REGISTERED COMPANY NUMBER: 03294035 ffjngIand and Wales) REGISTERED CHARITY NUMBER: 1079819 Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2024 for Small World Theatre Llmited Asbmole & Co Manchester House Grosvenor Hill Cardigan Ceredigion SA43 IHY A5hmole I Co.
SMAII World Theatre Llmlted Contents of the Financial Statements for the Year Ended 31 March 2024 Page Report of the Trustees I to 7 Independent Exanthier's Report ststement of Financial Activities Balance Sbeet 10 to 11 Notes to the Finlneial Ststemellts 12 to 19 Detailed Statement of Flnaneial Activities 20 to 21 Ashmole & Co.
Small World Theatre Limlted Report of the Trustee5 for Ihe Year Ended 31 March 2024 The TnteeS who are also the directors of the Charitsble Company for the purposes of the Companies Act, submit their annual report and the independently examined financial statements for the year ended 31 st March 2024. The Truslees hav¢ adopted the Stat¢m¢nt of Recommended PTactic¢ {SORP) "Accounting and Reporting by Charities" issued in 2005, and the Companies, Act 2006 in preparing the annual report and financial statements of the charity Page I Ashmol$ & Co.
Small World Theatre Limited Report of the Trustees for the Year Ended 31 March 2024 ACHIEVEMENT AND PERFORMANCE Charitable ¥dctivities Annual Report 2023124 OBJECTIVES AIYD ACTIvrrIES All Company oulputs support our core Visio ain]s and objectives.. Vision To learn from the past to create iti the presenL for the benefit of th¢ tre. Mission Ststement sn11 World Theatre exists to create exciting) innovative, enjoyable, high-quality perforneS and projects that challenge and explore assumptions about the world that we share. Small World Theatre places particular importance on clinthte justice. creativity and inclusivity. Small World Theatre enables diveTbC ¢ommunities in Wales to flourish through their engagement with the arts. Small World Theatre engages with communities and other partners to c(Fcreate work expressing their ideas andlor the reality of their lived experiences. Small World Theatre brings aTts activity into the heart of cornmunity as a social change agent. To creale innovative, boundary pushing, hojne grown production& and provide a regional platforn for showcasing innovative national and international creative work for audiences and arts consumers. To deliver on equality, diversity and inclusivity by engaging with peopl¢ of all ages, abilities and ethnicities, giving a¢¢ess to a wealth of exp¢riences througb the arts from small-scale workshops, lo professional theatre performances and giant outdoor specIalar shows. To fos*r innovation and joyful inleraction with the arts. To provide a safe, warn], and accessible space for people to be inspired by and in which to enjoy the arts. To continue our rigorous approach to zero carbon theatre in all productions. To continue to produce and promote work in the Welsh language and bilingually as an organis&tion rooted in Wales with an international outlook. To cultivate emerging tslent and foster creative thinking, maintaining and fiwther developing a range of bigh-quality artistic skills within the company and wider community. To contribute to the local economy by pioviding employnenL working with associate artists and delivering events that bring economic benefit to the area. To create work that reaches wider audiences and showcases the best that Wales has to offer on the international stage. ACHIEVEMENTS AND PERFORMANCE Overyieiv In the financial year 2023-24 the organisation has developed and grown. Starting with our new five-year Business Plan and a suc¢essfui application to the Arts Council of Wales Investment Review to become part of their portfolio of revenue fimded organisations. A new project looking at the past present and futLwe of the river Teifi 'Llais yr Afon, was developed in partnersb. West Wales Rivers Trust and spacetocreate. With fimding bids to the Esmee Fairbairn Foundation and National Lottery Fund (NHLF) these projects are bringing in £17,575 and £88,000 respectively to the company over 18 m. Page 2 Ashmole & Co.
