2021-03-31-accounts - Wakefield Theatre Trust

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INDEX		PAGE
REFERENCE AND ADMINISTRATIVE	INFORMATION
REPORT OF THE TRUSTEES		2-7
STATEMENT OF TRUSTEES' RESPONSIBILITIES
INDEPENDENT AUDITOR'S REPORT	T - THE TRUSTEES
STATEMENT OF FINANCIAL ACTIVITIES		12
BALANCE SHEETS		13
CONSOLIDATED STATEMENT OF CASH FLOWS		14
NOTES TO THE ACCOUNTS		15-35

			Unrestricted	Designated	Restricted	2021	2020
		Note	Fund	Fund	Fund	Total	Total
Income from:
Donations and legacies		5	66,432		909,660	976,092	186,121
Income from charitable		6	(7,005)		340	(6,665)	1,580,288
activities
Income from other		7	220,260		260	220,520	376,597
trading activities Investment income			203			203	488
Total income			279,890		910,260	1,190,150	2,143,494
Expenditure on:
Charitable activities		8	274,033		453,035	727,068	1,885,938
Raising funds		8	36,801		59,805	96,606	205,644
Total expenditure			310,834		512,840	823,674	2,091,582
Net income for the	year		(30,944)		397,420	366,476	51,912
Transfer between	funds		193,216		(193,216)
Transfer to Designated		Fund	(68,000)	68,000
Corporation tax owed		11					44 984
Net movement in	funds		94,272	68,000	204,204	366,476	96,895
Reconciliation offunds:
Total funds			105,285		1,695,870	1,801,155	1,704,259
brought forward
Total funds			199,557	68,000	1,900,074	2,167,631	1,801,155
carried forward

			Notes	Group	Group		Charity	Charity
				2021		2020	2021f		2020
Fixed assets
Tangible assets			15	1,927,815	1,913,080		1,927,815	1,913,080
Investment	in subsidiary		16				10		10
				1,927,815	1,913,080		1,927,825	1,913,090
Current assets
Stocks			17	2,292		6,727	2,292		6,727
Debtors and	prepayments		18	128,896		119,319	131,496		77,076
Cash at bank and		in hand		703 883		481 239	703 799		481 190
				835,071		607,285	837,587		564,993
Creditors
Amounts falling due
within one year			19	~402 642		~577 117	~405 168	~574 517
Net current	assetsl (current liabilities)			432 429		30 168	432419		~9524
Creditors
Amounts falling due after
more than one year			19	(192,613)		(142,093)	(192,613)	(142,093)
Net assets					188L1~		~I~	+~1~74
Funds
Unrestricted			21	199,557		105,285	199,557		65,603
Designated				68,000			68,000
Restricted			22	1 900074	1	695870	1 900074	1	695870
Total funds				~21 7 t32	180M155		2~1676 1	~17 147

				Notes
					2021	2020f
Cash generated by operating activities				27	308,387	173,061
Cash flows from investing	activities
Interest income					203	488
Purchase oftangible fixed	assets			15	~85 946	~63 514
Cash used in investing activities					~85743	~83026
Cash used in financing activities
Increase in cash and cash	equivalent	in the year			222 644	90 035
Cash and cash equivalent	at the beginning		ofthe year		481 239	391 204
Cash and cash equivalent	at the end ofthe year

				Unrestricted	Restricted	2020
				Fund	Fund	Total
Income from:
Donations and legacies					186,121	186,121
income from charitable		activities		1,568,861	11,427	1,580,288
Income from other	trading		activities	375,635	962	376,597
Investment income				488		488
Total income				1,944,984	198,510	2,143,494
Expenditure on:
Charitable activities				1,739,129	146,809	1,885,938
Raising funds				197,095	8,549	205,644
Total expenditure				1,936,225	155,358	2,091,582
Net income for the	year			8,759	43,152	51,911
Corporation tax owed				44 984		44 984
Net movement in	funds			53,743	43,152	96,895
Reconciliation of	funds:
Total funds brought	forward			51,542	1,652,717	1,704,259
Total funds carried	forward			105,285	1,695,869	1,801,155

