Colchester Mercury Theatre Ltd Company Registration no. 441035 (England and Wales) Charity Registration no. 232387 Trustees Annual Report and Consolidated Financial Statements For the year ended 31 March 2022 Colchester Mercury Theatre Ltd Trustees Report and Consolidated Financial Statements Year ended 31 March 2022 Contents Pagos Trustees Annual Report 1to16 Independent Auditors Report 171020 Statement of Flnancial Activltles 21 Balance Sheet 22 Stalement of Cash Flov 23 Notes to the Financlal Statements 24to34 Colchester Mercury Theatre Ltd Trustees, Report for the Year Ended 31 March 2022 The trustees are pleasèd to present their report with the financlal ststements of the charity for the year ending 31 Marth 2022. The financial statements comply wlth the Charfties Act 2011, the Companies Act 2006, th8 Memorandum and Articles of Association and Accountlng and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing thelr accounls in accordance with the Financial Reporting Stsndard appllcable in the UK and Republlc of Ireland (FRS 102). R•forence and Admlnlstratlon dotslls. Charlty Numhr 232387 Company Numb•r 441035 Regl$tarad & Prfnclpal OfflrA Mercury The8tr8 881keme Gate Colchester Essex C01 1PT Audltorn Moore Kingston Smlth LLP 9 Appold Street London EC2A 2AP Bankor• Barclays Bank PLC 9 Hlgh Street Colchester Essex C01 1DD Colchester Mercury Theatre Ltd Trustees. Report for the Year Ended 31 March 2022 Dlrectors and trustees The directors of the charitable company (the charity) are its trustees for thé purpose of charity and company law and Ihroughout this report are collectively referred to as the trustees. Th8 trustees serving during the year and to signlng of report were as follows: Kathleen Hamilton (Chalr) - resigned 7.12.21 Lyn Barton Simon Fisher- resigned 7.12.21 Robèrt West (Chair from 7.12.21) Patrl¢k Sandford - resigned 7.12.21 Bryan Johnston- resigned 13.5.22 Jennifer Sklngsley Anita Thornberry Samantha Blackwell-He8rd Hassina Khan Matthew Llnley Sean Plumm8r Dominlc Collins - appolnted 7,12.21 Lom8 Fox O'Mahony- appolnted 7.12.21 Mark Hoult-Allen - appointed 7.12.21 Marianne Hahn- appoSnled 7.12.21 Company Secretary Haz81 Skayman Executiv8 Director Steve Mannix Executlve Producer Tracey Childs Structurn, Govornanco and Management Logal status The ch8rlty is a limited company wlth a share capital of 20 £1 ordinary shares. domiciled and incorporated in England and W81es. Gov•rnlng documonl, Colch8Ster Mercury Th68tre Limited is a Company limited by shares and is govemed by its Memorandum of Association as amended by special resolution on 13th sl September 2005 and ils Articles of Association dated 21 August 1947. New Articl8S of Association were adopted on 20th Sèptemb8r 2016. Appolntmont of trustegs As sat out in the Arlic185 of Association adopted by speclal resolution In September 2016 the number of trustees shall not be less than five or more than ftfteen. As sèt out the maximum length of service for any trustee shall be terms of four years, subject to re-election at the end of the first temi. The maximum length of service for the position of Chair is eight years. The election or reelection of ihe Chair and Vice Chair shall be confirmed by the trustees at the annual retirament meeting. Other trustees shall face rewelection after a four-ygar term. Colchester Mercury Theatre Ltd Trust••s' Report for the Year Ended 31 March 2022 Potential new trustees as required are chosen from nominations or extérnal recruitment by a fomial inteNlew and reference process. Trustee inductlon and tralnlng New trustees receive a formal induction pack and undergo a brieflng session to highlight their legal obligations under company and charity law, the contents of the Memorandum and Articles of Association, the commlttee and decision-making process, the cu￿ent business plan and recent financial perforniance of the charity. This process also includes topic and news updates as and when necessary and positive inter8cllon with the Ihealr8's management and staff. Twice a year Board Development S8ssions are held focusing on specific subje¢ts identified by the trusle8s as being of key importance as well as an annual Away Day to agr8e business objectives. Truslees are required and encouraged to attend theatre and community activities. Organlsatlon Thé board of trustees, which currently has 12 members, adminislers the charlty. The board m88ts four Ilmes a year and has a two sub-commlttees structure which covers finance & human resourc88, health & safety, access & diversity, rlsk-management, governance & trustee dev8lopment and capital development of the building and Its facilitie5. The sub-commltlees consisl of appoinled trustees, co-opted individuals and relevant management and meet as required. Regular updates are given al board meetings. The sub-committees produce project or policy action plans as raqulred to asslst the harlty In moving the company forward. The Executive Team consisting of the Ex8CUtive Director and Executive Producer are joint Chlef Executives and are appointed by the trustees lo manage day to day OP8rations and lo implement the strategles laid down by the board. To facilitate effecliva operations and management, the Senlor Management team has delegated authority. wlthin terms of delegation approved by the trus188s, for operational. strategic and programming matters including artistic policy. The Senior Management Team members at 31 March 2022 were.. St8V8 Mannix - Executive Director Tracey Childs- Executive Producer Hazel Skayman- Finance Director Deborah sawYe￿- Deputy Executive Director Carol Rayner- Operations Director Ryan McBryde- Creative Director Abbie Roberts - Development Director The Theatre has 2 wholly owned subsldiaries, Colchester M8rcury Trading Ltd and Colchester Mercury Productions Lld. Each subsidiary is governed by a Board of Directors, which meets 4 times a year, with authority delegated to members of the Theatre's senlor management team to manage thè companies, day to day operations. Colchester Mercury Theatre Ltd Trustees, Report for the Year Ended 31 March 2022 Related partlos See note 21 of the Notes to the Accounts. Pay Pollcy for Sènlor Staff Executive pay at lh8 Theatre aims to.. recruit and retain lalented individuals to lead and further develop a rapidly growing organisation., develop and sustain high perfomiance; recognise individual perfomiance In the preceding y8ar The Board of D1￿CtorS are responsibl8 for the sètting of Executive Pay following an annual review. Pay for senior staff reflects the market for comparable lobs in comparable organlsallons, the level of knowledge, skills and experiencè requlred, and the responsibilitles and accountabilltles associated with each role, the perfornian¢8 of the charlty and the indivldual contribution of each execulive. The pay of senlor staff is revIev￿d annually and is dependent on delivery against indlvldual annual obje¢tlV8s in accordance wlth the Theatre's values. Rlsk management Current signlflcant rlsks Identified by the trustees Include: On*oin9 impacl of the International Pandemic Reductlon or withdrawal of public subsldy Quality of artistic product available D81ay or failur8 to appolnt key staff Change of Trustees andlor Chief Executives Robust and secure management of data Reduction in fundraising income Flnancial management and failure to meet sales targats, In both ticket and ancillary sales, and budget projections All rlsks are continuously monitored by the Senlor Management Team throughout the y8ar using current