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2021-03-31-accounts
| Trustees IDirectors |
EdAderson |
|
|
|
Mark Armour |
|
|
|
Howard Gatiss |
|
|
|
Renee Hunt |
|
|
|
HenriettaJowitl |
|
|
|
Paul LeeOBE |
|
|
|
Peter Maniura |
|
|
|
Richard Mantle OBE |
|
|
|
Rosie Millard |
|
|
|
Cllr JonathanPryor |
|
|
|
IrvingWamett |
|
|
| Company Secretary |
Kirsten Bullen |
|
|
| General Director and Chief Executive |
Richard Mantle OBE |
|
|
| Committee Chairs |
|
|
|
| Finance andGeneral Purposes |
IrvingWamett |
|
|
| Development |
CliveLloyd |
|
|
| Nominations |
PaulleeOBE |
|
|
| Health and Safety |
Richard MantleOBE |
|
|
| Equality Diversityand Inclusion |
Renee Hunt |
|
|
| Charity number |
511726 |
|
|
| Company number |
01550778 |
|
|
| Registered office |
HowardOpera Centre |
|
|
|
8 Harrison Street |
|
|
|
Leeds |
|
|
|
LS1 6PA |
|
|
| Auditor |
RSM UKAudit LLP |
|
|
|
Chartered Accountants |
|
|
|
Central Square |
|
|
|
5th Floor |
|
|
|
29Wellington Street |
|
|
|
Leeds |
|
|
|
LS1 4DL |
|
|
| Bankers |
HSBC |
Coutts & Co |
|
|
33 Park Row |
440 Strand |
|
|
Leeds |
London |
|
|
LS1 1D |
WC2R0QS |
|
| Solicitors |
Wrigleys LLP |
WombleBond Dickinson |
Blacks Solicitors LLP |
|
19CookridgeStreet |
1 \/Vhitehaß Rd |
City Point |
| Leeds |
|
Leeds |
29 KingStreet |
| LS2 3AG |
|
LS1 4BN |
Leeds |
|
|
|
LS1 2HL |
| Committee Chairs |
|
| Finance and General Purposes |
Irving Wamett |
| Development |
Clive Lloyd |
| Nominations |
Paul Lee OBE |
| Health and Safety |
Richard Mantle OBE |
| Equality Diversity and Inclusion |
Renee Hunt |
General Directorand Chief
Executive |
Richard Mantle OBE |
|
|
|
|
|
|
Total |
Total |
Total |
|
|
|
Unrestricted |
Restricted |
|
|
|
|
|
|
|
funds |
funds |
|
2021 |
|
2020 |
|
|
Notes |
£ |
|
£ |
|
£ |
£ |
| Incomefrom: |
|
|
|
|
|
|
|
|
| Donationsandlegacies |
|
2 |
14,039,619 |
351,098 |
|
14,390,717 |
|
12,598,326 |
| Capital ProjectDonations |
|
2 |
100,000 |
835,577 |
|
935,577 |
|
638,676 |
| Other trading activities: |
|
|
|
|
|
|
|
|
| Sponsorship |
|
3 |
119,314 |
|
|
119,314 |
|
152,808 |
| Rental income |
|
3 |
|
|
|
|
|
96,510 |
| Incomefrom investments |
|
4 |
6,849 |
6,510 |
|
13,359 |
|
28,992 |
| income from charitable activities. |
|
|
|
|
|
|
|
|
| Incomefromproductionsandperformances |
|
5 |
356,443 |
|
|
356,443 |
|
2,949,881 |
| Other. |
|
|
|
|
|
|
|
|
| Other income |
|
6 |
2,064,073 |
|
|
2,064,073 |
|
71,902 |
| Total income |
|
|
16,686,298 |
1,193,185 |
|
17,879,483 |
|
16,537,095 |
| Expenditure on: |
|
|
|
|
|
|
|
|
| Costs ofraising funds |
|
7 |
349,146 |
|
|
349,146 |
|
417,775 |
| Expenditure on charitable activities: |
|
|
|
|
|
|
|
|
| Costsofproduction andperformances |
|
8 |
10,361,693 |
365,691 |
|
10,727,384 |
17,214,317 |
|
| Capitalprojectrelated |
|
8 |
361,370 |
|
|
361,370 |
|
788,560 |
| Total expenditure |
