2022-03-31-accounts - The Torch Theatre Company Limited

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Contents ofthe Financial Statements
for the Year Ended 31March 2022
		Page
Report ofthe Trustees	I	to	8
Report ofthe Independent Auditors	9	to	11
Statement ofFinancial Activities		12
Balance Sheet	13	to	15
Cash Flow Statement		16
Notes to the Cash Flow Statement		17
Notes to the Financial Statements	18	to	29

		for	the Year E	nded 31 March	2022
						31.3.22	31.3.21
				Unrestricted	Restricted	Total	Total
				fund	funds	funds	funds
			Notes
INCOME AND ENDOWMENTS		FROM
Donations and legacies			2	915,508		915,508	1,181,090
Charitable activities			5
Theatre				297,984		297,984	10,203
Other trading activities			3	58,481		58,481	15,977
Investment income			4	39		39	66
Other income			6	17977		17977
Total				1,289,989		1,289,989	1,207,336
EXPENDITURE ON
Raising funds
Raising donations and	legacies		7	1,500		1,500	1,500
Other trading activities			8	59084	-	59084	70 186
				60,584		60,584	71,686
Charitable activities			9
Theatre				1,217,395	112,426	1,329,821	934,082
Other							6 521
Total				1,277,979	112,426	1,390,405	1,012,289
NET INCOME/(EXPENDITURE)				12,010	(112,426)	(100,416)	195,047
RECONCILIATION	OF FUNDS
Total funds brought	forward			564,685	3,592,934	4,157,619	3,962,572
TOTAL FUNDS CARRIED FORWARD				576695	3,480,508	4,057,203	4,157,619

					31.3.22	31.3.21
			Unrestricted	Restricted	Total	Total
			fund	funds	funds	funds
		Notes	f,		f,	f,
FIXED ASSETS
Tangible assets		16	256,940	3,480,508	3,737,448	3,858,976
Investments		26	10		10	10
			256,950	3,480,508	3,737,458	3,858,986
CURRENT ASSETS
Stocks		17	2,682		2,682	2,682
Debtors		18	276,059		276,059	99,417
Cash at bank and in hand			452 260		452 260	377 804
			731,001		731,001	479,903
CREDITORS
Amounts falling due within	one year	19	(411,256)		(411,256)	(181,270)
NET CURRFNT ASSETS			319745		3)9743	~298633)
TOTAL ASSETS LESSCURRENT
LIABILITIES			576,695	3,480,508	4,057,203	4,157,619
NET ASSETS				~4	4tl23	~41 I
FUNDS		21
Unrestricted funds					576,695	564,685
Restricted funds					3480 508	3 592 934
TOTAL FUNDS						41 1

					31.3.22	31.3.21
			Unrestricted	Restricted	Total	Total
			fund	funds	funds	funds
		Notes				8
FIXED ASSETS
Tangible assets		16	256,940	3,480,508	3,737,448	3,858,976
CURRENT ASSETS
Stocks Debtors		17 18	2,682 106,374		2,682 106,374	2,682 99,417
Cash at bank and in hand			452 260		452 260	377804
			561,316		561,316	479,903
CREDITORS
Amounts falling due within	one year	19	(241,561)		(241,561)	(181,260)
NET CURRENT ASSETS			319755		319755	298643
TOTAL ASSETS LESSCURRENT
LIABILITIES			576,695	3,480,508	4,057,203	4,157,619
NET ASSETS			576 695	3,480,508	4,057,203	4,157,619
FUNDS		21
Unrestricted funds					576,695	564,685
Restricted funds					3 480 508	3 592934
TOTAL FUNDS					4057203	4 157619

					To	rch The	atre Company Limited	(The)
							Cash Flow Statement
						for the	Year Ended 31March	2022
								31.3.22	31,3.21
						Notes
Cash flows from	operating		activities
Cash generated from operations								90615	293 550
Net cash provided	by operating			activities				90615	293 550
Cash ilows from	investing		activities
Purchase oftangible fixed		assets						(16,i98)	(33,499)
Interest received								39	66
Net cash used in	investing	activities						~16159)	33433
Change in cash and cash		equivalents			in	thc
reporting period								74,456	260,117
Cash and cash equivalents			at the beginning
ofthe reporting	period							377804	117687
Cash and cash equivalents			at the end		of	thc
reporting period								452 260	377 804

