Digitally Signed Document Document ID: 1F8169D0E30A69 Document Details GOLIVETP-Charities report - 31.08.24 **Filename:** FULL.PDF ~~= UlUlt~—~~ **Client of:** Roy Pinnock & Co ~~== +~~ Signature Details **Name:** Charles Prideaux ~~<_<~~ **Email:** charles.prideaux@aol.co.uk ~~<_<~~ **Date & Time:** 29/05/2025 16:19:59 PM (BST) ~~<_<~~ **IP Address:** 188.217.54.5 ~~<_<~~ Go Live Theatre Projects Ltd agrees and approves **Signing Statement:** the contents of this document. ~~ee~~ ## Digital Certificate The approved PDF file has been digitally certified.Please check the Digital Certificate information in your PDF viewer to verify the Digital Certificate authenticity and the PDF has not been tampered with. **On behalf of:** Roy Pinnock & Co ~~<_<~~ **PDF digital certificate:** IRIS Software Group Limited ~~<_<~~ **Digital certificate issued by:** GlobalSign ~~=~~ Please keep a copy of this document for your records. **REGISTERED COMPANY NUMBER: 03162429 (England and Wales) REGISTERED CHARITY NUMBER: 1053434** ## **Report of the Trustees and** ## **Financial Statements** **for the Year Ended 31 August 2024** ## **for** **Go Live Theatre Projects Ltd** Roy Pinnock & Co LLP Statutory Auditors Wren House 68 London Road St Albans Hertfordshire AL1 1NG **Go Live Theatre Projects Ltd** ## **Contents of the Financial Statements for the Year Ended 31 August 2024** ||**Page**| |---|---| |**Reference and Administrative Details**|1| |**Chairman's Report**|2| |**Report of the Trustees**|3 to 7| |**Report of the Independent Auditors**|8 to 11| |**Statement of Financial Activities**|12| |**Balance Sheet**|13| |**Cash Flow Statement**|14| |**Notes to the Cash Flow Statement**|15| |**Notes to the Financial Statements**|16 to 34| |**Detailed Statement of Financial Activities**|35 to 37| **Go Live Theatre Projects Ltd** **Reference and Administrative Details for the Year Ended 31 August 2024** |**TRUSTEES**|J Burke Actor/director| |---|---| ||R J Davis Solicitor And Councillor (resigned 30.6.24)| ||Ms D Dixon Drama Student (appointed 26.10.23)| ||A J Herman Commercial Director| ||Ms Y L Jarvis Teacher (appointed 26.10.23)| ||A L Kenwright Theatre Producer| ||Ms P C Lloyd Theatre Director (resigned 30.6.24)| ||Ms E M Myers Youth Worker (appointed 26.10.23)| ||C Prideaux Investment Banker| ||C A Siegel Investment Banker| ||Ms A J Sullivan International Environment, Social And Go| ||T M C Tabor Senior Real Estate Executive| ||Ms J Tuffee Head Of A School Foundation (appointed| ||26.10.23)| ||R Williams OBE Playwright| |**COMPANY SECRETARY**|Ms S McIntosh| |**REGISTERED OFFICE**|Fivefields| ||8-10 Grosvenor Gardens| ||London| ||SW1W 0DH| |**REGISTERED COMPANY**|03162429 (England and Wales)| |**NUMBER**|| |**REGISTERED CHARITY**|1053434| |**NUMBER**|| |**AUDITORS**|Roy Pinnock & Co LLP| ||Statutory Auditors| ||Wren House| ||68 London Road| ||St Albans| ||Hertfordshire| ||AL1 1NG| |**BANKERS**|Royal Bank of Scotland PLC, 49 Charing| ||Cross, London SW1A 2DX| Page 1 **Go Live Theatre Projects Ltd** ## **Chairman's Report for the Year Ended 31 August 2024** I'm pleased to present the annual report for Go Live, which was my first full year as Chair. During the period we continued with our core education mission of delivering the joy of live theatre to as many disadvantaged young adults and children as possible through our various programmes and school partnerships. Since the charity's inception, over a quarter of a million children have experienced shows who might otherwise not have had the opportunity. For this wonderful achievement and contribution, Susan Whiddington (firstly our Director, then our CEO) since 1997 was rightly given an Olivier award. It was a fitting culmination to her career with the charity as she retired at the end of June 2024. Our president and founder, Sir Stephen Whaley-Cohen, the board and of course all the children owe her a huge debt of gratitude. Our ambition now is to build on her legacy , and we were delighted to appoint Sita McIntosh as her successor. Sita brings a wealth of experience both from her time at WhatsOnStage, serving as Chair for Kiln and Curve Theatres and working as a consultant with schools to deliver theatre experiences. Since her arrival, our branding and website has been redesigned and our marketing approach adapted for the era we're in while at the same time ensuring that the core education impact of the charity is maintained. None of the above would be possible without the tremendous support we receive from numerous Trusts and Foundations as well as individual donors . This was very visible at the successful gala held in May , which featured a glorious cabaret directed by Phyllida Lloyd and hosted by Cush Jumbo. On behalf of the board and the children, I would like to take this opportunity to thank all our supporters for their continued generosity . I would also like to express my gratitude to the theatre producers and venues that we work in partnership with to provide access to their shows. In the digital age we now live in, the charity's work to deliver the lasting inspiration and joy from live performances is more important than ever. In this way, I trust we can enrich young lives and play our part to help cement the foundations for the country's creative sector. Charles Prideaux , Chair Go Live Theatre Projects May 2025 Page 2 **Go Live Theatre Projects Ltd** ## **Report of the Trustees for the Year Ended 31 August 2024** The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2024. The trustees have adopted the provisions of 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 2019). ## **OBJECTIVES AND ACTIVITIES** ## **What is Go Live Theatre Projects?** Go Live Theatre Projects is a charity that uses the power of theatre to create inspiring experiences and unlock possibilities for young people. We believe that all children and young people should have the opportunity to experience the life-enhancing benefits of seeing and participating in theatre. Too many young people and their families experience physical, social, and financial barriers to experiencing theatre. We are here to change that. ## **Our impact:** Children, young people and their families enjoy shared, live experiences and create special memories alongside greater awareness of different opportunities, the confidence to pursue them and develop skills that prepare them for their futures. We also am to help the wider theatre industry improve its education and access provision. In this financial year we took 7,350 children and young people to the theatre. We targeted and prioritised schools with a high percentage of students eligible for Free Schools meals (FSM), or with other indicators of disadvantage such as having English as an additional language (EAL) and/or special educational needs or disabilities. For some of the productions/trips, we ran insight sessions and in- school drama workshops to further enhance their experience and understanding of the show. Our key programmes are: **Family First Nights** which make London's theatre accessible to families on low incomes. Families are referred by charities and co mmunity agencies to ensure that we are reaching the right people. **Theatre Openers** aimed at state schools from deprived areas of London with high levels of Pupil Premium Feedback surveys are collected after every project, programme and trip to measure and monitor the numbers of children and young people attending as well as to gather their thoughts and opinions of their trip and those of their teachers, parents and guardians. ## **Public benefit** The objectives and activities and achievement and performance sections of this report clearly set out the activities which the charity undertakes for the public benefit. The Trustees confirm that they have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Commission in determining the activities undertaken by the charity. Page 3 **Go Live Theatre Projects Ltd** ## **Report of the