Registered number CE025889
## Brecon Festival Ballet
## Report and Unaudited Accounts
31 January 2022
## **Brecon Festival Ballet Report and accounts Contents**
||**Page**|
|---|---|
|Charity information|1|
|Trustees' report|2|
|Indpendent examinders' report|4|
|Statement of financial activities|5|
|Balance sheet|6|
|Notes to the accounts|7|
## **Brecon Festival Ballet Charity Information**
## **Trustees**
Elizabeth Lyon Jeffreys - Chair Brian Kelly Catharine Emma Sinnadurai Penelope Jane Ashby Lesley Walker
## **Independent examiner**
Catherine A Williams Ltd The Old Bank Beaufort Street Crickhowell Powys NP8 1AD
## **Charity's principal address**
Theatr Brycheiniog Canal Wharf Brecon Powys LD3 7EW
## **Registered company number**
CE025889
**Registered charity number** 1194326
1
**Brecon Festival Ballet Registered company number: CE025889 Registered charity number: 1194326 Trustees' Report**
The trustees present their report together with the externally examined financial statements for the period ended 31 January 2022. The financial statements comply with current statutory requirements and with the requirements of the charity’s governing document. The reference and administration details shown on the preceding page form part of this report.
## **Structure, governance and management**
Brecon Festival Ballet (the charity) is a charitable incorporated organisation (CIO).
The charity was registered with the UK Charity Commission on 4 May 2021 (no. 1194326). It is governed by its Constitution.
The Trustees who served the charity during the period were as follows:
Elizabeth Lyon Jeffreys - Chair Brian Kelly Catharine Emma Sinnadurai Penelope Jane Ashby Lesley Walker
Apart from the first charity trustees, every trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees.
The Trustees are committed to the principles of the Charity Governance Code.
## **Objects and activities**
The charitable objects of the charity were for the public benefit, the advancement of the performing arts, in particular, but not exclusively, by:- (a) developing and performing publicly dance and ballet performances at the highest levels and making these accessible to audiences not all of whom will be already familiar with such performing arts; (b) the provision of opportunities for the education, training, instruction and development of dance and ballet performers
The charity's main activity is to produce a professional performance of The Nutcracker ballet annually in Brecon.
## **Achievements and Performance**
Brecon Festival Ballet Ltd used the Covid lockdown to assemble a Board of Trustees and achieve charitable status in May 2021. The new charity is Brecon Festival Ballet, registered number 1194326.
In 2021 Covid restrictions prevented a full scale production from going ahead. However we adapted our plans to put on “Christmas Treats from The Nutcracker” a scaled down production without the orchestra, giving opportunities for our professional dancers and students to perform.
2
**Brecon Festival Ballet Registered company number: CE025889 Registered charity number: 1194326 Trustees' Report**
A short dance piece “Plea” was also created expressing the frustration and isolation of lockdown. This was filmed and streamed online to reach audiences unable to return to the theatre.
## **Financial Review**
Becoming a charity has given us the ability to apply for additional funding opportunities, and also to claim Gift Aid on donations.
We were unable to raise money from the usual sources such as bag packing and sponsored events, but were successful in some grant applications and launching a new Friends scheme. We also received individual donations.
The reserves held in the Limited Company bank account were gifted to the new Charity and we finished the year with approximately £30,000 reserves going forward to the new financial year.
## **Statement of Trustees’ responsibilities**
The Trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and for being satisfied that the financial statements give a true and fair view. The Trustees are also responsible for preparing the financial statements in accordance with UK Accounting Standards.
The Trustees are responsible for keeping adequate accounting records that show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity.
The trustees are responsible for safeguarding the charity's assets and taking reasonable steps to prevent and detect fraud and other irregularities.
This report was approved by the board on . . / . . /2022 and signed on its behalf.
Elizabeth Lyon Jeffreys Chair of the Trustees
3
## **Brecon Festival Ballet**
## **Independent examiners' report to the board of trustees on the preparation of the unaudited accounts of Brecon Festival Ballet for the period ended 31 January 2022**
We report on the examination of the accounts of Brecon Festival Ballet for the period ended 31 January 2022 which are set out on pages 1 to 11.
## **Respective responsibilities of trustees and examiner**
The Charity's trustees are responsible for the preparation of the accounts. The Charity's trustees consider that an audit is not required for this year (under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is our responsibility to;
- examine the accounts under section 145 of the 2011 Act;
- to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act ;and
- to state whether particular matters have come to our attention
## **Basis of the independent examiner's report**
Our examination was carried out in accordance with the General directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning such matters. The procedures undertaken do not provide all the evidence that would be required of an audit, and consequently I do not express an audit opinion on the view given by the accounts.
