2023-03-31-accounts - The Royal National Theatre Foundation

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YEAR ENDED 31 MARCH	2023
			Unrestricted	Designated	Restricted		Total
			f.		5		2
Income 8 Endowments from:		Notes
Donations &legacies		4	3,625	58,793	189,519		251,937
Investments		5	72,103	18,462	37,852		128,417
TOTAL Incame &Endowments			75728	77255	227 371		380354
Expenditure on:
Investraent Management	Costs		22,035	5,643	11,569		39,250
Charitable activities			149,523	79,596	564,813		793,932
TOTAL Expenditure			171,581	85,239	576,382		833,182
Net lasses on investment			(223,221)	(57,154)	(117,184)	(397,559)
Net expenditure			319054	65138	466195		650387
Transfers between funds
Net movement in funds			319054	85138	466195		850387
Reconciliation ofFunds:
Total funds brought forward		11	3,067,250	1,595,029	2,414,749	7,077,028
TOTAL Funds carried forward			2,748,196	1,529,891	1,948,554	6,226,641
YEAR ENDED 31 MARCH	2022
			Unrestricted f	Designated 8	Restricted 5		Total
Income 8 Endowments from:		Notes
Donations &legacies		4	90	87,500	1,033,403	1,120,993
Investments		5	95,509	16,209	62,014		173,732
TOTAL Income &Endawmeras			95,599	103,709	1,095,417	1,294,725
Expenditure on:
Investment Management	Costs		28,658	4,864	18,608		52,130
Charitable activities			79,108	22,179	37,941		139,226
TOTAL Expenditure			107765	27043	55549		191358
Net gains/(lasses) on investment			204,428	34,694	132,734		S71,856
Net income/(expenditure)			192,261	111,350	1 171,602	1	7522S
Transfers between funds
Net movement In funds			192261	111360	1 171602	1	475223
Reconciliation ofFunds:
Total funds brought forward		11	2,874,989	1,483,669	1,243,147	5,801,805
TOTAL Funds carried forward			3,067,250	1,595,029	2,414,749	7,077,028

				2023	2022
Fixed Assets:			Note
Investments TOTAL Fixed Assets				6,284,500 8,887,375 6286, 3 ~
Current assets:
Debtors				21,329	224,548
Accrued Income				3,944	8,680
Cash at bank and	in hand			168,565	12740
TOTAL Current Assets				63.838	5968
Liabilities:
Creditors: amounts	falling	due within one year	10	(251,697)	(36,315)
Net Current Assets				251,697	20
TOTAL Assets less	Current	Liabilities			7677028
TOTAL Net Assets					7677028
The Funds ofthe Charity:
Unrestricted funds				2,748,196	3,087,250
Designated funds				1,529,891	1,595,029
Restricted funds				1,948,554	2,414,749
TOTAL Funds				6,226,641	7,077,028

TATEMENT OF CASH r the year ended 31 March 2023	F	L	OW	S
							2023		2022
						Note	6		6
Cash flows from operating activities: Net cash (used in) provided by operating	activities							~2979953
Cash flows from investing activities:
Dividends, interest and rents from investments							125,267		173,025
Proceeds from sale of investment							1,737,273		4,162237
Purchase of investments							(1,674,695)		(1,609,410)
Net cash provided by investing activities							187,845		2,525,853
Change in cash and cash equivalents in the		reporting		period
Cash and cash equivalents at the beginning		of	the reporting		period	(ii)	280,510		674,611
Cash and cash equivalents at the end ofthe		mporting		period			313,598		280510
							2023		2022
(i) Reconciliation of net income/(expenditure)			to net cash				6		6
flow from operating activities:
Net (expenditure)/income for the reporting Statement of Financial Activities)			period	(as	per the		(850,387)		1,475,223
Dividends, interest and rents from investments							(125,267)		(173,025)
Losses/(Gains) on investments							397,559		(371,856)
Working capital movements:
(Increase)/decrease m debtom							207,955		(181,593)
Increase/(decrease) in creditors Net cash (used in) provided by operating	activities						215,383 ~5757	~,	(3,668,703) 3979953
(il) Analysis ofcash and cash equivalents
Cash at bank and in hand							166,565		12,740
Cash held as part ofinvestment portfolio							145,031		267,770
TOTAL cash and cash equivalents							3 3589		895 9

