- NEW EARTH THEATRE LIMITED REPORT AND FINANCIAL STATEMENTS 31st March 2025 COMPANY REGISTRATION NUMBER: 3045132 CHARITY REGISTRATION NUMBER 1047991 Frank S Lachman 31 Fairview Way Edgware Middlesex HA8 BJE A14 13/12/2025 COMPANIES HOUSE
34
NEW EARTH THEATRE LIMITED Legal and Administrative Information 31st March 2025 Company Registered Number Registered Charity Number Registered Office Directors and Trustees Examiner 3045132 1047991 38 Mayton Street London N7 6QR Hongwei Bao Kai-Chuan Chao Katie Elston Jeffrey Feng Maninder Gill Nick Marchand Grace Ng Richard Shannon Yuko Thomas Leo Wan Kithmini Wimalasekera Wai Mun Yoon (Chair) Frank S Lachman Chartered Accountant 31 Fairview Way Edgware Middlesex HA8 8JE Appointed 30 October 2025 Resigned on 31 December 2024 Resigned 19 September 2024 Resigned on 24 September 2025 Resigned on 31 December 2024 Appointed 30 October 2025 Resigned 26 June 2024 Page 1
NEW EARTH THEATRE LIMITED DIRECTORS' AND TRUSTEES' REPORT The trustees, who are also directors for the purposes of the Companies Act, have pleasure in presenting their report and the financial statements of the charity for the year ending 31st March 2025. DIRECTORS' RESPONSIBILITIES Company Law which is also applicable to charitable companies in England and Wales requires the directors, who are also trustees of the company, to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and of the results of the company for that period. In preparing those financial statements, the directors/trustees are required to: select suitable accounting policies and then 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 financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors/trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. PRINCIPAL ACTIVITY AND CHARITABLE OBJECTIVE The principal activity of the company continues to be the promotion, improvement and advancement of education and the encouragement of the appreciation of the arts in all their aspects but primarily through the dramatic arts. ORGANISATION AND CONSTITUTION The company was incorporated on 11th April 1995 and is governed by its Memorandum and Articles of Association. Company Registartion number 3045132. The company adopted a new Memorandum and Articles on 1st February 2019. The company is limited by guarantee and has no share capital. The guarantees of individual members are limited to £1. The company is a registered charity, number 1047991. The directors of the company form its Committee of Management and Governing Body and are empowered to act as necessary in order for the company to fulfil its objectives. Directors may be appointed by the members of the company or fellow directors at any time. Registered Office: 38 Mayton Street, London N7 6QR. On the 5th June 2020 the company changed its name to New Earth Theatre Limited PUBLIC BENEFIT The Trustees confirm that in compiling this report they have had due regard to the guidance on public benefit issued by the Charity Commission in compliance with the duty set out in section 4 of the Charities Act 2006. Page 2
NEW EARTH THEATRE LIMITED DIRECTORS' AND TRUSTEES REPORT (continued) REVIEW OF DEVELOPMENTS, ACTIVITIES AND ACHIEVEMENTS New Earth Theatre is the leading British East and Southeast Asian (BESEA) touring theatre company in the UK. Our mission is to combat inequality and racism bringing nuanced BESEA representation to scale. DIRECTORS/TRUSTEES Hongwei Bao Kai-Chuan Chao Katie Elston Jeffrey Feng Maninder Gill Nick Marchand Grace Ng Richard Shannon Yuko Thomas Leo Wan Kithmini Wimalasekera Wai Mun Yoon (Chair) Appointed 30 October 2025 Resigned on 31 December 2024 Resigned 19 September 2024 Resigned on 24 September 2025 Resigned on 31 December 2024 Appointed 30 October 2025 Resigned 26 June 2024 With our 30th anniversary approaching in 2025, we welcomed new Artistic Director Ailin Conant. She took over from founder member Kumiko Mendl, who stepped down on 31st March 2024, and joined Executive Director Lian Wilkinson as Co-CEO. The company focused on organisational development and laying the groundwork for an ambitious 2025-26 and beyond, whilst continuing to deliver an impactful programme for this financial year. In 2024/25, the company: REACHED 31,647 AUDIENCE MEMBERS 5456 visitors engaged with our James Robson character