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||Page|
|---|---|
|LegalandAdministrativeDetails|2|
|Trustees'Report|3|
|IndependentAuditor'sReport|22|
|ConsolidatedStatementofFinancialActivities|26|
|BalanceSheets|27|
|ConsolidatedStatementofCashFlows|28|
|NotestotheFinancialStatements|29|





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||Note|Unrestricted|Restricted|Total2021|Unrestricted|Restricted|Total2020|
|---|---|---|---|---|---|---|---|
|||Funds|Funds||Funds|Funds||
|||£|£||£|£|£|
|INCOMEANDEXPENDITURE||||||||
|Incomefrom||||||||
|Donationsandgrants|2|3,027,719|234,679|3,262,398|1,819,568|715,957|2,535,525|
|Charitableactivities|3|517,921|-|517,921|3,010,736|-|3,010,736|
|Othertradingactivities|4|145,231|-|145,231|835,360|-|835,360|
|Investments|5|1,520|-|1,520|10,141|-|10,141|
|TotalIncome||3,692,391|234,679|3,927,070|5,675,805|715,957|6,391,762|
|Expenditureon||||||||
|RaisingFunds|6|405,140|-|405,140|671,111|-|671,111|
|Charitableactivities|7|2,806,800|313,899|3,120,699|5,276,471|456,648|5,733,119|
|TotalExpenditure||3,211,940|313,899|3,525,839|5,947,582|456,648|6,404,230|
|NetIncome/(expenditure)<br>fortheyear|8|480,451|(79,220)|401,231|(271,777)|259,309|(12,468)|
|FundBalancesBrought<br>Forward||2,897,963|2,994,030|5,891,993|3,169,740|2,734,721|5,904,461|
|FundBalancesCarried<br>Forward||3,378,414|2,914,810|6,293,224|2,897,963|2,994,030|5,891,993|





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||||Group||Charity|
|---|---|---|---|---|---|
||Note|2021|2020|2021|2020|
|FIXEDASSETS||£|£|£|£|
|Tangibleassets|11|3,964,617|4,197,124|3,956,713|4,191,668|
|Investments|12||-|100|100|
|||3,964,617|4,197,124|3,956,813|4,191,768|
|CURRENTASSETS||||||
|Stocks||6,255|8,269|—||
|Debtors|14|674,525|903,632|694,309|917,241|
|Cashatbankandinhand||2,639,259|2,078,825|2,625,667|2,062,797|
|||3,320,039|2,990,726|3,319,976|2,980,038|
|CREDITORS:amounts||||||
|fallingdue||||||
|withinoneyear|15|(991,432)|(1,295,857)|(995,216)|<br>(1,289,015)|
|NETCURRENTASSETS||2,328,607|1,694,869|2,324,760|1,691,023|
|NETASSETS||6,293,224|5,891,993|6,281,573|5,882,791|
|THEFUNDSOFTHE||||||
|CHARITY/GROUP||||||
|Restrictedfunds|17|2,914,810|2,994,030|2,914,810|<br>2,994,030|
|Unrestrictedfunds||||||
|Tangiblefixedassetfund|18|1,465,060|1,533,777|1,457,156|1,528,321|
|Designatedfunds|19|1,010,000|560,000|1,010,000|560,000|
|Generalfunds|20|903,354|804,186|899,607|800,440|
|||3,378,414|2,897,963|3,366,763|2,888,761|
|||6,293,224|5,891,993|6,281,573|5,882,791|





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||||2021|2020|
|---|---|---|---|---|
||Note||£|£|
|Cashinflowfromoperatingactivities:|||||
|Netcashprovidedbyoperatingactivities||A|598,675|762,039|
|Cashinflowfrominvestingactivities:|||||
|Interestfrominvestments|||1,520|10,141|
|Purchaseoftangiblefixedassets|||(39,761)|(113,698)|
|Netcashusedininvestingactivities|||(38,241)|(103,157)|
|Changeincashandcashequivalentsintheyear|||560,434|658,882|
|Cashandcashequivalentsat1April2020|||2,078,825|1,419,943|
|Cashandcashequivalentsat31March2021||B|2,639,259|2,078,825|



## 

||2021|2020|
|---|---|---|
||£|£|
|Netincome(expenditure)(asperthestatementoffinancialactivities)|401,231|(12,468)|
|Adjustmentsfor:|||
|Depreciationcharge|272,268|260,911|
|Interestfrominvestments|(1,520)|(10,141)|
|Decreaseinstocks|2,014|1,108|
|Decreaseindebtors|229,107|257,264|
|(Decrease)increaseincreditors|(304,425)|265,365|
|Netcashprovidedbyoperatingactivities|598,675|762,039|
|B<br>Analysisofcashandcashequivalents|||
||2021|2020|
||£|£|
|Cashatbankandinhand|2,639,259|2,078,825|
|Totalnetfundsandcashandcashequivalents|2,639,259|2,078,825|





