| 3 | Chairman's Report |
|---|---|
| 4 | Report of the directors |
| 13 | Independent auditor's report |
| 17 | Consolidated Statement of Financial Activities (including income and expenditure account) |
| 18 | Consolidated Balance Sheet |
| 19 | Charity Balance Sheet |
| 20 | Consolidated Statement of Cashflows |
| 21 | Notes forming part of the financial statements |
| R | Quince | G Kirk |
|---|---|---|
| A | Wayne | A Berry (resigned 16/09/21) |
| B | Littlefair | E Stamper |
| M | Codrington Fernandez | M Redmond |
| B | Howard (Appointed 18/02/21) | S Whybrew (appointed 10/11/21) |
| Risk | Level | Mitigating | Mitigated |
|---|---|---|---|
| action | risk | ||
| Unable to operate the theatre | High | Sufficient funding resources reserved to sustain core | Medium/ |
| physically due to circumstances out | stafffor a period of 6 months, table top exercises to | High | |
| of our control. i.e Pandemic Flu, | identify most likely scenarios and mitigations. | ||
| Natural Disaster | Investigate and take up any and all relevant national & | ||
| local government financial and other support. | |||
| Reduction of revenue grants | High | Continue to work with and build relationships with | Medium |
| funders. | |||
| Additional loss of public subsidy in- | High | Hold regular reviews with funders to assess likelihood | Medium |
| year destabilising the operational | of reductions in funding. Implement an annual | ||
| plan | reserves policy/procedure with a view to gradually | ||
| growing company reserves to balance public subsidy | |||
| over 5 years. | |||
| Salaries & fees falling below industry | Medium | Knowledge of norm rates. Build team approach with | Low |
| norms | staffand maintain overall working environment. | ||
| Child and vulnerable adult protection | High | Theatre Safeguarding Policy. Staff training, DBS | Low |
| Checks. External licensing where required. | |||
| The organisation is unable to meet | Medium | Skills and knowledge sharing sessions held bi- | Low |
| operational objectives due to the | monthly between teams to avoid silo working and | ||
| loss of key staff | single ownership of knowledge |
Claire Sutherland
26/01/22
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | ||
|---|---|---|---|---|---|---|---|
| Note | Funds | Funds | 2021 | Funds | Funds | 2020 | |
| Income from | £ | £ | £ | £ | £ | £ | |
| Grants, donations and | |||||||
| legacies | 2 | 633,667 | 86,171 | 719,838 | 318,247 | 150,215 | 468,462 |
| Othertradingactivities | |||||||
| Fundraising | 8,590 | 8,590 | 120,667 | 120,667 | |||
| Front of House activities | 473 | 473 | 216,221 | 216,221 | |||
| Other Income | 19,018 | 19,018 | 55,648 | 55,648 | |||
| Investments | 416 | 416 | 4,968 | 4,968 | |||
| Other Income | 7 | 340,330 | 340,330 | ||||
| 1,002,494 | 86,171 | 1,088,665 | 715,751 | 150,215 | 865,966 | ||
| Charitableactivities | |||||||
| Operation of theatre and | |||||||
| artistic programmes | 3 | 56,346 | 56,346 | 1,333,832 | 35,813 | 1,369,645 | |
