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 2023
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 2023
THEATR NA N'OG
|
Page |
Report of the trustees |
1 to 8 |
Independent examiner's report |
9 |
Statement of financial activities |
10 |
Balance sheet |
11 to 12 |
Cash flow statement |
13 |
Notes to the cash flow statement |
14 |
Notes to the financial statements |
15 to 28 |
THEATR NA N'OG (REGISTERED NUMBER: 01856580)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheir report
withthefinancialstatementsofthecharityfortheyearended31March2023.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
Objectives and aims
The objectsof the charityare to producetheatreproductionsfor youngpeople.The charitywill also tour productions
regionally, nationally and internationally to broaden its audience base.
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.
Its aims are to:
-
Inspire by producing bilingual theatre that captivates the minds and imaginations of audiences across Wales
-
- and beyond.
-
Invest by being a resilient and innovative company who are positioned to lead in the promotion and
-
celebration of home-grown talent, showing the best the creative industry in Wales has to offer.
-
Influence by creating theatre that has a purpose and reflects the evolving nature of our society.
By achieving these aims the organisation makes it a vital component in the arts sector in its region and in Wales.
Significant activities
The charity'smainobjectivescontinuedto be the promotionof theatreforyoungpeoplein ourthreeauthorities but
with an intentionto tourproductionsto a varietyof age groupsand beyondour traditionalarea.Fourkey areas were
identified for 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.
Strategiesforachievingtheaimsandobjectivesarethroughtheartisticplanwhichisopenlyconsulted with
stakeholders, which informs the charity's activities.
Thecharitymeasuresitssuccessthroughaudiencenumbersandparticipants.Italsoregardscriticalappraisal from
peer groups and funders.
Significantactivitiesundertakenin this financialyear were 3 productionsand an internationalprojectwith 3 European
countries.The charitybroadenedits reach to new areas in Wales with its new initiativeGoleufa/Beaconwhich will see
itsannualautumnproductionperformatTheatrBrycheiniog,enhancingaccessibilityforyoungaudiencesin Powys.
The organisation also applied for 3 year funding from the Arts Council of Wales.
1
THEATR NA N'OG (REGISTERED NUMBER: 01856580)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
Objectives and activities Public benefit
Thetrusteesofthecharityarecommittedtoprovidingapublicbenefit,andhavetakenintoaccountthe Charity
Commission's guidance in this area.
Forthemanymembersofouraudienceswhocomefromdeprivedcommunities,TheatrNaN'og'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.
Volunteers
Thecharityalsorecognisesthesignificanceofvolunteersforouractivities.TheYoungAssociatesandvolunteers for
specificevents.They alsocontributeto the discussionon policiesandstrategiesto engagewiththe wider community
and under-represented groups in the sector and society.
2
THEATR NA N'OG (REGISTERED NUMBER: 01856580)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
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 N'og aims to support freelance artists and venues in Wales, as they navigate their way through these uncertain ti mes, 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.
Erasmus+ - Unpacking Feelings
TheorganisationcontinueditsinternationalcollaborationbetweentwoWelshMediumschoolsinSwansea and
partnersinMalta,CyprusandSpain.Theprojectcreatedresourcesthatusea rangeof creativeartsmediato engage
pupilsinexpressingtheirfeelingsintheirsecondlanguageaspartoftheirrecoveryfromthenegativeimpact of
COVID-19.
Operation Julie
A co-productionwithAberystwythArts Centre,whichtoldthe storyof the famouspoliceoperationthattookplace in
WestWalesin1975-1977whichmanagetoundercover,atthetime,theworld'slargestLSDmanufacturer. This
original play with a 70's prog-rock soundtrack will tell the incredible story of Operation Julie.
The productionperformedat AberystwythArts Centre,TheatrBrycheiniogand The Lyric,Carmarthen,with audiences
of 6,792 and 94% capacity.
