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2022-03-31-accounts

Company Registration Number: 650220 Registered Charity Number: 234229

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GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED (a company limited by guarantee)

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REPORTS AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

ANDORRAN LIMITED CHARTERED ACCOUNTANTS & STATUTORY AUDITOR 6 Manot Park Business Centre, Mackenzie Way, Cheltenham, Glos GL51 9TX

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GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED

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REPORTS AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

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||||||||| |---|---|---|---|---|---|---|---| |CONTENTS|Page| ||| |List|of officers|and|advisers|1| ||| |Report of the Trustees|2-8|©| |,| |9-11| |Repott|of the|Independent Auditor||||| |,| |Consolidated|Statement|of Financial Activities|12| |Chatity Statement of Financial Activities|13||| |,||| |Consolidated|and|Charity|Statements|of Financial Position|14| |Consolidated Cash Flow Statement|'|||15-16|,| |,| |Notes|to|the|Financial Statements|;|17|-|32|

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GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED OFFICERS, COMMITTEE MEMBERS AND ADVISERS OO

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DIRECTORS/TRUSTEES CRThomas—Chair
ZAhmed
. J Blackburn
S Blanchfield (appointed 10August2022)
MBorkowski
WEAEdwards (appointed 15November 2021)
' M Hamlin
CF Kong
G Milner
GEC Woodcock
JKWorkman
J Cantwell (retired26August 2021)
TMDey (retired 6 October 2021)
MDhanak (retited 26August August 2021)
RH Hertford (tetited 6 October 2021)
RJ Nicholls (retired26August 2021)
DJ
Russell (retited 26August2021)
COMPANYSECRETARY -J KWorkman .
CHIEFEXECUTIVE MGoucher
ADDRESS&REGISTEREDOFFICE = EverymanTheatre
Regent Street
' Cheltenham
Gloucestershire
GL50 1HQ
AUDITOR AndortanLimited
CharteredAccountants& StatutoryAuditor
6 Manor ParkBusiness Centre
MackenzieWay
Cheltenham
Gloucestershire
GL51 9TX
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SOLICITORS BPE
StJamesHouse ,
StJames Square
. Cheltenham ,
Gloucestershire
GL503PR

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GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED. REPORT OF THE TRUSTEES "FOR THE YEAR ENDED 31 MARCH 2022 TT The trustees have pleasure in presenting theit report and consolidated financial statements for the year ended 31 March _ 2022, which ate also prepated to meet the requirements for.a directors’ report and accounts for Companies Act purposes.

The financial statements comply with the Charities Act 2011, the Companies Act 2006 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

STRUCTURE, GOVERNANCE AND MANAGEMENT

Reference and Administrative Details ‘The directors of the charitable company (the charity) are its trustees for the purposes of charity law and throughout this report and the financial statements are collectively teferred to as the trustees serving during the year. Names of trustees and of the charity’s advisers ate given on page 1 of these financial statements.

"Governing Document The company, which is limited by guarantee and a registered charity, is governed by its Memorandum and Articles of Association dated 22 February 1960 as altered by Special Resolutions passed on 19 March 1964 and 24 September 2008 and a special resolution on 26 August 2021,

Appointinent of Trustees

Trustees may be appointed by the charity by ordinary resolution ot by resolution of the Trustees. Trustees serve for a period of three years at which point they may be re-elected, to a maximum of nine consecutive years.

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Trustee Induction and Training New trustees undergo orientation to brief them on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision making processes, the business plan and the recent financial performance of the charity. They also undergo a tour of the Theatre and have an opportunity to meet the senior management team and other key staff to understand the mechanics of how the charity is run.

Organisation The day to day running of the Theatre is undertaken by the Chief Executive who is supported by an experienced team of departmental managers and staff. The Board of trustees, which curently numbers 11, administers the charity, They include members with a wide range of professional expertise, experience and local knowledge. The Board and the committees responsible for finance and catering meet bi-monthly.

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In August 2021, new Articles of Association were adopted to teftesh the structure of the Board. Two new committees wete cteated, with Board members, staff and external advisors. One of the committees focuses on strategy and delivering against the Arts Council’s Outcomes and Investment Principles, and the second focuses on development and fund raising, =

The Chief Executive has’ delegated authority, within terms authorised by the trustees, fot operational matters including finance, employment and programme choice.

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Key Management Personnel Remuneration

The Trustees consider the Boatd of Trustees, the Chief Executive and the senior management team as comprising the key management petsonnel. All Trustees give of their time frecly and no Trustee remuneration was paid in the year. Details of Trustee expenses and telated party transactions are disclosed in note 25 to the financial statements. The pay of the Chief Executive and senior management team is reviewed annually. The review considers a number of factors including the financial position of the Theatre, the genetal inflation tate and pay tates for similar positions in other organisations.

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GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED

' REPORT OF THE TRUSTEES- continued FOR THE YEAR ENDED 31 MARCH 2022

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STRUCTURE, GOVERNANCE AND MANAGEMENT -} continued

Related Patties The charity has three wholly owned subsidiary companies: The Gloucestershire Everyman Theatre Catering Company Limited, whose object is to provide bar and catering facilities at the Everyman Theatre in Cheltenham; The Gloucestershire Everyman Theatre Productions Company Limited, whose object is to produce the pantomime and other shows at the Everyman Theatre in Cheltenham; and ‘TBP On Stage Ltd, which did not trade in the year. The subsidiaty companies’ results have been included in the consolidated financial statements as required 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 (FRS102) (effective 1 January 2019).

The Arts Council England and Cheltenham Borough Council provide core funding for the Theatre and its education and community activities, The Everyman Theatre Cheltenham Development Trust was established to raise funds for the Everyman Theatre and owns the Priority Access membership Scheme, which was created in June 2022, The Development Trust is itself a registered charity and its trustees are drawn from the trustees of the Everyman Theatre.

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Risk Management

The Trustees have a tisk management strategy which comprises:

For the majority of the year to March 2022, the most significant risk facing the business was COVID-19 and its impact on income, staff, audiences, and available product. Since the latter part of the financial year, the key tisks have been the economic uncertainty and inflationary pressures stemming from the Russian invasion of Uktaine and the political situation in the UK. More generally, the key risks faced by the business are a reduction in main house profits due to economic factors or changing tastes, a reduction in grant income, physical disasters such as fire ot loss of power and regulatory compliance.

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GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED _ REPORT OF THE TRUSTEES- continued

FOR THE YEAR ENDED 31 MARCH 2022 ; nn

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OBJECTIVES AND ACTIVITIES

The ptincipal objective of the charity according to the Memorandum of Association is to promote, maintain, improve and advance education, patticularly by the production of plays of an educational character and the encouragement of the Arts, including the arts of drama, mime, dancing, singing, music and poetty, and to formulate, prepare and establish appropriate schemes,

The charity sets out to achieve these objectives by the running of the Gloucestershire Everyman Theatre in Cheltenham and by the presentation of touring productions and in-house productions,

_ The charity has the general aim of contributing to the quality of[ life] of the people of Cheltenham and Gloucestershire by expanding their horizons through the provision of exciting, challenging and accessible professional and community arts events.

The main objectives for the year continue to be the promotion and fostering of artistic knowledge and the appreciation of the Arts by the provision of facilities for the education and entertainment of the public in the fields of art, craft, music and drama, with specific focus on the youth of our county.

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The strategies employed to achieve the charity’s objectives are to: . ¢ offer opportunities for a broad range of people to get involved in arts activity exploring their own creative powets; e provide facilities and advice for amateur and professional artists/writers to develop their artistic skills; ® encourage the development of diversity of cultures throughout the activities of the Theatre; and ¢ present a broad range of arts work. The major areas of activity are presentation of professional stage performances and educational theatre and arts programmes. ,

PUBLIC BENEFIT

The challenges faced by the charity from the COVID-19 pandemic have been significant. The third national lockdown was in place when the financial year began and did not end until mid-May 2021 when petformances wete possible only on a socially distanced basis and there was little touring product available. The Everyman was one of the first venues to re-open and Priscilla Queen of The Desert testatted its national tour at the theatre with two sell-out weeks of socially distanced performances. The theatre finally managed to open to full capacity audiences on 20th July, with The Play That Goes Wrong: high staff retention due to grant funding meant we could step back up immediately. The Everyman ‘presented the ptemiere of Matthew Boutne’s The Midnight Hour which brought audiences from all over the countty, and the following week staged The Dresset which it co-produced with Theatre Royal Bath. Six the Musical has had two sell out weeks and Blood Brothets also sold out.

