| Page | ||
|---|---|---|
| Reference and Administrative details |
||
| Report ofthe | Trustees | 2 to 9 |
| Report ofthe | Independent Auditors |
10to 12 |
| Consolidated | Statement ofFinancial Activities | 13 |
| Consolidated | Balance Sheet | 14 |
| Charity Balance Sheet | 15 | |
| Consolidated | Cash Flow Statement | 16 |
| Notes to the | Financial Statements | 17-35 |
| Unrestricted | Unrestricted | |||||||
|---|---|---|---|---|---|---|---|---|
| funds- | funds- | Restricted | 2023 | 2022 | ||||
| General E |
Designated f |
funds 6 |
Total funds E |
Total funds f |
||||
| Notes | ||||||||
| INCOME | ||||||||
| Donations and legacies |
18,324 | 18,324 | 28,403 | |||||
| Charitable activities |
||||||||
| Operation oftheatre Grants received |
1,150,345 869,069 |
4,314 | 1,150,345 873,383 |
879,125 1,273,405 |
||||
| Other trading activities |
3 | 139,533 | 139,533 | 68,055 | ||||
| Total income | 2,177,271 | 4,314 | 2,181,585 | 2,248,988 | ||||
| EXPENDITURE | ||||||||
| Raising funds | 6,666 | 6,666 | 32,242 | |||||
| Charitable activities |
||||||||
| Operation oftheatre |
2,055,395 | 31,974 | 162,700 | 2,250,069 | 2,276,660 | |||
| Total expenditure | 2,062,061 | 31,974 | 162,700 | 2,256,735 | 2,308,902 | |||
| Net income/(expenditure) | 115,210 | (31,974) | (158,386) | (75,150) | (59,914) | |||
| Transfers between funds |
~13,000i | 13,000 | ||||||
| Net movement in |
||||||||
| funds | 102,210 | (18,974) | (158,386) | (75,150) | (59,914) | |||
| RECONCILIATION | OF | |||||||
| FUNDS | ||||||||
| Total funds brought forward |
795,548 | 443,924 | 13,370,965 | 14,610,437 | 14,670,351 | |||
| TOTAL FUNDS | ||||||||
| CARRIED FORWARD | 897,758 | 424,950 | 13,212,579 | 14,535,287 | 14,610,437 |
| At 31st March 2 | 023 | ||||||
|---|---|---|---|---|---|---|---|
| Group | |||||||
| 2023 | 2022 | ||||||
| Unrestricted | Restricted | Total | Total | ||||
| Notes | funds E |
funds | funds 6 |
funds f |
|||
| FIXEDASSETS | |||||||
| Tangible assets | 11 | 202,995 | 13,145,256 | 13,348,251 | 13,489,704 | ||
| CURRENT ASSETS | |||||||
| Debtors | 13 | 358,282 | 358,282 | 250,361 | |||
| Cash at bank and | in | hand | 1,156,607 | 67,323 | 1,223,930 | 1,434,667 | |
| 1,514,889 | 67,323 | 1,582,212 | 1,685,028 | ||||
| CREDITORS | |||||||
| Amounts falling due |
within one year | 14 | (332,402) | (332,402) | (493,447) | ||
| NET CURRENT ASSETS | 1,182,487 | 67,323 | 1,249,810 | 1,191,581 | |||
| TOTAL ASSETS | LESSCURRENT | ||||||
| LIABILITIES | 1,385,482 | 13,212,579 | 14,598,061 | 14,681,285 | |||
| CREDITORS | |||||||
| Amounts falling due |
after more than one | 15 | |||||
| year | (62,774) | (62,774) | (70,848) | ||||
| NET ASSETS | 1,322,708 | 13,212,579 | 14,535,287 | 14,610,437 | |||
| FUNDS | 18 | ||||||
| Unrestricted general |
funds | 897,758 | 795,548 | ||||
| Designated funds |
424,950 | 443,924 | |||||
| Unrestricted funds |
1,322,708 | 1,239,472 | |||||
| Restricted funds | 13,212,579 | 13,370,965 | |||||
| TOTAL FUNDS | 14,535,287 | 14,610,437 |
| At 31st March 20 | 23 | ||||||
|---|---|---|---|---|---|---|---|
| Charity | |||||||
| 2023 | 2022 | ||||||
| Unrestricted | Restricted | Total | Total | ||||
| funds | funds | funds | funds | ||||
