2022-03-31-accounts - North East Theatre Trust Limited

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Registered	Registered	name	North East Theatre	Trust	Limited
Trading	name		Live Theatre
Trustees			SEmmas
			MF Henry
			M F Percy
			S M Wilson
			K L H Winskell
			S Brown
			J R McKinnell
			BHobson
			L Robson
			RSCantrlll-Fenwick
			PT H Shevlin
			I A Din
			R M Elgie
			J A Kali			(Appointed	1 April 2021)
Charity	number		513771
Company		number	01697756
Registered		offic	29 Broad Chare
			Quayside
			Newcastle upon Tyne
			NE1 3DQ
Telephone			0191261 2694
Auditor			RMT Accountants	& Business Advisors		Ltd
			Gosforth Park Avenue
			Newcastle upon Tyne
			NE12 8EG
Bankers			Lloyds Bank pic
			102 Grey Street
			Newcastle upon Tyne
			NE99 1SL
			Virgin Money
			131-135Northumberland		Street
			Newcastle upon Tyne
			NE1 7AG
Solicitors			DWF LLP
			2nd Floor
			Central Square South
			Orchard Street
			Newcastle upon Tyne
			NE1 3AZ

			Page
Chief Executive's Annual	Report
Trustees' Report			4 —9
Independent Auditor's Report			10—12
Group Statement of Financial		Activities	13—14
Group Balance Sheet			15
Company Balance Sheet			16
Group Statement ofCash	Flows		17
Notes to the accounts			18 —42

Current financial year
			Unrestricted	Designated	Restricted	Total	Total
			funds	funds	funds	2022	2021
		Notes	6	8	8	8	5
Income from:
Donations and legacies			958,044		468,943	1,426,987	2,089,144
Charitable activities			114,480			114,480	36,602
Other trading income			44,800			44,800	4,234
investments			717,904			717,904	503,221
Other income			39,732			39,732	250
Total income			1,874,960		468,943	2,343,903	2,633,451
Expenditure on:
Raising funds		7	270,906			270,906	239,660
Charitable activities		8	1,741,356		42,539	1,783,895	1,355,519
Other		14	292,094			292,094	307,255
Total resources expended			2,304,356		42,539	2,346,895	1,902,434
Net gains on investments		13			335,000	335,000
Net (outgoing)/incoming
resources before transfers			(429,396)		761,404	332,008	731,017
Gross transfers between	funds	23	419,204		(419,204)
Net Income/(expenditure)	for the year/
Net movement in funds			(10,192)		342,200	332,008	731,017
Fund balances at 1 April	2021	23	1,344,045	30,000	7,639,190	9,013,235	8,282,218
Fund balances at 31 March		23
2022			1,333,853	30,000	7,981,390	9,345,243	9,013,235

Prior financial	year
				Unrestricted	Designated	Restricted	Total	Total
				funds	funds	funds	2021	2020
			Notes	6	6	6	6	E
Income from:
Donations and	legacies			2,064,447		24,697	2,089,144	850,642
Charitable activities				36,602			36,602	219,321
Other trading income				4,234			4,234	106,005
Investments				503,221			503,221	667,902
Other income				250			250	12,360
Total Income				2,608,754		24,697	2,633,451	1,856,230
Expenditure on:
Raising funds			7	239,660			239,660	253,973
Charitable activities			8	1,355,519			1,355,519	1,792,444
Other			14	307,255			307,255	224,462
Total resources expended				1,902,434			1,902,434	2,270,879
Net gains on investments			13					38,175
Net outgoing	resources	before
transfers				706,320		24,697	731,017	(376,474)
Gross transfers	between	funds	23	399,947		(399,947)
Net income/(expenditure)		for the	year/
Net movement	in funds			1,106,267		(375,250)	731,017	(376,474)
Fund balances	at 1 April	2020	23	237,778	30,000	8,014,440	8,282,218	8,658,692
Fund balances at 31 March			23
2021				1,344,045	30,000	7,639,190	9,013,235	8,282,218

