## 

|Company|Details|||||||
|---|---|---|---|---|---|---|---|
|Registered|Name:|||Lyric Theatre<br>Hammersmith||Limited|(The)|
|Registered|Charity|No.:||278518||||
|Registered|Company||No.:|1443809||||
|Registered|Address:|||Lyric Hammersmith|Theatre|||
|||||Lyric Square||||
|||||King Street||||
|||||London W6 OQL||||
|Chief Executive 8||||||||
|Artistic Director:||||Rachel O'Riordan||||
|Executive|Director:|||Amy Belson||||
|Advisers||||||||
|Auditors:||||Saffery Champness|LLP|||
|||||71 Queen Victoria Street||||
|||||London EC4V 4BE||||
|Bankers:||||Barclays Bank||||
|||||Knightsbridge<br>Business Centre||||
|||||PO Box32014||||
|||||London<br>NW1 2ZG||||
|Solicitors:||||Harbottle<br>and Lewis||||
|||||14 Hanover Square||||
|||||London W1R OBE||||
|||||Farrer and Co LLP||||
|||||66 Lincoln's<br>Inn Fields||||
|||||London WC2A 3LH||||



## 



## 

## 

## 

## 



## 

## 



## 

## 

## 

## 

## 



## 

## 

## 

## 



## 

## 



## 

## 

## 

## 



## 

## 

## 



## 

## 

## 

## 



## 

## 



## 

## 



## 

## 

## 

## 



## 

## 

## 

## 

## 

## 



## 



## 

## 



## 

## 

## 



## 

||||General|Designated|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|
|||Note|Funds|Funds|Funds|2022|2021|
||||||||E|
|Income from:||||||||
|Donations||3(a)|115,774|||115,774|206,298|
|Charitable<br>activities||||||||
|Theatre<br>8 Young||||||||
|People's Activity||2|1,278,159|||1,278,159|118,059|
|Grants||3(b)|1,405,419||662,657|2,068,076|3,193,011|
|Other trading<br>activities||4|495,475|||495,475|118,133|
|Interest received|||2,247|||2,247|2,135|
|Total income|||3,297,074||662,657|3,959,731|3,637,636|
|Expenditure<br>on:||||||||
|Raising<br>funds||6|747,867|||747,867|478,329|
|Charitable<br>activities||7|2,388,900|544,595|1,209,878|4,143,373|2,421,496|
|Total expenditure|||3,136,767|544,595|1,209,878|4,891,240|2,899,825|
|Net income/(expenditure)||||||||
|before taxation|||160,307|(544,595)|(547,221)|(931,509)|737,811|
|Taxation||9|253,714|||253,714|6,145|
|Transfers<br>between|funds|15,16|(225,164)|225,164||||
|Net movement<br>in funds|||188,857|(319,431)|(547,221)|(677,795)|743,956|
|Reconciliation<br>of funds:||||||||
|Total funds<br>brought|forward||548,435|2,169,747|8,229,693|10,947,875|10,203,919|
|Total funds carried forward|||737,292|1,850,316|7,682,472|10,270,080|10,947,875|





## 

|||||For th|e year ended|31 March 20|22||
|---|---|---|---|---|---|---|---|---|
|||||||Group||Company|
|||||Note|2022|2021|2022|2021|
|||||||E|||
|Fixed assets:|||||||||
|Tangible<br>fixed assets||||11|7,879,435|8,317,552|7,879,435|8,317,552|
|Investments||||12|||3|3|
|Total fixed assets|||||7,879,435|8,317,552|7,879,438|8,317,555|
|Current assets:|||||||||
|Stock and work|in|progress|||224,385|66,536|211,603|61,876|
|Debtors||||13|491,027|240,977|567,658|517,663|
|Cash at bank and||in|hand||2,836,508|2,947,588|2,697,058|2,641,870|
|Total current assets|||||3,551,920|3,255,101|3,476,319|3,221,409|
|Liabilities:|||||||||
|Creditors: Amounts|||falling due||||||
|within one year||||14|(1,161,274)|(624,778)|(1,085,676)|(591,089)|
|Net current assets|||||2,390,646|2,630,323|2,390,643|2,630,320|
|Total net assets|||||10,270,081|10,947,875|10,270,081|10,947,875|
|The funds of the|charity:||||||||
|Restricted<br>funds||||15|7,682,472|8,229,693|7,682,472|8,229,693|
|Unrestricted<br>funds:|||||||||
|Designated<br>funds||||16|1,850,316|2,169,747|1,850,316|2,169,747|
|General<br>funds||||16|737,292|548,435|737,292|548,435|
|Total unrestricted||funds|||2,587,608|2,718,182|2,587,608|2,718,182|
|Total funds|||||10,270,080|10,947,875|10,270,080|10,947,875|