| Total | 1,058,840 | 86,171 | 1,145,011 | 2,049,583 | 186,028 | 2,235,611 | |
| Expenditure on | |||||||
| Raisingfunds | |||||||
| Fundraising costs of grants | |||||||
| and donations | 6 | 116,348 | 116,348 | 98,471 | 98,471 | ||
| Front of House activities | 6 | 3,456 | 3,456 | 111,304 | 111,304 | ||
| Charitableactivities | |||||||
| Operation of theatre and | |||||||
| artistic programmes | 5 | 746,131 | 88,788 | 834,919 | 1,680,254 | 242,023 | 1,922,277 |
| Total | 865,935 | 88,788 | 954,723 | 1,890,029 | 242,023 | 2,132,052 | |
| Net movement of funds in | |||||||
| year | 7 | 192,905 | (2,617) | 190,288 | 159,554 | (55,995) | 103,559 |
| Reconciliation offunds | |||||||
| Total funds brought forward | 487,207 | 4,139,953 | 4,627,160 | 327,653 | 4,195,948 | 4,523,601 | |
| Total funds carried forward | 680,112 | 4,137,336 | 4,817,448 | 487,207 | 4,139,953 | 4,627,160 |
| Note | 2021 | 2020 | |||
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| Fixed assets | |||||
| Tangibleassets | 11 | 4,239,902 | 4,305,223 | ||
| Current assets | |||||
| Stocks | 13 | 3,132 | |||
| Debtors | 14 | 197,299 | 86,986 | ||
| Cashat bank and in hand | 876,724 | 790,312 | |||
| 972,023 | 880,430 | ||||
| Creditors: amounts falling due | |||||
| within one year | 15 | 496,477 | 558,493 | ||
| Net current assets | 577,546 | 321,937 | |||
| Net assets | 4,817,448 | 4,627,160 | |||
| Represented by | |||||
| Funds | |||||
| Unrestricted: - | 17 | ||||
| - General fund | 611,578 | 409,829 | |||
| - Designatedfund | 68,534 | 77,378 | |||
| 680,112 | 487,207 | ||||
| Restrictedfunds | 17 | 4,137,336 | 4,139,953 | ||
| Total funds | 4,817,448 | 4,627,160 |
| Note | 2021 | 2020 | ||||
|---|---|---|---|---|---|---|
| £ | £ | £ | £ | |||
| Fixed assets | ||||||
| Tangibleassets | 11 | 4,239,902 | 4,305,223 | |||
| Investments | 12 | 100 | 100 | |||
| 4,240,002 | 4,305,323 | |||||
| Current assets | ||||||
| Stocks | 13 | 3,132 | ||||
| Debtors | 14 | 197,199 | 86,886 | |||
| Cash at bank and in hand | 876,724 | 790,312 | ||||
| 971,923 | 880,330 | |||||
| Creditors: amounts falling due | ||||||
| within one year | 15 | 496,477 | 558,493 | |||
| Net current assets | 577,446 | 321,837 | ||||
| Net assets | 4,817,448 | 4,627,160 | ||||
| Represented by | ||||||
| Funds | ||||||
| Unrestricted: - | 17 | |||||
| - General fund | 611,578 | 409,829 | ||||
| - Designatedfund | 68,534 | 77,378 | ||||
| 680,112 | 487,207 | |||||
| Restrictedfund | 17 | 4,137,336 | 4,139,953 | |||
| Total funds | 4,817,448 | 4,627,160 |
| 2021 | 2020 | ||
|---|---|---|---|
| Note | |||
| £ | £ | ||
| Cashflows generated by/(used by) operating activities | 24 | 85,996 | (62,611) |
| Cashflows from investing activities | |||
| Interest income | 416 | 4,968 | |
| Purchase of tangible fixed assets | (22,254) | ||
| Net cash provided by investing activities | 416 | 17,286 | |
| Change in cash and cash equivalents in the year | 86,412 | (79,897) | |
| Cash and cash equivalents at the beginning ofthe year | 790,312 | 870,209 | |
| Total cash and cash equivalents at the end of the year | 25 | 876,724 | 790,312 |
