2023-03-31-accounts - The Gloucestershire Everyman Theatre Company Limited

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CONTENTS	Page
List ofoffIcers and advisers
Report ofthe Trustees	2-8
Report ofthe Independent Auditor	9-11
Consolidated Statement ofFinancial Activities	12
Charity Statement ofFinancial Activities	13
Consolidated and Charity Statements ofFinancial Position	14
Consolidated Cash Flow Statement	15 —16
Notes to the Financial Statements	17-32

DIRECTORS/TRUSTEES	CRThomas —Chair
	Z Ahmed
	J Blackburn
	SBlanch6eld (appointed	10August 2022)
	M Borkowski
	WEA Edwards
	M Hamlin
	CFKong
	G Milner
	GE CWoodcock
	J KWorkman
COMPANY SECRETARY	J KWorkma'n
CHIEF EXECUTIVE	M Goucher
ADDRESS 8cREGISTERED OFFICE	Everyman Theatre
	Regent Street
	Cheltenham
	Gloucestershire
	GL50 1HQ
AUDITOR	Andorran Limited
	Chartered Accountants	BcStatutory Auditor
	6 Manor Park Business	Centre
	Mackenzie Way
	Cheltenham
	Gloucestershire
	GL51 9TX
SOLICITORS	BPE
	StJames House
	StJames Square
	Cheltenham
	Gloucestershire
	GL50 3PR

				Total	Total
		Restricted Unrestricted		Funds	Funds
		Funds	Funds	2023	2022
INCOME FROM
Donations and legacies (note 2a)		82,371	566,798	649,169	1,078,907
Other trading activities (note 2b)			643,541	643,541	546,672
Investment income (note 2c)			37,805	37,805	16,514
		82,371	1,248,144	1,330,515	1,642,093
Income from Charitable Activities	(note 3)		5,032,163	5,032,163	3,333,578
Other income (note 4)			147,'124	147,124	69,723
Total		82,371	6,427,431	6,509,802	5,045,394
EXPENDITURE ON
Raising funds (note 5)			597,911	597,911	502,017
Charitable activities		124,127	5,921,828	6,045,955	4,441,814
Total		124,127	6,519,739	6,643,866	4,943,831
NET INCOME/(EXPENDITURE)
BEFORETRANSFERS		(41,756)	(92,308)	(134,064)	101,563
Transfers between funds (note 21)
NET MOVEMENT OF FUNDS IN YEAR		(41,756)	(92,308)	(134,064)	101,563
RECONCILIATION OF FUNDS
Balance brought forward at 1April 2022		672,549	2,136,477	2,809,026	2,707,463
Balance carried forward at 31March 2023		630,793	2,044,169	2,674,962	2,809,026
Analysis offunds (note 21):
Unrestricted general funds				503,796	606,104
Designated funds				1,540,373	1,530,373
Restricted capital funds				535,899	570,281
Restricted income funds				94,894	102,268
				2,674,962	2,809,026

					Total	Total
			Restricted Unrestricted		Funds	Funds
			Funds	Funds	2023	2022
INCOME FROM
Donations and legacies	(note 2a)		82,371	566,798	649,169	1,078,907
Investment income (note 2d)				228,057	228,057	120,898
			82,371	794,855	877,226	1,199,805
Income from Charitable	Activities	(note 3)		5,032,163	5,032,163	3,333,578
Other income						7,487
Total			82,371	5,827,018	5,909,389	4,540,870
EXPENDITURE ON
Raising funds (note 5)
Charitable activities (note 6)			124,127	5,919,362	6,043,489	4,439,156
Total			124,127	5,919,362	6,043,489	4,439,156
NET INCOME/(EXPENDITURE)
BEFORETRANSFERS			(41,756)	(92,344)	(134,100)	101,714
Transfers between funds	(note 21)
NET MOVEMENT OF FUNDS IN YEAR (NOTE 10)			(41,756)	(92,344)	(134,100)	101,714
RECONCILIATION	OF FUNDS
Balance brought forward at 1April 2022			672,549	2,136,477	2,809,026	2,707,312
Balance carried forward at 31March 2023			630,793	2,044,133	2,674,926	2,809,026
Analysis offunds:
Unrestricted general funds					503,760	606,104
Designated funds					1,540,373	1,530,373
Restricted capital funds					535,899	570,281
Restricted income funds					94,894	102,268
					2,674,926	2,809,026

