CAMDEN PEOPLE'S THEATRE REPORT AND FINANCIAL STATEMENTS 31st March 2024 COMPANY REGISTRATION NUMBER: 3256616 CHARITY REGISTRATION NUMBER IOS8723 Frank S LaGhman 31 Fairview Way Edgware Middlesex HA8 8JE
YEAR ENDED 31ST MARCH 2024 LEGAL AND ADMINISTRATIVE INFORMATION DIRECTORS & TRUSTEES: Isobel Colchester Conrad Murray Agatha Yerbury Rachel Bagshaw Kate Levine Tim Crocker-Buque Leanne Cosby Rupert Jessop Anthony Gray Fezzan Ahmed Paul Cohen (Chair) Resigned 26th February 2024 Resigned 11th May 2023 Appointed 9th November 2023 Appointed 26th February 2024 SECRETARY: Julianne Rodriquez Kaya Stanley-money REGISTERED OFFICE: 58-60 Hampstead Road London NW12PY REGISTERED ACCOUNTANTS: Frank S Lachman 31 Fairview Way Edgware Middlesex HA8 8JE CHARITY REGISTRATION NUMBEF 1058723 COMPANY REGISTRATION NUMBI 3256616 Page 1
CAMDEN PEOPLE'S THEATRE Directors Report 202312024 Company Law which is also applicable to charitable companies in England and Wales requires the directors, who are also trustees of the company, to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and of the results of the company for that period. In preparing those financial statements. the directorsltrustees are required to: seloct suitable accounting policies and then apply them consistently: observe the methods and principles in the Charities SORP" make judgements and estimates that are reasonable and prudent. state whether applicable UK accounting standards have been followed. subject to any material departures disclosed and explained in the financial statements. prepare the financial statements on Ihe going concern basis unless it is inappropriate to presume that the company will continue in business. The directorsrtrustees are responsible for keeping proper accounting records which disclose wth reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The directorsltrustees who served for the year unless indicated were: Directors & Trustees IsobeS Colchester (Chair) Conrad Murray Agatha Yerbury Rachel Bagshaw Anthony Gray Kate Levine Leanne Cosby Rupert Jessop Tim Cro¢ker-Buque Resigned 26th February 2024 Fezzan Ahmed Resigned 11th May 2022 Paul Cohen Appointed 9th November 2023 Appointed 26th February 2024 SeGretary Julianne Rodriquez Kaya Christina Stanley-money Registered Office 5840 Hampstead Road London NW12PY Registered Accountants Frank S Lachman 31 Fairview Way Edgware Middlesex HA8 8JE Charity Registration Number: 1058723 Company Registration Number: 3256616 Page 2
GAMDEN PEOPLE'S THEATRE Artlstlc and Executive Dlrectors, and Trustees, report The Artistic and Executive Directors, and the Trustees, present their report and their financial statements for the year ended 31 March 2024. Dlreetors. Responsibilities Appotntment of trustees As set out in the Memorandum and Articles of Association, and amended by special resolution, the Trustees may from time to time appoint new trustees who shall serve for a maximum term of terms of three years unless the Trustees determine it to be in the best interests of the Company for an individual to serve a further term, in which case appointments may be made and positions held as per the provisions of the Memorandum and Articles of Association. Trustee induction and tralnlng New Trustees are invited to a welcome briefing by the Chair of TrLSStees and key members of staff including the executive director. An information pack is sent to all new Trustees. including the Charity's Memorandum & Articles of Associalion, recent Reports and accounts, the Business Plan, minutes of recent Board meetings. a full list of the members of the Board, and the Charity Commission's guidance for new Trustees {CC3-The Essential Trustee: What you need to know). Trustees keep up to date with regulatory requirements and good practice. The Board undertakes a regular skills audit and reviews roles and SpOnsIbl11t1eS to maximise its effecliveness. Principal activlty and charitable objective The main objectives of the charity are to advance education for the public benefit by the promotion of the arts. in particular but not exclusively the arts of drama. Organisation and Constitution The company was incorporated on 30th September 1996, and is governed by its Memorandum and Articles of Association. A Board of Tru5tee5, who meet quarterly. administers the charity. Artistic and Executive Directors are appointed by the Trustees to manage the day to day operations of the Charity- The existing trustees are entitled to appoint further trustees in accordance with the Memorandum and Articles of Association. The