Docusign Envelope ID: 728AFAC0-50C6-42D1-BDCD-69772C75E419 Company registration number: 03103602 Charity number: 1054121 TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 THE NATIONAL STUDENT DRAMA FESTIVAL LTD (A company limited by guarantee) Docusign Envelope ID: 728AFAC0-50C6-42D1-BDCD-69772C75E419 ## THE NATIONAL STUDENT DRAMA FESTIVAL LTD (A company limited by guarantee) ## CONTENTS ||Page| |---|---| |**Reference and administrative details of the Company, its Trustees and advisers**|1| |**Trustees' report**|2 - 4| |**Independent examiner's report**|5| |**Statement of financial activities**|6| |**Balance sheet**|7| |**Notes to the financial statements**|8 - 18| Docusign Envelope ID: 728AFAC0-50C6-42D1-BDCD-69772C75E419 ## THE NATIONAL STUDENT DRAMA FESTIVAL LTD (A company limited by guarantee) ## REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2023 |**Trustees**|D Brodie| |---|---| ||B Canning (appointed 8 June 2023)| ||T Dawadu (appointed 23 February 2023)| ||Y Hafesji (resigned 22 April 2024)| ||E Kendall| ||R Leipacher (appointed 23 February 2023)| ||S Nicholson, Chair (resigned 22 February 2024)| ||J Royce (resigned 1 July 2023)| |**Company registered**
**number**
03103602
**Charity registered number**
1054121
**Registered office**
LCB Depot
Rutland Street
Leicester
England
LE1 1RE
**Chief executive officer**
Keerthi Kollimada, Co-CEO until 31/07/2024, CEO from 01/08/2024
Nathan Powell, Co-CEO until 01/08/2024
**Bankers**
Lloyds TSB
47 High Street
Brentwood
Essex
CM14 4RN
**Independent Examiner**
Janice Matthews FCA
Menzies LLP
Magna House
18-32 London Road
Staines-Upon-Thames
TW18 4BP|| Page 1 Docusign Envelope ID: 728AFAC0-50C6-42D1-BDCD-69772C75E419 ## THE NATIONAL STUDENT DRAMA FESTIVAL LTD (A company limited by guarantee) ## TRUSTEES' REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2023 The Trustees present their annual report together with the financial statements of the charity for the year ended 30 September 2023, which are also prepared to meet the requirements for a directors’ report and accounts for Companies House purposes. The reference and administrative details set out on page 1 form part of this report. The financial statements comply with the Charity Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). ## **PRINCIPAL ACTIVITY** The principal activity of the company continues to be the promotion and advancement for public benefit (in particular 16 to 26-year-old students and young people from underrepresented backgrounds) of knowledge, skills, education and opportunity for careers in the arts. NSDF identifies and nurtures talented individuals aged 16 to 26, supporting and mentoring them to make exceptional theatre. We are a bridge between young artists and the theatre industry. The Festival is annual in the spring of each year. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** The NSDF Co-CEO roles are part time, covering 4 days of the week between an Artistic Director and an Executive Director. The NSDF Administrator is on a freelance contract. A freelance Technical Director and Production Coordinator and a team of Associates work as necessary throughout the year. Additional freelance Technical Advisors work at the Festival under the leadership of the Technical Director. All report to the CEOs. ## **MAJOR RISKS** The Trustees maintain a Risk Register of current and potential risks to which the company is exposed. The Risk Register is reviewed quarterly and includes a strategy and action plan for risk avoidance and/or mitigation. The register is colour coded, and talked through at each board meeting, to ensure robust Board oversight. ## **OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT** In shaping our objectives for the year and planning our activities, the Trustees have considered the Charity Commission’s guidance on public benefit, including the guidance ‘public benefit: running a charity (PB2)’. NSDF celebrates, promotes and produces the work of young and emerging artists throughout the year. NSDF is an innovative, unique and wide-reaching youth arts charity, which consistently bridges the gap between young people and the professional world. NSDF ensures that the artists embrace the communities they serve as the young