**REGISTERED COMPANY NUMBER: 00469253 (England and Wales) REGISTERED CHARITY NUMBER: 207516** 

**REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 FOR THE QUESTORS LIMITED** 

Johnsons, Chartered Accountants Statutory Auditor 

1-2 Craven Road Ealing London W5 2UA 



**THE QUESTORS LIMITED** 

## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022** 

|||**Page**||
|---|---|---|---|
|**Report of the trustees**|1|to|7|
|**Report of the independent auditors**|8|to|11|
|**Statement of financial activities**||12||
|**Balance sheet**||13||
|**Cash flow statement**||14||
|**Notes to the cash flow statement**||15||
|**Notes to the financial statements**|16|to|23|





**THE QUESTORS LIMITED (REGISTERED NUMBER: 00469253)** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022** 

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2022. The trustees have adopted the provisions of 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 2019). 

## **OBJECTIVES AND ACTIVITIES Objectives and aims** 

The objectives of the Charity are: 

To encourage the study and practice of Dramatic Art amongst the inhabitants of London and elsewhere and to promote and conduct such theatrical and musical performances, lectures, concerts and other educational enterprises as may tend to the attainment of this object. 

These fall into three main areas of activity - our own season of plays, the hiring of the theatres to other amateur and professional visiting companies and our range of educational activities. 

The Questors' own season typically comprises 16 to 18 productions plus additional one-off performances, staged readings focused on new writing, and late evening shows. One of the challenges of being a public theatre is to balance the need to attract wider audiences with the continued aim of presenting a balanced programme of plays and productions which covers the broad spectrum of all that is best in theatre in terms of style, period, culture and country of origin, but with a particular emphasis on "The Classic, The Rare and The New". 

The Questors operates two theatre spaces: the Judi Dench Playhouse and the Stanislavsky Studio. These two theatres are available for hire to other amateur and professional companies, many of whom are long-standing visitors. 

Educational activities undertaken by The Questors focus on: training for young people aged 5 to 18; outreach language support for refugees aged 16 to 18; adult acting training for those aged 18+; mentoring in all aspects of theatre performance and production for members aged 18+. 

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**THE QUESTORS LIMITED (REGISTERED NUMBER: 00469253)** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022** 

## **OBJECTIVES AND ACTIVITIES** 

## **Significant activities** 

We were able to resume much more of our activities than in the previous year as the impact and restrictions of the Covid 19 Pandemic eased. The following paragraphs describe what we were able to achieve. 

## **The Questors Youth Theatre** 

The Questors Youth Theatre (QYT) provides classes for children from age 6 rising to 18. The programme imbues children with an ethos of exploring an individual's creativity and enhancing their powers of self-expression. The weekly drama class activity largely returned to normal over the 2021-22 season, however, attendance has yet to reach its pre-pandemic level. We resumed staging Easter and Summer showcases, and various holiday projects were also run. Unfortunately, we were unable to stage a youth theatre production for the second year running. This was mainly due to the fact that we were forced to suspend both of our Christmas productions and remount them later in the season. This created a knock on effect and several other productions, including the QYT play, had to be shelved. 

## **Acting for All** 

Our Acting for All (AfA) course, intended for adults looking for a friendly and relaxed beginners' class in acting, did not run over the 2020-21 period. Plans have been made to remount this course in an adapted form for the 2022-23 season. 

## **The 2021/22 Season** 

There were two main objectives for the 2021/22 Season. The first was to clear the backlog of existing productions that we had committed to producing at various points from March 2020 onward and, secondly, return to the standard season model. We were successful in carrying out the first objective, having cleared all outstanding productions and projects by the end of the season. However, a resurgence in Covid cases in December 2021 resulted in a suspension of our production activities over the Christmas period. This, in turn, caused significant disruption to our planning which prevented a return to the normal season template. The affected productions were placed on hold and the season completely reorganised from February onward, which eventually resulted in our staging the Pantomime in March 2022. These disruptions, in conjunction with the fact that audience attendance could be somewhat erratic over the year, meant that box office revenue was not as high as in pre-pandemic seasons. That said, this season showed that there is still an appetite for live theatre in the local area and beyond; our members were also enthusiastic to resume staging productions and the season formed a solid base from which we could plan for build the 2022/23  season's activities. 

**Playhouse Productions** - dates shown are when the production took, place. Some of these dates are later than originally planned 

Oct 21 Bull/Contractions by Mike Bartlett Nov 21 The Ghost Train by Arnold Ridley Dec 2021 (but postponed to March 2022) Snow White by Ben Crocker Apr/May 22 India Gate by Howard Shepherdson May 22 Apologia by Alexi Kaye-Campbell June 22 Hangmen by Martin McDonagh Jul 22 The Importance of Being Earnest by Oscar Wilde 

## Studio Productions 

Oct 21 The Browning Version by Terence Rattigan Nov 21 The Water's Edge by Theresa Rebeck Jan 22  Dear Brutus by J. M. Barrie Feb 22 Consent by Nina Raine Mar 22 Whipping it Up by Steve Thompson Mar/Apr 22 Loveplay by Moira Buffini May 22 Dead Boy Cafe by Grant Corr 

July 22 Festival of New Writing (On Me by Charlotte Lamb, Two Cleaners by Chiara Arrigoni, Mute by Emily Glaze and readings of various other works) 

India Gate was a significant production in this season as this marked our first collaboration with The Punjabi Theatre Academy. This is the first time we have integrated with another local community drama group in this way and the event proved a great success, subsequently touring to the Crescent Theatre in Birmingham and to The Nehru Centre, the cultural wing of The High Commission of India. 

