2021-03-31-accounts - The Gloucestershire Everyman Theatre Company Limited

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CONTENTS		Page
List ofofficers and advisers
Report ofthe	trustees	2-7
Report ofthe	Independent Audttor	8-10
Consolidated	Statement ofFinancial Activities
Charity Statement ofFinancial Activides		12
Consolidated	and Chatity Statements ofFinancial Posiuon	13
Consohdated	Cash Floss Statement	14-15
Notes to the Finanaal Statements		16-31

DIRECTORS/TRUSTEES	C RThomas —Chair
	Z Abmed
	J Blackburn
	M Borkowskt
	J Cantwell (resigned 26August			2021)
	TMDey (resigned 6 October 2021)
	M Dhanak (resigned 26	August		2021)
	WEA. Edwards (appointed		15November		2021)
	M Hamlin
	RHerford (resigned 6 October			2021)
	C FKong
	G Milner
	RJNicholls (resigned 26August 2021)
	DJ Russell (resigned 26August			2021)
	GECWoodcock
	J KWorkman
COMPANY SECRETARY	J KWorkman
CHIEF EXECUTIVE	M Goucher
ADDRESS &REGISTERED OFFICE	Everyman Theatte
	Regent Street
	Cheltenham
	Gloucestershne
	GL50 IHQ
AUDITOR	Andorran Limited
	Chartered Accountants	&Statutory Auditor
	6Manor Park Business	Centre
	Mackenzie Way
	Cheltenham
	Gloucestershire
	GL51 9TX
BANKERS	Barclays Bank Plc			Hampshire	Trust Bank
	128Htgh Street			55Bishopsgate
	Cheitenham GL50 1EL			London EC2N 3AS
	Cambridge &Coundes	Bank		Aldermore	Bank
	Charnwood Court			19George	Street
	5BNew Walk			Banbury OX165AS
	Leicester LE1 6TE
	United Trust Bank Ltd
	1 Ropemaker Street
	London EC2Y9AW
SOLICITORS	BPE
	StJames House
	StJames Square
	Cheltenham
	Gloucestershire
	GL50 3PR

					Total	Total
			Restricted Unrestticted		Funds	Funds
			Funds	Funds	2021	2020
INCOME FROM
Donanons and legacres (note 2a)			50,022	1,433,539	1,483,561	720,004
Other nading activities (note 2b)				81,727	81,727	595,766
Investment income (note	2c)			13,972	13,972	29,086
			50,022	L529438	1,579,260	1,344,856
Income from Charitable	Acdvittes	(note 3)		382,773	382,773	4,889,210
Other income (note 4)				595,753	595,753	101,104
Total			50,022	2,507,764	2,557,786	6,335,170
EXPENDITURE ON
Raising funds (note 5)				330,787	330,787	533,840
Charitable activities			171,009	2,308,199	2,479,208	5,559,051
Total			171,009	2,638,986	2,809,995	6,092,891
NET INCOME/(EXPENDITURE)
BEFORETRANSFERS			(120,987)	(131,222)	(252,209)	242,279
Transfers between funds	(note 21)		4,010	(4,010)
NET MOVEMENT OF FUNDS IN YEAR			(116,977)	(135,232)	(252,209)	242479
RECONCILIATION	OF FUNDS
Balance brought forwatd at 1April 2020			885,982	2,073,690	2,959,672	2,717,393
Balance carried forwatd at 31Match 2021			769,005	1,938,458	2,707,463	2,959,672
Analysis offunds (note 21):
Unrestncted general funds					460,085	546,428
Designated funds					1,478,373	1,527,262
Restncted capttal funds					691,422	812,181
Restncted income funds					77,583	73,801
					2,707,463	2,959,672

					Total	Total
			Restricted Unrestncted		Funds	Funds
			Funds	Funds	2021	2020
INCOME FROM
Donations and legacies (note 2a)			50,022	1,433,539	1,483,561	720,004
Investment income (note 2d)				62,102	62,102	172,086
			50,022	1,495,641	1,545,663	892,090
Income from Charitable	Activities	(note 3)		382,773	382,773	4,889,210
Other income				480,037	480,037	19,014
Total			50,022	2,358,451	2,408,473	5,800,314
EXPENDITURE ON
Rsismg funds (note 5)
Charitable activities (note 6)			171,009	2,489,824	2,660,833	5,558,035
Total			171,009	2,489,824	2,660,833	5,558,035
NET INCOME/(EXPENDITURE)
BEFORETRANSFERS			(120,987)	(131,373)	(252,360)	242479
Transfers between funds	(note 21)		4,010	(4,010)
NET MOVEMENT OF FUNDS IN YEAR (NOTE 10)			(116,977)	' (135,383)	(252,360)	242,279
RECONCILIATION	OF FUNDS
Balance brought forwatd at 1April 2020			885,982	2,073,690	2,959,672	2,717,393
Balance carried forwatd at 31Match 2021			769,005	1,938,307	2,707,312	2,959,672
Analysis offunds:
Unrestricted general funds					459,934	546,428
Designated funds					1,478,373	1,527762
Restncted capital funds					691,422	812,181
Restncted income funds					77,583	73,801
					2,707,312	2,959,672

