OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-06-30-accounts

Financial Statements at 16 January 2023 at 12:49:41

Charity Registration No. 1166020

Company Registration No. 08092391 (England and Wales)

EAST RIDING THEATRE LIMITED

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

74 Lairgate Beverley East Yorkshire United Kingdom HU17 8EU

Financial Statements at 16 January 2023 at 12:49:41 EAST RIDING THEATRE LIMITED

CONTENTS

Page
Company information 1
Trustees' report 2 - 5
Independent examiner's report 6
Statement of financial activities 7
Balance sheet 8 - 9
Notes to the financial statements 10 - 22

Financial Statements at 16 January 2023 at 12:49:41 EAST RIDING THEATRE LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Miss C H Wade Mrs S Kirkman V Regan Ms A E Cooper A R Rawlins G B Tait Ms L A Archer (Appointed 3 December 2021) Mr S R Parnaby (Appointed 3 December 2021) Secretary Mrs S Kirkman Charity number 1166020 Company number 08092391 Principal address 10 Lord Roberts Road Beverley East Yorkshire United Kingdom HU17 9BE Registered office 10 Lord Roberts Road Beverley East Yorkshire United Kingdom HU17 9BE Independent examiner TC Group 74 Lairgate Beverley East Yorkshire United Kingdom HU17 8EU

Financial Statements at 16 January 2023 at 12:49:41 EAST RIDING THEATRE LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 30 JUNE 2022

The trustees present their report and financial statements for the year ended 30 June 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016)

Objectives and activities

The objective and aim of the Company is to advance education in the arts for the benefit of the Public by production of performance art, including drama, music, dance and other performing arts, and by encouraging and providing facilities for the understanding, appreciation and development of performing arts, creative arts and visual arts. And in furtherance of these objects, to provide and manage a theatre and performance venue in Beverley, East Riding of Yorkshire.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Significant activities

On 14th March 2020 East Riding Theatre closed as a result of the Covid-19 Pandemic. The Theatre remained closed throughout the year to 30th June 2021 and did not reopen until July 2021. Audiences were limited to around 50% of maximum capacity for the first few months and returned full capacity for the 2021 Christmas show (with a few restricted capacity performances offered). Audiences picked up a little in the second half of the year but did not recover to pre-pandemic levels.

Public benefit

On reopening the company has resumed its public benefit obligations. There were two weeks of Summer School in July 2021 and three weeks are planned for July 2022.

Financial Statements at 16 January 2023 at 12:49:41 EAST RIDING THEATRE LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2022

Achievements and performance

East Riding Theatre opened its doors in December 2014 and has had great success in presenting high quality, professionally produced drama. The theatre also hosts music and comedy events and provides training and development opportunities for communities in the East Riding of Yorkshire.

In 2021 ERT updated its mission statement and aims as follows:

ERT produces high-standard, life affirming plays and presents a variety of performing arts to enhance the lives of our local community through creative engagement for all.

Our Vision is to:

Engage in:

Relevant and life affirming high quality productions Delivery of a diverse and financially sustainable artistic programme Measurable audience development Organisation-wide and long-term commitment to diversity and inclusion Short and long-term access solutions for people who have disabilities Realistic ways to improve environmental sustainability Specific creative experiences and community participation

Reach Out:

Education and community engagement projects for specific target groups Through volunteering programmes Broaden and measure ERT’s marketing capability and website accessibility Collaborate with other Arts organisations

Through outreach and in-house education programmes and training to audiences who have disabilities.

ERT presents drama from several sources as follows:

In-house productions – In-house shows are produced by ERT, and all costs and revenues are managed by ERT. The choice of what to produce is made by our Artistic Director in consultation with the Board. This year ERT has created three in-house shows: - The Dumb Waiter ; The Hound of the Baskervilles ; and our Christmas production - Frost Hollow Hall .

Company in Residence – SHE productions continued in their role as Company in Residence, staging shows for both adults and children.

