## **Trustees' Annual Report for the period** Period start date Period end date 01 04 2021 31 03 2022 **From To** ## Section A Reference and administration details **Charity name** Newmarket Operatic and Dramatic Society Ltd **Other names charity is known by** NOMADS **Registered charity number (if any)** 1120041 **Charity's principal address** The Kings Theatre 16 Fitzroy Street Newmarket, Suffolk **Postcode** CB8 0JW ## **Names of the charity trustees who manage the charity** |1
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20|**Trustee name**|**Office (if any)**|**Dates acted if not for whole**
**year **|**Name of person (or body) entitled**
**to appoint trustee (ifany)**| |---|---|---|---|---| ||Jamie Maguire|Chairman|18/12/19 to 31/3/22|Nomads Membership| ||Sarah Smith|CompanySecretary|17/10/18 to 31/3/22|Nomads membership| ||David Philpott|Treasurer|14/10/19 to 31/3/22|Nomads membership| ||John Hadley|Technical Director|7/5/19 to 31/3/22|Nomads Membership| ||April Murfet|Fund Raising
Director|17/10/18 to 31/3/22|Nomads membership| ||Andrew Thorpe|Youth Director|18/12/19 to 31/3/22|Nomads Membership| ||Chris Brighty|Buildings Manager|14/10/19 to 31/3/22|Nomads Membership| ||Kevin LaPorte|Artistic Director|18/12/19 to 31/1/22|Nomads Membership| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| **Names of the trustees for the charity, if any, (for example, any custodian trustees)** |**Name**|**Dates acted if not for whole year**| |---|---| |n/a|| |n/a|| |n/a|| **TAR** **April 2009** 1 ## **Names and addresses of advisers (Optional information)** |**Names and addresses of advisers (Optional information)**|**Names and addresses of advisers (Optional information)**|**Names and addresses of advisers (Optional information)**| |---|---|---| |**Type of adviser**
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**Address**||| |**n/a**||| |||| |||| |||| ## **Name of chief executive or names of senior staff members (Optional information)** ## **Section B Structure, governance and management** ## **Description of the charity’s trusts** Type of governing document Articles of Association & Memorandum - (eg. trust deed, constitution) Limited Company How the charity is constituted (eg. trust, association, company) Elected company directors Trustee selection methods - (eg. trust, association, company) - (eg. appointed by, elected by) ## **Additional governance issues (Optional information)** You **may choose** to include additional information, where relevant, about: - policies and procedures adopted for the induction and training of trustees; - the charity’s organisational structure and any wider network with which the charity works; The company/charity works within the following processes/policies; Finance Policy Child Protection Policy Health & Safety & Environmental Policy Membership Rules Social Responsibility Policy GDPR Privacy & Comms Policy Refunds Policy Job Descriptions Organisation Chart - relationship with any related parties; - Trustees’ consideration of major risks and the system and procedures to manage them. ## **Section C Objectives and activities** To educate the public in the dramatic, musical and operatic arts, and to further the development of public appreciation and taste in the said arts and in furtherance of this object to: - **Summary of the objects of the** 1. Promote plays, drama, comedies, operas, operettas and **charity set out in its** other dramatic and operatic works of educative value **governing document** 2. Purchase, acquire and obtain interests in the copyright of or the right to perform or show any such dramatic or operatic works. **TAR** **April 2009** 2 The Charity has not been able to do any shows during lock-down as theatres have had to shut-down, they have managed to provide small theatre classes and continue fund-raising. The Trustees declare that the objects of the society have been met with regard to public benefit .and have followed the guidance issued by the Charity Commission on public benefit. **Summary of the main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit)** ## **Additional details of objectives and activities (Optional information)** All productions and the running of the Charity and their premises have been undertaken in full by volunteers. You **may choose** to include further statements, where relevant, about: - policy on grant making; - policy programme related investment; - Contribution made by volunteers. **TAR** **April 2009** 3 Section D Achievements and performance Produced the following One Pantomime Two Musicals One Play Two workshops All running for a minimum of one week. Friday night youth acting club and Saturday morning young children theatre school classes with reduced numbers due to covid **TAR** **April 2009** 4 Section D Achievements and erformance p The Charity has been able to raise funds from fund-raising but hopes to **Summary of the main** re-cover in the next financial year after COVID **achievements of the charity during the year** **TAR** **April 2009** 5 ## **Section E Financial review** The Charity has no policy on reserves at this moment in time. **Brief statement of the** **charity’s policy on reserves** **Details of any funds materially in deficit** ## **Further financial review details (Optional information)** Funds come from membership subscriptions and fund-raising. You **may choose** to include additional information, where Expenditure has been for the running of the charity and theatre building relevant about: • the charity’s principal sources of funds (including any fundraising); - how expenditure has supported the key objectives of the charity; - Investment policy and objectives including any ethical investment policy adopted. ## **Section F other optional information** Funds had to be spent this year on building repairs and improvements to the building for health and safety only and in order to put on our shows which raise money ## **Section G Declaration** **The trustees declare that they have approved the trustees’ report above.