# **`REGISTERED COMPANY NUMBER: 01856580 (England and Wales) REGISTERED CHARITY NUMBER: 515903`** ## **`THEATR NA N'OG`** ## **`REPORT OF THE TRUSTEES AND`** ## **`FINANCIAL STATEMENTS`** ``` FOR THE YEAR ENDED 31 MARCH 2022 ``` ``` Carr, Jenkins & Hood Oystermouth House Charter Court, Phoenix Way Swansea Enterprise Park Swansea SA7 9FS ``` ``` CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 ``` ## **`THEATR NA N'OG`** **----- Start of picture text -----**
Page
Report of the trustees 1 to 6
Independent examiner's report 7
Statement of financial activities 8
Balance sheet 9 to 10
Cash flow statement 11
Notes to the cash flow statement 12
Notes to the financial statements 13 to 25
**----- End of picture text -----**
``` THEATR NA N'OG (REGISTERED NUMBER: 01856580) ``` ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022`** ``` ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheir report withthefinancialstatementsofthecharityfortheyearended31March2022.Thetrusteeshaveadopted the provisionsofAccountingandReportingbyCharities:StatementofRecommendedPracticeapplicableto charities preparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublic of Ireland (FRS 102) (effective 1 January 2019). ``` ``` The report of the trustees also incorporates a directors' report as required by company law. ``` ## **`Objectives and activities`** ``` The objectsof the charityare to producetheatreproductionsfor youngpeople.The charitywill also tour productions regionally, nationally and internationally to broaden its audience base. ``` ``` Thetrusteesofthecharityarecommittedtoprovidingapublicbenefit,andhavetakenintoaccountthe Charity Commission's guidance in this area. ``` ``` Thecharitybelievesthatchildrenandyoungpeopledeservetoexperiencetheatreof thesamehighartistic standard and aestheticvalue as theatreaimed at adults,by creatinghigh qualitytheatrethat is powerful,inspiringand relevant to all ages, bringing to life authentic stories of ordinary people who achieve extraordinary things. ``` ``` Forthemanymembersofouraudienceswhocomefromdeprivedcommunities,TheatrnanÓg'sethoshas always beentoinspireandencourageambitionandaspiration,tobelieveinoneselfanddaretodream.Thisiswhat makes our work so effective at igniting young imaginations and appealing to people from all backgrounds. ``` ``` Throughourexpertiseinworkingwithbothschoolsandtheatrevenues,we havedevelopeda unique understanding of how to bridge the gap between the generations, in order to achieve a truly shared experience. ``` ``` Duringthe previousyear the charitysaw a changeof remit from the Arts Councilof Wales,whichmeantthatits main objectivescontinuedto be the promotionof theatre for young people in our three authoritiesbut with an intention to tour productionsto a variety of age groupsand beyondour traditionalarea. Four key areas were identifiedfor specific attention: ``` - `to raise the charity's profile locally and nationally;` - `to increase production and performance weeks;` - `to promote our touring productions in Wales and the UK; and` - `to allocate a percentage of funds for research and development on future productions.` ``` 1 ``` ``` THEATR NA N'OG (REGISTERED NUMBER: 01856580) ``` ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022`** ## **`Achievement and performance`** ## **`Charitable activities`** ``` ItcannotbeunderestimatedtheeffecttheCOVID-19pandemichashadontheorganisation,asitsaw restrictions easingtheorganisationpreparedtoreturntoliveproductions.However,duetotheuncertaintyofthevirus the charity has adopted a hybrid working policy. ``` ``` The priorities have remained the same as the organisation adapts to a new way of working. ``` - **`Support teachers & young people`** `by creating projects and content that could be delivered online whilst young people were at home` - **`Support the network of freelance professionals.`** `Theatr na nÓg aims to support freelance artists and venues in Wales, as they navigate their way through th ese uncertain times, by creating projects that would support them financially and creatively.` - **`Support the venues in Wales`** `by creating content for them to deliver online to maintain their audiences.` ## **`We Need Bees/ Gwarchod y Gwenyn Podcast & Test Event`** ``` Theorganisationadaptedtheir2011stageplayforyoungaudiencesandfamiliestoapodcastforschoolsin Spring 2021.Schoolsparticipatedbylisteningtotheseriesandthentakingpartin5dailychallengesdevisedby Dawn Thomas, an environment educationalist working with schools. ``` ``` ThecompanyalsotookpartinatesteventforWelshGovernment.Thiswastogaugethebehaviourofaudiences at live theatre events as the country eased out of lockdown. ``` ## **`Y Naid/ Just Jump`** ``` Onceagaintheorganisationpresentedtheirawardwinningproductiontoschools.Thistimethecompany adapted theirstage play intoa shortfilm. It was a continuationof the partnershipwith CardiffHarbourAuthorityand Arts and BusinessCymru.Thecompanyalsoorganisedworkshopswithschoolstodiscussthethemesofthestorywith young people. ``` ## **`Erasmus+ - Unpacking Feelings`** ``` Theatrna nÓg were successfulin applyingto collaboratewithtwo WelshMediumschoolsin Swanseaandpartners in