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2023-07-31-accounts

The Lace Market Theatre Trust Limited (A company limited by guarantee)

Trustees' Report and Financial Statements for the year ended 31 July 2023

Registered Charity Number: 506730 Company Number: 01323050

The Lace Market Theatre Trust Limited (A company limited by guarantee)

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Contents

Page
Trustees' Report 1-16
Independent Examiner's Report Tt
Statement of Financial Activities 18
Balance Sheet 19
Statement ofCash Flows 20
Notesforming part ofthe Financial Statements 21 - 31
The followingschedulesdo notformpartofthe statutoryaccounts
Statistical Review 32
DetailedStatementofFinancialActivities 33-36

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THE ANNUAL REPORT OF THE TRUSTEES OF THE LACE MARKET THEATRE TRUST LTD (a company limited by guarantee) From 15t August 2022 to 315t July 2023

Reference and Administration Details

Charity Name:

The Lace Market Theatre Trust Limited

Registered Charity Number: 506730 Company Registration Number: 1323050 Charity’s Registered Office: The Lace Market Theatre Halifax Place Nottingham NGi 1QN

The Trustees and officers serving during the year were as follows:

Names of the Directors of the Charitable Company and its Charity Trustees

Officers Officers
John MichaelAnthony FCA
NevilEdmund Croston
Micah Darmola
DavidDunford PO
NicholasGale PC
Resigned 02.04.2023
Philip Hogarth Pp
MathewHuntbach el
Gareth MarkMorris
KeithAlan Parkinson Resigned02.04.2023
Gillian Scott Resigned02..04.2023
Helen Sharp
EileenPatriciaStewart
MatildaStickle

Names ofAdvisers

Advisor Bankers Barclays Bank PLC 2 High Street Nottingham NG1 2EN Independent RPEIllis FCA 414 Newark Road, Examiner Lincoln, LN6 8RX Station Street, Mansfield Solicitors Messrs Bryan & Armstrong | The New Meeting House Nottinghamshire, NG18 1EF

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REPORT OF THE TRUSTEES / DIRECTORS FOR THE YEAR ENDING 31ST JULY 2023 (hereinafter referred to as ‘the Trustees’)

The Trustees present their Annual Report together with the Financial Statements of the Charity for the year ended 31st July 2023 which are also prepared to meet the requirements for a Directors’ Report and Accounts for Companies Act 2006 purposes. The Financial Statements comply with the Charities Act 2011, the Companies Act 2006, the Articles of Association and the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP (FRS 102)).

Introduction

The Lace Market Theatre celebrated its centenary year with a Gala event held in November 2022.

Queen’s Award for Voluntary Service

The Lace Market Theatre had the honour of being awarded the Queen’s Award for Voluntary Service. This is the equivalent of an MBE and is granted to organisations run by volunteers. The award was formally presented by the Lord Lieutenant of Nottinghamshire on the 4th September 2022. The Theatre was represented at a garden party held by the Lord Lieutenant Sir John Peace for receivers of Jubilee Honours on 26th June 2022.

The Trustees are very grateful for the support of local MPs and Martin Berry of the Playhouse Theatre (and a former member of the Lace Market Theatre) relating to the award.

A Gala Night to celebrate the award was held on 12th November 2022, attended by three Deputy Lord Lieutenants and the Mayor of Nottingham. Four Members had the honour of accepting the Lord Chamberlain’s invitation to attend a Buckingham Palace Garden Party on 9th May 2023. (A further four places are available for 2024).

Chair

Gareth Morris was elected by the Trustees as Chair for a second year after a successful inaugural year.

Remuneration

None of the Trustees or any person connected with them are remunerated, nor have they received expenses with the exception of those who were reimbursed for expenses incurredmaterials onfor costumes,behalf of the feesCharity to statutorysuchauthoritiesas postage,(e.g.printing,Companiesstage House)prop purchase,etc. There are no employees of the Charity which relies solely on volunteers.

No person or organisation receives any ‘private benefits’ other than as a participant of the Charity.

Structure and Governance

The Charity’s Trustees also act as the Company's Board of Directors (‘the Board’) for the purposes of charity and company law. They are appointed in accordance with the Company's Articles of Association, which is the governing document. They are responsible for the general control and management of the administration of the Charity. The Board can have up to 12 Members.

The Charity/Company is a Company limited by guarantee and was incorporated on 26th July 1977. The Memorandum and Articles of Association were amended on 12 March 2006. The Memorandum and Articles of Association were further amended by Special Resolution at the AGM held on 20% March 2022 to provide for electronic communications and holding of hybrid meetings of the Trustees and Members, to modernise some of the language and to amalgamate the old Memorandum into the Articles of Association. It is registered as a charity with the Charity Commission and at Companies House as a company.

The Trustees are elected at the Charity/Company’s Annual General Meeting or coopted onto the Board depending on the Charity’s requirements and the individual's expertise. One half of the Trustees automatically resign each year under the Articles of Association, although the resigning Trustees are eligible for re-election. The Board consists of 8 males and 3 females currently.

the Charities Act 2011, and the Charity (Accounts and Reports) Regulations 2008. Formal returns have to be made to Companies House (Accounts by 30* April and Confirmation Statement by 14th August) and the Charity Commission (Annual Return by 315t May).

The Trustees have produced a Members’ Theatre Handbook setting out various policies and procedures and which is available on the website, together with the Information Security Policy.

The Trustees are also responsible for safeguarding the assets ofthe Charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Charity conducts its business, taking into account the guidance contained in the Charity Commission’s Guidance on Public Benefit when reviewing its aims and objectives, and in planning the future activities.

The Board annually reviews the structure and organisation of the Lace Market Theatre Trust Ltd and produced a revised Business Plan in 2023. This includes an ongoing programme of refurbishment.

Every Member is a member of the Charity Company and pledges to pay £1.00 each in the event of the Company being dissolved. In the year there were a total of 256 (238) Members, adults 103 (100), senior citizens 79 (77), students 13 (13), unemployed5 (6), disabled 3 (2), temporary 5 (5), life members 20 (20) and Youth Group 28 (15).

The figures in brackets are for the previous year. Membership suffered as a result of the pandemic Covid-19, referred to elsewhere in this report and the consequent closure of the Theatre for the whole of the previous season.

The membership is not restricted by geography, with Members coming from a wide area of the East Midlands. No other restrictions such as gender, race, sexual orientation, age, religion, disability or other matters apply to the membership. The Members’ subscriptions are considered to be modest in comparison with other similar organisations and certainly when compared with the professional theatre. New members’ details are passed to the heads of department in which new members have expressed an interest and the heads of department encourage participation and act as a contact for new Members.

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The Charity operates from its freehold premises at Halifax Place, Nottingham and a rented unit for the wardrobe department at Unit 2, 248 Radford Boulevard, Nottingham, NG7 5QG.

