2021-03-31-accounts - Nofit State Community Circus Ltd

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				Page
Report ofthe	Trustees
Report ofthe	Independent	Auditors
Consolidated	Statement	ofFinancial	Activities
Consolidated	and Charity	Balance Sheets
Consolidated	Cash Flow	Statement		12
Notes to the	Consolidated	Cash Flow	Statement	13
Notes to the	Financial Statements

				Unrestricted	Restricted	Total	Total
				Funds	Funds	Funds	Funds
				2021	2021	2021	2020
			Notes	F	F	F	F
INCOME AND ENDOWMENTS		FROM
Donations and legacies				591,608	234,090	825,698	6?6,203
Charitable activities
Education and training	through	artistic		5,705	389,770	395,475	1,050,725
performance
Other trading activities				9,498		9,498	105,991
Other income				81		81	3,2?8
Total				606,892	623,860	1,230,752	1,836,197
EXPENDITLIRE QN
Cost ofother trading activates						264	31,066
Charitable activities
Education and training	through	artistic		500,005	269,132	769,137	1,823,055
performance
Other							1,589
Total				500,269	269,132	769,401	1,855,710
NET INCOME/(EXPENDITURE)				106,623	354,728	461,351	(19,513)
Transfer between funds			22	22,435	(22,435)
Net movement in funds				129,058	332,293	461,351	(19,513)
RECONCILIATION OF	FUNDS
Total funds brought forward				1,146,487	24,392	1,170,879	1,190,392
TOTAL FUNDS CARRIED FORWARD				1,275,545	356,685	1,632,230	1,170,879

				Group		Charity
			2021	2020	2021	2020
		Notes		F	F	F
FIXEDASSETS
Tangible assets		15	1,313,112	1,407,566	1,313,112	1,407,566
Investments		16	-	-	1	1
			1,313,112	1,4Q7,566	1,313,113	1,407,567
CURRENT ASSETS
Debtors: amounts	falling due within one year	17	59,707	?2,249	64,606	34,599
Stocks			3,170	3,433
Cash at bank			554,203	13,142	553,927	9,744
			617,080	88,824	618,533	44,343
CREDITORS
Amounts falling due within one year		18	(102,532)	(122,448)	(101,082)	(120,836)
NET CURRENT ASSETS			514,548	33,624)	517,451	~76,493)
TOTAL ASSETS LESSCURRENT LIABILITIES			1,827,660	1,373,942	1,830,564	1,331,074
CREDITORS
Amounts falling due after more than one year		19	(195,430)	(203,063)	(195,430)	(2Q3,063)
NET ASSETS			1,632,230	1,1?0,879	1,635,134	1,128,011
FUNDS
Unrestricted funds:
General fund			1,275,545	1,146,487	1,278,449	1,103,619
Restricted funds			356,685	24,392	356,685	24,392
NET ASSETS			1,632,230	1,170,879	1,635,134	1,128,011

					2021	2020
				Notes
Cash flows from operating	activities:
Cash generated from operations					562,556	36,309
Taxation					37,?22
Net cash provided by (used in) operating
activities					600,278	36,309
Cash flows from investing	activities:
Purchase oftangible fixed assets					~27,259)	~8.477)
Net cash provided by (used in) investing					(27,259)	(27,832)
activities
Cash flows from financing	activities:
Loan repayments in year					~7,613}	~7,987)
Net cash provided by (used in) financing activities					(?,613)	(7,987)
Change in cash and cash	equivalents	in the			565,406	19,845
reporting period
Cash and cash equivalents the reporting period	at the beginning		of		(11,203)	(31,048}
Cash and cash equivalents	at the end	ofthe			554,203	(11,203)
reporting period

