Irwin Donaghey Stockmon Company Registration No. N1022539 (Northern Ireland} BIG TELLY THEATRE COMPANY ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Irwin Donaghey Stockman LLP Chartered Accountants 23125 Queen Street COLERAINE Co Londonderry BT52 18G CHARTERED ACCOUNTANTS IHi.LAND
Irwin . Donaghey Stockrnon BIG TELLY THEATRE COMPANY CONTENTS Page Legal and administrative information Statement of Members, responsibilities Members, report Independent auditor's report Statement of financial activities 11 Balance sheet 15 Notes to the financial statements 12-20
Irwin . Donaghey Stockman BIG TELLY THEATRE COMPANY LEGAL AND ADMINISTRATIVE INFORMATION Members Mr Tony Hennessey {Tre2surer) Ms Christine Hurd-wood Ms Gerda King Ms Cara Macmahon Dr Tom Maguire (Chairl Ms Rosana Trainor Ms Claire Sugden Ms Alison Grundle Secretary Mrs C O'Donovan Charity number NIC102334 Company number N1022539 Registered offlce Flowerfield Arts Centre 185 Coleraine Road PORTSTEWART Co Londonderry BT55 7HU Auditor Irwin Donaghey Stockman LLP 23125 Queen Street COLERAINE Co Londonderry BT52 1 BG Bankers Danske Bank 22 The Diamond COLERAINE Co Londonderry BT52 1 DE
Irwin Donaghey Stockman BIG TELLY THEATRE COMPANY STATEMENT OF MEMBERS. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2022 The Members, who are also the directors of Big Telly Theatre Company for the purpose of company law, are responsible for preparing the Members, Report and the accounts in accordance with applicable law and Uniled Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi1. Company Law requires the Members to prepare accounts for each financial year which give a true and fair view of the state of affairs of the Company and of the incoming resources and appliGation of resources, including the income and expenditure, of the charitable company for that year. In preparing these accounts, the Members are required to.. select suitable accounting policies and then apply thern consistently., observe the methods and principles in the Charities SORP- make judgements and estimates that are reasonable and prudent- and prepare the accounts on the going concern basis unless it is inappropriate to presume that the company will continue in operation. The Members are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enab5e them lo ensure that the accaunls comply with the Companies Act 200$. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Disclosure of Infomiation to Auditors The directors who held office at the date of approval of this directors, report confirm that, so far as they are each aware, there is no relevant audit information of which the company's auditors are unaware, and each director has taken all the steps that they ought to have taken as a director to make themselves aw2re of any relevant audit information and lo establish thal the company's auditors are aware of that information.
Irwin - Donaghey Stockman BIG TELLY THEATRE COMPANY MEMBERS. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2022 The trustee's present their report and financial statements for the year ended 31 March 2022. The accounts have been prepared in accordance with the accounting policies set out in note to the accounts and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 2015)" Objectives and Activities Big Telly Theatre Company is one of the longest standing theatre companies in Nl. Our work is centred around theatre, game, technology, and place. We design professional tlieatre productions, site specific, live experiential art, immersive games, and participatory community driven projects, throughout Northern Ireland and internationally, With work spanning over 30 years. the company has a reputation for innovation and accessibility. We work across sectors, using arts to deliver objectives for health, education, heritage, tourism, economic development, social development. rural development and town and city regeneration. As a company, we seek lo innovate how and where culture is made and performed and how theatre can be used as a tool to regenerate and serve the community lo create long term impact. Our work is mulli-platform and cross-sectoral, fueled by a belief in the intrinsic value of arts praclice and its potential lo deliver a range of educational, economic, and social outcomès. Influences in our work to date inclLtde, gaming and escape roonis, computer hacking, burner phones, Al, AR, emotional computing, and binaural SOLind. The company's range and scale of work is unparalleled, with its reputation for innovation built upon distinctive professional theatre productions which tour nationally and internationally,. creative collaborations., and pioneering community-based participation projects. Big Telly is one of the largest theatre employers in N. Ireland, and a typical annual programme of work includes onellwo original theatre productions which tour nationally. including a variety of productions and workshops, an ongoing Creative Shops Programme (now in its sixth year) including up to fifty workshopslperformances in three - four different locations each year, at least three community-based events, projects with local schools and two three collaborations with the business community. Over