Company Registration Number 07972082 (England and Wales) Charity Number 1147697 LICHFIELD GARRICK THEATRE (A company limited by guarantee) REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 *ACXIIDYJC" 29102Q024 COMPANIES HOLISÉ Lichfield Garri¢k Theatre Flnancial Statements Year Ended 31 J￿[Y 2023 Contents Pagg Charity Reference and AdministratNe Delails Twslees, Annual Report Independent Auditor's Report Consolmlaled Slalement of Financfjal Al#￿itreS (InckJdirKJ Income end Expenditure Account) 12 Consolidated Balance Sheet 13 Charity Bala￿8 Sheel Consolidated Statement of Cash Fkn 14 15 Notes to the FinancAal Slalements 16 Lichfield Garrick Theatre Charity Reference and Administrativo Details Year Ended 31 July 2023 Charlty regislratlon number 1147697 Company rnglstratlon numhr 07972082 {Eryland and wa￿$) Twstoes D F Baker P A Carter J M Be￿rn￿l {appoinled 20106r20231 E Haslarn {ap￿Inted 191C6r20231 D J HAI (apFointed 21106120231 S C P¥rce lappowbted 1W0512023) E L Ryan lappointed 20K612023} E R Shouler (appointed 20106r20231 Chlef Executlvg Offlcer D J Buckroyd {ap￿￿ted 1911212022) Roglst•red offlce Lichlield G8￿￿k Castle Dyke L￿hlIeld Staffordshire WS13 6HR Auditor UHY HackwYO￿g 14 Park Row Nottir¥Jham NG16GR Bankers HSBC 49 Market Slreet Lichliek1 Staffordshi WS136LB Lichfield Garrick Theatre Trustees. Annual Report Year Ended 31 July 2023 The Trustees present their report artd the 8udiied financial statements of the charity for the year ¥nded 31 July 2023. The Trustees have ayopled Ihe provisions of the Statemènt Recommended Practice {SORPI "Accounting and Reporting by Charities" IFRS 1021 in p￿Paring Ihe amval reF¢rt and financial slalemenls of the charity. The financial statements have teen Wep0￿ in 8￿rdance wth the accounling policies sel out in notes to the accounts and compty wflh the chartty's governing d(KUn￿l. th¢ Char￿e$ Act 2011 and Accounting and Reporting by Charit￿$. Siatement d RKrynmended Practice awlKable to chaiitie5 preparirng their accounts in a¢¢ordan¢g with the Financal RepcrtirrfJ Standard appl*8ble in Ihe UK and Republ* ol lieland second edrtion blisheé ID O¢tobei 2019 Trustees of the charity The directors of the charrtabkn company a￿ rts Irustees for the purposes of charity law. The Iruslees who have seNed during the year and sirKe the year end were as fdk*vs: D F Baker J M Beavmonl1opF4>nted 201061r20231 P A Carter N E Haslam (appointed 191¢M0231 D J Hill (appointed 211(X120231 P Hooper-Keeley (resigned 03103r20231 D L Pe￿h (resigned 01112r20231 S C Price lappxjinted 1810512023) E L Ryan lappoinled 20106r20231 E R Shouler lappoinled 2010612023} W R Smith (resigned 07111120231 J Wright IFe5i9ned 091C6120231 Oblectives and activhtie¥ The objectives and aims of thè Charity arè the advancement of the arts lor the benefit of the public. in particular through the operation of the L￿hr*￿1 GarrKk Theatre and the adV8￿Men1 of•jUcat￿ in relation lo the arts for Ihe benefit ol the public. Public benelit stat•mant The Trustee5 sel and pkn acliwties having fegard to Ihe Chaiity Co￿15$￿)n'$ guidance on public benèfit. in¢luding Ihe guitjance on aémBsion charges io programme events. Achievements •nd perfomian¢e The year ended 31 Juty 2023 saw lh¢ re-¢$tablishment of pre£ovKI levets of I￿ke1 sa￿S aThJ income, driven by in¢rease tyi the nurnber ofperf(xmances offered during Ihe year. a laster-lhan-anticipated post-covid relum ol Ihe th&at￿'S è*sting audiences. and a higher4han•usual *1 of ftst tinw attenders since the lifting of pandemic siriclKJn5. Chnslma$ 2022 provided a particular hi9hlight by breaking all box offKe records and Seeing oveithirty five thousand peopk wsiling the venue in a six week period. Againsl this backdrop, the new ChEI Executive and Senior Management Team have been consullir*J wrfh a wide rarse of st*ehok%ers and revlemng the strategic direction of the ckanty. Supported by Trustees, including a sMJrsffjcant new intake bringing new arts. community and fin8nci81 sknlls to goverrtante towards the end of Ihe year. tw have now tumed this into a new Business Plan ¢overitYJ Ihe perKJd unl"12028. due lo be published in earty 2024. R8s•rv•s pollcy The Trustee$ ke&p Ihg reserves of the Theatre rwujarty under rewew. Lichfield Garrick Theatre Trustees, Annual Report Year Ended 31 July 2023 Charity only reserves al 31 Juty 2023 stood at t1.572.274 and thè Trustees are cL￿fident that Ihts lèv¢1 ol reserves will enab￿ the theatre to continue as a viable entity. inve$iiNJ in the develokynènt ol the theatre buildin9s and facilities in the coming year and exlending the range of admiies und*riaken in wrsurt of its ch*itable obje¢iNes. Funds havo been Iransferrtd to designated fvnd5 for capital improvements. essenb"•l repairs. edv¢#tion and ¢omnwnity pr¢8ramme devebFX))ent and ihe ea￿0M1¢ valve of¢aprtal 85sets desunaled t¢ future perths. Prlncipal funding sourcos Thè Thgalre's prineipk Ivnding sotsTceis the re¥enue stream from ilsprmary ￿lsineSS. In additk)n to thi5, Lichfidd Distwicl Council SupF*￿$ ihe Theatre in return for seNices to the community. the iole it plays in making b"chfield a vibrant city lor residÈrnls an(1 visitws a￿k8 recognitw)n of the favou[ab￿ econom￿ umpacl that the Tho8tr& has on Lichlield and its $uffound$. Going ¢onc•m The Trustees have as5es5ed whether Ihere ale any 519nrfKant doubts about the Charity's abiliiy to contsnue as a going concern. In the op4nion of the Twsiees the Theatre is a going concem. 