Company Reglstratlon Number 07972082 (EnglarKI and Walfrs) Charily Number 1147697 UCHFIELD GARRICK THEATRE IA company Ilmlted by guarantee) REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 OIJZB•Z 2710Y2025 C(*APANIES HOUSE
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LiGhfield GarriGk Theatre Financlal Statements Year Ended 31 July 2024 Contents Page Charity Reference and Administrab"ve Detals TnBtees' Annual Rep)rt Independent Audilorfs Report Consolidated Statement of Financial P£tivities (IncludirvJ Income arKI ExperKliture Account) 12 Consolidated Balance SI1 13 Charity Balance Sheet Consolidated Statement of Cash Flows 14 15 Notes to the Financi Statements 16
Lichfield Garrick Th&*re Charity Reference and Admlnistrative Delalls Year Ended 31 July 2024 Charity registration number 1147697 Company r•glstration number 07972082 (England and Wales) Trustees D F Baker (resigned 26ffj9120241 P A Carter {resigned 13106120241 O L Pexh {resigned 0111212023) W R Smith (resigned 0711112023) J M Beaumo N E Haarn OJHill S C Price ELRyan E R Shouler N Panti-AnN)a lapFointed 13rtW2024} . D M Baker {appointed 13106120241 A Grace lappoinied 13106120241 S Taylor (appointed 1310612024) A C Farrell {appointed 26109120241 Chlof ExKutlva Offi¢•r D J Bud(royd R•gist¢red 0ffi¢o LKhfield Garrie Casde [ke field Staffordshire VIS13 6HR Auditor UHY Hacker Young 14 Park R¢YW Notb"ngham NG16GR Bankus HSBC 49 Market Street chfield Stsffordshire WS13 6LB
Lichfiold Garrlck Theatre Trustees, Annual Report Y•ar Ended 31 July 2024 The Trustees pSent their wport and Ihe"audited financial statements of the Charity for the year ended 31 July 2024. The Trustees have adopted the provisions of the Slatement of Recommended Practice ISORPI "Accounting and Repofling by Charities. IFRS 102) preparing the annual report and finanoal statements of the charity. The financial statèments have been prepared in acCOrdar with the accounting polic5 Sel out in notss lo the accounts and 0)mY with the tharity's govemin9 de<umwtt. the Chanliès Act 2011 and Accounting and Reporting by charitS.. Stalement of Re(MMended Practice applicable lo charities preparin9 their accounts in accordance with the FinancK41 Rek)orb"rg Standard appkable th$ UK aThJ Republic ol Ireland second edition published in October 2019. Trustees of the ¢harlty The directors of the CharItse company are ils Irustees fc the purposes of Charity w. The trustees who have s•rvèd durirwJ the year and since the yew end were as follthvs: O F Baker Ifesign8d 26109120241 P A Carter (resigned 1310612024) D L Peach (resigned 0111212023) W R Smith (reSned 07111r2023) J M Beaumont N E Haslam DJ Hill S C Price ELRyan E R Shoul N Panti-Amoa {appoiitèd 13K6r2024) D M Baker lappoinled 1310612024) A Grace lappc4nled 13106120241 S Taylor (appointed 13106120241 A C Farrell (appointed 26109r20241 Obl•ctlv•s and actl¥ttS•9 The objectives and aims of the arity are the adVanCerrt of the arts the benefft tsf the publi¢. fft particular through the operation of the Lr1 Garrick Theatre arm1 the advancement ofeducation in letion lo the arts ftr the b8n8fft of the public. Pub15c benefit statement Th• Trustees set and pLin actiwties having regard to the Charity c¢)Thwnls5n's guidan on pth4ic b¢nefrt. incI1ft9 the guKlanee on athnission charges to prraMme events. Achlevemonts and performance Th8 year endlng 31 Juty 2024 saw a 27% year-on-year growth in ficket sales and a SnCan1 increase in income. This was driven by a continued expansion of the number arK1 range of perfom)ances offered during the year, exceptional audience feedback trartslating into strong relum twking5. and increased investment in marketin9 attracting hvjh lèvèls of first-b.me attenders. Christmas 2023 provided a PartUlar hvjhlighl by breaknng 811 box office records (yet again) wth over forty-three thousand peopbÈ visitiny the vènue in a six-week period. Duri the yaar, thè theatre also corneted an independent govemance revw and recruited a number of new trustees to bring the charity's B¢)ard ba¢k up to full strength. Thè or9anisatron also published a dYnarn new five-ye8r business plan, massively inueased its work in schods and cotheges. launched a 5tr810gi¢ partnèrship to iruease ¢ul¢ural engagement in Bumtwood. and dèvekjped plans for the biggest ever refurts'shment of the thtrre'$ publi¢ spaces and facilities. Workto improve bars. foyers ar tolets slarted on sile in July 2024 and was due lo complete in Seplember 2024.
Lichfield Garrick Theatre Trustees, Annual Report Year Ended 31 July 2024 Reserves policy The Trustee5 keep the $e$ of Ihe Thee regulady under review. Charity onty reserves al 31 Juty 2024 sILd at £2.021.295 and the TnJstees are confidentthal th level ofreserves 11 enable thè theatre to continue as a viat4e entity. Funds hav8 been transferred to desvJnated hjnds for capital improvwnenls. essential repwrs, education and ¢onmunity pro9r8mme devebpment and tr vakne ofcapital assets designated lo lulure peri&J$. Principal lunding source The Theatre's prinuple funding source is the revenue stream from its primary busifte$s. In addition to this, Lichfield District Covnryl supptsrts the Theatre in rètum for services to the community. the role it play5 in making L¢chfield a vibrant for I•dentS and visitors alike and in recogThb'on of the favoUrab e¢onomic impact that the Theatre has on Li¢hfield and ils surrounds. Going ¢oneem The Trustees have assessed 7fvthether thèrè arè any nffjant doubts aboLrt the Charity's abilty to continue as a going concèm. In the opinion of the Trustees the Theatre is a going cKJncem. 11 has appropriate banking facilitses in place, a very strong working relationship with trs slakeholders, strorKJly reVered trading Inco stream5, and a healthy cash Ibjw. In addition. the Trustees are not aware of any uncertainb"es. which would mean that the accounts Should It be ppared usin9 the goin9 concem basis. Pl8n$ f¢r futur• p•riods The Theatre will continue to provide a diverse. acce55ible prcgramme of hwjh-quality prof&ssional fOrMIng arts in the heart of Lichfidd, logelher with opportunities for IcKal young people, communit$ and artlsts to get involved in creative activities and contribute lo the lra1 of th• cty and its surr¢JJThJing area. structure. Governance and IAanag¢m•nt Governing document Lichfield Garrick Theatre is a registered Chanty. r89lStratron number 1147697 and also a company limited by guarantee, r89istration number 07972082. The goveming docurrent is Ihe Articles of Asso¢ialK)n of the charitable company. as amended by Spal Resdulion on 12 February 2024. lch establishes the objects and k)tswers of the ¢haritable company. In the event of the charitabk cornpany beirvJ Wou1 up ments(s are required to contn'bute an amount not exceeding £1. Re¢rultment #nd •ppolntm¢nt of n*4¥ trust••s Trustees are recruited based upon the skills and expenen¢e thatlhey hold and depeTrJent on the charity's needs and are appointed al board meetings throug1wt the year. Oryanisational $tructure The overall responsibility for Iha Charity lies th the Truste¢ Dire¢tors bvho hava d8lègated the day-toqlay management ol the Charity to Ihe Chief Executiv• Officer. The Trustee Directors meet regulaty to agree strategy, review progress, review financial information. and discuss Oi¢y issues. To facilitate effective operation, the Chief Execub've Offi[ has delegale<J authorrty wrthin temis 0fference approved by the Trustees for some operational mattgrs, in¢ludiro finance. Induetlon and tralnlng of new trustees On appointrnerbt every Trustee is provKlÈd a pack of drnents setting key infonnalKJn on the Charity. New Trustees arè required to confimi that they have studied these documents and raised any queritrs or obtained further infomiation they may need.
