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2022-03-31-accounts

Company number 2625105 Charity number 1012507

Theatre de Complicite Education Limited

(Limited by Guarantee)

Report and Financial Statements

for the year ended 31 March 2022

Breckman & Company Ltd Chartered Certified Accountants 49 South Molton Street London W1K 5LH

Theatre de Complicite Education Limited

(Limited by Guarantee)

Contents

Page
Reference and Administrative Details 1 - 2
Trustees' Report 3 - 12
Auditors' Report 13 - 15
Statement of Financial Activities (including Income and Expenditure Account) 16 - 22
Balance Sheet 23
Cash Flow Statement 24
Notes to the Financial Statements 25 - 35

Theatre de Complicite Education Limited

(Limited by Guarantee)

Reference and Administrative Details

Constitution

The company is a private company limited by guarantee registered in EW - England & Wales, company number 2625105 and its governing document is its Memorandum and Articles of Association. The company is a registered charity, number 1012507.

Directors and trustees

The directors of the charitable company ("the charity") are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees.

As set out in the Articles of Association the trustees are appointed by the existing Board of Trustees. A member of the Board of Trustees must propose such a person for election. Notice shall be given to the Board of Trustees for the meeting at which it is intended to propose such persons for election, stating the object of the meeting, the name and address of the person to be proposed and the name of the board member proposing such person.

Policies and procedures adopted for the induction and training of trustees are ongoing and incorporated indirectly into the regular trustees meetings.

The trustees during the year and since the year end, were :

Martha Awojobi appointed 14 April 2022
Roger Graef OBE deceased 3 March 2022
Stephen Taylor resigned 11 July 2022
Inua Ellams appointed 14 April 2022
Peter Flamman appointed 14 April 2022
Sarah Coop resigned 14 April 2022
Emma Stevenson appointed 14 April 2022
Frances Hughes
Tom Morris (Chair)
Nitin Sawhney CBE, D.Mus

Secretary

Louise Wiggins

Artistic Director

Simon McBurney

Executive Director

Amber Massie-Blomfield

Auditors

Breckman & Company Ltd, Chartered Certified Accountants, 49 South Molton Street, London W1K 5LH.

Bankers

CAF Bank, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4JQ. Co-operative Bank, 4th Floor, 9 Prescott Street, London E1 8BE.

Aldermore Bank PLC, 1st Floor, Block B, Western House, Lynch Wood, Peterborough PE2 6FZ. The Charity Bank Ltd, Fosse House, 182 High Street, Tonbridge, Kent TN9 1BE.

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Theatre de Complicite Education Limited

(Limited by Guarantee)

Solicitors

Hutchins & Co, 85 Lower Clapton Road, London E5 0NP.

Registered office and operation address

14 Anglers Lane, Kentish Town, London NW5 3DG.

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Theatre de Complicite Education Limited

(Limited by Guarantee)

Year ended 31 March 2022

The Trustees present their annual report together with the financial statements of the charity for the year ended 31 March 2022, which are also prepared to meet the requirements for a directors' report and accounts for Companies Act purposes.

The reference and administrative details set out on page 1 forms part of this report. The financial statements 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 to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

PRINCIPAL ACTIVITY

The principal activity of the Company during the year was the promotion of education and performance in the arts and in particular theatre. The company trades under the name "Complicité".

STRUCTURE, GOVERNANCE, MANAGEMENT

Governing Document

Theatre de Complicite Education Limited is a company limited by guarantee governed by its Memorandum and Articles of Association dated 28 June 1991. It is registered as a charity with the Charity Commission.

Organisation

Executive leadership was provided by Executive Director Amber Massie-Blomfield working alongside Artistic Director Simon McBurney and the staff team.

The Board of Trustees administers the charity. The Executive Director has delegated authority for operational matters including finance, business, organisational planning, partnership development and general management and works in conjunction with Artistic Director Simon McBurney on the Company’s creative direction.

Complicité is committed to employing the most skilled people in the sector. Rates of pay are benchmarked against pay levels in other charities of a similar size operating in the arts sector. Staff welfare is of the upmost importance and staff are provided with the opportunity to engage in training, social events and away days.

Appointment and training of Trustees

Trustees are selected for their areas of expertise and knowledge of specific disciplines, and are proposed by current Trustees. Complicité is committed to a diverse board that represents the full scope of its work and audiences. Currently the Trustees are 33% female and 17% Global Majority. We ran a recruitment process in early 2022, which will increase the levels of representation from April 2022 to 38% female and 38% Global Majority. On appointment trustees are provided with an Induction Pack, which outlines the function of the Board, the Company’s financial position and the planned programme of work. Trustees are offered training as required.

Continuing Professional Development & Mentoring

Complicité is committed to offering its employees CPD opportunities. In 21/22 training included: Disability Access, Mental Health First Aid, International Touring & Environmental Responsibility, Charity Finance Group Annual Conference.

The Company continues to network with peers via the International Performing Arts Group and the Producing and Touring Forum. In 21/22 we became Co-Chair of the International Touring & Sustainability Group exploring ways of touring responsibly in line with the Theatre Green Book.

Some staff members also act as trustees of external arts organisations including Trowbridge Town Hall, Rhum and Clay and Company of Others.

Equality

Complicité provides equality of opportunity and equal treatment as an integral part of good practice. Its practices ensure that employees, freelancers, Trustees, and customers are not discriminated against on any grounds including age, disability, race, sex, religion or cultural beliefs, gender reassignment, marital status and civil partnerships, sexual orientation, pregnancy and maternity. One member of staff is registered disabled.