## 

## 

||||||2022|2022||2021|2021|
|---|---|---|---|---|---|---|---|---|---|
|||||||E||||
|Net cash provided<br>by/(used||||in)||||||
|operating<br>activities||||||(25,745)|||1,219,030|
|Cash flows from investing|||activities:|||||||
|interest<br>received|||||2,247|||2,135||
|Purchase of tangible|fixed|assets|||(87,582)|||||
|Net cash provided<br>by/(used||||in)||||||
|investment<br>activities||||||(85,335)|||2,135|
|Increase/(decrease)|in cash|||||(111,080)|||1,221,165|
|Opening<br>cash balance at||1|April|||2,947,588|||1,726,423|
|Closing cash balance|at 31|||March||2,836,508|||2,947,588|
|Reconciliation<br>of net|income/expenditure||||to net cash flow|from operating|activities|||
|||||||2022|||2021|
|Net income/(expenditure)||||||(677,795)|||743,956|
|Adjustments<br>For:||||||||||
|Depreciation<br>charges||||||525,699|||525,155|
|Interest received||||||(2,247)|||(2,135)|
|Increase<br>in stock||||||||||
|and work<br>in progress||||||(157,849)|||(22,454)|
|(Increase)/decrease|in debtors|||||(250,050)|||275,360|
|Increase/(decrease)|in creditors|||||536,497|||(300,852)|
|Net cash provided<br>by/(used||||in)||||||
|operating<br>activities||||||(25,745)|||1,219,030|



|||||||At|1 April||At 31 March|
|---|---|---|---|---|---|---|---|---|---|
||||||||2021|Cash flow|2022|
||||||||E|||
|Cash|at|bank|and|in|hand|2,947,588||(111,080)|2,836,508|
||||||||t|||
|||||||2,947,588||(111,080)|2,836,508|





## 

## 

## 

## 

## 

## 

## 

## 

## 

## 



## 

## 

|Leasehold<br>improvements|Leasehold<br>improvements||28-30years|
|---|---|---|---|
|Reuben<br>Foundation|Wing improvements||20 years|
|Auditorium,<br>Studio|and|FOH improvements|15-20years|
|Roof Garden|||12years|
|Fixtures and fittings|||5-8years|
|Technical and computer||equipment|3-8years|



