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2022-07-31-accounts

Reports
Referenceandadministrativeinformation 1
WelcomefromtheChair 3
Trustees'report 5
Independentauditor'sreportonthe
financialstatements 25

Financialstatements Financialstatements
Consolidatedstatementoffinancialactivities
30
Balancesheets 31
Consolidatedstatementofcashflows 32
Principalaccountingpolicies 33
Notestothefinancialstatements 38
BoardMembers AlisonKing,Chair
TuikkuAlaviitala(until5August2021)
CameronBrookhouse
BrettCarron(from11May2022)
KateCavelle
DavidChinn(until16October2021)
MarkFriend(from11May2022)
SueJames
Elizabeth(Betsy)Lynch
SeanLynskey(from11May2022)
BillMorris(until31December2021)
TarunNagpal
ThomasNowacki
DianaSalazar(from11May2022)
DarshakShah
StuartSmith(from11May2022)
PaulSteggall
LesleyStrachan(until30September2021)
WilliamUnderhill
RobertWest(until14April2022)
EstherWallington(from11May2022)
RachelWilliams
CompanySecretary FronigaLambert
SeniorManagementTeam KateWhite—ChiefExecutive
DanCowdrill—CommercialDirector
FronigaLambert—ChiefOperatingOfficer
GlenStewart—DirectorofProfessionalDevelopment
Registeredaddress CoronetStreet
London
N16HD
Companyregistrationnumber 2553293(registeredinEngland&Wales)
Charityregistrationnumber 1006927
Auditor BuzzacottLLP
130WoodStreet
London
EC2V6DL

2021-22 2020-21 2019-20
HigherEducation 46% 37% 34%
Non-HEGrants&Donations 26% 57% 35%
Commercial&Recreational 32% 6% 31%
100% 100% 100%
TotalIncome £2.67m £2.78m £2.70m

Year to 31 July 2022

Trustees

Statement of Trustees responsibilities (continued)

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustees are aware:

The systems of internal control are designed to provide reasonable, but not absolute, assurance against material misstatement or loss. These include:

Identification and management of risks.

The Trustees have formalised the management of risk. The risk register is developed and monitored by the Chief Executive and Senior Management. It identifies risks to the charity in terms of their severity and probability and identifies actions to be taken to mitigate the risks, identifying timescale and responsibility. The Trustees review the register annually.

This report has been prepared in accordance with the special provisions of Section 381 of the Companies Act 2006 relating to small companies.

By order of the Board

Chair of the Board Alison King 23[rd] November 2022

National Centre for Circus Arts 24

Date: 30 November 2022

2022 2021
Unrestricted Restricted Total Total
funds funds funds funds
Notes
£
£ £ £
Incomefrom:
Donationsandcapitalgrants 1
833,622
208,512 1,042,134 1,987,740
Investments 277 277 70
Charitableactivities 2 1,000,965 1,000,965 692,711
Othertradingactivities
Incomefromtradingactivitiesand
otherreceipts 4
627,508
627,508 106,687
Totalincome 2,462,372 208,512 2,670,884 2,787,208
Expenditureon:
Charitableactivities 5 2,275,682 213,385 2,489,067 2,592,468
Raisingfunds
.Fundraisingandpublicity 85,962 85,962 76,000
Commercialtradingcosts 228,119 228,119 111,933
Totalexpenditure 2,589,763 213,385 2,803,148 2,780,401
Net(expenditure)income (127,391) (4,873) (132,264) 6,807
Transfers (4,873) 4,873
Otherrecognisedgains
Taxcredit 18
22,000
22,000 3,508
Netmovementinfunds (110,264) (110,264) 10,315
Reconciliationoffunds
Totalfundsbroughtforward 655,275 2,852,427 3,507,702 3,497,387
Totalfundscarriedforward 545,011 2,852,427 3,397,438 3,507,702
Group Charity
2022 2021 2022 2021
Notes £ £ £ £
Fixedassets
Tangibleassets 11 3,320,054 3,325,879 202,261
208,086
Investments 12 200 200
3,320,054 3,325,879 202,461
208,286
Debtors
Amountsfallingdueaftermorethan
oneyear 14 - 3,140,092 3,140,092
Currentassets
Stock 2,000 4,376 2,000 4,351
Debtors 13 223,804 211,796 165,198 324,440
Cashatbankandinhand 799,325 676,434 631,767 611,055
1,025,129 892,606 798,965 939,846
Liabilities
Creditors:amountsfallingdue
withinoneyear 15 (795,416)
(710,783)
(824,355)
(801,373)
Netcurrentassets/(liabilities) 229,713 181,823 (25,389)
138,473
Creditors:amountsfallingdue
afteroneyear 16 (152,329)
-
(152,329)
Totalassetslesscurrent
liabilities 3,397,438 3,507,702 3,164,835 3,486,851
Fundsof
Restrictedfunds 17 2,852,427 2,852,427 2,852,427 2,852,427
Unrestrictedfunds 545,011 655,275 312,408 634,424
Totalfunds 3,397,438 3,507,702 3,164,835 3,486,851

