Charity reglstratlon number NIC105804
Company registratlon number N1602830 {Northern Ir8land}
WATERSIDE THEATRE COMPANY LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

WATERSIDE THEATRE COMPANY LIMITED
CONTENTS
Page
Charity Information
Trustees, report
Independent examiner's report
Statement of financial activities
Balance sheet
Notes to the financial statements
10-20

WATERSIDE THEATRE COMPANY LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Ms EJ Barber
Mrs M Mulhem
Mrs B Stevenson
Mr B Dowdall
Mrs J Mcmasler
Secretary
Miss M Wallace
Charity number
NIC105804
Company number
N1602830
Registered office
Waterside Centre
Glendermolt Road
Londonderry
8T47 68G
Independent examlner
m￿re (Nl) LLP
21123 Clarendon Street
DerrylLondonderry
BT48 7EP
Bankers
AIB Bank
Meadowbank
Strand Road
Derry-Londonderry
BT48 7TN
Sollcltors
Gillan. Barr & Co Solicitors
41 New Row
Colerain8
Londonderry
BT47 6BG

WATERSIDE THEATRE COMPANY LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 MARCH 2023
The Trustees present their annual report and financial statements for th8 year ended 31 March 2023.
Thè accounls have been prepared in accordance with the accounting policies set out in note 1 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 to charities preparing their accounls in accordance wlth
the Financial Reporting Standard applicabl8 in the UK and Republic of Ireland (FRS 102) (effective 1 January
2015)"
Objectlves and acllvltles
Our Vi51on, Misslon and Value5
Waterside Theatre Company Limited provides arts based programmes of performance, educational and community
development activity for people of all ages and abilities. impactlng locally and regionally throughout IrelandlUK and
Internationally.
Our Vision
We aim to place the arts at the heart of Londonderry's regeneration. We are committed lo challenge, to innovation
and to growth and as such have a slralegic role as a key cultural facility in one of Ihe UK'S most dynamic cities.
The vision of Waterside Theatre Company is:
"To provlde one of Northern Ireland's leadlng centres for the arts..
The Company's Vision, Objectives and Core Values drive our goals, aspirations and artistic policy.
Our Mlsslon
Waterside Theatre Company Limited has adopted the following mission statement in accordance with Its alms,
objectives and constitutional status..
"To make hlgh quallty arts accesslble to everyone."
Our Values
All our work is driven by our core values..
Achieve artistic quality and excellence In all that we do.
S8rve the whol8 community, including people who are not regular or committed arts attenders as well as
our loyal audiences.
Offer equal opportunilies for all to benefit from what we have to offer.
Have good links locally with als groups in the community, reaching people through off-site work as well as
through venue based work, meeting the needs of many different interest groups and different age groups.
Have excitement and &nergy, experiment and be innovative, willing to lake risks.
Give practitioners the opportunities and the circumstances in which their professional work can develop.
Nurture artists and encourage original contributions to the practice of Iheir artforms.
Promole a breadth of cultural range and forms.
Develop contemporary and international links. as befits an outward looking company which thinks
differently, embraces evolution and champions change.
Be culturally inclusive as well as socially inclusive.
Have a positive impact on people's attitudes. expectations and understanding. through community projects,
outreach programmes and bolh formal and informal education work.
Help people explore and develop their cultural understanding.
Provide the best possible Guslomer seNice, because we know that our audience's expectations are high
and rising and that we must meet their needs and compete effectively with other cultural and leisure
choices if we are to deseNe people's loyally.
Th8 Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the
charity should undertake.

