##
|||||Page|
|---|---|---|---|---|
|Trustees'
report|||||
|Reference|and administrative||details||
|Structure,|governance
and management||||
|Objectives|and activities||||
|Review of|achievements|and|public benefit for the year||
|Financial
review and results for the year||||l3|
|Reserves
policy||||15|
|Investment|policy|||15|
|Plans for future years||||16|
|Statement|ofTrustees'|responsibilities||l8|
|Statement|of disclosure|to auditor||l9|
|Auditors'
report||||20|
|Consolidated
statement
offinancial|||activities|24|
|Charity statement|of financial|activities||25|
|Consolidated
and|charity balance sheets|||26|
|Consolidated
and|charity cash|flows||27|
|Notes to the financial statements||||28|
|2020 Season||||43|
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|CONSOLIDATED|CONSOLIDATED|STATEMENT OF|STATEMENT OF|STATEMENT OF|STATEMENT OF|FINANCIAL ACTIVITIES|FINANCIAL ACTIVITIES|FINANCIAL ACTIVITIES|
|---|---|---|---|---|---|---|---|---|
|incorporating
the income|8 expenditure|||account|for the year|ended 3I December 2020|||
||||||||2020|2019|
|||||Unrestricted||Restricted|Total|Total|
|Income and endowments|||from:|Note|6||6||
|Voluntary
income|||||||||
|Donadons,
legacies and|Friends'||subscriprions||58,271||58,271|48,833|
|Grants
receivable||||9|261,722||261,722||
|Charitable
activities|||||||||
|Income from theatre||||1&6|||||
|Minack producdons||||2|125,635||125,635|244,509|
|Visiting companies||||2|143,383||143,383|320,951|
|Education
income||||6|400||400|1,894|
|Booking charges|||||27,643||27,643|55,101|
|Visitor Centre admissions|||||366,799||366,799|742,379|
|Theatre
and Visitor Centre||catering|||191,058||191,058|562,842|
||||||854,918||854,918|1,927,676|
|Other trading activities|||||||||
|Commercial
trading operations|||||42,332||42,332|120,761|
|Investment
income|||||3,888||3,888|11,325|
|Other|||||||||
|Profit on the sale of fixed assets||||||||1,072|
|Total|||||1,221,131||1,221,131|2,109,667|
|Expenditure
on:|||||||||
|Raising funds|||||||||
|Commercial
trading operations|||||24,163||24,163|60,490|
|Charitable
activities|||||||||
|Minack productions||||2,5&6|85,241||85,241|233,364|
|Education projects||||2,5&6|37,778||37,778|81,123|
|Operadng
the Theatre|and Visitor|||1,5,6gi7|1,370,436||1,370,436|1,598,546|
|Centre|||||||||
||||||1,493,455||1,493,455|1,913,033|
|Total|||||1,517,618||1,517,618|1,973,523|
|Net (expenditure)/income||||4|(296,487)||(296,487)|136,144|
|Transfers
between
funds|||||||||
|Net movement
in funds|||||(296,487)||(296,487)|136,144|
|Total funds brought forward|||||4,418,287||4,418,287|4,282,143|
|Total funds canied forrvard||||21|4,121,800||4,121,800|4,418,287|
|CHARITY STATEIvIENT|CHARITY STATEIvIENT|CHARITY STATEIvIENT|OF|FINANCIAL ACTIVITIES|FINANCIAL ACTIVITIES|FINANCIAL ACTIVITIES|FINANCIAL ACTIVITIES||
|---|---|---|---|---|---|---|---|---|
|incorporating
theincome 4 expenditure|||account|for the year|ended 3/|December 2020|||
||||||||2020|2019|
||||Unrestricted||Restricted||Total|Total|
|Income and endowments|from:||Note|6||6|E||
|Voluntary
income|||||||||
|Donations,
legacies and Friends'||subscriptions||58,271|||58,271|48,833|
|Grants receivable|||9|261,722|||261,722||
|Charitable
activities|||||||||
|Intone from theatre|||||||||
|Minack producdons||||125,635|||125,635|244,509|
|Visidng companies||||143,383|||143,383|320,951|
|Educaion income||||400|||400|1,894|
