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2022-03-27-accounts

Pages
Report ofthe Directors 2-15
Auditor's
report		 16-17
Group statement
offinancial		 activities 18
Group balance sheet 19
Company
balance sheet		 20
Group statement
ofcash flow		 21
Notes to the financial statements 22-41

Unrestricted Restricted Total Total
funds funds 2022 2021
Note E E
INCOME FROM:
Donations
and legacies		 4 453,152 2,089 455,241 3,624,894
Other Trading
activities		 1,120,546 1,120,546 15,453
Investments 5 25,446 25,446 41,457
Charitable
activities - show		 income 6 15,135,635 15,135,635 622,822
Total income 16,734,779 2,089 16,736,868 4.304,626
EXPENDITURE ON:
Raising Funds:
Fundraising
trading		 441,461 441,461 12,326
Sponsorship 1,610 1,610 17
Charitable
activities
-theatre
programmes		 7 15,462,227 31,782 15,494,009 5,149,843
—investment
in productions		 costs 7 126,000 126,000
-education
and outreach		 7 89,375 89,375 14,492
Total expenditure 16,120,673 31,782 16.152,455 5,176,678
Net income/(expenditure)
before gains
/ losses on		 for the period
investments		 614,106 (29,693) 584,413 (872,052)
Gain on investment
asset		 12 104,388 104,388 430,555
Net income /(expenditure) for the period 718,494 (29,693) 688,801 (441,497)
TOTAL FUNDS AT 28 March 2021 19 16,822,525 1,094,073 17,916,598
TOTAL FUNDS AT 27 March 2022 19 17,541,019 1,064,380 18,605,399

2022
Note
FIXEDASSETS
Tangible assets 11 12,786,904 13,119,118
Investments 12 2,049,483 2,195,095
14,836,387 15,314,213
CURRENT ASSETS
Stocks 34,143 24,401
Debtors 13 291,353 554,502
Cash holdings 24 18,769,783 13,303,844
19,095,279 13,882,747
CREDITORS: Amounts
falling		 due within one year 14 (15,165,729) (7,039,427)
NET CURRENT ASSETS/(LIABILITIES) 3,929,550 6,843,320
TOTAL ASSETSLESSCURRENT LIABILITIES 18,765,937 22,157,533
CREDITORS: amounts
falling		 due after more than one year 15 (160,538) (4,240,935)
NET ASSETS 18,605,399 17,916,598
ACCUMULATED
FUNDS
Restricted
Income		 funds
Capital grants 19 1,064,380 1,092,162
Building maintenance reserve 19
Fundraising
reserve		 19 1,911
Unrestricted
income		 funds
General reserve 19 8,398,067 7,160,404
Designated
building		 development reserve 19 5,765,138 6,193,963
Designated
gantry development		 building reserve 19 2,313,462 2,340,603
Designated
building		 maintenance reserve 19 1,014,352 1,076,363
Designated
education		 reserve 19
Designated
bursary		 reserve 19 50,000 50,000
Designated
fundraising		 reserve 19 1,192
TOTAL FUNDS 18,605,399 17,916,598

2022 2021
Note E
FIXEDASSETS
Tangible assets 11 12,786,904 13,119,118
Investments 12 2,049,487 2,195,099
14,836,391 15,314,217
CURRENT ASSETS
Stocks 6,433 6,396
Debtors 13 838,692 525,970
Cash holdings 24 18,067,727 13,182,304
18,912,852 13,714,670
CREDITORS: Amounts
falling		 due within one year 14 (15,089,604) (6,966,107)
NET CURRENT ASSETS/(LIABILITIES) 3,823,248 6,748,563
TOTAL ASSETSLESSCURRENT LIABILITIES 18,659,639 22,062,780
CREDITORS: amounts
falling		 due after more than one year 15 (160,538) (4,240,935)
NET ASSETS 19 18,499,101 17,821,845
ACCUMULATED
FUNDS
Restricted
income		 funds
Capital grants 19 1,064,380 1,092,162
Building maintenance reserve 19
Fundraising
reserve		 19 1,911
Unrestricted
income		 funds
General reserve 19 8,291,769 7,065,651
Designated
building		 development reserve 19 5,765,138 6,193,963
Designated
gantry development		 building reserve 19 2,313,462 2,340,603
Designated
building		 maintenance reserve 19 1,014,352 1,076,363
Designated
education		 reserve 19
Designated
bursary		 reserve 19 50,000 50,000
Designated
fundraising		 reserve 19 1,192
TOTAL FUNDS 18,499,101 17,821,845

