Newcastle Theatre Royal Trust Limited Contents Legal and administrative detalls.................................. Trustees. report lindudlng Strategic reptrrtl for the year ended 31 March 2023.............-.................................. Statement of Tru5tees' responsibilities...............................-.............................................................-........................ 12 Independent audiiors. report to the members of Newcastle Theatre Royal Trust Limited......................... ..... 13 Statement of Financlal AttivltSes Ilncluding Income and expenditure account) for the year ended 31 M?rch Balance Sheet as at 31 March 2023 ................................................................................................................... 18 Statement of Cash Flows for the year ended 31 March 2023................ Notes io the finandal statements for the year ended 31 March 2023.............................................................. 20 .19
| Unrestricted | Unrestricted | ||||||
|---|---|---|---|---|---|---|---|
| General | Designated | Restricted | Total | Total | |||
| funds | Funds | funds | 2023 | 2022 | |||
| Note | E | E | E | E | E | ||
| Income from | |||||||
| Donations and legacies |
4 | 159,280 | 10,899 | 170,179 | 85,678 | ||
| Charitable activities: |
|||||||
| Operation ofTheatre | 5 | 16,837,125 | 16,837,125 | 7,062,330 | |||
| Other including Government Grant fundinR |
37,724 | 37,724 | 176,998 | ||||
| Investments | 236,963 | 236,963 | 328 | ||||
| Misc. income | 13,215 | ||||||
| Totalincome | 17,271,092 | 10,899 | 17,281,991 | 7,338,549 | |||
| Expenditure | |||||||
| Expenditure on charitable |
|||||||
| activities: | |||||||
| Operation ofTheatre | 9 | (15,615,501) | (10,899) | (15,626,400) | (8,065,988) | ||
| Total expenditure | (15,615,501) | (10,899) | (15,626,400) | (8,065,988) | |||
| Net income/(Expenditure) | 1,655,591 | 1,655,591 | P27,439) | ||||
| Actuarial gains/(losses) on defined benefit pension schemes |
13(h) | 3,140,000 | 3,140,000 | 1,640,000 | |||
| Transfer to designated | funds | (577,000) | 577,000 | ||||
| Transfer to restricted | funds | ||||||
| Net movement in funds |
4,218,591 | 577,000 | 4,795,591 | 912,561 |
| Unrestricted | ||||||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | ||||||||
| General | Designated | Restricted | Total | Total | ||||
| Note | funds 6 |
Funds 6 |
funds | 2023 6 |
2022 6 |
|||
| Net movement | In funds | 4,218,591 | 577,000 | 4,795,591 | 912,561 | |||
| Reconciliation | offunds: | |||||||
| Total funds brought | forward | 22 | 997,334 | 559,000 | 2,582 | 1,558,916 | 646,355 | |
| Total funds carried | forward | 22 | 5,215,925 | 1,136,000 | 2,582 | 6,354,507 | 1,558,916 |
| Balance Sheet s at31March 2023 |
||||
|---|---|---|---|---|
| Note | 2023 | 2022 | ||
| f | f | |||
| Fixed assets | ||||
| Tangible assets | 15 | 506,398 | 604,647 | |
| Investments in subsidiaries |
16 | 1 | 1 | |
| 506,399 | 604,648 | |||
| Current assets | ||||
| Stocks | 17 | 16,446 | 15,771 | |
| Debtors | 18(a) | 881,589 | 634,151 | |
| Cash | 24 | 13,042,143 | 11,672,333 | |
