**ROYALTY THEATRE SUNDERLAND (Charity Number 258246)**
**ANNUAL STATEMENT OF ACCOUNTS**
**YEAR ENDED 31 MARCH 2022**
## **ROYALTY THEATRE SUNDERLAND**
## **ANNUAL STATEMENT OF ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022**
____________________________________________________________________________________________
|**Contents**|**Pages**|
|---|---|
|Trustees’ report|1 – 4|
|Independent examiner’s report|5|
|Statement of financial activities|6|
|Balance sheet|7|
|Notes to the annual statement of accounts|8 – 14|
|**The following page does not form part of the**||
|**statutory accounts**||
|Bar profit and loss account|15|
,
## **ROYALTY THEATRE SUNDERLAND**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2022**
____________________________________________________________________________________________ **Reference and Administration Details**
_**Patron**_ **:** D. Parfitt BAFTA and Oscar Winning Film Producer
_**Trustees**_ **:** P. Reynolds J. Elphinstone (resigned 23/07/2021) M. Waine C. Kilvington
_**Chair:**_
M. Fletcher (died 08/06/2022 – Andrew Barella acting as chair until AGM on 22/07/2022)
_**Artistic Director**_ **:** H. Bowie _**Secretary**_ **:** M. Waine
_**Treasurer**_ **:** C. R. J. Chapman, FCA
_**Registered Address & Place of Business**_ **:** 25 The Royalty Sunderland SR2 7PP
_**Bankers**_ **:** Royal Bank of Scotland plc 1 Redheughs Avenue Edinburgh EH12 9JN
_**Solicitors**_ **:** Peter Dunn & Co 20 Athenaeum Street Sunderland SR1 1DH
_**Independent Examiner**_ **:** A. M. Henshaw FCCA Torgersens Chartered Accountants Somerford Buildings Norfolk Street Sunderland SR1 1EE
_**Status**_ **:**
The Charity is registered with the Charity Commissioners as number 258246.
Page 1
**ROYALTY THEATRE SUNDERLAND**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2022**
____________________________________________________________________________________________
## **Structure, Governance and Management**
## _**Constitution**_ **:**
The Royalty Theatre Sunderland (“the Charity”) is incorporated under a Constitution which sets out the objectives and purposes of the Charity. The accounts comply with current statutory requirements and the requirements of the Constitution. The ultimate responsibility for the management is vested in the Trustees who delegate the management to the Executive Committee.
## _**Trustees**_ **:**
The Constitution provides for a maximum of four Trustees, such Trustees to be nominated by a resolution of members at an Annual or Special General Meeting of the Charity. Trustees hold office until death, resignation, or removal from office.
## _**Executive Committee**_ **:**
The Executive Committee, to whom the Trustees delegate the day to day management of the Charity, comprises the Chairman, Vice Chairman, Secretary, Treasurer, Artistic Director, three Trustees, and seven other members all of whom, with the exception of the Trustees, are elected annually at the Annual General Meeting.
The Executive Committee meets once a month throughout the year to review, monitor and discuss the affairs of the Charity. Sub-Committees deal with certain aspects such as play selection, casting, production, and marketing reporting to the Executive Committee.
The Trustees would like to take this opportunity to thank all the members of the Executive Committee and the Sub Committees for their efforts during the year.
## _**Related Parties**_ **:**
There are no formal links between the Charity and any other charities or organisations. However, the Charity does donate the tickets for the first night of each main theatre production (except the pantomime) to some 9 or so charities with local representation.
## _**Statements of Trustee’s Responsibilities for the Accounts**_ **:**
The Charities Act 2011 requires the Trustees to keep proper books of account with respect to the affairs of the Charity, and to prepare statements of account for each accounting period consisting of an income and expenditure account and a balance sheet. The Trustees are also responsible for safeguarding the Charity’s assets, and hence for taking reasonable steps for the prevention and detection of error, fraud and other irregularities.
