Marina Theatre Trust Company limited by guarantse Financial Statements For the year ended 31 March 2023 Ctynpany Reglstratlon Numb•r 07824326 Charity Numb•r 1149133
Marina Theatre Trust Company limited by Guarantee Contents Year ended 31 March 2023 Pago Trustees Annual Report lincorporatyng difftcloV5 teporti INJeppndent auditors report to the members 9-11 Slaleffent of financ4 acbmlies lindud1 income and expenditure accounti BaL8n¢e set 13 Statement of Cash Flows 14- 15 Notes lo the financial stslemenls 16-25
Marina Theatre Trust Company limited by guarantse Trustse$' Annual Report Year ended 31 March 2023 The Trustees present ih8ir reporf and audrfed consolidated finanrjal statements of th& tharity and aroup for tre year end 31 Marth 2023 whlch are also yèpared to meet regulrements for a direclo¢8 report and attount5 forcompanies Ad purpose8. The finarKial sialements have been ppared In 8c¢ord8nce.with the accounting policies set out in notes lo the accounts and Gomptywth the ch8rSVs goveming document, Ihe Charibes Act 2011 and Companie$ Ad 2006 and AunD"9 and Reporting by Charithes". Ststemenl of Recommended Pracllca appllcable lo chanlies prepanry their aGcounts in accordance %th th8 Flnanrial Repoibng Standard applieabk in Ihe UK and Republic of Ireland published in O¢tober2019. RgfgT•nc• and Adrnlnltstrtfvo D•taMts Ragistsrnd ¢harfty n4m8 Marina Thee Trust Chartty reg15trttlofi thumbèr 1149133 Company rOglTatIon numbgr 07824326 pnt1P1 offic• and rngb6tsr•d offic• The Madna Theatre Marina Road Lowe510ft Suffolk NR32 1HH . Th• tru8t The trustees who served durfnu the year and al the date of approval were as follows.. Mr D Btyth IChlrl MrA J Gallant IVSce Chalrl hhrs H M Clover Mr N J Cuifingford Mr M R Pinner Mr R R T¢)wnley Mrs S Barker Iresigned 30 June 20221 (LeStOftT0wn Counul appoSnteel rs A TaWor (resigned 19 May 20221 (Lowest0ftT¢ Counryl appointtÈl Chl•lExqcutlv• Offlc•r rs E Buler Smrfh (until May 20231 Ba#k•rn Lloyds Bank 16 Genlem3n'5 Walk Norwich NR21LZ Audltor Lovewell Blake LLP Chartered Accouniais & SlaluloryAuditor B8nk8lde 300 Poachman Way Broadland Busir*ss Park NOlC Norfolk NR7 OLB
Marina Theatre Trust Company limited by Guarantee Trustees. Annual Report (incorporating the directorfs roport) {¢ontinuedl Year ended 31 March 2023 Obl8Ctlvtt and activities The TrLBI was eslablished for thè puNlc benefit to advance arts by the manggement and devebpmenl of the Marina Theatre. Loesloft arKI Ils audlences and prograrnme. Our wsion and aim is to deliver an inclusive aNJ entertring CUttU offer for the ople of LowEStott. WaverEy and immediaie region. arKJ 10 play an adive role in the INes of eryOne In OLrt to. tnabling all lo realise Iheir potential and feel part of our Ihriviry communlly. The Trustees n[Irn) thai they have reviewEd Charty Commission guidelines on Kxjblic berEfil ar consider a publi¢ berfil is prowded lo the comrnunilies of LoStort and tworKI as described in Ihe objective5. aims. acliwiies and achievement of the ¢harity. m¥ To provKle a cost efteciive and varied programme ofentert8inment and cuttural activities forthe pecpk of Lowesioft beyond.. To ensure a vaned and high gualty INe stage programme that reflecls Tr Theatre's caPalI11e5 and the demands of audiences.. To ensure the futu sustainability of the Marina The3lre as a live perfotmance venue lor Ihe region." . To maMIse the poteErtial of the Marina Theatre lo present fvrkner ltyjring pfoducbons and work in partnership wlth other venues arxl prixlucers.. To develop, promote. m3inlwn and advance commurity ergag8trnt in Ihe arts and Culture and raise the Iheaire'8 wofile in ddivering such oui¢omes, To reali$e the Mama Theatre's audiiorium capaknlties as the East of East AThJlia's ftrT commeral main$treaffl populist projramming. Strat8gl¢ Ensure strong adership and managemeni". Ensure slaffin9 and phys31 resource Is in place neo$5ary and approprk81e to ddiver our aim8 Ind19 Ihe valua? 8@te of volunteers.. Develop. Celebrate and promole our CLAtLYal fo in the local c(Knmunity and the wder region.. Further Improve M-siie se[vi5 induding calerlng, bats. Mx offiTr and other cusiotnerfacilibes.. To MMIse revenue potentipj through non-tickeled aciiwty including sponsorship. partnerships. fee5 and advertising.. To demonstrate the added value and benefils Ihat the Marina Theatfft provide5 the Ltrwesloft economy and community., To demonstrate a Val for money, quality, comfortable experience ihrou9h fair pricin9. transparenl easily inierprele marketing and ease of a¢ce55". Increase usage of other awa$ of Ihe Theatre, includSng the generaiion of income thro private hires. ternatiVe e¥ent5 ¢atenng Wlhoth compromisiw the audiiorilun's prlmary usage. Developrnent and delivery of a siraiegic community. yourKJ kopl& (xrtreach programme lIhI Lty¥e510ft and the wdeF reg10n. Achi&vomgrts and Porfomiancè The effed of the CoMd-19 pandemic is still bÈiny feft in the arts and eniertairiment iThXuslry. In addition, Steep rises In the c05t of limnglinflalion have meant the Marina Theatre has not be&n able to achieve quite Ss much progress in deli¥ering ils amtstion$ as the Trust uld have liked. That is not io say Il has been a bad year. far trom It, more that It riptyes of th& last Ihree years are still Ih2re. It 15 also IhÈ fiist full ye8r of operations po$i-pandemi¢. and the first yearTrMlhoul Art5 Council emergency support. The year2022-23 has still been a challenging Ihe Marina, allhouuh much more settd than ItE prious M). From April 2022 to March 2023. it Sul be noled that the Marina Theatre has.. Presented 151 li¥e performance5. 96 cinema films and 44 screenings (live and encore).. 11 performan5 cantrlled., AUdnCe numbers of 56.74912021-22.. 30.678.. 2020-21." 478.. 2019-20.. 67.0001,. Publi¢ donations 1 April 2022- 31 Marth 2023.. É7.780.49". Relaunch of Community oulreaeh a¢liwlie8.
