PEISPEryIrfES NEW PERSPECTIVES THEATRE COMPANY (A Gompany limited by guarantee) REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 COMPANY NO: 3240198 CHARITY NO: 1058309
NEW PERSPECTIVES THEATRE COMPANY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The Trustees are pleased to present their Annual Report together wth the financial statements of the charity for the year ended 31 March 2024 which are also prepared to meet the requirements for Trustees Report and accounts for Companies Act purposes. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, Accounts and Reporting by Charities: Statement of Re¢o.mmended PraGtice applicable to charities preparing their accounts in accordance with the--. Financial Reporting Standard in the UK and Republic of Ireland (FRS102). Chair's Statement This year I was delighted to see plans set out as part of our new funding agreement with Arts Council England come into fruition as we entered the company's 50¢h anniversary year. This is a tremendous milestone, and the company archive, held as a special collection at the University of Nottingham, has provided a great source of infomiation and context to how the leadership, governance and the external environment has influenced development of the organisation across the 50 years. l am proud of the team and their ability to see beyond the obvious financial challenges, the impact of increases in material costs and the cost-of-living crtsis, in their approach to developing new work and supporting emerging artists. Highlights of the year include: Our commitment to excellen and diversity which was clearfy demonstrated through our touring productions We Need New Names and Model Village- from the stories we tell, the creatives we work with to imagine and present them, the range of plaS we tour to and the conversats'ons we spark. How the team have collectively embedded engagement into the work, whether that be demystifying the artistic process through Q&A's running alongside performanos of We Need New Names or handing the creative decision over to the audiences in Model Village, where the end of the piece was put to a vote in each village hatl and then the collective singing of an anthem. The relationshlps we developed by championing emerging and citizen artists through our New Associates and Open Pitch programmes and developing both venue and creative partnerships which are vital to our future growth l am delighted that New Perspectives has been selected in first round of organisations announced to join the Ramps on the Moon Change Partner programme. This will help us to embed anti-ablism in the heart of what we do. l also endorse the company's pledge to meet the Theatre Green Book BASIC and look fOard to leaming how this infoms developing a roadmap to net zero. I should like to take this opportunity to thank both the Executives and the stsff team as well as my fellow Trustees for their hard work, commitment, advocacy and supporL As a result, New Perspectives enters its sixth decade as an innovative force across the region with much to shout aboutl Sarah Hall (Chair)
NEW PERSPECTIVES THEATRE COMPANY REPORT OF THE TRUSTEES Objectlves & Activitles New Perspectives is a Nottingham based theatre company touring relevant ambib'ous productions across the UK championing underrepresented Vol$. Through our development programmes including New Associates and Open Pitch, we nurture existing and uneath new talent .Our.ovei-arching aim.is.to open.up.creative thought processes, so newperspectives caff ert)e"rg"e' through the stories we showcase and the audiences who watch and talk about them. We are groundbreaking In the depth we offer to programmes and to the stories we showcase. Our work is ntred around three core values: Ambitious.. We are ambitious in our storytelling, in our production values, in our creativity, in our mission and in our expectations. Relevant: We ensure that the stories we tell are relevant to audiences, that our development programmes are representative of relevant social and cultural issues. that our work systems and processes are relevant and current and that we embrace access to and innovation within storytelling Transformative: That the stories we tell, the experiences we create, the way we interact with one another, are transformative encounters. We strive to diversify income sources to remain resilient and a3ile and demonstrate robust governan and efficient use of resources. New Perspectives began in 1973 with a clear objective: to bring an urgent story to a new audience. Building on our solid foundations, we ensure that all of the audiences and artists we encounter are exposed to a regional company which demonstrates: Greater diverslty: advocating for diversity and intemationalism in the touring sector through our programming choices are well as through the artists we work with and the audiences we reach Deeper engagement.. offering longer tem support and developing networks for emerging and mid- career talent in our region to have greater impact on their career trajectories Increased resilience.. expanding our base of donors and partners through increased fundraising activity and long-tem artisti¢ planning
NEW PERSPECTIVES THEATRE COMPANY REPORT OF THE TRUSTEES Mlssion New Perspectlves is the leading touring theatre company in the East Midlands, known for its ambitious productions and impactfijl storytelling. We create new plays that resonate with diverse aUdIenS in both rural and urban settings and through New Associates and Open Pitch we actively support emerging arknsts throughout the region. Our mission is,to. enrich.the. cultural landscape by amplifying unheard vol5 and diverse perspectiveg." We alm to create meaningful connections that inspire dialogue and ensure theatre remains accessible and relevant to all. Publlc Benefit We have a strong commitment to the East Midlands region within Nottinghamshire, Derbyshire, Lincolnshire, Northamptonshire, Leicestershire and Rutland. This is characterised by a diverse landscape, economy and population, including large conurbations and rural areas. Removing barriers of location, age, culture and socio-economic ststus fuels our ambition to bring audiences into close contact with the highest quality of new work. We develop new plays. new audiences and new arttsts across the East Midlands and beyond. We make a distinct cultural footprint as rural champion advocating for equal aCS to theatre and as a vital contributor to the wider national theatre ecology. Creating a diverse brand of live theatre that is recognised as challenging, original and unalraid to take bold creative risks Empowering artists and theatre-makers across the region with knowledge, skills and increasing neorkS through the development of small-scale and rural touring theatre Engaging regional audiences by widening access to high quality live performance regardless of age. social class, ethnicity, gender, disability or geographic location We maintain the highest levels of artistry and production values in all our work, and deliver a programrne of wider cultural Significan and therefore able to advan the arts through regular critical analysis of the work we create. Our productions are a testament to the fact that rural theatre is as relevant, challenging and dynamic as theatre made for any other environment. The Trustees have complied with their duties under Section 17(5) of the 2011 Charities Act.
