##
|||||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||||
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|||||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|
##
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##
##
|||||||||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.||
##
|22.|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)|
##
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##
##
|A summary
ofthe|A summary
ofthe|results|of|the subsidiary|the subsidiary|is shown|below:|||
|---|---|---|---|---|---|---|---|---|---|
|||||||||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|