2023-03-31-accounts - The Marlowe Trust

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ANNUAL REPORT 2022/25 *- Ill THE MARLOWE TRUST ANNUAL REPORT and financial st. For the year ended 31 March 2023

Reference and Administrative	Details ofthe Charity, Trustees and Advisors
Chairman's Report
Chief Executive's Report
On Our Stages
Skills Development		10
Learning and Participation		15
Future Plans		19
Trustees' Report		22
Independent Auditors' Report		27
Consolidated Statement of Financial Activities		31
Consolidated Balance Sheet		33
Company Balance Sheet		34
Consolidated Statement of Cash Flows		35
Notes to the Financial Statements

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IHENIRiOThTIHUST ANWUAI REPDRTand nancIal 51alemen15 Piy15 Learning and Participation

ThENIRiOThTIWJ5T ANWUAI REPORTind financhil 5ts1emenfs u(ur '/*1

			Note	2023	2023	2023	2022
Income from:
Donations and	legacies			187,412		187,412	1,383,279
Charitable actiwties				14,095,268	100,724	14,195,992	9,192,553
Other trading	activities:
Fundraising				42,039		42,039	28,200
Trading activities				1,379,792		1,379,792	905,846
Investments:
Bank interest	recewable			66,330		66,330	2,044
Other income				68,237		68,237	248,092
Total Income				15,839,078	100,724	15,939,802	11,760,014
Expenditure on:
Raising funds:
Fundraising	trading			1,145,740		1,145,740	775,486
Charitable actwities				14,477,302	100,724	14,578,026	10,085,725
Total expenditure			5	15,623,042	100,724	15,723,766	10,861,211
Net movement	in funds			216,036		216,036	898,803
Reconciliation	offunds:
Total funds brought		forward		1,839,341	146,374	1,985,715	1,086,912
Total funds carried forward				2,055,377	146,374	2,201,751	1,985,715

			Note	2022	2022	2022
Income from:
Donations and	legacies			1,383,279		1,383,279
Charitable activities				8,926,167	266,386	9,192,553
Other trading	activities.
Fundraising				28,200		28,200
Trading activities				905,846		905,846
Investments:
Bank interest	receivable			2,044		2,044
Other income				248,092		248,092
Total income				11,493,628	266,386	11,760,014
Expenditure on:
Raising funds:
Fundraising	trading			775,486		775,486
Charitable activities				9,819,339	266,386	10,085,725
Total expenditure			5	10,594,825	266,386	10,861,211
Net movement	in funds			898,803		898,803
Reconciliation	offunds:
Total funds brought		forward		940,538	146,374	1,086,912
Total funds carried forward				1,839,341	146,374	1,985,715

			Note
Fixed assets
Tangible assets			10		1,035,763		918,464
Current assets
Investments -95 day notice account						2,000,000
Stocks			12	15,800		17,910
Debtors			13	451,777		673,344
Cash at bank and	in	hand		6,732,971		6,480,538
				7,200,548		9,171,792
Creditors: amounts		falling	14	(6,034,560)		(8,104,54T)
due within one year
Net current assets					1,185,988		1,067,251
Net assets					2,201,751		1,985,715
Charity Funds
Restricted funds			18		146,374		146,374
Unrestricted funds:
Designated funds			19		241,581		216,581
General unrestricted		fund			1,813,798		1,622,760
Total funds			20		2,201,751		1,985,715

				Note
Fixed assets
Tangible assets				10		951,008		859,217
Investments
						951,009		859,218
Current assets
Investments	-95 day notice account						2,000,000
Debtors				13	518,639		717,966
Cash at bank and		tn	hand		6,422,018		6,328,059
					6,940,657		9,046,025
Creditors: amounts			falling	14	(5,975,055)		(8,029,287)
due within	one year
Net current	assets					965,602		1,016,738
Net assets						1,916,611		1,875,956
Charity Funds
Restricted	funds					146,374		146,374
Unrestricted	funds
Designated	funds					241,581		216,581
General unrestricted			fund			1,528,656		1,513,001
Total funds						1,916,611		1,875,956

				2023	2023	2023	2022
Donations				187,412		187,412	133;I26
Unconditional	Grants						1,250,153
Total donations	and legacies			187,412		187,412	1,383,279
				2023	2023	2023	2022
Income from Theatre				14,095,268		14,095,268	8,926,167
Productions
Grants					100,724	100,724	266,386
Total donations	and legacies			14,095,268	100,724	14,195,992	9,192,553
				2023	2023	2023	2022
Sponsorship, Advertising		and		42,039		42,039	28,200
Business Membership
Cost of raising	funds		471,376	605,826	68,538	1,145,740	775,486
Charitable activities.
Delivery ofthe	arts		3,298,239	9,978,449	1,301,338	14,578,026	10,085,725
			3,769,615	10,584,275	1,369,876	15,723,766	10,861,211

Staff training			57,085	50,305
Insurance			97,357	138,976
Consultancy			191,537	67,832
Repairs and building			67,215	123,031
maintenance
Computer and telephone		costs	59,288	66,330
Light, heat and other	building		419,666	306,402
costs
Travel and subsistence			27,696	20,345
Bank charges			4,255	11,810
Equipment and materials			15,416	14,781
Legal and professional	fees		8,909	15,259
EKS service charges			22,878	49,561
Publications and hospitality			12,211	11,552
Licenses and subscriptions			67,818	60,771
Irrecoverable VAT			167,969	141,975
Accountancy fees			3,025	2,750
Agency				42,155
Fundraising			68,538	60,022
Depredation			65,393	40,329
Governance costs:
Auditors remuneration			13,620	9,000
Auditors remuneration	- over			(2,5001
provision in prior year
Legal fees				782
Grant Audit				1,000
			1,369,876	1,232,468

