Charity registration number 1082484
Company registration number 04041470 (England and Wales)
EVERYMAN THEATRE CARDIFF LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
EVERYMAN THEATRE CARDIFF LIMITED
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 4 |
| Statement of trustees' responsibilities | 5 |
| Independent examiner's report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 - 9 |
| Notes to the financial statements | 10 - 19 |
EVERYMAN THEATRE CARDIFF LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 OCTOBER 2023
The trustees present their annual report and financial statements for the year ended 31 October 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity'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) (effective 1 January 2019)".
Objectives and activities
The Charity's objectives are 'to advance the public knowledge and appreciation of literature and drama by means of public performances'.
The main activities undertaken in relation to the charity's objectives are noted throughout the report.
Everyman Theatre Cardiff Ltd delivers its charitable objects through five main areas of activity:
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A season of plays performed in Chapter Arts Centre, the Playhouse Season.
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Weekly 'Clubnights' between October and May.
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Technical training for aspiring writers, directors, backstage and performers via the 'Melting Pot' programme. 4. Everyman Youth Theatre.
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Our outdoor summer festival in June and July.
Public benefit
The trustees have paid due regard to the guidance issued by The Charity Commission in deciding what activities the charity should undertake and when planning out the charity's programme.
The main activities undertaken to further the charity's purposes for public benefit are noted throughout the report.
Prices for tickets and membership are minimised in order that the charity maximises the reach of its public benefit.
Achievements and performance
Development, activities and achievements
The playhouse season for 2022/23 consisted of Road, The Pillow Man, Art, Two Plays After & RENT.
Following the successful return to Sophia Gardens for a full Summer Festival run in 2022, 2023 saw the biggest attendance figures on record, consisting of over 50 shows across 5 productions (Mid-Summer Night’s Dream, The Addams Family, Calendar Girls, and Jack and The Beanstalk), along with stand-alone comedy & choir nights.
Financial review
Reserves policy
At the end of the 2022/23 financial year, the charity's unrestricted reserves were £62,783 (2022: £88,094). During the year, the trustees pursued a number of different options for expending or holding the reserves. The trustees are of the opinion that a considerable amount of reserves should be retained for cash flow purposes during the festival, and to account for potential losses on the summer festival. However, they are also aware of the need to expend charitable resources in accordance with the Charity's objects. The trustees will continue to review the reserves policy in the coming 12 months. The charity's free reserves (unrestricted reserves excluding fixed assets and designated funds) totalled £12,783 (2022: £87,685). The trustees have designated £50,000 of the free reserves this year for festival set up costs for next year, hence the reason for the reduction of free reserves at the end of 2022/23. Restricted funds at the end of the year totalled £nil (2022: £1,755).
Fixed assets
Changes in fixed assets during the year are set out in the notes to the financial statements.
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EVERYMAN THEATRE CARDIFF LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023
Risk review
The principal risk to which the charity is exposed is poor attendance at the annual summer festival, resulting in financial loss to the charity. The trustees are aware of the risks to the charity and take active steps to mitigate against the risk, including the holding of sufficient reserves to cover a significant loss on the festival's activities.
The charity also deals with vulnerable young adults, the Board has ratified and put into effect a child safeguarding policy.
Structure, governance and management
In order to better align the accounting period with the operational cycle of the organisation, the Trustees have voted to increase the reporting period for the year 2022/23 to 14 months (Nov’22 – Dec’23), and to present subsequent accounts in line with the calendar year (Jan-Dec).
Organisation
The Board of Trustees administers the charity. The Board met 13 times during 2022/23, all meetings were quorate.
Trustees serve on the Board; they may also sit on sub-committees. There is a standing Festival Committee, which considers all matters relating to the organisation and management of the summer festival and related productions. Other sub committees are established as and when required to pursue particular objectives.
The charity is not part of a wider network.
Trustees
Trustees are recruited by an open application process and appointed through free vote at the charity's annual AGM. There is a maximum of 15 trustee positions. No outside body has nomination rights. Each candidate must present their application at the AGM, where they speak to it. Members are appointed in order of the number of votes obtained by each until all places are filled. Applicants must be a member of Everyman Theatre in order to stand for appointment as a trustee.
Related party transactions
There were no related party transactions for the financial year to October 2023.
Relationships with other groups, charities and individuals
While there are currently no related party conflicts of interest within the Board, where they arise, discussions concerning the charity's work are concluded without the related party being present. The trustees hold no concerns over these relationships. The contracts will be periodically reviewed in future to ensure that they continue to offer value for money and that the relationships can continue to operate. Appropriate disclosures have been made within the accounts concerning these transactions.