Trustees for the Year Ended 31 August 2024** ## **OBJECTIVES AND ACTIVITIES** ## **Trustees** The Trustees met four times during the financial year. Two Trustees (Robert Davis and Phyllida Lloyd) ended their tenure in June 2024. In additional the Finance subcommittee met on a regular basis with the Chief Executive and Deputy Director to review the budget, forecast and investments. ## **Staff** 2023/24 heralded a major change for Go Live Theatre Projects with the departure of Susan Whiddington in July 2024 as CEO (after 27 years with the charity) and then in August 2024, Deputy Director, Gayle Bryans after 16 years with the charity. Sita McIntosh was appointed the new CEO and started officially on 30th September 2024 and Michael Berg was appointed Development Director and commenced on 2nd September.Both Sita and Michael were able to complete a number of handover days with Susan and Gayle over the summer months. ## **Staff Training** Staff members took advantage of opportunities to participate in training, discussion groups, seminars and conferences on topics including: Autism Awareness, Deaf Awareness, Level 1 and Level 2 Safeguarding, Facilitation, Family Learning in Prisons and Mental Health First Aid ## **ACHIEVEMENT AND PERFORMANCE** ## **Fundraising** Go Live is registered with The Fundraising Regulator and is committed to follow the Code of Fundraising Practice. We use all moneys raised for the purposes stated in our charitable objects. We treat donors fairly, enable them to make informed decisions about any donation, do not take advantage of individuals in vulnerable circumstances and do not cause an unreasonable intrusion on a person's privacy. We make Gift Aid claims only on donations where all Gift Aid conditions are met. We ensure that all reporting requirements and conditions attached to donations are met in a timely fashion. Where we enter into 'commercial participator' fundraising relationships, a contract is signed between Go Live and the company, stating the terms of the relationship. There were no complaints registered regarding our fundraising. We are hugely grateful to all our funders and donors for their vital role in giving theatre experiences and new opportunities to more than 7,000 children and young people this year. Page 4 **Go Live Theatre Projects Ltd** ## **Report of the Trustees for the Year Ended 31 August 2024** ## **FINANCIAL REVIEW** ## **Financial Review** The financial position at the period end was considered satisfactory by the Trustees. During the year, Go Live Theatre Projects received income totalling £1,075,042 (2023 - £999,993). Expenditure totalled £1,098,254 (2023 - £1,001,139). The net movement in funds for the year before gains on investments was a deficit of £23,212 (2023 - a deficit of £1,146). After realised gains on investments of £10,245 (2023 - loss of £20,247), this resulted in total funds at 31 August 2024 of £455,917 (2023- £468,884). Included in total funds is an amount of £173,321 (2023 - £133,548) which is restricted. Full details of these restricted funds can be found in note 17 to the financial statements, together with an analysis of movements during the year. Unrestricted funds of the charity at 31 August 2024 totalled £282,597 (2023 - £335,336). . Funds representing the net book value of tangible fixed assets at 31 August 2024 stood at £1,170 (2023 - £11,916) and therefore free reserves amounted to £281,427 (2023 - £323,420). As such, free reserves at the year-end fell below the parameters stipulated by the Trustees in the reserves policy set out below. The Trustees are satisfied that there is no immediate concern as a result of this and their strategy for managing free reserves is detailed below. Due to the substantial increase in unrestricted funds achieved last the year, the small deficit this year, the extra staff in place to support fundraising and other income generation, the Trustees have concluded that the charity remains a going concern. ## **Investment policy** The Trustees' investment powers are governed by its constitution which permits the funds available to be invested in a wide range of securities and assets. The overall financial objective is to at least maintain the real value of the sums invested, to generate a sustainable return to support charitable activities and to reduce inflation erosion. Investments are made in line with the full policy's ethical considerations. The charity aims to produce a stable return on investments with a minimum of risk. The performance of the investments is reviewed by the Finance Committee on a regular basis. The Investment Policy is reviewed every other year by the Trustees. The Trustees have agreed to maintain in our current account the minimum amount needed to cover expenses each month and for the remainder to be invested, primarily in short-term, low-risk instruments, given the improved risk free interest rate return backdrop.. ## **Reserves policy** Go Live Theatre Projects' general reserves represent funds of the charity that are freely available, excluding designated funds and restricted funds. In order to provide a quality, effective and efficient service to its beneficiaries, the Trustees have set a reserves level that in the event of funding not being sufficient to cover expenses in the future, a smooth transition can be made to a lower level of service. The reserves target is approximately six months of budgeted operating expenses, being £569,013 (2023 - £569,013). Free reserves, excluding fixed assets, at 31 August 2024 are £285,323 (2023 - £323,420). The level of free reserves is still below the desired level of six months of budgeted operating expenses. The charity plans to address this by staging several fundraising events but more importantly plans to increase commercial activity in 2024/25 and beyond to shore up the unrestricted reserves and redress the 80/20 funding/revenue generation ratio in favour of more income generation. Plans include an affiliation with a major ticketing supplier to earn commissions on full-price and discounted tickets sold via the Go Live Theatre website as well as commercialising the data that we have with producers, venues and marketing agencies who currently utilise that data for free or at a small cost. Page 5 **Go Live Theatre Projects Ltd** ## **Report of the Trustees for the Year Ended 31 August 2024** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. Go Live Theatre Projects is a registered charity and a company limited by guarantee, registered in England and Wales, and governed by a Memorandum and Articles of Association. In the event of the company being wound up the maximum amount which each Trustee (Director) is liable to contribute is £10. ## **Governance & Management** The governance of the charitable company is the responsibility of the Trustees (also known as Directors) who are elected and co-opted under the terms of the Articles of Association. None of the Trustees has any beneficial interest in the company. The Trustees of the charitable company (the charity) are its Directors for the purpose of company law and throughout this report are collectively referred to as the Trustees. The Trustees who served during the period and on the date the report was approved are listed on page 1. ## **Recruitment, Induction & Training of Trustees** Go Live Theatre Projects selects Trustees with a range of relevant skills, knowledge, experience and backgrounds to achieve the effective oversight and support of the charity. The Charity's Nomination Committee identifies potential new Trustees, interviews candidates and makes recommendations to the Board. After interview and approval by the Nomination Committee, candidates are invited to observe a Board meeting. The Board must approve the new appointment by ordinary resolution or by a decision of the Trustees. The Chief Executive meets with new trustees to give a more in-depth understanding of the charity's activities and