2022-03-31-accounts

			Page
Reference and administrative	details ofthe Theatre, Its Trustees and advisers		1-2
Chairman's statement
Trustees' report			4-12
Independent auditors' report	on the financial	statements	13 - 16
Consolidated statement offinancia activities			17
Consolidated balance sheet			18
Theatre balance sheet
Consolidated statement ofcash flows			20
Notes to the financial statements			21 - 51

Trustees	Mr D P Hanson,	Chair (appointed 17June 2021)
	Mr SFergusson,	Chair (resigned 30September 2021)
	Cllr R M J Bailey
	Mr P Carvell
	Mr N Dodzo (resigned 1 January 2022)
	Mr W H Glen LLB(resigned 31 December 2021)
	Ms A Hay
	Mrs SA Bates
	Mr C T Huggins	(appointed 10July 2021)
	Mr A F Pollock
	Ms KJ Reid BA	Hone (resigned 31 December 2021)
	Cllr A C Skipper
	Mrs R LWarwick	(appointed 20 July 2021)
	Mr J J Wilby
	Ms N C Daley (appointed 17June 2021)
	Mr C A Bell (appointed 30September 2021)
	Mrs LA Elliot (appointed 1 January 2022)
	Mr C M Campbell	(appointed 1 January 2022)
	Miss TG Sinden	(appointed 30September 2021)

				Unrestricted	Restricted	Designated	Total	Total
				funds	funds	funds	funds	funds
				2022	2022	2022	2022	2021
			Note	E	E	E	E
Income and
endowments		from:
Donations and		legacies		1,611,255	2,906,960		4,618,205	6,150,808
Charitable activities				2,017,398			2,017,398	146,482
Other trading	activities			1,067,351			1,067,351	132,887
Investments				276			276	383
Total Income		and
endowments				4,696,280	2,906,950		7,603,230	6,430,560
Expenditure	on:
Raising funds			8	997,574			997574	462 503
Charitable activities			9	3,096,656	1,822,909	170,378	5,089,943	3,064,016
Total expenditure				4,094,230	1,822,909	170,378	6,087,517	3,526,519
Net (expenditure)
/Income before
transfers				602,060	1,084,041	(170,378)	1,51S,713	2,904,041
Transfers between
funds			20	(669,918)	1,156	668,762
Net movement		In
funds				(67,868)	1,085,197	498,384	1,516,713	2,904,041
Net movement		in
funds				(67,868)	1,085,197	498,384	1,616,713	2,904,041
Reconciliation		of
funds:
Total funds brought
forward				584,284	12,234,721	1,980,319	14,799,324	11,895,283
Net movement		in funds		(67,868)	1,085,197	498,384	1,516,713	2,904,041
Total funds carried
forward				616,416	13,319,918	2,478,703	16,315,037	14,799,324

				2022		2021
		Note		E		E
Fixed assets
Tangible assets		14		14,736,961		14,054,547
Current assets
Stocks		16	23,416		27,770
Debtors		17	1,167,676		770,555
Cash at bank and in hand			3,094,007		2,334,416
			4,274,998		3,132,741
Creditors: amounts	falling due within one
year		18	(2,146,222)		(1,248,098)
Net current assets				2,129,776		1,884,643
Total assets less current liabilities				16,866,727		15,939,190
Creditors: amounts	falling due after more
than one year		19		(661,690)		(1,139,866)
Total net assets				16,316,037		14,799,324
Charity funds
Designated funds		20		2,478,703		1,980,319
Restricted funds		20		13,319,918		12,234,721
Unrestricted funds
Generalfunds				616,416		584,284
		20
Totalfunds				16,316,037		14,799,324

				2022		2021
		Note		E		E
Fixed assets
Tangible assets		14		14,736,951		14,054,547
Investments		15		4		4
				14,736,956		14,054,551
Current assets
Stocks		15	7,319		20,526
Debtors		17	1,399,607		1,015,997
Cash at bank and in hand			2,768,578		2,201,521
			4,175,504		3,239,044
Creditors: amounts	falling due within one
year		18	(1,961,307)		(1,199,144)
Net current assets				2,214,197		2,039,900
Total assets less current liabilities				16,961,162		15,094,451
Creditors: amounts	falling due afier more
than one year		19		(561,690)		(1,139,866)
Total net assets				16,399,462		14,954,585
Charity funds
Designated funds		20		2,478,703		1,980,319
Restricted funds		20		13,319,918		12,234,721
Unrestricted funds		20		600,841		739,545
Total funds				16,399,462		14,954,585

