Company registration number: 6308382 Charlty re£istratlon number: 1121284 CITY OF SHEFFIELD THEATRE TRUST IA company Ilmlted by guarantee) ANNUAL REPORT YEAR ENDED 31 JULY 2024
CITY OF SHEFFIELD THEATRE TRUST ANNUAL REPORT YEAR ENDED 31 JULY 2024 CONTENTS Pa8e Directors, Report and Strate8lc Report Statement of Trustees. Responsibilities Independent Audltors, Report Accounting Policles io Statement of Flnanclal Artlvitles Ilncludlng Income and Expenditure Account) 12 Balance Sheet 13 Statement of Cash Flows 14 Notes to the Flnanclal Statements 15-21
CITY OF SHEFFIELD THEATRE TRUST DIRECTORS. REPORT FOR THE YEAR ENDING 31 JULY 2024 The Trustees and Directors of the charltable company present their report along with the financial statements of the charity for the period ending 31 July 2024. The financial statements have been prepared In accordance wlth the accounting policies set out on page 10 of the flnancial statements and comply with the charitV'5 Mernorandum and Articles and applicable law. The trustees have adopted the provisions of the Statement of Recommended Pradice (SORPI "Accounting and Reporting by Charities" IFRS 1021 In preparing the annual report and financial statements of the charity. Legal and admlnlstratlon detalls Offlclal name of charity: Charfty reglstratlon number: City of Sheffield Theatre Trust 1121284 Company reglstratlon Trumber: 6308382 Reglstered Offlce; 55 Norfolk Street Sheffield SI IDA Dlre¢tor5 and Trustees; Mr James Garnett Ms Eleanor Lang Mr Nell Macoonald Ms Kirsten Major Ms Rosie Neave Mr Arun Singh Chlef Executlve: Tom Bird Bankers: Barclays Bank I St Paul's Place Norfolk Street Sheffield Sl 2JW Audltors: Hawsons Chartered Accountants Statutory Auditor Pegasus House 463a Glossop Road Sheffield SIO 2QD
CITY OF SHEFFIELD THEATRE TRUST DIRECTORS, REPORT FOR THE YEAR ENDING 31 JULY 2024 (continued) Structure, Governance and Management Governing document Clty of Sheffield Theatre Trust Limited {C05Th1 Is a company limited by guarantee governed by its Memorandum and Articles of Association dated 21 December 2011. It Is re8lsteied as a charity with the Charity Commission. Sheffield Theatres Trust Is the sole member of the organisation and it has 6 tf U5tees. Objects The primary obletts of the Charity specified in the Memorandum and Artlcles of Assoc5ation are the advancement ofthe arts and to educate the public in the art of drama In particular by the production, promotion, presentation and the management of plays, mlme, ballet, dance, 5ingin8, mu51c and any other artlStic works at The Lyceum Theatre and such other premlses of the Companv or elsewhere. Organlsatlon The board of trustees, which must have no fewer than 3 members, admlnisters the charity. The board meets twice a year and there are svb-committees covering finance and audit, human resources and trustee nominations which meet more regularly, A Chief Executlve is appolnted by the trustees to manage the day to day operatlons of the charlty. To facllltate effective operations, the Chief Executive has delegated authority. within terms of dele8ation approved by the trustees, for operational matters includin8 finance, employment and artistic performance related activity. Appolntment of trustees The six trustees are nominated by Sheffleld Theatres Trust. Trustee Inductlon and tralnln8 New trustees are invlted to the registered office of COSTT to meet with the Senloi Mana8ement Team to brief them on their legal obli8atlons under charlty and company law, the content of the Memorandum and Aftlcles of Associatlon, the committee and decislon-maklng procÈsses, the business plan and recent financial performance of the charlty. Publlc beneflt The board of trustees have complied with the duty In sectlon 4 of the Charities Act 2006 to have due re8ard to publlc beneflt guidance publlshed by the Commission. The charlty seeks to maximlse attendance and participation In Its actlvltles to ensure that audiences are drawn from every socio- economlc groups and age ranges. It does this by advertisin8 to the publlc through the media, print, social network and reachin8 out to the local communltv. Our accessible performances include the monthly Dementia Tea Dances. We continue to offer ticket5 at £5 under the Live for 5 scheme to everyone between the a8e of 16 and 26. Rlsk management The Trustees are commltted to the identification and fflanagement of the major 5trategl¢, business and operational risks which the charlty faces. A multl-function team of managers within the or8anlsatlon Is tasked wlth communicating with all levels of the or8anisatlon to Identify risk and re8ularly update a detailed risk reg15ter identlfytng likelihood and impact together with actions necessary to mitigate the rlsk. The principal risk relates to the cancellatlon of a guest production or failure of critical technlcal equlpment. These are typical rlsks in a presenting theatre and the trustees and senior mana8ement tearn are fully aware of these rlsks and monitor them regularly. Related parties City of Sheffield Theatre Trust, Sheffield Theatres Crucible Trust, Sheffleld Crucible Production5 Ltd, Offstage Ltd and Crucible Enterprises Ltd are all subsidiaries of Sheffield Theatres Trust.