In preparing the accounts the Trustees are expected to:
- Select suitable accounting policies and apply them consistently;
- Make judgements and estimates that are reasonable and prudent;
- Follow the recommendations of the Charity Commission and of the accounting profession with regard to form and content of the accounts or to disclose and explain any departures therefrom; and
- Prepare the accounts on the going concern basis unless it is inappropriate to assume that the charity will be able to continue to meet its objectives.
Page 2
**ROYALTY THEATRE SUNDERLAND**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2022**
____________________________________________________________________________________________
## **Objectives and Activities**
The objectives of the Charity are to promote the art of drama and to develop the public appreciation therein, and towards these purposes, to accept subscriptions, donations, and gifts of all kinds. So as to achieve its objectives the Charity, through its members, performs several amateur drama productions during the year either in the main theatre (capacity 216) or the studio theatre (capacity 60).
Income arises from membership subscriptions, ticket sales, sponsorship, donations, external hires of both the main theatre and the studio theatre, raffles, entertainment and social evenings, sales of coffee, ice creams, sweets and from bar profits.
The Charity continually seeks sponsors for its productions and opportunities for the external hire of both theatres.
## **Achievement and Performance**
Due to COVID-19, the theatre remained closed until August 2021 when we held a four-night musical extravaganza which raised a significant amount of revenue by way of tickets and bar sales.
We have had an influx of new acting talent which is always welcome, and we look forward to seeing them in future plays. We would always like more members to join to help backstage with set building, lighting and front of house, as without these people the show would not go on.
Audiences for the music nights and Pantomime were excellent, however the audiences for the main shows have been low. We know people are more reluctant to venture out for entertainment following Covid, however we do provide a safe environment and welcome everyone to the theatre. We hope that next year we will see more people returning, we have missed you and we need you.
Our next season starting on September 2022 promises to be varied and enjoyable and we look forward to seeing everyone again.
## **Public Benefit Statement**
The trustees have had regard to the Charity Commission guidance on their legal duty on public benefit, and are satisfied that the charity delivers public benefit, and due regard is paid to the guidance on public benefit when deciding on what new projects the charity should undertake.
## **Financial Review**
## _**Reserves**_ **:**
The financial results for the year to 31 March 2022 show a profit on unrestricted reserves of £33,750 (2021: Loss £9,425. Income received on restricted funds related to the funding from SUEZ regarding the refurbishment of the kitchen.
Due to Covid-19 under Government guidelines, the theatre remained closed until August 2021. Any membership fee previously paid was held over again for the season September 2021 to June 2022.
Sunderland City Council paid us £15,934 over the financial year in the form of Covid grants. We also received loss of earnings from Hiscox insurance (due to a High Court ruling) amounting to £23,905. These two sums have carried us through this financial year together with a successful Pantomime and Music nights which provided us with approximately £23,000 profit overall.
The last quarter of the year saw the start of the increase in gas prices so we are fully aware that heating costs will rise significantly in the coming year.
The bank reserves at the end of March 2022 were £133,952 (2021: £101,515) and total reserves to carry forward were £322,755 (2021: £270,215). The Royalty Theatre reserves policy is well met with the reserves.
Page 3
## **ROYALTY THEATRE SUNDERLAND**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2022**
____________________________________________________________________________________________
## _**Risk Assessment:**_
The Trustees assess the major risks to which the Charity is exposed on a continual basis and are satisfied that the administrative, investment and financial procedures which are in place minimise the risk of any loss to the Charity.
Signed on behalf of the Trustees
M. Waine **Secretary**
Date:
Page 4
## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF ROYALTY THEATRE SUNDERLAND**
____________________________________________________________________________________________
I report to the trustees on my examination of the financial statements of The Royalty Theatre Sunderland ('the Charity') for the year ended 31 March 2022.
