**Blue Elephant Theatre Limited Annual report and financial statements Year ended 31 March 2024** Company no 03724349 Charity no 1077161 **Blue Elephant Theatre Limited** Annual report and financial statements Year ended 31 March 2024 **Contents** ## **Contents** |Legal and administrative information|2| |---|---| |Trustees’ annual report|3| |Independent examiner’s report|7| |Statement of financial activities|8| |Balance sheet|9| |Notes to the financial statements|10| ## **Photo on front cover** Production shot from "The Elf who Saved Christmas", December 2023, taken by Lidia Crisafulli and featuring Comfort Fabian and Julia Lisk Registered company no 03724349 Registered charity no 1077161 **Blue Elephant Theatre Limited** Annual report and financial statements Year ended 31 March 2024 **Legal and administrative details** ## **Legal and Administrative Information** |**Charity name**|Blue Elephant Theatre Limited|| |---|---|---| |**Charity registration no.**|1077161|| |**Company registration no.**|03724349|| |**Registered office**|59a Bethwin Road|| ||London|| ||SE5 0XT|| |**Trustees**|Christopher Lawrence|Chair| ||Matthew Craig|Treasurer| ||Brian Alistair Beaton|| ||Martine Jean-Baptiste|| ||Paul Langton|| ||Maya Pindar|| ||Derrick Tawiah|_appointed 8 September 2023_| |**Executive director**|Niamh de Valera|| |**Head of participation**|Jo Sadler-Lovett|| |**Theatre manager**|Jimmy Chamberlain|| |**Independent examiner**|Enaid Accountancy Ltd|| ||Units 24 & 25|| ||Goodsheds Container Village|| ||Hood Road|| ||Barry|| ||CF62 5QU|| |**Principal bankers**|Santander|| ||Abbey National House|| ||2 Triton Square|| ||London|| ||NW1 3AN|| Registered company no 03724349 Registered charity no 1077161 **2** **Trustees’ annual report** **Blue Elephant Theatre Limited** Annual report and financial statements Year ended 31 March 2024 ## **Trustees’ annual report** The Board of Trustees, who are also Directors of the Charity for the purposes of the Companies Act, and Trustees for charity law purposes, submit their annual report and the financial statements of Blue Elephant Theatre Limited for the year ended 31 March 2024. The Board of Trustees confirms that the annual report and financial statements of the Charity comply with current statutory requirements, including the Charity Act 2011, as well as the requirements of the Charity's governing document and the provisions of the ‘Charities SORP (FRS 102) - 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) second edition (effective 1 January 2019)’, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Companies Act 2006. ## **Objectives and activities** ## **Objects** The objects of the Charity, as set out in its Memorandum of Association, are the advancement of public education in the arts and in film and theatre by way of workshops, seminars and productions of work and in such other charitable ways as the Charity may from time to time decide. ## **Activities** In furtherance of its objects Blue Elephant Theatre (BET) provides: - a theatre in the community, running participation workshops for people across the arts, especially for young people and those with lived experience of mental health problems; and, - a professional programme of work supporting new and emerging artists, which seeks to engage the local community by programming work relevant to it and offering discounts and incentives to attend shows. Throughout the process of determining these activities, the Trustees confirm that they have complied with the duty in section 4 of the Charities Act 2006 to have due regard to the public benefit guidance published by the Charity Commission in determining the activities undertaken by the Charity. ## **Achievements and performance for 2023-2024** We had a sombre start to the financial year 2023-24 as our financial security was very uncertain, being no longer regularly funded by Arts Council England. We had, however, secured Transition funding from the Arts Council to support us as we developed a new business model. This model saw us pivot away from programming, while seeking to generate more earned income in other ways, e.g. hiring space, and focus even more strongly on our Participation programme and family shows. Guillaume Doussin finished up as Theatre Manager and Programmer, a role created for Niamh de Valera’s maternity leave, after a challenging year which he managed with dedication and enthusiasm. Jimmy Chamberlain became our only full-time staff member, responsible for the day to day management of Blue Elephant, without whom we would not have survived 2023-24. Jo Sadler-Lovett had returned to work at Blue Elephant part-time as Head of Participation and in June 2023, Niamh de Valera also returned to work part-time for Blue Elephant, but remotely as she had moved away after having children and had