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2021-03-31-accounts

Contents
Page
Reference
and administrative
information		 1 —2
Trustee's
annual
report (including
the strategic		 report) 3 —21
Independent
auditor's
report		 22 —25
Consolidated
statement
of financial
activities		 26
Charity statement
of financial
activities		 27
Consolidated
and charity
balance sheets		 28
Statement
of cash flow, notes to the statement		 of cash flow 29
Notes to the financial
statements		 30 —47

incorporating
co		 nsolid ated income and expenditur e
account)
Note Unrestricted funds Restricted funds Year Year
Designated Operations Projects Long term ended ended
capital project 31 March 31 March
2021 2020
F
Income from:
Donations
and legacies		 66 8,786,639 8,786,705 5,285,735
Income from charitable
activities:
Operation oftheatre and arts
development 4 559,341 32,895 592,236 864,563
Income from other trading activities:
Commercial
trading		 operation 5 5,833 5,833 78,749
Subsidiary
trading		 operation 6 9,000 9,000 8,053
Investment
income		 107 107 6533
Other income 51,572 159,194 210,766 147,334
Total income 625,919 192,089 8,786,639 9,604,647 6,390,967
Expenditure
on:
Costs ofraising funds:
Cost of raising voluntary income 69,495 69,495 92,014
Subsidiary
trading		 operation 6 2,312 2,312 1,935
Expenditure
on charitable		 activities:
Operation
oftheatre and		 arts
development 8 658,141 29,329 687,470 796,179
Other 152,835 152,835 128,821
Total expenditure 729,948 182,164 912,112 1,018,949
Net (expenditure)/income
for the year (104,029) 9,925 8,786,639 8,692,535 5,372,018
Transfers between funds (5,833) 5,833
Net movement
in		 funds for
the period (109,862) 9,925 8,792,472 8,692,535 5,372,018
Reconciliation
of		 funds:
Total funds brought forward 250,000 563,328 38,184 14,139,679 14,991,191 9,619,173
Total funds carried forward 1?,18 250,000 453,466 48,109 22,932,151 23,683,726 14,991,191
Income Expenditure Total
The allocation between funds in 2020was as follows: F
Unrestricted 958,135 (860,373) 97,?62
Restricted - Projects 147,487 (155,915) (8,428)
Restricted - Long Term Funds 5,285,345 (2,661) 5,282,684
Tote I Com pany 6,390,967 (1,018,949) 5,372,018

incorporating
income		 and expenditur expenditur e
account)
Note Unrestricted funds Restricted funds Year Year
Designated Operations Projects Long term ended ended
capital project 31 March 31 March
2021 2020
F
Income from:
Donations
and legacies		 66 8,786,639 8,786,705 5,285,735
Income from charitable activities:
Operation
oftheatre and arts
development 4 559,341 32,895 592,236 864,563
Income from other trading activities:
Commercial
trading operation		 5 5,833 5,833 78,749
Investment
income		 6,225 6,225 32,849
Other income 51,572 159,194 210,766 147,334
Total income 623,037 192,089 8,786,639 9,601,765 6,409,230
Expenditure
on:
Costs ofraising funds:
Cost ofraising voluntary
income 69,495 69,495 92,014
Expenditure
on charitable
activities:
Operation
oftheatre and arts
development 658,141 29,329 687,470 796,179
Other 152,835 152,835 128,821
Total expenditure 727,636 182,164 909,800 1,017,014
Net (expenditure)/income
for the year (104,599) 9,925 8,786,639 8,691,965 5,392,216
Transfers between funds (5,833) 5,833
Net movement
in funds for
the period (110,432) 9,925 8,792,472 8,691,965 5,392,216
Reconciliation
offunds:
Total funds brought forward 250,000 557,068 38,184 14,139,679 14,984,931 9,592,715
Total funds carried forward 17, 18 250,000 446,636 48,109 22,932,151 23,676,896 14,984,931
Income Expenditure Total
The allocation between funds in 2020 was as follows: E F E
Unrestricted 976,398 (858,438) 117,960
Restricted - Projects 147,487 (155,915) (8,428)
Restricted - Long Term Funds 5,285,345 (2,661) 5,282,684
Total Company 6,409,230 (1,017,014) 5,392,216