Information such as rnanagement accounts and comparative sales and perfomiance reports and an organSsational rlsk register. The trustees have continued their strategy of ongoing risk management review throughout the year. This strategy comprises= An annual review of the risks the charty may face. The 8Stablishment of systems and procedures to mitigate those risks idenlified in the review. The implemenlation of procedures designed to minlmise any potenlial impact on the charity should those risks materialise. The completed work continues to identify risks by a ranking system based on likelihood and potential effect. Th8 highest ranklng of such identified risks are reviewed by the Finance and General Purposes subwcommittee for action if required. Required actions will then be raported back to the board for approval. Colchestsr Mercury Theatre Ltd Trustses, Report for the Year Ended 31 March 2022 This is an ongoing process. Objectives and Actlvltles The primary object for which the company is 8Stablished, as shown in our governing documents. is to formulate and prepare sch6mes for and tske all necessary steps for Ihe advancemenl of education and the improvement of publlc laste through the medium of arts, and in particular Ihe arts of drama. dancing, singing and music. Our vision Is of the Mercury as a theatre that touches the lives of all the people of Colchester and Its surrounding area, contributes regionally to the development of new ta18nt and new audiences, and carves oul 8 truly national reputation for the quality of the work thal il makes. These obj8cts are furth8r summarisèd In our misslon slatement: "The Mércury exists to put theatre at thè heart of the cultural life of th8 community It serves and to make work In Colchestèr that reaches audiences and generates cr111￿1 attenllon regionally and nationally." The Joint Chief Execullves Tracey Childs and Steve Mannix lead the artlstlc and business of the organisatlon including the development of the company's business plan, the strategic aims of which are summarised below.. Strategic Alms To bulld a reputatlon for the quality and innovation of our programme. To grow and dlversify our audience b8se for that programme. To explolt the touring and comm8rcial potentl81 of the work w8 make, To create exceptlonal vlsitor experiences. To recruit and retaln the most lalented team of staff and volunte8rs. To diversify Income streams I build financial resilience. Our strategic alms are monitored throughout the year by a variety of methods Includlng: Internal and externally commissloned evaluatlon melhods Audience surveys following each perfomiance seeking fe8dback on both ariistic quality, facillties and customer service Audience focus groups Measurement of audience data, feedback and attendance against reglonal and national Irends Regular Board and staff conferences throughout the year Whllst upholding these core values It remains the rol8 of the board to: Maintaln a policy of Inclusiveness and diversity. Ensure responsible financlal control which 55 prudenl and sustalnable. Support the striving for excellence and hlgh quallty In all In whlch the thèatro Is Involved. Colchester Mercury Theatre Lld Trustees, Report for the Year Ended 31 March 2022 In shaplng our objectlves and plannlng our activities the trustees have considered the Charity Commission's guidance on public benefit, including guidan¢8 on publlc benefit and fee charging. The theatr8 relies on grants and Income from tickets, fees, other Income and secondary trading to cover its operating ¢osts. In setting the level for lickei prices, conGessions and fees. the trLJStees give careful consideration to the accessibillty of the theatre and its community activities to those on low incomes. The theatrè offers a range of concessions over the mix of its activities including over 65, under 26. access and job s8ekers. The company aims to benefit the communlty as a whole. In addition to an extensive annual programme of home productions, co-productions and visiting companles the theatre has a commitment to developing an audience through a¢tivllies in and for the ommunity. We are also committed to young people's and community development through an actlv6 Creative Engagement programme which provldes extensive workshops and projects for sthools, colleges and the wider public. Thè Mercury also provides facilities for a lar9e number of local amateur and community groups. Our extensive annual programm8 covers our own in house produced work, 8 pantomlme and a mlx of co-produced and visiting drama together wlth vlsiting liv8 enterlalnment events across a wlde range of génres. This programme utilises both the main auditorium and studlo faclllties. In additlon, each yèar our objective is to invest In, and engage in, actlvilies and projects that develop our artistlc policy through engaging wlth hard-to-reach audlences and support for new and 8merging artists al the start of their car88r. These 8Cti￿lIeS can be at the theatre or at other locatlon8. (See Achlevements and Perfomance below for activities undertaken lo contrfbute to thes8 alms and objectives). Aehlev•mont¥ and Performanc• The pandemlc continued to have an Impact on our work throughout 2021122. As we started the year, we had remained closed for 12 months for live performances and wilhout any earned income. In Aprfl whilst there was contlnued Govèmment guidelin8s to adhere to there was at least some 'light at the end of the tunnel, as the sector and wider soclety gradually started to re-open. With guldance changlng almost dally. we made plans to Complete and 'soft open, our new theatre at the beginning of June wth our new cafélbar offer and Creative Engagement activities. Perfomisnces commenced in late July with our Mercury Production of Baskerville by Ken Ludwig. To the credit of all our staff and creatlV8S we opened to Ihe public in June with over 5,000 people attending in the first weekend alone. In order to complete our £14.2 million capitsl project, Ihroughoul the pandemic our construction company, Phelans, and their sul>contractors continued to work. It is credit to them all. Againsl all the odds and the myriad of health and safety challenge they remained on slte. The exact opposite to the experience of similar capital projects across Ihe UK. They made the decision that as local residents they ware building our theatre for the benefit of their community and the next generation. We can't thank them enough. Colchester Mercury Th•atra Ltd Trusteos, Report for the Year Ended 31 March 2022 We would particularfy like to thank Colchester Borough Council and Colchester Borough Homes for their continued support of the project. We would not have been able to realise the project alone. Together we were able to continue work on site and retain our programme (both on4ine and in p8rson) for the benefit of local residents. When compared to the majority of our sedor and other similar sizèd regional producing theatres the Mercury has been incredibly lucky. The health and w811-being of our staff and freelance artists and creatlves has been of paramount importance for our Board and Senior Management. A range of measures were put in place and continued throughoul Ihe year to ensure that they were supported, including additional training in mèntal health awareness, stsff socials and regular 'check In's, (online and In per80n) We are ple8sed to report that we wére able to retaln all of our permanent staff with no r8dundancles. In addrtion. we were able to continue a confidential Hardship