2023-03-31-accounts - The Albany Theatre Trust

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				Page
Reference and administrative details
Report ofthe	Directors and Trustees'	Annual	Report
Independent	Auditor's report
Consolidated	Statement of Financial	Activities		12
Group and Charity Balance Sheet				13
Consolidated	Statement ofCash Flows			14
Notes to the	Financial Statements			15

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEES OF THE ALBANY THEATRE TRUST {A COMPANY LIMITED BY GUARANTEE) The specific pr¢xedure$ for this engagement and the extent lo which these are capable of detecting irregularities, including fraud is detsiled below". Enquiry of management, and those Charged with govemanca around actual and potential litigation and claim8'. Reviewing minutes of meetings of those ¢h8rged w¢th governance,, Reviewing financial ¥talement disclosures and lesling to ¥upportlng docum8nl¥lion to assess compliance with applicablg laws and regulation8. Performing audil work over the risk of management override of controls, including testing lournal entries and other adjusbnents for appropriateness, evaluating the business rationale of signifunt transactions Olrtsldo th& normal course of bu8ines8 and ravlewing 8ecounling e81imat88 for bi88. Be¢au8e of the inherent limltation8 of an audit, Ih8re 18 a risk that wè will not detect all irregularilth, including those leading lo a mal&rk41 mi8Statement in the financlal statements or non•compliance with regulalK*n. This ri8k in¢reases the more thal compli8nc8 with a law or wulalion is removed from the event8 and transactions reflected in the financiAI 81al8menls. as we will be le88 lik8ty 10 become aware of in8lances of non-complkqnce. The rlsk 13 also greater regarding irregulariti88 c¢¢urring ¢Jue to fraud rather than error. 88 fraud Involves intentional concealmant, forgery. colluBlon, C41118$1on or mi8repr88entation. A further description of our ra8pon81bllltlg8 Is available on the Flnancial Reportlng Council's website al." https'.IlvMw.frc.org.ukJOui-WorklAudlVAudit-and-a88uran¢6lStandardJ-and-guidancelStsnd8rd8- 8nd-guidancè-for-audil0rslAuditors488pon8ibililie8-for-8uditlD8rlpt1On-Of-aUdlt0rSeSP0n$lb1lltles• lor-audit.a$px. Thi8 description form$ part of our auditor'8 report. U89 of our report This ieport 58 made 8010ty to the charitable company's members, as a body, in accordanc6 with Chapter 3 of Part 18 of the Companles Act 2006 and to tho ¢haritable company'B tru8te88, as body. in accordance with Part 4 of the Charities IA¢¢ounty and Report81 R8gulation8 2008. Our audlt work h88 bgen undertaken $0 that we Might 81ale lo the charitable eompany's mgmbers and tts Iru$lees those mattern we are raqulrod to $tsle lo thgm in an audltorfs report and for no other purpose. To the fullèst extent permffted by law, we do not accept or a80um• ro8pon$ibility lo anyone other than the charitable company and the ch8rltabla company's members a8 a body and the charitable company'8 Iru81ees a8 a bodyi for our audit wwk, for thk8 report, or for lh¢ opinion$ wo have formed. Slgned: G R Cox BA FCA (Senior Stslulory Audltorl For and on beham of Dafferns LLP Charteied Accountants Stslulory Auditor One Eastwood Hary Weston Road BInY Business Park Coventry CV3 2UB Pag811

						Total	Total
		Na		~UM d	~R	2023	2022
						6	F
INCOME FROM:
Donations and legacies:
Grants					631,897	631,897	625,000
Donations				110,414	-	110,414	14,554
Charitable Activities:
Operation oftheatre			4	475,599		475,599	257,319
Other trading activities Other income			5	155,144 9,353		155,144 9,353	172,543 3,416
Total income				750,510	631,897	1,382,407	1,072,832
EXPENDITURE ON:
Trading activities				65,171		65,171	85,488
Charitable activities:
Operation oftheatre			6	745,729	36,125	781,854	602,926
Other:
Governance costs			7	17,517		17,517	3,950
Total expenditure				828,417	36,125	864,542	692,364
Net income Inst expenditure	for
the period before transfers				(77,907)	595,772	517,865	380,468
Transfer between funds
Net movement in funds				(77,907)	595,772	517,865	380,468
Reconciliation offunds
Total funds brought forward				814,031	251,998	1,066,029	685,561
Total funds carried forward			18	736,124	847,770	1,583,894	1,066,029

				Registe	Registe	red No. 079	29154
	GROUP AND CHARITY			BALANCE SHEET
		31	March	2023
				~Grou		CharihC
				2023	2022	2023	2022
			Notes		6		F
FIXEDASSETS
Tangible assets			10	1,220,114	775,081	1,220,114	775,081
Investment			11			100	100
CURRENT ASSETS
Stock			12	5,045	8,291	5,045	8,291
Debtors			13	38,506	31,220	38,879	59,062
Cash at bank and in hand				843,842	511,155	840,545	491,644
				887,393	550,666	884,469	558,997
LIABILITIES
Creditors falling due within	one year		14	(523,613)	(239,000)	(520,796)	(247,348)
NET CURRENT ASSETS				363,780	311,666	363,673	311,649
TOTAL ASSETS LESSCURRENT		LIABILITIES		1,583,894	1,086,747	1,583,887	1,086,830
CREDITORS
Amounts falling due after more than		one year	14		(20,718)		(20,718)
NET ASSETS				1,583,894	1,066,029	1,583,887	1,066,112
FUNDS OF THE CHARITY
Unrestricted income fund				736,124	814,031	736,117	814,114
Restricted funds			19	847,770	251,998	847,770	251,998
TOTAL CHARITY FUNDS				1,583,894	1,066,029	1,583,887	1,066,112

