## 

## 

|**Trustees** _I_**Directors**|EdAderson|||
|---|---|---|---|
||Mark Armour|||
||Howard Gatiss|||
||Renee Hunt|||
||HenriettaJowitl|||
||Paul LeeOBE|||
||Peter Maniura|||
||Richard Mantle OBE|||
||Rosie Millard|||
||Cllr JonathanPryor|||
||IrvingWamett|||
|**Company Secretary**|Kirsten Bullen|||
|**General Director and Chief Executive**|Richard Mantle OBE|||
|**Committee Chairs**||||
|Finance andGeneral Purposes|IrvingWamett|||
|Development|CliveLloyd|||
|Nominations|PaulleeOBE|||
|Health and Safety|Richard MantleOBE|||
|Equality Diversityand Inclusion|Renee Hunt|||
|**Charity number**|511726|||
|Company number|01550778|||
|Registered office|HowardOpera Centre|||
||8 Harrison Street|||
||Leeds|||
||LS1 6PA|||
|Auditor|RSM UKAudit LLP|||
||Chartered Accountants|||
||Central Square|||
||5th Floor|||
||29Wellington Street|||
||Leeds|||
||LS1 4DL|||
|Bankers|`HSBC`|Coutts & Co||
||33 Park Row|440 Strand||
||Leeds|London||
||LS1 1D|WC2R0QS||
|Solicitors|Wrigleys LLP|WombleBond Dickinson|Blacks Solicitors LLP|
||19CookridgeStreet|1 \/Vhitehaß Rd|City Point|
|Leeds||Leeds|29 KingStreet|
|LS2 3AG||LS1 4BN|Leeds|
||||LS1 2HL|





## 

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|Committee Chairs||
|---|---|
|Finance and General Purposes|Irving Wamett|
|Development|Clive Lloyd|
|Nominations|Paul Lee OBE|
|Health and Safety|Richard Mantle OBE|
|Equality Diversity and Inclusion|Renee Hunt|
|General Directorand Chief<br>Executive|Richard Mantle OBE|






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|||||||Total|Total|Total|
|---|---|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|||||
||||funds|funds||**2021**||**2020**|
|||**Notes**|£||£||£|£|
|Incomefrom:|||||||||
|Donationsandlegacies||**2**|14,039,619|351,098||14,390,717||12,598,326|
|Capital ProjectDonations||2|100,000|835,577||935,577||638,676|
|_Other trading activities:_|||||||||
|Sponsorship||3|119,314|||119,314||152,808|
|Rental income||3||||||96,510|
|Incomefrom investments||**4**|6,849|6,510||13,359||28,992|
|_income from charitable activities._|||||||||
|Incomefromproductionsandperformances||**5**|356,443|||356,443||2,949,881|
|_Other._|||||||||
|Other income||6|2,064,073|||2,064,073||71,902|
|Total income|||16,686,298|1,193,185||17,879,483||16,537,095|
|**Expenditure on:**|||||||||
|Costs ofraising funds||_7_|349,146|||349,146||417,775|
|_Expenditure on charitable activities:_|||||||||
|Costsofproduction andperformances||**8**|10,361,693|365,691||10,727,384|17,214,317||
|Capitalprojectrelated||**8**|361,370|||361,370||788,560|
|Total **expenditure**|||11,072,209|365,691||11,437,900|18,420,652||
|Netmovementin fundsfortheyear|||||||||
|**before tax**|||5,614,089|_827,494_||6,441,583|(1,883,557)||
|Theatre and Orchestral laxcredit||**14**|||||1,206,979||
|Netmovementin fundsfortheyearafter|**22&23**||||||||
|**tax**|||5,614,089|827.494||6,441,583||(676,578)|
|Reconciliation offunds|||||||||
|Totalfunds brought forward|**22**|& 23|10,842,463|13,605,533|24,447,996||25,124,574||
|Total fundscarried forward|**22 **|**& 23**|16,456,552|14,433,027|30,889,579||24,447,996||






