**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 2023**
**for Prime Theatre**
Monahans Chartered Accountants Hermes House Fire Fly Avenue Swindon Wiltshire SN2 2GA
**Prime Theatre**
## **Contents of the Financial Statements for the Year Ended 31 March 2023**
|||**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|17|
**Prime Theatre (Registered number: 02163378)**
## **Report of the Trustees for the Year Ended 31 March 2023**
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 2023. 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 2023**
## **ACHIEVEMENT AND PERFORMANCE**
Prime continued to rebuild after Covid-19 with a varied and vibrant mix of theatre for/with/by children and young people. In our 4th year as a National Good Practice Centre for Arts Award qualifications, we widened our strand of combined arts activity with other organisations and artists.
We were grateful to a wide range of supporters, especially Arts Council England who remained our largest funder as part of its 2022-23 National Portfolio.
2022-23 secured more funds from Swindon Borough Council's Childrens Services to train, educate and mentor priority groups: Care Leavers, Looked After Children, Youth Justice groups, Disabled Young People and those Not in Education, Employment or Training (NEET). 1000+ young people enjoyed a series of developmental projects, 1-2-1 mentoring and Arts Award qualifications at all levels - introductory to university entry point. We're pleased to be in strategic partnership with the local authority when many other councils are withdrawing income for creative and cultural activities. Our work together makes a huge difference to the younger generations of our town, present and future.
## **Professional productions:**
- 10 Tiny Plays About Wiltshire: Annual community project with BBC Radio Wiltshire, broadcasting as part of its main schedule and the Sounds App - Windrush Girl: A schools tour of this world premiere by the award-winning writer, Paula B Stanic and a third year of education activity online
- Whispering Willows: A production by Wassail Theatre placed in Swindon schools, exploring rural arts - RATLab: We hosted the Swindon residency of this high-tech production by Green Ginger and the University of Bath Spa examining bones, science and imagination - This Is When: 3 professional films and an online training resource for schools, youth workers and other groups. Commissioned by Swindon Borough Council and part of the Government's Safer Streets campaign preventing violence against girls
## **Youth productions and theatre training:**
- Youth theatre workshops returned to a full physical presence in our theatre base
- We joined a national youth theatre programme for young creatives, staging our first large-scale production written by a single member of youth theatre: When This Is Over played at Swindon Arts Centre with a multi-age cast
- Youth Theatre members benefited for a second year of LAMDA's Pathways Programme encouraging young creatives
- into formal training. They experienced free workshops alongside two sixth form colleges we support
- We completed our international programme for young LGBTQ+ creatives; 4 Nations (in partnership with youth organisations in Scotland, France, Germany and Canada) with the online audio production, Queer, There and Everywhere
- With national partners JAM and Stockroom, we ran a series of 5 free creative writing workshops online for emerging
- UK artists from traditionally under supported demographic groups
## **Education and Community Programme:**
- We completed our Paul Hamlyn Teacher Development Project: teachers across 8 primaries reported an increase in creativity across the curriculum and a positive impact on the engagement of pupils within the programme - Lifting Limits: We partnered this national charity for gender equality in primaries with a series of creative activities and teach training events - We worked with South Swindon Parish Council to offer two weeks of free food and accredited mixed arts activities in Swindon's historic Town Bowl. - SAPAC partnered us for a second year of inclusive, creative workshops promoting Swindon's South Asian community and culture
- We worked with Swindon's National Literacy Hub to offer creative writing activities for primary pupils - We programmed a wide range of STEM to STEAM (Science, Technology, Engineering, Arts and Maths) events with the Swindon Science Festival and our regular heritage partner, STEAM: The Museum of Railway Life
## **Access for All:**
- Special Education Needs workshops ran weekly thanks to Children In Need
-We continued to provide free and discounted access to our programmes thanks to a multiplicity of trusts and foundations
-Wiltshire Community Fund continued to support our Young Arts Leaders building leadership skills and youth voice - We used our Levelling Up grant purchases to deliver free activities with our new Arts Award van and creative/technical resources
- We hosted a 12-month traineeship with Regional Theatre Young Directors Scheme for a young person to develop their skills in a paid role
- We supported a wider range of young people and emerging artists in making their own successful applications to funders, increasing resource and aspiration for our town
Page 2
**Prime Theatre (Registered number: 02163378)**
## **Report of the Trustees for the Year Ended 31 March 2023**
In November of 2022 year we were reappointed to the National Portfolio for 2023-26, with a remarkable 135% uplift in funds. This was a testament to the programmes we offer and the strategic plans we offered in our application. Prime staff and trustees remain committed to the development and diversity of Swindon's children. We know that with care, creativity & confidence our young people can overcome our town's many economic and cultural challenges. It's a pleasure to serve them.
