|Contents ofthe|Contents ofthe|inancial Statements||||
|---|---|---|---|---|---|
|for the Year Ended 31October 2022||||||
|||||Page||
|Reference and Administrative
Details||||||
|Report ofthe Trustees|||2|to|3|
|Independent
Examiner's|Report|||||
|Statement ofFinancial|Activities|||||
|Balance Sheet||||||
|Cash Flow Statement||||||
|Notes to the Cash Flow|Statement|||||
|Notes to the Financial Statements|||9|to|16|
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|||fo|r the Year En|ded 31 October|2022|||
|---|---|---|---|---|---|---|---|
|||||||2022|2021|
|||||Unrestricted|Restricted|Total|Total|
|||||funds|funds|funds|funds|
||||Notes|F||F|F|
|INCOME AND ENDOWMENTS||FROM||||||
|Donations
and legacies|||2|287,290|22,160|309,450|137,837|
|Charitable
activities||||||||
|Concerts and stage|productions|||128,089|117,077|245,166|211,328|
|Other trading
activities||||22,750||22,750|4,194|
|Investment
income||||134||134|178|
|Other income||||123,125||123,125||
|Total||||561,388|139,237|700,625|353,537|
|EXPENDITURE ON||||||||
|Raising funds||||60,676||60,676|68,903|
|Charitable
activities||||||||
|Concerts and stage|productions|||441,911|139,237|581,148|279,735|
|Total||||502,587|139,237|641,824|348,638|
|NET INCOME||||58,801||58,801|4,899|
|RECONCILIATION|OF FUNDS|||||||
|Total funds brought|forward|||65,486||65,486|60,587|
|TOTAL FUNDS CARRIED FORWARD||||124,287||124,287|65,486|
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||||Balance Sheet|||
|---|---|---|---|---|---|
||||31 October 2022|||
|||||2022|2021|
||||Notes||E|
|CURRENT ASSETS||||||
|Debtors|||16|175,126|53,972|
|Cash at|bank and|in hand||22,824|73,880|
|||||197,950|127,852|
|CREDITORS||||||
|Amounts|falling due within one year||17|(42,903)|(21,836)|
|NET CURRENT ASSETS||||155,047|106,016|
|TOTAL|ASSETS|LESSCURRENT LIABILITIES||155,047|106,016|
|CREDITORS||||||
|Amounts|falling due after more than one year||18|(30,760)|(40,530)|
|NET ASSETS||||124,287|65,486|
|FUNDS|||21|||
|Unrestricted
funds||||124,287|65,486|
|TOTAL|FUNDS|||124,287|65,486|
##
|||for the Year Ended 3|1October 2022||
|---|---|---|---|---|
||||2022|2021|
|||Notes|F|E|
|Cash flows from operating|activities||||
|Cash generated
from operations
Interest paid|||(40,540)
(1,140)|(27,554)
(1,250)|
|Net cash used
in operating|activities||(41,680)|(28,804)|
|Cash flows from investing|activities||||
|Interest received|||134|178|
|Net cash provided
by investing
activities|||134|178|
|Cash flows from financing|activities||||
|Loan repayments
in year|||(9,510)||
|Net cash (used in)/provided|by financing|activities|(9,510)||
|Change
in cash and cash equivalents||in|||
|the reporting
period
Cash and cash equivalents|at the||(51,056)|(28,626)|
|beginning
ofthe reporting|period||73,880|102,506|
|Cash and cash equivalents|at the end|of|||
|the reporting
period|||22,824|73,880|
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||||Notes to the Cash Flow Statement
for the Year Ended 31 October 2022|Notes to the Cash Flow Statement
for the Year Ended 31 October 2022|Notes to the Cash Flow Statement
for the Year Ended 31 October 2022|Notes to the Cash Flow Statement
for the Year Ended 31 October 2022|||
|---|---|---|---|---|---|---|---|---|
||RECONCILIATION||OF NET INCOME TO NET CASH FLOW FROM OPERATING||||ACTIVITIES||
||||||||2022|2021|
||||||||F||
||Net income|for the reporting||||period (as per the Statement ofFinancial|||
||Activities)||||||58,801|4,899|
||AdJustments|for:|||||||
||Interest received||||||(134)|(178)|
||Interest paid||||||1,140|1,250|
||Increase
in debtors||||||(121,154)|(33,367)|
||Increase/(decrease)||in|creditors|||20,807|(158)|
||Net cash used In||operations||||(40,540)|(27,554)|
|2.|ANALYSIS OF CHANGES||||IN|NET FUNDS/(DEBT)|||
|||||||At 1.11.21|Cash flow|At 31.10.22|
|||||||F|F|F|
||Net cash||||||||
||Cash at bank and||in hand|||73,880|(51,056)|22,824|
|||||||73,880|(51,056)|22,824|
||Debt||||||||
||Debts falling|due within||1 year||(9,470)|(260)|(9,730)|
||Debts falling|due after||1 year||(40,530)|9,770|(30,760)|
