REGISTERED COMPANY NUMBER: 02163378 (England and Wales) REGISTERED CHARITY NUMBER: 298436
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2021
for Prime Theatre
MHA Monahans Chartered Accountants 38-42 Newport Street Swindon Wiltshire SN1 3DR
Prime Theatre
Contents of the Financial Statements for the Year Ended 31 March 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | ||
| Notes to the Financial Statements | 8 | to | 16 |
Prime Theatre (Registered number: 02163378)
Report of the Trustees for the Year Ended 31 March 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
As set out in the charity's governing document the charity's objectives are:
To promote, maintain, improve, and advance public education, appreciation and understanding of the arts, particularly by the formulation, preparation, establishment and production of educational plays, festivals and production.
The principal activity of the charity is a theatre company. The charity uses the medium of drama to educate young people about social issues which directly affect their lives.
Public benefit
The trustees have paid due regard to the Charity Commission's guidance on public benefit in deciding what activities the charity should undertake. The trustees consider that they have acted in the public benefit.
Prime Theatre advances education, understanding, inclusion and artistic skills development though the making of theatre. By specialising in theatre and theatre-making projects for children and young adults, Prime Theatre celebrates, inspires and challenges young people to secure the best possible future for us all. We give voice to a major and often-unheard section of our society and work to promote their health and happiness.
Page 1
Prime Theatre (Registered number: 02163378)
Report of the Trustees for the Year Ended 31 March 2021
ACHIEVEMENT AND PERFORMANCE
In this year Prime met the global crisis faced by all. From a moment of extreme challenge, we were able to react with speed and innovation. We shifted most activity online and, as a result, engaged far more young people of a greater diversity than ever before. We met our charitable aims and objectives with increased relish and relevance, offering a wider range of creative arts alongside our core theatre offer. We secured over £50k of Restricted Funds to deliver arts and education projects, the majority accredited by Arts Award, a national qualification. We delivered over 3,000 of these awards to young people aged 5-25 years and were recognised for this work as a UK Champion Centre. This helped build a new partnership with Swindon Borough Council, who after cancelling all arts grants for 20-21, were persuaded by our work to move to a commissioning model from Children's Services for 21-22. We are pleased this means Prime is developing strategically as a flexible youth arts agency, with direct referrals to young people previously disengaged from a traditional theatre company model.
Professional productions:
- Penguins : When Covid-19 hit our debut international tour came back from the US a month earlier than planned. Though this meant a £4k decrease in ticket income, we honoured contracts and paid our creatives in full.
- 10 Tiny Plays About Wiltshire : A community project with BBC Radio Wiltshire completed its development stage with writers from the community, but recording and transmission (planned for the May 2020 Swindon Arts Festival) was postponed to 2022
- Windrush : The proposed tour based on the experiences of a young girl arriving in England was replaced by educational activity within the community and online, including the broadcast of poems by young people on BBC Radio Wiltshire. Further professional script development was paused until late 2021
- Signal Fires : Prime partnered Out of Joint Theatre company on a digital response as part of UK theatre's response to darkness in our sector. Young people created the script, a manifesto for hope, performed online by a professional actor - Mine Own True Self : Our planned actor in role events with STEAM: The Museum of Railway Life, part of our all-female Women Engineers project, become a film project to be completed in late 2021
Youth productions and theatre training:
-
Youth theatre workshops for actors and writers ran online for most of the year. When possible, we delivered in person from a temporary base. Numbers and the mixing of age groups were dramatically affected by social distancing measures and new regulations preventing under 16s from mixing with those over this age.
-
The physical rehearsals of two youth theatre productions were paused and restarted when possible. For By With became a much smaller digital contribution to the 2021 European Festival of Youth Theatre. Look Up, part of the National Theatre Connections programme was cancelled along with most of this project.
-
Lockdown Street: an audio play written by young writers in England and Scotland, was recorded by professional actors and members of Prime Youth Theatre. It was shared online by co-producers Pitlochry Festival Theatre.
Education and Community Programme:
-
Paul Hamlyn Teacher Development Project: This two- year project continued online and in person where possible. The Paul Hamlyn Foundation were generous in extending timeframes and made a further grant to Prime of £20k for lost income due to Covid-19.