NEW PERSPECTIVES THEATRE COMPANY REPORT OF THE TRUSTEES Achievemènt and Perfomiance We began the year scoping activities to mark New Perspectives, 501h anniversary year (October 2023 - 2024). Kicking off with Model Village a commission for an autumn rural tour. This presented an opportunity to re-connect with people key to the New Perspecttves journey, collecting memories from audience members and colleagues and creating a NP50 podcast series, in conversats'on with key .figures involved in shaping and stewarding the company from 1973.. Our first co-production with new writing company Fifth Word enabled us to continue conversations with studio theatre programmers and make new connections. The continued increase in Theatre Tax Relief rates by the Chancellor continues to help us and partners to invest in productions, in the midst of rising costs. In 2023-24 we provided full or part-time employment to: a core staff team of 7 people, Assistant Director paid placements and 41 freelance creatives across the year. We successfully completed our first of three years National Portfolio Funding from Arts Council England. and a natural synergy is evident beeen our work and the Le¥s Create strategy. Touring Theatre We began the year joining forces with new vrfriting company Fifth Word to co-produce the UK stage premiere of Noviolet Bulawayo's defiant coming-of-age story We Need New Names. Based on the novel by the first Black African woman and first Zimbabwean to be Booker Prize-shortlisted, adapted for the stage by Mufaro Makubika, a Nottingham based Zimbabwean bom playwright and directed by Monique Touko, 2022 Stage Debut Award for Best Director, with a cast of 6 actors with East African heritage. The production, in association with Brixton House, embarked on 2 7-week UK tour opening in Brixton with perf0mlanS in Bristol, Derby Manchester. Oxford, Peterborough, Newcastte, Nottlngham and Sheffleld. he &'gnificance of this play will remain immeasurdble. The Stage 'Playful staging...smart dramatisatiorf, The Guardian he kind of story that should be told acmss all of our theatres. All That Dazzles WE NEED NEW NAMES Based on the book by Noviolet Bulawayo Adapted for the stage by Mufaro Makubika Dlrected by Monique Touko Set and Costume Design by Ingrid Hu Lighting Design by Adam King Original Compositions by Tendai Humphrey Sitima Sound Design by Edward Lewis Choreography by Ricardo da Silva Assistant Director Jordi M. Carter Creative Associates: Nic Wass, Anna Himali Howard and Zodwa Nyoni Casting by Lucy Jenkins CDG and Sooki Mcshane CDG Stage Manager Alyssa Watts Production Manager Alison Willcox Cast.. Munashe Chirisa, Anashe Danai. Princess Khumalo, Tatenda Mademombe. Lulwesa Mwamba, Kalungi Ssebandeke
NEW PERSPECTIVES THEATRE COMPANY REPORT OF THE TRUSTEES- Continued We followed in Autumn 2023 with a new commission by Anlta Sullivan to mark the start of the companies 50th anniversary year. Featuring a 3-strong cast of actors each with a Midlands connection this also gave the opportunity to provide a paid Assistant Director opportunity to a regional artist. This playful 2nd subversive new sats're, specifically created for rural touring. invited audiences into a fictional village and it's failing miniature Model Village and as the drama played out they became townsfolk. joining in singing the village anthem and voting on one of endings of the play. Audience members were encouraged to join online singing sessions in advance and the production toured.to community. spaces in Nottinghamshire, Derbyshire, LeIsterShire, Lincolnshire, Northamptonshire, Rutland, West Midlands and Dorset,. including levelling up places Clipstone, Grimsby and Warsop. "Compounding entertainment and food for thought. Model Village embodies its message about the small Garying powe¢, The Independent °A gem of a plaf LeftLion MODEL VILLAGE by Anita Sullivan Directed by Angharad Jones Set and Costume Design by Gemma Caseley-Kirk Lighting Design by Alexandra Stafford Composer Nick Underwood Sound Design by Adam P Mccready Movement Consultant Tina Carter Assistant Director & composer of This is OurHouse Martha Kent Podcast extracts recorded by Joanna Lumley Train announcement recorded by Mark Radcliffe Stage Manager Miles Cruden Smith Production Manager Alison Willcox Cast.. Duane Hannibal, Abigail Pidgeon. Lee Rufft)rd Digltal Broadcast Where l Belong joined previous audio works PlaGePrints and the audio book Voice of the Fire as an exciting 12-part podcast series. Thts collection of short prnS and stories from twelve writers living in Baghdad and Nottingham, offers a unique window into the lives of those in two distinct UNESCO Cities of Literature, featuring original writs'ng from emerging and established artists, with an emphasis on under-represented voices. Each episode was developed through online conversations which began in 2023, pairing 6 writers In Nottingham with 6 writers in Baghdad, to reflect and explore themes that connect their pieces resulting. in a series of duets focussed on place. The podcast was launched in August 2023. WHERE I BELONG {12-part podcast series) Sound Design by Adam P Mccready Cover Design by Ruth Disney Produced by Sally Anne Tye Writers: Budoor Al Abid, Mubeen Khishany, Sadek R. Mohammed. Ali Muhammed, Sijal Al-Rekabi Mina Ali Shareef (Baghdad),. Andy Barrett, Mufaro Makubika, Leanne Moden, Michael Pinchbeck, Cara Thompson, Georgina Wlding (Nottingham) Supported by the British Council Arts Digital Collaboration Fund