Small World Thevdtre Limited Report of the Trustees for the Year Ended 31 March 2024 We have benefitted from UK Government Shared Prosperity (SPFI funding in several ways. We won two frnders from Pembrokeshire County Council. £174,900 to ¢iFcreate a sculpture trail with the community in Fishguard and Goodwick and £25,000 for a launch event I lantern parade for the trail plus £42,000 from Ceredigion County Council for a Festival of Light in Cardigan. These SPF projects have to be delivered and funding spent by the end of 2024, so although this is a huge amount of work we have been able to provide exciting new creative opporlunAti¢s for our staff as well as freelance associate artists. Demand continues to grow for our ovm PT(MJuctions, making and facilitation skills and performances often with giant puppets and parades. This represents a significant in¢ome stream. Alongside all this increased income and activity there have been challenges including the sad death of Sarah Jones our fjnance officer in November 2023. Tim ONeill came out of Tetirement for a few months io cover this role and we employed Amy MO15 in Octob¢r in an Operations Manager role that included fu1¢e, supported by Busitiess Bright accountancy. We also changed to a new financial management software package 'Xero' as the old one was no longer fit for purpose. These transitions have been complex and the new financial set up more time consuming than anticipated. The appointment of Amy is part of a succession plan for ihe organisation as desGribed in the Business Plan with Ann mentoring her over 2 years to gradually tske over as executive director. Amy has been working with all stsff to understand and clarlfy roles and responsibilities, looking at existing systems, updating and tightening them where needed as well as n]nnAng monthly team building mornings and fidraISing. Sam Vicary (Communications Manager) and Amy are working on a rebranding process for the orgartisation. Alongside this our regular core projects Amethyst and SJTC&S Byd Bach continue to grow and flouris14 supporting young and older people both physically and emotionally. We have started a new junior youth theatre group in addilion io our very success] senior group which is growing in popularity and whose members are becoming increasingly skilful. Our youth projects are increasing the range of creative, social opportunities for young people in the area. We develop partnerships with organisations, venues and artists through project work and sometimes expressions of interest. An example of a new partnership is with The Queen Eli7abeth Scholarship Trust (Qest) who support mentoring and training of Craftspeople throughout Britain. They ar¢ working with Sarah James MBE on a new 'Craft Festival of Wales, based in Cardigan. We are being supported by Qest to deliver pupp¢ty master classes and drop-in work8hops for the festival. One reason they are interested in us is because puppetry is considered to be an endangered artfornl OT crafi! Summarv of Activit Core Progranunes Amethysi welcomed 2 new facilitators to our youth projects t Florence Jackson working on Amethyst and Faye Brightman, working on IBB and GLOW. They have fitted in to the team beautifidly and are very much appreciated. Amethyst Monday group has continued through the year delivering creative psy¢hoedu¢ation sessions to groups of local young people referred to the project. Amethyst piloted GLOW, an LGBTQIA+ group for young people this year. Amethyst has also provided some creative, therapeutic 1-2-1 sessions for individuals through the year. We have continued to develop our relationship with FutLweworks, working with them at various points through the year. Amethyst trained a new cohort of peer educators in Ysgol Uwchradd Aberteifi to be peer supporters in their school. Arts Boost 2 was successful again with Amethyst and SBB continuing their collaboration delivering Uplifting Aerial io groups of young people referred from Hywel Dda. Amethyst has also found funding to nm a monthly follow-on group for those from Arts Boost l and 2 who Wdnted to continue with us. Ieuenctid B d Bach IBB Ieuen¢tid Byd Bach is Snydll World's inclusive youth theatre. IBB Seniors created a small scale perfomwAce for the Pilgrim Fayre delivered by Small World &8 part of the Ancient Connections projeci linking County Wexf Pembrokeshire. They then worked on an original play "Branwen" which was a collaboration between IBB and Byd Bach. Three p0ml¢S in early in January 2024 sold out, raising funds for IBB. Page 3 Ashmole & Co.
Small World TheAtre Lnted Report of the Trustees for the Year Ellded 31 March 2024 A new IBB Juniors group stsrted in September 23, the group quickly grew attd in early 2024 they began working on their first devised show'Th¢ Saga of Felinis", which is bilingual and due to be perfornd in June '24" asB dBach By April 2023 we were rum)ing a programme of 7 x aerial classes (2 x Youth Beginners age 8-15, Youth Beginner-lmprovers, Youth Inwrovers, Adult 16+ Beginners x 2, Adult 16+ ImpTovers) with a team of 2 teachers and I assistant. Aerial classes were well attended with a waiting list for youth beginners despite two youth classes. We hosted our second private hire from an internationally recognised aerialist (Alex Allatt) in June 2023 for a 5 day rope and dance intensive and took a booking for a third aerial retreat {US aerialist Jessica Jolm) in 2024. Our wond cabaret fundraiser was held in July 2023 and raised over £500 for purchase of new equipment {sill(s). Hannah Darby left the teaching team ID July and Sophie Ivil stepped into this role in September 2023. We were very saddened by the death of our administralor Sar8h Jones after a short illne&s. Adn)in was subsequently tsken over by Hélène. Inclusive Aerial and Uplifting Aerial delivffed through the CorL2n prOjl were a greai ltrdrning experience, with some very positive feedback overall. Thanks to fimding from Amethysl Uplifting Aerial has continued as a monthly session. Aerial Yoga retlwned in October 2024 also as a monthly offering and is well attended. We're reviewing our m&8Éerclass offering afier an event with Tilly Lee-Kronick was poorly attended in Nov 2023. But overall classes are well attended and SBB is highly valued by participants. Corlan (our umbrella title for applied arts projects with vulneTable groups) The CORLAN pilot prOjt ImpToved the wellbeing of vulnerdble children, young people and adults through high-quality shared experiences in the arts, Disabled and neurodiverse Children and adults, and young people with menthl health issues accessed and participated in a range of perforniance disciplines tbrough Spring and Summer 2023, that, according to their parentsy guardians, session facilitstors and themselves, benefitted their mental, physical and social wellbeing. There were five key project outcomes that were achieved and evidenced through evalvation througbout the project: l. Al-risk andlor marginalised people engaged in previously inaccessiblelunavailable aerial CITCUS, physical and applied theatre and puppety activities. 