WATERSIDE THEATRE COMPANY LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2021 The Trustees present their report and financial ststements for the year ended 31 March 2021. The aountS have been prepared in accordance the accounting policies set out in note 1 to the accounts and comply with the chativs goveming document, the Companies Act 2006 and 'Accounling and Reporting by CharTties." Statemerrt of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Iretand (FRS 1021 (effective 1 January 20151° Objectives and activities Our Ifision, Mission and Values Waterside Theatre Cornpany Limited prowdes arts based programmes of performance, educational and community development activity for people of all ages and abilities, impacting bcalty and regionalty throughout IrelandlUK and internation811y. Ourvision We aim to place the arts at the heart of Londondery's regeneration. We are committed to challenge. to innovation and to growth and as such have a strategic role as a key cultural facilty in one Df the UK'S most dynamic cities. The vision of Waterside Theatre Company is.. 'To provide one gf Northern Ireland's leading centres fDr the arts.- The Company's Vision, Objectlves and Core Values drive our goals, aspirations and artistic pollGy. Our Mission Waterside Theatre COpanY Limited has adopted the following mission statement in accordan wth its airns, Dbjectives and constitutional status.. 'To make high quality arts accessible to everyone." Our Values All our worf( is driven by our core valuès.. Achieve artistic quality and excellence in all that we do. Serve the whole community. including people who are not regular or commtited arts attenders as well as our loyal audiences. Offer equ81 oppurbjnities for all to benefit from what we have to offer. Have good links locally with 811 groups in the community, reaching people through off-site wort< as well as through venue based work. meeting the needs of many different interest groups arsd different age groups. Have excrternent and energy, experiment and be innov8te, willing to take risks. Give pr8Ctttioners the opportunities and the ¢iTGumstsnces in which their prof&ssional WO can develop. Nurture asts and encourage original contributions to the practice of their artforms. Promote a breadth of cullurèl range and forms. Develop contemporary and intemational links, as beffts an ourd looking company which thinks differently, embra evolution and ehampions change. Be culturally inclusive as well as socially inclusive. Flave a positive impact on people's atbludes, expectations and understanding, through community projects, outreach programmes and both fomial and informal education work. Help people explore and develop their cuhural understanding. Provide the best possible customer service, because we know that our audience's expectstions are high and rising and that we must meet their needs and compete effectively wth other cuftural and leisure choices if we are to deserve people's loyatty.
WATERSIDE THEATRE COMPANY LIMITED TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2021 The Trustees have paid due regard to guidance issued by the Charity Commission in deGiding what activities the charity should undertake. Achievements and performance All theatre and arts venues in th8 UK were ordered lo close on 16th March 2020 becaus8 of the Coronamrus pandemic. We were initially lead to believe that this would be for a period of three weeks but as time went on this extended into six months. Just as we w8re preparing to open again in October, the government announced a sewnd lockdown and we were once again forced lo dose and were not peYmFtted to reopen before the end of this financial year. In response to lockdown and being unable lo work with our partner organisations and partiapants in their community settings we quickly developed and introduced a nurnber of weekly virtual workshops for trial online. We were awarded funding from Community Foundation Nl lo njn the workshops over 10 weeks from mid- April. Demand for these was oVehelmIng - we had 82 people sign up for art classes including pupils from three njral and Urban schools in high ranking super output areas ISOAS). 22 pupils from Omagh Academy (a school we had previously never worked with) for creative writing for young people. 15 more for creative writing for adults. 22 young people registered for mixed art classes writh music 2nd drama, 16 children engaged in public Jo Jingles classe5 and 15 more wtth private classes for SLrreStart, 15 young people worked on peer Issues with our resident Ulidian Youth Drama Group and 90 older people living in three residential care homes enjoyed various arts and crafts vtrtual workshops. The pilot programtne of virtual workshops was so successful that we were awardecl further funding from Community Fund Awards For AJI tg conlinue Ihese classes over the summer and into autumn. When restrictions ar8 lifted we wll reintroduce face4o-face acteS but maintain elements of this online activtty- We will continue to explore ways to provide opportunities for local children and young people to engage in fun, creative, educational experence5 in safe, nurturing settings, facilitsted by artists and companies With the highest reputation of delivering quality work in the ffelds of youth work and children's theatre. Financial review Total income for the year was £242,097 of which approximately 1000/0 was generaled from contracts and grants and oaio from donations, legacies and fundraising activities. Total expendtture was £207,180, 100Yo of this was expended on direct charitable activities. The balance Dn total funds al the year-end was £125,605 of which £84.788 was unrestricted in nature, £31,312 was designated in nature and £9,505 was restricted. Reserves Policy The TTUStees consider it pnjdent lo hold monies in reseTve in the event that unforeseen circumstsnces should lead to financial difficulties which might put the future of its employment capacity, users, well-being and general charitsble work in jeopardy. The Trustees have examined the chaws requirements for reserves in light of the main risks to the organisation and established a fomial policy which stipulates that free reserves be maintained at a level which ensures that ihe charity's core activity ctsuld continue during 8 period of unforeseen difficulty. Free SerVeS are defined by the Trustees as unrestrifjted income funds freely av8ilable for use as the charity so determines and thereby excludes any funds Gommitted. invested in tsngible fixed assets held by the chanty and restrict Dr designated funds. The TTUStees has assessed the major risks to whith the charity is exposed. 2nd are satisfiBd that systems are in place to mib'gate exposure to the major risks_