|||||||(50,000)|9,510|(40,490)|
||Total|||||23,880|(41,546)|(17,666)|
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||||||||2022|2021|
|---|---|---|---|---|---|---|---|---|
||||||||F|E|
|Deposit account|||interest||||134|178|
|INCOME FROM|||CHARITABLE ACTIVITIES||||||
||||||||2022|2021|
||||||||Concerts||
||||||||and stage|Total|
||||||||productions|activities|
||||||||F||
|Event sales|||||||128,089|93,001|
|Grants|||||||117,077|118,327|
||||||||245,166|211,328|
|Grants received,|||included|in the above, are||as follows:|||
||||||||2022|2021|
|||||||||E|
|Culture Recovery|||Fund||||117,077|117,077|
|Government||grant to cover|||first 12months|interest on Bounce Back Loan||1,250|
||||||||117,077|118,327|
|OTHER INCOME|||||||||
||||||||2022|2021|
||||||||F||
|Tax credit|||||||123,125||
|RAISING FUNDS|||||||||
|Other trading||activities|||||||
||||||||2022|2021|
|Marketing|||||||51,105|55,299|
|Fundraising|and other direct||||costs||9,571|13,604|
||||||||60,676|68,903|
|CHARITABLE ACTIVITIES|||||COSTS||||
|||||||Direct|Support||
|||||||Costs (see|costs (see||
|||||||note 9)|note 10)|Totals|
|||||||F|||
|Concerts and||stage productions||||373,997|207,151|581,148|
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|9.|DIRECT C|O|STS|OF C|HARITABL|E|ACTIVITIES|||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||2022|2021|
|||||||||||E||
||Boxoffice|costs||||||||12,714|7,512|
||Opera production|||costs||||||244,721|90,698|
||Hospitality|||||||||7,611|1,042|
||Venue hire|||||||||72,198|35,687|
||Other venue||costs|||||||30,196|14,876|
||Education|project||||||||6,557||
|||||||||||373,997|149,815|
|10.|SUPPORT|COSTS||||||||||
|||||||||||Governance||
|||||||Management||Finance|Other|costs|Totals|
|||||||||F|E|F|F|
||Concerts and||stage|||||||||
||productions||||||157,356|1,177|31,856|16,762|207,151|
||Support costs, included||||in the above,||are as follows:|||||
|||||||||||2022|2021|
|||||||||||Concerts||
|||||||||||and stage|Total|
|||||||||||productions|activities|
|||||||||||E||
||Wages|||||||||154,283|77,307|
||Social security|||||||||2,866|889|
||Contractors|||||||||207|7,000|
||Consultancy||||||||||13,418|
||Bank charges|||||||||37|39|
||Interest payable|||and similar charges||||||1,140|1,250|
||Rent|||||||||5,722|7,970|
||Insurance|||||||||3,104|1,661|
||Office costs|||||||||23,030|13,246|
||Accountancy|||||||||10,784|2,720|
||Bookkeeping|||||||||5,978|4,420|
|||||||||||207,151|129,920|
|11.|NET INCOME/(EXPENDITURE)|||||||||||
||Net income/(expenditure)||||is stated|after charging/(crediting):||||||
|||||||||||2022|2021|
|||||||||||E||
||Independent||Examiner's||fee|||||2,796|2,460|
||Independent||Examiner||other fees|||||6,839|270|
||Independent||Examiner||other fees|prior year under accrual||||1,149||
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|STAFF COSTS|||||||||
|---|---|---|---|---|---|---|---|---|
||||||||2022|2021|
||||||||E||
|Wages and salaries|||||||154,283|77,307|
|Social security costs|||||||2,866|889|
||||||||157,149|78,196|
|The average
monthly
number ofemployees||||during the year was as follows:|||||
||||||||2022|2021|
|Administration|||||||5|3|
|No employees
received emoluments||in|excess ofF60,000.||||||
|Key management
personnel|||||||||
|The total amount
of employee|benefits||received
by key management|||personnel|is F91,386 (2021: F69,450)
a||
|included
Fnil (2021:F7,000) of
the Trustees and the Executive|contractor
costs. The charity considers
its key
Director, Artistic Director and General Manager.||||||management
personnel|compris|
|COMPARATIVES FOR THE STATEMENT||||OF FINANCIAL ACTIVITIES|||||
||||||Unrestricted||Restricted|Total|
|||||||funds|funds|funds|
||||||||F|F|
|INCOME AND ENDOWMENTS|FROM||||||||
|Donations
and legacies||||||119,107|18,730|137,837|
|Charitable
activities|||||||||
|Concerts and stage productions||||||94,251|117,077|211,328|
|Other trading
activities||||||4,194||4,194|
|Investment
income||||||178||178|
|Total||||||217,730|135,807|353,537|
|EXPENDITURE ON|||||||||
|Raising funds||||||68,903||68,903|
|Charitable