RECONCILIATION	OF NET INCOMEl(EXPENDITURE)	OF NET INCOMEl(EXPENDITURE)	OF NET INCOMEl(EXPENDITURE)	OF NET INCOMEl(EXPENDITURE)	OF NET INCOMEl(EXPENDITURE)	TO NET CASH FLOW	FROM
OPERATING ACTIVITIES
							2021	2020
								E
Net income/(expenditure) for the			reporting	period (as per the statement			461,351	{19,513)
offinancial activities)
Adjustments for:
Depreciation charges							100,542	103,667
Loss on disposal of	fixed assets						(3,450)	343
Write back ofretention		on freehold	property				24,621
Theatre tax relief claim								(37,722)
(Increase)/decrease	in	stock					263	(2,525)
(Increase)/decrease	in	debtors					(25,180)	3,421
Increase/(decrease)	in	creditors					4,409	L11,336622)
Net cash provided	by (used in) operating			activities			562,556	36,309
ANALYSIS OF CASH		AND CASH	EQUIVALENTS
							2021	2020
							E
Cash in hand							18,981	9,339
Cash at bank							535,222	3,803
Overdrafts included	in	bank loans and overdrafls			falling due within one year			L24, 334455)
Total cash and cash equivalents							554,203	~11,203)
ANALYSIS OF CHANGES IN NET DEBT
						At 1/4/20	Cash flow	At 31/3/21
							F
Net cash
Cash at bank and in	hand					13,142	541,061	554,203
Bank overdrafts						~24.345)	24,345
						+11,2Q3)	565,406	554,203
Debt
Debts falling due within		one year				(7,443)	{20)	(7,463)
Debts falling due after		one year				~2Q3,063)	7,633	~195,430)
						~21Q,506)	7,613	~2D2,893}
Total						~221,7D9)	573,019	351,310

								2021	2020
									F
Donations								4,196	5,304
Gift aid								1,078	753
Grants								820,424	401,719
Donated	services and facilities								268,427
								825,698	676,203
Analysis	ofmajor components			of		donated services and facilities as shown		above is as follows:
								2021	2020
									E
Marketing									113,911
Provision	of	living site and utilities				(including	site security)		113,587
Technical	staff								34,889
Front ofhouse			staff						6,040
									268,427
Grants received			were as follows:
								2021	2020
Arts Council		of	Wales - revenue		funding			196,749	194,608
Arts Council		England - NPO funding						204,861	201,160
Job retention		scheme grant						160,724	5,951
Arts Council		of	Wales —Covid-19			recovery	fund	234,090
Small business			COVID-19 local		support scheme			24,000
								820,424	401,719

Grants received, includ	ed in the above	,	are	as	follows:
								2021	2020
Hodge Foundation -Youth circus bursaries				and support					10,000
Arts 8 Business Cymru - Culture Step									1,918
BBCChildren in Need									7,760
The Garrick Charitable	Trust								1,500
The Golsoncott Foundation									1,000
Arts Council ofWales	—Safe Circus								5,000
Wales Arts International	—International		Development						3,500
Moondance Foundation									3,100
Sylvia Waddilove Foundation UK									3,000
The Gibbs Charitable	Trust								2,000
The Fenton Arts Trust									5,000
Arts Council ofWales	—project funding		to support the			Transitions	project	13,379	16,343
The Rayne Foundation								2,500	?,500
Arts Council ofWales	—Creative Collaborations							1,500	3,500
The British Council —Drum up a circus								9,000	21,000
Arts Council ofWales	—Reimagining	a	community					31,910
Community Foundation	Wales —COVID-19 Resilience					fund		14,520
Garfield Weston Foundation								276,260
Arts Council ofWales	—Connect and	Flourish			funding	to support	the Circus Village	32,786
Arts Council ofWales	—COVID-19: Support			for Arts Organisations			(Capital)	7,915
								389,770	102,121

erforma	nce fees, included in the above, are as f	ollows:
		2021	2020
		F
BLOCK	tour		2,521
Lexicon	tour		782,679
			785,200

7.	COSTS OF O	THER TRADING ACTIVITIES
			2021	2020
	Bar and popcorn costs			29,489
	Merchandising Other	costs		1,191 386
				31,066
8.	CHARITABLE	ACTIVITIES COSTS

						Direct costs	Support costs	Totals
						(See note 9)	{Seenote 10)
							F
Education	and	training	through	artistic	performance	573,070	196,067	769,137

STAFF	CO	STS
				2021	2020
				E	E
Wages	and	salaries		419,633	455,245
Social security costs				26,303	35,976
Other pension costs				7,?33	8,680
				453,669	499,901
Particulars		ofemployees:
The average		number ofemployees	during the year was as follows:
				2021	2020
				No	No
Average	number ofemployees			31	26

