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





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|||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<br>and legacies|||2|915,508||915,508|1,181,090|
|Charitable<br>activities|||5|||||
|Theatre||||297,984||297,984|10,203|
|Other trading<br>activities|||3|58,481||58,481|15,977|
|Investment<br>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<br>and|legacies||7|1,500||1,500|1,500|
|Other trading<br>activities|||8|59084|-|59084|70 186|
|||||60,584||60,584|71,686|
|Charitable<br>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|





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||||||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<br>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<br>I|
|FUNDS||21|||||
|Unrestricted<br>funds|||||576,695|564,685|
|Restricted funds|||||3480 508|3 592 934|
|TOTAL FUNDS||||||41<br>1|





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||||||31.3.22|31.3.21|
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|Total|
||||fund|funds|funds|funds|
|||Notes||||8|
|FIXED ASSETS|||||||
|Tangible<br>assets||16|256,940|3,480,508|3,737,448|3,858,976|
|CURRENT ASSETS|||||||
|Stocks<br>Debtors||17<br>18|2,682<br>106,374||2,682<br>106,374|2,682<br>99,417|
|Cash at bank and in hand|||452 260||452 260|377804|
||||561,316||561,316|479,903|
|CREDITORS|||||||
|Amounts<br>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<br>funds|||||576,695|564,685|
|Restricted<br>funds|||||3 480 508|3 592934|
|TOTAL FUNDS|||||4057203|4 157619|





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||||||To|rch The|atre Company<br>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<br>from operations||||||||90615|293 550|
|Net cash provided|by operating|||activities||||90615|293 550|
|Cash ilows from|investing||activities|||||||
|Purchase oftangible<br>fixed||assets||||||(16,i98)|(33,499)|
|Interest received||||||||39|66|
|Net cash used in|investing|activities||||||~16159)|33433|
|Change<br>in cash and cash||equivalents|||in|thc||||
|reporting<br>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<br>period||||||||452 260|377 804|





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|RECONCILIATIO<br>ACTI<br>V ITIES|N<br>O|F NET (EXPENDIT|URE)/INCOME<br>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<br>for:||||||
|Depreciation<br>charges||||137,727|138,273|
|Loss on disposal of|fixed|assets|||6,521|
|Interest received||||(39)|(66)|
|Decrease<br>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|



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|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|





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|DONATIONS<br>AND L|EGACIES|||
|---|---|---|---|
|||31.3.22|31.3.21|
|Arts Council ofWales||452,522|452,522|
|Pembrokeshire<br>County Council||20,000|63,340|
|Milford Haven Town Council||7,000|7,000|
|Gihs and donations||15,503|11,766|
|LED Installation<br>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|





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||OTHER TRADING|A|CTIVIT|IES|||||
|---|---|---|---|---|---|---|---|---|
||||||||31.3.22|31.3.21|
||Kiosk sales||||||43,016||
||Telephone<br>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<br>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<br>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||||||||






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|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|





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|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|



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





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|||Notes to the Financial Statements<br>- continued<br>for the Year Ended 31 March 2022|Notes to the Financial Statements<br>- continued<br>for the Year Ended 31 March 2022|Notes to the Financial Statements<br>- continued<br>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<br>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|||||





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||||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|



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





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





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|||||||||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<br>funds||||
|General<br>fund|2,452,570|(2,152,049)|300,521|
|Restricted<br>funds||||
|Restricted<br>funds|44,755|(250,645)|(205,890)|
|TOTAL FUNDS|2 497 325|(2,402,694)|94,631|





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||||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 <br>Film Hub Wales Young|Theatre)<br> Film Ambassador|Grant|55,375<br>3 200|(1,500)<br>~32tlO|53,875|
||||3 592934|(112,426)|3,480,508|



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