2023-03-31-accounts

				Page
Members ofthe Board	and Professional	Advisers
Trustees' Annual Report				2 —9
Independent Auditor's	Report to the Members			10-13
Statement ofFinancial	Activities (incorporating		the
Income and Expenditure Account)				14
Consolidated Balance	Sheet			15
Balance Sheet				16
Notes to the Financial	Statements			17-26

Registered	office:	209Marine Road West	209Marine Road West
		Morecambe
		Lancashire
		LA4 4BU
Trustees:		Mr Paul Anderton
		Mr Richard Ryan
		Mr Steve Matthews
		Mr MJ Shenton (resigned			16May 2023)
		Professor V Toulmin
		Mr C.S Oktem (appointed			31May 2022)
		Mr MJBateson (appointed			16May 2023)
Auditor:		John Potter &Harrison
		Chartered Accountants		and	Statutory Auditor
		112/114 Whitegate	Drive
		Blackpool
		Lancashire
		FY3 9XH
Bankers:		Santander
		28 Penny Street
		Lancaster
		Lancashire
		LA1 1UA

					Total	Total
			Unrestricted	Restricted	Funds	Funds
			fund	fund	2023	2022
		Note
Income:
Donations and legacies			16,115		16,115	7,025
Income from charitable	activities:
Operation ofatheatre			85,432	86,748	172,180	386,654
Income from other trading		activities:
Commercial trading operation			53,309		53,309	35,753
Total incoming resources			154,856	86,748	241,604	429,432
Expenditure:
Costs ofraising funds:
Commercial trading operation			(15,016)		(15,016)	(3,151)
Expenditure on charitable		activities:
Operation ofatheatre			(77,220)	(111,745)	(188,965)	(71,645)
Total resources expended			(92,236)	(111,745)	(203,981)	(74,796)
Net ingoing/(outgoing)	resources before transfers		62,620	(24,997)	37,623	354,636
Transfer between funds
Net income/(expended)	resources for the period		62,620	(24,997)	37,623	354,636
Total funds brought forward			388,016	759,355	1,147,371	792,735
Total funds carried forward			450,636	734,358	1,184,994	1,147,371

					2023	2022
			Note
Fixed assets
Heritage asset			10		1,172,873	1,126,126
Tangible assets			11		5,969	7,959
					1,178,842	1,134,085
Current assets
Debtors			13	58,669		51,534
Cash at bank				71,703		91,765
				130,372		143,299
Creditors: Amounts		falling due within one year	14	(22,060)		(19,846)
Net current	assets				108,312	123,453
Total assets	less current liabilities				1,287,154	1,257,538
Creditors: Amounts		falling due after one year	15		(102,160)	(110,167)
Net assets					1,184,994	1,147,371
Funds
Morecambe	Winter	Gardens Limited			1	1
Restricted income funds			16		734,358	759,355
Unrestricted	income	funds	17		450,635	388,015
Total funds			18		1,184,994	1,147,371

		CHARITY BALANCE AS AT 30MARCH	SHEET 2023
				2023	2022
		Note
Fixed assets
Heritage asset		10		1,172,873	1,126,126
Tangible assets		11		5,969	7,959
Investments		12		100	100
				1,178,942	1,134,185
Current assets
Debtors			63,568		55,454
Cash at bank			66,703		87,744
			130,271		143,198
Creditors: Amounts		falling due within one year	(22,060)		(19,846)
Net current	assets			108,211	123,352
Total assets	less current liabilities			1,287,153	1,257,537
Creditors: Amounts		falling due after one year		(102,160)	(110,167)
Net assets				1,184,993	1,147,370
Funds
Restricted income funds				734,358	759,355
Unrestricted	income	funds		450,635	388,015
Total funds				1,184,993	1,147,370

Donations and legacies
			Total	Total
	Unrestricted	Restricted	Funds	Funds
	Funds	Funds	2023	2022
Donations:
Crowd funding				20
Other donations	16,115		16,115	7,005
	16,115		16,115	7,025

A summ	ary ofits	trading results is shown	below:-
				2023	2022
Fund raising				53,309	35,753
Retained	by subsidiary				(1)
				53,309	35,752
Cost of	sales			14,699	(2,834)
Bank charges				317	(317)
				15,016	(3,151)
				38,293	32,601
Amount	gifted to	company		38,293	(31,277)
					1,324
The assets and liabilities ofthe subsidiary			company were:-
Current	assets			5,000	4,021
Creditors: amounts		falling due within one	year	(4,899)	(3,920)
				101	101
Aggregate share capital and reserves				101	101