| Notes | E | E | F | F | |||
| FIXEDASSETS Tangible assets Investments |
11 12 |
181,765 210 |
3,935 | 185,700 210 |
201,437 210 |
||
| 181,975 | 3,935 | 185,910 | 201,647 | ||||
| CURRENT ASSETS | |||||||
| Debtors Cash at bank and |
in | hand | 13 | 389,125 905,422 |
67,322 | 389,125 972,744 |
266,621 1,225,387 |
| 1,294,547 | 67,322 | 1,361,869 | 1,492,008 | ||||
| CREDITORS Amounts falling due within one year |
14 | (326,010) | (326,010) | (488,578) | |||
| NET CURRENT ASSETS | 968,537 | 67,322 | 1,035,859 | 1,003,430 | |||
| NET ASSETS | 1,150,512 | 71,257 | 1,221,769 | 1,205,077 | |||
| FUNDS Unrestricted general Designated funds |
funds | 725,562 424,950 |
654,148 443,924 |
||||
| Unrestricted funds |
1,150,512 | 1,098,072 | |||||
| Restricted funds |
71,257 | 107,005 | |||||
| TOTALFUNDS | 1,221,769 | 1,205,077 |
| 2023 | 2022 | |||||
|---|---|---|---|---|---|---|
| Notes | 8 | |||||
| Cash flows from operating Cash used in operations |
activities: | 23 | ~201,767) | ~2,955) | ||
| Net cash consumed by operating |
activities | ~201,767) | ~2,955) | |||
| Cash flows from financing Loan repayments in year |
activities: | ~8,970) | ~9,506) | |||
| Net cash used in financing | activities | ~8,970) | ~9,506) | |||
| Change in cash and cash |
equivalents | in the | ||||
| reporting period |
(210,737) | (12,461) | ||||
| Cash and cash equivalents | at the | beginning | ||||
| ofthe reporting period |
1,434,667 | 1,447,128 | ||||
| Cash and cash equivalents | at the | end | ofthe | |||
| reporting period |
1,223,930 | 1,434,667 |
| SUPPORTCOSTS -continu | ed | |||
|---|---|---|---|---|
| 2023 | 2022 | |||
| Operation of | Operation of |
|||
| theatre | theatre | |||
| 6 | 6 | |||
| Administration and operations salaries Administration Communications and Box Office Buildings and premises Depreciation, impairment and loss on disposal VAT recoverable Theatre tax relief Governance costs |
719,191 136,058 197,013 256,550 141,453 (47,029) (229,658) 23,120 |
645,387 163,569 218,178 244,573 147,746 (41,893) (133,460) 24,116 |
||
| 1,196,698 | 1,268,216 | |||
| Governance costs, included |
in | support costs, are as follows: | 2023 | 2022 |
| Operation of | Operation of |
|||
| Governance costs | theatre | theatre | ||
| E | ||||
| Trustees' expenses Auditors' remuneration Legal and professional fees |
604 13,446 9,070 |
25 15,414 8,677 |
||
| 23,120 | 24,116 | |||
| NET INCONIE/(EXPENDITURE) | ||||
| Net income/(expenditure) is |
stated after charging: | 2023 | 2022 | |
| 6 | ||||
| Operating leases - equipment Operating leases - building Auditors' remuneration Depreciation, impairment and |
loss on disposal | 13,084 15,000 13,446 141,453 |
12,990 15,000 15,414 147,746 |
| STAFF COSTS | |||||
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| E | |||||
| Wages and salaries | 835,706 | 806,993 | |||
| Social security costs | 69,673 | 61,909 | |||
| Other pension costs | 16,624 | 15,494 | |||
| 922,003 | 884,396 | ||||
| The average monthly |
number ofemployees | during the year was as follows: | |||
| 2023 | 2022 | ||||
| Average number |
56 | 53 | |||
| No employee received |
emoluments | of more | than 560,000 in the year (2022: | No employee). |
| Unrestricted | Unrestricted | ||||
