2021-07-31-accounts - Exeter Northcott Theatre Company

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Contents				Page
Reference and Administrative		Details
Trustees' Report
Independent Auditor's	Report			17
Statement of Financial	Activities		—Group	21
Statement of Financial	Activities		—Charity	22
Balance Sheet - Group				23
Balance Sheet —Charity				24
Statement of Cash Flows
Notes to the Financial	Statements			26

Chair		BQ Monks	(appointed	14June 2021)
		R Chapman	(appointed	14June 2021)
		S L R Studholme	(resigned	14June 2021)
University	of Exeter	M Shore-Nye
nominees:		J Gill
		JT Leyland	(appointed	14June 2021)
		A L Smith 0 Harvey	(appointed (resigned	14June 2021) 14June 2021)
		R.McCay-Hines	(resigned	14June 2021)
Trustees:		David Balcombe
		Craig Bowden
		James Anthony-Edwards
		Janet Farr
		Catherine Goodridge
		Helen Hartstein
		Chris Hoar
		Mandy Ivory-Castile
		S Elghady	(appointed	14June 2021)
		SGola	(appointed	14June 2021)
		I H McWalter	(retired 31	March 2021)

			Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
			Funds	Funds	Funds	Funds	Funds	Funds
			2021	2021	2021	2020	2020	2020
		Notes		K				E
Income
Donations and legacies Charitable activities 3 Commercial trading operations Investment income			29,581 703,781 20,748 35	1,598 498,647	31,179 1,202,428 20,748 35	63,983 1,599,400 275,488 381	9,410 292,748	73,393 1,892,148 275,488 381
Total income			754,145	500,245	1,254,390	1,939,252	302,158	2,241,410
Expenditure
Commercial trading Charitable activities	operations 4		18,8'79 663,805	511,521	18,879 1,175,326	266,118 1,598,560	152,664	266,118 1,751,224
Total expenditure			682,684	511,521	1,194,205	1,864,678	152,664	2,017,342
Net income			71,461	(11,276)	60,185	74,574	149,494	224,068
Total funds at 1 August		2020	512,331	339,817	852,148	437,757	190,323	628,080
Total funds at 31 July		2021	583,792	328,541	912,333	512,331	339,817	852,148

		Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
		Funds	Funds	Funds	Funds	Funds	Funds
	Notes	2021	2021	2021	2020	2020 f	2020
Income
Donations and legacies Charitable activities Investment income	3	38,951 703,781 35	1,598 498,647 -	40,549 1,202,428 35	128,285 1,599,400 381	9,410 292,748 —	137,695 1,892,148 381
Total income		742,767	500,245	1„243,012	1,728,066	302,158	2,030,224
Expenditure
Charitable activities	4	663,805	511,521	1„175,326	1,598,560	152,664	1,751,224
Total expenditure		663,805	511,521	1,175,326	1,598,560	152,664	1,751,224
Net income		78,962	(11,276)	67,686	129,506	149,494	279,000
Total funds at 1 August	2020	502,960	339,817	842,777	373,454	190,323	563,777
Total funds at 31 July	2021	581,922	328,541	910,463	502,960	339,817	842,777

31 July 2021
			Notes	2021	2020
					E
Fixed assets
Intangible fixed assets Tangible fixed assets				10,913 83,560	10,080 99,480
				94,473	109,560
Current assets
Stock Debtors Cash at bank and	in	hand	9 12 13	3,063 361,586 1,059,017	4,413 498,954 621,824
				1,423,666	1,125,191
Creditors -amounts		falling
due within one year			14	(605,806)	(382,603)
Net current assets				817,860	742,588
Net assets				912,333	852,148
Funded by:
Unrestricted funds Restricted funds			16	583,792 328,541	512,331 339,817
Total group funds			17	912,333	852,148

31 July 2021
		Notes	2021	2020f
Fixed assets
Intangible fixed assets Tangible fixed assets Investment in subsidiary		7 8 10	10,913 83,560 1	10,080 99,480 1
			94,474	109,561
Current assets
Debtors Cash at bank and in	hand	12 13	369,391 1,045,558	603,806 505,252
			1,414,949	1,109,058
Creditors - Amounts	falling
due within one year		14	(598,960)	(375,842)
Net current assets			815,989	733,216
Net assets			910,463	842,777
Funded by:
Unrestricted funds Restricted funds		16	581,922 328,541	502,960 339,817
Total charity funds		17	910,463	842,777

31 July 2021
						2021f	2020 f.
Reconciliation ofnet	movement		in funds		to
net cash flow from operating activities:
Net movement in funds						60,185	224,068
Depreciation						36,294	31,223
Interest income						(35)	(381)
Decrease in stocks						1,350	1,705
Decrease in debtors						137,368	3,381
Increase (decrease) in	creditors					223,203	(159,616)
Net cash generated from operating			activities			458,365	100,380
Cash flows from investing		activities
Interest income						35	381
Acquisition ofintangible	fixed assets					(4,470)	(10,080)
Acquisition oftangible	fixed	assets				(16,737)	(16,297)
Cash used in investing	activities					(21,172)	(25,996)
Increase in cash and	cash	equivalents		in	the year	437,193	74,384
Cash and cash equivalents		at the beginning			ofthe year	621,824	547,440
Cash and cash equivalents		at the end of			the year	1,059,017	621,824

