REGISTERED COMPANY NUMBER 01029063 REGISTERED CHARITY NUMBER 1026883 TRAMSHED ARTS Ltd (A company limited by guarantee) ANNUAL REPORT AND FINANCIAL STATEMENTS 31 March 2024 TRAMSHED ARTS Ltd CONTENTS Pages Officers and Advisers Report of the Trustees 2-46 Independent Auditor's Report 46-50 Statement of Financial Activities (including Income and Expenditure Account) 51 Balance Sheet 52 Statement of Cash Flow 53 Notes to the Financial Statements 54-75 TRAMSHED ARTS Ltd OFFICERS AND PROFESSIONAL ADVISERS Trustees V Harrison {ActinglVice Chair, Resigned 25 January 2024) R Ferris (Treasurer) R Cowley K Newns L Pelayo Fernandez A Phillips T Sage J Smith R Thackeray DRay R Wilson Company Secretary B Tomlinson CEO J James (left but not replaced) Ambassadors Bernardine Evaristo OBE Anthony Horowitz OBE Tomi Ogbaro (Young Ambassador) Toyah Wilcox Registered Office The Tramshed 51-53 Woolwich New Road London SE18 6ES Registered Company Number 01029063 Registered Charity Number 1026883 Audltor Sumer Auditco Limited Statutory Auditor 820 The Crescent Colchester Business Park Colchester C04 9YQ Bankers Natwest Bank PIC 4-5 High Street Chelmsford Essex CM1 1FZ TRAMSHED ARTS LTD REPORT OF THE TRUSTEES WELCOME FROM THE CHAIR Tramshed continues to demonstrate its unique and invaluable pla￿ in the hearts ofthe Woolwich community- Earlier in the year we joined together as a community, not only to say thank you 2nd goodbye, but also to celebrate 21 years of outstanding service from Jeremy James as outgoing CEO and Artistic Director. Jeremy's warmth, leadership and tireless commitment will live long in the memory of those who worked with him over his many years of service to Tramshed. His leaving marks a significant mileslone in the timeline of this organisalion. Since his leaving, the team at Tramshed have been determined to build on the strong legacy of his work. There was an evident and clear continuity of Tramshed's excellent work as the baton of leadership was handed over to Bethan Tomlinson as interim Executive Director. She has worked throughout the year with an inspirational level of passion and commitment. I look forward to the consolidation of her position as executive leader of the organisation. As Chair of the board, I place on record my thanks to Bethan and the excellent team that she leads at Tramshed. There have been any number of events and factors taking place globally and nationally that have resulted in enhan￿d challenges for Tramshed in the delivery of its excellent work. Most notably, the cost-of-living crisis and ever-increasing competition for funding support have helped to make for challenging operating conditions. Vvhilst we look forward to the future of Tramshed with excitement and confidence, the operating challenges to maintain the excellent standards and high output of its work cannot be overstated. Throughout this period, Bethan Tomlinson as Interim Executive Director has adeptly negotiated these financial challenges which include issues of cashflow in the short term. She has worked with fellow trustees on the board to ensure the organisation maintains its focus on core values, mission and vision. This, in turn has allowed us to make steady but improving progress as we have navigated our way through the year. Ultimately, we are thankful to the Royal Borough of Greenwich IRBG) for their continued faith and support of Tramshed and the work it does to support our wonderful community. We were of course ecstatic atthe news that RBG had made the decision to commute the status of the original loan, agreed with them in August 2023, to be waived. This latest and very positive development enables the organisation to maintain its confidence in the enduring nature of ils work, given the ongoing and very difficult circumStan￿S that the sector now finds itself in. Tramshed continues to inspire and involve an ever-growing community of stakeholders. This, in turn, has increased the organisalion's mandate to serve our community through its growing community representation, both in our hires and delivery. As Chair, I continue to be buoyed by the growth in visceral engagement that Tramshed enjoys with our community. I'm proud of the way the organisation has maintained both its work and its identity throughout the course of the last year. We are a trusted organisation, working to support, enable and empower a deserving community ever growing in its identity. Roger Wilson, Chair TRAMSHED ARTS LTD REPORT OF THE TRUSTEES The Trustees present their report together with the financial statements of Tramshed Arts Ltd for the year ended 31 March 2024. The report has been prepared in accordance with Part Vlll ofthe Charities Act 2011 and constitutes a directors, report for the purpose of company legislation. The financial statements have been prepared in accordance with the accounting policies set out on pages 51 to 55 of the attached financial statements and comply with the charitable company's Memorandum and Articles of Association, applicable laws, the Companies Act 2006 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 United Kingdom and Republic of Ireland {FRS 102). The Organisation Tramshed Arts Ltd is an independent arts charity and vital community hub. We have made theatre with and for young people since 1971. We have organically grown to work with some of those young people as adults and artists both with and without Disabilities. We have managed the Woolwich Tramshed building since 2009. We offer 3 ways to engage with our team and space: Create - participants take part in Tramshed programmes to do something creative and uplifting Facilitate partners work with us to access space, funding, advice, in their paid and voluntary roles to lead cultural programmes they are passionate about Community- we welcome fully formed activities designed by others for everyone from all walks of life. We offer a space for all, with our in-house programme and partners doing our mosl lo ensure as many people as possible can access crealive and cultural activity. Photo credit.. Aidan Brooks Tramshed Young Company, The Heights (NT Connections) 2023 TRAMSHED ARTS LTD REPORT OF THE TRUSTEES GOVERNANCE, STRUCTURE AND MANAGEMENT Governing Document and Object Tramshed Arts Ltd (formerly Greenwich and Lewisham Young People's Theatre) is a wmpany limited by guarantee (company registration number 01029063) and is registered for charitable purposes with the Charity Commission (charity registration number 1026883). The charitable company is governed by ils Memorandum and Articles of Association and its charitable object is "to advance education for the public benefit by the promotion of the arts, in particular but not exclusively the art of drama" The charitable company is limited by guarantee and accordingly has no share capital. In the event of the charity being wound up, the liability guaranteed by each member is £1. Organisation A board of Trustees, which convenes quarterly, administers the charity and takes overall responsibility for matters of governance, charitable purpose and risk management. A Chief Executive Officer (CEO) is appointed by the Trustees to manage the day-to-day operation of the charity and to deliver the artistic vision. To facilitate effective operations, the Senior Management Team, comprising the CEO and Executive Director, have delegated authority within terms of delegation approved by the Trustees over areas including finance, fundraising, employment, operations and premises. The Senior Management Team are supported by heads of department who take responsibility for managing discrete areas of the company, and who report to the Senior Management Team through regular staff meetings. The charity currently operates with sub-committees nominated by the Board, which sometimes co-opt individuals or experts to look at specific areas of need. This includes a quarterly Finance & General Purposes Group and working committees for recruitment and to progress the capital works, when required. Recruitment and Appointment of New Trustees We regularly review our priorities to ensure our Board of Directors have the skills and experience required by the organisation, and particularly seek Trustees who reflect our demography in Woolwich. A skills audit of Trustees was undertaken in 2022, directors resign and are renewed on a three-year rotation. As set out in the Articles of Association.. The Chair of the Trustees is elected by the board of Trustees., As our key partner, the Royal Borough of Greenwich may nominate a representative to serve as a Trustee to the Board of Trustees or as an observer to the Board of Trustees., The remaining Trustees (a maximum of 12) are elected by the members of the charitable company and serve for a period of 3 years,. and These Trustees have the power to co-opt up to 2 further members to fill specialist roles. TRAMSHED ARTS LTD REPORT OF THE TRUSTEES Induction and Training of New Trustees All Trustees undergo an informal induction session and are presented with an induction pack. We hold an annual board away day to deepen understanding of the organisation, its strategic direction and to help identify training needs. Upon declaration of their interest to be a Trustee, they meet with the Chair, Chief Executive and Company Secretary for briefing on the organisation and the responsibilities of Trustees, prior to being invited to attend a meeting of Trustees as an observer. Related Parties The charity has a close relationship with the Royal Borough of Greenwich (RBG) which provides funding to enable the organisation to carry out its core charitable objectives. The Royal Borough of Greenwich is the freeholder of the company's premises, The Tramshed, which it rents to the charity at a reduced rate based on community support given to RBG residents. A gift in kind is included within income and expenditure for 22123 to represent the market value of the rent gifted to the charity whilst they were in temporary accommodation. The charity has built key relationships with partner organisations with which it collaborates in delivering its charitable aims. This includes statutory bodies, the education sector and arts organisations. Key Management Personnel The key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day-to-day basis comprise the Trustees together with the Senior Management Team, itself comprising the Chief Executive Officer and the Executive Direclor. The overall responsibility for the charity lies with the Trustees who have delegated the day-to-day management of the charity to the Senior Management Team. The Trustees are not reimbursed for their role as Trustees but may reclaim expenditure incurred in the execution of their duties. One of the trustees received remuneration from the charity during the year ended 31 March 2024, further details regarding this can be seen within note 12. No Trustee claimed any expenses during either the year ended 31 March 2024 or the year ended 31 March 2023. The salaries of the Chief Executive and Executive Director are set with reference to prevalent market rates and reviewed by the Trustees on an annual basis. Staffing We have a committed core team of 13 (2023- 14) full and part time staff and engage in the region of 200 freelance facilitators, artists and other professionals each year (250 in 2022123). Volunteers Tramshed has worked with Volunteer Centre Greenwich to develop our Volunteers Strategy and Policy. Beyond our Trustees and Development board, we have implemented volunteer support for events and a valued tier of support on our participatory programmes. TRAMSHED ARTS LTD REPORT OF THE TRUSTEES Volunteering also encompasses schoolwork experience, student placements (from relevant BA & MA courses). During 2023124 we have supported 16 students from Goldsmiths, University of London Rose Bruford College The Royal Central School of Speech and Drama Woolwich Polytechnic School for Boys Plumstead Manor Girls School Eltham Hill School Leigh Academy Blackheath We are proactive in creating opportunities for volunteers to progress into paid work placements within the organisation, where possible. In 2023124 we employed a Royal Central School of Speech and Drama placement student to be a tutor in our Dramatic Voices sessions. These sessions were so successful that Henry Smith awarded funding for us to double provision at the close of this year. Fundraising Practices The charity continues its aim of achieving best practi￿ in the way in which it communicates with supporters and the wider public. It takes care with both the tone of its communications and the accuracy of its data to minimise pressures on supporters. The charity implemented an Ethical Framework & Due Diligence Policy in 2019 to help guide its practices. The charity applies best practice to protect supporters, data and never sells or swaps this with other organisations. It also ensures communication preferences can be changed at any time. The charity manages its own fundraising activities and from time to time employs the services of professional fundraisers to add capacity lo the senior management team. The charity aims to react to and investigate any complaints regarding its fundraising activities and to learn from them and improve its service. The charity received no complaints about its fundraising activities this year. OUR MISSION We change perspectives through theatre and creative spaces across generations VISION We increase social cohesion in our home of participation VALUES We are inclusive and foster a sense of belonging We celebrate diverse influences and experience We plan accessibly and equitably to reduce barriers We use fun, creativity and cultural enrichment for exchange with integrity We are open to new ideas and resourceful to be sustainable This requires Investments and Resour￿$ £500K+ of turnover from blended funding of awards and income generating activities Aiming to balance our budget with 450/0 Earned Income, 45 % Grants and 100/0 from Donations/Sponsorship We consider all kinds of values in decision making Partners and investors unleash power in beneficiaries through exchange TRAMSHED ARTS LTD REPORT OF THE TRUSTEES For Our Beneficiaries Young People aged 5-18 Adults with Learning Differences and Disabilities Community Partners Self-Defined Emerging Artists and Companies, Resident Artists, Freelan￿ Artists Representative of local demography across our organisation from attendees, team and board To Take Part in Our Activities Participation sessions including workshops, events and masterclasses Festivals and performances Co-curated platform events Skills development and information sharing Mentoring and peer support and placements Making a Difference People feel safe to be themselves, can take risks, and are confident to propose new ideas Personal Growth and Talent Development programmes increase self-esteem - everyone understands they make a differen People feel more connected to each other and that they belong. We offer lifechanging, life extending opportunities. Photo credit Alick Cotteril Tramshed Youth Advisory Panel record a PodGast at the My London Social Action Super Summit- City Hall February 2024 TRAMSHED ARTS LTD REPORT OF THE TRUSTEES OUR TRUSTEES Amana Phillips joined Tramshed as a Kickstart Marketing Assistant in April 2021 leading on Tramshed's Social Media Content for 12 months. Currently Marketing and Events Coordinator for Croner-i, Amana is a local resident and PRIPolitics graduate. Following her time at Tramshed Amana was Marketing and Comms Executive at Arrival Education who help businesses attract, retain and develop socially and ethnicalty diverse talent following her Mentorship of Tesco Bank CFO. Dhononjoy Ray (Vice Chair 20231 is an ACA