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|NCOMEFROMDONATI|ONSANDGRAN|TS|||||
|---|---|---|---|---|---|---|
||Unrestricted|Restricted||Unrestricted|Restricted||
||Funds|Funds|2021|Funds|Funds|2020|
||£|£|£|£|£|£|
|ArtsCouncilgrants|687,933|-|687,933|675,504|-|675,504|
|DCMSCRFGrant|574,000||574,000||||
|SmallBusinessGrant|25,000|-|25,000||||
|FurloughGrants|784,292|-|784,292||||
|Donations|956,494|234,679|1,191,173|1,144,064|715,957|1,860,021|
|Totalfunds|3,027,719|234,679|3,262,398|1,819,568|715,957|2,535,525|



## 

|INCOMEFROMCHARITABLEACTIVITIES|||
|---|---|---|
||UnrestrictedFunds||
||2021|2020|
||£|£|
|Theatreoperatingincome|458,411|2,596,724|
|Theatretaxrelief|59,510|414,012|
|Totalfunds|517,921|3,010,736|



## 

|INCOMEFROMOTHERTRADINGACTIVITIES|||
|---|---|---|
||Unrestricted|Funds|
||2021|2020|
||£|£|
|Corporateactivities|113,335|388,125|
|Barrevenue|8,868|344,459|
|Othertheatretrading|40|76,783|
|Rentalincome|22,988|25,993|
|Totalfunds|145,231|835,360|





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||||
|---|---|---|
|INCOMEFROMINVESTMENTS|Unrestricted|Funds|
||2021|2020|
||£|£|
|Bankinterest|1,520|10,141|
|Totalfunds|1,520|10,141|



## 

||Direct|Support||Direct|Support||
|---|---|---|---|---|---|---|
|Activity|Expenditure|Costs|2021|Expenditure|Costs|2020|
||£|£|£|£|£|£|
|Donations|97,824|4,079|101,903|169,065|3,736|172,801|
|Fundraisingevents|36,479|1,521|38,000|36,615|1,385|38,000|
|Corporateactivities|60,373|2,517|62,890|65,410|2,232|67,642|
|Barexpenses|194,247|8,100|202,347|337,051|7,407|344,458|
|Othertheatretrading|—|—|—|46,821|1,389|48,210|
|Totalfunds|388,923|16,217|405,140|654,962|16,149|671,111|



## 

||Unrestricted|Restricted||Unrestricted|Restricted||
|---|---|---|---|---|---|---|
||Funds|Funds|2021|Funds|Funds|2020|
||£|£|£|£|£|£|
|Directcostsof|||||||
|operatingTheatre|2,694,447|301,334|2,995,781|5,155,420|446,172|5,601,592|
|Supportcosts|112,353|12,565|124,918|121,051|10,476|131,527|
|Totalfunds|2,806,800|313,899|3,120,699|5,276,471|456,648|5,733,119|





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|NETINCOME(EXPENDITURE)||Group|
|---|---|---|
||2021|2020|
||£||
|Netincome(expenditure)fortheyearis|||
|statedaftercharging:|||
|Depreciationoftangiblefixedassets|272,268|260,911|
|Auditor'sremuneration|||
|-auditfees|18,220|17,225|
|-tax|2,950|2,860|
|-otherservices|1,800|2,175|



## 

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|10.|STAFFCOSTSANDDIRECTORS'REMUNERATION|2021|2020|
|---|---|---|---|
|||£|£|
||Totalemoluments:|||
||Wagesandsalaries|1,929,611|2,879,926|
||NationalInsurance|151,792|189,933|
||Pensioncontributions|47,489|51,895|
|||2,128,892|3,121,754|
|||2021|2020|
|||Number|Number|
||Averagenumberofemployees(fulltimeequivalents):|||
||TheatreArtists(Actors,supernumeraries,extras)|1|19|
||TheatreOperation|21|27|
||Development&Marketing|9|11|
||Education&Access|4|6|
||Administration&Finance|8|9|
||CateringCompany|6|6|
|||49|78|





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|Averagenumberofemployees(headcount):|||
|---|---|---|
||2021|2020|
||Number|Number|
|Charity|149|180|
|Catering|22|21|
||171|201|



||2021|2020|
|---|---|---|
||Number|Number|
|£60,000-£69,999||1|
|£70,000-£79,999|1||
|£80,000-£89,999||1|
|£110,000-£119,999|1||
|£120,000-£129,999||1|
||2|3|