Malta,CyprusandSpainonatwoyearproject.Theaimoftheprojectistocreateresourcesthatusearange of creativeartsmediatoengagepupilstoexpresstheirfeelingsintheirsecondlanguageaspartoftheirrecovery from the negative impact of COVID-19. ``` ## **`Shirley Valentine`** ``` AsthefirstcollaborationwiththeConsortiwmCymraegtheorganisationproducedtheWelshlanguageversion of WillyRussell'ssuccessfulcomedyShirleyValentine,transportingherfromLiverpoolinthe80'stoMerthyr Tydfil duringthe90's.TheproductiontouredvenuesthroughoutWalesintheSpringof2022.Itsawatotalaudience of 2,300 and increased its forecasted income by 50% with sell-out performances in many of the Welsh venues. ``` ## **`The Arandora Star`** ``` Thecompany'sannualschoolproductionattheDylanThomasTheatreinSwanseawaspresentedintheSpring. This allowedforschoolstohavetheconfidenceandcertaintyinvisitingthetheatreandthemuseumsinvolvedin the project. ``` ``` 2 ``` ``` THEATR NA N'OG (REGISTERED NUMBER: 01856580) ``` ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022`** ## **`Other`** ``` The organisation performed to 7,500 in this financial year. ``` ``` Theorganisationhashadasuccessfulyearinitsfundraisingactivities.Grantswereawardedof£37,871 (2021; £53,000) together with donations totalling £957 (2021; £7,689) received from the public. ``` ## **`Financial review`** ## **`Financial position`** ``` Thecharitycontinuestoreviewitsincomebaseandcostbase,withaviewtoconservingresources.During this financial period, resources have increased in line with budgetary forecasts. Reserves remain at a satisfactory level. ``` ``` Totalincomingresourcesfortheyearamountedto£505,083(2021;£444,450).Resourcesexpendedamount to £498,321 (2021; £444,523). The net surplus for the year is £6,762 (2021; deficit of £73). ``` ``` The net reserves at the balance sheet date are £473,597 (2021; £466,908) of general funds. ``` ## **`Principal funding sources`** ``` The charity has maintained its annual revenue funding from the Arts Council of Wales. ``` ## **`Reserves policy`** ``` Thetrusteesarepleasedtoreportthatthegeneralreservesremainpositiveattheendofthisfinancialyearand the charitywillbecontinuingthisplatforminthenextfinancialyeartomaintainthestrengthofitsreserves.The charity hassetminimumlevelsofreservesthatitwishestomaintaininordertosee outitsshorttermcommitments. These have been set at £125,000whichshouldensurethe charitycontinuesfor twelve monthsin the event of the loss of all incoming resources. ``` ## **`Investment policy`** ``` Thetrusteesconsiderthemostappropriatepolicyforinvestingsurplusfundsisinshorttermdepositaccounts to maintain cashflow liquidity. ``` ``` 3 ``` ## **`THEATR NA N'OG (REGISTERED NUMBER: 01856580)`** ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022`** ## **`Future plans`** ## **`Erasmus+ - Unpacking Feelings`** ``` TheorganisationwillcontinueitsinternationalcollaborationbetweentwoWelshMediumschoolsinSwansea and partnersinMalta,CyprusandSpain.Theaimoftheprojectistocreateresourcesthatusearangeofcreative arts mediatoengagepupilstoexpresstheirfeelingsintheirsecondlanguageaspartoftheirrecoveryfromthe negative impact of COVID-19. ``` ## **`Operation Julie`** ``` A co-productionwithAberystwythArts Centre,whichtells the storyof the famouspoliceoperationthattookplace in WestWalesin1975-1977whichmanagedtoundercover,atthetime,theworld'slargestLSDmanufacturer. This original play with a 70's prog-rock soundtrack will tell the incredible story of Operation Julie. ``` ``` The production will be performed at Aberystwyth Arts Centre, Theatr Brycheiniog and The Lyric, Carmarthen. ``` ## **`The Trial of Elgan Jones`** ``` Thecompany'sannualschoolproductionattheDylanThomasTheatreinSwanseawillbepresentedinits usual season,theAutumn.The projectwillhaveanadditionalweek at BreconMuseumas partof a pilotprojectto expand the organisation's audiences and its partners with Theatr Brycheiniog and Brecon Museum. ``` ## **`Wallace 200`** ``` Aspartofthecharity'spartnershipwiththeBritishCouncil,thecompanywillpresentaperformanceofWallace as part of the 200th birthday anniversary in collaboration with Indonesian artists. ``` ## **`Structure, governance and management Governing document`** ``` Thecharityiscontrolledbyitsgoverningdocument,adeedoftrust,andconstitutesalimitedcompany,limited by guarantee, as defined by the Companies Act 2006. ``` ## **`Charity constitution`** ``` Theatrna nÓg is a companylimitedby guaranteeanda registeredcharity.It was establishedin 1984to promote and advanceartisticeducationandthepublicappreciationofthearts.Theseobjectsaresetoutinits governing instrument which is its Memorandum and Articles of Association. ``` ## **`Recruitment and appointment of new trustees`** ``` UnderthetermsoftheArticlesofAssociation,thereisnomaximumtothenumberofboardmembersbut there shouldbeaminimumoffour.Allmemberswillserveaninitialtermofthreeyears.Atanannualgeneral meeting retiring members can be re-elected for a second term of three years. ``` ## **`Organisational structure`** ``` Thegoverningbodyistheboardoftrusteeswhosemembersarenon-executiveandunpaid.Theboard meets bi-monthlyandcoversareassuchasartisticdevelopment,diversity,membershipandfinance.Anartisticdirector is