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2023-07-31-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 2023

CITY OF SHEFFIELD THEATRE TRUST

ANNUAL REPORT

YEAR ENDED 31 JULY 2023

CONTENTS

Page
Directors’ Report and Strategic Report 1
Statement ofTrustees' Responsibilities 5
Independent Auditors' Report 6
Accounting Policies 10
Statement of Financial Activities (including Income and Expenditure Account) 12
Balance Sheet 13
Statement of Cash Flows 14
NotestotheFinancialStatements 15-21

CITY OF SHEFFIELD THEATRE TRUST

DIRECTORS’ REPORT FOR THE YEAR ENDING 31 JULY 2023

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 2023. 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 S11DA Directors and Trustees: Mr James Garnett Ms Eleanor Lang Mr Neil MacDonald Ms Kirsten Major Ms Rosie Neave Mr Arun Singh Chief Executive: Tom Bird 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 $10 2QD

4

CITY OF SHEFFIELD THEATRE TRUST DIRECTORS’ REPORT FOR THE YEAR ENDING 31 JULY 2023 (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 6 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 six 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.

Our accessible performances include the monthly Dementia Tea Dances.

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.. A multi-function team of managers within the organisation is tasked with communicating with all levels of the organisation to identify risk and regularly update a detailed risk register identifying likelihood and impact together with actions necessary to mitigate the risk.

The principal risk relates to the cancellation of a visiting company production or failure of critical technical equipment. These are typical risks in a presenting theatre and the trustees and senior management team are fully aware of these risks and monitor them regularly.

Related parties

City of Sheffield Theatre Trust, Crucible Enterprises Ltd, Offstage Ltd, Sheffield Crucible Productions Ltd and Sheffield Theatres Crucible Trust are all subsidiaries of Sheffield Theatres Trust.

2

CITY OF SHEFFIELD THEATRE TRUST

DIRECTORS’ REPORT FOR THE YEAR ENDING 31 JULY 2023 (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:

Strategic Report

The Trustees present their Strategic Report for the year ended 31 July 2023.

Achievements and Performance

The season opened with Beautiful the Musical, Best Marigold Hotel and The Little Mermaid, and played to around 200,000 audiences. This shows a steady but slow growth in audiences since the pandemic. It is clear that audiences have not returned fully to the theatres.

Highlights of the year were Derren Brown, Mamma Mia, Rocky Horror Show and Mother Goose which featured Sir lan McKellen and John Bishop

Wecontinued our much-valued co-producing partnership with Evolution on our pantomime, Jack and the Beanstalk, this performed to over 50,000 audiences.

During the year, with the help of funding from our landlords, Sheffield Lyceum Theatre Trust, we created accessible toilets to two levels in the Lyceum. Sadly, one of the founders of Sheffield Lyceum Theatre Trust, Mike Pye, passed away in April 2023.

Future Plans

The programme continues to grow and develop to ensure we can fulfil our mission and provide entertainment to everyone.

Highlights for the year ahead include The Nutcracker, Drop the Dead Donkey, Peter Pan Goes Wrong, Romeo & Juliet, Annie and Everybody’s Talking about Jamie.

Financial review

The financial performance in 2022/23 is a surplus of unrestricted funds of £182,448 (2022: surplus £51,456).

The high level of cash balance is predominantly cash built up as customers begin to book in advance for productions showing after the year end.

3

CITY OF SHEFFIELD THEATRE TRUST

DIRECTORS’ REPORT FOR THE PERIOD ENDING 31 JULY 2023 (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. The Lyceum theatre is a Grade II listed building, built in 1897 with a capacity of 1,068 and requiring a high level of upkeep. Certain reserves have been designated for future unforeseen major repairs as set out in note 9.

