| Page | |||
|---|---|---|---|
| Report ofthe Trustees | 1 | to | 5 |
| Report ofthe Independent Auditors |
6 | to | 9 |
| Statement ofFinancial Activities | 10 | ||
| Balance Sheet | |||
| Cash Flow Statement | 12 | ||
| Notes tothe Cash Flow Statement | 13 | ||
| Notes tothe Financial Statements | 14 | to | 25 |
| FOR | THE YEAR E | NDED 31 AUGU | ST 2022 | ||||
|---|---|---|---|---|---|---|---|
| 2022 | 2021 | ||||||
| Unrestricted | Designated | Restricted | Total | Total | |||
| funds | Reserves | funds | funds | funds | |||
| Notes | 6 | 6 | 6 | ||||
| INCOME AND | |||||||
| ENDOWMENTS FROM |
|||||||
| Donations and legacies |
2 | 351,698 | 351,698 | 930,268 | |||
| Charitable activities |
|||||||
| Operation ofthe theatre Ancillary trading Education |
1,912,668 405,437 3,977 |
1,912,668 405,437 3,977 |
197,111 24,443 912 |
||||
| Investment income |
19 | 19 | |||||
| Total | 2,673,799 | 2,673,799 | 1,152,735 | ||||
| EXPENDITURE ON | |||||||
| Charitable activities |
|||||||
| Operation ofthe theatre Ancillary trading Theatre restoration |
1,628,525 103,779 83,276 |
10,877 4,640 |
1,639,402 103,779 87,916 |
1,048,750 149,568 74,272 |
|||
| Education | 13,909 | 13,909 | 77,552 | ||||
| Total | 1,829,489 | 15,517 | 1,845,006 | 1,350,142 | |||
| NET | |||||||
| INCOME/(EXPENDITURE) | 844,310 | (15,517) | 828,793 | (197,407) | |||
| RECONCILIATION | OF | ||||||
| FUNDS Total funds brought |
forward | 229,477 | 192,988 | 20,407 | 442,872 | 640,279 | |
| TOTAL FUNDS CARRIED | |||||||
| FORWARD | 1,073,787 | 192,988 | 4,890 | 1,271,665 | 442,872 |
| THE KI | NGS THEAT | RE TRUST | LIMITED (REGISTERED NU | IIIIBER: 03983443) | |
|---|---|---|---|---|---|
| BALANCE SHEET | |||||
| 31AUGUST 2022 | |||||
| 2022 | 2021 | ||||
| Notes | F | F | |||
| FIXEDASSETS | |||||
| Intangible assets Tangible assets |
12 13 |
3,231 258,600 |
8,077 259,831 |
||
| 261,831 | 267,908 | ||||
| CURRENTASSETS | |||||
| Stocks | 14 | 11,704 | 9,099 | ||
| Debtors | 15 | 101,272 | 90,627 | ||
| Cash at bank and in hand | 16 | 1,944,835 | 1,573,897 | ||
| 2,057,811 | 1,673,623 | ||||
| CREDITORS | |||||
| Amounts falling due within one year |
17 | (910,735) | (1,343,931) | ||
| NET CURRENT ASSETS | 1,147,076 | 329,692 | |||
| TOTAL ASSETSLESS CURRENT | |||||
| LIABILITIES | 1,408,907 | 597,600 | |||
| CREDITORS | |||||
| Amounts falling due after more than one year |
18 | (137,242) | (154,728) | ||
| NETASSETS | 1,271,665 | 442,872 | |||
| FUNDS | 21 | ||||
| Unrestricted funds: |
|||||
| General fund | 1,073,787 | 422,465 | |||
| Designated Building |
Restoration | fund | 192,988 | ||
| 1,266,775 | 422,465 | ||||
| Restricted funds | 4,890 | 20,407 | |||
| TOTAL FUNDS | 1,271,665 | 442,872 |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| Notes | 6 | 6 | |||||
| Cash flows from | operating | activities | |||||
| Cash generated | from operations | 1 | 445,839 | 51,121 | |||
| Net cash provided | by operating activities |
445,839 | 51,121 | ||||
| Cash flows from | investing | activities | |||||
