The Yard Theatre Limited ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 egistered Charity No. 1144028 Company No. 07664276 *ACIXCKH6* 2211212023 CX)MPANIES HOUSE #110 The Yard Theatre Limited e8i5tered Charity No. 1144028 Company No. 07664276 Trnsttos Adrianna Johnson Ben Roge￿ (Acting chairfrom 26July 20221 Britannia Morton (Appointed 26 July 20221 Elaine Bedell (Appointed 26 July 20221 FanThy Guesdon IAppJinted 26 July 20221 Harry Handd5man (Appointed 26 July 20221 Jessica Lo¥eless (Appointed 26 ju￿ 20221 Manny Hothi (Apptsinted 26 Jufy 20221 Mark Oakin Naresh Ramchandani (Apwinted 7 De(ember 20221 Nicholas Hunter Yenny Chong Ashleigh Wheder (Appointed 26July 20221 Regtstered Address Unit 2A Queen's Vard White Post Lane London E9 SEN Auditor Moore Kingston Smith LLP 9 Appold Street London EC2A 2AP Bankers Barclays Bank PIC 193 Camden High Street London NWI ?PJ The Yard Theatre Limited Contents ol the Consolld*ed Financial Statements for the year ended 31 March 2023 Page Report of the Trustees Independent auditor's report 9-12 Consolidated staternent of financial actbvities 14 Consolidated balance sheet 15 Parent charity balance sheet 16 Consolidated statement of cash flows 17 Notes to the financial statement5 18-31 The Yard Theatre Limited TRUSTEES. REPORT For the year ended 31 March 2023 The Trustees present their annual report together with the audiied financial staternents for the year ended 31 March 2022. The Trustee5 confirm that the Annual Report and financial staiements of ihe charity comply with the current statutory requirement5, the chariWs Boverning document and the provi5ion5 of the Statement of Recornrnended Practice1SORPI, ap￿iCable to charities preparing their accounts in accordance with the Financial Reporting Siandard applicable in the UK and Republic of Ireland IFRS 1021 leffert￿e l January 201SI. Consiftutlon The company is incorwjraied under ihe Companies Att, company Th￿be[ 07664276 and Its governing document 15 Its Memorandurn and Articles of A550ciation. The company is a registered charity. number 1144028. Dlreclors and trustees A5 set out in the Articles of Association directors ale appointed by the Board of Dirertors of The Yard Theatre Limited. The Oirettors of the charitable company IThe Yard Theatre bmitedl are its Tru5tee5 for the purpose of charity law and thr￿JghoUt thi5 repjrt are collectively referred to as the Trustee5. Policies and piocedures adopted for the indyttion and training of Trusrees are ongoing and i￿Or￿rated indirectly into the regular Trustees. meetin85. The Trustees durin8 the period and since the period end. were.. Adrianna John50n Anna Vaughan IRe5izned 5 May 20221 Ben Rogers (Acting Chair frorn 26 July 20221 Britannia Morron IAppoinied 26 July 20221 Cardyn Ward IResigned IS June 10231 £laiTre 8edell (Appointed 26 July 20221 Fanny Guesdon IAppointed 26 July 20221 Harry Handelsman IAppoinied 26 July 20221 Jay Miller (Resigned 24 February 20221 Je55ica Lovele55 (Appointed 26 July 20221 Manny Hothi IApwJinted 26 July 20221 Mark Dakin IResi8ned 11 January 20231 Nareosh Rarnchondani (Appointed 7 December 20221 Nicholas Hunter Nicholas Starr Ichair until resgnation. 26 July 20221 Yenny Chong Secretsry Susanna Italiano (Until 26 ju￿1 20221 Ashleigh Wheeler {Ap￿)Inted 26 July 20221 Artistic Dirertor and Chlef EMecutb¥e Jay Miller EMe¢uti¥e Direttor Ashleigh Wheder Page 2 The Yard Theatre Limited TRUSTEES. REPORT FLY the year ended 31 M•rth 2023 Audito Moore Kingston Smith. LLP, 9 Appold Street, Lontlon EC2A 2AP Bankers Barclays Bank plc. 193 Camden High Street. London NWI 7PJ. Registered office and operation address unit 2A. Queen's Yard. White Post Lane. L￿don E9 SEN STrUCtURE. GOVERNANCE AND MANAGEMENT Consthlution and Stry(ture The charity is controlled by its governin8 d￿￿MentS including the Mernorandvm and Articles ol Association, and constitutes a limited company. lim￿ted by guarantee. as éefined by ihe Companies Att 2CA)6. The charity has one active wholly owned tradin8 subsidiary The Yard Enterprises Ltd. Any profits 80 to support the charitv. Aecruitment and Appointment •f NewTrystees The t*"rettors of the company are also Trustees for the purposes of charity law. Trustees are appointeé by boar resolution. The Trustees meet io re￿eW and a8ree èll new appointments in order to secure the best indLt5try and professional expert15e and a range of experience that support5 the aims of the organisation. Performance of the Trustees is remewed annual￿. Go¥ernance The Trustees meet quarterly to review the actiwty of the company and to advise the Executive Tearn responsible for carrying out the day-to-day actibryty of the company. Emecutfve Team Artistic Dire¢tor and Chief Executive Officer-jay Miller Executive Direuor- Ashleigh Wheeler 08JEcnvES ANO AcTrVm￿ 2022.3 Principal Artivity The principal atti¥ily of The Yard Theaire Limited is to reimagine theatre.. to support artists who reflect the diversity of East London,. and to fflèke our local community a better placeto live through art and culture. Oblectl¥e5 and Arth¥itles for the Public 8enefft The objectives of The Yard Thearre Lirnited as defined in our Memofandwn and Articles of Association are.. lo advance Ihe education of the pvblic in all aspetts ol the dramatic arts and the dertlokNnent of public appreciation of Such art in London and elsewhere in the UK. In shaping (yJr obl￿tiVeS for the year and ￿annIng ovr acti￿tIes, the Trustees have considered the Charity Comrnission's 8uidance on public benefit. including the guidance"publK benefit.. running a charity IPB21" Key aspects of The Yard's pvblic benefrt outcomes in 2022123 included.. • Public proiramme. This year we continued to ￿lMa￿lne theatre ￿ bringing together plays. PErforrnance. cabaret. and nightlife to share new 5torie5 and new ideas wrth live audiences. lfi 2022-23 we supported and presented new work by artlSt5 inclutlin% Hackney-t4)rTr writer. dirertor and choreographer Lanre MalaDIu. writer Vinay Patel. performer Lucy Mccormick. and ni8htlife collertive Mind Ui Head. Page 2 TRUSTEES, REPORT Fw the year ended 31 March 2023 Support for artlsts. This year we continued to support artist5 at all 5tage5 of their lives. We commissioned and developed new work by artists including Selina Thompson. Sami Ibrahim and babirye bukilwe. We also conrinued Yard Youn8 Artists. our ftee proErèmme for young people from East London to discover theatre, including developing our first theatre commission led by a 10 year old. leading to a prOdU￿￿on in 2023-24. Working