WATERSIDE THEATRE COMPANY LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Achievements and performance
While the company continued to offer a wide variety of theatre and exhibition events for the general public, as we
emerged from Ihe Govid pandemic there was a more focused approach to our community arts participalory
programmes this year. Our goal was lo largel. through outreach work as well as in-house, those most in need in our
society and the people who had suffered most during the pandemic so that they could derive the well documented
education and health and welfare benefits from engagement in arts actNities.
Throughout the year, we continued to deliver a wide range of cultural and communily arts projects in partnershlp
with key stakeholder groups across the city and wider Northwesl region, including Dementia Nl, Alzheimer's Society,
Longfield Care Home, Greenfields Care Home, Nazareth House Primary School. Oakgrove Integrated Primary
School, St Therese's Primary School, Jubilee Primary School and Glendermott Primary School. Working in
parlnership with these organisalions we were able to creale. develop and deliver inspirational learning opportunities
lo those most in need in sociely including vulnerable adulls, those living in areas of high deprivation and interface
areas, young people and adults with disabilities and people from differenl political and religious backgrounds.
We delivered two terms of visual art workshops in the two care homes that directly benefilted 300 isolated older
people, one term of workshops in Omagh Library that benefilted 48 vulnerable adults living with Dementia, one term
of workshops in the five schools working with 1,050 primary school children on drama in educalion projects, as well
as a series of music and drama workshops in-house over three tems that engaged 2,308 children and young
people from disadvantaged backgrounds. In total between April 2022 and March 2023 we delivered 152 sessions,
engaging 3,706 of the most dlsadvantsged andlor marginalised members of society.
In Octob8r 2022 we launched 'Spread the Word, a multi-disciplinary. mulll-platform, multl-age. cross-communily
literary festival with the aim of highlighting the importance of reading, writing and literature. Through its emphasis on
divérsity and Inclusion, the festival engaged with all demographic ranges across the city, Northwest region and
beyond. Our Inaugural festival attracted over 1,150 people, tourists and locals, as audience members and
particlpants to the 35 events programmed over seven days and nights. The live and on-llne festival programme
Included talks wlth and readings by world-r8nowned writers. panel events. lectures, public reading events,
communlty reading events, schools and community workshops, LGBTQIA writing showcases, short fllm
presenlalions, Ilterary pub qulzzes, book launches, writing Competitions and writing masterclasses across various
genres. We drew on a wide range of writ8rs from different lit8rary areas - authors, illustrators, journalisls, poets,
playwrighls and songwriters. to inspire as wide an audience as possibl&. The festival also involved actors,
performance poe15, podcasters and puppeteers in the varied programme of events.
A further 100 plus theatre events showcasing high-quality children's thealre, drama. dance. music, comedy and film
events attracted audiences of over 15,750,. and over 8,000 visitors viewed our exhibitions in partnership with
Dementia Nl and world-renowned artist and illustrator PJ Lynch.
Going fO￿ard we will continue to explore ways to provide opportunities for local children, young people and older
people, with and without disabilities, lo engage in fun, crealive. educational experiences in safe, nurturing settings,
facilitated by artists and companies with the highest reputation in their fields.
Flnancial review
Total income for the year was £311,145 of which approximately 100% was generated from contracts and grants and
O /. from donations. legacies and fundraising actrvities. Total expenditure was £267,293. 1 OOVO of this was expended
on direct charitable aclivilies. The balance on total funds at the yearond was £198.153 of which £151,219 was
unreslricled in nature, £34.031 was designated in nature and £12.903 was restricted.
Reserves Policy
The Trustees consider it prudent to hold monies in reserve in the event that unforeseen circumstances should lead
lo financial difficulties which might put the future of its employment capacity. users, well-being and general charitable
work in jeopardy.
The Trustees have examined the charity's requirements for reserves in light of Ihe main risks to Ihe organisalion
and established a formal policy which stipulates that free reserves be maintained at a level which ensures that the
charity's core activily could continue during a period of unforeseen difficulty. Free reserves are defined by the
Trustees as unrestricted income funds freely available for use as the charity so determines and thereby excludes
any funds committed, invested in langible fixed assets held by the charity and restrtcted or designated funds.

