year 4 child who had not experienced theatre previously.

In autumn 2021 we launched Light Up School Learning , a two-year inquiry-based project funded by Paul Hamlyn’s Teacher Development Fund. This two-year project worked in depth with 5 partner schools across Bristol to explore how drama can support pupil’s speech and language, emotional literacy and wellbeing. The first phase of the project involved whole year groups in each school taking part in Arts Days, exploring topics and themes through drama and the arts. This was followed by a Travelling Light team of experienced artists supporting teachers in each school to develop confidence in integrating drama techniques into their curriculum. We delivered 151 sessions with 10 teachers and 310 pupils taking part.

“There has been a huge difference and change in whole class culture – particularly due to the improved confidence in many.” Teacher .

“It has helped me realise that there are so many different ways that you can use drama and art to access the curriculum.” Teacher.

“I feel happy because I’m having fun, but I also feel a bit more confident.” Pupil.

We also delivered bespoke creative learning workshops with 8 schools and early years settings and a professional development programme with the University of Bristol. There was high demand for these activities after a period of disrupted learning and digital teaching during lockdown and we reached 1,075 young people during the year.

Community engagement – holiday activities and community performances

Throughout the year, we deepened our relationships and partnerships within our local Barton Hill area, including continuing those built through our pandemic response, enabling us to adapt our work to meet the needs of children and families in our locality.

Through conversations with community partners, we identified a particular need for holiday projects which address the lack of positive activities in the school holidays and food poverty locally. We worked closely with local food charity St Luke’s Lunch (a partnership that started through our pandemic response) to provide a series of holiday activities and workshops for local children, combining creative activities with the chance to have a free healthy meal and learn about healthy cooking. 264 children took part in 19 sessions over the Easter, summer, October and February school holidays. All children taking part were from our local area and were in receipt of universal credit/free school meals, and 20% of participants identified as having additional needs. Parents also felt the project provided an opportunity to bring local families together after the isolation experienced by many during the pandemic.

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Travelling Light Theatre Company

Report of the trustees

For The Year Ended 31 March 2022

“I enjoy the space, that we can all come together as a community and getting to know different people that live in your community, and you can hear the children in the background are having such a great time. I’m just so grateful that it’s in the local area.” Parent.

This work was made possible thanks to the kind support of National Lottery Community Fund (Awards for All), Quartet Community Foundation, The High Sherriff of Bristol and the Annual BYCA appeal, The Holiday Activities and Food (HAF) Programme and Coutts Charitable Foundation.

Reaching audiences locally who may not otherwise be able to experience theatre remained a key part of our programme. As part of our tour of Vixen , we hosted 8 community performances in the October half term with 188 people attending, providing an opportunity to bring families and communities together for an enjoyable and accessible experience which encouraged greater confidence to engage with theatre.

“I think that the show was beautiful, had a strong meaning and was really inspiring. I will always remember this show.” Audience member from community shows.

Young People’s engagement – Youth Theatre, ActionSpeak and Louder Than Words.

Our youth theatre groups were delighted to return to face-to-face sessions in the Travelling Light Studio. They worked with practitioners to explore ideas, develop their confidence and learn creative skills.

“Even though it’s youth theatre, it’s not just about creating theatre. It’s about making friends, growing as a person with your confidence and having fun and learning new skills.” - Youth Theatre member.

Our Louder Than Words and ActionSpeak groups for young disabled people and young people with additional needs returned to the studio after regular online sessions during the coronavirus lockdowns. We continued to use the learning from our online delivery, including using short films made for engagement at home during lockdown to provide a welcoming introduction to the groups for new members. Online sessions also provided an effective contingency for when staff were unable to deliver face to face sessions due to self-isolation, ensuring the group’s regular sessions could continue.

Young people in all the youth theatre groups found that the sessions supported their mental health and wellbeing, helping them to develop their confidence and friendships after a period of isolation during the coronavirus pandemic.

“I feel like with expressing myself I can get a lot out of my head that has just been there for weeks and months and it’s nice and relaxing. It just gets a lot of things off my chest.” Louder Than Words member.

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Travelling Light Theatre Company

Report of the trustees

For The Year Ended 31 March 2022

“I like it because we are a family and we all get on, and we all support each other, and what needs we have”. ActionSpeak member.

This work was made possible thanks to the kind support of National Lottery Community Fund (Awards for All), Postcode Community Trust, Joyce Fletcher Charitable Trust, John James Bristol Foundation, Burges Salmon Charitable Foundation, Children in Need and Travelling Light Friends and donors.

