NEW EARTH THEATRE LIMITED REPORT AND FINANCIAL STATEMENTS 31st March 2024 COMPA1 REGIStRATION NUIABER: 3045132 CHAIJry REGISTRATION NUIABER 1047991 Frank S Laehman 31 Fairview Way Edgware Middlesex HA8 8JE
NEW EARTH THEATRE LIMrfED Legal and Administratlve Infomiatlon 31st March 2024 Company Reglstered Number 3045132 Registered Charity Number 1047991 Registered Office 38 Mayton Street London N7 6QR Directors and Trustees Wai Mun Yoon {Chatr) Maninder Gill RiGhard Shannc Kithmini Wimaasekera Katte Elston Kai£huan Chao Nithdas G8crye MarchaTKI J8ffrey Feng Grace Oon H1 Ng Leo Marcus Wan Resigned 26th June 2024 Appointed 29th September 2023. Resigned 19th September 2024 Appointed 4th September 2023 Appointed 4th September 2023 Examiner Frank S Lachman Chartered Accountant 31 FaiNi8w Way Edgware Middlesex FIA8 8JE Page 1
NEW EARTH THEATRE LIMITED DIRECTORS. AND TRUSTEES. REPORT The trustees. are also directors for the Purposes of ts Companies AGt. have pleasure in presenting ttir report and the financial statements of th8 charity for the year endirKJ 31st Marth 2024. DIRECTORS. RESPONSIBILMES Company Law which is also applt(able io (tharitable cx)mpanies in EtMJland and Wales requires the directors. who are also trustees of the company. to prepare financial statements for each financial year which givg a true and fair view of the state of affaifs of the (>)mpany and of the results of the cCnpanY for that peticd. In praparing thoso fingnctal stgtemank. tha diro(aorpthst8eg 8r8 r8quirad to: select suitable accounts'ro Fdici8s and apply them consist. observe the methods and principles in the Chanties SORP make judgements and estimates that are reasonable and PTudent state whether applicab18 UK accounbng standards have been f(Alowed, subject to any material departures disclosed arml explained in the financial statements; prepare tho financial statements on tha going (t)n(m basis unless il is in8ppropYiate to presume that Ihe company will continue in business. The direGtorsltrustees are responsible for keeping prop8r a)untIng records whith disdose with reasonable accuracy at any tim8 the financial position of the r))mpany and to enable them to ensure that the financial slatements comply with the Companies Act 2(K)6. They are also responsiblé for safeguarding the assets of the company and hence for ta'n9 reasonable steps for the prevention and detection of fraud and other irregularities. PRINCIPAL ACTivrfY AND CHARABLE OBJECTIVE The principal activty of the company continues to be the prOtiOn, improvement arKI advancement of education and the encouragement of the appreciation of the arts in all their aspects but primarily throu9h the dramatic arts. ORGANISATION AND cONSrUT10N The company was intrpOrated on 11th April 1995 and is govem&l by its MemoraThdum and Artides of Association. Company Registartion number 3045132. The cMpanY adopted a new Memorandum and Arhdes on 1st Febnjary 2019. The company is limited by guarantee and has no share capital. The guarantees of individual members are Ilmited to £1. The company is a registered charity, number 1047991. The director5 of the LX)mpary form its Committee of Management artd Q)verning Bcmty and are empowered to act as necessary in order for the company to fuffil its objectives. Directors may bg aFf)ointed by the members of the company or fellow dIr8CtS at any time. Registered Office: 38 Mayion St( London N7 6QR. On the 5th June 2020 the company changed its name to Earth Theatre Limited PUBLIC BENEFIT The Trustees confirm that in compaing Ihis report they have had due regard to the guidan on public benefit issued by the Charity Commission in compli8nc* Imth the duty set out in section 4 of the Charities Act 2006. Page 2