We managed to get through our pantomime season of Jack & The Beanstalk without losing a single show: there were Covid cases amongst cast and crew but we kept juggling to keep the show on. The impact and ongoing threat of cast’ and crew suffering Covid continued into the Spring, with the cancellation of one visiting show and the loss of two performances of "Haitsptay" at short notice. Nonetheless, the losses were fewer than had been budgeted, and we were still able to enjoy Private Lives, Magic Goes Wrong, Johannes Radebe, and Chicago — which provided the Theatre with its highest ever gtoss sales for a single week.

Away from the Theatre, the Everyman co-produced an adaptation of Michael Motpurgo’sThe Mozatt Question, with The Barn Theatre in Cirencester. This opened at The Barn in 2022.

Access was offered to membets of the public in wheelchairs and thete is an induction loop for the deaf and hard of heating, Although fewer in number than pre-Covid, regular signed and audio-described performances, touch touts and “relaxed” performances were reintroduced in the yeat.

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GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED _ REPORT OF THE TRUSTEES- continued FOR THE YEAR ENDED 31 MARCH 2022

EDUCATION AND COMMUNITY PROGRAMME

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The easing of COVID-19 restrictions for Youth Theatre groups meant that with great relief, face-to-face sessions could recommence in April 2021 —engagement had dwindled as young people had tired of the Zoom format. Restrictions for the choirs lasted longer and live sessions did not reconvene until September 2021 when in-person sessions of out dance groups and community knitting group also restarted. Workshops and community activities continued to be challenged by COVID-19, with cancellations occasionally required due to outbreaks,

September saw a residency for Warts and All Theatre Company in the Studio Theatre, in which the company worked with out Practitioners’ Lab. The Actors’ Lab and Writers’ Lab workshops continued, either via Zoom of in person, though membership to both of these groups dipped during the pandemic, .

In the summer we produced Zeb and Cat Save the World: a small-scale touring show with an ecological theme, which played in ten Gloucestershire libraries. The show was also filmed and made available to library websites. In the autumn, we produced Mrs Lowry and Son in partnership with AIR in G, which was well received at its regional premiere in the Everyman’s Studio Theatre. Also in the Studio, we collaborated with Box Tale Soup on two Christmas shows: Hansel and Gretel and A Christmas Carol. As in previous years, the children’s show was livestreamed to five children’s hospital wards around the country.

We cteated three Summer Schools for young people: Disney’s Aladdin and Fame were our musical theatre offerings, and our collaboration with Cheltenham Ladies’ College on a Shakespeare Summer School was delivered at the Parabola Arts Centre, Our Arts Awatds support was offered to young people remotely, and up to 50 participants engaged with this, The collaboration between the Everyman and Stagedoor Learning (BTEC provider) continued, and the BTEC students performed Brass on the main stage in May and the[‘performance][was][filmed][and][streamed,][due][to][audience] restrictions, ,

Out pattnership with GARAS (Gloucestershire Association for Refugees and Asylum Seekers) and CWR (Cheltenham Welcomes Refugees) continued during this petiod. Out Refugee Project, which complemented the Good Chance walk of Little Amal from Syria to Manchester, successfully delivered workshops, talks, presentations and the installation of our own Displaced Child sculpture in Gloucester Cathedral

, ACHIEVEMENTS AND PERFORMANCE

By staging high quality and vatied performances, and creating a wide-reaching Education and Community programme, the Theatre met its fundamental targets in terms of quality and public involvement.

The numbet ofpetformances presented in the Main Auditorium and Studio was 487 (2020/21: 36) with live attendances totalling 280,626 (2020/21: 10,876 plus online attendances of 21,760), Attendances wete drawn 84% (2020/21: 84%) from Gloucestetshite and 16% (2020/21: 16%) from outside the county.

When Education and Community courses, ptojects and performances ate added, the total attendances for, the year were 294,028 (2020/21; 13,555).

Sponsorship and charitable donations remain an important part of the Theatre’s income. The Everyman is particularly grateful to its many sponsors, in particular the Arts Council England and Cheltenham Borough Council for their continued support. During the year and following the retirement of its Chair, the decision was made by the Everyman "Theatre Association to close its activities, The Theatte is grateful to the Everyman Theatre Association for the moral and financial suppott it provided since its inception in 1959. A new membership scheme was created in the post-year end petiod, called the Priority Access Membership scheme, which will also support the Theatre and will be run by the Everyman Theatre Cheltenham Development Trust. ,

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GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED REPORT OF THE TRUSTEES - continued FOR THE YEAR ENDED 31 MARCH 2022 nn

FINANCIAL REVIEW - .

The consolidated results of the charity and its operating subsidiaries for the year are set out on page 12.

COVID-19 restrictions put the theatre under enormous financial pressure. The third national lockdown which began in the previous year meant the theatre was closed to the public until mid-May when it was permitted to reopen at half capacity, prior to reopening fully in mid-July. The rigorous cost cutting and furloughing of employees that had commenced in the previous year continued, but additional funding was required and the theatre was grateful to receive , a grant of £401,874 from the second round of the Culture Recovery Fund, for the period April to June 2021. The lack of touring product and ongoing threat of losing performances to COVID-19 outbreaks in the cast and crew .. kept the theatre under financial pressure all year. However, four main factors helped to produce a surplus on unrestricted funds for the yeat of £101,563 (2020/21: loss of £252,209): the successful programming of a number of large and popular shows, the benefit from the reduced rate of VAT for the hospitality industry, the loss of fewer performances to COVID-19 thah feared and experienced elsewhere, and the continued close monitoring of expenditure.

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The petiod covered by the current Arts Council England grant has been extended to March 2023, with an announcement on funding for 2023-26 due imminently. An annual funding agreement with Cheltenham Borough Council is in place.

Investment Powers and Policy

The trustees have wide investment powers and may exercise all powers of the charity subject to the charity’s. charitable objective stated above,

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Reserves Policy

The Trustees strive to sttike a balance between maintaining reserves to support the continuing opetations of the Theatre, and also to maintain the Grade II listed building within which the charity operates.

The outbreak of COVID-19 required a review of the reserves policy, and in Match 2020 funds wete redirected from longer term aspirations and less essential plans: £300k set aside towatds a new Studio Theatre; £150k of the major maintenance fund; £200k of the refurbishment fund; £188k of the in-house productions & tours fund; and £26k of community projects fund were transferred to the continuity fund, to create a contingency to help the theatre withstand the turbulence being caused by Covid. It is an aspiration to rebuild the depleted designated reserves to their 2018/19 level over the next five years.

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In the yeat to March 2022, the write down of £63,000of investments in the co-productions of The Dresser and The Mozatt Question was transfetted to the designated reserve for in-house productions & touts. Bequests of £14,000 from Rosematy Parker and £1,000 from Colin Bailey were transferred to the designated teserve fot community projects. The surplus on unrestricted funds generated in the year was sufficient to support a transfer of £100,000 to the in-house productions & tour funds to start to replenish this reserve.

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GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED REPORT OF THE TRUSTEES- continued FOR THE YEAR ENDED 31 MARCH 2022

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FINANCIAL REVIEW- continued

Trading subsidiaries , The Gloucestershire Everyman Theatre Catering Company Limited was hit by the reduced visitor numbers to the theatre resulting from the COVID-19 restrictions on operating practices, it also experienced the recruitment issues that were widespread in the industry. Nonetheless, it generated a profit for the year and donated £13,698 to the theatre -.a significant turnaround from the exceptional prior yeat when the theatre donated £183,394 to the catering company due to the Covid crises, as the Catering subsidiary had a long history of donating profit as well as ptoviding rental income, a benefit to VAT recovery, and a valuable service to patrons. ; During the year, the Gloucestershire Everyman ‘Theatre Productions Company Ltd ‘ptoduced Jack & the Beanstalk in the Main. Auditorium, and Mrs Lowry and Son in the Studio Theatre. The company was able to donate ,£57,060 (2020/21: £14,710) to the Theatre, passing on the benefit of the Theatre Tax Credit scheme. The subsidiary TBP On Stage Ltd, which had been created to produce a tour that was cancelled due to Covid, did not trade in the year. In 2020/21, the Theatre had to meet the £88,889 of costs incurred ftom the cancelled production.