Marina Theatre Trust Company limited by Guarantee Trustees, Annual Report (Incorporating the director's report) (contlnued) Year ended 31 March 2023 Achlevements 4ndperfomi•n¢¢ {¢ondnu•d) Programmlng This has been the first fulty programmed year since 20120. with Iwe p8rfornances from ¢omedy to mu8ic and drama to drag queenL Audienc¢$ have sts"Il been $maller Ihan pr+Covid, but notfor all progranThing Strands. Allhough f[}r¥St1 ol audien¢e numbers and income took into account a percentage of not-retuming audiences, we were Still surprised at the Icw turnoLrt for some shows. Hardest hit has been drarnalplays which have seen drastically smalbr audiences. despite prcgramming shows we feft were as surtrfire certs as pos8ibl8 to book. such a5 Abigail's Paty arTrd T6ech8rs. In addltion to lower than hopedlexpected audiences. a number of shows We pulled by promoterslproducers due lo increased costs and low-licket $ale$. Whib impossible to force act5 to fuffil their booking, ifs scrnewhat galling when they cancel due to low 5ale5 but refuse to dolpay for any marf(eting. Marketing is always the first cut to rnade but should be the last. Som promoters wanted to reschedu to later date but this we have resisted for the mosl part a5 It is a not a precedent tts set. Some promoters decided not to cancel when told we would not rebook. Be5t-5elling shows thi$ year included An Evening of Burfe5que. Torn Allen. GiovJnni Pemi¢e. kfritn8y- Qu88n of Ihe Night, Th8tli 88 The D8y, The n9 Is Ba¢k and Frankn9$ Guys. Fewer com8dians touring at cur18V81 of vènu thi$ year $ees more music events in Ihe list this year. ¢lassir21 musie concerts a5 a programming $trand had very iow-tithet sa8 despite Considerab maFketing activity. It seem5 thal audience is reluctant to retum. Pre-covid. da$sical music ¢on¢ert losses were offs&t by More corrffnercial programming, howevei, post- Covid. this is not a Comfortab decision to make. As a resutt. we have taken the decision to pause on that programming Strand for the time being. afoeit reluctanlty. PantorTTrime this yearwa$ Jad( & the Beanstalk, a trf8 nol seen at the Marina since 2011. Sales were up on 2021 but still down on 2019.. disappointing but mirrored in many other venuesltowns. There wa5 a lot ol rnarketip)g a¢twity. even more than in previous years, but the 531es pattem was very last minute. 8nd the Maeting team had to hold their nerve to a degree not eXPernCed before for panto. It didn't quite hit tho target ald at but not too far off which was reassuring. We Ihink thi$ to be very mLKh a cost-of4i¥ing side effect which cannot be helped. Lowestoft Playets We able to turn to the Marir¢a with their annual arnat•ur panto in January. the first time since January 2020. It was wonderful lo be #ble to host them again and work together to gwe local people the chante to perform in one of the region's bvJgest venues. Again. $ale$ were not quite 8s good as hoped for but not to an alarming degree. Cinema programrning wa5 less diffiGuh this year but there is stin 188s on off8r du8 to delayed rtlèase dates. However. films and scr8enings are a conshlerable part of the Marina's offer. and this year has seen a wide range of welattended $CenIng$. Best Se1 induded.. I W8nna D8nce wth Somebody. H&ms Goes to Pwys. Ticket to P8r8dis6. Fishermen s Friends." One and All. Elvis. To Gun 2. A18¥W7ck and Do%t0 Abb8y. Audienc• B•h•vrour Like all entertainment and theatre venues we have seen an increase in anti-soual behaviour in our audiences Since reopening aft•r Covid lockdowns. Some people arrive at the theatre intoxicated whpeh fed to antSocIal behaviour. Somt peopk are much quicker to anger than we were used to seeing and rnany people feel they are entr.td to behave however they wish, rogardless of rts effect on other people. Needtess to say. thi5 make5 lrfe rnore diffruh for our staff and results in more complaint email$. We a int8$Ing CCTV coverage across the building and 5tsff 3re consKlering the use of bodycams. After discussing the i8sue wfth othervenu8$ this p4)pears to be a wpjespread i55ue across th• industy.
Marina Theatre Trust Company limited by Guarantee Trustees. Annual Report (incorporating the director's report) (continued) Year ended 31 March 2023 Government funding The Marina has not reiVed any govemrnent fvnding this yèar but continues to be gratelul to Lowestoft Town Council as landlord and principal staktrhtslder for their management fee a5 a contribution to costs. Communlty and Outreach Community outreach work 15 fitrnly embedded in Marina Lifa and in Lowestoft itself. We have found restsrting post-covid to be sknyer than we hoped - a 1Clance/d5SCQrnfort with so¢ialising again, pr8S5ure on ¢hildren's time from missed schooling perhaps as w811 as less money io spend as cost-of-living rises. The nurnbers foi classes and groups are growing again and it'$ wonderful to see the effect on participants ol all ages 85 they relax and blossom. Regular groups this year included iwo Youth Theatre groups.. Young Cornpany and 50+ Naxt Stagers. ukule16 Winners and improvers. baby music and a dernentia-friendly music group. In 8ddity'on. funding trotn Garfeld Weston enabled Queen. Unspok8n stoiie5 2, an adult writin9 for the stage project. building on the Unspoken Stories for radio project last year. This year, their plays wert put on the Marina stage in fvont of a live audience. There is a very clear appetite for writlng in Lowe8toft and we hope to be able to build on that. As part of the High Street Hentsge Action Zones in Lo$t0ft, the Marina is working on a project called Flooding Back. commissioning and produeing a play in response to the East Coast flooding events of 1953 and 2013, as well as acknowledging the risk5 01 li¥Ang next to the sea in a futu of climate th8nge. Workshops were planned and delivered in primary and secondary schoo15, commLJnity groups and in cai8 hornes. enabling pacIpanIs to exchange and develop id883. This work was then relayed to a playwright vtho Is creating a play that weave5 together stories ol the pas( present, and future. This is new and exCNg dèveloptnent for the Mama. being the first piece of commissioned and hom¥Jroduced WOTk for the Marina stage. Thi5 year also saw the change In management for the wmmunity outreach depathient frorn part-time consultant5 back to a full-time staff member- a notsble landmark for the depathenl. the theatre, and the Trust It is dear that th8r8 is an appetite and a need for creatlV8 Outlets for the pèoplè of Low8stoft, even more so in this pogt-pandernic wortd. L¢atl•rshlp and Stsffing This year the staff team has really corne together in an incredible way, working hard to support each other. develop their skills and build strong teams through the Trust's operations. It has been a real privilege to watch the SMT grow into thair ioles. Recruitsnent is sts"Il not proving to be easy. but it has definitely been easier in many ways than 2021122. This year will be the last at thè Marina for CEO Emma Butler Srnith who left in May 2023, after five years in p05t and seven years total at the Marina. These years have been $0ffi8thing of a rolr¢oa$ter, but her ielentiess positiwty and hard work have put the the8tre where it is today. We wish her well for the future and thank her for her $eNce. Recruittnent for a new CEO is in procèss and Trustees are detemiined to get the right person in place to continue and build on the work of the Trust thus far. Energy price rises and ¢o$t of living crisis In addibon to audien$ still smaller than prtrpandemic, large incrèases in inflation and resultant cost of liwng rises combined with steep increases In energy pri$ helped ¢ale a'perfect storm, of increased ovèrheads and reduced incorne. Energy costs from September 22 to March 23 have doubled. However, this is better than the foiecasted costs which le projected to be quadruple. Thanks to quite extreme good husbandry mèasures by Trust staff. an investment in LED Stage lighting by LTC Iin time for panto, thanks to the tech team pulling an all-nighter to get thetn s&t up and rigged) and govemment help, the actual incre83es were not as terrible as we h8d feared. Hard to Imagine that a doubling of costs seerns something to celebrate.
Marina Theatre Trust Company limited by Guarantee Trustees. Annual Report (incorporating the directoVs report) Icontinued Year ended 31 March 2023 Towns Fund Capital R8developm•nt Plans Followng nfimla.0n of East Suffolk Council'$ IESC} Tovms Invgstm8nt Fund InFI bKI, an advance draw4own to the Trust of £100k was agreed in order to allow a det8118d feasibility study. Inwtation to tender documents were prepared and an appoinlrnent prO$S ran May-August 22. The contract was won by a syndiute of consultants headed up by Foster Wilson Size who began Work in Septemb9r 22. Consuttations with stskeholders. design desk work and regular design team mèetings rasulted in a RIBA stage 2 report submitted to Trustees in January 23. Thi5 work cornprises". Link the existing bu11ngS, filling in the gap on all levels. Expand Foyer areas, including additiona1 WC facilitt"es. on all levels Instsll a lift to permit inclu51ve access to all floors Unify the frontage and signage to the buildings to IneaSe street-presenc• Reset Sta115 auditorium seating to imprtsvt access and leg room, add wheelchairlaccessible positions The extent of tre buildable area on the theatre's footprint Is severely limited due to the position of an electricty substation to the rear ol the e>isting link buildirvj. This limits the size of the new linking bullding and rules out the creation of a new community outr8ach15mall second perforrnance space and additional office a¢¢ommodation. Thi5 18 a bl¢)W to thè Trust, but the costs and logistics of mowng the subststion make it unachievab18 in this project. Detailed plan5. engineering calculation5 and costings wère also done by the team for increasiro the of the stage. Howèver, changes in the touring industry post-pandemic mean there is very little mid-scalè musical product either touring or in development now or planned in coming years. A5 this was one ol the primary reasons behind plans to increase the size of the stsge, it was decided that spending so rnuch of the TIF grant on 8n el8rnent that may wèll not see a good return in investment was unwise. In parbcular. spending so much on a sin9le element would have significantty reducad the other elementslaspects possible within budget. Lowestoft Town Council have approved the initial designs in principle and the design team is mng onto R18A stage 3 plans and reporting. ESC has also expSsed support for the desion5 in the Stage 2 report and havè askèd for morè details on and reasoning behind changes to the elements of the work. This feasibility study wll conclude in June/July 2023 after which funds will nèed to be drabw down in order to move to RIBA stage 4 and beyond. Flnanclal rnvl•w Prln¢lpal funding sources A detailed breakdown of the various sources of income Can be seen in the notes to the accounts. The primary sourcè of income was box office rIpts. The group also reiVeS fvnds in the way of a management fee towards thè running tost of tho theatre and grants for projects. together with inurn8 frorn the running ofthe cafè and baT Within the theatre. Flnanclal revlew of th• yèar The results for the year arè shown on pages 12 to 25. The year ended 31 March 2023 showed a ¢Jeficrt of £95.12012022'. surplus of £96.312. 2021: surplus of £168,420, 2020.. surplus of £14.254. 2019.. surplus of £68,470).
