Registered number: 03656378 Charity number: 1074877 HAMPSTEAD THEATRE FOUNDATION {A Company Limited by Guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
HAMPSTEAD THEATRE FOUNDATION {A Company Limited by Guarantee) CONTENTS Page Reference and Administrative Details of the Company, its Trustees and Advisers Trustees. Report Independent Auditors. Report on the Financial Statements Statement of Financial Activities 10 Balance Sheet Notes to the Financial Statements 12-20
HAMPSTEAD THEATRE FOUNDATION (A Company Limited by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustees Greg Ripley Duggan Alexandra Marks Susan Wyatt Company registered number 03656378 Charity registered number 1074877 Registered office Eton Avenue Swiss Cottage London NW3 3EU Company secretary Ashok Shah Independent auditors Nyman Libson Paul LLP Chartered Accountants 124 Finchley Road London NW3 5JS Page 1
HAMPSTEAD THEATRE FOUNDATION (A Company Limited by Guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their annual report together with the audited financial statements of the company for the 1 April 2023 to 31 March 2024. The Annual Report serves the purposes of both a Trustees, report and a directors, report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisiorss of the Statement of Recommended Practice ISORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). STRUCTURE, GOVERNANCE AND MANAGEMENT a. Governance Hampstead Theatre Foundation is both a registered charity and a company limited by guarantee having no share capital,. it is governed by its charitsble objects and Memorandum and Articles of Association and is a non-profit distributing organisation. The liability of its members in the event of the charity being wound up is limited to £1. b. Directors and Trustees The directors of the charitable company are its Trustees fof the purpose of charity law, and throughout this report are collectively referred to as the Trustees. The Trustees who served during the year and since the year end are shown on page 1. None of the Trustees have any beneficial interest in the charity. The Trustees are responsible for its overall management and control. including the implementation of policies. The Board meets regularly. They have certain legal, financial and fidiciary duties under company law and as Trustees must also comply with charity law. c. Appointment of Trustees As set out in the Articles of Association, the chairman is appointed by other Trustees. New Trustees are elected to the Board by existing members. d. Trustees Induction and Training New Trustees receive the latest annual report and financial statements and all relevant information relating to the charity. All trustees are kept informed about relevant developments within the charity sector. e. Related Parties The charity has no subsidiaries. The charity has a close relationship with Hampstead Theatre Limited. a company also limited by guarantee and a registered charity. to whom it leases the theatre building. f. Risk Management The Trustees are responsible for the management of the risks faced by the charity- Risks are identified, assessed and controls established as appropriate. Consequently. the Trustees are satisfied that all major risks identified have been mitigated. Page 2
HAPIIPSTEAD THEATRE FOUNDATION (A Company Limited by Guarantee TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 OBJECTIVES AND ACTIVITIES a. Principal Activity The principal activity of the charity. as defined by its Memorandum and Articles of Association, is to promote. maintain, improve and advance education particularly by the encouragement of the arts and the provision of places and facilities for their performance. creation, display. exhibition and realisation. The charity has had regard to the guidance from the Charity Commission to ensure that its objects and activities are applied for the public benefit. Since its incorporation the charity has had responsibility for buildin9 a new theatre at Swiss Cottage, London NW3. The building was completed in February 2003. The charity now leases the building to Hampstead Theatre Limited for occupying the btjilding and for maintaining the terms of its 99 year lease with the London Borough of Camden. Each year the Trustees review their aims and activities to ensure they continue to reflect their objectives. In carrying out this review the Trustees have considered the Chanty Commission's guidance on public benefit. ACHIEVEMENTS AND PERFORMANCE a. Review of leases The Foundation continues to lease the building to Hampstead Theatre Limited and to support its work with grants as shown in the accounts. b. Review of activities The detailed figures are contained in the financial statements. The charity had net outgoing resources of £132,33212023. £131,855) for the year. Fixed assets. which consist of the theatre. are shown at nel book value of £10,065,187 (2023.. £10,194.228). Unrestricted funds at 31 March 2024 amounted to £9,068,774 (2023.. £9.188,366}. c. Reserves policy The trustees have adopted a reserves policy to ensure that there are sufficient funds to maintain the fabric of the theatre. The free reserves at the year end. which consists of unrestricted reserves less the net book value of the unrestricted fixed assets amounted to negative £2,900 12023. positive £3911, which the trustees consider is acceptable. Going forward the chanty will raise more funds to increase these reserves. d. Investment Powers, Policy and Performance Under the Memorandum and Articles of Association, the charitable company has the power to invest in any way the Trustees feel appropriate. Page 3