2. Participants gained confidence and positive atfirnMtion, empowernient from CoreatIng and sharing their work with peers and conjrnunity members. 3. Participattts had opportunities for friendship and social cohesion, tackling loneliness and isolation, benefitting their mental. physical and social wellbeing. 4. Project parther&4 and statutory agencies recognised the value of high-quality shared creative experiences in the art8 for the wellbeing of their ¢lientsA)eneficiaries. and the value added by arts organisations such as SWT and the sector more broadly. 5. Arts professionals (freelancers) and SWT staff gained experience in working to support the wellbeing of vulnerable children, young people and adults through the arts. Importantly, key le8s(yns were learned to enable sw'r to develop and etthance the delivery and impact of this pilot pJL which will sijpport more vulnerable children, adults and young people through the arts in the ture. Theatr Byd Baeh - Venue Live event8 The tskings for 2023-24 are down by about 150/0 compared to 2022-23. The bar taki8 Count for over half of the sales. There were 3 musical events plus the oiher Voices festival for 2 nights, i DJ nighL l ¢ircus family show with 2 perfornwices, l theatre play brought by the National Theatre of Wales and I dance show supported by the RTDI. SWT used all 4 applications to the Night Out scheme by the Arts Council of Wales. The other events were on a door split basis with 300/. for SWT after a deduction of IOO/o for adminislration costs. Also 4 perforniances were fundraisers for the IBB and the SBB projects with takings not included in the final figu Page 4 Ashrnole & Co.
Small World Tbeatre Limited Report of the Trustees for the Year Ended 31 March 2024 SWT was also put in a position where all tickets had to be refunded for a cancelled international singer, increasing the overhead costs. Each event with low takings was flagged in a traffic light systenL This process showed that the DJ nights in the current fornTrt lose money and therefore are not to be continued. Room hire The takings for 2023-24 have iticreased by about 40010 compared to 2022-23 with fewer agreed discounts on the space hire rdtes (average 290/. discount given compared to 34% the previous year). Nearly a thiTd (around 28 %) of this income is generated by the bar sales. A little more than 3/0 comes from teas and coffees and I l % from tech support and equipment. The whole spacc was hired I I times, the Jnain centrdl space 3 times and the dance studio 5 times, 5 of the total hires were returning customers. Commissions and Productions Commissions and our own pmductions bring in approximately 75 /0 of the organisation's income. In 202312024 these have included: Commissions Puppetry con)mission from Theatr Genedlaethol - developing and making a puppet character Ilog Pren, for PerforneS at Eisteddfod Genedlaethol 2023 lllterDational Eisteddfod con)mission - Giant I I petalled Srebrenica tlowets for the stage and workshops with schools at the festival nTrking smaller peace flowers Giant Phoenix for an exhibition in the Senedd foyer- collaboration with S, Butetown carnival and the Senedd. Venue Cymru - Commission to make a giant book and deliver workshops at TakepART Aberystwyth Town Couneil - Giant Drngon and Dyl}en puppels for parade City and County of STrvansea - Y Ddraig for winter parade City and County of Swansea - Y Ddraig for 'Croeso CJJnru' 2 day event during Guyl Dewi Sant National Museums of Wales - Polar Bear for Christmas event, Baby Dragon for Gwyl Dewi Sant Carnlarthen Town Council - workshops and a lantern parade in Carntsrtben ATrveD - Elephant and giant Star lanterns for parade Yes Cymru - Dragon led a parnde it) Bangor Bluestone Resort- 3 thonths bire of Drdgon over the summer plus I day hire for New Year mernld themed stsvctyre for Rlp Tide festival in Manoler Productions Ancient Connections - delivery of a Pilgrim Fayre in the Bishops PaIa¢e, St Davids including a procession led by our giant Dewi Sant puppet and a sea monster with schoolchildren carrying Bees and fish n]ade in workshops delivered by SWT. Cardlgan Ciant Lantern Parade in December 2023 themed on Myths and Ltgends and attended by 23,000+ people including lantern bearers. Around 500 people rnade lanterns at workshops by swr aT]d participated in a vibrant parade by a giant Minolaur. Pembrokeshlre County Council - a sculpture trail with creative Waymarkers linking the tom5 of Goodwick and Fisbguard. Community consultation is underway with the knil due to be installed in Autumn 2024. Advocacy and Nehvorking Artistic Director Bill Hamblett contrjbuted to key debates with the Senedd, Arts Council of Wales and international networks. positioning the cornpany at th¢ c¢ntr¢ of the discours¢ about Climate Justice and the contribution of the arts. Amethy8t Project Manager Dcri Morgan delivered a presentation about the project at the first Welsh Health and Wellbging conference in October. Markethig and Communications Small World Theatre's Marketing Manager began the year working on the Arts Council of Wales, Investment Review application and Business Plan with othcr senior managers and Members of the Board of Trustees. AfteT hearin success in securing multt-year funding, there were updates to the compan5Rs website to communicate OUT con]mii future targets and revisions to the compangs vision and aims. Page 5 Ashmole & Co.
