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2022-03-31-accounts

ANNUAL REPORT and financial statements For the year ended 31 March 2022

Registered number: 11188407 Charity number: 1179882

THE MARLOWE TRUST ANNUAL REPORT and financial statements

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Contents

Reference and Administrative Details of the Charity, Trustees and Advisers 2
Chairman’s Report 3
Chief Executive’s Report 4
Review of The Year 5
Trustees' Report 26
Independent Auditors' Report 31
Consolidated Statement of Financial Activities 33
Consolidated Balance Sheet 35
Company Balance Sheet 36
Consolidated Statement of Cash Flows 37
Notes to the Financial Statements 38

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Reference and Administrative Details

For the year ended 31 March 2022

Trustees

Jonathan Church - Chair Lady Alison De Haan (Resigned 8 July 2022)# David Harrel - Vice Chair# Janice McGuinness (Resigned 30 September 2021) Clive Relf Guy Hollaway Kate Grieg Kathleen Dacre Abdur-Rehman Ismael Mia Matthew Norwell* Colin Carmichael (Appointed 1 August 2022)

# Developement Sub Comittee

* Finance Sub Comittee

Company Registered Number

11188407

Charity Registered Number 1179882

Registered Office

The Marlowe Theatre, The Friars, Canterbury, Kent, CT1 2AS

Company Secretary

Paul Turner

Chief Executive

Deborah Shaw

Senior Management Team

Deborah Shaw, Chief Executive Paula Gillespie Dickson, Chief Operating Officer Paul Turner, Chief Finance Officer

Independent Auditors

Azets Audit Services, Delandale House, 37 Old Dover Road, Canterbury, Kent, CT1 3JF

Bankers

Lloyds Bank plc, 49 High Street, Canterbury, Kent, CT1 2SE

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Chairman’s Re ort p

This has been a stand-out year for The Marlowe. Emerging from lockdown with a staff team reduced by a third, the remaining team has restructured, launched its new Business Plan, developed a People Plan to support and invest in the theatre workforce, entered a period of recruitment and training and has built its audiences back throughout the year with a quality programme.

The challenges of a volatile touring landscape and the long tail of Covid cannot be overestimated, but The Marlowe has emerged stronger and with great ambition. A final Cultural Recovery Fund grant of £1 million has allowed us to increase our resilience and add to our reserves.

Jonathan Church Chairman

The Marlowe’s reputation as both a key arts organisation in the region and a commercially astute and successful independent business has garnered national recognition. Being named UK Theatre of the Year 2022 at the Stage Awards was acknowledgement of our position in the vanguard of the post-Covid recovery.

I would like to thank Deborah, the Executive and staff team for their hard work and inspiration and my fellow Trustees for their invaluable advice and support.

Jonathan Church Chair Date 4 October 2022

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Chief Executive’s Re ort p

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Deborah Shaw
Chief Executive
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Whilst this was a recovery year for The Marlowe, the following pages are a testament to the huge range of activity undertaken to support our audiences, staff, regional artists and communities throughout this period and to plan for a future where The Marlowe is the engine house for the performing arts in the Kent, shaping the spirit of the region.

From the People Plan to capital projects; from our work with young people to the first year of our new residencies, The Marlowe has shifted its focus from its Emergency Business Plan to the launch of an ambitious new 5-year Business Plan which will see the organisation transformed into a producing as well as presenting theatre alongside the development of The Marlowe as the theatre version of a teaching hospital.

We have taken these early steps on our journey, and it is a source of great pride for the organisation that our work so far has been recognised through a raft of national and regional awards.

Canterbury College named us as ‘Employer of the Year’ for our work with them, particularly in providing work experience for their students throughout the year.

In January 2022 The Marlowe was named Theatre Of The Year at The Stage Awards, in recognition of our work with audiences, artists and marginalised communities, and our role in supporting the recovery of the performing arts sector.

And finally, the cherry on the top was to win ‘Pantomime of the Year’ for Jack and the Beanstalk, written and directed by Paul Hendy from our Kentbased co-production partner, Evolution Productions. A true labour of love.

The judging panel remarked that “(The Marlowe’s) output is extraordinary given it receives no public subsidy and relies on box office (and other) revenue for 99% of its income.”

Deborah Shaw Chief Executive Date 4 October 2022

We were named Best Theatre in Kent at the Muddy Stilettos Awards 2022 – particularly gratifying as it is decided by public vote.

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The Marlowe Theatre Cut-Outs, Created By Ben Dickson Photo by Richard Lea-Hair

Review of the year

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The Marlowe’s output is extraordinary given it receives no public subsidy and relies on box office revenue for 99% of its income.

JURY, THE STAGE AWARDS, THEATRE OF THE YEAR 2022

After 448 days of closure, The Marlowe reopened its main house to audiences on 8th June 2021 – one of the first theatres in the country to do so. Opening the national tour of Six - the Musical was a joyous occasion for audiences, performers and the Marlowe team, achieving a sell-out run attended by 14,236 people, over 24 performances in an auditorium with reduced seating due to social distancing.

It was an epic challenge to prepare the theatre and to open with a trained staff team at relatively short notice. Our operational and technical teams went all-out to achieve a smooth reopening, ensuring we were ready to present large scale technically complex productions from a standing start and that audiences felt welcomed and safe. Managers coped with being short staffed and with the demands of undertaking recruitment and training amid the UK’s recruitment crisis.

During the period of social distancing in the auditorium, Ben Dickson’s cut-outs of Kent figures were put to good use in filling unusable seats, much to the delight of audiences. Once social distancing regulations were lifted, hundreds of the cut-outs were sold to the public, as a piece of Marlowe history to take home and keep.

Marketing and comms kept up a continuous dialogue with audiences to restore confidence and bring them back. Numbers continued to build across the season, although we still had to deal with cancelled shows and last-minute replacements with consequently short sales periods. Marketing had to rely primarily on digital and targeted email communications, as there was not enough certainty to produce a full brochure in the early period of reopening.

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Happier people and a nicer atmosphere in the city.

SUMMER AT THE MARLOWE AUDIENCE MEMBER

In the summer we programmed a second iteration of Summer At The Marlowe as part of our SELEP-funded Catalyst for Culture initiative.

The free outdoor performance programme ran over four days in August, with music and food in the theatre’s courtyard and riverside grounds, enlivening the city centre and enticing visitors back even if they weren’t ready to return to indoor theatre yet. It was attended by 3,769 people and featured 54 performances from 65 artists, presented in collaboration with Applause Rural Touring and City Feast. Regional performers included included Dizzy O’Dare, Strong Lady Productions, Folkin Fusion, James Wilton Dance, Frolicked and City Sound Music. A series of Doorstop Duets by Matthew Bourne’s New Adventures performed in care home gardens, ensuring that vulnerable audiences didn’t miss out on the fun.

Our dance programme returned with Carlos Acosta’s On Before , bringing him to The Marlowe for the first time. Later in the year we presented his young Cuban company, Acosta Danza, as part of the post-pandemic revival of Dance Consortium touring of international work, followed by one of the finest contemporary dance companies in the world, Nederlands Dans Theater’s NDT2. Matthew Bourne’s New Adventures returned in the Spring with their hugely popular Nutcracker .

