**REGISTERED COMPANY NUMBER: 00815227 (England and Wales) REGISTERED CHARITY NUMBER: 253606**
## **ANNUAL REPORT AND CONSOLIDATED**
**FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2023**
**FOR**
**SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE**
**SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE**
## **CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS For the Year Ended 31 March 2023**
||**Page**|
|---|---|
|**Report of the Trustees**|1 to 5|
|**Report of the Independent Auditors**|6 to 8|
|**Consolidated Statement of Financial Activities**|9|
|**Consolidated Balance Sheet**|10|
|**Consolidated Cash Flow Statement**|11|
|**Notes to the Consolidated Cash Flow Statement**|12|
|**Notes to the Consolidated Financial Statements**|13 to 25|
## **SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE**
## **REPORT OF THE TRUSTEES For the Year Ended 31 March 2023**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Vision**
This is yours.
## **Mission**
We at the SJT believe that culture provokes interest and fires our imaginations; that sharing our experiences and our stories helps build communities and that collaboration builds a compassionate and engaged society.
Our role is to give everyone the opportunity to discover and celebrate their creativity.
## **Objectives**
- We will inspire and entertain through a high-quality programme of work and tell stories which reflect the diverse lives of our communities.
- We will play an integral civic role in our town and our county
- We will invest in our staff, artists and communities, supporting them on their journeys and developing local skills, knowledge and aspiration.
- We will cultivate an organisation-wide audience engagement focus, developing relationships, loyalty, support and a sense of belonging.
- We will adopt a socially and ethically responsible approach across all aspects of our operation and minimise the impact we have on the environment.
- We will think commercially and work in partnership, harnessing our expertise to collaborate and innovate.
## **Public benefit**
As a charity, and with regard to Charity Commission guidance, the trustees recognise the Trust's duty to carry out its operations for the benefit of the public. In particular the trustees consider that the work of the Trust in the last year has advanced the arts, culture and heritage of the Borough of Scarborough and its region for the benefit of a broad audience.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
2022/23 saw our operation almost back to normal after a difficult couple of years impacted by the pandemic. We produced six shows across the year – rather than our usual seven - and started to see audiences returning in larger numbers than previously. Brief Encounter, our first Popular Excellence show for three years, achieved 89% of targeted audience numbers and 96% of its financial target; whilst our Christmas show Cinderella achieved 109% of targeted audiences, 102% of its financial target and was in fact our best-selling Christmas show to date. In addition, we staged the regional premiere of Olivier award nominated Constellations, and two world-premieres: an adaptation of Jane Eyre and Alan Ayckbourn’s latest play Family Album.
Whilst audiences and ticket income increased significantly from the previous year (up 172% and 162% respectively) we set ourselves a target to generate more income from ticket sales, informed in the main by the fact that our prices were consistently lower than other producing houses in Yorkshire. We simplified our pricing structure across the board and increased the number of higher priced tickets on our productions (whilst also retaining a number of £10 tickets for each performance). In this way we were able to maintain affordability and accessibility whilst generating increased levels of income from the best seats in the house. The new structure came into play for the launch of our 2023 season which saw one of our highest on sales days ever.
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## **SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE**
## **REPORT OF THE TRUSTEES For the Year Ended 31 March 2023**
This year also saw the completion of the restructure of the Creative Engagement department; work that had been halted by the pandemic. One role was made redundant and two new roles created, including a head of department for the first time in nearly ten years. The new Head of Creative Engagement started with the organisation in February of this year. Whilst this was an unsettling time for the department, they continued to deliver an ongoing programme of participatory work, including an extension of our project with Early Years pupils, building communication skills and self-confidence after the impact of the pandemic, and a continuation of our work within the Eastfield community, supported by McCains. We were also able to grow our programme of dementia friendly films, thanks to support from a local councillor, and broaden the reach of our £1 ticket scheme, delivered in partnership with organisations including Beyond Housing and Carers Plus.
Our civic role within our town and our county continued. We played a key role in the recruitment and appointment of a Festival Director for Scarborough Fair – a year-round cultural festival designed to deliver cultural regeneration for the town – and will now lead its Advisory Board as the festival becomes established. In our role chairing the Local Cultural and Education Partnership we secured funding to engage with children and young people within coastal communities, working with them to develop programmes of creative activity that they would otherwise be unable to access. We also ensure that a cultural voice makes up part of wider local business discussions through our participation in bodies such as Scarborough Business Ambassadors and the Town Centre Team.