Income from charitable F498,647of restricted	activities represents 2703,781 of income (2020:6292,748).	activities represents 2703,781 of income (2020:6292,748).	unrestricted incom	e (2020:E	1,599,400) and
Included within grant government and other	income from charitable activities public authorities.		are the following	amounts	received from
		Group 2021	Charity 2021	Group 2020	Charity 2020
				K
Arts Council Arts Council-Cultural	Recovery Fund	125„000 277,380	125,000 277,380	125,000 0	125,000 0
Exeter City Council Coronavirus Job Retention Scheme		65,000 189,441	65,000 189,441	90,000 172,801	90,000 172,801

Group and	charity
			Venue Hire L
		Production	Wardrobe	Total
Production	costs	238,205	10,260	248,465
Wages		666„727	28,718	695,445
Consultancy		11,264	485	11,749
Property costs		66,664	2,871	69,535
Depreciation		31,308	1,349	32,657
Bank charges		4,138	178	4,316
Marketing		45,111	1,943	47,054
Travel		63	3	66
Office costs Staff welfare Governance Audit fees Conference and training		24,388 1,250 24,990 8,293 4,391	1,050 54 1,076 357 190	25,438 1,304 26,066 8,650 4,581
Total		1,126,792	48,534	1,175,326


Group and charity			Venue Hire L
		Production	Wardrobe	Total
Costs Venue and equipment Boxoffice income Direct grant support	hire income	1,126,792 (176,586) (1,004,485)	48,534 (7,606) (43,266)	1,175,326 (7„606) (176,586) (1,047,751)
Net cost funded from	other income	(54,279)	(2,338)	(56,617)

	2021	2020
Wages and salaries Social security costs Pension costs	688,765 44,856 11373	803,078 56,300 16,042
	744,994	875,420

The average	number ofemploye	es (headco	unt) during	the year was:
					2021	2020
					Number	Number
Sales					7	25
Productions					11	24
Administration					4	5
Development	and education				3	3
Actors						2
					25	59
The average	number offull-time	equivalent	employees	during the year was:
Sales						10
Productions						14
Administration						4
Development	and education					1
Actors						4
					15	33

Ye	ar Ended 31 July 2021
7	Intangible fixed assets —group and charity
		Website	Website
		Costs	Costs
		2021	2020
			E
	Cost
	At 1 August 2020	10,080
	Additions	4,470	10,080
	At 31July 2021	14,550	10,080
	Amortisation
	At 1 August 2020
	Charge for the period	(3,637)
	At 31July	(3,637)
	Net BookValue
	At 31July 2021	10,913	10,080
	At 31 July 2020	10,080
8	Tangible fixed assets
	Group
		IT, Fixtures	IT, Fixtures
		LFittings	& Fittings
		2021	2020
	Cost
	At 1 August 2020	208,497	192,200
	Additions	16,737	16,297
	At 31July	225,234	208,497
	Depreciation
	At 1 August 2020 Charge for the period	(109,017) (32,657)	(77,794) (31,223)
	At 31July	(141,674)	(109,017)
	Net Book Value
	At 31July 2021	83,560	99,480
	At 31 July 2020	99,480	114,406

Ye	ar Ended 31 July 20	21
8	Tangible fixed assets	(continued)
	Charity
			IT, Fixtures	IT, Fixtures
			LFittings	& Fittings
			2021	2020
	Cost
	At 1 August 2020		196,798	180,501
	Additions		16,737	16,297
	At 31July 2021		213,535	196,798
	Depreciation
	At 1 August 2020		(97,318)	(66,095)
	Charge for the period		(32,657)	(31,223)
	At 31July 2021		(129,975)	(97,318)
	Net Book Value
	At 31July 2021		83,560	99,480
	At 31 July 2020		99,480	114,406
9	Stock - group
			2021	2020
	Goods for resale		3,063	4,413
10	Investments —charity
			2021	2020
	Shares in subsidiary

The results o	f ENT Trading Limited wer	e as follows:
				Year ended	Year ended
				31Jul 2021	31Jul 2020
Turnover				20,748	275,488
Cost ofsales				(25,526)	(216,647)
Administrative	expenses			6,645	(49,471)
Operating Profit				1,867	9,370
Donations				(9,370)	(64,302)
(Loss)for the	year			(7,503)	(54,932)
				At	At
				31Jul 2021	31Jul 2020
Assets				21,005	125,330
Liabilities				(19,137)	(115,960)
Shareholders'	funds			1,868	9,370
Debtors: due	within one year
		Group 2021	Charity 2021	Group 2020	Charity 2020
			f.
Trade debtors Amount due from group undertaking Prepayments Other taxes and social security VAT Other debtors		24,531 51,084 6,493 4,876 274,602	24,531 12,288 46,924 6,493 4,553 274,602	7,506 49,666 33,250 12,237 396,295	7,321 109,217 45,506 33,250 12,217 396,295
		361,586	369„391	498,954	603,806