with local residefits. This year we continued to creaie spaces for I￿arS to come together and be creative. We ran free famity event5 in our bar and cofflrnunity tentres. designed by our primary-age arts anil uafts club The Makers Guild. and we hosted groups for residents to come together such as Hackney Wick Town Hall. ACHIEVEMENT5 AND PERFQRMAPKE- Oell¥erthK the Obkcil¥es Publlc pro£ramme HiKhlights of our public wogramme this year included- Following a sold-out. ertended premiere wn in November 2021. Yard-commiss*)n SAMSKARA by Lanre Malaolu rwurned for four weeks in June 2022. SAMSKARA was a joyous. painful. epic Journey through 81ack mastulinity explorirtg the intertwined Stories of four Black men ol different generations. Explorin8 fatherhood, legacies. racism. community. and joy. through eTrEhralling dance as well 35 ernotionally direct text. SAMSKARA wowed audiences. sdling out anoiher run. Alongside the show we ran a programme of events. including two performanees extlusively for Black men. with discussion afterthe show led by local community leaders and rewesentatives frorn Black led charities,. and two banquets. brin8ing audiences tO8ether fw f￿d, dtstussion, and live music by Black violin players. **** •lola0￿ Is t7 reoltolenf The Guard￿7ft • We produced a new version of The Cherry Orchard written by Vinay Patel. who set the story on a spaceship in which a multl-8eneratiiJfial South Asian crew are seekin8 Qut a new home for fuiure generations. The show. which was directed by James McDonald. was 3 co-productton with En8li5h Tourin8 Theatre and HOME Manchester. It played a 7 week run at The Yard before touring to Manchester. It had significant pres5 and social media engagement. including complimentary re￿ewS from The fimes and the Financial fimes. Alongside perforrnances we ran events eentrine South Asian artists.. a panel with Vinay Patel. author San8u Mandanna and video games desi8ner Meghna Jayanth. who diKus5ed South Asian representation in sci.fi and fantasv.. and a cabaret night with South Asian queer cabaret c¢Ylettive Peach Chutney. Trwhtfvl.fvnny oftdsufvsed with romonceoftdyeorning." The 6uordloft We hosted When Thi5 15 (knr by Company Three. In the show five teenagers come tO8ether to tell the stories of their l*ves. their paM. their present and their imagined futu￿, touchinR on the pandemic and the climate CriS15. The show played to 501d out audience5. We commissioned and pfesenred Lucy & Friends. a new show by live artisi and performer Lucy Mccormick. continuinB our work to bring together form5 of performance norrnally experienced in a cabaret or club settin& to a larger audience ihrough our stage. Playing to srAd out audiences. the show went onto the E(Sinburgh Fringe irb 2023. We continued ovr role as a home people to corne together on our darKefioor, by hostiw events that brin8 tr¢ether music and forms of live performance for artists and communiiies often marginalsed in rnain5trearn spaces. In 2022-23 we hosted. supported and celebrated collettives anil twents including Jungle Kitty, an Alrobeat5, Raggaeton and Dancehall event cenlring the queer black communityt Miss Elleaneous. a queer cabaret night led by 3rt15ts including perfomier Frankie Thompson.. and Mind Ur Head. an event thai brings conternporary dance artlsts into club space5. which we cornmis5ioned as part of a new stream of work to invest in the development of artists making work in nightlrfe contexts. Page 3 The Yard Theatre Limited TRUSTEES. REPORT For the year ended 31 March 2023 • In line with our organisational value5. we worked to remove barriers to acces%ng our programme to ensure audience5 reflect East London's demographics. We ran our Schoo15 Programme. reaching 350 young people from schools in E35t London wilh a pre-show workshop. special schools performance. and F4)St-show Q&A, all for £5 per srudent.. we introduced 85L-interpreted performances alongside pre-existing captioned perforrnance5.' and we reached 41x1 people from vnderrepresented backgrovnds through ticket schemes designed to boost access, from £5 ￿ the day rickets for untler 26s. to 5ubsidised tickrfs to nightlife events for niippr ngnnlp n+ f￿rAIr Artist development & suppwt Hi8hlizht5 of Duf sUPPOrt for artlsts this year included.. Yard Young Artists. We work wtih young people from East London to explore the possibilities of theatre. through free workshop5 that prI￿rtISe playful eXpertrT￿tatlon. delivered by professional artists. This year we ran our 9-11 and 11-15 year old groups, and ￿3£k Excdlence at Nighttime. a group for Black creatives aged l8- 21. For the >ll group we continued our ￿rtnershIpS with three Hackney Primary Schools io offer f￿e weeklv workshop5 for their children. The group worke(I with Marlon Kameka throvgh the year to build theii confidence in devising and perlofming. This year we also realised a straie8ic airn to develop new professional theatre for our audientes ihrou8h the p￿ramrne. by developing 10 year old Yard Young Artist Masvita'5 idea into a lully fled8ed show with live artj5t Daniel Oliver. The re5ultin8 work. The Eg8 Show wa5 uhimatelv performed as part of our NOW festival of new theatre in April 2023. For our 11-15year-old eroup we pair professional artists wr(h young people who have graduated from the youn8er Broup and new youn8 people who apply to join. They explore storytellinB Dll5taKe through a year of free weekly Sessions. This year this group workeLI with Abigail Sewdl. Black Excellence at Nighttime cmtinued working with us this year to ctrde5ign a new progrèmme for young people aged 16-21 to lea¥n atxjvt and make new thealre. This programme wa5 launched in 2023-24. with Ste￿In￿$r0Up led by youn8 people frDm Black Excdlence. We also 5UPPOrted professional 3rt15ts to create new work and develop iheif practice and audiences. Ariists commissioned this year included Emma Crowe. babirye bukilwe. and Troy Hunter. We a150 completed workshops on new plays in de¥elopment responéing to rhe needs of the work, including those by Jarnes Fritz, Rhianna Ilvbe. and Sarni Ibrahim.. and continued to support the ¢Jevdopment of new work from artists includin8 Selina Thornpson and Heather Christian. New nightlife artists were supported this year through the lavnth of NiKhilife Residents. a Pf0Kramme which offers free hire and supFx)rt from our team to lavnch and grow a new idea within nightlife. Artist5l£ollectives include Habibti Nation, a group ceNerin8 rnusic and people from SWANA region.. Decale. an experimental music