## **Responsibilities and basis of report**
As the trustees of the charity, you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or
2. the financial statements do not accord with those records; or
3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
**A. M. Henshaw FCCA Torgersens Chartered Accountants Somerford Buildings Norfolk Street Sunderland SR1 1EE**
Date:
Page 5
## **ROYALTY THEATRE SUNDERLAND**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022**
____________________________________________________________________________________________
|**Unrestricted**
**Restricted**
**Notes**
**Funds**
**Funds**
**£**
**£**
**INCOME**
Donations, legacies and similar incoming resources
2
3,203
19,997
Income from charitable activities
Theatre receipts
4
27,865
-
Bar sales
14,043
-
Other income
5
41,012
-
Income from investments
3
11
-
_______
_______
**TOTAL INCOME**
86,134
19,997
**EXPENDITURE**
Expenditure on charitable activities
Theatre running costs
6
40,718
-
Cost of running bar
7
9,738
-
Other expenditure
8
1,928
-
Expenditure on raising funds
9
-
-
Kitchen Refurbishment
10
-
1,207
_______
______
**TOTAL EXPENDITURE**
52,384
1,207
**Net income/(expenditure)**
33,750
18,790
Transfer between funds
19,997
(19,997)
_______
_______
**Net movement in funds**
53,747
(1,207)
Funds brought forward at 1 April 2021
209,021
61,194
_______
______
**FUNDS CARRIED FORWARD AT 31 MARCH 2022**
262,768
59,987|**Total**
**Funds**
**2022**
**£**
23,200
27,865
14,043
41,012
11
_______
106,131
40,718
9,738
1,928
-
1,207
_______
53,591
52,540
-
_______
52,540
270,215
_______
322,755|**Total**
**Funds**
**2021**
**£**
59,200
1,230
164
22,400
22
_______
83,016
28,277
803
1,661
2,500
-
_______
33,241
49,775
-
_______
49,775
220,440
_______
270,215|
|---|---|---|
The notes set out on pages 8 to 14 form part of these accounts
Page 6
**ROYALTY THEATRE SUNDERLAND**
## **BALANCE SHEET AT 31 MARCH 2022**
|_________________________________________________________
**Notes**
**FIXED ASSETS**
Tangible assets
14
**CURRENT ASSETS**
Stock
Debtors and prepayments
15
Cash at bank
16
Cash in hand
17
**CURRENT LIABILITIES: amounts falling due**
**within one year**
Creditors and accruals
18
**NET CURRENT ASSETS**
**TOTAL ASSETS**
**FUNDS**
19
Restricted
Unrestricted
- designated
- general|____________________
**2022**
**£**
**£**
184,532
949
6,420
133,952
341
141,662
3,439
138,223
322,755
59,987
184,532
78,236
262,768
322,755|_______________
**2021**
**£**
**£**
163,924
529
5,478
101,515
293
107,815
1,524
106,291
270,215
61,194
163,924
45,097
209,021
270,215|
|---|---|---|
The accounts were approved by the Trustees on and signed on their behalf by:
…………………………………………….. A. Barella
……………………………………………..
M. Waine
Vice Chair Secretary Treasurer
……………………………………………..
C. R. J. Chapman
The notes set out on pages 8 to 14 form part of these accounts
Page 7
**ROYALTY THEATRE SUNDERLAND**
## **NOTES FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022**
## **1. ACCOUNTING POLICIES**
## _Basis of Preparation_
These accounts have been prepared under the historical cost convention and in accordance with:
- i) the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2015 (SORP 2015)
- ii) the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)
- iii) the Charities Act 2011.
The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these accounts are rounded to the nearest £.
The principal accounting policies adopted are:
## a)
## **Accounting for income**
Cash donations, legacies, income from productions in terms of ticket sales, bar income, membership subscriptions and other income are treated as income in the year in which they are received. Income from the sale of coffees, ice creams, sweets, raffles and theatre and studio hire are included in the statement of financial activities, net of directly related expenditure, in the year to which they relate.
Income from Investments
Bank interest is included in the Statement of Financial Activities on the accrual’s basis.
## b)
## **Expenditure**
All revenue expenditure is accounted for when incurred. Expenditure relating to specialist activities or projects is shown under Charitable Activities. Expenditure relating to the general running of the charity and to adhere to laws and regulations is shown under other costs.
