2022-04-30-accounts - Stockport Garrick Theatre Limited

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Stockport Garrick Theatre Limited

Treasurer’s Report on the Accounts to 30 April 2022

Production Income and Expenditure

After being closed to the Public for 15 months it was a great relief when we were able to put on our production of September in the Rain in June 2021.

In the year we have presented 7 productions, 4 as main stage and 3 as studio.

Regrettably ‘A Streetcar Named Desire’ was cancelled at the last minute due to casting problems.

Attendances have gradually improved to 56% but are still 10% down on pre pandemic shows.

Expenditure has generally been kept to a low figure.

Bar and Catering

Sales have held up well, being 91% of the figure achieved in the year to 30 April 2020.

The monthly Comedy Club, which started again in October has made a significant contribution with sales on average being circa £800 per show.

The margin has held at 53%

General Income

Subscriptions Membership of 137 is 8% down on last year. The income includes £690 from Morgan and Helen who have paid for life membership. . Your Theatre Lottery We have been members of this lottery for 21 months and we receive 60% of lottery fees paid by our members. Unfortunately they have been very slow in paying over the money to the Garrick and hence the low figure compared to last year. We have received £344 in the last couple of weeks. Theatre Hire This all relates to the Comedy Club. In June a tribute to 10CC are paying £1,050 and in August another hire will generate £400. Hopefully we will soon generate income from the Theatre Downstairs. Rents Rental receipts are up to date. Terms have been agreed with The Spinning Top for a new 20 year lease, the new rent being £750 more at £13,000. We are just waiting for the lease document to be drawn up. Urban Haus having looked for premises elsewhere have thankfully decided to stay with us. Lease details still to be finalized but proposal is that rent held for a year at £17,000 and then increased by £1,000. Donations 3 Members have kindly made donations of over £1,000 and Robin Griffiths kindly bequeathed £1,000 in his will. It is pleasing to report that people booking on Ticket Source are kindly making Donations. On average we are getting circa £80 per main production.

Youth Theatre An excellent year with most age groups fully taken up. The income of £30,956 is £4,500 higher than 2020. The net contribution after taking account of associated costs and Faye’s fee is £14,284.

Gift Aid Refunds Mainly relates to the generous donations received in the year.

Fundraising Cora Bateman, a member of the Youth Theatre raised £596 as a result of her walk and Faye raised £329.

Sam Marriott who performed in The Dumb Waiter is doing a Mountain Marathon in July to raise funds for our Theatre. Thank you Sam and hope it goes well.

Grants We received two further grants from SMBC re the pandemic.

General Expenditure

Overall general expenditure is 27% up on the previous year and back in line with 2020.

Repairs No major repairs in the year following the decision to defer the expenditure on the Auditorium lights and ventilation in the Green Room and Dressing Room.

Mortgage Interest We started to repay the loan from the Charity Bank in November 2020 and so the the charge reflects a full year. With interest rates having gone up by 1%in the last few months we are now paying at a rate of 5.75%.

Heat and Light We negotiated new contracts for both electricity and gas in September 2021, and although the prices went up by an average of 35%, the figures are well below current rates. The contracts are for a 3 year term.

Balance Sheet

Fixed Assets A further £48,000 has been spent on the Theatre Downstairs making the total expenditure to date £327,000. We expect further costs to be no more than £15,000 covering sound and lighting re the stage and the installation of the bar.

Debtors Includes £2,018 re gift aid, £1,831 re royalty and scripts and £966 re insurance.

Bank Account The Charity Bank balance was a requirement of the loan in case we were not in a position to make the monthly repayment. Although the bank balance has reduced by £24,000 in the year our cash flow projections indicate that the figure should not reduce below £9,000 before increasing to £30,000 by April 2023.

Current Liabilities Includes accruals re The Theatre Downstairs of £5,500, loan repayments due in the next year of £8,430 and £7565 re accruals. Also deferred income of £4,200 re the Youth Theatre fees for the summer term and £2,042 re rent paid in advance.

