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|||||Page|
|---|---|---|---|---|
|Trustees' report|||||
|Reference|and administrative||details||
|Structure,|governance|and management|||
|Objectives|and activities||||
|Review of|achievements|and|public benefit for the year|10|
|Financial<br>review and results for the year||||15|
|Reserves<br>policy||||17|
|Investment|policy|||17|
|Plans for future years||||18|
|Statement|ofTrustees'|responsibilities||20|
|Statement|ofdisclosure|to auditor||21|
|Auditors'<br>report||||22|
|Consolidated<br>statement<br>of financial|||activities|26|
|Charity statement|of financial|activities||27|
|Consolidated<br>and|charity balance sheets|||28|
|Consolidated<br>and|charity cash|flows||29|
|Notes to the financial<br>statements||||30|
|2021 Season||||45|





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|CONSOLIDATED|CONSOLIDATED|STATEIvIENT OF|STATEIvIENT OF|STATEIvIENT OF|STATEIvIENT OF|FINANCIAL|ACTIVITIES|ACTIVITIES|
|---|---|---|---|---|---|---|---|---|
|incorporating<br>the income|gt expenditure|||account|for the year|ended 31 December|2021||
||||||||2021|2020|
|||||Unrestricted||Restricted|Total|Total|
|Income and endowments|||from:|Note|6||||
|Voluntary<br>income|||||||||
|Donations,<br>legades<br>and|Friends'||subscriptions||18,044||18,044|58,271|
|Grants<br>receivable||||9|86,240||86,240|261,722|
|Charitable<br>activities|||||||||
|income from theatre||||1&6|||||
|Ninack productions||||2|471,004|471,004||125,635|
|Visiting companies||||2|360,289|360,289||143,383|
|Education<br>income||||6|768||768|400|
|Booking charges|||||69,813||69,813|27,643|
|Visitor admissions|||||754,246|754,246||366,799|
|Theatre<br>and Visitor catering|||||361,548|361,548||191,058|
||||||2,017,668|2,017,668||854,918|
|Other trad/ng<br>activities|||||||||
|Commercial<br>trading operations||||3|70,996||70,996|42,332|
|Investment<br>Income|||||137||137|3,888|
|Other|||||||||
|Profit on the sale of fixed assets|||||750||750||
|Total|||||2,193,835|2,|193,835|1,221,131|
|Expenditure<br>on:|||||||||
|Raising funds|||||||||
|Commerdal<br>trading operations|||||35,602||35,602|24,163|
|Charitable<br>octivities|||||||||
|I4inack productions||||2,5&6|326,842|326,842||85,241|
|Education<br>projects||||2,5&6|42,827||42,827|37,778|
|Operating<br>the Theatre|and Visitor|||1,5,6&7|1,372,801|1,372,801||1,370,436|
|Centre|||||1,742,470|1,742,470||1,493,455|
|Total|||||1,778,072|1,778,072||1,517,618|
|Net income/(expenditure)||||4|415,763|415,763||(296,487)|
|Transfers<br>between<br>funds|||||||||
|Net movement<br>in funds|||||415,763||415,763|(296,487)|
|Total funds<br>brought<br>forward|||||4,121,800|4, 121,800||4,4 I8,287|
|Total funds carried forward||||21|4,537,563|4,537,563||4,121,800|





## 

|incorporating<br>the income|&expe|nditure|account|far|the year|ended 3I|Dec|emb|er 202 I||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||2021|2020|
||||Unrestricted|||Restricted|||Total|Total|
|Income and endowments||from:|Note||E||E||||
|Voluntary<br>income|||||||||||
|Donations,<br>fegades<br>and|Friends'|subscriptions|||18,044||||18,044|58,271|
|Grants<br>receivable|||9||86,240||||86,240|261,722|
|Charitoble<br>activities|||||||||||
|Income from theatre|||||||||||
|Minack producdons|||||471,004||||471,004|125,635|
|Visiting companies|||||360,289||||360,289|143,383|
|Education<br>income|||||768||||768|400|
|Booking charges|||||69,813||||69,813|27,643|
|Visitor admissions|||||754,246||||754,246|366,799|
|Theatre<br>and Visitor catering|||||361,548||||361,548|191,058|
|||||2,017,668||||2,017,668||854,918|
|Other trading octivities|||||||||||
|Commerdal<br>trading operations|||||19,334||||19,334|16,117|
|Investment<br>income|||||12,774||||12,774|3,888|
|Other|||||||||||
|Profit on the sale of fixed assets|||||750||||750||
|Total||||2,154,810||||2,154,810||1,194,916|
|Expenditure<br>on:|||||||||||
|Raising funds|||||||||||
|Commercial<br>trading operations|||||||||||
|Choritable<br>octivities|||||||||||
|Minack productions|||2,5&6||326,842||||326,842|85,241|
|Educadon<br>projects|||1,2,5&6||42,827||||42,827|37,778|
|Operating<br>the Theatre|&Visitor|Centre|1,5,6&7|1,369,676||||1,369,676||1,368,086|
|||||1,739,345||||1,739,345||1,491,105|
|Total||||1,739,345||||1,739,345||1,491,105|
|Net income/(expenditure)||||415,465||||415,465||(296,189)|
|Transfers<br>between<br>funds|||||||||||
|Net movement<br>In funds||||415,465||||415,465||(296,189)|
|Total funds<br>brought<br>forward||||4,|122,098|||4,|122,098|4,418,287|
|Total funds carried forward|||21|4,537,563||||4,537,563||4,122,098|





