2022-03-31-accounts - Cumbria Theatre Trust

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CONTENTS			Page
Company information
Chai Vs Report			24
Trustees' and Directors Annual		Report	5-7
Statement ofTrustees'	Responsibilities
Independent Auditor's	Report		9-11
Statement of Financial	Activities		12
Balance Sheet			13
Cash Flow Statement			14
Notes to the financial	statements		15-32

PRESIDENT	Dame Judi Deneb
FOUNDING	Graham Lamont
PRESIDENTS	Vicky Robinson MBE
VICE PRESIDENTS	Nigel lllman
	Doreen ytlilkinson
PATRONS	Lord Bragg of Wtgton
	SirTony Cunningham
	Hunter Davies OBE
	Dame Patricia Routledge			OBE
	Eric Robson OBE
	Richard Wilson OBE
DIRECTORSAND TRUSTEES	Charles Carter * Kate McLaughlin-Flynn			*
	Anne Chambers				(Resigned	26/03/2022)
	DrJimCoxOBE*
	Steve Freeman **	**
	Elizabeth Freestone		*		(Appointed	06/04/2021)
	Janaki Fryer-Spedding
	Fiona Lowry*				(Appointed	06/04/2021)
	Philip Moorhouse				(Appointed	06/04/2021)
	Jenna Omeltschenko
	Geoffrey Hall				(Resigned	25/09/2021)
	Godfrey Owen				(Resigned	25/09/2021)
	*Member of Finance	Committee
	Member ofArtisgc	Committee
SECRETARY	Amanda Leader				(Appointed	25/09/2021)
CHIEF EXECUTIVE	James Cobbold
KEY MANAGEMENT	Liz Stevenson —Artistic			Director
PERSONNEL	David Jane —General	Manager
	Rachel Swift- Head	of	Communications
REGISTERED	Theatre by the Lake
OFFICE	Lakeside
	Keswick
	Cumbria
	CA12 5DJ
AUDITORS	Azets Audit Services
	Fleet House
	New Road
	Lancaster
	LA1 1EZ
MAIN BANKERS	Barclays Bank pic
	Market Square
	Keswick
	Cumbria
	CA12 5BE
COMPANY NUMBER	1874868
CHARITY NUMBER	516673
TELEPHONE	017687 72282
WEBSITE	www. theatre thelake.	corn

		Notes	Unrestricted	Unrestricted	Restricted	Total	Total	Total
			Funds		Funds	2022	2021
			6		6		5
INCOME
Donations				808,167	256699	1 064866	2,210,139
Chantable activities				407,815		407,815		5,402
Other trading activities				156,705		156,705		52,053
Investment income				132		132		757
Other income				48,701		48,701		4,289
TOTAL INCOME			I	421 520
EXPENDITURE
Costs ofraising funds				98,877		98,877		43,880
Costs ofcharitable	activities			958,057	775,472	1,731,529	1,434,710
TOTAL			I	054 934	775472	1 830 6	I	478590
Net (expenditure)	IIncome before
transfers Itaxation				386,556	(518,773)	(152,187)		795,050
Transfers		19
Net movement In funds (net income after taxatlon)				366,586	(519,773)	(152,187)		795,050
Reconciliation offunda
Trrial funds brought	forward		1,836,490		3,764,945	5,601,435	4,805,385
Total funds cerned	forward	19				Br449,248	5,601,435

		Group	Group	Charity	Charity
		2022	2021	2022	2021
		2	2	8
FIXED ASSETS
Tangible assets	11	4422.188	4,560008	4422,188	4,580,008
Intangible assets	12	26.520	27.040	26,520	27,040
Investments	13			200
Iotal Fixed Assets		4448,708	4,507,048	4TM8,908	4607248
CURRENTASSETS
Socks	14	ZZI50	2,36T		2,387
Debtors	15	1TTr475	153,542	261.135	169,258
Cash at bank and in hand		1401,728	1277.153	1304 932	12540TI
Total Current Assets		1,582,053	1,433,082	4566.067	1,425,7r6
CREDITORS
Amounts falling due within one year	16				f431 52&)
NETCURRENT ASSETS		1,000,540	994,387	1,000.340	994,18T
TOTAL ASSETSLESSCURRENT	LIAEILlllES	5A49248	5,601435	57I49,248	5601435
TOTAL NETASSETS		5448248	560f 435	5449248	5.601,435
FUNDS
Unresbimed Funds	19	2203,076	1,836,490	2203,076	1,836,490
Restricmd Funds	19	3246,172	3.764.945	3248,472	3,T64,945
		5A48248	5,60f,435	5r449.248	5,601,435

