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2022-03-31-accounts

Marina Theatre Trust

Company limited by guarantee

Financial Statements For the year ended 31 March 2022

Company Registration Number 07824326

Charity Number 1149133

Marina Theatre Trust

Company limited by Guarantee

Contents

Year ended 31 March 2022

Page
Trustees Annual Report (incorporating the director's report) 1 - 9
Independent auditor's report to the members 10 - 12
Statement of financial activities (including income and expenditure account) 13
Balance Sheet 14
Statement of Cash Flows 15 - 16
Notes to the financial statements 17 - 26

Marina Theatre Trust

Company limited by guarantee

Trustees' Annual Report

Year ended 31 March 2022

The Trustees present their report and audited consolidated financial statements of the charity and group for the year end 31 March 2022 which are also prepared to meet the requirements for a director's report and accounts for Companies Act purposes.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and Companies Act 2006 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019.

Reference and Administrative Details

Registered charity name Marina Theatre Trust Charity registration number 1149133 Company registration number 07824326 Principal office and registered The Marina Theatre office Marina Road Lowestoft Suffolk NR32 1HH The trustees The trustees who served during the year and at the date of approval were as follows: Mr D Blyth (Chair) Mr A J Gallant (Vice Chair) Mrs H M Clover Mr N J Cullingford Mr M R Pinner Mr R R Townley Mrs S Barker (appointed 4 August 2021 and resigned 30 June 2022) (Lowestoft Town Council appoin Mrs A Taylor (appointed 1 August 2021 and resigned 19 May 2022) (Lowestoft Town Council appoint Bankers Lloyds Bank 16 Gentleman's Walk Norwich NR2 1LZ Auditor Lovewell Blake LLP Chartered Accountants & Statutory Auditor Bankside 300 Peachman Way Broadland Business Park Norwich Norfolk NR7 0LB

1

Marina Theatre Trust

Company limited by Guarantee

Trustees' Annual Report (incorporating the director's report) (continued)

Year ended 31 March 2022

Objectives and activities

The Trust was established for the public benefit to advance the arts by the management and development of the Marina Theatre, Lowestoft and its audiences and programme.

Our vision and aim is to deliver an inclusive and entertaining cultural offer for the people of Lowestoft, Waveney and the immediate region, and to play an active role in the lives of everyone in out town, enabling all to realise their potential and feel part of our thriving

The Trustees confirm that they have reviewed the Charity Commission guidelines on public benefit and consider a public benefit is provided to the communities of Lowestoft and beyond as described in the objectives, aims, activities and achievement of the charity.

Aims

Service Aims

Strategic Aims

Achievements and Performance

Due to the worldwide Covid-19 Pandemic, the Marina Theatre has not been able to achieve as much progress in delivering its ambitions as the Trust would have liked.

The year 2021-22 has been a challenging one for the Marina Theatre. With many ups and downs, it has been something of a nail-biting rollercoaster ride, government guidelines dictating much of our operations. The year began during Lockdown 3, but the Marina reopened to the public in mid-April in the only form it could at that point – an outdoor café! The back loading yard, usually full of lorries unloading scenery, props & instruments, became The Yard: a colourful, sunny and welcoming place for people to meet in the town centre. This was the only café open for drink/eat-in at that point.

From April 2021 to March 2022 it should be noted that the Marina Theatre has:

2

Marina Theatre Trust

Company limited by Guarantee

Trustees' Annual Report (incorporating the director's report) (continued)

Year ended 31 March 2022

Achievements and performance (continued)

Programming - Artistic and Necessary

Continuing waves and restrictions due to Covid-19, artistic programming has very definitely suffered during this year. With many ups and downs, it has been something of a nail-biting rollercoaster ride, government guidelines dictating much of our operations.

The year began during Lockdown 3, but the Marina reopened to the public in mid-April in the only form it could at that point – an outdoor café! The rear loading yard, usually full of lorries unloading scenery, props and instruments, was given a makeover and became The Yard: a colourful, sunny and welcoming place for people to meet in the town centre. This was the only café open for drink/eat-in at that point. With colourful seating for 32, shading parasols, a large image of the local beach as a ‘view’ (covering a tatty shipping container!) and planters for flowers, herbs and some vegetables. These herbs and vegetables to be used in the Café.

The Yard was hugely popular from the start, more than repaying the investment of time and effort. It was considerably more popular than anticipated, resulting in all admin staff working café shifts, often on a regular basis. We were surprised that the focus of The Yard Cafe was now food, not just tea and coffees. The average transaction spend actually increased from its pre-Covid level of just over £3 to just over £9 by the end of May. Many customers were sad when The Yard had to close at the beginning of September. However, as the reason was the proper resumption of live shows it could not really be regretted. In mid-May once indoor meeting was allowed, the Marina Cafe indoors reopened, albiet with much reduced capacity. Customers were happy to have the option and the chance to get used to mixing again.

In May, we began a small programme of films and screenings. In line with government guidelines, this was with a much-reduced capacity: with social distancing of 2 metres in place the 775-seater Marina auditorium was reduced to a maximum of 140 seats. In reality this was closer to 100 as it depended very much on booking party size. Audiences were small but very happy with the Covid-safety measures in place.

Much to our regret, live shows didn’t return (except 2 hardy locally-based companies) over the summer as the much reduced capacity and audience reticence made them unviable in both practical & financial terms.