** **Signed on behalf of the charity’s trustees** **Signature(s)** Sarah Smith **Full name(s)** Sarah Smith **Position (eg Secretary, Chair,** Company Secretary **etc) Date** 15/01/2023 **TAR** **April 2009** 6 Charbty Re8iStratsn Ma. 112(n41 rh).¢J59X)I72 IEDtsnd andwalesl THE NEWMARKEf OPERATIC, MUSICAL AND DRAMATIC SOCIETY LTD ANNUAL REPORT AND UNAUDrrED FTNANaAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 THE NEWMARK￿ OPERATIC, MUSICAL AND DRAMATIC soaETY LTD LEGAL ANDADMINISTRATIVE INFORMATION T￿￿teeS Mrs S Smith Ms A CcK)k Mr C Bri8Frty Mr O phil￿}tt Mrj Hadley Mr A Thorpe Mrj Maguire Company Se(retary Mrs S Smith Charlty Number Company 14umber $980172 Registered Office The KingsTheatre. 16 Fitrroy Street. Newmarket Suffolk CB80JW Independent Examlner Frd￿e5 Hammond FCCA Freshfields St Mary's Road Creeting St. Mary Ipswich Suffolk IPG8LZ THE NEWMARKET OPERATIC. MUSICAL AND DRAMATrC soaETY LTD coNTEP￿s Trustees. Report Independent Examinerfs Report Statement of Financial Artivities ststernent of Financial Position Note5 to the Financial Statements &ii THE NEWMARK￿ OPERATIC, MUSICAL AND DRAMATIC soaEfY LTD TRusfEES' REPORT {INCLUDING DIREcfoRS' REPORn FOR THE YEAR EfiDED31 MARCH2022 TheTrustees P￿se￿tthelT ￿pOrt andfinancial staternerrts forthe year ended 31 March 2022. The accounts have been prepa￿d in accordarfe withihe accountin8 policies set out in note I to the accounts and comply with the Charities Act 2011. the CompaniesAct 2006 and thestatement of Recommended Practice.'Accountin8 and Reporting by Charities". issued in March 2(KJ5. Objectives and Activities Objectives The Companyobjectives areto educatethe public and tts member5 in the dramatlc. rnU5ical and operatic arts. and to further the development of public appreciation taste in the said art5 and furtherdnce of this object to.. Prornote plays. drama, comedies, operas, operettas and other dramaticand operatic work5 of educative value and purchase. acquire and obtain interesrs in thecopyright of orthe ri8htto perfom orshow any such dramatic or operatic work. The Trustees have paid due regard to 8wdance issued bythe Charity Commission in deading what actimties the compaThy should undertake. Artivities The Artivities ol the company in¥olve prod￿1￿£ and perftKmiThgourown product￿￿5 forthe public and providing workshops and clubs for children as well as stsffingthe building on a voluntary basis for oulside groups to hire the theatre fortheir productions or use the theatre buildingasa Venue for edUc3t￿n or uaining purposes within these Arts, thu5 providin8 a community theatre. Achithments and Performan Athievements In view of the pandemic andthe sutwuent lock4ovm. which hitthe Arts part￿ularlY hard. the Company has had a soft re-opening of the theatre arnd not been ableto complete a5 many of its usual activiti£s in this budget year. this is reflecred in this financial period. Performance The company perfomiance has decreased due to the impatt of the pandemic Fun&raisin8 hascontinued. membership subscriptions have decreased and COVIDGrant sthemes have helped the Company signrfi(antly. Flnanclal Rthlew The Cornpany Treasurer Lt5ually holds regular meetin85 wth all the relevant members reswnsible for areas within the Company and report5 back to the 8oard with financial repJrt5 With rewews on expenditurelsales and budgets, however thls has not alvrdys been possible duringthe pandemi4 although the Board met regularlyvia video callsto review various aspe￿$ includin8ihe Companyfinancials. Planslorthe Future The Company's plan $5 to survive given the current rising c05t. especially in ￿lIrties. its alm is to keep membership umbers atthe same levds to prfrlockdown and continue to build awarer￿sS ITh the local area of the theat￿ and keep audience mernLEr5 at a level to sustsin its PrOd￿tIOns. A long-term airn 15 to investigate providing the venuefor professional touring companies to educate the public more in the Arts. This ￿11 also involve rnarketin8the builijing a5 a communrty theatre more. Regularfund-raisSn8 is on80in& applying and obtaining wants with 3 wiewto beingableto afford to pay for some administrative supwrt will be looked at. THE NEWMARK￿ OPERATIC, MUSICAL AND D￿TIc SOCIETY LTD TRUSTEES, REPORT IINCLUD114G DIREcfoRS' REPORn CONTINUED FOR THE YEAR ENDED31 MARCH2022 Structure, Go¥ernance and Management Governin2 Document Newmarket Operatic. Musical and Dramatic Society Limited is a nO￿prOfIt making company limited byguarantee and was formed asa limited company and became a tharity in 2C#)6 bythe mernbersand trustees. Thegoverning documents of the charity are the company's me[T￿rand￿rn and Article5 of A5￿)ciation. The Trustees. who arealso the directorsfor the purposes of company law, and w￿) seryed duringthe Yearwe￿.. Mrs S Smith Ms A Cook Mr C 8righty Mr D PhilFK)tt Mr J Hadlev Mr K LaPorte Mrj Maguire Go¥eman¢e (Resigned 14 February 20221 Newmarket Operdtic. Musical and Dramatic&xiety Ltd 15 govemed by an independent Board of Management. all of whom are r)irectors and Trustees. The board meets quartedyand nomally has 7 members. All rnembers have a variety of professional backgrounds relevant to the governan￿ of the organisation. The 8oartl a￿ all volunteers. Re¢rultment and Appolntment of the Bowd of Tr￿tee$ Trustees are r￿ruIted fromthe rnembeF5hip application and chosen tythe Board in accordancewith the procedures Set out in the Articles of A550ciation. New Tru5tee5 are provided with all relevant information and guidance notesfrom the Charities Commission on their roles and iesponsibilities of Trustees. Training is carried out inforrnally Llurin8 the course of undertaki￿their￿utles and ath.ce and reports are issued 35 and when required. The Trustees Report was approved bythe Board of Trustees. Mrs S Smith Company Secretsry Dated.. 