2022 2021
Note £ £
Netcashprovidedbyoperatingactivities
Netcashusedinoperatingactivities A (52,107) (136,188)
Cashflowsfrominvestingactivities B
Interestreceived 277 70
Purchaseoftangibleassets (11,496) (19,546)
Netcashusedininvestingactivities (11,219) (19,476)
Cashflowsfromfinancingactivities
Loan 186,218
Changeincashandcashequivalentsintheyear 122,891 (155,664)
Cashandcashequivalentsatthestartoftheyear 676,434 832,098
Cashandcashequivalentsattheendoftheyear D 799,325 676,434
A Reconciliationofnetincometonetcashflowfromope ratingactivities
2022 2021
£ £
Net(expenditure)incomefortheyear(asperthe
statementoffinancialactivities) (110,264) 10,315
Adjustedfor:
Depreciationcharges 17,322 17,322
Interestreceivable (277) (70)
Decreaseinstock 2,376 525
Increase)decreaseindebtors (12,008) 28,323
Increase(decrease)increditors 50,744 (192,603)
Netcashprovidedby(usedin)operatingactivities (52,107) (136,188)
B Analysisofcashandcashequivalents
2022 2021
£ £
Cashatbankandinhand 799,325 676,434
Totalcashandcashequivalents 799,325 676,434
C Analysisofchangesinnetdebt
Analysisofchangesinnetdebt
At1August At31July
2021 Cashflows 2022
£ £ £
Cash 676,434 122,891 799,325
Loansfallingduewithinoneyear (33,889) (33,889)
Loansfallingdueaftermorethanoneyear - (152,329) (152,329)
Total 676,434 (63,327) 613,107

Grants
2022
Unrestricted Restricted Total
£ £ £
ArtsCouncilEngland 426,173 - 426,173
CoronavirusJobRetentionScheme 639 639
ConservatoireforDance&Drama(note3) 387,387 5,000 392,387
JackPetcheyFoundation 5,850 5,850
JerwoodArts - 19,915 19,915
LeverhulmeTrust - 48,013 48,013
ContemporaryDanceSchool(London) 69,579 69,579
SensoryCircus - 8,100 8,100
Sundrydonations 19,423 52,055 71,478
833,622 208,512 1,042,134
2021
Unrestricted Restricted Total
£ £ £
ArtsCouncilEngland 1,181,157 - 1,181,157
CoronavirusJobRetentionScheme 270,326 270,326
ConservatoireforDanceandDrama 338,439 21,015 359,454
JackPetcheyFoundation 250 500 750
JerwoodArts - 15,855 15,855
LeverhulmeTrust - 50,987 50,987
ContemporaryDanceSchool(London) 78,865 78,865
SensoryCircus 9,000 9,000
Sundrydonations 21,346 - 21,346
1,811,518 176,222 1,987,740

Incomefromcharitableactivities
2022 2021
£ £
FeesfromUKandinternationalhighereducationstudents 623,750 640,671
Auditionandotherfees 7,059 3,541
ArtistsDevelopmentincome 31,647 5,972
ShortCourseincome 338,509 42,527
1,000,965 692,711

2022 2021
£ £
ContributionsfromCDD(seenote 1) 387,387 338,439

Othertradingactivities
2022 2021
£ £
Workspaceandroomhire 442,250 100,039
Classes,courses,andworkshops 33,884 4,530
Fundraisingincome 124,492
Otherincome 26,882 2,118
627,508 106,687
Directcharitableexpenditure
Direct Support Totalfunds
Costs Costs 2022
£ £ £
ArtistsDevelopment 60,909 228.513
289,482
HigherEducation 666,652 490,025 1,156,677
Commercial,learningandrecreational 473,007 485,857 958,864
Training 38,371 45,673 84,044
1,238,999 1,250,068 2,489,067
Direct Support Totalfunds
Costs Costs 2021
£ £ £
ArtistsDevelopment 44,424 269,846 314,270
HigherEducation 674,316 677,439 1,351,755
Commercial,learningandrecreational 515,227 383,029 898,256
Training 59,802 156,318 216,120
1,293,769 1,486,632 2,780,401

