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





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||||||||2023|2022|
|---|---|---|---|---|---|---|---|---|
||||||Unrestricted|Restricted|Total funds|Total funds|
||||||funds|funds|||
|||||Notes||F|||
|INCOME AND ENDOWMENTS||FROM|||||||
|Donations<br>and legacies||||3|1,675,115||1,675,115|1,664,735|
|Charitable<br>activities||||5|||||
|Promoting,<br>maintaining,|improving||and advancing||||||
|education|||||262,223|2,928,873|3,191,096|3,551,181|
|Investment<br>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<br>activities|||||||||
|Promoting,<br>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<br>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<br>f|2023<br>f|2022<br>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<br>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<br>funds:|||||||||
|(Including<br>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<br>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<br>oftangible|fixed assets|||||(4,902)|(4,002)|
|Sale oftangible<br>fixed|assets|||||449|342|
|Interest received||||||4,648|113|
|Net cash provided<br>by (used in) investing<br>activities||||||195|~3.547)|
|Change<br>in cash and|cash equivalents||in the|||||
|reporting<br>period||||||(2,418,548)|1,715,254|
|Cash and cash equivalents||at the beginning||of||||
|the reporting<br>period||||||2,768,845|1,053,591|
|Cash and cash equivalents||at the end|ofthe|||||
|reporting<br>period||||||350,287|2,788,845|





## 

|RECONCILIATION<br>ACTIVITIES|OF|NET<br>IN|COME/(E|XPENDITURE)<br>TO<br>NET<br>CAS|H<br>FLOW<br>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<br>for:|||||||
|Depreciation<br>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)<br>(Decrease)/increase|in debtors<br>in creditors||||(65,400)<br>~418,384)|(30,375)<br>368,192|
|Net cash provided|by (used in) operating|||activities|~2.418,743)|1,718,801|



|2.|ANALYSIS OF CHANGES|ANALYSIS OF CHANGES|IN NET FUNDS||||
|---|---|---|---|---|---|---|
|||||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|





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## 

|||||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<br>f|2022<br>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<br>f|2022<br>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,<br>included<br>in the above|, are as follows:|||
|---|---|---|---|
|||2023<br>f|2022f|
|Paul Hamlyn<br>Foundation||48,973|91,370|
|Esmee Fairbaim<br>Foundation||50,000||
|British Council —Go Digital|||8,000|
|People's Palace Projects|||18,600|
|Welsh Government<br>—Communications|Strategy||10,000|
|John Ellerman<br>Foundation<br>Arts Council ofWales —Yma 0 Hyd project||500|40,000|
|Gottfried Wilhelm<br>Leibniz Universitat|Hannover|4,295||
|||103,788|167,970|
|OTHER INCOME||||
|||2023|2022|
|||F||
|Gain on sale oftangible<br>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)<br>f|Totals<br>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<br>f|Depreciation<br>f||costs<br>f|Totals<br>f|
||Promoting,|maintaining,|||||||||
||improving<br>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<br>f|2022f|
||Auditors'<br>remuneration||||||||11,671|5,820|
||Auditors'<br>remuneration||for|non-audit|work||||1,658|990|
||Depreciation<br>Surplus<br>on|- owned assets<br> disposal offixed assets|||||||4,803<br>~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<br>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<br>staff||||||||21||21|
|Collective<br>Cymru||||||||15||9|
|Temporary<br>production|staff|||||||6||3|
|||||||||||33|
|The number<br>of employees||whose||emoluments,|as defined||for taxation|purposes,<br>amounted|to a rate of|over|
|F60,000 during<br>the year were as follows:|||||||||||
|||||||||2023|2022||
|f60,001 - f70,000||||||||1||1|
|F70,001 - F80,000<br>F80,001 - f90,000||||||||1||1|
|All employees<br>earning|more|than F60,000were|||members|of|the company|pension scheme.|||





## 

||||||Unrestricted|Restricted|Total funds|
|---|---|---|---|---|---|---|---|
||||||funds|funds||
||||||f|||
|INCOME AND ENDOWMENTS||FROM||||||
|Donations<br>and legacies|||||1,664,735||1,664,735|
|Charitable<br>activities||||||||
|Promoting,<br>maintaining,|improving||and advancing|education|346,582|3,204,599|3,551,181|
|Investment<br>income|||||113||113|
|Other income||||||||
|Total|||||2,011,430|3,204,599|5,216,029|
|EXPENDITURE ON||||||||
|Raising funds|||||851||851|
|Charitable<br>activities||||||||
|Promoting,<br>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<br>between funds||||||||
|Net movement<br>in funds|||||13,945|1,508,759|1,522,704|
|RECONCILIATION<br>OF FUNDS||||||||
|Total funds brought<br>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<br>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<br>Foundation|||||||48,973|
||||||||48973|