NEW EARTH THEATRE LIMITED DIRECTORS. AND TRUSTEES. REPORT (conllnued) REVIEW OF DEVELOPMENTS, ACTivrriES AND ACHIEVEMENTS New Earth Theatre is the leading British East and Southeast Asian (BESEA) touring theatre company in the UIQ Our mission is to combat inequalty and racism bringing nuanced BESEA representatK)n to scale. In 2023124, the company: REACHED 31,688 AUDIENCE MEMBERS 3384 people attended WORTH by Joanne Lau. our new touring c&-production vrith Storyhouse that visited Arcola Theatre (LDndon) and Storyhouse (Chester). Originally developed as part of our Professional Wtttet5 Programme. the show ran for 31 productions Apr&tsy 2023. We grew opptUnitieS for our New Earth Academy alumni to develop their theatremaklng skllls by presenling scratch nights in Manchoster. Birmingham. and London in Spring 2024. We worked with writer Rogelio Braga and prOdUr Harris Albar to present a stsged reading of Bordedands at the Royal Court to a sold out audience. 3954 visitors engaged with our James Robson tharacter enix)unter acn)ss 180+ perfonnances at the CLrtty Sark and National Marilime Museum. We ran 23 sch(K)Is and festivals wotkshop sessions in storyteuing. ribbon dance and Mandarin thiough drama. Our Tsunagulconnect exhib1n travelled across the UK and was seen by over 22,1JXI people. induding in the Orkney Islands and at the Barbican Centre, London. Over 1000 lÉsteners tuned in online to our pcKlcasts and digital media contwrt, including the audio dining experiance, Sonic Phu. ENGAGED WITH 725 COMMUNITY MEMBERS 622 young people attended one of our ESEA storytetling sd)ools rkshOps. We held 4 listening s8ssions with BESEA communilies in London. Manchester. York. and Bimiingham, consulting with 50 Academy alurnni, audiences and community members. 12 Filipino Nurses attended our project-speafic Vrkshop in connection wth Border12nds at the Royal Court Theatre. 41 volunteers participated as arctvists and interviewees on the Tsunagu I Connect exhibition. DEVELOPED OVER 500 ARTISTS 80 early-career BESEA artists participated in one of our 7 week-long New Earth Academy programmes in 5 regions across England (Bimiingham, Leeds. London. Manthester. Stok&On-Trent). providing 240+ hours of free training. Our scratch nights provided 62 eaty-career artists in London. Manchester, and Birmingham the chance to try out their own play ideas. 29 BESEA graduates were seen by a panel of industry professionals for the Creative Constellations bursary, and 1 received £1.000 and a wraparound package of induslry-specffie support. Our bi-weekly mailout of curated opportunities is sent to over 300 earty- to mid-creer BESEA artists. We provided 20+ addilional artists mentoring. marketing support. fundraising advice. and other fomis of 1-1 support from our stsff team throughout the year. EMPLOYED 52 ARTISTS 30 freelance arttsts were employed through our professtonal tring productK)ns. R&Ds and museum performances. 16 fre81ance BESEA artists were emplosed in delivering our academies and schools workshops. 6 global majority creats.ves Vre ernploJEd as part-tsme or full-time rnern of staff (4.2 FTES). DIRECTORsrrRUSTEE3 The dlrectorsltrustees set out below have held office during the whde year of this report unless olhemise stated: Wai Mun Yoon (Chair) Maninder Gill Richard Shannon Kithmini Wimaksekera NhOlaS George fvlarchand Katie Elston Grac£ Oon Hooi Ng Leo Marcus Wan Appointed 4th Saptamber 2023 Appointed 41h September 2023 Appointed 29th Septembar 2023. Resigned 19th Saptembar 2024 KaFChuan Chao Jeffray Feng Pag8 3
NEW EARTH THEATRE UMrrED DIRECTORS. AND TRUSTEES. REPORT {continuod) RESERVES POLICY The company endeavours to maintain a level of reserves that will enable rf the sthatton arises thal fur¥Jing is curtailed, to cary on aclivlties whilst aliemalive S(rCeS of funding are obtained. The unrestrithd reseNes as at 315t Marth 2024 were £179.330 (2023 £197,705) The movement in reseNes 15 shown in tK)te 8 to the accounts. ACCOUNTANTS A resolullon proposlng the re-appointment of Frank S Lachman as IrKlepeThJant Exaffllner will be submitted at the Annual General Meeting. INVESTMENTS The charlty has no Inveslmerts. RELATED PARTIES The charity has relationships wilh other Charit[ C a project-by-proiect basts. GOING CONCERN The dlrectors confirm that: A going concem basis is 8ppropriate for these accounts. The company has SLfficient reserves to continue at least 12 Mth$ after date of signing these accounts. RISK MANAGEMENT The company undertakes periodic reviews for dlfferent areas of risk induding insurance wver.l*alth and safety policies in the Workpla and whilst performing. working WTlh youro children.financial affairs: peOnnel praCtiS. ICT technology. This report has been prepared in accordance with wovisions in lon 419(2) of the Companies Act 20 applicable to companles subject to the 3mall companies regime. This reFM)rt was approved by the board on 18th December 2024 and signed on its beha by Wai Mun Yoon Wa un Yoon DIor Ngw Earth Thgatrg Llmltgd PwJe 4
