)? Registered number.. (K)317560 Charity number- 229396 YORK CITIZENS, THEATRE TRUST UMITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 "AcIzwJfK• 2311W2023 COMPANIES HOUSE A17 164
YORK aTIZENS' ThEATRE TRUST UMITED CONTENTS Paee Reference and zdmini51ratl¥e details of the charlty, ItsTrustees and ad¥isers Trustees. report 3-10 Independent auditor's report on thefinan¢ial statements 11-14 Con501idated 5taternent of finandal actl¥ities Is Consolldaied balance sheet 16-17 tharlty balance sheet 18-19 Consojidattd statemÈnt of ffto¥ Notes to the flnandal Statements 21-49
YORK cfTIZÉNS'THEATRETftUST UMITED REFERENCE AND ADMINISTRATtVE DETAILS OF THE CHARITY. ITS TRUSTEES AND AOVISERS FOR fHE YEAR ENDED 31 MARCH 2023 Trustees Ann M Green CBE. Chair Cath Oelland MBE lappointed 14 Au8VSt 20221 Tiggy Clifford Iresigned 17 April 20231 Crai8 Colton lappointed 14 Augusr 20221 Avijit Datta IresiEned 6 December 2023 sie¥en Jackson-winter lappointed l January 20231 Richard JaBger (resigned 17 April 20231 Saira Khan (appointed l January 20231 Matthew Noddin8s lappointed 14 August 20221 Maggle Pavlots lappointed 14 August 20221 Katie Posner Romana Shah (resigr 25 April 20221 Richard 5miih (resigned 3 August 20231 Paul Smiih Will 2huane Mairhew Hunnybun lappointed l Marth 20231 Company regSstered number C#)317560 tharity registered number 229396 Registered office St Leonards Place Yk YOI 7HD Company secretary Julie Crampsie Chief executive officer Paul Crewes lappointed 9 Oclober 20231 Independent zuditor BHP LLP Chariered Accountants Ilievaulx House I St Mary's Court B105$0m sireet York V024 IAH Bankers HSBC 8ank PLC 13 Parliament Street York Yoi 8XS PaRe I
YORK OTIZENS. THEATRE TRUST UMITED REFERENCE AND ADMINISTRATrVE DETAILS OFTHE CHARITY, ITSTRUSTEES ANDADVISERS ICONTINUEDI FOR THE YEAR ENDED31 MARCH 2023 Sollcltors Rollits LLP For5Vth House Alpha Courr Monks Cross Drive York Y032 9WN Investment Managers CCLA Senator House 52 Wittoria Street London EC4V 4ET Pagt 2
YORK cmzENS' ThEATRE TRUST UMrrED TRUSTEES. AEPORT FOR THE YEAR ENDED 31 MARCH2023 The Trustees are eased to present their annual report iogether with ihe ¢¢)nsoiidated audited financial statements ol the charity and its subsidiarie5 for the year ended 31 March 2023 The financial slatement5 corn¥ with the Charilies Att 2011. Ihe Companies Act 2CXJ6. the Articles of Associat0 and Aicounting and Reportin8 by Charities Statement of Recornmended Practice applicable to charities preparing their actounis in accordance wth ihe Financial Reportine Standard applicablè to ihe UK and Republic of Ireland IFRS 1021. Sinte the charity and the group qualifies as small under section 383. the strategic report required of medium and large companies under The Cornparties Aci zc)6 (Strategic Report and Director's Reportl Regulations 2013 is not required. Objertives and Acli¥ities . Policies and objerti¥es Oblerts of ihe Charlty The Articles of Assooation of the Trust detail the primary objects of the Charity.. these can be surnmarised as.. To conserve, develop and enhance York Theatre Royal for the benefit of ihe public. a5 a working Iheatre. for the sole purpose of advancin8 the education ol the public in the appreciarion and under5tandin8 of the dramatic and musical art5 in all their forms. To promote and advance education by the encouraÉemerf of the arts, to improve the general siandard of dramatic produttions in York and elsewhere. and io provide the Charity's theatre to be used for public lectures, cinernatic performances w other eniertainments and exhibitions considered to be of educational merit. To ¥e£ENe, educaie arKI irain students in the arts of drama. mime. dance. music. ballet, opera. puppetry, painting and stulpture. photography. cinema. Itterature and poetry. Idi To acouiie interest in copyright and rbBhis of representation and other right5 of or in plays. music. songs, word5. operas. comedies and £omposition5 of an educaiional rnerit or calculated to improve ihe general siandard of dramatic prodvctions in York and dsewhere fof Ihe bertefit of the public TL) carry on the busines5 Of the Sale of food. drink ar¥J pfo8rammes. such activities to be solely ancillary to the furtherance of the Charilvs Oty'ects. York Thearre Royal is a producing theatre. The theatre premises are owned by York Conservation Trust and are leased to the Charily. The premises include the Main House 1761 capacity) and the Studio 186 capacity). with extensive foyer catering areas served by 3 full production kilchen. The Charily also renls a unit in Osbèldwick for the purposes of costume hire and product*on 5tora8e. We acquired space at HaT8rave House that house5 our rnakin8 wardrobe. The 3-year lease wa5 518ned in October 2022. Page 3
YORK cmzEN5' THEATRE TRUST UMrrED TRUSTÉES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 b. Strate8ic Cfmtext The Charity feceive5 revenue funding as an Arts Council Eng13nd National Portfolio OrgaThsation INPOI and normally aligns Its strategic planning with that lunding cycle. In Novernber 2022 Ycrr was inlorrned that our application had been successful and that we had been awarded an investrnent of E598,059 for a 3-year period from 2023 to 2026. ACE stated '(r911. York Theatre Royol's 2023-26 octivity wtll consolidote work to dore with o cleor plon to deliver J ploce-bosed high quoltty ¢reattve ond culturol proqramme - underpinned bytommunity co<re0tn ond CYP eng09ement.' The or81$ation.s cwe purpose stattmenl rEad5 as foll(V. York Theaire Royal is a brave treative hub at the heart of the tity. and it is here for you. These sta8es. buildings and our oty will thrr4e with live theatre of exceptional quality made with you - the world's most exciting artists- with more of the world's most extiting artists. We wlll be known and admired e¥erywhere for T*oik wlth Vou. The or8anisaiional values we adopted in 2018 remain in aCe. We are ambitious. throughout the Qfganisation We are sturdy We Care about the climate We ale welcomin8 We are amba55adors for York We celebraie the Citvs diversity- it rnakes us bloom We are creative in e¥ery coni We pull togethef Howthe tharity deli¥ers its tharitable The Charity Seeks to further rts purposes for ihe wblic benefii through its core programme of crEaiive actimty including.. its production. co-producrion and presentarion of drama and other performinR arts events together with its extensive learnin& engaRemenr and pariicipation prramme$ with young people and adylls. developed throuRh well defined regional, national and international relationships. Pa£e 4
YORK OTIZE14S' THEATRE TRUST LIMITED TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 c. Revlew of ¥afvIe$ Achievements in Xl22-23.. Creative En8a8ement planned to estèblth three community hubs but in fau established five in New Earswick, Acomb, Drin6house5. Tan8 Hall. and York St John Unwersity. Highlights in artist developrnent included GREEN SH(KJTS. the commiss•r and pre5entin8 of local artist work irs the Main House, and TAKÉOVER. workin8 With york St John students lo plan and present a festival at the theatre. Delivered ihe mid-scèle community play THE COPPERGATE WOMAN surpassing the nurnber of planned new participants. The goal had been 33% but irt lact 46% of ihe participants were new. Appointed three very irnpres5ive Resident Arbsts lo work alongstde ArDstic Associaie John Wilkinson. Their input has proved extTernely valuable to the artistic life of the theatre. They work with ihe Creative Director and CEO in the future artistic plannin8 Df the organisation. They are Misha Duncan- Barry, Gus Gowland and Mingyu "n. Continued to rebuild our audience for Panlomime following the pandemic. This year was our second woduction in collaboration with Evdulion ol ALL NEW ADVENTURE5 OF PETER PAN. Brought dance to the YTR sta8e vrrith BALLET BiACK and PHOENIX DANCE and welcomed KIEV CITY BALLET for the first tirne to York. We woduced our own produrtion of a YfR commissioned play. GUY FAWKES in the autumn. a5 well as co-producin8Wlth Pilot Theatre a very successfvl produuirffi of NOUGHTS ANO CROSSÉS. and the world premiere of AUN REBEL. We continued to present a range of touring Pfoductions includingTHE MIRAOR CRACKED. OTHELLO by Frantic Assembly and GIRL FROM THE NORTH COLINTRY which has achieved 8at success in London and New York and launching the tour of Stewart Lee. The new ie-designed Patio Garden was opened to the public. Tom Bird left York Theatre Royal in February 2023 having been Chief Executive for S years. An interim CEO Michael S13vin was appointed from the Senior Management tearn whilst arrangErnents were rnade to recfult a new Chief Executive. Paul Crewe5 has been appointed as the new Chief Executive ol York Theatre Royal and took office from 2 October 2023. d. Plans for Futuie Periuds To deliver the commissioned work SOVEREIGN at Kin85 Manor ¥th a large cornmunity Cèst. building on the success of The Coppergate Woman. To continue to build relatronships with tourin8 companies like Wise Children. Frantic Assembly* the Royal Shakespear Company and Original Theatre, as well a5 continue to build new TelatlOll5hips with cornpanies like Rambert Dance. To start Wofk on LAYER 9. the development of the backstage area of the theatre, cfeatin8 acce55ible and 5tructurallv Stable inlrasiructure to allow us w coniinue operatin8 in a safe and easant environrnenl belter suited to our needs. The lunéraisin8 plannin8 will start in earnest by the be8bnnin8 of 2024. To Increase our offer of food and bevErages throughout the day. Pa8e S