Charitable Purposes and Objects

The principal objects of the Charity, under the Articles of Association, remain to promote, maintain, improve and advance education, particularly by the production of plays and the encouraging of the arts including drama, ballet, music, singing, literature, sculpture and painting (Article A 3 (a) (1).

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The other main object is the preservation, for the benefit of the public, of the building of historical and architectural interest in Halifax Place, known as The Lace Market Theatre (Article A 3 (a) (2)).

These fall within descriptions of charitable purposes set out in the Charities Act.

The Trustees seek to ensure that the programme of productions remain affordable and attractive and to run the Theatre as economically as possible. The breadth and accessibility of the artistic programme demonstrate the benefit that the Theatre’s work brings to the public and the community.

Activity in the Period

The Lace Market Theatre depends on its voluntary membership to run its facilities and achieve its objectives. Members become involved in the technical aspects of running productions and theatre hires.

The Trustees normally meet bi-monthly, with additional meetings arranged if necessary. A number of additional meetings took place as a result of the Covid-19 situation.

Many of the routine responsibilities are co-ordinated by the Theatre Management Committee (TMC). The TMC is responsible for keeping the Theatre running on a day to day basis. The TMC Chair reports back to the Board at each Board meeting. Working parties are involved in redecorating, repair and maintenance of the Theatre building itself, with delegated powers and budgets. The TMC oversees sub-groups, such as the Bar, Production Group, Artistic Group, Admin and IT, Membership, Publicity and Marketing, Finance, Customer Services. The Board undertakes a strategic role.

Board meetings and all other management meetings are open to the whole membership to attend as observers. The Trustees endeavour to encourage involvement at Board level, particularly from the younger Members of the Charity. The Board Members are from a wide age spectrum. Co-option to the Board takes place occasionally where particular skills are offered.

A Health & Safety Group is responsible for health and safety, access, fire prevention and emergency procedures.

The Theatre holds occasional open nights for the public to enable them to visit behind the scenes at the Theatre. This encourages interest in the Theatre generally and also assists in membership recruitment.

There is a co-ordinator for Group Bookings encouraging local groups and private parties to bring groups of 12 or more people to performances. This raises the profile of the Theatre and makesa significant contribution to its finances. Groups engaged in the period included several branches of U3A (University of the Third Age), Rotary, a firm of solicitors, Nottingham High School and King Edward School, Birmingham.

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All actors, backstage crew such as lighting, sound, props, costume, set builders, etc., and front of house, come from the voluntary membership ofthe Charity.

Twinning

Every two years the Lace Market Theatre undertake exchange visits with two theatres in Karlsruhe, Germany, Die Kauze and Jakobus. This twinning arrangement has been in place for since 1982. Jakobus visited Nottingham in 2022. Die Kauze were unable to be in physical attendance but joined the final night presentations via Zoom.

The next exchange is planned for March 2024 when the Lace Market Theatre will take two productions to Karlsruhe. A Shakespeare play at the request of Die Kauze (Romeo and Juliet) and a comedy, Shakers Restirred (John Godber) to Jakobus. The planning for this visit has commenced and will be the first visit to Germany since Covid 19 prevented the previously scheduled visit to Karlsruhe.

Artistic Review

Each year a Play Advisory Group (‘PAG’), with its participants changing each year, make recommendations to the Board / Trustees for the artistic programme for the forthcoming season. This involves substantial work in reading plays and researching the availability of licences for public performance, royalties and setting a proposed calendar. The shortlist of plays and the schedule for performances usually provides lively debate before the final programme is fixed and presented for approval by the AGM.

Under the chairmanship of David Dunford PAG’s 2022-2023 season marked the first complete season of 14 productions since the Covid pandemic. It was extremely pleasing to note that the Theatre operated at 82.35% capacity across the season and Box Office took a record £96,016. The season, in theatrical terms, runs from September to July each year.

The Theatre continued its tradition of presenting a mix of challenging plays, together with plays from recognised classic playwrights and to finish the season a musical ‘Salad Days’.

The plays staged were ‘Vincent in Brixton’ (Nicholas Wright), ‘Medea’ (Euripides adapted by Ben Power), ‘Escaped Alone’ (Caryl Churchill), ‘Hay Fever’ (Noel Coward), ‘The Flint Street Nativity’ (Tim Firth), ‘Constellations’ (Nick Payne), ‘Handbagged’ (Moira Buffini), ‘The Government Inspector’ (Nicholas Gogol, specially adapted for LMT by Philip Goulding), ‘The Son’ (Florian Zeller), ‘Towards Zero’ (Agatha Christie), ‘Something Unspoken / Suddenly Last Summer’ (Tennessee Williams), and ‘Measure for Measure’ (Shakespeare).

‘Vincent in Brixton’, ‘Constellations’ and ‘Towards Zero’ sold out. The lowest house was the Tennessee Williams double bill at 56.57%.

Reviews of the season were universally positive with the shows reviewed in local media receiving at least a four star rating, with one show achieving 5 stars.

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A total of 91 actors performed during the season, with 46 people being new to LMT or appearing for the first time since at least 2016. The productions had the stalwart backing of directors and assistant directors, stage managers and assistant stage managers, designers, including sound, lighting and costume designers, house managers and front of house personnel, box office, bar and coffee bar staff, in addition to set building, casting advisers, props, prompts, photography, publicity, librarian, health and safety officers, etc. The Board gives huge thanks to all volunteers, but particularly to those who undertake behind the scenes roles and without whom the Theatre would be impossible to operate.

In a Nottingham tourist guide the Lace Market Theatre is described as “ambitious, progressive and ultra-friendly ... ... is Nottingham’s most talented amateur dramatics society by a long stretch ... ... it takes a professional approach to productions ... ...”

A group of Members organise a monthly programme of ‘Lunchtime Theatre’, including presentations by both Members and external speakers and other activities to live attendees and with others joining via streaming facilities. The Trustees approve a budget and technical assistance for this group.

Outreach

Outreach activity includes a number of external activities. Productions can be taken to outside venues. In the period, ‘Hang’, a challenging play, was performed at Queens Walk, (a mainly Afro-Caribbean venue). Students have worked alongside creative teams on backstage activity. Costumes were provided to a musical theatre training course run annually at Lancaster University. A workshop / question and answer session took place at King Edward’s School in Birmingham after some of their GCSE students had seen the production of ‘The Government Inspector’. Members attended the Little Theatre Guild Regional Conference.

The latest information for audience attendances up to 31 July 2023 were 1075 for Studio productions and 6939 for the main auditorium. This compares with figures for 2021 / 2022 of 541 and 5832 respectively. Numbers which were very encouraging.

NANDA (Nottingham and Nottinghamshire Drama Association)

The Trustees are pleased to report another successful awards season, with Best Actor for ‘Constellations’ going to Ben Gilbert.

