BIG TELLY THEATRE COMPANY

Company limited by guarantee

Company Registration Number:
NI022539 (Northern Ireland)

Unaudited statutory accounts for the year ended 6 April 2024

Period of accounts

Start date: 1 April 2023

End date: 6 April 2024

BIG TELLY THEATRE COMPANY

Contents of the Financial Statements

for the Period Ended 6 April 2024

Directors report
Balance sheet
Additional notes
Balance sheet notes

BIG TELLY THEATRE COMPANY

Directors' report period ended 6 April 2024

The directors present their report with the financial statements of the company for the period ended 6 April 2024

Principal activities of the company

23/24 Belfast International Arts Festival, Origin Theatre 1st Irish Festival NYC, Tiny Dynamite Philadelphia, Flowerfield Arts Centre Portstewart, Centre for Cultural Value Leeds, Culture Ireland, Fun Palaces, Colliers Estate Agents Belfast, Councils & Government bodies; MEA, Tourism Ireland, Causeway Coast and Glens BC. Repeatability - All of our work is repeatable, sustainable and scalable, with New Work projects progressing into In Repertoire. This affords us to be able to reuse costume, set and tech. Digital Work - The largest gains in carbon reduction in wholly digital/hybrid work, come from the complete removal of audiences travelling to a show. By watching from home there is a 99.72% reduction in carbon generated emissions. Digital Engagement - Upskilling and investing in social media marketing and utilising our digital channels to create more targeted marketing campaigns, reduces printing and therefore reduces our overall environmental footprint. It also saves overhead costs, allowing us to redirect our marketing budget to more optimal campaigns. Remote Working - Whilst we spend a significant amount of time in physical spaces for projects, where we can, partial remote working still remains a favourable option for us. 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. The outcomes achieved to date have been: More people are engaged by the arts through access to 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. 2023/24 Productions/Projects The Worst Cafe in the US Granny Jackson’s Dead Windswept Beaches The Living Room The House VR experience Black Box Rear Windows Incognito Dundalk Bear Hospital Pomeroy Forest The Living Map Carrickfergus Outreach Projects Fun Palaces

Political and charitable donations

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 or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the company.

Additional information

Other information The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Members are responsible for the other information 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 information 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 otherwise 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 that fact. We have nothing to report in this regard.



Directors

The directors shown below have held office during the whole of the period from
1 April 2023 to 6 April 2024

Tom Maguire
Tony Hennessey
Rosana Trainor
Cara MacMahon
Claire Sugden
Chris Hurd-Wood
Alison Grundle


The director shown below has held office during the period of
31 January 2024 to 6 April 2024

Eoin O'Connell


Secretary Crissy ODonovan

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
26 September 2024

And signed on behalf of the board by:
Name: Crissy ODonovan
Status: Secretary

BIG TELLY THEATRE COMPANY

Balance sheet

As at 6 April 2024

Notes 2024 2023


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 15,286 18,786
Investments:   0 0
Total fixed assets: 15,286 18,786
Current assets
Stocks:   0 0
Debtors: 4 31,234 27,719
Cash at bank and in hand: 206,575 149,514
Total current assets: 237,809 177,233
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 5 ( 92,835 ) ( 91,417 )
Net current assets (liabilities): 144,974 85,816
Total assets less current liabilities: 160,260 104,602
Total net assets (liabilities): 160,260 104,602
Members' funds
Profit and loss account: 160,260 104,602
Total members' funds: 160,260 104,602

The notes form part of these financial statements

BIG TELLY THEATRE COMPANY

Balance sheet statements

For the year ending 6 April 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 26 September 2024
and signed on behalf of the board by:

Name: Tom Maguire
Status: Director

The notes form part of these financial statements

BIG TELLY THEATRE COMPANY

Notes to the Financial Statements

for the Period Ended 6 April 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    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 to donations received under Gift Aid or deeds of covenant is recognised at 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.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised 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 25% straight line Office equipment 25% straight line Stage Equipment 25% straight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

    Other accounting policies

    Charity information Big Telly Theatre Company is a private company limited by guarantee incorporated in Northern Ireland. The registered office is Flowerfield 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 [governing document], 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)" (effective 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 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 or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the company. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Company to 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. Impairment of fixed assets At 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. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if 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 Financial instruments The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual 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 to 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 simultaneously. 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 constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Impairment of financial assets Financial assets, other than those held at fair value through income and expenditure, are assessed for indicators of impairment at each reporting date. 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 income/(expenditure) 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 income/(expenditure) for the year. Derecognition of financial 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 ownership to another entity, or if some significant risks and rewards of ownership are retained but 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 price 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 liabilities Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled. 1.10 Employee benefits Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 1.11 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

BIG TELLY THEATRE COMPANY

Notes to the Financial Statements

for the Period Ended 6 April 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 3 3

BIG TELLY THEATRE COMPANY

Notes to the Financial Statements

for the Period Ended 6 April 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2023 0 5,380 0 78,130 0 83,510
Additions 0 0 0 6,087 0 6,087
Disposals 0 0 0 0 0 0
Revaluations 0 0 0 0 0 0
Transfers 0 0 0 0 0 0
At 6 April 2024 0 5,380 0 84,217 0 89,597
Depreciation
At 1 April 2023 0 5,380 0 59,344 0 64,724
Charge for year 0 0 0 9,587 0 9,587
On disposals 0 0 0 0 0 0
Other adjustments
At 6 April 2024 0 5,380 0 68,931 0 74,311
Net book value
At 6 April 2024 0 0 0 15,286 0 15,286
At 31 March 2023 0 0 0 18,786 0 18,786

BIG TELLY THEATRE COMPANY

Notes to the Financial Statements

for the Period Ended 6 April 2024

4. Debtors

2024 2023
£ £
Trade debtors 9,423 17,261
Prepayments and accrued income 0 0
Other debtors 21,811 10,458
Total 31,234 27,719
Debtors due after more than one year: 0 0

BIG TELLY THEATRE COMPANY

Notes to the Financial Statements

for the Period Ended 6 April 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 0 0
Taxation and social security 1,920 0
Accruals and deferred income 85,506 90,323
Other creditors 5,409 1,094
Total 92,835 91,417

BIG TELLY THEATRE COMPANY

Notes to the Financial Statements

for the Period Ended 6 April 2024

6. Financial Commitments

Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price 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 liabilities Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.