Directors

The directors, who are also trustees of the charity, during the year and to the date of this report were as follows:

Nominated by Sheffield Theatres Trust

Mr James Garnett

Ms Eleanor Lang Mr Neil MacDonald Ms Kirsten Major Ms Rosie Neave Mr Arun Singh

4

CITY OF SHEFFIELD THEATRE TRUST

DIRECTORS’ REPORT FOR THE PERIOD ENDING 31 JULY 2023 (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 2023 there were 6 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. Under company law the trustees must not approve the financial statements unless they are satisfied that they 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 In so far as the trustees are aware:

In approving the Trustees’ Annual Report, we also approve the Strategic Report included therein, in our capacity as company directors.

Signed on behalf of the board

N MacDonald City of Sheffield Theatre Trust

Date: 2Sonvecy TOT

5

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 2023 which comprise the statement of financial activities (incorporating the income and expenditure account), the balance sheet, the statement of cash flows and notes to the financial statements, including 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 annual 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.

6

CITY OF SHEFFIELD THEATRE TRUST

INDEPENDENT AUDITORS’ 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 our 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 if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 5, 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.

7

CITY OF SHEFFIELD THEATRE TRUST INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF CITY OF SHEFFIELD THEATRE TRUST (contlnued) Audltorfs re5ponsibilitios for the audit of the financlal staternents Our objectives are to obtain reasonable assurance about whether the finarKial statements as a whole are free from material misslatemenl, whether due lo fraud or erfor. 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 IUKI will always delect a material misslalement when il exists. Misstalemenls 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 tsken on the basis of these financial slalemenls. The extent lo which our wocedures are capable of detecting irregularities. induding fraud is detailed below.. The charitable company is subject lo laws and regulations that direcuy and indirectly affect the financial slalements. Based on our understanding of the charity and the environment it operates within, we determined that the laws and regulations which were most signrficanl included FRS 102 and the Companie5 Act 2006. We onsidered the exlenl lo which non-compliance with these laws and regulations might have a material effect on the financial statements, including how fraud might ocojr. We evaluated management's illcenlives and opportunities for fraudulent manipulalion of the financial statements lincfuding the risk of override of controls}, and determined that the principal risks were related to the posting of inappropriate joumal entries to improve the charity's result for the period, and management bias in key accounting estimates. Audit procedures performed by the engagement team included.. Discussions wlh management and those responsible for legal compliance procedures within the charitable company lo obtain an understanding of the legal and regulatory framework applicable lo the charity and how the charity complies with that framework, induding consideration of known or suspected instances of non- compliance with laws and regulations and fraud,. Reviewing minutes of Trustee meetings.. Idenlrfying and assessing the design effectiveness of contrds that management has in place lo prevent and delecl fraud and non-compliance with laws and regulations- Challenging assumptions and judgements made by management in their signrfic8nt accounting estimates. Idenlrfying and teslingjournal entries. in particular anyjournal entries p051ed with unLtsual account combinations or posted by senior management. A further description of our responsibilities is available on the Financial Reporting Council's website al www.frc.org.uklaudilorslaudil-assurancelaudilor-s-reswrisibilities-for-lhe-audtt-of-the-f￿descrlptson-0f-thQ-aUdlt0f.s- responsibililies-for. This description forms part of ijur auditor's report.

CITY OF SHEFFIELD THEATRE TRUST

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

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Simon Bladen, Senior Statutory Auditor

For and on behalf of Hawsons Chartered Accountants, Statutory Auditors

Pegasus House 463a Glossop Road Sheffield $10 2QD

Date: 12 Tonvcry Lot

9

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, S1 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 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.

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 primarily 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

Fixtures and fittings; 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

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.