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|TANGIBLEFIXEDASSETS|||||
|---|---|---|---|---|
||Freehold||Fixtures,||
||landand|Building|fittingsand||
||buildings|renovations|equipment|Total|
|Group|£|£|£|£|
|Cost|||||
|At31March2020|2,133,229|3,594,106|2,601,330|8,328,665|
|Additions|-|-|39,761|39,761|
|At31March2021|2,133,229|3,594,106|2,641,091|8,368,426|
|Accumulateddepreciation|||||
|At31March2020|354,024|1,554,369|2,223,148|4,131,541|
|Chargefortheyear|27,476|88,638|156,154|272,268|
|At31March2021|381,500|1,643,007|2,379,302|4,403,809|
|NetBookValue|||||
|At31March2021|1,751,729|1,951,099|261,789|3,964,617|
|At31March2020|1,779,205|2,039,737|378,182|4,197,124|
||Freehold||Fixtures,||
||landand|Building|fittingsand||
||buildings|renovations|equipment|Total|
||£|£|£|£|
|Charity|||||
|Cost|||||
|At31March2020|2,133,229|3,594,106|2,576,451|8,303,786|
|Additions|-|-|34,585|34,585|
|At31March2021|2,133,229|3,594,106|2,611,036|8,338,371|
|Accumulateddepreciation|||||
|At31March2020|354,024|1,554,369|2,203,725|4,112,118|
|Chargefortheyear|27,476|88,638|153,426|269,540|
|At31March2021|381,500|1,643,007|2,357,151|4,381,658|
|NetBookValue|||||
|At31March2021|1,751,729|1,951,099|253,885|3,956,713|
|At31March2020|1,779,205|2,039,737|372,726|4,191,668|





## 

## 

|<br>March2021isshownbelow.|||
|---|---|---|
||2021|2020|
|Turnover|8,868|344,458|
|Costofsales|(199,874)|(324,043)|
|Gross(loss)profit|(191,006)|20,415|
|Administrativeexpenses(netofmanagementfees)|(7,424)|(15,641)|
|Otheroperatingincome|193,479||
|(Loss)profitfortheyear|(4,951)|4,774|
|Theassetsandliabilitiesofthissubsidiarywere:|||
|Fixedassets|7,904|5,456|
|Currentassets|19,848|26,842|
|Creditors:amountsfallingduewithinoneyear|(59,529)|(59,124)|
|Totalnetliabilities|(31,777)|(26,826)|
|Aggregatesharecapitalandreserves|(31,777)|(26,826)|





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|||||2021|2020|
|---|---|---|---|---|---|
|||||£|£|
||Turnover|||492,221|2,826,471|
||Costofsales|||(551,731)|(3,240,483)|
||Grossloss|||(59,510)|(414,012)|
||Taxationfortheyear|||59,510|414,012|
||Lossfortheyear|||||
||Theassetsandliabilitiesofthissubsidiarywere:|||||
||Currentassets|||59,510|414,012|
||Creditors:amountsfallingduewithinoneyear|||(59,510)|(414,006)|
||Totalnetassets|||6|6|
||Aggregatesharecapitalandreserves|||6|6|
|14.|DEBTORS|Group|||Charity|
|||2021|2020|2021|2020|
|||£|£|£|£|
||Duewithinoneyear|||||
||Tradedebtors|104,529|23,423|104,529|<br>23,423|
||Amountsowedbysubsidiaryundertakings|||79,300|<br>427,628|
||Otherdebtors|59,524|419,322|8|<br>5,303|
||Productioncostsinadvance|246,676|230,965|246,676|<br>230,965|
||Prepaymentsandaccruedincome|263,796|229,922|263,796|<br>229,922|
|||674,525|903,632|694,309|<br>917,241|
|15.|CREDITORS:amountsfallingdue|Group|||Charity|
||withinoneyear|2021|2020|2021|2020|
|||£|£|£|£|
||Tradecreditors|78,927|182,492|78,788|<br>182,331|
||Othertaxationandsocialsecurity|87,563|86,778|87,021|<br>84,518|
||Othercreditors|167,455|118,275|171,920|<br>113,854|
||Boxofficereceiptsinadvance||157,614||157,614|
||Accrualsanddeferredincome|657,487|750,698|657,487|<br>750,698|
|||991,432|1,295,857|995,216|<br>1,289,015|