qualified accountant with wide experience of business partnering, risk and control management and periodic reporting. Dhononjoy is a Treasury Finance Advisor at Shell, responsible for financial analysis and risk management. Previous roles included Finance Business Partner at Royal Mail, responsible for Property cost management, budget setting and month end financial reporting and Audit Senior with EY. Councillor Jackie Smith was originally involved with Tramshed as an organisation when she joined the board from 2004-10 with her expertise as a Social Worker. She re-joined Tramshed board in 2015 as Councillor for Woolwich Riverside. She is currently a Member of the Audit and Risk Management and Corporate Finance and Performance Panels. Cllr Smith has also previously been a Director for Thamesmead Town, Peabody Investments and Community Foundation, Bexley Borough Citizen's Advi￿ Bureau and 15Billion, an educational charity dedicated to promoting social mobility and raising aspirations among young people. Kerri Newns is a Tramshed Alumni and Consultant Systemic Family Psychotherapist, Clinical Supervisor, Senior Lecturer and Author. She has worked in the NHS for over 20 years and specialised in child & adolescent mental health and working with families. She continues to work as an independent Psychotherapist and Consultant in both public and private sectors. Lorena Pelayo has more than 20 years of experience in roles of financial analysis, business planning, strategy execution and customer management. Lorena Pelayo is VP, Head of Europe Financial Planning and Analysis at Mastercard. She is responsible for Mastercard Europe's planning process, business planning and financial reporting and analysis. Richard Cowley is Pupil Premium lead for James Wolfe Primary School in Greenwich with Centre for Deaf Children. Richard has previously been Deputy Head and is a long-term Senior Manager at the school. Roger Wilson (Chair 2023) has many years of experience on both sides of the stage as musician, educator, tour manager and administrator. Conservatoire trained, he has worked extensively in the commercial, jazz and classical sector with a wide range of artists from Lesley Garett and Bryn Terfel to James Brown and Quincey Jones. He has also played in some of London's most successful music theatre productions. As an instrumental teacher and lecturer, Roger has worked throughout the UK music education sector at all levels. In recent years, he has been dedicated in his support for the professional development of aspiring young jazz musicians. Rosie Thackeray joined Tramshed as a local Kickstart employee (16-25s> in May 2021 in the Box Office. She completed her placement in Nov 21, to take up a position as Assistant Director to Vicky Featherstone at the Royal Court. Rosie has been New Wave Producer for the Bloomsbury Festival and is now a reader for the Royal Court Literary Dept and Literary Coordinator for the Bruntwood Prize for Playwriting. TRAMSHED ARTS LTD REPORT OF THE TRUSTEES Ruth Ferris (Treasurer) Repo Sales and Funding for MUFG SECURITIES EMEA PLC from 2012 - Present, previously Mitsubishi UFJ Securities International. Ruth has also worked in Repo Sales and Funding for Citi Global Markets Ltd. 2006-12 and as an Analyst for Goldman Sachs 1999- 2005. Ruth has a BSC in Financial Economics, Economics, AdVan￿d Mathematics and Statistics. Tracey Sage FRSA is a Creative Consultant, Strategic Leader and Cultural Advocate who supports individuals and organisations to deliver successful passion-driven projects and create sustainable business models for social good. She has over 30 years, experience in culture, tourism, and heritage sector. Prior to founding Sage Culture Consulting, she played a pivotal role in the arts, culture, and heritage sector in the Royal Borough of Greenwich and across London. Veda Harrison FRSA (Tramshed Vice ChairlActing Chair April 2023) and a local resident of 20+ years. Veda is the Director of Creative Confident Communities at the Esmée Fairbairn Foundation. Her career spans a range of sectors, including as Associate Consultant for Creative Equals., a Senior Associate with Do It Now, developing gender equalitylvulnerability strategy at the Money & Pensions Service and programme management for NESTA and Blueprint For All (Stephen Lawrence Charitable Trust). TRAMSHED IMPACT: HOME OF PARTICIPATION In our Strategic Plan 2023-27 we set out that Tramshed's work will inspire, involve and grow participation. In 2023124 our team has used the locally listed, iconic building to welcome 3981 people to 1733 sessions over 6277.75 hours to Take Part at Tramshed. Create (Tramshed programme 390 unique participants attended Tramshed classes or groups 359 sessions over 1290.25 hours, 210/0 of the total use of building 2023124 17 programmes for young people, disabled adults and their parenvcarers 73 Tutors and Support Workers engaged, paid London Living Wage as a minimum fee 16 Placements from KS4 to MA Students 4 User Groups to inform practice- Youth Advisory Panel, N'Abled Steering Group, Community Partner Group, Artist Steering Group Facilitate (Tramshed partner programmes 618 beneficiaries take part in activities through 19 different groupslorganisations (e.g. Woolwich Singers, Woolwich Creative Club, Caribbean Social Forum) 450/0 beneficiaries aged under 18, 55 % over 18 years old 991 sessions over 2114.5 hours, 34 % of the total use of the building 2023124 Community (Tramshed hosts local groups to deliver their work) 2584 estimated beneficiaries take part in activities through 27 groups {e.g. Nigerian Association, Woolwich Carnival Association, private parties, Oxleas) 32 % estimated beneficiaries aged under 18, 68°/o over 18 years old 756 sessions over 2873 hours, 460/0 of the total use of the building 2023124 TRAMSHED ARTS LTD REPORT OF THE TRUSTEES Tramshed 2023124 ClasseslGroups Junior Youth Theatre (5-8) Middle Youth Theatre (8-13) Senior Youth Theatre (13-18) Young Company (13-18) In2Music with Capo Lee (13-25) Whatever Makes You Happy Mental Health Support Group (10-14) Tramshed Youth Advisory Panel (13-18) My London Social Action Group (13-18) Acting Masterclasses (13-25) Summer Skills- Music Mind Life {11-16) Reach Theatre Company for adults with Learning Differences Dramatic Voices Group with Greenwich Mencap for adults with Learning Disabilities N'Abled Steering Group (Greenwich based disabled artists) Disability Steering Group Artist Steering Group Breathe Parenvcarer Group Progression Careers Day for Young People and their Parentslcarers Who takes part in creativity at Tramshed? Participants In 2023124 Participants In 2022123 Category Greenwich Borough Postcodes Indices of Mulliple Deprivation (2019) Top 100/0 Indices of Multiple Deprivation (2019) Top 200/9 Indices of Multiple Deprivation (2019) Top 50 % Income Deprivation Top 10 % Income Deprivation Top 20 % Income Deprivation Top 500/0 Emplo ment To Employment Top 20 % Employment Top 500/0 Education Top 10 % Education Top 200/0 Education Top 50 % 73% Data nla 310/0 78% Data nla 310/0 87,/0 79% Data nla 770/0 73% Data nla 560/0 47% 10- TRAMSHED ARTS LTD REPORT OF THE TRUSTEES Health Top 100/0 Health Top 20 /0 Health Top 50 % Crime Top 10 % Crime Top 20 % Crime Top 50 % Barriers to Services Top 10 /0 Barriers to Services Top 20 % Barriers to servI￿s Top 500/0 Living Environment Top 10 % Living Environment Top 200/0 Livin Environment To Income Deprivation Affecting Children Index Top 100/0 Income Deprivation Affectin Children Index Top 20 % Income De rivation Affectin Children Index To Income Deprivation Affecting Older People Index Top 10 % Income Deprivation Affectin Older People Index Top 200/0 Income Deprivation Affectin Older People Index To Asian Black Data nla 62% Data nla 33% 85% 39% 83% Data nla 630/0 70% Data nla 10% 280/0 Data nla 28% 170/0 40% Data nla Data nla Data nla 44% Mixed White Disabled Not Disabled Neurodiverse Data nla Data nla 360/0 590/0 Data nla 30% 36% 560/0 under 18 over 18 Charged Sessions- complimentary Charged Sessions- concession (means tested benefits) Charged Sessions- standard Charged Sessions- donate 52% 12% 420/0 60% 64% 11 15% TRAMSHED ARTS LTD REPORT OF THE TRUSTEES We had set a target to welcome a representative group of local residents to Tramshed and exceeded our targets to increase access to the space and activities year on year: Tramshed Participants 2023124 Tramshed Participants 2022123 Greenwich Borough (2019) 0.6% 21.3% Indices of Multiple Deprivation {2019) Top 10 /0 Indices of Multiple Deprivation (2019) Top 20 % Indices of Multiple Deprivation (2019) Top 50 % 1 % Data nla 31% IIID 1011 d•prlv•tlon d•#ll•• Ill Iii Illl li Illl111 Ill .11 ..1 Why do we prioritise Young People, Disabled Adults and ethnically minoritized people in our programme? Young People.. Photo credit Thomas Line, My London Social Action 2023 12- TRAMSHED ARTS LTD REPORT OF THE TRUSTEES Tramshed Arts Ltd was originally established as Greenwich and Lewisham Young People's Theatre in 1971 and we have offered life changing drama classes in Woolwich and other sites ever since. A former attendee and local elected councillor told a team member that our most important metric was that we "extend lives" by encouraging aspiration and increasing well-being and confidence through our work with young people. Our Alumni and Ambassador Bernardine Evaristo was a guest on the BBC'S This Cultural Life podcast with John Wilson. She said BE.. From the age of 12, 1 went to the local youth theat￿. It Was Called GTrenwich Young People's Theatre, and it's still going. It's called Tramshed now. It was in an old church which was called Stage Centre. It's about 10-minute walk from where I lived. I rocked up one Friday evening with ong of my sisters, who was very embarrassed and shy, and went and hid in the toilet for the whole of the evening, and l just got stuck in and absolutely loved it and felt very welcome there. And it was so engaging. Youth Theatre is so engaging for children, you know, because you're there, you're wort(ing as part of a little community. Certainly, the one I went to, everybody was welcome. So, I think now it probably attracted children who felt different from the mainstream, because in that space you were, you ever you could be who you were. And I was the only black child there for a lot of my time there, and I didn't feel it. I was accepted. It was a very nurturing, safe space. It was my introduction to the arts creativity. I started to go into theatre to see plays as well as pgrfon77ing in them. JW.. Had you not seen any theatre up to that point? BE.. No, no. And then I started. That was 1972 1 started going to theatre. [1] haven't stopped and then eventually went to drama school and became a performer myself. So again, the writer l am today. I'm he￿ because, because of the youth theatre as well. JW.. Did it feel natural? Were you a natural performer in the Spotlight? BE.. I don¥ think I was particularly extrovert or anything. You know, I felt quite shy. I wasn't an attention seeking child at the age 12, 13, or 14, 1 don't think I was, but perhaps I became more extrovert through the Youth Theatre. Photo credit.. Aidan Brooks Tramshed Young Company April 2023 13- TRAMSHED ARTS LTD REPORT OF THE TRUSTEES What do Young People tell us today.. R and P joined the Tramshed Programme on the Whatever Makes You Happy programme, supporting young people with adverse childhood experiences. Since growing through that course they are now members of the Young Company, Youth Advisory Panel [YAP} and volunteered with the TraMshed￿rInity VineyardlGreenwich Youth For Christ partner programme, Youth Drop In, as peer mentors. They attended a trip to the RSC'S Youn Creatives, Convention in Jul 2023 and performed their musical composition for all attendees in the Swan Theatre, Stratford Upon Avon to great applause. *'iilii,i: I, Photo Gredit RSC.. Young Creatives Convention 2023 14- TRAMSHED ARTS LTD REPORT OF THE TRUSTEES They shared their reflections with us in January 2024 R.. It's nice to be a part of an organization that actually listens to young people cuz it can be hard to find that sometimes. p.. I think they give us a lot of opportunify because as a young person, R and I, we dont get a lot of say in any subject. So, with the YAP it gives us an opportunity and an opinion, to show our views and perspective on different subjects and situations R.. So yeah, that's really great because, knowing today's society, there's not a lot of places where young people Gan do that but here, we are. And we are also a part of the young Gompany, and me and P personally volunteer a lot at Youth Drop In. They just like hold games and stuff and anyone can come in and it's really cool. Me and P have been volunfeering since the end of the year when they start like when they finish their first term and yeah it's really fun. P.. It's every Friday and it's just where kids can come after school and relax, play table tennis, play switch - which is amazing- and just have fun and ￿laX and if you have exams, you can come do hon7ework, and it's just 8 very safe environment. It's just fun. R.. And the Young Company, our first play this year, part of NT Connections and it was sickl We became a young company and now we do stuff like plays togetherand we get to be in a professional workspace as kids no matter what like - It just gives you that chance to be able to do that. P.. We did the play, "The Heights" by Lisa McGee and it was really fun because we had like two intensive weeks where we got straight to it from like 10.'OOam to 5.'OOpm and then we opened on the Friday evening and we finished on the Saturday evening, then a week after that we had the Connections FestlV81 which Lvas really fun bec8use it was really ni￿ to meet other companies and watch their plays. ljust Can't wait for it next year. It's S8fe, if you're having a ￿allY bad d8y you can come over and it's basically like talking to your friend from school and yeah, I love being here. It's a second home. R.. There's never been 8 place like this for me or P in our lives. I'm p￿ttY sure there might never ever be anotherplace like this. Maybe not in this form, maybe things will evolve but the way things are going there might not be. I think keeping spaces like this no matter how far between they a￿, are special becaus8 It changed our lives. Dlsabled Adults: Photo Credit.. Rachel Ferriman Reach Theatre Company December 2023 15- TRAMSHED ARTS LTD REPORT OF THE TRUSTEES Reach, our theatre company for adults with learning difference was named and formed by people in their 20s. They had formerly been participants within our provision for young people with Learning Disabilities, which began in the 1990s. By extending our provision in this way, we successfully sustained and deepened relationships, ensuring that we continued to meet participant's needs, as they develop and change over time. This approach is reflective of the breadth or our work, as we involve participants in the design and leadership of our programmes. Dramatic Voices and Tramtastic Club Nights were founded in 2018, using a National Lottery Reaching Communities grant, through our engagement with the ALD community and partner organisations in the borough. We see growing attendance for Tramtastic, and Dramatic Voices is hugely oversubscribed. Both activities are ethnically diverse, reflecting the wider community- Since Global Majority families are not a¢￿ssing most ALD Servi￿$. this is an achievement highlighted by Greenwich Council. Participants generally arrive 60mins early for activities, to spend time in our foyer space socialising with each other. and this is an opportunity also embraced by families and carers. We support carers to be participants too, particularly within Dramatic Voices and, after initial hesitance they now look forward to and value the activities and experiences. Tramshed works in partnership (Compass Supported Living, Mencap) and our collaborative approach has stimulated interaction and relationships between agencies. We work with Oxleas NHS Trust who deliver Tramshed Fridays support programme for ALD. We were recently asked to host the 1 Oth birthday party for this group with Reach invited to perform. At this event Joel Parker, Consultant Psychologist, reflected.. For a lot of people who have Leaming Disabilities, loneliness and isolation can be a big challenge in their lives. Tramshed is a place where kind of people form friendships, people who've had many experiences of rejection in their life. A client who was coming to Tramshed when I was first brought in the group had multiple placements breaking down, been rejected from her family at times, I remember her coming to Tramshed and making a really good friend here. Simon Powell, Psychologist, added.. The most important thing was that people vwanted to do the things that they want to do with the people they wanted to be with. They didn't want to just be restricted to staying in the day in the [NHS] buildings. And they also wanted to go out in the evenings and that was quite difficult then for day seniiGes to do. Tramshed takes a person-centred approach bringing people and organisations together. Our expertise and community leadership role, particularty post-covid, has seen us commissioned by Metro GADS to form a 100 % disability-led project (some linked to organisations, others not), to create a 3- year strategy for disability in Greenwich. 