Roglstored numb•r: 0124355
Charlty numbèr. 271041
NORWICH PUPPET THEATRE TRUST LIMITED
(A company limited by guarantee)
UNAUDrrED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

NORWICH PUPPET THEATRE TRUST LIMITED
IA comp•ny 11mll￿ by gU￿ni••)
CONTENTS
Pag8
Refernnc• and admlnlstratlv• d•tslls of the charlty. Its Irustws and advlser¥
TNstse$' report
2-12
Ind•p•nd•nt •xamln•rfs r•port
13
Stat•m•nt of flnanclal actlvlll
14
Balan￿ ¥htht
15
Notes to th• flnan¢lal sl•tem•nts
16-29
Tho followro pty88 do Ml fo(m part of the slalutory financial statem&nls'.
0•tall￿ In¢om• and •xp•ndltuv• •¢￿unt and summarles
30-32

NORWICH PUPPET THEATRE TRUST LIMITED
IA Ilmll¢d by gu￿n￿•)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CH￿TY. ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2022
Trustees
N C Hopkins. (Jwir
M Pilman
D-L J PinchiNd
M Callln
N Gray. Honorary Treasurer
M Chandler - resigned 2 Dec 2021
P Roffe
P Beck - resigned 20 Nov 21
L Maclean
E Clarke
G J CovAey
JATod
S Goslin- appoint￿ 14 April 2022
Company rnglstered numb•r
01243558
Charfty reglstered numb•r
271041
Reglsterèd offic•
St Jamos. WhilefriaTS. Norwi¢h. NR3 1TN
Company $o¢r•tsry
l B Woods
Independenl Ex•mln•rn
Larking GOV￿ LLP. Kiry Stroet Fbuse, 15 L4)per Kiry Street. NoTh4rych. NR3 1RB

NORMCH PUPPET THEATRE TRUST LIMITED
(A company 11m1t￿ by guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2022
OBJECTIVES AND ACTIVITIES
2021-22 has been another challengiThJ year for Nowch Puppet Th&alre, due lo th& ongoing uncertainly of the
global Coronavirus pandemic. Alon9 With the pressures on audience finances f rom the cost of living Crisis.
COVID continues to cast something of a shadow over our audiences and participant numbers, the way we wo
with our parlners, aml upon our day lo day operations. Hower. w8 have responded quickly. positively and in
a safe way lo this uncertainty, and the conlinuir¥J changes in guidance about how Y￿ can work. We have
continued lo deliver a varied programme of performances. workshops. p rojecls and volunteer opportunities, in-
person. through 'blended' delivery. and Ihrough online platfomis.
Artisti¢ progress 2021 Q2
In June 2021 we took our production of Pied Piper on thè road again arwj perfomed al Notlingham Puppetry
Festival and al Bog nor Puppet Feslival. In July we hosted Norwich Pride. who ran their online events from the
Thealre. August saw us njnning a range of summer aclivities for young people, including workshops through
the Norfolk County Council's Big Holiday Fun Programme. Teatime Sloryielling and Family Friday Workshops.
Our touring production of Beastly Belle. cul shorl in 2020. when the country went into lockdown, was brought
back lo life in October 2021. The production went on lour to venues. sclK)ols. village halls and 1Sb raries across
the UK, with a concentration of perfomiances in Norfolk and Nomch. Although Ihere were some venues and
schools vtho had booked in 2020. who financially became unable lo re-book. the produclion saw 17
perfomiances as far away as Dotsel arvj with 8 good presence in Lor¥Jon. The feedback from audiences,
venues and schools was exlremely posilive. We were very pleased to see that some schools booked the
production for their 'Chrislmas entertainment.. an important part of our income streams. The prod uction was
also filmed and captioned. so that il could be made available online arKI accessible lo deaf and hearing
impaired audiences.
October 2021 wwakenino. In October the Theatre reopened and relaunch￿. Coletie Ganigan, who joined
Now¢h Puppet Theatre in February 2021 as the new Theatre Director. brought wth her a number of shows
that she had developed with her own company Cie Akselere in France. In hall-lem of October 2021, the
Theatre reryopened lo socially distanc￿ audiences with her productions of 100 Years in the Forest, and
Sleeping Beauty. a show for adults. Both productions were positivety received and achieved good hou ses.
albeit vAth reduced capacity. Alongside Ihe productions. she presented a Halloween Storytelling lo school and
public audiences in our Octagon Theatre. Highly-acclaimed puppeteer Mark Mander. also perfomied his
miniature panlomime of Sleepiw Beauly Pocket Sized Panto., perfomiances of which had been cut short in
December 2020.
Also in October our Crealive Engagement team vrt)n the Education and Community Award al the Norfolk Arts
Awards.
In November we began rehearsals for our Production of Pinocchio. working vthh acclaimed practitioners Steve
riplady and Liz Walker (Faulty Optic}, composer Jonathan Lambert. and two teams of puppeteers. The
production received lottery funding from Arts Council England. In a process much altenualed by the pandemic
impacls on assembling a creative leam, COVID procedures for developing and Ihen perfonming, our strong
artistic team created an original Production of the classic tale Pinocchio. We used puppets. actors. shadow5,
sound, music and lighting to engage children 4y￿* and Iheir families. Our R&D worf( built the naffalive of the

NORWICH PUPPET THEATRE TRUST LIMITED
IA Company Ilmlted by guarante9}
production to three main messages: believe in yourself - stay true lo yoursell and your beliefs, our Individual
voices - speak up for yourself. and mistakes are r￿1 failures but Tathw opportunities for leaming. The
production linked to the national curriculum Ihemes of wellbeing aThl buildirMJ confidence.
The show was hugely imaginative. visualty stimulaliNJ. Ilv)ught provoking, exciting and fun. Devised and
rehearsed over a three week period before il was premiered in December 2021. il was perfomied in-house with
32 shows over the festive period. and 12 linked workshops. The audience feedback was extremely positive and
we were able lo use the feedback and reviews in our marketing malerial for our spriro lour of the production.
Covid Omicron hil the UK al the end of November into Christmas so we again had reduced number for our
performances. Our income potential was thus reduced by over 50%.
The show was performed with 2 teams of 2 perfom)ers %thich proved vital as the puppeteers were able lo
understudy each other irb cases of positive covid results. as well as providing sustainable employment for four
¢realives. The production was filmed so that we are able to provide digital conlenl for schools and other groups
lo engage wlh, Il*reby in¢reasing access to our The national spriThJ tour from January to April 2022.
with 33 performances to 12 venues. 4 village ￿lS in rural locations, one visitor allra¢lion, one job centre. and
directly lo three schools. and feedback on social media slK)ws a posttive response.
Alongside the Pinocchio production. a linked education-based project called School of spectato￿ was
launched. This was f unded by Anguish's Educational Foundation. working wlh Wensum Ju nior School. This
part of the proje¢l aimed lo empower young people to engage aThJ appreciate puppetry and theatre as a
speclalor. through a series of w)rkshops. visits to professional rehearsals, and by creating Iheir own shows.
The students really engaged in the workshops. perfomiances aNJ visits lo the Theatre, creating their own
puppets and puppet shows back at s¢￿)01 and creating filmed documentary of the project. that can be viewed
by other schools an(J young people.
As the financial year close(S. we worked with Maker and Director Peter O'Rourke on a revival of our Red Ridir
Project originally made with him in 2011. Unfortunately. the grant funding lor re- development was not
forthcoming but advance commitments made to the artists needed to be IK)nored for the integrity of our
programme and reputation with the puppetry communtty. Furthermore. the adva￿ed bookings for the Easter
Ihealre wn reflected the nalionwde Irend in audience caution lo book earfy. This experience has infomied our
approach both lo audience engagement and lo production management.
Partnership working
Our way ol Wofkiro is critically dependent on partnerships. Our wde range of partnerships across the regional
arts ecology, with puppetry companies across Ihe UK and with many artisls a¢TOSS the UK: we think we are
good to work wlh and dependable and imaginative. open lo the ideas and proposals of others.
With artists
Wilhoul a pemianenl company of performers we S￿ very depen(lent on good relations wlh artists who engage
in our production projects, in-house runs and tours. The response we get lo calls foi proposals demonslrales a
level ol Irusl. Each freelance specialist involved in our pffjjects brirrtJs skills and experience that is integral to
the breadth ol each project's success.
We also work in partn￿Ship with other puppetry companies in coyroduclion models and wth organisalions as
Co-commissioners. Our venue and operational processes help puppetry community al large by providing
access to audiences and fee income for their work.
With schools. libraries and care providers
Our projects arKI operational delNery with Sc￿01$ involves close workiNJ wlh their staff lo match and

