2021-03-31-accounts - The Chicken Shed Theatre Trust

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Directors:			Simon Allford
			Joshua Berger CBE
			Pete Constanti
			Chris De Pury (appointed		3'"December 2020)
			Martin Gafsen
			Anthony Gibbon (Chairman)
			Jacky Griffin (resigned 29'" September 2020) Kathleen Hall (appointed 23"June 2021)
			Christine Mason
			The Hon. Natasha Rayne
			Lady Rayne Lacey
			Aref Lahham
			James Lock
			Lesley Main (appointed	23'"June			2021)
			Nick Millican
			Ashley Muldoon
			Matthew Rose (Treasurer)
			Prof. Jonathan Shalit OBE
			Jude Tyrrell (resigned 2" i		July 2020)
			Phoebe Vela-Hitchcox
Non-Executive		Directors:	Dame Judi Dench CH DBE
Executive	Officers:		Louise Perry (Managing	Director)
			Paul Morrall (Director of Education Lou Stein (Artistic Director —until				8Training) 31s March 2021)
Honorary	Presidents:		The Hon. Natasha Rayne	(President)
			The Lady Rayne Lacey (President				Emeritus)
Ambassadors		Ik Guardians:	Jo Collins MBE (Founder)
			Mary Ward MBE (Founder)
Company	Secretary:		Daniel Beacock
Registered	Office:		Chicken Shed Theatre
			290Chase Side, Southgate,			London, N14 4PE
Company	Registration:		Number 02705172 (England			and Wales)
Registered	Charity:		Number 1012369
Bankem:			Barclays Bank pic
			Media Bank Centre
			1stFloor, Soho Square
			London W1D 3QR
Auditors:			Alliotts LLP
			Imperial House
			8 Kean Street, London
			WC2B 4AS

		Unrestricted	Restricted	2021	Unrestricted	Restricted	2020
	Note	Fund	Fund	Total	Fund	Fund	Total
Income from:
Donations and legacies		531,491	143,822	675,313	380,504	38,400	418,904
Charitable activities:
Grants	3	127,352	530,754	658,106	64,000	495,822	559,822
Productions		38,879		38,879	437,604	4,617	442,221
Subscriptions		171,607	2,491	174,098	210,243	15,291	225,534
Education		1,086,309		1,086,309	1,093,823	10,262	1,104,085
Agency, royalties and
other income		15,451		15,451	75,648	(845)	74,803
Merchandising		99		99	4,458		4,458
Bar and catering					11,384		11,384
Other trading activities:
Fundraising events and
activities		12,765		12,765	654,096		654,096
Commercial trading	6	(6,388)		(6,388)	492,841		492,841
Investments		690		690	703		703
Other Operating income:
Government Grants		695,220		695,220
Total Income		2,673,475	677,067	3,350,542	3,425,304	563,547	3,988,851
Expenditure on:
Raising funds:
Fundraising, marketing
and promotional	5	484,768	23,832	508,600	738,815	42,077	780,892
Commercial trading	6	224,709		224,709	322,707		322,707
Charitable actwities	7	1,508,026	603,163	2,111,189	1,969,673	445,136	2,414,809
Other	8	71,622	1,493	73,115	72,857	2,885	75,742
Total Resources Expended	10	2,289,125	628,488	2,917,613	3,104,052	490,098	3,594,150
Net Income/(expenditure)		384,350	48,579	432,929	321,252	73,449	394,701
Fund balance brought forward at 1"April 2020		7,331	2,576,050	2,583,381	(313,921)	2,502,601	2,188,680
Fund balance carried forward at 31e March 2021		E391,681	E 2,624,629	F 3,016,310	E7,331	F 2,576,050	E 2,583,381

				Group	Group	Trust	Trust
			Note	2021	2020	2021	2020
Fixed assets
Tangible assets			12	2,292,858	2,314,055	2,288,488	2,309,060
Investment			13			1	1
				2,292,858	2,314,055	2,288,489	2,309,061
Current Assets
Stocks- goods for		resale			2,545		2,545
Debtors			14	349,772	321,402	364,518	649,688
Bank and	cash balances			937,291	417,967	934,402	332,993
				1,287,063	741,914	1,298,920	985,226
Creditors,	amounts	falling
due within	one year		15a	(538,883)	(340,818)	(521,950)	(749,270)
Net Current assets				748,180	401,096	776,970	235,956
Total Assets less Current
Liabilities				3,041,038	2,715,151	3,065,459	2,545,017
Creditors,	amounts	falling due
after more	than one	year	15b	(24,728)	(131,770)	(24,728)	(131,770)
Net Assets				83,016,310	82,583,381	F 3,040,731	E2,413,247
Funds
Restricted			16	2,624,629	2,576,050	2,624,629	2,576,050
Unrestricted			16	391,681	7,331	416,102	(162,803)
				83,016,310	E2,583,381	F 3,040,731	F 2,413,247