16- TRAMSHED ARTS LTD REPORT OF THE TRUSTEES Participants, carers, and parents said.. [Reach has] given us the power to try out different fhings.. the ownership to celebrate our talents, the confidence to not be afraid of things going wrong. We have the power inside the rehearsal spaGe, we are all kind of together, waiting to burst out to so many different audiences as possible I'll say it in three points - Equal opportunities, very diverse and a lot of funl I love to dance, and it means I can dance in front of people where normally I would feel scared or like they were judging me. It Gan be lonely, yes, and I feel more happy and have fnends at Tramtastlc. I felt so safe right from the word go, basically, and I felt celebrated for who l am... All the staff give me a lot of confidence and a lot of praise and encouragement as well and the support network is absolutely fantastic This group is different because the users get input, and they get bored easily, don't think because they have learning differences that they don't have standards,. they dol I have had Josh drop out of so many groups and this is the only one that he likes to come to. I think it's because they are spoken to and lead the sessions. He feels heard I guess. This (Tramshed) is the only space within Greenwich that I know of. I hav8 ask8d the Oth8r ¢8￿rS in the group but they alljust shrug. We carers must searGh and it's hard to find the spaces for adults with ALD. Dr8m8tic Voices is the only one that operates with this kind of energy and support Case Study.. J has been working with Tramshed since 2020,. having as a young 13-year-old suffered from a rare illness (Neurofibromatosis Type 11 and has working memory deficit). Having left school based at home, with little opportunity to work, she discovered Tramshed joining Dramatic Voices, Reach and the Young Company. In 12 months, she has been transformed in confidence, often taking lead roles in a performance context. She volunteered in a support role with the Middle Youth Theatre, has written and performed a poem in a public performance with REACH, taken a lead role in a short film and has now joined the Access All Areas performance Diploma at Central. Her father recently commented 'Tramshed has transfomped her world and confidence and changed our perceptions of what she can now achieve" In March 2024 we were delighted to hear that our programmes for adults with learning difference and disabilities was awarded £120K over 3 years from Henry Smith Charity 2024-27. 17- TRAMSHED ARTS LTD REPORT OF THE TRUSTEES Ethnically Minoritised People: AR T9 COUN( EF%LANL¥ Culture attd Place Oèta Exploiei REPORT (C•n￿$ 20211 or•l%. 32r 12T*.44 64*4.141 141O%.JJJJ% M•p $8idlit• This map from the Arts Council England's Culture and Data Explorer demonstrates our local community has significantly more members of the Global Majority than other parts of England (source 2021 Census) The Royal Central School of Speech and Drama and Tara Theatre study surveyed 187 theatre producers from April to July 2023 and found "an increased likelihood of poor representation for lower socioeconomic backgrounds in perfom7ing arts and plentiful eviden￿ of continuing institutional racism in the theat￿ sectorf,. We meet representative metrics for participation, but we want to change the future landscape. We want to programme theatre and other performance art events at Tramshed that reflect our community. Vvhen running a call out for work we found we had a very small number of submissions that platformed Black and Brown artists. We are seeking excellent professional work out through joining networks such as the Young Theatre for Young Audiences (TYA) Venue Programmers Consortium,. butwe recognize and celebrate our part in the eco-structure, as a pipeline organization ensuring access and Confiden￿ to a more diverse workforce in the future. Our own work and work with partners has increased routes into the performing arts for young Black and Brown people. Our Young Company is a vocational programme with creative skills development leading to public perf0rrnan￿ as a part of the National Theatre Connections festival. 72010 of participants are global majority. One of the young people who has been a cornerstone of our youth programmes for 18 months described her experien￿ in BBC Radio London interview 18- TRAMSHED ARTS LTD REPORT OF THE TRUSTEES [Tramshed changed] everything I want to do, the way I see the wortd. I think it's because [its] a free kind of thing, perfon77ance that we can do. And forme and the people I perfon with it's so important beGause me personally, lin not able to kind of go to outside of school. Like drama clubs and things like that.. And just having spaces for us to express ourselves and be creative, especially for me as a black woman. I feel like it's important to have like our stories heard and our truth told and even in the play. The play kind of touches on topic, displacement, fleeing your country from genocide, and all these kind of things. Make it like, easier for us to have those different perspectives and kind of escape the Western bubble that we just live in here in the UK. And for me it just it made me it's just so refreshing to kind of see and hear loads of drfferent stories and be a part of performing and opening other people's eyes to these kinds of things The Woolwich Creative Club became resident at Tramshed in April 2023. Meeting weekly in term time, this programme provides young people with free music lessons on the group's musical instruments. Their sessions are led by professional musicians such as Byron Wallen; poet, spoken word artist and community organiser Rasheeda Paige Muir and also provide professional development for Trinity Laban Students. 86,/0 of attendees identify as Asian, Black or Mixed ethnicity. Photo credit Adelina Iliev,. Creative Pulse.. Woo1LV￿h CTr8tive Club The Youth Drop In emerged following the tragic murder of 14-year-old Tamim lan Habimana on the Tramshed doorstep in 2021. Partners such as Trinity Vineyard, Greenwich Youth for Christ, B Young Stars and Greenwich Inclusion Project {GrlP) advocated for a safe space for young people. This was trialed in December 2022. By Spring 2023 the term time activity was well established, and we welcomed 324 young people for free activities and food throughout the year. 82 % of attendees identify as Asian, Black or Mixed ethnicity. 19- TRAMSHED ARTS LTD REPORT OF THE TRUSTEES We were pleased to be able to say that from 2023 our trustees reflect our community. Our new Chair, Roger Wilson, elected in April 2023, attended Woolwich Polytechnic School for Boys as a child. His career as a musician has taken him all over the world, he is now the co-founder and Director of Operations for Black Lives in Music, a task for￿ dismantling structural racism in the Jazz and Classical Music industry. Working with partners: Space worth £98,175 was given in kindlvia discounts to local residents across our programme. We estimate 63 % of partner activities at Tramshed were free to attend, 37 % tickedlwith fees to pay. Local grassroots groups are largely led by volunteers who do not have the capacity to fundraise all the costs to deliver their unique, beautiful activities. Tramshed has been the home to the Caribbean Social Forum (CSF) since 2015. Their founder, Pamela Franklin told us that Tramshed is "the only place where she feels safe, where young people feel safe" The CSF meet weekly at Tramshed and regularly have 100+ members come together to socialize, eat together, hear from speakers, go on trips, and notice when people need additional support Woolwich Singers don't audition members- their group is made up of anyone who wants to sing for fun. In December 2023 they held a sold-out Festive concert with Reach, attended by the Mayor Greenwich - Cllr Dominic Mbang. i* Photo credit Rachel Ferriman Woolwich Singers Concert December 2023 -20- TRAMSHED ARTS LTD REPORT OF THE TRUSTEES Working with cross sector peers.. Greenwich Schools Sport Partnership (GSSP) brought dance workshops to Tramshed in March 2024. As a result of their work with us, young people in Year 5 brought their families back to Tramshed in April 2024 to take part in Anatomical's BuildyUppyDanceShow. The school lead then discussed being a part of the development of Anatomical's new work directly. GSSP presented to the Greenwich Cultural Education Partnership about the potential to collaborate further. GSSP will come back to Tramshed in 2025 Creating Ground were resident at Tramshed in 2024. Creating Ground CIC is a not-for-profrt organisation that works with women from migrant backgrounds to promote cross-cultural awareness, learning and sharing across different communities in South-East London (mainly in Greenwich) through collaborative arts and educational projects. Through the use of art and drama, people share their experiences, express their feelings and overcome difficulties through reflection and learning. 150/0 space dedicated to other groups and organisations who deliver professional, ambitious, community focussed arts e.g. Greenwich+Dockland International Festival, Taru Arts, Woolwich Dance Space, Dr Marisa Carnesky's Showwomxn Rose Bruford College delivered classes and events for 4 of their courses, 200/0 of the total use of the building 2023124 CASE STUDY.. MY LONDON SOCIAL ACTION We partnered with 5 other charitable providers for young people in Greenwich and Lewisham on the My London Social Action project. This 3-year programme, funded by the Greater London Authority came to a conclusion in 2023124 with a summit at City Hall. Participants said We are going to have to live with the wortd that is being created right now, and I think we deS8￿e a say. Young people are the future, you need to talk to them, get their views and work with them to make a brighter future. 14 Photo credit Alick Cottenl Tramshed Social Action Group present at the My London Super Summit- City Hall February 2024 21 TRAMSHED ARTS LTD REPORT OF THE TRUSTEES As a group, we C￿deSigned a flexible model, that embeds long term youth-led decision making and develops life-long, transferable skills for the young people participating. This model has proven to be inclusive of a multitude of needs, including.. those with SEN needs or neurodiversity; young people not in education, employment or training INEET)., those with low income families or living in poverty., children with experience of the care system; young people disclosing a mental health condition, low wellbeing or identified as being at risk. 670/0 of participants were identified as having an additional need or vulnerability. A joined the My London project as part of the Tramshed.. Youth Advisory Panel (YAP). Having been part of the Senior Youth Theatre at Tramshed, A choose to get involved in YAP, to help with making decisions within the organisation and have her say about issues that mattered to them. In early YAP sessions, A would need direct prompting to offer her opinions. It was clear, when asked, that she had something to say, but A would not proactively volunteer to take up the space and share her thoughts with the wider group. When the Youth Steering Group was being formed, she didn't nominate herself, but having seen her potential and interest during the YAP sessions, Tramshed's Participation Manager contacted her directly to suggest that she attend. This gentle encouragement led to her attending all subsequent YSG meetings (across t￿0 project phases) as a representative for her organisation. A has shown unparalleled commitment to the YSG and now is confident to chair the meetings saying I have gained confidence in sharing my ideas and allowing myseff to take up space and b6 heard by others thanks to the welcoming environment and the supportiveness of both those partaking and those supporting. A's knowledge and ambition around social action has grown, from thinking exclusively about youth voice within the context of Tramshed, to looking Ou￿ard at the changes she can make to the community. Not only have I gained confidence from being involved in the project, but I have also leamt 170W to make changes regarding socialjustice and what socialjustice really means, not just for me but for a number of other young people too. The project has taught me to be truly resilient because l in not the only one who wants social change and by coming together we can hope to achieve something. By being involved in organising and delivering Youth Summits, A has evidenced that she can achieve more than she realised. l always feel excited or empowered after the sessions as they give me something to work towards and something to be excited for. Even though I have sometimes left wondering how we'll pull so much together in so little time for events, we always manage it, and they always tum ouf to be enjoyable for everyonel This newfound self-belief and ambition for change, keeps A engaged with the project and hoping to achieve more, not only for herself but for her peers. I think that coming together and being part of a community that works together to achieve something will always be important to me, but also because our VOiGes are genuinely heard and they shape fhe project and what we are able to create, Lvhich is something that makes me feel inGredibly valued. My hope for the rest of the project is to be able to ignite and inspire other people to be interested in socialjustice too. -22- TRAMSHED ARTS LTD REPORT OF THE TRUSTEES A engaged with the full two years of the My London programme, and is now confident to lead workshops about social action to groups of peers and adult stakeholders. She has also completed her Duke of Edinburgh Award using her work with the project as her 'skill' portion of the award and been awarded AQA awards to support her CV building as she continues into higher education. A's progress has been both personal and practical and is demonstrative of how long- term, embedded youth voice can be instrumental to a young person's sense of self and