Charlty registratlon number 501935 Company reglstrntlon number 01077617 (England and Wales) DUKES PLAY HOUSE LIMITED (THE) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
DUKES PLAY HOUSE LIMITED (THE) LEGAL AND ADMINISTRATIVE INFORMATION Trustees R Gauld T J Booker M J Collins G E Murphy W P Bancroft S Chadwick AECOX S Thomberry Secretsry C Lawson Charity number 501935 Company number 01077517 Prfnclpal address The Dukes Moor Lane Lancaster United Klngdom LA1 1QE R•g1St•r offlce The Dukes Moor Lane Lancaster Unfted 'rjd0rn L41 1QE Audltor 2ets Audit Services Fleet House New Road Lanoster Unit8d Kingdom LA1 1EZ Bankers Natvvest Bank 68 Church Street Lancaster United Kingdom L411LN Solicitors Holdens 2 Castle Hill Lancaster United Kingdom LA1 1YR
DUKES PLAY HOUSE LIMITED (THE) CONTENTS Page Trustees, report Statement of trustees. responsibilities Independent auditor's report 8-10 Statement of finandal activities Balance sheet 13 Statement of cash flows 14 Notes to the financial statements 15-31
DUKES PLAY HOUSE LIMITED (THE) TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT FOR THE YEAR ENDED 31 MARCH 2024 REPORTTO THE COMMIThEE OF MANAGEMANT FOR THE YEAR ENDED 31 MARCH 2024 The commlttee of management, who are directors of the company and truste88 of the charity, present their annual report on the affairs of the charity, together with the financial ststements and audltors, report for the year ended 31 March 2024. This port has been prepared in accordance 1th the provisions applicable to small cOmnieS entiued to the Small companies, exemption. Structure, governance, and management Dukes Play House Limlted {The) (referred to either as 'The Dukes Playhouse" or "The Dukes" throug1Ut these financial statements) is a company limited by guarantee incorporated under the Companies Act under company no. 1077517 and is governed by the Memor8ndum and Artides of Association dated 19th October 1972 88 amended dated 21 January 1999, 6 September 2005, 7th November 2017. 18th October 2018 and 21st November 2022. The company Is also a registered charity, charity no. 501935 and operates on 8 not-for-profit basis. Its registered office is The Dukes Playhouse Ltd, Mcor Lane. L8ncaster. LA1 1 QE. Its princip81 operating address is The Dukes, Moor Lane, Lancaster, LA1 1 QE. The company is governed by the Board of Trustees fBoardl 8$ Directors of the company. Board members a appK)inted by the committee by simple majority. There are a maximum of 12 Trustees who may serve a maximum temi of 4 years and then reappointment for 4 years. All are independently appointed members. Representatives of the major funders ar8 invited to attend Board meetings. The regular Lycle of Six fonnal m88tings was maintained with an addltlonal slx subcommittee meetirys to oversee Finance. The Board is responsible for the overall policy and scrutiny of the financial perfomianc8 of the organisation. The Board ensures the accountability to key fund8r8 and stakeholders and the appointment of the DirectorlCEO and pay and remunerab'on of the DirectorlCEO. The day-tOThday management of the company is delegated by the Board to the Director overseeing the senior management team of Head of Finance, Head of Marketing & Sales, Head of Creative Communities, Head of Fllm, Head of Technical & Production, Talent Development and Programme Manager and Head of Visitor Experience. Objectlves and actlvltias Revlew of the Year The Dukes, Mlsslon To bring the best in live performance and cinema to th8 communities of Lancashire in our venue and other spaces. To create and actively support the opportunities for communltles, individuals. and artists to develop their own creative work and Its delivery. The Dukes, Vlslon The Dukes creates and present8 a div8r88 collection of storytelling through a range of art fomis that delivers excellence. inspiration, and challenge. The Dukes is a catalyst for communities. individual8, and artists to develop their own ueativity and practice. The Dukes is a place of cultural leadership and imaginative conversation.