Marina Theatre Trust Company Ilmited by Guarantee Trustees. Annual Report (incorporating the directors report) {continued} Year ended 31 March 2023 Reserves policy It is general accepted. and recognised by Arts Council England in their Cultural Recovery Fund 2021121 guidelines. that charitable organisalions suth as the Marina Theatre Trust. should look to have Ihree to six monU)s of operational reserve$. Tru51ees agree that this Is the level of re8eThes the Trust is aiming for. For the Marina Theatre Trust thi5 15 £120,000- £240.00D. The Trust's Reserves Poli¢y airns lo ensure that all contractual. le9al, adrninislration and personnel oblvJations can be honoured in the ov¢nt of the Trust andlor Theatre being unable to function. The Policy also ensures Ihat ¢u$ttyners can be fully refunded Should the Theatre not be able to psent events for which lickel$ have been purchased for. Low85toft Town Council acts a$ guatantors of the Trust, the arrangements of vthieh a provided in the governing Management Agreement. Provi$5tsn for building repairs, maintenance and Safety 15 managed as part of the The4t'S rnaintsn8nc and investrnent programft and anning. H&S policy. local risk assessments and 8$e arrangements. The live perfomiance programme 1$ pro¢ured on the basis of low risk against suilabilty and customer demand. Together wth the managernent of the Trust. the Tru$tee5 are actively seeking to in¢rease incorne from all sources of the Trusf$ a¢ts"vrts and to manage costs and eIencES to enable it to increase its reserves to provide a $trongei finanaal position tri ertable it lo genernle further cash flow to invest into the facilities and seNices for public benefit. The Trustees ¢ontinue to develop the reserves policy of the Trust in term5 of the future value of reserves required to be held and this will be conduded in the forthcoming year. At the period end the group had nel asset$ of £188.003 12022.. £283,123). The resiricted funds of the group as at 31 March 2023 wtre £20,79912022. £NILI. A5 at 31 March 2023 the group had free reserves of £181.25612022". £268.6361. Going ¢oncm The Iru$tee$ have a ffutu financial plan in place to drive growth and su8lainability. There are Car and robust budgets and forecasts in place to aid the finan¢ial $traie9y. Mana98rnenl aceounts and budget5 are reviewed at each board meeting with significant income and expenditure htghlighted. The Iruslees a150 have put in place a suitable and Èxperienced managemgnl team wlh additional finance support lo drive the operational and business plan over tr)e next year. The Trusf$ relatl¢n5hip with Lowestoft Town Coun¢il ha5 Gontinued to develop throughout the year and convetsations and agreements a coming to a dose regarding the issuing of a Supplemental Mana9ement AgreeWant to enable lo Trust to manage the theatre for the next Plan8 forthe futur• writs.ng in May 2023 and reading the report for 2021122, it is interesting and gratifying to realise how muth has changed in a positive way over Ihe la51 year. While audiences a not yet back up to pre-pandemic levels, $0 much feels as if the stri¢lures. limitations. and fears of the pandemic period had never happened. Having said that. Cowd-19 is still very much a thi. and mcst staff are now on their second round, only one staff member has still never had it. It is hoped that a new CEO VAII bÈ in plao by early autumn. There will be a short Interregnum period over the Summer which ha$ be&n w811 planned and 5UPPOrt rnechanisms are in plac* as well as due-diligence structures for SMT.. Board reporting. The next year should See significant progress In the Capital redeveloprn8nt works under the TIF scheme. including a planning applicat and progre88 towards tenderlprocurernent process for conlraclors. The Marina and its team continue to look forward lo a brht future at the heart of Low8Stoft. Structur•. gov8rnan¢• and management Govoming document The Marina Theatre Trust is a company limited by guarantee and does not have any share capital. The cempany was incorporated on the 26 October 2011 and is 9overned by its Memorandum and Arti¢le$ of Association. Tha company also gainad registerad ¢hanlable statu8 on 27 September 2012.
Marina Theatre Trust Company limited by Guarantee Trustees. Annual Report (Incorporating the directors report) (continued Year ended 31 March 2023 Recruitment and appolnkn•nt of Trusteès Trustee5 shall be person5 through residence, occupation. employment or otherwise have Special knedge of the area of benefit or who are otheFw15e able by virtue of their personal or professional qualifications to make a contribution to the pursuit of the obJ"ects of the tharity. Under the Memorandum and Artide$ of A$$o¢iation th8 Board shall consist of at18ast thTe8 individuals and up to eleven. The Board $houk1 be ctsmprtssed of up to nine Community Trustees plus kn individuals nominated by the Local Aulharity. Followng the Iransfer of the propety te Lowestoft Town Council there have been no Trustees appointed by East Suffolk Council. Following the year end Lowestoft Town Council made th8 decision to no longer appoint Tw$tee$ to the board therefore al the year end there were no representatives of Ihe Local Authoritv on the board of Tru$tees. The Trustees are required by the Memorandum and Attides of Assouation lo serve for a of four years e%pt for Local Authority Tru5tee$, lthose period ol appointrnent 1$ detemiined by the Local Authority. Trustees a directors of the company for the purp088 of company law. Trust88s who served during the year and remain in post 0$ at the date of this report are shewn on p89e 1. Trust•• tralnlng and Indu¢ll&n On appointment the Trustees are provided 1th.. The Trust'5 Memorandurn and Atticles of Assooation". Details of the Charity Commission guidan¢e- The Essentk81 Trustee-that you need to know. what you need tts do.. The latest statutory acrxjunts, management accounts and finanual budget. In additon. Trustees are encouraged to read Charity Commisson and other newsletters and to attend courses designed to keep them abreast of their duties and responsibilities. Rlsk asso88ment The Trustees have reviewed the major risks to which the Trust is exposed. in parti¢ular those assouated wilh the operabon of the Trust Organi5ational $tw¢tur• The Tru$t has a board of Trustees who meet every iwo rnonth5 and are sponsible for the strategi¢ dire¢tion and operational polic8 of the Trust. The day to day operations of the Trust are rnanaged by the Chief Executive and the senior mana9eftnt. Kéy mangement rnmvn•ration policy The trustees set the Chief Executwe and management teams, salary in li wth indu8ty exp8CtatiorI5 for the theatre's current scale and op•ration. These salaries are le¥d yeaty by the tw$tee8. Related paFties On 26 January 2017 the TN$l incolpomted its wholly ovmed trading compony. Ilarina Theatre Trading Limrted. which carries out the operation of the café and barwthin Ihe theatR. East Suffolk Council provided fundirYJ and faalthes lo the Trust under the provision of The Management Agreement ThÈ Support SeN13 Agreement. The Business Transfer Agoement and Iho Property Lease. AS of 1 April 2017, East Suffolk Counul transferred ownership of the propety. which ctsntinues lo be occupied by the Trust. to Lowestoft Town Council. The Managernent Agreement. The Support Setvice Agreement and The Busine88 Transfer Agreement are currentty under di5CU55ion betsve•n Ea$t Suffolk Council. Lowe$toft TO Council and Marina Theatre Trust. Under the Memorandum and Articles of ASSO*.0n East Sulfolk Counul have the right to appoint 1) Truste8s howevar as the Supplemental Managernenl AgeMent is Still not agreed and signed, these Trustees no longer attend. A5 Lowe510ft Towm Coun1 the bU11n95 and pay the tnanagement fee, we invited two appointees from LOSt0ft Town Council to attend during tri5 lextendedl tran$ilion period. Two Trustees were in attendance during the year however since the #r end Lowestoft Town Council derided they no longer needed representation on the board.