Research and Development and Artist Support

We continued our partnership with Vital Spark (a programme addressing the lack of diversity in the Theatre for Young Audiences sector led by Spark Arts for Children) and our Artistic Director provided mentoring sessions for an emerging artist through this programme. In addition, we began the research and development phase for two future productions, Belle and Sebastien (co-production with Bristol Old Vic Christmas 2022) and When the Birds Sang (co-production with Theatre Hullaballoo, spring/summer 2023). We also worked with artist Toby Thompson on ideas for Nina a new piece for young audiences building on the relationship that started with the egg and Travelling Light’s co-production I Wish I was a Mountain.

Future plans (April 2022-March 2023)

Following the successful pilot tour of Vixen, Travelling Light will return to national touring with a venue tour of Vixen from April 2022.

Belle and Sebastien, our Christmas co-production with Bristol Old Vic (originally planned for Christmas 2020) will be performed at Bristol Old Vic studio from Dec 2022-Jan 2023.

Our youth theatre groups will share their work in summer 2022 – performing in their first showcase events since February 2020.

We will continue the delivery of our two-year project Light Up School Learning, building on the discoveries of the first two terms.

We will continue to build and strengthen our community partnerships offering accessible creative holiday activities for local children and families, and workshops that inform our forthcoming productions.

Staffing and management

Our new Production Manager Becky Vowles was welcomed to the team in summer 2021, and has hit the ground running, successfully production managing Vixen, as it toured to schools among changing coronavirus rules within each setting.

Travelling Light’s projects and productions were made possible by our dedicated and committed staff team. During the year, our team began the return to office working, with a blend of home and remote working to support both flexible working and programme delivery.

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Travelling Light Theatre Company

Report of the trustees

For The Year Ended 31 March 2022

In June 2022 our Artistic Director was appointed as Artistic Director and CEO at Tobacco Factory Theatres and will be leaving Travelling Light in December 2022. The Board is appointing a new Artistic Director in autumn 2022 to start in early 2023 and will be supporting the company in the transition to new artistic leadership.

Financial overview

Travelling Light finished the year with income of £374,114. 60% of income was from public funding, 31% from grants and donations and 9% from earned/other income.

During the year our work benefited from several multi-year grants from Trusts and Foundations, this included two-year funding from Paul Hamlyn Foundation of £108,500 for Light Up School Learning (starting July 2021), three-year funding of £29,942 from Children in Need for Louder Than Words (starting Sep 2021) and an additional three-year unrestricted grant of £105,000 from Coutts Charitable Foundation (starting Dec 2021).

We received £8,306 from individual donations throughout the year, including £2,088 from a successful crowdfunding campaign for ActionSpeak and Louder Than Words. Income from regular gifts increased from £3,530 in 2020-21 to £4,060 in 2021-22. With thanks to the Travelling Light Friends and donors for supporting our work this year.

The coronavirus pandemic significantly impacted earned income from productions, and income remained significantly below pre pandemic levels in 2021-22, with a modest income of £7,580 from the Vixen schools tour in Sep 2021. The trustees view 2021-2023 as a two-year recovery period, with a national tour and Christmas co-production in 2022 enabling us to rebuild relationships with audiences and venues and further increase earned income. Due to the ongoing impact of the pandemic on wider sector recovery and the impact of inflation and the cost of living crisis it is expected that income from ticket sales and direct sales to venues will not fully recover to pre-pandemic levels over the next two years.

Overall, the year finished with a surplus of £40,127 which largely related to the donation of £35,000 from Coutts Charitable Foundation in Jan 2022, which was additional to our funding targets for the year and mostly carried forward as a Designated Fund into 2022-23.

Applications for extension funding from Arts Council England and Bristol City Council were successful, meaning that existing core funding was continued until April 2023. In May-June 2022 we re-applied for National Portfolio Organisation funding from Arts Council England and Openness funding from Bristol City Council.

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Travelling Light Theatre Company

Report of the trustees

For The Year Ended 31 March 2022

Reserves and designated funds

The trustees have put a reserves policy in place to ensure that the company has sufficient funds to continue its core activity through unpredictable circumstances such as the withdrawal of funding or unexpected expenditure. This policy continues to be reviewed in light of the ongoing impact of the COVID-19 pandemic on the theatre sector, the impact of cost of living crisis and high inflation, and uncertainty across the sector regarding Arts Council England’s decisions on their National Portfolio from 2023 onwards.