2022 2021
Note
CASH FLOWS FROM OPERATING ACTIVITIES 5,777,974 (1,105,703)
CASH FLOWS FROM INVESTING ACTIVITIES
Interest received 5 22,726 41,457
Purchase
oftangible
fixed assets		 11 (585,061) (182,720)
Proceeds from the sale offixed assets 300
MANAGEMENT
OF LIQUID RESOURCES
Decrease
in short term deposits		 12 250,000 200,000
CHANGE
IN CASH AND CASH EQUIVALENTS
IN THE REPORTING PERIOD 24 5.465,939 (1,046,966)
RECONCILIATION
OF NET CASH FLOW TO
MOVEMENT
IN CASH AND INVESTMENTS
Increase
in cash in the year		 5,465,939 (1,046,966)
Change
in market value offixed asset
investments 12 104,388 430,555
Cashflow from decrease
in liquid resources		 12 (250,000) (200,000)
MOVEMENT
IN CASH AND INVESTMENTS
FOR THE PERIOD 5,320,327 (816,411)
Net cash and investments
at the start ofthe
period 15,498,938 16,315,349
NET CASH ANO INVESTMENTS AT END OF
PERIOD 20,819,265 15,498,938

Leasehold
buildings		 over the life ofthe lease over the life ofthe lease
Plant and machinery 5to 20 years straight line
Fixtures and fittings 3to 25years straight line
Computers
and communications		 3to 10years straight line
Leased assets (other than buildings) over the life ofthe lease
Motor vehicles 3years straight
line

4. DONATIONS
AND LEGACIES		 DONATIONS
AND LEGACIES
2022 2021
Culture Recovery Fund 300,000 2,700,000
Coronavirus
Job Retention		 Scheme 98,568 686,700
National
Lottery Fund		 164,745
Loan Interest Grant —MEL 990
Other Donations 56,673 72,459
455,241 3,624,894
5. INVESTMENT INCOME
2022 2021
F
Bank interest receivable 22,726 41,457
Investment
returns		 2,720
25,446 41,457
6. INCOME FROM CHARITABLE ACTIVITIES
2022 2021
E
Ticket sales and auditorium fees 13,025,604 97,201
Booking fee 990,529 5,393
Miscellaneous
income		 783,771 516,818
Restoration
levy		 335,731 3,410
15,135,635 622,822

ANALYSIS O F EXPENDITURE
Support costs
Direct Other support Governance
costs costs costs Total
2022 2022 2022 2022
E
Raising funds;
-fundraising trading 441,461 441,461
-sponsorship 1,610 1,610
Charitable
activities:
-theatre programmes 14,083,284 1,377,735 32,990 15,494,009
- investment in productions 126,000 126,000
-education and outreach 89,375 89,375
14,741,730 1,377,735 32,990 16,152,455
Support costs
Other support Governance
Direct costs costs costs Total
2021 2021 2021 2021
F E
Raising funds:
—fundraising trading 12,931 12,931
-sponsorship 17 17
Charitable activities:
-theatre programmes 3,847,967 1,279,181 22,090 5,149,238
-education and outreach 14,492 14,492
3,875,407 1,279,181 22,090 5,176,678

