2023-03-31-accounts - Team Collective Cymru Charity

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	Page
Report ofthe Trustees	1 to 30
Report ofthe Independent Auditors	31 to 33
Consolidated Statement of Financial Activities	34
Consolidated and Charity Balance Sheets	35
Cash Flow Statement	36
Notes to the Cash Flow Statement	37
Notes to the Financial Statements	38to 56

							2023	2022
					Unrestricted	Restricted	Total funds	Total funds
					funds	funds
				Notes		F
INCOME AND ENDOWMENTS		FROM
Donations and legacies				3	1,675,115		1,675,115	1,664,735
Charitable activities				5
Promoting, maintaining,	improving		and advancing
education					262,223	2,928,873	3,191,096	3,551,181
Investment income					2,294	2,354	4,648	113
Other income					366	40,296	40,662
Total					1,939,998	2,971,523	4,911,521	5,216,029
EXPENDITURE ON
Raising funds					7,202		7,202	851
Charitable activities
Promoting, maintaining,	improving		and advancing
education					2,136,703	4,493,613	6,630,316	3,692,474
Total					2,143,905	4,493,613	6,637,518	3693,325
NET INCOME/(EXPENDITURE)					(203,907)	(1,522,090)	(1,725,997)	1,522,704
RECONCILIATION OF	FUNDS
Total funds brought forward					820,249	1,625,030	2,445,279	922,575
TOTAL FUNDS CARRIED FORWARD					616,342	102,940	719,282	2,445,279

					Group	Group		Charity
			Notes	2023		2022 f	2023 f	2022 f
FIXEDASSETS
Tangible assets			16	6,696		6,680	6,696	6,680
Investments			17				1	1
				6,696		6,680	6,697	6,681
CURRENT ASSETS
Debtors: amounts	falling due within one year		18	650,984		376,833	650,984	376,833
Cash at bank				350,297		2,768,845	350,297	2,768,845
				1,001,281		3,145,678	1,001,281	3,145,678
CREDITORS
Amounts falling due within one year			19	(288,695)		(707,079)	(288,696)	(707,080)
NET CURRENT ASSETS/(LIABILITIES)				712,586		2,438,599	712,585	2,438,598
TOTAL ASSETSLESSCURRENT LIABILITIES				719,282		2,445,279	719,282	2,445,279
NET ASSETS				719,282		2,445,279	719,282	2,445,279
FUNDS			21
Unrestricted funds:
(Including designated		funds)		616,342		820,249	616,342	820,249
Restricted funds				102,940	.	1,625,030	102,940	1,625,030
NET ASSETS				719,282		2,445,279	719,282	2,445,279

						2023	2022
					Notes		F
Cash flows from operating		activities:
Cash generated from operations						i2,418,743)	1,718,801
Net cash provided	by (used in) operating
activities						~2,418,743)	1,718,801
Cash flows from investing		activities:
Purchase oftangible	fixed assets					(4,902)	(4,002)
Sale oftangible fixed	assets					449	342
Interest received						4,648	113
Net cash provided by (used in) investing activities						195	~3.547)
Change in cash and	cash equivalents		in the
reporting period						(2,418,548)	1,715,254
Cash and cash equivalents		at the beginning		of
the reporting period						2,768,845	1,053,591
Cash and cash equivalents		at the end	ofthe
reporting period						350,287	2,788,845

RECONCILIATION ACTIVITIES	OF	NET IN	COME/(E	XPENDITURE) TO NET CAS	H FLOW FROM	OPERATING
					2023	2022
						F
Net income/(expenditure)		for the	reporting	period (as per the statement
offinancial activities)					(1,725,997)	1,522,704
Adjustments for:
Depreciation charges					4,803	5,860
Profit on disposal of	fixed	assets			(366)
Interest received					(4,648)	(113)
Theatre tax relief claim —movement			in debtor		(208,751)	(147,467)
Decrease/(increase) (Decrease)/increase	in debtors in creditors				(65,400) ~418,384)	(30,375) 368,192
Net cash provided	by (used in) operating			activities	~2.418,743)	1,718,801