DUKES PLAY HOUSE LIMITED (THE) TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achlevements and performance Artistic and Audience Development The Dukes continues to develop its artistic programme and grow audiences through our own programmes and partnership working. Our key achievements over the last financial year include.. Welcoming over 70k audiences to film or a live performance both at the Dukes and off-site events across Lancaster and Morecambe. Our perfonnance programme saw a total of 1,213 events. Our Play in the Park show saw audiences totsling 9.888 with 40% being visitors from outside the dislrict. Co-dellvered Llght Up Lancaster in p8rtnershlp wlth Lancaster BID and Lancaster Clty Coundl which brought intemational artists to Lancaster. Continuing tmo new film festivals, Dark Dukes and Green Screen with audiences of over 5,500 enjoying films, workshops, talks and themed activities. We partnered with the BFI to offer film makers opportunities. Sunset Screenings returned to Williamson Park with total audiences exceeding 1,000. Launching our first Family Fest. with workshops and family screenings over two eks. Our new cinema programmes including food and film. film quiz, film talks and continued to work with LA1 Shorts film festival. Blast Fest our new work festival supporting North INest based artists was launched and commissioned 6 artists to create new work. Over 130 people attended a free sharing at the Dukes. Lancaster Playwriting Prize in partnership with Lancaster University had saw entries from 2 age categories under 18, winners received prizes valued at £1500 and sharings of their work by professional actors. Partnering with our first Creative Collaborator cornpany One Tenth Human as a part of an 18-month support programme. Supporting 30 artists locally with space for R&D and exhibitions space free of charge. This year saw our best attended Christmas Production - A Christmas Carol, with audiences totaling 13628 across 55 perfomiances. It also saw the show well received by audiences and critics alike, with praise for innovative set design 8nd exc8I18nt storytelling.
DUKES PLAY HOUSE LIMITED (THE) TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The Dukes is an audlence focused organisation. making the arts and creativity available and aCCble to all members of our community. and dev81oping a diverse and highly engaged audien base. INe achieve this through long-tenn committed community engagement, and strategic marketing communications, and creating a range of access points for people to take a joumey V¥ith us from participating in a session, through to attending a film or show, through to creating VK•rk. We are working to reach deeper into our communities and position the Dukes as a key cultural asset and talent hub for Lancasterlmorecambe. In 23r24 we: Supported young people to explore creative careers in partnership with Lancaster Universty through our MAKE programme and Memorandum of Agreement completing paid and volunteer intemships, placements, and yearlong programme. Many have now gone on to secure full time roles in the creative sector, education. the third sector and business. Welcomed 64 schools to performantss and clnema at the Dukes. Had 13,000 partiapations across 430 Creative Communities sessions induding young carers, older people, schools. students and young people across Lancaster and Morecambe. Continued our successful partnership with Lancaster City Council and Arts Councll England as core funders. Secured funding for 3 years for Prime Time, our working with older people. Delivered 40 weekly Young Company workshops for over 90 local young people (aged 8-21). Staged a Youth Theatre production of The Dream Collector involving around 50 young people (aged 8-18) perfomiing to around 220 audience members includlng an invited dress rehearsal for vulnerable communities includlng young carers, S.E.N pupils and older p80ple with health issues. 64 schools attended our production of 'A Christmas Carol, this winter.
DUKES PLAY HOUSE LIMITED (THE) TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Financlal review Organlsatlonal Development We experienced an imF(rtant change in leadership durlng the year. with Karen O'Neill stepping down as Chief ExecutivelDirector in November 2023. to take up the role of Executive Director at HOME in Manchester. Karen guided the organisation through a challenging period induding the pandemic and Ive are grateful for her strong and dedicated leadership during this time. Karen was suReded in January 2024 by Chris Lawson. Chris joined the organisation after leadership roles at the Almeida Theatre in London, Oldham Collseum, and Traverse Theatre in Edinburgh. We also welcomed new trustees who brought a range of skllls In education, local government. technology, theatre direction, research and public health. As ever, V are grateful to our retiring trustees who have ccntributed enomiously to the organisation. This was also the first year of our streamlined govemance, with the trustees also appointed as the members of the charlty. Our thanks to the retired members who similarly gave their time and commitment to the Dukes. The advent of the Eden Project in the comirKJ years is an important moment to strengthen the city's attractiveness for visitors. In 2023124, we began an ongoing pross looklng at options for renewing and modernising the Dukes buildings, which are currently leased from Lancaster City Council. We want to improve our customer experience, access for people with disabilities. reduce our environmental perfomance, and ensure a resilient and vibrant cultural ntre for fijture. Vle look forward to playing a meaningfvl role in the district's visitor and cultural offer as vital attraction for local people as well as growing numbers of visitors to the dlstrlct. Vve enjoy a very positive retationship with our stskeholders, Lancaster University, Arts Council Ergland, and Lancaster Cty Council. iVe value their support and partlcularly the ongoing financial backing the Ccxjncil provides despite the constralnts on local authorFty financs. The trustees are very grateful to the staff team, whose energy and abilities underpin our achievements. We are also grateful to our dedicated volunteers for their vital work.