Fund with small grant8 to support our freelancers and any of our staff and their dependents who wer8 experiencing financial challenges as a result of the pandemlG. We are eternally grateful to Arts Council England, Colchest8r Borough Councll and the Department for Culture Media and Sport for their support of our work through continued revenue funding and Ih8ir emergency grant aid related lo Covld. Finally, we would lik8 to sincerely thank Essex County Counell for thelr renewed rev8nue support. As previously reported, back in 2017118 they cut our revenue funding In favour of their support for our capital project. The nèw admlnistration has ernbra￿d the value of the arts and culture for both the health and well-being of Essex residents but most importanlly the added value and economic benefit of the 8rts in regeneration. They have restored our rèv8nue funding for the next four years 8t £100,000 per year. At th8 start of the flnanci81 year we 8mployed 37 (full tlme) staff. As we re-opened, we recruit8d new staff m8mbers as our operation expanded to meèt the demands of the new building and incr88sed usage. At the year-end we employed 68 staff {￿E). In 2021122: The core focus of the year was to re-open our n8w building and maintain programme of perfomiances and events, to ensure the financial vlability of the organisation and to protect and support our audlences, users. staff and fr8elancers. Roach and Engagement Wa are proud that against all the odds we were not only able to re-open our brand- new theatre in Jun8 bul launch our largest Creative Engagem8nt programme ever. Within the first few weeks of opaning all our classes and workshops reached 95Yo capacity with overwhelming demand for space hlre from local artists and community organisations. During 2021122 we were ab18 to offer the following range of work: Mercury Productions - Baskervllle, Antigone, Aladdin and Blackmail Colchester Mercury Theatre Ltd Trustees, Report for the Year Ended 31 March 2022 Creatlve Engagement Programme of classes arKI workshops for adults, hildren and young pèople Masterclasses and training events Artist Nelworking Events Play Readings Family Sing a longs New year-round programme in our studio supportlng local artlsts to present thelr work and nallonal small-scale louring Launched a new free programme of LATES - in our new barlcafé - induding Cocktail Cabaret (new LGBT monthly cabaret nightl, events to support 81ack History Month, World Alds Day and other Cabaret and spoken word evening. We have been delighted with the positive feedback from audlences and users about our new bulldlng and 811 its facilitles. We Continue to gain 4.7. our of 5" in all surveys. Number of Shows: 317 Audl8nce Attendance: 81,310 (64%) None tScket8d attendees 25,000 Number of Access P8rformances: 14 Senlor Matinees (During the year we re-introduced British Slgn Language Interpreted performances for the first Ilme in 10 years). Partlclpatlon and Engagomont A¢tlvlt108 C￿ative Engagernent S8sslons 779 Participants 17,602 Young Company Membern 417 (increase of 272 young p80ple weekly) Mercury Creatives Mentoring and Advic8 Sessions 156 Businesses supported 114 Mentoring Hours 2,736 New Job created 75 New products crea18d 90 Showcase events 314 hours N8w investment generated £2,102,142 Essex Theatre Artists Network M8mbers'. 1.100 Associate Artlsts Nurnber of Artists Number of artists employed Additional Collaborators Sharing Att8ndees 1.081 Colchester Mercury Theatre Lld Trustees, Report for the Year Ended 31 March 2022 Masterclasses Research and Development PlaywrightslProducerslDirectors 24 Workshops (above) Other projects continued to be develop8d including.. The Mercury Teachers, Network continued to work In partnership with teach8rs from Colchester and across Essex. W8 continu8 our partnership with Royal Opera Hous8 Bridge to support this aspect of our work. Creatlve Engag8ment staff worked with other local organisations and the Royal Opera House Bridge to establish a Local Cultural Education Partnership (LCEP) in Colchester to ensure the future engagement of schools In the quality provislon of arts and cultural activities. In 2022123, the Mercury will become th8 $8cretari8t for the LCEP. Our Asplre, Share Create contlnued durlng the yéar in response to a gap in out of school provision for young people with autlsm spectrum condltlons with after school and holiday sesslons al the Mercury and in lo¢al speclal schools. This programme continued to be funded by Essex County Council. Due to the pandemic we were unable to offer our usual work èxperience and Internshlps placement. However, we were able to offer these young people access lo our masterclasses and workshops for free to enable them to gain some knowledge of the industry. These were pr8s8nled Sn partnership with Essex University and Colchester Institute. Our Mercury Cr8atives programme continued during the year with support from the European Reglonal Development Fund. The programme aims to offer mentoring, training and professional development to artists and creatlve businesses across the South East LEP reglon. Launched a new weekly Mercury Senlor Club wlth 103 people enrolled. We ￿ntInued to work in partnership with local community organisalions Includlng.. Outhouse, Colchester Prlde, Black History Month, Autism Anglia, Colchester Refugee Action and Community 360. Productlons & Actlviti88 The Mercury continued to be active in the civic life and well-being of Colchester and Essex through board and project group representation in forums such as Creative Colchester, Colchester Business Improvement Distrlct (BID}, Essex Chamber of Commerc8, Haven Gateway Partnership and Vi51t Essex. In addition to these forums, our Executive Dir6Ctor continued as a mernb8r of the Covid Emergency Response Board for Colchest8r. As an organisation throughout the year, we were proud to be able to continue to contribute towards the well-being of our local community. Staff volunteered to deliver food parcels and medicines, our wardrobe team made masks and scrubs for thè local hospital, and we provided free space to enable local community groups to meet safely. In addition, the Mercury has become a Foodbank donation ￿ntre. Colchester Mercury Theatre Ltd Trustees, Report for tho Year Ended 31 March 2022 As we re-opened. we were proud to be abl8r to participate in the Govemment's Kickstart Programme offering 11 local young unemployed people jobs in our Customer Experien￿ Team. At the year-end we were able to offer 7 of these young people permanent roles within our team. Mercury Rislng - Large Capltal Scheme Against the challenging baGkdrop of the pandémic, the Mercury's Board, Executive and Senior Management completed the scheme during the y8ar in partnèrship with Colchester Borough Council and Colchester Borough Homes. The challenges of the various lockdowns had a slgnificant impaGt on the programme of works resulting in completion being eventually 10 months late. Thls wa8 as a result The requirement to reduce contactors allowed on slte to 25% of nomial worklng Interruptlons in the supply Chain for materials Contractors and their stsff shlelding or seff-isolating and therefore not being available when schedule5, The project was eventually comp18t8d and received practical completion on the 20 April and had a 'soft opening. late May (fronl of house and b8rlcafé area with our Creative Engagement programme Gommencing on the 151 June and performances late July. The impact of Covld on project costs and Ihe d81ay was signlflcant. How8v8r, we