2023-04-02-accounts - Kingston Theatre Trust

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	INDEX
Legal Ik Administrative information		Pages 3-4
Trustees' Report		Pages 5 —15
Auditors' Report		Pages 16 - 20
Consolidated Statement of Financial Activities		Page 21
Balance Sheets (consolidated	and company)	Page 22
Statement ofCash Flows		Page 23
Notes to the financial statements
(consolidated and company)		Pages 24 —45

AUDITORS		Moore (South) LLP
		Registered Auditors	and Chartered	Accountants
		Suite 3,Second Floor
		Friary Court
		13-21High Street
		Guildford
		Surrey
		GU13DG
BANKERS		Charities Aid Foundation
		West Mailing
		Kent ME19 4TA
		NatWest Bank pic
		Market Place
		Kingston upon Thames
		KT1 AX
		Metro Bank pic
		64-66 Clarence Street
		Kingston upon Thames
		KT1 1NP
SOLICITORS		Russell-Cooke LLP
		2 Putney Hill
		London
		SW15 6AB
REGISTERED	OFFICE	24-26 High Street
		Kingston upon Thames
		KT1 1HL
REGISTERED	CO. NUMBER	02497984
REGISTERED	CHARITY NO.	1000182

				Restricted	Restricted	Unrestricted	TOTAL	TOTAL
				Capital	Revenue
		Note		2023	2023	2023	2023	2022
				E	E	E	6	E
Income from:
Oonations and legacies				88,515	102,529	114,979	306,023	1,682,779
Charitable activities						3,696,940	3,696,940	1,911,938
Other trading activities						149,880	149,880	36,226
Investments						1,853	1,853	106
Total Income				88,515	102,529	3,963,652	4,154,696	3,631,049
Expenditure on:
Raising funds			6	1,029		172,979	174,008	182,113
Charitable activities			7	42,257	56,572	3,843,511	3,942,340	3,093,321
Other			10			28,806	28,806	25,957
Total expenditure				43,286	56,572	4,045,296	4,145,154	3,301,391
Net Income				45,229	45,957	(81,644)	9,542	329,658
Transfer between	funds
Net movements	in funds			45,229	45,957	(81,644)	9,542	329,658
Reconciliation offunds:
Total funds brought forward				509,456	46,661	932,148	1,488,265	1,158,607
Total funds carried forward				554,685	92,618	850,504	1,497,807	1,488,265

				Note	2023	2022	2023	2022
					2 April	3 April	2April	3April
					Group	Group	Trust	Trust
					6	6	6	6
Fixed assets
Tangible Assets				15a	1,809,526	1,554,947	1,809,526	1,554,947
Investments				15b				1
					1,809,527	1,554,948	1,809,527	1,554,948
Current assets
Stock				16	93,316	41,604	93,316	41,604
Debtors				17	651,874	489,275	682,042	544,941
Cash at bank		and	m hand		421,037	1,040,626	295,307	879,059
					1,166,227	1,571,505	1,070,665	1,465,604
Creditors
Amounts falling due withm one year				18	1,477,947	1,638,188	1,382,385	1,532,287
					1,477,947	1,638,188	1,382,385	1,532,287
Net current	liabilities				(311,720)	(66,683)	(311,720)	(66,683)
Net assets					1,497,807	1,488,265	1,497,807	1,488,265
Charity funds
Unrestncted		Funds —general		20	850,504	932,148	850,504	932,148
					850,504	932,148	850,504	932,148
Restricted	Funds			20	647,303	556,117	647,303	556,117
Total charity		funds			1,497,&07	1,488,265	1,497,807	1,488,265

						Note	2023	2022	2023	2022
							2 April	3April	2Aprg	3April
							Group	Group	Trust	Trust
							E	E	E	E
Cash flows from operating	activities
Net cash provided by operating		activities				26	(286,328)	590,368	(250,491)	470,323
Cash flows from Investing	activities
Dividends and interest from investments				and bank			1,853	106	1,853	106
purchase ofproperty, plant	and	equipment					(335,114)	(15,050)	(335,114)	(15,050)
Investment in production								(1)
Disposal of production
Net cash used ln Investing	activities						(333,261)	(14,945)	(333,261)	(14,944)
Change in cash and cash equivalents			In the
reporting period							(619,589)	575,423	(583,752)	455,379
Cash and cash equivalents	at the	beginning			of
reporting period							1,040,626	465,203	879,059	423,680
Cash and cash equivalents	at the end		of	the
reporting period							421,037	1,040,626	295,307	879,059