ANALYSIS OF CHANGES	ANALYSIS OF CHANGES
		At 1/4/22	Cash flow	At 31/3/23
		F
Net cash
Cash at bank and	in hand	2,768,845	(2,418,548)	350,297
Total		2,788,845	~2,418,548)	350,287

				2023	2022
				f
Donations				195	660
Grants				1,674,920	1,664,075
				1,675,115	1,664,735
Grants received,	included	in the above,	are as follows:
				2023 f	2022 f
Arts Council ofWales - Core funding				1,648,436	1,624,075
Esmbe Fairbairn	Foundation			10,000	40,000
Arts Council ofWales —Cost of Living			Uplift	16,484
				1,674,920	1,664,075
INVESTMENT INCOME
				2023	2022
				f	f
Bank interest				4,648	113

					2023 f	2022 f
Theatre	tax	relief credit			251,778	95,854
Grants					103,768	167,970
Performing		and related activities			2,835,300	3,282,857
Speaker	fees				250
National	Companies		Consultancy	Project		4,500
					3,191,096	3,551,181

Grants received, included in the above	, are as follows:
		2023 f	2022f
Paul Hamlyn Foundation		48,973	91,370
Esmee Fairbaim Foundation		50,000
British Council —Go Digital			8,000
People's Palace Projects			18,600
Welsh Government —Communications	Strategy		10,000
John Ellerman Foundation Arts Council ofWales —Yma 0 Hyd project		500	40,000
Gottfried Wilhelm Leibniz Universitat	Hannover	4,295
		103,788	167,970
OTHER INCOME
		2023	2022
		F
Gain on sale oftangible fixed assets		366
Other income		11,946
Film tax relief		28,350
		40,662

							Direct Costs	Direct Costs	Support
							(see note		costs (see
								9)	note 10) f	Totals f
	Promoting,	maintaining,	improving		and
	advancing	education					6,039,094		591,222	6,630,316
10.	DIRECT COSTS OF CHARITABLE ACTIVITIES
									2023	2022
									f
	Staff costs								1,464,531	1,096,498
	Creative and artistic activities								4,189,728	1,929,626
	Marketing costs								369,827	127,951
	Recruitment	costs							15,008	7,721
									6,039,094	3,161796
11.	SUPPORT	COSTS
									Governance
					Staff costs	Other costs f	Depreciation f		costs f	Totals f
	Promoting,	maintaining,
	improving and advancing
	education				336,139	204,958		4,803	45,322	591 222
12.	NET INCOME/(EXPENDITURE)
	Net income/(expenditure)			is stated	after charging/(crediting):
									2023 f	2022f
	Auditors' remuneration								11,671	5,820
	Auditors' remuneration		for	non-audit	work				1,658	990
	Depreciation Surplus on	- owned assets disposal offixed assets							4,803 ~366)	5,860

STAFF COSTS
								2023	2022
								f	f
Employee costs during the year
Wages and salaries								1,580,908	1,288,610
Employer's National	Insurance		contributions					151,934	113,920
Pension costs								67,828	57,650
								1,800,670	1,460,180
								2023	2022
Number ofpersons	employed
Permanent staff								21		21
Collective Cymru								15		9
Temporary production	staff							6		3
										33
The number of employees		whose		emoluments,	as defined		for taxation	purposes, amounted	to a rate of	over
F60,000 during the year were as follows:
								2023	2022
f60,001 - f70,000								1		1
F70,001 - F80,000 F80,001 - f90,000								1		1
All employees earning	more	than F60,000were			members	of	the company	pension scheme.