				Group		Charity
			2023	2022	2023	2022
FIXEDASSETS
Tangible assets (note 12)			1,435,337	1,461,824	1,393,054	1,410,430
Investments (note 13)					4	4
			1,435,337	1,461,824	1,393,058	1,410,434
CURRENT ASSETS
Stocks			15,751	13,814
Debtors (note 14)			630,551	526,280	557,917	526,848
Cash at bank and in hand			4,349,928	4,627,338	4,268,256	4,567,941
			4,996,230	5,167,432	4,826,173	5,094,789
CURRENT LIABILITIES
Creditors: Amounts	falling due within one year (note 15)		2,974,084	2,851,416	2,761,784	2,727,383
NET CURRENT	ASSETS		2,022,146	2,316,016	2,064,389	2,367,406
LIABILITIES
Creditors: amounts	falling due after more than one year (note 16)		782,521	968,814	782,521	968,814
NET ASSETS (note 17)			2,674,962	2,809,026	2,674,926	2,809,026
FUNDS OFTHE CHARITY (note 21)
Restricted funds
Capital funds			535,899	570,281	535,899	570,281
Other restricted funds			94,894	102,268	94,894	102,268
Total restricted funds			630,793	672,549	630,793	672,549
Unrestricted income funds:
General			503,796	606,104	503,760	606,104
Designated funds			1,540,373	1,530,373	1,540,373	1,530,373
TOTAL CHARI	FUNDS		2,674,962	2,809,026	2,674,926	2,809,026
Approved b	stees on 30	ctober 2023
		Trustee
mas
		Trustee
G Milner
For and on behalf	ofthe trustees

			2023	2022
Cash flows from operating		activities
Cash generated from operating activities			13,862	715,513
Interest paid			(48,082)	(15,003)
Net cash from operating		activities	~34,220	700,510
Cash flows from investing		activities
Purchase oftangible oned	assets		(106,094)	(38,064)
Interest received			37,805	16,514
Taxation received			58,841	91,081
Net cash from investing	activities		9,448	69,531
Cash flows from financing		activities
Loan repayments in year			(233,742)	(29,480)
Net cash from financing	activities		~233,742	~29,480
Increase/(decrease) in cash		and cash equivalents	(277,410)	740,561
Cash and cash equivalents	at the beginning ofthe year		4,627,338	3,886,777
Cash and cash equivalents		at the end ofthe year	4,349,928	4,627,338

RECONCILIAT	I	ON OF INC	OME TO CASH GENER	ATED FROM OPERA	TIONS
				2023	2022
Net income				(134,064)	101,563
Depreciation charges				132,580	251,236
Finance costs				48,082	15,003
Finance income				(37,805)	(16,514)
				8,793	351,288
Decrease/(increase)		in stocks		(1,937)	(1,328)
Decrease/(increase)		in trade and	other debtors	(104,271)	17,971
Increase/(decrease)		in trade and	other creditors	111,277	347,582
Cash generated	from operating		activities	13,862	715,513

Year	ended 31March 2023
		31.3.23	1.4.22
Cash	and cash equivalents	4,349,928	4,627,338
Year	ended 31March 2022
		31.3.22	1.4.21
Cash	and cash equivalents	4,627,338	3,886,777

2.	INCOME
					2023	2022
a)	Donations and legacies (group and charity)
	Unrestricted general fiends
	Grants
	Arts Council England				384,494	384,494
	Cheltenham Borough	Council			148,800	148,800
	Culture Recovery Fund					401,874
					533,294	935,168
	Bequest from Lady Marychurch				10,000
	Bequest from Mary Rees				1,000
	Bequest from Rosemary Parker					14,000
	Bequest from Colin Bailey					1,000
	Sponsorship, legacies	and other income			22,504	34,573
					566,798	984,741
	Restricted income funds —grants and donations
	Donor		S onsorshi Reference
	Investec		Project Zebra		20,000
	Wentworth Court		Intergenerational	Project	2,500
	Everyman Theatre Association		Studio Christmas	Show	3,073	4,500
	Cheltenham Borough	Council	The Walk		3,000
	National Star College		Reflections Project		1,200
	National Star College		Discover and Explore Project		1,000
	Barnwood Trust		Refugee Project			1,927
	National Benevolent	Charity	Refugee Project			1,927
	National Star College		Puppet Project			1,300
	Sponsor a Seat income				4,800	28,520
	Others less than $600				548	9,742
					36,121	47,916
	Restri ctedgeneral funds
	Cheltenham Borough	Council —rent Bcinsurance			46,250	46,250
					82,371	94,166
	Total donations and	legacies			649,169	1,078,907

