2021-03-31-accounts - The Havering Theatre Trust Limited

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		Page
Reference and Administmtrve Details
Report ofthe Trustees		2to 11
Statement ofTrustees Responsibilities		12
Report ofthe Independent Auditors		13to 15
Consolidated Statement ofFinancial	Activities	16
Charity Balance Sheet		17
Consolidated Balance Sheet
Consolidated Statement ofCash Flows		19
Notes to the Consolidated Financial	Statements	20to 29

ni(ar	, , ey cvy, ea Responsibility and Monitoring. All are ed by the Board.
I.	Financia1 Sustainability
2.	Deliver activity to get audiences back into theatre going as soon as possible. Delivers QAdapt change progmmme that will sustain levels ofac(ivity within reduced overheads. Transform the Board, sub committees and other governance structures so (ha( (hey can increasingly engage and be more effective in Rndmising. Programme
	Keep celebraling gash working class stories through Essex on Stage projects. Develop QTH's role in touring, strategically and commercially. Take QTH's talent development offer toa growing network ofcreative practitioner's further, priori(izing support for diverse artists.
3.	Build on QTH's digital innovation of2020. Participation
4.	Focus on reaohing and articulating reach tounder represented and under served people. Sustain oreative digital participatory activity, in response tonccd and removing barriers ofdigital poverty. Deliver activity that ensures older people retain access to theatre. Audience Development
5.	Increasingly ensure work is seeu by new audionoes, including under mpresented mid under served people, harnessing the 2019rapid growth iu new hookers. Increase (I(e amoun( ofnational and indusuy media coverage for QTH's work. Organisation
	Focus recruitment and progression on diversifying the workforce and developing a culture that retams new recnuts.
6.	Transform the Board, sub committees and other governance a(rue(urea so that they are more diverse. Develop the role ofyoung po(pie in enabling change within QTH. Develop the strategy and mnbition for the QNext capital prog(s(mmc. Impaot and influence
	Maximise the relationship between Havering Changing and QTH's audience development, learning snd psrticipa(ion and talent development work. Further explore and establish QTII's Outer East London and South Essex sub regional significance. Respond to opportuni(ies to but ld on recen( successful enablhtg Farmers(slps around Havering cul(uml strategy and Creative People and Places, to develop new partnership delivery models

	Notes	Unrestricted	Designated	Restricted	31.3.21	31.3.20
		funds	Funds	funds	Total funds	Total funds
INCOME FROM:			g			g
Donations Charitable activities Investment income Other mcome		59,146 952,746 2,263 434,636		854,212 37,417	59,146 1,806,958 2,263 472,053	142,291 4,303,124 3,296 148,490
TOTAL		1,448,791		891,629	2,340,420	4,597,201
EXPENDITURE ON:
Charitable actrvities	7	1,333,976		460,622	1,794,598	4,049,824
TOTAL		1,333,976		460,622	1,794,598	4,049,824
NET INCOME/(EXPENDITURE)		114,815		431,007	545,822	547,377
Transfers between funds		(73,524)		73,524
NET MOVEMENT IN FUNDS		41,291		504,531	545,822	547,377
Total funds brought forward		200,227		804,253	1,004,480	457,103
TOTAL FUNDS CARRIED FORWARD		241,518		1,308,784	1,550,302	1,004,480

				Charity Balance Sheet
				At 31March 2021
				2021			2020
			Notes
FIXED	ASSETS
Tangible	assets		11		1,117,049			716,778
Investment			12		100			100
					1,117,149			716,878
CURRENT ASSETS
Stock			13	10,337			13,867
Debtors			14	91,921			393,821
Cash at bank				854,934			650,273
				957,192		I	057 961
CREDITORS
Amounts	falling due within	one year	15	(524,039)		(770,359)
NET CURRENT ASSETS					433,153			287,602
NET ASSETS					1,550,302			1,004,480
FUNDS			18
Unrestricted funds Resnicted funds					241,518 1,308,784			200,227 804,253
					1,550,302			1,004,480

	The	Havering Th	eatre Trust Limited
		Consolidated	Balance Sheet
		At 31March 2021
			2021	2020
	Notes
FIXEDASSETS
Tangible assets			1,117,049		716,778
			1,117,049		716,778
CURRENT ASSETS
Stocks	13		10,337	13,867
Debtors	14		91,921	393,821
Cash at bank		854,934		650,273
		957,192		1,057,961
CREDITORS
Amounts falling due within one year	15	(523,939i		(770,259)
NET CURRENT ASSETS			433,253		287,702
NET ASSETS			1,550,302		1,004,480
	18
Unrestricted funds Restricted funds			241,518 1,308,784		200,227 804,253
			1,550,302		1,004,480

