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REGISTERED COMPANY NUMBER: 02375424 (England and Wales)
REGISTERED CHARITY NUMBER: 702506














Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 March 2024

for

Cwmni Theatr Arad Goch
(A Company Limited by Guarantee)

Cwmni Theatr Arad Goch






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Reference and Administrative Details 1

Report of the Trustees 2 to 4

Independent Examiner's Report 5

Statement of Financial Activities 6

Balance Sheet 7 to 8

Cash Flow Statement 9

Notes to the Cash Flow Statement 10

Notes to the Financial Statements 11 to 23

Cwmni Theatr Arad Goch

Reference and Administrative Details
for the Year Ended 31 March 2024



TRUSTEES Mrs S M Boswell
Mr D Creunant
Dr D H Edwards
Mrs S Gibson
Prof. E H G Jones
Mrs A M Jones
Mrs G Owen
Mr S M Rees
Ms R C Williams
Mr S P Jones


COMPANY SECRETARY Mrs N W Evans


REGISTERED OFFICE Stryd Y Baddon


Aberystwyth
Ceredigion
SY23 2NN


REGISTERED COMPANY
NUMBER
02375424 (England and Wales)


REGISTERED CHARITY
NUMBER
702506


INDEPENDENT EXAMINER Emyr Mortimer Archwilwyr Cyf
32 Y Maes
Caernarfon
Gwynedd
LL55 2NN


SOLICITORS Humphrey, Roberts & Bott
1 Alfred Place
Aberystwyth
Ceredigion
SY23 2BS


ACCOUNTANTS Emyr Mortimer Archwilwyr Cyf
32 Y Maes
Caernarfon
Gwynedd
LL55 2NN

Cwmni Theatr Arad Goch (Registered number: 02375424)

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).

OBJECTIVES AND ACTIVITIES
Objectives and aims
The main objective of the charity is to promote, maintain, improve and increase the education of the public through the promotion of educational arts and drama of excellence, in particular the art of drama, dramatic adaptations, miming, literature, dance, singing and music. The charity provides a public benefit by producing and performing dramas and workshops for children and young people. The charity also holds training courses and workshops for children and drama teachers. These activities are subsidised by grants, most notably from The Arts Council of Wales.

Arad Goch aims to create a Welsh contemporary theatre of the highest quality, which will expand and contribute to the outlook, personal and cultural understanding of its audience.

The charity aims to provide support and opportunities for artists to enable them to develop their ideas. This promotes the development and improvement of the arts in Wales, hence contributing to the cultural richness of our country.

The trustees have had regard to the Charities Commission guidance on public benefit.

Charitable activities
A full review of the achievement and performance of the charity is available in a separate chairman's report which will be presented at the Annual General Meeting. The trustees are pleased that participation levels and audience sizes support their assessment that the charity is achieving its objective, as does the ongoing assistance of The Arts Council of Wales.

Public benefit
The trustees have complied with their duties as set out in Section 17(5) of the 2011 Charities Act to have due regard to the public benefit guidance published by the Charity Commission.

FINANCIAL REVIEW
Principal funding sources
The charity's principal funding source is the Arts Council for Wales who contributed £352,048 (2023: £355,964) of core revenue funding for the year.

The results of the charity are shown in the Statement of Financial Activities. The overall net incoming resources show a deficit of £138,740 (2023: Adjusted surplus of £86,292).

Investment policy and objectives
The trustees' investment powers are governed by the Memorandum & Articles of Association. The trustees have a policy of keeping any surplus as liquid funds in high interest bearing short term deposits, which can be accessed readily. The trustees are of the opinion that the charity does not have sufficient reserves to warrant investments in other forms.


Cwmni Theatr Arad Goch (Registered number: 02375424)

Report of the Trustees
for the Year Ended 31 March 2024


FINANCIAL REVIEW
Reserves policy
The trustees have established a policy whereby the unrestricted general funds ("the free reserves") held by the charity should be equivalent to 3 to 6 months of the resources expended, which equates to approximately between £125,000 and £250,000 in general funds. The actual free reserve, as at the end of March 2024 stood at £240,649 (2023: £299,317).

At this level the trustees feel they would be able to continue the current activities of the charity. In the event of a significant drop in funding, it would obviously be necessary to consider how the funding would be replaced or activities changed. At present the general fund amounts to £292,551 (2023: £337,216), which is slightly above the current target level, but in these inflationary times, the current free reserve value is not considered to be excessive.