NEW PERSPECTIVES THEATRE COMPANY REPORT OF THE TRUSTEES- Continued Creative Residencles We invested in the development two productions in partnership wth Nottingham based companies, including a package of in-kind dramaturgical, directorial and marketing support. Both productions were selected to help infomi and expand our future practices and to increase the profile of our work. House of Life - a gig theatre performance by Sheep Soup, Edinburgh Fringe Festival run August 2023 Outlawed- a Burlesque, Drag, Festive Comedy Cabaret developed with Nonsuch with a run of live performances in Nottingham in December 2023 Artist and Community Development Throughout the year we nurtured and supported 21 early career artists from across the East Midlands region through our flagship talent development programme New Associates. We supported each artist on their next crucial step opening up our neorkS through a bespoke package of mentoring, funding advice, aCsS to rehearsals, stafflboard expertise. By investing in the development of future leaders across the East Midlands we continue to redress the inequality, signposting pathways and contributing to a more open, diverse and vibrant industy. ..invaluable to me as an artist- a wonderful supportive envimnment. The team at New Perspectives offer expert advice, care and opportunities to grow as a practitionerf Claire Finn °the prOgmMe has given me to confidence to take the next steps in my careeras a Theatre Makerf Evie Osbon From the opportunities and masterclasses. to being part of a group that has a sharedpurposg to the physical and emotional support that NP provide. being a New Associate has been pivotal in my growth as an artist."Adam Iqbal NEW ASSOCIATES 2023-24 Ellie Owen-Austen, Imogen Beech, Mary Bonam, Dylan Bull. Elan Butler, Natalie Chan, Claire Finn, AK Golding, Adam Iqbal, Ben Gilbert, Saraa Kolawole, Jordan Laidley, Andy Mandoiu, Anna Mansell, Ben Macpherson. Evie Osbon, Natalie Simone. Laura Turner ,Charfotte Vickers, Emily Webster, Josie White We continue to recognise that theatre is all around us and acknowledge that creativity is in everyone through our citizen artist programme Open Pitch. We supported the script development for a debut play written by Derbyshire resident Susie Brighouse. Participation Director Jayne Williams mentored the first draft of the play and a series of script development days over three months with five actors with the support of New Perspectives, Artistic Director Angharad Jones enabled Susie to complete first play script, Black Diamond Dancers. "Finishing my half-written play. of which I d been trying to do foryears, has renewed my confidence in my writing. Susie Brighouse Chrissy Payne was supported to develop her Memoirs of a Little 'Un based on her own memories of growing up in the 60s as the youngest of seven girls in Oakham, Rutland. Perfomier Tanya Myers and Sound Designer Adam P Mccready added their creative skills and expertise to bring the words on the page to life as a 10-part podcast series launched across a range of digital plafforms in June 2024. 'a rare and wonderful opportunity...the attention to detsil and support has allowed me the opportunity to reach a wortdwide audience which simply would not have been possible without this project" Chrissy Payne
NEW PERSPECTIVES THEATRE COMPANY REPORT OF THE TRUSTEES- Continued OPEN PITCH Susie Brighouse included employment to 5 female Actors Chrissie Payne included employment to 1 Actor and 1 Sound Designer STRUCTURE, GOVERNANCE & MANAGEMENT .Governing.Document New Perspectives Theatre Company Ltd is a company limited by guarantee, governed by its Memorandum and Articles of Association dated 14 August 1996. It is registered with the Charity Commission. A maximum of 12 Trustees each agree to contribute £1 in the event of the charity winding up. Appointment of Trustees New Perspectives regularly updates a register of Trustees, knowledgelskillslexperience, regularly monitoring and reviewing the governance of the company aligned to Arts Council England's Creative Case for Diversity. This provides a constantly evolving set of recruitment criteria which the Trustees use