|
|
11,072,209 |
365,691 |
|
11,437,900 |
18,420,652 |
|
| Netmovementin fundsfortheyear |
|
|
|
|
|
|
|
|
| before tax |
|
|
5,614,089 |
827,494 |
|
6,441,583 |
(1,883,557) |
|
| Theatre and Orchestral laxcredit |
|
14 |
|
|
|
|
1,206,979 |
|
| Netmovementin fundsfortheyearafter |
22&23 |
|
|
|
|
|
|
|
| tax |
|
|
5,614,089 |
827.494 |
|
6,441,583 |
|
(676,578) |
| Reconciliation offunds |
|
|
|
|
|
|
|
|
| Totalfunds brought forward |
22 |
& 23 |
10,842,463 |
13,605,533 |
24,447,996 |
|
25,124,574 |
|
| Total fundscarried forward |
**22 ** |
& 23 |
16,456,552 |
14,433,027 |
30,889,579 |
|
24,447,996 |
|
|
|
|
|
|
2021 |
|
2020 |
|
|
Notes |
|
£ |
£ |
£ |
£ |
| Fixedassets |
|
|
|
|
|
|
|
| Tangibleassets |
|
15 |
|
23,806,317 |
|
|
18,029,496 |
|
|
|
|
23,806,317 |
|
|
18,029,495 |
| Cumrentassets |
|
|
|
|
|
|
|
| Investments |
|
16 |
50,000 |
|
|
75,000 |
|
| Debtors due within one year |
|
17 |
2,138,109 |
|
|
4,871,237 |
|
| Debtors due aftermore than oneyear |
|
47 |
16,582 |
|
|
123,414 |
|
| Cashatbankandin hand |
|
|
8,298,319 |
|
|
4,604,119 |
|
|
|
|
10,503,010 |
|
|
9,673,770 |
|
| Creditors: amountsfallingduewithin .. |
|
18 |
|
|
|
|
|
| oneyear |
|
|
(3,360,846) |
|
|
(1,904,124) |
|
|
|
|
|
|
|
|
- |
| Netcurrentassets |
|
--- |
- .
----- -- |
7,142,164 |
|
|
7,769.646 |
| Totalassets less current liabilities |
|
|
|
30,948,481 |
|
|
25,799,142 |
| Creditors: amounts falling due after |
. 20 |
|
|
|
|
|
|
| more than oneyear |
|
|
|
(58,902) |
|
|
(1,351,146) |
| Netassets |
|
|
|
30,889,579 |
|
|
24,447,996 |
| incomefunds |
|
|
|
|
|
|
|
| Unrestrictedfunds |
23 |
|
|
16,456,552 |
|
|
10,842,463 |
| Restricted funds |
22 |
|
|
14,433,027 |
|
|
13,605,533 |
|
|
|
30,889,579 |
|
|
|
24,447.,996 |
|
|
|
2021 |
|
2020 |
|
Notes |
£ |
£ |
£ |
£ |
| Fixedassets |
|
|
|
|
|
| Tangible assets |
15 |
|
23,805,317 |
|
18,029,496 |
| Investments |
16 |
|
1 |
|
1 |
|
|
|
23,806,318 |
|
18,029,497 |
| Currentassets |
|
|
|
|
|
| investments |
16 |
50,000 |
|
75,000 |
|
| Debtors due_within_ oneyear |
17 |
2,138,109 |
|
7,837,036 |
|
| Debtors due aftermore thanone_year_ |
17 |
16,5€2 |
|
123,414 |
|
| Cashatbank andin hand |
|
8,297,479 |
|
4,603,280 |
|
|
|
10,502,170 |
|
12,638,730 |
|
| Creditors: amounts fallingdue within |
18 |
|
|
|
|
| on@ year-------- |
|
(3,383,611) |
|
(4,896,503) |
|
| Netcurrentassets |
|
|
7,118,559 |
|
7,742,227 |
| Total assets less currentliabilities |
|
|
30,924,877 |
.. |
25,771,724 |
| Creditors: amountsfalling due after |
20 |
|
|
|
|
| morethan oneyear |
|
|
(58,902) |
|
(1,351,146) |
| Netassets |
|
|
30,865,975 |
|
24,420,578 |
| Income funds |
|
|
|
|
|
| Unrestricted funds |
23 |
16,432,948 |
|
10,815,045 |
|
| Restricted funds |
22 |
14,433,027 |
|
13,605,533 |
|
|
|
30,865,975 |
|
24,420,578 |
|
|
|
|
2021 |
|
2020 |
|
Notes |
£ |
£ |
£ |
