2021-03-31-accounts - Team Collective Cymru Charity

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	Page
Report ofthe Trustees	1 to 19
Report ofthe Independent Auditors	20to 22
Consolidated Statement ofFinancial Activities	23
Consolidated and Charity Balance Sheets	24
Cash Flow Statement	25
Notes to the Cash Flow Statement	26
Notes to the Financial Statements	27to45

REFERENCE AND	REFERENCE AND	REFERENCE AND	ADMINISTRATIVE	ADMINISTRATIVE	ADMINISTRATIVE	ADMINISTRATIVE	DETAILS
Registered	Company			number
06693227 (England			and Wales)
Registered	Charity		number
1127952
Registered	office
30Castle Arcade
CARDIFF
CF101BW
Trustees
Chair							Clive William Jones
Trustees							Bethan Cousins	Resigned	11 March 2021
							Simon Keith Pirotte
							Roger Michael Awan-Scully	Resigned	23September	2021
							Bedwyr Elias Williams
							Sian Elin Doyle
							Keith Power
							Raidene Carter
							Wayne Boucher
							Anna Arrieta	Appointed	11March 2021
							Steffan Donnelly	Appointed	11 March 2021
Executive team
Chief Executive/Artistic				Director			Lorne Campbell
Executive Producer/Deputy					CEO		Lisa Maguire
Senior Statutory		Auditor
Julia Mortimer
Auditors
Watts Gregory LLP
Chartered Accountants				8 Statutory		Auditors
Elfed House
Oak Tree Court
Cardiff Gate	Business Park
CARDIFF
County ofCardiff
CF238RS
Solicitors
Hugh James
Hodge House
114-116St.	Mary	Street
CARDIFF
CF101DY
Bank
HSBC
56 Queen Street
CARDIFF
CF102PX

							2021	2020
					Unrestricted	Restricted	Total funds	Total funds
					funds	funds
				Notes		F
INCOME AND ENDOWMENTS		FROM
Donations and legacies				3	1,712,437	50	1,712,487	1,613,106
Charitable activities				5
Promoting, maintaining,	improving		and advancing
education					52,999	279,642	332,641	681,816
Investment income					259		259	1,312
Other income								10,140
Total					1,765,695	279,692	2,045,387	2,306,374
EXPENDITURE ON
Raising funds				8	771		771	19,955
Charitable activities				9
Promoting, maintaining,	improving		and advancing
education					1,372,26?	305,382	1,677,649	2,604,530
Total					1,373,038	305,382	1,678,420	2,624,485
NET INCOME/(EXPENDITURE)					392,657	(25,690)	366,967	(318,111)
Transfers between funds					~24,289)	24,289
Net movement in funds					368,368	(1,401)	366,967	(318,111)
RECONCILIATION OF FUNDS
Total funds brought forward					437,936	11?,672	555,608	873,719
TOTAL FUNDS CARRIED FORWARD					806,304	116,271	922,575	555,608

					Group		Charity
				2021	2020	2021	2020
FIXEDASSETS			Notes			E
Tangible assets Investm en@			17 18	8,880	14,044	8,880 1	14,044 1
				8,880	14,044	8,881	14,045
CURRENT ASSETS
Debtors: amounts Cash at bank	falling due within one year		19	198,991 1 053,591	399,373 392,304	198,991 1,053,591	399,373 392,304
				1,252,582	791,677	1,252,582	791,677
CREDITORS
Amounts falling due within one year			20	(338,887)	(249,445)	(338,888)	(249,446)
NET CURRENT ASSETS/(LIABILITIES)				913,695	542,232	913,694	542,231
TOTAL ASSETS LESSCURRENT LIABILITIES				922,575	556,276	922,575	556,276
PROVISION FOR	LIABILITIES		22		(668)		(668)
NET ASSETS				922,575	555,608	922575	555,608
FUNDS			23
Unrestricted funds:
(Including designated		funds)		806,304	437,936	806,304	437,936
Restricted funds				116,271	117,672	116,271	117,672
NET ASSETS				922,575	555,6D6	922,575	555,6D8

				2021	2020
			Notes
Cash flows from operating activities:
Cash generated from operations				662,377	~507.5D1)
Net cash provided by (used in) operating activities				662,377	~507,501)
Cash flows from investing activities:
Purchase oftangible fixed assets Sale oftangible fixed assets Interest received				(1,349) 259	(16,428) 14,189 1,312
Net cash provided by (used in) investing activities				~1,090)	~927)
Change in cash and cash equivalents	in the
reporting period Cash and cash equivalents at the beginning the reporting period		of		661,287 392,304	(508,428) 900,732
Cash and cash equivalents atthe end	ofthe
reporting period				1,053,591	392,304