The trustees have calculated that a figure of £133,353 would be required if the company needed to be wound down. This includes six months running costs and redundancy costs for core staff. This was increased from 6 months running costs in the previous year due to the COVID-19 pandemic and will continue at that level due to the uncertainty of public funding, especially due to awaiting a funding decision from Arts Council England for our next four years investment.

At 31 March 2022, we have a General Fund of £226,481, which leaves a figure of £93,128 once wind down costs are removed.

The trustees have allocated these reserves to mitigate against the following financial risks:

This leaves £50,222 to allocate in the 2022-24 budgets to mitigate against the increased costs of return to national touring with reduced income due to the ongoing impact of the pandemic on sector recovery and the cost of living crisis.

Designated funds

The trustees have reviewed our current Designated Funds in line with our future plans:

The trustees have also created a Designated Fund to carry forward unrestricted funds of £31,659 from Coutts Charitable Foundation into 2022-23.

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Travelling Light Theatre Company

Report of the trustees

For The Year Ended 31 March 2022

Structure governance and management

The organisation is a charitable company limited by guarantee, incorporated on 12 September 1990 and registered as a charity on 24 October 1997.

The company was established under a Memorandum of Association which sets out the objectives and powers of the company and is governed by the Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding one pound.

The directors of the company are also charity trustees and for the purpose of charity law and throughout this report they are collectively referred to as the trustees. As set out in the articles of association, the number of trustees should not be less than 3 or more than 12. All trustees who have served for three years from the date of their election must retire. A retiring board member shall be eligible for re-election provided he or she has served for a period of less than six years. A trustee who has served six years must retire at the AGM which takes place at the end of their sixth year in office and will be eligible to stand for re-election to the board of trustees after one year.

New trustees are recruited from open advertising and recently the company has recruited 4 new trustees, working with BeOnBoard, Reach Volunteering and local network Up Our Street. The company endeavours to recruit people who have the necessary skills as well as a keen interest in Travelling Light’s work, knowledge and understanding of our community and a shared belief in our charitable mission and values. New trustees undergo an induction process that begins before they are co-opted and are offered mentoring and/or training until they have settled on to the board.

The board of trustees meets quarterly, and a finance subcommittee also meets prior to board meetings to examine the company finances in detail and make recommendations to the board. This includes management of financial risk through reviewing progress against fundraising targets and developing new income streams. An artistic subcommittee meets as needed to ensure board oversight of our artistic programme.

The company’s programme of work is set out in the business plan which is developed by the senior management in consultation with the board. This plan ensures that the programme fulfils the company’s strategic aims and guides its direction of travel. Decisions about any significant changes to the plan, particularly finances, must be taken to the trustees for approval. The company operates a two headed leadership model, with the Artistic Director and Executive Director acting as joint CEOs and reporting directly to the board.

The company operates a risk register that identifies significant risks which have the potential to seriously impact on its sustainability and future. The trustees monitor the risk register on a quarterly basis and agree on any mitigating actions needed. The risk register is costed to ensure any financial risks are taken into account when reviewing the company’s reserves policy. The finance committee is integral to the management of financial risk by scrutinising the financial accounts of the company before they are presented to the full board.

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Travelling Light Theatre Company

Report of the trustees

For The Year Ended 31 March 2022

Statement of responsibilities of the trustees

The trustees (who are also directors of the charity for the purposes of company law) are responsible for preparing the trustees' 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 Generally 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 charity and of the income and expenditure of the charity for that period. In preparing those financial statements the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees 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.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees at 31 March 2022 was 24. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

Independent examiners

Godfrey Wilson Limited were re-appointed as the charitable company's independent examiners during the year and have expressed their willing to continue in that capacity.

Approved by the trustees on 18 October 2022 and signed on their behalf by

Ian Stickland

Ian Stickland - Chair

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Independent examiners' report

To the trustees of

Travelling Light Theatre Company

I report to the trustees on my examination of the accounts of Travelling Light Theatre Company (the charitable company) for the year ended 31 March 2022, which are set out on pages 15 to 35.

Responsibilities and basis of report

As the trustees of the charitable company (and also its directors 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’).

Having satisfied myself that the accounts of the charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charitable company'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 examiner’s statement

Since the charitable company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.

Godfrey Wilson Limited also provides VAT services to the charitable company. I confirm that as a member of the ICAEW I am subject to the FRC’s Revised Ethical Standard 2016, which I have applied with respect to this engagement.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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Independent examiners' report

To the trustees of

Travelling Light Theatre Company

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.