						2022	2021
					Note	6	6
Cash flows from operating		activities
Net cash used in operating	activities				23	2,657,969	3,196,456
Cash flows from investing		activities
Interest received						276	383
Purchase oftangible fixed assets						(1,334,947)	(2,474,272)
Net cash used In Investing		activities				(1,334,671)	(2,473,889)
Cash flows from Rnancing		activities
Cash inflows from new borrowing							1,000,000
Repayments of borrowing						(653,282)	(15,440)
Interest paid						(10,435)	(12,000)
Net cash (used in)/provided		by Rinanclng		activities		(563,717)	972,560
Change in cash and cash		equivalents	In	the year		759,581	1,695,127
Cash and cash equivalents		at the beginning		ofthe year		2,334,416	639,289
Cash and cash equivalents		at the end of		the year	24	3,093,997	2,334,416
The notes on pages 21 to 51 form part ofthese financial statements

				Unrestricted	Restricted	Total
				funds	funds	funds
				2021	2021	2021
				E		E
Donations
Donations				22,784		22,784
Capital development			project 2020		233,243	233,243
Grants
Coventry City Council				595,052		595,052
Arts Council	England			959,552	1,128,624	2,088,176
Capital development			funding 2020		2,604,201	2,604,201
Government	grants
Coronavirus	Job	Retention Scheme income		549,595		549,595
Local Restrictions		Support Grant income		32,757		32,757
Retail, Hospitality		and	Leisure Grant Fund income	25,000		25,000
Total 2020				2,184,740	3,966,068	6,150,808

	Unrestricted	Total
	funds	funds
	2022	2022
	E
Boxoflice	1,851,330	1,851,330
Grant and other income	166,068	166,068
Total 2022	2,017,398	2,017,398
	Unrestricted	Total
	funds	funds
	2021	2021
	E	E
Boxoffice	72,026	72,026
Grant and other income	74,456	74,456
Total 2021	146,482	146,482

		Unrestricted	Total
		funds	funds
		2022	2022
		8	8
Conferencing		74,188	74,188
Ice cream and merchandise		65,190	65,190
Production	services	381,603	381,603
Drama classes and workshops		14,140	14,140
Catering		532,230	532,230
Total2022		1,067,351	1,067,351

		Unrestricted	Total
		funds	funds
		2021	2021
		6	6
Conferencing		6,219	6,219
Icecream	and merchandise	1,677	1,677
Production	services	20,773	20,773
Drama classes and workshops		4,643	4,643
Catering		99,575	99,575
		132,887	132,887

			Unrestricted	Total
			funds	funds
			2022	2022
			E	E
	Interest receivable		276	276
			Unrestricted	Total
			funds	funds
			2021	2021
			E	E
	Interest receivable		383	383
8.	Expenditure	on raising funds
	Costs of raising funds

					Unrestricted	Total
					funds	funds
					2022	2022
					E	E
Fundraising	cost	ofgrants	and	donations	4,590	4,690
					Unrestricted	Total
					funds	funds
					2021	2021
					E	E
Fundraising	cost	ofgrants	and	donations	4,120	4,120

				Unrestricted	Total
				funds	funds
				2022	2022
				E	F
Conference	costs			5,931	5,931
Icecream and merchandise			costs	13,618	13,618
Production services costs				314,792	314,792
Drama and	workshop	costs		1,309	1,309
Catering costs				249,480	249,480
Other staff costs				2,363	2,363
Premises costs				43,549	43,549
Other costs				7,226	7,226
Wages and	salaries			331,448	331,448
Social security costs				19,258	19,258
				988,974	988,974
				Unrestricted	Total
				funds	funds
				2021	2021
				E	E
Conference	costs			487	487
Ice cream and merchandise			costs	3,582	3,582
Production	services	costs		34,500	34,500
Drama and	workshop	costs		1,004	1,004
Catering costs				71,344	71,344
Other staff	costs			545	545
Premises costs				31,220	31,220
Other costs				2,191	2,191
Wages and	salaries			280,856	280,856
Social security costs				23,109	23,109
				448,838	448,838