						2022		2021
				Notes	6
Fixed assets
Tangible assets				16			5,916,715		5,946,940
investment	properties			15			8,485,000		8,150,000
							14,401,715		14,096,940
Current assets
Stock					3,377			1,850
Debtors				19	591,873			497,938
Cash at bank and in		hand			678,776			1,062,782
					1,274,026			1,562,570
Creditors:	amounts	falling due within
one year				21	(599	804)		(906,645)
Net current	assets						674,222		655,925
Total assets less current liabilities							15,075,937		14,752,865
Creditors:	amounts	falling due after
mors than	one year			22			(5,730,694)		(5,739,630)
Net assets							9,345,243		9,013,235
Income funds
Restricted	funds						7,608,215		7,601,015
Restricted	funds —Fair value reserve						373,175		38,175
Unrestricted	designated		funds				30,000		30,000
Unrestricted	general	funds					1,333,853		1,344,045
							9,345,243		9,013,235

						2022		2021
				Notes
Fixed assets
Tangible assets				16		5,916,715		5,946,940
Investment	properties			15		4,485,000		4,325,000
Investments						11		11
						10,401,726		10,271,951
Current assets
Debtors				19	5,027,885		4,864,169
Cash at bank and in		hand			345,807		743,904
					5,373,692		5,608,073
Creditors:	amounts	falling due within
one year				21	(462,268)		(714,946)
Net current	assets					4,911,424		4,893,127
Total assets less current liabilities						15,313,150		15,165,078
Creditors:	amounts	falling due after
more than	one year			22		(5,730,694)		(5,739,630)
Net assets						9,582,456		9,425,448
Income funds
Restricted	funds					7,608,21 5		7,601,015
Restricted	funds —Fair value reserve					610,388		450,388
Unrestricted	designated		funds			30,000		30,000
Unrestricted	general	funds				1,333,853		1,344,045
						9,582,456		9,425,448

					2022		2021
			Notes
Cash flows from operating		activities
Cash generated from operations			29
					77,847		928,914
Investing activities
Purchase oftangible fixed	assets			(385,233)		(99,994)
Interest received						97
Net cash used in investing		activities			(385,233)		(99,897)
Financing activities
Repayment of bank loans				(76,620)		(4,629)
Net cash used In financing		activities			(76,620)		(4,629)
Net Increase/(decrease)	In	cash and cash
equivalents					(384,006)		824,388
Cash and cash equivalents		at beginning	ofyear		1,062,782		238,394
Cash and cash equivalents		at end ofyear			678,776		1,062,782

	Unrestricted	Restricted	Total	Total
	funds	funds	2022	2021
	E	E	5	6
Donations and gifts	4,154		4,154	2,980
Grants receivable	942,080	468,943	1,411,023	2,069,514
Sponsorship	11,810		11,810	16,650
	958,044	468,943	1,426,987	2,089,144
For the year ended 31 Ililarch 2021	2,064,447	24,697		2,089,144

		Theatre	Education	Total	Total
		activities	and	2022	2021
			participation
Charitable	income	85,814	28,666	114,480	36,602
Analysis by fund
Unrestricted	funds	85,814	28,666	114,480
For the year ended 31 March 2021
Unrestricted	funds	13,602	23,000		36,602

					Unrestricted	Total	Total
					funds	2022	2021
					E	E	E
	Bartakes				35,710	35,710
	Bar and buffet		income		1,234	1,234
	Venue hire				7,856	7,856	4,234
					44,800	44,800	4,234
	For the year	ended		31 March 2021	4,234
6	Investment	income
					Unrestricted	Total	Total
					funds	2022	2021
					E	E	E
	Rental Income				717,904	717,904	503,124
	Bank interest	receivable					97
					717,904	717,904	503,221
	For the year	ended		31 March 2021	503,221		503,221
7	Raising funds
						2022	2021
						E	E
	~Fd
	Support costs					32,325	45,004
	Marketin and		ublici
	Supportcosts					44,500	44,863
	Commercial	trading		operations		188,568	144,767
	Governance	cost				5,513	5,026
						194,081	149,793
						270,906	239,660