FUTURE PLANS
A full review of the planned future developments of the charity is available in a separate Chairman's Report which will be presented at the Annual General Meeting. A revised four-year plan has been submitted to The Arts Council of Wales.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing documents, a Memorandum & Articles of Association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees
The names of the trustees (who are also directors for the purpose of company law) are noted on page 1. Trustees are appointed by the members in General Meeting or by the trustees if there are vacant positions. The minimum number of trustees is 3 and the maximum 20. Trustees are appointed for a period of three years and retire by rotation.

Organisational structure
The trustees meet quarterly. Responsibility for running the charity, day to day, is delegated to the Artistic Director, Jeremy Turner, and the Administrative Manager, Nia Wyn Evans, who are appointed by the trustees. The trustees have the following sub committees which report to the main Board:-

- Buildings sub-committee
- Opening Doors sub-committee
- Artistic sub-committee
- Staffing sub-committee
- Business & sponsorship sub-committee

The liability of the member of the charity is limited to £1 each.

Induction and training of new trustees
When appointed, new trustees are notified of their role and responsibilities. This includes training on the policies and practices of the charity. The charity has a policy of offering training suited to the individual needs of trustees.


Cwmni Theatr Arad Goch (Registered number: 02375424)

Report of the Trustees
for the Year Ended 31 March 2024


STRUCTURE, GOVERNANCE AND MANAGEMENT
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 charity follows the policy booklet with regard to noting and tackling significant risk areas, and the Board meets quarterly in order to discuss how these can be minimised. The trustees are of the opinion that there are no significant risks that require disclosure in this report. Financial and management data are reviewed quarterly by the treasurer and the Board.

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of Cwmni Theatr Arad Goch for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

-select suitable accounting policies and then apply them consistently;
-observe the methods and principles in the Charity SORP;
-make judgements and estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the board of trustees on 20 November 2024 and signed on its behalf by:





Mrs N W Evans - Secretary

Independent Examiner's Report to the Trustees of
Cwmni Theatr Arad Goch (Registered number: 02375424)

Independent examiner's report to the trustees of Cwmni Theatr Arad Goch ('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's 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 charity'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 your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, 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:

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.








Emyr Rice-Roberts BA FCA

Emyr Mortimer Archwilwyr Cyf
32 Y Maes
Caernarfon
Gwynedd
LL55 2NN

20 November 2024

Cwmni Theatr Arad Goch

Statement of Financial Activities
(Incorporating an Income and Expenditure Account)
for the Year Ended 31 March 2024

31.3.24 31.3.23
Unrestricted Restricted Total Total
fund funds funds funds
as restated
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 3 381,802 17,000 398,802 388,699

Charitable activities 5
Project grants - 50,000 50,000 124,829
Production, development, workshop costs
33,386

7,932

41,318

20,458
Furtherance of primary objectives 57,229 40 57,269 65,686

Investment income 4 3,686 1 3,687 1,039
Other income 20,108 - 20,108 973
Total 496,211 74,973 571,184 601,684

EXPENDITURE ON
Charitable activities 6
Production, development, workshop costs
522,603

162,038

684,641

490,205
Furtherance of primary objectives 25,283 - 25,283 25,187
Total 547,886 162,038 709,924 515,392

NET INCOME/(EXPENDITURE) (51,675 ) (87,065 ) (138,740 ) 86,292
Transfers between funds 18 7,010 (7,010 ) - -
Net movement in funds (44,665 ) (94,075 ) (138,740 ) 86,292

RECONCILIATION OF FUNDS
Total funds brought forward
As previously reported 337,216 1,111,882 1,449,098 1,402,737
Prior year adjustment 13 - 63,250 63,250 23,319
As restated 337,216 1,175,132 1,512,348 1,426,056

TOTAL FUNDS CARRIED FORWARD 292,551 1,081,057 1,373,608 1,512,348

Cwmni Theatr Arad Goch (Registered number: 02375424)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Unrestricted Restricted Total Total
fund funds funds funds
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 14 51,902 998,743 1,050,645 1,061,952

CURRENT ASSETS
Debtors 15 61,222 93,180 154,402 117,470
Cash at bank and in hand 190,193 11,865 202,058 340,560
251,415 105,045 356,460 458,030

CREDITORS
Amounts falling due within one year 16 (10,766 ) (22,731 ) (33,497 ) (7,634 )

NET CURRENT ASSETS 240,649 82,314 322,963 450,396

TOTAL ASSETS LESS CURRENT
LIABILITIES

292,551

1,081,057

1,373,608

1,512,348

NET ASSETS 292,551 1,081,057 1,373,608 1,512,348
FUNDS 18
Unrestricted funds 292,551 337,216
Restricted funds 1,081,057 1,175,132
TOTAL FUNDS 1,373,608 1,512,348

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.


