``` REGISTERED COMPANY NUMBER: 00815227 (England and Wales) REGISTERED CHARITY NUMBER: 253606 ``` ``` REPORT OF THE TRUSTEES AND ``` ``` FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 ``` ``` FOR ``` ``` SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE ``` ``` Fortus Audit LLP Chartered Accountants & Statutory Auditors 5&6 Manor Court Manor Garth Scarborough North Yorkshire YO11 3TU ``` ``` SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE ``` ## **`CONTENTS OF THE FINANCIAL STATEMENTS For The Year Ended 31 March 2022`** |||**`Page`**|| |---|---|---|---| |**`Report of the Trustees`**|`1`|`to`|`6`| |**`Report of the Independent Auditors`**|`7`|`to`|`9`| |**`Statement of Financial Activities`**||`10`|| |**`Balance Sheet`**||`11`|| |**`Cash Flow Statement`**||`12`|| |**`Notes to the Cash Flow Statement`**||`13`|| |**`Notes to the Financial Statements`**|`14`|`to`|`26`| ``` SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE ``` ``` REPORT OF THE TRUSTEES For The Year Ended 31 March 2022 ``` ``` ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,present their reportwiththefinancialstatementsofthecharityfortheyearended31March2022.Thetrustees have adoptedtheprovisionsofAccountingandReportingbyCharities:StatementofRecommended Practice applicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ``` ## **`OBJECTIVES AND ACTIVITIES`** ## **`Vision`** ``` Bold, relevant and surprising theatre which inspires and entertains. ``` ## **`Mission`** - `We will develop an artistically led, forward looking and relevant theatre which is served by robust operational plan.` - `We will grow a family of patrons for a trusted Stephen Joseph Theatre brand with the hallmarks of quality, relevance, accessibility, diversity and surprise.` - `We will raise aspiration through great art and tell stories which reflect the diverse lives of our locale our region and our country.` - `We will use high quality, relevant and surprising art to build stronger, deeply engaged and loyal audiences.` - `We will invest in our people, developing local skills, knowledge and aspiration.` - `We will think commercially and work in partnership, harnessing our expertise to collaborate and innovate.` ## **`Objectives`** - `Investing in the art` - `Delivering a strategic approach to audience engagement` - `Strengthening our financial position and management` - `Using collaboration to expand our business` - `Thinking commercially and exploiting our assets - Enterprise` - `Become a learning organisation` ## **`Public benefit`** ``` Asacharity,andwithregardtoCharityCommissionguidance,thetrusteesrecognisetheTrust'sduty to carryoutitsoperationsforthebenefitofthepublic.Inparticularthetrusteesconsiderthattheworkof the Trustinthelastyearhasadvancedthearts,cultureandheritageoftheBoroughofScarboroughand its region for the benefit of a broad audience. ``` ``` Page 1 ``` ``` SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE ``` ## **`REPORT OF THE TRUSTEES For The Year Ended 31 March 2022`** ## **`ACHIEVEMENT AND PERFORMANCE`** ## **`Charitable activities`** ``` Afteradifficult2020/21-throughoutwhichperiodweremainedinlockdownforover50%ofthetime- we wereatlastabletore-openinMay2021.Wewerehoweveronlyabletooperateat50%ofcapacity until ourChristmasshow-duetosocialdistancingregulations-whichobviouslyhadanimpacton both audiencenumbersandonboxofficeincome.Withinthoselimitationshoweverwestillachieveda number ofsuccesses:ourAyckbournpremiereofTheGirlNextDoorsignificantlyexceededtargetandwas hailed asoneofthefirstproductionstoreflecttheCovidpandemic;andouradaptationofthebest-selling Ben MyersnovelTheOffingwasasell-out,receivingafantasticpublicresponseandaringing endorsement fromtheauthorhimself.Unfortunately,Covidcontinuedtoimpactourprogramme,withanumber of performanceslostonbothoursummerco-productionofHomeI'mDarlingandourChristmasshow Jack andtheBeanstalk.Overtheyearwemanagedtoincreaseticketsalestojustover25,000,still considerably lower than pre-pandemic levels but building slowly from the previous year. ``` ``` Covidalsocontinuedtoimpactonstaffandaudiencebehaviours.Althoughallstaffreturned from furloughduringtheyear,therewasanincreaseinpeopleworkingflexibly,withmostofficestaffworking at leastoneortwodaysaweekfromhome;virtualmeetingsalsocontinuedtobeafeatureofthe working day,althoughthisdidhavetheadvantageofsupportingmoreregularcontributionsfrom board members/staff/collaboratorswholivedsomedistancefromthetheatre.Wesawouraudiences returning toliveperformanceslowlyandinsmallernumbers;somethingreflectedacrosstheindustry,witha general recognitionthattheatrehasprobablypermanentlylostapproximately15%ofpreviousaudiences. This underlinestheimportanceoftheworkwecarriedoutovertheyearfocusedaround audience engagementanddevelopment,supportedbyafurthergrantfromtheCultureRecoveryFund.Over 21/22 thisworkincludedarebrandoftheorganisation,thedevelopmentofanewwebsite(tobelaunched in thenewfinancialyear)andinvestmentinanewaudiencesegmentationapproachwhichwillallowus to tailorourcommunicationsinamuchmorestrategicandtargetedway.Wealsoconfirmedthe permanent role of Digital Media Producer, allowing us to continue to grow our online presence and reach. ``` ``` Havingmovedourparticipatoryworkonlineduringlockdown,21/22sawagradualreturnto in-person sessionsandtopre-pandemiclevelsofattendance.Wealsoincreasedtheworkwedidinschools,with a particularfocusonaddressingtheimpactCovidhadhadontheemotionalwell-beingofchildren and youngpeople.Oneexternallyfundedproject(supportedbyChildandAdolescentMentalHealth Services) wascreatedtohelpbuildemotionalresilienceinchildrenandyoungpeople;usingan evaluation techniqueknownasBoxallprofiling,wewereabletoseea79%improvementinparticipants'abilityto give purposefulattentionanda45%improvementinemotionalsecurity.Wealsosecuredfundingfrom the OpportunityAreasprogrammetoworkwithEarlyYearspupilsacrossfiveschoolsintheborough; the projectsawasignificantimprovementinparticipants'listeningandunderstandingskillsandthe funding has now been extended for a further year to allow us to work with additional schools. ``` ``` Wecontinuedtodevelopourcivicrolewithintheboroughandtosupportthecouncilinits ambitious regenerationplans.InourroleasChairofCOAST(theLocalCulturalEducationand Community Partnership)weoversawthecommissioningofaCulturalStrategyforSBCandarenowworkingwith them tohelpdeliverspecificaspects.WewerealsokeycontributorstotheStrongerTownsFundingbid, in particularinitiatingandthenleadingonplansforayear-roundculturalfestival-TheScarboroughFair - which has now received confirmed funding and will launch in 2023. ``` ``` Ourdonorsandmemberscontinuedtobeincrediblygeneroustousthroughouttheyearandhelped us raiseatotalof£141,484againstouroriginalbudgetof£110,000Muchofthisincomewas unrestricted, givingustheflexibilitytoinvestfundswheremostneededandhelpingustogrowourprogrammeof