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← The Bold And Saucy Theatre Company Limited

2024-09-30-accounts

Charity Registration No. 1057483

Company Registration No. 03219347 (England and Wales)

THE BOLD AND SAUCY THEATRE COMPANY LTD

ANNUAL REPORT AND UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Ms A Brennan

(during the period or at date of Ms H Bunch

approval) Dr A Poole

Charity number 1057483

Company number 3219347

Principal address 9 Havelock Walk London SE23 3HG

Registered office 9 Havelock Walk London SE23 3HG

Independent examiner Jon Harris, ACMA, CGMA Suite LP61812 20 Wenlock Road London N1 7GU

Bankers

HSBC UK 1 Centenary Square Birmingham B1 1HQ

CONTENTS

Page
Trustees' report 1
Independent examiner's report 2
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 8

TRUSTEES' REPORT (INCLUDING

DIRECTORS' REPORT) FOR THE PERIOD ENDED 30 September 2024

The Trustees present their report and financial statements for the financial period ended 30 September 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 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) (effective 1 January 2019)".

Objectives and activities

The charity's objects are specifically restricted to the following:

To advance public education in and appreciation of the arts.

The Trustees note a year in the furtherance of the Objectives.

The company, with the ongoing support of the Trustees and Associates, is committed to continuing the legacy that Sarah Davey-Hull created and many of the notable achievements involve the success of Bold Elephant, the arts centre in Elephant and Castle opened by Sarah in 2020.

The Company successfully continued new writing and performing initiatives with Bold Playwrights and Bold Makers, adding some regular stand-up comedy events and producing the critically acclaimed The Foreigners Panto throughout the year. The building continues to produce a reliable income stream from hires to other theatre companies and educational institutions and this funds the various artistic endeavours.

The Company continues to work with the owner of the building and have managed to extend occupation for a further year. The FH Space in Forest Hill has been renamed The SDH Space and continues to provide an artistic building in South East London with a loyal local following.

Statement of Trustees' responsibilities

The Trustees, who are also the directors of the charity for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

1

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Structure, governance and management

Accounting is managed by consultants and all financial documents are produced in accordance with applicable law and United Kingdom Accounting Standards.

Financial review

a. Statement of Risk: The Trustees validate that all contracts, expenditures, financial plans, and business models used by the Charity are of sound financial sense and do not contravene any Health and Safety or vulnerable individuals’ statues or common practice.

b. Reserves will be held at the conclusion of every project to cover production costs on the next project. Where there is a shortfall, overdraft, loans, etc will only be sought where the Trustees have guaranteed that the business model for the relevant year will cover any and all repayments.

.

2

Public benefii ststement Dijring the yeai we fulfilled our objectives,. to loster and promote the mainlenaKe. impr￿eMen[and de￿0pment ot artistic tastes and knowledge of the understandin8. practice and aPPfe(iati)n of the arts. The Trustees •re satisfled that the company contlnued lo ser¥e these goals lo thieve public beThefit durin8 ths peri(Kl. in line with guidance from ihe Charlty Commission. Oblettlves and Actlvltles The Trustees have made a lull report to the Chailtycommlssion about objectives and activllies. The Trustees have approved this report. Dr A Poole Trustee 25 June 2025

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BOLD AND SAUCY THEATRE COMPANY LIMITED

I report to the Trustees on my examination of the financial statements of the company for the year ended 30 September 2024.

Responsibilities and basis of report

As the Trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity 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 charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I confirm that I am qualified to undertake the examination because I am a member of CIMA, which is one of the listed bodies.

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

  1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements 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 financial statements 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 financial statements to be reached.

==> picture [185 x 89] intentionally omitted <==

Jon Harris, ACMA, CGMA, MA (Cantab.), FRSA

Suite LP61812

20 Wenlock Road, London N1 7GU

Dated: 25 June 2025

4

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE PERIOD ENDED 30 September 2024

Unrestricted
Restricted		 **Total ** Unrestricted Restricted Total
funds funds funds funds
2024 2024 2024 2023 2023 2023
Notes £ £ £
Income and endowments from:
Donations and legacies 0 0 0 0 0 0
Charitable activities 120,988 0 120,988 57,086 0 57,086
Other trading activities 0 0 0 0 0 0
Investments 0 0 0 0 0 0
Other income 2,660 0 2,660 14,129 0 14,129
Total income 123,648 0 123,648 71,215 0 71,215
Expenditure on:
Charitable activities 3 140,769 0 140,769 125,864 0 125,864
Net income/(expenditure)
for the year/
Net movement in funds -17,121 0 -17,121 -54,649 0 -54,649
Fund balances at
30 Sept 2023 (30/09/2022) 91,710 0 91,710 146,359 0 146,359
Fund balances at
30 September 2024 74,589 0 74,589 91,710 0 91,710