future ambition. TRAMSHED IMPACT: MEETING OUR AUDIENCE ENGAGEMENT STRATEGY Setting our targets for 2024-7 we set out plans to work with purpose and regular data-driven evaluation to evidence increased trust and cross pollination of programmes make relevant choices for events where people could connect, audiences would be representative of our community, and especially underserved groups Indicators of success were Quality of experience was rated highly1990/0 rated their experience as Good or Very Good in 2023124) customer satisfaction was maintained over 911019.2 average score in 2023124) events were promoted through word-of-mouth recommendation (provided the highest number of referrals in 2023124, 36 % of all respondents ) In 2023124 we prOdu￿d.. 107 Events 630/0 were free to attend £12,643 Box Office Take 9521 Audience Members 114 Artists 17 Programme Volunteers £396 Raised in Donations The team programmed regular events {e.g. Comedy, Tramtsstic Club Nights for Adults with Learning Differences) supported artists to test their work (e.g. Banana School, Created A Monster, Dusk Ensemble, Elle Dillon Reams) facilitated community partner's work {e.g. Woolwich Singers and Reach Festive Concert, University of Greenwich and Caribbean Social Forum's Rum Shop) delivered 2 festivals (NT Connections April 2023 and Greenwich Family Arts Festival July 20231 devised a new production called Sorry, Not Sorry for 918 young people commissioned by the violence reduction unit at Royal Borough of Greenwich in Spring 2024 offered free, high quality family theatre and food for thanks to the National Lottery Community Organisations Cost of Living Fund in Spring 2024 -23- TRAMSHED ARTS LTD REPORT OF THE TRUSTEES Meeting our Vision to Increase Social Cohesion In our Strategic Plan 2023 we set out that a sign of success would be that those engaged with Tramshed identified a sense of belonging at events. In 2023134 audien￿ members said Extraordinary venue, very friendly, wonderful perfon77ance Feels like a valuable community space Lovely vibes, gorgeous staff, great theatre [this event is] What I love about London During 2023124 this developed further as stakeholders told us that they saw our function as a place of important social cohesion for the area. Audience members reflected this in their feedback at events.. [1 will] bring my family from Indonesia to watch the band next week .) It's very nice to see multicultural events promoted in the local area especially for educating children. Appealed to all agesl Our group from 7 to 74 all had a whale of a time. More events like this pleasel Community lunch after great. Amazing, engaging, v inclusive too (aware of Ramadan + so kind and thoughtful) Thank you for all you done, I think the offer to add a donation [instead of pay for tickets] is nice for those who cannot afford [1 wasj happy to have the opportunity to mingle & make new friends [programmeJ more music events throughout the year inside and outside for everyone to enjoy after being subject to lockdown and cost of living crisis. Music lifts a person's 8n8rgy and makes them happy. Increasing Access for Attendees To collate and analyse our audiences in 2023124 we have used demographic data from feedback forms collected at events. At large scale events we have used clickers for headcounts, each event counted from beginning to end by 2 separate stewards to check accuracy. We have been using the same feedback postcard based on the Audience Finder Survey Questions since 2021 to follow our story through quantitative and qualitative information across time. Audiences 2023124 Audiences 2022123 Participants 2023124 Category Greenwich Borough Postcodes Indices of Multiple Deprivation {2019) Top 10 % Indices of Multiple Deprivation (2019) Top 20 % Indices of Multiple Deprivation (2019) Top 50 % Income Deprivation Top 100/0 Income Deprivation Top 20 % Income Deprivation Top 50 % Employment Top 10 % Employment Top 20010 Employment Top 50 % Education Top 10 % Data nla 13% 21% 31% 70% 60% Data nla 85% 24% 19% 38% 74% 63% Data nla 87% IFI 11 % 63% 55% Data nla 77% -24- TRAMSHED ARTS LTD REPORT OF THE TRUSTEES Education Top 200/0 Education Top 50 % Health Top 10 /0 Health Top 20 % Health Top 50 % Crime Top 10 % Crime Top 20 % Crime Top 500/0 Barriers to Services Top 100/0 Barriers to Services Top 200/0 Barriers to Services Top 50 % Livin Environment Top 100/0 Living Environment Top 200/0 Livin Environment Top 50 % Income Deprivation Affecting Children Index Top 10% Income Deprivation Affecting Children Index Top 20% Income Deprivation Affecting Children Index Top 50% Income Deprivation Affecting Older People Index Top 10% Income Deprivation Affecting Older People Index Top 20 % Income Deprivation Affecting Older People Index Top 50 % Asian 40°/0 36% Data nla 56% O°/0 49% 11 % 38% Data nla 62% 120/0 78% 21% 76% Data nla 85% 36% 90% 90% Data nla 950/0 780/0 730/0 690/0 Data nla 24% 170/0 170/0 670/0 88% 32% Data nla 40% 790/0 710/0 90% Black Mixed White 10% 300/0 530/0 Latin Americanlother 8% 3./0 Data nla Disabled Not Disabled 36% 93% 93% Neurodiverse Data nla Data nla 8% Our summary table shows that our audiences are likely to travel further to see events- participants are more locally based., be a little more affluent and be more representative as Greenwich as a whole borough rather than our local neighbourhood. -25- TRAMSHED ARTS LTD REPORT OF THE TRUSTEES Tramshed provides a welcome for all however we have a remit to super serve legacy, local and prioritised groups; these are young people, Disabled people, and racialised communities. These groups remain less represented as audience members than as participants. We were, however, pleased to see a consistent improvement across all categories in 2023124 increasing access to the arts for groups such as time and cash poor families and those managing intersectional challenges in heath inequalilies, living environment, racism and barriers to services. The team aimed to create a programme and experience that felt accessible across protected characteristics. Audiences shared Really great that these events are available for free in our local area Love that it's a local event so don't have to travel with my disabled son Great that events are being hosted at the Tump 53 to make use of it as an outdoor theatre. Thank you for this event, very welcoming and lovely to see more queer events as a Igbtq+ person Events like prid8 fe81 really important for kids. Ther8 should be morel Bravo to all of them. Pride should not b8 only for on8 day but for every day Really amazing sensory event, would come againl We know that we can always increase the accessibility of our events- despite a lift at the Tramshed an audien￿ member noted that they did not see "disabled access for audience? (all stairs?)" We added the venue to the listings guide AccessAble which sets out our offer for visitors. We also undertook free training for Dementia Awareness to help us see the venue as audiences might and further enable our team to host our community. Event Locatlons 450/0 of performances were at our base in Woolwich, SE18 6ES 550/0 were delivered across the borough The outreach was important to us to deliver across the borough and for brand awareness. One attendee reflected "It gncourages me to visit the actual Tramshed in Woolwich Thank you" -26- TRAMSHED ARTS LTD REPORT OF THE TRUSTEES Greenwich Family Arts Festival pr•onidbyTlOff151i•d lst-SOlh July 2025 O Twnp55 - t> Royal Arn•nal Artlll•rySquor• O ¢kn*rnl GtsrdohS4u¢ir• Q GI••t￿l(h Pork Q C4knrPqvk North 10 outdoor locotlo Above.. Map from Greenwich Family Arts Festival Brochure Opposite.. Locations of school partners and Abbey Wood Youth Club for Sony Not Sorry, March 2024 and IMD 2019 IndI￿S of Multiple Deprivation screenshot for the area By the end of the year, we started to collect information on the way the audience's travelled to Tramshed to understand more about our carbon impact. Tramshed does not have a dedicated car park but has 7 bus stops {18 routes), an overground, DLR and Elizabeth Line station on our doorstep. In the initial SUNey we found that- for family performances- 48 % used public transport 33 % walked 15% came by car 3 % cycled -27- TRAMSHED ARTS LTD REPORT OF THE TRUSTEES Audlence Motlvatlon to Attend In the initial suNey we found that- for family performances- To spend time with friends/family 66% To be entertained 590/0 To enjoy the atmosphere To entertain my children To educatel stimulate my children To do something newlout of the ordinary To be inspired To learn something Artforml Activity is an important part of who l am to escape from everyday life For a special occasion To be intellectually stimulated For reflection For professional reasons For academic reasons For peace & quiet Other 350/0 21% 160/0 119/0 11 % 9% 990/0 Word cloud of all audience feedback for all performances: brilliant fun enjoyed performance than1< amazing show wonderful excellent friendly kids see experience venue people day free local beautiful atmosphcrc know fantastic events com st,iff thank really loved tiime fab music theatre just family great young children nice back tr2mshed fijnny area enjoyable please space good lovely love event welcoming -28- TRAMSHED ARTS LTD REPORT OF THE TRUSTEES 99,/0 of all attendees giving feedback cited other reasons to attend, beyond the categories suggested in the Audience Finder survey. Almost half of these were about supporting a family member or friend who was taking part in a Tramshed event. Tramshed hosted the NT Connections Festival in 2023 for 6 companies, welcoming 311 people to the building to celebrate young people's creativity. We were able to share projects with one of our core audiences- friends and family of our participant group. They said W8 came specifically to S8e our child perform. It was excellent Lovely seeing talented young people. Really enjoyed it Tramshed's history as a youth theatre means that participation is a key part of our mission statement. We aim to include interactive programming in our event series. We showcase our groups in our professional programmelfestivals (e.g., Reach's Concert, Dramatic Voices, Look At Me, Tramshed Young Company The Heights) We research productions that actively engage audiences to take part in the performance (e.g. storytelling theatre with Weird Folk Mad Monsterzz and Dizzy O'Dare's Falconary Dismay). Photo credit.. Weird Folk Mad MOnSte￿zZ Free Theatre at Tramshed March 2024 -29- TRAMSHED ARTS LTD REPORT OF THE TRUSTEES We try to set the atmosphere with interactive games during festivals and informed team members engaging with audiences at every event. Audience members said I loved that the garden games were provided too. Really friendly staff and a great and positive atmosphere. The show [MEA T by Elle Dillon Reams] was exceptional and it was lovely being told that we could remain in the space for flection as well as being supported to the resources We liked the interactive storytelling. Please offer more like this in our area. happy to have the opportunity to mingle & make new friends what an amazing concert. THANK YOUIII Buzzing atmosphere & fab musiclll Thank you so much for letting our chIld￿n join in with the music, all the kids LOVED itii Thank you for letting my son join in to do introduction tto the concert] he felt proud of himseff As a point of development, we have acted on feedback we received for artist's performances.. [1] Would like to hear the company talk about the piec8 at the end Since this comment was made in October 2023, we have offered Q&A sessions post performance so that audiences and artists can build on their experiences. As so many artists we work wrth consider themselves as emerging - developing their voice- this feedback loop can be invaluable. As many performances touch on issues around identity audiences have found it beneficial to have a place to share thoughts and questions with respect and kindness. We used our budgel as efficienlly as possible to ensure Ihe highest possible quality performances for audiences. 98 % audiences rated the content as Good or Very Good and feedback cited.. The Tramshed always have the best perfomiances The kids in the audien￿ loved it and it was very enjoyable to watch as a contemporary dance fan The show was beautiful, visually stunning, the actress brilliant Thanks to support from the National Lottery Community Organisations Cost of Living Fund we were able to offer high quality, professional, diverse family programming in March 2024. Nationally recognised artists, supported by Southbank Centre, Arts Council England, Half Moon Theatre, Cast (Doncaster) brought their work to Tramshed, free to attend and followed by shared meals. The feedback was ove￿helMlngIY positive, a sample was ljust want to say that you should organise more events like this. We had a wonderful time Bnlliant free event. Not been to something like this before with my baby. A great experienGe for us both We really enjoyed the showll The staff are so friendly and welcoming. Please can vve have more things like this ? 30- TRAMSHED ARTS LTD REPORT OF THE TRUSTEES Pricing Policies In this challenging financial period for all we delivered 57 free perforMan￿S for 7,340 people. We are grateful to our funders, especially Royal Borough of Greenwich and National Lottery Community Fund, to make this possible. We also began to explore what people would be willing to pay for quality regular family theatre. The results were mixed, in a survey at a free event attendees shared that 60/0 could not pay to attend 940/0 would pay something 22 % would pay under £5 250/0 would pay £5-10 110/0 could pay £10+ Audiences members added helpful narrative It is difficult to afford anything right now, so in all honesty rf it was a paid for shows we would not b8 ab18 to come Y8s, but it is tricky so it depends if I had any spar8 that month Y8s, ideally per family up to £5 Yes. Donated £10 and would spend/donate more next time (£15/20) As a result, we set our ticket pri￿$ for following events so that we always offer Free tickets for targeted audiences {e.g. pupil premium lead, carers, bursary) Complimentary tickets (means tested benefits, students) Standard Standard + donation This matches our tried and tested Youth Theatre fees and hyper-diverse town as shown in this screenshot of the online data explorer for the Indices of Multiple Deprivation 2019.. klap 2019 31 TRAMSHED ARTS LTD REPORT OF THE TRUSTEES Programme Challenges We needed to increase and diversify income in year during 2023124. The trustees discussed the bar prices for events after we had feedback that we had 'a very reasonably priced barlll" A decision was made to increase the cost of drinks at events such as Comedy to help to meet the event overheads. Unfortunately, this change was extremely unpopular with regular attendees. One wrote to us.. We were upset on how you increased your drink prices massively since the last event we went to. Others were also saying this to us on the night. Small bottle of Peroni (£1.20 in shops) £6 11 Small crisps up from £1 to £2 111 Central London prices and felt like a rip off. Apparently [a bottle of] wine went from £14 to £20 too. Shame as the Comedy was fantastic and local too. We did our best to communicate directly with our audiences and advertised the value audience members were adding by buying a drink, letting people know that every sale supported our life changing work. Wider changes and challenges for the organisation meant that we evaluated the costlbenefits of all our programme during the year. Despite a full house for Comedy when Tramshed reopened in November 2022 the deepening Cost of Living Crisis affected audience numbers across the year. By Autumn 2023 we realised we could not justify the continued losses for the Comedy programme against our charitable aims. The last Comedy event for the foreseeable future took place in December 2023. Audiences told us at that performance they would pay more to keep the event afloat, we will consider this for the long-term planning. 