RECONCILIATIO ACTI V ITIES	N O	F NET (EXPENDIT	URE)/INCOME TO NET CASH	FLOW FROM OP	ERATING
				31.3.22	31.3.21
Net (expenditure)/income		for the reporting	period (as per the Statement
ofFinancial Activities)				(100,416)	195,047
Adjustments for:
Depreciation charges				137,727	138,273
Loss on disposal of	fixed	assets			6,521
Interest received				(39)	(66)
Decrease in stocks					3,408
Increase in debtors				(6,957)	(45,052)
Increase/(decrease)	in creditors			60 300	~4581)
Net cash provided	by op	erations		90615	293,550

ANALYSIS OF CHANGES IN NET FUNDS
	At 1.4.21	Cash flow	At 31.3.22
Net cash
Cash at bank and in hand	377804	74 456	452 260
	377804	74 456	452 260
Total	377804	74,456	452,260

DONATIONS AND L	EGACIES
		31.3.22	31.3.21
Arts Council ofWales		452,522	452,522
Pembrokeshire County Council		20,000	63,340
Milford Haven Town Council		7,000	7,000
Gihs and donations		15,503	11,766
LED Installation Support (ACW)			4,245
Covid 19JRSgrant		25,615	175,087
PCC rates relief grant		1,500	35,000
ACW stabil isation grant			35,000
ACW cultural recovery	fund	393,368	344,910
ACW Fly Tower project			23,970
Donated assets			15,000
Film Hub Wales/BFI Covid Grant			10,050
Film Hub Young Film Ambassador			3200
		915508	1 181090

	OTHER TRADING	A	CTIVIT	IES
							31.3.22	31.3.21
	Kiosk sales						43,016
	Telephone mast rental						15465	15977
							58 481	15,977
4.	INVESTMENT INCOME
							31.3.22	31.3.21
	Deposit account interest						39	66
	The charity's investnient		income	arises wholly	from interest bearing	cash deposits.
	INCOME FROM CHARITABLE ACTIVITIES
							31.3.22	31.3.21
				Activity
	Theatre			Theatre			171,041	3,755
	Films			Theatre			91,487
	Youth theatre and education			Theatre			9,557	4,999
	Hire oftheatre			Theatre			3,202
	Sales ofprogrammes	etc.		Theatre			779	28C
	Technical hire			Theatre			4,881	1,119
	Set construction			Theatre			7, 117	5(
	Sundry theatre income			Theatre			9920
							297 984	10203
6.	OTHER INCOME

8.	OTHER	TRADING ACTIVITIES	TRADING ACTIVITIES	TRADING ACTIVITIES
							31.3.22	31.3.21
	Purchases						26,929	3,598
	Staff costs						11,644	54,060
	Equipment		repairs and	renewals			15,352	7,219
	Other direct		costs				3,847	3,997
	Depreciation						1 312	1 312
							59084	70,186
9.	CHARITABLE ACTIVITIES COSTS
							Support
					Direct		costs (see
					Costs		note 10)	Totals
							f,
	Theatre				I 062	461	267 360	1 329 821
10.	SUPPORT		COSTS
							Governance
					Management		costs	Totals
	Theatre				~25	434	8,926	267,360
11.	NET INCOME/(EXPENDITURE)
	Net income/(expenditure)			is stated after charging/(crediting):
							31.3.22	31.3.21
	Auditors'	remuneration					2,600	2,500
	Auditors'	remuneration		for non audit work			2,924	2,860
	Depreciation		-owned assets				137,726	138,273
	Deficit on	disposal offixed assets						6,521

STAFF COSTS
				31.3.22	31.3.21
					I
Wages and salaries				632,334	558,518
Social security costs				37,593	30,233
Other pension costs				8593	8253
				678 520	597004
The average monthly	number ofemployees	during	the year was as follows:
				31.3.22	31.3.21
Theatre and facilities				19	22
Publicity				2	3
Administration				6	6

		Unrestricted	Restricted	Total
		fund	funds	funds
		f,
INCOME AND ENDOWMENTS	FROM
Donations and legacies		1,136,335	44,755	1,181,090
Charitable activities
Theatre		10,203		10,203
Other trading activities		15,977		15,977
Investment income		66		66
Total		1,162,581	44,755	1,207,336
EXPENDITURE ON
Raising funds Raising donations and legacies		1,500		1,500
Other trading activities		70,186		70,186