				Group	Group	Trust	Trust
		Note		2021	2020	2021	2020
Net Cash Inflow/(OuNow)
From Operating Activities				636,669	315,371	718,753	225,403
Returns on Investment
and Servicing ofFinance
Interest Received				690	703	690	703
Capital Expenditure
Purchase oftangible fixed assets				(118,035)	(90,995)	(118,035)	(86,000)
Investments
Increase/(Decrease) in cash				6519,324	6225,079	6601,409	F 140,105
Reconciliation of Net Outgoing		Resources	to
Net Cash (OuNow)/inflow	from	Operating	Activities
				Group	Group	Trust	Trust
				2021	2020	2021	2020
Net Incoming/(Outgoing)	Resources			432,929	394,701	627,484	224,567
Interest Received				(690)	(703)	(690)	(703)
Depreciation				139,232	145,897	138,606	145,897
Decrease/(Increase) in stock				2,545		2,545
(Increase)/Decrease in debtors				(28,370)	(24,234)	285,170	(352,520)
Increase/(Decrease) in creditors				91 023	200290	334362	208 162
Net cash Infiow/(Oufflow)	from
Operating activities				6636,669	6315,371	F718,753	F225403
Analysis of Net Cash
						Grou	TnJst
Cash at bank and in hand	—at 1"April 2020					6417,967	F332,993
Increase/(Decrease) in cash during the year						6519,324	F601,409
Cash at bank and in hand	—at 31a March 2021					6937,291	F934,402

Grants received during the	Grants received during the	year include the following:	year include the following:	year include the following:
					2021	2020
					E	F
For COVID support:
Arts Council England					95,673
The Greenoaks Charitable	Trust				2,544
Rotary Club					500
For Children's and Youth	Theatre:
BBCChildren in Need					2,497	9,967
The Childhood Trust					10,500	10,500
The Greenoaks Charitable	Trust				3,800	3,800
John Horniman's Children's		Trust				3,000
Kensington &Chelsea Foundation-					15,000
The Mackintosh Foundation						1,680
The Mercers' Company						91,345
Newman's Own Foundation						3,717
The Julia & Hans Rausing	Trust				100,238
The Vandervell Foundation					3,000	3,000
Young Creators scheme:
EBM Charitable Trust					15,000	15,000
For Production:
Ernest Hecht Charitable Foundation						8,528
For Education:
Ernest Hecht Charitable Foundation						50,339
The Freed-Phillips Family Fund						5,000
Goldman Sachs Gives					5,000	5,000
The Greater London Authority —Young Londoners				Fund	47,971	23,986
The Joseph Levy Foundation						25,000
Killick &Co Charitable Trust					2,500	2,500
Kirby Laing Foundation					5,000	5,000
Network for Social Change					18,090
Office for Students					117,739	51,261
The Presidents Club						14,500
The Red Hill Trust						3,200
The Rotary Club, Enfield					1,000
The Thomson Family Charitable			Trust			50,000
For building and facilities:
The Span Trust						2,500
The Story of Christmas						40,000
For Outreach projects:
Bupa UK Foundation						23,000
City Bridge Trust					19,510
Derwent London					5,000
John Lyon's Charity					29,000	29,000
London Borough of Enfield					5,208
The National Lottery					27,984
MK Rose Charitable Trust					3,000
The Royal Borough of Kensington			and Chelsea		10,000

General:
The A & R Woolf Charitable		Trust				500
American Friends of Chickenshed					36,352
The Andor Charitable Trust						7,500
Anonymous						5,000
The Beale Trust					500
The Boris Karloff Charitable		Foundation			1,000
Chapman Charitable Trust					2,000	2,000
The EC Sosnow Charitable		Trust				3,000
lan MacTaggart Trust					1,500
International Music and Art		Foundation			18,000	18,000
The Lawson Foundation					10,000
The Madison Foundation					5,000	10,000
Mazars Charitable Trust						1,000
MK Rose Charitable Trust					30,000
Multithon Trust						100
The Rayne Foundation					5,000
The Sheldonia Charitable	Trust				3,000	3,900
The Sir Robert Horton Charitable			Trust Fund			1,000
The Taurus Foundation					15,000	10,000
The Worshipful Company	of Builders'			Merchants		2,000