## **Independent examiner's statement**
In the course of our examination, no matter has come to our attention;
(A) which gives us reasonable cause to believe that in, any material respect, the trustees have not met the requirements to ensure that;
* proper accounting records are kept in accordance with section 130 of the 2011 Act; and
* accounts are prepared which agree with the accounting records and comply with the accounting requirements of the 2011 Act; or
(B) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Catherine A Williams Ltd Chartered Accountants The Old Bank Beaufort Street Crickhowell Powys NP8 1AD
. . / . . /2022
4
## **Brecon Festival Ballet**
## **Statement of financial activities for the period from 4 May 2021 to 31 January 2022**
|Note
**Unrestricted**
**funds**
**2022**
**£**
**Income**
2
Donations and legacies
34,164
Charitable activities
31,799
Other trading activities
1,180
**Total income**
67,143
**Expenditure**
3
Raising funds
434
Charitable activities
34,268
General administration costs
1,410
Governance costs
1,086
**Total expenditure**
37,198
**Net income**
29,945
Transfers between funds
-
**Net movement in funds**
29,945
Reconciliation of funds:
Total funds brought forward
-
**Total funds carried forward**
29,945|**Total**
**funds**
**2022**
**£**
34,164
31,799
1,180
67,143
434
34,268
1,410
1,086
37,198
29,945
-
29,945
-
29,945|
|---|---|
5
**Brecon Festival Ballet Registered company number: Registered charity number: Balance Sheet as at 31 January 2022**
CE025889 1194326
|**Notes**
**Fixed assets**
Tangible assets
6
**Current assets**
Debtors
7
Cash at bank and in hand
**Creditors: amounts falling due**
**within one year**
8
**Net current assets**
**Net assets**
**Funds**
Unrestricted funds
**Total funds**|**Total**
**funds**
**2022**
**£**
42
573
31,554
32,127
(2,224)
29,903
29,945
29,945
29,945|
|---|---|
The trustees are satisfied that the charity is entitled to exemption from the requirement to obtain an audit under the Charities Act 2011.
The trustees acknowledge their responsibilities for complying with the requirements of the Charities Act 2011 with respect to accounting records and the preparation of accounts.
Elizabeth Lyon Jeffreys
Chair of the Trustees Approved by the board on . . / . . /2022
6
**Brecon Festival Ballet Notes to the Accounts for the period from 4 May 2021 to 31 January 2022**
## **1 Accounting policies**
## _**Basis of preparation**_
The accounts have been prepared on the accruals basis under the historical cost convention and in accordance with the Charities SORP (FRS 102) Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (effective 1 January 2019) and the Charities Act 2011.
## _**Income**_
Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
## _**Gift Aid**_
Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.
## _**Expenditure**_
Expenditure is recognised in the period in which it is incurred.
Costs of charitable activities comprise of expenditure identified as wholly or mainly attributable to achieving the objectives of the charity.
## _**Tangible fixed assets**_
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment over 3 years
## _**Assets**_
Basic financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
## _**Liabilities**_
Basic financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
|**2**
**Analysis of income**
**Donations and legacies:**
Donations
Friends membership income
Net assets gifted from Brecon Festival Ballet Ltd|**2022**
**£**
9,114
2,875
22,175
34,164|
|---|---|
7
**Brecon Festival Ballet Notes to the Accounts for the period from 4 May 2021 to 31 January 2022**
## **Net assets gifted from Brecon Festival Ballet Ltd**
Before Brecon Festival Ballet was registered as a charity, the organisation was previously setup as a not for profit company limited by guarantee, Brecon Festival Ballet Ltd. Following charity registration and setup of a new charitable incorporated organisation, the limited company is now in the process of being wound up. It's final accounts were prepared to 31st May 2021 and as at that date, the net assets of the limited company totalling £22,175 were gifted to the charity as an unrestricted donation. Due to a timing difference in the limited company settling its final liabilities, as at 31st January 2022, the limited company had transferred an additional £670 to the charity which is to be repaid to the limited company and is therefore shown as a creditor in the accounts.
|**Charitable activities:**
Ticket and merchandise sales
Grants
**Other trading activities:**
Advertising income
Fundraising income
Total income
**3**
**Analysis of expenditure**
**Raising funds:**
Advertising and PR
Printing costs
**Charitable activities:**
Orchestra and music fees
Self employed dancers
Costume
Scenery and props
Show production/management costs
Merchandise
Venue hire
Video production costs
Accommodation for dancers
Commissions payable|**2022**
**£**
19,399
12,400
31,799
**2022**
**£**
930
250
1,180
67,143
**2022**
**£**
311
123
434
**2022**
**£**
868
20,928
810
1,456
900
555
4,702
1,350
1,570
1,129
34,268|
|---|---|
8
## **Brecon Festival Ballet Notes to the Accounts for the period from 4 May 2021 to 31 January 2022**
|**General administration costs:**
Insurance
Medical
Depreciation
Storage
**Governance costs:**
Independent examiners fees
Other legal and professional
**Total expenditure**|**2022**
**£**
208
75
21
690
994
**2022**
**£**
1,050
36
1,086
36,782|
|---|---|
## **4 Independent examination fees**
The independent examiners' fees for the period ending 31st December 2021 were £1,050.00 and were unpaid at the yearend.
