2021-03-31-accounts - The Young Vic Company

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				Page
Charity Reference and Administrative			Details
Report ofthe	Chairman
Trustees' Annual Report				3 —14
(Including Directors' Report 8 Strategic Report)
Independent	Auditor's Report			15 —16
Consolidated	Statement	of Financial	Activities	17
(Including Income and Expenditure			Account)
Consolidated	and Charity	Balance sheets		18
Consolidated	Statement	ofCash Flows
Notes to the	Consolidated	Financial	Statements	20 —28

Trustees	and directors	and directors		Glenn Earle - Chairman	Glenn Earle - Chairman
				Varun Chandra
				Nicola Dunn OBE
				Dr. Robert Easton
				Kobina Holdbrook-Smith
				Dr. Ali Hossaini Jr.
				Kwame Kwei-Armah	OBE
				Ebelechukwu Okobi
				Farah Ramzan Golant
				Abigail Sewell
				Fiona Shaw
				Dr. Sita Thomas
				Steven Tompkins
				Anna Williams
Artistic Director				Kwame Kwei-Armah	OBE
Executive	Director			Despina Tsatsas
Executive	Committee			Nicola Dunn OBE
				Glenn Earle
				Dr. Robert Easton
				Kwame Kwei-Armah	OBE
				Anna Williams
Registered	Office			66 The Cut
				London
				SE1 8LZ
Company	Registration		Number	01188209(England	and Wales)
Charity Registration		Number		268876
Bankers				Allied Irish Bank (GB)
				9/10 Angel Court
				London
				EC2R 7AB
Auditors				Azets Audit Services
				2"' Floor, Regis House
				45 King William Street
				London
				EC4R 9AN

OR THE YEAR ENDED 31 MARCH 2021
Incorporating income and expenditure	account		Unrestricted			Restricted	Total	Total
			Funds	Designated	Funds	Funds
		Notes	Operating	Operating	Capital		2021	2020
								(Note 9)
								6
Income from:
Grants and donations			4,787,959	1,106,500		276,318	6,172,777	3,305,786
Charitable activities			156,703				156,703	3,110,722
Other income			153,363				153,363	357,625
Total income		3	5,098,025	1,108,500		276,318	6,482,843	6,774,133
Expenditure on:
Raising funds			268,851				268,851	345,377
Charitable activities:
Productions and co-productions			2,621,870	4,227		23,715	2,649,812	5,611,701
Directors Program			219,007				219,007	296,409
Taking Pert			459,642				459,642	621,093
Theatre rebuild depreciation					343,393		343,393	362,424
Other expenditure			126,335				128,335	60,813
Total expenditure		4	3,697,705	4,227	343,393	23,715	4,069,040	7,297,617
Net income/(expenditure)			1,400,320	1,104,273	(343,393)	252,603	2,413,803	(523,684)
Transfers between funds
Net movement in funds			1,400,320	1,104,273	(343,393)	252,603	2,413,803	(523,664)
Reconciliation offunds:
Total funds brought forward			630	591,561	6,716,620	62,610	9,371,441	9,895,125
Total funds camed forward			61,400,950	61,695,854	68,373,227	f315,213	611,785,244	f9,371,441

					2021	2020	2021	2020
					Group	Group	Charity	Charity
				Notes				E
Fixed Assets
Tangible assets				10	8,698,934	8,990,935	8,698,934	8,990,935
Investments				11			1	1
					8,698,934	8,990,935	8,698,935	8,990,936
Current assets
Debtors				12	909,941	1,049,016	922,705	1,049,015
Cash at bank and		in	hand		3,625,026	933,771	3,581,809	895,581
					4,534,967	1,982,787	4,504,514	1,944,596
Creditors:	Amounts		falling
due within	one year			13	(1,448,657)	(1,602,281)	(1,418,030)	(1,575,450)
Net current	assets				3,086,310	380,506	3,086,484	369,146
Net assets					f11,785,244	f9,371,441	K11,785,419	K9,360,082
Charity Funds
Unrestricted	funds			14	1,400,950	630	1,401,125	(10,729)
Designated	funds	—Operating		14	1,695,854	591,581	1,695,854	591,581
Designated	funds	—Capital		14	8,373,227	8,716,620	8,373,227	8,716,620
Restricted	funds			14	315,213	62,610	315,213	62,610
					f11,785,244	K9,371,441	611,785,419	E9,360,082