were grateful to receive emergency fundlng from Arts Coun¢ll EnglandlDCMS Kick Start Scheme (£864,089) and addltlonal support from Colchester Borough Councll (£300,000) and SELEP {£228,000). We are pleased to confimi that the project was completed wllh a revised budget of £11.870,845 (net) £14,245,014 (grossl with no further financial liability. The scheme was project managed by Colchester Borough Council and the majority of the income and expendlture will therefore not be received or incurred by Colchester Mercury Theatre. As prevlously noted, this caplt81 investment will allow the M8rcury to develop new sustainable income sources lo ensure futurè resillence including bar and catering income. hirè of space, increased box office from increased capacity and the wider benefits of all activities on onè site. Governanc• At the AGM held in December 2021, we marked the retiremenl of our Chalr, Kalhleen Hamilton after eight years, service. We are graleful for her lireless support and advocacy throughout a pedod of slgnificant growth for the organisation, Two further Trustees reach8d the end of their lenure - Simon Warwck and Patrick Sandford. Again. we ar8 graleful to each of them for all thelr hard work. Robert West was appointed Chair with a further recruitment programme commenced ft)r new Board Members. Colchester Mercury Theatro Ltd Trustees. Report for the Year Ended 31 March 2022 Flnanclal Rovlew The Mercury Thèatre's continued artistic achlevements have ensured a solid financial perfomiance. As with all organisations of this type and slze we must ensure that W8 maintain both customer experience and artistie development. The Statement of Financlal Actlvlties (SOFA) shows income and exp8ndlture for the haritable group and differentiates be￿een unrestricted, designated and restricted funds allocated for specrfic purposès. The total Income, including recovery of theatre tax credit, for the year was £3.997,374 (2021 £2,049,528). During the financial year capital projects and organisation81 development work were carried out which has meant a slight f811 in designated reseNes of £34,582. The total unrestrictèd reserves increased by £59,540 and the Trustees 8r8 of the oplnion that the design8t8d reserves should be utlllsed for the furtherance of the company's maln objeclives. There are a150 £117,077 r8slricted res8Nes12021 £357,703) - some of the prolect actlvities In rélation to these reserves have not yet b88n carried out and the majority relates lo the Mercury Rising campaign of£67,311. 11 Is envlsaged the th8t deslgnated reseN8s will be utlllsed withln the nexl 5 years as major capital development and audience developmeni projects ar8 scheduled. The Smaller restrlcted reserves will be utilised as and when the relevant prolecl Is implemented thls is Ilkely to be wlthin the next 2 financial years. The tlcket levy which was introduced as part of the Mercury Rislng campalgn wlll continue for the next 3 years. The levy will be ulilised to répay the NESTA108n which was received as part of the larg6 capital fundraising. A total of £591,556 12021 £553,882) of designated reserves and a total of £012021 £53,300) of restricted r8serves is held In fixed assets. The Colchester Mercury Theatre contlnued to receive revenue funding from Arts Councll England of £791,682 and Colchester Borough Councll £168,175, together with projèct and emergèncy funding as shown In not8 4 to the financial statements. During the year revenue funding from Essex County Council of £100.000 was also re-lnstated. The Board appraciates the continued support of the major funders and also the support of other funders throughout th8 financial year. The Board considers that the charity's financial posttion at the balance sheet date is satisfactory. Investment powers and pollcy Under the Memorandum and Articles of ASp￿)¢18t10n, the charity has the power to invest in any way th8 trustees wish. The trustees, having regard to maintaining a low risk investment portfolio and the liquidity requirements of operating the theatre. have operated a policy of keeping available funds in interest bearing deposit and trsasury accounts and seek to achieve as high a rate of interest as possible in the current economiG climate. Ro8orve8 policy It is the policy of the trustees to maintain 8n Operalional Reserve Fund comm8nsurate with the possible risks that the charity may face. The trustees li Colchestsr Morcury Theatre Ltd Trustees, Report for th• Year Ended 31 March 2022 consider that the required level of such a fund should ¢urrently be in the region of £200,000 which is to cover core operational costs for a period of 3 months. At 31. March 2022, this fund had a balance of £332,186 (excluding funds tièd up in fixed assets). Thls policy is review8d regularly, and the requir8d level may be increased should this be deèmed necessary. Due to the current in¢rease in cost of living the Board have tsken the decision to hold more funds in thè operational reserve as al 31st March 2022 in order to mget any increas8d costs as they are incurred. Fundraising Actlvltle8 As for many charitles, raising voluntary funds from trusts, foundations and indlviduals is a vilal source of Income for Ihe Mercury, enabling us to fulfil our charitable objectives as effectively as possiblè. We are very grat8ful for the support given by all our donors. The Mercury believes that fundraising should be an open, honast and respectful process. We aim to bulld and maintain solid partnerships with our supporters and donors. based on mutual understanding and shar8é values. In developing our approach to fundraising w8 have taken account of the Code of Fundraising Practice issued by the Fundraising Regulator and we are members of the Institute of Fundraislng. The Mer¢ury operates wlth one full tlme fundrelslng member of stsff. Extemal professional fundraisers are contracted on a project basis but are closely monitored and do not directly engage with donors. The Mercury does not engage in face-to-face or telephone fundraising or any further commercial agreements that might endanger our reputation. During the year, the M8rcury continued to monitor Its use of data. Our Prlvacy Pollcy Is publlshed on our w8bslte, and clearly states what personal data the Mercury wlll hold in relalion to supporters and audi8nces and how this data will be used. It sets oul how Individuals can raise concerns or complaints. The Mercury has received no complaints about Its fundraising activlties during the financial year. Post Balanco Shèet Actlvltle• In response to the ¢ontlnued public health emergency around Covld-19, during the year the Mercury supported all staff to be able to work at home when needed and offer socially dlstanced workspace at the Mèrcury. The Executive Director and Projects and Facilities Manager worked in partn8rship wilh Colchest6r Borough Homes, Colchester Borough Councll and Phelan's our main contractor to ensure that the slte complied with all health and safety regulatlons. Going Concern Having reviewed th8 charity's financial forecasts and expected future cash flows, the Trustees have a ￿asOnable expèclation that the charity and group have adequate rèsources to continue in operational existence for the foreseeable future, although this Is subjecl to the unprecedenl Issues around Covid-19 and the current cost of living crisis. Thus the going concern basis has been adopted in preparing these financial statements for the year ended 31" March 2022. 