2023-03-31-accounts - The Chicken Shed Theatre Trust

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Annual	Report	Report	ofthe Directors/ Achievements	ofthe Directors/ Achievements	and Performance	and Performance
		~	Overview				4
		~	Strategies Employed to Achieve Charity's			Aims 8 Objectives	5
			o Performance				5
			o Young Company				5
			o Education				6
			o Community	& Outreach			7
			o Training & Partnerships				8
			o Volunteers				8
		~	Financial Results	&Commentary			9
		~	Directors				9
		~	Auditors				10
		~	Disclosure ofthe	Information	to Auditors		10
Statement		of Directors' Responsibilities
Independent Auditor's Report							12
Financial		Statements					16
Notes	to the Financial Statements						19

Directors:			Simon Allford
			Pete Constanti
			Richard Croft
			Chris De Pury
			Martin Gafsen
			Anthony Gibbon (Chairman)
			Kathleen Hall
			Brendan Kerr
			The Hon. Natasha Rayne
			Lady Rayne Lacey
			Aref Lahham
			James Lock
			Dr Lesley Main (resigned	12'" November 2022)
			Nick Millican
			Ashley Muldoon
			Matthew Rose (Treasurer)
			Theodor Sergiou
			Prof. Jonathan Shalit OBE
			Phoebe Vela-Hitchcox
Non-Executive		Directors:	Dame Judi Dench CH DBE
Executive	Officers:		Louise Perry (Managing	Director)
			Paul Morrall (Director of	Education		&Training)
Honorary	Presidents:		The Hon. Natasha Rayne	(President)
			The Lady Rayne Lacey (President			Emeritus)
Ambassadors		&Guardians:	JoCollins 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
Bankers:			Barclays Bank pic
			Media Bank Centre
			1st Floor, Soho Square
			London W1D 3QR
Auditors:			Alliotts LLP
			Manfield House
			1 Southampton Street, London
			WC2R OLR

		Unrestricted	Restricted	2023	Unrestricted	Restricted	2022
	Note	Fund	Fund	Total	Fund	Fund	Total
Income from:
Donations and legacies		267,503	26,393	293,896	621,207	34,248	655,455
Charitable activities:
Grants	3	144,353	848,222	992,575	140,499	619,556	760,155
Productions		529,140		529,140	363,235	582	363,817
Subscriptions Education		234,736 1,264,360	2,459 2,160	237,195 1,266,520	200,099 1,153,546	9,441 1,560	209,540 1,155,106
Agency, royalties and other income		39,104		39,104	22,158		22,158
Memhandising		396		396	203		203
Bar and catering					284		284
Other trading activities:
Fundraising events and
activities		315,844		315,844	174,090		174,090
Commercial trading	6	225,557		225,557	107,466		107,466
Investments		3,744		3,744	109		109
Other Operating income:
Government Grants		35,763		35,763	412,229		412,229
Total Income		3,060,500	879.234	3,939.734	3,195,125	665,487	3,860,612
Expenditure on:
Raising funds:
Fundraising, marketing
and promotional	5	545,358	11,698	557,056	512,345	16,146	528,491
Commerdal trading Charitable activities	6 7	185,674 1,812,505	818,310	185,674 2,630,815	83,090 1,809,045	703,843	83,090 2,512,888
Other	8	75,886	109	75,995	71,700	1,059	72,759
Total Resources Expended	10	2,619,423	830,117	3,449,540	2,476,180	721,048	3,197,228
Net Income/(expenditure)		441,077	49,117	490,194	718,945	(55,561)	663,384
Fund balance brought forward at 1"April 2022		1,110,626	2,569,068	3,679,694	391,681	2,624,629	3,016,310
Fund balance carried forward at 31"March 2023		E 1,551,703	E2,618,185	f4,169,888	f 1,110,626	E2,569,068	E 3,679,694

s at 31 March 202	3
			Group	Group	Trust	Trust
		Note	2023	2022	2023	2022
Fixed assets
Tangible assets		12	2,246,151	2,203,078	2,239,679	2,197,199
Investment		13	-	-	1	1
			2,246,151	2,203,078	2,239,680	2,197,200
Current Assets
Stocks —goods for	resale		5,089	8,893
Debtors		14	800,485	407,772	798,469	407,818
Bank and cash balances			1,465,056	1,496,312	1,394,437	1,433,638
			2,270,630	1,912,977	2,192,906	1,841,456
Creditors, amounts	falling
due within one year		15a	(346,893)	(414,163)	(302,536)	(336,720)
Net Current assets			1,923,737	1,498,814	1,890,370	1,504,736
Total Assets less Current
Liabilities			4,169,888	3,701,892	4,130,050	3,701,936
Creditors, amounts	falling due
after more than one	year	15b		(22,198)		(22,198)
Net Assets			64,169,888	63,679,694	64,130,050	83,679,738
Funds
Restricted		16	2,618,185	2,569,068	2,618,185	2,569,068
Unrestricted		16	1,551,703	1,110,626	1,511,865	1,110,670
			64,169,888	F3,679,694	f4,130,050	63,679,738