| Purchase oftangible fixed assets | (74,920) | (5,015) | |||||
| Interest received | 19 | 1 | |||||
| Net cash used in |
investing | activities | (74,901) | (5,014) | |||
| Change in cash |
and cash | equivalents | |||||
| in the reporting | period | 370,938 | 46,107 | ||||
| Cash and cash | equivalents | atthe | |||||
| beginning ofthe |
reporting | period | 1,573,897 | 1,527,790 | |||
| Cash and cash | equivalents | at the end | |||||
| ofthe reporting | period | 1,944,835 | 1,573,897 |
| FOR THE YEAR ENDED 31A | FOR THE YEAR ENDED 31A | FOR THE YEAR ENDED 31A | FOR THE YEAR ENDED 31A | FOR THE YEAR ENDED 31A | UGUST | 2022 | |||
|---|---|---|---|---|---|---|---|---|---|
| RECONCILIATION | OF NET INCOME/(EXPENDITURE) | TO NET | CASH | FLOW FROM | OPERATING | ||||
| ACTIVITIES | |||||||||
| 2022 | 2021 | ||||||||
| f | F | ||||||||
| Net income/(expenditure) | for the reporting | period (as | per the | ||||||
| Statement of Financial Activities) | 828,793 | (197,407) | |||||||
| Adjustments for: |
|||||||||
| Depreciation charges |
73,455 | 55,571 | |||||||
| Loss on disposal offixed assets | 7,542 | ||||||||
| Interest received | (19) | (1) | |||||||
| (Increase)/decrease | in | stocks | (2,605) | 85 | |||||
| Increase in debtors |
(10,645) | (37,741) | |||||||
| (Decrease)/increase | in | creditors | (450,682) | 230,614 | |||||
| Net cash provided | by | operations | 445,839 | 51,121 | |||||
| ANALYSIS OF CHANGES | IN NET FUNDS | ||||||||
| At 1.9.21 f |
Cash flow f |
At 31.8.22 f |
|||||||
| Net cash | |||||||||
| Cash at bank and in | hand | 1,573,897 | 370,938 | 1,944,835 | |||||
| 1,573,897 | 370,938 | 1,944,835 | |||||||
| Debt | |||||||||
| Debts falling due within | 1 year | (14,036) | (4,795) | (18,831) | |||||
| Debts falling due after 1 year | (154,728) | 17,486 | (137,242) | ||||||
| (168,764) | 12,691 | (156,073) | |||||||
| Total | 1,405,133 | 383,629 | 1,788,762 |
| Freehold property | 2% on cost |
|---|---|
| Improvements to property |
10%on cost |
| Plant and machinery | 20% on cost |
| Fixtures and fittings | 20%on cost |
| Computer equipment |
33.33%on cost |
| Grants re | c | eived, included in t |
he | above, | are as foll | ows: | ||
|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||||
| F | 6 | |||||||
| Operational | grants receivable | 308,578 | 541,737 | |||||
| Job retention scheme |
352,918 | |||||||
| 308,578 | 894,655 | |||||||
| INVESTMENT INCOME | ||||||||
| 2022 | 2021 | |||||||
| F | 6 | |||||||
| Deposit account interest | 19 | 1 | ||||||
| All investment income is derived |
from assets held | in the United Kingdom. | ||||||
| INCOME | FROM CHARITABLE | ACTIVITIES | ||||||
| Activity | 2022 F |
2021 f |
||||||
| Boxoffice | sales and | |||||||
| recharges | Operation | ofthe theatre | 1,912,668 | 197,111 | ||||
| Ancillary | Trading | Ancillary | trading | 405,437 | 24,443 | |||
| Education | and Youth | |||||||
| income | Education | 3,977 | 912 | |||||
| 2,322,082 | 222,466 |
| CHARIT | ABLE ACTIVITIES COSTS | |||
|---|---|---|---|---|
| Direct | Support | |||
| Costs (see | costs (see | |||