Incoming Shows - ERT is a receiving house for shows produced by other companies. The company has developed relationships with other companies including the John Godber Company, Theatre Royal Wakefield, Paines Plough, York St John University. Visiting companies receive a share of box office sales with ERT and cover all their own production costs.

Festivals – ERT hosts festivals, including the biennial Beverley Puppet Festival and Stage4Beverley Music festival. Programming and planning festivals sits with the festival organisers and ERT charge a fee for use of the building, technical staff, and a fee for box office administration.

Music and Comedy - Hosting incoming music, comedy and spoken word shows provides a more varied programme encouraging those who might not otherwise attend the theatre as well as being financially beneficial to ERT. These shows help to develop and broaden our audience as well as expanding it geographically, with audiences often coming from further afield than our regular theatre audiences. The visiting companies and performers share receive a share of box office sales with ERT and cover all their own production costs.

Learning and Development - ERT is committed to developing talent particularly among young people who would not otherwise have had the opportunity to experience theatre, and in developing personal skills through participation in drama and music. During 2021/22 ERT organised two summer schools in drama and musical theatre.

Financial Statements at 16 January 2023 at 12:49:41 EAST RIDING THEATRE LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2022

Financial review

Reserves policy

It is the policy of East Riding Theatre to hold a reserve of at least £100,000 to mitigate the risks associated with income failing to materialise. As a result of the enforced closure of the Theatre in March 2020 and subsequent reduced activity this year, the Board determined that should it be necessary the Theatre would call on reserves to cover any essential spending during the closure. During 2020/21 the theatre was able to maintain funds of over £100,000 and the trustees hope to rebuild reserves as activity increases.

Investment policy and objectives

ERT holds cash in its current accounts and on deposit. The trustees have adopted a prudent, risk averse policy in respect of its cash holdings.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

As part of the ongoing management of the organisation ERT has produced a risk register to identify the key risks it faces and indicate how each risk is managed. The risk register has been drawn up in consultation with the ERT Board, key members of staff and volunteers.

Each risk and its associated mitigations are monitored by the Board and the Management team to ensure they are properly managed and remain up to date and relevant. The risk register is formally reviewed annually by the Board.

Future plans

By 30 June 2022 theatre activity had almost returned to pre-pandemic levels and the trustees expect the business to recover quickly. Daytime operation of the café has been limited but it is hoped will pick up over the near term.

East Riding of Yorkshire Council, who own the freehold to the building and the adjoining land on Lord Roberts Road, put the site up for sale. After further consideration ERYC decided to exclude the Theatre Building from the sale and proceed only with the adjoining land. It is understood that a buyer has been chosen but their identity is not known.

Structure, governance and management

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee as defined by the Companies Act 2006.

Financial Statements at 16 January 2023 at 12:49:41 EAST RIDING THEATRE LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2022

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

(Resigned 12 October 2021)

J Merrylees (Resigned 12 October 2021) Miss C H Wade Mrs S Kirkman V Regan Ms A E Cooper T C A Wilders (Resigned 30 June 2022) A R Rawlins G B Tait Ms L A Archer (Appointed 3 December 2021) Mr S R Parnaby (Appointed 3 December 2021)

Recruitment and appointment of new trustees

Trustees are recruited by nomination from existing trustees and appointed by majority vote of the board.

Organisational structure

The Board has overall authority and responsibility for the management of the organisation, including the artistic programme and maintaining its financial health. Day to day management is delegated to the general manager, who in turn is supported by a number of paid and volunteer staff.

Induction and training of new trustees

East Riding Theatre puts in place bespoke induction programmes for new trustees but has no formal training programme for new trustees.

Related parties

None of the Trustees receive remuneration or other benefit from their work as Trustees. Any connection between a trustee with a production company, contracted actor, performer or exhibitor must be disclosed to the full board of trustees in the same way as any other contractual relationship with a related party. In the current year the following trustees reported a connection:

Miss C H Wade Mrs S Kirkman Mr G B Tait

This is the fifth year of operation for ERT Catering Limited, a wholly owned subsidiary of East Riding Theatre Limited. The company was formed to operate the bar and cafe facilities at the theatre. ERT Catering Limited donates its profits to East Riding Theatre Limited, under Gift Aid rules.