|Booking charges||||27,643|||27,643|55,101|
|Visitor Centre admissions||||366,799|||366,799|742,379|
|Theatre
and Visitor Centre catering||||191,058|||191,058|562,842|
|||||854,918|||854,918|1,927,676|
|Other trading activities|||||||||
|Commercial
trading operations||||16,117|||16,117|38,720|
|Investment
income||||3,888|||3,888|30,376|
|Other|||||||||
|Profit on the sale offixed assets||||||||1,072|
|Total||||1,194,916|||1,194,916|2,046,677|
|Expenditure
on:|||||||||
|Raising fun*|||||||||
|Commercial
trading operadons|||||||||
|Charitable
activities|||||||||
|Minack productions|||2,5&6|85,241|||85,241|233,364|
|Education projects|||1,2,5&6|37,778|||37,778|81,123|
|Operating
the Theatre &Visitor||Centre|1,5,6&7|1,368,086|||1,368,086|1,596,046|
|||||1,491,105|||1,491,105|1,910,533|
|Total||||1,491,105|||1,491,105|1,910,533|
|Net (expenditure)/income|||4|(296,189)|||(296,189)|136,144|
|Transfers
between
funds|||||||||
|Net movement
in funds||||(296,189)|||(296,189)|136,144|
|Total funds
brought forward||||4,418,287|||4,418,287|4,282,143|
|Total funds canied forward|||21|4,122,098|||4,122,098|4,418,287|
##
|||||The Group|The Group|The|Charity|
|---|---|---|---|---|---|---|---|
|||||2020|2019|2020|2019|
|Fixed assets|||Note|6|6|6||
|Tangible assets|||10|2,351,301|2,392,102|2,351,301|2,392,102|
|Investments|||II|||I||
|||||2,351,301|2,392,102|2,351,302|2,392,103|
|Current assets||||||||
|Stocks|||1&12|30,834|34,569|10,863|12,831|
|Debtors|||13|99,911|34,367|119,911|53,334|
|Short term deposits||||1,768,119|2,113,376|1,768,119|2,113,376|
|Cash
in hand and at bank||||16,583|39,619|13,969|35,873|
|||||1,915,447|2,221,931|1,912,862|2,215,414|
|Creditors||||||||
|Amounts
falling due within one||year|14|(144,948)|(195,746)|(142,066)|(189,230)|
|Net current assets||||1,770,499|2,026,185|1,770,796|2,026,184|
|Total assets less current||liabilities|16|4,121,800|4,418,287|4,122,098|4,418,287|
|Funds||||||||
|Unrestr Icted|Designated||1&21|1,350,000|1,350,000|1,350,000|1,350,000|
||Capital|reserve|1&21|2,351,301|2,392,102|2,351,301|2,392,102|
||General||1&21|420,499|676,185|420,797|676,185|
|Total funds|||21|4,121,800|4,418,287|4,122,098|4,418,287|
##
|||||The Group|The Group|||The|Charity||
|---|---|---|---|---|---|---|---|---|---|---|
|||||2020|||2019|2020||2019|
|||||6||||6||6|
|Cash flow from operating||activities||(302,457)|276,997|||(301,325)||265,582|
|Cash flow frvrm investing||activities|||||||||
|Investment
income||||3,888|||11,325|3,888||30,376|
|Purchase of tangible
fixed assets||||(69,724)|(127,682)|||(69,724)|(I27,682)||
|Proceeds from disposal of|tangible fixed assets||||||1,072|||1,072|
|||||(65,836)|(I||I5,285)|(65,836)||(96,234)|
|Net change
in cash and|cash equivalents|||(368,293)||161,712||(367,161)||169,348|
|Cash and cash equivalents
the year||at|the start of|2,152,995|1,991,283|||2,149,249|1,979,901||
|Cash and cash equivalents
the year||at|the end of|1,784,702|2,|152,995||1,782,088|2,|149,249|
|Reconciliation ofnet||income to cash||flow from|operating
activities||||||
|||||The|Grtsup|||The|Charity||
|||||2020|||2019|2020||2019|
|||||it||||6|||
|Net (expenditure)/income|for the year|||(296,487)|||136,144|(296,189)||136,144|
|Adjusted for.|||||||||||
|Fixed asset depreciation||||109,725|||93,330|109,725||93,330|
|Loss/(profit)
on the sale offixed|||assets|800|||(1,072)|800||(1,072)|
|Investment