## 

|at 31 Dece|mber 202 I|||||||
|---|---|---|---|---|---|---|---|
|||||The Group||The Charity||
|||||2021|2020|2021|2020|
|Fixed assets|||Note|||||
|Tangible assets|||10|2,254,831|2,351,301|2,254,831|2,351,301|
|Investments||||||2||
|||||2,254,831|2,351,301|2,254,833|2,351,302|
|Current assets||||||||
|Stocks|||1&12|28,711|30,834|11,879|10,863|
|Debtors|||13|101,608|99,911|134,245|119,911|
|Short term|deposits|||2,322,631|1,768,119|2,322,631|1,768,119|
|Cash<br>in hand|and at bank|||40,151|16,583|21,584|13,969|
|||||2,493, 101|1,915,447|2,490,339|1,912,862|
|Creditors||||||||
|Amounts<br>falling due within one year|||14|(210,369)|(144,948)|(207,609)|(142,066)|
|Net current assets||||2,282,732|1,770,499|2,282,730|1,770,796|
|Total assets less current||liabilities|16|4,537,563|4,121,800|4,537,563|4,122,098|
|Funds||||||||
|Unrestricted|Designated||1&21|1,650,000|1,350,000|1,650,000|1,350,000|
||Capital|reserve|1&21|2,254,831|2,351,301|2,254,831|2,351,301|
||General||1&21|632,732|420,499|632,732|420,797|
|Total funds|||21|4,537,563|4,121,800|4,537,563|4,122,098|





## 

|||||The|Group||The|Charity||
|---|---|---|---|---|---|---|---|---|---|
|||||2021||2020|2021||2020|
|||||E,|||E||E|
|Cash flow|from operating|activities||589,187|(302,457)||560,598|(301,325)||
|Cash flow|from investing|activities||||||||
|Investment|income|||137||3,888|12,774||3,888|
|Investment|In Mlnack Producdons||Ltd||||(I)|||
|Purchase of tangible<br>fixed assets||||(11,994)||(69,724)|(11,994)||(69,724)|
|Proceeds from disposal of tangible|||fixed assets|750|||750|||
|||||(11,107)||(65,836)|1,529||(65,836)|
|Net change<br>in cash and cash equivalents||||578,080|(368,293)||562,127|(367,161)||
|Cash and <br>the year|cash equivalents|at the start of||1,784,702|2,|152,995|1,782,088|2,|149,249|
|Cash and <br>year|cash equivalents|at the end ofthe||2,362,782|1,784,702||2,344,215|1,782,088||
|Reconciliation<br>ofnet income to cash||||flow from|operating<br>activities|||||
|||||The|Group||The|Charity||
|||||2021||2020|2021||2020|
|||||E||E|||E|
|Net income/(expenditure)<br>for the|||year|415,763|(296,487)||415,465|(296,189)||
|Adjusted<br>for.||||||||||
|Fixed asset|depredadon|||108,464||109,725|108,464||109,725|
|(Profit)/loss|on the sale of fixed assets|||(750)||800|(750)||800|
|Investment|income|||(137)||(3,888)|(12,774)||(3,888)|
|Movement|in stock|||2,123||3,735|(1,016)||1,968|
|Movement|in debtors|||(1,697)||(65,544)|(14,334)||(66,577)|
|Movement|In creditors|||65,421||(50,798)|65,543||(47,164)|
|Cash flow from operating|||activities|589,187|(302,457)||560,598|(301,325)||