PLANS FOR FUTURE PERIODS

The severity’ of the events in the last 2 years and how it has affected the operations of the organisation serves as a reminder of how important the existence of live theatre and the atts is in our society and local community. The major focus continues to be restoring as quickly as possible the distinctive, high-quality character in the Evetyman’s programme, attracting strong visiting productions and producing high-profile work in-house and for touring.

To address the risk of gaps in the schedule from a lack of available product and the tisk of reduced audience numbers due to inflationary pressures, regular reviews of the business will continue to take place to ensure any necessary changes ate implemented quickly.

In conclusion the Board would like to express its appreciation to the Theatre’s Chief Executive, Mark Goucher, the management team and_all the staff, for their commitment and resilience which made it possible to respond quickly to the ever-changing situation in 2021/22. .

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TRUSTEES’ RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS

_ The purpose of this statement is to distinguish the trustees’ responsibilities in relation to financial statements and accounting records from those of the auditors as stated in their report.

Charity and company law requires the trustees to prepate financial statements for each financial period which give a true and fait view of the state of affairs and of the incoming resources and application of resources of the charity for that period. In preparing those financial statements the trustees are required to:

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The trustees are also responsible for keeping proper accounting tecotds which disclose with reasonable accuracy at any “time the financial position of the charity and to enable them to ensure that the financial statements comply with relevant legislation. The trustees are also responsible for safeguarding the assets of the charity and hence for taking teasonable steps for the prevention and detection of fraud and other irregularities. ©

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: STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED

REPORT OF THE TRUSTEES- continued

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FOR THE YEAR ENDED 31 MARCH 2022

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So far as the trustees ate awate, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the charity’s auditors are unawate, and each trustee has taken all the steps that he/she ought to have taken as a trustee in order to make himself/herself aware of any relevant audit information and to establish that the charity’s auditors are aware of that information.

AUDITORS

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Andorran Limited has been reappointed for a three-year term, until the audit for the year to 31 March 2024.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small entities.

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ON BEHALF OF THE B
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Trustee
CLIVE R THOMAS ;
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Date: 31 October 2022

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_ REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED ee Opinion .

Opinion . We have audited the financial statements of Gloucestershire Everyman Theatre Company Limited (the ‘charitable company’) for the year ended 31 March 2021, which comprise the Consolidated Statement of Financial Activities, the Consolidated and Charity Statements of Financial Position, the Consolidated Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their prepatation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). ; ) In our opinion the financial statements: : - give a true and fair view of the state of the group’s and the chatitable company's affairs as at 31 Match 2020 and of the group’s incoming resources and application of resources, including its income and expenditure, for the year then ended; , - have been properly prepared in accordance with United Kingdom Genetally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006. . , Basis for opinion We conducted out audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Out responsibilities under those standatds ate further described in the Auditors tesponsibilities for the audit of the — ; financial statements section of our report, We are independent of the charitable company in accordance with the ethical - requirements that ate relevant to out audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion, .

Conclusions relating to Going Concern ; We have nothing to report in respect of the following matters to which the ISAs (UK) require us to report to you where: ros the Trustees’ use of the going concen basis of accounting in the preparation of the financial statements is not appropriate; or - the Trustees have not disclosed in the financial statements any identified material, uncertainties that may cast significant doubt about the Theatre’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months ftom the date when the financial statements were authorised for issue.

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Other information The Trustees ate responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our Report of the Independent Auditor thereon.

Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon, ,

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether. the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appeats to be materially misstated. If, based on the work we have. performed, we conclude that theré is a material misstatement of this other information, we are tequired to report that fact. We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006 ot In our opinion, based on the work undertaken in the course of the audit: - the information given in the Report of the Trustees for the financial year for which the financial. statements are prepared is consistent with the financial statements; and - the Report of the Trustees has been prepared in accordance with applicable legal requirements. . Mattets on which we are requited to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. .

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REPORT OF THE INDEPENDENT AUDITOR- continued TO THE MEMBERS OF . GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED a

Matters on which we are required to report by exception We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to tepott to you if, in our opinion: - adequate accounting tecords have not been kept of returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting tecords and returns; or - cettain disclosures of trustees’ remuneration specifiedby law are not made; of - we have not teceived all the information and explanations we require for our audit; ot - the ‘Trustees were not entitled to take advantage of the small companies’ exemption from the requirement to ptepate a Strategic Report or in preparing the Report of the Trustees,

Responsibilities of trustees As explained mote fully in the Statement of Trustees Responsibilities, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessaty to enable the pteparation of financial statements that ate free from material misstatement, whether due to fraud of error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the chatitable company ot to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole ate free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditor that includes “our opinion, Reasonable assurance is a high level of assurance but is not a guatantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can atise from fraud ot etrot and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances ofnon-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect matetial misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, our procedures included the following:

We assessed the susceptibility of the charitable company's financial statements to material misstatement and considered how fraud might occur. The audit procedures performed included, but were not limited to:

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GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED I

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REPORT OF THE INDEPENDENT AUDITOR[-][continued] TO THE MEMBERS OF ;

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In addition, we also considered other non financial laws relevant to the charitable company, These do not necessarily have a direct influence on the financial statements but might affect the charitable company's ability to operate.

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A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.ftc,org.uk/auditorstesponsibilities, This description forms part of our Report of the Independent Auditor. .

Use of our report . This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, Our audit work has been undertaken so that we might state to the charitable company's members those matters we ate required to state to them in an auditor's report and for no other purpose, To the fullest extent petmitted by law, we do not accept or. assume responsibility to anyone other than the charitable company and the chatitable company's members as.a body, for out audit work, for this report, or for the opinions we have formed.

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ROGER DOWNES FCA (Senior Statutory Auditor) 6 Manor Park Business Centre ANDORRAN LIMITED , Mackenzie Way Chartered Accountants and Statutory Auditor Cheltenham Gloucestershire

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GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) .

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FOR THE YEAR ENDED 31 MARCH 2022

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Total Total
RestrictedUnrestricted ‘Funds Funds
Funds Funds 2022 2021
£ £ £ £
INCOME FROM
Donations and legacies (note 2a)
Other tradingactivities (note 2b)
Investmentincome (note 2c)		 ° 94,166
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-		 984,741
546,672
16,514		 1,078,907
546,672
16,514		 .
1,483,561
81,727
13,972
94,166 1,547,927 1,642,093 1,579,260
Income from Charitable Activities (note 3)
Otherincome (note 4)		 -
-		 3,333,578
69,723		 3,333,578
69,723		 382,773
595,753
Total 94,166 4,951,228 5,045,394 2,557,786
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EXPENDITUREON
Raisingfunds (note 5)
Charitable activities		 -
190,622		 502,017
4,251,192		 502,017
4,441,814		 330,787
2,479,208
Total oe 190,622 4,753,209 4,943,831 2,809,995
NETINCOME/(EXPENDITURE)
BEFORETRANSFERS		 (96,456) - .
198,019		 101,563 (252,209)
Transfers between funds (note 21) - - - se
NETMOVEMENTOFFUNDSINYEAR (96,456) 198,019 101,563 (252,209)
RECONCILIATION OFFUNDS
Balancebroughtforward at 1April2021		 769,005 1,938,458 2,707,463 2,959,672
Balance catriedforwardat31March2022 672,549 2,136,477 2,809,026 2,707,463
Analysis offunds (note 21):
Unrestricted generalfunds
Designatedfunds
Restricted capital funds
Resttictedincome funds		 . 606,104
1,530,373
570,281
102,268		 460,085
1,478,373
691,422
77,583		 ©
2,809,026 2,707,463

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The notes on pages 17 to 32formpart ofthesefinancial statements

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CHARITY STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2022