12 Colchester Mercury Theatre Ltd Trustees, Report for the Year Ended 31 March 2022 Prlnclplo Rlsks and Uncortainties Relating to Covld.19 Al a m8eting in March 2020, the Board set out the risks in relation to the Covid-19 pandemic and agreed an interim emergency meeting structure with the Executive Team to continLAe to monitor the situation and review risks on a we8kly basis. The risks in¢lude: Cash flow Loss or unavailability of key p8rsonnel Protectlon of the theatr8s' assets and completion of the capital project Going concem Impact on Ihe wlder economy and available public, charitsble and private grants and donatlons. Impact on youth and community partner organisalions Impacl on artists and the wider freelance theatre sector Flnanclal Uncertaintlas Relatod to Covid-19 and Mltlgated A¢tlon Arts and cultural organlsations across the UK were deeply affecl8d by the closure orders by the Government and the lockdowns between 2020 and 2022. It has been extremely challenging for producing theatres who have lost their primary source of income from performances but also to have to be forced to plan and re-plan. The Executive, Senlor Management and Trustees ￿SpOnded by.. Ensuring all staff and Trustees w8r8 safe and secure Reducing all running cosls as much as possible Frontloading grant income where possible Furloughing a signlficant proportion of staff (in rotation to ensure our onllne programme could continue and work on the capltal project ¢ontlnues) Th8 S8nlor Management team undartook extensive planning to re-budget and draft detailed cashflows during the perlod that indlcated the Mercury would be ab18 to meet its costs and liabllities for 12 months. However, this would have resulted In having to use its reserves, continued public funding and secure 8éditional support. The Executive team pursued all avenues lo secur8 additional flnancial support and wer8 grateful for support from the Government's Cultural Recovery Fund of £250,000 to support salaries and overheads and a further £864,089 towards capital paid directly to our projbct partners Colchester Borough Council. In addition, the Mercury benefit8d from CJRS p8yments (Fudough) and Covid SUPPOrt re SSP during the year of £2,218. The Impact of Covid-19 on thè Charlty's Ablllty to Fundraise and How Thls Is Being Managed The impact of Covid-19 has continued to have an impact on our work since re- opening. Many of the traditional project funds to support our work were re-diverted to support more frontline services or recently tha cost of living crisis. However, the Mercury has re-doubled ils efforts lo secure income from our Frlends Scheme and retained relationships with long-standing trus15 and foundations. 13 Colchester Mercury Theatre Ltd Trustees, Report for tho Year Ended 31 March 2022 Tho Impact of the Vlrus on Staff and Bengficiarios and tho Implieatlons for thè Charity's Opèration and Actlvltles. In Ihe previous year, the majorlty of both p8rmanent and casual staff (apart from a core management t8am of 5) were furloughed on rotation (in order to allow us to continue an online pro9ramme and continu8 to compl8te building work). As r8Strictions lifted staff gradually returned to work in a phased manner (especially as they were all returning lo a new building). At all tim8s we ensured the safÈty and welfare of all staff and vislting creatives through regular ¢ovid testing and the provision of socially distanced worl(ing environments. The lrnpact on the Charlty'8 re8arve8 pollcy, levèl of roserv•8 and any change to the designatod funds sot aside for future commltmont8 Whèn compared to many In the sector, the Mercury has been rèlatively lucky as the buildlng was closed and our core staff had already been reduced in order to accommodate our capitsl prolect. We have b88n able to r8taln our reserves and not 811ocate funds to meet general operatlng costs. Plan8 for Future Perlods The currènt business plan lays out the broad future for the Mercury. These wlll be developed further by the Ex8CUtive Te8m In early 2022123. Glven Ihe major Impact of the Mercury Rising Capital scheme, the next Iwo years wlll be a pèriod of significant change for the organisation. However, we have a once in a genaralion opportunily of embracing new facilitles for our artists, audi8nces and users to use and enjoy, A limlted (and scalabl8) prograrnme has been devised to ensure that the Mercury is still able lo produce and engage audlences but most Importantly remain flnanclally stable, rlsk aware and safe. With the support of the Arts Councll and DCMS Cultural Recovery Fund, Ihe Mercury was able to invest in planning for its future and the re-opening of the new building: Extended Youth and Community Programme AII PPE costs - sGre8ns, temperature checking d8vlces etc Staff Tralning - Covid Health and Safety Business Consultant to review current and future aims and objectives H9811h and Safely Consultant New Markeling campaign lo build confldence amongst vulnerable audi8nce members (including new access videos for disabled audiences and video content featurlng new Covid safety measures 1. In 2022123 The Mercury Theatre aims to: Consolidate its programme in the new building ensuring the maximum financial benefit can be galned whilst retsining quality and the welfare of our stsff arKI creatives. 14 Colchester Mercury Theatre Ltd Trustees, Report for th• Yoar Ended 31 March 2022 Throughout this year we will seek to conlinue to deliver a range of creative engagement and talent opportunities at the Mercury and elsewhere in the community to target groups and those interested in developing professional skills in th8 arts. We will continua to provide opportunities for other amateur and communty groups to present their work. During 2022123 we will develop a new business plan for the period 2023-26 and review all HR policies. procedures and strategies. 2. To bocome onè of the leadlng cantrns of excallènco for tho theatro industry by: a) Ensuring excellence in quality of work b) Building on co-producing and UK lourlng ¢) Working In partnershlp with other relevant organlsalions d) Buildlng upon intèrnational links developed in re¢8nt years e) Fostering artistlc growth and development fl D8veloping skills of staff at all levels g) Building the reputation of the Mercury Theatre, Colchester and the East of England h) Maintalning excellence in productlon and workshop facilities 3. To bulld aud5enc• volumes and the age rangg and dlvor8lty of audlen¢e8 by: a> Working wlth Colchester Borough Councll, Essex County Councll and other local and reglonal arts organisatlons to d8velop existlng Learning and Participation Programme b) Developing an engagem8nt programrne for young peopl8 c) Exploiting the opportunltl8s provided by our website and other dlgital plafforms d) Reviewing current marketlng operation, including staffing levels. to ensure maximurn efficiency and impact Trustsos, rgsponslbllltles In relatlon to the flnanclal ststomonts The trustees (who are also directors of Colchester Mercury Theatre Ltd for the purpose of company law) are responsible for preparing the Trustees, Report and the financial slaloments in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires trustees to prepare finanGial statements for each financlal year which give a tru& and fair view of Ihe state of affairs of the charity and the group and the incoming reSoU￿S and application of résources, including the income and Colchoster Mercury Theatre Ltd Trustees, Report for the Year Ended 31 March 2022 expenditure of the Gharitable group for that period. In preparing these financial statements, the