## 

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## 



## 

|2.|Income f|rom t|hea|tre|||
|---|---|---|---|---|---|---|
|2. /|Income||||||
||||||2021|2020|
||||||6||
||Rental income due||to Minack Theatre Trust CIO||360,289|143,383|
||Minack production||income (see note 2.2)||471,004|125,635|
||||||831,293|269,018|
|2.2|Minock Productions||||||
||||||2021|2020|
||Minack producdon||income||366,874|78,986|
||Storytelling|income|||104,130|46,649|
||||||471,004|125,635|
||Minack production||expenditure||(302,172)|(60,117)|
||Storytelling|expenditure|||(24,670)|(25,124)|
||||||(326,842)|(85,241)|
||Net Minack|production||income|144,162|40,394|





## 

||||2021|2020|
|---|---|---|---|---|
||||E|E|
|Turnover|||70,996|42,332|
|Cost of sales|||(35,602)|(23,633)|
|Gross profit|||35,394|18,699|
|Administrative|costs and Interest|payable|(500)|(530)|
|Governance|||(2,625)|(2,350)|
|Net income from trading|||32,269|15,819|



|4.|Net incomel(expenditure)|in the year for the group||
|---|---|---|---|
||Stated after chargingl(crediting):|2021|2020|
|||E||
||Auditors'<br>remuneration<br>- audit|7,425|6,950|
||Depreciation|108,464|109,725|
||Profit on the sale of fixed assets|(750)||





## 

## 

|Cost ofoper|Cost ofoper|ati|ng t|he Thea|tre, Educa|tion<br>Progra|mme<br>gt V|isitor Centre||
|---|---|---|---|---|---|---|---|---|---|
|The Group||||||||2021|2020|
||||||Theatre|Educado n|Visitors|Total|Total|
||||||||6||6|
|Purchases|||||53,020||77,920|130,940|64,741|
|Wages|||||240,668|20,663|310,060|571,391|637,311|
|Salaries|||||50,973|21,177|41,638|113,788|138,706|
|Printing<br>and|stationery||||2,089|60|2,631|4,780|4,388|
|Promoting|the Theatre's|||activities|10,367|299|13,058|23,724|31,437|
|Repairs<br>and|maintenance||||48,148|1,389|60,642|110,179|143,890|
|Light, heat,|rates|and water|||7,074|204|8,909|16,187|14,025|
|Insurance|||||6,199|179|7,808|14,186|14,721|
|Motor and|travel||||679|20|854|1,553|956|
|Telephone|and postage||||1,510|44|1,902|3,456|8,182|
|Sanitadon|||||13,235|382|15,319|28,936|25,079|
|Miscellaneous|||||5,671|164|9,543|15,378|14,081|
|Bank charges|||||750||946|1,696|2,850|
|Credit &debit card|||charges||23,209||29,232|52,441|21,644|
|VAT (Unrecovered|||Input|Tax)|11,062||13,932|24,994|23,896|
|Depreciation|||||47,399|1,367|59,698|108,464|109,725|
|Loss on disposal||of fixed||assets|||||800|
||||||522,053|45,948|654,092|1,222,093|1,256,432|
|Management||fk administration||||||||
|Salaries|||||46,551|3,000|56,973|106,524|99,292|
|Professional|fees||||16,064|463|20,232|36,759|7,223|
|Trustee expenses|||||||||539|
|Governance|(note 7)||||3,452|100|3,873|7,425|6,950|
||||||66,067|3,563|81,078|150,708|114,004|
||||||588,120|49,511|735,170|1,372,801|1,370,436|





## 

## 

|The Charity|The Charity||||||2021|2020|
|---|---|---|---|---|---|---|---|---|
|||||Theatre|Education|Visitors|Total|Total|
|||||6||f||6|
|Purchases||||53,020||77,920|130,940|64,741|
|Wages||||240,668|20,663|310,060|571,391|637,311|
|Salaries||||50,973|21,177|41,638|113,788|138,706|
|Printing<br>and|stationery|||2,089|60|2,631|4,780|4,388|
|Promoting|the Theatre's||activities|10,367|299|13,058|23,724|31,437|
|Repairs<br>and|maintenance|||48,148|1,389|60,642|110,179|143,890|
|Light, heat,|rates and water|||7,074|204|8,909|16,187|14,025|
|Insurance||||6,199|179|7,808|14,186|14,721|
|Motor and|travel|||679|20|854|1,553|956|
|Telephone|and postage|||1,510|44|1,902|3,456|8,182|
|Sanitadon||||13,235|382|15,319|28,936|25,079|
|Miscellaneous||||5,671|164|9,543|15,378|14,081|
|Bank charges||||529||667|1,196|2,850|
|Credit &debit card||charges||23,209||29,232|52,441|21,644|
|VAT (Unrecovered||Input|Tax)|11,062||13,932|24,994|23,896|
|Depredation||||47,399|1,367|59,698|108,464|109,725|
|Loss on disposal of fixed|||assets|||||800|
|||||521,832|45,948|653,813|1,221,593|1,256,432|
|Management<br>& administration|||||||||
|Salaries||||46,551|3,000|56,973|106,524|99,292|
|Professional|fees|||16,064|463|20,232|36,759|7,223|
|Trustee expenses||||||||539|
|Governance|(note 7)|||2,097|61|2,642|4,800|4,600|
|||||64,712|3,524|79,847|148,083|111,654|
|||||586,544|49,472|733,660|1,369,676|1,368,086|