From the start of September, we added in a substantial programme of live performances from comedy to music and drama to magic. Audiences were still considerably smaller, especially as Covid cases rose again as the autumn went on. There were also several shows who had to cancel due to Covid. For example, Luke Wright, Hats Off To led Zeppelin, Endless Love, Rocketman, Siobhan Phillips, Robert Temple, Ed Byrne, Ballad of Maria Marten, Ultimate Boy Bands, Mersey Beatles, Nutcracker & Joel Dommett. This resulted in significantly less income than forecast during that period.

Panto did happen in 2021 in the form of Cinderella which was truly wonderful and a real boost to the theatre and the town. Sadly, as it coincided with the emergence of the Omicron variant ticket sales ground almost to a halt and many tickets had to be refunded as the pandemic raged again. Despite low numbers, the panto was among only a very few in the country that did not have to close or lose even a single show due to Covid cases in cast or crew. This is testament to the determination and commitment of all involved who mixed only in their bubble and agreed not to go to pubs or restaurants for the duration. The cast, crew and staff may not have had much festive fun, but their dedication gave Lowestoft a full panto at the Marina for the first time in two years. The theatre has always sold a good number of tickets for the next year’s panto when that year’s opens but this boost was lost to us as well due to Omicron and general wariness.

Unfortunately, the Lowestoft Players amateur panto in January fell victim to Covid resulting in a cancellation that saddened everyone involved in the production & the theatre. It was also regrettable that due to a full programme of rescheduled shows in the spring it could not be presented at the Marina this year.

The Marina also usually presents a varied mix of Live Screenings by some of the best companies in the UK and the world. This strand of our work is an important part of our programming and enables our audiences to experience great performances from other parts of the UK and abroad.

Restrictions early in the year meant a later start than planned to films & screenings. However, we were to screen productions from the National Theatre, Maastricht, Northern Ballet, the West End, and Handa Opera, as well as some Fine Art exhibitions.

Cinema programming was hard this year as so many films either had their release dates postponed or were released straight to streaming services. This meant there was less suitable product than previously. However, we programmed what we could and made it our mission to us the films programme as a ‘gateway to returning’ for our patrons. To this end, we commissioned and worked with a local artist/film-maker Stephen Wisdom to create a light-hearted film to convey the rules/restrictions – in a 1940s film noir style! This was both very effective and very popular.

It goes without saying that this year has seen much less income than we hoped. It is only thanks to CRF funding from the Arts Council, as well as the continuing financial support from LTC and ESC that we remain open today. The Trust and staff wish to take this opportunity to express their grateful thanks to LTC, and the people of Lowestoft for the support and love for their theatre.

The arts are important to society and regional theatres provide the inspiration and opportunities that encourage, nurture and produce the performers you see in the West End and on your screens, small and large, as well as the technicians and support staff who work hard behind the scenes to make them happen.

3

Marina Theatre Trust

Company limited by Guarantee

Trustees' Annual Report (incorporating the director's report) (continued)

Year ended 31 March 2022

Government funding

During FY 2021/22 the Trust was successful in its applications for government grants via Arts Council England:

Again these grants were absolute life-rafts for the Trust, enabling it to stay afloat and its staff remain employed.

The Trust is also grateful to its landlord and principal stakeholder, Lowestoft Town Council, for advancing management fee payments throughout the year.

East Suffolk Council have also been exemplary in making sure closed business grants were forthcoming to the Trust with the minimium of admin work for a much-depleted staff team.

Outreach and learning

Yet again the planned relaunch of the Community Engagement department/strategy had to be postponed due to continuing Covid restrictions into mid/late July.

Despite our over-60s Next Stagers group continuing to meet every week via Zoom, in person work did not start until the summer and then numbers were low and activitied limited initially. Classe restarted in earnest in September. Numbers have been lower than expected/jhoped for but have grown over the year. Other groups have been added over the months, so we now have: two Youth Theatre, Young Company, 60+ Next Stagers, two choirs, two ukulele groups, a writing group and early years and dementia-friendly music groups.

In addition, funding from Garfield Weston enabled a seniors writing for the stage project - Unspoken Stories - to happen, albeit plays for radio rather than for stage. Covid again but spun for a new type of work.

Community work is fimily embedded in Marina Life and in Lowestoft itself. We know how important it is, especially at this time when socal skills and opportunities have taken such a baterring.

Leadership and Staffing

Again, not a great year for management and staff at the Marina Theatre Trust. Having reduced staff to just ten, mostly part time, following redundancy restructure in 2020, the Trust lost five of these ten in the first months of this financial year. This was for a variety of reasons including retirement, relocation and lifestyle changes due to Covid.

To say this was a blow is an understatement. However, the CEO and remaining management worked tirelessly to keep staff morale as high as possible and to pivot staff wherever possible and whenever necessary. Marketeers became projectionists, Front of House and Box Office Managers ran to Café and the CEO washed up!

Recruitment has proved exceedingly hard (and still is), in both senior and junior roles. However, promotion of talented, knowledgeable and enthusiastic junior staff filled three of these roles. The junior slots have been hard to fill and much of the year this ‘slack’ has been taken up again by those recently promoted and the CEO. This is far from ideal but, writing in summer 2022, these roles are now being filled.

Recruitment of technical staff is an industry and country wide problem. The Trust was lucky enough to attract a skilled and experienced Technical Manager in September. His job in the first months was made more complex by the need to find a build a new team. This has been achieved well: employing, training and upskilling local people. Although a little green, this team is working well.