Note The Group The Charity The Charity
31 March 2021 31 March 2020 31 March 2021 31 March 2020
f F E
Fixed assets
Tangible assets 12a 22,343,029 13,666,958 22,343,029 13,666,958
Investments 12b 5 5
22,343,029 13,666,958 22,343,034 13,666,963
Current assets
Debtors 13 2,370,239 490,273 2,370,080 489,860
Cash at bank and in hand 642,926 2,252,067 635,544 2,245,609
3,013,165 2,742,340 3,005,624 2,735,469
Creditors: amounts falling due
within
one		 year 14 (1,672,468) (1,418,107) (1,671,762) (1,417,501)
Net current assets 1,340,697 1,324,233 1,333,862 1,317,968
Net assets 16 23,683,726 14,991,191 23,676,896 14,984,931
Represented
by:
Operations fund 453,466 563,328 446,636 557,068
Designated fund 250,000 250,000 250,000 250,000
Total unrestricted funds 17 703,466 813,328 696,636 807,068
Projects 48,109 38,184 48,109 38,184
Long term funds 22,932,151 14,139,679 22,932,151 14,139,679
Total restricted
funds		 18 22,980,260 14,177,863 22,980,260 14,177,863
Total funds 23,683,726 14,991,191 23,676,896 14,984,931

The Group The Charity
31 March 2021 31 March 2020 31 March 2021 31 March 2020
E E
Cash provided by operating
activities		 7,057,501 5,659,284 7,056,577 5,681,769
Cash flows from investing activities
Interest
income		 107 6,533 107 6,533
Purchase
of tangible		 fixed assets (8,666,749) (6,680,935) (8,666,749) (6,680,935)
Cash used in investing activities (8,666,642) (6,674,402) (8,666,642) (6,674,402)
Cash used in financing activities
Decrease
in cash and		 cash equivalents in the
year (1,609,141) (1,015,118) (1,610,065) (992,633)
Cash and cash equivalents at the beginning of
the year 2,252,067 3,267,185 2,245,609 3,238,242
Total cash and cash equivalents at the 642,926 2,252,067 635,544 2,245,609
end ofthe year

econcili ation
of		 ne t mov em ent
in fund		 s to net cash flow from oper ating
activities:		 ating
activities:
The Group The Charity
2021 2020 2021
f		 2020
F
Net movement
in funds		 8,692,535 5,372,018 8,691,965 5,392,216
Add back depreciation charge 24,546 18,159 24,546 18,159
Deduct interest income shown in investing
activities (107) (6,533) (107) (6,533)
(Increase)/decrease in debtors (1,879,966) 270,585 (1,880,220) 270,926
Increase in creditors 220,493 5,055 220,393 7,001
Net cash provided by operating activities 7,057,501 5,659,284 7,056,577 5,681,769

iation
is calculated
so as to write off
ed
useful lives on a straight
line basis		 iation
is calculated
so as to write off
ed
useful lives on a straight
line basis		 the cost less residu
as follows:		 al
value of tangible
fixed
Assets
in the course ofconstruction		 Nil
Improvements
to leasehold		 property 2% per annum or period oflease ifshorter
Plant and machinery 10% - 20% per annum
Musical instruments 5%per annum
Computer
equipment		 33% - 100%per annum
Computer
software		 20% per annum
Office equipment 10%per annum

Creditors
and provisions		 Creditors
and provisions		 Creditors
and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting
from apast event
that will probably
result		 in the transfer offunds 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
value after allowing
for any trade discounts		 due.
Donations
and legacies —analysis		 by fund type:
Unrestricted funds Restricted funds Total Total
Designated Operations Projects Long term 2021 2020
E E F
Public donations 66 66 390
Growth
Deal		 246,000 246,000
66 246,000 246,066 390
Capital project income:
European
Regional Development
Fund 750,554 750,554 635,592
Arts Council England 1,300,154 1,300,154 2,094,672
Comwall
Council		 1,940,672 1,940,672 211,073
HM Treasury
Comwall 8 Isles		 ofScllly LEP- 124,356
Growth Deal
Comwall 8 Isles		 ofScilly LEP- 1,090,198 1,090,198 646,747
Getting
Building
Fund		 820,325 820,325
National
Lottery		 Heritage Fund 857,486 857,486 854,655
Kickstart via Arts Council England 1,520,755 1,520,755
Cornwall
Council		 —RefTCC
Works (18,500)
Trust and Foundations 139,500 139,500 353,250
Major Donors 250,000
Private Donations 120,995 120,995 133,500
8,540,639 8,540,639 5,285,345
Charity 66 8,786,639 8,786,705 5,285,735

ncome from charitable
activit		 ies
Unrestricted funds Restricted funds Total Total
Designated Operations Projects Long term 2021 2020
E E E K F
Programme/ticket
sales		 380
Ticketed events and workshops* 9,419 32,895 42,314 71,185
9,419 32,895 42,314 71,565
Core funding:
Arts Council England:
National
Portfolio funding		 383,206 383,206 376,282
Cornwall
Council:
Strategic Arts grants 166,716 166,716 166,716
Arts Council England:
HFC closure support costs 250,000
549,922 549,922 792,998
Charity 559,341 32,895 592,236 864,563