In addition to the above we also ran The Overnight Plays, a number of Q Extra events and our regular Christmas Ghost Stories evenings. Our audio drama strand also continued over this season. 

The Borough of Ealing Art Trail (BEAT) resumed in 2021 so we participated as one of the venues on the trail and as part of London's Open House event. In addition, we ran a Christmas market. 

Many of our regular hirers started to return to the theatre over this season and were joined by others who were new to us. We were also able to offer assistance to Ealing Music Services who were in need of a venue to perform in. 

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**THE QUESTORS LIMITED (REGISTERED NUMBER: 00469253)** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022** 

## **OBJECTIVES AND ACTIVITIES** 

The Questors Student Group (the Acting: Foundation and Performance Course) was able to resume after a year's gap due to the pandemic. The second year group (Group 74, who had taken two years to complete their first-year course) had an uninterrupted second year, performing Loveplay by Moira Buffini in the Studio in March and The Importance of Being Earnest by Oscar Wilde in the Playhouse in July. Group 75 also trained for their full first-year course and are now rehearsing for their first production in their second year. 

The Literature Classes did not run at The Questors over the period of this report, but there are plans to bring the course back to The Questors in January 2023. 

In 2022 we were able to reconnect with Ealing and Southall colleges to continue our ESOL (English for Speakers of Other Languages) outreach programme, which started in 2017. 

In June 2022 we delivered 3 taster workshops with each of the Entry one, two and three classes, culminating in a sharing at Southall college. We plan to run our full seven week programme to ESOL classes in the Autumn of 2022. 

## **The Questors Office** 

Staff worked a mixed arrangement of time in the office and homeworking, evolving from the operating pattern started in April 2020 as the impact of the Covid-19 pandemic diminished. Due to ill-health, the Executive Director went on long-term sick leave in December 2021. The responsibilities of the Executive Director have been covered since that time by the Chair of the Board of Trustees. A Technical Manager was appointed in October 2021, and a Front of House Operations Manager joined in May 2022. 

## **STRATEGIC REPORT** 

## **Achievement and performance** 

## **Investment performance** 

The Trustees are currently satisfied with the investment performance of the assets and at present do not have any plans to expand its portfolio or feel it necessary to dispose of those currently held. 

## **Financial review** 

## **Financial performance** 

Income for the year increased by 84% to £798,592 over the previous year. 

Expenditure for the year increased by 28%, to £658,735 over the previous year. 

The increases in income and expenditure reflect the depressed levels of activity in 2020/21 due to Covid. Furthermore, income in 2021/22 included £108,180 received in settlement of an insurance claim for losses incurred in 2019/20 due to Covid restrictions. 

The net current assets have increased to £557,313 at 31 August 2022 compared to £395,968 at 31 August 2021. 

## **Tangible fixed assets for use by the charity** 

Details of movements in fixed assets are set out in Note 12 to the accounts. 

## **Tangible fixed assets for use by the charity** 

The Charity has the power to invest in accordance with the objects clause in its Memorandum of Association and in accordance with the general law. Funds surplus to day-to-day requirements are kept at a number of reputable Prudential Regulation Authority (PRA) approved commercial banks. These amounted to £305,000 at 31 August 2022. In addition, there were investments in an M&G unit trust valued at £9,869 (cost £10,030) at 31 August 2022. 

. 

## **Reserves policy** 

The current Reserves Policy of the charity is that unrestricted net current assets should be maintained above £100,000. This is so that overheads can be covered for a reasonable period should income levels fall significantly, and also to act as a contingency against unexpected major expenditure. This is under ongoing review in light of our experience through the Covid-19 pandemic. 

Unrestricted net current assets at 31 August 2022 were £489,979. 

## **Statement on Public Benefit** 

The Trustees have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to guidance published by The Charity Commission, including public benefit guidance. 

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**THE QUESTORS LIMITED (REGISTERED NUMBER: 00469253)** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022** 

## **STRATEGIC REPORT** 

## **Market value of land and buildings** 

The net book value of freehold land and buildings at 31 August 2022 is £151,176. The trustees consider that the present market value is not less than book value. 

## **The Immediate Future** 

The year 2021/22 has seen a very welcome and significant move back towards full operating capacity. While Covid-19 has continued to affect our Programme of shows, including shows being postponed and, occasionally the part of an actor needing to be read in by an understudy. The Plan for 2022/23 is to run a full season of productions in the Playhouse and the Studio and to increase the number of visiting companies and to also host more external groups in the rehearsal rooms during the day time. 

We have continued to be a viable business due to the strength of our reserves, as well as the increase in income compared to the period of 2020/21. We are therefore planning to continue the refurbishment of the Dame Judi Dench Playhouse. The roof replacement was commenced in August 2022 and completed in December 2022. Further work is being planned to include replacement of the seating and enhancement of the ventilation and heating. 

We were very pleased to see how much local people valued the re-opening of the theatre, The response to our crowdfunding scheme amply demonstrated the support and affection people hold for their theatre. The Questors has continued to be regarded by the local and national arts community as an exciting company that other organisations want to work with and learn from. We have contributed to the plans for enhancing the cultural opportunities in the Borough of Ealing through our links to the Ealing Council Cultural Task Group. 

The Questors continues to be a member of the Society of Independent Theatres which includes Canal Café, Charing Cross Theatre, The Courtyard, Finborough Theatre, Hoxton Hall, Jermyn Street Theatre, King's Head Theatre, Landor Theatre, Lion & Unicorn, Park Theatre, Pleasance Theatre and Theatre 503. The objectives of this group include raising the profile of independent venues within the theatre industry and with the general public; encouraging the development of the performing arts; exchanging information on theatre companies and suppliers; exchanging ideas and proposals for marketing, promotion and audience development. 