William Guy Blake

Date: 18 October 2022

William Guy Blake ACA

Member of the ICAEW

For and on behalf of:

GODFREY WILSON LIMITED

Chartered Accountants & Statutory Auditors 5th Floor, Mariner House 62 Prince Street Bristol BS1 4QD

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Travelling Light Theatre Company

Statement of Financial Activities (Incorporating an Income and Expenditure Account)

For The Year Ended 31 March 2022

Restricted
Unrestricted
Note
£
£
Income from:
Donations and Legacies
3
2,088
267,472
Charitable Activities:
4
Productions & R&D
-
15,912
Participation & Community
72,531
13,264
Other Trading Activities
5
-
2,207
Investment Income
-
640
Total Income
74,619
299,495
Expenditure on:
Raising Funds
-
39,693
Charitable Activities:
Productions & R&D
-
122,784
Participation & Community
56,608
114,902
Total Expenditure
7
56,608
277,379
8
18,011
22,116
Reconciliation of Funds
Total Funds Brought Forward
11,447
339,651
Total Funds Carried Forward
29,458
361,767
Net Income and Net Movement in
Funds		 2022
Total
£
269,560
15,912
85,795
2,207
640
374,114
39,693
122,784
171,510
333,987
40,127
351,098
391,225		 2021
Total
£
244,091
600
47,698
370
580
293,339
52,503
67,251
149,322
269,076
24,263
326,835
351,098

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 16 to the accounts.

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Travelling Light Theatre Company

Balance Sheet

As at 31 March 2022

Note
Fixed Assets
Tangible Fixed Assets
11
Current Assets
Debtors
12
Cash at Bank and in Hand
Creditors: Amounts Due Within 1 Year
13
Net Current Assets
Net Assets
15
Funds
Restricted Funds
Unrestricted Funds:
Designated Funds
General Funds
Total Funds
16		 £
20,536
393,583
414,119
(26,521)		 2022
£
3,627
387,598
391,225
29,458
135,286
226,481
391,225		 2021
£
2,368
7,353
354,429
361,782
(13,052)
348,730
351,098
11,447
102,977
236,674
351,098

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

For the year ended 31 March 2022, the charitable company was entitled to the exemption under section 477(2) of the Companies Act 2006.

No notice has been deposited under section 476 in relation to its accounts for the year ended 31 March 2022 and no members have requested an audit.

The directors acknowledge their responsibilities for ensuring that the company keeps accounting records complying with section 386; and preparing accounts which give a true and fair view of the state of affairs of the company as at 31 March 2022, and of its profit or loss for the financial year in accordance with sections 394 and 395, and which otherwise comply with the requirements of the Companies Act 2006.

Approved by the trustees on 18 October 2022 and signed on their behalf by

Ian Stickland

Ian Stickland - Chair

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Travelling Light Theatre Company

Notes to The Financial Statements

For The Year Ended 31 March 2022

1. Accounting Policies

a) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Travelling Light Theatre Company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

b) Going concern basis of accounting

The accounts have been prepared on the assumption that the charity is able to continue as a going concern. The charity holds unrestricted, general reserves of £226,481, designated reserves that can be drawn down if necessary of £135,286, and a cash balance of £393,583. The charity also has confirmed core funding for the next 12 months. In light of this, the trustees consider that the charity has sufficient unrestricted reserves and cash flow to continue as a going concern for a period of at least 12 months from the date on which these financial statements are approved. For this reason, the accounts have been prepared on the going concern basis.

c) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from the government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received in advance of provision of performances or services to be delivered is deferred until criteria for income recognition are met.

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Travelling Light Theatre Company

Notes to The Financial Statements

For The Year Ended 31 March 2022

1. Accounting Policies (continued)

d) Donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable, and the economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

e) 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.

f) Funds accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.

g) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

h) Allocation of support and governance costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities.

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Travelling Light Theatre Company

Notes to The Financial Statements

For The Year Ended 31 March 2022

1. Accounting Policies (continued)

h) Allocation of support and governance costs (continued)

Expenditure is allocated to the particular activity where the cost relates directly to that activity. Support and governance costs are apportioned on the basis of staff time as follows:

2022 2021
Raising Funds 15.0% 23.5%
Productions & R&D 39.2% 23.6%
Participation & Community 45.8% 52.9%

i) Tangible fixed assets

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Motor Vehicles 7 years straight line
Office Equipment 4 years straight line

Items of equipment are capitalised where the purchase price exceeds £1,000.

j) Debtors

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

k) Cash at bank and in hand

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

l) Creditors

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

m) Financial instruments

The charitable company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently recognised at amortised cost using the effective interest method.

