IRIS Accounts Production v24.3.0.553 Other Company accounts True false Pounds 1.4.23 31.3.24 31.3.24 FY FRS 102 Independent examiner Small companies regime for accounts Full Charities SORP true true true true false true false false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh018565802023-03-31018565802024-03-31018565802023-04-012024-03-31018565802022-03-31018565802022-04-012023-03-31018565802023-03-3101856580ns0:CharitableCompanyLimitedByGuarantee2023-04-012024-03-3101856580ns15:PoundSterling2023-04-012024-03-3101856580ns11:FRS1022023-04-012024-03-3101856580ns11:IndependentExaminationCharity2023-04-012024-03-3101856580ns11:SmallCompaniesRegimeForAccounts2023-04-012024-03-3101856580ns11:FullAccounts2023-04-012024-03-3101856580ns11:CharitiesSORP2023-04-012024-03-3101856580ns16:EnglandWales2023-04-012024-03-3101856580ns11:RegisteredOffice2023-04-012024-03-3101856580ns0:Trustee32023-04-012024-03-3101856580ns0:Trustee42023-04-012024-03-3101856580ns0:Trustee22023-04-012024-03-3101856580ns0:Trustee52023-04-012024-03-3101856580ns0:Trustee62023-04-012024-03-3101856580ns0:Trustee12023-04-012024-03-3101856580ns0:Trustee72023-04-012024-03-3101856580ns0:Trustee82023-04-012024-03-3101856580ns0:Trustee92023-04-012024-03-3101856580ns0:Trustee102023-04-012024-03-3101856580ns0:Trustee112023-04-012024-03-3101856580ns11:CompanySecretary12023-04-012024-03-3101856580ns0:TotalUnrestrictedFunds2023-04-012024-03-3101856580ns0:TotalRestrictedIncomeFunds2023-04-012024-03-3101856580ns0:Activity82023-04-012024-03-3101856580ns0:Activity8ns0:TotalUnrestrictedFunds2023-04-012024-03-3101856580ns0:Activity8ns0:TotalRestrictedIncomeFunds2023-04-012024-03-3101856580ns0:Activity82022-04-012023-03-3101856580ns0:TotalUnrestrictedFunds2023-03-3101856580ns0:TotalRestrictedIncomeFunds2023-03-3101856580ns0:TotalUnrestrictedFunds2024-03-3101856580ns0:TotalRestrictedIncomeFunds2024-03-3101856580ns0:TotalUnrestrictedFundsns10:WithinOneYear2024-03-3101856580ns0:TotalRestrictedIncomeFundsns10:WithinOneYear2024-03-3101856580ns10:WithinOneYear2024-03-3101856580ns10:WithinOneYear2023-03-310185658022023-04-012024-03-310185658032023-04-012024-03-310185658012023-04-012024-03-310185658012022-04-012023-03-3101856580ns10:OwnedAssets2023-04-012024-03-3101856580ns10:OwnedAssets2022-04-012023-03-3101856580ns0:TotalUnrestrictedFunds2022-04-012023-03-3101856580ns0:TotalRestrictedIncomeFunds2022-04-012023-03-3101856580ns0:Activity8ns0:TotalUnrestrictedFunds2022-04-012023-03-3101856580ns0:Activity8ns0:TotalRestrictedIncomeFunds2022-04-012023-03-3101856580ns10:LandBuildingsns10:OwnedOrFreeholdAssets2023-03-3101856580ns10:PlantMachinery2023-03-3101856580ns10:FurnitureFittings2023-03-3101856580ns10:MotorVehicles2023-03-3101856580ns10:LandBuildingsns10:OwnedOrFreeholdAssets2023-04-012024-03-3101856580ns10:PlantMachinery2023-04-012024-03-3101856580ns10:FurnitureFittings2023-04-012024-03-3101856580ns10:MotorVehicles2023-04-012024-03-3101856580ns10:LandBuildingsns10:OwnedOrFreeholdAssets2024-03-3101856580ns10:PlantMachinery2024-03-3101856580ns10:FurnitureFittings2024-03-3101856580ns10:MotorVehicles2024-03-3101856580ns10:LandBuildingsns10:OwnedOrFreeholdAssets2023-03-3101856580ns10:PlantMachinery2023-03-3101856580ns10:FurnitureFittings2023-03-3101856580ns10:MotorVehicles2023-03-3101856580ns10:BetweenOneFiveYears2024-03-3101856580ns10:BetweenOneFiveYears2023-03-3101856580ns10:AllPeriods2024-03-3101856580ns10:AllPeriods2023-03-31
REGISTERED COMPANY NUMBER: 01856580 (England and Wales)
REGISTERED CHARITY NUMBER: 515903