encounter across 216 performances at the Cutty Sark and National Maritime Museum. Our Tsunagu/Connect exhibition was seen by 26099 people at the London Coliseum and Hoxton Hall. We partnered with Kali Theatre and Tara Theatre to present Seedlings: A Climate Justice Festival. • Sonic Phở continues to be offered online with the Museum of the Home and as a live event. ENGAGED WITH 1470 COMMUNITY MEMBERS 1092 young people and families attended an ESEA workshop. We ran 32 schools and festivals workshop sessions in storytelling, shadow puppetry and Mandarin through Drama. We held safe space sessions to support our communities as a response to harmful narratives in the media and élsewhere, including in the wake of anti-immigration protests. We delivered targeted audience development initiatives attracting 39 BESEAs in Liverpool and Newcastle, including listening sessions and theatre visits. 285 participants joined us at panel discussions and presentations; including an Embassy Retrospective at the Royal Central School of Speech and Drama. DEVELOPED OVER 500 ARTISTS • . 67 early-career BESEA artists participated in one of our 7 week-long New Earth Academy programmes in 5 regions across England (Birmingham, Leeds, London, Manchester, Stoke-On-Trent), providing 240+ hours of free training. 44 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 industry-specific support. Our bi-weekly mailout of curated opportunities is sent to over 350+ early- to mid-career BESEA artists. We provided 35+ additional artists mentoring, marketing support, fundraising advice, and other forms of 1-1 support from our staff team throughout the year. EMPLOYED 49 ARTISTS 42 freelance artists were employed through commissions, performances, academies and schools workshops.. 7 BESEA creatives were employed as part-time or full-time members of staff (4.5 FTEs). Page 3
NEW EARTH THEATRE LIMITED DIRECTORS' AND TRUSTEES' REPORT (continued) RESERVES POLICY The company endeavours to maintain a levei of reserves that will enable it, if the situation arises that funding is curtailed, to carry on its activities whilst alternative sources of funding are obtained The unrestricted reserves as at 31st March 2025 were £275,815( 2024 £179, 330) The movement in reserves is shown in note 8 to the accounts. ACCOUNTANTS A resolution proposing the re-appointment of Frank S Lachman as Independant Examiner will be submitted at the Annual General Meeting. INVESTMENTS The charity has no investments. RELATED PARTIES The charity has relationships with other charities on a project-by-project basis. GOING CONCERN The directors confirm that: A góing concern basis is appropriate for these accounts. The company has sufficient reserves to continue for at least 12 months after the date of signing these accounts RISK MANAGEMENT "The company undertakes periodic reviews for different areas of risk including insurance cover, health and safety policies in the workplace and whilst performing, working with young children, financial affairs; personnel practices; ICT technology. This report has been prepared in accordance with the provisions in Section 419(2) of the Companies Act 2006 applicable to companies subject to the small companies regime. This report was approved by the board on 11 Der 2025 and signed on its behalf by Wai Mun Yoon Wai Mun Yoon Director New Earth Theatre Limited Page 4
NEW EARTH THEATRE LIMITED ACCOUNTANTS REPORT Independent Examiner's Report on the Accounts I report to the charity trustees on my examination. of the accounts of the company for the year ended 31st March 2025 which are set out on pages 6 to 11 . Responsibilities and basis of report As the charity's trustees of the 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 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 2011 (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 report Since the company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because 1 am a member of the Institute of Chartered Accountants in England & Wales, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: (1) accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or (2) the accounts do not accord with those accounting records; or (3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair' view which is not a matter considered as part of an independent examination; or (4) the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 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. Frank S Lachman FCA Member Institute of Chartered Accountants in England and Wales Chartered Accountant Independent Examiner 31 Fairview Way Edgware Dated: 11 Dee 2025 Middlesex HA8 8JE Page 5
