2021-03-31-accounts

Reports
Referenceandadministrativeinformation	1
Introduction	3
ReportoftheTrustees	6
Independentauditor'sreport	18

Financialstatements
Statementoffinancialactivities	22
Balancesheet	23
Statementofcashflows	24
Principalaccountingpolicies	25
Notestothefinancialstatements	30

	eQueen
President	RobertLindsay
VicePresidents	BillKenwrightCBE
	BarbaraLeigh-Hunt
	SirDerekJacobi
	SirCameronMackintosh
	JohnNettlesOBE
	BillNighy
	SirHowardPanter
	LesliePhillipsOBE
	DameMaggie SmithCH,DBE
HonoraryVicePresidents	PaulGane
	DrDavidHughes
	BarbaraWhatley
BoardofTrustees	SamanthaBond,Chairwoman
	RichardClifford,ViceChair
	GilesWatlingMP,ViceChair
	MichaelBallOBE
	StephanieColeOBE
	JanieDee
	RobertLindsay
	NatashaMcElhone
	DrKeithMcKeeMBBSMRCSLRCP
	DavidMichaels
	MatthewMitchell
	RobertNoble
	PeterPolycarpou
	PauletteRandallMBE
	SamanthaSpiro
	PhilipTalbot
	JonathanWicks
	SirStephenWaley-CohenBt
HonoraryTreasurer	EdwardOliver,ChairmanofFinance
	Committee

HonoraryLegalAdvisor	MartynGowarMAFTII
ConsultingPhysician	DrKeithMcKeeMBBSMRCSLRCP
HonChaplain	Rev'dRichardSyms
Secretary	SharonLomas
Registeredoffice	11GarrickStreet
	London
	WC2E9AR
Auditor	BuzzacottLLP
	130WoodStreet
	London
	EC2V6DL
Bankers	Coutts&Co
	440Strand
	London
	WC2ROQS
Investmentmanagers	QuilterCheviot
	1Kingsway
	London
	WC2B6AN
Solicitors	GowlingsWLGLLP
	4MoreLondonRiverside
	London
	SE12AU

RobertLindsay	President
SamanthaBond	Chairwoman
RichardClifford	Co-ViceChair
GilesWatlingMP	Co-ViceChair
MichaelBallOBE
StephanieColeOBE
JanieDee
NatashaMcElhone
DrKeithMcKeeMBBSMRCSLRCP
DavidMichaels
MatthewMitchell
RobertNoble
PeterPolycarpou
PauletteRandallMBE
SamanthaSpiro
PhilipTalbot
JonathanWicks
SirStephenWaley-CohenBt

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08/12/2021
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13 January 2022

						2021			2020
		Endowment	Restricted		Unrestricted	Total	Endowment	Unrestricted	Total
		funds--—		funds	=funds~"'--funds		funds	funds--	—funds=
		£		£	£	£	£	£	£•
Incomeandendowments
from:
Donationsandlegacies	1	-	1,304,166		637,938	1,942,104	-	769,044	769,044
Fundraisingandevents	2	-		-	104,102	104,102	-	3,616	3,616
Investments	3	281		-	371,560	371,841	358	437,223	437,581
Totalincomeand
endowments		281	1,304,166		1,113,600	2,418,047	358	1,209,883	1,210,241
Expenditureon:
Raisingfunds
Investmentmanagement
costs		-		-	124,595	124,595	-	21,563	21,563
Fundraising		-		-	616	616	-	8,126	8,126
Propertyexpenditure	4	-		-	17,713	17,713	-	27,251	27,251
Charitableactivities	5	-		828,252	399,996	1,228,248	-	432,783	432,783
Totalexpenditure		_-		828,252	542,920	1,371,172	-	489,723	489,723
Netincomebefore
investmentmovements		281		475,914	570,680	1,046,875	358	720,160	720,518
Netgains(losses)on
investments	11	16,361		-	1,981,109	1,997,470	(2,590)	(424,723)	(427,313)
Netmovementinfunds	7	16,642		475,914	2,551,789	3,044,345	(2,232)	295,437	293,205
Reconciliationoffunds:
Totalfundsbroughtforward	17,18,19	33,286		-	13,028,530	13,061,816	35,518	12,733,09312,768,611
Totalfundscarriedforward	17,18,19	49,928		475,914	15,580,319	16,106,161	33,286	13,028,53013,061,816