CITY OF SHEFFIELD THEATRE TRUST DIRECTORS, REPORT FOR THE YEAR ENDING 31 JULY 2024 (continued) Objectlves and activitie5 The main objectives for the period are the promotion and fostering of artistic knowledge and the appreciation of the arts by the provlslon and future development of facilities for the education and entertainment of the public in the field5 of art, craft, music and drama. The strategles employed to achieve the charity's objectlves are to.. offer opportunities for a broad range of people to get involved in arts activity exploring their own creative powers: provide facilities for amateur and professional artists to develop. Groups in the city are given discounted rates for hire of space and acce55 to professional advice,. oncentrate on involvlng young people in the arts to help encourage a culture in whith different age ianges play a complimentary part. celebrate the diversity of cultures in our soclety by programming presentations by, and with, artists of different cultural backgrounds; present a broad ranBe of arts work. Strateglc Report The Trustees present their StrateBlc Report for the year ended 31 July 2024. Aehlevements and Performance In the Lyceum, we presented a fabulous and programme of the finest tourln8 work. The Season opened with the return of Sheffield's very own Llfe of Pl followlng Its Tony Award-wlnning stlnt on 8roadway. At Christmas, we continued our much-valued co-producing partnershlp wlth Evolution, on our pantomime, Beouty and the 8east This performed to audiences of over 53,000. Other hlghllghts included And Then There Were None. rhe Wlzord ol Oz; 2..22 A Ghost Story,. The Boy ot the Buck ol the Closs: The Kite Runner - as well as another returning Sheffield production, Everybody's Talklnq About Jamle. Over the year, we entertained audiences of over 250,000 Future Plans The programme continues to grow and develop to ensure we can fulfil our mlsslon and provlde entertainment to everyone, Hi8hli8hts for the year ahead include our Chrlstmas pantomirne, Snow White, along with an exciting array of productlons including Pretty Woman, Hair5prny, Art, Murder ol the Orlent Express and for our younger audiences, A Very Hunory Coterplllor and Room of the Broom. Flnanclal revlew The financial performance in 2023124 is a surplus of unrestricted funds of £36,96212023.' surplus £182,448). The hlgh level of cash balance is predominantly cash built up as customers begin to book in advance for productlons showing after the year end,
CITY OF SHEFFIELD THEATRE TRUST DIRECTORS, REPORT FOR THE PERIOD ENDING 31 JULY 2024 (continued) Investment powers and pollcy Under the Memorandum and Articles ofAssociation, the charity has the power to invest in any way the trustees wish. Reserves pollcy 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 11 listed buildin8, built in 1897 with a capacity of 1,068 and requiring a high level of upkeep, Certaln reserves have been designated for future unforeseen major repairs as set out in note 9. Nominated by Sheffield Theatres Trust Mr James Garnett Ms Eleanor Lang Mr Neil MacDonald Ms Kirsten Major Ms Rosie Neave Mr Arun Sin8h
CITY OF SHEFFIELD THEATRE TRUST DIRECTORS, REPORT FOR THE PERIOD ENDING 31 JULY 2024 Icontlnued) Constltutlon The company is a company limited by guarantee and not having a share capltal. Each member glves a guarantee to contrlbute a sum not exceeding £1 to the company should it be wound up. At 31 July 2024 there were 6 member5. statement of Trustees, Responslbllltles The trustees (who are also directors of City of Sheffield Theatre Trust for the purposes of company lawl are responslble for preparln8 the Trustees, Annual Report Ilncludln8 the Strateglc Report) and the financial statements in accordance with applicable law and Unlted KlngdDm Accountlng Standards Iunlted Klngdom Generally Accepted Accounting Practice). Company law require5 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 vlew of the state of affalrs of the charitable company and of the incoming resources and applicatlon of resources, Includln8 the Income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are requlred to: select suitable accountin8 policies and then apply them consistentlv: observe the methods and principles in the Charities SORP 2019 IFRS 102); make judgements and estimates that are reasonable and prudent. state whether appllcable UK Accountlng Standards have been followed; prepare the financial statements on the 8oin8 concern basls unless It Is Inapproprlate to presume that the charltable ¢ornpany will