YORK cmzENS' ThEATRETRusf UMffED TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED31 MARCH2023 e. Investment poli07 and perf(m•n The Tru5tee5 have determined a Low Risk l Low Returo financial investmenl policy. Low Risk is defined as only inve5trnent5 on which Capital is guaranteed. The terms of any investmeni will be easily accessible with no long term commitrnents. Investmeni accounts and in¥e5unent Veludes myst be agreed by the Chairrnan and the ChaTrr ol the Finance and Capital Commitree. Any Investmeni opportunities ihai arise that are outside the definition above, and could be considered Medium Risk (for e¥ample where the capital is not guaranteed but a reasonable return is expectedl will be reviewed on a iase by case basis. A detision on Medium Risk inve5trnents will be m3de by the full Board. Financial re•iv4 . Goirrf cOnrn The activitie5 of the Group. together with the factors likely to affeu its future developmet)t and performance. are set Dut in the Report of the Trustee5. The financial position of the Group. its cashflow and liquidity afe described in the Financial Statements and accornpanying notes. At the year end the Group had cash reserve5 of £849.821 plus £487.810 liquid intrnents together with reported net assets of £1.818.230. HLSwe¥er. for the year ended 31st March 2023 the Group reported a General Fund deficit of £299.148 and forecasts based on current projertions repgrt a similar deficit for following financial year. As a result. the Group could experientE cashnow challenges in early 202S. As noted in Ihe Trusiee5' Report. the Group has not experienced what m*hl be considered norrnal tondilions since the Covid-19 pandernic. Thealre attendances and incorne lor the period have not irKreased back to 2019 leve15 while inflation nd the Ukraine conflict have incrt35ed c05t5. The Ttuslees recognise that there is much uncert3inty. and the economic dimate continues to be challenging. Constani work is ongoing to seek new operating income opportunities and other funding Options. Together with new init13tives in 2024 the Group plans to rethjce the annual deficit and continue delNerin8 live theatre of exceptional high quality tn the heart ol York. Intensive work 15 ongo¢ng to maximise every financial opportunity. The cashflow challen8es ment¢oned above in early 2025 would reflect the traditional low point in the cash cycle. Addilional funding u5 ihe Interventions would manage the cash shortfall in 2025 but more work is required to secure the position. b. ReseNes policy The trustees have agreed that it ¢5 necessary to maintain sufficient reserves in its General Funds to enable the organisation to respond to Short term fluauations and to provide sufficieni liquid reserves to meei fixed costs plus any foreseeable capitsl expenditure. The theatre's current target free resewve is to endeavourio mainiain positfve free reserves. c. Flnanclal posltloft After the challenges posed by Cowd-19. the theatre hès continued a recovery that was underpinned by efficsency 5aving5 across the organisation in 20221. as well as the Culture Recovery Fund & ACE Emergency Fund. The theaire ends 2022-23 with a defioi of E291.841 before deweciation. Free SelVeS will be £234,957. Page 6
YORK cmzENS' THEATRE TRUST LIMITED TRUSTEES, REPORT ICONTINUEOI FOR THE YEAR ENDED31 MARCH 2023 At the year end. unresiriaed funds are £1,512,71312022-. £1.83S.90SI. indvdinB de5iBnaied funds of £1,277.75612022: É1.301,80013nd restricted fuftds are E305.51712022.. £460.2301. FundralslnK poll£v We ièise a small per£entsge of our funds from the public and our aim is to ensuTr we do thi5 in both a re5pecifvI and compelling way that is consistent with DUV value5. The tharity is a member of ihe Institute of Fundraising and supports lis purpose and activities. All fundraising conducred on behèlf OF the charity. whether by committees. voltsnteers or staff, must cornply with the Fundraising Regulator and The Code of Fundraising Practice tO8ether wilh all relevant legt51ation. The Trustees are not aware of any lailure in complyin8 with ihe new Code and legislation. The charity did not employ a professional fundraiser nor any commercial parricipator in fundraisi in the year. The charity has a t)evelopment and Communications Committee that indude5 in its membership both trustees and co- opled rnembers. This commillee monitors all fundraising by and for the charity. The Trustee5 monitor the Development Subcommittee wa reports and minuies on a quartedy basis. The tharity has received no complaint5 aboui its fvndraiyng activity in the year. The charity insists that all members of the PU1( will not be subject to fundraisire art¢¥ity that is at7 unreasonable intrusion on that person's privaryi is unfea50nably persÉstenL or places undue pressure on a person to give money or other PTopertv. Structure, go¥emante manageme a. Constltutlon The chzrily and the group is reeistered a5 a members lirnited liability company and was set up by a Memofandum of Association on IS August 1936. subsequentfy broughi up ro date by Arricles of Associati¢n adopted on 21 April 2016. The charity and the group s c511tUted under Arttdes of A5SOCiation dated 21 April 2016 and 15 a registered charity number 229396. The printipal objerts of the ¢h•rity the growb are: To conserve. develop and enhance ihe premises known a5 Ywk Tr*aire Royal for the tjenefit of the publiG as a working thealre and a place with hisiorical a$50ciations and to acquire for any consideration or interp5t, construci or maintain theatres In York or elsewhere and to alter. rebuild. reconsirutt. 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 rhe sole PUTpose Df advancin8 the education of the publit in Ihe apweciation and understandin8 01 the dramatic and musical arts In all theii forms. To carry on any theatie for the time being owned, leased or occupied by the Charity to promoie. maintain. irnprove and advance edycètion by the encouragEment of ihe arts, induding the arts of drama. mime. dance. music, ballet. opera, puppetry. painting and sculpture. phoio8raphvt cinerna. literature and poetry artd to improve the 8eneral standard of dramatic productions in York and elsewhere. and also if and in so far as rnay be praclicable to prwde the Charity's theatre or permit the same to be used for public lecture5. cinematic performances or other entertainments and exhibilions £on5idered to be of educational rnerit_ Page 7
YORK CITIZENS, THEATRE TRUST iIMITED TRUSTEES, REPORT ICONTrNUEDI FOR THE YEAR ENDED 31 MARCH 2023 To receive. educate and irain students in the arts of drarna. rnime. dznce. rnusit. ballet. opera, puppetry. painiing and sculpture. photography, cinema. literature and poetry and to promote recognition of and encouragement of exceptional merit in students by the institutional we5entation of scholarships. exhibitions. grants. medals or other prize5 or benefactions. To purchase or otherwise acquire and obtain exdusNe and other inieresi in copyright and rights of representation and other rights of or in plays. rnusic. songs. words. operas, comedies and compositlDns of an educational merit or calculated to improve the general siandard of dramatit produttions in York and elsewhere for the benefit of the public. In ftsrtherance of the above objecis to carry on in connection wilh any iheaire owned or for the time being in the occupation of ihe Charity in York or elsewhefe ihe busine55 of the sale of refreshments. food and drink and publications, such activities to be Sole ancillary to the furtheran of the Charity'5 Objerts. The Board of Trustees meets ordinarily four times each year. The Charity has resolved to dispense with an Annual General Meeting. In addition, Trusiees have established the following committees to report to the Board of Trustee5 on aspecis of the Charity's business.. Finance and Cawtal Audit Oevelopment & Comrnunications Personnel and Governance The roles of Equalities Champion and Environrnental Champion are each a55igned to an indiwidual Trusiee. A Trustee observes the Charity'5 klealth and Safety Committee meetings. The Charity has two trading subsidiaries which form part of the group and in whith it IS Ihe sole shareholder.. York Theaire Royal Enterprises Ltd and York Theatre Produttions Ltd. All profiisgenerated by the Tivsys subsidiaries are'gifterf to the Charity. The Trust and its sub&diaries operate as a group for VAT purposes. The relationship between the Charity and its subsidièries is clearly ser out in a relaiionship agreement under which the Charily promdes a range of servi5 to its subsidiaries. These intlude IEase and buildings mèintenance. strategic rnan4ement. employment and provision of staff, administration lintluding HR and Finance). insurance and the provision of assets for use by the subsidiaiies. The subsidiarie5 receive a M3nagernent Charge to cover the costof these services. b. IethOd of appointment orelertion of TNstees The management ol the charity and the group is the responsi11 of the Trustee5 who are elected and co opted under the terms ol the Articles of Association. c. Policies adopted f(* the induction and irainin8 of Trustees New Tru5tee5 are inducted into the or8anisalion throu8h a series of meetin85. The Board has rerms of reference for 311 8oard rneeting5 and Board Cornrnittees. There is an annual rewew ol the Board ski115 base and open recruitrnent for all Trustees. There is an intent that the Board is repre5entati¥e of the UK cornrnunity. Each year Tru5tee5 aim to hold an Away Day with the Executive to review the strategic direction of the frust. Pa8e 8
