OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-03-31-accounts

Registered Registered name North East Theatre Trust Limited North East Theatre Trust Limited North East Theatre Trust Limited
Trading name Live Theatre
Trustees SEmmas
M F Henry
M F Percy
K L H Wlnskell
S Brown
J R McKinnell
8 Hobson
RSCantrill-Fenwick
P T H Shevlin
I A Din
R M Elgie
J A Kell
Charity number 513771
Company number 01697756
Registered offic 29 Broad Chare
Quayside
Newcastle
upon		 Tyne
NE1 3DQ
Telephone 0191261 2694
Auditor Sumer Audltco Limited
The Beehive, Beehive Ring Road
London Gatwick Airport
Gatwlck
United
Kingdom
RH6 OPA
Bankers L(oyds Bank pic
102Grey Street
Newcastle
upon		 Tyne
NE99 1SL
Virgin Money
131-135Northumberland Street
Newcastle
upon		 Tyne
NE1 7AG

Page
Chief Executive's
Annual		 Report 1 —3
Trustees'
Report		 4 —10
independent
Auditor's
Report		 11 —13
Group Statement
of Financial Activities		 14-15
Group Balance Sheet 16—17
Company
Balance Sheet		 18 —19
Group Statement
ofCash		 Flows 20
Notes to the accounts 21 —45

In 2022/23 the charity cont inued inued its fundraising
activiti		 its fundraising
activiti		 es
in support of d		 elivery of its
Revenue
funds raised for		 core, project and Education and Participation activities:
Arts Council England
(core)		 F638,255
Idlewild Trust f5,000
The D'oyly Carte Charitable
John Ellerman
Foundation		 Trust f4,000
f30,000
Hadrian
Trust		 81,000
Newcastle
Culture
Investment		 Fund (NCIF) 810,000
Backstage Trust 825,000
RFFGibson Trust f3,000
John D Fund at The Community Foundation 82,963
John Horseman
Trust		 f5,000
Gillian Dickinson
Trust		 820,000
Garrick Charitable
Trust		 f5,000
RW Mann Trust 82,000
John Thaw Foundation 81,000
Shears Foundation f5,000
29w May 1961Charitable Trust 85,000
Esmfie Fairbairn
Foundation		 (TASK Grant) 87,500
Lucy Winskell
Fund at the		 Community Foundation F825
Catherine
Cookson Charitable		 Trust 821,000

Current financial year
Unrestricted Designated Restricted Total Total
funds funds funds 2023 2022
Notes 6 8 6
Income from:
Donations
and legacies		 677,264 175,142 852,406 1,426,987
Charitable
activities		 187,932 187,932 114,480
Other trading
income		 77,925 77,925 44,800
Investments 832,131 832,131 717,904
Other income 220, 140 220,140 39,732
Total income 1,995,392 175,142 2,170,534 2,343,903
Expenditure
on:
Raising funds 7 265,697 265,697 270,906
Charitable
activities		 8 1,797,166 155,633 1,952,799 1,783,895
Other 14 302,120 302,120 292,094
Total resources expended 2,364,983 155,633 2,520,616 2,346,895
Net gains on investments 13 335,000
Net (outgoing)/incoming
resources before transfers (369,591) 19,509 (350,082) 332,008
Gross transfers
between		 funds 23 422,421 (422,421)
Net income/(expenditure) for the year/
Net movement
In funds		 52,830 (402,912) (350,082) 332,008
Fund balances
at 1 April		 2022 23 1,333,853 30,000 7,981,390 9,345,243 9,013,235
Fund balances at 31 March 23
2023 1,386,683 30,000 7,578,478 8,995,161 9,345,243

Prior financial year
Unrestricted Designated Restricted Total Total
Notes funds funds funds
8		 2022f 2021
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 invsstmsnts 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 yearl
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