| 2 | Income from grants, donations and legacies | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| Funds | Funds | 2021 | 2020 | ||
| Grants | £ | £ | £ | £ | |
| Suffolk County Council | 102,000 | 102,000 | 100,000 | ||
| St Edmundsbury Borough Council | 61,250 | 61,250 | 61,250 | ||
| Cultural Recovery Grant | 220,579 | 220,579 | |||
| Trusts & Foundations | |||||
| Suffolk Community Foundation | 1,600 | 1,600 | 23,288 | ||
| Arts Council England | 34,834 | 48,484 | 83,318 | 62,888 | |
| National Trust | 8,575 | ||||
| St Edmunds Trust | 7,989 | 7,989 | |||
| Alfred Williams Charitable Trust | 2,500 | 2,500 | 500 | ||
| Ridley Godfrey Foundation | 3,000 | ||||
| Theatres Trust | 5,000 | 5,000 | |||
| Community Chest Grant | 5,000 | 5,000 | |||
| Harris Family Trust | 10,000 | 10,000 | |||
| Donations | |||||
| Friends of Theatre Royal | 14,559 | 14,559 | 14,356 | ||
| Others | 165,612 | 8,098 | 173,710 | 154,588 | |
| Sponsorship | 32,333 | 32,333 | 40,017 | ||
| 633,667 | 86,171 | 719,838 | 468,462 | ||
| 3 | Income from charitable activities | ||||
| Unrestricted | Restricted | Total | Total | ||
| Funds | Funds | 2021 | 2020 | ||
| £ | £ | £ | £ | ||
| Professional events | 47,760 | 47,760 | 656,597 | ||
| Pantomime | 503,375 | ||||
| Education programme | 4,330 | 4,330 | 67,978 | ||
| Amateur events | 52,133 | ||||
| Agency events | 5,089 | ||||
| Heritage Tours | 7,320 | ||||
| Other | 4,256 | 4,256 | 5,529 | ||
| 56,346 | 56,346 | 1,369,645 |
| with the use of resources. | ||||
|---|---|---|---|---|
| Fund raising | ||||
| costs of | ||||
| Theatre | grants and | 2021 | 2020 | |
| operation | donations | Total | Total | |
| £ | £ | £ | £ | |
| Support costs | ||||
| Administration staff | 62,551 | 62,551 | 125,102 | 113,180 |
| Administration costs | 569,260 | 3,624 | 572,884 | 320,242 |
| Premises costs | 60,682 | 60,682 | 131,913 | |
| 692,493 | 66,175 | 758,668 | 565,335 |
| Productions | Productions | ||||||
|---|---|---|---|---|---|---|---|
| and | Education | 2021 | 2020 | ||||
| performances | programme | Total | Total | ||||
| £ | £ | £ | £ | ||||
| Professional events | 56,348 | 56,348 | 539,088 | ||||
| Touring productions | |||||||
| Pantomime | (8,451) | (8,451) | 229,868 | ||||
| Education & Community | 33,095 | 33,095 | 166,670 | ||||
| programme | |||||||
| Artistic staff | 23,457 | 7,819 | 31,276 | 113,180 | |||
| Box office | 1,389 | 1,389 | 55,852 | ||||
| Marketing | 11,557 | 5,110 | 16,667 | 140,936 | |||
| Technical | 9,365 | 9,365 | 110,251 | ||||
| Operations | 2,737 | 2,737 | |||||
| Wardrobe | 17,369 | ||||||
| Support costs (note 4) | 604,908 | 87,585 | 692,493 | 549,063 | |||
| 701,310 | 133,609 | 834,919 | 1,922,277 | ||||
| 6 | Analysis of cost of raising funds | ||||||
| Other | Support | 2021 | 2020 | ||||
| Staff costs | costs | costs | Total | Total | |||
| £ | £ | £ | £ | £ | |||
| Fundraising costs of grants | |||||||
| and donations | 46,092 | 4,081 | 66,175 | 116,348 | 98,471 | ||
| Front of house activities | 2,912 | 544 | 3,456 | 111,304 | |||