event with art perforrnances- and In Betl With My Brother. a theatre collertive ltr)kin8 to create a dancelloor with no prrfensions and silly perforrnance styles. Eng38ingwith lo(al re5ident5 • This year we CDnrinued to (￿ale spaces lor locals to ((￿e together and be creative. Durin8 this year we sold goodbye to Hatkney Wick comrnunity space Hvb67. c105ed due to local redevelopment, and addifionally our management relationship of E20 community Space The Hall also ended. with East Village Trust opening a new site instead. Thus we moved into the next phase of our community engagement, hosting local events at our current slte The Vard Theatre where appropriate. and also working with locals to design our capital project, ensuring their needs will be faitored into the e¥entual buildtrng and programme on offer there. This year we held free community event5 at Hvb67 and at The Yard- 5tarteiJ h05ting our arts and crafts club The Mokers Guild in The Yard's bai.. and continued io support Hackney Wick Town Hall, a discussion space for local residenrs_ We also held a number of workshops w•ith our architects to understand fesidents. needs for the new building. Page 4 The Yard Theatre Limited TRUSTEES. REPORT For theyear ended 31 March 2023 ORGANISATIONAi RESIUENCE Gv4emance The board'5 skn115 and exFerience sUp￿rt the ambitiDlls and objerti￿5 01 the WEalli54tK)n. ￿th expertise in key strategic areas includin8¥rts leadershtp. capital projects. and fundraisir%. SirKe the last Set of accounts were filed thtloll¢Miw apwAntments/retiIe￿￿ts ¢xcurred_. Cartslyn Ward IResigned 15June 20231 Mark Dakin (Reswed 11 January 20231 C*Jring this per￿ the trK)ard condutted * go¥emarKe re¥iEW. to ersure the ￿5t possible gowemance arrangements. Policies and procedureswere (reated and edited, and 5iEned off duringth15 period according to this rewew. lnclth1i￿ Whistleblowing pol￿. Equality DNersityand IndusKJn wlity. and Ethiral FundraisK¥ ￿lIEv. Buslne5s plan This yearwas tsurfirst fvll year since the Covid pandemic in which we We￿ able to operate according to the core pnnciple of our business model.. balan£ins ambitW5 chaTitable aCt￿rt￿$ with our£omrrercial efflerprises, chiefty our bar and nightlife programme. Wilh COVID-19 rEstrirtK)ns on wblic actNrties lrted throu&hout 2022.23. we were able to fully relaunch our nichtlife pro8ramme. arwy started fLrnning eventse¥ery weekend by symrner 2022. In 2022-23. incryne earned from ti£ket and thher inttsmÈ throuthwr ¢haritatdt ¥rtN[t￿$ suth as ¢o.production fund5. wa5 £250.000 or 21% of our Inccme. Income eèmed from tommer£ial tradinK artivities such as our n¥htlile proEramme and hires, wa5 £522.￿0 or 29% OF our income. compared to É212,(X)O. or 15% in the wior yÈar. In 2022-23 our fu￿￿raISed in£ome. with opital project c￿rnI￿ri￿5 discounied. represented 50% of our income. The final of ￿Jr Income was m3de up of Theatre Tax Relief atthe h￿her rate of 45% credir_ Our ongoing business plan ha5 U5 continue to increase ourearned ir￿rne thrL￿gh prcgrammingdecislc￿s and modesi prKe Increases, while modestly growing fundrai5ed irKome where p)Ssible. Fundrais￿ This year wrf(h thanks to a broad range of existsn8 new 5UPPOrters we rdi5ed E354.$08 re￿￿e funding. an 8% increase on 2022.5 figure cf £327,867. This is in ￿dItIon io supportfrorn Art5 Council Erylar￿ through our National portfol￿ Organi￿tIon Irant ol El52.760. and it excludes capial projertfufidraisiTrg whith is detail2d b21ow. We gained r*w and continued sltpport from a ronge of trusts. fOundat￿)n5. statutw and philanthropic b￿leS to whom we are Sndebted. including Kirsh Philanthrowe5.' 8boffi￿TE PhiL3r•thrOp￿S." The Patncl and Helena Frost F¢yJndation: The Henry Smith Charrty- The Ragdoll Foundatitin,. The london Borou¢h ol Tower Flamlets." Harrievs Trust- The Lr￿d0￿ a￿Ough of Hackney,. the LLDC'S NeightrtsJrhfKJd Prioritie5 Fund.. The Abderrahirn Crickrnay Charrtable Settlement." Maria &jornson Men)orial Fund.. The S￿r1d Raus1￿ Trust,. Austin and Hope Pilkingt￿ Tw5t- knth Hackney Parrxhial Charity- The Idlewild Trust." The 8oris Karloff Foundation and The HarDld Hyam Wingate Frwndoiion. We are also hugelygratefvl to a gr¢xJp of amaiing indi¥idua15 t*ho supkh)rted us ihrough ￿gUlar MOnth￿and annual donations. ticket purchase donations and thfouBh our Christma5 (r￿dfunder which raised over £12,LMKJ. We also recewed invèluable support from businesses inwever. we 5awthis£hall?nit as 3D opportunity. We adapted our proiertto refurbish tyjr current unit and extend to the neighbourine yte. negotiating a new 30yearagreement for kase our landlcvds. revisrtinE our deS￿n , and securinttontinued suppNt ofLsur primaryfunders LLtK and Gi At the time of writin81￿ projerthas Secured rearlv£grMNiL￿ aBainsta £6.Smillion bud6et, WTrh £￿6.0￿) additKJnal incorne aiiessed in 2012-23 despiie the hurdle outlined ab￿e. The proiea is Currentyb￿n8con5I￿ered for planninB permission. The board'5 Capital subcomrnittee re8ykrly revi￿5 prr8ress of the project alainsi agreed progrèmrne ènd budget. rinantia Rthryew The Yard Theatre Lirnited hès cornprthÈnsfft documented fflW4yed bythe Executive DirectLY and PÈLWe & Finance Mana8er. and overseen by the Board_ A comprehensi¥e Pisk Register 15 in place to ensure effective charity rnanagement. ManagErnent accou￿$ afe rewewed m￿1hty by the People & Finance Mana￿r with budiet holders, ￿entI￿.nE discrepancie5, ensuring rarEets are Met and fflanagingany Df income tal￿t$ not being reached_ These re￿ewS feed into rnonthly finance risk managementand mitiytirm. where forecasts￿ adjus￿ and area5for rn4xlm￿w income reduory exper￿ltUre are explored. The board ha5 a Finance subtornmittèe which meets quarterty w) adwarKeof L*Jard meetin85. reviews m￿alement accounts, annual budgets and the audit." and w4erseesfinancrdl proc2sse5. fteseThe5 In order to Er15ure we 8row our reserves toan approwiaieknl in (l￿￿1eratW)n of our risk afvd business profile it is the policy of the Trustees for the Charity.. i To hold an operatin8 reser¥t olthree rnmths of 5alarie5 4nd other sunk operatts)al costs to coverthe rn•n business interruptK)n risks as ￿EntifIed in the Risk Rtyster. thch for 2022-23 wa5 £169,816 2 To 5trateEicallyinvest In equipment and Infrastruthire where it can be dernonstr•ted th*sy¢h investment wil tontribute to the grmh of the orEani5ath)n_ 3 At the fvture tTrrfte w￿n we achieve the operotinire5erve W nEtded. todesIp￿te a £IO.iKiI MaintenorKe reserve. Finahtlal Positlon Atthe balarte sheet dale. the troup had totsl assets of £l.010.SOI coryri51ni