Commi4ion ROYALTY THEATRE SUNDERLAND (Charlty Number 258246) ANNUAL STATEMENT OF ACCOUNTS YEAR ENDED 31 MARCH 2024
ROYALTY THEATRE SUNDERLAND AY4NUAL STATEMENT OF ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 CDnt¢ttts Pages Tns, report Independent examiner's report Statement of financial activities Balance sheet Notes to the annual statement of acCOts 8-14 The followlng page does not form part of the Statutory ac¢ount5 Bar profit and loss OUnt 15
ROYALTY THEATRE SUNDERLAND TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 Reference and Adminirtration Detai Palron: D. PaTfitt BAFTA and oscar Winning Film Prtsjucer Trustees: P. Reynolds M. Waine C. Kilvington Ch4ir.' A. Barella Artistic Direelor: H. Bowie (Resigned 2810712023) Secrelary: M. Waine Treasurer: C. R. J. Chapman. FCA R¢gis¢eredAddress & Pl4¢e ofBusiness: 25 The Royalty Sunderland SR2 7PP Bankers: Royal Bank of Scotland plc l Redheugbs Avenue Edinburgh EH12 9JN Soltciiors: Peter Dunn & Co 20 Athenaeum Street Sunderland SRI IDH Independent EYami*er. A. M. Henshaw FCCA Tor8ersens Chartered AcUntantS East Suite, Ground Floor Avalon House St Catherine's Court Sunderland SR5 3XJ si4lus- The Charity is registered with the Charity Commissioners as number 258246. Pag¢ I
ROYALTY THEATRE SUNDERLAND TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 Structure, Governan¢e and Management Contsts'lulion: The Royalty Theatre Sunderland ("the Charity") is incorporated under a CoDstitution which s¢ts out the objectives and purposes of the Charity. The accounts comply with current statutory requirements and the requirements of tbe Conslitution. The ultimate responsibility for the management is vcst¢d in the Trustees who delegate the manag¢m¢nt to the Executive Committee. Trmstees: The Constitution provides for a maximum of four TTUStees, such Trustees to be nominat¢d by a resolution of m¢mbers at all Annual ot Special General Meeting of the Charity. Tn*¢$ hold office until deatl T¢$ignation, or removal from office. Eyecutlve Compnittee." The Executive Committee, to whom the Trustees delegat¢ the day to day management of the Cjwity. comprises the chairnia Vice Chairman, Secretary. Treasurer, Artisti¢ Director, three Trustees, alld seven oth¢T m¢n]bers a]1 of whom, with the exception of the TTUStrKs, are elected annually at the Annual GenerAI Meeting. The Execub'v¢ Committee meets once a month throughout the year to review. monitor a))d disc$$ the affairs of the Charity. Sub-conmiittees deal with certain aspects such as play selection. castingj productio and Marketll reporting lo the Executive Committee. The Trustees would like to take this opportunity to thank all the members of the Ex¢cutive Committee And the Sub Committees for their efforts during the year. RelutedParties: There are no fomal links betwttn the Clrity atxl any other charities or org8nisations. However. th¢ Charity does donate the tickets for the first rright of each main theatr¢ production (except the pantomime) to some 9 or so charities with local rq)T¢sentation. Smiements olTrMst¢e's Responsibilitiesfor theAccoMnts: The Charities Act 2011 requires the Tnte¢S to keep proper books of 0t with respect to the affairs of the Charity, and to prepare statements of account for ea¢h accounting period consisting of an income and expenditure COUnt and & balaDce sheet. The Tnte¢S also responsible for safeguarding the Charity's assets. and hence for tsking reasonable steps for the preventt'on and dettion of error, fraud and other irregularities. tn preparing the accounts the Truste¢s are ¢xp¢cted to: S¢l¢d Suitable Accounting policies and apply them consistently. Make judg¢nwits and estimates that ar¢ r¢asonable aDd prudent" Follow the recommendations of the Clwity Commission and of the countIng profession with regard to fomi and content of the accounts or to disclose and explain any departures Iher¢fri)rn' and Prepare the accounts on the going concern basis unless 1¢ is inappropriate to assume that the clwity will be able to continue to meel its objectives. Pag¢ 2