NEW EARTH THEATRE LIMITED Statement of Financial Activities For the Year Ended 31st March 2025 Notes 2 3 Unrestricted Restricted Funds Funds Total Funds 2025 Income Legacies and donations Investment income Chantable activities Total income. Expenditure Charitable Activity Costs Total expenditure Surplus for the year Funds brought forward Funds carried forward 178,220 4,701 40,269 223,190 - - 31,515 31,515 178,220 4,701 71,784 254,705. Unrestricted Restricted Funds Funds Total Funds 2024 178,220 2,340 74,303 254,863 - - 178,220 2,340 124,819 199,122 124,819 379,682 4 126,705 126,705 121,804 121,804 248,509 248,509 273,238 273.238 96,485 179,330 (90,289) 90,289 6,196 269,619 (18,375) 197,705 8 275,815 275,815 179,330 The statement of Financial Activities reflects the results of continuing activities for the year. There were no recognised gains or losses other than the net outgoing resources for the year. The net outgoing resources for the year have been calculated on the historical cost basis. The notes on pages 8 to 11 form part of these accounts. 49,453 49.453 75,366 14,923 90,289 322,691 322,691 56,991 212,628 269,619 Page 6
NEW EARTH THEATRE LIMITED Balance Sheet at 31st March 2025 Notes 2025 2024 Current assets Debtors Cash at bank and in hand Total current assets 6 1,048 454,917 455,965 906 271,141 272,047 Creditors falling due within one year Net current assets 7_180,150 2,428 Net assets 275,815 275,815 269,619 269.619 The Funds of the Charity Restricted Funds Unrestricted Funds 8 Total Charity Funds 275,815 275,815 90,289 179,330 269,619 a) For the year ended 31 March 2025 the company was entitled to exemption under section 477(2) of the Companies Act 2006 (b) No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006. (c) The directors acknowledge their responsibility for: i. ensuring the company keeps accounting records which comply with section 386; and ii. preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the section 393, ano which otherwise comply with the requirements of the Companies Act relating to accounts, so far as applicable to the company. (d) The accounts have been prepared in accordance with the special provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime, and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the. company Approved by the directors on |/ VeL 202 , and signed on their behalf by Wai Mun Yoon Director :. The notes on pages 8 to 11 form part of these accounts. Page 7
NEW EARTH THEATRE LIMITED Notes to the Financial Statements For the Year Ended 31st March 2025 1 Accounting Polices (a) The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (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 meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). (b) income Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the items of income have been met, it is probable that the income will be received and the amount can be measured reliably. Income from grants, whether capital or revenue grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants has been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. (c) Expenditure All expenditure is accounted for on an accruals basis. Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party. It is probable that settlement will be required and the amount of the obligation can be measured reliably. Costs are allocated to a category either because such costs are directly incurred in relation to such category, o because they are support costs in respect of which an apportionment has been made between 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 with a view to determining, as accurately as possible, the total resources expended för each category. The basis of apportionment used is either a function of staff time applied to a given activity, or an estimate of the proportion of costs associated with the same, or a combination of both. Direct and Support costs are separately shown by natural classification in Note 5 to these accounts for each category of cost. (d) Taxation The company as a registered charity (number 1047991) is exempt from taxation on most investment income insofar as it is applied for charitable purposes. The company is also exempt from taxation on capital gains. (e) Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered Prepayments are valued at the amount prepaid net of any trade discounts due. (f) Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Page 8