The Marina Theatre Trust is now much younger, very keen and very dedicated to their theatre. Although demoralising in many, many ways, the Covd-19 pandemic has resulted in a much tighter and committed team.

4

Marina Theatre Trust

Company limited by Guarantee

Trustees' Annual Report (incorporating the director's report) (continued)

Year ended 31 March 2022

2021/21 and the Covid-19 Pandemic

For the second year, Covid 19 laid waste to our profits, audiences, operating model, staff and plans.

Live shows continued to be cancelled for April - September. Although legally possible, low capacities, low sales and low audience confidence made live shows impractical and unviable financially.

Autumn and Spring shows had lower audiences and shows were still being cancelled due to Covid illness and low sales, putting big holes in the programme.

Panto was uncertain until later in the year and the new Omicron wave slashed anticipated audiences. Arts Council CRF3 funding was invaluable to boost marketing spend and help with wages costs - overheads don't reduce even if audience numbers do.

The Trust flexed is business and operating model to stay open in whatever form was possible.

Towns Fund

The Trust continues to work with East Suffolk Council in its Towns Investment Fund Bid for £24.9m. £3.2m has been earmarked for capital redevelopment work for the Marina Theatre. This is a fantastic opportunity for the Trust and inclusion in the bid is testament to the strong and improving relationship between the Trust and local councils.

The elements to be included in this were identified in the organisational development projects of 2017-18 and 2019-20:

In order to use this funding well and prepare for possible other fundraising work detailed and specific feasibility work needs to be done. An advance draw-down has been agreed by ESC. This agreed was not finalised until May 2022.

Financial review

Principal funding sources

A detailed breakdown of the various sources of income can be seen in the notes to the accounts. The primary source of income was box office receipts.

The group also receives funds in the way of a management fee towards the running cost of the theatre and grants for projects, together with income from the running of the café and bar within the theatre.

Financial review of the year

The results for the year are shown on pages 12 to 25.

The year ended 31 March 2022 showed a surplus of £96,312 (2021: surplus of £168,420, 2020: surplus of £14,254, 2019: surplus of £68,470).

5

Marina Theatre Trust

Company limited by Guarantee

Trustees' Annual Report (incorporating the director's report) (continued)

Year ended 31 March 2022

Reserves policy

It is generally accepted, and recognised by Arts Council England in their Cultural Recovery Fund 2021/21 guidelines, that charitable organisations such as the Marina Theatre Trust, should look to have three to six months of operational reserves. Trustees agree that this is the level of reserves the Trust is aiming for. For the Marina Theatre Trust this is £120,000 - £240,000.

The Trust's Reserves Policy aims to ensure that all contractual, legal, administration and personnel obligations can be honoured in the event of the Trust and/or Theatre being unable to function.

The Policy also ensures that customers can be fully refunded should the Theatre not be able to present events for which tickets have been purchased for.

Lowestoft Town Council acts as guarantors of the Trust, the arrangements of which are provided in the governing Management

Provision for building repairs, maintenance and safety is managed as part of the Theatre's maintenance and investment programme and planning, H&S policy, local risk assessments and lease arrangements.

The live performance programme is procure on the basis of low risk against suitability and customer demand.

Together with the management of the Trust, the Trustees are actively seeking to increase income from all sources of the Trust's activities and to manage costs and efficiencies to enable it to increase its reserves to provide a stronger financial position to enable it to generate further cash flow to invest into the facilities and services for public benefit. The Trustees continue to develop the reserves policy of the Trust in terms of the future value of reserves required to be held and this will be concluded in the forthcoming year.

At the period end the group had net assets of £283,123 (2021: £186,811). The restricted funds of the group as at 31 March 2022 were £nil (2021: £23,000). As at 31 March 2022 the group had free reserves of £268,636 (2021: £135,692). The Trustees are aware the reserves held at the year end were in excess of the policy. It is anticipated that an element of the reserves will be used during the year ended 31 March 2023 whilst the Trust is developing its programme and also building audiences back to pre covid levels.

Going concern

The trustees have a future financial plan in place to drive growth and sustainability. There are clear and robust budgets and forecasts in place to aid the financial strategy. Management accounts and budgets are reviewed at each board meeting with significant income and expenditure highlighted. The trustees also have put in place a suitable and experienced management team with additional finance support to drive the operational and business plan over the next year.

Plans for future periods

Writing in August 2022 and reading last year's report, it is another very different world that lies in front of us. Audiences are smaller and both promoters and audience alike are more twitchy than they were. However, they are coming which is a plus this year.

The Trust and staff will do whatever it takes to be open and provide entertainment and culture for the people of Lowestoft. What the Autumn and Winter will bring in terms of pandemic resurgence and the cost of living crisis remains to be seen. But, the bookings diary for 2022-23 is almost full of both live shows and screening. Our Cafe is frequently full and buzzing, and our staff are possibly the most determing and capable young team and organisation could wish for.

In addition, capital redevelopment feasibiity works begin shortly and will run until the end of the financial year 2022-23. This is an exciting project, for the Trust and for Lowestoft.

The Marina continues to look forward and build back to an even better future.

The Tust is in a very different position at the time of writing than it was approaching year end in early March.

The Trust's relationship with Lowestoft Town Council continues to develop well and is both open and supportive. Conversations are wideranging about possibilities of working together to serve the community in the building and out of it. Relationships with both East Suffolk Council and Suffolk County Council continue to be cordial and improving. The Trust has further developed a good relationship with Arts Council England.