provides an information pack. Trustees are encouraged to see Go Live Theatre Projects "in action" by attending programmes and events and join a Board subcommittee or working group. ## **Structure & Decision-making** The charity's employees manage Go Live Theatre Projects' programming under the supervision of the Chief Executive, without the need to refer to the Board for day-to-day day decisions and operations. Decisions of greater importance and impact are referred to the Board at meetings, or in-between times to the Chair. There are four formal Board meetings each year as well as regular Finance and Governance subcommittee meetings. One Trustee is designated as the Board's Safeguarding Lead. In between board meetings, the Chief Executive and Deputy Director maintain frequent contact with Trustees. ## **Key Management Personnel & Pay** The Trustees consider that they, together with the Chief Executive, the Deputy Director and Head of Programmes (new position as of 1 September 2023) comprise the key management personnel in charge of directing and controlling, running and operating the charity on a day-to-day basis. Staff pay is reviewed annually with pay rises given with reference to industry standards, workload, quality of work and length of service. The overall salary budget is approved by the Finance Committee as part of the budgeting process. The Chief Executive's salary is set by the Chair. ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** The trustees (who are also the directors of Go Live Theatre Projects Ltd for the purposes of company law) are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Page 6 **Go Live Theatre Projects Ltd** ## **Report of the Trustees for the Year Ended 31 August 2024** ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued** Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charity SORP; - make judgements and estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware: - there is no relevant audit information of which the charitable company's auditors are unaware; and - the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. ## **AUDITORS** The auditors, Roy Pinnock & Co LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting. Approved by order of the board of trustees on 29 May 2025 and signed on its behalf by: C Prideaux - Trustee Page 7 ## **Report of the Independent Auditors to the Members of Go Live Theatre Projects Ltd** ## **Opinion** We have audited the financial statements of Go Live Theatre Projects Ltd (the 'charitable company') for the year ended 31 August 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the charitable company's affairs as at 31 August 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. ## **Other information** The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Page 8 **Report of the Independent Auditors to the Members of Go Live Theatre Projects Ltd** ## **Opinions on other matters prescribed by the Companies Act 2006** In our opinion, based on the work undertaken in the course of the audit: - the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and - the Report of the Trustees has been prepared in accordance with applicable legal requirements. ## **Matters on which we are required to report by exception** In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of trustees' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or - the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. ## **Responsibilities of trustees** As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Page 9 ## **Report of the Independent Auditors to the Members of Go Live Theatre Projects Ltd** ## **Our responsibilities for the audit of the financial statements** Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; We identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the business sector; We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, child protection, anti-bribery, employment, and health and safety legislation; We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and Identified laws and regulations were communicated within the audit team regularly and the team remained alert to look for instances of non-compliance throughout the audit. We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and override of controls, we: Performed analytical procedures to identify any unusual or unexpected relationships; Tested journal entries to identify unusual transactions; Assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and Investigated the rationale behind significant or unusual transactions. In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: agreeing financial statement disclosures to underlying supporting documentation; reading the minutes of meetings of those charged with governance; enquiring of management as to actual and potential litigation and claims; and Page 10 ## **Report of the Independent Auditors to the Members of Go Live Theatre Projects Ltd** reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the company's legal advisors. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. ## **Prior year not audited** The previous years financial statements were not audited We have checked that the previous year’s closing balances have been correctly brought forward to the current year . That accounting policies have been consistently applied and disclosed in accordance with FRS 102: and That the comparative information agrees with the amounts and other disclosures presented in the prior period financial statements. If there were any material misstatement in the opening balances then this could have an impact on the current years results as shown . ## **Use of our report** This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. Natalie Coleman FCCA (Senior Statutory Auditor) for and on behalf of Roy Pinnock & Co LLP Statutory Auditors Wren House 68 London Road St Albans Hertfordshire AL1 1NG 30 May 2025 Page 11 **Go Live Theatre Projects Ltd** ## **Statement of Financial Activities** ## **for the Year Ended 31 August 2024** |Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
**Charitable activities**
4
Theatregoing
Creative Skills
Fundraising
Personal Development
Investment income
3
**Total**
**EXPENDITURE ON**
Raising funds
5
**Charitable activities**
6
Theatregoing
Creative Skills
Personal Development
Other
**Total**
Net gains/(losses) on investments
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
265,438
136,861
10,643
217,592
4,971
11,402
646,907
299,644
365,262
-
-
44,986
709,892
10,245
(52,740)
335,336
282,596|Restricted
funds
£
428,135
-
-
-
-
-
428,135
-
7,847
172,690
207,825
-
388,362
-
39,773
133,548
173,321|31.8.24
Total
funds
£
693,573
136,861
10,643
217,592
4,971
11,402
1,075,042
299,644
373,109
172,690
207,825
44,986
1,098,254
10,245
(12,967)
468,884
455,917|31.8.23
Total
funds
£
776,326
116,682
29,686
59,444
-
17,855
999,993
217,300
402,370
381,469
-
-
1,001,139
(20,247)
(21,393)
490,277
468,884| |---|---|---|---|---| The notes form part of these financial statements Page 12 **Go Live Theatre Projects Ltd** ## **Balance Sheet 31 August 2024** |Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
12
1,170
Investments
13
353,512
354,682
**CURRENT ASSETS**
Debtors
14
61,945
Cash at bank
(68,066)
(6,121)
**CREDITORS**
Amounts falling due within one year
15
(65,964)
**NET CURRENT ASSETS**
(72,085)
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
282,597
**NET ASSETS**
282,597
**FUNDS**
17
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
funds
£
-
-
-
-
173,320
173,320
-
173,320
173,320
173,320|31.8.24
Total
funds
£
1,170
353,512
354,682
61,945
105,254
167,199
(65,964)
101,235
455,917
455,917
282,597
173,320
455,917|31.8.23
Total
funds
£
11,916
319,790
331,706
57,582
127,657
185,239
(48,061)
137,178
468,884
468,884
335,336
133,548
468,884| |---|---|---|---| These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 29 May 2025 and were signed on its behalf by: C Prideaux - Trustee The notes form part of these financial statements Page 13 **Go Live Theatre Projects Ltd** ## **Cash Flow Statement** ## **for the Year Ended 31 August 2024** |Notes