£ |
| Cash flowsfromoperatingactivities |
|
|
|
|
|
| Cash generated fromoperations |
25 |
|
8,857.,689 |
|
8,245,490 |
| Movementin taxreliefdebtor |
|
|
1,206,979 |
|
230,138 |
| Netcash inflowfromoperating activities |
|
|
10,064,668 |
|
8,475,628 |
| Investing activities |
|
|
|
|
|
| Purchaseoftangible fxedassets |
|
(6,252,681) |
|
(5,670,476) |
|
| Purchaseofother investments |
|
|
|
|
|
| Returnson investments |
|
|
|
28,992 |
|
| Netcash used in investing activities |
|
|
(6,252,681) |
|
(5,641,484) |
| Cash flowsfromfinancing activities |
|
|
|
|
|
| Repaymentofborrowings |
|
(109,198) |
|
(97,598) |
|
| Obligationsunderfinancelease |
|
(8,589) |
|
(18,392) |
|
| Netcash used infinancing activities |
|
|
(117,787) |
|
(115,990) |
| Netincrease in cash and cash equivalents |
|
|
3,694,200 |
|
2,718,154 |
| Cash and cash equivalents_at_beginningofyear |
|
|
4,604,119 |
|
1,885,965 |
| Cash andcash equivalentsatend ofyear |
|
|
8,298,319 |
|
4,604,119 |
|
2021 |
2020 |
|
£ |
£ |
| Arts Council Englandgrant |
10,577.101 |
10,386.000 |
| Arts Council Englandand DepartmentofEducationgrant |
150,000 |
150,000 |
| DCMS Culture Recovery FundGrant |
2,000,000 |
|
| Local Authorities' grants |
465,000 |
465,000 |
| Trusts and individuals' donations |
1,198,616 |
1,597,326 |
|
14,390,717 |
12,598,326 |
|
|
2021 |
2020 |
|
|
£ |
£ |
| Restricted |
funds |
351,096 |
849,753 |
|
|
351,098 |
849,573 |
| Capitalprojectdonations |
|
|
|
2021 |
2020 |
|
£ |
£ |
| Music Works campaign |
935,577 |
638,676 |
|
935,577 |
638,676 |
| Included within capital project donations are donations relating to the Music |
works campaign of which |
|
| £835,577 (2020 -£638,676) areamounts which relatelorestricted funds. |
|
|
|
2021 |
2020 |
| SponsorshipandPartnerships |
£ |
£ |
| Corporate & HEpartnershipsandsponsorships |
119,314 |
152,808 |
|
119,314 |
152,808 |
|
3 |
Income from other trading activities (Continued) |
|
|
|
|
|
2021 |
2020 |
|
|
Rental income |
£ |
£ |
|
|
Production hire &co-production income |
|
96,510 |
|
|
|
|
96,510 |
|
|
All rental income is classed as unrestricted income in the prior year. |
|
|
| 4 |
|
Income from investments |
|
|
|
|
|
2021 |
2020 |
|
|
|
£ |
£ |
|
|
Bank interest |
13,359 |
28,992 |
|
|
|
13,359 |
28,992 |
|
2021 |
2020 |
| Income from productions and performances: |
£ |
£ |
| Opera box office receipts |
26,917 |
2,000,708 |
| Concerts receipts |
35,746 |
331,759 |
| Programme sales |
|
71,380 |
| Education and other project activity |
277,848 |
485,547 |
| Sundry Income |
15,932 |
60,487 |
|
356,443 |
2,949,881 |
|
|
|
|
2021 |
2020 |
|
|
|
|
£ |
£ |
| Job |
Retention |
Scheme |
grant |
2,064,073 |
71,902 |
|
|
|
|
2,064,073 |
71,902 |
| 7 |
Expenditure on raising funds |
|
|
|
|
2021 |
2020 |
|
Fundraising costs ofgrants and donations can be analysed as: |
£ |
£ |
|