Programming continues to be committed to presenting a diverse programme to suit a range of public tastes. The emphasis is on maintaining a popular programme, helping to maintain the viability of the theatre, but this is combined with a determined desire to programme a range of new, intensive and exciting cultural offerings. Although audiences are not up to pre-Covid levels yet, the movement is in the right direction.

The 2018-23 Business Plan still stands in principle and in ambition, but the Covid-19 pandemic has made the timescale targets redundant. The Trust is again working with Arts Quarter consultants to review the business operating model and the Business Plan, especially in conjunction with capital redevelopment plans.

6

Marina Theatre Trust

Company limited by Guarantee

Trustees' Annual Report (incorporating the directors report) (continued)

Year ended 31 March 2022

Structure, governance and management

Governing document

The Marina Theatre Trust is a company limited by guarantee and does not have any share capital. The company was incorporated on the 26 October 2011 and is governed by its Memorandum and Articles of Association. The company also gained registered charitable status on 27 September 2012.

Recruitment and appointment of Trustees

Trustees shall be persons through residence, occupation, employment or otherwise have special knowledge of the area of benefit or who are otherwise able by virtue of their personal or professional qualifications to make a contribution to the pursuit of the objects of the charity.

Under the Memorandum and Articles of Association the Board shall consist of at least three individuals and up to eleven. The Board should be comprised of up to nine Community Trustees plus two individuals nominated by the Local Authority. Following the transfer of the property to Lowestoft Town Council there have been no Trustees appointed by East Suffolk Council. Following the year end Lowestoft Town Council made the decision to no longer appoint Trustees to the board therefore at the year end there were no representatives of the Local Authority on the board of Trustees.

The Trustees are required by the Memorandum and Articles of Association to serve for a period of four years except for Local Authority Trustees, whose period of appointment is determined by the Local Authority.

Trustees are directors of the company for the purpose of company law. All Trustees who served during the year and remain in post as at the date of this report are shown on page 1.

Trustee training and induction

On appointment the Trustees are provided with:

In addition, Trustees are encouraged to read Charity Commission and other newsletters and to attend courses designed to keep them abreast of their duties and responsibilities.

Risk assessment

The Trustees have reviewed the major risks to which the Trust is exposed, in particular those associated with the operation of the Trust.

Organisational structure

The Trust has a board of Trustees who meet every two months and are responsible for the strategic direction and operational policies of the Trust.

The day to day operations of the Trust are managed by the Chief Executive and the senior management.

Key management remuneration policy

The trustees set the Chief Executive and management teams' salary in line with industry expectations for the theatre's current scale and operation. These salaries are reviewed yearly by the trustees.

Related parties

On 26 January 2017 the Trust incorporated its wholly owned trading company, Marina Theatre Trading Limited, which carries out the operation of the café and bar within the theatre.

East Suffolk Council provided funding and facilities to the Trust under the provision of The Management Agreement, The Support Services Agreement, The Business Transfer Agreement and the Property Lease. As of 1 April 2017, East Suffolk Council transferred ownership of the property, which continues to be occupied by the Trust, to Lowestoft Town Council. The Management Agreement, The Support Service Agreement and The Business Transfer Agreement are currently under discussion between East Suffolk Council, Lowestoft Town Council and Marina Theatre Trust.

Under the Memorandum and Articles of Association East Suffolk Council have the right to appoint two Trustees however as the Supplemental Management Agreement is still not agreed and signed, these Trustees no longer attend. As Lowestoft Town Council own the buildings and pay the management fee, we invited two appointees from Lowestoft Town Council to attend during this (extended) transition period. Two Trustees were in attendance during the year however since the year end Lowestoft Town Council decided they no longer needed representation on the board.

7

Marina Theatre Trust

Company limited by Guarantee

Trustees' Annual Report (incorporating the directors report) (continued)

Year ended 31 March 2022

Trustees responsibilities statement

The Trustees (who are also directors of Marina Theatre Trust for the purposes of company law) are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Account Practice).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisified that they give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including income and expenditure, of the charitable company and the group for that period.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

Each of the persons who is a trustee at the date of approval of this report confirms that:

The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.

Small company provisions

This report has been prepared taking advantage of the small companies' exemption of section 415A of the Companies Act 2006.

The trustees' annual report was approved on 16 September 2022 and signed on behalf of the board of trustees by:

Mr D Blyth (Chair) Trustee

8

Marina Theatre Trust

Company limited by Guarantee

Independent Auditor's Report to the Members and Trustees of Marina Theatre Trust

Year ended 31 March 2022

Opinion

We have audited the financial statements of The Marina Theatre Trust (the ‘parent charitable company’) and its subsidiary (the ‘group’) for the year ended 31 March 2022 which comprise Consolidated Statement of Financial Activities (including income and expenditure account), Consolidated Balance Sheet, Consolidated Statement of Cash Flow parent charitable company's Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group and parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the trustees’ annual report , other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and Charities Act 2011 require us to report to you if, in our opinion:

9

Marina Theatre Trust

Company limited by Guarantee

Independent Auditor's Report to the members of Marina Theatre Trust (continued)

Year ended 31 March 2022

Matters on which we are required to report by exception (continued)