NEW EARTH THEATRE LIMrrED ACCOUNTANTS REPORT Independent Exami5 Report on the Accounts I report to the Charity trustees on my examinalion of Ihe accounts of the company for the year ended 31 st March 2024 vkntch are set out on pages 6 to 11 . Responsibilities and basis of report As the charitys trustees of the company (and aso its directors for the purposes of company law) )U are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 21)06 ('th8 2006 Act,). Having satisfied myBelf that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for ind8pendent examination, I report in respect of my examination of your charitys accounts as Garried oui under section 145 of the Charities Act 2011 (the .2011 Act.). In Garying out my examinatton I have followed the DirecLions grven by the Chality Commi&8ion urmler section 145(5)(b) of the 2011 Act. Independent examinerfs report Since the Gompanls gross income exceeded £250.000 your examiner must be a member of a bLxJy listed in section 145 of the 2011 ACL I confirm that l am qua1ffj to undertake the examination because l am a member of the Institute of Chartered Accountants in England & Wales, which is one of the listed tKKlies. I have completed my examination. I confirm that no fftatters have come to my attenlion in connedion with the examination givin9 me cause to believe= (l ) accounting records were not k8Pt in r8SP8Ct of the company as required by section 386 of Ihe 2006 Act: or (2) the accounts do not accord wbth those accounting records. or (3) the accounts do not ¢ompty vrith the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a Xrue and fail view which is not a matter InSIdered as part of an independent examination" or {4) the accounts have not been prepared in 2ccordance with the methods principles of the Statement of Recommended practice for accounting and reporting by charities applicable to chartiies preparing their accounts in acwrdance with the Financial Reporb"ng Standard applicable in Ihe UK armj Republic of Ireland (FRS 102). I have no concems and have come across no other matter5 in connection with the examination to thIch attention should be drawn in this r8POrt in order to enable a protw underslanding of the accounts to be reached. Frank S Lachman FCA Member Institute of Chartered Accountants in England and Wales Chartered Accountant Independent Examiner 31 Fairview Way Edgware Middlesex HA8 8JE Dat8J: 18th DrnLr 2024 Page 5
NEW EARTH THEATRE LIMITED Statement of Flnanclal Actlvttles For the Year Ended 31st March 2024 Unrestrictsd Restrfcted Fund5 Funds Total UnrestriGted Restrlcted Funds Funds Funds 2024 Total Funds 2023 Notes Income Legacies and don8tions 178220 178,220 178.220 178,220 Investment income 302 302 Charitable activities 74.303 124.819 199.122 84.513 23.900 108.413 Total income 254.863 124,819 379,682 263.035 23,900 286,935 Expenditure Charitsblo Actlvlty Costs 273238 49.453 322.691 394,934 27.065 421,999 Total expenditure 273.238 49.453 322,691 394,934 27,065 421,999 Surplus for the year (18.375) 75,366 56.991 (131,899) 13,165) (135,064) Funds brought forward 197.705 14.923 212.628 329.604 18.088 347.692 Funds carried forward 179.330 90,289 269.619 197.705 14.923 212,628 The statement of Financial Activitles reflects the results of conlinuing actNthes for the year. There were no recognised gains or losses other than the net outgomg resour for the Par. The nel outgoing resources for the year have been calculated on the historical cJ)sl basis. The notes on pages 8 to 11 fomi part of these accounts. Page 6
