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|At 31 August||||2023|2022|
|---|---|---|---|---|---|
|||||2'000|E'000|
|Total unrestricted||funds||10,096|10,376|
|Exclude designated||funds - restructuring|reserve (Note 13)|(200)|(437)|
|Exclude designated||funds —production|reserve (Note 13)|(2,002)|(2,002)|
|Less fixed assets||||(1,482)|(1,543)|
|Exclude pension|reserve|||(4,186)|(2,696)|
|Free reserves||||2,226|3,698|





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|||Note|31 August|3iAugust|
|---|---|---|---|---|
||||2023|2022|
||||E'000|E'000|
|Fixed assets|||||
|Tangible assets||7a|1,482|ir543|
|Investments||7b|~08|~21|
||||4r 520|4,658|
|Current assets|||||
|Stocks|||102|114|
|Debtors||9|4,420|3r450|
|Cash and bank deposits||10|~21|3590|
||||7r273|7r154|
|Creditors: amounts<br>Net current assets|falling due within one year||~12<br>~2|~282~1|
|Total assets less current liabilities|||10062|9r999|
|Net assets excluding pension liability|||10062|9r999|
|Defined benefit pension (liability)/asset<br>Net assets||17|ru286<br>~8|2 6&66|
|unrestricted<br>funds|||||
|Other charitable funds||13|2,8o3|4r373|
|Designated<br>funds||13|ir239|ir439|
|Revaluation<br>reserve||13|868|868|
|Pension reserve||17|6 286|2 6ii6|
|Total unrestricted|funds|13|10096|io,376|
|Restricted funds||14|459|350|
|Endowment<br>funds||15|3,693|1,969|
|Total charity funds||||~22 6|





## 

|||Note||31August|31August|
|---|---|---|---|---|---|
|||||2023|2022|
|||||6000|6000|
|Fixed assets||||||
|Tangible assets||7a||1,482|11543|
|Investments||7b||~08|~11|
|||||4r520|4,658|
|Current assets||||||
|Stocks||||102|114|
|Debtors|||9|ii334|1i537|
|Cash and bank deposits||10||~26||
|||||4r109|4,988|
|Creditors: amounts|falling due within one year||||(iii~:Q|
|Net current assets||||~2||
|Total assets less current liabilities||||7i275|7I973|
|Net assets excluding pension liability||||7i275|7i973|
|Defined benefit pension (liability)/asset<br>Net assets||1,7||4 286|~z6 6<br>~6|
|Unrestricted<br>funds:||||||
|Other charitable funds||13||16|?i347|
|Designated<br>funds||13||ii239|ii439|
|Revaluation<br>reserve||13||868|868|
|Pension reserve||17||4 286|~z6 6|
|Total unrestricted|funds|13||7r309|8,35o|
|Restricted funds||14||459|350|
|Endowment<br>funds||15||3I693|2.,969|
|Totalcharityfunds|||||2~66|





## 

|Years to31August:||||Note|2o23|2022|2022|
|---|---|---|---|---|---|---|---|
||||||E'000|E000||
|Net cash flow from operating|activities (see below)||||(773)|(3,1»)||
|Interest received|||||79||102|
|Investing activities:||||||||
|Proceeds from sale ofinvestments||(shares etc.)||7b|796||832|
|Investments<br>(in shares etc.)||||7b|(883)||(714)|
|Purchases offixed assets||||7a|(64)||(33)|
|Proceeds from sale offixed assets||||2a|6|||
|Net cash movement|||||(839)|(3,207)||
|Opening cash at bank and in hand|||||3,590|6,517||
|Closing cash at bank and in hand|||||2r751|3r590||
|Net cash flow from operating|activities||||2023|2022||
|Years to31August:|||||S000|S'000||
|Net expense forthe year|||||179||31|
|Adjustments<br>for:||||||||
|Release from reserves||||||||
|Movement<br>in WNO Endowment||Fund||||||
|Interest receivable|||||(79)||(1o2)|
|Depreciation<br>charges||||7a|125||136|
|Profit on sale offixed assets||||2a|(6)|||
|Movement<br>in investments||||7b|164||(112)|
|Operating<br>cash flow before movement|||in working capital||383||(47)|
|Movements<br>in working capital:||||||||
|Movement<br>in stocks|||||12||(2o)|
|Movement<br>in debtors||||9|(970)|(1,256)||
|Movement<br>in creditors||||11|(82)|(1,772)||
|Adjustment<br>for pension funding||||17|(116)||(17)|
||||||(sr156)|(3,065)||
|Net cash (outflow)/inflow<br>from operating activities|||||(773)|(3|112)|





