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2022-03-31-accounts

Company number: 03539597

Charity number: 1069617

Shoreditch Town Hall Trust

(A Charity Group) Audited Group Financial Statements and Report of the Trustees for the year ended 31 March 2022

Document Ref: CEDAL-CAR7X-Y56MA-JZIMA

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Shoreditch Town Hall Trust

(A Charity Group)

Index to the Financial Statements

for the year ended 31 March 2022

Page
Index to the Financial Statements 2
Report of the Trustees 3 - 10
Independent Auditors' Report 11 - 13
Consolidated Statement of Financial Activities 14
Charity Statement of Financial Activities 15
Consolidated and Charity Financial Positions 16
Group Accounting Policies 17 - 18
Notes to the Consolidated Accounts 19 - 26

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(A Charity Group)

Shoreditch Town Hall Trust

Report of the Trustees for the year ended 31 March 2022

The Trustees present their annual report and consolidated financial statements for Shoreditch Town Hall Trust and its subsidiaries for the year ended 31 March 2022. The financial statements comply with applicable accounting standards, the Companies Act 2006 and the Statement of Recommended Practice – Accounting and Reporting by Charities SORP FRS 102.

Reference and Administrative Details

Trustees

The Trustees of Shoreditch Town Hall Trust, who are also directors of the charity company for the purpose of company law, during the year to 31 March 2022 and since that date have been:

Acting Chair / Chair: Penny J Wrout
Vice Chair: Michael D Berg
Trustees: Heather D Clark Charrington
Tania B Harrison
Alexandra K M Jeffreys
Jesse Jones
Jonathan D McShane
William T C Hodgson (until May '21)
James T Pidgeon (until June '21)
Cllr Stephen Race
Landen Prescott-Brann (from May ’21)
Beth Byrne (from June ’21)
Secretary: James T Pidgeon (until June '21)
Beth Byrne (from June ’21)
Senior management team: James T Pidgeon (Director & Chief Executive) until June '21
Beth Byrne (Chief Executive Officer) from June '21
Grant O’Brien (Head of Venue & Events)
Ida Karimi (Head of Finance & Administration)
Eda Nacar (Head of Marketing & Communications)
Sam Evans (Head of Production)
Ellie Browning (Head of Cultural Programme) from Oct ‘21

Address and Registered Office:

Shoreditch Town Hall, 380 Old Street, London EC1V 9LT

Independent Auditors

Armstrong & Co, Chartered Accountants and Statutory Auditors, 4a Printing House Yard, Hackney Road, London E2 7PR.

Bankers

Natwest Bank PLC, Walthamstow Central Br, 204 High Street, London E17 7JH.

Solicitors

Colman Coyle, Wells House, 80 Upper Street, London, N1 0NU.

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Shoreditch Town Hall Trust

(A Charity Group)

Report of the Trustees for the year ended 31 March 2022

Structure, governance and management

Governing Document

Shoreditch Town Hall Trust is a company limited by guarantee incorporated on 27 March 1998 and a registered charity governed by its Memorandum and Articles of Association.

Appointment of Trustees

The directors of the charitable company (“the Trust”) are Trustees for the purpose of charity law and throughout this report are collectively referred to as the Trustees. Nominations for new Trustees are put forward following internal consultation and/or external advertisement, and membership is determined against the Trust’s Governance Policy and the requirements of the Trust on a strictly equal opportunities basis. Potential new Trustees are given the opportunity to observe a meeting of the Board of Trustees in advance of their appointment being confirmed.

Each Trustee is initially appointed for a period of three years. Up to two Trustees may be nominated by Hackney Borough Council.

Trustee induction and training

New Trustees meet with the Chair and CEO who brief them on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision-making processes, the strategic plan, and the recent financial performance of the charity. New Trustees also have the opportunity to meet with members of the Senior Management Team as part of their induction.

All Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.

Organisation

The day-to-day operation of the Trust’s affairs is delegated to the CEO who works with a core team of up to 14 full - and parttime - staff. Financial matters are reported on a monthly basis presented in management accounts with fortnightly updates with the Chair of the Finance, Audit & Risk sub-committee. A Finance, Audit & Risk sub-committee was set up in June 2021 to meet quarterly, a month before each full Board meeting. Four such meetings were held in the year ended 31 March 2022. Strategic and policy matters are presented to, and discussed with, the full board at quarterly Trustee meetings. Reports on cultural programming, learning and community engagement activity, human resources, finance, capital and building development, health and safety issues, and other matters arising are also presented. Four such meetings were held in the year ended 31 March 2022.

Risk Management

The Trustees regularly review major risks to which the Trust is exposed, through the presentation of a Risk Register & Heat Map at every Finance, Audit & Risk sub-committee meeting. The Trustees are satisfied that there are adequate systems to mitigate risks as identified.

Reserves Policy

In accordance with Charity Commission guidelines, Trustees keep reserves under review in order to meet statutory responsibilities and in accordance with its aims of fundraising towards further capital improvements. Reserves have been invested in higher interest accounts at NatWest, which are kept under review to maximise interest earned.

The Trust aims to maintain two Reserve Funds:

  1. A business continuity reserve of between £130,000 - £180,000, which equates to approximately 8 weeks of turnover.

  2. A designated reserve of approximately £20,000 for unexpected capital maintenance.

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Shoreditch Town Hall Trust

(A Charity Group)

Report of the Trustees for the year ended 31 March 2022

Strategy 2021-25

Our Vision

To be a leading venue of pioneering contemporary culture at the centre of civic life in Shoreditch and East London.

Our Mission

To develop our landmark building and animate it with an adventurous programme of cultural and live events, harnessing the Town Hall’s history as home for its community.