when attractinglselecting a suitable candidate for any vacancies. Potential Trustees are identified through individual recommendation by existing Trustees, via targeted solicitations, and in response to advertising campaigns. Trustee Induction & Training Each potential new Trustee is offered a chance to meet the Chair and observe a full Board meeting prior to taking a decision whether to become involved with the company- they are then matched with a range of induction resourceslopportunities to suit their existing level of knowledgelskillslexperience. these include provision of Memorandum & Articles of Association, most recent Audited Accounts, most recent management accounts, always supported by either a single meeting with the charity's Executive Team to discuss the company's current strategic oveniiew andlor full day meetinglshadowing a number of staff to gain a fuller overview of both strategic and operation issues affecting the charity. Organisatlon The Board of Trustees, which can have up to 12 TruStS, govern the charity. The Board meets 4 times per year, and there are working sub-groups which meet quarterly to address specific governance/operational issues including finance, fundraising, risk management and policy groups focussing specific areas including equal opportunities, health and safety, environmental etc. An Executive Team is appointed by the Trustees to manage the day-to-day operations of the charity. To facilitate effective operations the Artistic DirectorlCEO leads on the artistic programme and overall management, working closely with the Executive Director. Related Parties New Perspectives has a close working relationship with Arts Council England, who provide significant funding to the charity and who monitor our activity against agreed targets through a nurnber of mechanisms, including quarterly financial reporting, annual review and attendance at Board meetings aslwhen required by either paty. Risk Management New Perspective tasks a working group of Trustees and senior staff to conduct an annual risk review, and then develops an annual risk mitigation plan in response. Our current risk reviewlmitigation plan focuses on ensuring that we deliver against our Business Plan and remain in step with the strategic objectives of our funding partners.
NEW PERSPECTIVES THEATRE COMPANY REPORT OF THE TRUSTEES (continued) Financial Review During 2023124 New Perspectives monitored tts reporting mechanisms to allow effective Board scrutiny of financial management and further improve the clartyltransparency of the charity's financial dealings for funding partners. The Trustees report a net trading surplus of £532 in the year ended 31 March 2024. The Company had income during the year of £454,322. The Company's Revenue Unrestricted Fund balance is £568,207 as at 31 March 2024 of which £330,060 is designated (Designated Capital Fund £230,060 Special Projects Fund £100.000). The Trustees consider the balance to be adequate for the coming year. The principal funding source for the year were the monies from the Arts Council. The accumulated unrestricted income fund at 31 March 2024 amounted to £566,207. Investment Powers and Policy Under the Memorandum and Articles of Association we have the power to Invest any monies not immediately required for our purposes in any way the Trustees think fit. Aside from retaining a prudent amount in reserves each year, most of the charity's fvnds are to be spent in the short term, so there are few funds for long term investment. Reserves Policy Unrestricted reserves held amount to £566,207 much of which is represented by the freehold property. We aim to maintain the net value of the company. The Trustees have examined the charity's requirement for reserves in the light of the main risks to the organisation. It has established a policy whereby the unrestricted funds not cornrnitted or Invested in tangible fixed assets held by the charity should be between 1 and 3 months of the expenditure. The reserrfes are needed to meet the working capital requirements of the charity and the Trustees are confident that at this level they would be able to continue the current activttles of the charity in the event of a significant drop in funding. The Trustees have adopted the policy that in the event of the charity being wound up due to lack of funding unrestricted fvnds held and not committed should cover the current notice, redundancy pay liability and the equivalent of 3 months running costs (including salaries and related costs) estimated to total £100,OOO", currently general reserrfes held are sufFicient to cover these costs. The Trustees will aim to ensure the continuation of activities., in the event of a signfficant drop in income. It would be necessary to consider how the funding would be replaced or the activities changed.