8 December 2021

	2021	2020
	£	£
Netcashprovidedby(usedin)operatingactivities	521,345	241,303
Cashflowsfrominvestingactivities:
Paymentstoacquiretangiblefixedassets	(71,452)	(3,002)
Proceedsfromthesaleoffixedassets	34,183	-
Paymentstoacquireinvestments	(614,668)	(813,223)
Proceedsfromthesaleofinvestments	651,224	334,439
Investmentincomereceived	371,841	437,581
	371,128	(44,205)
Changeincashandcashequivalentsintheyear	892,473	197,098
Cashandcashequivalentsatthebeginningoftheyear	458,849	261,751
Cashandcashequivalentsattheendoftheyear	1,351,322	458,849
	2021	2020
	£	£
Reconciliationofnetincometonetcashflowfromoperating
activities
Netmovementinfundsfortheyear	3,044,345	293,205
Depreciation	(27,615)	2,997
Investmentincome	(371,841)	(437,581)
Realisedgainsoninvestments	(101,541)	(7,564)
Unrealisedgainsoninvestments	(1,895,929)	434,877
Increaseindebtors	(144,086)	(16,525)
(Decrease)increaseincreditorsincludingpensionliability	18,012	(28,106)
Netcashprovidedby(usedin)operatingactivities	521,345	241,303
	2021	2020
	£	£
Analysisofcashandcashequivalents
Cashatbankandinhand	1,213,760	322,737
Cashheldbyinvestmentmanager	137,562	136,112
Totalcashandcashequivalents	1,351,322	458,849

1	Donations
		Restricted	Unrestricted	Total	Total
		£	£	2021	2020
				£	£
	Charitydonations
	ActingforOthers	—	35,000	35,000	35,000
	Contributionsfromotherbodies	—	41,100	41,100	6,100
	Publicdonations	—	39,422	39,422	50,825
	Legacies	—	433,588	433,588	635,313
	Benefactors	—	88,828	88,828	41,806
	Covid-19relatedappeals:
	TheatreCommunityFund	762,451	—	762,451	—
	FleabagSupportFund	404,302	—	404,302	—
	RTFCovidCrisisFund	137,413	—	137,413	—
	Totaldonationsandlegacies	1,304,166	637,938	1,942,104	769,044

			Total	Total
	Restricted	Unrestricted	2021	2020
	£	£	£	£
LockdownTheatre	—	104,102	104,102	—
ChristmasConcert&party	—	—	—	3,616
Totalfundraisingandevents	—	104,102	104,102	3,616

Investmentincome
			Total	Total
	Endowment	Unrestricted	2021	2020
	£	£	£	£
Depositinterest	-	374	374	940
Dividends	281	109,795	110,076	119,916
Rentreceivable	-	190,549	190,549	302,830
Servicechargesincomereceivable	-	67,245	67,245	10,452
Other	-	3,597	3,597	3,443
Totalinvestmentincome	281	371,560	371,841	437,581

Propertyexpenditure
	Total	Total
	2021	2020
	£	£
Consultancy	13,713	11,250
Directservicechargecosts	9,000	16,001
Fundcontributiontocommonpartsrefurbishment	(5,000)	—
Totalpropertyexpenditure	17,713	27,251

Duringtheyear	welfaregrantstoindividuals	welfaregrantstoindividuals	wereasfollows:
		Support			Support
	Welfare	costs	Total	Welfare	costs	Total
	Grants	(note6)	2021	Grants	(note6)	2020
	£	£	£	£	£	£
From
unrestricted
funds	218,454	181,542	399,996	263,448	169,335	432,783	1
Fromthe
following
restrictedfunds:
.Fleabag
SupportFund	404,302	—	404,302	—	—
.Theatre
Community
Fund	286,538	—	286,538	—	—
.RTF
CovidCrisis
Fund	137,412	—	137,412	—	—
	1,046,706	181,542	1,228,248	263,448	169,335	432,783

Supportcosts
	2021	2020
	£	£
Staffemoluments	106,385	109,728
Buildingexpenses	8,568	9,247
Stationery&telephone	4,262	5,505
Insurance	1,308	1,281
Equipmentmaintenance	15,199	10,572
Lightingandheating	1,324	1,157
Financecharges	3,563	3,471
Depreciation	—	2,997
Publicity&website	191	2,199
Auditor'sremuneration	21,920	12,785
Lossondisposaloffixedassets	6,588	—
Grantcommitteeexpenses	—	1,126
Travellingexpenses	—	635
Legalcosts	1,327	—
Printingandofficeexpenses/Other	10,907	8,632
Totalsupportcosts	181,542	169,335

		2021	2020
		£	£
	Depreciationoftangiblefixedassets	-	2,997
	Auditor'sremuneration
	• Statutoryaudit	19,740	12,720
	• Other	2,340	2,220
8	Staffcosts
		2021	2020
		£	£
	Wagesandsalaries	85,167	91,678
	NationalInsurance	4,089	6,126
	Pensioncosts	17,128	11,924
		106,384	109,728

Tangiblefixedassets
	Freehold	Office
	Property	equipment	Total
	£	£	£
Cost/valuation
At1April2020	1,320,644	34,183	1,354,827
Additions	71,452	—	71,452
Disposals	—	(34,183)	(34,183)
At31March2021	1,392,096	-	1,392,096
Depreciation
At1April2020	—	27,615	27,615
Eliminatedondisposal	—	(27,615)	(27,615)
At31March2021
Netbookvalue
At31March2021	1,392,096	-	1,392,096
At31March2020	1,320,644	6,568	1,327,212