## **FINANCIAL REVIEW**
## **Financial position**
At 31 March 2023, total funds were £418,063.
Prime ended the financial year 2022-23 with a large amount of Restricted Funds of £86,492 that were secured to deliver key projects. These funds will be spent as planned and in accordance with funding agreements.
Designated Funds remain held at agreed levels to meet any appropriate redundancy costs and fees related to any business closure.
## **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 2023 the trustees had designated funds of £75,000 to meet this objective. A designated fund of £15,000 has also been made for emergency replacement of equipment and programming contingency. Total unrestricted funds were £331,571 which includes £128,168 of tangible fixed assets. The amount of free reserves held (excluding restricted funds, designated funds and tangible fixed assets) are £113,403. These funds are in excess of our policy. The trustees acknowledge that with the proposed development of a new cultural quarter in Swindon the charity may need to move premises. These excess reserves will allow the charity to cover the financial costs of any move.
## **Going concern**
The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.
## **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
Page 3
**Prime Theatre (Registered number: 02163378)**
## **Report of the Trustees for the Year Ended 31 March 2023**
## **Trustees**
Emma Carter Jamila Gavin Sharon Hodge Pete Horwat Sue Welsh (resigned 9.8.22) Pauline Scott-Garrett (resigned 15.12.22) Jacob Tyrrell Ben Newbury (resigned 15.3.22) Erin Fletcher-Rowbotham (appointed 13.9.22) Nick Capstick Laura Goulden John Pfumojena (resigned 1.8.23) Lau Batty Jade Bennett
**Company Secretary** Sarah Wrixon
**Independent Examiner** James Gare Monahans Chartered Accountants Hermes House Fire Fly Avenue Swindon Wiltshire SN2 2GA
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ N R Capstick - 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 2023.
## **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 member of the Institute of Chartered Accountants in England and Wales, 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:
1. 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
3. 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
4. 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.
James Gare
Monahans Chartered Accountants Hermes House Fire Fly Avenue Swindon Wiltshire SN2 2GA
Date: .............................................
