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2021-03-31-accounts

IROKO

Theatre Company

REPORT AND FINANCIAL STATEMENTS

FOR THE PERIOD ENDED

31[ST] MARCH 2021

Phone: 020 8522 1950 Mobile: 07802 346 022 E – Mail: info@irokotheatre.org.uk Website: www.irokotheatre.org.uk Registered Charity Number 1063604

IROKO

Theatre Company

REPORT & FINANCIAL STATEMENTS FOR PERIOD ENDED 31[ST] MARCH 2021

LEGAL AND ADMINISTRATION DETAILS AS AT 31st MARCH 2021

STATUS Registered as a Charity on 26[th ] July 1997 REGISTERED 158 Corporation Street OFFICE Stratford London E15 3DY CHARITY NO 1063604 HONORARY Bola Soneye-Thomas (Acting Chair) Gladys Kombe (Treasurer) Jenny Copsey (First Secretary) Dorothy Akwaboah (Second Secretary) Paul Adesanya Mike Waka Sam Otobo-Martins Paizah Malek-Neave

Education Finance Education Finance/ Local Authority Finance Home Office Social Services Arts/Disabilities

BANKERS NatWest Ground Floor Gredley House 1-11 Broadway Stratford London E15 4DX

AUDITORS Asiamah & Co Registered Auditors Unit 92 Battersea Business Centre 99/109 Lavender Hill London SW11 5QL

IROKO

Theatre Company

CHAIRPERSON’S STATEMENT FOR YEAR ENDING MARCH 31[ST] 2021

The Management Committee presents its report and the audited financial statements for the year ending 31st March 2021.

ACTIVITIES AND REVIEW

The main objectives of the organisation are to use the arts and, in particular but not exclusively African arts (storytelling, drama, music, dance, arts and crafts) as a vehicle to advance learning, skills, health and wellbeing of people of all backgrounds, age groups and abilities, particularly the disadvantaged, so that they can achieve their full potential, play an active role in their community and have an improved quality of life. To achieve this, we provide resources and hold training, exhibitions, workshops, and performances in a fun and informal learning environment.

During the financial year under review, IROKO Trustees paid due regard to Charity Commission’s guidance and continued to ensure that the public benefit of IROKO’s work was at the forefront of all activities the company undertook, including the review and assessment of potential risks to its services. In adherence to our aims and objectives, we used our core activities to enhance the education, learning, self-esteem, confidence, health, and wellbeing of participants from varied backgrounds and abilities.

In all the various venues and bookings mentioned, the aim was to use access and participation in the arts, especially African arts and culture, as a vehicle for enhancing education, learning, community cohesion and personal and social development of participants.

As reported in last year’s Accounts, things had been going well for IROKO during year ending 2020. However, things were to change dramatically towards the end of the last financial year due to the onset of the Covid pandemic and lockdown This meant that several confirmed bookings were cancelled and by the beginning of year ending 31st March 2021, all bookings and activities had stopped.

At the time of lockdown, IROKO was undertaking two major projects - The ‘Speaking without Voice’ project, an eighteen months’ research project funded by the National Lottery Heritage Fund, exploring Nigerian non-verbal communication systems, and ‘Forever Young’, a two-year project, funded by The Charity of Sir Richard Whittington, one of the Mercers’ Family of Charities, that used creative arts as vehicle to enhance the health and wellbeing of older people in the London Boroughs of Newham, Redbridge and Barking & Dagenham.

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IROKO

Theatre Company

CHAIRPERSON’S STATEMENT FOR YEAR ENDING MARCH 31[ST] 2021

It was a time of great uncertainty and anxiety, but to IROKO’s great relief, the National Lottery Heritage Fund launched The Heritage Emergency Fund which helped IROKO to cope through the pandemic as fixed outgoings were covered along with the costs associated with migrating some of our service delivery online. The funding also meant that IROKO could provide training for the Management Committee to review how to take the organisation forward in the light of the pandemic. This was a huge support indeed, as it enabled the company to keep afloat during the most difficult period of the pandemic and to deliver the remaining activities of the Speaking without Voice project as well as providing IROKO with the expertise to use our services online on other projects.

