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|||||||Page|
|---|---|---|---|---|---|---|
|Reference|and Administrative||Details ofthe Charitable|Company,|its Trustees and||
|Advisers|||||||
|Chairman's|Statement||||||
|Trustees'|Report|||||3-12|
|Independent
Auditors'||Report|on the Financial Statements|||13-16|
|Statement|of Financial|Activities||||17|
|Balance Sheet||||||18-19|
|Statement|ofCash Flows|||||20|
|Notes to the Financial||Statements||||21-39|
##
|Trustees|||Nicholas
Allan||||||
|---|---|---|---|---|---|---|---|---|
||||Lord Mark Ashbuiton||||||
||||Daniel Benton||||||
||||Rosamund
Bernays||||||
||||Sophie Caruth||||||
||||The Rt Hon Sir Charles Haddon-Cave||||(resigned 17September 2021)||
||||Owen Jonathan|(resigned 17|September 2021)||||
||||Malcolm Le May||||||
||||Richard Morse, Chair ofthe Finance and General Purposes|||||Committee|
||||Timothy Parker,|Chair|||||
||||Louise Verrill (resigned
17December||||2021)||
|Company|registered||||||||
|number|||09828929||||||
|Charity registered|||||||||
|number|||1165859||||||
|Registered||office|The Grange Estate||||||
||||Estate Office||||||
||||Folly Hill Farm||||||
||||Alresford||||||
||||Itchen Stoke||||||
||||SO249TF||||||
|Independent||auditors|WR Partners||||||
||||Chartered
Accountants||||||
||||Belmont House||||||
||||Shrewsbury
Business Park||||||
||||Shrewsbury||||||
||||Shropshire||||||
||||SY2 6LG||||||
|Key management|||Michael Chance,|Artistic Director||and|Chief Executive Officer||
|personnel|||Michael
Moody,|Chief Operations||Officer|||
||||Rachel Pearson,|Development|Officer||||
||||Annabel
Ross, Finance Manager||||||
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||||||Unrestricted|Total|Total|
|---|---|---|---|---|---|---|---|
||||||funds|funds|funds|
||||||2021|2021|2020|
|||||Note|F|F||
|Income from:||||||||
|Donations
and|legacies||||1,419,642|1,419,642|2,087,441|
|Charitable
activities|||||1,027,284|1,027,284|305,644|
|Investments|||||121|121|481|
|Other income|||||154,583|154,583|68,900|
|Total income|||||2,601,630|2,601,630|2,453,466|
|Expenditure
on:||||||||
|Raising funds||||8|69,030|69,030|66,790|
|Charitable
activities|||||3,199,448|3,199,448|1,483,301|
|Total expenditure|||||3,268,478|3,268,478|1,550,091|
|Net (expenditure)/income|||before net losses on|||||
|investments|||||(666,848)|(666,848)|913,375|
|Net losses on|investments||||||(792)|
|Net movement|in funds||||(666,848)|(666,848)|912,583|
|Reconciliation|offunds:|||||||
|Total funds brought||forward|||2,151,177|2,151,177|1,238,594|
|Net movement|in funds||||(666,848)|(666,848)|912,583|
|Total funds carried forward|||||1,484,329|1,484,329|2,151,177|
##
|||||||2021||2020|
|---|---|---|---|---|---|---|---|---|
|||||Note||6|||
|Fixed assets|||||||||
|Tangible assets||||13||1,609,622||822,812|
|Investments||||14||||7,757|
|||||||1,609,622||830,569|
|Current assets|||||||||
|Stocks||||15|1,179||1,179||
|Debtors||||16|533,492||200,252||
|Cash at bank and|in hand||||197,898||1,662,499||
||||||732,569||1,863,930||
|Creditors: amounts|falling||due within one||||||
|year||||17|(831,267)||(477,727)||
|Net current
liabilities||Iassets||||(98,698)||1,386,203|
|Total assets less|current||liabilities|||1,510,924||2,216,772|
|Creditors: amounts|falling||due after more||||||
|than one year||||18||(26,595)||(65,595)|
|||||||1,484,329||2,151,177|
|Total net assets||||||1,484,329||2,151,177|
##
||||2021|2020|
|---|---|---|---|---|
|||Note|E||
|Charity funds|||||
|Restricted|funds|19|||
|Unrestricted|funds|19|1,484,329|2,151,177|
|Total funds|||1,484,329|2,151,177|