11 has aFpropriale b8nking faci1its"e$ in place. 8 very strong w0￿1n9 reL4tionship with ils stakehobJe(s. stiongty recovered trading income streams. and a heallhy cash flow. In additK)n. the Trustees are not aware of any ￿￿ertainlIeS. which would mean Ihat the accounts should not be prepared using the goin9 con¢Èrn basis. Plans for lutur• The Theat￿ will conlinye lo provide a diverse. accessbi le progiamme ol hKJh44uality wofessional perforning arts in the heart ol Lichfietd. together wrfh L￿p￿tUnItIeS for local ytyJrKJ pecwe, communit￿$ and artists to get involved in creative activilies and contrtjute lo the culural life of thè tity its surrounding area. Structure, Govern•n¢e and Monagement Gov•rnlng documont Llchfield Garrrk Theatre is a regislered Charty, regisi(athJn nurtjer 1147697 and also a company hmited by guaranlee, registsalion number 07972082. govéming document is Ihe Art￿leS ol Association of the charitable Company, as arnerKled by Special ResolulK*n on 25 February 2021. wh*h est8blishes the objects and powers thè charitabl8 company. In the event of the Charitab￿ company being wound up men￿erS are required lo contiibule 8n alr￿)Unt not exceedirng £1. RecTU•tmont and appointment ol n•w trustees Trustees are recruited based upon the skills and experienc* Ihat Ihey hokl and depend&nl on the charity's needs and 8ie appointed at board meetings Ihrou9hout the year_ Orgafii6atlonal 8lru¢ture Thg overall iespon5ibility for the Charrty lies with the Trustee C¥eclors who have delegaled the day-Ir*day man¥gèmgnl ol the Charily to Il* Chief ExecutNe 0￿￿tr. The Trustee Oireclors meet regularty 1¢ ag￿e strategy, review piogress. reviewfinancial infotm8tson. and discuss policy Bsues. To lacrfilale effective op*rab"on. the Chief Execu￿* Offi¢arhas delegated avthortywthin lerms ofref8renc& aN)rO¥￿ by theT￿Stee$ for sorneoperational mallefs. incI￿ling fina￿t. Induetlon and training of new trtsst•e8 On grrfjoinlmenl every Twstee ￿ provided wrth a pack of documents setting out k&y inlormalion on the Charity. New Truslees are iequ*ed to confirm that Ihey have studie(J these (￿?￿Men1$ a￿$ raised any queriesoroblaiTred further infoimalion which they may need. Developments in Charty Law and Pr*ice ale and ￿￿￿rtartt developments are brought lo notice of Trustees. Li¢hfield Garrick Theatre Trustees, Annual Report Year Ended 31 July 2023 Kèy manag*m¢nt fymun¥raiion I dire¢lois grye their lime I￿ety and no dwe¢lor receive(I remuneratKJn or tsenefit for their work with the charity during the year. Senior stsff remunerat￿￿ sel compelrtively. n line with mathel condrtions. The Board ol Trustees sels the Chief Ex&xuts've OffrE¢5 remunera1￿ and rewvws recomrrendati(Ins lor other senior stalr. Related parties and prinelpal funding Any connec1￿rn i*iween Trustees and any KwryluctK>nu)rnpany, actwor ￿rtoM￿r must be disclosed to Ihe Board in Ihe same way as any contractual relab"onshtO wrth a rek41*d paty. The Charity has a slialegic partnershp agreement with the CourKil who provide grnnt 8KI. Receipt of this grant aid supports the ongoing Operat￿ of Ihe thealr8. The Charity has Iwo wholty Own￿ subsidiar￿. L￿￿lie1d G*rick (Green Rooml Limiled. which njns Ihe cafwbar lor the Theatre arnd Li¢hf*kJ Garti¢k P¥¢ducb"ons Limrtéd. which produces sh(h¥s for the Theatie. Rlsk Ma￿a9•Mon1 The trustees have a duty to identfy and review the risks to whth the Ch￿ty is èxp)sed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The senior management team and the Board of Trustees regularfy revw risk Ihrough a well*siablished risk regi$l¢r. Th8 Primè iisk118s in the abilty of the Theatre to mainlain adequate ￿ve15 of demand and linancial support lor the SerV￿S it offers wth(n Ihe current econom￿ climate. In the opinion ol the Trustees. ¢he Charity has established resources and ￿￿&W systems whKh. undeT normal OjnrfitKJr￿. should alkw the risks hjenlilied by them to bo mrt+Jated lo an x¢eptabb Iwfjl in rts day-to.day ¢)peration$. Trustses, re$pon$ibilities The Trustees (who are also directors of Lichfiekj GaTTick Thealre ftwthe purp)ses of company lawl are responsible for preparing the Trustees. Annual Report and the fmancial statements in ar￿[dan￿ wrth appI￿able law and United lthngdom Accouniwig Standard5 (Unrted KingdThn Generdty Ar£epted Accounting Pract￿￿). Comparny law requires the trustees lo prepare financk71 slaiements for financHI year, whith gNe a true and fair view of the $tate of affairs of Ihe charitable company and of the ir￿Orning resource5 