continue in operation. The trustees are responslble for keeplng adequate accountlng records thal dlsclose with reasonable accuracy at any tlme the finoncial position of the charitable company and enable them to ensure that the flnanclal staternents comply wlth the Companies Act 2006. They are also responsible for safeguarding the assets of the charltable company and hence for taklng reasonable steps for the prevention and detection of fraud and other irregularities. Statement of dlsclosure of Informatlon to audltors In so far as the trustees are aware.. there is no relevant audit information of which the charitable COmpanS auditors is unaware; and the trv5tee5 have taken all step5 that they ought to have taken to make themselves aware of any relevant audlt Informatlon and to establlsh that the audltor Is aware of that Information In approvlng the Trustee Annual Report, we also approve the Strateglc Report included thereln, In our ¢apacSty as companv dlrectors. Sl8ned on behalf of the board N MacDonald Ctty of Sheffield Theatre Trust Date: 22 202*
CITY OF SHEFFIELD THEATRE TRUST INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF CITY OF SHEFFIELD THEATRE TRUST Opinion We have audited the flnancial statements of City of Sheffleld Theatres Trust (the 'charitable companv) for the year ended 31 July 2024 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. includln8 a summary of s18nificant accountin8 policies, The financlal reportin8 framework that has been applled In their preparation is applicable law and United Kingdom Accounting Standards, Including Financial Reporting Standard 102 The Finonciol Reporting Standard appllcoble In the UK ond Republffc of Ireland Iunlted Kln8dom Generally Accepted Accountln8 Practlcel. In our oplnlon the flnancial statements: 81ve a true and fair view of the state of the charitable cofftpany's affairs as at 31 July 2024 and of its incoming reSoUrS and appllcatlon of resources, includlng Its Income and expenditure, for the year then ended; have been properly prepared Sn accordance wlth United Kingdom Generally Accepted Accountln8 Practice,. and have been prepared in accordance wlth the requirements of the Companles Act 2006. Basls for oplnlon We Conducted our audit in accordance wlth Internatlonal Standards on Auditing (UK) IISAS (UK)) and appllcable law. Our responsibilities under those standards are further described in the Audltorfs responsibilities for the audlt of the flnanclal statements section of our report. We are Independent of the charitable company In accordance with the ethical requirements that are relevant to our audlt of the financial Statements In the UK, Includin8 the FRC'S Ethlcal Standard, and we have fulfilled our other ethlcal responslblllties in accordance with these requlrements. We believe that the audlt evldence we have obtained is sufflclent and appropriate to provide a basls for our opinion. Concluslons relatln8 to golng concern In audltlng the flnanclal statement5, we have concluded that the trustees, use of the 8oln8 concern basis of accounting In Ihe preparation of the financlal statements is approprlate. Based on the work we have performed, we have not identified any materlal uncertainties relating to events or condltlons that, individually or collectively, may cast $18nlflcant doubt on the charltable company's ability to continue as a golng concern for a perlod of at least Iwelve months from when the flnancial statements are authorlsed for Issue, Our respon5ibllltles and the responslbilltles of the trustees With respect to 80ing concern are descrlbed in the relevant section5 of thls report. Other Infomiatlon The other Information comprises the information included in the trustees, annual report, other than the financlal statements and our auditor's report thereon. The trustees are responsible for the other information contalned within the annual report. Our opinion on the financlal statements does not cover the other informatlon and, except to the extent otherwise explicitly stated In our report, we do not express any form of assurance conclusion thereon. Our respon5ibllity Is to read the other Informatlon and. in doin8 $0, consider whether the other informatlon Is materially inconslstent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be mateiially misstated. If we identify such mateiial inconsi5tencles or apparent material misstatements, we are required to determine whether thls gives rise to a materlal misstatement in the rinanci31 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 thls regard.