Marina Theatre Trust Company limited by Guarantee Trustees, Annual Report (incorporating tho directors report) {continued Year ended 31 March 2023 Tru8ts08 r8Gpon$lbillti•$ statemont The Trustees Iwho ao a150 directors of Marina Theatre Trust for the purpos¢$ of company lawl are responsible for preparing the Tru$tees' Annual Report and the financial staiement5 in accordance Trmth applicable law and United Kingdom Accounting Stsfidards Iunited Kingd¢m Generalty ACpIed Account Practicl. Company law require3 the Twstess to prepare financial statements lor each finanual year. Under company law the tru5te8s rnust not approve the finanoal Statements unless they are Sab"sifd that they give a true and fair vw of the stste of affair5 of the charitable company and the group and Of the incorning resourcs and application of resources, induding income and expenditure. of the charitable company and group for that period. In preparing these financial staternents. the trustees are QuIred to". select suitable accountin9 poliues and then appty them con$islenlly', obseNe the method5 and prinuples in the appli¢ablo Charifr'es SORP 2019 IFRS1021,' make judgment$ and accounting eslimaies that a 8$Onable and prudent.. $lale whether applicable UK a¢o)unting Standards have been fellow¥d. Subiect to any mateftal departures disdosed and explained in the financial Statements. prepar8 the finan¢ial slaternents on the geing concem basis unless it is inappropriate to presume Ihat Ihe group wll continue in opeiation. The trustee5 are responsible for keeping adequale accounling records that di$Glose with rea80nab a¢¢uracy at any time the financial position of the group and enable them to ensurÈ that the finanaal statements ¢omply with the Companies Act 2006. They a a150 re5ponsibk for safeguarding the a55ets of the group and hen for tsknng reasonable step$ ftsr the prevention and detection of fraud antl other irregularities. Aydittr Each of the persons who 1$ a trustee at the dale of approval of this report confinns that.. in 50 far as they are aware. there is no relevant audit Infom)aln of whith the group'8 auditor 1$ unaware.. and they have tsken all steps that they ought to have taken as a trustee to make themselves aware of any r818vanl audit information and to estsb115h that the group's auditor is aware of that information. The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 21)06. Small company provislc+ll8 This port has be8n prepared taking advanta9e of thè small companies. exemption of section 415A of the Companies Act 2006. Th• trustees, annual s approved on swned on beha of the board of trustees by.. Mr D Blyth Ichairl Tru$lee
Marina Theatre Trust Company limited by Guarantee Independent Auditorfs Report to the Members and Trustees of Marlna Theatrè Trust Year ènded 31 March 2023 Opiniowr We have 8udited the financial 5taternents of The Marina Theatre Tru51 Ilhe'parenl charitable cornpanll and it$ $vb$Kfiary Ilhe'group'l for the year ended 31 March 2023 which cornprise Ccn$olidated Statelnent ef Financial Activits (includin9 income and expenditu accounti, Consolidated Balano Sheet. Consolidated Statement of Cash Flow, parent ¢haritable ¢ompany's Slalement of Cash Flows and notes lo the finanrial $tatement$. induding a summary gf signifi¢ant a¢¢ounting poliries. The fin8ncial reporting framewoTk that has been aPP.ed in their pparatiOn is applieable law and Unrted Kingdom AC¢tsnting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland Iunited Kingdem Generally Accepted Accounting Practice). In our opinion tho financial ststomonts- give a true and fair view of the state of th8 9roup's and parent Charitab companys affairs as at 31 MarGh 2023. and of th? group s incoming resources and application of re50urce5. including 115 Incorne and expenditure, for the year then endetl.. have been property prep8red in accordanee with ijnited Kingdom Generalty Accepted Accounting Pradice.. and have been prepared in accordance wlh the requirements of the Companie5 Act 2006 and the Chanbes A¢t 2011. Basra for opinion We o)ndutted our audit in accA)rdan¢e wth Intemational Standard$ on Auditing IUKI IISAS IUKII and applicable law. Our responsibilit85 undef those stsndards are further described in the Audiler's re8ponsibililies for the audit of the financial Statements Section of our report. We are independent of the group and parent charitable company in accordance wth the ethical requirernents that a leVaTht lo our audrt of the finanual statements in the UK, induding the FRC'S Ethical Standard, and we have fvlfilled our other ethical SponSibl1111es in accordance wth these quireMentS. We beIve that tt)e audit evidence we have obtained 1$ $uffirient and appropriate to provide a ba$ps for our opinion. on¢lu$ion$ T•latlng to golng ¢on¢•m In auditing the finanual statements, have concluded that Ihe trustees, use of the going concern basi5 of accounting in the preparation of the finanual statements is appropriafe. Based on Ihe work we have performed, we have not identifi'ed any material uncertainties relan9 to events or condition8 that, iTrJNidualty or Co1CtIVe1y, may cast signrficant doubt on the group and parent charitable'companvs ability to centinue a5 a going concern for a period of al least iwelve rnonth5 from when the financial 51aternenls are authorised for issue. Our responsibilitP5 and the responsibilities of the tru51ee5 With resppct to going conom are described in the televant se¢tion$ ol thi$ rEport. Other lttl•mi•llon The trustees are responsib for the other infolmation. The other infonnation cornprises Ihe infoThation Indu¢Jed in the tru$lees' annual port. other Ihan the finanual statements and our audrtor's report thetsn. Our opinion on tt)e financial $talem8nls does not cover the other Infomiali¢n and. except to the extent otheNi$e expl1¢Y stated in our repor( we do not express any fo of assurance condusion thereon. Our responsibility is to read the other infomiation and, in doing so, consklerwhether Ihe other infomiation is materially inconsistent with the finanal stalements or our knowledge cbtained in the course of Ihe audit or othefW50 appears lo bo materially misslated. 11 we identfy such material in¢on$i$ten¢ies or app8nt material misstatements. are required to detemine whether this gives rise to a material mi88lalement in the financial statements themselves. If, based on the work have performed, we condyde that th8T8 is a material misstatement of this other infonnat40n, we are required lo report that fad. We have nothing to report in this regard. Opinions on othor matters prgscrlbod by th8 Compani05 Act 2006 In our opinion. based on the wort undertaken in the course of the audit.. the information given in the trustees, report lincorporaling the dits¢tors' r•portl far the finantsal year for which the finan¢ial statement$ a prepared is ¢on$istent Mlh the financial slalem&nts'. and the director5. report has been ppad In a¢cordano wth applicab kgal requirements.