expected to resign. In light of the financial instability, she remained employed by Blue Elephant, with a focus on fundraising and planning for the future. While 2023-24 was a quieter year than many, there were still many exciting and impactful projects. ## _Young People’s Theatre_ Young People’s Theatre had been funded by BBC Children in Need for at least fifteen years but a change in Children in Need’s funding programmes meant that we could not reapply for funding at the end of our grant in December 2022. As a result, our offering was impacted by uncertainty in 2023-24 but we are very grateful for a number of small grants which ensured the provision remained throughout the year. Summer term was supported by a £1000 grant from the Chapman Charitable Trust and run as a skeletal service. Head of Participation, Jo Sadler-Lovett, ran two sessions on a Friday evening, supported by Sol Idris who had returned to work on the project in 2022. While the change of day meant some young people could not continue with Young People’s Theatre that term, it remained very important for those who could join. One young person with poor mental health described the sessions as ‘precious’ and ‘what gets me through the week’. Further funding was secured, from Southwark’s Neighbourhoods Fund, Partnership Southwark and United St Saviour’s and YPT returned to Saturdays. It was run by Sol and Montel Douglas, with Louise Dickinson supporting Young Company for a term. In February, we received the welcome news that we had received a £20,000 grant towards YPT from Awards for All, stabilising the project for a year. Feedback from parents this year has included: _“Because my son is autistic, it’s important for him to stay part of something for a long time. This term his mood has improved significantly”._ _“Blue Elephant supports my child by providing an outlet to be creative, interact with peers and perform.”_ _“She has developed her confidence and self-awareness”_ Registered company no 03724349 Registered charity no 1077161 **3** **Trustees’ annual report** **Blue Elephant Theatre Limited** Annual report and financial statements Year ended 31 March 2024 ## _Creative Minds_ Our primary school programme, Creative Minds, ran in two schools in 2023-24. The early intervention project in St Paul’s CoE primary school continues to have profound effects. These workshops empower young people with creative tools to improve resilience and well-being, eg a school refuser recently said the workshops let them 'let go of stresses and forget about them for a while...learn about yourself and how you feel and work together with other people'. ## _Holiday Club work with SCHWEP_ We continued to deliver drama workshops for SCHWeP (Southwark culture, health and well-being Partnership) and these were wellreceived as usual with feedback including: _“Exhilarating”_ _"SO MUCH FUN"_ _"Can you come to my school and do this?"_ _"Can we do this again tomorrow please?"_ One facilitator felt that the clubs they went to are quite sports orientated so the added benefit we gave was that our workshops are inclusive for all children, some of whom are not into sports. ## _Black Joy: On Stage_ Black Joy: On Stage was a writing and performing project for local adults to celebrate Black History Month 2023. Run by facilitator and playwright, Nicole Acquah, supported by Princess Bestman, the group created an original performance about different generations of women within one family recalling their great-great grandmother's famous Chicken Soup. It had two public performances to family, friends and those interested in the work. _“It has been great to explore with other Black creatives. It has been a safe space, and a great opportunity for creatives to showcase talent.” (Participant feedback)_ _“It celebrated family, food, culture, home – it was great! I could see the bonds formed amidst the cast members. It was just beautiful and brought me joy.” (Audience feedback)_ We created two original in house productions as part of a project to celebrate that our children’s shows reach audiences who are representative of the borough in terms of being from a Global Majority background and to expand this provision. Ordinarily we produce one family show a year at Christmas – and without this funding we would have been unable to do even this at Christmas 2023. The shows were called _The Elf who Saved Christmas_ and _The Great Easter Bunny Trials_ . While our shows are always inspired by the young people we work with and what they are experiencing, we have never involved our Youth Board so heavily in their creation before. We sought their thoughts and ideas on the themes and content which helped shape the productions. They are representative of the audiences we want to engage and their insight is important to us, as is empowering