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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||||||
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||||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|
##
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|||||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|
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||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||
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||||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||
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||||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||
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|||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|
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||||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|
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||||||||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|
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|||||||||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|
##
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|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|
##
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|||||||||||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|
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