		Group		Charity
	2021	2020	2021	2020
FIXEDASSETS
Tangible assets (note 12)	1,690,774	1,953,059	1,618,975	1,850,175
Investments (note 13)			4	4
	1,690,774	1,953,059	1,618,979	1,850,179
CURRENT ASSETS
Stocks	12,486	12,024
Debtors (uote 14)	544'51	525,4G1	490,960	502458
Cash at bank and in hand	3,886,777	2,913,493	3,875,824	2,832,958
	4,443,514	3,450,978	4,3G6,784	3335,216
CURRENT LIABILITIES
Crecbtors: Amounts falbng due witty one year (note 15)	2,286,254	2,091,106	2,137,880	1,891,464
NET CURRENT ASSETS	2,157,260	1,359,872	2,228,904	1,443,752
LIABILITIES
Creditors: amounts falling due after more than one year (note 16)	1,140,571	353$59	1,140,571	334,259
NET ASSETS (note 17)	2,707,463	2,959,672	2,707,312	2,959,672
FUNDS OFTHE CHARITY (note 21)
Restricted funds
Capital funds	691,422	812,181	691,422	812,181
Other restricted funds	77,583	73,801	77,583	73,801
Total restricted funds	769,005	885,982	769,005	885,982
Unrestricted income funds:
General	460,085	546,428	459,934	546,428
Destguated funds	1,478,373	1,527462	1,478,373	1,527,262
TOTAL CHARITY FUNDS	2,707,4G3	2,959,672	2,707,312	2,959,672

			2021	2020
Cash flows ftom opetating		activities
Cash generated Rom operating acnvities			166,223	401,733
Interest paid			(13,972)	(17,142)
Net cash from opetating		activities	152251	384591
Cash flows from investing		activities
Purchase oftangible flxed assets			(14,598)	(134,780)
Interest received			13,972	29,086
Taxation received				62,905
Net cash from investing	acnvifles		~626	~42,789
Cash flows from financing		activifles
Loan repayments in year			(28,341)	(184,308)
CBIL's loan			850,000
Net cash from flnancing	acnvltles		821,659	~184 308
Increase/(decrease) in cash		and cash eqiuvalents	973/84	157,494
Cash and cash equivalents at the beginning ofthe year			2,913,493	2,755,999
Cash and cash equivalents		at the end ofthe year	3,886,777	2,913,493

RECONCILIAT	I	ON OF INC	OME TO CASH GENER	ATED FROM OPERA	TIONS
				2021
Net income				(252,209)	242,279
Deprecianon charges				276,883	259,560
Fhtance costs				13,573	17,142
Finance income				(13,972)	(29,086)
				24,275	489,895
Decrease/(mcrease)		in stocks		(462)	813
Decrease/(mcrease)		in ttade and	other debtors	(18,790)	(18,475)
Increase/(decrease)		in trade and	other creditors	161,210	99,500
Cash generated	from opetating		activities	166,233	401,733

Year	ended 31March 2021
		31.3.21	1.4.20
Cash	and cash equivalents	3,886,777	2,913,493
Yeat	ended 31March 2020
		31.3.20	1.4.19
Cash	and cash equivalents	2,913,493	2,755,999

INCOME
				2021	2020
Donations and legacies (group and charity)
Unrestricted genenttfnndr
Arts Counctl England				384,494	377,544
Cheltenham Borough Council				148,800	148,800
Culture Recovery Fund				832,000
				1,365,294	526,344
Sponsorship, legacies and other income				68,245	63,149
				1,433,539	589,493
Restarted'tneorne fandr —grants and donattont
~on	Spnnstt~bt		Xnfarctrcr
Sir Ian McKegan	McKeUan	Bursaries			57,447
Investec	Project Zebra				10,000
Chades Irving Trust	Christmas	Studio Shosv income			5,000
Wentworth Court	Dementia	Protect			4,000
Everyman Theatre Association	Summer School				1,000
Everyman Theatre Aerostation	We Are AU		Stars Project		1,000
MrJohn Baker	Half Project				1,000
Nanonal Star CoUege	Star Space	Protect			1,000
Others less than $600				3,772	3,811
				3,772	84,258
Itettrr eiedgeneralfandr
Cheltenham Borough Council —rent 8r insurance				46/50	46253
				50,022	130,511
Total donations and legacies				1,483,561	720,004

