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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|
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|||||||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|
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|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|
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|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|
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|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|
##
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|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|
##
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|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||||
##
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|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|
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|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|
##
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|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||
##
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|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|
##
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|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|
##
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|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)|
##
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|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)|
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