new writing as well as our participatory programme in specific communities. ``` ``` Page 2 ``` ``` SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE ``` ## **`REPORT OF THE TRUSTEES For The Year Ended 31 March 2022`** ``` Weremaingratefultoourtworevenuefundersfortheircontinuingsupport.Ourfour-year funding agreementfromArtsCouncilEnglandwasextendedbyoneyearinresponsetothedifficultiescreated by thepandemic,takingthatagreementtotheendofMarch2023.Afundingapplicationfora further three-yearagreementwassubmittedinearly2022/23andadecisionisawaitedinOctober2022. Having securedconfirmationofongoingfundingfromScarboroughBoroughCouncilfor2022/23wewere invited toapplyforafurtherthreeyearstobringthisfundinginlinewiththatofACE;wereceivedconfirmation of thisfundingatthestartof2022/23.ThiswasparticularlywelcomeinlightoftheLocal Government Reorganisationthatcommencedin2021/22andthatwillmeanthatScarboroughBoroughCouncil will ceasetoexistattheendofMarch2023atthepointatwhichthenewunitaryauthorityofNorth Yorkshire Councilcomesintobeing.TheagreementwithSBChasgiventhetheatrethesecurityofknowingthat its localauthorityfundingisinplaceuntilatleast2026,bywhichpointwehopewewillhaveestablished a strong relationship with NYC. ``` ## **`FINANCIAL REVIEW`** ## **`Financial review`** ``` TheTrustmadeadeficitfortheyearonunrestrictedfundsof£25,404.Theclosingunrestrictedreserves were £666,829andtotalreserves£1,163,253Aconsequenceofthecurrentlevelofreservesandmore stable financialpositionwillenabletheTrusttodevelopwithconfidenceitsdynamicartisticprogramme. During the year a historic over statement of £12,058 of income was identified and disclosed to the auditors. ``` ## **`Principal funding sources`** ``` TheTrustsfundingforitscharitableoperationscontinuedtobeprimarilythroughACEand Scarborough BoroughCouncil.However,fundingtoenablespecificartisticprojectshasbeenreceivedfroma number ofindividualdonorsandlocalbusinesses;this,togetherwithanumberofone-offlegaciesand the continued support of our regular donors all contributed to the Trust's financial viability. ``` ## **`Investment policy and objectives`** ``` UndertheMemorandumandArticlesofAssociation,thecharityhasthepowertoinvestinanyway the trustees wish. ``` ``` TheTrusteeslooktomaintainanappropriatelevelofliquidityincashbalancesforthe operating requirementsoftheCharity.FundsinexcessofthoserequiredfortheCharity'sshort-term operating requirementareinvested,onourbehalf,byCCLA.ThefundsmanagedbyCCLAareheldintwo separate portfolioswithdifferentinvestmentcriteria.Bothportfoliosareregardedascautiousandaimat providing growthfortheCharity'sinvestment.InvestmentaccountdecisionswillbemadebytheBoardbasedon a recommendation from the Chair and the Chair of the Finance Task Group. ``` ## **`Reserves policy`** ``` Thetrusteeshaveexaminedtherequirementsforreservesinlightofthemainriskstothecharity. Sufficient securedfundingisinplacetoensurethatthetheatreisabletocontinuetooperateandbeenjoyedby its stakeholders.ItisthepolicyofScarboroughTheatreTrusttoholdreservesequivalentto3-6 months operating costs. ``` ## **`FUTURE PLANS`** ``` TheTrust'spolicycontinuestobeoneofmaintainingfinancialviabilityalongsideitsstrongartistic vision. Havingachievedagreedlevelsofunrestrictedreserves,theTrusthavedrawnupplanstoestablish three Designatedreservestosupportspecificinitiativesfelttobekeytothefuturehealthofthetheatre: a Governance,Legal&HRFund;anAudienceEngagementFund;andaDynamismFund.Thislatter reserve willbeinlinewithArtsCouncilEnglandInvestmentPrinciplesandwillgivethetheatretheability to innovateandtogrow.Alongsidethesemeasures,aprudentapproachwillcontinuetobe adopted towardsbudgetingandsettingincometargetsfortheannualprogrammeofworkinlightofslower growth, post-pandemic,toensurethatthetheatrecancontinuetocreatehigh-qualityworkwithinits financial parameters. ``` ``` Page 3 ``` ``` SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE ``` ## **`REPORT OF THE TRUSTEES For The Year Ended 31 March 2022`** ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** ## **`Governing document`** ``` ScarboroughTheatreTrustLimitedisacompanylimitedbyguaranteegovernedbyitsMemorandum and ArticlesofAssociationdated11August1964andamendedtoallowforcurrentgovernance arrangements on 29 August 2007. It is registered as a charity with the Charity Commission. ``` ## **`Appointment of new trustees`** ``` AssetoutintheArticlesofAssociationthechairoftrusteesisnominatedbytheBoard.North Yorkshire CountyCouncilnominatesonetrustee.Allmembersarecirculatedwithinvitationstonominate trustees priortotheAGMadvisingthemoftheretiringtrusteesandrequestingnominationsfortheAGM. When considering trustees, the Board has regard to the requirement for any specialist skills needed. ``` ## **`Organisation`** ``` Theboardoftrusteesadministersthecharity.Theboardmeetsquarterlyandthereisa sub-committee coveringfinancewhichmeetsquarterly.Theboardestablishedanominationscommitteeresponsible for developingtheskillsanddiversityofthetrusteemembershipandforplanningrecruitmentand succession planning. ``` ## **`Trustee induction and training`** ``` Newtrusteesundergotrainingtobriefthemontheirlegalobligationsundercharityandcompanylaw, the contentoftheMemorandumandArticlesofAssociation,thecommitteeanddecisionmaking processes, thebusinessplanandrecentfinancialperformanceofthecharity.Trusteesareactivelyencouraged to attendappropriateexternaltrainingeventswherethesewillfacilitatetheundertakingoftheirrole. In addition, specific theatre finance training is given to those joining the Finance sub-committee. ``` ## **`Key management remuneration`** ``` Thetrusteesconsiderthattheboardalongwiththeseniormanagementteamcomprisethe key managementpersonnelofthecharityandareinchargeofdirectingandcontrolling,running and operatingtheTrustonadaytodaybasis.Allthetrusteesgivetheirtimefreelyandnoneare remunerated. Detailsofexpensesreimbursedduringtheyearareshowninthenotestotheaccounts.Thepayof senior staffisreviewedannuallyandnormallyincreasedinaccordancewithaverageearnings.Inviewof the natureofthecharity,thetrusteesbenchmarkagainstpaylevelsinothersimilarorganisationsintheNorth of England to ensure that the remuneration is fair and not out of line with that generally paid for similar roles. ``` ## **`Risk management`** ``` The trustees have a risk management strategy which comprises: ``` - `a quarterly review of the risks the charity may face, better facilitated by a formalised risk register which is updated regularly;` - `the establishment of systems and procedures to mitigate those risks identified in the register; the implementation of procedures designed to minimise any potential impact on the charity` - `- should` - `those risks materialise.