2023-03-31-accounts - Cumbria Theatre Trust

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CONTENTS			Page
Company information
Chai Vs Report			2-3
Trustees' and Directors Annual		Report	4-13
Statement ofTrustees'	Responsibilities		14
Independent Auditor's	Report		15-17
Statement of Financial	Activities		18
Balance Sheet			19
Cash Flow Statement			20
Notes to the financial statements			21-38

PRESIDENT	Dame Judi Dench
FOUNDING	Graham Larnont
PRESIDENTS	Vicky Robinson MBE
VICE PRESIDENTS	Nigel lllman
	Doreen Wilkinson
PATRONS	Lord Bragg ofWigton
	SirTony Cunningham
	Hunter Device OBE
	Dame Patricia Routledge OBE
	Edic Robson OBE
	Richard Wilson OBE
DIRECTORS AND	Charles Carter *
TRUSTEES	Kate McLaughlin-Flynn Dr Jim Cox OBE *	*	(Resigned	3/9/2022)
	Steve Freeman
	Elizabeth Freestone	"
	Janaki Fryer-Spedding
	Fiona Lowry'
	Philip Moorhouse*
	Jenna Omeltschenko
	*Member ofFinance Committee
	Member ofArtistic Committee
SECRETARY	Amanda Leader
JOINT CEO	Simon Stephens (Executive Director)
(from 13/3/2023)	Liz Stevenson (Artistic Director)
EXECUTIVE DIRECTOR	James Cobbold		(Resigned	28/9/2022)
	Simon Stephens		(Appointed	13/3/2023)
ARTISTIC DIRECTOR	Liz Stevenson
KEY MANAGEMENT	David Jane- General Manager
PERSONNEL	Amanda Leader- Head	ofFinance
	Rachel SwiR —Head of	Communications	(Resigned 31/3/2023)
	Amy Clewes —Producer
	Shelly Ramsdale —Head of Marketing		and Communications		(appointed	19/7/2023)
REGISTERED	Theatre by the Lake
OFFICE	Lakeside
	Keswick
	Cumbria
	CA12 5DJ
AUDITORS	Azets Audit Services
	Fleet House
	Nsw Road
	Lancaster
	LA1 IEZ
MAIN BANKERS	Barclays Bank pic
	Market Square
	Keswick
	Cumbria
	CA12 5BE
COMPANY NUMBER	1874868
CHARITY NUMBER	516673
TELEPHONE	01768772282
WEBSITE	www. theatre helake. corn

				urrrsslrlclsd	Rssbfsted	Total	rohri
				Funds	Fllnds	2023	2022
				2	2	2
INCOME
Oonsfions				972,297	29,511	1,001,N8	1,064,866
Charitable acfivlties				1,211,845		Iatf1,845	407,815
Other trading scfivifies				234,227
Inveshnent income				1,723		1,723	132
Other income				295,741		295,741	48,701
TOTALINCOME							I678219
EXPENOITVRE
Costs ofgenerafing		funds		101,495		101,495
Costs ofcharitable		activities		2,724,709	215,064	2,938,773	1,731,529
TOTAL							I830406
Net (expenditure)	Iincome before
trarlsfsrs Ilaxation				(110,371)	(185,553)	(295,924)	(152187I
Transfers			19
Net mmmment in funds (net Income after laxation)				(110,371)	(185,553)	(295,924)	(152 187)
Reconciliation offunds
Total funds bmught		forward	19	2,203,076	3,246,172	5,449,248	5,601,435
Total funds carried		forward	19				5,440,246

		Group	Group	Group	Chargy	Chargy
		2023	2022		2023	2022
		2	0		6	2
FIXEDASSETS
Tangible assets	11	4,270,003	4422 108		4,262A03	4,422100
Inlangihs assets	12	I8X00		20.620	48200	20,620
Inusslrrrenls	13				200	200
Total Fixed Asseh		rL200A03	4,44!5700		rL200/03
CURRENTASSETS
Stocks	14	2,773		2,000
Demms	16	442,240	Irr,srd		0oo.toe	26t,135
Cash st bank and In hand
Total Current Assets		1,442A73	1,002053		44130.203	f,dch 007
CREDITORS
Amourm raging dus within one year	10
NET CURRENT ASSETS
TOTAL AS8ET8 LESSCURRENT LIAGIUTIE8						6440240
TOTAL NETA88ETS
Umsslrlcled Funds	19	2,092,706	2203070		2,002,706	2203,070
Resbictsd Funds	19