## 

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## 



## 

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## 



## 

## 

## 



## 

## 

|(a) Income||Unrestricted|Restricted|Endowment|Year|Year|
|---|---|---|---|---|---|---|
|||Fund|Fund|Fund|||
|||2023|2023|2023|2023|2022|
|Years to 31August||E000|E'000|E'000|E'000|E'000|
|Boxoffice and similar income||1r741|||sr741|2,466|
|Programmes<br>&Engagement||77|||77|39|
|Income from other charitable|activity|904|||904|2,645|
|Profit on disposal offixed assets||6|||6||
|Income from charitable activities||ar728|||2,728|4r150|
|Grants receivable:|||||||
|Arts Council England||Sr304|||5r304|6,236|
|Arts Council ofWales||4r729|||4r729|4,612|
|General grants||10r033|||10r033|s.o,848|



|Years to31August:|Years to31August:|Years to31August:|Direct|Support|Year|Direct|Support|Year|
|---|---|---|---|---|---|---|---|---|
||||activity|costs||activity|costs||
||||2023|2023|2023|2022|2022|2022|
||||E'000|E'000|E000|E000|E000|E000|
|Main-scale opera|||14,6g6|2r057|16,753|14,829|1r727|16,556|
|Programmes||&|1,078|132.|1r209|1,o86|110|1,2,g6|
|Engagement|||||||||
|Charitable|activity||15r774|2,188|17r962|15r915|s.r837|17r752|
|Fundraising|||276|68|344|299|57|356|
|Trading|||2,428||2,418|2,061||2061|
|Total expenditure|||18,468|2,256|20r724|18,275|1894|20r169|





## 

## 

|Years to31August:|Years to31August:|2023|2022|
|---|---|---|---|
|||s 000|IE000|
|Wales Millennium|Centre premises|414|311|
|Finance &IT||852|823|
|Administration,|HR|913|688|
|Governance<br>costs||1||
|Defined Benefit|Scheme pension costs|76|71|
|Support costs||2 256|1.,894|
|Allocation ofsupport costs toactivities based on direct costs incurred:||||
|Opera||2I057|sr727|
|Programmes<br>8 Engagement||131|110|
|Fundraising||68|57|
|Support costs||2,256|1894|



## 

|Years to31August:|||2023|2022|
|---|---|---|---|---|
||||S000|s'000|
|Rentals under operating||leases —land and buildings|18o|18o|
|Rentals under operating||leases —equipment|14|14|
|Depreciation —owned|assets||125|136|
|Auditor remuneration|as|statutory<br>auditor|36|29|
|Other non-audit fees|paid tothe auditor|||2|





## 

## 

|National<br>Opera Lim|ited:||||
|---|---|---|---|---|
||||2023|2022|
|Years to 31.August:|||||
||||4000|S000|
|Total incoming resources|||2o,278|16i329|
|Net (deficit)/surplus|forthe year||(582)|(1,507)|
|Actuarial<br>(loss)/gain|on defined benefit scheme (see note 17)||1i490|1,664|
|(Deficit)/surplus<br>including||actuarial (loss)/ga in in the pension scheme|908|157|



## 

## 

|Years to 31August:|2023|2022|
|---|---|---|
||e 000|S'000|
|Wages and salaries|8,283|7,85o|
|Social security costs|896|828|
|Other pension costs|418|400|
|Pension deficit costs|76|71|
||9 673|9z249|



|Years to31August:|Years to31August:|2023|2022||
|---|---|---|---|---|
|||Number|Number||
|Opera||155|159||
|Programmes|and Engagement|11|14||
|Support||17|14||
|Fundraising||8|||
|Trading||23|||
|||214|220||
|||||37|