					Unrestricted	Restricted	Total funds
					funds	funds
					f
INCOME AND ENDOWMENTS		FROM
Donations and legacies					1,664,735		1,664,735
Charitable activities
Promoting, maintaining,	improving		and advancing	education	346,582	3,204,599	3,551,181
Investment income					113		113
Other income
Total					2,011,430	3,204,599	5,216,029
EXPENDITURE ON
Raising funds					851		851
Charitable activities
Promoting, maintaining,	improving		and advancing	education	1,996,634	1,695,840	3,692,474
Total					1,997,485	1,695,840	3,693,325
NET INCOME/(EXPENDITURE)					13,945	1,508,759	1,522,704
Transfers between funds
Net movement in funds					13,945	1,508,759	1,522,704
RECONCILIATION OF FUNDS
Total funds brought forward					806,304	116,271	922,575
TOTAL FUNDS CARRIED FORWARD					820,249	1,625,030	2,445,279

TANGIBLE FIXEDASSETS —Group and ch	arity
	Fixtures
	and	Computer
	fittings	equipment	Totals
	F		F
COST
At 1 April 2022	33,110	57,183	90,293
Additions		4,902	4,902
Disposals		~5,121)	~5,121)
At 31 March 2023	33,110	56,964	90,074
DEPRECIATION
At 1 April 2022	32,826	50,787	83,613
Charge for year	170	4,633	4,803
Eliminated on disposal		~5,038)	~5,038)
At 31 March 2023	32,996	50,382	83,378
NET BOOK VALUE
At 31 March 2023	114	6,582	6,696
At 31 March 2022	284	6,396	6,680

DEBTO	RS:AMOUNTS		FALLING DUE WITHIN ONE	YEAR
				Group	Group	Charity	Charity
				2023	2022	2023	2022
Trade debtors				8,201	144,299	8,201	144,299
Other debtors				28,453	43	28,453	43
Accrued	income			151,891	18,536	151,891	18,536
Theatre	tax relief recoverable			403,020	194,269
VAT				23,146		23,146
Prepayments				36,273	19,686	36,273	19,686
Amounts	owed by group		undertakings			403,020	194,269
				650,984	376,833	650,984	376,833
CREDITORS: AMOUNTS			FALLING DUE WITHIN ONE YEAR
				Group	Group	Charity	Charity
				2023	2022	2023	2023
				F	F		F
Trade creditors				83,698	49,528	83,698	49,528
Social security and other			taxes	22,242	35,950	22,242	35,950
VAT					358,455		358,455
Other creditors				59,106	62,546	59,107	62,547
Accruals				123,649	151,627	123,649	151,627
Deferred	income				48,973		48,973
				288,695	707,079	288,696	707,080
Included	within deferred	income above is the following:
						2023	2022
						F
Paul Hamlyn Foundation							48,973
							48973

Minimum	iease payments
		2023	2022
			f
Within one year		24,228	31,122
Between	one and five years	13136	23,500
		37,364	54,622

MOVEMENT IN	FUNDS
				Net	Transfers
				movement	between	At
			At 1/4/22 E	in funds E	funds f	31/3/23 F
Unrestricted funds
General fund			283,806	157,620	(276,208)	165,218
Designated fund	- Fixed assets		6,680	(4,803)	4,819	6,696
Designated fund Designated fund	- TEAM - Marketing		4,100 60,227	(366) (54,528)		3,734 5,699
Designated fund Designated fund	- Core resilience - Creative Development		7,947 26,697	(6,091) (7,016)	19,596	1,856 39,277
Designated fund	- Office Improvements		1,808			1,808
Designated fund	- Productions		230,645	(230,645)	236,956	236,956
Designated fund	- Organisational	review
changes			35,000			35,000
Designated fund	- Creative Development
posts			40,686			40,686
Designated fund	- Creative Development
projects Designated fund	- Springboard bursaries		4,000 32,210	(1,500) (1,635)	(28,110)	2,500 2,465
Designated fund	- Festival 2022 Support
(Creative Associate)			33,443	(5,535)		27,908
Designated fund	- Young People's	Strategy	13,000	(9,408)		3,592
Designated fund	- Collaboration in
Productions					35,000	35,000
Designated fund	- Producing support				7,947	7,947
Designated fund Arts	- Reinventing Performing		40,000	~40.000)
			820,249	(203,907)		616,342
Restricted funds
Paul Hamlyn Foundation			61,200	(61,200)
Esmee Fairbaim	Foundation		790	(290)		500
National Companies Consultancy		Project	7,582	(750)		6,832
Battersea Arts Centre - The Agency			9,874			9,874
Big Lottery Fund Mametz real-time	-Access Forum digital lesson plans		2,330 1,381	(450)		2,330 931
Andrew Lloyd Webber Foundation-
Emerging Directors People's Palace Projects (Far Apart UK) Bluestone Foundation/Little Green Grant			4,000 12,670 109	(1,500) (8,756)		2,500 3,914 109
Festival 2022 - Galwad			1,485,094	(1,461,005)		24,089
John Ellerman Foundation -Associate
Dramaturg Programme			40,000	(22,137)		17,863
Esmee Fairbaim	Foundation -A Fairer
Future				31,747		31,747
Unboxed / Galwad SXSWsupport Arts Council Wales Gwyl Grant- Yma 0				2,205		2,205
Hyd				46		46
			1,625,030	1,522,090		102,940
TOTAL FUNDS			2,445,279	~1,725,997)		719,292