| 49,004 | 4,625 | 66,175 | 119,804 | 209,775 |
| This has been arrived | at after: | ||
|---|---|---|---|
| Receiving | |||
| 2021 | 2020 | ||
| £ | £ | ||
| Government Grants | - Business Restrictions Grants | 47,286 | |
| - Coronavirus Job Retention Scheme Grants | 293,044 | ||
| Charging | |||
| 2021 | 2020 | ||
| £ | £ | ||
| Depreciation | - Owned | 57,977 | 57,977 |
| Operating leases | - Land & buildings | 16,500 | 18,500 |
| - Plant and machinery | 2,050 | 3,344 | |
| Auditor's remuneration | - Statutory audit of charity & consolidated accounts | 18,530 | 12,61O |
| -Tax advisory | |||
| - Other services | 3,800 | 2,471 |
| follows: | ||
|---|---|---|
| 2021 | 2020 | |
| Number | Number | |
| Full time | 15 | 19 |
| Part time | 42 | 44 |
| -- | ||
| 57 | 63 | |
| Staff costs consist of: | £ | £ |
| Wages and salaries | 619,081 | 792,103 |
| Social security costs | 39,146 | 51,370 |
| Pension costs | 12,638 | 18,211 |
| 670,865 | 861,684 |
| 11 | Tangible assets (Charity and Group) | |||||
|---|---|---|---|---|---|---|
| Long | ||||||
| Leasehold | ||||||
| property | Motor | |||||
| improvements | Vehicles | Equipment | Total | |||
| £ | £ | £ | £ | |||
| Cost | ||||||
| At 1 April 2020 | 5,041,255 | 14,846 | 283,315 | 5,339,416 | ||
| Additions | ||||||
| At 31 March 2021 | 5,041,255 | 14,846 | 283,315 | 5,339,416 | ||
| Depreciation | ||||||
| At 1 April 2020 | 750,942 | 14,846 | 268,405 | 1,034,193 | ||
| Charge for year | 57,977 | 7,344 | 65,321 | |||
| At 31 March 2021 | 808,919 | 14,846 | 275,749 | 1,099,514 | ||
| Net book value - owned assets | ||||||
| At 31 March 2021 | 4,232,336 | 7,566 | 4,239,902 | |||
| At 31 March 2020 | 4,290,313 | 14,91 O | 4,305,223 | |||
| 12 | Investments (Charity only) | |||||
| Total | ||||||
| £ | ||||||
| Cost | ||||||
| 1 April 2020 and 31 March 2021 | 100 | |||||
| Subsidiary | Country | Holding | Principal activity | |||
| Bury St Edmunds Theatre Productions | Limited | England | 100% | Theatre Productions |
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Turnover | 66,077 | 443,046 |
| Profit after tax | ||
| Net Assets | 100 | 100 |
| **13 ** | Stocks {Charity and Group) | ||||
|---|---|---|---|---|---|
| 2021 | 2020 | ||||
£ |
£ | ||||
| Goods forresale | 3,132 | ||||
| **14 ** | Debtors | ||||
| 2021 | 2021 | 2020 | 2020 | ||
| Group | Charity | Group | Charity | ||
| £ | £ | £ | £ | ||
| Tradedebtors | 6,662 | 6,662 | 11,208 | 11,208 | |
| Otherdebtors | 169,348 | 112,658 | 47,019 | ||
| Prepayments and accrued income | 21,289 | 21,289 | 28,759 | 28,759 | |
| Amounts owed by group undertakings | 56,590 | 46,919 | |||
| 197,299 | 197,199 | 86,986 | 86,886 |
| 2021 | 2021 | 2020 | 2020 | |
|---|---|---|---|---|
| Group | Charity | Group | Charity | |
| £ | £ | £ | £ | |
| Tradecreditors | 23,758 | 23,758 | 51,518 | 51,518 |
| Taxationand social security | 10,562 | 10,562 | 20,349 | 20,349 |
| Othercreditors | 17,452 | 17,452 | 22,786 | 22,786 |
| Accruals | 97,454 | 97,454 | 144,081 | 144,081 |
