2023-03-31-accounts - The Factory Of Creativity

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Contents		Page
Trustees' report
Independent auditors'	report
Consolidated Statement of Financial Activities		12
Statement ofFinancial	Activities	13
Balance Sheets		14
Consolidated Cash Flow Statement
Notes to the financial	statements	16

A Rawlinson
M R Dubois		Appointed	12November 2022
Dr P Martin OBE K O' Neill		Appointed Appointed	16July 2022 16July 2022
R Miller		Appointed	16July 2022
ERiley		Appointed	16July 2022
D Carr JMcCarthy		Appointed Appointed	16July 2022 16July 2022
DTreacy		Appointed	16July 2022
KM Gillibrand		Appointed	16July 2022
D R L Gordon
T Kent
C Pinney
PA Richards		Resigned	17September 2022
R Hall		Resigned	25October 2022
Hawsons Chartered		Accountants
Statutory Auditors
Pegasus House
463a Glossop Road
Sheffield
S102QD
The Cooperative	Business Banking
1 Balloon Street
Manchester
M604EP
Will Whelton

The Factory of Croatlvlty Independent audltors, report to thè Trustoes of The Factory of Crnatlvlty (contlnuedl Discussions wtih management arKI those responsible for al eompliance procedures wthin the charitable company to obtain an underslanding of the legal and regulatory framework applicable to the charitable company and how the Charitab company complies wtth thal framework. including consideration of kno or suspected inStareS of non-compliance ¥h laws and regulations arKI fraud,. Reviewing minute5 of Trustee meetings.. Idenbfying and assessing the design effectNenes$ of eontrols that magement has in rAa¢e to prevent and detect fraud and non-compliance with Traws and regulations.. Challenging assumpti and judgements made by Mgement in their signthcant &counting estimates. Identifying and lesling jwmal entn"es. pathular iwmal entries px)sted with unusual account CombinatnS or F#)Sted by Sen1 managemenL There are inherent limitations ¥) the a111 [edureS deribed above and the more removed non-compliance th laws and regulations is from the events aThJ transaclDns reflected in the ffinanual slatemenls. the less likely we are lo become aware of it. Mso. the risk of rt detecting a material misstatement due lo traud is higher than the risk of not delecling one resulliThJ from error, as fraLKJ may invclve deliberate corKealment by. for example, forgery or intentional misrepresentstions, or through collusion. A fitrther description of our responsibilities ts available on the Finanual Reporknng Council's website aL www.frc.org.ukjaudilorslaudii-assurancelauditor-s4espongkn.1rts-for-th&audit-of-the-fildescription-of-Ih auditOr's-re¥nSibllies-1Or. This description forms part of our auditc<s report. Use of our report This report is made solely to ts charity's trustees. a5 a bcty. in accordance Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit Wofk has been undertaken so that we might stsle to the charity's Iruslees those matters we are reqUId lo stale to them in an auditor's report and for no other purpgse. To the ful$1 extent pemitted by law, we do r1 accept or assume responsibility to anyone olher than the charity and the challty'5 Iru51ees as a body, fcrf our audrt work. for this rewi, or for the opinions we have forn. ukn) Hawsons Chartered Amwnlanls statutory Auditor Pegasus House 463a Glossop Road Sheffield S10 2QD HawBons Chartered Accountants 1$ elwible for appointment as audilc of the tharity by vwtue of ts eligibility for appointment as auditor ofa ¢(panY der section 1212 oflhe cPanieS Act 2006. 11

			Unrestricted	Restricted	2023	2022
			Fund	Funds	Total	Total
			E	E	E	E
Income and Endowments	from:	Notes
Grant, donations and legacies		2	132,842	96,895	229,737	529,186
Charitable activities		3	642,856		642,856	452,826
Other trading activities		4	277,495		277,496	288,978
Other income		5	135,436		135,436	201,447
Total incoming resources			1,188,629	96,895	1,285,524	1,472,437
Resources expended
Raising funds			231,886		231,686	212,595
Charitable activities			1,181,370	42,370	1,223,740	1,151,903
Total resources expended			1,413,056	42,370	1,455,426	1,364,498
Net (expenditure)/income			(224,427)	54,525	(169,902)	107,939
Transfers between funds
Net movement in funds			(224,427)	54,525	(169,902)	107,939
Funds brought forward			183,706	7,794	191,500	83,561
Funds carried forward			(40,721)	82,319	21,598	191,500