2.	INCOME - continued
						2021	2020
	h) Othet Trading	Activities (group)
	Unnrtn'cted generalfunds
	Bar and catedng activities					81,727	595,766
						81,727	595,766
	c) Investment income		(group)
	Unnstn'cted generatfiinds
	Interest on investments					13,972	29,086
	d) Investment income		(charity)
	Unn'stri ctedgeneral funds
	Interest on investments					13,972	29,086
	Rent and service contrkutions			from trading subsidtanes		33,420	32,448
	Iytvidends from ttading	subsidiaries				14,710	110,552
						62,102	172,086
	INCOME FROM CHARITABLE ACTIVITIES
	Unn stn eyed generalfundt —gco		up	and charity
	Income from concerts	and	stage performances:
	admisston charges	and	pmgrammes			350,559	4,754,239
	Educauon and Commuruty		Programme		income	32,214	134,971
						382,773	4,889,210
4.	OTHER INCOME
	Unnstncted generalfundc	—group
	Production. tax credits					16,630	74,419
	Other Government grants					579,123	26,685
						595,753	101,104
	Unrestncted generatfirnds	- shanty
	Other Government grants					480,037	19,014
	EXPENDITURE ON RAISING FUNDS
	Unrestn'cted gerceralfunds	-grouP
	Theatre —support costs (note			'7)
	Bar and catering					330,787	533,840
						330,787	533,840
	Unrestncted general fundc	- chan'0
	Theatre —support costs (note			7)

The chatity undert	akes direct c	hantable activiti	es only.
			Concetts	Education &
			And Stage Performances	Community Programme	2021 Total	2020 Total
Direct produciion	costs		291,067	17,037	308,104	3,178,466
Backstage and other production		costs	807,419		807,419	400,402
production/activity	advertising	and markethrg	173,148		173,148	447,416
Boxoffice and ftont ofhouse			122,302		122,302	219,440
Depreciation/loss	on ihsposal	ofassets	202,466	41,4G9	243,935	231,054
Central premises	costs		175,062	35,856	210,918	314,270
Support costs (note 7)			619,894	175,113	795,007	766,987
			2,391,358	269,475	2,660,833	5,558,035

the two chantable activities use ofresources.	undertaken (see not	e 8). Support costs are allocate
		Theatre
		Operation (inc
		Education)
Support costs
General office		612,393
Finance office		106,359
Informadon technology		47,946
External audit		6,913
Legal and other professional	fees	21,396
		795,007

This table	shows	the cost ofthe two main charitable	activities	and the sources	of revenue	cbrectly to support
those activities.
			Concetts	Education &
		and Stage		Community	2021	2020
		Performances		Ptogramme	Total	Total
Costs			2,391,358	2G9,475	2,660,833	5,558,035
Admission	charges		350,559	32,214	382,773	4,889,210
Net cost funded		from other income	2,040,799	237,261	2,278,060	668,825

ANALYSIS OF STAFF COSTS	2021	2020
Salaries and wages	1,683,934	2,078,096
Soctal security costs	104,437	126,161
Pension costs	63,737	75,081
	1,852,048	2,279338

						2021	2020
						Numb et	Number
			Full-time	Part-time	Casual	Total	Total
Bar and catering					20	26	31
Concerts and stage performance
(House stag			16	19	74	109	116
Education and Commmuty		Programme	5	1	3	9	9
Fundratsing				1		1	1
			26		97	145	157
MOVEMENT	IN TOTAL FUNDS		FORTHE	YEAR
This is stated after charging/(credithrgi			the following				2020
Auditor's remuneration					10,686		10,180
Pension contributions							75,081
Depreciation of	tangible Sxed assets
restricted	funds			120,759		120,758
unrestncted funds				156,124		138,802
					276,883		259,560