10	Investment_property
		2021	2020
		£	£
	At1April2020andat31March2021	5,779,356	5,779,356

11	Listedinvestments
		2021	2020
		£	£
	Marketvalueat1April	5,584,917	5,533,446
	Add:
	.Acquisitionsatcost	614,668	813,223
	Less:disposalproceeds	(651,224)	(334,439)
	Realisedgain(loss)oninvestments	101,541	7,564
	Netunrealised(losses)gains	1,895,929	(434,877)
	Marketvalueat31March	7,545,831•	5,584,917
	Cashheldbyinvestmentmanagers	137,562	136,112
	Totalmarketvalueincludingcashat31March	7,683,393	5,721,029
	Historicalcostat31March	4,330,625	4,330,625

	Endowment			Endowment
	Funds	Unrestricted	Total	Funds	Unrestricted	Total
	(note18)	Funds	2021	(note18)	Funds	2020
	£	£	£	£	£	£
Investmentanalysis
UKfixedinterest	—	377,704	377,704	—	274,546	274,546
UKequities	49,928	3,453,977	3,503,905	33,286	2,513,636	2,546,924
Overseasequities	—	3,801,784	3,801,784	—	2,711,976	2,711,976
Total	49,928	7,633,465	7,683,393	33,286	5,500,160	5,533,446

12
		2021	2020
		£	£
	Giftaidrecoverable	61,320	8,953
	Otherdebtors	126,441	104,205
	Prepaymentsandaccruedincome	86,698	17,215
		274,459	130,373
13	Creditors:dueinlessthanoneyear
		2021	2020
		£	£
	Amountsfallingduewithinoneyear:
	Othercreditors	34,904	19,246
	Pensionliability(note14)	11,100	11,100
	Accrualsanddeferredincome	102,099	88,645
		148,103	118,991

	2021	2020
	£	£
Dueinlessthanoneyear(note13)	11,100	11,100
Dueingreaterthanoneyear	88,800	99,900
Totalliabilityasat31March	99,900	111,000

6Analysisofne	tassetsbet	weenfund	s
				Total			Total
	Endowment	Restricted	Unrestricted	funds	Endowment	Unrestricted	funds
	Fund	Funds	Funds	2021	Fund	Funds	2020
	£	£	£	£	£	£	£
Tangiblefixedassets	—	—	1,392,096	1,392,096	—	1,327,212	1,327,212
Investmentproperty	—	—	5,779,356	5,779,356	—	5,779,356	5,779,356
Quotedinvestments	49,928	—	7,633,465	7,683,393	33,286	5,687,741	5,721,027
Netcurrentassets	—	475,913	864,203	1,340,116	—	324,120	324,120
Pensionliability	—	—	(88,800)	(88,800)	—	(99,900)	(99,900)
	49,928	475,913	15,580,320	16,106,161	33,286	13,018,529	13,051,815

Unrestrictedfunds
				Net		At31
	At1April 2020	Income	Expenditure	(losses)on invs.	Transfers	March 2021
	£	£	£	£	£	£
Generalfunds	12,917,530	1,113,600	(531,820)	1,981,109	—	15,480,419
Designedfunds:
.PensionFund	111,000	—	(11,100)	—	—	99,900
Totalunrestrictedfunds	13,028,530	1,113,600	(542,920)	1,981,109	—	15,580,319
						At31
	At1April 2019	income	Expenditure	Netgains oninvs.	Transfers	March 2020
	£	£	£	£	£	£
Generalfunds	12,610,993	1,209,883	(478,623)	(424,723)	—	12,917,530
Designedfunds:
.PensionFund	122,100	—	(11,100)	—	—	111,000
Totalunrestrictedfunds	12,733,093	1,209,883	(489,723)	(424,723)	—	13,028,530

Restrictedfunds
				At31
	At1April 2020	Income	Expenditure	March 2021
	£	£	£	£
TheatreCommunityFund	-	762,451	(286,537)	475,914
FleabagSupportFund	-	404,302	(404,302)	-
RTFCovidgrants	-	137,413	(137,413)	-
Totalrestrictedfunds	-	1,304,166	(828,252)	475,914

				Net		At31
	At1April			(losses)on		March
	2020	Income	Expenditure	invs.	Transfers	2021
	£	£	£	£	£	£
Permanentendowmentfund:
CoventGardenFund	33,286	281	—	16,361	—	49,928
				Net		At31
	AtIApril			(losses)on		March
	2019	Income	Expenditure	invs.	Transfers	2020
		£	£	£	£
Permanentendowmentfund.*
CoventGardenFund	35,518	358	—	(2,590)	—	33,286

thebalancesheetastheirmonetaryvalueisuncertain.Anindicative valueforinsurancepurposesisasfollows:	valuebasedonthe
	2021
AnearlyVictorianmahoganyextendingdiningtable,circa1840	11,910
Asetoftwenty-fourGeorgeIIIstylemahoganydiningchairs	10,089
HerbertHampton—BronzebustofSirHenryIrving	1,997
AlateVictoriansilverdeskstand	1,721
AGeorgeIIIstyletwo-handledtrophycupandcover	3,533
Twooriginalmarblesurroundfireplaces	16,810
Miscellaneousitemsnooneitemexceeding£1,000invalue	3,533
	49,953