|---|---|---|---|---|---|
| funds- | funds- | Restricted | Total | ||
| General | Designated | funds | funds | ||
| E | 6 | ||||
| INCOME | |||||
| Donations and legacies |
28,403 | 28,403 | |||
| Charitable activities |
|||||
| Operation oftheatre |
879,125 | 879,125 | |||
| Grants received | 1,258,033 | 15,372 | 1,273,405 | ||
| Other trading activities |
68,055 | 68,055 | |||
| Total income | 2,233,616 | 15,372 | 2,248,988 | ||
| EXPENDITURE | |||||
| Raising funds Charitable activities |
32,242 | 32,242 | |||
| Operation oftheatre |
2,057,099 | 89,581 | 129980 | 2276 660 | |
| Total expenditure | 2,089,341 | 89,581 | 129,980 | 2,308,902 | |
| Net income/(expenditure) | 144,275 | (89,581) | (114,608) | (59,914) | |
| Transfers between | funds | ~46,647) | 46,647 | ||
| Net movement in funds |
97,628 | (42,934) | (114,608) | (59,914) | |
| RECONCILIATION | OF FUNDS | ||||
| Total funds brought | forward | 697,920 | 486,858 | 13,485,573 | 14,670,351 |
| TOTAL FUNDS CARRIED | |||||
| FORWARD | 795,548 | 443,924 | 13,370,965 | 14,610,437 |
| TANGIBLE FIXEDASSETS | |||||
|---|---|---|---|---|---|
| Fixtures | |||||
| Long leasehold |
Freehold land and |
Improve- ments to |
fittings and |
||
| GROUP | property 6 |
buildings f |
property f |
equipment E |
Total f |
| COST At 1st April 2022 and 31" March 2023 |
14,814,006 | 311,174 | 28,074 | 1,294,414 | 16,447,668 |
| DEPRECIATION At 1st April 2022 Charge for year |
1,550,046 122,638 |
132,554 5,345 |
11,557 2,000 |
1,263,807 11,470 |
2,957,964 141,453 |
| At 31st March 2023 | 1,672,684 | 137,899 | 13,557 | 1,275,277 | 3,009,417 |
| NET BOOK VALUE At 31stMarch 2023 |
13,141,322 | 173,275 | 14,517 | 19,137 | 13,348,251 |
| At 31st March 2022 | 13,263,960 | 178,620 | 16,517 | 30,607 | 13,489,704 |
| Fixtures, | |||||
| Freehold | Improve- | fittings | |||
| CHARITY | land and | ments to | and | ||
| buildings f |
property E |
equipment E |
Total 8 |
||
| COST | |||||
| At 1st April 2022 and 31" March 2023 |
311,174 | 10,082 | 751,005 | 1,072,261 | |
| DEPRECIATION | |||||
| At 1st April 2022 Charge for year |
132,554 5,345 |
2,410 201 |
735,860 10,191 |
870,824 15,737 |
|
| At 31st March 2023 | 137,899 | 2,611 | 746,051 | 886,561 | |
| NET BOOK VALUE At 31st March 2023 |
173,275 | 7,471 | 4,954 | 185,700 | |
| At 31stMarch 2022 | 178,620 | 7,672 | 15,145 | 201,437 |
| FIXEDASSET INVESTMENTS | |
|---|---|
| Shares in | |
| gl'oup | |
| CHARITY | undertakings |
| E | |
| MARKET VALUE | |
| At 1stApril 2022 and 31st March 2023 | 210 |
| NET BOOK VALUE | |
| At 31st March 2023 | 210 |
| At 31st March 2022 | 210 |
| 0/ | |
|---|---|
| Class of share: | holding |
| Ordinary | 100 |
| 0/ | |
|---|---|
| Class ofshare: | holding |
| Ordinary | 100 |
| 0/ | |
|---|---|
| Class ofshare: | holding |
| Ordinary | 100 |
| 13. | DEBTORS:AMOUNTS FALLING D |
UE W | ITHIN ONE Y | EAR | ||
|---|---|---|---|---|---|---|
| Group | Charity | |||||
| 2023 | 2022 | 2023 | 2022 | |||
| E | 6 | 6 | 6 | |||
| Trade debtors Amounts owed by group undertakings Other debtors Prepayments and accrued income |
18,392 230,050 109,840 |
13,396 138,779 98,186 |
13,435 268,605 269 106,816 |
10,193 160,507 677 95,244 |
||