| Deferred income (see note 20) | 347,251 | 347,251 | 319,759 | 319,759 |
| 496,477 | 496,477 | 558,493 | 558,493 |
| At 1 April | At 31 March | ||||
|---|---|---|---|---|---|
| 2020 | Income | Expenditure | Transfers | 2021 | |
| £ | £ | £ | £ | £ | |
| General funds | 409,829 | 1,058,840 | (865,935) | 8,844 | 611,578 |
| Designatedfunds | 77,378 | (8,844) | 68,534 | ||
| 487,207 | 1,058,840 | (865,935) | 680,112 |
| At 1 April | At 31 March | ||||
|---|---|---|---|---|---|
| 2019 | Income | Expenditure | Transfers | 2020 | |
| £ | £ | £ | £ | £ | |
| General funds | 148,929 | 2,049,583 | (1,890,029) | 101,346 | 409,829 |
| Designatedfunds | 178,724 | (101,346) | 77,378 | ||
| 327,653 | 2,049,583 | (1,890,029) | 487,207 |
| At 1 April | Income | Expenditure | At 31 March | ||
|---|---|---|---|---|---|
| 2020 | 2021 | 2021 | Transfers | 2021 | |
| £ | £ | £ | £ | £ | |
| Artisticfund | 35,000 | (1,500) | 33,500 | ||
| Operational fund | 42,378 | (7,344) | 35,034 | ||
| 77,378 | (8,844) | 68,534 | |||
| At 1 April | Income | Expenditure | At 31 March | ||
| 2019 | 2020 | 2020 | Transfers | 2020 | |
| £ | £ | £ | £ | £ | |
| Artisticfund | 75,000 | (40,000) | 35,000 | ||
| Operational fund | 103,724 | (61,346) | 42,378 | ||
| 178,724 | (101,346) | 77,378 |
| At 1 April | At 31 March | |||
|---|---|---|---|---|
| 2020 | Income | Expenditure | 2021 | |
| £ | £ | £ | £ | |
| Capital Development Project Fund | 3,992,427 | (57,977) | 3,934,450 | |
| Access Project Fund | 12,187 | 12,187 | ||
| Beyond Walls Fund | 61,991 | 64,173 | (21,043) | 105,121 |
| Seating Fund | 7,997 | 7,997 | ||
| Small Equipment Fund | 1,162 | (62) | 1,100 | |
| BlackTheatre Live Project Fund | 7,382 | (1,500) | 5,882 | |
| Premier Bar Project Fund | 4,491 | (4,491) | ||
| Youth Bursaries Fund | 1,686 | 1,686 | ||
| Doorstep Project Fund | 13,410 | 500 | 13,910 | |
| RealisingAmbitions Project Fund | 21,085 | 21,085 | ||
| Artistic Directors Fund | 11,060 | 11,060 | ||
| Ickworth Volunteers Project Fund | 3,075 | 3,075 | ||
| Mystery Plays Project Fund | 2,000 | 3,000 | (5,000) | |
| SEN YouthTheatre | 7,989 | 7,989 | ||
| Theatres Trust | 5,000 | (3,206) | 1,794 | |
| Youth/Local Engagement | 10,000 | 10,000 | ||
| 4,139,953 | 86,171 | (88,788) | 4,137,336 | |
| At 1 April | At 31 March | |||
| 2019 | Income | Expenditure | 2020 | |
| £ | £ | £ | £ | |
| Capital Development Project Fund | 4,050,405 | (57,978) | 3,992,427 | |
| Access Project Fund | 17,580 | (5,393) | 12,187 | |
| BeyondWalls Fund | 5,986 | 90,434 | (34,429) | 61,991 |
| Seating Fund | 15,256 | (7,259) | 7,997 | |
| Small Equipment Fund | 1,163 | 1,163 | ||
| BlackTheatre Live Project Fund | 9,382 | (2,000) | 7,382 | |
| Premier BarProject Fund | 6,000 | (1,509) | 4,491 | |
| Youth Bursaries Fund | 4,500 | (2,814) | 1,686 | |
| 200Anniversary Project Fund | 73,614 | 36,118 | (109,732) | |
| Doorstep Project Fund | 12,062 | 21,053 | (19,705) | 13,410 |
| RealisingAmbitions Project Fund | 21,288 | (204) | 21,084 | |
| Artistic Directors Fund | 11,060 | 11,060 | ||
| lckworth Volunteers Project Fund | 3,075 | 3,075 | ||