CITY OF SHEFFIELD THEATRE TRUST INDEPENDENT AUDITORS, REPORTTO THE TRUSTEES OF CITY OF SHEFFIELD THEATRE TRUST (continued) Opinlons on other matters prescrlljed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the trustees. report lincorporatin8 the strategic report and the directors, report) for the financial year for which the financial statement5 are prepared 15 consistent with the financial 5tatement5,' and the strategic rÈport and the direttors. report have been prepared in accordance with applicable legal requirements. Matters on whlch we are requlred to report by exceptlon In the light of our knowledge and understandin8 of the charitable company and its envlronment obtalned In the course of the audit, we have not Identlfled materlal misstatÈmÈnts in the strategic report and the directors, repoit. We have nothing to report in respect of the followin8 matters in relation to which the Companies Act 2006 requires us to report to you if. in our opinion.. adequate accountin8 records have not been kept, or returns adequate for our audit have not been received from branches not vlslted by us; or the financial statements are not in agreement with the accounting records and returns,. or certain disclosures of dlrectors, remuneratlon specifled by law are not made,. or we have not received all the informotion and explanations we require for our audit. Responslbllltles 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 lawl are responsible for the preparation of the flnanclal statements and for being Satisfied that they give a true and fair view, and for such Internal control as the trustee5 determine Is necessary to enable the preparation of financial statements that are free from material mlsstatement, 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 usin8 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.
CITY OF SHEFFIELO THEATRE TRUST INOEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF CITY OF SHEFFIELD THEATRE TRUST (¢ontlnued) Audltor's responstbllltles for the audlt of the flnanclal statements Our objectlves are to obtain reasonable assurance about whether the financial statements as a whole are free from material mi5statement, whether due to fraud or error, and to issue an auditor's report that includes our opinlon. Reasonable assurance is a hi8h level of assurance, but is not a guarantee that an audit conducted in accordance wlth ISAS {UKI wlll always detect material misstatement when it exists. Mi55tatements can arise from fraud or error and are considered materlal if, Indlvldually or in the aggregate. they could reasonably be expected to influencè the economic decisions of user5 taken on the basis of these financial statement5, The extent to whlch our procedure5 are capable of detectlng Irregularltles, including fraud Is detailed below: The charltable company Is subject to laws and regulatlons that directly and Indlrectly affect the flnantial statÈmentg. Based on our understanding of the charity and the environment it operates wlthin, we determlned that the laws and re8ulations which were most sl8nificant included FRS 102 and the Cornpan•e5 Act 2CK16. We considered the extent to which non-compllance with these laws and regulatlons mlght have a material effect on the financial statements. includin8 how fraud mi8ht occur. We evaluated management's Incentives and opportunitie5 for fraudulent manipulation of the financial statement5 (including the risk of override ol controls), and determined that the principal risks were related to the postin8 of inappropriate journal entries to improve the charity's result for the perlod. and management blas In key accountin8 estimates. Audlt procedures performed by the en8a8ement team Included: Discussions with management and those responsible for legal cornpliance procedures within the