` ``` Historically,particularattentionhasfocusedonnonfinancialrisksarisingfromfire,healthandsafety of artistsandaudience,managementofperformingrightsandfoodhygiene.Akeyelementin the managementoffinancialriskistheestablishmentofreservesandtheregularreviewofareservespolicy by trustees. ``` ## **`REFERENCE AND ADMINISTRATIVE DETAILS`** ## **`Registered Company number`** ``` 00815227 (England and Wales) ``` ## **`Registered Charity number`** ``` 253606 ``` ``` Page 4 ``` ``` SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE ``` ## **`REPORT OF THE TRUSTEES For The Year Ended 31 March 2022`** ## **`Registered office`** ``` Stephen Joseph Theatre Westborough Scarborough North Yorkshire YO11 1JW ``` ## **`Trustees`** ``` Mr J G H L Armistead (resigned 3.12.21) Ms H Boaden Ms K A Carmichael Mr D A Chance (appointed 2.9.22) Ms C Fitzpatrick Mr C N Groom (resigned 3.12.21) Mr A J B Smith Mr M J Wilkinson Mr A H Wilson Mr J Lee Mr R S Lumby Ms S K S Wright Mr D T Warner Ms A Donkor Mr J Wilkinson ``` ## **`Company Secretary`** ``` Ms C Routh ``` ## **`Auditors`** ``` Fortus Audit LLP Chartered Accountants & Statutory Auditors 5&6 Manor Court Manor Garth Scarborough North Yorkshire YO11 3TU ``` ## **`Joint Chief Executives`** ``` Ms C Routh Mr P Robinson ``` ## **`Bankers`** ``` Barclays Bank Plc St. Nicholas Street Scarborough YO11 2ZL ``` ## **`Investment Managers`** ``` CCLA Investment Management Ltd 85 Queen Victoria Street London EC4V 4ET ``` ## **`STATEMENT OF TRUSTEES' RESPONSIBILITIES`** ``` Thetrustees(whoarealsothedirectorsofScarboroughTheatreTrustLimitedforthepurposesof company law)areresponsibleforpreparingtheReportoftheTrusteesandthefinancialstatementsin accordance withapplicablelawandUnitedKingdomAccountingStandards(UnitedKingdomGenerally Accepted Accounting Practice). ``` ``` Page 5 ``` ## **`SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE`** ``` REPORT OF THE TRUSTEES For The Year Ended 31 March 2022 ``` ## **`STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued`** ``` Companylawrequiresthetrusteestopreparefinancialstatementsforeachfinancialyearwhichgive a trueandfairviewofthestateofaffairsofthecharitablecompanyandoftheincomingresources and applicationofresources,includingtheincomeandexpenditure,ofthecharitablecompanyfor that period. In preparing those financial statements, the trustees are required to ``` - `select suitable accounting policies and then apply them consistently;` - `observe the methods and principles in the Charity SORP;` - `make judgements and estimates that are reasonable and prudent;` - `prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.` ``` Thetrusteesareresponsibleforkeepingproperaccountingrecordswhichdisclosewith reasonable accuracyatanytimethefinancialpositionofthecharitablecompanyandtoenablethemtoensure that thefinancialstatementscomplywiththeCompaniesAct2006.Theyarealsoresponsiblefor safeguarding theassetsofthecharitablecompanyandhencefortakingreasonablestepsfortheprevention and detection of fraud and other irregularities. ``` ``` In so far as the trustees are aware: ``` - `there is no relevant audit information of which the charitable company's auditors are unaware; and` - `the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.` ## **`AUDITORS`** ``` Theauditors,FortusAuditLLP,willbeproposedforre-appointmentattheforthcomingAnnual General Meeting. ``` ``` Approved by order of the board of trustees on ............................................. and signed on its behalf by: ``` ``` .................................................................... Ms C Routh - Secretary ``` ``` Page 6 ``` ## **`REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF`** ## **`SCARBOROUGH THEATRE TRUST LIMITED`** ## **`Opinion`** ``` WehaveauditedthefinancialstatementsofScarboroughTheatreTrustLimited(the'charitable company') fortheyearended31March2022whichcomprisetheStatementofFinancialActivities,theBalance Sheet, theCashFlowStatementandnotestothefinancialstatements,includingasummaryof significant accountingpolicies.Thefinancialreportingframeworkthathasbeenappliedintheirpreparation is applicablelawandUnitedKingdomAccountingStandards(UnitedKingdomGenerally Accepted Accounting Practice). ``` ## `In our opinion the financial statements:` - `give a true and fair view of the state of the charitable company's affairs as at 31 March 2022 and of its 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 Generally Accepted Accounting Practice; and` - `have been prepared in accordance with the requirements of the Companies Act 2006.` ## **`Basis for opinion`** ``` WeconductedourauditinaccordancewithInternationalStandardsonAuditing(UK)(ISAs(UK)) and applicablelaw.Ourresponsibilitiesunderthosestandardsarefurtherdescribedinthe Auditors' responsibilitiesfortheauditofthefinancialstatementssectionofourreport.Weareindependentof the charitablecompanyinaccordancewiththeethicalrequirementsthatarerelevanttoourauditof the financialstatementsintheUK,includingtheFRC'sEthicalStandard,andwehavefulfilledourother ethical responsibilitiesinaccordancewiththeserequirements.Webelievethattheauditevidencewe have obtained is sufficient and appropriate to provide a basis for our opinion. ``` ## **`Conclusions relating to going concern`** ``` Inauditingthefinancialstatements,wehaveconcludedthatthetrustees'useofthegoingconcern basis of accounting in the preparation of the financial statements is appropriate. ``` ``` Basedontheworkwehaveperformed,wehavenotidentifiedanymaterialuncertaintiesrelating to eventsorconditionsthat,individuallyorcollectively,maycastsignificantdoubtonthe charitable company'sabilitytocontinueasagoingconcernforaperiodofatleasttwelvemonthsfromwhen the financial statements are authorised for issue. ``` ``` Ourresponsibilitiesandtheresponsibilitiesofthetrusteeswithrespecttogoingconcernaredescribed in the relevant sections of this report. ``` ## **`Other information`** ``` Thetrusteesareresponsiblefortheotherinformation.Theotherinformationcomprisesthe information includedintheAnnualReport,otherthanthefinancialstatementsandourReportofthe Independent Auditors thereon. ``` ``` Ouropiniononthefinancialstatementsdoesnotcovertheotherinformationand,excepttothe extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. ``` ``` Inconnectionwithourauditofthefinancialstatements,ourresponsibilityistoreadtheother information and,indoingso,considerwhethertheotherinformationismateriallyinconsistentwiththe financial statementsorourknowledgeobtainedintheauditorotherwiseappearstobemateriallymisstated.If we identifysuchmaterialinconsistenciesorapparentmaterialmisstatements,wearerequiredto determine whetherthisgivesrisetoamaterialmisstatementinthefinancialstatementsthemselves.If,basedon the workwehaveperformed,weconcludethatthereisamaterialmisstatementofthisotherinformation, we are required to report that fact. We have nothing to report in this regard. ``` ## **`Opinions on other matters prescribed by the Companies Act 2006`** ``` 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.