Company number 2479179 Charity number 1010192 The Half Moon Young People's Theatre Llmlted (Llmlted by Guarantee) Report and Flnancial Statemonts for the year ended 31 March 2024 Breckman & Company Ltd Chartered Certlfled Accountants 49 South Molton Street London W1 K 5LH
The Half Moon Young People's Theatre Limited (Llmited by Guarantee) Contents Page Reference and Administrative Detsils Truste8s' Report 2-10 Audltors. Report Statement of Financial Activities (Including Income and Exp8ndlture Account) 15-19 Balance Sheet 20 Cash Flow Statement 21 Notes to the Flnancial Statements 22.33
The Half Moon Young People's Theatre Limited {Limited by Guaranlee) Reference and Admlnlstratlve Details Constltutlon The company is a private company Ilmited by guarantee registered in EW - England & Wales. company number 2479179 and ils governing document is its Memorandum arKI Articles of Assoclation. The company is a registered charity, number 1010192. Dlrectors and trustees The directors of the charitable company nhe charity.) are ils trustees for the purpose of charfty law and throughout this report are colleclively referred lo as the trustees. As sel out in the Articles of Association the trustees are appointed by members of The Half Moon Young People's Theatre Limited at our Annual General Meeting (AGM) or by postal vote. One thlrd of the members of the board of trustees musl stand down at each AGM, and members are eligible for r&election. Pollcies and procedures adopted for the induction and tralning of trustees are ongoing and incorporated indirectly into the regular trustees meetings. The trustees during the year and since the year end. were . Dawn Harrlson-wallace (Chalr) Vipul Bhatti Dr Kat& Domey Asma Jhina Benjamin Jones Constsntina Kleanthous appointed 22 Aprll 2023 Anuradha Laws resigned 15 May 2024 Anita Lewis appointed 21 May 2024 Mark Macey Mary Mccolgan Elaine McLaughlin Sarah Nottingham Roopa Sharma Nulan Velji James Wakefield appointed 18 Oclober 2023 appolnted 16 May 2024 resigned 12 July 2023 appointed 21 May 2024 appointed 21 May 2024 Secretary Jacqueline Eley Chlef executlvelday to day management Chris Elwell Auditors Messrs. Breckman & Company. 49 South Molton Street. London W1K 5LH. Bankers Unity Trust Bank, 9 Brindley Place. Birmingham, West Midlands B12HB. Reglstered office and operation address 43 White Horse Road, London E1 OND.
The Half Moon Young People's Theatre Limited (Limited by Guarantee) Trustees, report The Irustees present their annual report together with the financial statements of the charity for the year ended 31 March 2024 which are also prepared to meet the requirements for a directors 'report and accounts for Companies Act purposes. The financial slatements comply with Charities Act 2011. the Companies Act 2006, the Memorandum and Articles of Association and Accounting and Reporting by Charities: Statement of Recommended Practice applicable lo charities preparing their accounts in accordano wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)- The reference and 8dministr8tive details sel out on page 1 fomis part of this report. Objectlve8 and activities 'Half Moon continues to be a leader in the young people's profession81 theatre sector, working to realise our vision,. to include, to inform. to inspire. Half Moon, a local community-focused venue with a national remit. gives young people from blrth to 18 125 for young people with disabilities) an opportunity to experience the best in young people's theatre. bolh as a participant and as an audience member. The company places an emphasis on engaging participants and artists who feel excluded from arts activity, such as those from ethnically diverse communities, Deaf and disabled people, those who are neurodiverse or affected by mental health conditions, or those excluded due to 50CiO•economic circumstance. Half Moon specialises in new writing and arttorm development. working collaboratively with a wide range of partners. The company's expertise 15 in supporting young people and artists at every stage of their creative development. provifjing gateways lo engagement, offering palhways for progression and experimentation, Ihen disseminating outcomes with Ihe wider sector through performances, touring productions, open dialogue and continuing professional development. Uniquely. there is a synergy belween Half Moon's Creative Leaming and professional theatre programmes, which have equal slatus and are mutually enriching. Artform developmenUProducing'. producing 8nd presentlng the best professional theatre at the company's own venue and In other arts, educalion and community venues nationally, including libraries nurturing and menloring new artists and emerging companies, particularly those under- represented in Ihe young people's theatre sector inspiring established artists and companies lo work in the Iheatre for young audiences sector. Creative Leaming.. providing an extensive education and outreach programme for groups and independent attenders placing Chlldren and young people at the heart of the creative processes to develop professional work giving children and young people representation and a voice in all areas of the organisalion. To raise the standard of work being produced for. with and by young people, Half Moon works in an open mannor. encouraging open debate. Half Moon's programme of activities is based 011 ongoing research into the needs and ambitions of the company's various stakeholders. The company feels confident to adapl and take risks. as the innovative work is piloted and shaped from the company's understanding of the needs of the sector and the communities it serves. The company undertakes routine monitoring and evaluation of all projects, measuring the impact of the work in a variety of ways depending on the abililies of those involved. This indudes input from young people informally, as well as formally through the Youth Forum.
The Half Moon Young People's Theatre Limited (Llmited by Guarantee) Trustees. report 2023124 headline statistics performances at our own theatre and on tour attracted around 15,000 audience members we were a finalist for an Off West End Theatre Award for Best Writerfor Young People wilh our show, Hot Orange by Amal Khalid and Tatenda Matsvai for ages 13+ we delivered around 1.500 creative leaming sessions. with around 26,500 participatory engagements of the young people who participate in weekly activity. 73Yo are from 8thnically div8rse communities. 30% are disabled or have additional needs and 540/0 (420/0 last year) are from households on low incomes or receiving benefits we worked with two thirds of the schools in Tower Hamlels and over half of thése engaged in at least projects we employed 122 freelance artists. facilitalors. access workers and technicians, 540/0 of whom are from ethnically diverse communities our volunteers donated 859 hours of their time to support us on a variety of proj8Cts. In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit- running a charity (P82)'. Achievamants and performance Professlonal Theatre In 2023124 we presented our usual autumn and spring seasons of professional shows for families, children. young people and schools from the best companies creating work for young audiences. We also presented shows in oth8r places in our horne borough of Tower Hamlets, including the Canary Wharf Crossrail Roof Garden and the All Points East Festival in Victoria Park. We also continued to run rheatre Passport, the company's funded ticket scheme for schoolslcommunlly groups which gives Ioc81 people access to quality thealfe. The autumn 2023 production for teenage audlences, Hot Orange was nominated for Off West End Theatre Awards (Offies), Best Wriling and Best Performance and was a finalist in the Best Wriling category. Hot Orang8 garnered great reviews when it opened at Half Moon and then toured to other venues around the country, including Contact Manchester, Garage Nor4vich and Hat Factory Luton. °The title captures the poetic glow of their hourlong two-hander. It conjures, too, the rush of first love, th8 burn of inherited shame and Ihe lively pace of a sensitive play about a friendship that flickers into something else before being extinguished. TOdaS school audiance gat a clos8-up masterclass in acling from Malsvai and Twomey. who share a natural rapport.. a bittersweet gem about the ache to continue a kiss." The Guardian In February 2024, we opened Boxed In. a co-production with disabled-led company, Daryl & Co. for ages 3 - 6. The show is a hearttelt story is about being made to feel naughty, just because the rules don't make sense. It explores Ihe unspoken barriers of attitudes. social etiquette and behaviour that surround us. "This is the b8St show we've seen in a long lime! It was hilarious and touching at the same time. My little boy and I laughed a lot during the performance. Thankyou fora morning well spent and for allowing us lo get a glimpse inlo the world of people who experien the world differently and that we can all learn to live together in harmony if we make an effort to understand each other." Audienc8 member Artform Development The success ol Narratives of Empathy and Resilience. our major artform development programm8 to support under-represented artists in 2021, provided us with range of ideas by some very exciting artists.
