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2023-03-31-accounts

Page
Reference and Administrative Details ofthe Company, its Trustees and Advisers
Trustees'
Report
Independent Auditors'
Report
on the Financial Statements 12-15
Consolidated Statement of Financial Activities 16
Consolidated Balance Sheet 17
Company
Balance Sheet
18-19
Consolidated Statement ofCash Flows 20
Notes to the Financial Statements 21 -48
Trustees Nicholas
Buckland OBE, Chair
Nicholas
Buckland OBE, Chair
Nicholas
Buckland OBE, Chair
Nicholas
Buckland OBE, Chair
Nicholas
Buckland OBE, Chair
(resigned (resigned (resigned 31 March 2023) March 2023)
Dame Darcey Bussell DBE, Chair (appointed 1 April 2023)
Bronwen Lacey, Vice Chair
Anjinder
Kaur Bual (appointed
29 November 2022)
Alastair Coomer CDG (appointed 29 November 2022)
Sarah Fysh
Shona Godefroy
Lynda Grzelinski (appointed 29 November 2022)
Emma-Marie
Huxham
Andrew John Hendy Ibbs (appointed 29 November 2022)
Imogen
Kinchin
Sarah McAdam (appointed 29 November 2022)
Julie Nash (appointed 29 November 2022)
James Pidgeon
Samra Said (appointed 29 November 2022)
Hannah
Sloggett
(appointed 29 November 2022)
Dawn Marie Williams (appointed 29 November 2022)
Company registered
number 01560651
Charity registered
number 284545
Registered office Royal Parade
Plymouth
Devon
PL1 2TR
Chief Executive James Mackenzie-Blackman
Independent auditors Bishop Fleming LLP
Chartered
Accountants
Salt Quay House
4 North East Quay
Sutton Harbour
Plymouth
PL4 OBN
Bankers NatWest
St Andrew's
Cross
Plymouth
PL4 OHY
Lloyds Bank
8 Royal Parade
Plymouth
PL1 1LX
Solicitors Womble
Bond Dickinson
Ballard House
West Hoe Road
Plymouth
PL1 3AE
Page 1

Unrestricted Restricted Total Total
funds funds funds funds
2023 2023 2023 2022
Note OOOO f:000 f000 f000
INCOME FROM:
Donations
and legacies
2,078 375 2,453 3,777
Charitable
activities
13,114 13,114 6,154
Other trading
activities
1,137 1,137 438
Investments 37 37 2
TOTAL INCOME 16,366 375 16,741 10,371
EXPENDITURE ON:
Raising funds 873 873 300
Charitable
activities
15,634 1,006 16,640 10,344
TOTAL EXPENDITURE 16,507 1,006 17,513 10,644
Net expenditure (141) (631) (772) (273)
Transfers
between
funds 21 (7) 7
NET MOVEMENT IN FUNDS (148) (624) (772) (273)
RECONCILIATION OF FUNDS:
Total funds brought forward 4,264 10,916 15,180 15,453
Net movement
in funds
(148) (624) (772) (273)
TOTAL FUNDS CARRIED FORWARD 4,116 10,292 14,408 15,180
2023 2022
Note OOOO 8000
FIXEDASSETS
Tangible assets 13 10,683 11,113
Heritage assets 14 523 543
11,206 11,656
CURRENT ASSETS
Stocks 16 97 96
Debtors 17 331 433
Cash at bank and in hand 25 8,809 10,018
9,237 10,547
Creditors: amounts falling due within one
year 18 (5,777) (6,734)
NET CURRENT ASSETS 3,460 3,813
TOTAL ASSETS LESSCURRENT
LIABILITIES 14,666 15,469
Creditors: amounts falling due after more
than one year 19 (10) (49)
Provisions
for liabilities
20 (249) (240)
TOTAL NET ASSETS 14,407 15,180
CHARITY FUNDS
Restricted
funds
21 10,292 10,916
Unrestricted
funds:
Designated
funds
21 2,941 3,214
General funds 21 1,174 1,050
Total unrestricted funds 21 4,115 4,264
TOTAL FUNDS 14,407 15,180