Page 5
**Prime Theatre**
## **Statement of Financial Activities for the Year Ended 31 March 2023**
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
3
135,931
**Charitable activities**
6
Professional performances
30,103
Youth Theatre
3,328
Outreach & education
30,386
Other trading activities
4
720
Investment income
5
172
**Total**
200,640
**EXPENDITURE ON**
**Charitable activities**
7
Professional performances
60,867
Youth Theatre
43,296
Outreach & education
83,759
**Total**
187,922
**NET INCOME**
12,718
**Transfers between funds**
18
99,036
**Net movement in funds**
111,754
**RECONCILIATION OF FUNDS**
Total funds brought forward
219,817
**TOTAL FUNDS CARRIED FORWARD**
331,571|Restricted
funds
£
220,472
-
-
575
-
-
221,047
-
6,218
133,334
139,552
81,495
(99,036)
(17,541)
104,033
86,492|2023
Total
funds
£
356,403
30,103
3,328
30,961
720
172
421,687
60,867
49,514
217,093
327,474
94,213
-
94,213
323,850
418,063|2022
Total
funds
£
283,087
54,614
3,757
35,309
-
19|
|---|---|---|---|
||||376,786|
||||5,687
43,004
220,567|
||||269,258|
||||107,528
-|
||||107,528
216,322|
||||323,850|
The notes form part of these financial statements
Page 6
**Prime Theatre (Registered number: 02163378)**
|**Balance Sheet**
**31 March 2023**
Notes
**FIXED ASSETS**
Tangible assets
14
**CURRENT ASSETS**
Debtors
15
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
16
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**NET ASSETS**
**FUNDS**
18
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|2023
£
128,168
112,671
190,523
303,194
(13,299)
289,895
418,063
418,063
331,571
86,492
418,063|2022
£
35,993
23,114
276,759
299,873
(12,016)
287,857
323,850
323,850
219,817
104,033
323,850|
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 ............................................. and were signed on its behalf by:
............................................. N R Capstick - Trustee
The notes form part of these financial statements
Page 7
**Prime Theatre**
## **Notes to the Financial Statements for the Year Ended 31 March 2023**
## **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 2023**
## **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
Grants
Grants received, included in the above, are as follows:
Arts Council
Other grants
Swindon Borough Council
Wiltshire Community Foundation
Children in Need
Church Urban Fund - Windrush
People's Postcode Lottery
Community Lottery
Listening fund
South Swindon Parish Council|2023
£
1,154
355,249
356,403
2023
£
195,055
26,922
19,300
5,000
9,722
14,650
25,000
9,600
41,000
9,000
355,249|2022
£
397
282,690|
|---|---|---|
|||283,087|
|||2022
£
89,555
18,250
74,300
25,695
59,890
15,000
-
-
-
-|
|||282,690|
Page 9
continued...
**Prime Theatre**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2023**
## **4. OTHER TRADING ACTIVITIES**
|2023
£
Other income
720
**5.**
**INVESTMENT INCOME**
2023
£
Deposit account interest
172
**6.**
**INCOME FROM CHARITABLE ACTIVITIES**
2023
Activity
£
Professional productions -
ticket sales and other income Professional performances
8,411
Grants
Professional performances
21,692
Youth Theatre activities -
workshop and other income
Youth Theatre
3,328
Outreach & education activity
- workshops and other
income
Outreach & education
30,961
64,392
Grants received, included in the above, are as follows:
2023
£
Coronavirus Job Retention Scheme
-
Kickstart and Real Ideas Organisation
21,692
21,692
**7.**
**CHARITABLE ACTIVITIES COSTS**
Support
Direct
costs (see
Costs
note 8)
£
£
Professional performances
20,721
40,146
Youth Theatre
16,634
32,880
Outreach & education
78,364
138,729
115,719
211,755
**8.**
**SUPPORT COSTS**
Governance
Management
costs
£
£
Professional performances
39,559
587
Youth Theatre
32,409
471
Outreach & education
136,511
2,218
208,479
3,276|2022
£
-
2022
£
19
2022
£
6,210
48,404
3,757
35,309
93,680
2022
£
4,796
43,608
48,404
Totals
£
60,867
49,514
217,093|2022
£
-
2022
£
19
2022
£
6,210
48,404
3,757
35,309|
|---|---|---|
|||93,680|
|||2022
£
4,796
43,608|
|||48,404|
||327,474||
||Totals
£
40,146
32,880
138,729||
||211,755||
Page 10
continued...
**Prime Theatre**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2023**
## **9. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
||2023|2022|
|---|---|---|
||£|£|
|Depreciation - owned assets|27,583|12,546|
|Deficit on disposal of fixed assets|300|-|
|Accountancy and Independent Examination|1,770|2,031|
## **10. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
## **11. STAFF COSTS**
|**STAFF COSTS**|||
|---|---|---|
|Wages and salaries
Social security costs
Other pension costs|2023
£
138,245
7,090
2,660
147,995|2022
£
134,130
5,476
2,750|
|||142,356|
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 £52,555 (2022 - £51,141).