A shortened programming timeline and significantly reduced availability of commercial weekly touring shows meant the Programming team had to be flexible and creative. We relied on an eclectic range of one-nighters to boost the theatre’s offer, from a raft of great comedy – including Romesh Ranganathan and Jimmy Carr – to David Suchet’s one-man show and Strictly ’s Aljaz and Janette in Remembering The Oscars . We also took the opportunity to bring in strong mid-scale drama from a new generation, including English Touring Theatre’s Cat On A Hot Tin Roof , with award-winning young director Anthony Almeida’s visceral take on a Tennessee Williams classic. We partnered with the bravest commercial producers in the vanguard of helping the industry get back on its feet. Highlights included a brand new, pre-West End production of Bedknobs And Broomsticks and Singin’ In The Rain , which opened at The Marlowe as the first date of a national tour.

Audience confidence grew and in February 2022, The Lion, The Witch And The Wardrobe achieved 81% attendance over the half-term break.

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Folkin Fusion at Summer At The Marlowe
Photo by Tim Stubbings
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On Before: Carlos Acosta
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Overall, average annual attendance achieved 79.95% of capacity, with 256,553 seats sold.

256,553 AUDIENCE

79.95% AVERAGE ATTENDANCE

301 NUMBER OF NUMBER PERFORMANCES[55] OF SHOWS

Ammar Duffus & Chris Jared In The Lion, The Witch And The Wardrobe Photo by Brinkhoff-Moegenburg

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Ben Roddy & Duncan James In Jack And The Beanstalk Photo by Pamela Raith

Christmas Productions Jack And The Beanstalk

A celebration of friendship, love, inclusivity and respect... Jack And The Beanstalk is everything contemporary pantomime should be.

BRITISH THEATRE GUIDE

Co-produced by Evolution Productions and The Marlowe Theatre, Jack And The Beanstalk starred Duncan James, Joanne Clifton and Ben Roddy.

The production received 4 and 5 star reviews and was named Pantomime of the Year at the UK Pantomime Awards In January 2022.

Watched by 82,471 people, with an overall attendance of 81%, Jack And The Beanstalk saw audiences return to the theatre for their first pantomime in two years.

The production faced many challenges as cases of the Omicron variant started to rise throughout the run. Despite having numerous cast members off sick or testing positive for Covid, the production kept going and all 83 performances took place as planned. In all, there were 42 different iterations of the cast throughout the run, with cast rotations and last-minute understudies. The commitment by the cast, crew and creative team was beyond measure.

Streaming to our organisations

The panto (stream) was amazing, it helped get us all into the festive spirit. It created a sensory experience which our children could get involved in. Thank you from everyone at Demelza.

BETHANY HARRIS, SENIOR HEALTHCARE ASSISTANT, DEMELZA

Continuing the tradition begun with last year’s digital Panto, Jack And The Beanstalk was streamed to 40 care organisations where it was watched by 1,107 people in 33 residential care homes, 4 care homes for learning disability care, 2 hospices and 1 hospital children’s ward across Kent.

The production was filmed for streaming by locally based company Spark Film Production.

82,441

AUDIENCE FOR JACK AND THE BEANSTALK

1,107 CARE HOME AUDIENCE

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Brigitte Aphrodite, Naomi Morris In The Christmas Goblin Photo by Alex Brenner

The Christmas Goblin

Huge fun, full of heart, humanity and the Christmas spirit, really brilliant.

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AUDIENCE MEMBER

A second home-produced Christmas production was created for family audiences in the Studio. Margate based gig-theatre makers, Brigitte Aphrodite and Quiet Boy, were given space and time to develop a new theatre piece as part of Catalyst for Culture in early 2021. The resulting idea - The Christmas Goblin - was green lit for full production in The Marlowe Studio in the same year.

The production was devised as a fully integrated chilled performance, creating an accessible and relaxed theatre-going experience for young families.

Despite opening during the onset of a new wave of Covid, the production attracted audiences of over 1,000 people, 28% of whom were new to The Marlowe.

A modern-day retelling of the Greek myth of the Kallikantzaroi, The Christmas Goblin was directed by Laura Keefe (Associate Director of Wise Children), with a book by Brigitte Aphrodite and Lucy Thackeray and original songs by Brigitte Aphrodite and Quiet Boy.

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Singin’ In The Rain Photo by Manuel Harlan

Economic Im act p

The Marlowe’s ability to its doors was instrumental in the recovery of the city, which in the summer of 2020 was able to claim footfall 15% higher than the UK average.

RACHEL PILARD, CANTERBURY BID

I think as tourists it was another bonus about coming to visit. It has definitely led to us spending money on the High Street. SUMMER AT THE MARLOWE , AUDIENCE MEMBER

The Marlowe makes a significant impact on its local economy, generating income for businesses across the region through the visitors that it attracts to Canterbury and the money that it spends.

The re-opening of The Marlowe played an important role in Canterbury’s recovery from the pandemic, generating a regional economic impact of over £32million from the date of its reopening in June 2021 until the end of March 2022.

£32,539,081 TOTAL REGIONAL ECONOMIC IMPACT OF THE MARLOWE IN 2021/22

£11,739,853 INCOME GENERATED BY THE MARLOWE

£3,417,432 SPEND BY AUDIENCES VISITING THE MARLOWE

£631,465

MONEY SPENT BY TOURING COMPANIES IN THE LOCAL ECONOMY WHEN VISITING THE MARLOWE

£3,005,668 THE MARLOWE’S SPEND WITH LOCAL COMPANIES

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Resident & Associate Com anies p

The Marlowe’s Resident Companies are Glyndebourne Opera, The Philharmonia Orchestra and PROJEKT EUROPA.

In 2021/22 we worked with our Resident and Associate companies on a number of groundbreaking projects throughout the closure period and into the reopening season.

Matthew Bourne’s New Adventures and The RSC are Marlowe Associate Companies.

Let Your Hands Sing by PROJEKT EUROPA Photo by Hanna-Katrina Jedrosz

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Projekt Europa We Are The Stories Trilogy

I think being a resident company for the last year has been completely transformative for us as a company. There is no way we could have achieved what we achieved… if it hadn’t been for this residency.”

MARIA ABERG, ARTISTIC DIRECTOR, PROJEKT EUROPA

The first year of the PROJEKT EUROPA residency saw the company establish itself as a serious force in British theatre, creating radical and generous work for local and global audiences. The Marlowe supported three development projects with artists from different backgrounds who all shared a lived experience of migration, as part of its role in providing a home base for the company to originate, develop and produce work.

French-Canadian dance artist based in Bristol, and Agnieszka Blonska, a Polish theatre maker from Cornwall.

The three pieces were created with a combination of professional performers and community members and shared with audiences at an early development stage in September in The Marlowe Studio.

We Are The Stories was trilogy of work exploring the boundaries of co-creation, participation and performance by PROJEKT EUROPA’s Artistic Director Maria Aberg and two migrant theatre makers – Laila Diallo, a

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PROJEKT EUROPA performing In The Company Of Others
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New Adventures Cygnet School

I would like to learn new skills in performing and dancing… and make long lasting memories.

ADRIJUS, CYGNET SCHOOL MEMBER

In May, New Adventures launched Cygnet School, a new national dance training programme for young people (aged 12-21yrs) at The Marlowe. The dancers were selected from across the UK for their talent and potential and all were from diverse or low socio-economic backgrounds.

