OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-03-31-accounts

Red Ladder Theatre Company Limited (The)

Charity number 1037653

A company limited by guarantee number 01258679

Annual Report and Financial Statements

for the year ended 31 March 2021

Red Ladder Theatre Company Limited (The)

Annual Report and Financial Statements for the year ended 31 March 2021

Contents Page
Trustees' report 2 to 16
Examiner's report 17
Statement of financial activities 18
Balance sheet 19
Notes to the accounts 20 to 24

Prepared by West Yorkshire Community Accounting Service

1

Red Ladder Theatre Company Limited (The)

Trustees' report for the year ended 31 March 2021

Reference and administrative details of the charity, its trustees and advisors

The trustees during the financial year and up to and including the date the report was approved were: Name Position Dates

Emma McDowell Fiona Gell Ryan Case Janet Alexander Tessa Gordziejko Martyn Potter Dan Bye Ben Rothera Craig Jefferies Jamie Jones-Buchanan Lucinda Yeadon Amy Leach Anna Turzynski Catherine Brennan Richard Lee Sheila Freeman

Co-Chair Co-Chair Co Vice-Chair Co Vice-Chair Chair

Appointed May 2021 Appointed June 2021 Appointed May 2021 Resigned June 2021

Resigned October 2021 Appointed June 2021 Appointed June 2021 Appointed June 2021 Appointed June 2021

Company Secretary Chris Lloyd Charity number 1037653 Company number 01258679

Registered in England and Wales Registered in England and Wales

Registered and principal address

Bankers

3 St Peters Building The Co-operative Bank York Street 19/20 Commercial Street Leeds LS9 8AJ Leeds LS1 6AL

Triodos Bank UK Ltd Deanery Road Bristol, BS1 5AS

Independent examiner

Simon Bostrom FCIE West Yorkshire Community Accounting Service Stringer House 34 Lupton Street Leeds LS10 2QW

2

Red Ladder Theatre Company Limited (The)

Trustees' report (continued) for the year ended 31 March 2021

Board of Trustees

Red Ladder Theatre Company (RLTC) recognises that the breadth of perspectives and experiences that diversity at board level can offer leads to a more resilient, inclusive and relevant organisation. In 2020-2021, the Board of Trustees (also referred to in this report as the Management Committee) began a significant programme of activity to better reflect the diverse lived experiences of the communities with whom the company works. This section provides an overview of the management, training and recruitment structures of the RLTC Board of Trustees, as well as an outline of activity that has taken place over the last 12 months (March 2020- July 2021) at governance level. The Board recognises that this activity is just one part of an ongoing overarching governance strategy which aims to offer broader opportunities for individuals to play a part in shaping the company’s future, both in terms of how the company is run, and through the stories that are told onstage.

Structure of governance, recruitment of Trustees and the Charity’s objects

The charity is a company limited by guarantee and was formed on 17 May 1976. It is governed by a memorandum and articles of association as amended by special resolution 20 January 1994 and 5 November 2015. The liability of the members in the event of the company being wound up is limited to a sum not exceeding £1. The management of the company is the responsibility of the Management committee members who are elected and co-opted under the terms of the company's governing documents. One third of the directors/trustees retire annually by rotation and are eligible for re-election. The constitution of the Committee is regularly reviewed and new appointments made after discussions regarding suitability for the specific needs of the company. The Company is established to promote, maintain, improve and advance education, particularly by the production of educational plays and the encouragement of the arts, including the arts of drama, mime, dance, singing and music, and to formulate, prepare and establish schemes therefore provided that all objects of the Company shall be of a charitable nature.

Governance & Management: introduction

The following information is made publicly available on their dedicated governance pages (redladder.co.uk/about/governance) to act as a resource for current and prospective trustees.

Additional Charity governance resources

Organisational structure and decision-making

The Trustees meet at least four times a year and are responsible for the strategic direction and policy of the company. The day to day responsibility for the company is delegated to the Senior Management Team of Red Ladder Theatre Company which, currently, comprises an Artistic Director and a Producer. The company also has a Chair and a Vice-Chair position voted on by the Board of Trustees (more detail on this below).

3

Red Ladder Theatre Company Limited (The)

Trustees' report (continued) for the year ended 31 March 2021

All board members are expected to read the papers in advance of board meetings and ask for further information and clarification when deemed necessary. Our board meetings currently take place on video conferencing software and we are in discussions about how we might continue as social distancing guidelines change. We aim to be as flexible as possible with meeting times and locations to suit individuals’ working patterns and commitments. It is also expected that board members will attend shows, and support the company and the staff team when needed.

As a registered charity, RLTC board members do not get paid to be on the board. However the company will reimburse any reasonable expenses (e.g. travel/childcare) incurred by (e.g.) attending board meetings and Red Ladder is committed to covering costs incurred by any additional (e.g. access) needs of prospective and current board members, such as BSL signing services.

In addition to board meetings, there are also two standing board subcommittees: the Finance Planning subcommittee, and the recently established Artistic Planning subcommittee (set up in 2020). Board members are invited to take part in these according to their skills and expertise, and also meet with staff members regularly when needed (e.g. for business planning, policy review etc).

Trustee roles & responsibilities

Below is an overview of what the Charity Commission set out, broadly speaking, as the six main duties for a Trustee of a charity. We have developed below what we believe this to mean in the context of RLTC more specifically:

But we think there are so many other things that are part of being a Red Ladder trustee, such as:

The Trustees meet at least four times a year and are responsible for the strategic direction and policy of the company. The day to day responsibility for the company is delegated to the Senior Management Team of Red Ladder Theatre Company which, currently, comprises an Artistic Director and a Producer. The Company also has a Chair and a Vice-Chair position voted on by the Board of Trustees.

4

Red Ladder Theatre Company Limited (The)

Trustees' report (continued) for the year ended 31 March 2021

Induction process for new trustees

Prospective board members may also meet one or more Board Members in advance, to hear more about what being a Board Member involves and be encouraged to ask further questions. Prospective Board Members are then invited to the next Board Meeting as an observer.