							Group	Group	Charity	Chsrby
							2023	2022	2023	2022
							8	2		4
Cash aows from operating	activrTres
Net cash provided by (used	in) operagng		activities
Cash aows from lax credas:
Theatre tax cmdit received
Cash flows from Investing	acavltles:
Bank Interest							1.723	132	1,723	t32
Purchase ofproperly plant end equipment							(35,638)	(27,508)	(26A61)	(27,508)
Websits
Net cash (used in) invesgng	activities
Change in cash end cash equivalents		in the		year			(404dt43)	124,575	(458,774)	50,861
Cash and cash equivalents	atthe start	ofthe		year			1401728			1254,071
Cash and cash equivalents	atthe end	of	the	year						1304 032
Recancigstlon ofnel Incomei(expenditure)				lo net cashaow from	opsrallrlg	activities
Net (expenditure) per the SoFA							(295,924)	(152187)	(295,924)	(152187I
Adjuslmenls for.
Depreciation charges							187,823	185,415	185.966	redone
Amorlisation charges							8,320	8,320	8,329	8,320
Dividend* and interest from	investmeras						(1,723)	(132)	(1,723)	(131)
(Increase)/decmase in stocks							78	(402)		2,387
(Increase)/decrease in debtors							(264,741)	(23,934)	(338871)	(01,878)
Increase/(decrease) In credilom										134195
Net cash provided by (used	in) operating		acgvides
Analysis ofcash snd cash	equivalents
Cash In hand							987385	1,401,728	036,150	1,304,932
Total cash and cash equivalents										1,304,932

2	DONATIONS
				2023			2022
		Vnrestrtcted		Restrtcted	Tclal	Unrestrtcted	Restricted	Total
		2		2	5	5	K	2
	Cont grmrfs
	Arts Council England - NPO	615,162			615,182	615,182		6t5,182
	ACE - emergency funding
	ACE-CRF1
	ACE-CRF2						87,099	87,BI9
	ACE-CRF3						135,000	13$,000
	Cumbria Counly Council		1D,DDD		10,060	25,000		25,000
	Agerdale BC —ocvid support grants					40,000
	HMRC -CJRS (furlough)
	Other gmnts		2,50D	29,511	32,011	5,500		5,500
	Dolmtams
	Friends ofTheake by the Lake		5,50D		5A00	29,432	12000	41,432
	Other donations (incl Gih Aid)		76,366		7$,365	93,053	22000	115053
	Lsgeces				262.749
3	INCOME FROM CHARITABLE AcllVITIES
	Theatre Pertbrmancss	1,199,756			1,199,756	395,9$5
	Education &Par5cipation
	The movement in deferred box oflice income	is shown	in note	19.
4	INCOME FROM OTHER TRADING ACllymES
				2023			2022
		unmstrlcted		Restrloled	Total	Unrestricted	Resuicted	Total
				K		2	2	5
	Fwrdreislrrg
	Business partnershlps
	Equlpmenl 8 costume hits stc
	Room hires		11,127
	Total fundralsing actlvlgss
	Trading subsidimy
	Turnover &other income				223100	150,705		160,705
	Total subsidiary activises							150705
	Total income from other activities				234,227	158,705		156705
5	INVESll5ENT INCOME
						2023		2022
						K
	Bank interest received					1,723		132
						1,723