## 

## 



## 

## 

## 

## 

## 

## 

## 



## 

|2.|Income from charitable<br>activities|Income from charitable<br>activities|Income from charitable<br>activities||||||
|---|---|---|---|---|---|---|---|---|
||||||||2022|2021|
||||||||E|B|
||Ticket sales||||||937,675|16,512|
||Touring<br>income|||||||21,500|
||Co-production<br>income||||||145,508|17,144|
||Royalties<br>income|||||||6,589|
||Front of House sales||||||42,747|(20)|
||Income from partners||||||59,923|29,173|
||Young People's<br>income||||||29,660|20,146|
||Other income||||||62,646|7,015|
||||||||1,278,159|118,059|
|3.|(a) Income from donations||||||||
||||||||2022|2021|
||||||||E|E|
||Total income from donations||||||115,774|206,298|
||No income from donations|was restricted (2021:none).|||||||
||(b) Income from charitable|activities:|||grants||||
||||||||2022|2021|
||Public funding:||||||||
||Core funding:||||||||
||Arts Council<br>England —National|||Portfolio Organisation||funding|1,120,240|1,120,240|
||London Borough of Hammersmith||||&Fulham—||||
||3'~ Sector Investment|Funding|||||230,000|230,000|
||Coronavi rus-related<br>funding:||||||||
||Culture<br>Recovery Fund|(restricted)|||||188,680|377,361|
||Coronavirus<br>Job Retention||Scheme (restricted)||||98,513|820,840|
||Restart Grant||||||18,000||
||Additional<br>Restrictions<br>Grant||||||20,000||
||Omicron<br>Hospitality<br>and|Leisure||Grant|||6,000||
||Local Restrictions<br>Support||Grants||||1,179|15,524|
||Closed Business<br>Lockdown||Payment|||||9,000|
||Project funding:||||||||
||Arts Council<br>England —National|||Lottery Project Grant|||49,000||
||British Council —Cultural|Exchange|||Programme||29,890||
||Department<br>for Work and||Pensions||—Kickstart Scheme||29,840||
||Trusts &Foundations||||||||
||Restricted grants:||||||||
||Young People's<br>Programme||activities||||257,434|286,056|
||Theatre productions<br>activities||||||9,300|193,990|
||Unrestricted<br>grants||||||10,000|140,000|
||Total income from charitable||activities: grants||||2,068,076|3,193,011|





## 

|4.|Income from other trading|Income from other trading|Income from other trading|activities|activities|||
|---|---|---|---|---|---|---|---|
|||||||2022|2021|
||Fundraising|events||||29,135|3,752|
||Corporate|fundraising||||65,663|38,057|
||Commercial|trading|operations||(note 5)|400,677|76,324|
|||||||495,475|118,133|



||||2022|2021|
|---|---|---|---|---|
|Turnover|||400,677|76,324|
|Other operating|income|||88,661|
|Interest received|||74|60|
|Cost ofsales|||(69,938)|(8,371)|
|Administration|expenses||(185,961)|(103,109)|
|Management<br>fees|||(144,852)|(53,565)|
|Net profit|||||
|Amount<br>gifted|to charity||||
|Profit retained|in the subsidiary||||
|The assets and|liabilities ofthe subsidiary|at 31 March 2022 were:|||
|Current assets|||187,468|347,205|
|Creditors: amounts<br>falling due within one||year|(187,466)|(347,203)|
|Tota I net assets|||||
|Profit and loss|account||||
|Aggregate<br>share capital and reserves|||||
|Total funds|||||





## 

||Summary<br>profit|and loss|and loss|and loss|account:|||||
|---|---|---|---|---|---|---|---|---|---|
|||||||||2022|2021|
|||||||||E||
||Turnover|||||||1,338,563|32,327|
||Cost of sales|||||||(1,592,277)|(38,472)|
||Net profit/(loss)|||||||(253,714)|(6,145)|
||Taxation|||||||253,714|6,145|
||Profit retained|in the subsidiary||||||||
||The assets and|liabilities|||ofthe subsidiary||at 31 March 2022 were:|||
||Current assets|||||||259,859|6,145|
||Creditors: amounts||falling due within|||one|year|(259,858)|(6,144)|
||Total net assets|||||||||
||Profit and loss account|||||||||
||Aggregate<br>share capital||||and reserves|||||
||Total funds|||||||||
|6.|Expenditure<br>on|activities|||for raising funds|||||
|||||||||2022|2021|
||Trading<br>companies||staff||costs|||136,788|93,844|
||Trading<br>companies||other||costs|||115,561|16,531|
||Fundraising<br>staff costs|||||||209,687|162,629|
||Other direct fundraising|||costs||||35,747|3,554|
||Support costs (note||8)|||||250,084|201,771|
|||||||||747,867|478,329|
|7.|Charitable<br>activities|||||||||
||||||||Activities|||
||||||||undertaken|Support|Total|
||||||||directly|costs|2022|
||||||||E||E|
||Theatre productions||||||2,417,853|1,214,723|3,632,576|
||Young People's|programme|||||339,988|170,809|510,797|
||||||||2,757,841|1,385,532|4,143,373|





