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2021-03-31-accounts

Contents Page
Legal and Administrative Information
Report ofthe Trustees
Independent Auditors' Report 10-12
Statement
of		 Financial Activities 13
Balance Sheet 14
Cashflow Statement 15
Notes forming part ofthe Financial Statements 16-27

Unrestricted Restricted Total Total
Notes Funds Funds 2021 2020
Income:
Donations
and legacies		 21,461 21,461 26,391
Charitable
activities		 1,025,000 1,025,000 3,515
Investments 224,331 224,331 371,276
Rental income 60,228 1,859 62,087 70,519
Total income 306,020 1,026,859 1,332,879 471,701
Expenditure:
Raising Funds
Investment
management		 28,875 28,875 29,452
Property expenditure 32,119 32,119 65,145
Charitable
activities
Grants payable 617,420 885,583 1,503,003 331,866
Grant related support costs 74,555 74,555 45,099
Welfare and bad debt advice 14,637 14,637 16,795
Total expenditure 767,606 885,583 1,653,189 488,357
Operating
surplus/(deficit)		 before other
recognised
gains and losses		 (461,586) 141,276 (320,310) (16,656)
Transfers between
funds		 139,417 (139,417)
Other recognised
gains and		 losses:
Gains/(losses)
on listed investments
Realised gains/(losses) 11 157,234 157,234 219,962
Unrealised
gains/(losses)		 11 2,964,851 2,964,851 (2,006,474)
Gains/(losses)
on freehold property
Unrealised
gains/(losses)
Net movement
in funds for		 the year 2,799,916 1,859 2,801,775 (1,803,168)
Reconciliation
of funds
Total funds brought forward 15 10,568,704 41,384 10,610,088 12,413,256
Total funds carried forward 13,368,620 43,243 13,411,863 10,610,088

Balance Sheet a s at 31March 2021
Total Total
Notes 2021 2020
f
Fixed assets
Freehold
property		 10 1,700,000 1,700,000
Tangible assets 10 1 1
Investments:
Listed investments 10,956,352 8,371,354
12,656,353 10,071,355
Current assets
Debtors: amount falling due within one year 13 161,593 156,866
Debtors: amount falling due after more than one year 13 6,711 6,951
Cash at bank 651,795 456,353
820,099 620,170
Current
liabilities
Creditors; amounts falling due in one year 14 (64,589) (81,437)
Net current assets 755 510 538733
Total assets less current liabilities 13,411,863 10,610,088
Net assets 13,411,863 10,610,088
Funds
Unrestricted
funds
General
fund		 14 13,361,185 10,561,660
Designated
funds		 14 7,435 7,044
Restricted funds 14 43,243 41,384
Total funds 13,411,863 10,610,088

Cashf low Statement
Total Total
2021 2020
Cash used in operating
activities:
Net cash provided
by operating		 activities (565,975) (371,957)
Interest income 70 418
Dividend
income		 224,260 370,857
Purchase ofinvestments (517,287) (2,215,674)
Proceeds from sale of investments 1,054,374 2261393
Cash provided
by (used in) investing
activities		 761,417 416,994
Change
in cash and cash equivalents		 in the reporting period 195,442 45,037
Cash and cash equivalents
at the		 beginning ofthe year 456,353 411,316
Total cash and cash equivalents at the end ofthe year 651,795 456,353
Reconciliation
ofcash equivalents		 at the end ofthe year:
Cash at bank 637,170 399,940
Cash awaiting
investment		 14,624 56,413
651,795 456,353
Reconciliation
ofnet income to net		 cash flow from operating activities
Net (expenditure)/income
for the		 reporting period 2,801,775 (1,803,168)
Deduct interest
income shown		 in investing activities (70) (418.00)
Deduct dividend
income shown		 in investing activities (224,260) (370,857)
Add back losses on investments (3,122,085) 1,786,512
Decrease
in debtors		 (4,488) 6,088
Increase
in creditors		 (16,847) 9,886
Net cash provided
by/(used
in)		 operating activities (565,975) (371,957)

