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2023-03-31-accounts

BLACKPOOL GRAND THEATRE (ARTS & ENTERTAINMENTS) LIMITED

GROUP ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR

THE YEAR ENDED MARCH 31 2023

Company number 02825229 Charity number 1022754

BLACKPOOL GRAND THEATRE (ARTS & ENTERTAINMENTS) LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2023

INDEX
Chair’s foreword 1
Administrative information 2
Trustees’ and Directors’ annual report 3 – 8
Auditors’ report 9 – 11
Group Statement of financial activities 12
Charity statement of financial activities 13
Group balance sheet 14
Charity balance sheet 15
Statement of cash flows 16
Notes to the financial statements 17 – 32

BLACKPOOL GRAND THEATRE (ARTS & ENTERTAINMENTS) LIMITED CHAIR’S FOREWORD FOR THE YEAR ENDED MARCH 31 2023

I’m delighted to write this report after what has been an incredible year for our theatre. We have enjoyed some first-rate productions on our stage, including Beautiful – The Carole King Musical , Titanic the Musical , The Rocky Horror Show , Ian Hislop and Nigel Newman’s Spike and ThickSkin’s How Not to Drown , to name just a few. More rewardingly these shows, and many others, have driven a fantastic financial result. This of course includes a bumper, record-breaking pantomime – Sleeping Beauty - in our collaboration with Martin Dodd of UK productions, and our very own Steve Royle, which this year also featured local talent Hayley Tamaddon in the company.

The theatre has continued to contribute to the economic life of Blackpool, particularly the night-time economy. Our economic impact, calculated using the Shellard Formula, is £8m a year. More importantly perhaps, The Grand has continued to deliver a positive impact to the life of our children and young adults, through the work of our first-class creative learning and development team, for which we receive national recognition.

I was delighted that the team achieved some notable commendations this year including the Leadership for Growth Award at the 2022 North West SME Growth and Innovation Awards, as well as finalist in The Stage 2023 Awards in the category of Community Project of The Year. As I write, The Grand is celebrating a prestigious win having scooped the Excellence in Arts Education Award at the 2023 UK Theatre Awards, recognising the unique and transformational impact of our Story Led Resilience programme.

Of course, none of this would be possible without the hard work and dedication of the whole team. Our CEO Adam Knight has led the theatre in a way that I can only admire, and for which he deserves every credit.

I wish also to note the magnificent support I received from the Board of Trustees. However, the greatest thanks must go to our audiences, who have so clearly shown how much the Grand Theatre means to the communities we serve.

This will be my last report as I will retire from the Board in December this year. I must thank everyone connected with the theatre for their magnificent support, in particular Adam, Ruth Eastwood, and Neil Thomson, the CEO’s I have had the privilege to work with. It has been one of the most rewarding times in my life, and I will be forever grateful that I was offered this opportunity.

With very best wishes for the future of this magnificent charity.

Anthony P Stone LALAM – Chair

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BLACKPOOL GRAND THEATRE (ARTS & ENTERTAINMENTS) LIMITED ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED MARCH 31 2023

DIRECTORS & TRUSTEES Anthony Stone (Chair) Anthony Depledge (Vice Chair) Peter Akroyd Michelle Amos (appointed 10/09/22) Alistair Armit (appointed 04/06/22) Glenn Mascord Karen Metcalfe (appointed 10/09/22) Jeanette Pope (appointed 09/09/22) Anne Royle Martin Scragg (appointed 10/09/22) Susan Walker Phillip Welsh SENIOR MANAGEMENT TEAM Adam Knight Chief Executive Mark Preston Head of Finance & Business Colin Johnston Deputy CEO Andrew Howard Head of Audiences, Marketing & Sales Celine Wyatt Head of Creative Learning Shaun Gorringe Operations Manager REGISTERED OFFICE AND The Grand Theatre PRINCIPAL PLACE OF BUSINESS 33 Church Street Blackpool Lancashire FY1 1HT AUDITORS AND ACCOUNTANTS HGA Accountants & Financial Consultants t/a Chittenden Horley Chartered Accountants & Registered Auditors Hyde Park House Cartwright Street SK14 4EH BANKERS Charities Aid Foundation CAF Bank National Westminster Bank plc

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BLACKPOOL GRAND THEATRE (ARTS & ENTERTAINMENTS) LIMITED TRUSTEES’ AND DIRECTORS’ ANNUAL REPORT FOR THE YEAR ENDED MARCH 31 2023

The trustees present their annual report together with the financial statements of the group and the charity for the year ended March 31 2023, which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.

REPORTING FRAMEWORK

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and 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 (FRS102) (effective 1 January 2019), referred to as the Charities SORP (FRS 102) (second edition – October 2019).

OBJECTIVES AND ACTIVITIES

Charitable objects

The charitable objectives are:

Activities

The Grand Theatre (A&E) Ltd fulfilled its charitable purposes to promote, maintain, improve, assist and advance public education, appreciation and understanding of the arts in the following ways:

Public Benefit

Blackpool Grand Theatre creates public benefit by offering artistic, educational and heritage opportunities to enjoy, participate and learn through shared experiences, both in person and via virtual platforms. It is our mission to inspire a life-long love of [the] theatre.

Working in partnership is central to our success in creating public benefit. We work with schools, social justice specialists, the care system, local authorities, and private businesses to ensure we reach as wide a public as possible with our offer. This also enables us to help other organisations, which share our values, to achieve their planned outcomes by sharing our skills and methods to become more effective together. This wide range of mutually beneficial outputs includes funding contributions, commissions, in kind support and advocacy.

Blackpool Grand Theatre’s active partnerships include: Blackpool English Hub, Blackpool Children’s and Social Services, Blackpool School Improvement Board, Blackpool Research and Evaluation Team, Arts & Humanities Research Team, Better Start, Head Start, Boing Boing, Children’s Theatre Partnership, The Royal Shakespeare Company (RSC), Sadler’s Wells Breakin’ Convention, The Royal Opera House, Nottingham Playhouse, PW Productions/Bristol Old Vic, National Theare Connections, Gary Clarke Company, Northern Broadsides, ThickSkin, Emmerson & Ward, 20 Stories High, New Queers, The Knotted Project, The Lightpool Festival, Blackpool Pride, Blackpool and The Fylde College, The Boathouse Youth, The Magic Club, Blackpool and Fylde Carers Centre, At The Grange, Arts Lancashire, Lancashire County Council Culture, Blackpool Library Service, Grundy Art Gallery, and representation on the steering groups of Blackpool Cultural Strategy, LeftCoast, Blackpool Town Centre BID, The Blackpool, Fylde and Wyre Local Cultural Education Partnership (LCEP), Curious Minds, Dance Consortia North West, Venues North, UK Theatre, RB Health & Safety Solutions, TRG Arts, and Data Culture Change.

The Grand contributes to the economic life of Blackpool, particularly the night-time economy, with our economic impact, calculated using the Shellard Formula, representing £8m a year. Whilst it is acknowledged that general economic recovery from the Covid-19 pandemic, global energy price inflation, and cost of living crisis will take some time, Blackpool Grand Theatre has continued to adapt to new ways of working. Using a blend of digital and social outlets and innovative audience development initiatives, we continue to re-engage with patrons, encouraging their return to live performances while continuing to create and deliver public benefit.

Through the positive and powerful impact of our transformational and award-winning work in the community, amplified by productive partnership working, Blackpool Grand Theatre continues to enhance our reputation throughout Blackpool and beyond as a nationally recognised local resource.

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BLACKPOOL GRAND THEATRE (ARTS & ENTERTAINMENTS) LIMITED TRUSTEES’ AND DIRECTORS’ ANNUAL REPORT FOR THE YEAR ENDED MARCH 31 2023

Making a difference in Blackpool’s community

Despite the economic challenges of the 2022-23 financial year, Blackpool Grand Theatre has continued to deliver work with over 3,500 vulnerable children and young people. Some of these children and young people are looked after or experiencing life in care, some living with complex and chaotic circumstances, and some of them are young carers living in Blackpool’s communities with social and economic challenges: all with vivid imaginations, energy and creativity.

During the period 1[st] April 2022 to 31[st] March 2023, The Grand has worked with 1,380 children (aged 7-11) and there were 15,397 separate attendances at drama workshops. These formal learning sessions included the Goldsmiths’ Company Charity funded ‘ Tales Retold ’ programme and the RSC Associate Schools Programme. There were 3,148 separate attendances from participants aged 0- 20+ engaged with Blackpool Grand Theatre across 159 sessions, which included our flagship Story Led Resilience projects ‘ Illuminate ’ and ‘ Story Squad’ and our early years programme. In total 2,550 participants took part, with 400 drama sessions delivered over the two main schools projects. Our activities saw 1,080 children perform to public audiences on The Grand’s stage.

Of the 128 productions presented on stage during the 2022-23 financial year, 17 had content specifically designed for children and young people. Out of a total of 355 performances, over 30% (111) of performances were programmed for children and young people.

The transformational impact of our Story Led Resilience Programme within Blackpool’s communities was recognised and rewarded with a prestigious shortlist nomination for The Stage Awards 2023 Community Project of The Year.

ACHIEVEMENTS AND PERFORMANCE

At the start of May 2022, Blackpool Grand Theatre welcomed new Chief Executive Adam Knight, joining the organisation direct from HQ Theatres/Trafalgar Entertainment where he was Theatre Director of Crewe Lyceum, Cheshire’s landmark Edwardian theatre.