1311016 THE NEWMARK￿ OPERATIC, MUSICAL AND DRAMATIC soaEfY LTD INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE NEWMAR1￿ OPERATIC, MUSICALAND DIIAMATIC SOCIEfY LTD I report to theTrustees on rny examination of the financial Statements of The Newmarket Operatic. Musical and Dramatic 5(&iety Ltd (the companyl for the year enijed 31 March 2022. Responslbllltles and Basls of Report As theTrustees of the company land also its OireLtor5 forthe purFM)5es of company lawl you are responsiblefor the preparation of the financial statett*r￿ in accorda￿eWith the requirements of the companies kt 21X)G (the 2006Actl. Having satisfied mysdf that the financial statements of the company are not required to be audited under Part 16 of the 2006 Act and are eligiblefor independent examination. I report in respett of my examination of the company'5 financ¢al Statements carried out under section 145 of the Charities 2011 (the 2011 Act). In carrying out my examination I have followed all applicable Directions given by the Charity Commission under sertion 14515llbl of the 2011 Act. Independent Examlnerfs Ststement I have completed my examination. I tonfim that no matters have come to myattention in connection with the examlnation 8ivln8 me cause to believe th* in ary material re5pecl'. accounting record5 were not kept in r£spectof the companyas reqUI￿d by sertion 386 of the 2006 Act: or the fina￿(101 5taterDevts do not accord wth those records.. or Ihe financial statements do rK)t comply with the accounting requirements of section 396of the 2006 Act other than any requirement that the accounts give a trne and fair vie*vknich is Th)t a matterconsidered as part of an independertexamination.. or Ihe financial statements have not been prepared in acmrdance wth the methods and principles of the Statement of Recommended Prattice for accountin8 and reporting by charities applicable to charities preparingtheir accounts in accordance with the Finanaal RepJrtin8 Stsndard applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns and have Come acr055 no other matters in connectioTh wtth theexamination to which attention should be drawn in this report in order to enable a proper understandin8 of thefinarKial statements to be ￿aChed. Frances Hammond FCCA Dated.. THE NEWMARKET OPERATIC, MUSICAL AND DRAMATIC soaETY LTD STATEMENT OF FINANCIALAcnviTIES INCLUDING INCOME AND ExPEN0￿URE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2022 2022 2021 Notes Income and endowments from: Voluntary income 52.966 18.624 Inve5trnent income Other incornin8 ￿soUrceS 11,866 42.020 Total income arKI endo￿nents 64,834 60,646 Resouros expended: Costs of generating funds Costs of generating voluntsry income 64.235 25.5 Charitable activities Other re50urce5 expended fjovernance costs 1.317 12,823 13 17.718 Total charitable ejtpenthtwe 14,140 17,731 Total re5tyJrces expende 78.375 43,231 Net Intomellexpendlturel forthe￿or/ Net movement in funds 113.5411 17.415 Fund balances at l April 2021 226.210 208,795 Fund balances at 31 March 2022 212,669 226,210 The statement of financial aCti￿leS indtmles all 8ains and1055e5 reco8nised in theyear. All income ar¥J expenditure derivefrom continuingzctiwties. The statement of financial actiwiies alsocomplie5 With the requirements for an irKome and expenditure account under the Companies Att 21K)6. THE NEWMARKET OPERATIC, MUSICAL AND DRAMATIC SOaEfY LTD STATEMEKf OF FINANCIAL posmoN AS A T31 MARCH2022 2022 2021 Tangible assÈts Current assets Stocks Debtor5 Cash at bankand tn hand 10 184,409 188, li i.ioi 555 29,164 30,820 2.￿J5 3,022 37.982 43,009 C¥edftors- amounts lalllng due wlthin one year 2,5 4,989 Net current a55ets 28.260 38.020 Total assets less current Ilabllilits 212.669 226.210 Income lunds Unrestrirted funds-8eneral 212,669 212,669 226,210 226,210 The compary is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, forthe year ended 31 Marth 2022. I ne LJirector5 acKnowieoge tneir re5pon51Dllltie5 ror ensunng tnat tne cnanty keeps accounting ￿or0$ wnKn compty wych secrion 386 of the Act and for preparing finarKial statements which givea true and Fair wew of the state of affairs of the company as at the end of the financial year and of tts incorning resour￿5 and application of resources. including its income and expenditure, lor the finanoal year in accordarKe wth the requirernents of sections 294 and 395 and which otherwise comply with the ￿QU1￿ments of the Companies kt 2LMJ6 relating to finanaal ststements. so far as applicable to the companv. The members have not required the company toobtain an auditof itsffiJwncvdl statements forthe year in question in small companies regime. The financial statement5 were approved bythe Truste25 on.. 13ji¢l Mr5 S Smbth Trustee Mr D Phllwrtt Cornpany Reg15tr3tion No. 05980172 THE NEWMARKEf OPERATIC, MUSICAL AND DRAMATIC soaEtY LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE Y£4R ENDED 31 MARCH 2022 A¢¢ountln£ Poll¢le$ Charity Infomiatlon The Newmarket Operatic. Musical and Dramatic Society Ltd is a private company limlted by 8uarantee incorporated in England and Wales. The registered office is The KingsTheatre, 16 Fittroy5treet, Newmark￿, Suffolk. C88 OJW. Ac(0untingcon￿ntI0n The financial statements have been prepared in accordante wtth the Companie5 Act 2006 and Accounting and Reporting by Charities.. Statement of Recommended Prattice applicable to charities preparin8 their account5 in accordance wtth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FR5 1021 (effective l January20191". The companyis a publ￿ Berth Entity as defined by FR5 102. Thefinanu31 statements are prepared in 5terlin& which isthe funttional cur￿nry of the cornpanv. Monetary amounts in the5efinancial statements are rounded to the r￿areSt £. The financial statemems have been prepa￿￿ underthe historical cost convention, M¢￿iTied to include the rev31u3tion of freehold woperties and to include investment propertie5 and certain finanaal instrLsments at fairvalue. The principal accounting policies adopted a￿ set out below. Chorltsb1efv￿l5 