Llchfield Garrick Theatre Tntstees. Annual Report Year Ended 31 July 2024 Developments in Charity Law and Practi are morwlored and ImpnI devebjpments are brought to the notice of Trustees. Key Thanag•m•nQ r•mun•ratlon ' AJI dirg¢tors give their lime fredy and no de¢tor r1Ved remunerats.on ¢y bènefit for their work wth the ¢harity during the year. Senior staff refflUnerab is set competitsvely. in line with market conditions. The Board of Tru5te8s sets the Chief ExeoJts"ve Offieerfs remuneration and reviews recommendations for Other senior stsff. Related partles and prlnclpal fund5ThJ Any conne¢lKJn between Twstees and any productKJn company, actoror performer must be disdosed to the Board in the same way as any contraclual relationship with a related paty. The Charity has a strategic partnership agreemenl with the Counol who provide grant aJ. ReIpl of this grant aid supports the orrfJng operation of the theatre. The Charity has two wholty ned subwdiaries. Lidffièld Garrick (Grnen Room) Limited, which runs the cafélbar for the Theatre Lichfield GarrKk Productions L¥nited. whth kyoduces sht)ws for the Ttratre. R5sk management The trustees have a duty to ¢dentify and revie•V the risks to whKh the Charity is exposed and to ensu appropriate controls a in place to providè reasonable assurance against fraud and error. The senior manag8m8nt team and Ihe 8oard of Tnjstees regularty review risk through a well-e$lablish•d risk register. The prime risk ligs in the abiltty of the Theatro to maintain ad&quate levels of demand and financial support for the Services il offers within thè ¢urr¢nt economic dimate. In the opinion of the Trustees, the Charity has eslablished resources and review systems whKh. under rlal condilion$. $hwld allow the risk$ id8ntified by thom lo bg mitwat8d to an pIable level in its day-ttrday operations. Trust••s' responsibilities TheTruslees (who are also dire¢lors of Lthfi8ld GarrickTh8atre forthe purrms ofcornpany lawl are responsible for preparing the TNslees' Annual Report and the financial statements in accordance wth applicable law and United Krydom Accounting Standards (United Kingdom Generally Accepted A¢¢ounb"ng Practice). Company law requires the Iruslees to ppa financial ststements for each financial year, which give a true and fair view of the state of affairs of Ihe charitable company and of the incoming SoUrceS and appIation of resourcès. induding ineomè and expenditure. of the charilable COVar for that period. In preparing these financial statements. the trustees are requir to.. select suitsble accountirvJ politt•s and then appty them consistentty; observe the methods and prinoples in Ihe Charilies SORP 2019 IFRS 102)- makè judgèments and estimates that are reaSonae and prudent: slate vthether applicable UK AccoiJnbr¥J Standards have folW. subj.ect to any material departures disclosed and explained in the financial staterrents.. prepare the ffinancial slalemenls on the 9(Mng ¢on¢¢m ba$is wdess it 1$ inapprwate to presume that the charitable company will continue in operdtion. The Iruslees are Tespjnsible for kewng adeque )Unts"n9 ro¢ords that disdose with reasonable accuracy al any time the financial positson of the charitae company and enable ihem to ensure that the financial stat8ments compty with the Companies Act 2006. They a also responsibfe for safeguarding the assets of the charitable company and hwKe for taking rea50nabk 5tep5 for the prevention )d detedK)n of fraud and other irregularities.
Llchlleld Garrlck Theatre Trustees, Annual Report Year Ended 31 July 2024 In so far as the tnjstees are aware: there is no relevant audit information of which the charitable o)mpany's audrtor is unaware". ar Ihe trustees have taken all steps thal tWI OLMJht to have tak8n to make themselves aware of any relevant audit informab.on and to establish that the 74Jditor is aware of that information. Dlsclosure of Infomlatlon to th¢ dItOrS We. the directors of the crynpany who hehj offi¢e at the date of approval of these Financial Stalemenl$ as set out above each confrm. so far as we a aware, that.. thwe is no relevant audit information ofwhith the o)mpany's 3jitorS are waware., and w8 have taken all the steps that we ought to have tsken as d*ectws in order to make oursefves aware of any relevant audit infom)atn and to establish Ihat the company's auditows are aware of that infomiation. On behaf of the board D J Hill. Chalr of th• Board Date.. 3 March 2025
Hackeryoung UHY Ha¢kwYfMft9 LLP ia Ro IknWh4rn NGI GGA Chartered Aciountsnts Llchfl•ld Garrick Th•atr• Independent Audltor's Report Year Ended 31 July 2024 Opinion We have wditeé thefinanoal sts¢emwts ofLithfield Garric Theatre (the'parenttharita8 cornpany l and its subsKlian•s ltht 'group'l for the yearended 31 ju 2024 Wh c(Mnprise Ihe ConsolKlated Statement of Finantsal Acfvrties Ilneluding Incorne and ExpeThYiture Account). ConsoIKlated Balwce Sheet. Chanty Balance Sheet, Con¥olidzted Statement of Cash Fbws and notes to th8 fin3nc4al slatemenls, iJudi a summary of5nifiCant acwjnting policies. The finanal pOrtIr framework that has applied in their preparatr>n is appIab Iw and Unrted rddOM Accounting Standards, including Financial RerKJrt4ng Standard 102 The RetM)rtr9 Slandd applicab the UK aNI Rtpubh'e ol Ireland Iunited Kingdom GenpJally Accepte(l AttThJnb"rg practsl. In our0pinn the finanoal Statern.. olve a t aThJ fair Mew ofthe stale ofthe grO)'S of the parent Chantab Ixynpany's affairs as at 31 July 2024. and olthe group's inctyniry resources aprlKabon of resc¥Jrces. incaJ1r9 ts income a) expendityre, ts Ihe y•aT then endod". have prA)edy p¢epa fft ac(thance United KinWI Generaly Apted Acp)untirg p1,. and have prepared in afxrydance ith the reqUireMts of the Companies Act 20C6. Basis for wnlon We 0)rnJ ajdit in acu)rdae wlh ternanal starts on AU"n9 {lJ(} IISAS IUKII applicable law. O responsibilrties uThJer those standarts are furthw descrtsd in Ihe Ajito¢S reSponsi1rtles for the audit of the financial statements seclh)n ofour rert We are in¢JepeThJent of the 9rwp and parent ¢haritaNe MpanY in ardance with the ethical requirnents that a rekvant Io Ouf audrt of the finanoal ststements in the UK indLJing the FRC'5 Ethical Stsna. and we have fiJffIl our olhw ethical reSp)ltA"1.es in )rd81 wAth these wuirements. We believe that the auéit eVIdee we have obtsined is sUff)"t rfJrKowate w kwovide a bas6 for our op1r. C4)ndu$lon$ r¢lalkn9 to 9okg ¢w¢ern In audrtirq the finanrial $tstennts. we have condLhd Ihat ts Intslees, use olth? gc4ThJ cont8m ba$ of accouth.ng the prqp8ralth of Ihg ffinaal slaternenl is zpprowiate. Based on Ihe work we have Ferforrned. have not identified any material uncertainties rdètiNJ lo events or Conditions that. iTrJividualty or colectwety. rnay cast svJnificant dwbt on the group or partnt thaniablè compaThy s ability to continue a5 a Ing COrM for a p8rbJd of at lea51 monts lrnm vhw the financ4al statements are authorisell for issue. Our responsibilities and Ihe reSrIbllrtieS of the InJee$ vith to g)irvJ a desuJed in the releVL sections ol this T8Prt. Other Infonnatlon The other inf0rrnatl coMwe$ the Inf(rnkn Ind in the annual reF olher Ihan th8 fin(¥al statements and oui audito15 réport th8r80n. The tffustses are rESpxsible foi other inform"on c¥Jrtained within tts finanoal statemenls. Our opinion on the financia Statements éoes not o)ver the other inforrnation and, èxcept to the extent OtheSe explicrfy ststed in our report. we do express any fomi of asSU¢e c(usion thewn. Our respjnsibilty is to read the otrter infcffliation and. in th'TrJ so. conder wkneiher the oth¥ infomiation is materialty inconsistent wth the financial staiernents LyowkryyrfAedgetaIn in the course of Ihe audrt. or otherwise appears to be materially rnisstated. N we i(Jentify s¢xh malerial inconsiste485 or apparent matèrial missiatemenis. we a reouireé to éelemine whether there a material rnis5tatement in the finanoal stsiwnents or a material misstatem1 of the other lnf0rnatn. N, based on the rk w have Fkned, we coUde thai there is a matwial mLSStatement of this other rmatK)n. we are required to rewrt that I. We have thing io reF*t in this rwJard.