		Unrestricted	Total
		funds	funds
		2022	2022
		E	8
Cost ofsales	staff costs
Administration	expenses	4,010	4,010
		Unrestricted	Total
		funds	funds
		2021	2021
		6	F
Cost ofsales	staff costs	9,545	9,545

		Unrestricted	Restricted	Designated
		funds	funds	funds	Total
		2022	2022	2022	2022
		F	6	6
Operational	Theatre	3,096,656	1,822,909	170,378	6,089,943
		Unrestricted	Restricted	Designated
		funds	funds	funds	Total
		2021 f	2021 8	2021 E	2021 8
Operational	Theatre	2,121,430	904,687	37,899	3,064,016

		Staff costs	Depreciation	Other costs	Total
		2022	2022	2022	2022
		E	F	F	E
Operational	Theatre	2,016,530	782,428	2,290,985	6,089,943
		Staff costs	Depreciation	Other costs	Total
		2021	2021	2021	2021
		E	E	E	E
Operational	Theatre	1,647,976	542,082	873,958	3,064,016

			Support	Total
		Direct costs	costs	funds
		2022	2022	2022
		E	E	E
Operational	Theatre	4,220,679	869,264	5,089,943
			Support	Total
		Directcosts	costs	funds
		2021	2021	2021
		E	E	E
Operational	Theatre	2,464,537	599,480	3,064,017

					Total	Total
					funds	funds
					2022	2021
					6	6
Wages and	salaries				1,644,971	1,303,991
Depreciation					742,246	509,691
Production	costs				1,488,630	276,227
Community	education		projects		68,679	10,083
Front of house costs					4,374	4,949
Production/activity		marketing		and advertising	261,929	62,855
Premises costs					99,416	78,572
Interest payable					10,435	12,000
Professional	and	feasibility costs				206,169
					4,220,679	2,464,537

				Total	Total
				funds	funds
				2022	2021
				6	6
Wages	and	salaries		471,669	343,985
Depreciation				40,183	32,391
Administration		overheads		189,939	104,633
ITcosts				99,970	75,441
Legal and professional			charges	42,668	25,310
Auditors	remuneration			19,179	7,150
Governance		costs		6,766	10,570
				869,264	599,480

Net Income/(e	xpenditure)	xpenditure)
This is stated	after charging:
				2022	2021
				6	6
Depreciation	oftangible	fixed assets:
-owned	by charitable		group	782,428	542,082
Auditors remuneration				8,500	7,150
Operating lease costs				54,842	57,724
				845,770	606,956

Staff costs
								Group	Group	Theatre	Theatre
								2022	2021	2022	2021
								6	F	6
Wages and salaries (including				actors)				2,174,497	1,759,907	1,843,049	1,479,051
Social security and pension costs								192,739	192,034	173,481	168,925
								2,367,236	1,951,941	2,016,630	1,647,976
During the year, the Group recognised termination in respect of employees (2021 - 643,902).See								benefits of6124,025 and note 2.16 for the accounting		redundancy costs ofF8,454 policy regarding employee
benefits. 6132,479 (2021 - ENII) was outstanding								at the balance	sheet date.
The average	number	of	persons		employed		by the	Theatre during the year was		as follows:
										Group	Group
										2022	2021
										No.	No.
Actors and production										53	41
Front of house, catering			and	cleaning						39	29
Marketing										5	6
Administration										10	12
										107	88

rem	uneration and other benefits	was as follows:
					2022	2021
					F.	F.
Mr	W H Glen LLB	Remuneration			49,691	76,684
		Pension contributions		paid	1,741	4,148
		Termination	benefits		38,760
Ms	KJ Raid BA Hone	Remuneration			47,199	67,724
		Pension contributions		paid	1,614	3,973
		Termination	benefits		36,720
Mr	C M Campbell	Remuneration			13,000
		Pension contributions		paid	390
Ms	LAElliot	Remuneration			19,327
		Pension contributions		paid	680