` ``` Page 7 ``` ``` REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF ``` ## **`SCARBOROUGH THEATRE TRUST LIMITED`** ## **`Matters on which we are required to report by exception`** ``` Inthelightoftheknowledgeandunderstandingofthecharitablecompanyanditsenvironment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. ``` ``` WehavenothingtoreportinrespectofthefollowingmatterswheretheCompaniesAct2006requiresus to report to you if, in our opinion: ``` - `adequate accounting records have not been kept or 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 records and returns; or` - `certain disclosures of trustees' remuneration specified by law are not made; or` - `we have not received all the information and explanations we require for our audit; or` - `the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.` ## **`Responsibilities of trustees`** ``` AsexplainedmorefullyintheStatementofTrustees'Responsibilities,thetrustees(whoarealsothe directors ofthecharitablecompanyforthepurposesofcompanylaw)areresponsibleforthepreparationof the financialstatementsandforbeingsatisfiedthattheygiveatrueandfairview,andforsuchinternal control asthetrusteesdetermineisnecessarytoenablethepreparationoffinancialstatementsthatarefree from material misstatement, whether due to fraud or error. ``` ``` Inpreparingthefinancialstatements,thetrusteesareresponsibleforassessingthecharitable company's abilitytocontinueasagoingconcern,disclosing,asapplicable,mattersrelatedtogoingconcern and usingthegoingconcernbasisofaccountingunlessthetrusteeseitherintendtoliquidatethe charitable company or to cease operations, or have no realistic alternative but to do so. ``` ``` Page 8 ``` ``` REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF ``` ## **`SCARBOROUGH THEATRE TRUST LIMITED`** ## **`Our responsibilities for the audit of the financial statements`** ``` Ourobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawhole are freefrommaterialmisstatement,whetherduetofraudorerror,andtoissueaReportofthe Independent Auditorsthatincludesouropinion.Reasonableassuranceisahighlevelofassurance,butisnot a guaranteethatanauditconductedinaccordancewithISAs(UK)willalwaysdetecta material misstatementwhenitexists.Misstatementscanarisefromfraudorerrorandareconsideredmaterial if, individuallyorintheaggregate,theycouldreasonablybeexpectedtoinfluencetheeconomic decisions of users taken on the basis of these financial statements. ``` ``` Irregularities,includingfraud,areinstancesofnon-compliancewithlawsandregulations.We design proceduresinlinewithourresponsibilities,outlinedabove,todetectmaterialmisstatementsinrespect of irregularities,includingfraud.Theextenttowhichourproceduresarecapableofdetecting irregularities, including fraud is detailed below: ``` ``` Weobtainedanunderstandingofthelegalandregulatoryframeworksthatareapplicableto the companyanddeterminedthatthemostsignificantframeworkswhicharedirectlyrelevantto specific assertionsinthefinancialstatementsarethosethatrelatetothereportingframework(UKGAAPand the Companies Act 2006) and the relevant tax compliance regulations in the UK. ``` ``` Weunderstoodhowthecompanyiscomplyingwiththoseframeworksbymakingenquiries of managementandthoseresponsibleforlegalandcomplianceprocedures.Wecorroboratedour enquiries through review of board minutes and discussions with those charged with governance. Weassessedthesusceptibilityofthecompany’sfinancialstatementstomaterialmisstatement, including howfraudmightoccur,bydiscussionwithmanagementfromvariouspartsofthebusinessto understand wheretheyconsideredtherewasasusceptibilitytofraud.Weconsideredtheproceduresandcontrols that thecompanyhasestablishedtopreventanddetectfraud,andhowthesearemonitored by management, and also any enhanced risk factors such as performance targets. ``` ``` Basedonourunderstanding,wedesignedourauditprocedurestoidentifyanynon-compliancewith laws and regulations identified in the paragraphs above. ``` ``` Wealsoperformedauditworkovertheriskofmanagementoverrideofcontrols,includingtestingof journal entriesandotheradjustmentsforappropriateness,evaluatingthebusinessrationaleof significant transactions outside the normal course of business and reviewing accounting estimates for bias. ``` ``` Afurtherdescriptionofourresponsibilitiesfortheauditofthefinancialstatementsislocatedon the FinancialReportingCouncil'swebsiteatwww.frc.org.uk/auditorsresponsibilities.Thisdescriptionforms part of our Report of the Independent Auditors. ``` ## **`Use of our report`** ``` Thisreportismadesolelytothecharitablecompany'smembers,asabody,inaccordancewithChapter 3 ofPart16oftheCompaniesAct2006.Ourauditworkhasbeenundertakensothatwemightstateto the charitablecompany'smembersthosematterswearerequiredtostatetotheminanauditors'report and fornootherpurpose.Tothefullestextentpermittedbylaw,wedonotacceptorassumeresponsibility to anyoneotherthanthecharitablecompanyandthecharitablecompany'smembersasabody,for our audit work, for this report, or for the opinions we have formed. ``` ``` Richard Buckby FCA (Senior Statutory Auditor) for and on behalf of Fortus Audit LLP Chartered Accountants & Statutory Auditors 5&6 Manor Court Manor Garth Scarborough North Yorkshire YO11 3TU ``` ``` Date: ............................................. ``` ``` Page 9 ``` ``` SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE ``` ## **`STATEMENT OF FINANCIAL ACTIVITIES`** ## **`(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) For The Year Ended 31 March 2022`** |`Notes`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`2`
**`Charitable activities`**
`Operation of theatre`
`Other trading activities`
`3`
`Investment income`
`4`
**`Total`**
**`EXPENDITURE ON`**
`Raising funds`
`6`
**`Charitable activities`**
`7`
`Operation of theatre`
**`Total`**
**`NET INCOME/(EXPENDITURE)`**
**`Transfers between funds`**
`21`
**`Net movement in funds`**
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
**`TOTAL FUNDS CARRIED FORWARD`**|`Unrestricted`
`funds`
`£`
`141,605`
`1,663,536`
`50,240`
`99`
`1,855,480`
`48,841`
`1,832,036`
`1,880,877`
`(25,397)`
`(7)`
`(25,404)`
`692,233`
`666,829`|`Restricted`
`funds`
`£`
`872`
`161,332`
`-`
`-`
`162,204`
`-`
`384,692`
`384,692`
`(222,488)`
`7`
`(222,481)`
`718,905`
`496,424`|`2022`
`Total`
`funds`
`£`
`142,477`
`1,824,868`
`50,240`
`99`
`2,017,684`
`48,841`
`2,216,728`
`2,265,569`
`(247,885)`
`-`
`(247,885)`
`1,411,138`
`1,163,253`|`2021`
`Total`
`funds`
`£`
`199,113`
`1,893,255`
`10,548`
`619`| |---|---|---|---|---| |||||`2,103,535`| |||||`27,231`
`1,605,941`| |||||`1,633,172`| |||||`470,363`
`-`| |||||`470,363`
`940,775`| |||||`1,411,138`| ``` The notes form part of these financial statements ``` ``` Page 10 ``` ## **`SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE`** ## **`BALANCE SHEET 31 March 2022`** |`Notes`