**Cash flows from operating activities**
Cash generated from operations
1
Interest paid
Finance costs paid
Net cash provided by operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Purchase of fixed asset investments
Sale of fixed asset investments
Change in cash held by investment manage
Dividends received
Net cash used in investing activities
**Change in cash and cash equivalents in**
**the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end of**
**the reporting period**|31.8.24
£
6,985
(251)
(6,353)
381
(1,276)
(489,732)
466,255
-
1,969
(22,784)
(22,403)
127,657
105,254|31.8.23
£
75,226
-
(5,106)
70,120
-
(297,336)
40,000
1,461
6,692
(249,183)
(179,063)
306,720
127,657| |---|---|---| The notes form part of these financial statements Page 14 **Go Live Theatre Projects Ltd** ## **Notes to the Cash Flow Statement** ## **for the Year Ended 31 August 2024** ## **1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES** |**ACTIVITIES**||| |---|---|---| |**Net expenditure for the reporting period (as per the Statement of**
**Financial Activities)**
**Adjustments for:**
Depreciation charges
(Gain)/losses on investments
Interest paid
Finance costs
Dividends received
(Increase)/decrease in debtors
Increase in creditors
**Net cash provided by operations**|31.8.24
£
(12,967)
12,022
(10,245)
251
6,353
(1,969)
(4,363)
17,903
6,985|31.8.23
£
(21,393)
5,707
20,247
-
5,106
(6,692)
61,048
11,203| |||75,226| **2. ANALYSIS OF CHANGES IN NET FUNDS** ||At 1.9.23|Cash flow|At 31.8.24| |---|---|---|---| ||£|£|£| |**Net cash**|||| |Cash at bank|127,657|(22,403)|105,254| ||127,657|(22,403)|105,254| |**Total**|127,657|(22,403)|105,254| The notes form part of these financial statements Page 15 **Go Live Theatre Projects Ltd** ## **Notes to the Financial Statements** ## **for the Year Ended 31 August 2024** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. ## **Critical accounting judgements and key sources of estimation uncertainty** Preparation of the financial statements requires the Trustees and management to make significant judgements and estimates. The areas in the financial statements where these judgements and estimates have been made include: - the allocation of support costs; - the estimation of the useful economic life of tangible fixed assets; and - the estimation of future income and expenditure for the purpose of assessing going concern. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Income comprises donations, grants, receipts from charitable activities (including discounted ticket sales, programme fees and workshop fees), rental income, and income from fundraising events such as gala evenings. Donations received under Gift Aid, including Theatre Guardians' donations, are recognised when the charity has confirmation of both the amount and settlement date. In the event of donations pledged but not received, the amount is accrued for where the receipt is considered probable. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period. Grants have been included as income from charitable activities where these amount to a contract for services, but as donations where the money is given in response to an appeal or with greater freedom of use, for example monies for core funding. Income from the sale of discounted theatre tickets is recognised on the date of the performance to which the tickets relate. Fees receivable for programmes and workshops are recognised on the date the workshop or programme event occurs. Studio rental income is recognised on the provision of the rental space. Ticket and auction income from galas and fundraising events is recognised on the date the event takes place. continued... Page 16 **Go Live Theatre Projects Ltd** ## **Notes to the Financial Statements - continued** ## **for the Year Ended 31 August 2024** ## **1. ACCOUNTING POLICIES - continued** ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. All expenditure is accounted for on an accruals basis. Expenditure comprises direct costs and support costs. All expenses, including support costs, are allocated or apportioned to the applicable expenditure headings as described below. The classification between activities is as follows: Expenditure on raising funds includes all expenditure associated with raising funds for the charity. This includes staff costs associated with fundraising (including time spent by the director on fundraising activities) and the rental of the third floor studio, all direct costs associated with fundraising and allocated support costs. Expenditure on charitable activities includes all costs associated with furthering the charitable purposes of the charity through the provision of its charitable activities. These costs include all expenditure directly attributable to programmes, such as directly attributable staff costs, the cost of workshop practitioners and the cost of theatre tickets, as well as allocated support costs. All expenditure is stated inclusive of irrecoverable VAT. ## **Allocation and apportionment of costs** Support costs represent indirect charitable expenditure. In order to carry out the primary purposes of the charity, it is necessary to provide support in the form of personnel development, financial procedures, PR and marketing, provision of office services and equipment, and a suitable working environment. Governance costs comprise the costs involving the public accountability of the charity (including independent examination/ audit costs) and costs in respect to its compliance with regulation and good practice. Support costs and governance costs are apportioned based on the ratio of time spent working on the charity's various programmes by staff. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Improvements to property - in accordance with the property Computer equipment - 25% on reducing balance ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. continued... Page 17 **Go Live Theatre Projects Ltd** ## **Notes to the Financial Statements - continued** ## **for the Year Ended 31 August 2024** ## **1. ACCOUNTING POLICIES - continued** ## **Fund accounting** Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Hire purchase and leasing commitments** Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. ## **Pension costs and other post-retirement benefits** The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. Contributions to the personal pension schemes of the charity's employees and the charity's defined contribution employer pension scheme are charged to the statement of financial activities when they are payable to the scheme. The charity's contributions are restricted to the contributions disclosed in the staff costs note. The charity has no liability beyond making its contributions and paying across the deductions for the employees' contributions. The assets of the schemes are held separately from those of the company in independently administered funds ## **Assessment of going concern** The Trustees have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements. The Trustees have made this assessment in respect to a period of one year from the date of approval of these accounts. Free reserves, excluding fixed assets, at 31 August 2024 stood at £281,427 (2023 - £323,420) which is below the desired level of six months of budgeted operating expenses. The charity's aim is to build its free reserves back up over a 5-year period, after having had to use a portion of them during the pandemic. For 2024/25, we plan to focus on generating more unrestricted income streams and have expanded the fundraising team. In the light of this and the healthy amount of funds held, the Trustees have concluded that the charity is not in any financial jeopardy, remains a going concern and will have sufficient resources to meet its liabilities as they fall due. ## **Gifts