Hackeryoung L#IYMxk Y((Lp lé P Row 14oYwqm NGI Owrtei£Yl Lichfield Garri¢k Theatre Independent Auditor's Report Year Ended 31 July 2024 Opinion¥k on oth•r matters wes¢rlb•d by th• Companles Act 2006 In ouroplnn. based on the undertaken in ihe ¢£¥Jthe Ihe inform8k.on gi) in the Intstees, repjrt li10b"n9 the stralegic repjrtl Ix ihe finanua year forwhich the finanal statements a ppar is con%slent with the financial staternents; and the trustees. report (irrPoratsng the strategK report) ha5 been ppared in xo)rdant with ap1¢able legal reqUIrnents. MatterJ on whlch v are vequlr•d to rnport by ex10• In lh8 Ivjht ol our kth41edge and undw511j ol Ihe group afiL1 paftt c)aritable company and ts enwr0nMt obtained in the Cr$8 ol the audrt. ¥e have not Kjentitsy material Mts$tatets in the Irustees, wort. We have nolhing to report in respect of the k4bM"ng matter5 in relffi to the Companies Aet 2Crf)6 requirès us to report to yov rf. in our onI¢-. Jequate OKOUnn9 records have [1 been kept by lh8 parent chaiiiable rnPany, or retums J8quate for our audit have not been rec8Ned from ixanches not wsited ty u5., or the parent charitsble cpanS financial s18tements are not in agréementith accounting records Mtums", or certain disclosure$ ofdwtttors. remuner4w Spear by la wt not made,. or we have [1 re¢eived all the inforrnation and gxpknalJns we require lor our audit: Respoftslblli¢ie¥ ol trust•e¥ As explained more fvlty in Ihe tru5tees' pOnSI111es slatet setouton p•2e6, ts tmste8s{wh) ar8also thedirector5 of Ihe ¢hari¢able compary for Ihe purF)ses of company law}are resFrfmsible forthe preparation of the finanud slatemenls and for being satisfied that they gNe a true and fair ¥¥. and for such intemal o)ntrol as the trustees determine is necessary to enaTre the prewation statts that arefreefrom mria misslat8menl, wheth•r due to traud or effor. In preparing the finanaal statements. the In1 are responsib[8 for a5$4ng the swoup s and parent chantabfe eompany's ability to ts'nue as a conrn. ddDs1Thj. as 4)p11tab. rnatte laItsd to going concern and using Ihe glyro o)ncem basi5 of nting unless Ihe tnJ5tee5 either intend to h'quthte the group or the pant tharitable mpany or to cease opwabons. or have ro reaksi alernab but to (k> so. Audltorf8 le¥poltillIIi&ts for audit ol th• fin•n¢ial stst•mtrnts IXrobjectNes at0 obl•n reasonable aSSure atrxwltheTtsfinar0 stalem•its as a vthole ar8treelrom material misstatement. whelher due to fraltd or error. and to issue an auditorf5 report Ih8t include5 tyjr opinion. Reasonablè 8ssurance a high lev ol assura. but is no¢ a guwantee that an au¢Jit (i)n(kJcted in accnrdanc8 With ISAS IUKI will aayS delect a material misstatelrt wthen it exists. Misslaiements can arise Irom fraud gr error and are considered material rf. indNidUIY N in the aggre9ate. they (tjubj reasonly be expected to inflUthe e¢crnmi¢decASWS of users tsken on the basts ofthese finarwl slatemMs. Irregularities. Including fraud. are instarw of nOThC£M18n¢e laws and rwJuL8ts"ons We design ptDcedures in line wrth our resF4Jnsibilities. oullined above. to delect material Mis5tTheNts in respect of irregularibes, irtduding frautj. The extent to (yjr WdureS are capab18 of d81ecbry iwlares. w)dUdg frdud is ¢2ta1J bek)w'. Our apprwth to identrfying and asses&ThJ Ihe risks of material MSement in respect of irr•gulities, induding fraud an¢J nOn-CL)ml8nCe laws and re9ulabons. wras as folk)ws: the eng•Jemwt partner en$Ud that the tw l1%lY had th8 wpropriate c9mpet, apatmlities and skills to iéentify or recnise n4mplI with apble laws and regulations.. we identifd the law5 and regulalins aprArable io the company through discuswons direLlors * other management. and from our cfjmmero knoedge and eVien of the sector.. and we focus on Spe¢Af laws and regulab.ons whth we consKYered May have a direct material e1 on the rinanoal stalemenls of the operaiw)n5 of the ccmxpany. Ind1Th9 the Companies Act 26. tsxation legislation and da proithjn. emp1 and heamh and safety gialK)n.
