2020-12-31-accounts - Theatre Development Trust

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				Page
Reference and administrative		details ofthe company,	its Trustees and advisers	1-2
Trustees' report				3-6
Independent auditors'	report	on the financial statements		7-10
Statement offinancial	activities
Balance sheet				12
Statement ofcash flows				13
Notes to the financial	statements			14-26

REFERENCE AND	REFERENCE AND	REFERENCE AND	ADMINISTRATIVE	DETAILS OF THE COMPANY, ITSTRUSTEES AND ADVISERS	DETAILS OF THE COMPANY, ITSTRUSTEES AND ADVISERS	DETAILS OF THE COMPANY, ITSTRUSTEES AND ADVISERS	DETAILS OF THE COMPANY, ITSTRUSTEES AND ADVISERS	DETAILS OF THE COMPANY, ITSTRUSTEES AND ADVISERS	DETAILS OF THE COMPANY, ITSTRUSTEES AND ADVISERS
			FOR THE	YEAR ENDED 31 DECEMBER 2020
Trustees			Nicholas Allott	OBE
			Kathryn Bennett		(appointed		4 November		2020)
			Kate Booth (appointed			4 November 2020)
			Lounica Burns	OBE
			Jonathan Church		OBE
			Lucy Davies
			Alexander Gavin
			Niove Janis
			Rebecca Kane	Burton
			Eleanor Lloyd
			Catherine Mallyon
			Jeremy Meadow
			Patrick Murphy
			Caroline Newling		(resigned		18November		2020)
			Andre Ptaszynski		(deceased 29 July 2020)
			Dafydd Rogers
			Edward Snape	(appointed			4 November	2020)
			Adam Speers
			Dame Rosemary		Squire
			Kenneth Wax
Company	registered
number			01928541
Charity registered
number			292559
Registered		office	32 Rose Street
			London
			WC2E 9ET
Company	secretary		Julian Bird
Independent		auditors	Nyman Libson	Paul LLP
			Chartered Accountants
			124 Finchley Road
			124 Finchley Road
			London
			NW3 5JS

		THEATRE	THEATRE	DEVELOPMENT TRUST	DEVELOPMENT TRUST	DEVELOPMENT TRUST
		(A company			limited	by guarantee)
REFERENCE AND		ADMINISTRATIVE	DETAILS OF THE COMPANY,				ITSTRUSTEES AND ADVISERS
				(CONTINUED)
		FOR THE	YEAR		ENDED 31 DECEMBER		2020
Bankers		Lloyds TSBBank PLC
		48 - 49 Strand
		London
		WC2N 5LL
		Bank ofScotland PLC
		600 Gorgie Road
		Edinburgh
		EH11 3XP
		Barclays Bank	PLC
		93Baker Street
		London
		W1A 4SD
Investment	advisors	lnvestec Wealth	and	investments		Limited
		2 Gresham Street
		London
		EC2 7QP

			Restricted	Unrestricted	Total	Total
			funds	funds	funds	funds
			2020	2020	2020	2019
		Note
Income from:
Donations and legacies		4	4,593,523	10,762	4,604,285	314,500
Investments		5	12,723	455,264	467,987	550,223
Total income			4,606,246	466,026	5,072,272	864,723
Expenditure on:
Raising funds				62,218	62,218	64,805
Charitable activities			4,629,000	327,972	4,956,972	510,849
Total expenditure			4,629,000	390,190	5,019,190	575,654
Net (expenditure)/income	before net
losses on investments			(22,754)	75,836	53,082	289,069
Realised losses on investments				(157,446)	(157,446)	(3,708)
Net movement in funds before other
recognised gains/(losses)			(22,754)	(81,610)	(104,364)	285,361
Other recognised gains/(losses):
(Losses)/gains on revaluation	of fixed
asset investments			(3,136)	(10,414)	(13,550)	1,366,008
Net movement in funds			(25,890)	(92,024)	(117,914)	1,651,369
Reconciliation offunds:
Total funds brought forward			290,312	4,684,173	4,974,485	3,323,116
Net movement in funds			(25,890)	(92,024)	(117,914)	1,651,369
Total funds carried forward			264,422	4,592,149	4,856,571	4,974,485

				2020		2019
		Note				F
Fixed assets
Investments		10		15,878,013		16,143,723
				15,878,013		16,143,723
Current assets
Cash at bank and	in hand		165,341		122,474
			165,341		122,474
Creditors: amounts	falling due within one
year		11	(11,186,783)		(11,291,712)
Net current liabilities				(11,021,442)		(11,169,238)
Total assets less	current liabilities			4,856,571		4,974,485
Total net assets				4,856,571		4,974,485
Charity funds
Restricted funds		12		264,422		290,312
Unrestricted funds		12		4,592,149		4,684,173
Total funds				4,856,571		4,974,485

				2020	2019
				E
Cash flows from operating activities
Net cash	used in operating activities			(519,834)	(188,490)
Cash flows from investing activities
Dividends,	interests and rents from investments			467,987	550,223
Proceeds	from fixed term deposits				250,000
Proceeds	from sale of investments			2,265,135	998,775
Purchase	ofinvestments			(2,037,763)	(2,338,838)
Net cash	provided by/(used in) investing		activities	695,359	(539,840)
Change in cash and cash equivalents		in	the year	175,525	(728,330)
Cash and	cash equivalents at the beginning		ofthe year	572,477	1,300,807
Cash and	cash equivalents at the end	of	the year	748,002	572,477

	Restricted	Unrestricted	Total	Total
	funds	funds	funds	funds
	2020	2020	2020	2019
	F		E	E
Donations	4,593,523	10,762	4,604,285	14,500
Legacies				300,000
	4,593,523	10,762	4,604,285	314,500
Total 2019	314,500		314,500