Responsibilities of the trustees

As explained more fully in the trustees’ responsibilities statement (set out on page 9), the trustees (who are also the directors of the parent charitable company fo the purposes of company law) are responsible for the preparation of financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group’s and parent charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under the Companies Act 2006 and section 151 of the Charities Act 2011 and report in accordance with those Acts.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/OurWork/Audit/Audit-and-assurance/Standards-and-guidance/Standards-and-guidance-for auditors/Auditors-responsibilities-foraudit/Description-of-auditors-responsibilities-for-audit.aspx. This description forms part of our auditor’s report

10

Marina Theatre Trust

Company limited by Guarantee

Independent Auditor's Report to the members of Marina Theatre Trust (continued) Year ended 31 March 2022

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and to the charitable company’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s members and its trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Mark Proctor FCA DChA (Senior Statutory Auditor)

For and on behalf of

Lovewell Blake LLP Chartered Accountants & statutory auditor Bankside 300 Peachman Way Broadland Business Park Norwich NR7 0LB

19 December 2022

Lovewell Blake LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

11

Marina Theatre Trust

Company limited by Guarantee

Consolidated statement of financial activities (including income and expenditure account)

Year ended 31 March 2022

----- Start of picture text -----
Notes General Restricted 2022 2021
Funds Funds Total Total
£ £ £ £
Income and endowments
Donations and legacies 5 32,385 299,761 332,146 426,648
Charitable activities 6 828,443 20,700 849,143 173,036
Other trading activities 7 106,968 - 106,968 4,463
Other income 8 - - - 120,647
Total income 967,796 320,461 1,288,257 724,794
Expenditure
Raising funds 9 (34,911) (66,172) (101,083) (40,532)
Charitable activities 10 (813,574) (277,289) (1,090,863) (515,842)
Total expenditure (848,484) (343,461) (1,191,945) (556,374)
Net income before transfers 119,312 (23,000) 96,312 168,420
Transfers between funds - -
Net income and net movement in funds 119,312 (23,000) 96,312 168,420
Reconciliation of funds
Total funds brought forward 163,811 23,000 186,811 18,391
Total funds carried forward 20 283,123 - 283,123 186,811
----- End of picture text -----

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes set out on pages 16 - 25 form an integral part of the accounts

12

Marina Theatre Trust

Company limited by Guarantee

Consolidated Balance Sheet

Year ended 31 March 2022

----- Start of picture text -----
Notes 2022 2022 2021 2021
Charity Group Charity Group
£ £ £ £
Fixed Assets
Tangible fixed assets 14 11,027 14,487 24,743 28,119
Investments 15 1 - 1 -
11,028 14,487 24,744 28,119
Current Assets
Stock 16 - 3,398 - 1,825
Debtors 17 138,086 53,074 109,589 85,243
Cash at bank and in hand 537,498 621,454 388,980 396,609
675,584 677,926 498,569 483,677
Creditors: amounts falling due
within one year 18 (403,489) (409,290) (321,669) (324,985)
Net current liabilities 272,095 268,636 176,900 158,692
Total assets less current liabilities 283,123 283,123 201,644 186,811
Funds of the charity
Unrestricted funds 21 283,123 283,123 178,644 163,811
Restricted funds 21 - - 23,000 23,000
Total charity funds 283,123 283,123 201,644 186,811
----- End of picture text -----

These financial statements have been prepared in accordance with the provisions applicable to companies subject to small companies regime.

These financial statements were approved by the board of trustees and authorised for issue on 16 September 2022 and are signed on behalf of the board by:

Mr D Blyth Chair Company registration number: 07824326

Mr N J Cullingford Trustee

The notes set out on pages 16 - 25 form an integral part of the accounts

13

Marina Theatre Trust

Company limited by Guarantee

Consolidated statement of cash flows

Year ended 31 March 2022

----- Start of picture text -----
2022 2021
£ £
Cash flows from operating activities
Net income 96,312 168,420
Adjustments for:
Depreciation of tangible fixed assets 15,582 15,338
-
Gain on disposal of tangible assets (75)
Changes in:
Stock (1,573) 817
Trade and other debtors 32,169 (12,447)
Trade and other creditors 84,305 15,281
Net cash from operating activities 226,795 187,334
Cash flows from investing activities
Purchase of tangible assets (1,950) (5,937)
Proceeds from disposal of tangible assets - 299
Net cash used in investing activities (1,950) (5,638)
Net increase in cash and cash equivalents 224,845 181,696
Cash and cash equivalents at beginning of year 396,609 214,913
Cash and cash equivalents at end of year 621,454 396,609
----- End of picture text -----

The notes set out on pages 16 - 25 form an integral part of the accounts

14

Marina Theatre Trust

Company limited by Guarantee

Statement of cash flows

Year ended 31 March 2022

----- Start of picture text -----
2022 2021
£ £
Cash flows from operating activities
Net income 81,478 180,402
Adjustments for:
Depreciation of tangible fixed assets 13,716 13,716
Changes in:
Trade and other debtors (28,497) (11,747)
Trade and other creditors 81,820 19,932
Net cash from operating activities 148,517 202,303
Cash flows from investing activities
-
Purchase of tangible assets (5,402)
-
Net cash used in investing activities (5,402)
Net increase in cash and cash equivalents 148,517 196,901
Cash and cash equivalents at beginning of year 388,980 192,079
Cash and cash equivalents at end of year 537,497 388,980
----- End of picture text -----

The notes set out on pages 16 - 25 form an integral part of the accounts

15

Marina Theatre Trust

Company limited by Guarantee

Notes to the financial statements

Year ended 31 March 2022

1 General information

The charity is a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales.