				Group	Group	Group	Trust	Trust	Trust
			Note 2023		2022		2023		2022
Net Cash Inflow/(Oufflow)
From Operating Activities				157,773	626,709		148,302		564,707
Returns on Investment
and Servicing ofFinance
Interest Received				3,744	109		3,744		109
Capital Expenditure
Purchase oftangible	fixed	assets		(192,777)	(67,797)		(191,249)		(65,580)
Investments
(Decrease)/increase	in cash			(E31,260)	E559,021		(E39,203)		E499,236
Reconciliation of Net	Outgoing		Resources	to
Net Cash (Oufflow)/inflow		from	Operating	Activities
				Group	Group		Trust		Trust
				2023	2022		2023		2022
Net Incoming/(Outgoing)		Resources		490,194	663,384		450,311		639,007
Interest Received				(3,744)	(109)		(3,744)		(109)
Depreciation				164,699	157,578		163,767		156,869
Donated Assets				(15,000)			(15,000)
Decrease/(Increase)	in stock			3,804	(8,893)
(Increase)/Decrease	in debtors			(392,714)	(58,000)		(390,650)		(43,300)
(Decrease)/Increase	in creditors			89,468	127,250		56,382		187760
Net cash Inflow/(Oufflow)		from
Operating activities				E157773	E626,709		E148,302		E564,707
Analysis of Net Cash
							Grou		Trust
Cash at bank and in	hand	—at 1"April 2022			F	1,496,312		E	1,433,638
(Decrease)/Increase	in cash during the year					(E31,260)			(E39,203)
Cash at bank and in	hand	—at 31"March 2023			E	1,465,052		E1,394,435

Grant Analysis
Grants received during the year			include the following:
					2023	2022
					E	F
For COVID support: Arts Council England						10,630
For Children's and Youth	Theatre:
BBCChildren in Need					49,328
Boris Karloff Charitable Foundation					1,000
The Childhood Trust					10,500	10,500
London Borough of Enfield						20,000
The Foyle Foundation					17,000
The Greenoaks Charitable	Trust					7,500
The Mercers' Company						79,653
The Vandervell Foundation						3,000
Young Barnet Foundation						4,374
Young Creators scheme:
EBM Charitable Trust					15,000	15,000
For Education:
Goldman Sachs Gives						5,000
The Greater London Authority —Young Londoners				Fund	31,578	54,354
Killick &Co Charitable Trust						2,500
Office for Students					351,351	72,395
The Redhill Trust					3,500
Heritage Project:
The National Lottery					245,000
For building, facilities & London Borough of Enfield	equipment:					60,000
Ernest Hecht Charitable Foundation						37,203
The Greenoaks Charitable	Trust				5,000
For Outreach projects: COGS Enfield —Borough	Link Manager					66,000
John Lyon's Charity					33,000	29,000
London Borough of Enfield London Community Response The National Lottery		Fund			5,000 26,255 49,711	42,836 49,711
MK Rose Chaditable Trust					5,000
The Thomson Family Charitable			Trust			50,000

General:
American Friends ofChickenshed					17,853
The Andor Charitable Trust					5,000	5,000
The Basil Samuel Charitable Trust					10,000
Capital Group					29,500
Chapman Charitable Trust					2,000
International Music and Art		Foundation			36,000	16,000
The JFRCharitable Trust						7,000
The London Borough of Enfield						70,000
The Madison Foundation					10,000	3,000
Mazars Charitable Trust					1,000
The Mishcon Family Charitable			Trust			1,000
MK Rose Charitable Trust					15,000
The National Philanthropic		Trust				25,000
Peter Deer Associates					5,000
The Sheldonia Charitable	Trust				3,000	3,000
The Worshipful Company	of Builders'			Merchants		3,500
Anonymous					10,000	5,000
Total Grants					5992,575	5760,155