them to see themselves as creators. Overall, the percentage of people we reached from Global Majority backgrounds with these two shows was 15% higher than that reached by _A Topsy Turvy Christmas_ in 2022-23. We also worked more closely with our communities, building and deepening relationships, and involving them more closely in our productions. We were also able to engage far more schools than in 2022-23. We reached Comber Grove, John Ruskin, St Paul’s CofE Primary School, Surrey Square, Michael Faraday, St Joseph’s Camberwell, Keyworth and Rye Oak Primary School. Some bookings included a lot of adults as the classes had a high number of children with additional needs. Rye Oak’s Reception Class came and there were comments that many of the children had not been to a live performance before. The shows appealed to all ages with one headteacher saying “our year 5 teacher was worried that the pupils would find it pitched too low but they loved it, were up dancing and said "It was the best trip ever"” while Reception children “were keen to keep talking about the play and its different characters”. Year 3 from St Paul’s CofE Primary School took part in our Young Reviewers Programme, reviewing _The Elf who Saved Christmas._ We created special review sheets for them and they all wrote reviews of the performance they saw. Common themes in the reviews included that they liked that Jaymie the Elf had a scooter just like them, that they would suggest having more actors to improve the show and that they liked the scenes in Nigeria. For The Easter Bunny Trials, we invited our Young People’s Theatre with their families to be Young Reviewers so that their experience could come full circle from inspiring the show to reviewing it. Being able to offer this programme in a very difficult year for us had a huge impact on maintaining and increasing our visibility and viability, and reached nearly 1,800 people overall. ## **Theatre Management Summary** Behind the scenes, we were consistently working towards more sustainability for the Blue Elephant, with some trustees and senior staff meeting weekly about this for some time. The financial year was bookended by two fundraising drives. Our Treasurer, Matthew Craig, embarked on a cycle across France in May, raising significant funds in the process while we took part in the Big Give’s Arts for Impact campaign in March, where donations were doubled by match funding. We were also interviewed by BBC London News in March about the theatre and the impact funding cuts were having, helping to raise the theatre’s profile. We welcomed Derrick Tawiah officially to our Board in September 2023 after he had spent a year with us, following our involvement in Southwark Council’s Black on Board initiative. At the end of March 2024, we bid farewell (at least for now) to Darren Spencer who had been our dedicated and supportive YPT volunteer for years. ## **Conclusion** Following the loss of NPO status for the theatre, the year from April 2023 to March 2024 has been a year of transition to a new funding Registered company no 03724349 Registered charity no 1077161 **4** **Trustees’ annual report** ## **Blue Elephant Theatre Limited** ## Annual report and financial statements Year ended 31 March 2024 model, supported by a grant from the Arts Council Transition Fund, as described earlier in this report and projected in our report for 2022-23. That transition has included a big change in the senior staffing structure: Jimmy Chamberlain becoming the only full-time staff member, with Jo Sadler-Lovett as part-time Head of Participation and Niamh de Valera as part-time Executive Director. Despite this, the activity generated by the theatre, as this report has testified, has been truly remarkable, a testament to the passion and dedication of these staff members and the team of employees and freelancers around them. A constant feature of the Blue Elephant over many years has been the way it has supported, served and encouraged audiences and participation by Global Majority residents of the borough and children with additional needs and this year has been no different. In fact, in some instances, the theatre exceeded its performance for the previous year. We organised two family-oriented shows, one at Easter as well as our usual Christmas show, with an increase in attendance over 2022-23. This is truly remarkable and a credit to the determination and creativity of the staff. Trustees as well as staff have risen to the challenge of the situation, organising special additional meetings to monitor and support the financial situation, and our Treasurer, Matthew Craig, organising in a fund-raising cycle ride in France to raise significant additional funds. The challenges of the year have been enormous, but we can be proud of our responses to these