THEATR NA N'OG

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

THEATR NA N'OG

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Report of the trustees 1 to 7

Independent examiner's report 8

Statement of financial activities 9

Balance sheet 10 to 11

Cash flow statement 12

Notes to the cash flow statement 13

Notes to the financial statements 14 to 27

THEATR NA N'OG (REGISTERED NUMBER: 01856580)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024



The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of 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 report of the trustees also incorporates a directors' report as required by company law.

Objectives and activities
Objectives and aims

The objects of the charity are to produce theatre productions for young people. The charity will also tour productions regionally, nationally and internationally to broaden its audience base.

The charity believes that children and young people deserve to experience theatre of the same high artistic standard and aesthetic value as theatre aimed at adults, by creating high quality theatre that is powerful, inspiring and relevant to all ages, bringing to life authentic stories of ordinary people who achieve extraordinary things.

Its aims are to:

-
Inspire by producing bilingual theatre that captivates the minds and imaginations of audiences across Wales
and beyond.

-
Invest by being a resilient and innovative company who are positioned to lead in the promotion and
celebration of home-grown talent, showing the best the creative industry in Wales has to offer.
-Influence by creating theatre that has a purpose and reflects the evolving nature of our society.

By achieving these aims the organisation makes it a vital component in the arts sector in its region and in Wales.

Significant activities

The charity's main objectives continued to be the promotion of theatre for young people in our local area but with an intention to tour productions to a variety of age groups and beyond our traditional area. Four key areas were identified for specific attention:

-to raise the charity's profile locally and nationally;
-to increase production and performance weeks;
-to promote our touring productions in Wales and the UK;
-to allocate a percentage of funds for research and development on future productions.

Strategies for achieving the aims and objectives are through the artistic plan which is openly consulted with stakeholders, which informs the charity's activities.

The charity measures its success through audience numbers and participants. It also regards critical appraisal from peer groups and funders.

Significant activities undertaken in this financial year were 3 productions, with a fourth production in pre-production. The charity broadened its reach to new areas in Wales with its new initiative Goleufa/Beacon which will see its annual autumn production perform at Theatr Brycheiniog, enhancing accessibility for young audiences in Powys and produced and performed the Welsh language Consortiwm project which presents Welsh language theatre to the Valleys of South Wales.


THEATR NA N'OG (REGISTERED NUMBER: 01856580)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024


Objectives and activities
Public benefit

The trustees of the charity are committed to providing a public benefit, and have taken into account the Charity Commission's guidance in this area.

For the many members of our audiences who come from deprived communities, Theatr Na N'og's ethos has always been to inspire and encourage ambition and aspiration, to believe in oneself and dare to dream. This is what makes our work so effective at igniting young imaginations and appealing to people from all backgrounds.

Through our expertise in working with both schools and theatre venues, we have developed a unique understanding of how to bridge the gap between the generations, in order to achieve a truly shared experience.

Volunteers

The charity also recognises the significance of volunteers for our activities. The creative associates and volunteers for specific events. They also contribute to the discussion on policies and strategies to engage with the wider community and under-represented groups in the sector and society.


THEATR NA N'OG (REGISTERED NUMBER: 01856580)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024


Achievement and performance
Charitable activities

Since the pandemic the organisation had began to offer an ambitious programme of work building on its commitment to its audiences and collaborators:

-Support teachers & young people
-The network of freelance professionals
-Venues in Wales

However, the opportunity for further investment from the Arts Council of Wales did not materialise and the cost of living crisis exacerbated an under-invested sector creating further challenges for the charity.

