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2021-07-31-accounts

Page
Directors' Report
Statement ofTrustees' Responsibilities
Independent Auditors' Report
Accounting Policies 10-11
Statement of Financial Activities (Including Income and Expenditure Account) 12
Balance Sheet 13
Cash Flow Statement 14
Notes on Accounts 15-22

Legal and administration
details		 Legal and administration
details		 Legal and administration
details		 Legal and administration
details
Official name ofcharity: Sheffield Theatres Crucible Trust
Charity registration number: 1120640
Company registration number: 6035820
Registered Office: 55 Norfolk Street
Sheffield
S1 1DA
Directors and Trustees: Mr. Neil Adleman
Ms Kate Booth
Mr. Matthew
Byam		 Shaw
Mr. Richard
Huntrods
Mr. Robert Noble
Lord Kerslake
Ms Catherine
Pakenham
Chief Executive: Dan Bates
Bankers: Barclays Bank
1 St Paul's Place
Norfolk Street
Sheffield
61 2JW
Auditors: Hawsons
Chartered		 Accountants
Statutory
Auditors
Pegasus
House
463a Glossop Road
Sheffield
S102QD

SHEFFIELD THEATRES CRUCIBLE TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF SHEFFIELD THEATRES CRUCIBLE TRUST Iconlinuedl The extent to which our pro¢edures are capable of delecting Irregularit￿S. indLKlirKJ fraud is detailed below.. The charitable company is subject to laws and rewlations that ￿￿eC￿Y and indirectly affect the fv'nanLxal slatemenls. Based on our understanding of the charity and the envinimenl it operates within. we determined that the18ws and regulatian5 which were most signrfunt included FRS 102 and the Companies Acl 2006. We considered Ihe extent lo which non-compliance with these laws and rewlations muhl have a material effect on the financial slatemenls, including how fraud might oe¢ur. We evaluated management's ircenlives and opportunities for fraudulent vnanipulalion of the financial sialemenls {in¢luding the risk ol overrlde of Controls), and dotemiined that the pfir￿1pal risks were rdaled lo the posts.ng of inappropriate journal entries to improve the charity's result for Ihe period, and anagefflenl bias in key acc(¥Jnling eslimales. Audit procedures performed by the en9agement team induded: Oiscussions with wnanwJemenl and Ihose responsible for legal complia￿e pro¢edures wilhin the charilab5e company lo obtain an understanding of the legal and rewlalory fraMew(￿k applicable lo the clwily and how the charity com￿leS Wlth thal framework. induding consideralKffi of known rff suspected instances of ￿n- compliance with laws and regulatKJns and fraud" Reviewing minvles of Trustee meetings., Idenlrfying and a$sessing the desw effectNeness of controls that management has in plaLE ID prevent and delecl fraud and non-compliance with laws and regulations.. Challenging assumptions and judgements made by fflanagemenl in Iheir significant accounting eslimales. Identifying and lesling journal entries. in paitulaf any journal entries posted with unusual account combinations or posted by 5enK)r management. A further éescription of our restx)nsibilities is available on Ihe Fina￿la1 Reporting Council's website at vw.frc.cKg.uklauditorslaudil-assUrancelauditor-s-reskM)nsibilities-f￿-l￿vd1[•0f-1he-f￿ld￿$CrlPtIon-0f-lhe.audI1or,$- ress)onsibililies-for. This ijescriplion forms part of our audilor's rewrt. U8ec4wr This report is made solely lo the charitable compan￿5 Mefflbe￿. as a body, in accordan￿ with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so Ihal we might stale to the charitable company s members those matter5 we are required lo stale to them in an auditor's report and for no other purpose_ To the fullesl extent pemiilted by law, we Llo not accept or assurne reswnsibility to anyone other than the charilable company and the charitable company's members as a body. for our wdii work. for this report. or for the pinions we have formed. Simon Bladen. SenM)r Stslulory Avdilr For and on behalf Hawsons Chartered Accountants, Statulory Auditor Pegasus House 463a Glossop Road Sheffield S10 2QD