NORWICH PUPPET THEATRE TRUST LIMITED
(A company 11m1t￿ by gu*rant•e)
customiso ow swvices and skills lo thwr specific18amlrs aims aThJ C￿l¢￿IuM Ihomes. We put a lot of effort
into confim7iThJ reqirirements collaborntivety ￿ lo prolos$ion41 d*velopm8nt of teachers in the 8peclflcs of the
activitiOS.
Our woth wlh looked4fler chibdren *Jdres888 many areas of sensrtivily, and in these cases professional
developmenl for our I￿￿SIK1P leaders arKI volunteers as well carers 8nd social wDt1(ers. Emerging new work
th or9anisalions Wpir*J Vlilh yourg people with complex needs is also helping us devèlop skills in
accessibility aTrJ communications. Such joint developmenl is gwtly helped by good partnering skills by all
sldes.
Ingvit8bty ail of tI*se orea5 roquirn rigoTOU5 cross-oryaThsational safw3uardir*J policies and practices, and we
have recently wdated IrainiThJ. stnKtur8s •xl policies.
We conllnue lo y￿rk In Partr￿shIp lo meet community needs arKI offw C￿alIVe programmes wlh:
Charitie5 - 8Teak Charity most recenlty on I￿odIaTr￿ rehabilitation in Wrongs Covert
)rfolk and Fèstival - Festival Bndge.
LOC￿ autFK)rity commissionets - Norfolk County cou￿11. Nornich City Comcil.
Specilic public seNice pnviders - Norfolk Library *KJ Museffits SeNice, Norfolk Record Office and Archive
Cenlrv. Norfolk Rggislration SeNic8 Weddirwj Cergmonies Team
Local enterprise and sponsor5 - Norwich Bu51r￿S Improvement District. Bro&Js ALrtIK)rity
Other creatives - many local theatre companies need a rthea￿al perfoming space, Curious
School of Puppetry, C￿bridge Youth Opera, Pw)peteets UK. Tols to Teens.
Many collaborations vAth $ch)ols. venues. louriThJ ne1%￿￿$. festNals. across UK.
Impacts and Re$pons• lo COVID-19 Pandwnl¢
As wlh all Ihealres. our NK)rf( has been extremely curta"1gJ duiro the paThJemic as ow do0￿ closed to live
audiences for a 519nificant p￿10d of time. Trms d￿lMat&￿ verwe hire. in house 8ThJ tourirKJ ticket sales a￿1
front of house irKome. Ow suNival stralegies have I￿1￿￿￿.. ￿)Irt *Drking. I￿XIble furt0￿h. use of our
reserves as core fuFKlii¥J. &ce5sing kickstart ar￿ eM￿genCY fuTrJiro slieams wherever p ossible.
We took this enforced opporlunily to review our stralegic vision - bolh creative aThJ financial. staffing needs,
pollcles a￿1 procedures. bvsiress plan aNI use of t￿1￿ sp￿e$. Additionaly ￿ continued to use the theatre
space in safe creative bubbles lo organise. create aTrJ rehearse Sho￿ aknNJside ￿fUrbI5hlng our fronl of
house bar area wlh a view lo irKTeasing irKome over ￿ k)rvJef turn.
Determined lo meet community need for artisttc ouuets and positive inspir81ion this drff￿ ult and Isolallng
lime, we sold puppet makiNJ kits a￿1 I￿rease￿ our Onli￿ conlent *ith CTealNe ￿￿rkshops. behind 4he-5cen&s
peeks and perf0M)w￿es aim&J at famity &MJiwKes. O￿lne contwl was as I￿luSive a5 possible with
sublilles and sign language.
As per govemment guidelines we took a bleTrJed online a￿1 in*a50n approach ar￿ cautiously opened our
doors lo ￿duced capacity a￿dIer￿eS for live perfomiwKes. volurleef opportuniti85. projecl WKI Wofkshops.
Unfortunately. uptake Wds slow and our income stwms continu￿1 to be af1￿ted.
Organisatlon•l Dèvelopment and Managèmènt
The Theatre contiwes to be managed by an EX￿Ut1¥e Committee *hich reports to tho Board. Tho Executive
Committee meets lortnightly and is made up of the Theatre Director, Fin￿la1 cont￿ller. ￿ Chair of
Trustees. Tnjslees an(J the Ex￿Ul1Ve of the Theatre continued lo meet 0￿1r* th[D￿h Ihis period: Ihre8
mèmbers of stall pul on Furfough, vANlst full lime m￿b￿S of staff and orn part-lime member of $laff

NORWICH PUPPET THEATRE TRUST LIMITED
IA comwy Ilmlt•d by gu*dntèe)
fked from ￿me aThJ sometimes in the buildlNJ. Staff not fu￿ughed wothed wlh freelance artisls
to provlde online content.
As 8lal8d in ow previoL￿ Annual Rq)ort. in Fetsru￿Y 2021 OperntKins Managgr k4n Woods rglirgd and the post
was taken up by experienced puppeteer Colette arKI retitled as Theatre Oireclor. Colette relocated to
NoNch aThJ began a process of devek)piNJ a bus1r￿S plan lorthe oryanisation. She look up the post al
an uncertain time for arts orgaThsalions. dwiry global PaThYern￿.
The organisalion applied and secured furNJiNJ from the Arts Cou￿11.8 c￿￿ra1 ￿0very FuThJ {second round
ond Continuity). AloTrJ wth funding for cole costs. furnsing Wds pmvided for repwiosing spaces 8ThJ upgraditvJ
of equipment lo improve online eonlenl. Our bar area rebuilt lo be more flèxible for a Y&1￿Y of events and
Improve acoessibilily. aThJ our office spaces wwe refurbishwj lo Jlow morg efficient ways of ￿n￿1n9. We
ongaggd local company Osiris lo upgrade our ￿ system so that staff could I￿rk from venug or at ￿)me
going fornard. The organisalion en9aged Iwo Kickstart employees dwng the earty part of the s￿mmer. wth
one employee workiThJ on developing Ihg Theatrg's archtves and other supporting lkntre's
Jminislralion and markelir4J department.
Our Creative Engagement Co-ordinalor V*pnl on malemity leave in July. In A￿U$l the organisalion brought in
rts practitioner Petef 8eck to assist Colette Ga￿lgan in the assessment of roles and responsibilities al the
Theatre. and to help with a nLYnber of operational tasks. kn September staff who had been furfoughed relumed
lo vJilh some twre hires s￿h as ￿￿￿dIrVJS aThY Tetrwals taking place.
One of our employees was laken on full time as Tralre Administrntof at the etNI of their Kickslart placement,
the post of malemity cover for our Creative EThJaJement Coordinatorwas Illlèd. a gr￿uate from Norwich
University of the Arts joined us on a graduate S¢￿1e to ¢ontirw ow archive Proj￿1. a r*w Kickstart
employee began their placemenl fron1￿f￿0USe.
Al the end of September. Colelle Garrigan reSigr￿d as Theatra D¥èclor. hef notice al the theatre aThJ
Ihen remotely until tho end of Dèeomber. Peter Beck vra5 put in placg as xlir#J Thealre Director. and in
January 2022 became the new Theatre Director. Peter lrnin8d as 8 Th8alre Director aThJ has VK*rked
extensively in th6 industry as 8 Dlreclor. Arts Manager. S61 Designer ￿ Tutor.
Analysi$ and Fobward Look
Our Financlal approach
The year from April 2021 did not see a signrficant emwgence from p￿emIC restrictions as earfy or as fully
as hoped. From July, Ihe ecoTh)my "ope￿d up ￿ ￿SInc110n8 removgj, this vas ￿1 paralleled by
audiencè sentiment in tfj￿$ of their confiderKe to TetLTh as before lo arts Ven￿$. On lop of this there has
been a trend lo last minute bookiw making plannivJ difficthl. Fthlhernore (knicron W￿1ant othbreak arKI
widely available leslin9 resulted in even greater visibility kncally nationalty of chIl¢j￿ and 8d utls lesliryJ
positive. resulting in sell isolalion of families. aThJ staff S￿rtageS. The Govemmenl's Plan B regulations over
Christmas 2021 consolidated the impact on a￿llence take up of our offered programme.
The fInar￿la1 Impact ol Ihls has been challengiNJ. Our aCCOLmts show total eamings rose f￿M £244,48010
£253,￿1. Of this. once again. a very large proportion camè from grants, slightly increased at £167.312, bul In
2021-22. this included project granls of £41.949 received as Investment In successful new productions. Thls 1$
refkcled In Sbgnlficant Wtist￿ expeTrJiture on artists, fees of £69.791.
This gmss If¥Aling SLKplus of £137.173 has pmved iff6uffscient lo offset increasing company èxpenses as we