On acceptance from both parties the new Board Member will be invited to attend the following Board Meeting, at which they will be voted on to the Board. They will then be issued with a full induction pack, which includes the following information:

The Company Secretary will issue the following forms:

In addition to the information provided above, it is expected that additional resource and/or information will be needed to accommodate any additional access needs of prospective board members, to be mutually agreed between prospective board members and the existing board on a case-by-case basis. RLTC is also committed to supporting all board members to carry out their duties effectively, e.g. board members will be regularly offered the opportunity to attend board training through a qualified body.

Recruitment of new RLTC Trustees (2020-21)

In March 2020, the Artistic Director, Vice-Chair and Chair attended a ‘Diversifying Your Board training’ day ran by the Clore Foundation. In April – June 2020, the Vice-Chair led on a consultation with the Red Ladder Board of Trustees and staff team to comprehensively review all aspects of the Board’s operations, with a specific focus on broadening the diversity of the Board of Trustees. This resulted in an 8 page report of findings which presented an overview of:

In July 2020, this training and consultation process fed into the launch of an (ongoing) recruitment process for new board members, and a refresh of the Governance pages – a dedicated space on the Red Ladder website for details and information on becoming a trustee. By November 2020, we had had 14 people respond to our public call out, plus an additional list of potential candidates to contact, developed from a comprehensive board audit of skills and experience.

After an AGM and board meeting in November 2020, a working group from the Board interviewed potential candidates from a broad range of backgrounds and personal/professional experience. Successful candidates were asked to attend board meetings (in February and July 2021), and 7 new members subsequently joined the board.

5

Red Ladder Theatre Company Limited (The)

Trustees' report (continued) for the year ended 31 March 2021

In May 2021, it was agreed at a board meeting that the board would increase the maximum number of trustees from 12 to 17. This allowed the Trust the flexibility to make the most of the experience of skills of existing Trustees on the Board whilst allowing the new cohort time to embed themselves in the workings of the Company through training, induction and mentorship with existing trustees.

Summary of governance activity 2020-21

7 full Board Meetings took place between April 2020 - August 2021 and were approximately 2 hours long. With the exception of the board meeting as part of the Away Day, all board meetings were chaired by the [Acting] Chair and were held on video conferencing software, with (automatically-generated) captions and chat function enabled. Minutes from each meeting were generated and signed off by the board at the subsequent board meeting. In addition to the board meetings below, the board also met ad hoc when necessary, including the convening of the subcommittees and working groups (e.g. Artistic Planning Subcommittee; Finance & Risk Subcommittee; Board recruitment working group).

----- Start of picture text -----
Date [time] of board meeting Type No. of trustees
present [total
no. of trustees]
Thursday 9 [th] April 2020 [5pm] Extraordinary Board Meeting 7 [9]
Thursday 14 [th] May 2020 [5.30pm] Quarterly Board Meeting 9 [9]
Monday 3 August 2020 [5pm] Quarterly Board Meeting 6 [9]
Wednesday 18 [th] November 2020
Quarterly Board Meeting & AGM 8 [9]
[5pm]
Monday 8 [th] February 2021 [6pm] Quarterly Board Meeting 8 [9]
Monday 10 [th] May 2021 [5pm] Quarterly Board Meeting 8 [11]
Extraordinary Board Meeting [as part of
Sunday 27 [th] June 2021 [9.30am] 12 [16]
Away Day]
Monday 4 [th] October 2021 [5pm] Quarterly Board Meeting 9 [14]
----- End of picture text -----*

*This board meeting was called in response to COVID-19 national lockdown.

**One board member resigned after 6 years of service at the June 2021 Board Meeting.

In June 2021, 12 trustees (9 in person and 3 via Zoom) and 5 members of the Red Ladder staff team attended an Away Day, facilitated as a hybrid online/offline event. The Away Day was facilitated by an independent facilitator, who has a significant amount of expertise in both arts management and leadership, as well as policy and governance more broadly. The facilitator and the Acting Chair co-created the agenda for the day, with the opportunity for input from all board members and the executive team. The agenda for this development day covered a broad range of areas including:

6

Red Ladder Theatre Company Limited (The)

Trustees' report (continued) for the year ended 31 March 2021

It also included a dedicated section covering the Arts Council England’s investment principles, led by our Relationship Manager and began with a brief board meeting to vote on and welcome the new board members.

As well as providing a much-needed social and personal development opportunity for Trustees, a report was written from the findings of the day which will go on to inform the development of business plans on how the Board will continue to set, monitor and report on the targets outlined in the business plan in a way that is appropriate and realistic. This will inform, more broadly, considerations of targets that will stretch the company and create sustainable change and what new activities the company will undertake to support its ambitions.

In addition to the Away Day in June 2021, the following month saw 5 trustees attend a ‘Boards and Governance’ training workshop run by the Independent Theatre Council. Opportunities to attend training are regularly circulated within the board, and trustees are encouraged to attend any sessions that are relevant.

Related party relationships

Red Ladder Theatre Company has a strong, positive relationship with Arts Council England, the major funder of Red Ladder. Red Ladder's assigned officer from ACE Yorkshire is regularly kept informed of the artistic direction and ambition of the company and is an occasional observer at Board Meetings. ACE England continues to be extremely supportive of the charity and receives board papers and minutes of Trustee meetings. (See Risk Management - below)

Leeds City Council has elected an ex-officio representative to receive Board papers and attend Board meetings. Leeds City Council did not award core funding for the year in question, but is supportive of the company, and is regularly updated on artistic progress.

Risk management

The Management Committee members have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company, and are satisfied that systems and procedures are in place to mitigate our exposure to any major risks.

The COVID-19 pandemic outbreak has had a profound impact on the industry and the world at large. Red Ladder’s response is noted below.

That apart there have been no other major incidents to report during this financial period.