Net movement in funds, included	Net movement in funds, included	in the above are as follows:
			Incoming	Resources	Movement
			resources f	expended f	in funds f
Unrestricted funds
General fund			1,939,998	(1,782,378)	157,620
Designated fund - Fixed assets				(4,803)	(4,803)
Designated fund - TEAM				(366)	(366)
Designated fund - Marketing				(54,528)	(54,528)
Designated fund - Core resilience				(6,091)	(6,091)
Designated fund - Creative Development				(7,016)	(7,016)
Designated fund - Productions				(230,645)	(230,645)
Designated fund - Creative Development
projects				(1,500)	(1,500)
Designated fund - Springboard	bursaries			(1,635)	(1,635)
Designated fund - Festival 2022 Support
(Creative Associate)				(5,535)	(5,535)
Designated fund - Young People's		Strategy		(9,408)	(9,408)
Designated fund - Reinventing Arts	Performing			~40,000)	~40,000)
			1,939,998	(2,143,905)	(203,907)
Restricted funds
Paul Hamlyn Foundation			48,973	(110,173)	(61,200)
Esmee Fairbaim Foundation				(290)	(290)
National Companies Consultancy		Project		(750)	(750)
Mametz real-time digital lesson	plans			(450)	(450)
Andrew Lloyd Webber Foundation-
Emerging Directors				(1,500)	(1,500)
People's Palace Projects (Far Apart UK)				(8,756)	(8,756)
Festival 2022 - Galwad			2,836,505	(4,297,510)	(1,461,005)
John Ellerman Foundation -Associate
Dramaturg Programme				(22,137)	(22,137)
Esmee Fairbaim Foundation -A Fairer
Future			50,000	(18,253)	31,747
Unboxed IGalwad SXSWsupport Arts Council Wales Gwyl Grant- Yma 0			31,250	(29,045)	2,205
Hyd Media Futures			500 4,295	(454) ~4,295)	46
			2,971,523	~4,493,613)	~1,522,090)
TOTAL FUNDS			4,911,521	~6,637,516)	j1,725,997)

