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2022-03-31-accounts

Charity registration number 1076764

Company registration number 03715349 (England and Wales)

NORTHERN BROADSIDES THEATRE COMPANY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

NORTHERN BROADSIDES THEATRE COMPANY

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Fiona Hockneo Whyton (known as
Fiona Goh)
Sarah Horne
Rebecca Yorke
Patsy Louise Gilbert
Safoora Masood Mirza
Daniel James O'Gorman
Leo Marcus Wan
Deborah Jane Baker (known as
Debbie Richards)
Pamela Bhupal (Appointed 2 March 2022)
Alicia McKenzie (Appointed 2 March 2022)
Jesse Scott (Appointed 2 March 2022)
Lucinda Anne Harvey (Appointed 17 October 2022)
Secretary Katie English
Artistic Director Laurie Sansom
Charity number 1076764
Governing document Memorandum & Articles of Association
Company number 03715349
Registered office Fletchers Mill
Dean Clough
Halifax
West Yorkshire
HX3 5AX
Independent examiner GBAC Limited
Old Linen Court
83-85 Shambles Street
Barnsley
South Yorkshire
S70 2SB
Bankers Barclays Bank PLC
39 Commercial Street
Halifax
HX1 1BE

NORTHERN BROADSIDES THEATRE COMPANY

CONTENTS

Page
Trustees' report 1 - 7
Independent examiner's report 8
Statement of financial activities 9
Balance sheet 10
Statement of cash flows 11
Notes to the financial statements 12 - 20

NORTHERN BROADSIDES THEATRE COMPANY

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2022

The trustees present their report and accounts for the year ended 31 March 2022. The legal and administrative information forms part of this report.

The financial statements have been prepared in accordance with current statutory requirements and comply with the company's memorandum and articles of association. The directors of the charitable company ("the charity") are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees.

Objectives and activities

Charitable Objectives

The company's charitable objectives are to promote, maintain, improve and advance education, particularly by encouragement of the Arts, including the Arts of Drama, Ballet, Music, Singing, Literature, Sculpture and Painting with particular reference to presenting new texts and adaptations of classical texts in a manner firmly rooted in the North of England.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the company should undertake.

Northern Broadsides Theatre Company provides access to the arts for the community throughout the Yorkshire region and beyond. The company tours the UK and internationally giving performances of classical and new plays that are dramatic, educational and fun. The company's venues include theatres and educational establishments. Theatrical workshops are also carried out in association with various schools.

Public Benefit Reporting

The trustees consider they have complied with the duty in section 17(5) of the Charities Act 2011 having due regard to the public benefit guidance published by the Charities Commission.

NORTHERN BROADSIDES THEATRE COMPANY

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2022

Chair's report

It has been a challenging year for the company as we planned to emerge from the pandemic and deliver a bold programme of creative work, both continuing our increased digital engagement and taking Northern Broadsides back into theatres across the UK. Like many organisations, we had to adapt to the constantly changing landscape of the pandemic and evolve our work to meet the different behaviours and priorities of audiences, venues and partners. Broadsides’ increased digital presence and engagement was a real triumph, and the new audiences that we welcomed on tour reflect our translation of the company’s 30-year history of irreverent and groundbreaking work for a new world.

As You Like It

In our 30th year, this bold new co-production with New Vic Theatre was Broadsides’ first presentation of Shakespeare’s joyous comedy, and our diverse cast of 12 actors celebrated the playfulness of Arden, where hierarchies and identities are dissolved. As many organisations found, the climate for creating and showing work was extremely challenging and despite critical acclaim and the work finding new audiences, touring in the landscape of Omicron brought many logistical and financial challenges, and many audiences were simply unready to return to live performance. We were delighted to be able to establish relationships with new venues on the touring circuit, including Theatr Clwyd and Perth Theatre, as well as building on strong existing partnerships with venues such as York Theatre Royal, The Dukes and The Lowry.

Digital work

We continued to expand our digital work, which crucially enabled us to establish such an important and flexible presence during Covid. We created the Beyond These Walls film, increasing the audience for the four poetic shorts by Tennessee Williams that we had performed at Sheffield Crucible Studio. Our Northern Voice series of eight podcasts, recorded in lockdown, embraced the Northern Voice in all its glory, confounding expectations of what it means to be Northern today whilst exploring disability, migration, class, ethnicity, accent, gender and sexuality. We explored a fantastic range of writing in our ten Tales of Christmas podcast, from Dickens to Ian McMillan to Hina Gillani, one of the writers in our St Augustine’s Centre writing group for refugees and people seeking asylum. We continued to develop our work with the Young Writers’ Forge, ten emerging writers aged 16-25 based across the North, using workshops, play readings and one-on-one script surgeries to support their writing development.