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Theatre de Complicite Education Limited

(Limited by Guarantee)

Year ended 31 March 2022

It also supports employees, freelancers and Trustees, in not tolerating any inappropriate, violent or abusive behaviour from colleagues, other organisations or customers.

Fair and Equal Pay Policy

Complicité is committed to the principle of fair and equal pay and to working with trade unions to act to promote and implement fair and equal pay. As a member of UK Theatre, it adheres to agreements with BECTU, Equity, SOLT, the Writers’ Guild of GB and other relevant trade unions and associations with regards salaries, fees and subsistence. Complicité recognises that women and men in the workforce should receive equal pay for work of equal value and that this principle is enshrined in both UK and European law. It aims to ensure that its pay system is free of bias. Fairness and equality across gender, age, race and disability are integral to its values and send a positive message on diversity and equality to managers, employees, potential employees, partners and customers and enhance productivity, efficiency and morale.

Risk Management

The Trustees have considered and sought to quantify the major operational risks the company faces in meeting the objectives as well as measures taken to mitigate those risks. Although many restrictions were relaxed COVID19 continued to impact with some projects cancelled or delivered by alternative means, including online. The risk register was updated at January 2022 and the principal risks and uncertainties, in both likelihood and impact were identified as follows:

Category Risk Risk Management
Artistic Brexit impacts on artistic collaborations
by limiting freedom of movement &
making international partnerships
difficult.		 Contribute to sector lobbying of Government.
Maintain adequate reserves to support
international collaboration.
Artistic Ongoing impact of the pandemic on
partners being willing/able to work with
us		 Maintain strong relationships with venue
partners for both signature & Developed With
work. Look to overseas venues with larger
budgets, speak to partners early so they
have sufficient planning time.
Touring/
Financial		 COVID-19 impacts on future touring
plans as venues/partners are unable to
commit to co-production and/or
presentation of our work.		 Long term planning to allow venues time to
budget for our work; look to international
partners better able to provide support.
Financial Target EAL schools struggle to pay for
our programmes.		 Approach funding partners to subsidise
programmes, with harder-to-reach schools
charged only a nominal fee.
Organisational Conflict between our artistic vision and
our environmental goals		 Seek ways to integrate sustainability into the
dramaturgy of our work, provoking thoughts
around this from the outset. Draw freelance
creative team into the environmental
consideration at the outset of any project.
Organisational Conflict between international touring
model and our environmental goals		 Follow Theatre Green Book guidance. Lead
the sector in discourse around how this
conflict might be resolved and use this to
stimulate a new working model.

OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT

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 (PB2)'.

The objectives of the charity are:

� To advance education by establishing, promoting, equipping, organising and managing educational workshops in the promotion of the theatre and the arts.

� To present/promote the production of plays, operas, variety performances, concerts, dramatic, musical and artistic performances and exhibitions for the public benefit.

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Theatre de Complicite Education Limited

(Limited by Guarantee)

Year ended 31 March 2022

The charity's general aim is to contribute to the quality, vitality and creativity of the performing arts, especially theatre, through the excellence and inventiveness of its work. To achieve this and remain at the forefront of UK theatre it makes performance, digital and participatory work, educational initiatives, and professional development opportunities that defy expectations, and continues to seek out new audiences and new ways of engaging those audiences.

This was the final year of our 2018-2022 Business Plan, which included the following aims:

  1. Produce work by Artistic Director Simon McBurney that continues to innovate and push the boundaries of theatre.

  2. Support the development of Artists, responding to the needs and context of each relationship, to extend their practice and our own.

  3. Grow our Creative Engagement Programme to broaden and deepen our engagement, particularly with schools and with under-represented groups across our communities.

  4. Extend our audience reach, both through our artistic work and through an integrated approach to communication, embedding the innovative use of technology and digital platforms.

  5. Embed diversity and representation at all levels – within the core Company, our collaborators, participants and audiences.

  6. Develop a sustainable business model that will support the Company into the future.

COVID-19 continued to impact the delivery of our programme, with a planned tour of The Encounter curtailed as venues managed the backlog of shows and a reduced schools tour for our A-Level Drama pieces. We did, however, focus on the research and development for our next signature production; pilot new education projects and deliver a successful digital performance Can I Live? enabling us to trial a ‘Pay what you decide’ model and explore the future of digital distribution for the company.

REVIEW OF ACTIVITIES, ACHIEVEMENTS AND PERFORMANCE

Creative Engagement

Breaking Point was an engagement project that ran alongside Can I Live? (see performance section). A weeklong project, with 12 young people of Bangladeshi Heritage aged 13-17 years from Tower Hamlets, it was run in partnership with Half Moon and was designed to empower the participants to stage their own acts of creative activism.

“My biggest takeaway from this week was how important community is in making an impact. And how interconnected the conversations on race / ableism / sexism intersect with sustainability and climate change” young participant

The Can I Live? film was offered to UK secondary schools in response to feedback that the conversation around the climate crisis often lacks the inclusion of climate justice. We supported schools to put the messages from Can I Live? at the forefront of their teaching. It has also been screened at schools in Germany, Netherlands, USA and Australia.

“Powerful, innovative, engaging, like nothing we've seen before! As part of their E-assessment, these Grade 11 students will now be creating their own plays, inspired by Can I live? - and are super excited to get started.”

Complicité does A-Level Drama saw a group of long-standing Complicité Associates devise two pieces under A-Level Drama exam conditions; to experience it from the students’ perspective and to demystify the process of devising for teachers and pupils. The performances and a Q&A toured to three schools (the remaining were cancelled due to Covid-19) and the feedback from teachers and students was extremely positive:

“The project is a godsend for Drama teachers as it is so bespoke and in tune with what they must guide the students to do. I don’t know of any other company which does this .” Teacher

Alongside this a 30-minute film was created to share our working processes practical ideas to inspire students and teachers, as well as to support their learning.