Our donors and members continued to be incredibly generous to us throughout the year and with their help we were able to reach our unrestricted fundraising target. This gave us the flexibility to invest funds where most needed, including supporting new commissions and a number of engagement activities in specific communities.
We remain grateful to our two statutory funders for their ongoing support of the company. Arts Council England – our primary funder – confirmed a further three-year funding agreement up to 2026 as part of its National Portfolio programme. Scarborough Borough Council had previously put a four-year funding agreement in place, to bring it in line with the Arts Council England timeframe; as a result of Local Government Reorganisation the council became part of the much larger North Yorkshire Council at the end of the year but NYC confirmed this year that it would honour the agreement. We feel that this demonstrates the council’s recognition of the cultural and economic significance of the theatre within the region and look forward to working with its new councillors and officers to forge strong relationships.
## **FINANCIAL REVIEW**
## **Financial review**
During the year, the board authorised the creation of four designated funds (headed Innovation, Audience Development, Legal/Governance and Captain Jack) totalling £210,000 from the opening unrestricted reserves. The Trust made a deficit for the year on unrestricted funds of £64,361, of which £53,484 was allocated against the various designated funds and £10,877 to general funds. The closing unrestricted reserves were £602,467 and total reserves £1,051,320
## **Principal funding sources**
The Trusts funding for its charitable operations continued to be primarily through ACE and Scarborough Borough Council. However, funding to enable specific artistic projects has been received from a number of individual donors and local businesses; this, together with a number of one-off legacies and the continued support of our regular donors all contributed to the Trust's financial viability.
## **Investment policy and objectives**
Under the Memorandum and Articles of Association, the charity has the power to invest in any way the trustees wish.
The Trustees look to maintain an appropriate level of liquidity in cash balances for the operating requirements of the Charity. Funds in excess of those required for the Charity's short-term operating requirement are invested, on our behalf, by CCLA. The funds managed by CCLA are held in two separate portfolios with different investment criteria. Both portfolios are regarded as cautious and aim at providing growth for the Charity's investment. Investment account decisions will be made by the Board based on a recommendation from the Chair and the Chair of the Finance Task Group.
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## **SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE**
## **REPORT OF THE TRUSTEES For the Year Ended 31 March 2023**
## **Reserves policy**
The trustees have examined the requirements for reserves in light of the main risks to the charity. Sufficient secured funding is in place to ensure that the theatre is able to continue to operate and be enjoyed by its stakeholders. It is the policy of Scarborough Theatre Trust to hold reserves equivalent to 3-6 months operating costs.
## **FUTURE PLANS**
In 2022/23, the company began to consider how it might be able to clarify and improve the offer in the McCarthy cinema/studio theatre, with particular reference to the impact likely to be cause by the arrival of a new cinema in Scarborough. It commissioned a number of reports during the year: a feasibility study that identified certain improvements to be made, including significantly enhanced accessibility and increased trading opportunities through the creation of a new bar/events space and improved AV infrastructure; a full building survey; and a detailed Mechanical & Electrical report that identified that the air handling units for the building were nearing end of life (estimated three to five years). The overall cost of the works is budgeted in the region of £2M and securing the funds to deliver this work is now a priority for the company. As a result, a fundraising campaign is being launched in 2023/24 and the company is also redesignating £200,000 from a combination of unrestricted and designated reserves into a capital fund. It is hoped this fund will help to kickstart the wider fundraising initiatives; the redesignation will however still leave the company with sufficient reserves to cover 3 – 6 months operating costs.
More broadly, the Trust's policy continues to be one of maintaining financial viability alongside its strong artistic vision. Alongside these measures, a prudent approach will continue to be adopted towards budgeting and setting income targets for the annual programme of work, although the Trustees have been delighted to see strong growth in audiences in the early half of 2023/24. It is hoped that this growth will continue, ensuring that the theatre can continue to create high-quality work within its financial parameters.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
Scarborough Theatre Trust Limited is a company limited by guarantee governed by its Memorandum and Articles of Association dated 11 August 1964 and amended to allow for current governance arrangements on 29 August 2007. It is registered as a charity with the Charity Commission.