the last ten years we have reached audiences totalling c. 96.650 through our touring productions and c. 46,000 participants through our oulrea¢h and educational programmes. The company is extremely proud of its regional identity. and our programme of work ref5ects a continuing commitment to the local area combined with the ambition and capacity to extend our work within the global market, becoming ambassadors for the skills and creativity of Northern Ireland and placing it firmly on the world stage We worked with 157 creative personnel last year across art forms, equating to 240 freelance employment weeks wlth an additional 225 freelance employment days. 21122 freelance artists fees lotalled £170,500. We commissioned 7 writers, staged 7 pieces of new work, facilitated 9 student internships and 1 paid internship 5UPPOrted by Leche Trust Fund, which focused specifically on worklng with a gradualelemerging artist at a disadvantage due lo their course being affected by the global pandemic. Whilst also creating projects for new artists to learn frorn experienced practitioners through our games, shops and workshops supporting our emerging and associate artists, a two day workshop for Remote Control with 10 new writers, 2 technicians and 2 actors, and a two days of open workshops where we met 40 new artists. As we11 as rnentoring across Ireland with companies such as Three's Company and Btu Theatre. We have also used our international partnerships lo provide opportunities to artists from here to work oulslde Nl - Paper Birds {Gavin Pedenl,Departmenl Story, US {Chris Robinson). numerous actors and stage managers facilitating workshops with Royal Conservatoire Scotland and Alfred University, NY. The volume of our work makes it possible and necessary for us to offer freelancers creative autonomy and leadership roles. For best practice, we follow ITC guidelines on the remuneration of artists and include all holiday pay and expenses as per that guidance which is updated annually.
Irwin . Donaghey Stoclmon BIG TELLY THEATRE COMPANY MEMBERS, REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2022 Partnership working continues lo be a key strategy for us this year with a focus on creative collaborations and cross sectoral work in regenerational and post conflict contexts. Creative partnerships in 21122 included BIAF. Elf Factory, with Belfast City Council and the final year of our Creative Shops Projects, with Mid and East Antrim, The Captain's Feast with Magheramorne Estate, Tourism Nl and Place Solutions, Right Up Your Street with Drogheda Arts Festival and Eargail Arts Festival. Small Worlds 8allycastle with Causeway Museum Service. The House with Eastside Arts, Feile an Phobail and Commission for Victims and Survivors. We formalised our partnership with the national Fun Palaces campaign in 2019 which secured the post of Nl Ambassador for three years with possible extension until 2024. As part of our service level agreement with Causeway Coast and Glens BC, with projects such as Incognito and The Captain's Feast, we deliver arts and cultural experiences across the borough through our annual programme of work. Other significant partnerships included Future Screens Nl, Deutsches Museum, Scaffold Digital, Blue Monkee, Radius Housing, Colliers Estate Agents, British Telecom, Queen's University, In Place ofwar, Alfred University, NY. We also have an ongoing strategic partnership with Dormant Accounts over the next two years to test and develop Brick Moon. In 21122 our highly successful Creative Shops Project ran its final year of its 3-year funded programme. Thi5 project has enabled us to develop genuine and sustainable engagement with communities, replacing consultation with dialogue and paving the way for more inclusive, meaningful participation. The programme has also helped us increase our partnerships with Business Improvement Districts and Economic and regeneration agencies across Nl. Company Mission To invest in the development of professlonal theatre, theatre ski15s and creative expression through theatrical experiences that surprise, stimulate and entertain. Company Vision Big Telly aim5 to innovate, involve, inspire. excite, and ignite the imagination through the company's design, delivery,production, touring and training activities. Big Telly's vision is delivered through the following objectives.. 1. the production and touring of innovative theatre that surprises, stimulates and ignites the imagination throughout Nl, Rol, mainland UK and Internationally. 2. the creation of projects with unique strategies of engagement with audiences., with a particular focus on hybridldigital engagement tools. 3 the development of educational and outreach programmes, open rehearsals and community creativity projects, through workshops, talks and summer schools. 4. the facilitation of the growth of cultural activity throughout Nl and to actively seek opportunltles to showcase Nl work abroad. 5. the delivery of skills enhancement opportunities. 6. maximising the resources available for work through enhancing existing and developing new partnerships. 7. developing the capacity of the company lo meet the challenges of a changlng environment.