TANGIBLE FIXEDASSETS—GROUP
			Short
			Leasehold
	Motor	Plant &	Property
	VehiclesEquipment		Improvements	Total
Cost or Valuation
At 1April 2020	9,750	1,089,177	3,435,996	4,534,923
Addiuons		14,598		14,598
Disposals
At 31March 2021	9,750	1,103,775	3,435,996	4,549,521
Depreciation
At 1Apnl 2020	9,750	792,742	1,779,372	2,581,864
Charge for the year		74,389	202,494	276,883
Disposals
At 31March 2021	9,750	867,131	1,981,866	2,858,747
Net BookValue
At 31March 2021		236,644	1,454,130	1,690,774
At 31March 2020		296,435	1,656,624	1,953,059
TANGIBLE FIXEDASSETS —CHARITY
			Short
			Leasehold
	Motot	Plant &	Property
	VehiclesEquipment		Imptovements	Total
Cost otValuation
At 1April 2020	9,750	722,353	3,435,996	4,168,099
Additions		12,735	—	12,735
Disposals
At 31March 2021	9,750	735,088	3,435,996	4,180,834
Depreciadon
At 1 April 2020	9,750	528,802	1,779,372	2,317,924
Charge for the year		41,441	202,494	243,935
Disposals
At 31March 2021	9,750	570,243	1,981,866	2,561,859
Net BookValue
At 31March 2021		164,845	1,454,130	1,618,975
At 31March 2020		193,551	1,656,624	1,850,175

	Short leasehold	Short leasehold	property
				Cost or	Accumulated	Net Book
	Group and charity			Revaluation	Deprecation	Value
	Addiuons	2009		101,474	(84,364)	17,110
	Additions	2010		68,763	(45,363)	23,400
	Additions	2011		29,256	(29/56)
	Additions	2012		2,390,000	(1,487,456)	902,544
	Additions	2013		95,317	(43,528)	51,789
	Additions	2014		14,0GO	(9,605)	4,455
	A.dditions	2016		114,582	(35,892)	78,690
	Adchuons	2017		22,801	(4,818)	17,983
	Additions	2018		22,804	(5,087)	17,717
	Additions	2019		68,563	(10,252)	58,311
	Additions	2020		57,149	(5,644)	51,505
	Revaluation:—
	—Phase 2:		Ventdation	337,274	(163,611)	173,6G3
	—Phase 3B:		Refurbishment	113,953	(56,990)	56,963
				3,435,996	(1,981,866)	1,454,130
13.	INVESTMENTS —CHARITY
						Subsidiaty
					undertakings


DEBTORS				Group		Charity
			2021	2020	2021	2020
Trade debtors			11,091	72,307	11,091	47,023
A.mount owed by subsidiary		companies			76,351	171,102
Other debtors			161,504	119,302	156,724	114,995
Prepayments	and accrued mcome		371,656	333,852	246,794	169,138
			544,251	525,461	490,960	502,258

			Group		Charity
		2021	2020	2021	2020
Loan		43,688	14,768	43,688	14,768
Trade creditors		62,332	193,873	58,535	182,446
Taxadon and rectal security		25,749	32,463	23,420	29,165
Other creditors		26,980	59,263	21,512	31,984
Accruals and deferred	income	2,121,224	1,783,5GB	1,984,444	1,625,930
Pension contdbutions	payable	6,281	7,171	6,281	7,171
		2,286354	2,091,106	2,137,880	1,891,464

Loans (Cheltenham Botough Council and CBILS)
	2021
Due 1 —2 years	185,964
Due 2 —3years	186,597
Due 3 —5 years	375,197
Due in more than 5 yeats	392,813
	1,140,571
Deferred income
	1,140,571

ANALY	SIS OF GROUP N	ET ASSETSBETW	EEN FUNDS
		Other	Restricted	Resmcted
		Restricted	Capital	Income	Unrestricted
		Funds	Fund	Fund	Funds	Total
Tangtble	Sxed assets		691,422		999,322	1,690,774
Cmxent	assets	73,573			4,3G9,941	4,443,514
Current	liabiTines				(2,286,254)	(2,286,254)
Long term habilities					(1,140,571)	(1,140,571)
		73,573	691,422		1,942,468	2,707,463

				Total
		Restricted Unrestricted		Funds
		Funds	Funds	2020
INCOME FROM
Donations and legacies		130,511	589493	720,004
Other trading acuvities			595,766	595,766
Investment mcome			29,086	29,086
		130,511	1,214,345	1/44,856
Income from Charitable	Activides		4,889,210	4,889,210
Other income			101,104	101,104
Total		130,511	6,204,659	6,335,170
EXPENDITURE ON
Ratsmg funds			533,840	533,840
Charitable acuviues		197,357	5,361,694	5,559,051
Total		197,357	5,895,554	6,092,891
NET INCOME/(EXPENDITURE)
BEFORETRANSFERS		(66,84$	309,125	242,279
Transfers between funds
NET MOVEMENT OF FUNDS IN YEAR		(66,846)	309,125	242,279
RECONCILIATION	OF FUNDS
Balance btought forward at 1Aptil 2019		952,828	1,764,565	2,717,393
Balance carried forward at 31Match 2020		885,982	2,073,690	2,959,672