Cwmni Theatr Arad Goch (Registered number: 02375424)

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 20 November 2024 and were signed on its behalf by:





Prof. E H G Jones - Trustee





Mrs S M Boswell - Trustee

Cwmni Theatr Arad Goch

Cash Flow Statement
for the Year Ended 31 March 2024

31.3.24 31.3.23
as restated
Notes £    £   

Cash flows from operating activities
Cash generated from operations 1 (115,673 ) 39,903
Net cash (used in)/provided by operating
activities

(115,673

)

39,903

Cash flows from investing activities
Purchase of tangible fixed assets (28,511 ) (4,143 )
Sale of tangible fixed assets 1,995 -
Interest received 3,687 1,039
Net cash used in investing activities (22,829 ) (3,104 )

Change in cash and cash
equivalents in the reporting
period


(138,502


)


36,799
Cash and cash equivalents at the
beginning of the reporting period

340,560

303,761
Cash and cash equivalents at the
end of the reporting period

202,058

340,560

Cwmni Theatr Arad Goch

Notes to the Cash Flow Statement
for the Year Ended 31 March 2024

1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM
OPERATING ACTIVITIES
31.3.24 31.3.23
as restated
£    £   
Net (expenditure)/income for the reporting period (as per
the Statement of Financial Activities)

(138,740

)

86,292
Adjustments for:
Depreciation charges 38,322 33,727
Profit on disposal of fixed assets (499 ) -
Interest received (3,687 ) (1,039 )
Increase in debtors (36,932 ) (72,802 )
Increase/(decrease) in creditors 25,863 (6,275 )
Net cash (used in)/provided by operations (115,673 ) 39,903


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 340,560 (138,502 ) 202,058
340,560 (138,502 ) 202,058
Total 340,560 (138,502 ) 202,058

Cwmni Theatr Arad Goch

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. GENERAL INFORMATION

The charity is a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Stryd Y Baddon, Aberystwyth, Ceredigion, SY23 2NN.

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 financial statements are prepared in sterling, which is the functional currency of the entity.

Limited by guarantee
Cwmni Theatr Arad Goch is a company limited by guarantee. The liability of the members of the charity is limited to £1 each.

Going concern
There are no material uncertainties about the charity's ability to continue as a going concern.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

The following specific policies are applied to particular categories of income:

* Income from donations or grants is recognised when there is evidence of entitlement
to the gift, receipt is probable and its amount can be measured reliably.
* Income from contracts for the supply of services is recognised with the delivery of the
contracted service. This is classified as unrestricted funds unless there is a
contractual requirement for it to be spent on a particular purpose and returned if
unspent, in which case it may be regarded as restricted.
* Capital grants are recognised as restricted funds and amortised by equal annual
instalments on the same basis as the depreciation charge applicable to the assets
concerned and transferred to general funds

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.

Cwmni Theatr Arad Goch

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property - 2% straight line
Fixtures, fittings and equipment - 20% reducing balance
Motor vehicles - 25% reducing balance
Computer equipment - 20% reducing balance

Any single item over the value of £100 is capitalised and included in fixed assets.

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Taxation
The charity is exempt from corporation tax on its charitable activities.

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.

Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Cwmni Theatr Arad Goch

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

3. DONATIONS AND LEGACIES
31.3.24 31.3.23
as restated
£    £   
Donations 6,000 -
Grants 392,802 388,699
398,802 388,699

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

31.3.24 31.3.23
as restated
£    £   
Other grants 392,802 388,699


Cwmni Theatr Arad Goch

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INVESTMENT INCOME
31.3.24 31.3.23
as restated
£    £   
Deposit account interest 3,687 991
Other interest - 48
3,687 1,039

5. INCOME FROM CHARITABLE ACTIVITIES
31.3.24 31.3.23
as restated
Activity £    £   
Grants Project grants 50,000 124,829

Theatre tax relief

Production, development, workshop
costs

33,386

20,458

Performance fees

Production, development, workshop
costs

7,932

-
Performance fees Furtherance of primary objectives 30,094 41,298
Workshop & training
fees


Furtherance of primary objectives

13,086

6,405
Facilities & equipment
rental


Furtherance of primary objectives

14,089

17,983
148,587 210,973

Grants received, included in the above, are as follows:
31.3.24 31.3.23
as restated
£    £   
Project related grants 50,000 124,829


Cwmni Theatr Arad Goch

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. CHARITABLE ACTIVITIES COSTS
Support
Direct costs (see
Costs note 7) Totals
£    £    £   
Production, development,
workshop costs

500,718

183,923

684,641
Furtherance of primary
objectives

-

25,283

25,283
500,718 209,206 709,924

7. SUPPORT COSTS
Support Governance
costs costs Totals
£    £    £   
Production, development, workshop
costs

183,923

-

183,923

Furtherance of primary objectives - 25,283 25,283
183,923 25,283 209,206

8. NET INCOME/(EXPENDITURE)

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

31.3.24 31.3.23
as restated
£    £   
Depreciation - owned assets 38,322 33,726
Surplus on disposal of fixed assets (499 ) -

9. INDEPENDENT EXAMINERS' REMUNERATION

The independent examiner's remuneration constituted an examination fee of £1,500 (2023: £1,500) with an additional £2,250 (2023: £2,250) for accountancy, tax compliance and other non-examination related services.


