2023-03-31-accounts - The Maltings (Berwick) Trust

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Trustees		Jonathan Lang
		Scott Sherrard
		Laura Catterall
		Benjamin Curthoys	(Appointed	12August 2022)
		Dean Jackson	(Appointed	12August 2022)
		Helen Milner	(Appointed	15August 2022)
		Wendy Barrett	(Appointed	1 April 2023)
Executive	Director and Chief	Rosanne Lamont
Executive
Also known as		The Maltings
Secretary		Rosanne Lamont
Charity number		701194
Company	number	02332073
Registered	office	The Maltings Theatre &Cinema
		Eastern Lane
		Berwick upon Tweed
		TD15 1AJ
Auditor		Sumer Auditco Limited
		The Beehive, Beehive Ring Road
		London Gatwick Airport
		Gatwick
		United Kingdom
		RH6 OPA
Bankers		CAF Bank Limited
		25 Kings Hill Avenue
		West Mailing
		Kent
		ME194JQ
Solicitors		Adam Douglas (tSon
		49/51 Bridge Street
		Berwick upon Tweed
		TD15 1ES

			Page
Trustees' report			1-9
Independent auditor's	report		10—12
Group Statement offinancial		activities	13—14
Group Balance sheet			15 —16
Charity Balance sheet			17-18
Group Statement ofcash flows			19
Notes to the financial	statements		20- 37

The trustees, who are also the directors	The trustees, who are also the directors	The trustees, who are also the directors	The trustees, who are also the directors	for the	purpose ofcompany	purpose ofcompany
the date ofsignature	of	the financial statements			were:
Jonathan Lang
William Jackson						(Resigned 28 April 2022)
Susan Hallswoith						(Resigned 10January 2023)
Matthew Runham						(Resigned 7 June 2023)
Laura Catterall
Benjamin Curthoys						(Appointed 12August 2022)
Dean Jackson						(Appointed 12August 2022)
Helen Milner						(Appointed 15August 2022)
Wendy Barrett						(Appointed 1 April 2023)
The maximum number		oftrustees	is sixteen.
Staff team as at 31 March 2023
Programme Manager:						Daniel Cox
Duty Manager:						Neil Davidson
Front ofHouse and Box Office:						Januario Espejo
Head of Youth Drama:						Wendy Payne
Front ofHouse, Box	Office and Youth Theatre:					Ross Graham
Front ofHouse, Box	Office snd Gallery			Invigilator:		Sarah Graham
Venue Manager:						Shone Hammon
Executive Director (CEO):						Rosanne Lamont
Head of Visual Arts:						James Lowther
BoxOffice:						Cloudy Manningham
Technical Manager:						James Manningham
Gallery Invigilator:						Caitlin Mutch
Front ofHouse and BoxOffice:						Charlotte Payne
Front ofHouse, Box	Office and Gallery			Invigilator:		Oliver Payne
Gallery Invigilstor:						Daniel Flannigan
Head ofMarketing						Sally Wilson
Learning & Engagement		Manager	(schools)			Val Tobias

Current financial year
			Unrestricted	Restricted	Total	Total
			funds	funds	2023	2022
						Unaudited
		Notes				6
Income and endowments	from:
Donations and legacies			274,732	8,620	283,352	443,570
Charitable activities			436,938	30,798	467,736	244,802
Other trading activities			337,212		337,212	240,485
Investments			894		894	41
Other income			18,000	62,964	80,964
Total income			1,067,776	102,382	1,170,158	928,898
Expenditure on:
Raising funds			64,385	19,614	83,999	32,681
Trading subsidiary			287,823		287,823	228,308
Charitable activities		10	741,658	53,948	795,606	739,237
Other		15	11,427	47,775	59,202	30,748
Total resources expended			1,105,293	121,337	1,226,630	1,030,974
Net income/(expenditure)	for the year/
Net movement in funds			(37,517)	(18,955)	(56,472)	(102,076)
Fund balances at 1 April 2022			235,905	98,472	334,377	436,453
Fund balances at 31 March 2023			198,388	79,517	277,905	334,377