r¢stricted furKls of £324.85? unrestrirted fund5 of £685.644. Restricted Funds ThEse rewesent iravts and donationstowards speofic pr(rtlurtims (Y proiEcts. WEtIoselymonit￿ reSti￿ed fvnd5 used in year. ensuring clarity whEn it comes to mOThrtc￿fig unrestrithd ￿SelVes. Unrestrlcted Funds These repfesentthe operatH)nal inCr￿e ofihe Erojp such as iickei SI￿5￿nd ccqnffi￿ll tradiNd ificome. as well ès yants and donations towards the KtNities of the tharity a5 3 WI￿11. Unre5tritted fvnds indude t￿BIble fixed 4>stts of£SIO.l% •ThJ * Lyratingfeseryeof£268.239 Page 6 The Yard Theatre Limited TRUSTEES. REPORT F￿the year ended 31 March 2013 PRINCIPAL RISKSAfr￿ UNceRTA*471ES Ilisk management The Trustees have a dutyto identrfy artd remew risks towhich charity 15 exposed and to ensure aPPToprYate controls are in place to ￿de reasonab￿ assurance against fraud and erTOt. The Yard has a Risk Registerfor the Iw5iness. which is created anThually and then reviewed quarterty ￿ the Trnstees. The Trustees have ideniified several key ¥isks toThe Yard as at ¢ktc&er 2023. Principal risks ind uncvlanrties CAPITAL PROJECT The Trustees view the delivery and realisat￿n of the capital projea to present a key rtsk io the or6anisation. There 15 1)otential untErtainty in all captal projects ar￿ current pre55ure around Constryrt￿n costs. In additN)n. The Yard's capital project will InVo￿e the £urieTht venue closing to the publK for 12-IS rnonths 2025 and 2026. To mitl8ate 48ainst these risk%. the Trustees ensure stroni project Management including the management of risks and budgets. reviewed at least every quarter thfUUEh the capital projert subcornmitiee_ Low term bud8eis including Opt￿n$ for the closure pericd ère reviewed at eath board meetin8. FUNDRAISIMG The Yard relies on $￿Tr￿l£an[ fundra￿Ing of its Arts (C￿￿clI EnglaThJ National PortloliDfvndln& wh￿h presents a rtsk to thE organi5ation In an area of increased competition forfuThJs, especial￿ in London. To mit¥ate aEasnst rhis tFustee5 ensure the organisatlOll'5 team are tr•ined and sUPPOrted_ In 2023 tm5tee5 SVPPOrted wth o remew of thp organisation's case for support and fundraising strategy to ensure appI￿atiOnS and approathes stand the bestthèn£e of suttess and risk is monaged eflectwely. HEALTH AND WETY & WEGVAf¢DING A potential health and safety or safeguarding incKlent remains a key risk io the or8anisation. To mitigate 4ainst ihis, the trustees reviewthe Health & safetyand Safeguarding policie5 annltally, ensurir% clear acc￿ntabIlIty and trèining is in place for the team. In 2023. the trustees instructed a heahh and safetyaudit to identify wtentiil irnprovements. vjith the results rewewed at boa*d knel. Page 7 The Yard Theatre Limited TRUSTEES. REPORT Forihe year ended 31 Marth 2023 Statement of Trustees. Resp(mslbllltSes The tru5tee5 Iwho are a150 direct015 of The Yard Theatie bmr(ed forthÈ purposes ol cornpany lawl are responyblE fDr preparing the Trustees. report ènd the financial statements in accordance wth applicable law and United Kingdorn Accounting Standards (United Kingdom Generalty Accepted A(counting PrattKel includlng FR5 102 The Financial Reportln8 Standard applicable in the UK and Republic of Irelamd.. Cornpany law requires trustees to prepare financial Statements for each financial year which give a true and fair v*w of the state of affairs of the tharrtablE t¢)mpany and of thÈ in£oming resources and app1Kat￿n of resources. including the income and expenditure. ol the charitable cornpany for that period. In prepar1r￿ the finarbtial statÈments. the trustees are required io.. Selert suitsble accounting policies and then apptythem consistentlv- ObseNe the methods and principles in the Chanties SORP.. Make judgements and estimates that are ￿asonable and wdent.. State whether applicab￿ UK Accountin8 Standards have been followed. subjErt to aty material departures disclosed Prepare the finaniial Statements on ihe going concern basis unless it 15 Inappropriate to presume that ihe charitable The Lrustee5 are re5p)nsible for keeping adequ*e accounting records ihat disclosure with reasonable accuracy at any time the Nnancial position of the chafitable company and to enable them to ensure that the financial statements cornply with the Compan￿8 Act 2006. They are reSpDnsl￿e1OT 5èfe£uardifiRthe assets of ihe charitable cornpany and hence takini easonable 5tEPS for the prevention and detection of fraud and other irreguLirrt*s. Thls report was approved bythe Trustees on........ Ben Rogers Actin8 Chalr Page 8 The Yard Theatre Limited Independent Auditor's Report to the Member5 ofThe Yard Theatre Forthe ye¥ ended 31 M￿h 2023 Opinion We have audited the financial statements ofThe Yard Thèatre LimitÈd lthe P•renl charitab￿ Comparty'l and rts subsidiaries, for th* year ended 31 March 2023 which comprisethe ConsolKlated Statement of Finonciol Actniities. the Consolidated and Parent Charitable CThmpany Balar￿e Sheets, the Consolidared Cash Fbw Statement and T￿leS to the rinanoal statements. includinK significant accounting ￿)1￿$. The financial reporting framework that has been applied In their preparation is appllcable lav4 and United Kingdorn Accountini Standard5. Including FRS 102'The Financial Reporting Siandèrd applicable in the UK and AepuWK of Irdand, IUn"rted Kingdom General￿ Accepted Accountinz PractKel. In our opinion financial stateff*nts'. give a true and fairviÈw of the state of the Efoup'5 and the parentcharitable c￿pan￿$ aflaw5 •5 èt 31 Marth 2023 and of the 8TOUP'5 Incomi￿￿e50urceS and application of resources. i%KSudvva its income and expenditure. for rhe year then ended.. have been property prepared In accordanowith United Kimgdom Generally A¢¢epted Ac£(￿￿ting Pract*e: and have been prepare(l in accordarKe with ihe requirefflents ol the Cornpanies Aci 3￿6a￿d the Charities Art 2011. Baslsfor oplraon We conducted our audit in accordante wrth International Stsndards on AL￿lting IUKI11&4s IUKII and applKable law. Ou¥ responsibilfties under those Stsndard5 are further desuibed in the Auditorfs Responsibilities for the audit olthe financial Staternents se¢tion of our report_ We are independeni of ihe charitable company in accordan￿ with theethical requirements that are relevant to our audit of the financial statements In the UK, Including the FRC'S Eth￿1 Standard, nd we have lulfilled our other ethical responsibilitiES in accordance wrth these ¥equirernents. We believethat the audit e¥Nlence we have obtained s suffi£ientand aPPfQPTiate to provide a basis for ouropinion_ Conduslons ¢el*iin¥to goi￿£0￿Cern In auditing the finan£i415tstements. we have concluded thèt thetru5tees' use of the 8oin8 concern bast5 of accounting in Ihe preparation of the financial statements is oppropriate. B3sed on the work we have performed. we have not ￿entIfied any materkil uncertainties relatin¢ to Èvents or conditions that, individually or collertNely. rnay cast Significant doubl on the chariiable compony's abiliryto continue a5 a con¢errb fof a period of at IE•St tWe￿e month5 from when ihe financial siatementsare aLrthorised for we. Our responsibillties the responybilitw of the trusteeswvth respea to gc4ngconcern a￿ desulbed in the relevant sett￿n50fthII￿epOrt. Page 9 The Yard Theatre Limited Independent Auditorfs Report to the Members ofThe Yanl Theatre Icontinuedl For the yt* ended 31 Marth X123 Other Informailon The other informatK)n tomprisesthe information intluded in thÈ annual report. other than ihe financk11 staternents and our auditorfs reportthefeon. The trustees are resFon5ible for the other inforrnation. Ovropinion on the financial Statements does not coverthe other informatioTr and. except to the extent otherwise explicitty stated in our vepovL we do not expre55 any forffl of a55urance corKlusKJn theieon. Our responsibility is to read ihe other information and. in doire so, consider whetherthe other Information 15 material inconsiSteTrt wf(h the financial staternents or our knO￿edge obtsined in the audit or otherwist appears to be materially misstated. If we identify such material inconstsiencies or apparent material mi55tstements. we are requi¥td to determine whether there is a rnaleT￿l mi55taternent in the financial 5taternents or a material missiatemeni of the other information. If. based on the work we have performed. we conclude thai theie 15 a materrdl misstatement of this other ifjformation. WE ire required to report that fact. We have nothing to report in thi5 regard_ own1￿$ on otherm•tters prestribed bYtheCty￿P•MIÈ$Aci 2006 In our Opinion. based ttn the wttrk undertaken In the ctyJrsÈ of the auditr. the ifif¢rffj•tion given in the trusteÈs' annual reportfor ihe financial year for whKh the financial 5tatefflentS are pfepared is consistent with thelinanciol statements.. ar￿1 the tru5tees' annual report have been prepared ift attordarttt with applitable legal requirement5. Matter5 on whith we are required to report by ex¢epi In the light of the knowledge and understsnding of the youp ar*J parent rhèritablÈ tompany and its environment obtained in the ¢ouise of the audit. we have not identrf*d maier41 misstatements ITr the twstee5' annu31 report. We have noth&nE to report in respert of the f01b￿ni matttrsT*there the Compan￿$ Att 20J6 and the Charities Act 2011 requires us io report to you If. in our opinion.. the parent charitable company has not kept adequateand sutricientaccountin8 r￿OrdS. ￿ returns 3deguate for our audit have not bÈen ¥*£e¢ved from branches not vsited by us." or the parent charitable companTrls financial statements are nor in agreerneni wTrth the accounting records afid returns.. or ¢ertaifi disclosure5 of twstees. remuneration spe￿￿ by law are noi made." or we hav2 not TEcÈNed all the inloimatKJn and explanatrons we require for our aLsdit- or the trustee5 were not erbtiYed to prepare finantial stat*mÈnts in a£tordance ￿th the small companies regime and take advantage of ihe srnall cornpanies exemption in prepaibng the tW5tees' annual reptsrt and from preparinK ¥ strategic rewjrt ResportsSb116tles of trustees As explained more fully in the trustses. responsibilr(ies statement set out on page 8. the trustee5 (who ale a150 the director5 of the charrtable cornpany for the purpose5 of ¢ornp3ny lawl are resptsnsible for the weparation ol the financval st*emenis and for being sètisfied that rheygive a true and fairvw. and for suth internal control as the tr115tees determine is necessary to enable the weparat￿n of hnlnrial st*ernentsthat are free Irom material misststemenL whether due tv fraud or error. In prEparing the financial statements. the trustees are resp)n51￿2 tor a55e5SinBthe group and partnt charitsble companfs ability to continue a5 a zoin8 concern. disclosin& as applKable, matters related to going concern and using the 8oinB concern basis of accountin6 unless the irustee5 either intend to li4uidate the gr¢Jvp or parent tharitab company or to cease operation5, or have nts realistic alternative tr￿t to do so. Page 10 The Yard Theatre Limited Independent Audltor's Report to the Members olThe Yard Theatre IContinu*dl For the year ended 31 Marth 2023 Audiiorfs reSp￿s￿bIlitieS for1￿ audit Lrfih¢ fiNn¢i•l ststem*iis Qyr objectives are to obtain reasonable assurance 4iK)Ut whether the financFal statements as a whole are Iree Irorn material fflisststemerlt, whether due t0fral￿ or error. arxl to 155ue an auditor's rÈwJrtthbt include5 OUTopinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audrt condurted in accord•￿e with ISAS IUKI will always detert3 matErial rnisst3tement when it VAISts. Misststemenis can arise IrDm fraud or error and are con5"Klered rnaterial il, ir￿1¥1du31IY or in a8Ere8ate, Ihey could reasonabty be expected to influence the economic decisKsns of users iaken on the basis ol these linanckil #al￿nIs. As of an •udit irh #¢cordance with ISAS IUKI we exertise professKJnal judgement and maintain professMx*l 5ceptKisrn throu@h￿jt the audit. We also.. Identify and assess the risks of material missMemert of the fInar￿al statements. wh￿her due tofraud or error. design and perform audit pr￿edureS re54x)nsNe to those ri515. and obtain audit evidEiice that is sufficient and appropriaie to provide a basisfor wr opinion. The risk of not deterting a material misststemeni resultingfrom fraud is hgher than for resulting from error, as fraud may invO￿e collusion, forEery. intent*onèl omi55VJn5. miyepresentst￿ns. orthe ovÈrride 01 internal control. Obtsin an understanding of internal control re￿an1 to the audit in orderto de54gn audit PfQEedures that are appropriate in the circumstances, but noi for the purposes of expressin8 an opinion on the effeciNene55 of the gr¢Jup ?nd parent ch4ritablE compan￿$ internal control. Evaluate the appropr￿tene$S of accounting pol**s used the re4s¢)n•blerw of a¢twnting estimates aThJ related disclosures made by the trustees. Conclude on the appropriateness of ihe trustees. use ol the goingconcern ￿51$ of accountingand. based o the audlt evpjence obtained. whethec a material uncertainty exists related to e¥ents or conditti?ns