			2020	2020	2020
			Unrestricted	Restricted	Total funds
			funds	funds
			F	F
INCOME AND ENDOWMENTS		FROM
Donations and legacies			676,203		676,203
Charitable activities
Education and training	through	artistic performance	960,604	90,121	1,050,725
Other trading activities			105,991		105,991
Other income			3,278		3,278
Total			1,746,076	90,121	1,836,197
EXPENDITURE ON
Cost ofother trading activates			31,066		31,066
Charitable activities
Education and training	through	artistic performance	1,756,136	66,919	1,823,055
Other			1,589		1,589
Total			1,788,?91	66,919	1,855,710
NET INCOME/(EXPENDITURE)			(42,715)	23,202	(19,513)
RECONCILIATION OF	FUNDS
Total funds brought forward			1,189,202	1,190	1,190,392
TOTAL FUNDS CARRIED FORWARD			1,146,487	24,392	1,170,8?9

	Long
	leasehold
	property			Fixtures 8
	improvements	Equipment	Motor vehicles	fittings	Totals
		E
COST
At 1 April 2020	1,384,803	532,177	54,596	4,662	1,976,238
Additions Disposals	~24,621)	17,736 ~38.793)		9,523 ~548}	27,259 ~63,962)
At 31 March 2021	1,360,182	511,120	54,596	13,637	1,939,535
DEPRECIATION
At 1 April 2020	166,161	370,687	29,396	2,428	568,672
Charge for year Eliminated on disposal	27,696 ~3,450}	65,042 ~38,793)	6,533	1,271 ~548)	100,542 ~42,791)
At 31 March 2021	190,407	396,936	35,929	3,151	626,423
NET BOOK VALUE
At 31 March 2021	1,169,775	114,184	18,667	10,486	1,313,112
At 31 March 2020	1,218,642	161,490	25,200	2,234	1,407,566

Shares	in
gloup
undertakings
	F

				Group	Group		Charity	Charity
				2021	2020		2021	2020
				F			E
Trade debtors				360	2,532		36Q	2,532
Amounts owed by group undertakings							4,899	72
Other debtors				1,241	163		1,241	163
VAT				9,201	10,252		9,201	10,252
Prepayments and accrued income Theatre tax relief recoverable				48,905	21,580 37,722	'	48,905	21,580
				59,707	72,249		64,606	34,599
CREDITORS:	AMOUNTS FALLING		DUE WITHIN ONE YEAR—Group and charity
				Group	Group		Charity	Charity
				2021	2020		2021	2020
							E
Bank loans and overdraft (see note 20) Trade creditors				7,463 3,294	31,788 22,559		7,463 3,294	31,788 22,559
Social security	and other taxes			9,603	17,174		9,603	17,174
VAT					412
Other creditors				2,104	2,190		2,104	2,190
Accruals and deferred		income		8Q,068	48,325		78,618	47,125
				102,532	122,448		1Q1,Q82	120,836
Included within	Accruals and deferred		income above is the following		deferred income:
							2021	2020
							E
Moondance Foundation							60,000
British Council							8,000
							68,000

19.	CREDITORS: AMOUNTS	FALLING DUE AFTER	FALLING DUE AFTER	MORE THAN ONE YEAR—Group and charity
				2021	202Q
				E	F
	Bank loans {seenote 20)			195,430	203,Q63
20.	LOANS
	An analysis ofthe maturity	ofloans is given below:
				2021	2020
	Amounts falling due within	one year on demand:
	Bank overdraft Bank loans			7,463	24,345 7,443
				?,463	31,788
	Amounts falling between one and two years:
	Bank loans - 1-2years			7,463	7,443
	Amounts falling due between two and five years: Bank loans - 2-5years			24,388	24,328
	Amounts falling due in more than five years:
	Repayable by instalments:
	Bank loans more 5years by instalments			163,579	171,292
21.	SECURED DEBTS
	The following secured debts are included		within creditors:
				2021	2Q20
					F
	Bank overdraft				24,345
	Bank loans			202,893	210,506
				202,893	234,851
	There is a fixed and floating	charge over	the assets	ofthe group.
	The bank loan is secured against the long leasehold			property.