ommercial
trading operatio		 ns
Unrestricted funds Restricted funds Total Total
Designated Operations
F		 Projects Long term 2021f 2020
Memberships 755
Gift aid receipt from HMRC 5,833 5,833 77,994
5,833 5,833 78,749

ubsidiary
trading oper		 at ions
Cornwall Theatre
Hall for Cornwall
Limited		 Productions Limited
2021 2020 2021
f		 2020
E
Turnover 9,000 8,053 18,523
HMRC receipt (18,513)
Cost ofoperations (2,312) (1,935)
Net profit/(loss) 6,688 6,118 10
Gift aid donation
to parent		 (6,118) (26,316)
Balance brought
forward		 6,262 26,460 (421,188) (421,188)
Retained
in the subsidiary		 6,832 6,262 (421,188) (421,188)
he Hall For Comwall
Trust		 (The Trust) is the parent company ofthree wholly owned subsidiaries.
Hall For Cornwall
Limited		 undertakes the Trust's commercial activities which
indude		 bar and catering, event hires and
ponsorship.
Included
in the costs ofthe Hall
Nil totalling fNil (2020:ENil). The company		 For Cornwall
Limited is an occupancy licence
will recommence
the above on reopening.		 fee ofENil and a management fee of
Comwall
Theatre
Productions		 Limited accounts for the research,
development
and
pre-production		 costs of any in-house
roductions
on behalf of The		 Trust. On consolidation, the expenditure is included
in the		 operation of The Hall. The company
was dormant
in the period.
ickets Cornwall
Limited, remained
dormant		 throughout the period.
he results ofthe subsidiaries are consolidated
on		 a line by line basis in the Group financial statements.
Other income
Unrestricted funds Restricted funds Total Total
Designated Operations Projects
Long term		 2021 2020
F E
Heritage
Lottery Fund—
Revealing
City Hall		 130,109 130,109 128,821
HMRC Job Retention Scheme 51,572 51,572
Cultural
Compact —Truro		 29,085 29,085
HMRC Theatre tax refund 18,513
Group and charity other
income 51,572 159,154 210,766 147,334

Theatre operations
Unrestricted funds Restricted funds Total Total
Designated Operations Projects Long term 2021 2020
E E
Programme
services and use
of premises 134,636 134,636 178,834
Support and Governance
costs 370,934 370,934 407,546
Other costs:
Depreciation
Non-recoverable
VAT *		 24,546
11,305		 24,546
11,305		 18,159
25,253
Group total 541,421 541,421 629,792
Charity total 541,421 541,421 629,792
Public engagement
HFC Youth Engagement 7,270 15,572 22,842 75,625
Talent Development
Programme
**		 50,699 13,757 64,456 52,828
Community
Club		 2,160
Arts development 58,751 58,751 35,774
Group and Charity total 116,720 29,329 146,049 166,387
Total charitable
expenditure
—Group		 658,141 29,329 687,470 796,179
Total charitable
expenditure
-Charity		 658,141 29,329 687,470 796,179

8c Analysis of progr amm e services and use of premises
Unrestricted Unrestricted
2021 2020
Marketing,
communications		 and digital engagement 105,973 119,271
Boxoffice services 11,934 18,886
Premises
and Front of House team		 16,729 40,677
Group and charity 134,636 178,834
8d Analysis ofsupport costs
Unrestricted Unrestncted
2021f 2020
Finance and ITservices 211,024 200,113
Central administration
and		 Directorate 121,553 173,121
HR services 6,460 15,968
Group and charity 339,037 389,202
8e Governance costs
2021f 2020
L
Audit, accountancy
and
Legal and professional
Trustees' expenses		 advisory fees
fees		 14,493
15,289
2,115		 6,675
6,572
5,097
Group and charity 31,897 18,344
8f Other charitable activities
Restricted Restricted
Funds Funds
Projects Projects
2021 2020
E
Group and charity
Project costs —Revealing City Hall 130,109 128,821
Cultural
Compact Truro		 22,726
152,835 128,821

No
For		 tes to the financial s
the year ended 31March		 tes to the financial s
the year ended 31March		 tatements
2027
9 Net (expenditure)/income for the year is stated after charging:
Group Group Charity Charity
2021 2020 2021 2020
F E
Operating leases 11,779 18,112 11,779 18,112
Depreciation 24,546 18,159 24,546 18,159
Auditors' remuneration
Audit fees 8,900 7,250 6,500 5,000
Other 2,550 750 2,275 750

taff costs, trustee remuneration
and expenses and
taffcosts		 cost of key management
personnel
2021 2020
Salaries and wages 548,495 492,149
Social security costs 52,631 51,570
Pension costs 11,519 10,317
Job Retention Scheme Support (51,572)
Net staff costs 561,073 554,036