Prior financial year
			Unrestricted	Restricted	Total
			funds	funds	2022
					Unaudited
		Notes		8	E
Income and endowments	from:
Donations and legacies			443,570		443,570
Charitable activities			244,802		244,802
Other trading activities			240,485		240,485
Investments			41		41
Total income			928,898		928,898
Expenditure on:
Raising funds			32,243	438	32,681
Trading subsidiary			228,308		228,308
Charitable activities		10	731,454	7,783	739,237
Other		15	6,198	24,550	30,748
Total resources expended			998,203	32,771	1,030,974
Net income/(expenditure)	for the yeari
Net movement in funds			(69,305)	(32,771)	(102,076)
Fund balances at 1 April 2021			305,210	131,243	436,453
Fund balances at 31 March 2022			235,905	98,472	334,377

					2023		2022
							Unaudited
				Notes
Fixed assets
Tangible assets				16		107,386		145,188
Heritage assets				17		55,300		55,300
Goodwill				18		2,580		5,160
						165,266		205,648
Current assets
Stocks				20	7,244		6,364
Debtors				21	107,628		11,700
Cash at bank and in		hand			135,866		325,932
					250,738		343,996
Creditors:	amounts	falling	due within
one year				22	(135,935)		(188,588)
Net current	assets/(liabilities)					114,803		155,408
Total assets less current			liabilities			280,069		361,056
Creditors:	amounts	falling	due after
more than	one year			23				(26,679)
Provisions	for liabilities					(2,164)
Net assets						277,905		334,377
Income funds
Restricted	funds			27		79,517		98,472
Unrestricted	funds -	general				198,388		235,905
						277,905		334,377

				2023		2022
						Unaudited
			Notes			8
Fixed assets
Tangible assets			16		95,671	135,890
Heritage assets			17		55,300	55,300
Investments			19		100	100
					151,071	191,290
Current assets
Stocks			20	1,100		300
Debtors			21	117,252		23,778
Cash at bank and in		hand		119,328		300,979
				237,680		325,057
Creditors:	amounts	falling due within
one year			22	(112,721)		(172,754)
Nel current	assets/(liabilities)				124,959	152,303
Total assets less current liabilities					276,030	343,593
Creditors:	amounts	falling due after
more than	one year		23			(7,859)
Net assets					276,030	335,734
Income funds
Restricted	funds		27		79,517	98,472
Unrestricted	funds -	general			196,513	237,262
					276,030	335,734

				2023		2022
						Unaudited
			Notes
Cash flows from operating		activities
Cash generated from operations			30		(138,781)	(2,484)
Investing activities
Purchase oftangible fixed	assets			(6,475)		(30,488)
Interest received				894		41
Net cash used in investing		activities			(5,581)	(30,447)
Financing activities
Repayment of bank loans				(45,704)		(70,228)
Net cash used in financing		activities			(45,704)	(70,228)
Net (decrease)/increase	in	cash and cash
equivalents					(190,066)	(103,159)
Cash and cash equivalents		at beginning	ofyear		325,932	429,091
Cash and cash equivalents		at end ofyear			135,866	325,932

Donations and l	ega	cies
			General
			Unrestricted	Restricted	Total	Total
			funds	funds	2023	2022
						Unaudited
						E
Donations and gifts			13,408		13,408	13,301
Grants received			261,324	8,620	269,944	430,269
			274,732	8,620	283,352	443,570
For the year ended		31 March 2022	443,570
Grants receivable for core activities
Northumberland	County Council		80,691		80691	80,692
Arts Council England,		North East	179,633		179,633	179,633
Arts Council England		Culture Recovery Fund				100,000
Coronavirus Job	Retention Scheme					64,417
Charitable Trusts			1,000	8,620	9,620	5,527
			261,324	8,620	269,944	430,269