-
Special Education Needs Youth Theatre Workshops ran online and in person where possible. A summer school was created as additional activity. Children In Need awarded a Booster grant to deliver additional Arts Awards to this group. - We delivered arts education to the children of Key Workers in lockdowns.
Access for All
-We hosted a Creative Access Trainee from the Global Majority thanks to additional funding from the Mo Siewcharran Fund.
-Additional restricted funds were received to support vulnerable children, raise mental health, and close the education gap which meant we increased delivery to children in low-income families.
-We continued to support D/deaf children throughout our programmes.
-We welcomed an increased number of Looked After Children and Care Leavers to our activity.
FINANCIAL REVIEW
Financial position
At 31 March 2021, total funds were £216,322.
Prime ended the financial year 2020-21 with a large amount of Restricted Funds of £81,983 that were secured to deliver key projects. These funds will be spent as planned and in accordance with funding agreements.
-
Unrestricted Funds were utilised by trustees to continue a Strategic Review, develop emerging Artists of Colour with Tangle African Caribbean Theatre and to further develop the international touring of Penguins.
-
Designated Funds remain held at agreed levels to meet any appropriate redundancy costs and fees related to any business closure.
Page 2
Prime Theatre (Registered number: 02163378)
Report of the Trustees for the Year Ended 31 March 2021
FINANCIAL REVIEW
Reserves policy
The trustees are committed to building reserves that would enable the charity to fulfil its obligations, statutory and otherwise, in the event of a cessation of operations. At 31 March 2021 the trustees had designated funds of £34,064 to meet this objective. Total unrestricted funds were £100,275 which includes £6,785 of tangible fixed assets. The amount of reserves held (excluding restricted funds, designated funds and tangible fixed assets) are £93,490.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Organisational structure
Day to day management of the charity's affairs is delegate to the Management Team, comprising professional advisors and administrators.
Induction and training of new trustees
The charity provides an induction pack and appropriate training for new trustees.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
In satisfaction of this responsibility, the charity has prepared a Three Year Plan that identifies issues, many of them financial, which might impair the fulfilment of the charity's objectives, unless countered successfully. The Three Year Plan is reviewed annually.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
02163378 (England and Wales)
Registered Charity number
298436
Registered office
The Wyvern Theatre Theatre Square Swindon SN1 1QN
Trustees
E Carter J E Gavin S Hodge P Horwat S M Welsh P Scott-Garrett J Tyrrell B D Newbury E M P Fletcher Rowbotham N R Capstick (appointed 6.7.20) L K Goulden (appointed 6.7.20) J L Pfumojena (appointed 6.7.20) Miss A L Batty (appointed 4.2.21) Miss J Bennett (appointed 4.2.21)
Company Secretary
S C M Wrixon
Page 3
Prime Theatre (Registered number: 02163378)
Report of the Trustees for the Year Ended 31 March 2021
REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
S G Fraser FCA MHA Monahans Chartered Accountants 38-42 Newport Street Swindon Wiltshire SN1 3DR
Approved by order of the board of trustees on 16 November 2021 and signed on its behalf by:
P Horwat - Trustee
Page 4
Independent Examiner's Report to the Trustees of Prime Theatre
Independent examiner's report to the trustees of Prime Theatre ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of FCA which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
S G Fraser FCA MHA Monahans Chartered Accountants 38-42 Newport Street Swindon Wiltshire SN1 3DR
16 November 2021
Page 5
Prime Theatre
Statement of Financial Activities for the Year Ended 31 March 2021
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 3 110,389 Charitable activities 6 Professional performances 10,298 Youth Theatre 6,754 Outreach & education 4,810 Other trading activities 4 500 Investment income 5 259 Total 133,010 EXPENDITURE ON Charitable activities 7 Professional performances 18,068 Youth Theatre 9,910 Outreach & education 49,324 Total 77,302 NET INCOME 55,708 RECONCILIATION OF FUNDS Total funds brought forward 78,631 TOTAL FUNDS CARRIED FORWARD 134,339 |
Restricted funds £ 146,068 - - - - - 146,068 2,000 10,049 131,619 143,668 2,400 79,583 81,983 |
2021 Total funds £ 256,457 10,298 6,754 4,810 500 259 279,078 20,068 19,959 180,943 220,970 58,108 158,214 216,322 |
2020 Total funds £ 287,555 11,760 11,610 21,653 - 194 |
|---|---|---|---|
| 332,772 176,858 23,118 58,997 |
|||
| 258,973 | |||
| 73,799 84,415 |
|||
| 158,214 |
The notes form part of these financial statements
Page 6
Prime Theatre (Registered number: 02163378)
| Balance Sheet 31 March 2021 Notes FIXED ASSETS Tangible assets 13 CURRENT ASSETS Debtors 14 Cash at bank and in hand CREDITORS Amounts falling due within one year 15 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 17 Unrestricted funds Restricted funds TOTAL FUNDS |
2021 £ 6,785 9,773 213,804 223,577 (14,040) 209,537 216,322 216,322 134,339 81,983 216,322 |
2020 £ 9,788 6,587 149,299 155,886 (7,460) 148,426 158,214 158,214 78,631 79,583 158,214 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 16 November 2021 and were signed on its behalf by:
P Horwat - Trustee
The notes form part of these financial statements
Page 7
Prime Theatre
Notes to the Financial Statements for the Year Ended 31 March 2021
1. STATUTORY INFORMATION
Prime Theatre is a charitable company limited by guarantee, without share capital, incorporated in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The registered office address can be found in the Trustees' Report.
