2022-09-30-accounts

					Page
Reference and Administrative		Details ofthe Charitable	Company,	ils 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					18-18
Statement ofCash Flows					20
Notes to the Financial	Statements				21-40

REFERENCE AND	REFERENCE AND	REFERENCE AND	ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY, ITSTRUSTEES AND	ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY, ITSTRUSTEES AND	ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY, ITSTRUSTEES AND
				ADVISERS
			FOR THE YEAR	ENDED 30SEPTEMBER2022
Trustees			Nicholas Allan
			Lord Mark Ashburton
			Daniel Benton
			Rosamund Bernays
			Caroline Greenhalgh	(appointed 20 April 2022)
			Sophie Caruth (resigned 12August 2022)
			Malcolm Le May
			Richard Morse (resigned 4 October 2022)
			Timothy Parker, Chair
			Marie Verrill (resigned	17December 2021)
Company	registered
number			09828929
Charity registered
number			1185859
Registered		office	The Grange Estate
			Estate Oflice
			Folly Hill Farm
			Alresford
			Itchen Stoke
			SO249TF
Independent		auditors	WR Partners
			Chartered Accountants
			Belmont House
			Shrewsbury Business	Park
			Shrewsbury
			Shropshire
			SY26LG
Key management			Michael Chance, Artistic Director and Chief Executive OIffcer
personnel			Michael Moody, Chief	Operations	Officer
			Rachel Pearson, Development Officer
			Annabel Ross, Finance Manager

			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
		Note	2022 f	2022 6	2022 E	2021
Income from:
Donations and legacies			2,280,024	55,000	2,335,024	1,419,642
Charitable activities			1,527,371		1,527,371	1,027,284
Investments			91		91	121
Other income			97,500		97,500	154,583
Total Income			3,904,986	66,000	3,959,986	2,601,630
Expenditure on:
Raising funds		8	69,600	~	69,600	69,030
Charitable activities			3,564,983		3,564,983	3,199,448
Total expenditure			3,634,583		3,634,583	3,258,478
Net income/(expenditure)			270,403	55,000	325,403	(555,848)
Transfers between funds		18	55,000	(55,000)
Net movement in funds			325,403		325,403	(665,848)
Reconciliation offunds:
Total funds brought	forward		1,484,329		1,484,329	2151,177
Net movement in funds			325,403		325,403	(688,848)
Total funds carried	forward		1,809,732		1,809,732	1,484,329

					2022		2021
			Note				5
Fixed assets
Tangible assets			13		1,599,922		1,609,622
					1,599,922		1,609,622
Current assets
Stocks			14			1,179
Debtors			15	744,062		533,492
Cash at bank and in hand				108,598		197,896
				852,760		732,569
Creditors: amounts	falling	due within one
year			16	(580,950)		(831,267)
Net current assets 1liabilites					271,810		(ge,ege)
Total assets less	current	liabilities			1,871,'732		1,510,924
Creditors: amounts	falling	due aRer more
than one year			17		(62,000)		(26,595)
					1,809,732		1,484,329
Total net assets					1,809,732		1,484,329

					2022	2021
				Note	F
Cash flows from operating	activities
Net cash used in operating	activities			21	55,624	(579,855)
Cash flows from investing	activities
Purchase oftangible fixed assets					(144,824)	(664,746)
Net cash used in investing	activities				(144,824)	(884,746)
Change in cash and cash	equivalents	in	the year		(89,200)	(1,464,601)
Cash and cash equivalents	at the beginning		ofthe year		187,888	1,662,499
Cash and cash equivalents	at the end	of	the year	22	108,688	197,898
The notes on pages 21 to 40 form part ofthese financial statements

	Unrestricted	Restricted	Total	Total
	funds	funds	funds	funds
	2022	2022	2022	2021
	6	5	5
Donations
Trust donations	2,500	55,000	57,500	103,000
Gift aid	253,506		253,506	239,594
Ticket donations	524,253		524,253	454,182
Friends donations	263,372		263,372	198,884
Other donations	261,368		261,368	173,247
Subtotal detailed disclosure	1,304,999	55,000	1,359,999	1,168,907
Legacies	2,500		2,500
Grants	350,000		350,000
Theatre Tax Relief	622,525		622,525	250,735
Subtotal	975,025		975,025	250,735
	2,280,024	55,000	2,335,024	1,419,542
Total 2021	1,419,542		1,419,642

