OpenCharities

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

2021-07-31-accounts

Company registration number: 6308382 Charity registration number: 1121284

CITY OF SHEFFIELD THEATRE TRUST (A company limited by guarantee)

ANNUAL REPORT

YEAR ENDED 31 JULY 2021

CITY OF SHEFFIELD THEATRE TRUST

ANNUAL REPORT

YEAR ENDED 31 JULY 2021

CONTENTS

Page
Directors’ Report and Strategic Report 1
Statement ofTrustees’ Responsibilities 6
Independent Auditors' Report 7
Accounting Policies 10
Statement of Financial Activities {including Income and Expenditure Account) 12
Balance Sheet 13
Cash Flow Statement 14
NotestotheFinancialStatements 15=21

CITY OF SHEFFIELD THEATRE TRUST

DIRECTORS’ REPORT FOR THE YEAR ENDING 31 JULY 2021

The Trustees and Directors of the charitable company present their report along with the financial statements of the charity for the period ending 31 July 2021. The financial statements have been prepared in accordance with the accounting policies set out on page 10 of the financial statements and comply with the charity’s Memorandum and Articles and applicable law. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.

Legal and administration details

Official name of charity: City of Sheffield Theatre Trust Charity registration number: 1121284

Company registration number:

6308382

Registered Office:

55 Norfolk Street Sheffield $11DA

Directors and Trustees:

Mrs Surriya Falconer Mr James Garnett Ms Eleanor Lang Mr Nei? MacDonald Ms Kirsten Major Ms Rosie Neave Mr Arun Singh

Chief Executive:

Bankers:

Auditors:

Dan Bates Barclays Bank 1 St Paul's Place Norfolk Street Sheffield S1 2UW Hawsons Chartered Accountants Statutory Auditor Pegasus House 463a Glossop Road Sheffield $10 2QD

1

CITY OF SHEFFIELD THEATRE TRUST DIRECTORS’ REPORT FOR THE YEAR ENDING 31 JULY 2021 (continued)

Structure, Governance and Management

Governing document

City of Sheffield Theatre Trust Limited (COSTT) is a company limited by guarantee governed by its Memorandum and Articles of Association dated 21 December 2011. It is registered as a charity with the Charity Commission. Sheffield Theatres Trust is the sole member of the organisation and it has 7 trustees.

Objects

The primary objects of the charity specified in the Memorandum and Articles of Association are the advancement of the arts and to educate the public in the art of drama in particular by the production, promotion, presentation and the management of plays, mime, ballet, dance, singing, music and any other artistic works at The Lyceum Theatre and such other premises of the Company or elsewhere.

Organisation

The board of trustees, which must have no fewer than 3 members, administers the charity. The board meets twice a year and there are sub-committees covering finance and audit, human resources and trustee nominations which meet more regularly. A Chief Executive is appointed by the trustees to manage the day to day operations of the charity. To facilitate effective operations, the Chief Executive has delegated authority, within terms of delegation approved by the trustees, for operational matters including finance, employment and artistic performance related activity.

Appointment of trustees

The seven trustees are nominated by Sheffield Theatres Trust.

Trustee induction and training

New trustees are invited to the registered office of COSTT to meet with the Senior Management Team to brief them on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision making processes, the business plan and recent financial performance of the charity.

Public benefit

The board of trustees have complied with the duty in section 4 of the Charities Act 2006 to have due regard to public benefit guidance published by the Commission.

The charity seeks to maximise attendance and participation in its activities to ensure that audiences are drawn from every socio-economic groups and age ranges. It does this by advertising to the public through the media, print, social network and reaching out to the local community.

We continue to offer tickets at £5 under the Live for 5 scheme to everyone between the age of 16 and 26.

Risk management

The Trustees are committed to the identification and management of the major strategic, business and operational risks which the charity faces. Under normal circumstances, the principal risk relates to the cancellation of a visiting company production or failure of critical technical equipment. However this year the main risk was that presented by the sudden closure of the theatre due to the global pandemic which had a significant impact on the whole theatre industry. This risk will continue to be managed through 2021/22.