There were also honourable mentions.

Youth Group and Safeguarding

The Charity operates a Youth Group which was particularly active prior to the lockdown. Membership costs £50 per annum. This is a group run by committed volunteers each Saturday. The Trustees would appeal to anyone who has spare time to assist with this lively group. Their production of ‘Lost’ by Alan Heskith was a challenging and innovative piece, with a cast of 32 playing 22 roles in a play about the children of the Holocaust era.

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There is a significant turnover in the Youth Group due to the Youth Group age limit being reached and / or members moving on to further education. Recruiting young men and general diversity remains a particular issue for this group.

The Trustees have a Child and Young Person Protection Policy and a Child Protection Officer. The policy is reviewed annually. There is also a Vulnerable Adults Policy.

All adult youth group volunteers are DBS (Disclosure and Barring Service) checked and any children / young people involved in main Theatre productions have individual accredited chaperone supervision. The Trustees have current safeguarding policies and procedures in place and have a Body of Approval Licence from Nottingham City Council.

Due note has been taken of the focus by the Charities Commission on safeguarding issues and that trustees of charities working with children and other vulnerable groups must promote their welfare and protect them from harm.

In the period of this Report there was one minor safeguarding child protection issue, but this did not need to be escalated as the parents had been aware and dealt with it.

Focus Group

A Focus Group has been established which meets occasionally with the aim of creating a closer rapport between the Membership and the Board of Trustees. This group is being co-ordinated by younger Members and reports to the Trustees. It has provided useful feedback to inform the Trustees’ thinking and which, together with the additional strategic work meetings, should enable better planning for the future.

Training and Grant Provision

All Members have the opportunity to undertake informal training and gain skills in stagecraft and all other aspects oftheatre. There is also an active community and social life with a number of events during each year.

Students studying drama at drama schools and universities and students of Theatre related studies may be supported by small grants payable in instalments on proof of continuing study and achievement on their courses. This sponsorship helps to achieve thethose Trust’s objectswith involvement which includein the Lace the advancementMarket Theatre, of education.or who havePreferencea connectionisgivenwi t ho Nottingham.

In furtherance of its objectives, the Theatre undertakes occasional outreach activities (see elsewhere in this report).

The Lace Market Theatre is represented at the Little Theatre Guild and NANDA.

A project of collaboration with Nottingham Playhouse involves the provision of a bursary. The co-ordinator for the Playhouse is a former member of the Lace Market Theatre. The bursary commenced in September 2020, known as “The Lace Market Theatre Bursary’ and is awarded to someone in the age range of 18 to 25 to help them

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in obtaining experience in directing, writing and producing. Candidates undergo an interview with a panel including a Member from the Lace Market Theatre Trust. It is recognised on the Playhouse website and is part of their ‘Homegrown’ initiative. The bursary is for an initial period of 3 years.

Several former Members of The Lace Market Theatre have been successful in establishing themselves within the acting and theatre profession.

Subscriptions and Prices

Annual subscription rates, which are approved at the Charity’s AGM, for Members were;

There is a Members’ Season Ticket Scheme enabling all productions to be seen for £100.00.

Ticket prices are set by the Trustees. The Trustees resolved in April 2022 to increase ticket prices by £1.00 in each category, notwithstanding that this meant increases were well below the rate of inflation (with a view to a further increase in the following season).

Properties

The Lace Market Theatre building is a theatre venue in the famous Lace Market area of the City of Nottingham. It is close to public transport and is situated in Halifax Place, and is fully owned by The Lace Market Theatre Trust Limited. It consists of a main auditorium on the ground floor. The auditorium capacity is 124.

Seat sponsorship was offered to the Membership. To-date, 49 people have taken the opportunity of having dedication plaques on a seat or seats. Members are aware that this will not give priority booking rights.

On the first floor of the building is a bar, a lounge and studio area which is used for smaller productions (with a seating capacity of 50), rehearsals and social events. This 9

area is also used as an exhibition space where the public can view artworks of various types. In the basement are dressing rooms, props stores and workshops. The building is essential to achieve the principal objects of the Charity and is used for the productions each season and for which tickets are available to the general public.

The wardrobe department is located at Unit 2, 248 Radford Boulevard, Nottingham, NG7 5QG, which houses thousands of costumes. These premises were taken ona fiveyear Lease in 2018. Hires are made on occasions to other theatres, schools, organisations and individuals. Servicing the hire department requires a significant amount of volunteer power and the future of this activity is uncertain. The Trust continues to look into the possibility of acquiring freehold premises to house this department for the long term. Costumes continue to be made and adapted by the wardrobe volunteers for the Theatre’s own productions. It is estimated that there are significant savings each year in that the Lace Market Theatre does not have to hire in costumes from outside sources. For the period of this Report no notional income has been attributed to wardrobe.

There is an unresolved issue with Nottingham City Council concerning their attempt to impose service charges retrospectively in respect of the wardrobe department’s previous Stoney Street premises in the sum of £5,793. This issue remains unresolved but does not appear to be being actively pursued by the Council at present.

One of the main objects (see above) of the Charity is the preservation of the Grade II listed Theatre building itself. The building is on a narrow site between other buildings. This restricts what the Charity is able to do structurally with the building.

Whilst the Trustees are aware of their duties under the Equality Act 2010 to take into account those with disabilities, it is recognised that the ability to undertake adjustments is limited given the age and structure ofthe Theatre building and that this means that wheelchair access is exceptionally difficult. Marketing and publicity endeavour to make this issue clear. It will continue to be an issue until major alterations can be afforded and undertaken. The Charity expends monies on maintenance and improvements to the building as and when required (see also Policy for Reserves below).

A signed (BSL) performance was presented in the season and the loop system for the hard of hearing has been replaced.

Outside consultants Jeffrey Keays Associates produced a condition survey in 2020 as part of a Heritage Lottery Grant which made a number of recommendations relating to the fabric of the Theatre building. The feasibility study, unfortunately, concluded that the cost of any significant development would be between £1,000,000 and £2,000,000. Funding would not be available for works of the magnitude required and which, almost certainly, would exceed the market value of the property. (See also Policy for Reserves below). The Theatre freehold premises has been stated at its historical cost of £62,190 for accounting purposes for a number of years.

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There has been a continuing programme of upgrading and improvement in technical equipment, such as sound and lighting.

The main Theatre building is occasionally hired to other organisations. The Trustees are conscious that the building can be an attractive venue for community events and is available when there is no clash with the ongoing programmes of The Lace Market Theatre itself. This not only enhances the income of the Charity, but the profile and knowledge within the community of the existence of The Lace Market Theatre and what it does. However, it is recognised that setting up for outside hires adds significantly to the workload of volunteers and therefore the overall number of hires needs to be proportionate and to take account of the rehearsal and production schedules.