						Unrestricted	Total	Total
						funds	funds	funds
						2022 6	2022 6	2021f
	Ticket income					622,436	622,436	559,409
	Support income					24,144	24,144	25,500
	Advertisement			income		19,675	19,675	9,250
	Pavilion and		marquee		income	46,869	46,869	47,551
	Restaurant	and		bar income		282,601	282,601	213,829
	Programme		sales			26,900	26,900	23,415
	Education	programme				35,041	35,041	31,297
	Shop sales					44,585	44,585	23,528
	Other income					77,934	77,934	81,505
	Various fund		income			347,186	347,186	12,000
	Total 2022					1,527,371	1,527,371	1,027,284
	Total 2021					1,027,284	1,027,284
6.	Investment		income
						Unrestricted	Total	Total
						funds	funds	funds
						2022	2022	2021
						6	6	8
	Bank interest
	Total 2021					121	121

Sponsorship	Income	97,500	97,500	154,583
Total 2021		154,583	154,583
Expenditure	on raising funds
Fundraising	trading expenses
		Unrestricted	Total	Total
		funds	funds	funds
		2022	2022	2021
		6	6
Fundraising	expenses	69,600	69,600	69,030
Total 2021		69,030	69,030

				Activities
				undertaken	Support	Total	Total
				directly	costs	funds	funds
				2022f	2022	2022 6	2021f
Direct	and	support	costs	2,681,754	883,229	3,564,983	3,199,448
Total	2021			2425,471	773,977	3,199,448

		Total	Total
	Direct costs	funds	funds
	2022 6	2022f	2021f
Staff costs	71,330	71,330	58,743
Depreciation	141,467	141,467	84,952
Singers and conductors	687,724	687,724	642,853
Licence fees	4,000	4,000	29,778
Directors and choregraphers	129,639	129,639	118,989
Model expenses	5,778	5,778	5,851
Festival travel and transport	26,443	26,443	13,875
Production teams	30,703	30,703	57,746
Orchestra	230,203	230,203	217,895
Stage and technical staff	160,767	180,767	179,987
Restaurant and bar costs	232,411	232,411	184,919
Rehearsal Rooms	35,106	35,106	32,497
Toilet hire	30,932	30,932	26,687
Costumes, sets, props	452,607	452,607	298,707
Lighting and sound	51,900	51,900	75,926
Site costs	145,304	145,304	258,247
Accomodation	55,030	55,030	50,827
Singing competition	7,500	7,500
Performance refreshments	6,609	6,809	3,292
Theatre refurbishment	16,761	16,761
Education	62,626	62,626	47,123
Art and shop purchases	34,714	34,714	20,387
Fees payable under lease	62,200	62,200	16,610
	2,681,754	2,681,754	2,425,471
Total 2021	2,425,471	2,425,471

				Support	Total	Total
				costs	funds	funds
				2022	2022	2021f
Staff costs				249,946	249,946	209,181
Depreciation				13,057	13,057	12,984
Temporary	staff			11,147	11,147
Advertising				3,738	3,738	13,108
Literature and		brochures		34,254	34,254	34,500
Photography				1,688	1,688	27,955
Party and promotion			costs	27,501	27,501	10,580
Freelance costs				279,411	279,411	242,115
Insurance				54,115	54,115	37,316
Travel costs				13,697	13,697	6,533
Printing, postage, stationary				33,888	33,888	12,844
Administrative		expenses		23,923	23,923	15,991
Telephone	and	fax		4,286	4,286	5,904
IT costs				35,478	35,478	39,315
Bank charges				23,339	23,339	19,234
Rent and rates				18,000	18,000	'l1,000
Programme	costs			36,606	36,606	35,076
Governance	costs			19,155	19,155	40,241
				883,229	883,229	773,977
Total 2021				773,977	773,977

				2022 F.	2021f
Auditors remuneration		- audit		7,375	6,700
Auditors remuneration		- other services		3,575	3,250
Depreciation				154,524	97,935
Operating lease payments				3,129	3,580
				168,603	111,455
Staff costs
				2022	2021
				6
Wages and	salaries			296,037	247,734
Social security costs				20,350	15,916
Contribution	to defined	contribution	pension schemes	4,889	4,274
				321,276	267,924

