Registered number: 00317560 Charity number: 229396
## **YORK CITIZENS' THEATRE TRUST LIMITED**
## **TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2021**
## **YORK CITIZENS' THEATRE TRUST LIMITED**
## CONTENTS
||Page|
|---|---|
|**Reference and administrative details of the charity, its Trustees and advisers**|1|
|**Trustees' report**|2 - 9|
|**Independent auditor's report on the financial statements**|10 - 13|
|**Consolidated statement of financial activities**|14|
|**Consolidated balance sheet**|15 - 16|
|**Charity balance sheet**|17 - 18|
|**Consolidated statement of cash flows**|19|
|**Notes to the financial statements**|20 - 46|
## **YORK CITIZENS' THEATRE TRUST LIMITED**
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS _FOR THE YEAR ENDED 31 MARCH 2021_
|**Trustees**|Ann M Green CBE,Chair|
|---|---|
||TiggyClifford|
||Avijit Datta|
||Richard Jagger|
||Nicholas Rust(appointed 17 June 2020,resigned 14 August 2021)|
||Romana Shah(appointed 26 May2021)|
||John Short|
||HollySloan(resigned 26 May2021)|
||Richard Smith|
||Paul Smith|
||Will Zhuang (appointed 17 June 2020)|
|**Company registered**
**number**
00317560
**Charity registered number**
229396
**Registered office**
St Leonards Place
York
YO1 7HD
**Company secretary**
Julie Crampsie
**Chief executive officer**
Tom Bird
**Independent auditor**
BHP LLP
Chartered Accountants
Rievaulx House
1 St Mary's Court
Blossom Street
York
YO24 1AH
**Bankers**
HSBC Bank PLC
13 Parliament Street
York
YO1 8XS
**Solicitors**
Rollits LLP
Forsyth House
Alpha Court
Monks Cross Drive
York
YO32 9WN||
Page 1
## **YORK CITIZENS' THEATRE TRUST LIMITED**
## TRUSTEES' REPORT
_FOR THE YEAR ENDED 31 MARCH 2021_
The Trustees are pleased to present their annual report together with the consolidated audited financial statements of the charity and its subsidiaries for the year ended 31 March 2021.
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Articles of Association and Accounting and Reporting by Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the UK and Republic of Ireland (FRS 102) published in October 2019.
Since the charity and the group qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.
## **Objectives and Activities**
## **a. Policies and objectives**
## **Objects of the Charity**
The Articles of Association of the Trust detail the primary objects of the Charity; these can be summarised as:
- a) To conserve, develop and enhance York Theatre Royal for the benefit of the public, as a working theatre, for the sole purpose of advancing the education of the public in the appreciation and understanding of the dramatic and musical arts in all their forms.
- b) To promote and advance education by the encouragement of the arts, to improve the general standard of dramatic productions in York and elsewhere, and to provide the Charity's theatre to be used for public lectures, cinematic performances or other entertainments and exhibitions considered to be of educational merit.
- c) To receive, educate and train students in the arts of drama, mime, dance, music, ballet, opera, puppetry, painting and sculpture, photography, cinema, literature and poetry.
- d) To acquire interest in copyright and rights of representation and other rights of or in plays, music, songs, words, operas, comedies and compositions of an educational merit or calculated to improve the general standard of dramatic productions in York and elsewhere for the benefit of the public.
- e) To carry on the business of the sale of food, drink and programmes, such activities to be solely ancillary to the furtherance of the Charity’s Objects.
York Theatre Royal is a producing theatre. The theatre premises are owned by York Conservation Trust and are leased to the Charity. The premises include the Main House (761 capacity) and the Studio (86 capacity), with extensive foyer catering areas served by a full production kitchen. The Charity also rents a unit in Osbaldwick for the purposes of costume hire and production storage.
## **b. Strategic Context**
The Charity receives revenue funding as an Arts Council England National Portfolio Organisation (NPO) and normally aligns its strategic planning with that funding cycle. In the context of the COVID-19 pandemic, the Arts Council has extended the current funding period for NPOs by one year – so the funding period now ends 31[st] March 2023. An application for the extension year will be submitted in September 2021.
York Theatre Royal took the necessary steps to offset the effects of COVID-19. The theatre pivoted quickly to reduce its
Page 2
## **YORK CITIZENS' THEATRE TRUST LIMITED**
## TRUSTEES' REPORT (CONTINUED)
_FOR THE YEAR ENDED 31 MARCH 2021_
cost base whilst benefitting from the CJRS and successfully obtaining financial support from Arts Council England. As a consequence, the theatre ended the year in a robust position financially. The projects that the theatre undertook during the year attracted considerable local, national and international profile, all of it positive. Some of these are detailed in the ‘Review of Activities’ section below.
The organisation’s core purpose statement reads as follows:
**York Theatre Royal is a brave creative hub at the heart of the city, and it is here for you.**
**These stages, buildings and our city will thrive with live theatre of exceptional quality made with you – the world’s most exciting artists – with more of the world’s most exciting artists.**
**We will be known and admired everywhere for our work with you.**
The organisational values we adopted in 2018 remain in place:
## **We are ambitious**
## **We are sturdy**
## **We celebrate the city’s diversity; it makes us bloom**
## **We are ambassadors for York**
## **We are welcoming**
## **We are creative in every context**
## **We pull together**
## **How the charity delivers its charitable cause:**
The Charity seeks to further its purposes for the public benefit through its core programme of creative activity including: its production, co-production and presentation of drama and other performing arts events together with its extensive learning, engagement and participation programmes with young people and adults, developed through well-defined regional, national and international relationships.
## **c. Review of activities**
Achievements in this extraordinary year:
- _The Travelling Pantomime_ toured to 14 different neighbourhoods in York and received national and international press coverage as well as entertaining audience members during the darkest moment of the pandemic in the UK;
- our Head of Production and Wardrobe team convened the manufacture of significant amounts of PPE for York Hospital at the beginning of the year;
- Our nationally-recognised Youth Theatre initially moved online. Later, in line with our strategic aim to decentralise our activity, Youth Theatre sessions were booked into New Earswick Folk Hall and other community venues, as well as the theatre, for the first time;
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## **YORK CITIZENS' THEATRE TRUST LIMITED**
## TRUSTEES' REPORT (CONTINUED)
_FOR THE YEAR ENDED 31 MARCH 2021_
- An extraordinary fundraising effort focusing on community giving and high net worth individuals saw the theatre surpass its fundraising target by 42%;
- New work by Tonderai Munyevu, Amy Ng, Ralph Fiennes, Emma Rice and Mojisola Elufowoju was developed or booked for our re-opening year;
- A new collaboration with the BBC saw us commission and record new audio versions of 6 of the York Mystery Plays for BBC Sounds;
- We installed new retractable seating in our Studio, making it a significantly more flexible space;
- When outdoor performance became legal in summer 2020 we built Pop-Up on the Patio, an outdoor theatre offering music, dance, comedy and childrens’ entertainers – all from York;
- _Futureproof_ , an online festival giving the young people of Yorkshire a chance to determine their cultural future, premiered online and was attended by York MP, Rachael Maskell.
## **d. Plans for future periods**
The theatre undertook a new business planning exercise in March 2021, in response to the changes brought by the pandemic and the Arts Council’s new strategy, _Let’s Create_ . We embedded the 4 ACE ‘Investment Principles’ into our business planning, and this plan will form the basis of our application to the NPO extension year, 2022-23.
In 2021-22 the theatre has budgeted a deficit of £176,805, as the effects of the pandemic continue. We are determined that this year and beyond will nevertheless be full of activity, as we step up our efforts to help the citizens of York enjoy the benefits of a creative life. Currently, we are planning a return to large-scale indoor pantomime at Christmas 2021 and to large-scale outdoor community performance in summer 2022.