ROYALTY THEATRE SUNDERLAND TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 Objecdves and Artivlties The objectives of the Charity are to promote the art of drama and to develop the publi¢ appreciation therein, and towards these PUTPOSeS. to accept subscriptions, donations, and gifts of all kinds. So &s to achieve its objectives the CbaTity, through its members, perforn)s 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. ¢xt¢rnal hires of both the main theatre and the studio theatre, raffles, entertainment and social evenings, sales of coffee. 1¢¢ ¢r¢ams, sweets and from bar profits. The Charity continUlY Seeks sponsors for its pr(Mluctions and opportunities for the external hire of both theatres. Achlevement and Perforniance We hav¢ perforn)ed a diverse variety of plays tl)is year which has introducgd some new actors to our th¢atr¢. Audiences for both the mustc tttght and pantomime were again excellent and this provides the main reveDU¢ for the th¢atre. Our n1n stage productions have b¢¢n acclaimed for the actors performance and we have seen improved audience numbeTS, but still not back to PTe-¢ovid l¢v¢l5. We held the Dwham and Sunderland One Act drama festival at the end of Febnwy which saw six entrie8 from I{81 th¢atre groups a5 well as our own enty, a veTsion of 'Far From The Madding Crowd.. This brought in a different audience which w¢ hope has showcased our theatre. 2025 sees us celebrnte l(Kl years ai our present location. We are hoping to put on a s¢l¢¢tion of the plays that we have previously perfornjed over th¢ coming two seasons, such as 'Private Lives, and June 2025 will see perforni 'The Wedding Singtt, musical. which will also be showcased durlng the National Little Th¢atre Guild conference also being held at our theatre. We look forward to another sU¢¢¢$$fi y¢ar and hope to see our audiences again. We look forward to s¢¢in8 YOU Publi¢ Benefit Statement The trustees have had regard to the ChaTity Conllnission guidance on their legal duty on public benefit, alld #re satisfied that the charity delivers public benefit, and regard is paid to the guidance on public benefit when deciding on what new projects the ¢haTity should undertake. FlnanclAI Revlew Reserves.. The financial results for the year to 31 MaT¢h 2024 show a profit on unrestricted reserves of £3,807 (2023: Loss £17.923). Of this profit £7.671 (2023: £6.051) T¢lai¢d to the bar activities, meaning that the theatre made a small lo&$ for the year of £3,864 (2023: £23.974). There has bttn a large sItIve swing during the year of the theatre's profitability. During the year we used £22.32] on the construction of att accessibility toilet from funds rcc¢ivcd from Catherine Cookson which had b¢¢n held on deposit until we were ready to complete the proje¢L This eXpdItre has been another 8l¢p forward in making our theatre accessible lo all. Next y¢ar we plan to iJ)stall a riser lift so that it will make it easier to take people into dLe auditOTium rdther than th¢ cuent steps. which can be an issue. We will again use the balance of the Catherine Cookson money to fund this. Membership income has reduced again this year, we think that it is due to lower audien¢¢ numbers. meaning there is always room to sil, so no need to book seats in thrance even if they got one play for free. We are looking to rest¢tre our membership sch¢m¢ to m&ke il more enticing and provide rnOTe benefIts for members. Page 3
ROYALTY THEATRE SUNDERLAND TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 At the ¢nd of the last financial year we changed gas provider for the theatre and this bas significantly reduced our bills. Bank re8erves at 31 March 2024 were £98.426 (2023.. £114,695) and total Te5erYes to cany forward were £308,639 {2023.. £304.832). The Royalty Theatre reserves policy is well met with r¢serves. Ruk Assessment.. The Trustees assess the major risks to whi¢h the Charity is exposed on a continuaL basis and are satisfied that the admiDistrativ¢, investment and financial procedu$ which are in place minimise the risk of any loss to the Cl)aTity. Signed on behalf of the Trustees M. Waine Se¢ret8ry Date: Pag¢ 4