Everyman Theatre Cardiff Ltd co-operates with a number of other charitable organisations to meet its charitable objectives and where it represents good value for money, aims to work with local charities and suppliers. All transactions are made at arm’s length.
Volunteers
Everyman Theatre Cardiff Limited cannot operate without the valuable assistance and phenomenal expertise of its volunteers and, as such, the charity makes extensive use of volunteer time. During 2022/23 it is estimated a minimum of 52,000 (40,000 - 2021/22) hours of volunteering time were consumed across the charity's activities. These include, but are not limited to: governance, marketing, procurement, rehearsal and performance and staffing of the Festival site. The increase reflects the increase in Festival activities, YoY. At a rate of £10.42 (UK Minimum Wage for +25 Yr Olds for F/Y 2021/22) this would equate to £541,840 (£8.91 & £356,400 – 2021/22).
The enthusiastic, untiring, positive nature of our contributors is indicative of the organisation and what it stands for. The trustees would like to take this opportunity to acknowledge the exceptional work of the members and thank them for everything they do within the creative world of Everyman Theatre Cardiff Limited.
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EVERYMAN THEATRE CARDIFF LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023
Reference and administrative details
Charity number 1082484 Company number 04041470 Registered office Chapter Art Centre Market Road Cardiff CF5 1QE Secretary Susan Osmolska Trustees Simon Futty (Chair) - resigned 20.09.2023 Edward Hayes (Treasurer) Paul Fanning - resigned 20.09.2023 Peter Harding Roberts - resigned 20.09.2023 Susan Osmolska Katherine Stanbury Catherine Roberts Barry Slack Anna Schwartz - resigned 07.08.2023 Tyler Curle - appointed 20.09.2023 Sarah Day - appointed 20.09.2023 Russell Davies - appointed 20.09.2023 Fiona Gibson - appointed 20.09.2023 Toby Harris - appointed 20.09.2023 Paul Williams - appointed 20.09.2023 Vernon Cornish - appointed 20.09.2023, resigned 25.11.2023 Megan Sawyer - appointed 20.09.2023 Independent examiners Azets Audit Services Ty Derw Lime Tree Court Cardiff Gate Business Park Cardiff CF23 8AB Bankers NatWest Roath Cardiff Branch 207 Richmond Road Cardiff CF24 3UX The Co-Operative Bank 16-17 High Street Cardiff CF10 1AX
The trustees' report was approved by the Board of Trustees.
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EVERYMAN THEATRE CARDIFF LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023
..............................
Edward Hayes - Treasurer Dated: .........................
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EVERYMAN THEATRE CARDIFF LIMITED
STATEMENT OF TRUSTEES' RESPONSIBILITIES
FOR THE YEAR ENDED 31 OCTOBER 2023
The trustees, who are also the directors of Everyman Theatre Cardiff Limited for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (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 incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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EVERYMAN THEATRE CARDIFF LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF EVERYMAN THEATRE CARDIFF LIMITED
I report to the trustees on my examination of the financial statements of Everyman Theatre Cardiff Limited (the charity) for the year ended 31 October 2023.
Responsibilities and basis of report
As the trustees of the charity (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 charity 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 charity’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 charity’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 Association of Chartered Certified Accountants, 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:
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1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply 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
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4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance 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 financial statements to be reached.
Joanne Taylor FCCA DChA Azets Audit Services
Ty Derw, Lime Tree Court Cardiff Gate Business Park Cardiff CF23 8AB United Kingdom
Dated: .........................
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EVERYMAN THEATRE CARDIFF LIMITED
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 OCTOBER 2023
| Unrestricted Restricted funds funds 2023 2023 Notes £ £ Income from: Donations and legacies 3 273 - Charitable activities 4 251,559 - Other trading activities 5 4,015 - Investments 6 - - Total income 255,847 - Expenditure on: Charitable activities 7 281,158 1,755 Net expenditure for the year/ Net movement in funds (25,311) (1,755) Fund balances at 1 November 2022 88,094 1,755 Fund balances at 31 October 2023 62,783 - |
Total Unrestricted Restricted funds funds 2023 2022 2022 £ £ £ 273 1,699 - 251,559 225,359 - 4,015 2,318 - - 58 - 255,847 229,434 - 282,913 246,270 5,402 (27,066) (16,836) (5,402) 89,849 104,930 7,157 62,783 88,094 1,755 |
Total 2022 £ 1,699 225,359 2,318 58 229,434 251,672 (22,238) 112,087 89,849 |
|---|---|---|
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.