Small World Thevltre Llmlted Report of the Trustees for the Year Ended 31 March 2024 Marketing focused on the main projects including a conjmission by Pembrokeshire County Council and Wexford County Council to deliver events for the Ancieni Connections. cross-border project. Other projects needed support to engage hard to reach groups such as CoTlar4 inspiring creativity and providing mentsl health support in sessions for ngiliSed groups funded by The Arts Council of Wales. Another highlight of the year was the revival of the Cardigan Giant Lantern Parade. This event in December was particularly heartwarming with overwhelming support from our community and a big crowd fuDding Garnpaign. Successful marketing saw crowds return to Cardigan in their thoandS supporting the local economy. Towards the end of this finanGial year, we secured a new project to c(Fcreale art trdils with the communities funded by Pembrokeshire County Council with UK Goven]ment fill1ng. The art trails PToject offered new challenges and required a f&st approach to engaging and communicating with rc.4idents and slakeholders. We saw a bigber volume of traffic acm&s our social media as audiences re-connected with the venue. Our Instagram and Fac¢book potpts grew in popularity, and we maintain¢d an increase in followers throughout the year. There were opportunities for joint llwketing through re-connecting with partners and after the pandemic years and receiving new alld excitllig COllllnissioLs, such as Theatr Genedlaethol, Venue Cy7nr Cardigan Castle, LlangolleD'S Musical Eisteddfod, Waterfront Mus¢um, Awen Culture TnksL Senedd Cymru. FINANCIAL REVIEW Inveslment policy alld objectives Most of the charity fLU)ds are to be spent in the short tern], so the trustees have a policy of keeping any surplus as liquid funds in deposit accounts that Can be accessed readily. The balance is invested in accordance with the memorandum and articles of association. As the reserve grows, the amount invested will grow accordingly. Reserves policy The company policy is that it should hold adequate reserves to plan to the near- to mid- tte, and to make provision for unforeseen contingencies. At the year end, free reserves were £81,893 (2023: £53,028) and these equate to over 12 months of overhead expendityre. Results The results of the charity are shown in the statement of financial activities on page 9. The net incoming resources of unrestricted funds w&8 £28,865 (2023: negative £43,688). The net incoming resources of restricted funds was a negattve £65,317 (2023: £28,480). Financial posltlon The Statement of Financial Activities shows a net decrease in funds of £36,452 (2023: decrease £15,208) ar total net assets of £260.229 (2023: £296,681) represenled by unrestricted funds of £81,893 (2023: £53.028) and restsicted fimds of £178,336 (2023." £243,653). There are no unrestrACted designaled funds. A resolution will be proposed at the AGM that A8hmole & Go., Chartered Certified Accountants be reappointed as independent examiners to the charitable coll]pany for the ellsuing year. STRUCTURE, COVERNANCE AIND MANAGEMENT Coverning document The organi8ation is a charitable company limited by guarantee, incorporated i)n 18th December 1996 and registered as charity on 10th March 2000. The company was estsblisbed under a Memorandum of Association which estabjished the objects and powers of the charitsble company and is governed under its Articles of Association. Reeruitment and management of trustees The directors of th¢ company are also charity trustees for the pUoSe of c]lty law. and are members of the ¢ompany. There are no other trustees. The trustees who served during the year are listed on page I, together with their dales of appointment or resignation where this took place during the year arc listed during the year. Trust¢¢s are selected by invitation in a¢¢ordance with Article 13 of the Articles of Association. In the evenl of the con]pally being wound up, members of the charitable company are required to contribute an not exceeding £1. Page 6 Ashmole & Co.