## 

## 

|The number ofGroup employees|whose|emoluments|excluding|pension contributions|but including|benefits|
|---|---|---|---|---|---|---|
|in kind were in excess ofE6o,ooo|was:||||||
|Years to31August:|||||2023|2022|
||||||Number|Number|
|E60,000 - E69(999|||||||
|E70(000 E79(999|||||||
|EBoooo - E8g ggg|||||||
|E90(000 E99(999|||||||
|E100000 - E109(999|||||||
|E1101000- E119(999|||||||
|E1401000 - E149/999|||||||



## 



## 

## 

## 

|years to31August:|2023|2022|
|---|---|---|
|Due, syear|194,062|106459|
|Due 2-Syears|112/000|112/000|
|Due» 5years|2,249/742|2,277,742|



## 

## 

|Group and Company|Group and Company|Long|Vehicles|Equipment|Total|
|---|---|---|---|---|---|
|||leasehold||||
|||E'000|E.'000|E'000|E'000|
|Cost||||||
|At1September|2o22|1,500|555|1/755|3,81o|
|Additions|||18|46|64|
|Disposals|||(75)||(75)|
|At31AugUst 2023||1/500|498|1,8o1|3/799|
|Depreciation||||||
|At 1September|2o22|210|488|1,569|2,267|
|Charge forthe|year|30|17|78|125|
|Disposals|||(75)||(75)|
|At 31AugUst 2023||240|43o|1,647|2,317|
|Net book value||||||
|At 31August 2022||1,290|67|1.86|1,543|
|At 31August 2023||1/260|68|154|1/482|





## 

## 

## 

|Group and Company:|Group and Company:|||2023|2022|
|---|---|---|---|---|---|
|At31August||||f000|f000|
|Corporate bonds|and cash|||512|519|
|Equities:||||||
|UK||||878|1,139|
|US||||1i009|970|
|Other equities||||584|422|
|Property||||55|65|
|||||3,o38|3i215|
|The movements|in investments||held were as follows:|||
|Years ended 32.August:||||2023|2022|
|||||f000|f000|
|Market value at|the beginning||ofthe year|3r115|3i221|
|Additions<br>at cost||||883|714|
|Disposals at carrying value||||(796)|(832)|
|Net realised and|unrealised|(losses)/gains||(164)|112|
|Market value at|the end ofthe||year|3,o38|3r115|
|Historical costatthe end ofthe year||||2,844|2718|
|Included within the above||iscash held within the portfolio totalling||82.|142|





## 

## 

## 

|Group|Group|Company|Company|
|---|---|---|---|
|2023|2022|2023|2022|
|f000|E000|f000|E000|
|102|114|102|114|



## 

|||Group|Group|Company|Company|
|---|---|---|---|---|---|
|At 32August||2023|2022|2023|2022|
|||E'000|E'000|f000|f000|
|Trade debtors||530|532|121|240|
|Amounts<br>owed by Group undertakings||||204|464|
|Otherdebtors||320|123|258|43|
|Taxation||2,824|2r044||40|
|Prepayments|and accrued income|746|752|751|750|
|||4r 420|3r450|sr334|sr537|



## 

||||Group|Group|Company|Company|
|---|---|---|---|---|---|---|
|At31August|||2023|2022|2023|2022|
||||E'000|f'000|f000|E'000|
|Cash at bank|and in hand||ar751|3r590|2,673|3,337|
|The Company|has no borrowings|oroverdraft facilities.|||||





## 

## 

||Group|Group|Company|Company|
|---|---|---|---|---|
|At31August|2023|2022|2023|2022|
||E000|E'000|E'000|E'000|
|Trade creditors|107|101|107|101|
|Other creditors including taxation|418|352|432|352|
|Accruals|637|494|432|487|
|Deferred grant income|383|388|383|388|
|Other deferred income|176|478||345|
||si732|1,813|4354|1,673|



## 

|||Group|Group|Company|Company|
|---|---|---|---|---|---|
|At 31August||2023|2022|2023|2022|
|||E'000|E000|E000|E000|
|Brought|forward|478|2i353|345|2,030|
|Released|in year|(3o2)|(1,875)|(345)|(1,685)|
|Received|in year|||||
|Carried forward||176|478||345|