The Mercers Philanthropy were equally supportive, allowing IROKO flexibility to use the funding to deliver its charitable objectives, including moving the project delivery online. IROKO engaged the help of a Zoom expert who assisted IROKO in introducing the older people (in some cases, with their carers), staff and volunteers to some of the basic functions of the platform. Trial/training sessions were held and the Forever Young programme was reshaped. For example, the ‘Reminiscence’ workshops and the clay modelling workshops were replaced with ‘Wellness and Wellbeing’ and ‘Singing for Fun’ workshops, respectively. The drumming workshop was also reshaped, enabling participants to use body rhythms and whatever percussive instruments that they could find within their settings e.g., pots, pans, tabletops, etc.

The kind understanding of the Mercers’ Philanthropy to entirely lift restrictions on the agreed purpose of the grant as a result of the pandemic, meant that the budget was reallocated, and more workshops, especially the music for wellbeing workshops that were more in demand, were held.

However not all projects could be adapted in this way and three projects were delayed until restrictions were lifted, namely, the ‘IROKO Community Connections’ project funded by Clarion which was designed to enable IROKO carry out workshops at Keir Hardie Primary School and the local community. This project was reported in the 2020 Accounts but despite numerous attempts, it proved impossible to get the project off the ground due to Covid restrictions and it had still not started at the end of the financial year 2021.

IROKO was fortunate in securing funding from The Leathersellers’ Company to work in St Mary’s Lewisham CE Primary School carrying out storytelling workshops to support literacy in early years and KS1, particularly helping to overturn communication skills lost during the lockdown. Again, activities could not take place until after year ending 2021.

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IROKO

Theatre Company

CHAIRPERSON’S STATEMENT FOR YEAR ENDING MARCH 31[ST] 2021

Finally, another project which was delayed until after year ending 2021 was ‘The Beat Goes On’, supported through the Community Links Small Grants Fund. This project was to hold group music-making workshop activities in Canning Town South and the Keir Hardie Estate, as a way of improving the mental health and wellbeing amongst local residents.

Lifting of Covid restrictions during the summer and autumn, enabled IROKO to carry out some work in schools during the period. Other notable bookings during the pandemic included running storytelling performances online for Newham Libraries, taking part in the Newham Unlocked project and delivering seminars on African Theatre and Storytelling for Utopia Theatre Creative Hub.

Just before the end of the financial year, a grant was received from Newham Heritage Month to carry out ‘Stories of Africans Living in Newham’, a research project which would record, preserve and celebrate the stories of Africans who have made Newham their home and helped shape Newham’s economy and urban heritage.

The Accounts for year ending 2021 clearly show the impact of Covid-19, with earned income being lower than usual due to schools and other settings being unable to hold live events. However, despite the challenges brought about by the pandemic and subsequent Lockdowns, IROKO managed to adapt and deliver its work in one form or another and learnt new ways of delivering its services for the benefit of participants. For example, we discovered that online workshops can be very helpful for some older participants who cannot leave their homes during the winter months. There is no doubt that the company will continue to deliver some of its services in this way where there is an advantage in doing so.

IROKO survived year ending 2021, but this would simply not have been possible without the support of National Lottery Heritage Fund, Mercers Foundation and of course the Government furloughing scheme. IROKO is forever grateful for their help during this difficult time.

IROKO

Theatre Company

MANAGEMENT COMMITTEE’S REPORT FOR THE YEAR ENDED 31[ST ] MARCH 2021

The following served as members of the Management Committee during the period and up to the date of this report.