11

CITY OF SHEFFIELD THEATRE TRUST

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) YEAR ENDED 31 JULY 2023

Unrestricted Restricted 2023 2022
Notes Funds Funds Total Total
£ £ £ £
Incoming resources
Incoming resources from
generated funds:
Donations and legacies 1 2,967 20,829 23,796 6,604
Other trading activities 25,000 - 25,000 25,000
Investment Income 1 130,000 - 130,000 -
neering HexoeiSen trom
charitable activities		 2 6,476,626 - 6,476,626 5,351,504
Total incoming resources 6,634,593 20,829 6,655,422 5,383,108
Resources expended
Raising funds 6 - - - =
Charitable activities 7 6,447,545 104,010 6,551,555 5,439,397
Other 8 4,600 - 4,600 3,400
Total resources expended 6,452,145 104,010 6,556,155 5,442,797
Net Incoming/(Outgoing) Resources 4 182,448 (83,181) 99,267 (59,689)
Fund balances brought forward
at 1 August 353,168 217,183 570,351 630,040
Fund Balances Carried 535,616 134,002 669,618 570,351
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 2023
Notes 2023 2022
£ £
FIXED ASSETS 11 124,839 209,321
CURRENT ASSETS
Debtors 12 2,174,992 1,770,016
Cash at bank and in hand 13 3,064,018 3,605,197
5,239,010 §,375;213
CREDITORS
Amounts falling due within one year 14 4,694,231 5,014,183
NETCURRENT ASSETS 544,779 361,030
NETASSETS 669,618 570,351
RESERVES 9
Restricted funds 134,002 217,183
Designated fund 190,000 90,000
General fund 345,616 263,168
669,618 570,351

These financial statements were approved and authorised for issue by the board of directors on Mf VY.Rc: and signed on its behalf by:

N MacDonald - Director

13

CITY OF SHEFFIELD THEATRE TRUST

STATEMENT OF CASH FLOWS

YEAR ENDED 31 JULY 2023

Notes 2023 2022
£ £
Cash flowfrom operating activities 5 (650,350) 1,902,252
Cash flowfrom investing activities
Capital expenditure (20,829) -
Bank Interest Received 130,000 -
Net cash flow from investing activities 109,171 -
Net increase in cash and cash equivalents (541,179) 1,902,252
Cash and cash equivalents at
1 August		 3,605,197 1,702,945
Cash and cash equivalents at 31 July 3,064,018 3,605,197
Cash and cash equivalents consists of:
Cashatbankandinhand 3,064,018 3,605,197

14

CITY OF SHEFFIELD THEATRE TRUST

NOTES ON ACCOUNTS

YEAR ENDED 31 JULY 2023

1a INCOME FROM DONATIONS AND LEGACIES 2023 2022
Unrestricted £ £
Donations & Gifts 2,967 -
Sheffield City Council Covid-19 support fund - 6,604
Total unrestricted 2,967 6,604
Restricted
Sheffield Lyceum Theatre Trust 20,829 -
Total restricted 20,829 -
Total 23,796 6,604
1b INCOME FROM INVESTMENT 2023 2022
Unrestricted 3 £
Bank Interest 130,000 -
2 INCOME FROM CHARITABLE ACTIVITIES 2023 2022
Unrestricted £ £
Ticket and related sales 6,476,626 5,351,504
3 STAFF PARTICULARS 2023 2022
Staffcosts comprised: £ £
Wages and salaries 1,117,074 1,007,051
Social security costs 88,332 70,413
Pension costs 69,508 61,441
1,274,914 1,138,905

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 employee received annual emoluments in excess of £60,000.

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 2023 YEAR ENDING 31 JULY 2023
4 NET INCOMING/(OUTGOING) RESOURCES 2023 2022
(a) This is stated after charging/(crediting): 7 £
Auditors’ remuneration as auditors 4,600 3,400
Depreciation 105,311 112,445
Bank Interest Receivable (130,000) -
Operating lease rentals:
Land & buildings 20,300 20,300
5 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITES
2023 2022
£ £
Net income/(expenditure) 99,267 (59,689)
Bank Interest Receivable (130,000) -
Depreciation 105,311 112,445
(Increase)/Decrease in debtors (404,976) 69,971
(Decrease)/Increase in creditors (319,952) 1,779,525
Net cash inflowfrom operating activities (650,350) 1,902,252
6 RESOURCES EXPENDED ON RAISING FUNDS
2023 2022
£ £
Fundraising = -
7 COST OF CHARITABLE ACTIVITIES 2023 2022
£ 2
Production Costs
Visiting companies fees and other costs 4,974,751 3,852,404
Indirect production consumables 1,042 558
Miscellaneous costs 1,862 471
Re-charge to co-producers and visiting companies (800,699) (646,226)
Hire costs . 46,469
Programme costs 18,013 11,813
Licence and subscriptions 401 846
4,195,370 3,266,335