## 

|Net income by char|itable<br>acti|vity|||||
|---|---|---|---|---|---|---|
|The Group|||||2021|2020|
|||Theatre|Education|Visitors|Total|Total|
||Note|E|E||E||
|Direct income|2|831,293|768|754,246|1,586,307|636,217|
|Booking charges||30,508|880|38,425|69,813|27,643|
|Theatre<br>and Visitor catering||160,013||201,535|361,548|191,058|
|||1,021,814|1,648|994,206|2,017,668|854,918|
|Direct Expenditure|2|(3 15,699)|(42,827)|(11,143)|(369,669)|(123,019)|
|Charitable<br>Expenditure|5|(588,120)|(49,511)|(735,170)|(1,372,801)|(1,370,436)|
|||(903,819)|(92,338)|(746,313)|(1,742,470)|(1,493,455)|
|Net income/(expenditure)|by activity|117,995|(90,690)|247,893|275,198|(638,537)|
|The Charity|||||2021|2020|
|||Theatre|Education|Visitors|Total|Total|
||Note|E|E|E|E|L|
|Direct Income|2|831,293|768|754,246|1,586,307|636,217|
|Booking charges||30,508|880|38,425|69,813|27,643|
|Theatre<br>and Visitor catering||160,013||201,535|361,548|191,058|
|||1,021,814|1,648|994,206|2,017,668|854,918|
|Direct Expenditure|2|(315,699)|(42,827)|(11,143)|(369,669)|(123,019)|
|Charitable<br>Expenditure|5|(586,544)|(49,472)|(733,660)|(1,369,676)|(1,368,086)|
|||(902,243)|(92,299)|(744,803)|(1,739,345)|(1,491,105)|
|Net income/(expenditure)|by acdvity|119,571|(90,651)|249,403|278,323|(636,187)|



## 

|||The|Group||The|Charity||
|---|---|---|---|---|---|---|---|
|||2021||2020|2021||2020|
|||E||E.|E||E|
|Auditor's|remuneration|7,425||6,950|4,800||4,600|
|||7,425||6,950|4,800||4,600|





## 

||2021|2020|
|---|---|---|
||6|6|
|Wages and salaries|716,177|800,475|
|Social security costs|49,825|49,243|
|Pension costs|25,701|25,591|
||791,703|875,309|



## 

|||||2021|2020|
|---|---|---|---|---|---|
||||||6|
|Coronavirus|job|retention|scheme|61,490|234,722|
|Covid19 business||grant funding||24,750|27,000|
|||||86,240|261,722|





|(ihe Group ond|the Charity)|the Charity)|Land 8<br>Buildings|Fixtures<br>lk<br>Fittings|Total|
|---|---|---|---|---|---|
|Cost|||6||6|
|At Istlanuary|2021||2,847, 199|574,973|3,422,172|
|Addidons||||11,994|11,994|
|Disposais||||(55,618)|(55,618)|
|At 31st December||2021|2,847, 199|531,349|3,378,548|
|Depreciation||||||
|At 1stjanuary|2021||614,437|456,434|1,070,871|
|Disposais||||(55,618)|(55,618)|
|Charge for the|year||54,806|53,658|108,464|
|At 31st December||2021|669,243|454,474|1,123,717|
|Net book value||||||
|At 31stDecember 2021|||2,177,956|76,875|2,254,831|
|At 31st December||2020|2,232,762|118,539|2,351,301|





