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2022-06-30-accounts

Charity no. 1177812

The Wardrobe Theatre Report and Unaudited Financial Statements

30 June 2022

The Wardrobe Theatre

Reference and administrative details

For theyear ended 30 June 2022 For theyear ended 30 June 2022
Charity number 1177812
Registered office and 25 West Street
operational address St. Phillips
Bristol
BS2 0DF
Trustees The trustees are who served during the year and up to the date of
this report were as follows:
Donnell Asare appointed 1 February 2022
Christopher Askew
Kerry Francis
Miriam Gosling-Gage
Joe Hill appointed 1 February 2022
Naomi Miller Co-Chair
Alastair Robertson
Phillipa Warin Co-Chair
Graham Young Treasurer
Independent examiners Godfrey Wilson Limited
Chartered accountants and statutory auditors
5th Floor Mariner House
62 Prince Street
Bristol
BS1 4QD

1

The Wardrobe Theatre

Report of the trustees

For the year ended 30 June 2022

The trustees present their report and financial statements for the year ended 30 June 2022.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the Constitution and the Statement of Recommended Practice - Accounting and Reporting by Charities (effective from January 2019).

Governing document

The Wardrobe Theatre is a charitable incorporated organisation (charity number 1177812), registered with the Charity Commission on 4 April 2018. The charity's governing document is its constitution, dated 4 April 2018.

Purpose and activities

The charity's objects, as set out in its governing document, are the advancement of the arts and the education of the public in the appreciation and understanding of the arts in all their forms, through the operation, facilitation and management of The Wardrobe Theatre for the public benefit, taking place in particular, but not exclusively in, the City of Bristol and surrounding areas.

The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives for the year.

The 4 core aims of The Wardrobe Theatre as laid out by the board of trustees this year are:

Achievements and performance

This has been a year of recovery for The Wardrobe Theatre as we build back after the Covid-19 pandemic. July-August 2021 we welcomed back live audiences after 7 months of lockdown with a soft reopening that saw a socially-distanced, limited capacity auditorium, a one-way system around the building, a new drinks ordering app and a new entrance/exit to the theatre through our stage door. Having the theatre back open to the public after such a difficult 18 months felt like a huge achievement. September 2021 we started staging shows nightly again for the first time since March 2020 and crept audience capacity up to 70% before returning to full houses from October 2021. The winter Omicron wave with high rates of infection for audiences and artists forced several shows over these months to be cancelled and at its peak, every successful performance felt like a minor miracle but the threat of a full lockdown never came to pass and we were able to continue staging shows without too much disruption. February-June 2022 the theatre felt much closer to pre-covid normality with a positive and uninterrupted run of shows with good audiences, putting us on some firm footing for next year.

2

The Wardrobe Theatre

Report of the trustees

For the year ended 30 June 2022

In May 2022 we submitted an application to Arts Council England to join the National Portfolio of Organisations for the first time with the hope of securing significant funding for 2023-2026. Simply applying was a significant achievement and big step forward for the theatre.

This year our digital theatre production Sherlock In Homes (co-created with Sharp Teeth Theatre) was shortlisted for the Digital Culture Awards 2022 and we were nominated as the Best Arts Organisation in Bristol at the Bristol Life Awards 2022.

Artistic programme

This financial year a total of 22,384 audience members came to see a live show at The Wardrobe Theatre, a further 572 attended our live events on tour and 2,656 watching our shows online. Therefore, our total audience this year was 25,612.

Across the year, within the venue we presented a total of 330 live performances and hosting 107 visiting companies, a mix of Bristol-based and UK artists. Particular highlights this year included:

Between August-October 2021 we were also a key partner in supporting The Theatre On The Downs. We helped Bristol theatre company and long-term collaborators The Wardrobe Ensemble to build, programme and operate a new pop-up venue on the Clifton Downs and run a festival of performances over the summer hosting 34 theatre companies/artists and attracting a total live audience of 6,578.

Work shown at the venue chiefly included theatre (devised work, storytelling, improvisation and new writing), secondary to that stand-up comedy, then live music and poetry/spoken word. Family audiences remained a core pillar of The Wardrobe Theatre’s work and when possible we presented family shows during school holidays and on weekends. This year we presented a total of 37 family performances to a total audience of 2,817.