		Long-term		Furniture,
	Freehold	leasehold	Events	equipment	Assets under
	property	property 6	equipment	&vehicles 6	construction	Total 6
Cost or valuation
At 1 April 2021	16,230,062	740,026	506,920	2,244,027	2,139,626	21,859,660
Additions	154,800			95,602	1,214,530	1,464,832
Transfers between
classes	2,119,126				(2,119,126)
At 31 March 2022	18,503,988	740,026	505,920	2,339,529	1,235,029	23,324,492
Depreciation
At 1 April 2021	5,444,700	211,623	605,920	1,642,870		7,805,113
Charge for the year	623,187	14,801		144,440		782,428
At 31 March 2022	6,067,887	226,424	606,920	1,787,310		8,587,541
Net book value
At 31 March 2022	12,436,101	613,602		562,219	1,235,029	14,736,951
At 31 March 2021	10,785,362	528,403		601,157	2,139,625	14,054,547

	Investments
	in
	subsidiary
	companies
Theatre	E
Cost or valuation
At 1 April 2021
At 31 March 2022
Net book value
At 31 March 2022
At 31 March 2021

					Group	Group	Theatre	Theatre
					2022	2021	2022	2021
					E	E	E	E
Materials	and	goods	for	resale	23,416	27,770	7,319	20,526

		Group	Group	Theatre	Theatre
		2022	2021	2022	2021
		E	E	E	E
Due within one year
Trade debtors		567,569	60,273	450,888	29,226
Amounts owed by group undertakings				434,790	282,992
Other debtors		206,024	178,001	183,304	178,001
Prepayments	and accrued income	383,982	532,281	330,626	526,778
		1,167,575	770,555	1,399,607	1,016,997

Creditors:	Amounts falling due	within one	year
			Group	Group	Theatre	Theatre
			2022	2021	2022	2021
			E	E	E	F.
Bank loans and overdraRs				2,789		2,789
Coronavirus Business Interruption		Loan
Scheme			200,000	33,333	200,000	33,333
Coventry	City Council loan		18,913	18,012	18,913	18,012
Trade creditors			652,210	104,613	476,655	95,227
Amounts	owed to group undertakings				2	2
Other taxation and social security			eo,ees	32,384	eo,ees	32,384
Accruals			653,754	836,766	650,370	832,770
Deferred	income		669,790	220,201	555,812	184,627
			2,145,222	1,248,098	1,961,307	1,199,144

was acco	unted for a	s a grant.
				Group	Group	Theatre	Theatre
				2022	2021	2022	2021
				E.	E	E	E
Deferred	income at	1 April 2021		220,201	522,553	184,627	503,887
Resources deferred		during the year		669,790	220,201	565,812	184,527
Amounts	released from previous		periods	(220,201)	(522,553)	(184,627)	(503,857)
				669,790	220,201	655,812	184,627

	Group	Group	Theatre	Theatre
	2022	2021	2022	2021
	E	E	E	E
Bank loans	266,667	956,687	266,667	966,667
Otherloans	165,138	173,199	1S5,138	173,199
Other creditors	129,885		129,886
	551,690	1,139,856	651,690	1,139,866
Included within the above are amounts	falling due as follows:
	Group	Group	Theatre	Theatre
	2022	2021	2022	2021
	E	E	E	E
Between one and two years
Bank loans	200,000	200,000	200,000	200,000
Other loans	19,858	21,643	19,858	21,543
Between two and five years
Bank loans	66,667	500,000	66,667	600,000
Other loans	66,733	62,603	65,733	62,503
Over five years
Bank loans		165,567		166,657
Other loans	69,547	88,953	69,547	88,953

			Group	Group	Theatre	Theatre
			2022	2021	2022	2021
			E	E	E	E
Repayable	by	instalments	69,547	88,953	69,647	88,953
			69,547	88,953	69,547	88,953