?. ANALYSIS OF EXPEN DITU RE ( continued) Note
2022 2021
Support costs consist ofthe following. E E
Other staff costs 71,419 20,778
Finance 4,841 3,593
Establishment 400,745 344,977
Depreciation 900,730 909,833
Governance 32,990 22.090
1,410,725 1,301,271
Governance
costs consist ofthe following:
Auditor's
remuneration		 (Excluding VAT) 12,500 12,000
Auditor's
remuneration		 —Other Group Entities (Excluding VAT) 9,880 6,245
Other professional
fees		 10,610 3,845
32,990 22,090
8. NET MOVEMENT
IN FUNDS
2022 2021
This is stated after charging: f
Auditors'
remuneration.		 audit 12,500 12,000
Auditors'
remuneration:		 other group entities 9,880 6,245
Auditors'
remuneration;		 non-audit
fees		 10,610 4,450
Depreciation
ofowned		 fixed assets 900,730 909,833
Operating
lease rentals		 —land and buildings 4,488 4,488
Loss on disposal of fixed assets 16,245 62,655
9. STAFF COSTS
2022 2021
P
Wages and salaries 2,657,405 2,721,683
Social security costs 250,547 205,561
Other pension costs 194,798 193,616
Redundancy
and termination		 payments 23,075 52,927
Staff costs charged to expenditure 3,125,825 3,173,787
Coronavirus
Job Retention Scheme (disclosed as income)		 (98,568) (686,700)
Staff costs net ofCoronavirus Job Retention Scheme income 3,027,257 2,487,087

2022 2021
Number FTE Number FTE
Leadership team 21 19 19 18
Other staff 189 102 160 83
210 121 179 101
he number ofemploye es
whose		 emolument s
amounted
to over F6		 0,000 in the period was as fol lows
2022 2021
Number Number
260,001 —670,000
f70,001 —f80,000
f100,001 - 2120,000
f120,001 - 2130,000
8170,001 - 8180,000
E
Pension contributions to higher paid employees 82,447 45,908
Number of higher paid employees receiving pension
contributions

NET INCOME FROM TRADING ACTIVITIES ACTIVITIES OF SUBSIDIARIES OF SUBSIDIARIES
Mayflower
Enterprises
Limited		 2022 2021
R P
Turnover 1,062,645 15,431
Net operating
expenses		 (360,638) (15,022)
Management
charge and booking		 fee (534,063)
Government
grants		 990
Operating
profit		 167,944 1,399
Interest receivable
and similar income		 223 854
Interest payable
and expenses		 (445) (990)
Profit on ordinary
activities after taxation		 167,722 1,263
Distribution
to The Mayflower Theatre Trust		 (167,722)
Net movement
in funds		 1,263
Iftransactions
with The Mayflower		 Theatre Trust were excluded:
Amount
gifted to The Mayflower Theatre
trading
activities		 Trust In respect ofcurrent year 167,722
Management
and booking fee		 534,063
Profit brought
into consolidated
accounts
be:		 relating to 'external' trading would 701,785 1,263
Capital and reserves of Mayflower Enterprises Limited 21,536 21,536
Mayflower
Productions
(Southampton)		 Limited 2022 2021
E
Turnover 127,400 1,750
Net operating
expenses		 (133,856) (7,999)
Operating
profit		 (6,456) (6,249)
Theatre tax credit 17,995
Interest receivable
and similar income		 6 22
Profit on ordinary
activities after taxation		 11,545 (6,227)
Profit relating to 'external'
trading:		 11,545 (6,227)
Capital and reserves of Mayflower Productions (Southampton) Ltd 84,765 73,220

Long
leasehold Fixtures
land and Plant and and Motor
buildings machinery fittings vehicles Total
F
Cost:
At 29 March 2021 10,707,647 4,548,171 5,073,803 9,736 20,339,357
Additions 113,647 476,259 (4,845) 585,061
Disposals (63,081) (63,081)
At 27 March 2022 10,821,294 4,961,349 5,068,958 9,736 20,861,337
Depreciation:
At 29 March 2021 2,401,677 2,621,132 2,187,694 9,736 7,220,239
Provided
during the period		 197,769 314,364 388,598 900,730
Disposals (46,536) (46,536)
At 27 March 2022 2,599,446 2,888,960 2,576,292 9,736 8,074,434
Net book value..
At 27 March 2022 8,221,848 2,072,388 2,492,666 12,786,904
At 29 March 2021 8,305,970 1,927,039 2,886,109 13,119,118