The Trial of Elgan Jones
The company'sannualschoolproductionat the DylanThomasTheatrein Swanseawas presentedin the Autumn. The
projecthadanadditionalweekatBreconMuseumaspartofapilotprojecttoexpandtheorganisation's audiences
anditspartnerswithTheatrBrycheiniogandBreconMuseum.Thenumberofchildrenwhosawtheproduction was
3,635.
Wallace 200
As partof the charity'spartnershipwith the BritishCouncil,the companypresenteda performanceof Wallaceas part
of the 200thbirthdayanniversaryat Usk withworkshopsat the localprimaryschool.It was performedto 300 people
with additional workshops at Usk Primary School with 90 children participating.
Other
The organisation performed to 10,817 audiences in this financial year.
The charity surpassed its expected audience and financial targets.
Theorganisationhasmaintaineditsmainfunder-theArtsCouncilofWalesandhasbeensuccessfulin achieving
fundingforitsproductionofOperationJulie.Inadditiontothecoregrants,furthergrantfundingwasawarded of
£102,484 (2022; £37,871) together with donations totalling £24 (2022; £957) received from the public.
3
THEATR NA N'OG (REGISTERED NUMBER: 01856580)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
Financial review
Financial position
Thecharitycontinuestoreviewitsincomebaseandcostbase,withaviewtoconservingresources.During this
financial period, resources have increased in line with budgetary forecasts. Reserves remain at a satisfactory level.
Thecharityhasseenanincreaseinmaterialcostsandintravelandaccommodationcostsdirectlyimpacting on
productioncosts of the organisation.Energycosts have alsorisenandthishas alsoimpactedon the core fundsof the
organisation.
Certainfactorswhichcouldaffectfuturefinancialperformancewillbetheincreasedcostsoftransporting audiences
tothecharity'sperformances,particularlyschoolchildren,whichcouldpotentiallyresultinfeweraudience numbers
and income.
Totalincomingresourcesfortheyearamountedto£616,018(2022;£454,300).Resourcesexpendedamount to
£582,217 (2022; £447,538). The net surplus for the year is £33,801 (2022; £6,762).
The net reserves at the balance sheet date are £507,398 (2022; £473,597) of general funds.
Principal funding sources
ThecharityhasmaintaineditsannualrevenuefundingfromtheArtsCouncilofWales.Inthisfinancialyear the
organisationhasappliedforfuture3yearfundingfromtheArtsCouncilofWales.Thedecisionwillbemade in
September 2023.
Investment policy and objectives
Thetrusteesconsiderthemostappropriatepolicyforinvestingsurplusfundsisinshorttermdepositaccounts to
maintain cashflow liquidity.
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.
Going concern
Aftermakingappropriateenquiries,thetrusteeshaveareasonableexpectationthatthecharityhas adequate
resourcesto continuein operationalexistenceforthe foreseeablefuture.Forthisreason,theycontinueto adopt the
goingconcernbasis in preparingthe financialstatements.Furtherdetailsregardingthe adoptionof the going concern
basis can be found in the Accounting Policies.
4
THEATR NA N'OG (REGISTERED NUMBER: 01856580)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
Future plans
Just Jump
Arevivalofouraward-winningproductioncommissionedbyCardiffHarbourAuthority,AssociatedBritishPorts and
Culture Step by Arts and Business Cymru. The production will be performed at the Norwegian Church in Cardiff.
The Butterfly Hunter / Heliwr Pili Pala
The company'sannualschool productionat the Dylan Thomas Theatre in Swansea to be presentedin the Autumn. The
project had an additional week at Theatr Brycheiniog as a result of the successful pilot project in 2022.
Y Fenyw Mewn Du
The secondproductionfor the ConsortiwmCymraeg.A Welsh translationof the successfulWest End show,which will
tour to the partner venues and the Borough Theatre in Abergavenny.