**`FIXED ASSETS`**
`Tangible assets`
`14`
`Investments`
`15`
**`CURRENT ASSETS`**
`Stocks`
`16`
`Debtors`
`17`
`Cash at bank and in hand`
**`CREDITORS`**
`Amounts falling due within one year`
`18`
**`NET CURRENT ASSETS`**
**`TOTAL ASSETS LESS CURRENT LIABILITIES`**
**`NET ASSETS`**
**`FUNDS`**
`21`
`Unrestricted funds`
`Restricted funds`
**`TOTAL FUNDS`**|`2022`
`£`
`226,681`
`100,000`
`326,681`
`2,829`
`381,611`
`721,503`
`1,105,943`
`(269,371)`
`836,572`
`1,163,253`
`1,163,253`
`666,828`
`496,425`
`1,163,253`|`2021`
`£`
`284,099`
`-`
`284,099`
`1,797`
`251,577`
`1,070,749`
`1,324,123`
`(197,084)`
`1,127,039`
`1,411,138`
`1,411,138`
`692,233`
`718,905`
`1,411,138`| |---|---|---| ``` Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicable to charitable companies subject to the small companies regime. ``` ``` ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on ............................................. and were signed on its behalf by: ``` ``` ............................................. Ms H Boaden - Trustee ``` ``` The notes form part of these financial statements ``` ``` Page 11 ``` ## **`SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE`** ## **`CASH FLOW STATEMENT For The Year Ended 31 March 2022`** |`Notes`
**`Cash flows from operating activities`**
`Cash generated from operations`
`1`
`Net cash (used in)/provided by operating activities`
**`Cash flows from investing activities`**
`Purchase of tangible fixed assets`
`Purchase of fixed asset investments`
`Interest received`
`Net cash used in investing activities`
**`Change in cash and cash equivalents in`**
**`the reporting period`**
**`Cash and cash equivalents at the`**
**`beginning of the reporting period`**
**`Cash and cash equivalents at the end of`**
**`the reporting period`**|`2022`
`£`
`(234,872)`
`(234,872)`
`(14,473)`
`(100,000)`
`99`
`(114,374)`
`(349,246)`
`1,070,749`
`721,503`|`2021`
`£`
`685,123`
`685,123`
`(117,880)`
`-`
`619`
`(117,261)`
`567,862`
`502,887`
`1,070,749`| |---|---|---| ``` The notes form part of these financial statements ``` ``` Page 12 ``` ``` SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE ``` ## **`NOTES TO THE CASH FLOW STATEMENT For The Year Ended 31 March 2022`** ## **`1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES`** |**`Net (expenditure)/income for the reporting period (as per the`**
**`Statement of Financial Activities)`**
**`Adjustments for:`**
`Depreciation charges`
`Interest received`
`(Increase)/decrease in stocks`
`(Increase)/decrease in debtors`
`Increase in creditors`
**`Net cash (used in)/provided by operations`**|`2022`
`£`
`(247,885)`
`71,892`
`(99)`
`(1,032)`
`(130,034)`
`72,286`
`(234,872)`|`2021`
`£`
`470,363`
`67,124`
`(619)`
`3,362`
`133,316`
`11,577`
`685,123`| |---|---|---| ## `2.` **`ANALYSIS OF CHANGES IN NET FUNDS`** |**`Net cash`**
`Cash at bank and in hand`
**`Total`**|`At 1.4.21`
`£`
`1,070,749`
`1,070,749`
`1,070,749`|`Cash flow`
`£`
`(349,246)`
`(349,246)`
`(349,246)`|`At 31.3.22`
`£`
`721,503`| |---|---|---|---| ||||`721,503`| ||||`721,503`| ``` The notes form part of these financial statements ``` ``` Page 13 ``` ``` SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE ``` ## **`NOTES TO THE FINANCIAL STATEMENTS For The Year Ended 31 March 2022`** ## **`1. ACCOUNTING POLICIES`** ## **`Basis of preparing the financial statements`** ``` Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS 102, havebeenpreparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReporting by Charities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccounts in accordancewiththeFinancialReportingStandard102'TheFinancialReporting Standard applicableintheUKandRepublicofIreland'andtheCompaniesAct2006.Thefinancial statements havebeenpreparedunderthehistoricalcostconventionwiththeexceptionofinvestments which are included at market value. ``` ``` ScarboroughTheatreTrustLimitedisacharitableprivatecompanylimitedbyguaranteein England. Theaddressandplaceofbusinessisgiveninthecharityinformationwithinthetrusteesreport of thesefinancialstatements.Thenatureofthecharity'soperationsandprincipalactivitiesare to advancethearts,cultureandheritageoftheboroughofScarboroughbyproviding an internationally recognised theatre. ``` ``` The accounts are presented in £ Sterling which is functional currency of the charity. ``` ## **`Income`** ``` AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlement to thefunds,itisprobablethattheincomewillbereceivedandtheamountcanbe measured reliably. ``` ``` Fordonationsandgrantstoberecognisedthecharitywillhavebeennotifiedoftheamounts and thesettlementdateinwriting.Ifthereareconditionsattachedtothedonationorgrantand this requiresalevelofperformancebeforeentitlementcanbeobtainedthenincomeisdeferred until thoseconditionsarefullymetorthefulfilmentofthoseconditionsiswithinthecontrolofthe charity and it is probable that they will be fulfilled. ``` ``` Incomefromtradingactivitiesincludesincomeearnedfromfundraisingeventsand trading activitiestoraisefundsforthecharity.Incomeisreceivedinexchangeforsupplyinggoods and services in order to raise funds and is recognised when entitlement has occurred. ``` ``` Incomereceivedinadvanceofatheatricalperformanceortourisdeferreduntilthe performance has been delivered and then at that point will be recognised as income in the accounts. ``` ``` Thetrust'swhollyownedsubsidiary,StephenJosephTheatreEnterprisesLimited,benefitsfrom the receiptoftheatretaxcreditswhichitreceivesinrelationtoproductionsthatarecloselylinked to thetheatre'sobjectsandactivities.Asaresult,thecompanydonatesthetaxcredittothetrust and thisisrecognisedintheaccountsintheperiodtowhichtheclaimrelatestomatchthetreatment in the subsidiary accounts. ``` ## **`Expenditure`** ``` Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation committingthecharitytothatexpenditure,itisprobablethatatransferofeconomicbenefits will berequiredinsettlementandtheamountoftheobligationcanbemeasuredreliably. Expenditure isaccountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregate all costrelatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadings they have been allocated to activities on a basis consistent with the use of resources. ``` ``` Irrecoverable VAT is charged as an expense against the activity for which expenditure arose. ``` ## **`Raising funds`** ``` Costsofgeneratingfundsarethosecostsincurredinattractingvoluntaryincomeandgrants, and those incurred in trading activities that raise funds. ``` ``` continued... ``` ``` Page 14 ``` ``` SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued`** ``` For The Year Ended 31 March 2022 ``` ## **`1. ACCOUNTING POLICIES - continued`** ## **`Charitable activities`** ``` Charitableactivitiesincludeexpenditureassociatedwiththestagingofstageproductions, tours, exhibitionsandeducationalprogrammesandincludeboththedirectcostsandsupport costs relating