				2021	2020
			Notes
Cash flows from operating	activities
Cash generated from operations				753,948	699,774
Net cash intlow from operating activities				753,948	699,774
Investing activities
Purchasing oftangible fixed Interest received	assets			(551,550) 2,263	(660,967) 3,296
Net cash used in investing	activities			(549,287)	(657,671)
Net increase in cash and cash equivalents				204,661	42,103
Cash sud cash equivalents at beginning		ofyear		650,273	608,170
Cash and cash equivalents	at end of	year		854,934	650,273
				2021	2020
Net income for the year				545,822	547,377
Interest Received
Loss on fixed asset disposal Depreciation oftangible fixed assets Decrease in stock				(2.263) 151,279	(3,296) 361 98,146
Decrease in debtors				3,530	4,035
Decrease in creditors				301,900	203,640
				(246,320)	(150,489)
Cash inflow from operations				753,948	699,774

				Total
		Unrestricted	Restricted	2021	2020
		0			0
Grants Boxoffice Bar sales Cafe bar sales Pmgramme sales Confectionery sales Foyer events Theatre lettings Outreach Produotion income Public acts		819,720 36,890 2,806 5,918 353 4,617 7,907 30,465	854,212	1,673,932 36,890 2,806 5,918 353 4,617 7,907 30,465	1,238,796 1,746,880 180,885 164,640 8,589 61,924 45,127 112,449 70,910 239,000
Commissioned Salary recharge	services	15,450 28,620		15,450 28,620	405,304 28,620
		952,746	854,212	1,806,958	4,303,124

Grants received, included in the above, are as follows:
	2021	2020
London Borough ofHavering	601,167	451,687
Arts Council England	868,287	641,776
C1othworkers Award		75,000
Clarion Futures Tesco	8,333	5,333
		4,000
Equity Charitable Trust Veolia	50,000	5,000 50,000
Fowler, Smrth 41Jones Rotary Club ofBrentwood City Bridge Trust	100,000	5,000 1,000
London Commumty Response Fund	15,145
Romford BID	11,000
Paul Hamlyn Foundation	20,000
	1,673,932	1,238,796

		2021	2020
Deposit	account interest	2,263	3,296
OTHER	INCOME
		2021	2020
Furlough grants TTR claims		407,377
Insurance claim income Other mrscellaneous income		21,142 37,417 6,117	112,010 36,480
		472,053	148,490

		Direst	Support costs	Total	Direct	Support costs	Total
		costs	(see note 7)	2021	costs	(see note 7)	2020
						8
Theaue operations		1,354,525	427,926	1,782,451	3,564,679	474,026	4,038,705
Governance	costs		12,147	12,147		11,119	11,119
		1,354,525	440,073	1,794,598	3,564,679	485,145	4,049,824
UPPORT	COSTS
				Total			Total
			Other	2021	Finance	Other	2020
							0
Theatre operations Auditors remuneration		5,319	422,607 12,147	427,926 12,147	14,398	459,628 11,119	474,026 11,119
		5,319	434,754	440,073	14,398	470,747	485,145

STAFF COSTS
				2021	2020
Wages and salaries Social security costs Pension costs				939,265 59,503	1,594,657 86,794
				15,579	30,751
				1,014,347	1,712,202
he average monthly	number ofemployees	during	the year was as follows;
				2021	2020
				50	79

Group and charity
			Leasehold	Computer
			improvements	equipment	Total
COST At I April 2020			I 775,619	etc 0 78,298	853,917
Addiuons			551,550		551,550
At 31March 2021			1,311 l69	78,298	1,405,467
DEPRECIATION
At I April 2020			103,937	33,202	137,139
Charge for the year			138,667	12,612	151,279
At 31March 2021			242,604	45,814	288,418
NKT BOOKVALUE
At 31March 2021			1,084,565	32,484	1,117,049
At 31March 2020			671,682	45,096	716,778
INVESTMENTS
Charity				2021	2020
				I
Investment in Homchurch	Producuons	Limited		100	100

						2021	2020
						I
Stocks
						10,337	13,867
EBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
				Charity		Group
				2021	2020	2021	2020
Trade debtors Amounts due	&om Hornchurch	Productions	Lunited	I 5,844 23,399	0 60,683 182,416	5,844	0 60,683
Prepayments Other debtors	and accrued income			62,400 278	146,899 3,823	62,400 23,677	146,899 186,239
				91,921	393,821	91,921	393,821