YORK CITIZEP45' THEATRE TRUST LIMITED TRUSTEES, REPORT ICONTINUEDI FOR THÉ YEAR £NDE031 MARCH2023 d. Pay policy for senlor staff The pay o15enior staff 15 rewewed annually and normally increased in accordance with average earnings. The Trusiees benchmark against other prowncial producing theatres of a sjmilar slze run on a VDlunièry basis. The remuneratio benchmark 15 the point of the range paid for simrlar role5. e. Qryisational stryrture and dedsim maki The Trustees determine the general polity of the Charity. Under the overnll direction of ihe Trustees the day-to-day management Is delegated to the Chief Executive. f. Risk management The Trustees have assessed the rnajor risks to which the Charity and the grovp 15 exposed. in partitular those rdated to the operations an¢J finances of the Chariiy and the 8roup. and are sat15fied that 5V51ems and procedures are in plate to mili83te exposure to ihe rnajor risks. The Charity maintsins ? Risk Ftegister. which is reviewed regularly by the trustees. The irustees recognise the finances of the Charity will ¢tinUe io benefit fTom the valuable support of Arts Council Eneland. Trustees. respon$llM1ities statement The Tru5tee5 Iwho are also tlirettNs of York tilen$. Theatre Trust tirnited for the purposes of company lawl are responsible fot preparing the Trustees. report and the finanaal statements in accordance with applicable law and United Xingdorn Accounting Standards (Uniied KinedLn Generally Accepted Accounling Practice). Company law requires the Trustees to prepare fihanoal statements for eath financial year. Under company law the Trustees must not approve ihe fjnancial siatements Unless ihey aTe $3ti5fied that they 8ive a true fail wew of ihe state of afiairs of the charitable company and the group and of the incoming re50urtes and application of re50tsrces, 1cluding the incDrne and expenditufe. of the charitable gtoup for that period. In preparin8 these financial starements. the Trustees re required to: selea suitable atcounting policies and then appty them consistently. observe the methods and prinaples in the tharitie5 SORP.. make judgments and accounti estimates that are reasonable and prudent.. prepare The finanoal 3trnents on the 80ine toncern ba515 unle55 It is inappropriaie ro presume ihat the charirable group will continue in operatlDn. The Trustees are responsible for keepinR adequate accounting records ihat are suffitient to Show and explain the haritable company and the group's transactions and disclose with reasonable accuraty at any time the financial Posliion of the charitable group and enable them to ensure that the financial 5tsternents comply with the Companies Act 2005. They are also responsible for safeguarijing the asset5 01 the chantable company and the Broup and hence for taking reasonable steps for the prevention and detection ol fraud and other irre8ularities. Page 9
YORK CITIZENS. THEATrE TRUST LIMrrED TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH2023 Dlsclosure of Snfomiatlon io audiior Each of the Trustees at the tirne when this Tru5tees' report is approved has confirmed ihat.. so far as that Ttusiee is aware. theTe is no relevant audil Inf¢ymation of which the charitable group's auditor is unaware. and thai Trusiee has taken all the steps that ought to hève been taken a5 a Trustee in order to be aware of any rdevant audit information and to establth that the (haritable group's auditor is aware of that informatson Audltor The auditor, BHP LLP, ha5 indicated its willingness to continue in offKe. The designated trustee5 will proposÈ a rntstion reappointing the auditor at a meeting of the Trustees. Approved by order of the members of the board of Trustees and signed on their behaw by: 70. 202314..41fjMn CalherinCldtsndlDe{.1O23 J7..51GIIT) Ann M G*en CBE Cath Cldland MBE FCMA Trustee Trustee Date.. 20-Dec-2023 Page 10
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YORK cmzENS' THEATRE TRUST UMITED INDEPENDENT AUDITOR'S REPORTTOTHE MEMBERS OF YORK CITIZENS, THEATRETRUST LIMITED rinancial siatemenis or our knowledge obtained in the course of the audit or otherwise appears to be materiallv misstated. If we idenfify such maierial inconsistencies OT èppaient material rnisstatements. we are required to determine whether this gNes rise lo a rnaterial misstaternent in the financial statements themselves. If. based on ihe work we have performed, we conclude that there is a rnaterial fflis5tstement of this other information. we arp iequired to report that fart. We have noihing to report in this regard. Oplnlun5 on other mattws Fwes¢ribE41 bythe Companie5 Art 2006 In our opinion. based on the work undertaken in Ihe course of the audit.. the information 8iven in the trustep5' report Iincorpjrating the directors. report) for the financial year for wCh the financial staternents are prepared is consistent with the financial statements.. and the direttors, report has been prepared in accordance applicable legal requirements. Matters on which we are required io leport by exceptio In the lieht of the kn¢)wledge and UnderStding of ihe erovp and parent charitable cofflpany and its ènvironment obtained In the course of the audit. we have not identified rnarerial missiatements in the dirertors, report. We have nothing to report in respect of the follo"ng mjtters in felatw to whKh the Companies Act 2006 requires us to report to you if. in our opinion= adequate and suffioent acttrjnting records have not been kept by thè parent tharitable company. or returns adequate for our audit have not beefi recewed from branches not visited by us,. or the parent charitable companvs fbnancial statements are not in aefeement with the accounting records and returns.. certain disclosures of director5. remuneration specified by law are not made.. or we have noi received all ihe informatii)t) and explanations we require for ovr audit: or the rrusiees were noi eniirled io prepare rhe financial statements in accordance with the srnall tompanies, regime and lake advanrage of the small companies, exernpvrms in preparing the dirertors, report and from the requirement to prepare a strategjc report. Responslblltles of trnstee5 As explaine& more fully in the trustees. responsibilities siatement. the trustees Iwho are also the directors of th2 parent charitable company for the purposes of company lawl are pONsible for the preparaiion of the financial statements and lor being sat15fied that they give a true and fair view, and for such internal control as the trustee5 determine is necessary to enable thÈ prÈpafation of finantial StateMer that arè frÈè from material rnisstatement, whether due to fraud or error. In preparing ihe financial statements. the trustees are responsible fEN assessing the group and parent charitable company's ability ro continue as a going concern. disclosin& as applicable. maiters relaied to going concern and using the going concern basis of accountin8 unless ihe trustees either intend to liouidate ihe group or parent charitable company or to tease opeiations. or have realistic alteMatlE but to dDSO. Page 12
