2022-03-31-accounts - Hackney Empire Limited

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		Page
Legal and administrative	information	1-2
Vision, Mission &Values
Trustees' report		4-16
Independent auditors'	report	17-20
Statement offinancial	activities	21
Balance sheet		22
Cash flow statement		23
Notes to the financial statements		24-41

Constitution	Hackney Empire Limited is	a	company limited by guarantee,	company limited by guarantee,	company limited by guarantee,	company limited by guarantee,	company limited by guarantee,	company limited by guarantee,	not
	having a share capital. The company is a registered Charity						governed
	by its Memorandum and Articles ofAssociation.
Objects	The company's main objects,	as set out in the Articles, are			to			advance
	public education and appreciation of the			arts and to	provide				the
	theatre facility for recreation		and leisure	time occupation				in	the
	interests ofsocial welfare with		the object of improving the			conditions
	of life, particularly of the	inhabitants of		the London	Borough				of
	Hackney.
Organisation	The board ofdirectors ofthe	company and		the sub-committees have
	overall responsibility for the		running of	the company.				Through
	regular board meetings and	sub-committee		meetings the			directors,
	who are the Trustees for the	Charity, advise the management						of	the
	company, in particular an	strategy. The		Board appoints				a Chief
	Executive who is responsible	for policy and		day to day management
	ofthe Charity.
	Hackney Empire Limited has		a wholly own subsidiary				company,
	Hackney Empire Trading Limited. This company was					formed			to
	generate commercial income		at Hackney	Empire for the		benefit			of
	the parent company to which		it gift aids any profits made.
Board of directors	William Atkinson Chair		(appointed	22.03.2022)
	Delphine Brand		(resigned	22.03.2022)
	Roger Woolfe
	Karin Gartzke
	Sean Gascoine
	Jay Sheth		(resigned	27.09.2022)
	Mark Harwood		(resigned	08.02.2022)
	Matthew Roeser
	David Adams
	Richard Etienne
	Josette Bushell-Mingo		(appointed	13.09.2022)
	Soheb Panja		(appointed	13.09.2022)

Finance Committee	Finance Committee	Finance Committee	David Adams
			Delphine Brand			(resigned			22.03.2022)
			Roger Woolfe
			Mark Harwood			(resigned			08.022022)
			Matthew Roeser
			William Atkinson			(appointed			22.03,2022)
Executive	Director /
Company	Secretary		Jo Hemmant
Artistic Director			Yamin Choudury
Other principal		officers
Technical	Manager		Othman Reid
Head of Programme			Jane Walsh
Head of Development			Elly Rothnie
Company	number		02060996
Charity number			1062085
Registered	office		Hackney Empire
			291Mare Street
			London
			EB 1EJ
Auditors			Saffery Champness		LLP
			71Queen Victoria		Street
			London
			EC4V 4BE
Bankers			Barclays Bank PLC
			27 Soho Square
			London
			W1D 3QR
Accountants			EPIC Investment	Partners
			Audrey House
			16-20 Ely Place
			London
			EC1N 6SN
Connected	charities		Hackney Empire		Limited	is connected		with		the	Hackney	Empire
			Preservation Trust,		which	owns the	theatre		building.		Hackney	Empire
			Limited benefits	from the		continued	occupation			of	this property at a
			peppercorn rental

		Risk	Risk		Mitigation
				~	Forward planning to ensure best	possible		programme.
External	forces		(recession/public	~	Plan marketing cycle to optimise	income.
spending	etc) impact on business			~	Ensure secondary spend offer competitive.
plan				~	Monitor cash flow.
				~	Ensure maintenance and operations		manuals		are sufficient
					and up to date.
Building	related		difficulties	~	Implement appropriate maintenance		strategy.
				~	Make suitable financial provisions	where		possible to ensure
					effective maintenance.
				~	Succession planning.
				~	Documentation ofsystems plans	and	projects.
Loss of	key	staff		~	Training progra mmes,
				~	Notice periods and handovers.
				~	Recruitment process.
				~	Reserves policy linked to Business Plan, activities and
					identified financial and operating	risk.
Inadequate		reserves		~	Regular review of policy
				~	Free reserves established