Group Company
2022 2021 2022 2021
Carrying value as at 29 March 2021 2,195,095 1,964,540 2,195,099 1,964,544
Disposals (250,000) (200,000) (250,000) (200,000)
Net gain/(loss) on revaluation 104,388 430,555 104,388 430,555
Carrying value as at 27 March 2022 2,049,483 2,195,095 2,049,487 2,195,099

DEBTORS
Group Company
2022 2021 2022 2021
Amounts
owed by group		 undertakings 583,821 (607)
Trade debtors 4,532 95,655 4,532 95,655
Other debtors 72,867 281,668 39,905 255,954
Prepayments
and accrued income		 213,954 177,179 210,434 174,968
291,353 554,502 838,692 525,970
CREDITORS: amounts falling due within one year
Group Company
2022 2021 2022 2021
E E E
Trade creditors 2,663,044 109,698 2,633,989 106,451
Other taxes and social security 170,728 53,779 170,728 53,779
Other creditors 78,371 73,593 60,487 12,667
Accruals and deferred income (see
note 15) 12,253,586 6,802,357 12,224,400 6,793,210
15,165,729 7,039,427 15,089,604 6,966,107

Group Company Company
2022 2021 2022 2021
E F
Deferred income brought forward 11,043,292 11,670,943 11,034,145 11,583,517
Amounts released to income
in the period		 (6,462,311) (136,720) (6,453,164) (136,720)
Amounts deferred in the period 7,810,606 (490,931) 7,796,566 (412,652)
Deferred income carried forward 12,391,587 11,043,292 12,377,547 11,034,145

Unrestricted Unrestricted
General
accumulated Designated Restricted
fund funds fund Total
2022 2022 2022 2022
E E E E
Group —2022
Fixed assets 4,679,055 9,092,952 1,064,380 14,836,387
Current assets 19,045,279 50,000 19,095,279
Current liabilities (15,165,729) (15,165,729)
Non-current liabilities (160,538) (160,538)
8,398,067 9,142,952 1,064,380 18,605,399
Company
-		 2022
Fixed assets 4,679,059 9,092,952 1,064,380 14,836,391
Current assets 18,862,852 50,000 18,912,852
Current liabilities (15,089,604) (15,089,604)
Non-current liabilities (160,538) (160,538)
8,291,769 9,142,952 1,064,380 18,499,101
Unrestricted
General
accumulated Designated Restricted
fund funds fund Total
2021 2021 2021 2021
F F
Group —2021
Fixed assets 4,611,122 9,610,929 1,092,162 15,314,213
Current assets 13,829,644 51,192 1,911 13,882,147
Current liabilities (7,039,427) (7,039,427)
Non-current liabilities (4,240,935) (4,240,935)
7,160,404 9,662,121 1,094,073 17,916,598
Company - 2021
Fixed assets 4,611,126 9,610,929 1,092,162 15,314,217
Current assets 13,661,567 51,192 1,911 13,714,670
Current liabilities (6,966,107) (6,966,107)
Non-current liabilities (4,240,935) (4,240,935)
7,065,651 9,662,121 1,094,073 17,821,845