## c)
## **Fixed assets**
Fixed assets are stated at cost less depreciation.
Depreciation is provided on the tangible fixed assets, at the following rates, based on the estimated useful life of these fixed assets and their anticipated residual value:
|Freehold theatre|2%|straight line|
|---|---|---|
|New bar|10%|straight line|
|Bar fixtures and fittings|10%|straight line|
|Theatre fixtures and fittings|10%|straight line|
|Technical fixtures|10%|straight line|
## d) **Bar stocks**
Bar stock is valued at the lower of cost and net realisable value. Cost is determined on a first-in, first-out basis. Net realisable value is based on estimated selling price, less any further cost of realisation.
Page 8
**ROYALTY THEATRE SUNDERLAND**
## **NOTES FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022**
____________________________________________________________________________________________
## **1. ACCOUNTING POLICIES (continued)**
- e) **Funds**
Funds held by the charity are used for:
Unrestricted funds comprise those funds which the trustees are free to use in accordance with the charitable objectives.
Designated funds are unrestricted funds earmarked by the trustees for particular purposes.
Restricted funds are funds which are to be used for specific purposes as laid down by the donor or by specific terms of the appeal under which the funds are raised. Expenditure which meets this criteria is charged to the fund, with a fair allocation of management and support costs.
## f) **Going concern**
The trustees consider that there are no material uncertainties over the charities ability to continue as a going concern. The Covid-19 pandemic has had an impact on the charities income from ticket sales and hire of the main theatre and studio due to being closed due to being closed for 4 months of the financial year, however from August 2021 onwards the charity was able to operate as normal.. The charity has received funding from Sunderland Council throughout the first portion of the year to contribute towards general expenditure and upkeep of the premises.
## **2. DONATIONS, LEGACIES AND SIMILAR INCOMING RESOURCES**
## **3.**
## **4.**
||**Restricted**|**Unrestricted**|**Unrestricted**|
|---|---|---|---|
|||**Funds**|**Funds**|
||**2022**|**2022**|**2021**|
||**£**|**£**|**£**|
|Donations|-|536|59,200|
|SUEZ Kitchen Refurbishment Grant|19,997|2,667|-|
||______|______|_______|
||19,997|3,203|59,200|
|||**Unrestricted**|**Unrestricted**|
|||**Funds**|**Funds**|
|**INVESTMENT INCOME**||**2022**|**2021**|
|||**£**|**£**|
|Bank interest (gross)||11|22|
|||**Unrestricted**|**Unrestricted**|
|||**Funds**|**Funds**|
|**THEATRE RECEIPTS**||**2022**|**2021**|
|||**£**|**£**|
|Membership subscriptions||355|-|
|Ticket sales (net of commission)||25,710|1,230|
|Hire of main theatre||1,800|-|
|||27,865|1,230|
Page 9
**ROYALTY THEATRE SUNDERLAND**
## **NOTES FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022**
____________________________________________________________________________________________
|||**Unrestricted**|**Unrestricted**|
|---|---|---|---|
|||**Funds**|**Funds**|
|**5.**|**OTHER INCOME**|**2022**|**2021**|
|||**£**|**£**|
||Sunderland County Council- Covid Support|15,934|22,400|
||Hiscox Insurance Income|23,905|-|
||Net income from sale of sweets|||
||Coffees, ice creams and raffle tickets etc|1,173|-|
|||____|_|
|||41,012|22,400|
|**6.**|**THEATRE RUNNING COSTS**|**2022**|**2021**|
|||**£**|**£**|
||Production costs|1,389|127|
||Royalties|2,650|69|
||Publicity (net of grants)|1,402|102|
||Wages and cleaning|9,846|9,480|
||Repairs and renewals|1,364|552|
||Theatre Canopy Repair (net of insurance)|158|-|
||Insurance|3,980|4,349|
||Printing, postage and stationery|86|139|
||Rates and council tax|437|232|
||Heat, light and water|6,870|4,000|
||Telephone|457|356|
||Depreciation|9,627|7,191|
||LTG conference costs|88|-|
||Bank charges|330|94|
||Sum up charges|160|-|
||Website|694|160|
||Scripts net of sales|612|-|
||Donations|216|-|
||Irrecoverable VAT|-|264|
||Maintenance and tech consumables|-|780|
||TV licence and software|289|307|
||Worldpay charges|63|75|
|||40,718|28,277|
Theatre running costs were £40,718 (2021: £28,277) of which £40,718 was unrestricted (2021: £28,277) and £nil was restricted (2021: £nil).