Operation Julie Tour
Atourofthesuccessfulsummerco-productionwithAberystwythArtsCentre,tellingthestoryofthefamous police
operationthattookplacein West Walesin 1975-1977whichmanagedto undercover,at the time,the world's largest
LSD manufacturer. This original play with a 70's prog-rock soundtrack will tell the incredible story of Operation Julie.
TheproductionwilltourtoAberystwythArtsCentre,TheatrBrycheiniog,TheLyricCarmarthen,PontioBangor and
The Riverfront Arts Centre.
Futureplansincludeexpansionof the charity'sreachto audiencesfurtherafield,with the schoolsprojecttaking place
in Swansea,BreconandNewport.The ConsortiwmCymraegwilldevelopits networkwithan additionalvenue joining
in 2024.
Structure, governance and management Governing document
Thecharityiscontrolledbyitsgoverningdocument,adeedoftrust,andconstitutesalimitedcompany,limited by
guarantee, as defined by the Companies Act 2006.
Charity constitution
TheatrNa N'og is a companylimitedby guaranteeand a registeredcharity.It was establishedin 1984 to 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.
Vacant positionsare advertisedand a short list are interviewedfor each post. Trustees are then chosen for the specific
skills that they will bring to the Board.
5
THEATR NA N'OG (REGISTERED NUMBER: 01856580)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
Structure, governance and management
Organisational structure
Thegoverningbodyistheboardoftrusteeswhosemembersarenon-executiveandunpaid.Theboard meets
bi-monthly and covers areas such as artistic development, diversity, membership and finance.
Anartisticdirectorisappointedbythetrusteestomanagethedaytodayoperationsofthecharity.To facilitate
effectiveoperations,theartisticdirectorhasdelegatedauthority,withintermsofdelegationapprovedby the
trustees, for operational matters including finance, employment and artistic performance related activity.
Induction and training of new trustees
All new trusteesare requiredto attendan inductionand orientationday to brief them on their legal obligations under
charityandcompanylaw,thecontentoftheMemorandumandArticlesofAssociation,thecommitteeand decision
makingprocesses,the businessplanandrecentfinancialperformanceof the charity.Trusteesare alsoencouraged to
attend appropriate external training events where these will facilitate the undertaking of their role.
Key management remuneration
The trusteesconsiderthattheboardof trusteesandtheartisticdirectorcomprisethekeymanagementpersonnel of
the charityin chargeof directing,controlling,runningandoperatingthe charity.The trusteesdelegatethe day to day
running of the organisation to the artistic director. All trustees give their time freely and no trustee received
remuneration during the year.
Thepayofseniorstaffwhoarenottrusteesissetatindustryapprovedlevels,reviewedannuallyand benchmarked
againstcomparableorganisationsrun on a voluntarybasis. The remunerationbenchmarkis generallythe mid-point of
the range paid for equivalent roles in similar organisations.
Related parties
The charity has key relationships with the Arts Council of Wales and agrees specific annual targets and objectives.
Partnerships
TheatrNaN'ogcontinuestocollaboratewithawiderangeofpartnersandfosterspositiveand meaningful
relationshipsforthefuture.Thispromotesandpresentsanexcitingcollectionofproductionscateringfor the
surrounding community and beyond.
This year the company has developed close working relationships with:
TheWelfareYstradgynlais,AwenTrust,AberystwythArtsCentre,DylanThomasTheatre,TheatreSoar, Swansea
Museum, National Waterfront Museum, National Museum Wales, Swansea University and Technocamps.
TheatrNaN'oghasanexcellentrelationshipwithlocalschools.Itsambitiontodeveloprelationshipswith schools
nationwideto replicatetheverysuccessfulmodelinSwansea,NeathPortTalbotandBridgendhasbeenrealised and
will expand further in 2024.