The theatre plans to apply to the new Arts Council England National Portfolio, beginning 1[st] April 2023.
## **e. Investment policy and performance**
The Trustees have determined a Low Risk / Low Return financial investment policy. Low Risk is defined as only investments on which capital is guaranteed. The terms of any investment will be easily accessible with no long-term commitments. Investment accounts and investment vehicles must be agreed by the Chairman and the Chair of the Finance and Capital Committee.
Any investment opportunities that arise that are outside the definition above, and could be considered Medium Risk (for example where the capital is not guaranteed but a reasonable return is expected) will be reviewed on a case by case basis. A decision on Medium Risk investments will be made by the full Board.
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## **YORK CITIZENS' THEATRE TRUST LIMITED**
TRUSTEES' REPORT (CONTINUED) _FOR THE YEAR ENDED 31 MARCH 2021_
## **Financial review**
## **a. Going concern**
The financial statements have been prepared on a going concern basis. The trustees have taken into account the guidance issued by the Financial Reporting Council on Going Concern assessments in determining that this is the appropriate basis of preparation of the financial statements. They have also considered the ongoing impact of the Coronavirus Pandemic and risks to funding in reaching a conclusion on Going Concern.
Following a review of the Charity’s financial forecast to 31 March 2022 and its draft budget for the financial year 2022/23, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. As a consequence, the Trustees continue to adopt the going concern basis in preparing the financial statements.
## **b. Reserves policy**
The trustees have agreed that it is necessary to maintain sufficient reserves in its General Funds to enable the organisation to respond to short term fluctuations and to provide sufficient liquid reserves to meet fixed costs plus any foreseeable capital expenditure. The theatre adopted an ambitious reserves target of £651,280 in February 2021 to ensure its resilience to the ongoing effects of the pandemic.
## **c. Financial position**
Total income for the year was £2,685,684 (2020; £4.229,387). Income from charitable activities was £76,777 (2020: £2,398,043) whilst income from grants, donations and legacies was £1,697,727 (2020: £871,389). Other income, including income from subsidiary trading activities was £911,180 (2020: £959,955).
Total expenditure for the year was £1,865,227 (2020: £4,833,404). Expenditure on charitable activities was £1,253,555 (2020: £3,472,655). Expenditure on raising funds, including subsidiary trading costs was £611,672 (2020: £1,360,749).
The net income was £820,457 (2020: net expenditure of £604,017), and as a result the net funds carried forward at 31 March 2021 were £2,220,210 (2020: £1,399,753).
The charity’s free reserve increased by £515,935 to £542,875 (2020: £26,940). This consisted of YTR Enterprises profit of £72,474 and a surplus on charitable activities of £470,401, after net transfer to the Designated Fixed Asset Fund equivalent to investment in capital assets less depreciation.
## **Fundraising policy**
We raise a small percentage of our funds from the public and our aim is to ensure we do this in both a respectful and compelling way that is consistent with our values.
The charity is a member of the Institute of Fundraising and supports its purpose and activities. All fundraising conducted on behalf of the charity, whether by committees, volunteers or staff, must comply with the Fundraising Regulator and The Code of Fundraising Practice together with all relevant legislation. The Trustees are not aware of any failure in complying with the new Code and legislation.
The charity did not employ a professional fundraiser nor any commercial participator in fundraising in the year.
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## **YORK CITIZENS' THEATRE TRUST LIMITED**
TRUSTEES' REPORT (CONTINUED) _FOR THE YEAR ENDED 31 MARCH 2021_
The charity has a Development Subcommittee that includes in its membership both trustees and co-opted members. This committee monitors all fundraising by and for the charity. The Trustees monitor the Development Subcommittee via reports and minutes on a quarterly basis.
The charity has received no complaints about its fundraising activity in the year.
The charity insists that all members of the public will not be subject to fundraising activity that is an unreasonable intrusion on that person’s privacy, is unreasonably persistent, or places undue pressure on a person to give money or other property.
Structure, governance and management
## **a. Constitution**
The charity and the group is registered as a members limited liability company and was set up by a Memorandum of Association on 15 August 1936, subsequently brought uptodate by Articles of Association adopted on 21 April 2016.
The charity and the group is constituted under Articles of Association dated 21 April 2016 and is a registered charity number 229396.
The principal objects of the charity and the group are:
To conserve, develop and enhance the premises known as York Theatre Royal for the benefit of the public, as a working theatre and a place with historical associations and to acquire for any consideration or interest, construct or maintain theatres in York or elsewhere and to alter, rebuild, reconstruct, refurnish, work, maintain and carry on any theatre for the time being owned or taken on lease by or otherwise in the occupation of the Charity, for the sole purpose of advancing the education of the public in the appreciation and understanding of the dramatic and musical arts in all their forms.
To carry on any theatre for the time being owned, leased or occupied by the Charity to promote, maintain, improve and advance education by the encouragement of the arts, including the arts of drama, mime, dance, music, ballet, opera, puppetry, painting and sculpture, photography, cinema, literature and poetry and to improve the general standard of dramatic productions in York and elsewhere, and also if and in so far as may be practicable to provide the Charity's theatre or permit the same to be used for public lectures, cinematic performances or other entertainments and exhibitions considered to be of educational merit.
To receive, educate and train students in the arts of drama, mime, dance, music, ballet, opera, puppetry, painting and sculpture, photography, cinema, literature and poetry and to promote recognition of and encouragement of exceptional merit in students by the institutional presentation of scholarships, exhibitions, grants, medals or other prizes or benefactions.
To purchase or otherwise acquire and obtain exclusive and other interest in copyright and rights of representation and other rights of or in plays, music, songs, words, operas, comedies and compositions of an educational merit or calculated to improve the general standard of dramatic productions in York and elsewhere for the benefit of the public.
In furtherance of the above objects to carry on in connection with any theatre owned or for the time being in the occupation of the Charity in York or elsewhere the business of the sale of refreshments, food and drink and publications, such activities to be solely ancillary to the furtherance of the Charity’s Objects.
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## **YORK CITIZENS' THEATRE TRUST LIMITED**
## TRUSTEES' REPORT (CONTINUED)
_FOR THE YEAR ENDED 31 MARCH 2021_
The Board of Trustees meets ordinarily four times each year. The Charity has resolved to dispense with an Annual General Meeting. In addition, Trustees have established the following committees to report to the Board of Trustees on aspects of the Charity’s business:
- Finance and Capital
- Audit
- Audience Engagement
- Development
- Personnel and Governance
The roles of Equalities Champion and Environmental Champion are each assigned to an individual Trustee. A Trustee observes the Charity’s Health and Safety Committee meetings.
The Charity has two trading subsidiaries which form part of the group and in which it is the sole shareholder: York Theatre Royal Enterprises Ltd and York Theatre Productions Ltd.
All profits generated by the Trust’s subsidiaries are ‘gifted’ to the Charity.
The Trust and its subsidiaries operate as a group for VAT purposes. The relationship between the Charity and its subsidiaries is clearly set out in a relationship agreement under which the Charity provides a range of services to its subsidiaries. These include lease and buildings maintenance, strategic management, employment and provision of staff, administration (including HR and Finance), insurance and the provision of assets for use by the subsidiaries. The subsidiaries receive a Management Charge to cover the cost of these services.
## **b. Method of appointment or election of Trustees**
The management of the charity and the group is the responsibility of the Trustees who are elected and coopted under the terms of the Articles of Association.
## **c. Policies adopted for the induction and training of Trustees**
New Trustees are inducted into the organisation through a series of meetings. The Board has terms of reference for all Board meetings and Board Committees. There is an annual review of the Board skills base and open recruitment for all Trustees. There is an intent that the Board is representative of the UK community. Each year Trustees hold an Away Day with the Executive to review the strategic direction of the Trust.