The address of the registered office is The Marina Theatre, Marina Road, Lowestoft, NR32 1HH, Suffolk.

The nature of the charity's operations and principal activities are outlined within the trustees report.

2 Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) issued in October 2019 and Companies Act 2006 and the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102.

3 Accounting policies

(a) Basis of accounting

The financial statements have been prepared under historical cost convention.

The presentation currency of the charity is sterling.

(b) Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

The Trustees have considered the impact of Covid 19 when assessing the going concern status of the group.

(c) Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the group's purposes.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal.

(d) Income

All income is included in the Statement of Financial Activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

• Ticket sales income is recognised at the date of the relevant performance. Income from any show that straddles two accounting periods is split in accordance with the actual sales per performance.

• Donations and legacies are received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.

• Income from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.

16

Marina Theatre Trust

Company limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 March 2022

3 Accounting policies continued

(e) Expenditure

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered under partial exemption, and is reported as part of the expenditure to which it relates:

• Costs of raising funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes.

• Charitable activities comprise those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. The cost of performances is recognised at the date of the performance. Charitable activity costs includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

• Governance costs include those costs associated with meeting the constitutional and statutory requirements of the group and include the audit fees and costs linked to the strategic management of the group.

• All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis e.g. floor areas, per capita or estimated usage as set out in the notes to the accounts.

(f) Tangible assets

Tangible assets are initially recorded at cost

(g) Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures, fittings and equipment - 10% and 25% straight line

(h) Investments

Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.

(i) Stock

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

(j) Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

(k) Pension

In the previous year the Group operated a defined benefit pension scheme. The risk of the deficit was borne by East Suffolk Council therefore the Group did not recognise the liability. The pension costs in the accounts reflect the contributions made in the

The Group also operated a defined contribution scheme for employees, the assets of which are held separately from those of the Group in an independently administered fund. The pension costs in the accounts reflect the contributions made in the year.

(l) Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

17

Marina Theatre Trust

Company limited by Guarantee

Notes to the financial statements

Year ended 31 March 2022

3 Accounting policies continued

(l) Redundancy

Where an obligation to make a redundancy or termination payment exists, the costs incurred by the charity are accounted for on an accruals basis and included within employee benefits.

4 Limited by guarantee

The Trust is a company limited by guarantee. Each member of the Trust undertakes to contribute such an amount (not exceeding £1) as may be required in the event of winding up.

5 Donations and legacies
Arts Council - ERF
Arts Council - CRF
Donations
Grants		 £
£
£
£
£
£
-
-
-
-
34,589
34,589
-
290,961
290,961
-
298,819
298,819
8,385
-
8,385
39,379
-
39,379
24,000
8,800
32,800
53,861
-
53,861
32,385
299,761
332,146
93,240
333,408
426,648
Total Funds
2021
Unrestricted
Funds
Total Funds
2022
Restricted
funds
Unrestricted
Funds
Restricted
Funds

During the year ended 31 March 2022 £26,800 (2021: £49,085) of government funding was received.

6 Charitable activities
Lowestoft Town Council
Box office income
Film box office income
Ticket levy and postage charges
Orchestra live subsidy
Stage and room hire income
Artists recharges
Advertising income
Education income
Other income		 Unrestricted
Funds
Restricted
Funds
Total Funds
2022
Unrestricted
Funds
Restricted
Funds
Total Funds
2021
£
£
£
£
£
£
150,000
-
150,000
150,000
-
150,000
515,108
-
515,108
-
-
-
22,699
-
22,699
4,594
-
4,594
48,967
-
48,967
2,437
-
2,437
7,608
-
7,608
4,500
-
4,500
10,181
-
10,181
-
-
-
65,763
-
65,763
311
-
311
114
-
114
469
-
469
-
20,700
20,700
-
-
-
8,003
-
8,003
10,725
-
10,725
828,443
20,700
849,143
173,036
173,036

During the year ended 31 March 2022 £150,000 (2021: £150,000) of government funding was received or due in accordance with the management agreement.

7 Other trading activities
Programmes and merchandise income
Food and beverage income
8 Other income
Covid 19 Job Retention Scheme		 Unrestricted
Funds
Restricted
Funds
Total Funds
2022
Unrestricted
Funds
Restricted
Funds
Total Funds
2021
£
£
£
£
£
£
1,904
-
1,904
3
-
3
105,064
-
105,064
4,460
-
4,460
106,968
-
106,968
4,463
-
4,463
Unrestricted
Funds
Restricted
Funds
Total Funds
2022
Unrestricted
Funds
Restricted
Funds
Total Funds
2021
£
£
£
£
£
£
-
-
-
120,647
-
120,647