16

CITY OF SHEFFIELD THEATRE TRUST

NOTES ON ACCOUNTS (continued)

YEAR ENDING 31 JULY 2023

7 COST OF CHARITABLE ACTIVITIES (continued)

COST OF CHARITABLE ACTIVITIES (continued)
2023 2022
Staff Costs £ £
Staffing costs 1,149,180 977,002
Training, recruitmentand other costs 8,319 7,209
1,157,499 984,211
Establishment Costs
Rent, rates and insurance 148,065 120,403
Heat and power 55,193 29,385
Electricity 104,713 94,857
Repairs and renewals 62,348 93,268
Waste disposal 8,677 5,466
Depreciation 104,010 111,145
483,006 454,524
Selling Costs
Publicity and advertising 336,515 349,904
Box office computer systems §2,155 38,065
Ticket printing 7,449 3,114
Miscellaneous selling costs 4,218 2,692
Credit card commission 88,549 87,224
Telephone, postage, stationery and photocopying 9,908 12,149
Travel and entertaining 2,787 219
501,581 493,367

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.

Support Costs
Staffing costs 125,734 161,903
Training, recruitment and other costs 21,984 13,135
Depreciation 1,301 1,300
Telephone, postage, stationery and photocopying 4,971 3,102
IT maintenance and peripherals 21,889 24,737
Travel and entertaining 8,793 2,950
Professional charges 4,479 12,558
Bank charges 4,100 4,706
Licence and subscriptions 14,283 12,096
Miscellaneous 6,565 4,473
214,099 240,960
Totalcostsofcharitableactivities 6,551,555 5,439,397

17

CITY OF SHEFFIELD THEATRE TRUST

NOTES ON ACCOUNTS (continued)

YEAR ENDING 31 JULY 2023

8 OTHER COSTS

2023 2022
£. £
Auditors remuneration —governance costs 4,600 3,400
9 RESERVES
At 1
August		 ;
Incoming		 ,
Outgoing		 At 31 July
2021 Resources Resources Transfers 2022
£ :. £ £ £
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
RESERVES
At 1
August		 Incoming ‘
Outgoing		 At31 July
2022 Resources Resources Transfers 2023
£ £ £ £ £
RESTRICTED
Capital Redevelopment Fund 217,183 20,829 104,010 - 134,002
Total Restricted Funds 217,183 20,829 104,010 - 134,002
UNRESTRICTED
Designated — major repairs 90,000 - - 100,000 190,000
General 263,168 6,634,593 6,452,145 (100,000) 345,616
Total Unrestricted Funds 353,168 6,634,593 6,452,145 - 535,616
TotalFunds 570,351 6,655,422 6,556,155 - 669,618

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 2023

10 ANALYSIS OF NET ASSETS BETWEEN FUNDS Previous year’s comparison

Previous year’s comparison
Unrestricted Restricted
funds funds Total
2022 2022 2022
£ £ £
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)
353,168 217,183 570,351
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted Restricted
funds funds Total
2023 2023 2023
3 £ £
Tangible fixed assets - 124,839 124,839
Current assets 5,229,847 9,163 5,239,010
Current liabilities (4,694,231) - (4,694,231)
535,616 134,002 669,618

19

CITY OF SHEFFIELD THEATRE TRUST

NOTES ON ACCOUNTS (continued)