NORWICH PUPPET THEATRE TRUST LIMITED
(A company Ilmllod by guarantse)
managed two changes in leade￿hIP arKI rebuilt capxity to resume ow delivery of public benefit. Thégé factor8
accounta for a substantid rise in core expenses from £118.77110 £153,457.
Judicious management of the public fur¥JirwJ under CJJltural Recovery Fund in particular allowed the Company
lo fund the fvgulling deficit from f un(Is brought into this year of £62.712. takirg into ￿cOUnt the fuff illmenl of Ill
obllgalions where funds were subjecl Reslricle(I pU￿OSe$. This olfset a net trading deficit (loss) in year of
£52.231. Dve to timiws of various receipts and disappointirwJ reven￿$ from our revived Red Riding Hood
production for E8Ster 2022. the management team has rigorousty Iocu5ed on finan¢ial pwdenGe as post
P8ndemic artistic activities Tamp up.
Our board has analyzed lessons leamed from this environment aTrJ recognises that our thèatrè Y￿uld not have
survNed wthoul public furK5ing in lockdown. This fwdir4J Includ￿ 2 substantial Cultural Recovery Fund
Grants of £42.000 each of Nthich were aimed al suslainiThJ employment and the safe operation of our venue
and preserving reserves. This was complemented by the reducing levels of public funding through the
Coronavinjs Job Retention {Furlough) Scheme and Covid Business Svpport Grants.
The executive committee has made rebuilding effectrve free reserves from the position reported in these
accounts its priority Ihrough an ambitious and well-resourced pursult of grant income and diversified eamed
income. Thls is underpinned by diligent cost and cash management is reVIe￿d and the company proceeds
through thè f irsl quarter of 2022-23 fulty ablg lo pay ils bills as they fdl due.
Further analysis of fin8rtial perfomiance is shown graphicalty in the followirwj figures.
Income Comparison 2021 and 2022
Total 2021 - £244.480
2022 - £253,001
200.oc
180,0
160,000
140.000
120.000
100,000
80,000
60.000
40,000
20,(KKI
Mar 21
Mar 22

NORMCH PUPPET THEATRE TRUST UIAITED
IA company Ilmlt•d by guwantso)
E>penditure Conyarison 2021 and 2022
Total 2021 - £211,980
2022 - £305,322
180.OCQ
160,LK(I
140.000
120.000
100,(KK)
80.000
60,000
40,0
Mw21
•M*22
Forward strategy
Rather than operating clo¥¢d dovm vrith the IWTe"dwk". vknich hove involved rn productr¥e
engagement al all with audiences and stakeholders. the thrity has erNjeavow￿I to use Ihese funds to biild
for the future as well as tho presffit. Th8$e IrKI￿ed the am for
Arti8tic prolects with Investment fffjm Arts COU￿11 fordevelopment bui break ev￿ of f irst year In IKtruse aNI
touring arKI profitable beyond that
Cfeative leanwry actlvilbe8 genernte a swplus aThJ all￿1 Pfolect grant Investment from a rnnge of
furn1￿$ local wthorflSes
our business plan. almlrwj for sufficient creatlve. educatbnd aclivltles lo grow eamed
Income rever￿ b&k to £8(k this year •KI then the year aflor. In the 2022-23 year. 3 erealive
developmenl projects planrnd, 1 of vknich is alreaJy funded ￿mIer4￿Y, a￿j a f urther 2 in the ngxt.
These are all intended lo add to our portloiKJ lor eam￿l Ir￿Me rny￿.
Secured fundlng for th8 nv•¥ Std and Wes Fight the Flood prolecl V4ill ènable us to raise inco me vla ticket and
fronl•of hous¢ 88108 in August 2022 aTrJ may bè further grnnl funded lor a folknw4JP tour. Subject to a curr6
funding 8pplicalion, Ihe devdopmenl of a further nth¥ p￿duCtIon, 8 ¥￿1 kTh)vm seasonal lairy lale will
raise rgveThJ& Xm8$ 2022. We also will apply for fundirq for a third rw creative Shake5pear¢an-
Ihemed development pToiect. wthich will start wth a Spring 2023 lour followed up wilh in-1K)￿8 perfO￿anCeS
2 fwthw prol¢Gl$ for 2023Q4 ¥e cwrenlty beirwa planr*d aThJ in *ith our plamir*J modd. funding
applica110￿ thlll be submitted lo the Arts COU￿11 in dug courne.
Under Ihe le￿IeyShIp of Theatre DirKtor, stralegic thgmes we 8rnergty. NoMich Puppet Theatre has
mulli prorwJtd approach to &hieve our couse to financial suslainabilily. We continue lo dwersify and dèvelop

NORWICH PUPPET THEATRE TRUST LIMITED
(A company Ilmltsd by guarantee)
our creative offer lo grant funders. We are reinstatirwj partnerships ¥thich were.on hold. during the pandemic.
These partnerships generate revenue in relum foi our creative I￿rkshOpS and targeted events.
Increasing revenues will also emerge from increased utilisalion of spaces in our theatre for a mullilude of
workshops, hiring as a wedding and events venue, increasing front of hoLL8e income in OUT refurbished bar area
and by hosting more adull-oriented evenls which increase bar sales. This can be enabled by sourcing 9ranl
funding lo reduce our overheads by making our w£)￿ing space afyj vehicles more environmentally friendly and
cost efficiènt.
We have already invesled in facilities and infrnslructure during the lockdown and this is helping our eff iciency.
Examples include a redesigned bar area and we114Iesigned flexible desking in our office spaces. Through our
Green NPT initiative currently aim lo..
knprove the quality and sustainability of our theatre (hopefully wilh fu￿ling from Wolfsson Foundation and
olher grant givers). The feasibility ar￿ scope of this is being addressed eady in 2022-23.
To fil out a sustainable touriThJ vehicle as 8 mobile theatre foroutdoor outreach performance and education
offers through the summer al local festivals arKI activity weeks in patks and 18tes around our city and our
county.
During the pandemic, we have enlered upon a rolling update of ow understanding of current and wder
audiences to Tefine our vision. mission. and strategy lo meet needs in this changed conlexl, developing
capabilities and facilities.
Enhanced strategic marketing will position LTrS and our brand identity ￿1th the community. More diverse
engagement wlh further offers such as youth theatre. puppet making Skills development, and employment.
Thi5 marketing analysis is matched by financial analysis examinir¥J buSI￿sS viability of different strands of
work wth (Jifferenl groups.
Under twin banners of "Destination Norwich Puppel Theatre" and 'Green Npr. we will build the aeslhelic I
inleraclive quality of the venue, uplill the visitor arKI userfs experience - comfort. product, and
seNice. Buildino up our attractiveness in the touiism landscape. especially outsido the peak summer holiday
seasons. will shape a strong cultural offer for half leThn. Christmas and Easter holiday breaks.
By promoting our facilities through active ewagemenl are looking for modesl growth in otI￿r areas of
income, plus new programmes for corporate sponsorship. Investment in creative development projects will be
paralleled by Green NPT capital projects in the venue and for I0￿1ng.
We remain, as a result of this recovery stralegy, dependent of fundiro from local aulhorilies. Theal res Tax
Relief and trusts and foundations. We aim to s&ure unrestricted investment from these lo match levels pre-
pandemic. and over time reduce this dependence as we grow our reputation. reach and produclivily in delivery
ol public benefit.
Managgment ￿PacIty and Capablllty
We are working towards re￿StablishIng our pre-pandemic rdte of creative OLrtput. We are increasing the
quantity of workshops, performances (both in house and louringl and events as funding allows. Audiences are
cautiously reluming with a marked increase since Easter 2022 bul schools and cornmunity partners have
somelimes been hesitant lo commit lo events during this uncertain lime. The Cotnpany also faces signifieanl
cost escalation from fuel and other sources of inflation and so do our staff and our creative partners. Demands
on funders for their support have also gone up very substantially.