Staff costs |
275,724 |
264,975 |
|
Directdepartmentalcosts for fundraising materials and evenls |
40,164 |
125,935 |
|
Capital project fundraising |
9,838 |
|
|
General support costs (10% allocation) and depreciation (see noie 9) |
23,420 |
26,865 |
|
|
349,146 |
417,775 |
|
Staffcosts |
Staffcosts |
Other costs |
Depreciation |
Total |
Total |
| Costs ofperforming company and |
|
|
|
|
2021 |
2020 |
| related costs: |
|
|
|
|
|
|
|
|
£ |
£ |
£ |
£ |
£ |
| Costs ofperforming company and |
|
|
|
|
|
|
| related costs |
7,845,784 |
|
2,292,790 |
469,864 |
10,608,438 |
17,110,617 |
| Governance costs |
55,437 |
|
63,509 |
|
118,946 |
103,700 |
|
7,901,221 |
|
2,356,299 |
469,864 |
10,727,384 |
17,214,317 |
| Other costs can be further analysed as. |
|
|
|
|
2021 |
2020 |
|
|
|
|
|
£ |
£ |
| Concert and education programme costs |
|
|
|
|
437,903 |
1,132,213 |
| Production and stage management costs |
|
|
|
|
335,689 |
968,113 |
| Artists, performers and creative teams |
|
|
|
|
593,205 |
3,022,648 |
| Rehearsal, storage and premises rental |
|
|
|
|
79,309 |
103,745 |
| Marketing costs |
|
|
|
|
187,509 |
514,390 |
| Transport |
|
|
|
|
10,079 |
163,804 |
| Theatre rental and costshare |
|
|
|
|
33,204 |
987,327 |
| Subsistence and tour travel costs |
|
|
|
|
(19,705) |
450,217 |
| General support cosi allocation (90%) (see |
note 9) |
|
|
|
603,409 |
636,570 |
| Interest payable |
|
|
|
|
32,188 |
41,653 |
|
|
|
|
|
2,292,790 |
8,020,680 |
| Governance costs: |
|
|
|
|
|
|
| Legal and professional fees |
|
|
|
|
24,309 |
13,255 |
| Auditfees |
|
|
|
|
23,200 |
19,350 |
| General office |
|
|
|
|
16,000 |
16,000 |
|
|
|
|
|
63,509 |
48,605 |
|
|
|
|
|
2,356,299 |
8,069,285 |
| Support costs |
|
|
|
2021 |
2020 |
|
£ |
£ |
| IT equipment, licencesand maintenance |
138,824 |
129,940 |
| Premises costs |
85,068 |
93,582 |
| Insurance |
145,193 |
143,010 |
| Generalofficecosts |
257,744 |
302,903 |
|
626,829 |
663,435 |
| is stated: |
|
|
|
2021 |
2020 |
|
£ |
£ |
| Aftercharging: |
|
|
| Auditor'sremuneration-auditfees |
23,200 |
19,350 |
| Depreciation |
475,860 |
476,900 |
| Operating leaserentals- other |
25,562 |
28,412 |
| Interestpayable |
32,188 |
41,653 |
| And aftercrediting: |
|
|
| Bankdepositinterest |
13,359 |
28,992 |
| category, was asfollows: |
|
|
|
2021 |
2020 |
|
Number |
Number |
| Orchestra, chorus and music |
97 |
99 |
| Technical |
45 |
46 |
| Administration, Education and Projects |
89 |
88 |
|
231 |
233 |
| 13 |
Staff numbers and costs (continued) |
|
|
|
The aggregate payroll costs ofthese personswere asfollows: |
2021 |
2020 |
|
|
£ |
£ |
|
Wages and salaries |
7,098,125 |
7,809,157 |
|
Socialsecurity costs |
660,548 |
749,906 |
|
Pension costs |
384,940 |
380,707 |
|
|
8,143,613 |
8,939,770 |
|
2021 |
2020 |
|
Number |
Number |
| £60,000-£69,999 |
4 |
6 |
| £130,000-£139,999 |