			Restricted	Unrestricted	Total	Total
			funds	funds	funds	funds
			2020	2020	2020	2019
				E		E
Dividends	and interest receivable	from listed
investments			12,723	454,781	467,504	547,882
Bank interest receivable				483	483	2,341
			12,723	455,264	467,987	550,223
Total 2019			1,751	548,472	550,223

			Unrestricted	Total	Total
			funds	funds	funds
			2020	2020	2019
			F	E
Investment	management	fees	62,218	62,218	64,805
Total 2019			64,805	64,805

			Activities
			undertaken	Total	Total
			directly	funds	funds
			2020	2020	2019
Charitable	activities		4,956,972	4,956,972	510,849
Total 2019			510,849	510,849
Analysis of		direct costs
			Charitable	Total	Total
			activities	funds	funds
			2020	2020	2019
			E
Theatre Artist Fund grants			4,629,000	4,629,000
Olivier bursaries					67,121
Grants to institutions			288,007	288,007	442,994
COVID research			12,400	12,400
Theatre Artists Fund costs			26,913	26,913
Miscellaneous		expenses	532	532	614
Governance		costs	120	120	120
			4,956,972	4,956,972	510,849
Total 2019			510,849	510,849

		2020	2019
			E
Mousetrap Theatre Projects		25,000	100,000
Theatre investment Fund Limited	(t/a Stage One)	13,012	103,009
UK Theatre Association		80,000	80,000
Theatres Trust		25,000
National Student Drama Festival		25,000
Polka Audience Development			5,000
Diversity in Casting		3,006	10,140
Workforce Training 8 Development		76,712	77,866
Access London Theatre		6,217
Family Arts			5,000
Parents Performing ln Arts		1,000
Theatre Helpline		23,701	30,598
Dignity at Work			2,400
Theatrecraff			10,801
Dancers Career Development			10,000
Scottish Youth Theatre			5,000
Council for Dance and Musical Theatre		3,236	3,180
Back on Stage / See it Safely		6,123
		288,007	442,994

			Listed	Other
			investments	investments	Total
				E
	Cost or valuation
	At 1 January 2020		15,693,720	450,003	16,143,723
	Additions		2,073,258	(2,073,258)
	Transfers out			(500,000)	(500,000)
	Disposal proceeds		(2,265,135)	2,265,135
	Loss on revaluations		(13,550)		(13,550)
	Loss on disposal		(157,446)		(157,446)
	Management charges			(62,218)	(62,218)
	Investment income reinvested			467,504	467,504
	At 31 December 2020		15,330,847	547,166	15,878,013
	Net book value
	At 31 December 2020		15,330,847	547,166	15,878,013
	At 31 December 2019		15,693,720	450,003	16,143,723
11.	Creditors: Amounts	falling due within one year
				2020	2019
				F	E
	Other creditors			11,174,836	11,249,332
	Accruals and deferred	income		11,947	42,380
				11,186,783	11,291,712

							Balance at
			Balance at 1				31
			January			Gains/	December
			2020	Income	Expenditure	(Losses)	2020
				E	F	F
Unrestricted		funds
General	Funds		4,684,173	466,026	(390,190)	(167,860)	4,592,149
Restricted funds
The Sir Peter and Lady
Saunders	Olivier Bursary Fund		290,312	12,723		(3,136)	299,899
Theatre Artists		Fund		4,593,523	(4,629,000)		(35,477)
			290,312	4,606,246	(4,629,000)	(3,136)	264,422
Total of	funds		4,974,485	5,072,272	(5,019,190)	(170,996)	4,856,571

								Balance at
				Balance at				31
				1 January			Gains/	December
				2019	income	Expenditure	(Losses)	2019
				E			E
Unrestricted		funds
General	Funds			3,323,116	548,472	(548,804)	1,361,389	4,684,173
Restricted funds
Olivier bursary		fund			14,500	(14,500)
The Sir Peter		and Lady
Saunders	Olivier bursary		fund		301,751	(12,350)	911	290,312
					316,251	(26,850)	911	290,312
Total of	funds			3,323,116	864,723	(575,654)	1,362,300	4,974,485

Analysis ofnet assets between funds -curr	ent period
	Restricted	Unrestricted	Total
	funds	funds	funds
	2020	2020	2020
	E		E
Fixed asset investments	264,422	15,613,591	15,878,013
Current assets		165,341	165,341
Creditors due within one year		(11,186,783)	(11,186,783)
Total	264,422	4,592,149	4,856,571

Analysis of net assets between funds - prior	period
	Restricted	Unrestricted	Total
	funds	funds	funds
	2019	2019	2019
		E
Fixed asset investments	290,312	15,853,411	16,143,723
Current assets		122,474	122,474
Creditors due within one year		(11,291,712)	(11,291,712)
Total	290,312	4,684,173	4,974,485

						2020	2019
	Net income/expenditure for the		period	(as per Statement	of Financial
	Activities)					(104,364)	285,361
	Adjustments for:
	Dividends, interests	and rents from	investments			(467,987)	(550,223)
	Loss on the sale of	fixed assets				157,446	3,708
	Decrease in debtors						5,375
	Increase/(decrease)	in creditors				(104,929)	67,289
	Net cash used in operating activities					(519,834)	(188,490)
15.	Analysis ofcash and cash equivalents
						2020	2019
						E
	Cash in hand					165,341	122,474
	Cash held by investment managers					582,661	450,003
	Total cash and cash equivalents					748,002	572,477

										At 31
						At	1	January		December
								2020	Cash flows	2020
									E	F
								E
Cash	at	bank	and	in	hand			122,474	42,867	165,341
								122,474	42,867	165,341