# 

# 



|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<br>upon Tyne|||||
||||NE1 3DQ|||||
|Telephone|||0191261 2694|||||
|Auditor|||RMT Accountants|& Business Advisors||Ltd||
||||Gosforth<br>Park Avenue|||||
||||Newcastle<br>upon Tyne|||||
||||NE12 8EG|||||
|Bankers|||Lloyds Bank pic|||||
||||102 Grey Street|||||
||||Newcastle<br>upon Tyne|||||
||||NE99 1SL|||||
||||Virgin Money|||||
||||131-135Northumberland||Street|||
||||Newcastle<br>upon Tyne|||||
||||NE1 7AG|||||
|Solicitors|||DWF LLP|||||
||||2nd Floor|||||
||||Central Square South|||||
||||Orchard Street|||||
||||Newcastle<br>upon Tyne|||||
||||NE1 3AZ|||||





## 

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





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|Current financial year||||||||
|---|---|---|---|---|---|---|---|
||||Unrestricted|Designated|Restricted|Total|Total|
||||funds|funds|funds|2022|2021|
|||Notes|6|8|8|8|5|
|Income from:||||||||
|Donations<br>and legacies|||958,044||468,943|1,426,987|2,089,144|
|Charitable<br>activities|||114,480|||114,480|36,602|
|Other trading<br>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<br>on:||||||||
|Raising funds||7|270,906|||270,906|239,660|
|Charitable<br>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<br>before transfers|||(429,396)||761,404|332,008|731,017|
|Gross transfers<br>between|funds|23|419,204||(419,204)|||
|Net Income/(expenditure)|for the year/|||||||
|Net movement<br>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|





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|Prior financial|year||||||||
|---|---|---|---|---|---|---|---|---|
|||||Unrestricted|Designated|Restricted|Total|Total|
|||||funds|funds|funds|2021|2020|
||||Notes|6|6|6|6|E|
|Income from:|||||||||
|Donations<br>and|legacies|||2,064,447||24,697|2,089,144|850,642|
|Charitable<br>activities||||36,602|||36,602|219,321|
|Other trading<br>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<br>on:|||||||||
|Raising funds|||7|239,660|||239,660|253,973|
|Charitable<br>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|





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|||||||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|



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|||||||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|



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||||||2022||2021|
|---|---|---|---|---|---|---|---|
||||Notes|||||
|Cash flows from operating||activities||||||
|Cash generated<br>from operations|||29|||||
||||||77,847||928,914|
|Investing<br>activities||||||||
|Purchase oftangible<br>fixed|assets|||(385,233)||(99,994)||
|Interest received||||||97||
|Net cash used in investing||activities|||(385,233)||(99,897)|
|Financing<br>activities||||||||
|Repayment<br>of bank loans||||(76,620)||(4,629)||
|Net cash used<br>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|





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||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|
||funds|funds|2022|2021|
||E|E|5|6|
|Donations<br>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<br>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|





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||||||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<br>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|



## 



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|||||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,<br>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<br>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<br>funds||||772,932|582,587||1,355,519|
|||||772,932|582,587||1,355,519|





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|||Support|Governance|2022|2021|
|---|---|---|---|---|---|
|||costs|costs|||
|||f|6|||
|Employment<br>costs||533,227||533,227|598,221|
|Other staff costs||6,705||6,705|21,275|
|Depreciation||415,458||415,458|372,702|
|Marketing<br>and publicity||19,992||19,992|14,431|
|Premises||94,363||94,363|56,418|
|General<br>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<br>between||||||
|Fundraising||76,825||76,825|89,867|
|Charitable<br>activities||1,030,616|9,114|1,039,730|992,228|
|||1,107,441|9,114|1,116,555|1,082,095|
|Net movement<br>in funds||||2022<br>f|2021<br>6|
|Net movement<br>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<br>ofowned|tangible|fixed assets||415,458|372,702|
|Operating<br>lease charges||||82,725|79,265|



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





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|Number of <br>The average|employees<br>monthly<br>number<br>employees<br>during<br>the year|was:||
|---|---|---|---|
|||2022|2021|
|||Number|Number|
|Charitable<br>activities||15|14|
|Publicity<br>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|





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|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<br>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|





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|16|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<br>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|





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||||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<br>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|



## 



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





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



||||2022||2021|
|---|---|---|---|---|---|
|||Group<br>8|Company<br>6|Group<br>6|Company<br>6|
|Other loans||||||
|Payable|within one year|30,696|30,696|98,380|98,380|
|Payable|after one year|||||





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



## 

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





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|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<br>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<br>funds||1,374,045|1,874,960|(2,304,356)||419,204||1,363,853|
|Restricted funds|||||||||
|Capital redevelopment<br>(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<br>(Live Works)||4,922,606||||(51,643)||4,870,963|
|Capital<br>(Live Theatre)||99,824|463,943||(7,920)|(30,259)||525,588|
|Education<br>and Participation||29,619|5,000|(34,619)|||||
|Fair value reserve||38,175|||||335,000|373,175|
|Total restricted<br>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|





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## 

## 

## 

## 

|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<br>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<br>funds||267,778|2,608,754|(1,902,434)|399,947||1,374,045|
|Restricted funds||||||||
|Capital redevelopment<br>(1995-97)|fund|145|||(22)||123|
|Capital redevelopment<br>(2005-07)|fund|2,002,564|||(266,451)||1,736,113|
|Capital development<br>(Sustain fund)||217,396|||(19,764)||197,632|
|Capital development<br>(The Schoolhouse)||666,168|||(51,070)||615,098|
|Capital development<br>(Live Works)||4,974,249|||(51,643)||4,922,606|
|Capital (Live Theatre)||108,243|2,578||(10,997)||99,824|
|Education<br>and Participation||7,500|22,119||||29,619|
|Fair value reserve||38,175|||||38,175|
|Total restricted<br>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|





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## 

## 

## 

## 

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





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## 

## 

## 

|The following|grant(s) were received as|restricted|funds|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|





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## 

## 

|Name of undertaking|||Nature ofbusiness|Class of|% Held|
|---|---|---|---|---|---|
|||||shareholdlng|Direct Indirect|
|LiveWorks<br>(Newcastle|upon Tyne) Ltd||Capital management|Ordinary|100.00|
|Live Trading<br>Limited|||Commercial<br>operations|Ordinary|100.00|
|The investments<br>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<br>for:||||||
||Investment<br>income recognised||in|profit or loss||(97)|
||Fair value gains|on investment|properties||(335,000)||
||Depreciation<br>and impairment||oftangible fixed assets||415,458|372,702|
||Movements<br>in working<br>capital:||||||
||(Increase)/decrease<br>in stock||||(1,527)|138|
||(Increase)<br>in debtors||||(93,935)|(69,406)|
||Decrease in creditors||||(239,157)|(105,440)|
||Cash generated|from/(absorbed||by) operations|77,847|928,914|





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