Community work

As part of our growing commitment to engaging more deeply with our communities in Calderdale, we have built on our partnership with St Augustine’s – Halifax’s specialist centre for people seeking asylum and refugees. During 2021/22, Northern Broadsides has been delivering weekly writing, performance and poetry sessions, giving participants the chance to perform their work in a sharing event.

OF, BY, FOR ALL

In February 2022, we were proud to renew our membership of the OF/BY/FOR ALL Change Network. This is a diverse, cross-sector membership representing some 80 civic and cultural organisations of all sizes from 8 countries across the world. Our membership supports Broadsides, alongside other members, in embedding practices that enable us to become of, by, and for our communities, through coaching on radical inclusion.

Personnel updates

Our staffing team grew during 2021/22 with the addition of Abi Shaw, a 6-month Kickstart Production Assistant, who began working in January 2022. The Kickstart scheme provides funding to employers to create jobs for 16 to 24 year olds on Universal Credit and our involvement helped us to support new pathways into the creative sector. In January 2022, Hallam Breen, who was previously on a placement year with us as part of his Birkbeck MFA in Theatre Directing, was engaged for a year as Resident Director and also took on Assistant Director duties on As You Like It. Hallam led our work with the Young Writers Forge and produced our Northern Voice and The Tales of Christmas podcasts. In February 2022, Shabina Aslam stepped down as Creative Engagement Producer to take up a new position with Theatre in the Mill in Bradford.

NORTHERN BROADSIDES THEATRE COMPANY

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2022

New Trustees

Our programme of board recruitment and development continued during 2021/22 with the addition of three new trustees, formerly members of the Art Squad. Pamela Bhupal, Alicia McKenzie and Jesse Scott joined Northern Broadsides’ board in March 2022 and Lucinda Harvey in October 2022.

I would like to thank the whole board and team for the commitment, creativity, professionalism and passion that they bring to Northern Broadsides and for their resilience during these times of change. There has never been a more important time for us to celebrate and challenge our common humanity, and to use the power of imagination and stories to shape a better future.

Fiona Goh

NORTHERN BROADSIDES THEATRE COMPANY

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2022

Achievements and performance April 2021 – March 2022

Beyond These Walls

Thanks to the support of the Culture Recovery Fund, Spring 2021 saw Northern Broadsides produce 4 new shorts by Tennessee Williams, as a play and a standalone film, at Sheffield Crucible Studio. These four poetic short plays explored the walls that separate us and how we imagine worlds beyond them. As the country began relaxing COVID-19 restrictions, Northern Broadsides took on the challenge of creating a safe rehearsal and production process and creating work for film for the first time, using local actors, filmmakers and crew. The film was released as ‘Video on Demand’ from 27 October – 31 January.

176 audience members attended the four socially distanced performances, and 86 audience members ‘paid what they felt’ for the filmed version. There were Audio Described, BSL and captioned versions available.

The Northern Voice

Meanwhile, Northern Broadsides created The Northern Voice: a second venture into podcasting. The series was hosted Creative Engagement Producer, Shabina Aslam and local actor Millie Gaston. The eight podcasts, recorded in lockdown, embraced the Northern Voice in all its glory, exploring disability, migration, class, ethnicity, accents, gender and sexuality, it confounded expectations of what it means to be Northern in the world of arts and culture today.

The podcast achieved 2,849 listens, was rated #17 in the category Performing Arts (Apple Podcasts) and led to great feedback: “A must listen for theatre professionals and goers, but also raising societal issues that everyone should engage with. Definitely worth a listen!”.

St Augustine’s

Northern Broadsides have continued the collaboration with St Augustine’s Centre in Halifax, to provide a free writing, poetry and performance session every Thursday to refugees and people seeking asylum in Halifax and surrounding areas. There is a loyal group who regularly attend, learning the basics of writing plays, developing new characters, and delving into Shakespeare.

In October 2021, emerging writers from St Augustine’s Centre in Halifax worked with Northern Broadsides, Counterpoint Arts and poet Khadijah Ibrahiim. The group performed their poetry for Halifax Festival of Words at the Temperance Movement Cafe.