| 13,940,178 | 12,322,255 | |||
| Creditors: | ||||
| Amounts falling due within one year |
20 | (8,092,07II7 | ~8,227,9877 | |
| Net current assets | 5,848,108 | 4,094,268 | ||
| Total assets less current | liabilities | 6,354,507 | 4,698,916 | |
| Creditors falling due after more than one year | ||||
| Defined benefit pension | liability | 13(c),(I) | (3,140,000) | |
| Net esse'ts | 6,354,507 | 1,558,916 | ||
| The funds ofthe charity: | ||||
| Restricted funds | 22 | 2,582 | 2,582 | |
| Unrestricted funds |
||||
| Revenue funds | 22 | 5,215,925 | 4,137,334 | |
| Pension reserve | 22 | (3,140,000) | ||
| General | 5,215,925 | 997,334 | ||
| Designated funds |
22 | 1,136,000 | 559,000 | |
| Totalfunds | 6,354,507 | 1,558,916 |
| Statement ofCash Flows | |||||
|---|---|---|---|---|---|
| forthe year ended 31March 2023 | |||||
| Note | 2022/23 | 2021/22 | |||
| 6 | 6 | ||||
| Net cash generated in operating activities |
24 (a) | 1,132,847 | 3,612,969 | ||
| Cash flows from investing activities |
|||||
| Interest received | 236,963 | 328 | |||
| Purchase oftangible fixed assets | (165,708) | ||||
| Disposal oftangible fixed assets |
|||||
| Net cash used in investing activities |
236,963 | (165,380) | |||
| Cash flows from financing activities | |||||
| Government grant —Culture Recovery Fund |
|||||
| Government grant —Coronavirus Job Retention |
Scheme | 144,998 | |||
| Cash inflow from financing activities |
144,998 | ||||
| Increase in cash and cash equivalents |
24 (b) | 1,369,810 | 3,592,587 | ||
| Cash and cash equivalents at the beginning |
of | the year | 11672 333 | 8079 746 | |
| Cash and cash equivalents at the end ofthe year |
24 (c) | 13,042,143 | 11,672,333 |
| Unrestricted | Unrestricted | |||||
|---|---|---|---|---|---|---|
| General | Designated | Restricted | Tota I | |||
| funds | Funds | funds | 2022 | |||
| E | E | E | E | |||
| Income from | ||||||
| Donations and legacies |
85,678 | 85,678 | ||||
| Charitable activities: |
||||||
| Operation ofTheatre | 7,062,330 | 7,062,330 | ||||
| Other including Government |
Grant funding | 176,998 | 176,998 | |||
| Investments | 328 | 328 | ||||
| Misc. income | 13,215 | 13,215 | ||||
| Total income | 7,338,549 | 7,338,549 | ||||
| Expenditure | ||||||
| Expenditure on charitable |
activities: | |||||
| Operation ofTheatre | (7,307,323) | (36,764) | (721,901) | (8,065,988) | ||
| Total expenditure | (7,307,323) | (36,764) | (721,901) | (8,065,988) | ||
| Net income/(expenditure) | 31,226 | (36,764) | (721,901) | (727,439) | ||
| Actuarial gains/(losses) pension schemes |
on | defined benefit | 1,640,000 | 1,640,000 | ||
| Transfer to designated | funds | (50,831) | 500,667 | (449,836) | ||
| Net movement in funds |
1,620,395 | 463,903 | (1,171,737) | 912,561 |
| Unrestricted | Unrestricted | Restricted | 2023 | 2022 | |||
|---|---|---|---|---|---|---|---|
| General f |
Designated | f | f | f | f | ||
| Individual | Giving Scheme | 1,571 | 1,571 | 2,413 | |||
| Other donations | 157,709 | 10,899 | 168,608 | 83,265 | |||
| 159,280 | 10,899 | 170,179 | 85,678 |
| 2023 | 2022 | |||||||