Charity s	t	atem	ent of	financial activities
				Unrestricted	Designated	Restricted	2021
				Fund	Fund	Fund	Total
Income from:
Donations and legacies				66,432		909,660	976,092
Income from charitable				32,629		340	32,969
activities
Income from other				220,260		260	220,520
trading activities
Investment income				203			203
Total income				319,524		910,260	1,229,784
Expenditure on:
Charitable activities				273,987		453,035	727,022
Raising funds				36,799		59,805	96,604
Total expenditure				310,786		512,840	823,626
Net income for the		year		8,738		397,420	406,158
Transfer between	funds			193,216		(193,216)
Transfer to Designated			Fund	(68,000)	68,000
Net movement in	funds			133,954	68,000	204,204	406,158
Reconciliation of	funds:
Total funds brought		forward		65,603		1,695,870	1,761,473
Total funds carried		forward		199,557	68,000	1,900,074	2,167,631

Charity statement	offinancial activiti	es -Comparative
		Unrestricted	Restricted	2020
		Fund	Fund	Total
Income
Donations and legacies			186,121	186,121
Charitable activities		2,039,567	11,427	2,050,994
Other trading activities		375,635	962	376,597
Investment income		488		488
Total income		2,415,690	198,510	2,614,200
Expenditure
Charitable activities		2,158,555	146,808	2,305,363
Raising funds		197,434	8,549	205,983
Total expenditure		2,355,989	155,357	2,511,346
Net income for the	year	59,701	43,153	102,854
Transfer between funds
Net movements in	funds	59,701	43,153	102,854
Total funds brought	forward	5,902	1,652,717	1,658,619
Total funds carried	forward	65,603	1,695,870	1,761,473

Donations and legacies	Donations and legacies
			Unrestricted	Restricted	2021
			Fund	Fund	Totalf
Donations
Grants
Heritage Fund				48,157	48,157
WMDC Emergency Grant			30,000		30,000
EPSIF Project Comm	Foundation	Wakefield		3,180	3,180
Creative Minds 2020				2,750	2,750
National Emergency Fund- Leeds		Comm	Found	10,000	10,000
The Art House Grants			10,000	2,500	12,500
ACE Emergency Resilience Grant				35,000	35,000
PIWIII Grant Received	Youth Social Action			4,171	4,171
Power to Change				25,000	25,000
Paul Hamlyn Foundation Grant				20,000	20,000
WMDC Wordfest				15,000	15,000
Nova Wakefield LWW	Small Grant			7,093	7,093
Key Fund Investment	Grant			50,000	50,000
Theatres Trust Capital	Grant			5,000	5,000
Arts Council Grant Recovery Fund				475,000	475,000
WMDC Building Light	Up			840	840
Garfield Weston Foundation				200,000	200,000
LEP Grant				2,750	2,750
WMDC LRS Grant			26,432		26,432
NOVA Live Well Wakefield 2				3,219	3,219
			66,432	909,660	976,092
Total donations and legacies			66,432	909,660	976,092
Investment Income
Bank Interest

	NOTES TO TH	E ACCOUNTS F	E ACCOUNTS F	OR THE YEAR	ENDED 31 MAR	CH 2021
	Donations and legacies	- Comparative		Unrestricted	Restricted	2020
				Fund	Fundf	Totalf
	Donations
	Wakefield Annual Charity	Christmas	Lunch		7,100	7,100
	Other donations
					7 100	7 100
	Grants
	WMDC Capital Grants				60,000	60,000
	WMDC —Culture Cures				10,000	10,000
	Youth Music Fund				27,201	27,201
	Heritage Fund				49,150	49,150
	Yorkshire Passion				28,670	28,670
	National Theatre Nations	Partnership			4,000	4,000
					179,021	179,021
	Total donations and legacies				186,121	186,121
	tnvestment Incoin
	Bank Interest
6.	Charitable activities
				Unrestricted	Restricted	2021
				Fund f	Fund f	Total f
	Income from Charitable	Activities:
	Operation ofthe Theatre
	Box office			61		61
	Other theatre income
	Touring income
	Education and outreach	income		12,809	340	13,149
	Theatre production charges
	Theatre hires
	Ticket levies			(19,875)		(19,875)
	Total Charitable income	received		(7,005)	340	(6,665)
	Charitable activities Comparative
				Unrestricted	Restricted	2020
				Fund f	Fund f	Total
	Income from Charitable	Activities:
	Operation ofthe Theatre Box office			954,921	10,517	965,438
	Other theatre income			26,784	910	27,694
	Touring income Education and outreach	income		182,330 137,063		182,330 137,063
	Theatre production charges			88,100		88,100
	Theatre hires			69,623		69,623
	Ticket levies			110,040		110,040
	Total Charitable income	received		1,568,861	11,427	1,580,288