| note 6) f |
note 7) f |
Totals F |
||
| Operation | ofthe theatre | 1,537,438 | 101,964 | 1,639,402 |
| Ancillary | trading | 103,779 | 103,779 | |
| Theatre restoration | 87,916 | 87,916 | ||
| Education | 13,909 | 13,909 | ||
| 1,743,042 | 101,964 | 1,845,006 |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| Staff costs | 919,532 | 711,622 | |||||
| Rates and water | 2,767 | 1,394 | |||||
| Insurance | 25,078 | 25,092 | |||||
| Light and heat | 52,519 | 34,175 | |||||
| Sundries | 6,375 | 2,625 | |||||
| Minor building | Projects | 59,779 | 36,581 | ||||
| Education costs | 13,909 | 2,808 | |||||
| Training costs | 2,363 | 5,268 | |||||
| Cleaning costs | 20,944 | 8,098 | |||||
| Routine repairs | 23,497 | 33,739 | |||||
| Irrecoverable VAT |
10,087 | 39,961 | |||||
| Big project costs | 4,640 | 4,123 | |||||
| Show production | costs | 211,202 | 193,702 | ||||
| Ancillary trading expenses |
103,779 | 10,619 | |||||
| Technical and | IT | 47,394 | 34,081 | ||||
| Marketing | 95,490 | 30,778 | |||||
| Bank charges | 70,234 | 36,114 | |||||
| Depreciation | 73,453 | 55,569 | |||||
| 1,743,042 | 1,266,349 | ||||||
| 7. | SUPPORT COSTS | ||||||
| Governance | |||||||
| Management | costs | Totals | |||||
| 8 | F | 9 | |||||
| Operation ofthe theatre |
52,717 | 49,247 | 101,964 | ||||
| Support costs, | included | in the above, are as follows: | |||||
| Management | |||||||
| 2022 | 2021 | ||||||
| Operation | |||||||
| ofthe | Total | ||||||
| theatre | activities | ||||||
| F | f | ||||||
| Telephone | 16,839 | 14,160 | |||||
| Postage and stationery | 3,690 | 504 | |||||
| Sundries | 17,974 | 18,122 | |||||
| Health and Safety | 6,670 | 21,612 | |||||
| Loss on sale oftangible | fixed assets | 7,544 | |||||
| 52,717 | 54,398 |
| employee remuneration and benefits of the key manageme (2021:Et21,866). |
employee remuneration and benefits of the key manageme (2021:Et21,866). |
employee remuneration and benefits of the key manageme (2021:Et21,866). |
nt personnel o |
f the charity | was F159,15 |
|---|---|---|---|---|---|
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL | ACTIVITIES | ||||
| Unrestricted | Designated | Restricted | Total | ||
| funds 6 |
Reserves | funds f |
funds | ||
| INCOME AND ENDOWNIENTS | FROM | ||||
| Donations and legacies |
568,240 | 362,028 | 930,268 | ||
| Charitable activities |
|||||
| Operation ofthe theatre |
197,111 | 197,111 | |||
| Ancillary trading |
24,443 | 24,443 | |||
| Education | 912 | 912 | |||
| Investment income |
|||||
| Total | 790,707 | 362,028 | 1,152,735 | ||
| EXPENDITURE ON | |||||
| Charitable activities |
|||||
| Operation ofthe theatre |
668,518 | 380,232 | 1,048,750 | ||
| Ancillary trading |
149,568 | 149,568 | |||
| Theatre restoration | 70,149 | 4,123 | 74,272 | ||
| Education | 77,552 | 77,552 | |||
| Total | 965,787 | 384,355 | 1,350,142 | ||
| NET INCOME/(EXPENDITURE) | (175,080) | (22,327) | (197,407) | ||
| RECONCILIATION OF FUNDS |
|||||
| Total funds brought forward |
597,545 | 42,734 | 640,279 | ||