19

Travelling Light Theatre Company

Notes to The Financial Statements

For The Year Ended 31 March 2022

1. Accounting Policies (continued)

n) Pension costs

The charitable company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charitable company in an independently administered fund. Pension costs charged in the financial statements represent the contribution payable by the charity during the year.

o) Accounting estimates and key judgements

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below.

Depreciation

As described in note 1i to the financial statements, depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. Depreciation rates in operation during the current and prior period were as follows:

Motor Vehicles Office Equipment

7 years straight line 4 years straight line

20

Travelling Light Theatre Company

Notes to The Financial Statements

For The Year Ended 31 March 2022

2. Statement of Financial Activities: Prior Period Comparative

Income from:
Donations and Legacies
Charitable Activities
Productions & R&D
Participation & Community
Other Trading Activities
Investment Income
Total Income
Expenditure on:
Raising Funds
Charitable Activities
Productions & R&D
Participation & Community
Total Expenditure
Net Income and Net Movement in Funds
3.
Income from Donations and Legacies
Arts Council NPO Funding
Coutts Foundation
Bristol City Council
General Donations
Coronavirus Job Retention Scheme
Total donations and legacies		 Restricted
£
248
-
44,831
-
-
45,079
-
-
36,141
36,141
8,938
Restricted
£
-
-
-
2,088
-
2,088		 £
243,843
600
2,867
370
580
248,260
52,503
67,251
113,181
232,935
15,325
£
205,717
35,000
13,600
6,218
6,937
267,472
Unrestricted
Unrestricted		 2021
Total
£
244,091
600
47,698
370
580
293,339
52,503
67,251
149,322
269,076
24,263
2022
Total
£
205,717
35,000
13,600
8,306
6,937
269,560

21

Travelling Light Theatre Company

Notes to The Financial Statements

For The Year Ended 31 March 2022

3. Income from Donations and Legacies: Prior Period Comparative

Arts Council NPO Funding
Coronavirus Job Retention Scheme
Bristol City Council
General Donations*
Total donations and legacies		 Restricted
£
-
-
-
248
248		 £
205,717
16,496
13,600
8,030
243,843
Unrestricted		 2021
Total
£
205,717
16,496
13,600
8,278
244,091

*Included within general donations are gifts in kind of £734 for discounted books.

4. Income from Charitable Activities

Productions & R&D:
Performance Fees & Sales
Theatre Tax Credit
Total Productions & R&D income
Participation & Community:
Paul Hamlyn Foundation
Workshop and Performance Fees
Children in Need
National Lottery - Awards for All
Joyce Fletcher Charitable Foundation
Bristol City Council
Quartet Foundation
Total Participation & Community Income		 Restricted
£
-
-
-
Restricted
£
48,500
-
9,999
9,932
2,000
1,500
600
72,531		 £
7,580
8,332
15,912
£
-
13,264
-
-
-
-
-
13,264
Unrestricted
Unrestricted		 2022
Total
£
7,580
8,332
15,912
2022
Total
£
48,500
13,264
9,999
9,932
2,000
1,500
600
85,795

22

Travelling Light Theatre Company

Notes to The Financial Statements

For The Year Ended 31 March 2022

4. Income from Charitable Activities: Prior Period Comparative

Productions & R&D:
Performance Fees & Sales
Participation & Community:
National Lottery - Awards for All
Postcode Community Trust
John James Foundation
School and Participant workshop fees
Quartet Coronavirus Emergency grant
Arts Council England Project grant
Joyce Fletcher Charitable Foundation
Burges Salmon Charitable Foundation
Total Participation & Community Income
Income from Other Trading Activities
Royalties
Other Income
Room Hire
Fees for Staff Time
Total Other Trading Income		 Restricted
£
-
-
-
-
-		 Restricted
£
-
Restricted
£
19,948
14,241
2,934
-
2,853
2,705
2,000
150
44,831
£
1,089
753
365
-
2,207
Unrestricted		 £
600
£
-
-
-
2,867
-
-
-
-
2,867
2022
Total
£
1,089
753
365
-
2,207
Unrestricted
Unrestricted		 2021
Total
£
600
2021
Total
£
19,948
14,241
2,934
2,867
2,853
2,705
2,000
150
47,698
2021
Total
£
25
-
45
300
370

5. Income from Other Trading Activities

All income from other trading activities in the prior year was unrestricted.

