REGISTERED COMPANY NUMBER: 02375424 (England and Wales) REGISTERED CHARITY NUMBER: 702506 ort of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2024 for Cwmni Theatr Arad Goch Acom an uarantee Emyr Mortimer Archwilwyr Cyf 32 Y Maes Caemarfon Gwynedd LL55 2NN
Cwmni Theatr Arad Goch Contents of the Financial Staternents ort ear arc Page Reference and Administrative Details Report of the Trustees 2 to 4 Independent Examinerfs Report Statement of Financial Activities Balance Sheet 7 to 8 Cash Flow Staternent Notes to the Cash Flow Statement 10 Notes to tho Financial Statements 11 to 23
Cwmni Theatr Arad Goch Reference and Administrative Details ort ear arc TRUSTEES Mrs S M Boswell Mr D Creunant Dr D H Edwards Mrs S Gibson Prof. E H G Jones Mrs A M Jones Mrs G Owen MrSMRees Ms R C Williams Mr S P Jones COMPANY SECRETARY Mrs N Vl Evans REGISTERED OFFICE Stryd Y Baddon Aberyslwyth Ceredigon SY23 2NN REGISTERED COMPANY NUMBER 02375424 (England and Wales) REGISTERED CHARITY NUMBER 702506 INDEPENDENT EXAMINER Emyr Mortirner Archwilwyr Cyf 32 Y Maes Caernarfon Gwynedd LL55 2NN SOLICITORS Humphrey, Roberts & Bott 1 Alfred Pla AberysbNylh Ceredigion SY23 2BS ACCOUNTANTS Emyr Mortimer Archwilwyr Cyf 32 Y Maes Caernarfon Gwynedd LL55 2NN Page 1
Cwmni Theatr Arad Go¢h Re istered number: 02375424 ort of the Trustees ort ear arch 2024 The truslees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity foi the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicab e to charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective 1 January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims The main objective of the charity is to promote, maintain, improve and increase the education of the public through the promotion of educational arts and drama of excellence, in particular the art of drama, dramatic adaptations, miming, literature. dance. singing and rnusic. The charity provides a public benefit by producing and performing dramas and workshops for children and young people. The charity also holds Iraining courses and workshops for childien and drama teachers. These activities are subsidised by grants, tnost notably from The Arts Council of Wales. Arad Goch aims to create a Welsh contemporary theatre of the highest quality, which will expand and contribute to the outlook, personal and cultural understanding of its audience. The charity aims to provide support and opportuntties for artists lo enable them to develop their ideas. This promotes Ihe development and improvement of the arts in Wales. hence contributing lo the Gullural richness of our country. The trustees have had regard to the Charities Comrnission guidance on public benefit. Charitable activities A full review of the achievement and performance of the charity is available in a separale chairman's report which will be presented at Ihe Annual General Meeting. The Irustees are pleased Ihat parlicipalion levels and audience sizes support their assessment that the charity is achieving ils objeclive, as does the ongoing assistance of The Arts Council of Wales. Public benefit The trustees have complied with their duties as set out in Section 17(5) of the 2011 Charities Act to have due regard to the public benefit guidance published by the Charity Commission. FINANCIAL REVIEW Principal funding sources The charity's principal funding source is the Arts Council for Wales who contributed £352,04812023'. £355,964) of core revenue funding for the year. The results of the charity are shown in the Statement of Financial Activities. The overall net incoming resources show a deficit of £138,740 (2023: Adjusted surplus of £86,292)- Investmenl policy and objectives The trustees, investment powers are govemed by the Memorandum & Articles of Association. The trustees have a policy of keeping any surplus as liquid funds in high interest bearing short term deposits, which can be accessed readily. The trustees are of the opinion that the charity does not have sufFicient reservés to warrant investments in otherforms. Page 2
Cwmni Theatr Arad Go¢h Re istered number: 02375424 ort of the Trustees ort ear arch 2024 FINANCIAL REVIEW Reserves policy The trustees have established a policy whereby the unrestricted general funds ("the free reserves") held by the charity should be equivalent to 3 to 6 months of the resources expended, which equates to approximately between £125.000 and £250,000 in general funds. The actual free reserve. as at the end of March 2024 stood at £240,649 (2023: £299,317). At this level the trustees feel they would be able to continue the current activities of the charity. In the event of a significant drop in funding, li would obviously be necessary to consider how the funding would be replaced or activities changed. At present the general fund amounts to £292.551 (2023: £337,216), Wl¢h is slightly above the current target level, but in these inflationary times. the current free reserve value is not considered to be excessive. FUTURE PLANS A full review of the planned future developments of the charity is available in a separate Chairman's Report which will be presented at the Annual General Meets"ng. A revised f(XAr-year plan has been submitted to The Arts Council of Wales. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing doGument The charity is controlled by its goveming documents, a Memorandum & Articles of Association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. Rèeruitmént and appointmènt of néw trustèès The names of the Iruslees (who are also directors for the purpose of company law) are noted on page 1. Trustees are appointed by the members in General Meeting or by the truslees if there are vacant positions. The minimum number of trustees is 3 and the rnaximurn 20. Trustees are appointed for a period of three years and retire by rotation. Organlsallonal structure The trustees meet quarterly. Responsibility for running the charity. day to day, is delegated to the Artistic Director, Jeremy Turner, and the Administrative Manager, Nia Wyn Evans. who are appointed by the trustees. The trustees have the followng sub committees which report to the main Board:_ Buildings sub-committee - Opening Doors sub-committee - Artistic sub-committee Staffing sub-committee Business & sponsorship sub-committee The liability of the member of the charity is limited to £1 each. Induction and training of new trustees When appointed, new trustees are notified of their role and responsibilities. This includes training on the policies and practices of the charity. The charity has a policy of offering training suited to the individual needs of trustees. Page 3
Cwmni Theatr Arad Go¢h Re istered number: 02375424 ort of the Trustees ort ear arch 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and eOr. The charity follows the policy bookiet with regard lo noling and tackling significanl risk areas, and the Board meets quarterly in order to discuss how these can be minimised. The Irustees are of the opinion that there are no significant risks that require disdosure in this report. Financial and management data are reviewed quartedy by the treasurer and the Board. EVENTS SINCE THE END OF THE YEAR Information relating io events since the end of the year is given in the notes lo Ihe financial statements. STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees (who are also the directors of Cwmni Theatr Arad Goch for the purposes of company lawl are responsible for preparing the Report of the Trustees and the financial statements in accordance wilh applicable law and United Kingdom Accounting Standards (United lfj'ngdom Generally Accepted Accounting Practice). Company law requires the truslees to prepe financial statements for each financial year which give a true and fair view of the stale of affairs of Ihe charitable company and of the inGoming resourGes and application of resources, including the income and expenditure. of the charitable company for that period. In preparing those financial statements, the trustees are required to select suitable accounting policies and then apply them consistently- observe the methods and principles in the Charity SORP; make judgements and estimates that are reasonable and prudenl" prepare the financial statements on the going conrn basis unless it is inappropriate to presume thal the charitable company will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them lo ensure that Ihe financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assels of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the board of trustees 20 November 2024 and signed on its behalf by: Mrs N W Evans - Secretary Page 4
Independent Examinerfs Report to the Trustees of wmni eatr ra 0¢ Istere num er: 75424 Independent examinèrfs report to the trustees of Cwmni Theatr Arad Goeh ('the Company.) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. Responsibilities and basis of report As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparatK)n of the accounts in accordan with the requirements of the Companies Act 2006 ('the 2006 Act.). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Chariiies Act 2011 ('the 2011 Act'}. In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. Independent examinerfs slatement Since your charity's gross income exceeded £250,IX)O your examiner must be a member of a listed body. 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. whith is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connedion with the examination giving me cause to believe: accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act", or the accounts do not accord with those records: or 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 the accounls have not been prepared in accordance wilh Ihe methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)). I have no concerns and have come across no other matters in connection with Ihe examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Emyr Rice-Roberts BA FCA Emyr Mortimer Archwilwyr Cyr 32 Y Maes Caernarfon Gwynedd LL55 2NN 20 November 2024 Page 5
Cwmni Theatr Arad Goch Statement of Financial Activities ncor oratin an ncome an ear nditure Account or arc 31.3.24 Total funds 31.3.23 Total funds as restated Unrestricted fijnd Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 381.802 17,000 398,802 388,699 Charitable activities Project grants Production. development, workshop costs 50,000 50,000 124,829 33,386 57,229 7,932 40 41.318 57,269 20,458 65,686 Furtherance of primary objectives Investment income Other income Total 3.686 20.108 496211 3.687 20.108 571,184 1,039 973 601,684 EXPENDITURE ON Charitable activities Production. developmenl, workshop costs 522,603 25,283 162,038 684,641 25,283 709,924 490,205 25,187 515,392 Furtherance of primary objectives Total 162 038 NET INCOMEI(EXPENDITURE) Transfers between funds Net movement in funds (51.675> 7.010 (44.665) {87.065) 7,010 (94,075) (138,740) 86,292 18 {138:740) 86,292 RECONCILIATION OF FUNDS Total funds brought forward As Freviously reported Prior year adjuslment As restated 337.216 1,111.882 63,250 1.175,132 1.449.098 63,250 1,512,348 1,402,737 23,319 1,426,056 13 337.216 TOTAL FUNDS CARRIED FORWARD 292 551 1081057 1 373,608 1,512,348 The notes form part of these financial statements Page 6