,

; . Total Total
RestrictedUnrestricted Funds Funds
Funds Funds 2022 2021
£ £ £ £
INCOME FROM
. Donations and legacies (note 2a)
Investmentincome (note 2d)		 94,166
-		 984,741
120,898		 1,078,907
120,898		 1,483,561
62,102		 -
. 94,166 1,105,639 1,199,805 1,545,663
Income from Charitable Activities (note 3) - 3,333,578 3,333,578 382,773
Otherincome - 7,487 7,487 480,037
Total 94,166 4,446,704 4,540,870 2,408,473
EXPENDITUREON
Raising funds (note 5)
Charitable activities (note 6)		 -
190,622		 -
4,248,534		 -
4,439,156		 -
2,660,833
Total , 190,622 4,248,534 4,439,156 2,660,833
NETINCOME/(EXPENDITURE)
BEFORETRANSFERS		 : (96,456) 198,170 . 101,714 (252,360)
Transfers between funds (note 21) - - - -
NETMOVEMENT OFFUNDS INYEAR(NOTE 10) (96,456) 198,170 101,714 (252,360)
RECONCILIATION OFFUNDS ; .
Balance brought forward at 1April April2021 769,005. 1,938,307 2,707,312 2,959,672
Balance carriedforward at31March March 2022 672,549 2,136,477 2,809,026 2,707,312
Analysis offunds:
Unrestrictedgeneral funds
Designated funds
Restricted capitalfunds
Restricted income funds		 mo 606,104
1,530,373
570,281
102,268		 459,934
1,478,373
691,422
77,583
2,809,026 2,707,312

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:

The notes on pages 17 to 32formpart ofthesefinancial statements

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, AS AT 31 MARCH 2022

,

,

GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED CONSOLIDATED AND CHARITY STATEMENTS OF FINANCIAL POSITION

,

AS ATAT 31 MARCHMARCH 2022 AS ATAT 31 MARCHMARCH 2022 AS ATAT 31 MARCHMARCH 2022 AS ATAT 31 MARCHMARCH 2022 AS ATAT 31 MARCHMARCH 2022 AS ATAT 31 MARCHMARCH 2022 AS ATAT 31 MARCHMARCH 2022
SS
' Group Charity
; : 2022 2021 2022 2021
; £ . £ £ £
FIXED ASSETS
'
Tangible assets (note 12)
Investments (note 13)
'		 1,461,824
-		 1,690,774
-		 1,410,430
4		 1,618,975
4
1,461,824 1,690,774 1,410,434 1,618,979
.
CURRENTASSETS
Stocks
Debtors (note 14)
Cash atbankand inhand		 13,814
526,280
4,627,338		 ' 12,486
544,251
3,886,777		 -
526,848
4,567;941		 -
490,960
3,875,824
. . ; 5,167,432 4,443,514 5,094,789 4,366,784
‘ .CURRENT LIABILITIES
Creditors:Amounts fallingduewithinoneyear		 (note 15) 2,851,416 2,286,254 2,727,383 2,137,880
NETCURRENTASSETS 2,316,016 2,157,260 2,367,406 2,228,904
_
LIABILITIES
Creditors; amounts fallingdue aftermore thanone		 oneyear (note 16) 968,814 1,140,571 968,814 1,140,571
NETASSETS (note 17) 2,809,026 2,707,463 2,809,026 2,707,312
FUNDSOFTHECHARITY (note 21) ,
Restricted funds
Capital funds
Other restricted funds		 570,281
102,268		 691,422
77,583		 570,281
102,268		 691,422
77,583
Totalrestricted funds 672,549 769,005 672,549 769,005
Unrestricted income funds:
General
Designated funds		 606,104
1,530,373		 460,085
1,478,373		 606,104
1,530,373		 459,934
1,478,373
TOTALCHARITYFUNDS 2,809,026 2,707,463 2,809,026 2,707,312
Approved by the trustegs on 31 October 2022 ,
C
omas
x		 .
LUV ' Trustee
G Milner
For and on behalfofthe trustees
Thenotesonpages 17 to32formpartofthesefinancialstatements. ,
“14- ;

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GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED

CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 MARCH 2022

nn

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|||||||| |---|---|---|---|---|---|---| |:|2022|«2021| |.| |:|&|£| |Cash flows|from|operating|activities|;| |Cash generated|from operating activities|715,513|166,223| |Interest paid|.|(15,003)|(13,972)| |Net cash from operating|activities|700,510|152,251| ||| |Cash|flows|from|investing|activities|,| |,|Purchase|of tangible|fixed|assets|(38,064)|(14,598)| |Interest|received|16,514|13,972| |_|[Taxation]|[teceived]|91,081|-| |Net cash from investing|activities|69,531|(626)| |Cash|flows|from financing|activities| |Loan repayments|in year|(29,480)|(28,341)| |CBIL’s|loan|-|850,000| |Net cash from financing|activities|(29,480)|_821,659| |Inctease/ (decrease)|in cash and|cash equivalents|740,561|973,284| |Cash and|cash|equivalents|at|the beginning of the year|3,886,777|2,913,493| |Cash and cash|equivalents|at the end of the year|a|4,627,338|3,886,777|

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|||||||||| |---|---|---|---|---|---|---|---|---| |GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED|,|.| |CONSOLIDATED|CASH FLOW STATEMENT|- NOTES| |FOR THE YEAR ENDED THE YEAR ENDED YEAR ENDED ENDED|31 MARCH MARCH|2022.| |a| |1.|RECONCILIATION OF INCOME TO CASH GENERATED FROM OPERATIONS| |2022|2021| |Net income|101,563|©|(252,209)| |Depteciation|chatges|251,236|276,883|.| |Finance|costs|15,003|13,573|-| |Finance income|(16,514)|(13,972)| |,|351,288|24,275| |Decrease/|(increase)|in|stocks|(1,328)|(462)| |Decrease/|(increase)|in|trade|and|other|debtors|17,971|(18,790)| |Increase/|(decrease)|in|trade|and|other|creditors|347,582|161,210| |Cash generated from operating|activities|715,513|166,233|

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FOR THE YEAR ENDED THE YEAR ENDED YEAR ENDED ENDED 31 MARCH MARCH 2022. a

|

  1. CASH AND CASH EQUIVALENTS The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

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|||||| |---|---|---|---|---| |Year|ended|31|March|2022| |31.3.22|1.4.21| |Cash and cash equivalents|"4,627,338|3,886,777| |.| |Yeat|ended|31.|March 2021.|.| |31.3.21|1.4.20|;| |Oo|£|£| |Cash and|cash equivalents|3,886,777|2,913,493|

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GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS . FOR THE YEAR ENDED 31 MARCH 2022 een 1 ACCOUNTING POLICIES

. , (a) Going Concern ; The key issue for going concern is the potentially detrimental effect on customer demand from the current _ economic uncertainty and inflationary pressures. The trustees have considered the impact of this on the Theatte’s current and future financial position. As at 31 March 2022, the Theatre holds untestticted general reserves of £606,104, designated teserves that can be drawn down, if necessaty, of £1,530,373, and an available cash balance of £2,728,368. . A detailed projection to March 2024 has been made and this supports the view of the trustees that the Theatre has sufficient unrestricted reserves and cash flow to continue as a going concern for a petiod of at least 12 months from the date on which these financial statements are approved. For this reason, the financial statements have been prepared on a going concern basis. (b) Basis of Accounting The financial statements have been prepared been prepared prepared in accordance with Accounting and Reporting by accordance with Accounting and Reporting by with Accounting and Reporting by Accounting and Reporting by Reporting by by Charities: Statement of Recommended Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK UK and Republic of Ireland (FRS102) (effective 1 January 2015) — — (Charities SORP (FRS102)), the Financial Reporting Reporting Standard applicable in the UK and UK and and Republic of Ireland Ireland (FRS102) and the Companies Act 2006. Act 2006. 2006. Gloucestershire Everyman Theatre Company Limited meets the definition of a public benefit entity under Everyman Theatre Company Limited meets the definition of a public benefit entity under Theatre Company Limited meets the definition of a public benefit entity under Company Limited meets the definition of a public benefit entity under Limited meets the definition of a public benefit entity under meets the definition of a public benefit entity under the definition of a public benefit entity under definition of a public benefit entity under of a public benefit entity under a public benefit entity under public benefit entity under benefit entity under entity under under ERS102. Assets and liabilities and liabilities liabilities are initially recognised initially recognised recognised at historical cost or transaction value unless otherwise historical cost or transaction value unless otherwise cost or transaction value unless otherwise or transaction value unless otherwise transaction value unless otherwise value unless otherwise unless otherwise otherwise stated in in the relevant accounting policy policy note(s). .

