2023-03-31-accounts

Contents
		Page
	Legalandadministrativeinformation	1-2
	Vision,Mission& Values
	Trustees’report
	Independentauditors’report
	Statementoffinancialactivities	19
		20
	Balancesheet
	Cashflowstatement	21
	Notestothefinancialstatements	22 -39

FinanceCommittee	DavidAdams
	RogerWoolfe
	MatthewRoeser
	WilliamAtkinson
ExecutiveDirector/
CompanySecretary	JoHemmant
ArtisticDirector	YaminChoudury
Otherprincipalofficers
TechnicalManager	OthmanReid
HeadofProgramme	JaneWalsh/BeccaThomason
Companynumber	02060996
Charitynumber	1062085
Registeredoffice	HackneyEmpire
	291MareStreet
	London
	E81EJ
Auditors	SafferyLLP
	71QueenVictoriaStreet
	London
	EC4V4BE
Bankers	BarclaysBankPLC
	27SohoSquare
	London
	W1D3QR
Accountants	EPICInvestmentPartners
	AudreyHouse
	16-20ElyPlace
	London
	EC1N6SN
Connectedcharities	HackneyEmpireLimited	isconnectedwiththeHackneyEmpire
	PreservationTrust,which	ownsthetheatrebuilding.HackneyEmpire
	Limitedbenefitsfromthe	continuedoccupationofthispropertyata
	peppercornrental

Risk	Mitigation
Externalforces(recession/public spendingetc)impactonbusiness plan	Forwardplanningtoensurebestpossibleprogramme. Planmarketingcycletooptimiseincome. Ensuresecondaryspendoffercompetitive. Monitorcashflow.
	Successionplanning.
Lossofkeystaff	Documentationofsystemsplansandprojects. Trainingprogrammes.
	Noticeperiodsandhandovers.Recruitmentprocess.
	Ensuremaintenance'andoperationsmanualsaresufficient
	anduptodate. al
Buildingrelateddifficulties	Implementappropriatemaintenancestrategy.
	Makesuitablefinancialprovisionswherepossibletoensure
	effectivemaintenance.
Lackofcapacity& inadequateuse
ofresources	Inadequatesupervisionofprojects
	Staffover-stretched& lowmorale

	Notes	Unrestricted	Restricted		2023		2022
		Funds	funds		Total		Total
		£	£		£		£
Incomefrom:
Donations,gifts,andlegacies		292,483		-	292,483		120,955
Grantsreceivable	4	375,295	179,742		555,037		949,025
Investmentincome		911		-	911		135
Incomefromtradingactivities	5	707,485		-	707,485		366,934
Incomefromcharitable
activities
Incomefromrunningtheatre	6	1,796,586		-	1,796,586		1,481,950
Totalincome		3,172,760	179,742		3,352,502		2,918,999
Expenditureon:
Costofraisingfunds
Fundraisingcosts	7	45,320		-	45,320		49,924
Costoftradingactivities	8	401,765		-	401,765			-
Charitableactivity
Costofoperationofthe
theatre	9	2,449,675	766,172		3,215,847		3,253,855
Totalexpenditure		2,896,760	766,172		3,662,932		3,303,779
Netincome/(expenditure)		276,000	(586,430)		(310,430)		(384,780)
fortheyear					-
Transferbetweenfunds	20	111,336	(111,336)			-		-
Corporationtax	12	186,270		-	186,270		66,806
Netmovementinfunds		573,606	(697,766)		(124,160)		(317,974)
Openingfundbalances	19,20	1,784,069	7,033,874		8,817,943		9,135,917
Closingfundbalances	21	2,357,675	6,336,108		8,693,783		8,817,943