		Notes	Unrestricted	Restricted	2022	2021
			Funds	funds	Total	Total
			6	6	6	6
Income from:
Donations, gifts, and legacies			120,955		1.20,955	219,829
Grants receivable			375,295	573,730	949,025	1,608,680
Investment income			135		135	718
Income from trading activities			366,934		366,934	64,575
Income from charitable
activities
Income from running	theatre		1,481,950		1,481,950	7,892
Total income			2,345,269	573,730	2,918,999	1,901,694
Expenditure on:
Cost ofraising funds
Fundra ising costs			49,924		49,924	35,021
Charitable activity
Cost af operation ofthe
theatre			2,230,288	1,023,567	3,253,855	1,628,512
Total expenditure			2,280,212	1,023,567	3,303,779	1,663,533
Net income/(expenditure)
for the year			65,057	(449,837)	(384,780)	238,161
Transfer between funds		17	383,817	(383,817)
Corporation tax			66,806		66,806	5,905
Net movement in funds			515,680	(833,654)	(317,974)	244,066
Opening fund balances			1,268,389	7,867,528	9,135,917	8,891,851.
Closing fund balances		17,18	1,784,069	7,033,874	8,817,943	9,135,917

				Notes	Group		Charity
					2022	2021	2022	2021
					f	f	f	f
Fixed assets
Tangible assets				12	7,227,459	7,800,397	7,227,459	7,800,397
Investments				13			1	1
					7,227,459	7,800,397	7,227,460	7,800,398
Current assets
Debtors				14	166,197	251,678	314,803	288,391
Stock					8,075
Cash at bank	and	in	hand		2,357,514	1,513,815	2,157,060	1,499,727
					2,531,786	1,765,493	2,471,863	1,78E,118
Creditors. Amounts			falling
due within one year				15	(941,302)	(429,973)	(881,380)	(392,418)
Net current	assets				1,590,484	1,335,520	1,590,483	1,395,700
Total assets	less current
liabilities					8,817,943	9,135,917	8,817,943	9,196,098
Net assets					8,817,943	9,135,917	8,817,943	9,196,09E
Represented	by:
Restricted funds				17	7,033,874	7,867,528	7,417,691	7,867,528
Linrestricted	funds:
General funds				18	1,784,069	1,268,389	1,400,252	1,328,570
Total				19	8,817,943	9,135,917	8,817,943	9,196,098

			2022	2021
Reconcil)ation of net income/(expenditure)
to cash inflow from operating activities
Net income/(expenditure)		(317,974)	244,066
Depreciation		667,256	649,760
Interest received		(135)	(718)
Inventory		(8,075)
Decrease/(increase) in debtors		85,480	122,196
(Decrease)/increase in creditors
(excluding loans and finance leases)		511,330	(221,339)
Net cash inflow from operating activities			937,882	793,965
Cash flows from investing	activities
Interest received		135	718
Payments to acquire tangible fixed assets		(94,318)	(170,974)
			(94,183)	(170,256)
Change in cash and cash	equivalents		843,699	623,709
Cash at 1April 2021			1,513,815	890,106
Cash at 31March 2022			2,357,514	1,513,815
nalysis of changes in net	debt
At start	ofyear (2021)	Cash-flows	At end ofyear (2022)
Cash	1,513,815	843,699	2,357,514
Total	1,513,815	843,699	2,357,514

Grants receivable
As at 31March 2022								Unrestricted	Restricted	Tota I
								Funds	Funds	2022
~ddt									f	f
Arts Council England								375,295		375,295
Arts Council England		- Culture		Recovery Fund					299,465	299,465
Clarion Futures									5,000	5,000
HMRC JRSGrant									38,520	38,520
~d» di
Arts Council England		—Capital		Works					23,903	23,903
Alter Ego									20,000	20,000
Children in Need									10,000	10,000
Cockayne grant									23,000	23,000
Esmde Fairbairn Foundation									35,000	35,000
Hackney Empire YOF		Grant							5,000	5,000
Hel Io Aga in									15,000	15,000
Impact Funds									38,640	38,640
London Borough of	Hackney								40,000	40,000
Steel Charitable Trust									11,000	11,000
The Churchill Fellowship									9,202	9,202
								375,295	573,730	949,025
As at 31March 2021								Unrestricted	Restricted	Tota I
								Funds	Funds	2021
								f	f	f
f d
Arts Council England								375,295		375,295
Arts Council England	- Culture			Recovery Fund					534,226	534,226
Arts Council England	- Emergency				Funding			244,555		244,555
Clarion Futures								5,000		5,000
Esmee Fairbairn Foundation			—Unrestricted				grants	23,500		23,500
HMRC JRSGrant									166,732	166,732
Jean Hodgkinson									5,300	5,300
London Community ~ddI~	Response			Fund					22,237	22,237
Arts Council England	—Capital			Works					120,535	120,535
Arts Council England	-	supplementary				grant			1,000	1,000
Children in Need									4,000	4,000
Ernest Hecht Charity									2,500	2,500
Esmee Fairbairn Foundation									47,000	47,000
FTO Yamana Peabody									2,000	2,000
Goldsmiths Company		Charity							3,000	3,000
Greater London Authority									10,000	10,000