18

Marina Theatre Trust

Company limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 March 2022

----- Start of picture text -----
9 Costs of other trading activities
Unrestricted Restricted Total Funds Unrestricted Restricted Total Funds
Funds Funds 2022 Funds Funds 2021
£ £ £ £ £ £
Food and beverage costs 34,446 6,345 40,791 6,979 - 6,979
Food and beverage wages and salaries - 59,827 59,827 33,553 - 33,553
Programme and merchandise costs 465 - 465 - - -
34,911 66,172 101,083 40,532 - 40,532
10 Expenditure on charitable activities
Unrestricted Restricted Total Funds Unrestricted Restricted Total Funds
Funds Funds 2022 Funds Funds 2021
£ £ £ £ £
Costs of theatre production 380,800 190 380,990 45,117 - 45,117
Film costs 12,579 - 12,579 4,918 - 4,918
Wages and salaries 165,825 113,737 279,562 89,363 190,011 279,374
Marketing and advertising 52,948 28,837 81,785 17,761 - 17,761
Depreciation 15,582 - 15,582 15,338 - 15,338
- - - -
Gain on disposal of fixed assets (75) (75)
Support costs 164,384 134,525 298,909 93,183 42,123 135,306
Governance costs 21,456 - 21,456 18,103 - 18,103
813,574 277,289 1,090,863 283,708 232,134 515,842
Analysis of support costs
Unrestricted Restricted Total Funds Unrestricted Restricted Total Funds
Funds Funds 2022 Funds Funds 2021
£ £ £ £ £ £
Other Staffing costs 9,812 - 9,812 1,809 - 1,809
Premises and maintenance costs 117,692 31,800 149,492 78,273 - 78,273
Project costs - 27,738 27,738 10,000 42,123 52,123
Administration costs 32,084 74,987 107,071 38,624 - 38,624
Legal and professional fees 4,795 - 4,795 1,600 - 1,600
164,384 134,525 298,909 130,306 42,123 172,429
Analysis of governance costs
2022 2021
£ £
Auditors remuneration - audit services 8,660 10,676
Auditors remuneration - non audit services 12,796 7,427
21,456 18,103
11 Net income
Net income is started after charging/(crediting)
2022 2021
£ £
Depreciation of tangible fixed assets 15,582 15,338
Operating lease costs 22,500 12,500
----- End of picture text -----

19

Marina Theatre Trust

Company limited by guarantee

Notes to the financial statements (continued)

Year ended 31 March 2022

12 Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

Wages and salaries
Social security costs
Employer contributions to pension plans		 2022
2021
£
£
318,920
294,009
15,633
12,683
4,837
6,235
339,389
312,927
Wages and salaries include statutory redundancy pay of £nil (2021: £34,379).
Management and administration staff
Food and beverage
Throughout the period the Trust employed the following number of employees on either a
Theatre staff (including front and
back of house)		 2022
2021
11
13
4
7
8
4
full time or part time basis.
23
24

No employee received employee benefits of more than £60,000 during the year (2021: no employee).

Key Management Personnel

The Key Management Personnel include the Chief Executive together with the Technical Manager, Theatre Operations Manager and Catering and Hospitality Manager.

The total value of remuneration and benefits received by Key Management Personnel was £130,269 (2021: £107,296).

13 Trustee remuneration and expenses

No Trustees received remuneration or expenses during the year (2021: £Nil).

14 Tangible Fixed Assets - Group

Cost
As at 1 April 2021
Additions
As at 31 March 2022
Depreciation
As at 1 April 2021
Charge for the period
As at 31 March 2022
Net book value
As at 31 March 2022
As at 31 March 2021		 Fixtures,
fittings and
equipment
£
164,733
1,950
166,683
136,614
15,582
152,196
14,487
28,119		 Total
£
164,733
1,950
166,683
136,614
15,582
152,196
14,487
28,119

20

Marina Theatre Trust

Company limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 March 2022

14 Tangible Fixed Assets - Charity

Cost
As at 1 April 2021 and 31 March 2022
Depreciation
As at 1 April 2021
Charge for the period
As at 31 March 2022
Net book value
As at 31 March 2022
As at 31 March 2021
15 Investments - Shares in group undertakings
Cost
As at 1 April 2021 and 31 March 2022
Impairment
As at 1 April 2021 and 31 March 2022
Net book value
As at 31 March 2022
As at 31 March 2021		 Fixtures,
fittings and
equipment
Total
£
£
158,247
158,247
133,504
133,504
13,716
13,716
147,220
147,220
11,027
11,027
24,743
24,743
2022
2022
Charity
Group
£
£
1
-
-
-
1
-
1
-

All investments shown above are held at valuation.

The Charity holds 1 share of £1 in its wholly owned subsidiary company Marina Theatre Trading Ltd (company number 10584566) which is incorporated in the United Kingdom. The company operates the café and bar within the Marina theatre. The profits of the company are donated to the Marina Theatre Trust by Gift Aid.

The summary financial performance of the subsidiary alone is:

Turnover
Expenditure
Profit/(loss)
Amount donated to Marina Theatre Trust by Gift Aid
Net assets/(liabilities)		 2022
2021
£
£
102,131
18,988
(42,526)
(30,970)
59,605
(11,982)
44,772
-
1
(14,832)

21

Marina Theatre Trust

Company limited by Guarantee

Notes to the financial statements

Year ended 31 March 2022

16 Stock

Stock is held for resale in the Trust's café, bar and kiosk.
17 Debtors
Trade debtors
Prepayments and accrued income
Other debtors
Amounts owed by group undertakings
18 Creditors: Amounts falling due within one year
Trade creditors
Accruals and deferred income
Other creditors
Deferred income brought forward
Released during the year
Deferred during the year
Deferred income carried forward
Raw materials and consumables		 2022
2022
2021
2021
Charity
Group
Charity
Group
£
£
£
£
-
3,398
-
1,825
2022
2022
2021
2021
Charity
Group
Charity
Group
£
£
£
£
3,807
3,807
44,883
44,883
42,600
42,600
304
304
12,842
6,667
39,733
40,056
78,837
-
24,669
-
138,086
53,074
109,589
85,243
2022
2022
2021
2021
Charity
Group
Charity
Group
£
£
£
£
38,647
41,132
23,323
23,323
251,084
254,400
212,206
215,522
113,758
113,758
86,140
86,140
403,489
409,290
321,669
324,985
2022
2022
2021
2021
Charity
Group
Charity
Group
£
£
£
£
201,229
201,229
120,594
120,594
(201,229)
(201,229)
-
-
232,336
232,336
80,635
80,635
232,336
232,336
201,229
201,229

Deferred income represents funds received from the sale of tickets in advance of future performances or films and deferred grant income.