## 

## 

||||||2021||2020|
|---|---|---|---|---|---|---|---|
|||Notes||£|£|£|£|
|Fixedassets||||||||
|Tangibleassets||**15**||23,806,317|||18,029,496|
|||||23,806,317|||18,029,495|
|Cumrentassets||||||||
|Investments||16|50,000|||75,000||
|Debtors due within one _year_||**17**|2,138,109|||4,871,237||
|Debtors due aftermore than oneyear||47|16,582|||123,414||
|Cashatbankandin hand|||8,298,319|||4,604,119||
||||10,503,010|||9,673,770||
|Creditors: amountsfallingduewithin ..||**18**||||||
|oneyear|||(3,360,846)|||(1,904,124)||
||||||||-|
|Netcurrentassets||---|- .<br> ----- --|7,142,164|||7,769.646|
|Totalassets less current liabilities||||30,948,481|||25,799,142|
|Creditors: amounts falling due after|. 20|||||||
|more than oneyear||||(58,902)|||(1,351,146)|
|Netassets||||30,889,579|||24,447,996|
|incomefunds||||||||
|Unrestrictedfunds|`23`|||16,456,552|||10,842,463|
|Restricted funds|22|||14,433,027|||13,605,533|
||||30,889,579||||24,447.,996|









||||2021||2020|
|---|---|---|---|---|---|
||**Notes**|£|£|£|£|
|Fixedassets||||||
|Tangible assets|**15**||23,805,317||18,029,496|
|Investments|**16**||1||1|
||||23,806,318||18,029,497|
|Currentassets||||||
|investments|**16**|50,000||75,000||
|Debtors due_within_ oneyear|**17**|2,138,109||7,837,036||
|Debtors due aftermore thanone_year_|**17**|16,5€2||123,414||
|Cashatbank andin hand||8,297,479||4,603,280||
|||10,502,170||12,638,730||
|Creditors: amounts falling**due within**|**18**|||||
|**on@ year**--------||(3,383,611)||(4,896,503)||
|Net**current**assets|||7,118,559||7,742,227|
|Total assets less currentliabilities|||30,924,877|..|25,771,724|
|Creditors: amountsfalling due _after_|_20_|||||
|morethan oneyear|||(58,902)||(1,351,146)|
|Netassets|||30,865,975||24,420,578|
|Income funds||||||
|Unrestricted funds|`23`|16,432,948||10,815,045||
|Restricted funds|22|14,433,027||13,605,533||
|||30,865,975||24,420,578||







## 

## 

## 

||||**2021**||2020|
|---|---|---|---|---|---|
||**Notes**|£|£|£|£|
|Cash flowsfromoperatingactivities||||||
|Cash generated fromoperations|`25`||8,857.,689||8,245,490|
|Movementin taxreliefdebtor|||1,206,979||230,138|
|Netcash inflowfromoperating activities|||10,064,668||8,475,628|
|Investing activities||||||
|Purchaseoftangible fxedassets||(6,252,681)||(5,670,476)||
|Purchaseofother investments||||||
|Returnson investments||||28,992||
|Netcash used in investing activities|||(6,252,681)||(5,641,484)|
|Cash flowsfromfinancing activities||||||
|Repaymentofborrowings||(109,198)||(97,598)||
|Obligationsunderfinancelease||(8,589)||(18,392)||
|Netcash used infinancing activities|||(117,787)||(115,990)|
|Netincrease in cash and cash equivalents|||3,694,200||2,718,154|
|Cash and cash equivalents_at_beginningofyear|||4,604,119||1,885,965|
|Cash andcash equivalentsatend ofyear|||8,298,319||4,604,119|






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## 

||**`2021`**|**`2020`**|
|---|---|---|
||£|£|
|Arts Council Englandgrant|10,577.101|10,386.000|
|Arts Council Englandand DepartmentofEducationgrant|150,000|150,000|
|DCMS Culture Recovery FundGrant|2,000,000||
|Local Authorities' grants|465,000|465,000|
|Trusts and individuals' donations|1,198,616|1,597,326|
||14,390,717|12,598,326|



|||**`2021`**|**`2020`**|
|---|---|---|---|
|||`£`|£|
|Restricted|funds|351,096|849,753|
|||351,098|849,573|



|Capitalprojectdonations|||
|---|---|---|
||**`2021`**|**`2020`**|
||`£`|`£`|
|Music Works campaign|935,577|638,676|
||935,577|638,676|
|Included within capital project donations are donations relating to _the_ Music|works campaign of which||
|£835,577 (2020 -£638,676) areamounts which relatelorestricted funds.|||



||**`2021`**|**`2020`**|
|---|---|---|
|SponsorshipandPartnerships|£|£|
|Corporate & HEpartnershipsandsponsorships|119,314|152,808|
||119,314|152,808|