charitable company to obtain an understanding of the legal and regulatory frarnework applicable to the charlty and how the charlty complies wlth that framework, includln8 consideratlon of known or suspected instances of non-compliance with law5 and regulations and fraud; Reviewing minutes of Trustee meetln8s,' Identifying and a55essin8 the desl8n effectlveness of controls that mana8ement has In place to prevent and detect fraud and non-compliance wlth laws and re8ulèt•ons; Challen6ln8 assumptions and Judgements made by management In their slgnlflcant accounting estlmates. Identifylng and testing journal entries. in particular any journal entries posted wlth unusual account comblnations or posted by senior management. A further description of our responslbilities ts available on the Financial Reporting Council's website at www.frc.org.uklauditors/audit-a55urance/auditor-s.responslbilltles-for-the-audit-of-the-fl/de5cription-of-the-auditor's- responsibilities-for. This description forms part of our audltor'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 audlt work ha5 been undertaken so that we might state to the charitable compan5 members those matters we are required to state to them in an auditorfs 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 companvs members as a body, for our audit work, for thi5 report, or for the opinion5 we have formed. Simon Bladen, Sensor StatutOryAudltor For and on behalf of Hawsons Chartered Accountants, Statutory Auditors Pegasus House 463a Glossop Road Sheffield SIO 2QD Date-
CITY OF SHEFFIELD THEATRE TRUST ACCOUNTING POLICIES The following accounting policies have been used consistently in dealing with items which are consldered materlal to the charitable company's affalrs. Statutory Inforniatlon City of Sheffield Theatre Trust is a charity (No. 1121284) and a company Ilmlted by guarantee (No 63083821 domiciled in En8land and Wales. The re8lStered office is at $5 Norfolk Street, Sheffield, Sl IDA. Accountln8 Conventlon The charlty constitutes a public benefit entity a5 defined by FRS 102. The financlal statements have been prepared in accordance with Accounting and Reportlng by Charities: Statement of Recommend Practlce appllcable to charities preparing their accounts In accordan with the Flnanclal Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Flnancial Reporting Standard appllcable In the United Kingdom and Republic of Ireland {FRS 102), the Companies Act 2006 and UK Generally Accepted Practlce. The presenlatlon currency is United Kln8dom pounds sterlin& which is the functlonal currency of the charity. The flnaneial statements have been prepared on a 8oln8 concern basls whlch assumes that the company wlll contlnue In operational exlstence for the foreseeable future. Incomlng Resources from Generated Funds Voluntary income primarlly represents grants recelvable. Revenue grants are reco8nised at fair value when the company has entitlement after any performance condition5 have been met, it 15 probable that the income will be recelved and the amount can be measured rellably. Grant5 to tlnance capital expendlture are credited to restrlcted funds usin8 the same ¢rlterla as revenue 8rarbts. Incomlng resources from charltable activities prlmarily represent tlcket sales and related fees for performances conducted in the year. Any tickets sold in advance are included In cash and deferred Income. Charltable Actlvltles Charitable activities Include expendlture assoclated with the staglng of shows and Indude both the dlrect costs and support costs relatlng to these activities. Other Costs Governan costs Include those Incurred In the 8overnance of the chaflty and its assets and are prlmarlly associated wlth constltutional and statutory requirements. Depreclatlon Fixtures and flltlngs- equlpment and furniture - These are depreciated In equal annual Instalments over their estlmated useful lives which ran8es from 3 to 10 years. Leases Renta15 payable under operatln8 leases are charged In the Statement of Flnancial Actlvltles in the year in whlch they are incurred. Reserve5 Restrlcted Funds - Amount5 recelved to finance capltal expenditure or where a donor specifies the precise purpose for whlch the amounts donated must be used are credlted 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 (contlnued) Desl8nated Funds Amounts that have been specified by Trustees to be used for a particular purposÈ are credited to Designated Funds. This includes a slnking fund for unplanned rnajor building repairs. Unrestrlcted Funds- These are reserves not designated or restricted for a special purpose. These are available at the discretion of the Trustees for such purposes as the Theatre may require. The Trustees, aim is to maintain sufficient unrestricted reserves to safeguard the financial viability of the Company. Goln8 concern After due consideration of all relevant factors the company'5 income and cash flow forecasts and projectlons 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 ha5 adequate resources to continue Sn operational existence for the foreseeable future. Accordlngly, they continue to adopt the going concern basis in preparing the flnancial statements. 11
CITY OF SHEFFIELD THEATRE TRUST STATEMENT OF FINANCIAL ACTIVITIES IINCLUOING INCOME ANO EXPENDITURE ACCOUNT) YEAR ENDED 31 JULY 2024 Unrestrlcted Restrlcted 2024 2023 Notes Funds Funds Total Total Incomln8 resources Incoming resource5 from generated funds: Donations and legacles Other tradin8 activities Investment income 30,1N)O 25.WO 337,500 30,000 25.000 337,500 23,796 25,000 130,000 Incoming resoufces from charltable activities 6,453,661 6,453,661 6,476,626 Total Incomln8 resources 6,846.161 6.846,161 6.655,422 Resources empended Raising funds Charltable activities 6,804,399 4,800 6,809,199 108,175 6,912,574 4,800 6,917,374 6,551,555 4.600 6,556,155 Other Total resour¢•s expend•d 108,175 Net Incomln8lqOut8olnsl Resources 36,962 (108,175) 171,2131 99,267 Fund Balances brought forward at l August Fund 8alances Carrled Forward at 31 Julv 535,616 572,578 134,002 25,827 669,618 598,405 570,351 669,618 There are no recogni5ed gain5 and1055es other than the results for the year Set out above. There is no different between the amounts stated above and their historical cost equivalent5, There were no discontinued operations. 12
CITY OF SHEFFIELD THEATRE TRUST COMPANY REGISTRATION NU MBER: 6308382 BALANCE SHEET AS AT 31 JULY 2024 Notes 2024 2023 FIXED ASSETS li 16,664 124.839 CURRENT Assrrs Debtors Cash at bank and In hand 12 773,880 5,211,041 5,984,921 2,174,992 3,064,018 5,239,010 13 CREDITORS Amounts falllng due wlthln one year 14 15,403,180) {4,694,2311 NEf CURRENT A55ET5 581,741 544,779 NET ASSETS 598,405 669,618 RESERVES Restricted funds Designated fund General Fund 25.827 228,150 344,428 598,405 134,002 I,000 345,616 669,618 21 102 These financlal statements were approved and authorlsed for Issue by the board of dlrectors on ,........,............... . and s18ned on It5 behalf bv: N MacDonald - Dlrector 13
CITY OF SHEFFIELD THEATRE TRUST STATEMENT OF CASH FLOWS YEAR ENDED 31 JULY 2024 Notes 2024 2023 Cash flow from operatlng actlvltles 1,809,523 1650,3501 Cash flow from Investln8 actlvltles Capttal expendlture 8ank Inte$t received 120.829) 130,000 109,171 337,5iX) 337,5¢X) Net cash flow from Investln8 actlvltles Net Increaselldecrease) In cash and cash equlvalents 2.147,023 1541,1791 Cash and cash equivalents at l August 3,064,018 3,605,197 Cash and cash equlvalents at 31 July S,211,041 3,064,018 Cash and ca$h equlvalents conslsts ofr. Cash at bank and in hand 5,211,041 3,064,018 14