Our Driving Values

We believe that collaborating with people from all backgrounds is the key to success. We value open, transparent and robust relationships, expecting all collaborators to share our driving values. We aim to champion local life, nurturing new and existing relationships with residents, businesses, schools and community groups. We collaborate creatively: enabling a rich learning and development environment to artists that celebrates the journey as much as the end result.

Welcome:

Annual Review 2021/22

The Covid-19 pandemic continued to affect the organisation and its activities throughout the 21/22 year markedly slowing recovery and impacting earned income. Despite the roll-out of vaccine which enabled some of the most severe government guidelines for social distancing and testing to be gradually lifted from July 2021, further outbreaks of the virus meant that event and audience bookings were severely diminished.

The building remained closed to the public for the majority of April-September, with the exception of a limited, socially distanced run in the Assembly Hall in June. Many staff still on furlough or continuing provision to work from home with access just to building tenants and operational staff to maintain the building. A gradual return to some limited events following strict safety guidelines began in September working towards a fuller programme late Autumn. Unfortunately an outbreak of a new Omicrom variant, spread through London extremely quickly from December, cancelling commercial hires and eventually forcing us to close the building early ahead of the festive break on the 17th December until 7th January.

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(A Charity Group)

Shoreditch Town Hall Trust

Report of the Trustees for the year ended 31 March 2022

Business began to pick up again by the end of the final quarter but audience appetite continued to be affected with slow sales across the majority of the cultural programme until later Spring 2022.

As a non-regularly funded charity that relies on 100% earned income, this posed considerable risk to the business operation and would have fully depleted reserves had we not continued stringent financial controls and successfully applying for vital external support from the DCMS Culture Recovery Fund Rounds 2 & 3 (totalling £332k), £33.5K from the Coronavirus Job Retention Scheme (furlough), and £48k of discretionary lockdown grants (administered by Hackney Council). These various emergency funding routes offset the shortfall in our earned income and enabled us to prevent more extreme measures such as redundancies.

In June 2021, there was a handover of senior leadership when the outgoing Director & Chief Executive, James Pidgeon, was replaced by the incoming Chief Executive Officer, Beth Byrne. The senior team restructured to allow for the new role of Head of Cultural Programme, for which Ellie Browning was appointed in October 2021. The recruitment freeze (which had reduced core staff to 10 from the pre-pandemic levels of 14) was gradually lifted to enable key operational appointments to be made, leaving the end of the year core staff team of 12.

Our total funds position at the end of the financial year sits at £341,407 (of which £324,470 is Unrestricted and £16,937 is Restricted reserves).

CULTURAL & COMMUNITY PROGRAMME

Despite the ongoing impact of the pandemic to the programme, we engaged audiences in person and online of 5,575 (demonstrating more than 10% growth on the previous year) and featured 28 different events spanning shows, workshops, dances, family discos, one-nighters including cabaret and talks.

In 2021/22, we:

★★★★ “ Moving tribute to the grit and skill of nurses that’s told with warmth and righteous anger ” - The Stage

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Shoreditch Town Hall Trust

(A Charity Group)

Report of the Trustees for the year ended 31 March 2022

★★★★ “A freewheeling exploration of cultural diversity” - The Guardian

Over the course of the year, Shoreditch Town Hall

As a result of the continued Covid-19 pandemic, all live programme was affected by either reduced capacities; audience testing or demonstration of covid-19 passes; postponement; cancellation; or pivoting to online recordings. Despite real financial pressures, the Town Hall paid all independent, freelance artists agreed fees and passed on donations from third parties.

TALENT DEVELOPMENT

Where possible, and informed by Government guidelines and industry best practice relating to Covid-19, the Town Hall continued to offer residency space, producing support, mentoring and advice to a number of artists throughout the year.

In 2021/22 we provided in-kind residency, workshop and programming space to over 150 artists from individuals, companies and community groups (despite the pandemic related restrictions). These included Bric a Brac, Claire Gaydon, Emma Blackman Productions, House of Absolute & Philharmonia Orchestra, Jack Holden, In Bed With My Brother, Frankie Thompson, Jennifer Tang, John Elliot, New Earth Theatre, The Old Vic 12, Olivia Norris, The Pappy Show, Paul O’Donnell, Stumble Trip Theatre, Tamara Micner & Heather Ralph, The Wardrobe Ensemble, ThisEgg, TalkShow, Victor Esses, WoLab, Anne Langford, Stu Barter, Amelia Stubberfield, Bricks, Ephemeral Ensemble, Homos and Houmous, and Nick Cassenbaum.

In September 2021 we announced our commitment to making permanent our Made in Shoreditch: Artist Workspace initiative, further supporting artist development and the creation of new live performance. Over 200 free desk space slots per year are now permanently available to artists.

We continued to play an active role in the London-based STAMP (Supporting Theatre Artists and Makers of Performance) network of over 40 venues and organisations now scheduled to take place in person Autumn 2022.

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(A Charity Group)

Shoreditch Town Hall Trust

Report of the Trustees for the year ended 31 March 2022

EVENT HIRES & COMMERCIAL INCOME DEVELOPMENT

Earned hire income from commercial events was £108,865 this year which more than doubled the figure from the previous year. However, it still equates to 20% of the equivalent (pre-pandemic) figure achieved in 2019/20. This figure, and future targets, relate solely to Commercial event hire income as any Cultural hire income now sits under the cost centre for the Head of Cultural Programme.

This demonstrates that, whilst the year did offer improvement on the first year of the pandemic, the recovery is still slow and volatile. Two fairly large scale live event hires were either cancelled or rescheduled due to increase in Covid-19 cases in December 2021. Consumer confidence remained low for the majority of the year, bookings were not confirmed until very late in the day (understandable given that several then cancelled) and a number of high-value, repeat-booking clients (including Alexander McQueen sample sales) are yet to return.