to these activities. ``` ## **`Support costs`** ``` Supportcostsincludethoseincurredinthegovernanceofthecharityanditsassetsandare primarily associated with constitutional and statutory requirements. ``` ## **`Tangible fixed assets`** ``` Depreciationisprovidedatthefollowingannualratesinordertowriteoffeachassetover its estimated useful life. ``` ``` Improvements to property- Over remaining period of the lease Furniture, fixtures, fittings and equipment- Straight line over 6 years Motor vehicles- 20% on cost ``` ``` Tangiblefixedassetsarestatedatcostorvaluationlessaccumulateddepreciation and accumulatedimpairmentlosses.Costincludescostsdirectlyattributabletomakingthe asset capable of operating as intended. ``` ## **`Stocks`** ``` Stocksarevaluedatthelowerofcostandnetrealisablevalue,aftermakingdueallowance for obsolete and slow moving items. ``` ``` Costincludesallcostsofpurchaseandiscalculatedusingthefirst-in,first-outbasis.Provision is made for damaged, obsolete and slow-moving stock where appropriate. ``` ## **`Taxation`** ``` Thecharityisexemptfromcorporationtaxonitscharitableactivities.Thecompanyisregistered for VAT on a partial exemption basis. ``` ## **`Fund accounting`** ``` Unrestrictedfundsareavailabletospendonactivitiesthatfurtheranyofthepurposesofthe charity. Designatedfundsareunrestrictedfundsofthecharitywhichthetrusteeshavedecidedat their discretiontosetasidetouseforaspecificpurpose.Restrictedfundsaregrantsanddonations which thedonorhasspecifiedaretobesolelyusedforparticularareasoftheTrust'sworkorfor specific projects being undertaken by the Trust. ``` ## **`Foreign currencies`** ``` Assetsandliabilitiesinforeigncurrenciesaretranslatedintosterlingattheratesofexchange ruling atthebalancesheetdate.Transactionsinforeigncurrenciesaretranslatedintosterlingatthe rate ofexchangerulingatthedateoftransaction.Exchangedifferencesaretakenintoaccount in arriving at the operating result. ``` ## **`Pension costs and other post-retirement benefits`** ``` Thecharitablecompanyoperatesadefinedcontributionpensionscheme.Contributions payable tothecharitablecompany'spensionschemearechargedtotheStatementofFinancialActivities in the period to which they relate. ``` ``` continued... ``` ``` Page 15 ``` ``` SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2022`** ## **`1. ACCOUNTING POLICIES - continued`** ## **`Going concern`** ``` BecauseofthenatureofitsactivitiestheTrust,incommonwithsimilarorganisations,is dependent ongrantsforitscontinuingexistenceandthereisnoguaranteethatsuchaidwill continue indefinitely.Thecompanyisalsodependentonitsbankersforworkingcapitalatcertain times. Theseaccountshavebeendrawnuponagoingconcernbasisontheassumptionthat grant funding and support from the Trust's bankers will continue. ``` ``` ThetrusteeshaveconsideredtheimpactofCOVID-19inrelationtotheirassessmentof going concernandintheiropinionhavetakenallreasonablestepstomitigatethesefactors.Asat the pointofauthorisingtheaccounts,andfortheforeseeablefuture,thedirectorsconsiderthe going concernassumptiontostillbeappropriate.Thetrusteesacknowledgethatgiventhe currently rapidlychangingbusinessandsocialenvironment,therearelikelytobesignificantunknown factors whichmaypresentthemselves.Suchfactorsareconsideredbythetrusteestorepresenta general inherent level of risk in relation to the going concern assumption albeit not quantifiable at this time. ``` ## **`Loans and borrowings`** ``` Loans and borrowings are initially recognised at the transaction price including transaction costs. ``` ## **`Debtors and creditors receivable / payable within one year`** ``` Debtorsandcreditorswithnostatedinterestrateandreceivableorpayablewithinoneyear are recorded at transaction price. Any losses arising are recognised in the profit and loss account. ``` ## **`2. DONATIONS AND LEGACIES`** |`Gifts`
`Donations`|`2022`
`£`
`1`
`142,476`
`142,477`|`2021`
`£`
`-`
`199,113`| |---|---|---| |||`199,113`| ``` Of the donations received in the year £872 relates to restricted funds (2021 - £1,710). ``` ## **`3. OTHER TRADING ACTIVITIES`** |**`OTHER TRADING ACTIVITIES`**||| |---|---|---| |`Sweets and ice creams`
`Bar sales`|`2022`
`£`
`16,401`
`33,839`
`50,240`|`2021`
`£`
`2,120`
`8,428`| |||`10,548`| ``` continued... ``` ``` Page 16 ``` ``` SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2022`** ## **`4. INVESTMENT INCOME`** |**`INVESTMENT INCOME`**||| |---|---|---| |`Deposit account interest`
**`INCOME FROM CHARITABLE ACTIVITIES`**
`Activity`
`Box office income`
`Operation of theatre`
`Touring income`
`Operation of theatre`
`University income`
`Operation of theatre`
`Grants`
`Operation of theatre`
`Theatre lettings`
`Operation of theatre`
`Miscellaneous income`
`Operation of theatre`
`Outreach department`
`income`
`Operation of theatre`
`Government grants`
`Operation of theatre`
`Grants received, included in the above, are as follows:`
`Arts Council`
`Scarborough Borough Council`
`North Yorkshire County Council`
`Other grants`
`Esme Fairburn Foundation`
`Phillip Carne Trust`
`McCain's`
`Oak Foundation`
`Culture relief`
`Garfield Weston`|`2022`
`£`
`99`
`2022`
`£`
`614,234`
`42,369`
`25,000`
`927,385`
`7,610`
`67,792`
`24,132`
`116,346`
`1,824,868`
`2022`
`£`
`759,112`
`116,604`
`20,519`
`1,150`
`-`
`15,000`
`15,000`
`-`
`-`
`-`
`927,385`|`2021`
`£`
`619`
`2021`
`£`
`71,506`
`-`
`-`
`1,302,740`
`1,200`
`52,779`
`15,262`
`449,768`| |||`1,893,255`| |||`2021`
`£`
`649,449`
`116,604`
`-`
`6,000`
`40,000`
`10,000`
`15,000`
`5,000`
`222,935`
`237,752`| |||`1,302,740`| ## **`5. INCOME FROM CHARITABLE ACTIVITIES`** ``` Of the grant received in 2022, £161,332 related to restricted funds (2021 - £521,687). ``` ``` continued... ``` ``` Page 17 ``` ``` SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued`** ## **`For The Year Ended 31 March 2022`** ## **`6. RAISING FUNDS`** ## **`Other trading activities`** |`Bar, shop, sweets and ice cream purchases`
`Programmes`
`Development costs`
**`7.`**
**`CHARITABLE ACTIVITIES COSTS`**
`Operation of theatre`
**`8.`**
**`DIRECT COSTS OF CHARITABLE ACTIVITIES`**
`Staff costs`
`Rent`
`Water rates`
`Insurance`
`Light and heat`
`Telephone`
`Postage and stationery`
`Publicity and marketing`
`Guest directors, designers and visiting companies fees`
`Commissions and royalties`
`Production expenses`
`Outreach department expenses`
`Touring expenses`
`Motor expenses`
`Ticket printing`
`Theatre licences and subscriptions`
`Repairs and renewals`
`Cleaning`
`Miscellaneous administration`
`Legal and professional fees`
`Bank charges and interest`
`Merchant and spektrix charges`
`Irrecoverable VAT`
`Bad debts`
`Fundraising costs`
`Grant expenditure and transition costs`
`Depreciation`|`Direct`
`Costs (see`
`note 8)`
`£`
`2,209,328`|`2022`
`£`
`10,047`
`13,228`
`25,566`
`48,841`
`Support`
`costs (see`
`note 9)`
`£`
`7,400`
`2022`
`£`
`819,326`
`27,500`