There is a premises licence. The Designated Premises Supervisor is Philip Hogarth. In normal times, the building is able to be opened to the public from 10.00am to 01.00 on weekdays, and 24.00 on Sundays. Profits from the bar go directly to the income of the Charity. The coffee bar / kitchen and licensed bar area has a5 Star Food Hygiene Rating Certificate and appropriate individuals have undertaken and will undertake hygiene courses.

Evacuation training is undertaken with Duty Officers, front of house volunteers and. relevant stage staff. First Aid kits are kept up to date. Appropriate Portable Appliance Testing and other electrical testing is undertaken when required. The fire alarm and intruder alarms are subject to a service contract.

Health and Safety

There were no reports of serious accidents in the year.

Financial Review

The charity had a gross income, including interest, of £174,883 in 2022 /2023 (2021 / 2022 £131,075).

The accounts show that there was again a net surplus over the period of £32,491 compared to £6,570 for the year 2021 / 2022 as shown in the Statement of Financial Activities. Total charity funds as at 31% July 2023 are stated in the Balance Sheet at £472,603. The charity has a strong balance sheet and this is testament to prudent financial management over many years.

The first full season after lockdown rules were relaxed recovery has been very positive and, remarkably, for a non-professional theatre, in a continuing unprecedented financial climate nationally, the Lace Market Theatre has managed to be financially self-sufficient and currently receives no assistance from the Arts Council or National Lottery. There are occasional legacies and donations and in the year under review donations of £3,373 were received (£3063 in the previous year). | The Theatre normally relies on the income from ticket sales and membership fees to | cover its operating costs. In setting the level of membership prices referred to earlier | in this Report the Trustees give careful consideration to affordability and accessibility

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to those on lower incomes to enable as many as possible within the community to take part in the activities, to attend as audiences and to use the facilities of the bar, etc.

As a charity, the Trust was entitled to an 80% rebate from Nottingham City Council in respect of business rates for both the theatre and wardrobe premises.

The Trust utilises the services of a third party to apply for Theatre Tax Credit, considering that a fee of 12 1/2% plus VAT is modest in comparison to the benefit of receiving the tax credit. Appropriate claims are intended to be made in future years. Theatre Tax Credit is only available in respect of ‘in person’ performances and for the year in question the tax credit amounted to £16,740 (£10,144 in the previous season).

Policy for Reserves

The Theatre Development Fund at 31 July 2023 stands at £56,114. Although they are general or unrestricted funds, the Theatre Development Fund is designated by the Trustees for future improvements and development of the Theatre building itself. Funds are in accounts which generate a relatively low rate of interest, but this is beyond the control of the Theatre. The Treasurer makes recommendations to the Trustees when advantage can be taken of higher interest rates. In addition to the normal banking arrangements £85,000 is held by CCLA Fund Managers in a COIF Charities Deposit Fund and a further £85,000 is held by the Mansfield Building Society in a Community Deposit Maxi Account in an endeavour to increase the returns on monies. Including these accounts the total cash at bank and in hand at the year-end was £297,722 compared with £266,297 in the previous financial year.

Some years ago it was intended that a strip of land donated by a developer next to the Theatre building, would be incorporated within the building to improve backstage and audience facilities, and to allow improvements for access and toilet facilities for the disabled but this project has not been able to proceed due to not being able to locate sponsorship or grants which would be essential given the high cost of such works. (See the reference to the survey under the section entitled ‘Properties’ above).

It is anticipated that the Charity will continue to explore other avenues of financial help but for a scaled back project of development, still hoping to utilise the strip of land referred to at some stage in the future.

The Trustees continue to keep an eye on the local property market with a view to locating premises to purchase, but there is little available property that would be financially within the Charity’s budget at present.

The Charity had general funds of £416,489 as at 31 July 2023 (free reserves). This fund stood at £377,874 in 2021/2022. Apart from this, there are no funds which need to be separately accounted for as having restrictions on the use of income or capital for particular purposes, and no endowment funds held on trust to be retained as a capital fund. Neither the Charity nor its Trustees act as custodian Trustees.

The Trustees will continue to monitor closely the Charity/Company’s financial position to ensure so far as possible that reserves are not used to “subsidise” the Theatre’s normal day to day running costs.

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Concerns

The major risk to which the charity was exposed in recent years was the Covid-19 pandemic which effectively closed the Theatre and cut off its flow of income. There was an expected reduction in income from lower audience figures once the Theatre was able to reopen. However, the Trustees continue to have a strong commitment to, and regard it as part of their remit to, bring some productions which do not form part of mainstream, regional and national main Theatre offers to a wider public audience when it is able to do so. This policy appears to have been vindicated by the bounce back in audience attendances since the Theatre was able to reopen.

The building’s situation off the main thoroughfares of the city centre has historically made it difficult to maintain an obvious presence in the public eye. Comments are often made from new audience members that they had not previously been aware of The Lace Market Theatre. Anecdotally some have stated that people are reluctant to come into the city at night, particularly during the winter months, and parking is an issue and an additional expense. The Lace Market Theatre is in the fortunate position of being able to offer a concession on parking in the Fletcher Gate Car Park. A swipe card system in the bar means that audiences and Members can park at a reduced cost of £3.50. Audiences can also take advantage of pre-show food offers at three local venues, ‘Edin’, ‘Tapestry’ and ‘Pitcher & Piano’.

The Trustees realise that they cannot be complacent and that publicity and marketing is essential in maintaining and enhancing the Lace Market Theatre’s profile. It remains a troublesome area because of the commitment required ofvolunteers of the Charity to undertake these tasks in their own time. The objective is to have a consistent publicity and marketing leader or team. The Trustees are conscious that this remains an area which must continue to be the focus for improvement. A Publicity and Marketing Group has a co-ordinator and much of the design work for the annual brochure is done in-house.

The website on-line booking service is an essential feature for ticket sales, together with the box office at the Theatre which is open even when no production is taking place and is again manned by volunteers.

The Trustees also focus on non-financial risks, such as those which might arise from fire, health and safety of actors and audiences, management of performing rights and food hygiene. The Theatre works with the Fire Service, the local authority and Environmental Health departments whenever necessary. Ongoing training in First Aid is scheduled.

Elements of managing financial risk include a reserves policy and retention of sufficient working capital (see above).

Volunteers

The Trustees are conscious that the majority of volunteers are no longer “spring chickens” and that willing volunteers are increasingly hard to find for essential activities.

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This has become a more pressing issue since the relaxation of Covid-19 restrictions and the Theatre was able to re-open. A number of valuable former volunteers did not return to participate on duty rotas. Anecdotally some thought they had “done their bit” for the Lace Market Theatre over the years and that it was time to pass on to the next generation. The age profile ofvolunteers is notable in that there are very few under the age of forty. Those over the age of sixty made up over half the bank of regular volunteers.