			Theatre	Cinema	Visual Arts	Classes	Total	Total
					and Dance
			2023	2023	2023	2023	2023	2022
								Unaudited
							E	E
Sales within charitable
activities			186,460	101,119	12,623	11,320	311,522	187,075
Theatre tax relief			78,000				78,000	10,000
Performance	related
grants					69,932		69,932	45,682
Other income					8,282		8,282	2,045
			264,460	101,119	90,837	11,320	467,736	244,802
Analysis by	fund
Unrestricted	funds-
general			264,460	101,119	60,039	11,320	436,938	244,802
Restricted funds					30,798	-	30,798
			264,460	101,119	90,837	11,320	467,736	244,802
For the year	ended 31	March	2022
				Theatre	Cinema	Visual Arts	Classes	Total
						and Dance
				2022	2022	2022	2022	2022
				E	E	E	E	E
Sales within	charitable	activities		122,577	55,424	4,879	4,195	187,075
Theatre tax relief				10,000				10,000
Performance	related grants					45,682		45,682
Other income						2,045		2,045
				132,577	55,424	52,606	4,195	244,802
Analysis by fund
Unrestricted	funds - general			122,577	55,424	52,606	4,195	234,802
Restricted funds
				122,577	55,424	52,606	4,195	234,802

				Unrestricted	Unrestricted
				funds	funds
				general	general
				2023	2022
					Unaudited
					6
Subsidiary	income		(note 7)	317,055	227,280
Bar 8, confectionery			sales	14,174	9,161
Letting				5,983	4,044
Other trading		activities		337,212	240,485

Unrestricted	Unrestricted
funds	funds
general	general
2023	2022
	Unaudited
	6
894	41

						2023	2022
							Unaudited
							6
Turnover						317,055	227,280
Cost ofsales						(81,753)	(55,895)
Gross profit						235,302	171,385
Other income							17,495
Administration	expenses					(229,906)	(172,413)
Profit on ordinary		activities before taxation				5,396	16,467
Deferred tax						2,164
Profit after taxation						3,232	16,467
The assets and		liabilities ofthe subsidiary	were:
Fixed assets						14,295	14,458
Current assets						23,058	31,347
Creditors due	within one year					(33,214)	(28,242)
Creditors falling		due after more than one	year			(2,164)	(18,820)
Net assets						1,975	(1 257)
Aggregate share		capital and reserves				1 975	1,257
Other income
			Unrestricted	Restricted	Total	Restricted	Total
			funds	funds		funds
			2023	2023	2023	2022	2022
						Unaudited	Unaudited
						8	8
Borderlands	income			62,964	62,964
Live Barracks income			18,000		18,000
			18,000	62,964	80,964

				Unrestricted	Restricted	Total Unrestricted	Total Unrestricted	Restricted	Total
				funds	funds		funds	funds
				general			general
				2023	2023	2023	2022	2022	2022
							Unaudited	Unaudited	Unaudited
						E		E	E
	Bar &confectionery			costs
				7,959		7,959	5,094		5,094
	Support and		governance
	costs			56,426	19,614	76,040	27,149	438	27,587
	Trading costs			64,385	19,614	83,999	32,243	438	32,681
10	Charitable	activities
	Current financial year
				Theatre	Cinema	Visual Arts	Classes	Total	Total
						and Dance
				2023	2023	2023	2023	2023	2022
									Unaudited
					E	E			E
	Staff costs			3,000		62,259	7,622	72,881	74,292
	Operating	costs		72,770	46,153	104,195		223,118	174,423
				75,770	46,153	166,454	7,622	295,999	248,715
	Share ofsupport costs (see
	note 11)			229,856	124,653	111,978	13,954	480,441	479,123
	Share ofgovernance			costs
	(see note	11)		9,169	4,973	4,467	557	19,166	11,399
				314,795	175,779	282,899	22,133	795,606	739,237
	Analysis	by fund
	Unrestricted		funds-
	general			303,719	169,773	246,705	21,461	741,658	731,454
	Restricted	funds		11,076	6,006	36,194	672	53,948	7,783
				314,795	175,779	282,899	22,133	795,606	739,237