Reconciliation of net income to net cash flow from	2021	2020
operating activities
Net income/(expenditure) for year	2,413,803	(523,684)
Depreciation oftangible fixed assets	343,393	362,424
Decrease in debtors	139,075	388,162
Decrease in creditors	(153,624)	(251,317)
Net cash flow from operating activities	K2,742,647	K(24,415)
Statement ofCash Flows
Net cash flow from operating activities	2,742,647	(24,415)
Cash flow from investing activities
Payments to acquire tangible fixed assets	(51,392)	(81,175)
Net increase/(decrease) in cash and cash equivalents	2,691,255	(105,590)
Cash and cash equivalents at 31 March 2020	933,771	1,039,361
Cash and cash equivalents at 31 March 2021	K3,625,026	f933,771
Cash and cash equivalents consists of:
Cash at bank and in hand	3,625,026	933,771
Cash and cash equivalents at 31 March 2021	K3,625,026	K933,771

Governance costs		Direct	Staff	Support	Total	Total
		costs f	costs f	costs f	2021 f	2020f
Professional fees				22,250	22,250	14,298
Audit and accountancy				15,125	15,125	16,250
				f37,375	f37,375	f30,548
Net income for the year					2021f	2020f
Net income is stated after charging		/ (crediting):
Depreciation oftangible	fixed assets				343,393	362,424
Auditors' remuneration					12,500	12,500
Directors' remuneration					103,000	102,000
Operating lease rentals	—Property				19,674	19,674
	—Equipment				43,148	34,144
Operating lease rental	income —Property				19,571	(97,098)

uring the year (2020:f102,000). No other truste o trustee received reimbursement for expenses	e received or waived any remuneration during the year (2020: none).	during the year,
Staff costs	2021f	2020f
Salary costs: core staff	2,232,449	2,090,855
Social security costs	186,078	203,842
Pension costs	50,287	55,009
	f2,468,814	f2,349,706

60,000 during the year ended 31 March 2021 (2	020:2) and within the following bands:
	2021	2020
f100,001-f110,000 f80,001-f90,000 f70,001-f80,000	1	1 1

	Comparatives for	the	2020		2020	2020	2020	2020
	statement offinancial		Unrestricted	Designated		Designated	Restricted	Total
	activities		Funds		Funds	Funds	Funds
			Operating	Operating		Capital
					f'.
	Income from:
	Grants and donations		3,298,516				7,270	3,305,786
	Charitable activities		3,110,722					3,110,722
	Other income		357,625					357,625
	Total income		6,766,863				7,270	6,774,133
	Expenditure on:
	Raising funds		345,377					345,377
	Charitable activities:
	Productions and co-productions		5,606,750		4,951			5,611,701
	Directors Program		296,409					296,409
	Taking Part		621,093					621,093
	Theatre rebuild depreciation					362,424		362,424
	Other expenditure		60,813					60,813
	Total expenditure		6,930,442		4,951	362,424		7,297,817
	Net income/(expenditure)		(163,579)		(4,951)	(362,424)	7,270	(523,684)
	Transfers between	funds	163,551	(163,551)
	Net movement in funds Reconciliation offunds:		(28)	(168,502)		(362,424)	7,270	(523,684)
	Total funds brought	forward	658	760,083		9,079,044	55,340	9,895,125
	Total funds carried	forward	8630	K591,581		K8,716,620	662,610	K9,371,441
10.	Tangible fixed assets					Theatre
	Group and Charity		Equipment			Rebuild	Total
				E
	Cost
	At 1 April 2020		2,679,397			11,745,381	14,424,778
	Additions			51,392			51,392
	At 31 March 2021		2,730,789			11,745,381	14,476,170
	Depreciation
	At 1 April 2020		2,296,847			3,136,996	5,433,843
	Charge for the year		108,485			234,908	343,393
	At 31 March 2021		2,405,332			3,371,904	5,777,236
	Net Book Value
	At 31 March 2021		K325,457		R8,373,477		K8,698,934
	At 31 March 2020		f382,550		K8,608,385		E8,990,935