|---|---|---|---|---|---|---|---|---|
| Turnover | Cost of | Net income | Turnover | Cost ofsales | Net income | |||
| Unrestricted | funds | E | sales | E | f | E | E | |
| E | ||||||||
| gox office (incl. booking fee) |
14,872,108 | (9,330,598) | 5,541,510 | 6,104,189 | (2,848,270) | 3,255,919 | ||
| Ancillary | 568,153 | (262,798) | 305,355 | 302,541 | (145,935) | 156,606 | ||
| Catering | &bar | 1,025,777 | (264,923) | 760,854 | 458,265 | (116,764) | 341,501 | |
| Memberships | 215,033 | 215,033 | 123,254 | 123,254 | ||||
| Creative | Engagement | 105,948 | (64,812) | 41,136 | 30,555 | (23,406) | 7,149 | |
| Miscellaneous | 50,106 | 50,106 | 43,526 | 43,526 | ||||
| 16,837,125 | 9,923,131 | 6,913,994 | 7,062,330 | (3,134,375) | 3,927,955 |
| Other | |||||||
|---|---|---|---|---|---|---|---|
| 2023 | 2022 | ||||||
| 6 | f | ||||||
| Sponsorship | 37,724 | 32,000 | |||||
| Government | grant | (Cultural | Recovery Fund) | 0 | 0 | ||
| Government | grant | (Coronavirus | Job Retention | Scheme) | 0 | 144,998 | |
| 37724 | 176,998 |
| 2023 | 2022 |
|---|---|
| 6 | E |
| 236,963 | 328 |
| 2023 | 2022 |
|---|---|
| E | E |
| 0 | 13,215 |
| Unrestricted | Unrestricted | Restricted | 2023 | 2022 | ||
|---|---|---|---|---|---|---|
| General | Designated | funds | ||||
| funds | funds | |||||
| Cost ofcharitable | activities: | |||||
| Cost ofsales (see | note 5) | 9,923,131 | 9,923,131 | 3,134,375 | ||
| Marketing | 695,002 | 695,002 | 661,632 | |||
| Boxoffice | 493,872 | 493,872 | 391,497 | |||
| Front ofhouse management | 1,052,848 | 1,052,848 | 782,062 | |||
| Building overhead | costs | 1,117,833 | 10,899 | 1,128,732 | 1,189,330 | |
| Development | 49,842 | 49,842 | 43,582 | |||
| Technical | 940,026 | 940,026 | 802,119 | |||
| Creative Engagement | 127,645 | 127,645 | 107,318 | |||
| Depreciation | 98,248 | 98,248 | 27,462 | |||
| Support costs (see | note 10) | 1,103,511 | 1,103,511 | 918,689 | ||
| Governance costs | (see note 10) | 13,543 | 13,543 | 7,921 | ||
| Total cost ofcharitable activities | 15,615,501 | 10,899 | 15,626,400 | 8,065,988 |
| Support costs | Governance | 2023 | 2022 | ||
|---|---|---|---|---|---|
| (Note 9) | (Note 9) | ||||
| f | 6 | E | |||
| Central | Office, Admin & HR | 646,872 | 646,872 | 312,758 | |
| Finance | Office | 250,512 | 250,512 | 287,378 | |
| Information Technology |
206,127 | 206,127 | 318,553 | ||
| Internal | Audit | 3,043 | 3,043 | ||
| External | Audit | 10,500 | 10,500 | 7,921 | |
| Total | 1,103,511 | 13,543 | 1,117,054 | 926,610 |
| et incom | e/(expenditure) | is stated after charging: | ||
|---|---|---|---|---|
| 2023 | 2022 | |||
| 6 | E | |||
| Depreciation oftangible |
fixed assets | 98,248 | 94,695 | |
| Operating | lease rentals | —plant &equipment | ||
| Auditors' | remuneration | |||
| Audit fee | 10,500 | 10,000 | ||
| Directors' | and officers' | liability insurance | 2,604 | 2,593 |
| Cost ofstock recognised | as an expense —stock write off | 0 | 5,035 |
| The costs incurred in respect ofemployees |
were: | |
|---|---|---|
| 2023 | 2022 | |
| E | E | |
| Wages and salaries | 2,656,864 | 2,274,690 |