income||||(3,888)|||(11,325)|(3,888)||(30,376)|
|Movement
in stock||||3,735|||(14,466)|1,968||(7,423)|
|Movement
in debtors||||(65,544)|||6,867|(66,577)||11,426|
|Movement
in creditors||||(50,798)|||67,519|(47,164)||63,553|
|Cash flow from operating|||activities|(302,457)||276,997||(301,325)||265,582|
##
##
##
##
##
|2.1|income||||||
|---|---|---|---|---|---|---|
||||||2020|2019|
||||||6|6|
||Rental income due||to Minack Theatre Trust CIO||143,383|320,951|
||Minack production||income (see note 2.2)||125,635|244,509|
||||||269,018|565,460|
|2.2|I9(inock Productions||||||
||||||2020|2019|
||||||6||
||Minack production||income||78,986|183,473|
||Storytelling|income|||46,649|61,036|
||||||125,635|244,509|
||Minack producdon||expenditure||(60,117)|(212,270)|
||Storytelling|expenditure|||(25,124)|(21,094)|
||||||(85,241)|(233,364)|
||Net Minack|producdon||income|40,394|11,145|
##
||||2020|2019|
|---|---|---|---|---|
|||||E|
|Turnover|||42,332|120,761|
|Cost of sales|||(23,633)|(59,754)|
|Gross profit|||18,699|61,007|
|Administrative|costs and interest|payable|(530)|(736)|
|Governance|||(2,350)|(2,500)|
|Net income|from trading||15,819|57,771|
|4.|Net (expenditure)/income|in the year for the group||
|---|---|---|---|
||Stated after chargingl(crediting):|2020|2019|
||Auditors'
remuneration
-audit|6,950|6,950|
||Depredadon|109,725|93,330|
||Profit on the sale offixed assets||(1,072)|
##
##
|Cost ofoperati|Cost ofoperati|ng
|the Thea|tre, Educa|tion
Progr|amme
&V|isitor Centre||
|---|---|---|---|---|---|---|---|---|
|The Gmup|||||||2020|2019|
|||||Theatre|Education|Visitors|Total|Total|
|||||E||E|E||
|Purchases||||25,479||39,262|64,741|183,866|
|Wages||||246,077|12,033|379,201|637,311|636,886|
|Salaries||||47,571|17,829|73,306|138,706|120,534|
|Printing
and|stadonery|||1,727|21|2,640|4,388|13,050|
|Promoting|the Theatre's||activities|12,372|151|18,914|31,437|34,342|
|Repairs and|maintenance|||56,628|691|86,571|143,890|222,990|
|Light, heat,|rates and water|||5,520|67|8,438|14,025|22,157|
|Insurance||||5,793|72|8,856|14,721|16,066|
|Motor and|travel|||376|5|575|956|3,936|
|Telephone|and postage|||3,220|39|4,923|8,182|15,156|
|Sanitation||||9,870|120|15,089|25,079|34,767|
|Miscellaneous||||5,542|68|8,471|14,081|18,341|
|Bank charges||||1,122||1,728|2,850|4,509|
|Credit &debit card||charges||8,518||13,126|21,644|30,661|
|VAT (Unrecovered||Input|Tax)|9,404||14,492|23,896|34,972|
|Depreciation||||43,182|527|66,016|109,725|93,330|
|Loss on disposal of fixed|||assets|314|4|482|800||
|||||482,715|31,627|742,090|1,256,432|1,485,563|
|Management
gr administration|||||||||
|Salaries||||37,896|3,000|58,396|99,292|103,156|
|Professional|fees|||2,842|35|4,346|7,223|2,538|
|Trustee expenses||||213|3|323|539|339|
|Governance|(note 7)|||2,735|33|4,182|6,950|6,950|
|||||43,686|3,071|67,247|114,004|112,983|
|||||526,401|34,698|809,337|1,370,436|1,598,546|
##
##
|Cost ofoperati|Cost ofoperati|ng t|he Thea|tre, Educa|tion
Progra|mme
gt V|isitor Centre||
|---|---|---|---|---|---|---|---|---|
|The Charity|||||||2020|2019|
|||||Theatre|Education|Visitors|Total|Total|
||||||E||E|E|
|Purchases||||25,479||39,262|64,741|183,866|
|Wages||||246,077|12,033|379,201|637,311|636,886|
|Salaries||||47,571|17,829|73,306|138,706|120,534|
|Prindng
and|stationery|||1,727|21|2,640|4,388|13,050|
|Promoeng|the Theatre's||acdvides|12,372|151|18,914|31,437|34,342|