Cwmni Theatr Arad Goch

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. 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.


11. RELATED PARTY TRANSACTIONS AND TRUSTEES' EXPENSES AND REMUNERATION
31.3.24 31.3.23
as restated
£    £   
Wages and salaries 313,184 291,214
Social security costs 17,675 14,112
Other pension costs 10,672 10,229
341,531 315,555

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

31.3.24 31.3.23
as restated
Actors & production 1 1
Technical & marketing 3 3
Administration & management 3 4
7 8

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

The trustees, in their capacity as such, give their time and expertise without any form of remuneration or other benefit in cash or kind. There were no expenses paid to the trustees in the year (2023: Nil).

The trustees consider its key management personnel to comprise the trustees, the Artistic Director and the Business Director, whom together, are responsible for the day-to-day operations of the theatre. The total employment benefits of the key management personnel were £87,377 (2023: £93,312)


Cwmni Theatr Arad Goch

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund funds funds
as restated
£    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 388,699 - 388,699

Charitable activities
Project grants - 124,829 124,829
Production, development, workshop costs
20,458

-

20,458
Furtherance of primary objectives 63,853 1,833 65,686

Investment income 1,040 (1 ) 1,039
Other income 973 - 973
Total 475,023 126,661 601,684

EXPENDITURE ON
Charitable activities
Production, development, workshop costs
483,083

7,122

490,205
Furtherance of primary objectives 25,187 - 25,187
Total 508,270 7,122 515,392

NET INCOME/(EXPENDITURE) (33,247 ) 119,539 86,292
Transfers between funds 28,393 (28,393 ) -
Net movement in funds (4,854 ) 91,146 86,292

RECONCILIATION OF FUNDS
Total funds brought forward
As previously reported 318,751 1,083,986 1,402,737
Prior year adjustment 23,319 - 23,319
As restated 342,070 1,083,986 1,426,056

TOTAL FUNDS CARRIED
FORWARD

337,216

1,175,132

1,512,348


Cwmni Theatr Arad Goch

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

13. PRIOR YEAR ADJUSTMENT

The 2023 prior year adjustments, amounting to £23,319 related to the inclusion of the 2021 and 2022 theatre tax credit claims within the financial statements.

The 2024 prior year adjustments, amounting to £63,250 related to the recognition of a restricted fund grants debtor.

14. TANGIBLE FIXED ASSETS
Opening
Freehold Plant and doors
property machinery assets
£    £    £   
COST
At 1 April 2023 1,178,700 348,966 931
Additions - 1,936 -
Disposals - - -
At 31 March 2024 1,178,700 350,902 931
DEPRECIATION
At 1 April 2023 156,765 327,087 898
Charge for year 23,574 4,763 6
Eliminated on disposal - - -
At 31 March 2024 180,339 331,850 904
NET BOOK VALUE
At 31 March 2024 998,361 19,052 27
At 31 March 2023 1,021,935 21,879 33

Cwmni Theatr Arad Goch

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

14. TANGIBLE FIXED ASSETS - continued
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 14,426 99,999 1,643,022
Additions 26,575 - 28,511
Disposals (1,995 ) - (1,995 )
At 31 March 2024 39,006 99,999 1,669,538
DEPRECIATION
At 1 April 2023 12,648 83,672 581,070
Charge for year 6,714 3,265 38,322
Eliminated on disposal (499 ) - (499 )
At 31 March 2024 18,863 86,937 618,893
NET BOOK VALUE
At 31 March 2024 20,143 13,062 1,050,645
At 31 March 2023 1,778 16,327 1,061,952

15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
as restated
£    £   
Trade debtors 7,846 3,839
Other debtors 33,423 43,825
Agor Drysau grant debtors 75,000 63,250
VAT 11,288 1,494
Accrued income 24,075 -
Prepayments 2,770 5,062
154,402 117,470


Cwmni Theatr Arad Goch

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
as restated
£    £   
Trade creditors 12,297 2,882
Social security and other taxes 3,742 1,002
Other creditors 1,708 -
Accrued expenses 15,750 3,750
33,497 7,634

17. SECURED DEBTS

The following security is held and detailed as being outstanding on the Companies House register:

A legal charge in favour of the Arts Council of Wales

Created: 1 December 2006

Details: charge over the freehold known as 'the Manse', Bath Street, Aberystwyth - t/no WA833924 and the Vestry schoolrooms, Bath Street, Aberystwyth t/no WA649146.