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EVERYMAN THEATRE CARDIFF LIMITED
BALANCE SHEET
AS AT 31 OCTOBER 2023
| 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 Creditors: amounts falling due after more than one year 15 Net assets Income funds Restricted funds 17 Unrestricted funds Designated funds 18 General unrestricted funds |
2023 £ 53,274 26,009 79,283 (7,131) 50,000 12,783 |
£ - 72,152 72,152 (9,369) 62,783 - 62,783 62,783 |
2022 £ 33,878 74,264 108,142 (7,758) - 88,094 |
£ 409 100,384 100,793 (10,944) 89,849 1,755 88,094 89,849 |
|---|---|---|---|---|
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EVERYMAN THEATRE CARDIFF LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2023
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 October 2023.
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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on .........................
..............................
Edward Hayes - Treasurer
Company Registration No. 04041470
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EVERYMAN THEATRE CARDIFF LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
1 Accounting policies
Charity information
Everyman Theatre Cardiff Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Chapter Art Centre, Market Road, Cardiff, South Glamorgan, CF5 1QE.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity'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) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 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.
1.4 Income
Income is recognised when the charity 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 charity 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.
Income from ticket sales, memberships and fundraising events is recognised in the period to which the event/ service is provided with any amounts received in advance deferred.
Income from 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. Capital grants are released to the Statement of Financial Activities in the year of receipt. Fixed assets relating to capital grants are capitalised, and depreciation charged is offset against the grant income, in a restricted fund.
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EVERYMAN THEATRE CARDIFF LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023
1 Accounting policies
(Continued)
Investment income is included when receivable.
No amounts are included in the financial statements for services donated by volunteers.
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.
1.5 Expenditure
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.
Costs are allocated between the different categories according to the nature of the cost. Where costs are shared, they are apportioned between the categories on a basis consistent with the use of the resources.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities. 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 fee and costs linked to the strategic management of the charity.
1.6 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:
Plant and equipment 33% straight line
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 the statement of financial activities.
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible 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).
1.8 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.
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EVERYMAN THEATRE CARDIFF LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023
1 Accounting policies
(Continued)
1.9 Financial instruments
The charity 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 charity's balance sheet when the charity 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.
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.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
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 charity’s contractual obligations expire or are discharged or cancelled.
1.10 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 charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.11 Taxation
As a registered charity, the charity is entitled to the exemption from taxation in respect of income and capital gains received with sections 478-489 of the Corporation Tax Act 2010 and section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects purposes only.
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EVERYMAN THEATRE CARDIFF LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023
2 Critical accounting estimates and judgements
In the application of the charity’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.
3 Donations and legacies
| **Unrestricted ** | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2023 | 2022 | |
| £ | £ | |
| Donations and gifts | 273 | 1,699 |
4 Charitable activities
| Ticket sales Membership Concessions and bar |
2023 £ 210,291 4,200 37,068 251,559 |
2022 £ 183,619 2,824 38,916 |
|---|---|---|
| 225,359 |
5 Other trading activities
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2023 | 2022 | |
| £ | £ | |
| Fundraising and other | 4,015 | 2,318 |
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EVERYMAN THEATRE CARDIFF LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023
6 Investments
| **Total ** | Unrestricted | |
|---|---|---|
| funds | ||
| 2023 | 2022 | |
| £ | £ | |
| Interest receivable | - | 58 |
7 Charitable activities
| Depreciation Rights Production costs Set/theatre hire Costumes Directors fees Artists fees Concessions and bar stock Marketing Rent Utilities Construction costs Hires Infrastructure Security Miscellaneous costs Share of governance costs (see note 8) Analysis by fund Unrestricted funds Restricted funds |
2023 £ 409 28,536 2,485 24,533 9,873 14,072 4,905 19,163 26,873 3,651 44 10,618 - 110,345 19,621 5,304 280,432 2,481 282,913 281,158 1,755 282,913 |
2022 £ 408 17,510 15,583 20,279 13,229 15,209 1,525 18,885 23,611 2,873 270 40,850 45,228 8,898 16,397 9,117 |
|---|---|---|
| 249,872 1,800 |
||
| 251,672 | ||
| 246,270 5,402 |
||
| 251,672 |
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EVERYMAN THEATRE CARDIFF LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023
8 Support costs
| Support costs | ||
|---|---|---|
| Support costs Governance costs £ £ Independent examination fees - 2,481 - 2,481 Analysed between Charitable activities - 2,481 |
2023 £ 2,481 2,481 2,481 |
2022 £ 1,800 |
| 1,800 | ||
| 1,800 |
9 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
10 Employees
The average monthly number of employees during the year was:
| 2023 | 2022 | |
|---|---|---|
| Number | Number | |
| Total | - | - |
There were no employees whose annual remuneration was more than £60,000.