Unrestricted fund5 areawdilable for use at the discretion of theTrustees Èn furtherance of their charitable objecEive5. Incoffling re5wrces Incorne is recognised when the company is legal￿ entitled to it after any performance conditiofis have been met. the arnount5 can be measured reliabty. and it is probable that i￿)r￿Will be retrived. Cash donations are recogni5ed on ￿elpt- Otherdonations are recognised once the company has been notified of the donation, unless performance condition5 require ijeferral of the amount. Income tax recoverable in relation ro donations receNed under Gtft or deeds of covenant 15 recognised at the time of donation. IA ReSou￿e5 expended All expenditure is accounted for on an accruals basis and is ￿0￿nIsed when there is a legal or constructive obligation to pay. Expenditure has been cla&srfied under headingsihat aggregate all c05t5 related to the tate80ry. Governance costs includetlK)se costs a5500ated7*rith meeting the constitutional and statutory requirements of the chartty,. this includesthe preparation of this annual report and financial statements, and costs linked to the straregic mana8ementof the charrty. THE NEWMARKET OPERATIC, MUSICAL AND DRAMATIC SOCIEfY LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Accounting pdldes ItontinL*dl Tangible fixed assets Tangible fixed assets are inttialty measured at cox and subsequently measured at C05t or wdluaison, net of depreciation and any irnpairmerrt losses. Tangible fixed a55ets are stated at cost less depreciation. Depreciation is provided al rates calculated to write off the e05t lessesrimated residual value of each 355et over its expetted useful life. as follow5-. Land and buildings Plant and machinery 2% srraight line 20% Reduung BatarKe The 8aln or loss arising on the disFKty5al of an asset is deterniined as the difference between the sale proceeds and the carryingyalue of the asset, and is recognised Én net incomellexpenditurel forthe year. lmpa1rn￿nt offixed a55ets At each reporvng end date. the cornpaTry re￿ewS the carryingamounts of its tan8ible assets lo determine whether there is any indication that those assets have suffered an impairmeTht105s. If any such indication exists. the recoverable amunt of ihe asset is estimated in orderto detemiineihe extent of the impaiment loss lif any). Sto(k5 Stocks are stated at the lower of cost and estimated sellin8 price less coststo complete arnd sell. Cost compfi5e5 direct materials and. where applicable. direct labourcosts and those overheads that have been incurred in bfinwngthe stfKks to their present location and condiih)n. Items held for distribution at w or norninal consideration are measured the lower of feplacement cost and cost. Cash and rash eguivalerrts Cash and cash equivalerrts include cash in hand. deposits hdd3t call wtth banks, other short-term liquid investment5 Wlth original maturities of three month5 or less. and bankoverdrafts. Bankoverdrafts are shown within borrowings in current liabilitie5. Flnancial in#rnments The company has elerted to applythe provisions of ￿lOn 11 'Basic Financial I￿ruMents, and Section 12 'Other Financial Instruments Is5ue5' of FRS 102 to all of its financial instruments. Financial instruments are reo8nised ID tIE company's balance sheet when the company becomes partyto the contraciual provisions of the instrument. Financial assets and liabilitie5 are offsèt, with the net amounts pre5errted in the finarKial statements, when there 15 a le8alty enforceable right to set off the re£ogni5ed amounts and there Is an intention to settleon that ba515 or to realise the asset and settle the liability 5imuhaneously. THE NEWMARKET OPERATIC, MUSICAL AND DRAMATIC soaEfY LTD NOTES TO THE FINANCIAL sfATEMEpifs ICOPMNUEDI FOR THE YEAR ENDED 31 MARCH2022 Critical accourtlng estlmated abYlli*ments In the application of the companvs accounting polictes, theTrustees are required to make jud8ements. estimates and assumptions about the carrying amount of assets and liabilitiesthat are not readily apparent from othersources. The estimates and assock4ted assurnptions are based on historical experience and other tsctorsihat are conSide￿d to be relevant. Aclu31 results may differfrnm these estimates. The e￿imate$ and undedying assumptions are rewewed OTr an ongoing basis. Revisions to accounting estimates are ￿C0s￿l$ed in the period in which the e5tirnate is revised where the revision affects only that period., or in the period of the rewsiov and future periods where the rew5ion affects Ihjth current and future periods. vo1ur￿ry income 2021 Ticket sales Bar sales 100 Club Hire of Theatre Subscriptions Kin85 Kid5 Wor*shops & summersd)ools 23,373 5,356 930 300 3,500 6.455 2,520 310 1,651 2,262 400 75 Donations 10.532 52,966 13.926 18,624 2Q22 2021 Investment income Un￿trIcted fund5- 8eneral Z02Z 2021 Other irKom1￿ resow(es Miscellaneovs Grants 449 11,417 11,866 32,112 9,908 42,020 THE NEWMARKET OPERATIC, MUSICAL AND DRAMATIC SOQETY LTD NOTES TO THE FINANCIAL STATEMEiirs IcoNriNUED) FOR THE YEAR ENDED 31 MARCH 2022 Costs of generztingvoluntary Income 2022 2021 Front of house purchases l(K> club pri2es Ticket and programmecosts Bar purchases Advertising Light, heat. water & refuse Wardrobe & make-up Sets, props. lightin& sound ete Royatties. scripts, music, show lice￿ erc Venue hire Musicians. fees Crew, directors, prodLKers & Ca￿ costs Teachindcoaching aothin8 Costs Training costs Health & Safety costs Insurance Mileage and tran5POrt costs Telephone & internet Printin& stationery. computer & photocopiert05ts licen￿ & subscriptions Repairs & renewals Cleaning Choreography and performancefee5 1.637 113 2.527 3,836 10,$80 1,731 2,587 593 234 4.950 3,248 5.471 307 1,194 3,030 2.767 37 144 2.926 7,432 53 298 13451 3,832 114 720 3.S46 529 9,976 2.075 1,270 64,235 757 7,455 1,388 65 25,500 Chartts￿e •tthitie5 Other Resour¢es Go¥ernahKe 2022 2022 Total 2022 Total 2021 Professional fees Accountancy fee5 Bookkeepingfee5 Rent Trophies