NORMCH PUPPET THEATrE TRUST LIMITED
(A wnyny Ilmlt•d by guwant••l
During Ihe pandemic we continued lo Invest in skills. delivery techiques, a￿1 I?￿ fxilities in our venue arKI
rking spaces. We also man8oed to sustain. indeed grow. cap&ty in the team aThJ maintain effective
rking relationships with freelancè cr6alivgS.
The nel result of this hos been that ￿ h8ve relained the skills and experience of our team aTrJ improved th6
functioning ol our venue, but Ihe impact on revenues has eroded rather than suslain8d r8swves. This means
our company starts the year 2022-23 wlh a lower baseline in cash available.
Nonelhetess, our ambitious bul reasoned plan is lo build back to pre-pandemic levels of artistic aclivily, with
deperKlfjncg on ACE project grant investmonts. and Jso lo continue Green venue improvements. audience
engagement aTrJ additional revenues by growing our wider ¥tivities.
We have relled upon ow depth of expedence In managlng successf ￿ projects delivering well-receivèd new art.
To do this. V•P I￿rk %*ll wth a we of vistting arKI resident artists: diTeclots, perfomers, designers. vniters
d musicians. We Ihink V￿ U￿1¢￿taThJ I￿r ￿8{15 and tw kjok lo ￿ for good Processes, rnanagemenl and
plannlThJ. We continue lo research review aUdIe￿e reactions and bookiTrJs, and evaluation ol our work In
order to adapt arwj impmve. We believe v* have proven ability over 40 Yea￿ to manage delivery of benellts,
budgets aThJ peopl8 Within the vwy tighl resource co￿81raInts over the pa81 ten year5.
Our team of employed staff (7 FTE) and f￿18ftce perforners, w)￿s￿p leaders and speclalisls lod by our new
Thealrg D1￿clOT. Peter Beck is an Arts Professional V•ith 25+ year5 experience of arts man8g&menl,
theatre direction aThJ Prod￿lI0n. $¢enic design constrLKtion. lecl¥)ical theatre. theatre trainirKJ and
education, ￿lling and performw￿e. He has bea) V•ith us $i￿e 2021. fuly as Thealre DirKlor sin¢0 111
January 2022.
He has been leadiro a Process of rgfinirrfJ roles r8sponsibilities to m*e us more adaptable lo roshaped
ngeds of the business, Strengthening the strategic le*Jetship roles of Theatre Director, producing and
education dopartmonls. ev¢nl$ aTrJ facilities man&Jemenl. marketiro ￿ technical managemènt and
operation.
The Theatre Director is supported by rigorous oversight by t1￿ Exgcutive Commiltetr (fortnighlly) and Board of
Trustees Imonlhlyl. Our Trustees ref lect many diffe￿nI perspeclNes.' finarKe. art and perfomiarKe. theatre
management, education, diversity and irtlusion. partnetships and stakelKJldws, corporate rnlalions and
communlcalions, and demonslrate their commitment in volunteer roles 8s ￿.
We have a strong C￿re of volunteers. helping with puppet- and set4nakirKJ. assistiwj ￿1th our crnatNe
aming V•vrkshops and fffjnt of ￿￿Se
LorrfJer lern ￿ have 8 goal of positboniThJ for Arts cour￿11 Natio￿￿1 Portfolio Slalus in 2025.
Dlvorslty, oqulty and Incluslon
Organisational diversity
The board has discussed diversity of ils trustees aNI is undertaking a review of our recruilmenl procedures
for the future. We have a rdnge of local aviser5 V*t plan lo draw on. We have appointed a new Iruslee of
cokjur wth legal, finance and artistic skills has also been leading the Norfolk Black and POC Creatives
Ne1¥￿￿. We are also revithbiNJ our chair and vica chair ffj18s aThJ SLtc•sslon procèssès and shè will help wrth
this topic.

NORMCH PUPPET THEATRE TRUST LIMITED
IA Company Ilmlt•d by gutn4ntsel
Our staff and artists profilè eonl1nL￿s lo rellect a good balance ol geThJer, Identilicalion ability, age and socio-
economic bockground. of our staff have significanl medical ¢ondition5. and one of our eurrenl artists
identifies as Ihoy . All our team email signaturns irKlude preferred pronouns. All our staff are particularly keen
lo put acce8slbilily al ihe hèart of our and lo address a)y issues wilh th& way we communicate or users
can navffjate veN8 In a former medieval cmrth.
A￿llence Oiversf(y aThJ inclu81on
We have *ilh thè local migr*rt commuThty on a pl￿e Call￿ Cycles Which tells their slory through
shadow Ihealre in a booth Show.
(Xjr latesl Pirn)cchio show has bLiIt on prov￿US projects in embeddirg swJnirvJ sublilles in some of the
performances. We have V•Drked ￿th ow accessibility specialist Lom8 Heap on several projects lo deliver
captioned. si9r*d and relaxed performances for deaf. heariNJ impaired and neuro 4ivergent audiences. The
captioning and $ignirvJ process crealed an opportunity lor our perf0m￿nCeS lo receive some 8ddilional training
In these elements. She wll contiwe this in our n8w project Stel and W&4 Fight the Flood.
A Community Needs Assessment pmjecl is planned lo lake this fUrt￿r for our new production project lo
6xl¢TrJ our reach lo thè comm¥Jnilies vthh these xcessibility Chall￿￿e$. We hope to build more proactive
relalSonshlps with local services aThJ charities wth these groups.
Participant Divetsity..
Wfj have rgvisited our policy processes for volunte￿5 are brirgiTrJ in irKJividuals. Our review of
recruiting Intstees wll also Wp us in t￿$. Ow communty needs assessment projects will explore how we can
further engage ￿th communities of drffe￿I abilities. soci0-￿r￿7m￿ groupirvJs. dhni¢ and culiurdl
backgrounds and gender Hjenlities.
We are also working wth local partners on creative puppety ¥tivities linked to outdoor leaming.and taking
shows lo a series of community arKI sFK)pping centres especial￿ in disajvanlaged wards. We have had a
successful partnership with V*r)rkeTS With kfycal migrant commurmties. irKludir¥J a short shadow puppet thealro
show in a -pop-up" NoN•ich Market stall as part of It￿ Lovelighl FestNal in February. We are keen to bulld
upon these links to do more y￿rk Vlith such gmups in Ihe mnlhs and years ahead.
Golng Concern
After makirg appropriate enquiiies. avw18ble fin¥￿la1 $￿pOrt Covid-19 Closure
Regulations from govemment SC￿Me$. ￿ wth a robust forvrdrd buSi￿S ￿ fundraising plan Ihal continued
lo deliver project and core fuThling awards through the f itst a￿1 s￿0￿j quarters of Ihe year 2022-23 . the
Tnjslees have a continuin9 r&3sonable expectation that the C4mpany continues lo be ab le to meet ils
liabilities as they fall due for the fo￿eeable future. This is enabknj by establisw track record ol effective
proactive cash flow management by the Executive Committee {on %%Eekly basis throughout the period of the
pandemi¢l and the Board lon a monthly basis). For this ￿8$on. tlw eonlinue to adopt the gOI￿j concem basis
in preparing the financial slalements.
Further (Jelails regarding the adoption of the goirwj cortem basls be found In Aceounliro Policios.
Reserves pollcy
The purpose of our reserves is to smooth the effective delivgry of b￿￿f11S to our usèrs over the finatKial cycle.
At limes such as the Covid parKlemic arnl emergence a￿1 recovwy from it, may need lo drnw on those lo
invest in new product and seNice development. or in or9anisational developmenl lo establish more suslainable
businèss operations.
Pa9e 110

NORWICH PUPPET THEATRE TRUST LIMITED
(A company Ilmlt•d by guarant•è}
th8 difficult period of tho p8312 XCOLKrtirvJ yws 8rKI to dale. I￿r• hav6 b&8n numemu8 occasions when
Ihe liming of payments of grant avfflls arKi amounts payable have be8n delayed boyond expeclalions,
I￿Jing fmm subslanllal aLrthorilies. Our present forètasl is Ihal cash reseNes at 1st November 2022 cover 4
10 6 weeks of opefaliThJ costs. a cuffenl pèak in cycle. Al times eartiw in the y&af. these liming issues have
rnaanl tho company has been faced with a ITOU9h in cash flow.and has drawn down frorn a loan facility
exlended by one of the Iwslees to cover immediale seltlemenl of bills as Ihey fell dug. This has been of the
naltjre of a slK)rt4erm bridgirKJ overdrafl lo ovwcom8 thè impact of delay and slow*ss in payments by the
¢oMp￿Y $ debtors. Ttrwo is ￿ ￿tIV9 repayment pkn for Ihese advwes irKluded in our cashflow
projections.
Tha feS8P4èS of charitablg company represent both unr8$lri¢t•J f mds arising f rom past operating results,
vthich incI￿jeS deswnaled furKls set aside by the Directo￿ lor fthure projec15. and Te51ricled funds where
income has been reC￿Ved for a specrfic purpose and is US￿ &Co￿l￿J￿.
)nelheless, the Iruslees *JheTe to a p0￿cY of maintainirwj ￿ServeS lo meet its p￿sent and ongoing liabilities
and we contiwe to hohj to t￿ aim of irKreasir#J and $ustainirvJ free reserves lo cover emergency events to 12
weeks or more of core operatirvJ cosls over Ihe r*xl ￿ years. Restricted funds stood al £Nil at 31 March
2022. The level of unreslricled ￿serveS held at the year4vJ Yras £10.391 of vthich mne were held as fixed
assets Iherelore. free reseNe5 slaTrJ at £10.391.
StruGturo, gov•rnanu and man•g•m•nl
a. Constltuuon
The Charity is wislered as a charitable compary limilwj by guwanlee ￿ Yas sel up by a Memorandum of
Association on ￿1111979.
The Charity is constituted urhjer a me￿wdLY￿ of AssocIat￿n dat￿ OY1111979 and is a Teg islered charity
number 271041.
The principal object of Charity remains ￿ Prod￿lI0n arwj p￿er￿t￿)n of puppet theatre shows.
b. Method of 8ppoSntment or election of Trustees
The management of the Charity is the Tesponsibilty of the Trustees tho ￿e elected a￿1 Coaopled under the
lemis of the Articles of Association.
c. Organisalional structure arKI decbsion makirwj
The chair of thelrustees is responsiblefor1￿ I￿lUcIl0n0I Iruslees vh¥ch invO￿e$ a￿are￿$S of Ihe Iruslee's
responsibilities, the charity's govemirvJ documenl. administra11¥8 prO¢￿ure$, tOget￿r wlh the history and
philosophical approach of the charity. A new Iruslee receives Cop￿ of the PTeVitiUS yearfs financial s18temenls,
annual report and a copy of the Charity Commissions leaflels providi￿ guidarKe for Intslees, as well as other
useful company reference materials shared in an O￿lne ￿j￿Ilon Pack folder.
d. Rlsk management
The Trustees have assessed Ihe major risks to 4thich the Charity is exposed. in particular those relatod lo th¢
operations and finances of thè Charity. a￿1 are Satisfi￿ that sysiems and proc*Jurès are in place lo miligale
our exposure lo the major risks.
Page 111