The Trustees and Senior Management are fully aware of the risk profile in the business and a multi-function team of managers within the organisation took over the management of the situation and continue to meet daily to manage the situation by communicating with all levels of the organisation, identifying all risks and regularly updating a detailed risk register identifying likelihood and impact together with actions necessary to mitigate the risk. This continues to be monitored and reported to the appropriate Sub Committees and then presented to the main board.

Related parties

City of Sheffield Theatre Trust and Sheffield Theatres Crucible Trust are both subsidiaries of Sheffield Theatres Trust.

2

CITY OF SHEFFIELD THEATRE TRUST DIRECTORS’ REPORT FOR THE YEAR ENDING 31 JULY 2021 (continued)

Objectives and activities

The main objectives for the period are the promotion and fostering of artistic knowledge and the appreciation of the arts by the provision and future development of facilities for the education and entertainment of the public in the fields of art, craft, music and drama.

The strategies employed to achieve the charity's objectives are to:

3

CITY OF SHEFFIELD THEATRE TRUST

DIRECTORS’ REPORT FOR THE PERIOD ENDING 31 JULY 2021 (continued)

Strategic Report

The Trustees present their Strategic Report for the year ended 31 July 2021.

Achievements and Performance

During the course of the entire financial year, the Lyceum Theatre has remained closed due to the ongoing Covid19 pandemic with no performances taking place.

In the period between May — July 2021, we undertook maintenance to get the theatre ready, including some Covid measures to prepare the theatre for the safe return of audiences. Throughout the closure the staff team monitored the building to ensure it remained safe and secure.

On 16 August 2021, the Lyceum reopened after 17 months of closure with Hairspray.

We were extremely grateful to the government for the support of the Culture Recovery Fund, the Covid Job Retention Scheme, Arts Council England and Sheffield City Council for their financial support.

The City of Sheffield Theatre Trust benefited from rent relief throughout the closure of the Lyceum, and records their thanks to the Lyceum Theatre Trust.

Financial Review

The financial performance in 2020/21 as a result of the pandemic and closure resulted in a deficit of unrestricted funds of £36,222 (2020: £186,617).

The in-year increase in cash is due to the gradual increase in sales pending the reopening of the theatre on 16 August 2021.

Future Plans

The Lyceum reopened on 16 August 2021 and we have noticed some caution with producers touring work, and also audiences returning. Budgets have been adjusted accordingly and we have a large number of shows either rebooked or new to the Lyceum.

Over Christmas 2021 we presented Sleeping Beauty, our co-produced pantomime with Evolution Productions, followed by the Siberian Russian Ballet. Other companies in the forthcoming year include Bedknobs and Broomsticks, The Da Vinci Code, 9 to 5 The Musical, Dreamgirls and, of course, Sheffield Theatres’ Everybody’s Talking About Jamie. We have future shows booked into 2023, including Sister Act.

4

CITY OF SHEFFIELD THEATRE TRUST

DIRECTORS’ REPORT FOR THE PERIOD ENDING 31 JULY 2021 (continued)

Investment powers and policy

Under the Memorandum and Articles of Association, the charity has the power to invest in any way the trustees wish.

Reserves policy

The company is part of the Sheffield Theatres Trust group and its reserves are taken into account as part of the group's reserves policy. Certain reserves have been designated for renewals and repairs as set out in note 9.

Nominated by Sheffield Theatres Trust

Mr John Cowling (resigned 28 May 2021) Mr James Garnett (appointed 13 May 2021) Mrs Surriya Falconer Dame Julie Kenny (resigned 28 May 2021) Ms Eleanor Lang (appointed 13 May 2021) Mr Neil MacDonald (appointed 22 January 2021) Ms Kirsten Major (appointed 13 May 2021) Ms Rosie Neave Mr Arun Singh Mr Giles Searby(resigned 28 May 2021)

5

CITY OF SHEFFIELD THEATRE TRUST

DIRECTORS’ REPORT FOR THE PERIOD ENDING 31 JULY 2021 (continued)

Constitution

The company is a company limited by guarantee and not having a share capital. Each member gives a guarantee to contribute a sum not exceeding £1 to the company should it be wound up. At 31 July 2021 there were 7 members.

