## Contents Charity Information ................................................................................................................... 3 Structure, Governance and Management ................................................................................. 5 Financial Review ........................................................................................................................ 7 Public Benefit Statement ......................................................................................................... 17 Mission, Vision and Objectives ................................................................................................ 20 Annual Report of Activities 2020-21........................................................................................ 22 Artistic work ............................................................................................................................. 22 Di9ltol Charity Trustees for the period of this Annual Report Nigel Rees Hadley Taylor (recruited May 20) Damien Dickenson (recruited May 20) Tafsila Khan (recruited May 20) Dr Marta Minier (recruited May 20) Andrew finley (recruited May 20) Jenna Pre￿e ( recruited May 20 - resigned Feb 21) Dr Emily Garside (Chair for the period of this report) Sara McKay Tony McKay Dr Sara Rhys- Jones Matthew Bassett Trustees Annual Report 2020- 21 Taking Flight Theatre Company1131762 tokingflighttheatre.org.uk **----- Start of picture text -----**
Breakdown of support for creative sector via
Covid recovery fund
Designers
20%
Musicians
Freelancers- sector wide
5%
38%
performers Technical
9% 28%
Freelancers- sector wide Technical performers Musicians Designers
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Fundraising/
donations Income breakdown
Theatre Tax
Relief 3%
Ticket Sales
5% BBC grant 0%
7%
Job Retention Scheme
8%
Arts Council Wales
Grants (other) Grants
8% 50%
Earned Income
19%
Arts Council Wales Grants Earned Income Grants (other)
Job Retention Scheme BBC grant Theatre Tax Relief
Fundraising/ donations Ticket Sales
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Earned income Breakdown
Consultancy Training12% AD Services
12% 21%
Directing/ rehearsls
13%
workshops Access coordination CPD
5%
25% 12%
AD Services Directing/ rehearsls CPD Access coordination workshops Consultancy Training
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'Creative' expenditure comparison
35000
30000
25000
20000
15000
10000
5000
0
2021 2020
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Access and Communication Support Costs
16000
14000
12000
10000
8000
6000
4000
2000
0
access budget Access Worker Communication/Support Costs
2021 2020
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Running Costs-Comparison
12000
10000
8000
6000
4000
2000
0
2021 2020
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Running Costs- Comparison
1600
1400
1200
1000
800
600
400
200
0
2021 2020
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Salary and staffing costs- comparison
100000
90000
80000
70000
60000
50000
40000
30000
20000
10000
0
Salary OnCosts Pension
2021 2020
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- - - - - - - - - - - - - - - - - Trustees Annual Report 2020- 21 Taking Flight Theatre Company1131762 tokingflighttheatre.org.uk Company Registration No. 6690647 (England and Wales) **TAKING FLIGHT THEATRE COMPANY ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021** **TAKING FLIGHT THEATRE COMPANY COMPANY INFORMATION FOR THE YEAR ENDED 31 MARCH 2021** **Directors** Dr Emily Garside Nigel Rees Hadley Taylor Damien Dickenson Tafsila Khan Dr Marta Minier Jenna Preece (Resigned Feb 2021) Andrew Tinley Sara McKay Tony McKay Ben Owen-Jones Dr Sara Rhys- Jones Matthew Bassett **Company Number** 6690647 (England and Wales) **Registered Office** Unit 8 8 Market Road Cardiff CF5 1QE United Kingdom **Accountants** Nigel Rees Accountancy Limited Cairnsmuir 6 Penyfai lane Llanelli SA15 4EN - 2 ## **TAKING FLIGHT THEATRE COMPANY (COMPANY NO: 6690647 ENGLAND AND WALES) DIRECTORS' REPORT** The directors present their report and accounts for the year ended 31 March 2021. ## Directors The following directors held office during the whole of the period: Dr Emily Garside Nigel Rees Dr Sara Rhys-Jones Matthew Bassett Sara McKay Tony McKay ## Statement of directors' responsibilities The directors are responsible for preparing the report and accounts in accordance with applicable law and regulations. Company law requires the directors to prepare accounts for each financial year. Under that law, the directors have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these accounts, the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgements and estimates that are reasonable and prudent; - prepare the accounts on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. - 3 ## **TAKING FLIGHT THEATRE COMPANY (COMPANY NO: 6690647 ENGLAND AND WALES) DIRECTORS' REPORT** ## Small company provisions This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006. Signed on behalf of the board of directors ............................................................................ Dr Emily Garside Director Approved by the board on: 20 January 2022 - 4 **TAKING FLIGHT THEATRE COMPANY ACCOUNTANTS' REPORT** I report to the charity trustees on my examination of the accounts of the Company for the year ended 30/03/2021. As the charity’s trustees of the Company (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”). Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination, I have followed the Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act. I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that: - accounting records were not kept in accordance with section 386 of the Companies Act 2006; or - the accounts do not accord with such records; or • the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or •the accounts have not been prepared in accordance with the Charities SORP (FRS102). IER 2 October 2018 I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed: Name: Frances Tyler (AAT) Gripp Fawr Trapp Llandeilo SA19 6RB 20[th] January 2022 - 5 **TAKING FLIGHT THEATRE COMPANY INCOME STATEMENT FOR THE YEAR ENDED 31 MARCH 2021** |**Turnover**
Cost of sales
**Gross profit**
Administrative expenses
Other operating income
**Operating profit**
Interest payable and similar charges
**Profit on ordinary activities before taxation**
Tax on profit on ordinary activities
**Profit for the financial year**|**2021**
**£**
174,061
(92,957)
81,104
(125,114)
120,376

76,366
-
76,366
-
76,366|**2020**
**£**
289,435
( 75,623)| |---|---|---| |||153,417
(152,785)
-| |||632
(27)| |||605
-| |||| |||605| - 6 **TAKING FLIGHT THEATRE COMPANY STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2021** |**Current assets**
**Notes**
Debtors
4
Cash at bank and in hand
**Creditors: amounts falling due within one year**
5
**Net current assets**
**Net assets**
**Capital and reserves**
Profit and loss account
**Shareholders' funds**|**2021**
**£**
8,218
105,571
113,789
(17,266)
96,523
96,523
96,523
96,523|**2020**
**£**
28,322
5,040| |---|---|---| |||33,362
(13,205)| |||20,157| |||20,157| |||| |||20,157| |||20,157| For the year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. Approved by the Board on 20 January 2022. Dr Emily Garside Director Company Registration No. 6690647 - 7 **TAKING FLIGHT THEATRE COMPANY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021** ## **1** Statutory information Taking Flight Theatre Company is a private company, limited by shares, registered in England and Wales, registration number 6690647. The registered office is Unit 8, 8 Market Road, Cardiff, CF5 1QE, United Kingdom. ## **2** Compliance with accounting standards The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard. ## **3** Accounting policies The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts. ## _**Basis of preparation**_ The accounts have been prepared in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Ireland. (FRS102) ## Turnover Turnover represents the income derived from charitable activities and is recognised on an accruals basis. ## Expenditure All expenditure incurred by the charity relates to charitable activities.The accrual basis has been adopted for the recognition of current assets and liabilities. ## Fund Accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. ## _**Presentation currency**_ The accounts are presented in £ sterling. - 8 ## **TAKING FLIGHT THEATRE COMPANY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021** ## **4 Debtors** |||| |---|---|---| |**4 Debtors**
Trade debtors
Accrued income and prepayments
Other debtors
**5 Creditors: amounts falling due within one year**
Trade creditors
Accruals|**2021**
**£**
8,001
217
-
8,218
**2021**
**£**
13,464
3,802
17,266|**2020**
**£**
10,817
217
17,288| |||28,322| |||**2020**
**£**
9,403
3,802| |||13,205| ## **6 Average number of employees** During the year the average number of employees was 4 (2020: 3). - 9 10 |**Turnover**
Sales
**Cost of sales**
Purchases
Direct labour
Other direct costs
**Gross profit**
**Administrative expenses**
Wages and salaries
Pensions
Staff training and welfare
Travel and subsistence
Motor expenses
Rent
Light and heat
Telephone and fax
Internet
Postage
Stationery and printing
Information and publications
Subscriptions
Bank charges
Insurance
Equipment expensed
Equipment hire
Software
Repairs and maintenance
Sundry expenses
Consultancy fees
Advertising and PR
Other legal and professional
**Other operating income**
Other operating income
**Operating profit**
Interest Payable|**2021**
**£**
174,061
92,802
-
155
92,957
81,104
86,766
5,376
7,126
656
-
3,004
56
1,624
115
407
2,129
21
945
28
1,974
-
-
1,622
-
589
10,971
686
1,019
125,114
120,376
76,366
-|**2020**
**£**
229,040| |---|---|---| |||75,323
-
300| |||75,623| |||153,417| |||85,942
4,929
3,394
19,002
1,448
7,228
432
618
1,724
259
660
19
546
549
1,406
-
5,451
564
152
4,425
950
9,799
3,288| |||152,785| |||-| |||632| |||27| **Profit on ordinary activities after interest** **76,366 605**