that mav cast signifieÈnt doubt on the 8TOUP and parent th3rTtaNe t¢￿￿panY'S aknlity to continue as a going cOn￿rn. If we conclude that a materval uncertainty exists. we are required to draw attention In our audrtorfs rew)rt to the related dis£k)sures in the financial statemenis or. rf stsch disc105ures are inadequate. to mod&fy our opinion. Our ¢￿¢1￿510￿$ are based on the audit evldentè obtainÈd up to the date of our auditorfs report. However, future e¥ents or coThl1th￿S may cause the Kroup or parent¢h•Titable cofflpany to ￿ase to conttnue as a goingconcefn. evaluate the overall pre5entstw. structure and content of fin•n¢ial ststernents. including disclosures. and whether the financol statements ¥eweseM the uThJertw"ng transJctK)ns and events in a maTrnerthat achievEs fair presentatK)n. Obtoin sulficient appropriate audit evidence re8ardinKthe financial information of ihe entit*s or business actNities within the group to express an opinion on the cons01￿ated finanEial ststernents. We are responsible for the direttM)n. Su￿r￿s1on and performance of thegroup audrt. We remain sc4ely re5￿￿$1b1e for our audit reFK)rt. Page11 The Yard Theatre Limited Independent Auditor'5 Report to the Member5 of The Yard Theatre (Continued) For the yeai ended 31 Mard• 2023 Explanation as to what e￿efit ihe iudbt T*iS tonsrdered ￿patsIe af detttliry Irwulafbties. fraud Irregularities. including fraud. are instances of nonws from Imiestlnl actl¥ltles Interest received Purchase ol property. plani and equipmeni Net cash used kn Imfesiin¢ aCti¥l￿e5 li 126S.6641 1183,4551 1265.6531 1183.4S51 Change in tash in ihe reporting pefiod 23.017 116.948 Cash at the be8inninR of the rewrting period 385.368 268.420 Cash at the end ofthe perh>d 408.385 385.368 Page 17 The Yard Theatre Limited NOTES TO THE FINANCIAL STATEMENTS f(* the year ended 31 March 2023 I. ACCOUNTING POUCIES Company infomiation The Yard Theatre Ltd is a private company limited by 8uarantee incorporaied in En8land and Wales. The registered office is Vnit 2A Queen's Yard. White Post Lane. London. E9 SEN. The 8roup consists ol The Yard Theatre Limited and its Subsidiary, The Yard Enterprises bmited. as derailed in note 1.1 A£¢oUnt1￿ convention Basis otPreparati4)n The financial stèiemenis have been ￿epared in actordance vith the Financial Reptsrting Standard applicable in the UK and Republic of Ireland IFRS 1021. published ID September 2015. The Charitable Cornpany is a public benefr( entity for the purposes of FRS 102 and therefore the charity also prepared its financial ststement5 in accordance with the 51atement of Recommended Pracrice applicable to charities prepann8 their accounis in accordance with the Financial Reportin8 Standard applicatAe in the UK and Republic of Irdand lThe FRS 102 Charities SORPI. the Companies Art 2006 and the Charities Act 2011. The financial statements are prepared in 5terlin& which 15 the functional cur￿￿tY of the c(ynpany. Monetary amounts in these financial statements are rounded to the nearest pound. The financial statements have been prepared under the hisiorical cost conventi¢)n. The principal accountin8 policie5 adopted are set out below. 1.2 8051$ of consolidation The Consolidated financial statements incorporate ihose of The Yard Theatre Limi(ed and all of it5 sub5idiarie5 li.e. entities that the RIOUP controls through its power to Rovwn the frnancial and operaring policies so as to obtain etonomic benelitsl. Subsidiaries acquired during the year are consolidated using the purchase mdhod. Their resulis are incorporated from the date that control passe5. All financial statements are made vp to 31 March 2022. Wlhere necessary. adjustments are made to the financial statement5 of sub5ich"arie5 to brin8 the accounting policies 115ed into line with those used by othEr members of the group. All intra-group transactions, balances and unrealised Kains on transattKJns beiween group companies are eliminated on consolidation. Unreali5ed 1055e5 are also eliminated unles5 the transaction provide5 evidente of èn impairment of the a55et transferred. PagE18 The Yard Theatre Limited 140TE5 TO THE F114ANCIAL STATEMENTS for Il*year ended 31 Marth 2023 i. ACCOUNTWG p￿aEs I¢M￿n￿ed1 L3 GolwC+Jnr•rn The Trustees have assessed whether the use of the grx'ng ¢c￿Cern basis is appropnate have consvjtrr￿ Kxlssible events of ¢orxlitK)ns that mitht Cast significant doubt on the a￿"1[ty of the charitable grtyJp to conbnue as a goin8 ¢ontÈfn. The Trustees have mae this assessment lur a period of at leastone yearfrom the dale of apwoval ol the finarKial statements. As described in the Tru5tee5' Report. the 2022-23 ye¥r$4w The Yards public programme resume year-round actNityloTthe first full year. supportin8 the charity's earned income to increase after CWD-19 related redu£tions in the prior Ewo yeèr5,' commercial income rnorethan doubled in thi5 renL*. compared tothe prior year. The Trustees also ￿e that revenue ndfèising increased 8% during thi5 period In addition this ye4rw4S the first of thecharity's thretryearIur￿Iry aBreernent with Arts Ctyjncil England through their MatioTral Porrfolio. ena111￿ long term Stsbilrty and planning. The Charity has ended the year withfree re5er¥Ys meetingtntstees resew polity. supporringthe organwtion'5 artNity In 2023-24. essential in an en¥ironment ol high inflotion and increased comwition forfvnds. Having reviewed ihe charity's forecasts and prolert1￿$ forthe period upto March 2024. the TTusrees have concluded that there Is a reasonable expeaation thatthe charitatAe group has adequate resources to continue in operational exi5terKe for the foreSeea￿e future. The charitable RrrAJptherelore C(￿￿e$ to 4dopt going cO￿ern basis in kYeparinB itsfinancial State￿nIS. 1.4 Inr¢)rn• All in£ome is recognised once the chaiity has entitle￿nI to the Irwme. arbv performance Condit￿￿5 attached tothe income ha¥E b¢ern metor are fullywithin the contrd of the thafty. it ￿ wobable that the income wbll ￿ received. and the amount ol incamE feceivable can be ￿aSured reliabty. nts donations and le Grants and donation5 are recognised In incorning res￿rceS in the year in whith they are re£eivable. excepi when dor￿r5 impose conditions which have to be fuKilled tefore the charty bec¢n*s enttded to use such i￿orne. Inthis Case. the income is delerred not included in incomiry resources until the precon(lrtitsns ft*r use are met. Income ta¥ recoveratrje in relation todonations rereNed underGrft Aid is retQ8nised atthe time of the donot&on. ties Charitable artivrties Lttal