appointedbythetrusteestomanagethedaytodayoperationsofthecharity.Tofacilitateeffectiveoperations, the artisticdirectorhas delegatedauthority,withinterms of delegationapprovedby the trustees,for operational matters including finance, employment and artistic performance related activity. ``` ``` 4 ``` ## **`THEATR NA N'OG (REGISTERED NUMBER: 01856580)`** ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022`** ## **`Structure, governance and management`** ## **`Induction and training of new trustees`** ``` All trusteeswere offeredand attendedan inductionand orientationday to brief them on their legal obligations under charityandcompanylaw,thecontentoftheMemorandumandArticlesofAssociation,thecommitteeand decision makingprocesses,the businessplanand recent financialperformanceof the charity.Trusteeswill also be encouraged to attend appropriate external training events where these will facilitate the undertaking of their role. ``` ## **`Related parties`** ``` ThecharityhaskeyrelationshipswiththeArtsCouncilofWalesandagreesspecificannualtargetsandobjectives. In previous years the company has been funded by the local authorities but this funding ceased 2014. ``` ## **`Partnerships`** ``` TheatrnanÓgcontinuestocollaboratewithawiderangeofpartnersandfosterspositiveand meaningful relationshipsforthefuture.Thispromotesandpresentsanexcitingcollectionofproductionscateringfor the surrounding community and beyond. ``` ``` This year the company has developed close working relationships with: ``` ``` Swansea Grand Theatre, The Welfare Ystradgynlais,Awen Trust, AneurinLeisure Trust, AberystwythArts Centre, Dylan ThomasTheatre,TheatrSoar,SwanseaMuseum,NationalWaterfrontMuseumandtheNationalMuseum Wales, Swansea University and Technocamps. ``` ``` TheatrnanÓghasanexcellentrelationshipwithlocalschools.Itsambitionistodeveloprelationshipswith schools nationwide to replicate the very successful model in Swansea, Neath Port Talbot and Bridgend. ``` ## **`Risk management`** ``` Thetrusteeshaveadutytoidentifyandreviewtheriskstowhichthecharityisexposedandtoensure appropriate controlsare in placeto providereasonableassuranceagainstfraudanderror.The trusteesriskmanagement strategy comprises: ``` - `an annual review of the risks the charity may face;` ``` · the establishment of systems and procedures to mitigate those risks identified in the plan; and ``` ``` · the implementation of procedures designed to minimise any potential impact on the charity should those risks materialise. ``` ``` Thisworkhasidentifiednewrisksandhasresultedinbetteremergencyproceduresandcontingencyplansand has giventheimpetusforbetterplanning.Akeyelementinthemanagementoffinancialriskisthesettingofa reserves policy and its regular review by trustees. ``` ## **`Reference and administrative details`** ``` Registered Company number 01856580 (England and Wales) ``` ## **`Registered Charity number`** ``` 515903 ``` ``` 5 ``` THEATR NA N'OG (REGISTERED NUMBER: 01856580) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 Reglstered office Unit 3 Milland Road Industrial Estate Neath SAII INJ Trustees G J Cripps E Heyes Ireslgned 6n/20211 A C Jones L J Swlndell D C Webster J R Williams C P Fitzgerald K Lewis K E Fisher (appointed 6ni20211 Company Secretary G H styles Indèpendent ExamSner Stuart Harries FCA ACCA Independent Examiner Carr. Jenkins & Hood Oys'ierr.- .'th House Charter Court, Phoenix Way Swansea Enterprise Park Swansea SA7 9FS Bankers HS8C Bank plc 3 Windsor Road Neath SAII ILN This report has been prepared in accordance with the special provisions of Part IS of the Companies Act 2(M)6 relatin8 to small companies. Approved by order of the board of trustee5 0n......-. ... . and signed on its behow by: LJ Swindell- Trustee INDEPENDENT EXAMINER'S REPORTTOTHE TRUSTEES OF THEATR NA N'OG Independent examlner's report to ihe trustees of Theatr Na N'og I'the Company'} I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022. Responsibilities and bas15 of report As the charity's trustees of the Company land also its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Art 2CM)61'the 2￿6 Act'l. Having sat15fied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eliglble for independent examination, I report in respect of my examination of your Charity's accounts as carried out under section 145 of the Charities Art 2011 I'the 2011 Art'l. In carrying out my examination I have followed the Directions given by the Charity Commission under sertion 145151 Ibl of the 2011 Art. Independent examinerfs Statement Since the company's 8ross income exceeded £250.CbXY your examlner must be a member of a body listed in section 145 of the 2011 Art. I can confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales. which Is one of the I￿e￿ bodies. I have completed my examinatlon. I confimi that no matters have come to my attention in connertion with the examination glvlng me cause to believe that in any material respect:_ accounting records were not kept in respect of the Company as required by 5ertion 386 of the 2006 Art,. or the accounts do not accord with those records: or the accounts do not comply with the accounting requirements of sertion 396 of the 2Th16 Art otherthan any requirement that the accounts give a true and fair wew which is not 3 rnatter Cgnsidered 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 Prartice for accounting and reporting by charTties (applicable to charities preparing thelr accourhts in accordance with the Financial Reporting Standard applitable In the UK and Republic of Ireland IFRS 10211. I have no concerns and have corne 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. Stuart Harries FCA ACCA Independent Examiner Carr, jenkins & Hood Oystermouth House Charter Court, Phoenix Way Swansea Enterprise Park Swansea SA7 9FS Date=...... ## **`THEATR NA N'OG`** ## **`STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2022`** |`Unrestricted`
