2020-08-31-accounts - Worcester Theatres Charitable Trust Ltd

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		Page
Company Information
Report ofthe Directors		3to8
Report ofthe Independent	Auditom	9to 10
Consolidated Statement	of Financial Activities
Consolidated snd Company Balance Sheet		12
Consolidated Cash Flow	Statement	13
Notes tothe Consolidated	Financial Statements	14to 25

DIRECTORS AND TRUSTEES:	SJ Boffy				-Resigned	10/08/2020	10/08/2020
	Lord R O Faulkner			ofWonmster	-Appointed	22/02/2020
	J C Hodges				-Appointed	10/08/2020
	DE Long				-Resigned	10/08/2020
	J EJ Murfin
	M W Regsn				-Appointed	22/02/2020		and resigned	10/08/2020
	JA Yelland
SECRETARY:	JA Yelland
REGISTERED OFFICE:	Huntingdon	Hall
	Crowngate
	Worcester
	Worcestershire
	WR1 3LD
REGISTERED COMPANY NUMBER:	02233315
REGISTERED CHARITY NUMBER:	701310
AUDITORS:	Richards Sandy Audit Services				Limited (Statutory		Auditor)
	Thomeloe	House
	25 Barboume		Road
	Worcester
	WR1 1RU

CHAR	CHAR	I AB			ANY LIMITE	D BYGUARANTEE
REP		RT	FDIRE		7 R		THE CHARITY
F	R	E				72020 C n In d
PjfiEfiEIEJILfiu)IS					ERS
The company's				auditors are;		Richards Sandy Audit Services Limited
						Thorneloe	House
						25 Barboume		Road
						Worcester
						WR1 1RU
The company's				solicitors are:		Russell snd Co
						Holland House
						Church Street
						Malvern
						Worcester
						WR14 2AH
The company's				bankers are:		Royal Bank	of	Scotland Pic
						5-9St Nicholas		Street
						Worcester
						WR1 1UR

			Unrestricted	Restricted	Total	Total
		Nou s	Fuiiit 5	Fund 6	2020	2019 5
INCOME AND ENDOWMENTS	FROM:
Donations and legacies Charitable activities Other trading activities Investments Other			326,814 675,301 158,932 242	58,547	385,361 675,301 158,932 242	258,495 927,666 232,374 509
						6,000
TOTAL INCOME AND ENDOWNMENTS			1 151289	58 547	1 219836	I 425,044
EXPENDITURE ON:
Raising funds Charitable activities			58,996 1,020,391	57,155	58,996 1,077,557	84,042 1,432,553
TOTAL EXPENDITURE		17	1 079387	57166	1136553	1 516.595
NET INCONIE (EXPENDITURE)			81,902	1,381	83,283	(91,551)
TOTAL FUNDS BROUGHT FORWARD			(4,833)	105,054	100,221	191,772
TOTAL FUNDS CARRIED FORWARD

CHARIT SLECO LIMIT D YG	CHARIT SLECO LIMIT D YG	U
LIDAT H FL TATEM		NT
THE YEAR END D
		Notes tothe cash flow		Group 2020	Group 2019	Parent 2020	Parent 2019
Cash flows from operating activities:		statement		6	2	6	6
Cash generated from operations				63,376	35,469	(37,952)	77,432
Net cash provided by operating activities				63376			77432
Cash flows from investing actlvitiesi
Purchase oftangible fixed assets Interest received Receipt ofdistribution ofprofits from subsidiary				(22,194)	(6,402) 509	(22,194) 242 38,746	(6,402) 509 60,311
Net cash used in investing activities
Change in cash and cash equivalents In the reportlng period				4 4	29. 4 ~211		11,228
Cash and cash eiluivalents at the
beginning ofthe reporting period
Cash and cash equivalents at the end
ofthe reporting period
N ST HECON OLD DC		FLOWSTATE	T
1 RECONCILIATION OF NET INCOME/(EXPENDITURE)			TO NET CASH FLOW		FROM OPERATING ACTIVITIES
				Group	Group	Parent	Parent
				2020 6	2019 f	2020 6	2019 F
Net expenditure forthe reporting (as per the statement offinancial	period activities)			83,283	(91,551)	83,283	(91,551)
Adiustments for:
Depreciation charges Interest received Receipt of distribution of profits from (Increase)/decrease in stocks (Increase)/decrease in debtors Increase/(decrease) in creditors	subsidiary			40,564 (242) 3,557 12,244 (76,030)	40,551 (509) 5,883 24,865 56,230	40,564 (242) (36,746) 200 (57,035) (65,978)	40,551 (509) (60,311) 14,426 54,204
Net cash provided by operating activities

ollowing annual rates in order to write	offeach asset over its
Fixtures, fittings and equipment	:20rE on cost
Motor Vehicles	:33%on cost
Swan Theatre	:1060on cost