RECONCILIATION OF NET IN ACTIYITIES	COME/(E	XPENDITURE) TO NET CASH	FLOW FROM	OPERATING
			2021	2020
			F	F
Net income/(expenditure) for the offinancial activities) Adjustments for:	reporting	period (as per the statement	366,967	(318,111)
Depreciation charges Profit on disposal offixed assets Interest received Theatre tax relief claim —movement Decrease/(increase) in debtors (Decrease)/increase in creditors	in debtor		6,513 (259) 52,707 147,675 88,774	7,326 (10,140) (1,312) 32,065 (210,058) ~271)
Net cash provided by (used in) operating		activities	662,377	~507.501)
ANALYSIS OF CHANGES IN NET FUNDS
		At 1/4/20	Cash flow	At 31/3/21
		F
Net cash
Cash at bank and in hand		392,304	661,287	1,053,591
Total		392,304	661,287	1,053,591

Grants received, included in the above, are as
	2021	2020
Paul Hamlyn Foundation Esmee Fairbaim Foundation Battersea Arts Centre - The Agency Andrew Lloyd Webber Foundation Theatre Granit - Creative Europe British Council - repurposing ofincome Egin Arts Council Wales - Organisational Structure Review Arts Council Wales - For All I Care Edinburgh National Trust - Egin Goethe Institute Mackintosh Foundation Snowdonia National Park Authority - Egin Ashley Family Foundation Came Trust British Council - Cotton Fingers Edinburgh Natural Resources Wales - Egin Tipping Point - Egin The Bluestone Foundation Pembrokeshire Association ofVoluntary Services People's Palace Projects	99,795 49,520 6,000 12,870 2,500 1,000 8,000	100,206 93,984 63,333 6,000 4,629 4,792 6,064 15,000 5,000 4,477 3,000 4,000 5,600 3,000 5,000 4,950 2,500
	179.555	331.535

							Grant
							funding of
						Direct	activities	Support
						Costs (see	(see note	costs (see
						note 9)	10)	note 11) f	Totals f
	Promoting,	maintaining,	improving		and
	advancing	education				1,289,336	13,500	374,813	1,677,649
10.	DIRECT COSTS OF CHARITABLE ACTIVITIES
								2021	2020
	Staff costs							748,488	896,302
	Creative and artistic activities							470,429	965,512
	Marketing costs							62,355	178,194
	Recruitment	costs						8,064	28,375
								1,289,336	2,068,383
11.	SUPPORT	COSTS
								Governance
					Staff costs f	Other costs	Depreciation f	costs	Totals f
	Promoting,	maintaining,
	improving and advancing
	education				185,306	126,178	6,513	56,816	374,813
12.	NET INCOME/(EXPENDITURE)
	Net income/(expenditure)		is stated		after charging/(crediting):
								2021f	2020f
	Auditors' remuneration							5,902	4,716
	Auditors' remuneration		for non-audit		work			1,350	1,419
	Depreciation	-owned assets						6,513	7,326
	Surplus on	disposal of	fixed assets						~10,140)
13.	GRANTS PAYABLE
								2021f	2020
	Promoting,	maintaining,	improving	and advancing		education		13,500
	The total grants paid to		individuals		during the year	was as follows:
								2021	2020
	General							13,500

											2021		2020	2020
											F.
Pete Rogers														400
Wayne Boucher											2,319
											2,319			400
Trustees are permitted clause 5(5)(a)(ii) ofthe		to receive Memorandum		compensation for professional ofAssociation.			services		rendered		to the charity		by virtue		o
STAFF COSTS
									2021f				2020 F
Employee costs during the year
Wages and salaries									827,582				1,031,116
Employer's National Pension costs	Insurance		contributions							71,202 35,010			70,909 39,902
									933,794				1,141,927
									2021				2020
Number ofpersons	employed
Permanent staff														25
Temporary production		staff												7
											23			32
The number of employees whose emoluments, 660,000 during the year were as follows:					as defined	for taxation		purposes,		amounted		to a	rate of	over
									2021				2020
F60,001 - F70,000											1			2
f70,001 - F80,000
F80,001 -690,000											1