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Theatre de Complicite Education Limited

(Limited by Guarantee)

Year ended 31 March 2022

“I just want to say how incredible this resource is! I wish every theatre company were as clever and as playful with approaching outreach work with college students as Complicité have been - the Complicité does A-Level documentary was so inspiring and has gripped my students already.” Teacher

Other engagement work included:

Projects/Performances/R&D

Can I Live?

Following a year of R&D and online read-throughs we presented our made-for-digital piece Can I Live? by ‘Developed With’ artist Fehinti Balogun. It is a vital digital performance about the climate catastrophe and a thought-provoking, musical call-to-arms, using a score of hip-hop, jazz, and sound design to make a nuanced, complicated, science-based exploration of climate justice accessible to a wide audience.

‘As innovative as any piece of theater to emerge during Covid-19’ New York Times

The piece emerged from the activism work Fehinti undertook with XR, and shares the story of his journey into eco-activism, looking critically at the lack of global majority perspectives in mainstream British climate activism. It featured prominently in the programme of COP26, the only theatre piece as part of the official programme. Soon afterwards we held a rapid response event at the Roundhouse, platforming the voices of Indigenous artists who had been excluded at the COP26 conversation.

Can I Live? toured to ten UK venues and was hosted on their websites to an audience of c8.5k people. It encouraged our partner organisations to examine their practice, particularly around digital hosting, climate and racial justice. Many long-term opportunities have arisen from the film, including a 2022/23 distribution strategy will see it play in community settings across the world, accompanied by talks and social/dining events. We are in discussions with Netflix for a major online distribution, and we have begun preparations for a follow-up feature film. Our ‘Developed With’ programme supports under-represented artists to develop ambitious devised work and this work has raised Fehinti Balogun’s profile, giving talks and appearing on panel events, such as the Creative Collation Event chaired by Nicholas Serota. The film has also leveraged significant funding as part of the British Council’s UK/Australia Season, with it programmed to appear at the Adelaide Festival and for First Nations audiences at the Sydney Opera House.

Alongside the film we delivered online workshops, talks and resources connecting activists with Global Majority audiences, designed to support finding their own routes into activism.

‘ It helped me realise I’m not alone in this cloud…’ workshop participant

New Signature Production R&D

We have secured the rights to adapt for the stage Olga Tokarczuk’s novel Drive Your Plow Over the Bones of the Dead as our next signature production. Three weeks of R&D took place, bringing together award-winning creatives to explore its themes and ideas and many of our UK and international venue partners are keen to invest as co-producers.

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Theatre de Complicite Education Limited

(Limited by Guarantee)

Year ended 31 March 2022

Crystal Pite & Nederlands Dans Theater

A unique, 3-year long, collaboration with world-renowned choreographer Crystal Pite that began with Crystal and Artistic Director Simon McBurney exchanging ideas reflecting on their fears and cautious hopes for the age we are living in, and how artists can meaningfully create in the face of mass destruction. Three new works will be created, each developed in response to the last, with the first of the triptych premiering in May 2022.

Other projects during the year included:

DIVERSITY AND REPRESENTATION

The Company continued to actively embed diversity across all areas of the organisation. Can I Live? saw us diversify the artists and audiences who we work with and reach, and enriched our work through the lived experience of young artists from diverse backgrounds. The project expands and diversifies the base of creatives from which we can draw upon in the future, and the subject matter assists us to engage new audiences. Providing a platform for these artists is a crucial aspect of our work, giving space to voices from the Global Majority (GM), who are written out of the narrative around climate activism.

In 21/22 Global Majority artists, trustees and audiences made up the following:

We also worked on increasing access for D/deaf and disabled people. In September ’21 we held access training for our core team, led by an Inclusive Practices specialist. Our wider creative family, including Associates who deliver our training programmes, undertook paid workshops on access in collaborative and creative processes, ensuring best practice is embedded across all we do. Two core staff undertook mental health first aid training to ensure we can properly support team members in need.

We stay on top of diversity and inclusion best practice through our involvement in networks including the Producing & Touring Network and AMA’s Diversity Academy. We were a supporting organisation that coordinated the creation of the ‘Anti-Racism Tour Rider’ published in Spring 2021. We have made a commitment to undertake key measures outlined in the INC Arts Unlock Toolkit, designed to embed anti-racism, diversity and localism in the fields of Hire, Work & Care and Leadership.

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Theatre de Complicite Education Limited

(Limited by Guarantee)

Year ended 31 March 2022

DIGITAL DEVELOPMENT

Complicité has always embraced new technological innovations, and the pandemic has advanced our thinking in terms of the possibilities of digital distribution. There is a huge appetite for experiencing our work online. In 2010 more than 22,000 people watched the NT Live broadcast of A Disappearing Number in cinemas, in 2016 67,500 saw The Encounter live stream free of charge, and the re-broadcast in 2020 had over one million views across multiple platforms. Can I Live? is our first project that has been led by our digital distribution methodology – sitting in the space between a theatre performance and a film, it has provoked us to consider the huge creative potential of this new medium. Beyond this, through our ‘digital tour’ in Autumn 21, we explored how the format enabled us to connect with Global Majority audiences that might never attend a live show, and tested a ‘Pay What You Decide’ ticketing model. We also held one-to-one feedback meetings with creatives and programmers during our evaluation and for the first time we ran an online box office, which gave us direct access to data and audience insights. All of this will inform our digital practice going forward.