practitioners are working together with their peers who will be their future audience. NSDF has been working with thousands of young people each year, since the Festival began in 1956 and is committed to providing a platform to present the best theatre created by young people to be seen by both their peers and industry professionals and the industry in general. NSDF is committed to creating a theatre industry representative of the diversity of Britain. ## **ACHIEVEMENTS AND PERFORMANCE** ## FESTIVAL 23 2023 saw the big reset period for NSDF, acknowledging the change in the theatre making landscape since the COVID19 pandemic. We began a process of direct consultation and development with the young people we support. With the aim of understanding how NSDF can have the greatest impact on the sector. For the first time in the festival’s history, NSDF23 was a tour through which we partnered with Curve Theatre Leicester, Derby Theatre, Old Diorama and Camden Peoples Theatre London and Contact Manchester. In just 7 days, we delivered over 208 events including 40 Workshops, 45 Technical Theatre Training Workshops, 19 Open Auditions, 6 Online Masterclasses and 5 Panel Discussions reaching a total of 1,736 attendees online and in-person. Through our relationship with Improbable, we ran Devoted and Disgruntled workshops to deepen conversations with participants to really capture and evaluate our offerings. In response to those findings we will be offering space, time and money to help develop the young people as makers and help to find new pathways into the industry. Page 2 Docusign Envelope ID: 728AFAC0-50C6-42D1-BDCD-69772C75E419 ## THE NATIONAL STUDENT DRAMA FESTIVAL LTD (A company limited by guarantee) ## TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 ## LAB Through this consultation with young theatre makers, we developed a new version of NSDF LAB. LAB is a space for all disciplines to meet and create together, without the fear of failure or expectation of a finished product. LAB has begun in Derby, Manchester and London, inviting young people to develop new networks of collaborators and a new support system. Young people have also been offered and provided with workshops and mentoring. ## NSDF DIGITAL COMMISIONS This year we commissioned three new digital pieces that were presented at NSDF23. This was an opportunity specifically for working-class theatre makers. These were distributed throughout the festival via our digital platforms. ## NOISES OFF During NSDF23 our festival magazine Noises Off continued the theme of the ‘Big Reset’ by focussing on giving young critics the space to develop as writers as well as providing a platform for more thought pieces. ## ASSOCIATES During NSDF23 and the lead up to it, young theatre makers were connected with industry professionals to provide guidance on the delivery of their shows and to support them during the festival. This connection to local professionals allowed the young people to create local connections to develop and support them in a meaningful way. ## OUTCOMES We were delighted to capture the impact of this work on participants, surveying them before and after our sessions to assess the real-world effects on participants. ## Results included: - Prior to NSDF 18% of participants felt like working in theatre was a viable career. After the festival 73% felt it was. - Prior to NSDF 12.5% of participants felt like entering the industry professionally was accessible to them. After festival 73% felt it was. - Prior to NSDF 6% of participants felt like they had a good understanding of how the industry worked. After the festival 73% felt like it did. "Really kind energy permeated throughout the festival, so tender and giving to young artists which made me feel that I have a place in this industry." Participant in Leicester Additionally, 83% of participants felt enthused about theatre and 92% felt that NSDF is the link between student theatre and making work professionally. "I had such a good time at NSDF this year. I especially enjoyed the D&D workshop where we discussed the change we wanted to see for young people in the theatre industry – it’s so rare to have the chance to discuss access, funding, job applications, networking, welfare and more, and