NORWICH PUPPET THEATRE TRUST LIMITED
IA ￿MPanY Ilmlted by gu•rante?)
Tru•ts•i' mpon*lbllltl•• •tat•m•nt
T￿180$ {vkn dso diraclors of Nop*ich Puppgt ￿atrfj Trust Limited for the purposes of company
baw) are responsible for prepariThJ Ihe Trustees. wiort a￿1 Ihe financia slatemenls in accordance with
applicable l•v aThJ United Kirydom AccountirvJ Slandwds {Unilod Kirsdom Gen8rally Accepted Accounting
Prncticel.
Company law requlres th8 Trusle8s to Prepare financial statements for financial year. Under company
law Iho Twslees must not aPp￿Ve linancial slalement$ unle$$ tw are satisfied that they give a true and
fair view of slate of affair5 of the charitable company arKI of lh8 incoming resoLKces and application of
resources, Sncluding Ihe income arnj expendilwe. of the chaiilable company for that period. In preparing thes8
financial slalemenls. Tw51egs required lo:
sdect Suitable accomtiTr3 policie8 th￿ apply them consislenuy;
observe Met￿d8 arKI piirtiples in thè Chwities SORP:
make I￿JgmentS wj accountirvJ estimates Ihal are Teasonable aThJ Pn￿ent.
prepa(e the financial statements on the goiNJ concem basis urt&ss it is irwjproprialo lo presurne that the
charitable compary conlirnje in opw*KJn.
The Trustees are responsible for keeping a(lequale accountiThJ ￿OrdS thal are sufficient to show and explain
Ihe charitable company's tI￿actionS and disclose V*ilh reasonable ￿C￿aCY at any time the financial posili)n
of charitable company and enable them to ensu￿ that the flA￿CIal slatemenls comply with the Companies
Act 2tX)6. They are also responsible lor safeguardiro the assets ol the charitable company 8nd hence forlaki
reasonable steps for Ihe prevention arvj delectK)n of f raLvJ and other iryularities.
This report was appmved by the Tnjstees. on 20 October 2022
wj signed on their behalf by..
N Hopkln$
Trustee, Chair
Trustee. HDnO
reasurnr
Page 112

NORWICH PUPPET THEATRE TRUST LIMITED
(A comp•ny Ilmlted by gu•rnnleel
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 MARCH 2022
Ind•pendgnt •xamlnerfs report to th• Tru¥tws of Norwlch Puppet Theatre Trust Llmlt•d
I report lo charity tr￿ste8$ on my exwninatN)n of the accounls of Ihe company forlhe year ended 31 March
2022 vthich are sel out on pages 10 10 29.
sponilbllilles and basis of report
As the charity truslees of the company land also ils dirgclors for the purposes ol company lawl you afe
responsible forthe prepardtion of the accounts in accordance wth the requiremenis ol the Q)mpanies Act 20C6
I'lho 2C￿ Acl'}.
Having Satisfied myself that the accounts of the eompany arn ml wuir*J lo be aL#liled under Part 16 of the
2006 Act and are eligible for indepeThJenl examination. I report in respect of my examination of your company.
accounls as carried oul Under seclion 145 of the Charities A¢1 2011 ('Ihe 2011 Acl,). kn carryir4J oul my
examination I have followed the Directions given by the Charily Commission ￿der $￿tion 145(5Xb) of thè
2011 Act.
Ind•p•ndent examln•Vs statem•nt
Since Company's gross I￿rne oxcogded £250,(W yow examiner m￿1 be a membgr of a bod y listed in
section 145 of the 2011 Act. I confirrn Ihal l am qualified to urbjertake the èxamination because l am a member
of knstilute of Chartered Accounts￿1$ Erwjla￿l aThJ W*. *hich is of Ihe listwJ bodies.
I confim that no mall8rs have come lo my attent￿n in corwtion wilh eX￿inatiOn giving me cause lo
believe that in any material ￿pect..
accounting rècords were not kept in respect of the compary ag by sacl￿n 386 of th8 2[￿ Acl.. or
the accounts do not accord with those words,. or
the accounts do not comply wilh Ihe accounling requiremen1$ of Sect￿n 396 of the 2￿6 Act other than any
requirement that the accounts give a 'ln* and fair view vh*ch is not a matter considered as part of an
independent examinalion: or
the accounts have not been prepared in accordance wlh Ihe melhods and principles of the Statement of
Recommended P￿tIce for accounting and reporting by charllies applicable lo charities preparing their
accounls in accordar￿? ￿1h the Financial Reportin9 Standard opplicablg in Ihg UK and Republic of kelar
{FRS 102).
I have identified one maller in COnr￿lI0n wth my examination lo ￿1¢h attention is dravm in order lo enable a
proper understandir@ ol Its accounts. As describ￿ in note 1.4, there is material uncertainty over the lulure
income ol the charity as a rnsuli of continuing uncertainty on arts seclor lundings together wth significant
pressure from future cost ir￿￿eaSe5 a5 a result of cwrent wWi￿￿nenl.
The charity tnjslees have consider&J the goirNJ COr￿ern slalus ol the charity. measLwes taken lo slabilise the
position and the cash resources available and committed at dale ol approval of Ihe financial slalements aThJ
have concluded that Ihese should be piepared on a going concem basis. The f i￿a￿la1 slalements do not
include any of the adjuslmenls that V+DuhJ result tl the company w#s wble lo continue a¥ a goirs concem.
There are no other mallers in conneclion wlh the examinalion lo wthich allenlion should be drnwn in Ihis repofl
in order to enable a PTopeT understandiThJ lo be reached.
Signed:
Daled: 31 October 2022
J Grlmrn•r FCA DChA
Larking Gow•n LLP
Chartered Accounlanls
King Slreel House, 15 Upper King Street. M)Th￿l¢h. NR3 IRB
Page 113

NORWICH PUPPET THEATRE TRUST LIMITED
(A company Ilmlted by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2022
Restrlcted Unreslrl¢ted
fvnds
funds
2022
2022
Totsl
funds
2022
Total
funds
2021
Not•
Income from:
Granls and donations
Charitable activities
Total income
123.306
69,007
192.313
183.994
69.007
253.001
215,352
244 480
Expendlture on:
Charitable activities
96.621
208.701
305,322
Total expendlture
96,621
208,701
305.322
Net In¢om• l (expendlturel before
transfers
{35.933)
{16.3881
152.3211
32.501
Transfers bet￿en Funds
13
Net movgmant In funds
{35.933}
(16.388)
152,231)
32.501
Re¢on¢lllatlon of funds:
Total funds brought forward
Totsl funds carried fonvard
10.391
10.391
62, 712
The notes on pages 16 to 29 form part of these financial slalements.

