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||||||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|||
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||||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|
##
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||||||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|
##
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||||||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|||||||
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||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||
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|||||||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||
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||||||
|---|---|---|---|---|
|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||
##
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|||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||
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|||||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||
##
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|||||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|
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|||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|
##
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|||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|
##
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|||||||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|
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|2022|2021|
|---|---|
|6||
|62,000|26,595|
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|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|
##
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##
|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|
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|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|
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|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|
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