YEAR ENDED 31 JULY 2023

11 FIXED ASSETS TANGIBLE
Land and
Buildings
Long		 Fixtures
and Fittings		 Plantand
Equipment		 Total
Leasehold
Cost £ £ £ £
At 1 August 2022 239,980 743,467 823,904 1,807,351
Additions - 20,829 - 20,829
At 31 July 2023 239,980 764,296 823,904 1,828,180
Depreciation
At1August 2022 195,344 742,166 660,520 1,598,030
Charge for the year 22,318 1,301 81,692 105,311
At 31 July 2023 217,662 743,467 742,212 1,703,341
Net book value
At 31 July 2023 22,318 20,829 81,692 124,839
At1August2022 44,636 1,301 163,384 209,321
12 DEBTORS
2023 2022
£ £
Due within one year:
Trade debtors 14,906 11,314
Amounts owed by group undertakings 1,056,532 621,844
Amountowed by parent company 1,042,415 1,082,260
Prepayments and accrued income 61,139 54,598
2,174,992 1,770,016
13 CASH AT BANK AND IN HAND
2023 2022
£ £
Cashatbankandinhand 3,064,018 3,605,197

20

CITY OF SHEFFIELD THEATRE TRUST

NOTES ON ACCOUNTS (continued)

YEAR ENDED 31 JULY 2023

14 CREDITORS — DUE WITHIN ONE YEAR

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|||||||| |---|---|---|---|---|---|---| |2023|2022| |£|£| |Amounts|falling|due|within|one|year:| |Trade|creditors|363,894|344,974| |Taxation|and|social|security|141,603|796,512| |Amounts|owed|to|fellow|subsidiaries|928,711|800,046| |Accruals|and|deferred|income|3,260,023|3,072,651| |4,694,231|5,014,183|

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)

15 TAXATION

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

16 FINANCIAL COMMITMENTS

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|||||||| |---|---|---|---|---|---|---| |2023|2022| |£|£| |Land|and|buildings| |Within|one|year|20,300|20,300| |Between|2|and|5|years|81,200|81,200| |Over|five|years|395,850|416,150|

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17 ULTIMATE CONTROLLING PARTY

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

18 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 wholly owned subsidiary companies.

Lease payments of £20,300 were made to the Lyceum Theatre Trust and management fees were received of £2,500. The City of Sheffield Theatre Trust holds a 35 year lease of the Lyceum theatre.

During the year, Sheffield Lyceum Theatre Trust contributed towards the provision of accessible toilets.

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MANAGEMENT INFORMATION A

CITY OF SHEFFIELD THEATRE TRUST

STATEMENT OF FINANCIAL ACTIVITIES MOVEMENT IN UNRESTRICTED FUNDS

YEAR ENDING 31 JULY 2023

2023 2022
2 £
INCOMING RESOURCES
Donations and Legacies
Revenue grants - general 2,967 6,604
2,967 6,604
Activities forgenerating funds
Management fees 25,000 25,000
Investment Income
Bank Interest 130,000 -
Incoming resources from charitable activities
Box office —own productions 219,567 236,084
Box office— visiting companies 5,622,081 4,255,033
5,841,648 4,491,117
Hire of premises 68,326 291,122
Programme income 61,300 31,211
Miscellaneous income 505,352 538,054
634,978 860,387
Total incoming resources from charitable activities 6,476,626 5,351,504
TOTALINCOMINGRESOURCES 6,634,593 5,383,108

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MANAGEMENT INFORMATION B

CITY OF SHEFFIELD THEATRE TRUST

STATEMENT OF FINANCIAL ACTIVITIES MOVEMENT IN UNRESTRICTED FUNDS

YEAR ENDING 31 JULY 2023

2023 2022
Direct Direct
Charitable Charitable
Expenditure Expenditure
£ £
RESOURCES EXPENDED
Costs ofgenerating voluntary income
Fundraising charges - -
Charitable activities
Sheffield Production Costs
Indirect production consumables 1,042 558
Miscellaneous 1,862 471
2,904 1,029
Visiting Companies Costs
Visiting companies fees 4,974,751 3,810,023
Other costs - 42,381
Recharge to coproducers and visiting companies (800,699) (646,226)
4,174,052 3,206,178
Hire costs - 46,469
Programme costs 18,013 11,813
Licence and subscriptions 401 846
Total Production Costs 4,192,466 3,265,306
Carriedforward 4,195,370 3,266,335