Ye	ar Ended	31 July 2021	31 July 2021
13	Cash at	bank and in hand
				Group	Charity	Group	Charity
				2021	2021	2020	2020
	Cash at	bank and	in hand	1,059,017	1,045,558	621,824	505,252
14	Creditors: due within one year
				Group 2021	Charity 2021	Group 2020	Charity 2020
	Trade creditors			88,025	83,056	96,660	92,107
	Deferred	income	(note 15)	2,425	2,425	3,836	3,836
	Accruals			21,087	21,087	51,756	50,656
	Other taxes and social security			12,530	12,530	11,993	11,993
	Other creditors			481,739	479,862	218,358	217,250
				605,806	598,960	382,603	375,842
15	Deferred	income
				Group	Charity	Group	Charity
				2021	2021	2020	2020
						K
	Balance as at 1 August 2020 Amount released to income from charitable activities			3,836 (3,836)	3,836 (3,836)	46,978 (46,978)	43,728 (43,728)
	Amount	deferred	in year	2,425	2,425	3,836	3,836
	Balance	as at 31	July 2021	2,425	2,425	3,836	3,836

Year ended 31July 2	0	21
			Balance at			Balance at
			01/08/2020	Income Expenditure		31/07/2021
Restricted Fund
Exeter City Council			43,333	65,000	65,000	43,333
Viscount Amory			11,667		5,000	6,667
Heritage Lottery Fund			138,434		39,506	98,928
John Nettles Donation University ofExeter Esmee Fairbairn Foundation			12,943 26„952 75,379	53,213 6,250	5,416 12,951 43,892	7,527 67,214 37,737
Patron Donation Western Jerwood Bursary Exeter Foundation Gibbons Family Trust			6,716 14,040 3,143 910		2,892 5,850 1,298 910	3,824 8,190 1,845
ldlewild Trust The Mackintosh Foundation			3,050 3,000			3,050 3,000
National Lottery Claire Milne Bruce Wake Charitable Northbrook Community ESFTech Futures grant		Trust Trust	250	6,750 9,020 2,000 22,770 13,468	4,790 8,886 1,590 1,466	2,210 134 2,000 21,180 12,002
Patron Donation for NYC bursaries				200	200
LiveWest				1,000	1,000
Architectural Heritage	Fund			15„000	15,000
Arts Council —CRF2				91,681	91,681
Point ofsale restricted	donations			598	598
ECC Kickstart Arts council —CRF1				23,896 183,399	14,196 183,399	9,700
Exeter College				5,000	5,000
Patron Donation				1,000	1,000
Total restricted funds			339,817	500,245	511,521	328,541

			Balance at			Balance at
			01/08/2020	Income	Expenditure	31/07/2021
			E
Restricted Fund
Arts Council England,		NPO Grant	676		676
Exeter City Council Core Grant			43,333	75,000	75,000	43,333
University ofExeter			29,000	4,438	6,486	26,952
Esmee Fairbairn	Foundation		105,561	5,180	35,362	75,379
Patron Donation			9,608		2,892	6,716
Making the Connection			300		300
Pay It FonNard campaign			1,845	5,152	6,997
Viscount Amory				15,000	3333	11,667
HLF				143,500	5,066	138,434
John Nettles				20,000	7,057	12,943
Western Jerwood	Bursary			14,040		14,040
Michelmores				258	258
Exeter Foundation				3,900	757	3„143
Gibbons Family Trust				910		910
Noel Coward Foundation				7,730	7,730
Idlewild Trust				3,050		3,050
The Mackingtosh	Foundation			3,000		3,000
National Lottery				1,000	750	250
Total restricted funds			190,323	302,158	152,664	339,817

Fund balances at 31 July 2021 are represented	by:
		Unrestricted	Restricted	Total
		Fundsf	Fundsf	Fundsf
Fixed assets		73,649	20,824	94,473
Current assets		1,115,949	307,717	1,423,666
Current liabilities		(605,806)		(605,806)
Net assets		583,792	328,541	912,333
Fund balances at 31 July 2020 are represented	by:
		Unrestricted	Restricted	Total
		Fundsf	Fundsf	Funds
Fixed assets		79,844	29,716	109,560
Current assets		815,090	310,101	1,125,191
Current liabilities		(382,603)		(382,603)
Net assets		512,331	339,817	852,148

Charity
Fund balances at 31 July 2021 are represented	by:
		Unrestricted	Restricted	Total
		Fundsf	Fundsf	Fundsf
Fixed assets		73,650	20,824	94,474
Current assets		1,107,232	307,717	1,414,949
Current liabilities		(598,960)		(598,960)
Net assets		581,922	328,541	910,463