SmY4ll World Thealre Limited Report of the Trustees for the Year Ended 31 March 2024 REFEREI¥4CE AND ADMINJSTILITIVE DETAILS Registered Company number 03294035 (England and Wales) Reglstered Charlty number 1079819 Registered offiee Canolfan Byd Bach Bath House Road CARDIGAN C¢redigion SA43 IJY Trustees T Rees S Welch (resigned 20.7.24) C Miles T Brew (resigned 7.3.24) S Lewis T Wells J Davidson (resigned 7.3.24) Ms M Bell AMBah A Morris (resigned 7.9.23) C Gmynn (appointed 5.9.24) K C E Hanson (appointed 5.9.24) S P Knight (appointed 5.9,24) W J Wilkins (appointed 5,9.24) Independent Examiner Ashmole & Co Manchester House Grosvenor Hill Cardigan Ceredigion SA43 IHY Bankers Cowoperdtive Bank PIC PO Box 250 Skeln]ersdale WN8 6WT Joint Artistic Dfirectors A Shrosbree W Hamblett Approved by order of th¢ board of trustees on 26 November 2024 and signed on its behalf by." C Miles - Tnte¢ Page 7 Ashrnofe & Co.
Independent Examiner's Report to the Trustees of Small World Therdtre Limited Independent eLqminer's report to the trustees of Small World Theatre Limited ('the Company,) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. Responsibilities and basls of report As the charitqs trstee8 of the Company (and also its directors for the purposes of company law) you are responsil)le for the preparntion of the accounts in accordance with the requirements of the Compani&% Act 2006 Cthe 2006 Act,). Having satisfied myself that the accounts of the Cojnpany are not required to be audited under Part 16 of the 2006 Act and are eligible for independent exaniinalion. I report in respect of my examination of your chariws accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 knt,). tn carrying out my examination I have followed the Directions given by tbe Charity Commission under stion 145{5) (b) of the 2011 Act. Independent eLq]niner's statement Since your charity's gross income exceeded £250.000 your exanliner must be a m¢mber of a listed body. l Can confi that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the lisfrd bodies. I have completed my exarnination. I confirni that no matters have Coll to my attention in connection with the examination giving me cause to believe: accounting records were not kept in respect of the Conwany as Tequired by Section 386 of the 2006 Act; or the arcounts do not accord with those records" or the accounts do not ¢omply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination" or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by chaTities (applicable to Charities preparing their accoullts in Cordanc¢ with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). 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. lan Badhatn Ashmole & Co Manchester House Grosvenor Hill Cardigan Ceredigion SA43 1 HY 17.1l.Zoiy Page 8 A5hmole & Co.
Small World Theatre Limited Statement of FAnancial Actlvltles for the Year Ended 31 March 2024 31.3.24 Total 31.3.23 Total funds Unrestricted fimds Restricted funds Notes INCOME AND EIYDOWMENTS FROM Donations and legacies 6,794 6,795 2,788 Charitable a¢tivitie5 Proje¢ts 229,332 16,450 245,782 178,974 Other trading activities Other income 5.539 5,539 27,733 6,240 27,733 27,733 Total 241,665 44,184 285,849 215,735 EXPENDITURE ON Raising funds 4262 4.262 4,427 CbarAtable aetivltles Projects 208,538 109,501 318,039 226,516 Total 212,800 109,501 322,301 230,943 NET INCOMEI(EXPENDITURE) 28,865 (65,317) (36,452) (15,208) RECONCILIATION OF FUNDS Total funds brought fonvard 53,028 243,653 296,681 311,889 TOTAL FUNDS CARRIED FORWARD 81,893 178.336 260,229 296,681 The notes form part of these financial statements Ashmole & Co. Page 9
Small World Tbeatre Limited Balance Sheet 31 March 2024 31.3.24 Total funds 31.3.23 Total funds Unrestricled fimds Restricted fimds Notes FIXED ASSETS Tangible assets 28,592 954,102 982,694 1,010,835 CURRENT ASSETS Stocks Debtors Cash at bank and in hand 154 21,535 96,495 E54 2E,535 98,081 154 1,345 97,348 io 1,586 118,184 1,586 119,770 98,847 CREDITORS Amounts falling due within on¢ year (64,884) (64,883) (7,916) NET CURRENT ASSETS 53,300 1,587 54,887 90,931 TOTAL ASSETS LESS CURRENT LIABILITIES 81,892 955,689 1,037,581 1,101.766 ACCRUALS AND DEFERRED INCOME 12 (777,352) (777,352) (805,085) NET ASSETS 81,892 178,337 260,229 296,681 FUNDS UJ]restri¢ted fimds Restricted fid$ 13 81.892 178,337 53,028 243.653 TOTAL FUNDS 260,229 296,681 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. The members have not required the company to obtain an audit of its fllmncial statements for the year ended 31 March 2024 in ac¢oTdan¢¢ with Section 476 of th¢ Companies Act 2006. The trustees acknowledge their responsibilities for (a) ensuring that the chtable company keeps accounting rewrds that Comply with Sections 386 and 387 of the Coll]panies Act 2006 and preparing financiaI statements which give a true and fair vi¢w of the state of affairs of the cbaritable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which othenvise comply with the requirements of the Companies Act 2006 relating to fmancial staten]ents, so far as applicable to the charitable company. (b) The notes fom part of these financial statements Ashmole & Co. Page 10 continued...
