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: - e offer opportunities for a broad range of people to get involved in arts activity exploring their own creative powers; - e provide facilities for amateur and professional artists to develop. Groups in the city are given discounted rates for hire of space and access to professional advice; - e concentrate on involving young people in the arts to help encouragea culture in which different age ranges play a complimentary part; - e celebrate the diversity of cultures in our society by programming presentations by, and with, artists of different cultural backgrounds; - e present a broad range of arts work. 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: - e — select suitable accounting policies and then apply them consistently; e observe the methods and principles in the Charities SORP (FRS 102); e make judgements and estimates that are reasonable and prudent; - e state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; - e prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. 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: - e so far as they are aware there is no relevant audit information (information needed by the company’s auditors in connection with preparing their report) of which the company’s auditors are unaware; and - e they have taken all the steps that they ought to take as Directors in order to make themselves aware of any audit information and to establish that the company’s auditors are aware of that information. - In approving the Trustees’ Annual Report, we also approve the Strategic Report included therein, in our capacity as company directors. 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: - give a true and fair view of the state of the charitable company's affairs as at 31 July 2021, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; - ¢ have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and e have been prepared in accordance with the requirements of the Companies Act 2006. ## 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: - e the information given in the trustees’ report {incorporating the strategic report and the directors’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements: and - the strategic report and the directors’ report have been prepared in accordance with applicable legal requirements. ## 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: - ® adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - e the financial statements are not in agreement with the accounting records and returns; or - e certain disclosures of directors’ remuneration specified by law are not made; or - ¢ we have not received all the information and explanations we require for our audit. ## 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 noncharitable 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. - 16 FINANCIAL COMMITMENTS **----- 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 -----**
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