and awards Bankcharges & interest Depreciation Loss on disposal of tangible fixed assets Miscellaneoijs 61 438 61 438 1,384 1,248 5,180 1,650 1.248 1,103 9.720 117 1,103 9.720 117 1.270 9,618 13 17.731 1.317 12,823 14,140 Anafysi5 by fund Unrestricted fund5-general 1.317 12.823 14,140 THE NEWMARKET OPERATIC, MUSICAL AND DRAMATIC soaETY LTD NOTES TO THE FINANCIAL ￿ATEmE1￿[S {CONTINUED) FOR THE YEAR ENDE031 MARCH2022 Trustees. transartkn Please see below remunerfion and paid tothe tru51ees in the year.. Mrs S Smith was paid £250 for bookkeeping 5eNces12021.. Nill. £325 for teaching and coaching services 12021.. Nill, £250 for directlll85hov￿I2o2l.. Nil) and £1.536vrdS paid to ￿rafv & Cat Cleaning a business in which Mrs S Smith is a partnerl2021.. £8321. Mrj Hadley wa5 paid £188for deaning services12021.' Nill. Mr A Thorpe was paid £525 forteach1￿ 3nd coaching12021.. Nil) and £500 for directing shows12021.. Nill. MrJ Maguire was paid £500 for direttingshows12021- Nil). Pika Creative Ltd. a company in which Mr K LaPorte is a director, was paid £777for wtterand flyw desi8n% Artistry Cocoa, in which Mr C Brighty is a partner. Wd5 paid £632 forthe supply of icecream$12021'. Nill. Duringthe year. £2.279 was reimbursed to 3 Trustees forgoods tlw purLthased on behalf of the charity. Employee5 There were no empknyees durin8ihe year. Land and building5 Pl•nt and machlnery Total io Tangible fimed assets At l April 2021 Additions Di5posa15 At 31 March 2022 209.507 99.184 6,055 17001 104,539 308,691 6,OSS I7(￿) 314.046 209.507 Depreclation and Impoimert At l April 2021 Depreciation charged in theyear Depreciation on di5P05al At 31 March 2022 43.028 4.190 77,473 5.529 15831 82.419 120501 9,719 583 129,637 47.218 Carrylng amount At 31 M8rch 2022 At 31 Marth 2021 162.289 166.479 22,120 21,711 184,409 188.190 2022 2021 li Stocks Raw materials and con5umable5 I,ioi 2,005 io THE NEWMARK￿ OPERATIC, MUSICAL AND DRAMATIC soaETY LTD NOTES TO THE HNANCIAL STATEMENTS ICOPfflP4UED) FOR THE YEAR ENDED 31 MARCH2022 2022 2021 12 DebtOW5 Amounts falling due wlthlm one year. Trade debtor5 PrepaymeNs and accrued incorne 631 2,391 3.022 S55 555 2022 2021 Creditors Arnounts falli￿ duewilhin oneyear. Trade creditors Accruals and deferred income 374 2,186 2.560 3,339 1.650 4,989 Unyestrfrted fund5 2021 14 Analysis of net assets beh¥een fvrnts Fund t)alanees at 31 Ma¥ch 2022 are represented by: Tangible assets Current assets/lliabilitiesl 184.409 28,260 212.669 188.190 38.020 226,210 2022 2011 15 Cash generated fr(*n operation5 Surpluslldeficitl for the Thew year Adjustments for.. Asset additk)ns Depreciation and Ios5 on disposal Investment income recognised in statement of financial activities Movements in workingoptsl.. Decrease in stocks Decreaselltncreasel in debtors (Decreaseifincrease in creditors Cash generated frijmllaiwljed by) operations 113.S411 17,415 16,0561 9,837 9.618 236 10,631 16,3331 31,565 2.467 12,4291 18.8201 Cash frimi irwestmerrt a¢livllles 14et In¢reèselldttrtasel in fash arml cash eqthmlents 18.8181 31,567 16 Analysi5 of thanges in net fijnds The company had no debt during the year. li Charbty Re8iStratsn Ma. 112(n41 rh).¢J59X)I72 IEDtsnd andwalesl THE NEWMARKEf OPERATIC, MUSICAL AND DRAMATIC SOCIETY LTD ANNUAL REPORT AND UNAUDrrED FTNANaAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 THE NEWMARK￿ OPERATIC, MUSICAL AND DRAMATIC soaETY LTD LEGAL ANDADMINISTRATIVE INFORMATION T￿￿teeS Mrs S Smith Ms A CcK)k Mr C Bri8Frty Mr O phil￿}tt Mrj Hadley Mr A Thorpe Mrj Maguire Company Se(retary Mrs S Smith Charlty Number Company 14umber $980172 Registered Office The KingsTheatre. 16 Fitrroy Street. Newmarket Suffolk CB80JW Independent Examlner Frd￿e5 Hammond FCCA Freshfields St Mary's Road Creeting St. Mary Ipswich Suffolk IPG8LZ THE NEWMARKET OPERATIC. MUSICAL AND DRAMATrC soaETY LTD coNTEP￿s Trustees. Report Independent Examinerfs Report Statement of Financial Artivities ststernent of Financial Position Note5 to the Financial Statements &ii THE NEWMARK￿ OPERATIC, MUSICAL AND DRAMATIC soaEfY LTD TRusfEES' REPORT {INCLUDING DIREcfoRS' REPORn FOR THE YEAR EfiDED31 MARCH2022 TheTrustees P￿se￿tthelT ￿pOrt andfinancial staternerrts forthe year ended 31 March 2022. The accounts have been prepa￿d in accordarfe withihe accountin8 policies set out in note I to the accounts and comply with the Charities Act 2011. the CompaniesAct 2006 and thestatement of Recommended Practice.'Accountin8 and Reporting by Charities". issued in March 2(KJ5. Objectives and Activities Objectives The Companyobjectives areto educatethe public and tts member5 in the dramatlc. rnU5ical and operatic arts. and to further the development of public appreciation taste in the said art5 and furtherdnce of this object to.. Prornote plays. drama, comedies, operas, operettas and other dramaticand operatic work5 of educative value and purchase. acquire and obtain interesrs in thecopyright of orthe ri8htto perfom orshow any such dramatic or operatic work. The Trustees have paid due regard to 8wdance issued bythe Charity Commission in deading what actimties the compaThy should undertake. Artivities The Artivities ol the company in¥olve prod￿1￿£ and perftKmiThgourown product￿￿5 forthe public and providing workshops and clubs for children as well as stsffingthe building on a voluntary basis for oulside groups to hire the theatre fortheir productions or use the theatre buildingasa Venue for edUc3t￿n or uaining purposes within these Arts, thu5 providin8 a community theatre. Achithments and Performan Athievements In view of the pandemic andthe sutwuent lock4ovm. which hitthe Arts part￿ularlY hard. the Company has had a soft re-opening of the theatre arnd not been ableto complete a5 many of its usual activiti£s in this budget year. this is reflecred in this financial period. Performance The company perfomiance has decreased due to the impatt of the pandemic Fun&raisin8 hascontinued. membership subscriptions have decreased and COVIDGrant