| 358,282 | 250,361 | 389,125 | 266,621 | |||
| 14. | CREDITORS: AMOUNTS FALLING |
DUE | WITHIN ONE | YEAR | ||
| Group | Charity | |||||
| 2023 E |
2022 6 |
2023 6 |
2022 f |
|||
| Loans (see note 16) Trade creditors Amounts owed to group undertakings Social security and other taxes Other creditors Accruals and deferred income (see |
below) | 8,729 97,790 23,735 4,085 198,063 |
9,625 235,977 16,143 23,998 207,704 |
96,787 11,266 22,443 4,085 191,429 |
234,101 13,695 15,244 23,998 201,540 |
|
| 332,402 | 493,447 | 326,010 | 488,578 | |||
| Group | Charity | |||||
| Deferred Income | 2023 | 2022 | 2023 | 2022 | ||
| E | F | E | ||||
| Deferred income at 1st April 2022 Resources deferred in the year Amounts released from previous year |
136,239 133,564 ~136,239) |
281,871 136,239 ~281,871) |
136,239 281,871 133,564 136,239 ~136,239)~281,871) |
|||
| Deferred income at 31st March 2023 | 133,564 | 136,239 | 133,564 | 136,239 | ||
| Deferred income comprises the following: |
2023 | 2022 | ||||
| 6 | ||||||
| Creative learning and other income Boxoffice receipts in advance |
in advance | 4,656 128,908 |
12,957 123,282 |
|||
| 133,564 | 136,239 |
| Group | Charity | ||||
|---|---|---|---|---|---|
| 2023 | 2022 | 2023 | 2022 | ||
| F | E | f | |||
| Loans (see note 16) | 62,774 | 70,848 | |||
| 16. | LOANS | ||||
| Borrowings | 2023 | Group 2022 |
2023 | Charity 2022 |
|
| Due within one year | E | ||||
| Hull City Council Loan | 8,729 | 9,625 | |||
| Due over one year | |||||
| Hull City Council Loan: | |||||
| Within 1-2years Within 2-5years |
9,175 30,440 |
9,746 29,979 |
|||
| After 5years | 23,159 | 31,123 | |||
| 62,774 | 70,848 |
| Minimum lease payments under non |
-cancellable operatin |
g leases fall du |
e as follows: | |
|---|---|---|---|---|
| 2023 f |
Group 2022 f |
2023 | Charity 2022 E |
|
| Within one year Between one and five years In more than 5years |
24,017 47,776 121,672 |
23,850 60,661 132,568 |
114,017 407,776 1,126,672 |
113,850 420,661 1,227,568 |
| 193,465 | 217,079 | 1648465 | 1 762 079 |
| MOVEMENT IN FUNDS |
||||||
|---|---|---|---|---|---|---|
| Net | Transfers | |||||
| movement | Between | |||||
| At 1.4.22 f |
in funds f |
funds f |
At 31.3.23 F |
|||
| Unrestricted funds |
||||||
| General fund |
(a) | 795,548 | 115,210 | ~13,000 | 897,758 | |
| Designated funds: Repairs and renewals Production and artistic costs Staffing and inclusion costs Capital projects and foyer Digital innovation Resilience reserve |
45,419 200,000 40,977 33,563 29,478 66,987 |
(4,287) (1,250) (937) |
41,132 200,000 39,727 33,563 28,541 66,987 |
|||
| Production equipment PR Agency Borehole |
2,000 5,500 20,000 |
(5,500) ~20,D00 |
13,000 | 15,000 | ||
| Total designated funds |
101 | 443,924 | ~31,974 | 13,00D | 424,90D | |
| Total unrestricted funds |
1,239,472 | 83,236 | 1,322,708 | |||
| Restricted funds | ||||||
| British Council R&D ACE Catalyst I AM Fund —Outreach Youth Theatre |
(c) (d) (e) |
10,003 81,630 15,372 |
(2,159) (25,903) (7,686) |
7,844 55,727 7,686 |
||
| Access to Work | (f) | |||||
| 107,005 | (35,748) | 71,257 | ||||
| Hull Truck Enterprises Limited Ferensway Theatre Development |
(g) | 13,263,960 | (122,638) | 13,141,322 | ||
| Total restricted funds |