Hackeryoung UHYHa¢k4¢yrTh9 LLP lé Park Rc &4D•rn NGI GGA Charte¢èJ A£ceuniènts Llchfield Garrick Theatre Independent Auditor's Report Year Ended 31 July 2024 We assessed the Su$ptillty of Ihe finan(ial statn6 to malerial misstatemert iniknling obtainir4J an understaThJiTrJ ol h¢yw fraud mght occur. by". rna9 enouiw of rnrnt as to tthwe they thwe was SU5cepit¥ilty to fr. their knowledge of acbjal, suspected and frau¢: an consideriThJ the inlemal ¢tro& in pl lo mibgate risks offraud * w-DJmpjice wilh law& and regulations. To adére5s the risk of frnud thw managanenl bias aThJ ovwride ofc4y)trots, ¥R.' perforned anatyts'cal procedures to idenbfy any UnLtsuJ or La)exrded r491rh1ps'. tested joumal entries to identty unusual transacbor: as5es58d whether judgements and assvmptw)ns made in detemiThrs the accounling estimates were iThJieative of potential as- an investwJated Ihe rationae behind &gnrfnt0f urNJsual tranSactn$. In respCSe to the risk of irregulawilies and ith a1 regulaonS, design proc£du wthich included. but were not limited to.. r¢eiThJ statement di$Lw$ to Sup[rtIrj xMtion. readiryJ the rninute5 of meetings ol those chai9ed 1h g)vemanc£'. and ewuiring ol managernent as auual and tential litl9aty)n and 8a5ed orn our understanding of the grtMJP and the indvstry in rt operales. we KIentif thatth8 prirKapal risks ol non- e4Jmplian¢e with Iws and regulatws lated lo the ar£8 by the group. thch were wntrary lo applicable laws and ulalions irtluéin9 fraud. and we 0)ng¢ed the extent to non-CoMlance mwJht have a material effect on the finanoal Statents. We also rnnsrflered those Iws and rUL?110[ thal have a direct irnpact the preparation of the finanoal staternts such as the Companies A¢1 2(Th. IAÈ evuated manwent's inc•nts"ves and opportunit$ for auéulent manipulab.on of the fin8nrJal Stater¢t5 IIK4vdiTrJ the risk of override of controls). and delennined that t prinopal risks were relaled ¢0 wfflated reverw arKI the group's net irKomd(èxpwditurel fof the year. Audit procedu perfrned irnguded: review of finarKial statement étsdosures to underfwng supportirJ l10alm¢t8Iw. review of Ihe Trnstee Medirs minules. wew of correswdwE with and reports to the wulaior5 where available, Induding (Y)rr&%pjnden wth the Chty CommissK)n." review ol (y)rr8spondenc& ith Jegal thsots.'erw]uiws of man&3ertwI and t¢sting of jouma15 and evalLtating whether Ihere wa5 eviderwx of tMa5 by ihe trustees that ented a risk of material mtern8nt duè to fraud: and revie•4 of revenue recoynised wthin the fin•¢)al siatements was 0 undertaken to ertswé that ineome has been reecJntsed li TMth e¥ant ?.1¥j stwdards aThJ to ensure that r8venuè is not materially 0Vetatj. There are inherent linitab'on5 n lh• procedures ¢Jescribe(l the turther removed non-eorrylianeÈ bwth law& and regUla)rtS ts from the events and tran$ ected in the finanrAal statements. ihe le55 we would become aware of it. Also, lh• risk of not éelecling a maie(ial misslatement due to Iraud ¢s hJher th the rtsk of not detecting one sutting from errot. as fraud may ddl)erate wncealmenl by, for •x*npl•, forgery or Int"on31 rn1sr8pre5enta.on5. or 1hrO edlusion. A fvrther (lesCriprt of our res[bIl.es fiy Ilw of ts ffinan(ia S[Trts is local ¢M the Finanoal Reporting Council's website at ww.frc.o .ukJ uditotsres This de5cWon fomis part ofour wjditorfs report. 10
Hackeryoung UHY Ha¢er Yow4 iLP lé Park è4Dwham WGI GGA Chartereé Ac(ovnunts Lichfield Garrick Theatrn Independenl Auditor's Report Year Ended 31 July 2024 ofour r•port This rep)rt is made solely lo the tharitth QpanY'S rnemter5. as a body. in accordance wth Chapter 3 of Part 16 of the CDmpani85 Ad2006. Ourauditworf¢ has been undertaken sothatwe mvJhtstate tothe duritable Company's members those matters we are required to state to them in an audrtofs retKJrt arKI for Tr) oiher wrpose. To the fullest extent Permitted by law. we dc) noi&t013$$Urne Sp(sIblEtytO anYe0ther Ihan thethariiablgcornpanyand thechariiable coryany's memb8r5 a5 a t, for T th, kn Itss rep)rt. or frthe ¢¥InK)I we have formed. Andf•w Timm$ {Snior Slatutvy Audltor) For and belmlfthl UHYHacker Ytxry. SlaluWAudrf Dote.. 3 Mareh 2025 11
LiGhfield Garrick Theatro Consolldated Statement of Financial Activities (Induding Income and Expenditure Ac¢ounl) Year Ended 31 July 2024 2024 2023 Totsl Total Income and endowrnents from: Donations and legacies Charitable actiwties Other trading aCtitieS Investments 26.959 3.439.716 9.267 36,226 19.009 3.458,725 443,544 ,583 29.124 2,888,624 346.398 26.604 .583 Total incorne and endowments 4.CrfXI.802 28,276 4.029,078 3.290.750 Ewnditur¢ on: Raising fi1rS CharItae activities 264.270 3.430.584 264,270 24.028 3,454.612 197,117 2.846.463 Total expenditur• 3.694.854 24.028 3,718,882 3.043.580 Net 5ncome l {expenditurn) 305.948 4.248 310.196 247,170 Tran5tsr5 belween fund$ Transfer to designated funds Other rec¢gnis•d gains: Theatre Tax Rel*f 147.324 147.324 . 190.059 Net mov¢monl In funds 453.272 4,248 457,520 437,229 R•conc511atlon of funds: Total funds brought forward.. General funds Desonated fvnds Restricted fvnds 20 643.261 951.584 643,261 951.584 14.519 14,519 14.519 1,609,364 518,288 641,993 11,854 1.172.135 1.594.845 Total funds carried forward: General fiJnds Designated funds Restricted funds 754.653 20 1.293.464 20 754.653 1.293.464 18.767 18,767 18.767 2.066.884 643,261 951,584 14,519 1,609,364 2.048.117 A total of £465.337 of the net income in tho year has been designated to spend on 0SSonlial costs in 2024. Total designated funds are £1,293,464 and only £754.653 is available to spend on ongoing operational costs. AJI income and expenditure derive from contiwng activriies. The ststement of finla1 activities includes all gains arKI10s5e$ regnIsed during the year. notes pages 16 10 35 form part of Ihese financial statements. 12
Llchfield Garrick Theatre Consolidated Balance Sheet Year Endod 31 July 2024 2024 2023 Fixed assets Tangible assets 13 305.642 57.270 305,642 57,270 Current ass•l$ Stocks Debtors Cash at bank and in hand 15 16 6.480 471,629 2.457.179 15.070 402,109 2,476.147 2.935.288 2,893,326 Creditors: amounts fallin9 due within ono lf 17 {1.174.0461 {1.341.2321 N•t curr•nt ass•ts . 1.761.242 1,552,094 T¢)tsl assets less current liabilities 2.066.884 1,609,364 Provisions for liabiliti•s Net assets 21 2,066,884 1,609,364 Charity Funds Restricted funds Unrestn'¢ted funds.. General funds Desnated fijnds 18.767 14,519 754.653 1.293,464 643,261 951,584 Total charity funds 2.066.884 1.609.364 The financial statements were approved and thOriSed for issue by the Board on 3 Mar¢h 2025 &gned on behalf of Ihe board of trustees: D J Hill, Chalr of the Board The notes on pages 16 to 35 f part of these finanaal ststen*nts. 13
Llchfield Garrick Theatre Consolidated Balance Sheet Year Ended 31 July 2024 Company registrabon numbw.. 07972082 {England and Wsl 2024 2023 Fixed ass•ts Tangible asset5 Investments 13 14 164,873 57,270 164.875 57.272 Cuffent assets Debtors Cash at bank and n hand 16 704.224 2.206.180 578.636 2.243.256 2.910.404 2.821.892 Creditors: Ounts fallin9 due within one yoar 17 11.053,9841 11,306,890) Net curT•nt assets 1,856,420 1.515.002 Total assets l•ss curr•nt liabiliti•s 2.021.295 1.572.274 Provisions for liabilities 19 Plet assets 2.021,295 1.572.274 Charity Funds Restricted funds Unreslricted funds". General funds Designated funds 18.947 14.519 708.884 1,293,464 606.171 951,584 T¢)tal charity funds 2.021,295 1.572.274 The financial statemenls were approved aTrJ authorised for issue by the Board on 3 March 2025 Signed on b&h4f of the board of trLlee$ D J Hill, Chairofth• Board The notes on pages 16 10 35 fomi part of these financial statements. Company registralion number. 07972082 (England and Wales) 14