3

The Wardrobe Theatre

Report of the trustees

For the year ended 30 June 2022

The average ticket price at The Wardrobe Theatre this year was £11.27, much lower than other performing arts venues in the region. Financial accessibility remains a core ethos of the way we work and affordable ticket prices have helped us recover fast from the pandemic, achieve good audience attendance throughout the year and helped us have great success in continuing to attract a youngadult audience.

In-house and co-productions

During this year, 2 new in-house productions/co-productions were created and 2 existing Wardrobe Theatre productions/co-productions was staged and/or toured:

4

The Wardrobe Theatre

Report of the trustees

For the year ended 30 June 2022

Creative development

Artist development and supporting Bristol-based, emerging theatre-makers remained a high priority for The Wardrobe Theatre this year. Following Covid-19 and one of the arts industry’s most challenging years we continued to be in regular dialogue with other theatres, festivals, venues and arts organisations, offering one-to-one support and mentoring wherever possible to help protect these institutions and build a stronger sector. The Wardrobe Theatre and our staff also continued to be on hand to offer extensive in-kind support, advice, guidance and mentoring to many artists, companies and theatre-makers during this very difficult year.

Despite the challenges, we were still able to work with artists and theatre companies to offer a string of artist development workshops this year, including: Autobiographical Songwriting with Brook Tate; Poetry & Story Writing with Saili Katebe; Finding Your Drag King with Manly Mannington & Pocket Rocket; Creating Your Own Work Based On Personal Experience with Lucy Danser; and Making Theatre From Scratch with Hannah Moss. Total attendance at these workshops was 53.

During the year we also offered free or affordable rehearsal and workshop space to theatre companies in Bristol including: Riddlestick Theatre, Kiota, Roustabout Theatre, The Wardrobe Ensemble, Closer Each Day Company, Circus City, Sharp Teeth Theatre, Opposable Thumb, Danny Prosser & Rachael Clerke, On The Run Theatre, Lash Stackers, Wassail Theatre, Compass Presents, Peter Clifford, Bristol Old Vic Theatre School, Impromptu Shakespeare, Milk Poetry, Tessa Bide and emerging film-maker, Jon Holmes. We also hosted an Artist-led NPO Discussion Panel, presented by Theatre Bristol, with Action Hero and Wise Children.

Through our partnership work with The Wardrobe Ensemble on The Theatre On The Downs, 2 new productions were commissioned, including Birthmarked by Brook Tate which subsequently got developed into a main house production at Bristol Old Vic for Mayfest 2022.

Participation and audience development

Participation

Our participation programme remains a key element of The Wardrobe Theatre’s work although the opportunities we were able to offer this year were limited as we recovered from Covid-19. However some highlights this year included sharing our theatre film of The Great Gatsby for free with 45 schools, colleges and universities, some of which (including Bradley Stoke Community School) also came to see the show live. In collaboration with The Wardrobe Ensemble we also developed 2 new workshops to run alongside The Great Gatsby as it was on tour and held 4 sessions in Oxford and Plymouth with participants watching the live show afterwards. Feedback from a Drama Teacher: “What a delightful show, richly layered and imaginative storytelling. I absolutely loved it. So much for us to discuss with our pupils.” We also created and shared a high-quality Education Resource Pack for The Great Gatsby aimed at GCSE & A-Level students.

This year we also forged a new partnership with our most immediate Primary School, Hannah More, and now give tours of our theatre for their students (aged 5-8) every 6 months, most of whom have never been to a theatre before.

5

The Wardrobe Theatre

Report of the trustees

For the year ended 30 June 2022

Audience development

One of the major challenges for the entire arts sector post Covid-19 has been attracting live audience back to theatres with overall audience attendance down 20-25% on pre-covid levels. The Wardrobe Theatre has been no different. Our major focus this year therefore has been working hard to ensure previous audiences return and to encourage new audiences. Safety was identified as the main contribution factor to an audiences’ visit to the theatre this year. Our staff worked incredibly hard during our reopening to create detailed risk assessments, one-way systems and a new, safer entrance/exit through our stage door and we carefully managed the capacity of the auditorium to relax social distancing gradually as audience confidence rose. Audiences were closely consulted during these months to better understand their concerns with our plans adapted in response. Ultimately this strategy proved successful as audiences returned quicker to our theatre then they have done for other arts venues in Bristol and the UK and we have been able to start bucking that trend of a 20-25% drop in ticket sales.