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest pound.
There are no significant areas of judgements or key sources of estimation uncertainty.
Going Concern
The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.
Financial reporting standard 102 - reduced disclosure exemptions
The charity has taken exemption from preparing a cash flow statement under the charities SORP (FRS 102) as the charity constitutes a small charity.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Stage and office equipment - 20% on straight line basis Motor vehicles - 20% on straight line basis
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Page 8
continued...
Prime Theatre
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
2. ACCOUNTING POLICIES - continued
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Financial risk management
The charity has minimal exposure to customer credit risk, liquidity risk and market risk. Please refer to the risk section of the trustees annual report for information on how risks are managed. The charity does not have any non basic financial instruments.
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
3.
DONATIONS AND LEGACIES
| DONATIONS AND LEGACIES | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Donations | 1,483 | 2,626 |
| Gift aid | 351 | - |
| Grants | 254,623 | 284,929 |
| 256,457 | 287,555 |
Grants received, included in the above, are as follows:
| Arts Council Other grants Swindon Borough Council Wiltshire Community Foundation Heritage Lottery Fund Children in Need Paul Hamlyn Foundation Arts Award Church Urban Fund People's Postcode Lottery Community Lottery Creative Access Government Grant Income: |
2021 £ 89,555 - - 16,758 - 2,925 90,000 385 9,000 11,000 30,000 5,000 254,623 |
2020 £ 87,937 54,043 33,600 6,195 10,000 8,154 75,000 10,000 - - - - 284,929 |
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Arts Council England 89,555 |
87,937 | |
| Swindon Borough council - |
34,600 |
Page 9
continued...
Prime Theatre
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
3. DONATIONS AND LEGACIES - continued
| Heritage Lottery Fund | - | 10,000 |
|---|---|---|
| National Lottery | 30,000 | - |
There were no unfulfilled conditions or other contingencies attached to these grants. The charity has not directly benefited from any other forms of government assistance.
| 4. OTHER TRADING ACTIVITIES Shop income 5. INVESTMENT INCOME Deposit account interest 6. INCOME FROM CHARITABLE ACTIVITIES Activity Professional productions - ticket sales and other income Professional performances Grants Professional performances Youth Theatre activities - workshop and other income Youth Theatre Outreach & education activity - workshops and other income Outreach & education Grants received, included in the above, are as follows: Coronavirus Job Retention Scheme 7. CHARITABLE ACTIVITIES COSTS Professional performances Youth Theatre Outreach & education |
Direct Costs £ 9,978 6,456 48,955 65,389 |
2021 £ 500 2021 £ 259 2021 £ 5,547 4,751 6,754 4,810 21,862 2021 £ 4,751 Support costs (see note 8) £ 10,090 13,503 131,988 155,581 |
2020 £ - 2020 £ 194 2020 £ 11,760 - 11,610 21,653 45,023 2020 £ - Totals £ 20,068 19,959 180,943 |
2020 £ - 2020 £ 194 2020 £ 11,760 - 11,610 21,653 |
|---|---|---|---|---|
| 45,023 | ||||
| 220,970 |
Page 10
continued...