NORWICH PUPPET THEATRE TRUST LIMITED
(A Company Ilmlted by gu￿￿￿0)
REGISTERED NUMBER: 01243558
BALANCE SHEET
AS AT 31 MARCH 2022
2022
2021
Flxed assets
Tangible assets
Curront assets
Stocks
3,376
2.268
Debtors
10
8.521
2,673
Cash 81 bank and In hand
70,697
75.638
27,719
Credilors: ￿￿Unts falliTrJ dug *itl¥n one
year
11
(17,328)
f12,926)
Net curr￿1 ass•ts
10,391
62, 712
Total assets Igss ¢urrent Il•bllltl•s
10,391
62.712
Credltors: amounts falliryJ due aflw more
than one year
12
N8t ass?ts
Charlty Fund8
Unreslri¢tod funds
Restricted fu￿1$
13
13
10.391
26.778
35.934
Total funds
The Charity's flnarKlal slatemenls have been pwared in accoftl8rt8 Imlh th& provislons applicablelo compan*s
subject to t￿ small COMP￿leS regime.
The TNslees considerthal the Charily is entitl￿ to exemption from the r4uirèment lo have 8n 8udil under th8
provisions of section 477 of Companies Acl fitr* Acl'} members have not required the Charity to
obtsin an audil for the year in queslion in accor(lance with section 476 01 the Acl.
The Tnjstees aCk￿l￿ge Iheir responsibililies forc0Mp￿ry wilhlhe requlrements of Ihe CompanSes Act 2W6
th respect lo accounting records aThJ the preparat￿n of financial slalements.
The financlal statements appioved arnj aulhorised forIss￿ by tha Trustees on 20 110 12 022 and slgn&J
on Iheir behalf, by:
N Hopklns - Tru$ts•, Chair
N Gray - Trus
norary Trgasurw
The Tr)lfrs on P￿eS 16 - 29 lomi part of these financial statement8.

NORWICH PUPPET THEATRE TRUST LIMITED
(A company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Accounting policies
1.1 Ba$1$ of preparallon of finan¢lal Statements
The fina￿131 statements have been prepawe(l in 8ccordan¢e wlh Accounting and Reporting by
Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial ReportiThJ Standard applicable in the UK and Republic of Ireland IFRS
1021 leffeclive 1 January 20191 (Charilies SORP {FRS 10211. Ihe Financial Reporiing Standard
applicable in the UK ar￿ Republic of Ireland {FRS 1021 and the Companies Act 2006.
Norwich Puppet Theatre Trust Limited meets the def inilion of a public benefit enlily Ur￿er FRS 102.
Assets and liabilities are initially recognised at histoiical cost or transaction value unless olhemse
slated in the relevant accounling policy.
1.3 Company status
The Charity is a company limilefl byguar8nlee. The members of thecompanyare Ihe Trustees named
on page 1. In the event of the Charity beirw3 up. Ihe liabil¢ty in respecl ol theguaranlee is limit&1
to £1 per member of the Charity.
1.4 Going concem
The nature of the company's business is such that the Charity relies heavily upon funding from
grants an¢J donations and Ihore can be considerable unpredictable variations in the liming of all cash
flows. Proactive and vigorous fundraisiThJ activity continues to fomi a major aspect of core activities.
The directors have p￿pared detailed f unding plans aThY projected cash flow infom)alion and are
diligently monitoring the situation over the course of the current year by meeting and reporting on a
monthly basis. This robust fonvard bUs1r￿SS and fundraisiThJ plan has already d elivered project
1£75,0001 and cOre1£82.(￿l funding awards in the first and secorwj quarters of the year 2022-23,
such that the Trustees have a continuing and reasonable expectation that the Company continues lo
be able lo meet its liabilities as they fall due for the foreseeable future.
The company had from April 2021 the be￿111 of continued govemmenl linancial support from small
business cultural sector grant. a business rates holiday. Arts Council Cullurdl Recovery Fund Grants
of £79.875 and regular payments tolalling £3.310 {lo end November 20211 under the HMRC Job
Retention Scheme for flexible tspered support for 24 staff. 11 was again ¢Jecided not lo apply for the
Govemment's Loan Scheme.
On the basis of this cash f low information. project and cote grant awards and the actual trading
results in the current year, the directors consider il appropriate lo prepare the financial slalements on
going concem basis. The linancial statements do not include any adjuslmenls that may result from
the directors being unable to Secu￿ adequate core fLmdiNJ for 2022-24 ye8fS.
Further detail over the chaiity's plans are explain￿ in the Truslee5' Report.
1.5 Income
All income 15 recognised once the Charity has entitlement lo the ￿r￿Me. il is probablethat the incom&
wll be received ar￿ the amount of income receivable can be measured reliably.
Donaled services or facilities are recognised ￿en Ihe Charity has control ovgr the item. any
conditions associated with the donated item have been rnel. the receipt of economic benefit from

NORWICH PUPPET THEATRE TRUST LIMITED
(A company Ilmlt•d by gu¥antee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
use of the Charity of the ilem is probable and that economic be￿f 51 can be measured reliably. In
accordance ¥Mth Charities SORP IFRS 1021. general volunteer limo of Ihg Friends is not
recognlsed and ￿ler to t￿ Tntslaes. report for more infomallon 8bout Ihelr conldbullon.
On weipt, donated professional seryices aTrJ don8ld f￿1111￿$ we recognised on the basis of the
value of the giftto Charity *thich is the amount the Charity Mvuld have been wlling lo pay lo obtan
services or facilities of equivalent eC0￿MiC benefit on the opa) market; a coffesporKling amount
Ihen recognised in eXp￿￿j11￿Ie in the pe￿d of ￿1P1.
Income lax recoverable in ielalion lo donations under Grfl Avj or deeds of covenant '
recognised at the lime of the donation.
1.6 Charitable tradlng Incomo
ome from Iwre admi88ion fees, works￿pS and tours is includwj in incomiThJ resources in tho
period in *thich the relevant $￿W takes place.
1.7 Donations and Loc•1 Authorfty grnnts
Donations and Lo￿1 AUt￿rity grants ￿ Tecognised Y￿1h1n statement of financial activitles when
they are recwved. Grnnls ￿t￿ch contribute low*ds sp&if 1¢ expenditu￿ i￿luded within the
reserves of the charity.
1.8 Exp•ndltur•
Expenditure is recognlsed once there is a legal or cortslnKtNe obligation lo lrnnsferKO￿mlC be￿
to a third party, il is probable that a transfer of e¢0￿MiC benefits will be required in setllemenl and
the amount of the obligalion can be measured reliabty- Expendilure is classified by activity- The costs
of each aclivily are made up ol the total of direcl costs and shwed costs, irKluding support c¢)sts
involved in L￿dertakIry aclivily. Direct costs atlribulable lo a siThJle activity are allocated directy
lo that aclivily. Shared costs vthich conlribuie to more Ihan ong activity and support costs vA)ich are
rK>l attrib￿able lo a sIrYd￿ &tivily are apportioned bel*een Ihose activities on a basis consistent wilh
use of resources. Central slaff costs are allocated on the basis of time spent, and depreciation
charges alloealed on the portiorb of Ihe asset's usè.
Charitable ￿tIvItIeS WKI G0vema￿e costs are costs I￿U1r￿1 on C*arity's ed￿atiOnal operaliorB.
including 3UPPQrt ¢o$l$ aTrJ costs rdatir#J to th8 govemarKe ol the Charty apportioned lo charitable
activities.
Grants payable ore charged in the year vknen the ofleris made except in those cases the oll
1$ condilional. suchgranls being recognised a5 expenditure the conditions allaching 8re fulfilbj.
Granls offerèd subjeel lo conditions vthich havè Ml been mel at the year end am noted as a
commllment, bul nol accrL*d as expeNJilure.
1.9 Theatre productlons
1. Th? cost of twre PTodwtion5 is vnilten off as v￿n incurreil.
11. Produ¢lions purchased are ￿itten off over the pav)d of expect&J use for perfomances. Al 31
March 2022 there vras m residue of cost.
Page 117

NORWICH PUPPET THEATRE TRUST LIMITED
(A company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
1.10 Building costs
The theatre operates from a former church. St James, Whitefriars in Norwich which 15 leased f￿M
Norwch Historic Churches Trust Limited. The cosl of relurt)ishmenl. slru¢lural improvemenls and
new buil¢JirwJs. nel of related grants. is Yrrilten off as inC￿ed.
1.11 Irrecoverable VAT
The charity has irrecoverable VAT arising due to partial exemption,￿lch is included within resources
expended.
1.12 Tangible fixed assets and dopreclatlon
Tangible fixed 05sets are carried at cost. net of depreciation and any provision for impairment.
Depreciation is provided at rates calculated to ￿lte ofl the cost of fixed assets, less their eslimal8J
residual value, over Ihwr expeclefl useful lives on the lollowir¥J bases=
Motor vehicles
Theatre equipment
Office equipment
Compuler equipment
25% straighl line basis
20Y& slraighl line basis
20% straight line basis
20% strdNJhl line basis
1.13 Intérest r8¢glvabl•
Interest on f urnjs held on deposit is included vknen rec￿able and the amourbt can be measured
reliably by the Charity,. this is normally upon mlrficalion ol the interest paid or payable by the Bank.
1.14 L•aslng and hiro purchase
Assets obtained under hire purchase contracts and finance leases are capi181ised as tangible f ix
assets. Assets acquired by f inance lease are depreciated overthe shorter of the lease temi and their
useful lives. Assets acquired by hire purchase are dep￿Ciate{l over their useful lives. Finance leases
are those where substantially all ol the benefits and risks of ovmership are assumed by the Charity.
Obligations under such 8greemenls are included in creditors nel of the finance charge allocated to
future periods. The finance elemenl of the rental payment is charged lo the Slalement of financid
activities incorpordtiThJ income and expenditure a¢¢ount so as to produce a constant periodic rale of
charge on the n81 obligation oulstandiThJ in each period.
1.15 Stocks
Stocks are ValL￿d at lovm of cost arvj net realisable value after making due allowance lor
obsolele and slow-moving stocks. Cost includes all direct costs and an appropriate propOrt￿n of
fixed and variable overheals.
1.16 Debtors
Trade and Ot￿r debtors are recognised al the selllemenl amount after any trade discount Offe￿￿.
P￿paYMentS are valued at the amount prepaid net of any trade discounts due.