TOWN HALL TENANTS

The Town Hall continued to lease office and restaurant space in the building to six tenants throughout 2021/22, namely:

We remained supportive of tenants impacted by the Covid-19 pandemic during the year, offering bespoke payment plans where possible.

We took the opportunity of the reduction in demand for external tenancies to consolidate our administrative staff office space and move into the vacant upstairs office. This allowed us to simultaneously set up permanent video-conference equipment to better support hybrid meetings. This also frees up downstairs office space to re-purpose into the Artist WorkSpace programme and for the final part of the Welcome Project capital development. One office space remains vacant at the end of the financial year.

CAPITAL & BUILDING DEVELOPMENT

Work continued on the Town Hall’s next major building development project focusing on opening up the building, improving perception, and removing physical and psychological barriers to better engage visitors, and strengthen the Town Hall’s civic responsibility for communities in Shoreditch and beyond.

Phase I of the project (the cleaning of the building’s external façade for the first time in its 155-year history) took place in April 2021 using a restricted grant from the Backstage Trust. Once this stage of works was completed and settled in September 2021, the remainder of the restricted grant (£40,119) was formally released into unrestricted reserves by the grant issuer.

Planning permission for the final phases of the project was agreed in December 2021: to improve external accessibility with a ramp and outdoor lighting and advertising; and to convert interior rooms into a permanent cafe/bar. Planning permission is granted to commence within a period of 3 years.

All capital and building development activity continues to be supported by Reed Watts Architects.

Cyclical maintenance and refurbishment works continued throughout the financial year.

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Shoreditch Town Hall Trust

(A Charity Group)

Report of the Trustees for the year ended 31 March 2022

A NOTE ON THE CORONAVIRUS (COVID-19) PANDEMIC

Trustees remain very aware of the continued uncertainties relating to the Covid-19 pandemic, and the ongoing, long-term impact this will have on the Town Hall. The Town Hall has taken prudent steps to ensure financial stability and long-term viability, including significant cost-cutting across the organisation, diversification of income streams, reduction of risk across the cultural programme, continued use of the Government’s Coronavirus Job Retention Scheme (furlough), and securing all available grants from the DCMS Culture Recovery Fund. Acknowledgement and thanks to all staff members (both permanent and casual) for their continued commitment to the organisation and its future whilst often in challenging circumstances are recorded by Trustees and thanks to the leadership team (both past and present) in helping to steer the business during difficult times without losing sight of the organisation’s driving values.

Whilst there is no doubt that further challenges lie ahead in future years of slow and, often, volatile recovery, Trustees believe that the Town Hall has adequate resources to continue operating for at least the next 12 months.

Statement of Public Benefit

Shoreditch Town Hall has continued to invest in a significant historic and community asset, a Grade II listed building previously at risk, to the tune of £2.4m since 2013. These works have made the building more physically accessible than at any point in its history and allowed it to operate freely as a place of public entertainment, enabling over 70,000 people – many of whom are first-time visitors – to enjoy and participate in a world-class cultural, live events and community programme in Hackney that prides itself on accessibility, inclusivity and quality. None of these audiences, participants and community groups were previously engaging with the building in the way that they are now, simply because the artistic and community programmes we now offer never used to exist. This is creating a significant legacy in terms of long-term engagement with the building, creative learning and cultural understanding, social cohesion, and civic pride.

Trustees' Responsibilities in relation to the Financial Statements

The Trustees (who are also directors of Shoreditch Town Hall Trust for the purposes of company law) are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Practice) as modified by the Financial Reporting Standard 102 for Smaller Entities (effective January 2016).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and the group, and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006 and charity law and regulations. They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention of fraud and other irregularities.

Statement as to disclosure of information to auditors

In so far as the Trustees are aware, there is no relevant audit information of which the charitable company's auditor is unaware, and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

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(A Charity Group)

Shoreditch Town Hall Trust

Report of the Trustees for the year ended 31 March 2022

Auditor

The Trustees have determined that the charitable company be audited under the Companies Act 2006. The charitable company is not required to be audited under charities legislation for the year ended 31st March 2022.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The Trustees acknowledge and confirm their responsibilities for preparing the financial statements and providing appropriate information to the auditors as detailed above.

This report was approved by the Board of Trustees and signed on their behalf on 19 October 2022 by:

Penny J Wrout Chair, Trustee

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(A Charity Group)

AT Shoreditch Town Hall Trust

Independent Auditor's Report to the Members of Shoreditch Town Hall Trust

We have audited the group and parent company financial statements (the 'financial statements') of Shoreditch Town Hall Trust for the year ended 31 March 2022 which comprise the Group and Charity Statement of Financial Activities, the Group and Charity Balance Sheets and the related notes which have been prepared in accordance with the accounting policies set out therein. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and the provisions available for small entities, in the circumstances set out in Note 2 to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information in the annual report, but does not include the financial statements and our report of the auditors thereon. The trustees are responsible for the other information.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

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(A Charity Group)

AT Shoreditch Town Hall Trust

Independent Auditor's Report to the Members of Shoreditch Town Hall Trust

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and parent company and their environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the trustees' report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities set out on page 6, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group and parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

These include the Companies Act 2006, the Charities Act 2011, FRS 102, the Charities SORP, GDPR and COVID-19 support schemes legislation. The charitable company operates locally and is not significantly impacted by international law or regulations.

Taxation law and regulations applicable to charities also apply to the group and parent charitable company but it is not involved in any complex matters that increase the risk of non-compliance.

Each area of audit review includes in the audit documentation reference to potential non-compliance and awareness of potential non-compliance is embedded in our audit procedures.

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(A Charity Group)

AT Shoreditch Town Hall Trust

Independent Auditor's Report to the Members of Shoreditch Town Hall Trust

Our pre-audit questionnaire specifically makes enquires about fraud and this is supported by audit documentation. We also review Board minutes to identify any matters of concern or risk. None was identified.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities . This description forms part of our auditor's report.