The Half Moon Young People's Theatre Limited (Limlted by Guarantee} Trustees, report Hot Orange came out of this programme. During the year we also undertook further research and development work with some of Ihe other artists from this programme to develop their ideas. This includes: Ten in the Bed- for 3 to 8 year olds, by Steve Tasane, an award-winning author of young adult fiction. This show opened at Half Moon on 4 May, 2024 before embarking on a national tour, Tatenda Malsvai - in addilion to co-writing Hot Orange. we are working with this talented early career artist to develop a new show for 2 to 5 year olds, currently entitled 8etti8 Brave and scheduled to tour in spring 2026. One Night of Freedom - this new commission by Jo8 Nerssessian will be our next tour for 13+lteenage audiences in autumn 2025 and focuses on refugee experiences in Europe. Creatlve Learning Our Creative Learning programme is wide-ranging. covering ages 0-18 (or 25 for young disabled adults), with a strong focus in Tower Hamlels. The programme includes sessions in formal education settings as part of curriculum delivery, as well as worf( with children and young people as independent attenders. Our work supports the borough's strategies for children and young people, and enhances our audlence development initiatives. The overarching aim of the Creative Learning programme is lo ensure work is inclusive and accessible to all, offering progression routes for young people to continue exploring their crealivity. Our successful signature projects are highlighted below. with addllional projects dellvered during the year. including- Dramatic Science, a pilot project to teach KS2 science through drama. an Online Safely programme for primary schools in Soulhwark; a free Family Fun Day; a programme for Vlrtual Schools; and a project for Downs Syndrome Day. We also delivered a series of CPD sessions for teachers and other school staff and host termly Drama Forum meetings for drama teachers at our secondary schools. Youth Theatres - We run eight Youth Theatre groups for various age ranges, seven of whlch are fully inclusive, whereby children with needs are provided with appropriate speclalist access support (e.g. for neurodiverse young people and any young people with physical andlor cognitive dlsabllities, sensory impairments and mental health conditions). The final group is foryoung people aged 13-25 with complex and mulliple disabilities or who operate within the autistic spectrum. whose needs are best met In a smaller specialist setting. Across each term and the year as a whole. we noted improved personal outcomes for all of th8 yOLJng people attending. These We seen in temis of Communication Skills (Speaking and Lislening), Emotional Literacy, Posilive Social Engagement and Creative Development. One memb@r of our group for 15-18 year olds. who has been attending since he was in our youngesl group and has completed work experi8nc& and volunteering with us. took a leading role in the spring sharing, which explored creating suspense in drama. His Dad fed back lo us.. "IVS been a pleasur& to see my son's development during all these years. I'm sure that other parents feel the same.. Creative Play - Our early years sessions in Children and Family Cenlres around the borough. use crealive, sensory play to help the parenlslcarers support their participating children'5 emotional and physical development, as well as the development of their crealive expression. The programme also uses language repelition as a fomi of pre-literacy. Sessions are primarily drama 8nd movement based, sometimes drawing on other artforms. including music, puppetry and visual arts. One pargnt said: "Since my son has begun coming to the Half Moon creative play. I have noticed a massive change in his Confiden and his personality in a very positive way. Attending the sessions has made me much more Confident lo be able to meet other parents and also attend more playgroups. the leaders have been amazingl" Next Steps and After School Clubs - We continued to deliver Ihis specialist programme to support Year 6s in their transition from primary to secondary school. Parttcipants benefitted from tsrgeted, weekly sessions in their final half term of primary school, and a week-long Summer School in the summer holiday before they began secondary school. In addition, we also continued with our three- year offer for the participants. providing young people with the opportunity to attend weekly sessions
The Half Moon Young People's Theatre Limited (Limited by Guarantse) Trustees. report after Ihey have transitioned to secondary school. Being able to offer continued long-term intervention to Year 7s, 8s and 9s has become core to the success of this programme. At the start of the programme participants were asked how confident they were feeling about starting secondary school. 25¥0 said they definitely felt confident. By the end of the programm8, 90 % definltely felt confident. Careers In Theatre- This programme is for Year 9, 10 and 11 students who are studying for GCSE Drama or are considering taking GCSE Drama. Participants are providad with new skills and practical knowledge of career options in the Ihaatre industry. through working alongside a team of talented industry professionals. weworked with 195 students from eight schools in Tower Ham18ts and one from Southwark. Feedback from participants included: "I didn't know what to expect today. When I was told I would b8 designin9 a set for a Ple of theatre. I never imagined the process would b& so fun and creative. I have 8 new respect for the amount of thought that g08s into whal we see on stage. Set design is cool," Performance Works- This is an annual project to offer summer holiday activity for young p80ple aged 13 to 25 with complex disabilities. The 12 participants used drama, music, and art to create a piece of theatre, working collaboratively on a performance for family, friends and the wider community on the final day. The projecl was driven by the ideas of the young people from inilial conception to the delivery of a performance, exploring the question: What's in the box? We asked participants what they had achieved during the week. Responses included: Making new friends The acting. I start6d to regulate, and I stayed calm and was able to focus My concenlration was improving, and I was less anxious. and I settled in Hlgher Educatlon During the year we continued with our partnerships with Higher Education Institutes, working With Ouf local universities - Queen Mary University of London and University of East London and London South Bank University and Royal Holloway University. as well as the specialist institutions - Rose Bruford College and Royal Central School of Speech and Drama. Young People's Involvement Our lermly Youth Forum is made up ofyoung people from all eight Youth Thealre groups. whose ages range from 5 to 18 (25 for disabled young people). The Forum is attended by a Trustee who reports back to the full Board. The Forum gives young people a voice in all aspe¢ls of our work, as well as allowlng them to expr8ss what they find positive about attending sessions.. "I'm not really a show person but my Mum wants me to stand up for myself. I was scared lasl time I came here so I was on8 of the directors with the support drama facilitator, but my access work8r helped me and I got a little better. My Mum brightened me up and said I can control my best show ever and she said whalever I do she'll be happy no matter what." Social Impact, Inclusion and the Environmént Half Moon has been embedded in the Tower Hamlets community for over 30 years and has a strong repulation for delivering fully accessible work that meets the priorities of Ihe young people and families we serve. We are baséd in Ihe middle of Tower Hamlets, the borough with the highest levels of child poverty in the UK and high indiS of special educational needs for local young people. Intersacting issues negatively impact our young people. including overcrowding, social daprivalion and domesliG abuse. These factors lead to complax issues for young people which often have significant @ffects on their mental health. Everything we do is inclusive, in terms of engaging young people from a variety of diff8r8nt backgrounds with different needs and abilities. We work wilh key partners in our community - from local schools, nurseries, children and family centres. social worker teams, refuges, Virtual Schools (Looked After Care team), the Tower Hamlets Early Help Hub and other local authority teams and third sector organisations