				Theatre	Education	Total	Total
				actlvttles	and	2022	2021
				participation
				8	F
Production	costs			316,414		316,414	114,215
Education	and participation		expenses		69,284	69,284	23,966
Cleaning				23,113	20,224	43,337	5,941
ITsupport	costs			42,940	7,671	50,611	36,113
Insurance				23,850	20,869	44,719	39,304
Licences				4,534		4,534	1,841
Light and	heat			33,859	29,628	63,487	33,322
Printing, postage and		stationery		2,293	2,007	4,300	1,239
Repairs and maintenance				37,961	33,216	71,177	31,891
Rent, rates and water				33,544	29,351	62,895	60,353
Subscriptions				2,601	2,276	4,877	4,593
Telephone	and fax			2,822	2,470	5,292	8,453
Sundries				1,727	1,511	3,238	2,060
				525,658	218,507	744,165	363,291
Share ofsupport costs (see			note 9)	772,528	258,088	1,030,616	988,328
Share of governance		costs	(see note 9)	6,832	2,282	9,114	3,900
				1,305,018	478,877	1,783,895	1,355,519
Analysis	by fund
Unrestricted funds				1,299,078	442,278	1,741,356
Restricted	funds			5,940	36,599	42,539
				1,305,018	478,877	1,783,895
For the year ended		31 March 2021
Unrestricted funds				772,932	582,587		1,355,519
				772,932	582,587		1,355,519

		Support	Governance	2022	2021
		costs	costs
		f	6
Employment costs		533,227		533,227	598,221
Other staff costs		6,705		6,705	21,275
Depreciation		415,458		415,458	372,702
Marketing and publicity		19,992		19,992	14,431
Premises		94,363		94,363	56,418
General administrative	expenses	37,696		37,696	15,148
Audit fees			2,600	2,600	2,600
Accountancy			5,900	5,900	1,300
Trustees' expenses			614	614
		1,107,441	9,114	1,116,555	1,082,095
Analysed between
Fundraising		76,825		76,825	89,867
Charitable activities		1,030,616	9,114	1,039,730	992,228
		1,107,441	9,114	1,116,555	1,082,095
Net movement in funds				2022 f	2021 6
Net movement In funds	is stated	after charging/(crediting)
Fees payable to the company's		auditor
- Audit fees				2,600	2,600
- Non audit fees				5,900	1,300
Depredation ofowned	tangible	fixed assets		415,458	372,702
Operating lease charges				82,725	79,265

							2022	2021
							E	8
The amount	oftravel		expenses		paid to trustees was:
J P Beime
J A Kell							362
Remuneration J P Beirne		payable		to trustees orconnected persons:				60,947
J A Kell							55000
Employer's J P Beirne	National		Insurance		contributions	on above remuneration:		7,197
J A Kell							6 369
Pension contributions				relating	to trustees or	connected persons:
J P Beirne								1,828
JA Kell							1 650

Number of The average	employees monthly number employees during the year	was:
		2022	2021
		Number	Number
Charitable activities		15	14
Publicity activities		2	2
Fundraising	activities	2	2
Management	and administration	6	5
		25	23
Employment	costs	2022	2021
		E	6
Wages and	salaries	599,412	644,786
Social security costs		47,032	49,663
Other pension costs		21,883	17,007
		668,327	711,456

13	Net gains/(tosses)	on	Investments	Investments
					2022	2021
					E	E
	Fair value gain on	investment		properties	335,000
14	Other expenditure
					2022	2021
					E	E
	Financing costs				292,094	307,255
15	Investment property		-group
						2022
						E
	Fair value
	At 1 April 2021					8,150,000
	Fair value adjustment					335,000
	At 31 March 2022					8,485,000

	2022
	E
Fair value
At 1 April 2021	4,325,000
Fair value adjustment	160,000
At 31 March 2022	4,485,000

Tangible fixed assets	Tangible fixed assets	- group
			Freehold	Leasehold	Plant and	Total
			land and	land and	machinery
			buildings	buildings
			6	6
Cost
At 1 April 2021			3,294,615	7,435,182	599,358	11,329,155
Additions				385,233		385,233
At 31 March	2022		3,294,615	7,820,415	599,358	11,714,388
Depreciation	and Impairment
At 1 April 2021			90,091	4,870,881	421,243	5,382,215
Depreciation	charged	in the year	17,947	352,767	44,744	415,458
At 31 March	2022		108,038	5,223,648	465,987	5,797,673
Carrying amount
At 31 March	2022		3,186,577	2,596,767	133,371	5,916,715
At 31 March	2021		3,204,524	2,564,301	178,115	5,946,940