Statement offunds	- c	ur	rent ye	ar
								Balance at
				Balance at 1			Transfers	31 March
				April 2021	Income	Expenditure	In/out	2022
				E	F	E	E
Unrestricted funds
General Funds				584,284	4,696/80	(4,094,230)	(669,918)	516,416
Designated funds
Leasehold office buildings			(FA*)	221,488		(7,638)		213,850
Renewals reserve				69,473				69,473
Lighting and sound desks (FA*)			2013	16,986		(6,617)		11,369
Capital development 2007 (FA*)	project			1,015,000				1,015,000
Revenue projects I UK Culture legacy		City of		178,000				178,000
E-Marketing Project				36,000				35,000
Red Lane improvement (FA*)		2013		206,341		(7,163)		199,178
Air cooling project 2012 (FA*)				9,651		(10,011)	4,531	4,171
CNC router project 2015			(FA )	42,380		(7,470)		34,910
Capital redevelopment		project
2020				26,000			(26,000)
Restructuring fund				161,000		(132,479)		28,521
Contingency fund							300,000	300,000
Fixed asset fund (FA')							389,231	389,231
				1,980,319		(170,378)	668,762	2,478,703

						Balance at
		Balance at 1			Transfers	31 March
		April 2021	Income	Expenditure	in/out	2022
		E	F	F-	E	E
Restricted funds
Capital development	project
(FA*)		8,717,901		(277,972)		8,439,929
ERDF - capital grant (FA*)		7,962		(1,992)		e,97o
Capital redevelopment	project
2020 (FA*)		3,388,483	10,733	(336,614)		3,062,602
Jag Pub development	(FA*)		1,108,419		181,885	1,290,304
City of Culture			698,698	(474,082)	81,786	206,401
Culture Recovery Fund (FA*)		120,376	485,100	(326,034)	(153,729)	126,712
Garfield Weston grant			eto,ooo	(401,215)	(108,786)
Paul Hamlyn grant			146,000			146,000
Coventry Building Society			40,000			40,000
F Marks			6,000	(e,ooo)
Sir Barry Jackson			3,000			3,000
		12,234,721	2,906,950	(1,822,909)	1,166	13,319,918
Total offunds		14,799,324	7,603,230	(6,087,617)		16,316,037

							Balance at
			Balance at			Transfers	31 March
			1 April 2020	Income	Expenditure	In/out	2021
			E	E	E	E	E
Unrestricted funds
General Funds			23,575	2,464,492	(2,583,933)	680,150	584,284
Designated funds
Leasehold office buildings (FA*)			229,126		(7,638)		221,488
Renewals reserve			69,473				69,473
Lighting and sound desks 2013 (FA*)			22,603		(5,617)		16,986
Capital development 2007 (FA*)	project		1,015,000				1,015,000
Revenue projects / UK Culture legacy		City of	178,000				178,000
E-Marketing Project			35,000				35,000
Red Lane improvement (FA*)		2013	213,504		(7,163)		206,341
Air cooling project 2012 (FA")			19,662		(10,011)		9,651
CNC router project 2015(FA')			49,850		(7,470)		42,380
Capital redevelopment 2020		project	155,000			(130,000)	25,000
Restructuring fund						161,000	161,000
			1,987,218		(37,899)	31,000	1,980,319

						Balance at
		Balance at			Transfers	31 March
		1 April 2020	Income	Expenditure	In/out	2021
		6	6	9	6	6
Restricted funds
Capital development	project
(FA*)		8,995,873		(277,972)		8,717,901
ERDF - capital grant	(FA*)	9,954		(1,992)		7,962
Jag Pub development	(FA*)	878,663	2,837,444	(327,624)		3,388,483
City of Culture			141,005	(163,852)	22,847
Culture Recovery Fund (FA*)			987,619	(133,247)	(733,997)	120,375
		9,884,490	3,966,068	(904,687)	(711,150)	12,234,721
Total offunds		11,895,283	6,430,560	(3,526,519)		14,799,324

Summary	offunds - current ye	ar
						Balance at
		Balance at 1			Transfers	31 March
		April 2021 6	Income 6	Expenditure 6	in/outf	2022 6
General funds		584,284	4,696,280	(4,094,230)	(669,918)	516,416
Designated	funds	1,980,319		(170,378)	668,762	2,478,703
Restricted	funds	12,234,721	2,906,960	(1,822,909)	1,156	13,319,918
		14,799,324	7,603,230	(6,087,517)		16,316,037
Summary	offunds - prior year
						Balance at
		Balance at			Transfers	31 March
		1 April 2020 K	Income 6	Expenditure 6	in/out 6	2021 5
General funds		23,575	2,464,492	(2,583,933)	680,150	584,284
Designated	funds	1,987,218		(37,899)	31,000	1,980,319
Restricted	funds	9,884,490	3,966,068	(904,687)	(711,150)	12,234,721
		11,895,283	6,430,560	(3,526,519)		14,799,324

