2022-07-31-accounts - Sheffield Theatres Crucible Trust

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

					Page
Directors' Report
Statement	ofTrustees'	Responsibilities
Independent	Auditors'	Report
Accounting	Policies				11-12
Statement	of Financial	Activities (Including	Income and Expenditure	Account)	13
Balance Sheet					14
Statement	ofCash Flows				15
Notes on Accounts					16-23

Legal and administration details	Legal and administration details	Legal and administration details	Legal and administration details
Official name ofcharity:				Sheffield Theatres Crucible Trust
Chadity 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
				Dr Anni Domingo
				Mr. Richard Huntrods
				Lord Kerslake
				Mr. Robert Noble
				Ms Catherine Pakenham
Chief Executive:				Dan Bates
Bankers:				Barclays Bank
				1 St Paul's Place
				Norfolk Street
				Sheffield
				S12JW
Auditors:				Hawsons Chartered	Accountants
				Statutory Auditors
				Pegasus House
				463a Glossop Road
				Sheffield
				S102QD

SHEFFIELD THEATRES CRUCIBLE TRUST INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF SHEFFIELD THEATRES CRUCIBLE TRUST (continued) Auditor's responsSbllStles for the audlt of the financlal statements Our objectives are lo obtain reasonable assurance about whether the financial ststements as 8 whole are free from material misslatemenl. whether due lo fraud or error. and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance. bul is not a guarantee that an aLFdil conducted in accordance with ISAS IUKI will always detect a material misstatement when il exists. Misstatements can arise from fraud or error and are considered material rf. individually or in the aggregate. they could reasonably be expected lo influence the ery)nomic decisions of users taken on the basis of these finanual statements. The extent lo which our procedures are capable of detecting irregularities. including fraud is detailed below.. The charitable company is subject to laws and regulations that directly and indirectly affect the financial statements. Based on our understanding of the charity and the environment il operates within, we determined that the laws and regulations which were most signffjnt induded FRS 102. the Companies Act 2006. Health and Safely Regulations and the Charities Act 2011. We considered the extent to which non-compliance with these laws and regulations might have a material effect on the financial stalemenls. including how fraud might occur. We evaluated management's incentives and opportunities forfraudulent manipulation of the financial statements lincluding the risk of override of controls), and determined that the principal risks were related lo the posting of inappropriate journal entries lo improve the charitys result for the period. and management bias in key accounting estimates. Audit procedures perfomied by the engagement leam induded.. Discussions wth management and those responsible for legal compliance procedures within the charitable company to obtain an understanding of the legal and regulatory framework applicable lo the charity and how the charity complies with that framework. induding consideration of known or suspected instances of non- compliance with laws and re9ulations and fraud.. Reviewing minutes of Trustee meetings- Idenlrfying and assessing the design effeclNeness of controls that management has in place lo prevent and delecl fraud and non-compliance wtth laws and regulations.. Challenging assumptions and judgements made by management in their signfficant accounting estimates. Idenirfying and testing journal entries. in particular anyjoumal enlries pos wlh unusual account combinations or posted by senior management. A further description of our responsibilities is available on the Financial Reporting Council's website at www.frc.org.ukjaudilorslaudil-assurancelaudilor-s-responsibilities-for4he-audit-of-the-fdesCrlptIonOf-the-aud1Ior.s- responsibililies-for. This description forms part of our audf(orfs report.

EAR ENDED 31JULY2022
			Unrestricted	Restricted	2022	2021
		Notes	Funds	Funds	Total	Total
			g	f	F	g
Incoming Resources
Incoming resources from generated	funds:
Donations and legacies		1	2,587,549		2,587,549	1,861,967
Recharge from parent company				612,163	612,163
Management Fees Receivable			40,000		40,000	20,000
Incoming resources from charitable activities		2	1,525,467		1,525,467	321,883
Total incoming resources			4,153,016	612,163	4,765,179	2,203,850
Resources expended on:
Raising funds		6	159		159
Charitable activities		7	4,494,528	104,625	4,599,153	2,315,360
Other		8	3,400		3,400	3,000
Total resources expended			4,498,087	104,625	4,602,712	2,318,360
Net (Outgoing)/Incoming Resources before transfers			(345,071)	507,538	162,467	(114,510)
Transfer between funds			475,209	(475,209)
Net Movement in Funds			130,138	32,329	162,467	(114,510)
Fund balances brought forward
at 1 August			412,253	5,042,770	5,455,023	5,569,533
Fund Balances Carried
Forward At 31July			542,391	5,075,099	5,617,490	5,455,023

