2023-03-31-accounts - New Adventures Charity

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

			Page
Chair's Introduction			1-2
Trustees' report			3-23
Reference and administrative		details	24
Independent auditors'	report	on the financial statements	25-28
Consolidated statement	offinancial activities		29
Consolidated balance sheet			30
Charity balance sheet			31
Consolidated statement	ofcash flows		32
Notes to the financial statements			33 - 53

2022-23 Total Digital
Broadcasts	643,000
Online Activity/Product	259,171
Online Streaming	111,818
Cinema Screening	17970
Total	941,863
During 2022-23, our work reached over 6countries.

		Unrestricted	Restricted	Designated	Total	Total
		funds	funds	funds	funds	funds
		2023	2023	2023	2023	2022
	Note		6			6
Income from:
Donations		1,360,279	79,300		1,439,579	1,475,012
Charitable activities		222,818			222,818	219,255
Trading activities		5,891,808			5,891,808	4,996,497
Investments		11,518			11,518	3,274
Other income		653,912			653,912	403,480
Total income and
endowments		8,140,335	79,300		8,219,635	7,097,518
Expenditure on:
Raising funds:	9
Voluntary income		145,817			145,817	86,023
Trading activities		6,205,450			6,205,450	5,991,264
Charitable activities:	10
Other charitable
activities		1,723,307	83,658		1,806,965	1,369,831
Total expenditure		8,074,574	83,658		8,158,232	7,447,118
Net
income/(expenditure)		65,761	(4,358)		61,403	(349,600)
Transfers between
funds	18	339,418	48,582	(388,000)
Net movement in
funds		405,179	44,224	(388,000)	61,403	(349,600)
Reconciliation of
funds:
Total funds brought
forward		245,213	28,750	3,385,000	3,658,963	4,008,563
Net movement in funds		405,179	44,224	(388,000)	61,403	(349,600)
Total funds carried
forward		650,392	72,974	2,997,000	3,720,366	3,658,963

		Note		2023f		2022 E
Fixed assets
Tangible assets		14		7,111		3,913
Current assets
Debtors		16	2,050,237		1,346,937
Cash at bank and in hand			4,746,360		4,891,467
			6,796,597		6,238,404
Creditors: amounts	falling due within one
year		17	(3,083,342)		(2,583,354)
Net current assets				3,713,255		3,655,050
Total net assets				3,720,366		3,658,963
Charity funds
Designated funds		18		2,997,000		3,385,000
Restricted funds		18		72,974		28,750
Unrestricted funds		18		650,392		245,213
Total funds				3,720,366		3,658,963

		CHARITY BALANCE SHEET	CHARITY BALANCE SHEET
		AS AT 31	MARCH 2023
				2023		2022
		Note		5		8
Fixed assets
Tangible assets		14		7,111		3,913
Investments		15		7		6
				7,118		3,919
Current assets
Debtors		16	577,153		502,007
Cash at bank			3,510,033		3,506,035
			4,087,186		4,008,042
Creditors: amounts	falling due within one
year		17	(373,945)		(350,005)
Net current assets				3,713,241		3,658,037
Total net assets				3,720,359		3,661,956
Charity funds
Designated funds		18		3,525,373		3,385,000
Restricted funds		18		72,974		28,750
Unrestricted funds		18		122,012		248,206
Total funds				3,720,359		3,661,956

				2023	2022
				6	6
Cash flows from operating	activities
Net cash used in operating	activities			(138,682)	624,218
Cash flows from investing	activities
Purchase oftangible fixed assets				(6,425)	(2,687)
Net cash used in investing	activities			(6,425)	(2,687)
Change in cash and cash	equivalents	in	the year	(145,107)	621,531
Cash and cash equivalents	at the beginning		ofthe year	4,891,467	4,269,936
Cash and cash equivalents	at the end of		the year	4,746,360	4,891,467
The notes on pages 33Io53form part ofthese financial statements