Activities for generating	fun	ds
			Unrestricted		Restricted		2021
			Fundf			Fund	Total
Trading activities			3,630				3,630
Membership scheme			5,795				5,795
Commission and recharges	receivable		18,831				18,831
Coronavirus Job Retention	Scheme		124,487				124,487
Sponsorship and development			67,517			260	67,777
Total income received			220,260			260	220,520
Activities for generating	funds - Comparative
			Unrestricted		Restricted		2020
			Fund			Fund	Total
Trading activities			211,616				211,616
Membership scheme			2,854				2,854
Commission and recharges	receivable		58,994				58,994
Sponsorship and development			102,171			962	103,133
Total income received			375,635			962	376,597
Expenditure
			Direct cost of	Support costs		Restricted	Total funds
			activities				2021
Charitable Activities
Artist costs
Stage expenses			1,668				1,668
Technical and front ofhouse		costs	99,168			32,098	131,266
Visiting producers fees
TRW running and production		costs
Touring costs
Education and outreach fees			22,288			99,602	121,890
Marketing					37,438	47,213	84,651
Other support costs					108,145	274,122	382,267
Governance					5,326		5,326
Governance - Subsidiary
Total Charitable Activities			123,124		150,909	453,035	727,068
Governance
Activities forgenerating	funds
Fundraising			21,528			40,514	62,042
Trading activities			1,993			2,379	4,372
Marketing					4,456		4,456
Other support costs					8,544	16,912	25,456
					280		280
Total activities for generating		funds	23,521		13,280	59,805	96,606
Total expenditure			146,645	164,189		512,840	823,674

xpenditure -Comparative
			Direct cost of	Support costs	Restricted	Total funds
			activities f.			2020f
Charitable Activities
Artist costs			13,563			13,563
Stage expenses Technical and front of house		costs	52,308 174,487		29,053	81,361 174,487
Visiting producers fees TRW running and production		costs	355,251 510,506			355,251 510,506
Touring costs			30,962			30,962
Education and outreach fees			143,165		53,983	197,148
Marketing				147,302		147,302
Other support costs Governance				301,578 7,407	63,773	365,351 7,407
Governance - Subsidiary				2 600		2 600
Total Charitable Activities			1,280,242	458,887	146,809	1,885,938
Activities for generating Fundraising Trading activities Marketing Other support costs Governance	funds		69,972 97,569	7,753 21,411 390	5,193 3,356	75,165 97,569 7,753 24,767 390
Total activities for generating		funds	167,541	29,554	8,549	205,644
Total expenditure			1,447,783	488,441	155,358	2,091,582

on a basis of premises resources.		co	sts based on floor	space and the	other costs are	consistent w
				Charitable	Trading	2021
				activities	activities	Total
				E		E
Administration salaries				149,025	7,844	156,869
Other staff costs				10,126	533	10,659
Premises costs				118,467	11,574	130,041
Computer, stationery Telephone	and		postage costs	18,548 4,817	976 253	19,524 5,070
Travelling and subsistence costs Legal and professional costs Bank charges				(137) 35,640 3,470	(7) 1,876 182	(144) 37,516 3,652
Interest payable Other sundry expenses Depreciation offixtures,		fittings 8 equipment		7,424 966 33,921	390 51 1,785	7,814 1,017 35,706
Marketing				84,651	4,455	89,106
Governance costs				5,326	280	5,606
Governance costs —subsidiary
				472,244	30,192	502,436
Restricted				321,335	16,912	338,247
Unrestricted				150,909	13,280	164,189
Total				472,244	30,192	502,436

on a basis of resources.	premises		co	sts b	ased on floor	space and th	e other costs are	consistent
						Charitable	Trading	2020
						activities	activities	Total
								F
Administration	salaries					131,733	6,933	138,666
Other staff costs						1,046	55	1,101
Premises costs						122,889	12,005	'i34,894
Computer, stationery		and		postage costs		26,140	1,376	27,516
Telephone						5,594	295	5,889
Travelling and subsistence				costs		1,933	102	2,035
Legal and professional			costs			29,394	1,547	30,941
Bank charges						4,816	254	5,070
Interest payable						9,611	506	10,117
Other sundry	expenses					1,559	82	1,641
Depreciation	offixtures,		fittings		& equipment	30,636	1,612	32,248
Marketing						147,302	7,753	155,055
Governance	costs					7,407	390	7,797
Governance	costs —subsidiary					2,600		2,600
						522,660	32,910	555,570
Restricted						63,773	3,356	67,129
Unrestricted						458,887	29,554	488,441
Total						522,660	32,910	555,570