Having applied to Arts Council England for the continuance of our National Portfolio Organisation status and funding in May 2022, Blackpool Grand Theatre was delighted to receive notification in November 2022 of a significant uplift in funding for the 2023-26 period, rising from £253,000 per annum to £453,000 from 1[st] April 2023, in what was a hotly contested funding round.

In addition to our principal funder, Arts Council England, we are grateful to Blackpool Council for their continuing support, and to our key project funders including The Esmée Fairbairn Foundation, The Ragdoll Foundation and The Goldsmith’s Company Charity without whose flexibility, understanding and support, we would have faced significant challenges in continuing our invaluable work supporting some of the most vulnerable, socially- and economically-disadvantaged members of our community including children, young people and families in Blackpool.

In July 2022 we welcome Lady Anne Dodd to Blackpool Grand to unveil a specially commissioned bronze bust of Sir Ken Dodd OBE. Commissioned by The Friends of The Grand to celebrate him as an original ‘Friend of The Grand’. The bust was created by ‘The People’s Sculptor’, Graham Ibbeson (perhaps best known for his statue of Eric Morecambe). The unveiling event was a huge success, welcoming comedians and contemporaries of Sir Ken including Ricky Tomlinson, Mick Miller and Roy Walker, and receiving a considerable amount of press attention including coverage on ITV Granada Reports and BBC News and Radio Lancashire.

Programme Highlights – “More Stories for More People”

Blackpool Grand Theatre’s season announcement under new Chief Executive included the return of major musicals to our magnificent Matcham auditorium including Bill Kenwright’s evergreen production of Dreamboats and Petticoats starring 1960s pop icon Mark Wynter; Mollie Grace-Cutler delivered a stellar performance leading an outstanding company of actor-musicians in the title role of Beautiful – The Carole King Musical (directed by Nikolai Foster, presented by Made At Curve, Theatre Royal Bath and Mayflower Theatre Southampton); the 50[th] Anniversary production of The Rocky Horror Show starring Stephen Webb as Frank’n’Furter (presented by Trafalgar Entertainment), and Thom Southerland’s outstanding ensemble production of Titanic The Musical produced by Danielle Tarento and Michael Ockwell (for the Mayflower Theatre Southampton).

The Grand’s drama audiences were treated to new productions including Blackeyed Theatre’s Sherlock Holmes and the Valley of Fear , Karl Sydow, Trademark Films and PW Productions presentation of the Watermill Theatre’s absurdly funny production of Spike , written by Ian Hislop and Nigel Newman (who attended the opening night and led a hugely insightful post-show discussion on the life of Spike Milligan with members of the cast and audience).

The Grand was proud to welcome new work from some of the UK’s most exciting theatre companies including the award-winning ThickSkin with Neil Bettles production of How Not to Drown , an autobiographical play by Dritan Kastrati and Nicola McCartney telling the painful yet uplifting true story of an eleven-year-old unaccompanied asylum-seeker arriving in the UK. In the Studio, we welcomed Emmerson & Ward with three LGBTQ focused pieces of work: Riot Act by Alexis Gregory, The MP, Aunty Mandy & Me by Rob Ward and a work in progress sharing of Sam Danson’s Bi-Topia directed by Rikki Beadle Blair MBE. In November, a main stage takeover by acclaimed Liverpool-based company 20 Stories High saw an invited audience of young people from Blackpool’s communities beat-boxing with cast members in a post-show jam for the acclaimed gig-theatre production of Touchy + Anthology .

Our on-stage programme was complemented by several high-profile hires of the auditorium, including by locally-based firm Beaverbrooks for a Rolex product launch, where guests were treated to dinner on stage, and the fruition of the latest in a number of location shoot enquiries, this time seeing The Grand’s magnificent auditorium as backdrop for the new ITV production Archie , featuring Jason Isaacs as ‘Cary Grant’, as well as for the new Brian Epstein feature film biopic Midas Man .

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BLACKPOOL GRAND THEATRE (ARTS & ENTERTAINMENTS) LIMITED TRUSTEES’ AND DIRECTORS’ ANNUAL REPORT FOR THE YEAR ENDED MARCH 31 2023

Building on the success of 2022’s pantomime, Sleeping Beauty , presented in association with Martin Dodd’s UK Productions, once again broke box office records proving The Grand as the rightful home to Blackpool’s no.1 panto! Audiences flocked to see Steve Royle and local West End and TV star Hayley Tamaddon lead a first-class company, underlining the value of the shared, family experience, that cannot be created by anything other than live entertainment. Together with an extended Blackpool Illuminations season, and despite rising energy bills and a looming cost of living crisis, The Grand’s pantomime proved to be a beacon of hope bringing families together again for much needed festive family cheer.

Awards, Nominations and Recognition

Blackpool Grand Theatre was successful in winning the Leadership for Growth Award at the North-West SME Growth and Innovation Awards, hosted by Edge Hill University, with the Senior Management Team attending the black-tie awards ceremony at the Southport Convention Centre in November 2022. In January 2023, The Grand was proud to be finalist in The Stage Awards 2023 in the category of ‘Community Project of the Year’ in respect of our Story Led Resilience Programme. The prestigious awards ceremony took place at Theatre Royal Drury Lane recognising the UK theatre industry’s most outstanding creative and project talent. The work of our creative learning and development team was once again recognised, this time by the Local Government Association’s Commission on Culture and Local Government, with a published case study: “Illuminate – shining the light on young people’s voices”; celebrating the success of Blackpool Grand Theatre’s programme of work with looked-after children and children in care. Mark Preston, Head of Finance & Business, has been nominated as a finalist for Finance Director of The Year in the 2023 Accounting Excellence Awards. As this report goes to print, Blackpool Grand Theatre celebrates winning the 2023 UK Theatre Award for Excellence in Arts Education in respect of our Story Led Resilience programme: “a remarkable and unique initiative using arts education to strengthen resilience and build confidence”.

FINANCIAL REVIEW

Overview

The group had a surplus on unrestricted general funds, after transfers, for the year of £68,760 (Charity £68,773) compared with a surplus in the previous year of £125,366 (Charity £125,366). This is in part due to the additional funding secured during the year to meet the challenges of the pandemic, and the prompt actions taken to control and reduce costs.

Trading subsidiaries

The Charity has three wholly owned subsidiaries: Blackpool Grand Theatre Catering Company Ltd (Catering), Showseats Ltd. and Blackpool Grand Productions Ltd (BGP). Showseats Ltd continued to be dormant. Blackpool Grand Productions Ltd, which was formed as a production company for in-house productions was not activate during the year.

Catering made a pre-tax profit of £43,008 (2021-22: £19,186 only able to trade from September 2021 as the theatre was closed) which it has Gift Aided to the charity, under a deed of covenant.

Risk management

The Trustees maintain and review the charity’s risk register regularly. The risk management strategy comprises:

The primary risk the trustees are currently addressing is the re-positioning of the charity’s business in the local marketplace, reflecting the change in the theatre landscape.

Principal funding sources

The Grand Theatre has two principal funders: Arts Council England through the National Portfolio and Blackpool Council through a Service Level Agreement.

Investment policy and review

The trustees, having regard to the liquidity requirements of the charity and its reserves policy, have operated a policy of keeping available funds in an interest-bearing deposit account and seeking to achieve a rate on deposit which matches or exceeds inflation as measured by the retail prices index.

Reserves

Free reserves

Reserves are needed to bridge the gap between spending and receiving of resources; to sustain the charity over the next twelve months, and to cover emergency repairs and other expenditure. The trustees consider that the ideal level of free reserves (unrestricted funds not invested in fixed assets or otherwise designated) at the year-end would be between £300,000 and £350,000, equivalent to three months running costs.

Free reserves at the year-end were £538,332. We expect that, given the ongoing challenges caused by the combination of pandemic recovery, inflationary pressures and exponential increase in global utility prices, we will have to call on the reserves in the next two years to meet operating income shortfalls and thus the free reserves will reduce to the target level.

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BLACKPOOL GRAND THEATRE (ARTS & ENTERTAINMENTS) LIMITED TRUSTEES’ AND DIRECTORS’ ANNUAL REPORT FOR THE YEAR ENDED MARCH 31 2023

Designated funds

The trustees have established the following designated funds:

Programme reserve This was originally to provide support for innovative and exceptional productions, which may not otherwise be financially viable. It now represents the commitment needed from the reserves for programming in 2023/24 and beyond with a target of £20,000 being added per annum when funds permit.

Learning Fund To support future development in education in the arts in schools and the local community.

Advertising Fund To support future promotional activity.

Going concern

Having reviewed these financial statements the Board is comfortable that they are correctly prepared on the going-concern basis for the following reasons.

Strong Reserves

The charity has a healthy unrestricted reserve balance (helped by the Cultural Recovery Fund and Emergency Resource Support Funding) as well as restricted and designated funds to be utilised over the next few years by the creative learning department continuing the Charity’s work with schools and other local groups.

Forecasts

The Senior Management Team (SMT) has produced forecasts showing that the charity is still in a positive reserves position both under normal expectations as well as under less favourable conditions.

