Bruiser Theatre Company Statement of Financial Activities for the Year Ended 31 March 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Reslricted funds Total 2023 Total 2022 Nole Ineome and Endowments from: Donations and legacies Charitable activities Other trading activities 110 31.969 229,935 108 261,904 108 119,892 6,661 Total Income 31,969 230,04) 262,012 126,663 Expenditure on: Raising funds Charitable activities (64) {14,J02) (9 133) (185,804) (2,197) (200.106) (1,150) (129,145) Total Expenditure (14,J66) (187.937) {202,J03) (130,295) Net incomel(expenditure} Transfers between funds 42,106 86 59,709 (J,632) (86) Net movement in funds 17.517 42,192 59,709 (3,632) Reconciliation of funds Total funds brought forward 87,597 1 ?4,861 128,492 Total funds carried forward 15 105,114 79,456 Unrestricted funds 184,570 Restricted funds 124,860 Total 2022 Note Ineome and Endowments from: Donations and legacies Charitable activities Other trading activities iio 110 8,850 111,042 6.661 119,892 6,661 Total Income 8.850 117,813 126,663 Expendilure on: Raising funds Charitable activitie5 {1,150) {123,248) (1,150) {129,145) (5.897) Total Expenditure (5,897) {124.J98) {130,295) Net incomel(expenditure} (6.585) (J,6J2) Net movement in funds 2,953 {6,585) (3,632) Reconeiliation of funds Total funds brought fon¥ard 84,fv13 43,849 128,492 Total funds carried forward 15 87,596 i7,264 124,860 All of the charity's activities derive from continuing operations during the above two periods. Page21
Bruiser Theatre Company Statement of Financial Activities for the Year Ended 31 March 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) The funds breakdown for 202J & 2022 is shown in nole 15. Page 22
Bruiser Theatre Company (Registration number: N1601058) Balance Sheet as at 31 March 2023 2023 2022 Note Fixed assels Tangible assets 19,075 24,013 Current assets Debtors Cash at bank and in hand 12 6.664 171,639 6,858 120,066 178,303 126,924 Creditors: Amounts falling due within one year (12,808) (26,077) Net current assets 165,495 100,847 Net assets 184,570 124,860 Funds of the charity: Restricted funds 79,456 37,2fv1 Unrestricted income funds Unrestricted funds Designated Funds 17,117 70,479 70,479 Total unrestricted funds 105,114 87,596 Total funds 15 184,570 124,860 For the financial year ending ) l March 202) the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities: The members have not required the charity to obtsin an audit of its accounts for the year in question in accordance with section 476- and The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparalion of accounls. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements on pages 21 to JJ were approved by the trustees, and authorised for issue on 13 December 2023 and signed on their behalf by-. JfjsyL Mr Joseph Rea Trustee Page 2)
Bruiser Theatre Company Notes to the Financial Statements for the Year Ended 31 March 2023 I Charity status The charity is a charity limited b). guardntee and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £Nil towards the assets of the charity in the event of liquidation. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. 2 Accounting policies Summary ofsignificant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial Statements are set out below. These policie5 have been consistently applied to all the years presente(L unle55 Otherwise Stated. Statement of compliance The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable io charilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2015) - (Chariiies SORP {FRS 102)). the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Basis of preparalion Bruiser Theatre Company meets the definilion of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. Going concern The financlal statements have been prepared on a going concern basis. The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements. The Trustees are aware that the Charity has 105t its main funding. but remain hopeful that steps can be taken to ensure the organsiation continues with its activitie5. Steps have been taken by the Trustees to reduce non-essential costs to allow the Charity to regroup and source alternative funding. Exemption from preparing a cash flow statement The charity opted to early adopt Bulletin I published on 2 February 2016 and have therefore not included a cash flow statement in these financial staiements. Income and endowments All income is recognised once ihe charity has eniiilement io the income. it is probable that the income will be received and the amount of ihe income receivable can be MeasUd reliably. Page 24