Use of our report

This report is made solely to the group and parent charitable company's members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Anthony Armstrong FCA (Senior Statutory Auditor) for and on behalf of Armstrong & Co Chartered Accountants & Statutory Auditors

4a Printing House Yard Hackney Road London E2 7PR

19 October 2022

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Shoreditch Town Hall Trust

(A Charity Group)

Consolidated Statement of Financial Activities

incorporating an income and expenditure account

for the year ended 31 March 2022

Notes
Income from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investments
6
Other
7
Total income
Expenditure on:
Raising funds
8
Charitable activities
9
Total expenditure
Net operating income / (expenditure)
Transfers between funds
Restricted to general
24
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 2022
2021
Total Funds
Total Funds
£
£
-
-
469,215
579,521
487,922
208,961
55
179
6,628
248
963,820
788,909
19,005
27,801
988,707
724,955
1,007,712
752,756
(43,892)
36,153
-
-
(43,892)
36,153
378,812
342,659
334,920
378,812
Unrestricted
Funds		 Restricted
Funds
£
-
435,708
487,922
55
6,628		 £
-
33,507
-
-
-
930,313 33,507
19,005
845,319		 -
143,388
864,324 143,388
65,989
40,119		 (109,881)
(40,119)
106,108
211,875		 (150,000)
166,937
317,983 16,937

The statement of financial activities incorporates an income and expenditure account. The accompanying accounting policies and notes form an integral part of these financial statements.

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(A Charity Company Limited by Guarantee, company number 03539597)

Shoreditch Town Hall Trust

Charity Statement of Financial Activities

incorporating the income and expenditure account

for the year ended 31 March 2022

Notes
Income from:
Donations and legacies
Charitable activities
Other trading activities
Investments
Other income
Expenditure on:
Raising funds
Charitable activities
Net income / (expenditure)
Transfers between funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
Net movement in funds		 2022
2021
Total Funds
Total Funds
£
£
-
33,834
469,062
579,351
474,150#
206,815
55#
179
6,628#
248
949,895
820,427
12,007
4,030
1,011,372
741,396
1,023,379
745,426
(73,484)
75,001
-
-
(73,484)
75,001
414,891
339,890
341,407
414,891
Unrestricted
Funds		 Restricted
Funds
£
-
435,555
474,150
55
6,628		 £
-
33,507
-
-
-
916,388 33,507
12,007
867,984		 -
143,388
879,991 143,388
36,397
40,119		 (109,881)
(40,119)
76,516
247,954		 (150,000)
166,937
324,470 16,937

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Shoreditch Town Hall Trust

(A Charity Company Limited by Guarantee, company number 03539597)

Consolidated and Charity Financial Positions

as at 31 March 2022

as at 31 March 2022
Notes
Fixed assets
Tangible fixed assets
11,12
Investments
13,14
Current assets
Stocks
15
Debtors
16
Cash at bank and In hand
21
Creditors: falling due within one year
17
Net current assets/(liabilities)
Net assets
The funds of the charity
Unrestricted funds
Restricted funds
22
Total charity funds
18,20		 The Group The Charity
2022 2021
£
1,541
-
1,541
4,124
54,807
608,076
667,007
289,736
377,271
378,812
211,875
166,937
378,812		 2022 2021
£
10,082
-
10,082
3,620
149,106
558,218
710,944
386,106
324,838
334,920
317,983
16,937
334,920		 £
10,082
4
10,086
-
158,709
552,054
710,763
379,442
331,321
341,407
324,470
16,937
341,407		 £
1,541
4
1,545
-
123,721
572,342
696,063
282,717
413,346
414,891
247,954
166,937
414,891

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the FRS 102.

This report was approved by the Board of Trustees and signed on their behalf on 19 October 2022 by:

Penny J Wrout Chair, Trustee

The notes on pages 17 to 26 form part of these accounts.

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Shoreditch Town Hall Trust

(A Charity Group)

Group Accounting Policies

for the year ended 31 March 2022

a. Accounting Convention

The financial statements have been prepared under the historical cost convention and in accordance with:

a) Applicable UK accounting standards, including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)".

b) Accounting 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 (FRS 102) (effective 1 January 2015) - (Charities SORP FRS 102);

c) the Companies Act 2006.

d) the Charities Act 2011.

b. Group financial statements

These financial statements consolidate the results of the charity and its wholly-owned subsidiaries, Shoreditch Town Hall Trading Limited and Ditch Productions Limited on a line by line basis.

These consolidated accounts include the trading accounts, assets and liabilities of the group subsidiary companies.

c. Public benefit entity

The charity meets the defination of a public benefit entity under FRS 102.

d. Going concern

The group's income is derived from both non self-generated sources, such as grants, service level agreements and other governmental or NGO sources and self-generated sources, such as bar income, hire income etc. The trustees consider that there are no material uncertainties about the likelihood that this support will continue, and accordingly, the accounts have been prepared on a going concern basis.

e. Restricted Funds

Restricted funds are to be used for specified purposes as laid down by the funder. Direct and support expenditure which meets these criteria are identified to the fund together with a fair allocation of other costs.

f. Commercial trading activities

Income from commercial trading activities (bar income, tickets sales etc.) is included in the period in which the group is entitled to receipt. Incoming resources include the trading receipts of the subsidiary company, excluding vat.

g. Income recognition

Income is recognised when group companies have a contractual or other right to its receipt, it is probable that the income will be received and that the amount can be measured reliably. Income with conditions attached to its receipt is recognised when those conditions have been fulfilled.

h. Revenue grants

Revenue grants are credited to incoming resources on the earlier of when they are received or when they are due. If they relate to a specified future period they are deferred.

i. Deferred income

Income received which is contractually or otherwise not expendable until a future period is deferred.

j. Allocation of costs

Costs are allocated directly to projects where they can be identified as relating solely to that project. Other costs are allocated between the funds based on staff time spent on the fund activities or other appropriate criteria.