The Half Moon Young People's Theatre Limited (Limited by Guarantee) Trustees, report to ensure that Ihosg families who will benefit mosl from this aclivity, will be able to aCsS the programme. During the year, we made a successful application to City Bridge Foundation (formerly City 8ridge Trust) for funding to carry out the recommendations of the 2022 Access Audit., namely modernisation of the main passenger lift, installation of a hearing induclion loop, improvements to wayfinding and repairs to uneven floors, sleps and door thresholds. Thi5 work began in April 2024. Half Moon recognises that the company's operations have an impact on th8 6nvironment and is committed to reducing Ihat impact through continuws environmental improvement. We are a founding member of the TEF (Theatre Education Forum) Climate Justice Collective and we work in partnership with Julie's Bicycle (a not for profit thal supports arts organisations to tackle climate ch8nge} to achieve our 'green 'goals. Each year we input all of our data into the Julie's Bicycle Creative Climal8 Tool. In 2023124 we used 2 tonnes less of C02e {carbon dioxide equiva18nt) in 2023124 (20 tonnes) compared to the previous year {22 tonnes). Flnancial review We are a National Portfolio Organisation of Arts Councll England and their funding represented 26Yo of turnover, with our Local Community Fund grant from Tower Harnlets representing a further 40/9. Our trajectory is to continue to achieve relatively high levels of fundraising and 8arned income - 36Qk and 33 % of turnover respectively in 2023124. At the end of the financial year the company is in 8 Stable position, with an appropriate level of Designated Organisational Reserv8 {£70,000), general funds of £3,525 and over £225,000 offundraising income already confirmed for capital works and activity in the new financial year. Restricted funds carried fopNard into Ihe next year are £115,387. The Gompany has good relationships with charitable trustslfoundations of all sizes, many of which reguSarfy provide funding. Half Moon's home borough ofTower Hamlets is very supportive and provides funding as grants, service level agreements and commissioning. We will continue to build on all of these relationships and a very successful strategy which uses income streams as leverage for match funding from each other. Our scheme lo raise funds from the corporate sector for Theatre Passport, Half Moon's funded ticket scheme for local schoollcommunity groups, needs further boost and income generation from individual giving remains Ihe area with the most potenlial for growth. Our programme of activity in 2023124 Vuld not be possible without the support of our many funders: Action for Bow Aldgate & Allhallows Arts Council England The Austin & Hope Pilkington Trust BBC Children in Need Benevity Causes Blackw811 Reach Trust Buzzacott Sluart Defries Memorial Fund Canary Wharf Group Charles S French Charitsble Trusl Chartered Secretaries & Administrators Charterhouse Charitable Trust Charterhouse in Southwark Chesterhill Charitable Trust City Bridge Foundalion Clarion Futures CMS Social Impact Fund The Coln Trust Co-op Local Community Fund DAF Bentley Commurrity Grants Derek Shuttleworth Educational Trust Easl End Community Foundation e85yfundraising The Fitton Trust Galliard Homes Garfield Weston Foundation The Harold Higham Wingale Foundation The Henry Smilh Charity Investec Isle of Dogs Grants Chest Jack Petchey Foundation King Charles111 Foundation The Leche Trust Merchant Taylors, Charity NADFAS - The Arts Society The National Lottery Community Fund Newcomen Collett Foundalion The Noél Coward Foundation Ocean Regeneration Trust Prudential Small Donations Fund Queen Mary University Royal Victoria Hall Foundation
The Half Moon Young People's Theatre Llmlted (Llmited by Guarantee) Truste•s' report Save Th8 Children Schroder Charity Trust The Sheldon Trust Souter Charitable Trust St James's Place Foundation Tesco Community Grants Tower Hamlels Arts & Music Education Service Tower Hamlets Council Tower Hamlets Youlh Service Unity Theatre Trust The Worshipful Company of Coopers We thank these supporters. as well as the many individual donors and funders who wish to remain anonymous and all of our volunteers who generously give their time to support our activities. Reserves Policy The organisalion's reserves policy is to target a sum of money as a Designated R6s8rve. thls will support the company in the case of unexpected changes in funding and to meet unplanned expenditure and capital expenditure. The tsrgeted level of the Designated ReseNe is calculated as £70,000. This is equivalent to thre8 months 'Support Costs,, estimated at £45,000 plus £25,000 available for discretionary expenditure. Trustees review the Reserves Policy annually to lake account of changing circumstances. Risk Management The company pays particular attention to any potential risks to the company. by employing an annual risk review with the Trustees with a rolling risk assessment across different categories.. governance and management. operational, financial, environmentallextemal factors and compliance. The company produces individual Risk Assessments for productions, tours, projects and school visits. The principal risk ofthe company is the loss of thé major core funder, Arts Council England (ACE). The company has the most secure long-lerm funding available from ACE as one of Iheir Nalional Portfolio Organisations. This funding has recenlly been extended by a year until March 2027. The company acknowledges the Importan of maintaining 8xce118nt relationships with ACE and all other fund8rs to mitigate against any loss of funding. The company also has excellent relationships with a number of teams within our local authority, Tower Hamlets. who provide long-tem funding from a range of funding streams. Future Plans Going forward, Half Moon will continu8 to pioneer its approaches to developing work through meaningful interaction and consultation with young people. placing them at the heart of the creative processes. We will lour bwo productions in 2024125.. Ten in the Bed- for ages 310 8 by Steve Tasane. and Soft or Spiky? a co-produclion with Polka Theatre, for 6 to 18 months. We will continue lo work in an entrepreneurial manner wilh a wide range of partners, including artists, companies, venues, educational establishments and other Third Sector organisations. This commitment to partnership working and collaboration are vital to Ihe continued success of Ihe company. both artistically and financially. As part of our ambitions to make the most of our archive, in 2023124 we deposited 77 play scripts at The British Library, as well as sharing those appropriate scripts with the Black P5ays Archive managed by the National Thealre. We are now working towards consolidating and securing the company's archiva, both physical and digital. dating back to the formalion of the first iteration of Half Moon Theatre In 1972. During the year ahead. our archive will be transferred to the local Qu6en Mary University of London. The small physical archive from the 1970s and 1980s presently held by Royal Holloway University, will also be transferred to them. This will start th8 process of making our full hislory more accessible in the years ahead for research purposes.