`5,171`
`19,725`
`73,553`
`5,970`
`7,893`
`43,444`
`65,904`
`62,699`
`421,863`
`12,671`
`20,549`
`3,188`
`100`
`9,120`
`60,993`
`13,630`
`9,770`
`13,267`
`2,006`
`22,793`
`65,738`
`(760)`
`2,991`
`348,332`
`71,892`
`2,209,328`|`2021`
`£`
`7,897`
`315`
`19,019`
`27,231`
`Totals`
`£`
`2,216,728`
`2021`
`£`
`884,464`
`27,500`
`2,827`
`29,172`
`32,104`
`4,910`
`7,942`
`29,282`
`85,603`
`17,664`
`31,604`
`29,508`
`(266)`
`2,618`
`550`
`7,030`
`50,046`
`3,381`
`5,752`
`-`
`2,313`
`13,501`
`42,283`
`5,336`
`729`
`213,539`
`67,124`
`1,596,516`| |---|---|---|---| ``` continued... ``` ``` Page 18 ``` ``` SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2022`** ## **`9. SUPPORT COSTS`** |**`SUPPORT COSTS`**||| |---|---|---| |||`Governance`| |||`costs`| |||`£`| |`Operation of theatre`||`7,400`| |`Support costs, included in the above, are as follows:`||| ||`2022`|`2021`| ||`Operation`|| ||`of`|`Total`| ||`theatre`|`activities`| ||`£`|`£`| |`Auditors' remuneration`|`6,500`|`5,750`| |`Auditors' remuneration for non audit`||| |`work`|`900`|`3,675`| ||`7,400`|`9,425`| |**`NET INCOME/(EXPENDITURE)`**||| |`Net income/(expenditure) is stated after charging/(crediting):`||| ||`2022`|`2021`| ||`£`|`£`| |`Auditors' remuneration`|`6,500`|`5,750`| |`Auditors' remuneration for non audit work`|`900`|`3,675`| |`Depreciation - owned assets`|`71,891`|`67,126`| ## **`10. NET INCOME/(EXPENDITURE)`** ## **`11. TRUSTEES' REMUNERATION AND BENEFITS`** ``` Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2022norfor the year ended 31 March 2021. ``` ## **`Trustees' expenses`** ``` Therewerenotrustees'expensespaidfortheyearended31March2022norfortheyear ended 31 March 2021. ``` ## **`12. STAFF COSTS`** |**`STAFF COSTS`**||| |---|---|---| |`Wages and salaries`
`Social security costs`
`Other pension costs`|`2022`
`£`
`745,395`
`60,915`
`13,016`
`819,326`|`2021`
`£`
`816,039`
`54,748`
`13,677`| |||`884,464`| ``` continued... ``` ``` Page 19 ``` ``` SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2022`** ## **`12. STAFF COSTS - continued`** ``` The average monthly number of employees during the year was as follows: ``` |`Fundraising of voluntary income`
`Operation of theatre`|`2022`
`-`
`-`
`-`|`2021`
`1`
`67`| |---|---|---| |||`68`| ``` No employees received emoluments in excess of £60,000. ``` ``` The cost of key management personnel for the year was £302,098. ``` ## **`13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`** |**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
**`Charitable activities`**
`Operation of theatre`
`Other trading activities`
`Investment income`
**`Total`**
**`EXPENDITURE ON`**
`Raising funds`
**`Charitable activities`**
`Operation of theatre`
**`Total`**
**`NET INCOME`**
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
**`TOTAL FUNDS CARRIED FORWARD`**|`Unrestricted`
`funds`
`£`
`197,404`
`1,371,568`
`10,548`
`619`
`1,580,139`
`27,231`
`1,356,042`
`1,383,273`
`196,866`
`495,367`
`692,233`|`Restricted`
`funds`
`£`
`1,709`
`521,687`
`-`
`-`
`523,396`
`-`
`249,899`
`249,899`
`273,497`
`445,408`
`718,905`|`Total`
`funds`
`£`
`199,113`
`1,893,255`
`10,548`
`619`| |---|---|---|---| ||||`2,103,535`| ||||`27,231`
`1,605,941`| ||||`1,633,172`| ||||`470,363`
`940,775`| ||||`1,411,138`| ``` continued... ``` ``` Page 20 ``` ``` SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2022`** ## **`14. TANGIBLE FIXED ASSETS`** |`Furniture,`
`fixtures,`
`Improvements`
`fittings`
`to`
`and`
`property`
`equipment`
`£`
`£`
**`COST`**
`At 1 April 2021`
`155,167`
`725,046`
`Additions`
`-`
`14,473`
`At 31 March 2022`
`155,167`
`739,519`
**`DEPRECIATION`**
`At 1 April 2021`
`12,414`
`589,100`
`Charge for year`
`3,104`
`66,087`
`At 31 March 2022`
`15,518`
`655,187`
**`NET BOOK VALUE`**
`At 31 March 2022`
`139,649`
`84,332`
`At 31 March 2021`
`142,753`
`135,946`
**`FIXED ASSET INVESTMENTS`**
**`MARKET VALUE`**
`Additions`
**`NET BOOK VALUE`**
`At 31 March 2022`
`At 31 March 2021`|`Motor`
`vehicles`
`Totals`
`£`
`£`
`13,500`
`893,713`
`-`
`14,473`
`13,500`
`908,186`
`8,100`
`609,614`
`2,700`
`71,891`
`10,800`
`681,505`
`2,700`
`226,681`
`5,400`
`284,099`
`Unlisted`
`investments`
`£`
`100,000`
`100,000`
`-`| |---|---| ## **`15. FIXED ASSET INVESTMENTS`** ``` There were no investment assets outside the UK. ``` ``` The company's investments at the balance sheet date in the share capital of companies include the following: ``` ## **`Stephen Joseph Theatre Enterprises Limited`** ``` Registered office: ``` ``` Nature of business: Theatre Productions ``` ``` % Class of share:holding Ordinary100 ``` ``` continued... ``` ``` Page 21 ``` ``` SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2022`** ## **`16. STOCKS`** |`Stocks`
**`17.`**
**`DEBTORS`**
`Amounts falling due within one year:`
`Trade debtors`
`Other debtors`
`Prepayments and accrued income`
`Amounts falling due after more than one year:`
`Other debtors`
`Aggregate amounts`|`2022`
`£`
`2,829`
`2022`
`£`
`11,331`
`21,420`
`177,600`
`210,351`
`171,260`
`381,611`|`2021`
`£`
`1,797`
`2021`
`£`
`14,696`
`10,000`
`45,621`|`2021`
`£`
`1,797`| |---|---|---|---| |||`70,317`|| |||`181,260`|| |||`251,577`|| ``` OtherdebtorsfallingdueaftermorethanoneyearrelatestoaloanmadetoScarborough Theatre DevelopmentTrustunderaloanagreementdated9January2015.Undertheagreement,the loan wasrepayableinfullby31January2020andnointerestisdueifrepaidinfullbythatdate.The loan was renegotiated in June 2017 to be repaid after 25 years with an interest rate of 0.25% . ``` ## **`18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`** |**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**||| |---|---|---| |`Receipts in advance`
`Trade creditors`
`Amounts owed to group undertakings`
`Social security and other taxes`
`Accrued expenses`|`2022`
`£`
`81,363`
`32,100`
`12,001`
`12,806`
`131,101`
`269,371`|`2021`
`£`
`11,312`
`38,059`
`12,040`
`13,003`
`122,670`| |||`197,084`| ## **`19. LEASING AGREEMENTS`** ``` Minimum lease payments under non-cancellable operating leases fall due as follows: ``` |`Within one year`
`Between one and five years`
`In more than five years`|`2022`
`£`
`27,500`
`110,000`
`1,086,250`
`1,223,750`|`2021`
`£`
`27,500`
`110,000`
`1,113,750`| |---|---|---| |||`1,251,250`| ``` The above reflect the total amounts payable over the term of the lease for the theatre premises. ``` ``` continued... ``` ``` Page 22 ``` ``` SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2022`** ## **`20. ANALYSIS OF NET ASSETS BETWEEN FUNDS`** |`Fixed assets`
`Investments`
`Current assets`
`Current liabilities`
**`21.`**
**`MOVEMENT IN FUNDS`**
**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Benefactors account`
`Arts Council - Small Capital Grants`
`New Work & Talent Fund`
`Esme Fairburn Foundation`
`Theatres Trust`
`Phillip Carne Trust`
`Oak Foundation`
`Culture Relief Fund`
`Garfield Weston Foundation`
