2023-03-31-accounts - The Park Theatre

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Reference and administrative information	.	I
Chair's Report Trustees' annual report Independent auditor's report Consolidated statement offinancial activities		3 .4 18 23
Balance Sheets		..24
Consolidated statement ofcash flows.		25
Notes to the financial statements ..		..26

Trustees		Trustees, who are also directors under company	law, who served	during
		the year and up to the date ofthis report were as	follows:
		Anthony Clare [Chair]
		Ibukun Alamutu (appointed 13September 2022)
		Professor Kurt Barling
		Hedda Beeby
		Andrew Cleland-Bogle (resigned 21 February 2023)
		Jonathan Edwards
		Kathleen Heycock (appointed 5 September 2023)
		Bharat Mehta
		Rufus Olins
		Jo Parker (resigned 13September 2022)
		Victoria Phillips [Vice chair]
		Joseph Smith (appointed 13September 2022)
		Julia Tyrrell
Key management personnel		Jez Bond, Artistic Director & CEO Lucy Perman, Interim Executive Director (resigned 14 May 2022) Vicky Hawkins, Executive Director, (16 May 2022-28 April 2023) Catherine McKinney, Executive Director (appointed 11 September		2023)
Founding	Benefactor	Jeremy Bond (1939-2020)

Registered		information
Registered		Charity name	The Park Theatre (also	known as		Park Theatre)
Company	number		07091161 —incorporated		in the	United	Kingdom
Charity number			1137223 —registered	in	England	and Wales
Registered		office and	11-13Clifton Terrace
operational		address	Finsbury Park
			London
			N4 3JP
Professional		advisors
Bankers			CAF Bank
			Charities Aid Foundation
			25 Kings Hill Avenue
			Kings Hill
			West Mailing
			Kent
			ME19 4JQ
Auditors			Wenn Townsend
			30 St Giles
			Oxford
			OX1 3LE

		Unrestricted	funds		Restricted	2023	2022
		General	Designated		funds	Total	Total
	Note			f	f	f	f
Income from:
Donations and legacies		334,899			146,019	480,918	941,772
Charitable activities		1,027,708				1,027,708	822,827
Other trading activities		435,665				435,665	243,345
Total income		1,798,272			146,019	1,944,291	2,007,944
Expenditure on: Raising funds Charitable activities		654,235 1,570,563	82,71	5	178,878	654,235 1,832,156	487,431 1,281,726
Total expenditure		2,224, 798	82,71	5	I78,878	2,486,391	1,769, 157
Net income /
(expenditure) for the 'year		(426,526)	(82,715)		(32,859)	(542,100)	238,787
Theatre Tax Relief		180,269				180,269	47,197
Transfers between
funds	16	(22,277)	22,276
Net movement In funds		(268,534)	(60,439)		(32,859)	(361,831)	285,984
Reconciliation of
funds:
Total funds brought forward		1,221,599	1,383,525		37,858	2,642,982	2,356,998
Total funds carried
forward		953„065	1,323„D86		5,000	2,281,151	2,642, 982

				Group		Charity
				2023	2022	2023	2022
			Note		f	f	f
Fixed assets
Tangible assets Investments			10 11	1,407,106	1,490,399	1,407,106 2	1,483,732 2
				1,407,106	1,490,399	1,407,108	1,483,734
Current assets
Stock Debtors Cash at bank and	in	hand	12 13	7,741 726,183 1,035,867	3,755 401,871 1,242,982	564,021 978,007	527,735 1,166,227
				1,769,791	1,648,608	1,542,028	1,693,962
Liabilities
Creditors: amounts due within one year		falling	14	(895,746)	(496,025)	(625,943)	(479,517)
Net current assets				874,045	1,152,583	916,085	1,214,445
Total net assets			15a	2,281,151	2,642,982	2,323,193	2,698,179
Funds Restricted income	funds		16	5,000	37.859	5,000	37,859
Unrestricted income funds: Designated funds General funds				1,323,086 995.109	1,383,525 1,276,796	1,323,085 995,108	1,383,525 1,276,795
Non-charitable funds	trading			(42,044)	(55,198)
Total unrestricted funds				2,281,151	2,605, 124	2,318,193	2,660,320
Total funds				2,281,151	2,642,982	2,323,193	2,698,179


					f
Net income / (expenditure)	for the period				(361,831)		285,984
(as per the statement of financial Depreciation charges Increase in stocks		activities)			110,426 (3,986)		112,501 (3,755)
Decrease in debtors					(324,312)		(166,407)
Increase in creditors					399,721		239,395
Net cash provided by operating		activities				(I 79,982)		467,718
Cash flows from investing	activities:
Dividends, interest and rents from		investments
Transfer offixed assets					6,667
Purchase offixed assets					(33,800)		(I54,554)
Net cash used in investing	activities					(27,133)		(I54,554)
Change in cash and cash	equivalents		in the year			(207,115)		313,164
Cash and cash equivalents year	at the	beginning		of the		1,242, 982		929,818
Cash and cash equivalents	at the end		of	the year		1,035,867		1,242,982