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|erredincomerelatestogrant,sponsorship,donationan<br>chwillbespentinsubsequentyears.|dmembershipincomereceivedd|uringtheyear|
|---|---|---|
||2021|2020|
|Groupandcharity|£|£|
|Deferredincomebroughtforward|471,600|218,840|
|Releasedintheyear|(470,879)|(108,440)|
|Deferredintheyear|90,486|361,200|
|Deferredincomecarriedforward|91,207|471,600|



## 

||1April|||31March|
|---|---|---|---|---|
||2020|Income|Expenditure|2021|
|GroupandCharity|||||
|Productionsfund|330,584|234,679|(150,010)|415,253|
|Capitalfund|2,663,446||(163,889)|2,499,557|
|Restrictedfunds|2,994,030|234,679|(313,899)|2,914,810|
||1April|||31March|
||2019|Income|Expenditure|2020|
|GroupandCharity|||||
|Productionsfund||635,957|(305,373)|330,584|
|Capitalfund|2,734,721|80,000|(151,275)|2,663,446|
|Restrictedfunds|2,734,721|715,957|(456,648)|2,994,030|



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||1April|Movement|31March|
|---|---|---|---|
||2020|inyear|2021|
||£|£|£|
|Tangiblefixedassetfund:<br>Charity|1,528,321|(71,165)|1,457,156|
|Subsidiaries|5,456|2,448|7,904|
|Group|1,533,777|(68,717)|1,456,060|



||1April|Movementin|31March|
|---|---|---|---|
||2019|year|2020|
||£|£|£|
|Tangiblefixedassetfund:<br>Charity|1,603,220|(74,899)|1,528,321|
|Subsidiaries|6,796|(1,340)|5,456|
|Group|1,610,016|(76,239)|1,533,777|





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|19.|DESIGNATED|1April|New|31March|
|---|---|---|---|---|
|||2020|designation|2021|
||Groupandcharity|£|£|£|
||Propertyredevelopmentfund|400,000||400,000|
||Maintenancereserve:||||
||Repairsandrenewals|125,000||125,000|
||Equipmentreplacementreserve|35,000||35,000|
||Creative/SpecialSituationreserve||450,000|450,000|
|||560,000|450,000|1,010,000|
|||1April|Utilised/|31March|
|||2019|Released|2020|
||Groupandcharity||£|£|
||Propertyredevelopmentfund|400,000||400,000|
||Maintenancereserve:||||
||Repairsandrenewals|125,000||125,000|
||Equipmentreplacementreserve|35,000||35,000|
||Creative/SpecialSituationreserve|150,000|(150,000)||
||Propertyredevelopmentfund||||
|||710,000|(150,000)|560,000|





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|21.|ANALYSISOFNETASSETS|Tangible|Netcurrent|2021|
|---|---|---|---|---|
||BETWEENFUNDS|fixedassets|assets|Total|
|||£|£|£|
||Group||||
||Unrestrictedfunds||||
||Tangiblefixedassetfund|1,465,060|-|1,465,060|
||Designatedfunds||1,010,000|1,010,000|
||Generalfunds||903,354|903,354|
|||1,465,060|1,913,354|3,378,414|
||Restrictedfunds|2,499,557|415,253|2,914,810|
|||3,964,617|2,328,607|6,293,224|
|||Fixed|Netcurrent|2021|
||Charity|assets|assets|Total|
|||£|£|£|
||Unrestrictedfunds||||
||Tangiblefixedassetfund|1,457,156||1,457,156|
||Designatedfunds|-|1,010,000|1,010,000|
||Generalfunds|100|899,507|899,607|
|||1,457,256|1,909,507|3,366,763|
||Restrictedfunds|2,499,557|415,253|2,914,810|
|||3,956,813|2,324,760|6,281,573|





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|21.|ANALYSISOFNETASSETS|Tangible|Netcurrent|2020|
|---|---|---|---|---|
||BETWEENFUNDS(continued)|fixedassets|assets|Total|
|||£|£|£|
||Group||||
||Unrestrictedfunds:||||
||Tangiblefixedassetfund|1,533,777||1,533,777|
||Designatedfunds||560,000|560,000|
||Generalfunds||804,186|804,186|
|||1,533,777|1,364,186|2,897,963|
||Restrictedfunds|2,663,447|330,583|2,994,030|
|||4,197,124|1,694,869|5,891,993|
|||Fixed|Netcurrent|2020|
||Charity|assets|assets|Total|
|||£|£|£|
||Unrestrictedfunds:||||
||Tangiblefixedassetfund|1,528,321||1,528,321|
||Designatedfunds||560,000|560,000|
||Generalfunds||800,440|800,440|
|||1,528,321|1,360,440|2,888,761|
||Restrictedfunds|2,663,447|330,583|2,994,030|
|||4,191,768|1,691,023|5,882,791|



##