Hackney	Council			300	300
London	Borough of Hackney			40,000	40,000
Youth Opportunity		Fund		1,500	1,500
			648,350	960,330	1,608,680

5	Income from t	rading activities
			2022	2021
			E	E
	Bars and catering income		187,620
	Location and	filming income	146,895	64,075
	Other income		32,419	500
			366,934	64,575
6	Income from theatre operation
			2022	2021
			E	E
	Boxoffice		558,263
	Theatre hire		701,814	1,217
	Merchandise		28,204	346
	Booking fees		48,665	1,961
	Theatre recharges		143,572	1,668
	Other income		1,432	2,700
			1,481,950	7,892
7	Fundraising costs
			2022	2021
			E	E
	Staff costs		41,515	34,713
	Fundraising	expenses	8,409	308
			49,924	35,021

Costs of	oper	a	tion oft	he theatre
					Unrestricted	Restricted	Total
					Funds	Funds	Funds
							2022
					f	f	f
Staff and	staff-related			costs	802,884	200,678	1,003,522
Depreciation					15,786	651,470	667,256
Promoters/production
costs					851,748	59,717	911,465
Education					5,320		5,320
Publicity					183,570	7,869	191,439
Premises	and general
running	costs				340,453	70,557	411,010
Overhead/administrative
costs					18,419	31,989	50,408
Governance			costs		12,148	1,287	13,435
					2,230,288	1,023,567	3,253,855
					Unrestricted	Restricted	Total
					Funds	Funds	Funds
							2021
							f
Staff and	staff-related			costs	145,186	445,579	590,765
Depreciation					8,682	641,077	649,759
Promoters/production
costs					24,265	25,072	49,337
Education					127	173	300
Publicity					22,750	9,470	32,220
Premises	and		general
running costs					160,145	81,857	242,002
Overhead/administrative
costs					25,534	29,489	55,023
Governance		costs			5,868	3,238	9,106
					392,557	1,235,955	1,628,512

Net income/(expenditure)		is stated after	charging:
				2022	2021
				f	f
Amounts payable to auditors for audit services- current year				12,780	11,025
Amounts payable to auditors -other service					1,300
Depreciation				667,256	649,760
Operating lease payments				95,089	36,936
People cost
				2022	2021
				f	f
Aggregate staff costs are		made up as follows:
Salaries and wages				860,565	483,385
Social security costs				64,892	39,634
Pension costs				14,910	8,963
Other staff costs				11,350	2,266
Subtotal				951,717	534,248
Professional Fees*				93,320	91,230
Total				1,045,037	625,478
Fundraising staff costs	(note 7)			41,515	34,713
Staff and staff-related	costs ofoperation		ofthe theatre (note 8)	1,003,522	590,765
				1,045,037	625,478
The number ofstaff receiving a salary over f60,000was:				2022	2021
				No.	No.
f60,000 —f69,999

	Freehold	Theatre	Fixtures	Total
	land and	improve-	fittings and
Group and Charity	buildings f	ments f	equipment f
Cost
At 1April 2021	222,758	18,581,122	609,746	19,413,626
Additions		34,360	59,958	94,318
At 31March 2022	222,758	18,615,482	669,704	19,507,944
Depreciation
At 1April 2021	108,061	10,934,813	570,355	11,613,229
Charge for the year	4,455	645,629	17,172	667,256
At 31March 2022	112,516	11,580,442	587,527	12,280,485
Net book value
At 31March 2022	110,242	7,035,040	82,177	7,227,459
At 31March 2021	114,697	7,646,309	39,391	7,800,397

