## ## ## ## ||||||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|details||| |---|---|---|---|---|---|---| |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 indir￿llY 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 ￿$Mpliance procedures wlhin the charitable company lo obtain an understanding of the legal and regulatory framework applicable lo the charity and how the charity complies wilh that framework. induding consideration of known or suspected instances of non- compliance wlh law5 and regulations fraud,- Reviewing minutes of Tnjstee meetings- Identifying and assessing the design effectiveness of controls that management has in place lo prevent and detect fraud and non-compliance with laws and regulations.. Challenging assumptions and judgements made by fflanagemenl in their signrficanl accounting eslimales. Identifying and lesling joumal enlries, in particulax anyjournal entries posted with unusual account combinations or posted by senior management. A further description of our responsibilrties rs available on the Financial Reporting Council's website at www.frc.org.ukjaudilors1audit-assuraneelaudilor-5-responsibilities-for-lh￿ud1l-0f-the-f￿deScriptlon-0f-1he-audl1or,$- 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| ## ## ## ## ##