Irwin - Donaghey Siockman BIG TELLY THEATRE COMPANY MEMBERS. REPORT {CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2022 The outcomes achieved to date have been: More people are engaged by the arts through access lo new cultural experiences. Increased employment Direct industry impact through creating toolkits and digital communication Increase in audiences More global partnerships Transforming our work digitally through a pandemic to make the company more sustainable and improve audience growth. Key messages communicated to a wider audience,. connections made with new people. Re-animation of town centres. Development of cultural tourism. Better community cohesion and increased tolerance. A more positive, harmonious. and imaginative society. 202112022 ProductionslProJects Ballycaslle Smallworld5 - June 2021 The House- July 2021 Incognito Annagh - July 2021 Right Up Your Street DonegallDundalk - Aug 2021 Department Story- Oct 2021 Elf Factory- NovlDec 2021 Carrickfergus Story Cafe - Jan 2022 Living Map- Feb 2022 Ballymena Bear Hospital - Feb 2022 The Captain's Feast Magheramorne - Feb 2022 Dear Life- Mar 2022 Incognito Portrush - Mar 2022 Bridge of Stories (Prep) - Mar 2022 Brick Moon- ongoing Remote Control ongoing Outreach Projects Fun Palaces 202012021 ProductionslProjects Tempest- Digital, Co-production with Creation Theatre Company- MarlApr 20 Operation Elsewhere - Digital, Belfast Children's Festival - Apr/May 20 Little Telly (online live venue and site specific) - May 20 The Machine Slops Digital - May 20 Alice 'A Virtual Theme Park, Digital, Co-production with Creation Theatre Company and Charisma Al - Jull Aug 20 Macbeth - Digital. Belfast International Arts Festival - Oct 20 Right Up Your Street Portrush - Oct 20 Dear World- Digital - Nov 20 Recipe for Disaster- Janlmar 21 Right Up Your Street- Garvagh Site Specific- Mar 21 Paddys Weekend Kitchen- Digital - Mar21
BIG TELLY THEATRE COMPANY . Donaghey . Stockman MEMBERS, REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2022 Structure, governance and management Big Telly Theatre Company is limited by guarantee and registered with the new Charity Commission for Northern Ireland (NIC1023341, govemed by a Board of Trustees.. Tom Maguire (Chairl, Senior Lecturer in Theatre Studies at the University of Ulster., Chris Hurd-wood, retired HR Development Professional,- Cara Macmahon, CEO of Voluntary Action North Somersel; Gerda King, freelance Communications Consultant.. Rosana Trainor, Charity Shop Coordinator., Tony Hennessey, Accountant., Ms. Claire Sugden MLA.. Ailson Grundle Business Improvement Consullanl. Crissy O Donovan is the Company Secretary. The company's board provides relevant expertise in human resources, marketing and PR, finance, contemporary and cultural theatre practice as well as relevant strategic and planning skills. The company's full-time staff are Company Manager (Crissy O Donovan), Project Manager (Linda Mccracken), Finance Manager (Collette Quigley}, who together with the Artlstic Director (Zoè Sealonl oversee the running of the entire artistic programme. Between them, these company members have over fifty years of experience in managing arts projects. The company has Ethical Manager Status and is a member of the Independent Theatre Council IITC) and of Theatre Nl. The company operates ITCIUNITE and ITCIEquity mlnimum rates. terms and conditions for both permanent and contractual staff. The company has regular staff meetings involving the entire staff team. The core staff report to the Board of Trustees at quarterly meetings. The company regularly reports lo ACNI and other funders on its progress through Mid-year and End of Year Client Reports and quarterly monitoring meetings with our Arts Officer. Dr. Tom Maguire, Senior Lecturer in Theatre Studie5 at the University of Ulster regularly monitors progres5 on funding applications and their administration The organisation follows the Charity Commisslon's guidance and sets a target for reserves based on our cash flow requirements and an assessment of the risks facing the organisation. Our aim is to hold reseNes at a level which is not excessive bul does not put our solvency al risk. The trustees review the number of reserves that are required to ensure that they are adequate to fulfil the charity's continuing obligations on a quarterly basis at their Board meeting. We hold reserves for