As an arts charity, we have a duty to find new ways of creating art and enabling people to access it. By utilising technology, The Wardrobe Theatre pioneered a new way of making and sharing live theatre with our Sherlock In Homes series and this year we commissioned the third show in the series, reaching 1,600 people. We were thrilled to offer audiences an entertaining and meaningful connection, at a time when many were still hesitant about visiting live theatre venues.

Diversity and inclusion

One of the key goals of The Wardrobe Theatre is to broaden the diversity of the people we work with, our audience, our participants and our visitors. This year, in collaboration with our board of trustees and in light of the Black Lives Matter movement, our theatre staff and board took part in regular inclusion and diversity training sessions with topics including privilege, racism, disability/ableism and class, facilitated by our Theatre Manager, Aisha Ali, and with guest speakers. The learnings and outcomes of this training and our inclusivity action plan continue to be developed and actioned and we continue to widen our knowledge and understanding about the types of barriers communities can face in accessing culture.

This year we worked closely with Bristol charity Rising Arts to improve the diversity of the voices and trustees of our board. We successfully recruited 2 young people from diverse backgrounds who joined the board in February 2022.

We see our expansion into digital culture as a long-term addition to our programme, allowing us to increase our accessibility by bringing culture to those unable to attend live events due to mobility issues, anxiety, financial restraints or those excluded by the presence of alcohol (such as Sikh communities).

Development and marketing

Funding grants

Funding and particularly the support of Arts Council England has been very important this year ensuring The Wardrobe Theatre has survived Covid-19 and enabling us to continue making, sharing and hosting work.

6

The Wardrobe Theatre

Report of the trustees

For the year ended 30 June 2022

This financial year, 4 grants were successfully awarded to The Wardrobe Theatre:

Fundraising

This financial year, public donations to The Wardrobe Theatre totalled £315.

Donations were improved by the installation of a donations card reader by the box office of the theatre, enabling audiences to quickly donate £5 just by tapping their card.

At the end of this financial year, The Wardrobe Theatre had 130 members in The Wardrobe Theatre Fan Club (our friends loyalty scheme) each donating £30/year.

Marketing

The Wardrobe Theatre maintained strong marketing strategies this financial year, supported by a solid foundation of social media followers (Twitter: 9,900+ | Facebook: 9,300+ | Instagram: 3,800+) and 4,000 email addresses on our weekly newsletter mailing list.

Staffing, structure, governance and management

Staffing

The Wardrobe Theatre’s core team of 4 staff members are passionate and dedicated with 3 of these individuals having worked at the theatre for over 9 years, instilling valuable stability and an excellent working relationship. As we recovered from Covid-19, this year the staff continued to demonstrate themselves to be incredibly adaptable, resourceful and dynamic in the face of rapidly changing circumstances, week by week fluctuations in restrictions and shifting public health guidelines.

The Wardrobe Theatre runs effectively with a skeleton team of 4, sharing the equivalent of 3 full time roles:

7

The Wardrobe Theatre

Report of the trustees

For the year ended 30 June 2022

Former co-Director and co-founder of The Wardrobe Theatre, Jesse Meadows, reduced her role significantly in the previous year to focus on Artist Development. During Covid-19 she provided key support in the theatre’s response to the pandemic. In September 2021 after having helped us relaunch, Jesse finally left The Wardrobe Theatre altogether to focus on her work with The Wardrobe Ensemble and new projects. Nothing The Wardrobe Theatre has achieved in our 11 year history would have been possible without Jesse’s constant dedication and passion and she will continue to be a close friend of the theatre.

Annual staff appraisals and check-ins were carried out for the second year between all staff member and a trustee.

Governance

The Wardrobe Theatre’s board of trustees met quarterly this year, offering invaluable insight and support in furthering the theatre’s ambitions and embedding an improved professionalisation and organisational development. We have a very strong and hands-on board who engage regularly with live productions as well as the engagement and artist development work that the theatre hosts and produces. We’re so grateful they give their time and expertise in the pursuit of something they really believe in.