Net expenditure for the year
Net expenditure is stated after charging:	2021	2020f
Operating leases	1,319	884
Depreciation	71,211	67,626
Auditor's remuneration:
Audit fees - Charity	8,000	7,200
Audit fees - Subsidiary	0	2,600
Audit Fees - Other	1,500	0

Staff costs, Trustees'	and cost of key management	personnel
Staff costs	2021f	2020f
Salaries and wages	420,091	660,998
Social Security costs	30,193	36,546
.Pension costs	9,297	,8,,287
	459,581	705,831

			2021	2020
Salaries	(2021 salaries)		53,805	51,000
Company	pension	contributions	1,313	1,316
			55,118	52,316

Stage crew and technicians	Stage crew and technicians
Boxoffice, marketing	and front of house
Bar
Education
Own productions
Support

Restrictions Support Grant	(	LRS).	LRS).
The following transactions		took place		during	the year	between the	Trust	and its wholly		owned
subsidiary TRW Productions		Ltd	("TRW"):
							2021			2020
Transactions:
Production costs recharged		to TRW							425,048
Theatre and utilities recharged			to TRW							88,100
Commission fee charged	by TRW								(510,506)
Gift aid from TRW to the	trust						39,634			48,300
Year end balances:
Amounts receivable from	TRW									44,984
Tangible fixed assets
Group and charity:
				Freehold		New Build		Fixtures,
				land and		development	fittings and
				buildings		costs		equipment		Total
Cost
1 April 2020 Additions				885,000		989,056 3,796		609,337 82,150	2,483,393 85,946
Disposals
31 March 2021				885,000		992,852		691,487	2,569,339
Depreciation 1 April 2020					96,000	37,030		437,283		570,313
Charge for year					16,000	19,505		35,706		71,211
Depreciation on Disposals
31 March 2021
				112,000		56,535		472,989		641,524
Net book values
31 March 2021				773,000		936,317		218,498	1,927,815
31 March 2020				789,000		952,026		172,054	1,913,080

	Group and Charity
				2021	2020
	Bar and refreshments			2,292	6,727
				2,292	6,727
18.	Debtors
					Group		Charity
				2021	2020	2021 f	2020 f
	Amounts falling due	within	one year:
	Trade debtors			2,292	15,742	4,892	18,343
	Amounts owed by subsidiary		company				140
	Prepayments			51,513	50,150	51,513	50,1500
	Accrued income			60,551	7,162	60,551	7,162
	Taxation &Social Security			14,540		14,540
	Theatre tax relief				44,984
	Other Debtors				1,281		1,281
				128,896	119,319	131,496	77,076
19.	Creditors
					Group		Charity
				2021	2020	2021	2020
						K	f
	Amounts falling due	within	one year:
	Trade creditors			62,655	140,158	62,655	140,158
	Amounts owed to subsidiary		company			2,526
	Taxation and social security			8,668	19,560	8,668	19,560
	Other creditors			24,330	14,125	24,330	14,125
	Accruals			33,781	32,008	33.781	29,409
	Deferred BoxOffice Income		(note 20)	202,490	312,914	202,490	312,914
	Other Loans			51,916	44,453	51,916	44,453
	Deferred Income			8,578	6,418	8,578	6,418
	Pension contributions	payable		10,224	7,481	10,224	7,481
				402,642	577,117	405,168	574,517

						Group		Charity
					2021f	2020f	2021 f	2020
	Amounts falling due		in more	than one year:
	Pension contributions Other Loans Deferred Box Office	payable Income (note 20)			21,458 105,320 65,835	32,253 109,840	21,458 105,320 65,835	32,253 109,840
					192,613	142,093	192,613	142,093
20.	Deferred income
	BoxOffice						2021f	2020
	Balance as at 1 April 2020 Amount released to incoming			resources			312,914 (312,914)	281,369 (281,369)
	Amount deferred	in	the year				268,325	312,914
							268,325	312,914
	Theatre Hires/Sponsorship			Annual Agreements
	Balance as at 1 April 2020 Amount released to incoming			resources			6,418 (6,418)	7,156 (7,156)
	Amount deferred	in	the year				8,578	6,418
							8,578	6,418
	Balance as at 31	March 2021					276,903	319,332
	Due within 1 year						211,068	319,332
	Due after more than		1 year				65,835