NEW PERSPECTIVES THEATRE COMPANY REPORT OF THE TRUSTEES (continued) Going Concern The financial accounts are set out on pages 14 to 21. The Trustees are satisfied that with considerations made against business risks, the preparation of the financial statements, appropriate accounting FX)licies, methods and principles in place to provide sufficient appropriate evidence, that the company remains a going concem. The Trustees agree that the charity's assets are available and adequate to fulfil the continuation of activities. In the event of a significant drop in income it would be necessary to consider how the funding would be replaced or the activities changed. We look forward to joining the RAMPS Change Partner programme to embed embedding disability equality across all we do. We have made a pledge to meet the Theatre Green Book basic standard as part of the steps we are taking to reduce the impact we have on the environmenL Future Plans As we enter the second of our three-year public funding from Arts Council England through its national portfolio our hallmark programme continues.. commissioning and touring world class new writing driving cultural exchange, pioneertng talent development learning through creative innovation. An outline of our key productions in 202425 are: Make Good- The Post Office Scandal: this new musical tells the story of the Post Office Scandal, now recognised as one of the gravest miscarriages of justice in British history. This Is a co-production beiween Shropshire based rural touring company Pentabus and New Perspectives, commissioned for a major rural tour in Autumn 2024, directly infonned by conversations with affected sub-postmasters. By Jeanie O'Hare, with music and lyrics by Jim Fortune, co-produced with a cast of 4 actors, 2 musicians, featuring community choirs as part of the performances on tour. This renews a relationship with Pentabus, following the 2018 co-production of Crossings, also entering their 50th anniversary year presenting us with the opportunity to celebrate100 years of rural touring across both companies. This exciting collaboration will enable us to work with creatives at the top of their game and present theatre as a platform to share under-represented voices to rural audiences. To be developed with support from the RSC and National Theatre studio generate programme. (thej Woman: a New Perspectives commission of The B wntwood Prize for Playwrfting shortlisted script by award winning East Midlands, writer Jane Upton. A relatable. funny and painful new play foregrounding the challenges of balancing motherhood wth being a writer and everyday life., placing the spotlight on equity of opportunities for women in the workplace. A research and development week is being supported by the National Theatre studio generate programme as the play, with a 4-strong cast, is being developed for a studio theatre tour in Spring 2025. Through the year we will commission a research study to explore the potential of developing an Alumni offer to build on our New Associates programme and continue to explore creative ideas by brining artists together to explore new creative outputs, fuel ideas, share leamings, new techniques and practices to innovate, shape and infonn our future VK)rk.
NEW PERSPECTIVES THEATRE COMPANY REPORT OF THE TRUSTEES (continued) Summary We continue to develop ambitious new work and support the hotbed of talent across our region. We will explore new ways of worki'ng to create, co-create and share unique theatrical encounters at the same time demonstrating a commitsnent to support freelance and under-represented artists and practitioners as we navigate an ever-changing landscape. ..REF.ERENCE AND ADMINISTRATIVE DETAILS:..__ Name of Company: NEW PERSPECTIVES THEATRE COMPANY The company is incorporated under the 2006 Companies Act (number 3240198) and is governed by its Memorandum and Articles of Association. New Perspectives Theatre Company is a registered charty (No. 1058309). The company is managed by the Trustees who are appointed at the Annual General Meetlng, these Trustees have served during the year and Sin the year end date. BOARD OF TRUSTEES Richard Bond DL (Deputy Chair from 19.11.23) Ravelle-sade Fairman Jeremy Hague Sarah Hall (Chair) Jane Morgan Gerard Rogers (Company Secretary) Thulani Molife Johanna Taylor EXECUTIVE TEAM Angharad Jones - Artistic Directorl CEO Sally Anne Tye - Executive Director (responsible for the day to day running of the charity) REGISTERED OFFICE 8 Park Lane Business Centre Park Lane Basford Nottingham NG6 ODW COMPANY REGISTRATION NUMBER 3240198 CHARITY REGISTRATION NUMBER 1058309 BANKERS Unity Trust Bank 9 Brindley Place Birmingham B12HB 10
NEW PERSPECTIVES THEATRE COMPANY REPORT OF THE TRUSTEES (continued) INDEPENDENT EXAMINER James Liptrott Haines Watts Chartered Accountants Cllffe Hill House 22- 26 Nottingham Road Stapleford, Nottingham NG9 8A4 Trustees Responslbllities In Relatlon to Flnancial Statements Company law requires the Trustees to prepare financial statements that gtve a true and fair view of the state of affairs of the charity at the end of the financial year and of tts surplus or deficit for the financlal year. In so doing the Trustees are required to". Select suitable accounting policies and then appty them consistently; Observe the methods and principles in the charitles SORP; Make sound judgements and estimates that are reasonable and prudent Prepare the fjnancial statements on the going concem basis unless it is appropriate to presume that the charlty will not continue