## 

|||Group|Group|Company|Company|
|---|---|---|---|---|---|
|At31August||2023|2022|2023|2022|
|||E000|E'000|E000|E'000|
|Brought|forward|388|448|388|448|
|Released|in year|(1o,o33)|(1o,848)|(1.0,033)|(1o,848)|
|Received|in year|10,033|1o,788|10,033|1o,788|
|Carried forward||388|388|388|388|



## 



## 

|Group|||Opening|Incoming|Resources|Gains/|Transfers|Closing|
|---|---|---|---|---|---|---|---|---|
||||balance|resources|expended|(losses)||balance|
||||E'000|E'000|E'000|E'000|E'000|E'000|
|Restructuring||reserve|437||||(2oo)|237|
|Production|reserve||2,002|||||2I002|
|Pension reserve|||2,6g6|||si490||4,186|
|Revaluation||reserve|868|||||868|
|Income and||expenditure|4(373|18,g21|(2o,84o)|(32)|382|2~803|
|Total Group||funds|10I376|18921|(ao,84o)|1,458|181|10I096|
|Company|||Opening|Incoming|Resources|Gains/|Transfers|Closing|
||||balance|resources|expended|(losses)||balance|
||||E000|E000|E'000|E'000|E'000|E000|
|Restructuring||reserve|437||||(20o)|237|
|Production|reserve||2,002|||||2,002|
|Pension reserve|||2,696|||1J490||4,286|
|Revaluation||reserve|868|||||868|
|Income and||expenditure|2i347|18,219|(2o,Bgg)|(32)|381|16|
|Total Company funds|||8,350|18219|(20,899)|1458|2.81|7i309|





## 

|At 31August||2022|||||||
|---|---|---|---|---|---|---|---|---|
|Group|||Opening|Incoming|Resources|Gains/|Transfers|Closing|
||||balance|resources|expended|(losses)||balance|
||||E'000|E.'000|E000|E000|E000|E000|
|Restructuring||reserve|437|||||437|
|Production|reserve||2I002|||||2i002|
|Pension reserve|||1I015|||1681||2,6g6|
|Revaluation||reserve|868|||||868|
|Income and||expenditure|4~054|1.9,917|(20,285)|(3)|590|4r373|
|TotalGroupfunds|||8,376|19I917|(2o,185)|1,678|59o|1o,376|
|Company|||Opening|Incoming|Resources|Gains /|Transfers|Closing|
||||balance|resources|expended|(losses)||balance|
||||E.000|E000|E'000|E'000|E000|E000|
|Restructuring||reserve|437|||||437|
|Production|reserve||2,002|||||2,002|
|Pension reserve|||2i025|||1,681||2,6g6|
|Revaluation||reserve|868|||||868|
|Income and||expenditure|3,855|16,568|(18,662)|(3)|590|2,348|
|Total Company funds|||8 177|16,568|(18,662)|1,678|590|8,351|





## 

## 

## 

|Group and Company|Opening|Incoming|Resources|Revalue|Transfers|Closing|
|---|---|---|---|---|---|---|
||balance|resources|expended|||balance|
||E'000|E000|E000|E'000|E'000|E'000|
|Seligman Trust|76|||(2)||76|
|Schaefer Bursary|18|||||18|
|C Ball Bursary|3||||(3)||
|Parry Family Bursary|11||||||
|Other|242|267|||(155)|354|
|Total restricted funds|350|269||(2)|(158)|459|



|Group and Company|Opening|Incoming|Resources|Revalue|Transfers|Closing|
|---|---|---|---|---|---|---|
||balance|resources|expended|||balance|
||E000|E000|E'000|E000|E000|E000|
|Seligman Trust|74|||||76|
|Schaefer Bursary|18|||||18|
|C Ball Bursary|5||(2)||||
|Parry Family Bursary|11||||||
|Dunard|300||||(3oo)||
|Other|247|232|||(237)|242|
|Total restricted funds|655|234|(2)||(537)|350|





