## ## ## |||||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| ## ## ## ## ## ## ## ## ## ## ## ## ## ## |5.|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|| ## |14.|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| ## ## ##