and applicalion of reswrces. includiry the income and e￿ndItu￿, d the chariiatde c(¥￿anY for thal perKJd. In preparing Ihesg I￿anc￿lI slalements, Ihe trustees are required lo.. sèlèct suilable accwnt*)g poliC￿S and then aFpty them consBtentty.' observe the rnethotjs and prin¢iple$ in the Charitses SORP 2019 IFRS 102)., make judgernents and estirnales Ihat are reasonable 8Ad prudent.. ststè whether appI￿able UK Accounting Stancsards have been foll¢xed, subj-ect to any material dep8rtures disch)sed and explainetl in the finanaal slatemenls,. prepare the financial slalerrents orn the goiNJ concern basis unkss it is inappropriate lo piesume ihal the charitable company wilt contsnye in Operat￿n. The trustees are re$pongble for k￿Ping adequate accounting ￿CordS that disebse wlh ieJsonable accuracy al any time the lin8Dcial position of the charitable company a￿1 enaile tIEwn to ensure Ihat the financial statements comply wilh the Ccffipanies Act 20C6. They are abo responsible lof safeguardin9 Ihe assets ol Ihe chaiilable COmP8ny and hence for lakirtg ￿sOn￿)Ie steps fof Ihe prevention and deteclion of Iraud and olher irregularities. In $0 f¥ a$ the tfustees are aware-. there is no ielevant audit inftwrnal￿1n of which tF* ¢harilable ¢ompany'$ aLKlitor is ￿n￿are,. and Lichfield Garrick Thealre Trustees. Annual Report Year Ended 31 July 2023 lh8 trustees have laken all steps Ihal they oughl lo ha￿ taken to make themgel¥es aware ol any relevant audit inforrnation and to esta￿LSh that the atsdst￿ is aware of that information. Dls¢lo$ur¢ of iTrft¥rmatiOlI to th• audltor¥ We. the directors of the coryany who Olf￿ at Ihe date ol woval of these F4nan¢ial Siaternents a5 Set out *)ove each confiim. so lar as we *e ¥4¥are. Ihat.. there is no re￿vant audit infoTmal*)n of which the eompany's auditors *e unaware.. and we ttave iaken all the steps that we I￿ght lo have taken as directors in order to make ouiselves aware ofary r¢￿V￿1 audit inlormotw and to ests￿l$h Ihat Ihe company's auditois are aware of that information. On behalf ol Ihe board D J Hill. Acting Chalr of Trustees Date". 19102r2024 Hackeryoung UMVHatk*rYr¥Jny ILP Lichfield Garrick Theatre Independent Auditor's Report Year Ended 31 July 2023 Opinion We ha¥e auditedlhe finanoal slalemenls oFLthfidd Garrick Theatre vhe'pa¥enlcharilab￿ company l atKI ils 5utssidiafies Ilhe'9roup'l for the year ended 31 July 2023 whth comprise the Con￿￿￿e￿ Siaiemenl ol Finanaal Aclivities Ilncluding Ir￿Me 8nd Expendilure Ac£ounll. Consolwjaled 8aL4nce Sheet. Chariy Bala￿ Sheel. Consolidated Slalemen¢ of Cash Fbws afid noies10 fin￿la1 siatemenis. i￿[￿J1￿) a sumnwry ol s￿nifiCant acc￿J￿11ng ￿lueS. The financial reporting framework that has been applied ift Iheii preparalion is applKable Liw and Uniled Kingdom Accounling Standards. Induding Finanrial Reporting Standard 102 The Finanrial Repjrting Standard app*"cable in the UK and Rewblic of Ireland {Uniled K￿￿d0ffl Generally Acceptetl Accounting practi￿). In our opinion Ihe financial siaiement> give a Inje and fair *ew ofthe stat¢ ol the gtoup's olthe pareni ¢th3ril3ble cotnpany'$ affairs as at 31 July 2023. and of the group's i￿1￿9 le￿ICES and app￿￿ti*l ol ￿$￿[Ce$. ind￿Jing its Inc0ft￿ and expeThYllu￿. lor the year Ihen ended" h2¥e been property wepared ￿ ar£ordan￿ wilh United ￿'Tr9d￿rn Generally Accepted ACC￿￿1¥1Y P¥acli¢e: and have been prepared in 8r£ordance ￿th the requi￿￿￿en15 of Ihe Companies Act 2006_ 8asis for opinion We cD￿lL￿ted our a￿j11 in att0rda￿e wrth ln1einai￿naI Slandards on Audi￿￿9 (UK) {ISAs {UKII and applicable law. Our responsibilities undef ihose sland3rds are described in Ihe Autlrtorfs ￿SponS1t$llII￿s for lhe audit of the finantsal sialemenls 5eclion ol Ouf report. We are independent of the 9roup and ￿rent charitable company in accordance wilh Ihe ethical requirements Ihal ale re￿vanI to our audit of Ihe finanoal slaiemenis in the UK. irsduding the FRC'S Elh￿21 Siandafd. and we have fijffilled our other elhical ￿s￿)nsIl￿l1t•es in accordance wilh Ihese wUirem￿ls. We believe Ihal Ihe audil evidertt we have obtained 15 Sutr￿￿￿1 and appropriate to wowde a basis lor ￿ ow#)n. ¢on¢lUsi￿$ ￿tatin9 to 90in9 concern In auditing Ihe finarfial siaiements. we have corK4uded th* the Irustees. use of the concem ba*s of accounting in Ihe preparati￿ of the financial slateM￿l 15 apprOp￿te. Based on Ihe work we ha¥e performed. we have ￿en11r￿ any material uncgrt8in1￿S re181irrtJ to ￿entS of cotylilions Ihal, Individually or collecinfely. may casi $19nifKanl d￿1b1 or¢ the group or parenl charilable company's abilily to continue s a 90ing ￿nCe￿n foi o ￿k)j OF al leasl Iwdve ￿)nIh5 IrL¥n whw Ihe Financial s￿leMen1$ are aulhorised lor issue. Our respons4jih.lies and the ￿SpOns￿"￿t*S ol tr trustees with resFed to gc4ng mncem are ￿8￿bed in the relevant secltoThs of Ihi5 report. Olh•r infc+rmalion The ott￿r infomialion comwi5es Ihe inlo¥rnal¥on induded ￿ the 8nrwal iepfml olher Ihan financ￿1 slalemenls and our audilor's