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MANAGEMENT INFORMATION C

CITY OF SHEFFIELD THEATRE TRUST

STATEMENT OF FINANCIAL ACTIVITIES MOVEMENT IN UNRESTRICTED FUNDS

YEAR ENDING 31 JULY 2023

2023 2022
Direct Direct
Charitable Other Charitable Other
Expenditure Expenditure Expenditure Expenditure
£ £ £ E
Brought Forward 4,195,370 - 3,266,335 -
Staff Costs
Wages and salaries 1,149,180 125,734 977,002 161,903
Staff training 1,000 3,542 1,250 7,534
Other staff costs 7,319 7,572 5,959 3,093
Staff recruitment - 10,870 - 2,509
1,157,499 147,718 984,211 175,038
Establishment costs
Rent, rates and insurance 148,065 - 120,403 -
Heat and power 55,193 - 29,385 -
Electricity 104,713 - 94,857 -
Repairs and renewals 62,348 - 93,268 -
Waste disposal 8,677 - 5,466 .
Depreciation - 1,301 - 1,300
378,996 1,301 343,379 1,300
Publicity and advertising 336,515 - 349,904 -
Box office and computer systems 52,155 - 38,065 -
Ticket printing 7,449 - 3,114 -
Miscellaneous selling costs 4,218 - 2,692 -
Credit card commissions 88,549 - 87,224 -
Telephone, postage, stationery and
photocopying		 9,908 7 12,149 s
Travel and entertaining 2,787 - 219 -
501,581 . 493,367 -
Carriedforward 6,233,446 149,019 5,087,292 176,338

24

CITY OF SHEFFIELD THEATRE TRUST

MANAGEMENT INFORMATION D

STATEMENT OF FINANCIAL ACTIVITIES MOVEMENT IN UNRESTRICTED FUNDS (Continued)

YEAR ENDING 31 JULY 2023

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||||||||| |---|---|---|---|---|---|---|---| |2023|2022| |Direct|Direct| |Charitable|Other|Charitable|Other| |Expenditure|Expenditure|Expenditure|Expenditure| |£|£|£|£| |Brought forward|6,233,446|149,019|5,087,292|176,338| |Administration|costs| |Stationery/photocopying|-|4,971|-|3,102| |IT|maintenance|&|peripherals|-|21,889|-|24,737| |Travel|and|entertaining|-|8,793|-|2,950| |Professional|charges|-|4,479|.|12,558| |Bank|charges|-|4,100|-|4,706| |Licence|and|subscriptions|-|14,283|-|12,096| |Miscellaneous|-|6,565|-|4,473| |-|65,080|=|64,622| |Governance|costs| |Audit|fee|-|4,600|-|3,400| |TOTAL|RESOURCES|EXPENDED|6,233,446|218,699|5,087,292|244,360| |2023|2022| |£|¥| |Total|incoming|resources|6,634,593|5,383,108| |Resources|expended| |Direct|charitable|expenditure|6,233,446|5,087,292| |Other|expenditure|218,699|244,360| |NET MOVEMENT|IN|UNRESTRICTED|FUNDS|182,448|51,456|

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CITY OF SHEFFIELD THEATRE TRUST

MANAGEMENT INFORMATION E

STATEMENT OF FINANCIAL ACTIVITIES MOVEMENT IN UNRESTRICTED FUNDS (Continued)

YEAR ENDING 31 JULY 2023

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||||||||| |---|---|---|---|---|---|---|---| |2023|2022| |£|£| |RESTRICTED|FUNDS|RECEIVED| |Sheffield|Lyceum|Theatre|Trust|20,829|-| |TOTAL|20,829|-| |RESTRICTED|FUNDS|EXPENDED| |Capital|Redevelopment| |TOTAL|(104,010)|(111,145)| |MOVEMENT|ON|RESTRICTED|FUNDS|BEFORE|TRANSFERS|(104,010)|(111,145)| |Exceptional|item|—|theatre|restoration|costs| |NET MOVEMENT|IN|FUNDS|(83,181)|(111,145)| |TOTAL|MOVEMENT ON|FUNDS|99,267|(59,689)|

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