		2023	2022
Grant income from the Office for	Students	351,351	72,395
Grant income from other bodies		641,224	687,760
Total Grant income		5992,575	F760,155
Fee income for taught awards (excl ofVAT)		450,500	512,320
Fee income for research awards	(excl ofVAT)
Fee income from non-qualifying	courses (excl ofVAT)	443,636	338,943
Total Fee income		6894,136	6851,263
Total Grant and Fee income		61,886,711	61,611,418

e summary f	inancial	performance ofthe charit	able company alone is:
			2023	2022
Income			3,714,177	3,753,146
Total Income			3,714,177	3,753,146
Expenditure	on:
Raising Funds			557,056	528,492
Charitable	Activities		2,630,815	2,512,888
Other			75,995	72,759
Total Resources Expended			3,263,866	3,114,138
Net income			450,311	639,007
Total funds brought		forward	3,679,738	3,040,731
Total funds	carried	forward	4,130,049	3,679,738
Represented Restricted	by: funds		2,618,185	2,569,068
Unrestricted	funds		1,511,865	1,110,670
			4,130,050	3,679,738

he summary ofthe financial per	formance	ofthe subsidiar	y alone i	s:
				2023	2022
Turnover				225,557	107,466
Total Income				225,557	107,466
Cost ofsales and administration	costs			185,674	83,090
Net (loss)/profit				39,883	24,376
Amount gift aided tothe trust
Retained in subsidiary				39,883	24,376
The assets and liabilities ofthe	subsidiary	were:
Current assets				116,023	155,057
Current liabilities				76,184	155,102
Total net assets				39,839
Share capital and reserves			E	39,839

Expenditure on Charitable	Expenditure on Charitable	Activities	Activities
				2023			22
Wages
- National Development	and
Training Programme			304,869			343,922
-Production and Artistic
Direction			434,068			412,870
-Front ofHouse and Box		Office	130,545			138,357
-Education			717,690			668,089
					1,587,172		1,563,238
Other direct expenses
-Production and Workshops			153,023			131,308
-Education			141,437			143,810
-Merchandise						3,193
-Bar and Catering
- Depreciation (Restricted		Fund)	75,228			81,015
					369,688			359,326
Allocation ofsupport costs					673,955			590,325
				6	2,630,815		6	2,512,888

Other co	sts
				2023		2022
Wages				40,171		39,023
Audit				19,000		19,000
Allocation	ofsupport	costs		16,824		14,736
			F	75,995	6	72,759

Support costs	Support costs
			2023		2022
Wages			406,845		387,417
Depreciation			78,423		65,234
Rent			17,500		10,000
Light and heat			71,365		51,082
Cleaning			41,740		39,891
Maintenance			92,720		76,321
Insurance			53,886		39,038
Legal fees			2,500
Consultancy	Fees		2,050		1,625
Telephone			13,434		15,797
Postage			478		762
Printing, stationery		and computer costs	30,215		18,511
Travel and Motor			6,695		4,065
Miscellaneous			45,390		36,780
Loan interest					2,000
Irrecoverable	VAT		80,359		75,428
Bad Debt Expense					(2,970)
Training and	recruitment		5,110		7,775
Currency Variance			(2,545)
			946,165	F	828,756

ions are based upon the charge to:	p	roportion of direct expense	s with weighting	giv	en to direc
			2023		2022
Charitable expenditure			673,955		590,325
Raising funds			255,386		223,695
Other costs			16,624		14736
			946,165	f	828,756
come/(expenditure)
Net income/(expenditure)	is	stated after charging:	2023f		2022f
Depreciation -restricted	fund		85,345		91,636
-unrestdcted		fund	79,353		65,943
Audit fees			25,400		26,375
Operating leases - land and		buildings	17,500		10,000

ff costs during the year	were as follows:
	Group	Group	Trust	Trust
	2023	2022	2023	2022
Wages and salaries Social security costs	2,044,802 176,983	1,987,756 154,380	1,986,796 175,617	1,963,000 153,654
Other pension costs	52,480	51,434	52,294	51,324
Contract staff	32,940	26,651	32,940	26,651
	62,307,205	62,220,221	62,247,647	62,194,629

e average mon ar was:	thly number of p	ersons, full and p	art time, employe	d by the charity	during th
		Group	Group	Trust	Trust
		2023	2022	2023	2022
Administration	and finance	9	10	9	10
Artistic and education		58	58	58	58
Fund raising and publicity		7	7	7	7
Production		7	7	7	7
General management:
Front of house
Boxoffice
Building maintenance
Catering
		102	104	95	98

naging	Director's Remuneration was as	follows:
		2023	2022
Salary		653,562	652,031
Pension	Costs	F 1,592	61,561

ngible Fixed Assets —fo	rth	e Group
						Fixtures,
						Fittings
		Leasehold		Theatre		and other
		~P		~E		~E		Total
Cost or valuation
At 1"April 2022		3,458,160		938,475		978,237		5,374,872
Additions				52,375		155,402		207,777
Disposals
At 31"March 2023	F	3,458,160	5	990,851	f	1,133,638		5,582,649
Depreciation At 1"April 2022		1,596,646		817,501		757,647		3,171,794
Charge for the year		69,166		34,123		61,411		164,699
Disposals
At 31"March 2023	F	1,665,812	f	851,624	5	819,058	F	3,336,494
Net book value
At 31"March 2023	F	1,792,348	5	139,277	5	314,580	8	2,246,155
At 31st March 2022	6	1,861,514	E	120,974	E	220,590	5	2,203,078