			Unrestricted	Restricted	2023	2022
			Fund	Funds	Total	Total
			F		6	5
Income and Endowments	from:	Notes
Grant, donations and legacies		2	132,842	96,895	229,737	543,186
Charitable activities		3	642,856		642,856	452,826
Other trading activities			52,371		62,371	93,699
Other income		5	135,438		135,436	201,447
Total incoming resources			983,505	96,895	1,060,400	1,291,158
Resources expended
Raising funds			22,473		22,473	31,539
Charitable activities			1,181,370	42,370	1,223,740	1,151,903
Total resources expended			1,203,843	42,370	1,246,213	1,183,442
Net (expenditure)iincome			(240,338)	54,525	(185,813)	107,716
Transfem between funds
Net movement In funds			(240,338)	54,525	(186,813)	107,718
Funds brought forward			180,520	7,794	188,314	80,598
Funds carried forward			(59,818)	82,319	2,501	188,314

31March 2023
			31 March		31 March
		Notes	2023		2022
			Group	Company	Group	Company
			E	E	E	E
Fixed assets
Tangible assets investments		10 11	55,067	52,255 1	55,570	52,056 1
			55,067	52,256	55,570	52,057
Current assets
Stock		12	5,713
Debtors Cash at bank and in	hand	13	293,677 61,504	293,237 23,392	182,452 309,607	198,529 251 410
			360,894	316,629	492,059	449,939
Creditors —amounts due within one year	falling	14	(209,201)	(181,222)	(245,986)	(203,539)
Net current assets			161,693	135,407	245,073	246,400
Total assets less current liabilities			206,760	187,663	301,643	298,457
Creditors —amounts due after one year	falling	15	(185,162)	(185,162)	(110,143)	(110,143)
Net assets			21,598	2,501	191,500	188,314
Charity funds
Restricted funds Unrestricted funds		18 19	62,319 (40,721)	62,319 (59,618)	7,794 183,706	7,794 180,520
Total charity funds			21,598	2,501	191,500	188,314

			Notes	2023	2022
				8	F
Cash flow from operating	activities		21	(305,938)	40,191
Cash flow from investing	activities
Payments to acquire tangible		fixed assets		(15,180)	(5,710)
Interest paid				(7,014)	(4,200)
Net cash flow fmm investing		activities		(23,194)	(9,910)
Cash flow from financing	activities
New loan in the year				100,000	43,500
Repayment ofborrowings				(17,971)	(10,055)
Net cash flow from financing		activities		82,029	33,445
Net (decrease) IIncrease	in	cash and cash equivalents		(248,103)	63,726
Cash and cash equivalents		at 1 April		309,807	245,581
Cash and cash equivalents		at 31 March		81,504	309,607
Cash and cash equivalents		consist of:
Cash at bank and in hand				81,504	309,607
Cash and cash equivalents		at 31 March		81,504	309,607