2023 2022
Notes F
Fixed assets
Tangible assets 16 5,579,161 5,918,715
Investment properties 15 8,485,000 8,485,000
14,064,161 14,401,715
Current assets
Stack 2,945 3,377
Debtors 19 1,026,282 591,873
Cash at bank and in hand 182,860 678,776
1,212,087 1,274,026
Creditors: amounts falling due within
one year 21 (628,838) (599,804)
Net current assets 583,249 674,222
Total assets less current liabilities 14,647,410 15,075,937
Creditors: amounts falling due after
more than one year 22 (5,652,249) (5,730,694)
Net assets 8,995,161 9,345,243
Income funds 23
Restricted funds 7,205,303 7,608,215
Restricted funds —Fair value reserve 373,175 373,175
Unrestricted designated funds 30,000 30,000
Unrestricted general funds 1,386,683 1,333,853
8,995,161 9,345,243

2023 2022
Notes
Fixed assets
Tangible assets 16 5,579,161 5,916,715
Investment properties 15 4,485,000 4,485,000
Investments 11 11
10,064,172 10,401,726
Current assets
Debtors 19 5,180,873 5,027,885
Cash at bank and in hand 94,208 345,807
5,275,081 5,373,692
Creditors: amounts falling due within
one year 21 (454,630) (462,268)
Net current assets 4,820,451 4,911,424
Total assets less current liabilities 14,884,623 15,313,150
Creditors: amounts falling due after
more than one year 22 (5,652,249) (5,730,694)
Net assets 9,232,374 9,582,456
Income funds
Restricted funds 7,205,303 7,608,215
Restricted funds —Fair value reserve 610,388 610,388
Unrestricted designated funds 30,000 30,000
Unrestricted general funds 1,386,683 1,333,853
9,232,374 9,582,456

2023 2022
Notes
Cash flows from operating activities
Cash absorbed
by operations		 29
(340,388) 77,847
Investing
activities
Purchase oftangible
fixed		 assets (78,102) (385,233)
Interest received
Net cash used in investing activities (78,102) (385,233)
Financing
activities
Repayment
ofbank loans		 (77,426) (76,620)
Net cash used
In financing		 activities (77,426) (76,620)
Net increasel(decrease) in cash and cash
equivalents (495,916) (384,006)
Cash and cash equivalents at beginning ofyear 678,776 1,062,782
Cash and cash equivalents at end ofyear 182,860 678,776

Freehold land and buildings Over 100years straight
line
Leasehold land and buildings Over the term ofthe lease up to a maximum of20 years
straight
line
Plant and machinery 15-25% reducing
balance

Unrestricted Restricted Total Total
funds
f		 fundsf 2023
8		 2022
5
Donations
and giffs		 13,988 13,988 4,154
Grants receivable 649,831 175,142 824,973 1,411,023
Sponsorship 13,445 13,445 11,810
677,264 175,142 852,406 1,426,987
For the year ended 31 March 2022 958,044 468,943 1,426,987

Theatre Education Total Total
activities and 2023 2022
participation
Charitable income 159,557 28,375 187,932 114,480
Analysis
by fund
Unrestricted funds 159,557 28,375 187,932
For the year ended 31 March 2022
Unrestricted funds 85,814 28,666 114,480

5 Other trading Incom e
Unrestricted Total Total
funds 2023 2022
f f E
Bartakes 62,609 62,609 35,710
Bar and buffet income 5,936 5,936 1,234
Venue hire 9,380 9,380 7,856
77,925 77,925 44,800
For the year ended 31 March 2022 44,800 44,800
6 Investment
Income
Unrestricted Total Total
funds
f		 2023 2022f
Rental income 832,131 832,131 717,904
Bank interest receivable
832,131 832,131 717,904
For the year ended 31 March 2022 717,904 717,904
7 Raising funds
2023 2022
F. 6
~d
Support costs (note 9) 30,137 32,325
M
in
an		 d
Support costs (note 9) 39,026 44,500
Trial
gg92I2
Commercial trading operations 191,246 188,568
Governance cost 5,288 5,513
196,534 194,081
265,697 270,906