YORK cmzENS' THEATrETRUST UMfTED INDEPENDENT AUDITOR'S REPORTTOTHE MEMBERS OF YORK CITIZENS, THEATRE TRUST LIMITED ICONTINUEDI Auditor responsiblliiles for the aud•t of the finarxial ststefflents Our objective5 are to obtain reasonable assurance about whether the financial statement5 as a whole are free from material misstatement. whethw due to fraud or error. and to issue an auditorfs report that includes our opinion. Reasonable assurance is a hgh level ol èssurance. but is not a guarantee that an audit condutted in accordance with ISAS IUKI will always detect a rnatefial misstatement when it exists. Misstatements tan arise from fraud or error and are considered mateti31 if. individually or in the aggregate. they could reasonably be expected to influence the economic decisions of u5er5 taken on the basis ol these financial staiements. Irregularities. induding fraud. are in5t3nces of non-tomplianee wth laws and reeulations. We design procedures in line with our responsibilitie5, Outlined above. to detert rnateri31 rnissternents in respect of iiregularitie5. including fraud. The xtent to which our procedures are CaPae of detecting Irregularit5. intlvding fraud is detaileo below= the eneagement partner ensured that the engagement team collectwely had the appropriaie competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations.. we identified the laws and regulations applicable to the group and parent eharitable company throu8h dlscusslons with management and trustees. and from our knowledge and experiente of this organisation- we focused on specific laws and regulations which we considered rnay have a direct material effect on the finanoal statements or ihe operations of the group and parent charitable COMny, includine the Charities Act 2011, the Companies Art 2006. data protection. health and Safety legislation. CQC fegulations ènd employment law- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of managernent and tru5tee5" We assessed the susceptikn.lity of the group and parent Charitable companrfs financial 51atements to material misstaternent. including obtaining an understanding of how fraud m*hi occui. by,. making enquiries of management and trustees 35 to where they considered ihere was susceptibility to fraud, their knowledge of artual. suspected and alleged fraud,. and onsidering the internal contr5 in place to rnitigate risks of fraud and non-compliance with laws and regulations. To address the risks of (raud through management bia5 and override tontrois. we.. performed analylical procedures to identify any unusual w unexpected variances- tested jDurnal enrries io ider)iify unusual iransactions.. assessed whether jud8ments and assumptions made in determining the aOUntIng e5tirnates set oul in note I wefe indicative of potential bias- and inve5tigèted the rationale behind 5ignifitant or unusual transattions. In response to the risk of iNegulariiies and non-compliance with laws and regulations. we designed procedures which included. but were not limited to- agreeing financial statement disc105ures to undertying supporting documentation,. reading the minutes ol meeiin8s of those charged with governance- enquirin8 of mana8ement as to actual and poiential lirigaiion and claims. 8ecause of the inherent limitations of an audil. there is a risk thai we will not delect all irregularities. including those leading to a material mi5St3tement in the financial staternent5 or non-cornpliance with regulatlDn. This risk increases the more thai compliance with a law or regulation is removed from the events and transactions reflected in the financlal statements. as we will be less likely to become aware of Instare5 of non-compliance. The risk is also greater regarding Page 13
YORK cmzENS'THEATRE TRUST UMITED INDEPENDENT AUDITOR'S REPORTTOTHE MEM8ERS OF YORK CIT12ENS' THEATRE TRUST LIMITED ICONTINUEDI irguI311tles occurring due to fraud rathei than error. as fraud involves intentional concealmeTht. for8ery, collusion. omission or m1srepre5entIOn. A furthef desiription of Ouf fesponsibifities is available on the FRC'S website ai.. www.frc.or8.uk/auditorsresponsibililies. This descriptTon forms part of auditor's report. Ust 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 Cornpanie5 Act 2006. Our audit work has been undertaken so that we might state to the charitable company s mernbers those matters we are required to state to them in an auditorf5 report and for no other purpose. To the fullest extenl permitted by law. we do not ac(ept or assume responsibility to anyone other than the charitable company and the charitable compamrfs members as a body. for our audit work. for this report, or for the opinion5 we have formed. Laura Masheder (Senr statory audrtofl for and on behalf of BHP LLP Chartered Accountants Starutory Audiror Rievaulx House I St Mary's Court Blossom Street York Y024 IAH Oate-. 2011212023 Pège 14
YORK ClnZENS' THEATRE TRUST iIMrrÉo CONSOLIDATED STATEMENTOF FINANCIALACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOA THE YEAR ENDED 31 MARCII 2023 Total fvnds 1013 Total funds 2022 funds 2023 fund5 1023 Note Income fwofft: Donations and legacie5 Chaiiiable activities 711 106.705 818.568 1495,440 700.799 3.012 1,358,636 1,495,386 418.510 1.326 WSA40 7110,7Y9 Other trading activities Investrnents 3.012 77.498 Other income 79.n8 262.631 Toial income 3.988.612 108,935 4.(197.S47 3,536,489 E¥pendlture on.. Raising funds Charitable acriviues 9.10 11,12 8S7.388 3.604.556 31J57 71.185 889,74S 3.675.741 747,780 2,710,560 Totsl expenditure 4,461.944 103.542 4565.486 3,458,340 Net (expendlTellin¢Offte before net losses In¥estmen15 14733321 19,9661 5,393 1467.9391 19,9661 78.149 12.2241 Net1055es on investments Net lexpendItu>11nCaffle Transfers between funds 1483,2981 160.106 S.393 II60.1061 1477.9051 75.925 22 Net mtr4ement in funds 1323,1921 1154.7131 I4?7.5) 75,925 Reconciliatlon of fvnd5- Total funds brought fofward Net movement in fvnds I5.15 1323.1911 460.230 1154.7131 2.296.U5 1477,X151 2.220.210 7S.925 Total lunds carrled forward 1.512,713 305.517 IA18,230 2,296,135 The Consolidated Statemenl ol Financial Attivities COrnF4ies with the requiremenis for an income and expenditure account unt1ei the Compantes Act.21AJ6 and rndudes all gains and105ses recognised in the year. The notes on pages 21 to 49 fc part ofthese financial statements. Pa8e 15
YORK cifuENS' THEATRE TRUST LIMrrED REGISTERED NUMBER= (KJ317560 CONSOLIDATED BALANCE SHEET ASA T31 MARCH 2033 2023 2022 Note Flxed asgets Tanble asset5 Investment5 17 1.041,916 487.810 1,065.960 497.776 18 1.529,726 1.563,736 Current assets Stocks 19 10.261 604.596 9.175 Debtors 20 421,506 1.111,681 Cash at bank and in hand 25 S4921 IA64.678 l.S42,362 Credttors.. amounts falling due wit?Mn one year 21 IL176.1741 1809.9631 Net turrent ass$ I.504 732,399 Total net assets IA18.230 2,296.13S Charity lunds Restritted funds 22 305.517 460,230 Unrestricted funds De5ignaied funds General lunds 22 1.277.756 134.957 1,301.81XJ 22 534.105 Total unrestritted lunds 22 l.S12.71J 1,835,905 Total lunds 1.818.230 2,296,135 Pa8e 16
YORK CITIZENS. niEATRE TRU UMITED REGISTEAEO NUMBER: 00317560 CONSOLIDATEO BALANCE SHEET ICONTINUEDI ASAT31 MARCH 2023 The TrJstees acknowledge their responsibilbtse5 for complwng wTrth the requirements of the Act with respect to Kcounting records and preparation of finanual Statements. The financial Statements have been prepared in accordance with the PrO90n5 applicable to entittes subject to the small ompanie5 rewrne. The financial statements were appfo¥ed and auihorised f+X issue by tr Tru5tee5 and 5wied on their behalf by: 20, 2023 14.44GIffj 'C4thtri(1thfidIDe( 10.3013 17..SI Gmn Ann M Gi*en C8£ Trustet Cath Cle11 MBe FCMA Trustee Date: 20 December 2023 The notes on pages 21 to49 lo part of these financial siaternents. Page 17
YORK aTIZENS' THEATRE TRUST UMITED REGISTEREO NUMBER-. (KJ317560 CHARITY BALANCE SHEET ASA T3J MARCH 2023 1023 2022 Note FIJEed assets Tangible a55et5 Inve5trnents 17 1.041.916 487,813 1.065,960 497,779 18 L529.729 1.563,739 Cuirenl assets Debtors 20 635528 679319 533.994 965.243 Cash at bank and hand 1314,847 1,499,237 Creditors: amounts falling due within one year 21 11.176.174) I?,7741 Net current assets I.673 701.463 Total net assets 1,668.4102 2,265.202 Charity funds Restricted funds 22 305.517 460,230 Unrestricted funds Oeyehaied fvnds Genefal funds 22 1.177.756 85.129 1,301,8(XJ 503.172 22 Total unrestri£ted funds 22 lJ62.885 1,804,972 Tot•1 funds 1,668,402 2,265,202 Paee IB
YORK cmzEN5' THfATrE TRvsf UMITED CHARITY STATEMENT OF FINANCIAL POSITION ICONTINUEDI ASA T31 MARCH 2023 The tharity'5 net movement in fund5 for the yearwas a deficit of £596.8Q)12022= surplus of £117.4661. The Trustees acknowled8e their respon5ibilitie5 for ¥Mlh the requirements of the Aci with reweci to aCCOUnts'ng records and preparatiLM of finanoal statements. The finanaal staternerfs have been prepared in accordance with the pro¥isions applicable to enlities subj.ett to the small companie5 regime. The financial Statements were apwoved and auihorised for issut by rhe Trustees and signed on their behalf bv.. 20.1023 11..44GMn 'CathwneCldland [De(20.l3 1151 GM M Green CBE Trustee Cath Clelland MBE FCMA Trustee Date: 20 DecÈynber 2023 The notes pa¢e5 21 to 49 f¢ym part of these financial statemffits. Pa8e 19
YORK CITIZENS. THEATRE TRUST UMITÉO CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED31 MARCH 2033 Z023 2022 Ilote Cash flows from operatlng actl¥ltles Net cash provided by operating actiwties 24 11018521 711.338 Cash Ilows from investing artivilies Bank interest 3,012 1162,0201 1.326 1156.6521 1500.0) Purthase of tangible fixed assets Purchase of investmenis 17 Nef cash used in Investing artbvikne5 1159.0081 1655.3261 Change in $h and cash equivalents in theyear 1261.8601 56.012 Cash and cash equivalents ai the be8innin8 of ihe year 1,111,681 1,055.669 Cash a1 cash equivalents at the errfl ofthe year 25 849.821 1,111.681 Pa8e 20