To The Financial Statements	For The	Year Ended 31March	2023
This is stated after charging:
Depreciation oftangible fixed assets:
- owned by the chanta hie group		65,394	40,328
- Auditors' remuneration - audit		13,620	9,000
During the penod, no Trustees received any	remuneration.
During the penod, no Trustees received any	reimbursement	of expenses.
Staff costs were as follows.
Wages and salaries		3,188,659	2,343,678
Social security costs		262,223	180,870
Other pension costs		318,733	286,487
		3,769,615	2,811,035

Group
Cost
Brought forward	567,374	138,486	111,486	192,100	1,009,446
Additions		61,884	19,102	119,402	200,388
As at 31 March 2023	567,374	200,370	130,588	311,502	1,209,834
Depreciation
Brought forward		6,559	43,840	40,583	90,982
Charge for the period		16,167	28,933	37,989	83,089
As at 31 March 2023		22,726	72,773	78,572	174,071
Net book value	567,374	177,644	57,815	232,930	1,035,763
As at 31 March 2023
As at 31 March 2022	567,374	131,927	67,646	151,517	918,464
	Land and	Leasehold	Computer	Theatre	Total
	Buildings	improvements	equipment	equipment
Company
Cost
Brought forward	567,374	138,486	111,053	118,361	935,274
Additions		61,884	19,102	76,199	157,185
As at 31 March 2023	567,374	200,370	130,155	194,560	1,092,459
Depreciation
Brought forward		6,559	43,506	25,992	76,057
Charge for the penod		16,167	28,834	20,393	65,394
As at 31 March 2023		22,726	72,340	46,385	141,451
Net book value	567,374	177,644	57,815	148,175	951,008
As at 31 March 2023
As at 31 March 2022	567,374	131,927	67,547	92,369	859,217

				2023	2023	2022		2022
Finished goods		and goods for resale		15,800		'l7,9'IO
				2023	2023	2022		2022
Trade debtors				16,158	16,158	24,983		70,216
Amounts owed		by group undertakings			67,611
Other debtors				322,196	322,196	570,885		570,885
Prepayments	and accrued income			113,423	112,674	77,476		76,865
				451,777	518,639	673,344		717,966
				2023	2023	2022	2022
Trade creditors				224,622	184,258	129,377	97,192
Amounts owed		to group			20,723		4,110
undertakings
Other taxation		and social		93,740	93,740	93,123	93,123
security
Other creditors				1,432,197	1,392,333	1,619,259	1,572,080
Accruals and	deferred		income	4,284,001	4,284,001	6,262,782	6,262,782
				6.034,560	5,975,055	8,104,541	8,029,287

At 31	March 2023 the total ofthe future	March 2023 the total ofthe future	operating	leases was:
Group	aud Company		2023	2022
Amounts		payable:
Within	1	year	11,039	2,880
Between		'I and 5years	24,956	720
Total			35,995	3,600

Company registration	number	11337139
Equity shareholding	%	100%
			2023	2022
Total assets as at 31	March		432,979	234,526
Total liabilities as at	31 March		(147,839)	(124,597)
Total equity as at 31	March		285,140	109,929
Turnover			1,379,792	905,686
Expenditure			(1,165,465)	(775,486)
Profit for the penod			214,327	130,200

		1Apr 22	Income	Expenditure	31 Mar 23
Current year
Murder In The Cathedral	Fund	146,374			146,374
The Pilgrims Trust			15,000	(15,000)
AHF			50,000	(50,000)
RSC 37 Plays			1,500	(1,500)
RSC projects Fund			25,000	(25,000)
NT Connection Fund			9,224	(9,224)
Total restricted funds		146,374	100,724	(100,724)	146,374
Prior year
NT Connection Fund			3,437	(3,437)
RSC projects Fund			42,839	(42,839)
Property, repairs &			52,336	(52,336)
maintenance Fund
SELEP Fund			158,774	(158,774)
Catalyst for Culture			9,000	(9,000)
Murder In The Cathedral	Fund	146,374			146,374
Total restricted funds		146,374	266,386	(266,386)	146,374

Current year
Marlowe Theatre	Development	141,581		141,581
Trust Fund
Investment Fund		75,000	25,000	100,000
Total restricted	funds	216,581	25,000	241,581
Prior year
Marlowe Theatre	Development	23,427	TI8,154	141,581
Trust Fund
			75,000	75,000
Total restricted	funds	23,427	193,154	216,581

Current year
Tangible fixed assets	1,035,763		1,035,763
Current assets	7,054,174	146,374	7,200,548
Creditors due within one year	(6,034,5601		(6,034,5601
	2,055,377	146,374	2,201,751
	Lfnrestrlcted	Restricted	Total
	funds	funds	funds
Prior year
Tangible fixed assets	918,464		918,464
Current assets	9,025,418	146,374	9,171,792
Creditors due within one year	(8,104,5411		(8,104,5411
	1,839,341	146,374	1,985,715