the following reasons: Meet contractual liabilities should the charity have to close including redundancy pay, amounts due to creditors and commitments under leases. To meet unexpected costs like breakdown of essential office equipment,. staff cover in the event of illness, rllaternity leave, parental leave,. and legal costs defending the charity's interest. To ensure that the charity can continue to provide a stable and quality programme of activity and allowing for financial flexibility to respond to new initiatives and opportunities that may preserit themselves during the year. To fund risks that may malerialise, resulting in an unexpected increase in expenditure andlor a reduction in income. To provide working capital when funding is paid in arrears and place the charity in a positDn where it could apply for funding which can be paid up to 12 months in arrears. The trustees aim to rnaintain the charity's reserves at a level which is at least equivalent to two months operational expenditure Icirca £20,000) in addition to designating a minimum of £13,500 lowards potential redundancy outlay in the event of the company having to cease operations and have done SD having regards to its manner of operation of likely funding streams. The reserves that we have set aside provide financial stability and the means for the development of our principal activity. On 31 March 2022 the charity held £23,249 as reserves (2021 £20,000). In the event of reserves dipping below the target the charity will aim lo restore the reserves to ils minimum level over a four-year period through increased fLJndraising, increasing earned income andlor reducing expenditure. If reserves exceed the target, then the charity will consider the likely expenditure over the next two years. Auditor
Irwin - Donaghey Siockrllan BIG TELLY THEATRE COMPANY MEMBERS, REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2022 In accordance with the company's articles, a resolution proposing that Irwn Donaghey Stockman LLP be reappointed as auditor of the company will be put at a General Meeting. The Members, report was approved by the Board of Members. T Maguire T Hennessey Dated.. 21 September 2022
Irwin Donaghey Stockman BIG TELLY THEATRE COMPANY INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BIG TELLY THEATRE COMPANY Opinion We have audited the financial statements of Big Telly Theatre Company Ilhe 'company'l for the year ended 31 March 2022 which comprise the staternent of financial activities, the balance sheet and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion. the financial stalemenls.. give a true and fair view of the stale of the charitable company's affairs as at 31 March 2022 and of its incoming resources and application of resources, for the year then ended., have been properly prepared in accordance with United Kingdom Genèrally Accepted Accounting Practice., and have been prepared in accordance with the requirements of the Companles Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditoffs responsibilities for the audit ol the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Stsndard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements. we have concluded that the Members, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubl on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Members with respect to golng concern are described in the relevant sections of this report. Other information The other information comprises the inforrnation Included in the annual report other than the financial statements and our auditor's report thereon. The Members are responsible for the other infonnation contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other infomiation and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or olhewise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report thal fact. We have nothing to report in this regard. Matters on which we are required to report by exceptlon We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 require us to report to you if, in our opinion.. the information given in the financial statements is inconsistent in any material respect with the Members, report., or sufficient accounting records have not been kept., or the financial statements are not in agreement with the accounting records.. or we have not received all the information and explanations we require for our audit.