The announcement of the project gained national and regional media coverage, with an overall combined media reach of 6.6 million.

A programme of monthly workshops and a summer residency took place throughout the year and will culminate in a performance sharing in July 2022.

The second year of Cygnet School will include ring-fenced places for young talent from across the South East, with recruitment workshops taking place at The Marlowe and across the region.

Fabulous, it has built my confidence. The other dancers and young people are lovely.

ANDREW, CYGNET SCHOOL MEMBER

Members of Cygnet School Rehearsing in The Marlowe Studio Photo by David Oxberry

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Royal Shakespeare Company Shakespeare Nation

So it’s been beautiful for me. I just feel really proud to be on the stage. I really love acting and I wasn’t sure if I had it in me.

CHRISSY, SHAKESPEARE COMPANY MEMBER

The Marlowe’s partnership with the RSC creates projects that inspire a love of Shakespeare amongst young people and the community.

Shakespeare Nation

of The Comedy Of Errors . The Marlowe brought together a company of 11 people from the local community, many of whom had no previous acting experience. Our main partner was a charity called The Umbrella Centre, a local mental health charity based in Canterbury.

The year saw The Marlowe collaborate with the RSC on Shakespeare Nation, a community participation programme that engaged with people who have little or no previous experience of Shakespeare, either as audiences or performers.

The aim was to create a piece of theatre in response to the RSC’s main stage production

Led by Director Atri Banerjee, a professional creative team worked with the company to devise a production for performance in The Marlowe Studio. The resulting work, ERROR, ERROR, ERROR explored the errors, both big and small, that make up our lives, with the company members exploring their own lived experiences.

ERROR, ERROR, ERROR Photo by Matt Humphrey

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School Performance of Much Ado About Nothing: The Merry War Photo by Steve Gregson

Royal Shakespeare Company Associate Schools Festival

I was so excited, like as soon as I got on that stage I was amazed. I was just so happy in myself. BEAUX, 10YRS, WHITFIELD ASPEN SCHOOL

Part of our long-term partnership with the RSC includes the Associate Schools programme, where we work with 22 schools in areas of low cultural engagement from across Kent and Medway.

the RSC’s Regional Playmaking Festival. Schools worked over two terms to create their performance, with workshops taking place in schools and opportunities for teachers to undertake mentoring with professional directors.

The ambition of the Associate Schools programme is to transform experiences of Shakespeare and live theatre for young people. Alongside continuing professional development for teachers, the programme includes unique opportunities for students in performance, leadership and career development.

In March, our 22 Associate Schools performed on The Marlowe’s main stage in Much Ado About Nothing: The Merry War , as part of

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22 SCHOOLS TOOK PART

1,118

SCHOOL CHILDREN TOOK PART IN A WORKSHOP

291 SCHOOL CHILDREN PERFORMED ON STAGE

AUDIENCE[1,272]

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Glyndebourne Opera Pilot Participation Programme

We have children who have come from all over the world and having Glyndebourne come to the school, it really gave them a voice. SIMON HILLIER, TEACHER, PILGRIMS WAY PRIMARY SCHOOL

Glyndebourne returned to The Marlowe with a week of opera performances in November, with a programme that included Donizetti’s comic masterpiece Don Pasquale , John Cox’s acclaimed production of Stravinsky’s The Rake’s Progress and a performance of Handel’s The Messiah .

devising their own composition based around themes of migration. The project culminated in a performance in Canterbury Cathedral, where the young people sang the choral piece they had devised, along with selections from Handel’s The Messiah .

The pilot programme included the commissioning and development of glass human - a new opera exploring contemporary experiences of loneliness; a series of workshops called Good Company for people living with dementia; and a performance by young instrumentalists at the Gulbenkian Theatre, University of Kent as part of Pit Perfect, an artist development programme that gives newly graduated players professional performance experience.

In addition, The Marlowe collaborated with Glyndebourne on a number of pilot participation projects that were part of the Catalyst For Culture programme, funded by SELEP.

Sing With Glyndebourne began with a series of workshops in local schools, where young people worked with leading composer and conductor Howard Moody and the Glyndebourne Chorus and musicians on

The Sing With Glyndeboune Project At Canterbury Cathedral Photo by Richard Hubert Smith

125 SING WITH GLYNDEBOURNE PARTICIPANTS

98 PIT PERFECT PARTICIPANTS

30 GOOD COMPANY PARTICIPANTS

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The Marlowe Youth Com an p y

We are committed to developing the creative lives of young people in our region and The Marlowe Youth Company plays a key role in nurturing the skills and aspirations of the next generation.

The Marlowe Youth Company resumed inperson from mid-April, initially at a reduced capacity to comply with social distancing rules. Sessions quickly sold out, with members eager to return and reunite with friends.

Sessions began by asked participants to create their manifesto for the future, deciding what change they wanted to see in the world as they came out of lockdown.

While re-joining The Marlowe Youth Company represented a return to normality for participants, workshop practitioners found that some members had to deal with social anxieties caused by the experience of lockdown.

Membership of The Marlowe Youth Company has been diversified over the last year, through a number of targeted initiatives.

A bursary scheme, The Marlowe Award, has provided young people in financially challenging circumstances with support to join The Marlowe Youth Company. Young people from The Marlowe’s Associate Schools have been encouraged to join the Youth Company, providing new connections into the communities that surround them.

An increased social media presence around the activities of The Marlowe Youth Company (including the sharing of videos documenting projects) also helped to attract new members and raise its profile.

The Marlowe Youth Company took part in the National Theatre’s Connections project, with auditions initially taking place in September to create a company from existing members, aged 13-19yrs. The company chose to perform Remote by Stef Smith, a play that explores themes around protest and power.

Remote was performed to audiences in November, watched by 226 people in The Marlowe Studio. The production was then selected for performance in the Connections Regional Festival, to take place at The Marlowe in May 2022.

Youth Voice, a group that enables young people to influence the direction of The Marlowe and shape the spirit of their region, met throughout the year and saw participants get involved in forming plans for the redevelopment of The Marlowe Kit.

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The Marlowe Youth Company performing Remote
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109 YOUTH COMPANY MEMBERS

144 206 YOUTH COMPANY PLACES TAKEN UP SESSIONS OVER THE YEAR

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The Marlowe Kit: Ima inin The Future g g

It was such an amazing opportunity to really have our voices heard and really be part of a change, to make a difference to some place so special. ROSIE, 12YRS, MEMBER OF THE MARLOWE YOUTH COMPANY

Plans to transform The Marlowe Kit continued to be developed, with the long- term aim of restoring and reimagining this historic Grade 1 listed building into a state-of-the-art learning centre and free to access heritage experience.

To help shape plans for The Kit’s future, we consulted with the young people who use it currently and the communities that surround it.

The consultation culminated in an open day at The Kit in July called Imagining The Future , a live and interactive event that was created and led by The Marlowe Youth Company.

Imagining The Future was developed during Marlowe Youth Company sessions. Participants were asked to think about the future of The Kit, particularly in the wider

context of what they want from a postCovid world. The group thought about the relationship between the building’s past and future, deciding what should be cherished or changed. They were also inspired by poems commissioned from local young performance poets, the Roughcut Collective, in response to the building and its history.