In business., and State whether appllcable UK accounting standards have been followed; subject to any material departures disclosed and explalned in the financial statements. The Trustees are responsible for maintalning proper accounting records which dlsclose with reasonable accuracy at any tlme the financial position of the charity and enables them to ensure that the financial statements comply with the Companies Act 2006. The Twstees are also responsible for safeguarding the assets of the charEty and hence for taking reasonable steps for the prevention and deteCOn of fraud and other irregularities. So far as we are aware, there Is no relevant infonnatlon of whlch the In¢Jependent Examiner Is unaware; As the Board of Trustees of the company we have taken all the steps we ought to have taken in order to make ourselves aware of any relevant informatlon and to estsbllsh that the charity's Independent Examiner is aware of that inft)nnation. The Trustees are responsible for the maintenance and Integrity of the corpor8te and financial Information included on the Charity's website. Legislation in the United Kingdom goveming preparation and dissemination of the financial staternents may differ from legislation In other jurisdlctions. Members of the Board of Trustees Trustees, who are Directors for the purpose of the company law and Trustees for the purpose of charity law, who served during the year and up to the date of this report are set out on page 1. Trustees of the charitable company guarantee to contrtbute an amount not exceedlng £1 to the assets of the charitable company In the event of winding up. The totsl number of Trustees at 31 March 2024 was 10 (9 in 2023). This report has been prepared in accordan wlth the Statement of Recommended Practice.. Accounting and Reporting by CharFties and in accordan with the special provislons of Part 15 of the Companies Act 2006 relating to small entities. 1811212024 Approved by the Board of Trustees on................................. and signed on its behalf by: (Trustee) 11
NEW PERSPECTIVES THEATRE COMPANY-COMPANY NUMBER 3240198 Independent Examinetrs report to the Trustees of New Perspectives Theatre Company I report on the charty Trustees on my examination of the accounts of the company for the year ended 31 March 2024. Responsibillties and Basis of Report As the chartty's Trustees (and also its directors for the purpose of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Since the company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. Independent Examiner's Statement I have completed my examination. I confirm that no matters have come to my attention in onnection with the examination giving me cause to believe:_ Accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or The accounts do not accord with those records", or The accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirements that the accounts give a 'true and fair view which is not a matter considered as part of an independent examination. or The accounts have not been prepared in accordance with the methods and principles of the Statement of recommended Practi 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 (FRS102)). I have no concems 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. James Liptrott FC Haines Watts Chartered Accountants Cliffe Hill House 22-26 Nottingham Road Stapleford Nottingham NG9 8AA 12
NEW PERSPECTIVES THEATRE COMPANY STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 Note Unrestrlcted Restrlctsd Funds Funds Total 2024 Unrestrlcted Restrlctod 31 March Funds Funds 2023 INCOME Investment income: Bank Interest Incoming resources from charitable activitles TOTAL INCOMING RESOURCES 959 421,988 30,400 452.388 334,592 334,592 423.922 30.400 454.322 335,551 335,551 EXPENDITURE Charltable activities: Expenditure on Charitable Activities 508.445 30.400 538.845 342,532 27,000 369,532 Support Costs 9.454 9,454 8,313 8,313 TOTAL EXPENDITURE 517,899 30.400 548,299 350.845 377 845 NET INCOMEI(OUTGOING) RESOURCES BEFORE TRANSFERS (93,977) (93,977) (15,294) (27.000) (42.294) THEATRE TAX RELIEF 13 94,509 18.244 NET MOVEMENT IN FUNDS NET INCOME FOR THE YEAR 532 532 2.950 TOTAL FUND AT 31 MARCH 2023 565.675 565,675 562,725 589,725 Transfer Between Funds 11 TOTAL FUND AT 31 MARCH 2024 10 566,207 568.207 565,675 565 675 The statement of financial activities includes all gains and losses recognised in the year. All incoming resources and resources expended arise from continuing activities. The notes on pages 15 to 21 form part of these accounts 13
NEW PERSPECTIVES THEATRE COMPANY- COMPANY NUMBER 3240198 BALANCE SHEEf AS AT 31 MARCH 2024 Notes 2024 FIXED ASSETS Tangible assets 2023 232,741 235,685 CURRENT AssErs Debtors Cash at bank and in hand 138.269 243,839 382,108- 74.833 286,079 360,912 CURRENT LIABILITIES CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 48.642 30.922 NET CURRENT ASSETS 333 466 329 990 NET ASSETS 566.207 565.675 REPRESENTED BY: UNRESTRICTED FUNDS 10 236,147 235,615 Special Productlons Fund Designated Capital Fund RESTRICTED FUNDS TOTAL CHARITY FUNDS 100,000 230,060 100,000 230,060 10 566,207 £ 565,675 The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ending 31 March 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006. The Trustees acknowledge their responsibilities for. Ensuring the company keeps accounting records which compty with Sections 386 and 387 of the Companies Act 2006, and Preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year in accordan with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to the financial statements, so far as applicable to the company and with the Financial Reporting Standard (issued January 2022). These accounts are prepared in accordan wtth the special provisions of Part 15 of the Companies Act 2006 relating to small entities. 1711212024 Approved by the Board of Trustees on ................... and signed on its behalf by: TRUSTEE TRUSTEE The notes on pages 15 to 21 form part of these accounts 14