LiGhfield GarrlGk Theatre Consolidatod Statement of Cash Flows Year Ended 31 July 2024 2024 2023 Cash flow from opèrating activities 23 177,924 759,81 Net flow from operating activftl•s 177.924 759.8XJ Cash flow from Investlng act¥vits¢s Payments to acquire tangible fixed assets Interest received {287,475) 119.6471 26,604 Nol u$h flow from investing activlties {1,892} 6.957 Nat incr•o$0 in ¢a$h and ¢ash equlvalents {18.968) 766,807 Cash and cash •quivalents brougm fornvard 2,476.147 1.709.340 Cash and cash ¢qulvaknts at ¢¥rlod forwanl 2.457.179 2,476.147 Ca$h and cash •quiv¥l•nts con$lsts of: Cash al bank in hand 2,457,179 2.476,147 Cash and cash equlvalonts at 31 Juty 2024 2,457.179 2,476,147 15
Lichfiold Garrl¢k Theatre Notes lo th• Flnancial Statements Year Ended 31 July 2024 Summary of signifitht accounting poIici•s lal G•nwal inforniation and basis of preparation Lichfield Garrick Theatre is a charitable company Iwnited by guarantee. regislered in England & Wales. In the event of the chartty being wwnd up, the liabilty in respect of the guaranlee is limrted to £1 per member of the charity. The addres5 of the registered office is gwen in the legal and adrninistrative informats.on in these finan¢ial stslements. The natu of the charity's operation5 and principal activities are that of a theatre. The charity constitutes a public benefit entity as defined by FRS 102. The financ1 statements have been ppad in accor(lan¢e with Accountsng and Reporting by Charities". Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Finan¢i81 Reporb'ng Stsndard applicable in the UKand Republic of IrelarKI IFRS 1021. Ihe Charits"esAct2011. tho Comp•ies Act 2006 and UK Generally Accepted Praclice. The financial ststements are prep8rei1 on a going concem basis under the historical cost convention. The financial statements are presented in Nthich is the frtional currerKy of the tharity and r(yunded lo the nearest £. The stgnrf1I accounling poliaes applied in the preparation of these financial stslements are set out below. These policies have been consistenyy applithfj to al years esented unless olhewse ststed. {b) Funds Unrestricted fvnds are available use at the thscretion of the trustees in (elance of the general objectives of the charity and which have not been designated for other purposes. Designated lunds compnse UnreIed funds that have been set aside by the injstees for particular purposes. The aim and use of each deggnated fund is set out in the notes to Ihe financial statements. Restricted funds are funds whh are lo be used in accordance with specifi¢ reslricb.ons imposed by donors or %thich have been raised by the charity for pa"Cular purposes. The cost of raising and adrninistering such funds are charged against the specffic fund. The aim and use of each restricted fund is set out in the notes to the finanrAal statements. 1¢> Ba$1$ of ¢onsolidalion The finanaal statements consolidate the resulls of the company and ils vA)olly owned subsidiarigs Lichfield Garrick {Green Room) Limited and Lhfield Garrbck Productions kn"mited on a line by line basis as required by FRS 102. The company has tsken advantsge ofthe exemplion contsined wthin section 408 ofthe Companies Act 2006 not to present its own income and expenth'lure aCcoL Id) In¢om& r•cognlllon Al incoming resources are induded in the Statemenl of Financial ktiv[t$ ISOFAI when the charity is legally entitled to the income after any performarKe conditions have been met. the amount can be measured reliably arKI it is FwobatAe Ihal Ihe income will be received. VoluAtary income indudes all d31)n$ aThJ gifts thatare ofa general nature. recognised on a receivable basis. 16
Lichfield Garrick Theatre Notes to the Financial Statements Y•ar Endod 31 July 2024 Incoming resources from charitable acts"wts"es include5 all incorne deriving from theatre performa$ provided lo the company's beneficraries and performance related grants received under ntraCt. As the company has cullural exemption status for VAT. most tr)x office receipts ère exempt from VAT. Income from Irading 8¢1ivities IN9Je$ income earned from Trjndraising events and trading actimlies lo raise funds for the chartty. Income is received in excharoe fcf supplying good5 and services in order lo raise funds and is recognised bthen entitlement has occurred. Income from govemment and other grants are recognised at fair value when the charity has entitlement after any perfomance condi¢ions have been met, it is probab that the income wll be Ceived and the amount can be measured reliabty- If entiuement is not met then these amounts are deferred. Other income includes Theatre Tax Relief vhch is renised Nthen the charity becomes entilled lo receive the fvnds. (e) Exwnditurn recognltlon Al expenditure is accounted for on accruals basis arKI has been ¢Lgssified under headings Ihal aggregate all costs related to the calegory. Expenditure is e0nised where there is a legal or constructive obligation to make payments lo third parb"es. it is [bae that the setuement will be required and Ihe amount of the obli9ation can be measured 11abty. It is calegorFsed under the foll¢)wing h¢adings'. Costs of raising funds indJdes costs diredly attribulable to Ihe operation of the Green Room., and Expendilure on charitae activities indudes those costs attributab to the operatson of the theatre. Irrecoverable VAT is charged as an expense aga11 the acimty for which expenditure arose. {n Support costs allocation Support costs are Ih05e that 3ssist the of the Charity but do not directly represent charitable actiwties and indude office costs, govemance costs. and administrative payroll costs. They are incurred directty in sUPPOrt of expenditu on the obj'ects of the charity. Where support costs cannot be direcuy attributed to parb'cular headings they have been allocated to cost of raising fijnds and expenditure on arilable activib.es on a basis congstent with use of the resources. The anal.$ ofthese costs is Indle{l rnte 7. Igl Tanglble fixed assths Tangible fixed assets are stated at cost (or deemed cost) or valuation jess accumulated depreciation and accumulated impaim)ent losses. Cost includes costs dire¢Uy attributable to makin9 the asset capable of operating as intended. Depw¥atron is promded on all tangib fixed assets, at rates calculated to vmite off the cost. less eslimate(I residual value. of each asset on a systematic basis over its expe¢ted useful life as follows.. Land and buildiros Equipment FiXtuS and fittings Softrtsre - reduong balance or straight4ine over the term of the lease - 50Yo reducing balan or straNJht-lirte over 5 yea - reduong batance or straighl-line over >10 years - 33% redLKing balance or 5traight-line over 3 years A full year of depreaation is charged in the ye¥ of acqui%tion with Th) depreciation charged in the year of disFx)sal. 17.