The trustees' report was approved by the Board of Trustees.

..............................

Mr S R Parnaby

Trustee Dated: .........................

Financial Statements at 16 January 2023 at 12:49:41 EAST RIDING THEATRE LIMITED

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF EAST RIDING THEATRE LIMITED

I report to the trustees on my examination of the financial statements of East Riding Theatre Limited (the charity) for the year ended 30 June 2022.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

M K Todd FCA

74 Lairgate Beverley East Yorkshire HU17 8EU United Kingdom

Dated: .........................

Financial Statements at 16 January 2023 at 12:49:41 EAST RIDING THEATRE LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 JUNE 2022

Unrestricted
Restricted
funds
funds
2022
2022
Notes
£
£
Income and endowments from:
Donations and legacies
3
17,927
-
Charitable activities
4
220,924
32,731
Investments
5
3
-
Other income
6
8,273
-
Total income
247,127
32,731
Expenditure on:
Raising funds
7
-
-
Charitable activities
8
315,918
23,761
Total resources expended
315,918
23,761
Net (expenditure)/income for the year/
Net movement in funds
(68,791)
8,970
Fund balances at 1 July 2021
184,713
6,750
Fund balances at 30 June 2022
115,922
15,720		 Total
2022
£
17,927
253,655
3
8,273
279,858
-
339,679
339,679
(59,821)
191,463
131,642		 Total
2021
£
15,333
188,604
13
1,574
205,524
91
173,417
173,508
32,016
159,447
191,463

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

Financial Statements at 16 January 2023 at 12:49:41 EAST RIDING THEATRE LIMITED

BALANCE SHEET

AS AT 30 JUNE 2022

Notes
Fixed assets
Tangible assets
11
Investments
12
Current assets
Stocks
13
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within
one year
16
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
18
Unrestricted funds
Designated funds
19
General unrestricted funds		 2022
£
271
14,659
110,127
125,057
(23,796)
32,212
83,710		 £
30,281
100
30,381
101,261
131,642
15,720
115,922
131,642		 2021
£
-
24,453
168,639
193,092
(54,594)
18,725
165,988		 £
52,865
100
52,965
138,498
191,463
6,750
184,713
191,463

Financial Statements at 16 January 2023 at 12:49:41 EAST RIDING THEATRE LIMITED

BALANCE SHEET (CONTINUED)

AS AT 30 JUNE 2022

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 June 2022.

The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the Trustees on .........................

..............................

Mr S R Parnaby

Trustee

Company Registration No. 08092391

Financial Statements at 16 January 2023 at 12:49:41 EAST RIDING THEATRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

1 Accounting policies

Charity information

East Riding Theatre Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 10 Lord Roberts Road, Beverley, East Yorkshire, HU17 9BE, United Kingdom.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Incoming resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Financial Statements at 16 January 2023 at 12:49:41 EAST RIDING THEATRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2022

1 Accounting policies

(Continued)

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

1.5 Resources expended

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements 33% on cost
Plant and equipment 33% on cost
Fixtures and fittings 33% on cost
Computers 33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Financial Statements at 16 January 2023 at 12:49:41 EAST RIDING THEATRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2022

1 Accounting policies

(Continued)

Intangible assets with indefinite useful lives and intangible assets not yet available for use are tested for impairment annually, and whenever there is an indication that the asset may be impaired.