## 

||||||Total|
|---|---|---|---|---|---|
||||||2021|
||Theatre productions||1,166,207|850,833|2,017,040|
||Young People's programme||233,847|170,609|404,456|
||||1,400,054|1,021,442|2,421,496|
|8.|Support costs|||||
|||||Cost of||
||||Charitable|raising|Total|
||||activities|funds|2022|
|||||E|E|
||Staff costs||216,513|39,080|255,593|
||Building costs||379,388|68,478|447,866|
||Administration|costs|259,747|46,884|306,631|
||Depreciation||445,321|80,379|525,700|
||Irrecoverable|VAT on overheads|59,721|10,779|70,500|
||Governance costs:|||||
||Audit fees||21,741|3,924|25,665|
||Legal fees||3,101|560|3,661|
||||1,385,532|250,084|1,635,616|
||||||Total|
||||||2021|
||||||E|
||Staff costs||187,784|37,094|224,878|
||Building costs||164,663|32,527|197,190|
||Administration|costs|205,990|40,690|246,680|
||Depreciation||438,530|86,625|525,155|
||Irrecoverable|VAT on overheads|8,636|1,706|10,342|
||Governance costs:|||||
||Audit fees||15,004|2,964|17,968|
||Legal fees||835|165|1,000|
||||'I,021,442|201,771|1,223,213|



|Taxation||||
|---|---|---|---|
|||2022|2021|
||||E|
|Domestic current|year tax|||
|UK Corporation|Tax|(253,714)|(6,145)|
|||(253,714)|(6,145)|





## 

|.Staff costs and direc||tors'|remu|ner|ation||||
|---|---|---|---|---|---|---|---|---|
||||||||2022|2021|
||||||||E|E|
|Salaries and wages|||||||1,658,571|1,557,683|
|Employers'<br>National||Insurance||contributions|||146,017|131,657|
|Employers'<br>pension|contributions||||||38,080|37,385|
||||||||1,842,668|1,726,725|
|These costs are included|||as follows:||||||
|Activities for raising||funds|||||346,475|256,473|
|Theatre productions|||||||1,049,861|1,044,985|
|Young People's programme|||||||190,739|200,389|
|Support costs|||||||255,593|224,878|
||||||||1,842,668|1,726,725|
|The average<br>number||of employees|||during|the|year was as follows:||
||||||||2022|2021|
|Full time|||||||33|39|
|Part time and casual|||||||51|43|
||||||||84|82|
|The number<br>of full time equivalent|||||employees||was 65 (2021:53) in the following<br>categories:||
|Activities for raising|funds||||||9|10|
|Theatre productions|||||||41|31|
|Young People's programme|||||||9|6|
|Support activities|||||||6|6|
||||||||65|53|





## 

## 

||Leasehold|Equipment||
|---|---|---|---|
||improvements|and furniture|Total|
|Cost||||
|At<br>1 April 2021|12,808,851|2,170,784|14,979,635|
|Additions||87,582|87,582|
|At 31 March 2022|12,808,851|2,258,366|15,067,217|
|Depreciation||||
|At<br>1 April 2021|4,609,810|2,052,273|6,662,083|
|Charge for the year|446,776|78,923|525,699|
|At 31 March 2022|5,056,586|2,131,196|7,187,782|
|Net book value||||
|At 31 March 2022|7,752,265|127,170|7,879,435|
|At 31 March 2021|8,199,041|118,511|8,317,552|