company is limited by guarantee and has no share capital. The guarantees of individual members are limited to £1. Executive Summary 2023124 has Gontinued to reflect a period of change and adjustment for CPT and the wider theatre sector. Creatively, the organisation celebratèd a return to pre-pandemic audience numbers that reached 13,500 across the year. Our programme was peppered with ambitious and exciting new work from 265 artists, including our latest Chrislmas Commission, A They in a Mang&r. created by the brilliant Wardrobe & Sons. co-produced by CPT and the 1 Oth anniversary iteration of Calm Down. Dear - our festival of radical feminist performance that was guest-curated by award-winning feminist theatre company RashDash. Page 3
CAMDEN PEOPLE'S THEATRE Beyond CPT'S walls, we saw supported artists and shows propelled to mainstream acclaim. demonstrating the impact that CPT'S support can have on an individual artist or project. This included. Haley McGee's solo show Age Is a Feeling, Ih originally commissioned as part of CPT'S 25 anniversary celebrations. selling out its run at the Edinburgh Fringe before completing sell-out runs at Soho Theatre where it won a Fringe First and was nominated for an Olivier award., HBO series Rain Dogs, written by Cash Carraway and starring Daisy May Cooper, premiered on the BBC. The screenplay was developed from Cash's memoir, Skint Estate, which started life as the play Refuge Woman, commissioned and supported by CPT for our 'No Direction Home, festival in 2018. Nouveau Riche's smash-hit show Queens of Sheba initiated on our Starting Blocks scheme in 2018, and already a huge hit UK-wide- transferred off-8roadway as part of the prestigious 'Under the Radarf festival In January (alongside another CPT-initiated show, Rachel Mars, Your Sexts are Shitl Older Better Letters ): and disabled-led company Flawbored. transferring their Seed Commissioned show to Soho Theatre, New Diorama Théatre and then to New York for an off-broadway run. We continued our work to diversify the decision making processes in the organisation, building a strong foundation for our Local Steering Group- now made up of 15+ volunteers- to design our community engagement programme and to integrate them into the commissioning process for our artist development schemes. We also expanded the remit of our New Programmers Scheme to include the programming of a 1-week festival in autumn 2023 before they took on the mammoth job of programming the 27th iteration of SPRINT Festival in March 2024. Against the backdrop of a very challenging financial climate for our organisation and the artists and communities that we work with, CPT Is proud of the work we've presented this year. The detemination of the artists and participants that we support to continue to create radical, exciting work that unites our collective experiences of the world, inspires us to adapt. It feels more important than ever that our space remains open lo our artists. our community and our audiences. with a programme that is reflective of their experiences and celebrates the stories not often heard. Artistic l Engagement Programme Our programming and artist support work continued to feel critical in 2023-24, a year of continued sector-wde reduction in opportunitie5 for early-career artists and available platfomis for their work- not to mention the mounting difficulty of securing funding for that work. Such was the backdrop to a year in which, despite tighter commissioning budgets than previously, CPT maintained high levels of artists support. much of it undertaken with support from the Paul Hamlyn Foundation. and a high volume of programming- i.e. new shows per night by adventurous independent theatre- makers, most nights of the year. Throughout the year, our programme gave prominent place to a range of projects and artists supported via our in-house support schemes. In 2023. we presented successful runs of I m Sorry I'm Not Lucy Liu, about British-Asian representation. by Eden Jun (outstripped its box office target by 159 % )- of Tobi Bakare's Before l Go {Tobi first started his acting career in CPT'S in-house show Fog Everywhere back in 2017) . of Peyvand Sadeghian's DUALI ,' and of Hannah Maxwell's Edinburgh fringe hit Nan, Me and Barbara Pravi. Other highlights of spring '23 included a fortnight's run of Brian Mullin's Live to Tell.. (A Proposal For) The Madonna Musical, about the realities of living with HIV. and a very popular run for Votive Theatre's innovative perfoman¢e Choose Your Fighter. Our