In the midst of these challenges the organisation continued its commitment to their audiences.

Just Jump

A revival of the award-winning production commissioned by Cardiff Harbour Authority, Associated British Ports and Culture Step by Arts and Business Cymru. The production was performed at the Norwegian Church in Cardiff to 877 children in both Welsh and English. The success of this collaboration has led to further funding from the partners for the next year.

The Butterfly Hunter / Heliwr Pili Pala

The company's annual school production at the Dylan Thomas Theatre in Swansea was presented in the Autumn. The project had an additional week at Theatr Brycheiniog as a result of the successful pilot project in 2022. 4,861 children saw the production. With a total audience of 5,437.

Y Fenyw Mewn Du

The second production for the Consortiwm Cymraeg. A Welsh translation of the successful West End show, toured to the partner venues and a new partner the Borough Theatre in Abergavenny. We performed to 658 people.

Operation Julie Tour

Pre-production for the highly successful summer co-production with Aberystwyth Arts Centre, telling the story of the famous police operation that took place in West Wales in 1975-1977 which managed to undercover, at the time, the world's largest LSD manufacturer. This original play with a 70's prog-rock soundtrack will tell the incredible story of Operation Julie.

The production will tour to Aberystwyth Arts Centre, Theatr Brycheiniog, The Lyric Carmarthen, Pontio Bangor and The Riverfront Arts Centre, Crewe Lyceum and The Wyvern at Swindon.

Other

The organisation performed to 13,987 people in this financial year an increase of 23% on last years figures.

The organisation has maintained its main funder - the Arts Council of Wales and was been successful in achieving funding for its production of Operation Julie. In addition to the core grants, further grant funding was awarded of £201,980 (2023; £102,484) together with donations totalling £74 (2023; £24) received from the public.


THEATR NA N'OG (REGISTERED NUMBER: 01856580)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024


Financial review
Financial position

The charity continues to review its income base and cost base, with a view to conserving resources. During this financial period, resources have increased in line with budgetary forecasts. Reserves remain at a satisfactory level.

The charity has seen an increase in material costs and in travel and accommodation costs directly impacting on production costs of the organisation. Energy costs have also risen and this has also impacted on the core funds of the organisation.

Certain factors which could affect future financial performance will be the increased costs of transporting audiences to the charity's performances, particularly school children, which could potentially result in fewer audience numbers and income.

Total incoming resources for the year amounted to £612,579 (2023; £616,018). Resources expended amount to £583,126 (2023; £582,217). The net surplus for the year is £29,453 (2023; £33,801).

The net reserves at the balance sheet date are £536,851 (2023; £507,398) of general funds.

Principal funding sources

The charity has maintained its annual revenue funding from the Arts Council of Wales, with a decrease in the level of funding next year.

Investment policy and objectives

The trustees consider the most appropriate policy for investing surplus funds is in short term deposit accounts to maintain cashflow liquidity.

Reserves policy

Theatr Na N'og has set the following policy in order to see out its short-term commitments in the event of loss of income or other financial crisis.

A minimum of £125,000 has been set to cover the costs and outstanding debt following loss of all income and resources. The charity has fixed assets including ownership of Units 3 and 4 Milland Road Industrial Estate. The net book value is detailed in the annual accounts; it is noted that the net book value is lower than the market value. Further to these, the charity aims to hold at any one time at least 3 months of operating reserves to cover any immediate loss of income.

Going concern

After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.


THEATR NA N'OG (REGISTERED NUMBER: 01856580)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024


Future plans

Operation Julie Tour

A tour of the successful summer co-production with Aberystwyth Arts Centre, telling the story of the famous police operation that took place in West Wales in 1975-1977 which managed to undercover, at the time, the world's largest LSD manufacturer. This original play with a 70's prog-rock soundtrack will tell the incredible story of Operation Julie.

The production will tour to Aberystwyth Arts Centre, Theatr Brycheiniog, The Lyric Carmarthen, Pontio Bangor and The Riverfront Arts Centre, Crewe Lyceum and The Wyvern, Swindon.