Statement of Trustees’ Responsibilities

The trustees (who are also directors of City of Sheffield Theatre Trust for the purposes of company law) are responsible for preparing the Trustees’ Annual Report (including the Strategic Report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure of information to auditors

The directors of the company who held office at the date of approval of this Annual Report each confirm that:

N MacDonald - Director

Date: 21 January 2022

6

CITY OF SHEFFIELD THEATRE TRUST INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES OF CITY OF SHEFFIELD THEATRE TRUST

Opinion

We have audited the financial statements of City of Sheffield Theatres Trust (the ‘charitable company’) for the year ended 31 July 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows, the notes to the financial statements and a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annua! report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

7

CITY OF SHEFFIELD THEATRE TRUST

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF CITY OF SHEFFIELD THEATRE TRUST (continued)

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report and the directors’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you #f, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 6, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

8

CITY OF SHEFFIELD THEATRE TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF CITY OF SHEFFIELD THEATRE TRUST The exlenl lo which our procedures are capable of delecknng irregul¥iti"es. induding fraud is detailed below.. The charitable company is subj'ect lo laws and regulations that diredly arKI indreclly affect the financial slalemenls. Based on our underslandiro of the charity aThJ the envronmenl il operates within. we determined Ihal the laws and regulations wh￿h were mosl significanl included FRS 102 and the Companies Act 2006. We considered the exlenl lo ￿lch non<omFAiance with these laws and reguL4lions rn￿h1 have a rnalerial effect on the financial slalemenls. including how fraud mKJhl 0¢￿r. We evaluated Mana￿Ment'S incentives and opporlunilies for fraudulent manipulation of the financial slalemenls (induding Ihe risk of override of conlrols), and determined that the principal risks were rdaled to the posting of inapKKorKiale journal entries lo improve the charity's result for the period, and management bias rn key accounting estimates. Audit procedures performed by the engagemenl team induded: Discussions with management and Ihose responsible for Wl Corn￿13￿ prO￿dureS wlhin the charitable ompany lo obtain an understanding of the legal and regulatory framework appl￿ble to Ihe chartty and how the charity complies ￿th that frame￿k. induding consideration of known or suspected instances of non- compliance wllh laws and regulations and fraud.. Reviewing minules of Tnjslee meetings- Idenlifying and assessing the design effeclrveness of controls that management has in place lo prevent anrj delect (raud and non-cofflpliance wlh laws and regulations.. Challenging assumptions and judgements made by man3gemenl in their signfficant accounting eslimales. Identifying and lesling jourr7al entries. in parlicular anyjournal entries POsle(I with unusual account combinations Of posted by Sen1￿ management. A further description of our responsibilities is ava4able on the Fi￿ar￿la1 Reporting Council's website at www.frc.org.uklaudilorslaudit-assurancelaudilor-s-iesponsibililies-for-the-audil-of-lhe-f￿desCrIpt1on-of-lhe-audiIor.s- responsibililies-for. This description forms part of cmjr auditor's reporl. This rep¢yt is made solely lo the charitable company's members. as a body. in accor(lance with Chapter 3 of Parl 16 of Ihe Companies Act 2006. Our audit work has been undertaken $0 that we might slate lo the charitable company's members (hose rnallers we are required lo slate lo Ihem in an auditor's report and for ￿ other purpose. To the fullest exlenl permitted by law. we do not accept or assume respoF)sibilily lo anyone other than the charitable company and the Charitab￿ (x)mpan￿$ members as a b(xJy. for our audit work, for this report, or for the opinions we have formed. Simon Bladen, Senior Statut￿Y Auditor For and on behalf Hawsons Chartered Accountants. Statutcry Audilor Pegasus House 463a Glossop Road Sheffield S10 2QD

CITY OF SHEFFIELD THEATRE TRUST ACCOUNTING POLICIES

The following accounting policies have been used consistently in dealing with items which are considered material to the charitable company's affairs.