			Freehold	Leasehold	Plant and	Total
			land and	land and	machinery
			buildings	buildings
			6	5
Cost
At 1 April 2021			3,294,615	7,435,182	599,358	11,329,155
Additions				385,233		385,233
At 31 March	2022		3,294,615	7,820,415	599,358	11,714,388
Depreciation	and impairment
At 1 April 2021			90,091	4,870,881	421,243	5,382,215
Depreciation	charged	in the year	17,947	352,767	44,744	415,458
At 31 March	2022		108,038	5,223,648	465,987	5,797,673
Carrying amount
At 31 March	2022		3,186,577	2,596,767	133,371	5,916,715
At 31 March	2021		3,204,524	2,564,301	178,115	5,946,940

A summary	ofthe audited acco	unts ofthe	subsidiaries is	as follows:
						2022		2021
						8		6
LlveWorks (Newcastle upon Aggregate amount ofassets Aggregate amount of liabilities		Tyne) Limited and provisions				4,477,702 ~4714 905	4,002,318 ~4414521)
Aggregate	amount of net liabilities
Profit and	loss
Turnover	(net ofVAT)					314,554		233,747
Expenses (net ofVAT) Other gains						(155,103) 175000		(154,502)
Net profit Payments	/(loss) made to holding company					334,451 ~159451	79,245 ~79245
Net profit/(loss) after donations
Live Trading Limited Aggregate amount ofassets Aggregate amount of liabilities		and provisions				228,006 ~228 005	328,670 ~328 889)
Aggregate	amount offunds
Profit and	loss
Turnover (net ofVAT) Expenses (net ofVAT) Other operating income (net ofVAT)						448,150 (191,302) 32 597		273,611 (147,614)
Net profit Payments	made to holding company					289,445 ~289445	125,997 ~725997)
Net profit/(loss) after donations
Financial	instruments
					2022			2021
				Group 6	Company	E Group 6		Company 6
Carrying	amount offinancial	assets
Debt instruments measured at amortised			cost
Equity instruments measured		at cost less	impairment
Carrying	amount offinancial	liabilities
Measured	at amortised cost

Debtors
				2022		2021
			Group 6	Company 8	Group 8	Company f.
Amounts falling due within		one year:
Trade debtors			7,664		75,889	26,349
Amounts due Prepayments	from subsidiary undertakings and accrued income		584 209	4,797,167 230718	- 422 049	4,551,492 286 328

			2022		2021
		Group 8	Company 6	Group 6	Company 6
Other loans
Payable	within one year	30,696	30,696	98,380	98,380
Payable	after one year

					2022		2021
				Group	Company	Group	Company
			Notes	E	E	E	E
Other loans			20	30,696	30,696	98,380	98,380
Other taxation and social security Trade creditors				52,972 294,176	52,972 257,334	1,519 224,041	1,519 194,072
Other creditors				4,484	4,484	5,069	4,469
Accruals and deferred	income			217476	116782	577636	4165062
Deferred income is induded		in the financial	statements	as follows:
					2022		2021
				Group	Company	Group	Company
				E	E	E	E
Brought forward Released in the year				239,164 (112,328)	82,939 (40,628)	484,582 (245,418)	251,151 (168,212)
Deferred in the year				11 171
Carried forward

Credi	tors: amounts falling d	ue after more than one yea	r
				2022		2021
			Group	Company	Group	Company
		Notes	E	E	E	E
Other	loans	20

Current financial year
			Movement		In funds
		Balance at	Incoming	Outgoing		Transfers	Fair value	Balance at
		1 April resources		resources		between	gains and	31 March
		2021				funds	losses	2022
		f	6		6	6		6
Unrestricted funds
Designated:
Capital maintenance		30,000						30,000
General:
Revenue reserves		1,344,045	1,874,960	(2,304,356)		419,204		1,333,853
Total unrestricted funds		1,374,045	1,874,960	(2,304,356)		419,204		1,363,853
Restricted funds
Capital redevelopment (1995-97)	fund	123				(18)		105
Capital redevelopment	fund
(2005-07)		1,736,113				(266,451)		1,469,662
Capital development
(Sustain fund)		197,632				(19,763)		177,869
Capital development
(The Schoolhouse)		615,098				(51,070)		564,028
Capital development (Live Works)		4,922,606				(51,643)		4,870,963
Capital (Live Theatre)		99,824	463,943		(7,920)	(30,259)		525,588
Education and Participation		29,619	5,000	(34,619)
Fair value reserve		38,175					335,000	373,175
Total restricted funds		7,639,190	468,943		(42,539)	(419,204)	335,000	7,981,390
Total funds		9,013,235	2,343,903	(2,346,895)			335,000	9,345,243