MOVEMENT IN FUNDS
						Net movement	Transfers
				At	1/4/20	in funds	between	funds	At 31/3/21
					F	E		E	E
Unrestricted funds
General fund				1,146,487		1Q6,623		22,435	1,2?5,545
Restricted funds
Drum up a circus					11,992	{11,992)
Arts Council ofWales —Creative					12,400	(12,400)
Collaborations
Youth Circus						1,750			1,750
Arts Council ofWales —COVID-19: Support						34,909			34,909
for Arts Organisations (Revenue)
Community Foundation wales —Coronavirus						14,52Q	{14,52Q)
Resilience Fund
Arts Council ofWales —Re-imagining		a				10,980			10,980
community
Garfield Weston						276,260			276,260
Arts Council ofWales —Connect	and	Flourish				32,786			32,786
funding to support the Circus Village
Arts Council ofWales COVID-19: Support for						7,915		(7,915)
Arts Organisation (Capital)
					24,392	354,728	(22,435)		356,685
TOTAL FUNDS			1,170,879			461,351			1,632,230
Net movement in funds, included	in the above		are as	follows:
						Incoming	Resources		Movement in
						resources	expended		funds
						F		F
Unrestricted funds
General fund						606,892	{500,269)		106,623
Restricted funds
Arts Council ofWales - Transition						13,379	(13,379)
Arts Council ofWales - Creative collaborations						1,500	(13,900)		(12,400)
Youth Circus						2,500		(750)	1,750
The British Council —Drum up a Circus						9,0QQ	(20,992)		(11,992)
Arts Council ofWales —COVID-19: Support for Arts						234,090	{199,181)		34,909
Organisations (Revenue)
Community Foundation Wales —Coronavirus			Resilience		Fund	14,520			14,520
Arts Council ofWales —Re-imagining		a community				31,910	(20,930)		10,980
Garfield Weston						276,260			2?6,26Q
Arts Council ofWales —Connect	and	Flourish	funding	to		32,786			32,786
support the Circus Village
Arts Council ofWales —COVID-19: Support for Arts						7,915			7,915
Organisation {Capital)
						623,860	(269,132)		354,728
TOTAL FUNDS						1,236,752	~766,461)		461,351

MOVEMENT IN FUNDS —cont	MOVEMENT IN FUNDS —cont	inued	inued
Comparatives for movement		in funds
				Net movement	Transfers
			At 1/4/19	in funds	between	funds	At 31/3/20
			F	F
Unrestricted funds
General fund			1,189,202	(42,715)			1,146,487
Restricted funds
Drum up a circus				11,992			11,992
International Showcasing BBC—Children in Need			1.190	12,400 ~1,190)			12,400
			1,190	23,202			24,392
TOTAL FUNDS			1.190.392	~19,513)			1,170,879
Net movement in funds,	included		in the above are as follows:
				Incoming	Resources		Movement in
				resources	expended		funds
							F
Unrestricted funds
General fund				1,746,076	(1,788,791)		(42,715)
Restricted funds
Arts Council Wales —Transitions				16,343	(16,343)
Arts 8 Business Cymru —Culture BBC—Children in Need Associate artists programme			Step	1,918 7,760 7,500		(1,918) (8,950) (7,500)	(1,190)
Arts Council ofWales —Safe Circus				5,000		(5,000)
Arts Council ofWales —Creative			collaborations	13,500		(1,100)	12,400
Youth Circus				10,500	(10,500)
Drum up a circus				27,600	(15,608)		11,992
				90,121	(66,919)		23,202
TOTAL FUNDS
				1,835.197	~1,855,710)		~19,513)

A summary ofthe	A summary ofthe	results	the subsidiary	the subsidiary	is shown
						2021	2020
						F
Turnover Cost ofsales						237 (264)	201,229 (194,451)
Gross profit Administrative	expenses					(27} (2,877)	6,?78 (1,632)
Profit on ordinary activities before taxation Tax on loss on ordinary activities						(2,904)	5,146 37,722
Profit for the financial year
						2,904	42,868
The aggregate of		the assets,	liabilities	and	funds was:
						2021	2020
Assets Liabilities						3,446 (6,349)	44,553 (1,684)
Funds (including		1 ordinary	share of	E1)		~2,903)	42,869

	Restricted	Unrestricted
	funds	funds	Total
	F	F	F
Fund balances at 31 March 2021
are represented by:
Tangible fixed assets Current assets Current liabilities Long term liabilities	424,685 (68,000)	1,313,112 192,395 (34,532} ~195,430)	1,313,112 617,080 (102,532) ~195,430)
otal net assets	356,685	1,275,545	1,632,230