||||Page| |---|---|---|---| |Report ofthe|Trustees||| |Report ofthe|Independent|Auditors|| |Consolidated|Statement|of Financial Activities|| |Consolidated|and Charity|Balance Sheets|| |Consolidated|Cash Flow|Statement|| |Notes to the|Consolidated|Cash Flow Statement|12| |Notes to the|Financial Statements||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||Unrestricted|Restricted|Total|Total| |---|---|---|---|---|---|---|---| |||||Funds|Funds|Funds|Funds| |||||2022|2022|2022|2021| ||||Notes||F|F|F| |INCOME AND ENDOWMENTS||FROM|||||| |Donations
and legacies||||687,000||687,000|825,698| |Charitable
activities|||||||| |Education
and training|through|artistic||376,345|414,051|790,396|395,475| |performance|||||||| |Other trading activities||||37,7?3||37,773|9,498| |Other income||||4,395||4,395|81| |Total||||1,105,513|414,051|1,519,564|1,230,752| |EXPENDITURE ON|||||||| |Cost ofother trading activates||||12,419||12,419|| |Charitable
activities|||||||| |Education
and training|through|artistic||716,079|720,635|1,436,714|769,137| |performance|||||||| |Other|||||||| |Total||||728,498|720,635|1,449,133|769,401| |NET INCOME/(EXPENDITURE)||||377,015|(306,584)|70,431|461,351| |RECONCILIATION
OF|FUNDS||||||| |Total funds
brought forward||||1,275,545|356,685|1,632,230|1,170,879| |TOTAL FUNDS CARRIED FORWARD||||1,652,560|50,101|1,702,661|1,632,230| ## |||||Group||Charity| |---|---|---|---|---|---|---| ||||2022|2021|2022|2021| |||Notes||||| |FIXEDASSETS||||||| |Tangible assets||15|1,242,299|1,313,112|1,242,299|1,313,112| |Investments||16|||1|1| ||||1,242,299|1,313,112|1,242,300|1,313,113| |CURRENT ASSETS||||||| |Debtors: amounts
Stocks|falling due within one year|17|283,409
5,484|59,707
3,170|98,066|64,606| |Cash at bank|||530,181|554,203|528,852|553,927| ||||819,074|617,080|626,918|618,533| |CREDITORS||||||| |Amounts
falling due within one year||18|(171,604)|(102,532)|(166,084)|(101,082)| |NET CURRENT ASSETS|||647,470|514,548|460,834|517,451| |TOTAL ASSETS|LESSCURRENT LIABILITIES||1,889,769|1,827,660|1,703,134|1,830,564| |CREDITORS||||||| |Amounts
falling due after more than one year||19|(187,108)|(195,430)|(187,108)|(195,430)| |NET ASSETS|||1,702,661|1,632,230|1,519,026|1,635,134| |FUNDS||22||||| |Unrestricted
funds:||||||| |General fund|||1,652,560|1,275,545|1,465,925|1,278,449| |Restricted funds|||50,101|356,685|50,101|356,685| |NET ASSETS|||1,702,661|1,632,230|1,516,026|1,635,134| ||||||2022|2021| |---|---|---|---|---|---|---| |Cash flows from operating|activities. "|||Notes|E|| |Cash generated
from operations
Taxation|||||15,487|562,556
37,722| |Net cash provided
by (used in) operating
activities|||||15,487|600,278| |Cash flows from investing|activities:|||||| |Purchase oftangible
fixed assets|||||(33,919)|(27,259)| ||||||2,332|| |Net cash provided
by (used in) investing
activities|||||(31,587)|(27,259)| |Cash flows from financing|activities:|||||| |Loan repayments
in year|||||~7,922)|~7,973)| |Net cash provided
by (used
activities|in) financing||||(?,922)|(7,613)| |Change
in cash and cash equivalents
reporting
period||in the|||(24,022)|565,406| |Cash and cash equivalents
the reporting