						2023			2022
				Unrastrlmed		Restrichd	Tourt	Unrestricted	Reetrialed	Total
				2		2		2	5	5
Generedng dananons 6gnmts
Direct casts								840		840
Support cosh				6,688			6,606	5,313		5,313
Governance costs					332			302		302
Charged to restricted	funds
				7,020
Fundraising
Direct costs					259		209			0,204
Support costs				6,688			6,068	5,313		5,313
Governance costs					332			302		302
Charged to restricted	funds
										11810
Tredirrg srrbsidlsflr
Direct costs				22,341			22,341	2823		2823
Support coals										77774
Tolal subsidiary ac5vities							87198	eo597		8 697
COSTSOF CHARITABLE ACTIVITIES
Costs oftheatns	aperefkrns		end
perfrwnmrces grrcludlrrg		tourlngf
						2023			2022
				Unrestricted		Restricted	Total	Unrestricted	Restrlated	Tahl
				2		2	2	5	5
In*ouse productions:	actors			267,052			267,052	89,330		89,330
Introuse productions:	creagve			445,255			446255	252,529		252,529
Other direct costs				1,249,270			1,249,270	646,111		046,111
Incoming work: direct	souls
Boxofliae snd house	management
Marketing end publicity				140,486			140,408	55,148		55,148
Suppori costs				745,785			746,705	616,601		616,691
Governance assis				31,199			31,199	28,390		28,390
Charged to rsseicted	funds								740,986
								047,213	740,986
Educaiion and	parricipariarr
Direct costs				30,722			30,722	18,820		18,820
Support costs				27,674			27,574	23,302		23,302
Governance costs				1,328			1,328	1,208		1,205
Charged to restricte	funds

SUPPORT AND	GOVERN	ANCE	COSTS
					202$			2022
			General Support		Governance	Total	General Support	Governance	Total
				2		2	8	8	2
Salaries and related costs				176,967	12,316	1th,283	152500	11,040	164,748
Direct governance	coals
Pmmi!!ss				302,862	2,587	305rtsg	108,014	1,525	200,139
General oflice				129,828	1,145	130.973	140,471	1,142	141,513
Financial				21,110	16,172	$7402	15,005	14,017	30,582
Consultancy and	development			28,609		20.609	27,773		27,773
Deprecladon				193314	971		102771		103740
				eeg,ego
Apporfioned as:
Generating grants	and donations			6,688	332	7,020	5,313	302	5,815
Tneabe pedormances				746,785	31,199	777,984	616,691	28,300	645,051
Participation and	outreach			27,674	1,328	29,002	23,302	1,208	24,510
Fundraislng aNvibes				6,688	332	7,020	5,313	302	5,615
Trading subsidiary				6*855			77.774		77774
Analysis ofgovemanse costs								202$	2022
								8	2
External aurlit								15,975	14,484
Cosh ofTrustee msebngs,		travel,	administrabon	etc.
Apporfionment of	staff costs							10,527	10,405

TANGIBLE Fik	gp ASBETB
		Long Leasehold				Ogice
		Lend 8	Fhrtlrfes	8	Theatre	Equipment
	Gmup	Buildings	Frltln9s		Equtpment	8Software	Tolal
Cost		8	8		5	6	8
As at 1 April 2022		6,778,620	5$,665		826,807	207,636	8,381,728
Additions				13,628	S,498	16,S14		35,638
Dispossis
As at 31March	2023	6,778,620
Depreciation
As at 1 April 2022		2,492,507	494,506		787,709	184,818	3,959,540
Provided		134,581		23,511	18,204	11,528		187,823
Dispossls
As st 31 March	2023
Net Bookvalue
AS al 31 March	2023
As at I April 2022							4.422 188
		Long Leasehold				Oglce
		Land 6	Fixtures	8	Theatre	Equipment
	Charity	Bugdlngs	Fittings		Equipment	8 Sogwars	Total
Cost		8	6		8	6	6
As at I April 2022		6,778,620	568,665		826,807	207,636	8,381,728
Addltlorls				4,351	5,496	16,514		26,361
Disposnls
As at 31March 2023		6778620	497776		801460	215404	8293260
Depreciation
As st I April 2022		2,492,507	494,506		787,709	184,818	3,959,540
Prouded		134,581		21,656	18,204	11,526		185,966
Disposals
As st 31 March 2023			440 922		775 070	187,598	4	030677
Net BookValue
Asst31 March 2023					26,390
As at I April 2022					39098	22819	4	422 188