					Unrestricted	Restricted	Total funds
					funds	funds
					F	E
INCOME AND ENDOWMENTS		FROM
Donations and legacies Charitable activities					1,613,106		1,613,106
Promoting, maintaining,	improving		and advancing	education	350,031	331,785	681,816
Investment income					1,312		1,312
Other income					10,140		10,140
Total					1,974,589	331,785	2,306,374
EXPENDITURE ON
Raising funds Charitable activities					19,955		19,955
Promoting, maintaining,	improving		and advancing	education	2,272,477	332,053	2,604,530
Total					2,292,432	332,053	2,624,485
NET INCOME/(EXPENDITURE)					(317,843)	(268)	(318,111)
Transfers between funds					~5,701)	5,701
Net movement in funds					(323,544)	5,433	(318,111)
RECONCILIATION OF FUNDS
Total funds brought forward					761,480	112,239	873,719
TOTAL FUNDS CARRIED FORWARD					437,936	117,672	555,608

		Fixtures
		and	Computer
		fittings f	equipment	Totals f
COST
At 1 April 2020		33,110	53,372	86,482
Additions			1,349	1,349
At 31 March 2021		33,110	54,721	87,831
DEPRECIATION
At 1 April 2020		31,372	41,066	72,438
Charge for year		735	5,778	6,513
At 31 March 2021		32,107	46,844	78,951
NET BOOK VALUE
At 31 March 2021		1,003	7,877	8,880
At 31 March 2020		1,738	12,306	14,044
FIXEDASSET INVESTMENTS -Charity
				Shares in
				group
				undertakingsf
MARKET VALUE
At 1 April 2020 and 31 March 2021
NET BOOK VALUE
At 31 March 2021
At 31 March 2020
There were no investment	assets outside the UK.

			Group	Group	Charity	Charity
			2021	2020	2021	2020
			F
Trade debtors Other debtors Accrued income Theatre tax relief recoverable			930 10,107 46,802	190,914 3,745 48,614 91,937	930 10,107	190,914 3,745 48,614
VAT recoverable Prepayments Amounts owed by group	undertakings		141,152	5,442 58,721	141,152 46,802	5,442 58,721 91,937
			198,991	399,373	198,991	399,373
CREDITORS: AMOUNTS		FALLING DUE WITHIN ONE YEAR
			Group	Group	Charity	Charity
			2021	2020	2021	2020
				F
Trade creditors Social security and other VAT Other creditors Accruals Deferred income	taxes		61,027 16,991 19,560 5,579 57,235 178,495	154,752 21,676 5,821 33,346 33,850	61,027 16,991 19,560 5,580 57,235 178,495	154,752 21,676 5,822 33,346 33,850
			338,887	249,445	338,888	249,446
Induded within deferred	income above is the following:
					2021	2020
					Z	F
Paul Hamiyn Foundation Battersea Arts Council - Festival 2022	The Agency				75,342 92,153	33,850
Natural Resources Wales					3,000
British Council —Go Digital					8,000
					178,495	33,850

Minimum	lease payments
		2021	2020
Within one year		18,466	39,328
Between	one and five years	14,384	32,612
		32,850	71,940

2021	2020
	E
	668

								Net	Transfers
								movement	between	At
							At 1/4/20 f	in funds f	funds f	31/3/21 f
Unrestricted		funds
General fund							345,110	446,561	(539,770)	251,901
Designated		fund	- Fixed assets				14,044	(6,513)	1,349	8,880
Designated		fund	- TEAM				4,100			4,100
Designated		fund	- Marketing				6,150	(6,150)	40,683	40,683
Designated		fund	- Core resilience				7,947		5,000	12,947
Designated		fund	- Creative	Development			58,127	(41,241)	45,309	62,195
Designated		fund	- Office Improvements				2,458			2,458
Designated		fund	- Productions						316,822	316,822
Designated		fund	- Organisational			review
changes									35,000	35,000
Designated		fund	- HR support						5,746	5,746
Designated		fund	- CEO support						2,750	2,750
Designated		fund	- Creative	Development
posts									6,822	6,822
Designated		fund	- Creative	Development
projects									6,000	6,000
Designated		fund	- Springboard		bursaries				50,000	50,000
							437,936	392,657	(24,289)	806,304
Restricted	funds
Paul Hamlyn		Foundation					31,209	25,264		56,473
Esmhe Fairbaim			Foundation				50,163	(38,841)		11,322
Arts Council		Wales - Ocean		Park		Creative
Collaboration							1,064			1,064
National Companies Consultancy						Project	22,663	(2,800)		19,863
Battersea	Arts Centre - The			Agency			6,257	3,617		9,874
Big Lottery	Fund		- Access Forum				2,330			2,330
Mametz real-time			digital lesson		plans		2,781	(425)		2,356
EU Creative		Europe					305	(24,594)	24,289
Andrew Lloyd Webber Foundation-
Emerging	Directors						900	5,100		6,000
People's Palace Projects (Far Apart UK)								6,880		6,880
Bluestone	Foundation/Little			Green		Grant		109		109
							117,672	25,690	24,289	116,271
TOTAL FUNDS							555,608	366,967		922,575