. (b) Basis of Accounting The financial statements have been prepared been prepared prepared in accordance with Accounting and Reporting by accordance with Accounting and Reporting by with Accounting and Reporting by Accounting and Reporting by Reporting by by Charities: Statement of Recommended Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK UK and Republic of Ireland (FRS102) (effective 1 January 2015) — — (Charities SORP (FRS102)), the Financial Reporting Reporting Standard applicable in the UK and UK and and Republic of Ireland Ireland (FRS102) and the Companies Act 2006. Act 2006. 2006.

Gloucestershire Everyman Theatre Company Limited meets the definition of a public benefit entity under Everyman Theatre Company Limited meets the definition of a public benefit entity under Theatre Company Limited meets the definition of a public benefit entity under Company Limited meets the definition of a public benefit entity under Limited meets the definition of a public benefit entity under meets the definition of a public benefit entity under the definition of a public benefit entity under definition of a public benefit entity under of a public benefit entity under a public benefit entity under public benefit entity under benefit entity under entity under under . ERS102. Assets and liabilities and liabilities liabilities are initially recognised initially recognised recognised at historical cost or transaction value unless otherwise historical cost or transaction value unless otherwise cost or transaction value unless otherwise or transaction value unless otherwise transaction value unless otherwise value unless otherwise unless otherwise otherwise stated in in the relevant accounting policy policy note(s).

(c) Group Financial Statements The financial statements consolidate the tesults of the charity and its three subsidiary companies, . Gloucestershire Everyman Theatre Catering Company Limited, The Gloucestershire Everyman Theatre | Productions Company Limited and TBP on Stage Limited, ona line-by-line basis. The financial statements ‘of TBP on Stage Limited are not audited. | . (d) Income ; . i) Donations, legacies and grants Donations, legactes and similar income . Donations, gifts and legacies represent amounts received during the year, together with any associated tax refund. Donation and legacy income is shown gtoss before deduction of fund-raising expenditute. Legacies are recognised when it is probable that they will be received and the amount of the legacy is known with reasonable certainty. | 7 , Grants Grants receivable for specific purposes ate credited to the Statement of Financial Activities in the yeat to . which they relate as soon as conditions for receipt have been met. immediatelyGrants for immediatein the Statementfinancial of Financialsupport Activities.or received against costs previously, incurred are recognised All capital grants received ate recognised in the Statement of Financial Activities and credited to a separate capital grants received ate recognised in the Statement of Financial Activities and credited to a separate grants received ate recognised in the Statement of Financial Activities and credited to a separate received ate recognised in the Statement of Financial Activities and credited to a separate ate recognised in the Statement of Financial Activities and credited to a separate recognised in the Statement of Financial Activities and credited to a separate in the Statement of Financial Activities and credited to a separate the Statement of Financial Activities and credited to a separate Statement of Financial Activities and credited to a separate of Financial Activities and credited to a separate Financial Activities and credited to a separate Activities and credited to a separate and credited to a separate credited to a separate to a separate a separate separate restricted fund, fund, Any deprecation deprecation charged on on the element of the cost of assets element of the cost of assets the cost of assets cost of assets of assets assets funded by grants by grants grants is charged charged to restricted funds. ii) Other trading activities ) Income ftom other trading activities represents the amounts, excluding value added tax, receivable duting , the year for goods and setvices supplied, Revenue is recognised at the point of product consumption and setvice delivery.

All capital grants received ate recognised in the Statement of Financial Activities and credited to a separate capital grants received ate recognised in the Statement of Financial Activities and credited to a separate grants received ate recognised in the Statement of Financial Activities and credited to a separate received ate recognised in the Statement of Financial Activities and credited to a separate ate recognised in the Statement of Financial Activities and credited to a separate recognised in the Statement of Financial Activities and credited to a separate in the Statement of Financial Activities and credited to a separate the Statement of Financial Activities and credited to a separate Statement of Financial Activities and credited to a separate of Financial Activities and credited to a separate Financial Activities and credited to a separate Activities and credited to a separate and credited to a separate credited to a separate to a separate a separate separate — restricted fund, fund, Any deprecation deprecation charged on on the element of the cost of assets element of the cost of assets the cost of assets cost of assets of assets assets funded by grants by grants grants is charged charged to restricted funds.

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GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued | neeFOR THE YEAR ENDED 31 MARCH 2022

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1. ACCOUNTING POLICIES - continued
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(d) Income (continued) iii) Charitable activities Production revenue is included in the Statement of Financial Activities when the public petformance of a production is complete. Advance revenue is includedin accruals and deferred income. Revenue arising from the Education and Community programme is included in the Statement of Financial Activities in the period when the activities are completed.

iv) Interest

Interest is recognised in the petiod to which it relates.

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.
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,

Costs of raising funds ate those costs incurred in attracting voluntary income and those incurred in trading activities that raise funds, a

Charitable activities include expenditure associated with the staging of productions and the Education and Community programme and include both the direct costs and suppott costs telating to these activities. Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resoutces, e.g, allocating propetty costs by floor ateas ot pet capita, staff costs _by the time spent and other costs by their usage.

The costs of a production ate charged as expenditure in the Statement of Financial Activities when the public performance of a production is complete. Costs of future productions are carried forward as othet debtors.

The costs associated with the Education and Community programme ate charged as expenditure in the Statement of Financial Activities in the period when the activities are completed.

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(g) ‘Taxation
The charity benefits from rates relief and is exempt from corporation tax on its charitable activities. It is
not, however, exempt ftom VAT and irrecoverable VAT is included in the cost of these items to which it
relates.
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GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2022 on

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1, ACCOUNTING POLICIES - continued

Short leasehold property improvements ate depreciated over varying terms not longer than the remainder of the lease term. The improvementsare revalued to teflect the actual costs incurred on completion of each defined phase of work in line with grant funds from the Everyman Theatre Cheltenham Development Trust.

Depteciation is charged from the year following acquisition. The deminimis limit below which fixed assets ate not capitalised is £1,000.

;

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The trustees consider the catrying values of assets and any impaitment thereon. Where there is. impairment, a ptovision to recognise the diminution in value is recognised in the financial statements. Gj) Stocks , Stocks ate valued at the lower of cost and net realisable value, after making due allowances for obsolete and slow-moving items. Cost is defined as the average cost of goods including transport costs. Net tealisable value is based on estimated selling price less costs expected to be incurred prior to disposal. _ |

(k) Funds Structure Funds held by the chatity are either:

Unrestriéted generalfunds ~ these ate funds which can be used in accordance with the charitable objects at the discretion of the trustees.

Designatedfunds — these are funds set aside by the trustees out of unrestricted general funds for specific future purposes of projects.

.

Restrictedfunds — these ate funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor ot when funds are raised for particular restricted purposes. ;

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. —

. () = Pensions " "The group opetates a defined contribution pension scheme. Contributions payable for the year are charged to the Statement of Financial Activities. The assets of the pension scheme are held separately to those of the group in independently administered funds. 7

-19-

NOTES TO THE FINANCIAL STATEMENTS - continued -

,

_ GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED

)

FOR THE YEAR ENDED 31 MARCH 2022

en

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||||||||| |---|---|---|---|---|---|---|---| |2.|INCOME| |2022|2021| |a)|Donations|and legacies|(group|and charity)|£|£| |Unrestrictedgeneralfunds| |Grants| |Arts|Council England|384,494|384,494| |Cheltenham Borough|Council|148,800|148,800| |Culture Recovery Fund|401,874|832,000| |935,168|1,365,294| |Bequest from Rosemary Parker|14,000|-|40,000| |Bequest from|Colin Bailey|1,000|-| |Sponsorship,|legacies and other income|34,573|28,245| ||| |984,741|1,433,539| |Restricted incomefunds — grants and donations|,| |Donor|Sponsorship|Reference| |Everyman Theatre Association|Studio|Christmas|Show|—|4,500|-| |Barnwood|Trust|Refugee|Project|oe|1,927|-| |National Benevolent|Charity|Refugee|Project|1,927|-| |National|Star|College|.|Puppet|Project|1,300|-| |Sponsor|a Seat income|28,520|-| |Othets|less|than £600|9,742|3,772| |.|47,916|3,772| |Restricted|generalfunds| |Cheltenham Borough Council — rent & insurance|46,250|46,250| |94,166|50,022| |Total donations|and legacies|1,078,907|1,483,561|