2.	INCOME - continued	INCOME - continued
							2023	2022
	b) Other Trading	Activities			(group)
	Unrestricted general funds
	Bar and catering activities						643,541	546,672
							643,541	546,672
	c) Investment income		(group)
	Unrestricted general funds
	Interest on investments						37,805	16,514
	d) Investment income		(charity)
	Unrestri ctedgeneral funds
	Interest on investments						37,805	16,514
	Rent and service contributions			from txading subsidiaries			34,770	34,089
	Dividends from txading subsidiaries						155,482	70,295
							228,057	120,898
	INCOME FROM CHARITABLE ACTIVITIES
	Unrestricted general funds	—group		and	charity
	Income from concerts	and stage			performances:
	admission charges	and programmes					4,902,343	3,222,736
	Education and Community		Programme			income	129,820	110,842
							5,032,163	3,333,578
4.	OTHER INCOME
	Unrestricted general funds	—gr0up
	Production tax credits						146,883	59,048
	Other Government grants							10,619
	Write down ofloan to	subsidiary			company		241	56
							147,124	69,723
	Unrestricted general funds	- charity
	Other Government grants							7,487
5.	EXPENDITURE ON RAISING FUNDS
	Unrestricted general funds	-gmup
	Theatre —support costs (note			7)
	Bar and catering						597,911	502,017
							597,911	502,017

The charity under	takes direct c	haritable activiti	es only.
			Concerts	Education 8c
			And Stage	Community	2023	2022
			Performances	Programme	Total	Total
Direct production	costs		3,259,964	110,359	3,370,323	2,064,869
Backstage and other production		costs	448,029		448,029	485,859
Production/activity	advertising	and marketing	398,629		398,629	392,120
Boxoffice and front ofhouse			234,496		234,496	206,323
Depreciation/loss	on disposal	ofassets	98,711	20,218	118,929	230,971
Central premises	costs		449,830	92,134	541,964	286,181
Support costs (note 7)			725,159	205,960	931,119	772,833
			5,614,818	428,671	6,043,489	4,439,156

the two charitable activities use ofresources.	undertaken (see not	e 8). Support costs are allocat
		Theatre
		Operation (inc
		Education)
Support costs
General of6ce		629,782
Finance of6ce		175,089
Information technology		59,716
External audit		11,826
Legal and other professional	fees	54,706

ANALYSIS OF STAFF COSTS	2023	2022
Salaries and wages	2,266,838	2,131,726
Social security costs	160,759	135,686
Pension costs	82,827	76,944
	2,510,424	2,344,356

								2023	2022
								Number	Number
					Full-time	Part-time	Casual	Total	Total
	Bar and catering						27	32
	Concerts and stage performance
	(House staff)				15	26	78	119	110
	Education and Community			Programme	4	2	8	14	5
	Fundraising					1		1	1
					23	30	113	166	147
10.	MOVEMENT	IN TOTAL FUNDS			FORTHE	YEAR
	This is stated after charging/(crediting)				the following:		2023		2022
	Auditor's remuneration						11,826		11,179
	Pension contributions						82,827		76,944
	Depreciation of	tangible	Gxed assets
	restricted	funds				34,382		121,141
	unrestricted funds					98,198		130,095
							132,580		251,236