WATERSIDE THEATRE COMPANY LIMITED TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2021 Plans for the future In the year ahead, our plan5 will be very much dependent on the govemment's response to the ongoing Coronavirus pandemiG and the resthctions they place upon theatres and arts venues. However. we aim to continue to offer year-round activity for those most in need. That will involve using modem technology to deliver our work online and blend it with face-tface activities when permitted to do so. We intend to continue to expand our work in the community to provide access to facilities and sernrices $0 young people from ethnic minority backgrounds, young people from areas of disadvantage. people with disabilities and the eldedy, can derive the social, health and educational benefits that come from engagement in the arts. ructure. governance and management Goveming document Waterside Theatre Company Limited is a company limited by guarantee and accepled as charitsble by HMRC vnder reference XT 24141. The company was incorporated on 14th October 2010. The company was established under a Memorandum of Association which established the objerts and powers of the company, and is govemed by ils Artides of Association. The liability of members is limited in that every member of the company undertakes to contribute an arnount not exceeding £1 in the event of the company being wound up. The Trustees, who are also the directors for the purpose of company law, and whu served during the year and up to the date of signature of the finan¢i81 statements were.. Ms EJ Barber Mrs M Mulhem Mrs 8 Stevenson Mr B Dowdall Mrs J Mcmaster Ms M Keys Recruitment and appointment of the Trustees Under the requirements of the Memorandurll and Articles of AssocTation unless otherwise determined by the company in General Meeting the number of Tnjstees shall not be less Ihzn five. Trustees are elected to seNe only until the next Annual General Meeting at which they shall then be eligible for re-election. In the financial year no new Trustees were appointed and none resigned. The Board as a whote was approved by the AGM and continues lo monitor its membe¥ship. Risk Managempnt The Trustees are aware of the major risks to which the charty is exposed. Where approprlate. Systems or proureS have been established lo mitigate the risks the charity faces. Intem81 Control risks are minimised through the procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with applicable laws and regulation5. These procedures are reviewed periodically to ensure that they continue to rneet the needs of the charity. Organisation Structure The Board of Tru*ees consists of six members who administer the Gharity. The Trustees are responsible for the strategiG direction and poliw of the organisation. The Tnjstees are from a variety of profession81 backgrounds relevant to the work ofthe tharity. I members of the Board of Trustees give their time voluntarily and receive no benefits from the charity. Ary expenses reclaimed from the charity are set out in the notes lo the financial stalements. A scheme of delegetion is in place and responsibility for the provision of Servi rests with the Foundation's Executive Director. who is r&sponsible for the day to day operational management of the charity.
WATERSIDE THEATRE COMPANY LIMITED TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2021 Statement of Trustees. responsibiltties The Trustees. who are also the directors of Waterside Thealre Company Limited for the purpose of company law, are responsible for preparing the Trustees, Report and the accounls in accordance wth applicable law and United Kingdom A¢Gounling Standards (United Kingdom Generally Accepted AcGounting Pra¢ti¢e). Company Law requires the Trustees to prep8re 8ccounts for e8ch financial year which give a true and fair view of the stste of affairs of the charity and of the inGoming resources and application of resources, induding the income and expenditure. Gf the charitable company forthat year. In preparing these accounts, the TTUStees are required to.. - select suitable accounting policies and then apply them ¢DnsistenUy,' - observe the methods and prinapl&s in the Charities SORP.. - make judgements and estimates that are reasonable and prudent,. state whether applicable UK Accounting Standards have been followed, subject to any material departures disdosed and explained in the accounts- and prepare the accounts on the going concem basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping adequate accounting records that disdose wth reasonable accuracy 8t any b.me the financial position of the charity and enable them to ensure ihat the accounts cornply with the Companies Act 2006. They are alsD rgsponsible for safeguarding the assets of the charity and hence for taking re8sonable steps for the prevention and dete¢tion of fraud and other irregularities. The Trustees, report was approved by the Board of Trustees. Ms EJ Barber Trustee Dated.. 21 Dernber 2021