WATERSIDE THEATRE COMPANY LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that system5 are in
place to mitigate exposure to th8 major risks.
Plans for future perlods
In the year ahead, we aim to continue to offer year-round activity for those most in need. We intend to continue lo
expand our work in the community to provide access to facilities and services so young people from ethnic minority
backgrounds, young people from areas of disadvantage, people with disabilities and the elderly, can defive the
social, health and educational benefits that come from engagement in the arts.
We plan lo develop 'Spread the Word. into an annual literary festival for the Northwest region, silting alongside other
tOUfisI attractions in Derry City and Strabane DistTicl Council's calendar of events. We believe Spread Ihe Word will
provide something unique in the region but complement the other rich cultural offerings. We plan lo continue to
develop ways lo excite readers ar)d writers of all ages and backgrounds by offering vibrant and exciting new
opportunities for social and cultural interaction as we celebrale the written word in all ils forms.
In 2024 we also plan to reintroduce a programme of events to develop new audiences for opera and ballet that we
were forced to pause due to the pandemic. We do not have ready-made audiences in the region for these art forms
but working in partnership with world renowned organisations, including Royal Opera House, we will provide local
people the opportunity lo experience productions of the very highest calibre. Our aim is to use the appeal of these
high-profile events lo break down barriers to engagement wilh opera and ballet. to develop a strong audience base
for these art forms and inspire local practitioners lo advance Iheir work.
Struclur81 governance and management
Govornlng document
Waterside Theatre Company Limited is a company limited by guarantee and accepted as charitable by HMRC
under reference XT 24141. The company was incorporated on 14th October 2010. The company was established
under a Memorandum ofAssoclallon which established the objects and powers of th8 company. and is governed by
ils Articles of Association. The liability of members is limiled in that every member of the company undertakes to
contrlbute an amount not exceeding £1 in Ihe event of the company being wound up.
Th8 Trustees, who ar8 also the directors for the purpose of company law. and who served during the year and up to
the date of signature of the financ5al slatem8nts were:
Ms EJ Barber
Mrs M Mulhern
Mrs B Slevenson
Mr B Dowdall
Mrs J Mcmaster
Ms M Keys
(Reslgned 15 February 2023)
Recrultment and 8ppolntment of the Trustees
Under the requirements of the Memorandum and Articles of Association unless otherwlse detèrmined by the
company In General Meeting the number of Trustees shall tx)t be less than five. Trustees are elected to Serve only
until the next Annual Ger)eral Meeting at vthich they shall Ih8n be eligible for re-election.
In the financial year no new Trustees were appointed and one resigned. The Board as a whole was approved by the
AGM and continues to monitor its membership.
Risk Management
The Trustees are aware of the major risks to which the charity is exposed. Where appropriate. systems or
procedures have been established lo mitigate the risks Ihe charity faces. Internal control risks are minimised
through the procedures for aulhorisation of all transactions and projects. Procedures are in place lo ensure
compliance with applicable laws and regulations. These procedures are reviewed periodically to ensure that they
continue lo meet the needs of the charity.

WATERSIDE THEATRE COMPANY LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Organlsatlon Structure
The Board of Trustees consists of six members who administer the charity. The Trustees are responslble for the
strategic direction and policy of the organisation. The Trustees are from a varlety of professional backgrounds
relevant to the work of the charity.
All members of the Board of Truslees give their time voluntarily and receive no benefits from the charity. Any
expenses reclaimed from the charity are sel out in the notes to the financial slatemenls.
A scheme of delegalion is in place and responsibility for the provision of services rests with the Chief Executive
Officer, who is fesponsible for the day to day operational management of the charity.
Statement of Trustees. responsiblllties
The Trustees, who are also the direclors of Waterside Theatre Company Limited for the purpose of company law,
are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law
and Uniled Kingdom Accounting Slandards (United Kingdom Generally Accepted Accounting Practice).
Company Law requires the Trustees to prepare financial statements for each financi21 year which give a true and
fair view of the stale of affairs of the charity and of the incoming resources and application of resources, including
the income and expenditure, of the Charitable company for that year.
In preparing these Ilnanclal statemenls. the Trustees are requlred to:
select sultable accounting policles and then apply them conslstently;
observe the methods and princlpl8s in the Charities SORP.
make judgements and estimates that are reasonablg and prudent. and
prapar8 the flnanclal statements on the golng concern basis unless It Is Inappropriate to presume that the charlly
wlll continue in op8ration.
The Trustees are responslble for keeplng adequate accounting records thal dlsclose with raasonable accuracy at
any lime the financial position of the charily and enable them to ensure that the financial statements comply with the
Companies Act 2006. They are also responsible for safeguarding th& assets of the charity and hence for taking
reasonable steps for the prevention ancl detection of fraud and other irregularities.
The Trustees, report was approved by the Board of Trustees.
Mrs 8 Slevenson
Trustee
13 De￿mber 2023