Theatre Education Total Total
activities and 2023 2022
participation
f 8
Staff costs 25,000 25,000
Production costs 377,024 377,024 316,414
Education and participation expenses 67,123 67,123 69,284
Cleaning 11,948 10,455 22,403 43,337
IT support costs 18,881 6,109 24,990 50,611
Insurance 23,923 20,933 44,856 44,719
Licences 2,454 2,454 4,534
Light and heat 72,174 63,152 135,326 63,487
Printing,
postage and		 stationery 1,429 1,250 2,679 4,300
Repairs and maintenance 24,926 21,810 46,736 71,177
Rent, rates and water 37,404 32,728 70,132 62,895
Subscriptions 5,339 4,671 10,010 4,877
Telephone and fax 1,903 1,665 3,568 5,292
Sundries 1,419 1,244 2,663 3,238
578,824 256,140 834,964 744,165
Share of support costs (see note 9) 943,347 166,473 1,109,820 1,030,616
Share ofgovernance costs (see note 9) 6,813 1,202 8,015 9,114
1,528,984 423,815 1,952,799 1,783,895
Analysis by fund
Unrestricted funds 1,461,814 335,352 1,797,166
Restricted funds 67,170 88,463 155,633
1,528,984 423,815 1,952,799
For the year ended 31 March 2022
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

9 Support costs Support Governance Total Support Governance Total
costs costs 2023 costs costs 2022
F 8 8 8 f
Employment
costs		 597,917 597,917 533,227 533,227
Other staff costs 8,109 8,109 6,705 6,705
Depreciation 415,656 415,656 415,458 415,458
Marketing
and		 publicity 29,588 29,588 19,992 19,992
Premises 106,485 106,485 94,363 94,363
General administrative 21,228 21,228 37,696 37,696
expenses
Audit fees 2,600 2,600 2,600 2,600
Accountancy 5,350 5,350 5,900 5,900
Trustees' expenses 65 65 614 614
1,178,983 8,015 1,186,998 1,107,441 9,114 1,116,555
Analysed
between
Raising funds 69,163 69,163 76,825 76,825
Charitable
activities		 1,109,820 8,015 1,117,835 1,030,616 9,114 1,039,730
1,178,983 8,015 1,186,998 1,107,441 9,114 1,116,555
10 Ntmovement infunds 2023 2022

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 5,350 5,900
Depreciation of owned tangible fixed assets 415,656 415,458
Operating
lease charges		 79,265 82,725

2023f 2022
5
The amount
JA Kelt		 oftravel expenses paid to trustees was: ~62
Remuneration
payable
J A Kelt		 to trustees orconnected persons: 56 100 55000
Employer's
J A Kelt		 National Insurance conlributions on above remuneration: ~62 6369
Pension
contributions		 relating to trustees or connected persons:
JA Kali 1 683 1 65

Number of employee s s
The average monthly number employees during the year was:
2023 2022
Number Number
Charitable
activities		 15 15
Publicity activities 2 2
Fundraising activities 2 2
Management and administration 6 6
25 25
Employment costs 2023 2022
E
Wages and salaries 652,836 599,412
Social security costs 49,170 47,032
Other pension costs 16,633 21,883
718,639 668,327
The number ofemployees whose annual remuneration was 660,000 or more were:
2023 2022
Number Number
f60,000 - f69,999

13 Net gains/Ilosseaj Net gains/Ilosseaj on investments investments
2023
5		 2022f
Fair value gain on investment properties 335,000
14 Other expenditure
2023 2022
f E
Financing costs 302,120 292,094
15 Investment property - group
2023
5
Fair value
At 1 April 2022 8,485,000
Fair value adjustment
At 31 March 2023 8,485,000

2023
5
Fair value
At 1 April 2022 4,485,000
Fair value adjustment
At 31 March 2023 4,485,000

Freehold Leasehold Plant and Total
land and land and machinery
buildings buildings
f f
Cost
At 1 April 2022 3294 615 7820,415 599,358 11,714,388
AddiUons 44,586 33,516 78,102
At 31 March 2023 3,294,615 7,865,001 632,874 11,792,490
Depreciation and impairment
At 1 April 2022 108,038 5,223,648 465,987 5,797,673
Depreciation charged in the year 17,947 352,767 44,942 415,656
At 31 March 2023 125,985 5,576,415 510,929 6,213,329
Carrying
amount
At 31 March 2023 3,168,630 2,288,586 121,945 5,579,161
At 31 March 2022 3,186,577 2,596,767 133,371 5,916,715