6
THEATR NA N'OG (REGISTERED NUMBER: 01856580)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
Structure, governance and management 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
Registered office
Unit 3
Milland Road Industrial Estate
Neath
SA11 1NJ
Trustees
G J Cripps
A C Jones (resigned 17/5/2022)
L J Swindell
D C Webster
J R Williams
C P Fitzgerald
K Lewis (resigned 13/9/2022)
K E Fisher
Company Secretary
G H Styles
Independent Examiner
Mark Howells FCCA
Carr, Jenkins & Hood
Oystermouth House Charter Court
Phoenix Way
Swansea Enterprise Park
Swansea
SA7 9FS
7
THEATR NA N'OG (REGISTERED NUMBER: 01856580)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2023
Reference and admlnlstratlve detalls
Bankers
HSBC Bank plc
3 Windsor Road
Neath
SAII ILN
Thls report has been prepared in accordance with the speclal provisions of Part IS of the Companles Act 2006 relatln6
to small companies.
Approved by order of the board of trustees on
10107120
and signed on Its behalf by..
D C Webster- Trustee
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
THEATR NA N'OG
Independent examiner's report to the trustees of Theatr Na N'og ('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'strusteesof the Company(andalsoits directorsfor the purposesof companylaw)youare responsible
for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfiedmyself that the accountsof the Companyare not requiredto be auditedunder Part 16 of the 2006 Act
andareeligibleforindependentexamination,Ireportinrespectofmyexaminationofyourcharity'saccounts as
carriedoutundersection145oftheCharitiesAct2011('the2011Act').IncarryingoutmyexaminationI have
followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Sincethecompany'sgrossincomeexceeded£250,000yourexaminermustbeamemberofabodylistedin section
145ofthe2011Act.IcanconfirmthatIamqualifiedtoundertaketheexaminationbecauseIamamemberof the
Association of Chartered Certified Accountants, which is one of the listed bodies.
Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnectionwith the
examination giving me cause to believe that in any material respect:-
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)).
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhich attention
should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mark Howells FCCA
Carr, Jenkins & Hood
Oystermouth House Charter Court
Phoenix Way
Swansea Enterprise Park
Swansea
SA7 9FS
10/07/2023 Date: .............................................
1
THEATR NA N'OG
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023
Unrestricted
Restricted
fund
fund
Notes
£
£
Income and endowments from
Donations and legacies
3
334,442
-
Charitable activities
5
Productions and touring
130,059
139,826
Investment income
4
11,691
-
Other income
6
-
-
Total
476,192
139,826
Expenditure on
Raising funds
7
41,347
-
Charitable activities
8
Productions and touring
503,041
139,826
Taxation
11
(101,997)
-
Total
442,391
139,826
NET INCOME
33,801
-
Reconciliation of funds
Total funds brought forward
473,597
-
Total funds carried forward
507,398
- |
2023
Total
funds
£
334,442
269,885
11,691
-
616,018
41,347
642,867
(101,997)
582,217
33,801
473,597
507,398 |
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 |
|
|
|
The notes form part of these financial statements
10
THEATR NA N'OG (REGISTERED NUMBER: 01856580)
BALANCE SHEET 31 MARCH 2023
Unrestricted
Restricted
fund
fund
Notes
£
£
Fixed assets
Tangible assets
17
96,891
-
Current assets
Debtors
18
143,744
-
Cash at bank and in hand
349,516
-
493,260
-
Creditors
Amounts falling due within one year
19
(55,753)
-
Net current assets
437,507
-
Total assets less current liabilities
534,398
-
Accruals and deferred income
21
(27,000)
-
NET ASSETS
507,398
-
Funds
22
Unrestricted funds
Total funds |
2023
Total
funds
£
96,891
143,744
349,516
493,260
(55,753)
437,507
534,398
(27,000)
507,398
507,398
507,398 |
2022
Total
funds
£
100,938
101,818
347,098
448,916
(31,257)
417,659
518,597
(45,000)
473,597
473,597
473,597 |
|
|
|
The charitablecompanyis entitledto exemptionfrom audit under Section477 of the CompaniesAct 2006 for the year
ended 31 March 2023.