						Group	Group	Charity	Charity	Charity
						2022	2021	2022	2021
						2	5	5	2
Cash flows from operating	activities
Net cash provided by (used	in) operating		activiTies			159841				660 T29
Cash flaws from tax cnxlits:
Theatre tax credit received							133800
Cash flows from investing	activities:
Bank Interest						132	757	132		757
Purchase ofproperly plant	and equipment					(27,598)	(11,669)	(27,598)		(11,6S9)
Website
Net cash (used in) invesang	activaes
Change in cash and cash equivalents		in the		year		124,575	825,742	50,861		816,01T
Cash and cash equivalents	at the start	ofthe		year			451411	1254071		438054
Cash and cash equivalents	at the end	of	the	year					1	254071
Reconcigation ofnet Income/(expenditure)				to net	cashflow from operating	activities
Net (expenditure) per the SoFA						(152,187)	790,761	(152,187)		795,050
Adjustmenls for:
Depreciation charges						185raf8	181,465	185,418		1S1,465
Amorbsabon charges						8.320	6,760	8,320		S,760
Dividends and interest from	investments					(132)	(757)	(131)		(75T)
(Increase)/deaease in stocks						(462)	3,155	2rMT		1,834
(Increase)/decrease in debtors						(23,934)	(6,734)	(91,STS)		107,000
Increase/(decrease) in creditors
Net cash provided by (used	in) operating		acsvities					86 127		860 T29
Analysis ofcash and cash	equivalents
Cash in hand						1W1,728	1,277,153	1,304,932	1,254,071
Total cash and cash equivalents

DONATIONS
			2022			2021
	Unrestricted		Resbtcted	Total	Unmstrlcted	Restricted	Total
			f	f		f	f
Core grants
Arts Counol England - NPO	615,182			616,182	625,534		625,534
ACE - emergency funding					Ieo,ooo		180,000
ACE-CRF1						878,492	878,492
ACE-CRF2			87,099	87,699
ACE-CRF3			135,000	135,000
Cumbria CountyCouncil	25,000			25,000	10,000		10,000
Aeerdale BC- covid suppon grants	40,000			40,000	48,925		40,925
HMRC —CJRS (furlough)					216,997		215,987
Other grants	5,500			5,500
Donetfolis
Friends ofTheatre by the Lake	29,432		12,000	41,432	91,355	35,000	126,WS
Other donaeons (incl Gift Aid)	93053		22000				123830
INCOIBE FROM CHARITABLE ACTIVITIES
Theatre Performances	395,966			395,966	1,383		1,383
Educacon 8 Participation	11649			11849	2019		5019
	407815					3 OOO	5402
The movement in deferred box office income is shown		in note 19.
INCOME FROM OTHER TRADING ACllVITIES
			2022			2021
	Unrestncted		Restricted	Total	Unrestricted	Resbicted	Total
	2		f	f		f	f
Ftindralsing
Business parlnerships
Equipment it costume hire etc					15,353		15,353
Room hires	6000			6000
Total fundraising activities	e,ooo			6,000			15,353
Trading subsidiary
Turnover &other income	150705			150705	36700		36 700
Total subsidiary activities	150705						38700
				156,705	52053		52,053
INVESTMENT INCOME
					2022		2021
					f		8
Bank interest received					132		757
							757