Just Jump

A revival of our award-winning production commissioned by Cardiff Harbour Authority, with additional funding from two business partners and Culture Step by Arts and Business Cymru. The production will be performed once again at the Norwegian Church in Cardiff and will also be performed in Milford Haven in collaboration with Milford Haven Port Authority.

The Fight

A new play will be premiered to schools as part of the company's annual school production at the Dylan Thomas Theatre in Swansea to be presented in the Autumn. The project will also be performed at Theatr Brycheiniog as part of the development of their ongoing collaboration.

Structure, governance and management
Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Charity constitution

Theatr Na N'og is a company limited by guarantee and a registered charity. It was established in 1984 to promote and advance artistic education and the public appreciation of the arts. These objects are set out in its governing instrument which is its Memorandum and Articles of Association.

Recruitment and appointment of new trustees

Under the terms of the Articles of Association, there is no maximum to the number of board members but there should be a minimum of four. All members will serve an initial term of three years. At an annual general meeting retiring members can be re-elected for a second term of three years.

Vacant positions are advertised and a short list are interviewed for each post. Trustees are then chosen for the specific skills that they will bring to the Board.

Organisational structure

The governing body is the board of trustees whose members are non-executive and unpaid. The board meets bi-monthly and covers areas such as artistic development, diversity, membership and finance.

An artistic director is appointed by the trustees to manage the day to day operations of the charity. To facilitate effective operations, the artistic director has delegated authority, within terms of delegation approved by the trustees, for operational matters including finance, employment and artistic performance related activity.


THEATR NA N'OG (REGISTERED NUMBER: 01856580)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024


Structure, governance and management
Induction and training of new trustees

All new trustees are required to attend an induction and orientation day to brief them on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision making processes, the business plan and recent financial performance of the charity. Trustees are also encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.

Key management remuneration

The trustees consider that the board of trustees and the artistic director comprise the key management personnel of the charity in charge of directing, controlling, running and operating the charity. The trustees delegate the day to day running of the organisation to the artistic director. All trustees give their time freely and no trustee received
remuneration during the year.

The pay of senior staff who are not trustees is set at industry approved levels, reviewed annually and benchmarked against comparable organisations run on a voluntary basis. The remuneration benchmark is generally the mid-point of the range paid for equivalent roles in similar organisations.

Related parties

The charity has key relationships with the Arts Council of Wales and agrees specific annual targets and objectives.

Partnerships

Theatr Na N'og continues to collaborate with a wide range of partners and fosters positive and meaningful relationships for the future. This promotes and presents an exciting collection of productions catering for the surrounding community and beyond.

This year the company has developed close working relationships with:
The Welfare Ystradgynlais, Awen Trust, Aberystwyth Arts Centre, Dylan Thomas Theatre, Theatre Soar, Swansea Museum, National Waterfront Museum, National Museum Wales, Swansea University and Technocamps.

Theatr Na N'og has an excellent relationship with local schools. Its ambition to develop relationships with schools nationwide to replicate the very successful model in Swansea, Neath Port Talbot and Bridgend has been realised and will expand further in 2025.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The trustees risk management strategy comprises:

· an annual review of the risks the charity may face;
· the establishment of systems and procedures to mitigate those risks identified in the plan; and
· the implementation of procedures designed to minimise any potential impact on the charity should those risks
materialise.

This work has identified new risks and has resulted in better emergency procedures and contingency plans and has given the impetus for better planning. A key element in the management of financial risk is the setting of a reserves policy and its regular review by trustees.