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear 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.
The notes form part of these financial statements
continued...
11
THEATR NA N'OG {REGISTERED NUMBER: 01856580)
BALANCE SHEET- continued
31 MARCH 2023
These financial statements have been prepared in accordance with the provisions applicable to charitable companies
subject to the small companles reglme.
nancial sta
ents were approved by the Board of Trustees and authori5ed for Issue
and were signed on its behalf bv..
on
G J CTIpp5- Tf
ee
The notes form part of these financial statements
12
THEATR NA N'OG
CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2023
Notes
Cash flows from operating activities
Cash generated from operations
1
Finance costs paid
Net cash provided by/(used in) operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Net cash provided by/(used in) 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 |
2023
£
2,347
(235)
2,112
(1,008)
1,314
306
2,418
347,098
349,516 |
2022
£
(11,955)
(163)
(12,118)
(1,464)
50
(1,414)
(13,532)
360,630
347,098 |
|
|
|
The notes form part of these financial statements
13
THEATR NA N'OG
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2023
1. Reconciliation of net income to net cash flow from operating activities
Reconciliation of net income to net cash flow from operating activities |
|
|
Net income for the reporting period (as per the Statement of financial
activities)
Adjustments for:
Depreciation charges
Interest received
Finance costs
Increase in debtors
Increase in creditors
Net cash provided by/(used in) operations |
2023
£
33,801
5,055
(1,314)
235
(41,926)
6,496
2,347 |
2022
£
6,762
5,401
(50)
163
(75,135)
50,904 |
|
|
(11,955) |
2. Analysis of changes in net funds
|
At 1.4.22 |
Cash flow |
At 31.3.23 |
|
£ |
£ |
£ |
Net cash |
|
|
|
Cash at bank and in hand |
347,098 |
2,418 |
349,516 |
|
347,098 |
2,418 |
349,516 |
Total |
347,098 |
2,418 |
349,516 |
The notes form part of these financial statements
14
THEATR NA N'OG
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
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 FinancialActivitieswhen the charityhas entitlementto the funds,
anyperformanceconditionsattachedtotheincomehavebeenmet,itisprobablethattheincomewill be
received and the amount can be measured reliably.
Donations and voluntary income are accounted for when receivable.
Thecharityreceivesgovernmentgrantsinrespectoffurtheringitscharitableobjectives.Income from
governmentandothergrantsarerecognisedatfairvaluewhenthecharityhasentitlementafter any
performanceconditionshave been met, it is probablethat the incomewill be receivedand the amountcan be
measured reliably. If entitlement is not met, then these amounts are deferred.
Intereston funds held on depositis includedwhen receivableand the amountcan be measuredreliablyby the
charity; this is normally upon notification of the interest paid or payable 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...
15
THEATR NA N'OG
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023
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...
16
THEATR NA N'OG
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
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
Donations
Grants
Grants received, included in the above, are as follows:
Arts Council of Wales
Arts Council of Wales Cost of Living
Investment income
Rental income
Interest receivable
Corporation Tax interest |
2023
£
24
334,418
334,442
2023
£
324,363
10,055
334,418
2023
£
10,377
1,258
56
11,691 |
2022
£
957
319,569 |
2022
£
957
319,569 |
|
|
320,526 |
|
|
|
2022
£
319,569
- |
|
|
|
319,569 |
|
|
|
|
2022
£
10,377
50
- |
|
|
|
10,427 |
4. Investment income
continued...
17
THEATR NA N'OG
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
5. Income from charitable activities
2023
Productions
and
touring
£
Box office and performance income
160,411
Consultancy and other fees
2,437
Sundry sales
4,410
Grants
102,484
Royalties received
143
269,885 |
2022
Total
activities
£
83,562
854
60
35,371
-
119,847 |
|
|
Incomefromcharitableactivitieswas£269,885(2022;£119,847)ofwhich£139,826(2022;£37,871) was
attributable to restricted funds and £130,059 (2022; £81,976) was attributable to unrestricted funds.