report Ihereoa. The trusiees ale respon*We for the olhef in1￿1n81￿)Tr contained wlhin Ihe slalemenls. Our opinion on the Iioancial slalements does not Ciy4er Ihe other Inlorn￿1￿n and, except lo the exlenl olhenwise explicilly slated in our rewt. we do not express any form of assufarxe condusKJn Ihereon. Our responsibi&"IV Is lo re•J the olher informath?n and, in dLX"ng 50. ctX15Kler whether the olher infomialion ts tnalerially Inc￿>$1￿1 with the fiftancial slalements orour kmv*dge obiaÈned in Ihe course of Ihe a￿11. or olherwise appears io be maleiially missl*ed. 11 we iderslify such malerial inconsisleooe5 or appaietkt male1￿1 misslalemenls. we a￿ required 10 deleimine whelhe¥ tI￿re is a material missiaiemenl ln the ffinanoal slalemerts or a malerial nThsslalemenl of ihe tslher inforrnalion. If, based Ihe work we have perf￿￿d. we o)Th*J(k thal there is a mglefial mi$sialemenl of Ihts other inforrnalion, we arè required to repom Ihai faci We have mlhing lo iepjrt in Ihis feg3rd. Hackeryoung IJIIY HKknwYvJn9 IlP 1¢ P** R¢:. (￿rtered Accwniants Lichfield Garri¢k Theatre Independent Auditor's Report Year Ended 31 July 2023 Opinions on olher matt•rs pre5crib￿ by the ¢ompanie5 Act 2006 In our opiN)n. based on the ￿[￿￿3￿en in the tourse ol Ihe audl. the InloFmalv)n given in the t[￿tees. (Iroyrwiing the Strate￿ Wl for the financi81 Year1￿ wh¢¢h the fina￿la1 slalemenls are prepared ￿ ¢xn%slent with the f￿anCIal Stslements." aThJ Ibe Irustees. report {ttKLwiraiing the strateg1¢ rep(wtl has l)een p￿pa￿ed in accordan￿ ￿th aptyicabk legal requiremenls. Matters on whi¢h we a￿ ￿qUIred to report by exception In Ihe l¥Jhl olour ktLowkdge and understanding olihe group a￿& pareni ¢*affttab￿ c4Jnpany and ils erniironmenl Dblained in Ilp course of the aL4Yil. we have t￿1 Ktentif£d maierial mis51aiemenis in ihtr Iruslees. report. We h8ve nothing lo report rn respect ol Ihe frdlw'ng mallers ￿ rela￿￿ 10 whth Ihe Con7Pa￿e$ Act 2￿6 req￿leS us lo reporl to you rf, in ouf opiThon'. adequate accounting record5 have been kept by I1* pa￿nI Charla￿ c(mw8ny. or ￿lumS adequale out audil have not been re¢eived from branches not visited by us., or the pareni charitable company s financi￿ slalements are 10 agreement 7Mlh Ihe a¢¢ounling ￿tor￿S and returns.. or ¢ertaFn disclosures of dire¢lor$' remunerat￿3￿ spec4fied by law4￿ Tr)1 made." or we have not received 811 the inEormaiwJn ath1 ex￿O￿allOnswe fe(Nire fwour audh." Respon$ibtlitie$ of trustees A5 expbined n￿re fullyin the Iruslees. respons}￿.1111eS slalernenl sel outthi page 6, Ihe liustee5 Iwhoare also the direct￿$ of the charilaNe rx)mpar*y for Ihe purposès olcompany lawl a￿ resp￿s￿e forthe weparaiion ollhe finanoal $18lemenls and for being satisfied Ihal tl*y gNe 8 Irue aTh1 fail view. and for SL¢h hilemal contro1 as the Iruslee5 delemline is necessary lo enable Ihe preparation offinancial 51alernent5that afe Iree fromma￿[la mis5￿leMen1. whelher due lo liaud or eirty. In prepar￿9 Ihe finanaal $181emenls. the Iruslees afe resporbsible ILY asseswng group's and pareni charitable company's abI￿lY to continue as a wn9 co￿. thsdosirg. as appwle. mallers relaled to goin9 0)n￿r￿ and using the g1￿9 ¢on¢em basis of attounliTrJ Unless the Iruslees eithei intend to liquNJaie Ihe groLTrP or the Pa￿￿1 ch8r1￿￿re conwany or 10 cease operalions, or have Tr) realislK allernabve iwl lo do so. Auditor's responsibllitle5 lorihe audit of the financial statements Oui objeclwesare to obtain reasmableassvrance ablud whether the finartra stalements as a who* ￿ freelrom material misslalemenl. wheiher due lo Iraud or err￿. and lo Issue an audilofs report thal IrKlude& our 0￿￿￿n. Reasonable assurance is a hi9h leyel of assurance. bul is not 3 guaranlee that an aL*8it conduded in accordarte walh ISAS IUKI wkll always delect a malerial rrrisslalernenl when it exisls. Mlssiaiemenls can arise frtyn fi3ud w er(￿ and are cw5Kkred material if. indNhluallyor in Ihea99re9aie. Iheycwkl rea5￿a1*Y be i0￿fi￿)re It* e¢Onl￿￿deaw)n$ofU$el$ taken on Ihe basis ol these finawal ￿ateMents. Ir￿g￿larI¢1es. ¥idudiThJ Iraud. are inslavces OF noTrc(mpliarte wilh k*E and wublions. We design prc¢edure5 in bne wilh our responsitmlities, out11r￿d ab)ve. lo detect malefial misstatements In ospecl of i[￿Ulari11es, induding traud. The extent to which our procethKe5 a￿ L>pable ol deieciing irre9ulafrJies. itKJut1ing loud is Llelai￿O below." Our approach to NJeniify"ny and assessing Ihe risks of Malw1￿ miss￿￿￿1 ￿ fespecl of Irreg￿arlIie$. ir￿ludirrfJ Irau¢Y and n0n.cefflpllan￿ with laws and re9ufatws. vras as f￿￿￿.. the engagement partner ensuFed that Ihe enga9emenl leam c£4edNety had Ihe appropriate COmFele￿e. ¢apabililies and skirts to Klentify or recognise ￿￿MPlian￿ I￿(h ap￿￿ble I￿S 8nd regu181ions.' we Identified the laws and regulations applicable lo the c(xnpany through discussions with direclofs and other managemenl. and from our commer031 kn￿edge arKI expetience of the seclor.. anLI we lo(uged on laws ano re9ulaiv)ns which we cmsideied may have a direct material effecl on Ihe financial slalemenls or Ihe owat￿n5 of the company. I￿￿ludI[￿j Ihe Crynie5 Act 2cx)6, lax31￿ ￿giSlat and data proleclion, ernploymenl and l*allh and safety legi*atK)v. Hackeryoung UIIY NJ¢kov ".Li*JrnNwl GG8 Lichfield Garri¢k Theatre Independent Auditor's Report Year Ended 31 July 2023 We assessed the susceptibility ol the ¢Jynpany'$ fwnrial Ststen￿nts to malerial fflisstatement. ￿udIng obtaining an u￿*ersta1xJIr￿￿ olhow fvaud might ccoJr, by.. makin9 enquiries ol ttTanagement as to whefe Ihey considered Ihere ¥Ya$ sts5ceptitxfjly 10 fraud. their kfiowtedge ol actual. 