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GLOUCESTERSHIREEVERYMANTHEATRECOMPANY GLOUCESTERSHIREEVERYMANTHEATRECOMPANY GLOUCESTERSHIREEVERYMANTHEATRECOMPANY GLOUCESTERSHIREEVERYMANTHEATRECOMPANY COMPANYLIMITED
NOTESTOTHE FINANCIALSTATEMENTS- continued ;
FORTHE THEYEARENDED 31MARCH 2022 .
nn nn nn nn nn nn nn nn
2, INCOME - continued
2022 2021
£
b)
OtherTradingActivities (group)
Unrestrictedgeneralfunds
Bat and catering activities		 , 546,672 81,727
546,672 81,727
c)
Investmentincome (group)		 ;
Unrestrictedgeneralfunds
Interestoninvestments		 16,514 13,972
oo
d)
Investmentincome (charity)
Unrestrictedgeneralfunds
Interestoninvestments		 16,514 13,972
Rent and service contributions from trading subsidiaries 34,089 33,420
Dividends from trading subsidiaries 70,295 14,710
120,898 . 62,102
3. INCOMEFROMCHARITABLEACTIVITIES
Unrestrictedgeneralfunds—group andcharity .
Income from concerts and stage performances:
-
admissionchatges andprogrammes		 3,222,736 350,559
EducationandCommunityProgrammeincome 110,842 32,214
"3,333,578 382,773
.
4. OTHERINCOME
Unrestrictedgeneralfunds -group
Production tax credits		 59,048 16,630
Other Government prants
,
_ Writedown ofloan to subsidiary company		 ; 10,619
56		 579,123
-
69,723 595,753
Unrestrictedgeneralfunds - charity
OtherGovernmentgrants		 7,487 480,037
5. EXPENDITUREONRAISINGFUNDS
Unrestrictedgeneralfunds -group		 FUNDS - .
Theatre - support costs (note 7)
Batand catering		 -
502,017		 -
330,787
502,017 330,787
.
Unrestrictedgeneralfunds - charity ,
Theatre - support costs (note 7) - -
-21-

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GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED

,

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NOTES TO THE FINANCIAL STATEMENTS- continued

FOR THE YEAR ENDED 31 MARCH 2022

a

6. EXPENDITURE ON CHARITABLE ACTIVITIES - CHARITY

;

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The charityundertakes direct charitable activities only. The charityundertakes direct charitable activities only.
Concerts Education &
: And Stage
Performances		 Community
Programme		 2022
Total		 2021
Total		 —
& £ £
Directproduction costs
Backstage and otherproduction costs
Production/activityadvertising andmarketing
Box office and front ofhouse		 1,989,580
485,859
392,120
206,323		 75,289
-
-
-		 2,064,869
485,859
392,120
206,323		 308,104
807,419
173,148
122,302
.
Depreciation/loss ondisposalofassets
Centralpremises costs
Suppott costs (note 7)		 191,706
237,530
593,502		 39,265
48,651
. 179,331		 230,971
286,181
772,833		 243,935
210,918
795,007		 ;
; 4,096,620 342,536 4,439,156 2,660,833

Included in direct production costs is the write off of costs relating to two co-produced shows of £63,000.

.

7. ALLOCATION OF SUPPORT COSTS -CHARITY ALLOCATION OF SUPPORT COSTS -CHARITY
The charityallocates its supportcosts asshowninthe tablebelow andthen further apportions the costsbetween
the two charitable activities undertaken (see note 8). Support costs ate allocated on a basis consistentwith the
use ofresources.
.
Theatre 7
Operation (inc
Education)		 ,
£
Support costs ©
General office * 546,300.
Finance office 139,519
Information technology 55,777
External audit 11,179
. Legal and otherprofessional fees 20,058
. 772,833 -

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8, ANALYSIS OF NET COST OF CHARITABLE ACTIVITIES - CHARITY

)

.

This table shows the cost of the two main charitable activities This table shows the cost of the two main charitable activities This table shows the cost of the two main charitable activities and the sources ofrevenue directly to support
those activities. ;
, Concerts Education & _
and Stage
-Performances		 Community
Programme		 2022
Total		 2021
Total
£ £ £
Costs
Admission charges		 a 4,096,620
3,222,736		 342,536
110,842		 4,439,156
3,333,578		 2,660,833
382,773
Net cost funded from otherincome 873,884 231,694 1,105,578 2,278,060
)

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7

GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2022

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9. ANALYSISOFSTAFFCOSTS 2022
&		 2021
£
an Salaties andwages
.
Socialsecutity costs
Pension costs		 ; 2,131,726
135,686
76,944		 — 1,683,934
104,437
63,737
2,344,356 1,852,108
There were two employees (2021: 2 employees) whoseemoluments emoluments for the yeatwere were inexcess of£60,000.
The numberofstaffemployed bythe group duringthe theyear yearwas as follows:
2022 2021
Number Number
. Full-time Part-time Casual Total Total
Batand catering 5 1 - 25 31 26
Concerts and stageperformance
(House staff)
EducationandCommunityProgramme
Fundraising		 2
-
-		 . 6
2
1		 102
3
-		 110
5
1		 109
9
1
7 10 - 130 147 145
10. MOVEMENT INTOTAL FUNDSFOR FORTHEYEAR
This is stated aftercharging/(crediting) the following: 2022 2021
Auditot’s remuneration 11,179 10,686
Pension contributions 76,944 63,737
Depteciation oftangible fixed assets
-
restricted funds		 121,141 420,759
.
=
unrestricted funds		 130,095 156,124
251,236 276,883 .

;

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  1. TRUSTEES’ REMUNERATION AND BENEFITS

No trustees’ remuneration was paid in the current ot prior yeat. No payments wete made to trustees for consultancy services and no expenses were reimbursed in either the cutrent ot ptior year.

-23-

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| .

GLOUCESTERSHIREEVERYMANTHEATRE GLOUCESTERSHIREEVERYMANTHEATRE GLOUCESTERSHIREEVERYMANTHEATRE GLOUCESTERSHIREEVERYMANTHEATRE COMPANYLIMITED COMPANYLIMITED COMPANYLIMITED
NOTESTOTHEFINANCIALSTATEMENTS STATEMENTS- continued .
FORTHEYEARENDED 31MARCH 2022 ,
12. TANGIBLE FIXEDASSETS ASSETS ~GROUP
Short
Leasehold
Motor
_—Plant&
VehiclesEquipment		 Property
Improvements		 Total
. £ £ £ £
Cost orValuation
At 1 April2021
Additions
Disposals		 9,750
-
-		 1,103,775
21,009
_ (18,302)		 3,435,996
17,055
-		 4,549,521
38,064
(18,302)
.
At 31 March 2022 9,750 1,106,482 ~ 3,453,051 4,569,283
Depreciation
At 1 April2021
Charge for theyear
Disposals		 9,750
-
-		 867,131
51,580
(2,524)		 1,981,866
199,656
-
.
At 31 March 2022 ; 9,750 916,187 2,181,522 3,107,459
Net BookValue
At 31 March2022 - 190,295 1,271,529 = 1,461,824
; At 31 March 2021 - 236,644 1,454,130 1,690,774
TANGIBLEFIXEDASSETS ASSETS—CHARITY
; Short
, Leasehold
. Motor
_——Plant&
VehiclesEquipment		 Property
Improvements		 Total
Cost orValuation
At 1 April 2021
Additions
Disposals		 . ,
;		 9,750
-
-		 735,088
10,359
(7,902)		 3,435,996
17,055
-		 4,180,834
27,414
(7,902)
At 31 March 2022 9,750 737,545 3,453,051 4,200,346
Depreciation
At 1 April 2021
Chatge for theyeat
Disposals		 . 9,750
-
-		 570,243
30,925
(2,524)		 1,981,866
199,656
Lo		 , 2,561,859
230,581
(2,524)
At31 March2022 ; 9,750 598,644 2,181,522 2,789,916
.
Net BookValue
At 31 March 2022 - 138,901 1,271,529 1,410,430
At31March2021 - 164,845 1,454,130 1,618,975

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:

GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS[-][continued] FOR THE YEAR ENDED 31 MARCH 2022

. .