Of equal concern was that some significant leadership roles remained unfilled by the time of the AGM and needed to be urgently addressed. A Strategic Action Plan has been put in place to address those issues, together with wider planning for the organisation, membership and diversity, amongst other things.

With its reliance on volunteers the Trustees need to increase pools of Members to undertake front of house, duty officers, box office, set designing, set building, props support etc. with a programme of mentoring by Members with more experience in those fields. Volunteers are often on more than one rota for different areas of the Theatre’s needs and some volunteers are undertaking far more duties than others and who go ‘above and beyond’ to maintain the production standards expected of the Lace Market Theatre.

A Membership rule makes it a condition of Membership that Members must be prepared to be allocated to and undertake duties on a rota. For example, those wishing to participate as actors should also makea significant contribution to other aspects of the Theatre’s requirements to enable it to run efficiently, such as front of house, box office, bar, etc. Failure to do so may result in an individual not being permitted to audition for another production.

Experience has shown that despite the introduction of this rule whilst Members do sign up to rotas there has only been a small increase in the number actually undertaking duties, which results in an additional burden on other hard-working volunteers. The Trustees continue to monitor the contribution Members make and hope that as the culture becomes embedded this situation will improve.

Some tasks may be less glamorous than others, but rota tasks are for the benefit of the whole membership and are essential to enable the Trust to achieve its objectives. Wearing of logo clothing has drawn positive response from audiences. This gives a more professional face to the services which the Theatre offers.

There have been occasions where there has beena risk of cancelling performances due to the lack of available cover. Fortunately, that situation has been averted to-date. Managing the rotas to ensure that there are sufficient people to man the productions has been an onerous task. The use of social media and face to face canvassing has helped to some extent.

There is ongoing training in hospitality and Box Office operation, where there are often changes requiring refresher and updated training. The Production Group offer training sessions in backstage work and offer support. There is some optimism that the 2023/2024 season is looking more hopeful.

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Other

At the Annual General Meeting each year the accounts and Trustee Reports are presented by the Trustees and the following season’s programme is recommended by PAG and approved by the Trustees.

The Trustees fully acknowledge the dedication of PAG and the Artistic Director in compiling a season, their flexibility in coping with, at times, fraught discussions as to how a multitude of factors should be reflected in the season and the collaboration with the past and future PAG and Artistic Directors to ensure continuity.

The Charity/Company continues to produce its newsletter to Members called “The Boards” which provides updates on productions and other news and articles by and for the membership. There is an emailed monthly update to all Members and past audience members who are registered to receive it. There is a publicly accessible and maintained website at www.lacemarkettheatre.co.uk,

The Trustees wish to record their thanks to all the Members for their past and continuing dedication and hard work to the Lace Market Theatre in all the aspects of its activities in keeping areas staffed and running smoothly and without whom “the show could not go on” and not forgetting the audience for their continuing support and without whom this Theatre would not exist.

The Lace Market Theatre is a member of the Little Theatre Guild of Great Britain, a national organisation for amateur companies who own or control their own theatres and Nottingham and Nottinghamshire Drama Association (NANDA). Materials from the Lace Market Theatre’s own archives from 1924 to 2006 are deposited in the Nottinghamshire County Council archives under Accession Number 8676.

Two separate formal complaints, following allegations made by Members against another individual member were dealt with in the period in question resulting in the exceptional decision to exclude the offending member from the Lace Market Theatre as a member or audience participant. The details of the complaint are to remain confidential in the records. The complaints procedures are undergoing review and may be revised in the light of this experience where, for the first time, a complaint had reached the review stage after initial findings had been issued.

Charity Commission Guidance

The Trustees have complied with their duty to have regard to the Charity Commission's public benefit guidance when exercising its powers or duties to which the guidance is relevant and in producing this report. The statutory requirements for filing of Annual Returns and accounts at the Charity Commission and Companies House were attended to at the appropriate times.

TS

Dated: 10 October 2023 Signed: L-/ he Ge? NEVIL CROSTON; ompany Secretary

16

The Lace Market Theatre Trust Limited (A company limited by guarantee)

Independent Examiner's Report on the Financial Statements

Report to the trustees, directors and members of The Lace Market Theatre Trust Limited on the financial Statements for the year ended 31 July 2023 (Registered Charity Number: 506730) (Company Number 01323050) set out on pages 18 to 31,

| report to the charity trustees on my examination of the financial Statements of the company for the year ended 31 July 2023.

Responsibilities and basis of report

As the charity's trustees of the Company (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ("the 2006 Act").

Having satisfied myself that the financial statements of the company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, | report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 2011 ("the 2011 Act"). In carrying out my examination, | have followed the directions given by the Charity Commission (under section 145(5)(b) of the 2014 Act.

Independent examiner's statement

| am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales.

| have completed my examination. | confirm that no material matters have come to my attention which gives me cause to believe that: - accounting records were not kept in accordance with section 386 of the Companies Act 2006; or . the financial statements do not accord with such records; or . the financial statements do not comply with relevant accounting requirements under section 396 of the Companiesis Act 2006 other than any requirement that the financial statements give a ‘true and fair’ view which. not a matter considered as part of an independent examination: or . the financial statements have not been prepared in accordance with the Charities SORP (FRS102).

| have no concerns and come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Signed: £ f Oee Date: 17th October 2023

Roderick Peter Ellis Fellow of the Institute of Chartered Accountants in England and Wales 414 Newark Road Lincoln LN6 8RX

17

The Lace Market Theatre Trust Limited (A company limited by guarantee)

Statement of Financial Activities

{incorporating an Income and Expenditure account) for the year ended 31 July 2023

----- Start of picture text -----
|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |Unrestricted|Restricted|Total|Funds|Total|Funds| |Note|Funds|Funds|2023|2022| |£|£|£|£| |Income:| |Donations|and|legacies|3|3,373|-|3,373|3,063| |Government|grants|4|16,740|-|16,740|15,478| |Income|from|charitable|activities:| |Operation|of theatre|5|149,702|-|149,702|111,566| |Income|from|other|trading|activities:| |Commercial|trading|operations|-|-|“|a“| |investment|income|6|5,068|-|5,068|968| |Total income|___|174,883.|-|+174,883|131,075| |Expenditure| |Costs|of raising|funds:| |Commercial|trading|operations|-|=|:|=| |Expenditure|on|charitable|activities:| |Educational|grants|-|-|-|300| |Operation|of theatre|7|442,153|-|142,153|123,992| |Governance|function|8|239|-|239|213| |Total|expenditure|142,392.-|142,392.|124,505| |Net|income|and|net|movement| |in|funds|for the year|9|32,491|-|32,491|6,570| |Reconciliation|of funds| |Fund|balances|at|the|beginning|of the|year|440,112|-|440,112|433,542| |Fund|balances|at the end|of the year|~|472,603.|~~|472,603.|+ 440,412| |All|income|and|expenditure|derive from|continuing|operations.|

----- End of picture text -----

The statement of financial activities includes all gains and losses recognised during the year.