NEW EARTH THEATRE LIMITED Balanco Sheet at 31st March 2024 Notes 2024 2023 Current assets Debtors Cash at bank and in hand 45.943 167.985 271.141 Total current assets 272.047 213.928 Creditors falling due within one year 2.428 1.300 Net current ats 269.619 212.628 Not assets 269,619 212,628 The Funds of the Charity Restrictad Funds 14.923 Unrestrfcted Funds 179.330 197.705 Total Charfty Funds 269.619 212,628 a) For the year ended 31 March 2(r24 thè u)mpany vras entitled to exemption under secllon 477(2) of the Companies AGt 21JO6. (b) No members have requlred the company to obtaln an audit of its accA)unts for the year in queSn in accordance wlth secuon 476 of Cornpanles Act 2006. (c) The directors 8cknovAedg8 trbeir responsilAity for i. ensuring the company keeps accountlng reccvth whith comply ryth section 386: and ii. preparing accounts which give a true and fair view of the state of affairs of Ihe company as at the end of the financial year and of its profrt and loss for the financial year in ac(xJrdance with the section 393, and whiGh olhefwlse compty with Ihe requirements of Ihe Companies Act relating io accounts, so far as applicable to the company. {d) The accounts have been prepar1 in accordance with the sal pn)visions in Part 15 of the Companies Act 2006 applicable to companies subjeci to the small companies regime. and constitLrte the annual aco)unts required by the Companies ACA 2(J)6 and are for circulation to members of the . company Approved by the directors on 18th Dacember 2024 . and stgned on hdf Wai Mun Yoc aimuny Dimtor The notès on pag8s 8 to 11 form part of thase accounls. Page 7
NEW EARTH THEATRE UMITED Notes lo th• Financial Statements For the Year Ended 31st March 2024 1 Accounting Polices (a) The financial statements have been wepared in accordance wiEh Accounting and Reporting by Charities: ststemenl of Recommended Practice applicable to chanties preparing their accounts in accordance 1th the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2022)- (Charities SORP {FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. New Earth Theatre Limited rneets the definition of a public benefft entrty under FRS 102. Assets and liabilities are initially recognise(l at hbstorical cost or transaction value unless otherwise stated in the relevant aOUnting wlicy note(s). {b) Income Income is recognised when the charity has entitlemenl lo the funds. any perfomiance conditions attached to the iterns of income have been met, it is probable that the incom& V11 bo roceiv9d and the amount can be measured rdiably. Income from grants. vthether capital or revenue grants, is recognised en the charity has entitlement to the funds, any perfonnance conditions attached to the grants has been met. it is Ptobable that the income 11 be [1Ved and the arnount can be measured reliably and Is nol deferred. (c) Expendlture All expendiiure is accounted for on an accruals basis. Eynditur8 is recognised onc8 therg is alggal or constructive obligation to make a payment to a third paty. It is probable that settlernent wtll be required and the amount of the obligation can be measured reliably. Costs are allocated to a Lztegory either because suth (J)sts are directty inwrred in rdation to suth £xtegory. or because they are support $ts In respecl of whlch an apportionmenl has been made betsveen the categories. Support costs consist of infrastructure costs for salaries. premises. office administration. Such costs are apportioned on a reasonable and consistent basis to the various categories wlih a view to detemining. as accurately as possible, the total resources expended for each category. The basis of appo"Onrnen1 used is erther a function of staff time applied to a gÈven actwity, or an estimate of the propOr)n of c£*ts aswaated the $8me. or a MbinatiOn of both. Direct and Support costs are separately shown by natural dasstficatK)n in Note 5 to these accounts for each category of cost. (d) Taxation The company as a Tegistered charity ( number 11)47991) is exempt from taxation on K)St investment income insofar as it is applie(J for chantable