in kind** continued... Page 18 **Go Live Theatre Projects Ltd** ## **Notes to the Financial Statements - continued** ## **for the Year Ended 31 August 2024** ## **1. ACCOUNTING POLICIES - continued** Substantial contributions are made to the charity by theatres and producers through the supply of tickets at a discounted price. The fair value of a ticket is considered to be the average open market price, which will not necessarily equate to the ticket's face value and is impossible to reliably estimate due to the variety of ticket vendors in operation. As such, the discount to the charity from the fair value of the tickets cannot be reliably estimated and is not included within income as a gift in kind in the statement of financial activities. Many items generously donated to the Charity to be auctioned at fundraising events include a 'moneycan't-buy element' such as meeting the cast of a show, and therefore no commercial value has been placed on these gifts in kind in the financial statements. ## **Services provided by volunteers** For the purposes of these financial statements, no value has been placed on administrative and other services provided by volunteers in accordance with the Charities SORP FRS 102. ## **Investments** Listed investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Realised and unrealised gains (or losses) are credited (or debited) to the statement of financial activities in the year in which they arise. The charity does not acquire put options, derivatives or other complex financial instruments. Realised gains (or losses) on investment assets are calculated as the difference between disposal proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains (or losses) are calculated as the difference between the fair value at the year end and their carrying value at that date. Realised and unrealised investment gains (or losses) are combined in the statement of financial activities and are credited (or debited) in the year in which they arise. The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities within particular sectors or sub sectors. ## **Debtors** Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the future cash receipt where such discounting is material. ## **Cash at bank and in hand** Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition. Deposits for more than three months but less than one year have been disclosed as short term deposits. Cash placed on deposit for more than one year is disclosed as a fixed asset investment. continued... Page 19 **Go Live Theatre Projects Ltd** ## **Notes to the Financial Statements - continued for the Year Ended 31 August 2024** ## **1. ACCOUNTING POLICIES - continued** ## **Creditors and provisions** Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material. ## **Fund structure** Unrestricted general funds represent those monies which are freely available for application towards achieving any charitable purpose that falls within the charity's charitable objects at the discretion of the Trustees. Restricted funds comprise monies raised for or restricted by donor imposed conditions for a specific purpose. ## **Leased assets** Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the statement of financial activities on a straight-line basis over the term of the lease. ## **2. DONATIONS AND LEGACIES** |Donations
Grants|31.8.24
£
227,454
466,119
693,573|31.8.23
£
256,518
519,808| |---|---|---| |||776,326| continued... Page 20 **Go Live Theatre Projects Ltd** ## **Notes to the Financial Statements - continued for the Year Ended 31 August 2024** ## **2. DONATIONS AND LEGACIES - continued** |**1.Donations**|**1.Donations**|**1.Donations**|**1.Donations**|**1.Donations**|**1.Donations**|**1.Donations**| |---|---|---|---|---|---|---| |**Unrestricted**
**Restricted**
**Total Funds**||||||| |**Funds**
**Funds**
**2024**||||||| |**£**||**£**
**£**||||| |Individual donors||73,026||||73,026| |Raise Your Hands||32,323||||32,323| |The Childhood Trust||25,000||||25,000| |St Martin’s Theatre Ltd||20,000||||20,000| |Almacantar Ltd||10,000||||10,000| |The Joseph Levy Foundation||10,000||||10,000| |Todaytix Group|||10,000|||10,000| |IM Global Partner||9,000||||9,000| |Go Live Dress Circle Club||8,600||||8,600| |Barings||6,319||||6,319| |The Fagus Anstruther Memorial Trust||5,000||||5,000| |Donations < £5,000 and Gift Aid||14,984||3,200||18,184| |
**Total funds**|**214,252**||**13,200**||**227,452**|| |||||||| |**Unrestricted**
**Restricted**
**Total Funds**||||||| |**Funds**
**Funds**
**2023**||||||| |**£**|**£**
**£**|||||| |Individual donors|126,302||||126,302|| |Raise Your Hands||28,700||||28,700| |The Halabi Thomaz Foundation||25,000||||25,000| |St Martin's Theatre||15,000||||15,000| |Go Live Dress Circle Club||10,350||||10,350| |Almacantar Ltd||10,000||||10,000| |Barings||11,014||||11,014| |Donations < £5,000 and Gift Aid||30,152||||30,152| |**Total funds**|**256,518**||||**256,518**|| |||||||| |||||||| |**2.Grants Receivable**||||||| |**Unrestricted**
**Restricted**
**Total Funds**||||||| |**Funds**
**Funds**
**2024**||||||| |**£**
**£**
**£**||||||| |Lehman Brothers Foundation Europe
83,000
83,000||||||| |The Garek Trust
77,000
77,000||||||| |John Lyon's Charity
61,500
61,500||||||| |The Childhood Trust
25,000
25,000||||||| |Westminster Foundation
26,186
26,186||||||| |Buffini Chao Foundation
25,000
25,000||||||| |Colwinston Charitable Trust
25,000
25,000||||||| |The Linbury Trust
25,000
25,000||||||| |Newsworks
11,000
11,000||||||| |The Backstage Trust
10,000
10,000||||||| |**2.Grants Receivable**|||| |---|---|---|---| ||**Unrestricted**|**Restricted**|**Total Funds**| ||**Funds**|**Funds**|**2024**| ||**£**|**£**|**£**| |Lehman Brothers Foundation Europe||83,000|83,000| |The Garek Trust||77,000|77,000| |John Lyon's Charity||61,500|61,500| |The Childhood Trust|25,000||25,000| |Westminster Foundation|26,186||26,186| |Buffini Chao Foundation||25,000|25,000| |Colwinston Charitable Trust||25,000|25,000| |The Linbury Trust||25,000|25,000| |Newsworks||11,000|11,000| |The Backstage Trust||10,000|10,000| continued... Page 21 **Go Live Theatre Projects Ltd** ## **Notes to the Financial Statements - continued** ## **for the Year Ended 31 August 2024** ## **2. DONATIONS AND LEGACIES - continued** |Mars Wrigley|||10,000||10,000| |---|---|---|---|---|---| |Ovingdean Hall Foundation|||10,000||10,000| |Anonymous|||10,000||10,000| |Heathrow Community Trust's Projects for YP|||8,739||8,739| |Brown Rudnick Charitable Foundation Corp.|||8,371||8,371| |St Giles and St George|||5,023||5,023| |The Insurance Industry Charitable Foundation|||5,000||5,000| |Noel Coward Foundation|||5,000||5,000| |The Gerald and Gail Ronson Family Foundation|||5,000||5,000| |Shaftesbury Capital|||5,000||5,000| |The Big Give Trust|||5,000||5,000| |The Victoria Wood Foundation|||5,000||5,000| |Westminster Amalgamated Charities|||5,000||5,000| |Other grants < £5000|||10,300||10,300| |
**Total Funds**|**51,186**|**441,119**||**466,119**|| ||||||| ||||||| |**Unrestricted**
**Restricted**
**Total Funds**|||||| |**Funds**
**Funds**
**2023**|||||| |**£**
**£**
**£**|||||| |Lehman Brothers Foundation Europe
58,249
58,249|||||| |John Lyon's Charity
52,000
52,000|||||| |The Childhood Trust
50,000
50,000|||||| |Society of London Theatre
37,500
37,500|||||| |Bank of America
26,433
26,433|||||| |The Foyle Foundation
25,000
25,000|||||| |Kusuma Trust
25,000
25,000|||||| |The Linbury Trust
25,000
25,000|||||| |Garfield Weston Foundation
25,000
25,000|||||| |City Bridge Foundation
23,760
23,760|||||| |Colwinston Charitable Trust
20,000
20,000|||||| |Ovingdean Hall Foundation
15,000
15,000|||||| |Young Westminster Foundation
10,513
10,513|||||| |Barings
10,336
10,336|||||| |Shaftesbury PLC
10,000
10,000|||||| |Anonymous
10,000
10,000|||||| |St James's Place Charitable Foundation
10,000
10,000|||||| |City of Westminster
9,700
9,700|||||| |iM Global Partner
9,000
9,000|||||| |Brown Rudnick Charitable Foundation Corp.