actually be listened to." - Management Volunteer ## **FINANCIAL REVIEW** The company had an in-year deficit of £6,726, all of which was a movement in Unrestricted Reserves. Unrestricted funds brought forward were £8,347 which means that unrestricted funds of £1,621 are being carried forward at the balance sheet date. Restricted funds brought forward were £2,028. There was an equal amount of in-year Restricted Income & Expenditure, which means that Restricted Funds of £2,028 are being carried forward at the balance sheet date. As we come out of the post-pandemic period, and the accompanying increased competition for funding, our exec team and Board have tightened financial controls, and have already budgeted a reasonable surplus for the coming year. Regarding overall financial monitoring, our Executive Director continues to oversee the finances, and generating the management account reporting for the company, having worked in theatre finance for over a decade. The Administrator maintains the day-to-day accounting and processing, and reports to the Executive Director. All the financial systems at NSDF provide checks and balances and an appropriate audit trail, while maintaining a high level of accuracy and efficiency. All budgets are supervised, and invoices signed off by the Executive Director before being actioned or paid. All Board-level financial papers are first checked by and discussed with the Finance Committee, before they are then reported to the Board on a quarterly basis. Page 3 Docusign Envelope ID: 728AFAC0-50C6-42D1-BDCD-69772C75E419 ## THE NATIONAL STUDENT DRAMA FESTIVAL LTD (A company limited by guarantee) TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 ## **RESERVES POLICY** The Trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets (the ‘free reserves’) held by the charity should be between 3 and 6 months of the overhead resources expended. Many companies have seen their free reserves decrease due to the impact of the pandemic on the funding climate. However, as the charity has worked diligently to build reserves, at time of writing the free reserves are being built back to meet the reserves policy minimum, and the company continues to stabilise and grow. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. ## **GOING CONCERN** The charity has reviewed and updated its major areas of risk, particularly in relation to Covid-19. We are satisfied we remain a going concern moving forward, while fundraising is under close monitoring from the exec team and the Board. The trustees have a reasonable expectation that the charity has adequate resources to continue operational existence for the foreseeable future. For this reason, the trustees continue to adopt the going concern basis of accounting in preparing the annual financial statements. ## **SMALL COMPANY EXEMPTIONS** This report is prepared in accordance with the provisions of the Companies Act 2006 relating to small companies. Approved by order of the members of the board of Trustees and signed on their behalf by: ................................................ **Emma Kendall** Trustee & Chair Date: 27-Sep-2024 Page 4 Docusign Envelope ID: 728AFAC0-50C6-42D1-BDCD-69772C75E419 ## THE NATIONAL STUDENT DRAMA FESTIVAL LTD (A company limited by guarantee) ## INDEPENDENT EXAMINERS' REPORT ## **Independent examiner's report to the Trustees of The National Student Drama Festival Ltd ('the Company')** I report to the charity Trustees on my examination of the accounts of the Company for the year ended 30 September 2023. ## **Responsibilities and basis of report** As the Trustees of the Company (and 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 the Company's accounts 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 statement** 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 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. This report is made solely to the Company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Company's Trustees as a body, for my work or for this report. Signed: Dated: 27-Sep-2024 Janice Matthews FCA Menzies LLP Magna House 18-32 London Road Staines-Upon-Thames TW18 4BP Page 5 Docusign Envelope ID: 728AFAC0-50C6-42D1-BDCD-69772C75E419 ## THE NATIONAL STUDENT DRAMA FESTIVAL LTD (A company limited by guarantee) ## STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 SEPTEMBER 2023 |**Note**