Within the immediate area of the theatre plans for a number of new developments have reached a greater degree of maturity. The Questors aim and focus is to present the theatre as a renowned destination for high quality theatre in the neighbourhood, building on our reputation for high class drama and for the range of ways in which people can be creative through Membership of The Questors. We are continuing discussions with a range of organisations with a view to identifying ways in which we can enhance the opportunities for people working and living in Ealing to enjoy seeing and participating in the creation of live theatre. We also plan to further increase our outreach connections to organisations in the wider Borough, building on the highly successful collaboration with the Punjabi Theatre Academy in Southall. 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Governing document** 

The Questors Limited ('The Questors') is a company limited by guarantee governed by its Memorandum and Articles of Association dated 2 June 1949. These have been amended from time to time, most recently at a general meeting on 6 February 2005 when the Committee of Management with a membership of 15 was replaced by a Board of Trustees with a membership of 10. It is registered as a charity with the Charity Commission. The charitable company is controlled by a Board of Trustees all of whom are Directors and Trustees of the Charity. 

Anyone over the age of 18 can become a full member of the Company and acquire all the legal rights and obligations of membership including the right to vote at General Meetings. The Questors also offers Associate Membership of which there are currently two categories. Student Membership is open to a person who is a member of The Questors Youth Theatre, The Questors Student Group or Young Studio, or who is a student at a College/University receiving tuition at The Questors Theatre. Partner Membership is open to any group, organisation or company which The Questors has helped to found or supports (for example The Questors Choir and Pitshanger Poets) or with which The Questors has entered into a partnership agreement. 

Details relating to membership are set out in the Bye-Laws, the current version being those approved by the Annual General Meeting on 16th March 2015. 

The liability of the members is limited to a guarantee of 5 pence per member in the event of an insolvent winding-up. 

## **Recruitment and appointment of new trustees** 

There is a maximum of 10 Trustees who are elected by the full members at the Annual General Meeting. No outside body has nomination rights. Three Trustees, being the longest serving but chosen by lot if more than three have served for the same length of time, retire by rotation and are eligible for re-election. In addition any Trustee who has served more than two and a half consecutive years since election must retire and is eligible for re-election. The Trustees have the power to co-opt members to fill casual vacancies, but co-opted members are required to retire at the next Annual General Meeting and are eligible for re-election. 

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**THE QUESTORS LIMITED (REGISTERED NUMBER: 00469253)** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022** 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Organisational structure** 

The Board of Trustees administers the Charity. The Board meets ten times a year. There are a number of sub-committees created by the Board to examine issues in more detail than the full Board is able to do. The Finance Sub-committee meets at least quarterly to scrutinise the accounts, budget and financial matters. The Facilities Sub-committee is charged with preparing and keeping under review a facilities plan that captures all the non-routine repair needs and development opportunities on the site, and making expenditure recommendations to the Board. The Learning and Participation Sub-committee looks at all matters relating to education. The Diversity and Inclusion Sub-committee is charged with providing consultative support to the executive officers and the Board with respect to matters relating to demographic, cultural and social differences within The Questors membership and audiences, and providing support on developing opportunities to be involved in The Questors activities. The Board itself may meet outside the regular cycle for special purposes and may appoint task forces, usually led by a Trustee but involving other active members as well, to examine particular issues in depth. 

From 2017 we have two senior executive officers of The Questors - the Executive Director, which remains a paid role, and the Artistic Director, which remains a volunteer member role. All other member and staff management roles take their day-to-day leadership from these two senior executive officers who attend all board meetings. Within this structure the trustees have taken on the following portfolios, to ensure good communication within the organisation for: Diversity and Inclusion; Education; Facilities; Finance; Front of House; Health & Safety; Marketing; Membership & Communications; Production and Strategy. 

Broadly speaking, the Board of Trustees concerns itself with longer term strategic issues and the Executive with operational issues within policies and resources determined by the Board. 

Day-to-day operations are managed by the Executive Director and there are other paid staff, plus tutors on the educational courses. 

## **Induction and training of new trustees** 

New Trustees receive an information pack comprising the Memorandum and Articles of Association and other key documents and are invited to discuss their role with the Chairman and Company Secretary. There is a formal Trustee Role Description that embraces both their duties under company and charity law and what The Questors itself expects of a Trustee. 

Trustees are currently drawn only from the active membership. As such, they will be familiar with The Questors and are likely to have been involved in the theatre for many years. There is, therefore, no formal process of inducting new Trustees into the work and aims of the Company, as would be necessary were Trustees appointed from outside. Having said that, the Board actively encourages Trustees to familiarise themselves with aspects of the organisation they may not know so well, in particular the various roles of the permanent staff and those non-theatre activities that are increasingly important to the financial viability of the Company. 

The Board has considered the possibility of inviting people from outside to be Trustees and the issue will be kept under review. 

## **Wider network** 

At present The Questors Limited does not consider itself part of a wider network. 

## **Related parties** 

The theatre's bar is run by a separate body, the Grapevine Club, with its own constitution and accounts, which occupies its premises under a licence from The Questors. It also donates its surplus income to the theatre. In the year ended 31 August 2022 the licence fee was £45,000 (2021: £nil) with a donation of £16,000 (2021: £6,000). 

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**THE QUESTORS LIMITED (REGISTERED NUMBER: 00469253)** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022** 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Risk management** 

The boards continue to review the risks to which the Trust is exposed and establish management systems that mitigate those risks. The risk that the organisations faces are reviewed on a regular basis. 