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Shoreditch Town Hall Trust

(A Charity Group)

Group Accounting Policies

for the year ended 31 March 2022

k. Governance costs

These are costs associated with the governance arrangements of the charity which relate to the general running of the charity as opposed to those costs associated with fundraising or charitable activity.

l. Operating Lease

The building occupied by the charity, is rented from the London Borough of Hackney. Rents payable under operating leases are charged to the Statement of Financial Activities as incurred over the term of the lease(s).

m. Tangible Fixed Assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Technical equipment - 20% on cost
Fixtures & fittings - 10% on cost
Office equipment - 25% on cost

Items of fixtures & fittings are only capitalised where the purchase price exceeds £10,000. Items of equipment are only capitalised where the purchase price exceeds £1,000. Items of technical equipment are only capitalised where the purchase price exceeds £2,000.

n. Investments

Investments in subsidiaries are held at cost.

o. Stocks

Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

p. Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Page 18

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Page 18 of 26

Shoreditch Town Hall Trust

(A Charity Group)

Notes to the Consolidated Accounts

for the year ended 31 March 2022

1 Incoming resources

The incoming resources and surplus are attributable to the principal activities of the charitable group

2
Net incoming resources
Net incoming resources are stated after charging:
Auditor's fees - audit services
Auditor's fees - other services
Depreciation - owned assets
Trustees' emoluments		 2022
2021
£
£
7,600
7,600
3,220
1,750
2,343
1,540
-
-
Group		 2022
2021
£
£
1,850
1,850
3,220
1,750
2,343
1,540
-
-
Charity		 2022
2021
£
£
1,850
1,850
3,220
1,750
2,343
1,540
-
-
Charity
-

Emoluments include salaries, fees, bonuses, expense allowances and estimated non-cash benefits receivable. All trustees serve in a voluntary capacity and do not receive payment for their services.

3 FRC Ethical Standard - Provisions available for Audits of Small Entities

In common with many other charties of our size and nature we use our auditors to assist with the preparation of the financial statements and to provide advice relating to statutory and regulatory compliance.

4
5
6		 Charitable activities
Grant income
Ticket & community income
Ticket booking fees
Merchandise sales
Ditch Productions Limited
Ticket sales
Other trading activities
Office rentals & service charges
Hall & room hires
Event staff & security costs recovery
Shoreditch Town Hall Trading Limited
Bar income
Investments
Bank interest received		 Unrestricted
£
375,707
56,678
3,085
85
153
435,708
Unrestricted
£
206,871
248,217
19,062
13,772
487,922
Unrestricted
£
55
55		 Restricted
£
33,507
-
-
-
-
33,507
Restricted
£
-
-
-
-
-
Restricted
£
-
-		 2022
Total
£
409,214
56,678
3,085
85
153
469,215
2022
Total
£
206,871
248,217
19,062
13,772
487,922
2022
Total
£
55
55		 2021
Total
£
564,796
11,335
520
2,700
170
579,521
2021
Total
£
127,971
75,414
3,430
2,146
208,961
2021
Total
£
179
179

Page 19

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Page 19 of 26

Shoreditch Town Hall Trust

(A Charity Group)

Notes to the Consolidated Accounts

for the year ended 31 March 2022

7
8
9
10		 Other
Miscellaneous income
Raising funds
Misc hire recharge costs
Graphic & website design
Advertising & promotion
Shoreditch Town Hall Trading Ltd
Purchases
Other costs
Ditch Productions Limited
Production costs
Other costs
Charitable activities
Capital work expenditure
Community project expenses
Cultural programme costs
Premises operating costs
Staff costs
Box office staff
Repairs, maintenance & office administration
Board meetings
Auditors fees
Staff costs
Staff salaries
Staff social security
Staff pensions		 Unrestricted
Restricted
£
£
6,628
-
6,628
-
Unrestricted
Restricted
£
£
6,253
-
5,000
-
754
-
6,046
-
557
-
314
-
81
-
19,005
-
Unrestricted
Restricted
£
£
-
109,881
120
-
106,170
-
163,716
-
426,753
33,507
11,114
-
126,521
-
105
-
10,820
-
845,319
143,388
2022
2021
£
£
420,215
374,471
32,337
22,315
7,708
6,529
460,260
403,315
Group		 2022
2021
Total
Total
£
£
6,628
248
6,628
248
2022
2021
Total
Total
£
£
6,253
80
5,000
2,350
754
1,600
6,046
3,852
557
58
314
19,815
81
46
19,005
27,801
2022
2021
Total
Total
£
£
109,881
2,670
120
6,039
106,170
55,350
163,716
137,725
460,260
403,315
11,114
8,888
126,521
101,598
105
20
10,820
9,350
988,707
724,955
2022
2021
£
£
416,800
374,471
32,337
22,315
7,708
6,529
456,845
403,315
Charity		 2021
Total
£
248
248
2021
Total
£
80
2,350
1,600
3,852
58
19,815
46
27,801
2021
Total
£
2,670
6,039
55,350
137,725
403,315
8,888
101,598
20
9,350
724,955

No remuneration was paid to any Trustee or their associates for services as a trustee during the year ended 31 March 2022 nor at 31 March 2021.