ongoing experiment with inviting new programming voices to take the reins at CPT continued with our New Adventures festival in September. when the participants on our pilot New Programmers Scheme curated and presented their own week's worth of contemporary performance. (They later contributed substantially to Ihe programming of our annual Sprint festival, in March '24.) Another example- our annual 'Calm Down, Dear, feslival of innovative feminist theatre was this year guestacurated by the fantastic performance duo RashDash (aka Helen Goalen and Abbi Greenland} and marked their first experience of programming. As in the previous year. our programme was vulnerable to late cancellations when artists failed to secure funding - or, on olher occasions. to poor artist wellbeing in a very challenging professional climate. Two major events fell through in 2023. although the second of those- our Home Run commission English Kings Killing Foreigners by Philip Arditti and Nina Bowers- was re-scheduled to great success in the spring of 2024. Other prominent projects in 2023-24 were Antisemitism a musical, which opened at CPT for a fortnight's run just as conflict broke out again in IsraellPalestine, which added significantly to the challenge of presenting this bold and provocative work. That show ran in an unusual (for us) but popular musical double-bill that included Dora Colquhoun's ADHD the Musical. Page 4
CAMDEN PEOPLE'S THEATRE In early 2024, we presented a two-week festival, 'More Ihan Human, exploring animals, people, Al - and the intersections beeen. This included the work-in-progress premiere of CPT'S own production, The Mirror Test, directed by our Artistic Director, Brian Logan. with a company of CPT artists, and exploring animal cognition and human exceptionalism. In that same period. we welcomed 6 new artists onto our prestigious Slarting Blocks support scheme: Eloise Heath: Jim Osman. Michelle Hudson. pisslCARNATION' Sara Amini. and Kathrine Payne. (It's worth noting we received vastly more applications than usual, totalling 330.) Several of these artistslprojects went on to great things- pisslCARNATION's show Ugly Sisters won the Underbelly Untapped Award and will transfer to the Edinburgh fringe,. Kathrine's Plewds won the Mary Dick award, which supports marginalised artists to perform at Summerhall, also at the Edinburgh fringe. Sara Amini graduated from Starting Blocks straight into an assistant directing role at the Royal Shakespeare Company. We offered seed commissions to a new. nine-strong cohort of artists from backgrounds marginalised in the arts. after an application and interview process in which (as with Starting Blocks) our local steering group of Camden residents were closely involved. These artists were: Obadiah- Habebe Fazel & Cemile Ahmet., Eleanor Hill., Naz Simgek aka Laz Lightning,. Sammy Trotman,. Kc Gardiner. Maya Williams; Tatum Swithenbank. and Simeon Campbell. Of last year's seed commissioned artists. we supported Sierra Sevilla to develop her project For the Love of Spam to fruition, including an international tour and imminent Edinburgh fringe run. Other recipients of our artist support continued to flourish, including Flawbored, whose 2022 CPT seed commission Its a Mothertcking Pleasure transferred to Off-Broadway, New York. and The Mosin8e Project by Counterfactual, another winner of the Underbelly Untapped Award. Among the other artists we supported to make new work in 2023-24, Emergency Chorus were assisted via our 'Developed on Drummond Street. scheme (co-run with our neighbours Old Diorama) to make Town Criers, an experimental outdoor performance made with local residents, and performed - to great acclaim - at our Tolmers Square Variety Spectacular event in July. We also shepherded I9 Home Run commissions towards Go-production in 2024 (English Kings and GRILLS). commissioned and co-produced (with Wardrobe & Sons) a popular queer Christmas show, A They in a Manger, which played lo enthusiastic audiences throughout December, and commissioned a major new project co-created with community members, Kelly Green's MILF- the Musical. This year, across our programme and commissioning call outs we received and read applications from 853 artistslcompanies (up 28 % 22-23>- Of our programmed artists this year, 26 % identified as male, 550/0 as female. and 120/ as trans or non-binary. (Two-thirds of our commissions again went to artists identifying as female.) More than half of programmed or commissioned artists, and 60+ % of applicants to our call-outs identified as LGBTQ+ 20°/o of our programmed artists identified as deafldisabled. Of our Commissioned artists, 220/0 identified as Black African Caribbean I Black British, 9 % Asian or Asian British, 7°/0 mixed racelmixed heritage and 590/0 White I White British - very closely in line with 2022-23 figures. 