Freehold Leasehold Plant and Total
land and land and machinery
buildings buildings
f 8
Cost
At 1 April 2022 3,294,615 7,820,415 599,358 11,714,388
Additions 44,586 33,516 78,102
At 31 March 2023 3,294,615 7,865,001 632,874 11,792,490
Depreciation and impairment
At 1 April 2022 108,038 5,223,648 465,987 5,797,673
Depreciation charged in the year 17,947 352,767 44,942 415,656
At 31 March 2023 125,985 5,576,415 510,929 6,213,329
Carrying
amount
At 31 March 2023 3,168,630 2,288,586 121,945 5,579,161
At 31 March 2022 3,186,577 2,596,767 133,371 5,916,715

A summary
ofthe audited
accounts ofthe subsidiaries		 A summary
ofthe audited
accounts ofthe subsidiaries		 A summary
ofthe audited
accounts ofthe subsidiaries		 Isas follows:
2023 2022
8 8
LiveWorks (Newcastle
upon
Aggregate
amount ofassets
Aggregate
amount of liabilities		 Tyne) Limited
and provisions		 4,443,331
~4880 534		 4,477,702
~4774 8 5
Aggregate amount of net liabilities
Profit and loss
Turnover
(net ofVAT)
Expenses (net ofVAT)
Other gains		 281,000
(241,907)		 314,554
(155,103)
175000
Net profit
Payments		 made to holding
company		 39093
~SS083		 334451
~n&ei
Net profit after donations
2023 2022
E
as restated
Live Trading
Limited
Aggregate
amount ofassets
Aggregate
amount of liabilities		 and provisions 484,815
~484 8 4		 228,006
~228tl05
Aggregate amount offunds
Profit and loss
Turnover
(net ofVAT)
Expenses (net ofVAT)
Other operating
income (net ofVAT)		 1,157,856
(722,793)
202 554		 771,924
(515,076)
~325
Net profit
Payments		 made to holding
company		 637,617
~~6		 289,445
~2~8~5
Net profit/(loss)
after donations

18 Financial Instruments Instruments Instruments
2023 2022
Group Company Group Company
E E E E
Carrying amount offinancial assets
Debt instruments measured at amortised cost
Equity instruments measured at cost less Impairment
Carrying amount offinancial liabilities
Measured at amortlsed cost
19 Debtors
2023 2022
Group Company Group Company
E F E E
Amounts falling due within one year:
Trade debtors 58,613 13,613 7,664
Amounts
due
Prepaymsnts		 from subsidiary
undertakings
and accrued income		 967669 4,982,935
184325		 584 209 4,797,167
230718
20 Loans and overdrafts
2023 2022
Group Company Group Company
E E E E
Other loans
Payable within one year 31,715 31,715 30,696 30,696
Payable after ons year

2023 2022
Group Company Group Company
Notes E E E
Other loans 20 31,715 31,715 30,696 30,696
Other taxation
Trade creditors		 and social security 41,443
370,603		 41,443
291,903		 52,972
294,176		 52,972
257,334
Other creditors 3,521 3,521 4,484 4,484
Accruals and deferred income 181556 86048 217476 116782
Deferred income ls induded in the financial statements as follows:
2023 2022
Group Company Group Company
E E E
Brought forward
Released
in the year
Deferred
in the year		 138,007
(6,055)		 42,311
(867)		 239,164
(112,328)
11 171		 82,939
(40,628)
Carried forward
Creditors: amounts
falling d		 ue after more than one yea r
2023 2022
Group Company Group Company
Notes E E E E
Otherloans 20

Current financial year
Movement In funds
Balance Incoming Outgoing Transfers Fair value Balance at
at 1Aprilresources resources between gains and 31 March
2022 funds losses 2023
E E E E E
~ff
I
df
d
Designated:
Capital maintenance 30,000 30,000
General:
Revenue reserves 1,333,853 1,995,392 (2,364,983) 422,421 1,386,683
Total unrestricted
funds		 1,363,853 1,995,392 (2,364,983) 422,421 1,416,683
estricted
s
Capital redevelopment
(1995-97)		 fund 105 (16) 89
Capital redevelopment fund
(2005-07) 1,469,662 (266,451) 1,203,211
Capital development
(Sustain fund) 177,869 (19,763) 158,106
Capital development
(The Schoolhouse)		 564,028 (51,070) 512,958
Capital development
(Live Works)		 4,870,963 (51,643) 4,819,320
Capital (Live Theatre) 525,588 679 (2,170) (33,478) 490,619
Education
and Participation		 63,463 (63,463)
Creative Programme 111,000 (90,000) 21,000
Fair value reserve 373,175 373,175
Total restricted
funds		 7,981,390 175,142 (155,633) (422,421) 7,578,478
Total funds 9,345,243 2,170,534 (2,520,616) 8,995,161