`COAST`
`Mein Trust`
`Early Years Project`
`Feast (NYCC)`
`Yorkshire in Business`
**`TOTAL FUNDS`**|`Unrestricted`
`funds`
`£`
`55,667`
`100,000`
`780,532`
`(269,371)`
`666,828`
`At 1.4.21`
`£`
`692,233`
`26,663`
`361,512`
`9,181`
`29,149`
`4,307`
`2,240`
`9,880`
`32,221`
`237,752`
`5,000`
`1,000`
`-`
`-`
`-`
`718,905`
`1,411,138`|`Restricted`
`funds`
`£`
`171,014`
`-`
`325,411`
`-`
`496,425`
`Net`
`movement`
`in funds`
`£`
`(25,398)`
`(1,681)`
`(3,104)`
`-`
`(29,156)`
`(2,632)`
`10,000`
`(9,880)`
`(3,266)`
`(186,378)`
`(4,855)`
`(330)`
`5,560`
`2,760`
`475`
`(222,487)`
`(247,885)`|`2022`
`Total`
`funds`
`£`
`226,681`
`100,000`
`1,105,943`
`(269,371)`
`1,163,253`
`Transfers`
`between`
`funds`
`£`
`(7)`
`-`
`-`
`-`
`7`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`7`
`-`|`2021`
`Total`
`funds`
`£`
`284,099`
`-`
`1,324,123`
`(197,084)`
`1,411,138`
`At`
`31.3.22`
`£`
`666,828`
`24,982`
`358,408`
`9,181`
`-`
`1,675`
`12,240`
`-`
`28,955`
`51,374`
`145`
`670`
`5,560`
`2,760`
`475`
`496,425`
`1,163,253`| |---|---|---|---|---| ``` continued... ``` ``` Page 23 ``` ``` SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2022`** ## **`21. MOVEMENT IN FUNDS - continued`** ``` Net movement in funds, included in the above are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Benefactors account`
`Arts Council - Small Capital Grants`
`Esme Fairburn Foundation`
`Theatres Trust`
`Phillip Carne Trust`
`McCain's Project`
`Oak Foundation`
`Culture Relief Fund`
`Garfield Weston Foundation`
`COAST`
`Mein Trust`
`Early Years Project`
`Feast (NYCC)`
`Yorkshire in Business`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`1,855,480`
`872`
`-`
`-`
`-`
`15,000`
`15,000`
`-`
`109,663`
`-`
`-`
`-`
`12,445`
`8,074`
`1,150`
`162,204`
`2,017,684`|`Resources`
`expended`
`£`
`(1,880,878)`
`(2,553)`
`(3,104)`
`(29,156)`
`(2,632)`
`(5,000)`
`(15,000)`
`(9,880)`
`(112,929)`
`(186,378)`
`(4,855)`
`(330)`
`(6,885)`
`(5,314)`
`(675)`
`(384,691)`
`(2,265,569)`|`Movement`
`in funds`
`£`
`(25,398)`
`(1,681)`
`(3,104)`
`(29,156)`
`(2,632)`
`10,000`
`-`
`(9,880)`
`(3,266)`
`(186,378)`
`(4,855)`
`(330)`
`5,560`
`2,760`
`475`
`(222,487)`
`(247,885)`| |---|---|---|---| ## **`Comparatives for movement in funds`** |**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Benefactors account`
`Arts Council - Small Capital Grants`
`New Work & Talent Fund`
`Esme Fairburn Foundation`
`Theatres Trust`
`Phillip Carne Trust`
`Oak Foundation`
`Culture Relief Fund`
`Garfield Weston Foundation`
`COAST`
`Mein Trust`
**`TOTAL FUNDS`**|`Net`
`movement`
`At`
`At 1.4.20`
`in funds`
`31.3.21`
`£`
`£`
`£`
`495,367`
`196,866`
`692,233`
`27,428`
`(765)`
`26,663`
`364,616`
`(3,104)`
`361,512`
`9,181`
`-`
`9,181`
`26,884`
`2,265`
`29,149`
`7,019`
`(2,712)`
`4,307`
`5,280`
`(3,040)`
`2,240`
`5,000`
`4,880`
`9,880`
`-`
`32,221`
`32,221`
`-`
`237,752`
`237,752`
`-`
`5,000`
`5,000`
`-`
`1,000`
`1,000`
`445,408`
`273,497`
`718,905`
`940,775`
`470,363`
`1,411,138`|`At`
`31.3.21`
`£`
`692,233`
`26,663`
`361,512`
`9,181`
`29,149`
`4,307`
`2,240`
`9,880`
`32,221`
`237,752`
`5,000`
`1,000`| |---|---|---| |||`718,905`| ``` continued... ``` ``` Page 24 ``` ``` SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2022`** ## **`21. MOVEMENT IN FUNDS - continued`** ``` Comparative net movement in funds, included in the above are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Benefactors account`
`Arts Council - Small Capital Grants`
`Esme Fairburn Foundation`
`Theatres Trust`
`Phillip Carne Trust`
`Oak Foundation`
`Culture Relief Fund`
`Garfield Weston Foundation`
`COAST`
`Mein Trust`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`1,580,139`
`1,710`
`-`
`40,000`
`(1)`
`10,000`
`5,000`
`222,935`
`237,752`
`5,000`
`1,000`
`523,396`
`2,103,535`|`Resources`
`expended`
`£`
`(1,383,273)`
`(2,475)`
`(3,104)`
`(37,735)`
`(2,711)`
`(13,040)`
`(120)`
`(190,714)`
`-`
`-`
`-`
`(249,899)`
`(1,633,172)`|`Movement`
`in funds`
`£`
`196,866`
`(765)`
`(3,104)`
`2,265`
`(2,712)`
`(3,040)`
`4,880`
`32,221`
`237,752`
`5,000`
`1,000`
`273,497`
`470,363`| |---|---|---|---| ``` A current year 12 months and prior year 12 months combined position is as follows: ``` |**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Benefactors account`
`Arts Council - Small Capital Grants`
`New Work & Talent Fund`
`Esme Fairburn Foundation`
`Theatres Trust`
`Phillip Carne Trust`
`Oak Foundation`
`Culture Relief Fund`
`Garfield Weston Foundation`
`COAST`
`Mein Trust`
`Early Years Project`
`Feast (NYCC)`
`Yorkshire in Business`
**`TOTAL FUNDS`**|`At 1.4.20`
`£`
`495,367`
`27,428`
`364,616`
`9,181`
`26,884`
`7,019`
`5,280`
`5,000`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`445,408`
`940,775`|`Net`
`movement`
`in funds`
`£`
`171,468`
`(2,446)`
`(6,208)`
`-`
`(26,891)`
`(5,344)`
`6,960`
`(5,000)`
`28,955`
`51,374`
`145`
`670`
`5,560`
`2,760`
`475`
`51,010`
`222,478`|`Transfers`
`between`
`funds`
`£`
`(7)`
`-`
`-`
`-`
`7`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`7`
`-`|`At`
`31.3.22`
`£`
`666,828`
`24,982`
`358,408`
`9,181`
`-`
`1,675`
`12,240`
`-`
`28,955`
`51,374`
`145`
`670`
`5,560`
`2,760`
`475`| |---|---|---|---|---| |||||`496,425`| |||||`1,163,253`| ``` continued... ``` ``` Page 25 ``` ``` SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2022`** ## **`21. MOVEMENT IN FUNDS - continued`** ``` Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,included in the above are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Benefactors account`
`Arts Council - Small Capital Grants`
`Esme Fairburn Foundation`
`Theatres Trust`
`Phillip Carne Trust`
`McCain's Project`
`Oak Foundation`
`Culture Relief Fund`
`Garfield Weston Foundation`
`COAST`
`Mein Trust`
`Early Years Project`
`Feast (NYCC)`
`Yorkshire in Business`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`3,435,619`
`2,582`
`-`
`40,000`
`(1)`
`25,000`
`15,000`
`5,000`
`332,598`
`237,752`
`5,000`
`1,000`
`12,445`
`8,074`
`1,150`
`685,600`
`4,121,219`|`Resources`
`expended`
`£`
`(3,264,151)`
`(5,028)`
`(6,208)`
`(66,891)`
`(5,343)`
`(18,040)`
`(15,000)`
`(10,000)`
`(303,643)`
`(186,378)`
`(4,855)`
`(330)`
`(6,885)`
`(5,314)`
`(675)`
`(634,590)`
`(3,898,741)`|`Movement`
`in funds`
`£`
`171,468`
`(2,446)`
`(6,208)`
`(26,891)`
`(5,344)`
`6,960`
`-`
`(5,000)`
`28,955`
`51,374`
`145`
`670`
`5,560`
`2,760`
`475`
`51,010`
`222,478`| |---|---|---|---| ## **`22. RELATED PARTY DISCLOSURES`** ``` TwodirectorsalsositontheboardofScarboroughTheatreDevelopmentTrust,whoown the freehold property from which the company operates. ``` ``` Duringtheyear,rentof£27,500waspaidtoScarboroughTheatreDevelopmentTrustunderthe terms of the lease. A loan exists between the two companies as shown in note 17 to the accounts. ``` ## **`23. ULTIMATE CONTROLLING PARTY`** ``` The charity is under the control of the board of trustees. ``` ``` Page 26 ```