Irwin . Donaghey Stockman BIG TELLY THEATRE COMPANY INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE MEMBERS OF BIG TELLY THEATRE COMPANY Responsibilities of Members As explained more fully in the statement of Members. responsibilities, the Members, who are also the directors of the company for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Members determine is necessary to enable the preparation of financial statements that are free from material mi55tatement, whether due lo fraud or error. In preparing the financial slatemenls, the Members are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, mallers related to going concern and using the going concem basis of accounting unless the Members either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilltles for the audlt of the flnancial statements We have been appointed as auditor under section 65{21 of the Charities Act (Northern Ireland) 2015 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error. and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstaternent when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularttie5, including fraud, is detailed below. Our approach to identifying and assessing the risk5 of material misstatement in respect Df irregularities including fraud and non-compliance with laws and regulations, was as follows.. we identified the laws and regulations applicable to the charity through discussions with trustees and other management, and from our commercial knowledge and experience of the sector., we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence. We asse55ed the susptIbilItY of the charity's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: making enquiries of management as to where they considered there was susceptibility to fraud, Ihejr knowledge of actual, suspected and alleged fraud., considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations., and performing analytical procedures to identify any unusual or unexpected relationships., reviewing journal entries lo identify unusual transactions- assessing whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias, investigating the rationale behind any significant or unusual transactions. In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited lo.. agreeing financial statements disclosures to underlying supporting documentation., reading the minutes of meetings of those board of trustees.. enquiring of management as to actLAal and potential litigation and claims., reviewing legal correspondence. There are inherent limitations in our audit procedures described above. The more removed laws and regLtlations are from financial transactions. the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations lo enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
Irwin . Donaghey Stockmon BIG TELLY THEATRE COMPANY INDEPENDENT AUDITOR'S REPORT ICONTINUED) TO THE MEMBERS OF BIG TELLY THEATRE COMPANY A further description of our responsibilities is available on the Financial Reporting Council's website at.. https'.11 www.frc.org.uklaudilorsresponsibilities. This description forms part of our auditor's report. Use of our report This report is made solely to the charitable company's trustees. as a body, in accordance with Parl 4 of the Charities (Accounts and Reports) Regulations 2015. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required lo slate to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charilable company's trustees as a body, for our audit work, for Ihis report. or for the opinions we have formed. This report is made solely lo the company's members. as a body, in accordance with section 391 of the Companies Act 2006. Our audit work has been undertaken so that we might stale lo the company's members those mallers we are required to slate to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a for our audit work. for this report. or for the opinions we have formed. Dall (Senior Statutory Audltor Irwin Donaghey Stockman LLP 23125 Queen Street COLERAINE Co Londonderry BT52 1 BG 21 September 2022 10-
Irwin - Donaghey Stockman BIG TELLY THEATRE COMPANY STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOW.tE AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2022 Unrestricted Unrestricted Restricted funds funds funds general deslgnated 2022 2022 Total Total 2022 2022 2021 Notes Income and endowments from: Donations and grants Other trading activities Investrnents Other income 309,350 56,720 309,350 56,720 503 334,690 46,715 528 693 503 Total income 503 366,070 366,573 382,626 Raising funds 4,025 4,025 2,785 Charitable activities 1,625 355,028 356,653 360.813 Total resources expended 5,650 355,028 360,678 363,598 Net {expenditure)lin¢ome for the yearl Net movement in funds {5.1471 11,042 5,895 19,028 Net {expenditurellincome for the yearl Net movement In funds (5,1471 11,042 5,895 19.028 Fund balances al 1 April 2021 24,735 15,776 75,078 115,587 96,557 Fund balances at 31 March 2022 19,588 15.776 86,118 121,482 115.583 The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. 11