Charitable company
							Fixtures,
							Fittings
		Leasehold			Theatre		and other
		~P		~E			~E		Total
Cost or valuation
At ts April 2022		3,458,160			938,476		971,024		5,367,659
Additions					52,375		153,874		206,249
Disposals
At31"March 2023	E	3,458,160	E		990,851	F	1,124,895	E	5,573,906
Depreciation At 1"April 2022		1,596,646			817,501		756,311		3,170,459
Charge for the year		69,165			34,123		60,479		163,767
Disposals
At31"March 2023	E	1,665,812	E		851,624	E	816,791	E	3,334,227
Net book value
At31"March 2023	E	1,792,348	E		139,227	E	308,104	E	2,239,679
At 31st March 2022	E	1,861,514	E		120,974	E	214,712	E	2,197,199

ebtors
	Group	Group	Trust	Trust
	2023	2022	2023	2022
Trade debtors	87,758	46,666	85,742	45,640
Accrued income	602,088	273,785	602,088	273,785
Prepayments	86,207	74,327	86,207	74,327
Amount due from subsidiary				1,072
Other debtors	24,432	12,994	24,432	12,994
	8800,485	F407,772	F798,469	6407,818

	Group	Group	Trust	Trust
	2023	2022	2023	2022
VAT, payroll taxes and social
security payable	49,250	61,069	(2,777)	34,334
Deferred income	54,322	91,990	54,322	91,990
Accru ale	115,267	106,185	109,518	100,435
Amount due to subsidiary			31,826
Other creditors	128,054	154,919	109,647	109,961
	F346,893	E.414,163	f302,536	E.336,720

reditors, amo	unts falling du	e after more tha	n one year
		Group	Group	Trust	Trust
		2023	2022	2023	2022
Loans
Hire purchase	agreement		22,198		22,198
		5-	E22,198		F22,198

Analysis of Net A	ssets Between F	unds
			Restricted		Unrestdcted
2022:Group			Funds		Funds		Total
Fixed assets			1,950,036		253,042		2,203,078
Net current assets			619,032		857,584		1,476,616
			2,569,068	6	1,110,626	F	3,679,694
			Restricted		Unrestricted
2022:Charitable	Company		Funds		Funds		Total
Fixed assets			1,950,036		247,163		2,197,199
Net current assets			619,032		863,507		1,482,539
			2,569,068	5	1,110,670	2	3,679,738
			Restricted		Unrestricted
2023:Group			Funds		Funds		Total
Fixed assets			1,864,691		381,460		2,246,151
Net current assets			753,494		1,170,243		1,923,737
		6	2,618,185		6 1,551,703	F	4,169,888
			Restricted		Unrestricted
2023:Charitable	company		Funds		Funds		Total
Fixed assets			1,864,691		374,988		2,239,679
Net current assets			753,494		1,136,877		1,890,371
			2,618,185	6	1,511,865	E.	4,130,050

Group and charitable	co	mpany Restri	cted funds (cont	inu	ed)
			Brought		Incoming	Outgoing	Carried
			Forward	Resources		Resources	Forward
National lottery			1,829,361			(69,165)	1,760,196
Minibus			409			(409)
New dassroom			634			(634)
Building Management	System		1,388			(1,388)
Building &Facilities			60,000		2,500	(2,500)	60,000
Artistic programme			121,990		74,711	(145,385)	51,316
Chickenshed Kensington		&Chelsea	15,317		4,619	(11,922)	8,014
Children &Youth theatre		Programme	35,769		50,328	(40,669)	45,428
Education programme			92,398		386,429	(335,587)	143,240
Education programme	—Equipment		33,560			(2,731)	30,829
YC Support Initiative
Outreach programme			208,612		56,255	(159,398)	105,469
National Lottery Heritage		Project			245,000		245,000
AV/IT &theatre equipment			40,103		2,500	(1,762)	40,841
Studio theatre development			28,770			(902)	27,868
Young Creators programme			8,736		15,000	(16,711)	7,025
Kitchen Refurbishment			35,634			(3,762)	31,872
Rayne Theatre Flooring			7,740			(2,580)	5,160
Office Refurbishment			5,729			(5,729)
The Wendy House Project			20,000		10,000	(963)	29,037
Children Connecting	Communities		22,918		31,893	(27,918)	26,893
			E2,569,068	E	879,234	E (S30,114) E. 2,618,188