Cwmni Theatr Arad Go¢h Re istered number: 02375424 Balance Sheet arc 31.3.24 Total funds 31.3.23 Total nds as restated Unrestricted fijnd Restricted funds Notes FIXED ASSETS Tangible assets 14 51.902 998.743 1,050,645 1,061,952 CURRENT ASSETS Debtors Cash at bank and in hand 15 61,222 190.193 251,415 93,180 11,865 105,045 154,402 202,058 356,460 117,470 340,560 458,030 CREDITORS Amounts falling due within one year 16 (10.766) 122,731} (33.497) (7,634} NET CURRENT ASSETS 240.649 82,314 322,963 450,396 TOTAL ASSETS LESS CURRENT LIABILITIES 292,551 1,081,057 1,373,608 1,512,348 NET ASSETS FUNDS Unrestricted funds Reslricled funds TOTAL FUNDS 292 551 1081057 1 373 608 1.512,348 18 292,551 1,081,057 1 373 608 337,216 1,175,132 1,512,348 The charitable company is entitled to exemption frorn audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. The members have not required the company to obtain an audit of tts financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilib'es 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 Page 7 continued...
Cwmni Theatr Arad Go¢h Re istered number: 02375424 Balance Sheet - continued arc These financial statements have been prepared in accordance with the provisions applicable to charitsble companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 20 November 2024 and were signed on ils behalf by: Prof. E H G Jones - Trustee Mrs S M Boswell - Trustee The notes form part of these financial statements Page 8
Cwmni Theatr Arad Goch Cash Flow Statement ort ear 31.3.24 31.3.23 restated a5 Notes Cash flows from operating activities Cash generated frotn operations Net cash (used inllprovided by operating activities 115,673 39,903 115.673 39,903 Cash flows from investing activities Purchase of tangible fixed assets Sale of tangible fixad assets I nterest received Net cash used in investing activities (28,511) 1,995 3,687 22,829 14,143) 1,039 3.104) 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 (138,502) 36,799 340.560 303,761 202,058 340,560 The notes form part of these financial statements Page 9
Cwmni Theatr Arad Goch Notes to the Cash Flow Statement ort ear arc RECONCILIATION OF NET IEXPENDITURE)IINCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 31.3.24 31.3.23 restated as Net {expenditure)lincorne for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Profit on disposal of fixed assets I nterest received Increase in debtors Increasel(decrease) in creditors Net cash (used in)Iprovided by operations (138.740) 86,292 38,322 (499) (3.687) (36,932) 25,863 115673 33,727 (1.039) {72.802) 6.275) 39,903 ANALYSIS OF CHANGES IN NET FUNDS At 1.4.23 Cash flow Al 31.3.24 Net cash Cash at bank and in hand 340,560 340,560 340,560 138,502) 138,502) 138,502) 202,058 202,058 202,058 Total The notes form part of these financial statements Page 10
Cwmni Theatr Arad Goch Notes to the Financial Statements ort ear arc GENERAL INFORMATION The charity is a private company limiled by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Stryd Y Baddon, Aberystwyth, Ceredigion, SY23 2NN. ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 1021 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 (effective 1 January 2019),. Financial Reporting Stsndard 102 'The Financial Repx)rting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The financial statements are prepad in sterling. which is the funclional currency of the entity. Limited by guarantee Cwmni Theatr Arad Goch is a (x)mpany limited by guarantee. The liability of the members of the Gharity is limited to £1 each. Going concern There are no material uncertainties about the charity's ability to continue as a going concern. Income All income is recognised in the Statement ol Financial Activities once the charity has entillement to the funds, it is probable that the income will be reiVed and the amount can be measured reliably. The following specific policies are applied to particular categories of income.. Income from donations or grants is recognised when there is evidence of enlitlement to the gift, receipt is probable and its amount can be measured reliably. Income from contracts for the supply of services is recognised with the delivery of the contracted servits. This is classified as unreslricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned rf unspent, in which case it may be regarded as restricted. Capital grants are recognised as restricted funds and amortised by equal annual instalments on the same basis as the depreciation charge applicable to the assets concerned and transferred to general funds Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and Ihe amount of the obligation can be measured reliably. Expenditure is accounled for on an accruals basis and has been classifEd under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent wilh the use of resources. Page11 continued...