The principal risks and uncertainties to which the charity is currently exposed together with mitigating actions being taken are listed below. 

## **Financial risks** 

## Coronavirus Covid-19 

The Questors theatre continues to be impacted post the Covid-19 lockdown with audience numbers still not at pre-pandemic levels, thereby continuing to impact the income derived from theatrical productions, the forecast take this into account and the board continues to monitor expenditure on theatrical productions. 

## **Physical risks** 

In terms of physical risks, we arranged for the site to be inspected by a Fire Risk Assessor, and for an Asbestos Management Survey to be carried out; both these surveys are due to take place in the Autumn (and outside the period of this report). Independent professional checks on fire extinguishers, Tallescope, the lift, workshop saws, wardrobe sewing machines and cleaning equipment as well as the alarm system as required by our insurers have been carried out to ensure that our infrastructure and procedures meet current best practice. 

We have decorated the Lodge to make it more useful for rehearsals and for outside hires. We carried at PAT testing and replaced and upgraded electronics around site including emergency lighting. We continued the transition to LED lighting in the Playhouse. The extraction equipment in the Workshop was serviced. 

The Trustees have continued to monitor the requirement for Covid-19 safety procedures, and we continued to ensure awareness of the maintenance of standards and the enforcement of health and safety rules across the site. 

The infrastructure and facilities owned by The Questors are considerable in size and complexity and just to keep the site safely operational requires considerable maintenance work within the limited funding available. Work planned for the replacement of above the Dame Judi Dench Playhouse commenced on 8th August 2022 and was completed in December 2022. 

The Finance Group reported on the forecast outturn against budget regularly, and the Board received advice on the impact on the reserves as well as cash flow. Recognising the need for significant capital expenditure to repair the roof of the Playhouse and associated works to upgrade heating and ventilation plant, we continued efforts on fund raising both through attracting donations and pursuing grant applications. To ensure the necessary works could definitely be carried out on the required timescale during the year we applied to Charity Bank for a loan facility of £600,000. At 31 August this had been agreed subject to due diligence. The facility was subsequently approved. Loans under the facility are secured against the freehold of the theatre site have a term of 25 years, with repayment of the capital commencing in year three. The Board believes such loans to be affordable based on recent financial performance, and furthermore any bequests or donations received in future can be used to pay down the loan early without penalty. 

The Questors receives independent advice on working with young people via the ITC (Independent Theatre Council), LTG (Little Theatre Guild) and ACE (Arts Council England). The Questors Youth Theatre (QYT) has a Child Protection Policy Statement, Child Protection Procedures and a written code of behaviour for all staff. All tutors and teaching assistants working with our young people are nowadays checked through the DBS (Disclosure and Barring Service). 

## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 

00469253 (England and Wales) 

## **Registered Charity number** 

207516 

## **Registered office** 

The Questors Theatre 12 Mattock Lane Ealing London W5 5BQ 

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**THE QUESTORS LIMITED (REGISTERED NUMBER: 00469253)** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022** 

## **Trustees** 

D Emmet A J Arnold-Forster R Mead M Weaver D King R E Hobson R W Eagle S A J Higginson P R Sheahan J T Welch 

## **Company Secretary** 

D Emmet 

## **Auditors** 

Johnsons, Chartered Accountants Statutory Auditor 1-2 Craven Road Ealing London W5 2UA 

## **Executive Director** 

Andrea Bath 

## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** 

The trustees (who are also the directors of The Questors Limited for the purposes of company law) are responsible for preparing the Report of the trustees 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 which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charity SORP; 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. 

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

In so far as the trustees are aware: 

- there is no relevant audit information of which the charitable company's auditors are unaware; and 

- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. 

## **AUDITORS** 

The auditors, Johnsons, Chartered Accountants, will be proposed for re-appointment at the forthcoming Annual General Meeting. 

Report of the trustees, incorporating a Strategic report, approved by order of the board of trustees, as the company directors, on ............................................. and signed on the board's behalf by: 

........................................................................ D Emmet - Trustee 

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**REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE QUESTORS LIMITED** 

## **Opinion** 

We have audited the financial statements of The Questors Limited (the 'charitable company') for the year ended 31 August 2022 which comprise the Statement of financial activities, the Balance sheet, the Cash flow statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

In our opinion the financial statements: 

- give a true and fair view of the state of the charitable company's affairs as at 31 August 2022 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## **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 charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'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** 

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 

## **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 Report of the independent auditors 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 this gives rise to a material misstatement in the financial statements themselves. 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. 

## **Opinions on other matters prescribed by the Companies Act 2006** 

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

- the information given in the Report of the trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the Report of the trustees has been prepared in accordance with applicable legal requirements. 

## **Matters on which we are required to report by exception** 

In the light of the 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 Report of the trustees. 

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

- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of trustees' remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit. 

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## **REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE QUESTORS LIMITED** 

## **Responsibilities of trustees** 

As explained more fully in the Statement of trustees' responsibilities, 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 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 charitable company or to cease operations, or have no realistic alternative but to do so. 

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**REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE QUESTORS LIMITED** 

## **Our 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 a Report of the independent auditors 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. 

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

## **Extent to which the audit was considered capable of detecting irregularities, including fraud** 

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. 