DUKES PLAY HOUSE LIMITED (THE) TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Structure* governance and management The Year Ahead The Duke5 is looking forward to 2024125 and beyond with a renewed sense of focus and determination to move forward. Vle are renewing our programming model with even more opportunitie5 for audiences to experience the best in touring theatre, build on the sUc$S of our film festivals and screenings, and further embed our work with local communities and the creative sector. Recognising the challenges in sustsining and growing audiences, we are confident that our refreshed programming model will allow us to build even more audience loyalty whilst operating even more efficiently. Trustse Inductlon and Tralning All Trustees are given a complete welcome pack including information on the Organisational Plan, information of the Trust's work and achievements, copies of the Artides of Association, key organisational policies. Charity Commission - The Essential Trustee- What You Need To Know and a skill and contact audit. All Trustees are invited to meet the Director and have a tour of the building. Risk Management The trustees have documented processes in place for review and manage risk, including Scrutiny by the Finance and Audit Committee. These include clearly delegated Financial Authorities, Buslness Continuity Planning, and finanaal reporting. A regular risk assessment is carried out by the board with actions to mitigate risks. The major risks facing the Dukes are: Finance - the prevailing economic climate and rlslng operatlng costs mean that the Dukes needs to grow eamed income beyond current levels, arKI focus on profftability in the ooming y8ars. We recognise that neither local or national funding for culture is likely to increase. The charfty holds cash reserves but cannot continue to operate with a trading deficit. Buildings - the need to improve our premises and the experience for all bulldlng users, whilst inL7easing financial opportunities and reducing environmental impact. Capacity and capability - the stsff team is lean and delivers a high output and that Investment in training and professional development has been limited in recent years. We need to ensure we have the resour8 and skills to achieve our ambitions. Invèstment powers The Trustees have wide powers of Investment within the constitution. Reserves policy The Trustees aspire to retain 12 weeks operating costs in resee. The trustees who served during the year and up to the date of slgnature of the flnancial ststements were: N J Townsend (Resigned 16 October 2024) R Gauld T J Booker D Rigby M J Collins G E Murphy W P Bancroft S Chadwick AECOX S Thomberry (Resigned 18 July 2023) (Appointed 23 May 2023) (Appointed 23 May 2023) (Appointed 23 May 2023) (Appointed 19 September 2023) Audltor In acKordance with the company's articles, a resolution proposing that kets Audit Seryices be reappointed as auditor of the company will be put at a General Meetlng.
DUKES PLAY HOUSE LIMITED (THE) TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Dtsd05ure of Informatlon to audltor EaGh rl the trustees ha5 confimed that there is N) 1rrfomwt1L of which they are aware whSth is relevant lo the auth( but of whith the 8rtor is unaware. They have futhw <xmfirmed that they have taken approprlate steps to identlfy 8LKh relevant information and to e8tablish that the audllor Is aware of suGh Inftirmation. R Gauld Chalr 12 December 2024
DUKES PLAY HOUSE LIMITED (THE) STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The trustees. vtho are also the directors of Dukes Play House Limited (The) for the purpose of company law, are responsible for preparing the Trustee5' Report and the financial statements in accordance with applicable law and United "ngdorn Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resoUrS and application of resour5, including the income and 8xpenditur8, of the charitable company for that year. In preparing these financial slatements, the trustees are required to: select suitable accounting policies and then apply them CnSIstenI1y. - obseNe the methods and principles in the Charities SORP" - make judgement8 and estimates that are reasonable and pruden( and prepare the financial statements on the going COnM basis unless it is inappropriate to presuwe that the charity will continue in operation. The trustees are responsible for keeping adequate accountlng records that disdose with reasonab18 accuracy at any time the financial position of the charity and erk3ble them to ensure that the financial statements comply viith ttr Companies Act 2006. They ar8 also responsible for safeguarding the assets of the charity and hence for tsking reasable steps for the preventlon and detection of fraud and other irregularities.
DUKES PLAY HOUSE LIMITED (THE) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF DUKES PLAY HOUSE LIMITED (THE) Opinlon We have audited the financial statements of Dukes Play House Limited (The) (the 'charity'} for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting frarnework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, induding Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Iland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements= give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, induding its income and expenditure. for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practi. and have been prepared in accordan with the requirements of the Companies Act 2006. Basls lor oplnlon We conducted our audit in accordance with Intemational Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in ihe Auditorfs Trsponslbilities for the audit ol the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is suffident and appropriate to provide a basis for our opinion. Concluslons relatlng to golng concorn In auditing the financial statements, we have concluded that the trustees, use of the going con basis of accountlng in the preparation of the financial statements is appropriate. Based on the work we have performed. we have not identified any material uncertainties relating to events or conditions that. individually or collectively, may cast slgnificant doubt on the charity's ability to continue as a going concem for a pertod of at least e1ve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilrties of the trustees with resped to going concem are descrlbed in the relevant seciions of this report. Other Inforniation The other information comprises the information induded in the annual report other than the fina[la1 statements and our auditols report thereon. The trustees are responsible for the other information contained wthin the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any fomi of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materialty inconsistent with the financial statements or our knowledge obtained in the course of the audit, or othewise appears to be materially mi5Stated. If we identify such material inconsistencies or apparent material misstatements, Y are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other inft)rmation, we are required to report that fact. Vle have nothing to report in this regard. Oplnlons on other matters preserlbed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of our audit: the infomiation given in the trustees, rewrt for the financial year for which the financial statements are prepared, which indudes the directors, report prepared for the purposes of company law, is conslstent with the financial statements,. and the directors, report included within the trustees, report has been prepar8d in accordance with applicable legal requlrements.