32- TRAMSHED ARTS LTD REPORT OF THE TRUSTEES Theatre in Schools StPaul'sA&idemy. Royal Borough of Greei Thxsony. T￿￿￿*￿￿*￿d.Oft￿1￿￿lhollkTh1fUI8￿1 Ptr¢tylT•*I¥n￿tsJlW)n Photo credit.. Tunde Euba, Sorry Not Sorry Rehearsal March 2024 In December 2023 Tramshed was commissioned by the RBG Safer Streets team to deliver a pilot project on building self-esteem, enabling young people to walk away from conflict and de-escalate tensions. The main delivery period was Feb-march 2024 and Sorry, Not Sorywas taken to 5 settings in an identified hot spot for violence for 14 shows to 918 young people aged 10-14. The main benefits were.. Working closely with young people, schools and the youth club in Abbey Wood to develop the piece from the outset to inform tone, language and care Seeing and hearing from the teachers about the deep impact the work had Being able to evidence the benefit of bringing creative intervention to young people. Significantly we saw that Year 6 pupils were 5 times more likely lo talk to trusted adults after the performance, Year 9 were much more likely to turn to their social networks in preventing violence Support from Year 10 work experience students at Tramshed with the administration and data entry on the project- they were able to see the work and understand the value of the work they were doing for us Evidence the potential to tour this project again in 202415 for the successful partnership MyEnds bid to the GLAJMayor of London Seeing the relationship with the Safer Streets team evolve. They have valued our work and have offered to support and enhance Youth Drop In for Q12024125 as a result 33- TRAMSHED ARTS LTD REPORT OF THE TRUSTEES Health and Wellbeing Lead, 9FR Form Tutor, St Pauls Greenwich.. The performance was excellent, materials were presented in a sensitive way that was relatable to students. Students were fully engaged and found it far more impactful than a traditional PSHE lesson experience. Having the students involved in the process (questions / altemative ideas etc) helped them take more ownership over their learning and understanding. Students, conversations after the performance showed that students digested, understood the materials in a level that matched their understanding and needs. Students were having engaging conversations with peers regarding issues raised during the performance. Teacher Feedback, De Lucy Primary School (Year 6) Most of the children during discussions were able to highlight the importance of keeping themselves safe. This was in relation to not getting into a fight just to defend someone else. They understood that there can be different ways of calming a situation. Children wer8 able to challeng8 each other during th8 discussion, for 8xample they wer8 children asking questions when one child mentioned that they would defend a friend no matter what. Som8 people could be going through a lot at home and therefore this can cause them to r8act to people and situations differently. Sometimes you can try your hardest to help someone or you can try to be a good friend but even in doing so, if someone has lots of issues or they are going through a situation, it Gan feel like you are th8 one causing the problem. This piece will be delivered in 2025 and 2026 to young people in Woolwich Dockyard and Glyndon areas as part of a co-ordinated effort funded as a MyEnds project from the GLA Violence Reduction Unit. As we write this project is needed more than ever. The wider team listens to how people are feeling following 2 critical incidents in 24 hours in our area in January, signposts young people to available programme across the week and informs parents about support they can receive. Dlgltal Platforms 8571 Online AUdien￿S Members engaging Twitter 3225 Followers Facebook 2003 Fans, Instagram 3163 Followers Youtube 135 Subscribers Linkedln 45 Connections Impressions l Reach: Facebook Page Impressions 407,357 Facebook Post Impressions 76,630 Facebook Post Shares 280 Facebook Link Clicks 536, key peaks with season programme launches May 23 and Feb 24 Instagram Profile Impressions 172,675 Instagram Profile Visits 6,119 Instagram Post Impressions 83,509 Instagram Link Clicks 519 Twitter Post Impressions 71,831 Twitter Post Mentions 431 34- TRAMSHED ARTS LTD REPORT OF THE TRUSTEES We had a real strength in post engagement rates- all well over industry benchmarks for a comparable period (source Hootsuite 11.2.24-31.3.24) Facebook Industry Average 1.950/0 Instagram Industry Average 2.64°/o Twitter Industry Average Facebook Tramshed Average 4.73'/0 Instagram Tramshed Average 5.2 % Twitter Tramshed Average 2.52 % Across 1.4.23 to 31.3.24 we achieved.. fi post engagement rate Q post engagement rate O post engagement rate 3.2% 4.57 % 3.84% engagement r•te en8asement rate ensa8emtnt Our content scored above industry average across platforms for post and page virality and amplification suggesting our material is being spread and shared organically, meeting our aim to be a trusted, word of mouth recommended organisation. (source Hootsuite 11.2.24-31.3.24). Facebook Industry Average 25.56 Virality Rate Twitter Industry Average 0.03 Amplification Rate Facebook Tramshed Average 78.76 Virality Rate Twitter Tramshed Average 0.56 Amplification Rate It was more challenging to deliver industry average levels of content. In August 2023 we had to cut staff hours to manage the annual budget and this inevitably impacted on our delivery. We took the difficult decision to reduce our Marketing Manager's post from full time to 3 days a week. We were as efficient as possible, using Al technology to increase impact with less output. Using Hootsuite as a tool we see the best days and times to publish online material to build awareness based on our post impressions to extend reach based on the number of followers online to increase engagement based on our post engagement rate in the last 30 days In the following financial year, we could look at the staffing budget to support our marketing and communications function. We recruited a Marketing Assistant, also 3 days a week from June 2024 and since then we have increased Facebook Page impressions to 279,513 from July to Dec 2024 (138,981 increase from 140,532 in July to December 2023) Instagram Post impressions to 87,272 from July to Dec 2024 (42,512 increase from 44,760 in July to December 2023) Followers on Instagram (up 15 % ), Facebook (up 1 % ) and Linkedln (up 462 % ) We made the decision to redu￿ our interaction on X {Twitter) in 2024125. 35- TRAMSHED ARTS LTD REPORT OF THE TRUSTEES ThriveLDN made a beautiful film about our work in Spring 2023 and Oxwide (the Oxleas Media Channel) shared their re ort from the Oxleas Tramshed Fridays Group in Summer 2023. We could immediately see the benefit of professionally made assets which capture the feeling of being in our Spa￿ and being a part of our activity. bibt ThriveLDN Film - Tramshed & In2Music ThriveLDN Film - Tramshed & In2Music e lorm liknDd5r4 Oxwide Film - Oxleas ALD Tramshed Fridays Oxwide Film - Oxleas ALD Tramshed Fridays 36- TRAMSHED ARTS LTD REPORT OF THE TRUSTEES We started to add a budget line for professional videos of our work whenever possible in as key part of communication strategy in 2024125. Having a rofessional trailer for I'm Possible Not Impossible was important to market the work- with 6.5K views 13 /0 were our followers, we reached an additional 87 % viewers- and to change views on what Disability Arts can be. rm possi8￿ rMJT I 24th 125th FINANCE REVIEW Summary of performance and position Unresrricted Funds E127,459.00 Ro4tricted Fund5 12VI.861.QQ 37- TRAMSHED ARTS LTD REPORT OF THE TRUSTEES Income for the year amounted to £419,320 (2023 - £471,644). ￿￿[￿tionS atKI Gift5 2.7% OtherTroding ActiviLi0s 24% Choritoble Activities 11.2% Gronts Receivoble 62.2% Income Chart Expenditure totalled £568,717 (2023 - £612,704). QrLisLS 10.4% Orhfrr Difeci Staff Costs 7.7% Trovel ond Tronsport 0.6% Production ond Running Costs 8.4% Mark￿r￿j 1% Support., Non Premises Costs 56% Centrol ￿MiseS Costs 15.9% Expenditure Chart 38- TRAMSHED ARTS LTD REPORT OF THE TRUSTEES FINANCE REVIEW The net movement in funds for the year was therefore a deficit of £149,397 (2023 - £141,060), resulting in total funds at 31 March 2024 of -£70,506 (2023 - £78,891). Included in total funds is an amount of £29,568 {2023 - £12,322) which is restricted to be carried forward into 202412025. Full details of the restricted funds can be found in note 17 to the financial statements, together with an analysis of movements during the year. Accordingly, the unrestricted general funds of the charity at 31 March 2024 totalled -£100,074 {2023 - £66,569). The net book value of tangible fixed assets stood at £5,811 (2023 - £9,294). After excluding the net book value of tangible fixed assets, the unrestricted "free" reserves of the charity stood at -£105,885 {2023- £57,275> at the year end. FINANCIAL STABILITY Tramshed has faced compound, complex challenges since Autumn 2019 and the management team has worked throughout with our Trustees to assess and navigate the risks for the organisation. In October 2019 a decision by our landlords, Royal Borough of Greenwich, to repair aspects of Tramshed venue led to a full refurbishment programme. The £4M investment in the space was firm linked to trust in the management of Tramshed Arts Ltd and we were granted a new 50-year lease for the building. This capital project took place across 2019-2022 and, given the circumstances, encountered delays. This necessitated 2 moves by the team before we could come back into the new space, impacting on our capacity for development. During that period the Covid 19 pandemic meant that we lost unrestricted earned income (90 % Hire Income, 780/0 Participation Fees, 71 % Box Office) Although we were successful in gaining some Covid Recovery Funds (including £230K from Arts Council England} we understandably saw funder priorities begin to change towards grassroots organisations, particularly based outside London. Since the end of the pandemic and our return to our purpose-built venue inflationary pressures, increased competition for available funds and the most recent cost of living crisis has had a severe impact on the organisation. Thanks to Covid support schemes we were able to weather the years of lockdown and bring £173K forward into 2021122 and £219k forward to 2022123. However, during 2022123 we forced by all these extraordinary external circumstances to use some of our unrestricted reserves and the clf into 23124 was £78,891. Following the continued challenges of the 2023124 year our clf into 24125 was-£70,506. We continued to face pressure in the Spring of 2024 and made plans to reduce staff time in order to meet rising building overheads and programme commitments. 39- TRAMSHED ARTS LTD REPORT OF THE TRUSTEES The charity has maintained a dialogue with our major stakeholder, the Royal Borough of Greenwich throughout. There was a huge strength of feeling amongst both Council Officers and elected members to safeguard the organisation through this unprecedented period. This was recognition of our own value and our function as host to so many important local small charities. Therefore, Royal Borough of Greenwich worked with Tramshed Arts Ltd to arrange a £200K Loan as a social investment in the charity for the benefit of the local residents and community partners. At the close of the financial year, 31.3.24, the loan sat as a liability on our balance sheet for accounting purposes. Since that time the team have been working with the local authority on a recovery plan which is monitored monthly by senior officers at RBG. Given the extraordinary challenges for cultural and creative industries and as a recognition of dedicated community support and upturn in our circumstances in December 2024 the Royal Borough of Greenwich made the decision to write off the loan for £125,000 and convert the remaining facility to a grant in 2024125. This decision has transformed our position. Although we still have financial targets for 2025126, we can work towards them from a point of confidence and a positive balance sheet. Trustees are actively engaged in the substantive decisions for the organisation overseeing negotiations with the local authority regarding the £200K loan, and its conversion to a grant supporting decisions regarding organisation structure and staffing capacity developing a new Fundraising Strategy to increase personal and corporate giving increasing the benefitslpotential to work and earn unrestricted income from 2 further new studios in 2026 With the support of our Trustees and partners the position we present here is well researched and completely transparent. We have already seen an upturn in our position and, thanks to partners and funders who have invested in our beneficiaries in 2024125 we are confident that the charity will thrive for many years to come. 118HE ri Tramshed Building 2023, photo Rachel Feffiman -40- TRAMSHED ARTS LTD REPORT OF THE TRUSTEES ENVIRONMENTAL RESPONSIBILITY STATEMENT Tramshed makes sustainability a positive part of our organisation by Applying the principle of Reduce, Reuse, Recycle Investing in people's re-making skills over new products Optimising our USP of thinking local first Using our creativity to propose suggestions and stimulate ideas Take personal responsibility whilst representing the organisation Engage participants in discussion and innovation Building on momentum we see around us from sector leadership e.g. referencing and sharing good practice from the Theatre Greenbook and Without Walls Outdoor Festivals Adding environmental responsibility as a standing agenda item for all team meetings from small ideas that make big differences to setting context for all project plans Indicators of success have been BREEAM rating for the new building with LED lighting, better insulation, renewable energy contracts Adding playful signs to our new Spa￿ to get attention for users to recycle their waste Reducing landfill through a new waste service agreement including more recycling Carrying through good greener festival practice such as on site, re-useable cable ties, reusing banners, biodegrable bin bags Employing a Costume Supervisor to source and fit costumes rather than design and make new items Buying, selling and exchanging used items for production Successful application to the GroundworkJDCMS Energy Efficiency Scheme in 2024 including installation of Solar Panels to the Tramshed building to be implemented in 2025 CAPITAL PROJECT FINANCES The total refurbishment is £4 million with investment from RBG of £3.3 million and a target for Tramshed of £700,000 with £50,000 already achieved. The project slipped in terms of delivery time scale creating challenges for all concerned, the Tramshed team, construction company and RBG. The final period (April through October 2022) proved particularly challenging for Tramshed with the team awaiting completion. We had to wind down operations in the temporary base we had moved to in 2019 as clearance of that building became a necessity. As a result, we were not in a position to deliver all planned programme and certainly not develop new programmes or activities. Tramshed have negotiated a lease framework with RBG ensuring longer-term sustainability to put the charity in a favourable position. We have been issued a lease with