`Restricted`
`fund`
`fund`
`Notes`
`£`
`£`
**`Income and endowments from`**
`Donations and legacies`
`3`
**`320,526`**
**`-`**
**`Charitable activities`**
`Productions and touring`
**`84,476`**
**`35,371`**
`Investment income`
`4`
**`10,427`**
**`-`**
`Other income`
`6`
**`1,000`**
**`2,500`**
**`Total`**
**`416,429`**
**`37,871`**
**`Expenditure on`**
`Raising funds`
`7`
**`48,371`**
**`-`**
**`Charitable activities`**
`8`
`Productions and touring`
**`412,079`**
**`37,871`**
`Taxation`
`11`
**`(50,783)`**
**`-`**
**`Total`**
**`409,667`**
**`37,871`**
**`NET INCOME/(EXPENDITURE)`**
**`6,762`**
**`-`**
**`Reconciliation of funds`**
**`Total funds brought forward`**
**`466,835`**
**`-`**
**`Total funds carried forward`**
**`473,597`**
**`-`**|**`2022`**
**`Total`**
**`funds`**
**`£`**
**`320,526`**
**`119,847`**
**`10,427`**
**`3,500`**
**`454,300`**
**`48,371`**
**`449,950`**
**`(50,783)`**
**`447,538`**
**`6,762`**
**`466,835`**
**`473,597`**|`2021`
`Total`
`funds`
`£`
`327,258`
`58,372`
`10,564`
`25,900`
`422,094`
`26,882`
`417,641`
`(22,356)`
`422,167`
`(73)`
`466,908`
`466,835`| |---|---|---| ``` The notes form part of these financial statements ``` ``` 8 ``` ## **`THEATR NA N'OG (REGISTERED NUMBER: 01856580)`** ## **`BALANCE SHEET 31 MARCH 2022`** |`Unrestricted`
`Restricted`
`fund`
`fund`
`Notes`
`£`
`£`
**`Fixed assets`**
`Tangible assets`
`17`
**`100,938`**
**`-`**
**`Current assets`**
`Debtors`
`18`
**`101,818`**
**`-`**
`Cash at bank and in hand`
**`347,098`**
**`-`**
**`448,916`**
**`-`**
**`Creditors`**
`Amounts falling due within one year`
`19`
**`(76,257)`**
**`-`**
**`Net current assets`**
**`372,659`**
**`-`**
**`Total assets less current liabilities`**
**`473,597`**
**`-`**
**`NET ASSETS`**
**`473,597`**
**`-`**
**`Funds`**
`21`
`Unrestricted funds`
**`Total funds`**|**`2022`**
**`Total`**
**`funds`**
**`£`**
**`100,938`**
**`101,818`**
**`347,098`**
**`448,916`**
**`(76,257)`**
**`372,659`**
**`473,597`**
**`473,597`**
**`473,597`**
**`473,597`**|`2021`
`Total`
`funds`
`£`
`104,875`
`26,683`
`360,630`
`387,313`
`(25,353)`
`361,960`
`466,835`
`466,835`
`466,835`
`466,835`| |---|---|---| ``` The charitablecompanyis entitledto exemptionfrom audit under Section477 of the CompaniesAct 2006 for the year ended 31 March 2022. ``` ``` Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended 31 March 2022 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.` ``` The notes form part of these financial statements ``` ``` continued... ``` ``` 9 ``` THEATR NA N'OG (REGISTERED NUMBER: 018565801 BALANCE SHEET- continued 31 MARCH 2022 These financial ststements have been prèpared in accordancè wlth the provislons applicable to charltable companies 5ubjert to the small companies re8ime. The fin Iz nci statements were approved by the Board of Trustees and authorlsed for Issue 2u2x......... and were slgned on its behalf by: on G J Cripps- TrLbStee The notes form part of these financial statements io ## **`THEATR NA N'OG`** ## **`CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2022`** |`Notes`
**`Cash flows from operating activities`**
`Cash generated from operations`
`1`
`Finance costs paid`
`Net cash (used in)/provided by operating activities`
**`Cash flows from investing activities`**
`Purchase of tangible fixed assets`
`Interest received`
`Net cash (used in)/provided by investing activities`
**`Change in cash and cash equivalents in the`**
**`reporting period`**
**`Cash and cash equivalents at the beginning`**
**`of the reporting period`**
**`Cash and cash equivalents at the end of`**
**`the reporting period`**|**`2022`**
**`£`**
**`(11,955)`**
**`(163)`**
**`(12,118)`**
**`(1,464)`**
**`50`**
**`(1,414)`**
**`(13,532)`**
**`360,630`**
**`347,098`**|`2021`
`£`
`27,490`
`(326)`
`27,164`
`(152)`
`187`
`35`
`27,199`
`333,431`
`360,630`| |---|---|---| ``` The notes form part of these financial statements ``` ``` 11 ``` ## **`THEATR NA N'OG`** ## **`NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2022`** ## **`1. Reconciliation of net income/(expenditure) to net cash flow from operating activities`** |**`Net income/(expenditure) for the reporting period (as per the`**
**`Statement of financial activities)`**
**`Adjustments for:`**
`Depreciation charges`
`Interest received`
`Finance costs`
`(Increase)/decrease in debtors`
`Increase/(decrease) in creditors`
**`Net cash (used in)/provided by operations`**|**`2022`**
**`£`**
**`6,762`**
**`5,401`**
**`(50)`**
**`163`**
**`(75,135)`**
**`50,904`**
**`(11,955)`**|`2021`
`£`