## **Identification and assessment of potential risks** 

In identifying and assessing potential risks related to irregularities in identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we conducted: 

- Discussions with those charged with governance and those who review the charitable company's internal ethics and compliance reporting summaries, including those concerning investigations; 

- Enquiries of management, including obtaining and reviewing supporting documentation, concerning the charitable company's material policies and procedures relating to identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance relating to the detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; and the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations; 

- Our reviews of the charitable company's remuneration policies, and key drivers for remuneration and bonus levels; 

- Our assessment of the influence of public officials over the operations of the charitable company including any material transactions with related parties and key individuals; and 

- Discussions among the engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. The engagement team includes the Audit Director and staff who have extensive experience of working with companies in the same sectors as the charitable company, and this experience was relevant to the discussion about where fraud risks may arise. 

## **Risks arising from legal and regulatory frameworks** 

We are also required to perform specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks in which the charitable company operates, focusing on provisions of those areas that had a direct effect on the determination of material amounts and disclosures in the financial statements. 

We did not identify any material audit matters related to the potential risk of fraud or non-compliance with laws and regulations from our work: 

(i)   Reviewing management override of controls; 

(ii)  Testing the appropriateness of journal entries and other accounting adjustments; 

(iii)  Assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and 

(iv) Evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. 

We also communicated our assessment of the relevant laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. 

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 Report of the Independent Auditors. 

Page 10 



## **REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE QUESTORS LIMITED** 

## **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 the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. 

Edmund Cartwright FCCA MAAT (Senior Statutory Auditor) for and on behalf of Johnsons, Chartered Accountants Statutory Auditor 1-2 Craven Road Ealing London W5 2UA Date: ............................................. 

Page 11 



**THE QUESTORS LIMITED** 

## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2022** 

|Unrestricted<br>fund<br>Notes<br>£<br>**INCOME AND ENDOWMENTS FROM**<br>Donations, grants and legacies<br>2<br>147,931<br>**Charitable activities**<br>Theatrical activities<br>486,794<br>Other trading activities<br>3<br>45,154<br>Investment income<br>4<br>2,319<br>Other income<br>6<br>108,180<br>**Total**<br>790,378<br>**EXPENDITURE ON**<br>**Charitable activities**<br>7<br>Theatrical activities<br>651,539<br>Net gains/(losses) on investments<br>-<br>**NET INCOME/(EXPENDITURE)**<br>138,839<br>**RECONCILIATION OF FUNDS**<br>Total funds brought forward<br>554,530<br>**TOTAL FUNDS CARRIED FORWARD**<br>693,369|Restricted<br>funds<br>£<br>7,816<br>-<br>200<br>198<br>-<br>8,214<br>7,196<br>(1,144)<br>(126)<br>105,045<br>104,919|2022<br>Total<br>funds<br>£<br>155,747<br>486,794<br>45,354<br>2,517<br>108,180<br>798,592<br>658,735<br>(1,144)<br>138,713<br>659,575<br>798,288|2021<br>Total<br>funds<br>£<br>186,743<br>240,523<br>439<br>5,205<br>-<br>432,910<br>514,497<br>(172)<br>(81,759)<br>741,334<br>659,575|
|---|---|---|---|



The notes form part of these financial statements 

Page 12 



**THE QUESTORS LIMITED (REGISTERED NUMBER: 00469253)** 

## **BALANCE SHEET 31 AUGUST 2022** 

|Notes<br>**FIXED ASSETS**<br>Tangible assets<br>13<br>Investments<br>14<br>**CURRENT ASSETS**<br>Debtors<br>15<br>Cash at bank and in hand<br>**CREDITORS**<br>Amounts falling due within one year<br>16<br>**NET CURRENT ASSETS**<br>**TOTAL ASSETS LESS CURRENT LIABILITIES**<br>**NET ASSETS**<br>**FUNDS**<br>19<br>Unrestricted funds<br>Restricted funds<br>**TOTAL FUNDS**|Unrestricted<br>fund<br>£<br>203,391<br>-<br>203,391<br>62,479<br>583,097<br>645,576<br>(155,597)<br>489,979<br>693,370<br>693,370|Restricted<br>funds<br>£<br>27,714<br>9,870<br>37,584<br>-<br>67,334<br>67,334<br>-<br>67,334<br>104,918<br>104,918|2022<br>Total<br>funds<br>£<br>231,105<br>9,870<br>240,975<br>62,479<br>650,431<br>712,910<br>(155,597)<br>557,313<br>798,288<br>798,288<br>693,370<br>104,918<br>798,288|2021<br>Total<br>funds<br>£<br>252,594<br>11,013<br>263,607<br>96,323<br>420,998<br>517,321<br>(121,353)<br>395,968<br>659,575<br>659,575<br>554,530<br>105,045<br>659,575|
|---|---|---|---|---|



The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 

............................................. D King - Trustee 

The notes form part of these financial statements 

Page 13 



**THE QUESTORS LIMITED** 

## **CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2022** 

|||2022|2021|
|---|---|---|---|
||Notes|£|£|
|**Cash flows from operating activities**||||
|Cash generated from operations|1|233,882|(81,597)|
|Net cash provided by/(used in) operating activities||233,882|(81,597)|
|**Cash flows from investing activities**||||
|Purchase of tangible fixed assets||(6,966)|(9,247)|
|Interest received||2,320|4,950|
|Dividends received||197|255|
|Net cash used in investing activities||(4,449)|(4,042)|
|||||
|**Change in cash and cash equivalents in**||||
|**the reporting period**||229,433|(85,639)|
|**Cash and cash equivalents at the**||||
|**beginning of the reporting period**||420,998|506,637|
|**Cash and cash equivalents at the end of**||||
|**the reporting period**||650,431|420,998|