The Half Moon Young People's Theatre Limited (Limil8d by Guarantee) Trustees, report Our Creative Learning programme will continue to have a strong focus in Tower Hamlets. with sessions in formal education settings as part of curriculum delivery, as well as work with children and young people as independent attenders. Our work will continue to support the borough's strategies for children and young people and enhance our audience (Jevelopment initiatives. Half Moon closed to the public for five weeks at Ihe beginning of 2024125 to facililale replacement of tha main passenger lift covering all 3 floors, as it is over 30 years old. At the same time a hearing induction loop was fitted in the th&atre, alongside other small capilal works to improve accessibility of the fire escape areas. Following these works, we will film a 360° virtual tour of the building which wi15 be available to help young people with autistic spectrum disorder prepare for their visit to the theatre. Conclusion This is the final year, after six years as Chair, that I have the pleasure of signing off Half Moon's Annual Report and I can Confidently state that I remain as impressed now, as I was when, as a new Trust88.1 read my first Half Moon Report Annual Report in 2012 - perhaps Éven mor8 SO. The resilience the company has shown, even within the difficult landscape of the past four years, Is no mean feat and clearly demonstrates that Half Moon not only has the ability to survive, but lo thrive and faces challenges thrown at it with drive and detemiination. This is very clear avidence that Half Moon's impact within its community, and for those underrepresented artists we seek to nurture. has nol waned ellher. For me, the conlinuing development of the artists who participated in our Narratives of Empathy & Resilience programme - initially crealed to support underrepresented artists through Ihe pandemiG - is one clear illustration of this. The words of Ihose who experience Half Moon as audiences and young participants only highlights this impact further: .1 r9ally appreciato the incluslvity of the pmgramrning, the shows and the venue. 11 feels genuine 8nd integrated. Everything l tre seen Ihere has dealt with important issues but also been joyful and very well executed.. 'It's a tmly amazing place wheTr Ghildren, theirneeds, views. catlIYand legming through experience, are at the v6ry heart of every¢hing and accessible to all too., 'A brilliantly famlly-friendly theatre, offering shows for a r8nge of ages and tastes. An important E8St London institutionl" The harsh reality is however, that whilst Half Moon is very successful artislically and is currently financially stable, we need to remain mindful that many factors, including the cost-of-living crisis, the financial situation of local authorities, plus cuts lo the arts and education sectors, combine to crèate potentially more precarious environment going forward. The sheer number of funders who supported us in 2023124 is an indicalor of how hard the team has to work to raise funds to deliver our essential work and we only envisage this getting lougher in the near future. But we remain hopeful that funders old and new will continue lo recognise the impottance and relevance of this beacon of light in Limehouse. In closing off, for one last lime, I would like to thank the core staff team and Ihe many freelanr5 who work for us. The dedication and hard work demonstrated by all, under the thoughtful and unwavering leadership of Direclor. Chris Elwell and Administralive Director. Jackie Eley is exemplary. I would also like to Ihank our collaborators and partners from many organisations ar¢d the individuals from within Ihe arts, education and community sectors. all of whom make such strong contributions to our work and success. And of course to my fellow Trustees, in particular those slanding down this year, l extend untold thanks and gratitude.
The Half Moon Young People's Theatre Limlted (Limited by Guarantee) Trustees. report Finally, to our many funders, without whom we could not achieve our charitable aims and ambitions. in particular Arts Council England and Tower Hamlets. I would like to thank you for ongoing support. for recognising the importance of the work we deliver and ensuring we can continue to meet the needs of both Ihose within our local community and nationally. Dawn Harrison-wallace Chair Auditors A resolution proposing the re-appointrnent of Breckman & Company as auditor will be submitted at the Annual General Meeting. Investments The charity has no investments. Assets The movement in fixed assets is shown in Note 10 to the accounts. Going Concem The directors are of the opinion that a going concern basis is appropriate for the prep8r8tion of these accounts. The dir8ctors ar8 confidenl Ihal the company will b8 able to continue operating for at least the 12 months from the date of this report. Organisatlon and Constitution The company was incorporated on 9th March 1990 and is governed by its Memorandum and Articles of Associalion. The charltable objects of Ihe Charity a. For the promotion, maintenance, improvement and advanment of education particularly by Ihe production of educational plays and drama workshops, the provision of training and the encouragement of the arts including Ihe arts of drama, ball8t, music, singing. literature, sculpture and painting. A Board of Trustees. who meet quarterly, administers the charity. The Trustees delegate the day to day management of the charity lo the Chief Execulive, Chris Elwell and the Adminislralive Director, Jackie Eley. The existing irustees are entitled to appoint further trustees in accordance with thè Memorandum and Artides of Association. Trustee inductlon and tralning Potential new trustees observe a Council of Management meeting before being formally appointed. They are sent an induction pack including a list of18gal obligalions, the Memorandum and Articles of Association, the details of cornmittees and decision making processes, Ihe business plan, policies and procedures. stsff structure and recent management accounts and budgets. Trustees participate in an annual Retreat day involving the staff as well as other meetings and events outside of the formal quarterly meetings. They are also offered training and development opportunilies as appropriat8 to their needs and interests. Remuneration No remuneration is paid to Trustees and the remuneration for other key management personnel is decided on by the Council of Management based on benchmarking against other similar organi5ations in Ihe sector to ensure that rales paid remain competitive. The company is limited by guarantee and has no share capital. The guarantees of individual m8mbers are limited to £1.
The Half Moon Young People's Theatre Limited (Limlted by Guarantee) Trustees, report Trustees, responsibilities The trustees (who are also directors of The Half Moon Young People's Theatre Limited) for the purposes of company law) are responsible for preparing the Trustees 'Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepied Accounting Practi). Company law requires the Irustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs ofthe charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial slatements, the truslees are required to: select suitable accounting policies and Ihen apply them consistently- observe the methods and principles in the Charilies SORP 2019 IFRS 102); make judgements and estimates that are reasonable and prudent., stale whether applicable UK Accounting Standards have been followed, subject to any material departuras disclosed and explained in Ihe financial statements: prepare the financial statements on the going concern basls unless it is Inappropriate to presume that the charitable company wi51 conlinue in operation. The truslees are responsible for keeping adequate 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 thg Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and olher irregularities. In so far as the trustee5 are aware.. there is no relevanl audit informatlon of which Ihe charitable company'5 auditor is unaware; and the trustees have taken all Steps that they ought to have taken lo make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. The trustees are responsible for the m8intenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in Ihe Uniled Kingdom governing the preparation and disseminatlon of financial ststements may differ from legislation in other jurisdictions. Small company exemptions This report is prepared in accordance with the provisions of the Companies Acl 2006 relating to small companies. This report was approved by the Board of Trustees on 17 July 2024 and signed on its behalf by Dawn Harrison-wallace (Chair) Trustee 10
Independent Auditors. Report to the Members of The Half Moon Young People's Theatre Limited Opinion We have audited the financial statements of The Half Moon Young People's Theatre Limited (the 'charitable company,) for the year ended 31 March 2024 which comprise Ihe Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes lo the financial statements. including a summary of significant accounting policies. The financial reporting framework thal has been applied in their preparation is appllcable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Stsndard appllcable in the UK and Republic of Ireland (Uniled Kingdom Generally Accepted Accounting Practice). In our oplnion the flnancial statements: glve a true and fair view of the state of the charitable company's affairs as at 31 March 2024, and of Its incomlng resources and applicalion of reSoUrs, including tts income and expendllure. for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accountlng Practlce; and have been prepared in accordance With the requirements of the Companies Act 2006. Basis for opinlon We conducted our audit In accordance with International Stsndards on Audlting (UK) (ISAs (UKI) and applicable law. Our responsibllili8s under those stsndards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK. including tha FRC'S Elhical Standard, and we have fulfllled our other ethical responsibilities in accordance wlth these requirements. We believe that the audit evidence we have obtalned is sufflclent and approprlate to provlde a basls for our opinion. Concluslons relatlng to golng concern In auditing the financial statements. we have concluded that the truslees. use of the going concern basis of accounting in the preparation of th8 financial statements is approprlate. Based on the work w8 have performed, we have not identlfied any material uncertainties relating to events or conditions that, individually or collectlvely. may cast significant doubt on the charilable company's ablllty to eonlinue as a going concern for a period of at least Ie1ve months from when the financial statements are authorised for Issue. Our responsibilities and the responsibilities of the trustees with respect to golng concern are described in the relevant sections of thls report. Other Informatlon The other information comprises the infomiation included in the trustees annual report, other than the financial statements and our audilor's report thereon. The trustees are responsible for the other information contalned within the annual report. Our opinion on the financial statements does not cover the other Information and, except to the extent OtheIS0 explicilly stated in our report, we do nol express any form of assurance conclusion Ihereon. Our responsibility is to read the other information and. in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwis8 appears to be materially misstated. If we identity such material inconsistencies or apparent material misstatements. we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If. based on the work we have performed. we conclude that th8re is a materi81 misstatement of this other information, we are required to report that fact. We have nothing to report in Ihis regard.