##
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||||STATEMENT OF CASH FLOWS||||
|---|---|---|---|---|---|---|
|||FOR THE YEAR ENDED 30SEPTEMBER||2021|||
||||||2021|2020|
|||||Note|6||
|Cash flows from operating||activities|||||
|Net cash|used
in operating|activities||22|(579,855)|1,394,671|
|Cash flows from investing||activities|||||
|Purchase|oftangible fixed assets||||(884,746)|(229,612)|
|Net cash|used in investing|activities|||(884,746)|(229,612)|
|Change|in cash and cash|equivalents|in the year||(1,464,601)|1,165,059|
|Cash and|cash equivalents|at the beginning
ofthe year|||1,662,499|497,440|
|Cash and cash equivalents||at the end ofthe year||23|197,898|1,662,499|
|The notes on pages 21 to39form part|||ofthese financial statements||||
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|||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|
|||funds|funds|funds|funds|
|||2021
6|2021
6|2021
6|2020f|
|Donations||||||
|Trust donations||103,000||103,000|50,000|
|Gift aid||239,594||239,594|222,898|
|Ticket donations||454,182||454,182|15,736|
|Friends donations||198,884||198,884|292,183|
|Competition|donations||||4,774|
|Other donations||173,247||173,247|779,524|
|Subtotal detailed disclosure||1,168,907||1,168,907|1,365,115|
|Legacies|||||623,170|
|Theatre tax|relief|250,735||250,735|99,156|
|Subtotal||250,735||250,735|722,326|
|||1,419,642||1,419,642|2,087,441|
|Total 2020||2,082,667|4,774|2,087,441||
##
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||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|
||||2021|2021|2021|2020|
||||6|8|8||
|Ticket income|||559,409||559,409|21,434|
|Event income||||||165,616|
|Support income|||25,500||25,500|9,000|
|Advertisement|income||9,250||9,250||
|Pavilion
and marquee||income|47,551||47,551||
|Restaurant
and|bar income||213,829||213,829||
|Programme
sales|||23,415||23,415||
|Education
programme|||31,297||31,297|47,055|
|Shop sales|||23,528||23,528||
|Other income|||81,505||81,505|40,543|
|Various fund income|||12,000||12,000|22,996|
|Total 2021|||1,027,284||1,027,284|306,644|
|Total 2020|||303,590|3,054|306,644||
##
|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2021
5|2021
5|2020f|
|Bank|interest|121|121|461|
|Total|2020|461|461||
##
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|7.|Other incoming|Other incoming|resources||||
|---|---|---|---|---|---|---|
|||||Unrestricted|Total|Total|
|||||funds|funds|funds|
|||||2021|2021|2020|
|||||8|8||
||Sponsorship|Income||154,583|154,583|68,900|
||Total 2020|||68,900|68,900||
|8.|Expenditure|on raising funds||||
|---|---|---|---|---|---|
||Fundraising|trading expenses||||
||||Unrestricted|Total|Total|
||||funds|funds|funds|
||||2021|2021|2020|
||||8|8||
||Fundraising|expenses|69,030|69,030|66,790|
||Total 2020||66,790|66,790||
|||Activities||||
|---|---|---|---|---|---|
|||undertaken|Support|Total|Total|
|||directly|costs|funds|funds|
|||2021
8|2021
8|2021
8|2020f|
|Ticket|income|2,387,850|811,598|3,199,448|1,483,301|
|Total|2020|601,956|881,345|1,483,301||
##
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||||Total|Total|
|---|---|---|---|---|
|||Direct Costs|funds|funds|
|||2021|2021|2020|
|||6|6||
|Accommodation||50,627|50,627|17,183|
|Costumes, sets, props||298,707|298,707|226,794|
|Depreciation||84,952|84,952|66,038|
|Directors and choregraphers||118,969|118,969|47,493|
|Education||47,123|47,123|15,952|
|Festival travel and transport||13,875|13,875|6,116|
|Licence fees||29,778|29,778||
|Lighting
and|sound|75,926|75,926|9,918|
|Model expenses||5,651|5,651|2,250|
|Orchestra||217,895|217,895|11,729|
|Performance|refreshments|3,292|3,292||
|Production
