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Windybrow Theatre Annual Report 2015 / 2016 Presentation by: Ismail Mahomed CEO

Windybrow Theatre Annual Report 2015 / 2016 Presentation by: Ismail Mahomed CEO Christine McDonald CFO. HISTORY. Declared Cultural Institution in 2005 Suspended operations in March 2014 Market Theatre took over management 1 April 2014

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Windybrow Theatre Annual Report 2015 / 2016 Presentation by: Ismail Mahomed CEO

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  1. Windybrow Theatre Annual Report 2015 / 2016 Presentation by: Ismail Mahomed CEO Christine McDonald CFO

  2. HISTORY • Declared Cultural Institution in 2005 • Suspended operations in March 2014 • Market Theatre took over management 1 April 2014 • Qualified audit opinion 2014 and 2015 • Vacated premises for health reasons in March 2014 • Unqualified audit opinion 2016 • Declared Cultural Institution in 2005 withdrawn 1 April 2016 • Amalgamated with The Market Theatre Foundation 1 April 2016

  3. TRENDS 2016 2015 Productions* 12 2 Patrons 19 294 405 Theatre income R338 416 R101 279 Staff 13 17 *Productions were staged at the Market Theatre under the banner: “The Market Theatre and the Windybrow Theatre presents …”

  4. PRODUCTIONS Joint productions with the Market Theatre Foundation: • Page 27 • People are living there • As die broek pas • Crepuscule • The something prince • Lepatata • Cincinatti • Siva • Undone • Egoli • Songs from Jazztown • In my end, is my beginning

  5. UNCERTAINTIES Legal cases – Contingent liabilities • Dismissed CFO and CEO (R1,3 mil) • Summons received from one contractor (R20 mil plus interest at 15,5%)

  6. STAFFING Executive contract staff 2 General management 3 Other staff 6 Contract staff 2 Total 13 Windybrow staff are being amalgamated into The Market Theatre Foundation organogram as from 1 April 2016

  7. REACTIVATION OF WT • Contractor’s handover of the WT heritage house: end August 2016 • Rehearsals will commence at WT premises in August 2016 • WT Reactivation Strategy Session: 24 August 2016 • WindybrowHead appointment in final stages • Construction of the theatre and development of the remainder of the WT site will commence in 2019

  8. COUNCIL2015/16 Name of member Gender Race Kwanele Gumbi (Chairman) Male African Peter McKenzie Male Coloured Dr SebiletsoMokone-Matabane Female African Cedric Nunn Male Coloured NomshadoTwala Female African KopanoXaba Male African Annabell Lebethe (CEO) Female African

  9. AUDIT COMMITTEE MEETINGS MEMBER ATTENDED GENDER RACE T F Mosololi (Chair) 3 Male Black Dr S Mokone-Matabane 2 Female Black K Xaba 2 Male White M Maponya 4 Male Black J B Spector 1 Male White

  10. AUDIT REPORT • Unqualified Audit Report – after 2 years of qualified opinions • Emphasis of matter: Uncertainty regarding the law suits • Compliance with legislation: material misstatements of trade and other receivables and trade and other payables

  11. AUDIT FINDINGS • No internal audit function • Material adjustments to the financial statements • Understatement of trade creditors • Understatement of contingent liabilities • Programmes not linked to the budget • No standard operating procedures developed and implemented for performance information

  12. STATEMENT OF FINANCIAL POSITION 2016 2015 R R Property, plant etc 5 660 225 1 337 411 Trade receivables 214 151 177 795 Bank balances and cash 25 237 474 12 562 194 Total assets 31 111 850 14 077 400

  13. STATEMENT OF FINANCIAL POSITION 2016 2015 R R Equity and liabilities Capital grant reserve 5 287 585 666 629 Accumulated surplus (68 480) 1 846 791 Unutilised subsidies 24 059 184 10 958 745 Trade and other payables 1 833 561 602 675 Bank overdraft - 2 560 Total current liabilities 25 892 745 11 563 980 Total equity and liabilities 31 111 850 14 077 400

  14. STATEMENT OF FINANCIAL PERFORMANCE 2016 2015 R R Operating income 356 268 127 479 Government grant 17 415 956 11 452 962 Revenue for the year 17 772 22411 580 441 Personnel costs (4 848 595) (3 813 231) Administration expenses (10 217 945) (5 056 927) Surplus from operations 2 705 6842 710 283 Interest received - - Net surplus for the year 2 705 684 2 710 283

  15. STATEMENT OF CHANGES IN NET ASSETS Capital Donations Accumulated Surplus Total R R R Balance at 31 March 2014 (196 863) (196 863) Prior year adjustment Trf to capital donations reserve 666 629 (666 629) Surplus for the year 2 710 284 2 710 284 Balance at 31 March 2015 666 629 1 846 792 2 513 421 Surplus for the year 2 705 684 2 705 684 Trf to capital donations reserve 4 620 956 (4 620 956) Balance at 31 March 2016 5 287 585 (68 480) 5 219 105

  16. THANK YOU Any questions?

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