Prior financial year
				llllovement	in funds
		Balance at	Incoming	Outgoing	Transfers	Fair value	Balance at
		1 April resources		resources	between	gains and	31 March
		2020			funds	losses	2021
		8	6	6	8		6
Unrestricted funds
Designated:
Capital maintenance		30,000					30,000
General:
Revenue reserves		237,778	2,608,754	(1,902,434)	399,947		1,344,045
Total unrestricted funds		267,778	2,608,754	(1,902,434)	399,947		1,374,045
Restricted funds
Capital redevelopment (1995-97)	fund	145			(22)		123
Capital redevelopment (2005-07)	fund	2,002,564			(266,451)		1,736,113
Capital development (Sustain fund)		217,396			(19,764)		197,632
Capital development (The Schoolhouse)		666,168			(51,070)		615,098
Capital development (Live Works)		4,974,249			(51,643)		4,922,606
Capital (Live Theatre)		108,243	2,578		(10,997)		99,824
Education and Participation		7,500	22,119				29,619
Fair value reserve		38,175					38,175
Total restricted funds		8,014,440	24,697		(399,947)		7,639,190
Total funds		8,282,218	2,633,451	(1,902,434)			9,013,235

Arts Council England			62 000 000
The Catherine Cookson Charitable		Trust	f300,000
Sir James Knott Trust			675,000
Garfield Wsston Foundation			f200,000
Gillian Dickinson Trust			f200,000
The Monument Trust			F150,000
Department for Communities	and	Local Government	L2,189,273
The Wolfson Foundation			F50,000
Fidelity tJK Foundation			575,000
Architectural Heritage Fund			F26,100

The following	grant(s) were received as	restricted	in the year.
Arts Council	—Fit for 50		E298,918
Arts Council	—Klckstart Fund		E84,935
T&F - The Foyle Foundation			E20,000
UHY Hacker	Young Wolfson Foundation	(fit for 50)	E50,000
NCC - Baltic	Chambers		E10,090

The	1995-97Capital Redevelopment	fund	518
The	2005-07 Capital Redevelopment	fund	E266,451
The	2010-11 Sustain fund		E19,763
The	School House fund		E51,070
Live	Works		E51,643
Live	Theatre		E30,259

Current fin	ancial year
		Unrestricted	Designated	Restricted	Fair value	Total
		funds	funds	funds	reserve
		E	E	E	E	E
Fund balances at 31 March 2021 are
represented	by:
Tangible assets		1,748,512		4,168,203		5,916,715
Investment	property	4,745,183		3,366,642	373,175	8,485,000
Current assets		570,852	30,000	73,370		674,222
Long term	liabilities	(5,730,694)				(5,730,694)
		1,333,853	30,000	7,608,215	373,175	9,345,243

Name of undertaking			Nature ofbusiness	Class of	% Held
				shareholdlng	Direct Indirect
LiveWorks (Newcastle	upon Tyne) Ltd		Capital management	Ordinary	100.00
Live Trading Limited			Commercial operations	Ordinary	100.00
The investments in subsidiaries		are all	stated at cost.

					2022	2021
					5	5
	Within one year				73,000	73,000
	Between two and	five years			365,000	365,000
	In over five years				602,250	675,250
					1,040,250	1,113,250
29	Cash generated	from operations
					2022	2021
					6	5
	Surplus/(deficit)	for the year			332,008	731,017
	Adjustments for:
	Investment income recognised		in	profit or loss		(97)
	Fair value gains	on investment	properties		(335,000)
	Depreciation and impairment		oftangible fixed assets		415,458	372,702
	Movements in working capital:
	(Increase)/decrease in stock				(1,527)	138
	(Increase) in debtors				(93,935)	(69,406)
	Decrease in creditors				(239,157)	(105,440)
	Cash generated	from/(absorbed		by) operations	77,847	928,914