Marina Theatre Trust Company limited by Guarantee Independent Auditovs Report to the members of Marina Theatre Trust l¢ontinued) Year ended 31 March 2023 Matters on whlch wè are required to rnport by 8x¢eption In the Ighl of our knoledge and underslandiThJ of It group and parent charrtatle company 8rKJ ils enwronment obtained in course of the audit, have nol identthed material mi5slatemen15 in Ihe directors. report. We have nothiny lo reptyt in reskEct of IfÈ folo.syww matter5 in relation lo ¥thi¢h the Companies Act and Chari Act 2011 requlre U5 to report lo you if, In our opinion. adequate and $ufficient attounling records have not been kept by the parent tharilable company, or relutns adequate for our audil have nol been received frn branches not ¥risiled by us". or the parent charitable company's financial slalernenls are ry)I In agreement wth the accounting record$ and relurn5,' or certain dlsclosures of directors. remuneration speclfied by la%v are not made., or e have rt eeNed all the Infomalion and explanations require for our audit. the Iruslees were nth entrfed to prepare the financial siatsmenls in a¢¢ordance with the small cornpani88' reglme and tske advantage of th2 small companies. exemption$ in prepariTrJ If dlreclors. report and fFom the requirement lo prepa a str81eg rep(vt. Rg¥ponslblllt18s of th8 trust As explaifEd fflore fulty in the Iruslees. responsibilitie5 slalemenl Isei on page 81. Iruslees l%¥0 are also the directors Of the PaTent ¢hElae company for Ihe purposes of company law) are responsible for the preparation of fina41 slalements for being satisfied thai they give a and fair wew. and for such internal ¢ornrol as the Iruslee5 deleimine Is nece$s8ry lo enable the preparation of financ4al statement5 that are free from material mi$si8lemenl. %4elher due lo fraud OT eiror. In preparirKJ the financial slalefflents. Ihe Iruslees are re5ponsiNe for assessirKJ the group and pgrenl ¢h8ri18ble company's abillty lo corinue as a going concem, disdosing. as applicable. matters felaied to going concem and usin9 Ihe going concern basis of accounting unlests Ihe Iru51ees either inleno lo liquidate the groLV or the parent charitae company or lo cease operations. or have no realislic aiiernaiive lo do so. AudltoVs re$pon51bllh1fr5 for tho audlt of tho financial stst•monts We have been appointed as audilor under Companies Aci and section 151 of Ihe Charities Act 2011 report in accordance th those Acls. objectives are lo obtain reaSonae assLYance about the financial slalemenls as a are free from materi81 misslalemenl. thether due 10 fraud or etror. and lo issue an audiiorfs report knal Includes our opinion. Reasonable assurance a high level of assuran, but Is nol a guarantee Ihai an audit conducted in 8¢cordanr lIh ISAS IUKI wll ahvays delecl a material mi5slalemenl vthen it e$1$. MisstaterTienls can arise from fraud or error and are considered maierial if. indiwdualty or in the a9gregale. they could reasonably be expected to infiuence eGonomi¢ decisions of users taken on the bas of tr8e financial 51alements. Irregularities, Ind119 fraud. are Instances of non-compliance wlh lavts arvj regulations. We deSn prorEdure5 in lir ¥wth our responsibilllies. oullined above, lo dele¢l matenal mi88taierTTrents in respect of irre9ulanties. ind1ng fraud. The extenl to %thich our ocedures are capabk of dele¢ling irregularities. ind1ng fraud is detailed lL. Enquiry of mana9ement those charged wlh governance lo confirm there are no instances of fraud or non-¢omplian¢t 1th la5 and rÈyulaiion5. A small fraud ln Ihe M8rina Theatre Trading Limited was reported by Ih05e chaiged rnanagernent and governance. As a resubl intetnal controls wEie adapied io reduce ihe risk of il OCCL¥iTrJ again. Rewew of disclosures yrilhin the financi slalemenis and VthKhiw these to supportlng docunEnlalion to ensure compliance with applicable laws anLI regulaiions. Reeor key accounting estimates. lo ensLre reasonab atKI no signs ofmanagemeni bia$. Performing audil work ovei the risk ol rnanagernent ovelrkle of ¢ontrol$, induding lesling of ioumal entries a1 oltr adjustmpnls for appropriateness. evaluating the rationale of $i9rMficant Iransadion$ OLAside the nortnal course of a¢liviiie5 and revwlng accounts estimates tor bias. Because of the inherent Iimit¥lions of an audft. thete 1$ 8 risk Ihal %%E 11 not detect all itregularities. includiNJ those ading to a material mis51aiemenl in the financial slalernenls or nOn-comlanCe Vbilh regulation. Th15 nsk Increases the more that compliance vAlh a 13w or ulalion is removed from the everns and tr8nsaclions relle¢led in the finanE4al slaletnen15. as wll be lèss likely to becom8 avlare of In$lances of nOrp¢omlaCe. The risk also gre816r re9ardin9 itregulanlie5 occumn9 due to fraud rather than etsor. as fraud involves itheniional ConalMen1. forgery, cotlusion, omission or rni5represenlalion. A further deSptIOn of our responsibil18 is availab on the Financial Repthng Council's KEb$ile al.. NIp8..1fvA.1rc.9rg.LoUr- VWorklAudiUAudil-and-8ssurancelStandaids-and-guidanceisiaNJardS-and-guidance-for audiiorslAudiloTs-responsi"llIIes-f0r- audiuoescnpb¢)of.audlt0rS-re$pOnsibiles-1O[-audrt.px. This description f¢rm5 Part of our auditor's report 10
Marlna Theatre Trust Company limited by Guarantee Independent Auditors Report to the members of Marina Theatre Trust Icontlnuedl Year ended 31 March 2023 Use ofour rnport This report 18 nTrade $dely to Ihe ¢ompan¥s members. as 8 body, kn accordance with Chapter 3 of Part 16 of the Companies Act 2006 and lo the charitable coMpanS Iruslees. as a body. in accordance with Pari 4 of the Charities IAceourts and Reports) Regulations 2008. Our audit work has betrn undertaken so Ihal we might Stale lo the chanlable company's mernbers and ils Iruslee5 Ihose matters we are required to 51ale to them in an auditorfs report and for no other purpose. To the fullest txtsni pemiStted by18w, we do not accept or assume responsibS1ity to anyone other than Ihe ¢harilatr>le company and Ihe ¢h8rilab CoMpanS members as a body and Ihe thaiitable 4*mpanys trustees a$ a body. for Ouf audilwoth. for this report. or forthe oplnSons we hav8 formed. Mark Proctor FCA DChA (Senior StsluloryAuditor) For and on behalf ol Lovewell Blake LLP Chartered A¢counl8Trts & slaluloryaudilor Bank8Sde 300 Peachman Way Broadland 8u5iness Park Norwich NR7 OLB 1911212023 Lowewell 814ke LLP is eliglble to act as 8n 8udilor in terms of se¢bon 1212 of the Cpmpanie$ Act 2M6.
Marina Theatre Trust Company limited by Guarantee Consolidated statement of financial activities (including income and expendlture account) Year ended 31 March 2023 Not08 Gon•ral Fund$ Regtrlctod Fumd 202) Tothi 2022 Totsl Incomo and •Ddowmonts Donations 8Th1 ga¢S 9.394 1,303,421 178.659 136,682 146.07e 1.303.421 178.659 332,146 849,143 106,968 Other trading actiw18 Total Incomp 1.491.474 136.682 1.628,156 1.288.257 exp8ndtture Raising funds CharrtaNe aclmiies 1154.1251 11.453.268) 1154.1251 1115,8831 11,569.1511 1101,0831 11.090,8621 Total •Apend4turo 1.607.3931 115.8831 11.723.276) Ntrt Incomg botoro tsan81• 20.799 195,1201 96,312 Transfers bewthn fwKIs Met Im• and net movtmènt In tunds 20,799 195.1201 .312 Roconclliatlon of funds Total funds brought fDtwar 283,123 283,123 186.811 Total funds carried loArd 167,204 20.799 188.003 283.123 The slaieineni of finanTh acuwlies includÈs all gaIr and losses recogni5ed in t year. come 8ThY 84)endilwe derive from ¢oniinuirvJ acbMlies. The notes sel pages 16- 25 form an intsgral part of the accounts 12