## **Appointment of new trustees**
As set out in the Articles of Association the chair of trustees is nominated by the Board. North Yorkshire County Council nominates one trustee. All members are circulated with invitations to nominate trustees prior to the AGM advising them of the retiring trustees and requesting nominations for the AGM. When considering trustees, the Board has regard to the requirement for any specialist skills needed.
## **Organisation**
The board of trustees administers the charity. The board meets quarterly and there is a sub-committee covering finance which meets quarterly. The board established a nominations committee responsible for developing the skills and diversity of the trustee membership and for planning recruitment and succession planning.
## **Trustee induction and training**
New trustees undergo training to brief them on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision making processes, the business plan and recent financial performance of the charity. Trustees are actively encouraged to attend appropriate external training events where these will facilitate the undertaking of their role. In addition, specific theatre finance training is given to those joining the Finance sub-committee.
## **Key management remuneration**
The trustees consider that the board along with the senior management team comprise the key management personnel of the charity and are in charge of directing and controlling, running and operating the Trust on a day to day basis. All the trustees give their time freely and none are remunerated. Details of expenses reimbursed during the year are shown in the notes to the accounts. The pay of senior staff is reviewed annually and normally increased in accordance with average earnings. In view of the nature of the charity, the trustees
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**SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE**
## **REPORT OF THE TRUSTEES For the Year Ended 31 March 2023**
benchmark against pay levels in other similar organisations in the North 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, particular attention has focused on non-financial risks arising from fire, health and safety of artists and audience, management of performing rights and food hygiene. A key element in the management of financial risk is the establishment of reserves and the regular review of a reserves policy by trustees.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Company number**
00815227 (England and Wales)
## **Registered Charity number**
253606
## **Registered office**
Stephen Joseph Theatre Westborough Scarborough North Yorkshire YO11 1JW
## **Trustees**
Ms H Boaden Ms K A Carmichael Mr D A Chance Councillor (appointed 2.9.22) Ms C Fitzpatrick Mr A J B Smith (resigned 2.12.22) Mr M J Wilkinson (resigned 2.12.22) 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
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**SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE**
## **REPORT OF THE TRUSTEES For the Year Ended 31 March 2023**
## **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**
The trustees (who are also the directors of Scarborough Theatre Trust Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for 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.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention 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**
The auditors, Fortus Audit LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................... Ms C Routh - Secretary
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**REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF SCARBOROUGH THEATRE TRUST LIMITED**
## **Opinion**
We have audited the financial statements of Scarborough Theatre Trust Limited (the 'parent charitable company') and its subsidiary (the ‘group’) for the year ended 31 March 2023 which comprise the consolidated Statement of Financial Activities, the group and parent company Balance Sheets, the consolidated Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the group’s and of the parent charitable company's affairs as at 31 March 2023 and of the group’s 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**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the group financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on Scarborough Theatre Trust Limited’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the group financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the group financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the group financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the group financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, 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.
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**REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF SCARBOROUGH THEATRE TRUST LIMITED**
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the group and the parent charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent charitable company 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**
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the parent charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the group’s and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.
## **Our responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We obtained an understanding of the legal and regulatory frameworks that are applicable to the group and determined that the most significant frameworks which are directly relevant to specific assertions in the financial statements are those that relate to the reporting framework (UK GAAP and the Companies Act 2006) and the relevant tax compliance regulations in the UK.
We understood how the group is complying with those frameworks by making enquiries of management and those responsible for legal and compliance procedures. We corroborated our enquiries through review of board minutes and discussions with those charged with governance.
We assessed the susceptibility of the group and the parent company’s financial statements to material misstatement, including how fraud might occur, by discussion with management from various parts of the business to understand where they considered there was a susceptibility to fraud. We considered the procedures and controls that the group and parent charitable company has established to prevent and detect fraud, and how these are monitored by management, and also any enhanced risk factors such as performance targets.
We also performed audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.