YORK cmzENS' THEATRE TRUST UMITEO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accountln8 polktes 1.1 8osts oApfepGrrflon olfino*Klrylstgttments The financtal statements he been preparerj in accordance with the Charities SORP IFRS 1021- Accounting and ReportinR 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 IFRS ID21 lelfective i January 20191. the Fjnantièl Reportin8 Standard applicable in the UX antl Republic of Ireland IFRS 10213nd ihe Companies Act 2tM)6. Yofk Citizens. Theatre Trust Limited rneets the definits.on of a public benefit entity under FRS 102. A55ets and Iièbililies are initially reco8rtised at hisiori¢al tost or tyansactTron value unless oihenwise stated in the relevanr accountin8 policy. The consolidated staiernent of financial aciNities ISOFAI and con501idated balance sheet consolidate the financial statements of the charity and it5 Subsidiary undertakin8. The result5 of the subsidiary are consolidated on a line by line basis. The charity has taken advaniage of the exemption allowed under section 408 of the Companie5 Act 2006 and has not presented it5 own staternent of financial attiNrytie5 in ihe5e financial statements_ 1.2 Golng wicern For the year ended 31 March 2023 the Group has sustained a 10s5 of £47?.90S and reduced it5 Geneial Fund to £234.957. As noted In the Trusiees. Aeport. the Group has not experiented what rnight be considered normal conditions since the Cowd-19 pandemit. Theatre attendances and Income lor the period have not inueased back to 2019 levels while inflation and rhe Ukraine conflict have increased costs. Curreni forecasts for the year ended 31 March 2024 show the Group will report a deficit of £420,(KKI. At the balarnce sheet date of 31 March 2024. cash reserve5 are expected to be £650.LMX) twt after reserve transfers the Genefal Fund would have no free reserves. Wrthout interventKJn the Group is forecasting a similar delicit for the year ended 31 March 2025. The Trusiees re¢Dgnise that there is much uncertainty. and ihe economic climate continue5 to be challenging. Constant work is ongoing to seek new operatin8 income opportunilie5 and gther funding options, bui ihese take time. To help improve the financial position in the short-iemi the Trustees h3ve identified the following artions.. Increasing iheatre ticket prices. Reduce losses on own productions. Invest in fundratsin8 actNities. Consolidate management team. Explore fundin8 from signilicant regional tenefactors. The Trusiees reco8nise that significant uncertainty ets in resped of the anticipated funding souyces and their timing. The cash flow challenge will be at the end of ihe wirtier period in earty 2025, when the theatre goes black. With the above adions. the Group wtyjld be breakeven for the year ended 31 March 2025. Page 21
YORK CITIZEN5' THEATRE TRUST UMrrEO NOTESTO THE FINANCIALSTATEMENrs FOR THE YEAR ENDED 31 MARCH2023 Accounting pcAiae5 Icontinuedl 1.2 Golng conrem Icontinue4J Whilst the Trustees reco8nise rhe challenges and uncertainties that the theatre faces. they believe that with continued suppori from Arts Council Eneland and with the actions above. and continued scrutiny by the Tru5teE Board. the Group and pareni charitable company will continue as a Roing concern. The Trustees therefore continue to adopt ihe gne ¢teO basis of preparatiuh for the finanoal steMents. 1.3 CMIp4my Stutus The tharity is a company limited by shares. inc¢xporated in England and Wales. The company's registered office is as stated in the Trustees, Report. The liability of eath shareholder on winding up is limited to £1 for eath share held_ 1.4 Fund artounting General funds are unresificred funds which are available for use at the discretion of the Trustee5 in furtherance of the 8eneral objeaives of rhe Groyp and which have nor been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside bythe Trustees for rtIcUla1 purposes. The airn and use of each designated lund 15 Set out in the notes to the financial statements. Restricted fvnd5 are funds whith are to be used in actordan¢e wilh specific restrittions irnposed by donors or which have been raised by the Group for pèrticular purposes. The costs of raising and administering such funds are char8ed against the specificfund. The aim and Use of eath reStrted fund is set out in the notes io the financial statemenls. IJ Income AJI income is reco8ni5ed once the charity has entitlernent to the income, it is probable that the income will be received and the amount of income receivable can be rnEasured reliablv. Charitable tvadin8 aclivitie5 Income from theatre admission fee5 net ol Box Office commission 15 included in tharitable artivity income in the period in whith the rele¥ant show takes F4ace. Commeroa1 iradin8 ac11tieS Income from commertial aetr¥iies is iv*luded in the pefiod in which the 8roup is entitled to receipt within raisin8 funds. Donations and 8rant5 Income from donations and grants. includire capital grants. are induded in income when the are receivable. excepr as lollows= When donors specify that donaiions and eranis are wven to the tharity Must be used in future a¢countin8 periods. the income is deferred uniil those periods. When donors impose conditions which ha¥2 to be fulfilled before the charify becomes entitled to use such incorne. the income is deferred and not induded in income until the prtyondifions for use have been Pagè 22
YORK cmiENS' ThEATRETRUSTiIMITEO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31 MARCH 2023 Accounting polioes Irontlnuedl 1.5 Inr(Mne {continuedl Grant5 received in relaiion w the governmeni Corona¥irus Job Retention Scheme (Furlough) have been reco8nised within other Incoming resources. Thegrant 15 accounted for on the accruals basis once the related payroll retum has been subrnitled. When donors Specify that donations and erants. indud1r capital grants, are for particular restricted purposes, which éo not amount to kvfrcondili¢s regarding entitlemenl. this income is induded within restricted income when receivable. Interesi receivable Interest is included when receivable by the charity. Other intome Is reco2ni5ed in the period in which li is reCeiVae and to the extent the 8ood5 have been provided or on completion of the 5eryice_ 1.6 Expenditu Expenditure is recoeni5ed once there is a le8al or construttbve obligation to transfer economic benefit to a third party, it is piobable that a transfer of economic benefits will be required in sertlernent and th? amount of the obligation can be measured reliably_ Expenditure is classified by activity. Certain expenditure is drrettlyatiributable to specific activilies and has been included in the relevant cost c3tegorie5. Support tosts afe those costs incurred direttty in support of expenditure on the objects of the charity and Include central functiorts that have been allated to activity cost categones ¢)n a basis cOnStent with the use of resources. Governance costs are those inCued in connection with ¢ompliance with Constitutional and statutory requirements. Expenditure on stage properties. scenery and effetts 15 not capitali5ed lunle5S the propertie5. scenery and effects can be used in future productions). as it is considered that such c95ts rnore truly reflect difecr production costs and are. therefore. written off in the financial year in which the relevant produdicffi opens. Expenditure on rai5in8 funds includes all expendituie incurred bv the Group tg raise funds foc its charitable purposes and indudes costs of all fvndraising artmlies events an(1 non-charitable tradin8. E¥penditure on charitable activilies i5"incurred on directly undertaking the acti¥itieswhith fvrther the Group's ot>jeclives. as well as any assuoaied 5UPPOIt Costs. All expenditure is inclusive of irreco¥era1e VAT. Page 23
YORK OTIZÉNS, THÉATrE TrUST UMITED NOTESTO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED31 MARCH 2023 Accountlllg polides (Coned L7 Basi5 olwnsolidotion The financial statements consolidate the accounts of York Olizens'Theaire Trust limiied and all of its subsidiary underiakin8s I'subsidiaries'l. The tharity has taken ad¥anta8e of the exemoion contained within seclion 408 of the Companies Art 2rJ)6 not to present its own Incorne and expenditu account. The incorne and expenditure actwnt for thè year dealt with tn the accounts of the charity was1£596,800112022.. £117,466). 1.8 Tvngiblefixedossets deprttioti Tangible lixed assets costing £l.LMXJ or rnore ave tapitalised and recogni5ed when futuie economic benefits are probatAe and thÈ tost or ¥aluÈ of the assÈt can be measured reliably. Tangible fixed asseis are initially reco8nised at cost. After reco8nilion. under the cost model, taneible fixed a5set$ are measured at cost less accumulaietl depreciation and any accurnulated impaitrnent losses. All costs incurred to brin8 a tèngible fixed assei into ils inlended workin8 condition should be Included in ihe measurement OF cost. Depreciation is charged so as to allate the c05t of iabwWe fixed assets less their resKlual value over their estirnated useful lives.. Deweciath)n is proded on the following bases.. Signal 8ox Thealre Leasehold improvemenls Il% straight li Over expected life of the 355et. varying from 6%- 43% straight line cer experted life of the asset. varwnE from lO%- 50% straight line straight line Plant and equiprnenl Motor vehicles 1.9 Investments Investment5 in subsidiaries are valued at C05t prowision for impairmenL i.io Stocks Stocks arevalued at the lower of cost and net alisable value after makin8 due allowance for obsolete and slow- moving stocks. 1.11 Debiors Trade and other debtors are cognised at the seitlernent amouni after any trade discount offered. Prepayments re ¥alud at the amount prepaid net of èny Ifade d15counts due. Page 24