5U5pecleMe and expernliiure is suffi¢￿ntwrth Ihe level of reserves for the charity lo be able to conmtse as a wng wncefn. Ipl Judgements and kèy sources of èstlmatlon uncertalnty TheTe h8ve been N)ju(Jgements lapartfrom those involvin9 estimalesl made in the process of applyin9 the above accouniing policies that have had a signifK8nl ellect on amounts re¢(NJnised in the financial statements. There are no key aSsumpti￿$¢0nc0rnlng Ihe future and olher key 50ufces of estimation uncerlainty at the reporting dale that have a signifi1￿nt risk ol caus1￿j a material adjustment lo the carrying am￿￿1$ ol assets and liabilities within the next financial year. Income from donatlons and 18gacies 2023 2022 Oonallons 29,124 20,163 29.124 20,163 Income from donab¢Ms and kga¢ies was £29.12412022- £20,163) ofwhich £4.96612022- £nil} was altributable lo reslricled and £24.15812022 - £20.163} was attsibLtsble to unreslrthd lunds. 19 Llchfleld Garrick Theatre Notes to the Financial Staternents Year Ended 31 July 2023 Income from ¢h•Titsble activtties 2023 2022 ProductIC￿5 Technical, marketir¥J & b(xikirwJ fees Thealrelroom hire Retsil commissK)n & vouchers Grants Li¢hlield Dislricl Co￿n¢11 Straleg￿ partnership agreement Memberships Other 2.222.876 354.593 75.445 14,985 9,$47 190,C 4,953 16,225 1.589,999 280.866 61.856 12.508 22.133 236,667 3,057 52,126 2.888.624 2,259.212 Grants rrfeived. included in the *Jove. ¥e as folknws.. 2023 2022 Lichfield Di8tricl Council Covid-19 Supwrt Lichfield Dislricl Cotsncil- Wam Sp8ce Other 9rants 6,(100 3.500 6.047 16,133 9,547 22.133 Incoftk from charitable acti¥ib"es was £2.888.624 {2022- £2,259,212) 0f￿h￿h £9,04712022- £19.6331 was altr1bUtab￿ to restl￿ted and £2.879.57712022 - £2.239,579) was attributable lo slri¢ted fLmds. Incomo from other trading activities 2023 2022 Sponsorships Green Rc*yn trading income 19.408 326,990 12,807 230,053 346,398 242,860 Incom& from other trading &by￿"e$ was wh￿ty att[itr￿tal￿¢ lo unre5tricled funds. Income from Investments 2023 2022 Inleie51- deposits 26.604 1,202 26.604 1,202 Income from investments was wholty attTibLrtabte to Un￿$tr￿ted luThJs. 20 Lichfield Garrick Theatre Notes to the Financial Ststements Year Ended 31 July 2023 Attatysl$ of •xp¢ndlturo on charllable activities 2023 tivities undertaken directy Support C4Y31$ Total Theatre 2.694.058 152,425 2.846.463 2,694.058 152.425 2.846.463 £11.348 01 the above cosls were attributable to ￿$trIcted hJr#Js. £2.835.115 01 ihe aL￿e Costs were 31tributsble to un￿￿"¢led fvnds. 2022 Supp)rt costs Total undertaken directy Theatre 2.120.692 129,257 2,249.949 2,120.692 129.257 2,249.949 £170.109 01 the above costs were aitributable to ￿Irthd funds. £2,079.840 of the above ¢osls were allribulable to unrestri¢*d funds. Allocalion of $upp¢xl costs Support cost. 2023 Basis ol alkKats"on Raising fvnds The81 Total GOVernar￿ (note 81 Finance Informats"on technokw DeFwialit Health and salety Penston contribut*Jns 4.61S 8.3 30,671 5.340 15,701 22,801 6.290 15,295 56.327 35,286 13.696 15.701 22.801 6,290 15.75S 63.843 7.516 Total 20.947 152,425 173,372 The support costs for Lrtilities for rasing lund5 are made up ol the ovetheads apportiotw and recharged to Green Room based vpon the percsnlage ol flc¥)r space wcupied within the shared premises by the Green Rwm. The £20,947 of support cosls al￿11ed Io Taising funds is included within lolal expenditure on raising tunds of £197.117 on the face of the Ststemenl of Fmarscial Activities on page 12. 21 Lichfield Garrick Theatre Notes to the Financial Ststements Year Endod 31 July 2023 Support cost- 2022 Basis of allocation Raising fijnds Thealre Total Governance {nole 81 Finance Information teChr￿lO9Y Oeprecialion Health and safety Pension contn"butions UlilitÈs 20.781 4,771 9.803 33.948 6.290 11.9 41.669 24.241 15,138 9,803 34,492 6,290 12.206 47,234 10.367 545 210 s.￿5 Total 20.146 129,257 149,403 The support costs for tsbhties for raSsirrfJ fvnds a￿ made up of the overheads apwrtioned and retharged to Green Room based upon the Fercentage of floor Space occupied within the shared premises by the Green RcK)m. The £20.146 of support fX)sls all¢xaled lo raising funds is included wilhin lotal expeThjitU￿ on iaising funds of £155.455 on trE fa￿ of the staten￿nI ol FinatKial ActNilies on page 11. Go¥•rnance costs 2023 2022 Audiloi's remuneralKJn Legal and profesS￿nal fees 10 18,390 16.89S 15.606 8.635 35.286 24.241 Net income for the year Nel ir￿rne is stated after chargir4J'. 