1 |
1 |
| Group and charity |
Land and buildings |
Land and buildings |
|
|
|
|
|
|
|
Long |
Leasehold |
Commercial |
ssets |
Equipment |
Total |
|
Freehold |
leasehold |
improvements |
vehicles |
under |
and musical |
|
|
|
|
|
|
construction |
instruments |
|
|
£ |
£ |
£ |
£ |
|
£ |
£ |
| Cost |
|
|
|
|
|
|
|
| At 1 April 2020 |
6,273,074 |
8,976,990 |
28,646 |
259,240 |
6,359,029 |
1,859,795 |
23,756,774 |
| Additions |
|
|
43,769 |
- |
6,081,821 |
127,091 |
6,252,681 |
| At 31 March2021 |
6,273,074 |
8,976,990 |
72,415 |
259,24012,440,850 |
|
1,986,886 |
30,009,455 |
| Depreciation |
|
|
|
|
|
|
|
| At 1 April2020 |
2,102,423 |
1,746,162 |
28,646 |
145,764 |
- |
1,704,283 |
5,727,278 |
| Charge for year |
165,165 |
199,862 |
1,824 |
31,337 |
|
77,672 |
475,860 |
| At 31 March 2021 |
2,267,588 |
1,946,024 |
30,470 |
177,101 |
- |
1,781,955 |
6,203,138 |
| Carryingamount |
|
|
|
|
|
|
|
| At31 March2021 |
4,005,486 |
7,030,966 |
41,945 |
82,139 12,440,850 |
|
204,931 |
23,806,317 |
| At 31 March 2020 |
4,170,651 |
7,230,828 |
|
113,476 6,359,029 |
|
155,512 |
18,029,496 |
| 7 Debtors |
|
|
|
|
|
|
Group |
|
Charity |
|
2021 |
2020 |
2021 |
2020 |
| Amounts falling duewithin oneyear: |
£ |
£ |
£ |
£ |
| Trade debtors |
41,533 |
84,775 |
41,533 |
84,775 |
| otherdebtors |
572,575 |
767,957 |
572,575 |
767,957 |
| Prepayments and accruedincome |
1,524,001 |
2,811,526 |
1,524,001 |
2,811,526 |
| Corporation taxdebtor |
|
1,206,979 |
|
1,206,979 |
| Amountsduefromfellowgroup undertakings |
|
|
|
2,965,799 |
|
2,138,109 |
4,871,237 |
2,138,109 |
7,837,036 |
|
|
Group |
|
Charity |
|
2021 |
2020 |
2021 |
2020 |
| Amounts due aftermore than oneyear: |
£ |
£ |
£ |
£ |
| Prepayments and accruedincome |
16,582 |
123,414 |
16,582 |
123414 |
|
16,582 |
123,414 |
16,582 |
123,414 |
| 18 |
Creditors |
|
|
|
|
|
Creditors: amounts falling due within one year |
|
Group |
|
Charity |
|
|
2021 |
2020 |
2021 |
2020 |
|
|
£ |
£ |
£ |
£ |
|
Bank loans andoverdrafts |
1,285,995 |
115,138 |
1,285,995 |
115,138 |
|
Obligations under finance leases |
20,577 |
16,977 |
20,577 |
16,977 |
|
Trade creditors |
765,973 |
221,823 |
765,973 |
221,823 |
|
Social security and other taxes |
151,080 |
213,980 |
151,080 |
213,980 |
|
Accrualsand deferred income |
1,038,022 |
1,140,937 |
1,034,322 |
1,140,937 |
|
Other creditors |
99,199 |
195,269 |
99,199 |
195,269 |
|
Amountsowed togroupundertakings |
|
|
26,465 |
2,992,379 |
|
|
3,360,846 |
1,904,124 |
3,383,611 |
4,896,503 |
|
Group |
Charity |
|
£ |
£ |
| At 1 April 2020 |
317,276 |
317,276 |
| Amount released lo the StatementofFinancialActivities |
(297,480) |
(297,480) |
| Amount deferred in theyear |
157,709 |
157,709 |
| At31 March2021 |
177,505 |
177,505 |
|
|
Group |
|
Charity |
|
2021 |
2020 |
2021 |
2020 |
|
£ |
£ |
£ |
£ |
| Bank loans andoverdrafts |
|
1,280,055 |