Statutory Information

City of Sheffield Theatre Trust is a charity (No. 1121284) and a company limited by guarantee (No 6308382) domiciled in England and Wales. The registered office is at 55 Norfolk Street, Sheffield, $1 1DA.

Accounting Convention

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommend Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Companies Act 2006 and UK Generally Accepted Practice. There have been no material departures from these standards.

The presentation currency is United Kingdom pounds sterling, which is the functional currency of the charity.

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future.

Incoming Resources from Generated Funds

Voluntary income primarily represents grants receivable. Revenue grants are recognised at fair value when the company has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. Grants to finance capital expenditure are credited to restricted funds using the same criteria as revenue grants.

Incoming resources from charitable activities represent ticket sales and related fees for performances conducted in the year. Any tickets sold in advance are included in cash and deferred income.

Charitable Activities

Charitable activities include expenditure associated with the staging of shows and include both the direct costs and support costs relating to these activities.

Other Costs

Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.

Depreciation

Equipment and furniture — These are depreciated in equal annual instalments over their estimated useful lives which ranges from 3 to 10 years.

Leases

Rentals payable under operating leases are charged in the Statement of Financial Activities in the year in which they are incurred.

Pension Costs

The company operates a defined contribution pension scheme for employees. Pension costs charged in the financial statements represent the contributions payable by the company during the year.

Restricted Funds

Amounts received to finance capital expenditure are credited to Restricted Funds.

Depreciation on the assets financed by the Restricted Funds is charged directly to the Restricted Fund in the Statement of Financial Activities.

10

CITY OF SHEFFIELD THEATRE TRUST

ACCOUNTING POLICIES continued

Going concern

The current Covid-19 pandemic has given rise to an unexpected level of uncertainty for the business. The company has taken a number of actions to manage its cash flow. After due consideration of all relevant factors the company's income and cash flow forecasts and projections indicate that the company should be able to continue to operate for the foreseeable future.

The trustees therefore have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly they continue to adopt the going concern basis in preparing the financial statements.

14

CITY OF SHEFFIELD THEATRE TRUST

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) YEAR ENDED 31 JULY 2021

Unrestricted Restricted 2021 2020
Notes Funds Funds Total Total
£ £ 3 £
Incoming resources
Incoming resources from
generated funds:
Donations and legacies 1 362,014 - 362,014 291,600
Other trading activities - - - 12,500
Incoming resources from
charitable activities		 2 at vol - Wists saliealles
Total incoming resources 372,393 - 372,393 3,895,018
Resources expended
on:
Raising funds 6 . - -
Charitable activities 7 405,615 115,005 520,620 4,184,135
Other 8 3,000 - 3,000 3,415
Total resources expended 408,615 115,005 523,620 4,187,550
Net(Outgoing) Resources 4 (36,222) (115,005) (151,227) (292,532)
Fund balances brought forward
at1August 337,934 443,333 781,267 1,073,799
Fund Balances Carried 301,712 328,328 630,040 781,267
ForwardAt31July

There are no recognised gains and losses other than the results for the year set out above.

There is no difference between the amounts stated above and their historical cost equivalents.

There were no discontinued operations.

12

CITY OF SHEFFIELD THEATRE TRUST COMPANY REGISTRATION NUMBER: 6308382

BALANCE SHEET

31 JULY 2021
Notes 2021 2020
£ £
FIXEDASSETS 11 321,766 438,596
CURRENT ASSETS
Debtors 12 1,839,987 2,201,993
Cash at bank and in hand 1a 1,702,945 843,724
3,542,932 3,045,717
CREDITORS
Amounts falling due within one year 14 3,234,658 2,703,046
NET CURRENT ASSETS 308,274 342,671
NETASSETS 630,040 781,267
RESERVES 9
Restricted funds 328,328 443,333
Designated fund 90,000 90,000
General fund 241,712 247 934
630,040 781,267