in¢ome- income from educati¢￿1 worksh￿$ sundry0t￿r irrome a5500ated wfth ¢ommunrtYatti￿ty is included I the period in Wh￿ the relevant artivitytakes place. T￿atre 1￿c*Me- income from box office. performance fees Su￿1ry0t￿r the*ri¢al ￿t￿rne is included in the pÈrK*J In which the relevant show takes place. Invest t intom Interest on lunds held on de￿sIt Is Included when receiyabte and bÈ measured re1rdb￿ by the charity. This is normalty upon notification of the interest paid or payaNe bank. 1.5 Ejtpendtture All expenditure is included on an xcfuals basts inclusNe of aryVAT whKh can￿t arKI is ret￿nised when.. there is a legal orcon5trurtNe obl¥ation to fflake 3 payment it is probawe that 5ettl2fflent w51 be Tequired amwnt of the obligation can be measured relvabty- Page 19 The Yard Theatre Limited NOTES TO THE FINANCIAL STATEMENTS fty the year ended 31 March 2023 l. ACCOUt4TING POUCIES Iconunuedl rt costs The atlministrative and overhead costs associated with runnin8 the office from which the company Lyerates. as well as governance costs. Support Costs are attributable across all charitable a￿l￿ties. 1.6 Tan8lble Ftxed Assets Tangible fixed assets are initially measured ai cost and subsequently measured at C05t or valuation. net ol depretiation nd any impairment losses. Individual fixed assets costing £S(A) w more are capttalised. Depreciation is recognised so as to write off the cost or valuation of a55ets less their residual values over their useful lives on the following bases-. Leasehold irnpro¥unents Fixtures and fittin8S Plant antl machinwy 10 years straight line basis 25% reducinK balance basis 25% reduong balance ba5iS The Bain of10$5 ar[￿n£ on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the 355eL and is credited or charged to the statement of fiAancial att•￿ties. 1.7 Fijted asset invesiments In the parent charity financial staternents. imvestments in subsidiaries. assocTares and jDintty controlled entitie5 are initially measured at cost and subsequentty rnea5ured at C05t les5 any accumulated inwairmÈnt losses. A subsidiary is an entity conirolled by the grDUP. ContrrA is the wywer to govern the finaAcial and operatinK policies of the entity 50 05 to obtain benefits from its atti¥ilies. 1.8 Impalmitnt of flxtd assets At each Teportine period end date, Ihe group reviews rhe carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have 5uffereLI an impa¢rment loss. If any such indication exists, the recoverable amount of the asset is estimaied in order to deterrnine the extent of the tmpairment loss lif any). WheTe it 15 not P055iWe to estimate the recoverable amount of an indi￿d￿l a￿¢t. the group estimate5 the recoverable arnount of the ca5h-generatiTrg unit to which the asset beloA8s. Aetoverable arnount is the highef of lair value less costs to sell value in use. In assessing value in use. the estimated future cash flows are discounted the their present value usin8 a prtrt3K discount rate that reflÈrts current market assessmenrs of the time value of money and the risks specific io the assrf for which the estimates of futufe cash flows have not been adiusted. rfthe recoverable arnount ol an a55et lor cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset lor cash-generaiing unit) 15 reduced to its recoverable amount. An impairment loss is re Key source5 Ot estifflètion un£ertainty The estimates and assumptions which ha¥e a signffjKant risk of causing a material adjustment to the carrying amounts of asets and liabilities are as follow Accruals The tharitable Erovp makes an estimate of accruals at the year end basetl on the invoices received after ihe year end and work undertaken which has not been invoiced based on quotation5 of estimates of amounts that are due for payment. Artas of judymenl Defrrredincome The charitable group delers income where amounts have been invoiced or payments received in advance or when the harity h35 future contractual obligaiions upon receipt OF incoming resources. Judgement is involved IN determinin8 of what income relates to fLrture cty)tractual obligations. Page 22 The Yard Theatre Limited NOTES TO THE FINANCIAL STATEMENTS for the ¥ear ended 31 Marth 2023 3. Support £osts Total 2023 Total 2012 Staff costs Office and theatre overhead5 Adrnini5tration cost5 Go¥ernance costs 660.317 126.869 24.140 11.6LKI 511,885 67,420 59.093 21,878 822,926 660.276 4. Net iTrcomel (expendi￿re) This is staled after charging: Gmup 1013 Charlty 2023 2022 2021 Depreciation and impairment of ian&ible fixed assets.. - a55ets owned by charity Auditor's remuneration audit fees - tam compliance services ii. 371.711 11.91JO 371.710 14.81J) 1.2OJ 12.3(Kl 1.000 14.800 1.200 12.300 i.c#Jo 5. Trusiees. emoluments and relmbuvsed expens¢s The trustees rtttrved no remunLYation during the year for their ser¥ice5 a5 tru5tee512022.. £nill. During the year Jay Miller. a trustee. received remuneration of £S0.00012022". £42.9451 for seNce5 performed as Artisti£ Oirettor. Donations ol E25.96412022.. E3.6541 were rectived from Trustees during the year. The aggregated amount reimbursed to trusiees during the year was £1,23012022= £2191 & Staff ¢osis Stall costs were as follows- Group 2023 Charlty 2023 202Z 1022 WaRes and salaries Social security Costs OthEr pension costs 670.844 54.655 13.$44 601,329 46,682 8,885 603.548 45.521 11.248 464.948 38.127 8.810 739.043 656,896 660,317 51J,885 The average number of pErsffis eN￿loved by ihe company during the year was 35 follows.. Group 2023 No. 17 Charity 2023 No. 2022 2022 No. Adminisir*ion and rnanagernerbt Performers and art15ts Bar and kitchen 25 18 18 43 18 18 18 18 Page 23 The Yard Theatre Limited NOTES TO ThE FINANCIAL STATEMENTS for the vear ended 31 Wlarch 2023 . stsff tosts Icontlnuedl No employee received remunerati￿ amounting to more than £60.LiKI in •theryear. Key management personnel tonsist of the Trustees and the senior management tearn. Remuneoiion artd benefits received by key management personnel amounted 10 £141.945- 3 people12022.. £151,304- 4 people l. 7. TanBlble Fixed Assets- Gr¢>up and £har6ty Assets undef Leasehold ￿￿tUreS arHI ConstNclion lrnpm¥ernents Fftli Hant and Mathinery Total At l Aprll 2022 Additions 581.854 242.136 43.773 5.930 76,428 23.52B 707.985 265.664 At 31 March 2023 823.990 43.773 5.930 99.956 973.649 Deprttiatson At l Aprll 1022 Charge for the Year Impairrnent 361.748 37.864 2.810 S.394 145 46.547 8,945 451.553 11,9rJ) At 31 March 2023 361.748 40.674 5.539 55,492 463.453 Nei 8ook Value At 31 March 2023 462.242 3.099 391 