Analysis	ofn	et assets between funds -	current year
			Unrestricted	Restricted	Designated	Total
			funds	funds	funds	funds
			2022	2022	2022	2022
			E	E	E	E
Tangible	fixed	assets		12,869,242	1,867,709	14,736,961
Current	assets		3,213,328	450,676	610,994	4,274,998
Creditors	due	within one year	(2,145,222)			(2,146,222)
Creditors	due	in more than one year	(551,690)			(561,690)
Total			516,416	13,319,918	2,478,703	16,315,037

Analysis	ofn	et assets between funds -	prior year
			Unrestricted	Restricted	Designated	Total
			funds	funds	funds	funds
			2021	2021	2021	2021
			E	E	E	E
Tangible	fixed	assets	307,980	12,234,721	1,511,846	14,054,547
Current	assets		2,664,268		468,473	3,132,741
Creditors	due	within one year	(1,248,098)			(1,248,098)
Creditors	due	in more than one year	(1,139,866)			(1,139,866)
Total			584,284	12,234,721	1,980,319	14,799,324

Reconciliati	on of n	et movement	ln fund	s to net cash flow from oper	ating activities
					Group	Group
					2022	2021
						E
Net income	for the year (as per Statement			of Financial Activities)	1,616,713	2,904,041
Adjustments	for:
Depreciation	charges				782,428	542,082
Interest received					(276)	(383)
Interest paid					10,436	12,000
Decrease in	stocks				4,364	10,197
Decrease/(increase)		in debtors			(387,020)	22,469
Increase/(decrease)		in creditors			732,336	(293,950)
Net cash provided		by operating	actlvldes		2,657,969	3,195,456

24.	Analysis	ofcash and cash equivalents
			Group	Group
			2022	2021
				E
	Cash in hand		367,843	145,740
	Cash held	in deposit accounts	2,726,164	2,188,676
	Total cash and cash equivalents		3,093,997	2,334,416
25.	Analysis	ofchanges In net debt

				At 1 April		At 31 March
				2021	Cash flows	2022
						E
				E
Cash	at bank and in hand			2,334,416	769,691	3,094,007
Bank	overdrafts	repayable	on demand	(2,789)	2,789
Debt	due within	1 year		(61,346)	(167,668)	(218,913)
Debt	due aRer 1 year			(1,139,866)	718,061	(421,805)
				1,140,416	1,312,873	2,453,289

				Group	Group	Theatre	Theatre
				2022	2021	2022	2021
				6			6
Contracted	for but not provided		In these
financial	statements
Acquisition	oftangible	fixed assets			50,000		50,000

under no	n~callable operating leases as follows:		py
		Group	Group
		2022	2021
			6
Amounts	payable:
Not later than 1 year		61,864	54,841
Later than	1 year and not later than 5years	183,055	201,909
Later than	5 years	1,260,903	1,293,903
		1,496,812	1,550,653

Names			Company	Company	Registered	office or	Principal		Class of	Class of	Holding
			number		principal place of		activity		shares
					business
Belgrade	Theatre Enterprises		03883084		Belgrade Theatre,		Trading		Ordinary		100%
Limited					Corporation	Street,	subsidiary
					Coventry,
					West Midlands,
					CV1 1GS
Belgrade	Theatre Productions		09268009		Belgrade Theatre,		Production	of	Ordinary		100%
Limited					Corporation	Street,	theatre
					Coventry,		performances
					West Midlands,
					CV1 1GS
Belgrade	Film & Digital Limited		09268085		Belgrade Theatre,		Production	of	Ordinary		100%
					Corporation	Street,	film & digital
					Coventry,		performances
					West Midlands,
					CV1 1GS
The financial		results ofthe subsidiaries		for the year were:
Names					Income	Expenditure		ProfIt for		Net	assetsl
					6			the year		(liabilities)
									6		6
Belgrade	Theatre Enterprises		Limited		1,067,361	(1,001,212)		66,139			(84,426)
Belgrade	Theatre Productions		Limited		1,100,803	(1,100,803)					1
Belgrade	Film & Digital Limited				244,882	(244,882)					1