TANGIBLE FIXEDASSETS —GROUP
			Short
			Leasehold
	Motor	Plant 8c	Property
	VehiclesEquipment		Improvements	Total
Cost or Valuation
At 1 April 2022	9,750	1,106,482	3,453,051	4,569,283
Additions	20,735	62,352	23,006	106,093
Disposals	(9,750)	(6,525)	(5,947)	(22,222)
At 31 March 2023	20,735	1,162,309	3,470,110	4,653,154
Depreciation
At 1 April 2022	9,750	916,187	2,181,522	3,107,459
Charge for the year		41,984	90,596	132,580
Disposals	(9,750)	(6,525)	(5,947)	(22,222)
At 31 March 2023		951,646	2,266,171	3,217,817
Net BookValue
At 31 March 2023	20,735	210,663	1,203,939	1,435,337
At 31 March 2022		190,295	1,271,529	1,461,824
TANGIBLE FIXEDASSETS —CHARITY
			Short
			Leasehold
	Motor	Plant Bc	Property
	VehiclesEquipment		Improvements	Total
Cost or Valuation
At 1 April 2022	9,750	737,545	3,453,051	4,200,346
Additions	20,735	57,782	23,006	101,523
Disposals	(9,750)	(6,525)	(5,947)	(22,222)
At 31 March 2023	20,735	788,802	3,470,110	4,279,647
Depreciation
At 1 April 2022	9,750	598,644	2,181,522	2,789,916
Charge for the year		28,303	90,596	118,899
Disposals	(9,750)	(6,525)	(5,947)	(22,222)
At 31 March 2023		620,422	2,266,171	2,886,593
Net BookValue
At 31 March 2023	20,735	168,380	1,203,939	1,393,054
At 31 March 2022		138,901	1,271,529	1,410,430

	All assets are us	All assets are us	ed in dir	ect furtherance	ofthe charity's o	bjects.
	Short leasehold		property	improvements	comprise:
						Cost or	Accumulated	Net Book
	Group and charity					Revaluation	. Deprecation	Value
	Additions	2009				101,474	(88,642)	12,832
	Additions	2010				68,763	(50,563)	18,200
	Additions	2011				29,256	(29,256)
	Additions	2012				2,402,161	(1,700,575)	701,586
	Additions	2013				77,209	(46,980)	30,229
	Additions	2014				14,060	(12,349)	1,711
	Additions	2016				114,536	(50,248)	64,288
	Additions	2017				22,847	(7,227)	15,620
	A.dditions	2018				22,804	(8,479)	14,325
	A.dditions	2019				68,563	(20,501)	48,062
	Additions	2020				57,149	(16,937)	40,212
	Additions	2022				17,055	(1,706)	15,349
	Additions	2023				23,006		23,006
	Revaluation:
	- Phase 2:		Ventilation			337,274	(172,778)	164,496
	-Phase 3B:		Refurbishment			113,953	(59,930)	54,023
						3,470,110	(2,266,171)	1,203,939
13.	INVESTMENTS —CHARITY
								Subsidiary
							undertakings

Shares —cost at 31 March 2022	Shares —cost at 31 March 2022
Additions	in year
Disposals

	companies ha	ve been includ	ed within these cons	olidated ftnancial st	atements.
14.	DEBTORS				Group		Charity
				2023	2022	2023	2022
	Trade debtors			76,512	110,708	76,512	110,708
	Amount owed by subsidiary		companies			108,660	82,425
	Other debtors			286,712	167,525	139,600	161,542
	Prepayments	and accrued income		267,327	248,047	233,145	172,173
				630,551	526,280	557,917	526,848

			Group		Charity
		2023	2022	2023	2022
Loan		186,597	185,964	186,597	185,964
Trade creditors		189,112	98,510	158,010	77,095
Taxation and social security		35,597	38,791	30,541	34,549
Other creditors		25,514	49,434	24,935	48,240
Accruals and deferred	income	2,528,569	2,464,918	2,354,096	2,367,736
Pension contributions	payable	8,695	13,799	7,605	13,799
		2,974,084	2,851,416	2,761,784	2,727,383

Loans (Cheltenham Borough Council and CBILS)
	2023
Due 1 —2 years	187,256
Due 2 —3 years	187,941
Due 3 —5 years	194,223
Due in more than 5 years	213,101
	782,521
Deferred income
	782,521

		Other	Restricted	Restricted
		Restricted	Capital	Income	Unrestricted
		Funds	Fund	Fund	Funds	Total
Tangible	flxed assets		535,899		899,438	1,435,337
Current	assets	94,894			4,901,336	4,996,230
Current	liabilities				(2,974,084)	(2,974,084)
Long term liabilities					(782,521)	(782,521)
		94,894	535,899		2,044,169	2,674,962