					2022			2021
				Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
				2	6	2	6	f	E
Generaltng donations 6grants
Direct cos'Is				846		846
Suppoh costs				5,313		5.313	5,254			5,254
Governance costs				302		302	248			246
Charged to restricted	funds
				e,461		6,461	5502			5502
Fundreisfng
Dlfect cone				6,204		6,204				9,839
Suppohcosts				5,313		6,313	5,254			5,254
Governance costs				302		302	248
Charged to restricted	funds
				11819		11819	15341
Trading subsidiary
Direct costs				2,823		2,823	2,746			2,746
Support costs				77774		77774	20291			20291
Total subsidiary acawses				80597			23037			2303T
Tots Iexpenditure on	other activities			98877		98877	43,880
COSTS OF CHARITABLE		ACTIVITIES
costs oimeaee opemtions			and
perfermances (including		touring)
					2022			2021
				Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
				8	6	2	6	2	6
In-house productions'	actors			89,330		88,330
In-house productions	creakve			252,529		252,529	(17,862)			(17,552)
Other direct costs				648,111		646,111	459,448			459,448
Incoming work: direct	costs
Scxoffice and house	management
Marketing and publicity				55,148		55,148	13,665			13,666
Support costs				616,691		616,691	776,129			775,129
Gcvefrlsnce costs				28,390		28,390	23,430			23,430
Charged tcress icted	funds				740986			442090
				947,213	740 986	1,688,199	842 721	442090	I	284811
Education and pardclpadon
Direct costs				18,820		18,820	104,997			104,997
Support costs				23,302		23,302	43,909			43,909
Governance ccats				1,208		1,208	993			993
Charged to restricted	funds				34486
				8844	34486	43330				149899

SUPPORT AND GOVERNANCE	SUPPORT AND GOVERNANCE	COSTS
				2022			2021
		General	Suppon	Governance	Total	General Support	Governance	Total
				6	f	2	6	8
Salaries and related costs			152,800	11,949	164,748	232037	13,900	245,537
Direct governance costs							920	920
Premises			108,614	1,525	200,139	251,372	1,150	252,530
General office			140,471	1,142	141,813	82072	823	82,895
Finanaal			15,985	14,617	30,582	3,041	7,077	10,118
Consultancy and development			27,773		27,773	94,522		94,522
Depredation			192,771		193,740	187284	941	188,225
					768,S9S	850,928	24,820	875,755
Appor3aned as:
Gsnerabng grants and donations			5,313	302	5,615	5,254	240	5,502
Theatre performances			610,691	20,390	645,081	778,129	23,430	709,550
Participation and outreach			23,302	1,208	24,510	43,909	993	44,902
Fundraising activities			5,313	302	5,615	5,254	248	5,502
Trading subsidiary			77774		77774	20382	(91)	20291
			728,393	30,202	758,595			875,755
Analysis ofgovernance	costs						2022 8	2021f
External audit							14,484	7,077
Costs ofTrustee meetings,	travel,	admmistration	etc					920
Apportianment ofstaf costs							Igr405	13,900
Apporborlment ofsupport	costs						5413	2,931
							30,201	24,828

				2022
ACtare	and	Freelance	Stage Managers	2
		Fees		82,357	5,974
		Pension contributions		3,985	45
		Employer's	Nl contributions
					6,019

Net movement in total funds forthe year	2022	2021
This is stated after charging	2	f
Auditor's remuneration (for parent and subsidiary)	6,750	7,077
Remuneration toauditors for other seniices	4,250
Depreciation and smortisation	193,740	181,465
Payments under operating leases	9,OBB	11,132
Trustees' remuneration
Trusteed expenses

11 TANGIBLE FIXEDASSETS	11 TANGIBLE FIXEDASSETS
		Long Leasehold				Office
		Land &	Fixtures	&	Theatre	Equipment
Group &Charity		Bugdings	Fltdrigs		Equipment	&Software	Total
Cost		5	5		6	6	E
As at 1 April 2021		6,778,620	554,502		823,820	197,188	8,354,130
Additions				14,163	2,987	10,448		27,598
Disposals
As at 31 hlarch 2022		6,778620	568 665		826,807	207636	8	381728
Depreciation
As at 1 Apnl 2021		2,357,927	468,921		770,176	I77,098	3,774,122
Provided		134,580	25,585		17,533	7,720		185,418
Dlspossls
As at 31 March 2022		2492507					3959540
Nst BookValue
As at31 March 2022
As at 1April 2021							4,56o,oo6
12 INTANGIBLE FIXEDASSETS
Group 8 Charity						Website	Total
Cost						6
As at 1 Apnl 2021						33,800		33,800
Addieons						7,800		7,800
As at31March 2022						41,600		41,600
Amortlsatlon
AS at 1 April 2021						6,760		6,760
Provided						8,320		8,320
As at 31 March 2022						15,060		15,080
Net BookValue
As at31 March 2022						26,520		26,520
Asat1 Apnl 2021								27,040
13 FIXEDASSETINVESTMENTS
			Group		Gmup	Charity	Charity
			2022 f		2021	2022 f	2021f
Shares in subsidiary	undertakings					200		200