These financial statements were approved and authorised for issue by the board of directors on 21 January 2022 and signed on its behalf by:

N MacDonald - Director

13

CITY OF SHEFFIELD THEATRE TRUST

CASH FLOW STATEMENT

YEAR ENDED 31 JULY 2021

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |Notes|2021|2020| |E|£| |Cash|flow from|operating|activities|5|859,221|(2,938,972)| |Cash|flow from|investing|activities| |Capital|expenditure|=| |Net cash|flow from|investing|activities|2|ar| |Net increase/(decrease)|in cash and cash|equivalents|859,221|(2,938,972)| |Cash|and|cash|equivalents|at|1|August|843,724|3,782,696| |Cash and cash|equivalents|at 31|July|~ 4,702,945|"843,724| |Cash|and|cash|equivalents|consists|of:| |Cash at bank and|in hand|~|1,702,945|843,724|

----- End of picture text -----

14

CITY OF SHEFFIELD THEATRE TRUST

NOTES ON ACCOUNTS

YEAR ENDED 31 JULY 2021

1 INCOME FROM DONATIONS AND LEGACIES 2021 2020
Unrestricted E £
Sheffield City Council 291,600 291,600
Sheffield City Council Covid-19 support fund 70,414 -
Total voluntary income 362,014 291,600
2 INCOME FROM CHARITABLE ACTIVITIES 2021 2020
Unrestricted £ £
Ticket and related sales 40,379 3,590,918
3 STAFF PARTICULARS 2021 2020
Staffcosts comprised: £ £
Wages and salaries 146,568 792,086
Social security costs 16,896 61,997
Other pension costs 18,465 65,657
181,929 919,740

No employee received annual emoluments in excess of £60,000.

All employees have contracts of employment with Sheffield Theatres Trust and are recharged by that company to City of Sheffield Theatre Trust. Remuneration of key management personnel is disclosed in Sheffield Theatres Trust.

No remuneration or expenses were paid during the year to any of the directors of the company.

15

CITY OF SHEFFIELD THEATRE TRUST

NOTES ON ACCOUNTS (continued)

YEAR ENDING 31 JULY 2021 YEAR ENDING 31 JULY 2021
4 NET(OUTGOING) RESOURCES 2021 2020
(a) This is stated after charging/(crediting): £ £
Auditors’ remuneration as auditors 3,000 3,415
Depreciation 116,830 107,740
Operating lease rentals:
Land & buildings a -
5 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITES
2021 2020
£ £
Net expenditure (151,227) (292,532)
Depreciation and amortisation 116,830 107,740
Decrease/(increase) in debtors 362,006 (1,125,603)
Increase/(decrease) in creditors 531,612 (1,628,577)
Net cash inflow(outflow)from operating activities 859,221 (2,938,972)
6 RESOURCES EXPENDED ON RAISING FUNDS
2021 2020
£ £
Fundraising a -
7 COSTOF CHARITABLE ACTIVITIES 2021 2020
£ £
Production Costs
Indirect production consumables - 756
Miscellaneous costs - 588
Visitingcompanies fees and other costs - 2,914,053
Re-charge to co-producers and visiting companies - (357,917)
Hire costs - 10,145
Programme costs - 16,863
Licence and subscriptions 598 838
598 2,585,326

16

CITY OF SHEFFIELD THEATRE TRUST

NOTES ON ACCOUNTS (continued)

YEAR ENDING 31 JULY 2021

7 COST OF CHARITABLE ACTIVITIES (continued)

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |2021|2020| |Staff|Costs|£|£| |Staffing|costs|148,578|756,609| |Training,|recruitment|and|other|costs|3,875|3,732| |152,453|760,341| |Establishment|Costs|BO| |Rent,|rates|and|insurance|60,094|73,406| |Heat|and|power|21,258|35,679| |Electricity|19,340|52,231| |Repairs|and|renewals|26,628|101,238| |Waste|disposal|-|7,083| |Depreciation|115,005|105,915| |242,325|375)552| |Selling|Costs| |Publicity and|advertising|29,386|180,863| |Box|office|computer|systems|12,974|33;512| |Ticket|printing|455|2,197| |Miscellaneous|selling|costs|580|3,792| |Credit|card|commission|15,282|34,532| |Telephone,|postage,|stationery|and|photocopying|2,348|22,294| |Travel|and|entertaining|28|1,492| |61,053|278,681|

----- End of picture text -----

The company initially identifies the costs of its support functions which relate solely to the overall objective of producing varied range of performances. Governance costs are identified separately and are included in other costs as detailed in note 8.