28 % of programmed artists identified as working-class. 19 % as migrants. Our audience data for the year suggests that 53°/o of respondents were first-time visltors. 510/0 were female, compared to 28010 male and 6 % non-binary, genderfluid or trans. 450/0 {up from 290/0) identified as LGBTQ+. 25 % of our audience identified as deaf andlor disabled, 17 % identified as working-class. 220/0 as migrant. and 300/0 as Global Majority. Over the year, 91 % of our audience agreed with the statement "It made me feel more closely engaged wth the world I live in" after seeing shows at CPT. CPT rethought this year how we structured our community engagement work. as part of which we discontinued our in- house Community Engagement Manager role and explored more specialist freelance roles to deliver our activity. Alongside KellS project and fown Criers, though, w8 did engage with local communities in a wide range of ways, including our Tolmers Square festival. the free oral history workshops we offered in Gollaboration wth Star Creative Heritage. and the ongoing Camden Youth Theatre offer we make available to local young people in collaboration with New Diorama Theatre. CYT performed their new show And The Stars Were Burning Brightly by Danielle Jawando at CPT and New Diorama in May 2023. We also continued to meet monthly with our Local Steering Group. whose involvement in our work grew to encompass a regular presence on selection and interview panels for commissioning and recruitment. The steering group also curated quarterly Gommunity takeover days, with free activities for local residents and families. while at the end of the year, one of their number. Kara Cole-Rajotte, was recruited to our new Community Coordinator role. Page 5
CAMDEN PEOPLE'S THEATRE Funding CPT is incredibly grateful for the support of our funders in 2023124. This year proved to be particularly challenging in terms of competition for funds from Trusts & Foundations. Despite this, we were able to secure tW(Fyears of funding from the City Bridge Trust to drastically improve our accessibility and the number of access performances that we present at the theatre. In the first six months of the project we saw 145 access tickets, up from 79 in the previous financial year. This funding also led to a new partnership with Extant's Enhance programme that will see three CPT companies trained to make their work accessible to audiences with Visual Impairments. We're excited to continue this transformalional work over the next two years. We entered into the se¢ond year of funding from the Paul Hamlyn Foundation, with major commissions such as A They in a Mang8r, comlng to fruition and the groun(Ork laid for three further Home Run commissions to take place in 24125. That being said, we continued to be heavily impacted by the competition for Arts Council Project Grants, which resulted in a number of significant runs being cancelled. The wider impact of these cancellations, across bar income, individual giving Income and ticket sales cannot be understated. As a result we have opted to tske a more hands on approach wilh our major commissions. ctrproducing them to reduce projèct delivery risk for funders and unlock the capacity to apply for Theatre Tax Relief. Desptte our indivldual giving Strategy being disrupted by the cancellation of major runs, our donation Income increased by 37°/o in 23124, proving the impact of the slrategy refresh that we conducted in late 22123. By the end of the financlal year,. our robust fundraising strategy had delivered 900kn of our frjndraising target for the 24125 financial year. A significant increase when compared to the previous year when just 600/0 of this target had been achieved by the same point. Our ambilion is now to sustain this trajectory of fOard fundraising to future proof the organisation and move towards a longer-term delivèry model lor our business plan. Flnanclal Revlew Acknowledging the challenges we were facing in securing funds from the Trust and Foundation sector. and the impact of inflation on our costs and salaries, CPT has focussed on driving forward our income recovery strategy. This included th6 creation of a number of new income streams and revenue genérating initiatives. such