period|at the beginning||of||554,203|(11,203)| |Cash and cash equivalents|at the end|ofthe||||| |reporting
period|||||530,181|554,203| ## ## ## |RECONCILIATION
OF NET INCOME/(EXPENDITURE)|RECONCILIATION
OF NET INCOME/(EXPENDITURE)|RECONCILIATION
OF NET INCOME/(EXPENDITURE)|TG NET CASH FLOW|FROM|| |---|---|---|---|---|---| |OPERATING ACTIViTIES|||||| |||||2022|2021| |Net income/(expenditure)
for the reporting||period (as|per the statement|70,431|461,351| |offinancial activities)|||||| |Adjustments
for:|||||| |Depreciation
charges||||102,439|100,542| |Loss on disposal offixed assets||||(39)|(3,450)| |Write back ofretention
on freehold|property||||24,621| |Theatre tax relief claim||||(187,270)|| |(Increase)/decrease
in stock||||(2,314)|263| |(Increase)/decrease
in debtors||||(36,432)|{25,180)| |Increase/{decrease}
in creditors||||68,6?2|4,409| |Net cash provided
by (used in) operating||activities||15,487|562,556| |ANALYSIS OF CASH AND CASH|EQUIVALENTS||||| |||||2022|2021| |Cash in hand||||16,207|18,981| |Cash at bank||||513,974|535,222| |Total cash and cash equivalents||||530,181|554,203| |ANALYSIS OF CHANGES
IN NET DEBT|||||| ||||At 1/4/21|Cash flow|At 31/3/22| ||||E||| |Net cash|||||| |Cash at bank and in hand|||554,203|~24,022)|530,181| ||||554,203|~24,022)|530,181| |Debt|||||| |Debts falling due within one year|||(7,463)|{400)|(7,863}| |Debts falling due after one year|||L)95.443300)|8,322|)187,108)| ||||)202,883)|7,922|L)94.997711)| |Total|||351,31D|~18,100)|335,210| ## ## ## ## ## ## ## ## ## ## ## |DONATIONS|AND LEGACIES|||| |---|---|---|---|---| ||||2022|2021| |Donations|||7,725|4,196| |Gift aid||||1,078| |Grants|||679,275|820,424| |Donated services and facilities||||| ||||687,000|825,698| |Grants received were as follows:||||| ||||2022|2021| ||||F|E| |Arts Council|ofVVales - revenue|funding|196,749|196,749| |Arts Council|England - NPO funding||204,861|204,861| |Job retention|scheme grant||32,068|160,724| |Arts Council|ofWales —Covid-19 recovery fund||95,325|234,090| |Arts Council|ofEngland —Covid-19 recovery fund||150,272|| |Small business COVID-19 local||support scheme||24,000| ||||679,275|820,424| ## ## ## ## ## ## |OTHER TRADING ACTIVITIES||| |---|---|---| ||2022|2021| ||E|| |Corporate sponsorship
Catering
income|798|9,261| |Bar takings and popcorn sales
Merchandising
Rent and hires|31,195
3,346|237| |Professional fees
Other|2,434|| ||37,773|9,498| |INCOME FROM CHARITABLE ACTIVITIES||| ||2022|2021| |Grants
Performance
fees
Workshop fees
Community
performances
Theatre tax relief claim|427,051
138,215
31,744
6,116
187,270|389,77Q
5,?05| ||790,396|395,475| |Grants received,
included
in the above, are as follows:|||| |---|---|---|---| |||2022|2021| |Arts Council ofWales —project funding
to support the Transitions
The Rayne Foundation
Arts Council ofWales —Creative Collaborations
The British Council —Drum up a circus
Arts Council ofWales —Reimagining
a community
Community
Foundation
Wales —COVID-19 Resilience fund
Garfield Weston Foundation
Arts Council ofWales —Connect and Flourish funding
to support
Arts Council ofWales —COVID-19:Support for Arts Organisations
Moondance
Foundation
Paul Hamlyn