Lichfield Garrick Theatre Notes to the Financial Statements Year Ended 31 July 2024 (h) Stock5 Stocks are ststed at the lower of cost and estsmated selling price less costs to complete and sell. Provision is made for damaged. obsdete and slow-moMNJ stock vthere appropriate. (i) Oebtors * credilors rK•ivable I payablo within one year Debtor5 and creditors with no ststed inleresl rale aThJ receivable or payable within year are recorded al trS8¢110n price. Any losses arising frn impayment are recognised in expenditure. til knpairni•nt Assets not measured al fair value are reviewed for any indication that the asset may be impaired. If such indication exists. the reCOverae amount of the asset. or the asset's cash generating unil, is estimated and compared to the caryng amount. Where the carryww amount exceeds its recoverable amount. an impairment loss is rectranised in profft or k)ss unless the asset is carried at a revalued amount where the impTment105$ is a revaluab.on de¢rease. Ik) Provisio Provisions are recognised when the charity has an ot4igats.on at the balance sheet dale as a result ol a past evenL it is probable that an OLrtnow of economic benefits will be required in settlement and the amount can be reliably estimated. {1) Leases Rentals payable and receivable under operating leases are charged lo the SOFA on a Straht-lIne basis over the period of the lease. {m) Employee benefits When emKAoyees have rendwed Servi to the charity. short-term ernployee benefits to sthich the employees are entitled we recognised at the undisctsjnted am¢)unt expected to be paid in exchange for that seiCe. The charitable company and its subydtaries operated a defined benefit scheme operated as a re5uII of the TUPE wulab'ons fdlo*MThJ Ihe charity taking over the njnning of the theatre from the Council from 1 February 2013. The scheme is rt open to new members of staff subsequenl lo that date. The final eligible employee resigned during the prior year. The assets of the scheme are held separately from those of the gff)up in independenty administered funds. The Trustees are unable lo confirm the charity's Sho of undedying assets and liabilrties of the defined benefit scheme and therefo the scheme is accounted for as a defined contribution scheme. Contributions payable to the Charitab company's pensM)n scheme are charged to the SOFA in the period lo whth they late. In) Tax The charity is an exe1 charity With the ffleany of schedule 3 of the Chantres kt 2011 and is considered to pass the tests set in Paragraph 1 khedule 6 Finance Act 2010 and therefore it meets Ihe definiti¢)n of a charitable company for UK.corporalK)n tax w.rp_oses. The subSlarieS are chargeable to corporation tax on th"r taxable profits. 18
Lichfield Garrick Theatre Noles to Ihe Financial Statsments Yoar Endod 31 July 2024 (ol Golng concem The financial statements have been pPared on a going ¢on¢em basts as the trustees believe that Ihe theatre has suffieient govemmentsl supwrt and reserves to continue. The trustees have considered the level of funds held and the expeeted level of Income and expenditure for 12 months frorn authorising these financial statements. The budgete(l income and exwditure ts sufficient V•ith the level of reseNes for the charity to be able to conb.nue as a gcrfng concern. Ip) Judg8m•nts and key sources of estimation uD¢ertainty There have been nojLwJgements (apart from those involw.ng estim8lesl made in the process of applying the above accounfing policies that have had a significant effect on amounts recognised in the financial statements. There are no key assumptions corrEming the fvture and other key sources of estlmation uncertainty al the reporting date that have a significant risk of causing a maleri318djustmenl to the ¢arrying amounts of asseis and liabilities wlhin the next financial year. In¢omo from donations and l•gaci•s 2024 2023 DonatK)ns 36,226 29.124 36.226 29.124 Income fr(Mm donations and legacies was £36.22612023- £29.1241 of which £9,26712023- £4,966) was attributsble to restricted and £26,959 (2023- £24.1581 vrds attributable to unrestrKled fvnds. 19
Lichfiold Garrick Theatre Notes lo the Financial Statements Year Ended 31 July 2024 Incom• from charitable activitses 2024 2023 Prc4Ju¢tK)ns Technical. marketing & )0"n9 fees Theatrelroom hi Retail Commissi & vouchers Grants Lichfield Disknct Councyl strategie ptheTship agreement Memberships Other 2.670,715 458.159 129,085 16,700 19,508 133,333 6,874 24.351 2.222.876 354,593 75.445 14.985 9.547 190.000 4.953 16,225 3.458.725 2,888.624 Grants received. inckKled in the above. are a5 follovts: 2024 2023 Lichfield District Council- Warm Spa Other grants 19,508 6.047 19.508 9,$47 Income from charitable activities was £3.458.725 (2023- £2.888.6241 of whKh £19,CQ912023- £9,047) wa5 attributsble to SIn"¢Ied and £3,439.71812023 - £2.879,577) VAS attributable lo UnstriCted funds. In¢om• from oth•r trading activiti•s 2024 2023 Sporwrships Green Room trading income 12.975 430.569 19.408 326,9 443.544 346.398 Income from other trading actrvities was Vholly attribjtable to unre5trKled fun¢Js. Income from investrnents 2024 2023 Interest- deposits ).583 26.604 J.583 26.604 Income Irom investments was wholty attributable lo unresknded fuTrJ5. 20
Llchfield Garrlck Theatro Notes to the Flnan¢ial Stslements Year Ended 31 July 2024 Analysis of ¢xp•nditure on ¢haritable a¢ti¥iti•s 2024 Activities Supwt costs urKlertaken Totsl Theatre 3.211.313 243.299 3.454.612 3.211.313 243.299 3.454.612 £24.028 of the above costs %*ve attributabk to reslri¢ted fvnds. £3.430.W of the above costs were attributsble lo unrestricted funds. 2023 £bwties SupFLYI Costs undertaken direcuy Totsl Thea 2.694.058 152.425 2.846.463 2.694,058 152,425 2,846.463 £11.348 of the above costs were albutab1e lo reStrted fiJrKls. £2,835.115 of the above costs were 8ttributsble to unrestricted fvrKIs. AIIoGation of Support $ts Support cost- 2024 Basis of allocabon Raising funds Theatre Total Governan (note 81 Finance Infom)alion technology Oepreciabon Health and safety Pension contributions Utilities 10.384 16.1 67283 6.289 11.042 37,731 6.290 18.796 95.868 77,667 22.790 11,042 39,103 6,2 19.666 109. 132 1.372 870 13.264 Total 42,391 243.299 285.690 The support costs for utilities for raising fijnds are made up of the overheads apportioned and recharged to Green Room based upon the percentage of floor se occupied within the shad premises by the Green Room. The £42,391 of support costs allocated to raising funds is included within total expenditure on raisw furKls of £264.270 on the face of the Statement of Financial ' Activi1$ on page 12. 21
Uchfield Garrick Theatre Notes to the Financial Statements Year Ended 31 July 2024 Support cost. 2023 Basis of alIctiOn Raigng Jnds Theatre Total Govemance Inole 8} Finance Infoiniation technology Depreciation Health and safety Pension ¢onlributions Ub'11tS 4.615 8.356 30,671 35,286 13.696 15.701 22,801 6.2g) 15,755 63.843 15.701 22,801 6.290 15.295 56,327 460 7.516 Total 20.947 152,425 173.372 The support costs for ulilities frx raisww funds are made up of the overhearjs apporboned and ¢h8rged to Green Room based upon the percentage of floor space occupied thin the shared premises by the Gieen R(rn. The £20,947 of suppth1 cosls allted to raising funds is Included within total expendrture on raising fvnds of £197,117 on the fe of the Staternenl of Financial Activities on page 12. Gov•rnan¢e costs 2024 2023 Audrtorfs remunerat Legal and professi¢)nal fe9$ 10 19.670 57.997 18,3 16,896 77.667 35,286 Net incom• lor th• y•ar Net income is ststed after chwging: 2024 2023 Oepreoation of tangible fixed assets 39.103 22,801 Hire of plant and eqnI 21.668 19,735 22