Independent Auditors. Report to the Members of The Half Moon Young People's Theatre Llmited Oplnlons on other matters prescribed by the Companles Act 2006 In our opinlon, based on the work undertaken in the course of the audit: the information given in the truslees, report (Incorporatlng the director5. report) for the financial year for which the financial statements are prepared is consistent with Ihe financial statements. and - the directors, report has been prepared in accordance with appllcable legal requirements. Matters on which we are required to report by exceptlon In the light of our knowledge and underslanding of the charitable company and its environment obtained In the course of the audit, we have not identifled material misstatements in the directors, report. We have nothing to report in respect of the following matters in relation to which the Comp8nies Act 2006 requires us to report to you if. in our opinion: adequat8 accounting records have not been kept, or returns adequate for our audlt have not been recelved from branches not visited by us. or - the financial statements are not In agreement wilh the accounting records and returns: or Certain disclosures of directors. remuneration speclfied by law 8re not made., or we have not received all th8 informatlon and explanatEons we require for our audit., or the trustees were not entitled to prepare Ihe financial statements in accordance with the small companies, regime and take advantage of the small companies, exemptions in preparlng the dlrectors. report and from the requirement to prepare a strategic report. Responslbllltles of trustees As explained more fully in the trustees. responsibllities statement set out on page 9, the trustees (who are also Ihe dlrectors of the charilable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair vlew, and for such internal control as the Irustees determine is necessary to enable the preparation of financial statements Ihat are free from material misstatement, whether due to fraud or error. In preparing the financial statements. the trustees are responsible for assesslng the charitable company's abillly to conlinue as a going concern, disclosing, as applicable. matters relaled to going concern and using the golng concern basls of awounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Audltor's responslbllltles for the audlt of the flnanclal statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from materi81 missiatement, whether due lo fraud or error, and to issue an auditorfs report that Includes our opinion. Reasonable assurance is a high level of assuran¢e, but is nol a guarantee that an audit conducled in accordance with ISA5 (UK) will always detect a material misstatement when It exists. Misstatements can arlse from fraud or error and are considered material if, individually or In the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial stalements. 12
Independent Auditors, Report to the Members of The Half Moon Young People's Theatre Llmited Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in raspect of irregularilies. including fraud. The extent to which our procedures are capable of detecting irregularities. including fraud is detailed below: Our assessment focussed on key laws and regulatlons the charitable company has to comply with and areas of Ihe financial statements we assessed as being more susceptible lo misstalement. These k8y laws and regulations included bul were not limited to compliance with Ihe Companies Act 2006, Charlties Act 2011, taxatlon legislation, data protection and employment legislation. We are not responsible for preventing Irregularities. Our approach to detectin9 irregularities included, but was not Ilmited to, the following: obtaining an understanding of the legal and regulatory framework applicable to tha charitsble company and how the charitable company Is complying with that framework. including agreement of financial statement disclosures to underlylng documentation and other evidence; obtaining an understanding of the charitable company's control environment and how the charitable company has applied relevant control procedures. Ihrough discussions with Trustees and other management and by performing walkthrough testing over key areas., obtaining an understanding of the charitable company's rlsk assessment process, including the risk of fraud; reviewing meeting mlnutes of those charged with govemance throughout the year. and performing audit testlng to address the risk of management overrlde of controls, including t6Sting journal entrles and other adjustments for appropriateness, evalualing the buslness rationale of significant transactions outside the nonnal course of business and reviewlng accountlng estlmates for blas. Whilst considering how our audlt work addressed the detection of Irregularilies. we also considared the likolihood of detection based on our approach. Irregularities arising from fraud are inherently more difficult to dolect than Ihose arlsing from error. Because of the Inherent limitations of an audlt, there is a risk that we will nol detecl all Irregulafltles, Including those leading to a material misstatement in tha financial statements or non-compliance with regulation. Thls risk increases Ihe mor& that compliance with a law or regulatlon is removed from the events and transaclions reftected in the financial statements, as we wlll be less likely to becom6 aware of instances of non-compliance. The risk is also greater regarding irgU1a[itles occurring due to fraud rather than error, as fraud involves Intentlonal concealment. forgery, colluslon. omission or misrepresentatlon. A further description of our responsibilities for the audlt of the financial statements is located on the Financlal Reporting Council's website at.. v•WW.frc.org.uklauditorsresponsibilities. This description forms part of our auditor's report. 13
Independent Audltors. Report to the Members of The Half Moon Young People's Theatre Llmlted Use of our report This report Is made solely to the charitable company's members. as a body, In accordance with Chapler 3 of Part 16 of the CompanSes Acl 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable companys members as a body. for our audit work, for this report, or for the opinions we have formed. Mr Graham Berry FCCA (Senlor Statutory Audltor) For and on behalf of Breckman & Company Ltd Statutory Auditor Chartered Certified Accountants 49 South Molton Street London W1 K 5LH 17 July 2024 14
Th• Hawmoon Yo¢mg P•opl•'$ Th••trt Llmiiod ILlmit•d by Guaranta•l 8tat•m•nt ol Flnandal ActIvI•S Iln¢ludlMo Incomè and Expendlture Accountl for th• y••r end•d 31 Mwch 2024 Unr8stfiCtod R•strictsd funds lunds 2024 Tot UNestrlctsd funds R¢$¢ri¢ted fund$ 2023 Ttyt•l Not•$ In¢om• artd endowm•ntB Irom: Donallons ond l&g8cie$- page 18 ¢hadlable gcllvllies.. ProdudlonlCr881ive L&amir¥J- p•ge 16- 17 Invoslments Olhgr 287.(1 287.&)1 296.717 2,777 274.020 2,566 20,866 246,W7 520.927 2,566 20,866 340.619 2.459 12,804 189,079 529,698 2,469 12,804 Totsl 584,4S3 248,907 831.360 652,599 189.079 841,678 Expendltur• on: Chhritoblè adivhles.. Produdlonlcroallvo L8aNlng- pag• 18 ¢Jher 626,834 1.730 822.564 364 708,974 6,300 174.287 83.Z61 6,300 7otl 627.198 195.730 822.928 71S,274 174,287 869.561 Ng1 In¢om¢ I lexpgndllur•l Tr8nsfers between funds {42,7451 23.060 51.177 I23.0) 28.117 432 162.6751 56.201 14.792 156,2011 141,4Q91 147,8831 15, 16 Not mtsvom¥nl In funds.. Reconclllition ol fund8: Total lunds brought foNard 119.6861 8,432 16.4741 147,8831 443.210 87.270 530,480 449,684 128.679 578,363 Total lund• ¢arrl¢d forwJrd 15.1¢ 423. 115.387 538,912 443.210 87.210 530.480 The no1¢8 on pages 22 10 32 form 8n ini¢grèl psrt olthese fThrti81 gt8t?rnents. The $l•lernenl of finanaal activ45 Includes al galns and108¥es Rwgru5Ed in Ihe ye8f. All Inc¥)ff Ind expenthturtr d¢ths from cont11th9 15