|**5**
**Employees**
Average number of persons employed by the charity|**2022**
**Number**
0|
|---|---|
9
**Brecon Festival Ballet Notes to the Accounts for the period from 4 May 2021 to 31 January 2022**
## **6 Tangible fixed assets**
|**Cost**
Additions
At 31 January 2022
**Depreciation**
Charge for the period
At 31 January 2022
**Net book value**
At 31 January 2022
**7**
**Debtors**
Prepayments
Gift Aid debtor
**8**
**Creditors: amounts falling due within one year**
Trade creditors
Accruals
Amounts owed to trustees
Brecon Festival Ballet Ltd
**9**
**Funds**
**Fund balances**
**brought forward**
**£**
Unrestricted funds
-
-|**Income**
**£**
67,143
67,143|**2022**
**£**
510
63
573
**2022**
**£**
150
1,050
416
608
2,224
**Expenditure**
**£**
(37,198)
(37,198)|**Plant and**
**machinery etc**
**£**
63
63
21
21
42
**Fund balances**
**carried forward**
**£**
29,945
29,945|
|---|---|---|---|
10
**Brecon Festival Ballet Notes to the Accounts for the period from 4 May 2021 to 31 January 2022**
## **10 Transactions with Trustees and related party transactions**
No Trustee received remuneration or benefits from the charity during the period ending 31st January 2022 for their role as trustee. Two Trustees were to be reimbursed a total of £416.00 for use of home as office expenses during the period.
During the period the charity paid £626.00 to Trustee, Lesley Walker, for her loss of self-employment earnings during the week of the show in December 2021.
During the period the charity paid £542.94 to Trustee, Catharine Sinnadurai, for her loss of selfemployment earnings during the week of the show in December 2021.
During the period the charity paid £750.00 to Josie Sinnadurai for self-employed dancer costs. Josie Sinnadurai is the daughter of charity Trustee, Catharine Sinnadurai.
During the period the charity paid £700.00 to Megan Walker for stage management costs Megan Walker is the daughter of charity Trustee, Lesley Walker.
## **11 Charity information**
Brecon Festival Ballet is a Charitable Incorporated Organisation registered in England and Wales at Companies House, registration number CE025889, and a registered charity, registration number 1194326. Its principal office is:
Theatr Brycheiniog Canal Wharf Brecon Powys LD3 7EW
11
## **Brecon Festival Ballet**
## **Detailed income and expenditure account for the period from 4 May 2021 to 31 January 2022**
_This schedule does not form part of the statutory accounts_
|**Income**
Donations and legacies:
Donations
Friends membership income
Net assets gifted from Brecon Festival Ballet Ltd
Charitable activities:
Ticket and merchandise sales
Grants
Other trading activities:
Advertising income
Fundraising income
Total income
**Expenditure**
Raising funds:
Advertising and PR
Printing costs
Charitable activities:
Orchestra and music fees
Self employed dancers
Costume
Scenery and props
Show production/management costs
Merchandise
Venue hire
Video production costs
Accommodation for dancers
Commissions payable
General administration costs:
Insurance
Medical
Depreciation
Storage
Use of home|**Unrestricted**
**funds**
**2022**
**£**
9,114
2,875
22,175
34,164
19,399
12,400
31,799
930
250
1,180
67,143
311
123
434
868
20,928
810
1,456
900
555
4,702
1,350
1,570
1,129
34,268
208
75
21
690
416
1,410|**Total**
**funds**
**2022**
**£**
9,114
2,875
22,175
34,164
19,399
12,400
31,799
930
250
1,180
67,143
311
123
434
868
20,928
810
1,456
900
555
4,702
1,350
1,570
1,129
34,268
208
75
21
690
416
994|
|---|---|---|
12
## **Brecon Festival Ballet**
## **Detailed income and expenditure account for the period from 4 May 2021 to 31 January 2022**
_This schedule does not form part of the statutory accounts_
|Governance costs
Indpendent examiners fees
Other legal and professional
Total expenditure|**Unrestricted**
**funds**
**2022**
**£**
1,050
36
1,086
37,198|**Total**
**funds**
**2022**
**£**
1,050
36
1,086
36,782|
|---|---|---|
13