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**REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF SCARBOROUGH THEATRE TRUST LIMITED**
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditors responsibilities. This description forms part of our Report of the Independent Auditors.
## **Use of our report**
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Paul Dixon 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: .................................................................
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## **SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE**
## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) For the Year Ended 31 March 2023**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
**Charitable activities**
Operation of theatre
5
Other trading activities
3
Investment income
4
Theatre tax credit
**Total**
**EXPENDITURE ON**
Raising funds
6
**Charitable activities**
7
Operation of theatre
**Total**
**NET INCOME/(EXPENDITURE)**
**Net gains on investments**
**Transfers between funds**
21
**Net movement in funds**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
funds
£
119,938
1,658,096
123,728
729
346,163
2,248,654
78,840
2,222,696
__________
2,301,536
(52,882)
433
-
(52,449)
730,181
677,732|Restricted
funds
£
8,087
73,114
-
-
-
81,201
-
128,773
__________
128,773
(47,572)
-
-
(47,572)
496,425
448,853|2023
Total
funds
£
128,025
1,731,210
123,728
729
346,163
2,329,855
78,840
2,351,469
__________
2,430,309
(100,454)
433
-
(100,021)
1,226,606
1,126,585|2022
Total
funds
£
80,477
1,824,868
50,240
99
124,594
2,080,278
48,841
2,243,307
__________
2,292,148
(211,870)
-
-
(211,870)
1,438,476
1,226,606|
|---|---|---|---|---|
The notes form part of these financial statements
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## **SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE**
## **CONSOLIDATED AND CHARITY BALANCE SHEETS 31 MARCH 2023**
|
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**
**TOTAL FUNDS**
**FUNDS**
21
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|**Group**
2023
2022
£
£
185,468
226,681
100,433
100,000
285,901
326,681
2,416
2,829
749,325
444,205
619,085
736,718
1,370,826
1,183,752
(530,142)
(283,827)
__________
__________
840,684
899,925
1,126,585
1,226,606
__________
__________
1,126,585
1,226,606
677,732
730,181
448,853
496,425
1,126,585
1,226,606|**Company**
2023
2022
£
£
185,468
226,681
100,433
100,000
285,901
326,681
2,416
2,829
568,162
381,611
617,968
721,503
1,188,546
1,105,943
(423,127)
(269,371)
__________
__________
765,419
836,572
1,051,320
1,163,253
__________
__________
1,051,320
1,163,253
602,467
666,828
448,853
496,425
1,051,320
1,163,253|
|---|---|---|
A separate statement of financial activities (SOFA) and income and expenditure account are not presented for the charity itself following the exemption afforded by section 408 of the Companies Act 2006. The unconsolidated deficit of the parent charity was £111,933 (2022: deficit of £247,885)
The financial statements were approved by the Board of Trustees and authorised for issue on …………………. and were signed on its behalf by:
............................................. Ms H Boaden - Trustee
The notes form part of these financial statements
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## **SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE**
## **CONSOLIDATED CASH FLOW STATEMENT For the Year Ended 31 March 2023**
|Notes
**Cash flows from operating activities**
Cash generated from operations
A
Net cash used in 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**|2023
£
(86,287)
(86,287)
(32,075)
-
729
(31,346)
(117,633)
736,718
619,085|2022
£
(220,279)
(220,279)
(14,473)
(100,000)
99
(114,374)
(334,653)
1,071,371
736,718|
|---|---|---|
The notes form part of these financial statements
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## **SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE**
## **NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT For the Year Ended 31 March 2023**
## **A. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|**Net expenditure for the reporting period (as per the Statement of**
**Financial Activities)**
**Adjustments for:**
Depreciation charges
Interest received
Decrease/(increase) in stocks
Increase in debtors
Increase in creditors
**Net cash used in operations**
**B.**
**ANALYSIS OF CHANGES IN NET FUNDS**
At 1.4.22
£
**Net cash**
Cash at bank and in hand
736,718|2023
£
(100,454)
73,288
(729)
413
(305,120)
246,315
(86,287)
Cash flow
£
(117,633)|2022
£
(211,870)
71,892
(99)
(1,032)
(177,952)
98,782
(220,279)
At 31.3.23
£
619,085|
|---|---|---|
The notes form part of these financial statements
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**SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE**
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the Year Ended 31 March 2023**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention with the exception of investments which are included at market value.