rent agreed as.. from date of the Lease to the day before the first anniversary of the Phase 2 Completion Date the sum that is equal to 7.5 % of the Rent (£3,000 per annum} from and including the date that is the first anniversary of the Phase 2 Completion Date to and including the day before the second anniversary of the Phase 2 Completion Date the sum that is equal to 15 % of the Rent (£6,000 per annum) from and including the date that is the second anniversary of the Phase 2 Completion Date the sum that is equal to 30 % of the Rent (£12,000 per annum) 41 TRAMSHED ARTS LTD REPORT OF THE TRUSTEES Additionally, if at the end of Phase 2 Tramshed has been unable to raise all its capital requirement this will become a fit-out rent spread out across the 50-year lease on the building. This allows us to build upon the 50 years already spent seNing the communities of Greenwich and SE London. The approach to the remaining target of £650,000 across Phase 2 (2023-5) will be targeting trusts, foundations and donors across joint revenue and capital approaches. Whilst the Trustees recognise the risk involved in any fund-raising targets, Phase 1 is now demonstrating the benefits of a fit for purpose space are evident along-side the strength of support and partnership working with the local authority. Now with a 50-year lease, recognising the value and impact of the organisation and building with its key role as a community hub and leading cultural partner,. Greenwich are now including The Tramshed as part of a wider redevelopment of the adjoining site with new opportunities and partnerships emerging. FINANCIAL PROCESSES Budget-holder accountability has been sustained and systems are regularly reviewed e.g., second eyes to approve all transactions- both bills to pay and when issuing invoices. The Finance Officer has added funder tracking to our Xero reports in addition to streamlined nominal and project codes. Tramshed reports PAYE figures monthly and VAT quarterly through Xero to HMRC. Our Finance & General Purposes sub-committee regularly review levels of risk to the financial position of the company. They meet in advance of quarterly board meetings to scrutinise management accounts and a new separate cash flow against budget. In the accounting period the sub-committee is made up of four Trustees (including the Chair, Treasurer), the Artistic and Executive Directors. During 2023 the board appointed Dhononjoy Ray, an ACA qualified accountant with senior audit experience as Vice Chair and remains on the F&GP group assessing process and risk. He provides corporate governance, as well assisting with exploration of new revenue streams and improving the control environment to ensure Tramshed continues to play a key part in the local community. TRAMSHED RISK MANAGEMENT In the context of wider pressures and internal changes in late 2023 the Tramshed Senior Management team have worked with Trustees on a Risk Register based on the Charity Commission's Guidance CC26. The document sets out Method Statement Scheme of Delegation Disaster Recovery Plan And identifies and addresses risks using a heat map. We have taken into account legislation and regulations appropriate to the activities, size and structure of the charity in Governan Operations Finance Environment Compliance -42- TRAMSHED ARTS LTD REPORT OF THE TRUSTEES We risk assessed likelihood from remote to highly probable and impact from insignificant to catastrophic. We assessed factors for our organisation in our sector we looked at good practice mitigation to find a residual risk factor. At no point did we find risks rated in the top 113 e.g. from probable with major impact. The remaining hot spots of concern remain in areas of available finance, especially those factors that are less within our control, such as the competition for and availability of grant and trust funding. To tackle this significant challenge for the organisation we have Committed to planning in this context across the charity, using an external facilitator to support innovation Discussed all risks inherent in a change of landscape and how this will impact on our business planning Planned our budgets based only on confirmed income and focussing on increasing our unrestricted income stream Looked at the risk factors within our control and identified tasks we can do to continue to improve this Assess the roles of and duties of everyone involved in running the charity to test if we are using the resources and assets we have most effectively Kept all staff informed of changes in programme, duties and responsibilities Worked with professional fund-raisers to support the work of the senior management team and increased likelihood of success Considered the overall risk profile of charity and included control of the narrative of change in our planning Included stakeholders in changes for the organisation, especially Royal Borough of Greenwich maintaining dialogue throughout We are aware of the impact of change on the people in the organisation. Tramshed has always encouraged team and board members to take up professional development opportunities. We are particularly indebted to house theatre network, AMA and London Youth for setting low or no membership rates and providing highly relevant and detailed training. Our team have benefitted from courses on First Aid Fire Marshall Training Accessible Website Design Safer Recruitment Carbon Literacy Unconscious Bias Designated Safeguarding Refresher Training Diversifying Audiences Data Protection Fund-raising Strategy In addition to this, our Participation Manager and Designated Safeguarding Lead attended a Mental Health First Aid refresher course in 2023 to support the team, participants, building users and to act as a reminder of his own need to seek supervision given the multiple, complex concerns many of our beneficiaries are facing - on-going stress, lost income and, in some cases, hunger. -43- TRAMSHED ARTS LTD REPORT OF THE TRUSTEES We take a holistic approach to risk management at all times and never think of an individual situation out of context. We aim to discuss the pros and cons of decisions with relevant team and board members before committing to more complex decisions. During 2022 we developed a series of strategies to act as guiding documents to support good planning. These need to be dynamic and responsive enough but give the organisation a set of principles InflUen￿d by all the vol￿S of people who take part in our work. RESERVES AND POLICY The Trustees have reviewed Tramshed's general reserve figure in line with the guidan￿ issued by the Charity Commission: Charity reserves: Building Resilience. Trustees are particularly aware of the financial pressures that the past 5 years has placed on the sector and Tramshed particularly. During 2022-24 trustees were aware that reserves the organisation had been able to build up during previous years might have to be drawn upon to support the viability of the organisation. Trustees Reserve Policy has been to set a preferred level to match the costs of winding down the organisation and paying off all liabilities This is felt necessary to cover eventU21ities such as not meeting annual fundraising requirements, the temporary or permanent loss of its premises due to events such as fire or flood, or the sudden loss of a primary, statutory funding source, which the organisation is reliant on to deliver its charitable purposes and activities. This will ensure the charity can continue to run efficiently and maintain its programme of activities. Trustees agree that general reserves are necessary to ensure the organisation can meet its obligations, particularly if intended funding sources fail to meet the required targets. The policy and the level of reserves held are reviewed annually by the Trustees. The delays to the later aspects of the Phase 1 Capital Project, increasing energy costs and other impacts of the "Cost of Living" crisis made 2022-24 a much more challenging period,. with 2 team members who qualified for the maximum redundancy package at Tramshed it was anticipated that free reserves might drop below the parameters of the preferred reserves as set out above. In 2022123 Trustees agreed that if the organisation should fall slightly below the full amount, they would look to redress that shortfall across the following 24 months confident that the new income opportunities the building will offer will increase the sustainability they are aimed at achieving. In 202415, the organisation moved through a period of transition that required a smaller reserve to meet legal obligations. CEO and Artistic Director Jeremy James left Tramshed after 21 years on 31.3.24. Production Manager Jane Cunningham, who had also worked for the organisation for 20 years, retired in September 2024. The charity created a detailed, conservative budget for 2023-27 with specific multiple potential income sources and targets to fund programme strands to inform strategic choices at Tramshed in 2025126. The current Senior Management Team have cross checked amounts balance above and below the line as much as possible and discussed possible bids to resource activity with grant officers. -44- TRAMSHED ARTS LTD REPORT OF THE TRUSTEES STATEMENT OF TRUSTEES, RESPONSIBILITIES The Trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practi￿. 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 income and expenditure of the charitable company for that period. In preparing those financial statements, the Trustees are required to.. Select suitable accounting policies and then apply them consistently Observe the methods and principles in 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) Make judgements and estimates that are reasonable and prudent State whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements Prepare the financial statements on the going Concern basis unless it is inappropriate to presume that the charitable company will continue in operation The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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 hen￿ for taking reasonable steps for the prevention and detection of fraud and other irregularities. Each of the Trustees confirms that.. So far as the Trustee is aware, there is no relevant audit information of which the charitable company's auditor is unaware The Trustee has taken all the steps that helshe ought to have taken as a Trustee in order to make himselflherself aware of any relevant audit information and to establish that the charitable company's auditor is aware of that information. This confirmation is given and should be interpreted in accordance with the provisions of s418 of the Companies Act 2006 The Trustees are responsible for the rna1ntenan￿ 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 This report was approved by the Trustees and signed on their behalf by.. -45- TRAMSHED ARTS LTD REPORT OF THE TRUSTEES Roger Wilson Chair of Trustees.. Date: 28th March 2025 -46- INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF TRAMSHED ARTS LTD Opinion We have audited the financial statements of Tramshed Arts Ltd (the Charitable Company) for the year ended 31 March 2024 which comprise the Statement of Financial Activities (including the Income and Expenditure Account), Balance Sheet, Statement of Cash Flows, and related notes to the financial statements. 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 A¢￿pted Accounting Practice). In our opinion, the financial statements.. give a true and fair view of the stale of the Charitable Company's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and > have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) IISAS (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 Un￿rtaIntieS relating to events or conditions that, individually or collectively, may cast significant doubt on the entity'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. -47- INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF TRAMSHED ARTS LTD Other information The other information comprises the information included in the 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, ex￿pt to the extent otheNise explicitly stated in our report, we do not express any form of assuran￿ 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. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Report of the Trustees, which includes the Directors, Report prepared for company law purposes, for the financial year for which the financial statements are prepared is consistent with the financial statements; and the Report of the Trustees and the Directors, Report included within the Report of the Trustees has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the 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 Trustees, Annual 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 rf, in our opinion: adequate accounting records have not been kept, or returns adequate for our audit have not been re￿iVed from branches not visited by us., or the financial statements are not in agreement with the accounting records and returns; or > certain disclosures of trustees, remuneration specified by law are not made,. or > we have not received all the information and explanations we require for our audit., or > the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemptions in preparing the Trustees, Annual Report and from the requirement to prepare a strategic report. -48- INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF TRAMSHED ARTS LTD Responsibilities of trustees As explained more fully in the trustees, responsibilities statement set out on page 42 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. 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.. We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, through discussion with the trustees (as required by audrting standards), inspection of the Charitable Company's regulatory and legal correspondence and discussed with the trustees the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our team and remained alert to any indications of non- compliance throughout the audit. The potential effect of these laws and regulations on the financial statements varies considerably. Firstly, the Charitable Company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation and taxation legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items. Secondly, the Charitable Company is subject to many other laws and regulations where the consequences of noncompliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect.. safeguarding, health and safety, anti-bribery and corruption and GDPR. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any. -49- INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF TRAMSHED ARTS LTD Auditor's responsibilities for the audit of the financial statements (continued) Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-complian￿ with laws and regulations) comprised of.. enquiries of management and those charged with governance as to whetherthe company complies with such regulations, enquiries of management and those charged with governance concerning any actual or potential litigation or claims, inspection of any relevant legal documentation, review of board minutes, testing the appropriateness ofjournal entries and the performance of analytical review to identify any unexpected movements in a￿OUnt balances which may be indicative of fraud. 