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2021-04-05-accounts

Pag¢ 16 Independent Auditorfs Report to the Trustees of Yvonne Arnaud Theatre Trust forthe year ended 5 April 2021 Based on our understanding of the chartyand industry, we identified the principal risks of non-compliance with laws and regulations. We also obtained an understanding ofthe le8al and regulatory frameworks that the charty operates in, focusing on those that had a direct effect on material figures and disclosures in the financial statenients. The main regulations considered in this context included the Charities Act 2011, FRS 102 and Charity 50RP. We evaluated the incentives and opportunities for frnud in the finantial statements. includin& but not limited to, the risk of override of controls, and designed procedures in response to these risks as follows: enquiring of management concerning actual and potential litigation and claims: performing analytical procedures to identify any unusual or unexpected relationships that may indicate ri5k5 of material mi55tatement due to fraud; testing the appropriateness of journal entries and other adjustments: assessing whether the judgements made in making accounting estimates were indicative of a potential bias, and,- evaluating the business rationale of any significant transactions that were unusual or outside the normal course of business. We also tommunicated relevant identffied laws and re8ulations and potential fraud risks to all Èngagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflerted in the financial statements, a5 we will be les5 likely to become aw&￿ of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or mis￿PreSentation. A further description of our responsibilities is available on the Financial Reporting Council's website at: https:/lwww.frc.org.uVOur-WorklAuditlAudit-and-assurancelStandards-and-guidancelStandards-and- guidance-for-auditors/Auditors-responsibilities-for-auditlDescription-of-auditors-responsibilities-for- audit.aspx. This dexription fornis part of our auditorfs report. Use of our Report This report is made solely to the charity5 trustees, as a body* in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charivs trustees those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept orassume responsibilityto anyone other than the charity and the charit(s trustees as a ijody, for our audit work, for this report. or for the opinions we have formed. Alex Temlett CA ACA cfA Istatutory Auditorl For and on behalf of Azets Audit Services Limrf(ed, Statutory Auditor 20 July 2021 AslKombe Court Woolsack Way Godalming Surrey GU7 ILQ Azets Audit Services Limited is eligible to act as an auditor in Temis of section 1212 of ihe Companies Act 2006

2021 2021 2021 2020
Note Unrestricted Restricted Total Total
Funds Funds Funds Funds
6 f 6 E
Income and endowments from:
Donations and legacies 4 247,695 5,783 253,478 449,413
Charitable
activities
-Operation
of Main
House 5 1,040,712 7,450 1,048,162 2,983,503
—Youth &Education Programme 5 16,854 16,854 155,752
1,057,566 7,450 1,065,016 3,139,255
Orber trading activities
- Rental income 23,190 23,190 23,190
-External set building 66,824
-Vanbrugh
Club subscriptions
48,027 48,027 61,736
- Catering operations 7,469 7,469 546,967
78,686 78,686 698,717
Investment
income -
bank interest 6 16,011 16,011 24,642
Total income 1,399,958 13,233 1,413,191 4,312,027
Expenditure
on:
Raising funds
- Donations
and legacies
(4,104) (4,104) (3,472)
- External set building (28,730)
-Vanbrugh
C(ub subscriptlons
-Catering operations
(89,273) I 9.
I
(672)
~I5
9 (93,377) (93,377) (552,408)
Charitable
activities
-Operation
of Main
House 10 (1,108,878) (100,777) (1,209,655) (3,407,527)
-Youth & Education Programme 10 (27,042) 27,042) (368,085)
(1,135,920) (100,777) (1,236,697) (3,775,612)
Total expenditure 1,229,297) (100,777) 1,330,074) (4,328,020)
Net income/(expenditure) 170,661 (87,544) 83,117 (15,993)
Taxation 20,822 20,822 50,222
Transfers between funds
Net movement
in funds
13 191,483 (87,544) 103,939 34,229
Reconciliation offunds:
Total funds brought forward at 6 April 2020 3,247,626 241,133 3,488,759 3,454,530
Total funds carried forward at 5 April 2021 27-29 3,439,109 153,589 3,592,698 3,488,759