						Theatre	ClnemaVisual	ClnemaVisual	Arts	Classes	Total
							and		Dance
						2022	2022		2022	2022	2022
						Unaudited	Unaudited	Unaudited		Unaudited	Unaudited
						E	E		E		E
	Staff costs								74,292		74,292
	Operating	costs				70,922	25,381		78,120		174,423
						70,922	25,381	152,412			248,715
	Share of support costs (see				note	250, 122	113,095	107,346		8,560	479,123
	Share ofgovernance			costs	(see
	note 11)					5,950	2,691		2,554	204	11,399
						326,994	141,167	262,312		8,764	739,237
	Analysis	by	fund
	Unrestricted		funds -	general		322,931	139,330	260,568		8,625	731,454
	Restricted	funds				4,063	1,837		1,744	139	7,783
						326,994	141,167	262,312		8,764	739,237
11	Support costs				Support	Governance	Total		Support	Governance	Total
					costs	costs	2023		costs	costs	2022
								Unaudited		Unaudited	Unaudited
									E	E	E
	Staff costs				328,069		328,069		250,450		250,450
	Depreciation impairment		and		41,944		41,944		20,303		20,303
	Boxoffice				18,287		18,287		14,177		14,177
	Premises	&	office costs		105,487		105,487		125,661		125,661
	Marketing				43,709		43,709		68,994		68,994
	General expenses				16,716		16,716		26,484		26,484
	Accountancy					18,435	18,435			12,040	12,040
	Audit fee					3,000	3,000
					554,212	21,435	575,647		506,069	12,040	518,109

Support costs (continued)	Support costs (continued)	Support	Governance	Total	Support	Governance	Total
		costs	costs	2023	costs	costs	2022
					Unaudited	Unaudited	Unaudited
					E	E	E.
Analysed	between
Trading		73,771	2,269	76,040	26,946	641	27,587
Charitable	activities	480,441	19,166	499,607	479,123	11,399	490,522
		554,212	21,435	575,647	506,069	12,040	518,109

The analysi	s ofauditor's	remuneration is	as follo	ws:
					2023	2022
					E	E
Audit ofthe	charity's annual accounts				3,000
Non-audit	services
Independent	examination ofthe charity's		annual	accounts		2,400
Preparation	ofcharity's	annual accounts			2,500	1,200
Preparation	ofTheatre	Tax Relief claim			1,000

The average	monthly number ofemployees during th	e year was:
		2023	2022
			Unaudited
		Number	Number
Full time		9	9
Part time		22	10
		31	19
Employment	costs	2023	2022
			Unaudited
			6
Wages and salaries		551,583	303,499
Social security costs		22,120	16,602
Other pension costs		8,699	4,641
		582,402	324,742

Other
		Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
		funds	funds		funds	funds
		general			general
		2023	2023	2023	2022	2022	2022
					Unaudited	Unaudited	Unaudited
				6	6	8	6
Financing costs		6,427		6,427	6,198		6,198
Borderlands	expenditure		47,775	47,775		24,550	24,550
Live Barracks
expenditure		5,000		5,000
		11,427	47,775	59,202	6,198	24,550	30,748