| TOTAL FUNDS CARRIED FORWARD | 422,465 | 20,407 | 442,872 |
| INTANGIBLE FIXEDASSETS | |
|---|---|
| Website | |
| costs | |
| f | |
| COST | |
| At 1 September 2021 and | |
| 31 August 2022 | 24,230 |
| AMORTISATION | |
| At 1 September 2021 | 16,153 |
| Charge for year | 4,846 |
| At 31 August 2022 | 20,999 |
| NET BOOK VALUE | |
| At 31 August 2022 | 3,231 |
| At 31 August 2021 | 8,077 |
| TANGIBLE FIXEDASSETS | ||||
|---|---|---|---|---|
| Improvements | ||||
| Freehold | to | Plant | and | |
| property 6 |
property F |
machinery f |
||
| COST | ||||
| At 1 September 2021 | 141,783 | 72,163 | 1,892 | |
| Additions | ||||
| Disposals | ||||
| At 31August 2022 | 141,783 | 72,163 | 1,892 | |
| DEPRECIATION | ||||
| At 1 September 2021 | 25,536 | 36,036 | 567 | |
| Charge for year | 2,836 | 7,216 | 378 | |
| Eliminated on disposal |
||||
| At 31August 2022 | 28,372 | 43,252 | 945 | |
| NET BOOK VALUE | ||||
| At 31August 2022 | 113,411 | 28,911 | 947 | |
| At 31August 2021 | 116,247 | 36,127 | 1,325 |
| 13. | TANGIBLE FIXEDASS | ETS - continued | |||
|---|---|---|---|---|---|
| Fixtures | |||||
| and | Computer | ||||
| fittings | equipment | Totals | |||
| F | 6 | 6 | |||
| COST | |||||
| At 1 September 2021 | 234,487 | 52,431 | 502,756 | ||
| Additions | 72,402 | 2,518 | 74,920 | ||
| Disposals | (93,476) | (7,559) | (101,035) | ||
| At 31 August 2022 | 213,413 | 47,390 | 476,641 | ||
| DEPRECIATION | |||||
| At 1 September 2021 | 157,661 | 23,125 | 242,925 | ||
| Charge for year | 42,819 | 15,360 | 68,609 | ||
| Eliminated on disposal |
(88,422) | (5,071) | (93,493) | ||
| At 31August 2022 | 112,058 | 33,414 | 218,041 | ||
| NET BOOK VALUE | |||||
| At 31August 2022 | 101,355 | 13,976 | 258,600 | ||
| At 31August 2021 | 76,826 | 29,306 | 259,831 | ||
| 14. | STOCKS | ||||
| 2022 6 |
2021 f |
||||
| Stocks | 11,704 | 9,099 | |||
| 15. | DEBTORS:AMOUNTS | FALLING DUE WITHIN ONE YEAR | |||
| 2022 | 2021 | ||||
| 6 | 6 | ||||
| Trade debtors | 26,834 | 960 | |||
| Other debtors | 74,438 | 89,667 | |||
| 101,272 | 90,627 |
| CRED | ITORS: AMOUNTS FALLING DUE WITHIN ONE Y |
EAR | |
|---|---|---|---|
| 2022 f |
2021 F |
||
| Bank | loans and overdraRs (see note 19) | 18,831 | 14,036 |
| Trade | creditors | 90,658 | 34,344 |
| Social | security and other taxes | 14,984 | 9,551 |
| VAT | 3,834 | 9,275 | |
| Other | creditors | 782,428 | 1,276,725 |
| 910,735 | 1,343,931 |
| Deferred income represe year. |
nts | income received in advance f |
or tickets for sh |
ows in the |
next financi |
|
|---|---|---|---|---|---|---|
| 2022 f |
2021 f |
|||||
| Brought forward | 1,062,823 | 849,086 | ||||
| Amount released to incoming |
resources | (1,030,474) | (849,086) | |||
| Amount deferred in year |
618,813 | 1,062,823 | ||||
| Carried forward | 651,162 | 1,062,823 | ||||
| 'I8. | CREDITORS: AMOUNTS | FALLING DUE AFTER MORE THAN ONE YEAR | ||||
| 2022 | 2021 | |||||
| F | ||||||
| Bank loans (see note 19) | 137,242 | 154,728 | ||||
| SECURED DEBTS | ||||||
| The charitable company |
has | a bank loan with a total balance | of6110,240 as | at 31 August | 2022 (20 | |