In January 2022 we created a special digital offer for UK and international schools and colleges, providing online access to the film of our production A Disappearing Number and our new documentary Complicité Does A- Level Drama . To date, more than 40 schools have requested access.

In addition to those highlighted in the Online/Performance/R&D section, we also achieved:

ENVIRONMENTAL SUSTAINABILITY

We were selected to take part in Arts Council England and the Development Platform (Denmark)’s International Touring and Environmental Responsibility Programme between January and March 2022, and our learning through this will feed into our 22/23 activity.

Since 2019 we have been part of Julie’s Bicycle’s Accelerator programme, receiving support and training to improve the sustainability of our practices and document our journey in reducing our impact. Through our productions, in 21/22 we have committed to the following steps:

Can I Live? was our pilot project in this programme. We worked with Reset Scenery who recycle used sets, and made our set from 100% recycled materials. 43% of all the costume was sourced from re-used materials, but 100% of it will be re-used with none going to landfill. 56% of the props were from reused materials and 100% were re-used. We used zero emission transport for the creative team within London.

We measured the footprint of the making of the production, from the rehearsal period onwards. We measured the online meetings, transport, hotels and energy usage at our rehearsal studio and The Barbican where we filmed. The total footprint figure will be used to benchmark reductions in future comparable projects.

For Complicité does A-level Drama we reached Advanced, the Theatre Green Book’s highest level of sustainable practice.

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Theatre de Complicite Education Limited

(Limited by Guarantee)

Year ended 31 March 2022

FUTURE PLANS

Creative Engagement:

Production

Artist Development

Online/Digital

Other

FINANCIAL REVIEW

The Company reports a deficit on the year of £141,670 on a turnover of £871,041. Overall income increased by 5%, supported by a Culture Recovery Fund grant from Arts Council England (£132k) that boosted our ability to recover from the pandemic and increase our programme of activity as reflected in our charitable activity income, which increased from 5% of turnover in 20/21 to 23% in this financial year. We also received an additional legacy contribution.

Unrestricted individual donations increased by 17% as we transitioned from the pandemic. 2022 will see us focus on a refreshed supporter scheme based on feasibility study recommendations. Creating our new large-scale

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Theatre de Complicite Education Limited

(Limited by Guarantee)

Year ended 31 March 2022

production presents us with the ideal opportunity to cultivate new supporters. We also engaged two freelance fundraisers to focus on grant bids to trusts and foundations. This will mostly come to fruition in 22/23 with 94% of our target grant income achieved to date.

The principal source of funding continued to be from Arts Council England NPO grant (£370,313), which represents 54% of the total Donations and Legacies.

Donated services were significantly higher this year thanks to in-kind support provided by the Barbican Centre and equipment suppliers for the filming of Can I Live? our main production of the year. This is reflected in the increased tech and hires expenditure in charitable activities.

We invested £97k in five weeks of research and development for the new signature production and our education programme restarted with schools work and new project A-Level Drama , which contributed to a total spend of £83k.

Although support (core) costs are showing a decrease, the 20/21 accounts included a large one-off pension contribution to the Artistic Director and therefore, in real terms the core costs have increased by c£56k. This is mainly due to building repairs, IT purchases, utility charges and investment in freelance fees to support the core team (as a result of an organisational review) in the areas of book-keeping, tour booking, fundraising and project coordination. Overheads continue to be scrutinised particularly as we head into the challenge of energy increases and general cost of living.

Prepayments and accruals make up the majority of the Company’s debtors. Deferred income of £42,225 represents £40k grant funding from John Lyon’s Charity and the National Lottery Community Fund and £2,225 workshop fee.

Our total reserves level is £1,374,035, which includes £795,000 of designated reserves. Cash in bank and in hand is £1,311,140. All Restricted Funds were expended in the financial year.

RESERVES POLICY

The company reserves are split across restricted, designated and general, the latter otherwise referred to as free reserves.

Reserves, accumulated through prudent planning and effective budget management, enabled the Company to weather the storm of Covid-19 and remain financially stable. With the Company working towards a new business model, the Trustees have reviewed the reserves policy by reviewing existing funds, assessing future income streams and likely future expenditure and examining past operational trends and risks facing the organisation.

The following designated fund levels have been set to provide assurance that the annual programme can continue to be delivered:

Artist development £100k – an on-going reserve to support the Company’s new Ideas Development Programme Mudlarks . The fund will provide a springboard for the pilot project. The amount reserved reflects the element of uncertainty while rolling out the pilot.

Research and Development £75k – an on-going reserve. This is the essential lifeblood of the Company’s creative output and the reserve ensures that there are resources to fund unbudgeted R&D initiatives to explore new ideas, either for signature productions, or artistic projects that the Company develops an interest in.

Creative space partnership £250k – a one-off reserve to explore the possibility of developing an onsite creative space at Hawkwood College. This would cover the Company’s share of the investment to establish the space.

Creative engagement £70k – an on-going reserve to cover all creative engagement costs in the first year of the new plan (resulting from the Education Enquiry) while an income stream is established going forward.

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Theatre de Complicite Education Limited

(Limited by Guarantee)

Year ended 31 March 2022

Production £300k – an on-going reserve. New signature productions require substantial working capital to fund lengthy development periods and the mounting of the initial tour. This reserve is especially important in today’s environment considering the difficulties and funding challenges that venues will face when they reopen after the pandemic. This amount enables us to be confident we have the funds required to move forward with the next major show.

The total of designated reserves is £795k, with a target free reserve of £270k, which covers six months of budgeted operating expenditure required to provide a working capital cushion to cope with the unpredictability of our income flow. This ensures continued financial stability and acts as a safeguard against continuing economic uncertainty.