							Gmlrp	Group	Charity	Charity
14	STOCKS						2023 f	2022 f	202$f	2022f
	Consumable items
							2,773	2850
15	DEBTORS
	Trade dsblors						54,846	3f,134	17,547		2,319
	VAT rsfurd due							17,666	2ratI		17,534
	otlwr debmrs						8,112	50,519	8,047		50,619
	Inter-company balances								194,983	I	12,007
	Theatre tax credit recoverable						255A75	42210	255,275		42 219
	Prepaymenls
							442215
16	CREDITORSr amounts		falling due within one year
	Trade credltom						US.S8O	01,214	114,738		64,921
	Taxation and social secudty						24,802	13,954	21,264		13,084
	Deferred income - advance bookings					17	259,298	190,240	259206	100,240
	Customer credits						7$,429	104,229	73A29	IIM,229
	Third parly resources					18		73,100			73,160
	Other cmditors						1$,976	22363	13,978		22363
	Accruals										70,630
17	MOVEMENTS IN DEFERRED INCOME
									2023	2022
									f	5
	DeFerred income brought		forward						190.240	24,611
	Released In the year								(190,240)	(10,402)
	Deferred in the year
	Deferred income carried		forward							100,240
18	THIRD PARTY RESODRCES								2023	2022
									f	4
	Balance brought forward								73,188	47,376
	Receipts in the year								11,012	71,434
	Withheld for theatre	hire	and other charges
	Forwarded to hiring organisationa			or refunded	to lhsir customers
	Balance carded fonvard

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27	Parent charity ~ Statement ofFinancial Aelivhies	Parent charity ~ Statement ofFinancial Aelivhies	Parent charity ~ Statement ofFinancial Aelivhies	Parent charity ~ Statement ofFinancial Aelivhies	Parent charity ~ Statement ofFinancial Aelivhies	Parent charity ~ Statement ofFinancial Aelivhies
								Llnwstdcmd	Restrieled	Total	Total
								Funds	Funds	2023	2022
								6	6	6	E
	Total incoming resources							2,628,637	29,511	2,658,148	f,597,622
	Total resources expended										1	T49809
	Net (expenditure) Iincome forthe				year
	before trarefers
20	Subsidiary undertaking		-commercial			and trading aotlvlgss
	A summary ofthe resuhs		and closing balances ofthe subsidiary,				TBTL	Services Ltd, is shown below.
											2022
									2		E
	Turnover								223,100			150,705
	Intercompany adjustmenls
	AOTMties for generating	funds:		trading operadons					223,100			150,T05
	Cost ofsales							22,341		2823
	Administration &premises		expenses					w&855		77,774
	Management charge
	Cost oftrading operations											60,697
									135,904			70,107
	Other Income											1a523
	Net prott reported In consolidated				accounm				135,904			80,630
	Add back intercompany	sdjustmenls
	Net prolit for the year reported			by TBTL		Services Ltd			135,904			80,030
	Gst Aid
	Retained In the subsidiary
	As atIhs balance sheet	date, the assets				snd liabilities ofthe subsidiary		warn:
	Non cunent assets								7,422
	Current assets								203,501			128,593
	Creditors: amounts due	within		one	year
	Represented by.
	Aggrsgam share capital	end reserves							100
	Pmfit and Loss Account
									100

							2023		2022
							0		E
Turrlovsr
Intercompany adjustments
Activities for generafrng	funds: irading opemfrons
Cost ofsales
Intercompany adjustments
Administration 0premises expenses
Cost oftrading operations
Net loss reported in consolidated			accourds
Add back intercompany	adjustments
Nst loss for the year reponed		by Theatre		by lhe Lake Produckons	Ltd
Tax Claim
Retained in the subsidiary
As at the balance sheet	date,	Ihe	assets	and liabilisss ofthe subsidiary		wsmr
Current assets								100
Creditors amounts due	within	one year
Represented by:
Aggregate share capital	and reserves							100
Theatm lsx credit:
TTR daimable
Deferred tax asset movement
Credit in accounts

				At 31Mech 2022	Funds designated
Designated funds:
Cultural Recovery Fund	(1)			2,527	(2,527)
Expenditure committed	in 21/22, completed		in 22/23	25,686	(25,686)
Works planned In 21/22, oommissioned		in	22/23	120,365	(120,365)
Strategic Ini0atives and	con0ngency			145,000	(146,000)
Participation					~~275 870