## 

|.Investments||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||Group||Company|
|||||||||2022|2021|2022|2021|
|||||||||R|E|E|E|
|Investment|in subsidiary||undertakings|||||||||
|Investments|are included||at|cost and||are unlisted.||In the|opinion of the directors the market value of the|||
|investment|is not|materially||different||from the cost.||||||
||||||||||Number|%of issued|Cost of|
||||||||||ofshares|share capital|shares|
|Lyric Hammersmith||Enterprises|||Limited||(note 5)|||100%||
|Lyric Hammersmith||Worldwide|||Limited||(note 5)|||100%||
|.Debtors||||||||||||
||||||||||Group||Company|
|||||||||2022|2021|2022|2021|
|Trade debtors|||||||120,971||52,315|88,058|16,973|
|Subsidiary|undertakings|||||||||371,727|319,659|
|Other debtors|||||||269,575||24,797|9,715|17,166|
|Prepayments|||||||47,410||35,318|45,087|35,318|
|Accrued<br>income|||||||53,071||128,547|53,071|128,547|
||||||||. 491,027||240,977|567,658|517,663|



## 



## 

## 

|14.Creditors: amou|nts<br>falling|due wi|thin one|year||||
|---|---|---|---|---|---|---|---|
||||||Group||Company|
|||||2022|2021|2022|2021|
||||||E||E|
|Trade creditors||||399,547|114,377|387,028|113,890|
|Taxation<br>and social security||||25,022|11,038|5,844|1'i,038|
|Other creditors||||156,446|37,898|127,755|16,298|
|Accruals||||336,624|286,508|321,414|283,507|
|Deferred<br>income||||243,635|174,957|243,635|166,356|
|||||1,161,274|624,778|1,085,676|591,089|
|15.Restricted<br>funds||||||||
|||||31 March|Net incoming||31 March|
|||||2021|/(outgoing)|Transfers|2022|
|Capital grants —extension||2004|(1)|1,008,062|(91,622)||916,440|
|Young People's|fund||(2)|77,366|105,556||182,922|
|Capital project 2015|||(3)|6,385,790|(286,351)||6,099,439|
|Capital project 2018|||(4)|539,385|(55,714)||483,671|
|Restricted<br>activity fund|||(5)|219,090|(219,090)|||
|||||8,229,693|(547,221)||7,682,472|



||||31March|Net incoming||31 March|
|---|---|---|---|---|---|---|
||||2020|/(outgoing)|Transfers|2021|
|||||E|E||
|Capital grants —extension 2004||(1)|1,099,684|(91,622)||1,008,062|
|Young People's|fund|(2)||77,366||77,366|
|Capital project|2015|(3)|6,672,141|(286,351)||6,385,790|
|Capital project|2018|(4)|620,018|(58,158)|(22,475)|539,385|
|Restricted activity fund||(5)||219,090||219,090|
||||8,391,843|(139,675)|(22,475)|8,229,693|





## 




## 

|||||||F|or t|he|year ended|31 March 20|31 March 20|22||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||31 March|Net incoming|||31 March|
||||||||||2020||/(outgoing)|Transfers|2021|
||||||||||E||E|E|E|
|Designated<br>funds||||||||||||||
|Building emergency||||reserve|||(1)||100,000||||100,000|
|Building capital||reserve|||||(2)||398,802|||261,198|660,000|
|New building 2015|||||||(3)||536,967||(62,404)||474,563|
|Roofgarden reserve|||||||||19,249||(19,249)|||
|Fixed asset fund|||||||(4)||27,258||(7,372)||19,886|
|Programme<br>development|||||fund||(5)||151,020|||48,980|200,000|
|Organisational|development|||||fund|(6)||25,001||||25,001|
|Green fund|||||||(7)||25,000||||25,000|
|Next generation||fund|||||(8)||100,297||||100,297|
|Re-opening<br>fund|||2021||||(9)|||||565,000|565,000|
|Total designated|||funds||||||1,383,594||(89,025)|875,178|2,169,747|
|Other unrestricted|||funds|||||||||||
|General funds|||||||(10)||428,482||972,656|(852,703)|548,435|
|Total unrestricted|||funds||||||1,812,076||883,631|22,475|2,718,182|
|17.Analysis of group|||net|assets||between||funds||||||
||||||||||Unrestricted||funds|||
||||||||||General||Designated|Restricted|Total|
||||||||||funds||funds|funds|2022|
||||||||||||||E|
|Fixed assets and|||investments||||||||490,018|7,389,417|7,879,435|
|Current assets|||||||||1,898,566||1,360,298|293,055|3,551,919|
|Creditors|||||||||(1,161,274)||||(1,161,274)|
||||||||||737,292||1,850,316|7,682,472|10,270,080|
||||||||||Unrestricted||funds|||
||||||||||General||Designated|Restricted|Total|
||||||||||funds||funds|funds|2021|
||||||||||E||E|E||
|Fixed assets and||investments|||||||||494,449|7,823,103|8,317,552|
|Current assets|||||||||1, 173,213||1,675,298|406,590|3,255,101|
|Creditors|||||||||(624,778)||||(624,778)|
||||||||||548,435||2,169,747|8,229,693|10,947,875|