trustees are required to: Select suitable accounting policies and then apply them consistently. stste whether a Statemènt of Recommended Practice ISORP) applles and has been followed, subJ6ct to any material departures whlch are èxplained in the financial statements. Make sound judg8ments and estimates that are reasonable and prudent. Comply with applicable Accounting Standards, including FRS 102. subject to any material departures disclosed and explained in thè financial statements. Prepare the financial statements on the going concern basis unless It is Inappropriat8 to presume Ihat the charity will continue in buslness. The trustees are responslble for keeping proper accounting records which dls¢lose with reasonable accuracy at any time Ihè flnancial posillon of the charity and enables them to ensure that th8 financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charity and hence for laking reasonable steps for the prevenllon and detection of fraud and other Irregularili8S. In accordance with company law, as the company's directors, we, the trustees certify that,. So far as we are aware, there 18 no relevant audit Information of which the company's audltors are unaware. As the dlrectors of the company we have taken all the stèps that we ought to have taken In order to make ourselves aware of any relevant audit information and to gstsblish that the charity's auditors are aware of Ihat information. Audltors Moore Kingston Smlth LLP wer8 appointed auditors to the charity for the year and resolution will be proposed at the Annual General Meetlng that Griffin Chapman be appointed as auditors lo the charity for the ensuing year. Finally, we would like to thank the senior manag8ment team and all staff members of Ihe Mercury for all their work and ongoing commitmenl lo our theatre. This report has been prepared in accordance wlth Ihe provisions applicable to companies entitled to the small companies regime. The Trustees report was approved by members of the Board on 61h Decèmber 2022 and signed on th8ir behalf by: By order of the trustees Robert W8St Chair Haz81 Skayman Company Secretary 16 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEES OF COLCHESTER MERCURY THEATRE LIMITED Oplnlon We have 8udited the financial statements of Colchester Mercury The81￿ Limited Ithe'parent charitable companVI and Ils subsidiaries (the 'group') for the year ended 31 March 2022 which comprise the Con5011dated Slalemenl of Financial Activlties, the Consolidated and Parent Charitable Company Balance Sheets, the Consolidated Cash Flow Statement and notes to the financial 51alemenls. including Slgnrflcant accounting policies. The flnanclal reporting framework that has been applled in thelr preparallon is applicable law and United Kingdom Accounting Slandards, including FRS 102 'The FinanGial Reporting Standard Applicable In the UK and Republic of Ireland, {Unlted Kingdom Generally Accepted Accounllng Practice). In our oplnlon lh8 flnanclal stslements.. give a true and falr vlew of the stale of the group's and the parent charitable company's affair8 as at 31 March 2022 and of the group s incomlng resources and application of resources, Including119 Income and expendlture, for the year then endèd.. have been properly prepared In accordance wlth Uniled Klngdom Generally Accépted Accounllng Practice,. and have been preparod In accordance wbth the requlrement8 of th8 Companles Act 2006 and the Charllies Acl 2011. Ba•1• for oplnlon W• Gonducted our audit In accordance vllh Internallonal Standards on Audlting IUKI IISAS IUK)) and applicable law. Our responsibilities under those standards are further d&s¢ribed in the Audilorfs Responslbilities for the audll of the flnanclal 8lalement5 se¢llon of our report. We are Independent of the charitable company In acCOrdar￿ wllh the elhlcal requlrèmenls that are relevant to our audit of the financlal statements In the UK, Including the FRC'S Elhlcal St8ndard, arKI we have fulfilled our other ethlcal respon8ibilill¢s In accordance wllh these requlremenls. We believe that the audit evldence we have obt8lned18 8Lrfn¢lent and approprlale to provlde a basls for our opinion. Conclu$lon• relatlng to golng conG•m In audltlng the flnanclal slat8menls, we have concluded that the tru8tee8' use of the golng concern basls of 8ccounllng In the pr6par811on of the llnanclal statements Is appropriale. Based on the work we have perfomiod, we have not idenimed any materlal uncertalntie8 relatlng lo events or conditlons that, Indlvidually or collecllvely, may cast signrfi¢ant doubl on the group's and parent charllable company's ablllly to continue as a going concern for a period of al lea51 twelve month8 from when the financial 8talemen15 are authori5ed for Issue. Our responslbililies and the re5ponsibilllles of the trustoes wrth respect to golng concern are descrlbed In Ihe relevant soctions of thls report. Othor Informatlon The other informalion ¢omprises the information included In the annual report. other than the financial Statements and our auditor's report Ihereon. The Iruslees are responslbl8 for the other Information conlalned w'rthin Ihe annual report. Our opinion on the flnanclal slalemenls does not cover the other Information and, except lo the extent otherwise expli¢illy stated in our report, we do not express any form of 8ssuranGe ¢onclusion Ihereon. Our responsibility is to read the other Information and. In doing so, consider whether the oth information 15 rnaterially inconsl$tenl wllh the flnan¢l81 statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identrfy such material inconsistencies or apparent material misstatements. we are required to determine whether there is a material misstatement in the flnancial statement8 themselves. If, based on the workwe have performed, 17 we ¢on¢lude that there is a materlal misstatement of this other information, we are required lo report that fact. We have nothing to rekX)rt In Ihls regard. Oplnlon$ on thher mattors pro8¢rfbed by the Companlos Act 2006 In our opinlon. based on the work undertaken in the course of the audit.. the Infomatlon glven in the trustees, annual report for the financial year for which the financlal statements are prep8red is conslstent with the finan¢i81 slatem8nl$; and the Iruslees, annual r&port have been prepared in accordance wth appliCat￿e legal requirements. Matt•rn on whlch wo are roqulred lo roport by ox¢opllon In the Ilght of the knowledge and underslandlng of the group and parent charitable comp8ny and Ihelr environment obtained In the course of the audlt. we have not Ident￿l￿d material mlsslalements In the Irust8e¥' annual report. We have nothlng to report In respect of the following matters where the Companw Act 2006 and the CharS1th Act 2011 requlre us to report lo you If. In our oplnlon.. the parent charitable company has not kèpl adequate and sufficlent accounting records, or retums adequate for our audlt have not been recelved from branches not visited by us. or the parent charitable company's financial statements are not agreement with the a¢¢ounting records and returns,. or certabn disclosures of trusteés, r•munerallon speclfied by law are not made.. or we have not recelved all the Informalion and explanations we require for our audlt,. or the trustee8 were not enlllled lo prepare the flnancial statements in accordan¢e with the small companies regbme and tske advantage of Ihe small companies exemption In preparing the Tru81ees' Annual Report and from preparlng a strateglc report. RMpon8lbllltlo8 of tru8t••• A$ explalned more fully In the trustees, rosponsiblllties statement sel out on page 15, the trustees (who are also the directors of the charitable Gornpany for the purpos6s of company lawl are respon8lble for the preparatlon of the financlal sl8tement5 and for being Satisf￿ that they give a true and fair vlew, 8nd for such Internal Control as the Iruslees determlne is necèssary lo enable the prep8r8llon offinanclal statements that are free from material misslatemenl, whether due to fraud or error. In preparfng th8 financlal statement5, the trustees are responslble for assesslng the group and parent ¢harltable company's ability to continue as a going concern, dl¥closlng, as appllcable, matters related to golng concern and using the going concèrn basls of accounting unless the trustees ellher intend to liquldale the group or parent charitable ¢ompany or lo cease operallons, or have no reallslic alternative bul to do so. Audltor's Respon$iblllt108 for the audlt of th• Ilnanclal statements We have been appointed as auditor under the Companies Act 2006 and se¢tlon 151 of the Charltles Act 2011 and report in aCcOrdar￿ with those Acts. Our objectives are to obtain reasonable assurance about %thelher the financlal slalements as a whole are free from malerial mlsstalement, whether due lo fraud or error. and to issue an audiliy'5 report that Includes our opinion. Reasonable assurance Is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) wll alway$ detect a material misstatement when it exists. Misslalemenls can arise from fraud or error and are considered materi21 ￿. Individually or in aggregate. they could reasonably be expected lo Influence the ewnomic decisions of users taken on the basis of these financial stslements. As part of an audit in accordance wlh ISAS {UK) we exercise professlonal judgement and malntaln professional scepticism throLtghout the audit. We also.. Idenllfy and assess the risks of materlal misstalement of the financlal statements. wh81her due to fraud or error, design and perform audit procedures responslve lo those risks, and obtsin audit evidence Ihal is sufficient and appropriate lo provlde a basls for our oplnion. The Tisk of not detecting a material misslalement resulting from fraud is higher than for one resulting from 8rror, as fraud may involve collusion, forgery. intenllonal omissions. misrepresenlats'ons, or the override of internal control. Obtain an understanding of internal control relevant to the audit In order lo deslgn audit procedures that are appropriate in the Gircumslances, but not for the purposes of expr8ssing an opinion on the effectiveness of the group and parent ¢harilable company's Intemal control. Evaluate the approprlaleness of accountlng policies used and the rea8onablene6$ of accounting estlmales and related dlsclosures made by tho trustees. Conclude on the approprlaleness of the trustees, use of the going concern bas1$ of accounllng and. based on the audit evidence obtslned, whether a material uncertainty exists related to ev8nl$ or condillons that m8y cast slgnrficant doubl on the group and parent charltable company s ability to Continue a8 8 golng concern. If we conclude that a material uncertalnty exist¥, we are requlred lo dr8w attenllon In our audltor's report lo the related digclosures in the financlal slalements or, if su¢h dlsclosures am Inadequate. to modify our oplnion. Our conGlu8ion5 are based on the audll evldence obtalned up to Ihe dale of our auditor's report. However, future ev8nt8 or condltlons may cause the group or parent charitable company to cease lo continue as a golng concern. Evaluate the overall pre$entalion, struclure 8nd content of th8 flnanclal statement8, indudlng the dls¢losures, and whether the financlal stalem&nls represent Ihe underlying transactions and events in a manner that 8ch18ves f8lr presentation. Oblaln $uffl¢lenl appropriate audit evidence ragardlng the finan¢lal Information of the enli116S or buslness activities wllhin the group lo expTess an opSnion on the con501idaled financlal 8talemenls. We are responslble for the direction, supervSsion and performance of the group 8udll. We remaSn 501ely responsiblè for our audll report. W8 communlcale wlth those charged with governance regardlng, among other matters, th• planned scope and liming of the audlt and 5ignlficanl audll findlngs. Includlng any slgnlflcanl deflGienci88 In Internal control that we identify during our audkt. ExplanalSon as to what ext•nt th• audlt was ¢onsldered capable of dotOCtlng lrrogularlt1￿, In¢ludlng fraud Irregularltles. Including fraud, are instances of nonwcompllance with laws and regulallons. W6 design proGedur88 In line with our responsibiltties, outlined above. to delecl malerlal mi581atemenls in respect of irregularities, including fraud. The extent lo whlch our procedur85 are capable of detecting irregularlties, Sncluding fraud is detsiled below. The oblecllv85 of our audit in rgspecl of fraud, are. to identlly and assess the risks of material misslalemenl of the financial slalements due to fraud.. lo obtain Sufficienl appropriate audit evidence regarding the assessed risks of material mi88talemenl due lo fraud, through designing and implementing appropriate respon$es lo those assessed risks., and lo respond appropriately to instances of fraud or suspected fraud identtfied during the audit. However. the primary responsibility for the prevention and detection of fraud rests with both management and those Charged with governance of the charitable company. Our approach was as follows: We obtained an understanding of the legal and regulatory requirements appli¢able lo the charitable company and considered that the most significant are Ilhe Companies Act 2006, the Charities Act 2011. the Charity SORP, and UK finan¢i81 reporting staThJards as issued by the Financial Reporting Councill We obtained an under8tandlng of how the charitable company ¢omplies with these requirements by disGusslons with managem8nt and those charged with govemance. We assessed the risk of material mlsslatemenl of the financial slatemenls, including the risk of malerlal misslalemenl due to fraud and how 11 might occur, by holding discussions with managemenl and those charged wlth governarKe. We inquired of management and those ¢harged wllh governance as lo any known Inslances of non-compliance or suspected non-¢ompllance with law8 and regulatlons. Based on Ihls underslandlng, we designed specrfic approprlate audll pro¢edur8S to Idenllfy Instances of nonns, or through collusion. Us• of our r•port This report Is made solely to the charitable company's members, a5 a body, In accordance with Chapter 3 of Part 16 of the Companles Act 2006 and, in re¥peol of the oon80lidated financial slalemenls, to the charity'5 Iruslees, as a body, In accordance wllh Chapter 3 of Part 8 of the Charities Act 2011. Our audit work has been undertaken so that we mlghl stale lo the charltable company s members and Iruslees those matters which we are requlred lo stale to tham In an audllor's report and for no other purpose. To the fullest exlenl permitted by law, we do not accept or assume responsbbillty to any party olh8r than the charitable company, tho charltable comp8ny 8 members, a5 a body, and the Gharws trustees, 8$ ljody, for our audit work, for Ihls report, or for the oplnlon we have formed. IDatel 19 December 2022 Karen W?rdell (Senlor Statutory AudttoT) for and on behalf of Moore Kingston Smith LLP, Slalulory Auditor Devonshire Hou8e 9 Appold Street London EC2A 2AP Moore Klngston Sm6th LLP Is ellglble to act as audltor in terms of Section 1212 of the Companles Act 2006. 