## **d. Pay policy for senior staff**
The pay of senior staff is reviewed annually and normally increased in accordance with average earnings. The Trustees benchmark against other provincial producing theatres of a similar size run on a voluntary basis. The remuneration benchmark is the midpoint of the range paid for similar roles.
## **e. Organisational structure and decision making**
The Trustees determine the general policy of the Charity. Under the overall direction of the Trustees the day-to-day management is delegated to the Executive Director.
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## **YORK CITIZENS' THEATRE TRUST LIMITED**
## TRUSTEES' REPORT (CONTINUED)
_FOR THE YEAR ENDED 31 MARCH 2021_
## **f. Risk management**
The Trustees have assessed the major risks to which the Charity and the group is exposed, in particular those related to the operations and finances of the Charity and the group, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks. The Charity maintains a Risk Register, which is reviewed regularly by the trustees. The trustees recognise the finances of the Charity will continue to benefit from the valuable support of Arts Council England.
## **Trustees' responsibilities statement**
The Trustees (who are also directors of York Citizens' Theatre Trust Limited for the purposes of company law) are responsible for preparing the Trustees' report 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. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgments and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable group will continue in operation.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company and the group's transactions and disclose with reasonable accuracy at any time the financial position of the charitable group and 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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## **YORK CITIZENS' THEATRE TRUST LIMITED**
## TRUSTEES' REPORT (CONTINUED)
_FOR THE YEAR ENDED 31 MARCH 2021_
## **Disclosure of information to auditor**
Each of the Trustees at the time when this Trustees' report is approved has confirmed that:
- so far as that Trustee is aware, there is no relevant audit information of which the charitable group's auditor is unaware, and
- that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charitable group's auditor is aware of that information
## **Auditor**
The auditor, BHP LLP, has indicated its willingness to continue in office. The designated trustees will propose a motion reappointing the auditor at a meeting of the Trustees.
Approved by order of the members of the board of Trustees and signed on their behalf by:
## RWSmith
Ann Green Ann Green (Nov 29, 2021 17:59 GMT) ................................................ RWSmith (Nov 26, 2021 18:06 GMT) ................................................ **Ann M Green CBE, Chair Richard Smith** (Chair of Trustees) (Trustee) Date: 22 September 2021
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## **YORK CITIZENS' THEATRE TRUST LIMITED**
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEES OF YORK CITIZENS' THEATRE TRUST LIMITED
## **Opinion**
We have audited the financial statements of York Citizens' Theatre Trust Limited (the 'parent charitable company') and its subsidiaries (the 'group') for the year ended 31 March 2021 which comprise the Consolidated statement of financial activities, the Consolidated balance sheet, the Charity balance sheet, the Consolidated statement of cash flows and the related notes, 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, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the group's and of the parent charitable company's affairs as at 31 March 2021 and of the group's 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 and the Charities Act 2011.
## **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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 group's or the parent 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.
Page 10
## **YORK CITIZENS' THEATRE TRUST LIMITED**
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEES OF YORK CITIZENS' THEATRE TRUST LIMITED (CONTINUED)
## **Other information**
The other information comprises the information included in the trustees' report other than the financial statements and our Auditor's report thereon. The trustees are responsible for the other information contained within the trustees' report. 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. 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 course of 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 trustees' report (incorporating the directors' report) for the financial year for which the financial statements are prepared is consistent with the financial statements.
- the directors' report has been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of our knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:
- the parent charitable company has not kept adequate and sufficient accounting records, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent charitable company 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; or
- the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the directors' report and from the requirement to prepare a strategic report.
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## **YORK CITIZENS' THEATRE TRUST LIMITED**
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEES OF YORK CITIZENS' THEATRE TRUST LIMITED (CONTINUED)
## **Responsibilities of trustees**
As explained more fully in the trustees' responsibilities statement, the trustees (who are also the directors of the parent 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 group's and parent 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 group or parent charitable company or to cease operations, or have no realistic alternative but to do so.
## **Auditor's 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 an Auditor's report 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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with laws and regulations;
- we identified the laws and regulations applicable to the group and parent charitable company through discussions with management and trustees, and from our knowledge and experience of this organisation;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the group and parent charitable company, including the Charities Act 2011, the Companies Act 2006, data protection, health and safety and employment law;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and trustees;
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit of the group and parent charitable company.
We assessed the susceptibility of the charity's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by;
- making enquiries of management and trustees as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
- To address the risks of fraud through management bias and override controls, we:
- performed analytical procedures to identify any unusual or unexpected variances;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates set out in note 2 were indicative of potential bias; and
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## **YORK CITIZENS' THEATRE TRUST LIMITED**
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEES OF YORK CITIZENS' THEATRE TRUST LIMITED (CONTINUED)
- investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- reading the minutes of meetings of those charged with governance;
- enquiring of management as to actual and potential litigation and claims.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occuring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: https://frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards-and-guidance/Standards-and guidance-for-auditors/Auditors-responsibilities-for-audit/Description-of-auditors-responsibilities-for-audit.aspx This description forms part of our Auditor's report.
## **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, and to the charitable company's trustees, as a body, Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's membersand its trustees those matters we are required to state to them in an Auditor's 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 and the charitable company's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Jane Marshall (Nov 30, 2021 12:36 GMT)
## **Jane Marshall (Senior statutory auditor)**
for and on behalf of
## **BHP LLP**
Chartered Accountants Statutory Auditor Rievaulx House 1 St Mary's Court Blossom Street York YO24 1AH
Date: 30-Nov-2021
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## **YORK CITIZENS' THEATRE TRUST LIMITED**
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
_FOR THE YEAR ENDED 31 MARCH 2021_
|**Note**
**Income from:**
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investments
6
Other income
7
**Total income**
**Expenditure on:**
Raising funds:
8
Fundraising trading costs
Subsidiary trading costs
Charitable activities
9
**Total expenditure**
**Net income/(expenditure)**
Transfers between funds
20
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2021**
**£**
**924,161**
**59,777**
**5,239**
**1,906**
**904,035**
**1,895,118**
**253,011**
**347,552**
**963,592**
**1,564,155**
**330,963**
**196,152**
**527,115**
**1,118,466**
**527,115**
**1,645,581**|**Restricted**
**funds**
**2021**
**£**
**773,566**
**17,000**
**-**
**-**
**-**
**790,566**
**11,109**
**-**
**289,963**
**301,072**
**489,494**
**(196,152)**
**293,342**
**281,287**
**293,342**
**574,629**|**Total**
**funds**
**2021**
**£**
**1,697,727**
**76,777**
**5,239**
**1,906**
**904,035**
**2,685,684**
**264,120**
**347,552**
**1,253,555**
**1,865,227**
**820,457**
**-**
**820,457**
**1,399,753**
**820,457**
**2,220,210**|Total
funds
2020
£
871,389
2,398,043
858,758
5,042
96,155
4,229,387
578,026
782,723
3,472,655
4,833,404
(604,017)
-
(604,017)
2,003,770
(604,017)
1,399,753|
|---|---|---|---|---|
The Consolidated statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 20 to 46 form part of these financial statements.