Conclusion

After considering the above points the Board considers that it is appropriate to prepare the accounts on the going-concern basis

. FUTURE PLANS

1[st] April 2023 saw the commencement of a new three-year National Portfolio Organisation funding agreement with Arts Council England which will run through to the end of March 2026. The funding agreement has seen a significant uplift in Arts Council England’s investment in The Grand, with an additional £250,000 per annum to support the ongoing delivery and further development of our internationally recognised Story Led Resilience programme in Blackpool and beyond.

We look forward to renewing our relationship with the Children’s Theatre Partnership and have been re-commissioned as Education Partner for the forthcoming tours of Onjali Q. Rauf’s Boy at The Back of the Class and Marjorie Blackman’s Pig-Heart Boy . In addition, Blackpool Grand Theatre looks forward to a new collaboration with PW Productions to create accompanying educational resources for the forthcoming UK Tour of Bristol Old Vic’s production of Ross Willis’ Wonder Boy , directed by Sally Cookson.

On the main stage, new relationships will see Blackpool Grand Theatre presenting the Nottingham Playhouse European premiere production of The Real and Imagined History of The Elephant Man featuring a fully inclusive cast led by Zak Ford Williams and directed by Stephen Bailey, winner of the Royal Theatrical Support Trust’s Sir Peter Hall Director Award for 2022. This is the first in what is hoped to be a series of collaborations with some of the UK’s finest regional producing theatres, bringing the highest quality stage work to Blackpool audiences.

Blackpool Grand Theatre looks forward to working in collaboration with Gary Clarke Company on a three-year project with Blackpool’s LGBT community which will inform and contribute to the development of their next major touring work, which will again be cocommissioned by Blackpool Grand. Working with Northern Broadsides, Blackpool Grand will join with Customs House South Shields and The Civic Barnsley to champion and develop young writers, culminating in the creation of a new main stage play that will tour to all four places under the working title “Life in A Northern Town”.

Autumn 2023 will see the re-launch of the Grand Young Company under the leadership of former Young Company member Mykey Young, who joined the team in July 2022. New groups including our Teachers Network and Access Groups have launched and will form part of our new programme of representative groups under the banner Grand Voices.

Our longstanding partnership with the Royal Shakespeare Company will continue and we look forward to strengthening this bond through the continuation of existing projects and co-creation of new strands of work over the years ahead. We are grateful to the ongoing support of The Goldsmiths Company Charity in respect of our Tales Retold project, with this work being featured in the 2023 Goldsmiths Review publication.

Blackpool Grand Theatre’s work has been recognised by a further two award nominations: as a finalist in the 2023 Children and Young People Now Awards (the only arts organisation to be nominated) and for Mark Preston, Head of Finance & Business, who has been nominated as a finalist in the 2023 Accounting Excellence Awards Finance Director of The Year.

As we look to the future, we look forward to working together with the family of Blackpool Grand Theatre charities (Blackpool Grand Theatre Trust and the Friends of The Grand) as we look to further our ambitions to deliver our Capital Masterplan, ensuring The Grand may be enjoyed for many more years and by generations to come.

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BLACKPOOL GRAND THEATRE (ARTS & ENTERTAINMENTS) LIMITED TRUSTEES’ AND DIRECTORS’ ANNUAL REPORT FOR THE YEAR ENDED MARCH 31 2023 STRUCTURE GOVERNANCE AND MANAGEMENT

Governing document

The charity is a company limited by guarantee governed by its memorandum and articles of association dated June 8, 1993, as amended by special resolutions dated February 18, 2016. It is a registered charity with the Charity Commission.

Members of the company

The maximum number of members is currently set at forty, but the Board may from time to time register an increase or decrease in the number. There are four classes of member in addition to a President or Vice President (if appointed):

Appointment of trustees/directors

Nominated trustees/directors.

Blackpool Council has the right to nominate two trustees. The Friends of the Grand have the right to nominate one trustee. The other trustee Directors are appointed through open advertisement.

Appointed trustees/directors

Up to 15 persons appointed through a scheme of recruitment established by the Board, through an appointments panel consisting of the Chair and two other persons independent of the Board.

Co-opted trustees/directors

The Board may co-opt up to two persons to serve as directors/trustees for a period not exceeding four years, and they may renew the appointment for a further period not exceeding four years.

A nominating body has the power to appoint a deputy, but appointed and co-opted trustees/directors cannot appoint an alternate to act on their behalf.

Trustee induction and training

New trustees undergo an orientation day to brief them on their legal obligations under charity and company law, the Charity Commission guidance on public benefit, the content of the Memorandum and Articles of Association, the committee and decisionmaking process, the business plan and recent financial performance of the charity. During the induction day, they meet key staff and other trustees.

Trustees are encouraged to attend appropriate external training events where these will facilitate the understanding of their role. All trustees will have the opportunity to attend an external “refresher” on an annual basis.

Organisation

The Board administers the charity and meets every two months. The Board delegates the day-to-day management of the charity, to the Chief Executive and the other members of the senior management team as set out on page 2. The extent of the delegated authority has been formally agreed by the Board.

The Board has established a finance sub-committee to carry out financial monitoring, and it reports to the full Board.

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BLACKPOOL GRAND THEATRE (ARTS & ENTERTAINMENTS) LIMITED TRUSTEES’ AND DIRECTORS’ ANNUAL REPORT FOR THE YEAR ENDED MARCH 31 2023

Co-operation with other organisations/charities

In accordance with its objectives, the charity works closely with Blackpool Grand Theatre Trust Ltd (the Trust) the charity from which it rents the theatre under a formal lease. The charity also provides management services to the Trust at cost.

Pay and remuneration for senior staff.

The pay levels of the senior staff are recommended to the Board by the Finance Sub-Committee. These are set through a benchmarking process that looks at similar, industry-specific roles in regional theatre, additionally taking into account general salary levels in the Blackpool area. Salaries are reviewed annually and, unless circumstances prevent it, an inflationary rise may be applied in line with RPI. Any other increases to senior salaries will only be considered in the light of additional or special responsibilities added to their current roles.

Related parties

None of the trustees receives any remuneration or other benefits for their services. The Board requires any Trustee or senior manager to declare any interests in contracts etc., and any relationships with production companies, contracted actors, performers or exhibitors.

Details of transactions with the Trust and Catering are given in the notes to the accounts.

TRUSTEES’ RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS

The trustees (who are also directors of Blackpool Grand Theatre (Arts & Entertainments) Limited for the purposes of company law) are responsible for preparing the Trustees’ Annual Report 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 these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and 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.

STATEMENT OF DISCLOSURE TO AUDITORS

We, the directors of the company who held office at the date of approval of these Financial Statements as set out above each confirm, so far as we are aware, that:

SMALL COMPANY PROVISIONS AND APPROVAL

This report has been prepared in accordance with the provisions applicable to companies entitled to the small company’s exemption.

Approved by the Board of Trustees and signed on its behalf by:

A P Stone – Director

Date:

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INDEPENDENT AUDITORS REPORT

TO THE MEMBERS AMD TRUSTEES OF BLACKPOOL GRAND THEATRE (ARTS & ENTERTAINMENTS) LIMITED FOR THE YEAR ENDED MARCH 31 2023

Opinion

We have audited the financial statements of Blackpool Grand Theatre (Arts & Entertainments) Ltd (the ‘parent charitable company’) and its subsidiaries (the 'group') for the year ended March 31, 2023, which comprise the Group and parent Charity Statements of Financial Activities, The Group and Parent Charity Balance Sheets and the group and Parent Charity Statement of cash flows, and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group’s or parent charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the [strategic report and the][7] directors’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Act 2011 requires us to report to you if, in our opinion:

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INDEPENDENT AUDITORS REPORT TO THE MEMBERS AMD TRUSTEES OF BLACKPOOL GRAND THEATRE (ARTS & ENTERTAINMENTS) LIMITED FOR THE YEAR ENDED MARCH 31 2023

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, set out in the Directors’ and Trustees’ Annual Report, the trustees (who are also the directors of the parent charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the groups and parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed auditor under the Companies Act 2006 and section 151 of the Charities Act 2011 and report in accordance with those Acts.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below. Our approach to identifying and assessing the risks in respect of irregularities and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the company’s financial statement to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

No instances of material non-compliance were identified.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

10

INDEPENDENT AUDITORS REPORT

TO THE MEMBERS AMD TRUSTEES OF BLACKPOOL GRAND THEATRE (ARTS & ENTERTAINMENTS) LIMITED FOR THE YEAR ENDED MARCH 31 2023

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and to the charitable company’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s members and its trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Naveed Ahmad BSc Hons FCCA ACA– Senior Statutory Auditor

For and on behalf of:

HGA Accountants & Financial Consultants t/a Chittenden Horley Chartered Accountants and Statutory Auditors Hyde Park House, Cartwright Street, Hyde SK14 4EH Date:

HGA Accountants & Financial Consultants Ltd t/a Chittenden Horley is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

11

BLACKPOOL GRAND THEATRE (ARTS & ENTERTAINMENTS) LIMITED GROUP STATEMENT OF FINANCIAL ACTIVITIES (including the income and expenditure account) FOR THE YEAR ENDED MARCH 31 2023

----- Start of picture text -----
Notes General Designated Restricted Total Total
Funds Funds Funds 2023 2022
£ £ £ £ £
INCOME
Incoming resources from generated funds:
Donations 2 255,697 - 5,300 260,997 1,373,211
Charitable activities 3 3,163,021 102,716 59,793 3,325,530 1,962,575
Other trading activities 4 378,503 - - 378,503 176,976
Investment income - bank interest 12,609 - - 12,609 1,740
TOTAL INCOMING RESOURCES 3,809,830 102,716 65,093 3,977,639 3,514,502
EXPENDITURE
Costs of raising funds 6 291,081 - - 291,081 178,717
Expenditure on charitable activities 7 3,464,367 39,710 172,913 3,676,990 3,195,739
TOTAL EXPENDITURE 3,755,448 39,710 172,913 3,968,071 3,374,456
NET INCOME/(EXPENDITURE)
BEFORE TRANSFERS 10 54,382 63,006 (107,820) 9,568 140,046
Transfers between funds 16 14,378 (14,378) - - -
NET INCOME/(EXPENDITURE 68,760 48,628 (107,820) 9,568 140,046
Theatre Tax Credit 5 - - - - 14,824
NET INCOME/(EXPENDITURE)
AFTER TAXATION - NET MOVEMENT IN FUNDS 68,760 48,628 (107,820) 9,568 154,870
TOTAL FUNDS:
BROUGHT FORWARD 16 468,977 376,145 185,139 1,030,261 875,391
CARRIED FORWARD 16 537,737 424,773 77,319 1,039,829 1,030,261
----- End of picture text -----

The notes on pages 17 to 32 form part of these financial statements.