THEATR NA N'OG (REGISTERED NUMBER: 01856580)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024


Reference and administrative details
Registered Company number
01856580 (England and Wales)

Registered Charity number
515903

Registered office
Unit 3
Milland Road Industrial Estate
Neath
SA11 1NJ

Trustees
G J Cripps (resigned 10/7/2023)
L J Swindell (resigned 18/7/2023)
D C Webster
J R Williams (resigned 19/7/2023)
C P Fitzgerald (resigned 8/4/2024)
K E Fisher
O Griffiths (appointed 13/11/2023)
D A James (appointed 13/11/2023)
R A Jones (appointed 13/11/2023)
L Seymour (appointed 10/7/2023)
J S Preece (appointed 15/4/2024)

Company Secretary
G H Styles

Independent Examiner
Mark Howells FCCA
Carr, Jenkins & Hood
3 New Mill Court
Enterprise Park
Swansea
SA7 9FG

Bankers
HSBC Bank plc
3 Windsor Road
Neath
SA11 1LN

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 8 July 2024 and signed on its behalf by:




D C Webster - Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
THEATR NA N'OG


Independent examiner's report to the trustees of Theatr Na N'og ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.

Responsibilities and basis of report
As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement
Since the company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:-

1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any
requirement that the accounts give a true and fair view which is not a matter considered as part of an
independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of
Recommended Practice for accounting and reporting by charities (applicable to charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
(FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.








Mark Howells FCCA

Carr, Jenkins & Hood
3 New Mill Court
Enterprise Park
Swansea
SA7 9FG

8 July 2024

THEATR NA N'OG

STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Unrestricted Restricted Total Total
fund fund funds funds
Notes £    £    £    £   
Income and endowments from
Donations and legacies 3 324,437 - 324,437 334,442

Charitable activities 5
Productions and touring 52,444 217,493 269,937 269,885

Investment income 4 16,180 - 16,180 11,691
Other income 6 2,025 - 2,025 -
Total 395,086 217,493 612,579 616,018

Expenditure on
Raising funds 7 54,984 - 54,984 41,347

Charitable activities 8
Productions and touring 420,261 217,493 637,754 642,867

Taxation 11 (109,612 ) - (109,612 ) (101,997 )
Total 365,633 217,493 583,126 582,217

NET INCOME 29,453 - 29,453 33,801


Reconciliation of funds
Total funds brought forward 507,398 - 507,398 473,597

Total funds carried forward 536,851 - 536,851 507,398

THEATR NA N'OG (REGISTERED NUMBER: 01856580)

BALANCE SHEET
31 MARCH 2024

2024 2023
Unrestricted Restricted Total Total
fund fund funds funds
Notes £    £    £    £   
Fixed assets
Tangible assets 17 98,218 - 98,218 96,891

Current assets
Debtors 18 257,950 - 257,950 143,744
Cash at bank and in hand 270,856 - 270,856 349,516
528,806 - 528,806 493,260

Creditors
Amounts falling due within one year 19 (90,173 ) - (90,173 ) (55,753 )

Net current assets 438,633 - 438,633 437,507

Total assets less current liabilities 536,851 - 536,851 534,398

Accruals and deferred income 21 - - - (27,000 )

NET ASSETS 536,851 - 536,851 507,398
Funds 22
Unrestricted funds 536,851 507,398
Total funds 536,851 507,398

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.


THEATR NA N'OG (REGISTERED NUMBER: 01856580)

BALANCE SHEET - continued
31 MARCH 2024

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 8 July 2024 and were signed on its behalf by:





K E Fisher - Trustee

THEATR NA N'OG

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £    £   

Cash flows from operating activities
Cash generated from operations 1 (78,913 ) 2,347
Finance costs paid (198 ) (235 )
Net cash (used in)/provided by operating activities (79,111 ) 2,112

Cash flows from investing activities
Purchase of tangible fixed assets (7,377 ) (1,008 )
Sale of tangible fixed assets 2,025 -
Interest received 5,803 1,314
Net cash provided by investing activities 451 306

Change in cash and cash equivalents in the
reporting period

(78,660

)

2,418
Cash and cash equivalents at the beginning
of the reporting period

349,516

347,098
Cash and cash equivalents at the end of
the reporting period

270,856

349,516

THEATR NA N'OG

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024


1. Reconciliation of net income to net cash flow from operating activities
2024 2023
£    £   
Net income for the reporting period (as per the Statement of financial
activities)