||£nil was restricted (2021: £nil).|||
|---|---|---|---|
|||**Unrestricted**|**Unrestricted**|
|||**Funds**|**Funds**|
|**7.**|**COSTS OF RUNNING BAR**|**2022**|**2021**|
|||**£**|**£**|
||Cost of bar sales|9,571|216|
||Expenses|34|-|
||Depreciation of fixtures and fittings|133|115|
||Covid – write off of out of date stock|-|472|
|||9,738|803|
Page 10
## **ROYALTY THEATRE SUNDERLAND**
## **NOTES FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022**
____________________________________________________________________________________________
|||**Unrestricted**|**Unrestricted**|
|---|---|---|---|
|||**Funds**|**Funds**|
|**8.**|**OTHER EXPENDITURE**|**2022**|**2021**|
|||**£**|**£**|
||Subscriptions and licences|440|574|
||Sundries|149|3|
||Professional fees|1,300|1,084|
||AGM/Christmas refreshments|39|-|
|||1,928|1,661|
|||**Unrestricted**|**Unrestricted**|
|||**Funds**|**Funds**|
|**9.**|**EXPENDITURE ON RAISING FUNDS**|**2022**|**2021**|
|||**£**|**£**|
||Fundraising costs|-|2,500|
|**10.**|**KITCHEN REFURBISHMENT**|**2022**|**2021**|
|||**£**|**£**|
||Kitchen Refurbishment|1,207|-|
## **11. EMPLOYEES**
During the current and preceding year The Royalty Theatre employed no key management personnel. During the current and preceding year the Royalty Theatre employed one member of staff. The employee has had no employee benefits in excess of £60,000 (2021: £nil).
## **12. TRUSTEES**
No Trustee received or is due to receive any remuneration or reimbursement of expenses directly or indirectly from the charity funds.
## **13. TAXATION**
The charity considers its activities to be exempt from corporation tax by virtue of Section 505 of the Income and Corporation Taxes Act 1988.
Page 11
## **ROYALTY THEATRE SUNDERLAND**
## **NOTES FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022**
____________________________________________________________________________________________
|**14.**
**TANGIBLE FIXED ASSETS**
**Freehold**
**Theatre**
**New Bar**
**£**
**£**
**Cost**
At 1 April 2021
193,434
7,784
Additions
-
-
Disposals
-
-
At 31 March 2022
193,434
7,784
**Depreciation**
At 1 April 2021
45,005
7,783
Charge for year
3,869
-
Disposals
-
__ -
At 31 March 2022
48,874
7,783
**Net Book Value**
At 31 March 2022
144,560
1
At 31 March 2021
148,429
1
**15.**
**DEBTORS AND PREPAYMENTS**
Other debtors
VAT
Prepayments
**16.**
**CASH AT BANK**
Royal Bank of Scotland plc
**17.**
**CASH IN HAND**
Theatre float
Bar
Entertainment committee
**18.**
**CREDITORS: Amounts falling due**
**within one year**
Other creditors and accruals
VAT|**Technical**
**Theatre**
**Equipment**
**£**
**£**
89,506
10,446
28,394
1,792
(4,517)
-
113,383
12,238
80,605
4,590
4,544
1,214
(4,517)
-
80,632
5,804
32,751
6,434
8,901
5,856|**Bar**
**£**
2,638
182
-
2,820
1,901
133
-
2,034
786
737
**2022**
**£**
-
1,408
5,012
6,420
**2022**
**£**
133,952
**2022**
**£**
100
58
183
341
**2022**
**£**
3,236
203
_
3,439|**Total**
**£**
303,808
30,368
(4,517)
329,659
139,884
9,760
(4,517)
145,127
184,532
163,924
**2021**
**£**
-
-
5,478
5,478
**2021**
**£**
101,515
**2021**
**£**
-
110
183
293
**2021**
**£**
1,176
348
_
1,524|**Total**