2. Income from donations	2. Income from donations	and legacies
			2023			2022
	Unrestricted f	Restricted E	Total f	Unrestricted f	Restricted f	Total
Gifts Subscriptions Grants	282,909 31,990 20,000	146,019	282,909 31,990 166,019	135,020 33,966 165,334	607,452	135,020 33,966 772,786
	334,899	146,019	480,918	334,320	607,452	941,772

Income from charitab	le activities
			2023			2022
	Unrestricted f	Restricted f	Total f	Unrestricted f	Restricted f	Total f
Boxoffice Workshop	734,544 20,797		734,544 20,797	655,725 10,392		655,725 10,392
Corporate sponsorship Other Theatre rental	12,561 8,434 228,132		12,561 8,434 228,132	31,654 120,231		31,654 120,231
Recharged Expenses	23,240		23,240	4,825		4,825
Total income from charitable activities	1,027,708		1,027,708	822,827		822,827

ncome fro	m other trading activities
		2023	2022
		Totalf	Totalf
Cafe bar Production	company	373,093 62,572	181,200 62,145
		435,665	243,345

	Raising funds f	Charitable activities f	Governance cosTs f	Support cosTs f	2023 Total f	2022 Totalf
Staff costs (Note 7) Production costs Premises costs Fundraising costs Advertising and marketing Insurance Travelling and entertainment Office and internet Licence fees Sundry BoxoFfice costs Professional fees Bank charges Audit and accountancy Cafe bar Irrecoverable VAT Depreciation	328,452 16,990 965 1,771 430 141,952	582,695 627,029 8,495 109,969 1,771 43,835	32,076 I 3,500	200,476 144,412 19,406 16,496 33,056 810 2 6,483 430 15,772 28,689 110,426	1,143,698 627,029 169,897 965 129,375 16,496 3,542 33,056 810 3 43,835 6,483 864 I3,500 157,724 28,689 110,426	899,686 278,828 127,005 114 121,366 7,860 1,316 44,157 823 2,601 48,645 7,731 723 11,680 72,340 31,782 112,501
	490,561	1,373,794	45,576	576,460	2,486,391	1,769,157
Support costs	148,062	414,642	13,756	(576,460)
Governance costs	15,612	43,720	(59,332)
Total expenditure 2023	654,235	1,832,156				2,486,391
Total expenditure 2022	487,430	1,281,729				1,769,157

5. b)Analysis ofexpenditure	(prior year)
	Raising funds f	Charitable activities f	Governance costs f	Support costs f	2022 Total f
Staff costs (Note 7) Production costs	254,148	445,202 278,827	27,632	I72,704	899,686 278,827
Premises costs Fundraising costs Advertising and marketing Insurance Travelling and entertainment Office and internet Licence fees Sundry Box office costs Professional fees Bank charges Audit and accountancy Cafe bar Irrecoverable VAT	I2,701 114 658 650 361 67,107	6,350 103,161 658 48,645	11,680	107,954 I8,205 7,860 44, 157 823 1,951 7,731 362 5,233 31,782	127,005 114 I21,366 7,860 1,316 44,157 823 2,601 48,645 7,731 723 11,680 72,340 31,782
Corporation tax charge Depreciation				112,501	112,501
	335,739	882,843	39,312	511,263	1,769,157
Support costs	136,459	358,826	I5,978	(511,263)
Governance costs	15,233	40,057	(55,290)
Total expenditure 2022	487,431	1,281,726			1,769,157
Total expenditure 2021	278,581	907,689			1,186,270

6.	Net income/(expenditure)	for the year	for the year
This is stated after charging/(crediting):
						2023	2022
						Totalf	Totalf
Depreciation						110,426	112,501
Operating lease rentals: Property						29,994	26,249
	Other
Auditors' remuneration (excluding		VAT):
	Audit					11,500	10,650
7.	Staff costs
	Staff costs were as follows:					2023	2022
						f	f
	Salaries and wages Redundancy and termination costs Social security costs Employer's contribution to defined Other staff costs		contribution	pension	schemes	1,012,877 14,594 75,272 19,013 21,943	788,972 51,494 13,966 45,255
						1143699	899.681

in 2023/202	4 and the amount	s held at ye	ar en	d in deferred	income at the year	end is f5 655 (2022	fnil).
The charity	had the following	transactions	with	its subsidiary	companies during	the year:
				Park Theatre Cafe Bar		Park	Theatre
					Limited	Productions	Limited
				2023	2022	2023	2022
					f	f
Income during the year Expenditure during the year				51,000	I7,200	183,074	99,342
Balance receivable at the year end				(84,848)	(118,455)	(18,42I)	(40,107)

				2023	2022
				Totalf	Total f
UK Corporation		Tax credit		199,299	47 197
Income from	UK	Corporation	Tax relates to a credit for Theatre Tax Relief.