Page 14
## **YORK CITIZENS' THEATRE TRUST LIMITED**
REGISTERED NUMBER: 00317560
## CONSOLIDATED BALANCE SHEET
_AS AT 31 MARCH 2021_
|**Note**
**Fixed assets**
Tangible assets
15
**Current assets**
Stocks
17
Debtors
18
Cash at bank and in hand
24
Creditors: amounts falling due within one year
19
**Net current assets**
**Total net assets**
**Charity funds**
Restricted funds
20
Unrestricted funds
Designated funds
20
General funds
20
Total unrestricted funds
20
**Total funds**|**3,333**
**419,848**
**1,055,669**
**1,478,850**
**(361,346)**
**1,102,706**
**542,875**|**2021**
**£**
**1,102,706**
**1,102,706**
**1,117,504**
**2,220,210**
**574,629**
**1,645,581**
**2,220,210**|11,003
631,509
515,026
1,157,538
(849,309)
1,091,524
26,942|2020
£
1,091,524|
|---|---|---|---|---|
|||||1,091,524
308,229|
||||||
|||||1,399,753|
|||||281,287
1,118,466|
||||||
|||||1,399,753|
Page 15
## **YORK CITIZENS' THEATRE TRUST LIMITED**
CONSOLIDATED BALANCE SHEET (CONTINUED) _AS AT 31 MARCH 2021_
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
As permitted by s408 Companies Act 2006, the charitable company has not presented its own profit and loss accounts and related notes. The charitable company's surplus for the year was £764,116 (2020: £478,329 deficit).
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
> Ann Green RWSmith Ann Green (Nov 29, 2021 17:59 GMT) RWSmith (Nov 26, 2021 18:06 GMT) **Ann M Green CBE Richard Smith**
(Chair of Trustees)
Date: 22 September 2021
The notes on pages 20 to 46 form part of these financial statements.
Page 16
## **YORK CITIZENS' THEATRE TRUST LIMITED**
REGISTERED NUMBER: 00317560
## CHARITY STATEMENT OF FINANCIAL POSITION
_AS AT 31 MARCH 2021_
|**Note**
**Fixed assets**
Tangible assets
15
Investments
16
**Current assets**
Debtors
18
Cash at bank and in hand
Creditors: amounts falling due within one year
19
**Net current assets**
**Total net assets**
**Charity funds**
Restricted funds
20
Unrestricted funds
Share capital
20
General funds
20
Total unrestricted funds
20
**Total funds**|**418,594**
**1,055,485**
**1,474,079**
**(429,052)**
**41**
**1,573,066**|**2021**
**£**
**1,102,706**
**3**
**1,102,709**
**1,045,027**
**2,147,736**
**574,629**
**1,573,107**
**2,147,736**|622,809
478,525
1,101,334
(809,242)
41
1,102,291|2020
£
1,091,524
3|
|---|---|---|---|---|
|||||1,091,527
292,092|
||||||
|||||1,383,619|
|||||281,287
1,102,332|
||||||
|||||1,383,619|
Page 17
## **YORK CITIZENS' THEATRE TRUST LIMITED**
CHARITY STATEMENT OF FINANCIAL POSITION (CONTINUED) _AS AT 31 MARCH 2021_
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
RWSmith Ann Green Ann Green (Nov 29, 2021 17:59 GMT) RWSmith (Nov 26, 2021 18:06 GMT) **Ann M Green CBE Richard Smith**
(Chair of Trustees)
Date: 22 September 2021
The notes on pages 20 to 46 form part of these financial statements.
Page 18
## **YORK CITIZENS' THEATRE TRUST LIMITED**
## CONSOLIDATED STATEMENT OF CASH FLOWS
_FOR THE YEAR ENDED 31 MARCH 2021_
|**Note**
**Cash flows from operating activities**
Net cash provided by/(used in) operating activities
23
**Cash flows from investing activities**
Bank interest
6
Purchase of tangible fixed assets
15
**Net cash used in investing activities**
**Change in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**
24|**2021**
**£**
**741,052**
**1,906**
**(197,107)**
**(195,201)**
**545,851**
**509,818**
**1,055,669**|2020
£
(676,829)
5,042
(128,833)
**(123,791)**
**(800,620)**
1,310,438
509,818|
|---|---|---|
The notes on pages 20 to 46 form part of these financial statements
Page 19
## **YORK CITIZENS' THEATRE TRUST LIMITED**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 MARCH 2021_
## **1. Accounting policies**
## _**1.1 Basis of preparation of financial statements**_
York Citizens' Theatre Trust Limited constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
The Consolidated statement of financial activities (SOFA) and Consolidated balance sheet consolidate the financial statements of the charity and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.
The charity has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of financial activities in these financial statements.
## _**1.2 Going concern**_
The financial statements have been prepared on a going concern basis. The trustees have taken into account the guidance issued by the Financial Reporting Council on Going Concern assessments in determining that this is the appropriate basis of preparation of the financial statements. They have also considered the ongoing impact of the Coronavirus Pandemic and risks to funding in reaching a conclusion on Going Concern.
Following a review of the Charity’s financial forecast to 31 March 2022 and its draft budget for the financial year 2022/23, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. As a consequence, the Trustees continue to adopt the going concern basis in preparing the financial statements.
## _**1.3 Company status**_
The charity is a company limited by shares, incorporated in England and Wales. The company's registered office is as stated in the Trustees' Report.
The liability of each shareholder on winding up is limited to £1 for each share held.
Page 20
## **YORK CITIZENS' THEATRE TRUST LIMITED**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 MARCH 2021_
## **1. Accounting policies (continued)**
## _**1.4 Fund accounting**_
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Page 21
## **YORK CITIZENS' THEATRE TRUST LIMITED**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 MARCH 2021_
## **1. Accounting policies (continued)**
## _**1.5 Income**_
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
## Charitable trading activities
Income from theatre admission fees net of Box Office commission is included in charitable activity income in the period in which the relevant show takes place.
## Commercial trading activities
Income from commercial activites is included in the period in which the group is entitled to receipt within raising funds.
## Donations and grants
Income from donations and grants, including capital grants, are included in income when these are receivable, except as follows:
- When donors specify that donations and grants are given to the charity must be used in future accounting periods, the income is deferred until those periods.
- When donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred and not included in income until the pre-conditions for use have been met.
- Grants received in relation to the government Coronavirus Job Retention Scheme (Furlough) have been recognised within other incoming resources. The grant is accounted for on the accruals basis once the related payroll return has been submitted.
When donors specify that donations and grants, including capital grants, are for particular restricted purposes, which do not amount to pre-conditions regarding entitlement, this income is included within restricted income when receivable.
## Interest receivable
Interest is included when receivable by the charity.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
Page 22
## **YORK CITIZENS' THEATRE TRUST LIMITED**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 MARCH 2021_
## **1. Accounting policies (continued)**
## _**1.6 Expenditure**_
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity.
Certain expenditure is directly attributable to specific activities and has been included in the relevant cost categories.
Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include central functions that have been allocated to activity cost categories on a basis consistent with the use of resources.
Governance costs are those incurred in connection with compliance with constitutional and statutory requirements.
Expenditure on stage properties, scenery and effects is not capitalised (unless the properties, scenery and effects can be used in future productions), as it is considered that such costs more truly reflect direct production costs and are, therefore, written off in the financial year in which the relevant production opens.
Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
## _**1.7 Basis of consolidation**_
The financial statements consolidate the accounts of York Citizens' Theatre Trust Limited and all of its subsidiary undertakings ('subsidiaries').
The charity has taken advantage of the exemption contained within section 408 of the Companies Act 2006 not to present its own Income and expenditure account.
The income and expenditure account for the year dealt with in the accounts of the charity was £764,116 surplus (2020: £478,329 deficit).
Page 23
## **YORK CITIZENS' THEATRE TRUST LIMITED**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 MARCH 2021_
## **1. Accounting policies (continued)**
## _**1.8 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.
Grants received in relation to the government Coronavirus Job Retention Scheme (Furlough) have been recognised within other operating income. The grant is accounted for on the accruals basis once the related payroll return has been submitted
## _**1.9 Tangible fixed assets and depreciation**_
Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .
Depreciation is provided on the following bases:
- Signal Box Theatre 11% straight line - Leasehold improvements Over expected life of the asset, varying from 6% - 43% straight line - Plant and equipment Over expected life of the asset, varying from 10% - 50% straight line Motor vehicles - 20% straight line
## _**1.10 Investments**_
Investments in subsidiaries are valued at cost less provision for impairment.