Operation ofatheatre
					Total	Total
			Unrestricted	Restricted	Funds	Funds
			Funds	Funds	2023	2022
Grants:
National Heritage						18,380
Historic England				39,248	39,248	205,295
Architectural Heritage				47,500	47,500	37,200
Lancashire County Council						10,000
University ofSheffield			7,700		7,700	10,000
Business Interruption	grant					10,667
Coastal Communities	Fund					56,067
Morecambe Town Council			650		650	9,997
Morecambe EBids						1,900
Rents receivable			13,067		13,067	11,200
Hire oftheatre			63,015		63,015	15,948
Education a Skill			1,000		1,000
			85,432	86,748	172,180	386,654
Analysis ofexpenditure	on charitable	activities
					Total	Total
			Unrestricted	Restricted	Funds	Funds
			Funds	Funds	2023	2022
Repairs and maintenance			25,699		25,699	10,478
Premises costs			33,360		33,360	30,960
Office costs			2,295		2,295	2,617
Accountancy fees			1,400		1,400	1,400
Audit fees			600		600	600
Sundry expenses			3,073		3,073	2,749
Bank charges			1,027		1,027	2,159
Loan interest			2,916		2,916	3,800
Depreciation			1,990		1,990	2,652
Professional fees			4,860	111,745	116,605	14,230
			77,220	111,745	188,965	71,645

This is stated aAer charging:	This is stated aAer charging:	2023	2022
Depreciation		1,990	2,652
Bank loan interest		2,916	3,800
Auditors' remuneration:
- accountancy		1,400	1,400
-audit ofthe financial	statements	600	600

Heritage asset
				Freehold	Acquisition
				Property	Costs	Total
Cost
At 31March 2022				1,122,948	3,178	1,126,126
Additions				46,747		46,747
Disposals
At30March 2023				1,169,695	3,178	1,172,873
Depreciation
At 31March 2022
Charge for the period
At 30March 2023
Net book value
At 30March 2023				1,169,695	3,178	1,172,873
Net book value ofrestricted	assets			734,358		734,358
At 30March 2022				1,122,948	3,178	1,126,126
Summary analysis ofHeritage asset		transaction
		2023	2022	2021	2020	2019
Purchases		46,747	472,760	301,499

Tangible fixed assets
		Fixtures
		Fittings 4
		Equipment	Total
Cost
At 31March 2022		20,876	20,876
Additions
Disposals
At 30March 2023		20,876	20,876
Depreciation
At 31March 2022		12,917	12,917
Charge for the period		1,990	1,990
At 30March 2023		14,907	14,907
Net book value
At 30March 2023		5,969	5,969
At 30March 2022		7,959	7,959
Investments
		2023	2022
Shares held in Morecambe	Winter Gardens Limited	100	100

		2023	2022
Other	debtors	58,669	51,534
		58,669	51,534

Creditors: Amounts falling due within one year
	2023	2022
Loan: Lancaster City Council	2,960	2,940
Santander	4,600	4,600
Deferred income	10,000
Accruals	4,500	12,306
	22,060	19,846

				2023	2022
Unsecured bank loan (falling due in less than 5 years)				9,540	14,567
Secured bank loan (falling due in less than 5 years)				11,840	11,760
Secured bank loan (falling due after 5 years)				80,780	83,840
				102,160	110,167
Restricted income funds
		Balance at	Incoming	Outgoing	Balance at
		31.03.22	resources	expended	30.03.23
Theatres Trust		200			200
Historic England		585,899	39,248	(39,248)	585,899
Architectural Heritage		25,000	47,500	(47,500)	25,000
Lancashire County Council		10,000		(10,000)
University ofSheffield		10,000		(10,000)
Coastal Communities	Fund	96,220			96,220
Morecambe Town Council		4,997		(4,997)
Crowd Funding		27,039			27,039
		759,355	86,748	111,745	734,358

Unrestricted income funds
	Balance at	Incoming	Outgoing		Balance at
	31.03.22	resources	expended	Transfers	30.03.23
Fixed asset fund	304,376			44,528	348,904
General funds	83,639	101,547	(83,455)	—	101,731
	388,015	101,547	(83,455)	44,528	450,635

The fixed asset fund represents	The fixed asset fund represents	the net book	value	oftangible	fixed assets not held in restricted	fixed assets not held in restricted	funds less any	funds less any
loans secured on the assets. Each year an amount				is transferred	to or from the fund	to reflect the	movements	of
the tangible fixed assets not held		in restricted	funds	at the year	end.
Analysis ofnet assets	between	funds
						Net
					Tangible	Current
					fixed	assets/
					assets	(liabilities)	Total
Restricted income funds:
Theatres Trust					200		200
Historic England					585,899		585,899
Lancashire County Council
University ofSheffield
Coastal Communities	fund				96,220		96,220
Morecambe Town Council
Crowd Funding					27,039		27,039
Architectural Heritage					25,000		25,000
					734,358		734,358
Unrestricted income funds:
Morecambe Winter Gardens Limited						1	1
Designated funds					348,904		348,904
General funds						101,731	101,731
					348,904	101,732	450,636
Total funds					1,083,262	101,732	1,184,994