			Incoming	Resources	Movement
			resources	expended	in funds
				F
Unrestricted funds
General fund			1,765,695	(1,319,134)	446,561
Designated fund - Fixed assets				(6,513)	(6,513)
Designated fund - Marketing Designated fund - Creative	Development			(6,150) ~41,241)	(6,150) ~41.241)
			1,765,695	(1,373,038)	392,657
Restricted funds
Paul Hamlyn Foundation			99,794	(74,530)	25,264
Esmee Fairbaim Foundation				(38,841)	(38,841)
National Companies Consultancy		Project		(2,800)	(2,800)
Battersea Arts Centre - The	Agency		49,570	(45,953)	3,617
Mametz real-time digital lesson plans				(425)	(425)
EU Creative Europe			12,871	(37,465)	(24,594)
Andrew Lloyd Webber Foundation-
Emerging Directors			6,000	(900)	5,100
People's Palace Projects (Far Apart UK)			8,000	(1,120)	6,880
Bluestone Foundation/Little Festival 2022	Green	Grant	3,500 99,957	(3,391) ~99.957)	109
			279,692	~305,382	~25,690)
TOTAL FUNDS			2,045,387	~1.678.420)	366,987

Comparative	s f	or movemen	t in	funds
						Net movement	Transfers
					At 1/4/1 9	in funds	between funds	At 31/3/20
					F	F	F
Unrestricted	funds
General fund					335,313	70,587	(60,790)	345,110
Designated	fund	- Fixed assets			8,991	(7,326)	12,379	14,044
Designated	fund	- TEAM			6,100		(2,000)	4,100
Designated	fund	- Marketing			5,500	(5,500)	6,150	6,150
Designated	fund	- Production	and	creative
development					289,864	(289,864)
Designated	fund	- Core resilience			15,782	(7,835)		7,947
Designated	Fund	- Casting			8,581	(8,581)
Designated	Fund	- Creative	Development		42,019	(23,789)	39,897	58,127
Designated	Fund	- Office Improvements			4,030	(1,572)		2,458
Designated	fund	- Strategic	planning		8,800	(8,800)
Designated	fund	- Audience	development		16,500	(15,163)	(1,337)
Designated	fund	- Artistic Director		recruitment	20,000	~20.000)
					761,480	(317,843)	(5,701)	437,936
Restricted funds
Paul Hamlyn	Foundation				20,024	9,035	2,150	31,209
Esmhe Fairbaim		Foundation			38,059	12,104		50,163
Jerwood Charitable Foundation					10,582	(10,582)
Arts Council	Wales - Ocean		Park	Creative
Collaboration					1,064			1,064
National Companies Consultancy				Project	29,518	(6,855)		22,663
Arts Council	Wales - Resilience Programme				1,174	(1,174)
Battersea Arts Centre - The Agency						6,257		6,257
Big Lottery Fund		- Access Forum			6,512	(4,182)		2,330
Mametz real-time		digital lesson plans			5,071	(2,290)		2,781
EU Creative	Europe				235	(3,481)	3,551	305
Andrew Lloyd Webber Foundation				- Emerging
Directors						900		900
					112,239	(268)	5,701	117,672
TOTAL FUNDS					873,719	~318,111)		555,608

A summary o	fthe	res	ults ofthe	subsidiary is shown below:
					2021	2020
					f.	F
Turnover Cost ofsales					340,342 (387,144)	558,524 (650,461)
Gross profit Administrative	expenses				(46,802)	(91,937)
Loss on ordinary Theatre tax relief		activities before taxation claim			(46,802) 46 602	(91,937) 91937
Profit for the	financial		year
The aggregate	of	the	assets, liabilities and funds was:
					2021	2020
Assets Liabilities					46,803 (46,802)	91,938 (91,937)
Funds (representing			1 ordinary	share ofF1)