2.	Income from	gr	ants	, donation	s and le	gacies
						Unrestricted	Restricted	Total	Total
						fund	fund	funds	funds
						2023 6	2023f	2023 6	2022 6
	Donations					11,466	20,395	31,861	41,107
	Total donations					11,466	20,395	31,861	41,107
	Manchester	City	Council				30,000	30,000	62,463
	Arts Council	England				55,203		55,203	343,540
	Grand Trust								15,000
	National Lottery		Key	fund		35,273		35,273	49,866
	Northern Cultural		Regeneration		Fund		16,500	16,500
	Foyle Foundation						15,000	15,000
	Andrew Lloyd						15,000	15,000
	Granada Foundation					2,000		2,000
	LGBTFoundation					2,000		2,000
	Noel Coward	Foundation				2,400		2,400
	MCR Active					4,500		4,500
	Garfield Western					20,000		20,000
	Government	furlough		scheme					17,210
	Total grants					121,376	76,500	197,876	488,079
	Total					132,842	96,895	229,737	529,186
3.	Income from charitable activities
						Unrestricted	Restricted	Total	Total
						fund	fund	funds	funds
						2023	2023	2023	2022
							F	6	F
	Ticket sales					612,116		612,116	406,811
	Memberships					9,410		9,410	8,978
	Theatre school					21,330		21,330	37,037
						642,856		642,856	452,826

4.	Income from	Income from	other trading activities	other trading activities
					Unrestricted	Restricted	Total	Total
					fund	fund	funds	funds
					2023	2023f	2023 6	2022f
	Charitable trading:
	Sales of Product Income				20,200		20,200	22,394
	Fundraising							9,767
	Trading income				225,124		225,124	195,279
	Advertising				300		300	285
	Theatre Hire				31,871		31,871	81,253
					277,495		277,495	288,978
5.	Other Income
					Unrestricted	Restricted	Total	Total
					fund	fund	funds	funds
					2023f	2023f	2023 6	2022f
	Management		charges					89,035
	Theatre Tax	Relief			127,882		127,882	132,412
	Other income				7,554		7,554
					135,436		135,436	201,447
6.	Expenditure	on raising funds
					Unrestricted	Restricted	Total	Total funds
					fund	fund	funds
					2023f	2023 F	2023 8	2022 6
	Charitable:
	Purchases				2,024		2,024	7,539
	Consultancy	fees						24,000
	Fundraising	costs			20,449		20,449
	Non&harttablet
	Trading subsidiary			expenditure	145,663		145,663	146,605
	Trading subsidiary			staff costs	63,550		63,550	34,451
					231,888		231,686	212,595

				Unrestricted	Restricted	Total	Total funds
				fund	fund	funds
				2023	2023	2023	2022
				6		6	5
Pmductlon costs
Hire ofequipment				16,731		16,731	38,438
Boxoffice				311,271	24,000	335,271	65,547
Pre-production	expenses			306,502		306,502	398,997
Artist Travel				8,494		8,494	4,258
Artists				101,361		101,361	175,636
Set, costume and prep				17,764		17,764	27,948
				762,123	24,000	786,123	710,824
Establishment	costs
Rent and rates				39,576		39,576	36,422
Insurance				6,241		6,24'I	10,882
Light and heat				13,403		13,403	5,592
Telephone				2,009		2,009	1,653
				61,229		61,229	54,549
Supportcosts
Computer expenditure				4,993		4,993	8,797
Repair and maintenance				21,515		21I515	39,082
Entertainment				4,649		4,649	5,871
Licenses and memberships				5,214		5,214	5,126
Cleaning				5,910		5,910	3,467
Health and safety				2,966		2,966	3,812
Travel				11,655		11,655	8,292
Depreciation				15,981		15,981	15,446
Printing, postage and stationery				6,020		6,020	6,072
Advertising				9,685		9,685	44,572
Sundries				2,916		2,916	716
Bank loan interest				7,014		7,014	4,200
VAT expense				30929		30,929
				129,447		129,447	145,453
Payroll costs
Staffcosts				211,130	8,750	219,880	222,514
Training				2,321		2*321
				213,451	8,750	222,201	222,514
Governance costs
Auditor's remuneration				14,626		14,626	10,970
Legal and professional			fees	196	9,620	9,816	7,593
Bank charges				298		298
				15,120	9,620	24,740	18,563
Total expenditure activities		on	charitable	1,181,370	42,370	1,223,740	1,151,903