1.9 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.10 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.11 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial Statements at 16 January 2023 at 12:49:41 EAST RIDING THEATRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2022

1 Accounting policies

(Continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.12 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted Total
funds
general
2022 2021
£ £
Donations and gifts 17,927 15,333

Financial Statements at 16 January 2023 at 12:49:41 EAST RIDING THEATRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2022

4 Charitable activities

Ticket sales
Ice cream
Performance related grants
Sponsorships
Merchandising
Other income
Analysis by fund
Unrestricted funds - general
Restricted funds
For the year ended 30 June 2021
Unrestricted funds - general
Restricted funds
Performance related grants
Arts Council
East Riding of Yorkshire County Council
HEY Smile
Beverley Town Council
Garfield Weston
Other		 Theatre
2022
£
199,455
3,436
34,267
16,438
59
-
253,655
220,924
32,731
253,655
86,891
101,713
188,604
6,570
15,598
9,099
3,000
-
-
34,267		 Theatre
2021
£
13,963
-
122,669
26,834
-
25,138
188,604
86,891
101,713
188,604
75,714
24,956
-
1,999
20,000
-
122,669

Grants received included in income from charitable activities are as disclosed above.

Financial Statements at 16 January 2023 at 12:49:41 EAST RIDING THEATRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2022

5
6
7		 Investments
Unrestricted
funds
general
2022
£
Interest receivable
3
Other income
Unrestricted
funds
general
2022
£
Sundry income
8,060
Programme sales
213
8,273
Raising funds
Unrestricted
funds
general
2022
£
Fundraising and publicity
Staging fundraising events
-
-		 Total
2021
£
13
Total
2021
£
1,574
-
1,574
Total
2021
£
91
91

Financial Statements at 16 January 2023 at 12:49:41 EAST RIDING THEATRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2022

8 Charitable activities

Staff costs
Depreciation and impairment
Rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Advertising
Sundries
Bar and cafe purchases
Cast and costumes
Props, set design and building
Stage manager
Direction and production
PRS and PPL licence fees
Repairs and safety expenses
Royalties
Other charitable expenditure
Share of governance costs (see note )
Analysis by fund
Unrestricted funds - general
Restricted funds
For the year ended 30 June 2021
Unrestricted funds - general
Restricted funds		 2022
£
76,130
25,148
9,897
8,668
8,960
3,342
825
7,083
762
1,411
49,917
25,780
13,518
87,858
1,742
4,513
134
(5,762)
319,926
19,753
339,679
315,918
23,761
339,679
89,754
83,663
173,417		 2021
£
52,620
28,901
7,441
5,158
13,105
2,565
6
5,752
1,002
793
2,878
364
1,386
19,246
1,535
3,903
6,294
14,760
167,709
5,708
173,417
89,754
83,663
173,417

Financial Statements at 16 January 2023 at 12:49:41 EAST RIDING THEATRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2022

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

10 Employees

Number of employees

The average monthly number of employees during the year was:

2022 2021
Number Number
Theatre and catering 7 5
Employment costs 2022 2021
£ £
Wages and salaries 74,334 49,375
Social security costs 904 468
Other pension costs 892 2,777
76,130 52,620

There were no employees whose annual remuneration was £60,000 or more.

Financial Statements at 16 January 2023 at 12:49:41 EAST RIDING THEATRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2022

11
Tangible fixed assets
Leasehold
improvements
£
Cost
At 1 July 2021
12,903
Additions
-
Disposals
-
At 30 June 2022
12,903
Depreciation and impairment
At 1 July 2021
12,532
Depreciation charged in the year
372
Eliminated in respect of disposals
-
At 30 June 2022
12,904
Carrying amount
At 30 June 2022
(1)
At 30 June 2021
371		 Plant and
equipment
Fixtures and
fittings
£
£
127,648
6,956
1,746
-
-
-
129,394
6,956
77,533
5,888
23,936
31
-
-
101,469
5,919
27,925
1,037
50,117
1,068		 Computers
£
3,330
932
(110)
4,152
2,022
858
(48)
2,832
1,320
1,309		 Total
£
150,837
2,678
(110)
153,405
97,975
25,197
(48)
123,124
30,281
52,865

12 Fixed asset investments

Other
investments
Cost or valuation
At 1 July 2021 & 30 June 2022 100
Carrying amount
At 30 June 2022 100
At 30 June 2021 100
2022 2021
Other investments comprise: Notes £ £
Investments in subsidiaries 22 100 100