## 

## 

## 

|Group and Company|Opening|Interest|Resources|Revalue|Closing|
|---|---|---|---|---|---|
||balance|income|expended||balance|
||E'000|E'000|E'000|E'000|E'000|
|Mary Warner Trust|si432|38||(3o)|1I440|
|RWPethybridge|514|14||(12.)|517|
|SirJohn Moores Award|||(23)|(2)||
|Seligman<br>Legacy||2.,336|||1336|
|RolfOlsen Fund||400|||400|
|Total endowment|1969|sr790|(23)|(43)|3,693|
|funds||||||
|At 31August<br>202'2||||||
|Group and Company|Opening|Interest|Resources|Revalue|Closing|
||balance|income|expended||balance|
||E'000|E'000|E000|E000|E'000|
|Mary Warner Trust|sr394|40||(2)|si432|
|RW Pethybridge|501|14||(1)|514|
|SirJohn Moores Award|74|2|(53)||23|
|Total endowment|1969|56|(53)||1,969|
|funds||||||





## 

## 

|Group|Unrestricted|Restncted|Endowment|Total|
|---|---|---|---|---|
||funds|funds|funds||
||E'000|E000|E000|E000|
|Tangible fixed assets|1,482|||1,4.82|
|Fixed asset investments|&i537|54|si447|3,038|
|Net current assets|2,891|405|2,246|Si542|
|Pension reserve|4,186|||4,1.86|
|Net assets|10096|459|3693|14 248|
|Company|||||
|Tangible fixed assets|1,482|||1,482|
|Fixed asset investments|ti537|54|&i447|3,038|
|Net current assets|104|405|2,246|2i342|
|Pension reserve|4,186|||4,186|
|Net assets|7r309|459|3,693|11461|



|Group|Unrestricted|Restricted|Endowment|Total|
|---|---|---|---|---|
||funds|funds|funds||
||E'000|E'000|E'000|E000|
|Tangible fixed assets|2&543|||2&543|
|Fixed asset investments|1,336|64|1I715|3,115|
|Net current assets|4,801|286|254|Si342|
|Pension reserve|2,6g6|||2,6g6|
|Net assets|soi376|350|1.,969|12r695|
|Company|||||
|Tangible fixed assets|11543|||1I543|
|Fixed asset investments|1,336|64|1,715|31225|
|Net current assets|2i775|286|254|3z315|
|Pension reserve|2,6g6|||2,696|
|Net assets|8350|350|1969|soz669|





## 

## 

|||||Assumptions||
|---|---|---|---|---|---|
||||31August zo23|31August 2022 31August 2021||
||||'Vo p.a.|Vo p.a.|o/o p.a.|
|RPI Inflation|||3.25|3 50|3.3i&|
|CPI Inflation|||z.go|3.05|2.80|
|Pension increases (Pre|April zgg7 in excess of6MP)|||||
||||3.0|3.00|3.00|
|Pension increases (April 2997 —April zoo5)||||||
||||2.75|295|2.75|
|Pension increases (Post April zooS)|||2.00|2.05|2.00|
|Discount rate for Scheme liabilities|||5 40|4.30|1.75|
|Longevity for member|currently|aged 65r||||
|Male|||21..2|21.9|21.9|
|Female|||23.7|243|24 3|
|Longevity for member|reaching|65in zo years:||||
|Male|||22.2|23 2|23.2|
|Female|||24.8|25.7|25 7|





## 

## 

|||||Fair value ofassets|Fair value ofassets||
|---|---|---|---|---|---|---|
|||||31AUQ Ust 2023|31AugUst 2022|31Aug us't 2021|
|||||E000|E000|E000|
|Equities||||7i427|7r952|9,686|
|Index-linked<br>gilts||||5i9»|6,o74|7i920|
|Corporate bonds||||1,498|1j541|si770|
|Other||||85|81|78|
|Total||||14i931|15,648|29i454|
|Reconciliation|offunded status to balance sheet||||||
||||||Value at|Value at|
||||||31Augus't 2023|31AUgust 2022|
||||||E000|E'000|
|Fair value ofScheme||assets|||14,931|15,648|
|Present value offunded defined benefit obligations|||||(1o,745)|(22,952)|
|(Deficit)/surplus|||||4,2.86|2,696|
|(Liability)/asset|recognised||on the statement offinancial position||4,286|2,696|
|Analysis ofprofit and||loss|||||
||||||Value at|Value at|
||||||31.AugUst 2023|32.AUgUst 2022|
||||||E'000|E'000|
|Administration|expenses||||||
|Net interest cost|||||(116)|(17)|
|Past service cost|||||||
|Expense recognised||in profit and|||||
|loss|||||(226)|(17)|