4	DONATIONS I5 LEGACIES
		Unrestricted E	Designated E	Restricted	2023f
	Donations	3,625		10,000	13,625
	Legacies		58,793	179,519	238,312
		3,625	58,793	189,519	251,937
		Unrestricted	Designated	Restricted	2022
	Donations	90			90
	Legacies		87,500	1,033,403	1,120,903
		90	87,500	1,033,403	1,120,993
5	INVESTMENTINCOME
		Unrestricted	Designated	Restricted	2023
			5
	Income from securities	39,813	10,194	20,901	70,908
	Interest receivable	32,290	8,268	16,951	57,509
		72,103	18,462	37,852	128,417
		Unrestricted	Designated	Restdcted	2022
				E	5
	income from securities	62,080	10,536	40,308	112,924
	interest receivable	33,040	5,607	21,454	60,101
	Tax receivable	389	66	252	707
		95,509	16,209	62,014	173,732

			Unrestrictedf	Designatedf	Restrictedf	2023f
Investment	Management	Costs	22,038	5,643	11,569	39,250
			22,038	5,643	11,569	39,250
			Unrestnctedf	Designated	Restricted	2022
Investment	Management	Costs	28,658	4,864	18,608	52,130
			28,658	4,864	18,608	52,130

Analysis ofex	pen	diture on charitable	activities
			Grant funding of	Support costs	2023
			activities
			F
Grants to National		Theatre	592,954	27,246	620,200
Grants to Other	Institutions		50,000	2,297	52,297
Benevolent Grants			76,100	3,497	79,597
Awards			40,000	1,838	41,838
			759054	34,878	793,932
			Grant funding of	Support costs	2022
			activitiesf
Grants to National		Theatre	62,550	16,558	79,108
Grants to Other	institutions
Benevolent Grants			17,158	4,542	21,700
Apprenticeship	Support		379	100	479
Awards			30,000	7,941	37,941
			110,087	29,141	139,228

(b) Analysis ofSupport Costs
	National	Other	Benevolent	Apprentice	Awards	2023
	Theatre	Institutions	Grants	Support
	5	5		8
Governance	12,243	1,032	1,571		826	15,672
NT Management
Charge	14,061	1,186	1,805		948	18,000
Finance	919	77	118			1,176
Other	23					30
	27248	2,297	3,497		1,838	34,878
	National	Other	Benevolent	Appn:ntice	Awanfs	2022
	Theatref	Institutions	Grants	Support
Governance	5,564		1,526	34	2,669	9,793
NTManagement	10,228		2,806	61	4,905	18,000
Charge
Finance	766		210		367	1,348
	16,558		4,542	100	7,941	29,141

					Grants	to		Grants to	Support	2022
					institutions		individuals		costs
	National Theatre
	National Theatre Welfare Grant				50,000				13,236	63,236
	National Theatre	Voice Research		Project	12,550				3,322	15,872
	Awards				30,000				7,941	37,941
	Other
	Benevolent Grants							17,158	4,542	21,700
	Apprenticeship	Support						379	100	479
					92,550			17,537	29,141	139,228
8	INVESTMENTS
	(a) Movement in fixed asset investments
									2023f	2022f
	Market Value at
	Beginning ofYear							6,867,375		9,235,442
	New Money Invested								450,824	932,906
	Reinvested Income								129,983	180,867
	Amounts extracted							(726,000)		(3,798,000)
	Investment management		fees paid	in year					(40,123)	(55,696)
	Increase in value	of investments						(397,559)		371,856
	Market Value at	End ofYear						6	284500	6,867,375
	At the 31 March	2023, all	funds were held with		Rathbone	Investment		Management	Ltd.
	(b) Investments	at Market Value		comprised:
									2023	2022
	Fixed Interest							1,577,614		1,551,304
	Equities							4,284,605		4,763,911
	Property								130,892	160,421
	Commodities								146,358	123,969
	Cash								145,031	267,770
	Market Value at	End ofYear						6	284500	6,867,375