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |Support|Costs| |Staffing|costs|33,351|97,751| |Training,|recruitment|and|other|costs|4,458|6,778| |Depreciation|1,825|1,825| |Telephone,|postage,|stationery and|photocopying|360|5,635| |IT|maintenance|and|peripherals|9,393|16,193| |Travel|and|entertaining|224|5,147| |Professional|charges|6,543|34,414| |Bank|charges|529|4,677| |Licence|and|subscriptions|6,275|9,420| |Miscellaneous|1,233|2,395| |64,191|184,235| |Total|costs|of|charitable|activities|520,620|4,184,135|

----- End of picture text -----

17

CITY OF SHEFFIELD THEATRE TRUST

NOTES ON ACCOUNTS (continued)

YEAR ENDING 31 JULY 2021

8 OTHER COSTS

2021 2020
rd £
Auditors remuneration — governance costs 3,000 3,415
9 RESERVES
At 1 August Incoming Outgoing At 31 July
2019 Resources Resources Transfers 2020
£ F £ fe E
RESTRICTED
Capital Redevelopment Fund 549,248 - 105,915 : 443,333
Total Restricted Funds 549,248 - 105,915 - 443,333
UNRESTRICTED
Designated — renewals and repairs 90,000 - - - 90,000
General 434,551 3,895,018 4,081,635 247,934
Total Unrestricted Funds §24,551 3,895,018 4,081,635 - 337,934
Total Funds 1,073,799 3,895,018 4,187,550 - 781,267
RESERVES
At 1 August Incoming Outgoing At 31 July
2020 Resources Resources Transfers 2021
£ £ £ £ £
RESTRICTED
Capital Redevelopment Fund 443,333 . 115,005 - 328,328
Total Restricted Funds 443,333 - 115,005 - 328,328
UNRESTRICTED
Designated — renewals and repairs 90,000 - - 90,000
General 247,934 372,393 408,615 - 241,712
Total Unrestricted Funds 337,934 372,393 408,615 - 301,712
TotalFunds 781,267 372,393 523,620 = 630,040

The capital redevelopment fund is for the redevelopment work on the Lyceum Theatre.

18

CITY OF SHEFFIELD THEATRE TRUST

NOTES ON ACCOUNTS (continued)

YEAR ENDING 31 JULY 2021

10
ANALYSIS OF NETASSETS BETWEEN FUNDS
Previous year’s comparison
Unrestricted Restricted
funds funds Total
2020 2020 2020
£ £ £
Tangible fixed assets 4,426 434,170 438,596
Current assets 3,036,554 9,163 3,045,717
Current liabilities (2,703,046) - (2,703,046)
Non-current liabilities - - -
337,934 443,333 781,267
ANALYSIS OF NETASSETS BETWEEN FUNDS
Unrestricted Restricted
funds funds Total
2021 2021 2021
£ £ £
Tangible fixed assets 2,601 319,165 321,766
Current assets 3,533,769 9,163 3,542,932
Current liabilities (3,234,658) (3,234,658)
Non-current liabilities - - -
301,712 328,328 630,040

19

CITY OF SHEFFIELD THEATRE TRUST

NOTES ON ACCOUNTS (continued)