## 

## 

|||||Value at|Value at|
|---|---|---|---|---|---|
|||||31AUgust 2023|31AUgust 2022|
|||||E000|E'000|
|Opening|defined benefit obligations|||||
|||||»J952|18439|
|Administration<br>expenses||||||
|Interestcost||||548|320|
|Remeasurement(gains)/losses||||||
||Actuarial<br>losses on Scheme liabilities||in|||
||respect ofassumptions|||(2,271)|(6,473)|
||Actuarial<br>losses on Scheme liabilities||in|||
||respect ofexperience|||359|1026|
||From change<br>in demographic|assumptions||(429)|(13)|
|Net benefit paid out||||(414)|(347)|
|Past service cost||||||
|Closing|defined benefit obligation|||soi745|12i952|
|Changes|tothe fair value ofScheme assets|||||
|||||Value at|Value at31|
|||||31AUgust 2023|AUgust 2022|
|||||E'000|E'000|
|Opening|fair value ofScheme assets|||15,648|29i454|
|Interest|income on Scheme assets|||664|337|
|Actuarial|gains/(losses)|||||
||Return on Scheme assets less|interest||||
||income|||(967)|(3,796)|
|Contributions<br>by the Company||||||
|Net benefits paid out||||(414)|(347)|
|Closing|fair value ofScheme assets|||24r931|15,648|
|Analysis|ofamounts<br>recognised<br>in the|Statement offinancial activities||||
|||||Value at|Value at31|
|||||3'1AUgUSt 2023|AUg Ust 2022|
|||||E'000|E000|
|Return on Scheme assets less interest||income||(967)|(3,796)|
|(Losses)/gains<br>on financial assumptions||||2I271|6,473|
|(Losses)/gains<br>on demographic<br>assumptions||||429|13|
|Experience Gains on Scheme liabilities||||(359)|(1,o26)|
|Total (loss)/gain||||ii374|1,664|
||||||50|





## 

## 

||Value at|Value at|
|---|---|---|
||31AUgust 2023|32.AUg Ust 2022|
||E'000|E'000|
|Interest income on Scheme assets|664|337|
|Return on Scheme assets less interest income|(967)|(3,796)|
|Total return on Scheme assets|(303)|(3I459)|



## 

|Years to31August:|Years to31August:||2023|2022|
|---|---|---|---|---|
||||E'000|E'000|
|Turnover|||2(422|2i395|
|Cost ofsales|||2I410|2i295|
|Gross profit||||100|
|Administrative|expenses||(8)|(5)|
|Operating<br>profit/(loss)|||(7)|95|
|Gift Aid to parent company|||||
|Profit/(Loss)|before taxation||(7)|95|
|Taxation|||||
|Profit/(loss) forthe financial year|||(7)|95|
|The aggregate ofthe assets, liabilities||and funds was:|||
|At31August|||2023|2022|
||||E'000|E000|
|Assets|||542|572|
|Liabilities|||(572)|(595)|
|Shareholderfunds|||(3o)|(23)|





## 

## 

|Included within turnover|Included within turnover|and cost ofsales is inter-company|and cost ofsales is inter-company|trade||||
|---|---|---|---|---|---|---|---|
|At31August||||||2023|2022|
|||||||sooo|eooo|
|Sales||||||183|287|
|Purchases||||||2,418|2,y46|
|Amounts outstanding||atyear|end|||185|104|
|Statement ofChanges||in Equity||||||
|Company||||Share|capital|Profit and loss|Total|
||||||s|reserves||
|||||||s|s|
|Balance at 20 September 2o21|||||90|(118,4o9)|(118,319)|
|Yearended31August|2o22:|||||||
|Profit and tote Icomprehensive|||income forthe year|||95899|95i299|
|Distributions<br>to parent||chanty|under gift aid|||||
|Balance at31August|2022|||||(23'220)|(23,12o)|
|Year ended 31August||2023:||||||
|Loss and total comprehensive|||income forthe year|||(&.242)|(7,242)|
|Balance at31August|2023||||90|(30i452)|(3o,362)|