	Notes		Group			Charity
		2023		2022	2023	2022
		£		£	£	£
Fixedassets
Tangibleassets	13	6,764,328		7,227,459	6,764,328	7,227,459
Investments	14	-		-	1	1
SocialInvestments	15	50,000		-	50,000	-
		6,814,328		7,227,459	6,814,329	7,227,460
Currentassets
Debtors	16	359,713		166,197	710,743	314,803
Stock		7,693		8,075	-	-
Cashatbankandinhand		2,320,069		2,357,514	1,922,289	2,157,060
		2,687,475		2,531,786	2,633,032	2,471,863
Creditors:Amountsfalling
duewithinoneyear	17	(808,020)		(941,302)	(753,578)	(881,380)
Netcurrentassets		1,879,455		1,590,484	1,879,454	1,590,483
Totalassetslesscurrent
liabilities		8,693,783		8,817,943	8,693,783	8,817,943
Creditors:Amountsfalling
dueafteroneyear		-		-	-	-
		8,693,783		8,817,943	8,693,783	8,817,943
Representedby:
Restrictedfunds	19	6,336,108		7,033,874	6,336,108	7,033,874
Unrestrictedfunds:
DesignatedFunds		-		-	-	-
Generalfunds	20	2,357,675		1,784,069	2,357,675	1,784,069
Total		8,693,783		8,817,943	8,693,783	8,817,943

		2023			2022
			£	£
Reconciliationofnetincome/(expenditure)
tocashinflowfromoperatingactivities
Netincome/(expenditure)	(124,160)			(317,974)
Depreciation	678,683			667,256
Interestreceived	(911)			(135)
Inventory	382			(8,075)
Decrease/(increase)indebtors	(193,516)			85,480
(Decrease)/increaseincreditors
(excludingloansandfinanceleases)	(133,282)			511,330
Netcashinflowfromoperatingactivities			227,196		937,882
Cashflowsfrominvestingactivities
Interestreceived	911			135
PurchaseofInvestments	(50,000)
Paymentstoacquiretangiblefixedassets	(215,552)			(94,318)
			(264,641)		(94,183)
Changeincashandcashequivalents			(37,445)		843,699
Cashat1 April2022			2,357,514		1,513,815
Cashat31March2023			2,320,069		2,357,514

	Atstartofyear(2022)	Cash-flows	Atendofyear(2023)
	£	£	£
Cash	2,357,514	(37,445)	2,320,069
Total	2,357,514	(37,445)	2,320,069

4	Grantsreceivable
	Asat31March2023	Unrestricted	Restricted	Total
		Funds	Funds	2023
		£	£	£
	Corefunding
	ArtsCouncilEngland	375,295	-	375,295
	ProjectFunding
	ACEcapitalWork	-	1,992	1,992
	AlterEgo	-	2,750	2,750
	BackstageTrust	-	35,000	35,000
	ChildreninNeed	-	10,000	10,000
	EsméeFairbairnFoundation	-	23,000	23,000
	GoldsmithsCompanyCharity	-	3,000	3,000
	Austin& Hope	-	5,000	5,000
	TheatreTrust	-	5,000	5,000
	LondonBoroughofHackney	-	40,000	40,000
	FoyleFoundation	-	50,000	50,000
	TheDéylyCarteCharitableTrust	-	4,000	4,000
		375,295	179,742	555,037
	Asat31March2022	Unrestricted	Restricted	Total
		Funds	Funds	2022
		£	£	£
	Corefunding
	ArtsCouncilEngland	375,295	-	375,295
	ArtsCouncilEngland- CultureRecoveryFund	-	299,465	299,465
	ClarionFutures	-	5,000	5,000
	HMRCRSGrant	-	38,520	38,520
	ProjectFunding
	ArtsCouncilEngland- CapitalWorks	-	23,903	23,903
	AlterEgo	-	20,000	20,000
	ChildreninNeed	-	10,000	10,000
	Cockaynegrant	-	23,000	23,000
	EsméeFairbairnFoundation	-	35,000	35,000
	HackneyEmpireYOFGrant	-	5,000	5,000
	HelloAgain	-	15,000	15,000
	ImpactFunds	-	38,640	38,640
	LondonBoroughofHackney	-	40,000	40,000
	SteelCharitableTrust	-	11,000	11,000
	TheChurchillFellowship	-	9,202	9,202
		375,295	573,730	949,025

5	Incomefromtradingactivities
		2023	2022
		£	£
	Barsandcateringincome	314,406	187,620
	Locationandfilmingincome	306,294	146,895
	Otherincome	86,785	32,419
		707,485	366,934
6	Incomefromtheatreoperation
		2023	2022
		£	£
	Boxoffice	966,739	558,263
	Theatrehire	442,787	701,814
	Merchandise	55,322	28,204
	Bookingfees	75,114	48,665
	Theatrerecharges	250,311	143,572
	Otherincome	6,313	1,432
		1,796,586	1,481,950
7	Fundraisingcosts
		2023	2022
		£	£
	Staffcosts	40,077	41,515
	Fundraisingexpenses	5,243	8,409
		45,320	49,924