			Charity		Group	Group
		2021		2020	2021	2020
Trade creditors		44,	184	144,714	44,184	144,714
Accruals and deferred income VAT control Tax and social security Other creditors		428,056 11,373 40,426		488,932 34,409 18,543 83,761	428,056 11,373 40,326	488,932 34,409 18,543 83,661
		524,039		770,359	523,939	770,259
FINANCIAL INSTRUMENTS
Group					2021	2020
Carrying amount	offinancial assets
Debt instruments	measured at amortised cost				31,774	64,506
Carrying amount	offinancial liabilities
Measured at amortised cost					248,215	422,933
Charity					2021	2020
Carrying amount	offinancial assets
Debt instruments measured at amortised cost					55,173	246,922
Carrying amount	offinancial liabilities
Measured at amcrtised cost					248,315	423,033
OPERATING LEASE COMMITMENTS
At tbe reporting end csnostiable operating	date the charity bad outstanding leases, which fall due as follows	commitments	for future	minimum	lease agreements	under uon-
Group and charity					2021	2020
Due within 1year Due between 2 and Due in over 5 years	5 years				35,393 117,540 116,667	28,060 103,825 141,667
					269,600	273,552

2021
			At 1.4.20	Income	Expenditure	Transfers	At31.3.21
			K
Unrestricted funds
General fund			200,227	1,448,791	(1,333,976)	(73,524)	241,518
Total unrestricted		funds	200,227	1&448,791	(1,333,976)	(73,524)	241,518
Restricted funds
Maintenance grant Education grant London Community Response Fund Conditions Survey Work Essex on stage Havering changing Q New Fixed Assets			89,914 60,523 (6,846) 660,662	42,000 20,875 15,145 31,352 292,933 489,324	(42,000) (20,875) (15,145) (31.352) (36,245) (180,535) (4,452) (130,018)	(478,026) 551,550	53,669 ]72,921 1,082,194
Total restricted funds			804453	S91,629	(460,622)	73+24	1408&784
TOTAL FUNDS			1,004,4S0	2,340,420	(1,794,598)		1,550,302
2020
			At 1.4.19	Income	Expenditure	Transfers	At 31.3.20
					8
Unrestricted funds
General fund			277,570	3,753,191	(3,83 1,655)	1,121	200,227
Designated funds
Q New Q Transform			10,000 25,000		(11,379)	(10,000) (13,621)
Total unrestricted	funds		312,570	3,753,191	(3&843&034)	(22,500)	200,227
Restricted funds
Maintenance grant Edncanon grant Essex on stage Havering changing Q New Fixed Assets			58,917 7,410 78,206	42,000 20,875 75,000 85,333 620,802	(42,000) (20,875) (44,003) (24,810) (235) (74,867)	(634,823) 657,323	89,914 60,523 (6,846) 660,662
Total restricted funds			144,533	844,010	(206,790)	22,500	804,253
TOTAL FUNDS			457,103	4,597,201	(4,049,S24)		1,004,480

Group		Restricted	Unrestricted
		funds	funds	Total
Fund balances at31March 2021are represented	by:	8	8
Tangible fixed assets Stock		1,082,194	34,855	1,117,049
Debtors			10,337	10,337
Cash at bank Creditors due m one year		226,590	91,921 628,344 (523,939)	91,921 854,934 (523,939)
		1,308,784	241,518	1,550,302
Charity		Restricted	Unrestricted
		funds	funds	Total
Fund balances at 31March 2021are represented	by:
Tangible fixed assets Investments		1,082,194	34,855	1,117,049
Stock			100	100
Debtors			10,337	10,337
Cash at bank Creditors due in one year		226,590	91,921 628,344 (524,039)	91,921 854,934 (524,039)
		1,308,784	241,518	1,550,302

	Unrestricted	Designated	Restricted	31.3.20
	funds	Funds	funds	Total funds
INCOME FROM:
Donations and legacies Charitable activities Investment mcome Other income	79,175 3,522,230 3,296 148,490		63,116 780,894	142,291 4,303,124 3,296 148,490
Total	3,753,191		844)010	4,597,201
EXPENDITURE ON:
Charitable activities	3,831,655	11,379	206,790	4,049,824
Total	3,831,655	11,379	206,790	4,049,824
NET INCOME	(78,464)	(11,379)	637,220	547,377
Transfers between funds	1,121	(23,621)	22,500
NET MOVEMENT IN FUNDS	(77,343)	(35,000)	659,720	547,377
Total funds brought forward	277,570	35,000	144,533	457,103
TOTAL FUNDS CARRIED FORWARD	200,227		804,253	1,004,480