2021-08-31-accounts - The Kings Theatre Trust Limited

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		Page
Report ofthe Trustees	1	to	5
Report ofthe Independent Auditors	6	to	8
Statement ofFinancial Activities		10
Balance Sheet
Cash Fkns Statement
Notes to the Cash Flow Statement		13
Notes tothe Financial Statements	14	to	25

						2021	2020
				Unrestricted	Restricted	Total	Total
				funds	funds	funds	funds
			Notes	5		5	E
INCOME AND ENDOWMENTS		FROM
Donations and legacies			2	568,240	382,028	930,268	391,601
Charitable activities			4
Operahon ofthe theatre				197,111		197,111	1,226,453
Ancillary tmding				24,443		24,443	244,'I79
Education				912		912	45,837
Investment income
Total				790,707	362,028	1,152,735	1,908,077
EXPENDITURE ON
Charitable activities
Operation ofthe theatre Ancillary trading				668,518 149,568	380,232	1,048,750 '149',568	1,502,552 261,663
Theatre restoration				70,149	4,123	74,272	86,980
Education				77,552		77,552	137,025
Other							19,100
Total				965,787	384,355	1,350,142	2,007,320
NET INCOMEI(EXPENDITURE)				(175,090)	(22,327)	(197,407)	(99,243)
RECONCILIATION OF FUNDS
Total funds brought	forerard			597,545	42,734	640,279	739,522
TOTAL FUNDS CARRIED FORWARD				422,465	20,407	442,872	840,279

	BALANCE SHEET $1 AUGUST 2021
		2021	2020
	Notes	6	5
FIXEDASSETS
Intangible assets Tangible assets	12 13	8,077 259,831	12,923 305,541
		267,908	318,464
CURRENT ASSETS
Stocks	14	9,099	9,184
Debtors	15	90,627	52,886
Cash at bank and in hand	16	1,573,897	1,527,790
		1,673,623	1,589,860
CREDITORS
Amounts falling due within one year	17	(1,343,931)	(1,152,820)
NET CURRENT ASSETS		329,692	437,040
TOTAL ASSETSLESSCURRENT
UABIUTIES		597,600	755,504
CREDITORS
Amounts falling due alter more than one	year 18	(154,728)	(115,225)
NET ASSETS		442,872	640,279
FUNDS	21
Unrestricted funds		422,465	597,545
Restricted funds		20,407	42,734
TOTALFUNDS		442,872	640,279

		FOR THE YEAR ENDED	31AUGUST 2021
			2021	2020
		Notes		8
Cash flows from	operating	activities
Cash generated from operations 1			51,121	451,685
Nei cash provided	by operating activities		51,121	451,685
Cash flows hem	investing	activities
Purchase oftangible fixed assets			(5,015)	(107,012)
Interest received			1	7
Nei cash used in	investing activities		(5,014)	(107,005)
Cash flows from	financing	activities financing
Loan repayments	in year			(5,098)
Nst cash provided	by/(used	in) activities		(5,098)
Change in cash	and cash	equivalents
in the reporbng	period		48,107	339,582
Cash and cash equivalents		at the
beginning ofthe	reporting	period	1,527,790	1,188,208
Cash and cash equivalents		at the end
ofthe reporting	period		L573,897	1,527,790

ACTIN/)TIES
					2021f	2020 F
Net expenditure for the reporting				period (as per the Statement
ofFinancial Activities)					(197,407)	(99,243)
Adjustments for.
Depreciation charges					55,571	56,893
Interest received Decrease/(incrsase)	in	stocks			(I) 85	(7) (1,377)
(Increase)/decrease	in	debtors			(37,741)	42,527
Increase in creditors					230,614	452,892
Net cash provided	by	operations			51,121	451,665
ANALYSIS OF CHANGES			IN NET	FUNDS
				At 1.9.20	Cash flow	At 31.8.21 f
Net cash
Cash at bank and in	hand			1,527,790	46,107	1,573,897
				1,527,790	46,107	1,573,897
Debt
Debts falling due within		1year		(10,388)	(3,648)	(14,036)
Debts falling due after		1 year		(115,225)	(39,503)	(154,728)
				(125,613)	(43,151)	(168,764)
Total				1,402,177	2,956	1,405,133

DONATIO	NS AND LEGACIES
		2021	2020
			2
Donations	snd legacies	20,613	27,384
Grants		894,655	349,217
Donated	services and facilities	15,000	15,000
		930,288	391,601