The company has comprehensive IT cover both remotely and onsite with virus cover through the server and for all incoming emails and web usage. Red Ladder also backs up server activity locally on an external hard drive that is removed off the premises each day and, also, to the Cloud daily.

The company also has a robust Financial Control Procedures in place. A Finance & Risk Management Subcommittee meets regularly prior to board meetings and, when needed, at short notice to assess new opportunities and threats to discuss the latest financial figures, add context and report to the full board. This has the advantage of crystallising key information for board members and reducing duplication during meetings. This committee consists of four Trustees with a range of skill, knowledge and experience in management accounting and financial matters.

These meetings are chaired by Red Ladder’s producer who prepares and circulates monthly cash-flows and management accounts to this committee with updated budgets and details of any new opportunities and/or threats that may arise.

7

Red Ladder Theatre Company Limited (The)

Trustees' report (continued) for the year ended 31 March 2021

The reserves policy is in place to ensure there are sufficient reserves available to finance adequately, for at least three months, the operation of the company in the event of unforeseen circumstances. This reserve may be depleted to satisfy scheduled temporary liquidity deficiencies. Currently three months trading equates to £60,000 and this is updated on a monthly basis and is calculated on a rolling annual timeline. This figure provides a base layer of financial cover. The ambition is to achieve a reserves figure of £115,000 which is deemed sufficient to ensure the continued liquidity of the company should Red Ladder fail to maintain core funded status with Arts Council, England. The unrestricted reserves for 2020/2021 were in the region of £163,000, some £48,000 over the higher of these two thresholds. This is mainly due to the Government’s furlough scheme and the tour of My Voice was Heard being postponed in December 2020. The budget for 2021/22 has these additional reserves being utilised on the artistic programme bringing that levels back to those as stated in the policy.

Red Ladder has survived the first eighteen months of the pandemic due mainly to core funding from the Arts Council and the Government’s Job Retention Scheme (JRS) - furlough - which enabled all employees on the Company’s payroll and core freelancers to be paid in full throughout the financial year. Employees on the payroll have been able to work part time where possible with the financial support of the flexible furlough scheme (JRS). There have also been three small-scale grants awarded by Leeds City Council for fixed building costs. The Company applied unsuccessfully for an Arts Council Creative Recovery Fund (CRF) award in July 2020 and, subsequently, the Board decided against applying during the second round of CRF applications in January 2021.

Arts Council England have added an additional year of funding for current National Portfolio clients (of which Red Ladder is one). The company will be applying for this additional year in September 2021 and, if successful, will take the core funding cycle to 31 March 2023.

During the current financial year (2021/22) both the Finance & Risk Management Committee and the Trustees have received monthly cash flow forecasts. There has been one annual budget update since the original annual budget was approved in February 2021. The restructured annual budget for 2021/22 as of 30 June 2021 commits just under £39,000 of unrestricted reserves to support the work of the Company; this is a £7,000 reduction from the original budget due, mainly, to the continued support of the JRS furlough scheme. This level of activity is forecast to result in the company having just over £123,500 in unrestricted reserves by 31 March 2022.

Staffing

Red Ladder continued to employ two members of staff on full time salaries throughout the 2020/2021 financial year: the Artistic Director (Rod Dixon) and Producer (Chris Lloyd) and the Marketing Manager (Sasha Hawkes) on a 0.5 FTE basis. The Artistic Director and Marketing Manager went on to full time furlough in May 2020 and in July 2020 a phased return to work was instigated. By November 2020 both employees were virtually back up to full working hours. However, as a result of the second national lockdown, all three staff members have been working on a flexible furlough basis since December 2020 and will continue to do so until the scheme ends in September 2021 or until such a time as they are able to work full time once again.

There were a further seven part time freelancers supporting the work of the company covering press and PR, social media, producing, fundraising, technical and project management (Homebaked x 2). In March 2020 our Press and PR manager, Amanda Trickett, decided to step down and we welcomed Faye Dawson on to the freelance rota as our new Press & PR Consultant.

All pay rolled and permanent freelance staff took part in staff appraisals in February 2021 led by a member of the Board. The Board will continue to run annual appraisals with all staff (on payroll and freelance) as well as having regular communications with the Artistic Director and Producer.

8

Red Ladder Theatre Company Limited (The)

Trustees' report (continued) for the year ended 31 March 2021

Objectives and activities

Redefining Red Ladder:

Over the closing months of 2020, we carried out an extensive exercise to dig into Red Ladder’s purpose, ethos, and unique offer as a theatre company. This exercise has been integral to our current planning as we look towards the next National Portfolio, particularly given the impetus placed in the Investment Principles on understanding how an organisation is perceived, by those both in and outside of it.

We gathered together and interrogated all the ways that the company talks about itself – across social media, the website, in funding applications, on press releases - as well as canvassing opinion amongst those who currently and have previously engaged with the company. At Board level, we had previously spoken about a desire to get better at expressing what we do, both accurately and in a way that represents the work the company has made in recent years, rather than what the company was 50 years ago. We aimed to identify the unifying strands across our activity, and develop a new confidence in our own identity.

This process of ‘Defining Red Ladder’ intended to:

With these practical outcomes:

Red Ladder Vision:

We make theatre about how we live now, and how we hope to live. The world has got to change, and the future is not yet written. The shared experience of theatre is about transformation and imagination, where we can collectively invent a better, kinder, fairer way to be.

Red Ladder Mission:

We make theatre that gives a platform to voices that are rarely heard, and stories that are overlooked. Plays that invite you to lean in, identify, punch the air, laugh with the stranger next to you, cry in the dark, and want to take action.

We make theatre in Northern England but our world is huge and we can soar across borders. We are forward-looking, but not forgetful. We are full of heart, humour and big ideas.

We make new plays, empowering, supporting and inspiring writers and theatre artists to tell stories that start on their (often Northern, often working class) doorsteps and take radical leaps of imagination, challenging the systems that marginalise and oppress, and make inclusive, inquisitive, embracing, bracing, laughing, crying, thinking, drinking, dancing, singing theatre.