## 

## 

||3|Income from other trading activities (Continued)|||
|---|---|---|---|---|
||||2021|2020|
|||Rental income|£|£|
|||Production hire &co-production income||96,510|
|||||96,510|
|||All rental income is classed as unrestricted income in the prior year.|||
|**4**||Income from investments|||
||||**`2021`**|**`2020`**|
||||£|£|
|||Bank interest|13,359|28,992|
||||13,359|28,992|



||**`2021`**|**`2020`**|
|---|---|---|
|Income from productions and performances:|£|£|
|Opera box office receipts|26,917|2,000,708|
|Concerts receipts|35,746|331,759|
|Programme sales||71,380|
|Education and other project activity|277,848|485,547|
|Sundry Income|15,932|60,487|
||356,443|2,949,881|



|||||**`2021`**|**`2020`**|
|---|---|---|---|---|---|
|||||£|£|
|Job|Retention|Scheme|grant|2,064,073|71,902|
|||||2,064,073|71,902|





## 

## 

|7|Expenditure on raising funds|||
|---|---|---|---|
|||**`2021`**|**`2020`**|
||Fundraising costs ofgrants and donations can be analysed as:|£|£|
||Staff costs|275,724|264,975|
||Directdepartmentalcosts for fundraising materials and evenls|40,164|125,935|
||Capital project fundraising|9,838||
||General support costs (10% allocation) and depreciation (see noie 9)|23,420|26,865|
|||349,146|417,775|



||Staffcosts|Staffcosts|Other costs|Depreciation|**Total**|Total|
|---|---|---|---|---|---|---|
|Costs ofperforming company and|||||**`2021`**|**`2020`**|
|related costs:|||||||
|||£|£|£|£|£|
|Costs ofperforming company and|||||||
|related costs|7,845,784||2,292,790|469,864|10,608,438|17,110,617|
|Governance costs|55,437||63,509||118,946|103,700|
||7,901,221||2,356,299|469,864|10,727,384|17,214,317|
|Other costs can be further analysed as.|||||**2021**|**2020**|
||||||£|£|
|Concert and education programme costs|||||437,903|1,132,213|
|Production and stage management costs|||||335,689|968,113|
|Artists, performers and creative teams|||||593,205|3,022,648|
|Rehearsal, storage and premises rental|||||79,309|103,745|
|Marketing costs|||||187,509|514,390|
|Transport|||||10,079|163,804|
|Theatre rental and costshare|||||33,204|987,327|
|Subsistence and tour travel costs|||||(19,705)|450,217|
|General support cosi allocation (90%) (see|note 9)||||603,409|636,570|
|Interest payable|||||32,188|41,653|
||||||2,292,790|8,020,680|
|Governance costs:|||||||
|Legal and professional fees|||||24,309|13,255|
|Auditfees|||||23,200|19,350|
|General office|||||16,000|16,000|
||||||63,509|48,605|
||||||2,356,299|8,069,285|





## 

## 

## 

|**Support costs**|||
|---|---|---|
||**`2021`**|**`2020`**|
||£|£|
|IT equipment, licencesand maintenance|138,824|129,940|
|Premises costs|85,068|93,582|
|Insurance|145,193|143,010|
|Generalofficecosts|257,744|302,903|
||626,829|663,435|



|is stated:|||
|---|---|---|
||**`2021`**|**`2020`**|
||£|£|
|Aftercharging:|||
|Auditor'sremuneration-auditfees|23,200|19,350|
|Depreciation|475,860|476,900|
|Operating leaserentals- other|25,562|28,412|
|Interestpayable|32,188|41,653|
|And aftercrediting:|||
|Bankdepositinterest|13,359|28,992|





## 

## 

## 

## 

## 

## 

|category, was asfollows:|||
|---|---|---|
||2021|2020|
||Number|Number|
|Orchestra, chorus and music|97|99|
|Technical|45|46|
|Administration, Education and Projects|89|88|
||231|233|





## 

## 

|13|Staff numbers and costs (continued)|||
|---|---|---|---|
||The aggregate payroll costs ofthese personswere asfollows:|**`2021`**|**`2020`**|
|||£|£|
||Wages and salaries|7,098,125|7,809,157|
||Socialsecurity costs|660,548|749,906|
||Pension costs|384,940|380,707|
|||8,143,613|8,939,770|



||**`2021`**|**`2020`**|
|---|---|---|
||**Number**|**Number**|
|£60,000-£69,999|**_4_**|6|
|£130,000-£139,999|1|1|