29,453

33,801
Adjustments for:
Depreciation charges 6,049 5,055
Profit on disposal of fixed assets (2,025 ) -
Interest received (5,803 ) (1,314 )
Finance costs 198 235
Increase in debtors (114,206 ) (41,926 )
Increase in creditors 7,421 6,496
Net cash (used in)/provided by operations (78,913 ) 2,347


2. Analysis of changes in net funds

At 1.4.23 Cash flow At 31.3.24
£    £    £   
Net cash
Cash at bank and in hand 349,516 (78,660 ) 270,856
349,516 (78,660 ) 270,856
Total 349,516 (78,660 ) 270,856

THEATR NA N'OG

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. Statutory information

Theatr Na N'og is a private company, limited by guarantee without share capital, registered in England and Wales. The registered office address can be found in the report of the trustees.

2. Accounting policies

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The charity constitutes a public benefit entity as defined by FRS 102.

Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. The trustees have assessed whether there are significant doubts about the charity's ability to continue as a going concern. In a difficult trading environment for charities, Theatr Na N'og has always been reliant on public funding. The trustees will only commit to productions if they know that such funding is available. This policy is underpinned by available reserves.

Income
All income is recognised in the Statement of Financial Activities when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and the amount can be measured reliably.

Donations and voluntary income are accounted for when receivable.

The charity receives government grants in respect of furthering its charitable objectives. Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met, then these amounts are deferred.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Allocation and apportionment of costs
Costs are allocated between direct charitable and support expenditure according to the nature of the cost. Where items involve more than one category they are apportioned between the categories on a basis consistent with the use of resources.


THEATR NA N'OG

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. Accounting policies - continued

Tangible fixed assets
Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Freehold land is not depreciated
Freehold buildings- 2% on cost
Plant and machinery- 20% on cost
Fixtures, fittings and equipment- 15% on cost
Motor vehicles- 25% on cost

Taxation
As a registered charity, Theatr Na N'og is entitled to exemption from taxation in respect of income and capital gain received with sections 478-489 of the Corporation Tax Act 2010 and section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objectives only.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of financial activities on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. Contributions payable for the year are charged in the Statement of Financial Activity and represent the contributions payable by the company to the fund.


Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account and that are subject to an insignificant risk to changes in value.



Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

THEATR NA N'OG

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. Accounting policies - continued


Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3. Donations and legacies
2024 2023
£    £   
Donations 74 24
Grants 324,363 334,418
324,437 334,442

Grants received, included in the above, are as follows:

2024 2023
£    £   
Arts Council of Wales 320,795 324,363
Arts Council of Wales Cost of Living 3,568 10,055
324,363 334,418

4. Investment income
2024 2023
£    £   
Rental income 10,377 10,377
Interest receivable 5,803 1,258
Corporation Tax interest - 56
16,180 11,691


THEATR NA N'OG

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. Income from charitable activities
2024 2023
Productions
and Total
touring activities
£    £   
Box office and performance income 65,163 160,411
Consultancy and other fees 1,248 2,437
Sundry sales 359 4,410
Grants 201,980 102,484
Sponsorship 1,000 -
Royalties received 187 143
269,937 269,885

Income from charitable activities was £269,937 (2023; £269,885) of which £217,493 (2023; £139,826) was attributable to restricted funds and £52,443 (2023; £130,059) was attributable to unrestricted funds.

Grants received, included in the above, are as follows:
2024 2023
£    £   
Arts Council of Wales 184,473 100,000
Arts & Business Cymru 10,000 -
International Links (Global) Ltd 7,507 2,454
Urdd Gobaith Cymru - 30
201,980 102,484

6. Other income
2024 2023
£    £   
Gain on sale of tangible fixed assets 2,025 -


THEATR NA N'OG

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. Raising funds

Raising donations and legacies
2024 2023
£    £   
Staff costs 51,290 33,924
Publicity and advertising 3,694 7,423
54,984 41,347

8. Charitable activities costs
Direct Support
Costs (see costs (see
note 9) note 10) Totals
£    £    £   
Productions and touring 455,262 182,492 637,754

£217,493 (2023; £139,826) of the above costs were attributable to restricted funds, £420,261 (2023; £503,041) of the above costs were attributable to unrestricted funds.