12

BLACKPOOL GRAND THEATRE (ARTS & ENTERTAINMENTS) LIMITED CHARITY STATEMENT OF FINANCIAL ACTIVITIES (including the income and expenditure account) FOR THE YEAR ENDED MARCH 31 2023

----- Start of picture text -----
Unrestricted
Notes General Designated Restricted Total Total
Funds Funds Funds 2023 2022
£ £ £ £ £
Incoming resources from generated funds:
Donations 2 298,705 - 5,300 304,005 1,392,397
Charitable activities 3 3,163,021 102,716 59,793 3,325,530 2,200,815
Other trading activities 4 89,676 - - 89,676 27,328
Investment income - bank interest 12,197 - - 12,197 1,739
TOTAL INCOME 3,563,599 102,716 65,093 3,731,408 3,622,279
EXPENDITURE
Costs of raising funds 6 44,837 - - 44,837 48,241
Expenditure on charitable activities 7 3,464,367 39,710 172,913 3,676,990 3,419,155
TOTAL EXPENDITURE 3,509,204 39,710 172,913 3,721,827 3,467,396
NET INCOME/(EXPENDITURE)
BEFORE TRANSFERS 54,395 63,006 (107,820) 9,581 154,883
Transfers between funds 16 14,378 (14,378) - - -
NET MOVEMENT IN FUNDS 68,773 48,628 (107,820) 9,581 154,883
TOTAL FUNDS:
BROUGHT FORWARD 16 469,559 376,145 185,139 1,030,843 875,960
CARRIED FORWARD 16 538,332 424,773 77,319 1,040,424 1,030,843
----- End of picture text -----

The notes on pages 17 to 32 form part of these financial statements.

13

BLACKPOOL GRAND THEATRE (ARTS & ENTERTAINMENTS) LIMITED GROUP BALANCE SHEET AS AT MARCH 31 2023

Notes
FIXED ASSETS
Tangible Assets
11
CURRENT ASSETS
Stock
13
Debtors
14
Cash at Bank and in Hand
CREDITORS
Amounts falling due in one year
15
NET CURRENT ASSETS
TOTAL NET ASSETS
FUNDS
Unrestricted charitable funds
General fund
16
Designated fund
16
Restricted charitable funds
16
Total charitable funds
Non charitable trading subsidiaries
16
TOTAL FUNDS		 2023
£
16,023
190,778
1,984,649		 2023
2022
£
£
67,562
67,562
9,111
211,258
1,932,979
2,153,348
1,196,284
972,267
1,039,829
469,559
376,145
963,105
77,319
1,040,424
(595)
1,039,829		 2022
£
73,197
73,197
957,064
2,191,450
1,219,183
538,332
424,773
1,030,261
845,704
185,139
1,030,843
(582)
1,030,261

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

The notes on pages 17 to 32 form part of these financial statements.

Approved by the Board of Directors and authorised for issue on:

A P STONE - DIRECTOR

Company registration number: 02825229

14

BLACKPOOL GRAND THEATRE (ARTS & ENTERTAINMENTS) LIMITED CHARITY BALANCE SHEET AS AT MARCH 31 2023

Notes
FIXED ASSETS
Tangible Assets
11
Investments
12
CURRENT ASSETS
Stock
13
Debtors
14
Cash at Bank and in Hand
CREDITORS
Amounts falling due in one year
15
NET CURRENT ASSETS
TOTAL NET ASSETS
FUNDS
Unrestricted
General fund
16
Designated funds
16
Restricted
16
TOTAL FUNDS		 2023
£
1,250
315,984
1,852,764		 2023
2022
£
£
67,562
201
67,763
1,250
261,060
1,881,881
2,144,191
1,186,746
972,661
1,040,424
469,559
376,145
963,105
77,319
1,040,424		 2022
£
73,197
201
73,398
957,445
2,169,998
1,197,337
538,332
424,773
1,030,843
845,704
185,139
1,030,843

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

The notes on pages 17 to 32 form part of these financial statements.

Approved by the Board of Directors and authorised for issue on:

A P STONE - DIRECTOR

Company registration number: 02825229

15

BLACKPOOL GRAND THEATRE (ARTS & ENTERTAINMENTS) LIMITED GROUP AND CHARITY STATEMENTS OF CASH FLOWS AS AT MARCH 31 2023

----- Start of picture text -----
Group Group Charity Charity
2023 2022 2023 2022
notes £ £ £ £
Cash used in operating activities 18 50,967 828,507 (29,408) 805,101
Cashflows from investing activities
Interest and dividends 12,609 1,740 12,197 1,739
Purchase of tangible fixed assets (11,906) (85,474) (11,906) (85,474)
Cash provided by/(used in) investing activities 703 (83,734) 291 (83,735)
Cashflows from financing activities
- - - -
Cash from financing activities
Increase/(decrease) in cash & cash equivalents in the year 51,670 744,773 (29,117) 721,366
Cash and cash equivalents brought forward 1,932,979 1,188,206 1,881,881 1,160,515
Cash and cash equivalents carried forward 1,984,649 1,932,979 1,852,764 1,881,881
Cash and cash equivalents consist of:
Cash at bank and in hand 1,984,649 1,932,979 1,852,764 1,881,881
Current asset investments -
1,984,649 1,932,979 1,852,764 1,881,881
----- End of picture text -----

The notes on pages 17 to 32 form part of these financial statements.

16

BLACKPOOL GRAND THEATRE (ARTS & ENTERTAINMENTS) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2023

1 ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared: under the historic cost convention; in accordance with the Statement of Recommended Practice – Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) effective January 1, 2019 (second edition – October 2019); FRS102; and the Companies Act 2006. The charity constitutes a public benefit entity as defined by FRS102.

The accounts are prepared in £ sterling, which is the functional currency.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Going Concern

The trustees have set out their review of going concern in their trustees’ report and have concluded that the accounts are properly prepared on the going concern basis.

Income recognition

All income is recognised once the charity has an entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. The following applies to particular types of income:

Grants , whether of a capital or revenue nature, are recognised when the charity has an entitlement to the funds, any performance conditions have been met, and it is probable that the income will be received.

Donations from individuals and other bodies (not being of the nature of a grant) are recognised when receivable.

Legacies are recognised on a case-by-case basis following the grant of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date. In the case of gifts that are neither cash nor financial assets tradable on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the charity.

Earned income is measured at the fair value of the consideration received or receivable for services and goods supplied, net of discounts and VAT.

Investment income Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.

Deferred income

Income is only deferred and included in creditors when:

Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that the settlement will be required, and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Costs of raising funds

including those associated with fundraising activities, managing investments and commercial trading by the subsidiary company.

Charitable activities costs of undertaking the work of the charity.

The charity is registered for VAT and is able to recover some of the input tax charged as it relates to Vatable supplies. Costs are initially recorded gross of VAT, and the recoverable amount is retrospectively apportioned across the expenditure categories.

Allocation of support costs

Support costs are those functions which assist the work of the charity either by supporting the delivery of charitable activities or by supporting the generation of funds. They include salaries, marketing cost, establishment costs, office costs, staff training and recruitment, finance charge, accountancy, audit and professional costs and depreciation.

The basis of allocations is set out in note 8.

17

BLACKPOOL GRAND THEATRE (ARTS & ENTERTAINMENTS) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2023

1 ACCOUNTING POLICIES (continued)

Tangible fixed assets

Individual fixed assets costing more than £1,000 (previously - £500) are capitalised at cost and are depreciated over their estimated useful lives on a straight-line basis as set out below.

Depreciation rates

All assets are depreciated on a straight-line basis at the following rates:

Furniture and equipment

20% straight line

Investments

Investments in subsidiaries are valued at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

Debtors

Trade and other debtors are recognised at the settlement amount due, and prepayments are valued at the amount prepaid.

Cash at bank and in hand

Cash at bank and 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.

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.

Financial instruments

The charity has only basic financial instruments which are initially recorded at cost, and with the exception of investments (as set out above) subsequently measured at their settlement value.