| Social security costs | 210,039 | 180,060 |
| Pension charges | 333,439 | 293,153 |
| 3,200,342 | 2,747,903 |
| r ofem | ployees earning |
over E60,000,exc | luding pen |
|---|---|---|---|
| 2023 | 2022 | ||
| Number | Number | ||
| E60,001 | —E70,000 | 1 | 2 |
| E90,001 | - E100,000 | 1 | 1 |
| on including employer p |
ension and natio | nal insuran |
|---|---|---|
| 2023 | 2022 | |
| Number | Number | |
| E50,001 - E60,000 | 2 | 1 |
| E60,001 —E70,000 | ||
| E70,001 - E80,000 | ||
| E80,001 —E90,000 | ||
| E90,001 - 6100,000 | ||
| E120,001 —E130,000 | ||
| E140,001 - E150,000 |
| ension expense for the accounting year ending 31 | ension expense for the accounting year ending 31 | March 2024 (continued) |
|---|---|---|
| Analysis ofamounts charged to profit and loss |
Period ending 31March 2024 | |
| Em | ||
| Current service | cost | 0.38 |
| Net interest on | net defined benefit liability |
0.13 |
| Total estimated | pension expense | 0.25 |
| Reconci | liation ofpension liability |
|
|---|---|---|
| Opening | pension liability at 1April 2022 |
(3,060,000) |
| Current | service cost | (980,000) |
| Interest | on net defined benefit liability | (70,000) |
| Contributions attributable to the employer |
300,000 | |
| Curtailments | ||
| Actuarial | gains/(losses) | 6,490,000 |
| Pension | asset value not recognised (as per FRS102para 28.22) |
(2,680,000) |
| Closing | pension liability at 31March 2023 |
| re: | ||||
|---|---|---|---|---|
| Assumptions | 31March 2023 | 31March 2022 | 31March 2021 | |
| 9fi | Yo | Yo | ||
| Discount rate | 4.70% | 2.70% | 2.10'Yo | |
| CPI inflation | 2.709o | 2.90% | 2.70'Yo | |
| Pension accounts revaluation | rate | 2 709o | 2.90% | 2.70'% |
| Pension increases | 270% | 290 o | 2 709f | |
| Sala increases |
420% | 4 40Yo | 4.20Yo |
| Mortality assumptions | 31March 2023 | 31March 2022 | ||||
|---|---|---|---|---|---|---|
| Years | Years | |||||
| Males | ||||||
| Pension member aged 65at accounting |
date | 21.6 | 21.8 | |||
| Active member aged 45 at accounting | date | 22.9 | 23.5 | |||
| Females | ||||||
| Pensioner member aged 65at accounting date |
24.6 | 25.0 | ||||
| Active member aged 45 at accounting | date | 26.1 | 26.7 | |||
| Asset allocation | Value at | Value at | ||||
| 31March 2023 | 31March 2022 | |||||
| E uities | 51.2% | 57.09o | ||||
| Property | 10.5% | 8.49S | ||||
| Government bonds |
1.39o | 2,09o | ||||
| Corporate bonds | 19.5% | 18.8Yo | ||||
| Multi Asset Credit | 4.59o | 0.09S | ||||
| Cash | 1.89o | 1.8Yo | ||||
| Other | 11290 | 12 OoA | ||||
| Tota I | 100.09o | 300.0' | ||||
| (f) | Reconciliation offunded status to Balance Sheet | |||||
| value asat | Value as at | |||||
| 31March 2023 | 31March 2022 | |||||
| 6 | 6 | |||||
| Fair value ofassets | 14,960,0000 | 14,600,0000 | ||||
| Present value offunded | defined benefit obligation | (12,280,000) | (17,660,000) | |||
| Pension asset value not | recognised | (as | per FRS102para 28.22) | (2,680,000) | ||
| Funded status - liability | recognised | on | the balance sheet | 0 | (3,060,000) |
| Amounts recognised in inc |
ome statement | ||