NEW PERSPECTIVES THEATRE COMPANY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1. ACCOUNTING POLICIES The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: _ BASIS OF PREPARATION The financial statements have been prepared in accordance with the Accountlng 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 (FRS102) (effective 1 January 2019) - (Charities SORP (FRS102)), The Financial Reporting standard applicable in the UK and Republic of Ireland (FRS102) the Charities Act 2011 and the Companies Act 2006. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). The charity constttutes a public benefrt entty as defined by FRS102. The financial statements are presented in sterling (£). The financial statements have been prepared on the going concern basis, The Trustees assessment of going concem is contained within the Report of the Trustees. INCOMING RESOURCES Grants and donations are accounted for as soon as their amount and receipt are certain. In the case of donations this is usually only when they are received. All other income is accounted for under the accruals concept. Gifts in kind are valued at their estimated value to the charity. RESOURCES EXPENDED Expenditure is recognised when a liability is incurred. Costs of generating funds are those costs incurred in attracting voluntary income and those incurred in trading activities that raise ftjnds. Charitable activities include expenditure associated with the staging of dramatic productions and related activities and include both the direct costs and support costs relating to these activities, Governan costs include those incurred in the governan of the charity and its assets and are primarily associated with constitutional and statutory requirements. Support costs include central functions and premises costs and have been allocated to activity cost categories on a basis consistent with the use of resour5, but do not directly undertake charitable activities. 15
NEW PERSPECTIVES THEATRE COMPANY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED) FUND ACCOUNTING Unrestricted funds are available for use at the discretion of the Trustees in furtheran of the general objectives of the charity. Designated fvnds are unrestricted funds earmarked by the Board of Trustees for particular purposes. Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the tems of an appeal. FIXED ASSETS Fixed assets are included in the balance sheet at cost less accumulated depreciation. Depreciation is provided to write off the cost of fixed assets over their estimated useful lives at the following rates per annum: Equipment Motor vehicles 16.67Yo Fixtures and frttings 25% straight line straight line straight line Freehold premises have not been depreciated as the residual value is believed to be higher than historical cost. Individual assets costing less than £500 are not usually capitalised. LIMITED BY GUARANTEE The charity is limited by guarantee and in the event of it being wound up, every member is liable to contribute a sum not exceeding £1. LEASE COMMITMENTS Existing rentals paid under operating leases are charged to profit and loss account on a straight- line basis over the period of the lease. New rentals are capitalised as a °right of use. asset and subsequently depreciated over the perlod of the lease. Debtors Debtors wtth no stated interest rate and receivable or payable within one year are recorded at transaction price. Creditors Creditors and provisions are recognised where the Charity has a present obligation resultlng from a past event that will probably result in the transfer of funds to a third paty, and the amount due to settle the obligation can be measured or estimated reliably. Credttors and provlsions are normally recognised at their settlement amount. Flnancial Instruments The Charity has financial assets and financial liabilities of a kind that qualify as basic financial instrurnents. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlernent value. 16
NEW PERSPECTIVES THEATRE COMPANY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED) Judgement and Key Sources of Estimatlon Uncertainty The preparation of accounts using generally acpted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the accounts and the reported amounts of revenues and expenses during the reporting period. The key estimates and assumptions used in the F.inancial Statements are,detsiled.in the accounting policies. Pensions The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund, Contributions payable for the year are shown in the statement of financial activities. 2. INCOMING RESOURCES FROM CHARITABLE ACTIVITIES UnrestriGtsd Funds Restricted Funds Total 2024 Total 2023 Grants and production contributions: Arts Council England Others 308,631 308,631 69,680 378311 308,316 30,400 30,400 347,911 308 316 Performance and venue fees Other income Fundraising 46,025 26,637 1,415 46,025 26,637 1.415 74,077 25,421 15 840 Total 421,988 30,400 452,388 334,592 3. RESOURCES EXPENDED Total 2024 Total 2023 Expenditure on Charitable Activities (Production and Project Costs) Research and Development Costs Direct production costs Salaries and payroll costs Premises costs Administration Costs Marketing and Communications Travelling Professional fees Equipment and Other Repairs Depreciation Total 4,306 301,532 153,130 12,049 34,690 15,207 1,367 6,450 5,232 4,696 141,482 126,668 10,844 34,082 11,907 2,026 4,947 1,479 4,401 342,532 538,845 17