Group financial statements

The financial statements consolidate the results of the charity and its wholly owned subsidiaries, Blackpool Grand Theatre Catering Company Limited, Blackpool Grand Productions Ltd and Showseats Ltd, on a line-by-line basis and inter group balances are eliminated on consolidation.

18

BLACKPOOL GRAND THEATRE (ARTS & ENTERTAINMENTS) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2023

----- Start of picture text -----
2023 2022
Unrestricted Restricted Total Unrestricted Restricted Total
£ £ £ £ £ £
2 DONATIONS
Revenue grants: & other funding
- -
Arts Council England 213,856 213,856 213,856 213,856
- - - - -
ACE emergency funding
- - - - -
ACE Cultural Recovery Fund 1
ACE Cultural Recovery Fund 2 - - - - 491,000 491,000
ACE CRF - ERSF - - - - 469,720 469,720
Blackpool Council Covid grants - - - 24,000 24,000
Esmée Fairbairn Foundation - - - 28,000 - 28,000
Kickstart - - - - 39,034 39,034
Grant CJRS - - - 64,492 - 64,492
DWP worker support - - - 7,204 - 7,204
213,856 - 213,856 337,552 999,754 1,337,306
Donations & legacies
General donations 41,841 - 41,841 30,605 - 30,605
- - - - - -
Donations for Creative Learning
Friends of the Grand - 5,300 5,300 - 5,300 5,300
41,841 5,300 47,141 30,605 5,300 35,905
Total for group 255,697 5,300 260,997 368,157 1,005,054 1,373,211
Donation from BGT Catering Co. 43,008 - 43,008 19,186 - 19,186
Total for company 298,705 5,300 304,005 387,343 1,005,054 1,392,397
----- End of picture text -----

19

BLACKPOOL GRAND THEATRE (ARTS & ENTERTAINMENTS) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2023

----- Start of picture text -----
2023 2022
Unrestricted Restricted Total Unrestricted Restricted Total
£ £ £ £ £ £
3 INCOME FROM CHARITABLE ACTIVITIES
Group
- -
Theatre and performance 3,092,911 3,092,911 2,067,309 2,067,309
Creative Learning 102,716 59,793 162,509 20,440 46,500 66,940
- -
Management charges from BGT Trust 70,110 70,110 66,566 66,566
Less Income in A&E from BGP - - - (238,240) - (238,240)
Total per Group 3,265,737 59,793 3,325,530 1,916,075 46,500 1,962,575
Charity
Theatre and performance
Box office & commission income 2,957,987 - 2,957,987 1,726,235 - 1,726,235
- -
SLA Blackpool Borough Council 64,000 64,000 64,000 64,000
Production income - - - 238,240 - 238,240
Theatre/studio hire 26,000 - 26,000 29,925 - 29,925
Other income 30,219 - 30,219 6,760 - 6,760
Ancillary trading 14,705 - 14,705 2,149 - 2,149
3,092,911 - 3,092,911 2,067,309 - 2,067,309
Creative Learning
Fees & earned income 92,443 - 92,443 20,440 - 20,440
Grants:
CONTROL - (417) (417) - - -
The Goldsmiths' Company - Tales Reto - 34,960 34,960 - -
Channelled grant - Tales Retold - - - - 22,000 22,000
CTP - - - - -
Blackpool Carers 5,273 - 5,273 - -
Blackpool BC - Betterstart 5,000 6,000 11,000 - -
Illuminate - - - - - -
LCEP - 5,750 5,750 - - -
RSC Schools - 8,500 8,500 - - -
- -
University of Central Lancashire 5,000 5,000 5,000 5,000
Peter Jackson Charitable Trust - - - - 2,500 2,500
Royal Shakespeare Company - - - - 17,000 17,000
102,716 59,793 162,509 20,440 46,500 66,940
Blackpool Grand Theatre Trust Ltd
Management charge 70,110 - 70,110 66,566 - 66,566
Total per Charity 3,265,737 59,793 3,325,530 2,154,315 46,500 2,200,815
Unrestricted income attributable to designated funds: 2023 2022
Designated fund £ £
Recharges to Producers - advertising income Advertising fund 1,250 5,611 20
1,250 5,611
----- End of picture text -----

BLACKPOOL GRAND THEATRE (ARTS & ENTERTAINMENTS) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2023

2023
2022
Unrestricted Restricted
Total
Unrestricted Restricted
Total
£
£
£
£
£
£
4 INCOME FROM OTHER TRADING ACTIVITIES
Sponsorship
12,000
-
12,000
-
-
Management charges
50,986
-
50,986
26,444
-
26,444
Room hire
15,675
-
15,675
100
-
100
Merchandise
11,015
-
11,015
784
784
Per charity
89,676
-
89,676
27,328
-
27,328
Less eliminated on consolidation:
Management charge to Catering Ltd
(50,986)
-
(50,986)
(26,444)
-
(26,444)
Room hire charges to Catering Ltd
(100)
-
(100)
(100)
-
(100)
Add Subsidiarity income Catering Ltd
339,913
-
339,913
176,192
-
176,192
Per group
378,503
-
378,503
176,976
-
176,976
5 TRADING SUBSIDIARIES
Catering Company
Grand Productions
Showseats Ltd
2023
2022
2023
2022
2023
2022
Profit and loss account
£
£
£
£
£
£
Turnover
339,913
176,192
-
224,411
-
-
Cost of sales
208,150
109,658
-
238,240
-
-
Gross profit
131,763
66,534
-
(13,829)
-
-
Administration Expenses
89,167
47,349
-
995
13
13
Operating profit/loss
42,596
19,185
-
(14,824)
(13)
(13)
Other income
-
-
Interest receivable
412
1
-
-
-
-
Net profit/loss before taxation
43,008
19,186
-
(14,824)
(13)
(13)
Theatre Tax Credit
-
-
-
14,824
-
-
Net profit after taxation
43,008
19,186
-
-
(13)
(13)
Summary change in equity
Reserves b/f
655
655
1
1
1,123
1,136
Profit for the year
43,008
19,186
-
-
(13)
(13)
Donation under gift aid to A&E
(43,008)
(19,186)
-
-
-
-
Reserves c/f
655
655
1
1
1,110
1,123
Summary balance sheet
Total assets
147,219
65,280
1
14,824
-
-
Total liabilities (excluding capital grant)
(146,464)
(64,525)
-
(14,823)
(1,110)
(1,123)
Net funds
755
755
1
1
(1,110)
(1,123)
The subsidiary operates the bar and catering services within the theatre. On consolidation the management charge of
£50,986 (2022 - £26,444) and charges for room hire from A&E of £100 (2022 - nil) are eliminated against A&E income.
This company has not traded in the last two years.
Blackpool Grand Theatre Catering Company ltd
Showseats Ltd
Blackpool Grand Productions Ltd (BGP)
In February 2019, the charity formed Blackpool Grand Productions Ltd as a vehicle for in house productions, and is
eligible to claim theatre tax relief. There were no productions in 22/23 and one in 21/22.
BGP's income derives from charity.
On consolidation income from the charity of
2023 - nil (2022-£224,411) is
eliminated against theatre production costs and the direct costs of 2023 - nil ( 2022 - £238,240) are eliminated against
production subcontractor fees in the charity.
2023 2022
Unrestricted Restricted
Total
Unrestricted Restricted Total
£
12,000
50,986
15,675
11,015		 £
26,444
100
784		 £
£
-
-
-
26,444
-
100
784
89,676
-
(50,986)
-
(100)
-
339,913
-		 89,676
(50,986)
(100)
339,913		 27,328
(26,444)
(100)
176,192		 -
27,328
-
(26,444)
-
(100)
-
176,192
378,503
-		 378,503 176,976 -
176,976
Catering Company
2023
2022
£
£
339,913
176,192
208,150
109,658		 Grand Productions
2023
2022
£
£
-
224,411
-
238,240		 Showseats Ltd
2023
2022
£
£
-
-
-
-
131,763
66,534
89,167
47,349		 -
(13,829)
-
995		 -
-
13
13
42,596
19,185
-
412
1		 -
(14,824)
-
-
-		 (13)
(13)
-
-
43,008
19,186
-
-		 -
(14,824)
-
14,824		 (13)
(13)
-
-
43,008
19,186		 -
-		 (13)
(13)
655
655
43,008
19,186
(43,008)
(19,186)		 1
1
-
-
-
-		 1,123
1,136
(13)
(13)
-
-
655
655		 1
1		 1,110
1,123
1
14,824
-
(14,823)		 -
-
(1,110)
(1,123)
755
755		 1
1		 (1,110)
(1,123)