We will go wherever the audience is – to pubs and clubs, to housing estates and to theatres with velvet seats. We’ll meet you there, for a good night out that ends with you stepping back out into a world that now feels different, full of possibility, and capable of transformation. And has you singing all the way home.

These principles and aims are the lenses through which we see our entire programme of work and have driven all company activity for the year April 2020 – March 2021. They will continue to guide the direction of the company and inform our trajectory throughout this Arts Council National Portfolio funding period and beyond.

9

Red Ladder Theatre Company Limited (The)

Trustees' report (continued) for the year ended 31 March 2021

Strategies for achieving objectives

Artistic Programme – April 2020 – March 2021 - Achievements and performance

The beginning of the financial year saw numerous performances postponed and cancelled as the Covid-19 pandemic started to take hold. Smile Club, The Damned United, Wrong 'Un and our co-production with family theatre company, Wrongsemble, The Not So Ugly Sisters all suffered similar fates.

Smile Club by Andrea Heaton and Adam Z Robinson

Set in a near future this one-woman show about systemic sexism in society opened at Leeds Playhouse in March 2020 a week before the first national lockdown. It completed a week of touring before all theatres were forced to close. Although short lived the show was acclaimed by critics including a glowing 4 star review in The Guardian.

It is a powerful piece of work and one that Red Ladder will revisit by filming it for audiences to download. Writers Andrea Heaton and Adam Z. Robinson have also secured Arts Council funding to rewrite as an audio podcast series which Red Ladder will produce.

Connected by Chris O’Connor and Paul Fox

During the first national lockdown we commissioned local writer Chris O’Connor to develop a topical and humorous podcast series of short episodes tracing the beginning of the pandemic through the lockdown. Working in partnership with the men’s mental health podcast Mantality and its presenter, rugby league player Stevie Ward, ‘Connected’ was listened to by 10,000 podcast subscribers and was very well received. The piece was co-written by local writer and actor, Paul Fox, who also performed in the podcasts alongside Stevie Ward himself.

My Voice Was Heard But It Was Ignored by Nana-Kofi Kufuor

We brought forward this new play about the wrongful apprehension of a young black school student which had been planned programme for 2021 as the context became extremely relevant and more urgent as a response to the Black Lives Matter Movement which responded with new protest marches after the murder in America of George Floyd.

In autumn 2020 the lockdown was eased and we were able to rehearse with Covid safety restrictions. The production went as far as dress rehearsal at Leeds Playhouse Courtyard but then the second lockdown prevented opening. The production will be remounted in November 2021 on the same stage, and with more support from Leeds Playhouse. James Brining - Leeds Playhouse's Artistic Director - saw the dress rehearsal and is keen that his building is associated with the play.

10

Red Ladder Theatre Company Limited (The)

Trustees' report (continued) for the year ended 31 March 2021

Participation and Engagement

Artist Development

In summer of 2020 the Artistic Planning Committee, a sub-group of the Red Ladder Board, plus staff and external artists, was set up and meets online via Zoom sporadically - when and if the Artistic Director needs support or advice regarding the artistic programme.

Although the pandemic restricted virtually all face to face participation and engagement, Red Ladder still mentored and supported the following artists and organisations: Saoirse Teale, Clasp Theatre, Arts At The Arms, Kerry Wright and Nicki Davy.

Red Grit Training

Unfortunately, due to the epidemic and the impossibility of structured courses operating during the year all Red Grit courses were put on hold.

Key Developments for Red Ladder Theatre Company

The collaboration with Liverpool's Royal Court for Homebaked (September 2021) will provide an amazing platform for Red Ladder to showcase its ability to play the biggest stages in the country. The four and a half week run will be the highest profile run in the company's history.

The burgeoning relationship with Leeds City College that saw us rehearse Smile Club in 2020 there has developed to the college hosting two weeks of rehearsals and filming as part of the Digital Streaming initiative.

Later in 2021 it is hoped that an embryonic relationship with a triptych of venues (Derby Theatre, Keswick's Theatre by the Lake and Oldham Coliseum) will result in a commission for an emerging writer to have their work produced and presented on mid to large scale stages in 2024.

Collaborations and Partnerships

In addition to those collaborations mentioned above Red Ladder, continue to work closely with Leeds Playhouse on presenting our work (The Damned United - June 2021 and My Voice Was Heard November 2021) and also hosting other events and performances set in community venues. We are also in talks with the Playhouse to be the platform to host our three shows as part of the Digital Streaming project.

The Red Ladder Local circuit has cemented excellent relations with the three hub venues (Wakefield Theatre Royal, Barnsley Civic and Leeds Playhouse) who support the scheme through their marketing and box office departments.

Red Ladder was approached to be one of fifteen companies supporting Sphinx Theatre Company to mark their 30th year of making work. The landmark Sphinx 30 programme will also support female playwrights selected via an open call, designed to ensure all talent across the UK is reached and that writers at all stages of their careers are included, which will be fully funded by Sphinx with Arts Council England support.

Red Ladder are also working with Silent Uproar (a Hull Based new writing company) to encourage and mentor new writers with a view to producing their work in the future.

Due to the increased time and capacity, many in the industry have over the last 18 months resurrected or formed a number of networking groups. These supported fellow companies as well as interacting with trade bodies like the Arts Council, The Audience Agency and the Independent Theatre Council to try and adopt a cohesive and supported approach to minimise damage and risk caused by the pandemic. These include a quite powerful Producing & Touring Companies Network facilitated by Fuel Theatre Company, The Yorkshire National Portfolio Organisations facilitated by Pilot Theatre Company and The Yorkshire Touring Network - facilitated by Unlimited Theatre Company. Wherever possible the payrolled staff have endeavoured to attend these meetings to keep abreast of initiatives around anti-racism, Arts Council Cultural recovery initiatives, ableism and trying to keep a dialogue going between touring companies and venues.