`(73)`
`5,971`
`(187)`
`326`
`30,803`
`(9,350)`| |---|---|---| |||`27,490`| ## `2.` **`Analysis of changes in net funds`** ||`At 1.4.21`|`Cash flow`|**`At 31.3.22`**| |---|---|---|---| ||`£`|`£`|**`£`**| |**`Net cash`**|||| |`Cash at bank and in hand`|**`360,630`**|**`(13,532)`**|**`347,098`**| ||**`360,630`**|**`(13,532)`**|**`347,098`**| |**`Total`**|**`360,630`**|**`(13,532)`**|**`347,098`**| ``` The notes form part of these financial statements ``` ``` 12 ``` ``` THEATR NA N'OG ``` ``` NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 ``` ## **`1. Statutory information`** ``` TheatrNaN'ogisaprivatecompany,limitedbyguaranteewithoutsharecapital,registeredinEngland and Wales. The registered office address can be found in the report of the trustees. ``` ## **`2. Accounting policies`** ## **`Basis of preparing the financial statements`** ``` The financialstatementsof the charitablecompany,whichis a publicbenefitentityunderFRS 102,have been preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities: Statement ofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial ReportingStandardapplicablein the UK and Republicof Ireland(FRS 102) (effective1 January2019)', Financial ReportingStandard102 'The FinancialReportingStandardapplicablein the UK and Republicof Ireland'and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. ``` ``` The charity constitutes a public benefit entity as defined by FRS 102. ``` ## **`Going concern`** ``` The trusteesconsiderthat there are no materialuncertaintiesaboutthe charity'sabilityto continueas a going concern.Thetrusteeshaveassessedwhethertherearesignificantdoubtsaboutthecharity'sability to continueasagoingconcern.Inadifficulttradingenvironmentforcharities,TheatrNaN'oghasalways been reliantonpublicfunding.Thetrusteeswillonlycommittoproductionsiftheyknowthatsuchfunding is available. This policy is underpinned by available reserves. ``` ## **`Income`** ``` All incomeis recognisedin the Statementof FinancialActivitiesoncethe charityhasentitlementto the funds, it is probable that the income will be received and the amount can be measured reliably. ``` ``` Donations and voluntary income are accounted for when receivable. ``` ``` Grantsforimmediateexpenditureareaccountedforwhentheybecomereceivable.Grantsreceived for specificpurposesaretreatedasrestrictedfunds.Grantsreceivedinadvancearedeferredandrecognised in the accounts in future accounting periods. ``` ``` Intereston funds held on depositis includedwhen receivableand the amountcan be measuredreliablyby the charity; this is normally upon notification of the interest paid by the Bank. ``` ## **`Expenditure`** ``` Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredin settlement and the amount of the obligation can be measured reliably. ``` ``` Expenditureisaccountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregate all costrelatedtothecategory.Wherecostscannotbe directlyattributedtoparticularheadingstheyhave been allocated to activities on a basis consistent with the use of resources. ``` ## **`Allocation and apportionment of costs`** ``` Costsareallocatedbetweendirectcharitableandsupportexpenditureaccordingtothenatureofthe cost. Whereitemsinvolvemorethanonecategorytheyareapportionedbetweenthecategoriesona basis consistent with the use of resources. ``` ``` continued... ``` ``` 13 ``` ``` THEATR NA N'OG ``` ``` NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022 ``` ## **`2. Accounting policies - continued`** ## **`Tangible fixed assets`** ``` Tangiblefixedassetsotherthanfreeholdlandarestatedat costless depreciation.Depreciationis provided at rates calculatedto write off the cost less estimatedresidualvalue of each asset over its expectedusefullife, as follows: ``` |`Freehold land is not depreciated`|| |---|---| |`Freehold buildings`|`- 2% on cost`| |`Plant and machinery`|`- 20% on cost`| |`Fixtures, fittings and equipment`|`- 15% on cost`| |`Motor vehicles`|`- 25% on cost`| ## **`Taxation`** ``` As a registeredcharity,TheatrNa N'ogis entitledto exemptionfrom taxationin respectof incomeand capital gainreceivedwithsections478-489oftheCorporationTaxAct2010andsection256oftheTaxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objectives only. ``` ## **`Fund accounting`** ``` Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. ``` ``` Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. ``` ``` Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial statements. ``` ## **`Hire purchase and leasing commitments`** ``` Rentalspaidunderoperatingleases are chargedto the Statementof financialactivitieson a straightline basis over the period of the lease. ``` ## **`Pension costs and other post-retirement benefits`** ``` Thecharityoperatesadefinedcontributionpensionscheme.Theassetsoftheschemeareheld separately fromthoseofthecharityinanindependentlyadministeredfund.Contributionspayablefortheyear are chargedin the Statementof FinancialActivityandrepresentthe contributionspayableby the companyto the fund. ``` ## **`Debtors`** ``` Tradeandotherdebtorsarerecognisedatthesettlementamountdueafteranytradediscount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ``` ## **`Cash