The average monthly number of employees during the year was as follows:
|Management team
Artists
Creative Arts and Arts admin assistants|2023
2
2
2
6|2022
2
2
5|
|---|---|---|
|||9|
No employees received emoluments in excess of £60,000.
|**12.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
119,002
**Charitable activities**
Professional performances
54,614
Youth Theatre
3,757
Outreach & education
35,309
Investment income
19
**Total**
212,701
**EXPENDITURE ON**
**Charitable activities**
Professional performances
5,687|Restricted
funds
£
164,085
-
-
-
-
164,085
-|Total
funds
£
283,087
54,614
3,757
35,309
19|
|---|---|---|
|||376,786|
|||5,687|
Page 11
continued...
**Prime Theatre**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2023**
|**12.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
Restricted
Total
funds
funds
funds
£
£
£
Youth Theatre
20,600
22,404
43,004
Outreach & education
150,936
69,631
220,567
**Total**
177,223
92,035
269,258
**NET INCOME**
35,478
72,050
107,528
**Transfers between funds**
50,000
(50,000)
-
**Net movement in funds**
85,478
22,050
107,528
**RECONCILIATION OF FUNDS**
Total funds brought forward
134,339
81,983
216,322
**TOTAL FUNDS CARRIED FORWARD**
219,817
104,033
323,850
**13.**
**GOVERNMENT GRANT INCOME**
2023
2022
£
£
Arts Council England
195,055
89,555
Swindon Borough Council
19,300
74,300
H M Revenue and Customs (CJRS + Kickstart)
-
56,774|**12.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
Restricted
Total
funds
funds
funds
£
£
£
Youth Theatre
20,600
22,404
43,004
Outreach & education
150,936
69,631
220,567
**Total**
177,223
92,035
269,258
**NET INCOME**
35,478
72,050
107,528
**Transfers between funds**
50,000
(50,000)
-
**Net movement in funds**
85,478
22,050
107,528
**RECONCILIATION OF FUNDS**
Total funds brought forward
134,339
81,983
216,322
**TOTAL FUNDS CARRIED FORWARD**
219,817
104,033
323,850
**13.**
**GOVERNMENT GRANT INCOME**
2023
2022
£
£
Arts Council England
195,055
89,555
Swindon Borough Council
19,300
74,300
H M Revenue and Customs (CJRS + Kickstart)
-
56,774|
Restricted
funds
£
22,404
69,631
92,035
72,050
(50,000)
22,050
81,983
104,033|Total
funds
£
43,004
220,567|
|---|---|---|---|
||||269,258|
||||107,528
-|
||||107,528
216,322|
||||323,850|
|||||
||2023
2022|||
||£
£|||
||195,055
89,555|||
||19,300
74,300|||
||-
56,774|||
|||||
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.
## **14. TANGIBLE FIXED ASSETS**
|**COST**
At 1 April 2022
Additions
Disposals
At 31 March 2023
**DEPRECIATION**
At 1 April 2022
Charge for year
Eliminated on disposal
At 31 March 2023
**NET BOOK VALUE**
At 31 March 2023
At 31 March 2022|Stage and
office
equipment
£
68,045
102,808
-
170,853
47,652
26,853
-
74,505
96,348
20,393|Motor
vehicles
£
26,508
17,950
(8,258)
36,200
10,908
730
(7,258)
4,380
31,820
15,600|Totals
£
94,553
120,758
(8,258)
207,053
58,560
27,583
(7,258)
78,885
128,168
35,993|
|---|---|---|---|
Page 12
continued...