sthemes have helped the Company signrfi(antly. Flnanclal Rthlew The Cornpany Treasurer Lt5ually holds regular meetin85 wth all the relevant members reswnsible for areas within the Company and report5 back to the 8oard with financial repJrt5 With rewews on expenditurelsales and budgets, however thls has not alvrdys been possible duringthe pandemi4 although the Board met regularlyvia video callsto review various aspe￿$ includin8ihe Companyfinancials. Planslorthe Future The Company's plan $5 to survive given the current rising c05t. especially in ￿lIrties. its alm is to keep membership umbers atthe same levds to prfrlockdown and continue to build awarer￿sS ITh the local area of the theat￿ and keep audience mernLEr5 at a level to sustsin its PrOd￿tIOns. A long-term airn 15 to investigate providing the venuefor professional touring companies to educate the public more in the Arts. This ￿11 also involve rnarketin8the builijing a5 a communrty theatre more. Regularfund-raisSn8 is on80in& applying and obtaining wants with 3 wiewto beingableto afford to pay for some administrative supwrt will be looked at. THE NEWMARK￿ OPERATIC, MUSICAL AND D￿TIc SOCIETY LTD TRUSTEES, REPORT IINCLUD114G DIREcfoRS' REPORn CONTINUED FOR THE YEAR ENDED31 MARCH2022 Structure, Go¥ernance and Management Governin2 Document Newmarket Operatic. Musical and Dramatic Society Limited is a nO￿prOfIt making company limited byguarantee and was formed asa limited company and became a tharity in 2C#)6 bythe mernbersand trustees. Thegoverning documents of the charity are the company's me[T￿rand￿rn and Article5 of A5￿)ciation. The Trustees. who arealso the directorsfor the purposes of company law, and w￿) seryed duringthe Yearwe￿.. Mrs S Smith Ms A Cook Mr C 8righty Mr D PhilFK)tt Mr J Hadlev Mr K LaPorte Mrj Maguire Go¥eman¢e (Resigned 14 February 20221 Newmarket Operdtic. Musical and Dramatic&xiety Ltd 15 govemed by an independent Board of Management. all of whom are r)irectors and Trustees. The board meets quartedyand nomally has 7 members. All rnembers have a variety of professional backgrounds relevant to the governan￿ of the organisation. The 8oartl a￿ all volunteers. Re¢rultment and Appolntment of the Bowd of Tr￿tee$ Trustees are r￿ruIted fromthe rnembeF5hip application and chosen tythe Board in accordancewith the procedures Set out in the Articles of A550ciation. New Tru5tee5 are provided with all relevant information and guidance notesfrom the Charities Commission on their roles and iesponsibilities of Trustees. Training is carried out inforrnally Llurin8 the course of undertaki￿their￿utles and ath.ce and reports are issued 35 and when required. The Trustees Report was approved bythe Board of Trustees. Mrs S Smith Company Secretsry Dated.. 1311016 THE NEWMARK￿ OPERATIC, MUSICAL AND DRAMATIC soaEfY LTD INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE NEWMAR1￿ OPERATIC, MUSICALAND DIIAMATIC SOCIEfY LTD I report to theTrustees on rny examination of the financial Statements of The Newmarket Operatic. Musical and Dramatic 5(&iety Ltd (the companyl for the year enijed 31 March 2022. Responslbllltles and Basls of Report As theTrustees of the company land also its OireLtor5 forthe purFM)5es of company lawl you are responsiblefor the preparation of the financial statett*r￿ in accorda￿eWith the requirements of the companies kt 21X)G (the 2006Actl. Having satisfied mysdf that the financial statements of the company are not required to be audited under Part 16 of the 2006 Act and are eligiblefor independent examination. I report in respett of my examination of the company'5 financ¢al Statements carried out under section 145 of the Charities 2011 (the 2011 Act). In carrying out my examination I have followed all applicable Directions given by the Charity Commission under sertion 14515llbl of the 2011 Act. Independent Examlnerfs Ststement I have completed my examination. I tonfim that no matters have come to myattention in connection with the examlnation 8ivln8 me cause to believe th* in ary material re5pecl'. accounting record5 were not kept in r£spectof the companyas reqUI￿d by sertion 386 of the 2006 Act: or the fina￿(101 5taterDevts do not accord wth those records.. or Ihe financial statements do rK)t comply with the accounting requirements of section 396of the 2006 Act other than any requirement that the accounts give a trne and fair vie*vknich is Th)t a matterconsidered as part of an independertexamination.. or Ihe financial statements have not been prepared in acmrdance wth the methods and principles of the Statement of Recommended Prattice for accountin8 and reporting by charities applicable to charities preparingtheir accounts in accordance with the Finanaal RepJrtin8 Stsndard applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns and have Come acr055 no other matters in connectioTh wtth theexamination to which attention should be drawn in this report in order to enable a proper understandin8 of thefinarKial statements to be ￿aChed. Frances Hammond FCCA Dated.. THE NEWMARKET OPERATIC, MUSICAL AND DRAMATIC soaETY LTD STATEMENT OF FINANCIALAcnviTIES INCLUDING INCOME AND ExPEN0￿URE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2022 2022 2021 Notes Income and endowments from: Voluntary income 52.966 18.624 Inve5trnent income Other incornin8 ￿soUrceS 11,866 42.020 Total income arKI endo￿nents 64,834 60,646 Resouros expended: Costs of generating funds Costs of generating voluntsry income 64.235 25.5 Charitable activities Other re50urce5 expended fjovernance costs 1.317 12,823 13 17.718 Total charitable ejtpenthtwe 14,140 17,731 Total re5tyJrces expende 78.375 43,231 Net Intomellexpendlturel forthe￿or/ Net movement in funds 113.5411 17.415 Fund balances at l April 2021 226.210 208,795 Fund balances at 31 March 2022 212,669 226,210 The statement of financial aCti￿leS indtmles all 8ains and1055e5 reco8nised in theyear. All income ar¥J expenditure derivefrom continuingzctiwties. The statement of financial actiwiies alsocomplie5 With the requirements for an irKome and expenditure account under the Companies Att 21K)6. THE NEWMARKET OPERATIC, MUSICAL AND DRAMATIC SOaEfY LTD STATEMEKf OF FINANCIAL posmoN AS A T31 MARCH2022 2022 2021 Tangible assÈts Current assets Stocks Debtor5 Cash at bankand tn hand 10 184,409 188, li i.ioi 555 29,164 30,820 2.