The Youth Voice group also met with consultant architect Guy Hollaway and heritage consultant Sara Davidson, to share their ideas about The Kit’s future and learn about the building’s history.

Imagining The Future Open Day was attended by 112 people, giving stakeholders and the wider community the opportunity to join the conversation about the future of The Kit.

A scene From Imagining The Future Photo by David Oxberry

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Pioneerin Places: Westminister Event g

Plans for our development of The Marlowe Kit were shared at an event in Westminster in October, that was organised to mark the end of the NLHF-funded East Kent Pioneering Places project.

Pioneering Places saw cultural organisations in East Kent pilot new ways to encourage young people to shape the place where they live and engage with heritage. As well as The Marlowe, the other partners were Turner Contemporary, The Land Trust and Creative Folkestone.

The Marlowe’s project saw it pilot different ways to bring The Kit building back to life and encourage young people to engage with it, including an interactive exhibition, an escape room, school workshops, a monthly poetry slam and as the home of The Marlowe Youth Company.

The Westminster event saw the findings of the project shared with a range of Government and heritage stakeholders.

Two members of The Marlowe Youth Company, Grace Sheanon and Michael Hawkins, joined The Marlowe team in Westminster, talking to guests about their own experiences of being involved in the project at The Kit.

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Grace and Michael in Westminster
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Grace And Michael Meet Darren Henley, Chief Executive Of
Arts Council England
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Grace And Michael Meet Damian Collins MP
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Catal st For Culture y

The year saw the culmination of the Catalyst For Culture project led by The Marlowe and funded by SELEP.

Begun last year and working with project partners the Mercury Theatre in Colchester and Glyndebourne Opera in East Sussex, the project was a response to the challenges of the pandemic, to support young people, artists and audiences across the SELEP region.

Initiatives that were funded by the project included: 10 artist commissions to develop new work in the region; PROJECT EUROPA’s residency at The Marlowe; seed commissions; a new play by a local playwright produced at the Mercury Theatre; digital streaming of three Glyndebourne operas and The Marlowe’s digital pantomime; a programme of participatory work piloted by Glyndebourne; Summer at the Marlowe and the launch of New Adventures’ Cygnet School.

Cygnet School Photo by David Oxberry

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It has been a huge emotional support to be able to make work during these challenging times.

ARTIST

SELEP funding allowed us to offer a number of opportunities for artists in the region, providing vital support for freelancers during the Covid crisis.

Following an open call out across Kent, Essex and Sussex, ten artists were awarded a seed commission of £1,000 to develop new work. The artists were also given mentoring support and space to rehearse their work at The Marlowe or The Mercury Theatre.

The artists and companies supported by the commissions were: Esohe Uwadiae, Faith Prendergast, Jodie Cole, Karl Fagerlund Brekke, Quiet Boy, George Rennie, Henry Madd, Mark Smith, Blouse & Skirt!, Sharan Atwal, TalkShow and Sundeep Saini.

Kent based puppetry Half A String developed a new show for Christmas called Coming Home , which was shared with invited guests in The Marlowe Studio.

In partnership with Applause Rural Touring, The Marlowe supported Kent based, queer outdoor dance theatre maker, Joe Garbett, to develop a new dance piece called Get Lost .

Nicola Werenowska, an Essex based writer with links to both the Mercury Theatre and The Marlowe, was given support to develop an early-stage piece of new writing called Broken English that was inspired by Polish community experiences in the region.

Having space to really delve deep into our creation process has been hugely valuable.

JOE GARBETT, JOE GARBETT DANCE

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To evaluate the impact of Catalyst for Culture The Marlowe appointed Samina Zahir of Hybrid Consulting, to interview partners, artists and participants.

Findings showed that the project;

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Diversit y

The Marlowe is committed to opening access, being representative, and diversifying talent.

With the support of diversity consultant Samina Zahir, we have embedded principles of equality, diversity and inclusion into the strategies, priorities and actions in our Business Plan.

The Marlowe EDI Challenge Group has been set up, with members drawn from across the organisation, who meet regularly to challenge policy and practice and to ensure EDI are supported in meaningful ways across the organisation. The group has focused initially on recruitment practice and dissemination and representation in our digital and printed media - the results of which have been transformative.

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Everybody's Talking About Jamie
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Solar panels being installed on the roof of The Marlowe Photo by David Oxberry

Environmental Sustainabilit y

The Marlowe is committed to taking transformational action on climate change, by reducing the environmental impact of we do.

The Marlowe has been certified as a Creative Green organisation by the leading arts and environmental charity Julie’s Bicycle, acknowledging the work that has been undertaken to reduce our environmental impact.

In February, The Marlowe installed solar panels on its roof, funded by The Theatres Trust and the Wolfson Foundation. In the first two months of running the solar panels, they have generated over 8700kwh of energy, enough to power the whole building (on stage and FOH) for 12 performances.

Future plans that are being worked on include a new waste management contract that will help us move to zero landfill and the purchase of an electric van.

We know there is still much more we need to do and we have created a crossteam staff group called Team Green, to drive environmental change across our organisation.

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Our Peo le Plan p

The last year saw the development of The Marlowe’s People Plan, to support our vision and mission and values and respond to a prereturn staff survey which asked us to focus on creating a better work/life balance; routes for progression; training and reward.

The People Plan makes a clear statement about how we treat and value our team, to ensure that everyone can achieve their true potential.

The People Plan underpins our core values to be resilient, passionate, supportive, collaborative and diverse.

To improve staff communications, a staff video channel was launched in December. Named Marlowe TV, it hosts training videos for teams, streams of staff conference sessions and messages to staff from senior management. Teams have also been encouraged to make and share their own content, so to build a deeper understanding between departments.

In February, a staff conference took place where teams shared their plans for the year. The event also saw the first Marlowe staff awards, celebrating team successes and achievements over the last year.

A programme of training has been developed, to ensure that we have a high achieving and capable workforce who are equipped with the skills and knowledge to deliver our commitments.

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Trustees' Re ort p

For the year ended 31 March 2022

The Trustees present their annual report together with the audited financial statements of the group and the company for the year to 31 March 2022. The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) as amended by Update Bulletin 1 (effective 1 January 2015).

The Marlowe is Kent’s regional theatre. It has three spaces: the 1,160-seater theatre, 160-seater studio and a listed medieval building that houses an exhibition, an escape room, a dedicated schools programme and our regular creative classes and youth company.

As a presenting theatre, we attract some of the biggest musicals and drama productions, both pre and post West End. We have a series of resident companies who visit regularly, including Glyndebourne, Philharmonia Orchestra, Matthew Bourne’s New Adventures, the National Theatre and the Royal Shakespeare Company.

OBJECTIVES AND ACTIVITIES

a. Policies and objectives

The Marlowe’s vision is to be the best regional theatre in the country, playing a role on the national stage, creating experiences that inspire, enrich and entertain.

Our objectives are to:

Since the transfer to Trust status, The Marlowe has begun engaging its staff, stakeholders and audiences in a process of renewing its Vision, Mission and culture.

b. Strategies and activities for achieving objectives

We co-produce a much-loved annual pantomime (with Evolution Productions) attended by audiences of over 90,000 each year.