Bruiser Theatre Company Notes to the Financial Statements for the Year Ended 31 March 2023 Donations ond legacie5 Donations are recognised 'hen ihe charity has been noiified in writing of both the amount and settlement date. In the event that a donation is subject to conditions thai require a level of perforn)ance by the charity before the charity is eniitled to the funds. the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period. Expendilure All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregale similar costs to that calegory. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent. and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Raisingfunds These are costs incurred in attracting voluntary income. the management of investments and those incurred in trading activities that raise funds. Charilable activities Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Support costs Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources. for example, allocating property costs by floor areas, or per capita. staff costs by the time spent and other costs by their usage. Governance costs These include the costs attributable to the charity's coTnpliance 1th constitutional and statutory requirements, including audiL strategic managetnent and trustees s meetings and reimbursed expense5. Taxation The charity is considered to pa55 the tests set out in Paragrdph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corpordtion tax purpose5. Accordingly, the charity is potentially exempt from taxation in respe¢i of income or capital gains received within categories covered by Chapter ) Part I l of the Corporaiion Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the exteni that such income or gains are applied eiclusively to charitable purposes. Tangible fixed assets Individual fixed assets costing £0.00 or more are initially recorded at COSL less any subsequent accumulated depreciation and subsequent accumulated impainnent losses. Deprecialion and amortisation Depreciation is provided on tangible flxed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as folloii'.s: Page 25
Bruiser Theatre Company Notes to the Financial Statements for the Year Ended 31 March 2023 A55et class Office Equipment Depreciation tnethod and rate 200/0 Straight Line Trade debtors Trade debtors are amounts due from customers for merchandise sold or services perfonned in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impainnent. A provision for the impairnient of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original tenns of the receivables. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call dep051ts, and other short-term higlY liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Trade creditors Trade creditors are obligations to pay for good5 or Services that have been acquired IT] the Ordinary course of business from suppliers. Accounts payable are cla55ified as cuent liabilities if the charity doe5 not have an unconditional right, at the end of the reporting period. to defer settlement of the creditor for at least twelve months after the reporting date. If there is an uncondilional riJo It to defer settlement for at least twelve months after the reporting date. they are presented as non-curreni liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Borrowings Interest-bearing borrow'ings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost. with the dlfference between the proceeds. iiet of transaction costs, and the amount due on redemption being recognlsed as a charge to the Statement of FIn]cIal Activities over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrom'ings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liabilit), for at least twelve months after the reporting date. Fund structure Unrestricted income funds are general fund5 that are available lor use at the tStees,5 discretion in furtherance of the objective5 of the charity. Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trllstees. Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. Page 26
Bruiser Theatre Company Notes to the Financial Statements for the Year Ended 31 March 2023 Financial instruments Classification Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities. Recognilion and measurement All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss. which are initially measured at fair value (which is normally the transaction price eNcluding transaction costs). unless the arrangement constitutes a financing transaction. Lf an arrangement constitute5 a financing transaction, the financial asset or financial liability is measured at the present value of the future pavments discounted at a market rate of interest for a similar debt instrument. Financial assets and liabilitie5 are only offset in the statement of financial p051tion when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settle(L b) the charity transfers to another party substanlially all of the risks and rew'ards of oTh'nership of the financial asset, or c) the charity. despite having retained some, but not all, significant risks and rew'ards of 0.nershIp, h&s trdnsferred control of the asset to another party. Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires. Fair value measuremenl The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable. the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is nol active and recent transactions of an identical asset oi) their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique. 3 Income from donations and legacies Total 2023 Total 2022 Donations and legacies. Donations from individuals 110 110 Page 27