|Repairs and|maintenance|||56,628|691|86,571|143,890|222,990|
|Light, heat,|rates and water|||5,520|67|8,438|14,025|22,157|
|Insurance||||5,793|72|8,856|14,721|16,066|
|Motor and|travel|||376|5|575|956|3,936|
|Telephone|and postage|||3,220|39|4,923|8,182|15,156|
|S aniaad
on||||9,870|120|15,089|25,079|34,767|
|Miscellaneous||||5,542|68|8,471|14,081|18,341|
|Bank charges||||1,122||1,728|2,850|4,509|
|Credit &debit card||charges||8,518||13,126|21,644|30,661|
|VAT (Unrecovered||Input|Tax)|9,404||14,492|23,896|34,972|
|Depreciation||||43,182|527|66,016|109,725|93,330|
|Loss on disposal of fixed|||assets|314|4|482|800||
|||||482,715|31,627|742,090|1,256,432|1,485,563|
|Management
8c administration|||||||||
|Salaries||||37,896|3,000|58,396|99,292|103,156|
|Professional|fees|||2,842|35|4,346|7,223|2,538|
|Trustee expenses||||213|3|323|539|339|
|Governance|(note 7)|||1,810|22|2,768|4,600|4,450|
|||||42,761|3,060|65,833|111,654|110,483|
|||||525,476|34,687|807,923|1,368,086|1,596,046|
##
|Net income by cha|ritable
acti|vity|||||
|---|---|---|---|---|---|---|
|The Group|||||2020|2019|
|||Theatre|Education|Visitors|Total|Total|
||Note|E|||||
|Direct income|2|269,018|400|366,799|636,217|1,309,733|
|Booking charges||27,643|||27,643|55,101|
|Theatre
and Visitor Centre|catering|75,191||115,867|191,058|562,$42|
|||371,852|400|482,666|854,918|1,927,676|
|Direct Expenditure|2|(85,241)|(37,778)||(123,019)|(314,487)|
|Charitable
Expenditure|5|(526,401)|(34,698)|(809,337)|(1,370.436)|(1,598,546)|
|||(611,642)|P2,476)|(809,337)|(1,493,455)|(1,913,033)|
|Net (expenditure)/income|by activity|(239,790)|(72,076)|(326,671)|(638,537)|14,643|
|The Charity|||||2020|2019|
|||Theatre|Education|Visitors|Total|Total|
||Note||E|E|||
|Direct in«ome|2|269,018|400|366,799|636,217|1,309,733|
|Booking charges||27,643|||27,643|55,101|
|Theatre
and Visitor Centre|catering|75,191||115,867|191,058|562,842|
|||371,852|400|482,666|854,918|1,927,676|
|Direct Expenditure|2|(85,241)|(37,778)||(123,019)|(314,487)|
|Charitable
Expenditure|5|(525,476)|(34,687)|(807,923)|(1,368,086)|(1,596,046)|
|||(610,717)|(72,465)|(807,923)|(1.491,105)|(1,910,533)|
|Net (expenditure)/income|by activity|(238,865)|P2,065)|(325,257)|(636,187)|17,143|
##
|||The|Group||The|Charity||
|---|---|---|---|---|---|---|---|
|||2020||2019|2020||2019|
|||E||E|E||E|
|Auditor's|remuneration|6,950||6,950|4,600||4,450|
|||6,950||6,950|4,600||4,450|
##
||2020|2019|
|---|---|---|
|||6|
|Wages and salaries|800,475|783,803|
|Social security costs|49,243|51,725|
|Pension costs|25,591|25,048|
||875,309|860,576|
##
||||||2020|2019|
|---|---|---|---|---|---|---|
|||||||6|
|Coronavirus||job|retention|scheme|234,722||
|Covid|I9 business||grant funding||27,000||
||||||261,722||
|(the Group and|the Charity)|Land &
Buildings|Ftxtures &
Fittings|Total|
|---|---|---|---|---|
|Cost|||6||
|At 1stJanuary|2020|2,813,338|554,499|3,367,837|
|Addiuons||33,861|35,863|69,724|
|Disposals|||(15,389)|(15,389)|
|At 31stDecember 2020||2,847,199|574,973|3,422,172|
|Depreciation|||||
|At Istjanuary|2020|560,146|415,589|975,735|
|Disposals|||(14,589)|(14,589)|
|Charge for the|year|54,291|55,434|109,725|
|At 31stDecember 2020||614,437|456,434|1,070,871|
|Net book value|||||
|At31stDecember 2020||2,232,762|118,539|2,351,301|
|At 31stDecember 2019||2,253,192|138,910|2,392,102|
##
|vestments|||||||
|---|---|---|---|---|---|---|