We are part of the RSC’s Associate Schools Programme (working with 22 local schools to deepen their understanding of Shakespeare through workshops and performance) and we host Connections, the NT’s annual festival of youth theatre. Our new Everyone’s Theatre initiative provides participation opportunities throughout the year, particularly for young people in areas of low cultural engagement. Every two years we bring our communities together with world-class artists to create a large-scale, site-specific production, using the landscape of Kent as our stage. We are a home for regional artists.

We occasionally commission and produce small-scale work and we provide rehearsal space and mentoring for emerging local companies. Our annual programme for writers and theatre-makers, provides workshops, showcases and dramaturgical support.

c. Public benefit statement

In setting the objectives and strategies above the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit.

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Trustees' Report (continued)

ACHIEVEMENTS AND PERFORMANCE

a. Review of activities

See the Chief Executive’s report and the Review Of The Year.

b. Fundraising activities/Income generation

Income generation is predominately achieved through the charitable activities of ticket sales, memberships, participation, trading subsidiary and donations along with project specific funding. 2020/21 Financial Year was profoundly impacted by COVID 19 pandemic, resulting in the Theatre unable to trade in its sustainable model, however in 2021/22 the Theatre was able to operate at 50% reduced capacity in June and up to mid-July. From this point on the Theatre reverted back to full capacity, however this meant that overall for the financial year number of performances and potential capacity was down by a 1/3. The Trust was in receipt of major funding from the Government Culture Recovery Fund (CRF), processed via Arts Council for England. The Trust was awarded £2,999,999, the maximum grant available, and this was recognised in full within the 2020/21 Financial Year and an additional £1,000,000 in 2021/22.

The Marlowe Trust Trading Limited traded at an operational loss due to the inability to open for most of the year and the major footfall of the Theatre being the main driver for the income generation in 2020/21 and was in receipt of an inter company loan from the Trading company to the value of £50,000.

However, in 2021/22 there was a return to operational profit and positive cash flow, meaning the inter company loan was also repaid.

Income to the value of £146,375 that was generated and allocated to a restricted reserve for the planned Murder in the Cathedral event planned to be held in Canterbury Cathedral in 2020 remains as a restricted reserve. This activity was scheduled for October 2020 but has now been delayed to the 2023/24 financial year due to the COVID 19 pandemic.

c. Investment policy and performance

Investments are treated as current assets due to the short-term nature of the deposits

placed on a monthly, quarterly or annual basis. The process to invest is delegated to the Director of Finance with a mixed investment strategy to allow efficient access to the funds when required and maximising return. During the 2021/22 financial year the Trust purchased 15 The Friars, a house which has now been granted planning permission for change of use to provide additional office space, a board room and staff area.

FINANCIAL REVIEW

Income / Expenditure

Due the COVID19 Pandemic the Income was restricted by the inability to operate to its usual financial model for the first four months of the financial year. The Trust was in receipt of Government support via the CRF, but also maximised the use of the Government CJRS for periods that the CRF did not cover, including for the support of Zero Hours and Casual staff, which further aided the swift reopening of the theatre.

Total income for 2021/22 was £11,760,014 (2021: £4,928,952) of which £266,386 was restricted. Total expenditure was £10,861,212 (2021: £4,387971) of which £266,386 was restricted.

Reserves

a. Going concern

After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.

b. Reserves policy

With this early stage of the Theatre transferring its governance to The Marlowe Trust, trustees have revised and set a target of building an unrestricted reserve in excess of £1.6 million which will cover operation running costs for a period of approximately six months.

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Trustees' Report (continued)

The Trust is also developing further reserves that are unrestricted but marking them as designated. These are from grants and legacies, and are earmarked for new projects and development of the Trust. The aim is to further grow these funds via it own revenue and performance now that the target of £1.6million has been reached.

Induction and training of new trustees is in development and will commence upon appointment.

d. Pay policy for senior staff

Trustees approve the remuneration of key management personal, benchmarking against similar roles within the industry.

As at 31 March 2022 unrestricted reserves stood at £1,622,760 (2021: £917,111).

As at 31 March 2022 restricted reserves stood at £146,374 (2021: £146,374).

As at 31 March 2022 designated reserves stood at £216,581 (2021: £23,427).

STRUCTURE, GOVERNANCE AND MANAGEMENT

a. Constitution

The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 5 February 2018.

The company is constituted under a Memorandum of Association dated 5 February 2018 and is a registered charity number 1179882.

b. Method of appointment or election of Trustees

The management of the company and the group is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association.

The trustees are required by the Articles of Association to serve for a period of 3 years. At the annual retirement meeting one third of the members of the board retire. A retiring member of the board is eligible for reappointment, provided they haven’t reached the end of their fixed term of 9 years. The trustees meet approximately five times a year and annual budget and all major strategic decisions.

c. Policies adopted for the induction and training of Trustees

The trustees appointed on the set up of the Trust all were trustees of other existing charities and brought a wide range of experience and skills to their roles.

e. Organisational structure and decision making

The Marlowe Trust Limited (Company Number 11188407) is limited by guarantee and does not have any share capital. It operates under the name of The Marlowe. It is governed by its Articles of Association dated 5th February 2018. The company is also a registered charity (Charity Registration Number 1179882).

The financial statements are prepared in accordance with the Charities Act 2011, the Companies Act 2006 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS) (effective 1st January 2015)

The Chief Executive is appointed by the trustees to manage the day to day operations of the group. To facilitate effective operations the Chief Executive and Executive Team have delegated authority within the terms of delegation approved by the Board, for all operational matters.

The key management personnel within the executive team include;

A further level of senior management form the Strategic Management Team along with the executive. This team comprises of;

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Trustees' Report (continued)

f. Risk management

The Trustees have assessed the major risks to which the company and the group is exposed, in particular those related to the operations and finances of the company and the group, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.

The key risks of the Trust which are reviewed by the board via sub committees and full board meetings are, the delivery of the vision and the mission post pandemic, failure to reach financial targets across the organisation and maintaining unrestricted to reserves to suitable levels for unexpected liabilities.

Plans for future periods

See the Chief Executive’s report on page 4.

Members' liability

The Members of the company and the group guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up.

Employee involvement and employment of the disabled

Employees have been consulted on issues of concern to them by means of regular consultative committee and staff meetings and have been kept informed on specific matters directly by management. The company and the group carries out exit interviews for all staff leaving the organisation and has adopted a procedure of upward feedback for senior management and the Trustees.

The company and the group has implemented a number of detailed policies in relation to all aspects of personnel matters including:

In accordance with the company and the group's Equal Opportunities Policy, the company and the group has long established fair employment practices in the recruitment, selection, retention and training of disabled staff.

Full details of these policies are available from the company and the group's offices.

Trustees' responsibilities statement

The Trustees (who are also directors of The Marlowe Trust for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company and the group's transactions and disclose with reasonable accuracy at any time the financial position of the charitable group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:

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Trustees' Report (continued)

charitable group's auditors are unaware, and

Auditors

Azets Audit Services, have indicated their willingness to continue in office. The designated Trustees will propose a motion re-appointing the auditors at a meeting of the Trustees.