**Income from:**
Donations and legacies:
2
Grants
_._ Other donations and legacies
Other trading activities
3
Investments
4
**Total income**
**Expenditure on:**
Charitable activities
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Restricted**
**funds**
**2023**
**£**
**-**
**6,864**
**-**
**-**
**6,864**
**6,864**
**6,864**
**-**
**2,028**
**-**
**2,028**|**Unrestricted**
**funds**
**2023**
**£**
**63,084**
**532**
**30,000**
**8**
**93,624**
**100,350**
**100,350**
**(6,726)**
**8,347**
**(6,726)**
**1,621**|**Total**
**funds**
**2023**
**£**
**63,084**
**7,396**
**30,000**
**8**
**100,488**
**107,214**
**107,214**
**(6,726)**
**10,375**
**(6,726)**
**3,649**|_Total_
_funds_
_2022_
_£_
_130,062_
_4,911_
_31,199_
_24_| |---|---|---|---|---| |||||_166,196_| |||||_214,333_| |||||_214,333_| |||||_(48,137)_| |||||_58,512_
_(48,137)_| |||||_10,375_| The Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 8 to 18 form part of these financial statements. Page 6 Docusign Envelope ID: 728AFAC0-50C6-42D1-BDCD-69772C75E419 ## THE NATIONAL STUDENT DRAMA FESTIVAL LTD (A company limited by guarantee) REGISTERED NUMBER: 03103602 ## BALANCE SHEET AS AT 30 SEPTEMBER 2023 |**Note**
**Fixed assets**
Tangible assets
10
**Current assets**
Debtors
11
Cash at bank and in hand
Creditors: amounts falling due within one year
12
**Net current assets**
**Total assets less current liabilities**
**Total net assets**
**Charity funds**
Restricted funds
13
Unrestricted funds
13
**Total funds**|**103**
**16,811**
**16,914**
**(14,392)**|**2023**
**£**
**1,127**
**1,127**
**2,522**
**3,649**
**3,649**
**2,028**
**1,621**
**3,649**|_3,664_
_14,158_
_17,822_
_(9,029)_|_2022_
_£_
_1,582_| |---|---|---|---|---| |||||_1,582_
_8,793_| |||||_10,375_| |||||| |||||_10,375_| |||||_2,028_
_8,347_| |||||| |||||_10,375_| The Company was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: ................................................ **Emma Kendall** Trustee & Chair Date: 27-Sep-2024 The notes on pages 8 to 18 form part of these financial statements. Page 7 Docusign Envelope ID: 728AFAC0-50C6-42D1-BDCD-69772C75E419 ## THE NATIONAL STUDENT DRAMA FESTIVAL LTD (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 ## **1. Accounting policies** ## **1.1 Basis of preparation of financial statements** The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The National Student Drama Festival Ltd 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. ## **1.2 Company status** The National Student Drama Festival Limited is a private company limited by guarantee. The members of the company are the Directors/Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company. ## **1.3 Income** All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. ## **Donations and legacies** Grants, legacies and donations are recognised in incoming resources in the year in which they are receivable, except as follows: - When donors specify that grants/donations given to the charity must be used in future accounting periods, the income is deferred until those periods. - When donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred and not included in incoming resources until the preconditions for use are met ## **Charitable activities** Theatre income is included in incoming resources in the period in which the relevant activity takes place. Project specific funding - when donors specify that donations and grants are for particular restriced purposes, which do not amount to pre-conditions regarding entitlement, this income is included in incoming resources of restricted funds when receivable. ## **Donated services and facitlities** Donated services or facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. On receipt, donated services and facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market, a corresponding amount is then recognised in expenditure in the period of receipt. ## **Investment income** Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. Page 8 Docusign Envelope ID: 728AFAC0-50C6-42D1-BDCD-69772C75E419 ## THE NATIONAL STUDENT DRAMA FESTIVAL LTD (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 ## **1. Accounting policies (continued)** ## **1.4 Expenditure** All expenditure is included on an accruals basis inclusive of any VAT which cannot be recovered and is recognised when: - there is a legal or constructive obligation to make a payment - it is probable that settlement will be required - the amount of the obligation can be measured reliably Costs of raising funds Costs incurred in attracting donations, and those incurred in trading activities that raise funds. Charitable activities Production costs - costs incurred in the production and running of productions toured in the year. Support costs The administrative and overhead costs associated with running the office from which the company operates as well as governance costs. Support are wholly attributable to theatre production costs. Governance costs Costs associated with the constitutional and statutory requirements of the charity. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. ## **1.5 Going concern** The charity has successfully navigated the global challenges of the past few years with a combination of innovation, experience, and the support of the Board. Fundraising remains a risk, but with the financial expertise of our current exec team and Board combined, the charity is rigorously maintaining its reserves, while nurturing long-term sustainable growth through diversifying income streams. The year ahead has been strategically planned, with the specific aim of growing our reserves while maintaining our artistic impact; the Trustees are therefore confident that the charity will be able to see through the current global economic climate, as it saw through the pandemic. The Trustees will continue to oversee and monitor where appropriate. Despite the uncertainties that exist, the Trustees believe these actions should enable the charity to continue in operational existence. Therefore, it is the Trustees opinion that the going concern basis of preparation of the accounts continues to be appropriate. ## **1.6 Turnover** Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts. ## **1.7 Tangible fixed assets and depreciation** Tangible fixed assets costing £1,000 or more are capitalised. A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities incorporating income and expenditure account. Page 9 Docusign Envelope ID: 728AFAC0-50C6-42D1-BDCD-69772C75E419 ## THE NATIONAL STUDENT DRAMA FESTIVAL LTD (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 ## **1. Accounting policies (continued)** ## **1.7 Tangible fixed assets and depreciation (continued)** Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, . Depreciation is provided on the following bases: - Fixtures and fittings 25% straight line - Production equipment 10% straight line ## **1.8 Liabilities and provisions** Liabilities 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. Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost. ## **1.9 Financial instruments** The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. ## **1.10 Pensions** The Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Company to the fund in respect of the year. ## **1.11 Fund accounting** General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Page 10 Docusign Envelope ID: 728AFAC0-50C6-42D1-BDCD-69772C75E419 ## THE NATIONAL STUDENT DRAMA FESTIVAL LTD (A company limited by guarantee) ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 ## **2. Income from donations and legacies** |**Donations**
Donations
**Grants**
Theatre Development Trust
Andrew Lloyd Webber Foundation
D'Oyly Carte CT
ACE Grants
Ashely Family Foundation
Noel Coward Foundation
Idlewild Trust
Boshier Hilton
RTST
Martin Bowley Charitable Trust
**Total donations and grants**
**Total 2023**
_Total 2022_|**Restricted**
**funds**
**2023**
**£**
6,864
-
-
-
-
-
-
-
-
-
-
6,864
6,864
_76,735_|**Unrestricted**
**funds**
**2023**
**£**
532
-
-
-
57,584
-
-
-
-
-
5,500
63,616
63,616
_58,238_|**Total**
**funds**
**2023**
**£**
**7,396**
**-**
**-**
**-**
**57,584**
**-**
**-**
**-**
**-**
**-**
**5,500**
**70,480**
**70,480**
_134,973_|_Total_
_funds_
_2022_
_£_
_4,911_
_25,000_
_5,000_
_4,000_
_75,812_
_5,000_
_3,000_
_2,500_
_2,000_
_1,250_