|
1,280,055 |
| Obligations under financeleases |
58,902 |
71,091 |
58,902 |
71,091 |
|
58,902 |
1,351,146 |
58,902 |
1,351,146 |
| 21 |
Analysis of debt |
|
|
|
Analysis ofbank loan repayments: |
2021 |
2020 |
|
|
£ |
£ |
|
Due within one year |
1,285,995 |
115,138 |
|
Due between one year and two years |
|
1,280,055 |
|
At31 March2021 |
1,285,995 |
1,395.193 |
|
|
Movementin funds |
Movementin funds |
|
|
|
Balanceat1 |
Incoming |
Resources |
Transfers |
Balanceat31 |
|
April2020 |
resources |
expended |
|
March 2021 |
|
£ |
£ |
£ |
£ |
£ |
| Music Works |
13,026,965 |
898,018 |
|
|
13,924,983 |
| Community Partnership projects |
76,296 |
1,000 |
(18,996) |
|
58,300 |
| Leverhulme Trust supported activity |
192,964 |
|
(3,343) |
|
189,621 |
| In Harmony education programme |
161,167 |
176,616 |
(144,825) |
|
192,958 |
| Other education projects |
100,000 |
60,550 |
(160,550) |
|
|
| Parsifal Circle |
47,025 |
18,815 |
|
|
65,840 |
| HowardAssemblyRoom /Projects |
|
37,460 |
(37,460) |
|
|
| Kirklees activities |
|
209 |
|
|
209 |
| Taient development |
870 |
|
|
|
870 |
| Other restricted funds |
246 |
517 |
(517) |
|
246 |
| Total restricted funds |
13,605,533 |
1,193,185 |
(365,691) |
|
14,433,027 |
| Restricted funds (continued) |
|
|
|
|
|
|
|
|
Movementin funds |
|
|
|
Balance at |
Incoming |
Resources expended |
Transfers |
Balance at31 |
|
1 April 2019 |
resources |
|
|
March 2020 |
|
£ |
£ |
£ |
£ |
£ |
| MusicWorks |
13,155,952 |
663,676 |
(792,663) |
|
13,026,965 |
| Community Partnership projects |
113,384 |
4,000 |
(41,088) |
|
76,296 |
| Leverhulme Trust supported activity |
13,026 |
227,698 |
(47.760) |
|
192,964 |
| In Harmony education programme |
217,900 |
178,305 |
(235,038) |
|
161,167 |
| Othereducation projects |
210,000 |
238,000 |
(548,000) |
200,000 |
100,000 |
| Street Scene |
38,000 |
|
(38,000) |
|
|
| New productions |
200,000 |
|
|
(200,000) |
|
| Parsifal Circle |
|
47,025 |
|
|
47,025 |
| Dementia-friendly activity |
|
26,225 |
(26,225) |
|
|
| Howard Assembly Room /Projects |
|
100,000 |
(100,000) |
|
|
| Kirklees activities |
|
23,500 |
(23,500) |
|
|
| Talent_development_ |
|
5,000 |
(4,130) |
|
870 |
| Other restricted funds |
2,246 |
|
(2,000) |
|
246 |
|
13,950,508 |
1,513,429 |
(1,858,404) |
|
13,605,533 |
| 23 |
Unrestricted funds |
|
|
|
|
|
|
|
|
|
Group |
|
|
|
|
|
|
|
|
|
|
|
|
|
Wiovementinfunds |
|
|
|
|
|
|
Balance at1 |
Incoming |
|
Resources |
Transfers |
Theatre and |
|
Balance at |
|
|
April2020 |
resources |
|
expended |
|
Orchestraltax |
|
317larch |
|
|
|
|
|
|
|
credit |
|
2021 |
|
|
£ |
|
£ |
£ |
£ |
£ |
|
£ |
|
Designated funds |
516,600 |
|
|
(371,208) |
2,583,400 |
|
|
2,728,792 |
|
General unrestricted |
|
|
|
|
|
|
|
|
|
funds |
10,325,863 |
16,686,298 |
|
(10,701,001) |
(2,583,400) |
|
- |
13,727,760 |
|
Total unrestrictedfunds |