as a new corporale workshop and events offer. Whilst the broader impad of this has led to a small d&ficil of £10.000 in this financial year, our work to increase our eamed income has shown significant progress. Our end of year accounts show that earned income in 23124 represented 490/0 of our annual turnover (up from 42Yo in 22123), with Trusts and Foundations income representing 30Yo (down from 380/0 in 22123). Across our main areas of income generation we saw ticket sales increase by 5 % , bar income increase by 170/0 and hires income increase by 33 % on the pr8vious financial year. This demonstrates a strong recovery and rebalancing with CPT'S reliance on trusts and foundation income reducing. Rèserves pollcy Rèserves ar8 provided to ensure the financial stability of the charty and the abillty for it to meat its charitable objectives for the foreseeable fLJture. CPT aims to mainiain reserves at a level that is at least eqLsivalent to three months. operational expenditure, this year, in line wth our new staffing structure. This has been increased to £70,000. Totsl general funds stand at £56,355 at 31 March 2024, not including fixed assets. We aim to rebuild our minimum reserves in the 24125 financial year. The trustees review the amount of reserves that are required to ensure that they are adequate to fulFIl Ihe ¢hariWs continuing obligations on an annual basis at their board meeting. Page 6
CAMDEN PEOPLE'S THEATRE Going Concern We have set out above a review of CPT'S financial performance and the general reserves position. Our planning processes, including financial projections. have taken into consideration the Current economic climate and its potential impact on the various sources of income and planned expenditure. The trustees consider that there are no material uncertainties about the charitrfs ability to continue as a going concern. In fomiing this opinion, they have considered the impa¢t of the Covid-19 pandemic and cost-of-living crisis on both its income and expenditure for at least a period of Ie1ve months from the date of approval of these financial statements. Future Actlvlty 2024125 marks CPT'S 30th anniversary and we've launched an incredibly exciling programme of work to celebrate the brilliant work of the artists that we support. This includes major runs from CPT Home Run commissioned projects including English Kings Killing Foreigners (by RealFake Theatre) and GRILLS by Mirrorball that unearthed the history of the Camden Lesbian Centre and Black Lesbian Group that existed in the 80's. GRILLS is set to headline The Camden Roar Festival, a three-week celebration of Camden's heritage and culture. Signrficantly this festival is curated by our Local Steering Group who have programmed all of the events and a community takeover day following an open call. The festival also features a work in progress performance of CPT'S next major in- house show. Bengali Boys, created by Jonny Khan that digs into the history of social organising that has emanated from our building. We've also launched a 301h anniversary fundraising campaign that seeks to raise significant funds to secure the future of our artist development programme and a new partnership wth Camden Market to bring CPT artists and our festivals to the amaang spaces around Hawiey Wharf. In early 2024125 it was announced that CPT'S long-standing Artistic Director, Brian Logan, would be stepping down from the organisation after 13-years in post. The trustees launched an open recruitment process, which involved our wider staff team and local community members, to find our new Artistic Director - Rio Matchett. Rio joins CPT having led the studio programme and artist development scheme (Furnace) at Leeds Playhouse for the last five years. She is a dramaturg and artist development specialist and the trustees are delighted to welcome her onto the team. Whilst we continue to navigate a very challenging financial climate. CPT is utilising its resourcefulness and flexibility to adapt our organisation and business model and respond quickly and effectively to the landscape that we are operating in. We're confident that if we continue on this trajectory our business model and income streams will be more robust and provide u5 with the foundation for longer temi planning as we enter an exciting phase for the theatre under new leadership. Public Benefit The Trustees confirm that in compiling this report they have had due gard to the guidance on public benefit issued by thecharity Commission in compliance with the duty set out in section 4 of the Charities Act 2006. This report has been prepared in accordance wth the provisions in Part 15 of the Companies Act 2006 applicable tocompanies subject to the small companies regime. This report was approved by the board on 7th November 2024 and signed on its behalf by Isobel Colchester Isobel Colchester Page 7