teams||57,746|57,746|9,266|
|Toilet hire||26,687|26,687|800|
|Rehearsals||32,497|32,497|7,083|
|Restaurant|and bar costs|184,295|184,295||
|Singers and|conductors|642,853|642,853|48,547|
|Singing competition||||51,261|
|Site costs||258,247|258,247|61,766|
|Staff costs||58,743|58,743|48|
|Stage and technical staff||179,987|179,987|19,712|
|||2,387,850|2,387,850|601,956|
|Total 2020||601,956|601,956||
##
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||||Support|Total|Total|
|---|---|---|---|---|---|
||||costs|funds|funds|
||||2021|2021|2020|
||||6|6||
|Administrative|expenses||15,991|15,991|22,560|
|Advertising|||29,718|29,718|24,998|
|Bank charges|||19,234|19,234|14,918|
|Depreciation|||12,984|12,984|3,264|
|Event expenditure|||624|624|35,856|
|Exgratia payments|||||121,223|
|Feasability
study|||||12,129|
|Freelance costs|||242,115|242,115|244,375|
|Governance
costs|||40,241|40,241|11,740|
|Insurance|||37,316|37,316|31,096|
|ITcosts|||39,315|39,315|32,767|
|Legal fees|||||5,000|
|Literature
and|brochures||34,500|34,500|44,500|
|Party and promotion||costs|10,580|10,580|13,779|
|Photography|||27,955|27,955|1,713|
|Printing,
postage and||stationery|33,231|33,231|31,652|
|Programme
costs|||35,076|35,076|3,764|
|Rent and rates|||11,000|11,000|9,000|
|Staff costs|||209,181|209,181|198,074|
|Telephone
and|fax||5,904|5,904|4,021|
|Travel costs|||6,633|6,633|14,916|
||||811,598|811,598|881,345|
|Total 2020|||881,345|881,345||
##
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||||||2021|2020|
|---|---|---|---|---|---|---|
||||||6|E|
||Auditors
remuneration||-audit||6,700|6,400|
||Auditors
remuneration||-other services||3,250|3,150|
||Depreciation||||97,936|69,302|
||Operating
lease payments||||3,580|1,140|
||||||111,466|79,992|
|11.|Staffcosts||||||
||||||2021f|2020f|
||Wages and|salaries|||247,734|178,989|
||Social security costs||||15,916|14,806|
||Contribution|to defined|contribution|pension schemes|4,274|4,327|
||||||267,924|198,122|
||2021|2020|
|---|---|---|
||No.|No.|
|Administration|12||
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||Fixtures and|Computer|Other fixed||
|---|---|---|---|---|
||fittings|equipment|assets|Total|
||6|6|F|6|
|Cost|||||
|At 1 October 2020|977,731|37,674|7,470|1,022,875|
|Additions|9,585|45,000|830,161|884,746|
|At 30 September 2021|987,316|82,674|837,631|1,907,621|
|Depreciation|||||
|At 1 October 2020|189,195|10,750|118|200,063|
|Charge for the year|75,353|12,984|9,599|97,936|
|At 30 September 2021|264,548|23,734|9,717|297,999|
|Net book value|||||
|At 30 September 2021|722,768|58,940|827,914|1,609,622|
|At 30September 2020|788,536|26,924|7,352|822,812|
##
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|||||Listed|
|---|---|---|---|---|
|||||investments|
|||||6|
||At 1 October|2020||7,757|
||Additions|||4,080|
||Disposals|||(11,837)|
||Net book value||||
||At 30 September 2021||||
||At 30September 2020|||7,757|
|15.|Stocks||||
||||2021
K|2020f|
||Shop bags||1,179|1,179|
|16.|Debtors||||
||||2021
6|2020f|
||Due within one year||||
||Trade debtors||115,951||
||Other debtors||108,004|40,894|
||Prepayments|and accrued income|58,802|61,128|
||Tax recoverable||250,735|98,230|
||||533,492|200,252|
##
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|||||||2021
6|2020f|
|---|---|---|---|---|---|---|---|
|Otherloans||||||39,000||
|Trade creditors||||||387,522|18,680|
|Other taxation||and||social security||7,778|4,176|
|Other creditors||||||5,088|879|
|Accruals||||||99,257|59,734|
|Deferred|income|||||292,622|394,258|
|||||||831,267|477,727|
|||||||2021|2020|
|||||||6||
|Deferred|income|||||||