LiGhfield Garrick Theatre Notes to the Financlal Statements Year Ended 31 July 2024 10 Auditor's rernuneratlon 2024 2023 F8es payable lo the chwity's auditor for the audrt of the chrty's annual accounts 10.3 9.620 F88s payabk to the charity's auditor for other se.. Audi( of the charity'$ SubslarieS Taxatson advis Accwntancy 4,320 1.600 3.450 9.370 4,030 1.500 3.240 8,770 Total audilorfs reffluneralion 19.670 18.3 11 Trustees. and key m•nag•m•nt p•rsonnel remunerntion and •xp•ns The trustees wther received rr waNed any remurallOn during the year12023- £nill. The totsl am¢xmt of employee beneffts rerived by key rnent personnel is £374,271 2023 - £321,975). The TnJst considers its key management personnel compromise the Chief ExetIVe Offir and department heads. £169 was reimbursed for direct incurred travel expenses to one tru5tee12023- £nill. 12 Staff costs and employee benefits The average fflcthty number of employees during Ihe year was as follov6: 2024 Number 2023 Number Raising funds Ch8ritsble activilies 19 14 75 70 23
Ll¢hfield Garrlck Theatre Note$ to the Financial Statsments Year Ended 31 July 2024 12 Staff costs and •mployee benellts l¢ontinu¢d> The lots151aff costs and emF4oyees beneffts were as follows: 2024 2023 Wagès and salaries Social security Pension costs (note 23} 1.072.687 72.801 19.666 877,999 61.372 15.755 1.165.154 955,126 No employees received lolal employee benefits lexcludry wnployerfs national insurance and employer pension costs) of rnye than £60.CiIO. 13 Tangible fixed assets- fxoup Larbj Fixtirts bAdiws aTrY Ihts"r¥J5 Total Cost or valuatn.. Al l August 2023 Additions At 31 July 2024 59.137 256.786 144.577 117.165 203.714 373,951 95.160 8.932 104.092 11.510 16.801 28.311 422,593 287,475 710,068 Depreoalion: At 1 August 2023 Charge ffx the year At 31 July 2024 25.869 239.635 2.515 31.664 28.384 271.299 88.309 4.924 93.233 11,510 365.323 39.103 404,426 11.510 Nel bty)k value.. At 31 July 2024 175.330 102.652 10.859 16.801 305,642 Al 31 July 2023 33,268 17.151 6.851 57,270 The net tsjok value of land arKI buildings comwised: 2024 2023 Land Long leasehold improvements 26.000 149,330 26.000 7,268 24
Lichfield Garrick Theatre Not•s to the Financial Statements Y•ar Endod 31 July 2024 13 Tangibl• f•d assets {continued)~ Charlty ry5 Total Cost or valuation: At 1 August 2023 AddOn$ At 31 July 2024 $9.137 256.786 11.367 117.165 70,SM 373,951 85.421 6.950 16.801 23.751 408,294 145,333 553.627 85.421 Depreciation: At I ALFgust 2023 Charge for the year At 31 July 2024 25.869 239.635 2.514 31,665 28.383 271,3(K) 78,570 3,551 82,121 6,950 351,024 37.730 388.754 6.950 Net book value.. At 31 July 2024 42.121 102.651 16.801 164,873 At 31 July 2023 33,268 17.151 6,851 57,270 The nel trx)ok v81ue of land and buiklings comprised: 2024 2023 Land Long leasehold improvements 26,000 16.120 26,000 7.288 14 Flxed A$s•t In¥¢M9nts- Company Shares in group un¢Jertakn'ng$ Cost or valuation: Al 1 August 2023 & 31 July 2024 Net btr)k value". At 31 July 2023 & 31 July 2024 There We no inestment assets wlgde the Ulc The charitable company owns Ihe entre share capital of Lichfield Garrick (Green Room) Limited and Lichfield Garrick Productions Ltmited. companies anrporated in England and Wales. The principal activty of Lichfield Garrid( (Green Rwml knmited is the operation of the restaurant and barfacilities at Lichfield Garrick Theatre. At 31 July 2024 Ihe c(Nnpany had net assets of £32.411 12023.. £37.100}. The prinopal activity of Lichfield Garrick Productions Limited is that of a theatre production company. At 31 Juty 2024 the company had net assets of £1 12023- net assets of £11. 25
Lichfield Garrick Theatre Notes lo the Financial Statements Year Ended 31 July 2024 15 Stocks - Group 2024 2023 Green Room 15,070 6,480 15.070 Green Room sttxk held is for raiswlg fuTrJs. The Tratre ¢kns not hold stock. 16 Debtors 2024 Group 2024 Charity 2023 Group 2023 Charity Trade debtors Prepayments WKI acuued income Olher debtors Amounts owed by subsidiaries 8.676 441.093 21.860 8.676 72.727 21.860 600,961 16,079 329,777 56,253 16.079 59,402 56.253 446,902 471.629 704.224 402,109 578.836 17 Creditorn: affl(¥unts falling due within on• ye 2024 Group 2024 Charity 2023 Group 2023 Charity Trade creditors Accruals and deferred income Other creditors S¢XI81 security & other tsxes 64.021 1,029.934 46.439 33.652 195.833 1.063.511 43.913 37.975 187.965 1.046.157 43.460 29,308 922,973 46.439 1,174.046 1.053.984 1,341.232 1,306,890 18 L•as•s Operating leases- lessee Totsl futu minimum lease payments under non-wKellable operatin9 leases are as follows.. 2024 2023 Not later than one year Later than and not laler than fve years 4,803 9.233 5,179 13.659 14,036 18.838 26
Lichfiold Garrl¢k Thoatr• Notes lo th• Financlal Slatsments Year End•d 31 July 2024 19 Deferred income Totsl At 1 August 2023 Amount leaSe lo the SOFA during the year Amount deferred in the year 949.350 {938,8501 843.464 At 31 Juty2024 853,964 The amount deferred in the year relates to theatre shows that have occurred after the year end. 27
Ll¢hfteld Garrl¢k Th¢atre Notes to the Flnancial Statements Year Ended 31 July 2024 20 Fund reconciliation- Group Unrestrict•d funds- 2024 Balance at 1 August 2023 Balance at 31 July 2024 IrKome Expenditure Transfers gains I (losses) Genwal fund 643.261 4.IM.802 (3.571.397) {465.337) 147.324 754.653 Deslgnat•d funds: Theatn"cal equipment ftjnd 288,857 {288,857) Business development fiJrKI (30.000} Production development fund (9).000) Legal expenses fund 39.O¢XI (14.000) 25.tKo Repairs arKI renewals fijnd 102,132 47.868 150.000 Arlisticlcommunity developments fund 85,323 {10.3231 75.000 Book value of fixed assets fvnd 31.272 139.103) 194.966 187.135 Green Room refvrbishment fund 25.000 {25,000) Capitsl developments fund 3CX).O(X) {84.354) 640,683 856,329 1,594.845 4.(M)0.802 13.694.854) 147.324 2.048,117 28
Lichfiold Garrick Theatr• Notes to the Financial Slat•ments Year Ended 31 July 2024 Unrnstri¢t¢d fvnds- 2023 Balance al 1 Augusl 2022 Other gains I Ilossesl Balance at 31 JLtIy 2023 Inc(Mne Eyndilure Transfers General fund 518.288 3,276.737 (2.931.854) (409.9691 190,059 643,261 Designatod fvnds: Theatrical equipm¢nt fund (7.526) 288,857 Business development fund 30.0 30,000 Production development fvnd 50.000 Legal costs fund 39,000 Repairs & maintenance fund 58.370 (6.238) ,000 102.132 Education & ommunty fund 53.815 153.815) 85.323 85,323 Economie value of capitsl assets esignaled to future periods 34.425 122,799) 19,646 31.272 Green Room refurtsshment fund 25,000 25.C0 CaFylal improvements fund 110.000) 255.OCKI 0,0 1.160.281 3.276.737 {3.032.2321 190.059 1.594,845
Lichfield Garrick Theatre Noles to the Financial Statements Yoar Ended 31 July 2024 Restricted funds- 2024 Baance at 1 August 2023 Other gain5 1 {lossesl Balance al 31 July 2024 Income Expenditu Transfers Caption Campaign 69 Swinfen Broun Charitable Trust- Lrft 2.500 Mary Slatw- 4,(XlO 4.000 Edwar(I Cadbury- Lift 4.IXIO 4.000 Sebbie Hall lfjndness Fwndation- family tickets (500) Communty Foundation of Staffordshire- Garrick 20 {1.LKKI) The Community Foundation of Slaffordshire- Ukrairian film 1.545 {1.545) Family tickets DernI)er 2023 170" (170) Garrick 20 proJe¢ls 735 (735) Conduit Lands Trust- GarrKk Youth Theatre 3.CKIQ Noel sweY Foundation - Fam) Boy Venue Tour {2.¢JXI) Customer donations for Family b"¢kets- December 2023 7.849 {7.849)