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

5

BALANCE SHEET as at 30 September 2024

Notes
Fixed assets
Tangible assets
Current assets
Debtors
6
Cash at bank and in hand
Creditors: amounts falling due within
one year
7
Net current assets/(liabilities)
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
Net assets/(liabilities)
Income funds
Unrestricted funds
Restricted funds		 2024
2023
£
£
£
£
0
0
16,789
14,129
58,508
78,288
75,297
92,417
-708
-707
74,589
91,710
74,589
91,710
0
0
74,589
91,710
74,589
91,710
0
0
74,589
91,710		 2024
2023
£
£
£
£
0
0
16,789
14,129
58,508
78,288
75,297
92,417
-708
-707
74,589
91,710
74,589
91,710
0
0
74,589
91,710
74,589
91,710
0
0
74,589
91,710
91,710
0
91,710
91,710
0
91,710

6

BAiANCE SHEET (CONTINUED) AS AT 30 September 2024 The company is entitled to the exemptlon from the audit requirement conlained In 5ealon 477 of the Companie5 Act 2006. for the year ended 30 September 2024. The dtrectors acknowledge their responsibilktles ftsT ensuring that the charity keeps attounting records which comply with section 386 of the Act and for preparing financial slalements which give a true and fail view of the state of affairs ol the company as at ihe end ol thp financial year and of its incoming resources and application of resources. including its income and e¥penditure. lor the financial year in acaYd•nce with the requiremen15 of sections 394 and 395 and which otherwise comply with the requiremenis of thè CompaniesAct 2OX> relating to financial #atemenis. so far as appllcable to the company. The members have nol required the tompany to obtain an audit of its financial statemeTrts forthe year In questlon In attordan¢e wlth section 476. These flnandal statements have been prepa￿d In ateordance with the pro¥isions applicable to companies sublecl lo the small companles reglme. The flnanclal statements were approved by the Trustees on 25 June 2025. Dr A Poole TTUSt•• Comp•ny A•tsr•don No. 03219347

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 September 2024

1 Accounting policies

Charity information

The Bold and Saucy Theatre Company Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is at 9, Havelock Walk, London SE23 3HG.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 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) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling , which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

1.3 Incoming resources

Donations, legacies, grants etc. are accounted for when due to the charity, where applicable, with their associated tax recoverable element.

Production income is credited to the statement of financial activities for the period in which the related production takes place. Fees received in advance of future produtions are deferred. All other income is recognised when it is receivable.

No income is recorded net of expenses except where these are beyond the control or knowledge of the trustees.

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

8

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED

30 September 2024

(Continued)

1 Accounting policies

1.4 Resources expended

Resources expended are recognised in the period in which they are incurred except that production expenses are recognised in the period in which the production takes place.

Governance costs are those necessary for the charity to meet constitutional and statutory requirements and include any costs associated with the strategic management of the charity's activities.

1.5 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Furniture and office equipment 20% reducing balance Motor vehicles 20% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

1.6 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7 Taxation

The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

9

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 September 2024

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Charitable activities

3 Charitable activities
2024 2023
£ £
Activity costs 133,493 122,429
133,493 122,429
Share of support costs (see note 4) 6,318 2,477
Share of governance costs (see note 4) 958 958
7,276 3,435
Analysis by fund
Unrestricted funds 140,769 125,864
Restricted funds 0 0
140,769 125,864
4 Support costs
Support Governance 2024 **2023 ** Basis of
costs costs allocation
£ £ £
Sundry costs, travel, bank 6,318 6,318 2,477 Support
Accountancy 0 359 359 359
Independent examination 0 599 599 599 Governance
Analysed between
Charitable activities 6,318 958 7,276 644

Governance costs include payments to the Independent Examiner of £599 including irrecoverable VAT (2023: £599)

10

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 September 2024

5 Trustees

Trustees remuneration for the year was 0. (2023: 0 )

Trustees remuneration may comprise fees paid to Trustees, where they provide professional services to the Charity. No Trustee was paid to act as a Trustee.

6 Debtors

HMRC
Trade debtors
in one year
Notes
Trade creditors and accruals		 2024
2023
£
£
16789
14,129
0
0
16,789
14,129
2024
2023
£
£
708
707
708
707

7 Creditors: amounts falling due within one year

8 Employees

The average monthly number of employees was 0 (2023:0).

9 Limited by guarantee

The charitable company is constituted as a company limited by guarantee. In the event of winding up the liability of the guarantors is limited to £1 each.

11