11 Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
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EVERYMAN THEATRE CARDIFF LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023
| 12 Tangible fixed assets Cost At 1 November 2022 At 31 October 2023 Depreciation and impairment At 1 November 2022 Depreciation charged in the year At 31 October 2023 Carrying amount At 31 October 2023 At 31 October 2022 13 Debtors Amounts falling due within one year: Other debtors Prepayments and accrued income 14 Creditors: amounts falling due within one year Notes Bank loans 16 Trade creditors Accruals and deferred income 15 Creditors: amounts falling due after more than one year Borrowings |
Plant and equipment £ 3,719 3,719 3,310 409 3,719 - 409 2023 2022 £ £ 53,274 30,445 - 3,433 53,274 33,878 2023 2022 £ £ 971 - - 3,811 6,160 3,947 7,131 7,758 2023 2022 £ £ 9,369 10,944 |
Plant and equipment £ 3,719 3,719 3,310 409 3,719 - 409 2023 2022 £ £ 53,274 30,445 - 3,433 53,274 33,878 2023 2022 £ £ 971 - - 3,811 6,160 3,947 7,131 7,758 2023 2022 £ £ 9,369 10,944 |
|---|---|---|
| 3,719 | ||
| 3,310 409 |
||
| 3,719 | ||
| - | ||
| 409 | ||
| 2022 £ 30,445 3,433 |
||
| 33,878 | ||
| 2022 £ - 3,811 3,947 |
||
| 7,758 | ||
| 2022 £ 10,944 |
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EVERYMAN THEATRE CARDIFF LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023
16 Loans and overdrafts
| Bank loans Other loans Payable within one year Payable after one year |
2023 £ 971 9,369 10,340 971 9,369 |
2022 £ - 10,944 |
|---|---|---|
| 10,944 | ||
| - 10,944 |
A loan amount of £10,944 was received in February 2021 from WCVA with interest payable after 24 months at a rate of 3%. A payment plan has been arranged and the loan will be repaid in full by March 2031.
17 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:
| Movement in funds | Movement in funds | ||||||
|---|---|---|---|---|---|---|---|
| Balance at | Incoming | Resources | Balance at | Resources | Balance at | ||
| 1 | November | resources | expended | 1 November | expended | 31 October | |
| 2021 | 2022 | 2023 | |||||
| £ | £ | £ | £ | £ | £ | ||
| WCVA | 7,157 | - | (5,402) | 1,755 | (1,755) | - |
WCVA
Funding received from the third sector resilience fund.
18 Designated funds
The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:
| Movement | |||
|---|---|---|---|
| in funds | |||
| Incoming | Balance at | Transfers | Balance at |
| resources | 1 November | 31 October | |
| 2022 | 2023 | ||
| £ | £ | £ | £ |
| - | - | 50,000 | 50,000 |
| - | - | 50,000 | 50,000 |
Festival setup costs
This fund is held for festival setup costs for the next financial year.
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| Total | 2022 | £ | 409 | 100,384 | (10,944) | 89,849 | |||
|---|---|---|---|---|---|---|---|---|---|
| Restricted | funds | 2022 | £ | - | 1,755 | - | 1,755 | ||
| Total Unrestricted | funds | 2023 2022 |
£ £ |
- 409 |
72,152 98,629 |
(9,369) (10,944) |
62,783 88,094 |
||
| Restricted | funds | 2023 | £ | - | - | - | - | ||
| Designated | funds | 2023 | £ | - | 50,000 | - | 50,000 | ||
| Unrestricted | funds | 2023 | £ | - | 22,152 | (9,369) | 12,783 | ||
| Analysis of net assets between funds | Fund balances at 31 October 2023 are represented by: | Tangible assets | Current assets/(liabilities) | Long term liabilities | |||||
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EVERYMAN THEATRE CARDIFF LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023
20 Related party transactions
There were no disclosable related party transactions during the year (2022 - none).
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