**Prime Theatre**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2023**
## **15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Trade debtors
Other debtors
VAT
Prepayments and accrued income
**16.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Social security and other taxes
VAT
Accrued expenses
**17.**
**ANALYSIS OF NET ASSETS BETWEEN FUNDS**
Unrestricted
funds
£
Fixed assets
128,168
Current assets
216,702
Current liabilities
(13,299)
331,571
**18.**
**MOVEMENT IN FUNDS**
At 1.4.22
£
**Unrestricted funds**
General fund
129,817
Designated fund - core costs and
redundancy costs
75,000
Designated fund - Emergency replacement
of equipment and programming
contingency
15,000
219,817
**Restricted funds**
Youth Theatre
3,138
Science Project
16,175
Teacher Development
25,235
Windrush
-
Safer Streets
25,500
Rock around the rocks
7,475
4Nations
4,500
Young leaders
4,250
Creative Arts
17,760
Youth Wellbeing Officer - Postcode lottery
-
Listening fund
-
Capital grant
-
Youth Wellbeing Officer - TNL Community
Fund
-
104,033
**TOTAL FUNDS**
323,850|Restricted
funds
£
-
86,492
-
86,492
Net
movement
in funds
£
12,718
-
-
12,718
3,943
(16,175)
(25,235)
(6,464)
(25,500)
(7,475)
(4,500)
(439)
(17,760)
25,000
41,000
105,500
9,600
81,495
94,213|2023
£
49,165
52,050
8,957
2,499
112,671
2023
£
3,648
-
9,651
13,299
2023
Total
funds
£
128,168
303,194
(13,299)
418,063
Transfers
between
funds
£
99,036
-
-
99,036
-
-
-
6,464
-
-
-
-
-
-
-
(105,500)
-
(99,036)
-||2022
£
21,388
-
-
1,726|
|---|---|---|---|---|
|||||23,114|
||||2022
£
2,079
1,365
8,572
12,016
2022
Total
funds
£
35,993
299,873
(12,016)
323,850
At
31.3.23
£
241,571
75,000
15,000
331,571
7,081
-
-
-
-
-
-
3,811
-
25,000
41,000
-
9,600
86,492
418,063|2022
£
2,079
1,365
8,572|
|||||12,016|
Page 13
continued...
**Prime Theatre**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2023**
## **18. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
RTYDS
Youth Theatre
Science Project
Teacher Development
Windrush
Safer Streets
Rock around the rocks
4Nations
Young leaders
Creative Arts
Youth Wellbeing Officer - Postcode lottery
Listening fund
Town Gardens project
Capital grant
Youth Wellbeing Officer - TNL Community
Fund
**TOTAL FUNDS**|Incoming
resources
£
200,640
6,000
9,722
-
575
14,650
-
-
-
-
-
25,000
41,000
9,000
105,500
9,600
221,047
421,687|Resources
Movement
expended
in funds
£
£
(187,922)
12,718
(6,000)
-
(5,779)
3,943
(16,175)
(16,175)
(25,810)
(25,235)
(21,114)
(6,464)
(25,500)
(25,500)
(7,475)
(7,475)
(4,500)
(4,500)
(439)
(439)
(17,760)
(17,760)
-
25,000
-
41,000
(9,000)
-
-
105,500
-
9,600
(139,552)
81,495
(327,474)
94,213|
|---|---|---|
Page 14
continued...