|---|---|---|---|
| Year ending | Year ending | ||
| 31March 2023 | 31March 2022 | ||
| 6 | 6 | ||
| Operating cost | |||
| Current service cost | 980,000 | 1,010,000 | |
| Financing cost | |||
| Interest on net defined benefit liability | 70,000 | 90,000 | |
| Pension expense recognised | in income statement | 1,050,000 | 1,100,000 |
| Year ending | Year ending | |||||
|---|---|---|---|---|---|---|
| 31March | 31March 2022 | |||||
| 2023 | 6 | |||||
| 6 | ||||||
| Asset gains/(losses) arising |
during the year | 7,540,000 | 470,000 | |||
| Liability gains/(losses) arising during the year |
(1,050,000) | 1,970,000 | ||||
| Total amount recognised |
in other comprehensive | income | 6,490,000 | 2,440,000 | ||
| (i) | Changes tothe | present | value ofthe defined benefit obligation | |||
| Year ending | Year ending | |||||
| 31March | 31March 2022 | |||||
| 2023 | 6 | |||||
| Opening defined | benefit obligation | 17,660,000 | 18,370,000 | |||
| Current service cost | 980,000 | 1,010,000 | ||||
| Interest expense | on defined benefit obligation | 470,000 | 380,000 | |||
| Contributions attributable |
to the participants | 140,000 | 140,000 | |||
| Actuarial (gains)/losses on |
liabilities | (6,670,000) | (1970000) | |||
| Net benefits paid | out | (300,000) | (270,000) | |||
| Curtailment cost |
||||||
| ClosIng present value ofliabilities | 12,280,000 | 17,660,000 | ||||
| (j) | Changes to the | fair value | ofassets | |||
| Year ending | Year ending | |||||
| 31March 2023 | 31March 2022 | |||||
| 6 | 6 | |||||
| Opening fair value | ofassets | 14,600,000 | 13,680,000 | |||
| Interest income on assets | 400,000 | 290,000 | ||||
| Re-measurement | gains/(losses) on assets |
(180,000) | 470,000 | |||
| Contributions attributable |
to the employer | 300,000 | 290,000 | |||
| Contributions attributable |
to the participants | 140,000 | 140,000 | |||
| Net benefits paid |
out | (300,000) | (270,000) | |||
| Closing fair value | ofassets | 14,960,000 | 14,600,000 |
| Actual re | turn | on assets | ||
|---|---|---|---|---|
| Year ending | Year ending | |||
| 31March 2023 | 31March 2022 | |||
| 6 | f | |||
| Interest income on assets | 400,000 | 290,000 | ||
| Gain/(loss) | on | assets | (180,000) | 470,000 |
| Actual return | on assets | 220,000 | 760,000 |
| 15 Tangible assets | |||||
|---|---|---|---|---|---|
| Buildings | Other | Computer | BoxOffice &HR | Total | |
| Rncl. leasehold | EquIpment | Equipment | systems | ||
| improvements) | |||||
| 6 | |||||
| Cost | |||||
| At 1April 2022 | 1,354,342 | 310,371 | 52,200 | 244,741 | 1,961,654 |
| Additions during the year |
|||||
| Disposals | f275 179) | 275,179) | |||
| At 31March 2023 | 1,079,163 | 310,371 | 52,200 | 244,741 | 1,686,475 |
| Accumulated depreciation |
|||||
| At 1April 2022 | 798,087 | 306,743 | 52,200 | 199,978 | 1,357,008 |
| Charge for the year | 84,748 | 2,420 | 11,080 | 98,248 | |
| Disposals | l275 179) | l275,179) | |||
| At31March 2023 | 607,656 | 309,163 | 52,200 | 211,058 | 1,180,077 |
| Net book value | |||||
| At31March 2023 | 471,508 | 1,208 | 33,683 | 506,398 | |