The Company recognises that its annual programme fluctuates and therefore, reserves are monitored bi-annually by the Finance Manager and Treasurer. Reserves are reported monthly in the management accounts and any conclusions from regular monitoring will be reported and recorded in board meeting minutes. The Trustees review the reserve amounts required to fulfil its continuing obligations on an annual basis.

Statement of Trustees Responsibilities

The Trustees (who are also directors of Theatre de Complicite Education 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 Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable Company and of the incoming resources and application of resources, including the income and expenditure, of the charitable Company for the year. In preparing these financial statements, the Trustees are required to:

The Trustees 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 the 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 other irregularities.

In so far as the Trustees are aware at the time of approving our Trustees' annual report:

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Theatre de Complicite Education Limited

(Limited by Guarantee)

Year ended 31 March 2022

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable Company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Small Company Exemptions

This report is prepared in accordance with the provisions of the Companies Act 2006 relating to small companies. This report was approved by the Board of Trustees on 11 October 2022 and signed on its behalf by

tom morris

Tom Morris (Chair) Trustee

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Independent Auditors' Report to the Members of Theatre de Complicite Education Limited

Opinion

We have audited the financial statements of Theatre de Complicite Education Ltd (the 'charitable company') for the year ended 31 March 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards 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 the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the trustees annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 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 otherwise appears to be materially misstated. If we identify 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 there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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Independent Auditors' Report to the Members of Theatre de Complicite Education Limited

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement set out on pages 11 & 12, the trustees (who are also the directors of the charitable 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 view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise 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 statements.

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Independent Auditors' Report to the Members of Theatre de Complicite Education Limited

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 respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Discussions with and enquiries of management and those charged with governance were held with a view to identifying those laws and regulations that could be expected to have a material impact on the financial statements. During the engagement team briefing, the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the entity.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the FRC's website at: https://www.frc.org.uk/auditors/audit-assurance/auditor-s-responsibilities-for-the-audit-of-the-fi/description-ofthe-auditor%E2%80%99s-responsibilities-for. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 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 company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Mr Richard Nelson FCCA (Senior Statutory Auditor) For and on behalf of Breckman & Company Ltd Statutory Auditors Chartered Certified Accountants

49 South Molton Street London W1K 5LH

11 October 2022

15

Unrestricted
Restricted
2022
Unrestricted
Restricted
2021		 funds
funds
Total
funds
funds
Total		 Notes
£
£
£
£
£
£		 Income and endowments from:
2		 Donations and legacies - page 17
683,013
-
683,013
721,960
-
721,960		 Charitable activities: Theatre - pages 17 - 18
82,419
101,682
184,101
45,694
41,182
86,876		 Investments - page 18
3,927
-
3,927
6,743
-
6,743		 Other - Theatre Tax Relief - page 18
-
-
-
15,000
-
15,000		 Total
769,359
101,682
871,041
789,397
41,182
830,579		 Expenditure on: Raising funds: Fundraising - page 18
17,790
-
17,790
26,152
-
26,152		 Charitable activities: Theatre - pages 19 - 20
862,360
132,561
994,921
700,533
10,303
710,836		 Total
880,150
132,561
1,012,711
726,685
10,303
736,988		 Net income / (expenditure)
3
)
(110,791
)
(30,879
)
(141,670
62,712
30,879
93,591		 Reconciliation of funds: Total funds brought forward
1,484,826
30,879
1,515,705
1,422,114
-
1,422,114		 Total funds carried forward
15, 16
1,374,035
-
1,374,035
1,484,826
30,879
1,515,705		 The notes on pages 25 to 35 form an integral part of these financial statements. The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing 16

Theatre de Complicite Education Limited

(Limited by Guarantee)

Year ended 31 March 2022

Income from donations and legacies
Grants
COVID-19 Emergency funding
Arts Council England
- Culture Recovery Fund
HMRC Coronavirus Job Retention Scheme
Arts Council England
- NPO funding
Joseph Strong Frazer Trust
Donations
Aficionados/Accomplices/Allies
Gift Aid tax reclaimed
Legacy
General
Donations in kind
Income from charitable activities
Theatre
Theatrical income
Box office/performance fees
Recharges
Workshop fees
Management fees
Programmes/merchandise
Licensing rights/royalties
Education projects
Books		 2022
£
132,229
-
370,313
-
9,497
1,354
94,583
7,082
67,955		 £
132,229
370,313
502,542
180,471
683,013
43,488
3,093
24,263
2,190
3
335
8,295
752
82,419		 2021
£
-
2,500
370,313
2,000
14,000
1,750
310,000
5,232
16,165		 £
2,500
372,313
374,813
347,147
721,960
27,000
-
4,649
500
85
4,663
7,454
1,343
45,694

17

Theatre de Complicite Education Limited

(Limited by Guarantee)

Year ended 31 March 2022

2022
£
Income from charitable activities (continued)
Project specific funding
Grants
Arts Council England
41,182
Calouste Gulbenkian
19,500
British Council
41,000
101,682
Investment income
Bank interest
3,927
Other
Theatre Tax Relief (TTR)
-
Expenditure on raising funds
Fundraising costs
Salaries
17,790
Accomplices/Allies
-
17,790		 2021
£
41,182
-
-
41,182
6,743
15,000
24,500
1,652
26,152

18

Theatre de Complicite Education Limited

(Limited by Guarantee)