21

BLACKPOOL GRAND THEATRE (ARTS & ENTERTAINMENTS) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2023

22
2022
£
2,460
13,715
32,066
48,241
157,007
13
(26,444)
(100)
178,717
Total
£
3,115,103
235,852
68,200
3,419,155
(224,411)
995
3,195,739
2022
£
-
12,861
12,861
Total
£
3,323,767
285,023
68,200
3,676,990
3,115,103
235,852
68,200
3,419,155
**6 ** COSTS OF RAISING FUNDS
Direct costs
Direct salaries
Support costs
Per charity
Costs re Blackpool Grand Theatre Catering Company
Costs re Showseats Ltd
Less management charge
Less room hire charges
Total fundraising in Group		 2023
£
7,471
12,901
24,465
44,837
297,317
13
(50,986)
(100)
291,081		 2022
£
2,460
13,715
32,066
48,241
157,007
13
(26,444)
(100)
178,717
All costs in both years are charged to unrestricted funds, and there are no allocations to designated funds.
**7 ** CHARITABLE EXPENDITURE
Theatre and performance
Creative Learning
Supporting the BGT Trust
per Charity
Less subcon costs from BGP
BGP support costs
Per Group		 2023 2022
Unrestricted Restricted		 Total
Unrestricted Restricted
Total
£
£
£
3,307,882
15,885
3,323,767
127,995
157,028
285,023
68,200
-
68,200		 £
£
2,238,564
876,539
134,609
101,243
68,200
-		 £
3,115,103
235,852
68,200
3,504,077
172,913
3,676,990
-
-
-
-
-
-		 2,441,373
977,782
(224,411)
-
995
-		 3,419,155
(224,411)
995
3,504,077
172,913
3,676,990		 2,217,957
977,782		 3,195,739
Included in unrestricted costs above are amounts charged to designated funds as follows:
2023
£
Charged to Creative Learning Fund
38,460
Charged to advertising fund
1,250
39,710
Expenditure in the charity is analysed as follows:
Direct
Direct
Support
costs
salaries
costs
2022/23
£
£
£
Theatre and performance
1,729,902
514,935
1,078,930
Creative learning
122,542
86,605
75,876
Supporting the Blackpool Grand Theatre Trust
-
67,883
317
1,852,444
669,423
1,155,123
2021/22
Theatre and performance
1,357,434
568,217
1,189,452
Creative learning
55,521
106,874
73,457
Supporting the Blackpool Grand Theatre Trust
-
67,785
415
1,412,955
742,876
1,263,324
1,852,444 669,423
1,155,123
1,357,434
55,521
-		 568,217
1,189,452
106,874
73,457
67,785
415
1,412,955 742,876
1,263,324
6 COSTS OF RAISING FUNDS
Direct costs
Direct salaries
Support costs		 2023
2022
£
£
7,471
2,460
12,901
13,715
24,465
32,066
Per charity
Costs re Blackpool Grand Theatre Catering Company
Costs re Showseats Ltd
Less management charge
Less room hire charges		 44,837
48,241
297,317
157,007
13
13
(50,986)
(26,444)
(100)
(100)
Total fundraising in Group 291,081
178,717
2023 2022
Unrestricted Restricted
Total		 Unrestricted Restricted
Total
£
£
£
7 CHARITABLE EXPENDITURE
Theatre and performance
3,307,882
15,885
3,323,767
Creative Learning
127,995
157,028
285,023
Supporting the BGT Trust
68,200
-
68,200		 £
£
£
2,238,564
876,539
3,115,103
134,609
101,243
235,852
68,200
-
68,200
per Charity
3,504,077
172,913
3,676,990
Less subcon costs from BGP
-
-
-
BGP support costs
-
-
-		 2,441,373
977,782
3,419,155
(224,411)
-
(224,411)
995
-
995
Per Group
3,504,077
172,913
3,676,990		 2,217,957
977,782
3,195,739

BLACKPOOL GRAND THEATRE (ARTS & ENTERTAINMENTS) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2023

8 SUPPORT & GOVERNANCE COSTS
2022/23
Salaries
Marketing costs
Establishment costs
Cleaners wages
Office costs
Staff training and recruitment
Finance charges
Accountancy & professional fees
Depreciation		 Costs of
raising
Theatre &
Creative
Support of
Total
Marketing
funds
Performance
Learning
Trust
2023
£
£
£
£
£
£
114,394
16,436
95,134
23,783
-
249,747
477,214
-
-
-
-
477,214
-
4,379
203,604
10,946
-
218,929
-
1,261
58,623
3,152
-
63,036
-
1,760
81,837
4,400
-
87,997
-
629
29,264
1,573
-
31,466
-
-
1,010
-
-
1,010
-
-
1,364
-
-
1,364
-
-
7,239
381
-
7,620
Allocation of marketing support costs 591,608
24,465
478,075
44,235
-
1,138,383
(591,608)
-
562,028
29,580
-
-
-
24,465
1,040,103
73,815
-
1,138,383
Governance costs
Salaries
Audit, accountancy & professional fees		 -
-
5,711
318
317
6,346
-
-
33,116
1,743
-
34,859
-
-
38,827
2,061
317
41,205
-
24,465
1,078,930
75,876
317
1,179,588
2021/22
Support costs
Support salaries costs
Marketing costs
Establishment costs
Cleaners wages
Office costs
Staff training and recruitment
Finance charges
Accountancy & professional fees
Depreciation		 115,726
21,856
52,791
13,198
-
203,571
406,998
-
-
-
-
406,998
-
6,165
286,664
15,412
-
308,241
-
841
39,095
2,102
-
42,038
-
1,636
76,088
4,091
-
81,815
-
1,568
72,904
3,920
-
78,392
-
-
890
-
-
890
-
-
1,478
-
-
1,478
-
-
12,287
647
-
12,934
Allocation of marketing support costs 522,724
32,066
542,197
39,370
-
1,136,357
(522,724)
-
496,588
26,136
-
-
-
32,066
1,038,785
65,506
-
1,136,357
Governance costs
Salaries
Audit, accountancy & professional fees		 -
-
7,464
414
415
8,293
-
-
143,203
7,537
150,740
-
-
150,667
7,951
415
159,033
-
32,066
1,189,452
73,457
415
1,295,390
Support costs are allocated on the following basis:
Area
basis
comment
Marketing costs
estimate of usage
net of any direct attribution
Support salaries
estimate of time spent
Establishment costs & cleaners wages
Space
Other costs
estimate of usage

23

BLACKPOOL GRAND THEATRE (ARTS & ENTERTAINMENTS) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2023

9 STAFF INFORMATION
2023
2022
£
£
a Employees
Salaries and wages
975,020
971,285
Pension costs
44,076
34,077
Employer's NI contributions
76,031
68,328
1,095,127
1,073,690
Staff costs for the Trading subsidiary included above
93,674
57,988
Employees earning more than £60,000pa (excluding employer's nic and pension contributions):
number
number
£60,000 - £70,000
1
1
b Key Management
The key management of the charity comprise the trustees and senior staff (as set out on page1) and the key management
the group are the same people plus catering manager. The trustees do not receive any remuneration for their services
The total employee benefits of other key management were as follows:
£
£
Charity
275,718
357,785
Group
303,680
385,747
c Average staff numbers
The average number of employees was as follows:-
2023
2023
2022
2022
Average
Average FTE
Average
average FTE
number
number
number
number
Employees
56
42
54
40
56
42
54
40
10 NET INCOME/(EXPENDITURE) BEFORE TRANSFERS (for the Group)
This is stated after charging/(crediting):
£
£
Auditors remuneration:-
Audit fees
5,255
5,255
Accountancy fees
1,785
4,785
Operating lease rentals
40,000
40,000
Depreciation of fixed assets
17,541
12,933
Trustees remuneration
-
-
Trustees expenses
-
-		 9 STAFF INFORMATION
2023
2022
£
£
a Employees
Salaries and wages
975,020
971,285
Pension costs
44,076
34,077
Employer's NI contributions
76,031
68,328
1,095,127
1,073,690
Staff costs for the Trading subsidiary included above
93,674
57,988
Employees earning more than £60,000pa (excluding employer's nic and pension contributions):
number
number
£60,000 - £70,000
1
1
b Key Management
The key management of the charity comprise the trustees and senior staff (as set out on page1) and the key management
the group are the same people plus catering manager. The trustees do not receive any remuneration for their services
The total employee benefits of other key management were as follows:
£
£
Charity
275,718
357,785
Group
303,680
385,747
c Average staff numbers
The average number of employees was as follows:-
2023
2023
2022
2022
Average
Average FTE
Average
average FTE
number
number
number
number
Employees
56
42
54
40
56
42
54
40
10 NET INCOME/(EXPENDITURE) BEFORE TRANSFERS (for the Group)
This is stated after charging/(crediting):
£
£
Auditors remuneration:-
Audit fees
5,255
5,255
Accountancy fees
1,785
4,785
Operating lease rentals
40,000
40,000
Depreciation of fixed assets
17,541
12,933
Trustees remuneration
-
-
Trustees expenses
-
-		 9 STAFF INFORMATION
2023
2022
£
£
a Employees
Salaries and wages
975,020
971,285
Pension costs
44,076
34,077
Employer's NI contributions
76,031
68,328
1,095,127
1,073,690
Staff costs for the Trading subsidiary included above
93,674
57,988
Employees earning more than £60,000pa (excluding employer's nic and pension contributions):
number
number
£60,000 - £70,000
1
1
b Key Management
The key management of the charity comprise the trustees and senior staff (as set out on page1) and the key management
the group are the same people plus catering manager. The trustees do not receive any remuneration for their services
The total employee benefits of other key management were as follows:
£
£
Charity
275,718
357,785
Group
303,680
385,747
c Average staff numbers
The average number of employees was as follows:-
2023
2023
2022
2022
Average
Average FTE
Average
average FTE
number
number
number
number
Employees
56
42
54
40
56
42
54
40
10 NET INCOME/(EXPENDITURE) BEFORE TRANSFERS (for the Group)
This is stated after charging/(crediting):
£
£
Auditors remuneration:-
Audit fees
5,255
5,255
Accountancy fees
1,785
4,785
Operating lease rentals
40,000
40,000
Depreciation of fixed assets
17,541
12,933
Trustees remuneration
-
-
Trustees expenses
-
-		 2022
£
971,285
34,077
68,328
1,073,690
57,988
number
1
385,747
2022
average FTE
number
40
56 42
54		 40
£
5,255
1,785
40,000
17,541
-
-		 £
5,255
4,785
40,000
12,933
-
-