Foundation
Gibs Trust
Creative Scotland —Circus Village|project
the Circus Village
(Capital)|2,973
10,000
8,000
129,121
60,000
82,000
3,000
25,000|13,379
1,50Q
2,500
9,000
31,910
14,520
276,260
32,786
7,915| |Arts Council of England
Circus Village
Arts 8 Business Cymru —Creative
internship
programme
Arts 8 Business Cymru —Culture Step||98,859
6,704
1,394|| |||427,051|389,7?0| ## ## |erforma|nce fees, included
in the above, are as|follows:|| |---|---|---|---| |||2022|2021| |Lexicon|tour|138,215|| |||138,215|| |COSTS OF O|THER TRADING ACTIVITIES||| |---|---|---|---| |||2022|2021| ||||E| |Bar and popcorn costs||12,419|| |Merchandising|costs||264| |||12,419|| |||||||Direct costs|Support costs|Totals| |---|---|---|---|---|---|---|---|---| |||||||(Seenote 9)|{Seenote 10)|| |||||||E||| |Education|and|training|through|artistic|performance|1,150,258|286,456|1,436,714| ## ## ## ## ## ## ||||2021|2021|2021| |---|---|---|---|---|---| ||||Unrestricted|Restricted|Total funds| ||||funds|funds|| |INCOME AND ENDOWMENTS||FROM|||| |Donations
and legacies|||591,608|234,090|825,698| |Charitable
activities|||||| |Education
and training|through|artistic performance|5,705|389,770|395,475| |Other trading activities|||9,498||9,498| |Other income|||81||81| |Total|||606,892|623,860|1,230,752| |EXPENDITURE ON|||||| |Cost ofother trading activates|||||| |Charitable
activities|||||| |Education
and training|through|artistic performance|500,005|269,132|769,137| |Other|||||| ||||500,269|269,132|769,401| |NET INCOME/(EXPENDITURE)|||106,623|354,728|461,351| |Transfer between funds|||22,435|(22,435)|| |RECONCILIATION
OF|FUNDS||||| |Total funds brought forward|||1,146,487|24,392|1,170,879| |TOTAL FUNDS CARRIED FORWARD|||1,275,545|356,685|1,632,230| ## ## ||Long||||| |---|---|---|---|---|---| ||leasehold||||| ||property|||Fixtures 8|| ||improvements|Equipment|Motor vehides|fittings|Totals| ||E||F||| |COST|||||| |At 1 April 2021
Additions
Disposals|1,36Q,182|511,120
29,250
~19,819)|54,596
1,500|13,637
3,169
~2,332)|1,939,535
33,919
~22,151)| |At 31 March 2022|1,360,182|520,551|56,096|-14,474|1,951,303| |DEPRECIATION|||||| |At 1 April 2021
Charge for year
Eliminated
on disposal|190,407
27,204|396,936
67,351
~19,819)|35,929
5,246|3,151
2,638
~39}|626,423
102,439
~19,858)| |At 31 March 2022|217,611|444,468|41,175|5,750|709,004| |NET BOOK VALUE|||||| |At 31 March 2022|1,142,571|76,083|14,921|8,724|1,242,299| |At 31 March 2021|1,169,775|114,184|18,667|1Q,486|1,313,112| ## ## |Shares|in| |---|---| |group|| |undertakings|| ## ||||||Group|Group|Charity|Charity| |---|---|---|---|---|---|---|---|---| ||||||2022|2021|2022|2021| |Trade debtors|||||7,127|360|7,127|360| |Amounts
owed||by group undertakings|||||1,927|4,899| |Other debtors||||||1,241||1,241| |VAT||||||9,201||9,201| |Prepayments|and accrued income||||89,012|48,905|89,012|48,905| |Theatre tax relief recoverable|||||187,270|||| ||||||283,409|59,?07|98,066|64,606| |CREDITORS:||AMOUNTS