8	Costoftradingactivities
		Unrestricted		Restricted	Total
		Funds		Funds	Funds
					2023
		£		£	£
	Staffandstaff-relatedcosts		199,536		199,536
	Marketing		132,196		132,196
	LegalandProfessional		7,875		7,875
	Premisesandgeneralrunningcosts		8,791		8,791
	Overhead/administrationcosts		46,409		46,409
	Governancecosts		6,958		6,958
			401,765		401,765
9	Costsofoperationofthetheatre
		Unrestricted		Restricted	Total
		Funds		Funds	Funds
					2023
		£		£	£
	Staffandstaff-relatedcosts	1,012,594		51,000	1,063,594
	Depreciation	26,856		651,830	678,686
	Promoters/productioncosts	612,909		34,702	647,611
	Education	4,918		5,000	9,918
	Publicity	164,663		-	164,663
	Premisesandgeneralrunningcosts	540,771		13,640	554,411
	Overhead/administrativecosts	6,006		10,000	16,006
	Governancecosts	80,958		-	80,958
		2,449,675		766,172	3,215,847
		Unrestricted		Restricted	Total
		Funds		Funds	Funds
					2022
		£		£	£
	Staffandstaff-relatedcosts	802,884		200,678	1,003,562
	Depreciation	15,786		651,470	667,256
	Promoters/productioncosts	851,748		59,717	911,465
	Education	5,320		-	5,320
	Publicity	183,570		7,869	191,439
	Premisesandgeneralrunningcosts	340,453		70,557	411,010
	Overhead/administrativecosts	18,419		31,989	50,408
	Governancecosts	12,148		1,287	13,435
		2,230,328		1,023,567	3,253,855

10	Netincome/(expenditure)
	Netincome/(expenditure)isstatedaftercharging:
		2023	2022
		£	£
	Amountspayabletoauditorsforauditservices-currentyear	13,090	12,780
	Amountspayabletoauditors- otherservice
	Depreciation	678,682	667,256
	Operatingleasepayments	101,264	95,089
11	Peoplecost
		2023	2022
		£	£
	Aggregatestaffcostsaremadeupasfollows:
	Salariesandwages	1,065,457	860,565
	Socialsecuritycosts	85,862	64,892
	Pensioncosts	19,345	14,910
	Otherstaffcosts	8,553	11,350
	Subtotal	1,179,217	951,717
	ProfessionalFees*	123,990	93,320
	Total	1,303,207	1,045,037
	Fundraisingstaffcosts(note7)	40,077	41,515
	Staffandstaff-relatedcostsoftradingactivities(note8)	199,536	-
	Staffandstaff-relatedcostsofoperationofthetheatre(note9)	1,063,594	1,003,522
		1,303,207	1,045,037
	Thenumberofstaffreceivinga salaryover was:	2023	2022
		No.	No.
	£60,000- £69,999	1	1

	Restricted	Unrestricted	Restricted	Unrestricted
	Freehold	Theatre	Theatre	Fixtures	Total
	landand	improve-	improve-	fittingsand
	buildings	ments	ments	equipment
GroupandCharity	£	£	£	£	£
Cost
At1 April2022	222,758	-	18,615,482	669,704	19,507,944
Additions	-	162,543	15,659	37,350	215,552
At31March2023	222,758	162,543	18,631,141	707,054	19,723,496
Depreciation
At1 April2022	112,516	-	11,580,445	587,524	12,280,485
Chargefortheyear	4,455	6,196	647,375	20,657	678,683
At31March2023	116,971	6,196	12,227,820	608,181	12,959,168
Netbookvalue
At31March2023	105,787	156,347	6,403,321	98,873	6,764,328
At31March2022	110,242	-	7,035,037	82,180	7,227,459