24

BLACKPOOL GRAND THEATRE (ARTS & ENTERTAINMENTS) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2023

TANGIBLE FIXED ASSETS
GROUP AND COMPANY
Equipment
Total
Cost or valuation
£
£
As at April 1 2022
105,570
105,570
Additions
11,906
11,906
As at 31 March 2023
117,476
117,476
Depreciation
As at April 1 2022
32,373
32,373
Charge for the year
17,541
17,541
As at 31 March 2023
49,914
49,914
Net Book Value
As at 31 March 2023
67,562
67,562
As at 31 March 2022
73,197
73,197
FIXED ASSET INVESTMENTS
The charity has owns 100% of the issued share capital of the following companies:
Name
Company no.
Activity
2023
2022
£
£
Blackpool Grand Theatre Catering Company Ltd
1618100
100
100
Bar operations
Blackpool Grand Productions Ltd
11814366
1
1
Theatre productions
Showseats Ltd
8260979
100
100
Dormant
201
201
The Charity owns 100% of the issued share capital of all the above companies being ordinary shares.		 Equipment
£
105,570
11,906		 Total
£
105,570
11,906
117,476 117,476
32,373
17,541		 32,373
17,541
49,914 49,914
67,562 67,562
73,197 73,197

11 TANGIBLE FIXED ASSETS

12 FIXED ASSET INVESTMENTS

25

BLACKPOOL GRAND THEATRE (ARTS & ENTERTAINMENTS) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2023

13 STOCKS
Stock of goods for resale
14 DEBTORS
Trade debtors
Grants and income receivable
Blackpool Grand Theatre Catering Company Ltd
Blackpool Grand Productions Ltd
Showseats Ltd
Other debtors
VAT recoverable
Theatre Tax Credit
Prepayments
15 CREDITORS falling due within one year
Trade creditors
Other taxes and social security
Accruals
Other creditors
Income and grants in advance
Blackpool Grand Productions Ltd
Funds in trust
All income and grants in advance brought forward are released in		 GROUP
GROUP
COMPANY
COMPANY
2023
2022
2023
2022
£
£
£
£
16,023
9,111
1,250
1,250
132,308
66,802
132,159
66,666
6,879
61,844
6,879
61,844
-
-
124,619
55,982
(1)
-
(1)
13,828
-
-
1,149
1,136
-
-
-
-
(9,646)
5,842
(9,646)
5,842
-
14,824
-
-
61,238
61,946
60,825
55,762
190,778
211,258
315,984
261,060
169,743
153,987
153,750
150,503
-
20,508
-
20,508
217,049
152,343
211,196
146,289
6,122
7,115
6,122
7,115
826,334
856,244
826,334
856,244
-
-
-
-
(65)
6,087
(65)
6,087
1,219,183
1,196,284
1,197,337
1,186,746
the subsequent year.

26

BLACKPOOL GRAND THEATRE (ARTS & ENTERTAINMENTS) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2023

16 STATEMENT OF FUNDS

2022/23
TTR &
Income
Expenditure
Transfers
31/03/2023
£
£
£
£
3,809,830
(3,755,448)
14,378
537,737
102,716
(39,710)
(14,378)
424,773		 962,510 77,319 1,039,829 2022
£
845,704
185,139		 1,030,843
(582)		 1,030,261
- - -
(3,795,158) (172,913) (3,968,071) 2023
£
963,105
77,319		 1,040,424
(595)		 1,039,829
3,912,546 65,093 3,977,639
b/f and c/f
31/03/2022
01/04/2022
£
468,977
376,145		 845,122 185,139 1,030,261
21/22
01/04/2021
Income
Expenditure
Transfers
£
£
£
£
361,307
2,457,337
(2,383,813)
34,146
118,787
5,611
(12,861)
264,608		 298,754 (283,930) 14,824
(2,396,674) (977,782) (3,374,456)
2,462,948 1,051,554 3,514,502
480,094 395,297 875,391

27

BLACKPOOL GRAND THEATRE (ARTS & ENTERTAINMENTS) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2023

16 STATEMENT OF FUNDS (continued)

2022/23
Income
Expenditure
Transfers
31/03/2023
£
£
£
£
3,563,599
(3,509,204)
14,378
538,332		 170,000
127,211
60,000
-
-
67,562		 424,773 963,105 77,319 1,040,424
20,000
-
-
(18,158)
-
(10,585)
(5,635)		 (14,378) - - -
-
(38,460)
(1,250)
-
-
-
-		 (39,710) (3,548,914) (172,913) (3,721,827)
-
102,716
-
-
-
-
-		 102,716 3,666,315 65,093 3,731,408
31/03/2022
£
469,559		 150,000
62,955
61,250
18,158
-
10,585
73,197		 376,145 845,704 185,139 1,030,843
2021/22
01/04/2022
Income
Expenditure
Transfers
£
£
£
£
361,876
2,565,114
(2,476,753)
19,322		 60,000
44,168
58,500
18,158
10,585
73,197		 264,608 283,930 (283,930) -
-
-
(12,861)
-
-
-		 (12,861) (2,489,614) (977,782) (3,467,396)
-
-
5,611
-
-
-		 5,611 2,570,725 1,051,554 3,622,279
90,000
18,787
10,000
-
-
-		 118,787 480,663 395,297 875,960
COMPANY
Unrestricted funds:
General fund
Designated funds:
Programme reserve
Creative learning fund
Advertising fund
Epos and Inventory systems
Education Fund
Office improvemnts
Invested in fixed assets
Total unrestricted funds
Restricted funds
As analysed below
Total Funds

28

BLACKPOOL GRAND THEATRE (ARTS & ENTERTAINMENTS) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2023

16 STATEMENT OF FUNDS (continued)

2022/23
TTR &
Income
Expenditure
Transfers
31/03/2023
£
£
£
£
-
-
-
-
-
-
-
-
-
-
-
-
-
(10,585)
-
-
-
-
-
-		 - - - 8,102
2,500
-
-
23,102
27,524
11,000
5,091
-		 77,319 77,319
- - - -
-
-
-
(5,000)
-
5,000
-		 - -
(10,585) (5,300) (5,300) -
-
(2,641)
(2,865)
(88,652)
(44,545)
-
(75)
(18,250)		 (157,028) (172,913)
- 5,300 5,300 -
-
-
-
(417)
34,960
6,000
5,000
14,250		 59,793 65,093
b/f and c/f
31/03/2022
01/04/2022
£
-
-
-
10,585
-		 10,585 - - 8,102
2,500
2,641
2,865
117,171
37,109
-
166
4,000		 174,554 185,139
2021/22
01/04/2021
Income
Expenditure
Transfers
£
£
£
£
-
39,034
(39,034)
-
156,000
(71,525)
(84,475)
491,000
(491,000)
-
469,720
(259,680)
(199,455)
10,000
(10,000)
-		 (283,930) - - -
-
-
-
-
-
-
-
-		 - (283,930)
(871,239) (5,300) (5,300) (6,226)
(7,135)
(55,197)
(19,851)
-
(4,834)
(8,000)		 (101,243) (977,782)
999,754 5,300 5,300 -
2,500
7,000
10,000
-
22,000
5,000		 46,500 1,051,554
332,000 - - 8,102
-
1,867
-
172,368
34,960
-
12,000		 245,779 577,779