DUKES PLAY HOUSE LIMITED (THE) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF DUKES PLAY HOUSE LIMITED (THE) Matters on whlch we are required to report by exceptlon In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit. we have not identified material misstatements in the directors, report included within the trustees, report. Ne have nothing to report in respect of the following matters in relation to which the Companies Act 20CE requires us to report to you if, in our opinion: adequate accounting records have not been kept, or retums adequate for our audit have not been received from branches not visited by us: or the financial statements are not in agreement 1th the accounting records and returns" or certain disclosures of trustees, remuneration specified by law are not made; or have not received all the infomiation and explanations we require for our audit; or the trustees Vre not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemptions in preparing the trustees, report and from the requirement to prepare a strategic report. Responslbllltles of trustees As explained rn0 ful in the statement of trustees, responsibilities, the trustees, who are a180 the directors of the charty for the purpose of company law, are responsible for the preparation of the financial statements and for belng satisfied that they give a true and fair view. and for such intemal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, vrfhether due to fraud or error. In preparing the financial ststements, the trustees are responsible for assessing the charitys ability to continue as a going concem, disclosing, as applicable. matters related to going concem and using the going concem basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations. or have no realists"c alternative but to do so. Auditor's responsibilitles for the audlt of the flnanclal ststements Our objectives are to obtain reasonable assuran about Nthether the financial statements as a whole are free frorn material misstatement. whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material rf, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users tsken on the basis of these financial statements. A further description of our resFonsibilities is available on the Financial Reporting Council's website at.. https:11 V4+VM.frc.org.uklauditorsresponsibilities. This deription fomis part of our auditorfs report.
DUKES PLAY HOUSE LIMITED (THE) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF DUKES PLAY HOUSE LIMITED (THE) Extent to whlch the audlt was considered ¢apabb of detectlng irregularltles, includlng fraud Irregulaiities. includlng fraud. are instances of non•compliance withlaws and regulations. We design kyocedures in line viith our responsibilities, ouuined above and on the Financial Reporting Council's webslte, to detect material misstatements fn respect of irregulartties. induding fraud. We obtsin and update our understsnding of the entlty, its activities, its control environment. and Ilkely future developments, includlng in relation to ltr legal and regulatory framework applicable and how the entity is complying wilh that framewoth. Based on this understanding, we identify and assess the risks of material mlsststement of the flnancial statoments, whether due to fraud or error. design and perfomi audit procedures responsive to those rlsks. and obtain audit evidence that is sufficient and approkyiate to provlde a basi8 for our oplnlon. This includes conslderation of the risk of acts by the entity that were contrary to appli(3ble laws and regulations. induding fraud. In response to the risk of irreguLaritles and rK)n-compliance with18ws and regulatlons, includirKJ fraud. we designed procedures which induded: Enquiry of management and those charged with governan around actual and potential litigation and daims as well as actual. suspected and alleged fraud. Reviewlng minutes of meetings of those charged with govemance,. Assessing the extent of compliance wmh the laws and reguktions considered to have a direct material effect on the financial statements or the operations of the entity through ewuiry and inspection: Reviewing financlal statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations. Performirg audit work over the risk of management bias and override of controls, induding testing of joumal entries and other 8djustm8nts for appropriateness, evaluats'ng the business rationale of significant transactions outside the rrffla1 course of business and reviewing accounting estimates for indicators of potential bias. Because of the inherent limitatlons of an audit, there Is a risk that we will not detect all irregularities, Induding those leading to a material misstatement in the financial statements or non*compliance with regujation. This rlsk increases the more that compliance th a law or regulation is removed from the events and transactions reflected in th8 financial statements, as we will be bss likety to become aware of instances of noTrcompliance. The rfsk of not detecting a material misstatement resulting from fraud is higher than for one resutting from error, as fraud may involve collusion, forgery, intentional omissions, misrepyesentatlons, or the override of intemal control. Use of our report This report is made solely to the charitsble cornpanls members, as a body, in accordan with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might stste to the ¢haritalJe Companys members those matters VIP are required to state to them in an audito¢s report and for no other purpose. To the fullest extent pemiitted by law, we do t accept or assume responsiblllty to anyone other than the charitable company and charitable companls members as a body, for our audit for thls report, or forlhe opinions we have fom)ed. fiv) Ico/J Susanna Cassey Isenlor Stalutory Auditor) for and on behalf of Azets Audlt Servlces ..2o..C&' 21 Chartored Accountsnts Statutory Audltor Fleet House New Road Lancaster Unlted Kingdom LA1 1EZ 10-