￿J5 3,022 37.982 43,009 C¥edftors- amounts lalllng due wlthin one year 2,5 4,989 Net current a55ets 28.260 38.020 Total assets less current Ilabllilits 212.669 226.210 Income lunds Unrestrirted funds-8eneral 212,669 212,669 226,210 226,210 The compary is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, forthe year ended 31 Marth 2022. I ne LJirector5 acKnowieoge tneir re5pon51Dllltie5 ror ensunng tnat tne cnanty keeps accounting ￿or0$ wnKn compty wych secrion 386 of the Act and for preparing finarKial statements which givea true and Fair wew of the state of affairs of the company as at the end of the financial year and of tts incorning resour￿5 and application of resources. including its income and expenditure, lor the finanoal year in accordarKe wth the requirernents of sections 294 and 395 and which otherwise comply with the ￿QU1￿ments of the Companies kt 2LMJ6 relating to finanaal ststements. so far as applicable to the companv. The members have not required the company toobtain an auditof itsffiJwncvdl statements forthe year in question in small companies regime. The financial statement5 were approved bythe Truste25 on.. 13ji¢l Mr5 S Smbth Trustee Mr D Phllwrtt Cornpany Reg15tr3tion No. 05980172 THE NEWMARKEf OPERATIC, MUSICAL AND DRAMATIC soaEtY LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE Y£4R ENDED 31 MARCH 2022 A¢¢ountln£ Poll¢le$ Charity Infomiatlon The Newmarket Operatic. Musical and Dramatic Society Ltd is a private company limlted by 8uarantee incorporated in England and Wales. The registered office is The KingsTheatre, 16 Fittroy5treet, Newmark￿, Suffolk. C88 OJW. Ac(0untingcon￿ntI0n The financial statements have been prepared in accordante wtth the Companie5 Act 2006 and Accounting and Reporting by Charities.. Statement of Recommended Prattice applicable to charities preparin8 their account5 in accordance wtth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FR5 1021 (effective l January20191". The companyis a publ￿ Berth Entity as defined by FR5 102. Thefinanu31 statements are prepared in 5terlin& which isthe funttional cur￿nry of the cornpanv. Monetary amounts in the5efinancial statements are rounded to the r￿areSt £. The financial statemems have been prepa￿￿ underthe historical cost convention, M¢￿iTied to include the rev31u3tion of freehold woperties and to include investment propertie5 and certain finanaal instrLsments at fairvalue. The principal accounting policies adopted a￿ set out below. Chorltsb1efv￿l5 Unrestricted fund5 areawdilable for use at the discretion of theTrustees Èn furtherance of their charitable objecEive5. Incoffling re5wrces Incorne is recognised when the company is legal￿ entitled to it after any performance conditiofis have been met. the arnount5 can be measured reliabty. and it is probable that i￿)r￿Will be retrived. Cash donations are recogni5ed on ￿elpt- Otherdonations are recognised once the company has been notified of the donation, unless performance condition5 require ijeferral of the amount. Income tax recoverable in relation ro donations receNed under Gtft or deeds of covenant 15 recognised at the time of donation. IA ReSou￿e5 expended All expenditure is accounted for on an accruals basis and is ￿0￿nIsed when there is a legal or constructive obligation to pay. Expenditure has been cla&srfied under headingsihat aggregate all c05t5 related to the tate80ry. Governance costs includetlK)se costs a5500ated7*rith meeting the constitutional and statutory requirements of the chartty,. this includesthe preparation of this annual report and financial statements, and costs linked to the straregic mana8ementof the charrty. THE NEWMARKET OPERATIC, MUSICAL AND DRAMATIC SOCIEfY LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Accounting pdldes ItontinL*dl Tangible fixed assets Tangible fixed assets are inttialty measured at cox and subsequently measured at C05t or wdluaison, net of depreciation and any irnpairmerrt losses. Tangible fixed a55ets are stated at cost less depreciation. Depreciation is provided al rates calculated to write off the e05t lessesrimated residual value of each 355et over its expetted useful life. as follow5-. Land and buildings Plant and machinery 2% srraight line 20% Reduung BatarKe The 8aln or loss arising on the disFKty5al of an asset is deterniined as the difference between the sale proceeds and the carryingyalue of the asset, and is recognised Én net incomellexpenditurel forthe year. lmpa1rn￿nt offixed a55ets At each reporvng end date. the cornpaTry re￿ewS the carryingamounts of its tan8ible assets lo determine whether there is any indication that those assets have suffered an impairmeTht105s. If any such indication exists. the recoverable amunt of ihe asset is estimated in orderto detemiineihe extent of the impaiment loss lif any). Sto(k5 Stocks are stated at the lower of cost and estimated sellin8 price less coststo complete arnd sell. Cost compfi5e5 direct materials and. where applicable. direct labourcosts and those overheads that have been incurred in bfinwngthe stfKks to their present location and condiih)n. Items held for distribution at w or norninal consideration are measured the lower of feplacement cost and cost. Cash and rash eguivalerrts Cash and cash equivalerrts include cash in hand. deposits hdd3t call wtth banks, other short-term liquid investment5 Wlth original maturities of three month5 or less. and bankoverdrafts. Bankoverdrafts are shown within borrowings in current liabilitie5. Flnancial in#rnments The company has elerted to applythe provisions of ￿lOn 11 'Basic Financial I￿ruMents, and Section 12 'Other Financial