8,817
8,817|||||| |The Wates Foundation
7,000
7,000|||||| |Investec
6,000
6,000|||||| |Hyde Park Place Estates Charity
5,000
5,000|||||| |Birkdale Trust for Hearing Impaired
5,000
5,000|||||| |The Garrick Charitable Trust
5,000
5,000|||||| |The Peter Stebbings Memorial Charity
5,000
5,000|||||| |The Gerald and Gail Ronson Family Foundation
5,000
5,000|||||| continued... Page 22 **Go Live Theatre Projects Ltd** ## **Notes to the Financial Statements - continued** ## **for the Year Ended 31 August 2024** ## **2. DONATIONS AND LEGACIES - continued** |The Noel Coward Foundation
MFPA Childrens Arts
Other grants < £5000
**Total funds**
**3.**
**INVESTMENT INCOME**
Studio Rental
Interest from investments
Dividends from investments
**4.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
Theatre Tickets
Theatregoing
Programme Fees &
Workshop
Theatregoing
Theatre Tickets
Creative Skills
Programme Fees &
Workshop
Creative Skills
Fund Raising
Fundraising
Theatre Tickets
Personal Development
Programme Fees &
Workshop
Personal Development||5,000|5,000|5,000| |---|---|---|---|---| |||5,000||5,000| |||10,500||10,500| ||**519,808**|||**519,808**| |||||| |||||| ||||31.8.24
£
3,417
6,016
1,969
11,402
31.8.24
£
97,941
38,920
6,668
3,975
217,592
2,001
2,970
370,067|31.8.23
£
11,163
-
6,692
17,855
31.8.23
£
102,494
14,188
8,966
20,720
59,444
-
-
205,812| continued... Page 23 **Go Live Theatre Projects Ltd** ## **Notes to the Financial Statements - continued** ## **for the Year Ended 31 August 2024** ## **5. RAISING FUNDS** |**Raising donations and legacies**
Staff costs
Sundries
Event Costs
Ticket Costs
Support costs
**Other trading activities**
Bad debts
**Investment management costs**
Investment Management Costs
Aggregate amounts
**6.**
**CHARITABLE ACTIVITIES COSTS**
Theatregoing
Creative Skills
Personal Development|Direct
Costs
£
282,834
116,652
166,281
565,767|31.8.24
£
139,922
9,118
61,862
2,057
81,532
294,491
31.8.24
£
3,895
31.8.24
£
1,258
299,644
Support
costs (see
note 7)
£
90,275
56,038
41,544
187,857|31.8.23
£
126,736
3,039
20,594
1,901
64,424| |---|---|---|---| ||||216,694| ||||31.8.23
£
-
31.8.23
£
606
217,300| ||||Totals
£
373,109
172,690
207,825| ||||753,624| continued... Page 24 **Go Live Theatre Projects Ltd** ## **Notes to the Financial Statements - continued** ## **for the Year Ended 31 August 2024** ## **7. SUPPORT COSTS** |**SUPPORT COSTS**||||| |---|---|---|---|---| |||||Information| ||Management|Finance||technology| ||£|£||£| |Raising donations and legacies|49,919|6,353||16,973| |Other resources expended|7,446||-|-| |Theatregoing|90,275||-|-| |Creative Skills|56,038||-|-| |Personal Development|41,544||-|-| ||245,222|6,353||16,973| |||Governance||| ||Other|costs||Totals| ||£|£||£| |Raising donations and legacies|-|8,287||81,532| |Other resources expended|37,289||-|44,735| |Theatregoing|-||-|90,275| |Creative Skills|-||-|56,038| |Personal Development|-||-|41,544| ||37,289|8,287||314,124| **8. NET INCOME/(EXPENDITURE)** Net income/(expenditure) is stated after charging/(crediting): ||31.8.24|31.8.23| |---|---|---| ||£|£| |Audit Fee|7,500|-| |Independent Examination|-|4,843| |Depreciation - owned assets|12,022|5,707| |Other operating leases|97,818|70,173| continued... Page 25 **Go Live Theatre Projects Ltd** ## **Notes to the Financial Statements - continued for the Year Ended 31 August 2024** ## **9. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 August 2024 nor for the year ended 31 August 2023. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 August 2024 nor for the year ended 31 August 2023. ## **10. STAFF COSTS** |**STAFF COSTS**||| |---|---|---| |Wages and salaries
Social security costs
Other pension costs|31.8.24
£
474,178
43,839
19,624
537,641|31.8.23
£
445,454
41,321
22,931| |||509,706| The average monthly number of employees during the year was as follows: |Management
Administration|31.8.24
2
12
14|31.8.23
1
12
13| |---|---|---| The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was: |||31.8.24|31.8.23| |---|---|---|---| |£70,001|- £80,000|1|1| There was one employee who earned between £70,000 and £80,000 (excluding employer's pension contributions but including benefits) during the year (2023 - one). £1,250 was paid in employer's pension contributions for this employee (2023- £7,020). The key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day-to-day basis comprise the Chief Executive and the Deputy Director. The total remuneration (including taxable benefits, employer's pension contributions and employer's national insurance contributions) of the key management personnel for the year was £138,637 (2023 - £151,678). continued... Page 26 **Go Live Theatre Projects Ltd** ## **Notes to the Financial Statements - continued** ## **for the Year Ended 31 August 2024** |**11.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
Restricted
fund
funds
£
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
256,518
519,808
**Charitable activities**
Theatregoing
116,682
-
Creative Skills
29,686
-
Fundraising
59,444
-
Investment income
17,855
-
**Total**
480,185
519,808
**EXPENDITURE ON**
Raising funds
217,300
-
**Charitable activities**
Theatregoing
187,326
215,044
Creative Skills
79,847
301,622
**Total**
484,473
516,666
Net gains/(losses) on investments
(20,247)
-
**NET INCOME/(EXPENDITURE)**
(24,535)