CITY OF SHEFFIELD THEATRE TRUST NOTES ON ACCOUNTS YEAR ENDED 31 JULY 2024 la INCOME FROM DONATIONS AND LEGACIES 2024 2023 Unrestrlcted Donations & Glfts 2.967 Sheffield Lyceum Theatre Trust Total unrestrlcted 30,000 30,000 2,967 Restrlcted Sheffield Lyceum Theatre Trust 20.829 Tolal 30,000 23,796 Ib INCOME FROM INVESTMENT 2024 2023 Unrestrlcted Bank Interest 337,500 130,0 2 INCOME FROM CHARITABLE ACTIVITIES 2024 2023 Unrestrlcted Ticket and re13ted sales 6,453.661 6.476.626 3 STAFF PARTICULARS 2024 2023 Staff costs comprised: Wage5 and Salaries Social security costs Pension costs 1,342,110 111,646 90.530 1,544,286 1,117,074 88,332 69.508 1,274,914 All staff have contracts of employment wlth Sheffleld Theatres Trust and are recharged by that company to City of sheffield Theatre Trust. Remuneration of key management pefsonnells disclosed in Sheffield Theatres Trust. No staff received annual emoluments in excess of £60,0W. No remuneratSon or expenses were paid during the year to any directors ofthe company. 15
CITY OF SHEFFIELD THEATRE TRUST NOTES ON ACCOUNTS Icontlnued) YEAR ENDING 31 JULY 2024 4 NET INCOMING/IOUTGOING) RESOURCES 2024 2023 lal Thls Ss stated after char8in8/{creditingl- Auditors, remuneration as audltors 4,800 108.175 1337,500) 4.600 105,311 1130,0001 Depreclation Bank interest recelvable Operating lease rentals.. Land & bulldin8S 20,300 20,300 5 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net lexpenditurel/lncome Bank Interest receivable Oepreciation Oeereasellincreasel in debtors Increaselldecrease) in creditor5 Net cash Inflow/loutflowl from operatin8 activities (71,2131 1337,5001 108,175 1,401,112 708,949 1,809,523 99.267 (130,000) 105,311 1404,976) 1319,952) 1650,350} 6 RESOURCES EXPENDED ON RAISING FUNDS 2024 1023 Fundralsln8 7 COST OF CHARITA8LE ACTIVITIES 2024 2023 Productlon Costs Visitin8 companles fees and other costs Indirect production consumables Miscellaneous costs Re-charge to co-producers and visiting companies Programme costs Llcence and subscriptions 4,865,705 963 4,974,751 1.042 1,862 {800,6991 18,013 401 1.779 (713,999) 19.383 405 4.174,236 4,195,370 Staff Costs staffing costs Trainlng, recruitment and other costs 1,417,697 9,801 1,427,498 1,149,180 8,319 1,157,499 16
CITY OF SHEFFIELD THEATRE TRUST NOTES ON ACCOUNTS {contlnued) YEAR ENDING 31 JUIY 2024 7 COST OF CHARITABLE ACTIVITIES (contlnued) 2024 2023 Establlshment Costs Rent. rates and insurance Heat and power Electricity Repairs and renewals Waste di5PQsal Depreciation 147,950 14.335 114,654 166,475 10,584 108,175 562,173 148,065 55.193 104,713 62,348 8,677 104,010 483,006 Selllns Costs Publicity and advertlslng Box office computer systems Tlcket prlntin8 Miscellaneous selling cost5 Credit card commission Telephone, postage, statlonery and photocopying Travel and entertalnin8 352,572 70,501 336,515 52,155 7,449 4,218 88,549 9,908 2,787 501.581 5,053 96,775 13.381 1,644 539.926 The company initially Identifles the c05t5 of its support function5 which relate solely to the overall objective of produclng varied ran8e of performances, Governance costs are Identif led separately and are included in other costs as detailed in note 8. Support C05ts Staffing costs Tralnln8, recrultment and other c05ts Depreciation Telephone. postage. stationery and photocopyin8 IT maintenance and periphera15 Travel and entertaining Professional charges Bank charges Llcence and subscription5 Miscellaneou5 126,589 24,702 125.734 21,984 1.301 4,971 21,889 8,793 4,479 4,100 14,283 6.565 214,099 1,891 15,589 8,318 8,823 4.742 15,417 2,670 208,741 Total costs of charitable activities 6.912.574 6,551,555