				Total
		Restxicted	Unrestricted	Funds
		Funds	Funds	2020
INCOME FROM
Donations and Iegactes		130,511	589,493	720,004
Investment mcome			172,086	172,086
		130,511	761,579	892,090
Income from Charitable	Activities		4,889,210	4,889,210
Other income			19,014	19,014
Total		130,511	5,669,803	5,800,514
EXPENDITURE ON
Rang funds
Charitable activities		197,357	5,360,678	5,558,035
Total		197,357	5,360,678	5,558,035
NET INCOME/(EXPENDITURE)
BEFORETRANSFERS		(66,846)	309,125	242,279
Transfers between funds
NET MOVEMENT OF FUNDS IN YEAR		(66,846)	309,125	242,279
RECONCILIATION	OF FUNDS
Balance brought forward at 1April 2019		952,828	1,764,565	2,717,393
Balance carried forward at31Match 2020		885,982	2,073,690	2,959,672

21.	ANALYSIS OF CHARITABLE	ANALYSIS OF CHARITABLE	ANALYSIS OF CHARITABLE	ANALYSIS OF CHARITABLE	FUNDS -GROUP	FUNDS -GROUP
	a)	Analysis ofUnrestricted		Fund		Movements
						As at 1				As at 31
					Apnl 2020		Income	Expenditme	Transfers	March 2021
		General fund Designated Funds				546,428	2,507,764	(2,638,986)	44,879	460,085
		Continuity ofOperations		and
		Excepdonal Circumstances		fund		950,000				950,000
		MaJor maintenance fund				150,000				150,000
		Community Projects fund				70,000			40,000	110,000
		Refurbtshment fund In-house Producnons				186,395 170,867			(88,889)	186,395 81,978
						2,073,690	2,507,764	(2,638,986)	(4,010)	1,938,458
	b)	Analysis ofRestticted Fund			Movements
		Capital fund (note 24)				812,181		(120,759)		691,422
		Rent Bt Insurance fund					46,250	(46,250)
		Education Bt Community		fund		22,159	3,772	(300)	4,010	29,641
		McKellan Bursaries				51,642		(3,700)		47,942
						885,982	50,022	(171,009)	4,010	769,005
22.	COMPARATIVES FORTHE ANALYSIS OF CHARITABLE FUNDS -GROUP
	a)	Analysis ofUnrestricted		Fund		Movements
						As at 1				As at 31
					April 2019		Income Expenditure		Transfers	Match 2020
						A
		General fund				264,565	5,918,448	(5,636,585)		546,428
		Designated Funds
		Contmuity ofOperations		and
		Exceptronal Circumstances		fund		400,000			550,000	950,000
		Ma)or maintenance fund				300,000			(150,000)	150,000
		Community Projects fund				100,000	43,250	(47,497)	(25,753)	70,000
		Refurbishment fund				250,000		(27,135)	(36,470)	186,395
		In-house Productions				150,000	242,961	(184,317)	(37,777)	170,867
		Community Work Capital		fund		300,000			(300,000)
						1,764,565	6,204,659	(5,895,534)		2,073,690
	b)	Analysis ofRestricted Fund			Movements
		Capital fund (note 24)				932,939		(120,758)		812,181
		Rent &Insurance fund					46,253	(46,253)
		Educadon Br Community	fund			19,506	25,811	(23,158)		22,159
		McKellan Bursaries					57,447	(5,805)		51,642
		Star College Space Project				383	1,000	(1,383)
						952,828	130,511	(197,357)		885,982

RESTRICT	ED	CAPITAL FU	ND
				Group &Charity
				2021	2020
Balance brought		forward		812,181	932,939
Depreciadon	charge on revalued		balance, transferred
in year from	Income Fund			(120,759)	(120,758)
Grant receipt
				691,422	812,181

25.	CAPITAL COMMITMFNTS	CAPITAL COMMITMFNTS
				2021	2020
	Capital commiuuents
26,	OTHER FINANCIAL COMlvIITMFNTS
				2021	2020
	Annual commitments —laud and buildings	under non-cancellable operatmg expiring m over dve years	leases:	72,750	72,750