|.Contingent<br>lease obligations —c|harity and group||||
|---|---|---|---|---|
|||Group||Charity|
||2022|2021|2022|2021|
|||||E|
|Land and buildings|||||
|One year|40,000|40,000|40,000|40,000|
|Two to five years|160,000|160,000|160,000|160,000|
|More than five years|4,600,000|4,640,000|4,600,000|4,640,000|
||4,800,000|4,840,000|4,800,000|4,840,000|





## 

## 

## 

||||General|Designated|Restricted|Total|
|---|---|---|---|---|---|---|
|||Note|Funds|Funds|Funds|2020|
||||E|E|E||
|Income from:|||||||
|Donations||3(a)|206,298|||206,298|
|Charitable<br>activities|||||||
|Theatre 8 Young|||||||
|People's Activity||2|118,059|||118,059|
|Grants||3(b)|1,514,764||1,678,247|3,193,011|
|Other trading<br>activities||4|118,133|||118,133|
|Interest received|||2,135|||2,135|
|Total income|||1,959,389||1,678,247|3,637,636|
|Expenditure<br>on:|||||||
|Raising funds|||478,329|||478,329|
|Charitable<br>activities|||514,549|89,025|1,817,922|2,421,496|
|Total expenditure|||992,878|89,025|1,877,922|2,899,825|
|Net income/(expenditure)|||||||
|before taxation|||966,511|(89,025)|(139,675)|737,811|
|Taxation||9|6,145|||6,145|
|Transfers between|funds|15,16|(852,703)|875, 778|(22,475)||
|Net movement<br>in funds|||119,953|786,153|(162,150)|743,956|
|Reconciliation<br>offunds:|||||||
|Total funds brought|forward||428,482|1,383,594|8,391,843|10,203,919|
|Total funds carried|forward||548,435|2,169,747|8,229,693|10,947,875|





## 

||||Unrestricted|Restricted|Total|
|---|---|---|---|---|---|
|||Note|Funds|Funds|2022|
||||E||E|
|Income from:||||||
|Donations|||115,774||115,774|
|Charitable<br>activities||||||
|Theatre<br>8 Young||||||
|People's Activity|||1,531,873||1,531,873|
|Grants|||1,405,419|662,657|2,068,076|
|Other trading<br>activities|||239,650||239,650|
|Interest received|||2,173||2,173|
|Total income|||3,288,255|662,657|3,950,912|
|Expenditure<br>on:||||||
|Raising funds|||491,968||491,968|
|Charitable<br>activities|||2,933,495|1,209,878|4,143,373|
|Total expenditure|||3,425,463|1,209,878|4,635,341|
|Net income/(expenditure)||||||
|before transfers|||(130,574)|(547,221)|(677,795)|
|Transfers<br>between|funds|||||
|Net movement<br>in funds|||(130,574)|(547,221)|(677,795)|
|Reconciliation<br>offunds:||||||
|Total funds brought|forward||2,718,182|8,229,693|10,947,875|
|Total funds carried|forward||2,587,608|7,682,472|10,270,080|