The principal activities	of the subsidiary	of the subsidiary	are to generate	are to generate		income for Hackney	income for Hackney	income for Hackney	Empire
Limited and to produce theatrical work on commission. The subsidiary 2011.A summary ofthe results ofthe subsidiary is set out below.						started trading		in February
							2022		2021
							f		f
Income							1,219,981		121,069
Cost ofsales							(874,262)		(93,371)
Administrative expenses							(277,412)		(36,170)
Profit/(Loss) on ordinary		activities before taxation					68,307		(8,472)
Corporation tax							66,807		5,905
Profit / (Loss) on ordinary		activities after		taxation			135,114		(2,567)
Amount gifted to Hackney		Empire Limited					(132,547)
Retained profit / (loss)							2,567		(2,567)
Turnover comprised:
Bar/Catering							204,560
Pantomime production							829,080		57,614
Location and filming fees							186,341		63,455
						1,219,981			121,069
Hackney Empire Limited	and	the subsidiary		have a group	VAT registration.		Any profit made		by the
ubsidiary is paid under gift		aid to Hackney	Empire Limited.
he assets and liabilities	ofthe subsidiary		were:
							2022		2021
							f		f
Current assets							295,557		119,631
Creditors: amounts falling		due within one		year			(295,556)		(122,197)
Net assets							1		(2,566)
Shareholder's funds							1		(2,566)

14	Debtors
				Group		Charity
				2022 f	2021 f	2022 f	2021 f
	Trade debtors			28,805	25,731	21,630	11,350
	Othertaxes				42,173		42,173
	Prepayments and accrued income			63,290	92,613	57,540	150,228
	Amounts owed by subsidiary undertaking					235,633	84,640
	Corporation tax			74,102	91,161
				166,197	251,678	314,804	288,391
15	Creditors: Amounts	falling due within one year
					Group	Charity
				2022 f	2021 f	2022 f	2021 f
	Trade creditors Boxoffice advance	seats		196,793 432,561	107,670 152,561	174,817 432,561	96,840 152,561
	Other taxes and social		security	71,620	8,569	97,829	13,748
	Other creditors and accruals			240,328	161,173	176,173	129,269
				941,302	429,973	881,380	392,418
16	Future financial commitments
	The group is committed		to the total future lease		payments:	2022	2021
						f	f
	Land and buildings: Within one year Between two and five		years			88,000 308,000	65,000 260,000
	Over 5years						32,500
						396,000	357,500
	This represents a 15-year lease over 117Wilton				Way	2022	2021
						f	f
	Office equipment: Within one year					7,089	4,436
	Between two and	five	years
						7,089	4,436

Freehold property
These funds represent resources held in the form		of building.
ACE Capital Work Funding towards acquisition or improvement of long-term					assets			such as equipment			or building.
Arts Council England-Culture Recovery Fund
Funding towards the costs outlined	in the application			submitted				to culture recovery fund- grants
programme.
Alter Ego Funding for creative work featuring	young artists	that		have	performed				over the	ten years
Backstage Trust
Funding towards the refurbishment	oftoilets at Hackney Empire
Children in Need
Funds towards LIMITLESS (Hackney	Village), working		with children and						young people		with learning			and
sensory disabilities.
Cockayne grant
Hackney Empire Post Covid-19 Capital Improvement			Programme.
Clarion Futures
Funding to support core costs and	Covid-19 measures.
Esmde Falrbairn Foundation Funding towards the costs ofstaffing and artistic		development					of new		models which		aim to increase artistic
ambition and artist and audience diversity
Greater London Authority
Funding towards Empire 2 rent as	a space for Creative			futures			programme.
Hackney Empire YOF Grant
Support towards creative learning	programme.
Hello Again Discounted tickets for Hackney residents for Panto 2021 and other programmes.
HMRC JRSGrant
Funding to cover a proportion ofthe salaries of furloughed						staff		during	the COVID-19 pandemic.
Impact Funds Funding towards acquisition or improvement of		long-term				assets such			as equipments		or buildings.			(Stage
lighting equipment)
lean Hodgklnson
Funding to support implementation	of Covid-19	measures.
LBH —Service agreement London Borough of Hackney supported the		Charity's				'Connecting			young	Hackney'		and	other		youth
involvement programmes.
Steel Charitable Trust
Support towards creative learning	programme.
Theatre Trust
Funding towards improvements to the water pumps				in the		theatre.
The Churchill Fellowship
Support towards specific needs ofyoung people/artists.