DUKES PLAY HOUSE LIMITED (THE) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Current financlal year Unréstricted Restrlcted funds funds 2024 2024 Total Totsl 2024 2023 Notes Income and endowments from: Donations and legacies Charitable activities Other trading activities Investments Other income 316,451 1.135,950 145.943 8.373 128.475 11.780 38,887 328,231 1,174,837 145.943 8.373 128,475 292,422 1.145,243 138,873 2,902 97,367 Total income 1,735,192 50,667 1,785,859 1,676,807 Raising funds 166,697 166,697 146,590 Charitable activities 1.577,432 12,813 1,590,245 1,443.680 Other expenditure 12 76,549 76,549 71,589 Totsl expenditure 1.820.678 12,813 1,833,491 1,661,859 Net (outgolnglllncoming resources before transfe (85.486) 37,854 (47,632) 14.948 Gross transfers betw88n funds 9,691 (9,691) Net (expendlture}Ilncom• for the yearl Net movement in funds 175,795) 28,163 (47,632) 14,948 FurKI balances at 1 April 2023 647.138 1,943 649,081 634,133 Fund balances at 31 March 2024 571.343 30,106 601,449 649,081 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditur8 derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account underthe CompaniesA¢t 2006. 11
DUKES PLAY HOUSE LIMITED (THE) STATEMENT OF FINANCIALACTIVITIES (CONTINUED INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Prior financial year Unrestrictsd Restrlcted funds funds 2023 2023 Total 2023 Notes Income and endowments from: Donations and legacies Charitable activities Other trading activities Investments Other income 292,422 1.073,544 138.873 2,902 97.367 292.422 1,145.243 138.873 2.902 97.367 71,699 Total Income 1.605,108 71,699 1,676.807 Raising funds 146,590 146,590 Charitable activities 1,373,532 70,148 1,443,680 other expenditure 12 71.589 71,589 Totsl expendlture 1.591,711 70.148 1,661,859 Net {outgolngVln¢oming resources before transfers 13,397 1.551 14,948 Net (expenditure)Ilncome for the yearl Net movement in funds 13,397 1.551 14,948 Fund balanS at 1 April 2022 633,741 392 634,133 Fund balances at 31 March 2023 647,138 1,943 649,081 12-
DUKES PLAY HOUSE LIMITED (THE) BALANCE SHEET ASAT31 MARCH 2024 2024 2023 Notes Flx¢d assets Tangible assets 14 19,061 37.415 Current assets 15 16 1,484 174,081 615,220 2,313 173,394 597,914 Debtors Cash at bank and in hand 790,785 773.621 Creditors: amounts falling due wlthln one yoar 17 {208,397) (161,955) Net current assets 582,388 611,666 Total as8•ts1oss current Ilabllltlès 601,449 649,081 Income funds Restricted funds Unrestricted funds Designated funds.. Operating reserve Other designated funds 19 30,106 1.943 200,000 150,000 200,000 150,000 20 350,000 221,343 350,000 297,138 General unrestricted funds 571,343 647,138 601,449 649,081 The financial statements were approved by the Trustees on ... Mr Roderlck Gauld Company Registration No. 01077517 13-
DUKES PLAY HOUSE LIMITED (THE) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notès Cash flows from operntlng aCtitIeS Cash generated froml(absorbed by) operations 24 8,933 (85.579) Investlng activities Investment income received 8,373 2.902 Net cash generated from Investlng actlvltles 8,373 2,902 Flnanclng actlvltles Repayment of bank loans (250,000) Net cash used In financlng actfvitles (250.000) Net increasel(decrease) in cash and cash equlvalents 17,306 (332,677) Cash and cash equivalents at beginning of year 597,914 930.591 Cash and cash oqulvalents at end of year 615,220 597,914 14-
DUKES PLAY HOUSE LIMITED (THE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcies Charlty Informatlon The Dukes Playhouse Limited is a private charitable company limited by guarantee and is incorporated and domiciled in England and V*ales. The address of the registered office is The Dukes, Moor Lane. Lancaster. LA11QE. The nature of the Its operations and its prinaple activities are detailed in the trustees report attached to these financial statements. 1.1 Aecountlng convenllon The Charity is a Public Benefrt Entity as defined by FRS 102. The finanaal statements have been prepared in accordance wth Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019. the Financial Reporting Standard applicable in the Unlted Klngdom and Republic of Ireland (FRS 102), the Charltles Act 2011, the Companies Act 2006 ar UK Generally Accepted Accounting Practice. The financial statements are prepared in sterling, vthlch is the functional currency of the charity. Monetary amounts in th&se financial statements are rounded to the nearest £. The financial ststements have been prepared under the historical cost convention. The principal accounting pdicies adopted are set out below. 