WATERSIDE THEATRE COMPANY LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF WATERSIDE THEATRE COMPANY LIMITED
W8 report on the accounts of the charlty for the year ended 31 March 2023, which are set out on pages 7 to 20.
Respectlve responslbllltles of Trustees and examlner
The trustees. who are also the directors of Waterside Theatre Company Limited for the purposes of company law,
are responsible for thè preparation of the accounts in accordance wilh the requirèments of the Companies Act
2006.
Having satisfied ourselves that the charity is not subject to audit under company law, and is eligible for
independenl examination. il is our fesponsibilily io:
examine the accounts under sectlon 65 of the Charities Act
(li) follow the procedures laid down in the general directions given by the Charity Commission for Northern
Ireland under section 65(9)Ib) of the Charities Act
Illi) slate whether particular matters have com8 to our attention.
Basls of Independent examlner's report
We have examined your charity accounts as required under section 65 of the Charities Act and our examlnation
was carried out in accordance with Ihe general Directions given by the Charity Commission for Northern Ireland
under section 65(9llb) of the Charities Act. The examination included a review of th8 accounting records kept by
the charity and a comparison of the accounts presented wilh those records. It also Included conslderalion of any
unusual items or disclosures in the accounts. and seeking explanats'ons from you as charity trustees concerning
any such matters.
Our role is to stale whether any material matters have come to our attention glving us cause lo b&lieve:
1. That accounting records were rnl kept in accor(Jance with section 386 of the Companies Act 2006
2. Thal the accounts do not accord with those accounling records
3. That the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006
and with the methods and principles of the Charities Statement of Recornmended Praclice applicable to charilles
preparing their accounts in accordance wllh the Financial Reporting Standard applicable in the UK and Republlc
of Ireland
4. Thal there is further information needed for a proper understanding of the accounts to be reached.
Independent examlner's slatement
We can confirm that we are qualified lo undertake the ex8mination because we are registered members of
Chartered Accounlants Ireland which is one of the listed bodies.
We have completed our examination and have no concerns in respect of the malters11) to (4) Ilsted above and,
in connection with followlng the Direclions of the Charity Commission for Northern Ir8land, we have found no
matters that require drawing to your attention.
Moore {Nl)
LP
Charlered Accounlants Ireland
21123 Clarendon Street
DerrylLondonderry
BT48 7EP
Dated." 13 December 2023

WATERSIDE THEATRE COMPANY LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2023
Current financlal year
Unrostrlcted Unrestricted Restrlcted
funds
funds
funds
general deslgnated
2023
2023
Total
Total
2023
2023
2022
Noles
Income from..
Grants and donations
Charitable actlvities
147,406
101,399
18,611
166,017
145,128
167,661
83,393
43,729
Total Income
248,805
18.611
43,729
311,145
251.054
endlture on:
Charitable activities
222,575
9,215
35,503
267.293
222.357
Net incomlng r•sourc8s before
transfers
26,230
9,396
8,226
43,852
28,697
Net Incomlng resources before
transfers
26,230
9,396
8,226
43,852
28,697
Gross transfers between funds
(5,802)
1,125
4,677
Net In¢ome for the yearl
Net movement In fund$
20,428
10,521
12.903
43,852
28,697
Fund balances at 1 Aprll 2022
130.791
23,510
154.301
125,604
Fund balances at 31 March 2023
151,219
34.031
12,903
198,153
154,301
The statement of financlal activities Includes all gains and losses recognised in the year.
All income and expendilure derive from continuing activities.
The statement of financial activities also complies wilh the requirements for an income and expenditure account
under the Companies Act 2006.