_6,500_| |---|---|---|---|---| |||||_134,973_| |||||| |||||_134,973_| |||||| ## **3. Income from charitable activites** **Income from non charitable trading activities** |Sponsorship - News International
Other Sponsorships
_Total 2022_|**Unrestricted**
**funds**
**2023**
**£**
30,000
-
30,000
_31,199_|**Total**
**funds**
**2023**
**£**
**30,000**
**-**
**30,000**
_31,199_|_Total_
_funds_
_2022_
_£_
_30,000_
_1,199_| |---|---|---|---| ||||_31,199_| ||||| Page 11 Docusign Envelope ID: 728AFAC0-50C6-42D1-BDCD-69772C75E419 ## THE NATIONAL STUDENT DRAMA FESTIVAL LTD (A company limited by guarantee) ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 ## **4. Investment income** |Investment income - interest
_Total 2022_|**Unrestricted**
**funds**
**2023**
**£**
8
8
_24_|**Total**
**funds**
**2023**
**£**
**8**
**8**
_24_|_Total_
_funds_
_2022_
_£_
_24_| |---|---|---|---| ||||_24_| ||||| ## **5. Analysis of expenditure by activities** |Festival and support costs
Other Non-Festival Costs
_Total 2022_|**Activities**
**undertaken**
**directly**
**2023**
**£**
41,967
15,402
57,369
_149,582_|**Support**
**costs**
**2023**
**£**
49,845
-
49,845
_64,751_|**Total**
**funds**
**2023**
**£**
**91,812**
**15,402**
**107,214**
_214,333_|_Total_
_funds_
_2022_
_£_
_206,212_
_8,121_| |---|---|---|---|---| |||||_214,333_| |||||| ## **Analysis of direct costs** |Depreciation
Festival expenses
Other Non-Festival Costs
**Total 2023**|**Total**
**funds**
**2023**
**£**
**455**
**41,512**
**15,402**
**57,369**|_Total_
_funds_
_2022_
_£_
_955_
_140,506_
_8,121_| |---|---|---| |||_149,582_| Page 12 Docusign Envelope ID: 728AFAC0-50C6-42D1-BDCD-69772C75E419 ## THE NATIONAL STUDENT DRAMA FESTIVAL LTD (A company limited by guarantee) ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 ## **5. Analysis of expenditure by activities (continued)** ## **Analysis of support costs** |Staff costs
Director's Fees and expenses
Staff recruitment
Printing, postage and stationery
Professional and other fees
Bank charges
Board costs
Independent examination
IT support and website management
_Total 2022_
**6.**
**Analysis of festival costs**
Creative / other fees
Venue hire / security
Creative travel / subsistence / accomodation
Publicity / promotion
Insurances
Other costs, including access|**Activities**
**2023**
**£**
29,650
14,784
-
75
70
108
-
2,550
2,608
49,845
_64,751_|**Total**
**funds**
**2023**
**£**
**29,650**
**14,784**
**-**
**75**
**70**
**108**
**-**
**2,550**
**2,608**
**49,845**
_64,751_
**2023**
**£**
**11,297**
**810**
**3,848**
**8,420**
**414**
**28,300**
**53,089**|_Total_
_funds_
_2022_
_£_
_44,607_
_11,708_
_660_
_199_
_943_
_163_
_307_
_3,250_
_2,914_| |---|---|---|---| ||||_64,751_| ||||_2022_
_£_
_40,071_
_14,394_
_43,612_
_4,981_
_2,507_
_34,941_| ||||_140,506_| Page 13 Docusign Envelope ID: 728AFAC0-50C6-42D1-BDCD-69772C75E419 ## THE NATIONAL STUDENT DRAMA FESTIVAL LTD (A company limited by guarantee) ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 ## **7. Independent examiner's remuneration** ||**2023**|_2022_| |---|---|---| ||**£**|_£_| |Fees payable to the Company's independent examiner for the independent||| |examination of the Company's annual accounts|**1,815**|_1,650_| |Fees payable to the Company's independent examiner in respect of:||| |Accountancy services|**2,035**|_1,600_| ## **8. Staff costs** |Wages and salaries
Contribution to defined contribution pension schemes|**2023**
**£**
**29,150**
**500**
**29,650**|_2022_
_£_
_43,717_
_890_| |---|---|---| |||| |||_44,607_| The average number of persons employed by the Company during the year was as follows: ||**2023**|_2022_| |---|---|---| ||**No.**|_No._| |Employees|**2**|_3_| No employee received remuneration amounting to more than £60,000 in either year. The remuneration of key management personnel was £29,150 (2022: £20,383). ## **9. Trustees' remuneration and expenses** During the year, no Trustees received any rumuneration or other benefits (2022 - 1 trustee received remuneration of £1,000). During the year ended 30 September 2023, no Trustee expenses have been incurred _(2022 - £NIL)_ . Page 14 Docusign Envelope ID: 728AFAC0-50C6-42D1-BDCD-69772C75E419 ## THE NATIONAL STUDENT DRAMA FESTIVAL LTD (A company limited by guarantee) ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 ## **10. Tangible fixed assets** |**Cost or valuation**