INDEPENDENT EXAMINER?S REPORT TO THE TRUSTEES OF ROYALTY THEATRE SUNDERLAND I report to the trustses on my examination of the financial ststements of The Royalty Theatre Sund¢Tland (*h¢ Charity,) forthe year ended 31 March 2024. Responslbllltles and basts of report As the tsustees of the charity, you are responsible for the preparation of the financial stst¢m¢nts in accordanrK Ivith th¢ requirements of the Charities Act 2011 {'the Act.). I report in respect of my examination of the charity's fmancial stal¢ments CWTi¢d out und¢r section 145 of th¢ 2011 Act and in carying out my examination I have followed all th¢ applicable Directions given by the Charity Commission under stIOn 145(5)(b) of the ACL Independent eMiner'S statement I have completed my examination. I confimi that no material matters have come lo my attention in connection with the examination giving m¢ Cause to believe d1 in any Matla1 respect.. . aoUntIng re¢4)rds were not k¢pt in tespe¢t of th¢ ¢lwity as required by section 130 of the Act. or 2. the f]nancial statements do nol accord with those reconts. or 3. the financial statements do not comply with the applicable requirements conc]ng the forni and ¢ont¢nt of accounts set out in the Clwities (Accounts and Rq)orts) Regulations 2008 other than any requircm¢nt that the accounts give a ,tn and fair. view which is not a matter consid¢red as part of an independent examination. I have no concerns and have come across no other matters in connection with th¢ exgmination to Nvhirh att¢ntion should k drnwn in this report in Order to enAbl¢ a proper undwstanding of the aecounts to be reached. A. M. Henshaw FCCA Torgersens Chartered A¢tants East Suitfy Ground Floor Avalon Hou%e St Catherine's Court Sllnderland SR5 3XJ Date: Oz 1071 Page 5
ROYALTY THEATRE SUNDERLAND STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ELYDED 31 MARCH 2024 Total FuDds 2024 Total Funds 2023 Unrestricted Funds Restrieted Fvnds Notes INCOME Donations, legacies and similar incoming resouTces 6.781 6,781 17 Income from charitable activities Theatre receipts Bar sales Other income 37,865 18,988 5,121 37,865 18,988 5,121 37.290 17,988 2.839 Income from investments 1,457 1,457 526 TOTAL INCOME 70 EXPENDITURE Expenditure on charitsble activities Theatr¢ running costs Cost of running bar Other expenditure 51.751 11.317 3.337 51.751 11.317 3,337 62,562 11,937 2,084 TOTAL EXPEY4DITURE Net Incomel(eIpenditure) 3,807 3,807 (17,923) Transfer between fijnds 22,321 {22,321) Net movement in funds Funds brought forward at A April 2023 244.845 59,987 304,832 322.755 FUNDS CARRIED FORWARD AT 31 MARCH 2024 The notes set out on page5 8 to 14 forni part of these acwunts Page 6
ROYALTY THEATRE SUNDERLAND BALANCE SHEET AT 31 MARCH 2024 Notes 2024 2023 FIXED ASSETS Tangible assets 12 206,460 189.141 CURREY4T ASSETS Stock Debtors and prepanents Cash 8t bank C&qh in hand 1,275 4,786 98.426 280 986 3,468 114,695 180 13 14 15 li CURRENT LIABILITIES: amounts falling due withfin olle year Creditors and accrLthIs 16 NET CURRENT ASSETS 115691 TOTAL ASSETS 17 R¢5tri¢tcd Unrestricted - designated - g¢n¢ral 37,666 59,987 206,460 189,141 270 973 The accounts were approved by the TneS on ts llo l ty and signed on their behalf b A. Barella Secretary M. Waine Treasurer C. R. J. Chapman The notes set out ori page5 8 to 14 forni part of these accounts P88e 7