2023 2022 De(¥ecial1L￿ oftsngible ftxed assets 22.802 34,492 Hire of plant and equipment 19.735 15,800 22 Lichfield Garrick Theatre Notes to the Flnancial Ststements Year Ended 31 July 2023 10 Auditor's r•muneration 2023 2022 Fees payatle to the charity's auditor for the audit of the charity's annual accounis 9.620 7.950 Fees payatle lo the charity's audilor for olher seNres.' Audit ol the Charity's subsidiaries Examination ol grant daims Taxati)n advisory AGccuntsncy 4,030 3.460 750 531 2.915 7,656 1.500 3,240 8.770 Total auditorfs remuneration 11 Trvste•s' and key management personnel remuneration and •xp•n$¢$ The trustees neither received nor waived any reMUneratiC￿ during the year12022 - £nill. The lolal amount of empbyee benefi15 receNe(J by key m￿agement Ferwnel is £321,975 12022- £230.625). The Trust constders ils key rnana3ement Fersonnel c4Jmprise the Art￿￿"¢ Drreclor & Chief Executive and department heads. The Iruslees had no expenses reimbursed during the year or the wevious year. 12 Staff ¢osts and •mployee bgn•fits The average rTh)nlhty number of employees duiing the year was as follows". 2023 NLAnber 2022 Numtr*r Raising lurbJ5 charitab￿ activities 14 61 To 77 23 Llchfield Gaffick Theatre Notes to the Financial Statements Year Ended 31 July 2023 12 Staff costs and employee bènefits lcontinuedl The totsl staff costs and employees ber￿ffits ¥Rre as foll¢YWS'. 2023 2022 Wages and salafies Coronavirus Job relenlKJn scheme In(X￿ Social secuFIty Pen$￿Tr Costs (note 23} 877,999 715.278 15.2481 46,779 12.206 61,372 15,755 955,126 771,015 No em ￿0vee$ iec8Ned total empkjyee t￿efitS (excluding employer pension costs) ol more than £60.000. 13 TangIb￿ fwed ass•ls- Group Land ¥ I￿Ik11r￿S Fi￿￿re5 arn1 rrfti Soft*J•re Totsl Cost or valuats'on.. At 1 August 2022 Addition5 At 31 July 2023 53,254 247.125 5.883 9,651 59.137 256,786 91,057 4,103 95,160 11.510 402.946 19.647 422.593 11.510 Oepreciaiion.. At 1 August 2022 Charge loi the yeav At 31 Juty 2023 22,185 227,368 3.684 12,267 25.869 239.635 81,4S8 6.851 88,309 11,S10 342,521 22,802 365.323 11.510 Net book value.. Al 31 Juty 2023 33.268 17.151 6.851 57.270 Al 31 Juty 2022 31.069 19.757 9.599 60.425 The net l)ook value of L4nd and buildings corry>rised'. 2023 2022 Land Long leaséhold imwovéments 26.000 7.268 26,000 5,D69 24. Lichfield Garrfck Theatre Notes to the Flnancial Slatements Year Ended 31 July 2023 13 Tangible fixed a$s•ts {¢ontlnuedl- Charlty Ind afvj Equ¥%￿ filiures bwbJir4s aThJ rrftirys Total Cost cy valuation.. Al 1 August 2022 Additions Al 31 July 2023 53.254 247.125 5.883 9.fA1 59.137 256.786 81.318 4.103 85.421 6,950 388.647 19,647 408.294 6.950 Depreciation". Al 1 August 2022 Charge lor the year Al 31 July 2023 22.185 227.368 3.684 12.267 25.869 239.635 71,720 6.851 78.570 6,950 328,223 22.802 351,024 6,95C) Nel book Val￿.. At 31 Juty 2023 33.268 17.151 6.851 57,270 At 31 July 2L122 31,069 19.757 9.598 60.424 The net took vajue of lafid and buiK1ings comprtsed.. 2023 2022 Land Long leaseh(Ad improvements 26.000 7,268 26.ONJ S.C69 14 Flxed Assel Inve$tTh•nts - Company Shares in group undertakings Cost ty Valuati￿.. Al 1 August 2022 & 31 July 2023 Nel book value." Al 31 Juty 2022 & 31 July 2023 The￿ investment assets ¢)uts*Je th9 UK. The Charitab￿ cornwy owns the entire share capitsl of Lichfield GarrKk (Green Rcom) Liffiled and Lid)field GaNKk PrOdUdK￿S Limited. companie5 inccwpor*d in England and Wales. The principal aGlivity ol Li¢hfield Garr￿ (G￿en Room) Limiled is the OFeration of the restauranl and bar facili￿ at LKhfiekl GarrKk Thealre. At 31 Jvly 2023 company had nel assets of £37.09912022.. £4.6841. The prinapal actsvity ol L￿hfield Garrick ProrJucl￿J1Ls Limrted is Ihal ol a thealce prc*Juction company. Al 31 July 2023 the ecffnpany had nel assels of £112022- nel assets of£l1. 25 Lichfield Garrick Theatre Note8 to the Flnanclal Staternents Year Ended 31 July 2023 IS Sfock¥-Group 2023 2022 Green R¢xyn 1 S,070 11,514 15,070 11.514 Green Room slock helj B for rai%ing funds. The Theatre does not hdd slrfk. 16 Debto 2023 Group 2023 Charity 2022 Group 2022 Cha¥ity Tiasje deblws Prepayments arKI accrued income Other deblfxs Amounts owed by subsidiaries 16.079 329.777 56.253 16.079 59.402 56,253 444.W)2 823 181,486 18,945 709 88,562 18,945 271.897 402.109 576,636 201,254 380,113 17 Crediior¥: amount$ falling due withln one ye•r 2023 Gf¢JJP 2023 Charity 2022 Group 2022 Charity Trade credilors Accruals 8nd deferie(J inco Other creditors Social security & other taxes 195.883 1.063.511 43,913 37.975 187.965 1.046.157 43.460 29.308 103.540 617,154 50.540 39.164 94,069 602,662 50,333 31.536 1.341.232 1.306.890 810.398 778.600 18 Leases Operabng leases- le￿e Totd future Thmnimum lease payments undef non-cancellable operaling leases are as lolk)ws." 2023 2022 Not latsr than one year Later