Scarborough Theatre Trust Limited is a charitable private company limited by guarantee in England. The address and place of business is given in the charity information within the trustees’ report of these financial statements. The nature of the charity's operations and principal activities are to advance the arts, culture and heritage of the borough of Scarborough by providing an internationally recognised theatre.
The accounts are presented in £ Sterling which is functional currency of the charity.
## **Basis of consolidation**
The consolidated financial statements incorporate those of Scarborough Theatre Trust Limited and its subsidiary (i.e. the entity that the group controls through its power to govern the financial and operating policies so as to obtain economic benefits).
All financial statements are made up to 31 March 2023. Where necessary, adjustments are made to the financial statements of the subsidiary to bring the accounting policies used in line with those used by the group.
All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
For donations and grants to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation or grant and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.
Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.
Income received in advance of a theatrical performance or tour is deferred until the performance has been delivered and then at that point will be recognised as income in the accounts.
The trust's wholly owned subsidiary, Stephen Joseph Theatre Enterprises Limited, benefits from the receipt of theatre tax credits which it receives in relation to productions that are closely linked to the theatre's objects and activities. As a result, the company donates the tax credit to the trust and this is recognised in the accounts in the period to which the claim relates to match the treatment in the subsidiary accounts.
continued…
Page 13
**SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE**
**NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued For the Year Ended 31 March 2023**
## **1. ACCOUNTING POLICIES - continued**
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings 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**
Costs of generating funds are those costs incurred in attracting voluntary income and grants, and those incurred in trading activities that raise funds.
## **Charitable activities**
Charitable activities include expenditure associated with the staging of stage productions, tours, exhibitions and educational programmes and include both the direct costs and support costs relating to these activities.
## **Support costs**
Support costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over 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|
Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
## **Stocks**
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow-moving items.
Cost includes all costs of purchase and is calculated using the first-in, first-out basis. Provision is made for damaged, obsolete and slow-moving stock where appropriate.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities. The company is registered for VAT on a partial exemption basis.
## **Fund accounting**
Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are grants and donations which the donor has specified are to be solely used for particular areas of the Trust's work or for specific projects being undertaken by the Trust.
continued…
Page 14
**SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE**
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued For the Year Ended 31 March 2023**
## **1. ACCOUNTING POLICIES - continued**
## **Foreign currencies**
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **Going concern**
Because of the nature of its activities the Trust, in common with similar organisations, is dependent on grants for its continuing existence and there is no guarantee that such aid will continue indefinitely. The company is also dependent on its bankers for working capital at certain times. These accounts have been drawn up on a going concern basis on the assumption that grant funding and support from the Trust's bankers will continue.
The trustees have considered the impact of COVID-19 in relation to their assessment of going concern and in their opinion have taken all reasonable steps to mitigate these factors. As at the point of authorising the accounts, and for the foreseeable future, the directors consider the going concern assumption to still be appropriate. The trustees acknowledge that given the currently rapidly changing business and social environment, there are likely to be significant unknown factors which may present themselves. Such factors are considered by the trustees to represent a 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**
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising are recognised in the profit and loss account.
## **2. DONATIONS AND LEGACIES**
|Donations|2023
£
128,025
128,025|2022
£
80,477|
|---|---|---|
|||80,477|
Of the donations received in the year £8,087 relates to restricted funds (2022 - £872).
## **3. OTHER TRADING ACTIVITIES**
|2023
£
Programme sales
13,996
Sweets and ice creams
32,885
Bar sales
76,847
123,728|2022
£
-
16,401
33,839|
|---|---|
||50,240|
continued…
Page 15
**SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE**
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued For the Year Ended 31 March 2023**
|**4.**
**INVESTMENT INCOME**
Deposit account interest
**5.**
**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
Phillip Carne Trust
McCain's|2023
£
729
2023
£
517,590
75,000
18,000
839,467
13,650
242,111
25,392
-
1,731,210
2023
£
649,449
116,604
43,114
300
-
30,000
839,467|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|
|---|---|---|
Of the grant received in 2023, £73,114 related to restricted funds (2022 - £161,332).