| Mystery Plays Project Fund | 3,000 | (1,000) | 2,000 | |
| 4,195,948 | 186,028 | (242,023) | 4,139,953 |
| General | Designated | Restricted | Total | |
|---|---|---|---|---|
| Funds | Funds | Funds | 2021 | |
| £ | £ | £ | £ | |
| Tangiblefixed assets | 297,885 | 7,567 | 3,934,450 | 4,239,902 |
| Net current assets | 313,693 | 60,967 | 202,886 | 577,546 |
| 611,578 | 68,534 | 4,137,336 | 4,817,448 | |
| General | Designated | Restricted | Total | |
| Funds | Funds | Funds | 2020 | |
| £ | £ | £ | £ | |
| Tangiblefixed assets | 297,885 | 14,911 | 3,992,427 | 4,305,223 |
| Net current assets | 111,944 | 62,467 | 147,526 | 321,937 |
| 409,829 | 77,378 | 4,139,953 | 4,627,160 |
| 19 | Analysis of charity net assets between funds | ||||
|---|---|---|---|---|---|
| General | Designated | Restricted | Total | ||
| Funds | Funds | Funds | 2021 | ||
| £ | £ | £ | £ | ||
| Tangible fixed assets | 297,885 | 7,567 | 3,934,450 | 4,239,902 | |
| Investments | 100 | 100 | |||
| Net current assets | 313,593 | 60,967 | 202,886 | 577,446 | |
| 611,578 | 68,534 | 4,137,336 | 4,817,448 | ||
| General | Designated | Restricted | Total | ||
| Funds | Funds | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Tangible fixed assets | 297,885 | 14,911 | 3,992,427 | 4,305,223 | |
| Investments | 100 | 100 | |||
| Net current assets | 111,844 | 62,467 | 147,526 | 321,837 | |
| 409,829 | 77,378 | 4,139,953 | 4,627,160 | ||
| 20 | Deferred income (Charity and Group) | ||||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Balance at 1 April | 319,759 | 531,337 | |||
| Amount released in year | (139,611) | (531,337) | |||
| Amount deferred in year | 167,103 | 319,759 | |||
| 347,251 | 319,759 |
| are as follows: | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Amounts due: | ||
| within one year | 2,016 | 2,000 |
| between one and five years | 6,048 | 7,167 |
| 8,064 | 9,167 |
| are as follows: | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Amounts due: | ||
| within one year | 16,500 | 18,500 |
| between one and five years | 50,000 | 50,000 |
| Afterfive years | 862,500 | 875,000 |
| 929,000 | 943,500 |
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Costs recharged | 76,748 | 490,065 |
| Management charges paid | 67,077 | 443,046 |
| Owed by BSE Theatre Productions Limited | 56,690 | 47,019 |
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Net movement in funds | 190,288 | 103,559 |
| Interest received | (416) | (4,968) |
| Depreciation | 65,321 | 65,321 |
| Decrease in stock | 3,132 | 3,333 |
| (Increase) in debtors | (110,313) | 79,803 |
| Increase in creditors | (62,016) | (309,659) |
| Net cash flow from operating activities | 85,996 | (62,611) |
| 25 | Analysis of changes in net funds | |||
|---|---|---|---|---|
| 2020 | Cash Flow | 2021 | ||
| £ | £ | £ | ||
| Cash at bank and in hand | 790,312 | 86,412 | 876,724 |
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Collected | 63,121 | |
| Fees charged | 4,011 | |
| Amount included in OtherCreditors at 31 March | 3,182 |