ROYALTY THEATRE SUM)ERLAND NOTES FORMtNG PART OF THE ACCOUNTS FOR THE YEAR DED 31 MARCH 2024 ACCOUNTThG POLICIES Basis ofPrepurnrion These accounts have Ixen Prepar under the hisloricol cost ¢onvention and in accordaw¢ with: the Statement of R9mmeDd¢d Practice: Accounting and Rep)rting by Charities preparing their counts in accordance with the Financial Reporting Standards applicabl¢ in the UK and Republic of trcland (FRS 102) ¢ff¢ctive l January 2015 (SORP 2015) the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) the Charities Act 2011. The accounts are prepared in sterling. which is the fimctionaI aurency of the charity. Monetary amounts in these accounts Are rounded to the rJ¢arest £. The Principal accounting p)lici¢s adopt are.. Accounttng for in¢ome Cash donations. legacies. income from prodtiOnS in tern of ticket sales. bar income, membersbip subscriptions and other income are treated &$ income ill the year An which they are received. Jn¢ome from the sal¢ of coffees, ice creams, Sweets, raffles and theatre and sttjdio hire are included in the statement of financial activities, net of directly related ¢xpenditure, in the yw to which they relate. Income from Investments Bank interest is included in the Statement of Financial Activities on the a¢¢nl'S basis. b) Expenditllre All rev¢nu¢ expenditure is accounted for when incurred. Expenditure relating to specia]ist activities or projects is showD under Charitable Activities. Expenditure relating to tk general nmnin8 of the cltsrity and to ailhere to laws and regulations is shown under other costs. Flxed assets Ftxed assets are slat¢d at C05t l¢ss depreciation. Depreciation is provided on the tangible fLxed assets. at the following rntes. based on the estimated useful life of thes¢ fixed assets and their anticipated residual value.. Fffehold theatre Newb Bar fixtures and fittings Theatre fixtures and fittings Technical fixtures 20/ty straight lin¢ IO/ straight line l 0/0 straight line IOO/o stralghi line IOO/o straight line d) Bar stoeks Bar stock is vajued at the lower of cost and net realtsoble v&lu¢. Cost is detennin¢d on a first-in, fnt-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 Accouwrs FOR THE YEAR ENDED 31 MARCH 2024 ACCOUIYTING POLICIES {contiDued) Funds Funds held by the charity uwl for.. Unreslricted fimds comprise those fund5 which th¢ tntee$ are free lo use in accordaJ)ce with the clwitable objeclive5. Designated funds are unrestrict¢d fiujds by th¢ trustees for particular pwposes. Restricted fillmts are funds which aT¢ to b¢ used for specific purposes as laid down by the donor or by specific ternis of the appeal under which the funds are raised. Expenditure which meets this criteria is charged lo the fund, with a fair allocation of management and support costs. GolDg concern The trustees consider that there are no material uncertainties over the cl)arAty's ability to continue as A going ¢onc¢rn. DONATION& LEGACIES AND SIMILAR INCOMING RESOURCES Restricted Unre5trirted Fllnd8 2024 Total Funds 2023 2024 Donations Legacies 102 6,679 17 Income for the year ended 31 March 2023 ronsist¢d of £17 unrestricted funds Unrestrlcted Unrestrlcted Fundg Funds 2024 2023 INVESTMENT INCOME Bank intertst (gross) 1.452 Unrestrieted Unrestricted Funds Funds 2024 2023 THEATRE RECEIPTS Membership subscrlptions Ticket sales {net of commission) HiTe of main the&tr¢ 3,8 29,560 3.725 29,205 Page 9
ROYALTY THEATRE SUNDERLAND NOTES FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 Unre5trirt¢d Vnregtricted Funds Funds 2024 2023 OTHER INCOME EntertaIent committee Insurnnce monies Teceived Net income from sal¢ of sw Coffees, ice creams and raffle tickets etc 17 3,277 1,726 THEATRE RUNNING COSTS 2024 2023 Production costs Royalties Publicity (net of grants) Wages and cleaning Repairs and renwals Insurance Prtnting. postage and ststionery Rates and council tax Heat. light and water Telephone Depreciation LTG conference costs Bank charges Sum up charges Website Scripts net of sales Donations TV licence and sotiware Loss on distrf)sal of assets Flowers for foyer Worldpay charges 1.510 1,830 1,199 11,352 4,898 5,351 182 973 10.506 477 10,775 1,724 4,045 2,378 10,167 7.153 5.545 374 1.157 15.088 543 9,802 143 411 298 607 615 1.590 294 475 134 19 445 359 65 488 1,039 302 Theatre rullning costs weTe £51,751 (2023: £62,562) of which £51,751 w&s estrICted (2023: £62.562) and £nil was r¢stiiGted (2023: £nil). Unrestrlcted Unrestrfttted Fllnds Funds 2024 2023 COSTS OF RUIYNING BAR Cost of bar sales Expcnses Depreciation of fixbjres and fittings 10,313 796 11,138 591 208 Page 10