Group Group Charity Chadty
2021 2020 2021 2020
Note f f E f
Fixed Assets
Tangible fixed assets 20/21 824,205 966,818 96,029 98,201
Current Assets
Stock 22 4,834 12,683
Debtors 23 197,299 440,790 745,215 783,083
Cash at bank and in hand 24 3,190,984 2,833,168 2,544,581 2,387,459
3,393,117 3,286,641 3,289,796 3,170,542
Creditors: Amounts falling due
within one year 25 (624,624) (764,700) (18,202) (27,553)
Net Current Assets 2,768,493 2,521,941 3,271,594 3,142,989
Total assets less current liabilities 3,592,698 3,488,759 3,367,623 3,241,190
Funds
Restricted Funds 29
Building Restoration Fund 58,972 135,641 58,972 135,641
Dimmer
Lighting
Fund 71,400 81,600 71,400 81,600
Young Disadvantaged Fund 21,217 21,892 21,217 21,892
Other Restricted Funds 2,000 2,000 2,000 2,000
153,589 241,133 153,589 241,133
Designated
Funds
28
Theatre Support Fund 1,010,099 1,010,099 1,010,099 1,010,099
Production
Fund
500,000 500,000 500,000 500,000
Dimmer
Lighting
System 95,917 109,620 95,917 109,620
Tech Replacement
&Improvement
142,455 142,455 142,455 142,455
Flood Excess 100,000 100,000 100,000 100,000
Capital Project 623,082 23,082 623,082 23,082
2,471,553 1,885,256 2,471,553 1,885,256
Unrestricted
Funds
27
Charitable
Funds
885,571 1,253,500 742,481 1,114,801
Non-Charitable
Trading
Funds (18,010) 8,875
Reserve arising on consolidation 99,995 99,995
967,556 1,362,370 742,481 1,114,801
3,592,698 3,488,759 3,367,623 3,241,190

Group Group Charity Charity
2021 2020 2020 2020
Note 6 E 6 6
Cash used in operating
activities
32 343,666 31,905 142,034 36,301
Cash flows from investing activities
Interestincome 16,011 24,642 15,089 23,894
Purchase oftangible
fixed assets
(1,861) (19,834)
Cash provided
by/(used
in)
investing
activities
14,150 4,808 23,894
Cash flows from financing activities
Repayment
of borrowing
Cash used in financing
activities
Increase/(decrease)
in cash
and
cash equivalents
in the year
357,816 36,713 157,123 60,195
Cash and cash equivalents at the
beginning
ofthe year
2,833,168 2,796,455 2,387,458 2,327,263
Total cash and cash equivalents
at the end ofthe year 3,190,984 2,833,168 2,544,581 2,387,458

2021 2020
The summary financial
performance
ofthe charity alone is: 6
Income 301,167 533,497
Expenditure on charitable activities (174,734) l497,428)
Net income/(expenditure) 126,433 36,069
Total funds brought forward 3,241,190 3,205,121
3,367,623 3,241,190
Represented by:
Restricted income funds 153,589 241,133
Designated income funds 2,471,553 1,885,256
Unrestristed income funds 742,481 1,114,801
3,367,623 3,241,190

2021 2020
Un- Un-
restricted Restricted Tota I restricted Restricted Tote I
6 f 6 6 E 6
142,395 142,395 118,473 118,473
Legacies 105,300 105,300 204,000 204,000
Restoration levy 5,783 5,783 123,940 123,940
Donated services 3,000 3,000
247,695 5,783 253,478 325,473 123,940 449,413

2021 2020
Un- Un-
restricted Restricted Total festncted Restricted Total
E E E E E E
Operation ofMain House
Boxoffice income 90,635 90,635 2,574,205 2,574,205
Production
commissioning
12,402 12,402
Business consortium 25,533 25,533
Friends membership 18,123 18,123 40,614 40,614
Sundry income 1,146 1,146 14,476 14,476
Performance
grants
(see note 7) 930,808 7,450 938,258 316,273 316,273
1,040,712 7,450 1,048,162 2,983,503 2,983,503
youth &education programme
Education related income 114,736 114,736
Performance
grants
(see note 8) 16,854 16,854 29,031 11,985 41,016
16,854 16,854 143,767 11,985 155,752
1,057,566 7,450 1,065,016 3,127,270 11,985 3,139,255

2021 2020
Un- Un-
restricted Restricted Total restricted Restricted Total
E E E E E E
Guildford
Borough Council
310,220 310,220 310,220 310,220
Arts Council Funding
Emergency Response Funds 35,000 35,000
Cultural
Recovery Fund
242,540 242,540
CIRSSupport Grant 320,120 320,120 6,053 6,053
Local Restrictions
Support Grant
22,928 22,928
The Theatres Trust 6,400 6,400
Surrey University 1,050 1,050
930,808 7,450 938,258 316,273 316,273

2021 2020
Un- Un-
restricted Restricted Total restricted Restricted Total
E E E E E E
Youth &Education Grant Funding:
The Bernard Coleman Charitable Trust 1,000 1,000
The Boris Karloff Foundation 2,000 2,000
The Coleman
Charitable
Trust 1,000 1,000
Community
Foundation
for Surrey 3,000 3,000
The D'Oyly Carte Charitable
Trust
3,000 3,000
The Grey Court Trust 1,000 1,000
The Shanly Foundation 600 600
Other Donations of less than 6500 385 385
Private Donor to Youth Programme 28,000 28,000
CIRS Support Grant 16,854 16,854 1,031 1,031
16,854 16,854 29,031 11,985 41,016