NORWICH PUPPET THEATRE TRUST LIMITED
(A company Ilmltsd by guarantsfr)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
1.17 Cash al Bank and In hand
Cash at bank w*d In hand includes cash and short lem hl9Ny liquid inv&stmenls wlh a short malurily
of Ihm months or less from tha date of acqlusition or opening ol the d¢posil or similar account.
1.18 Ll•bllltlM and provI￿On$
Liabilities are recognised kn there is an obligation at the Bala￿e sheet dale as a result of a past
evenl, il is prob*Jle Ihal a trar6ferof e¢0￿)Mi¢ benef ilwill be required in settlement, and the amount
of the S￿l￿ment can be estimated rdiably. Liabilities are recognised al the amount that the Charity
anticipates il ￿11 pay lo settle debl orlhe amounl rt has rec8ived as a(IvanceiJ payments for the
goods or service5 il musl provide. Provisions are measured at Ihe best estimate of the amounts
required lo $￿tle oblwalion. Wh*è the effeclof thelime value of mon8y is material, the provisDn
is based on present value of t￿$9 amounts. discounlejj al the pre-tax discount rale that reflects
the risks specific to the liability- ￿ ￿n￿￿11￿j of the discount is recogni$ed wthin interest payab
¥J sirnilw clwges.
1.19 Flnan¢l•l In*lNments
The Chaiity ordy has finar￿181 asse15 and fir￿1￿ h'thilitiès of a kind Ihal qualify as basic financial
instrumenls.
Basic finarKial instruments are inilially r￿Ogr￿s￿l al transaction value and
subsequently measured at th￿r setuemenl value the exception of bank loans thich are
subsequentty measu￿j at amortised cost usiry effective int￿eSt method.
1.20 Fund accounting
Genefal furbjs are unreslricled funds Ythich are avail￿le lor Ltse at Ihe discretion of the Trustees in
furtherdrKe of the general Obl￿tiveS of the Charity aThl which have not been designated for other
purposes.
Restricted fu￿1$ are f￿lS knh are to be used in x¢owdan¢e *ith specifi¢ reslriclions Impos￿1 by
donors or vknich have been raised by the Charity for partic￿￿ PLwposes. The costs of raising and
administering swh f UTKJS are ch￿￿ed against the Sp￿lf ic fuThJ. Ihe aim and use of e&h re$tri¢ted
fund is sel out in the ￿leS to firorKial statemwbts.
1.21 Govemment grants
Govemment grants relatiry to iawible fixed assets arn trealtsj as deferred income and released to
the Sl8temenl of financial &livities over expect￿1 ￿eful li18 ol th8 assets concemed. 011
grants are credited to the Slatwnenl of fIn￿la1 acts'vilies as Ihe related expendituro is irKurred.
Page 119

NORWICH PUPPET THEATRE TRUST LIMITED
(A company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Charltable actlvitlgs
Restrl¢ted Unrèstri￿ed
fund$
funds
2022
2022
Total
funds
2022
Total
funds
2021
Trading income
Theatre Tax Relief
Investment income
69.CX)3
69,003
21,764
7.334
30
Totsl 2022
Total 2021
Grants and donations
R•strictod
funds
2022
Unro$tri¢ted
funds
2022
Total
nds
2022
Total
funds
2021
Anguish's
Arts Council
4.560
4.560
117.264
110, 757
Pinocchio
Covid Response Funding
Ivariousl
37.389
79.875
Norfolk County Council
Covid Response Funding
NO￿l¢h City Council
Covid Response Funding
Kickstarter Funding
Donations
Donated SeNices
Ellerdale Trust
D'oyly Carte
Martin LaiThJ
Norfolk And Norwich Festival
Job Retention Scheme
4. 170
4.170
4.170
3,906
10,000
16,802
10.000
12.578
10.ofK)
12,578
15,429
14.683
15,429
14,683
30,134
2,000
2,000
3,000
5,000
4,500
23,689
3.310
3,310
Total
Total 2021

NORWICH PUPPET THEATRE TRUST LIMITED
(A company Ilmltsd by guarantee)
NOTES TO THE FINANCIAL sTATEME1￿s
FOR THE YEAR ENDED 31 MARCH 2022
Charltsblg adivitios
Trading
expense$
Total
2022
Tolal
2021
Di￿l costs
Eslablishmenl costs
Administration arKJ finar￿ Gosts
prOd￿li0n and cost of sale8
10.178
10,178
38,884
154,047
102.212
6,289
26.266
119,267
60. 158
154.047
102.212
Total 2022
Total 2021
Ilèt Income
Thls Is stated after ehwgirg:
2022
2021
Depr6clallon of tangible fixed assets..
- owned by Ihe charity
kndependenl examlnerfs fee
Durir4J the yoar, no Tw$lees ￿e1Ved any remuneration 12LY21 - £NIL}. OtI￿r than permitted payments for
services dlsclosed In note 16.
Durirwj the year. rK) Trustees receiv￿ any benefits in kind12021- £NILI.
DurirvJ year, ￿ Trustees receiv&J any reimbursement ol expenses1202 1 - £NIL).
Donat•d s•rylc•s
During th8 year Ihe charity erYJ•aed a Nmber of loca v**￿ provided their seryices at
duced rates.
Thesè amounts therefo￿ wresent donated seriicos aThJ *8 ￿09n1$￿ v*itlM'n incoming resources as a
donation and the equr¥alenl charge incI￿led *ithin resources experwjed tolalliNJ £2.1XIO {2021 - £2,cooI.
Page 121

NORWICH PUPPET THEATRE TRUST LIMITED
(A ￿mPaThY Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
staff costs
The average number of persons empknyed by Ihe Charily duritvJ the year was as follows..
2022
2021
Most staff are part4ime. vknich gives an FtE of 5.25.
No employee received remuneration amounlir#J to more than £60.tW in either year.
Staff costs in the year ￿Te as follov+E:
Total
2022
Total
2021
Wages and salaiies
Social security costs
Pension contribulions
129,199
8,720
1,144
91,186
5.660
1,821
Total
139.063
98.667
The key management personnel of the Charity are deemed to belhe Iruslees. As a result, the remuneratio n
to key mana9emenl in the year wa5 £NIL 12021 £N￿l. other than perrnilled paymenls for services as
disclosed in note 16.
Page 122

NORMCH PUPPET THEATRE TRUST LIMITED
(A company Ilmlt•d by gupnntse)
NOTES TO THE FINANCIAL STATEMEpirs
FOR THE YEAR ENOED 31 MARCH 2022
Tanglbl• fixed ass•ts
Motor Flxlur•s and
hl¢les
fittings
Office
•qulpment
Computer
equlpm¢nt
Total
Cost
At 1 April 2021
Additions
Disposals
30.852
53.441
3,678
8,865
96,836
Al 31 March 2022
Depreclatlon
Al 1 April 2021
Charge for tho year
On di$po$•ls
53,441
3,678
8,865
96,836
At 31 Mar¢h 2022
Not book v•lu•
Al 31 March 2022
At 31 M8rch 2021
Thg nel book value of assels held uNler finarKe leases or tire purchase conlracls. incI￿led above, are
a8 follow8..
2022
2021
Stocks
2022
2021
Finisw goods arxl goods for Tesale
Page 123

NORWICH PUPPET THEATRE TRUST LIMITED
IA company Ilmlt•d by guarant•el
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDEO 31 MARCH 2022
10. D•blorn
2022
2021
Trnde debtor¥
Prepayments and accnAI income
8.110
411
1.661
1,012
11. Cr•dltors: Amounts falllng du• wlthln on• y
2022
2021
Trade crnjitors
Othef laxalion and social sec￿lty
Accruals aThJ defe￿￿ irKome
10.029
3,568
3.730
7.938
4, 988
Included wthin acCn￿lS ￿ deferr•J irKome is £0 of def¢￿ed income12021: £0).
12. Credltorn: Amounts falling due after more than one y
2021
Page 124