13,370,965 | ~158,386 | 13,212,579 | |||
| TOTAL FUNDS | 14,610,437 | ~75,150 | 14,535,287 |
| Net movement in funds |
, included in the abov |
e are as follo | ws: | ||
|---|---|---|---|---|---|
| Incoming | Resources | Movement | |||
| resources F |
expended f |
in funds f |
|||
| Unrestricted funds |
|||||
| General fund |
2,177271 | ~,2,062,067) | 115,210 | ||
| Designated funds: |
|||||
| Repairs and renewals Production and artistic |
costs | (4,287) | (4,287) | ||
| Staffing and inclusion costs Capital projects and foyer |
(1,250) | (1,250) | |||
| Digital innovation Resilience reserve |
(937) | (937) | |||
| Production equipment |
|||||
| PR Agency Borehole Total designated funds |
(b) | (5,500) ~20800) ~37.974) |
(5,500) ~20,000) ~37974). |
||
| Total unrestricted funds |
2,177,271 | ~2,004,030) | 83,236 | ||
| Restricted funds | |||||
| British Council R&D ACE Catalyst I AM Fund —Outreach Access to Work |
Youth Theatre | (c) (d) (e) (f) |
4,314 | (2,159) (25,903) (7,686) ~4,374) |
(2,159) (25,903) (7,686) |
| Hull Truck Enterprises | Limited | 4,314 | (40,062) | (35,748) | |
| Ferensway Theatre Development |
(g) | ~722,630) | ~722,030) | ||
| Total restricted funds |
4,314 | ~762,700) | ~700,306) | ||
| TOTAL FUNDS | 2,101,585 | ~2,256,735) | ~75,750) |
| the results | ofth | e subsidiary is shown b |
elow: | ||
|---|---|---|---|---|---|
| Total | Total | ||||
| 2023 | 2022 | ||||
| K | E | ||||
| Turnover Cost ofsales |
724,488 ~954,146 |
795,926 ~933,994 |
|||
| Gross loss Tax on loss |
(229,658) 229,658 |
(138,068) 138,068 |
|||
| Net profit | |||||
| The aggregate | ofthe assets, liabilities | and funds was: | |||
| Assets | 229,658 | 138,068 | |||
| Liabilities | j229,658) | ~138,068 | |||
| Aggregate | called up share capital and | reserves |
| 2023 | 2022 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| E | |||||||||
| Net expenditure for |
the | reporting | period (as | per the statement | of | ||||
| financial activities) Adjustments for: |
(75,150) | (59,914) | |||||||
| Depreciation charges Increase in debtors (Decrease)/increase |
in creditors | 141,453 (107,921) ~160,149) |
147,745 (108,939) 18,153 |
||||||
| Net cash consumed | by operating | activities | (201,767) | ~2,955) | |||||
| ANALYSIS OF CHANGES | IN NET | FUNDS | |||||||
| Cashflow | Other non- | ||||||||
| cash | |||||||||
| At 1.4.22 | changes | At 31.3.23 | |||||||
| Net cash | 6 | E | 6 | E | |||||
| Cash at bank and in hand |
1,434,667 | ~216,737 | 1,223,930 | ||||||
| Debt | |||||||||
| Loans falling due within Loans falling due after |
1 year 1 year |
(9,625) ~76,8481 |
8,970 | (8,074) 8,674 |
(8,729) ~62,774 |
||||
| ~BD4737 | 8,676. | 71,503 | |||||||
| 1,354,194 | ~201,767 | 1,152,427 |
| Detailed Consolidated Statement ofFinancial Activities for the year ended 31st March 2023 |
||
|---|---|---|
| 2023 | 2022 | |
| E | E | |
| INCOME | ||
| Donations and legacies Donations |
18,324 | 28,403 |
| Other trading activities Theatre and Beverley Road rental income Merchandise &programme sales Other income Corporate sponsorship Events and catering income Third party ticketing income |
34,300 8,994 24,352 5,950 58,976 6,961 |
10,440 6,544 8,991 10,329 26,781 4,970 |
| 139,533 | 68,055 | |
