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2023-06-30-accounts

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 2023

72 Lairgate Beverley East Yorkshire United Kingdom HU17 8EU

EAST RIDING THEATRE LIMITED

CONTENTS

Page
Company information 1
Trustees' report 2 - 6
Independent examiner's report 7
Statement of financial activities 8
Balance sheet 9 - 10
Notes to the financial statements 11 - 22

EAST RIDING THEATRE LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Miss C H Wade Mr V Regan Ms A E Cooper Mrs H O Hughes Mr M A Loncaster (Appointed 6 January 2023) 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 72 Lairgate Beverley East Yorkshire United Kingdom HU17 8EU

EAST RIDING THEATRE LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 30 JUNE 2023

The trustees present their report and financial statements for the year ended 30 June 2023.

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

Following the pandemic the theatre did not operate at full capacity until the beginning of 2022. Audiences picked up in the second half of 2022. However in line with the national pattern audience numbers did not completely recover to pre-pandemic levels during the period June 2022 to June 2023.

Public benefit

The company continues to fulfil its public benefit obligations.

EAST RIDING THEATRE LIMITED

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

FOR THE YEAR ENDED 30 JUNE 2023

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.

EAST RIDING THEATRE LIMITED

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

FOR THE YEAR ENDED 30 JUNE 2023

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 two in-house shows: - Under Milk Wood ; and our Christmas production - A Dickens of a Christmas . Associate Companies – SHE productions are now an Associate Company staging shows for both adults and children. Our other Associate Company, Other Lives also contributes to outreach work.

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 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 2022/2013 ERT organised three summer schools for children and young adults.

Recognition - The theatre has continued go be a key centre for the performing arts in East Yorkshire. In December 2022 The Theatres Trust stated that - “East Riding Theatre has become a valued and important cultural and social asset for Beverley since it opened in 2014, operated by a charitable trust and primarily staffed by volunteers. It provides local people with access to theatre and the arts, offering opportunities for participation and engagement. It produces its own work and has a mixed programme of theatre, live music, comedy, poetry and other functions.”

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 after reopening and during this year, the Board determined that should it be necessary the Theatre would call on reserves to cover any essential spending. During 2022/23 the theatre was able to maintain funds of over £100,000 but they may reduce below this level in 2023/24. The trustees hope to rebuild reserves as audience confidence returns and 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.

EAST RIDING THEATRE LIMITED

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

FOR THE YEAR ENDED 30 JUNE 2023

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 2023 theatre activity had started to returned to pre-pandemic levels and the business is recovering well. Daytime operation of the café has picked up significantly and it’s profitability now exceeds pre-covid times.

East Riding of Yorkshire Council, who own the adjoining land on Lord Roberts Road, put the site up for sale. The subsequent planning application met with considerable opposition and is currently dormant.

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.

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:

Miss C H Wade

Mrs S Kirkman (Resigned 14 October 2022) Mr V Regan Ms A E Cooper Mr R Rawlings (Resigned 24 October 2022) Mr G B Tait (Resigned 13 September 2022) Ms L A Archer (Resigned 14 May 2023) Mr S R Parnaby (Resigned 14 April 2023) Mrs H O Hughes Mr M A Loncaster (Appointed 6 January 2023) Mr M R Welsh (Appointed 14 April 2023 and resigned 7 September 2023)

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 theatre manager, who in turn is supported by a mix of paid and volunteer staff.

EAST RIDING THEATRE LIMITED

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

FOR THE YEAR ENDED 30 JUNE 2023

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

This is the sixth 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.

Ms A E Cooper

Trustee Dated: 12 December 2023

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 2023.

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.

TC Group

72 Lairgate Beverley East Yorkshire HU17 8EU United Kingdom

Dated: 12 December 2023

EAST RIDING THEATRE LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 JUNE 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income and endowments from:
Donations and legacies
3
43,343
-
Charitable activities
4
258,471
25,179
Investments
5
2
-
Other income
6
3,174
-
Total income
304,990
25,179
Expenditure on:
Charitable activities
7
310,266
29,117
Net expenditure for the year/
Net movement in funds
(5,276)
(3,938)
Fund balances at 1 July 2022
115,922
15,720
Fund balances at 30 June 2023
110,646
11,782		 Total
2023
£
43,343
283,650
2
3,174
330,169
339,383
(9,214)
131,642
122,428		 Total
2022
£
17,927
253,655
3
8,273
279,858
339,679
(59,821)
191,463
131,642

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.