The Half Moon Young People's Theatre Limited (Llmited by Guarantee) Year ended 31 March 2024 2024 2023 Income from donatlons and legacles Grants Art5 Council England ACE- NPO 221,452 221,452 Chesterhill Charltable Trust Garfield Weslon Foundation London Borough of Tower Hamlets 1.000 25.000 32,709 25,000 38,213 58.709 63,213 280,161 284,665 Donatlons other 6,840 12,052 287,001 296.717 Income from charltable activitles Productlonlcreatlve Learnlng Income In-house productions Box office Youth Theatre fees Careers in Theatre fees Co-production fees Exchange for Change Half Moon Presents Digltal tourlng l on-demand Creative Learning additional projects L8TH - Education SLA LBTH - Youth services SLA Equipment I space hire Olher income 8,608 41,224 18,630 2,570 45,032 1,250 12.612 485 56,962 5,000 70,000 8.592 3,055 25,735 33,575 19,640 2,836 27,010 10,984 36,848 245 57,727 5,000 70,000 9.096 41.923 274,020 340.819 Projed 5peclflc fundlng GrantslDonatlons Aclion for Bow Acces5 Media CIC Aldgale & Allhallows Foundation Austin & Hope Pilkington Trust 16,335 12,322 3.111 14,760 1,000 16
The Half Moon Young People's Theatre Llmited (Llmlted by Guarantee) Backstage Trust BBC Children in Need Blackwall Reach Trust Buzzacott Chartered Secretaries and Administrators Charterhousa in Southwark City Bridge Trust Clarion Community Grant Award CMS Co-operative Local Charity The Coln Trust DAF Bentley Derek Shuttleworth Educatlonal Trust East End CommunSty Foundallon Fitton Trust Garrick Charitable Trust Harold Hyam Wingate Henry Smlth Charity Jack Petchey Foundation Leche Trust Merchanl Taylors Charlty NADFAS Newcomen Collett Foundation Noel Coward Foundation National Lottery Community Fund Norton Rose Fulbright Ocean Regeneration Trust Prudential PIC Small Donations Fund Queen Mary University of London Royal Victoria Ha51 Foundallon Save The Childn Sheldon Trust St Olave's ar¢d St Saviours Foundation St James Place Charltable Foundatlon Schroder Charitable Trust Souter Charitable Trust Tesco Community Fund Theatr8 Passport grants Tower Hamlets Hollday Hunger Tower Hamlels Eco Grant Unity Theatre 10.000 2,436 3,567 10.245 1,250 1,000 1,500 2,302 5,000 77,668 5.000 2,000 2,421 4,000 51X) 3,OlJ) 3,000 6.570 300 2,500 5,000 35,933 16,942 1,500 7,040 41.827 1.896 3,000 1,000 2,000 35,387 1,800 3,071 1,500 6,000 3,300 2,000 9,210 10,000 700 10,000 5,000 3,000 10,000 3,000 2.500 6,103 3,930 3,563 6,997 1,000 246.907 189.079 17
The Half Moon Young People's Theatre Limlted (Limited by Guarantee) Year ended 31 March 2024 2024 2023 Expendlture on charitable actlvltles Productionlcreative Learning costs Salaries In-house productlon Co-production Exchang8 for Change Venue programrnlng Cr88tive Learning programme Youth Theatre 372,705 37,208 40,328 20,321 40,726 138.901 64,211 346,398 55,017 24,663 40,416 36.959 155.528 53,221 714,400 712,202 Support costs - page 19 Governance costs- page 19 100.164 8,000 163.559 7,500 822.564 883,261 18
The Half Moon Young People's Theatre Llmlted (Llmlted by Guarantee) Year ended 31 March 2024 2024 2023 Support and governance costs Offlce overheads Lighuheat Water Telephonelfax Insurance Building maintenance Equipment costs I maintenance Website development I malntenance Cleanlng Depreclation 13.727 800 2,370 9.281 21.197 14,960 3,134 2.677 23.060 21,967 345 2,731 9,448 9,098 22,517 3,026 2,237 59.811 91,206 131.180 Admlnlstratlon costs Fees Staff training Traveutransport EntertalnSng Printinglpostagelstationery Marketing l audience development Subscriptionslllcences Access 18oard development Sundrie$ 2,138 1.377 7.228 733 1.108 4,6 7,181 1,675 9,240 916 972 3,841 2,785 370 1,739 706 1,869 22,509 28,719 Professlonallflnanclal Bank charge5 Box office fees 2,030 1,496 2,217 1,443 3,526 3,660 Surplus on disposal of tangible fixed assels (17,077) 100,164 163,559 Governance Costs Accountancylconsultancy Audit 500 7,500 7,500 8,000 7.51)0 108,164 171,059 19
The Half Moon Young People's Theatre Limited (Limited by Guarantee) Balance Sheet 31 March 2024 2024 2023 Notes Fixed assets Tangible assets 10 376,096 399,156 Current assets Debtors Cash al bank and in hand 11 135.293 99,309 43,818 260,112 234,602 303,930 Llablltlos Credltors.. amounts falling due within one year 12 (71,786) {172.606) Net current assets 162,816 131,324 Total assets less current Ilabllltles 538,912 530,480 The funds of the Charity Unrestricted funds General fund Deslgnated funds 15 3,525 420.000 112,089 331,121 423,525 443.210 Restricted funds 16 115,387 87,270 Total charlty funds 538,912 530,480 These accounts are prepared in accordance with the speclal provlslons of Part 15 of Ihe Companies Act relating lo small ¢ompanles and constitute the annual accounts required by the Companies Act 21)06 and are for clrGulation to members of the company. unts were approved by the Board of Trustees on 17 July 2024 and signed on its behalf by The acc Dawn Harrlson-wallace (Chalr) Trustee The notes on pages 22 to 33 fomi an integral part of these financial statements. 20
The Half Moon Young People's Theatre Llmlted (Llmlted by Guarantee) Cash Flow Statemeht for the year ended 31 March 2024 2024 2023 Notes Cash flows from operatlng actlvllles 22 (74,490) (10,601) Cash flows from investing actlvities: Divldends, interest and rents from investments 2.566 2,459 Net cash provided by Investment actlvltles 2.566 2.459 Repayments of borrowing (88,879) (15,183) Net cash provlded by flnanclng actSvlties (88,879) (15,183) Change In cash al bank and in hand in Ihe reporting period Cash at bank and in hand at the beginning of the reporting period (160,803) (23.3251 260,112 283,437 Cash at bank and In hand al the end of the reportlng period 99,309 260,112 21
The Half Moon Young People's Theatre Llmlted (Limlted by Guarantee) Notes to the Financlal Statements for the year ended 31 March 2024 Accounting policles 1.1. Basls of preparln9 the flnanclal statements The financial stalements have been prepared In accordance wlth Accounting and Reporting by Charlties.. Stat8menl of Recommended Practice (Issued in October 2019) applicable to charities preparing their accounts in accordance with Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January 2019) - (Charltles SORP (FRS 102)), and the Companies Act 2006. The charity meets the definition of a public benefit enlily under FRS 102. Assets and Ilabilities are initially reGognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). 1.2. Debtors Trade and other debtors are recognised at the settlement amount due after any irade dlscount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due. 1.3. Cash at bank and In hand Cash at bank and in hand Includes cash and short term hiqhly Ilquid investments wlth a 8hort maturlty of three months or less from Ihe date of acquisition or openlng of the deposlt or similar account. 1.4. Credltors and provislons Creditors and provisions are recognised where the charfty has a presenl obligatlon resulting from a past event that wlll probably result In the transfer of funds lo a third paty and the amount due to settle the obllgation can be measured or estimated reliably. Credllors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 22