In summary the Theatre made a surplus of £12,364 in the year after charging depreciation of £18,275

Post Year End

We have produced a budget for the year to 30 April 2023 which shows a surplus of £25,200 before depreciation, based on 6 main productions playing to an audience of 61%. 3 studio productions playing to an audience of 80%.

We anticipate a significant increase in bar takings due to more people hiring the Theatre and for the Youth Theatre to continue to thrive.

Expenditure includes £17,000 of repairs including ventilation in the Green Room and Dressing Room and replacement of Auditorium lights.

Stockport Garrlck Theatre Ltd Incom• and Exp•ndlturn for th• Year to 30 Ap*ll 2022 Actual Attu 31>Apr-21 Produ10 Income and ExpendFture Tickets Programmes less Commisslon on Sales 21648 249 -1520 N•t Tlcket Sal•s 20377 Props Cast Photographs TrainnI Wardrobe & Costumè Hlre Lightin8 Set Construttion Publicity Royaltles Tlckets Prograrnmes Scr5pts 870 47 223 ioio 719 4177 576 602 719 Prothctlon Syolus 10516 -719 B•r Ind C•t•r5w IrKom• Ex11• Bar Taklnqs Caterin8 17837 452 18289 Openin8 St¢xk Purchases Cl95ing Stock 7S8 1124 -1282 -758 8570 366 Bar Ind CaterlnisrpluS 9719 -328 General Income Subscriptions Wardrobe Hlre YourTheatre Lottery Theatre Hire Rents net of Mana8ement Costs Interèst Oonaisons Youth Group Fees Gift Aid Refunds Fundraisin8 Grnnts 429) 237 311 825 29150 3790 642 29150 6117 8557 2345 7229 61451 2018 I[7 115820

Stockport Garrlck Theatre Ltd Income and Expendlture for th• Year to 30 Aprll 2022 Artual 3(kApr-22 31>Apr-21 Genernl Expendlture Wa8es Telephone & Posta8e Prlntlng & Stationery Newsletter 22562 17409 1118 793 97 Rates 115 Mortgage Interest Subscriptions General 4341 2484 296 1560 8361 Repairs & Cleanin8 Heat Light & Water Youth Group TulorSal Professional Fees 6378 11448 6211 16672 .1545 3670 Soclal Group Bank Charges Vat Partially ExemptDlsallowed Le8al Fees Insuranct 118 1232 2593 1787 2608 750 7026 75677 59412 Genernl Surplus 56408 Summary Productlons 10516 -719 Bar & Catering General 9719 -328 56408 DepCiatIOn -18275 -20767 Surplus tor the Year 12364 34594

Stockport Garrfck Theatre Ltd Balane• sheet at 30 April 2022 and 30 April 2021 3A.21 31Wr-21 Flxed Assets Land and Bulldings 12921 12921 Equlpment and Flxtures 3852S 32960 Theat Improvements 37S833 3S0409 Auditorfum Imwovernents 11026 11856 40B146 Stock Debtors and Prepayments Bank Accounts CAF &ank Current CAF Bank Gold Charity Bank 1282 7114 758 4876 iioi 26043 62(N) 4531 46537 62fJ) 33344 57268 Cash 215 277 le Current Uabllltles .24137 N•t Curr•nt AM•ts 39042 L•ss Loiki.Trm Lhbllltl•s Lo•n Charlty eank 79497 87879 Total Net Worth 371673 3S9309 R•pr•s•nt•d by Capital Fund at start of the year Surplus for the perjod 359309 12364 324715 34594 371673 359309 I have examlned the Stockport Garrirk Theatre Ltd Accounts for the year lo 30 Apfil 2022 with the books and vouchers relatini there to and have obtslned all the explanations that I required. I certlfy that tn my opinion the IrKome and Expenditur Atttyjni and Balance Sheet accurately reflect the transac¢bJns carried out on behaw of the Stotkport Garrri* Theatre Ltd by Its officers and members. 13 June 2022 Maxwell Wild