This year we successfully developed and expanded our board; keen to bring in younger and more diverse voices, we worked with Bristol charity, Rising Arts, to develop our board membership. We joined their On Board scheme to recruit two exciting young people from diverse backgrounds with fresh perspectives and new lived experiences. These 2 new young trustees, Donnell Asare and Joe Hill, joined our board in February 2022 and we’re excited for them to remain as full trustees for a 3 year term.

The Wardrobe Theatre's board of trustees is made up of:

Chris Askew, Donnell Asare, Kerry Francis, Miriam Gosling-Gage, Joe Hill, Naomi Miller (co-Chair), Ali Robertson, Pippa Warin (co-Chair) and Graham Young (Treasurer).

The board has two sub-committees consisting of:

The subcommittees and our high standard of governance has been vital in the continued success of The Wardrobe Theatre during these 12 challenging months.

In March 2022 the full board and staff participated in an away day, focused on creating a new business plan for The Wardrobe Theatre in our continued recovery from Covid-19 and also in light of Arts Council England’s Let’s Create strategy of investment and our ambitions to join the National Portfolio of Organisations.

8

The Wardrobe Theatre

Report of the trustees

For the year ended 30 June 2022

Board appointments are made either through the reappointment of existing trustees at the end of their term or by recommendation by the trustees, which are then voted on by trustees and members. If running an open call for trustees, vacancies are widely published with a CV and covering letter being the process of application. Candidates will be interviewed by a team which should include the Chair and a member of the Executive. Candidates may be invited to a meeting of the trustees as an observer before being formally appointed. A trustee who has served for two consecutive terms of office must take a break from office.

Management

The Wardrobe Theatre Company is a Charitable Incorporated Organisation (CIO). The objects of the CIO are:

The advancement of the arts and the education of the public in the appreciation and understanding of performing arts in all their forms, through the operation, facilitation and management of The Wardrobe Theatre for the public benefit, taking place in particular but not exclusively in, the city of Bristol and surrounding areas. The full powers of the CIO are listed in our 2017 Constitution.

A copy of The Wardrobe Theatre’s Governing Document (Constitution, 1 November 2017) is available on request.

Financial review

For the year ended 31 June 2022, income was £325,571 (2021: £263,657 and 2020: £333,527) and expenditure was £333,667 (2021: £214,658 and 2020: £274,159), resulting in a deficit for the year of £8,096 (2021: surplus £48,999 and 2020: surplus £59,368). Total funds at 30 June 2022 were £141,500 (2021: £149,596 and 2020: £100,597). There were no restricted funds at the year end.

The charity aims to hold sufficient reserves to cover three months’ normal operating costs. Based on previous financial years and forecasts for 2022/2023, the trustees estimate this to be £53,000. At 30 June 2022, unrestricted reserves stood at £141,500, which is ahead of this target. The charity had deemed it necessary to hold reserves in excess of its target during the Covid-19 pandemic and will look to invest these in productions in future periods.

The trustees have considered the impact of the Covid-19 pandemic on the charity’s current and future financial position. The implications include an anticipated loss of theatre ticket income of 20% between July 2022 – June 2023. The charity took the following steps to mitigate the threats that Covid19 and reduced audiences may pose to the organisation:

The trustees consider that the charity will continue as a going concern for a period of at least 12 months from the date on which these financial statements are approved for the following reasons:

9

The Wardrobe Theatre

Report of the trustees

For the year ended 30 June 2022

Statement of responsibilities of the trustees

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and the incoming resources and application of resources, including the net income or expenditure, of the charity for the year. In preparing those financial statements the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the charity guarantee to contribute an amount not exceeding £10 to the assets of the charity in the event of winding up. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

Independent examiners

Godfrey Wilson Limited were re-appointed as independent examiners to the charity during the year and have expressed their willingness to continue in that capacity.

Approved by the trustees on 6 March 2023 and signed on their behalf by

Naomi Miller

Naomi Miller - Co-Chair

10

Independent examiner's report

To the trustees of

The Wardrobe Theatre

I report to the trustees on my examination of the accounts of The Wardrobe Theatre (the CIO) for the year ended 30 June 2022, which are set out on pages 12 to 24.

Responsibilities and basis of report

As the charity trustees of the CIO you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the CIO’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

Godfrey Wilson Limited also provides corporation tax services to the CIO. I confirm that as a member of the ICAEW I am subject to the FRC’s Revised Ethical Standard 2016, which I have applied with respect to these engagement.