Small World Theatre Limited Balance Sheet- eontinued 31 March 2024 Thes¢ fu¢1a] statements have been prepared in accordance with th¢ pmvisions applicable to ¢harAtable companies subje¢t to the small compatiies Tegime. The financial statements were approved by the Board of Tn1¢¢$ and authorised for issue on 26 November 2024 and were SAgned on its behalf by. S Lewis- Trustee C Miles- Trustee The notes forni part of these financial ststernents Ashmole & Co. Pagell
Small World Theatre Lfinted Notes to the Flnaneial Statements for the Year Ended 31 March 2024 ACCOUNTING POLICIES Basis of preparing the flnanclal statements The flnancial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to c])arities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Fillancial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost onventio Income All income is recognised in the Statement of Financial Adivities once the cEJarity has entitlement to the fimds, it is probable that the income will be received and the amount can be measured Teliably, Expenditure Liabilities are recognised as expenditUTe as soon as there is a legal or constructive obligation con]mitting the harity to that expenditure, it is probable that a transfer of economic beneflts will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular beadings they have been allocated to activities on a basis consistent with the use of resources. Tangible fixed assets Depreciation is provided at the following annual rates in order to write oty each asset over its estimated useful life. Freehold propety Plant and machinery over the terrn of the propety lease Stocks Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Taxation The charity is exempt from corporation tax on its charitable activities. Fund aeeounting Unrestricted funds can be ed in accordance with the charitable objectives at the discretion of tbe trnstees. Restricfrd funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when fimds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fimd is included in the notes lo the financial statements. Grants receivable & payable Revenue and capital grdnts receivable are recognised in fijll in the SOFA in the year in which they are re¢eivable. Grants payable are recognised in the SOFA when payable. Page 12 .•nmole & Co.
Small World Theatre Lfimited Notes to the Finan¢lal Statements - Continued for the Year Ended 31 Mareh 2024 DONATIONS AND LEGACIES 31.3.24 31.3.23 Donations 6,795 2,788 OTHER TRADITrIG ACTIVITIES 31.3.24 31.3.23 In House Bar and Catering 5,539 6,240 NET INCOMEI(EXPENDITURE) Nct income/(exp¢nditure) is stated after charging/(crediting): 31.3.24 31.3.23 Depreciation - 0ed assets 28,141 28,141 TRUSTEES, REMUNERATION AND BENEFITS There wer¢ no trtees, remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees, expenses There were no trustees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. STAFF COSTS DurAng 2023-24 the charity employed seven members of staff. Projects are conceived, developed and implemented by two artistic co-directors, who are not tnte¢s. In addition, firther freelance project workers are employed as and when required. The management and administration of tbe charity is sbared between the ditlY-en)p1oYed members of staff and freelance workers. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fiu]ds Restricted funds Total funds INCOME AND ENDOITrTrIENTS FROM Donations and legacies 2,789 (i) 2,788 Charitable activities Projects 105,195 73,779 178,974 Other trading activities Other income 6,240 6,240 27,733 27,733 Total 114.224 101,511 215,735 EXPENDITURE ON Raising funds 4,427 Page 13 cont IEhmole & Co.
Small World Theatre Llmlted Notes to the Financial Statements - Continued for the Year Ended 3] Mareb 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued UnrestrACted fidS Total fimds funds Charitable activities Projccts 153,485 73.031 226,516 Total 157,912 73,031 230,943 PIET INCOMEI(EXPENDITURE) (43,688) 28,480 (15,208) RECONCILIATION OF FUNDS Total fillKls brought fonvard 96,716 215,173 311.889 TOTAL FUNDS CARRIED FORWARD 53,028 243,653 296,681 TANGIBLE FIXED ASSETS Freehold property Plant and machinery Totals COST At l April 2023 and 31 March 2024 1,405,066 48,421 1,453,487 DEPRECIATION Ai l April 2023 Charge for year 407,541 27,733 35,111 408 442,652 28,141 At 31 March 2024 435,274 35,519 470,793 IYET BOOK VALUE At 31 March 2024 969,792 12.902 982,694 At 31 March 2023 997,525 13,310 1.010,835 STOCKS 31.3.24 31.3.23 Stock8 154 154 Page 14 N.-hTrk &Co
Small World Theatre Limited Notes to the Financial Statements - eolltlnued for the Year Ended 31 March 2024 io. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Trade debtors Other debtors Prepayments and accrued incom¢ 21,485 47 1,248 50 50 21,535 1,345 ii. CREDITORS: AMOiTNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Trade creditors Social security and other taxes Otber creditors Accrued expenses 2,780 14,809 45,004 2,290 2.669 3,101 2,146 64,883 7,916 12. ACCRUALS AND DEFERRED INCOME 31.3.24 31.3.23 Canolfan Byd Bychan- WEFO funding 777,352 805,085 13. MOVEMENT IN FUNDS Net movement in fiLnds Transfers between funds At 31.3.24 At 1.4.23 Unrestricted funds General fimd Welsh Government Covid Grant 26,458 26,570 28,864 55,322 26,570 53,028 28,864 81,892 Restricted funds Restricted Funds Reach the heights {Scheme l) Reach the heights (Scheme 2) Whatever the weather Canolfan Byd Bychan ACW Building Grant CCC Building Grant WEFO RCDF Building GTant PAVS {Amethyst} Foyle Foundation Ashley Foundation Comi¢ Relief (Amethyst) ACW Lottery AC (An]ethyst) ACW Lottery AC (Corlan) Cardtgan Town Council 895 (10,168) 22 (47,731) 105,397 11,015 24,356 84,740 3,291 6,750 9,810 10,000 10,000 32,776 2,500 167.631 10,168 (22) 47,731 (105,397) (11,015) (24,356) (84,740) 168,527 (3,291) (6,750) 9,810 (10,000) {io,000) (32,776) (2.500) 243.653 (65,316) 178,337 TOTAL FUNDS 296,681 (36,452) 260 Page 15 coni P.-hmolo & Co.