Instruments Is5ue5' of FRS 102 to all of its financial instruments. Financial instruments are reo8nised ID tIE company's balance sheet when the company becomes partyto the contraciual provisions of the instrument. Financial assets and liabilitie5 are offsèt, with the net amounts pre5errted in the finarKial statements, when there 15 a le8alty enforceable right to set off the re£ogni5ed amounts and there Is an intention to settleon that ba515 or to realise the asset and settle the liability 5imuhaneously. THE NEWMARKET OPERATIC, MUSICAL AND DRAMATIC soaEfY LTD NOTES TO THE FINANCIAL sfATEMEpifs ICOPMNUEDI FOR THE YEAR ENDED 31 MARCH2022 Critical accourtlng estlmated abYlli*ments In the application of the companvs accounting polictes, theTrustees are required to make jud8ements. estimates and assumptions about the carrying amount of assets and liabilitiesthat are not readily apparent from othersources. The estimates and assock4ted assurnptions are based on historical experience and other tsctorsihat are conSide￿d to be relevant. Aclu31 results may differfrnm these estimates. The e￿imate$ and undedying assumptions are rewewed OTr an ongoing basis. Revisions to accounting estimates are ￿C0s￿l$ed in the period in which the e5tirnate is revised where the revision affects only that period., or in the period of the rewsiov and future periods where the rew5ion affects Ihjth current and future periods. vo1ur￿ry income 2021 Ticket sales Bar sales 100 Club Hire of Theatre Subscriptions Kin85 Kid5 Wor*shops & summersd)ools 23,373 5,356 930 300 3,500 6.455 2,520 310 1,651 2,262 400 75 Donations 10.532 52,966 13.926 18,624 2Q22 2021 Investment income Un￿trIcted fund5- 8eneral Z02Z 2021 Other irKom1￿ resow(es Miscellaneovs Grants 449 11,417 11,866 32,112 9,908 42,020 THE NEWMARKET OPERATIC, MUSICAL AND DRAMATIC SOQETY LTD NOTES TO THE FINANCIAL STATEMEiirs IcoNriNUED) FOR THE YEAR ENDED 31 MARCH 2022 Costs of generztingvoluntary Income 2022 2021 Front of house purchases l(K> club pri2es Ticket and programmecosts Bar purchases Advertising Light, heat. water & refuse Wardrobe & make-up Sets, props. lightin& sound ete Royatties. scripts, music, show lice￿ erc Venue hire Musicians. fees Crew, directors, prodLKers & Ca￿ costs Teachindcoaching aothin8 Costs Training costs Health & Safety costs Insurance Mileage and tran5POrt costs Telephone & internet Printin& stationery. computer & photocopiert05ts licen￿ & subscriptions Repairs & renewals Cleaning Choreography and performancefee5 1.637 113 2.527 3,836 10,$80 1,731 2,587 593 234 4.950 3,248 5.471 307 1,194 3,030 2.767 37 144 2.926 7,432 53 298 13451 3,832 114 720 3.S46 529 9,976 2.075 1,270 64,235 757 7,455 1,388 65 25,500 Chartts￿e •tthitie5 Other Resour¢es Go¥ernahKe 2022 2022 Total 2022 Total 2021 Professional fees Accountancy fee5 Bookkeepingfee5 Rent Trophies and awards Bankcharges & interest Depreciation Loss on disposal of tangible fixed assets Miscellaneoijs 61 438 61 438 1,384 1,248 5,180 1,650 1.248 1,103 9.720 117 1,103 9.720 117 1.270 9,618 13 17.731 1.317 12,823 14,140 Anafysi5 by fund Unrestricted fund5-general 1.317 12.823 14,140 THE NEWMARKET OPERATIC, MUSICAL AND DRAMATIC soaETY LTD NOTES TO THE FINANCIAL ￿ATEmE1￿[S {CONTINUED) FOR THE YEAR ENDE031 MARCH2022 Trustees. transartkn Please see below remunerfion and paid tothe tru51ees in the year.. Mrs S Smith was paid £250 for bookkeeping 5eNces12021.. Nill. £325 for teaching and coaching services 12021.. Nill, £250 for directlll85hov￿I2o2l.. Nil) and £1.536vrdS paid to ￿rafv & Cat Cleaning a business in which Mrs S Smith is a partnerl2021.. £8321. Mrj Hadley wa5 paid £188for deaning services12021.' Nill. Mr A Thorpe was paid £525 forteach1￿ 3nd coaching12021.. Nil) and £500 for directing shows12021.. Nill. MrJ Maguire was paid £500 for direttingshows12021- Nil). Pika Creative Ltd. a company in which Mr K LaPorte is a director, was paid £777for wtterand flyw desi8n% Artistry Cocoa, in which Mr C Brighty is a partner. Wd5 paid £632 forthe supply of icecream$12021'. Nill. Duringthe year. £2.279 was reimbursed to 3 Trustees forgoods tlw purLthased on behalf of the charity. Employee5 There were no empknyees durin8ihe year. Land and building5 Pl•nt and machlnery Total io Tangible fimed assets At l April 2021 Additions Di5posa15 At 31 March 2022 209.507 99.184 6,055 17001 104,539 308,691 6,OSS I7(￿) 314.046 209.507 Depreclation and Impoimert At l April 2021 Depreciation charged in theyear Depreciation on di5P05al At 31 March 2022 43.028 4.190 77,473 5.529 15831 82.419 120501 9,719 583 129,637 47.218 Carrylng amount At 31 M8rch 2022 At 31 Marth 2021 162.289 166.479 22,120 21,711 184,409 188.190 2022 2021 li Stocks Raw materials and con5umable5 I,ioi 2,005 io THE NEWMARK￿ OPERATIC, MUSICAL AND DRAMATIC soaETY LTD NOTES TO THE HNANCIAL STATEMENTS ICOPfflP4UED) FOR THE YEAR ENDED 31 MARCH2022 2022 2021 12 DebtOW5 Amounts falling due wlthlm one year. Trade debtor5 PrepaymeNs and accrued incorne 631 2,391 3.022 S55 555 2022 2021 Creditors Arnounts falli￿ duewilhin oneyear. Trade creditors Accruals and deferred income 374 2,186 2.560 3,339 1.650 4,989 Unyestrfrted fund5 2021 14 Analysis of net assets beh¥een fvrnts Fund t)alanees at 31 Ma¥ch 2022 are represented by: Tangible assets Current assets/lliabilitiesl 184.409 28,260 212.669 188.190 38.020 226,210 2022 2011 15 Cash generated fr(*n operation5 Surpluslldeficitl for the Thew year Adjustments for.. Asset additk)ns Depreciation and Ios5 on disposal Investment income recognised in statement of financial activities Movements in workingoptsl.. Decrease in stocks Decreaselltncreasel in debtors (Decreaseifincrease in creditors Cash generated frijmllaiwljed by) operations 113.S411 17,415 16,0561 9,837 9.618 236 10,631 16,3331 31,565 2.467 12,4291 18.8201 Cash frimi irwestmerrt a¢livllles 14et In¢reèselldttrtasel in fash arml cash eqthmlents 18.8181 31,567 16 Analysi5 of thanges in net fijnds The company had no debt during the year. li