Cwmni Theatr Arad Goch Notes to the Financial Statements- corrtinued ort ear arc ACCOUNTING POLICIES - continued Tangible fixed assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded al the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequenl accumulated impairment losses. An increase in the carrying amounl of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities A decrease in the carrying amount of an asset as a result of revaluation. is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case Ihe loss is shown within other recognised gains and losses on the statement of financial activib'es. Depreciation is calculated so as to write off the cost or valualion of an asset, less its residual value, over the useful economic life of that asset as follows: Freehold propety - 20/0 Straight line Fixtures, fittings and equipment- 20 % reducing balan Motor vehicles - 25% reducing balance Computer equipment- 20°/o reducing balance Any single item over the value of £100 is capitalised and incled in fmed assets. A review for indicators of impairment is carried out at each reporting date. with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairmenls are also reviewed for possible reversal at each reporting date. Taxatlon The charity is exempt from corporation tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discietion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions 8rise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to Ihe financial statements. Pension costs and other post-retirement benefits The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. Financial instruments A financial asset or a financial liability is iecognised only when the entty becomes a party to the contractual provisions of the instrumenl. Page 12 continued...
Cwmni Theatr Arad Goch Notes to the Financial Statements- corrtinued ort ear arc ACCOUNTING POLICIES - continued Financial instruments Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. unless the arrangement conslitutes a financing transaction, where it is recognised al the present value of the future payments discounted at a market rate of interesl for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Financial assets thal are measured at cost or amortised (J)st are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impaimient, an impairment loss is recognised under the appropriale heading in Ihe statement of financial activities in which Ihe initial gain was recognised. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment nol previously been recognised. DONATIONS AND LEGACIES 31.3.24 31.3.23 restated as Donations Grants 6,000 392,802 398,802 388,699 388,699 Grants received. included in the above. are as follows- 31.3.24 31.3.23 restated as Other grants 392 802 388,699 Page 13 continued...
Cwmni Theatr Arad Goch Notes to the Financial Statements- corrtinued ort ear arc INVESTMENT INCOME 31.3.24 31.3.23 restated as Deposit account interest Other interest 3.687 991 48 INCOME FROM CHARITABLE ACTMTIES 31.3.24 31.3.23 restated as Activity Project grants Production. development. workshop costs Production. development. workshop costs Furtherance of pritnary objectives Grants 50,000 124.829 Theatre tax relief 33.386 20.458 Performance fees Performance fees Workshop & training fees Facilities & equipment rental 7,932 30,094 41.298 Furtheran of primary objectives 13.086 6.405 Furtherance of primary objectives 14,089 17,983 210973 Grants received, included in the above, are as follow5: 31.3.24 31.3.23 restated as Project related grants 50.000 124.829 Page 14 continued...
Cwmni Theatr Arad Goch Notes to the Financial Statements- corrtinued ort ear arc CHARITABLE ACTIVITIES COSTS Support costs (see note 7) Direct Costs Totals Production. developrnent. workshop costs Furtherance of primary objectives 500,718 183,923 684,641 25,283 209 206 25,283 709 924 SUPPORT COSTS Support cosls Governance costs Totals Production, development, workshop costs Furtherance of primary objectives 183.923 183.923 25,283 209 206 25,283 183 923 NET INCOMEI(EXPENDITURE) Net incomel(expenditurel is stated after chargingl(crediting): 31.3.24 31.3.23 restated as Depreciation - owned assets Surplus on disposal af fixed assets 38,322 499 33,726 INDEPENDENT EXAMINERS. REMUNERATION The independent examiner's remuneration constituted an examination fee of £1,50012023: £1,500) with an additional £2,250 (2023: £2.250) for accountancy. tax compliance and other non-examination related services. Page 15 continued...
