2022-08-31-accounts - The Wolverhampton Grand Theatre (1982) Limited

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REPORT OF THE DIRECTORS (INCLUDING	STRATEGIC REPORT)		1 to 7
REPORT OF THE AUDITORS			8 to 10
CONSOLIDATED STATEMENT OF INCOME
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES			12
CONSOLIDATED STATEMENT OF FINANCIAL	POSITION		13
CHARITABLE COMPANY STATEMENT OF FINANCIAL		POSITION	14
CONSOLIDATED CASH FLOW STATEMENT			15
CHARITABLE COMPANY CASH FLOW STATEMENT			16
NOTES TO THE FINANCIAL STATEMENTS			17to 30

CONSOLIDATED STATEMENT OF INCO	CONSOLIDATED STATEMENT OF INCO	ME
For the year ended 31August 2022
				Note	2022f	2021f
THEATRE INCOME				4	7,921,386	101,509
Cost of sales					(5,722,049)	(391,560)
GROSS (DEFICIT)/SURPLUS					2,199,337	(290,051)
Operating expenses					(1,818,647)	(2,076,169)
Other operating income				5	665,486	2,184,851
OPERATING SURPLUS/(DEFICIT)					1,046,176	(181,369)
Investment income receivable					30,712	27,681
SURPLUS/(DEFICIT) BEFORE TAXATION					1,076,888	(153,688)
TAXATION				10
SURPLUS/(DEFICIT) FOR THE FINANCIAL		YEAR			1,076,888	(153,687)
(Loss)/Gain on revaluation of investments					(125,834)	125,087
TOTAL COMPREHENSIVE INCOME	FOR THE FINANCIAL		YEAR	18	951,054	(28,601)
Transfer to revaluation reserve				18	125,834	(125,087)
Transfer to investment programme	reserve			18	(215,519)
Transfer to contingency reserve				18	(502,000)
Surplus/(Deficit) for the year to general		reserve		18	359,369	(153,688)

		Note	Unrestricted	Restricted	2022	2021
			fundsf	Fundsf	Total fundsf	Total fundsf
INCOME
Donations and legacies:
Sponsorship Donations Grants			45,016 27,773 592,697		45,016 27,773 592,697	3,025 25,671 2,156,155
Investment income			30,712		30,712	27,681
Income from
Charitable Activities:
Theatre income Theatre tax relief		4	7,921,386		7,921,386	101,509
TOTAL INCOME			8,617,584		8,617,584	2,314,041
EXPENDITURE
Charitable Activities:
Cost of operation oftheatre		7	7,540,696		7,540,696	2,467,729
TOTAL EXPENDITURE			7,540,696		7,540,696	2,467,729
NET INCOME/(EXPENDITURE)
FOR THE PERIOD			1,076,888		1,076,888	(153,688)
Gain/(Loss) on revaluation	of
investments			(125,834)		(125,834)	125,087
BALANCE BROUGHT
FORWARD			2,113,072		2,113,072	2,141,673
BALANCE CARRIED FORWARD		18	3,064,126		3,064,126	2,113,072

CONSOLIDATED	STATEMENT	OF FINAN	CIAL POSIT	ION
As at 31August	2022
		Note		2022		2021
			E
FIXED ASSETS Tangible assets		12(a)		268,619		329,110
Investments		12(b)
				268,619		329,110
CURRENT ASSETS Stocks Debtors Investments Cash at bank and	in hand	13 14 15	31,218 324,546 1,113,830 4,583,563		8,938 197,226 1,22I.,991 3,371,553
			6,053,157		4,799,708
CREDITORS: FALLING DUE
WITHIN ONE YEAR Advance bookings All other creditors		16	2,670,229 587,421		2,633,557 382,189
			3,257,650		3,015,746
NET CURRENT ASSETS				2,795,507		1,783,962
TOTAL ASSETS LESS CURRENT				3,064,126		2,113,072
LIABILITIES
NET ASSETS				3,064,126		2,113,072
Represented by: Reserve funds		18		3,064,126		2,113,072

As at 31August	2022
		Note	f	2022		f	2021
FIXED ASSETS
Tangible assets Investments		12(a) 12(b)			268,619 200			329,110 200
					268,819			329,310
CURRENT ASSETS
Stocks Debtors Investments Cash at bank and	in hand	13 14 15	31,218 401,741 1,113,830 4,504,778			8,938 205,394 1,221,991 3,349,995
			6,051,567			4,786,318
CREDITORS: FALLING DUE
WITHIN 0NE YEAR
Advance bookings All other creditors		16	2,670,229 586,076			2,633,557 369,006
			3,256,305			3,002,563
NET CURRENT ASSETS				2,795,262			1,783,755
TOTAL ASSETS LESS CURRENT
LIABILITIES				3,064,081			2,113,065
NET ASSETS				3,064,081			2,113,065
Represented by:
Reserve funds		18		3,064,081			2,113,065
APPROVED BYTHE BOARD ON 22		NOVEMBER	2022
AND SIGNED ON ITS BEHALF BY:

		Note	2022	2021
			6	E
CASH FLOWS FROM OPERATING ACTIVITIES
Surplus for the financial year before taxation			951,054	(28,601)
Adjustments for: Depreciation			73,313	74,074
Loss/(Profit) on disposal of fixed assets (Increase)/Decrease in stock (Increase)/Decrease in trade and other debtors Increase/(Decrease) in trade and other creditors			(22,280) (127,320) 241,903	6,626 94,255 876,104
Taxation received
NET CASH GENERATED FROM OPERATING ACTIVITIES			1,116,670	1,022,458
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase oftangible fixed assets			(12,821)	(33,756)
NET CASH FROM INVESTING ACTIVITIES			(12,821)	(33,756)
INCREA5E IN CASH			1,103,849	988,702
CASH AND CASH EQUIVALENTS AT BEGINNING	OF YEAR	21	4,593,544	3,604,842
CASH AND CASH EQUIVALENTS AT END OF YEAR		21	5,697,393	4,593,544

For the year ended 31August 2022
CASH FLOWS FROM OPERATING ACTIVITIES		Note	2022f	2021
Surplus for the financial year Adjustments for:			951,016	(28,601)
Depreciation Loss on disposal offixed assets			73,313	74,074
(Increase)/Decrease in stock (Increase)/Decrease in trade and other debtors Increase/(Decrease) in trade and other creditors			(22,280) (196,348) 253,742	6,626 176,402 867,565
NET CASH GENERATED FROM OPERATING ACTIVITIES			1,059,443	1,096,066
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase oftangible fixed assets			(12,821)	(33,756)
NET CASH FROM INVESTING ACTIVITIES			(12,821)	(33,756)
IN CREA 5E IN CASH			1,046,622	1,062,310
CASH AND CASH EQUIVALENTS AT BEGINNING	OF YEAR	21	4,571,986	3,509,676
CASH AND CASH EQUIVALENTS AT END OF YEAR		21	5,618,608	4,571,986

Theatre income is an	alyse	d as fo	llows:
					2022f	2021f
Box office income Other income					6,029,567 1,891,819	49,617 51,892
					7,921,386	101,509
Theatre income consists		ofthe following		categories:
					2022f	2021f
Sales of goods Sales of services					829,363 7,092,023	4,775 96,734
					7,921,386	101,509
OTHER OPERATING	INCOME
					2022f	2021f
Grants and subsidies	—Covid-19 Support			Grants	592,697	2,156,155
Donations Sponsorship					27,773 45,016	25,671 3,025
					665,486	2,184,851
SURPLUS FOR THE	FINANCIAL		YEAR
is stated after charging/(crediting):
					2022f	2021
Depreciation oftangible		fixed assets			73,313	74,074
Loss on disposal of fixed Auditors' remuneration		assets			12,900	12,692

NO For	TES TO THE FINANCIAL STATEMENTS the year ended 31August 2022	TES TO THE FINANCIAL STATEMENTS the year ended 31August 2022	TES TO THE FINANCIAL STATEMENTS the year ended 31August 2022
7.	ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES
	The	Charity undertakes one direct charitable	activity only.
	(a)	Cost of operation oftheatre
				2022f	2021f
		Show costs Bar and kiosk supplies Wages and salaries (net of recharges) Other costs Postage, stationery and telephone Marketing Glee choir, education and workshops Premises costs Depreciation Loss on disposal of fixed assets		5,007,871 246,263 894,139 130,198 43,992 161,263 675 257,260 73,313	374,461 15,207 731,457 235,150 11,730 159,495 45,371 135,702 74,074
		Support costs (see 7 (b) below)		725,722	685,082
				7,540,696	2,467,729
	(b)	Analysis of support costs
		The Charity allocates its support costs as follows:
				2022	2021
				6	6
		Salaries and wages Office expenses Professional charges		645,391 59,191 21,140	610,922 36,960 37,200
				725,722	685,082

during the year	was as follows:
		2022	2021
		No	No
Non-Executive Production Administration	Directors	8 68 17	6 45 19
		93	70
The aggregate	payroll costs of these persons were as follows:
		2022f	2021f
Wages and salaries Social security costs Pension costs Redundancy costs		1,471,045 120,878 40,287	1,180,096 104,803 43,895 172,404
		1,632,210	1,501,198

r annum	was:
2022	2021
No	No

Taxable	emoluments band
	f60,000 - f70,000 per annum f70,000 - 580,000 per annum f100,000 - f110,000 per annum

	Improvements
	to leasehold	Computer	Fixtures and
COST:	property f	equipmentf	equipmentf	Totalf
As at 31August 2021 Additions Disposals	9,053,657	179,871 7,735	586,369 5,086	9,819,897 12,821
As at 31 August 2022	9,053,657	187,606	591,455	9,832,718
DEPRECIATION:
As at 31August 2021 Charge for the year Eliminated on disposals	8,996,332 11,660	159,224 12,528	335,230 49,125	9,490,786 73,313
As at 31 August 2022	9,007,992	171,752	384,355	9,564,099
BOOK VALUE:
As at 31 August 2022	45,665	15,854	207,100	268,619
As at 31August 2021	57,325	20,646	251,139	329,110