23

Travelling Light Theatre Company

Notes to The Financial Statements

For The Year Ended 31 March 2022

6. Government grants

2022 2021
Restricted Unrestricted Total Total
£ £ £ £
Arts Council NPO Funding - 205,717 205,717 205,717
Bristol City Council: Key Arts Provider - 13,600 13,600 13,600
Awards for All: ActionSpeak 9,932 - 9,932 -
Coronavirus Job Retention Scheme - 6,937 6,937 16,496
Bristol City Council: Holiday Activities fund 1,500 - 1,500 -
Arts Council England Project grant - - - 2,705
Awards for All: Covid 19 Response grant - - - 9,986
Awards for All: Family & Community grant - - - 9,962
Total Government Grants 11,432 226,254 237,686 258,466

24

Travelling Light Theatre Company

Notes to the Financial Statements

For The Year Ended 31 March 2022

7.
Total Expenditure
Staff Costs (Note 10)
Touring & Production Costs
Rent, Rates, Heat & Light
Telephone, Postage & Stationery
Repairs & Maintenance
Bank Charges
Accountancy
Professional Fees
Training & Recruitment
Affiliations & Subscriptions
Marketing
Insurance
Hospitality
Computer Software & Support
Travel & Subsistence
Depreciation
Irrecoverable VAT
Subtotal
Reallocation of support and governance costs
Total Expenditure		 Raising Funds
£
26,287
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
26,287
13,406
39,693		 £
78,795
3,442
-
15
-
-
-
-
40
-
4,502
-
107
-
880
-
-
87,781
35,003
122,784
Productions &
R&D		 £
119,604
1,438
1,498
178
599
-
-
-
1,248
-
4,356
-
189
173
1,266
-
-
130,549
40,961
171,510
Participation &
Community		 £
27,432
161
27,907
8,346
2,880
3
2,582
1,848
3,464
1,752
1,442
1,966
1,379
1,953
1,946
1,491
2,818
89,370
(89,370)
-
Support &
Governance		 2022 Total
£
252,118
5,041
29,405
8,539
3,479
3
2,582
1,848
4,752
1,752
10,300
1,966
1,675
2,126
4,092
1,491
2,818
333,987
-
333,987

Total governance costs in the year were £2,050 (2021: £1,950).

25

Travelling Light Theatre Company

Notes to the Financial Statements

For The Year Ended 31 March 2022

7.
Total Expenditure: Prior Period Comparative
Staff Costs (Note 10)
Touring & Production Costs
Rent, Rates, Heat & Light
Telephone, Postage & Stationery
Repairs & Maintenance
Bank Charges
Accountancy
Professional Fees
Training & Recruitment
Affiliations & Subscriptions
Marketing
Insurance
Hospitality
Computer Software & Support
Travel & Subsistence
Depreciation
Irrecoverable VAT
Subtotal
Reallocation of support and governance costs
Total Expenditure		 Raising Funds
£
33,343
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
33,343
19,160
52,503		 £
45,904
1,564
-
132
-
-
-
-
-
-
-
-
62
-
325
-
-
47,987
19,264
67,251
Productions &
R&D		 £
96,650
7,509
140
74
-
-
-
-
340
-
700
-
500
72
91
-
-
106,076
43,246
149,322
Participation &
Community		 £
21,158
(8)
28,468
4,962
5,033
10
2,355
1,788
1,208
1,859
1,383
2,321
379
2,883
3,298
1,946
2,627
81,670
(81,670)
-
Support &
Governance		 2021 Total
£
197,055
9,065
28,608
5,168
5,033
10
2,355
1,788
1,548
1,859
2,083
2,321
941
2,955
3,714
1,946
2,627
269,076
-
269,076

26

Travelling Light Theatre Company

Notes to the Financial Statements

For The Year Ended 31 March 2022

8. Net Movement in Funds

This is stated after charging:

Net Movement in Funds
This is stated after charging:
2022 2021
£ £
Depreciation 1,491 1,946
Operating Lease Payments 1,063 900
Trustees' Reimbursed Expenses Nil Nil
Trustees' Remuneration Nil Nil
Independent Examiners' Remuneration:
Independent Examination 2,050 1,950
Accountancy Services 533 205

9. Staff Costs and Numbers

Salaries and Wages
Social Security Costs
Pension Costs
Freelance Fees		 2022
£
204,543
9,375
7,971
30,229
252,118		 2021
£
153,980
7,515
7,033
28,527
197,055

No employee earned more than £60,000 during the year (2021: Nil).