The Tales of Christmas

In December 2021, Northern Broadsides released 10 Christmas tales in a now annual podcast series. Four commissions were offered to celebrated Yorkshire Poet Ian McMillan, Liverpool-based actor and writer Felix Mufti-Wright, Young Writer Max Bownas and Hina Gillani from our St Augustine’s writing group. 1,361 listens were achieved - “Ian McMillan’s beautiful Christmas tale brought a tear to my eye. Thank you”

As You Like It (AYLI)

Following an intensive process of open casting and open hire recruitment for crew, January 2022 saw Northern Broadsides begin rehearsals for William Shakespeare’s As You Like It, a new co-production with New Vic Theatre. In a landscape of the Omicron variant, COVID-19 concerns continued to affect audience behaviours, company health and wellbeing.

Throughout Feb – March 2022, there were 48 performances of AYLI, and 8,187 tickets issued (36% of capacity issued, 29% sold). Gross ticket income was £147,117.86 (with an average yield of £3,064.96 per performance and average ticket price of £26.29).

Young Writers

March 2022 saw Northern Broadsides launch a second year of the Young Writers Forge, A free playwriting group for new writers aged 16-25 in the North. Throughout 2022, the group met fortnightly with our Resident Director, in a series of workshops, script-readings and one-on-one surgeries, to develop their own short plays. The project culminates in an R&D workshop for each writer with professional actors, including a recorded extract of each piece.

NORTHERN BROADSIDES THEATRE COMPANY

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2022

Future plans and developments for 2022/23

In Spring 2023 we will remount our production of J.M. Barrie’s regency comedy Quality Street, opening with coproducers New Vic Theatre in Newcastle-under-Lyme before a 13 week tour across the country. This was our critically acclaimed production, cut short in 2020 due to the pandemic, that we made with a creation squad of retired workers from Halifax’s Quality Street workers who appear in the show as characters. We will be visiting some theatres new to Northern Broadsides including Devonshire Park Theatre and Royal & Derngate, Northampton as well as some venues in ACE priority areas such as Bolton Octagon and Blackpool Grand.

Our third season of Christmas podcasts, Winter Tales, will continue what is becoming a festive tradition, combining classic and established writers such as the Brontës and Simon Armitage, with work from our diverse Young Writers.

We will continue our playwrighting course, Young Writers’ Forge, for young people aged 16-25 from across the North for the second year, the culmination of which will be a sharing of their work performed by professional actors.

Our work with St. Augustine’s Centre for refugees and people seeking asylum will continue, delivering a weekly creative writing workshop, as well as for the first time a week-long residential course at Lumb Bank in Hebden Bridge, where 15 participants will work with two professional writers to develop their craft and perform their work.

We will continue to have an active involvement in many networks, including CalderdaleCreates, recently constituted as a new members’ network of cultural organisations and freelance artists across the Borough and leading on the creation of a new Cultural Strategy. This includes developing plans for our Borough wide project The Iron People, based on books by Ted Hughes about the environmental crisis, for which we have received seed funding from the Calderdale Culture Fund.

In July 2022, Kay Packwood stepped down as Executive Director. We would like to thank Kay for her long service with the company. At the time of writing the contract was being finalised with a new and experienced candidate who will be joining the team in April 2023 as Executive Director and Joint Chief Executive. We were pleased to retain our Arts Council funding in the 2023-6 National Portfolio round, allowing us to plan ahead and develop relationships with Shakespeare North Playhouse and other organisations in Priority Areas.

NORTHERN BROADSIDES THEATRE COMPANY

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2022

Financial review

Results of the year

The net expenditure from restricted funds results from depreciation of the costs associated with the redevelopment of the Viaduct theatre in 2016 and 2017. The company has secured a 10-year lease on the property and the costs are being depreciated over the life of the lease. It is important to note that these restricted funds represent neither funds that can be spent nor an asset that can realistically be sold. However, they represent a significant improvement to the infrastructure of the organisation which is intended to reduce costs and generate income for future years.

Reserves Policy

It is the policy of the Board of Trustees to keep sufficient reserves to ensure the sustainability of the charity and its ability to fulfil its objects for the foreseeable future. In common with the charitable sector as a whole, the Arts face uncertain times in terms of funding and the current economic climate combined with restrictions imposed during the Covid-19 pandemic, continues to place pressure on all forms of income. The financial challenges experienced in recent years, and during 2020 and 2021 in particular, demonstrate the importance of the reserves in ensuring the charity can maintain its existing levels of activity despite inevitable fluctuations in performance. The company is mindful of the need to ensure financial sustainability while looking for innovative ways to produce art during the current pandemic, and regularly looks for alternative funding streams to support this work.