## 



## 

## 

## 

|**Group and charity**|Land and buildings|Land and buildings||||||
|---|---|---|---|---|---|---|---|
|||Long|Leasehold|Commercial|ssets|Equipment|Total|
||Freehold|leasehold|improvements|**vehicles**|under|and musical||
||||||construction|instruments||
||£|£|£|£||£|£|
|**Cost**||||||||
|At 1 April 2020|6,273,074|8,976,990|28,646|259,240|6,359,029|1,859,795|23,756,774|
|Additions|||43,769|-|6,081,821|127,091|6,252,681|
|At 31 March2021|6,273,074|8,976,990|72,415|259,24012,440,850||1,986,886|30,009,455|
|**Depreciation**||||||||
|At 1 April2020|2,102,423|1,746,162|28,646|145,764|-|1,704,283|5,727,278|
|Charge for year|165,165|199,862|1,824|31,337||77,672|475,860|
|At 31 March 2021|2,267,588|1,946,024|30,470|177,101|-|1,781,955|6,203,138|
|Carryingamount||||||||
|At31 March2021|4,005,486|7,030,966|41,945|82,139 12,440,850||204,931|23,806,317|
|At 31 March 2020|4,170,651|7,230,828||113,476 6,359,029||155,512|18,029,496|





## 

## 

## 

|7 Debtors|||||
|---|---|---|---|---|
|||Group||Charity|
||**`2021`**|**`2020`**|**`2021`**|**`2020`**|
|Amounts falling duewithin oneyear:|£|£|£|£|
|Trade debtors|41,533|84,775|41,533|84,775|
|otherdebtors|572,575|767,957|572,575|767,957|
|Prepayments and accruedincome|1,524,001|2,811,526|1,524,001|2,811,526|
|Corporation taxdebtor||1,206,979||1,206,979|
|Amountsduefromfellowgroup undertakings||||2,965,799|
||2,138,109|4,871,237|2,138,109|7,837,036|
|||Group||**Charity**|
||**`2021`**|2020|`2021`|2020|
|Amounts due aftermore than oneyear:|£|£|£|£|
|Prepayments and accruedincome|16,582|123,414|16,582|123414|
||16,582|123,414|16,582|123,414|





## 

## 

|**18**|**Creditors**|||||
|---|---|---|---|---|---|
||**Creditors: amounts falling due within one year**||**Group**||**Charity**|
|||**`2021`**|**`2020`**|**`2021`**|**`2020`**|
|||£|£|£|£|
||Bank loans andoverdrafts|1,285,995|115,138|1,285,995|115,138|
||Obligations under finance leases|20,577|16,977|20,577|16,977|
||Trade creditors|765,973|221,823|765,973|221,823|
||Social security and other taxes|151,080|213,980|151,080|213,980|
||Accrualsand deferred income|1,038,022|1,140,937|1,034,322|1,140,937|
||Other creditors|99,199|195,269|99,199|195,269|
||Amountsowed togroupundertakings|||26,465|2,992,379|
|||3,360,846|**1,904,124**|3,383,611|**4,896,503**|



||**Group**|**Charity**|
|---|---|---|
||£|£|
|At 1 April 2020|317,276|317,276|
|Amount released lo _the_ StatementofFinancialActivities|(297,480)|(297,480)|
|Amount deferred in theyear|157,709|157,709|
|At31 March2021|177,505|177,505|



|||**Group**||Charity|
|---|---|---|---|---|
||**`2021`**|**`2020`**|**`2021`**|**`2020`**|
||£|£|£|£|
|Bank loans andoverdrafts||1,280,055||1,280,055|
|Obligations under financeleases|58,902|71,091|58,902|71,091|
||58,902|1,351,146|58,902|1,351,146|





## 

## 

## 

|**21**|**Analysis of debt**|||
|---|---|---|---|
||Analysis ofbank loan repayments:|**2021**|**2020**|
|||£|£|
||Due within one year|1,285,995|115,138|
||Due between _one_ year _and two_ years||1,280,055|
||At31 March2021|1,285,995|1,395.193|



## 

|||Movementin funds|Movementin funds|||
|---|---|---|---|---|---|
||Balanceat1|Incoming|Resources|Transfers|Balanceat31|
||April2020|resources|expended||March 2021|
||£|£|£|£|£|
|Music Works|13,026,965|898,018|||13,924,983|
|Community Partnership projects|76,296|1,000|(18,996)||58,300|
|Leverhulme Trust supported activity|192,964||(3,343)||189,621|
|In Harmony education programme|161,167|176,616|(144,825)||192,958|
|Other education projects|**100,000**|60,550|(160,550)|||
|Parsifal Circle|47,025|18,815|||65,840|
|HowardAssemblyRoom /Projects||37,460|(37,460)|||
|Kirklees activities||209|||209|
|Taient development|870||||870|
|Other restricted funds|246|517|(517)||246|
|_Total_ restricted funds|13,605,533|1,193,185|(365,691)||14,433,027|