**Prime Theatre**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2023**
## **18. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
Designated fund - core costs and
redundancy costs
Designated fund - Emergency replacement
of equipment and programming
contingency
**Restricted funds**
Youth Theatre
Science Project
Teacher Development
Deaf Project
Looked After
Windrush
Iwill
Safer Streets
Rock around the rocks
4Nations
Young leaders
Creative Arts
DCMS Youth Investment Fund
**TOTAL FUNDS**|At 1.4.21
£
100,275
34,064
-
134,339
9,392
5,340
52,040
9,295
385
3,000
2,531
-
-
-
-
-
-
81,983
216,322|Net
movement
in funds
£
35,478
-
-
35,478
(6,254)
10,835
(26,805)
(9,295)
(385)
(3,000)
(2,531)
25,500
7,475
4,500
4,250
17,760
50,000
72,050
107,528|Transfers
between
funds
£
(5,936)
40,936
15,000
50,000
-
-
-
-
-
-
-
-
-
-
-
-
(50,000)
(50,000)
-|At
31.3.22
£
129,817
75,000
15,000|
|---|---|---|---|---|
|||||219,817
3,138
16,175
25,235
-
-
-
-
25,500
7,475
4,500
4,250
17,760
-|
|||||104,033|
|||||323,850|
Comparative 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
Windrush
Iwill
Safer Streets
Rock around the rocks
4Nations
Young leaders
Creative Arts
DCMS Youth Investment Fund
**TOTAL FUNDS**|Incoming
resources
£
212,701
9,890
17,500
-
3,195
-
15,000
-
30,000
9,700
4,500
5,000
19,300
50,000
164,085
376,786|Resources
Movement
expended
in funds
£
£
(177,223)
35,478
(16,144)
(6,254)
(6,665)
10,835
(26,805)
(26,805)
(12,490)
(9,295)
(385)
(385)
(18,000)
(3,000)
(2,531)
(2,531)
(4,500)
25,500
(2,225)
7,475
-
4,500
(750)
4,250
(1,540)
17,760
-
50,000
(92,035)
72,050
(269,258)
107,528|Resources
Movement
expended
in funds
£
£
(177,223)
35,478
(16,144)
(6,254)
(6,665)
10,835
(26,805)
(26,805)
(12,490)
(9,295)
(385)
(385)
(18,000)
(3,000)
(2,531)
(2,531)
(4,500)
25,500
(2,225)
7,475
-
4,500
(750)
4,250
(1,540)
17,760
-
50,000
(92,035)
72,050
(269,258)
107,528|
|---|---|---|---|
||||72,050|
||||107,528|
Designated funds:
Page 15
continued...
**Prime Theatre**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2023**
## **18. MOVEMENT IN FUNDS - continued**
Core costs and redundancy costs - a fund has been set up to designate 3 months of core costs plus redundancy costs.
Emergency replacement of equipment and programming contingency - a fund has been set up to designate . costs for the emergency replacement of equipment and programming contingency.
Restricted funds:
Youth theatre - various donations received to help young people take part in youth theatre including funding from Children in Need for inclusive youth theatre.
Science project - a Wiltshire Community Foundation grant to fund the animation of Science & Engineering in Swindon schools
Deaf project - funding received from WCF, Persimmons homes, Postcode Lottery and the Mericos Foundation for activities and access for Dead children and young people
Teacher development - funding from Paul Hamlyn Foundation
Looked after - funding for looked after children to complete Arts Awards
Windrush - Funding for Windrush day events
#iwill - Funding to create young arts leaders within the community
DCMS Youth Investment Fund - funding from Children in Need to purchase and kit out the Arts Award van.
Creative Arts - Funding for the Creative Arts Programme for young people to engage with creative arts.
Safer Streets - Funding for SBC violence against women film project
Rock around the rocks- Funding for Larkhill Military covenant community project at Stonehenge
4Nations - Funding for Queer Young People Writing project
Capital grant - funding from Arts Council for the purchase of high quality, environmentally sustainable technical/digital equipment & second-hand van for combined Arts Award workshops & resources across the county to key areas & those with physical disabilities.
Youth Wellbeing Officer - Funding from TNL Community fund & Postcode Lottery for a new Youth Wellbeing Officer to give mental health support to Young People across our projects
Listening Fund - Funding to creative leadership opportunities for young people within the creative sector
Town Gardens Project - Funding from South Swindon Parish Council for events & food in the Town Gardens for those within their priority groups
RTYDS - Funding for wages of a 3 month placement for young Director
## **Transfers between funds**
A transfer of £105,500 from the restricted Capital Grant Fund to the general fund relates to the purchase of fixed assets.
Page 16
continued...
**Prime Theatre**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2023**
## **19. EMPLOYEE BENEFIT OBLIGATIONS**
The charity operates a defined benefit pension scheme. The costs for the period was £2,660 (2022: £2,750). At 31 March 2023, contributions of £474 were payable (2022: £451).
## **20. RELATED PARTY DISCLOSURES**
The Trustee, L Goulden, was paid £Nil (2022: £755) 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 17