During the financial year, the Board adopted a new reserves policy which set a recommended target range of reserves of £110,000 to £200,000. Since the end of the year, the range has been reviewed to reflect current circumstances and the upper end of the range has been increased to £225,000. The unrestricted reserves held at 31 March 2022 of £173,432 are within both the range in place at the end of the financial year and the updated range adopted after the end of the year. The level of reserves is reviewed throughout the year and if the level of reserves falls more than 20% outside the target range, the Board will consider actions needed to either increase or reduce the level of reserves held.

Risk management

The major risks to which the charity is exposed are continually reviewed and systems have been established in order to mitigate these risks.

Structure, governance and management

Trustees

The following have served on the Board of Trustees during the period: Fiona Hockneo Whyton (known as Fiona Goh) Sarah Horne Nicky Chance-Thompson (Resigned 26 May 2021) Nicola Goodway (known as Emma) (Resigned 30 September 2022) Rebecca Yorke Patsy Louise Gilbert Safoora Masood Mirza Daniel James O'Gorman Leo Marcus Wan Deborah Jane Baker (known as Debbie Richards)

NORTHERN BROADSIDES THEATRE COMPANY

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2022

Rachel Harris (Resigned 21 July 2021) Pamela Bhupal (Appointed 2 March 2022) Alicia McKenzie (Appointed 2 March 2022) Jesse Scott (Appointed 2 March 2022) Lucinda Anne Harvey (Appointed 17 October 2022)

Appointment of trustees

As set out in the articles of association the chair of the trustees is nominated and appointed by the existing trustees. The trustees have the power to co-opt further members in order to fulfil specialist roles. Open advertisement has been used to recruit new trustees and they are interviewed by a panel of existing trustees and members of the Executive before being invited to join the Board.

Trustee induction and training

New trustees undergo an induction to brief them on their legal obligations as required by charity and company law, the content of the memorandum and articles of association, decision making process, the business plan and recent financial performance of Northern Broadsides. During their induction, new trustees will meet key employees and other trustees.

The Organisation

There have been six members of the team during this period:-

Laurie Sansom - Artistic Director/ CEO Kay Packwood - Executive Director (resigned July 2022) Katie English - Finance Officer and Friends Co-ordinator Jess Rooney - Marketing and Communications Manager Shabina Aslam - Creative Engagement Producer (resigned February 2022) Hallam Breen - Resident Director

Contractual/freelance staff, all actors, technicians and marketing personnel are engaged throughout the year for particular projects/productions.

The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

Signed on behalf of the board of trustees

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

Fiona Hockneo Whyton (known as Fiona Goh) Trustee 20 December 2022 Dated: .........................

NORTHERN BROADSIDES THEATRE COMPANY

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF NORTHERN BROADSIDES THEATRE COMPANY

I report to the trustees on my examination of the financial statements of Northern Broadsides Theatre Company (the company) for the year ended 31 March 2022.

Responsibilities and basis of report

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the 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 company’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the 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 FCCA, which is one of the listed bodies.

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

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 financial statements to be reached.

Victoria Jane Harrison FCCA for and on behalf of GBAC Limited

Old Linen Court 83-85 Shambles Street Barnsley South Yorkshire S70 2SB

20 December 2022 Dated: .........................

NORTHERN BROADSIDES THEATRE COMPANY

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2022

Unrestricted
Restricted
funds
funds
2022
2022
Notes
£
£
Income and endowments from:
Donations and legacies
3
266,711
-
Charitable activities
6
315,895
-
Other trading activities
4
240
-
Investments
5
22
-
Other income
7
1,018
-
Total income
583,886
-
Expenditure on:
Charitable activities
9
560,412
38,312
Net income/(expenditure) for
the year/
Net movement in funds
23,474
(38,312)
Fund balances at 1 April 2021
149,958
220,194
Fund balances at 31 March
2022
173,432
181,882		 Total Unrestricted
Restricted
funds
funds
2022
2021
2021
£
£
£
266,711
293,977
-
315,895
11,876
-
240
19
-
22
57
-
1,018
40,900
-
583,886
346,829
-
598,724
325,790
33,558
(14,838)
21,039
(33,558)
370,152
128,919
253,752
355,314
149,958
220,194		 Total
2021
£
293,977
11,876
19
57
40,900
346,829
359,348
(12,519)
382,671
370,152