The notes form part of these financial statements 

Page 14 



**THE QUESTORS LIMITED** 

## **NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2022** 

## **1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES** 

|**ACTIVITIES**|||
|---|---|---|
|**Net income/(expenditure) for the reporting period (as per the**<br>**Statement of financial activities)**<br>**Adjustments for:**<br>Depreciation charges<br>Losses on investments<br>Interest received<br>Dividends received<br>Decrease/(increase) in debtors<br>Increase in creditors<br>**Net cash provided by/(used in) operations**|2022<br>£<br>138,713<br>28,455<br>1,143<br>(2,320)<br>(197)<br>33,844<br>34,244<br>233,882|2021<br>£<br>(81,759)<br>32,519<br>172<br>(4,950)<br>(255)<br>(72,205)<br>44,881|
|||(81,597)|



## 2. **ANALYSIS OF CHANGES IN NET FUNDS** 

||At 1/9/21|Cash flow|At 31/8/22|
|---|---|---|---|
||£|£|£|
|**Net cash**||||
|Cash at bank and in hand|420,998|229,433|650,431|
||420,998|229,433|650,431|
|**Total**|420,998|229,433|650,431|



The notes form part of these financial statements 

Page 15 



**THE QUESTORS LIMITED** 

**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022** 

## **1. ACCOUNTING POLICIES** 

## **BASIS OF PREPARING THE FINANCIAL STATEMENTS** 

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. 

## **JUDGEMENTS & ESTIMATION UNCERTAINTY** 

In the application of the company's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. 

The following judgements have had the most significant effect on amounts recognised in the financial statements: 

Depreciation, which is based on the estimated useful life of the fixed assets. The level of estimation and uncertainty in connection with this estimate is low. 

## **INCOMING RESOURCES** 

Income comprises the value of goods and services supplied by the charity and subscriptions, exclusive of value added tax. Subscriptions received for membership extending into the next accounting year are accounted for on a pro rata basis by way of deferred income. Voluntary income and donations are accounted for on an accruals basis. Any income from fund-raising is shown gross. Where goods and services have been donated, no income is recognised where there is no financial cost borne by a third party. Legacies are accounted for as incoming resources either upon receipt or where the receipt of the legacy is known. This will be once confirmation has been received from the representatives of the estate that payment of the legacy will be made or property transferred once all conditions attached to the legacy have been fulfilled. 

An insurance claim is recognised when the charity has established its entitlement to the reimbursement of the insured loss, the receipt of that reimbursement is virtually certain, and its amount can be measured reliably. 

Receipt is virtually certain when an offer of settlement is received from the insurer. The insurance settlement is recognised at the fair value receivable, which will normally be the settlement amount agreed with the insurer if this is available at the reporting date. 

## **RESOURCES EXPENDED** 

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to each category. Expenditure is stated excluding value added tax. As the charity makes value added tax exempt supplies, there is an element of the VAT in expenditure, which is irrecoverable and this is shown within the expenditure for charitable activities. Fund-raising expenditure comprises costs incurred in the process of obtaining financial contributions towards the charity's work from people and organisations. This includes the cost of advertising for donations and the staging of special fund-raising events. 

## **ALLOCATION AND APPORTIONMENT OF COSTS** 

Support costs are apportioned to support the income activities of the theatre based on time and occupancy. Following a review of the apportionment of costs during the year ended 31 August 2019 office staff costs directly relating to charitable activities were taken out of support costs and re-allocated to the direct cost of those charitable activities. 

## **TANGIBLE FIXED ASSETS** 

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. 

Freehold land and buildings - 5% on reducing balance Facilities for disabled - Straight line over 10 to 12 years Fixtures fittings & equipment - 20% on reducing balance Computer equipment - 20% on cost 

The Renaissance Project was a major refurbishment and improvement of The Questors facilities. The cost of the Renaissance Project has been fully depreciated. 

Page 16 

continued... 



**THE QUESTORS LIMITED** 

**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022** 

## **1. ACCOUNTING POLICIES - continued** 

## **TANGIBLE FIXED ASSETS** 

The fixed assets included in the Renaissance Project category were purchased out of a restricted grant. This allowed for the benefactor to claw back part of the grant on a reducing scale over a period of 20 years, should the Charity not comply with the terms of the grant. This period expired at 31 August 2017 and there is no longer any restriction to this asset. 

## **TAXATION** 

The charity is exempt from corporation tax on its charitable activities. 

## **FUND ACCOUNTING** 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. 

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 

## **LEASING COMMITMENTS** 

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are included in the Statement of Financial Activities as incurred. 

## **GOVERNMENT GRANTS** 

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability. 

## **2. DONATIONS, GRANTS AND LEGACIES** 

|Legacies<br>Government grant<br>Donation from Grapevine Club<br>Donations from individuals<br>Grants received, included in the above, are as follows:<br>Coronavirus job retention scheme grant<br>Ealing Council grants<br>**3.**<br>**OTHER TRADING ACTIVITIES**<br>Sundry and special events<br>Grapevine licence fee|2022<br>£<br>105,002<br>6,000<br>16,000<br>28,745<br>155,747<br>2022<br>£<br>-<br>6,000<br>6,000<br>2022<br>£<br>354<br>45,000<br>45,354|2021<br>£<br>512<br>99,261<br>6,000<br>80,970|2021<br>£<br>512<br>99,261<br>6,000<br>80,970|
|---|---|---|---|
|||186,743||
||||2021<br>£<br>43,333<br>55,928|
||||99,261|
||||2021<br>£<br>439<br>-|
||||439|



Page 17 

continued... 