	At 1 April 2020 and 31 Ma	At 1 April 2020 and 31 Ma	rc	h 202	1
	This investment comprises		a	100%	owned	subsidiary		undertaking, Young Vic Productions Limited which				is
	registered in England, registered				number	06238751. The principal			activity of the	company	is theatre
	production. During the year, income in this subsidiary undertaking amounted to E8,264(2020:245,437)and expenditure amounted to F19,797(2020:234,079).At 31 March 2021 its net liabilities stood at f174(2020:
	net assets f11,359).The results of				the subsidiary		undertaking are included in these consolidated				financial
	statements.
								Group		Charity
12.	Debtors: Amounts	falling due within			one year			2021	2020 E	2021		2020f
	Trade debtors							82,779	220,805	82,779		220,805
	Other debtors							27,840	13,145	27,839		13,144
	Prepayments and	accrued	income					799,322	815,066	799,322		815,066
	Amount owed by	subsidiary		undertaking						12,765
								K909,941	K1,049,016	K922,705	F1,049,015
13.	Creditors: Amounts falling		due within one			year
	Trade creditors							155,472	272,866	155,472		272,866
	Accruals							100,662	218,805	78,022		193,456
	Advance box office receipts							196,398	348,361	196,398		348,361
	Other creditors							396,468	273,722	388,481		272,240
	Deferred income							599,657	488,527	599,657		488,527
								K1,448,657	E1,602,281 K1,418,030		K1,575,450
	Deferred income
	Balance as at 1 April									488,527		486,247
	Amount released	to incoming		resources						(488,527)	(486,247)
	Amount deferred	in year								599,657		488,527
	Balance as at 31	March								K599,657	F488,527

Fund reconciliation	Fund reconciliation	Balance	at				Balance at
		1 April					31 March
Group		2020 f		Income f	Expenditure	Transfers	2021 E
Unrestricted
Operating			630	5,098,025	(3,697,705)		1,400,950
Designated:
Capital		8,716,620			(343,393)		8,373,227
Operating:	Burford Legacy			1,100,000			1,100,000
Operating:	Special Situations	582,	175				582,175
Operating:	New Commissions	9,406		8,500	(4,227)		13,679
Restricted
Commercial	Transfers	62,610		13,499		(20,000)	56,109
Staff Support				33,750	(3,715)	20,000	50,035
Artistic Fund				99,069			99,069
Genesis Covid				20,000	(20,000)
Sustainability				110,000			110,000
Totalfunds		E9,371,441		K6,482,843	E(4,069,040)		f11,785,244

Analysis o		fnet assets between funds
			Fixed Assets	Net Current	Total
				Assets
Group
Unrestricted		Funds
Operating				1,400,950	1,400,950
Designated		Funds:
Operating:	Burford Legacy			1,100,000	1,100,000
Operating:	Special Situations			582,175	582,175
Operating:	New Commissions			13,679	13.679
Capital Restricted		Funds	8,698,934	(325,707)	8,373,227
Commercial		Transfers		56,109	56,109
Staff support				50,035	50,035
Artistic Fund				99,069	99,069
Sustainability				110,000	110,000
Total			E8,698,934	F3,086,310	K11,785,244


6.	Financial commitments
(a)	Operating leases
	The total of future	minimum lease payments under		non-		Office
	cancellable operating leases for each periods are:		ofthe following			Equipment 2020
	Within one year Within one to five	years				38,510 105,629
	The charity has a	contract for the grant	ofa99year	lease with Lambeth		Borough Council, which commenced
	on 29 September	2006 for an annual	rental ofF15,000 and increases			in line with Retail Price Index inflation
	on each 10year	anniversary. The current annual		rental	is F19,674.

The	amou	nts ow	ed to the company by a	tenant under a non-cancellable	operating
				( 1 year	Total
					E
Rent	and	service	charge	37950	37950