FALLING||DUE WITHIN ONE YEAR- Group and chaiity||||| ||||||Group|Group|Charity|Charity| ||||||2022|2021|2022|2021| ||||||F|F|F|| |Bank loans and overdraft (see note 20}|||||7,863|7,463|7,863|7,463| |Trade creditors|||||40,314|3,294|36,592|3,294| |Social security||and other taxes|||10,043|9,603|10,043|9,603| |VAT|||||2,532||2,364|| |Other creditors|||||2,478|2,104|2,4?8|2,104| |Accruals and deferred|||income||108,374|80,068|106,744|78,618| ||||||171,604|102,532|166,084|101,082| |Included
within||Accruals and deferred||income above is the following||deferred
income:||| ||||||||2022|2021| |Moondance
Foundation||||||||60,000| |British Council||||||||8,000| |WCVA|||||||26,610|| |Sabotage box|office||||||55,017|| ||||||||81,627|68,000| ## |19.|CREDITORS: AMOUNTS|FALLING DUE AFTER|MORE THAN ONE YEAR —Group and charity|| |---|---|---|---|---| ||||2022|2021| ||||E|| ||Bank loans (see note 20)||187,108|195,430| |20.|LOANS|||| ||An analysis ofthe maturity ofloans is given below:|||| ||||2022|2021| ||||E|| ||Amounts
falling due within one year on demand:|||| ||Bank overdraft|||| ||Bank loans||7,863|7,463| ||||7,863|7,463| ||Amounts
falling between one and two years:|||| ||Bank loans - 1-2years||7,863|7,463| ||Amounts
falling due between
Bank loans - 2-5 years|two and five years:|25,588|24,388| ||Amounts
falling due in more|than five years:||| ||Repayable
by instalments:|||| ||Bank loans more 5years by|instalments|153,657|163,579| |21.|SECURED DEBTS|||| ||The following secured debts|are included
within creditors:||| ||||2022|2021| ||||E|E| ||Bank loans||194,971|202,893| ||||194,971|202,893| ||There is a fixed and floating charge over the assets||ofthe group.|| ||The bank loan is secured against the long leasehold||property.|| ## ## |||||||||Net movement|Transfers|| |---|---|---|---|---|---|---|---|---|---|---| |||||||At|1/4/21|in funds|between funds|At 31/3/22| ||||||||E|F|F|E| |Unrestricted
funds||||||||||| |General fund||||||1,275,545||377,015|(96,000)|1,556,560| |Designated
fund —production||fund|||||||96,000|96,000| |||||||1,275,545||377,015||1,652,560| |Restricted funds||||||||||| |Youth Circus|||||||1,750|{1,750)||| |Arts Council ofWales —Creative|||||||34,909|(34,909)||| |Collaborations||||||||||| |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||||||||||| |Paul Hamlyn
Foundation||||||||50,101||50,101| |||||||356,685||{306,584)||50,101| |TOTAL FUNDS||||||1,632,230||70,431||1,?02,661| |Net movement
in funds,|included||in the above are as follows:|||||||| |||||||||Incoming|Resources|Movement
in| |||||||||resources|expended|funds| ||||||||||F|| |Unrestricted
funds||||||||||| |General fund||||||||1,105,513|(728,498)|377,015| |Restricted funds||||||||||| |Arts Council ofWales - Transition||||||||2,973|(2,973)|| |Arts 8 Business
Cymru —Culture|||Step|||||1,394|{1,394)|| |Youth Circus|||||||||(1,750)|(1,750)| |The British Council —Drum up||a Circus||||||8,000|{8,000)|| |Arts Council ofWales —COVID-19: Support for Arts|||||||||(34,909)|(34,909)| |Organisations
(Revenue)||||||||||| |Arts Council ofWales —Re-imagining||||a community|||||{10,980)|(10,980)| |Garfield Weston|||||||||{276,260)|{276,260)| |Arts Council ofWales —Connect and Flourish|||||funding|to||||| |support the Circus||||||||252,980|(285,766)|(32,786)| |Moondance
Foundation|—Community|||Core Programme||||60,000|{60,000)|| |Arts 8 Business