			2021	2020
Income			3,320,387	3,496,010
Total Income			3,320,387	3,496,010
Expenditure	on:
Raising Funds			508,600	780,892
Charitable	Activities		2,111,189	2,414,809
Other			73,115	75,742
Total Resources Expended			2,692,904	3,271,443
Net income			627,485	224,567
Total funds brought		forward	2,413,247	2,188,680
Total funds	carried	forward	3,040,732	2,413,247
Represented	by:
Restricted	funds		2,624,629	2,576,050
Unrestricted	funds		416102	162,803
			3,040,731	2,413,247

he summary ofthe financial pe	rformanc	e	ofthe subsidi	ary alone	is:
					2021		2020
Turnover					(6,388)		492,841
Other Operating income —Government		Grants			36,543
Total Income					30,155		492,841
Cost ofsales and administration	costs				54, 575		322,707
Net (loss)/profit					(24,420)		170,134
Amount giR aided to the trust					170 134
Retained in subsidiary					194554		170 134
The assets and liabilities ofthe	subsidiary		were:
Current assets					8,276		537,511
Current liabilities					32,695		367376
Total net assets					24419		170135
Share capital and reserves				F	24,419	F	170,135

Expenditure on Charitab	le	Activi	ties
				2021			2020
Wages
- National Development	and
Training Programme			382,634			418,648
-Production and Artistic
Direction			339,349			361,315
-Front of House and Box		Office	130,236			111,660
-Education			502,259			497,218
					1,354,478		1,388,841
Other direct expenses
-Production and Workshops			24,250			167,563
-Education			134,082			158,106
-Merchandise			2,336			1,053
-Barand Catering			208			614
-Depreciation (Restricted		Fund)	72,013			69,933
					232,889		397,269
Allocation ofsupport costs					523,822		628,699
				F	2,111,189		2,414,809

Other co	sts
				2021		2020
Wages				39,023		39,023
Audit				19,000		19,000
Allocation	ofsupport	costs		15,092		17,719
			F	73,115	E	75,742

				2021		2020
Wages				410,352		397,698
Depreciation				54,721		61,958
Rent				23,582		66,996
Light and heat				33,229		52,516
Cleaning				23,340		30,055
Maintenance				71,385		85,094
Insurance				38,287		38,679
Legal fees
Consultancy	Fees			7,642		12,869
Telephone				8,116		9,507
Postage				1,329		3,555
Printing, stationery		and computer costs		11,702		20,330
Travel and Motor				1,695		7,712
Miscellaneous				28,739		42,981
Loan interest				2,000		2,000
Irrecoverable	VAT			66,460		118,490
Bad Debt Expense
Training and	recruitment			1,399		3,104
			F	783,978	E	953,544

charge to:
		2021		2020
Charitable expenditure		523,822		628,699
Raising funds		245,065		307,126
Other costs		15,091		17,719
	F	783,978	F	953,544

Net income	/(e	xpenditure)	is	stated aRer charging:
					2021	2020
					F	F
Depreciation		-restricted	fund		83,886	83,937
		-unrestricted		fund	55,346	61,960
Audit fees					19,000	19,000
Operating	leases - land and			buildings	23,582	66,996

ff costs during the year	were as follows:
	Group	Group	Trust	Trust
	2021	2020	2021	2020
Wages and salaries	1,842,746	1,948,613	1,803,368	1,871,650
Social security costs	154,313	154,746	151,612	149,023
Other pension costs	50,019	51,512	49,338	51,049
Contract staff	22,862	31,579	22,862	31,579
Termination payments		374		374
	F2,069,940	F 2,186,824	62,027,180	F 2,103,675

		Group	Group	Trust	Trust
		2021	2020	2021	2020
Administration	and finance	10	10	10	10
Artistic and education		48	52	48	52
Fund raising and publicity		7	8	7	8
Production		3	5	3	5
General management
Front of house			3
Boxoffice			7
Building maintenance			8
Catering			13
			106	85	93

naging	Director's Remuneration was as	follows:
		2021	2020
Salary		F 52,031	F 52,031
Pension	Costs	F 1,561	6 1,561