Employees paid in excess of £60,000 during the current year
and previous year:
Average number of (non-casual) employees during the year was:		 None
14		 None
12		 None
14		 None
12

Page 20

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Page 20 of 26

Shoreditch Town Hall Trust

(A Charity Group)

Notes to the Consolidated Accounts

for the year ended 31 March 2022

11
12
13		 Tangible fixed assets: Group
Heritage
assets
Gallery
Technical
equipment
Fixtures &
fittings
£
£
£
£
Cost
As at 1 April 2021
-
-
11,000
15,401
Additions
-
-
6,878
-
As at 31 March 2022
-
-
17,878
15,401
Depreciation
As at 1 April 2021
-
-
11,000
13,860
Charge for the year
-
-
802
1,541
As at 31 March 2022
-
-
11,802
15,401
Net book value
As at 31 March 2022
-
-
6,076
-
As at 31 March 2021
-
-
-
1,541
Tangible fixed assets: Charity
Tangible 1
Tangible 2
Technical
equipment
Fixtures &
fittings
£
£
£
£
Cost
As at 1 April 2021
-
-
11,000
15,401
Additions
-
-
6,878
-
As at 31 March 2022
-
-
17,878
15,401
Depreciation
As at 1 April 2021
-
-
11,000
13,860
Charge for the year
-
-
802
1,541
As at 31 March 2022
-
-
11,802
15,401
Net book value
As at 31 March 2022
-
-
6,076
-
As at 31 March 2021
-
-
-
1,541
Investments
2022
2021
£
£
Market Value
As at 1 April 2020
-
-
As at 31 March 2021
-
-
Subsidairy undertakings
Investments in subsidiaries are held at cost.
Group		 Tangible fixed assets: Group
Heritage
assets
Gallery
Technical
equipment
Fixtures &
fittings
£
£
£
£
Cost
As at 1 April 2021
-
-
11,000
15,401
Additions
-
-
6,878
-
As at 31 March 2022
-
-
17,878
15,401
Depreciation
As at 1 April 2021
-
-
11,000
13,860
Charge for the year
-
-
802
1,541
As at 31 March 2022
-
-
11,802
15,401
Net book value
As at 31 March 2022
-
-
6,076
-
As at 31 March 2021
-
-
-
1,541
Tangible fixed assets: Charity
Tangible 1
Tangible 2
Technical
equipment
Fixtures &
fittings
£
£
£
£
Cost
As at 1 April 2021
-
-
11,000
15,401
Additions
-
-
6,878
-
As at 31 March 2022
-
-
17,878
15,401
Depreciation
As at 1 April 2021
-
-
11,000
13,860
Charge for the year
-
-
802
1,541
As at 31 March 2022
-
-
11,802
15,401
Net book value
As at 31 March 2022
-
-
6,076
-
As at 31 March 2021
-
-
-
1,541
Investments
2022
2021
£
£
Market Value
As at 1 April 2020
-
-
As at 31 March 2021
-
-
Subsidairy undertakings
Investments in subsidiaries are held at cost.
Group		 Office
equipment
Total
£
£
15,125
41,526
4,006
10,884
19,131
52,410
15,125
39,985
-
2,343
15,125
42,328
4,006
10,082
-
1,541
Office
equipment
Total
£
£
15,125
41,526
4,006
10,884
19,131
52,410
15,125
39,985
-
2,343
15,125
42,328
4,006
10,082
-
1,541
2022
2021
£
£
4
4
4
4
Charity		 Total
£
41,526
10,884
52,410
39,985
2,343
42,328
10,082
1,541
Total
£
41,526
10,884
52,410
39,985
2,343
42,328
10,082
1,541
4
Shoreditch Town Hall Trading
Limited		 Shoreditch Town Hall Trust holds 100% of the share capital (£2 issued) in Shoreditch
Town Hall Trading Limited, company number 08469860, which was incorporated in
England and Wales on 2 April 2013. The company began trading during 2014/15.
Ditch Productions Limited Shoreditch Town Hall Trust holds 100% of the share capital (£2 issued) in Ditch
Productions Limited, company number 08469918, which was incorporated in England
and Wales on 2 April 2013. The company began trading during 2016/17.

Page 21

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Page 21 of 26

Shoreditch Town Hall Trust

(A Charity Group)

Notes to the Consolidated Accounts

for the year ended 31 March 2022

14 Investments in subsidiary: Charity

The results of Shoreditch Town Hall Trading Limited are shown below:

At 31 March 2022, the aggregate share capital and reserves of Shoreditch Town Hall Trading Limited amounted to a deficit of £4,508 (2021: deficit £5,012) and an operating surplus before tax for the year of £504 (2021: deficit £38,848).

Shoreditch Town Hall Trading Limited is wholly owned by the Charity and operates a licenced bar. It has been valued at cost in the accounts of the charity.

Balance sheet at 31 March:
Profit and loss account
Gross profit
Administration expenses
Retained profit/(loss) brought forward
Tangible fixed assets
Cost of sales
Current assets
Retained profits
Current liabilities: due within one year
Turnover
Retained profit/(loss) carried forward
Share capital
Net profit/(loss) for year
Corporation tax charge
Represented by:		 2022
£
-
9,060
9,060
(13,568)
(4,508)
2
(4,510)
(4,508)
13,772
(9,461)
4,311
(3,807)		 2021
£
-
38,426
38,426
(43,438)
(5,012)
2
(5,014)
(5,012)
2,146
(3,852)
(1,706)
(37,142)
504
-
(5,014)
(4,510)		 (38,848)
-
33,834
(5,014)

The results of Ditch Productions Limited are shown below:

At 31 March 2022, the aggregate share capital and reserves of Ditch Productions Limited amounted to a deficit of £1,972 (2021: deficit £31,060) and an operating surplus before tax for the year of £29,088 (2021: Surplus £Nil).

Ditch Productions Limited is wholly owned by the Charity and operates a production house. It has been valued at cost in the accounts of the charity.