Year ended 31 March 2022

Expenditure on charitable activities
Theatre
Production/touring costs
Production fees
Sets
Costumes
Props
Sound/video/lighting
Travel/transport/accommodation
Hospitality
Venue/tech hires/contras
Rehearsals
Access
Sustaiinability
Royalties
Legal/consultancy
Sundry
Projects/online content
The Encounter live stream
Online talks
ETRMD
Dreamscape
Ways of Listening
The Walk
People's Palace Projects film
COP London event
Research and development costs
Signature Production
Richard III
Fehiniti Balogun
Associates
Developed With
Drive Your Plow Over The Bones Of The
Carried forward		 2022
£
78,902
6,458
656
119
59,126
9,999
3,409
56,700
5,322
1,400
120
1,350
300
439
-
-
-
400
12,697
5,017
2,000
577
-
-
-
20,000
10,805
96,827		 £
224,300
20,691
127,632
372,623		 2021
£
15,700
-
-
-
-
75
-
-
14,000
-
-
10,127
-
-
3,178
3,545
2,500
-
-
-
-
-
50,483
3,836
20,087
4,928
-
-		 £
39,902
9,223
79,334
128,459

19

Theatre de Complicite Education Limited

(Limited by Guarantee)

Year ended 31 March 2022

Brought forward
Education costs
Workshop fees/expenses
Breaking Point
Devising in the Secondary Classroom
A-Level Drama
Voices of the Earth
Pegasus Theatre Company
Education Enquiry
Can I Live? engagement
Marketing/publicity costs
Advertising/archive
Digital
Print/design
Audience development
Website development/maintenance
PR
Support costs - pages 21 - 22
Governance costs - pages 21 - 22		 2022
£
25,321
5,636
5,156
34,340
-
4,303
-
8,830
2,239
1,630
3,375
4,059
5,641
1,500		 £
372,623
83,586
18,444
474,653
509,868
10,400
994,921		 2021
£
5,092
-
-
-
6,017
150
1,341
-
-
-
3,726
426
1,979
-		 £
128,459
12,600
6,131
147,190
553,646
10,000
710,836

20

Theatre de Complicite Education Limited

(Limited by Guarantee)

Year ended 31 March 2022

Support and governance costs
Support costs
Office overheads
Office rent
Rent - ground floor
Rates
Utilities
Insurance
Storage
Repairs
Equipment costs/charges
Computer software/maintenance
Cleaning
Sustainability
Depreciation of office equipment
Administration costs
Salaries
Fees
Social security costs
Staff pension costs
Staff training
Staff welfare
Staff recruitment
Travel/transport
Hospitality
Printing/postage/stationery
Subscriptions/licences
Irrecoverable VAT
Sundry
Professional/financial
Legal/professional/consultancy
Bank charges
Bad debts
Deficit on foreign exchange
Carried forward		 2022
£
30,000
27,750
4,659
10,135
10,096
8,947
3,165
20,000
4,490
1,008
1,074
2,375
215,417
96,830
19,972
18,325
1,460
114
2,345
4,471
855
671
5,115
10,856
6,898
2,246
540
-
54		 £
123,699
383,329
2,840
509,868		 2021
£
30,000
27,000
4,659
7,299
9,737
8,507
68
19,671
1,077
595
1,636
991
199,795
69,350
19,088
111,537
1,490
257
7,774
1,267
889
917
4,660
18,267
2,310
4,213
245
151
196		 £
111,240
437,601
4,805
553,646

21

Theatre de Complicite Education Limited

(Limited by Guarantee)

Year ended 31 March 2022

Brought forward
Governance costs
Accountancy
Audit		 2022
£
3,900
6,500		 £
509,868
10,400
520,268		 2021
£
3,500
6,500		 £
553,646
10,000
563,646

22

Theatre de Complicite Education Limited

(Limited by Guarantee)

Balance Sheet 31 March 2022

Notes
Fixed assets
Tangible assets
8
Investments
9
Current assets
Debtors
10
Cash at bank and in hand
11
Liabilities
Creditors: amounts falling
due within one year
12
Net current assets
Total assets less current
over total assets
The funds of the charity:
Unrestricted funds
15
- General fund
- Designated funds
Restricted funds
16
Total charity funds		 2022
£
159,318
1,311,140
1,470,458
)
(97,810		 £
1,386
1
1,387
1,372,648
1,374,035
579,035
795,000
1,374,035
-
1,374,035		 2021
£
363,656
1,217,455
1,581,111
)
(66,401		 £
994
1
995
1,514,710
1,515,705
690,526
794,300
1,484,826
30,879
1,515,705

The trustees have prepared these accounts in accordance with section 398 of the Companies Act 2006 and section 138 of the Charities Act 2011. These accounts are prepared in accordance with the special provisions of Part 15 of the Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.

The accounts were approved by the Board of Trustees on 11 October 2022 and signed on its behalf by

tom morris Pete Flamman Tom Morris (Chair) Peter Flamman Trustee Trustee

The notes on pages 25 to 35 form an integral part of these financial statements.

23

Theatre de Complicite Education Limited

(Limited by Guarantee)

Cash Flow Statement for the year ended 31 March 2022

Notes
Cash flows from operating activities
21
Cash flows from investing activities:
Dividends, interest and rents from investments
Purchase of property, plant and equipment
Net cash provided by investment activities
Change in cash and cash equivalents in the reporting period
Cash and cash equivalents at the beginning of the reporting
period
Cash and cash equivalents at the end of the reporting
period		 2022
£
92,525
3,927
)
(2,767
1,160
93,685
1,217,455
1,311,140		 2021
£
)
(277,614
6,743
)
(1,982
4,761
)
(272,853
1,490,308
1,217,455

24

Theatre de Complicite Education Limited

(Limited by Guarantee)

Notes to The Financial Statements for the year ended 31 March 2022

1. Accounting policies

1.1. Basis of preparing the financial statements

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (issued October 2019) - (Charities SORP (FRS 102)) and the Companies Act 2006.