Marina Theatre Trust Company limited by Guarantee Consolidated Balance Shegt Year ended 31 March 2023 2023 char 2023 Grgup 2022 Charlty 2022 Group FIX A&6éts TarVJlb flxed assets In¥eslment5 13 14 2.923 5.948 11.027 14.487 2.924 11.028 14.487 CyTrantA5sets Stock Debtors Cash al bank and in h4nd 15 16 3,869 12,794 693,470 3.398 53.074 821.454 62.549 644.719 138.086 537.498 707.268 710,133 675.584 677.926 Cr•dhors'. rrtOUnts falllng du• wlth5n ono year 17 1522.1891 1528.0781 1403.4891 1409.2gOI Mot curront auots 185,079 182.055 272.095 288.836 N•t ass•is 185.003 188.003 283.123 283.123 Funds ofthe char5ty Unrestricted fvThJs Restricted funds 20 20 167,204 20,799 187,204 20.799 283.123 283.123 Total chavlty fund8 188,003 188.003 283.123 283.123 During year. charlty made a deffcrt of£95.120 Induding gift aha from subsidiary ofE16.88212022.' suwus of £81.4781. These finantial statements ha been prep¥ed In accLYdance wlh IKe pmisions appl¢ab lo rnpan $ubiect io Sm¢ companies reglme. These fi8nt181 ststements wre aKproved tythe board ottrustee$ aThJ gulh0ri5ed for issue ori12 September 23 and are sSgned on behalf of ltte board by.. MrD8Mh Chalr r N J CulliThJfo Twslee Comparty regislrats.on number.. 07824326 The note$ 8el OLrt on pages 16- 25 forn 8n integral part of fv accounts 13
Marina Theatre Trust Company limited by Guarantee Consolidated statement of cash flows Year ended 31 March 2023 2023 2022 ¢a8h flows from operating actlvltfj88 Nel lexpendllure)lincome lor year 195,1201 96.312 Adj'ustfflpnts lor.. Depreciation of tarvJible fixed assets 15,582 Ch8ng6$ in." Slock Trade ènd olher debtors Trade and Olr cre(*to 14711 40.280 178.788 11.5731 32.169 84,305 Net cash provided ty operating actimlies 75.048 226,795 Cash fflows from Invo4tlng a¢tlvltl•s Purchase of tangible a55ets Nei cash Iused inl invesiiNJ athl11&$ 13,0321 11.9501 3,032 50 Net Increas9 In cash and cash 0qu11¥ts Cash and ta5h ¢qulvalgnts at beglnnlng of yè•r 72.016 621.454 224.845 396,609 cash and Cash equivalpnts at end ol year 693.470 621.454 The not sel out page$ 16- 25 form an inlegral part ofthe accounts 14
Marina Theatre Trust Company limited by Guarantse Statement of cash flows Ygar onded 31 March 2023 2023 2022 Cash flows from opfrr4tlny actlt$ Net leerKI11relcQrne forthe year 195.1201 81.479 Adjustnyents for.. Dewecialion of tanyible fixed as8e15 9,131 13.716 Changes in.. Trade other debtors Trade other creditors 75,S37 118,700 128.497) 81.820 Nel Ga5h proM¢Jed by opeTalirvJ adivitlets 106,248 148.518 C•sh flows froffl 1mltIng attfvltk$ Purtha$e of lanb assets Nel c85h Iu5edl in investing ale$ 11,02n 1,027 Not Incrnaso In ¢wJh and u¥h gqulvalwnts Cash and cash oqulvalemts at boglnnlng of yoar 107.221 537,498 148.518 388.980 Ca*h and $b èqulvahnts ai •nd of year 644,719 537.498 The notes set out on pages 16- 25 form an integral part of the accounls 15
Marina Theatre Trust Company limited by Guarantee Notes to the financial statements Year Qnded 31 March 2023 1 Ganoral informauon The charity is a priwdle company limlled by guarantee. regi$18red In Enyland ano VVak8 8NJ a registered charty in Enand and Walès. The address oflhe regi5tere(l oifice is The Marina Theatre. Marina Road, LtrÈth)ft. NR32 1HH. Sutfoik. The naiure of IhÈ tharity'5 oper81ion$ and princpal actiwilies are outlined wltyn the Iruslee8 report. 2 Statement of ¢omp16an¢è These finanaal Slalements have ten prepared in GOMpanCe with FRS 102. 'The Financial RepDrting Standard applicèble in Ihe UK ar Republic ol Irel&nd', Statetnenl of Recommended Practice appli¢aNe lo charities preparing their accounts In a¢cordancè wlh the Financial Reportire Standard applicatAe iri the UK and Republic of Ireland IFRS 1021 {CharilS SORP IFRS 1021115sued in October 2019 and CompleS Act 20(k5 aTra the Chariiies Ad 2011. Tr chaty con5blule5 a benefft entity as defined by FRS 102. 3 Accountlng pollciès lal B8618 of accounUng The financial statements have been prepared under historral cost ConvenOn. The presentation currency of the charity 15 slerlrs. Ibl Golng concgrn The financial slalemenls have been ryepared on a going ¢oncem basis as the INstee$ belie¥e that r material uncertaint9 exisi. The Irusiees have considered the level of funds held arKI Ihe expected level of income and expenditure for 12 month$ frotn aLrthtsrising these financial slatemenls. The budgeted Income and expen¢tUre 15 SUtricnt 1th the level of reserves for the charity to be able to continuè as a goin9 concern. Thp Tru5fs relalionship LOEst0ft Councll has Contin lo develop Ihrough(yJt t year and conversations and ¥greemenis are corning lo a dose r8gardirwJ the SuIng of a management agreerynl lo enat lo Ttust lo manage the Ihealre for Ihe rwt 25 years. Icl Fvnd?c¢ouThllng Unrestricted fvnds are awd4able for use ai Ihe discretson of Ihe trustees to fijrtherany of IfE group's purposes. RtrIcted funds are Subjected to restrictions on their expenditure declared by the donor or Ihrwh the lerrns of an appeal. Idl In¢orne AJI IrKome is Ie0 in the Slalement of Finanal A¢liwlies wen the charity 15 en1it48d 10 the income and the amount can be quanlified vilh reasonable accuracy. The fdknVn9 spedfit wliues are applied lo parbcular categones of income." . Ticka sales inttome 15 recognised ai the dale of Ihe revant rfo[ManCe. Income from any show that slradd16s wo accounlirrfj periods is Srt in accordanth IhÈ actual 531e$ per perfoman. Donations and leyacies are re1Ve by way ol grants. donatlons and gift8 and 1$ inGlu(led In full in the Statement of Financial Adivflies Trthen receivable. Grants. ¥ther8 eniitiemenl is not conditional on the delivery of a specrfK performance by the chaTity. are rewnised then IfÈ tharity become5 uncondilionalty entid to Ihe grant. . Income from charitèble trading aclivity are ac¢trJnied for WITr earned. . Income from grants. %¥ere rel8tgJ to perforn)an and speafic deliver8L*s. are accoLmled fv as the charity eams right lo consideration by Ils performance. 16
Marina Theatre Trust Company limited by Guarantee Notgs to the financial statements (continugdl Year ended 31 March 2023 3 A¢utIng pollcle¥ Coned {•) Exp8ndMure Expen(Jiture 15 recogni5ed on accFual basls as a Ilatyillty is IUrred. Expenditurt indudes any VAT vthich carnot be recovered under p8rtlal exemption. and is reported as part of Ihe expendlture to vhSch11 relates.. . Costs of raSslng ftTh1s comprSs? the costs associated wih allraclin9 vdunw Income and the costs of IradThd for fvThJr81sthg ptsrposes. . CharilaNe activities comprise those ¢05ts inGUtred by the charfty Sn If delwery of its actiwlies and serth(s for ils beneficiaries. The c05t of perforrnances is rÈtognised al the dale of If pertormance. Charitable acliwty costs Include5 both Costs that can be albrated dI¢ttyto sut actiwlies and those costs of an indire# nature necessaryto suppori Ihern. . Govemance costs Indude those costs associated ryth rneetiry the tonslllu0nal and Statutory reuurement$ ol Ihe group and Include IfE audit fee$ and costs linked to strategic m8n8gement orthe grp. . 