Income from donations and legacies
	2023	2022
	E
Unrestricted
Donations	114,979	124,659
Grants		496,625
	114,979	621,284
Restricted
Donations	49,759	26,880
Grants	141,285	1,034,615
	191,044	1,061,495
	306,023	1,682,779

								2023	2022
								f	f
Boxoffice income								2,436,746	1,226,755
Programme,		catering	and	hires		income		468,402	232,376
Stakeholder		support						553,900	230,000
Learning	gr	participation		income				237,892	222,807
								3,696,940	1,911,938
All income		from charitable			activities		for 2023 and 2022 was unrestricted.
Included	within stakeholder				support		isfNil ofgovernment	funding (2022-f230 000) received from the Royal Borough
of Kingston.
Income from other trading					activities
								2023	2022
								f.	f
Fundraising		events						50,992	1,486
Royalties	and touring		productions					14,065	10,395
Trading	subsidiaries							84,823	24,345
								149,880	36,226
All income		from other	trading			activities for 2023 and 2022		was unrestricted.
Income	from investments
								2023	2022
									f
Interest	receivable							1,853	106
								1,853	106

Analysis of	expenditure
		2023	2022
		E	E
Fundraising	costs ofgrants and donations:
Fundraisers	fees and salaries	75,786	88,070
Other direct	costs	23,328	5,317
Support costs (note 8)		73,865	87,295
Depreciation	(note 9)	1,029	1,431
		174,008	182,113

			BoxOffice &		Front of
			ploducuon	Learning &	House &	Total	Total
			Income	Participation	Catering	2023	2022
			E	f	E	E	E
Productions			2,190,722			2,190,722	1,534,072
Learning	ik Participation			226,562		226,562	208,278
Front of	House, Catering &Hires				335,613	335,613	141,317
Support	costs	(note 8)	874,577	100,081	135,279	1,109,937	1,146,760
Depreciation		(note 9)	28,116	5,238	46,152	79,506	62,894
			3,093,415	331,881	517,044	3,942,340	3,093,321

Allocation	ofsuppo	rt costs
					BoxOffice R		Front of
			Basis of	Raising	Production	Learning R	House R.	Tota I	Total
		Allocation		Funds	Income	Production	Catering	2023	2022
				f	f	f	6	f	6
Marketing			Time	13,854	207,804	22,166	33,249	277,073	331,147
BoxOffice		BO	Income	12,311	206,478	21,513		240,302	200,781
Premises		Gross	revenue
		generated by
		business	activity	20,078	294,784	28,779	56,665	400,306	429,404
Management	R
Central resource			Time	21,769	141,504	21,770	32,655	217,698	222,809
IT		I-leadcount		5,615	22,459	5,615	12,353	46,042	43,372
Other		Time as per
		management &
		central resources		238	1,548	238	357	2,381	6,541
				73,865	874,577	100,081	135,279	1,183,802	1,234,054
Allocation ofdepreciation
					BoxOffice R		Front of
			Basis of	Raising	Production	Learning R.	House R	Total	Tota I
		Allocation		Funds	Income	Production	Catering	2023	2022
				f	6	f	6	f	f
Leasehold		Gross	revenue
		generated by
		busmess	activity	534	7,849	766	1,509	10,658	10,658
Berg Frontof		Identifiable
House equipment			assets				39,485	39,485	26,856
Boiler refurbishment		Gross	revenue
		generated by
		business	activity	494	7,258	709	1,395	9,856	9,856
Auditonum	project	Identifiable
			assets		13,010			13,010	9,429
Gallery project		Identifiable
			assets			3,763	3,763	7,526	7,526
				1,028	28,117	5,238	46,152	80,535	64,325