Financial Statements at 16 January 2023 at 12:49:41 EAST RIDING THEATRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2022

13
Stocks
Stock on hand
14
Debtors
Amounts falling due within one year:
Trade debtors
Amounts owed by subsidiary undertakings
Prepayments and accrued income
15
Loans and overdrafts
Bank overdrafts
Payable within one year
16
Creditors: amounts falling due within one year
Notes
Bank overdrafts
15
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income		 2022
£
271
2022
£
8,363
5,887
409
14,659
2022
£
162
162
2022
£
162
1,175
5,954
14,087
2,418
23,796		 2021
£
-
2021
£
214
23,807
432
24,453
2021
£
-
-
2021
£
-
466
38,147
13,581
2,400
54,594

Financial Statements at 16 January 2023 at 12:49:41 EAST RIDING THEATRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2022

17 Retirement benefit schemes

Defined contribution schemes

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £892 (2021 - £600).

Financial Statements at 16 January 2023 at 12:49:41 EAST RIDING THEATRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2022

18 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds Movement in funds
Balance at Incoming Resources Balance at
1 July 2021 resources expended 30 June 2022
£ £ £ £
Scholarship fund 1,500 1,500 (1,500) 1,500
Arts Council England 2,750 6,570 (9,320) -
Hull & East Riding Charitable Trust 2,500 - (2,500) -
HEY Smile - 9,099 (611) 8,488
ERYCC - Marketing Grant - 3,500 (3,500) -
ERYCC - Volunteers Grant - 2,950 (218) 2,732
Beverley Town Council - Partner grant - 3,000 - 3,000
KickStart Fund - 6,112 (6,112) -
6,750 32,731 (23,761) 15,720

The Scholarship Fund is for the provision of scholarships and meeting some of the cost of summer schools programmes.

Arts Council England Covid 19 Support Grant - Used to cover some theatre overheads during the period covered by the grants.

The Hull and East Riding Charitable Trust Fund was to cover some of the costs of reopening following lockdown.

HEY Smile provided funding for our Summer School programme and was used in August 2022.

East Riding of Yorkshire County Council provided an Arts Grant to help with marketing costs.

East Riding of Yorkshire County Council provided funds to support training and development costs for our volunteers. The funds were to be spent in the first quarter of the year ending 30 June 2023.

Beverley Town Council accepted ERT on its Strategic Partnerships scheme which provides funding on a 3- year rolling basis. The first grant was received on 29 June 2022.

The KickStart Fund was a government initiative to provide paid work experience for 6 months.

Financial Statements at 16 January 2023 at 12:49:41 EAST RIDING THEATRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2022

19 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:


Provision for productions		 Balance at
1 July 2021
£
18,725
18,725		 Transfers
Balance at
30 June 2022
£
£
13,487
32,212
13,487
32,212		 Transfers
Balance at
30 June 2022
£
£
13,487
32,212
13,487
32,212
32,212

East Riding Theatre produces its own shows and this carries a substantial risk, especially so because of Covid. Each show has to be funded up front and costs will only be covered if there are sufficient ticket sales or project grants. Therefore the directors have adopted a new policy of designating funds to cover budgeted production costs within the next four months.

20 Analysis of net assets between funds

Analysis of net assets between funds
Unrestricted
Restricted
2022
2022
£
£
Fund balances at 30 June 2022 are
represented by:
Tangible assets
30,281
-
Investments
100
-
Current assets/(liabilities)
85,541
15,720
115,922
15,720		 Total
2022
£
30,281
100
101,261
131,642		 Total
2021
£
52,865
100
138,498
191,463

21 Related party transactions

There were no disclosable related party transactions during the year (2021 - none).

22 Subsidiaries

Details of the charity's subsidiaries at 30 June 2022 are as follows:

Name of undertaking Registered Nature of business Class of % Held
office shares held Direct Indirect
ERT Catering Limited England & Wales Bar and cafe facilities Ordinary 100.00