1.2 Golng concern These financial statements str net unrestricted expenditure of £75,795 and unrestricted funds at the year end of £571,343. The trustees have prepared finandal forecasts and budgets which incorporate the ACE funding to March 2026 and the service level agreement with Lancaster Cty Council vthith demonstrate the future viabilty of the charitsble company and its ability to meet its debts as they fall due. Therefore at the time of approving the financial statements, the trustees have a reasonable 8xpectation that the charity has adequate reSoUrS to continue in operational existence for the foreseeable future. Thus the trustees contlnue to adopt the going concem basis of accounting in preparing the financial statements. 1.3 Charltsble funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured rellably. and it is probable that income will be reived. Income in respect of productions is recognised in the period in which the production occurs. Cash donations are recognised on recEipt. Other donatlons are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under GiftAid or deeds of covenant is recognised at the time of the donation. Legaci88 are recognised on recelpt or otherwise if the charity has been notified of an Impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. 15-
DUKES PLAY HOUSE LIMITED (THE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles (Contlnued} Income from Government and other grants, whether capitsl grants or revenue grants, is regnised ththen the charity has entitlement to th8 funds, any performance conditions attached to the grants have been md. 5t is probable that the income will be received and the amount can be reliably measured. Income received in advance of a theatrical perfomiance or provision of other specified service is deferred until the criteria for income recognition are met. Other trading income is recognised on a receivable basis. Investment income is recognised in the SOFA in the year in which it is recevable. 1.5 Expenditure Expenditure is recognised once there is a constructive obligab'on to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be reliably measured. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates. Costs of raising funds comprise the costs of trading of the bar arKI catering facilities. Expendilure on Gharitab18 activiti8s comprises those costs incurred by the charity in the delivery of its activiti88 and services. It includes both costs that can be allocated directly to those activities and those of an indlrect nature necessary to support them. Other costs represent those items not falllng into the categories above. Support costs relate to those functions that assist the work of the charfty but do not d1CtlY undertake charitable activities. Support costs Include back office costs, finance, personnel, payroll and gornan costs which support the Charity's programmes and activities. These costs have been allocated between costs of raising funds and expenditure on charitable activities. Support costs are apportioned on an appropriate basis eg floor area, per capita or estimated usage. 1.6 Tanglble flxed assets Tangible fixed assets costing more than £1,000 are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Leasehold improvements Fixtures arKI fittings term of lease 4-10 years The gain or loss arising on the disposal of an asset is determined as the difference beeen the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Impalrrnent of fixed assets At each reporting end date, the charity revlews the carying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impaimient loss. If any such Indlon exists, the r8coverable amount of the asset is estlmated in order to determine the extent of the impairment loss (if any). 16-
DUKES PLAY HOUSE LIMITED (THE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollclfts Icontlnued) 1.8 Stocks Stocks are ststed at the lower of cost and 8Stim8ted selling. Cost is based on the cost of the purchase on first in first out basis. 1.9 Cash and cash equlvalents Cash and cash equivalents include cash in hand. deposits held at call with banks, other shorkterm liquid investments with original maturltles of three months or18ss, and bank overdrafts. Bank overdrafls are shown within borrowings in current liabilities. 1.10 Financial instruménts The charlty has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'other Financial Instruments Issues. of FRS 102 to all of its financial instruments. Financial instruments are recognised In the charity's balance sh&t when the charlty becomes paty to the contractual provislons of the instrument. Financial assets and Isabilities are offset, with the net amounts presented In the financial ststements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Baslc flnancial assets Basic financial assets, which Include debtors and cash and bank balances. are initially measured at transaction pri including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the fLrture receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic flnanclal liabilitles Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transactp)n, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilltles classified as payable within one year are not amortised. Debt instnjments are subsequently carried at amorti88d cost. using the effective interest rate m8thod. Trade creditors are obligations to pay for goods or services that have been acquired in the ordin¥y course of operations from suppliers. Amounts payable are classthed as current liabilities if payment is due wlthin one year or less. If not. they are presented as non-current liabilities. Trade credltors are recognised initially at transaction prlce and subsequently m8asured at amortised cost using the effective interest method. 1.11 Taxation The charity Is an exempt charity viithin the meaning of schedule 3 of the Chariti88 Act 2011 and is considered to pass the tests set out in Paragraph 1 SckEdule 6 of the Finance Act 2010 and therefore meets the definition of a charitable company for UK corporation tax purposes. 17-