BALANCE SHEET
31JULY2022
	Notes	2022	2021
		f
FIXEDASSETS
Tangible assets		5,185,711	5,203,461
CURRENT ASSETS
Debtors	12	1,813,723	814,194
Cash at bank and in hand	13	761,562	387,258
		2,575,285	1,201,452
CREDITORS - Amounts
falling due within one year		2,143,506	949,890
NET CURRENT ASSETS		431,779	251,562
NET ASSETS		5,617,490	5,455,023
RESERVES
Restricted funds		5,075,099	5,042,770
Designated		391,334	391,334
General fund		151,057	20,919
		5,617,490	5,455,023

				2022	2021
			Notes	f	f
Cash flow from operating	activities			518,123	(539,105)
Cash flow from investing	activities
Capital expenditure				(143,819)
Net cash flow from investing		activities		(143,819)
Net increase/(decrease) equivalents	in cash and cash			374,304	(539,105)
Cash and cash equivalents	at	1 August		387,258	926,363
Cash and cash equivalents	at	31July		761,562	387,258
Cash and cash equivalents		consists of:
Cash at bank and in hand				761,562	387,258

1	INCOME FROM DONATIONS AND LEGACIES
		2022	2021
		f	f
	Unrestricted
	Arts Council England	1,303,416	1,520,224
	Sheffield City Council	291,600
	SCCCovid-19 Support	11,007	111,450
	DCMS - Culture Recovery Fund	700,000	229,776
	Trusts and Foundations	3,000
	Donations and gifts	1,580	217
	Sponsorship	240	300
	Gift Aid	276,706
	Total unrestricted	2,587,549	1,861,967
2	INCOME FROM CHARITABLE ACTIVITES
		2022	2021
		f	f
	Unrestricted
	Ticket and related sales	1,498,725	288,952
	Other	26,742	32,931
		1,525,467	321,883
3	STAFF PARTICULARS
		2022	2021
		f	f
	Staff costs comprised:
	Wages and salaries	1,374,997	855,573
	Social security costs	127,797	119,142
	Pension costs	102,473	123,891
		1,605,267	1,098,606

E	AR ENDED 31JULY2022	AR ENDED 31JULY2022	AR ENDED 31JULY2022
4	NET OUTGOING RESOURCES
					2022	2021
	This is stated after charging
	Auditors' remuneration
	as auditors				3,400	3,000
	Depreciation				161,569	165,338
	Operating lease rentals:
	Other				48,647	46,100
5	RECONCILIATION	OF	NET INCOME	TO NET CASH FLOW FROM OPERATING ACTIVITIES
					2022	2021
	Net incoming/(outgoing)		resources		162,467	(114,510)
	Depreciation				161,569	165,338
	(Increase)/decrease	in debtors			(999,529)	107,263
	Increase/(decrease)	in creditors			1,193,616	(697,196)
	Net cash inflow/(outflow)		from operating	activities	518,123	(539,105)
6	RESOURCES EXPENDED ON RAISING FUNDS
					2022	2021
						8
	Fundraising				159

E	AR ENDED 31JULY 2022	AR ENDED 31JULY 2022	AR ENDED 31JULY 2022	AR ENDED 31JULY 2022
7	COST OF CHARITABLE ACTIVITIES
	Production Costs				2022	2021
						6
	Staffing costs				7,504
	Scenery, costumes, materials				189,377	29,731
	Production services				1,207,079	333,323
	Royalties and commissioning		fees		96,525	2,089
	Additional directors',	designers'		and
	other guests' fees				68,331	31,061
	Indirect production consumables				41,684	27,297
	Miscellaneous				45,376	22,472
	Education project staffing costs				129,808	55,231
	Education project costs				306,853	23,326
	Visiting companies fees and		other cost		117,881	3,090
	Re-charge to co-producers		and	visiting companies	(9,238)	(191)
	Hire cost					(148)
	Programme costs				6,384	2,452
	Licence and subscriptions				707	666
					2,208,271	530,399
	Staff Costs
	Staffing costs				1,368,869	965,554
	Training, recruitment	and other		costs	(1,374)	43,126
					1,367,495	1,008,680
	Establishment Costs
	Rent, rates and insurance				148,755	106,811
	Heat and power				25,075	26,209
	Electricity				233,800	53,456
	Repairs and renewals				85,856	79,015
	Waste disposal				12,266	4,056
	Depreciation				104,625	104,624
					610,377	374,171
	Selling Costs
	Publicity and advertising				126,688	122,754
	Boxoffice computer	systems			17,390	20,538
	Ticket printing				1,977	256
	Miscellaneous selling	costs			897	280
	Credit card commission				26,712	19,038
	Telephone, postage,	stationery		and
	photocopying				12,158	8,261
	Travel and entertaining				89	26
					185,911	171,153