Grants received, induded in	the above,	are as follows:
			2021	2020 f
Operafional grants receivable Job retention scheme			541,737 352,918	77,724 271,493
			894,655	349,217
INVESTMENT II4COME			2021	2020
			6	5
Deposit account interest			1	7
All investment income is derived from		assets held in the United Kingdom.
INCOME FROM CHARITABLE ACTMTIES
			2021	2020
	Activity			5
Soxoffice sales and
recharges Ancillary Trading	Operation Ancillary	ofthe theatre trading	197,111 24,443	1,226,453 244,179
Education and Youth
income	Education		912	45,837
			222,468	1,516,469

CHARITABLE ACTMTIES COSTS
	Direct	Support
	Costs (see	costs (see
	note 8) E	note 7) 5	Totals 5
Operation ofthe theatre	984,230	64,520	1,048,750
Ancillary trading Theatre restoration	130,295 74,272	19,273	149,568 74,272
Education	77,552		77,552
	1,266,349	83,793	1,350,142

DIRECT COSTS	OF CHARITABLE ACTI'NTIES
		2021	2020
		5	9
Staff costs		7«,622	1,075,976
Rates and water		1,394	10,858
Insurance		25,092	26,938
Light and heat Suiidries		34,175 2,625	29,600 5,161
Minor building Projects Education cosls		36,581 2,MB	36,815 20,520
Training costs Cleaning costs Raubns repairs Major building repairs Irrecoverable VAT		5,268 8,098 33,739 39,961	7,869 14,894 22,494 21,157 24,143
Big project casts Show praductian	costs	4,123 193,702	4,876 286,378
Ancillary trading expenses Technical and IT		10,619 34,081	65,069 32,785
Marketing Bank charges Depreciation		30,778 36,«4 55,569	109,315 64,483 56,'694
		1,266,349 Governance	1,916,005

SUPPORT COSTS
		Management	costs	Totals
		5	9
Operation afthe theatre		41,886	22,634	64,520
Ancillary trading		12,512	6,761	19,273
		54,398	29,395	83,793
Activity	Basis ofallocation
Management	Time
Governance costs	Time

SUPPORT Governance	COSTS ~ continued costa
				2021	2020
		Operation
		ofthe	Ancillary	Total	Total
		theatre	trading 5	activities 6	ac8vities 6
Auditors' remuneration		3,234	966	4,200	6,375
Accountancy Consultancy	and legal fees fees	9,627 9,773	2,876 2,919	12,503 12,692	17,671 9,153
		22,634	6,761	29,395

Net inco	me/(expenditure) is stated after charging/(credi	ting):
		2021	2020
			6
Auditors'	remuneration	4,200	6,375
Depreciation - owned assets Website costs amcrtisation		50,725 4,846	52,047 4,846

and employee remuneration and benefits of the key management per E121,86B(2020:E189,100).	and employee remuneration and benefits of the key management per E121,86B(2020:E189,100).	and employee remuneration and benefits of the key management per E121,86B(2020:E189,100).	sonnel of the	charity wa
COMPARATIVES FORTHE STATEMENT OF FINANCIAL ACTIVITIES
		Unrestricted	Restricted	Total
		funds	funds	funds
		E	E	E
INCOME AND ENDOWMENTS	FROM
Donations and legacies		120,108	271,493	391,601
Charitable activities
Operation ofthe theatre		1,226,453		1,226,453
Ancifiary trading		244,179		244,179
Educefion		45,837		45,837
Investment income
Total		1,636,584	271,493	1,908,077
EXPENDITURE ON
Charfiable activities
Operation ofthe theatre		1,225,82D	276,932	1,502,552
Ancillary trading		281,883		261,663
Theatre restoration		82,104	4,876	86,980
Education		137,025		137,025
Other		19,10D		19,100
Total		1,725,512	281,808	2,007,320
NET INCOMEI(EXPENDITURE)		(88,928)	(10,315)	(99,243)
RECONCILIATION OF FUNDS
Total funds brought forward		686,473	53,049	739,522
TOTAL FUNDS CARRIED FORWARD		597,545	42,734	640,279

INTANGIBLE FIXEDASSETS
	Website
	costs
	f
COST
At 1 September 2020 and
31August 2021	24,230
AMORTISAllON
At 1 September 2020	11,307
Charge for year	4,846
At 31August 2021	16,153
NET BOOK VALUE
At 31August 2021	8,077
At31 Auguet2020	12,923

TANGIBLE FIXEDASSETS
		Improvements
	Freehold	to	Plant	and
	property	property f	machinery f
COST
At 1 September 2020	141,783	72,163	1,892
Additions
At 31August 2021	141,783	72,163	1,892
DEPRECIATION
At 1 September 2020	22,700	28,820		378
Charge for year	2,836	7,216		189
At 31August 2021	25,536	36,036		567
NET BOOK VALUE
At 31August 2021	116,247	36,127	1,325
At 31August 2020	119,083	43,343	1,514