Since the CIO’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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.

William Guy Blake

Date: 6 March 2023 William Guy Blake ACA Member of the ICAEW For and on behalf of: Godfrey Wilson Limited Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD

11

The Wardrobe Theatre

Statement of financial activities

For the year ended 30 June 2022

Restricted Unrestricted
Note
£
£
Income from:
Donations
3
32,467
55,004
Charitable activities
4
-
231,504
Other trading activities
5
-
6,596
Total income
32,467
293,104
Expenditure on:
Raising funds
-
17,158
Charitable activities
32,467
284,042
Total expenditure
7
32,467
301,200
8
-
(8,096)
Reconciliation of funds:
Total funds brought forward
-
149,596
Total funds carried forward
-
141,500
Net income / (expenditure) and net
movement in funds		 2022
Total
£
87,471
231,504
6,596
325,571
17,158
316,509
333,667
(8,096)
149,596
141,500		 2021
Total
£
158,214
103,618
1,825
263,657
12,189
202,469
214,658
48,999
100,597
149,596

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 15 to the accounts.

12

The Wardrobe Theatre

Balance sheet

As at 30 June 2022

Note
Fixed assets
Tangible assets
11
Current assets
Debtors
12
Cash at bank and in hand
Liabilities
Creditors: amounts falling due within 1 year
13
Net current assets
Net assets
14
Funds
15
Restricted funds
Unrestricted funds
General funds
Total charity funds		 £
46,351
131,626
177,977
36,477		 2022
£
-
-
141,500
141,500
-
141,500
141,500		 2021
£
413
413
27,026
153,655
180,681
31,498
149,183
149,596
-
149,596
149,596

Approved by the trustees on 6 March 2023 and signed on their behalf by

Naomi Miller

Naomi Miller - Co-Chair

13

The Wardrobe Theatre

Notes to the financial statements

For the year ended 30 June 2022

1. Accounting policies

a) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

The Wardrobe Theatre meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

b) Going concern basis of accounting

The accounts have been prepared on the assumption that the charity is able to continue as a going concern. The charity held unrestricted, general reserves of £142,496 at 30 June 2022, and a cash balance of £131,626. In light of this, the trustees consider that the charity has sufficient unrestricted reserves and cash flow to continue as a going concern for a period of at least 12 months from the date on which these financial statements are approved. For this reason, the accounts have been prepared on the going concern basis.

c) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income received in advance of provision of theatrical performances is deferred until criteria for income recognition are met.

d) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the bank.

e) Funds accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.

f) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

14

The Wardrobe Theatre

Notes to the financial statements

For the year ended 30 June 2022

1. Accounting policies (continued)

g) Allocation of support and governance costs

2022 2021
Raising funds 5% 6%
Charitable activities 95% 94%

h) Tangible fixed assets

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Fixtures, fittings and equipment 3 years

i) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

j) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

k) Creditors

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

l) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently recognised at amortised cost using the effective interest method.

m) Pension costs

The charity operates a defined contribution pension scheme for its employees. There are no further liabilities other than that already recognised in the SOFA.

n) Accounting estimates and key judgements

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

15

The Wardrobe Theatre

Notes to the financial statements

For the year ended 30 June 2022

1. Accounting policies (continued)

n) Accounting estimates and key judgements (continued)

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below.

Depreciation

As described in note 1(h) to the financial statements, depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life.

Theatre Tax Relief

The charity has estimated the credit receivable under Theatre Tax Relief based on its eligible production expenditure incurred during the period. This amount is £37,714 and is included within income from charitable activities and accrued income at the year end. As this amount is subject to review and approval by HMRC, actual results may differ.