	2022	2021
	No.	No.
Administration	14	12

		Fixtures and	Computer	Other fixed
		fittings	equipment	assets	Total
			6	6	8
	Cost
	At 1 October 2021	987,316	82,674	837,631	1,907,621
	Additions	117,237	10,025	17,562	144,824
	At 30September 2022	1,104,553	92,699	855,193	2,052,445
	Depreciation
	At 1 October 2021	264,548	23,734	9,717	297,999
	Charge for the year	84,900	13,057	56,567	154,524
	At 30 September 2022	349,448	36,791	66,284	452,523
	Net book value
	At 30 September 2022	755,105	55,908	788,909	1,599,922
	At 30September 2021	722,768	58,940	827,914	1,609,622
14.	Stocks
				2022	202'I
				6
	Shop bags				1,179

		2022	2021
		6
Due within one year
Trade debtors		23,585	115,951
Other debtors		76,221	108,004
Prepayments	and accrued income	21,731	58,802
Tax recoverable		622,525	250,735
		744,062	533,492

						2022	2021
						6
Other loans						26,595	39,000
Trade creditors						172,784	387,522
Other taxation		and		social security		6,380	7,778
Other creditors						5,496	5,088
Accruals						150,461	99,257
Deferred	income					219,234	292,822
						680,950	831,287
						2022 6	2021 f
Deferred	income
Deferred	income at			1 October 2021		292,622	394,258
Resources deferred				during the year		219,234	292,822
Amounts	released		from previous		periods	(282,622)	(394,258)
						219,234	292,622

2022	2021
6
62,000	26,595

Statement offunds	- current	year
						Balance at
		Balance at 1				30
		October			Transfers	September
		2021	Income	Expenditure	in/out	2022
		6	6	E	6	6
Unrestricted funds
Designated funds
Education Programme		35,000	92,541	(87,514)		40,027
General funds
General Funds - all	funds	(160,293)	3,812,445	(3,392,645)	(89,824)	169,783
Fixed Assets		1,609,622		(154,624)	144,824	1,699,922
		1,449,329	3,812,445	(3,547,069)	55,000	1,769,705
Total Unrestricted	funds	1,484,329	3,904,986	(3,634,883)	55,000	1,809,732
Restricted funds
Fixed assets			55,000		(55,000)
Total offunds		1,484,329	3,959,986	(3,634,583)		1,809,732

Statement o	ffunds	- prior ye	ar
							Balance at
			Balance at				30
			1 October			Transfers	September
			2020	Income	Expenditure	in/out	2021
				6			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)	806,038	1,449,329
Total Unrestricted		funds	2,151,177	2,601,630	(3,268,478)		1,484,329

Analysis	of net assets between funds - current year
		Unrestricted	Total
		funds	funds
		2022	2022
		8	6
Tangible	fixed assets	1,599,922	1,599,922
Current assets		852,760	852,760
Creditors	due within one year	(580,950)	(580,950)
Creditors	due in more than one year	(62,000)	(62,000)
Total		1,809,732	1,809,732

Analysis	ofnet assets between funds - prior year
		Unrestricted	Total
		funds	funds
		2021f	2021f
Tangible	fixed assets	1,609,S22	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)
Tl		1,484,329	1,484,329

21.	Reconcili	ation ofnet	mo	vem	ent	in fun	ds	to	net	cash flow	from	operating	activities
													2022f	2021
	Net income/expenditure			for	the	year	(as		per	Statement	of	Financial
	Activities)												325,403	(566,848)
	Adjustments for:
	Depreciation charges												154,524	97,937
	Fixed asset Investment		additions			(donated)								(4,080)
	Disposal	offixed asset	investments											11,837
	Decrease	in stocks											1,1'79
	Increase	in debtors											(210,570)	(236,217)
	Increase/(decrease) in		creditors										(214,912)	2/ 7,516
	Net cash	provided by/(used			in)	operating		activities					55,624	(579,855)
22.	Analysis	ofcash and	cash		equivalents
													2022f	2021
	Cash in hand												108,698	/97,898
	Total cash and cash		equivalents										108,698	197,898
23.	Analysis	ofchanges	In	net	debt
												At 1		At 30
												October		September
												2021	Cash flowsf	2022f
	Cash at bank and in hand											197,898	(89,200)	108,698
	Debt due	within 1 year										(39,000)	12,405	(26,595)
	Debt due	after 1 year										(26,595)	(35,405)	(62,000)
												132,303	(112,200)	20,103