WATERSIDE THEATRE COMPANY LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2023
Prior flnanclal year
Unrestrlcted Unrestricled Restrlctèd
funds
funds
funds
general deslgnated
2022
2022
Total
2022
2022
Notes
Income from:
Grants and donations
Charltable activities
167,661
51,720
167,661
83,393
31.673
Total Income
219,3B1
31,673
251,054
endllure on:
Charitable a¢tivilies
173,610
7,800
40,947
222,357
Nel Incomlng resources before transfers
45,771
(7,800)
(9,274)
28,697
Gross transfers between funds
232
(232)
Net Income for Ihe yearl
Net movement In funds
46,003
17.800)
(9,506)
28,697
Fund balances at 1 April 2021
84.788
31,310
9,506
125,604
Fund balances al 31 March 2022
130.791
23,510
1 $4,301

WATERSIDE THEATRE COMPANY LIMITED
BALANCE SHEET
ASAT 31 MARCH 2023
2023
2022
Notes
Flxed assets
Tangible assets
44.748
34,430
Current assets
Debtors
Cash at bank and in hand
10
27,449
137,675
62,082
66,055
165,124
128,137
Credltors: amounts falllng due wlthln
one year
11
(11,719)
(8,266)
Net current assets
153.405
119,871
Total assets less current Ilabllltles
198,153
154,301
Income funds
Restricted funds
Unrestricted funds - deslgnated
Unrestricted funds - general
12
12,903
34,031
151,219
23,510
130,791
198,153
154,301
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act
2006, for the year ended 31 March 2023.
The directors acknowledge their responsibilities for complying with Ihe requlrernents of th& Companies Act 2006
with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in questlon in
accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject
to the small companies regime.
The financial statements W8re approved by the Trustees on 13 December 2023
VL
Mrs B Stevenson
Trustee
Company registration number N1602830

WATERSIDE THEATRE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Accounting pollcles
Charity Informatlon
Waterside Theatre Company Limited is a private company limited by guarantee incorporated In Northern
Ireland. The registered office is Walerside Cenlre. Glandermolt Road, Londonderry, B T47 6BG.
1.1 Accountlng convenllon
The financial statements have been prepared in accordance wilh the chariws Igoverning documentl, Ihe
Companies Act 2006. FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of
Ireland" I'FRS 102.) and the Charities SORP 'Accounting and Reporting by Charities-. Slatement of
Recommended Practice applicable to charities preparing Iheir accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019}. The
charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not lo prepare a Statement of
Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of Ihe charily. Monetary
amounts in these financial siatements are rounded to the nearest £.
The accounts have been prepared under the historical cost convention. The principal accounting policies
adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the Trustees h8ve a reasonable expectation that the charity
has adequate resources to conlinue in operational exislence for the foreseeable future. Thus the Trustees
continue to adopt the going concern basis of accounting in preparing the financial stalements.
1.3 Charltable funds
Unrestricted funds are available for use at the discretion of the Trustees In furtheran￿ of their charitable
objectlves.
Designated funds comprlse funds which have been sel aside at the discretlon of the Trustees for speclfic
purposes.
Restricted funds are subject to specific conditions by donors as to how they may be used. Th8 purposes and
uses of the restricted funds are set out in the notes to the financial statements.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met,
the amounts can be measured rellably. and it is probable that income will be received.
Cash donations are recognised on receipt. other donations are recognised once Ihe charity has been notified
of the donation, unless performance conditions require deferral of Ihe amount. Income tax recoverable in
relation lo donations received under Gift Aid or deeds of covenant is recognised at the time of the (Jonation.
Turnover from other trading activities is measured at the fair value of the conslderation received or recelvable
and represents amounts receivable for services provided in the normal course of business.
1.5 Expenditure
Expenditure is recognised once there is a legal or constnJ¢tive obligation lo make a payment to a third parly, it
is probable that selllement will be required and the amount of the obligation can be measured reliably.
Irrecoverable VAT is Charged as a cost against Ihe activity for which the expendilure was incurred.
10-

