## 

## 

## 

|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|



## 

## 

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## 



## 



## 

## 

## 

## 

|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||






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## 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|