2023 2022
Note FOOO f000
FIXEDASSETS
Tangible assets 13 10,683 11,113
Heritage assets 14 523 543
Investments 15
11,206 11,656
CURRENT ASSETS
Stocks 16 72 75
Debtors 17 321 428
Cash at bank and in hand 8,754 9,973
9,147 10,476
Creditors: amounts falling due within one
year 18 (6,086) (6,836)
NET CURRENT ASSETS 3,061 3,640
TOTAL ASSETS LESSCURRENT
LIABILITIES 14,267 15,296
Creditors: amounts falling due after more
than one year 19 (10) (49)
Provisions
for liabilities
20 (250) (240)
TOTAL NET ASSETS 14,007 15,007

2023 2022
Note OOOO OOOO
CHARITY FUNDS
Restricted funds 10,292 10,916
Unrestricted funds:
Designated funds 2,941 3,214
General funds 774 877
Total unrestricted funds 3,715 4,091
TOTAL FUNDS 14,007 15,007

2023 2022
Note f000 f000
CASH FLOWS FROM OPERATING ACTIVITIES
Net cash (used in)/ provided
by operating
activities
24 (1,062) 2,620
CASH FLOWS FROM INVESTING ACTIVITIES
Dividends, interests and rents from investments 37 2
Purchase oftangible fixed assets (184) (457)
NET CASH PROVIDED BY/(USED IN) INVESTING ACTIVITIES (147) (455)
CHANGE IN CASH AND CASH EQUIVALENTS IN THE YEAR (1,209) 2,165
Cash and cash equivalents
at the beginning
ofthe year
10,018 7,853
CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR 25 8,809 10,018

Unrestricted Restricted Total
funds funds funds
2023 2023 2023
FOOO OOOO OOOO
GRANTS
Arts Council England - Core 1,208 1,208
Arts Council England - Culture Recovery Fund 77 77
Plymouth City Council 315 315
Engagement & Learning grants 225 225
The Backstage Trust 67 67
Jerwood Arts 36 36
Donations 213 213
Development income 265 47 312
2,078 375 2,453
Unrestricted Restricted Total
funds funds funds
2022 2022 2022
FOOO 6000 f000
GRANTS
Arts Council England -Core 1,207 1,207
Arts Council England - Culture Recovery Fund 1,300 1,300
Plymouth
City Council
315 315
Engagement 8 Learning grants 364 364
Donations 19 75 94
CJRS grants 229 229
Development income 268 268
3,109 668 3,777

Unrestricted Total Total
funds funds funds
2023 2023 2022
OOOO f000 f000
BoxOffice 10,826 10,&26 2,985
'Theatre Rentals 143 143 1,372
Co-producers' Contributions 38 38 260
Commercial Build Activity 2,003 2,003 1,474
Other 104 104 63
TOTAL 2023 13,114 13,114 6,154

Unrestricted Total Total
funds funds funds
2023 2023 2022
f000 f000 6000
Catering 8 retailing 1,137 1,137 438
All ofthe prior year amounts were unrestricted.

Unrestricted Total Total
funds funds funds
2023 2023 2022
f000 OOOO f000
Investment income 37 37

Unrestricted Restricted
funds funds Total
2023 2023 2023
f000 f000 f000
Theatre productions and education 15,634 1,006 16,640
Unrestricted Restricted
funds funds Total
2022 2022 2022
f000 OOOO f000
Theatre productions and education 8,925 1,419 10,344
9. ANALYSIS OF EXPENDITURE BYACTIVITIES
Activities
undertaken Support Total
directly costs funds
2023 2023 2023
OOOO f.000 f000
Theatre productions and education 14,077 2,563 16,640
Activities
undertaken Support Total
directly costs funds
2022 2022 2022
OOOO FOOO OOOO
Theatre productions and education 7,838 2,506 10,344

Total Total
funds funds
2023 2022
OOOO f000
Staff costs 1,384 1,467
Depreciation 634 593
Marketing, development and hospitality 53 31
Finance 177 143
Cleaning 88 76
ITand administration 194 165
Governance costs 33 31
2,563 2,506