2021 2021 2021 2020
Main Youth & Main Youth &
House Education Total House Education Total
f f f f
Production costs 88,388 88,388 1,383,754 1,383,754
Irrecoverable VAT 3,072 3,072 191,736 191,736
Production commissioning fee 752 752 853 853
Staff costs 26,798 26,798 122,341 122,341
Other youth &ed direct costs 244 244 5,239 5,239
Governance 8 support costs 1,117,443 1,117,443 1,831,184 240,505 2,071,689
(note 11)
1,209,655 27,042 1,236,697 3,407,527 368,085 3,775,612
Anal
is of
overnance and su rt costs
The group allocates its governance and support costs as shown
in the table below and then further
apportions those costs between the two charitable activities undertaken (see note 10). These costs are
allocated on a basis consistent with the use ofresources.
2021 2020
Theatre Theatre
operation Governance Total operation Governance Total
f f. f
Advertising &publicity 17,861 17,861 242,334 242,334
Staff costs 654,022 654,022 1,085,590 1,085,590
Property costs 190,578 190,578 307,718 307,718
Office costs 57,861 57,861 117,849 117,849
Professional fees 32,861 15,100 47,961 46,519 24,600 71,119
Depreciation &loss on disposal 124,526 124,526 148,200 148,200
Travel and subsistence 1,261 1,261 12,070 12,070
Bank &credit card charges 6,064 6,064 35,937 35,937
Bad Debts (1,200) (1,200) 1,200 1,200
Irrecoverable VAT 18,509 18,509 49,672 49,672
1,102,343 15,100 1,117,443 2,047,089 24,600 2,071,689

2021 2020
This is stated after charging the following: f f
Depreciation
oftangible
fixed assets 144,474 169,213
Loss on disposal offixed assets 3,138
Auditors'
remuneration
-group 15,100 24,600
Auditors'
remuneration
-other services 1,480 2,265
Operating
leases - rent
43,751 43,751
Staff costs (note 14) 771,408 1,656,093

2021 2020
f f
Wages and salaries 694,874 1,526,805
Social security costs 52,789 97,403
Other pension costs 23,745 31,885
771,408 1,656,093

2021 2020
No No
Management and administration 12 15
Boxoffice and front ofhouse 3 6
Production 5 6
Youth and education 2 6
Catering 1 4
23 37

Charity Company
number number
Yvonne Arnaud Theatre Management Limited 238436 814453
Yvonne Arnaud Theatre (Catering) Limited 847430
Yvonne Arnaud Theatre (Productions) Limited 1925822
The summary financial performance ofthe individual subsidiaries is shown below.
Yvonne Yvonne Yvonne
Afnaud Arnaud Amaud
Theatre Theatre Theatre
Management (Catering) (Productions)
Umited Umited Limited
6 6
Total income 1,400,327 62,388 126,091
Total expenditure (1,392,436) (92,773) (146,913)
Corporation
Tax
20,822
Results forthe year 7,891 (30,385)
The assets and liabilities ofthe subsidiary were:
Fixed assets 667,362 60,816
Current assets 836,206 40,578 46,896
Current
liabilities
(1,356,979) (48,586) (21,215)
Total net assets 146,589 52,808 25,681
Aggregate
share
capital and reserves 146,589 52,808 25,681

Tan 'ble fixed assets —Grou
Improvements Fixtures,
to leasehold fittings & Computer
premises equipment equipment Total
6 6
Cost:
At 6 April 2020 2,115,583 636,215 115,696 2,867,494
Additions 1,861 1,861
Disposals
At 5 April 2021 2,115,583 636,215 117,557 2,869,355
Depreciation:
At 6 April 2020 1,186,750 606,331 107,595 1,900,676
Charge for the year 127,152 13,455 3,867 144,474
Depreciation
on disposals
At 5 April 2021 1,313,902 619,786 111,462 2,045,150
Net book value:
At 5 April 2021 801,681 16,429 6,095 824,205
At 5 April 2020 928,833 29,884 8,101 966,818
Tan 'ble fixed assets —Chari
Long term
I ease hold
properties Theatre
(theatre) equipment Total
E E 6
Cost:
At 6 April 2020 217,217 60,014 277,231
Additions
Disposals
At 5 April 2021 217,217 60,014 277,231
Depreciation:
At 6 April 2020 119,017 60,013 179,030
Charge for the year 2,172 2,172
Depreciation on disposals
At 5 April 2021 121,189 60,013 181,202
Net book value:
At 5 April 2021 96,028 1 96,029
At 5 April 2020 98,200 1 98,201

Group Group Charity Charity
2020 2020 2020 2019
E 6 6 6
Food and drink 4,760 10,799
Dry goods/Disposables 74 1,884
4,834 12,683