|Deferred|income at|||1 October 2020||394,258|146,927|
|Resources deferred||||during the year||292,622|394,258|
|Amounts|released||from previous||periods|(394,258)|(146,927)|
|||||||292,622|394,258|
##
||2021|2020|
|---|---|---|
||6||
|Otherloans|26,595|65,595|
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##
||||||||Balance at|
|---|---|---|---|---|---|---|---|
||||Balance at 1||||30|
||||October|||Transfers|September|
||||2020f|Income
f|Expenditure
6|in/out
6|2021
6|
|Unrestricted|funds|||||||
|Designated|funds|||||||
|Education
Programme|||83,024|95,880|(143,904)||35,000|
|2021 Festival|||350,000||(350,000)|||
|Capital Project|||786,036|20,000||(806,036)||
||||1,219,060|115,880|(493,904)|(806,036)|35,000|
|General funds||||||||
|General Funds - all||funds|109,305|2,485,750|(2,676,638)|(78,710)|(160,293)|
|Fixed Assets|||822,812||(97,936)|884,746|1,609,622|
||||932,117|2,485,750|(2,774,574)|806,036|1,449,329|
|Total Unrestricted||funds|2,151,177|2,601,630|(3,268,478)||1,484,329|
##
##
|Statement
offund|s - prior year||||||
|---|---|---|---|---|---|---|
|||||||Balance at|
||Balance at|||||30|
||1 October|||Transfers|Gainsl|September|
||2019|income|Expenditure|inlout|(Losses)|2020|
|Unrestricted|||||||
|funds|||||||
|Designated|||||||
|funds|||||||
|Education|||||||
|Programme|56,933|53,860|(15,952)|(11,817)||83,024|
|2021 Festival||||350,000||350,000|
|Capital Project||||786,036||786,036|
||56,933|53,860|(15,952)|1,124,219||1,219,060|
|General funds|||||||
|General Funds-|||||||
|all funds|487,543|2,401,778|(1,413,576)|(1,365,648)|(T92)|109,305|
|Fixed Assets|662,502||(69,302)|229,612||822,812|
||1,150,045|2,401,778|(1,482,878)|(1,136,036)|(792)|932,117|
|Total|||||||
|Unrestricted|||||||
|funds|1,206,978|2,455,638|(1,498,830)|(11,817)|(T92)|2,151,177|
|Restricted|||||||
|funds|||||||
|Singing|||||||
|Competition|31,616|7,828|(51,261)|11,817|||
|Total offunds|1,238,594|2,463,466|(1,550,091)||(792)|2,151,177|
##
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|Analysis ofnet assets between funds - current year|||
|---|---|---|
||Unrestricted|Total|
||funds|funds|
||2021|2021|
||6|6|
|Tangible fixed assets|1,609,622|1,609,622|
|Current assets|732,569|732,569|
|Creditors due within one year|(831,267)|(831,267)|
|Creditors due in more than one year|(26,595)|(26,595)|
|Total|1,484,329|1,484,329|
##
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|Analysis ofnet assets between funds - prior year|||
|---|---|---|
||Unrestricted|Total|
||funds|funds|
||2020|2020|
|Tangible fixed assets|822,812|822,812|
|Fixed asset investments|7,757|7,757|
|Current assets|1,863,930|1,863,930|
|Creditors due within one year|(477,727)|(477,727)|
|Creditors due in more than one year|(65,595)|(65,595)|
|Tl|2,151,177|2,151,177|
|22.|Reconciliation
of net|Reconciliation
of net|movement|movement|in funds|in funds|to|net|cash flow|from operating|activities||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||2021|2020|
||||||||||||6||
||Net
income/expenditure||for|the|year|(as||per|Statement|of Financial|||
||Activities)||||||||||(666,848)|912,583|
||Adjustments
for:||||||||||||
||Depreciation
charges||||||||||97,937|69,302|
||Fixed asset Investment||additions||(donated)||||||(4,080)|(3,992)|
||Gains on investments|||||||||||792|
||Disposal offixed asset||investments||||||||11,837||
||Decrease/(increase)|in|debtors||||||||(236,217)|189,749|
||Increase
in creditors||||||||||217,516|199,642|
||Increase/(decrease)|in|loans|||||||||26,595|
||Net cash provided|by/(used||in)|operating||activities||||(579,855)|1,394,571|
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