HAMPSTEAD THEATRE FOUNDATION (A Company Limited by Guaranteel TRUSTEES, REPORT ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 PLANS FOR THE FUTURE a. Future leases Hampstead Theatre Foundation will continue to lease the theatre to Hampstead Theatre Limited for the term of its 25 year agreement which commenced on 27 January 2003. Statement of Trustees. responsibilities The Trustees (who are also the directors of the company for the purposes of company law} are responsible for preparing the Trustees, Report and the financial statements in accordan with applicable law and United Kingdom Accounting Stsndards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial slatements, the Trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP IFRS 102).. make judgments and accounting estimates that are reasonable and prudent., state whether applicable UK Accounting Stsndards {FRS 102} have been followed, subject to any material departures disclosed and explaine(J in the financial statements, prepare the financial statements on the going concem basis unless it is inappropriate to presume that the company will continue in biisiness. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transalDn5 and disclose with reasonable accuracy at any lime the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities. DISCLOSURE OF INFORMATION TO AUDITORS Each of the persons who are Trustees at the time when this Trustees, Report is approved has confimied that.. so far as that Trustee is aware. there is no relevant audit information of which the charity's auditors are unaware, and that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditors are aware of that information. Page 4
HAMPSTEAD THEATRE FOUNDATION (A Company Limited by Guarantee) TRUSTEES. REPORT (CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 AUDITORS The auditors, Nyman Libson Paul LLP, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees. Approved by order of the members of the board of Trustees on 12 November 2024 and signed on their behalf Greg ip Du Page 5
HAMPSTEAD THEATRE FOUNDATION (A Company Limited by Guarantee) INDEPENDENT AUDrroRS' REPORT TO THE MEMBERS OF HAMPSTEAD THEATRE FOUNDATION Opinion We have audited the financial statements of Hampstead Theatre Foundation (the 'charitable company'} for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related rsotes. including a summary of significant accounting policies. 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.. give a true and fair VFew of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources. including Its income and expenditure for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and have been prepared in accordan with the requirements of the Charities Act 2011 and Companies Act 2006. Basis for opinion We conducted our audit in accordance with Intemational Standards on Auditing (UK) {ISAs (UKII 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 United Kingdom, including the Financial Reporting Council's Ethical Standard. and we have fulfilled our othef 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 thal 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 charitable company's ability to continue as a going concern for a period of at least e1ve 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. Page 6
HAMPSTEAD THEATRE FOUNDATION (A Company Limited by Guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF HAMPSTEAD THEATRE FOUNDATION (CONTINUED Other information The other information comprises the information included in the Annual Report other than the financial statements and our Auditors. Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent othetwise explicitly stated in our report. we do not express any form of assurance conclusion thereon. 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 obtsined in the course of 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 this gives rise to a material misstatement in the financial statements themselves. 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 matters prescribed by the Companies Act 2006 In our opinion. based on the work undertaken in the course of the audit.. the information given in the Trustees. Report for the financial year for which the financial statements are prepared is consistent with the financial statements. the Trustees, Report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of our knowledge and understsnding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees, Report. We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion-. adequate accounting records have not been kepL or returns adequate tor our audit have not been received from branches not visited by us.. or the finanaal statements are not in agreement with the accounting records and returns., or certain disclosures of Trustees, remuneration specified by law are not made, or we have not received all the information and explanations we require for our audit., or the Trustees were not entitled to prepafe the financial ststemenls in accordance with the small companies regime and take advantage of the small companies, exemptions in preparing the Trustees, Report and from the requirement to prepare a Strategic Report. Responsibilities of trustees As explained more fully in the TfUStees' Responsibilities Statement, 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 thal they give a true and fair view. and for such internal control as the Trustees determine is 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 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. Page 7