Total
Governance Administration IT Operations 2022
£ £ £ £ £
ArtistsDevelopment 778 26,126 1,506 200,103 228,513
HigherEducation 8,725 293,075 16,896 171,329 490,025
Access,outreachandeducational 11,956 266,327 15,354 192,220 485,857
Training 1,195 40,151 2,315 2,012 45,673
22,654 626,679 36,071 565,664 1,250,068
Total
Governance Administration IT Operations 2021
£ £ £ £ £
ArtistsDevelopment 2,525 20,313 2,565 244,443 269,846
HigherEducation 28,278 227,519 28,734 392,908 677,439
Access,outreachandeducational 24,852 187,224 22,252 145,701 383,029
Corporateactivity 6,749 54,299 6,857 16,477 83,382
Training 7,027 56,534 7,140 1,235 71,936
69,431 545,889 70,548 800,764 1,486,632

Fundraisingandpublicity
2022 2021
£
Fundraisingandpublicity 85,962 76,000
8 Governancecosts
2022 2021
£ £
Bankandotherfinancecharges 1,923 4,873
Auditfees 20,731 20,025
Staffcosts 44,533
22,654 69,431

9 Netincome
Netincomeisstatedaftercharging:
2022 2021
£ £
Depreciationoftangiblefixedassets 17,322 17,322
Operatingleaserentals 61,786 67,500
Auditor'sremuneration 20,731 20,025
10 Staffcosts
2022 2021
£ £
Wagesandsalaries 1,649,180 1,563,888
Socialsecuritycosts 139,967 120,041
Pension 29,038 29,038
1,818,185 1,712,967
Theaveragemonthlynumberofemployee sduringtheperiodwasasfollows:
2022 2021
No. No,
Tutors 56 67
Administration 43 41
99 108
particularlyamongthehighlyspecialisedte achingdisciplines.Thefull-timeequiva lentsare:
2022 2021
No. No.
Tutors 7 10
Administration 38 39
45 49

2022 2021
No. No.
£60,000 -£70,000 1
£70,000 -£80,000 1 1

Tangibleassets
Improve-
mentsto
Leasehold leasehold Plant&
premises premises equipment Total
Group
Cost
At1August2021 3,999,186 155,601 142,103 4,296,890
Additions 11,497 11,497
31July2022 3,999,186 155,601 153,600 4,308,387
Depreciation
At1August2021 881,393 16,717 72,901 971,011
Chargefortheperiod 3,112 14,210 17,322
At31July2022 881,393 19,829 87,111 988,333
Netbookvalue
At31July2022 3,117,793 135,772 66,489 3,320,054
At1August2021 3,117,793 138,884 69,202 3,325,879

11 Tangibleassets(continued)
Improvements
toleasehold Plant&
premises equipment Total
Charity E E £
Cost
At1August2021 155,601 142,103 297,704
Additions 11,497 11,497
At1August2021and31July2022 155,601 153,600 309,201
Depreciation
At1August2021 16,717 72,901 89,618
Chargefortheperiod 3,112 14,210 17,322
At31July2022 19,829 87,111 106,940
Netbookvalue
At31July2022 135,772 66,489 202,261
At1August2021 138,884 69,202 208,086
12 Fixedassetinvestments
Charity 2022 2021
Investmentinsubsidiaries £ £
Cost
At1August2021and31July2022 200 200
Netbookvalue
At31July2022 200 200
At1August2021 200 200
below.Auditedfinancialstatementsforthesesubsidi
RegistrarofCompanies.
ariesarefiledannuall ywiththe
2022 2021
CircusSpaceEventsCompanyLimitedresults £ £
Profitandloss
Turnover 362,093 354
Administrativeexpenses (103,731) (31,215)
Operatingprofit(loss) 258,362 (2,861)
Profitandlossreserve
Broughtforwardat1August2021 (2,861) 26,668
Operatingprofit(loss) 258,362 (2,861)
DistributiontoNationalCentreforCircusArts (26,668)
Carriedforwardat31July2022 255,501 (2,861)

2022 2021
Balancesheet £ £
Debtors 204,907 40,477
Cashatbankandinhand 125,510 48,715
330,417 89,192
Creditors:amountsfallingduewithinoneyear (74,816) (91,953)
Netcurrentassets 255,601 (2,761)
Capitalandreserves 255,501 (2,861)
Calledupsharecapital 100 100
Totalequity 255,601 (2,761)
2022 2021
CircusSpacePropertyLimitedresults £ £
Profitandloss
Turnover 136,194 99,685
Administrativeexpenses (107,036) (89,740)
Operatingprofit 29,158 9,945
Taxcredit
Profitforthefinancialyear 29,158 9,945
Profitandlossreserve
Broughtforwardat1August2021 48,660 78,502
Operatingprofit 29,158 9,945
DistributiontoNationalCentreforCircusArts (9,228) (39,787)
Carriedforwardat31July2022 68,590 48,660
2022 2021
Balancesheet £ £
Tangiblefixedassets 3,117,790 3,117,790
3,117,790 3,117,790
Debtors 200,149 258,064
Cashatbankandinhand 42,049 16,664
242,198 274,728
Creditors:amountsfallingduewithinoneyear (151,206) (203,666)
Netcurrentassets 90,992 71,062
Creditors:amountsfallingdueaftermorethanoneyear (3,140,092) (3,140,092)
Netassets 68,690 48,760
Capitalandreserves 68,590 48,660
Calledupsharecapital 100 100
Totalequity 68,690 48,760