9. Direct costs of charitable activities
2024 2023
£    £   
Staff costs 43,217 61,170
Production costs 407,519 438,012
Motor running expenses 2,927 2,989
Subsistence and touring expenses 1,266 2,357
App development and hosting 333 2,229
455,262 506,757

10. Support costs
Production Governance
Management costs Totals
£    £    £   
Productions and touring 75,027 107,465 182,492

THEATR NA N'OG

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


10. Support costs - continued

Support costs, included in the above, are as follows:

Production management
2024 2023
Productions
and Total
touring activities
£    £   
Wages 42,621 36,536
Social security 2,428 1,263
Pensions 1,841 1,109
Other operating leases 324 270
Water rates 85 73
Insurance 3,967 3,452
Light and heat 2,526 1,238
Telephone 847 725
Postage and stationery 794 798
Sundry expenses 666 -
Repairs and renewals 12,394 5,369
Cleaning 2,501 1,322
Affiliation fees 1,839 2,358
Legal and professional fees - 1,200
Depreciation of tangible and heritage assets 2,194 1,896
75,027 57,609
Governance costs
2024 2023
Productions
and Total
touring activities
£    £   
Wages 34,252 30,481
Social security 2,364 1,798
Pensions 1,713 1,524
Independent examiners remuneration 5,375 5,225
Independent examiners remuneration for
other work

6,575

6,400

Other operating leases 756 631
Water rates 128 110
Insurance 9,257 8,054
Light and heat 3,789 1,856
Telephone 1,977 1,691
Postage and stationery 1,853 1,861
Sundry expenses 4,889 3,130
Repairs and renewals 18,591 8,054
Cleaning 3,751 1,983
Carried forward 95,270 72,798

THEATR NA N'OG

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


10. Support costs - continued

Governance costs - continued

2024 2023
Productions
and Total
touring activities
£    £   
Brought forward 95,270 72,798
Staff training 4,727 2,309
Legal and professional fees 3,415 -
Depreciation of tangible fixed assets 3,855 3,159
Bank charges 198 235
107,465 78,501

11. Taxation
2024 2023
£    £   
Theatre tax relief (109,612 ) (101,997 )

Theatr Na N'og, as a registered charity, is entitled to exemption from taxation in respect of income and capital gains received within sections 478-489 of the Corporation Tax Act 2010 and section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objectives only.

The charity does however qualify for Theatre Tax Relief in respect of certain expenditure it incurs on its
theatrical productions, resulting in the tax credits included in the accounts as above.

12. Net income/(expenditure)

Net income/(expenditure) is stated after charging/(crediting):

2024 2023
£    £   
Examination of the financial statements 5,375 5,225
Other services 6,575 6,400
Depreciation - owned assets 6,050 5,055
Other operating leases 1,080 901
Surplus on disposal of fixed assets (2,025 ) -


THEATR NA N'OG

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


13. Trustees' remuneration and benefits

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.


14. Staff costs
2024 2023
£    £   
Wages and salaries 161,827 156,319
Social security costs 10,250 6,133
Other pension costs 7,649 5,353
179,726 167,805

The average monthly number of employees during the year was as follows:

2024 2023
Productions and touring 1 1
Marketing and publicity 1 -
Administration and management 3 2
5 3

No employees received emoluments in excess of £60,000.

The total employee benefits of the key management personnel of the charity were £49,749 (2023; £48,300).

15. Comparatives for the statement of financial activities
Unrestricted Restricted Total
fund fund funds
£    £    £   
Income and endowments from
Donations and legacies 334,442 - 334,442

Charitable activities
Productions and touring 130,059 139,826 269,885

Investment income 11,691 - 11,691
Total 476,192 139,826 616,018

Expenditure on
Raising funds 41,347 - 41,347

THEATR NA N'OG

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


15. Comparatives for the statement of financial activities - continued
Unrestricted Restricted Total
fund fund funds
£    £    £   