					Gmup	Group	Charity	Charity
14 STOCKS					2022 6	2021f	2022 6	2021 6
Consumable ihms					2850	2 387		2387
						2,387		2387
15 DEBTORS
Trade debtors					31,134	687	2.319	587
VAT refund due					17,666	54,250	17,534	53,932
08ter' detaom					50,519	98,605	50,619	ee,332
Inter-company balances							112,807	26,307
Theatre lsxcredit recoverable					42,219		42,219
Prepayments					35,937		35,937
					177475	153,542	261,135	169,258
16 CREDITORS: amounts	falling due within one year
Trade creditors					91,214	165,561	84,921	151,300
Taxation and social securily					13,984	4,331	13,984	4,331
Deferred income - advance		bookings		17	190,240	1,059	190,240	1,059
Deferred income - grants and other				17		23,752		23,752
Customer credits					104,229	130,277	104,229	139,277
Third parly resources				18	73,160	47376	73.160	47,370
Deter creditors					22,363	14,292	22.363	14,202
Accruals					86,323	28,047	76,630	25,142
Loan - Cumbna County Council						I5,000		15000
								431,529
17 MOVEIBENTS IN DEFERRED INCOME
							2022 6	2021f
Deferred income brought	forward						24,811	224,442
Released in the year							(10r402)	(224,442)
Deferred in the year								24,511
Deferred income cerned	forward						190,240	24,81I
18 THIRD PARTY RESOURCES							2022	2021
							6
Balance brought forward							47,376	75,181
Receipts in the year							71,434	58,010
Wahheld fortheatre hire	and	other charges						(853)
Forwarded to hiring organisations			or refunded to their customers
Balance carried forward								47,376

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						Unrestricted	Res'trlcted	Total	Total
						Furida	Furids	2022	2021
							5	5
Total incoming resources						1,340,923	256,699	1,597,622	2,294,943
Total resources expended						974337	775472	1,749,809	1,499,593
Net (expendikure) / income for the
year before transfers									795,050
Subsidiary undertaking		-commercial and trading	activities
A summary ofthe results		and closing balances ofthe	subsidiary,	TBTL	Services	Ltd, isshown below.
							2022		2021
							6		5
Turnover							150,705		20,750
Intercompany adluslments
Activities fcr genemkng	funda trading operations						150,705		20,750
Cost ofsales						2,823		2,746
Administration ii premises		expenses				77,774		20,291
Management charge
Cost oftrading operasons							80,597		23,037
							70,107		(2,287)
orner income									15,950
Net profit reported m consolidated accounts							86,630		13,553
Add back intercompany	adjustments
Net profit for the year reported by TBTLServices Ltd							86,630		13,053
Gih Aid
Retained in the subsidiary
As atthe balance sheet	date, the assets and liabilikes		ofme subsidiary		were:
Current assets									23,400
Creditors: amounts due	within one year
Represented by:
Aggregate share capital	and reserves						100
Profit and Loss Account							86,630
							86,730		100

						2022			2024
						6			8
Tur'hover										44,340
Intercompany adjustments
Activities for generating	funds: trading operations									(4,289)
Cost ofsales								48,629
Intercompany adjustments								(48,629)
Administration &premises expenses
Cost oftrading operations
Net loss reported in consolidated			accounts							(4,289)
Add back intercompany	adjustments
Net loss for the year reported		by	Theatre by ihe Lake Productions	Ltd						(4,289)
Tax Claim										4289
Retained in the subsidiary
As atthe balance sheet	dale,	the	assets and liabilities ofthe subsidiary		were:
Current assets							100			I0,273
Creditors: amounts due	vnthin	one year
										(00
Represented by:
Aggregate share capital	and reserves
Theatre tax credit:
TTRclaimabie										(f,695)
Deferred tax asset movement										5,984
Credit in accoums										4,289

				Funds designated	At 31 March 2022
Designated funds:
Cu/hurst Recovery Fund	(1)			2,527	2,527
Expenditure committed	in 21/22, completed		in 22/23	25,686	25,606
Works planned in 21/22, commissicned		in	22/23	129,365	120,365
8lrategic initiatives and	contingency
					302,570