2 Donations
and legacies		 2021 2020
E E
The Combined
Theatrical		 Charities Appeals Council 25,000
Other unrestricted
donations		 21,461 1,391
21.461 26.391
Dft
t tl
4
f
d		 0 tl 4 dl 3 l E26391(2019526139( t
l t d		 dENll(2019:
ENil) was restricted.
3 Charitable
activities		 2021 2020
E E
Restricted
Grants:
The Arts Council 850,000
The Combined
Theatrical		 Appeals Council 80,000
Acting for Others 80,000
Audibles 15,000
1,025,000
The Arts Council awarded the Trust E850,000to distribute to those individuals working within the
industry
facing serious financial		 hardship. The Trust received E80,000grant funding
from The Combined
Theatrical
Appeals
Council		 and E80,000grant funding from Acting for Others. These grants were
designed to augment
the		 Trust's exisitng welfare grants giving programme to support the increased
applications
for financial		 assistance from those individuals facing servere financial
hardship		 caused by
the pandemic.
4 Investments 2021 2020
E E
Dividends
and interest receiveable		 from investments 224,260 370,858
Bank interest receivable 71 418
224332 371,276
Oftotal income from Investments E370,042 (2019:E408,117)was unrestricted and E816(2019(E874)
was restricted.
Of total income from property E68,660(2019;E62,452) was unrestricted and E1,859(2019:E1,859)was
restricted.
5 Grants payable 2021 2020
E E
Education
&training
grants		 to 66individuals (2020:58) 107,661 85,960
Welfare &benevolence
grants		 to 407 individuals (2020:170) 389,759 164,906
Education
grants to 1institution		 (2020( 2) 45,000 45,000
Theatrical
grants to 3institutions		 (2020:9) 75,000 31,000
John Fernauld
Award grants		 to Nil institutions (2020: Nil) 5,000
Arts Council grants to 694individuals (2020: Nil) 870,583
Audible
grants to 30individuals		 (2020: Nil) 15,000
1,5D3.003 331,$66
Grants made to institutions comprise:
Dancers' Career Development 45,000 45,000
Chipping
Norton Theatre		 1,000.00
Queens Theatre Hornchurch 5,000.00
interact 25,000 15,000
Exeter Northcote 5,000.00
Graeae Theatre 5,000,00
Theatre 502 - R Murrell 35,000 2,500.00
Benjamin
Gould		 2,500.00
Alnwick Theatre 15,000,00
12D,DOO $1,0D~

6 Reconciliation ofgrants payable 2021 2020
f E
Commitments at 1Apri! 2019 58,889 40,145
Commitments made
in the year		 1,503,003 331,866
Grants cancelled
and returned		 0
Grants payable for the year 1,503,003 331,866
Grants paid during the year (1,517,822) (313,122)
Commitments at 31March 2020 44,071 58,889
Commitments payable:
Within one year 44,071 58,889

Office support Total costs
7 Total expenditure Direct costs Staff costs costs 2021
f f f
Raising funds
Investment
management		 28,875 28,875
Investment
property		 13,472 10,138 8,509 32,119
Charitable
activities
Grants payable 1,503,003 1,503,003
Grant related support costs 54,123 20,432 74,556
Welfare and bad debt advice 4,524 10,113 14,637
1,545,350 68,785 39,054 1,653,189
Office support Total costs
Comparative
analysis		 Direct costs Staff costs costs 2020
f f f f
Raising funds
Investment
management		 29,452 29,452
investment
property		 29,785 12,228 23 132 65,145
Charitable
activities
Grants payable 331,866 331,866
Grant related support costs 0 30,043 15,056 45,099
Welfare and bad debt advice 7,655 3,900 5,240 16,795
398,758 46,171 43,428 488,357
Total costs Total costs
Analysis ofsupport costs 2021 2020
f
Professional
fees		 24,801 30,145
Audit fees 5,400 5,435
Copier, telephone
and		 printing 4,274 4,189
Other administration costs 1,829 2,879
Advertising 2,750 780
39,054 43,428

es formin g part ofthe Financial Statem ents
Governance costs 2021 2020
Governance costs include: f f
Staff costs 15,207 12,229
Other 2,411 5,435
Auditors
remuneration:
Audit fee 5,400 7,593
23,018 25,257

Three Trustees (2019:2)were
during the year (2019:f135)		 reimbursed
f382 for directly inc		 urred
out of pocket tra
9 Staff costs 2021 2020
E
Salaries 58,224 39,752
Social security costs 6,140 3,462
Pension costs 4,421 2,957
68,785 46,171
function wa s:
2021
Grant making, welfare and debt
advice 1 1
Governance and property manage( 1 1
2 2