Unrestricted Group:	funds
		Brought	Incoming	Outgoing	Transfers	Carried
		forward	resources	resources f		forward
General fund		105,285	279,890	(310,834)	125,216	199,557
Charity:
		Brought	Incoming	Outgoing	Transfers	Carried
		forward f	resources	resources f		forward f
		65,603	319,524	(310,786)	125,216	199,557
General fund
Designated	Fund	Brought	Incoming	Outgoing	Transfers	Carried
		forward f	resources	resources	f	forward f
					68,000	68,000

Group and charity:
			Balance	Incoming	Outgoing		Balance
			31 March	resources	resources	Transfers	31 March
			2020				2021
Fixed Assets -Land	8	Buildings	772,559		(16,000)		756,559
Fixed Assets- Centre	for Creativity		809,149		(25,302)		783,847
Fixed Assets —Other					(2,558)	30,690	28,132
Equity Trust			4,305		(678)		3,627
WACCL			6,070				6,070
Youth Music Fund			17,699	600	(15,222)	1,000	4,077
NT Theatre Nations	Partnership		3,928				3,928
Heritage Fund			22,160	48,157	(39,627)	(30,690)
WMDC Capital Fund			60,000		(3,842)		56,158
Theatres Trust				5,000	(681)		4,319
Emergency Resilience		Fund		35,000	(35,000)
Creative Minds 20/21				2,750	(2,750)
Art House PA 8 Chime		at Home		2,500	(1,500)	(1,000)
ittiWill				4,171			4,171
Wordfest				15,000	(15,000)
Paul Hamlyn				20,000	(20,000)
Leeds Community Foundation				10,000	(10,000)
NOVA Live Well Wakefield				7,093	(5,942)		1,151
Social Enterprise Support Fund				50,000	(44,048)		5,952

23.	Analysis ofgroup net assets	between funds	between funds
		Designated		General	Restricted	Total
			Funds F	Funds	fundsf	2021 E
	Fund balances at 31 March 2021
	are represented by:
	Tangible fixed assets			133,789	1,794,026	1,927,815
	Cash in hand		68,000	447,863	188,020	703,883
	Other net current (liabilities)			(210,781)	(60,673)	(271,454)
	Long term (liabilities)			(171,314)	(21,299)	(192,613)
			68,000	199,557	1,900,074	2,167,631
	Analysis ofgroup net assets	between funds Comparative
				General	Restricted	Total
				Fundsf	funds	2020f
	Fund balances at 31 March 2020
	are represented by:
	Tangible fixed assets Cash rn-hand			155,939 378,849	1,757,141 102,390	1,913,080 4
	Other net current (liabilities)			(343,896)	(107,174)	(451,070)
	Long term (liabilities)			(85,606)	(56,487)	(142,093)
				105,285	1,695,870	1,801,155
24.	Financial commitments
	At 31 March 2021 the company	had annual	commitments	under non-cancellable operating		leases as
	follows:
					2021f	2020
	Expiry date:
	Within one year				777	384
	Between one and five years				2,720

							2021	2020
	Net movement in funds Depreciation charge Interest income Decrease/(Increase) in (Increase)/ Decrease in Decrease in creditors	stock debtors					366,476 71,211 (203) 4,435 (9,577) (123,955)	96,896 67,626 (488) (2,719) 97,302 (85,556)
	Net cash generated by/(used		in)
	operating activities						308,387	173,061
28.	Financial instruments
							2021	2020f
	Carrying amount offinancial Debt instruments measured at			assets amortised	cost		~cQ
	Carrying amount offinancial Measured at amortised cost			liabilities			280&QZ	~585
29.	Analysis ofdebt
					At 1 Apr		Other non-	At 31 Mar
					2020	Cash Flow	cash movement f	2021
	Cash				481,239	222,644		703,883
	Bank Loans due within	1 year			(44,453)	47,057	(54,520)	(51,916)
	Bank Loans due greater	than	one year		(109,840)	(50,000)	54,520	(105,320)
	Total				326,946	219,701		546,647
30.	Capital commitments