CAMDEN PEOPLE'S THEATRE Independent Examinerfs Report on the Accounts I report to the charity trustees on my examination of the accounts of the company for the year ended 31 st March 2024 which are set out on pages g to 15 . Respective responsibilities of trustees and examiner The trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the accounts. The trusteès consider that an audit is not required for this year under section 144{2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity's gross income exceeded £250,000 and l am qualified to undertake the examination by being a qualified member of The Association of Chartered Certified Accountants. examine the accounts under section 145 of the 2011 Act. follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5){b) of the 2011 Act. and state whether particular matter5 have come to my attention. Basis of independent examinefs statement My examination was carried out in accordance with General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts. and seeking explanation5 from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit. and Consequently no opinion is given as to whether the accounls present a "true and fair view" and the report is limited to those matters set out in the statement below. Independent examineVs statement In connection with my examination. no matter has come to my attention: 1. which gives me reasonable cause to believe that in. any material respect, the requirements.. to keep accounting re¢ords in accordance with section 386 of the Companies Act 2006. and to prepare accounts which accord with the accounting records, comply wth the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or 2. to which, in my opinion. attention should be drawn in order to enable a proper understsnding of the accounts to be reached Frank S Lachman Chartered Accountant Independent Examiner 31 Fairview Way Edgware Middlesex HA8 8JE 7th November 2024 Page 8
CAMDEN PEOPLE'S THEATRE Statement of Finan¢lal A¢tlvltlgs For th8 Year Ended 31st March 2024 Restricted Restricted Funds Funds Notes Incoma Capital Unrn8tri¢ted Funds DesSgnated General Total Funds 2024 R•strtcted Restrlctad Funds Funds Incomè Capltal Unr•stricted Funds Dèslgnat•d G•n•ral Total Funds 2023 Income Legacles and donations Bank Interest 182.590 98.857 1.734 281.447 1,734 125.276 159,035 284.311 3g8 Chariiable activities 289.192 289.192 217.245 217,245 Total Incomo 182.590 389,783 572,373 125,276 376.678 501.954 Expenditure Charltabl8 Actlvity Costs 182,590 55.038 400.973 638.601 126,238 61,599 398,194 586.031 Total oxp•ndltur• 182,590 55,038 400.973 638.601 126,238 61.599 398,194 586.031 Roconciliatlon of Funds Net IncomellExpenditurel {55.0381 111,190} 166,2281 {962) 161.5991 (21,5161 184.0771 Funds brought fward 518,062 67.435 585.497 573,100 96,474 669.574 Transfers betsveen funds 6,561 17.523) Funds carrled fonvard 463.024 56,245 519,269 518,062 67,435 585,497 The ststement of Financtal Activities reflects the Te5ulls of ¢onllnuln9 aclivSties lor the year. There were no reo)gniseA gains or losses other than the net oulwlng resources for the year. The net outgoing resources for the year have been calculated on the hSstorlcal ojst basis. The notes on pages 11 to 15 fomi part of these accounts. Page 9
GAMDEN PEOPLE'S THEATRE Balance Sheet at 31st March 2024 Notes 2024 2023 Fixed assets Tangible assets 463.024 518.062 Current assets Debtors Cash at bank and in hand 43.226 198.825 35,586 146,416 Total current assets 242,051 182.002 Creditors due wlthin one year 8 185,716 114,567 Net current assets 56,335 67,435 Net assets 519,359 585,497 The Funds of the Charity Restricted Funds 463,024 518,062 Unrestricted Funds 56.245 67.435 Total Charity Funds 519,269 585.497 For the year ended 31 March 2024 the company was entitled to exemption under section 477(2} of the Companies Act 2006. No members have required the company to obtain an audit of its accounls for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibility for.. i. ensuring the company keeps accounting records which comply with section 386,. and ii. preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the section 393, and which otheiSe comply with the requirements of the Companies Act relating to accounts. so far as applicable to the company. The accounts have been ppared in accordance with the special provisions applicable to companies subject to the small companies, regime under Companies Act 2006. Approved by the directors on 7th November 2024. and signed on their behalf by Isobel Colchester Isobel Colchesler Page 10