COMPARATIVES FOR THE CONSOLIDATED STATEIEEN	T OF FINANCIAL ACTIVlllES
	Unrestricted	Restricted	Total
	Fund	Fund	2IL12
		E	E
INCOEIE AND ENDOWMENTS FROM:
Donations and legacies	233,679	24,816	258,495
Charitable activiTies	927,666		927,666
Other trading activities	232,374		232,374
Investments	509		509
Other	6,000		6,000
TOTAL INCOME AND ENDOWNMENTS
EXPENDITURE ON:
Raising funds	84,042		84,042
Charitable activities	1,361,562	50,991	1,432,553
TOTAL EXPENDITURE
NET INCOEIE (EXPENDITURE)	(65,376)	(26,175)	(91,551)
TOTAL FUNDS BROUGHT FORWARD	60,543	131,229	191,772
TOTAL FUNDS CARRIED FORWARD	4833	105054	100221

TANGIBLE FIXEDASSETS
	Swan Theatre 8		Fixtures,
	Huntlngdon	Hall	Fittings 8	Motor	Group	Parent
	Improvements		Equipment	Vehicles	Total	Total
	6		6	6	6	6
COST
At 1 September 2019	304,871		361,930	24,282	690,883	890,883
Additions	15,993		6,201		22,194	22,194
Disposals
At 31 August 2020
DEPRECIATION:
At 1 September 2019	201,061		348,141	24,282	573,484	573,484
Charge for the year	32,033		8,531		40,564	40,564
Eliminated on disposal
At 31August 2020
NET BOOK VALUE:
At 31August 2020	87,570		11,459		99,029	99,029
At 31 August 2019			13,789		117399	117,399
FIXEDASSET INVESTMENTS
						Unlisted
						Investments

The financial resul	ts ofArts Ent	erprises Worcester Li	mited for the year were as	follows:
			2020	2019
			6
			102,744	148,579
Other income			549
Expenditure
Profit forthe year			38,746	56,777
Gift aid distribution	to charitable	company
Retained earnings
Aggregate capital	and reserves		2	2

F R	THEY D	TA	ST202
9	STOCK
				Group		Group	Parent		Parent
				~220		~21	~22		~219
				E			E
	Goods held for resale					10202			200
									200
10	DEBTORS:AMOUNT FALLING DUE WITHIN ONE YEAR
				Group 2020		Group 2019	Parent 2020		Parent 2019
				E		E	E
	Trade debtors			10,128		27,262	10,128		26,750
	Amount due from -Arts Enterpnses Other debtors	subsidiary; Worcester	Limited	14.196		2,709	118,505 14,196		53,866 2,709
	Prepayments and	accrued income				39,712	31	163	33,632
				57	39
11	CREDITORS: AMOUNT FALLING DUE WITHIN ONE YEAR
				Group		Group	Parent		Parent
				2020		2019	2020		2019
				E			E
	Trade creditors			65,270		90,136	65,131		81,282
	Payments received an account Social security and other taxes Other creditors			151,714 4,170 830		195,414 6,665 1,366	151,714 3,535 830		195,414 4,691 1,366
	Accruals					28,292			23,692
	Payments received on account
				Gmup		Group	Parent		Parent
				~2		2019	2020		2019
				E		E			E
	Balance at 1 September 2019 Received during the current year relating tofuture years			195,414 151,714		163,881 195,414	195,414 151,714		163,881 195,414
	Opening creditor released to revenue Balance at 31August 2020								195,414

INCOMING RESOURCES	INCOMING RESOURCES
				Unrestricted	Restricted	Total	Tat@I
				Funds	Funds	Funds	Funds
				2020f	2020f	2020	2019 f
Donations and	legacies
Grants received	—Worcester City Council			109,739		109,739	114,258
Grants received	- Bransford Trust			20,000		20,000	35,067
Grants received	- Friends ofSwan Theatre		/ Huntingdon	1,500		1,500	5,100
Hall
Grants received	- COVID-19related			138,990		138,990
Grants received	- other			3,961	50,500	54,461	61,020
Donations and	legacies received from	individuals		44,931	8,047	52,978	34,341
Patron scheme				2,897		2,897	8,709
Legacies				4796
				328,814
Charitable activities
Performance income				613,060		613,060	798,095
Performance sponsorshiu				4,629		4,629	22,444
Hall hiring fees				46,283		46,283	87,059
Youth Theatre				6,329		8,329	13,585
Rent - Elgar School ofMusic				5,000		5,000	5,000
Technical Income							1,483
Other trading activities
Raffie				5,903		5,903	12,300
100Clubs				4,315		4,315	5,845
Commission				1,023		1,023	6,211
Sundry				2,418		2,418	11,579
Adveriising				2,603		2,603	5,013
Boxoffice booking fees				39,926		39,926	42,847
Sale offood, drinks and merchandise				102744			148579
				158,932
Investment income
Bank interest				242
Other Income
Management fees - Worcester Festival		Ltd					6,000
TOTAL INCOMING RESOURCES				1,161,289	58,547	1,219,836	1,425,044