| Charitable activities Admission fees - Own productions Admission fees —Incoming productions Creative learning programme Artist Development programme Co-production income Sponsorship Grants |
596,199 225,591 67,073 302 2,400 258,780 873,383 |
379,511 208,190 32,644 258,780 1,273,405 |
| 2023728 | 2 152530 | |
| Total incoming resources |
2,181,585 | 2,248,988 |
| EXPENDITURE | ||
| Raising donations and legacies Sponsorship and development |
2,296 | 6,142 |
| Charitable activities Production salaries Social security Pensions Own productions Incoming productions Production overheads Artistic overheads Creative learning programme Project costs Artistic development programme ACE strategic funds Other trading activities |
179,868 14,996 3,578 572,227 170,402 23,051 12,892 42,178 6,473 9,874 17,832 |
194,275 14,904 3,730 538,575 150,462 29,916 18,939 36,285 12,872 1,440 7,046 |
| 1,053,371 | 1,008,444 |
| for the year en | ded 31st March | 2023 |
||
|---|---|---|---|---|
| 2023 | 2022 | |||
| F | ||||
| Support costs | ||||
| Raising funds | ||||
| Development salaries |
4,370 | 26,100 | ||
| Administration | and operations | salaries | ||
| Wages | 651,467 | 586,618 | ||
| Social security | 54,677 | 47,005 | ||
| Pensions | 13,047 | 11,764 | ||
| 719,191 | 645,387 | |||
| Administration | ||||
| Telephone Post and stationery |
11,616 3,503 |
11,959 2,094 |
||
| Repairs and renewals | 107 | 486 | ||
| Insurance | 21,714 | 17,618 | ||
| Travel and subsistence | 10,530 | 30,949 | ||
| Bank and other | charges | 30,879 | 22,057 | |
| Computer support |
27,598 | 39,946 | ||
| Office equipment | leasing | 13,084 | 12,990 | |
| Staff costs | 11,094 | 17,577 | ||
| Subscriptions | 5,933 | 7,893 | ||
| 136,058 | 163,569 | |||
| Communications | and BoxOffice | |||
| Travel and subsistence | 1,684 | 1,256 | ||
| Commissions | 584 | 421 | ||
| Subscription s | 8,088 | 8,858 | ||
| Print and distribution | 81,223 | 77,876 | ||
| Design and advertising | 63,020 | 82,081 | ||
| Repairs and renewals Website and photography |
398 17,366 |
1,303 28,217 |
||
| Spektrix charges | 24,650 | 18,166 | ||
| 197,013 | 218,178 | |||
| Buildings and premises | ||||
| Rent | 15,000 | 15,000 | ||
| Water and rates | 10,909 | 8,451 | ||
| Light and heat | 83,742 | 96,432 | ||
| Insurance | 1,042 | 917 | ||
| Security and fire | alarms | 6,425 | 8,529 | |
| Repairs and maintenance Service charge |
128,536 10,896 |
104,348 10,896 |
||
| 256,550 | 244,573 |
for the year ended 31 |
st March 2023 |
||
|---|---|---|---|
| 2023 | 2022 | ||
| 6 | E | ||
| Depreciation Long leasehold Freehold propertY Improvements to property Fixtures, fittings and equipment |
122,638 5,345 2,000 11,470 |
122,637 5,345 2,001 17,763 |
|
| Impairment offreehold |
property | ||
| 141,453 | 147,746 | ||
| VAT recoverable | ~47,D29) | ~41,893) | |
| Theatre tax relief | ~229,658) | ~133,460) | |
| Governance costs Trustees' expenses Auditors' remuneration |
604 13,446 |
25 15,414 |
|
| Legal and Professional | 9,070 | 8,677 | |
| 23,120 | 24,116 | ||
| Other trading activities |
|||
| Events and catering salaries | |||
| Total resources expended | 2,256,735 | 2,308,902 | |
| Net expenditure | ~75,15D) | ~59,9)4) |