This report was approved by the Trustees, on 4 October 2022 and signed on their behalf by:

Jonathan Church

Chair

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Independent Auditors’ Report To The Members Of The Marlowe Trust

Opinion

We have audited the financial statements of The Marlowe Trust (the 'parent charity') and its subsidiaries (the 'group') for the year ended 31 March 2022. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

Other information

The Trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Auditors' Report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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Independent Auditors’ Report To The Members Of The Marlowe Trust To Update

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report including the Group Strategic Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the

group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

John Howard FCA (Senior Statutory Auditor) for and on behalf of Azets Audit Services Statutory Auditor Delandale House, 37 Old Dover Road, Canterbury, Kent CT1 3JF Date: 4 October 2022

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Consolidated Statement of Financial Activities (Incorporating Income and Expenditure Account) For the year ended 31 March 2022

----- Start of picture text -----
Unrestricted Restricted Total
funds funds funds
----- End of picture text -----
Income from:
Donations and legacies
Charitable activities
Other trading activities:
Fundraising
Trading activities
Investments:
Bank interest receivable
Other income		 Note
2
3
4		 2022
£
1,383,279
8,926,167
28,200
905,846
2,044
248,092		 2022
£
-
266,386
-
-
-
-		 2022
£
1,383,279
9,192,553
28,200
905,846
2,044
248,092		 2021
£
3,350,623
203,555
5,875
5,086
3,389
1,360,424
Total income
Expenditure on:		 11,493,628 266,386 11,760,014 4,928,952
Raising funds:
Fundraising trading
Charitable activities		 775,486
9,819,339		 -
266,386		 775,486
10,085,725		 45,199
4,342,772
Total expenditure 5 10,594,825 266,386 10,861,211 4,387,971
Net movement in funds
Reconciliation of funds:
Total funds brought forward		 898,803
940,538		 -
146,374		 898,803
1,086,912		 540,981
545,931
Total funds carried forward 1,839,341 146,374 1,985,715 1,086,912

The notes on pages 38-49 to form part of these financial statements.

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Comparitive Consolidated Statement of Financial Activities (Incorporating Income and Expenditure Account) For the year ended 31 March 2021

----- Start of picture text -----
Unrestricted Restricted Total
funds funds funds
----- End of picture text -----
Income from:
Donations and legacies
Charitable activities
Other trading activities:
Fundraising
Trading activities
Investments:
Bank interest receivable
Other income		 Note
2
3
4		 2021
£
3,350,623
154,055
5,875
5,086
3,389
1,360,424		 2021
£
-
49,500
-
-
-
-		 2021
£
3,350,623
203,555
5,875
5,086
3,389
1,360,424
Total income
4,879,452
49,500
4,928,952
Expenditure on:
Raising funds:
Fundraising trading
Charitable activities		 45,199
4,293,272		 -
49,500		 45,199
4,342,772
Total expenditure
5
4,338,471
49,500
4,387,971
Net movement in funds
Reconciliation of funds:
Total funds brought forward		 540,981
399,557		 -
146,374		 540,981
545,931
Total funds carried forward
940,538
146,374
1,086,912

The notes on pages 38-49 to form part of these financial statements.

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Page 35

Consolidated Balance Sheet As at 31 March 2022

----- Start of picture text -----
2022 2022 2021 2021
----- End of picture text -----
Fixed assets
Tangible assets
Current assets
Investments - 95 day notice account
Stocks
Debtors
Cash at bank and in hand		 Note
11
12
13		 £
2,000,000
17,910
673,344
6,480,538		 £
918,464		 £
2,000,000
11,198
572,096
4,289,602		 £
169,558
9,171,792 6,872,896
Creditors: amounts falling due within
one year
Net current assets
Creditors: amounts falling due within
one year
Net assets
Charity Funds
Restricted funds
Unrestricted funds:
Designated funds
General unrestricted fund		 14
15
20
21		 (8,104,541) 1,067,251
-		 (4,035,158) 2,837,738
(1,920,384)
1,985,715 1,086,912
146,374
216,581
1,622,760		 146,374
23,427
917,111
Total funds
22		 1,985,715 1,086,912

The financial statements were approved and authorised for issue by the Trustees on 4/10/2022 and signed on their behalf by:

Jonathan Church

Chair

The notes on pages 38-49 to form part of these financial statements.

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Company Balance Sheet As at 31 March 2022

----- Start of picture text -----
2022 2022 2021 2021
----- End of picture text -----
Fixed assets
Tangible assets
Investments		 Note
11
12		 £ £
859,217
1		 £ £
138,726
1
138,727
859,218
Current assets
Investments - 95 day notice account
Debtors
Cash at bank and in hand		 14 2,000,000
717,966
6,328,059		 -
619,834
6,276,079
9,046,025 6,895,913
Creditors: amounts falling due within
one year
Net current assets
Creditors: amounts falling due within
one year
Net assets
Charity Funds
Restricted funds
Designated funds
Unrestricted funds		 15
15
20		 (8,029,287) 1,016,738
-		 (4,014,022) 2,881,891
(1,920,384)
1,875,956 1,100,234
146,374
216,581
1,513,001		 146,374
23,427
930,433
Total funds 1,875,956 1,100,234

The financial statements were approved and authorised for issue by the Trustees on 4/10/2022 and signed on their behalf by:

Jonathan Church Chair

The notes on pages 38-49 to form part of these financial statements.

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Consolidated Statement of Cash Flows

----- Start of picture text -----
2022 2022 2021 2021
----- End of picture text -----
Cash fows from operating activities
Net income for the year (as per Statement of
Financial Activitie)
Adjustment for:
Depreciation charges
Loss on dispsoal of tangible fxed assets
(Increase) / Decrease in stocks
(Increase) / Decrease in debtors
Increase/ (Decrease) in creditors
Increase in deferred income
Net cash provided by operating activities
Cash fows from investing activities:
Purchase of tangible fxed assets
Net cash used in investing activities
Change in cash and cash equivalents in the
period
Cash and cash equivalents brought forward
Cash and cash equivalents carried forward
Cash and cash equivalents
Investments - 95 day notice account
Cash at bank and in hand		 £
50,454
1,888
(6,712)
(101,248)
754,234
1,394,765		 £
898,803
2,093,381		 £
28,502
16,838
1,293,023
(1,736,067)
517,754		 £
540,981
120,050
(801,248) (52,950)
2,992,184
(801,248)		 661,031
(52,950)
2,190,936 608,081
6,289,602 5,681,521
8,480,538 6,289,602
2,000,000
6,480,538		 2,000,000
4,289,602
8,480,538 6,289,602

The notes on pages 38-49 to form part of these financial statements.

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Notes To The Financial Statements

For the year ended 31 March 2022

1 Accounting Policies

Company Information

The Marlowe Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is The Marlowe Theatre, The Friars, Canterbury, Kent, United Kingdom, CT1 2AS.

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with 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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Marlowe Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The Statement of Financial Activities (SOFA) and Balance Sheet consolidate the financial statements of the company and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.

No separate SOFA has been presented for the company alone as permitted by section 408 of the Companies Act 2006.

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

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 Company status

The company is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.

1.4 Income

All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Income for productions is recorded in the statement of financial activities and the time of completion to ensure accurate recording. This reduces the risk of overstating the financial outturn.