The key management personnel of the charity are considered to be the trustees and the Executive Director and Artistic Director. The total employee benefits for the key management personnel during the year was £74,806 (2021: £69,476).

The average head count for the year was 18.7 (2021: 11.9).

2022 2021
No. No.
Average number of employees (full-time equivalent) 6.0 4.9

10. Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

27

Travelling Light Theatre Company

Notes to the Financial Statements

For The Year Ended 31 March 2022

11. Tangible Fixed Assets

Cost
At 1 April 2021
Additions
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
Debtors
Trade Debtors
Prepayments
Other Debtors
VAT		 £
20,798
2,750
23,548
18,430
1,491
19,921
3,627
2,368
Equipment		 Motor
Vehicles
£
30,285
-
30,285
30,285
-
30,285
-
-
2022
£
2,538
9,666
8,332
-
20,536		 Total
£
51,083
2,750
53,833
48,715
1,491
50,206
3,627
2,368
2021
£
133
4,669
1,221
1,330
7,353

12. Debtors

28

Travelling Light Theatre Company

Notes to the Financial Statements

For The Year Ended 31 March 2022

13. Creditors : Amounts Due Within 1 Year

Trade Creditors
Other Creditors
Accruals
Other Taxation & Social Security
VAT
Deferred Income (Note 15)
14. Deferred Income
At 1 April 2021
Deferred income during the year
Released during the year
At 31 March 2022		 2022
£
3,038
1,021
13,393
3,469
350
5,250
26,521
2022
£
-
5,250
-
5,250		 2021
£
2,345
785
7,092
2,830
-
-
13,052
2021
£
285
-
(285)
-

Deferred income relates to performances or services invoiced before the year end, but to be delivered in a later period.

29

Travelling Light Theatre Company

Notes to the Financial Statements

For The Year Ended 31 March 2022

15. Analysis of Net Assets Between Funds

Analysis of Net Assets Between Funds
Restricted Designated General Total
Funds Funds Funds Funds
£ £ £ £
Tangible Fixed Assets - 3,627 - 3,627
Current Assets 29,458 131,659 253,002 414,119
Current Liabilities - - (26,521) (26,521)
Net Assets at 31 March 2022 29,458 135,286 226,481 391,225
Analysis of Net Assets Between Funds: Prior Period Comparative
Restricted Designated General Total
Funds Funds Funds Funds
£ £ £ £
Tangible Fixed Assets - 2,368 - 2,368
Current Assets 11,447 100,609 249,726 361,782
Current Liabilities - - (13,052) (13,052)
Net Assets at 30 March 2021 11,447 102,977 236,674 351,098

15. Analysis of Net Assets Between Funds: Prior Period Comparative

30

Travelling Light Theatre Company

Notes to the Financial Statements

For The Year Ended 31 March 2022

16. Movements in Funds

Movements in Funds
Restricted Funds
Paul Hamlyn Foundation
Children in Need
Awards for All: ActionSpeak
Joyce Fletcher Charitable Foundation
Awards for All: Family & Community Grant
Burges Salmon Charitable Foundation
General Donations: ActionSpeak
General Donations: Louder Than Words
Bristol City Council: Holiday Activities Fund
John James Foundation
Postcode Lottery Fund
Quartet Community Foundation
Designated Funds:
Website
Coutts Foundation
Freelance Production Support
Research and Development
Investment in key equipment
Training Fund
Fixed Assets Fund
Organisational Development Fund
Van Replacement Fund
Total Designated Funds
General Funds
Total Funds
Total Restricted Funds
Unrestricted Funds
Total Unrestricted Funds		 At 1 April
2021
£
-
-
-
2,000
2,036
150
-
248
-
2,934
4,079
-
11,447
25,000
-
-
-
-
5,000
2,368
40,324
30,285
102,977
236,674
339,651
351,098		 £
48,500
9,999
9,932
2,000
-
-
2,088
-
1,500
-
-
600
74,619
-
35,000
-
-
-
-
-
-
-
35,000
264,495
299,495
374,114
Income		 £
(29,540)
(5,762)
(5,671)
(2,000)
(2,036)
(150)
(2,088)
(248)
(1,500)
(2,934)
(4,079)
(600)
(56,608)
-
(3,341)
-
-
-
-
-
-
-
(3,341)
(274,038)
(277,379)
(333,987)
Expenditure		 £
-
-
-
-
-
-
-
-
-
-
-
-
-
15,000
-
20,000
20,000
15,000
-
1,259
(40,324)
(30,285)
650
(650)
-
-
Transfers
Between
Funds		 At 31
March
2022
£
18,960
4,237
4,261
2,000
-
-
-
-
-
-
-
-
29,458
40,000
31,659
20,000
20,000
15,000
5,000
3,627
-
-
135,286
226,481
361,767
391,225