Other costs
				2023	2022
				f	f
Governance costs
External audit				13,350	13,000
Other fees paid to auditors				170	160
Other taxation advice				5,250	4,533
Indemnity Insurance				1,882	1,297
Legal and professional	charges			8,154	6,967
				28,806	25,957
All expenditure on other		costs for 2023 and 2022 was unrestricted.
Net income/ (expenditure)			for the year
This is stated after charging			the following:
				2023	2022
				E	E
Operating lease rentals				98,840	57,638
Depreciation				80,535	64,325
Profit on disposal offixed			assets	495
Auditors remuneration		—Audit		13,500	13,000
Auditors remuneration		- Other services		170	160
Staff and artists' costs				2,044,738	1,644,646

			2023	2022
Key	management	remuneration	255,052	272,534

The average monthly	headcount	dur	ing	th	e	year
								2023	2022
								Number	Number
								3	3
Raising funds Charitable activities								61 1	45 1
Governance
								65	49
The average monthly number average number of employees average number refers to the		of employees on permanent contract on short term and casual contracts number of individual employees each					during the year was 30 people during the year was 30 people week irrespective ofthe number		(2022 —31). The (2022 —18). The of hours worked.
Employees who earned over f60,000				in the		year:		2023	2022
								Number	Number
E60,000 —f70,000
E70,000-f80,000
f80.000 - E90,000
The total staff costs	and employee		benefits			was as follows:		2023	2022
								f	f
Wages and salaries Sooal security costs Pension costs								1,341,917 115,201 23,391	1,208,558 97,943 22,173
								1,480,509	1,328,674
Staff recruitment costs Amounts paid to third parties Amounts paid to third parties		for for	artists' artists'		fees lk consultancy pension costs			4,155 552,012 8,062	1,625 310,647 3,700
								2,044, 738	1,644,646

Tangible fixed assets
		Group			TIust
	Leasehold			Leasehold
	Property f	Equipment f	Total f	Property f	Equipment f	Total f
Cost
At 3 April 2022	1,334,583	929,056	2,263,639	1,334,583	929,056	2,263,639
Additions		335,114	335,114		335,114	335,114
Disposals		(1,500)	(1,500)		(1,500)	(1,500)
At 2 April 2023	1,334,583	1,262,670	2,597,253	1,334,583	1,262,670	2,597,253
Depreciation
At 3 April 2022	151,900	556,792	708,692	151,900	556,792	708,692
Charge for period	10,658	69,877	80,535	10,658	69,877	80,535
Eliminated on disposals		(1,500)	(1,500)		(1,500)	(1,500)
At 2 April 2023	162,558	625,169	787,727	162,558	625,169	787,727
Net book value
At 2 April 2023	1,172,025	637,501	1,809,526	1,172,025	637,501	1,809,526
At 3 April 2022	1,182,683	372,264	1,554,947	1,182,683	372,264	1,554,947

Fixed asset Investments
	Shares In group
	Undertakings
Investments	f
Costs
At 3April 2022 and 2 April 2023
Net BookValue
At 2 April 2023
At 3 April 2022

Stocks
		Group	Group	Trust	Trust
		2023	2022	2023	2022
		f	E	E	f
Stocks for resale		5,393	4,484	5,393	4,484
Closing	WIP	87,923	37,120	87,923	37,120
		93,316	41,604	93,316	41,604
Debtors
		Group	Group	Trust	Trust
		2023	2022	2023	2022
		E	E	E	E
Trade debtors		67,460	151,422	47,610	88,586
Amount	owed by group undertaking			484,805	292,716
Accrued	income	52,257	119,483	52,257	119,483
Theatre	Tax Credit and Gift Aid	434,946	166,633	6,170
Other debtors			7,309		309
Prepaid	expenses	97,211	44,428	91,200	43,847
		651,874	489,275	682,042	544,941

					Group	Group	Trust	Trust
					2023	2022	2023	2022
					E	E	E	E
Trade creditors					482,835	228,339	482,835	221,690
BoxOffice advance					391,360	738,387	391,360	738,387
Other tax and social security:
VAT					52,215	29,430	21,615	22,951
PAVE					28,304	31,641	28,304	31,641
Other creditors
Accruals and deferred		income:
Accrued expenses					321,500	350,209	258,188	303,986
Deferred income					201,733	260,182	200,083	213,632
					1,477,947	1,638,188	1,382,385	1,532,287
The movement in deferred			income	is as follows:
					Group	Group	Trust	Trust
					2023	2022	2023	2022
						E	E	E
Balance at 3 April 2022					260,182	274,000	213,632	274,000
Amounts deferred	in the period				388,736	260,182	316,328	213,632
Amount released to incoming resources					(260,182)	(274,000)	(213,632)	(274,000)
Balance at 2 April 2023					388,736	260,182	316,328	213,632