20 cold￿st•r Mercury Thèairè Lld Y•aT ended 31 March 2022 Consalldated Statgm*nt of Flnanclal A¢11￿￿¢¥ lln¢NporaWng Inm and Expendl¢yrèAecount¥l t•d Cip Pun* Opb14#￿ 2021 124.W6 111311 1.gTe,818 4¥UIY 451317 211 1,514￿1 tJKa$1 1*801 1JUIT Al iJ4>Js 4Z4,124 &TU>Ji TOT*LIXPENDThU J.5N$97 i)u 4*124 .11*410 NET IIXPENNTupA￿¢¢t1É 1174.rn) 7FJ2d a￿1 ¥J•,(q4 •IU•l 251J IA•IJ5• P¥ntstN 67J%l Colchest•r Mèrcury Th•¥trè Lld Year end•d 31 March 2022 Consolidated Balance Sheet Group ComppDy 2022 2021 2022 Fl As It)tanglble Aysets Tfjng1b￿ FI￿d As8at8 Inv8sln8nts 40.066 552A85 44,824 564.123 39.U8 552,4•5 200 43,974 564.123 14 15 Curr•nt Ag5•ts Stor Debtors Ca$h 8t Bank In 16 27,$56 763.391 1,610081 2M01,82 11,131 312,199 1,573,035 1,896,365 11￿33 918A05 691,163 1.820.821 340,806 1,093.818 1,445.553 Curr•n¢ Uab Cr6drtorn.' Amoun1& [al￿n9 duo wlthln one y••r 18 11,495AS01 1771,9521 1937,611 1395,0831 906,378 1.124.413 1,050,470 1Ag8,929 1,733,360 1378.011 1,858.767 Amounts f8lllng due aftorone >wr 1210,3J71 1271,8821 1218,3371 1271,6821 1200.592 1A61.678 1.058,874 1.387.095 Sharn CaplLql 22 20 Unres¢rfded Opgrallonal Fund Unr•8trfct8d De￿9￿9¢94 Fund 332,le6 831.309 238,064 865,891 108.260 031,309 163,471 865,891 Toial Vnmirf¢W Fundl 1,183A15 1.103.955 939,$77 1,020,362 Restr5Gl•d Fufftda 117.077 367,703 117,077 357.703 Totsl funth 1210.592 1,481,878 1￿36,174 1.367.085 The8e fln8ndal statom¢nl8 have been w•par•d In acco￿ar￿a wNh tho op¢dal wovlsknnokr imil c￿pA￿e$ und•r P•rt 15 ofthe Corn￿￿1￿￿ Ad 2￿6. A8 pemM¢ed by S408 Companles Ac12rx16, the Company ha$ pre88nted hs ¢ywn siatement of Flnanrjal St•tem8nts and Td•t•d not05. The ￿t Inttfflo olthe Chw18b￿ Cornpany abne was 8 deflcll of£l181,086112021- 8 8urplu$ of £335,185). 6/iz/£2 Th•sg flnondal Statarnents wore approvad by tho Vambers olth¢ Bwd on tho.......................... and are ￿gned on theK behElf by.. e# Duedor Company Regislrntkjn Number441035 22 Colchestsr MercuryThgatr• Ltd Y•ar •nd•d 31 Morch 2022 Consolld•tsd Staternont of Cash Flrr• 2021 Not cash thfrom opernting Cash l%)w% Irom InvgsltrvJ whal.. Inier881 r￿Ofved Purcha88 ol property. P￿￿1 and 8qUI￿ent and iDtangibl8 888els N•1 ¢ash u¥ed ￿ in¥ésllTrJ actfviii 2OSA83 218 1174,510 91,191 1285.9871 259,679 Ripayments ol kians Net c8sh Infiowlrom flnanclTVJ 8cllvW•¥ 153W51 Chary In cash qnd Gwlh t￿￿8￿nI# In iho r•wtlng p•thJd C88h and cath eqU￿BIentI 81 Ihe beolnnlng of tho Cash and c•¥h equhf8lent8 81 th• ond of Ihb ￿&r 37,146 1.573.030 1,610,181 259.879 1,313.156 1,573,035 Not•• toth• G••h IILWI •lat•mM 11 R￿￿k14t￿on of G￿n98$ In r•wur<•¥10 nei Ir41uwfwom ¢P•Mlthg odMI•8 Nel Ir*•m D•prettknt*)n LO￿ on dl¥ogal of Am0rU8a￿on Ilnr#•aseVdecrnaue kn d•btorn Ilnu•aie)Idtuoaee In g•nk Intémt roMlvqbk* IDecr•280Wncroa88 In rndttorn 1181.0061 184.036 335,186 170.870 e,858 1104.2711 1451.1921 11i4251 12181 723 19281 129.658 N81 caumpwfrom aGllv4thJ¥ 21JM83 544,920 11} AnaW8 of¢hoThJrt In n81 dobt At 1 c#hftO￿ Olh•r non. At 31 M•r¢h 2022 C•8h and cath equlv4knlB 8h lTrhAThJ 1,573,035 37,846 1.810.681 Bor10￿ng8 Debt Thtthln one y••r D•bld￿ overorn year 198,9781 1271.6W21 1.204,375 196,9781 1218.337 1,295,588 53.345 91.191 23 Colch09tsrM•r¢ury ThBatTh7 Ltd y￿r*￿&•d 31 Mavch 20# NothFto th•Consolthl*ted FlTronclal 51ql•m¢n 81*Js ThD *AhlRIwblcdlieliMIFRS 1021. TheGworyb•puN*b¢MffttrwrorThpwppJv4ofFBS lo2￿￿ •Th1￿U￿1(￿l￿l￿ITh* FAS 102Clwth5SOFPkthbCtsrythes*Xt2N6wkl￿thM￿2I1I. Cour?￿ 91 P•n&* cO￿h*s1¢r M•T¢uryTh•atr4 Ltd Yèar*nd•d 31 March 202Y Not•• lo th•¢onwlldat¢d FlnanGfj•l St•t*￿Il6 11 Ac¢aUr•n9p*￿ hl I￿Str￿hlIhll IO%Str•9hll tr•nGlIUr pknIGr4NI T*Wxll pkn•. IlLIV ttlth•r•p￿rP0Ih￿￿Iv￿￿u•1IY￿tth￿lrIr￿•C¥￿ 21 Thè Ind Ly •¢onurl¢ wnd Mltyjil 1.24J.117 7VY1 16.)7Q Cèkhostsl ple￿UryThV￿tr* Ltd Y￿r+￿d•d 31 March 2022 Not•s toth•eor*JlbJ&t4d FiThanGl•l Sl•tqrtrt• Inrr 791,fflZ I￿.17s 161.175 101MO 261.￿0 2430 2>,Jll •J, •vJ¥ pNRc.55Pc￿Id.l9￿ Rc.sJBs Ms 118Y IU.757 121317 124 i.￿￿$2 1,#78A&g aO•l.. Ipm 17¢1 1.gF&J Y**thTcwICr•JnGII. 5WII•*• E¥re .247 •9,7J4 714 SQuih•r4pn￿¥ Dort4lhCouhtll lJ7• ilo IC4988 fJ07J I20￿ WupfwDFothidiiknltr41dwport) OF 447.aSI Y021 ?e 4YY,51T Colch•sl•r Mgr£uryTh04tie Ltd Y•arended 31 Mllrch 2D22 Noh¥to th•CUrts￿Id310d FlninGlal Stot•rn•nto vi. 4e4.0 ToWlund* I,J14￿1 PT) 745gJ 74,490 74.510 Inl 4.1J• J.8 7.Y¥ 74. RWiln•dpthJ ¥. TOL11F￿n 7.710 13. 17,ie2 31,331 I￿￿0￿￿(no11 101 451,1 £4W1$3￿ty￿mlvthl￿ndlIlOkl UI2YI ¢•lch*&tèrMgrcuryTh¢ilr• Ltd Y••r4ndtd 31 Maich 2022 Not•Stoth• ¢oTrgo4d*t•d Flnanclal statsM￿lI T*Wrtn4 2￿21 958 943,210 I55.￿6 44. 17& $1.923 l.M7,$14 122T.11S tJ2 14,880 lQ&793 31.gf8 I7&￿3 8284 Iq8M83 1J,7FS 137.T45 ov•r4bknVAT 1S2,24S I9￿1 I￿,071 129.79 1M3,iW W5 ?.BS5.4 s75.tio 947.016 1,14&139 100.5 81,741 1M47,614 1AIF EDI 31*231 IW282 170 135M3 19).306 &72&307 2411.. >Jii Tthl 14MJO DX414 14,6 ,6T2 In,w3 4M74 1D.121 ¢ommnKI&E￿ 114683 IW5 79,5 I￿71 19•.191 l.lOJ 10) 71, 24.711 15,75 13,648 i&1 42 B.7B7 17,03 277.3Jl Js JJ*i ?44.767 32.1gT 1&165 F.lQ2 ?1. 18. 2￿.n7 .1 11180 7.1 J39.1 2121 911 90911 8,n7 146,95b ColGhest•rM•rcury Th•atr• Ltd Y•arendpd 31 Mawch 2022 ConwlldaledFknDnGl418t•t•n*nts 111 2tr21 $8 S¥7 14, 15 21,9)3 21tz 91￿31 EthpWN 1g.Sa7 1,7M131 1*5.701 IIIYAIJ 1C¥JI Iss 1,7¥1Jl 42S7 2021 Al rt¥ot£lQJl2021 to toi Ypar•ndBd 31 Ma￿h 2022 FSJi•stythèCorMWdthd FIn￿Cial 8laleTh•rts 13) Tffj Al 1 Py12fj11 1.700 19.775 1112 A¢91 FAirtn2ro2 11776 4F116 18. 4.7# JI MwcbW22 a161 Asd31 M•rth1022 1&821 2&E48 *AAt31 17.78B 26.178 C(fflpww. Ur•rt¢ 19,7FJ ,114 A131 Wrth2022 47316 IT.fpJl At1 AW12021 1.gn 18. 1,71D J1 F4wch2Qli 4Fw131 Plirth2022 23YJ 17.78U .17$ J l Ap￿￿?021 71Q•71 W4JiO 31 Ilyrth¥riz 4MII1 l AwI2021 ch￿•￿1h•S￿T 101,3J• 41&10• ¥oJJio AI81 Mwoh2 1gD 4131 M•th2DZI c¢)f¢hWt•rN•t¢￿ry Th•*9 Ltd Ye•r•ndpd JI Ilarth 2022 L¥•pC*I Al l Aprf12DZ1 611 414.116 131,71> At31 klith tD22 JM.I J1W2ttt 611 J1.*1 4111 1,9IQW7 1WJ8 51 Mpwh2932 17. 50&1Z6 MttBoukV*u •A31 Mwth1022 •l31 ￿￿2[￿1 1b5IÈ4 llo¢,125 3021 ZOD c￿101•￿4• Ca*hBthI LWlnd•BI Cpkknr Ir Ic*) 1QO% 1QO% 10) Qr Ill 171 P•bW* Tri01 D*t 4JT4 ,70J 116.IIJB 7JJOS •1144¥ OT 2LRI 42D, .s?s 11I4Jl ,SFi 41. PAIEa OthwT& 20.864 44&7Z3 58.57 Jl.Bg3 6,9F8 NEsTAL￿(nQt4 191 2Jt •Th1•2 771.9* d Chryd Tk3 11.972.IWI 2.1TI.128 ch cft C¥khtrst•rM¢rcuryYhvlr• Ltd Y•arwnthd 31 2922 Not•$ k)th•¢onKdld&tsd FOr￿n¢la1 8t•t•rnn 2122 STAL￿ 218J57 271 218JS7 271 96.978 211 271. *•n*tmW2020unl1A￿jU1I202l SIwbit1021. Arw ¢i.N Jl.DJ21 3FJ io.wj Cthld.19SL 241.lJl 10.710 45MIO 4K711 i i3•,￿$ 1$1,)Ob 1.lOJ•Its cL4llhM￿rC•** Row0p￿ HruHMLCEP IJT M7 21.971 DYIP EST J4>74 17,*• E4th¢WtyTn 1i•Trybt 12.ONI IXJk7 1 *40>1 Jii sJ>x I¥)JDDI JWJJ IMS1.W 1Sg1.J76 IW5Y2 Cdclw¢•r MHreutyTh•4tfe Ltd Y•arend•d 31 March2022 J¢••tOt￿cOn￿Udllt•d 6i*emM 101 2121 BI￿7¢•￿ £quI￿ry￿ 137 Cob*19Sur•on 241.131 241.1)1 10,71J 11424•1 C•phwl 45 ISMD 51M11 I tyIMI 1•7.74•1 41*179 1J215 I IdTAT41 117.1 1.112.Jl• l.M1.112 4401 Edur4JM¥Th•I iJ4 11,•TJ ESTE Euwn FthIO SWOn• a&750 li EgL¥tyCMdpITtuil hyim FSJCl*lt4bliTNIl 8Mdbury 75JJl 80,C4J i¢s•si la5 179 7.1 1.IXAY2 2.•49.S l.Y14.J4 1,4•t.•ss TM•801￿￿￿5dE￿r*d Sswr IlwL*lpfwr thlnli* I9￿￿￿ort Cokhothr M•rcuryThgatr• U4 Y•Brwdqd 31 Mlrch 2022 NotsA to lh• CoTrs¢lhbot•d FI￿￿￿1￿1 Statorm TMfAkn 0IM21 J%.•U2 I•¥MT4 4J*611 lOIJIO J5.•bJ 11¥ 6F 1S7.70J s) 117,OTF 4,721114 1 *1S2.e4s 40,ty6 117,077 {1,49SA 1218.337) I.1￿￿93 20 di Tol ¥52AQ5 117,m 1M2DM1 193?hlll 1I7mT l.OlQ474 211 Pirty7lW*w¢¥MI lQ2Z'. 1021 Robwnt HIMIMKh Pli￿l￿•Y mrnw 211 2• >w•w••2•£l 211 ￿d￿d bjlld £S1.UI$