## **2021 Financial Report** I’ve provided this in the same format as last year and I’ve tried to make it as easy to understand as possible. If anyone wants a copy of the full Annual Report and Financial Statements please let me know and I’ll email it to them. I would normally have included box office, and audience, figures for the year. Obviously there aren’t any as we had to remain closed all year. Bank statements don’t usually excite me but I couldn’t stop smiling when I saw the first of our ticket sales coming through in August. So this is a shorter report than usual (do I hear a sigh of relief?) and what I have included is :- - a) The Achievements and Performance paragraph from the Annual Report which is the summary of the last year from the committee. - b) Information from the Annual Report and Financial Statements. - c) Comments on the future Notes on each of these follow :- ## **Achievements and Performance** This is the committee’s comment on the year and reads :- “No-one anticipated that we would remain closed for the whole of this last year. In our report last year we anticipated opening in January and putting our first show on in March. As we all know that became impossible but we are now very much looking forward to our opening in September. The theatre closure gave us the chance to try out something new – a filmed performance of Queers which we had initially hoped to stage during the first half of the year. Everything about the production was a credit to all involved – the performances, the filming and the final product. We also staged 5 outdoor performances of Midsummer Night’s Dream which was another great success, in spite of the weather which tried, but failed, to dampen anyone’s spirits. And we completed our pre-opening trio of productions with Shakespeare Shenanigans, a brilliant reflection of how the pandemic has affected us all, using Shakespeare’s words. Our members and our loyal audience’s generosity with the donations they have made, and the many and various grants we have received, have enabled us to remain in a healthy financial position during this unique year in the theatre’s history. We do need to be very careful when we reopen as, inevitably, our spending will significantly increase, and we cannot be sure of audience sizes, at least for a while. But we remain very positive about the future and it’s obvious how eager our members are for a return to some sort of normality. The Phoenix is rising!” ## **Annual Report and Financial Statements** As with last year I have only included the Income and Expenditure page and the points I want to make are :- - The column to concentrate on is Unrestricted funds. The Restricted funds column mainly relates to the redevelopment a few years ago, the cost of which was capitalised and much of what is shown as expenditure in this column is actually depreciation – i.e. it’s not money we have paid out in the year as everything for the redevelopment is already paid for. - Our income throughout the year has been donations, grants, membership subscriptions and a little hire income as the church started using the theatre again in August 2020. A huge thank you to everyone who has donated, and to everyone who has been involved in setting up any of the fund-raising campaigns we have run. - Throughout the year we have been forecasting how our finances might look when we reopen, and obviously we had to make a lot of assumptions about the effect of social distancing and our audience sizes. Since March 2021 we have been measuring our financial position again this forecast and I’m pleased to say we have consistently been ahead of where we forecast ourselves to be. - You’ll see that our Total income and Total resources expended figures are very similar, with income being slightly ahead of expenditure. Given that we’ve been closed all year this is something everyone should be proud of and reflects the importance of the theatre to its members. The grants we’ve received have helped a lot, and we’re very grateful for them, but the thing that has made the biggest difference is the donations so generously given by members and our loyal audience. ## **The Future** We introduced what may have appeared rather draconian expenditure guidelines last year. The main reason for this was the knowledge that we would have to start spending a lot more once we reopened, and no-one could predict what our audiences would be but we knew they would be smaller for a while. The other thing we wanted to try and stop was any unnecessary spending – we have, occasionally, been guilty of spending money we didn’t have to. We are in a better position financially that we might have expected to be but it is still early days so I would ask that everyone continues to be very careful about expenditure. But the future is looking good, and I look forward to next year when I can bore the pants off you all with a longer report which includes box office and audience figures! Draft Flnan¢lal Statements at 16 September 2tr21 at 11:X.21 PEOPLE'S THEATRE ARTS GROUP UMITED (LIMITED BY GUARANTEE) STATEMENT OF FINANCIALACTMTIES INCLUDING INCOME AND EXPENDrruREACCOUNT FOR THE YEAR ENDED 31 JULY 2021 Currentfinancial y& Total fvnds nds 2021 2021 2020 In¢ome from: DOnatiOr￿ and Fegacies CharTrtab￿ actiwties Other trdding ac*vit Investments 116.108 4.284 5217 121,325 4.284 115.501 143,500 39,061 278 25 Totsl income 124.739 5.217 129,956 298.340 Expenditure on: Raising funds CharKtable acthÈbes Other 21.656 101.7(K) 9.802 31.458 55.544 151.244 17.728 17,728 41.349 230.236 18,083 13 123 83,074 206.4X) 289,668 Net incomingl{rtoing) rpsouyces before (77,857) (76.474) 8.672 (24.514) 24.514 Net (expgnditUTe)fincome for the yearl Net movement in funds {23.131) (53,343) (76.474) 8.672 Fund balan￿ at 1 ￿guSt 2020 191.OTf 127T.149 1,468.226 1.459.554 Fund balances at 31 2021 167.946 1223.806 1.391.752 1.468226 The slalement of finaTILiaE acbvttrs atrA) conyfjes with the Ywxxr£ and exp￿ljItijfe account urKler the CownpantesAct 20(￿.