||||The Group||The Charity||
||||2020|2019|2020|2019|
|IOOX investment|in The Mlnack|Theatre
Limited a|E||E|E|
|company
incorporated
in England||and Wales|||||
|At 31*' December|2019and 31"December 2020||||||
|A summ|ary
ofth|e trading|results ofThe Minac|k Theatre
Limi|ted
is shown|
|---|---|---|---|---|---|
|||||2020|2019|
|||||E|E|
|Turnover||||42,332|120,761|
|Cost of sales and administrative|||expenses|(42,630)|(101,710)|
|Interest|payable|||||
|Amount|gifted to the charity||||(19,051)|
|Retained|in the subsidiary|||(298)||
|Current|assets and|liabilities of|the subsidiary were:|||
|Current|assets|||22,585|25,567|
|Creditors: amounts||due within|one year|(22,882)|(25,566)|
|Total net assets||||(297)|I|
|Agy'egate|share capital and reserves|||(297)|I|
##
##
|||The Group||The Charity||
|---|---|---|---|---|---|
|||2020|2019|2020|2019|
|||E||6||
|Accrued|income and prepayments|99,911|34,367|99,911|34,283|
|Amount|due from subsidiary|||20,000|19,051|
|||99,911|34,367|119,911|53,334|
|Amount|s
falling du|e within one year|||||||
|---|---|---|---|---|---|---|---|---|
||||The|Group||The|Charity||
||||2020||2019|2020||2019|
||||6||6|E|||
|Trade creditors|||20,173||18,198|20,081||14,282|
|Taxadon|and sodal security||1,760||14,658|1,520||14.658|
|Other creditors|||12,282||25,994|12,282||25,994|
|Accruals|and deferred|income|110,733||136,896|108,183||134,296|
||||144,948||195,746|142,066||189,230|
|Deferred income|||||||||
||||The|Group||The|Charity||
||||2020||2019|2020||2019|
||||E||6|6||6|
|Brought|forward||129,189||83,109|129,189||83,109|
|Amount|released to income||(80,230)||(41,832)|(80,230)||(41,832)|
|Amount|deferred
in year||54,459||87,912|54,459||87,912|
|Carried|forward||103,418||129,189|103,418||129,189|
##
##
|
As at 31"December 202|0|||
|---|---|---|---|
||Unrestricted|Restricted|2020|
||fund|fund|Total|
||E|6||
|Tangible fixed assets|2,351,301||2,351,301|
|Net current assets|1,770,499||1,770,499|
|At 31stDecember 2020|4,121,800||4,121,800|
|||The Group||The Charity||
|---|---|---|---|---|---|
|||2020|2019|2020|2019|
|Operating
leases cornmitmenis||6||E||
|Payable|within one year|1,415|3,566|1,415|3,566|
|Payable|within one to two years|349|1,415|349|1,415|
|Payable|within two to five years||349||349|
|||1,764|5,330|1,764|5,330|
##
##
|The Group|||Balance at
I Jan 2020|Incoming
Resources|Resources
Expended|Transfers|Balance at
31 Dec
2020|
|---|---|---|---|---|---|---|---|
|Unrestricted||||||||
|Designated||||||||
|Winter cash|outflow||150,000||||150,000|
|Losses from|reduced|visitors|300,000||(300,000)|300,000|300,000|
|Unexpected|repairs||300,000||||300,000|
|Productions|&education||600,000||(37,778)|37,778|600,000|
|Capital reserve|||2,392,102|||(40,801)|2,351,301|
|General|||676,185|1,221,131|(I,179,840)|(296,977)|420,499|
||||4,418,287|1,221,131|(1,5 I 7,6 1 8)||4, 121,800|
|The Charity|||Balance at
Istian
2020|Incoming
Resources|Resources
Expended|Transfers|Balance at
31 Dec
2020|
||||6|||||
|Unresu icted||||||||
|Designated||||||||
|Winter cash|outAow||150,000||||150,000|
|Losses from|poor weather||300,000||(300,000)|300,000|300,000|
|Unexpected|repairs||300,000||||300,000|
|Productions|&educadon||600,000||(37,778)|37,778|600,000|
|Capital reserve|||2,392,102|||(40,801)|2,351,301|
|General|||676,185|1,194,916|(1,153,327)|(296,977)|420,797|
||||4,418,287|1,194,916|(1,491,105)||4,122,098|
##
##
##
##
##