		Unrestricted	Restricted	Total
		funds	funds	funds
		2023	2023	2023
		6	6	8
Other	donations	42,469	79,300	121,769
Grants	from The Arts Council	1,317,810		1,317,810
		1,360,279	79,300	1,439,579
		Unrestricted	Restriicted	Total
		funds	funds	funds
		2022	2022	2022
		8		8
Other	donations	79,637	77,565	157,202
Grants	from The Arts Council	1,317,810		1,317,810
		1,397,447	77,565	1,475,012

				Unrestricted	Total
				funds	funds
				2023	2023
				6	6
	Project income			222,818	222,818
	Other income
				222,818	222,818
			Unrestricted	Restricted	Total
			funds	funds	funds
			2022	2022	2022
			6	6	6
	Project income		209,427		209,427
	Other income			9,828	9,828
			209,427	9,828	219,255
6.	Income from trading	activities
				Unrestricted	Total
				funds	funds
				2023	2023
				6	6
	Show venue fees - UK			5,863,183	5,863,183
	Show other income			11,590	11,590
	Storage fee income			17,035	17,035
				5,891,808	5,891,808

			Unrestricted	Total
			funds	funds
			2022	2022
			6	6
	Show venue	fees - UK	4,952,492	4,952,492
	Show other	income	18,338	18,338
	Storage fee	income	25,667	25,667
			4,996,497	4,996,497
7.	Investment	income

		Unrestricted	Total
		funds	funds
		2023	2023
		F
Interest	receivable	11,518	11,518
		Unrestricted	Total
		funds	funds
		2022	2022
		5	F
Interest	receivable	3,274	3,274

			Unrestricted	Total
			funds	funds
			2023	2023
			6
Theatre	tax	credits	653,912	653,912
			Unrestricted	Total
			funds	funds
			2022	2022
			E	6
Theatre	tax	credits	403,480	403,480

		Unrestricted	Total
		funds	funds
		2023	2023
		F	E
Consultancy	fees and other direct costs	91,821	91,821
Staffcosts		53,996	53,996
Total 2023		145,817	145,817
		Unrestricted	Total
		funds	funds
		2022	2022
		E	E
Consultancy	fees and other direct costs	43,259	43,259
Staff costs		42,764	42,764
Total 2022		86,023	86,023

			Unrestricted	Total
			funds	funds
			2023	2023f
Show producer		fees	1,216,775	1,216,775
Show production		costs	1,010,411	1,010,411
Show llJnnlng	costs		2,477,754	2,477,754
Staffcosts			1,500,510	1,500,510
Total 2023			6,205,450	6,205,450
			Unrestricted	Total
			funds	funds
			2022f	2022
Show producer		fees	23,365	23,365
Show production		costs	1,819,932	1,819,932
Show running	costs		2,575,035	2,575,035
Staff costs			1,572,932	1,572,932
Total 2022			5,991,264	5,991,264

				Support	Total
			Direct costs	costs	funds
			2023f	2023	2023f
Various	charitable	activities	1,402,243	404,722	1,806,965

Expenditure	on charitable	on charitable	activities (continued)
					Support	Total
				Direct costs	costs	funds
				2022	2022	2022
				E		6
Various charitable		activities		922,161	447,670	1,369,831
Analysis ofdirect		costs
					Total	Total
					funds	funds
					2023	2022
						F
Wages and	salaries				516,900	473,364
Offstage activity costs					556,739	200,994
Storage Set	up					9,828
Merchandise	costs				1,901	1,918
Advertising	and marketing				36,339	71,394
Storage costs					111,550	117,284
Other staff costs					171,688	46,779
Green adventures					7,126	600
					1,402,243	922,161
Analysis ofsupport costs
					Total	Total
					funds	funds
					2023	2022
					F	6
Wages and	salaries				202,028	195,863
Other staff costs					62,457	56,396
General office costs					79,247	165,377
Depreciation					3,227	2,976
Rent					47,600	12,201
Governance	costs	- Accountancy	and audit costs		10,163	14,857
					404,722	447,670

		2023	2022
		6	6
Auditor's	remuneration	7,000	7,000

	Group	Group	Charity	Charity
	2023	2022	2023	2022
			6	E
Wages and salaries	2,122,299	2,131,634	676,909	627,084
Social security costs	120,536	106,231	74,397	64,499
Pension costs	30,599	47,058	21,618	20,408
	2,273,434	2,284,923	772,924	711,991

	Group	Group
	2023	2022
	No.	No.
Employees	43	48

Group	Group
2023	2022
No.	No.