NEW PERSPECTIVES THEATRE COMPANY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED) 4. SUPPORT COSTS Total 2024 Total 2023 Salaries and payroll costs Accountancy and Independent Examination Fee Bank charges Confirmation Statement Fee Payroll Processing 2,250 877 13 1.020 9,454 2,250 761 13 1,067 8,313 5. NET INCOMING RESOURCES FOR THE YEAR This is stated after charglng: 2024 2023 Operating leases - equipment Independent Examiners services 926 2,250 926 2,250 6. STAFF COSTS AND NUMBERS Staff costs were as follows: 2024 2023 Salaries and wages Social security costs Pension costs 180,582 12,544 4,325 197,451 150,235 14,602 2,986 167,823 The average number of employees durtng the year was made up as follows: 2024 2023 Touring, production and related support No employee eamed more than £60,000 per annum. The remuneration paid to key personnel in the year totalled £87,441 (2023: £84,975). Trustee Remuneration and Related Party Transactlon The Trustees receive no remuneration. No Trustees were reimbursed expenses in 2024 or 2023. There are no other related party transactions. 18
NEW PERSPECTIVES THEATRE COMPANY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED) 7. TANGIBLE FIXED ASSETS Freehold Premises Motor Vehlcles Equipment Fixtures Total Fittings COST At 1 April 2023 Additions Disposal 230,060 68,254 98,549 2,542 1,937 399,405 1,937 At 31 March 2024 230 060 68,254 98.549 401,342 DEPRECIATION At 1 April 2023 Charge for period Eliminated on disposal 64,471 3,783 96,707 614 2,542 484 163,720 4,881 At 31 March 2024 68,254 97,321 3,026 168,601 NET BOOKVALUE At 31 March 2024 230,060 1,228 1,453 232,741 At 31 March 2023 230,060 3,783 1,842 235,685 8. DEBTORS 2024 2023 Trade debtors Prepayments and Accrued Income Other debtors Theatre Tax Relief (note 13) Other debtors including taxation and social security 1,200 8,101 8,795 138,269 1.761 138.269 10,484 13,190 22,235 26,319 2,605 74,833 9. CREDITORS Amounts falling due within one year 2024 2023 Trade creditors other creditors including taxation and social security Accruals and deferred income 5,840 26,568 42,802 48,642 4,354 19
NEW PERSPECTIVES THEATRE COMPANY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED) 10. ANALYSIS OF NET ASSETS BETWEEN FUNDS Year Ended 31 March 2024 Tangible fixed assets Net current assets Total 2024 Total 2023 Unrestricted funds Restricted funds Designated funds 2,681 233,466 236,147 235,615 230,060 232,741 100.000 333,466 330,060 566,207 330.060 565 875 Year Ended 31 March 2023 Tangible fixed assets Net current assets Total 2023 Total 2022 Unrestricted funds Restricted funds Designated funds 5,625 229,990 235,615 232,665 27,000 330,060 589,725 230.060 235,685 100,000 329,990 330,060 565,675 11. RESTRICTED FUNDS Year Ended 31 March 2024 At31 March 2024 At 1 April 2023 Incoming Resources Outgoing Resources Transfor lan McKellen Producer Grant Unity Theatre Trust D'oyly Carte Charitable Trust Peter Sowerby Foundation The British Council 25,000 1,400 4,000 25,000 1,400 4,000 30,400 30,400 Year Ended 31 March 2023 At31 March 2023 At 1 April 2022 Incomlng Resources Outgoing Resources Transfer Peter Sowerby Foundation The British Council 3,000 24.000 3,000 24.000 27,000 20
NEW PERSPECTIVES THEATRE COMPANY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED) lan McKellen Producer Grant- Funds brought forward £NIL, funds used to support a show project Called 'We Need New Names,, all spent in 2023124. Unit Theatre Trust- Funds brought forward £NIL, funds used to support a show project called 'We Need New Names, and 'Model Village,, all spent in 2023124. D'O I Carte Charitable Twst- Funds brought forward £NIL, funds used to support a show project called 'Model Village,, all spent in 2023124. Peter Sowerb Foundation - Funds brought forward £NIL, funds used to support postcard dramas, all spent in 2022123. The British Council - Funds brought foDNard £NIL, funds used to support a podcast project called 'Where l Belong,, all spent in 2022123. 12. RESERVE CAPITAL The company is limited by guarantee with no aLrthorised or issued share capital. The amounts guaranteed in the nature of reseNe capital are £1 . These amounts are only capable of being called up for the purpose of the winding up of the company. 13. TAXATION The charitable company is exempt from Corporation Tax on its charitable activities. A Govemment initiative, Theatre Tax Relief, commenced on 1 September 2014 - this gives rise in the period to a claim for Theatre Tax Relief to total £94,509 in 2024. 14. FINANCIAL COMMITMENTS The charity had an annual commitment to pay quarterly £232 net of VAT for a phone system held on lease which commenced in June 2019 for a five-year period. 15. PENSION COMMITMENTS The charity operates a defined contribution pension scheme. The assets are held separately from those of the charity in an independently administered fund. The pension costs charge represents contributions payable by the charity to the fund and amounted to £4,325 (2023: £2,986). 16. RESOURCES EXPENSED INCREASES The increases in expenditure are directly linked to the increase in touring activity durtng the period. 17. TRADE CREDITORS Due to the nature of the industry, it is common for trade creditors to fluctuate. 21