Small World Theatre LIted Notes to the Fillaneial Statements - eontinued for the Year Ended 31 Mareh 2024 13. MOVEMENT IN FUNDS - eontlnued Net movement in fimds. in¢luded in the above are as follows: Incoming resources Resources expended Movement in fimds Unrestrieted funds General fLmd 241.665 (212.801) 28.864 Restricted funds Restricted Funds PAVS (Amethyst) Foyle Foundation Comi¢ Relief (Amethyst) ACW Lottery AC (Amethyst) ACW Lottery AC (Corlan) Cardigan Town Council Amethyst 27,734 (27,733) (3,291) (6,750) {io,000) (10,000) (36,726) (5,000) (i 0,000) (3291) {6,750) (10,000) (10,000) (32.776) (2,500) 3,950 2,500 10.000 44,184 (109,500) (65,316) TOTAL FUNDS 285,849 (322,301) (36,452) Page 16 contin I; hmole & Co.
Small World Theatre Limited IW4otes to the Financial Statements- continued for the Year Ended 31 March 2024 13. MOVEMENT IN FUNDS - continued Comparatives for movement in funds Net movement in funds Transfers betwe¢n funds At 31.3.23 At 1.4.22 Unrestrieted funds General fund Welsh Government Covid Grant 51,716 45,000 (43,688) 18,430 (18,430) 26,458 26,570 96,716 (43,688) 53,028 Restrieted funds Restri¢t¢d Funds Rea¢h the heights (Scheme l) Reach the heigllts (Scheme 2) Whatever the weather Canolfan Byd Bychan ACW Building Grant CCC Building Grant WEFO RCDF Building Grant ACW (Periant Newid Pethau) PAVS (Amethyst) Foyle Foundation Ashley Foundation CAVO (Amethyst) Comic Relief (Amethyst) ACW tltery AC (Amethyst) ACW Lottery AC (Corlan) Cardigan Town Council 895 895 (10,168) 22 (47,731) 105,397 11,015 24,356 84,740 (10,168) 22 (47.731) 105,397 11,015 24,356 84,740 19,589 3,893 6,750 9,810 7,500 (19,589) (602) 3291 6,750 9,810 (7,500) 10,000 10,000 33,671 2,500 10,000 10,000 32,776 2,500 (895) 215,173 28,480 243,653 TOTAL FUNDS 311,889 (15,208) 296,681 Comparative net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds Generdl futMI 114,224 (157,912) (43,688) Restricted funds Restricted Funds ACW {Periant Newid Pethau) PAVS (Amethyst) CAVO (Amethyst) Comic Relief (Amethyst) ACW Lottery AC (Amethyst) ACW Lottery AC (Corian) Cardigan Town Council 27,733 2,919 10,560 2,250 10,000 i 0,000 35,549 2,500 (27,733) (22,508) (11,162) (9,750) (19,589) (602) (7,500) 10,000 10.000 33.671 2,500 (1,878) 101,511 (73,031) 28,480 TOTAL FUI¥4DS 215,735 (230,943) (15 Page 17 conl hmole & Co.