## _**1.11 Stocks**_
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slowmoving stocks.
Page 24
## **YORK CITIZENS' THEATRE TRUST LIMITED**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 MARCH 2021_
## **1. Accounting policies (continued)**
## _**1.12 Debtors**_
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## _**1.13 Cash at bank and in hand**_
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity from the date of acquisition or opening of the deposit or similar account.
## _**1.14 Creditors and provisions**_
Creditors are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Creditors are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Consolidated statement of financial activities as a finance cost.
## _**1.15 Financial instruments**_
The Group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## _**1.16 Pensions**_
The Group operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Group to the fund in respect of the year.
## _**1.17 Employee benefits**_
The costs of short-term employee benefits are recognised as a liability and an expense.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Page 25
## **YORK CITIZENS' THEATRE TRUST LIMITED**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 MARCH 2021_
## _**2. Critical accounting estimates and areas of judgment**_
Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Critical accounting estimates and assumptions:
The charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.
## (i) Support costs
Staffing and administration support costs are allocated across the activities of the theatre. Support costs are allocated on a basis consistent with the use of resources.
Page 26
## **YORK CITIZENS' THEATRE TRUST LIMITED**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 MARCH 2021_
## **3. Income from donations and legacies**
|**_Donations_**
Arts Council England, Yorkshire
Individual Giving and the 1774 Club
The Berwick Kaler Foundation
Patricia & Donal Shepherd Charitable Trust
Community giving donations
**_Grants_**
Development Support Fund (COVID 19)
Culture Recovery Fund Grant
Other donations
Other grants
CYC Capital funding
Total 2020|**Unrestricted**
**funds**
**2021**
**£**
**794,552**
**63,524**
**-**
**-**
**64,445**
**-**
**-**
**1,640**
**-**
**-**
**924,161**
783,787|**Restricted**
**funds**
**2021**
**£**
**-**
**-**
**(1,683)**
**-**
**-**
**25,000**
**236,522**
**4,552**
**-**
**509,175**
**773,566**
87,602|**Total**
**funds**
**2021**
**£**
**794,552**
**63,524**
**(1,683)**
**-**
**64,445**
**25,000**
**236,522**
**6,192**
**-**
**509,175**
**1,697,727**
871,389|Total
funds
2020
£
587,254
113,496
32,804
30,000
36,264
-
-
57,625
13,946
-|
|---|---|---|---|---|
|||||871,389|
||||||
## **4. Income from charitable activities**
|Admission fees (box office receipts)
Co-production income
Education and outreach
Total 2020|**Unrestricted**
**funds**
**2021**
**£**
**8,719**
**-**
**51,058**
**59,777**
2,398,043|**Restricted**
**funds**
**2021**
**£**
**17,000**
**-**
**-**
**17,000**
-|**Total**
**funds**
**2021**
**£**
**25,719**
**-**
**51,058**
**76,777**
2,398,043|Total
funds
2020
£
2,268,276
11,431
118,336|
|---|---|---|---|---|
|||||2,398,043|
||||||
Page 27
## **YORK CITIZENS' THEATRE TRUST LIMITED**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 MARCH 2021_
## **5. Income from other trading activities**
## **Income from fundraising events**
|Props, electrical hire and merchandising
Lettings, room hire & corporate entertainment
Costume hire & making
Total 2020
**Income from non charitable trading activities**
Other income
Bar sales
Cafe sales
Events, hire and performance income
Ice cream and sweet sales
Merchandise and programme sales
Box office services
Total 2020|**Unrestricted**
**funds**
**2021**
**£**
**2,000**
**-**
**4**
**2,004**
27,329
**Unrestricted**
**funds**
**2021**
**£**
**10,770**
**576**
**(281)**
**(841)**
**505**
**-**
**(7,494)**
**3,235**
831,429|**Total**
**funds**
**2021**
**£**
**2,000**
**-**
**4**
**2,004**
27,329
**Total**
**funds**
**2021**
**£**
**10,770**
**576**
**(281)**
**(841)**
**505**
**-**
**(7,494)**
**3,235**
831,429|Total
funds
2020
£
765
14,371
12,193|
|---|---|---|---|
||||27,329|
||||Total
funds
2020
£
-
209,580
233,312
92,877
85,354
43,258
167,048|
||||831,429|
|||||
Page 28
## **YORK CITIZENS' THEATRE TRUST LIMITED**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 MARCH 2021_
## **6. Investment income**
|Bank interest
Total 2020|**Unrestricted**
**funds**
**2021**
**£**
**1,906**
5,042|**Total**
**funds**
**2021**
**£**
**1,906**
5,042|Total
funds
2020
£
5,042|
|---|---|---|---|
|||||
## **7. Other incoming resources**
|Other operating income
Sundry income
Tenancy income
Coronavirus job retention scheme income
Coronavirus business support grant
Total 2020|**Unrestricted**
**funds**
**2021**
**£**
**-**
**114,410**
**7,000**
**747,268**
**35,357**
**904,035**
96,155|**Total**
**funds**
**2021**
**£**
**-**
**114,410**
**7,000**
**747,268**
**35,357**
**904,035**
96,155|Total
funds
2020
£
1,725
82,987
11,443
-
-|
|---|---|---|---|
||||96,155|
|||||
Page 29
## **YORK CITIZENS' THEATRE TRUST LIMITED**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 MARCH 2021_
## **8. Expenditure on raising funds**
## _**Fundraising trading expenses**_
|Marketing and fundraising
Trading activities
Costume hire & making
Fundraising trading expenses - wages costs
Fundraising trading expenses - NI
Fundraising trading expenses - pension costs
Total 2020|**Unrestricted**
**funds**
**2021**
**£**
**70,829**
**82,138**
**3,974**
**85,436**
**8,112**
**2,522**
**253,011**
578,026|**Restricted**
**funds**
**2021**
**£**
**-**
**-**
**-**
**11,109**
**-**
**-**
**11,109**
-|**Total**
**funds**
**2021**
**£**
**70,829**
**82,138**
**3,974**
**96,545**
**8,112**
**2,522**
**264,120**
578,026|Total
funds
2020
£
347,882
52,432
5,154
155,825
13,326
3,407|
|---|---|---|---|---|
|||||578,026|
||||||
Page 30
## **YORK CITIZENS' THEATRE TRUST LIMITED**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 MARCH 2021_
## **8. Expenditure on raising funds (continued)**
## _**Other trading expenses**_
|Bar purchases
Cafe purchases
Events, hire and performance cost of sales
Ice cream and sweets purchases
Merchandise and programme purchases
Box office service costs recharged
Box office service costs of sales
Administration expenses
Administration staff costs
Total 2020
**Split between direct and support costs**
Cost of generating funds
Fundraising trading costs
Subsidiary trading costs
Total 2020|**Direct cost of**
**activities**
**2021**
**£**
**124,139**
**11,700**
**347,552**
**483,391**
1,231,883|**Unrestricted**
**funds**
**2021**
**£**
**3,519**
**2,937**
**10,340**
**2,034**
**613**
**24,159**
**60,273**
**4,102**
**239,575**
**347,552**
782,723
**Support costs**
**2021**
**£**
**42,169**
**86,112**
**-**
**128,281**
128,866|**Total**
**funds**
**2021**
**£**
**3,519**
**2,937**
**10,340**
**2,034**
**613**
**24,159**
**60,273**
**4,102**
**239,575**
**347,552**
782,723
**Total**
**funds**
**2021**
**£**
**166,308**
**97,812**
**347,552**
**611,672**
1,360,749|Total
funds
2020
£
49,210
91,489
89,347
18,951
19,076
101,612
102,335
55,977
254,726|
|---|---|---|---|---|
|||||782,723|
|||||Total
funds
2020
£
505,662
72,364
782,723|
|||||1,360,749|
||||||
Page 31
## **YORK CITIZENS' THEATRE TRUST LIMITED**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 MARCH 2021_
## **9. Analysis of expenditure on charitable activities**
## _**Summary by fund type**_
|Admission fees (box office receipts)
Theatre tax relief
Education and outreach
Governance
Total 2020|**Unrestricted**
**funds**
**2021**
**£**
**850,117**
**(35,143)**
**132,126**
**16,492**
**963,592**
3,359,221|**Restricted**
**funds**
**2021**
**£**
**254,038**
**-**
**35,925**
**-**
**289,963**
113,434|**Total**
**funds**
**2021**
**£**
**1,104,155**
**(35,143)**
**168,051**
**16,492**
**1,253,555**
3,472,655|Total
funds
2020
£
3,475,734
(207,669)
191,275
13,315
3,472,655|
|---|---|---|---|---|
## **10. Analysis of expenditure by activities**
|Operation of theatre
Theatre tax relief
Education and outreach
Governance
Total 2020|**Activities**
**undertaken**
**directly**
**2021**
**£**
**695,990**
**(35,143)**
**126,165**
**16,492**
**803,504**
2,465,109|**Support costs**
**2021**
**£**
**408,165**
**-**
**41,886**
**-**
**450,051**
1,007,546|**Total**
**funds**
**2021**
**£**
**1,104,155**
**(35,143)**
**168,051**
**16,492**
**1,253,555**
3,472,655|Total
funds
2020
£
3,475,734
(207,669)
191,275
13,315
3,472,655|
|---|---|---|---|---|
Page 32
## **YORK CITIZENS' THEATRE TRUST LIMITED**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 MARCH 2021_
## **11. Allocation of support costs**
The trust allocates its support costs as shown in the table below. The support costs are allocated on a basis consistent with the use of resources.