EAR ENDED 31 JUL Y 2021
Unrestricted Restricted 2021 2020
Notes Funds Funds Total Total
6 6 6 f
Incoming Resources
Incoming resources
from
generated
funds:
Donations
and legacies		 1 1,861,967 1,861,967 1,830,605
Management
Fees Receivable		 20,000 20,000 20,000
Incoming resources
from
charitable
activities		 2 321.883 321,883 2,396,740
Total incoming
resources		 2,203,850 2,203,850 4,247,345
Resources expended on:
Raising funds 6 1,700
Charitable
activities		 7 2,210,736 104,624 2,315,360 4,457,166
Other 8 3,000 3,000 3,595
Total resources expended 2,213,736 104,624 2,318,360 4,462,461
Net (Outgoing) Resources (9,886) (104,624) (114,510) (215,116)
Fund balances
brought		 forward
at 1 August 422,139 5,147,394 5,569,533 5,784,649
Fund Balances Carried
Forward
At 31 July		 412,253 5,042,770 5,455,023 5,569,533

BALANCE SHE ET
31 JULY 2021
Notes 2021 2020
f 6
FIXEDASSETS
Tangible assets 5,203,461 5,368,799
CURRENT ASSETS
Debtors 12 814,194 921,457
Cash at bank and in hand 13 387,258 926.363
1,201,452 1,847,820
CREDITORS - Amounts
falling due within one year 14 949,890 1,647,086
NET CURRENT ASSETS 251,562 200,734
NET ASSETS 5,455,023 5,569,533
RESERVES
Restricted funds 5,042,770 5,147,394
Designated 391,334 341,334
General fund 20,919 80,805
5,455,023 5,569,533

Notes
2021 2020
f 6
Cash flow from operating activities (539,105) (353,733)
Cash flow from investing activities
Capital expenditure (4,318)
Net cash flow from investing activities (4,318)
Net decrease
in cash and		 cash equivalents (539,105) (358,051)
Cash and cash equivalents at 1 August 926,363 1,284,414
Cash and cash equivalents at 31 July 387,258 926,363
Cash and cash equivalents consists of:
Cash at bank and
in hand		 387,258 926,363

E AR ENDED 31 JULY 2021 AR ENDED 31 JULY 2021
1 INCOME FROM DONATIONS AND LEGACIES
2021 2020
f f
Unrestricted
Arts Council England 1,520,224 1,829,739
Sheffield
City Council —Covid-19 Support		 111,450
DCMS - Culture Recovery Fund 229,776
Donations
and		 gifts 217 596
Sponsorship 300 270
Total unrestricted 1,861,967 1,830,605
Restricted
Total restricted income
1,861,967 1,830,605
2 INCOME FROM CHARITABLE ACTIVITES
2021 2020
f f
Unrestricted
Ticket and related sales 288,952 2,319,375
Other 32,931 77,365
321,883 2,396,740
3 STAFF PARTICULARS
2021 2020
F f.
Staff costs comprised:
Wages and salaries 855,573 1,142,846
Social security costs 119,142 90,438
Other pension costs 123,891 93,054
1,098,606 1,326,338

NOTES ON ACCOUNTS (continu NOTES ON ACCOUNTS (continu ed)
YEAR ENDED 31 JULY 2021
4 NET OUTGOING
RESOURCES
2021 2020
F 8
This is stated after charging
Auditors'
remuneration
as auditors 3,000 3,595
Depreciation
and amortisation		 165,338 165,708
Operating
lease rentals:
Other 46,100 27,420
5 RECONCILIATION
OF NET INCOME TO NET CASH FLOW		 FROM OPERATING ACTIVITIES
2021 2020
f
Net outgoing
resources		 (114,510) (215,116)
Depreciation
and amortisation		 165,338 165,708
Decrease/(increase)
in debtors		 107,263 (350,697)
(Decrease)/increase
in creditors		 (697,196) 46,372
Net cash (outflow) from operating activities (539,105) (353,733)
6 RESOURCES EXPENDED ON RAISING FUNDS
2021 2020
6
Fundraising 1,700