at bank and in hand`** ``` Cashat bankandcashin handincludescashandshortterm highlyliquidinvestmentswitha shortmaturity of threemonthsorlessfromthedateofacquisitionoropeningofthedepositorsimilaraccountandthat are subject to an insignificant risk to changes in value. ``` ## **`Creditors and provisions`** ``` Creditorsandprovisionsare recognisedwhere the charityhas a presentobligationresultingfrom a past event thatwillprobablyresultinthetransferoffundstoathirdpartyandtheamountduetosettlethe obligation canbemeasuredorestimatedreliably.Creditorsandprovisionsarenormallyrecognisedattheir settlement amount after allowing for any trade discounts due. ``` ``` continued... ``` ``` 14 ``` ``` THEATR NA N'OG ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022`** ## **`2. Accounting policies - continued`** ## **`Financial instruments`** ``` The charityonlyhas financialassets and financialliabilitiesof a kindthat qualifyas basic financial instruments. Basicfinancialinstrumentsareinitiallyrecognisedattransactionvalueandsubsequentlymeasuredat their settlement value. ``` ## **`3. Donations and legacies`** |**`2022`**
**`£`**
`Donations`
**`957`**
`Grants`
**`319,569`**
**`320,526`**
`Grants received, included in the above, are as follows:`
**`2022`**
**`£`**
`Arts Council of Wales`
**`319,569`**
**`4.`**
**`Investment income`**
**`2022`**
**`£`**
`Rental income`
**`10,377`**
`Interest receivable`
**`50`**
**`10,427`**
**`5.`**
**`Income from charitable activities`**
**`2022`**
`Productions`
`and`
`touring`
**`£`**
`Box office and performance income`
**`83,562`**
`Consultancy and other fees`
**`854`**
`Sundry sales`
**`60`**
`Grants`
**`35,371`**
`Sponsorship`
**`-`**
`Royalties received`
**`-`**
**`119,847`**|`2021`
`£`
`7,689`
`319,569`
`327,258`
`2021`
`£`
`319,569`
`2021`
`£`
`10,377`
`187`
`10,564`
`2021`
`Total`
`activities`
`£`
**`4,712`**
**`100`**
**`8`**
**`53,000`**
**`500`**
**`52`**
**`58,372`**| |---|---| ``` Incomefromcharitableactivitieswas£119,847(2021;£58,372)ofwhich£37,871(2021;£53,000) was attributable to restricted funds and £81,976 (2021; £5,372) was attributable to unrestricted funds. ``` ``` continued... ``` ``` 15 ``` ## **`THEATR NA N'OG`** ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022`** |**`5.`**
**`Income from charitable activities - continued`**
`Grants received, included in the above, are as follows:`
`Arts Council of Wales`
`Oakdale Trust`
`Arts & Business Cymru`
`Colwinston Trust`
`Hodge Foundation`
`The British Council`
`Leche Trust`
`International Links (Global) Ltd`
`Urdd Gobaith Cymru`
`Gwendoline and Margaret Davies Charity`
**`6.`**
**`Other income`**
`Insurance claims`
`Welsh Government COVID Support`
`Arts & Business Cymru Award`
`Millennium Stadium Charitable Trust`
**`7.`**
**`Raising funds`**
**`Raising donations and legacies`**
`Staff costs`
`Publicity and advertising`|**`2022`**
**`£`**
**`5,000`**
**`2,000`**
**`3,750`**
**`10,000`**
**`-`**
**`6,500`**
**`-`**
**`2,457`**
**`664`**
**`5,000`**
**`35,371`**
**`2022`**
**`£`**
**`-`**
**`-`**
**`1,000`**
**`2,500`**
**`3,500`**
**`2022`**
**`£`**
**`35,283`**
**`13,088`**
**`48,371`**|`2021`
`£`
`45,000`
`-`
`1,000`
`-`
`5,000`
`-`
`2,000`
`-`
`-`
`-`| |---|---|---| |||`53,000`| |||`2021`
`£`
`900`
`25,000`
`-`
`-`| |||`25,900`| |||`2021`
`£`
`25,010`
`1,872`| |||`26,882`| ``` continued... ``` ``` 16 ``` ## **`THEATR NA N'OG`** ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022`** ## **`8. Charitable activities costs`** |**`Charitable activities costs`**|||| |---|---|---|---| ||`Direct`|`Support`|| ||`Costs (see`|`costs (see`|| ||`note 9)`|`note 10)`|`Totals`| ||`£`|`£`|`£`| |`Productions and touring`|**`269,653`**|**`180,297`**|**`449,950`**| ``` £37,871 (2021; £53,000)of the above costs were attributableto restrictedfunds, £412,079(2021; £364,641) of the above costs were attributable to unrestricted funds. ``` ## **`9. Direct costs of charitable activities`** |**`Direct costs of charitable activities`**||| |---|---|---| |`Staff costs`
`Production costs`
`Motor running expenses`
`Subsistence and touring expenses`
`App development and hosting`|**`2022`**
**`£`**
**`29,375`**
**`235,311`**
**`2,368`**
**`376`**
**`2,223`**
**`269,653`**|`2021`
`£`
`49,579`
`248,111`
`2,532`
`33`
`2,364`| |||`302,619`| ## **`10. Support costs`** |`Production`
`Governance`
`Management`
`costs`
`£`
`£`
`Productions and touring`
**`83,032`**
**`97,265`**
`Support costs, included in the above, are as follows:`|`Totals`
`£`