Prime Theatre
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
8. SUPPORT COSTS
| SUPPORT COSTS | |
|---|---|
| Governance Management costs £ £ Professional performances 9,888 202 Youth Theatre 13,373 130 Outreach & education 130,999 989 154,260 1,321 |
Totals £ 10,090 13,503 131,988 |
| 155,581 |
9. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 3,003 | 3,149 |
| Accountancy and Independent Examination | 1,321 | 1,405 |
10. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
Trustees' expenses
During the year ended 31 March 2021 expenses totalling £Nil (2020 - £238).
11. STAFF COSTS
| Wages and salaries Social security costs Other pension costs |
2021 £ 111,206 7,146 2,567 120,919 |
2020 £ 122,340 7,277 2,946 |
|---|---|---|
| 132,563 |
Key management personnel for the charity comprises the Chief Executive and the trustees. The total employee benefits for key management personnel of the charity were £51,266 (2020 - £51,281).
The average monthly number of employees during the year was as follows:
| Management team Artists Administration |
2021 2 2 - 4 |
2020 2 2 1 |
|---|---|---|
| 5 |
No employees received emoluments in excess of £60,000.
Page 11
continued...
Prime Theatre
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
| 12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 124,164 Charitable activities Professional performances 11,760 Youth Theatre 11,610 Outreach & education 21,653 Investment income 194 Total 169,381 EXPENDITURE ON Charitable activities Professional performances 118,692 Youth Theatre 5,398 Outreach & education 38,643 Total 162,733 NET INCOME 6,648 RECONCILIATION OF FUNDS Total funds brought forward 71,983 TOTAL FUNDS CARRIED FORWARD 78,631 13. TANGIBLE FIXED ASSETS Stage and office equipment £ COST At 1 April 2020 and 31 March 2021 44,541 DEPRECIATION At 1 April 2020 35,753 Charge for year 3,003 At 31 March 2021 38,756 NET BOOK VALUE At 31 March 2021 5,785 At 31 March 2020 8,788 |
Restricted funds £ 163,391 - - - - 163,391 58,166 17,720 20,354 96,240 67,151 12,432 79,583 Motor vehicles £ 8,258 7,258 - 7,258 1,000 1,000 |
Total funds £ 287,555 11,760 11,610 21,653 194 |
|---|---|---|
| 332,772 176,858 23,118 58,997 |
||
| 258,973 | ||
| 73,799 84,415 |
||
| 158,214 | ||
| Totals £ 52,799 43,011 3,003 46,014 6,785 9,788 |
Page 12
continued...
Prime Theatre
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade debtors Other debtors Prepayments and accrued income 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Social security and other taxes VAT Deferred income Accrued expenses 16. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted funds £ Fixed assets 6,785 Current assets 141,594 Current liabilities (14,040) 134,339 17. MOVEMENT IN FUNDS Unrestricted funds General fund Designated fund - core costs and redundancy costs Restricted funds Youth Theatre Science Project Teacher Development Deaf Project Looked After Save a Friend - County Lines Project Windrush Social Action TOTAL FUNDS |
Restricted funds £ - 81,983 - 81,983 At 1.4.20 £ 44,567 34,064 78,631 15,366 - 59,022 3,195 - 2,000 - - 79,583 158,214 |
2021 £ 7,914 - 1,859 9,773 2021 £ 2,721 1,092 6,720 3,507 14,040 2021 Total funds £ 6,785 223,577 (14,040) 216,322 Net movement in funds £ 55,708 - 55,708 (5,974) 5,340 (6,982) 6,100 385 (2,000) 3,000 2,531 2,400 58,108 |
2020 £ 180 4,550 1,857 6,587 2020 £ 2,607 1,768 - 3,085 7,460 2020 Total funds £ 9,788 155,886 (7,460) 158,214 At 31.3.21 £ 100,275 34,064 134,339 9,392 5,340 52,040 9,295 385 - 3,000 2,531 81,983 216,322 |
|---|---|---|---|
Page 13
continued...