E AR ENDED 31 JULY 2021 AR ENDED 31 JULY 2021 AR ENDED 31 JULY 2021 AR ENDED 31 JULY 2021 AR ENDED 31 JULY 2021
7 COST OF CHARITABLE ACTIVITIES
Production
Costs		 2021 2020
F
Scenery, costumes, materials 29,731 115,580
Production
services		 333,323 1,878,014
Royalties and commissioning fees 2,089 134,484
Additional
directors',		 designers' and
other guests' fees 31,061 12,267
Indirect production consumables 27,297 40,830
Miscellaneous 22,472 50,158
Education
project costs		 78,557 132,921
Visiting companies fees and other cost 3,090 155,996
Re-charge to co-producers and visiting companies (191) (17,957)
Hire cost (148)
Programme
costs		 2,452 13,782
Licence and subscriptions 666 908
530,399 2,516,983
Staff Costs
Staffing costs 965,554 991,848
Training,
recruitment		 and other costs 43,126 4,633
1,008,680 996,481
Establishment
Costs
Rent, rates and insurance 106,811 106,411
Heat and power 26,209 25,093
Electricity 53,456 91,501
Repairs and renewals 79,015 101,837
Waste disposal 4,056 10,389
Depreciation 104,624 104,624
374,171 439,855
Selling Costs
Publicity and advertising 122,754 202,797
Boxoffice computer systems 20,538 18,208
Ticket printing 256 1,132
Miscellaneous
selling		 costs 280 1,847
Credit card commission 19,038 18,579
Telephone,
postage,		 stationery and
photocopying 8,261 22,262
Travel and entertaining 26 1,194
171,153 266,019

Support Costs
Staffing costs 77,819 97,751
Training,
recruitment		 and other costs 10,402 8,875
Depreciation 60.714 61,084
Telephone,
postage,		 stationery and
photocopying 1,225 5,737
IT maintenance
and		 peripherals 34,798 16,229
Travel and entertaining 626 7,181
Professional
charges		 12.132 19,470
Bank charges 1,235 4,677
Licence and subscriptions 19,901 8,993
Miscellaneous 12,105 7,831
230,957 237,828
Total costs of charitable activities 2,315,360 4,457,166
8 OTHER COSTS
Auditors
remuneration:		 3,000 3,595
9 RESERVES
At 1
August		 Incoming Outgoing At 31 July
2019 Resources Resources Transfers 2020
E 6 8
RESTRICTED
Accumulated
Building		 Fund 642,493 12,434 630,059
Capital Redevelopment Fund 4,609,525 92,190 4,517,335
Total Restricted Funds 5,252,018 104,624 5,147,394
UNRESTRICTED
General 191,297 4,247,345 4,357,837 80,805
Designated
—renewals
repairs		 and 140,000 140,000
Designated
—artistic
and development		 research 201,334 201,334
Total Unrestricted Funds 532,631 4,247,345 4,357,837 422,139
Total Funds 5,784,649 4,247,345 4,462,461 5,569,533