**`180,297`**| |---|---| ||| ## **`Production management`** |**`Production management`**||| |---|---|---| ||**`2022`**|`2021`| ||`Productions`|| ||`and`|`Total`| ||`touring`|`activities`| ||**`£`**|`£`| |`Wages`|**`52,810`**|**`50,135`**| |`Social security`|**`1,457`**|**`2,273`**| |`Pensions`|**`1,272`**|**`1,952`**| |`Other operating leases`|**`181`**|**`242`**| |`Water rates`|**`57`**|**`50`**| |`Insurance`|**`2,808`**|**`2,567`**| |`Light and heat`|**`901`**|**`393`**| |`Telephone`|**`750`**|**`721`**| |`Postage and stationery`|**`969`**|**`523`**| |`Repairs and renewals`|**`15,818`**|**`2,333`**| |`Cleaning`|**`1,931`**|**`887`**| |`Carried forward`|**`78,954`**|**`62,076`**| ``` continued... ``` ``` 17 ``` ## **`THEATR NA N'OG`** ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022`** ## **`10. Support costs - continued`** ## **`Production management - continued`** ||**`2022`**|`2021`| |---|---|---| ||`Productions`|| ||`and`|`Total`| ||`touring`|`activities`| ||**`£`**|`£`| |`Brought forward`|**`78,954`**|**`62,076`**| |`Affiliation fees`|**`2,078`**|**`1,792`**| |`Depreciation of tangible and heritage assets`|**`2,000`**|**`2,171`**| ||**`83,032`**|**`66,039`**| |**`Governance costs`**||| ||**`2022`**|`2021`| ||`Productions`|| ||`and`|`Total`| ||`touring`|`activities`| ||**`£`**|`£`| |`Wages`|**`28,773`**|**`11,815`**| |`Social security`|**`1,810`**|**`770`**| |`Pensions`|**`1,364`**|**`591`**| |`Independent examiners remuneration`|**`4,990`**|**`4,750`**| |`Independent examiners remuneration for`||| |`other work`|**`6,310`**|**`7,450`**| |`Other operating leases`|**`423`**|**`564`**| |`Water rates`|**`85`**|**`76`**| |`Insurance`|**`6,553`**|**`5,991`**| |`Light and heat`|**`1,351`**|**`588`**| |`Telephone`|**`1,749`**|**`1,683`**| |`Postage and stationery`|**`2,262`**|**`1,220`**| |`Sundry expenses`|**`3,389`**|**`1,951`**| |`Repairs and renewals`|**`23,726`**|**`3,499`**| |`Cleaning`|**`2,897`**|**`1,331`**| |`Staff training`|**`2,896`**|**`1,888`**| |`Legal and professional fees`|**`5,123`**|**`690`**| |`Depreciation of tangible fixed assets`|**`3,401`**|**`3,800`**| |`Bank charges`|**`161`**|**`326`**| |`Interest on late PAYE`|**`2`**|**`-`**| ||**`97,265`**|**`48,983`**| ``` continued... ``` ``` 18 ``` ``` THEATR NA N'OG ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022`** ## **`11. Taxation`** |**`Taxation`**||| |---|---|---| |`Theatre tax relief`
`Children's tv programming tax credit`|**`2022`**
**`£`**
**`(43,226)`**
**`(7,557)`**
**`(50,783)`**|`2021`
`£`
`(22,356)`
`-`| |||`(22,356)`| ``` TheatrNa N'og,as a registeredcharity,is entitledto exemptionfrom taxationin respectof incomeand capital gainsreceivedwithinsections478-489oftheCorporationTaxAct2010andsection256oftheTaxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objectives only. ``` ``` The charity does however qualify for Theatre Tax Relief in respect of certain expenditure it incurs on its theatrical productions, resulting in the tax credits included in the accounts as above. ``` ``` ThecharitywasalsoeligibletoclaimtheChildren'sTVProgrammingTaxReliefinrespectof certain expenditureit incurredon programmesproducedin the year ended 31 March 2021. Provisionof this credit has been made in the year ended 31 March 2022. ``` ## **`12. Net income/(expenditure)`** ``` Net income/(expenditure) is stated after charging/(crediting): ``` ||**`2022`**|`2021`| |---|---|---| ||**`£`**|`£`| |`Examination of the financial statements`|**`4,990`**|`4,750`| |`Other services`|**`6,310`**|`7,450`| |`Depreciation - owned assets`|**`5,401`**|`5,971`| |`Other operating leases`|**`604`**|`806`| ## **`13. Trustees' remuneration and benefits`** ``` Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2022norforthe year ended 31 March 2021. ``` ## **`Trustees' expenses`** ``` Therewerenotrustees'expensespaidfortheyearended31March2022norfortheyear ended 31 March 2021. ``` ``` continued... ``` ``` 19 ``` ``` THEATR NA N'OG ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022`** ## **`14. Staff costs`** ``` The average monthly number of employees during the year was as follows: ``` |`Productions and touring`
`Marketing and publicity`
`Administration and management`|**`2022`**
**`1`**
**`-`**
**`2`**
**`3`**|`2021`
`2`
`1`
`2`| |---|---|---| |||`5`| ``` No employees received emoluments in excess of £60,000. ``` ``` The total employee benefits of the key management personnel of the charity were £41,453 (2021; £40,702). ``` ## **`15. Comparatives for the statement of financial activities`** |`Unrestricted`
`Restricted`
`fund`
`fund`
`£`
`£`
**`Income and endowments from`**
`Donations and legacies`
`327,258`
`-`
**`Charitable activities`**
`Productions and touring`
`5,372`
`53,000`
`Investment income`
`10,564`
`-`
`Other income`
`25,900`
`-`
**`Total`**
`369,094`
`53,000`
**`Expenditure on`**
`Raising funds`
`26,882`
`-`
**`Charitable activities`**
`Productions and touring`
`364,641`
`53,000`
`Taxation`
`(22,356)`
`-`
**`Total`**
`369,167`
`53,000`
**`NET INCOME/(EXPENDITURE)`**
`(73)`
`-`
**`Reconciliation of funds`**
**`Total funds brought forward`**
`466,908`
`-`
**`Total funds carried forward`**
`466,835`
`-`|`Total`
`funds`
`£`
`327,258`
`58,372`
`10,564`
`25,900`
`422,094`
`26,882`
`417,641`
`(22,356)`
`422,167`
`(73)`
`466,908`
`466,835`| |---|---| ``` continued... ``` ``` 20 ``` ## **`THEATR NA N'OG`** ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022`** ## **`16. Independent examiners remuneration`** ||`2022`|`2021`| |---|---|---| ||`£`|`£`| |`Examination of the financial statements`|`4,990`|`4,750`| |`Other services`|`6,310`|`7,450`| |||| ||`11,300`|`12,200`| |||| ## **`17. Tangible fixed assets`** |**`Tangible fixed assets`**||||| |---|---|---|---|---| |**`Cost`**
`At 1 April 2021`
`Additions`
`At 31 March 2022`
**`Depreciation`**
`At 1 April 2021`
`Charge for year`
`At 31 March 2022`