Charitable activities
Productions and touring 503,041 139,826 642,867

Taxation (101,997 ) - (101,997 )
Total 442,391 139,826 582,217

NET INCOME 33,801 - 33,801


Reconciliation of funds
Total funds brought forward 473,597 - 473,597

Total funds carried forward 507,398 - 507,398

16. Independent examiners remuneration

2024 2023
£ £
Examination of the financial statements 5,375 5,225
Other services 6,575 6,400
11,950 11,625


THEATR NA N'OG

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


17. Tangible fixed assets
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Cost
At 1 April 2023 189,611 90,310 48,717 26,735 355,373
Additions - 7,377 - - 7,377
Disposals - (8,917 ) - (26,735 ) (35,652 )
At 31 March 2024 189,611 88,770 48,717 - 327,098
Depreciation
At 1 April 2023 94,950 88,948 47,849 26,735 258,482
Charge for year 3,794 1,995 261 - 6,050
Eliminated on disposal - (8,917 ) - (26,735 ) (35,652 )
At 31 March 2024 98,744 82,026 48,110 - 228,880
Net book value
At 31 March 2024 90,867 6,744 607 - 98,218
At 31 March 2023 94,661 1,362 868 - 96,891

A legal charge held by the Arts Council of Wales in relation to the freehold property expires 5 November 2027.

18. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 11,976 24,502
Corporation tax recoverable 109,612 101,997
VAT 23,800 -
Accrued income 12,636 -
Prepayments 99,926 17,245
257,950 143,744


THEATR NA N'OG

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


19. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 46,731 1,315
Social security and other taxes 4,960 3,022
VAT - 506
Other creditors 7,633 2,500
Accrued expenses 30,849 48,410
90,173 55,753

20. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024 2023
£    £   
Within one year 660 660
Between one and five years 1,595 2,255
2,255 2,915

21. Accruals and deferred income
2024 2023
£    £   
Deferred government grants - 27,000

2024 2023
£ £
At 1 April 27,000 45,000
Additions during the year - 27,000
Amounts released to income (27,000 ) (45,000 )
At 31 March - 27,000

22. Movement in funds
Net
movement At
At 1.4.23 in funds 31.3.24
£    £    £   
Unrestricted funds
General fund 507,398 29,453 536,851

TOTAL FUNDS 507,398 29,453 536,851

THEATR NA N'OG

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


22. Movement in funds - continued

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 395,086 (365,633 ) 29,453

Restricted funds
Restricted 217,493 (217,493 ) -

TOTAL FUNDS 612,579 (583,126 ) 29,453


Comparatives for movement in funds

Net
movement At
At 1.4.22 in funds 31.3.23
£    £    £   
Unrestricted funds
General fund 473,597 33,801 507,398

TOTAL FUNDS 473,597 33,801 507,398

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 476,192 (442,391 ) 33,801

Restricted funds
Restricted 139,826 (139,826 ) -

TOTAL FUNDS 616,018 (582,217 ) 33,801

THEATR NA N'OG

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


22. Movement in funds - continued

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1.4.22 in funds 31.3.24
£    £    £   
Unrestricted funds
General fund 473,597 63,254 536,851

TOTAL FUNDS 473,597 63,254 536,851

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 871,278 (808,024 ) 63,254

Restricted funds
Restricted 357,319 (357,319 ) -

TOTAL FUNDS 1,228,597 (1,165,343 ) 63,254

23. Employee benefit obligations

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in independently administered funds. The pension costs charge represents contributions payable by the charity to those funds and amounted to £7,649 (2023; £5,353).

24. Related party disclosures

EFGHEL Limited
A company wholly owned by Eric Styles who is the husband of Geinor Styles, company secretary and employee of the charity.

During the year EFGHEL Limited provided the following services to the charity:

2024 2023
£ £
Reimbursement of iphone use840660
Computer support1,6151,275
2,4551,935


THEATR NA N'OG

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


24. Related party disclosures - continued

The balance outstanding at the balance sheet date was £nil (2023; £nil).

25. Limited by guarantee

The charity is constituted as a company limited by guarantee and does not have a share capital. Each member gives a guarantee to contribute a sum not exceeding £1, to the company should it be wound up.