Irwin - Donaghey Stockman BIG TELLY THEATRE COMPANY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Accounting policies Charity information Big Telly Theatre Company is a private company limited by guarantee incorporated in Northern Ireland. The registered office is Flowérfield Arts Centre, 185 Coleraine Road. PORTSTEWART, Co Londonderry, BT55 7HU. 1.1 Accounting convention The financial statements have been prepared in accordance with the company's Igoverning documentl, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland, (°FRS 102"} and the Charities SORP "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 102)" leffeclive 1 January 2019). The company is a Public Benefit Entity as defined by FRS 102. The company has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going concern The trustees have recognised and acted upon the impact sustained in 2020 due to the Covid-19 pandemic and have reviewed the potential impact going forward into 2022 and beyond. The trustees are of the opinion that they have adequate resources to see the charity through this difficult period and continue in operational existence for the foreseeable future. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the Members in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial slalements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the company. 1.4 Income Income is recognised when the company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. other donations are recognised once the company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation lo donations received under Gift Aid or deeds of covenant is recognised al the time of the donation. Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes. 12-
Irwin - Donaghey Stockman BIG TELLY THEATRE COMPANY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Accounting poll¢ies (Continued) 1.5 Expendlture Liabilities are recognised as expenditure as soon as there is a legal or constru¢tjve obligation committing the Company lo that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognisèd so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Plant and machinery Office equipment stage Equipment 25 % straight line 25 % straight line 250/tt Straight line The gain or loss arising on the disposal of an asset is detemiined as Ihe difference betseen the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial a¢livilEs. 1.7 Impairment of fixed assets Al each reporting end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. ff any such indication exists. the recoverable amount of the asset is estimated in order to detemine the extent of the impairment l oss lif any). 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.9 Flnancial instruments The company has elected to apply the provisions of Section 11 'Basic Financial Instrurnenls, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of ils financial instruments. Financial instruments are recognised in the Company's balance sheet when the company becomes party lo the conlraclual provisions of the instrument. Financial assets and liabilities are offset. with the net amounts presented in the financial statements, when there is a legally enforceable right lo set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneous5y. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement conslitules a financing transaction, where the transaction is measured at the present value of the fulure receipts discounted al a market rate of interest. Financial assets classified as receivable within one year are not amortised. 13-
BIG TELLY THEATRE COMPANY Donaghey . Stockman NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Accounting policies (Continued) Impairment of financial assets Financial assets, other than those held al fair value through income and expenditure, are assessed for indicators of impairment at each reporting dale. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss Is recognised in net incomel{expenditurel for the year. If there is a decrease in the Impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in net incomel(expenditurel for the year. Derecognitlon of financlal assets Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of owneiship to another enlily, or if some significant risks and rewards of ownership are retained bul control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction pri unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest Financial liabilities classified as payable within one year are not amortised. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabillties Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled. 1.10 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to lerminale the employment of an employee or to provide termination benefits. 1.11 Retirement benefits Payments lo defined contribution retirement benefit schemes are charged as an expense as they fall due. 14-