EAST RIDING THEATRE LIMITED

BALANCE SHEET

AS AT 30 JUNE 2023

Notes
Fixed assets
Tangible assets
10
Investments
11
Current assets
Stocks
12
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within
one year
15
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
16
Unrestricted funds
Designated funds
17
General unrestricted funds		 2023
£
260
16,334
136,579
153,173
(43,119)
-
110,646		 £
12,274
100
12,374
110,054
122,428
11,782
110,646
122,428		 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

EAST RIDING THEATRE LIMITED

BALANCE SHEET (CONTINUED)

AS AT 30 JUNE 2023

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 2023.

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 12 December 2023

Ms A E Cooper

Trustee

Company Registration No. 08092391

EAST RIDING THEATRE LIMITED

FOR THE YEAR ENDED 30 JUNE 2023

NOTES TO THE FINANCIAL STATEMENTS

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.

EAST RIDING THEATRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

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).

FOR THE YEAR ENDED 30 JUNE 2023

EAST RIDING THEATRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

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.

EAST RIDING THEATRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

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
2023 2022
£ £
Donations and gifts 43,343 17,927

EAST RIDING THEATRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

4 Charitable activities

Ticket sales
Ice cream
Performance related grants
Sponsorships
Merchandising
Analysis by fund
Unrestricted funds - general
Restricted funds
For the year ended 30 June 2022
Unrestricted funds - general
Restricted funds
Performance related grants
Arts Council
East Riding of Yorkshire Council
HEY Smile
Beverley Town Council
James Reckitt Foundation
Other		 Theatre
2023
£
245,937
6,703
22,179
8,799
32
283,650
258,471
25,179
283,650
220,924
32,731
253,655
-
20,179
-
-
2,000
-
22,179		 Theatre
2022
£
199,455
3,436
34,267
16,438
59
253,655
220,924
32,731
253,655
6,570
15,598
9,099
3,000
-
-
34,267

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

EAST RIDING THEATRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

5
Investments
Unrestricted
funds
general
2023
£
Interest receivable
2
6
Other income
Unrestricted
funds
general
2023
£
Sundry income
3,174
Programme sales
-
3,174		 Total
2022
£
3
Total
2022
£
8,060
213
8,273

EAST RIDING THEATRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

7 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
Analysis by fund
Unrestricted funds - general
Restricted funds
For the year ended 30 June 2022
Unrestricted funds - general
Restricted funds		 2023
£
66,002
18,008
7,211
6,363
11,236
(3,622)
900
9,302
804
2,786
38,361
12,075
12,653
122,354
1,682
4,477
4,725
24,066
339,383
339,383
310,266
29,117
339,383
315,918
23,761
339,679		 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
13,991
339,679
339,679
315,918
23,761
339,679

EAST RIDING THEATRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

8 Trustees

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

9 Employees

Number of employees

The average monthly number of employees during the year was:

Theatre and catering
Employment costs
Wages and salaries
Social security costs
Other pension costs
There were no employees whose annual remuneration was £60,000 or more.
Tangible fixed assets
Leasehold
improvements
Plant and
equipment
Fixtures and
fittings
£
£
£
Cost
At 1 July 2022
12,903
129,394
6,956
At 30 June 2023
12,903
129,394
6,956
Depreciation and impairment
At 1 July 2022
12,903
101,469
5,920
Depreciation charged in the year
-
16,111
1,036
At 30 June 2023
12,903
117,580
6,956
Carrying amount
At 30 June 2023
-
11,814
-
At 30 June 2022
(1)
27,925
1,037		 2023
Number
11
2023
£
59,688
5,322
992
66,002
Computers
£
4,152
4,152
2,831
861
3,692
460
1,320		 2022
Number
7
2022
£
74,334
904
892
76,130
Total
£
153,405
153,405
123,123
18,008
141,131
12,274
30,281