1 ¢o$ts aTe allocated beMEen the expenditure categthes of the Stalemenl of FSnanty)l Aclimlies on a basi8 desigrv8d to r8ftect Ihe use of Ihe Source. Cosis relating to a partIL9r aC1ty are allocaleil dlredty, olhÈrs are appwloned on an appropriate ba51S e.g. floor areas, per capita or Èstlmaled usage as Set OLrt in note5 to the accounts. TangIb as60ts Targible assels are inib4ty rewrded ai cost Igl DepTOclatlon Depretyalion is calculated $0 a$ to write off Ihe cost or vahjats.on of On a95el. less it5 residual val. overthe usefvl economiG Ilfe of asset as folows". Fixtres, fittings and equrrdnt- 25% ¥lra¢ght fire Ihl Investments Unlisted equty Investments are inilialty recorded at cost, aThY subseqLEnty W85red al fair value. If fair value Canrnt be rdl8bly measured. assets are measured at cost les$ Impalmpnt. 111 Stock Slock$ are measured al the lower of c05t arKI estimated selling price less costs to COMete and sdl. Co81 indje8 1 costs or pur¢ha5e. costs of conversion and other cosls incurred in bringing the 5toGk lo its present bcalon and coTrJilion. Ul Oppratlng IAa¥• agrepmènts Rentals applicable lo operalirKJ leases vthere sub51antially all of the benefiis and of o%Trsh1p remain Milh the lessor are charged against pyofils on a 5tr3ight line ba$is over the period of leas?. Ikl Pet)slon The Group operate5 a defined conirfbution scheme for employee5. assets of thich are held separalety from those of the Group in an independenlly admlrfslered fuThJ. The pension sts in fv accounts r8fie¢t contributlon5 made in Ihe year. 111 Flnan¢lal Instrumonts A financial asset or 8 financial IlabS1ty is recogniged enlty becorrvas a paty to thB conlraGlual pr$10n$ of Ihe inslrLment. Basic financial instruments a Initially recognised at Ihe pmounl receivab or payable includSng any relaled transactOn c05t5. Lnless atrangement con8tltutes a finanring transathion. vthere it 1$ reccgnised al Ihe present value of the fuiure payments Inted al a market rale of interest for a slmllar debt instrument. Cwrenl a$5ets and fwenl liabilities are subsequenlly measLYed al the cash or other ¢oridèration &xpected to be paid or receNed d not di$eounled. 17
Marina Theatre Trust Company limited by Guarantee Notes to the financial statements Year ended 31 March 2023 4 Llrnltsd by guaFatttO0 The Trust is a ¢(panY limlbj by guarantee. Each memb&r of the Trust undertake8 lo contribute such an amoum IMI exceeding £11 as may be reqLired in Ihp ent of wnding up. Unrestricted Funds Restricted lund5 Total Funds Unreslricled Reslrided 2023 Furds Funds Total Funds 2022 5 Donatlons and l¢9ocloS As Council- CRF Donation5 Ea$1 Suftolk Counc4- Feasibilty Lowtslofi Town Council- Feasibility Easi Suffokk Counc. Flothjing Back Grants 290,961 290.961 8.386 9,394 9,394 8.385 90,000 8,130 27,000 11.552 8.130 27,OLY) 11.562 24.000 8.800 32,800 9.394 136.682 146.076 32,385 299.761 332.146 Durirvj Ihe year ted 31 M8rch 2023 E138,68212022.. £26.8001 of goverfiment was re¢ved. Unre5triGle¢J FurwJ$ Restrithed Total Fundts Unrestricted Funds 2023 FuThJs Reslricled F)d$ Fund5 2022 6 Chafftable activltie Lowesloft Tow) Counc Box office income Film box office incLxne Ticket levy and postage charges Orchestra live subsidy Slage and room hire income 151s rechar9es Coinmunty and educaM Other irFcomÈ Iso.000 873.263 29.17B 83,636 6,780 7,992 120,214 18,184 14,204 150.ODO 873,263 29,178 83,636 8,750 7,992 120,214 18.184 14.204 150,000 515.108 22.699 48.967 7.608 7.374 65.763 6.019 4.905 150,000 515.108 22,699 48.7 7.608 7,374 65,763 26.719 4.905 20.70D 1.303.421 1.303.421 828.43 20.700 849.143 DurfrKJ It year ered 31 March 2023 £150,000 12022.. £150.0001 of govemrneTrl fundro was feceiyed or due in accordance the management agreement Unrestricted Fund$ Restricted Totsl Funds Unre51ricled Funds 2023 Funds Resiricled Fwws TO1 2022 7 Othgr tradln9 aciivltlès Piograrntnes and merchaThJise Income Food and beverage itKome 5,649 173.110 5,549 173,110 1.904 305.064 1,904 105.(64 178.659 178,659 106.968 106,968 18
Marina Theatre Trust Company limited by Guarantee Notes to the financial statsments l¢ontinuedl Year ended 31 March 2023 8 Costa of othertradln9 a¢tfv6tl06 Unre5trided Funds Restrfcled Total Funds Unre51rictetl Funds 2023 Funds Re$kncted FuThYs Total Funds 2022 Food and beveraye costs Food and bewrage wages and salar5 Programrne and merchandise costs 64.181 88,185 1.759 64.181 88.185 1.759 e.345 59,827 40,791 59,827 465 154.125 154.125 34.911 66.172 101.083 9 Expandlturo on eharftabl& actlvrtles Unreslricied Funds Resirided Fund5 T4)tal Funds Unrestricted 2023 Funds Restricted Funds Total FuThJs 2022 Co$ls ofthealie production Filrn costs Wages and 58lane$ Markelirvj and advertlsing DekYec4alSon Suppwt costs Governanct costs 7(.589 20.033 374,095 62.302 7.$89 20.033 374.095 62.302 11.571 374,791 19,770 380.800 12.578 165.825 52.948 15.582 164.384 21.456 380.990 12.578 279.582 81.785 15.582 298.909 21.456 113.737 28.837 258,908 19,770 115.883 134,525 1.453.268 115.883 1.569.151 813 573 277.289 AnJty¥ls of support ¢osts Unre5triGte Funds Restritted Fwd5 Tot•1 Fynth Unre51ricted Re$thcted 2023 FurKIs Funds Total Funds 2022 Other Sl8ffing wsts Premises and fflainlenance costs Project costs Adminislralion tost$ Legal and professional fee$ 8.752 114.934 34.488 100.736 8.752 126.486 138,817 100.736 9.812 117.692 9.812 149.492 27.738 107.071 4.795 11.552 104.331 31.8LXJ 27.738 74.987 32.084 4.795 258,908 115,883 374.791 164.383 134.525 298.908 atysl& of Y0m8ce 2023 2022 Auditors remuneration- audit seNce$ AdItorS remuneralSon- ron audit Se9 1Q,545 9,225 ' 12.796 19.770 21.456 10 Not In¢om8 Net inGorne 15 started after ¢nglediIlaI 2023 2022 DeprerAation of larvJible fixed assets 0per8lirvJ 8$e eosls 11.571 15.582 22.500 19
Marina Theatre Trust Company limited by guarantee Notes to the financial slatements Icontfinued) Year ended 31 March 2023 11 Stalf costs The lolal Stsff costs and.eMOYee benefits forthe reporbrKJ are anatysed as follows". 2023 2022 we$ aThJ salaries Social secuiity costs Employer contributions to per1 plans 428.292 27,148 6,840 462.280 318.920 15.633 4.837 339.390 0hOul the p8ri0d the TtU51 employed the folln9 nurnber of ernOYees on either a time or part time basis. 2023 2022 Theatre staff linduding frant and back ol house) Managernenl and adminSstration siaff Food and beveragt 12 No employee TelY8d *mayee benefits of more than £60.000 during the year (2022.. Th) eMoYee1. Kgy Managwnont Por60nnèl Key Managernent pers1 indude the Chief Execulive together with the Techrical Manager, Theaire Operalions Manager and CaleTrng and Hospitalty Manager. total value of remUratIOn and recei¥ed by Key Management Persomel was £181.908 (2022.. £130.2891. 12 Trustse rgmuneratlot) and •xpens05 No Tru51ee5 re¢eNed remuneration orexpenses dLwif¥ Ihe year12022." £Nl. 13 Tanglblo Flxod A88ats- Group Flxture5, littings and gqulpmotit Totsl ¢08t AS ai 1 AWA 2022 A(klilions 166,683 3.032 166.683 3.032 A8 ai 31 Marth 2023 169,715 189.715 Depreclatlon As al 1 Apnl 2022 Charge for the perbd 152,198 11,571 152.196 11.571 As ai 31 Marth 2023 163.767 163.767 Not book valu• A$ at 31 March 2023 5.948 5,948 Ats at 31 Mwth 2022 14.487 14,487 20