NEW EARTH THEATRE LIMITED Notes to the Financial Statements For the Year Ended 31st March 2025 2 Grants and donations Unrestricted Funds Grants for General Running Costs - Arts Council England 3 Charitable activity Project Grants and donations British Council Paul Hamlyn Foundation Esmee Fairbairn Robert H N Ho Foundation Donations 'National Lottery Heritage Fund Create Equity Garfield Weston Foundation Idlewild Trust Backstage Trust Foundation Theatre Tax Relief Deferred Grants Carried Forward Ticket sales, fees, commissions, co-productions 4 Charitable activity costs Charitable Activity Costs Production costs Marketing Support costs Fees and wages Accountancy Consultancy Admin, post and telephone costs Insurance Website and IT "Subscriptions Travel and Subsistence Rent, utilities and storage Total 2025 178,220 178,220 Unrestricted Funds : 3,440 3,440 36,829 40,269 Support Costs Unrestricted : 350 1,889 1,542 6,446 600 76 5,990 16,893 Restricted Funds - Restricted Funds 73,667 38,400 47,028 2,000 15,000 7,000 13,500 (165,080) 31,515 31,515 Charitable Activity Costs Restricted 13,589 2,080 86,711 8,300 3,068 1,125 6,556 121,804 Page 9 2025 178,220 178,220 2025 - 73,667 38,400 3,440 47,028 2,000 15,000 7,000 13,500 (165,080) 34,955 36,829 71,784 Charitable Activity Costs Unrestricted 30,234 5,173 72,905 - - : 108,312 Unrestricted Funds 178,220 178,220 Unrestricted Funds : : 2,342 43,836 46,178 28,125 74,303 Governance Costs : 1,500 - : 1,500 Restricted Funds : Restricted Funds 5,000 73,666 30,000 16,153 - 124,819 124,819 Total 2025 43,823 7,253 159,616 1,500 8,650 4,957 1,542 6,821 600 1,201 12,546 248,509 2024 178,220 178,220 2024 5,000 73,666 30,000 16,153 2,342 : 43,836 170,997 28,125 199,122
NEW EARTH THEATRE LIMITED Notes to the Financial Statements For the Year Ended 31st March 2025 Support. Costs Unrestricted Charitable Activit Restricted Charitable Activity Costs Production costs Marketing Support costs Fees and wages Accountancy Admin, post and telephone costs Insurance Website and IT Subscriptions Travel and Subsistence Rent, utilities and storage Total 2024 : 18,276 : 1,136 1,542 4,730 1,279 4,169 5,161 18.017 31;042 120 : : 49,453 5 Employees 2025 Salaries Social Security costs Pension 150,882 5,058 3,675 159,615 Average number of employees 6 No employee was paid at a rate of more than £60,000 a year. In 2024 none. 6 Debtors Other debtors 2025 1,048 1,048 7 Creditors due within one year Deferred grants Deferred income Other taxes Creditors Accruals 2025 165,080 6,440 591 5,811 2,228 180,150 Page10 Charitable Activity Costs Unrestricted 86,252 20,297 147,242 : 253,791 2024 163,538 10,637 4,109 178,284 6 2024 906 906 2024 2,428 2,428 Governance Costs : 1,430 . 1,430 Total 2024 104,528 20,297 178,284 1,430 1,256 1,542 4,730 1,279 4,184 5,161 322,691
NEW EARTH THEATRE LIMITED Notes to the Financial Statements For the Year Ended 31st March 2025 8 Reconciliation of movement of funds Funds at 1st April 2024 Restricted Funds 90,289 Unrestricted Funds General 54,330 Designated 125,000 269,619 - - Income Expenses Transfers 31,515 (121,804) - 223,190 - 254,705 (126,705) - (248,509) (125,000) 125,000 Furids at 31st March 2025. - 25,815 250,000 275,815 The above funds comprise: General Fund: are moneys which can be used by the Trustees at their discretion for any purpose and which have not been designated by them previously Designated Fund: are monies set aside for planned future productions and emergency reserves. Analysis of assets over funds Restricted Funds Unrestricted Funds: General Designated Net Current Assets - 25,815 250,000 275,815 Total 2025 Total 2024 - 90,289 25,815 250,000 275,815 54,330 125,000 269.619 10 Trustees During the year, none of the trustees received any remuneration from the charity and no expenses were reimbursed to any of them. Page 11