9
RESERVES
At 1 August Incoming Outgoing At 31 July
2020 Resources Resources Transfers 2021
f f f
RESTRICTED
Accumulated
Building		 Fund 630,059 12,434 617,625
Capital Redevelopment Fund 4,517,335 92,190 4,425,145
Total Restricted Funds 5,147,394 104,624 5,042,770
UNRESTRICTED
General 80,805 2,203,850 2,213,736 (50,000) 20,919
Designated
—renewals
repairs		 and 140,000 25,000 165,000
Designated
—artistic
and development		 research 201,334 25,000 226,334
Total Unrestricted Funds 422,139 2,203,850 2,213,736 412,253
Total Funds 5,569,533 2,203,850 2,318,360 5,455,023
he accumulated building fund is amounts received to finance improvements
to leasehold		 premises and purchase
urniture
and equipment.
he capital redevelopment fund is for the redevelopment work on The Crucible Theatre.
10
ANALYSIS		 OF NET ASSETS BETWEEN FUNDS
Unrestricted Restricted
funds funds Total
2020 2020 2020
f f
Tangible fixed assets 221,405 5,147,394 5,368,799
Current assets 1,847,820 1,847,820
Current
liabilities		 (1,647,086) (1,647,086)
422,139 5,147,394 5,569,533
Unrestricted Restricted
funds funds Total
2021 2021 2021
f f f
Tangible fixed assets 160,691 5,042,770 5,203,461
Current assets 1,201,452 1,201,452
Current
liabilities		 (949,890) (949,890)
412,253 5,042,770 5,455,023

11
FIXEDASSETS - TANGIBLE
Land and
Buildings Fixtures Plant
Long and and
Leasehold Fittings Equipment Total
Cost f F f f
At 1 August 2020 6,614,530 1.462,845 5,402,075 13,479,450
Transfer (7.993) 7,993
At 31 July 2021 6,614,530 1,454,852 5.410,068 13,479,450
Depreciation
At 1 August 2020 1,467,136 1,330,766 5,312,749 8,110,651
Charge for the year 104,624 35,185 25,529 165,338
At 31 July 2021 1,571,760 1,365,951 5,338,278 8,275,989
Net book amounts
At 31 July 2021 5,042,770 88,901 71,790 5,203,461
At 1 August 2020 5,147,394 132,079 89,326 5,368,799
12
DEBTORS
2021 2020
Due within one year. f f
Trade debtors 408 34,798
Other debtors 213,950 132,319
Prepayments
and accrued income		 179,369 32,662
Amount
due from fellow subsidiary		 company 420,467 721,678
814,194 921,457
13
CASH AT BANK AND IN HAND
2021 2020
f f
Cash
in hand		 5,760 9,160
Cash atbank 381,498 917,203
387,258 926,363

14 CREDITORS CREDITORS
2021 2020
Amounts falling due within one year: 6
Trade creditors 56,600 25,866
Accruals and deferred income 411,061 470,889
Amounts owed to fellow subsidiary company 419,907 972,077
Amounts owed to parent company 62,322 178,254
949,890 1,647,086
15 ANALYSIS OF CHANGES IN NET FUNDS
At At
1 Aug Cash 31 Jul
2020 Flows 2021
F. 8 8
Cash balances 926,363 (539,105) 387,258
16 FINANCIAL
COMMITMENTS
2021 2020
6 6
Total future
minimum		 lease
payments under non-cancellable
operating leases are as follows:
Due in under
1 year		 29,333 34,333
Due in 2 to 5years 64,000 77,333
Oue in over 5 years 735,342 751,342

EAR ENDED 31JULY 2021
2021 2020
INCOMING RESOURCES f f
Voluntary
Income
Revenue
grants - general
Art Council England 1,520,224 1,829,739
Sheffield
City Council		 111,450
DCMS- Culture
Recovery		 fund 229,776
Individual
gifts		 517 866
1,861,967 1,830,605
Activities for generating funds
Management
Fees		 20,000 20,000
20,000 20,000
Investment
income
Bank interest
Incoming resources from charitable activities
Boxoffice —own productions 238,833 2,033,363
Boxoffice and tour income —education 12,324 28,285
Boxoffice —visiting companies 2,262 218,738
253,419 2,280,386
Post Sheffield Tour Income 6,141 8,000
Hire of premises 29,537 11,928
Programme
income		 (145) 19,061
Miscellaneous
income		 32,931 77,365
68,464 116,354
Total incoming
resources		 from charitable activities 321,883 2,396,740
TOTAL INCOMING RESOURCES 2,203,850 4,247,345