DUKES PLAY HOUSE LIMITED (THE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcles (Contlnued) 1.12 Employee benefts V¥Then employees have rendered seprftces to the charity, short temi employee benefits to which the employee is entitled are recognised at the amount expected to be paid for that seniice. The charity operates a defined contribution pensbon plan for the benefft of its employees. Contributions are expensed as they become payable. The cost of any unused lIdaY entitlement is recognised in the period in thich the employee's services are received. Temiination beneffts are recognised immediately as an expense when the charity is demonstrably committed to tenninate the employment of an employee or to provide termination beneffts. 1.13 Retlrement b8nofits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Donations and legacles Unrestrlctsd R•stricted funds funds Total Unrestrl¢ted funds 2024 2024 2024 2023 Donations and gifts Arts Council England 55,547 260,904 11,780 67,327 260,904 31,518 260.904 316,451 11,780 328,231 292,422 18-
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DUKES PLAY HOUSE LIMITED (THE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Other trading actlvlties Unrestrtcted Unrestrlct funds funds 2024 2023 Fundraising events Trading activity income.. Bar and Catsring 28,102 117,841 39,203 99,670 Other trading activit188 145,943 138,873 Investments Unrestrlcted Unrostrlcted funds funds 2024 2023 Interest receivable 8,373 2,902 Other Income Unrestricted Unrestricted funds funds 2024 2023 Other income Theatre tax credit 17,213 111.262 22,241 75,126 128,475 97,367 -20-
DUKES PLAY HOUSE LIMITED (THE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Raising funds Unrestrlcted Unrestricted funds funds 2024 2023 Tradin costs Other trading activities staff costs Depreciation and impairment Support costs 51.749 73,652 558 40,738 48.252 58,465 558 39,315 Trading costs 166,897 146,590 21-
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DUKES PLAY HOUSE LIMITED (THE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 10 Trusttss None of the trustees (or any persons connected with them) re¢eNed any remuneration or expenses from the charity durlng the year. All trustees can re1ve free tickets for the guest nigm perf0mlan of a Dukes th8atre production. 11 Employees The average monthly number of employees during the year was: 2024 Number 2023 Number Technical - Full time Technical - Part time Front of house - Full time Front of house- Part time Administrative - Full tlme Adrninistrative- Part time Creative communities- Full time Creative communities - Part time 13 14 Total 32 33 Employment costs 2024 2023 Wages and salaries Social security costs Other pension costs 812,628 43,636 23,735 782,261 44,268 20,956 879,999 847,485 The average number of full tlme equivalent employees is 26 (2023: 23). This is calculated using half the number of part time staff. There were no employees whose annual remunerats'on was more than £60,000. 12 Other expenditure Unre8trlctsd Unrestrlcted funds funds 2024 2023 Flnancing costs Other expenditu 25,104 51,445 23,227 48,362 76,549 71,589 -24-
DUKES PLAY HOUSE LIMITED (THE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Taxatlon The charity is exempt from tax on income and gains falling thin section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are apled to its charitable objects. 14 Tanglble fixed assets Leasohold Flxtures and improvoments flttlngs Total Cost At 1 April 2023 730.701 548.286 1,278,987 At 31 March 2024 730,701 548.286 1,278,987 Depreciatlon and impalrment At 1 April 2023 Depreciation charged in the year 730.701 510,871 18,354 1,241,572 18,354 At 31 March 2024 730,701 529,225 1,259,926 Carrylng amount At 31 March 2024 19,061 19.061 At 31 March 2023 37,415 37.415 Included in leasehold property improvements is conversion work carried out on a derelict church to create a Moor Lan8 Additional Building. The net took value of Moor Lane Addltlonal Building at the year end was £nil. The vKrk orlglnally undertaken amounted to £280,750 and was funded by a National Lottery grant of £194,750 from Arts Council England and a grant of £86,000 from Lancaster City Council. The Dukes Playhouse Limited, as part of its charitable aims. supports Moor Lane Additional Building in its work In providing participation activities for local young people. Included in leasehold property improvements is refvrbishment work to the 'round' theatre. The net book value of the studio refurbishment at the year end was £nil. The work originally undertaken amounted to £380.583 and was funded by a grant of £260,383 from North West Development Agency and a grant of £99,100 from Arts Council England. 15 stocks 2024 2023 Goods for sale and consumables 1,484 2,313 -25-