The Half Moon Young People's Theatre Llmlted (Limitod by Guarantee) Notes to the Flnanclal Statements for the year ended 31 March 2024 1.5. Incomlng resources All incoming resources are included in the Stat8ment of Financial Activities when: the charity is legally entitled to the funds - any performanc8 conditions attached to the income have been met or are fully within the control of the charity there is sufficient certainty that receipt of the income is considered probable the amount can be reliably measured Donatlons and legacles Grantsldonations are recognised in incoming r6sourc8s in thg year in which they are recelvable, except as follows= when donors specify that grantsldonations given to the charity must be used in future accounting periods, the income is deferred until those periods when donors Impose conditions which have to be fulfilled before the charity becomes entilled to use such income. the income is deferred and not included in incoming r8sources until the preconditions for use are met. Charitable activities Production I Crealive Learning incorne - income from box office, performance fees and sundry other thealrical Income is included in incoming resources in Ihe period in which the relevant show takes place. Project specific funding when donors specify that donations and grants are for particular restrlcted purposes. which do not amount to pre-conditions regarding entitlement, th15 income Is included in IncDming resources of restricted funds when re1Vable. Donated services and facillties Donated services or facllities are recognised as income when the charity has control over the item, any conditions assoclated with the donated item have been met. the receipt of economlc benefit from the use by the charlty of the Item is probable and Ihat economlc benefit can be measured reliably. On receipt, donated $8rvices and facilities are r8cognised on the basis of the value of Ihe gift to the charity which is the amount the charity would have been willing to pay to oblain saNices or facilities of equivalent economlc benefi't on the open market; a corresponding amount Is then recognised in expenditure in the period of receipt. Investment income Interest on funds held on deposit is included when receivable and the amount can be measured rellably by the charity; this is normally upon notification of Ihe interest paid or payable by the Bank. 23
The Half Moon Young People's Theatre Limlled (Limlted by Guarantee) Notes to the Financial Statements for the year 8nded 31 March 2024 1.6. Expendlture All expenditure is included on an accruals basis indusive of any VAT which cannot be recovered and is recognised when.. there is a legal or constructive obligation to make a payment it is probable that settlement wlll be requlred the amount of the obligation can be measured reliably Charltable actlvlties Production I Creative Learnlng costs programmes in the year, costs incurred in theatre production and particpatory - Support costs The administrative and overhead costs assoclated with running the office from whlch the company Operates as well as governance costs. Support ¢05ts are wholly attributable to theatre production costs. - Governance costs Costs assoclated with the constitutional and statutory requirements of the charity, 1.7, Tanglble fixed assets and depreclatlon Individual fixed assets costing £2,500 or more are capitalised al cosl. Depreciation is provlded at annual rates calculated to wrlte off the cost less resldual value of each asset over Its expected useful life, as follows: Freehold landlbulldings The company's pollcy is to maintaln Its property to a high standard through a continual programme of refurbishment and maintenance. In accordance with this practice depreclation is not provlded on freehold properlies where, in the opinlon of the directors, the residual values {in terms of origlnal cost) are such that any depreciation charge would be immaterial. Expenditure on refurbishment and maintenance is written off in the period it Is expended. Freehold improvements Office equipment Fixtureslflttingslequipment Motor vehlcles 20Yo Straight line 33% straight line 25.fi straighl line 25% straighl line 1.8. Penslons The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised as expenditure when due. 24
The Half Moon Young People's Theatre Llmlted (Limiled by Guarantee) Notes to the Financial Statements for the year ended 31 March 2024 1.9. Fund accounting Funds held by the charity are either.. Unrestricted general funds - these are funds which can be used in accordance with th8 charitable oblects at the discretion of the trustees. Designated funds - these are unrestricted funds of the charity which the trustees have decided at theif discretion to set aside to use for a speclfic purpose. Restricted funds - these are funds that can only be used for particular restricted purposes within the objects of the Charity. Restrictions arise when specified by the donor or when funds ar& raised for particular restricted purposes. Further 8xplanation of the nature and purpose of each fund is included in the notes to the financial statements. 1.10, Flnanclal Instrument8 The charity only has financial assets and financial Ilabilities of a klnd that qualify as basic financlal Instruments. Baslc flnancial instruments are initially recognised at transacllon value, and subsequently measured al their settlement value (with the 8xceplion of bank loans which are subsequently measured at amortised cost using the effective interest method). 1.11. Signiflcant Accountlng Estimates and Judgements In determining the carrying amounts of certain assets and Ilabililies, the charity makes assumptions of the effects of unrtain future events on those assets and liabilities at the balance sheet date. The harity's estimates and assumptions are based on historlcal experience and expeclatlon of future events and are reviewed annually. Incoming resources The total Incomlng resources for the year have been derived from the principal activity undertaken wholly in the UK. Other Income (TTR) 2024 2023 Theatre Tax Relief (TTR) 20,866 12,804 Interest payable 2024 2023 0n108nslov8rdrafts 364 6,300 25
The Half Moon Young People's Theatre Limlted {Limited by Guarantee) Notes to the Financial Statements for the year ended 31 March 2024 Net Incomellexpendlture) for the year is stated after charging: 2024 2023 Depreciation of tangible fixed assets Bank interest payable 23.060 364 59,811 6,300 Auditors, remuneration exlernal audil other services 7,500 500 7.500 and after credlling: Profit on disposal of langible fixed assets 17,077 Trustees, emoluments and relmbursed expenses The Irustees received no remuneration during the year (2023 - £nil). The aggregated amount reimbursed to trustees durlng the year was £nil (2023 - £nil). Staff costs and numbers 2024 2023 Staff costs Salaries and wages Social security costs Penslon costs 335,397 29,850 7,458 310,193 28.532 7,673 372,705 346,398 Two employees earned £60,000 or mor8 during the year (2023 - one). The key management personnel of Ihe Gharty Gomprise Ihe Trustees and the Senior Management Team. The total employee benefits of the key management personnel of the charity were £130.432 (2023: £123,357). Staff numbers The average numbers of employees (Includlng casual and part Ilme staff) during the year was made up as follows.. 2024 Number 2023 Number Productionlcreative Learning 10 10 26
