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





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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$1on or mi8repr88entation.
A further description of our ra8pon81bllltlg8 Is available on the Flnancial Reportlng Council's website
al." https'.IlvMw.frc.org.ukJOui-WorklAudlVAudit-and-a88uran¢6lStandardJ-and-guidancelStsnd8rd8-
8nd-guidancè-for-audil0rslAuditors488pon8ibililie8-for-8uditlD8￿rlpt1On-Of-aUdlt0rS￿eSP0n$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
BIn￿Y Business Park
Coventry
CV3 2UB
Pag811

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|||||||Total|Total|
|---|---|---|---|---|---|---|---|
|||Na||~UM<br>d|~R|2023|2022|
|||||||6|F|
|INCOME FROM:||||||||
|Donations<br>and legacies:||||||||
|Grants|||||631,897|631,897|625,000|
|Donations||||110,414|-|110,414|14,554|
|Charitable<br>Activities:||||||||
|Operation<br>oftheatre|||4|475,599||475,599|257,319|
|Other trading<br>activities<br>Other income|||5|155,144<br>9,353||155,144<br>9,353|172,543<br>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<br>activities:||||||||
|Operation<br>oftheatre|||6|745,729|36,125|781,854|602,926|
|Other:||||||||
|Governance<br>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<br>funds||||||||
|Net movement<br>in funds||||(77,907)|595,772|517,865|380,468|
|Reconciliation<br>offunds||||||||
|Total funds brought<br>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|





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|||||Registe|Registe|red<br>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<br>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<br>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<br>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|






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||||Group|Group|
|---|---|---|---|---|
||||2023|2022|
|||Notes|8||
|Net cash flow from operating|activities|20|803,212|618,048|
|Cash flow from investing<br>activities|||||
|Payments<br>to acquire tangible|fixed assets||(470,525)|(204,241)|
|Net cash flow from investing|activities||(470,525)|(204,241)|
|Net increase<br>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<br>in hand|||843,842|511,155|
|Short term deposits|||||
|Cash and cash equivalents|at 31 March 2023||843,842|511,155|





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|||~ted|~|tdd t|Total<br>2023|Total<br>2022|
|---|---|---|---|---|---|---|
|||6|||6|6|
|INCOME FROM:|||||||
|Donations<br>and legacies:|||||||
|Grants|||631,897||631,897|625,000|
|Donations||110,414|||110,414|14,554|
|Charitable<br>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<br>activities:|||||||
|Operation<br>oftheatre||747,654|34,200||781,854|602,926|
|Grants paid||19,852||1,925|21,777|72,608|
|Other:|||||||
|Governance<br>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<br>in funds||(77,997)|595,772||517,775|381,025|
|Reconciliation offunds|||||||
|Total funds brought<br>forward||814,114|251,998 1,066,112|||685,087|
|Total funds carried forward||736,117|847,770 1,583,887|||1,066,112|





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|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|



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|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|



|5.|OTHER INCOME|||
|---|---|---|---|
||Other income|1,796|1,240|
||Outreach<br>income|6,526|2,176|
||Sponsorship<br>income|1,031||
|||9,353|3,416|





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|||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<br>expenses:|||||||
|Establishment|||||192,787|154,331|
|Consultancy<br>and|staff costs||||341,346|262,217|
|Marketing<br>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<br>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<br>Fees|||||6,222||
||||||17,517|3,950|



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|No paym|ent<br>ofexp|enses has been made to Trustees|in the current or preceding<br>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|





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|||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<br>and accrued income|||14,068|29,972|14,068||29,972|
||Amounts<br>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<br>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,<br>due other|than by instalments,|||||||
||falling due after five years||||11,677|||11,677|



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|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<br>City Council capital grant||249,151|597,697|||846,848||
|Coventry<br>City ofCulture Trust grant|||34,200|(34,200)||||
|||251,998|631,897|(36,125)||847,770||





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|~1A<br>12922|C<br>hfl<br>f|ILllh 2023<br>5|
|---|---|---|
|511,155|332,687|843,842|



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|Total future<br>minimum<br>lease payments<br>under non-cancellabl|e<br>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|



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