CITY OF SHEFFIELD THEATRE TRUST NOTES ON ACCOUNTS (continued) YEAR ENOING 31 JULY 2024 8 OTHER COSTS 2024 2023 Auditors remuneration- governance costs 4,800 4,600 g RESERVE5 At l August 2022 Incomln8 Resources Out8oln8 Resources At 31 July 2023 Transfer5 RESTRICTEO Capital Redevelopment Fund Total Restrlcled Funds 217,183 217,183 20,829 20,829 104,010 104,010 134,002 134,002 UNRESTRICTED Degnated - major repalrs General Total Unrestrirted Funds 90,(K)O 263,168 353,168 190.000 345,616 535,616 6,634,593 6,634,593 6,452, 145 6,452,145 iioo,0001 Total Funds 570,351 6.655.422 6.556,155 669.618 At I Au8USt 2023 In¢omln8 R•sourcos Out8olng Resourc•s Transfers At 31 Julv 2024 RESTRICTED Capital Redevelopment Fund Total Restrlcted Funds 134,002 134,002 108,175 108,175 25,827 25A27 UNRESTRICTED Desi8nated . major repalrs General Total Unrestrlcted Funds 190,000 345,616 535.616 11.850 6,797,349 6,809,199 50,000 (50,0001 228,150 344,428 572,578 6,846,161 6A46.161 Total Funds 669,618 6,846.161 6.917.374 598.405 The capital redevelopment fund 15 for the redevelopment work on the Lyceurn Theatre. The desl8nated fund for major repairs and renewals is a s•nkin8 fund for unplanned major repairs, investment into new equipment or the refurbishment of the theatre. 18
CITY OF SHEFFIELD THEATRE TRUST NOTES ON ACCOUNTS (contlnued) YEAR ENDING 31 JULY 2024 10 ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestrlcted Funds Restrlcted Funds Total 2023 2023 2023 Tanglble f ixed assets Current assets 124,839 9.163 124.839 5,239,010 14,694,231) 669,618 5.229.847 14,694,231) 535,616 Current liabilities I34,2 Unre5trlcted Funds Re51rlrted Funds Total 2024 2024 2024 Tangible fixed a55ets Current assets 16,664 9,163 16,664 5.984,921 15,403,180) 598,405 5,975,758 {5.403.180) 572,578 Current liabilities 25,827 19
CITY OF SHEFFIELD THEATRE TRUST NOTES ON ACCOUNTS (continued) YEAR ENDED 31 JULY 2024 11 FIXED ASSETS TANGIBLE Land and Buildings Lon8 Leasehold Fixtures and Flttln8S Plant and Equlpment Total Cost At l August 2023 Additions 239,980 764,296 823,904 1,828,180 Disposals At 31 July 2024 239.980 764.296 823.904 1,828,180 De reclation At l August 2023 Charge for the year Oisposals At 31 July 2024 217,662 22,318 743,467 4,165 742,212 81.692 1,703,341 108,175 239,980 747,632 823,904 1,811,516 Net 8ook Value At 31July 2024 16.664 16.664 At l August 2023 22,318 20,829 81,692 124,839 12 DEBTORS- DUE WITHIN ONE YEAR 2024 2023 Trade debtors Amounts owed by fellow subsldlarles Amount owed by parent company Prepayments and accrued income 92.059 14.906 1,056,532 1,042,415 61.139 2,174.992 367,023 314.798 773,880 13 CASH AT BANK AND IN HAND 2024 2023 Cash at bank and In hand 5,211,041 3.064.018 20
CITY OF SHEFFIELD THEATRE TRUST NOTES ON ACCOUNTS (contlnuedl YEAR ENDED 31 JULY 2024 14 CREDITORS- DUE WITHIN ONE YEAR 2024 20Z3 Trade creditors Other creditors 349,730 96,414 17,023 363,894 Taxation and social security Amounts owed to fellow subsidiaries Accruals and deferred income 141,603 928,711 3,260,023 4,694,231 4,940,013 5,403,180 15 TAXATION The company is a registered charity and as such is not normally Ilable to corporation tax. 16 FINANCIAL COMMITMENTS 2024 2023 Land and bulldin8$ Within one year Between 2 and 5 years Over five years 20,3 81,200 375,550 20.300 81,200 395.850 17 ULTIMATÉ CONTROLLING PARTY The ultimate controlllng party is Sheffield Theatres Trust, a registered charity. 18 TRANSACTIONS WITH RELATED PARTIES In accordance with FRS 102 paragraph 33.IA the company has taken advantage of the exemptlon from disclosing transactions wlth its parent company and its fellow wholly owned subsidiary companles. Lease payment5 of £20,300 were made to the Lyceum Theatre Trust and mana8emÈnt fees were rÈceived of E2.500. The City ol Sheffield Theatre Trust hold5 a 35 year lease of the Lyceum Theatre. Ouring the year, Sheffleld Lyceum Theatre Trust contributed £30,000 towards the repair5 of the Mercury Statue on the bullding and some other building works and repairs. 21