Amount secured: £2,092,933 and all other monies due or to become due.

A legal charge in favour of the Arts Council of Wales

Created: 8 July 2005

Details: charge over the freehold known as Unit 61, Glanyrafon Industrial Estate, Llanbadarn Fawr, Aberystwyth - t/no CYM194033.

Amount secured: £157,500 and all other monies due or to become due.

A legal charge in favour of the Arts Council of Wales

Created: 2 December 2004

Details: charge over the freehold property known as 'the Manse', Bath Street, Aberystwyth - t/no WA833924.

Amount secured: £232,754.00 and all other monies,obligations and liabilities due or to become due from the company to the chargee under the terms of the aforementioned instrument creating or evidencing the charge.


Cwmni Theatr Arad Goch

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

18. MOVEMENT IN FUNDS
Prior Net Transfers
year movement between At
At 1.4.23 adjustment in funds funds 31.3.24
£    £    £    £    £   
Unrestricted funds
General fund 337,216 - (51,675 ) 7,010 292,551

Restricted funds
Capital grants 1,024,019 - - (25,304 ) 998,715
Agor Drysau festival
project

87,803

63,250

(87,065

)

18,354

82,342
Tu fewn tu fas 75 - - (75 ) -
Clera (15 ) - - 15 -
1,111,882 63,250 (87,065 ) (7,010 ) 1,081,057
TOTAL FUNDS 1,449,098 63,250 (138,740 ) - 1,373,608

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

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 496,211 (547,886 ) (51,675 )

Restricted funds
Agor Drysau festival project 74,973 (162,038 ) (87,065 )

TOTAL FUNDS 571,184 (709,924 ) (138,740 )


Cwmni Theatr Arad Goch

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

18. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Prior Net Transfers
year movement between At
At 1.4.22 adjustment in funds funds 31.3.23
£    £    £    £    £   
Unrestricted funds
General fund 318,751 23,319 (33,247 ) 28,393 337,216

Restricted funds
Capital grants 1,047,803 - - (23,783 ) 1,024,020
Agor Drysau festival
project

36,183

-

111,974

2,895

151,052
Tu fewn tu fas - - - 75 75
Clera - - 573 (588 ) (15 )
Technical course - - 6,992 (6,992 ) -
1,083,986 - 119,539 (28,393 ) 1,175,132
TOTAL FUNDS 1,402,737 23,319 86,292 - 1,512,348

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

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 475,023 (508,270 ) (33,247 )

Restricted funds
Agor Drysau festival project 114,999 (3,025 ) 111,974
Clera 1,833 (1,260 ) 573
Technical course 9,829 (2,837 ) 6,992
126,661 (7,122 ) 119,539
TOTAL FUNDS 601,684 (515,392 ) 86,292

Material restricted funds

Capital Grant Fund
This represents capital grants received by the charity to be used for funding its building and equipment. A transfer is made on an annual basis to the general fund of an amount equal to the depreciation in the assets funded by the grant.

Opening Doors Project
This relates to a bi-annual festival organised by the charity to promote international actors, foreign dramatic activities and performances. The festival is funded by the Arts Council for Wales (ACW), Town Council and other sponsorships.

Cwmni Theatr Arad Goch

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

18. MOVEMENT IN FUNDS - continued

Material restricted funds - continued


Tu Fewn Fu Fas
Funding was received from Healthier Wales to take the production to primary schools in Powys, after a joint application for the funding was made by Arad Goch and Dyfed Powys Police. The production was shown to 90 schools in Powys during the year ended in March 2022.

Clera Ceredigion
Funding was received from Cynnal y Cardi in order to take the production around the communities of Ceredigion during the summer of 2021. The production had to keep to the strict Covid regulations which were in force at the time and was aimed at communities which had been starved of creative performances during 2021.

Technical Course
Funding was received from Ceredigion Council for the provision of two Welsh medium technical theatre courses. The courses took place during the first quarter of 2023.

19. EMPLOYEE BENEFIT OBLIGATIONS

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £10,673 (2023: £10,229).

20. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2024.

21. POST BALANCE SHEET EVENTS

The trustees confirm that there are no post balance sheet events to disclose (2023: Nil).