DUKES PLAY HOUSE LIMITED (THE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 Debtors 2024 2023 Amounts falllng due wlthln one year. Trade debtors Other debtors Prepayments 7,573 133,152 33,356 7,689 140,205 25,500 174,081 173,394 17 Cr•dltor3: amounts falllng due wlthln one year 2024 2023 Other taxation and social security Deferred income Trade credit¢xs Other creditors Accruals 27,904 68,924 41,809 14,876 54.884 17,418 34,374 31,381 26,520 52,262 18 208,397 161,955 18 Deferred Income 2024 2023 Arising from government grants Arlslng from Relating to post year end productions 17,208 17,216 51,716 17,158 68,924 34,374 Deferred income is included In the financial statements as follows: 2024 2023 Deferred income is included within.. Current liabilitles 68,924 34,374 Movements in the year: Deferred income at 1 April 2023 Released from previous periods Resources defeed in the year 34,374 (34,374) 68,924 57,883 {57,883) 34,374 Deferred income at 31 March 2024 68,924 34,374 -26-
DUKES PLAY HOUSE LIMITED (THE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 18 Deferred Incomè (Contlnued) The income in the above note has been deferred as it relates to box Offi productions which occurred after 31 March 2024 or grants with unfulfilled condits.ons at the year end. -27-
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DUKES PLAY HOUSE LIMITED (THE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 20 Deslgnated funds The Income funds of the charity include the folloIng designated funds which have been set aslde out of unrestricted funds by the trustees for specific purposes: Movement Movement In funds In funds Balance at Movem•nts to Balance at Movements to Balance at 1 April 2022 31 March 2022 1 Aprll 2023 31 March 2023 31 March 2024 Operating reserve Capital programm8 Artistic Programme Investment Audience Development Capacty Building 200.000 80.000 30,000 20.000 20,000 200,000 80,000 30,000 20,000 20,000 200,000 80,000 30,000 20.000 20.000 350,000 350,000 350,000 Operatlng Resorves - £200,000 Removed from the general cash flow and designated as an operats'ng reserve for use when approved by the Board. This is equ81 to 12 weeks of the Dukes pre COVID tumover. Capltal Programme - £80,000 In light of the Dukes ongoing capital needs and also its future ambitions that thls resenie is established and the funds used only for major capital emergency needs (Including purchasing of equipment vital to operatlon) and as match funding for any other major capital bids {including pre bid requlrements). Arthtlc Programme Investm•nl - £30,000 This fund would be used for investment in artistic programme in the future that would return a level of financial C8prtal back to the organisation. Examples could be futher investment in digital programmlng, matth funding for co-productions or to support the growth of the Dukes Hom&grown productions. Audlence Development- £20,000 The Dukes faces an uncertain future with regards to audlences. This fund would be used to support audlen development and marketing prograrnmes outsid8 the nomlal marketlng budget with clear goals and mllestones of delivery. Th8S8 programmes vffjuld be focused on incr8a8ing audiences and investlng In rew marketing practices or tralnlng. Capacity Bulldlng - £20,000 The Dukes capacity wlthin the stsff team is an ongoing challenge which would benefit at times from additional capacity on 8 short term basis however budgeting for this support is challenging within the current budget mc#lel. This fund would be used to fund additional capaclty on short term basis particularly in areas of development such as fundraising. marketing and financial management. -29-
DUKES PLAY HOUSE LIMITED (THE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 21 Anatysls of net ass•ts between funds Unrestrfctad Restrlcted funds funds 2024 2024 Totsl Unrestrfctod R•stricted funds funds 2023 2023 Total 2024 2023 Fund balances at 31 March 2024 are represented by.. Tangible assets Current assetsl(liabilities} 19,061 552,282 19.061 582,388 37,415 609,723 37.415 611,666 30,106 1,943 571,343 30,106 601,449 647.138 1,943 649,081 22 Operatlng lease commltments At the reporting end date the charity had outstanding commitments for future minimum lease payments under rrcancellab1e operating leases, which fall due as follows: 2024 2023 wthin one year 20,500 21,074 23 Related party transactlons Remuneration of key management personnel The remuneration of key management personnel is as follows. 2024 2023 Aggregate compensation 59,711 e6,548 24 Cash generated from operatlons 2024 2023 (Deficit)Isurpus for the year (47,832) 14.948 Adjustments for. Investment income recognised in statement of financial activities Depr8ciation arKI impaimient of tangible fixed assets (8,373) 18,356 (2.902) 18,936 Movements in working capltal: Decrea881(increase> in stocks (Increase) in debtors Increasel(decrease) in creditors Increasel(decrease) in deferred income 829 (687) 11,890 34.550 (18) {66,196) (26,838) (23,509) Cash generated froml(ab8orbad by) op8ratlon8 8,933 (85,579)
DUKES PLAY HOUSE LIMITED (THE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 25 Analysls of changes In net funds The charity had no debt during the year. 31