12, TANGIBLE FIXED ASSETS - continued

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|||||||| |---|---|---|---|---|---|---| |All assets|are used in direct furtherance of the chatity’s|objects.|Oe| |Short leasehold|propetty improvements|comprise:| |Costor|Accumulated|Net Book| |Group|and charity|"Revaluation|Deprecation|Value| |a.|£|&| |Additions|2009|101,474|(86,503)|14,971| |Additions|2010|68,763|(47,963)|20,800| |Additions|2011|29,256|(29,256)|-| |Additions|2012|;|pO|2,408,108|(1,654,537)|753,571| |Additions|2013|:|77,209|(42,990)|34,219| |)|Additions|2014|;|14,060|(10,977)|3,083| |Additions|2016|©|©|114,536|(43,070)|71,466| |Additions|2017|.|22,847|(6,022)|16,825| |Additions|2018|22,804|(6,783)|16,021| |Additions|2019|68,563|(15,376)|53,187| |Additions 2020|57,149|(11,291)|45,858| |Additions|2022|17,055|||-|.|17,055| |Revaluation:-|,| |- Phase|2:|Ventilation|,|337,274|(168,294)|168,980| |- Phase|3B:|Refurbishment|113,953|(58,460)|55,493| |3,453,051|(2,181,522)|1,271,529| |13.|INVESTMENTS|—- CHARITY|;|Subsidiary| |undertakings| |.| |,|4| |Shates —|cost|at|31|March|2021| |Additions|in|yeat|-| |Disposals|-| |Shares — cost|at|31.|March 2022|4|

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|||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |The|charity|owns|the|entire|ordinary|share|capital|of|Gloucestershire|Everyman|Theatre|Catering|Company| |Limited|(cost £2), The|Gloucestershite Everyman Theatre Productions|Company Limited|(cost £1) and TBP on| |Stage|Limited|(cost|£1).|The|results|of|all|of|the|subsidiary|companies|have|been|included|within|these| |consolidated|financial|statements.| |14,|DEBTORS|||Group|Charity| |2022|2021|2022|2021| |.|&|£|&|£| |Trade|debtors|110,708.|11,091|110,708|~|11,091| |Amount owed by|subsidiary companies|-|-|82,425|76,351| |Other debtors|167,525|161,504|161,542|156,724| |Prepayments|and accrued income|248,047|371,656|172,173|246,794| ||| |526,280|544,251|526,848|490,960|

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GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED ) NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2022 On

15, CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

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||||||||| |---|---|---|---|---|---|---|---| |Group|Charity| |2022|2021|2022|2021| |£|£|£|£| |Loan|185,964|43,688|185,964|43,688| |-|Trade|creditors|98,510|62,332|77,095|58,535| |Taxation and|social|security|38,791|25,749|34,549|23,420| |Other|creditors|49,434|26,980|48,240|21,512| |Accruals|and|deferred income|2,464,918|2;121,224|2,367,736|1,984,444| |Pension|contributions|payable|13,799|6,281|©|13,799|6,281| |2,851,416|2,286,254|2,727,383|2,137,880|

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Included within accruals and deferred income is £1,297,490 (2021: £1,419,768) of advance box office ticket sales - and vouchers for performances to take place in the next financial year.

  1. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

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|||||||||| |---|---|---|---|---|---|---|---|---| |Loans (Cheltenham Borough Council and CBILS)|2022| |Due|1 — 2|years|186,597| |,|187,256| |Due 2-3|yeats| |Due 3 —5|years|;|362,467| |,|Due|in|more|than|5|years|'|232,494| |)|968,814| |Deferred|income|oe| |968,814|

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The loan from Cheltenham Borough Council is at a fixed rate of 3.93% over 25 yeats and is unsecuted.

The bank holds a fixed and floating charge dated 12 February 2021 in connection with the CBILS loan.

17. ANALYSIS OF GROUP NET ASSETS BETWEEN FUNDS

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||||||||| |---|---|---|---|---|---|---|---| |Other|Restricted|Restricted| |Restricted|‘Capital|Income|Unrestricted| |Funds£|’|Fund£|Fund£|—s|Funds&£|Total£| |Tangible|fixed|assets|-|570,281|-|891,543|1,461,824| |Current|assets|102,268|-|-|5,065,164|5,167,432| |Cutrent|liabilities|-|-|-|(2,851,416)|(2,851,416)| |Long term|liabilities|-|-|-|(968,814)|(968,814)| |102,268|570,281|-|2,136,477|2,809,026|

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GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED , NOTES TO THE FINANCIAL STATEMENTS- continued .

FOR THE YEAR ENDED 31 MARCH 2022

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e en

18: COMPARATIVES FOR THE CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES

;

a

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|||||||||| |---|---|---|---|---|---|---|---|---| |.|.|Total| |;|;|:|RestrictedFunds. UnrestrictedFunds|Funds2021| |£|£|£| |INCOME FROM|.| |Donations|and|legacies|50,022|1,433,539|1,483,561| |Other trading activities|-|81,727|©|81,727| |Investment income|.|-|13,972|13,972| |50,022|1,529,238|=:1,579,260| |Income|ftom|Charitable|Activities|-|382,773|382,773| |Other income|-|595,753|595,753| |Total|,|50,022|2,507,764|2,557,786| |EXPENDITURE ON|;| |Raising funds|-|330,787|330,787| |Charitable|activities|/|171,009|2,308,199|2,479,208| |Total|171,009|2,638,986|—-2,809,995| |NET INCOME/(EXPENDITURE)| |BEFORE TRANSFERS|(120,987)|(131,222)|(252,209)| |Transfers between|funds|4,010|(4,010)|-| |NET MOVEMENT OF FUNDS IN YEAR|(116,977)|(135,232)|(252,209)| ||| |RECONCILIATION|OF FUNDS|oo| |.|Balance|brought forward|at|1 April 2020|885,982|2,073,690|2,959,672|.| |Balance|carried forward at 31 March 2021|769,005|1,938,458|2,707,463|

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.

|

- GLOUCESTERSHIREEVERYMANTHEATRECOMPANYLIMITED GLOUCESTERSHIREEVERYMANTHEATRECOMPANYLIMITED GLOUCESTERSHIREEVERYMANTHEATRECOMPANYLIMITED GLOUCESTERSHIREEVERYMANTHEATRECOMPANYLIMITED GLOUCESTERSHIREEVERYMANTHEATRECOMPANYLIMITED
NOTESTOTHEFINANCIALSTATEMENTS- continued
FORTHE THEYEARENDED 31MARCH 2022
Oe
.
19. COMPARATIVESFORTHECHARITYSTATEMENTOFFINANCIAL FINANCIALACTIVITIES
; Total
; . - Restricted Unrestricted
Funds
Funds
£
£		 & Funds
2020
&		 ,
INCOMEFROM
Donations andlegacies
Investmentincome		 ; 50,022
-		 1,433,539
62,102		 1,483,561
62,102
-
50,022 1,495,641 1,545,663
IncomefromCharitableActivities
Otherincome		 -
-		 382,773
480,037		 382,773
480,037
Total 50,022 2,358,451 2,408,473
EXPENDITUREON ;
Raising funds
Charitable activities		 ; -
171,009		 -
2,489,824		 -
2,660,833
Total 171,009 2,489,824 2,660,833
NETINCOME/(EXPENDITURE)
BEFORETRANSFERS		 - (120,987) . (131,373) (252,360)
Transfersbetween funds 4010 = (4,0100 -.
NETMOVEMENTOF FUNDSINYEAR YEAR (116,977) (135,383) (252,360)
. RECONCILIATIONOFFUNDS
Balance broughtforward at1April2020		 885,982 .
2,073,690		 = 2,959,672
Balancecarriedforwatdat31March2021 769,005 1,938,307 2,707,312

20. LEGAL STATUS OF THE CHARITY

The charity is a company limited by guarantee. Each of the membets is a guarantor to the extent of £1 in the event of the charity being wound up whilst a member, or within one year of ceasing to be a membet, in tespect of debts and liabilities contracted before ceasing to be a member.