For legacies, entitlement is taken as the earlier of the date on which either: the company is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the company has been notified of the executor's intention to make a distribution. Where legacies have been notified to the company, or the company is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

Donated services or facilities are recognised when the company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the company of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the

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Notes To The Financial Statements (continued)

general volunteer time of the Friends is not recognised and refer to the Trustees' Report for more information about their contribution.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the company which is the amount the company would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Support costs are those costs incurred directly in support of expenditure on the objects of the company and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.

1.7 Basis of consolidation

The financial statements consolidate the accounts of The Marlowe Trust and all of its subsidiary undertakings ('subsidiaries').

The company has taken advantage of the exemption contained within section 408 of the Companies Act 2006 not to present its own Income and Expenditure Account.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

1.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank.

1.6 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

The income and expenditure account for the period dealt with in the accounts of the company was £410,781.

1.8 Tangible fixed assets and depreciation

All assets costing more than £500 are capitalised.

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of Financial Activities.

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.

1.9 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently

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Notes To The Financial Statements (continued)

measured at fair value at the Balance Sheet date, unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading ‘Gains/(losses) on investments’ in the Statement of Financial Activities.

Investments in subsidiaries are valued at cost less provision for impairment.

1.14 Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.15 Pensions

1.10 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

1.11 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.12 Cash at Bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.13 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the period.

1.16 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

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Page 41

Notes To The Financial Statements For the year ended 31 March 2022

2.
Income from donations and
legacies
Unrestricted
funds
Restricted
funds
Total funds
Total funds		 2.
Income from donations and
legacies
Unrestricted
funds
Restricted
funds
Total funds
Total funds		 2.
Income from donations and
legacies
Unrestricted
funds
Restricted
funds
Total funds
Total funds		 2.
Income from donations and
legacies
Unrestricted
funds
Restricted
funds
Total funds
Total funds		 2.
Income from donations and
legacies
Unrestricted
funds
Restricted
funds
Total funds
Total funds		 2.
Income from donations and
legacies
Unrestricted
funds
Restricted
funds
Total funds
Total funds
Donations
Unconditional Grants		 2022
£
133,126
1,250,153		 2022
£
-
-		 2022
£
133,126
1,250,153		 2021
£
353,357
3,046,766
Total
1,383,279
-
1,383,279
3,350,623
3.
Income from charitable
activities
Unrestricted
funds
Restricted
funds
Total funds
Total funds
Income from Theatre
Productions
Grants		 2022
£
8,926,167		 2022
£
-
266,386		 2022
£
8,926,167
266,386		 2021
£
154,055
49,500
Total
8,926,167
266,386
9,192,553
203,555
4.
Fundraising income
Unrestricted
funds
Restricted
funds
Total funds
Total funds
2022
£		 2022
£		 2022
£		 2021
£
Sponsorship, Advertising and
Business Membership
28,200
-
28,200
5,875
5.
Direct costs
Staf costs
Direct costs
Support
costs
Total
2021
Cost of raising funds
Charitable activities:
Delivery of the arts		 £
316,987
2,494,048		 £
398,477
6,419,231		 £
60,022
1,172,446		 £
775,486
10,085,725		 £
45,199
4,342,772
2,811,035
6,817,708
1,232,468
10,861,211
4,387,971

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Notes To The Financial Statements For the year ended 31 March 2022

----- Start of picture text -----
6. Support costs 2022 2021
----- End of picture text -----
Staf training
Insurance
Consultancy
Repairs and building
maintenance
Computer and telephone costs
Light, heat and other building
costs
Travel and subsistence
Bank charges
Equipment and materials
Legal and professional fees
EKS service charges
Publications and hospitality
Licenses and subscriptions
Irrecoverable VAT
Accountancy fees
Agency
Administrative expenses of
fundraising
Depreciation
Governance costs:
Auditors remuneration
Auditors remuneration - over
provision in prior year
Legal fees
Grant Audit		 £
50,305
138,976
67,832
123,031
66,330
306,402
20,345
11,810
14,781
15,259
49,561
11,552
60,771
141,975
2,750
42,155
60,022
40,329
9,000
(2,500)
782
1,000		 £
3,381
57,575
97,165
20,220
22,113
100,870
8,687
25,823
14,754
15,324
135,680
152
41,982
68,398
3,100
-
14,947
24,975
9,000
-
-
2,150
1,232,468
666,296

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Page 43

Notes To The Financial Statements For the year ended 31 March 2022

7. Turnover

The whole of the turnover is attributable to Theatre productions.

All turnover arose within the United Kingdom.

----- Start of picture text -----
8. Net income/(expenditure) 2022 2021
----- End of picture text -----

8.
Net income/(expenditure)		 2022
2021		 2022
2021
This is stated after charging:
Depreciation of tangible fxed assets:
- owned by the charitable group
Auditors’ remuneration - audit		 £
£
40,328 24,975
9,000 9,000

During the period, no Trustees received any remuneration. (2021-none)

During the period, no Trustees received any reimbursement of expenses. (2021none)

9. Staff costs

Staf costs were as follows:
Wages and salaries
Social security costs
Other pension costs		 2022
£
2,343,678
180,870
286,487		 2021
£
2,342,664
162,176
339,160
2,811,035
2,844,000
The average number of persons employed by the company
during the period was as follows:		 No. No.
Total staf
136
164

The number of employees whose emoluments as defined for taxation purposes, amounted to over £60,000 in the year were as follows:

£60,000 to £69,999
£70,000 to £79,999
£90,000 to £99,999
£100,000 to £109,999		 No.
1
1
-
1		 No.
1
1
1
-
3
3

During the year key Management personnel received remunerations of £279,192 (2021 - £290,776).

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Notes To The Financial Statements For the year ended 31 March 2022

----- Start of picture text -----
10. Tangible fixed assets Land and Leasehold Computer Theatre Total
Buildings improvements equipment equipment
----- End of picture text -----
Group
Cost
Brought forward
Additions
Disposals		 £
-
567,374
-		 £
12,599
125,887
-		 £
82,793
33,203
(4,509)		 £
117,316
74,784
-		 £
212,708
801,248
(4,509)
As at 31 March 2022
Depreciation
Brought forward
Charge for the period
Disposals		 567,374
-
-
-		 138,486
105
6,454
-		 111,487
25,060
21,402
(2,621)		 192,100
17,985
22,598
-		 1,009,447
43,150
50,454
(2,621)
As at 31 March 2022 - 6,559 43,841 40,583 90,983
Net book value As at 31 March
2022
567,374
131,927
67,646
151,517
918,464
As at 31 March 2021
-
12,494
57,733
99,331
169,558
Land and
Buildings
Leasehold
improvements
Computer
equipment
Theatre
equipment
Total
Company
Cost
Brought forward
Additions		 £
-
567,374		 £
12,599
125,887		 £
82,359
33,203		 £
82,118
36,243		 £
177,076
762,707
As at 31 March 2022
Depreciation
Brought forward
Charge for the period		 567,374
-
-		 138,486
105
6,454		 111,053
24,835
21,292		 118,361
13,410
12,582		 935,274
38,350
40,328
As at 31 March 2022 - 6,559 43,506 25,992 76,057
Net book value As at 31 March
2022
567,374
131,927
67,547
92,369
859,217
As at 31 March 2021
-
12,494
57,524
68,708
138,726

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Page 45

Notes To The Financial Statements For the year ended 31 March 2022

11. Fixed asset investments

Shares in group undertakings Company £ Market value As at 1 April 2021 and 31 March 2022 1 All the fixed asset investments are held in the UK.

