ANNUAL REPORT
2022/25 *-
Ill
THE
MARLOWE
TRUST
ANNUAL REPORT and financial st.
For the year ended 31 March 2023
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|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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ThENIRiOThIIIU5T ANWUALREPORlandlkn
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ANWUALthRTand financial 5talemen15
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Skills Dthlopm
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IHENIRiOThTIHUST ANWUAI REPDRTand nancIal 51alemen15
Piy15
Learning and
Participation
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ThENIRiOThTIWJ5T ANWUAI REPORTind financhil 5ts1emenfs
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||||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|
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||||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|
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|||||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|
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|||||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|
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|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|
|Notes|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|
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|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|
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|||||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||
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|At 31|March 2023 the total ofthe future|March 2023 the total ofthe future|minimum|lease payments|under non-cancellable|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|
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|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|
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|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|