31

Travelling Light Theatre Company

Notes to the Financial Statements

For The Year Ended 31 March 2022

16. Movements in Funds: Prior Period Comparative

Restricted Funds
Postcode Lottery Fund
John James Foundation
Awards for All: Family & Community Grant
Joyce Fletcher Charitable Foundation
General Donations: Louder Than Words
Burges Salmon Charitable Foundation
Arts Council England Project Grant
Awards for All: Covid 19 Response Grant
Big Lottery Youth Investment Fund
Quartet Coronavirus Emergency Grant
Total Restricted Funds
Unrestricted Funds
Designated Funds:
Organisational Development Fund
Van Replacement Fund
Website
Training Fund
Fixed Assets Fund
Total Designated Funds
General Funds
Total Unrestricted Funds
Total Funds		 At 1 April
2020
£
-
-
-
-
-
-
-
-
2,509
-
2,509
40,324
30,285
-
-
16,484
87,093
237,233
324,326
326,835		 £
£
14,241
(10,162)
2,934
-
9,962
(7,926)
2,000
-
248
-
150
-
2,705
(2,705)
9,986
(9,986)
-
(2,509)
2,853
(2,853)
45,079
(36,141)
-
-
-
-
-
-
-
-
-
-
-
-
248,260
(232,935)
248,260
(232,935)
293,339
(269,076)
Expenditure
Income		 £
-
-
-
-
-
-
-
-
-
-
-
-
-
25,000
5,000
(14,116)
15,884
(15,884)
-
-
Transfers
Between
Funds		 At 31
March
2021
£
4,079
2,934
2,036
2,000
248
150
-
-
-
-
11,447
40,324
30,285
25,000
5,000
2,368
102,977
236,674
339,651
351,098

32

Travelling Light Theatre Company

Notes to the Financial Statements

For The Year Ended 31 March 2022

16. Movements in Funds: Purposes of Restricted funds

Paul Hamlyn Foundation A grant to support Light Up School Learning programme - Teacher Development Fund.

Children in Need A grant to support Louder Than Words programme for disabled children. Awards for All: A grant to support ActionSpeak programme for young disabled people. ActionSpeak Joyce Fletcher Charitable A grant to support ActionSpeak programme for young disabled people. Foundation Awards for All: Family & A grant to support Family and Community programme in 2020-21. Community Grant Burges Salmon Charitable Grants to support Louder Than Words programme for disabled children. Foundation General Donations: Donations towards the ActionSpeak programme. ActionSpeak General Donations: Louder Donations towards the Louder Than Words programme. Than Words Bristol City Council: A grant to support holiday activities for children in Barton Hill over the summer Holiday Activities Fund 2021 holidays - Holiday Hub fund. John James Foundation Grants to support Louder Than Words programme for disabled children. Postcode Lottery Fund A grant to support ActionSpeak programme for young disabled people. Quartet Community A grant to support holiday activities for children in Barton Hill over October and Foundation February half term holidays.

33

Travelling Light Theatre Company

Notes to the Financial Statements

For The Year Ended 31 March 2022

16. Movements in Funds: Purposes of Designated Funds

Website A fund for the development of a new website in 2023 and subsequent website updates.

Freelance Production Reallocated from the organisational development fund to fund freelance producer Support fees for production support for two years from 2022-2024. Research and Development Reallocated from the organisational development fund to fund future research and development.

Van Replacement Fund This fund represents the expected funds required to replace the charity's van if sold at its net book value. The trustees have decided to remove this designated fund during the year.

Purposes of Transfers Between Funds

To reallocate designated funds to meet the charity's requirements for future needs.

17. Operating Lease Rentals

The charity had operating leases at the year end with total future minimum lease payments as follows:

Amount falling due:
Within 1 year
Within 1 - 5 years		 2022
£
654
2,451
3,105		 2021
£
900
225
1,125

34

Travelling Light Theatre Company

Notes to the Financial Statements

For The Year Ended 31 March 2022

18. Related Party Transactions

The trustees are not aware of any related party transactions during the current or prior year.

35