10,842,463 |
16,686,298 |
|
(11,072,209) |
|
- |
|
16,456,552 |
|
|
|
|
|
Movementinfunds |
|
|
|
|
|
|
Balance at 1 |
Incoming |
|
Resources |
Transfers |
Theatre and |
|
Balanceat |
|
|
April 2019 |
resources |
|
expended |
Orchestraltax |
|
|
31 March |
|
|
|
|
|
|
|
credit |
|
2020 |
|
|
£ |
£ |
|
£ |
£ |
£ |
|
£ |
|
Designatedfunds |
610,000 |
|
|
|
(93,400) |
|
|
516,600 |
|
General unrestricted |
|
|
|
|
|
|
|
|
|
funds |
10,564,066 |
15,023,666 |
(16,562,248) |
|
93,400 |
1,206,979 |
|
10,325,863 |
|
Total unrestrictedfunds |
11,174,066 |
15,023,666 |
(16,562,248) |
|
|
1,206,979 |
|
10,842,463 |
|
|
|
|
|
Movementin funds |
Movementin funds |
|
|
|
Balance at |
1 |
Incoming |
|
Resources |
Transfers |
Theatre and |
Balance at |
|
April 2020 |
|
resources |
|
expended |
|
Orchestral tax |
31 March |
|
|
|
|
|
|
|
credit |
2021 |
|
|
£ |
|
£ |
£ |
£ |
£ |
£ |
| Designated funds |
516,600 |
|
|
|
(371,208) |
2,583,400 |
- |
2,728,792 |
| General unrestricted |
|
|
|
|
|
|
|
|
| funds |
10,298,445 |
|
16,686,298 |
|
(10,697,187) |
(2,583,400) |
- |
13,704,156 |
| Totalunrestrictedfunds |
10,815,045 |
|
16,686,298 |
|
(11,068,395) |
|
- |
16,432,948 |
|
|
|
|
|
lovementin funds |
|
|
|
|
Balance at1 |
|
Incoming |
|
Resources |
Transfers |
Theatre and |
Balance at |
|
April2019 |
|
resources |
|
expended |
Orchestraltax |
|
31 March |
|
|
|
|
|
|
|
credit |
2020 |
|
£ |
|
£ |
|
£ |
£ |
£ |
£ |
| Designatedfunds |
610,000 |
|
|
|
|
(93,400) |
|
516,600 |
| General unrestricted |
|
|
|
|
|
|
|
|
| funds |
10,533,110 |
|
15,023,666 |
|
(16,558,710) |
93,400 |
1,206,979 |
10,298,445 |
| Total unrestrictedfunds |
11,143,110 |
|
15,023,666 |
(16,558,710)- |
|
|
1,206,979 |
10,815,045 |
| Group and Charity |
|
|
|
|
|
|
|
|
|
Movementinfunds |
|
|
|
|
Balance at1 |
Incoming |
Resources |
Transfers |
Theatreand |
Balanceat31 |
|
April2020 |
resources |
expended |
|
Orchestral |
March 2021 |
|
|
|
|
|
tax credit |
|
| Fuluresustainability |
516,600 |
|
|
(516,600) |
|
|
| New business plan |
|
|
|
1,000,000 |
|
1,000.,000 |
| investment |
|
|
|
|
|
|
| Musicworks |
|
|
(371,208) |
2,100,000 |
|
1,728,792 |
| Total designated funds |
516,600 |
|
{371,208) |
2,583,400 |
|
2,728,792 |
|
|
|
Movementin |
funds |
|
|
|
Balanceat 1 |
Incoming |
Resources |
Transfers |
Theatre and |
Batanee at31 |
|
April 2019 |
resources |
expended |
|
Orchestral |
March 2020 |
|
|
|
|
|
taxcredit |
|
| Future sustainability |
610,000 |
|
|
(93,400) |
|
516,600 |
| Totaldesignatedfunds |
610,000 |
|
|
(93,400) |
|
516,600 |
|
|
Miovement |
|
|
2020 |
inyear |
2021 |
|
£ |
£ |
£ |
| Operating reserve |
934,971 |
3,640,100 |
4,575,071 |
| Designatedfunds |
516,600 |
2,212,192 |
2,726,792 |
| Fixed asset depreciation reserve |
9,390,892 |
{238,203} |
9,152,689 |
| Total |
10,842,463 |
5,614,089 |
16,456,552 |
| 24 |