Group Group Company Company
2023 2022 2023 2022
f.000 f000 f000 f000
Wages and salaries 4,604 4,043 4,352 3,951
Social security costs 380 320 371 317
Contribution to defined contribution pension
schemes 163 141 160 141
5,147 4,504 4,883 4,409

Group Group Group Company Company
2023 2022 2023 2022
No. No. No. No.
Management and administration 23 19 23 19
Venue staff 26 22 26 22
Production staff 55 44 55 44
Catering staff 4 1
Cast 1 2 1 2
Part-time and casual staff 161 159 139 152
270 246 245 239
The average headcount expressed as full-time equivalents was:
Group Group Company Company
2023 2022 2023 2022
No. No. No. No.
Management and administration 21 21 21 21
Venue staff 27 22 27 22
Production staff 53 46 53 46
Catering staff 3
Cast 1 2 1 2
Part-time and casual staff 57 63 48 59
162 154 150 150
Group Group
2023 2022
No. No.

Long-term Equipment
leasehold &motor
property
f000
vehicles
f000
Total
f000
COST
At 1 April 2022 18,458 2,209 20,667
Additions 68 116 184
Disposals (31) (31)
At 31 March 2023 18,526 2,294 20,&20
DEPRECIATION
At 1 April 2022 ?,904 1,649 9,553
Charge for the year 431 184 615
On disposals (31) (31)
At 31 March 2023 8,335 1,802 10,137
NET BOOK VALUE
At 31 March 2023 10,191 492 10„683
At 31 March 2022 10,554 559 11,113

Long-term
leasehold Office
property equipment Total
FOOO FOOO FOOO
COST
At 1 April 2022 18,458 2,201 20,659
Additions 68 116 184
Disposals (31) (31)
At 31 March 2023 18,526 2,286 20,812
DEPRECIATION
At 1 April 2022 7,904 1,641 9„545
Charge for the year 431 184 615
On disposals (31) (31)
At 31 March 2023 8,335 1,794 10,129
NET BOOK VALUE
At 31 March 2023 10,191 492 10,683
At 31 March 2022 10,554 559 11,113

Heritage
asset
2023
f000
Carrying value at 1 April 2022 543
Depreciation (20)
Net book value at 31 March 2022 523
Analysis of heritage asset transactions

2023 2022 2021 2020 2019
f000 f000 f000 f000 f000
PURCHASES
Heritage asset 25
TOTAL ADDITIONS
25
CHARGE FOR
DEPRECIATION
Heritage asset (20) (20) (20) (20)
TOTAL CHARGE FOR
IMPAIRMENT
(20) (20) (20) (20)

Principal activity Class of Included in
shares consolidation
The company Ordinary Yes
provides retailing,
bar, and catering
facilities.
Names Income Expenditure Profit for Net assets
FOOO FOOO the period FOOO
FOOO
Talklight Limited 1,144 (765) 379 401

Group Group Company Company
2023 2022 2023 2022
f000 fOOO OOOO fOOO
Finished goods and goods for resale 97 96 72 75

Group Group Company Company
2023 2022 2023 2022
f000 f000 f000 f000
DUE WITHIN ONE YEAR
Trade debtors 136 220 133 220
Other debtors 111 160 107 159
Prepayments and accrued income 81 49 81 49
Deferred taxation 3 4
331 433 321 428

Group Group Company Company
2023
f000
2022
f000
2023
f000
2022
f000
Trade creditors 290 503 246 464
Amounts
owed
to group undertakings 378 148
Other taxation and social security 173 340 169 337
Other creditors 844 820 843 817
Accruals and deferred income 4,470 5,071 4,450 5,070
5,777 6,734 6,086 6,836

Group Group Company Company
2023 2022 2023 2022
f000 f000 f000 f000
Accruals and deferred income 10 49 10 49

Dilapidation Show
Provisions Provisions Total
f000 f000 f000
At 1 April 2022 68 172 240
Additions 202 202
Amounts used (21) (172) (1S3)
47 202 249