14.	Tangible fixed assets
	Group and Charity
		Office
		equipment
		E
	Cost
	At 1 April 2022	24,021
	Additions	6,425
	At 31 March 2023	30,446
	Depreciation
	At 1 April 2022	20,108
	Charge for the year	3,227
	At 31 March 2023	23,335
	Net book value
	At 31 March 2023	7,111
	At 31 March 2022	3,913

The following we C N	re subsidiary undertaki	ngs	ofthe charity:
ompany ame					Holding	Included		in
						consolidation
New Adventures New Adventures New Adventures New Adventures New Adventures New Adventures New Adventures	Red Shoes Limited Midnight Bell Limited Swan Lake Limited Nutcracker Limited Sleeping Beauty Limited Partnerships Limited Verona Limited				100% 1QQ'/ 100% 100% 100% 1QQ'/ 100o/	Yes Yes Yes Yes Yes Yes Yes
The financial results ofthe subsidiaries		for	the year were:
			Income	Expenditure	Profit/(Loss)		Net	assets
				6	forthe year			F
New Adventures New Adventures New Adventures New Adventures New Adventures Limited	Red Shoes Limited Midnight Bell Limited Swan Lake Limited Nutcracker Limited Sleeping Beauty		8,031 1,680 4,787 640,786 5,625,653	(8,031) (1,680) (4,787) (640,786) (5,625,653)
New Adventures	Partnerships Limited		168,154	(165,154)	3,000

Debtors
		Group 2023 6	Group 2022 6	Charity 2023f	Charity 2022 6
Due within one year
Trade debtors		1,131,908	602,649	69,808	21,577
Amounts owed by group undertakings				454,081	392,197
Other debtors		788,418	461,711	19,519	21,223
Prepayments and accrued income		129,911	282,577	33,745	67,010
		2,050,237	1,346,937	577,153	502,007
Creditors: Amounts	falling due within one year
		Group 2023f	Group 2022	Charity 2023f	Charity 2022
Trade creditors		203,482	154,894	52,338	24,671
Amounts owed to group undertakings				2,502	75,047
Corporation tax		6,404
Other taxation and social security		588,563	368,066	22,817	18,194
Other creditors		86,849	810,885	12,618	41,718
Accruals and deferred	income	2,198,044	1,249,509	283,670	190,375
		3,083,342	2,583,354	373,945	350,005

			Balance at 1			Transfers	Balance at 31 March
			April 2022 F	Income 6	Expenditure	in/out f	2023 6
Unrestricted funds
General Funds			245,213	8,140,335	(8,074,574)	339,418	650,392
Designated funds
Deferred Production		and
Artistic Fund			1,750,000			(1,500,000)	250,000
Capital Fund Reserve			500,000				500,000
Core Costs Reserve			475,000			(475,000)
Digital Reserve R8J Legacy Reserve			350,000 60,000			(150,000) (33,000)	200,000 27,000
Post Pandemic Reserve			200,000				200,000
Offstage Projects	Reserve		50,000			120,000	170,000
Edward Scissorhands
Production						800,000	800,000
Future Mid/large	Scale
Production						850,000	850,000
			3,385,000			(388,000)	2,997,000
Restricted funds
Magic Me			28,750	2,500	(31,250)
Cygnet School				60,800	(36,408)	48,582	72,974
Emerging Artists				16,000	(16,000)
			28,750	79,300	(83,658)	48,582	72,974
Total offunds			3,658,963	8,219,635	(8,158,232)		3,720,366