16	Tangible fixed assets	Tangible fixed assets	- Group
				General	Office	Computer	Studio	Total
				equipment	equipment 8	equipmentrefurbishment
					furnishings
					6
	Cost
	At 1 April 2022			180,556	25,955	50,670	333,407	590,588
	Additions			1,200	4,750	525		6,475
	At 31 March	2023		181,756	30,705	51,195	333,407	597,063
	Depreciation
	At 1 April 2022			137,160	10,145	36,910	261,185	445,400
	Depreciation	charged	in the year	5,077	3,275	4,839	31,086	44,277
	At 31 March	2023		142,237	13,420	41,749	292,271	489,677
	Carrying amount
	At 31 March	2023		39,519	17,285	9,446	41,136	107,386
	At 31 March	2022		43,396	15,810	13,760	72,222	145,188
16	Tangible fixed assets - Charity
				General	Office	Computer	Studio	Total
				equipment	equipment &	equipment	refurbishment
					furnishings
					6		6	6
	Cost
	At 1 April 2022			180,556	13,058	49,807	333,407	576,828
	Additions			1,200		525		1,725
	At 31 March	2023		181,756	13,058	50,332	333,407	578,553
	Depreciation
	At 1 April 2022			137,160	6,101	36,492	261,185	440,938
	Depreciation	charged	in the year	5,077	1,037	4,744	31,086	41,944
	At 31 March	2023		142,237	7,138	41,236	292,271	482,882
	Carrying amount
	At 31 March	2022		39,519	5,920	9,096	41,136	95,671
	At 31 March	2023		43,396	6,957	13,315	72,222	135,890

17	Heritage assets —Group and Charity	Heritage assets —Group and Charity
	At 1 April 2022 and at 31 March 2023		55,300
18	Intangible Fixed assets - Group
			Goodwill
			8
	Cost or valuation
	At 1 April 2022 &31 March 2023		12,900
	Amortisation
	At 1 April 2022		7,740
	Amortisation charged	in the year	2,580
	At 31 March 2023		10,320
	Carrying amount
	At 31 March 2023		2,580
	At 31 March 2022		5,160

Fixed as	set	inves	tments -	Charity
								Other
							investments
								E
Cost or	valuation
At 1 April	2022 &31 March 2023							100
Carrying	amount
At 31 March		2023						100
At 31 March		2022						100
							2023	2022
Other investments			comprise;				E	E
Investments		in subsidiaries					100	100
Stocks
					Group		Charity
					2023	2022	2023	2022
						Unaudited		Unaudited
					E	F	E	E
Shop stock					7,244	6,364	1,100	300
Debtors
					Group		Charity
					2023	2022	2023	2022
						Unaudited		Unaudited
Amounts	falling due within			one	E	E	E	E
Trade debtors					10,713	1,079	10,337	749
Amounts	owed by		subsidiary	undertakings			10,000	4,378
Other debtors					92,995	10,621	92,995	18,651
Prepayments		and	accrued income		3,920		3,920
					107,628	11,700	117,252	23,778

Creditors	: amounts	falling due within o	ne year
				Group		Charity
				2023	2022	2023	2022
					Unaudited		Unaudited
			Notes	6	8	6
Bank and	other loans		24	7,859	26,884	7,859	20,204
Other taxation and social security				12,984
Deferred	income			81,097	130,751	81,097	130,751
Trade creditors				17,848	19,127	9,068	11,973
Accruals				16,147	11,826	14,697	9,826
				135,935	188,588	112,721	172,754
Creditors:	amounts	falling due
				Group		Charity
				2023	2022	2023	2022
					Unaudited		Unaudited
			Notes	6	6	6	6
Bank and	other loans		24		26,679		7,859
Loans and overdrafts
				Group		Charity
				2023	2022	2023	2022
					Unaudited		Unaudited
				6	8	6	6
Bank and other loans				7,859	53,563	7,859	28,063
Payable	within one year			7,859	26,884	7,859	20,204
Payable	after one year				26,679		7,859

Deferred	income
					Group		Charity
					2023	2022	2023	2022
						Unaudited		Unaudited
					E	E	E	E
Other deferred income					81,097	130,751	81,097	130,751
Deferred	income is	included		in the financial statements	as follows:
Deferred	income is	included		within:
Current	liabilities				81,097	130,751	81,097	130,751
Movements in the year:
Deferred	income at	1 April		2022	130,751	99,811	130,751	99,811
Released from previous			periods		(130,751)	(99,811)	(130,751)	(99,811)
Resources deferred		in the		year	81,097	130,751	81,097	130,751
Deferred	income at	31	March 2023		81,097	130,751	81,097	130,751