CAMDEN PEQPLE'S THEATRE Notes to the Financlal Statements For the Year Ended 31st March 2024 1 Accountlng Polices (a) The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practits 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)- (Charities SORP {FRS 102>). the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Camden People's Theatre meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless OtheISe stated in the relevant accounting policy note(s). {b) Tanglble Fixed Assets Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life, as follows.. Fixtures, fittings and equipment Leasehold improvements 25 % straight line Over the life of the lease (c) Income Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the items of income have been met, it is probable that the income will be received and the amount can be measured reliably. Income from grants, whether capital or revenue grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants has been met. it is probable that the income will be received and the amount can be measured reliably and is not deferred. {d) Expenditure l expenditure is accounted for on an accruals basis. Expenditure is recognised once ther8 is a legal or constructive obligation to make a payment to a third party. It is probable that settlement wll be required and the amount of the obligation can be measured reliably. Costs are allocated to a category either because such costs are directly incurred in relation to such category. or because they are support costs in respect of which an apportionment has been made beeen the categories. Support Costs consist of infrastructure costs for salaries. premises. office administration. Such costs are apportioned on a reasonable and consistent basis to the various categories wth a view to determining. as accurately as possible. the total resources expended for each category. The basis of apportionment used is eilher a fijnction of staff time applied to a given activity, or an estimate of the proportion of costs associated with the same, or a combination of both. Direct and Support costs are separately shown by natural classification in Note 5 to these accounts for each category of cost. (e) Taxatlon The company as a registered charity ( number 1058723) is exempt from taxation on most investment income insofar income insofar as it is applied for charitable purposes. The company is also exempt from tsxation on capital gains. (fj Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Page11
CAMDEN PEOPLE'S THEATRE Notes to the Flnanclal Statements For the Year Ended 31st March 2024 (g) Creditors and provlslons Creditors and provisions are recognlsed where Ihe charity has a present obligation resulting 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 Gan be measured or estimated reliably. Creditors and provlsions are normally recognised at their settlement amount after allowing for any trade discounts due. 2 Grants and donations Unrestrlcted Restrlcted Restricted Funds Funds Funds Income Capital Unrgstri¢tsd RÈ8tri¢tsd Restrictsd Funds Funds Funds Income Capitsl 2024 2023 Grants for Specifi¢ Purposes Arts Council England Arts Council England - GRILLS Philip Arditti Paul Hamlyn Foundation Backstage Trust Camden Giving Fund Camden Collective Camden Events City of London London Borough of Camden Euston Tower Garrick Charitable Trust Garfield Weston Robert Gavron Individual donation Lablech Tech London Access to Work 71,288 71,288 26,998 26,360 95,700 14,400 71.288 71.288 26,998 26,360 95,700 14,400 95,700 95,700 3,754 3.988 3,754 3.988 850 30,375 29,200 4.500 2,000 850 30,375 29,200 4.500 2.000 15.000 5,000 14.569 18,650 15.200 33.850 15,000 25.000 25,000 5,000 14.569 10.338 10,338 1,000 2.460 1,000 2.460 Deferred Grants brought foThvard Deferred Grants carried forward 79.605 (2.000) (132.398) 79,605 (134.398) 116.538 {79,605) 116.538 {79,605) 98,857 182,590 281,447 125.276 159.035 284,311 3 Charitable activitles Unrestrlcted Restrlcted Restrlcted Funds Funds Funds Income Capital Unrestrictsd Restricted Restrl¢ted Funds Funds Funds Income Capital 2024 2023 Box Otfice 131.655 44,774 54,119 10,695 47,949 131.655 44.774 54.119 10.695 47,949 123.101 37.391 36.573 123.101 37.391 36,573 Cafe and Bars Hires and fees Theatre Tax Relief Sundries and reimbursem8nts 20.180 20.180 289.192 289.192 217,245 217,245 4 Net Incomel{Expenditure> 2024 2023 Net Incomel(Expendilure) is stated after charging: Independent Examlner's fee Depreaation of tangible assets 2.200 55,038 2.200 55,038 Page 12
