2022-07-31-accounts - The City Of Sheffield Theatre Trust

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					Page
Directors' Report and		Strategic Report
Statement	ofTrustees'	Responsibilities
Independent	Auditors'	Report
Accounting	Policies
Statement	of Financial	Activities (including	Income and Expenditure	Account)
Balance Sheet					14
Statement	ofCash Flows				15
Notes to the Financial		Statements			16—22

Legal and	administration	administration	administration
Official name ofcharity:				City of Sheffield Theatre Trust
Charity registration		number:		1121284
Company	registration		number:	6308382
Registered	Office:			55 Norfolk Street
				Sheffield
				S1 1DA
Directors	and Trustees:			Mr James Garnett
				Ms Eleanor Lang
				Mr Neil MacDonald
				Ms Kirsten Major
				Ms Rosie Neave
				Mr Arun Singh
Chief Executive:				Dan Bates
Bankers:				Barclays Bank
				1 St Paul's Place
				Norfolk Street
				Sheffield S1 2JW
Auditors:				Hawsons Chartered	Accountants
				Statutory Auditor
				Pegasus House
				463a Glossop Road
				Sheffield
				S102QD

CITY OF SHEFFIELD THEATRE TRUST INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF CITY OF SHEFFIELD THEATRE TRUST (continued) Auditor's responsibilities for tho audit of the financial statgmgnts Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement. whether due lo Iraud 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 audit conducted in accordance with ISAS {UKI will always detect a material misststemenl 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 to influence the economic deoisions of users taken on the basis of these financial slalemenls. The extent lo which our procedures are capable of detecting irregularities. irtluding fraud is detailed below: The charitable company is subject lo laws and regulations that directly and indirllY affect the financial 51atemenls. Based on our understanding of the charity and the environment it operates Mthin, we determined that the laws and regulations which were most signrficant included FRS 102, the Companies Act 2006. Health and Safely Regulations and the Charities Act 2011. We considered the extent lo Ythich non-compliance with these laws and regulations might have a material effect on the financial slalemenls. including how fraud might occur. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements lincluding the risk of override of conirols}, and delerniined that the principal risks were related lo the posting of inappropriate journal entries lo improve the charitys result for the pe(ic*J. and management bias in key accounting estimates. Audit procedures perfomied by the engagement team induded.. Discussions with management and those responsible for legal $Mpliance procedures wlhin the charitable company lo obtain an understanding of the legal and regulatory framework applicable lo the charity and how the charity complies wilh that framework. induding consideration of known or suspected instances of non- compliance wlh law5 and regulations fraud,- Reviewing minutes of Tnjstee meetings- Identifying and assessing the design effectiveness of controls that management has in place lo prevent and detect fraud and non-compliance with laws and regulations.. Challenging assumptions and judgements made by fflanagemenl in their signrficanl accounting eslimales. Identifying and lesling joumal enlries, in particulax anyjournal entries posted with unusual account combinations or posted by senior management. A further description of our responsibilrties rs available on the Financial Reporting Council's website at www.frc.org.ukjaudilors1audit-assuraneelaudilor-5-responsibilities-for-lhud1l-0f-the-fdeScriptlon-0f-1he-audl1or,$- responsibililies-for. This description forms part of our auditor's report.

EAR ENDED 31JUL	Y 2022
			Unrestricted	Restricted	2022	2021
		Notes	Funds	Funds	Total	Total
			6	6
Incoming resources
incoming resources from
generated funds:
Donations and legacies			6,604		6,604	362,014
Other trading activities			25,000		25,000
Incoming resources from charitable activities		2	5,351,504		5,351,504	10,379
Total incoming resources			5,383,108		5,383,108	372,393
Raising funds		6
Charitable activities		7	5,328,252	111,145	5,439,397	520,620
Other		8	3,400		3,400	3,000
Total resources expended			5,331,652	111,145	5,442,797	523,620
Net Incoming/(Outgoing)	Resources	4	51,456	(111,145)	(59,689)	(151,227)
Fund balances brought	forward
at 1 August			301,712	328,328	630,040	781,267
Fund Balances Carried			353168	217,183	570,351	630,040
Forward At 31July