NORWICH PUPPET THEATRE TRUST LIMITED
(A company Ilmltod by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
13.
Statsm•nt of funds
statement of funds - current year
Balance at
31 March
2022
Balance at
1 Aprll 2021
Transfers
Inlout
In￿m9 Exp•ndlturo
Unrestricted funds
Gener￿ Funds -
192,313
1208,701)
R•strlctsd funds
Anguish's
Arts Council
Kickstarter
Job Retention Scheme
Norfolk and Norwch Festival Bridge
1400
29.034
4.560
37.389
15,429
3.310
16,9601
(66,4231
(15,4291
13,3101
I4.5￿)
Total of f unds

NORWICH PUPPET THEATRE TRUST LIMITED
(A ￿MPaThY 11m1t￿ by 9uarante•}
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Arts Courtil of ErwJlaryl - total £117.264
£20.(W - First part of Pl￿¢¢blO Pmjecl retr￿a￿al aThJ pmduclion period
£16.(YK) - Sècond part of Pinocchio
£42,IXXS in t4￿1 payments - Cullurdl Recovwy 2
£29.4tW - Conlinuily Grant -'CRF3'
£1,389 - Fird 10% of dèlayed Pinocclwo R&D pwiod
£8.475 - Final 10% Cultur81 Recovery FWNJ 1
£4,560 - ANJuish's Pinocc1￿?~ Schtx* off Spectato
£4,170-No
olk
unty
￿￿11 - Core
uTrJiry grant
Norwch City Council - total £21.667
£10,0￿ - annual core lundiThJ grant
£12.578 in foLf Payments - COVID closwe 8ssist8r
Kick5tartor Grants - tolal £15.429
Paid in montNy amounls via Famham MalliNJs to assist in salary for lemporwy stsff members
Statement ol funds - prlor year
B8lanc& al
31 Ma￿h
2021
Bala￿e at I
2020
Trnnsfe
i￿out
IrK(yne ExwA*ture
Vnr•strl¢t•d funds
General funds
2.717
129.830
(105, 769)
26. 778
Restrlcted funds
Anguish's
Arts CourKil
Other grants
Foyle Foundation
Freemans.
Paul Bassham
Norfolk and Norwich
Festival Bridge
2,400
29,034
13,320
110. 151
(94.438)
(1, 299)
(4, 139)
(5.334)
4.139
&334
21
Total of f unds
Page 126

NORWICH PUPPET THEATRE TRUST LIMITED
IA company Ilmlted by guar•n¢•o1
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Summ•ry of fund• - currnnt year
Balance al
31 March
2022
Balance at
1 Apiil 2021
Transf•r$
Inlout
Incom• Expndlturo
General f ur•Js
Reslricled funds
26,778
3S.934
192,313
1208.7011
{96,6211
10.391
Summ•ry of funds - prlor year
Balance al
31 M8rch
2021
B818rte at I
Awl 2020
Transfe
i￿0￿1
General fund¥
Reslncled funds
2.71T
27.494
129.830
114.651
(105. 769)
(106.211)
26. 778
11
14. Analysis of net assets between funds
Analysls of net assets bet**n funds - ¢urrent year
Total
funds
2022
fvnd$
2022
fvnds
2022
Tangible f ixed assels
Current assets
Creditors due y￿thin one year
Creditors due in more Ihan one year
27.719
117.328)
27,719
117.328)
Page 127

NORWICH PUPPET THEATRE TRUST LIMITED
{A ¢omp•ny Ilmlt•d by gulrnntsél
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Analysls of n•t •¥¥•ts I￿n funds . prfor y•ar
Rgslrictgd Unresliycted
funds
funds
2021
2021
Total
funds
2021
T8r4Jiblg lixwj assels
cul￿nI assets
Creditors due V•ilhin one year
Crefjitors due in more than ort y
35,933
39, 704
(12.926)
75,638
(12. 926)
15. Op•fallng le•w ¢ommllm¢nts
Al 31 March 2022 11* lotal of the Charity's lulurn mininwm lease payments under nonwcancellable
operating leases wa5:
2022
2021
Amounts payable:
Within 1 year
Belween 1 and 5 years
After more Ihan 5 years
71,250
9.000
Total
20.250
16. R￿ated party transa¢llon$
A number of truslees have been eTrJagwl to perform $h)ws arbj ¥KJrkshops. Thè provision of the88
services are permitted within the MemoraThJum atml Articles ol Association. subjecl lo Ihe conditions sgt
out in the Charities Act 2011. Duru￿ the year. thern paym￿1$ lotalliThJ £1.895 made lo 2 Iwstges lor
their artistic services.
P8ge 128

NORWICH PUPPET THEATRE TRUST LIMITED
IA company Ilmll•d by gu4rants•)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
17. Thth*tr• Pr¢>ducdon#
The valuo of the IhoatTe'S p￿dUC110ns we rK)t incIL￿ed as assets of Ihe company. It is considered tha
if puppets for the prod￿l￿nS *•re sold on the open mwkel tlw Y￿Uld realise amounts In the region
of..
2022
2021
Just So
Paper figer
Tlnderbox
Dragons Head
Pied Pipef lupdaled 2012)
Puppet Parade
Ricky wth the Tull
Travelling Storyteller
Sleepir¥J Beauty
Sr￿W (knen 11987 pmduclion)
The Bet
George's Mar¥elknus Medicine
Hansel & Grgtel (1991 production)
Thumbelina
James & the GI￿t P￿h
Hansel and G￿tel 121J02 production)
Selfish Giant
Red Riding Fknod {2011 pmduction)
The T1￿￿erboX (20121
Three Colours
Beauty arnj the Beast
50
50
100
400
100
400
100
25
25
150
250
500
150
150
100
25
25
150
250
150
150
1CM)
350
150
qoo
350
150
5.OCLI
A valuation of theatre prodLKtions vrds wKlertaken at 31 M￿h 2022 by the Theatre Director. As a result
the directors believe that the amounts above represent a ￿￿1St￿ value of Ihe puppets themselves, if they
were lo be sold wilhoul any direction or Tehearsd wilh purchaser.
Page 129

NORWICH PUPPET THEATRE TRUST LIMITED
(A company Ilml¢ed by guarantee)
DETAILED INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2022
2022
2021
TRADING INCOME
School and theatre tours
Master Classes
Workshops
Own productions
Visiting companies
Contracl SeNices
Miscellaneous income
17.675
1,319
6.1)05
15.279
5,824
1.535
524
6,447
46.318
13,290
Front of house sales
Cost of front of house sales
6,529
14,6781
560
(1,231)
GROSS TRADING PROFIT
48.169
12,619
OTHER TRADING INCOME
Hire of Th8atre
16,155
7.914
NET PROFIT FROM TRADING ACTIVITIES
CHARITY INCOME
Grants
Norfolk County Council
Notwch City Council
4.170
22.578
8.076
26,802
Job Relenlion Scheme
Arts Council
D'oyly Carte
Ellerdd8 Trusl
Anguish's
Kickstarter Scheme
Martin Laing
Norfolk and Normch Festival Bridge
3.310
117.264
23, 689
110. 151
2.000
15.429
4,500
167311
Pa9e 130

NORWICH PUPPET THEATRE TRUST LIMITED
(A company Ilmltèd by guarantee)
Other Income
Donations
12.525
30. 134
Donated seNlces
Theatre Tax Relief
Bishop's Garden
Bank deposit interost
7.334
2.157
30
39,498
16,687
TOTAL INCOME FROM CHARITABLE
SOURCES
183.998
222.717
OTHER EXPENDITURE
Olr•¢t costs
Fees
Visitlng companles fees
Production costs
W0￿9￿)P malwials
Producllon roy811ies
Motor travel
Advertising aThJ marketing
Repalrs to equipment
Depreclatlon - theatre equipment
69.791
2.662
18,639
299
44,391
6,525
1, 671
4.(X)7
6.172
6.144
2.939
3.350
Q339
E8t4bllshm¢nt
Renl
11.?
10.083
Rates
376
Insurance
Light and heat
Cleanlng
Repairs lo premises
Depreciation - office
Depreciation - compLrter
Oepreciation - motor vehicle
4.S25
4.392
2.828
15,514
3,682
3,924
3,9)1
4,6T6
38.884
26,266

NOR￿cH PUPPET THEATRE TRUST LIMITED
{A company Ilmlt•d by guaranlg01
Admlnlstratlon
Admin salaries and fees
Telephone and inlemet
Postage, printing and slalionery
Legal. accountsncy and professional fees
Subscriptions
General
Travel and Subsistence
Slalf Training and recruitment
Donated Service Chafge
Irwoverable VAT
132.738
2,056
592
6.893
103,316
2. 136
506
4,210
1.887
1.342
363
2.156
JJ
1.492
2T8
2.000
153.457
118. T71
Flnance
Bank charges and interest
Hire purchase interest
590
496
590
496
TOTAL CHARITY EXPENDITURE
31JO.644
210.749
NET INCOMEI{EXPENDITURE) FOR THE
YEAR
{52.321)
32.501
Page 132