## 

## 

## 

|Restricted funds (continued)||||||
|---|---|---|---|---|---|
||||Movementin funds|||
||Balance at|Incoming|Resources expended|Transfers|Balance at31|
||1 April 2019|resources|||March 2020|
||£|£|£|£|£|
|MusicWorks|13,155,952|663,676|(792,663)||13,026,965|
|Community Partnership projects|113,384|4,000|(41,088)||76,296|
|Leverhulme Trust supported activity|13,026|227,698|(47.760)||192,964|
|In Harmony education programme|217,900|178,305|(235,038)||161,167|
|Othereducation projects|210,000|238,000|(548,000)|200,000|100,000|
|Street Scene|38,000||(38,000)|||
|New productions|200,000|||(200,000)||
|Parsifal Circle||47,025|||47,025|
|Dementia-friendly activity||26,225|(26,225)|||
|Howard Assembly Room /Projects||100,000|(100,000)|||
|Kirklees activities||23,500|(23,500)|||
|Talent_development_||5,000|(4,130)||870|
|Other restricted funds|2,246||(2,000)||246|
||13,950,508|1,513,429|(1,858,404)||13,605,533|





## 

|23|Unrestricted funds|||||||||
|---|---|---|---|---|---|---|---|---|---|
||Group|||||||||
||||||Wiovementinfunds|||||
|||Balance at1|Incoming||Resources|Transfers|Theatre and||Balance at|
|||**April**2020|resources||expended||Orchestraltax||317larch|
||||||||**credit**||**2021**|
|||£||£|£|£|£||£|
||Designated funds|516,600|||(371,208)|2,583,400|||2,728,792|
||General unrestricted|||||||||
||funds|10,325,863|16,686,298||(10,701,001)|(2,583,400)||-|13,727,760|
||Total unrestrictedfunds|10,842,463|16,686,298||(11,072,209)||-||16,456,552|
||||||**Movement**infunds|||||
|||Balance **at 1**|Incoming||Resources|Transfers|**Theatre and**||Balanceat|
|||**April** 2019|resources||expended|Orchestraltax|||31 March|
||||||||credit||2020|
|||£|£||£|£|£||£|
||Designatedfunds|610,000||||(93,400)|||516,600|
||General unrestricted|||||||||
||funds|10,564,066|15,023,666|(16,562,248)||93,400|1,206,979||10,325,863|
||Total unrestrictedfunds|11,174,066|15,023,666|(16,562,248)|||1,206,979||10,842,463|





## 

## 

||||||Movementin funds|Movementin funds|||
|---|---|---|---|---|---|---|---|---|
||Balance at|1|Incoming||Resources|Transfers|Theatre and|Balance at|
||April 2020||resources||expended||Orchestral tax|31 March|
||||||||credit|2021|
|||£||£|£|£|£|£|
|Designated funds|516,600||||(371,208)|2,583,400|-|2,728,792|
|General unrestricted|||||||||
|funds|10,298,445||16,686,298||(10,697,187)|(2,583,400)|-|13,704,156|
|Totalunrestrictedfunds|10,815,045||16,686,298||(11,068,395)||-|16,432,948|
||||||lovementin funds||||
||Balance at1||Incoming||Resources|Transfers|Theatre and|Balance at|
||April**2019**||resources||expended|Orchestraltax||31 March|
||||||||credit|**2020**|
||£||£||£|£|£|£|
|Designatedfunds|610,000|||||(93,400)||516,600|
|General unrestricted|||||||||
|funds|10,533,110||15,023,666||(16,558,710)|93,400|1,206,979|10,298,445|
|Total unrestrictedfunds|11,143,110||15,023,666|(16,558,710)-|||1,206,979|10,815,045|