| At 31March 2022 | 556,255 | 3,628 | 44,763 | 604,647 |
| Prior year | note | |||||
|---|---|---|---|---|---|---|
| Buildings | Other | Computer | BoxOffice & | Total | ||
| gael. leasehold | Equipment | Equipment | HR systems | |||
| improvements) | ||||||
| 8 | ||||||
| Cost | ||||||
| At 1April | 2021 | 1,198,015 | 310,371 | 52,200 | 235,360 | 1,795,946 |
| Additions | during the year | 156,327 | 9,381 | 165,708 | ||
| oisposals | ||||||
| At 31March 2022 | 1,354,342 | 310,371 | 52,200 | 244,741 | 1,961,654 | |
| Accumulated depreciation |
||||||
| At 1April | 2021 | 723,371 | 304,323 | 52,200 | 182,418 | 1,262,312 |
| Charge forthe year | 74,716 | 2,420 | 17,560 | 94,695 | ||
| oisposa Is | ||||||
| At31March 2022 | 798,087 | 306,743 | 52,200 | 199,978 | 1,357,007 | |
| Net book | value | |||||
| At 31INarch 2022 | 556,255 | 3,628 | 44,763 | 604,647 | ||
| At31March 2021 | 474,644 | 6,048 | 52,942 | 533,634 |
| 17 Stock | ||||
|---|---|---|---|---|
| 2023 | 2022 | |||
| 6 | 6 | |||
| Goods for resale | 16,446 | 15,771 | ||
| 18 Debtors | ||||
| 2023 | 2022 | |||
| Trade debtors | 94,320 | 61,708 | ||
| Subsumption | security monies held by Newcastle | City Council —note 19 | 380,000 | 380,000 |
| Other debtors | 126,422 | 56,428 | ||
| Prepayments | and accrued income | 280,847 | 136,015 | |
| 881,589 | 634,151 |
| Creditors: amounts falling due within one y |
ear | |
|---|---|---|
| 2023 | 2022 | |
| Trade creditors | 1,348,379 | 1,287,985 |
| Taxation and social security | 131,510 | 270,091 |
| Other creditors | 47,561 | 101,896 |
| Accruals | 711,267 | 637,596 |
| Deferred income (note 21) | 5,853,353 | 5,930,419 |
| 8,092,070 | 8,227,987 |
| Balance | as at 1April 2022 | 5,930,419 | |
|---|---|---|---|
| Amount | released to income earned from charitable | activities | (13,727,818) |
| Amounts | refunded net ofshow transfers |
(287,172) | |
| Amount | ofadvanced receipts at year end |
13,937,924 | |
| Balance | as at31March 2023 | 5,853,353 | |
| Balance | as at 1April 2021 | 3,367,625 | |
| Amount | released to income earned from charitable | activities | (3,083,935) |
| Amounts | refunded net ofshow transfers |
(283,690) | |
| Amount | ofadvanced receipts at year end |
5,930,419 | |
| Balance | as at 31March 2022 | 5,930,419 |
| Unrestricted | Restncted | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Revenue | Pension | Designated | Unrestricted | Restnctsd | |||||
| funds | reserve | Suh total | funds | Funds | Funds | Total | |||
| f | |||||||||
| At 1April | 2022 | 4,137,334 | (3,140,000) | 997,334 | 559,000 | 1,556,334 | 2,582 | 1,558,916 | |
| Net incoming/ | (outgoing) | ||||||||
| resources | for the year | 1,655,591 | 1,655,591 | 1,655,591 | 1,655,591 | ||||
| Transfers | |||||||||
| (577,000) | (577,000) | 577,000 | |||||||
| Actuarial | Gain/Loss | 3,140,000 | 3,140,000 | 3,140,000 | 3,140,000 | ||||
| At31March 2023 | 5,215,925 | 5,215,925 | 1,136,000 | 6,351,925 | 2,582 | 6,354,507 | |||
| Unrestricted | Restricted | ||||||||
| Previous | year | Revenue | Pension | Designated | Unresulcu. d | Restricted | |||
| funds | reserve | Sua-total | funds | Funds | Funds | Total | |||