WATERSIDE THEATRE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Accounting pollctes
(Contlnued)
Expenditure on charitable activities includes Ihe costs of services undertaken to further the purposes of the
charity and their associated support costs.
1.6 Tanglblo flxed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation. net of
dèpreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual value5 over thelr
useful lives on the following bases:
Flxtures and fittings
12.50A straight line
The gain or loss arising on the disposal of an asset is determined as the difference behveen the sale proceeds
and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Impalrm8nt of flxed assets
At each reporting end date, Ihe charity reviews the carrylng amounts of Its tangible assets to determine
whether there Is any indication that those assets hav8 suffered an impairment loss. If any such Indication
exists, the recoverable amount of the asset is estimat8d in order to determine th8 extenl of the impairment
loss (if any).
1.8 Ca8h and cash equlvalenls
Cash and cash equlvalents include cash in hand and bank overdrafts. Bank overdrafts are shown wlthln
borrowlngs In current Ilabililies.
1.9 Flnanclal Instruments
The charity has elected to apply the provlslons of Section 11 'Basic Financlal Instruments, and Section 12
'Other Financlal Instruments Issues, of FRS 102 to all of its fsnanclal Instruments.
Flnancial Instruments are recognised in the charity's balance sheet vthen th8 charlly becomes party to the
contractual provisions of Ihe instrument.
Flnan¢ial assets and liabilities are offs81. with the net amounts presented in the financial slatements, when
there is a legally enforceable right to set off the recognised amounts and there Is an intention lo settle on a net
basis or to realise the assel and settle the liability simultaneously.
Baslc flnanclal assets
Basic financial assets, which include debtors arKI cash and bank balances, are initially measured al
transaction price including transaction costs and are subsequently carried at amortised cost using the effective
interest method unless the arrangement constitutes a financing transaction, where the transaction is
measured at Ihe present value of the future receipts discounled at a markel rate of interest. Financial assets
classified as receivable within one year are not amortised.
11

WATERSIDE THEATRE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Accounting policles
{Contlnued}
Basic flnancial liabilities
Basic financial liabilities, including credilors and bank Soans are inilially recognised at transaction price unless
the arrangement conslilutes a financing transaction. where the debt instrument is measured at the presenl
value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable
within one year are not amortised.
Debt instrumenls are subsequently carried at amorlised cost. using the effective interest rate method.
Trade credllors are obligations to pay for goods or services that have been acquired in the ordinary course of
operations from suppllers. Amounts payable are classified as current liabilities if paymenl is due within one
year or less. If not, Ihey are presented as non-current liabilities. Trade creditors are recognlsed initially at
Iransactlon price and subsequently measured al amorlised cost using the effective interest method.
Derecognltlon of flnanclal Ilabllltles
Financial Ilabillties are derecognised when the charity's contractual obligatlons expire or are dlscharged or
cancelled.
1.10 Taxatlon
The company is a charity and is recognised as such by HM Revenue & Customs under the charity lax
reference XT24141. As a result, there is no liability to taxation on any of its income.
1.11 Employee beneflls
The cost of any unused holiday entitlemenl is recognised in the period in which the employee's services are
received.
Termination benefits are recognised Immediately as an expense when the charity is demonslrably commltled
to terminate the employment of an employee or to provide lermination benefits.
Crlllcal accountlng estlmates and judgements
In the application of the charity's accounting policies, the Trustees are required lo mak8 judgements,
estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent
from other sources. The estimates and associated assumplions are based on historical experience and other
factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounling
estimates are recognised in the period in which the estimate is revised where the revision affects only that
period, or in the period of the revision and future periods where the revision affects both current and future
periods.
Grants and donatlons
Unrestricted Unrestricted
funds
funds
general deslgnated
2023
2023
Total Unrestricted
funds
general
2022
2023
Donations and gifts
Income receivable for CORE activities
1,000
146,406
1,000
165,017
1,ODO
166,661
18,611
147,406
18,611
166,017
167,661
12-