Cwmni Theatr Arad Goch Notes to the Financial Statements- corrtinued ort ear arc 10. TRUSTEES. REMUNERATION AND BENEFITS There were no trustees. remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Truslees. expenses There were no trustees. expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. 11. RELATED PARTY TRANSACTIONSAND TRUSTEES. EXPENSES AND REMUNERATION 31.3.24 31.3.23 restated as Wages and salaries Social security costs Other pension costs 313,184 17,675 10,672 341,531 291,214 14,112 10,229 315 555 The avemge monthly number of empk)yees during the year was as follows: 31.3.24 31.3.23 restated as Actors & production Technical & marketing Administration & management No employees received emoluments in ex$$ of £60.000. The trustees, in their capacity as such, give their time and expertise without any form of remuneration or other benefil in cash or kind. There were no expenses paid to the Iruslees in the year (2023.. Nil). The trustees consider its key management personnel to comprise the trustees, the Artistic Director and the Business Director, whom together, are responsible for the day-to-day operations of the theatre. The total employment benefits of the key management rSOnnel wère £87.377 {2023.' £93,312) Page 16 continued...
Cwmni Theatr Arad Goch Notes to the Financial Statements- corrtinued ort ear arc 12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted nd funds Total funcs as restated INCOME AND ENDOWMENTS FROM Donations and legacies 388,699 388,699 Charitable activitios Project grants Production, development, workshop costs 124,829 124,829 20.458 63,853 20,458 65,686 Furtherance of primary objectives 1,833 Investment income Other income Total 1,040 973 475,023 (1) 1,039 973 601,684 126,661 EXPENDITURE ON Charitable activities Productlon, development, workshop costs 483,083 25.187 508,270 7.122 490,205 25,187 515,392 Furtherance of primary objectives Total 7,122 NET INCOMEI(EXPENDITURE) Transfers between funds Net movement in funds {33,247) 28,393 (4,854) 119,539 28,393 91,146 86,292 86,292 RECONCILIATION OF FUNDS Total funds brought forward As previously reported Prior year adjustmenl As restated 318,751 23,319 342,070 1.083,986 1,402,737 23,319 1,426,056 1,083,986 TOTAL FUNDS CARRIED FORWARD 337,216 1.175,132 1,512,348 Page 17 continued...
Cwmni Theatr Arad Goch Notes to the Financial Statements- corrtinued ort ear arc 13. PRIOR YEAR ADJUSTMENT The 2023 prior year adjustments, amounting to £23,319 relaled to the inclusion of the 2021 and 2022 theatre tax credit claims within the financial statements. The 2024 prior year adjuslmenls. amounting to £63.250 related to the recognition of a restricted fund grants debtor. 14. TANGIBLE FIXED ASSErs Opening doors assets Freehold property Plantand machinery COST At 1 April 2023 Additions Disposals At 31 March 2024 DEPRECIATION At 1 April 2023 Charge for year Eliminated on disposal At 31 March 2024 NET BOOK VALUE At 31 March 2024 At 31 March 2023 1,178,700 348,966 1.936 931 1.178,700 350.902 931 156,765 23,574 327,087 4,763 898 180 339 331850 904 998 361 1021935 27 33 Page 18 continued...
Cwmni Theatr Arad Goch Notes to the Financial Statements- corrtinued ort ear arc 14. TANGIBLE FIXED ASSETS - conlinued Motor vehicles Computer equipment Totals COST Al 1 April 2023 Additions Disposals At 31 March 2024 DEPRECIATION At 1 April 2023 Charge for year Eliminated on disposal At 31 March 2024 NET BOOK VALUE At 31 March 2024 At 31 March 2023 14,426 26,575 1,995) 39,006 99.999 1,643,022 28,511 1,995) 1.669,538 99.999 12,648 6,714 83.672 3,265 581,070 38,322 18,863 86.937 618,893 1 050 645 1,061.952 1.778 16,327 15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 restated as Trade debtors Other debtors Agor Drysau grant debtors VAT Accrued income Prepayments 7.846 33.423 75,000 11,288 24,075 2.770 154,402 3.839 43.825 63,250 1,494 5.062 117,470 Page 19 continued...