## 



## 

## 

## 

|Minimum|iease payments|under non-cancellable|operating|leases fall due as follows:|||
|---|---|---|---|---|---|---|
||||||2023|2022|
|||||||f|
|Within one year|||||24,228|31,122|
|Between|one and five years||||13136|23,500|
||||||37,364|54,622|





|21.|MOVEMENT<br>IN|FUNDS||||||
|---|---|---|---|---|---|---|---|
||||||Net|Transfers||
||||||movement|between|At|
|||||At 1/4/22<br>E|in funds<br>E|funds<br>f|31/3/23<br>F|
||Unrestricted<br>funds|||||||
||General<br>fund|||283,806|157,620|(276,208)|165,218|
||Designated<br>fund|- Fixed assets||6,680|(4,803)|4,819|6,696|
||Designated<br>fund <br>Designated<br>fund|- TEAM<br> - Marketing||4,100<br>60,227|(366)<br>(54,528)||3,734<br>5,699|
||Designated<br>fund <br>Designated<br>fund|- Core resilience<br> - Creative Development||7,947<br>26,697|(6,091)<br>(7,016)|19,596|1,856<br>39,277|
||Designated<br>fund|- Office Improvements||1,808|||1,808|
||Designated<br>fund|- Productions||230,645|(230,645)|236,956|236,956|
||Designated<br>fund|- Organisational|review|||||
||changes|||35,000|||35,000|
||Designated<br>fund|- Creative<br>Development||||||
||posts|||40,686|||40,686|
||Designated<br>fund|- Creative<br>Development||||||
||projects<br>Designated<br>fund|- Springboard<br>bursaries||4,000<br>32,210|(1,500)<br>(1,635)|(28,110)|2,500<br>2,465|
||Designated<br>fund|- Festival 2022 Support||||||
||(Creative Associate)|||33,443|(5,535)||27,908|
||Designated<br>fund|- Young People's|Strategy|13,000|(9,408)||3,592|
||Designated<br>fund|- Collaboration<br>in||||||
||Productions|||||35,000|35,000|
||Designated<br>fund|- Producing<br>support||||7,947|7,947|
||Designated<br>fund <br>Arts|- Reinventing<br>Performing||40,000|~40.000)|||
|||||820,249|(203,907)||616,342|
||Restricted funds|||||||
||Paul Hamlyn<br>Foundation|||61,200|(61,200)|||
||Esmee Fairbaim|Foundation||790|(290)||500|
||National<br>Companies<br>Consultancy||Project|7,582|(750)||6,832|
||Battersea Arts Centre - The Agency|||9,874|||9,874|
||Big Lottery Fund <br>Mametz<br>real-time|-Access Forum<br>digital lesson plans||2,330<br>1,381|(450)||2,330<br>931|
||Andrew<br>Lloyd Webber Foundation-|||||||
||Emerging<br>Directors<br>People's Palace Projects (Far Apart UK)<br>Bluestone<br>Foundation/Little<br>Green Grant|||4,000<br>12,670<br>109|(1,500)<br>(8,756)||2,500<br>3,914<br>109|
||Festival 2022 - Galwad|||1,485,094|(1,461,005)||24,089|
||John Ellerman<br>Foundation<br>-Associate|||||||
||Dramaturg<br>Programme|||40,000|(22,137)||17,863|
||Esmee Fairbaim|Foundation<br>-A Fairer||||||
||Future||||31,747||31,747|
||Unboxed<br>/ Galwad SXSWsupport<br>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<br>in funds,<br>included|Net movement<br>in funds,<br>included|in the above are as follows:||||
|---|---|---|---|---|---|
||||Incoming|Resources|Movement|
||||resources<br>f|expended<br>f|in funds<br>f|
|Unrestricted<br>funds||||||
|General<br>fund|||1,939,998|(1,782,378)|157,620|
|Designated<br>fund - Fixed assets||||(4,803)|(4,803)|
|Designated<br>fund - TEAM||||(366)|(366)|
|Designated<br>fund - Marketing||||(54,528)|(54,528)|
|Designated<br>fund - Core resilience||||(6,091)|(6,091)|
|Designated<br>fund - Creative Development||||(7,016)|(7,016)|
|Designated<br>fund - Productions||||(230,645)|(230,645)|
|Designated<br>fund - Creative Development||||||
|projects||||(1,500)|(1,500)|
|Designated<br>fund - Springboard|bursaries|||(1,635)|(1,635)|
|Designated<br>fund - Festival 2022 Support||||||
|(Creative Associate)||||(5,535)|(5,535)|
|Designated<br>fund - Young People's||Strategy||(9,408)|(9,408)|
|Designated<br>fund - Reinventing<br>Arts|Performing|||~40,000)|~40,000)|
||||1,939,998|(2,143,905)|(203,907)|
|Restricted funds||||||
|Paul Hamlyn<br>Foundation|||48,973|(110,173)|(61,200)|
|Esmee Fairbaim<br>Foundation||||(290)|(290)|
|National<br>Companies<br>Consultancy||Project||(750)|(750)|
|Mametz real-time<br>digital lesson|plans|||(450)|(450)|
|Andrew<br>Lloyd Webber Foundation-||||||
|Emerging<br>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<br>Foundation<br>-Associate||||||
|Dramaturg<br>Programme||||(22,137)|(22,137)|
|Esmee Fairbaim<br>Foundation<br>-A Fairer||||||
|Future|||50,000|(18,253)|31,747|
|Unboxed IGalwad SXSWsupport<br>Arts Council Wales Gwyl Grant- Yma 0|||31,250|(29,045)|2,205|
|Hyd<br>Media Futures|||500<br>4,295|(454)<br>~4,295)|46|
||||2,971,523|~4,493,613)|~1,522,090)|
|TOTAL FUNDS|||4,911,521|~6,637,516)|j1,725,997)|