19 Pension and other post retirement benefits

The amount recognised as an expense in relation to the defined benefit pension scheme, liability of which is borne by East Suffolk Council, was £Nil (2021: £2,173).

The amount recognised in the statement of financial activities in relation to then defined contribution plan is £4,837 (2021: £4,062).

22

Marina Theatre Trust

Company limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 March 2022

20 Analysis of charitable funds

Unrestricted funds

Year ended 31 March 2022
General funds
Restricted funds
Property repairs
Community work
Arts Council - CRF2
Arts Council - CRF3
Year ended 31 March 2021
General funds
Restricted funds
Property repairs
Arts Council
Arts Council - CRF1
Great places		 At 1 April
Income
Expenditure
Transfers
At 31 March
2021
2022
£
£
£
£
£
163,811
967,796
(848,484)
-
283,123
23,000
8,800
(31,800)
-
-
-
20,700
(20,700)
-
-
-
148,961
(148,961)
-
-
-
142,000
(142,000)
-
-
23,000
320,461
(343,461)
-
-
186,811
1,288,257
(1,191,945)
-
283,123
At 1 April
Income
Expenditure
Transfers
At 31 March
2020
2021
£
£
£
£
£
(4,609)
391,386
(324,240)
101,274
163,811
23,000
-
-
-
23,000
-
34,589
(10,966)
(23,623)
-
-
298,819
(220,168)
(78,651)
-
-
-
(1,000)
1,000
-
23,000
333,408
(232,134)
(101,274)
23,000
18,391
724,794
(556,374)
-
186,811

Property repairs: represents funding received from regarding fire alarm works.

Community work: represents funding received towards community outreach work.

Arts funding: represents funding received towards the completion of an organisational business development plan.

Great Places: represents funding received to carry out various theatre related projects in the community.

Arts Council - CRF 1, 2, 3: represents funding recevied to support the cost of reopening the theatre.

Transfers between funds

Transfers between funds represents elements of restricted funding related to core costs.

23

Marina Theatre Trust

Company limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 March 2022

21 Analysis of net assets between funds
As at 31 March 2022
Fixed assets
Current assets
Creditors less than 1 year
Net assets
As at 31 March 2021
Fixed assets
Current assets
Creditors less than 1 year
Net assets
22 Operating lease commitments
No later than 1 year
Later than 1 year and not later than 5 years
More than 5 years
The total future minimum lease payments under non-cancellable operating leases are		 Unrestricted
funds
Restricted
funds
Total Funds
2022
£
£
14,487
-
14,487
677,926
-
677,926
(409,290)
-
(409,290)
283,123
-
283,123
Unrestricted
funds
Restricted
funds
Total Funds
2021
£
£
28,119
-
28,119
460,677
23,000
483,677
(324,985)
-
(324,985)
163,811
23,000
186,811
2022
2021
£
£
21,875
22,500
80,000
81,875
235,726
255,726
337,601
360,101
as follows:

The amount of lease payments recognised as an expense in charitable activities during the year is £22,500 (2021: £12,500).

24

Marina Theatre Trust

Company limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 March 2022

23 Related parties

During the period the Trust received £150,000 (2021: £150,000) from Lowestoft Town Council in accordance with the management agreement. At the year end the Trust was owed £Nil (2021: £45,000).

The property occupied by the Trust is owned by Lowestoft Town Council and during the year rent was paid to the Council of £20,000 (2021: £10,000).

At the period end the Trust owed £Nil to Lowestoft Town Council and was owed £Nil from the Council.

During the year the Trust received £7,608 (2021: £5,400) towards costs incurred by the Trust and facility hire from East Suffolk Council. The Trust paid East Suffolk Council for non-domestic rates of £1,372 (2021: £Nil). The Trust paid East Suffolk Council for an annual premises licence of £295 (2021: £Nil)

The spouse of a member of the management team received remuneration during the period of £1,160 (2021: £13,931). No amounts were outstanding at the year end.

During the year the Trust incurred expenditure of £4,782 (2021: £1,505) for building services provided by a spouse of a member of the management team. At the year end the Trust owed £950 (2021: £Nil).

During the year the Trust incurred expenditure of £Nil (2021: £80) which relates to membership fees for the Association of British Theatre Technicians of which R Townley is a part of the key management personnel.

During the year the Trust incurred expenditure of £726 (2021: £363) for property maintenance services provided by a close family member of a member of the management team.

24 Results of Marina Theatre Trust

During the year, the charity made a surplus of £81,478 including gift aid from subsidiary of £44,772 (2021: surplus of £180,402). The charity is not required to produce their own Statement of Financial Activities because of the exemption provision in Section 408 of the Companies Act 2006.

25