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