Statement offunds	- prior ye	ar
						Balance at
		Balance at			Transfers	31 March
		1 April 2021 6	Income	Expenditure	in/out f	2022 6
Unrestricted funds
General Funds		103,678	7,010,125	(6,918,590)	50,000	245,213
Designated funds
Deferred Production Artistic Fund	and	1,950,000			(200,000)	1,750,000
Organisational Development Reserve		30,000			(30,000)
Capital Fund Reserve		500,000				500,000
Core Costs Reserve		475,000				475,000
Digital Reserve		300,000			50,000	350,000
RS3 Legacy Reserve		60,000				60,000
Post Pandemic Reserve		50,000			150,000	200,000
Offstage Projects Reserve		70,000			(20,000)	50,000
		3,435,000			(50,000)	3,385,000
Restricted funds
Storage fund			9,828	(9,828)
Magic Me		8,750	20,000			28,750
Cygnet School		60,000	20,000	(80,000)
Emerging Artists		6,135		(6,135)
Nutcracker Reserve		395,000		(395,000)
Relaxed performance			21,565	(21,565)
Emerging Artists			16,000	(16,000)
		469,885	87,393	(528,528)		28,750

Summary Summary	offunds offunds -curr	ent year
						Balance at
		Balance at 1			Transfers	31 March
		April 2022 F	Income F	Expenditure	in/out 8	2023 6
Generalfunds		245,213	8,140,335	(8,074,574)	339,418	650,392
Designated	funds	3,385,000			(388,000)	2,997,000
Restricted	funds	28,750	79,300	(83,658)	48,582	72,974
		3,658,963	8,219,635	(8,158,232)		3,720,366

Summary	offunds - prio	r year
						Balance at
		Balance at			Transfers	31 March
		1 April 2021	Income 5	Expenditure 5	in/out	2022 6
General funds		103,678	7,010,125	(6,918,590)	50,000	245,213
Designated	funds	3,435,000			(50,000)	3,385,000
Restricted	funds	469,885	87,393	(528,528)		28,750
		4,008,563	7,097,518	(7,447,118)		3,658,963

Analysis	ofn	et assets between fund	s -current year
			Unrestricted	Restricted	Designated	Total
			funds	funds	funds	funds
			2023	2023 6	2023f	2023 F
Tangible Current Creditors	fixed assets due	assets within one year	7,111 3,726,623 (3,083,342)	72,974	2,997,000	7,111 6,796,597 (3,083,342)
Total			650,392	72,974	2,997,000	3,720,366

Analysis	ofnet assets between fund	s -prior year
		Unrestricted	Restricted	Designated	Total
		funds	funds	funds	funds
		2022 6	2022 F	2022 6	2022 6
Tangible Current Creditors	fixed assets assets due within one year	3,913 2,824,654 (2,583,354)	28,750	3,385,000	3,913 6,238,404 (2,583,354)
Total		245,213	28,750	3,385,000	3,658,963

21.	Reconciliation of net	Reconciliation of net	movement	movement	movement	in funds to net	in funds to net	in funds to net	cash flow	from operating	activities
											Group	Group
											2023	2022
											6	E
	Net income/expenditure Activities)			for	the	year	(as	per	Statement	of Financial	61,403	(349,600)
	Adjustments for:
	Depreciation charges											2,976
	Loss on the sale offixed assets											653
	(Increase)/decrease	in	production			costs						291,304
	(Increase)/decrease	in	debtors								(703,300)	(1,072,096)
	Increase/(decrease)	in	creditors								499,988	1,750,981
	Net cash provided by/(used				in)	operating		activities			(138,682)	624,218
22.	Analysis ofcash and		cash equivalents
											Group	Group
											2023 6	2022 f
	Cash in hand										4,746,360	4,891,467
	Total cash and cash		equivalents								4,746,360	4,891,467
23.	Analysis ofchanges		in	net debt
										At 1 April		At 31 March
										2022	Cash flows	2023
											6	6
	Cash at bank and in	hand								4,891,467	(145,107)	4,746,360
										4,891,467	(145,107)	4,746,360