(2020:ENil).
Year ended Year
31 March ended 31
2021 March 2020
F
373,183 371,979

he average number ofFTE employees
during the period was:
2021 2020
Theatre operations 2.6 3.5
Public engagement 3.8 3.8
Raising funds 2.6 1.6
Central Management and services 6.3 4.8
Average FTE 15.3 13.7

13 Debtors
Group Group Charity Charity
2021 2020 2021 2020
E F
Trade debtors 96,722 44,951 95,822 43,741
Amount due from related companies 741 797
Prepayments and accrued income 32,689 19,129 32,689 19,129
Other debtors 2,240,828 426,193 2,240,828 426,193
2,370,239 490,273 2,370,080 489,860
14 Creditors: amounts falling due within one year
Group Group Charity Charity
2021 2020 2021 2020
Trade creditors 110,670 129,298 110,670 129,298
Accruals 1,465,786 1,264,418 1,465,080 1,263,812
Deferred income (note 15) 77,435 9,794 77,435 9,794
Other
creditors		 including taxation and social
security 18,577 14,597 18,577 14,597
1,672,468 1,418,107 1,671,762 1,417,501

Group Group Charity Charity
2021 2020 2021 2020
E
Balance at 1 April 2020 9,794 35,581 9,794 35,581
Released to incoming resources (9,794) (35,581) (9,794) (35,581)
Deferred in the year 77,435 9,794 77,435 9,794
Balance at 31 March 2021 77,435 9,794 77,435 9,794

Current year
Restricted funds Unrestricted funds 2021
Projects Long term Designated Operations Total
E E
Tangible assets 22,343,029 22,343,029
Current assets 48,109 1,975,179 250,000 739,877 3,013,165
Current liabilities (1,386,057) (286,411) (1,672,468)
48,109 22,932,151 250,000 453,466 23,683,726

Restricted funds Unrestricted funds 2020
Projects Long term Designated Operations Total
Tangible assets 13,666,958 13,666,958
Current assets 38,184 1,754,194 250,000 699,962 2,742,340
Current liabilities (1,281,473) (136,634) (1,418,107)
38,184 14,139,679 250,000 563,328 14,991,191

Current year Current year Current year
Balance at Income Expenditure Balance at
1 April and and 31 March
2020 transfers transfers 2021
F E
Group
Unrestricted funds: Designated
Operational Reserve 250,000 250,000
Unrestricted funds: Operations
Operations fund 563,328 625,919 (735,781) 453,466
Total unrestricted funds 813,328 625,919 (735,781) 703,466
Charity
Unrestjicted funds: Designated
Operational Reserve 250,000 250,000
Unrestricted funds: Operations
Operations fund 557,068 623,037 (733,469) 446,636
Total unrestricted funds 807,068 623,037 (733,469) 696,636

Prior year
Balance at Income Expenditure Balance at
1 April and and 31 March
2019 transfers transfers 2020
F E E
Group
Unrestricted funds: Designated
Operational Reserve 250,000 250,000
Unrestricted funds: Operations
Operations fund 542,700 958,135 (937,507) 563,328
Total unrestricted funds 792,700 958,135 (937,507) 813,328
Charity
Unrestricted funds: Designated
Operational Reserve 250,000 250,000
Unrestricted funds: Operations
Operations fund 516,242 976,398 (935,572) 557,068
Total unrestricted funds 766,242 976,398 (935,572) 807,068

Unrestricted funds Restricted funds Restricted funds Period
Designated Operations projects Long term ended
capital project 31 March
2020
Income from:
Donations
and legacies		 390 5,285,345 5,285,735
Operation
oftheatre and		 arts development
845,897 18,666 864,563
Commercial
trading		 operation 78,749 78,749
Subsidiary
trading		 operation 8,053 8,053
Investment
income		 6,533 6,533
Other income 18,513 128,821 147,334
Total income 958,135 147,487 5,285,345 6,390,967
Expenditure
on:
Costs ofraising funds:
Cost ofraising voluntary income 92,014 92,014
Subsidiary
trading
operation
Expenditure
on charitable
activtti'es:		 1,935 1,935
Operation
oftheatre and		 arts development
Other 766,424 27,094
128,821		 2,661 796,179
128,821
Total expenditure 860,373 155,915 2,661 1,018,949
Net (expenditure)fincome for the period
97,762 (8,428) 5,282,684 5,372,018
Transfers between funds (77,134) 77,134
Net movement
in		 funds for the period
20,628 (8,428) 5,359,818 5,372,018
Reconciliation
of		 funds:
Total funds brought forward 250,000 542,700 46,612 8,779,861 9,619,173
Total funds carried forward 250,000 563,328 38,184 14,139,679 14,991,191