ROYALTY THEATRE SUNDERLAND NOTES FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Unrestricted Funds Funds 2024 2023 OTHER ExPE,D1TuRE Subscriptions and licences Sundries Professional fees AGMIChrAslmas refreshments 1,608 39 1,650 285 54 1,715 30 EMPLOYEES During the curyent and preceding year The Royalty Th¢atr¢ employed no key manageEnent personnel. I)urin8 the cent and preceding year the Royalty Theatre eniployed one member of ststy. The employee has had no employee benefits in ex¢ess of £60.(M)0 {2023.. £nil). 10. TRUSTEES No Trustee received or is due to receive any remun¢Tation or reimburSeMt of expenses directty or indirectly from the chaTity fun(L8. 11. TAXATION The charity considers its activities t4) be exempt from ¢on)orntion tsx by virtue of Sertion 505 of the ]ncome and Corporation Taxes Act 1988. 12. TANGIBLE FIXED ASSETS Freehold Theatre Ttthnlcll Equipment New Bar Theatre Total Cost At l April 2023 Additions Disposals At 31 March 2024 204.863 22.321 7,784 106.730 5.888 12,923 93 3,465 335.765 28.302 Depreciation At l April 2023 Cbarge for yellr Disposals At 31 March 2024 52,873 4.544 7.783 76,866 5.076 6,959 1,155 2.143 208 146,624 10,983 Net Book Value 16 At 31 March 2024 7 At 31 March 2023 Pagell
ROYALTY THEATRE SUNDERLAND NOTES FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 13. DEBTORS AND PREPAYMENTS 2024 2023 Other dcbtors VAT 1.016 1291 136 3,053 279 Prepajinents 14. CASH AT BANK 2024 2023 Royal Bank of Scotland plc 15. CASH IN HAND 2024 2023 Theatre float 230 50 280 130 50 16. CREDITORS . Amoullts filling due wfthln oDe year 2024 2023 Other creditors and a¢¢nlS VAT 2.588 3,621 17 Page 12
ROYALTY THEATRE SUNDERLAND NOTES FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 17. FUNDS Blfwd @ 01.04.23 Balance @ 31.03.24 Income Expendlturt Transfers Unrestrlcted Funds Designated Capital account 189,141 (10.983) 28,302 206.460 General fund 981 Total Unr¢strict¢d Funds Restricted Funds Refurbisllment fund Total Funds 70 FUNDS _prior year Blfwd @ 01.0422 BAlxllce Income Expendltsre Trxnsfers @ 31.03.23 Unrestricted Funds D¢sipted Capitsl account 184.532 (10.485) 15.094 189,141 General fund 78 Total Unrestricted Funds 244 Restricted Funds Refurbishment fimd Total Funds The capital account repre8¢nts the net book value of tgible fixed assets held at the balan¢¢ shcct datc. Transfers repreSt the movement in L8sets during the year. The r¢stii¢t¢d refib1$hmettt fimd represents donations and grants received fr{ll fLllKIrg undertaken specifically for refibIShrnet plans. 18. A'ALYSIs OF NET ASSETS BETWEEN FUNDS Re%trlct¢d Unre5trlcted General De8ign4ted Total Fixed assets Net current assets 206,460 206,460 102.179 37,666 64,513 Page 13
ROYALTY THEATRE SUNDERLAND NOTES FORMING PART OF THE Accouwrs FOR THE YEAR ENDED 31 MARCH 2024 18. ANALYSIS OF NET ASSETS BETWEEN FUNDS {contillued) ANALYSIS OF NET ASSETS BETWEEN FUNDS- prior year Restrlcted Unrestricted Gentral Designated Totsl Fixed assets Net current assets 189,141 189,141 115,691 59,987 55,704 55 Pog¢ 14
ROYALTY THEATRE SUNDERLAIYD BAR PROFIT AND U)SS ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 SALES 18.988 17,988 DEDUCT: COST OF SALES Siock at l Aprit 2023 Add: Purchases 986 608 11260 12.124 Less: Stock at 31 March 2024 947 986 GROSS PROFIT {45.5•/ 8,675 (38.10/0) 6,850 DEDUCT: EXPENSES Thmblers Wastage Cleaning & Stationery 155 128 513 796 591 7,879 6.259 DEDUCT: DEPRECIATION FixtUT¢S and fitting$ 208 208 NET PROFIT Page 15