3,142
**RECONCILIATION OF FUNDS**
Total funds brought forward
359,871
130,406
**TOTAL FUNDS CARRIED FORWARD**
335,336
133,548|Total
funds
£
776,326
116,682
29,686
59,444
17,855
999,993
217,300
402,370
381,469
1,001,139
(20,247)
(21,393)
490,277
468,884| |---|---| continued... Page 27 **Go Live Theatre Projects Ltd** ## **Notes to the Financial Statements - continued** ## **for the Year Ended 31 August 2024** ## **12. TANGIBLE FIXED ASSETS** |Improvements
to
property
£
**COST**
At 1 September 2023
30,786
Additions
-
Disposals
(30,786)
At 31 August 2024
-
**DEPRECIATION**
At 1 September 2023
27,884
Charge for year
2,902
Eliminated on disposal
(30,786)
At 31 August 2024
-
**NET BOOK VALUE**
At 31 August 2024
-
At 31 August 2023
2,902
**13.**
**FIXED ASSET INVESTMENTS**
Listed
investments
£
**MARKET VALUE**
At 1 September 2023
316,409
Additions
486,174
Disposals
(466,255)
Revaluations
10,245
At 31 August 2024
346,573
**NET BOOK VALUE**
At 31 August 2024
346,573
At 31 August 2023
316,409|Computer
equipment
£
60,380
1,276
(60,380)
1,276
51,366
9,120
(60,380)
106
1,170
9,014
Cash and
settlements
pending
£
3,381
3,558
-
-
6,939
6,939
3,381|Totals
£
91,166
1,276
(91,166)
1,276
79,250
12,022
(91,166)
106
1,170
11,916
Totals
£
319,790
489,732
(466,255)
10,245
353,512
353,512
319,790| |---|---|---| There were no investment assets outside the UK. continued... Page 28 **Go Live Theatre Projects Ltd** ## **Notes to the Financial Statements - continued for the Year Ended 31 August 2024** ## **13. FIXED ASSET INVESTMENTS - continued** Cost or valuation at 31 August 2024 is represented by: |Listed
investments
£
Valuation in 2024
10,246
Cost
336,327
346,573|Cash and
settlements
pending
£
-
6,939
6,939|Totals
£
10,246
343,266| |---|---|---| |||353,512| If investments had not been revalued they would have been included at the following historical cost: Cost |31.8.24|31.8.23| |---|---| |£|£| |343,266|319,790| The investment portfolio was valued on an open market basis on 31 August 2024 by Lombard Odier. ## **14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** ||31.8.24|31.8.23| |---|---|---| ||£|£| |Trade debtors|3,322|12,995| |Other debtors|16,186|-| |Prepayments and accrued income|42,437|44,587| ||61,945|57,582| continued... Page 29 **Go Live Theatre Projects Ltd** ## **Notes to the Financial Statements - continued** ## **for the Year Ended 31 August 2024** ## **15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** ||31.8.24|31.8.23| |---|---|---| ||£|£| |Trade creditors|4,566|16,637| |Social security and other taxes|8,184|11,887| |Other creditors|1,819|-| |Funds held as an agent|2,500|3,000| |Accruals and deferred income|48,895|16,537| ||65,964|48,061| ## **16. LEASING AGREEMENTS** Minimum lease payments under non-cancellable operating leases fall due as follows: |Within one year
Between one and five years
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**Restricted funds**
Theatregoing
Creative Skills and Personal
Development
Personal Development
**TOTAL FUNDS**|At 1.9.23
£
335,336
11,107
92,235
30,206
133,548
468,884|31.8.24
£
97,921
157,651
255,572
Net
movement
in funds
£
(52,739)
60,695
(23,563)
2,640
39,772
(12,967)|31.8.23
£
57,875
-| |---|---|---|---| ||||57,875| ||||At
31.8.24
£
282,597
71,802
68,672
32,846| ||||173,320| ||||455,917| ## **17. MOVEMENT IN FUNDS** continued... Page 30 **Go Live Theatre Projects Ltd** ## **Notes to the Financial Statements - continued for the Year Ended 31 August 2024** ## **17. MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Theatregoing
Creative Skills and Personal
Development
Personal Development
**TOTAL FUNDS**|Incoming
resources
£
646,907
231,782
88,636
107,717
428,135
1,075,042|Resources
expended
£
(709,891)
(171,087)
(112,199)
(105,077)
(388,363)
(1,098,254)|Gains and
losses
£
10,245
-
-
-
-
10,245|Movement
in funds
£
(52,739)
60,695
(23,563)
2,640
39,772
(12,967)| |---|---|---|---|---| ## **Comparatives for movement in funds** |**Unrestricted funds**
General fund
**Restricted funds**
Theatregoing
Creative Skills and Personal
Development
**TOTAL FUNDS**|At 1.9.22
£
359,871
10,801
119,605
130,406
490,277|Net
movement
in funds
£
(24,535)
306
2,836
3,142
(21,393)|At
31.8.23
£
335,336
11,107
122,441| |---|---|---|---| ||||133,548| ||||468,884| continued... Page 31 **Go Live Theatre Projects Ltd** ## **Notes to the Financial Statements - continued for the Year Ended 31 August 2024** ## **17. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows: |Incoming
resources
£
**Unrestricted funds**
General fund
480,185
**Restricted funds**
Theatregoing
215,350
Creative Skills and Personal
Development
304,458
519,808
**TOTAL FUNDS**
999,993
A current year 12 months and prior year 12 months combined
**Unrestricted funds**
General fund
**Restricted funds**
Theatregoing
Creative Skills and Personal
Development
Personal Development
**TOTAL FUNDS**|Resources
Gains and
expended
losses
£
£
(484,473)
(20,247)
(215,044)
-
(301,622)
-
(516,666)
-
(1,001,139)
(20,247)
position is as follows:
Net
movement
At 1.9.22
in funds
£
£
359,871
(77,274)
10,801
61,001
119,605
(20,727)
-
2,640
130,406
42,914
490,277
(34,360)|Movement
in funds
£
(24,535)
306
2,836
3,142
(21,393)
At
31.8.24
£
282,597
71,802
98,878
2,640
173,320