ANALYSIS OF NET ASSETS BET
Free Reserves		 ANALYSIS OF NET ASSETS BET
Free Reserves		 ANALYSIS OF NET ASSETS BET
Free Reserves		 ANALYSIS OF NET ASSETS BET
Free Reserves		 WEEN FUNDS (continued) WEEN FUNDS (continued) WEEN FUNDS (continued) WEEN FUNDS (continued)
The free reserves ofthe Trust stand at F3,719,012as at the period ended 27 March 2022. This figure is made
up of:
2022 2021
F F
Unrestricted general (undesignated) funds 8,398,067 7,160,404
Less fixed assets held in general undesignated funds (4,679,055) (4,611,122)
3,719,012 2,549,282
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t the period-end,
the		 Group had an nual
commitments
under non-cance		 llable
operating
leases as follows:		 llable
operating
leases as follows:
Plant 8 Machinery
2022 2021
F
Expiry date:
& 1 year 4,488 4,488
2 —5years 4,488 8,976
APITAL COMMITMENTS
here were no capital commitments at the 2022 period end.
ET CASH INFLOW FROM OPERATING ACTIVITIES
2022 2021
F
Net income 688,801 (441,497)
Interest receivable (22,726) (41,457)
Depreciation 900,730 909,833
Decrease
/ (increase)		 in debtors 263,149 (153,734)
(Decrease) / increase in creditors 4,045,905 (1,008,639)
Decrease
/ (increase)		 in stock (9,742) (2,309)
Loss / (gain) on investment assets (104,388) (430,555)
Loss on disposal of fixed assets 16,245 62,655
5,777,974 (1,105,703)

ANAL YSI S OF CHA NGES IN NET D EBT
At 29 March Other non- At 27 March
2021 Cash flows Cash changes 2022
E E E
Cash 13,303,844 5,465,939 18,769,783
13,303,844 5,465,939 18,769,783
Loans due within one year 2,778 (2,778)
Loans due after more than one year 47,222 (47,222)
13,353,844 5,415,939 18,769,783

26.
COMPARATIVE		 STATEMENT OF FINANCIAL ACTIVITY STATEMENT OF FINANCIAL ACTIVITY STATEMENT OF FINANCIAL ACTIVITY STATEMENT OF FINANCIAL ACTIVITY
Unrestricted Restricted Total
funds funds 2021
INCOME AND ENDOWMENTS FROM:
Donations
and legacies		 3,622,614 2,280 3,624,894
Other Trading activities 15,453 15,453
Investments 41,457 41,457
Charitable
activities
—show		 income 622,822 622,822
Total income 4,302,346 2,280 4,304,626
EXPENDITURE ON:
Raising Funds:
Fundraising
trading		 12,326 12,326
Sponsorship 17 17
Charitable
activities
-theatre programmes 5,113,246 36,597 5,149,843
-education
and outreach		 14,492 14,492
Total expenditure 5,140,081 36,597 5,176,678
Net income/(expenditure) for the period
before gains
/ losses on		 investments (837,735) (34,317) (872,052)
Gain/(loss)
on investment		 asset 430,555 430,555
Net income /(expenditure) for the period (407,180) (34,317) (441,497)
TOTAL FUNDS AT 30 MARCH 2020 17,229,705 1,128,390 18,358,095
TOTAL FUNDS AT 28 MARCH 2021 16,822,525 1,094,073 17,916,598

Unrestricted Restricted Total Total
funds funds 2022 2021
E E E
INCOME AND ENDOWMENTS FROM
Donations
and Legacies		 453,152 2,089 455,241 3,623,904
Other Trading
activities		 167,722 167,722
Investments 25,223 25,223 40,603
Charitable
activities		 - show income 15,708,641 15,708,641 622,822
Total Income 16,354,738 2,089 16,356,827 4,287,329
EXPENDITURE ON
Raising funds - sponsorship 1,610 1,610 17
Charitable
activities
—theatre programmes 15,447,692 31,782 15,479,474 5,139,909
-investment
cost		 126,000 126,000
-education
and outreach		 176,875 176,875 14,492
Total expenditure 15,752,177 31,782 15,783,959 5,154,418
Net income/(expenditure) for the period
before gains/losses on investments 602,561 (29,693) 572,868 (867,089)
Gain on investment asset 104,388 104,388 430,555
Net income/(expenditure) for the
period 706,949 (29,693) 677,256 (436,534)
TOTAL FUNDS AT 29 March 2021 16,727,772 1,094,073 17,821,845 18,258,379
TOTAL FUNDS AT 27 March 2022 17,434,721 1,064,380 18,499,101 17,821,845