During the year the Company has forged strong partnerships with leading educational establishments in the region including Backstage Academy, Wakefield College and Leeds City College. These sit aside existing relationships with the University of Leeds, Leeds Beckett University and conservatoires: Northern School of Contemporary Dance and Leeds College of Music. These links help support the progression routes for students and, hopefully, encourage more to stay in Leeds once they finish their studies.

11

Red Ladder Theatre Company Limited (The)

Trustees' report (continued) for the year ended 31 March 2021

Future Developments

During June, July and September 2021 we have filmed three different productions in order to capture them for posterity and for archiving purposes as well as an income stream via paid distribution. We are working in partnership with Pilot Theatre and Leeds City College to film three Red Ladder ‘hits’ - The Damned United, Smile Club and Glory. These filmed versions will then be launched as digital downloads.

The Damned United

In July 2021 The Damned United toured, fulfilling some of the postponed performances from a year earlier and also played in a couple of venues new to Red Ladder. The old and new venues included Leeds Playhouse, the main stage at York Theatre Royal as well Mansfield’s Palace Theatre and The Gala Theatre in Durham.

Homebaked the Musical by Boff Whalley

The co-production of this new large-scale musical with Liverpool’s Royal Court will premiere in September 2021 having originally been scheduled for May 2021.

Originally, the piece was going to be co-written by Rebekah Harrison and Boff Whalley (formally of the band Chumbawamba) but, due to other commitments, it was decided that Boff would undertake the whole of the script and song writing.

Research and interviews for the piece were delayed by the pandemic restrictions but once these were relaxed the writer, Boff Whalley, was able to meet with the community and gather material from the true story. At this stage, the script is in draft form but has been very well received. The partnership with the Royal Court is very positive and there is ambition between our two organisations to make this a very successful show with national profile and recognition and the potential to transfer to London at a future date.

My Voice Was Heard But It Was Ignored by Nana-Kofi Kufuor

This is the remounting of the piece that was curtailed due to the second lockdown (see Artistic Activity). Both previous cast members are available, as is director Dermot Daly.

The show will open at Leeds Playhouse on 11 November 2021 and then go out on tour - finishing at The Crucible in Sheffield at the end of the month.

Taxi

Since 2019, Rod Dixon has been researching a new piece of work with choreographer Dougie Thorp. This piece, based on Doug’s real experiences as a taxi driver, will be entitled Taxi! and will be a highly physical hybrid of theatre, film and dance. The piece will not tour but like previous successes (The Shed Crew 2017, Mother Courage 2018) will be presented in a warehouse or other found space and run for up to two weeks in Leeds. The piece is an opportunity to engage with other Leeds based organisations (Doug’s company Mad Dog Dance Theatre and his producer Spin Arts), with the potential to tie in with Leeds’s year of culture: Leeds2023. The date for production will be either 2022 or 2023. Alice Barber, Red Ladder’s Creative Producer, will lead on this project and the ambition is to work with Dick Bonham’s organisation, which uses a disused mill in Farsley. The infrastructure built into the space for Taxi will be used for other performances either by other artists; local, regional, national and, possibly, international and/or alongside extant pieces of Red Ladder work such as Glory or Smile Club.

The Not So Ugly Sisters - Wrongsemble

We are also co-producers on a family show made by local company Wrongsemble. Their show, The Not So Ugly Sisters, is booked to tour from Easter 2022 following the postponement in April 2020.

Participation & Engagement

Throughout summer 2021, and after rewriting the company strategy for Artist Development, Rod Dixon has worked with several artists to support the development of their work including: Sandrine Monin (dancer), Nicky Davy (performer/writer), Jake Evans (Drag Artist), Lisa Howard (actor), Alex Moran (theatremaker), Kate Martinwood (playwright).

12

Red Ladder Theatre Company Limited (The)

Trustees' report (continued) for the year ended 31 March 2021

Financial review

Financial results

The net income for the year was £7,065 all relating to unrestricted funds.

Principal funding

Principal funding was received from Arts Council England, England via National Portfolio funding and Project Grants. A summary of funding is set out in note 2 to the financial statements.

Following the outbreak of the pandemic in March 2020, the Arts Council quickly made a decision to extend funding for National Portfolio clients for a further year on completion of an updated artistic programme supported by a satisfactory business plan. The deadline for this submission is mid-September 2021.

Reserves policy

The reserves policy is to ensure there are sufficient reserves available to finance adequately, for at least three months, the operation of the company in the event of unforeseen circumstances. This reserve may be depleted to satisfy scheduled temporary liquidity deficiencies. Currently three months trading equates to £60,000 and this is updated on a monthly basis and is calculated on a rolling annual timeline.

This is a minimum requirement to mitigate an unexpected financial emergency. The Management recognise that in times of particular funding uncertainty around our core funder, it is prudent to build reserves above this to enable the company to survive and deliver our mission in the event of loss of a major element of our grant income and it has therefore been a stated aim to rebuild company reserves over the current Arts Council funding period, to bring them to a level which would withstand such longer term changes to our business model. The ambition is to sustain reserves that allow the company to function fully for a one year period outside of the Arts Council of England's National Portfolio and this has been set at £115,000. The company had succeeded in this during the year to 31 March 2021, and reserves at year-end stand at £162,528.

The revised budget for 2021 / 2022 shows the utilisation of approximately £39,000 to discharge the Company's body of work which would bring unrestricted reserves down to £123,528 as at 31 March 2022.

Covid-19 and going concern

Whilst the activities of the charity have been affected by the coronavirus pandemic, the trustees have considered the financial position of the charity and concluded that there are no material uncertainties so significant as to cast doubt over the ability of the charity to continue as a going concern.

Chair's statement

The Board of Trustees presents this report as an accurate representation of activity which has been delivered during the financial year in question.

2020-21 has been an unprecedented year spent predominantly in a state of international emergency as a consequence of the global Covid-19 pandemic. Within the broader challenges and extensive societal pressures this threat brings to the very fabric of our society lies the difficult and uncomfortable truth that it is those communities that have historically been oppressed and marginalised by systemic white supremacy, ableism, homophobia, transphobia, prejudice and ignorance who have been amongst the hardest hit. Therefore it seems that Red Ladder’s mission to continue to tell stories that challenge these systems that marginalise and oppress is more crucial than ever.