Prior financial year
Movement In funds
Balance at Incoming Outgoing Transfers Fair value Balance st
1 Aprtlresources resources between gains and 31 Ililarch
2021 funds losses 2022
f 8 8
~ll
st t
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
Itest~rict
SL(ttgtjs
Capital redevelopment
(1995-97)		 fund 123 (18) 105
Capital redevelopment
(2005-07)		 fund 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

Arts Council England F2,000,000
The Catherine
Cookson Charitable		 Trust f300,000
SirJames Knott Trust f75,000
Garfield Wsston
Foundation		 f200,000
Gillian Dickinson Trust f200,000
The Monument
Trust		 f150,000
Department
for Communities		 and Local Government f2,189,273
The Wolfson Foundation f50,000
Fidelity UK Foundation f75,000
Architectural
Heritage
Fund		 F26,100

Education and Participation Education and Participation Education and Participation
The following
grant(s) were received as restricted		 funds in the year.
Newcastle
culture Investment		 Fund (NCIF) f10,000
Backstage Trust f25,000
John D Fund at The Community Foundation f2,963
John Horseman
Trust		 f5,000
John Thaw Foundation F1,000
Shears Foundation f5,000
29"May 1961Charitable
Trust		 f5,000
Esmbs Fairbaim
Foundation		 (TASK Grant) f7,500
R W Mann Trust f2,000

Creative Programme Creative Programme
The following
grant(s) were		 received as restricted funds In the year.
Ths O'Oyly Carts Charitable Trust f4,000
Idlswild
Trust		 f5,000
John Ellerman
Foundation		 f30,000
Hadrian
Trust		 f1,000
Gillian Dickinson Trust f20,000
Ganick Charitable Trust f5,000
Catherine
Cookson Charitable		 Trust f21,000
Regional Theatre Young Director Scheme f25,000

The 1995-97Capital Redevelopment fund f16
Ths 2005-07 Capital Redevelopmsnt fund f266,451
The 2010-11Sustain fund f19,763
The
Live		 School House fund
Works		 f51,070
f51,643
Live Theatre f33,478

Current financial year
Unrestricted Designated Restricted Fair value Total
funds funds funds reserve
f f f 6 6
Fund balances at 31 March 2023 are
represented
by;
Tangible assets 1,761,500 3,817,661 5,579,161
Investment
property		 4,745,183 3,366,642 373,175 8,485,000
Current assets 532,249 30,000 21,000 583,249
Long term liabilities (5,652,249) (5,652,249)
1,386,683 30,000 7,205,303 373,175 8,995,161
Analysis ofnet assets between funds (continued)
Prior financial year
Unrestricted Designated Restricted Fair value Total
funds funds funds I'seervs
6 f 6 6
Fund balances at 31 March 2022 ars
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
LlveWorks (Newcastle upon Tyne) Ltd Capital management Ordinary 100.00
Live Trading
Limited		 Commercial
operations		 Ordinary 100.00

2023f 2022
Within one year 73,000 73,000
Between two and five years 365,000 365,000
In over five years 529,250 602,250
967,250 1,040,250
29 Cash generated
from operations
2023 2022
f f
Surplus/(deficit)
for the year		 (350,082) 332,008
Adjustmsnts
for.
Investment
income recognised		 in profit or loss
Fair value gains on investment properties (335,000)
Depreciation
and Impairment		 oftangible fixed assets 415,656 415,458
Movements
in working
capital:
(Increase)/decrease
in stock		 432 (1,527)
(Increase)
in debtors		 (434,407) (93,935)
Decrease
in creditors		 28,013 (239,157)
Cash (absorbed
by)/ from operations		 (340,388) 77,847