510,196 At 31 March 2022 220.106 5.909 S36 29,881 256 432 Assets under construttion are in rel*ion to the cawal project. Following a redesign of the projett, a number of costs were identif*d which were no lon8er fdt io be of f￿ure ect￿0M1( benefii and therefore have been impaired in the year. . Investfflent in tradin8 subsidiary The wholly-owned trading subsidiary The Yard EThterpri5e5 Limited Icornpany number 093321941. which is incorporated in Englané and Wales. is consolidated wiihin these financbal statements. its registered address is Unit 2a Queen's Yard, White Post Lane, London, E9 SEN. The tofflpany distributes all its profits io ihe chariiy under Gift Aid. The Yard nterprises Limited prornotes comrnercial non4heatre hires and provide5 catering at the iheatre. The charity owns the entire issued Sha￿ cakmal of l Ordinary Share ol El. A summary ofthe trading results is slwn below. Page 24 The Yard Theatre Limited NOTES TO THE FINANCIAL STATEMENTS for the vear ended 31 Mafch 2023 8. Investfflent kn tradlng sutssidiary Iconlinuedl 2023 2022 Turnover Cost of sales 251.359 173,8551 110,715 152.3411 Gross profit 177.S04 58,374 Administrative expenses Other operatinB incINne 1121.8951 1170,5241 25.626 Prolit before ia¥ation 55,6CP3 186.5241 Taxation Prolit forthe financial year 55.609 186.5241 Retained earnings broughr forward Distribution to parent charity 1138.8221 152.2981 Retained earniw carried forward 183.2131 1138.8221 The assets and liabilities of the subsidiary We￿.. 2023 2022 Stock Debtors Cash at bank and in hand 9,214 12,609 4.073 25.896 5.423 1.671 14,890 21,984 Creditors." amounts falling due within one year 1109.1081 1160,8051 Net assets 183,2121 1138,8211 Shale tapiial Profit and loss reserves 183,2131 1138.8221 183,2121 1138.8211 9. De￿01$ Group 2023 Chartty 2023 2022 22 Trade debtors Corporation tax Amounts owed bygroup undertakings Other debtors Prepaymenrs and accrued incorne 52.003 176.181 73.077 66,712 47,015 176,181 73,907 40.561 57,187 72,387 66,712 143,762 12,951 104.308 45.846 56.737 12,790 104,308 330.767 256,887 394,851 4￿.120 Page 25 The Yard Theatre Limited 140TES TOTHE FINANCIAL ￿ATEmENTs forthe ￿ar￿ded 31 M•r¢h 1023 10. CrEdbtois Gr• 2021 Char 2023 2022 Trade crediturs Othertax*iw and sociol Security Oiher creditors rui15 and deferrel income 107.472 25.892 17,405 109.502 63.796 15.383 8,317 69.229 91.389 13528 6￿36 116.102 55,817 11.916 3.862 69.229 260.271 156.726 227,855 140.824 8alanceat OV041￿ Trar&fers bal•ftteat Inl(¥rt 3UOV2023 Dp*nated fvnds Fixed assei fund 256.432 2S6.432 123,529 1135291 277,293 27?.293 510,196 510.196 General F¥*ds General fund5 331,80¢ 331.804 983.Cl)9 983,(X)9 1.023.045 11,023,0451 23,5291 123.5291 268.239 268,239 Tot31 unre5trittedfuThts 588.236 983.(X)9 IIW,5741 253.764 77B,435 Restrfneoknds LLDC and Hub67 Local Proeramme EJstVilla8e Trust The￿e produrtions 31.910 11.027 36.3r 184.4951 11493661 136.3051 14.415 3,027 14L566 14.$ 1.771 11.7711 1230.(*YJI 12.6631 116,8201 Capiial projett Art5 Council Culiural Reco¥ery Fvrn OiBIi*.' Bloomber8 DAP ,526 1253,7641 122.762 2,136 7S,(IXJ 73.180 Total restrict*d fL￿dS 159.149 853,59Z 1539.12Ql 1253,7641 219,857 Total olfunds 747.385 1.836.601 11.$85.6941 99&292 Page 26 The Yard Theatre Limited IK>IES ToTrfE FYIANC￿l STATEMÉFn5 f•r theyew ended 31 Maith 1013 11. ststeffl¢ntolfvvth (coot(￿1 CL¥rent Trathsfers JUOJI1023 Dew•ted FixÈé assrtfufKI 256.432 2%.432 23.529 123.5291 277.293 27?.293 510.196 GMeThl Fund5 General fund5 47Q626 470.626 759.GSO 7S9.6SO 8SS.295 18S5.2951 23,529 3SI.452 351.452 Total UNesty￿￿ fvnd5 72?.lY 759.650 87&824 253.764 861.648 R*strilttdfunds LLDC and Hub67 Local ProBrarnme Ea51Village Trust r￿atre PradurtKJtL5 MUS C•tal proect Art5 Counol Cuttvral AetfNery F￿ Di8lta. bk>Dmber8OAP a2.910 11.027 184.495Tr 1149.5661 13&30SI I7.5￿) 11.7PiI 1230,IX*)I 11.6631 126.8201 14,41S 3,027 L41J66 ?.o(K) 1153.ml 122,762 2.1 2S.I 73.1 Total restrkted funds 853.592 119 857 Total ofltrThJs 886.2ts7 1.613.242 11,417.9441 I.OBI.S05 Pfiar Èar- IOU OVW2 knlwt >￿0311022 De5tgn*edfvnds Fixed 4SSet [￿d 361.748 1%1.74U I83 4S5 183.4SS 444.687 19.%21 256.432 GenevalFw General Funds .1*) 30L.Ig) 584.1 1584.178 10.986 110.9861 331.￿4 331.804 625.778 Total ￿￿￿￿51t￿¢d Iyr 615.778 588.236 Rejirtted fvnth LLtKand Hub67 L￿al Proiramme Ea#villa8e Tiust Theatre Prod￿￿TrI m￿￿C t3pltal pr￿er1 Artscouncilculiural ReCo¥eryF￿d iilal.. 8loornbErBDAP ive Prafts ioii 32310 39.159 13orm) 1185.2511 1g).f 146. 19.83n 145.9211 Im.5641 i￿.0))) li.5￿) 31910 11.017 36.305 157.(OJ 45J￿) 1.771 218,Ml 26S.S24 125.LK 1172.4691 176 2.136 75.0 Tot¥ ￿$trthd lur￿4$ S3.198 720.3741 171469 159 149 Tor4of lund5 899m5 lJ24.571 11.3L4.5141 1361.7181 747.385 Page 27 The Yard Theatre Limited NOTESTO Thc AWIOIiSTAI(MENTS IWJ12 ¢d•55EtIw 3Ass 143.455 256.431 1SA4JI 13SL74I1 419A37 4•Y.4J? (361JiJ> (JfjiJui IiQgB$I 470.516 470.615 MJ75 48YN37 727M58 LLCK4nO H￿Tr i[￿P￿raMMe E•slWWeTru%t 157thJ JL927 36.305 41) Mwic 1.771 2WJX) IIY2.Wl ArtstQunt11tthw1Re(ty￿Fmr Efjirtvl". 8IctsTthisDAP (reLrifrs102I 7$ T￿lIr¢w￿diund￿ IiY2M691 159.149 *SLJ73 i.JMJ ILtrJJ. 136L7481 BI4207 Fthid The Yard Theatre Limited NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 Marth 2023 12. Analyys of net assets betweeDfunds-Group Analysis of net assets between funds- turrent year General fvnds Designated fvnds 2023 Restri¢t fvnd5 1023 Total lunds X123 Tangible fixed a55et5 Cur￿nt assets Creditor5 due within ofie year SiO.196 510.196 748,367 1260.2711 528.510 1260.2711 219.857 268.239 SIO,196 219.857 998.292 Analysis ol nei assets between fvnd5- wioryear Gener•1 Desl8nated fvnds fvnds 2022 Ae5tricted nds 2022 Tot•1 fund5 2021 Tangible lixed assets Current assets Creditor5 due within one year 256.432 256.432 647,679 1156,7261 488.530 IIS6.7261 159.149 331.804 256.432 159,149 747,38S 13. Anatysls of net a55ets l*tween fvnds. Charity Analysis of net as5et5 between funds- current year General De5i8nated funds 2023 RtStri¢trd fvnds ij Total l￿d5 2023 2023 Tangible fixed assets Investments Currerbt a55ets Creéitors due within one year 510.196 510,196 579,306 1227,8551 219.857 799.163 1227.8551 351.452 510.196 219,857 1,081,505 Analysis of net assets between fvnds- wioryear GenEral Oesi£Nted furA funds 2022 Re$￿tted fvrmts 2022 Total 2022 2022 Tangible fixed assets Inve5trnents Current assets Creditor5 due within one year 256.432 256,432 611.449 1140,8241 159.149 770,598 1140,8241 470,626 256.432 159.149 886.207 Page 29 The Yard Theatre Limited NOTES TO THE FINANCIAL STATEMENTS f