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 COn￿alment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: https.'Ilwww.frc.org.uklauditorsresponsibilities. This description forms part of our auditor's report. Use of our report This report is made solely to the Charilable Company's trustees, 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 trustees 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 trustees as a body, for our audit work, for this report, or for the opinions we have formed. PIERS HARRISON (Senior Statutory Auditor) For and on behalf of Sumer Auditco Limited statutory Auditor 820 The Crescent Colchester Business Park Colchester Essex C04 9YQ Date: 28th March 2025 50- TRAMSHED ARTS LTD STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) YEAR ENDED 31 March 2024 Total Funds 2024 Total Funds 2023 Unrestricted Restricted Funds Funds Notes Income from: Donations and gifts Grants receivable Charitable activities Other trading activities 710 302 25,889 100,558 10,507 260,356 20,998 11,217 260,658 46,887 100,558 58,101 119,552 246,687 47,304 Totsl income 127,459 291,861 419,320 471,644 Expenditure on: Raising funds Charitable activities 30,901 263,201 30,901 537,816 35,109 577,595 274,615 Total expenditure 294,102 274,615 568,717 612,704 Net lexpenditure)lincome (166,643) 17,246 (149,397) (141,060) Gross transfer between funds Net movement in funds (166,643) 17,246 (149,397) (141,060) Totsl funds brought forward at 1 April 2023 66,569 12,322 78,891 219,951 Total funds carrled forward at 31 March 2024 £(100,074) £29,568 £(70,506) £78,891 All incoming resources and resources expended derive from continuing activities. The Statement of Financial Activities includes all gains and losses recognised in the year. 51 TRAMSHED ARTS LTD BALANCE SHEET AS AT 31 March 2024 Total Funds 2024 Total Funds 2023 Notes Fixed assets Tangible fixed assets 13 5,811 9,294 5,811 9,294 Current assets Debtors Cash and cash equivalents 14 77,498 50,142 105,530 11,867 127,640 117,397 Creditors: amounts falling due within one year 15 (78,957) (47,800) Net current assets 48,683 69,597 Total assets less current Ilabilitles 54,494 69,597 Creditors: amounts falllng due after one year 16 (125,000) Net assets £(70,506) £78,891 Income funds Restricted funds Unrestricted funds 17 17 29,568 (100,074) 12,322 66,569 £(70,506) £78,891 The financial statements have been prepared in accordance with the special provisions applicable to charitable companies subject to the small companies, regime. In the directors, opinion the Charitable Company is entitled to these exemptions as a small company. Approved by the Board of Trustees and signed on its behalf by: Roger Wilson Chair of Trustees 28th March 2025 Company registration number.. 1029063 Charity registration number.. 1026883 52- TRAMSHED ARTS LTD STATEMENT OF CASH FLOWS YEAR ENDED 31 March 2024 2024 2023 Cash flows from operatlng actlvltles Net (expenditure) Depreciation of tangible assets Decreasel(Increase) in Debtors Increase in trade payables 1149,397) 3,483 28,032 31,157 {141,060) 1,524 (35,223) 13,841 Net cash Inflowl(outflow) from operatlng actlvltles £(86,725) £{160,918) Cash flows from investing activities Purchase of tangible fixed assets (9,685) Net cash used in investing activities £(9,685) Cash flows from financing activitie8 Loan 125,000 Net cash from financing activities £125,000 Change in cash and cash equivalents in the year £38,275 £{170,603) Cash and cash equivalents at 1 April 2023 £11,867 £182,470 Cash and cash equivalents at 31 March 2024 £50,142 £11,867 Analysis of changes in net debt Cash in hand and at bank £50,142 £11,867 53- TRAMSHED ARTS LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 1 GENERAL INFORMATION Tramshed Arts Ltd is a Charitable Company limited by guarantee, incorporated in England and Wales, registered company number 01029063 and registered Charity number 1026883. The address of the registered office is The Tramshed, 51-53 Woolwich New Road, London, SE18 6ES. 2 ACCOUNTING POLICIES Basis of accounting The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), Charities SORP (FRS 102) and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. The Charity constitutes a public benefit entity as defined by FRS 102. The financial statements are prepared in pounds sterling and rounded to the nearest £1. The following principal accounting policies have been applied.. Going Concern The trustees consider that there are no material uncertainties about the Charitable Company's ability to continue as a going concern. The results of the charity since the year end have come under pressure which have resulted in a deficit and negative unrestricled free reserves. We have had significant focus on fundraising activities, including time spent bidding for new income streams. We have also been working closely with the Royal Borough of Greenwich (RBGI and in August 2024 a social investment loan of £200,000 was arranged, with £125,000 being wrilten off after the year end and the remaining £75,000 being converted to a grant in recognition of the commitment of the Borough to supporting the charity. Whilst this resolves the cash flow issue a recovery plan has been developed and is constantly evolving in respect of returning funds to surplus as soon as possible. The development of additional facilities, in conjunction with RBG, due to be completed in late 2025 will be a major new Sour￿ of income and surplus with the availability of two rehearsal spa￿5 which will be availability to the charity. The charity has also been successful in attracting new funding for 2025126. During the year Tramshed invested in new support for a sustainable future. A full time Operations Manager is building and maintaining efficient processes. Sector specialist development consultants Achates, with proven track record in building organisation resilience, are working with the leam strategically to increase revenue funding. The development of the continuing financial uncertainty for all is constantly being reassessed from a risk management perspective. 54- TRAMSHED ARTS LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 ACCOUNTING POLICIES - Continued As a result of the above, the Trustees of the charity are constantly monitoring costs and are developing formal recovery plans. Based upon this, the Trustees have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The Trustees are of the opinion that the charity will have sufficient resources to meet it's liabilities as they fall due. The most significant areas of Judgement that affect items in the financial statements are detailed above. Income Income is recognised in the period in which the charity has entitlement to the income, the amount of income can be measured reliably and it is probable that the income will be received. Income consists of donations and grants, donated facilities, ticket sales for performances, fees for workshops, youth theatres and other activities, and income from theatre hire and bar sales. Donations are recognised when the charity has confirmation of both the amount and settlement date. In the event of donations pledged but not received, the amount is accrued for where the receipt is considered probable. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period. Grants from government, other agencies and voluntary bodies have been included as income from charitable activities where these amount to a contract for services, but as grants where the money is given in response to an appeal or with greater freedom of use, for example monies for core funding. Income from ticket sales for performances is recognised on the date of the performance to which the tickets relate. Income from youth theatres, workshops and other activities is recognised on the date the workshop or activity occurs. Income from theatre hire is recognised on the provision of the rental space. Income from bar sales is recognised at the point of sale. 55- TRAMSHED ARTS LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 2 ACCOUNTING POLICIES - Continued Donated services and facilities Donated services and facilities are recognised in income and expenditure when the charity has control over the item or service, conditions associated with the donated item or service have been met, the receipt of economic benefit from the use by the charity of the item or service is probable and that the economic benefit can be measured reliably. Setvices provided by volunteers For the purposes of these financial statements, no value has been placed on administrative and other services provided by volunteers in accordance with the Charities SORP FRS 102. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to make a payment to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measure reliably. All expenditure is accounted for on an accrual's basis. Expenditure comprises direct costs and support costs. All expenses, including support costs, are allocated or apportioned to the applicable expenditure headings as described below. The classification between activities is as follows.. Expenditure on raising funds includes all expenditure associated with raising funds for the charity. This comprises staff costs associated with fundraising, primarily time spent by the Chief Executive and Executive Director on fundraising activities. Expenditure on charitable activities includes all costs associated with furthering the charitable purposes of the charity through the provision of its charitable activities. These costs include all expenditure directly attributable to programmes, such as directly attributable staff costs, the costs of workshop practitioners and the cost of theatre tickets, as well as allocated support costs. All expenditure is stated inclusive of irrecoverable VAT. 56- TRAMSHED ARTS LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 2 ACCOUNTING POLICIES - (continued) Allocation of support and governance Costs Support costs represent indirect charitable expenditure. In order to carry out the primary purposes of the charity it is necessary to provide support in the form of personnel development, financial procedures, PR and marketing, provision of office services and equipment, and a suitable working environment. Governance costs comprise the costs involving the public accountability of the charity (including audit costs) and costs with respect to its compliance with regulation and good practice. Support costs and governan￿ costs are apportioned based on the ratio of direct costs under each of the charity's various programmes. Tangible fixed assets Fixed assets are stated at cost less depreciation. All assets costing more than £1,000 and with an expected useful life ex￿edIng one year are capitalised. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected lives on the following basis.. Leasehold improvements Computer equipment Fixtures and fittings Over the term of the lease 200/0 straight line 200/0 Straight line Debtors Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued ai the amount prepaid. They have been discounted to the present value of the future cash receipt where such discounting is material. Cash at bank and in hand Cash at bank and in hand represents such financial statements and instruments that are available on demand or have a maturity of less than three months from the date of acquisition. Deposits for more than three months but less than one year have been disclosed as short-term deposits. Cash placed on deposit for more than one year is disclosed as a fixed asset investment 57- TRAMSHED ARTS LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 2 ACCOUNTING POLICIES - (continued) C￿dItorS and provisions Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probably that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material. 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 al their settlement value. Fund structure Unrestricted general funds represent those monies which are freely available for application towards achieving any charitable purpose that falls within the charity's charitable objects at the discretion of the Trustees. Designated funds comprise monies set aside out of unrestricted general funds for specific future purposes or projects. Restricted funds comprise monies raised for, or restricted by donor-imposed conditions to a specific purpose. Leased assets Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the Statement of Financial Activities on a straight-line basis over the term of the lease. Pension contributions Contributions in respect of the charity's defined contribution pension scheme are charged to the Statement of Financial Activities when they are payable to the scheme. The charity's contributions are restricted to the contributions disclosed in the staff costs note. The charity has no liability beyond making its contribution and paying across the deductions for the employees, contributions. 58- TRAMSHED ARTS LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 3 DONATIONS AND GIFTS Total Unrestricted Restricted Funds Funds Funds 2024 Donations 710 10,507 11,217 £710 £10,507 £11,217 Total Unrestricted Restricted Funds Funds Funds 2023 Donations Donated ServI￿S and facilities 26,634 21,467 10,000 36,634 21,467 £48,101 £10,000 £58,101 Donated services and facilities for 2023 include a donation from the Royal Borough of Greenwich which represents the market value ofthe lease ofthe temporary property used by the charity, which was provided at no cost. The market value of the rent for the property has been estimated at £36,800 per annum based on the rateable value proved by the Royal Borough of Greenwich. The estimated value has been recognised within income as a donation, and an equivalent charge included within central premises costs. 