Analysis ofnetassets between funds |
|
|
|
|
|
Group |
|
|
|
|
|
|
Unrestricted |
Restricted |
|
Total |
|
|
funds |
funds |
|
|
|
|
£ |
|
£ |
£ |
|
Fund balances at 31 March 2021 are represented by: |
|
|
|
|
|
Tangiblefixed assets |
11,365,467 |
12,440,850 |
|
23,806,317 |
|
Cashat bank andOther netcurrent (liabilities)/assels |
5,149,987 |
1,992,177 |
|
7,142,164 |
|
Longterm liabilities |
(58,902) |
|
|
(58,902) |
|
|
16,456,552 |
14,433,027 |
|
30,889,579 |
|
|
Unrestricted |
Restricted |
|
Total |
|
|
funds |
funds |
|
|
|
|
£ |
£ |
|
£ |
|
Fund balances at 31 March2020arerepresented by: |
|
|
|
|
|
Tangiblefixed assets |
11,670,467 |
6,359,029 |
|
18,029,496 |
|
Cashat bank andOther netcurrent (liab!lìties)/assets |
523,142 |
7,246,504 |
|
7,769,646 |
|
Longterm liabilities |
(1,351,146) |
|
|
(1,351,146) |
|
|
10,842,463 |
13,605,533 |
|
24,447,996 |
| Analysis ofnetassets between funds |
|
|
|
| Charity |
|
|
|
|
Unrestricted |
Restricted |
Total |
|
funds |
funds |
|
|
£ |
£ |
£ |
| Fund balancesat 31 March2021 arerepresented by: |
|
|
|
| Tangiblefixed assets |
11,365,468 |
12,440,850 |
23,806,318 |
| CashatbankandOthernetcurrent (liabilities) /assets |
5,126,382 |
1,992,177 |
7,118,559 |
| Longterm liabilities |
{58,902} |
|
(58,902) |
|
16,432,948 |
14,433,027 |
30,865,975 |
|
Unrestricted |
Restricted |
Total |
|
funds |
funds |
|
|
£ |
£ |
£ |
| Fundbalancesat31 March2020are represented by: |
|
|
|
| Tangiblefixedassets |
11,670,468 |
6,359,029 |
18,029,497 |
| CashatbankandOther net current (liabilities) _I_assets |
495,723 |
7,246,504 |
7,742,227 |
| Long term liabilities |
(1,351,146) |
|
(1,351,146) |
|
10,815,045 |
13,605,533 |
24,420,578 |
| 25 |
Cash generated from operations |
2021 |
2020 |
|
|
£ |
£ |
|
Surplus_I_(Deficit) for the year |
6,441,583 |
(676,578) |
|
Adjustments for. |
|
|
|
Net investment income |
|
(28,992) |
|
Depreciation oftangible fixed assets |
475,860 |
476,900 |
|
Impairmentofcurrentasset investments |
25,000 |
|
|
Movements in working capital. |
|
|
|
Decrease/{increase) in debtors |
1,632,981 |
7,895,622 |
|
lncrease/(decrease) in creditors |
282,265 |
578,538 |
|
Cash generated from operations |
8,857,689 |
8,245,490 |
|
Balance at 1 April |
Cash flows |
Other non-cash |
Balance at31 |
|
2020 |
|
changes |
March 2021 |
|
£ |
£ |
£ |
£ |
| Cash and cash equivalents |
|
|
|
|
| Cash |
4,604,119 |
3,694,200 |
|
8,298,319 |
|
4,604,119 |
3,694,200 |
|
8,298,319 |
| Borrowings |
|
|
|
|
| Debtduewithin one year |
(115,138) |
115,138 |
(1,285,995) |
(1,285,995) |
| Debt due afterone year |
(1,280,055) |
|
1,280,055 |
|
|
(1,395,193) |
115,138 |
{5,940) |
(1,285,995) |
| Total |
3,208,926 |
3,809,338 |
(5,940) |
7,012,324 |
|
2021 |
2020 |
|
£ |
£ |
| Within one year |
75,957 |
104,599 |
| Between one and five years |
12,546 |
40,627 |
|
88,503 |
145,226 |