**`Net book value`**
`At 31 March 2022`
`At 31 March 2021`|`Freehold`
`Plant and`
`property`
`machinery`
`£`
`£`
**`189,611`**
**`88,697`**
**`-`**
**`605`**
**`189,611`**
**`89,302`**
**`87,362`**
**`86,602`**
**`3,794`**
**`1,346`**
**`91,156`**
**`87,948`**
**`98,455`**
**`1,354`**
`102,249`
`2,095`|`Fixtures`
`and`
`fittings`
`£`
**`47,858`**
**`859`**
**`48,717`**
**`47,327`**
**`261`**
**`47,588`**
**`1,129`**
`531`|`Motor`
`vehicles`
`£`
**`26,735`**
**`-`**
**`26,735`**
**`26,735`**
**`-`**
**`26,735`**
**`-`**
`-`|`Totals`
`£`
**`352,901`**
**`1,464`**| |||||**`354,365`**| |||||**`248,026`**
**`5,401`**| |||||**`253,427`**| |||||**`100,938`**| |||||`104,875`| ``` A legal charge held by the Arts Council of Wales in relation to the freehold property expires 5 November 2027. ``` ## **`18. Debtors: amounts falling due within one year`** |`Trade debtors`
`Corporation tax recoverable`
`VAT`
`Prepayments`|**`2022`**
**`£`**
**`26,814`**
**`73,139`**
**`917`**
**`948`**
**`101,818`**|`2021`
`£`
`1,838`
`22,356`
`1,418`
`1,071`| |---|---|---| |||`26,683`| ``` continued... ``` ``` 21 ``` ## **`THEATR NA N'OG`** ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022`** ## **`19. Creditors: amounts falling due within one year`** |**`Creditors: amounts falling due within one year`**||| |---|---|---| |`Trade creditors`
`Social security and other taxes`
`Other creditors`
`Accrued expenses`
`Deferred government grants`|**`2022`**
**`£`**
**`11,301`**
**`2,122`**
**`2,481`**
**`15,353`**
**`45,000`**
**`76,257`**|`2021`
`£`
`5,333`
`2,885`
`214`
`11,921`
`5,000`| |||`25,353`| ## **`20. Leasing agreements`** ``` Minimum lease payments under non-cancellable operating leases fall due as follows: ``` |`Within one year`
**`Movement in funds`**
**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**
`Net movement in funds, included in the above are as follows:`
**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Restricted`
**`TOTAL FUNDS`**|**`2022`**
`2021`
**`£`**
`£`
**`720`**
`720`
`Net`
`movement`
`At`
`At 1.4.21`
`in funds`
`31.3.22`
`£`
`£`
`£`
**`466,835`**
**`6,762`**
**`473,597`**
**`466,835`**
**`6,762`**
**`473,597`**
`Incoming`
`Resources`
`Movement`
`resources`
`expended`
`in funds`
`£`
`£`
`£`
**`416,429`**
**`(409,667)`**
**`6,762`**
**`37,871`**
**`(37,871)`**
**`-`**
**`454,300`**
**`(447,538)`**
**`6,762`**| |---|---| ## **`21. Movement in funds`** ``` continued... ``` ``` 22 ``` ``` THEATR NA N'OG ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022`** ## **`21. Movement in funds - continued`** ## **`Comparatives for movement in funds`** ||`Net`|| |---|---|---| ||`movement`|`At`| |`At 1.4.20`|`in funds`|`31.3.21`| |`£`|`£`|`£`| |**`Unrestricted funds`**||| |`General fund`
`466,908`|`(73)`|`466,835`| |**`TOTAL FUNDS`**
`466,908`|`(73)`|`466,835`| |`Comparative net movement in funds, included in the above are as follows:`||| |`Incoming`|`Resources`|`Movement`| |`resources`|`expended`|`in funds`| |`£`|`£`|`£`| |**`Unrestricted funds`**||| |`General fund`
`369,094`|`(369,167)`|`(73)`| |**`Restricted funds`**||| |`Restricted`
`53,000`|`(53,000)`|`-`| |**`TOTAL FUNDS`**
`422,094`|`(422,167)`|`(73)`| ``` A current year 12 months and prior year 12 months combined position is as follows: ``` |**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`Net`
`movement`
`At 1.4.20`
`in funds`
`£`
`£`
`466,908`
`6,689`
`466,908`
`6,689`|`At`
`31.3.22`
`£`
`473,597`| |---|---|---| |||`473,597`| ``` continued... ``` ``` 23 ``` ## **`THEATR NA N'OG`** ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022`** ## **`21. Movement in funds - continued`** ``` A currentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedinthe above are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Restricted`
**`TOTAL FUNDS`**|`Incoming`
`Resources`
`Movement`
`resources`
`expended`
`in funds`
`£`
`£`
`£`
`785,523`
`(778,834)`
`6,689`
`90,871`
`(90,871)`
`-`
`876,394`
`(869,705)`
`6,689`| |---|---| ## **`22. Employee benefit obligations`** ``` Thecharityoperatesadefinedcontributionpensionscheme.Theassetsoftheschemeareheld separately fromthoseofthecharityinindependentlyadministeredfunds.Thepensioncostscharge represents contributions payable by the charity to those funds and amounted to £4,771 (2021; £5,822). ``` ## **`23. Related party disclosures`** ## **`EFGHEL Limited`** ``` A companywhollyowned by Eric Styles who is the husbandof Geinor Styles, companysecretaryand employee of the charity. ``` ``` During the year EFGHEL Limited provided the following services to the charity: ``` ||`2022`|`2021`| |---|---|---| ||`£`|`£`| |`Reimbursement of iphone use`|`600`|`600`| |`Computer support`|`525`|`225`| |`Reimbursed computer supplies`|`351`|`-`| |||| ||`1,476`|`825`| |||| ``` The balance outstanding at the balance sheet date was £810 (2021; £nil). ``` ``` continued... ``` ``` 24 ``` ## **`THEATR NA N'OG`** ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022`** ## **`24. Limited by guarantee`** ``` The charityis constitutedas a companylimitedby guaranteeanddoes not have a sharecapital.Each member gives a guarantee to contribute a sum not exceeding £1, to the company should it be wound up. ``` ``` 25 ```