				Total
		RestrictedUnrestricted		Funds
		Funds	Funds	2022
INCOME FROM
Donations and legacies		.94,166	984,741	1,07.8,907
Other trading activities			546,672	546,672
Investment income			16,514	16,514
		94,166	1,547,927	1,642,093
Income from Charitable	Activities		3,333,578	3,333,578
Other income			69,723	69,723
Total		94,166	4,951,228	5,045,394
EXPENDITURE ON
Raising funds			502,017	502,017
Charitable activities		190,622	4,251,192	4,441,814
Total		190,622	4,753,209	4,943,831
NET INCOME/(EXPENDITURE)
BEFORETRANSFERS		(96,456)	198,019	101,563
Transfers between funds
NET MOVEMENT OF FUNDS IN YEAR		(96,456)	198,019	101,563
RECONCILIATION	OF FUNDS
Balance brought forward at 1April 2021		769,005	1,938,458	2,707,463
Balance carried forward at 31March 2022		672,549	2,136,477	2,809,026

				Total
		RestrictedUnrestricted		Funds
		Funds	Funds	2022
INCOME FROM
Donations and legacies		94,166	984,741	1,078,907
Investment income			120,898	120,898
		94,166	1,105,639	1,199,805
Income from Charitable	Activities		3,333,578	3,333,578
Other income			7,487	7,487
Total		94,166	4,446,704	4,540,870
EXPENDITURE ON
Raising funds
Charitable activities		190,622	4,248,534	4,439,156
Total		190,622	' 4,248,534	4,439,156
NET INCOME/(EXPENDITURE)
BEFORETRANSFERS		(96,456)	198,170	101,714
Transfers between funds
NET MOVEMENT OF FUNDS IN YEAR		(96,456)	198,170	101,714
RECONCILIATION	OF FUNDS
'Balance brought forward at 1April 2021		769,005	1,938,307	2,707,312
Balance carried forward at 31March 2022		672,549	2,136,477	2,09,026

	a)	Analysis ofUnrestricted		Fund	Fund	Movements
						As at1				As at 31
					April 2022		Income	Expenditure	Transfers	March 2023
		General fund				606,104	6,427,431	(6,519,739)	(10,000)	503,796
		Designated Funds
		Continuity ofoperations	and
		Exceptional Circumstances		fund		950,000				950,000
		Major maintenance fund				150,000				150,000
		Community Projects fund				125,000			10,000	135,000
		Refurbishment fund				186,395				186,395 '
		In-house Productions				118,978				118,97.8
						2,136,477	6,427,431	(6,519,739)		2,044,169
	b)	Analysis ofRestricted Fund			Movements
		Capital fund (note 24)				570,281		(34,382)		535,899
		Rent BcInsurance fund					46,250	(46,250)
		Education BcCommunity		fund		59,180	33,921	(34,190)	(1,901)	57,010
		McKellan Bursaries				42,007		(6,940)	1,901	36,968
		National Star College Projects				1,081	2,200	(2,365)		916
						672,549	82,371	(124,127)		630,793
22.	COMPARATIVES FORTHE ANALYSIS OF						CHARITABLE FUNDS - GROUP
	a)	Analysis ofUnrestricted		Fund		Movements
						As at1				As at 31
					April 2021		Income	Expenditure	Transfers	March 2022
		General fund				460,085	4,951,228	(4,690,209)	(115,000)	606,104
		Designated Funds'
		Continuity ofoperations	and
		Exceptional Circumstances		fund		950,000				950,000
		Major maintenance fund				150,000				150,000
		Community Projects fund				110,000			15,000	125,000
		Refurbishment fund				186,395				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 ofRestricted Fund			Movements
		Capital fund (note 24)				691,422		(121,141)		570,281
		Rent R Insurance fund					46,250	(46,250)
		Education BcCommunity		fund		29,641	46,616	(17,077)		59,180
		McKellan Bursaries				47,942		(5,935)		42,007
		National Star College Projects					1,300	(219)		1,081
						769,005	94,166	(190,622)		672,549

RESTRICT	ED	CAPITAL FU	ND
				Group &Charity
				2023	2022
Balance brought		forward		570,281	691,422
Depreciation	charge on revalued		balance, transferred
in year from	Income Fund			(34,382)	(121,141)
Grant receipt
				535,899	570,281

25.	CAPITAL COMM	ITMENTS
					2023	2022
	Capital commitments				15,048
26.	OTHER FINANCIAL COMMITMENTS
					2023	2022
	A.nnual commitments	under non-cancellable	operating	leases:
	—land and buildings	expiring in over five years			72,750	72,750