Lichfield Garrick Thoalr¢ Not¢$ to the Financlal Statements Year Endod 31 July 2024 Customer don8b.ons for Family tickets - Dewnber 2024 433 Arts and Travel Limited - tlonation for Family Tickets Dec 2023 (8) g Ticket Appeal 185 185 seb.¢ Hall - access perform8n¢es 500 Sebbie H811- Christrnas Ticket Appeal December 2023 (s) Holiday Acliwties Fund 3.009 (3.(#)9) Theatre's TnJsl- Hearing Loop {5.(KKII Burnhd Project 1920) 4.080 14.519 28,276 124.028) 18,767 31
Uchfi¢ld Garrick Theatre Noles to the Financial Statements Year Ended 31 July 2024 Restricted funds . 2023 Balance at 1 August 2022 Other gains I (Ios5esl Balance at 31 July 2023 Ir Expenditu Twsfers Rathbc Trust l McLay 1.285 {1.285} Caption Campaign 69 Swnfen Broun CharItae TnJst- Lift 2.500 2,500 Mary Slaler- Lift 4,000 4.000 Edward Cadbury- Lift 4.000 4.000 Wam Space- Lichfidd Community Lottery 1.0)0 (1.OCM)I Warm Space- City Council {2.9)01 Warm Space- Donation5 3.386 (3.3861 Sebbie Hall Kindness Foundation- family tickets {1 500 Community Foundation of staffordshi- Garrick 20 1,000 The Community Foundation of staffordshi- Ukrainian film 1.545 1.545 Swnfen Broun Charitsble Trust- chitect Design 12.(MXI) 32
Lichfield Garrick Thealre Notes to the Flnanclal Statements Year Ended 31 July 2024 Family tid(ets- December 2022 (59)) FnIlY tthets - December 2023 170 170 Garrick 20 projects 735 735 Sponsor a Costume (Wifid in the Willows) 127 1127) 11.854 14.013 (11.3481 14.519 Fund des¢riptlons Restricted funds The Caption Campaign fijnd blere doniMs raised to srt captioned perforniances. Mary Slaler. Edwar(J cadtrIry and &¥infen Broun funds were grants raise(I loward5 the wrchase of a new platforrn li Sebbie Hall lQndness Foundalion - family tid(ets- was a ant towards the Chrisbnas ticket appeals for 2022 and 2023 which offers tickets via local charities to children and young people who would not be able attend wthout a free licket. Community Foundaticn of Staffordshire - Garrick 20 projects - was a grant towards Garrick 20 - programme of community projects. school projects and work. The Community Foundab"on of StaffordshI - Ukrainian ffilm projed - was a grant from the New communib.es Resetdement Scheme towards the screening of films dubbed in Ukranian for Ukrainian refvgees. Family tickets- December 2023 - We customer donab.ons towards the Christmas Ike1 appeal which offers tickets via local charities to chiklren and yourtsJ peopk would not be able lo attend without a free ticket. Garrick 20 Prq'ects-were customer()nations towards GaThi¢k 20-a programme ofctxnmunily rxoiects. school projects and wor placements in celebration of the Garrick's 201h birthday. Conduit Lands Trust - Garrick Youth Theats - a grant tovrards the operation of a Youth Theatre in Lhr1eld. Noel Sweeney Foundation - Fwm Boy Verm Twr - production of Fami Boy. grant towwds the Community Tcmjr of the
Lichfield Garrick Thoatro Notes lo tho Finandal Statements Year Ended 31 July 2024 Cuslomef donations for Famity tickets - December 2023 were customer donalions towards the Christmas tithel appeal which offers tickets via k>cal charities to children and youn9 people who would not be able to attend wihout a free tickeL Customer donations for Family b"¢kets - December 2024 - were customer donations towards the Christmas ticket appeal which olfers bckets via local charibes to children and young peorAe who would not be able to aitend oUt a free ttheL Arts 8nd Travel Limited - donation for Family rtckets Dec 2023 - a corporate donation towards the Christsnas ticket appeal which offers tthets via bocal charitses lo Child n and young people who would not be able lo attend wlhout a free ticket. BVJ Tickel Appeal - customer donabons tovrdrds the 8 Tet appeal which offers tickets via local charities to people vtho vA)uld not be able to attend will¥xrt a free tickeL Sebbie Hall- access perfomarhces- a grant to sUpt the provision of access perfomiances. Sebbie Hall- Christmas Tickel Appeal [)ernber 2023- a grant towards the Christmas tickel appeal. Holiday Actiwties FurKI- a grant towwds the wovision of holwjay tivitIeS for young people. Theatre's Trust - Hearing Loop - a grnnt towards Ihe PurdSe of a new hearing loop for the main auditorium. BUM Project- a gfanl towards an arts con5uiiatton in 8umlwcrfxJ and the promsion of pilot activity. D•signat•d fund5 The deggnaled funds represent aloCaticS of geral hJnds to allow for leg81 expenses. repairs and renewals, Arb'stKICmlIty Developments and Catal Developnents. The book value of fixed a5set5 repsents the net ttsx& value of the Charty's fixed a55els. excluding land, lo be depreciated Ihrough the Statement of Financial ALtsvities in futu accounts.ng periods across their useful economic life_ Lring Ihe financial year. the tharity's bowd of trustees approved the ren1 of several desvjnaled fvnds to better refiect their intended PLwposes. The thanges are as fol¢)ws: The'Legal costs fund" has been renamed lo the"Legal expenses fvnd". The'RepaiTS & maintenance fund. has been renamed to the"Repairs and renewa15 fvnd.. The "Education & community fund. has been renamed to the "Artistidcommunity developments fund.. The'Economic value ofcapital assets designated to fvture wiods" has been renamed to the"Book value of fixed assets fvnd.. The'capital improvements fund" has been renamed to the"Capilal developments fund". General fvnd The general fvnd represents unrestricted fijnds availab to cover ongoing oFer*ional expenditure.
Lichfiold Garrick Theatre Notes to the Financial Statements Year Ended 31 July 2024 21 Anatysis ol not assets b•twwn fund5 unStricted fvnds De&gnaled fijnds Resln"cted fijnds Total Fixed as5els Cash at bank and in hand Current assets Current liabilities Total 305,642 1.144,948 478,109 11.174.046) 754,653 305,642 2,457,179 478,109 1.174.046) 2.066,884 1.293.464 18.767 1.293,464 18,767 22 RKonciliation of net incorno to net flow from oper¥tin9 activities 2024 2023 Net income l (expen(Jiturel for yew before transfers between funds Interest o¢eNable Depreuation impairment of tsngt4e fixed assets Prowsions less payments {Increasel I deC35e in stod (Inc3$e1 I de¢rease in debt$ Increase I Idecreasel in creditors 457.520 I.583> 39.103 437,229 126,604) 22,802 (3,5561 {2CK1,8551 530.834 169,5201 1167,1861 Net cash flow from operating actitieS 177,924 759,8 23 P•Thsions and oth•r post1r¢Meftt bon¢fits The charity operates 1h a defined contribulion and a defined benefit Ps1on plan for ils eMoyeeS. (See note 1lml for details). The defined benefit pensron plan was only open to TUPE employees and the final eligible employee regned during the year ending July 2021. The amount cOgnised as an expense in the perTod was £19.66612023 - £15,755),. £19,686 {2023 - £15.7551 for Ihe defined contribub.on heme and £nil12023- £nil) for the defined benefit scheme. The defined contribulion liabilty is alkncated to unreslrthd funds. Capital Commitrnents As at 31 2024 the tyoup had eontsacted to leasehc4J improvements amunting to £646,962. As at 31 Juty 2024 the charity had contrxled to leasehold improvements amounts.ng lo £155.289. 25 R•latad party trans•¢tlons The group has taken advantage of the exemW'on for the quIrernents lo disck)se transactK)ns wtlh group comparmes eliminated on conscAidab"on. The Council [vide$ fvnding to the Theatre and had LDC CoUrlI10rS serving as Trustees, but in a private capacity (non-preSenlats.veI. In the year to July 2024. the Theatre received £nil12023- £3.5001 in Warm Space5 grantfunding arKJ £133.33312023.. £1,000) under a strategic partnership agemenl The Theatre purchased marwd serCeS and othernon-5tandard services from the Council amunting 10 £6,29012023- £6,290). 35