challenges. We know that the future is extremely uncertain, but we approach it with courage and determination to do our best for the theatre and for those accessing its services. It is what marks out the Blue Elephant Theatre: its resilience, positivity and determination to overcome tremendous obstacles, like the elephant in its name. ## **Structure, Governance and Management** ## **Governing Document** Blue Elephant Theatre Limited is registered under the Companies Act 2006 as a company limited by guarantee and not having a share capital. Blue Elephant Theatre Limited is a registered charitable company constituted as a limited company under its Memorandum and Articles of Association. The charity registration number is 1077161 (England and Wales) and the company registration number is 03724349 (England and Wales). ## **Recruitment and Appointment of Trustees** The Trustees are also the directors of Blue Elephant Theatre Limited for the purpose of company law. Blue Elephant Theatre Limited Articles of Association require a minimum of three trustees. There is no maximum number of trustees. A third of the directors are subject to re-election at the Annual General Meeting, with no maximum length of service. Only the current directors can appoint new directors. ## **Organisational structure** The Trustees are responsible for the overall financial control, direction and work of the Charity. They meet approximately nine times a year with the principal staff outlined on page 2, who have no voting rights. Day-to-day responsibilities are delegated to the principal staff within a framework of approved policies and operational plans, who manage the other staff employed by the Charity. ## **Statement of Board of Trustees’ Responsibilities** ## **Financial Review** During the current financial year the Charity achieved a surplus of £10,903 (2023: deficit of £72,420), increasing total reserves at year end to £125,484 (2023: £114,581). Of the total reserves held at year end £98,423 was unrestricted in nature (2023: £113,011). ## **Reserves Policy** The Trustees have a policy that the Charity maintains an unrestricted reserve equivalent to at least three months of expenditure. At the year-end this equated to £33,800. The current reserves of £98,423 meet this requirement. The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and regulations. Company law requires the Trustees to prepare financial statements for each financial year. Under that law they are required to prepare the financial statements in accordance with UK Accounting Standards and applicable law (UK Generally Accepted Accounting Practice), including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. 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 charitable company and of the excess of income over expenditure for that period. In preparing these financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and, Registered company no 03724349 Registered charity no 1077161 **5** **Trustees’ annual report** **Blue Elephant Theatre Limited** Annual report and financial statements Year ended 31 March 2024 - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue its activities. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and 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. They have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charitable company and to prevent and detect fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the UK governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. In addition, the Trustees confirm that they are happy that content of the annual review, including the legal and administrative information, in pages 2 to 7 of this document meet the requirements of both the Trustees’ Annual Report under charity law and the Directors’ Report under company law. They also confirm that the financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the Charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014. ## **Preparation of the report** This report has been prepared taking advantage of the small companies exemption of section 415A of the Companies Act 2006. ## **Independent Examiners** The independent examiners, Enaid Accountancy Ltd, have indicated their willingness to accept re-appointment under Section 485 of the Companies Act 2006. This report was approved and authorised for issue by the Board of Trustees on 17 December 2024 and signed on its behalf by: CHRISTOPHER LAWRENCE (Dec 18, 2024 12:07 GMT) Chris Lawrence ## **Chair of Trustees** Registered company no 03724349 Registered charity no 1077161 **6** **Independent examiner’s report** **Blue Elephant Theatre Limited** Annual report and financial statements Year ended 31 March 2024 ## **Independent examiner’s report to the board of trustees of Blue Elephant Theatre Limited** I report to the Trustees on my examination of the accounts of Blue Elephant Theatre Limited (charity number 1077161 – England & Wales, company number 03724349) for the year ended 31 March 2024 which are set out on pages 8 to 19. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: ## **Respective responsibilities of trustees and examiner** The Trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). The Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (‘the 2011 Act’) nor under Part 16 of the 2006 Act, and that an independent examination is needed. Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, it is my responsibility to: - examine the accounts under section 145 of the 2011 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. This report, including my statement, has been prepared for and only for the Charity’s Trustees as a body. My work has been undertaken so that I might state to the Charity’s Trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity’s Trustees as a body for my examination work, for this report, or for the statements I have made. - accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or, - the accounts do not accord with those records; or, - the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; or, - the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. ## _**Andrew Philip Nash FCA**_ _Member of the Institute of Chartered Accountants in England and Wales – 2461833_ ## **Basis of independent examiner’s statement** 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 those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the Trustees concerning any such matters. Dated: 18 December 2024 _Enaid Accountancy Ltd_ Units 24 & 25 Goodsheds Container Village Hood Road Barry CF62 5QU 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. Registered company no 03724349 Registered charity no 1077161 **7** **Statement of financial activities** **Blue Elephant Theatre Limited** Annual report and financial statements Year ended 31 March 2024 ## **Statement of Financial Activities** **Incorporating the Income & Expenditure Account and the Statement of Recognised Gains & Losses For the year ended 31 March 2024** **----- Start of picture text -----**
Unrestricted Restricted Total Total
funds funds funds funds
Year ended Year ended Year ended Year ended
31-Mar-24 31-Mar-24 31-Mar-24 31-Mar-23
Notes £ £ £ £
Income from:
Donations & legacies 2 6,815 96,599 103,414 136,814
Charitable activities 3 24,771 5,140 29,911 38,435
Other trading activities 4 3,903 - 3,903 9,409
Investments 746 - 746 173
Other income 8,259 - 8,259 -
Total income 44,494 101,739 146,233 184,831
Expenditure on:
Raising funds 5 1,848 37 1,885 4,628
Charitable activities 6 57,804 75,641 133,445 252,623
Total expenditure 59,652 75,678 135,330 257,251
Net income/(expenditure) (15,158) 26,061 10,903 (72,420)
Transfers between funds 10 & 11 570 (570) - -
Net movement in funds (14,588) 25,491 10,903 (72,420)
Reconciliation of funds
Total funds brought forward 10 & 11 113,011 1,570 114,581 187,001
Total funds carried forward 10 & 11 98,423 27,061 125,484 114,581
**----- End of picture text -----**
All income from investments was unrestricted as to use in both the current and prior year. The notes on pages 10 to 19 form part of the financial statements. Registered company no 03724349 Registered charity no 1077161 **8** **Blue Elephant Theatre Limited** Annual report and financial statements Year ended 31 March 2024 **Balance sheet** ## **Balance Sheet** ## **As at 31 March 2024** **----- Start of picture text -----**
Total Total
funds funds
31-Mar-24 31-Mar-23
Notes £ £
Current assets:
Debtors & prepayments 8 22,266 8,172
Cash at bank and in hand 108,445 109,877
Total current assets 130,711 118,049
Creditors : amounts falling
due within one year 9 (5,227) (3,468)
Net current assets 125,484 114,581
Net assets 125,484 114,581
The funds of the charity:
Restricted funds 10 & 11 27,061 1,570
Unrestricted funds 10 & 11 98,423 113,011
Total charity funds 125,484 114,581
**----- End of picture text -----**
The notes on pages 10 to 19 form part of the financial statements. The financial statements have been prepared in accordance with section 415A of the Companies Act 2006 relating to small companies and FRS 102 Section 1A. The charitable company is entitled to exemption from audit under section 477 of the Companies Act 2006 for the year ended 31 March 2024, and the members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 March 2024 under section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts. They were approved and authorised for issue by the Board of Trustees on 17 December 2024 and signed on their behalf by: **----- Start of picture text -----**
CHRISTOPHER LAWRENCE (Dec 18, 2024 12:07 GMT)