Balance at
Balance at 1 Transfers 31 March
April 2022 Income Expenditure in/out 2023
f000 OOOO f000 f000 f000
UNRESTRICTED FUNDS
DESIGNATED FUNDS
Engagement
8 Learning
32 32
Capacity
Building
93 (106) 13
Deferred
Artistic Funds
524 (202) 322
Mayflower
Reserve
200 (38) 162
Website Development Reserve 10 (10)
Drum Refurbishment Reserve 348 (17) 32 363
Digital Strategy Reserve 20 20
MMI fund 205 205
Flood repairs (3)
Staff obligations 1,327 1,327
Post Covid support
Anniversary
Celebrations
60 (68)
Conversations 50 (12) (38)
Dressing
Room Project
30 30
Governance
Improvements
30 (8) 22
Dilapidations 317 (9) 308
Auditorium
and Stage
Lighting 150 150
3,214 32 (473) 168 2,941
GENERAL FUNDS
General
Funds
1,050 16,334 (16,035) (175) 1,174
TOTAL UNRESTRICTED
FUNDS 4,264 16,366 (16,508) (7) 4,115

Balance at
Balance at 1 Transfers 31 March
April 2022 Income Expenditure in/out 2023
f000 f000 OOOO OOOO f000
RESTRICTED FUNDS
Production
8 Education
Centre 4,302 (166) 4,136
Capital
Appeal
Fund
167 (5) 162
Regeneration
Project
5,872 (250) 5,622
Engagement
8 Learning
468 271 (575) 106 270
TRAC Legacy Fund
TRP Christmas
Appeal
54 (54)
Joan Lucas Fund 8 (2)
Adopt a Seat 1 (1)
Pennon for YC Hubs 38 (38)
CJRS Grants
Garfield Weston Foundation
Grant
Development (6)
The Backstage Trust 67 (8) 59
Jerwood Arts 36 36
10,916 375 (1,006) 10,292
TOTAL OF FUNDS 15,180 16,741 (17,514) 14,407

Balance at
Balance at Transfers 31 March
1 April 2021 Income Expenditure in/out 2022
f000 f000 OOOO f000 f000
UNRESTRICTED FUNDS
DESIGNATED FUNDS
Engagement
8 Learning
Capacity
Building
142 (75) 26 93
Artistic Reserve 524 524
Mayflower
Reserve
200 (39) 39 200
Website Development Reserve 10 10
Drum Refurbishment Reserve 150 (14) 212 348
Digital Strategy Reserve 59 (39) 20
MMI fund 205 205
Flood repairs
Staff obligations 1,327 1,327
Post Covid support 20 (20)
Anniversary
Celebrations
60 60
Conversations 50 50
Dressing
Room Project
30 30
Governance
Improvements
30 30
Dilapidations 317 317
Auditorium
and Stage
Lighting
2,637 (128) 705 3,214
GENERAL FUNDS
General
Funds
1,153 9,703 (9,097) (709) 1,050
TOTAL UNRESTRICTED
FUNDS 3,790 9,703 (9,225) (4) 4,264

Balance at
Balance at Transfers 31 March
1 April 2021 Income Expenditure in/out 2022
f000 OOOO f000 f000 f000
RESTRICTED FUNDS
Production
8 Education
Centre 4,468 (166) 4,302
Capital Appeal Fund 172 (5) 167
Regeneration Project 6,124 (252) 5,872
Engagement
& Learning
554 364 (454) 468
TRAC Legacy Fund 2 (2)
TRP Christmas Appeal 29 26 (1) 54
Joan Lucas Fund 7 1 8
Adopt a Seat 1 1
Pennon for YC Hubs 40 (2)
CJRS Grants 229 (229)
Garfield Weston Foundation
Grant 301 (301)
Development 6 (7)
The Backstage Trust
Jerwood Arts
11,663 668 (1,419) 10,916
TOTAL OF FUNDS 15,453 10,371 (10,644) 15,180