Balance sheet at 31 March:
Profit and loss account
Tangible fixed assets
Current assets
Current liabilities: due within one year
Represented by:
Share capital
Retained profits
Net profit/(loss) for year
Corporation tax charge
Retained profit/(loss) brought forward
Retained profit/(loss) carried forward
Turnover
Cost of sales
Gross profit
Administration expenses		 2022
£
-
720
720
(2,692)
(1,972)
2
(1,974)
(1,972)
153
-
153
28,935		 2021
£
-
1,428
1,428
(32,488)
(31,060)
2
(31,062)
(31,060)
22,361
(17,203)
5,158
(5,158)
29,088
-
(31,062)
(1,974)		 -
-
(31,062)
(31,062)

Page 22

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Page 22 of 26

Shoreditch Town Hall Trust

(A Charity Group)

Notes to the Consolidated Accounts

for the year ended 31 March 2022

15
16
17
18
19		 Stocks
Goods for resale
Debtors: amounts falling due within one year
Operating debtors
Accrued income
Intercompany account - STHTrading Limited
Intercompany account - Ditch Productions Limited
Prepayments
Creditors: amounts falling due within one year
Operating creditors
Deposits held
VAT liability
Payroll taxes
Pension Fund
Accruals
Deferred income
The funds of the Group: current year
Restricted funds
Restricted income funds
Unrestricted funds
General funds
The funds of the Group: prior year
Restricted funds
Restricted income funds
Unrestricted funds
General funds		 Opening
balance
£
166,937
211,875
378,812
Opening
balance
£
172,473
170,186
342,659		 2022
2021
£
£
3,620
4,124
3,620
4,124
2022
2021
£
£
78,315
7,037
53,400
33,300
-
-
-
-
17,391
14,470
149,106
54,807
2022
2021
£
£
74,766
79,639
57,296
53,642
10,187
(333)
9,553
-
2,469
-
17,404
20,718
214,431
136,070
386,106
289,736
Resources
arising
Resources
utilised
£
£
33,507
(143,388)
930,313
(864,324)
963,820
(1,007,712)
Resources
arising
Resources
utilised
£
£
163,124
(168,794)
625,785
(583,962)
788,909
(752,756)
Group
Group
Group		 2022
2021

£
£
-
-
-
-
2022
2021
£
£
78,315
7,037
53,400
33,300
9,603
40,084
-
28,830
17,391
14,470
158,709
123,721
2022
2021
£
£
73,863
78,377
57,296
53,642
10,187
(333)
9,553
-
2,469
-
11,643
14,961
214,431
136,070
379,442
282,717
Other
movements
Closing
balance
£
£
(40,119)
16,937
40,119
317,983
-
334,920
Other
movements
Closing
balance
£
£
134
166,937
(134)
211,875
-
378,812
Charity
Charity
Charity		 2022
2021

£
£
-
-
-
-
2022
2021
£
£
78,315
7,037
53,400
33,300
9,603
40,084
-
28,830
17,391
14,470
158,709
123,721
2022
2021
£
£
73,863
78,377
57,296
53,642
10,187
(333)
9,553
-
2,469
-
11,643
14,961
214,431
136,070
379,442
282,717
Other
movements
Closing
balance
£
£
(40,119)
16,937
40,119
317,983
-
334,920
Other
movements
Closing
balance
£
£
134
166,937
(134)
211,875
-
378,812
Charity
Charity
Charity
282,717
Closing
balance
£
16,937
317,983
334,920
Closing
balance
£
166,937
211,875
378,812

Page 23

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Page 23 of 26

(A Charity Group)

Shoreditch Town Hall Trust

Notes to the Consolidated Accounts

Notes to the Consolidated Accounts Notes to the Consolidated Accounts
for theyear ended 31 March 2022
20
21
22
23		 The funds of the charity: current year
Restricted funds
Restricted income funds
Unrestricted funds
General funds
The funds of the charity: prior year
Restricted funds
Restricted income funds
Unrestricted funds
General funds
Capital Grants
Backstage trust
Cultural Programme Grants
Coronavirus Job Retention Scheme Grant - (CJRS)
Capital Grants
Backstage trust
Discover Young Hackney
Coronavirus Job Retention Scheme Grant - (CJRS)
Restricted funds: Group and Charity - prior
year
Cockayne - Grants for the Arts and The London
Community Foundation
Restricted funds: Group and Charity - current
year		 Opening
balance
£
166,937
247,954
414,891
Opening
balance
£
172,473
167,417
339,890
Opening
balance
£
16,937
150,000
-
-
166,937
Opening
balance
£
19,607
150,000
3,000
(134)
-
172,473		 Resources
arising
£
33,507
916,388
949,895
Resources
arising
£
163,124
657,303
820,427
Incoming
resources
£
-
-
-
33,507
33,507
Incoming
resources
£
-
-
-
-
163,124
163,124		 Resources
utilised
£
(143,388)
(879,991)
(1,023,379)
Resources
utilised
£
(168,794)
(576,632)
(745,426)
Resources
expended
£
-
109,881
-
33,507
143,388
Resources
expended
£
2,670
-
3,000
-
163,124
168,794		 Other
movements
£
(40,119)
40,119
-
Other
movements
£
134
(134)
-
Transfers &
adjustments
£
-
(40,119)
-
-
(40,119)
Transfers &
adjustments
£
-
-
-
134
-
134		 Closing
balance
£
16,937
324,470
341,407
Closing
balance
£
166,937
247,954
414,891
Closing
balance
£
16,937
-
-
-
16,937
Closing
balance
£
16,937
150,000
-
-
-
166,937

Page 24

Document Ref: CEDAL-CAR7X-Y56MA-JZIMA

Page 24 of 26

Shoreditch Town Hall Trust

(A Charity Group)

Notes to the Consolidated Accounts

for the year ended 31 March 2022

Restricted funds (continued)

Projects financed by restricted funds are supported by unrestricted funding where necessary. This occurs where the funding is in arrears or the incidence of expenditure on the project occurs disproportionately at the beginning of the project compared to the income flows. Where restricted projects end the year with a deficit, this is met by after year-end restricted income or transfers from unrestricted funds.