|Administration salaries
Other staff costs
Premises costs
Computer, stationery and postage costs
Travelling and subsistence costs
Legal and professional costs
Other sundry expenses
Irrecoverable VAT
Depreciation, loss on disposal and impairment of
fixed assets
**_Total 2021_**
Total 2020|**Operation of**
**Theatre**
**2021**
**£**
**121,172**
**64,874**
**93,023**
**24,594**
**-**
**784**
**18,577**
**-**
**127,026**
**450,050**
1,007,545|**Allocated to**
**cost of raising**
**funds**
**2021**
**£**
**55,274**
**81**
**-**
**627**
**-**
**358**
**13,997**
**-**
**57,944**
**128,281**
128,866|**Total**
**funds**
**2021**
**£**
**176,446**
**64,955**
**93,023**
**25,221**
**-**
**1,142**
**32,574**
**-**
**184,970**
**578,331**
1,136,411|Total
funds
2020
£
212,647
208,426
329,070
35,953
8,331
(475)
45,917
46,769
249,773
1,136,411|
|---|---|---|---|---|
## **12. Net income/(expenditure)**
This is stated after charging:
||**2021**|2020|
|---|---|---|
||**£**|£|
|Depreciation of tangible fixed assets:|||
|- owned bythe charitablegroup|183,776|249,773|
|Auditor's remuneration - audit|12,000|11,150|
|Auditor's remuneration - other services|3,700|1,640|
|Loss on disposal of tangible fixed assets|1,194|-|
Page 33
## **YORK CITIZENS' THEATRE TRUST LIMITED**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 MARCH 2021_
## **13. Staff costs**
|Wages and salaries
Social security costs
Contribution to defined contribution pension
schemes|**Group**
**2021**
**£**
**1,183,720**
**71,539**
**23,633**
**1,278,892**|Group
2020
£
1,355,370
111,916
27,663
1,494,949|**Charity**
**2021**
**£**
**1,183,720**
**71,539**
**23,633**
**1,278,892**|Charity
2020
£
1,355,370
111,916
27,663|
|---|---|---|---|---|
|||||1,494,949|
The average number of persons employed by the charity during the year was as follows:
||**Group**|Group|
|---|---|---|
||**2021**|2020|
||**No.**|No.|
|Average monthly headcount|**128**|126|
The average headcount expressed as full-time equivalents was:
|Permanent staff
Casual staff|**Group**
**2021**
**No.**
**26**
**17**
**43**|Group
2020
No.
43
18|
|---|---|---|
||||
|||61|
No employee received remuneration amounting to more than £60,000 in either year.
The average number of key management personnel in the year was 1 (2020: 2) and total key managment personnel remuneration was £61,068 (2020: £130,015)
## **14. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits (2020 - £NIL).
During the year ended 31 March 2021, no expenses were reimbursed or paid directly to Trustees (2020: £82 to 2 Trustees).
Page 34
## **YORK CITIZENS' THEATRE TRUST LIMITED**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 MARCH 2021_
## **15. Tangible fixed assets**
## _**Group and Charity**_
|**_Cost or valuation_**
At 1 April 2020
Additions
Disposals
At 31 March 2021
**_Depreciation_**
At 1 April 2020
Charge for the year
On disposals
At 31 March 2021
**_Net book value_**
At 31 March 2021
At 31 March 2020|**Signal Box**
**Theatre**
**Leasehold**
**Improvements**
**£**
**£**
**9,733**
**1,521,331**
**-**
**112,698**
**(8,779)**
**(196,452)**
**954**
**1,437,577**
**6,893**
**723,313**
**1,060**
**97,655**
**(7,158)**
**(196,452)**
**795**
**624,516**
**159**
**813,061**
2,840
798,018|**Plant and**
**machinery**
**£**
**1,071,312**
**84,409**
**(78,157)**
**1,077,564**
**780,646**
**85,061**
**(77,629)**
**788,078**
**289,486**
290,666|**Motor**
**vehicles**
**£**
**7,000**
**-**
**-**
**7,000**
**7,000**
**-**
**-**
**7,000**
**-**
-|**Total**
**£**
**2,609,376**
**197,107**
**(283,388)**
**2,523,095**
**1,517,852**
**183,776**
**(281,239)**
**1,420,389**
**1,102,706**
1,091,524|
|---|---|---|---|---|
Page 35
## **YORK CITIZENS' THEATRE TRUST LIMITED**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 MARCH 2021_
## **16. Fixed asset investments**
|**_charity_**
**_Cost or valuation_**
At 1 April 2020
At 31 March 2021
**_Net book value_**
At 31 March 2021
At 31 March 2020|**Investments**
**in subsidiary**
**companies**
**£**
**3**|
|---|---|
||**3**|
||**3**|
||3|
## **Principal subsidiaries**
The following were subsidiary undertakings of the charity:
|**Names**||**Company**|**Holding**|**Included in**|
|---|---|---|---|---|
|||**number**||**consolidation**|
|York Theatre Royal Enterprises Limited||02909939|**100%**|Yes|
|York Theatre Productions Limited||09308382|**100%**|Yes|
|The financial results of the subsidiaries for the year were:|||||
|**Names**|**Income**|**Expenditure**|**Profit/(Loss)/**|**Net assets**|
||**£**|**£**|**Surplus/**|**£**|
||||**(Deficit) for**||
||||**the year**||
||||**£**||
|York Theatre Royal Enterprises Limited|**610,717**|**(538,243)**|**72,474**|**72,476**|
|York Theatre Productions Limited|**131,150**|**(154,299)**|**(23,194)**|**1**|
The financial results of the subsidiaries for the year were:
Page 36
## **YORK CITIZENS' THEATRE TRUST LIMITED**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 MARCH 2021_
## **17. Stocks**
||**Group**|Group|
|---|---|---|
||**2021**|2020|
||**£**|£|
|Finished goods and goods for resale|**3,333**|11,003|
## **18. Debtors**
|**_Due within one year_**
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income|**Group**
**2021**
**£**
**16,339**
**-**
**272,871**
**130,638**
**419,848**|Group
2020
£
75,162
-
367,113
189,234
631,509|**Charity**
**2021**
**£**
**16,339**
**215,656**
**57,214**
**129,385**
**418,594**|Charity
2020
£
75,162
366,819
294
180,534|
|---|---|---|---|---|
||||||
|||||622,809|
## **19. Creditors: Amounts falling due within one year**
|Bank overdrafts
Trade creditors
Amounts owed to group undertakings
Other taxation and social security
Other creditors
Accruals and deferred income|**Group**
**2021**
**£**
**-**
**53,941**
**-**
**10,859**
**76,689**
**219,857**
**361,346**|Group
2020
£
5,208
115,599
-
23,546
58,145
646,811
849,309|**Charity**
**2021**
**£**
**-**
**53,833**
**67,814**
**10,859**
**76,689**
**219,857**
**429,052**|Charity
2020
£
5,208
101,336
1,121
23,546
58,145