0.Tangible fixed assets
The group	Long term leasehold	Fixtures encl	Office
	property f	fittings f	equipment f	Total f
Cost At the start ofthe year Additions in year Transfer to prepayments	2,044,429 22,276	352,544 10,540	75,053 984 (8,890)	2,472,026 33,801 (8,890)
At the end ofthe year	2,066,705	363,084	67,147	2,499,936
Depreciation At the start ofthe year Charge for the year Transfer to prepayments	660,904 82,715	265,508 22,779	55,215 4,932 (2,22 3)	981,627 110,426 (2,223)
At the end of the year	743,619	288,287	57,924	1,089,830
Net book value At the end ofthe year	1,323,086	74,797	9,223	1,407,106
At the start of the year	1,383,525	87,036	19,838	1,490,399
The charity	Long term leasehold	Fixtures and	Office
	property f	fittings f	equipment f	Total f
Cost At the start ofthe year Additions in year Transfer to prepayments	2,044,429 22,276	352,544 10,540	75,053 984 (8,890)	2,472,026 33,800 (8,890)
At the end of the year	2,066,705	363,084	67,147	2,496,936
Depreciation At the start ofthe year Charge for the year Transfer to prepayments	660,904 82,715	265,508 22,779	52,992 4,932 (2,223)	981,627 110,426 (2,223)
At the end of the year	743,619	288,287	57,924	1,089,830
Net book value At the end ofthe year	1,323,086	74,797	9,223	1,407,106
At the start of the year	1,383,525	87,036	19,838	1,490,399

The 2023	group	2022	The 2023	charity	2022
		E	E

Investments	in subsidiary
companies	at cost

				Park Theatre	Cafe Bar	Park Theatre	Productions
					Limited		Limited
				2023	2022	2023	2022
				E	E	E	E
Turnover Cost of sales				378,089 (I32,454)	181,200 (57,459)	877,055 (697,830)	401,816 (355,915)
Gross profit/(loss)				245,635	123,741	179,225	45,901
Administrative expenses Bank interest				(232,480)	(119,757)	(629) 1	(836) I
Profit/(loss)	on ordinary	activities		13,155	3,984	178,597	45,066
Distribution	to parent under		gift aid			(178,597)	(4,437)
Reverse Taxation
Profit/(loss)	for the financial		year	13,155	3,984		40,629
The aggregate ofthe assets,
liabilities and funds was:
Assets Liabilities				13,155	(2,800)		8 512
Funds				13,155	(55,197)

mounts owed to/fr 2. Stock	om	n in note 13and 14.	n in note 13and 14.
		The group		The	charity
		2023	2022	2023	2022
		E	E
Finished goods		7,741	3,755
		7,741	3,755
3. Debtors
		The group 2023 2022		The 2023	charity 2022
		E	E
Amounts owed to group undertakings Trade debtors Prepayments and accrued income VAT debtor		98,640 576,169 34,491	52,018 265,531 51,508	66,427 97,224 343,680 39,807	158,564 52,018 225,036 59,304
Other debtors		16,883	32,813	16,883	32,813
		726,183	401,871	564,021	527,735
reditors: amounts	falling due within one year
		The group 2023	2022	The charity 2023 2022
			E	E	E
Amounts owed to group undertakings Trade creditors Taxation and social security Other creditors Accruals and deferred income		72,939 17,909 283,664 521,234	100,984 16,804 16,200 362,037	56,734 17,909 283,301 267,999	91,713 16,804 15,946 355,054
		895,746	496,025	625,943	479,517

15.a)Analysis of group net assets betw	een funds (current year)
	General
	unrestricte d	Designate d funds f	Restricted fundsf	Total funds
Tangible fixed assets Net current assets	84,020 869,045	1,323,086	5,000	1 407 106 874,045
Net assets at 31 March 2023	953,065	1,323,086	5000	2281 151
b) Analysis ofgroup net assets between funds (Prior year)
	General unrestrictedf	Designated fundsf	Restricted fundsf	Total funds f.
Tangible fixed assets Net current assets	106,874 1,114,725	1,383,525	37,858	1,490,399 1,152,583
Net assets at 31 March 2022	1,221,599	1,383,525	37,858	2,642,982