14.	Investment	in	subsidiary
				2023	2022
				£	£
	Investment	in	subsidiaryundertaking	1	1

	2023	2022
	£	£
Income	1,672,674	1,219,981
Costofsales	(1,139,758)	(874,262)
Administrativeexpenses	(401,089)	(277,412)
Profit/ (Loss)onordinaryactivitiesbeforetaxation	131,827	68,307
Corporationtax	186,270	66,807
Profit/ (Loss)onordinaryactivitiesaftertaxation	318,097	135,114
AmountgiftedtoHackneyEmpireLimited	(318,097)	(132,547)
Retainedprofit/ (loss)	-	2,567
Turnovercomprised:
Bar/Catering	348,693	204,560
Pantomimeproduction	918,464	829,080
Locationandfilmingfees	405,517	186,341
	1,672,674	1,219,981

					2023	2022
					£	£
	FixedAsset				-	-
	Currentassets				660,631	295,557
	Inventory				7,693	-
	Creditors:amountsfallingduewithinoneyear				(668,323)	(295,556)
	Netassets				1	1
	Shareholder’sfunds				1	1
15	OtherInvestments
					2023	2022
					£	£
	PurchaseofInvestments				50,000	-
16	Debtors
			Group		Charity
		2023		2022	2023	2022
		£		£	£	£
	Trade debtors	51,591		28,805	45,066	21,630
	Othertaxes	-		-	-	-
	Prepaymentsandaccrued
	income	55,047		63,290	51,793	57,540
	Amountsowedbysubsidiary
	undertaking	-		-	613,884	235,633
	Corporationtax	253,075		74,102	-	-
		359,713		166,197	710,743	314,803

		Group		Charity
	2023	2022	2023		2022
	£	£	£		£
Tradecreditors	84,811	196,793	79,031		174,817
Boxofficeadvanceseats	370,547	432,561	370,547		432,561
Othertaxesandsocialsecurity	89,713	71,620	89,038		97,829
Othercreditorsandaccruals	262,949	240,328	214,962		176,173
	808,020	941,302	753,578		881,380
uturefinancialcommitments
egroupiscommittedtothetotalfuturelease		payments:
			2023		2022
			£		£
Landandbuildings:
Withinoneyear			88,000		88,000
Betweentwoandfiveyears			220,000		308,000
Over5 years			-		-
			308,000		396,000
srepresentsa 15-yearleaseover117Wilton		Way
			2023		2022
			£		£
Officeequipment:
Withinoneyear			13,706		7,089
Betweentwoandfiveyears			-		-
			13,706		7,089

Asat31March2023
Charity andGroup	Balance		Incoming	Resources	Transfers	Balance
	1April		resources	used	Between	31March
	2022				funds	2023
	£		£	£	£	£
Capital
Freeholdproperty	110,242		-	(4,455)	-	105,787
Capitalprojects	6,835,040			(647,375)	15,656	6,203,321
ACECapitalWorks		-	1,992	-	(1,992)	-
Revenue
AlterEgo		-	2,750	(2,750)	-	-
Austin& Hope		-	5,000	(5,000)	-	-
BackstageTrust		-	35,000	-	(35,000)	-
ChildrenInNeed	4,000		10,000	(4,000)	-	10,000
Cockaynegrant	23,000			(8,640)	(1,360)	13,000
EsméeFairbairn		-	23,000	(23,000)	-	-
Foundation
FoyleFoundation		-	50,000	-	(50,000)	-
GoldsmithsCompany		-	3,000	(3,000)	-	-
Charity
HackneyEmpireYOF	5,000		-	(5,000)	-	-
Grant
HelloAgain ImpactFunds	8,750 38,640		-	(8,750) -	- (38,640)	- -
LondonBoroughof			40,000	(40,000)	-	-
Hackney
TheatreTrust		-	5,000	-	-	-
TheChurchillFellowship	9,202		-	(9,202)	-	-
TheDoylyCarte		-	4,000	-	-	4,000
CharitableTrust
Totalrestrictedfunds	7,033,874		179,742	(766,172)	(111,336)	6,336,108