Debtors
2022 2021
Group Charity Group Charity
£ £ £ £
Tradedebtors 79,445 37,553 7,918 5,369
Amountsowedbysubsidiaries - - - 108,910
Otherdebtors 11,859 11,859 33,561 33,561
Prepaymentsandaccruedincome 132,500 115,786 170,317 176,600
223,804 165,198 211,796 324,440

Debtors:Amountsdueaftermorethan oneyear
2022 2021
Group Charity Group Charity
£ £ £ £
Amountsowedbysubsidiaryundertakings - 3,140,092 - 3,140,092

Creditors:Amountsfallingduewi thinoneyear
2022 2021
Group Charity Group Charity
£ £ £ £
Tradecreditors 198,478 113,006 101,691 48,696
Socialsecurityandtaxes 57,306 47,351 60,661 31,819
Othercreditors 28,518 6,390 22,028 471,229
Accrualsanddeferredincome* 477,225 220287 526,403 471,229
Amountsowedtosubsidiaries - 403,432 - 243,625
BusinessInterruptionloan 33,889 33,889 - -
795,416 824,355 710,783 801,373

Brought Added Amount Carried
forward amount released forward
£ £ £ £
Deferredincome 2022 196,358 187,132 (196,358) 187,132
Deferredincome 2021 422,307 196,358 (422,307) 196,358

Creditors:Amountsfallingduea fteroneyear
2022 2021
Group Charity Group Charity
£ £ £ £
BusinessInterruptionloan 152,329 152,329

Balanceat Balanceat
1August 31July
2021 Income Expenditure Transfers 2022
£ £ £ £ £
Capitalfund
BuildingDevelopment 2,850,427 - - - 2,850,427
Hackneysustainablegrant 2,000 2,000
Generationfund
DepartmentforEducation 7,100 (7,195) 95
BBCChildreninNeed 11,053 (12,580) 1,527
ConservatoireforDance&Drama 57,055 (58,164) 1,109
ContemporaryDanceSchool
(London) 62,479 (63,315) 836
JackPetcheyFoundation 2,897 (3,180) 283
Jerwood 19,915 (19,915)
LeverhulmeTrust 48,013 (49,036) 1,023 -
2,852,427 208,512 (213,385) 4,873 2,852,427
Balanceat Balanceat
1August 31July
2020 Income Expenditure Transfers 2021
£ £ £ £ £
Capitalfund
BuildingDevelopment 2,850,427 21,015 - (21,015) 2,850,427
Hackneysustainablegrant 2,000 2,000
Generationfund
CentreforAdvancedTraining 78,865 (78,865) -
SensoryCircus 9,000 (9,000)
ConservatoireforDance&Drama 79,024 (79,024)
JackPetcheyFoundation 500 (500)
Jerwood 15,855 (15,855)
LeverhulmeTrust - 50,987 (50,987) - -
2,852,427 255,246 (234,231) (21,015) 2,852,427

Theatretaxreliefclaim
2022 2021
£ £
Taxcreditinrespectoftheatretaxreliefclaim 22,000 3,508

Analysisofnetassetsbyfund
Total
Unrestricted Restricted funds
funds funds 2022
Group £ £ £
Tangibleassets 469,627 2,850,427 3,320,054
Netcurrentassets 227,713 2,000 229,713
Longtermcreditors (152,329) - (152,329)
545,011 2,852,427 3,397,489
Total
Unrestricted Restricted funds
funds funds 2021
Group £ £ £
Tangibleassets 475,452 2,850,427 3,325,879
Netcurrentassets 179,823 2,000 181,823
655,275 2,852,427 3,507,702
Total
Unrestricted Restricted funds
funds funds 2022
Charity £ £ £
Tangibleassets 202,461 - 202,461
Debtorsgreaterthanoneyear 289,665 2,850,427 3,140,092
Netcurrentassets(liabilities) (27,389) 2,000 (25,389)
Longtermcreditors (152,329) - (152,329)
312,408 2,852,427 3,507,702
Total
Unrestricted Restricted funds
funds funds 2021
Charity £ £ £
Tangibleassets 208,286 208,286
Debtorsgreaterthanoneyear 289,665 2,850,427 3,140,092
Netcurrentassets(liabilities) 136,473 2,000 138,473
634,424 2,852,427 3,486,851