2021 2020
Direct Direct
Charitable Charitable
RESOURCES EXPENDED Expenditure Expenditure
6 6
Costs ofgenerating
voluntary		 income
Fundraising
charges		 1,700
Charitable
activities
Sheffield Production
Costs
Scenery, costumes, materials 29,731 115,580
Production
services		 333,323 1,878,014
Royalties and commissioning fees 2,089 134,484
Additional
directors'		 designers'
and other guests' fees 31,061 12,267
Indirect production consumables 27,297 40,830
Miscellaneous 22,472 50,158
445,973 2,231,333
Education project costs 78,557 132,921
524,530 2,364,254
Visiting Companies
Costs
Visiting Companies fees 2,493 154,998
Other costs 597 998
Re-charge to co-producers and
visiting companies (191) (17,957)
Hire costs (148)
Programme
costs		 2,452 13,782
I icence and subscriptions 666 908
5,869 152,729
Total Production
Costs		 530,399 2,516,983
Carried forward 530,399 2,518,683

EAR ENDED 31 J ULY 2021
2021 2020
Direct Direct
Charitable Other Charitable Other
Expenditure Expenditure Expenditure Expenditure
8 F f F
Brought forward 530,399 2,518,683
Staff Costs
Staffing costs 965,554 77,819 991,848 97,751
Staff training 1,750 6,717 1,250 2,734
Other staff costs 41,376 941 3,383 5,653
Staff recruitment 2,744 488
1,008,680 88,221 996,481 106,626
Establishment Costs
Rent, rates and insurance 106,811 106,411
Heat and Power 26,209 25,093
Electricity 53,456 91,501
Repairs and renewals 79,015 101,837
Waste disposal 4,056 10,389
Depreciation 60,714 61,084
269,547 60,714 335,231 61,084
Selling Costs
Publicity and advertising 122,754 202,797
Box office computer systems 20,538 18,208
Ticket printing 256 1,132
Miscellaneous selling costs 280 1,847
Credit card commission 19,038 18,579
Telephone,
postage,		 stationery and
photocopying 8,261 22,262
Travel and entertaining 26 1,194
171,153 266,019
Carried forward 1,979,779 148,935 4,116,414 167,710

EAR ENDED 31 JULY 2021
2021 2020
Direct Direct
Charitable Other Charitable Other
Expenditure Expenditure Expenditure Expenditure
F f f f
Brought forward 1,979,779 148,935 4,116,414 167,710
Administration
Costs
Station erylphotocopying
Postage 1,225 5,737
IT maintenance
&		 peripherals 34,798 16,229
Travel and entertaining 626 7,181
Professional
charges		 12,132 19,470
Bank charges 1,235 4,677
Licence and subscriptions 19.901 8,993
Miscellaneous 12,105 7,831
82,022 70,118
Governance
Costs
Audit fee 3,000 3,595
1,979,779 233,957 4,116,414 241,423
TOTAL RESOURCES EXPENDED
2021 2020
f f
Total incoming
resources		 2,203,850 4,247,345
Resources expended
Direct charitable expenditure 1,979,779 4,116,414
Other expenditure 233,957 241,423
NET MOVEMENT
TRANSFERS		 IN UNRESTRICTED FUNDS BEFORE (9,886) (110,492)

2021 2020
6
RESTRICTED FUNDS RECEIVED
TOTAL
RESTRICTED FUNDS EXPENDED
Accumulated Building Fund (12,434) (12,434)
Capital Redevelopment (92,190) (92,190)
TOTAL 104,624 104,624
MOVEMENT ON RESTRICTED FUNDS BEFORE (104,624) (104,624)
TRANSFERS
TOTAL MOVEMENT ON FUNDS (114,510) (215,116)