CharityandGroup	Balance		Incoming	Resources	Transfers	Balance
	1April		resources	used	Between	31March
	2021				funds	2022
	£		£	£	£	£
Capital
Freeholdproperty	145,883		-	(4,455)	(31,186)	110,242
Capitalprojects	7,094,215		-	(607,701)	348,526	6,835,040
ACECapitalWorks	304,899		23,903	(37,930)	(290,872)	-
Revenue
ArtsCouncilEngland-	258,231		299,465	(147,411)	(410,285)	-
CultureRecoveryFund
AlterEgo		-	20,000	(20,000)	-	-
BackstageTrust	40,000		-	(40,000)	-	-
ChildrenInNeed	4,000		10,000	(10,000)	-	4,000
Cockaynegrant		-	23,000	-	-	23,000
ClarionFutures		-	5,000	(5,000)
EsméeFairbairn		-	35,000	(35,000)	-	-
Foundation
GreaterLondon	10,000		-	(10,000)	-	-
Authority
HackneyEmpireYOF		-	5,000	-	-	5,000
Grant
HelloAgain		-	15,000	(6,250)	-	8,750
HMRCJRSGrant		-	38,520	(38,520)	-	-
ImpactFunds		-	38,640	-	-	38,640
JeanHodgkinson	5,300		-	(5,300)	-	-
LBH— Serviceagreement		-	40,000	(40,000)	-	-
SteelCharitableTrust		-	11,000	(11,000)	-	-
TheatreTrust	5,000		-	(5,000	-	-
TheChurchillFellowship		-	9,202	-	-	9,202
Totalrestrictedfunds	7,867,528		573,730	(1,023,567)	(383,817)	7,033,874

Asat31March2023
CharityandGroup	Balance	Incoming	Resources	Transfers	Balance
	1April	resources	used	between	31March
	2022	andTax		funds	2023
	£	£	£	£	£
Generalfunds	1,784,069	3,359,030	(2,896,760)	111,336	2,357,675
Totalunrestrictedfunds	1,784,069	3,359,030	(2,896,760)	111,336	2,357,675
Asat31March2022
CharityandGroup	Balance	Incoming	Resources	Transfers	Balance
	1April	resources	used	between	31March
	2021	andTax		funds	2022
	£	£	£	£	£
Generalfunds	1,268,389	2,412,075	(2,280,212)	383,817	1,784,069
Totalunrestrictedfunds	1,268,389	2,412,075	(2,280,212)	383,817	1,784,069

	Tangible		Netcurrent	Total
	Fixedassets	Investments	assets
	£	£	£	£
GroupandCharity
Restrictedfunds	6,509,108	-	(173,000)	6,336,108
Designatedfunds	-	-	-
Unrestrictedfunds	255,220	50,000	2,052,455	2,357,675
	6,764,328	50,000	1,879,455	8,693,783

	Tangible	Netcurrent	Total
	Fixedassets	liabilities
	£	£	£
GroupandCharity
Restrictedfunds	7,145,282	(111,408)	7,033,874
Unrestrictedfunds	82,177	1,701,892	1,784,069	—
	7,227,459	1,590,484	8,817,943

	2023	2022
	£	£
FeechargedbyHETLforproducingpantomime	918,464	829,080
RechargeofcostsbyCharity	544,246	395,874
ProfitsdonatedtotheCharitybygiftaid	318,097	132,547

23. Comparativeconsolidatedstatementoffinancialactivities	23. Comparativeconsolidatedstatementoffinancialactivities
	Unrestricted	Restricted	2022
	Funds	Funds	Total
	£	£	£
Incomefrom:
Donations,giftsandlegacies	120,955	-	120,955
Grantsreceivable	375,295	573,730	949,025
Investmentincome	135	-	135
Incomefromtradingactivities	366,934	-	366,934
Incomefromcharitableactivities	-	-	-
Incomefromrunningtheatre	1,481,950	-	1,481,950
Totalincome	2,345,269	573,730	2,918,999
Expenditureon:
Costofraisingfunds	-	-	~
Fundraisingcosts	49,924	-	49,924
Charitableactivity	-	-	-
Costofoperationofthetheatre	2,230,288	1,023,567	3,253,855
Totalexpenditure	2,280,212	1,023,567	3,303,779
Netincome/ (expenditure)
fortheyear	65,057	(449,837)	(384,780)
Transfersbetweenfunds	383,817	(383,817)	-
Corporationtax	66,806	-	66,806
Netmovementinfunds	515,680	(833,654)	(317,974)
Openingfundbalancesasat1 April2021	1,268,389	7,867,528	9,135,917
Closingfundbalancesasat31March2022	1,784,069	7,033,874	8,817,943