## 

|Years to 31August:|Years to 31August:|Years to 31August:|2023|2022|
|---|---|---|---|---|
||||E'000|1000|
|Turnover|||11I621|10,870|
|Cost ofsales|||(11I6o8)|(1o,85g)|
|Gross profit|||13|11|
|Administrative||expenses|(13)||
|Operating<br>profit I(loss)|||||
|Profit/(Loss)||before taxation|||
|Theatre tax relief on productions|||2,814-|2I044|
|Profit retained||in subsidiary|2,814|2I044|
|The aggregate||ofthe assets, liabilities and funds was:|||
|At31August|||2023|2022|
||||E'000|s 000|
|Assets|||2,829|2I056|
|Liabilities|||(13)|(7)|
|Shareholder|funds||2 816|2I049|





## 

## 

|||||2023|2022|
|---|---|---|---|---|---|
|||||e000|e000|
|At 31Augus't||||||
|Sales||||11,621|10870|
|Purchases||||11,621|10870|
|Amounts outstanding|atyear|end||||
|Statement ofChanges|in Equity|||||
|Company|||Share capital|Profit and loss|Total|
||||e|reserves||
|Balance at ss September 2021|||100|327I233|327833|
|Year ended 31August|2o22:|||||
|Profit and tota I comprehensive||income forthe year||2,040,584|2,o4o,584|
|Distributions<br>to parent|charity|under gift aid||(312,133)|(322i233)|
|Balance at31August|2022||100|2,o45,584|2,o45,684|
|Year ended 31August|ao23:|||||
|Loss and total comprehensive||income forthe year||si824i398|*.814r398|
|Distributions toparent|charity|under gift aid||(2,o43,568)|(2,o43,568)|
|Balance at31August|2023||100|2 816414|2 816514|





## 

## 

|At 31August|2023|2022|
|---|---|---|
|Income received|454|68|
|Funding awarded||(3oo)|
|Debtor|||



|At 31.August||2023|2022|
|---|---|---|---|
|Investment|income|34i035|33'705|
|Bursaries applied for||20,000|20~000|
|Debtor||1o7,276|59,248|
|Creditor||21,740|20,000|
|Value ofportfolio||1,015,958|1,041,788|





## 

## 

|Incorporating<br>the <br>Years to31August:|income and expenditur|e<br>account|forthe year end|ed 31August|2o22|||
|---|---|---|---|---|---|---|---|
|||Note|Unrestricted|Restricted|Endowed|Total|Total|
||||funds|funds|funds|2022|2021|
||||E000|E'000|E000|E'000|E000|
|Income from:||||||||
|Charitable activities|||4(15(i|||4(150|107|
|Donations|||592|182||774|2054|
|Legacies|||82|50||132|3i(3|
|General grants||28|1o,848|||1o,8r,8|11,098|
|Trading income|||2,156|||2 156|1(091|
|Investment<br>income|||44||56|102|78|
|Tota Iincome|||17,872||56|18,162|13(731|
|Expenditure<br>on:||||||||
|Charitable<br>activities|||17(750|||17(752|10(414|
|Raising funds|||356|||356|334|
|Trading expenditure|||2,o61|||2,061|1,185|
|Total expenditure||2b|20(167|||20(169|11(933|
|Net (losses)/gains<br>on investments||7b|(3)||(3)|(6)|492|
|Net income/(expenditure)|before tax||(2,2g8)||53|(2(013)|2(290|
|Taxation||18|2(i(44|||2(044|3s.2|
|Net income/(expenditure)|forthe year|3|(254)|232|53|32.|2,6oa|
|Transfer from restricted funds|||537|(537)||||
|Other gains/losses||||||||
|Actuarial (losses)/gains<br>in|the defined benefit|17|1,664|||1,664|2,287|
|pension scheme||||||||
|Net movement<br>in funds|||~2000|~0||~26|~8|
|Fund balance brought forward|||8(376|655|1(969|s1(000|6(211|
|Fund balance carried forward|||~20 o<br>6|~o|~26|~22 6|~22 000|





## 



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