			Property		Equipment
			2 April	3 April	2 April	3 April
			2023	2022	2023	2022
			E	6	E
Less	than	1year	30,000	30,000	11,925	43,725
Later	than	one and not later than five years

GROUP			Balance	Incoming	Outgoing		Closing
			8/F 3 April	Resources	Resources	Transfers	2 April
			2022				2023
			E				f
Capital Fund
Boiler			34,093		(9,856)		24,237
Auditorium and	Front of House		407,627	88,515	(25,904)		470,238
Gallery performance		space	67,736		(7,526)		60,210
Total Capital Fund			509,456	88,515	(43,286)		554,685
Restricted Revenue		Fund
Let Me In Festival			3,373				3,373
Intern Scheme			2,500	1,000		(3,500)
Bursary Scheme			913	4,834	(2,140)		3,607
Peter Hall Emerging		Artist Fellowship	34,567	2,675	(2,500)		34,742
Youth Outreach			1,523	1,250	(4,585)	3,500	1,688
Christmas Tree				252	(252)
New Writing Festival			186				186
Participate Fund			1,543	173			1,716
Access Fund			2,056	4,576	(2,096)		4,536
Production Funding				87,770	(45,000)		42,770
Total Restricted	Revenue Fund		46,661	102,530	(56,573)		92,618
General Fund			932,148	4,157,284	(4,238,928)		850,504
Total			1,488,265	4,348,329	(4,338,787)		1,497,807

GROUP						Balance	Incoming	Outgoing		Closing
						8/F 31March	Resources	Resources	Transfers	3 April
						2021				2022
						f				f
Capital Fund
Boiler						43,949		(9,856)		34,093
Auditorium and	Front		of	House		163,056	252,000	(11,429)	4,000	407,627
Gallery performance		space				75,262		(7,526)		67,736
Total Capital Fund						282,267	252,000	(28,811)	4,000	509,456
Restricted Revenue		Fund
Let Me In Festival						3,373				3,373
Intern Scheme						2,500				2,500
Bursary Scheme						2,002	1,240	(3,580)	1,251	913
Peter Hall Emerging		Artist		Fellowship		24,023	15,694	(5,150)		34,567
Youth Outreach						11,081	1,350	(10,908)		1,523
Christmas Tree							297	(297)
New Writing Festival						186				186
Participate Fund						1,251	1,543		(1,251)	1,543
ACE/DCMS Culture		Recovery Fund					468,115	(468,115)
ACE/DCMS Emergency			Response		Fund		300,000	(300,000)
Feasibility Study	Front		of	House		20,000		(16,000)	(4,000)
Access Fund							4,756	(2,700)		2,056
UK Theatre Love	Your		Local Theatre				16,500	(16,500)
Total Restricted	Revenue			Fund		64,416	809,495	(823,250)	(4,000)	46,661
General Fund						811,924	2,569,554	(2,449,330)		932,148
Total						1,158,607	3,631,049	(3,301,391)		1,488,265

TRUST			Balance	Incoming	Outgoing		Closing
			8/F 3April	Resources	Resources	Transfers	2 April
			2022				2023
			E				E
Capital Fund
Boiler			34,093		(9,856)		24,237
Auditorium and	Front of House		407,627	88,515	(25,904)		470,238
Gallery performance		space	67,736		(7,526)		60,210
Total Capital Fund			509,456	88,515	(43,286)		554,685
Restricted Revenue		Fund
Let Me In Festival			3,373				3,373
Intern Scheme			2,500	1,000		(3,500)
Bursary Scheme			913	4,834	(2,140)		3,607
Peter HalI Emerging		Artist Fellowship	34,567	2,675	(2,500)		34,742
Youth Outreach			1,523	1,250	(4,585)	3,500	1,688
Christmas Tree				252	(252)
New Writing Festival			186				186
Participate Fund			1,543	173			1,716
Access Fund			2,056	4,576	(2,096)		4,536
Production Funding				87,770	(45,000)		42,770
Total Restricted	Revenue Fund		46,661	102,530	(56,573)		92,618
General Fund			932,148	4,157,284	(4,238,928)		850,504
Total			1,488,265	4,348,329	(4,338,787)		1,497,807