59- TRAMSHED ARTS LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 Total Unrestricted Restricted Funds Funds Funds 2024 4 GRANTS RECEIVABLE Greenwich - Children's Theatre Festival Greenwich - Core funding Greenwich - Other Project Grants John Thaw Foundation Peter and Teresa Harris Trust London Youth (Rise Up and Summer Skills) Royal Free London NHS Foundation Trust Charlton Athletic Community Trust Greenwich - Mencap Jack Petchey Foundation Metro GADS Greater London Authority National Lottery Community Fund National Theatre Lewisham Youth Theatre Berkeley Homes (East Thames) Ltd Maximus - Local Impact Fund 19,000 84,200 34,570 1,500 5,000 5.522 19,000 84,200 34,570 1,500 5,000 5,522 302 302 7,873 3,000 12,479 4,000 905 55,077 5,547 10,683 s,000 6,000 7,873 3,000 12,479 4,000 905 55,077 5,547 10,683 5,000 6,000 2024 Total funds £302 £260,356 £260,658 Total Unrestricted Restricted Funds Funds Funds 2023 Greenwich - Children's Theatre Festival Royal Greenwich Community Innovation Grants Mayors Young Londoners Fund Jublilee Fund Kickstarter Grants Berkeley Homes Access Sport CIO National Theatre METRO Charity Royal Free London NHS Foundation Trust Lewisham Youth Theatre Breslaff Jack Petchey Foundation 19,000 9,967 19,000 9,967 6,886 9,800 18,054 3,000 400 3,445 4,000 29,930 3,069 6,886 g,800 18,054 3,000 400 3,445 4,000 29,930 3,069 12,000 12,000 2023 Total funds £12,000 £107,552 £119,552 -60- TRAMSHED ARTS LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 5 INCOME FROM CHARITABLE ACTIVITIES Total Unrestricted Restricted Funds Funds Funds 2024 Youth arts Performances other activities 7,678 11,091 7,120 7,678 11,091 28,118 20,998 2024 Total funds 25,889 £20,998 £ 46,887 Total Unrestricted Restricted Funds Funds Funds 2023 Core funding Royal Borough of Greenwich 130,322 57,600 187,922 Youth arts Performances Other activities 6,243 9,522 32,900 6,243 9,522 43,000 10,100 2023 Total funds £ 178,987 £67,700 £ 246,687 61 TRAMSHED ARTS LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 6 INCOME FROM OTHER TRADING ACTIVITIES Total Funds 2024 Unrestricted Restricted Funds Funds Lettings income- theatre hire Bar income 93,971 6,587 93,971 6,587 £100,558 £100,558 Total Funds 2023 Unrestricted Restricted Funds Funds Lettings income- theatre hire Bar income 43,780 3,524 43,780 3,524 £47,304 £47,304 7 EXPENDITURE ON RAISING FUNDS 2024 2023 Staff costs 30,901 35,109 £ 30,901 £35,109 -62- TRAMSHED ARTS LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 8 EXPENDITURE ON CHARITABLE ACTIVITIES Core Participatory Capital Fund Theatre Projects Community Engagement 2024 Total Direct staff costs Artists Other Architect and consultancy fees Travel, transport and allowances Production and running costs (including staff costs Venue hire and associated costs Admin and marketing Support costs: central premises costs Support costs: non premises costs 23,740 18,121 20,484 6,225 7,575 14,301 4,100 2,569 55,899 41,216 541 2,313 15 98 2,967 5,506 17,427 19,429 2,905 45,267 300 300 1,488 1,171 1,205 1,470 162 5,496 28,034 27,221 24,613 5,617 85,485 98,773 95,906 86,718 19,789 301,186 Total expenditure £1,488 £175,886 £170,781 £154,421 £35,240 £537,816 -63- TRAMSHED ARTS LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 8 EXPENDITURE ON CHARITA8LE ACTIVITIES - continued Core Participatory Capital Fund Theatre Projects Community 2023 Total Engagement Direct staff costs Artists Other Architect and consultancy fees Travel, transport and allowances Production and running costs (including staff costs) Venue hire and associated costs Admin and marketing Support costs.. central premises costs Support costs.. non-premises costs 31,425 14,346 5,370 2,390 5,480 688 8,395 11,563 50,670 28,987 9,700 9,700 3,064 668 726 612 5,074 17,657 3,451 25,123 411 12,327 58,969 1,630 1,630 12,791 473 3,193 456 1,855 18,768 25,223 19,248 3,525 17,405 65,401 130,507 99,592 18,240 90,057 338,396 Total expenditure £43,212 £206,093 £157,272 £28,804 £142,214 £577,595 -64- TRAMSHED ARTS LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 9 SUPPORT COSTS 2024 2023 Support staff costs Artistic Finance and admin Production and education Other staff costs 35,009 128,682 101,683 14,852 49,141 134,881 90,793 12,323 280,226 287,138 Governance costs Audit and accountancy Board expenses 8,401 1,355 10,328 7,521 9,756 17,849 other support costs Depreciation Hospitality IT and telecommunications General office expenses Marketing and publicity Training and recruitment Travel, transport and allowances Sundry 3,483 601 11,845 12,193 5,588 3,501 620 4,272 1,524 1,664 9,183 11,183 7,031 2,544 394 34,746 42,103 68,269 £332,085 £373,256 10 NET MOVEMENT IN FUNDS 2024 2023 Auditors, remuneration Statutory audit 8,350 7,950 Depreciation 3,483 1,524 -65- TRAMSHED ARTS LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 11 STAFF COSTS 2024 2023 Wages and salaries Social security costs Pension contributions 251,276 13,891 3,956 227,365 16,771 5,060 269,123 249,196 Freelance staff costs 108 626 119626 £377,749 £368,822 The average number of employees, calculated on a average headcount basis, during the period was 13 (2023- 13). No employee received emoluments in excess of £60,000 in the year (2023.. None). The key management personnel of the charity, comprise the Trustees, the Chief Executive Officer and Executive Director. The total employee benefits of the key management personnel of the charity were £70,898 (2023 - £85,560). 12 TRUSTEE REMUNERATION AND REIMBURSED EXPENSES One Trustee, Rosie Thackeray worked as a Director for the Young Company Project for which she received £640 during the year, no other Trustees, remuneration, expenses reimbursements or other benefits for professional or other services were supplied to the Charity for the year ended 31 March 2024, nor for the year ended 31 March 2023. -66- TRAMSHED ARTS LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 13 TANG18LE FIXED ASSETS Leasehold Fixtures improvements and fittings Computer equipment Total Cost At 1 April 2023 Additions 11,014 22,549 26,276 59,839 At 31 March 2024 11,014 22,549 26,276 59,839 Depreciation At 1 April 2023 Charge for the year Disposals 11,014 13,671 3,067 25,860 416 50,545 3,483 At 31 March 2024 11,014 16.738 26,276 54,028 Net book value At 31 March 2024 5,811 5,811 At 31 March 2023 8,878 416 9,294 -67- TRAMSHED ARTS LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 14 DEBTORS 2024 2023 Trade debtors Prepayments and accrued income 61,999 15,499 72,358 33,172 £77,498 £105,530 15 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors Other creditors Accruals and deferred income 26,135 16,387 36,435 20,372 7,889 19,539 £78,957 £47,800 16 CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2024 2023 Loan 125,000 £125,000 The Loan represents funds drawn down from a loan facility of £200,000 with the Royal Borough of Greenwich, the term of which is to expire on 25, December 2036 when it should be fully repaid. The interest charge has been waived where the charity is able to evidence there is a social benefit to their charitable activities. Post year end the Royal Borough of Greenwich wrote off the £125,000 loan and this will be treated as a donation in the 2024125 accounts. The Council also converted the remaining £75,000 loan facility into a grant within 2024125. -68- TRAMSHED ARTS LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 17 FUNDS Balance at 1 April 2023 Balance at 31 March 2024 Income Expenditure Unrestricted Funds 66,569 127,459 (294,102) {100,074) Restricted funds Greenwich Family Arts Festival Other project grants Core funding My London Youth Social Action John Thaw Foundation Royal Parks Peler Harris Trust London Youth (Rise up and Summer Skills) Charlton Athletic Community Trust Greenwich - Mencap Jack Petchey Foundation - Core 19,000 34,570 (19,000) (25,000) 9,570 3,128 (3,128) (84,200} (1,500) 84,200 1,500 12,808 5,000 5,522 (12,808) (8,067) (5,522) 9,193 6,126 7,873 (7,873) 3,000 10,679 (3,000) (10,679) Achievement Award Achievement Award Metro GADS Greater London Authority National Lottery Community Fund National Theatre Lewisham Youth Theatre Berkeley Homes (East Thames) Ltd Maximus- Local Impact Fund Morgan Sindall Construction Charities Trust Poet in the City Greenwich & Docklands International Festival National Philanthropic Trust UK Other restricted grants NMM 600 1,200 4,000 905 55,077 (600> 1,200 (4,000) (905) (55,077) 5,547 10,683 5,000 (3,045) (10,683) (5,000) 2,502 6,000 5,790 377 80 50 (1,590) (30) (377) (80) (50) 4,410 5,760 10,000 (10,000) (1) (2,400) 2,400 12,322 291,861 {274,615) 29,568 Total Funds £78,891 £419,320 £{568,717) £{70,506) -69- TRAMSHED ARTS LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 17 FUNDS -continued Balance at 1 Aprll 2022 Balance at 31 March 2023 Income Expendlture Unrestricted Funds 142,986 286,392 (362,809) 66,569 Restricted funds Greenwich - Children's Theatre Festival Greenwich Community Innovation Grant Greenwich Core Funding My London Youth Social Action Mayors Young Londoners Fund Royal Parks Berkeley Homes 19,000 (19,000) 9,967 (9,967) 57,600 (57,600) (7,150) 10,278 3,128 6,886 (6,886) 8,150 3,437 10,100 (18,250) (3,437) RBG - Young Plumstead Mural Jubilee fund Kickstarter grants Other restricted grants Peter Harris Trust 5,100 (5,100) (9,800) (18,054) <43,844) (807) 9,800 18,054 43,845 10,000 9,193 26,965 185,252 {199,895) 12,322 Restricted capital grants Cockayne- Grants for the Arts 50,000 (50,000) 76,965 185,252 (249,895) 12,322 Total Funds £219,951 £471,644 £(612,704) £78,891 70- TRAMSHED ARTS LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 17 RESTRICTED FUNDS - continued Access Sport Small grant to support Inclusive Yoga for young people with Special Educational Needs Berkeley Homes Funds from the housing developer from their community investment programme to bring relevant, engaging theatre activities to Peabody sites for their residents and wider neighbourhoods. Bresaff One-off grant for In2Music, a free music programme for 13-18-year-olds to build confidence through creativity, writing and recording music with professional Grime artist Capo Lee. Cockayne - Grants for the Arts A donation in relation to the new Tramshed fit-out costs. Greenwich Festivals - Famlly Arts Festlval Grant to deliver a free family arts festival across weekends in July, both indoor and outdoor event. Greenwlch - Communlty Innovatlon Grant Funds administered by Live Well Greenwich to support Tramshed's Tramtastic Voices project, our programme of work with Adults with Learning Differences and Disabilities - Reach Theatre Company, Dramatic Vol￿S and Tramtastic Nights. Royal Parks 4-year commission awarded to Tramshed to deliver community engagement activities in Greenwich Park as a part of their Greenwich Park Revealed project. Funds were restricted to delivery of Youth Takeover Days, Bandstand Music Events and free Film in the Park nights. Peabody Funds from the Housing Association from their Community Investment Programme to bring relevant, engaging theatre activities to Peabody sites for their residents and wider neighbourhoods. RGB - One-off grant These funds were made available to Tramshed from the Commissioning team at Royal Borough of Greenwich Children's Services, restricled to the provision of Whatever Makes You Happy, a free programme for young people in Greenwich who have emotional and behavioural difficulties or special educational needs. John Thaw Foundation Grant towards the costs of the Whatever Makes You Happy project, giving young people with Adverse Childhood Experiences, mental health and wellbeing concerns space to take part in therapeutic, supported drama and art sessions. Peter and Teresa Harris Trust Grant to support the Reach Theatre Company of Adults with Learning DisabilitieslDifferences London Youth (Rise Up) Training for Tramshed's Participation Assistant and Operations Manager 71 TRAMSHED ARTS LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 17 RESTRICTED FUNDS - continued London Youth (Summer Skills) Grant to host free creative sessions for young people aged 11-16 during the summer holiday, project designed by a local young producer and co-delivered with the team at Tramshed. Royal Free NHS Trust Payments for the ThriveLDN project to support the wellbeing of young people and their parentslcarers through creative activities. Charlton Athletic Community Trust Grants for In2Music and Summer Acting Masterclasses. In2Music was a free music programme for 1 >18-year-olds to build confidence through creativity, writing and recording music with professional Grime artist Capo Lee. Summer Acting Masterclasses were free vocational skills development workshops for young creatives to learn from industry experts. Greater London Authorlty Grant to run a consultation session with the Caribbean Social Forum on behalf of the Commission for Diversity in the Public Realm Greenwich Mencap Reimbursements for the Tutor for Dramatic Voices sessions- drama for Adults with Learning Disabilities. Jack Petchey Foundation Internship programme award for the Tramshed Participation Assistant from March to July 2023 Jubilee Fund Grant to facilitate community group's celebrations for the Jubilee of Queen Elizabeth11 Kickstarter Grants Government funding in relation to support of staffing costs in recovery from the Covid-19 pandemic. Young Londoners Fund This fund is restricted to our youth arts programme for 12-18-year-olds and exclusively funds our In2Music programme, which includes the integration of young people from the Youth Offending Service into our arts programmes. Lewisham Youth Theatre Lead partner in the My London Social Action project, managing the funds from the Greater London Authority. The Tramshed Youth Advisory Panel planned aclivities and worked with other activists in Greenwich and Lewisham. Maximus - Local Impact Award Funds to pay for a Community Support Worker in Spring 2024, supporting skills development for young people and their parentslcarers Metro GADS I Charity Award to run a feasibility study with local Disabled artists and advocates as a steering board for a 3 year Disability Arts Festival in Greenwich 2024-6 -72- TRAMSHED ARTS LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 17 RESTRICTED FUNDS - continued National Lottery Community Organisations Cost of Living Fund Grant to support work at Tramshed to ensure local residents could access ServI￿S during the cost of living crisis. Activities underpinned through this award included free food for community members through work with the Woolwich Gudwara, Youth Drop In, Young Company and Caribbean Social Forum. National Theatre Connections Support to host the annual national festival of youth theatre. The award enabled Tramshed to bring the young companies together to see each other's work and socialise Morgan Sindall Ltd local developer working on the neighbouring new Leisure Centre site. Morgan Sindall have hired space for meetings and invested in our Dramatic Voices programme for Adults with Learning Disabilities. National Philanthropic Trust A grant from a donor advised fund in the Cazenove Capital Donor Advised Fund, administered by National Philanthropic Trust UK INPT UK). The donation was restricted to meet costs for the Youth Theatre programme in 2023124. Charltles Trust These relate to donations received during the year 73- TRAMSHED ARTS LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 18 ANALYSIS OF NET ASSETS BETWEEN FUNDS General funds Restricted funds 2024 Total funds Fixed assets Current assets Current liabilities Long term liabilities 5,811 23,757 5,811 127,640 {78,957) (125,000) 103,883 (78,957) {125,000) £{100,074} £29,568 £170,506) General funds Restricted funds 2023 Total funds Fixed assets Current assets Current liabilities 416 113,953 (47,800) 8,878 3,444 9,294 117,397 (47,800) £66,569 £12,322 £78,891 74- TRAMSHED ARTS LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 19 OPERATING LEASES At 31 March 2024 the total commitments under non-cancellable operating leases were as follows: 2024 Restated 2023 Expiry date.. Within one year Between two and five years Later than five years 13,921 46,800 509,925 16,142 13,921 521,625 £570,646 £551,688 During the year, the Charity incurred expenditure of £6,624 (2023 £8,645) relating to operating leases. 20 MEM8ERS' LIABILITY The Charitable Company is limited by guarantee and accordingly has no share capital. In the event of the charity being wound up the liability guaranteed by each member is £1. 21 RELATED PARTY TRANSACTIONS Jackie Smith, a Trustee, sits on the council of the Royal Borough of Greenwich. The charity received £84,200, (2023 - £130,322) in grant funding from the Royal Borough of Greenwich for its core activities and £53,57012023 - £57,600) for various restricted projects. For part of the prioryear, the charity occupied temporary accommodation at 41 Woolwich New Road, a building owned by the Royal Borough of Greenwich before returning to the Tramshed following its refurbishment. The use of the temporary accommodation was provided for £nil rental consideration (2023 - £nilJ. The rateable value of these rentals was £nil {2023 £21,467) as confirmed by the Royal Borough of Greenwich. This amount was recognised as a gift in kind within income and expenditure in 2023. The rent of the refurbished building from the 2nd November 2022 has been as a fit out rent to offset the costs incurred by the Royal Borough of Greenwich in refurbishing the building, The rent payable under the lease will be 300/0 of the market rental value for the term of the lease which was for the period The tenant will therefore benefit from a concession from the Royal Borough of Greenwich amounting to 70 % of the market rental value. This rent will be known as the concessionary rent and initially set at £12,000 per annum. The charity received £125,000 from the Royal Borough of Greenwich as a loan, this was subsequently waived post year end, see note 16. 75-