Net income	for the year	for the year
											2023	2022
											E	E
This is stated		after charging:
Depreciation										16,683		15,446
Fees payable		to the Charity's		auditors	in respect of:
The audit ofthe Charity's			annual accounts								6,000	3,000
The audit ofthe subsidiary's				annual accounts							1,000
All taxation advisory services											3,000
All non-audit	services not		included above								7,126	7,970
Staffcosts and trustee			remuneration
							2023					2022
						Group			Charity	Group		Charily
						E			E		F	E
Wages and salaries						257,091			199,446	242,144		207,693
Social security		costs				21,614			16,768	11,595		11,595
Pension costs						4,725			3,866		3,226	3,226
						283,430			219,880	256,965		222,514
							2023					2022
						Group			Charity	Group		Charity
Employees						19			19		14	14
The number ofemployees			whose employee			benefits	(excluding		employers	pension costs) exceeded F60,000
was:
										Group		Group
											2023	2022
											No.	No.
In the band E60,001 -E70,000
During the year, no trustees				received	any remuneration			or other	benefits	(2022: Nil).	No (2022: Nil) trustees
had expenses		reimbursed	during the year (2022: ENil).

Tangible fixed assets
Group
	Plant &	Fixtures &	Computer
	machinery	fittings	equipment	Total
	6		6	6
Cost
At 1 April 2022	70,388	20,792	10,401	101,581
Additions	14,696		1,484	16,180
Disposals
At 31 March 2023	85,084	20,792	11,885	117,761
Depreciation
At 1 Apdil 2022	29,714	9,576	6,721	46,011
Charge forthe year	10,730	2,243	3,710	16,683
Eliminated on disposal
At 31 March 2023	40,444	11,819	10,431	62,694
Net book value
At 31 March 2023	44,640	8,973	1,454	55,067
At 31 March 2022	40,674	11,216	3,680	55,570
Charity
	Plant &	Fixtures &	Computer
	machinery 6	fittings	equipment 6	Totalf
Cost
At 1 April 2022	68,136	18,233	9,592	95,961
Additions	14,696		1,484	16,180
Disposals
At 31 March 2023	82,832	18,233	11,076	112,141
Depreciation
At 1 April 2022	28,903	8,515	6,487	43,905
Charge for the year	10,442	1,944	3,595	15,981
Eliminated on disposal
At 31 March 2023	39,345	10,459	10,082	59,886
Net book value
At 31 INarch 2023	43,487	7,774	994	52,255
At 31 March 2022	39,233	9,718	3,105	52,056

Debtors
		2023			2022
	Groupf		Charity	Group 6		Charityf
Trade debtors	20,688		20,148	13,097		10,597
Amounts owed by group undertakings						18,577
Prepayments	273,089		273,089	169,355		169,355
	293,677		293,237	182,452		198,529

				2023			2022
				Group 6	Charity 6	Group 6		Charity
Other loans				24,983	24,983	17,973		17,973
Trade creditors				9,284	5,213	13,494		13,254
Amounts	owed by group
undertakings					14,694
Social security and other taxes				46,147	68,242	6,207
Other creditors Deferred income Accruals				89,273 39,514	36,275 32,915	2,695 192,867 12,750		2,695 160,967 8,650
				209,201	181,222	245,986		203,539
Creditors: Amounts			falling due in more than one year
				2023			2022
				Group	Charity 6	Group 6		Charityf
Other loans				185,162	185162	110143		110,143
Deferred	income
				2023			2022
				Group	Charity	Group		Charity
						F
Balance	at 1 April			192,867	160,967	124,844		100,147
Amounts	released	to	income	(192,867)	(160,967)	(124,844)		(100,147)
Amount	deferred	in the year		89,273	35,275	192,867		160,967
Balance	at 31 March			89,273	35,275	192,867		160,967