13

Red Ladder Theatre Company Limited (The)

Trustees' report (continued) for the year ended 31 March 2021

Yet it is also the time for the company, along with the entire arts and cultural sector, to urgently address its shortcomings by way of inclusion, representation and diversity, to tackle these deep-rooted issues with meaningful action and change and to ask questions, collaborate and find solutions, over simply offering empty promises and virtue signalling. Despite its challenges, this year has enabled the company to begin this process, including a review of the vision and mission of the company, the implementation of a flatter, more diverse governance structure, and recruitment of new board members. We acknowledge as a board and company team, some of whom are freelance practitioners themselves, that the pandemic continues to do immeasurable harm to the independent and freelance sector. So in addition to honour all our financial project commitments, we also made the decision to offer a matched pension contribution for all our freelancers (both within our core team and those on projects), and continued to maintain our freelance rates and hours of pay throughout the pandemic.

Throughout this year, the company has prioritised business planning processes, aiming to build our resilience as a company, including a concerted and successful effort to increase the diversity of our board of Trustees and ensure inclusive and accessible communications and activity. The creation of the Artistic Planning Committee last year, led by our Artistic Director, has enabled us an additional space for discussions around how our creative activities and output can further benefit from a diverse and inclusive artistic practice. As we enter into a new year, we look to further this process, developing our working practices to ensure our decision-making processes at governance and executive level especially, are rigorous and inclusive of the diverse points of view and lived experience we are lucky enough to benefit from.

Throughout lockdown, members of the team continued their important work with emerging artists and companies - providing support from developing funding bids, to directorial and dramaturgical support in the rehearsal room. The podcast series of new writing shorts ‘Connections’ kept audiences entertained online, and the company were successful in generating funding to film three Red Ladder productions, to enable continued work with artists and creatives in a sector as well as opening up a medium for audiences who may not be able to attend theatre in person to access high-quality Red Ladder shows online.

Despite being able to take advantage of the Government’s nationwide furlough scheme, and having the support of our core funders - in particular Arts Council England and Leeds City Council, this year has been a challenging one. The level of the company’s reserves has been impacted, as large proportions of the company’s activity has had to be reconfigured or cancelled entirely. Due to venue closures and the enforcement of a national lockdown in March 2020, the company was forced to cancel a significant portion of the extensive national tour of new feminist dystopian thriller Smile Club. Despite a loosening of restrictions over summer, the country was hit with another prolonged lockdown in Autumn 2020, which forced the cancellation of the premiere of the play by ‘My Voice Was Heard But Was Ignored’, which was due to take place in a socially distanced auditorium at the Leeds Playhouse, after having been painstakingly rehearsed and produced following strict Covid-19 preventative protocols.

Despite all this, the Board and staff have met regularly to monitor and manage cash flow, and invest the company’s charitable funds to realise its mission and charitable objects. While the Board has supported decisions to apply for discretionary funds that have been made available throughout the pandemic, we have not received, or not been found eligible for, any significant amounts of emergency funding. We are nevertheless grateful to core funders, in particular Arts Council England and Leeds City Council, with whom we have been able to continue and develop a strong strategic partnership in spite of the challenges this year’s unprecedented events have created. We are also extremely grateful to our dedicated group of Ladderista supporters, who have been unwavering in their support of the company through this difficult time. The company is thankful to our independent examiners West Yorkshire Charities Accounting Service (WYCAS) for their prudent and consistent guidance in the presentation of management/year end accounts, to ensure the company’s full compliance with statutory charitable accounting principles.

14

Red Ladder Theatre Company Limited (The)

Trustees' report (continued) for the year ended 31 March 2021

The unprecedented events of the year has necessitated a somewhat flexible approach. It should not go without saying that the admirable work of the company’s core team of staff and freelancers, led by Rod Dixon and Chris Lloyd, has been tireless, generous and determined, despite the inevitable strains and pressures of working in unpredictable and often difficult circumstances. Particular thanks to team members past and present: Sasha, Alice, Amanda, Faye, Tom, Chris O, Rob, Sam, Shamima, Leon and no small thanks too to the countless teams of creative practitioners and artists who we have collaborated with us this year, and to those communities and audiences who have supported the company throughout this time.

We are endlessly grateful to the work of our Chair, Tessa Gordziejko, who after 6 years of service as Chair and Trustee, stepped down from the role. So on a more personal note, a final thanks to the whole Red Ladder team - staff team members, freelancers, and board members alike, including those who have worked with us this year, and those that continue to work with us, for their support and encouragement throughout my year-long tenure as Acting Chair. I look forward to continuing to learn and grow with you all and the Co-Chairs and Vice-Chairs, to safeguard Red Ladder’s future as a company producing new theatre that contributes to social change and global justice.

Emma McDowell - Acting Chair, & Trustee August 2021

15

Red Ladder Theatre Company Limited (The)

Trustees' report (continued) for the year ended 31 March 2021

Statement of trustees' responsibilities

The trustees (who are also the directors for the purposes of company law) are responsible for preparing the Trustees report and the financial statements in accordance with the applicable law and UK Accounting Standards.

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

select suitable accounting policies and apply them consistently;

observe the methods and principles in the Charities SORP;

make judgements and estimates that are reasonable and prudent;

state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

prepare the accounts on a 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 accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (Charities SORP (FRS102)), and in accordance with the special provisions of the Companies Act 2006 relating to small companies.

Signed on behalf of the board of trustees on 22/11/2021

Emma McDowell (Trustee)

16

Red Ladder Theatre Company Limited (The)

Independent examiner's report to the trustees of Red Ladder Theatre Company Limited (The)

I report to the charity trustees on my examination of the accounts of the charitable company for the year ended 31 March 2021, which are set out on pages 18 to 24.