Marina Theatre Trust Company limited by Guarantee Notes to the financial statements (continued) Year ended 31 March 2023 13 Tanglbb Flx•d Ass•ts- ¢h•TIty Flxturw, fftting$ •nd 9qulpm•nt Total ost A5 31 l Aprd 2022 Additions 158.247 1.027 158,247 1.027 As al 31 Marc 2023 159,274 159,274 D•ptIon A5 al l 2022 Charge forthe pediyj 147.220 9.131 147.220 9.131 As a131 March 2023 156,351 156.351 t book valu• As al 31 March 2023 2.923 2.923 As al 31 March 2022 11,027 11,027 14 InvastrMnts- Sharo8 In group undthaklngB 2023 Chaffti 2023 Group Cost As at 1 Aw"12022 and 31 Mh 2023 Impalm)8nt As at 1 Awl 2022 and 31 March 2023 Nèt book valu• As at 31 March 2023 As at 31 Pl?rch 2022 JI inve51menl$ Sho above are held al valuath)n. The Charity hdd5 1 sharÈ of £1 In ils owfftd subsidiary tompany Marina Theatre Tradln9 Ltd leompany nLNnb?T 105845661 S1 is incorporated In the Unlled Klngdom. The company operates the café and barwlhin the Marina Theatre_ Tr profits ol the company are donal1 to the Marina There Trust by GftAid. The sumrnary finanal perfoTmance of the subsKliary alone is." 2023 2022 Turnover ExFenditure 173,121 1156,2391 102.131 142.5261 18,882 S9.605 Amounl donaled to Marina Tlalre Trust by GrftAd 16.8B2 44.772 Net assets 21
Marina Theatre Trust Company limited by Guarantee Notss to the finaneial statements Year ended 31 March 2023 IS Stock 2023 Charlty 2023 Group 2022 Charity 2022 Group Raw maierials and con5w1abs 3,869 3.398 Stock 1$ held for resale in the Trust's calé. baf and klosk. 2023 ¢harlty 2023 Group 2022 Chanty 2022 Group 16 Debtors Trade debtor5 PrepaymÈnls and acwe(l iricome Olherdebltrs Amoun15 Owtd ty gioup undertakinys 2.543 8.886 1.365 49,755 62,549 2.543 8.886 1.365 3.8Q7 42.600 12.842 78.837 138.086 3.807 42.600 6.667 12.794 53.074 2023 Charmy 2023 Group 2022 Charity 2022 Group 17 Credliord.. Arnounts falllng w6th1n ono •r Trade credil01S A¢cruals and deferyed Srthme Other creditor5 40,093 368.793 113,303 522.189 40.666 374.109 113.303 528.078 36,647 251.084 113,758 403.489 41,132 254,400 113.758 409,290 2023 harfty 2023 Group 2022 Ch8rity 2022 Group DeferTed income tfwghl forward Released during Ihe year Deferred duriw Ihe year Deferred inc(xne Garrieo forward 232.336 1232.3381 352.109 352.109 232,336 1232,3361 352,109 352,109 201,229 1201.2291 232.336 232.336 201.229 1201.2291 232.336 232.336 Deferred Income lepresrtS fund5 received from Ihe sa of tickeis in advance of fthure rÉrfomances or films and detsrred grant inconE. 18 Penslon and other post r•tlrÈmBnt bgnfrfits The amount recognised in the slatement of financial actiilies in relation to then defir*d conlritxjbon plan is £8,84012022." £4,837). 22
Marina Theatre Trust Company limited by Guarantee Notes to the financlal statements {contlnuedl Y¢ar ended 31 March 2023 19 knthtysls of tharftable fund5 UnM8trl¢tsd fvnd• Y••rendèd 31 IAarch 2023 At 1 April 2022 Income Expondhur9 Transf*rn At 31 Mxrch 2023 Gen1 ld$ 283,123 1,491,474 11.607,3931 1B7.204 Restricted funds Property repalrs Feasitslity projecl Flooding Back 11.552 98.130 27.000 136.682 1.628.156 111.5521 1102.2101 14.Q80) 24.879 20.799 188.003 1115.8831 1,723.276 283,123 Y•ar•nd•d 31 Marth 2022 Atlrf 2021 Incomo Expendlturv Transfe At 31 M4r¢h 2022 tserra1 knd5 163,811 967.796 1848,4841 283.123 Restricted fund$ Propety repalrs Community wuk Arts Council_ CRF2 Arfs CounGil- CRF3 23.000 8.800 20.700 148.961 142.000 320.461 1.288.257 (31.6001 120.7001 1148.9611 1142.0001 1343.4611 11.191.9451 23.000 188.811 283.123 Ploperty iepalrs.. represents fundSng recelved Irom regardirvJ electrical and pln9 wtyk512022,. fire alami kS). Commthty r". represents lundiny ceNe{l towards c(mmunty outreach1 Arts Cothcil. CRF 1. 2. 3.. represents ftjnding recevSed to support the cost of reopenlThJ the Ihealre. Feasrf)lity proiecl.. represents furKliny recevied 10 5UPPDrt Ihe co$t5 telating to fea$ibllity Studles of Ihe Fund Capttal Redeveloprnenl Plans. The defi1 in the fund al Ihe yeal eThJ vill be Cove by fiJnding due to be received in Ihe year ended 31 March 2024. Floodin9 8ack.' represents fundlng CEied to SLWPOrt the c05t5 of commissioning arKI produurvJ a aY In respwse lo Ihe East oasl flooding events of 1953 and 2013. Trnt)8fers bettv8on fvnds Tra41erS fuThls represents elements of reslrfcted lundSry rdated to cora costs. 23
Marina Theatre Trust Company limited by Guarantee Notes to the financial ststements (continued) Year ended 31 March 2023 20 Anaty81s offièt assets bgfyv•gn funds A8 at 31 Ma 2023 Llnrgstrfct*d ReStCl Total Fufid$ funds funds 2023 Flxed assets Currenl assets Credrtors less than 1 year 5.948 710,133 1528,0761 689,334 1528,0781 20.799 Net assets 167,204 20.799 188.003 at 31 M4r¢h 2022 Unreslricied funds Reslrfcled Total FuThJs fufKIs 2022 xed assets currt assets Creililors less than 1 year 14.487 677.926 1409.2901 14.487 e77.926 1409.2901 Ngt as88ls 283.123 283,123 21 Oppratln9 a#a commitments total future rniThmum lease paymenis under n0canCelIae operatlng leases a as follokn8". 2023 2022 No later Ihan 1 year Later than 1 year and not Sater than S y&8rs More Ihan 5 years 20.000 80,000 215,726 315,726 21.875 80.wo 235.726 337.601 The arntsurt of lease payments recognised as an expense In chariiablt aclivibe5 duriry the year 15 £21.875 12022". £22,500). 24
Marina Theatre Trust Company Ilmited by Guarantee Notes to the flnanclal statements Icontinuedl Year ended 31 March 2023 22 Rel•ted par the period the Trust received £150.00012022.' £150.0001 frorn Lowesloft Tovm Councll In ¥¢¢ordance the managemenl agreement. Al Ihe ye8r end the Trust was owed ENil12022.. £Nill. Ouring th? year the Trust also reNed £17,858 12022.. £9,090> towards cosls inwffed by the Trust from Lowesloft Town Coundl. The property ocGupK9d bytho Trust18 ovmed by Lowesloft Town Counul •nd durlng the year rentwas paid to Ihe Counul of £20.000 12022.. £20.0001. Al the period end the Tru owed £Nil lo Lowe$loft Town Coundl and was owed £NlfroTh Ihe Councll. During the year the Trust rerLived £117.000 12022.. £NiD of grant funding frorn Easl Suffolk Counc. Durfny the year the Trust tewed £Nil {2022.. £7.6081 towards Costs incutred by the Trust and faclllty hire from Easi Suffolk Coun¢xl. The Trust pald East Suffolk Coundl for rK)n4ometstic rate5 of £2.68812022.' E1.3721. The Trust P8KI E&¥t Suffolk Counol for an annu81 pretnitse5 lirEnce of £295 12022." £2961. The spouse of a fornr mernber ol Ihe management team rete7¥ed remuneralion Ihe pertod ol £Nil 12022.. £1,160>. No amouniswere outstanding al year erxl. The father of a mefflb2r of the management team recefved femuneraiion during the perfod 01£1H 12022.. £631. No amounts were ouistanding al the yearend. Dunno Ihe year the Trust incurred 8xp8ndilure of £Nil12022." £4.7821 for buSldlng 8eM¢wts provided by a Spouse of a member of the rnan3gementteam. Al the yearen(lhe Tru51 owed £NII12022." £9501. During Ihe year the Trust incurred eJendI1Ure of £250 12022. £Nill which rtrlales to mernber5h fee$ for the Asswatlon of Bfiti5h Theatre Te¢hniu8ns ofwhKh R Townteyis a parf of ihe key managernenl personnel. Durng the year Ihe Tru$1 incLwred expendilure of £Nil 12022.. £7261 for propeTty Maintenar seMce$ provkled ty a close famity member of a memberof the managementteam. 23 Rosults of Th•atr• Tr¢ During the >*ar. Ihe charfty mado 8 deficit of £95.120 indudrt) gfft ald from $ubsvJiary ol E16.882 12022. surplus of £81,478). Th2 Gharity Is not requlred lo Produ Iheir own Stslement of Financial Adimties because of Ihe exemption prO850n Sn Seciion 408 01 ihe Companie5 Acl 2006. 25