continued…
Page 16
**SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE**
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued For the Year Ended 31 March 2023**
## **6. RAISING FUNDS**
## **Other trading activities**
|**Other trading activities**|||
|---|---|---|
|Bar, shop, sweets and ice cream purchases
Programmes
Development costs|2023
£
46,760
6,880
25,200
78,840|2022
£
10,047
13,228
25,566|
|||48,841|
## **7. CHARITABLE ACTIVITIES COSTS**
|**2023**
Operation of theatre
**2022**
Operation of theatre
**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
Designated fund expenditure
Depreciation|Direct
Costs (see
note 8)
£
2,342,374
2,235,907|Support
costs (see
note 9)
£
9,095
7,400
2023
£
888,622
27,500
10,467
31,644
82,990
6,589
6,412
80,957
202,733
41,963
465,700
14,852
27,741
3,504
3,263
11,629
61,484
10,647
23,703
4,049
1,852
28,141
75,152
419
6,148
97,441
53,484
73,288
2,342,374|Totals
£
2,351,469
2,243,307
2022
£
819,326
27,500
5,171
19,725
73,553
5,970
7,893
43,444
92,400
62,699
421,863
12,671
20,549
3,188
100
9,120
60,993
13,630
9,770
13,267
2,090
22,793
65,738
(760)
2,990
348,332
-
71,892
2,235,907|
|---|---|---|---|
## **8. DIRECT COSTS OF CHARITABLE ACTIVITIES**
continued…
Page 17
**SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE**
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued For the Year Ended 31 March 2023**
## **9. SUPPORT COSTS**
|**SUPPORT COSTS**|||
|---|---|---|
|||Governance|
|||costs|
|||£|
|Operation of theatre||9,095|
|Governance costs, included in the above, are as follows:|||
||2023|2022|
||£|£|
|Auditors' remuneration|7,095|6,500|
|Auditors' remuneration for non-audit|||
|work|2,000|900|
||9,095|7,400|
## **10. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
|Auditors' remuneration
Auditors' remuneration for non-audit work
Depreciation - owned assets|2023
£
7,095
2,000
73,288|2022
£
6,500
900
71,892|
|---|---|---|
## **11. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
## **12. STAFF COSTS**
|**STAFF COSTS**|||
|---|---|---|
|Wages and salaries
Social security costs
Other pension costs|2023
£
802,362
71,385
14,875
888,622|2022
£
745,395
60,915
13,016|
|||819,326|
continued…
Page 18
**SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE**
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued For the Year Ended 31 March 2023**
## **12. STAFF COSTS - continued**
The average monthly number of employees during the year was as follows:
|Fundraising of voluntary income
Operation of theatre|2023
1
71
72|2022
1
70|
|---|---|---|
|||71|
No employees received emoluments in excess of £60,000 in either the current or prior year.
The cost of key management personnel for the year was £294,843 (2022: £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
Theatre tax credit
**Total**
**EXPENDITURE ON**
Raising funds
**Charitable activities**
Operation of theatre
**Total**
**NET INCOME/(EXPENDITURE)**
**Transfers between funds**
**Net movement in funds**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
funds
£
79,605
1,663,536
50,240
99
124,594
1,918,074
48,841
1,858,616
__________
1,907,457
10,617
(7)
10,610
719,571
730,181|Restricted
funds
£
872
161,332
-
-
-
162,204
-
384,691
__________
384,691
(222,487)
7
(222,480)
718,905
496,425|2022
Total
funds
£
80,477
1,824,868
50,240
99
124,594
2,080,278
48,841
2,243,307
__________
2,292,148
(211,870)
-
(211,870)
1,438,476
1,226,606|
|---|---|---|---|
continued…
Page 19
**SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE**
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued For the Year Ended 31 March 2023**
## **14. GROUP AND CHARITY TANGIBLE FIXED ASSETS**
|Furniture,
fixtures,
Improvements
fittings
to
and
property
equipment
£
£
**COST**
At 1 April 2022
155,167
739,519
Additions
-
32,075
Disposals
-
(158,318)
At 31 March 2023
155,167
613,276
**DEPRECIATION**
At 1 April 2022
15,518
655,187
Charge for year
3,104
67,484
Eliminated on disposal
-
(158,318)
At 31 March 2023
18,622
564,353
**NET BOOK VALUE**
At 31 March 2023
136,545
48,923
At 31 March 2022
139,649
84,332|Motor
vehicles
£
13,500
-
-
13,500
10,800
2,700
-
13,500
-
2,700|Totals
£
908,186
32,075
(158,318)
781,943
681,505
73,288
(158,318)
596,475
185,468
226,681|
|---|---|---|
## **15. GROUP AND CHARITY FIXED ASSET INVESTMENTS**
|**GROUP AND CHARITY FIXED ASSET INVESTMENTS**||
|---|---|
||Unlisted|
||investments|
||£|
|**MARKET VALUE**||
|At 1 April 2022|100,000|
|Gains on revaluation|433|
|At 31 March 2023|100,433|
|**NET BOOK VALUE**||
|At 31 March 2023|100,433|
|At 31 March 2022|100,000|
There were no investment assets outside the UK.