6.Movements in Funds (Curren	t year)
					At 31
	At I April 2022	Income & gains	Expenditure &losses	Transfers	March 2023
	f		f	f	f
Restricted funds:
ACE - Emergency Recovery Fund		37,500	(37,500)
Alex Sweet &Jenny Berrisford		8,000	(8,000)
Annual Fund		591	(591)
Backstage Trust		23,741	(23,741)
Bridge House Charities Chapman Charitable Trust		9,050 2,000	(9,050) (2,000)
City Bridge -Access Programme	4,524		(4,525)
City of London —Inflationary pressures Cockayne Foundation		1,810 5,000	(1,810)		5,000
Cripplegate Foundation		7,580	(7,580)
Deirdra Moynihan
Garfield Weston Foundation	33,334		(33,334)
Kickstart Access Media CIC		8,533	(8,533)
Lord & Lady Lurgan Charitable Trust		1,500	(1,500)
Mackintosh Foundation		2,000	(2,000)
Ron Jacob		650	(650)
Robert Timms		10,000	(I0,000)
S&C Makin		7,500	(7,500)
Scops Arts Trust		15,000	(I 5,000)
Tesco Groundworks		500	(500)
Victoria Wood Foundation Unknown		4,980 84	(4,980) ~84
Total restricted funds	37,858	146,019	(178,878)		5,000
Unrestricted funds:
Designated funds: Property fund	1,383,525		(82,715)	22,276	1,323,086
Total designated funds	1,383,525		(82,715)	22,276	1,323,086
General funds	1,276,797	723,397	(982,808)	(22,277)	995,109
Non-charitable trading funds	(55,198)	1,255,144	(1,241,990)		(42,044)
Total unrestricted funds	2,605,122	1,978,541	(2,307,513)	(I)	2,276, 151
Pension fund
Total funds	2,642,982	2,124,560	(2,486,391)		2,281,151

16.Movements in funds	(Prior	year)
						At 31
		At 1 Apnl 2021	Income & gains	Expenditure &losses	Transfers	March 2022
			E			E
Restricted funds:
ACE - Cultural Recovery Fund			212,500	(212,500)
ACE - Emergency Recovery Fund			200,000	(200,000)
Alex Sweet &Jenny Berrisford			8,000	(8,000)
Annual Fund Chapman Charitable Trust			3,901 2,000	(3,901) (2,000)
City Bridge -Access Programme Claire &Scott Mackin		4,375	13,575 10,000	(13,425) (I0,000)		4,525
Deirdra Moynihan			1,000	(1,000)
D'Oyle Carte Charitable Trust			4,000	(4,000)
DWP Resource Management Garfield Weston Foundation			10,319 40,000	(10,319) (6,666)		33,334
Kickstart Access Media CIC			12,358	(12,358)
Lady Brittan Anonymous			1,000 5,000	(1,000) (5,000)
Maria Bjornson Memorial			5,000	(5,000)
Mercer's Charitable Foundation		5000		(5,000)
National Lottery Noel Coward Grant		12,000	11,300 1,370	(23,300) 1,370
Robert Timms			10,000	(I0,000)
Ron Jacob		7,000	1,150	(8,150)
Simon Godwin			50,000	(50,000)
Victoria Wood Foundation			4,980	(4 980)
Total restricted funds		28,375	607,453	(597,969)		37,859
Unrestricted funds:
Designated funds: Property fund		1,401,245		(83,762)	66,042	1,383,525
Total designated funds		1,401,245		(83,762)	66,042	1,383,525
General funds Non-charitable trading	funds	1,027,192 (99,811)	864,669 583,017	(549,024) (538,404)	(66,042)	1,276,795 (55,198)
Total unrestricted funds		2,328,626	1,447,686	(1,171,190)		2,605,122
Pension fund
Total funds		2,357,001	2,055,139	(1,769,159)		2,642,981

		Property		Equipment
		2023	2022	2023	2022
		E	E	E	f
Less	than one year	25,000	28,427	6,667
One	to five years	100,000	113,708
Over	five years	218,758	284,271
		343,758	426,406	6,667

omparative Statement offinancial	activities
	Unrestricted	funds		Restricted	2022
	General f	Designated f		funds f	Total f
Income from: Donations and legacies Charitable activities Other trading activities	334,320 822,827 243,345			607,452	941,772 822,827 243,345
Total income	1,400,492			607,452	2,007,944
Expenditure on: Raising funds Charitable activities	487,431 599,995		83,762	597,969	487,431 1,281,726
Total expenditure	I 087 426		83,762	597,969	1,769,157
Net income / (expenditure) for the year	313,066		(83,762)	9,483	238,787
Theatre Tax Relief	47,197				47,197
Transfers between funds	(66,042)		66,042
Net movement in funds
	294,221		(17,720)	9,483	285,984
Reconciliation offunds:
Total funds brought forward	927,378	1,401,245		28,375	2,356,998
Total funds carried forward	1,221,599	1,383,525		37,83~	2 642,882