CAMDEN PEOPLE'S THEATRE Notes to the Financial Statements For the Year Ended 31st March 2024 5 Charitable actbvlty costs Charitablo Charitable Capital Charltable Support Activity Activity Activity Costs Costs Costs Costs Unrestricted Restricted Restricted Unrestricted Governance Costs Total 2024 Dirèct costs Staff fees and salaries (see below) Recruitment, volunteer costs. training. travel and hospitality Artistic expenditure, freelance fees and production costs Ticketing and merchant Services Box Office Remittance Publicity and marketing PRS and licensing fees Café costs Telephone and IT costs Maintenance, repairs and utilities Support costs Independent Examinels fee and accountancy Depreciation Bank charges Insurance Health and Safety Legal, professional and consultancy fees Premise5 and office costs 25.500 66,678 162,194 254,372 11.134 11,134 100.297 76.049 13.119 47.920 6,459 830 15,932 176.346 13,119 47,920 10,574 1,031 15,932 2,899 10.303 4.115 201 2.899 10.303 4.060 4,060 55,038 95 4,671 2,568 55,038 4.671 2.568 48 16,901 11,500 28,401 Total 2024 52,788 182,590 55.038 343.940 4,155 638,511 2023 Comparatives Direct Costs Staff fees and salaries (see below) Recruitment, volunteer costs. training, travel and hospitality Artistic expenditure, freelance fees and production costs Ticketing and merchant Services Box Office Remittance Publicity and marketing PRS and licensing fees Café costs Telephone and IT costs Maintenance, repairs and utilities Support costs Independent Examinerfs fee and accountancy Depreciation Bank charges Insurance Health and Safety Legal, professional and consultancy fees Premises and office costs 26.000 78.730 160,533 265,263 3,099 3,099 47.568 54.309 13.390 71.909 10.863 101.877 13.390 71,909 10,863 336 14,487 2,608 12,580 336 14.487 2,608 6,561 6,019 4,800 4,800 55,038 82 3,702 811 144 25,102 55,038 82 3.702 811 144 25.102 Total 2023 58,703 126,298 61,599 334,609 4,882 586,091 Page13
CAMDEN PEOPLE'S THEATRE Notes to the Financial Statements For the Year Ended 31st March 2024 Staff fees and salariès 2024 2023 Salaries Pensions Social Security cosrts 238.303 3,721 12.348 254,372 247,350 3.944 13,969 265,263 Number of Staff 32 33 No employees received remuneration in excess of £60.000 in the year. (2023 none) 6 Tangible Flxed assets Leasehold Improvements Flxtures fittings & equipment Total Cost At 1 st April 2023 Disposals Additions 543,097 108,528 651,625 At 31 st March 2024 543,097 108,528 651,625 Depreciation At 1st April 2023 Disposals Charge for the year 74.674 58,889 133,563 55,038 55,038 At 31 st March 2024 129,712 58.889 188,601 Net Book values At 31st March 2024 413,385 49,639 463,024 At 31st March 2023 468,423 49,639 518,062 7 Debtors 2024 2023 Trade debtors Other debtors Prepayments and accrued income 16,344 262 26,620 17,119 200 18,267 43,226 35,586 Page 14
CAMDEN PEOPLE'S THEATRE Notes to the Financial Statements For the Year Ended 31st March 2024 8 Creditors due within one year 2024 2023 Trade creditors Deferred Grants Deferred income Other Taxation Accruals 18,139 134,398 25,568 5,026 2,585 185,716 12,016 79,605 18,145 541 4,260 114,567 9 Reconciliation of movements in Funds Balance at 1 April 2023 Income Balance at 31 Transfers March 2024 Expenditure Restricted Funds - General - Capital 182.590 (182,590) (55.038} 518.062 463,024 Unrestricted Funds - General - Designated 67,435 389.783 (400,973) 56,245 585,497 572,373 638,601 519,269 The above funds comprise: Restricted Funds: are monies held for use in specific activities. General Fund: are moneys which can be used by the Trustees at their discretion for any purpose and which have not been designated by Ihem previously. These rflect three months running costs. Transfers between Funds: transfers beeen unrestricted and restricted funds represent the companrfs contribution to restricted projects. 10 Analysis of net assets between Funds Tangible Fixed Assets Net Current Assets Total 2024 Total 2023 Restricted Funds 463,024 463,024 518,062 Unrestricted Funds- General Designated 56,335 56,335 67,435 463,024 56,335 519,359 585.497 11 Trustees During the year. none of the trustees received any remuneration from the trust and no expenses were reimbursed to any of them. Page 15