Charity and Group	Balance	Incoming	Resources	Transfers	Balance
	1April	resources	usecl	Between	31March
Capital	2020 f			funds f	2021 f
Freehold property Capital projects ACE Capital Works	145,883 7,706,371 210,463	120,535	(612,156) (26,099)		145,883 7,094,215 304,899
Revenue
Arts Council England- Culture Recovery Fund		534,226	(275,995)		258,231
Arts Council England- supplementary grant	3,436	1,000	(4,436)
Backstage Trust Children In Need Esmde Fairbairn Foundation	40,000 10,000 21,000	4,000 47,000	(10,000) (68,000)		40,000 4,000
ERNESi HECHT CHARITY FTO Yamana Peabody Goldsmiths Company Charity		2,500 2,000 3,000	(2,500) (2,000) (3,000)
Greater London Authority		10,000			10,000
Hackney Council HMRC JRSGrant Jean Hodgkinson London Community		300 166,732 5,300	(300) (166,732)		5,300
Response Fund LBH —Service agreement Theatre Trust Young Leaders on track festival	5,000 1,000	22,237 40,000	(22,237) (40,000) (1,000)		5,000
Youth Opportunity Fund		1,500	(1,500)
Total restricted funds	8,143,153	960,330	(1,235,955)		7,867,528

As at 31March 2022	As at 31March 2022
Charity and Group		Balance 1April	Incoming resources	Resources used	Transfers between	Balance 31March
		2021			funds	2022
		f			f	f
General funds		1,268,389	2,412,075	(2,280,212)	383,817	1,784,069
Total unrestricted	funds	1,268,389	2,412,075	(2,280,212)	383,817	1,784,069
As at 31March 2021
Charity and Group		Balance 1April	Incoming resources	Resources used	Transfers between	Balance 31March
		2020			funds	2021
		f				f
General funds		748,698	947,269	(427,578)		1,268,389
Total unrestricted	funds	748,698	947,267	(427,578)		1,268,389

s at 31Mar	ch 2022
		Tangible	Net current	Total
		Fixed assets	assets
		f	f
Group and	Charity
Restricted funds		7,145,282	(111,408)	7,033,874
Unrestricted	funds	82,177	1,701,892	1,784,069
		7,227,459	1,590,484	8,817,943

			Tangible	Net current	Tota I
			Fixed assets	liabilities
			f	f
Group and		Charity
Restricted	funds		7,761,006	106,522	7,867,528
Unrestricted		funds	39,391	1,228,998	1,268,389
			7,800,397	1,335,520	9,135,917

				2021	2020
				6	E
Fee charged	by HETL for producing		pantomime	829,080	57,614
Recharge of	costs by Charity			395,874	49,005
Profits donated to the Charity		by gift aid		132,547

			Unrestricted	Restricted	2021
			Funds	Funds	Total
			f	f	f
Income from:
Donations, gifts and		legacies	219,829		219,829
Grants receivable			648,350	960,330	1,608,680
Investment income			718		718
Income from trading		activities	64,575		64,575
income from charitable
activi ties
Income from running		theatre	7,892		7,892
Total income			941,364	960,330	1,901,694
Expenditure on:
Cast ofraising funds
Fundraising costs			35,021		35,021
Charitable activity
Cost ofoperation	of	the
theatre			392,557	1,235,955	1,628,512
Total expenditure			427,578	1,235,955	1,663,533
Net income / (expenditure)
for the year			513,786	(275,625)	238,161
Transfers between	funds
Corporation tax			5,905		5,905
Net movement in	funds		519,691	(275,625)	244,066
Opening fund balances as at 1April 2020			748,698	8,143,153	8,891,851
Closing fund balances as at 31March 2021			1,268,389	7,867,528	9,135,917