Responsibilities and basis of report

As the charity's trustees of the charitable company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Simon Bostrom FCIE

23/11/2021

West Yorkshire Community Accounting Service

Stringer House 34 Lupton Street Leeds LS10 2QW

17

Red Ladder Theatre Company Limited (The)

Statement of Financial Activities

(including summary income and expenditure account) for the year ended 31 March 2021

Notes
2021
Unrestricted
funds
£
Income from:
Grants and donations
(2)
171,906
Theatre tax relief
13,232
Income from performances
200
Other earned income
1,591
Bank interest
81
Total income
187,010
Expenditure on:
Production costs
Performing and stage management fees
35,887
Auditions
-
Sets props and costumes
4,306
Venue and rehearsal room hire
925
Creative fees
15,171
Technical equipment hires and consumables
247
Writers' fees, royalties and commissions
10,683
Accommodation, allowances and travel
1,776
Evaluation and monitoring
368
Production miscellaneous
725
Marketing and publicity
8,912
Overheads
Salaries, NI and pensions
(3)
72,503
Rent and rates
1,387
Insurance
1,133
Repairs and maintenance
12
Phone and internet
1,405
Computer software and maintenance
3,337
Printing, postage and stationery
135
Trade subscriptions
886
Sundry expenses
1,229
Motor expenses
1,925
Travel and subsistence
-
Consultancy fees
10,546
Training and conferences
2,959
Bank charges
25
Independent examination
1,350
Depreciation
2,113
Total expenditure
179,945
Net income / (expenditure)
7,065
Fund balances brought forward
158,695
Fund balances carried forward
(4)
165,760		 2021
Restricted
funds
£
32,988
-
-
-
-
32,988
-
-
-
-
-
-
-
-
-
-
-
30,540
2,448
-
-
-
-
-
-
-
-
-
-
-
-
-
-
32,988
-
-
-		 2021
Total
funds
£
204,894
13,232
200
1,591
81
219,998
35,887
-
4,306
925
15,171
247
10,683
1,776
368
725
8,912
103,043
3,835
1,133
12
1,405
3,337
135
886
1,229
1,925
-
10,546
2,959
25
1,350
2,113
212,933
7,065
158,695
165,760		 2020
Total
funds
£
330,416
35,980
15,539
13,500
449
395,884
32,637
156
13,152
4,950
11,564
1,955
9,333
5,563
9,581
3,455
31,976
94,897
4,334
1,434
6
1,728
3,471
356
965
604
1,703
1,126
16,146
1,345
25
2,045
968
255,475
140,409
18,286
158,695

All incoming resources and resources expended derive from continuing activities.

18

Red Ladder Theatre Company Limited (The)

Balance sheet

as at 31 March 2021
2021
Unrestricted
£
Fixed assets
Tangible assets
(5)
3,232
Total fixed assets
3,232
Current assets
Debtors and prepayments
(6)
17,165
Cash at bank and in hand
(7)
150,686
Total current assets
167,851
Current liabilities:
amounts falling due within one year
Creditors and accruals
(8)
5,323
Total current liabilities
5,323
Net current assets / (liabilities)
162,528
Net assets
165,760
Funds
Unrestricted funds
165,760
Restricted funds
-
Total funds
165,760		 2021
Restricted
£
-
-
2,754
(2,754)
-
-
-
-
-
-
-
-		 2021
Total
£
3,232
3,232
19,919
147,932
167,851
5,323
5,323
162,528
165,760
165,760
-
165,760		 2020
Total
£
3,668
3,668
18,833
145,418
164,251
9,224
9,224
155,027
158,695
158,695
-
158,695

For the year ending 31 March 2021 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the charitable company to obtain an audit of its accounts for the year in question in accordance with section 476. The trustees (who also the directors for the purposes of company law) acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime and with FRS 102 (effective January 2019).

The financial statements were approved by the board of trustees on 22/11/2021

Emma McDowell (Trustee)

19

Red Ladder Theatre Company Limited (The)

Notes to the accounts

for the year ended 31 March 2021

1 Accounting policies

Basis of accounting

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) and with the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102. There has been no change to the accounting policies since last year.

No changes have been made to the accounts for previous years.

Going concern

The trustees are satisfied that there are no material uncertainties about the charity's ability to continue.

Incoming resources

All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity becomes entitled to the resources, it is more likely than not that the trustees will receive the resources and the monetary value can be measured with sufficient reliability.

Grants and donations

Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources.

Where grants are related to performance and specific deliverables, they are accounted for as the charity earns the right to consideration by its performance.

Expenditure and liabilities

Expenditure is recognised on an accrual basis as a liability is incurred. Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out the resources and the amount of the obligation can be measured with reasonable certainty.

Taxation

As a charity the organisation benefits from rates relief and is generally exempt from income tax and capital gains tax but not from VAT. Irrecoverable VAT is included in the cost of those items to which it relates.

Tangible fixed assets

Tangible fixed assets are capitalised and included at cost including any incidental expenses of acquisition. Gifted assets are shown at the value to the charity on receipt.

Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a straight line basis over their expected useful economic lives as follows:

Lighting, sound and visual equipment: at 25% reducing balance Motor vehicles: over 5 years, straight line Office equipment: at 25% reducing balance Computer equipment: written off in the year

20

Red Ladder Theatre Company Limited (The)

Notes to the accounts

for the year ended 31 March 2021

1 Accounting policies continued

Pensions

The charity operates a defined contribution scheme for the benefit of its employees. The costs of contributions are recognised in the year they are payable.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.

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

Leases

Rents under operating leases are charged on a straight line basis over the lease term or to an earlier date if the lease can be determined without financial penalty.