than ￿e and not later than five years 5,179 13,659 5.610 15.716 18,838 21.326 26 Lichfield Garrick Thoatre Notes lo the Financial Statements Year Ended 31 July 2023 19 Deferred In¢omo Total At 1 August 2022 Amount ¥elea$8d lo the SOFA during ihe year Amount deferred in the year 499,515 {488.4751 938.310 At 31 JU￿ 2023 949.350 The amount delefred in Ihe year relates to Iheatre show5 that have Occur￿ after the year end. 27 Llchfield Garrick Theatrè Notes to the Flnancial Statements Year Ended 31 July 2023 20 weconciliation - Group Unrestrlcled fundB- 2023 Balance at 1 August 2022 Other gains I Ilosse$} Balance al 31 July 2023 Incon* Expenditure Transfers General fund 518.288 3,276.737 12.931,5821 1409,969} 190.059 643,261 Deslgnated funds: Theatr￿1 equipmeni fijnd 296.383 (7.5261 288.857 Bus1r￿sS fjevdopmenl fvnd 30.0 30,0 Produ¢lKJn development funo 50,000 Legal cosis fund 39.000 39,0 Repaits & maintenance nd 58.370 16.238) 50.0 102.132 Educats"on & community lund 53.815 153.8151 85.323 85,323 Econom￿ value of cawtsl assets designaled to future periods 34.426 122.W21 19.646 31.272 Green Roorn refurbishmenl fund 25.C((J 25.000 Cawlal improvements lund 110,C(101 255.CQO 300,000 1,160.281 3.282.526 13.032,2321 190,059 1,594,845 28 Li¢hfield Garrick Theatre Not•s to Ihe Financial Statements Year Ended 31 July 2023 Unrestii¢t•d funds - 2022 Balan￿ at 1 August 2021 Oth gains I Ikjssesl ealance at 31 July 2022 IwJn* Exk*ndrtLwe Translers General fund 365.632 2,503.804 (2.150.247) 1275.1221 74.221 518.288 Designated fund$: TheatiKal equipment fund 152.933 16.550) 150.000 296,383 Business development fund 50.O¢X) (20.OLM)I 30.otrj ProdUct￿n (kvelopmenl fvnd 25.000 so,000 Touring development fvnd 25.000 (25.C¥)01 Legal costs lund 39.OtX) Repairs & maintenance fund 42.5(Ll 14.1301 20.000 58,370 EdvcatK)n & Ct)mnxJnity ftjnd 40.420 (40.420) 53,815 53.815 EcOnOrn￿ value of capital assets designated lo future periods s2.￿6 133.9481 16,3D7 34.426 Green Room ielurbishmenl fund 25.000 25.000 Capit81 improvements lund 55.CVJO 55,000 817.551 2.235.295 74.221 1,160.281 29 Lichfield Garrick Theatre Noles to the Finan¢lal Statements Year Ended 31 July 2023 R8strlet4d funds - 2023 83larKe 31 1 August 2022 Olher gains I Ib55esl Balance at 31 Juty 2023 Incoft Expenditure Transfers Ralhbone Tiust I McLay 1.285 11.2851 Caption Carr¢)a@n 69 69 Swinfen Broun Charitable Trust- Lift 2,500 2.SOO Mary Slaler- Lift 4.000 Edward C8dbury - Lift 4,000 4,000 Wafm Space- Lichfield Communrty Lollery I1.C￿l Wami Space- City Council (2.5CKII Warrn Space- Donations 3.385 (3.3861 Sebbie Hall Kindness Foundation~ lamily lthets 1,WO (S￿) 500 Communty Foundation of Staffordshire- Garr￿k 20 1,C(JO 1.000 The Community Foundation of StaffOrdshi￿ - Ukrainian hlm 1.547 1.547 Swinfen Broun Charitable Trust- Archrtecl DesvJn {2.OLXII Liehfield Garrick Theatre Notes to the Financial SL•tements Year Ended 31 July 2023 Famity ts"¢kets- Oecernber 2022 (5501 Famity tickets - t)ecember 2023 170 170 Garr￿[20 projeets 735 735 Spcnsor a Costume (Wnd in the Wluowsl 127 {1271 11.854 14,013 (11.3481 14,519 Restrlcted fund$ . 2022 Balaft￿ al 1 Augusl 2021 other gains I (105se51 Balancg al 31 Juty 2022 Incon* Expendrtuie Tianslers Rathlxsne Trust l ￿LaY 41,280 12,9951 1,285 Garrick Charitable Trust 2.500 12,500) Sainlbury Trust I3.￿0) Garrick Cares At Chrtstsn8S 709 1709) Caption caMpa￿D 69 Coronavirus Job Retention Scheft 15.248) 5.248 Swinfen Broun Charitable Trust- Lift 2,5 2,500 Grounthvorks- Tesco- Comm Muxal 11.0001 ary Slater- Lift 4,000 31 Lichfield Garrick Theatre Notes to thè Financial Statements Year Ended 31 July 2023 Edward Cadbury- L 4.000 Arts Counal {135.0241 135.024 Holiday Activities Fund 2.274 12.2741 Sir Barry jacks￿ Trust EY 2.435 {2,4351 The Strassei Foundatson- EY 250 {2501 Kickslart 7.353 17.3531 Lichliel Dislrict Council (Omi¢ronl 6.Q)O I6.[￿)0) HMRC- SSP fe COVID 321 {3211 SCC- Young Rep 1.000 {1.1￿) 22.058 19.633 1170,1091 140,272 11,854 Fund de$¢ripti¢n$ Restrfcted funds The Ralhbone Trust l McLay fijnd was to suppjrt den￿ntia fI￿ndty cine￿￿. The Arts Couficil Grant was provhjed as emergency fundiNJ in response lo the res￿tic￿$ imposed as a result ol cOr￿avIN$ pandern￿. The Garrick Charrtable Tiusl fvnd ￿4$ a grant for the YouTrJ Director Scheme. The Saintbury Twst. Sir Barry Jackson and the Strasser F￿nI?ti0ft Ivnds were loi the Early Ye￿$ Christmas Show Tour. The Garrick Cares at Chrislnw lund were dOnat￿rIS raised towards the É8fty Yeats Toui. The Caption Caffpaign fund were donations raBe(I to sUp￿rt captioned Perf￿marKe5. Mary Slaier. Eoward Cadbury Swinlen Broun funds were grants raised IDwaids the wrchase of a new platforrn lift. The Lichfield th'stncl Ctsjnol grant was emergerq Cov*J-19 supwt 32 Lichfield Garrick Theatre Notes to the Financial SlatsmontS Year End•d 31 July 2023 The Gioundworks- Tesco funding wa5 for a community mu5ic31 pwJecL Coronavlrus Job R8t6ntion sche￿ was a C&JVernrr￿t stheme to a￿$1 with