## 

## 

## 

|Comparatives<br>f|or movement|in|funds|||||
|---|---|---|---|---|---|---|---|
||||||Net|Transfers||
||||||movement|between|At|
|||||At 1/4/21<br>F|in funds|funds<br>F|31/3/22<br>f|
|Unrestricted<br>funds||||||||
|General<br>fund||||251,901|356,592|(324,687)|283,806|
|Designated<br>fund|- Fixed assets|||8,880|(5,860)|3,660|6,680|
|Designated<br>fund|- TEAM|||4,100|||4,100|
|Designated<br>fund|- Marketing|||40,683|(7,956)|27,500|60,227|
|Designated<br>fund|- Core resilience|||12,947|(2,389)|(2,611)|7,947|
|Designated<br>fund|- Creative<br>Development|||62,195|(34,011)|(1,487)|26,697|
|Designated<br>fund|- Office Improvements|||2,458|(650)||1,808|
|Designated<br>fund|- Productions|||316,822|(264,463)|178,286|230,645|
|Designated<br>fund|- Organisational||review|||||
|changes||||35,000|||35,000|
|Designated<br>fund|- HR support|||5,746|(5,746)|||
|Designated<br>fund|- CEO support|||2,750|(2,750)|||
|Designated<br>fund|- Creative<br>Development|||||||
|posts||||6,822|(6,822)|40,686|40,686|
|Designated<br>fund|- Creative<br>Development|||||||
|projects||||6,000|(2,000)||4,000|
|Designated<br>fund|—Springboard|bursaries||50,000|(50,000)|32,210|32,210|
|Designated<br>fund|—Festival 2022 Support|||||||
|(Creative Associate)||||||33,443|33,443|
|Designated<br>fund|—Young People's||Strategy|||13,000|13,000|
|Designated<br>fund|—Reinventing|Performing|||40,000||40,000|
|Arts||||||||
|||||806,304|13,945||820,249|
|Restricted funds||||||||
|Paul Hamlyn<br>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<br>Companies<br>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<br>real-time|digital lesson plans|||2,356|(975)||1,381|
|Andrew<br>Lloyd Webber Foundation-||||||||
|Emerging<br>Directors||||6,000|(2,000)||4,000|
|People's Palace Projects (Far Apart UK)||||6,880|5,790||12,670|
|Bluestone<br>Foundation/Little<br>Green|||Grant|109|||109|
|Festival 2022 - Galwad|||||1,485,094||1,485,094|
|John Ellerman<br>Foundation —Associate||||||||
|Dramaturg<br>Programme|||||40,000||40,000|
|||||116,271|1,508,759||1,625,030|
|TOTAL FUNDS||||922,575|1,522,704||2,445,279|





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|Net movement<br>i|n funds,<br>included|in th|e a|bove|are as follows:||||
|---|---|---|---|---|---|---|---|---|
|||||||Incoming|Resources|Movement|
|||||||resources<br>f|expended|in funds|
|Unrestricted<br>funds|||||||||
|General<br>fund||||||1,971,430|(1,614,838)|356,592|
|Designated<br>fund|- Fixed assets||||||(5,860)|(5,860)|
|Designated<br>fund|- Marketing||||||(7,956)|(7,956)|
|Designated<br>fund|- Core resilience||||||(2,389)|(2,389)|
|Designated<br>fund|- Creative<br>Development||||||(34,011)|(34,011)|
|Designated<br>fund|- Office Improvements||||||(650)|(650)|
|Designated<br>fund|- Productions||||||(264,463)|(264,463)|
|Designated<br>fund|- HR support||||||(5,746)|(5,746)|
|Designated<br>fund|- CEO support||||||(2,750)|(2,750)|
|Designated<br>fund|- Creative<br>Development|||posts|||(6,822)|(6,822)|
|Designated<br>fund|- Creative Development|||projects|||(2,000)|(2,000)|
|Designated<br>fund|- Springboard<br>bursaries||||||(50,000)|(50,000)|
|Designated<br>fund|—Reinventing<br>Performing|||Arts||40,000||40,000|
|||||||2,011,430|(1,997,485)|13,945|
|Restricted funds|||||||||
|Paul Hamlyn<br>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<br>Companies<br>Consultancy||Project||||4,500|(16,781)|(12,281)|
|Mametz real-time|digital lesson plans||||||(975)|(975)|
|Andrew<br>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<br>Foundation —Associate|||Dramaturg||||||
|Programme<br>British Council —Go Digital||||||40,000<br>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<br>nated funds|||||||||
|Designated<br>fund|- Fixed Assets||||||||
|The fund represents<br>the net book||value|of|fixed|assets.||||





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|A summary<br>o|fthe|res|ults ofthe|subsid|iary<br>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)|||