619,886|
|---|---|---|---|---|
||||||
|||||809,242|
Page 37
## **YORK CITIZENS' THEATRE TRUST LIMITED**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 MARCH 2021_
|Deferred income at 1 April 2020
Resources deferred during the year
Amounts released from previous periods
**20.**
**Statement of funds**
**Statement of funds - current year**
**Balance at 1**
**April 2020**
**£**
**_Unrestricted funds_**
**_Designated funds_**
Designated Fixed Asset Fund
**1,091,524**
**_General funds_**
General funds
**10,764**
Enterprises
**16,137**
Share capital
**41**
**26,942**
**_Total Unrestricted funds_**
**1,118,466**|**Group**
**2021**
**£**
**441,186**
**181,969**
**(441,186)**
**181,969**
**Income**
**£**
**-**
**1,542,527**
**352,591**
**-**
**1,895,118**
**1,895,118**|Group
2020
£
454,143
441,186
(454,143)
441,186
**Expenditure**
**£**
**(184,970)**
**(1,082,931)**
**(296,254)**
**-**
**(1,379,185)**
**(1,564,155)**|**Charity**
**2021**
**£**
**414,260**
**181,969**
**(414,260)**
**181,969**
**Transfers**
**in/out**
**£**
**196,152**
**-**
**-**
**-**
**-**
**196,152**|Charity
2020
£
432,686
414,260
(432,686)
414,260
**Balance at 31**
**March 2021**
**£**
**1,102,706**
**470,360**
**72,474**
**41**
**542,875**
**1,645,581**|
|---|---|---|---|---|
Page 38
## **YORK CITIZENS' THEATRE TRUST LIMITED**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 MARCH 2021_
## **20. Statement of funds (continued)**
|**_Restricted funds_**
City of York Capital Fund
Partricia & Donald Shepherd
Charitable Trust
Access All Areas
Arts Council Culture Recovery
Fund
The Berwick Kaler Foundation
Patio Project
NT Connections
Other restricted funds
Shepherd group - Uniform
Sponsorship
The Platform Project
Development Support Fund
(COVID 19)
Travelling Panto Project Funding
Arts Council Training Grant
**_Total of funds_**|**217,979**
**29,082**
**10,105**
**-**
**5,270**
**9,966**
**4,000**
**1,215**
**163**
**3,507**
**-**
**-**
**-**
**281,287**
**1,399,753**|**509,175**
**-**
**-**
**236,522**
**(1,683)**
**-**
**-**
**385**
**-**
**-**
**25,000**
**17,000**
**4,167**
**790,566**
**2,685,684**|**-**
**(27,133)**
**(625)**
**(236,588)**
**-**
**(450)**
**(4,000)**
**-**
**-**
**-**
**(11,109)**
**(17,000)**
**(4,167)**
**(301,072)**
**(1,865,227)**|**(196,152)**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**(196,152)**
**-**|**531,002**
**1,949**
**9,480**
**(66)**
**3,587**
**9,516**
**-**
**1,600**
**163**
**3,507**
**13,891**
**-**
**-**|
|---|---|---|---|---|---|
||||||**574,629**
**2,220,210**|
Page 39
## **YORK CITIZENS' THEATRE TRUST LIMITED**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 MARCH 2021_
## **20. Statement of funds (continued)**
**Statement of funds - prior year**
|**_Unrestricted funds_**
**_Designated funds_**
Designated Fixed Asset Fund
Digital Post & Development
Assistant Posts
Osbaldwick Final Refurb &
Relocation
**_General funds_**
General funds
Enterprises
Share capital
**_Total Unrestricted funds_**|Balance at
1 April 2019
£
1,212,464
71,957
11,356
1,295,777
130,175
141,825
41
272,041
1,567,818|Income
£
-
-
-
**-**
3,310,356
831,429
-
4,141,785
4,141,785|Expenditure
£
(249,773)
-
-
(249,773)
(3,513,080)
(957,117)
-
(4,470,197)
(4,719,970)|Transfers
in/out
£
128,833
(71,957)
(11,356)
45,520
83,313
-
-
83,313
128,833|Balance at
31 March
2020
£
1,091,524
-
-|
|---|---|---|---|---|---|
||||||1,091,524|
||||||10,764
16,137
41|
||||||26,942|
||||||1,118,466|
Page 40
## **YORK CITIZENS' THEATRE TRUST LIMITED**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 MARCH 2021_
## **20. Statement of funds (continued)**
|**_Restricted funds_**
BeSpectACTive
City of York Capital Fund
Partricia & Donald Shepherd
Charitable Trust
Access All Areas
Arts Council Culture Recovery
Fund
The Berwick Kaler Foundation
Patio Project
NT Connections
Other restricted funds
Shepherd group - Uniform
Sponsorship
The Platform Project
**_Total of funds_**|2,223
346,812
25,291
6,088
25,000
13,093
10,629
5,250
1,566
-
-
435,952
2,003,770|(894)
-
30,000
5,680
-
32,804
58
10,010
3,094
3,000
3,850
87,602
4,229,387|(1,329)
-
(26,209)
(1,663)
(25,000)
(40,627)
(721)
(11,260)
(3,445)
(2,837)
(343)
(113,434)
(4,833,404)|-
(128,833)
-
-
-
-
-
-
-
-
-
(128,833)
-|-
217,979
29,082
10,105
-
5,270
9,966
4,000
1,215
163
3,507|
|---|---|---|---|---|---|
||||||281,287|
||||||1,399,753|
## **Restricted funds**
City of York Capital fund - a donation of funding to support the Theatre with its ongoing capital costs and capital redevelopment projects. The transfer relates to the transfer of fixed assets from restricted to unrestricted funds, as the assets are held for general purposes.
Patricia and Donald Shepherd Charitable Trust Fund - funding received to support the provision of an Outreach Director to work with disadvantaged groups across the City.
Access All Areas - funding has been made from the Ed De Nunzio Charitable Trust to support the Access All Areas drama group. The group works with a group of young people aged 12-16 who are vulnerable, socially excluded or disadvantaged in some way and would not usually access out mainstream Youth Theatre.
Arts Council Culture Recovery Fund - This funding reflects the grant received and due for the round 1 bid for Cultural Recovery Funding.
The Berwick Kaler Foundation - The Foundation was set up in 2018 in celebration of Berwick’s 40 years as York Theatre Royal’s legendary pantomime Dame. The money raised supports community projects and enables disadvantages people in our community – young and old – to enjoy theatre in its many forms.
Page 41
## **YORK CITIZENS' THEATRE TRUST LIMITED**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 MARCH 2021_
Patio Project – these funds have been generated through a variety of appeals and events. The funds will we be used for the redevelopment of the Patio area.
NT Connections – these funds were received from the National Theatre to support the ‘Connections Project’ at York Theatre Royal.