Group Group Charity Charity
2021 2020 2021 2020
6 6 6 f
Trade debtors 3,751 39,359
Taxation recoverable 35,712 57,222 8,549 7,000
yvonne
Arnaud Theatre Management
Limited 732,245 571,220
Other debtors 1,994
Prepayments and accrued income 157,836 342,215 4,421 204,863
197,299 440,790 745,215 783,083

Group Group Charity Charity
2021 2020 2021 2020
6 f E 6
Trade creditors 31,972 178,869
CBILSbankloan 240,000
Advanced
bookings
136,850 255,326
Other taxes and social security 11,316 31,307
Other creditors 104,804 81,715
Accruals and deferred income 99,682 217,483 18,202 27,553
624,624 764,700 18,202 27,553

2021 2020
f f
Opening balance at 6April 2020 366,488 296,839
Amounts deferred
in the year
147,104 366,488
Amount released to incoming resources (366,488) (296,839)
Closing balance at 5 April 2021 1 2. 64 366, 88

Unrestric ted
Funds - Grou
Non-charitable Reserve
Charitable trading arising on
funds funds consolidation Total
f f f
Brought forward at 6April 2020 1,253,500 8,875 99,995 1,362,370
Incoming Resources 1,358,392 62,388 1,420,780
Outgoing Resources (1,126,321) (89,273) (1,215,594)
Transfers (600,000) (600,000)
Carried forward at 5 April 2021 885,571 (18,010) 99,995 967,556
Unrestric ted
Funds - Chari
2021 2020
Charitable Charitable
funds funds
f f
Brought forward at 6 April 1,114,801 1,058,746
Incoming Resources 295,384 409,557
Outgoing Resources (67,704) (303,502)
Transfers (600,000) (50,000)
Carried forward at 5 April 2.481 1.11.862

Dimmer Flood Production Tech Capital
support lighting Excess Fund &IT project
Fund system Fund Total
f E E E 6
Brought forward at 6April 2020 1,010,099 109,620 100,000 500,000 142,455 23,082 1,885,256
Incoming Resources
Outgoing Resources (13,703) (13,703)
Transfers 600,000 600,000
Carried forward at 5 April 2021 1,010,099 95,917 100,000 500,000 142,455 623,082 2,471,553

Restricted Restricted Restricted Funds - Group Dimmer Young
Building Stage dis- Theatres Other
Restoration lighting advantaged Trust Digital restricted
fund fund fund fund fund funds Total
E E E E
Brought forward at 6April 2020 135,641 81,600 21,892 2,000 241,133
Incoming Resources 5,783 6,400 1,050 13,233
Outgoing Resources (82,452) (10,200) (675) (6,400) (1,050) (100,777)
Carried forward at 5April 2021 58,972 71,400 21,217 2,000 153,589
Restricted Funds -Charity Dimmer
Building Stage Young Other
Restoration lighting disadvantaged estncted
fund fund fund funds Total
E E E E
Brought forward at 6Aorll 2020 135,641 81,6X 21,892 241,133
Incoming Resources 5,783 5,783
Outgoing Resources (82,452) (10,2X) (675) (93,327)
Cerned forward at 5April 2021 58,972 71,400 21,217 2,000 153,589

2021 2021
General Designated Restricted
funds funds funds Total
6 6 6
Tangible fixed assets 824,205 824,205
Current assets 202,133 202,133
Cash at bank and in hand 565,842 2,471,553 153,589 3,190,984
Current liabilities (624,624) (624,624)
967,556 2,471,553 153,589 3,592,698
2020 2020
General Designated Restricted
funds funds funds Total
6 6 6
Tangible fixed assets 966,818 966,818
Current assets 453,473 453,473
Cash at bank and in hand 706,779 1,885,256 241,133 2,833,168
Current liabilities (764,700) (764,700)
1,362,370 1,885,256 241,133 3,488,759

2021 2020
Operating leases which expire: 6 f
Within one year land and buildings 29, tt 43,750
Two to five years land and buildings 17,063 46,813
Group Group Charity Charity
2021 2020 2021 2020
6 6 6 6
Net movement
in funds
103,939 34,229 126,433 36,069
Add back depreciation 144,474 169,213 2 172 2,172
Add back loss on disposal offixed assets 3,138
Deduct interest income shown in
investing
activities
(16,011) (24,642) (15,089) (23,894)
Decrease/(increase) in stock 7,849 5,069
Decrease/(increase) in debtors 215,640 (208,795) 39,417 17,381
Decrease/(increase) in gift aid (1,549) 879 (1,549) 879
Decrease/(increase) in corporation tax 29,400 9,512
Increase/(decrease) in creditors (140,076) 43,302 (9,350) 3,694
343,666 31,905 142,034 36,301