The parent company's investments at the balance sheet date in the share capital of companies include the following: The investment is full impaired.
## **Stephen Joseph Theatre Enterprises Limited**
Registered office: Nature of business: Theatre Productions
% Class of share: holding Ordinary 100
continued…
Page 20
**SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE**
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued For the Year Ended 31 March 2023**
|**16.**
**STOCKS**
Stocks
**17.**
**DEBTORS**
**Group**
2023
2022
£
£
Amounts falling due within one year:
Trade debtors
47,546
11,331
Other debtors
10,000
7,420
Prepayments and accrued income
530,519
254,194
588,065
272,945
Amounts falling due after more than one year:
Other debtors
161,260
171,260
Aggregate amounts
749,325
444,205|2023
2022
£
£
2,416
2,829
**Company**
2023
2022
£
£
47,546
11,331
10,000
21,420
349,356
177,600
406,902
210,351
161,260
171,260
568,162
381,611|2023
2022
£
£
2,416
2,829
**Company**
2023
2022
£
£
47,546
11,331
10,000
21,420
349,356
177,600
406,902
210,351
161,260
171,260
568,162
381,611|2022
£
2,829|
|---|---|---|---|
|||210,351||
|||171,260||
|||381,611||
Other debtors falling due after more than one year relates to a loan made to Scarborough Theatre Development Trust under a loan agreement dated 9 January 2015. Under the agreement, the loan was repayable in full by 31 January 2020 and no interest is due if repaid in full by that date. 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**
|Receipts in advance
Trade creditors
Social security and other taxes
Amounts owed to group undertakings
Accrued expenses|**Group**
2023
2022
£
£
170,164
81,363
33,148
32,100
20,365
12,766
-
-
306,465
157,598
530,142
283,827|**Company**
2023
2022
£
£
170,164
81,363
33,148
32,100
20,365
12,806
12,040
12,001
187,410
131,101
423,127
269,371|**Company**
2023
2022
£
£
170,164
81,363
33,148
32,100
20,365
12,806
12,040
12,001
187,410
131,101
423,127
269,371|
|---|---|---|---|
||||269,371|
## **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|2023
£
27,500
110,000
1,058,750
1,196,250|2022
£
27,500
110,000
1,086,250|
|---|---|---|
|||1,223,750|
The above reflect the total amounts payable over the term of the lease for the theatre premises.