YEAR ENDED 31 JULY 2021

11 FIXED ASSETS TANGIBLE

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |Land|and|.| |Buildings|rixtures|Plant and|Total| |Long|Fittinas|Equipment| |Leasehold|g| |Cost|£|£|£|2| |At|1|August|2020|239,980|743,467|823,904|1,807,351| |Additions|-|-|.|.| |At|31|July 2021|239,980|743,467|823,904|4,807,351| |Depreciation| |At|1|August|2020|140,627|735,183|492,945|1,368,755| |Charge|for|the|year|27,359|5,683|83,788|116,830| |At|31|July|2021|167,986|740,866|576,733|1,485,585| |Net|book|amounts| |At|31|July|2021|71,994|2,601|247,171|321,766| |At1 August 2020|99,353|8,284|330,959|438,596| |12|DEBTORS| |2021|2020| |£|£| |Due|within|one|year:| |Trade|debtors|-|517| |Amounts|owed|by group|undertakings|591,000|1,303,579| |Amount owed|by|parent|company|1,193,575|851,051| |Prepayments|and|accrued|income|55,412|46,846| |1,839,987|2,201,993| |13|CASH|AT|BANK|AND|IN|HAND| |2021|2020| |f|£| |Cash|at|bank and|in|hand|4,702,945|843,724|

----- End of picture text -----

20

CITY OF SHEFFIELD THEATRE TRUST

NOTES ON ACCOUNTS (continued)

YEAR ENDED 31 JULY 2021

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |14|CREDITORS|—|DUE|WITHIN|ONE|YEAR| |2021|2020| |£|£| |Amounts|falling|due|within|one|year:| |Trade|creditors|15,654|34,817| |Taxation|and|social|security|214,374|239,705| |Amounts|owed|to|parent|company|-|-| |Amounts|owed|to|fellow|subsidiaries|400,000|622,578| |Accruals|and|deferred|income|2,604,630|1,805,946| |3,234,658|2,703,046|

----- End of picture text -----

15 TAXATION

The company is a registered charity and as such is not normally liable to corporation tax.

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |2021|2020| |£|£| |Land|and|buildings| |Within|one|year|20,300|20,300| |Between|2|and|5|years|81,200|81,200| |Over five|years|436,250|456,450|

----- End of picture text -----

17 DEFINED CONTRIBUTION PENSION PLAN

The company operates a defined contribution pension plan and a salary exchange pension contribution scheme for its employees. The amount recognised as an expense in the period was £18,465 (2020 - £65,657).

18 ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Sheffield Theatres Trust, a registered charity.

19 TRANSACTIONS WITH RELATED PARTIES

In accordance with FRS 102 paragraph 33.1A the company has taken advantage of the exemption from disclosing transactions with its parent company and its fellow subsidiary companies.

No lease payments were made to the Lyceum Theatre Trust and no management fees were received. The City of Sheffield Theatre Trust holds a 35 year lease of the Lyceum Theatre from January 2013.

21

CITY OF SHEFFIELD THEATRE TRUST

MANAGEMENT INFORMATION A

STATEMENT OF FINANCIAL ACTIVITIES MOVEMENT IN UNRESTRICTED FUNDS

YEAR ENDING 31 JULY 2021

2021 2020
ra £
INCOMING RESOURCES
Donations and Legacies
Revenue grants general 362,014 291,600
362,014 291,600
Activities for generating funds
Management fees - 12,500
Incoming resources from charitable activities
Box office-own productions - 203,122
Box office — visiting companies - 3,420,393
- 3,323,515
Hire ofpremises - 31.532
Programme income 46,937
Miscellaneous income 10,379 188,934
10,379 267,403
Total incoming resources from charitable activities 372,393 3,590,918
TOTALINCOMINGRESOURCES 372,393 3,895,018

22

CITY OF SHEFFIELD THEATRE TRUST

MANAGEMENT INFORMATION B

STATEMENT OF FINANCIAL ACTIVITIES MOVEMENT IN UNRESTRICTED FUNDS

YEAR ENDING 31 JULY 2021

2021 2020
Direct Direct
Charitable Charitable
Expenditure Expenditure
E £
RESOURCES EXPENDED
Costs ofgenerating voluntary income
Fundraising charges 3
Charitable activities
Sheffield Production Costs
Indirect production consumables - 756
Miscellaneous - 588
- 1,344
Visiting Companies Costs
Visiting companies fees - 2,690,887
Other costs - 223,166
Re-charge to co-producers and visiting companies - (357,917)
- 2,556,136
Hire costs - 10,145
Programme costs - 16,863
Licence and subscriptions 598 838
Total Production Costs 598 2,583,982
Carriedforward 598 2,585,326