The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

The company and its subsidiary comprise a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group financial statements.

The financial statements present information about it as an individual undertaking and not about its group.

1.2. Incoming resources

All incoming resources are included in the Statement of Financial Activities when:

- Donations and legacies

Grants/donations are recognised in incoming resources in the year in which they are receivable, except as follows:

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.

25

Theatre de Complicite Education Limited

(Limited by Guarantee)

Notes to The Financial Statements for the year ended 31 March 2022

- Charitable activities

Theatre income - income from box office, performance fees and sundry other theatrical income is included in incoming resources in the period in which the relevant show takes place.

Project specific funding - when donors specify that donations and grants are for particular restricted purposes, which do not amount to pre-conditions regarding entitlement, this income is included in incoming resources of restricted funds when receivable.

- Donated services and facilities

Donated services or facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. On receipt, donated services and facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit 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 reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

1.3. Expenditure

All expenditure is included on an accruals basis inclusive of any VAT which cannot be recovered and is recognised when:

- Costs of raising funds

Costs incurred in attracting donations, and those incurred in trading activities that raise funds.

- Charitable activities

Theatre production costs - costs incurred in production and running of productions toured in the year.

- Support costs

The administrative and overhead costs associated with running the office from which the company operates as well as governance costs. Support costs are wholly attributable to theatre production costs.

- Governance costs

Costs associated with the constitutional and statutory requirements of the charity.

26

Theatre de Complicite Education Limited

(Limited by Guarantee)

Notes to The Financial Statements for the year ended 31 March 2022

1.4. Tangible fixed assets and depreciation

Individual fixed assets costing £500 or more are capitalised at cost.

Depreciation is provided at annual rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:

Furniture/fittings - 20% on cost Office equipment - 50% on cost Touring equipment - 50% on cost

1.5. Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.6. Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of and trade discounts due.

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.8. Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

1.9. Leasing

Rentals payable under operating leases are charged to the income and expenditure account on a straight line basis over the lease term.

1.10. Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised as expenditure when due.

1.11. Fund accounting

Funds held by the charity are either:

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

27

Theatre de Complicite Education Limited

(Limited by Guarantee)

Notes to The Financial Statements for the year ended 31 March 2022

1.12. Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated at the date of the transactions. All gains and losses on exchange are written off in the income and expenditure account.

1.13. Financial Instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value, and subsequently measured at their settlement value.

1.14. Significant Accounting Estimates and Judgements

In determining the carrying amounts of certain assets and liabilities, the charity makes assumptions of the effects of uncertain future events on those assets and liabilities at the balance sheet date. The charity's estimates and assumptions are based on historical experience and expectation of future events and are reviewed annually.

2. Incoming resources

The total incoming resources for the year has been derived from the principal activity, including an exceptional legacy from a one-time supporter of the company (more details in the Trustee's Report). The proportion of incoming resources derived from outside the UK amounted to 3% (2021 - 1%).

3. Net income/(expenditure) for the year is 2022 2021
stated after charging: £ £
Depreciation of tangible fixed assets 2,375 991
Deficit on foreign exchange 54 196
Auditors' remuneration
- external audit 6,500 6,500
- other services 3,900 3,500

4. Trustees' emoluments and reimbursed expenses

The trustees received no remuneration during the year (2021 - £nil).

The aggregated amount reimbursed to trustees during the year was £nil (2021 - £nil).

28

Theatre de Complicite Education Limited

(Limited by Guarantee)

Notes to The Financial Statements for the year ended 31 March 2022

5.
Staff costs and numbers
Staff costs
Salaries and wages
Social security costs
Pension costs		 2022
£
246,516
19,972
18,325
284,813		 2021
£
230,526
19,088
111,537
361,151

No employee earned £60,000 or more during the year (2021 - nil).

The key management personnel of the charity comprise the trustees and the senior management team. The total employee benefits of the key management personnel of the charity were £119,554 which includes creative director fees and pension contributions (2021 - £202,600).

Staff numbers

The average numbers of employees (including casual and part time staff) during the year was made up as follows:


Production/touring
Support (including fundraising)		 2022
Number

2
5
7		 2021
Number
1
6
7

6. Pension costs

The company operates a defined contribution pension scheme in respect of its employees. The scheme and its assets are held by independent managers. The company also contributes to the Equity Pension Scheme for performers and stage managers. The pension charge represents contributions due from the company and amounted to £18,325 (2021 - £111,537).

7. Corporation Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

29

Theatre de Complicite Education Limited

(Limited by Guarantee)

Notes to The Financial Statements for the year ended 31 March 2022

8. Fixed assets - tangible assets Furniture/ Office Touring
fittings equipment equipment Total
£ £ £ £
Cost
1 April 2021 2,438 21,821 2,045 26,304
Additions - 2,767 - 2,767
31 March 2022 2,438 24,588 2,045 29,071
Depreciation
1 April 2021 2,437 20,829 2,044 25,310
Charge for year - 2,375 - 2,375
31 March 2022 2,437 23,204 2,044 27,685
Net book values
31 March 2022 1 1,384 1 1,386
31 March 2021 1 992 1 994
9. Fixed Asset Investments Subsidiary
undertakings
shares
£
Cost
1 April 2021 /
31 March 2022 1
Net book values
31 March 2022 1
31 March 2021 1

30

Theatre de Complicite Education Limited

(Limited by Guarantee)

Notes to The Financial Statements for the year ended 31 March 2022

9.1. Holdings of 20% or more

The company holds 20% or more of the share capital of the following company:

Country of
registration Shares held
Company or incorporation Class %
Subsidiary undertaking
Complicite Enterprises Limited United Kingdom Ordinary 100%
Registered number 05024565 EW - England & Wales