continued…
Page 21
**SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE**
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued For the Year Ended 31 March 2023**
## **20. ANALYSIS OF NET ASSETS BETWEEN FUNDS (GROUP)**
|**2023**
Fixed assets
Investments
Current assets
Current liabilities
**2022**
Fixed assets
Investments
Current assets
Current liabilities|Unrestricted
funds
£
48,072
100,433
1,059,369
(530,142)
677,732
Unrestricted
funds
£
55,667
100,000
858,341
(283,827)
730,181|Restricted
funds
£
137,396
-
311,457
-
448,853
Restricted
funds
£
171,014
-
325,411
-
496,425|Total
funds
£
185,468
100,433
1,370,826
(530,142)
1,126,585
Total
funds
£
226,681
100,000
1,183,752
(283,827)
1,226,606|
|---|---|---|---|
continued…
Page 22
**SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE**
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued For the Year Ended 31 March 2023**
## **21. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General fund
Innovation fund
Human resources and governance fund
Audience development fund
Captain Jack fund
**Restricted funds**
Benefactors account
Arts Council - Small Capital Grants
New Work & Talent Fund
Theatres Trust
Phillip Carne Trust
McCain’s Project
Culture Relief Fund
Garfield Weston Foundation
COAST
Mein Trust
Early Years Project
Feast (NYCC)
Yorkshire in Business
Dementia Friendly
**TOTAL FUNDS**|At 1.4.22
£
730,181
-
-
-
-
730,181
24,982
358,408
9,181
1,675
12,240
-
28,955
51,374
145
670
5,560
2,760
475
-
496,425
1,226,606||Net
movement
in funds
£
1,035
(32,100)
(21,384)
-
-
(52,449)
(4,047)
(3,104)
(1,904)
(80)
(15,000)
23,787
(28,070)
(42,541)
(10)
(670)
25,958
(2,760)
-
869
(47,572)
(98,021)||Transfers
between
funds
£
(210,000)
100,000
50,000
50,000
10,000
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-||
|---|---|---|---|---|---|---|
||||||||
||||||||
continued…
Page 23
## **SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE**
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued For the Year Ended 31 March 2023**
## **21. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Innovation fund
Human resources and governance fund
**Restricted funds**
Benefactors account
Arts Council - Small Capital Grants
New Work & Talent Fund
Theatres Trust
Phillip Carne Trust
McCain’s Project
Culture Relief Fund
Garfield Weston Foundation
COAST
Mein Trust
Early Years Project
Feast (NYCC)
Dementia Friendly (NYCC)
**TOTAL FUNDS**
**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
Early Years Project
Feast (NYCC)
Yorkshire in Business
**TOTAL FUNDS**|Income
£
2,248,654
-
-
2,248,654
811
-
7,277
-
-
30,000
-
-
-
-
40,444
1,600
1,069
81,201
2,329,855
At 1.4.21
£
719,571
26,663
361,512
9,181
29,149
4,307
2,240
9,880
32,221
237,752
5,000
1,000
-
-
-
718,905
1,438,476|Expenditure
£
(2,248,052)
(32,100)
(21,384)
(2,301,536)
(4,858)
(3,104)
(9,181)
(80)
(15,000)
(6,213)
(28,070)
(42,541)
(10)
(670)
(14,486)
(4,360)
(200)
(128,773)
(2,430,309)
Net
movement
in funds
£
10,617
(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)
(211,870)|Gains and
losses
£
433
-
-
433
-
-
-
-
-
-
-
-
-
-
-
-
-
-
433
Transfers
between
funds
£
(7)
-
-
-
7
-
-
-
-
-
-
-
-
-
-
7
-|Movement
in funds
£
3,035
(32,100)
(21,384)
(52,449)
(4,047)
(3,104)
(1,904)
(80)
(15,000)
23,787
(28,070)
(42,541)
(10)
(670)
25,958
(2,760)
869
(47,572)
(100,021)
At
31.3.22
£
730,181
24,982
358,408
9,181
-
1,675
12,240
-
28,955
51,374
145
670
5,560
2,760
475
496,425
1,226,606|
|---|---|---|---|---|
continued…
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**SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE**
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued For the Year Ended 31 March 2023**
## **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
McCain's Project
Oak Foundation
Culture Relief Fund
Garfield Weston Foundation
COAST
Mein Trust
Early Years Project
Feast (NYCC)
Yorkshire in Business
**TOTAL FUNDS**|Income
£
1,918,074
872
-
-
-
15,000
15,000
-
109,663
-
-
-
12,445
8,074
1,150
162,204
2,080,278|Expenditure
£
(1,907,457)
(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)
(2,292,148)|Movement
in funds
£
10,617
(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)
(211,870)|
|---|---|---|---|
## **22. RELATED PARTY DISCLOSURES**
Two directors also sit on the board of Scarborough Theatre Development Trust, who own the freehold property from which the company operates.
During the year, rent of £27,500 (2022: £27,500) was paid to Scarborough Theatre Development Trust under the 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.
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