**THE QUESTORS LIMITED** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022** 

|**4.**|**INVESTMENT INCOME**||||
|---|---|---|---|---|
||||2022|2021|
||||£|£|
||Income on listed investment||197|255|
||Deposit account interest||2,320|4,950|
||||2,517|5,205|
|**5.**|**INCOME FROM CHARITABLE ACTIVITIES**||||
||||2022|2021|
|||Activity|£|£|
||Membership subscriptions|Theatrical activities|43,940|44,429|
||Income from productions|Theatrical activities|132,473|23,341|
||Income from education|Theatrical activities|148,193|60,284|
||Hiring and letting|Theatrical activities|162,188|112,469|
||||486,794|240,523|
|**6.**|**OTHER INCOME**||||
||||2022|2021|
||||£|£|
||Insurance claim||108,180|-|
||£108,180 was received in settlement of an insurance claim for losses incurred in 2019/20|||due to Covid|
||restrictions.||||
|**7.**|**CHARITABLE ACTIVITIES COSTS**||||



|**7.**|**CHARITABLE ACTIVITIES COSTS**||||
|---|---|---|---|---|
||||Support||
|||Direct|costs (see||
|||Costs|note 8)|Totals|
|||£|£|£|
||Theatrical activities|551,007|107,728|658,735|
|**8.**|**SUPPORT COSTS**||||
||||Governance||
|||Other|costs|Totals|
|||£|£|£|
||Theatrical activities|86,513|21,215|107,728|
|**9.**|**NET INCOME/(EXPENDITURE)**||||
||Net income/(expenditure) is stated after charging/(crediting):||||
||||2022|2021|
||||£|£|
||Auditors' remuneration||10,700|10,700|
||Depreciation - owned assets||28,455|32,520|
||Operating lease rentals||1,868|1,868|
||Pension costs||10,343|10,632|



Page 18 

continued... 



**THE QUESTORS LIMITED** 

**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022** 

## **10. TRUSTEES' REMUNERATION AND BENEFITS** 

There were no trustees' remuneration or other benefits for the year ended 31 August 2022 nor for the year ended 31 August 2021. 

## **TRUSTEES' EXPENSES** 

There were no trustees' expenses paid for the year ended 31 August 2022 nor for the year ended 31 August 2021. 

## **11. STAFF COSTS** 

|||2022||2021|
|---|---|---|---|---|
|||£||£|
|Wages and salaries||228,683||236,337|
|Social security costs||10,322||5,204|
|Pension costs||10,343||10,632|
||||||
||||||
|||249,348||252,172|
||||||
|The average monthly number of employees during the year was as follows:<br>Management & Administration<br>Teaching staff||2022<br>7<br>13<br>20||2021<br>8<br>15<br>23|



No employees received emoluments in excess of £60,000. 

## **12.** 

## **COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** 

|Unrestricted<br>fund<br>£<br>**INCOME AND ENDOWMENTS FROM**<br>Donations, grants and legacies<br>181,301<br>**Charitable activities**<br>Theatrical activities<br>240,523<br>Other trading activities<br>439<br>Investment income<br>4,950<br>**Total**<br>427,213<br>**EXPENDITURE ON**<br>**Charitable activities**<br>Theatrical activities<br>507,676<br>Net gains/(losses) on investments<br>-<br>**NET INCOME/(EXPENDITURE)**<br>(80,463)<br>**RECONCILIATION OF FUNDS**<br>Total funds brought forward<br>634,993<br>**TOTAL FUNDS CARRIED FORWARD**<br>554,530|Restricted<br>funds<br>£<br>5,442<br>-<br>-<br>255<br>5,697<br>6,821<br>(172)<br>(1,296)<br>106,341<br>105,045|Total<br>funds<br>£<br>186,743<br>240,523<br>439<br>5,205|
|---|---|---|
|||432,910|
|||514,497|
|||(172)|
|||(81,759)<br>741,334|
|||659,575|



Page 19 

continued... 



**THE QUESTORS LIMITED** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022** 

## **13. TANGIBLE FIXED ASSETS** 

|Freehold<br>land and<br>buildings<br>£<br>**COST**<br>At 1 September 2021<br>624,545<br>Additions<br>4,531<br>At 31 August 2022<br>629,076<br>**DEPRECIATION**<br>At 1 September 2021<br>469,943<br>Charge for year<br>7,956<br>At 31 August 2022<br>477,899<br>**NET BOOK VALUE**<br>At 31 August 2022<br>151,177<br>At 31 August 2021<br>154,602<br>Renaissance<br>Project<br>£<br>**COST**<br>At 1 September 2021<br>853,053<br>Additions<br>-<br>At 31 August 2022<br>853,053<br>**DEPRECIATION**<br>At 1 September 2021<br>853,053<br>Charge for year<br>-<br>At 31 August 2022<br>853,053<br>**NET BOOK VALUE**<br>At 31 August 2022<br>-<br>At 31 August 2021<br>-<br>**14.**<br>**FIXED ASSET INVESTMENTS**<br>**MARKET VALUE**<br>At 1 September 2021<br>Listed Investments Revaluation<br>At 31 August 2022<br>**NET BOOK VALUE**<br>At 31 August 2022<br>At 31 August 2021|Facilities<br>Fixtures<br>for<br>fittings<br>disabled<br>& equipment<br>£<br>£<br>109,435<br>282,657<br>-<br>-<br>109,435<br>282,657<br>103,612<br>195,678<br>486<br>17,396<br>104,098<br>213,074<br>5,337<br>69,583<br>5,823<br>86,979<br>Computer<br>equipment<br>Totals<br>£<br>£<br>19,213<br>1,888,903<br>2,435<br>6,966<br>21,648<br>1,895,869<br>14,023<br>1,636,309<br>2,617<br>28,455<br>16,640<br>1,664,764<br>5,008<br>231,105<br>5,190<br>252,594<br>Listed<br>investments<br>£<br>11,013<br>(1,143)<br>9,870<br>9,870<br>11,013|
|---|---|



There were no investment assets outside the UK. 