BALANCE SHEET
31 JULY2022
	Notes	2022	2021
FIXEDASSETS		209,321	321,766
CURRENT ASSETS
Debtors	12	1,770,016	1,839,987
Cash at bank and in hand	13	3,605,197	1,702,945
		5,375,213	3,542,932
CREDITORS
Amounts falling due within one year	14	5,014,183	3,234,658
NET CURRENT ASSETS		361,030	308,274
NET ASSETS		570,351	630,040
RESERVES
Restricted funds		217,183	328,328
Designated fund		90,000	90,000
General fund		263,168	211,712
		570,351	630,040

EAR ENDED 31JULY 2	022
		Notes	2022	2021
				F
Cash flow from operating	activities		1,902,252	859,221
Cash flow from investing	activities
Net increase in cash and cash equivalents			1,902,252	859,221
Cash and cash equivalents	at 1 August		1,702,945	843,724
Cash and cash equivalents	at 31 July		3,605,197	1,702,945
Cash and cash equivalents	consists of:
Cash at bank and in hand			3,605,197	1,702,945

E	AR ENDED 31JULY2022
1	INCOME FRONI DONATIONS	AND LEGACIES		2022	2021
	Unrestricted			6	f
	Arts Council England
	Sheffield City Council				291,600
	Sheffield City Council Covid-1	9support	fund	6,604	70,414
	Total voluntary income			6,604	362,014
2	INCOME FROM CHARITABLE ACTIVITIES			2022	2021
	Unrestricted				6
	Ticket and related sales			5,351,504	10,379
3	STAFF PARTICULARS			2022	2021
	Staffcosts comprised:
	Wages and salaries			1,007,051	146,568
	Social security costs			70,413	16,896
	Pension costs			61,441	18,465
				1,138,905	181,929

E	AR ENDING 31 JULY 2022	AR ENDING 31 JULY 2022	AR ENDING 31 JULY 2022
4	NET INCOMING/(OUTGOING)			RESOURCES	2022	2021
(a) This is stated after		charging/(crediting):
	Auditors' remuneration		as auditors		3,400	3,000
	Depreciation				112,445	116,830
	Operating lease rentals:
	Land &buildings				20,300
5	RECONCILIATION	OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITES
					2022	2021
					6	f
	Net expenditure				(59,689)	(151,227)
	Depreciation				112,445	116,830
	Decrease in debtors				69,971	362,006
	Increase in creditors				1,779,525	531,612
	Net cash inflow from	operating		activities	1,902,252	859,221
6	RESOURCES EXPENDED ON RAISING FUNDS
					2022	2021
					6	P
	Fundraising
7	COST OF CHARITABLE ACTIVITIES				2022	2021
					6
	Production Costs
	Visiting companies fees		and other costs		3,852,404
	indirect production consumables				558
	Miscellaneous costs				471
	Re-charge to co-producers and			visiting companies	(646,226)
	Hire costs				46,469
	Programme costs				11,813
	Licence and subscriptions				846	598
					3,266,335	598

			2022	2021
Staff Costs				6
Staffing costs			977,002	148,578
Training, recruitment	and other	costs	7,209	3,875
			984,211	152,453
Establishment Costs
Rent, rates and insurance			120,403	60,094
Heat and power			29,385	21,258
Electricity			94,857	19,340
Repairs and renewals			93,268	26,628
Waste disposal			5,466
Depreciation			111,145	115,005
			454,524	242,325
Selling Costs
Publicity and advertising			349,904	29,386
Box office computer systems			38,065	12,974
Ticket printing			3,114	455
Miscellaneous selling	costs		2,692	580
Credit card commission			87,224	15,282
Telephone, postage, stationery		and photocopying	12,149	2,348
Travel and entertaining			219	28
			493,367	61,053

ucing varied range o detailed in note 8.	fpe	rforma	nces. Governance costs are ident	ified separately and are includ	ed in other
Support Costs
Staffing costs				161,903	33,351
Training, recruitment	and	other	costs	13,135	4,458
Depreciation				1,300	1,825
Telephone, postage, stationery			and photocopying	3,102	360
IT maintenance and peripherals				24,737	9,393
Travel and entertaining				2,950	224
Professional charges				12,558	6,543
Bank charges				4,706	529
Licence and subscriptions				12,096	6,275
Miscellaneous				4,473	1,233
				240,960	64,191
Total costs ofcharitable		activities		5,439,397	520,620