		Notes to the Financial Statements - continued for the Year Ended 31 March 2022	Notes to the Financial Statements - continued for the Year Ended 31 March 2022	Notes to the Financial Statements - continued for the Year Ended 31 March 2022
14.	COMPARATIVES	FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
			Unrestricted	Restricted	Total
			fund	funds	funds
			71,686		71,686
	Charitable activities
	Theatre		795,863	138,219	934,082
	Other		6 521		6521
	Total		874,070	138,219	1,012,289
	NET INCOME/(EXPENDITURE)		288,511	(93,464)	195,047
	RECONCILIATION	OF FUNDS
	Total funds brought	forward	276,174	3,686,398	3,962,572
	TOTAL FUNDS CARRIED FORWARD		564685	3,592,934	~4157619
15.	TAXATION

			Theatre
			refurbishment		Fixtures
		Freehold	(1996-	Theatre	and
		property	2000)	redevelopment	fittings	Totals
			I			I
COST
At	1 April 2021	407,808	28,270	4,638,069	1,414,928	6,489,075
Additions					16 198	16 198
At	31 March 2022	407 808	28 270	4638 069	1 431 126	6 505 273
DEPRECIATION
At	1 April 2021	147,893	28,270	1,18 1,2 I4	1,272,722	2,630,099
Charge for year		8 157		92761	36 808	137726
At	31 March 2022	156050	28 270	1 273 975	1 309530	2767825
NET BOOK VALUE
At	31 March 2022			3 364,094	121,596	3,737,448
At	31 March 2021	259915		3,456,855	142,206	3,858,976

DEBTORS:	AMOUNTS FALLING DU	E WITHIN ONE YEA	R
		31.3.22	31.3.21	31.3.22	31.3.21
		f,
		Group	Group	Charity	Charity
Other debtors		65,562	41,476	235,247	41,476
Prepayments	and accrued income	24,139	22,672	24,139	22,672
VAT		16673	35269	16673	35269
		106374	99.417	276 059	99417

CREDIT	ORS:	AMOUNTS FALLING	DUE WITHIN ONE Y	EAR
			31.3.22	31.3.21	31.3.22	31.3.21
			Group	Group	Charity	Charity
Advance	receipts		72,352	45,788	72,352	45,788
Deferred	income		1,673	10,559	1,673	10,559
Sundry creditors		and accruals	167536	124923	337231	124 923
			241 561	~181270	~411256	181270

	31.3.22	31.3.21
Within one year	5,271	5,271
Between one and tive years		5 272
	5 271	10,543

				Net
				movement	At
			At 1.4.21	in funds	31.3.22
Unrestricted funds
General fund			564,685	12,010	573,495
Restricted funds
Restricted funds			3,592,934	(112,426)	3,483,708
TOTAL FUNDS			4 157619	(100,416)	4,057,203
Net movement in funds, included		in the above are as follows:
			Incoming	Resources	Movement
			resources	expended	in funds
Unrestricted funds
General fund			1,289,989	(1,277,979)	12,010
Restricted funds
Restricted funds				(112,426)	(112,426)
TOTAL FUNDS			I 289 989	(1,390,405)	(100,416)
Comparatives for movement	in	funds
				Net
				movement	At
			At 1.4.20	in funds	31.3.21
Unrestricted funds
General fund			276,174	288,511	564,685
Restricted funds
Restricted funds			3,686,398	(93,464)	3,592,934
TOTAL FUNDS			3 962 572	195,047	4 157,619

								Incoming	Resources	Movement
								resources	expended	in funds
									f
unrestmctea			tunas
General	fund						1,162,581		(874,070)	288,511
Restricted		funds
Restricted		funds						44,755	(138,219)	(93,464)
TOTAL	FUNDS						I	207336	~1012289)	195047
A current		year	12months	and prior year 12months	combined	position	is as follows:
									Net
									movement	At
							At 1.4.20		in funds	31.3.22
Unrestncteu			tunas
General	fund							276,174	300,521	576,695
Restricted		funds
Restricted		funds					3,686,398		(205,890)	3,480,508
TOTAL	FUNDS						3	962 572	94 631	4057203

	Incoming	Resources	Movement
	resources	expended	in funds
		f,
Unrestricted funds
General fund	2,452,570	(2,152,049)	300,521
Restricted funds
Restricted funds	44,755	(250,645)	(205,890)
TOTAL FUNDS	2 497 325	(2,402,694)	94,631

			Balance
			as at	Movement	Balance as
			01.04.21	in Year	at 31.03.22
Capital Reserve (Main	Theatre)		97,346	(3,757)	93,589
Capital Re-development	Fund		3,437,013	(103,969)	3,333,044
Capital Reserve (Studio Film Hub Wales Young	Theatre) Film Ambassador	Grant	55,375 3 200	(1,500) ~32tlO	53,875
			3 592934	(112,426)	3,480,508