Page 20 

continued... 



**THE QUESTORS LIMITED** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022** 

## **14. FIXED ASSET INVESTMENTS - continued** 

Cost or valuation at 31 August 2022 is represented by: 

|Valuation in 2022<br>The historic cost of listed investments is £10,030.<br>**15.**<br>**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Trade debtors<br>Other debtors<br>Prepayments and accrued income<br>**16.**<br>**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Trade creditors<br>Social security and other taxes<br>VAT<br>Other creditors<br>Accrued expenses<br>Deferred income||
|---|---|



## **17. LEASING AGREEMENTS** 

The following operating lease payments are committed to be paid within one year: 

||2022|2021|
|---|---|---|
||£|£|
|Expiring:|||
|Between one and five years|1868|1,868|
||||



## **18. SECURED DEBTS** 

On 26 May 2022 the Charity Bank provided drawdown facility of £600,000 to The Questors Ltd. This facility is secured by a legal charge dated 15 December in favour of the bank. The first drawdown was not made until after 31 August 2022. 

## **19. MOVEMENT IN FUNDS** 

|**Unrestricted funds**<br>General fund<br>**Restricted funds**<br>Renewal fund<br>Nevile and Julie Cruttenden fund<br>**TOTAL FUNDS**|At 1/9/21<br>£<br>554,530<br>83,053<br>21,992<br>105,045<br>659,575|Net<br>movement<br>in funds<br>£<br>138,840<br>1,790<br>(1,917)<br>(127)<br>138,713|At<br>31/8/22<br>£<br>693,370<br>84,843<br>20,075|
|---|---|---|---|
||||104,918|
||||798,288|



Page 21 

continued... 



**THE QUESTORS LIMITED** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022** 

## **19. MOVEMENT IN FUNDS - continued** 

Net movement in funds, included in the above are as follows: 

|**Unrestricted funds**<br>General fund<br>**Restricted funds**<br>Renewal fund<br>Nevile and Julie Cruttenden fund<br>**TOTAL FUNDS**<br>**Comparatives for movement in funds**<br>**Unrestricted funds**<br>General fund<br>**Restricted funds**<br>Renewal fund<br>Nevile and Julie Cruttenden fund<br>**TOTAL FUNDS**|Incoming<br>resources<br>£<br>790,378<br>7,215<br>999<br>8,214<br>798,592|Resources<br>expended<br>£<br>(651,538)<br>(5,425)<br>(1,772)<br>(7,197)<br>(658,735)<br>At 1/9/20<br>£<br>634,993<br>85,066<br>21,275<br>106,341<br>741,334|Gains and<br>Movement<br>losses<br>in funds<br>£<br>£<br>-<br>138,840<br>-<br>1,790<br>(1,144)<br>(1,917)<br>(1,144)<br>(127)<br>(1,144)<br>138,713<br>Net<br>movement<br>At<br>in funds<br>31/8/21<br>£<br>£<br>(80,463)<br>554,530<br>(2,024)<br>83,042<br>728<br>22,003<br>(1,296)<br>105,045<br>(81,759)<br>659,575|
|---|---|---|---|



Comparative net movement in funds, included in the above are as follows: 

||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|
||resources|expended|losses|in funds|
||£|£|£|£|
|**Unrestricted funds**|||||
|General fund|427,213|(507,676)|-|(80,463)|
|**Restricted funds**|||||
|Renewal fund|4,442|(6,466)|-|(2,024)|
|Nevile and Julie Cruttenden fund|1,255|(355)|(172)|728|
||5,697|(6,821)|(172)|(1,296)|
|**TOTAL FUNDS**|432,910|(514,497)|(172)|(81,759)|



At the year end, there were two restricted funds: 

a) The Renewal Fund represents funds raised towards the refurbishment of the Charity's premises and facilities. b) The  Nevile and Julie Cruttenden Fund exists to support students on the two-year acting course; 

Page 22 

continued... 



**THE QUESTORS LIMITED** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022** 

## **20. EMPLOYEE BENEFIT OBLIGATIONS** 

The company operates a "Selective Pension Plan" whereby the company pays a defined contribution for eligible employees into the employee's own personal pension scheme. The company also provides a personal pension scheme facility entitled The Questors 2 Grouped Individual Retirement Plan no 70003-91R-GPP. The pension charge represents contributions payable by the company for the year. The company's liability is limited to the amount of the contribution. The liability for meeting future pension payments rests solely with the employee's pension plan provider. There was an amount of £1,735 unpaid at the year end. 

## **21. CAPITAL COMMITMENTS** 

||2022|2021|
|---|---|---|
||£|£|
|Contracted but not provided for in the financial statements|286,235|-|
||||



## **22. RELATED PARTY DISCLOSURES** 

The Questors Grapevine Club is a separate entity which occupies part of the Theatre on the basis of a yearly licence fee. In the year ended 31 August 2022 the income generated from the licence fee is £45,000 (2021: £nil). The Club donates its surplus income to The Questors Theatre amounting to £16,000 (2021: £6,000). 

## **23. LEGAL STATUS OF THE CHARITY** 

The Charitable Company is controlled by a Board of Trustees all of whom are Directors and Trustees of the Charity. 

The liability of the members is limited to a guarantee of 5p per member in the event of an insolvent winding up. 

Page 23