8	OTHER COSTS
							2020	2021
							f	f
	Auditors remuneration		—governance	costs			3,400	3,000
9	RESERVES
				At 1 August	Incoming	Outgoing		At 31 July
				2020	Resources	Resources	Transfers	2021
							F	f
	RESTRICTED
	Capital Redevelopment		Fund	443,333		115,005		328,328
	Total Restricted Funds			443,333		115,005		328,328
	UNRESTRICTED
	Designated —Major repairs			90,000				90,000
	General			247,934	372,393	408,615		211,712
	Total Unrestricted	Funds		337,934	372,393	408,615		301,712
	Total Funds			781,267	372,393	523,620		030,040
	RESERVES
				At 1 August	Incoming	Outgoing		At 31 July
				2021	Resources	Resources	Transfers	2022
				f			f	f
	RESTRICTED
	Capital Redevelopment		Fund	328,328		111,145		217,183
	Total Restricted Funds			328,328		111,145		217,183
	UNRESTRICTED
	Designated —Major repairs			90,000				90,000
	General			211,712	5,383,108	5,331,652		263,168
	Total Unrestricted	Funds		301,712	5,383,108	5,331,652		353,168
	Total Funds			630,040	5,383,108	5,442,797		570,351

			Unrestricted	Restricted
			funds	funds	Total
			2021	2021	2021
			6	6	6
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
ANALYSIS		OF NET ASSETS BETWEEN FUNDS
			Unrestricted	Restricted
			funds	funds	Total
			2022	2022	2022
			K	6	f
Tangible	fixed assets		1,301	208,020	209,321
Current	assets		5,366,050	9,163	5,375,213
Current	liabilities		(5,014,183)		(5,014,183)
Non-current		liabilities
			353,168	217,183	570,351

11 FIXEDASSETS	TANGIBLE
		Land and
		Buildings Long	Fixtures and Fittings	Plant and Equipment	Total
		Leasehold
Cost
At 1 August 2021		239,980	743,467	823,904	1,807,351
Additions
At 31 July 2022		239,980	743,467	823,904	1,807,351
~Di 9
At 1 August 2021		167,986	740,866	576,733	1,485,585
Charge for the year		27,358	1,300	83,787	112,445
At 31 July 2022		195,344	742,166	660,520	1,598,030
Net book amounts
At 31 July 2022		44,636	1,301	163,384	209,321
At 1 August 2021		71,994	2,601	247,171	321,766
12 DEBTORS
				2022	2021
				f	f
Due within one year:
Trade debtors				11,314
Amounts owed by	group undertakings			621,844	591,000
Amount owed by parent company				1,082,260	1,193,575
Prepayments and	accrued income			54,598	55,412
				1,770,016	1,839,987
13 CASH AT BANK AND IN HAND
				2022	2021
					f
Cash at bank and	in hand			3,605,197	1,702,945

	CRED	ITORS	—DUE	WITHIN	ONE YEAR
						2022	2021
						6	E
Amounts		failing	due within one		year:
Trade creditors						344,974	15,654
Taxation		and social security				796,512	214,374
Amounts		owed	to fellow subsidiaries			800,046	400,000
Accruals		and deferred		income		3,072,651	2,604,630
						5,014,183	3,234,658
	TAXATION
	The company		is a registered		charity and as such is not normally	liable to corporation tax.
	FINANCIAL		COMMITMENTS
						2022	2021
						6	f
	Land	and buildings
	Within	one year				20,300	20,300
	Between 2 and 5years					81,200	81,200
	Over five years					416,150	456,450