EXPENDITURE
			Unrestricted	Restricted	Total	Total
			Funds	Funds	Funds	Funds
			2020 5	~220	2020 f	~21f
Raising funds
100t2ub prizes			1,880		1,880	2,780
Cost offood, drinks and merchandise		held for resale	57116			81 262
			58996		56996	84,042
Charitable Activities
Wages and salaries			309,442		309,442	429,445
Administration subcontractors			12,923		12,923	9,422
Artist fees and other event expenses		- general	274,514		274,514	443,864
Artist fees and other event expenses		- pantomime	144,360	5,752	150,112	149,984
Technical expenses			18,927		18.927	21,914
Youth Theatre			9,634		9,634	10,791
Swan Theatre School						1,000
Performing Rights Society fees			16,104		16,104	19,361
Credit card charges re	5cket sales		11,954		11,954	16,019
Brochure and ticket printing			30,963		30,963	49,061
Advertising			19,869		19,869	21,652
Telephone			7,429		7,429	10,125
Postage and stationery			7,142		7,142	9,852
Photocopier			8,640		8,640	10,518
Repairs and renewals			49,883	17,478	67,361	85,912
Sundry expenses			5,483		5,483	11,955
Insurance			8,372		8,372	8,015
Water			2,789		2,789	3,577
Electricity			23,165		23,165	33,887
Gas			16,723		16,723	21,159
Depreciation			6,628	33,936	40,564	40,551
Bank charges			2,521		2,521	3,348
Professional fees			5,511		5,511	4,809
Bad debts			1,708		1,708
ggygm~n
Auditors remuneration			19,360		19,360	14,999
Auditors remuneration	fcr non audit	work	6347			1 333
					1 077557	1432553
TOTAL EXPENDITURE			1,079,387	57,166	1,136,553	1,516,595

RESTRICTED FUNDS
		As at 1			As at 31
		SePtembsr 2019			August
Swan studio and Huntingdon	Hall project	84,285		(27,530)	56,755
New equipment Satsfiits dish snd screen		12,953	32,000	(4,403) (2,003)	8,550 29,997
Repair fund		316	18,547	(17,478)	1,385
Pantomime Access to sfi performance		4,000 3,500		(4,000) (1,752)	1,748
Youth projects Waits and Simone show support			3,000 5,000		3,000 5,000
					106435

		As at 1			As at 31
		September 2018			August
Swan studio and Huntingdon	Hall project	111,843		(27,558)	84,285
New equipment Repair fund		19,386	17,316	(6,433) (17,000)	12,953 316
Pantomime Access to afi performance			4,000 3,500		4,000 3,500

ANALYS	IS OF GROUP NET ASSETSBETWEEN FUNDS
		Unrestricted	Restdcted	Total
		Funds	Funds	Funds
		2020f	2020f	2020f
FIXEDASSETS
Tangible	fixed assets	17,715	81,314	99,029
CURRENTASSETS
Stocks		6,645		6,645
Debtors		51,369	6,070	57,439
Cash at	bank end in hand	247,182	19,052	266,234
UABILITIES
Amounts	falling due within one year	(245,843)		(245,843)

COMPARATIVE A	NALYSIS OF GROUP NE	T ASSETS BETWEEN FUNDS
			Unrestricted	Restricted	Total
			Funds	Funds	Funds
			2019 f	2019f	2010 f
FIXEDASSETS
Tangible fixed assets			20,161	97,238	117,399
CURRENT ASSETS
Stocks			10,202		10,202
Debtors			69,683		69,683
Cash at bank and	in hand		216,994	7,816	224,810
LIABILlllES
Amounts falling due within one year			(321,873)		(321.873)
NET CURRENT ASSETS					100221
ANALYSIS OF CHARITABLE COMPANY'S		NET ASSETS BElWEEN FUNDS
			Unrestricted	Restricted	Total
			Funds	Funds	Funds
			~202f	~22f	~220
FIXEDASSETS
Tangible fixed assets			17,715	81,314	99,029
Investments			2		2
CURRENTASSETS
Stocks
Debtors			167,922	6,070	173,992
Cash at bank and	in hand		131,898	19,052	150,950
UABILITIES
Amounts falling due within one year			{240,469)		(240,469)

			Unrestricted	Unrestricted	Restricted	Total
			Funds		Funds	Funds
			2019		2019	2019
					5	6
FIXEDASSETS
Tangible	fixed assets		20,161		97,238	117,399
Investments				2			2
CURRENTASSETS
Stocks				200			200
Debtors			116,957			116,957
Cash at	bank and	in hand	164,292		7,816	172,108
LIABILlllES
Amounts	falling due within one year		(306,445)			(306,445)
NET CURRENT ASSETS			4	833	105054	100	221