employment costs during thè Coronavirus pandeTr￿. Kickslart was a Government scherne lo asst5t wlh creating jobs for Y￿n9 reople on UnNersal Credit folknwin9 the Coronaviius pandem￿. HMRC SSP was a Govemmenl scheft￿ tofund SSP ircurred as a resullolS￿knesS due to Co(onaviNs. The HolKlay Activilie$ hjrtd was a grant lo provide actNth"e5 for thi[d￿n during thè schcd holKlays. Thg SCC-Young Rep fvnd was a 9r8nl re¢eNed Irom Staffordshye County Countyl lo assist wilh the Young Rep programme. Warm Space- Lichlield Coff¥nunty L(Itery- was a grant knvards the operation ol a Warm Spa¢e al the Theatre. Warm Space- City Council- was a granl towards Ihe operat￿n of a Warm Space at the Theatre. Warm Spa￿- Oonabons- were donati¢)ns reCep￿d from ujstomers lowards the oper81K)n of a Warm Space at the Theatre. Sethe Hall Kindness Foundat￿ - family trkets- was o grant lowards the Chnstma$ ti¢ket appeals lor 2022 and 2023 which offers ttckets via l¢xal charib.es lo Gl¥"Id￿n and young people who would not be able to attend without a free bckel. Community Foundab"on of staffordshi￿ GaNK* 20 projects - was a grant lowaids Garfick 20 - a pf￿ran￿￿e of community projects. school projects and wort. The Conmrunity Foundation ol Staffordshire Ukra￿ran film rrfqect - was a grant from the New Communities Resettlement schen￿ towards ￿ sc*eening ol flms dubbed in Ukrankan for Ukrainian refugees. Swinlen Broun Charitable Trust- Architect Design- wa5 a grantlo eoverarchitect fees for a redesign of ihe front of house spa￿S in the Theat￿. Famity I￿￿et$ - December 2022 - were custrHner donations towards the Chfislmas ttd(et appeal whth offers y￿ketS vTra local charities lo chiklren and FeOF* who would not be alle to attend withoLJI 8 tree lickel. Fa￿llY I￿ketS - December 2023 - were customer donations towards the Christmas ticket appeal whth offers lickets via local charitses to chihjren and young peo￿ vtho woukj nol be able lo allend wilhoul free tickeL G8rnck20 Projects-were¢ust(Mnw donalv)ns towardsGarrrk20- a prcsramrre ofcknmunity projects. school projects and work F4acements in ¢e￿t￿•t￿)n of the Garr￿4.5 20th bll1hday. spons￿ a Costume in ￿ WlkAvsl-were cuslomerdonalions tchvards Ihe costs of ¢ostumes for Wind in the ￿l￿w$. Designated fvnds The designated fvTrnds reprewt allocat￿fi$ of general lunds 19 alkN for e55enlial Ihealrical equipment replacement, business development. prtsyuthon ¢Jevelopmenl, touring devekspmenl. legal cosls. repairs and maintenance, education and comrwnity aclr¥ilies, Green R￿rn refurbi5hfflenl costs and capital improvement projects. 33 Lichfield Garrick Theatre Note$ ¢0 lh¢ Flnanclal Statements Year Ended 31 July 2023 The econornic value of caprt81 assets designaled to future pemds ￿preSentS the nel L￿k value ol the Charity'5 ffixed a5se15. exduding land. lo ￿ depr￿lated through the Statemenl of Financial Activities in ftrture accounting periods acros5 their usefvl econom￿ irte. General lund The general fund represents unrestricted lunds availabfe to eovef ongoing operalK)nal exFendilure. Analysls of n•t assats belween funds Unrestrthd funds [les￿Jnaled nds Restricled funds Total Fixed assets Cash at bank hand Curient assets Cuirent lL?￿l￿1eS Total 57.270 1.510.044 417.179 11,341.2321 643,261 57.270 2.47S,147 417,179 11.341,2321 1,609,364 951.584 14,519 951,584 14.519 22 Reconciliation ol net Incom• to net cash Ilow from operating a¢tl¥itlg$ 2W23 2022 Net incomè I lexpendilurel fc* yeaf befofe transfers be￿n ￿￿15 Inte￿$t feceivab DetKecralion and Impair￿￿1 of tsngible fixed assets Provisions less pay￿￿￿15 Ilncreasel I decrease in stod( Ilncreasel I decrease in debtors Increase l {decreasel in creditors 437.229 {26.6041 22.802 332,526 11.2021 34.492 {3.5561 I2(￿.855) 530.834 {4.3861 9,482 223.861 Net cash flow frorn OFerab"ng ￿ti¥ll1e5 759,850 594,773 23 Pensions and other p05t-retirement beMfrts The charity operales tK>lh a defined c0ntsibth1r￿ and a defi￿d benefit pension plan lor ils ernployees. (See nole Ilml lor delailsl. The defined benefit pension plan was onty open lo TUPE employees and the final elgible ern￿oYee resBned dumg the year ending July 2021. The arnount recognised as an expense in the ￿ri0￿ was £15,755 {2022 - £12.2C61', £15.75512022 - £12.2061 lor the defined contn"bulion scheme and £nil12022 - £rnll lor Ihe defwied benefit s¢heme. Lichfield Garrlck Theatrg Notes to the Financial Statoments Yèar Ended 31 July 2023 T17e defined conlribulion liability is alkxale(l Eo unrestricte¢ luTrJs. Related party transaclions The group has taken advantage ol the exemFion fc* the requireTr*nts lo dI￿105e Iiansaclions with group coryanies elimsn8led cffl cOnSd￿abOn. The Council provides funding lo the Theatre and had one Trustee ￿Presentat￿e on Ihe Board. In thè year lo July 2023. the Theatre (￿1ve￿ £3.51Y) {2022 - £nl} in Warm Spaces grant lundin9, £Thil12022 £6,000) in Covid-19 supwi grant fijnding and £190.IXQ 12022". £236,657) undei a slrèiegic P8rtnership agreement. The Theat￿ purchase