23

MANAGEMENT INFORMATION C

CITY OF SHEFFIELD THEATRE TRUST

STATEMENT OF FINANCIAL ACTIVITIES “MOVEMENT IN UNRESTRICTED FUNDS

YEAR ENDING 31 JULY 2021

2021 2020
Direct Direct
Charitable Other Charitable Other
Expenditure Expenditure Expenditure Expenditure
£ £ £ £
Brought Forward 598 - 2,585,326 -
Staff Costs
Staffing costs 148,578 33,351 756,609 97,751
Staff training 750 2,879 1,271 2,850
Other staffcosts 3,125 403 2,461 3,589
Staff recruitment - 1.176 - 339
152,453 37,809 760,341 104,529
Establishment costs
Rent, rates and insurance 60,094 - 73,406 -
Heat and power 21,258 - 35,679 -
Electricity 19,340 - 52,231 -
Repairs and renewals 26,628 - 101,238 -
Waste disposal - - 7,083 -
Depreciation - 1,825 - 1,825
127,320 1,825 269,637 1,825
Publicity and advertising 29,386 - 180,863 -
Box office and computer systems 12,974 . 33,512 -
Ticket printing 455 - 2,197 .
Miscellaneous selling costs 580 - 3,792 -
Credit card commissions 15,282 - 34,532 -
Telephone, postage, stationeryand
photocopying		 2,348 - 22,294 -
Travel and entertaining 28 - 1,491 -
61,053 - 278,681 -
Carriedforward 341,424 39,634 3,893,985 106,354

24

CITY OF SHEFFIELD THEATRE TRUST

MANAGEMENT INFORMATION D

STATEMENT OF FINANCIAL ACTIVITIES MOVEMENT IN UNRESTRICTED FUNDS (Continued)

YEAR ENDING 31 JULY 2021

2021 2020
Direct Direct
Charitabie Other Charitable Other
Expenditure Expenditure Expenditure €xpenditure
£ E £ £
Broughtforward 341,424 39,634 3,893,985 106,354
Administration costs
Stationery/photocopying - 360 - 5,635
IT maintenance & peripherals - 9,393 - 16,193
Travel and entertaining - 224 - 5,147
Professional charges - 6,543 - 34,414
Bank charges - 529 = 4,677
Licence and subscriptions - 6,275 - 9,420
Miscellaneous - 1,233 - 2,395
- 24,557 - 77,881
Governance costs
Audit fee - 3,000 - 3,415
TOTAL RESOURCES EXPENDED 341,424 67,191 3,893,985 187,650
2021 2020
£ £
Total incoming resources 372,393 3,895,018
Resources expended
Direct charitable expenditure 341,424 3,893,985
Other expenditure 67,191 187,650
NETMOVEMENT IN UNRESTRICTED
FUNDS		 (36,222) (186,617)

25

CITY OF SHEFFIELD THEATRE TRUST

MANAGEMENT INFORMATION E

STATEMENT OF FINANCIAL. ACTIVITIES MOVEMENT IN UNRESTRICTED FUNDS (Continued) YEAR ENDING 31 JULY 2021

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |2021|2020| |iz|£| |RESTRICTED|FUNDS|EXPENDED| |Capital|Redevelopment| |TOTAL|(115,005)|(105,915)| |MOVEMENT ON|RESTRICTED|FUNDS|BEFORE TRANSFERS|(115,005)|(105,915)| |NET MOVEMENT|IN|FUNDS|(115,005)|(105,915)| |TOTAL MOVEMENT ON|FUNDS|(151,227)|(292,532)|

----- End of picture text -----

26