Fund name Purpose of restricted funds
Capital Grants Capital grants were used to fund the capital development and maintenance programme
during the year.
Cultural Programme Grants Cultural Programme grants were used to commission artistic projects as well as support
the delivery of community activities, primarily with and for local young people.
Coronavirus Job Retention
Scheme Grant - (CJRS)		 The CJRS was introduced to help employers who cannot maintain their current workforce
because their operations are affected by the COVID-19 outbreak. The amount relates to
the furlough claims made to HMRC during the year. All the amounts received from the
claims have been paid to the employees who the claims relate to.
24
Transfers between funds - current year
General
funds
Restricted to general
40,119
40,119
25
Transfers between funds - prior year
General
funds
Restricted to general
(134)
(134)
26
Net assets attributable to funds: Group - current year
Tangible fixed assets
Current assets
Current liabilities
Net assets represented by funds
27
Net assets attributable to funds: Charity - current year
Tangible fixed assets
Investments
Current assets
Current liabilities
Net assets represented by funds
28
Net assets attributable to funds: Group - prior year
Tangible fixed assets
Current assets
Current liabilities
Net assets represented by funds		 Designated
funds
-
Designated
funds
-
Unrestricted
funds
£
10,082
694,007
(386,106)
317,983
Unrestricted
funds
£
10,082
4
693,826
(379,442)
324,470
Unrestricted
funds
£
1,541
500,070
(289,736)
211,875		 Restricted
funds
(40,119)
(40,119)
Restricted
funds
134
134
Restricted
funds
£
-
16,937
-
16,937
Restricted
funds
£
-
-
16,937
-
16,937
Restricted
funds
£
-
166,937
-
166,937		 Endowment
funds
-
Endowment
funds
-
Endowment
funds
£
-
-
-
-
Endowment
funds
£
-
-
-
-
-
Endowment
funds
£
-
-
-
-		 Total
-
-
Total
-
-
Total
£
10,082
710,944
(386,106)
334,920
Total
£
10,082
4
710,763
(379,442)
341,407
Total
£
1,541
667,007
(289,736)
378,812

Page 25

Document Ref: CEDAL-CAR7X-Y56MA-JZIMA

Page 25 of 26

(A Charity Group)

Shoreditch Town Hall Trust

Notes to the Consolidated Accounts

for the year ended 31 March 2022

29
Net assets attributable to funds: Charity - prior year
Tangible fixed assets
Investments
Current assets
Current liabilities
Net assets represented by funds		 Unrestricted
funds
£
1,540
4
529,126
(282,717)
247,954		 Restricted
funds
£
-
-
166,937
-
166,937		 Endowment
funds
Total
£
£
-
1,540
-
4
-
696,063
-
(282,717)
-
414,891

30 Taxation

The holding company is a registered charity and does not trade or undertake non-charitable activities and therefore is exempt from tax under UK taxation law.

Shoreditch Town Hall Limited is a trading company and is taxed on its profits at the prevailing small companies rate. Where funds allow Shoreditch Town Hall Limited donates its profits to Shoreditch Town Hall Trust.

Ditch Productions Limited is a trading company and is taxed on its profits at the prevailing small companies rate. Where funds allow Ditch Productions Limited donates its profits to Shoreditch Town Hall Trust.

31 Post balance sheet events

There were no significant post balance sheet events.

`

32 Other financial commitments

Total operating lease commitments

At 31 March 2022, the charity had total commitments of under non-cancellable operating leases as detailed below:

Land & building 2022
2021
£
£
3,200,000
3,240,000
3,200,000
3,240,000

33 Contingent liabilities

The group had no material contingent liabilities at 31 March 2022 nor at 31 March 2021.

34 Related parties transactions

During the year the charity paid £12,034 (2021: £48,563) to James Pidgeon, a trustee who resigned on 11 June 2021. The payments were made under his terms of employment contract with the charity. The services were provided at arms length and were approved by the trustees in accordance with Charity Commission guidance. No payments were made in respect of his usual activities as a trustee.

During the year the charity paid £47,339 (2021: £Nil) to Elisabeth Byrne, a trustee. The payments were made under her terms of employment contract with the charity. The services were provided at arms length and were approved by the trustees in accordance with Charity Commission guidance. No payments were made in respect of her usual activities as a trustee.

35 Gifts in kind and volunteers

During the year, the charitable group benefited from unpaid work performed by volunteers.

36 Holding company status

The holding company is limited by guarantee and has no share capital. The guarantors liability in the event the company is wound up is restricted to a maximum of £1 each.

Page 26

Document Ref: CEDAL-CAR7X-Y56MA-JZIMA

Page 26 of 26

Signature Certificate

Reference number: CEDAL-CAR7X-Y56MA-JZIMA

Signer

Timestamp

Signature

Penny Wrout

Email: post@pennywrout.co.uk Shared via link Sent: Viewed: Signed:

24 Oct 2022 15:48:18 UTC 14 Nov 2022 11:31:12 UTC 14 Nov 2022 11:33:45 UTC

IP address: 185.104.136.29 Location: London, United Kingdom

Tony Armstrong

Email: tony@armco.co.uk

Sent: Viewed: Signed:

24 Oct 2022 15:48:18 UTC 24 Oct 2022 15:48:20 UTC 14 Nov 2022 14:02:19 UTC

IP address: 185.78.8.123 Location: London, United Kingdom

Document completed by all parties on: 14 Nov 2022 14:02:19 UTC

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