			Group	Group
			2023	2022
		Notes	8
Net cash flow from operating	activities	20	803,212	618,048
Cash flow from investing activities
Payments to acquire tangible	fixed assets		(470,525)	(204,241)
Net cash flow from investing	activities		(470,525)	(204,241)
Net increase in cash and cash equivalents			332,687	413,807
Cash and cash equivalents	at 31 March 2022		511,155	97,348
Cash and cash equivalents	at 31 March 2023		843,842	511,155
Cash and cash equivalents	consists of:
Cash at bank and in hand			843,842	511,155
Short term deposits
Cash and cash equivalents	at 31 March 2023		843,842	511,155

		~ted	~	tdd t	Total 2023	Total 2022
		6			6	6
INCOME FROM:
Donations and legacies:
Grants			631,897		631,897	625,000
Donations		110,414			110,414	14,554
Charitable Activities:
Operation oftheatre		587,259			587,259	359,696
Other income		9,353			9,353	61,259
Total income		707,026	631,897 1,338,923			1,060,509
EXPENDITURE ON:
Charitable activities:
Operation oftheatre		747,654	34,200		781,854	602,926
Grants paid		19,852		1,925	21,777	72,608
Other:
Governance costs		17,517			17,517	3,950
Total expenditure		785,023	36,125		821,148	679,484
Net income Inst expenditure	for
the period before transfers		(77,997)	595,772		517,775	381,025
Transfer between funds
Net movement in funds		(77,997)	595,772		517,775	381,025
Reconciliation offunds
Total funds brought forward		814,114	251,998 1,066,112			685,087
Total funds carried forward		736,117	847,770 1,583,887			1,066,112

GRANTS	RECEIVED	2023	2022
		F	5
Coventry	City Council	597,697	300,000
Arts Council			250,000
Coventry	City Culture ofTrust	34,200
General	Fundraising		75,000
		631,897	625,000

THEATRE INCOME
Theatre hire	196,426	106,647
Bar income	113,428	60,524
Kiosk sales	32,290	18,715
Boxoffice ticket charge	22,623	13,236
Boxoffice charges	65,560	31,769
Ticket levy	45,272	26,428
	475,599	257,319

OTHER INCOME
Other income	1,796	1,240
Outreach income	6,526	2,176
Sponsorship income	1,031
	9,353	3,416

		forth	e year ended	31March 2023
OPERATION OF		THEATRE			2023	2022
					8	5
Barpurchases					53,812	23,828
Ice cream purchases					5,410	1,384
Kiosk purchases					10,564	8,005
Direct show costs					4,984	638
Operating expenses:
Establishment					192,787	154,331
Consultancy and	staff costs				341,346	262,217
Marketing and website					46,770	33,269
Communication	and IT				12,497	10,742
Technical					7,021	11,935
Electrical repairs	and maintenance				1,413
Building work and		security			4,327	4,844
PPL Licence					674	967
Professional fee					4,666	1,697
Sundries					1,204	743
Depreciation					25,492	28,564
Bad debt					33,919
Bank Charges					1,068	495
BoxOffice Costs					25,223	16,257
Project Manager	Fees				8,295	39,990
Outreach costs					382	3,020
					781,854	602,926
2022 expenditure		is all attributed	to unrestricted	funds.
GOVERNANCE	COSTS				~22	2022
					5	E
Audit					11,295	3,950
Professional Fees					6,222
					17,517	3,950

No paym	ent ofexp	enses has been made to Trustees	in the current or preceding year.
STAFF	COSTS		~202	2022
			E
Wages	and Salaries		307,288	234,876
National	Insurance	Contributions	20,339	14,554
Pension	contdbutions		6,080	4,683
			333,707	254,113

		for	the year ended 31	March 2023
12.	STOCK			Group		Charity
				2023	2022	2023		2022
				E				E
	Bar and food stock			5,045	8,291	5,045		8,291
13.	DEBTORS
	Trade debtors			2,515	1,248	2,460		1,248
	Prepayments and accrued income			14,068	29,972	14,068		29,972
	Amounts due from subsidiary		undertakings			428		27,842
	Other debtors			21,923		21,923
				38,506	31,220	38,879		59,062
14.	CREDITORS:
	Falling Due Within One Year
	Trade creditors			261,955	60,778	261,955		60,538
	Other creditors			64,598	10,327	64,598		10,327
	Accruals and deferred	income		188,399	153,060	188,399		153,060
	Taxation and social security			8,661	14,835	5,844		23,423
				523,613	239,000	520,796	.	247,348
	Amounts falling due	after more than one year
	Other creditors				20,718			20,718
	Total liabilities			523,613	259,718	520,796		268,066
	The amount, due other	than by instalments,
	falling due after five years				11,677			11,677

FUND	RECONCILIATION —RES	TRICTED FUN	DS
		Balance at				Balance at
		rll2022		tddt	ddiit	3~3333M3	333333
			5		F		F
Extracare Workshop		4					4
Spon Spun Festival Fund		214					214
Whistle	in the Dark Fund	465					465
Playing	with the Bard Fund	139					139
Go and	see grant	100					100
Cadbury	Fund —Outreach	1,925			(1,925)
Coventry City Council capital grant		249,151	597,697			846,848
Coventry City ofCulture Trust grant			34,200	(34,200)
		251,998	631,897	(36,125)		847,770

~1A 12922	C hfl f	ILllh 2023 5
511,155	332,687	843,842

Total future minimum lease payments under non-cancellabl	e operating leases are as fol	lows:
	5
Not later than one year	33,333	75,364
Later than one and not later than five years	400,000	301,456
Later than five years	941,667	401,941
	1,375,000	778,761