Grants received, included in the above, are as follows:
Arts Council of Wales
Oakdale Trust
Arts & Business Cymru
Colwinston Trust
The British Council
International Links (Global) Ltd
Urdd Gobaith Cymru
Gwendoline and Margaret Davies Charity
6.
Other income
Arts & Business Cymru Award
Millennium Stadium Charitable Trust |
2023
£
100,000
-
-
-
-
2,454
30
-
102,484
2023
£
-
-
- |
2022
£
5,000
2,000
3,750
10,000
6,500
2,457
664
5,000 |
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 |
|
|
|
|
3,500 |
continued...
18
THEATR NA N'OG
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
7. Raising funds
Raising donations and legacies
|
Raising donations and legacies |
|
|
|
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Staff costs |
|
33,924 |
35,283 |
|
Publicity and advertising |
|
7,423 |
13,088 |
|
|
|
41,347 |
48,371 |
8. |
Charitable activities costs |
|
|
|
|
|
Direct |
Support |
|
|
|
Costs (see |
costs (see |
|
|
|
note 9) |
note 10) |
Totals |
|
|
£ |
£ |
£ |
|
Productions and touring |
506,757 |
136,110 |
642,867 |
£139,826(2022;£37,871)of theabovecostswere attributableto restrictedfunds,£503,041(2022; £412,079)
of the above costs were attributable to unrestricted funds.
9. Direct costs of charitable activities
9.
Direct costs of charitable activities |
|
2023
£
Staff costs
61,170
Production costs
438,012
Motor running expenses
2,989
Subsistence and touring expenses
2,357
App development and hosting
2,229
506,757
10.
Support costs
Production
Governance
Management
costs
£
£
Productions and touring
57,609
78,501 |
2022
£
29,375
235,311
2,368
376
2,223 |
|
269,653 |
|
Totals
£
136,110 |
continued...
19
THEATR NA N'OG
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
10. Support costs - continued
Support costs, included in the above, are as follows:
Production management
Production management |
|
|
|
2023 |
2022 |
|
Productions |
|
|
and |
Total |
|
touring |
activities |
|
£ |
£ |
Wages |
36,536 |
52,810 |
Social security |
1,263 |
1,457 |
Pensions |
1,109 |
1,272 |
Other operating leases |
270 |
181 |
Water rates |
73 |
57 |
Insurance |
3,452 |
2,808 |
Light and heat |
1,238 |
901 |
Telephone |
725 |
750 |
Postage and stationery |
798 |
969 |
Repairs and renewals |
5,369 |
15,818 |
Cleaning |
1,322 |
1,931 |
Affiliation fees |
2,358 |
2,078 |
Legal and professional fees |
1,200 |
- |
Depreciation of tangible and heritage assets |
1,896 |
2,000 |
|
57,609 |
83,032 |
Governance costs |
|
|
|
2023 |
2022 |
|
Productions |
|
|
and |
Total |
|
touring |
activities |
|
£ |
£ |
Wages |
30,481 |
28,773 |
Social security |
1,798 |
1,810 |
Pensions |
1,524 |
1,364 |
Independent examiners remuneration |
5,225 |
4,990 |
Independent examiners remuneration for |
|
|
other work |
6,400 |
6,310 |
Other operating leases |
631 |
423 |
Water rates |
110 |
85 |
Insurance |
8,054 |
6,553 |
Light and heat |
1,856 |
1,351 |
Telephone |
1,691 |
1,749 |
Postage and stationery |
1,861 |
2,262 |
Sundry expenses |
3,130 |
3,389 |
Repairs and renewals |
8,054 |
23,726 |
Cleaning |
1,983 |
2,897 |
Staff training |
2,309 |
2,896 |
Carried forward |
75,107 |
88,578 |
continued...