The ageing ofthe	loans isas foll	ows:
			2023		2022
			Gmup 6	Charity 8	Groupf	Charity 6
Due in one year			24,983	24,$83	17,973	17,973
Due between two and five years			83,086	83,086	71,891	71,891
Due in more than	five years	102,076		102,076	38,252	38,252
		210,145		210,145	128,116	128,116
Restricted funds
Group and Charity - 2023		Balance at	Incoming	Resources	Transfer	Balance at
		31 March	resources	expensed		31March
		2022				2023
		6				6
First Curtain		7,794	20,395	(24,000)		4,189
Foyle Foundation			15,000	(5,000)		10,000
Manchester City	Council		30,000	(9,620)		20,380
Andrew Lloyd Webber Foundation			15,000	(3,750)		11,250
Northern Cultural Regeneration Fund			16,500			16,500
Total restricted	funds	7,794	96,895	(42,370)		62,31$
Group and Charity - 2022		Balance at	Incoming	Resources	Transfer	Balance at
		31 March	resources	expensed		31 March
		2021 F				2022f
First Curtain		2,629	5,165			7,794
Tum on Festival			16,430	(16,430)
The Wiz			23,945	(23,945)
Total restricted	funds	2,629	45,540	(40,375)		7,794

Unrestricted funds	C»arity	Groupf
Balance at 31 March 2021	77,969	80,932
Net movement in funds for the year	102,551	102,774
Transfer during the year
Balance at 31 March 2022	180,520	183,706
Net movement in funds for the year	(240,338)	(224,427)
Transfer during the year
Balance at 31 March 2023	(59,818)	(40,721)

Analysis ofnet assets between funds
Group - 2023	Unrestricted fundsf	Restricted funds F	Total funds
Tangible fixed assets	55,067		55,067
Current assets Creditors due within one year Creditors due in more than one year	298,575 (209,201) (185,162)	62,319	360,894 (209,201) (185,162)
	(40,721)	62,319	21,598
Group - 2022	Unrestricted fundsf	Restricted funds 6	Total funds
Tangible fixed assets	55,570		55,570
Current assets	484,265	7,794	492,059
Creditors due within one year	(245,986)		(245,986)
Creditors due in more than one year	(110,143)		(110,143)
	183,706	7,794	191,500

Charity - 2023	Unrestricted funds	Restricted funds	Total funds
		5
Tangible fixed assets	52,255		52,256
Investments	1		1
Current assets	254,310	52,319	316,828
Creditors due within one year	(181,222)		(181,222)
Creditors due in more than one year	(185,162)		(185,162)
	(59,818)	62,319	2,501
Charity - 2022	Unrestricted fundsf	Restricted funds	Total funds
Tangible fixed assets	52,055		52,056
Investments	1		1
Current assets	442,145	7,794	449,939
Creditors due within one year	(203,539)		(203,539)
Creditors due in more than one year	(110,143)		(110,143)
	180,520	7,794	188,314

				2023	2022
				Gmup	Group
				8	E
Net (outgoing)/incoming		resources		(189,802)	107,939
Interest paid				7,014	4,200
Net (outgoing)/incoming		resources from	operations	(162,888)	112,139
Depreciation				16,683	16,325
(Increase) in stock				(5,713)
(Increase) in debtors (Decrease)/Increase in creditors				(111,225) ~43796	(168,303) 50,030
Net cash (oufflow)/	inflow from operating		activities	(306,838)	40,191

22.	Analysis of	net debt
			1 Api'll			Non-cash		31 March
			2022		Cash flow	Movements		2023
			E		F			8
	Cash at the bank and in hand		309,607		(248,103)			61,504
	Debts falling Debts falling	due within one year due after one year	(17,973) (110,143)		82,029	(89,039) (75,019)		(24,983) (185,182)
			181,491		(166,074)	(164,058)		(148,641)
23.	Financial commitments
				2023			2022
	As at 31 March the annual		Group 8		Company f	Group		Company 5
	commitments	under non-cancellable
	operating leases were as follows:-
	Due within 1	year	25,000		25,000	25,000		25,000
	Due within 1	to 2 years	100,000		100,000	100,000		100,000
	Due within 2	to 5years	80,417		80,417	85417		85417
			185,417		185,417	210,417		210,417