The Half Moon Young People's Theatre Limited (Llmlted by Guarantee) Notes to the Flnancial Statemenls for the year ended 31 March 2024 Penslon costs The company operates a defined contrlbution pension scheme in respect of its employees. The scheme and its assets are held by indépendent managers. The pension charge represents contributions due from the company and amounted to £7.458 (2023 - £7.673). Corporatlon taxatlon The charity is exempt from tax on income and galns falling within section 505 of the Taxes Acl 1988 or section 252 of the Taxation of Chargeable Gains AGt 1992 to th8 exlent that these are applied to its charitable objects. 10. Fixed assets - tanglble assets Freehold landl bulldlngs Fixturesl flttlngsl equipment Motor vehlcles Total Cost 1 April 2023 Disposals 432.853 25,956 14,440 {14.440} 473,249 {14,440) 31 Msrch 2024 432,853 25,956 458,809 Depreclatlon 1 April 2023 On disposals Charge for year 49.712 9,941 14,440 (14,440) 74,093 (14,440) 23,060 16.571 6.489 31 March 2024 66.283 16,430 82,713 Net book values 31 March 2024 366,570 9,526 376,096 31 March 2023 383,141 16.015 399.156 As part of the purchase contract with Tower Hamlets, if the freehold property is sold within 10 years of purchase, 100¥0 of the surplus on sale, less any investment made in the property, is payable to Tower Hamlets. Thereafter for 70 years 500/0 of the surplus is payable. The Freehold was purchased on 16 February 2008. 27
The Half Moon Young People's Theatre Limited (Llmlted by Guarantee) Notes to the Flnancial Statements for the year ended 31 March 2024 11. Debtors 2024 2023 Trade debtors Other debtors Prepaymentslaccrued incom8 68,814 17,077 49,402 10,354 33.464 135,293 43,818 12. Creditors: amounts falllng due wlthln one year 2024 2023 Bank loan other taxatlonlsocial security other credltors Accruals Deferred incorne {nole 13) 88.879 17,755 8,652 16,015 41,305 17,867 424 8,000 45.495 71,786 172,606 13. Deferred income Balance at 1 Aprll 2023 41,305 Amount released to incomlng resources Amount deferred in Ihe year (41,305) 45,495 Balance at 31 March 2024 45,495 Deferred income relates to grant. fee and box office income recelved in advance. 14. Limlted by guaranteo The prlvate limited company is limited by guarantee, registered In EW - England and Wales, and does not have a share capital. Each member glves a guarantee to conlribute a sum. not eXedIng £1, to the company should it be wound up. At 31 March 2024 there were 9 members. 28
The Half Moon Young People's Theatre Llmlted (Llmlted by Guarantee) Notes to the Financial Ststements for the year ended 31 March 2024 15. Unrestricted funds Brought forward Incomlng resources Outgoing resources Transfers Carrled forward General fund Designated funds: Capital fund Operational reserve 112.089 584,453 {627.198) (65,819) 3,525 261,121 70,000 88.879 350,000 70,000 443,210 584,453 (627,198) 23,060 423,525 Capltal fund Thls has been set aside as an equilisation of the value of the freehold propety. Operatlonal reserve Monies set aside to support the company in the case of unexpected changes In fundlng and to meet unplanned exp6nditure and capilal expenditur8. 29
The Half Moon Young People's Theatre Limlted (Limlted by Guarantee) Notes to the Financlal Statemenls for the year ended 31 March 2024 16. Restrlcted funds Brought forward Incoming resources Outgolng resources Transfers Carrled for4vard Flxed asset5 Youth Theatre Artislic Programme Speech Bubbles Careers in Theatre HAF ASCS Creative Play Summer School Trainees Other 57,435 77.668 56,508 2,000 3,500 10,000 3.563 72,465 6,810 (23,060) 112,043 (56,508) (2,000) (3,500) (10,000> (3.563) (72,465> (6,810) (7,040) (8,323) (25,521) 7,040 7.327 15,468 13,397 3.344 87,270 246,907 {195.730) (23.060) 115,387 Flxed assets This fund represents the amount reGelved from Arts Council England capltal grant plus other capltal grants specifically for the purchase of fixed assets. The funds are transferred to the general fund over the expected useful Ilfe of the assets. The balance at 31 March 2024 is attrlbutable to- Freehold land and buildings Flxlureslfittingslequipment Future capltal expendlture 16,570 9,526 85,947 112,043 Youth Theatre Grants towards the costs of the youth theatre programme. Artlstlc Programme Grants towards the cosls of supporting artists andlor professional productions. Speech Bubbles Grants towards the costs of the programme to support chlldren with speech, language and communication issues. Careers In Theatre Grants towards the programme to give teenagers hands-on experlence of the careers available in the 30
The Half Moon Young People's Theatre Llmlled (Limited by Guarantee) Notes to the Flnanclal Statements for the year ended 31 March 2024 HAF Grant to provide sumrner holiday activities. including free hot meals. ASCS Grants towards Ihe costs of the after-school drama group programme. Creatlve Play Grants towards the programme for pre-school children. Summer School Grants towards the summer school for young people with complex disabillties. Tralnees Grants towards the programme to support recent school leavers to move on to further training or employment in the arts. Bursarles Funding towards paid intemshlps or schem8s such as Kickstsrt. Other Grants towards the delivery of specific small-scale projects. Restrlcted funds note for the year ended 31 March 2023.. Brought forward Incomlng resources Outgolng resources Transfers Carried forward Fixed assets Youth Theatre Artistic Programm8 Speech Bubbles Careers in Theatre ASCS Creative Play Summer School Trainees Bursaries Other 113,636 (56.201) 57,435 23,050 5,000 3,833 5,000 55,617 24,456 7,040 12.500 18.613 33.970 (23,050) {5,000) (3,833) (6,629) {55,617) (28,699) {7.040) {5,173) (18.613) (20,633) 1,629 4.243 7.040 7.040 7.327 2.131 15.468 128.679 189.079 (174,287) {56,201) 87,270 31
The Half Moon Young People's Theatre Llmited (Llmited by Guarantee) Notes to the Flnancial Statements for the year ended 31 March 2024 17. Analysls of net assets between funds General funds Restrlcted funds Total Fund tsalans at 31 March 2024 are represented by: Tanglble fixed assets Net current assets 350,000 73.525 26,096 89.291 376.096 162,816 423,525 115,387 538.912 18. Financlal commitments At 31 March 2024 Ihe company had total commltments under non-cancellable operating leases as follows.. 2024 2023 Due.. Wllhln one year Beeen one and flve years 5,888 17,664 5,888 23,552 23,552 29,440 19. Capltal ¢ommltments There are lift works scheduled for April and May 2024 with an approximate cost of £139,000 fully funded by a capitsl grant from The City Bridge Trust. 20. Related party transactlons Trustees made a totsl of £2,200 (2023: £1,260) donation5 during the year. 32
The Half Moon Young People's Theatre Limited (Limlted by Guarantee) Notes to the Flnanclal Statements for the year ended 31 March 2024 21. Analysls of changes in net funds Openlng balance Cash flows Closlng balance Cash at bank and in hand 260.112 (160,803) 99.309 Debt due within one year (88,879) 88.879 Net funds 171.233 (71,924) 99.309 22. Reconclllatlon of net Incomel(expendlture) to net cashflow from operatlng actlvltles 2024 2023 Net Incomell8xpanditure) for the reporting perlod (as per the Statement of financial acuvitles) Depreciation Dividends, interest and rents from Investrnents (Surplus) on the disposal of fixed assets (Increase) In debtors {Decreas6) in creditors 8.432 (47,883) 23,060 (2,566) {17.077) (74,398) (11,941) 59.811 (2,459) (14,865) (5,205) Net cash oufflow from operatlng actlvltles (74,490) 110.601) 33