20
THEATR NA N'OG
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
10. Support costs - continued
Governance costs - continued
2023
Productions
and
touring
£
Brought forward
75,107
Legal and professional fees
-
Depreciation of tangible fixed assets
3,159
Bank charges
235
Interest on late PAYE
-
78,501
11.
Taxation
2023
£
Theatre tax relief
(101,997)
Children's tv programming tax credit
-
(101,997) |
2022
Total
activities
£
88,578
5,123
3,401
161
2
97,265
2022
£
(43,226)
(7,557)
(50,783) |
|
|
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
expenditureitincurredonprogrammesproducedintheyearended31March2021.Provisionofthis credit
was made in the year ended 31 March 2022.
12. Net income/(expenditure)
Net income/(expenditure) is stated after charging/(crediting):
|
2023 |
2022 |
|
£ |
£ |
Examination of the financial statements |
5,225 |
4,990 |
Other services |
6,400 |
6,310 |
Depreciation - owned assets |
5,055 |
5,401 |
Other operating leases |
901 |
604 |
continued...
21
THEATR NA N'OG
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
13. Trustees' remuneration and benefits
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2023norforthe year
ended 31 March 2022.
Trustees' expenses
Therewerenotrustees'expensespaidfortheyearended31March2023norfortheyear ended
31 March 2022.
14. Staff costs
Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Productions and touring
Administration and management |
|
2023
£
156,319
6,133
5,353
167,805
2023
1
2
3 |
|
2022
£
141,799
5,574
4,771 |
|
|
|
|
152,144 |
|
|
|
|
2022
1
2
3 |
No employees received emoluments in excess of £60,000.
The total employee benefits of the key management personnel of the charity were £48,300 (2022; £41,453).
15. Comparatives for the statement of financial activities
Unrestricted
Restricted
fund
fund
£
£
Income and endowments from
Donations and legacies
320,526
-
Charitable activities
Productions and touring
84,476
35,371
Investment income
10,427
-
Other income
1,000
2,500
Total
416,429
37,871
Expenditure on
Raising funds
48,371
- |
Total
funds
£
320,526
119,847
10,427
3,500 |
|
454,300 |
|
48,371 |
continued...
22
THEATR NA N'OG
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
15.
Comparatives for the statement of financial activities - continued
Unrestricted
fund
£
Charitable activities
Productions and touring
412,079
Taxation
(50,783)
Total
409,667
NET INCOME
6,762
Reconciliation of funds
Total funds brought forward
466,835
Total funds carried forward
473,597
16.
Independent examiners remuneration
Examination of the financial statements
Other services |
15.
Comparatives for the statement of financial activities - continued
Unrestricted
fund
£
Charitable activities
Productions and touring
412,079
Taxation
(50,783)
Total
409,667
NET INCOME
6,762
Reconciliation of funds
Total funds brought forward
466,835
Total funds carried forward
473,597
16.
Independent examiners remuneration
Examination of the financial statements
Other services |
Restricted
fund
£
37,871
-
37,871
-
-
- |
Restricted
fund
£
37,871
-
37,871
-
-
- |
Total
funds
£
449,950
(50,783)
447,538
6,762
466,835
473,597 |
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
|
|
5,225 |
4,990 |
|
|
|
6,400 |
6,310 |
|
|
|
|
|
|
|
|
|
|
|
|
|
11,625 |
11,300 |
|
|
|
|
|
continued...
23
THEATR NA N'OG
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
17. Tangible fixed assets
Cost
At 1 April 2022
Additions
At 31 March 2023
Depreciation
At 1 April 2022
Charge for year
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022 |
Freehold
Plant and
property
machinery
£
£
189,611
89,302
-
1,008
189,611
90,310
91,156
87,948
3,794
1,000
94,950
88,948
94,661
1,362
98,455
1,354 |
Fixtures
and
fittings
£
48,717
-
48,717
47,588
261
47,849
868
1,129 |
Motor
vehicles
£
26,735
-
26,735
26,735
-
26,735
-
- |
Totals
£
354,365
1,008 |
|
|
|
|
355,373 |
|
|
|
|
253,427
5,055 |
|
|
|
|
258,482 |
|
|
|
|
96,891 |
|
|
|
|
100,938 |
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 |
2023
£
24,502
101,997
-
17,245
143,744 |
2022
£
26,814
73,139
917
948 |
|
|
101,818 |
continued...