purposes. The company is also exempt from taxats'on on caprtal gains. (e) Debtors Trade and other debtors are recognised at the settlement amount due after any trade dtscount offered. Ppayrnents are valuèd at the amount prepaid net of any trade discounts due. (fj Creditors and provisi(x Creditors and provisions are recognised where the chaiity has a pr&sent obligation resulting from a past event that wll probably result in the transfer of funds to a third paty and the amount due to settle the obligation can be measured or estimated reliably. Credtlors and provisions are nomially recognised al their settlement amount after allowing for any trade discount5 due. Page 8
NEW EARTH THEATRE LIMrrED Notès to the Flnanclal Statements For the Year Ended 31st March 2024 2 Grants and donations Unrestricted Restricted Funds Funds Unrestricted Restrlcted Funds Fund5 2024 2023 Grants for General Running Costs - Arts Council England 178,220 178.220 178,220 178,220 178,220 178.220 178,220 178.220 3 Charitable activity Unrestricted Restricte(I Funds Funds Unrestricted Restricted Funds Funds 2024 2023 Project Grants and donations British Council Heritage Lottery Fund Paul Hamlyn Foundation Esmee Fairbaim Robert H N Ho Foundation Donations Covid SSP Grant Theatre Tax Relief 5,000 5.000 7.790 7.790 73.666 30,000 16.153 73,666 30,000 16.153 2.342 16.110 16.110 2,199 2,342 2,199 43.836 43,836 15.624 15,624 46,178 124.819 170,997 17.823 23.900 41,723 TiGket sales, fees, commissions,
productions 28.125 74,303 28,125 199.122 66,690 84,513 66,690 23,900 108,413 124.819 4 Charltable activity G¢)sts Charitable Support Charitable Activity Costs Acllvlty Costs Costs Governance Costs Total 2024 Charltable AGtivty Costs Production costs Marketing 18.276 86.252 20.297 104.528 20297 Support costs Fees and vrages Accountancy Admin. post and telephone costs Insurance Website and IT Subscriptions Travel and Subsistence Rent. utllities and storage 31,042 147.242 178.284 1,430 1,256 1.542 4,730 1,279 4,184 5.161 1.430 1.136 1,542 4.730 1,279 4.169 5.161 120 15 Total 2024 18.017 49.453 253.791 1.430 322,691 Page 9
NEW EARTH THEATRE UMrrED Notes to the Financlal Statements For the Year Ended 31st March 2024 Charitsble Charitablo Support Activity Activity Costs Costs Costs Unrestrlcted Restrlcted Unrestrlcted Govemance Total 2023 Charhable Actlvlty Costs Production costs Marketing 27,065 192,090 26,696 219,155 26,696 Support costs F8es and wages Accountancy Admin. post and telephon8 costs Insurance 162,850 162,850 1.300 679 1.258 5,179 1,474 2.356 1,052 1.300 679 1.258 5.179 1.474 2.356 1,052 Website and IT Subscriptions Travel and Subsistence Rent, utilities and storage Total 2023 11,998 27,065 381,636 1,300 421,999 5 Employees 2024 2023 Salaries Social Security costs Pension 163.538 10.637 4,109 178,284 150.219 8.821 3.810 162,850 Avorage number of employees No employee was paid at a Tate of more Ihan £60,000 a year. In 2023 none. 6 Debtors 2024 2023 Accrued income Other debtors 44.555 1,388 906 7 Creditors due within one year 2024 2023 Accruals 2,428 2,428 1,300 1,300 Page10
NEW EARTH THEATRE LIMITED Notes to the Financial Statements For the Year Ended 31st March 2024 8 Reconciliation of movement of funds Funds at 1st Aprll 2023 Funds at 31st Income Expenses Transfers March 2024 Restricted Fund3 14,923 124,819 (49,453) 90,269 Unrestricted Funds General 72,705 254.863 {273.238) (25,000) 29,330 Designated 125,000 25.000 150.000 212,628 379.882 (322.691 269,619 The above funds comprfse: General Fund: ar8 moneys whh can be used by tha Trustees at their discretion for any purpose and which have been designated by them previousty Designated Fund: are monies sel aside for planned future ptodudions and emergency reseThw. 9 Analysis of assets over funds Net Current Total 2024 Totsl 2023 Restricted Funds 90.28g go,289 14.923 Unrestricted Funds.. General 54.330 54.330 72.705 Designat& 125.000 125.000 125.000 269,619 269.619 212,628 10 Trusteos During the year. none of the trustees received any remUneraln from ihe charity armd no eXnseS were reimbursed to any of them. Page 11