HAMPSTEAD THEATRE FOUNDATION (A Company Limited by Guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF HAMPSTEAD THEATRE FOUNDATION {CONTINVED Auditors, 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 Auditors, Report that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an aLtdit conducted in accordance with ISAS IUKI 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, outtined 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. We identify and assess the risks of material misstatement of the financial statements., whether due to fraud or error, and then design and perfom audit procedures responsive to those risk. including obtaining audit evidence that is sufficient and appropriate to provide as basis for our opinion. In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, we have. considered the nature of the industry and sectors, control environment and business performance., made enquiries of management about their own identification and assessment of the risk and irregularities., performed audit work over the risk of management override on controls, involving testing ofjournal entries and other adjustments for appropriateness and reviewing accounting estimates for bias- undertaken appropriate sample-based testing of bank transactions identified and evaluated compliance with relevant laws and regulations and made enquiries of any instances of non-compliance. discussed matters among the audit engagement team regarding how and where fraud might occur in the financial statements and potential indictors of fraud. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. 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.or .uklauditorsres onsibilities. This description forms part of our Auditors, Report. Page 8
HAMPSTEAD THEATRE FOUNDATION (A Company Limited by Guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF HAMPSTEAD THEATRE FOUNDATION (CONTINUED) Use of our roport This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies A¢t 2006. Our audit work has been undertaken so that we might state to the charitsble company's members those matters we are required to stale lo 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 its members, as a body, for our audit work, for this report, or for the opinions we have formed. Hotal Mistry (Senlor Statutory Audltorl for and on behalf of Nyman Libson Paul LLP Chartered Accountants Statutory Auditors 124 Finchley Road London NW3 5JS 13 November 2024 Page 9
HAMPSTEAD THEATRE FOUNDATION (A Company Limited by Guarantee STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 Restricted funds 2024 Unrestricted funds 2024 Total funds 2024 Total funds 2023 Note Income from: Other trading activities Investments 56,000 234 56,000 234 56,000 42 Total income 56,234 56,234 56,042 Expenditure on: Charitable activities 12,737 175,829 188,566 187,897 Total expenditure 12,737 175,829 188,566 187,897 Net expenditure Transfers belween funds {12.7371 25,470 {119,595) (25,470) 1132,332) (131,855) 11 Net movement in funds 12,733 1145,065} (132.3321 (131.8551 Reconciliation of funds: Total funds brought fomard Net movement in funds 980,780 12,733 9,213,839 (145,065) 10,194,619 {132,332) 10,326,474 {131,855) Total funds carried forward 993,513 9,068,774 10,062,287 10,194,619 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 12 to 20 form part of these financial statements. Page 10
HAMPSTEAD THEATRE FOUNDATION (A Company Limited by Guarantee) REGISTERED NUMBER: 03656378 BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note Fixed assets Tangible assets Current assets 10,065,187 10,194,228 Cash at bank and in hand 39,214 90,789 39,214 90,789 Creditors.. amounts falling due within one year 10 (42,114} (90,398} Net current assets I liabilities (2.900) 391 Total net assets 10,062,287 10,194,619 Charity funds Restricted funds 993,513 9,068.774 980,780 9,213,839 Unrestricted funds Total funds 10,062,287 10,194,619 The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees on 12 November 2024 and signed on their behalf by.. Greg pley The not m part of these financial statements. Page11
HAMPSTEAD THEATRE FOUNDATION IA Company Limited by Guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 General infomiation Hampstead Theatre Foundation is a charitable company limited by guarantee and incorporated in England. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company. The address of the registered office is Eton Avenue. Swiss Cottage, London, NW3 3EU. Accounting policies 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP (FRS 102) Accounting and Reporting by Charities. Statement of Recommended Practice applicable to charities preparing their accounts in accordan with Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The charity's functional and presentation currency is GBP. Hampstead Theatre Foundation meets the definition of a public benefit enlity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. 2.2 Going concern The statement of financial position shows that the charity had net assets at tle balance sheet date of £10,062.287 12023. £10,194.619} The charity is dependant on the support of a related company. The trustees have received assurances from the related company that it will support the charity for the foreseeable future. The financial statements have therefore been prepared on a going concern basis. Existing funding facilities, forecasts and projections indicate that the charity has adequate resources to continue with some level of activity from minimal to full levels. After reviewing the charity's forecasts and projections. the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. 2.3 Fund accounting General funds are unrestricted funds which are available tor use at the discretion of the Trustees In furtherance of the general objectives of the company and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. Page 12