24
THEATR NA N'OG
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
19. Creditors: amounts falling due within one year
Creditors: amounts falling due within one year |
|
|
Trade creditors
Social security and other taxes
VAT
Other creditors
Accrued expenses |
2023
£
1,315
3,022
506
2,500
48,410
55,753 |
2022
£
11,301
2,122
-
2,481
15,353 |
|
|
31,257 |
20. Leasing agreements
Minimum lease payments under non-cancellable operating leases fall due as follows:
Within one year
Between one and five years
21.
Accruals and deferred income
Deferred government grants
At 1 April
Additions during the year
Amounts released to income
At 31 March |
|
2023
£
660
2,255
2,915
2023
£
27,000 |
|
2022
£
720
-
720
2022
£
45,000 |
|
|
2023 |
|
2022 |
|
|
£ |
|
£ |
|
|
45,000 |
|
5,000 |
|
|
27,000 |
|
45,000 |
|
|
(45,000) |
|
(5,000) |
|
|
|
|
|
|
|
|
|
|
|
|
27,000 |
|
45,000 |
|
|
|
|
|
IncomedeferrediswhollyrelatedtotheproductionJustJumpthatisscheduledtobecompleted May/June
2023 as requested by Arts and Business Cymru, Cardiff Harbour Authority and Associated British Ports.
continued...
25
THEATR NA N'OG
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
22. 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
Comparatives for movement in funds
Unrestricted funds
General fund
TOTAL FUNDS |
Net
movement
At
At 1.4.22
in funds
31.3.23
£
£
£
473,597
33,801
507,398
473,597
33,801
507,398
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
476,192
(442,391)
33,801
139,826
(139,826)
-
616,018
(582,217)
33,801
Net
movement
At
At 1.4.21
in funds
31.3.22
£
£
£
466,835
6,762
473,597
466,835
6,762
473,597 |
|
|
continued...
26
THEATR NA N'OG
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
22. Movement in funds - continued
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Restricted
TOTAL FUNDS |
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
416,429
(409,667)
6,762
37,871
(37,871)
-
454,300
(447,538)
6,762 |
|
|
A current year 12 months and prior year 12 months combined position is as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
Net
movement
At 1.4.21
in funds
£
£
466,835
40,563
466,835
40,563 |
At
31.3.23
£
507,398 |
|
|
507,398 |
A currentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedinthe above
are as follows:
|
Incoming |
Resources |
Movement |
|
resources |
expended |
in funds |
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
General fund |
892,621 |
(852,058) |
40,563 |
Restricted funds |
|
|
|
Restricted |
177,697 |
(177,697) |
- |
TOTAL FUNDS |
1,070,318 |
(1,029,755) |
40,563 |
continued...
27
THEATR NA N'OG
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023
23. Employee benefit obligations
Thecharityoperatesadefinedcontributionpensionscheme.Theassetsoftheschemeareheld separately
fromthoseofthecharityinindependentlyadministeredfunds.Thepensioncostscharge represents
contributions payable by the charity to those funds and amounted to £5,354 (2022; £4,771).
24. 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:
|
2023 |
2022 |
|
£ |
£ |
Reimbursement of iphone use |
660 |
600 |
Computer support |
1,275 |
525 |
Reimbursed computer supplies |
- |
351 |
|
|
|
|
1,935 |
1,476 |
|
|
|
The balance outstanding at the balance sheet date was £nil (2022; £810).
25. 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.
28