Funding Funding At 31
March
2022
Transfer
in at start
ofyear
Transfer
in at start
ofyear
Income Expenditure . l
Transfer
At 31
March
2023
Our Space
Funding
b/fwd
Other income
Expenditure (4&)
Transfer
in
Funding
c/fwd
Funky
Llama
Funding
b/fwd
55
Funding
b/fwd
transfer
In 54
Other income
Expenditure 42
Funding
c/fwd
NT Connections
Funding
b/fwd
NT Connections
Company 8
Enhancement
Other income
Expenditure
Funding
c/fwd
Dare to Dazzle
Funding
b/fwd
13
BBCChildren ln Need 19
Expenditure 21
Funding
c/fwd
Young Company Hubs
Funding
b/fwd
Womble Bond Dickinson
Expenditure
Transfer
in
Funding
c/fwd
The Lab Company
Funding
b/fwd
Funding
c/fwd
4or More
Funding
b/fwd
Transfer out
Funding
c/fwd
Funding At 31
March
2022
Transfer
in at start
ofyear
Income Expenditure . l
Transfer
inl (out)
At 31
March
2023
Young Company Hub
—Pennon
Funding
b/fwd
Funding
b/fwd transfer
in 38
Pennon
Group
40
Womhte Bond Dickinson 2
Expenditure 52
Funding
c/fwd
28
With Flying Colours
Funding
b/fwd
306
Arts Council England 125
Expenditure 302
Funding
c/fwd
129
Tiny Tales Front of
House
Funding
b/fwd
Other income
Expenditure (6)
Transfer
in
Funding
c/fwd
Tiny Tales Schools
Funding
b/fwd
(2)
Paul Ham/yn
Foundation 61
Expenditure 16
Funding
c/fwd
43
Nursery
Tiny Tales
Funding
b/fwd
Plymouth
Drake
Foundation
Expenditure
Funding
c/fwd
Mayflower —The
National
Heritage
Lottery
Funding
b/fwd
15
Expenditure 15
Funding
c/fwd

Funding Funding Funding At 31
March
2022
Transfer
in at start
ofyear
Income Expenditure . l
t
Transfer
. l
t
Transfer
At 31
March
2023
Playhouse
Funding
b/fwd
Funding
b/fwd
transfer
In
Princess
Yachts
Other income
Expenditure (10)
Transfer
in
Funding
c/fwd
15
Get Started
Funding
b/fwd
Prince's
Trust
Commission
Expenditure
Funding
c/fwd
Holiday Projects
Funding
b/fwd
Plymouth
City
Council-
Fit 8 Fed
Other income
Expenditure
Funding
c/fwd
NT Connections
Funding
b/fwd
The National Theatre
Expenditure
Funding
c/fwd
Mayflower —Plymouth
Culture
Funding
b/fwd
30
Expenditure 30
Funding
c/fwd
TOTAL 468 66 302 576 301

ANALYSI S O F NET A SSETS BETWEEN FUND S - CURRENT YEAR
Unrestricted Restricted Total
funds funds funds
2023 2023 2023
f000 f000 f000
Tangible fixed assets 763 9,920 10,683
Heritage assets 523 523
Current assets 9,238 9,238
Creditors due within one year (5,626) (151) (5,777)
Creditors due in more than one year (10) (10)
Provisions for liabilities and charges (250) (250)
TOTAL 4,115 10,292 14,407

ANALYSI S OF NET A SSETS BETWEEN FUNDS - PRIOR YEAR
Unrestricted Restricted Total
funds funds funds
2022 2022 2022
f000 f000 f000
Tangible fixed assets 772 10,341 11,113
Heritage assets 543 543
Current assets 10,515 32 10,547
Creditors due within one year (6,734) (6,734)
Creditors due in more than one year (49) (49)
Provisions for liabilities and charges (240) (240)
4,264 10,916 15,180

Group Group
2023 2022
f,000 f000
Net expenditure
for the year (as per Statement
of Financial Activities) (772) (273)
ADJUSTMENTS FOR:
Depreciation charges 634 593
Dividends, interests and rents from investments (37) (2)
Increase
in
stocks (1) (53)
Decrease/(increase) in debtors 102 (221)
Increase/(decrease) in creditors (995) 3,158
Increase/(decrease) in provisions 7 (582)
NET CASH PROVIDED BY/(USED IN) OPERATING ACTIVITIES (1,062) 2,620
ANALYSIS OF CASH AND CASH EQUIVALENTS
Group Group
2023 2022
f000 f000
Cash at bank and
in
hand 8,809 10,018

At 1 April At 31 March
2022 Cash flows 2023
R000 FOOO
Cash at bank and in hand 10,018 (1,209) 8,809