12.
Stocks		 Group Company Group Company
Finished goods and goods for resale 2022
£
17,910		 2022
£
-		 2021
£
11,198		 2021
£
-
13.
Debtors		 Group Company Group Company
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income		 2022
£
24,983
-
570,885
77,476		 2022
£
70,216
-
570,885
76,865		 2021
£
53,084
-
470,381
48,631		 2021
£
53,084
50,000
470,381
46,369
673,344 717,966 572,096 619,834

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Notes To The Financial Statements For the year ended 31 March 2022

----- Start of picture text -----
14. Creditors: Amounts falling due Group Company Group Company
within one year
----- End of picture text -----
Trade creditors
Other taxation and social
security
Other creditors
Accruals and deferred income		 2022
£
129,377
91,921
1,620,461
6,262,782		 2022
£
101,302
91,921
1,573,282
6,262,782		 2021
£
98,234
43,454
945,837
2,947,633		 2021
£
100,811
43,454
922,124
2,947,633
8,104,541
8,029,287
4,035,158
4,014,022
Creditors: Amounts falling due after one year Group
2022
£		 Company
2022
£		 Group
2021
£		 Company
2021
£
Accruals and deferred income
-
-
1,920,384
1,920,384

15. Pension commitments

The group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £286,487 (2021 - £339,160). Contributions totalling £nil (2021 - £nil) were payable to the fund at the balance sheet date.

At the point of transfer the Charity was granted entry in to the Local Government Pension Scheme as an Admitted Body, adopting the process of being closed to new entrants after transfer date.

On termination of the Admission Agreement or on the Charity no longer having any Eligible Employees actively contributing to the Fund, the Council shall:

• procure that the Administering Authority transfers all of the Fund’s assets and liabilities relating to the Eligible Employees (including for the avoidance of doubt any deferred or pensioner members of the Fund) from the Charity back to the Council and the Charity shall not be liable to settle any costs, expenses or liabilities arising at the date of termination of the Admission Agreement or the date the Charity no longer has any Eligible Employees actively contributing to the Fund;

• and the Council shall procure that the Charity shall be discharged from all and any future liabilities to the Fund.

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Page 47

Notes To The Financial Statements For the year ended 31 March 2022

16. Operating lease commitments

At 31 March 2022 the total of the future minimum lease payments under non-cancellable operating leases was:

Group and Company
Amounts payable:
Within 1 year
Between 1 and 5 years		 2022
£
2,880
720		 2021
£
4,774
6,720
Total
3,600
11,494

17. Related party transactions

Jonathan Church, the Chair of the Board of The Marlowe Trust is also a director of the following companies who had the following related party transactions:

• KMCB Productions Ltd. £12,687 (2021 - £nil) was invoiced inclusive of VAT on an open market basis by KMCB for a production of “David Suchet Poirot and More, a Retrospective”.

• Make Em Laugh Ltd: £269,323 (2021 - £nil) was invoiced inclusive of VAT on an open market basis by Make Em Laugh Ltd for a production of “Singin’ In The Rain”.

• Jonathan Church Productions Ltd who acted on behalf of Producer EHP LWW Ltd as General Manager: £151,545 (2021 - £nil) was invoiced inclusive of VAT on an open market basis by EHP LWW Ltd for a production of “Lion, Witch and the Wardrobe”.

18. Principal subsidiaries

The Marlowe Trust Trading Limited
Total assets as at 31 March
Total liabilities as at 31 March
Total equity as at 31 March
Turnover
Expenditure
Proft for the period		 2022
£
234,526
(124,597)
109,929
905,686
(775,486)
130,200		 2021
£
60,391
(80,662)
(20,271)
5,086
(45,200)
(40,114)

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Page 48

Notes To The Financial Statements For the year ended 31 March 2022

----- Start of picture text -----
19. Restricted Funds Balance at Balance at
----- End of picture text -----
Current year
Murder In The Cathedral Fund
NT Connection Fund
RSC project Fund
Property, repairs &
maintenance Fund
SELEP Fund
ACE Evolve		 1 Apr 21
£
146,374
-
-
-
-
-		 Income
£
-
3,437
42,839
52,336
158,774
9,000		 Expenditure
£
-
(3,437)
(42,839)
(52,336)
(158,774)
(9,000)		 31 Mar 22
£
146,374
-
-
-
-
-
Total
146,374
266,386
(266,386)
146,374
Prior year
The Kit
Murder In The Cathedral Fund		 -
146,374		 49,500
-		 (49,500)
-		 -
146,374
Total
146,374
49,500
(49,500)
146,374

Murder In The Cathedral Fund

A planned production of TS Elliot’s Murder In The Cathedral was fundraised for in 2019/20 financial year. Due to the COVID 19 pandemic this has now been delayed to the 2023/24 financial year.

NT Connections Fund

The Marlowe Trust is fully engaged within the National Theatres NT Connections programme.

RCS Projects Fund

The Marlowe Trust is fully engaged within the RSC Associate Schools and Shakespeare Nation programme of activity.

Property Repairs & Maintenance Fund

Grants received for specific building repairs, maintenance, and improvements within the financial year.

SELEP Fund

SELEP funded a collaborative programme between three major cultural institutions in the LEP region The Mercury Theatre in Colchester and Glyndebourne Opera in Sussex and The Marlowe Theatre in Canterbury.

ACE Evolve

ACE Evolve was a response to the challenges of the pandemic which had a devastating impact on the theatre sector.

The Kit

Grant recieved from the National Lottery Heritage Fund for the upkeep of The Kit during the pandemic.

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Page 49

Notes To The Financial Statements For the year ended 31 March 2022

----- Start of picture text -----
20. Designated funds Balance at New Designations Balance at
1 Apr 21 designations released 31 Mar 22
----- End of picture text -----
Current year
Marlowe Theatre Development
Trust Fund
Investment Fund		 £
23,427
-		 £
118,154
75,000		 £
-
-		 £
141,581
75,000
Total
23,427
193,154
-
216,581
Prior year
Marlowe Theatre Development
Trust Fund		 23,427 - - 23,427
Total
23,427
-
-
23,427

Marlowe Theatre Development Trust Fund is made of donations and legacies transferred and allocated as a designated fund for projects not within the core Marlowe budget.

Investment Fund designated to allow the Trust to invest deeper outside of the core budget for projects, programming and infrastructure.

21.
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
Total
funds		 21.
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
Total
funds		 21.
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
Total
funds		 21.
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
Total
funds
Current year
Tangible fxed assets
Current assets
Creditors due within one year		 £
918,464
9,025,418
(8,104,541)		 £
-
146,374
-		 £
918,464
9,171,792
(8,104,541)
1,839,341
146,374
1,985,715
Prior year
Tangible fxed assets
Current assets
Creditors due within one year
Creditors due after one year		 Unrestricted
funds
£
169,558
6,726,522
(4,035,158)
(1,920,384)		 Restricted
funds
£
-
146,374
-
-		 Total
funds
£
169,558
6,872,896
(4,035,158)
(1,920,384)
940,538
146,374
1,086,912