BIG TELLY THEATRE COMPANY - Donaghey iJ< Stockman BALANCE SHEET AS AT 31 MARCH 2022 2022 2021 Notes Flxed assets Tangible assets Current assets Debtors Cash al bank and in hand 11 17,627 5,553 12 57,628 200,404 28,611 150,558 258,032 179,169 Creditors: amounts falling due within one year 13 (154,177} (69,1371 Nel current assets 103,855 110,032 Total assets less current liabilities 121,482 115,585 Income funds Restricted funds Unrestricted funds - designated Unrestricted funds - general 86,118 15,776 19,588 75,074 15,776 24,735 121,482 115,585 The company is entitled lo the exemption from the audit requirement contained in section 477 of th e Companies Act 2006, for the year ended 31 March 2022, although an audit has been carried out under section 65 of the Charities Act (Northern Ireland) 2013. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these accounts under the requirements ofthe Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the Members on 21 September 2022 T Maguire T Hennessey Company Registration No. N1022539 15-
Irwin - Donaghey Stockman BIG TELLY THEATRE COMPANY BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2022 Donations and grants Unrestricted Restrlcted funds funds Total 2022 Total 2021 Donations and grfts Grants receivable 60 334,630 309,35Q 309,350 309,350 309,350 334,690 For the year ended 31 March 2021 60 334,630 334,690 Grants receivable for core activities ACNI Revenue Grant ACNI Other Grants Esmee Fairbairn Foundation The tr4alifax Foundation Causeway Coast & Glens Borough Council Fun Palaces Innovate UK Allianz Arts & Business Nl Award National Heritage The Comrnission of Victims & Survivors Future Screens R&D British Council Garfield Weston Foundation University of Ulster- Future Screens The Foyle Foundation The Leche Trust 1138,4861 1138,486} 18, 5881 (8,5881 110,0001 {10.000} {211,401) (31 ,6801 (18,333) (10,000) 11,2911 114,0401 17,200) 114,240} 124.9361 19001 (7,2001 {14,240) {24,936) {900) 11,500} (10,0001 (19,6351 13,7501 13,0001 110,0001 (12,0001 112,000) (20,0001 (15,0001 (10.0001 11,6501 120,000) 115,000) 110,000) (1,650) 1263,000) (263,0001 334,630 Other tradlng activities 2022 2021 Perforrnance and Workshop fees 56,720 46,715 Investments 2022 2021 Interest receivable 503 528 16-
BIG TELLY THEATRE COMPANY . Donaghey Stockman BALANCE SHEET {CONTINUED> ASAT31 MARCH 2022 Other income Total Unrestrlcted funds general 2021 2022 Sundry income 693 Charitable activities Charitable Charitable Expenditure Expendlture 2022 2021 Staff costs Rent Insurance Light and heat Props, sets and Costumes Printing and stationery Telephone and postage Motor expenses Travel and accommodation Publicitylpromotional work Hire of equipment and rehearsal space Sundry expenses Fees and subscriptions Bank charges 101,557 4,776 3,174 302 25.079 1,329 3,406 3.382 26.682 5.974 5.820 2.825 170.585 137 74,787 5,506 3,036 286 10,222 738 2,977 2,828 3,076 1,246 4,487 2,915 246,917 242 355,028 359,263 Share of governance costs (see note 8) 1,625 1,550 356,653 360,813 Analysis by fund Unrestricted funds - general Restricted fund5 1,625 355,028 1,550 359,263 356,653 360,813 Raising funds 2022 2021
Irwin . Donaghey Stockman BIG TELLY THEATRE COMPANY BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2022 Ralslng funds (Continued) Tradin costs Depreciation and impairment 4,025 2.785 4,025 2,785 Support costs Support Governance costs costs 2022 Support Governance costs costs 2021 Audit fees 1,625 1,625 1,550 1,550 1,625 1,625 1,550 1,550 Analysed between Charitable activities 1,625 1,625 1,550 1,550 Governance costs includes payments to the auditors of £1 ,625 {2021- £1,550) for audit fees. Members None of the Members {or any persons connected with them) received any remuneration or benefits from the company during the year. 10 Employees The average monthly number of employees during the year was.. 2022 Number 2021 Number Employment ¢0Sts 2022 2021 Wages and salaries Social security costs Other pension costs 95,631 5,511 415 69,709 4,708 370 101,557 74,787 There were no employees whose annual remuneration was more than £60,000. 18
Irwin . Donaghey BIG TELLY THEATRE COMPANY Lr< Stockman BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2022 11 Tangible fixed assets Plant and machinery Office equipment Stage Equlpmgnl Total Cost At 1 April 2021 Additions 5,380 20,140 15,361 31,267 738 56,787 16,099 At 31 March 2022 5,380 35,501 32,005 72,886 Depreclation and impairment At 1 April 2021 Depreciation charged in the year 5,380 15,665 3,840 30,189 185 51,234 4,025 At 31 March 2022 5,380 19,505 30,374 55,259 Carrying amount At 31 March 2022 15,996 1,631 17,627 At 31 March 2021 4,475 1,078 5,553 12 Debtors 2022 2021 Amounts falling due within one year: Trade debtors Other debtors 21,744 35,884 5,382 23,229 57,628 28,611 13 Creditors: amounts falllng due within one year 2022 2021 other creditors Accruals and deferred income 6,234 147,943 7,075 62,062 154,177 69,137
Irwin . Donaghey BIG TELLY THEATRE COMPANY u4 Stockman BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2022 14 Analysis of net assets between funds Un restrlcted Unrestricted Restricted general designated 2022 2022 Total Total 2022 2022 2021 Fund balances al 31 March 2022 are represented by.. Tangible assets Current asselsl(liabilities) 17,627 103,855 17.627 103,855 5.553 110,032 121,482 121,482 115,585 15 Related party transactlons There were no disclosable related party transactions during the year12021 none). -20-