At 1 October 2022
At 30 September 2023
**Depreciation**
At 1 October 2022
Charge for the year
At 30 September 2023
**Net book value**
At 30 September 2023
_At 30 September 2022_
**11.**
**Debtors**
**Due within one year**
Other debtors
Prepayments and accrued income
**12.**
**Creditors: Amounts falling due within one year**
Other taxation and social security
Accruals and deferred income|**Fixtures and**
**fittings**
**£**
**6,263**
**6,263**
**6,206**
**19**
**6,225**
**38**
_57_|**Office**
**equipment**
**£**
**4,355**
**4,355**
**2,830**
**436**
**3,266**
**1,089**
_1,525_
**2023**
**£**
**-**
**103**
**103**
**2023**
**£**
**5,875**
**8,517**
**14,392**|**Total**
**£**
**10,618**| |---|---|---|---| ||||**10,618**| ||||**9,036**
**455**| ||||**9,491**| ||||**1,127**| ||||_1,582_| ||||_2022_
_£_
_2,664_
_1,000_| ||||_3,664_
_2022_
_£_
_1,992_
_7,037_| ||||_9,029_| Page 15 Docusign Envelope ID: 728AFAC0-50C6-42D1-BDCD-69772C75E419 ## THE NATIONAL STUDENT DRAMA FESTIVAL LTD (A company limited by guarantee) ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 ## **13. Statement of funds** ## **Statement of funds - current year** |**Unrestricted funds**
General Funds - all funds
**Restricted funds**
Bursaries
Other restricted funds
**Total of funds**|**Balance at 1**
**October 2022**
**£**
**8,347**
**2,028**
**-**
**2,028**
**10,375**|**Income**
**£**
**93,624**
**-**
**6,864**
**6,864**
**100,488**|**Expenditure**
**£**
**(100,350)**
**-**
**(6,864)**
**(6,864)**
**(107,214)**|**Balance at 30**
**September**
**2023**
**£**
**1,621**| |---|---|---|---|---| |||||**2,028**
**-**| |||||**2,028**| |||||**3,649**| Bursaries Received to finance bursaries and contribute towards travel and living expenses. Page 16 Docusign Envelope ID: 728AFAC0-50C6-42D1-BDCD-69772C75E419 ## THE NATIONAL STUDENT DRAMA FESTIVAL LTD (A company limited by guarantee) ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 ## **13. Statement of funds (continued)** **Statement of funds - prior year** |**Unrestricted funds**
General Funds - all funds
**Restricted funds**
Bursaries
Other restricted funds
**Total of funds**
**Summary of funds**
**Summary of funds - current year**
General funds
Restricted funds
**Summary of funds - prior year**
General funds
Restricted funds|_Balance at_
_1 October_
_2021_
_£_
_56,484_
_2,028_
_-_
_2,028_
_58,512_
**Balance at 1**
**October 2022**
**£**
**8,347**
**2,028**
**10,375**
_Balance at_
_1 October_
_2021_
_£_
_56,484_
_2,028_
_58,512_|_Income_
_£_
_89,461_
_-_
_76,735_
_76,735_
_166,196_
**Income**
**£**
**93,624**
**6,864**
**100,488**
_Income_
_£_
_89,461_
_76,735_
_166,196_|_Expenditure_
_£_
_(137,598)_
_-_
_(76,735)_
_(76,735)_
_(214,333)_
**Expenditure**
**£**
**(100,350)**
**(6,864)**
**(107,214)**
_Expenditure_
_£_
_(137,598)_
_(76,735)_
_(214,333)_|_Balance at_
_30 September_
_2022_
_£_
_8,347_| |---|---|---|---|---| |||||_2,028_
_-_| |||||_2,028_| |||||_10,375_| |||||**Balance at 30**
**September**
**2023**
**£**
**1,621**
**2,028**| |||||**3,649**| |||||_Balance at_
_30 September_
_2022_
_£_
_8,347_
_2,028_| |||||_10,375_| ## **14. Summary of funds Summary of funds - current year** Page 17 Docusign Envelope ID: 728AFAC0-50C6-42D1-BDCD-69772C75E419 ## THE NATIONAL STUDENT DRAMA FESTIVAL LTD (A company limited by guarantee) ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 ## **15. Analysis of net assets between funds** ## **Analysis of net assets between funds - current year** |Tangible fixed assets
Current assets
Creditors due within one year
**Total**|**Restricted**
**funds**
**2023**
**£**
-
2,028
-
2,028|**Unrestricted**
**funds**
**2023**
**£**
1,127
14,886
(14,392)
1,621|**Total**
**funds**
**2023**
**£**
**1,127**
**16,914**
**(14,392)**| |---|---|---|---| ||||**3,649**| ## **Analysis of net assets between funds - prior year** |Tangible fixed assets
Current assets
Creditors due within one year
**Total**|_Restricted_
_funds_
_2022_
_£_
_-_
_2,028_
_-_
_2,028_|_Unrestricted_
_funds_
_2022_
_£_
_1,582_
_15,794_
_(9,029)_
_8,347_|_Total_
_funds_
_2022_
_£_
_1,582_
_17,822_
_(9,029)_| |---|---|---|---| ||||_10,375_| ## **16. Related party transactions** During the year the company had no related transactions that required disclosure. Page 18