	Support Costs							2022		2021
								6		E
	Staffing costs							99,086		77,819
	Training, recruitment	and		other	costs			13,484		10,402
	Depreciation							31,212		60,714
	Telephone, postage,	stationery			and
	photocopying							3,223		1,225
	ITmaintenance and	peripherals						29,475		34,798
	Travel and entertaining							4,019		626
	Professional charges							9,126		12,132
	Bank charges							4,444		1,235
	Licence and subscriptions							12,492		19,901
	Miscellaneous							20,538		12,105
								227,099		230,957
	Total costs of charitable			activities				4,599,153	2,315,360
8	OTHER COSTS
	Auditors remuneration:							3,400		3,000
9	RESERVES
						At 1 August	Incoming	Outgoing		At 31 July
						2020	Resources	Resources	Transfers	2021
								6	8	8
	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 —Major	repairs				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

RESERYES
		At 1 August	Incoming	Outgoing		At 31 July
		2021	Resources	Resources	Transfers	2022
		F	f	f	f.
RESTRICTED
Accumulated Building Fund		617,625		12,434		605,191
Garfield Weston Culture	Fund		612,163		(475,209)	136,954
Capital Redevelopment	Fund	4,425,145		92,191		4,332,954
Total Restricted Funds		5,042,770	612,163	104,625	(475,209)	5,075,099
UNRESTRICTED
General		20,919	4,153,016	4,498,087	475,209	151,057
Designated —Major repairs		165,000				165,000
Designated —artistic research and development		226,334				226,334
Total Unrestricted Funds		412,253	4,153,016	4,498,087	475,209	542,391
Total Funds		5,455,023	4,765,179	4,602,712		5,617,490

ANAL	YSIS OF NET ASSETSBETW	EEN FUNDS
		Unrestricted	Restricted
		funds	funds	Total
		2021	2021	2021
			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
		Unrestricted	Restdicted
		funds	funds	Total
		2022	2022	2022
		f	f	f
Tangible	fixed assets	110,612	5,075,099	5,185,711
Current	assets	2,575,285		2,575,285
Current	liabilities	(2,143,506)		(2,143,506)
		542,391	5,075,099	5,617,490

11 FIXEDASSETS - TANGIBLE
		Land and
		Buildings	Fixtures	Plant
		Long	and	and
Cost		Leasehold F	Fittings F	Equipmentf	Total
At 1 August 2021		6,614,530	1,454,852	5,410,068	13,479,450
Additions			99,543	44,276	143,819
At 31 July 2022		6,614,530	1,554,395	5,454,344	13,623,269
Depreciation
At 1 August 2021		1,571,760	1,365,951	5,338,278	8,275,989
Charge for the year		104,625	33,014	23,930	161,569
At 31 July 2022		1,676,385	1,398,965	5,362,208	8,437,558
Net book amounts
At 31 July 2022		4,938,145	155,430	92,136	5,185,711
At 1 August 2021		5,042,770	88,901	71,790	5,203,461
12 DEBTORS
				2022	2021
Due within one year:					F
Trade debtors				36,839	408
Other debtors				285,218	213,950
Prepayments and accrued income				662,928	179,369
Amount due from fellow subsidiary	companies			828,738	420,467
				1,813,723	814,194
13 CASH AT BANK AND IN HAND
				2022	2021
				f	f
Cash in hand				7,869	5,760
Cash at bank				753,693	381,498
				761,562	387,258

14	CREDITORS
								2022	2021
Amounts falling		due within one		year:					6
Trade creditors								153,309	56,600
Accruals and deferred			income					803,961	411,061
Amounts owed		to fellow subsidiary			company			530,557	419,907
Amounts owed		to parent company						655,679	62,322
								2,143,506	949,890
15	ANALYSIS OF CHANGES			IN NET		FUNDS
							At		At
							1 August	Cash	31 July
							2021	Flows	2022
							E	6	6
	Cash balances						387,258	374,304	761,562
17	FINANCIAL	COMMITMENTS
								2022	2021
									6
	Total future minimum		lease payments			under non-cancellable
	operating leases are		as follows:
	Due in under	1 year						36,666	29,333
	Due in 2to 5	years						102,667	64,000
	Due in over 5years							719,342	735,342