YORK cmzENS' THEATRE TRUSTUMifED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31 MARCH2023 Accounting poli¢ies Ic¢1thed 1.12 Cvsh otbonk vnd in hrf Cash at bank and in hand includes cash and shcrt-term hhlY liquid investmEnts with a short maturity from the date ol acqui51tion or opening of the deposit orsimilar acttyjnl. 1.13 Creéitors gndpmvisiMS Creditor5 are recognised when there is an obligation at the balance sheet date 35 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 be estimated reliably. Cr2ditor5 are recogni5ed at Ihe arnount that Ihe charity antiiipètes it will payto settlè the debt or the amount it has recerved as advanced payments for the goods or servfces li must pro¥ide. Provisions are measured ar the best estimaie of the amounts required to settle ihe ob1iRation. Where the effed of the time value of money is material. the provision is based on the presenl value of ihose amounts. discounted at the pre-tax discount raie that renerts the risks specific to the liability. The unwinding of the dwount is regnIsed in rhe consolidated staiement of finanoal activiries as a finance cost. 1.14 Finonclallnstruments The Group only has finanoal as5et5 and finanoal Iièbilities of a kind that qualify as basic financial insiruments. Basic financial instruments are initially reco8ni5ed at transaction value and subseouently measured ai their setilement value with the exception gl bank loans whith are Subsequent rneasuTed at arnortised cosr using the effective interest methud. 1.15 Penslons The Group operates a defined contribution pension stheme and the pension charge represents the arnounts payatye by the Group to the fund in respect of the year. 1.16 Employee benefv The costs of 5hort-tenn emplDyee benefits are recognised as a liality and an expense. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termrnation benefits are recognr5ed immediately as èn expense when the company is demonstrèbly committed to terminate the employment of an employee or to proTrMde termination benefit5. Page 25
YORK CITIZENS. THEATMETRUST UMrrED NOTES TO THE FINANCIALSTATEMENTS FOR fHE YEAR ENDED 31 MARCH 2023 itical accwnting estimate53nd weas of judgment Estimates and Judgments are continualty evalated and are based on historical experience and other factors. includin8 expectations of future events thai are believed to be reasonable uThJer ifve orcurnsiances. Cfilical accouniing estimates and assumpiions- The tharity makes estimaies and assumptions concerning the future. The resulting accounting estirnates and assumptions will, by definition. seldom equal the related actual Tesulls. The estimates and assumptions that have significant risk of causin8 a material adju5trnent to the wrying amounts ol a55ets and lia.111Ve$ within rhe next financial year are di5CU55ed below. lil Support cost5 Staffing and administration support Costs are allocaied across the actiwties of the theatre. Support cost5 are allocated on a basis consistent with the use of resources. Page 26
YORK CITIZÉNS, ThEATAETRUST UMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31 MARCH2023 Incorne fr¢Jm donatioand le8aae5 Umestrirted Restrirted fund5 funds XJ23 2023 Total ful$ 2023 Total funds 2022 Arts Council En8land. Yorkshirt Individual Givine and the 1774 aub Audrey and Duncan Savage Fund Creative EnBa8ement Richard111 Commission 598.059 613(Kl 598.059 61.300 io.ty)o 598.059 68.503 lo. 5,485 7,000 3,82S 35,000 13,210 2,333 Mr Connections 7.477 35.otxi 7,477 35.000 12.073 13,440 13.713 Palricia and Donald Shepherd Charitable Trust Community 8i¥ing donation5 Corporate 8ivin8 Website development fund Grants 11.073 13.713 Culture Recovery Fund Grant Other donaiions 619,241 5,980 26.991 17.027 44.0 711,863 106.705 818,568 1,358,636 Total 2022 684.701 673.93S 1.358,636 Page 27
YORK CITIZE145' THEATRE TRUST UMITED NOTES TO THE FINANCIAL STATEMENTS FOR fHE YEAR ENDED31 MARCH2023 Income from charltablÈ a¢U¥ltles Unrestrirted lunds 2023 Total fvnds 2023 Total fund5 2022 Admi55i0n fee5 It#Jx office receiptsl Co-production income Education and wtreach 2.260.344 112.1108 123.088 2.260344 IiU108 123A188 1.270.144 119.248 105,994 2.495,440 295.440 1,495,386 Total 2022 1,49S.386 1.495.386 In¢ome Irom othw iradinK adivttits Income Irom fvndr4lsins e¥eAts UnrestT•cled funds 2023 Total fvnds 2023 Toial funds 2022 Props. eledrical hire and merchandising Lettings, room hire and corF4Jrate enlertainment Costurne hire and making 3A123 10,311 35.447 580 10311 35A47 1,197 Ig,012 48,781 48.781 20,789 Totsl 2022 20.789 20,789 Page 28
YORK CMZENS, THEATRE TRUST UMrrED NOTES TO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 MARCH2023 Incorne from othertrading artl¥ltles Icontinuedl Incoffle from non tharlfable IradI arttvltles Unresirfrted funds 2023 Total funds 2D23 Total funds 2022 Other income 11.130) I.045 179.gm 71,346 11.1301 190,04S 179.904 8ar sales 110.406 120.472 35.685 18,218 112,940 Caiefing sales Ice cream and sweet sales 71346 33.388 178,465 Merchandise and pro8ramme sales Box office services 178,465 65Z.018 65213 397,721 Total 2022 397.721 397,721 Total income from of fundraising and other tharitable trading actiwties has been summarised in note 6. Summary of fundraiyng and d4ritaWe •rtNil uTrrerirted funds 2023 T¢>tal funds 2023 Total funds 2022 Fundraising events Charitable tradinB activities 48.781 652.Q18 48.781 65118 20.789 397.721 7rAI.799 700.799 418.510 Page 29
YORK CITIZENS. THEATRE TRUST UMrrEO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH2023 Investment income Unrt5twkled fund5 2023 Tvtal funds 2023 Total funds 2022 Bank iniefest j.oiz 3,012 1.326 Total 2022 1,326 1.326 Other Incorne Unrestrlrted RestWKled fvrrfls fund5 2a23 2023 Total funds 2023 Total funds 2022 Sundry income Gift aid income 55.769 55,769 60,59) 21.729 21,729 Coronavirus job retention scheme income Coronavirus business support grant Holiday Activity and Food Programrne IZ4.562 71.625 S.854 2.230 77.498 2.230 79,728 262.631 Total 2022 222.652 39,979 262.631 Page 30
YORK cmi£NS' THEAfRETftUST UMifED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH2023 ExpendItU on ffaislng fvnds Fundrnislng trading expeftses Unrestrfrted Ilestridtd fvhds fund5 2023 2023 Total funds 20 Total funds 2022 Marketing and fundraising Trading activities Cosiume hire and making Fundraising tradin£ expenses- w38es costs Fundraising trading expenses- Nl Fundraising trading expenses- pension cosrs 193.677 4.7S3 198A30 161.898 25.6 25.600 5.207 148.337 11.259 4x177 38.719 5.095 116,227 9.692 2.810 120.733 11,259 4,077 27 360553 32.357 391910 334,441 Total 2022 269.328 65.113 334.441 Page 31
YORK CITIZENS, THEATRE TRUST UMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH2023 Expenditure on raising lunds Icontlnued) Othertrcdlng expe Unrestrl¢ted fvnds 2023 Yotal funds 1023 Total fund5 2022 Bar purchase5 Catering pur£ha Events. hire and performance cost of sales Ice cream and sweets purthases 63341 76.385 874 63,341 76383 874 37,597 49,555 846 21,806 21,806 9,712 14.021 50.799 42.347 40.151 168,3ll Merchandise and programrne purchases Box office service Costs recharged Box offite service costs of sales 29,461 64.516 45.172 3432S 160,9S7 29,461 64.516 45,172 34,325 160,957 Administration exPee$ Administration staff costs 496A35 496.835 413.339 Total 2022 413.339 413,339 Tot31 costs of raising funds have been summari5ed tn nole 10. io. Summary ol raSsln8 funds UnrestrTrcled funds 2023 Re5trided tuTrds 2023 Total fund5 2023 Total funds 2022 Fundraising rrading expenses Orher tradin8 expenses 360.553 32.357 392.910 334,441 496 4%.835 413,339 857,388 32.357 889.745 747.?80 Total 2022 682.667 65.113 747,780 Page 32
YORK CITIZENS, THEATRETRUST UMITÉD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31 MARCH2023 Spllt between direcl and support costs Direct <ost of artNltles Support Costs 2023 2023 Total lunds 1023 Total funds 2022 Cost of generating lunds Fundrai8 tradine cosis Subsidizry tradin8 costs 294.15S 27.633 49603$ 41,681 29.441 335.836 57.074 496.835 295.722 38,719 413,339 818.62J 71.122 889.745 747,780 Total 2022 662.739 85.041 747.780 ii. Analysis of eNpendrf¢u on charitable adi¥it*s Summ¢Try byfvnd type Unrestricted fvnds 20 Restrided furM15 2023 Total 2023 Total 2022 Admissi( fees (box office receipt51 Theatre tax rdief 3.659A% 1267.4151 191,487 3.945 3,663.841 1267.4151 158.727 20.588 2.624.497 1138,3571 206,317 18,103 Education and outreach 67240 Governance 20y8 3.604,556 ?i.Iss 3.675,741 2,710,560 Total 2022 2.310.283 4LN).277 2.710,560 Paee 33