activities|||||||||
|Concerts and stage productions||||||128,253|151,482|279,735|
|Total||||||197,156|151,482|348,638|
|NET INCOME/(EXP ENDITURE)||||||20,574|(15,675)|4,899|
|RECONCILIATION
OF FUNDS|||||||||
|Total funds brought
forward||||||44,912|15,675|60,587|
|TOTAL FUNDS CARRIED FORWARD||||||65,486||65,486|
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|15.|TANGIBLE F|IXED|ASSE|TS||||
|---|---|---|---|---|---|---|---|
||||||||Fixtures|
||||||||and|
||||||||fittings|
||||||||F|
||COST|||||||
||At 1 November
2021 and|||31|October 2022||1,641|
||DEPRECIATION|||||||
||At 1 November|2021 and||31|October 2022||1,641|
||NET BOOK VALUE|||||||
||At 31 October|2022||||||
||At 31 October|2021||||||
|16.|DEBTORS: AMOUNTS
FALLING DUE WITHIN ONE YEAR|||||||
|||||||2022|2021|
|||||||F.|F.|
||Trade debtors|||||823|725|
||Other debtors|||||1,178|2,562|
||Prepayments|and accrued||income||173,125|50,685|
|||||||175,126|53,972|
|17.|CREDITORS:|AMOUNTS||FALLING DUE WITHIN ONE YEAR||||
|||||||2022|2021|
|||||||F||
||Bank loans and overdrafts|||(see note 19)||9,730|9,470|
||Trade creditors|||||7,313|3,818|
||Social security|and other taxes||||4,413|3,254|
||Other creditors|||||12|364|
||Accruals|||||5,675|4,930|
||Deferred income|||||15,760||
|||||||42,903|21,836|
|18.|CREDITORS:|AMOUNTS||FALLING DUE AFTER MORE THAN ONE YEAR||||
|||||||2022|2021|
|||||||F|F|
||Bank loans (see note 19)|||||30,760|40,530|
|19.|LOANS|||||||
||An analysis
of|the maturity||of|loans is given below:|||
|||||||2022|2021|
|||||||F|F,|
||Amounts
falling due||within|one year on demand:||||
||Bank loans|||||9,730|9,470|
||Amounts
falling between one||||and two years:|||
||Bank loans - 1-2 years|||||9,989|9,730|
||Amounts
falling due||between||two and five years:|||
||Bank loans -2-5 years|||||20,771|29,968|
||Amounts
falling due||in more than five years:|||||
||Repayable
by|instalments:||||||
||Bank loans more 5yr by instal||||||832|
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||||||||2022|2021|
|---|---|---|---|---|---|---|---|---|
||||||Unrestricted|Restricted|Total|Total|
||||||funds|funds|funds|funds|
||||||F|F||F|
|Current assets|||||197,950||197,950|127,852|
|Current
liabilities|||||(42,903)||(42,903)|(21,836)|
|Long term liabilities|||||(30,760)||(30,760)|(40,530)|
||||||124,287||124,287|65,486|
|MOVEMENT
IN FUNDS|||||||||
||||||||Net||
|||||||At|movement|At|
|||||||1.11.21|in funds|31.10.22|
|||||||F.|F|F|
|Unrestricted
funds|||||||||
|General
fund||||||65,486|58,801|124,287|
|TOTAL FUNDS||||||65,486|58,801|124,287|
|Net movement|in funds,|included||in the above|are as follows:||||
|||||||Incoming|Resources|Movement|
|||||||resources|expended|in funds|
||||||||F||
|Unrestricted
funds|||||||||
|General
fund||||||561,388|(502,587)|58,801|
|Restricted
funds|||||||||
|CEO and Artistic Director||Appeal||||3,050|(3,050)||
|Culture Recovery
Fund||||||117,077|(117,077)||
|Schools Projects||||||6,275|(6,275)||
|Artistic Development||||||12,835|(12,835)||
|||||||139,237|(139,237)||
|TOTAL FUNDS||||||700,625|(641,824)|58,801|
|Comparatives
for movement|||in|funds|||||
||||||||Net||
|||||||At|movement|At|
|||||||1.11.20|in funds|31.10.21|
|||||||F|||
|Unrestricted
funds|||||||||
|General
fund||||||44,912|20,574|65,486|
|Restricted funds|||||||||
|CEO and Artistic|Director|Appeal||||15,675|(15,675)||
|TOTAL FUNDS||||||60,587|4,899|65,486|
##
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|Comparative
|net|moveme|nt
in funds,
included
in th|e above are as follows:|||
|---|---|---|---|---|---|---|
|||||Incoming|Resources|Movement|
|||||resources|expended|in funds|
||||||E|F|
|Unrestricted|funds||||||
|General
fund||||207,550|(186,976)|20,574|
|Iford Arts New|Generation||Artists||||
|Programme||||10,180|(10,180)||
|||||217,730|(197,156)|20,574|
|Restricted funds|||||||
|CEO and Artistic||Director|Appeal|18,730|(34,405)|(15,675)|
|Culture
Recovery||Fund||117,077|(117,077)||
|||||135,807|(151,482)|(15,675)|
|TOTAL FUNDS||||353,537|(348,638)|4,899|
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