Current financial year	Current financial year
			Movement in funds
		Balance at 1	Incoming	Resources	Transfers	Balance at 31
		April 2022	resources	expended		March 2023
		6	6	6	6	6
Unrestricted funds
General funds		235,905	1,067,776	(1,105,293)		198,388
Restricted funds
Artistic development		71,642		(22,291)		49,351
Visual Arts Study		720				720
Awards For All - Projection
Equipment		6,051		(3,601)		2,450
Community Foundation/Business
Enterprise - Web		373	8,620			8,993
Third Age Project		1,290				1,290
Heather Sutherland	Exhibition		24,778	(24,778)
Margaret Dickinson	Exhibition		6,020	(6,020)
Borderlands		13,396	62,964	(64,647)		11,713
NCC Branding		5,000				5,000
Total restricted funds		98,472	102,382	(121,337)		79,517
Total funds		334,377	1,170,158	(1,226,630)		277,905

Year ended 31 March 2022
		Movement in funds
	Balance at 1	Incoming	Resources	Transfers	Balance at 31
	April 2021	resources	expended		March 2022
	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited
Unrestricted funds
General funds	305,210	928,898	(998,203)		235,905
Restricted funds
Artistic development	79,258		(7,616)		71,642
Visual Arts Study	720				720
Awards For All - Projection
Equipment	6,656		(605)		6,051
Community Foundation/Business
Enterprise - Web	373				373
Third Age Project	1,290				1,290
Glasgow Boys
Borderlands	37,946		(24,550)		13,396
NCC Branding	5,000				5,000
Total restricted funds	131,243		(32,771)		98,472
Total funds	436,453	928,898	(1,030,974)		334,377

Analysis of net assets between funds	Analysis of net assets between funds
Current financial year
			Unrestricted	Restricted	Total
			E	E
Group
Fund balances at 31 March 2023 are represented		by:
Tangible assets			55,585	51,801	107,386
Heritage assets			55,300		55,300
Goodwill			2,580		2,580
Current assets/(liabilities)			87,087	27,716	114,803
Long term liabilities			(2,164)		(2,164)
			198,388	79,517	277,905
Charity
Fund balances at 31 March 2023 are represented		by:
Tangible assets			43,870	51,801	95,671
Heritage assets			55,300		55,300
Investments			100		100
Current assets/(liabilities)			97,243	27,716	124,959
			196,513	79,517	276,030
For the year ended 31 March 2022
			Unrestricted	Restricted	Total
			Unaudited	Unaudited	Unaudited
			E	E
Group
Fund balances	at 31 March 2022 are represented	by:
Tangible assets			67,495	77,693	145,188
Heritage assets			55,300		55,300
Goodwill			5,160		5,160
Current assets/(liabilities)			134,629	20,779	155,408
Long term liabilities			(26,679)		(26,679)
			235,905	98,472	334,377
Charity
Fund balances	at 31 March 2022 are represented	by:
Tangible assets			58,197	77,693	135,890
Heritage assets			55,300		55,300
Investments			100		100
Current assets/(liabilities)			131,524	20,779	152,303
Long term liabilities			(7,859)		(7,859)
			237,262	98,472	335,734

									2023	2022
										Unaudited
									E	E
	Aggregate compensation								56,708	47,531
30	Cash generated from		operations						2023	2022
										Unaudited
									E	E
	Deficit for the year								(56,472)	(102,076)
	Adjustments	for,
	Investment	income recognised			in statement		offinancial	activities	(894)	(41)
	Depreciation	and impairment		oftangible		fixed assets			44,277	21,705
	Amortisation	of Goodwill							2,580	2,580
	Movements	in working	capital:
	(Increase)/decrease in		stocks						(880)	21,570
	Decrease in	debtors							(83,520)	(6,712)
	increase in	creditors							3,618	29,550
	Increase in	provisions							2,164
	(Decrease)/increase in		deferred		income				(49,654)	30,940
	Cash generated from		operations						(138,781)	(2,484)