YORK CITIZEN5' THEATRE TRUST UMITEO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH2023 12. Analysis of e¥penditure by •rti¥ilies ArtNlties undertaken directly Support ¢osts 2023 2023 Total funds 2022 lund5 1023 Operation of iheaire Theatre tax relief 2.765.085 1267,4151 898,756 3,663,841 1267,4151 258,727 Xl,588 2,624.497 1138,3571 206,317 18.103 Education and outreach 58.187 Governan 20588 2,718,798 956,943 3,675.741 2.710.560 T31 2022 1.911,47S 799.085 2,710.560 Pa8e 34
YORK aTrzENS' ThEATRE TRUST UMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31 MARCH 2023 13. Alboration of 5UPPOrt COSts The trust allocates its wpport costs as shown in the table below. The support eosts are allocated on a basis consistent with the use of resources. Allocated to Optration of tost of Taisini Theatre funds 2023 2023 Totsl funds 2023 Total funds 2022 Administration salarie5 S.046 111.704 440.145 24.069 30.030 2.597 195.076 114,301 440.145 25,364 188.6 97,S35 320.899 26,657 Other staff costs Premises costs Computer. stationery and postaee costs Travelling 2nd 5ub515tence costs Legal and professional costs Other sundry expenses liretoveratAe VAT 405 462 3,iWJO 34,564 19551 1,317 29,749 25.476 27,411 7.IS3 942 Depreiiètion. Ioss on di5P05al and impairment of fixetj assets 157A21 28.643 193.398 rota12023 956,943 71.122 1,028,065 884,126 Tutal 2022 799.08S 85.041 884.126 14. Net in¢omellexpend•turel Thls is stated after th31gine'. 2023 2022 DÈpre£iation of tareible fixe(l assets: - owned by the charItae group AuditOl'5 rernuneration- audit 186A164 193.398 17.17S U25 13,125 2.575 Auditor's remuneration- other servtces Page 35
YORK CITIZE145' THEATRETRUST UMITED NOTES TOTHE FINANCIAL STATEMENTS FOA THE YEAR ENDED 31 MARCH2023 15. Staff c05t5 Gruup 2023 Group 2022 Charity 2023 Charitv 2022 Wages and salaries Social security costs Contribution io defined contribjtion pen&on sthernes I20327 79578 1,074.466 70.901 1.203,827 79,578 1,074,466 70,901 24A123 21.784 24.023 21.784 1.307.428 1,167,151 1.307,42B 1,167.151 The average nurnber of persons employed by the tharity during the yearwas a5 follows: Group 2023 No. Group 2022 No. Average montNy headtount 147 ios The average headtount expressed as full-lime eouivalents was.. Group 2023 Group 2022 Average full-time equivalent 59 No ernployee rec•ved remuneration amountin8 10 more ihan £60.OLKI in eitheryear. The average numbef of key marta8emeni personnel in ihe year was for I role12022.. 11 and total key managemènt pefsonnel remuneration including employers Nl and pension was £75.27812022= E68.B121. L6. Trustees. remuneration and expense5 DUrig the year, no Trusttes reteived any remufteratl( or other benefits12022- ENILI. Ouriwd the year ended 31 Marth 2023. noTrustee expenses have been incurred12022- £NILI. Page 36
YORK CITIZENS. THEATRETRUSTUMITEO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31 MARCH2023 17. Tan8lble fixed ass$ Group and Charlty Signal Box Leasehold Theatre lrnprovements Plant and e¢uipmenl Motor ¥ehicles T¢tsl At l April 2022 Additions 954 1.446.724 157282 LIOI.517 2.556.265 162.020 At 31 March 2023 1.604,W6 1.106.325 7.000 Z.718.285 Depreciotion At l April 2022 Charge for the year 711205 770.197 100 1,490J05 51 94383 91.630 6J164 At 31 M3rch 2023 806588 86127 700 1.676.369 N¢t10k value Al 31 March 2023 797.418 244.498 1.041.916 Al 31 March 2022 si 734.519 331.3 1.065.960 Page 37
YORK CITIZENS, THEATRE TRUST LIMrrED NOTES TOTHE FINANCIALSTATEMENTS FOR THE YEAR ENDE031 MARCH2023 Flxed asset bn¥esimenlS Investments In subsidiary ¢omp•nies sted Investments Totsl Chgrity C05tor lotIOn At l April 2022 Re¥aluations 497.776 19.9661 497.779 19.9661 At 31 March 2023 487JlO 487AIJ Netbook vokne At 31 March 2023 487,810 487.815 At 31 Mafth 2022 497,776 497,779 The historical cost of the investments is ES.0012022- E51)J.(XJOI Princip315ubsidiaries The followin8 were subsithary urwJenakin85 of the tharity.. Names Companv n¥mber Holdlng Induded In con5011datlon York Theatre Royal Enterprises Mited York Theatre Productions Limiied 029939 09308382 IOOX Yes lo Yes The financial results of the subsidiaries for the yearwtre= Names Income ExnditUTe Profltlllossl for the ytar Net assets York Theatre Aoyal Enterprises ts'mited York Theatre Production5 Umited L2111J93 717J51 I2.06s gM066 I498 1270,7151 180.763 Page 38
YORK crnzENS' TrIEATRE TRUST iIMITÉD NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDE03J MARCH2023 Stocks Gr*)up 2023 Group 2022 Finished goods and good5 for resale 10,161 9,17S DeIx$ Group 2023 Group 2022 Charlty 2023 Charitv 2022 Trade debtors 39384 81.131 39.384 438336 81,131 249.177 Arnounts owed bygroup vndertaking5 Other debiors 417,296 147,916 136.689 203.686 9A92 147.916 Pfepayments and actrued income 203.686 604.596 421.506 635.528 533,994 21. Credltor5: Am¢wnts falliw thie ¥rtl¢hin one year Group 2013 Group 2022 Charily 2023 Charitv YJ22 Trade creditors 127x178 121.312 127.078 109.123 Other taxalion and social secunty Other c¥editor5 19,605 156,565 872,916 19.611 68.111 6(NJ.929 19.605 156.565 872.926 19.611 68.111 6(N).929 Accruals and deferred income 1.176.174 809.963 1,176.174 797,774 Page 39
YORK CITIZENS. THEATRETRUST UMITED NOTES TO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Group 2023 Group 2022 Charity 2023 Charirv 2022 Deferred income at l April 2022 Resource5 deferred during Ihe year Amounts released from prewou5 peric*Js 181,969 390.455 552.015 1390.4SS) 181.969 390.455 1181,9691 55Z.015 390,455 1390.4551 1390.4551 343.529 181,969 S52,015 390,45S Oeferred income comprises admission fees received in advance and grants which ihe donor has specified must be used in future accounting periods. Pa8e 40
YORK CITIZENS, THEATrE TRUST LIMITED NOTES TO THE FINANCIALSTATEMENTS FOR THE YEAR ENOEO 31 MARCH2023 22. Stèiemeni ol funds Staiement ol fund5- cwrent year 831ance at I April 2022 Transfers Inlout Gaiftsl balarKe at 31 (Lossesl Mèrch 2023 Inrorne Éxpenditure Unrestrkted fvnds {jgotedfvnds Desienated Fixed Asset Fund L065.960 162.020 1,041.916 Desi£nated Fund- Community Produrtions 221 221.664 Desi8nated Fund- Creative Dtrecior 14.176 14.176 1.301 (186,064) 162.020 1,277,7S6 Generolfvj General funds 503.131 30.933 41 2.786,719 I.2015 13.22J,8161 11.052.064J 29.019 1309331 199661 85,087 I4929 41 Enteiprises Share tapital 534.105 3.988.612 14.275J801 11.9141 19.9661 234.957 Totol Unrestrirted fvnds I35.905 3.988.612 14N61.9441 160.106 19.9661 1.512.713 Page 41
YORK CITIZENS, THEATRETRUST UMITED NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 22, Statement of funds {tonlinuedl RestrKtedfvnds .City ol York Capital Fund Patricia & Oonald Shepherd Charitable Trust 399.454 1154,4381 245.016 IS.872 11.427 3S.(#)O 9.632 135.1701 13,7541 15,702 17,305 Access All Areas Palio Proiert NTConnections 15.6681 325 7.477 19,4951 1.807 Development Support Fund ICOWD 191 Holiday Activity and Food Programme 37 Plays Rithard111 Commission 11891 13.713 127.6041 2JKII 2.230 {1.0551 110,1221 3.176 3.878 3.711 IA32 Pay It Forward Julius Caesar 675 lJ.9451 11.2501 810 3.750 Theatre Trust- VR Grant 4.753 14.7531 Audtey and Duncan Sava8e Furtd 10.000 10.0( Olhef resiricted funds 145151 Z.241 108.935 1103.S421 1160.1061 305.S17 Tot41oAJunds 1296,135 4.097.547 14.565.486) 19,9661 1,818.230 Page 42
YORK CITIZENS. THEATrE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 12. Statement ol fvnd5 (continued) Staiemeni of fvnds. prlor ye¥ Balance at 31 March 2022 Balance ai l AprLI 2021 Translers inlout Gains/ IL¢ssesl Income Expenditure UnrestrKted fvnds ited1v&S Designated Fixed Assei Fund 1,102,706 1193,3971 IS6.6SI 1.065.960 Designated Fund- Cornmunity Productions 221,664 221,664 Designated Fund- Creative Llifector 14.176 14,176 1.102,706 1193,3971 392.491 1.301.800 Geftemlfvnds General funds 470.3 2.370.347 452,228 12.378.258) 1421.2951 42.9C6 172,4741 12.2241 503,131 Enterprises Share capital 72.474 41 30,933 41 542.875 2,822.575 12.799,5531 129,5681 12.2241 534,105 rotal Unrestrkted fvnds 1.645.$81 2.822.S75 12.992.950) 362.923 12.2241 1,835,905 Pa8e 43
YORK CITIZENS. THEATRE TRU5TUMITED NOTES TO THE FINANCIAL STATEMENT5 FOR THE YEAR ENDED 31 MARCH2023 21. Slatement of funds Icontinyedl Restrktedlunds ty of York Capital Fund Patricia & Donald Shepherd Charitable Trust 531,002 1131,S481 399,454 1.949 9.480 35.LK 1,314 121.0771 12,8461 13,8481 15,872 11,427 5,668 3,825 Access All Area5 3.479 Patio Project NT Connections 9.516 325 Development Support Fund (COV10 191 Holiday Actiwty and Food Programme 37 Plays -chard 111 Commission 13.891 13,891 S.854 13.8531 2.001 1.000 13.2891 11.09SI 3,711 Pay It Forward Art5 Council Culture Recovery Fund The Berwick Kale Foundation 1.770 675 1661 619.241 I387.8() 1231.3751 3.S87 13,S871 The Platform Project Thealre Makin8 3.507 1281 13.4791 1.s) I2.SCl Kickstarter Programme other restricted funds 34,125 134.1251 1.763 2.285 11.3421 2.706 574.629 713.914 1465.39)) 1362,9231 460,230 TOtOIfvftdS 2,220,210 3,536,489 13.458,3401 12,2241 2.29S,135 Page 44