WATERSIDE THEATRE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Grants and donations
(Continued)
Donations and gifts
Waterside Credit Union
1,000
1,000
1,000
1,000
1,000
1.000
Grants rècelvable for core actlvltles
Arts Council Nl
DCSDC
Arts Council Covid Recovery
Arts Council AFP
124,384
13,073
18,611
142,995
13,073
124,384
11,770
30,507
8,949
8,949
146,406
18,611
165,017
166,661
Charltable actlvllles
2023
2022
Performance r81ated grants
Ancillary trading income
Charitable rent81 income
other income
43,729
77,400
17,578
6,421
31.673
37,099
15,029
(408)
145,128
83,393
Analysis by fund
Unrestricted funds - general
Reslricted funds
101,399
43,729
51,720
31,673
145,12B
83,393
Performance related grants
ACNI
DCSDC
HMRC Job Retention Scheme
Future Screens
7,565
14,245
22,762
8,911
21,919
43,729
31,673
13-

WATERSIDE THEATRE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Charltable actlvltles
2023
2022
Depreclation and impairment
Wages and salaries
Programme costs
Artisls, costs
Publishing and marketing costs
Member Fees
Bar and gallery costs
11,112
15,217
20.286
31,155
6,362
1,170
3,410
9,626
8,911
32,036
16.642
3,581
203
1,640
88,712
72,639
Share of support costs (see note 6)
Share of governance costs (see not8 6)
171,579
7,002
143,200
6,518
267,293
222,357
Analysls by fund
Unrestrlcted funds general
Unrestricted funds - designated
Restricted funds
222,575
9,215
35,503
173,610
7,800
40,947
267,293
222,357
Support costs
Support Governance
cosls
costs
2023
Support Governancè
costs
cosls
2022
Staff costs
Staff costs
Premises costs
Administration costs
Bank charges
Sundry costs
112,695
1,619
53,180
1,100
1,856
1,129
112,695
1,619
53,180
1,100
1,856
1,129
94,227
1,286
44.773
1,244
1,477
193
94,227
1,286
44.773
1,244
1,477
193
Audit fees
Insurance costs
3,050
3,952
3,050
3,952
2,788
3,730
2,788
3.730
171,579
7,002
178,581
143.200
6,518
149,718
Analysed between
Charitable activities
171,579
7.002
178,581
143,200
6,518
149,718
Governance costs includes payments to the auditors of £2,788 (2022- £2,500) for audit fees.
14-

WATERSIDE THEATRE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Employees
The average monthly number of employees during the year was:
2023
Number
2022
Number
Employment costs
2023
2022
Wages and salaries
112,695
94,227
There were no employees whose annual remuneration was more than £60.000.
Taxatlon
The charity is exempt from tax on Income and gains falling within section 505 of the Taxes Act 1988 or sectlon
252 of the Taxationof Chargeable Gains Act 1992 to the exlent thal Ihese are applied to ils charitable objects.
Tangible fixed assets
Flxtura% and flttlng¥
Cost
At 1 Aprll 2022
Additions
164,521
21,429
At 31 March 2023
185,950
Depreclatlon and Impalrment
At 1 April 2022
Depreciatlon charged in the year
130,091
11,111
Al 31 March 2023
141,202
Carrylng amount
At 31 March 2023
44,748
Al 31 March 2022
34,430
15-

WATERSIDE THEATRE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
10 Debtors
2023
2022
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
4.576
14,639
8,234
604
53.196
8,282
27,449
62,082
11 Credltor8: amounts falllng due wlthln one year
2023
2022
other taxation and social security
Trade creditors
Accruals and deferred income
3,088
3,091
5,540
(101)
3,486
4.881
11,719
8,266
16-

rrcoooif*
IJJ Q) In 10
I￿00
O) al
a5zz(n(nC( E E Zlfj J(n
uuuuSooUL)JU
O<<OQIUU<CJLLO

CC& U
JD) 3u)
U J S J IL J
<LL ULL ZLL L>￿ L)LL ULL ￿LL

WATERSIDE THEATRE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
14 Financlal commltments, guarantees and contlngent liabllltles
Certain grants received and receivable may become repayable to the funder if the charity 15 no longer able lo
meet the conditions under which they were awarded. Due to the nature of these contingencies it may not be
possible to quantify the potential financial effect or give an indication of the tlrning as to the liabilities that may
arise.
15 Related party transactlons
One of the Trustees received £105 {2022 £910) for their role as a facilitstor of a charltable activlty. None of
the other Trustees recelv8d any remuneration during th8 year.
There were no oth8r related party transactlons.
-20-