Bola Soneye-Thomas

Gladys Kombe Jenny Copsey Dorothy Akwaboah Paul Adesayna Sam Otobo-Martins

Mike Waka Paizah Malek-Neave

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IROKO

Theatre Company

APPRECIATION

IROKO Theatre Company extends its thanks to the following bodies and Trusts who helped and funded the Company through the year:

For supplying IROKO with funding to carry out the “Speaking without Voice” project studying pre-colonial Nigerian non-verbal communication systems. Activities will include workshops in schools, public showcases and training in recording and editing for young people.

• The Charity of Sir Richard Whittington, one of the Mercers’ Family of Charities

For supplying funding for IROKO to carry out workshops in Newham and Redbridge, with older people through the “Rhythmic Connections” project.

• Donations

Asiamah & Co were re-appointed as auditors

Approved by the Management Committee.

Signed ……………………. Position ……………………. Date ………………

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IROKO

Theatre Company

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Constitution of the organisation requires the Management Committee to prepare a Statement of Accounts for each financial year. The Accounts should give a true and fair view of the state of affairs of the Charity at the end of the financial year and of the incoming resources and application of the resources of the charity for the period. In preparing these accounts, the Trustees are expected to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the accounts comply with the regulation under S43 of the Charities Act 1993. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of error, fraud and other irregularities.

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IROKO

Theatre Company

INDEPENDENT EXAMINERS REPORT ON THE ACCOUNTS OF IROKO THEATRE COMPANY – CHARITY NO 1063604

Report to the Trustees of IROKO Theatre Company on the accounts for the year ended 31[st] March 2021 set out on pages 8 to 13.

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND AUDITORS

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under Section 114 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility to:

Examine the accounts under Section 145 of the Charities Act.

To follow the procedures laid down in the general directions given by the Charity Commission (under Section 145(5)(b) of the Charities Act, and

To state whether particular matters have come to my attention.

BASIS OF OPINION

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 these records. It also includes consideration of any unusual items or disclosures on the accounts and seeking explanations from the 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 accounts present a true and fair view and the report is limited to those matters set out in the statement below.

INDEPENDENT EXAMINER’S STATEMENT

In connection with my examination, no material matters have come to my attention which gives me cause to believe that in any material respect accounting records were not kept in accordance with Section 130 of the Charities Act or the accounts do not accord with the accounting records. I have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Kofi Asiamah FCCA Senior Auditor Asiamah & Co Chartered Certified Accountants & Registered Auditors Unit 92 Battersea Business Centre 9/109 Lavender Hill London SW11 5QL DATE: -7-

IROKO

Theatre Company

STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED

NOTES
Incoming Resources
Grants and Awards
9
Other income
10
Total Incoming Resources
Resources Expended
Cost of Activities
11
Total Resources Expended
Net In(out)Resources
Net Movement in Funds
Funds b/f 1.4.2020
Prior year adjustment
Funds c/f 31.3.2021		 31 March 2021
RESTRICTED
UNRESTRICTED
INCOME
INCOME
37,657
0
0
53,993		 31 March 2021
RESTRICTED
UNRESTRICTED
INCOME
INCOME
37,657
0
0
53,993		 31 March 2021
RESTRICTED
UNRESTRICTED
INCOME
INCOME
37,657
0
0
53,993		 2021
TOTAL
37,657
53,993		 2020
TOTAL
58,499
32,724
37,657 53,993 91,650 91,223
29,502 59,428 88,930 120,941
29,502 59,428 88,930 120,941
8,155
8,155
9,996
0		 -5,435
-5,435
5,503
0		 2,720
2,720
15,499
0		 -29,718
-29,718
45,217
0
18,151 68 18,219 15,499

8

IROKO Theatre Company

BALANCE SHEET

AS AT 31ST MARCH 2021

Tangible Fixed Assets
Current Assets
Debtors/Prepayment
Bank/Cash
Creditors
Amount falling due with one year
Net Current Assets
Total Assets
Funds
Restricted Funds
Unrestricted Funds		 NOTES
3
6
7
8
12
13		 2021
£

0
200
44,738		 2020
£
0
0
23,784
44,938
26,719		 23,784
8,285
18,219 15,499
18,219 15,499
18,151
68		 9,996
5,503
18,219 15,499

Signature Position Date

9

IROKO

Theatre Company

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2021

1 Accounting Policy

The accounts have been prepared under the historical cost convention and in accordance with SORP2 Accounting for Charities

Excemption has been taken from preparing a cash flow statement on the grounds that the charity is a small undertaking.