455,917| |---|---|---| |||| |||| |||| continued... Page 32 **Go Live Theatre Projects Ltd** ## **Notes to the Financial Statements - continued for the Year Ended 31 August 2024** ## **17. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Theatregoing
Creative Skills and Personal
Development
Personal Development
**TOTAL FUNDS**|Incoming
resources
£
1,127,092
447,132
393,094
107,717
947,943
2,075,035|Resources
expended
£
(1,194,364)
(386,131)
(413,821)
(105,077)
(905,029)
(2,099,393)|Gains and
losses
£
(10,002)
-
-
-
-
(10,002)|Movement
in funds
£
(77,274)
61,001
(20,727)
2,640
42,914
(34,360)| |---|---|---|---|---| ## **Restricted Funds** ## **Theatregoing** Opening the doors to London's world-class theatre to children and young people who have fewer opportunities or need specialist access support. ## **Creative Skills and Personal Development** Engaging young people in performing arts education, to develop valuable skills and knowledge to support their studies and future careers; using the theatre-making process and drama techniques to build confidence as well as life and social skills. ## **18. RELATED PARTY DISCLOSURES** During the year, the charity received donations of £nil (2023- £1,000) from TMCT Associates and Palmer Tabor Properties. Christopher Tabor is a Director of these companies. During the year, donations totalling £21,250 (2023- £21,679) were received from 5 (2023 - 12) Trustees. At the end of the year, there were no amounts outstanding in respect of any of the above transactions. continued... Page 33 **Go Live Theatre Projects Ltd** ## **Notes to the Financial Statements - continued** ## **for the Year Ended 31 August 2024** ## **19. AUDITOR LIABILITY LIMITATION AGREEMENT** In the engagement letter dated 29th October 2024 the charity has agreed that the auditors liability is limited to five times the audit fee. ## **20. COMPANY LIMITED BY GUARANTEE** The charity is limited by guarantee. In the event of the charity being wound up, members are required to contribute an amount not exceeding £10 each. ## **21. FUNDS HELD AS AN AGENT** The Charity acts as an agent in distributing the annual Michael Northen bursary for lighting design. As a result, grant payments of £500 (2023 - £500), have been excluded from the statement of financial activities as the charitable company does not have control over the application of the funds. At 31 August 2024 the Charity held funds amounting to £2,500 (2023 - £3,000) on behalf of the late Robert Camac for distribution in respect of future bursaries. Page 34 **Go Live Theatre Projects Ltd** |**Detailed Statement of Financial Activities**
**for the Year Ended 31 August 2024**
**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Grants
**Investment income**
Studio Rental
Interest from investments
Dividends from investments
**Charitable activities**
Fund Raising
Theatre Tickets
Programme Fees & Workshop
**Total incoming resources**
**EXPENDITURE**
**Raising donations and legacies**
Wages
Social security
Pensions
Sundries
Event Costs
Ticket Costs
**Other trading activities**
Bad debts
**Investment management costs**
Investment Management Costs|31.8.24
£
227,454
466,119
693,573
3,417
6,016
1,969
11,402
217,592
106,610
45,865
370,067
1,075,042
123,455
11,271
5,196
9,118
61,862
2,057
212,959
3,895
1,258|31.8.23
£
256,518
519,808| |---|---|---| |||776,326
11,163
-
6,692| |||17,855
59,444
111,460
34,908| |||205,812| |||999,993
110,760
10,274
5,702
3,039
20,594
1,901| |||152,270
-
606| This page does not form part of the statutory financial statements Page 35 **Go Live Theatre Projects Ltd** ## **Detailed Statement of Financial Activities** ## **for the Year Ended 31 August 2024** |**Investment management costs**
**Charitable activities**
Wages
Social security
Pensions
Postage and stationery
Sundries
Tickets
Practioners
**Other**
Bank interest
**Support costs**
**Management**
Wages
Social security
Pensions
Property Lease
Rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Advertising and Marketing
No description
Health & Safety
Subscriptions & Membership
Entertaining
Travel
Cleaning
Sundry
Repairs & Renewals
Improvements to property
Computer equipment
**Finance**
Credit Card Fees|31.8.24
£
270,762
25,143
11,590
4,491
27,421
131,259
95,101
565,767
251
79,961
7,425
2,838
97,818
4,390
7,231
3,194
7,310
882
7,003
1,581
3,997
1,131
1,024
177
2,848
2,918
1,472
2,902
9,120
245,222
6,353|31.8.23
£
262,389
24,340
13,507
1,946
94,357
141,693
56,087| |---|---|---| |||594,319
-
72,305
6,707
3,722
70,173
7,197
8,384
2,641
7,264
2,970
14,362
1,567
7,469
1,324
-
-
4,537
-
3,743
3,108
2,599| |||220,072
5,106| This page does not form part of the statutory financial statements Page 36 **Go Live Theatre Projects Ltd** |**Detailed Statement of Financial Activities**
**for the Year Ended 31 August 2024**
**Finance**
**Information technology**
IT Development and Support
**Other**
Office Move
**Governance costs**
Auditors' remuneration
Sundries
Total resources expended
**Net expenditure before gains and losses**
**Realised recognised gains and losses**
Unrealised gains on Investment
Net gains on listed Investment
**Net expenditure**|31.8.24
£
16,973
37,289
7,500
787
8,287
1,098,254
(23,212)
10,245
-
(12,967)|31.8.23
£
23,923
-
4,843
-
4,843
1,001,139
(1,146)
(20,546)
299
(21,393)| |---|---|---| This page does not form part of the statutory financial statements Page 37