INVESTMENTS
	Shares	in subsidiary
	undertaking
	Group	Charitable
		Company
COST As at 1September 2021		200
Additions
As at 31 August 2022		200

STOCKS
		Group		Charitable	Company
		2022 f	2021 f	2022 f	2021
Goods for resale		31,218	8,938	31,218	8,938
DEBTORS
		Group		Charitable	Company
		2022 f	2021 f	2022 f	2021 f
Trade debtors Amounts due Other debtors Prepayments	from group undertakings and accrued income	190,979 45,410 88,157	24,258 89,935 83,033	108,433 159,747 45,404 88,157	24,258 36,704 61,398 83,033
		324,546	197,226	401,741	205,393

For t	he year ended 31August 2022	he year ended 31August 2022	he year ended 31August 2022
15.	CURRENT ASSET INVESTMENTS
					Group	Charitable	Company
				2022	2021	2022	2021
				E	E	I	E
	Short term deposits
	Brewin Dolphin managed		funds	1,113,830	1,221,991	1,113,830	1,221,991
				1,113,830	1,221,991	1,113,830	1,221,991
16.	ALL OTHER CREDITORS - FALLING DUE WITHIN ONE YEAR
				Group 2022 2021		Charitable 2022	Company 2021
				6	6	E	E
	Trade creditors Social security costs and		other	84,795	60,244	84,750	60,199
	taxation			40,863	11,838	40,863
	Other creditors Accruals and deferred Amounts due to group	income undertakings		55,969 405,794	52,288 257,819	55,969 404,394 100	52,288 256,419 100
				587,421	382,189	586,076	369,006

GROUP
		Investment
		programme reserve f		Contingency Reserve f	Revaluation Reserve f	General reserve f	Total f
At 31 August 2021			849,046	1,330,000	168,262	(234,236)	2,113,072
Surplus	for the				(125,834)	1,076,888	951,054
financial	year
Transfer	(to)/from		215,519	502,000		(717,519)
general	reserve
At 31 August 2022			1,064,565	1,832,000	42,428	125,133	3,064,126
CHAR ITA8 LE CO M		P	ANY
			Investment
			programme reserve f	Contingency Reserve f	Revaluation Reserve f	Genera I reserve f	Total f
At 31 August 2021			849,046	1,330,000	168,262	(234,243)	2,113,065
Surplus	for the				(125,834)	1,076,850	951,016
financial	year
Transfer	(to)/from		215,519	502,000		(717,519)
general	reserve
At 31August 2022			1,064,565	1,832,000	42,428	125,088	3,064,081

				Group	Charitable	Company
			2022 f	2021 f	2022 f	2021 f
Net incoming resources	for	the
financial year			951,054	(28,601)	951,016	(28,601)
Increase in members' funds			951,054	(28,601)	951,016	(28,601)
Members' funds at beginning		ofyear	2,113,072	2,141,673	2113,065	2,141,666
Members' funds at end	of year		3,064,126	2,113,072	3,064,081	2,113,065
ANALYSIS OF NET ASSETS BETWEEN			FUNDS
GROUP
				Unrestricted	Restricted	Total
				fundsf	fundsf	Fundsf
Fund balances at 31 August		2022 are
represented by:
Tangible fixed assets Current assets Creditors: Falling due	within	one year		268,619 6,053,157 (3,257,650)		268,619 6,053,157 (3,257,650)
Total net assets			3,064,126			3,064,126

					Unrestricted	Unrestricted	Restricted	Total
	Fund balances at	31August		2022 are		fundsf	fundsf	fundsf
	represented by:
	Tangible fixed assets Current assets Creditors: Falling due within			one year	268,819 6,051,567 (3,256,305)			268,819 6,051,567 (3,256,305)
	Total net assets					3,064,081		3,064,081
21.	COMPONENTS OF	CASH AND		CASH EQUIVALENTS
					Group		Chantable	Company
					2022 f	2021 f	2022 f	2021 f
	Cash at bank and in hand Current asset investments				4,583,563 1,113,830	3,371,553 1,221,991	4,504,778 1,113,830	3,349,995 1,221,991
					5,697,393	4,593,544	5,618,608	4,571,986
22.	ANALYSIS OF CHANGES		IN NET FUNDS
	GROUP					At 31 August 2021f	Cash flows f	At 31 August 2022 f
	Cash at bank and in hand Current asset investments					3,371,553 1,221,991	1,212,010 (108,161)	4,583,563 1,113,830
						4,593,544	1,103,849	5,697,393

ANALYSIS OF CHANGES IN NET FUNDS	(Continued)
	At 31		At 31
	August 2021 E	Cash flows f	August 2022 E
CHARITABLE COMPANY
Cash at bank and in hand Current asset investments	3,349,995 1,221,991	1,154,783 (108,161)	4,504,778 1,113,830
	4,571,986	1,046,622	5,618,608

2022 F	2021f