21

Red Ladder Theatre Company Limited (The)

Notes to the accounts continued

for the year ended 31 March 2021

2 Grants and donations
2021
Unrestricted
funds
£
Arts Council England (ACE)
168,036
HMRC Job Retention Scheme (JRS)
-
Leeds City Council
-
Leeds Community Foundation
-
Home Office (Building a Stronger Britain)
-
Paul Hamlyn Foundation
-
Wades Charity
-
Other donations
3,870
171,906
fo correct
3 Staff costs and numbers
Gross salaries
Social security costs
Pensions		 2021
Restricted
funds
£
-
30,540
2,448
-
-
-
-
-
32,988		 2021
Total
funds
£
168,036
30,540
2,448
-
-
-
-
3,870
204,894
2021
£
93,736
5,299
4,008
103,043		 2020
Total
funds
£
274,167
-
-
10,000
15,242
24,000
3,000
4,007
330,416
2020
£
84,952
5,937
4,008
94,897

The average number employees during the year was 3, being an average of 2.5 full time equivalent (2020: 3, 2.5 FTE). There were no employees with emoluments above £60,000.

Defined contribution pension scheme
Costs of the scheme to the charity for the year
Amount of any contributions outstanding at the year end
4 Restricted funds
Balance b/f
Incoming
Outgoing
£
£
£
HMRC JRS
-
30,540
30,540
LCC covid relief
-
2,448
2,448
-
32,988
32,988
Fund name
Purpose of restriction
HMRC JRS
Towards furloughed staff employment costs
LCC covid relief
Towards property related costs		 2021
£
4,008
334
Transfers
£
-
-
-		 2020
£
4,008
334
Balance c/f
£
-
-
-

22

Red Ladder Theatre Company Limited (The)

Notes to the accounts continued

for the year ended 31 March 2021

5
6
7
**8 **		 Tangible assets
Cost
At 1 April 2020
Additions
At 31 March 2021
Depreciation
At 1 April 2020
Charge for year
At 31 March 2021
Net book value
At 31 March 2021
At 31 March 2020
Debtors and prepayments
Debtors
Prepayments
Accrued income
Cash at bank and in hand
Cash at bank
Cash in hand
Creditors and accruals
Creditors
Accruals		 8,296
1,062
9,358
8,296
1,062
9,358
-
-
Computer
equipment		 2,856
425
3,281
2,725
139
2,864
417
131
Office
equipment		 £
800
-
800
390
82
472
328
410
Motor
vehicles		 £
23,731
190
23,921
20,604
830
21,434
2,487
3,127
2021
£
-
3,077
16,842
19,919
2021
£
147,758
174
147,932
2021
£
3,698
1,625
5,323
Lighting
and sound		 Total
£
35,683
1,677
37,360
32,015
2,113
34,128
3,232
3,668
2020
£
4,472
2,424
11,937
18,833
2020
£
145,029
389
145,418
2020
£
7,449
1,775
9,224

9 Related party transactions

Trustee expenses

No trustee received any expenses during this year or the previous year.

Trustee remuneration and benefits

No trustee received any remuneration or benefits during the year (previous year: one trustee was paid £6,210 in respect of marketing services).

Remuneration and benefits received by key management personnel

The total payments to key management personnel were £84,178 (previous year: £84,178). No trustee received any remuneration or benefit in this capacity during this or the previous year.

There were no other related party transactions.

23

Red Ladder Theatre Company Limited (The)

Statement of Financial Activities including comparatives for all funds (including summary income and expenditure account) for the year ended 31 March 2021

2021
2020
Unrestricted Unrestricted
funds
funds
£
£
Income
Grants and donations
171,906
169,007
Theatre tax relief
13,232
35,980
Income from performances
200
15,539
Other earned income
1,591
13,500
Bank interest
81
449
Total income
187,010
234,475
Expenditure
Production costs
Performing and stage management
35,887
22,826
Auditions
-
101
Sets props and costumes
4,306
12,361
Venue and rehearsal room hire
925
4,050
Creative fees
15,171
9,939
Technical equipment hires
247
1,955
Writers' fees and commissions
10,683
9,286
Accommodation & travel
1,776
4,561
Evaluation and monitoring
368
6
Production miscellaneous
725
2,863
Marketing and publicity
8,912
22,513
Overheads
Salaries, NI and pensions
72,503
45,444
Rent and rates
1,387
4,334
Insurance
1,133
1,434
Repairs and maintenance
12
6
Phone and internet
1,405
1,728
Computer maintenance
3,337
3,471
Printing, postage and stationery
135
356
Trade subscriptions
886
965
Sundry expenses
1,229
604
Motor expenses
1,925
1,703
Travel and subsistence
-
1,126
Consultancy fees
10,546
8,985
Training and conferences
2,959
1,345
Bank charges
25
25
Independent examination
1,350
2,045
Depreciation
2,113
968
Total expenditure
179,945
165,000
Net income / (expenditure)
7,065
69,475
Transfers between funds
-
70,934
Net movement in funds
7,065
140,409
Fund balances brought forward
158,695
18,286
Fund balances carried forward
165,760
158,695		 2021
Restricted
funds
£
32,988
-
-
-
-
32,988
-
-
-
-
-
-
-
-
-
-
-
30,540
2,448
-
-
-
-
-
-
-
-
-
-
-
-
-
-
32,988
-
-
-
-
-		 2020
Restricted
funds
£
161,409
-
-
-
-
161,409
9,811
55
791
900
1,625
-
47
1,002
9,575
592
9,463
49,453
-
-
-
-
-
-
-
-
-
-
7,161
-
-
-
-
90,475
70,934
(70,934)
-
-
-		 2021
Total
funds
£
204,894
13,232
200
1,591
81
219,998
35,887
-
4,306
925
15,171
247
10,683
1,776
368
725
8,912
103,043
3,835
1,133
12
1,405
3,337
135
886
1,229
1,925
-
10,546
2,959
25
1,350
2,113
212,933
7,065
-
7,065
158,695
165,760		 2020
Total
funds
£
330,416
35,980
15,539
13,500
449
395,884
32,637
156
13,152
4,950
11,564
1,955
9,333
5,563
9,581
3,455
31,976
94,897
4,334
1,434
6
1,728
3,471
356
965
604
1,703
1,126
16,146
1,345
25
2,045
968
255,475
140,409
-
140,409
18,286
158,695

24