13.	TANGIBLE FIXEDASS	ETS - continued
			Fixtures
			and	Computer
			fittings	equipment	Totals
			E	6
	COST
	At 1 September 2020 Additions		230,080 4,407	51,823 608	497,741 5,015
	At 31August 2021		234,487	52,431	502,756
	DEPRECIATION
	At 1 September 2020 Charge for year		127,664 29,997	12,638 10,487	192,200 50,725
	At 31August 2021		157,661	23,125	242,925
	NET BOOKVALUE
	At 31August 2021		76,826	29,306	259,831
	At31 August2020		102,416	39,185	305,541
1*	STOCKS
				2021	2020
				6
	Stocks			9,099	9,184
15.	DEBTORS:AMOUNTS	FALLING DUE WITHIN OI4E YEAR
				2021	2020
				5
	Trade debtors			960	15,494
	Other debtors			89,667	37,392
				90,627	52,886

CREDITORS: AMOUNTS	FALLING DUE WITHIN ONE Y	EAR
		2021	2020
			E
Bank loans and overdrafts	(see note 19)	14,036	10,388
Trade creditors			47,857
Social security and other	taxes	9,551	64,890
VAT		9,275	10,763
Other creditors		1,276,725	1,018,922
		1,343,931	1,152,820

Deferred income represent yesI;	s	income received in advance for	tickets for sh	ows in the	next financi
				2021	2020
				E	E
Brought forward			849,086		493,184
Amount released to incoming resources			(849,086)		(493,184)
Amount deferred in year			1,062,823		849,086
Carried forward			1,062,823		849,086
CREDITORS: AMOUNTS	FALUNG DUE AFTER MORE THAN ONE YEAR
				2021	2020
					E
Bankloans(see note 19)				154,728	115,225
SECURED DEBTS
The charitable company has		a bank loan with atotal balance ofE168,765as		at 31August	2021 (202
E125,533)which is secured		against 28Albert Road, Southsea	and was refinanced during		the year.
LOANS
An analysis ofthe maturity	ofloans is given below:
				2021	2020
					E
Amounts falling due within	one year on demand:
Bank loans				14,036	10,388
Amounts falling due between		two and five years:
Bank loans - 2-5years				93,512	41,556
Amounts falling due in more		than five years:
Repayable by instalments:
Bank loans alter more than	5years			61,216	73,669

ANALYSIS O	F NETAS	SETS B	ETWEEN FUNDS
					2021	2020
			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
			5	6	5	8
Fixed assets			267,908		267,908	318,464
Current assets			1,653,216	20,407	1,673,623	1,589,860
Current liabilities			(1,343,931)		(1,343,931)	(1,152,820)
Long term liabilities			('I54,728)		(154,728)	(115,225)
			422,465	20,407	442,872	640,279
MOVEMENT	IN FUNDS
					Net
					movement	At
				At 1.9.20	in funds	31.8.21
					6	F
Unrestricted	funds
General fund				597,545	(175,080)	422,465
Restricted funds
Development	Project Fund			25,430	(9,562)	15,868
FeaNbilily study				17,304	(12,765)	4,539
				42,734	(22,327)	20,407
TOTAL FUNDS				640,279	(197,407)	442,872
Net movement	in funds,	induded	in the above are as follows:
				Incoming	Resources	Movement
				resources	expended	in funds
				6	6	8
Unrestricted	funds
General fund				790,707	(985,787)	(175,080)
Restricted funds
Development	Project Fund				(9,562)	(9,562)
Feasibility study				(12,765)		('f2,765)
Job retention	scheme			374,793	(374,793)
				362,028	(384,355)	(22,327)
TOTALFUNDS				1,152,735	(1,350,142)	(197,407)

Comparatlves	for moveme	nt In funds
				Net
				movement	At
			At 1.9.19	in funds	31.8.20
			5	6	5
Unresbtcted	funds
General fund			686,473	(88,928)	597,545
Restricted funds
Development	Project Fund		35,745	(10,315)	25,430
Feasibility study			17,304		17,304
			53,049	(10,315)	42,734
TOTALFUNDS			739,522	(99,243)	640,279
Comparalive	net movement	in funds, induded	in the above are as follows:
			Incoming	Resources	Movemenl
			resources	expended	in funds
			5	5
Unrestricted	funds
General fund			1,636,584	(1,725,512)	(88,928)
Restricted funds
Development	Project Fund			(10,315)	(10,315)
Job retention	scheme		271,493	(271,493)
			271,493	(281,808)	(10,315)
TOTAL FUNDS			1,908,077	(2,007,320)	(99,243)