Cwmni Theatr Arad Goch Notes to the Financial Statements- corrtinued ort ear arc 16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 restated as Trade creditors Social security and other taxes Other creditors Accrued expenses 12,297 3,742 1,708 15,750 2,882 1,002 3,750 17. SECURED DEBTS The following security is held and detailed as being outstanding on Ihe Companies House register.. Ale al char e in favour of the Arts Council of Wales Created.. 1 December 2006 Details." charge over the freehold known as 'the Mar6e'. Bath Stet, Aberystwyth - Uno WA833924 and the Vestry schoolrooms. Bath Street, Aberyshvyth Vno WA649146. Amount secured: £2.092,933 and all other monies due or to become due. Ale al char e in favour of the Arts Council of Wales Created.. 8 July 2005 Details.. charge over the freehold thown as Unit 61, Glanyrafon Industrial Estate, Llanbadarn Fawr, Aberystwyth - tlno CYM194033. Amount secured: £157,500 and all other monies due or to become due. Ale al char e in favour of the Arts Council of Wales Created.. 2 December 2004 Details.. charge over the freehold property known as 'the Manse,, Bath Street, Aberystwh Uno WA833924. Amount secured.. £232,754.00 and all other monies,obligations and liabilities due or lo become due from the company to the chargee under the temis of Ihe aforements'oned instrument creating or evidencing the charge. Page 20 continued...
Cwmni Theatr Arad Goch Notes to the Financial Statements- corrtinued ort ear arc 18. MOVEMENT IN FUNDS Prior year adjustment Net movement in funds Transfers between funds At 31.3.24 At 1.4.23 Unrestricted funds General fund 337,216 (51,675) 7,010 292,551 Restricted funds Capilal grants Agor Drysau festival project Tu fewn tu fas Clera 1.024,019 {25,304) 998,715 87,803 75 15 1.111,882 1,449,098 632SO (87,065) 18,354 (75) 15 7,010 82,342 63,250 63,250 87,065) 138,740 1,081,057 1,373,608 TOTAL FUNDS Net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 496,211 (547.886) (51.675) Restricted funds Agor Drysau festival projecl 74,973 (162,038) (87,065) TOTAL FUNDS 571.184 709 924) 138.740) Page 21 continued...
Cwmni Theatr Arad Goch Notes to the Financial Statements- corrtinued ort ear arc 18. MOVEMENT IN FUNDS - continued Comparatives for movement in funds Prior year adjustment Net movement in funds Transfers belween funds At 31.3.23 At 1.4.22 Unrestricted funds General fund 318.751 23,319 {33,247) 28,393 337,216 Restricted funds Capilal grants Agor Drysau festival project Tu fewn tu fas Clera Technical course 1,047,803 (23,783) 1.024,020 36,183 111.974 2,895 75 {588) 6,992 28.393) 151,052 75 {15) 573 6,992 119,539 86,292 1,083,986 1,402,737 1,175,132 1,512,348 TOTAL FUNDS 23,319 Comparative net movement in funds, induded in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 475,023 (508,2701 (33,247) Restricted funds Agor Drysau festival projecl Clera Technical course 114,999 1,833 9.829 126,661 601.684 (3.025) (1,2601 111,974 573 6,992 119.539 86,292 7,122) 515.392) TOTAL FUNDS Material restricted funds Ca ital Grant Fund This represents capital grants received by the charity to be used for funding its building and equipment. A transfer is made on an annual basis to the general fund of an am(xJnt equal to the depreciation in the assets funded by the grant. enin Doors Pro ect This relates to a bi-annual festival organised by the charity to promote international actors, foreign dramatic activities and performances. The festival is funded by the Arts Council for Wales (ACW), Town Council and other sponsorships. Page 22 continued...
Cwmni Theatr Arad Goch Notes to the Financial Statements- corrtinued ort ear arc 18. MOVEMENT IN FUNDS - continued Material restricted funds - continued Tu Fewn Fu Fas Funding was received from Heallhier Wales to take the production to primary schools in Powys. after a joint application for the funding was made by Arad Goch and Dyfed Powys Police. The production was shown to 90 schools in Powys during the year ended in March 2022. Clera Ceredi ion unding was received from Cynnal y Cardi in order to take the production around the communities of Ceredigion during the summer of 2021. The production had lo keep to the slrict Covid regulations which were in force at the time and was airned at communities which had been starved of creative performances during 2021. Technical Course Funding was received from Ceredigion Council for Ihe provision of Welsh medium technical theatre courses. The courses took place during the first quarter of 2023. 19. EMPLOYEE BENEFrr OBLIGATIONS The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £10.673 {2023'. £10.229). 20. RELATED PARTY DISCLOSURES There were no related party transactions for Ihe year ended 31 March 2024. 21. POST BALANCE SHEET EVENTS The trustees confirm that there are no posl balance sheet events to disdose {2023: Nil). Page 23
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