2. Prior period comparatives: statement of financial activities

Income from:
Donations
Charitable activities
Other trading activities
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net income
Transfers between funds
Net movement in funds		 Restricted
£
£
22,972
135,242
-
103,618
-
1,825
22,972
240,685
-
12,189
16,972
185,497
16,972
197,686
6,000
42,999
(6,000)
6,000
-
48,999
Unrestricted		 2021
Total
£
158,214
103,618
1,825
263,657
12,189
202,469
214,658
48,999
-
48,999

16

The Wardrobe Theatre

Notes to the financial statements

For the year ended 30 June 2022

3. Income from donations

Grants:
Arts Council England
Bristol City Council
Grants < £500
Donations
Fan club subscriptions
Total income from donations
Prior period comparative
Grants:
West of England Combined Authority
Arts Council England
Bristol City Council
Job Retention Scheme
Donations
Fan club subscriptions
Gift Aid
Total income from donations
Income from charitable activities
Ticket sales
Theatre tax relief
Total income from charitable activities		 Restricted
£
£
29,800
50,512
2,667
-
-
400
-
315
-
3,777
32,467
55,004
Restricted
£
£
8,000
-
14,972
91,282
-
17,431
-
13,392
-
8,937
-
3,505
-
695
22,972
135,242
2022
Restricted
Total
£
£
£
-
193,790
193,790
-
37,714
37,714
-
231,504
231,504
Unrestricted
Unrestricted
Unrestricted		 2022
Total
£
80,312
2,667
400
315
3,777
87,471
2021
Total
£
8,000
106,254
17,431
13,392
8,937
3,505
695
158,214
2021
Total
£
91,209
12,409
103,618

4. Income from charitable activities

All income from charitable activities in the prior year was unrestricted.

17

The Wardrobe Theatre

Notes to the financial statements

For the year ended 30 June 2022

5. Income from other trading activities

Income from other trading activities
Restricted
£
£
Space hire
-
6,596
Total income from other trading activities
-
6,596
Unrestricted		 2022
Total
£
6,596
6,596		 2021
Total
£
1,825
1,825

All income from other trading activities in the prior year was unrestricted.

6. Government grants

The charity received government grants, defined as funding from Bristol City Council and Arts Council England (2021: other grants from West of England Combined Authority and the Coronavirus Job Retention Scheme) to fund charitable activities. The total value of such grants in the year ending 30 June 2022 was £81,357 (2021: £145,077). There are no unfulfilled conditions or contingencies attaching to these grants in the year.

18

The Wardrobe Theatre

Notes to the financial statements

For the year ended 30 June 2022

7. Total expenditure

Production fees
Staff costs (note 9)
Box office service charges
Rent and service charges
Advertising and marketing
Premises costs
Repairs and maintenance
Insurance
Audit and accountancy
Depreciation
Miscellaneous costs
Subscriptions
Travel and subsistence
Sub-total
Allocation of support and
governance costs
Total expenditure		 Raising
funds
£
-
16,267
-
-
-
-
-
-
-
-
-
-
-
16,267
891
17,158		 Charitable
activities
£
181,731
56,933
5,996
24,725
10,848
3,878
3,822
-
-
-
-
-
12,135
300,068
16,441
316,509		 £
-
8,133
-
-
-
-
-
1,605
3,084
413
3,385
712
-
17,332
(17,332)
-
Support and
governance
costs		 2022 Total
£
181,731
81,333
5,996
24,725
10,848
3,878
3,822
1,605
3,084
413
3,385
712
12,135
333,667
-
333,667		 Raising
funds
£
-
10,353
-
-
-
-
-
-
-
-
-
-
-
10,353
1,836
12,189		 Charitable
activities
£
117,248
32,143
3,964
7,465
2,018
1,528
7,598
-
-
-
-
-
-
171,964
30,505
202,469		 £
-
23,505
-
-
-
-
-
1,433
2,333
1,819
2,876
375
-
32,341
(32,341)
-
Support and
governance
costs		 2021 Total
£
117,248
66,001
3,964
7,465
2,018
1,528
7,598
1,433
2,333
1,819
2,876
375
-
214,658
-
214,658

Total governance costs were £3,084 (2021: £2,333).

19

The Wardrobe Theatre

Notes to the financial statements

For the year ended 30 June 2022

8. Net movement in funds

This is stated after charging:

Net movement in funds
This is stated after charging:
2022 2021
£ £
Depreciation 413 1,819
Trustees' remuneration Nil Nil
Trustees' reimbursed expenses Nil Nil
Independent examiners' remuneration:
Independent examination (including VAT) 1,500 1,410
Other services 947 923

9. Staff costs and numbers

Staff costs were as follows:

Salaries and wages
Social security costs
Pension costs		 2022
£
76,757
3,022
1,554
81,333		 2021
£
64,730
-
1,271
66,001

No employee earned more than £60,000 during the year.