10 Tangible fixed assets

EAST RIDING THEATRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

11
Fixed asset investments
Cost or valuation
At 1 July 2022 & 30 June 2023
Carrying amount
At 30 June 2023
At 30 June 2022
Other investments comprise:
Notes
Investments in subsidiaries
20
12
Stocks
Stock on hand
13
Debtors
Amounts falling due within one year:
Trade debtors
Amounts owed by subsidiary undertakings
Prepayments and accrued income		 Other
investments
100
100
100
2023
2022
£
£
100
100
2023
2022
£
£
260
271
2023
2022
£
£
2,501
8,363
10,659
5,887
3,174
409
16,334
14,659		 Other
investments
100
100
100
2023
2022
£
£
100
100
2023
2022
£
£
260
271
2023
2022
£
£
2,501
8,363
10,659
5,887
3,174
409
16,334
14,659
100
100
2022
£
100
2022
£
271
2022
£
8,363
5,887
409
14,659

EAST RIDING THEATRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

14
Loans and overdrafts
Bank overdrafts
Payable within one year
15
Creditors: amounts falling due within one year
Notes
Bank overdrafts
14
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income		 2023
£
-
-
2023
£
-
2,587
3,548
36,984
-
43,119		 2022
£
162
162
2022
£
162
1,175
5,954
14,087
2,418
23,796

FOR THE YEAR ENDED 30 JUNE 2023

EAST RIDING THEATRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

16 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 2022 resources expended 30 June 2023
£ £ £ £
Scholarship fund 1,500 3,000 (1,700) 2,800
KickStart Fund - 1,044 (1,044) -
ERYC Warm Spaces - 4,988 (4,988) -
IAM Fund 8,488 - (8,488) -
ERYCC - Marketing Grant - 3,950 (1,350) 2,600
ERYCC - Volunteers Grant 2,732 (427) (2,305) -
Beverley Town Council - Partner grant 3,000 - (2,500) 500
Sir James Reckitt Foundation - 2,000 - 2,000
HAF Summer Grant - 10,624 (6,742) 3,882
15,720 25,179 (29,117) 11,782

Horncastle Family Foundation (formerly WA Horncastle Charitable settlement). Used to provide scholarships, by covering some of the Summer School costs.

The Kickstart fund was a government initiative to provide paid work experience for 6 months.

Warm Spaces - a grant awarded by East Riding of Yorkshire Council to organisations offering warm social spaces, and a range of refreshments and activities during the cold months in early 2023.

IAM Fund provided funding for our Summer School programme and was used in August 2022.

East Riding of Yorkshire provide an Arts grant to help with marketing costs.

East Riding of Yorkshire provided funds to support training and developments costs for our volunteers. The funds were to be spent in the first quarter of the year ending 30 June 2023. The (£427) Income represents a part repayment of the grant due to an underspend.

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.

Sir James Reckitt Charity have provided funding for core costs to support our ongoing in-house productions, maximise income generation, rebuild audiences and create new ones, Connect and engage with young people, and assist with our intergenerational volunteer programme. The funds are committed to a writing commission for our 2023 Christmas production. Two young people will be engaged in the production.

Holiday Activities Fund - DoE delivered via ERYC. This funds summer school activities for ages 7-11 and includes lunch.

FOR THE YEAR ENDED 30 JUNE 2023

EAST RIDING THEATRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

17 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 2022
£
32,212
32,212		 Transfers
Balance at
30 June 2023
£
£
(32,212)
-
(32,212)
-		 Transfers
Balance at
30 June 2023
£
£
(32,212)
-
(32,212)
-
-

East Riding Theatre produces its own shows and this carries a substantial risk. 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. No productions were planned within 4 months of 30 June 2023, so no reserve is required.

18 Analysis of net assets between funds

Analysis of net assets between funds
Unrestricted
Restricted
2023
2023
£
£
Fund balances at 30 June 2023 are
represented by:
Tangible assets
12,274
-
Investments
100
-
Current assets/(liabilities)
98,272
11,782
110,646
11,782		 Total
2023
£
12,274
100
110,054
122,428		 Total
2022
£
30,281
100
101,261
131,642

19 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).

20 Subsidiaries

Details of the charity's subsidiaries at 30 June 2023 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