Other Restricted Funds – during the year we also received funding of £3,094 from the ‘Pay It Forward’ scheme, providing free tickets for disadvantaged groups to see a number of productions across the year.
Shepherd Group – funding was received to provide uniforms for all staff within the organisation.
The Platform Project – a grant from the Ed De Nunzio Charitable Trust to fund a collaborative project for 16-21 year olds from the Walmgate area of the City. The project will provide outreach workshops from SPARK York.
Development Support fund (COVID-19) - This donation from a private individual was received to support the ongoing cost of Fundraising and Marketing during the COVID-19 pandemic.
Travelling Panto Project funding - Donations were received from the Friends of York Theatre Royal and City of York Council Ward FUnds to support the production of the Travelling Pantomime in December 2020.
Arts Council Training Grant - This grant was provided to support the ongoing professional development of the Chief Executive and Senior Management Team.
BeSpectACTive - a European project, funded by Creative Europe which is focussed on audience development, encouraging inter-cultural dialogue through the exchange of practices amongst professionals, artists and audiences in Europe.
## Transfers
Transfers in the year represent the release of capital grant funding and the release of funds previously designated by the trustees in to General funds.
Page 42
## **YORK CITIZENS' THEATRE TRUST LIMITED**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 MARCH 2021_
## **21. Summary of funds**
## **Summary of funds - current year**
|Designated funds
General funds
Restricted funds
**Summary of funds - prior year**
Designated funds
General funds
Restricted funds|**Balance at 1**
**April 2020**
**£**
**1,091,524**
**26,942**
**281,287**
**1,399,753**
Balance at
1 April 2019
£
1,295,777
272,041
435,952
2,003,770|**Income**
**£**
**-**
**1,895,118**
**790,566**
**2,685,684**
Income
£
-
4,141,785
87,602
4,229,387|**Expenditure**
**£**
**(184,970)**
**(1,379,185)**
**(301,072)**
**(1,865,227)**
Expenditure
£
(249,773)
(4,470,197)
(113,434)
(4,833,404)|**Transfers**
**in/out**
**£**
**196,152**
**-**
**(196,152)**
**-**
Transfers
in/out
£
45,520
83,313
(128,833)
-|**Balance at 31**
**March 2021**
**£**
**1,102,706**
**542,875**
**574,629**|
|---|---|---|---|---|---|
||||||**2,220,210**|
||||||Balance at
31 March
2020
£
1,091,524
26,942
281,287|
||||||1,399,753|
## **22. Analysis of net assets between funds**
**Analysis of net assets between funds - current year**
|Tangible fixed assets
Current assets
Creditors due within one year
**_Total_**|**Unrestricted**
**funds**
**2021**
**£**
**1,102,706**
**904,221**
**(361,346)**
**1,645,581**|**Restricted**
**funds**
**2021**
**£**
**-**
**574,629**
**-**
**574,629**|**Total**
**funds**
**2021**
**£**
**1,102,706**
**1,478,850**
**(361,346)**|
|---|---|---|---|
||||**2,220,210**|
Page 43
## **YORK CITIZENS' THEATRE TRUST LIMITED**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 MARCH 2021_
## **22. Analysis of net assets between funds (continued)**
**Analysis of net assets between funds - prior year**
|Tangible fixed assets
Current assets
Creditors due within one year
**_Total_**|Unrestricted
funds
2020
£
1,091,524
876,251
(849,309)
1,118,466|Restricted
funds
2020
£
-
281,287
-
281,287|Total
funds
2020
£
1,091,524
1,157,538
(849,309)
1,399,753|
|---|---|---|---|
## **23. Reconciliation of net movement in funds to net cash flow from operating activities**
|Net income/expenditure for the year (as per Statement of Financial Activities)
**_Adjustments for:_**
Depreciation charges
Bank interest
Loss on the sale of fixed assets
Decrease/(increase) in stocks
Decrease/(increase) in debtors
(Decrease)/increase in creditors
**_Net cash provided by/(used in) operating activities_**|**Group**
**2021**
**£**
**820,457**
**183,776**
**(1,906)**
**1,194**
**7,670**
**211,665**
**(481,804)**
**741,052**|Group
2020
£
(604,017)
249,773
(5,042)
-
(1,511)
(142,781)
(173,251)
(676,829)|
|---|---|---|
Page 44
## **YORK CITIZENS' THEATRE TRUST LIMITED**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 MARCH 2021_
## **24. Analysis of cash and cash equivalents**
|Cash in hand
Overdraft facility repayable on demand
**_Total cash and cash equivalents_**|**Group**
**2021**
**£**
**1,055,669**
**-**
**1,055,669**|Group
2020
£
515,026
(5,208)|
|---|---|---|
||||
|||509,818|
## **25. Analysis of changes in net debt**
|Cash in hand
Bank overdrafts repayable on demand
**Capital commitments**
**Group**
**2021**
**£**
**_Contracted for but not provided in these financial_**
**_statements_**
Acquisition of tangible fixed assets
**16,483**|**At 1 April**
**2020**
**£**
**515,026**
**(5,208)**
**509,818**
Group
2020
£
-|**Cash flows**
**£**
**540,643**
**5,208**
**545,851**
**Charity**
**2021**
**£**
**16,483**|**At 31 March**
**2021**
**£**
**1,055,669**
**-**|
|---|---|---|---|
||||**1,055,669**|
||||Charity
2020
£
-|
## **26. Capital commitments**
## **27. Pension commitments**
The group operates a defined contribution pension scheme. The assets of the scheme are held seperately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £23,633 (2020: £27,633). £5,007 (2020: £15,751) was payable to the fund at the Balance Sheet date and are included in creditors.
Page 45
## **YORK CITIZENS' THEATRE TRUST LIMITED**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 MARCH 2021_
## **28. Operating lease commitments**
At 31 March 2021 the Group and the charity had commitments to make future minimum lease payments under non-cancellable operating leases as follows:
|Not later than 1 year
Later than 1 year and not later than 5 years
Later than 5 years|**Group**
**2021**
**£**
**45,838**
**113,161**
**351,979**
**510,978**|Group
2020
£
83,338
131,749
379,229|
|---|---|---|
||||
|||594,316|
Of the commitments above, £488,229 (2020: £552,979) is payable to the York Conservation Trust in relation to rent.
## **29. Related party transactions**
York Theatre Royal Enterprises Limited is a wholly owned subsidiary of York Citizens' Theatre Trust Limited. Some of the trustees of the charity are also directors of the company. At the year end, amounts owed to York Theatre Royal Enterprises Limited were £67,814 (2020: £1,119). During the year the charity received income from a management charge of £10,770 (2020: £34,296). In addition, the charity allocated grant of £172,712 to the subsidiary.
York Theatre Productions Limited is a wholly owned subsidiary of York Citizens' Theatre Trust Limited. Some of the trustees of the charity are also directors of the company. At the year end, amounts owed from York Theatre Productions Limited were £215,656 (2020: £366,819), this amount reflects tax credits due from the subsidiary.
During the year there was income of £nil (2020: £992) with York St John University, a charity in which Ann M Green was a trustee of during the year and Dr Ajivit Datta was a Foundation Committee member. A balance of £50 is owed from (2020: £218 owed from) the University by the charity as at the year end.
During the year expenditure totalling £nil (2020: expenditure totalling £nil) was paid to York Museums and Gallery Trust, a charity in which David R Jagger was a trustee during the year. A balance of £nil is owed to (2020: £162 owed to) the Trust from the charity as at the year end.
During the year expenditure totalling £nil (2020: £233) was paid to a legal firm of which Tiggy Clifford is a Designated LLP member for employment advice. A balance of £nil (2020: £317) is owed to the firm by the charity as at the year end.
There are no other related party transactions to disclose.
Page 46