Prior period;
TRUST						Balance	Incoming	Outgoing		Closing
						8/F 31March	Resources	Resources	Transfers	3 April
						2021				2022
						f				f
Capital Fund
Boiler						49,949		(9,856)		34,093
Auditorium and	Front		of House			163,056	252,000	(11,429)	4,000	407,627
Gallery performance		space				75,262		(7,526)		67,736
Total Capital Fund						282,267	252,000	(28,811)	4,000	509,456
Restricted Revenue		Fund
Let Me In Festival						3,373				3,373
Intern Scheme						2,500				2,500
Bursary Scheme						2,002	1,240	(3,580)	1,251	913
Peter Hall Emerging		Artist		Fellowship		24,023	15,694	(5,150)		34,567
Youth Outreach						11,081	1,350	(10,908)		1,523
Rent
Christmas Tree							297	(297)
New Writing Festival						186				186
Participate Fund						1,251	1,543		(1,251)	1,543
ACE/DCMS Culture		Recovery Fund					468,225	(468,115)
ACE/DCMS Emergency			Response		Fund		300,000	(300,000)
Feasibility Study	Front		of	House		20,000		(16,000)	(4,000)
Access Fund							4,756	(2,700)		2,056
UK Theatre Love	Your		LocalTheatre				16,500	(16,500)
Total Restricted	Revenue			Fund		64,416	809,495	(823,250)	(4,000)	46,661
General Fund						811,924	2,569,554	(2,449,330)		932,148
Tota I						1,158,607	3,631,049	(3,031,391)		1,488,265

					Restricted
			General	Capital	Revenue	Designated	Total
			Fund	Fund	Fund	Fund	Fund
			E				E
Tangible fixed assets			1,254,841	554,685			1,809,526
Cash			328,419		92,618		421,037
Other assets			(732,756)				(732,756)
			850,504	554,685	92,618		1,497,807
Prior period:
					Restricted
			General	Capital	Revenue	Designated	Total
			Fund	Fund	Fund	Fund	Fund
			E				E
Tangible fixed assets			1,045,491	509,456			1,554,947
Cash			993,465		47,161		1,040,626
Other assets			(1,107,308)				(1,107,308)
			932,148	509,456	47,161		1,488,265
Pension and other post-retirement			benefit commitment
Defined Contribution
					2023		2022
					E
Contributions	payable	by the charity	in the period		23,391		25,873

					Group	Group	Trust	Trust
					2023	2022	2023	2022
					6	6	6	6
	Financial assets
	Debt instruments measured	at	amortised	cost:
	-Trade debtors (note 17)				67,460	151,422	47,610	88,587
	-Amounts owed by group undertakings			(note 16)			484,805	292,717
	-Other debtors (note 17)					7,309		309
	-Accrued income (note 17)				52,257	119,483	52,257	119,483
	- Cash in hand and at bank				421,037	1,040,626	295,307	879,058
					540,754	1,318,840	879,979	1,380,154
	Financial liabilities
	Measured at amortised cost:
	-Trade creditors (note 18)				482,835	228,339	482,835	221,690
	-Accrued expenses (note 18)				321,500	350,209	258,188	303,986
					804,335	578,548	741,023	525,676
26	Reconciliation ofconsolidated		net income to net cash		flow from operating	activities
					Group	Group	Trust	Trust
					2023	2022	2023	2022
					6	6	6	6
	Net income for the reporting	period			9,542	329,658	9,542	329,658
	Adjustments for:
	Depreciation charges				80,535	64,325	80,535	64,325
	Loss on disposal offixed assets
	Dividends and interest from investments			and bank	(1,853)	(106)	(1,853)	(106)
	(Increase) /decrease in stock				(51712)	(11,351)	(51,712)	(35,909)
	(Increase) / decrease in debtors				(162,599)	(313,810)	(137,101)	(319,859)
	Increase / (decrease) in creditors				(160,241)	521,652	(149,902)	432,214
	Net cash provided by operating		activities		(286,328)	590,368	(250,491)	470,323