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

NORTHERN BROADSIDES THEATRE COMPANY

BALANCE SHEET

AS AT 31 MARCH 2022

Notes
Fixed assets
Tangible assets
12
Current assets
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within
one year
14
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
15
Unrestricted funds		 2022
£
73,593
119,099
192,692
(36,561)		 £
199,183
156,131
355,314
181,882
173,432
355,314		 2021
£
56,614
110,735
167,349
(30,031)		 £
232,834
137,318
370,152
220,194
149,958
370,152

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2022.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These accounts have been prepared in accordance with the provisions relating to small companies within Part 15 of the Companies Act 2006.

20 December 2022

The financial statements were approved by the Trustees on .........................

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

Fiona Hockneo Whyton (known as Fiona Goh)

Trustee

Company registration number 03715349

NORTHERN BROADSIDES THEATRE COMPANY

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022

Notes
Cash flows from operating activities
Cash generated from operations
20
Investing activities
Purchase of tangible fixed assets
Proceeds from disposal of tangible fixed
assets
Investment income received
Net cash (used in)/generated from
investing activities
Net cash used in financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2022
£
(7,799)
-
22		 £
16,141
(7,777)
-
8,364
110,735
119,099		 2021
£
(507)
2,433
57		 £
3,746
1,983
-
5,729
105,006
110,735

NORTHERN BROADSIDES THEATRE COMPANY

STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

1 Critical accounting estimates and judgements

In the application of the company’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2 Accounting policies

Charity information

Northern Broadsides Theatre Company is a private company limited by guarantee incorporated in England and Wales. The registered office is Fletchers Mill, Dean Clough, Halifax, West Yorkshire, HX3 5AX.

2.1 Accounting convention

The accounts have been prepared in accordance with the company's governing document, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The company is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

2.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. This expectation is based on having surplus unrestricted reserves at the year end of £173,432. The trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

2.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the company.

2.4 Income

Income is recognised when the company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

NORTHERN BROADSIDES THEATRE COMPANY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

2 Accounting policies

(Continued)

Legacies are recognised on receipt or otherwise if the company has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

2.5 Expenditure

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.

Charitable expenditure comprise those costs incurred by the charity in delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity.

2.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements 10 years on straight line basis Production equipment 25% reducing balance Fixtures, fittings & equipment 15% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

2.7 Impairment of fixed assets

At each reporting end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

2.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

2.9 Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

NORTHERN BROADSIDES THEATRE COMPANY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

2 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2.11 Retirement benefits

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. Contributions payable for the year are charged to the profit and loss account.

3 Donations and legacies

Unrestricted Unrestricted
funds funds
2022 2021
£ £
Donations and gifts 6,727 33,993
Arts Council Grant 259,984 259,984
266,711 293,977

NORTHERN BROADSIDES THEATRE COMPANY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

4 Other trading activities

Unrestricted Unrestricted Unrestricted Unrestricted
funds funds
2022 2021
£ £
Non-charitable trading activities 240 19
Investments
Unrestricted Unrestricted
funds funds
2022 2021
£ £
Interest receivable 22 57
Charitable activities
Box office and Programme Other grant Room hire Total Total
fee income sales income 2022 2021
2022 2022 2022 2022
£ £ £ £ £ £
Sales within charitable
activities 56,024 - 255,861 4,010 315,895 11,876
Other income
Unrestricted Unrestricted
funds funds
2022 2021
£ £
Other income 1,018 40,900

5 Investments

6 Charitable activities

7 Other income

NORTHERN BROADSIDES THEATRE COMPANY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

8
Support costs
Staff costs
Travel & subsistance
Transport costs
Insurance
Marketing & publicity
Wardrobe costs & other
direct costs
Royalties payable
Audit fees
Accountancy
Legal and professional
Postage and stationery
Telephone and internet
Premises costs
Sundry expenses
Bank charges
Analysed between
Charitable activities		 Support
costs
Governance
costs
£
£
292,386
-
34,879
-
6,631
-
12,515
-
12,995
-
100,128
-
88
-
-
2,500
-
1,455
-
7,689
-
6,866
-
2,214
-
14,999
-
11,790
-
139
459,622
47,652
459,622
47,652		 2022
£
292,386
34,879
6,631
12,515
12,995
100,128
88
2,500
1,455
7,689
6,866
2,214
14,999
11,790
139
507,274
507,274		 Support
costs
Governance
costs
£
£
172,501
-
2,884
-
-
-
13,171
-
20,030
-
15,284
-
-
-
-
2,000
-
2,675
-
6,980
-
7,995
-
2,420
-
13,661
-
7,050
-
149
223,870
42,930
223,870
42,930		 2021
£
172,501
2,884
-
13,171
20,030
15,284
-
2,000
2,675
6,980
7,995
2,420
13,661
7,050
149
266,800
266,800