Tangible fixed assets
2021 2020
Freehold property f
Market value at 1April 2019 1,700,000 1,700,000
Revaluation 0
IViarket value at 31IVlarch 2020 1,700,000 1,700,000
Historical cost representing
acquisition
and refurbishment		 1,845,534 1,845,534
expenditure

Furniture
and equipment		 Furniture
and equipment
2021 2020
f
Net book value
At 31March 2021
At 31March 2020
11 Fixed asset investments
2021 2020
Listed investments f f
Market value at 1 April 2019 8,371,354 10,203,585
Additions
at cost		 517,287 2,215,674
Disposal proceeds (1,054,374) (2,261,393)
Realised investment
gains/(losses)		 in the year 157,234 219,962
Unrealised
investment		 gains/(losses) in the year 2,964,851 (2,006,474)
Market value at 31March 2020 10,956,352 8,371,354
Cash awaiting
investment		 14,624 56,413
10,970,976 8,427,767
Historical cost 6,082,641 6,082,641
investments
at market		 value comprise:
Equity shares
UK		 7,805,072 5,710,177
Equity shares overseas 2,111,487 1,574,706
Fixed interest securities UK 822,793 759,781
Property
and alternative		 investments 217,000 326,690
10,956,352 8,371,354
12 Current asset: loan payable
on demand		 2021 2020
Included
within debtors		 (Note 12) is the following amount:- f
The Actors Professional Centre Limited 150,000 150,000

No tes formi ng par t of the Financial Statements
13 Debtors 2021 2020
The Actors Professional Centre Limited (Note 11) 150,000 150,000
Loans due from beneficiaries 7,230 6,951
Investment income due from Charles Stanley 9,804 5,636
Prepaid expenditure and accrued income 1,270 1,230
168,304 163,817
14 Creditors: amounts falling due within one year falling due within one year 2021 2020
f
Grant commitments (note 5) 44,071 58,889
Accrued expenditure & income received in advance 8,402 11,524
Other tax &social security 2,024 942
Rent deposit 10,092 10,082
64,589 81,437

Transfers
and Other
recognised
Incoming Resources gains/
Funds 2020 Resources Expended (losses) 2021
f f f f
Restricted funds
John Fernald Award 23,115 0 23,115
Sinking
Fund		 - Tenants 18,269 1,859 20,128
Way to Work 0
1,025,000 (885,583) (139,417)
41,384 1,026,859 (885,583) (139,417) 43,243
Unrestricted Funds
Accumulated General Fund 10,561,660 305,629 (767,606) 3,261,502 13,361,185
Designated
Charity		 Funds - Sinking Fund 7,044 391 7,435
10,568,704 306,020 (767,606) 3,261,502 13,368,620
Total funds 10,610,088 1,332,879 (1,653,189) 3,122,085 13,411,863
Comparative analysis:
Other
Incoming Resources recognised
2019 Resources Expended gains 2020
f f f f
Restricted funds
John Fernald Award 27,299 816 (5,000) - 23,115
Sinking
Fund		 - Tenants 16,410 1,859 18,269
Way to Work 0 3,515 (7,655.00) 4,140,00 0
43,710 6,190 (12,655) 4,140 41,384
Unrestricted Funds
Accumulated General Fund 12,362,894 465,120 (475,702) (1,790,652) 10,561,660
Designated
Charity		 Funds - Sinking Fund 6,653 391 7,044
12,369,546 465,511 (475,702) (1,790,652) 10,568,704
Total funds 12,413,256 471,701 (488,357) (1,786,512) 10,610,088

Analysis ofnet assets Analysis ofnet assets between total funds Unrestricted Restricted Total
funds funds 2021
Fund balances at 31March 2021 are represented by: f F
Fixed assets including freehold property 1,700,001 1,700,001
Listed investments 10,913,109 43,243 10,956,352
Loans: amounts
falling		 in due in more than one year 150,000 150,000
Cash at bank and in hand 651,795 651,795
Other net current liabilities (46,285) (46,285)
13,368,620 43,243 13,411,863
Comparative
analysis:
Unrestricted Restricted Total
funds funds 2020
Fund balances at 31March 2020 are represented by: f F.
Fixed assets including freehold
property		 1,700,001 1,700,001
Listed investments 8,329,970 41,384 8,371,354
Loans: amounts
falling		 in due in more than one year 150,000 150,000
Cash at bank and in hand 456,353 456,353
Other net current liabilities (67,620) (67,620)
10,568,704 41,384 10,610,088