| 6118,765)which is secured against 28Albert Road, Southsea. | ||||||
| 19. | LOANS | |||||
| An analysis ofthe maturity | ofloans is given below: | |||||
| 2022 f |
2021 F |
|||||
| Amounts falling due within |
one year on demand: | |||||
| Bankloans | 18,831 | 14,036 | ||||
| Amounts falling due between |
two and five years: | |||||
| Bank loans - 2-5 years | 75,240 | 93,512 | ||||
| Amounts falling due in more than five years: |
||||||
| Repayable by instalments: |
||||||
| Bank loans after more than 5years | 62,002 | 61,216 |
| ANALYSIS O | F NET AS | SETS B | ETWEEN FU | NDS | |||
|---|---|---|---|---|---|---|---|
| 2022 | 2021 | ||||||
| Unrestricted | Designated | Restricted | Total | Total | |||
| funds | Reserves | funds | funds | funds | |||
| 6 | 6 | 6 | F | 6 | |||
| Fixed assets | 261,831 | 261,831 | 267,908 | ||||
| Current assets | 1,859,933 | 192,988 | 4,890 | 2,057,811 | 1,673,623 | ||
| Current liabilities Long term liabilities |
(910,735) (137,242) |
(910,735) (137,242) |
(1,343,931) (154,728) |
||||
| 1,073,787 | 192,988 | 4,890 | 1,271,665 | 442,872 | |||
| MOVEMENT | IN FUNDS | ||||||
| Net | |||||||
| movement | At | ||||||
| At 1.9.21 5 |
in funds F |
31.8.22 f |
|||||
| Unrestricted | funds | ||||||
| General fund | 229,477 | 844,310 | 1,073,787 | ||||
| Designated Building Restoration |
fund | 192,988 | 192,988 | ||||
| 422,465 | 844,310 | 1,266,775 | |||||
| Restricted funds | |||||||
| Development | Project Fund | 15,868 | (15,517) | 351 | |||
| Feasibility study |
4,539 | 4,539 | |||||
| 20,407 | (15,517) | 4,890 | |||||
| TOTALFUNDS | 442,872 | 828,793 | 1,271,665 | ||||
| Net movement | in funds, | included | in the above | are as follows: | |||
| Incoming | Resources | Movement | |||||
| resources | expended | in funds | |||||
| F | 9 | F | |||||
| Unrestricted | funds | ||||||
| General fund | 2,673,799 | (1,829,489) | 844,310 | ||||
| Restricted funds | |||||||
| Development | Project Fund | (15,517) | (15,517) | ||||
| TOTALFUNDS | 2,673,799 | (1,845,006) | 828,793 |
| Net | ||||||
|---|---|---|---|---|---|---|
| movement | At | |||||
| At 1.9.20 F |
in funds F |
31.8.21 f |
||||
| Unrestricted | funds | |||||
| General fund | 597,545 | (175,080) | 422,465 | |||
| Restricted funds | ||||||
| Development | Project Fund | 25,430 | (9,562) | 15,868 | ||
| Feasibility study | 17,304 | (12,765) | 4,539 | |||
| 42,734 | (22,327) | 20,407 | ||||
| TOTAL FUNDS | 640,279 | (197,407) | 442,872 | |||
| Comparative | net movement | in funds, | included | in the above are as follows: | ||
| Incoming | Resources | Movement | ||||
| resources | expended | in funds | ||||
| F | ||||||
| Unrestricted | funds | |||||
| General fund | 790,707 | (965,787) | (175,080) | |||
| Restricted funds | ||||||
| Development | Project Fund | (9,562) | (9,562) | |||
| Feasibility study |
(12,765) | (12,765) | ||||
| Job retention | scheme | 374,793 | (374,793) | |||
| 362,028 | (384,355) | (22,327) | ||||
| TOTAL FUNDS | 1,152,735 | (1,350,142) | (197,407) |