Bruiser Theatre Company Notes to the Financial Statements for the Year Ended 31 March 2023 4 Income from charitable activities Unrestricted funds Restricted funds Total 2023 Total 2022 General Charilable Activities Box Office & programme sales 17,957 14,012 197,550 215,507 46,397 95,482 24,410 ?29,9J5 261,904 119,892 5 Expenditure on raising funds a) Costs of generating donatlODs and legacies Unrestricted funds Restricted funds Tot21 2023 Total 2022 General Note Marketing and publicity 2.133 2.197 1,150 Total 2023 6 Expenditure on charitable activities Unrestricted funds Restricted funds Total 2023 Total 2022 General Note Box Office & programme sales Staff costs Allocated support costs Governance costs 14,261 50,579 105,611 64,840 105,611 26,424 60,785 45,257 20,268 2,835 41 185,804 200,106 129,145 Page 28
Bruiser Theatre Company Notes to the Financial Statements for the Year Ended 31 March 2023 7 Analysis of governance and support Costs Charitable activities expendilure Restricted funds Total 2023 Total 2022 Basis of allocatio Rent & Rates Telephone & Inten)et Printing, Postage & Stationery Legal & Professional Insurance Access Nl Membership & Subscriptions Software & IT Costs Depreciation Staff Welfare Bank Charges Advertising Travel costs Sundry Expenses Repairs & Maintenance 6.965 .419 281 2.000 ,974 41 6,965 1,419 ?81 2,000 ,974 41 3,540 1,286 2,025 2,682 1,527 180 2,08) 7.500 272 (69) 1,115 1,669 180 2,083 7,500 272 280 1,438 6,988 285 217 (69) 1,115 1,669 951 951 26.424 26,424 20,268 Governance costs Restricted funds Total 2023 Total 2022 Independent examiner fees Examination of the financial slalements 2,835 2,835 Page 29
Bruiser Theatre Company Notes to the Financial Statements for the Year Ended 31 March 2023 8 Staff costs The aggregate payroll cosls were as follows.- 2023 2022 Staff cosls during the year were: Wages and salaries Social security costs Pension costs 98,980 4,204 2.427 44,089 1,168 105,611 45,257 The monihly average number of persons (including senior management team) employed by the charity during the year expressed as full time equivalents was as folloH's= 2023 2022 Staff No employee received emoluments of more than £60,000 during the year. 9 Independent examiner's reTnuneratioD 2023 2022 Examination of the financial statements 2,835 Page )0
Bruiser Theatre Company Notes to the Financial Statements for the Year Ended 31 March 2023 10 Taxation The charity is a registered charity and is therefore exempt from tsxation. I l Tangible fixed assets Furnilure and equipment Total Cost At l April ?022 Additions i5.178 2.562 35,178 2.562 At J l March 2023 Depreciation At l April 2022 Charge for the year 11,165 7,500 11,165 7,500 At 31 March 202J 18,665 18,665 Net book value At J l March 2023 19,075 19,075 At J l March 2022 24,013 24,013 12 Debtors 2023 2022 Trade debtors Prepayments 5,66) 1,001 5,455 6,664 6,858 13 Creditors: amounts falling due within one year 2023 2022 Trade creditors Other taxation and Sla[ security Other creditors 2,104 2,467 3,952 12,808 26,077 Page)I
Bruiser Theatre Company Notes to the Financial Statements for the Year Ended 31 March 2023 14 Pension and other 5cheme5 Defjned contribution pension scheme The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £2.427 (2022 - £1,168). 15 Funds Balance at 31 March 2023 Balance at I April 2022 Incoming resour¢es Resources expended Transfers Unrestricted funds General {17,118) ()1,969) 14,366 86 (34,635) Designated {70,479) (70,479) Total unrestricled funds {87,597) (J1,969) 86 (105,114) Restricted funds {J7,?61) (230.04J) 187,937 (86) (79,456) Total funds (1?4.861) (?6? 012) 202,30J {184,570) Balance at 31 March 2022 Balance at I April 2021 Incoming resources Resources expended Transfers Unrestricted funds General {84,643) (8.850) 5,897 70,479 (17,117) Designated (70,479) (70,479) Total unrestricled funds {84,64)) (8,850) 5,897 (87,596) Restricted funds (43,849) (117.813) 124,398 (37,2fv1) Total funds (128.492) (126.66)) 1)0.295 {124,860) 16 Analysis of net assets between funds Page )2
Bruiser Theatre Company Notes to the Financial Statements for the Year Ended 31 March 2023 Unrestricted fuDds Restricled funds General Designated Total funds Tangible fixed assets Current assets Current liabilities 2.174 45,270 (1? 808) 16,901 62,554 19,075 178,30J (1? 808) 70,479 Total net assets 70,479 79,455 184,570 17 Analysis of net funds At31 March 2023 At l April 2022 Cash flow Cash at bank and in hand 120,066 51,573 171,639 Net debt 120.066 51,573 171,6J9 Page ))