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|Group and Charity|||||||
|---|---|---|---|---|---|---|
||||Movementinfunds||||
||Balance at1|Incoming|Resources|Transfers|Theatreand|Balanceat31|
||April2020|resources|expended||Orchestral|March 2021|
||||||tax credit||
|Fuluresustainability|516,600|||(516,600)|||
|**New** business plan||||1,000,000||1,000.,000|
|investment|||||||
|Musicworks|||(371,208)|2,100,000||1,728,792|
|Total designated funds|516,600||{371,208)|2,583,400||2,728,792|



||||Movementin|funds|||
|---|---|---|---|---|---|---|
||Balanceat 1|Incoming|Resources|Transfers|Theatre and|Batanee at31|
||April 2019|resources|expended||Orchestral|March 2020|
||||||taxcredit||
|Future sustainability|610,000|||(93,400)||516,600|
|Totaldesignatedfunds|610,000|||(93,400)||516,600|



|||**Miovement**||
|---|---|---|---|
||**2020**|inyear|**2021**|
||£|£|£|
|Operating reserve|934,971|3,640,100|4,575,071|
|Designatedfunds|516,600|2,212,192|2,726,792|
|Fixed asset depreciation reserve|9,390,892|{238,203}|9,152,689|
|Total|10,842,463|5,614,089|16,456,552|





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|24|Analysis ofnetassets between funds|||||
|---|---|---|---|---|---|
||Group|||||
|||**Unrestricted**|**Restricted**||**Total**|
|||**funds**|**funds**|||
|||£||£|£|
||Fund balances at 31 March 2021 are represented by:|||||
||Tangiblefixed assets|11,365,467|12,440,850||23,806,317|
||Cashat bank andOther netcurrent (liabilities)/assels|5,149,987|1,992,177||7,142,164|
||Longterm liabilities|(58,902)|||(58,902)|
|||16,456,552|14,433,027||30,889,579|
|||**Unrestricted**|**Restricted**||**Total**|
|||funds|**funds**|||
|||£|£||£|
||Fund balances at 31 March2020arerepresented by:|||||
||Tangiblefixed assets|11,670,467|6,359,029||18,029,496|
||Cashat bank andOther netcurrent (liab!lìties)/assets|523,142|7,246,504||7,769,646|
||Longterm liabilities|**(1,351,146)**|||(1,351,146)|
|||10,842,463|13,605,533||24,447,996|



|Analysis ofnetassets between funds||||
|---|---|---|---|
|**Charity**||||
||**Unrestricted**|**Restricted**|**Total**|
||funds|**funds**||
||£|£|£|
|Fund balancesat 31 March2021 arerepresented by:||||
|Tangiblefixed assets|11,365,468|12,440,850|23,806,318|
|CashatbankandOthernetcurrent (liabilities) /assets|5,126,382|1,992,177|7,118,559|
|Longterm liabilities|{58,902}||(58,902)|
||16,432,948|14,433,027|30,865,975|
||**Unrestricted**|**Restricted**|**Total**|
||**funds**|**funds**||
||£|£|£|
|Fundbalancesat31 March2020are represented by:||||
|Tangiblefixedassets|11,670,468|6,359,029|18,029,497|
|CashatbankandOther net current (liabilities) _I_assets|495,723|7,246,504|7,742,227|
|Long term liabilities|(1,351,146)||(1,351,146)|
||10,815,045|13,605,533|24,420,578|





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## 

|**25**|**Cash generated from operations**|**2021**|**2020**|
|---|---|---|---|
|||£|£|
||Surplus_I_(Deficit) for _the year_|6,441,583|(676,578)|
||Adjustments for.|||
||Net investment income||(28,992)|
||Depreciation oftangible fixed assets|475,860|476,900|
||Impairmentofcurrentasset investments|25,000||
||Movements in working capital.|||
||Decrease/{increase) in debtors|1,632,981|7,895,622|
||lncrease/(decrease) in creditors|282,265|578,538|
||Cash generated from operations|8,857,689|8,245,490|



||Balance at 1 April|Cash flows|Other non-cash|Balance at31|
|---|---|---|---|---|
||2020||changes|March 2021|
||£|£|£|£|
|Cash and cash equivalents|||||
|Cash|4,604,119|3,694,200||8,298,319|
||4,604,119|3,694,200||8,298,319|
|Borrowings|||||
|Debtduewithin one year|(115,138)|115,138|(1,285,995)|(1,285,995)|
|Debt due afterone year|(1,280,055)||1,280,055||
||(1,395,193)|115,138|{5,940)|(1,285,995)|
|Total|3,208,926|3,809,338|(5,940)|7,012,324|



||2021|2020|
|---|---|---|
||£|£|
|Within one year|75,957|104,599|
|Between one and five years|12,546|40,627|
||88,503|145,226|





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