Small World Theatre Limited Notes to the Financial Ststements- eontlnlled for the Year Ended 31 March 2024 13. MOVEMENT IN FUNDS - Continued A current year 12 months and prior year 12 months combined position is as follows: Net movetnent in fimds Transfers between funds At 31.3.24 At 1.4.22 Unrestrfieted funds General fund Welsh Government Covid Grant 51,716 45,000 (14,824) 18,430 (18,430) 55,322 26,570 96,716 (14,824) 81,892 Restricted funds Restricted Funds Reach the heights (Scheme l) R¢ach the heights (Scheme 2) Whatever the weather Canolfan Byd Bychan ACW Building Grant CCC Building Grant WEFO RCDF Building Grant ACW (Periant Newid Pethau) PAVS (Amethyst) Foyle Foundation Ashley Foundation CAVO (Amethyst) ACW LL)ttery AC (Corlan) 168.526 10,168 (22) 47,731 (105,397) (11,015) (24,356) (84.740) 168,527 (10,168) 22 (47,731) 105,397 11,015 24.356 84,740 19.589 3,893 6,750 9,810 7,500 (19,589) (3,893) (6,750) 9,810 {7,500) 895 (895) 215,173 (36,836) 178,337 TOTAL FUNDS 311,889 (51,660) 260,229 A Current year 12 months and prior year 12 months combined net moVeent in fLmds, included in the above are as follows.. In¢oming resources Resources expended Movement in funds Unrestrieted funds General fund 355,889 (370.713) (14,824) Restricted funds Restricted Full(L ACW {Periant Newid Pethau) PAVS (Amethyst) Foyle Foundation CAVO (Amethyst) Comic Relief (Amethyst) ACW Li)ttery AC (Amethyst) ACW Lottery AC (Corlan) Cardigan Town Coull¢il Amethyst 55,467 2.919 10,560 (55,466) (22,508) (14,453) (6.750) (9,750) (io,000} (i o,000} (38,604) (5.000) (10,000) (19.589) (3,893) (6,750) (7,500) 2.250 10,000 10,000 39,499 5.000 10,000 895 145,695 (182,531) (36,836) TOTAL FUNDS 501,584 (553,244) (51 Page 18 con ehnvjtè & Co.
Small World Theatre Limited Iyotes to the Finaneial Statements - eontfinued for the Year Ended 31 March 2024 14. RELATED PARTY DISCLOSURES There were no related paty transactions for the year ended 31 March 2024. 15. ULTIMATE CONTROLLING PARTY The charitable con]pany is limited by guarantee and has no share capitsl. Control is vested in the Board of Tntee$. 16. PURPOSE OF RESTIUCTED FUNDS The purpose and activities of restricted fimds are referred to in detail in the Trustee's Report. 17. GOING CONCERN These financial ststements are prepared on a going concern basis. The tte¢S have a reasonable expe¢tstion that the charity will continue in operational existence for the foreseeable future. Page 19 Ashmole & Co.
Small World Theatre Llmlted Detalled Statement of Finanelal Aetivities for the Year Ended 31 March 2024 31.3.24 31.3.23 INCOME AND ENDOWMENTS Donation8 and legaeles Donations 6,795 2,788 Other trading activities In House Bar and CaterAng 5,539 6,240 Ch74ritable activities Projects Theatres & CBB hire Miscellaneous Income FITS payments Conllnissions & ONwn Productions ACW Lottery AC (Amethyst) ACW Li)ttery AC (Corlan) Comic Relief Grant (Amethyst) CAVO (Amethyst) Cardigan Town Council Community Foundation in Wales ACW (Peiriant Newid Pethau) PAVS (Amethyst) 100,700 22.005 9,596 279 81,752 78,703 21.159 2,795 2,538 10,000 35,550 10.000 2,250 2,500 3.950 15.000 2,500 10.000 2,919 10,560 245,782 178,974 Other income Canolfan Byd Bychan 27,733 27,733 Total incoming resourees 285,849 215,735 EXPENDITURE Other trAding activities Bar expenses Catering expenses 4,262 3,925 502 4,262 4,427 Charitable aetlvitieg Wages Production expenses 217,507 12,053 146,425 5,233 229,560 151,658 Support costs Management Rates and water Insurance Light and heal Cattied forward 226 6,806 3,643 10,675 335 7,078 2,045 9,458 This page does not fom] part of the ststhtory fmancial statements Page 20 Ashmole & Co.
Small World Thextre Limited Detalled Statement of Financial Activities for the Year Ended 31 March 2024 31.3.24 31.3.23 Management Brought fonvard Telephone Postage and stationery Consumables Staff training Other overhead Memberships and conferenc&q Rq)airs and renewals Premise8 Tents] Subscriptions Depreciation 10,675 2,477 1,478 816 2,721 11,723 146 9,178 5,275 395 28,141 9,458 1,596 1,474 877 16,566 379 5,913 3,080 28,141 73,025 67,484 Flnance Bank charges 311 211 Informatlon technology Compuler consumables Travel & subsistence Translation 3,542 1,913 520 4,257 1,771 6,028 5,975 Governanee costs Accountancy IKgaI & professional fees 1,194 7,921 1,188 9,115 1,188 Totsl resources expended 322,301 230,943 Net expendlture (36,452) (15,208) This page does not forni part of the statutory fllwicial statements Page 21 Ashnw)le & Co.