18

The Lace Market Theatre Trust Limited (A company limited by guarantee)

Balance Sheet as at 31 July 2023

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |Note|2023|2022| |Fixed|Assets|£|£| |Tangible fixed assets|13|169,348|175,546| |Total|Fixed|Assets|169,348|175,546| |Current|assets| |Stock|14|1,335|1,055| |Debtors|15|35,670|24,211| |Cash|at bank and|in|hand|297,722|266,297| |Total|Current|Assets|334,727|291,563| |Liabilities| |Creditors:|amounts|falling due within|one year|16|31,472|26,997| |Net Current Assets|303,255|264,566| |Total|assets|less current|liabilities|472,603|440,112| |Creditors:|falling due after more than one year|=|ei| |Net Assets|472,603|440,112| |The funds|of the|charity| |Unrestricted|income funds|18|472,603|440,112| |Total|Charity Funds|__472,603|440,112|

----- End of picture text -----

These financial statements are prepared in accordance with the special provisions of Part VII of the Companies Act relating to small companies and constitute the annual financial statements required by the Companies Act 1985 and are for circulation to members of the company.

The company was entitled to the exemption from audit under section 477(2) of the Companies Act 2006 relating to the small companies regime.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006

The notes on pages 21 to 31 form part of these financial statements.

Signed 6 Nya ‘ GARETH MARK MORRIS, et I on behalf of the trustees

Approved by the trustees on 10th October 2023

19

The Lace Market Theatre Trust Limited {A company limited by guarantee)

Statement of Cash Flows for the year ended 31 July 2023

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |Note|2023|2022| |£|£| |Net Movement|in funds|32,491|6,570| |Add back depreciation charge|18,940|19,893| |Deduct|interest income from|investing|activities|-5,068|-968| |Decrease/-increase|in|stock|-280|~303| |Decrease/-increase|in debtors|-11,459|-12,297| |Increase/-decrease|in|creditors|4,475|2,136| |Cash|used|in operating activities|39,099|15,037| |Cash flows|from|investing|activities| |Interest|income|5,068|968| |Purchase of tangible fixed|assets|-12,742|-3,369| |Proceeds|on|sale|of tangible|fixed|assets|-|~| |Cash provided by (used|in)|investing|activities|~~|<7,674|_-2,407| |Cash|flows from|financing|activities| |Repayment|of borrowing|-|=| |Cash|used|in financing|activities|—| |Increase/-decrease)|in cash and cash|equivalents|in|the year|31,425|12,630| |Cash|and cash|equivalents|at the|beginning|of the year|266,297|253,667| |Total cash|and cash equivalents|at the end|of the year|__ 297,722|266,297|

----- End of picture text -----

20

The Lace Market Theatre Trust Limited (A company limited by guarantee)

Notes to the Financial Statements for the year ended 31 July 2023

1 Principal accounting policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

a) Basis of preparation

The Lace Market Theatre Trust Limited is a registered incorporated charity in the United Kingdom. The address of the registered office is given in the Trustees’ Report on page 1. The nature of the charity's operations and principal activities are to promote, maintain and im prove and advance education particularly by the production of educational plays and the encouragement of the arts including the arts of drama, ballet, music, singing, literature, sculpture and painting. As well as to preserve for the benefit of the public the building of historic and architectural interest situate in Halifax Place in the City of Nottingham known as The Lace Market Theatre.

The charity constitutes a public benefit entity as defined by Financial Reporting Standard 102 (FRS102). The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The financial statements are prepared on a going concern basis under the historical cost convention. The financial statements are prepared in sterling which is the functional currency of the charity.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

b) Preparation of the financial statements on a going concern basis

The trustees are of the view that, having considered the current financial position and the prospects for the forseeable future, the charity is a going concern.

c) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably,

Income from government and other grants, whether ‘capital’ grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material. Income received in advance of a theatrical performance or provision of other specified service is deferred until the criteria for income recognition are met (See notes 16 and 17)

Income for life memberships is recognised in the year that it is received.

21

The Lace Market Theatre Trust Limited (A company limited by guarantee)

Notes to the Financial Statements for the year ended 31 July 2023 1 Principal accounting policies (continued)

d) Donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the members is not recognised and refer to the trustees’ annual report for more information about their contribution, On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of periodequivalentof receipt. economic benefit on the open market; a corresponding amount is then recognised in expenditure in the

e) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

f} Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside fora specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.

g) Expenditure and irrecoverable value added tax

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

. Costs of raising funds comprise the costs of com mercial trading including the licensed bar, coffee bar, ice cream and catering and their associated support costs.

. Expenditure on charitable activities includes the costs of performances, exhibitions and other educational activities undertaken to further the purposes of the charity and their associated support costs.

. Other expenditure represent those items not falling into any other heading.

Irrecoverable value added tax is charged as a cost against the activity for which the expenditure was incurred.

h) Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity's artistic programmes and activities.

22

The Lace Market Theatre Trust Limited (A company limited by guarantee)

Notes to the Financial Statements for the year ended 31 July 2023

1 Principal accounting policies (continued)

i) Tangible fixed assets

Tangible fixed assets are capitalised at cost and are depreciated over their estimated useful economic lives on a Straight line basis as follows:

----- Start of picture text -----
||||| |---|---|---|---| |Asset Category|Annual|Rate| |Freehold|property|0%| |Equipment|10%|- 20%| |Fixtures|and fittings|7%|- 10%|

----- End of picture text -----

j) Stock

Stock is included at the lower of cost or net realisable vatue. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the item on the open market.

k) Operating leases

Assets acquired under finance leases are capitalised and depreciated over the lease term and expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future charges, are included in creditors.

Rentals payable and receivable under operating leases are charged to the Statement of Financial Activities on a Straight line basis over the period of the lease.

!) Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

m) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. n) Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured reliably. Creditors and provisions are normally recognised at their estimated settlement amount after allowing for any trade discounts due.

0) Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

23

The Lace Market Theatre Trust Limited (A company limited by guarantee)

Notes to the Financial Statements for the year ended 31 July 2023

1 Principal accounting policies (continued)

p) Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds heid and the expected level of income and expenditure for twelve months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

2 Legal status of the charity

The charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

3 Income: Donations and legacies

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |2023|2022| |£|£| |Individual|donations|2,673|2,380| |Seat sponsorship|—__ 00-683.| |3,373|3,063| |4 income:|Government|grants| |2023|2022| |£|£| |Theatre tax credits|16,740|=|10,144| |Business support grants|a|84| |16,740|15,478| |5|Income:|Operation|of theatre| |2023|2022| |£|£| |Box|office,|touring|and|programmes|96,016|66,174| |Theatre|and|facilities|hire|6,038|5,613| |Bar and|catering|operations|36,736|29,850| |Subscriptions|10,500|9,595| |Other|income|412|384| |__149,702_ 411,566| |6|Income:|it|Investment|t|incomeom| |—|2022| |£|£| |Deposit account|interest|___5,068|968|

----- End of picture text -----

24

The Lace Market Theatre Trust Limited (A company limited by guarantee)

Notes to the Financial Statements for the year ended 31 July 2023

7 Expenditure: Operation of theatre

7 Expenditure: Operation of theatretheatre
2022 2022
Direct Costs £ £
- Royalties 9,408 7,775
Other production expenses 12,678 14,006
Promotionand marketing 12,059 6,830
BarPurchases 12,411 10,114
Catering and icecream 2,322 1,610
Karlsruhetheatre link - 1,603
Otherpurchases 1,413 1,050
Carpark 2,147 2,193
Support Costs
Rent 15,300 15,300
Ratesandwater rates 1,403 1,026
Light and heat 12,825 7,866
Repairs and maintenance 3,760 8,601
Insurances 6,059 5,587
Cleaning 8,040 4,685
Health and safety 5,475 1,844
Youth theatre 915 708
Sundryexpenses 3,535 2,877
Credit card charges 3,039 2,290
Printing, postage and stationery 2,315 2,123
Telephone and internet 1,986 1,999
Licences and subscriptions 180 180
Information technology costs 2,311 2,300
Legal and other professional fees 3,632 1,531
Depreciation 18,940 19,894
142,153 123,992

25

The Lace Market Theatre Trust Limited (A company limited by guarantee)

Notes to the Financial Statements for the year ended 31 July 2023

8 Expenditure: Governance function

----- Start of picture text -----
|||||| |---|---|---|---|---| |2023|2022| |£|£| |Independent examiner's remuneration|200|200| |Companies house compliance|statement fee|39|13| |239|213| |income and|net movement movement|in funds for the year funds for the year for the year the year year| |2023|2022| |This|£|£| |is|stated|after charging:| |Depreciation|18,940|19,894| |Independent|examiner's|remuneration|200|200|

----- End of picture text -----

9 Net income and net movement movement in funds for the year funds for the year for the year the year year

10 Staff costs, trustee remuneration and expenses

The charity has no employees

The trustees were not paid or received any other benefits from em ployment with the charity in the year (2022: £Nil)

26

The Lace Market Theatre Trust Limited (A company limited by guarantee)

Notes to the Financial Statements for the year ended 31 July 2023

11 Related partytransactions
Thefollowing trustees receivedreimbursement foroutofpocketexpenses
2023 2022
£ £
John Michael Anthony 1,515 421
Nevil Edmund Croston 39 20
Micah Darmola (Appinted 2 April 2023) - -
David Dunford 451 127
GuyEvans (Resigned 2April 2023) 209 913
Nicholas Gale
- -
Allan Green (Resigned2April2023) 16 168
PhilipHogarth 2,573 743
Matthew Huntbach - 24
Gareth Mark Morris 20 -
Keith Parkinson (Resigned 2April 2023) 2,314 673
Gillian Scott (Resigned 2April 2023) 21 159
HelenSharp (Appointed 2 April2023) 245 -
Eileen Patricia Stewart
. 2
Matilda Stickley (Appinted 2 April 2023) = “A
7,403 3,248
Asat31 July2023therewere noamounts outstanding inrespect ofoutofpocketexpenses (2022 -£Nil)
12Taxation

As a charitable company, The Lace Market Theatre Trust Limited, is exempt from tax on income and gains falling within section 478 of the Taxes Act 2010 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen within the charitable company.

27

The Lace Market Theatre Trust Limited

(A company limited by guarantee)

Notes to the Financial Statements for the year ended 31 July 2023

13 Tangible fixed assets

Fixtures
Freehold and
Property Fittings Equipment Total
£ £ £ £
Cost
As at 1 August 2022 62,190 241,566 105,459 409,215
Additions - 5,752 6,990 12,742
Sales = - 4 Si
As at31 July2023 62,190 247,318 112,449 421,957,
Depreciation
As at 1 August 2022 - 151,836 81,833 233,669
Charge foryear - 10,547 8,393 18,940
Sales . = ; -
As at 31 July2023 = 162,383. 90,226 252,609
Net Book Value
As at 1 August 2022 62,190 89,730 23,626 175,546
As at 31 July2023 62,190 84,935 22,223 169,348
All fixed assets are held for charitable purposes.
14 Stock 2023 2022
£ £
Bar 1,335 995
Ice Cream - 60
___1,335 1,055
The directors did not consider it practicable to place a valueon the stock of theatrical costumes and properties.
15 Debtors 2023 2022
£ £
Debtors 17,527 10,811
Prepayments 16,600 13,008
Accrued income 1,543 392
____35,670 24,217

28

The Lace Market Theatre Trust Limited (A company limited by guarantee)

Notes to the Financial Statements for the year ended 31 July 2023

16 Creditors: amounts falling due within one year

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |2023|2022| |£|£| |Creditors|8,571|7,892| |Accruals|4,892|1,943| |Deferred|income|18,009|17,162| |_31,472|26,997| |17|Deferred|income| |Deferred|income|is|made|up|as|follows| |2023|2022| |£|£| |Seat sponsorship scheme|10,681|11,181| |Advance|membership|subscriptions|3,080|2,320| |Advance|ticket sales|4,097|3,661| |Room|Hire|125|-| |Car Parking|26|-| |18,009__ 17,162| |£| |Balance|as|at|1|August 2022|17,162| |Amount released|to|income|earned|from|charitable|activities|6,681| |Amount|deferred|in|year|7,528| |Balance as|at 31|July 2023|~|[18,009]|

----- End of picture text -----

29

The Lace Market Theatre Trust Limited (A company limited by guarantee)

Notes to the Financial Statements for the year ended 31 July 2023

18 Analysis of charitable funds

Analysis of movements in unrestricted funds

Balance
1 August
2022
£		 Income
£		 Expenditure
£		 Transfers
£		 Balance
31 July
2023
£
Generalfund 377,874 174,883 136,268 - 416,489
Theatredevelopmentfund 62,238 - 6,124 - 56,114
440,112
174,883
142,392
-
472,603
eee”
Analysis ofmovements in unrestrictedfunds -previous year
Balance Balance
1 August
2021		 Income Expenditure Transfers 31 July
2022
£ £ £ £ £
Generalfund 364,228 131,075 117,429 - 377,874
Theatredevelopmentfund 69,314 - 7,076 - 62,238
433,542
131,075
oe		 124,505
eee
SE		 ~ 440,112

Name of unrestricted fund Description, nature and purposes of the fund

General fund The ‘free reserves' after allowing for all designated funds.