The Company remained dormant during the year. Its aggregate amount of capital and reserves and the results of this undertaking for the last relevant financial year were as follows:

Capital and reserves
£
Complicite Enterprises Limited
1
10.
Debtors
Trade debtors
Other debtors
Prepayments and accrued income
11.
Cash at bank and in hand
Short term deposits
Cash on deposits
Cash at bank
Cash in hand		 Profit for the year
£
-
2022
2021
£
£
9,105
342
9,760
5,505
140,453
357,809
159,318
363,656
2022
2021
£
£
200,000
200,000
454,184
446,715
655,987
569,738
969
1,002
1,311,140
1,217,455		 Profit for the year
£
-
2022
2021
£
£
9,105
342
9,760
5,505
140,453
357,809
159,318
363,656
2022
2021
£
£
200,000
200,000
454,184
446,715
655,987
569,738
969
1,002
1,311,140
1,217,455
363,656
2021
£
200,000
446,715
569,738
1,002
1,217,455

31

Theatre de Complicite Education Limited

(Limited by Guarantee)

Notes to The Financial Statements for the year ended 31 March 2022

12.
Creditors: amounts falling due
within one year
Trade creditors
Other taxation/social security
Other creditors
Accruals
Deferred income (note 13)
13.
Deferred income
Balance at 1 April 2021
Amount released to incoming resources
Amount deferred in the year
Balance at 31 March 2022		 2022
£
16,710
5,982
2,956
29,937
42,225
97,810		 2021
£
12,694
5,068
2,110
19,279
27,250
66,401
£
27,250
)
(27,250
42,225
42,225

Deferred income relates to grant and fee income received in advance.

14. Limited by guarantee

The company is limited by guarantee and does not have a share capital. Each member gives a guarantee to contribute a sum, not exceeding £100, to the company should it be wound up. At 31 March 2022 there were 5 members.

32

Theatre de Complicite Education Limited

(Limited by Guarantee)

Notes to The Financial Statements for the year ended 31 March 2022

15. Unrestricted funds Brought Incoming Outgoing Transfers Carried
forward resources resources forward
£ £ £ £ £
General fund 690,526 769,359 )
(880,150		 )
(700		 579,035
Designated funds:
Creative space partnership 250,000 - - - 250,000
Production 300,000 - - - 300,000
Research & Development 75,000 - - - 75,000
Creative engagement 69,300 - - 700 70,000
Artist development 100,000 - - - 100,000
1,484,826 769,359 )
(880,150		 - 1,374,035

Creative space partnership

The company is exploring the possibility of developing an onsite creative space at Hawkwood College in Gloucestershire. Formerly named 'Building reserve' this one-off fund would cover the company's share of the investment required to establish the space.

Production

New signature productions require substantial working capital to fund lengthy development periods and the mounting of an initial tour. The production reserve allows us to sustain any deficit before recouping costs on subsequent tours.

Research & Development

R & D is the essential lifeblood of the company's creative output. This fund is to ensure the company always has the resources to fund unbudgeted R & D initiatives to explore new ideas, either for signature productions, or artistic projects.

Creative engagement

The creative engagement reserve is set to support creative engagement costs in the first year of the new plan (as a result of the Education Enquiry) while an income stream is established going forward.

Artist development

This fund provides a springboard for Mudlarks, our new two-part artist development programme, enabling the company to run it as a pilot programme for the first year.

33

Theatre de Complicite Education Limited

(Limited by Guarantee)

Notes to The Financial Statements for the year ended 31 March 2022

**16. ** Restricted funds Brought Incoming Outgoing Carried
forward resources resources forward
£ £ £ £
Can I Live? 30,879 85,682 )
(116,561		 -
Ways of Listening - 16,000 )
(16,000		 -
30,879 101,682 )
(132,561		 -

Can I Live?

ACE, British Council and Calouste Gulbenkian project grants to fund Can I Live? a digital performance using original hip-hop and spoken word, that joins actor, theatre maker and activist Fehinti Balogun on a journey into the world of environmental activism.

Ways of Listening

British Council grant towards 'Ways of Listening' a digital project with 10 Algerian artists.

17. Analysis of net assets between funds

General
Designated
funds
funds
£
£
Fund balances at 31 March 2022
are represented by:
Tangible fixed assets
1,386
-
Investments
1
-
Net current assets
577,648
795,000
579,035
795,000		 Total
£
1,386
1
1,372,648
1,374,035

18. Financial commitments

At 31 March 2022 the company had future minimum lease payments under non-cancellable operating leases, with payments falling due as follows:

Due:
Within one year
Between one and five years		 2022
£
76,943
152,685
229,628		 2021
£
73,943
217,628
291,571

34

Theatre de Complicite Education Limited

(Limited by Guarantee)

Notes to The Financial Statements for the year ended 31 March 2022

19. Related party transactions

The company had no related party transactions which require disclosure in the financial statements.

20. Gross Cash Flows

2022
£
Returns on investments and servicing of finance
Interest received
3,927
Capital expenditure
Payments to acquire tangible assets
)
(2,767
21.
Reconciliation of net income/(expenditure) to net cashflow from operating activities
2022
£
Net income/(expenditure) for the
reporting
period
(as
per
the
statement of financial activities)
)
(141,670
Depreciation
2,375
Dividends, interest and rents from investments
)
(3,927
Decrease/(increase) in debtors
204,338
Increase/(decrease) in creditors
31,409
Net cash inflow from operating activities
92,525		 2021
£
6,743
)
(1,982
2021
£
93,591
991
)
(6,743
)
(289,263
)
(76,190
)
(277,614

35