HAMPSTEAD THEATRE FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (continued) 2.4 Incoming Resources Grants and donations receivable are recognised in incoming resources in the year in which they are received. Rental income is recognised when receivable by the charity. 2.5 Expenditure All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources. Charitable activities are costs related directly to the aims of the charity. Governance cosls include those expenses incurred in the governance of the charity which do not relate to the provision of the charitsble activities, but are primarily associated with the constitutional and statutory matters. Expenditure on charitable activities is incurred on directly undertaking the activities which further the company's objectives. as well as any associated support costs. 2.6 Tangible flxed assets and depreciation Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives. Depreciation is provided on the following basis.. Theatre building Over the lease tem of 99 years 2.7 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measLtred reliably by the charity, this is normally upon notification of the interest paid or payable by the bank. 2.8 Cash at bank and in hand Cash at bank and in hand includes cash and short-temi highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.9 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities and provisions are normally recognised at their settlement amount. Page13
HAMPSTEAD THEATRE FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Icontinued) 2.10 Financial instruments The charity only has fi'nancial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. Income from other trading activities Income from non charitable trading activities Unrestricted funds 2024 Total funds 2024 Rental income 56,000 56,000 Unrestricted funds 2023 Total funds 2023 Rental income 56,000 58,000 Page 14
HAMPSTEAD THEATRE FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Investment income Unrestricted funds 2024 Total funds 2024 Interest receivable 234 234 Unrestricted funds 2023 Total funds 2023 Interest receivable 42 42 Analysis of expenditure on charitable activities Summary by fund type Restricted Unrestricted funds funds 2024 2024 Total 2024 Direct costs 12,737 175,829 188,566 Restricted Unrestricted funds funds 2023 2023 Total 2023 Direct costs 12.737 175,160 187,897 Page 15
HAMPSTEAD THEATRE FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysis of expenditure by activities Activities undertaken directly 2024 Grant funding of activities 2024 Support costs 2024 Total funds 2024 Management of the theatre 129,966 56,000 2,600 188,566 Activities undertaken directly 2023 Grant funding of activities 2023 Support costs 2023 Total funds 2023 Management of the theatre 129,247 56,000 2,650 187,897 Analysis of direct costs Total funds 2024 Activities 2024 Depreciation Bank charges Ground rent 129,040 43 129,040 43 883 883 129,966 129,966 Total funds 2023 Activities 2023 Depreciation Bank charges Ground rent 129,040 107 100 129,040 107 100 129,247 129,247 Page 16
HAMPSTEAD THEATRE FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysis of expenditure by activities (continued Analysis of direct costs (continued) Analysls of support costs Total funds 2024 Activities 2024 Auditors, remuneration 2,600 2,600 Total funds 2023 Activities 2023 Auditors, remuneration 2,650 2,650 Audttors. remuneration 2024 2023 Fees payable to the company's auditor for the audit of the company's annual accounts 2,600 2,650 Trustees. remuneration and expenses During the year, no Trustees received any remuneration or other benefits {2023 - £NIL). During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £NIL). Page17
HAIIIPSTEAD THEATRE FOUNDATION (A Company Limited by Guarantee> NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Tangible fixed assets Long-term leasehold property Cost or valuation At 1 April 2023 12,628,370 At 31 March 2024 12,628,370 Depreciation At 1 April 2023 Charge for the year 2,434,142 129,041 At 31 March 2024 2,563,183 Net book value At 31 March 2024 10,065,187 At 31 March 2023 10,194,228 10. Creditors: Amounts falling due within one year 2024 2023 Trade creditors Other taxation and social security Other creditors Accruals and deferred income 25 2,000 3,145 5,070 42,850 39,333 40,089 42,114 90,398 Page 18
HAMPSTEAD THEATRE FOUNDATION IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 11. Statement of funds ststement of funds - current year Balance at 31 March 2024 Balance at 1 April 2023 Transfers inlout Income Expenditure Unrestricted funds General Funds - all funds 9.213.839 56,234 (175.829) (25,470) 9,068,774 Restricted funds Restricted Funds - all funds 980.780 (12,737} 25,470 993,513 Total of funds 10,194,619 56,234 1188,566} 10,062,287 Statement of funds - prior year Balance at 31 March 2023 Balance at 1 April 2022 Income Expenditure Unrestricted funds General Funds - all funds 9,332.957 56,042 (175,160) 9,213,839 Restricted funds Restricted Funds- all funds 993,517 (12,737) 980,780 Total of funds 10,326,474 56,042 {187.897} 10,194,619 Page 19
HAMPSTEAD THEATRE FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12. Analysis of net assets between funds Analysis of net assets between funds - current period Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Tangible fixed assets Current assets Creditors due within one year 993,513 9,071,674 10,065,187 39,214 39,214 (42,114) 142,114) Total 993,513 9,068,774 10,062,287 Analysis of net assets between funds - prior period Restricted Unrestricted funds funds 2023 2023 Total funds 2023 Tangible fixed assets Current assets 980,780 9,213,448 10,194,228 90,789 90,789 {90,398} (90,398> Creditors due within one year Total 980,780 9,213,839 10,194,619 13. Related party transactions During the year rent of £56,000 12023. £56,000} was received from Hampstead Theatre Limited and grants of £56,000 (2023.. £56,000} were paid lo Hampstead Theatre Limited. At the balance sheet date £Nil (2023.. £42.850} was owed to Hampstead Theatre Limrted. 14. Legal charge Arts Council England has a charge through a legal mortgage, secured on all assets of the charitable company, including the Theatre Buildin9. The charge was registered on 8 July 2008. Page 20