Theatre development fund Set aside by the trustees for the continued development of the theatre.

Analysis of net assets between funds

General Designated
Restricted		 Designated
Restricted
Fund Funds
Fund		 Total
£ £
£		 £
Tangiblefixed assets 113,234 56,114 - 169,348
Cash atbank and in hand 297,722 - - 297,722
Othernet current assets/-liabilities 5,533 - - 5,533
416,489
56,114
SEE		 - 472,603

30

The Lace Market Theatre Trust Limited (A company limited by guarantee)

Notes to the Financial Statements for the year ended 31 July 2023

19 Financial commitments

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |Land|and|Land|and| |Buildings|Other|Buildings|Other| |2023|2022| |Expiry|[within]|£|£|£|£| |Less|than|one|year|~|-|-|-| |Two to five years|3,616|-|19,516|-| |Over five|years|-|-|-|-|

----- End of picture text -----

The charity has a lease on commercial premises occupied by the wardrobe department. The rent is £15,900 per annum and the lease expires on 22 October 2023.

20 Capital commitments

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |2023|2022| |£|£| |Authorised|and|contracted|for|=|=| |Authorised|and|not|contracted|for|-|-|

----- End of picture text -----

21 Members liability

The liability of members as set out in the Memorandum of Association of the charitable com pany is as follows:

The liability of the members is limited.

Every member of the company undertakes to contribute to the assets of the com pany in the event of its being wound up during the time that he is a member or within one year afterwards for payment of the debts and liabilities of the company contracted before he ceases to be a member and of the costs, charges and expenses of winding up of the same and for the adjustment of the rights of the contributories amongst themselves such amount as may be required not exceeding in the case of any member the sum of £1.

22 Post balance sheet events

The have been no post balance sheet events that would have a material effect on the view presented by the foregoing financial statements.

31

The Lace Market Theatre Trust Limited (A company limited by guarantee)

Statistical Review for the year ended 31 July 2023

2023 2022
Membership includingYouthTheatre 316
Youth Theatre Membership 29
Total Number ofPerformances
Main House (Capacity 124) 68
Studio (Capacity50) 24
Main Seats
House Production Performances Sold Capacity % £
1 Medea 7 555 868 63.94% 6387.00
2 HayFever r 779 868 89.75% 9116.00
3 ‘The Flint Street Nativity 7 756 868 87.10% 8764.00
4 Handbagged 7 800 868 92.17% 9253.00
5 TheGovernment Inspector 7 813 868 93.66% 9441.00
6 Lost 6 606 744 81.45% 7140.00
7 Measure ForMeasure 7 574 868 66.13% 6576.00
8 TowardsZero 7 868 868 100.00% 10223.00
9 Something Unspoken/ 7 491 868 56.57% 5712.00
Suddenly LastSummer
10 Salad Days 7 697 868 80.30% 9433.00
Studio
11. Vincent In Brixton 6 276 276 100.00% 2814.00
12 Escaped Alone 6 296 300 98.67% 2940.00
13 Constellations 6 300 300 100.00% 3029.00
14. The Son 6 203 300 67.67% 1948.00
93 8014 9732 82.35% 92776.00
Members Season Tickets - 36 - ~ 3240.00
96016.00

32

The Lace Market Theatre Trust Limited (A company limited by guarantee)

;

Detailed Statement of Financial Activities for the year ended 31 July 2023

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |2023|2022| |£|£|£|£| |income| |Voluntary income| |Individual|donations|2,673|2,380| |Seat sponsorship|700|683| |Theatre|tax credit|16,740|10,144| |Business support grant|-|20,113|5,334|18,541| |Operation|of|theatre| |Ticket|sales|92,776|63,774| |Members|season|ticket sales|3,240|2,400| |Bar sales|30,833|25,892| |Bar other income|63|98| |Wardrobe|hire|income|3,114|3,045| |Wardrobe|sales|18|-| |Wardrobe|other|income|150|>| |Room|hire|income|408|20| |Properties|hire|income|20|-| |Parking|income|2,496|2,548| |Karlsruhe|link|income|-|91| |Pub|grub|income|42|:| |Coffee|bar|income|2,093|1,439| |Merchandise|sales| |The|story of the|lace|market theatre|45|45| |Picture|sales|commission|39|=| |Ice cream|sales|3,768|2,519| |Other|income|97|100| |Adult membership|4,450|4,000| |Balances|carried forward|143,652|20,113|105,971|18,544|

----- End of picture text -----

33

The Lace Market Theatre Trust Limited {A company limited by guarantee)

Detailed Statement of Financial Activities for the year ended 31 July 2023

2023 2023 2022 2022
£ £ £ £
Balances broughtforward 143,652 20,113 105,971 18,541
Joint membership 630 900
Seniorcitizen membership 3,160 3,080
Studentmembership 520 520
Unemployed membership 195 240
Disabled membership 120 80
Youth theatre membership 1,400 750
Temporarymembership 25 149,702 25 111,566
Investment income
Interest receivable 5,068 968
Total Income 174,883 131,075
Expenditure
Grants
Educational grants - 300
Operation of theatre
Royalties and licences 9,408 7,775
Scripts 1,529 1,759
Set 3,666 3,575
)
Properties 2,783 1,694
Costumes 2,021 3,078
Lighting and sound 52 431
Other production expenses 178 448
Stage maintenance 672 298
Publicity 9,539 6,385
Marketing 2,520 445
Room hire 166200 2A
Balances carried forward 34,030 174,883 28,339 130,775
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The Lace Market Theatre Trust Limited (A company limited by guarantee)

Detailed Statement of Financial Activities for the year ended 31 July 2023

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||||||||| |---|---|---|---|---|---|---|---| |2023|2022| |£|£|£|£| |Balances|brought forward|72,396|174,883|64,176|130,775| |Ice cream|purchases|2,128|1,197| |Theatre|premises|expenses| |Rates|198|65| |Water|rates|904|860| |Electricity|9,980|5,612| |Gas|494|406| |Insurance|5,612|5,045| |Repairs and|maintenance|2,711|7,704| |Cleaning|7,531|4,166| |Consumables|1,349|581| |Health|and|safety|§,475|1,844| |Sundry expenses|1,132|688| |Depreciation|18,940|19,894| |Youth|theatre|expenses|915|708| |Karlsruhe|theatre|link|-|1,603| |Stationery|1,062|448| |Postage|4,253|1,675| |Telephone|and|internet|1,612|1,624| |Software|support|and|website|hosting|1,973|1,924| |Computer|software|licences|338|376| |Credit|card|charges|2,518|1,865| |Legal|and|professional|3,632|142,153|1,531|123,992| |Governance|costs| |Independent|examiner's|remuneration|200|200| |Companies|house|filing|fee|39|239|13|213| |Net income|32,491|6,570|

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