**£**
303,808
30,368
(4,517)|
|---|---|---|---|---|
|||||
329,659|
|||||
139,884
9,760
(4,517)|
|||||
145,127|
|||||
184,532|
|||||
163,924|
|||
|
||
Page 12
## **ROYALTY THEATRE SUNDERLAND**
## **NOTES FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022**
____________________________________________________________________________________________
|**19.**
**FUNDS**
**@**
**Unrestricted Funds**
Designated
Capital account
General fund
Total Unrestricted Funds
Restricted Funds
Refurbishment fund
Total Funds
**FUNDS – prior year**
**@**
**Unrestricted Funds**
Designated
Capital account
General fund
Total Unrestricted Funds
Restricted Funds
Refurbishment fund
Total Funds|**B/fwd**
**01.04.21**
163,924
45,097
209,021
61,194
270,215
**B/fwd**
**01.04.20**
170,550
47,896
218,446
1,994
220,440||**Income**
**Expenditure Transfers**
**@**
-
(9,760)
30,368
86,134
(42,624)
(10,371)
86,134
(52,384)
19,997
19,997
(1,207)
(19,997)
106,131
(53,591)
-
**Income**
**Expenditure Transfers**
**@**
-
(7,306)
680
23,816
(25,935)
(680)
23,816
(33,241)
-
59,200
-
-
83,016
(33,241)
-|**Balance**
**31.03.22**
184,532
78,236|
|---|---|---|---|---|
|||||
262,768|
|||||
59,987|
|||||
322,755|
|||||
**Balance**
**31.03.21**
163,924
45,097|
|||||
209,021|
|||||
61,194|
|||||
270,215|
The capital account represents the net book value of tangible fixed assets held at the balance sheet date. Transfers represent the movement in assets during the year.
The restricted refurbishment fund represents donations and grants received from fundraising undertaken specifically for refurbishment plans.
## **22. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
|**Restricted Unrestricted**
**General**
**Designated**
**£**
**£**
**£**
Fixed assets
-
-
184,532
Net current assets
59,987
78,236
-
_____
______
_______
59,987
78,236
184,532|**Total**
**£**
184,532
138,223
_______
322,755|
|---|---|
Page 13
**ROYALTY THEATRE SUNDERLAND**
## **NOTES FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022**
____________________________________________________________________________________________
## **22. ANALYSIS OF NET ASSETS BETWEEN FUNDS (continued)**
## **ANALYSIS OF NET ASSETS BETWEEN FUNDS- prior year**
|**Restricted Unrestricted**
**General**
**Designated**
**£**
**£**
**£**
Fixed assets
-
-
163,924
Net current assets
61,194
45,097
-
_____
_______
_______
61,194
45,097
163,924|**Total**
**£**
163,924
106,291
_______
270,215|
|---|---|
Page 14
**ROYALTY THEATRE SUNDERLAND**
## **BAR PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 2022**
____________________________________________________________________________________________
|**SALES**
**DEDUCT: COST OF SALES**
Stock at 1 April 2021
**Add:**Purchases
**Less:**Stock at 31 March 2022
**GROSS PROFIT / (LOSS)**
**DEDUCT: EXPENSES**
Cleaning & stationery
**DEDUCT: DEPRECIATION**
Fixtures and fittings
**NET PROFIT / (LOSS)**|**2022**
**£**
358
9,821
10,179
608
(31.8%)|
**2021**
**£**
**£**
14,043
830
216
1,046
9,571
358
4,472
(-320%)
34
4,438
133
______
4,305
|**£**
164
688
(524)
-
(524)
115
______
(639)|
|---|---|---|---|
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