2 Incoming Resources

Incoming resources represent self-generated income due in the year including grants.

3 Tangible Fixed Assets

All fixed Assets are written off during the year of acquisition.

4 Employment Information

There were two and a half full time employees.

5 Reserve Policy

IROKO'S Reserve Policy takes into account the Charity's financial circumstances and other relevant factors. Consideration has been taken into account levels of income for the coming years and the reliability of current and future funding and earned income. The Reserves Policy is designed to ensure that the Charity's future activities are not put at risk. IROKO'S current reserves policy is to aim to maintain a balance of unrestricted funds equating to approximately three months running costs and this policy is kept under review and monitored throughout out the year.

10

IROKO Theatre Company

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED

31ST MARCH 2021

6 Debtors
Various clients
7 Bank/Cash
No.1 Reserve
8 Creditors
Amount falling due within one
year
Accruals
BBL
Audit Fees
Sundry
9 Income
Grants / Awards
NHLF Speaking without Voice
NHLF Covid Emergency Fund
The Leathersellers' Company
Newham Heritage Month
Community Links Small Fund
Total
10 Other Income
Workshops
Sundry Income
Bank Interest
Donation
Grand Total		 Restricted
£
4,797
14,800
8,770
6,790
2,500		 Unrestricted
£

0

0

0

0

0		 2021

200
5813
38,925		 2020
£
0
5,228
18556
44,738
23,784
4,784
4,310
20,000
0
950
950
985
3,025
26,719
8,285
Total
Total
2021
2020
£
£
4,797
38,920
14,800
0
8,770
0
6,790
0
2,500
0
**37,657 **
0		 37,657
38,920
21,860
31,504
0
629		 21,860
31,424
31,504
0
0
0
629
1,300
53,993 53,993
32,724

11

IROKO

Theatre Company

31ST MARCH 2021

11 Cost of Activities

Costumes/Material/Maintenance
Artistes /Other fees
Travel/Transport
Accountancy fees
Salary/Wages
Rent/Rates/Hall Hire
Volu.Exps
Telephone
Printing ,Postage/Statio
Training
Repairs/Renewals
Audit
Refreshment
Insurance
Advertising/PR
Photography/Website
Sundries
Library/Research
Bank Charges
Management and Supervision
Equipment Hire
Capital Expenditure
TOTAL
12 Unrestricted Funds
Bal.B/F
1.04.2020
5,503
13 Restricted Funds
Bal.B/F
1.04.2021
9,996		 Restricted
Unrestricted
2021
2020
Total
Total
0
130
130
2778
8,656
2,760
11,416
26,485
38
819
857
4,875
700
0
700
2,500
3,593
36,900
40,493
42,238
1,377
8,334
9,711
4,835
0
117
117
1,315
0
1,634
1,634
1,940
693
593
1,286
3,830
2,860
0
2,860
2,175
326
2,447
2,773
520
0
950
950
950
270
274
544
2,301
1,000
2,284
3,284
3,367
2,637
977
3,614
6,114
1,426
59
1,485
5,186
350
863
1,213
1,761
0
34
34
742
0
253
253
501
1,149
0
1,149
4,410
0
0
0
1,710
4,427
0
4,427
409
29,502
59,428
88,930120,942
Surplus/Deficit for
Year
Carried
Forward

-5,435
68
Surplus/Deficit for
Year
8,155
18,151
12