## ## |||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)|