9 DEBTORS
			2023	2022
			E'
Trade debtors			21,329	223,841
Accrued Income			3,944	8,680
Other debtors				707
			25,273	233,228
10 CREDITORS: AMOUNTS		FALLING DUE WITHIN ONE YEAR
(a) Creditors: amounts		falling due within one year
			2023	2022
Accruals for grants payable			185,504	12,550
Trade creditors			36,915	5,280
Accruals and deferred	income		29,278	17,105
Other Creditors				1,380
			251,897	39,315

(b) Grant commit	ments
	Brought	forward	Paid in year	Committed in	Carried forward
				year
				E
Awards		12,550	(586,100)	759,054	185,504
		12,550	(586,100)	759,054	185,504

11 ANALYSIS OF FUNDS
YEAR ENDED 31 MARCH 2023
	Fund	Income	Expenditure	Transfers	Gains and	Fund
	balances				losses	balances
	brought					carried
	forward					forward
Unrestricted Funds:
General Fund	3,067,250	75,728	(171,561)		(223,221)	2,748,196
Designated Funds:
Benevolent Fund	1,000,000		(79,596)	79,596		1,000,000
Foundation General
Purposes Fund	595,029	77,255	(5,643)	(79,596)	(57,154)	529,891
Restricted Funds:
Restricted Income
NT Learning	609,441	8,164	(2,495)		(25,276)	589,834
NT Studio/New Work	10,025	182	(55)		(562)	9,590
NT General Purpose	1,795,283	219,025	(573,832)		(91,346)	1,349,130
Total Funds	7077028	380354	833182		39'7559	6226 641
YEAR ENDED 31 MARCH 2022
	Fund	income	Expenditure	Transfers	Gains and	Fund
	balances				losses	balances
	bmught					carried
	forward					forward
Unrestricted Funds:
General Fund	2,874,989	95,599	(107,766)		204,428	3,067,250
Designated Funds:
Benevolent Fund	1,000,000		(22,179)	22,179		1,000,000
Foundation General	483,669	103,709	(4,864)	(22,179)	34,694	595,029
Purposes Fund
Restricted Funds:
Restricted Income
NT Learning	535,274	26,112	(7,835)		55,890	609,441
NT Studio/New Work	9,545	169	(51)		362	10,025
NT General Purpose	698,328	1,069,136	(48,663)		76,482	1,795,283
Total Funds	5,601,805	1,294,725	(191,358)		371,856	7,077,028

YEAR ENDED	31 MARCH 2023	31 MARCH 2023
			Unrestricted	Designated	Restricted	Total
			Funds	Funds	Funds	Funds
Investments		Asset	3,815,200	973,851	1,495,449	6,284,500
Current	Assets		(926,494)	563,512	556,820	193,838
Current	Liabilities		(140,510)	(7,472)	(103,715)	(251,697)
			2,748,196	1,529,891	1,948,554	6,226,641
YEAR ENDED 31 MARCH		2022	Unrestricted	Designated	Restricted	Total
			Funds	Funds	Funds	Funds
					Z
Investments	Assets		3,776,022	1,018,086	2073,267	6,867,375
Cunenl Assets			(691,484)	589,493	347,959	245,968
Current Liabilities			(17,288)	(12,550)	(6,477)	(36,315)
			3,057,250	1,595,029	2,414,749	7,077,028