Comparatives f	or movement	in	funds
					Net	Transfers
					movement	between	At
				At 1/4/21 F	in funds	funds F	31/3/22 f
Unrestricted funds
General fund				251,901	356,592	(324,687)	283,806
Designated fund	- Fixed assets			8,880	(5,860)	3,660	6,680
Designated fund	- TEAM			4,100			4,100
Designated fund	- Marketing			40,683	(7,956)	27,500	60,227
Designated fund	- Core resilience			12,947	(2,389)	(2,611)	7,947
Designated fund	- Creative Development			62,195	(34,011)	(1,487)	26,697
Designated fund	- Office Improvements			2,458	(650)		1,808
Designated fund	- Productions			316,822	(264,463)	178,286	230,645
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)	40,686	40,686
Designated fund	- Creative Development
projects				6,000	(2,000)		4,000
Designated fund	—Springboard	bursaries		50,000	(50,000)	32,210	32,210
Designated fund	—Festival 2022 Support
(Creative Associate)						33,443	33,443
Designated fund	—Young People's		Strategy			13,000	13,000
Designated fund	—Reinventing	Performing			40,000		40,000
Arts
				806,304	13,945		820,249
Restricted funds
Paul Hamlyn Foundation				56,473	4,727		61,200
Esmhe Fairbaim	Foundation			11,322	(10,532)		790
Arts Council Wales - Ocean Park Creative
Collaboration				1,064	(1,064)
National Companies Consultancy			Project	19,863	(12,281)		7,582
Battersea Arts Centre - The Agency				9,874			9,874
Big Lottery Fund	- Access Forum			2,330			2,330
Mametz real-time	digital lesson plans			2,356	(975)		1,381
Andrew Lloyd Webber Foundation-
Emerging Directors				6,000	(2,000)		4,000
People's Palace Projects (Far Apart UK)				6,880	5,790		12,670
Bluestone Foundation/Little Green			Grant	109			109
Festival 2022 - Galwad					1,485,094		1,485,094
John Ellerman Foundation —Associate
Dramaturg Programme					40,000		40,000
				116,271	1,508,759		1,625,030
TOTAL FUNDS				922,575	1,522,704		2,445,279

Net movement i	n funds, included	in th	e a	bove	are as follows:
						Incoming	Resources	Movement
						resources f	expended	in funds
Unrestricted funds
General fund						1,971,430	(1,614,838)	356,592
Designated fund	- Fixed assets						(5,860)	(5,860)
Designated fund	- Marketing						(7,956)	(7,956)
Designated fund	- Core resilience						(2,389)	(2,389)
Designated fund	- Creative Development						(34,011)	(34,011)
Designated fund	- Office Improvements						(650)	(650)
Designated fund	- Productions						(264,463)	(264,463)
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			(2,000)	(2,000)
Designated fund	- Springboard bursaries						(50,000)	(50,000)
Designated fund	—Reinventing Performing			Arts		40,000		40,000
						2,011,430	(1,997,485)	13,945
Restricted funds
Paul Hamlyn Foundation						91,370	(86,643)	4,727
Esmbe Fairbaim	Foundation						(10,532)	(10,532)
Arts Council Wales —Ocean Park		Creative		Collaboration			(1,064)	(1,064)
National Companies Consultancy		Project				4,500	(16,781)	(12,281)
Mametz real-time	digital lesson plans						(975)	(975)
Andrew Lloyd Webber Foundation		—Emerging			Directors		(2,000)	(2,000)
People's Palace Projects (Far Apart UK)						18,600	(12,810)	5,790
Festival 2022 —Galwad						3,042,129	(1,557,035)	1,485,094
John Ellerman Foundation —Associate			Dramaturg
Programme British Council —Go Digital						40,000 8,000	~8,000)	40,000
						3,204,599	~1,695,840	1,508,759
TOTAL FUNDS						5,216,029	~3,693,325)	1,522,704
Desi nated funds
Designated fund	- Fixed Assets
The fund represents the net book		value	of	fixed	assets.

A summary o	fthe	res	ults ofthe	subsid	iary is shown below:
						2023	2022
						f	F
Turnover						641,157	467,938
Cost ofsales						(896,710)	(615,405)
Gross profit						(255,553)	(147,467)
Administrative	expenses
Loss on ordinary		activities before taxation				(255,553)	(147,467)
Theatre tax relief		claim				255 553	147467
Profit for the	financial		year
The aggregate	of	the	assets, liabilities		and funds was:
						2023	2022
						F
Assets						255,554	194,270
Liabilities						(255,553)	(194,269)
Funds (representing			1 ordinary	share	ofE1)