| At 1April | 2021 | 4,156,939 | (4,780,000) | (623,061) | 95,097 | (527,964) | 1,174,319 | 646,335 | |
| Net incoming/(outgoing) resourcesfor the year |
31,226 | 31,226 | (36,764) | (5538) | (721901) | (727439) | |||
| Transfers | (50,831) | (50,831) | 500,667 | (44 ~ 36) |
(449,836) | ||||
| Actuarial | loss | 1,640,000 | 1,640,000 | 1,640,000) | 1,640,000 | ||||
| At 31March 2022 | 4,137,334 | (3,140,000) | 997,334 | 559,000 | 1,556,334 | 2,582 | 1,558,916 |
| Unrestricted | Designated | RestrIcted | Total | ||
|---|---|---|---|---|---|
| funds | funds | funds | 2023 | ||
| f | f | ||||
| Tangible | fixed assets | 506,398 | 506,398 | ||
| Investment in subsidiary |
|||||
| Current | assets &long term debtor | 12,801,596 | 1,136,000 | 2,582 | 13,940,178 |
| Current | liabilities | (8,092,070) | (8,092,070) | ||
| Pension | liability | ||||
| Total net assets as at 31March 2022 | 5,215,925 | 1,136,000 | 2,582 | 6,354,507 | |
| Previous | year | Unrestricted | Designated | Restricted | Total |
| funds | funds | funds | 2022 | ||
| f | |||||
| Tangible | fixed assets | 604,647 | 604,647 | ||
| Investment in subsidiary |
|||||
| Current | assets & long term debtor | 11,760,673 | 559,000 | 2,582 | 12,322,255 |
| Current | liabilities | (8,227,987) | (8,227,987) | ||
| Pension | liability | (3,140,000) | (3,140,000) | ||
| Total net assets as at 31March 2021 | 997,334 | 559,000 | 2,582 | 1,558,916 |
| ) Reconciliation of |
net outgoi | ng | resources to | net cash | used in operati | ng activities |
|
|---|---|---|---|---|---|---|---|
| 2023 | 2022 | ||||||
| 6 | 6 | ||||||
| Net outgoing resources | 4,795,591 | 912,561 | |||||
| Depreciation | 98,248 | 94,695 | |||||
| Government grants |
receivable | (144,998) | |||||
| Bad debt provision | |||||||
| (Decrease)/Increase | in pension | liability | (3,140,000) | (1,640,000) | |||
| Interest receivable | (236,963) | (328) | |||||
| (Increase)/Decrease | in stocks and work in progress | (675) | (11,101) | ||||
| Decrease in advance | contribution | payment to | Newcastle | City Council | 236,418 | ||
| Decrease/(Increase) | in debtors | (121,772) | 365,184 | ||||
| Increase/(Decrease) | in creditors | (261,584) | 3,800,538 | ||||
| Net cash (used in)/generated | from operating | activities | 1,132,845 | 3,612,969 | |||
| Analysis ofchanges | in net cash | &net debt | |||||
| At | 1April 2022 | Change in year |
At 31March 2023 | ||||
| Cash at bank and in | hand | 8,482,424 | 4,559,719 | 13,042,143 | |||
| Cash held with Newcastle City |
Council | 3,189,909 | (3,189,909) | ||||
| Net cash | 11,672,333 | 1,369,810 | 13,042,143 |
| At 31 | At 31 | ||||||
|---|---|---|---|---|---|---|---|
| March | March | ||||||
| 2023 | 2022 | ||||||
| 6 | E | 6 | 6 | 6 | |||
| Other | Office | Total | Other | Office | Total | ||
| equipment | equipment | equipment | equipment | ||||
| Notlaterthan | 1year | 1,773 | 1,719 | 3,492 | 1,258 | 1,719 | 2,977 |
| Later than 1 | year and not | ||||||
| later than 5years | 1,056 | 1,056 | 2,775 | 2,775 | |||
| 1,773 | 2,775 | 4,548 | 1,258 | 4,494 | 5,752 |