The key management personnel of the charity comprise the trustees and the co-directors. The total employee benefits of the key management personnel were £59,393 (2021: £53,194).

Average head count 2022
No.
4.25		 2021
No.
4.50

10. Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

20

The Wardrobe Theatre

Notes to the financial statements

For the year ended 30 June 2022

11. Tangible fixed assets

Cost
At 1 July 2021
Additions in year
At 30 June 2022
Depreciation
At 1 July 2021
Charge for the year
At 30 June 2022
Net book value
At 30 June 2022
At 30 June 2021
12. Debtors
Trade debtors
Prepayments
Accrued income
13. Creditors : amounts due within 1 year
Trade creditors
Accruals
Other taxation and social security
Other creditors		 £
5,460
-
5,460
5,047
413
5,460
-
413
2022
£
4,517
-
41,834
46,351
2022
£
27,735
6,136
2,581
25
36,477
Fixtures,
fittings and
equipment		 Total
£
5,460
-
5,460
5,047
413
5,460
-
413
2021
£
12,050
177
14,799
27,026
2021
£
29,277
1,770
252
199
31,498

21

The Wardrobe Theatre

Notes to the financial statements

For the year ended 30 June 2022

14. Analysis of net assets between funds

Analysis of net assets between funds
Tangible fixed assets
Current assets
Current liabilities
Net assets at 30 June 2022
Prior year comparative
Tangible fixed assets
Current assets
Current liabilities
Net assets at 30 June 2021		 Restricted
funds
£
-
-
-
-
Restricted
funds
£
-
-
-
-		 £
-
177,977
(36,477)
141,500
£
413
180,681
(31,498)
149,596
Unrestricted
funds
Unrestricted
funds		 Total
funds
£
-
177,977
(36,477)
141,500
Total
funds
£
413
180,681
(31,498)
149,596

22

The Wardrobe Theatre

Notes to the financial statements

For the year ended 30 June 2022

15. Movements in funds

Restricted funds
Total restricted funds
General funds
Total unrestricted funds
Total funds
Prior period comparative
Restricted funds
Total restricted funds
Unrestricted funds
General funds
Total unrestricted funds
Total funds
Omicron Hospitality and
Leisure Fund
West of England Combined
Authority: Small Scale Up
Grant
Arts Council England: Small
Project Grant
Unrestricted funds
Arts Council England: The
Great Gatsby
Arts Council England: Little
Women in Black		 At 1 July
2021
£
-
-
-
-
149,596
149,596
149,596
At 1 July
2020
£
-
-
-
100,597
100,597
100,597		 Income
£
£
14,884
(14,884)
14,916
(14,916)
2,667
(2,667)
32,467
(32,467)
293,104
(301,200)
293,104
(301,200)
325,571
(333,667)
Income
£
£
8,000
(2,000)
14,972
(14,972)
22,972
(16,972)
240,685
(197,686)
240,685
(197,686)
263,657
(214,658)
Expenditure
Expenditure		 £
£
-
-
-
-
-
-
-
-
-
141,500
-
141,500
-
141,500
£
£
(6,000)
-
-
-
(6,000)
-
6,000
149,596
6,000
149,596
-
149,596
Transfers
between
funds
At 30 June
2022
At 30 June
2021
Transfers
between
funds		 £
£
-
-
-
-
-
-
-
-
-
141,500
-
141,500
-
141,500
£
£
(6,000)
-
-
-
(6,000)
-
6,000
149,596
6,000
149,596
-
149,596
Transfers
between
funds
At 30 June
2022
At 30 June
2021
Transfers
between
funds
-
141,500
141,500
141,500
£
-
-
At 30 June
2021
-
149,596
149,596
149,596

23

The Wardrobe Theatre

Notes to the financial statements

For the year ended 30 June 2022

15. Movements in funds (continued) Purposes of restricted funds

Arts Council England: The Great Gatsby

A grant specifically to tour our production of The Great Gatsby.

Arts Council England: Little Women in Black

A grant specifically to create and stage our production of Little Women In Black.

Omicron Hospitality and Leisure Fund

A grant to support Bristol businesses in light of the Omicron wave of Covid.

16. Related party transactions

There were no related party transactions during the current or prior period.

24