,

,

;

;

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- GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2022 ee

a,

21. ANALYSISOF CHARITABLE FUNDS -GROUP ANALYSISOF CHARITABLE FUNDS -GROUP
,
; a) Analysis ofUnrestrictedFundMovements
Asati		 As at 31
,
April2021
.
£.		 Income
£		 Expenditure
£		 Transfers
£
General fund
460,085		 4,951,228 (4,690,209) (115,000) 606,104
DesignatedFunds
Continuity ofoperations and
Exceptional Circumstances fund —950,000
Majormaintenance fund
_ 150,000
CommunityProjects fund
110,000
Refurbishment fund
186,395		 ,
-
-
-
-		 -
-
-
-		 os
-
15,000
-		 950,000
150,000
125,000
186,395
In-house Productions
81,978		 - (63,000) 100,000 118,978
,
1,938,458		 4,951,228 (4,753,209) - 2,136,477
b) Analysis ofRestrictedFundMovements
Capital fund (note 24)
691,422
Rent&Insurance fund
-
Education&Community fund
29,641
McKellan Bursaries
47,942		 -
46,250
46,616
-		 (121,141)
(46,250)
(17,077)
(5,935)		 -
-
/
=
-		 . 570,281
-
59,180
42,007
National Stat College—PuppetFilm
Project
-		 1,300 (219) 1,081
769,005 94,166 (190,622) - 672,549

.

:

oe

22. COMPARATIVES FOR THE ANALYSIS OF CHARITABLE FUNDS - GROUP

.

.

|

a) Analysis ofUnrestrictedFundMovements
,		 Movements
As at 1		 As at 31
, April2020
&
General fund
546,428
DesignatedFunds
-
Continuity ofoperations and
ExceptionalCircumstances fund
950,000
Majormaintenance fund
150,000
CommunityProjects fund
70,000
Refurbishment fund
186,395		 Income
&
2,507,764
-
-
-
-		 Expenditure
£
(2,638,986)
;
-
-
-
-		 Transfers
£
44,879
-
-
' 40,000
-
In-house Productions 170,867 - - (88,889) 81,978
2,073,690 2,507,764 (2,638,986) (4,010) 1,938,458
b) Analysis ofRestricted FundMovements
Capital fund (note 24)
812,181
Rent&Insurance fund
-
Education&Communityfund
22,159
McKeilanBursaries
51,642		 -
46,250
3,772
-		 (120,759)
(46,250)
(300)
(3,700)		 -
-
4,010
-		 691,422
-
29,641
47,942
885,982 50,022 (171,009) 4,010 769,005

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GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2022

Purpose of Restricted Funds The Capital fund represents the cost of completed phases of short leasehold improvements funded by the Evetyman Theatre Cheltenham Development Trust depreciated over the remaindet of the lease term, the costs ‘of roofing work funded by Cheltenham Borough Council depreciated over its useful economic life, and the cost of the Studio refurbishment and air conditioning units funded by the Charles Irving Trust and depteciated over their useful economic life.

,

The Rent & Insutance fund represents the portion of the annual rent and insurance costs that is subsidised by a gtant from Cheltenham Borough Council.

The Education & Community fund represents money taised to meet costs incurted by the Education and Community programme. This includes Project Zebra, funded by Investec, which will provide a drama club in ptimaty schools, a children’s play to tout libraries and a streaming to children’s hospitals of the Studio Christmas . show. ,

The McKellen fund represents money to help children and young people to access the arts.

The National Star College Puppet Project fund represents money fot a drama project working with students of the National Star College.

) Purpose of Designated Funds a The Continuity of Operations and Exceptional Circumstances fund is a reserve to enable the Theatre to maintain operations and meet its obligations in the face of a downturn in income or exceptional circumstances. The Major Maintenance fund is a reserve for major maintenance to the Theatre building. The Community Projects fund will help to fund projects and the production of plays. which encourage local . "people to engage with the arts.

The Refurbishment fund is designated for expenditure to refurbish and improve the front of house ateas, ~

The In-house Productions fund is a reserve to fund in-house productions and co-productions that will be performed in the main house and may tout nationally.

-24. RESTRICTED CAPITALFUND Group& Charity Group& Charity
2022 2021
. £
Balancebrought forward
Depreciation chargeontevaluedbalance, transferred
in yeatfromIncomeFund		 691,422
(121,141)
-		 812,181
(120,759)
-
, Grant receipt
; 570,281 691,422

-24. RESTRICTED CAPITAL FUND

-30-

)

;

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GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |25.|CAPITAL COMMITMENTS|;| |2022|2021| |Capital|commitments|,|-|-,| |26.|OTHER FINANCIAL|COMMITMENTS| |.|.|2022£|2021£| |Annual commitments|under|non-cancellable|operating|leases:| |-|land|and|buildings|expiring in|over|five|years|72,750|72,750| |_|paymentsCommitmentsagreedof with£216,765travelling(2021:shows£140,484)prior|to|existedthe|yearatend,theforbalance performancessheet|date,afterrelatingthe|yeartoend.guaranteed|.|future|

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  1. CONTINGENT LIABILITIES

. ; ;

The charity has entered into a legal charge with the National Heritage Memorial Fund with regard to the grant given by the Fund in connection with the Theatre’s major refurbishment.

,

  1. RELATED PARTY TRANSACTIONS

During the yeat, £13,698 of profits were paid up to the Theatre from its trading subsidiary, The Gloucestershire Evetyman Theatre Catering Company Ltd (the Catering company)(2021: donation to the cateting subsidiary of £183,394), Charges of £108,885 (2021: £69,610) wete made to the Catering company for the provision of rent, utilities and other expenditure incurred on the subsidiary’s behalf. Costs of £52,712 (2021: £8,234) incurred on behalf of the parent company by the Catering company were recharged to the Theatre. At the year end, £62,721 (2021: £55,811) was due from the Catering company.

During the yeat, £56,597 of profits were paid up to the Theatre from its trading subsidiary, The Gloucestershire Evetyman Theatre Productions Company Ltd (the Productions company) (2021: £14,710). The Theatre techatged costs of £216,466 (2021: £17,857) to the Productions company that had been incurred on the _ subsidiary’s behalf. The Theatre received chatges of £723,771 (2021: £169,903) from the Productions company in respect of productions made on the Theatte’s behalf. At yeat end, £57,527 was owed by the Productions company (2021: £6,222 was owed to the Productions company).

Duting the year Gloucestetshite Everyman Theatre Catering Company Ltd sold goods to the value of £242 (2021: £191) to The Gloucestershire Everyman Theatre Productions Company Ltd, on an atm’s length basis.

During the year the Theatre wrote off £56 (2021: £88,889) owed by its trading subsidiary TBP On Stage Ltd, . leaving a balance at year end owed to the Theatre by TBP On Stage Ltd of £117 (2021: £18,775). J Workman, a trustee of the Theatre, is a partner in BPE Solicitors, who provided legal advice to the Theatre to the value of£11,285 including VAT on an arm’s length basis. BPE paid sponsorship income of £6,458 including VAT to the Theatre. ;

. P Blackburn, the wife of J Blackburn who is a trustee of the Theatre, provided secretarial services to the Theatre during the year and invoiced £135 on an arms’ length basis.

.

,

GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2022

28. RELATED PARTY TRANSACTIONS- continued

M Goucher, chief executive of the Theatre is also the director of Mark Goucher Productions Limited (MGPL), During the year the Theatre rented the auditorium and provided box office, marketing and technical setvices on an atm’s length basis to MGPL for productions of Priscilla Queen of the Desert and Hairspray, invoicing a total of £137,573 including VAT. The Theatre collected ticket sales of £700,322 on behalf of MGPL for these productions. ,

MGPL was paid £5,400 including VAT for services, on an atms’ length basis, and the Theatre was reimbursed , for expenses that were incutted on behalf of MGPL to the value of £961 including VAT.

Refreshments of £155 including VAT wete invoiced to MGPL by the Theatte’s Catering subsidiary.

-32-