## 

|vestments|||||||
|---|---|---|---|---|---|---|
||||The Group||The Charity||
||||2021|2020|2021|2020|
|100%%u investment|in The Minack Theatre|Limited and|E|E|E|E|
|Minack productions<br>Limited, companies||incorporated|||||
|in England<br>and Wales|||||||
|At 31"December|2020 and 31"December 2021||||||



|||||||2021|2020|
|---|---|---|---|---|---|---|---|
|||||||E|E|
|Turnover||||||70,996|42,332|
|Cost of|sales and||administrative|expenses||(57,857)|(42,530)|
|Interest|payable|||||(204)|(100)|
|Amount|gifted|to|the charity|||(12,637)||
|Retained|In the|subsidiary||||298|(298)|
|Current|assets|and|liabilities of|the subsidiary|were:|||
|Current|assets|||||35,399|22,585|
|Creditors: amounts|||due within|one year||(35,398)|(22,882)|
|Total net|assets||||||(297)|
|Aggregate|share|capital and reserves|||||(297)|



## 




## 

||||The Group||The Charity||
|---|---|---|---|---|---|---|
||||2021|2020|2021|2020|
|||||E|E||
|Accrued|income|and prepayments|101,608|99,911|101,608|99,911|
|Amount|due from subsidiary||||32,637|20,000|
||||101,608|99,911|134,245|119,911|



## 

|Amounts|falling due|within<br>one y|ear|||||||
|---|---|---|---|---|---|---|---|---|---|
|||||The|Group||The|Charity||
|||||2021||2020|2021||2020|
|||||E||E|E||E|
|Trade creditors||||30,313||20,173|30,313||20,081|
|Taxadon|and social security|||14,384||1,760|14,384||1,520|
|Other creditors||||22,909||12,282|22,909||12,282|
|Amount|owed to Mlnack Productions||Limited|||||||
|Accruals|and deferred|income||142,763||110,733|140,002||108,183|
|||||210,369||144,948|207,609||142,066|



## 

|||||The|Group||The|Charity||
|---|---|---|---|---|---|---|---|---|---|
|||||2021||2020|2021||2020|
|||||E||E|||E|
|Brought|forward|||103,418||129,189|103,418||129,189|
|Amount|released|to|income|(28,489)||(80,230)|(28,489)||(80,230)|
|Amount|deferred|in|year|44,888||54,459|44,888||54,459|
|Carried|forward|||119,817||103,418|119,817||103,418|





|As at 3|<br>1n Decem|<br>ber 202|1||||
|---|---|---|---|---|---|---|
||||Unrestricted|Re st ricted|2021||
||||fund|fund|Total|2020|
||||E|E|E||
|Tangible|fixed assets||2,254,831||2,254,83 I|2,351,301|
|Net current assets|||2,282,732||2,282,732|1,770,499|
|At 31st|December|2021|4,537,563||4,537,563|4,121,800|



## 

|||||The Group||The Charity||
|---|---|---|---|---|---|---|---|
|||||2021|2020|2021|2020|
|Operating||leases commitments||E|E|E|E|
|Payable|within||one year|349|1,415|349|1,415|
|Payable|within||one to two years||349||349|
|||||349|1,764|349|1,764|



## 

## 

## 



## 

|The Group|||Bahnce at|Incoming|Resources|Transfers|Balance at<br>31 Dec|
|---|---|---|---|---|---|---|---|
||||I)an 2021|Resources|Expended||2021|
|Unrestricted||||||||
|Designated||||||||
|Winter|cash|outflow|150,000||||150,000|
|Losses|from|poor weather|300,000|||100,000|400,000|
|Unexpected||repairs|300,000|||200,000|500,000|
|Producdons||& education|600,000||(90,690)|90,690|600,000|
|Capital|reserve||2,351,301|||(96,470)|2,254,83 1|
|General|||420,499|2,193,835|(1,687,382)|(294,220)|632,732|
||||4,121,800|2,193,835|(1,778,072)||4,537,563|
|The Charity|||Balance at|Incoming|Resources|Transfers|Balance at<br>31 Dec|
||||I lan 2021|Resources|Expended||2021|
|Unrestricted||||||||
|Designated||||||||
|Winter|cash|outflow|150,000||||150,000|
|Losses|from|poor weather|300,000|||100,000|400,000|
|Unexpected||repairs|300,000|||200,000|500,000|
|Producdons||8 education|600,000||(90,651)|90,651|600,000|
|Capital|reserve||2,351,301|||(96,470)|2,254,83 1|
|General|||420,797|2,154,810|(1,648,694)|(294,181)|632,732|
||||4,122,098|2,154,810|(1,739,345)||4,537,563|





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