NORTHERN BROADSIDES THEATRE COMPANY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

9 Charitable activities

Resources Resources
expended expended
from from
charitable charitable
activities activities
2022 2021
£ £
Staff costs 50,000 50,000
Depreciation and impairment 41,450 40,115
Loss on disposal - 2,433
91,450 92,548
Share of support costs (see note 8) 459,622 223,870
Share of governance costs (see note 8) 47,652 42,930
598,724 359,348
Analysis by fund
Unrestricted funds 560,412 325,790
Restricted funds 38,312 33,558
598,724 359,348
For the year ended 31 March 2021
Unrestricted funds 325,790
Restricted funds 33,558
359,348

10 Trustees

None of the trustees (or any persons connected with them) received any remuneration during the year.

NORTHERN BROADSIDES THEATRE COMPANY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

11 Employees

Number of employees

The average monthly number of employees during the year was:

Administration
Artists
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2022
Number
6
21
27
2022
£
312,552
16,486
13,348
342,386		 2021
Number
6
3
9
2021
£
202,357
9,231
10,913
222,501

There were no employees whose annual remuneration was £60,000 or more.

12 Tangible fixed assets

Leasehold
improvements
Production
equipment
Fixtures,
fittings &
equipment
£
£
£
Cost
At 1 April 2021
383,091
21,272
4,702
Additions
-
5,422
2,379
At 31 March 2022
383,091
26,694
7,081
Depreciation and impairment
At 1 April 2021
156,243
17,058
2,944
Depreciation charged in the year
38,309
2,508
621
At 31 March 2022
194,552
19,566
3,565
Carrying amount
At 31 March 2022
188,539
7,128
3,516
At 31 March 2021
226,851
4,215
1,768		 Total
£
409,065
7,801
416,866
176,245
41,438
217,683
199,183
232,834

NORTHERN BROADSIDES THEATRE COMPANY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

13 Debtors

Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income		 2022
£
1,118
-
72,475
73,593		 2021
£
40
3,934
52,640
56,614

14 Creditors: amounts falling due within one year

Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income		 2022
£
5,469
23,886
2,206
5,000
36,561		 2021
£
3,310
17,135
4,586
5,000
30,031

15 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Balance at Resources Balance at Resources Balance at
1 April 2020 expended 1 April 2021 expended 31 March 2022
£ £ £ £ £
Viaduct Improvements 253,752 (33,558) 220,194 (38,312) 181,882

Notes

The Viaduct Improvement fund comprises of donations and a capital grant from Arts Council England to improve the facilities at the venue. The closing balance represents the Net Book Value of the capital expenditure and will be released over the life of the assets.

16 Retirement benefit schemes

Defined contribution schemes

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £13,348 (2021: £10,913).The amount due to the fund at the end of 2022 was £2,206 (2021:£586). There were 3 employees that were in this scheme during 2022 (2020: 3).

NORTHERN BROADSIDES THEATRE COMPANY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

17
Analysis of net assets between funds
Unrestricted
Restricted
2022
2022
£
£
Fund balances at 31 March 2022 are
represented by:
Tangible assets
16,243
182,940
Net current assets
156,131
-
172,374
182,940
18
Related party transactions
There were no disclosable related party transactions during the year (2021 - none).
19
Analysis of changes in net funds
The company had no debt during the year.
20
Cash generated from operations
Deficit for the year
Adjustments for:
Investment income recognised in statement of financial activities
Depreciation and impairment of tangible fixed assets
Movements in working capital:
(Increase) in debtors
Increase in creditors
Cash generated from operations		 Total
2022
£
199,183
156,131
355,314		 Total
2021
£
232,834
137,318
370,152
2021
£
(12,519)
(57)
40,115
(25,079)
1,286
3,746
2022
£
(14,838)
(22)
41,450
(16,979)
6,530
16,141