						Fixtures,
						Fittings
		Leasehold		Theatre		and other
		~Pro e		~Ei t		~Ei t	Total
Cost or valuation
At 1stApril 2020		3,458,160		849,520		881,359	5,189,039
Additions				62,617		55,418	118,035
Disposals
At 31stMarch 2021		3,458,160	F	912,137	F	936,778F	5,307,074
Depreciation
At 1st April 2020		1,458,315		759,616		657,053	2,874,984
Charge for the year		69,166		22,904		47,162	139,232
Disposals
At 31st March 2021	F	1,527,481	5	782,520	5	704,2156	3,014,216
Net book value
At 31stMarch 2021		1,930,679	F	129,617	F	232,563F	2,292,858
At 31st March 2020	F	1,999,845	F	89,904	F	224,306F	2,314,055

he Charitable company
						Fixtures,
		Leasehold ~Pro e		Theatre ~Et		Fittings and other ~Et	Total
Cost or valuation
At 1stApril 2020		3,458,160		849,520		876,364	5,184,044
Additions				62,617		55,418	118,035
Disposals
At 31stMarch 2021		3,458,160	F	912,137	F	931,782	F5,302,079
Depreciation
At 1st April 2020		1,458,315		759,616		657,053	2,874,984
Charge for the year		69,166		22,904		46,536	138,606
Disposals
At 31st March 2021	F	1,527,481	5	782,520	5	703,5895	3,013,590
Net book value
At 31stMarch 2021		1,930,679	F	129,617	F	228,192F	2,288,488
At 31st March 2020	F	1,999,845	5	89,904	5	219,311f	2,309,060

ebtors
	Group	Group	Trust	Trust
	2021	2020	2021	2020
Trade debtors	18,866	62,701	18,236	55,615
Accrued income	238,412	157,372	238,412	157,371
Prepayments	60,239	65,022	60,239	65,022
Amount due from subsidiary			15,376	339,719
Other debtors	32,255	36,307	32,255	31,961
	F349,772	F321,402	8364,518	8649,688

			Group	Group	Trust	Trust
			2021	2020	2021	2020
VAT, payroll		taxes and social
security	payable		47,144	65,894	35,596	48,031
Deferred	income		99,481	76,906	99,481	73,066
Accruals			87,152	74,142	81,402	68,392
Amount	due	to subsidiary			388	440,725
Other creditors			205,106	123,876	205,083	119,056
Loans			100,000		100,000
			F538,883	6340,818	6521,950	F749,270

reditors, amo	unts falling d	ue after more th	an one year
		Group	Group	Trust	Trust
		2021	2020	2021	2020
Loans			100,000		100,000
Hire purchase	agreement	24,728	31,770	24,728	31,770
		F24,728	8 131,770	F24,728	8 131,770

Analysis of Net A	ssets Between F	unds
			Restricted		Unrestricted
2020:Group			Funds		Funds		Total
Fixed assets			2,059,278		254,777		2,314,055
Net current assets			516,772		(247,446)		269,326
		F	2,576,050	F	7,331	F	2,583,381
			Restricted		Unrestricted
2020:Charitable	Company		Funds		Funds		Total
Fixed assets			2,059,278		249,783		2,309,061
Net current assets			516,772		(412,586)		104,186
		F	2,576,050	F	(162,803)	F	2,413,247
			Restricted		Unrestricted
2021:Group			Funds		Funds		Total
Fixed assets			2,041,673		251,185		2,292,858
Net current assets			582,956		140,496		723,452
		F	2,624,629		6391,681	F	3,016,310
			Restricted		Unrestricted
2021:Charitable	company		Funds		Funds		Total
Fixed assets			2,041,673		246,816		2,288,489
Net current assets			582,956		169,286		752,242
		F	2,624,629	F	416,102	F	3,040,731

Group and charitable co	mpany Re	stricted funds (con	tinu	ed)
		Brought		Incoming		Outgoing	Carried
		Forward	Resources		Resources		Forward
National lottery		1,967,691				(69,165)	1,898,526
Minibus		4,303				(2,459)	1,844
New classroom		8,804				(4,038)	4,766
Building Management System		4,710				(1,661)	3,049
Artistic programme		137,823		30,984		(41,506)	127,301
Chickenshed Kensington	&Chelsea	15,000		113,329		(118,648)	9,681
Children &Youth theatre	Programme	22,372		25,005		(25,025)	22,352
Education programme		181,967		186,710		(255,573)	113,104
YC Support Initiative				40,000		(6,667)	33,333
Outreach programme		77,456		71,600		(44,249)	104,807
COVID Support				98,717		(3,044)	95,673
AV/IT &theatre equipment		43,998				(1,910)	42,088
Studio theatre development		30,574				(902)	29,672
Young Creators programme		19,785		55,000		(42,687)	32,098
Kitchen Refurbishment		40,000				(170)	39,830
Rayne Theatre Flooring		12,900				(2,580)	10,320
Office Refurbishment		8,667				(1,000)	7,667
The Wendy House Project				20,000			20,000
Children Connecting Communities				35,722		(7,204)	28,518
		62,576,050	6	677,067	6	(628,488)	6 2,624,629
National Lottery funding building, and depreciation	is restricted to the costs of the ofthose costs, over the period		construction ofthe lease.		and	furnishing	of the theatre