29

BLACKPOOL GRAND THEATRE (ARTS & ENTERTAINMENTS) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2023

STATEMENT OF FUNDS (continued)
Transfers
Transfers have been made as detailed in the table to create new designated funds.
A transfers has been made to enhance the creative learning fund and to reprsent the investment in fixed assets.
Designated funds
Programme reserve
To provide support for future seasons programming.
Creative learning fund
To support the work of creative learning
Advertising fund
To suport online advertising
Epos and Inventory systems
To purchase new systems
Office improvemnts
To reconfigure the office accomodation
Invested in fixed assets
Represents the funds invested in fixed assets
Restricted funds
Rstricted fund details are set out in the table and are expected to be used in 22/23.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Company fund balances at March 31 2023
Unrestricted funds
Restricted
Total
are represented by:-
General
Designated
Funds
£
£
£
£
Fixed assets
67,763
-
-
67,763
Net current assets
470,569
424,773
77,319
972,661
538,332
424,773
77,319
1,040,424
Company fund balances at March 31 2022
are represented by:-
Unrestricted funds
Restricted
Total
General
Designated
Funds
£
£
£
£
Fixed assets
73,398
-
-
73,398
Net current assets
340,875
633,503
(16,933)
957,445
414,273
633,503
(16,933)
1,030,843
Free Reserves:
2023
2022
£
£
Net current assets
470,569
340,875		 STATEMENT OF FUNDS (continued)
Transfers
Transfers have been made as detailed in the table to create new designated funds.
A transfers has been made to enhance the creative learning fund and to reprsent the investment in fixed assets.
Designated funds
Programme reserve
To provide support for future seasons programming.
Creative learning fund
To support the work of creative learning
Advertising fund
To suport online advertising
Epos and Inventory systems
To purchase new systems
Office improvemnts
To reconfigure the office accomodation
Invested in fixed assets
Represents the funds invested in fixed assets
Restricted funds
Rstricted fund details are set out in the table and are expected to be used in 22/23.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Company fund balances at March 31 2023
Unrestricted funds
Restricted
Total
are represented by:-
General
Designated
Funds
£
£
£
£
Fixed assets
67,763
-
-
67,763
Net current assets
470,569
424,773
77,319
972,661
538,332
424,773
77,319
1,040,424
Company fund balances at March 31 2022
are represented by:-
Unrestricted funds
Restricted
Total
General
Designated
Funds
£
£
£
£
Fixed assets
73,398
-
-
73,398
Net current assets
340,875
633,503
(16,933)
957,445
414,273
633,503
(16,933)
1,030,843
Free Reserves:
2023
2022
£
£
Net current assets
470,569
340,875		 STATEMENT OF FUNDS (continued)
Transfers
Transfers have been made as detailed in the table to create new designated funds.
A transfers has been made to enhance the creative learning fund and to reprsent the investment in fixed assets.
Designated funds
Programme reserve
To provide support for future seasons programming.
Creative learning fund
To support the work of creative learning
Advertising fund
To suport online advertising
Epos and Inventory systems
To purchase new systems
Office improvemnts
To reconfigure the office accomodation
Invested in fixed assets
Represents the funds invested in fixed assets
Restricted funds
Rstricted fund details are set out in the table and are expected to be used in 22/23.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Company fund balances at March 31 2023
Unrestricted funds
Restricted
Total
are represented by:-
General
Designated
Funds
£
£
£
£
Fixed assets
67,763
-
-
67,763
Net current assets
470,569
424,773
77,319
972,661
538,332
424,773
77,319
1,040,424
Company fund balances at March 31 2022
are represented by:-
Unrestricted funds
Restricted
Total
General
Designated
Funds
£
£
£
£
Fixed assets
73,398
-
-
73,398
Net current assets
340,875
633,503
(16,933)
957,445
414,273
633,503
(16,933)
1,030,843
Free Reserves:
2023
2022
£
£
Net current assets
470,569
340,875		 STATEMENT OF FUNDS (continued)
Transfers
Transfers have been made as detailed in the table to create new designated funds.
A transfers has been made to enhance the creative learning fund and to reprsent the investment in fixed assets.
Designated funds
Programme reserve
To provide support for future seasons programming.
Creative learning fund
To support the work of creative learning
Advertising fund
To suport online advertising
Epos and Inventory systems
To purchase new systems
Office improvemnts
To reconfigure the office accomodation
Invested in fixed assets
Represents the funds invested in fixed assets
Restricted funds
Rstricted fund details are set out in the table and are expected to be used in 22/23.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Company fund balances at March 31 2023
Unrestricted funds
Restricted
Total
are represented by:-
General
Designated
Funds
£
£
£
£
Fixed assets
67,763
-
-
67,763
Net current assets
470,569
424,773
77,319
972,661
538,332
424,773
77,319
1,040,424
Company fund balances at March 31 2022
are represented by:-
Unrestricted funds
Restricted
Total
General
Designated
Funds
£
£
£
£
Fixed assets
73,398
-
-
73,398
Net current assets
340,875
633,503
(16,933)
957,445
414,273
633,503
(16,933)
1,030,843
Free Reserves:
2023
2022
£
£
Net current assets
470,569
340,875		 STATEMENT OF FUNDS (continued)
Transfers
Transfers have been made as detailed in the table to create new designated funds.
A transfers has been made to enhance the creative learning fund and to reprsent the investment in fixed assets.
Designated funds
Programme reserve
To provide support for future seasons programming.
Creative learning fund
To support the work of creative learning
Advertising fund
To suport online advertising
Epos and Inventory systems
To purchase new systems
Office improvemnts
To reconfigure the office accomodation
Invested in fixed assets
Represents the funds invested in fixed assets
Restricted funds
Rstricted fund details are set out in the table and are expected to be used in 22/23.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Company fund balances at March 31 2023
Unrestricted funds
Restricted
Total
are represented by:-
General
Designated
Funds
£
£
£
£
Fixed assets
67,763
-
-
67,763
Net current assets
470,569
424,773
77,319
972,661
538,332
424,773
77,319
1,040,424
Company fund balances at March 31 2022
are represented by:-
Unrestricted funds
Restricted
Total
General
Designated
Funds
£
£
£
£
Fixed assets
73,398
-
-
73,398
Net current assets
340,875
633,503
(16,933)
957,445
414,273
633,503
(16,933)
1,030,843
Free Reserves:
2023
2022
£
£
Net current assets
470,569
340,875
Unrestricted funds
General
Designated
£
£
67,763
-
470,569
424,773		 Restricted
Funds
£
-
77,319		 Total
£
67,763
972,661
538,332
424,773		 77,319 1,040,424
Unrestricted funds
General
Designated
£
£
73,398
-
340,875
633,503		 Restricted
Funds
£
-
(16,933)		 Total
£
73,398
957,445
414,273 633,503 (16,933) 1,030,843
2023
£
470,569		 2022
£
340,875

16 STATEMENT OF FUNDS (continued)

17 ANALYSIS OF NET ASSETS BETWEEN FUNDS

30

BLACKPOOL GRAND THEATRE (ARTS & ENTERTAINMENTS) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2023

18 RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASHFLOW FROM OPERATING ACTIVITIES

Net income/(expenditure)
Add back depreciation
Deduct interest income shown in investing activities
Decrease/(increase) in stock
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Net cash generated from/(used in) operating activities		 Group
Group
Charity
Charity
2023
2022
2023
2022
£
£
£
£
9,568
154,870
9,581
154,883
17,541
12,934
17,541
12,934
(12,609)
(1,740)
(12,197)
(1,739)
(6,912)
(7,501)
-
-
20,480
57,499
(54,924)
19,178
22,899
612,445
10,591
619,845
50,967
828,507
(29,408)
805,101

Changes in Net Debt

The Group and the Charity had no net debt in either year

19 CONSTITUTION

The Company is limited by guarantee and does not have a share capital. In the event of the Company being wound up the members are committed to contributing £1 each.

20 TAXATION

The company is a registered charity and is entitled to claim annual exemption from UK corporation tax under sections 466 to 477 of the Corporation Tax Act 2010.

21 CAPITAL COMMITMENTS

The company had no capital commitments at the year end (2016 - none).

22 LEASE COMMITMENTS

Operating leases

The charity and group had the following future minimum commitments under non cancellable operating leases:

Not later than one year
Later than one year and not later than five years
Greater than 5 years		 Group
Group
Charity
Charity
2023
2022
2023
2022
£
£
£
£
40,000
40,000
40,000
40,000
160,000
160,000
160,000
160,000
280,000
280,000
280,000
280,000
480,000
480,000
480,000
480,000

31

BLACKPOOL GRAND THEATRE (ARTS & ENTERTAINMENTS) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2023

23 RELATED PARTY TRANSACTIONS

Blackpool Grand Theatre Catering Company Ltd (Catering)

Catering is the wholly owned trading subsidiary of the charity (A&E) and operates the bars and sells ice-creams and other catering services in the theatre. During the year the charity charged Catering for the following services:

Staff costs
Room hire charges
Management fee
Sales to A&E by Catering
Profits Donated under gift aid by Catering to A&E
Balance outstanding at the year end		 2023
£
93,764
100
50,986
144,850
2,973
43,008
124,619		 2022
£
62,446
100
26,444
88,990
1,704
19,186
55,982

Blackpool Grand Productions Ltd (BGP)

BGP is the wholly owned trading subsidiary of A&E and was formed as a production company for in house productions. During the year it earned nil (2022- £224,411) from A&E for production services and was charged nil (2022 - £238,240) by A&E for subcontracts production services and costs.

Balances outstanding at the year end (1) 13,828

Blackpool Grand Theatre Trust Ltd (The Trust)

A&E works closely with the Trust, a registered charity, which owns the theatre and to which it pays rent and provides management services.

During the year A&E had the following transactions with the Trust, excluding VAT:

Rent and hire charges to A&E
Management charges to the Trust
Amount due (to)/from the Trust at the year end		 40,000
70,110
9,683		 86,115
66,566
-

A formal lease was entered into between the Trust and A&E in respect of the theatre in January 2022. This provides for a basic rent of £40,000 pa with an additional payment based on 1% of the unrestricted surplus, after free reserves reach £250,000 and after providing for a £20,000 allocation to the programme reserve. Only the minimum annual payments are shown in note 23.

The Trust has entered into a formal agreement to waive any rent due above the basic rent for 21/22.

Friends of the Grand Theatre (The Friends)

A&E works closely with the Friends of The Grand. The scope of activities undertaken by The Friends has been interrupted by the period of closure. Throughout, they have remained committed advocates for Blackpool Grand Theatre and we are working together to support The Friends with their governance arrangements, fundraising ambitions and social activities in a post-Covid environment. Since re-opening, members of The Friends have given their time as heritage tour guides and signed up as members of The Grand’s new volunteer scheme. The Friends of the Grand have made donations in each of the last two years to support the work of A&E of £5,300 per year.

A&E support The Friends with fundraising activities and sell tickets on their behalf for fundraising events. At the year-end it held the following events:

There are no other related party transactions that are required to be disclosed.

32

The Charity is controlled by its directors.