YORK OTIZENS. THEATRE TRUST iIMITÉD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH2023 Restrirted funds City of York Capital fund- a donation of fundingto support the Theatre wilh ils ongoing capital costs and capital redeveloprnent projects. The transfer relates to the transfer of fixed assets fiorn restricted to unrestricted funds, as the assets are held lor general purposes. Patricia and Donald Shepherd Charitable Trust Fund- lundin8 weNed to support the provision of an Outreach Director to work with disa(fvantaged groups acr05S the City. Access ASI Areas- funding has been made from the Ed De NunLiO Claritable Tru to support the kce5s All Areas rjrarna 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 usualty access out mainslrearn youth Theatre. Patio Project- these funds have been Benerated through a variety of appea15 and events. The funds will we be usÈd for thÈ redevelopment of ihe Palio area. NT Connections- these fvnds were received frcvn the National Theatre 10 5UPPOrt the'Conne(tion5 Projeci. at York Theatre Royal. Oevelopment Support fund ICOVIO-1g1 This donation from a private individual was received to support the ongoing cost ol Fundraising and Marketing during the COVID-19 pandemic. Holiday Aciivify and Food Prograrnme- fvnding received from City of York Counol to support holiday activities for disadvanraeed children. 37 Plays- funding from tfre RSC to support a nationvthlltle playwriting projett. working with 12 theaiye partners across the counrry with the aim to get the natitsn writing. Richard 111 Comrni59on- fun¢lingfrom the Rithard 111 Society CLG to supwrt the ueation and commisslon ol a new play about Richard 111. Pay it Forward- this fund relaies to indiwidual donations from customers for the provision of free tickets IL disadvantaged groups to see a number of produciions auoss iheyear. Julius Caesar- Funding Supporti the formation of a tommunrty thorus to perfocm in the RSC prt#Yuction wofking alongside 3 l¢xal musical director. Theatre Trust- VP Grant- Funding from Theatre'5 Trust Small Grants Pvogramrneto capture immersive recording5 of live performances and deliver them using VR technology. Audrey and Ouncan Savage Fund- To suppjrt small capital projects. Arts Council Culture Rec(5¥ery Fund- Thi5 funding reflects the grant received and due for the round I bid for Cultural Recovery Fundin8. Page 45
YORK OTIZENS. THEATRETRUST UMrrÉD NOTES TO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Kickstarter Programme- a eovernmerf funded initiative lo create work experience opportunities fur 16 to 24 year olds on Universal Credit who are at risk ol long terrn unemployrnent. The Theatre worked in pèrtnErship with the Muslim Council ol Great Britain to provide six placements during 2021122. Other restricted fund5 include the Name a Seat fund. YTR Bookclub. Theatre for Wellbeing Programme5. CopperBate Woman fund. Stfeet Lile Project and the Terry Bovhds Donarion. Tiwsfers Tiansfers in the year represent the release of caprlal Brant funding and the transferlrelease tsf funiss previouslv designated by the trustees. Analysis ot net assets bet¥Yeen lunds Anal$ of net assets between funds. tufftnt year Unre5trkted Restrfrted funds funds 2023 2023 T*)tsl funds 2023 Tanble fixed assets Fixed asset investments L041.916 487.810 I.IS9.161 11.176.174) 1.1141.916 487010 1.464.678 11.176.174) Current asset5 305.517 Creditors due vrrithin one year Totql 1.512,713 305.517 1.818.230 Analysis of net assets between fvnds- prlor year Unrestricted funds 2022 Restricted funds 2022 Toial funds 2022 Tan8iblE fixed assets Fixed assei investments 1.065.960 1,065,960 497,776 1.542,362 1809.9631 497.776 1.082.132 1809.9631 Current assets 460.230 Creditors due wthin one year Totol 1.83S,90S 460.230 2,296,135 Page 46
YORK cmzENS' THEATRETRUST UMrrED NOTESTOTHE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 MARCH2023 Re¢oncili*ion of net mo¥ement in fvnds to net cash Ilow ¢)peratikVa adr¥itie5 Group 2023 Group 2022 Net incomelexpenditure for the year las per Statement of Financial Activities) 1477,9JS1 75.925 Adjustmentslor Oepreciarion charges Losses CM) inyesiments 186,064 193.398 2,224 11,3261 15.8421 1137.3411 584.3( 9,966 13,0121 11,0861 1183.0901 366.111 8ank interest Increase in stocks Increase in debtors Increase in creditors Net Cosh provlded ty operoting1I¥itles 1102.8521 711,338 25. Analys15 of ush and cash equNalents Group 2023 Group 2022 Cash in hand 849,821 1,111.681 Totolcosh trndtash equiwolents 849,821 1,111,681 26. Analysis of Chae$ in net debt At l Aprfl zz At 31 fvlarEh 2023 Cash flows Cash in hand 1.111.681 1261,86Ql a4921 1.111.681 1261.8601 849A21 Pa8e 47
YORK OTIZENS, THEATRE TRVSTUMITÉD NOT£STO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 MARCH2023 27. Capltal commltments Group 2023 Group 2022 Charity 2023 Charitv 2022 Contrortedlorbut nDtwovi&din t•SefingriI stotements Acqu15ityon of tanBible fixed aets 152,913 152.913 Pension ¢ommitments The group operaies a defined contribution pensi stheme. The assets of the scheme are held seperately from those of the group in an independently adminisiered fund. The pension cost charge represents contributions payable by the group to the fund and amounted 10 £24.02312022.. £21.7841. E8.31712022= £7.0311 was payoble to the fund at the Balante Sheet dale and are included in creditor5. Operatln8 lease ¢omnknnents At 31 Marth 2023 the Group and the tharity had commrtments to make future mintmurn lease payments under non-nCelIable operating leases as follow5.. Gruup 2023 Group 2022 Noi later than I year Latef Ehan I year atxl not later than 5 years Later than 5 years 29.331 109.0(K 29,331 111.081 324.729 297.479 435.81Q 465.141 Of the commitments atThte. £433.72912022.. £460.9791 15 payable lo the York Consewvation Trust in relation to rent. Page 48
YORK cmzENS' THEATRETRUST UMITEO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH2023 RelatEd party tr*sactlons York Theatre Royal Enterwi5es Limited is a wholly owned subsidiary of York Citizen5' Theatre Trust Limired. Some of the trustee5 of the charity are a150 dire(tors of ihe company. At the year end, amounts owed f¥orn York Theatre Royal Enterprises Limited were £30.93312022: £112,489). During the year the charity received income from a management charge of £33.34412022: £32,532>. In addition. the charity allocated Rrant of Énil12022.. £niS1 to the subsidiary. During the year total 8ift aid donation were made from York Theatre Royal Enterprises Limited to the charily tolallinB £30.93312022.. £72.4741. York Theatre ProductlOn5 Limited is a wholly owned subsiithary of York Citizens. Theatre Trusl Lirnited. Some ol the trustees of the charity are also directors ol the company. At the year end, amounts owed from York Theatre Productions mited were £407.40312022.. £136.6881. Ihis amount refierts tax credits due from the subsidiary. rinR the year there was income of É20.40412022.. £19.0751 and expendiiure of É2,39112022.. E8901 relating to Yofk sr John University. an organisation in which Cath Clelland was a trustee of durin8 the year and Dr Avijit Dattz was a Foundation Committee member. A balance of £113 is owed frorn12022.' £5061 the University to the charity as at the year end. DurinR the year thefe was income of £5012022.. £nill and expendrture of £nil12022'. Enill with York Music Hub. a harity in which Ann M Green was also a trustee during the year. Ourin8 the year there was income of £nil12022.. £nill ar)d expenditure of £11,93612022= É2.9281 with Makè It York. a chirity in which Will 2huang was also a trustee during ihe year. During the year there was income of £82 12022." £nill and expenditure of £755 12022-. £2.1981 with York BIO limited, a CCpanY in which Will Zhuang was a150 a director during the year. Ourinz the year there wa5 income of £27.23012022: E5,8541 and expenditure of £34412022.. £7791 with City of York Council Lirnited. a comp3ny in which Will Zhuangwa5 also a director during the year. Ouring the year there was income of £150 12022- Enill and expendiiure of enil 12022.. £ntll with RAR Colton Consultin8 Limited, a cornpany in which Craig Colton was also a dirertof during the year. Ouring the year there was income of £9.613 12022-. £nill and expenditure of E49.752 12022.. Enill with Frantic Assembly. a charity in whith Maithew HUnnyIn was a150 a trustee during the year. Ouring the year there was incorne of £nil12022= £nill and expernditure of £40012022.. £nill with University of York. a charity in which Tom Bird. the lormer Chief Execulive. was a trus durinR the year. Ouring the year. expenses were paid to Trustees totalling £32912022.. £nill. There are no other related party transactions to disdose. Page 49