Cymru —Creative|||Internship||Programme|||6,704|(6,704)|| |Paul Hamlyn
Foundation||||||||82,000|(31,899)|50,101| |||||||||414,051|(720,635)|(306,584)| |TOTAL FUNDS||||||||1,519,564|~1,449, 133)|70,431| ## |MOVEMENT
IN FUNDS —continued|MOVEMENT
IN FUNDS —continued||||||| |---|---|---|---|---|---|---|---| |Comparatives
for movement
in funds|||||||| ||||||Net movement|Transfers|| ||||At 1/4/20||in funds|between
funds|At 31/3/21| |||||F|F|F|E| |Unrestricted
funds|||||||| |General
fund|||1,146,487||106,623|22,435|1,275,545| |Restricted funds|||||||| |The British Council - Drum up a circus
Arts Council ofWales —Creative
Coilaborations||||11,992
12,400|(11,992)
(12,400}||| |Youth Circus
Arts Council ofWales —COVID-19: Support
for Arts Organisations
(Revenue)|||||1,750
34,909||1,750
34,909| |Community
Foundation
Wales —Coronavirus
Resilience
Fund|||||14,520|{14,520)|| |Arts Council ofWales —Re-imagining
community|a||||10,980||10,980| |Garfield Weston
Arts Council ofWales —Connect and Flourish|||||276,260
32,786||276,260
32,786| |funding
to support
the Circus Village|||||||| |Arts Council ofWales COVID-19: Support for
Arts Organisation
(Capital)|||||7,915|(7,915)|| |||||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| ||||||E|F|F-| |Unrestricted
funds|||||||| |General fund|||||606,892|(500,269)|106,623| |Restricted funds|||||||| |Arts Council Wales —Transitions
Arts Councii ofWales —Creative Collaborations
Youth Circus
The British Council —Drum up a circus
Arts Council ofWales —COVID-19: Support for Arts
Organisations
(Revenue)|||||13,3?9
1,500
2,500
9,000
234,090|(13,379)
(13,900)
{750)
(20,992)
{199,181}|(12,400)
1,750
(11,992)
34,909| |Community
Foundation
Wales —Coronavirus
Resilience
Arts Council ofWales —Re-imagining
a community
Garfield Weston
Arts Council ofWales —Connect and Flourish funding
to
support the Circus Village||||Fund|14,520
31,910
276,260
32,786|(20,930)|14,520
10,980
276,260
32,786| |Arts Council ofWales —COVID-19: Support for Arts
Organisations
{Capital)|||||7,915||?,915| ||||||623,860|{269,132)|354,728| |TOTAL FUNDS|||||||| ||||||1.230,752|~769,401I|461,351| ## ## ## ## ## ## ## |A summary
of|the|results|ofthe subsidiary|is shown|below:||| |---|---|---|---|---|---|---|---| |||||||2022|2021| |Turnover||||||661,764|237| |Cost ofsales||||||(658,248)|(264)| |Gross profit||||||3,516|{27)| |Administrative|expenses|||||(1,247)|{2,877)| |Profit on ordinary||activities before taxation||||2,269|2,904| |Tax on loss on ordinary|||activities|||187,270|| |Profit for the financial year|||||||| |||||||189,539|2,904| |The aggregate|of|the assets, liabilities and||funds was:|||| |||||||2022|2021| |Assets||||||194,083|3,446| |Liabilities||||||(7,447)|(6,349)| |Funds (including||1 ordinary share ofE1)||||186,635|2,903| ## ## |||Restricted|Unrestricted|| |---|---|---|---|---| |||funds|funds|Total| |Fund balances|at 31 March 2022|||| |are represented|by:|||| |Tangible fixed assets|||1,242,299|1,242,299| |Current assets||76,711|742,363|819,074| |Current
liabilities
Long term liabilities||(26,610)|(144,994)
~18?,108i|(171,604)
~187,108)| |otal net assets||50,101|1,652,560|1,?02,661|