Prime Theatre
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
17. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Youth Theatre Science Project Teacher Development Deaf Project Looked After Save a Friend - County Lines Project Community Lottery Children In Need Creative Access Windrush Social Action TOTAL FUNDS |
Incoming resources £ 133,010 - 8,786 70,000 15,195 385 - 30,000 2,925 5,000 9,000 4,777 146,068 279,078 |
Resources Movement expended in funds £ £ (77,302) 55,708 (5,974) (5,974) (3,446) 5,340 (76,982) (6,982) (9,095) 6,100 - 385 (2,000) (2,000) (30,000) - (2,925) - (5,000) - (6,000) 3,000 (2,246) 2,531 (143,668) 2,400 (220,970) 58,108 |
Resources Movement expended in funds £ £ (77,302) 55,708 (5,974) (5,974) (3,446) 5,340 (76,982) (6,982) (9,095) 6,100 - 385 (2,000) (2,000) (30,000) - (2,925) - (5,000) - (6,000) 3,000 (2,246) 2,531 (143,668) 2,400 (220,970) 58,108 |
|---|---|---|---|
| 2,400 | |||
| 58,108 |
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.4.19 | in funds | 31.3.20 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 37,919 | 6,648 | 44,567 |
| Designated fund - core costs and | |||
| redundancy costs | 34,064 | - | 34,064 |
| 71,983 | 6,648 | 78,631 | |
| Restricted funds | |||
| Youth Theatre | 7,212 | 8,154 | 15,366 |
| CEP | 2,500 | (2,500) | - |
| This is Our Town | 2,720 | (2,720) | - |
| Teacher Development | - | 59,022 | 59,022 |
| Deaf Project | - | 3,195 | 3,195 |
| Save a Friend - County Lines Project | - | 2,000 | 2,000 |
| 12,432 | 67,151 | 79,583 | |
| TOTAL FUNDS | 84,415 | 73,799 | 158,214 |
Page 14
continued...
Prime Theatre
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
17. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Youth Theatre CEP This is Our Town Custody project Peace day riots Teacher Development Deaf Project Looked After LitWorks Community Inclusion Save a Friend - County Lines Project TOTAL FUNDS |
Incoming resources £ 169,381 13,154 - - 45,666 10,000 75,000 14,433 250 500 388 4,000 163,391 332,772 |
Resources Movement expended in funds £ £ (162,733) 6,648 (5,000) 8,154 (2,500) (2,500) (2,720) (2,720) (45,666) - (10,000) - (15,978) 59,022 (11,238) 3,195 (250) - (500) - (388) - (2,000) 2,000 (96,240) 67,151 (258,973) 73,799 |
|---|---|---|
Designated funds:
Core costs and redundancy costs - a fund has been set up to designate 3 months of core costs plus redundancy costs.
Restricted funds:
Youth theatre - various donations received to help young people take part in youth theatre.
Science project - a Wiltshire Community Foundation grant to fund the animation of Science & Engineering in Swindon schools
This is Our Town - funding from the Heritage Lottery Fund towards young people exploring Swindon's heritage from 1901 to 1913.
CEP - Funding from Wiltshire & Swindon Cultural Education Partnership for the Deaf Project
Deaf project - funding received from WCF, Persimmons homes, Postcode Lottery and the Mericos Foundation for activities and access for Dead children and young people
Save a Friend - County Lines Project - funding from WCF and Wiltshire Police & Crime Commissioner
Community inclusion - funding for Stephen Lawrence Day event
Teacher development - funding from Paul Hamlyn Foundation
Litworks - funding for Arts Award
Looked after - funding for looked after children to complete Arts Awards
Peace day riots - Heritage Lottery funding to provide a day of activities to commemorate Swindon's 1919 Peace Riots through archive tours, exhibitions, dance, drama and musical performances.
Community Lottery - Funding for Arts Awards projects for vulnerable young people
Children in Need - Funding for Inclusive Youth Theatre
Creative access - Funding for Creative Participation Producer (to support talent from under represented groups to work in the Arts)
Page 15
continued...
Prime Theatre
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
17. MOVEMENT IN FUNDS - continued
Windrush - Funding for Windrush day events
iwill - Funding to create young arts leaders within the community
18. EMPLOYEE BENEFIT OBLIGATIONS
The charity operates a defined benefit pension scheme. The costs for the period was £2,567 (2020: £2,946). at 31 March 2021, there were no outstanding or prepaid contributions.
19. RELATED PARTY DISCLOSURES
The Trustee, L Goulden, was paid £3,460 during the year for freelance work. This payment does not relate to services as a trustee.
There were no other related party transactions during the year.
Page 16