**----- End of picture text -----**
Chris Lawrence ## **Chair of Trustees** Registered company no 03724349 Registered charity no 1077161 **9** **Notes to the financial statements** **Blue Elephant Theatre Limited** Annual report and financial statements Year ended 31 March 2024 ## **Notes to the financial statements** ## **1. Accounting policies** ## **Basis of preparation of the financial statements** The financial statements have been prepared in accordance with ‘Charities SORP (FRS 102) - 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) second edition (effective 1 January 2019)’, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The effect of any event relating to the period ended 31 March 2024, which occurred before the date of approval of the financial statements by the Board of Trustees has been included in the financial statements to the extent required to show a true and fair view of the state of affairs at 31 March 2024 and the results for the year ended on that date. Under the exemption available to smaller charities the Board of Trustees has chosen not to include a Statement of Cash Flows within the financial statements. The functional currency of the Charity is sterling and amounts in the financial statements are rounded to the nearest pound. ## **Going concern** The financial statements have been prepared on the going concern basis as the Board of Trustees is confident that future reserves and future income is more than sufficient to meet current commitments. There are no material uncertainties that impact this assessment and the ongoing global economic uncertainty has had no material impact on this assessment. ## **Legal status** Blue Elephant Theatre Limited is a charitable company registered in England & Wales, and meets the definition of a public benefit entity. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £10 per member. The registered address is 59a Bethwin Road, London, SE5 0XT. ## **Fund Accounting** General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Designated funds comprise of unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in note 10 of the financial statements. Restricted funds are funds that are to be used in accordance with specific restrictions imposed by donors or that have been raised by the Charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in note 10 of the financial statements. ## **Income** Income is recognised when the Charity has entitlement to the funds, any performance indicators attached to the item(s) of income have been met, it is probable that the income will be received, and the amount can be measured reliably. Donations are recognised in full in the Statement of Financial Activities when entitled, receipt is probable and when the amount can be quantified with reasonable accuracy. Gift aid receivable is included when claimable. Grant income is credited to the Statement of Financial Activities when received or receivable whichever is earlier, unless the grant relates to a future period, in which case it is deferred. Income from charitable activities and other trading activities is credited to the Statement of Financial Activities when received or receivable whichever is earlier, unless it relates to a specific future period or event, in which case it is deferred, except for tickets sales and bar revenue which are recognised on a cash basis. ## **Donated goods and services** Donated goods and services are recognised on the basis of the value of the gift to the Charity, which is measured as the amount the Charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market. This amount cannot exceed open market fair value. A corresponding amount is then recognised in expenditure in the period of receipt. ## **Expenditure and irrecoverable VAT** All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Indirect costs, including governance costs, which cannot be directly attributed to activities, are allocated directly to charitable activities as this is the focus of all staff time. A breakdown of these expenses is outlined in note 6 of the financial statements. Irrecoverable VAT is charged against the category of expenditure for which it was incurred. ## **Tangible fixed assets and depreciation** Tangible fixed assets comprise fixtures, fittings, and equipment. As a substantial part of the theatre equipment used by the Charity for its activities belongs to the landlord it is excluded from the financial statements. Other equipment that has been purchased by the Charity is written off in the year of acquisition due to the nature of the wear and tear during its normal use within a theatre context. Registered company no 03724349 Registered charity no 1077161 **10** **Notes to the financial statements** **Blue Elephant Theatre Limited** Annual report and financial statements Year ended 31 March 2024 ## **Cash at bank and in hand** Cash at bank and in hand includes cash in hand, deposits with banks and funds that are readily convertible into cash at, or close to, their carrying values, but are not held for investment purposes. ## **Financial instruments** Basic financial instruments are measured at amortised cost other than investments which are measured at fair value. ## **Critical estimates and judgements** ## **Debtors and prepayments** Trade and other debtors are recognised at the settlement amount after any trade discount is applied. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **Creditors and accruals** Creditors are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party, and the amount due to settle the obligation can be measured or estimated reliably. In preparing financial statements it is necessary to make certain judgements, estimates and assumptions that affect the amounts recognised in the financial statements. The treatment of tangible fixed assets is sensitive to changes in useful economic lives and residual values of assets. In the view of the Trustees in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year. ## **Pensions** The Charity operates a defined contribution pension scheme which is administered by an external independent pension provider. Contributions are recognised in the Statement of Financial Activities as they fall due. Registered company no 03724349 Registered charity no 1077161 **11** **Notes to the financial statements** **Blue Elephant Theatre Limited** Annual report and financial statements Year ended 31 March 2024 ## **2. Income from donations and legacies** |**Grants**
Arts Council England - Transition Fund
Awards for All
Partnership Southwark
Southwark Council (Culture Together)
Southwark Council (Black History Month)
Southwark Council (Windrush 75)
Southwark Council (Neighbourhood fund)
United St Saviours
Mad about the Elephant - membership scheme
Other donations|**Unrestricted**
**funds**
**Year ended**
**31-Mar-24**
**£**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**240**
**6,575**
**6,815**|**Restricted**
**funds**
**Year ended**
**31-Mar-24**
**£**
**43,071**
**20,000**
**1,000**
**19,805**
**2,224**
**2,499**
**5,000**
**3,000**
**96,599**
**-**
**-**
**96,599**|**Total**
**funds**
**Year ended**
**31-Mar-24**
**£**
**43,071**
**20,000**
**1,000**
**19,805**
**2,224**
**2,499**
**5,000**
**3,000**
**96,599**
**240**
**6,575**
**103,414**| |---|---|---|---| ||||| |**Grants**
Arts Council England - Project Grant
Arts Council England - National Portfolio Organisation
Austin & Hope Pilkington Trust
BBC Children in Need
Chapman Charitable Trust
Jack Petchey Foundation
Royal Hall Victoria Foundation
Southwark Council Black History Month
Southwark Council (Street party)
Southwark Council (Public Health)
Team London Bridge
United St Saviours
Unity Theatre Trust
Mad about the Elephant - membership scheme
Other donations|_Unrestricted_
_funds_
_Year ended_
_31-Mar-23_
_£_
_-_
_73,834_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_73,834_
_290_
_2,488_
_76,612_|_Restricted_
_funds_
_Year ended_
_31-Mar-23_
_£_
_3,888_
_-_
_1,000_
_22,480_
_1,000_
_7,800_
_1,000_
_2,000_
_5,540_
_9,741_
_2,000_
_2,953_
_800_
_60,202_
_-_
_-_
_60,202_|_Total_
_funds_
_Year ended_
_31-Mar-23_
_£_
_3,888_
_73,834_
_1,000_
_22,480_
_1,000_
_7,800_
_1,000_
_2,000_
_5,540_
_9,741_
_2,000_
_2,953_
_800_
_134,036_
_290_
_2,488_
_136,814_| Registered company no 03724349 Registered charity no 1077161 **12** **Notes to the financial statements** **Blue Elephant Theatre Limited** Annual report and financial statements Year ended 31 March 2024 ## **3. Income from charitable activities** |**4. Income from other trading activities**
Creative Minds - contribution from schools
Box office takings
Theatre hire
Other
Creative Minds - contribution from schools
Box office takings
Theatre hire
Other
Merchandise
Bar takings|**Unrestricted**
**funds**
**Year ended**
**31-Mar-24**
**£**
**4,135**
**3,938**
**13,283**
**3,415**
**24,771**
_Unrestricted_
_funds_
_Year ended_
_31-Mar-23_
_£_
_10,888_
_21,165_
_1,860_
_4,522_
_38,435_
**Unrestricted**
**funds**
**Year ended**
**31-Mar-24**
**£**
**29**
**3,874**
**3,903**|**Restricted**
**funds**
**Year ended**
**31-Mar-24**
**£**
**-**
**5,140**
**-**
**-**
**5,140**
_Restricted_
_funds_
_Year ended_
_31-Mar-23_
_£_
_-_
_-_
_-_
_-_
_-_
**Restricted**
**funds**
**Year ended**
**31-Mar-24**
**£**
**-**
**-**
**-**|**Total**
**funds**
**Year ended**
**31-Mar-24**
**£**
**4,135**
**9,078**
**13,283**
**3,415**

**29,911**
_Total_
_funds_
_Year ended_
_31-Mar-23_
_£_
_10,888_
_21,165_
_1,860_

_4,522_
_38,435_
**Total**
**funds**
**Year ended**
**31-Mar-24**
**£**
**29**
**3,874**
**3,903**| |---|---|---|---| |Merchandise
Bar takings|_Unrestricted_
_funds_
_Year ended_
_31-Mar-23_
_£_
_6_
_9,403_
_9,409_|_Restricted_
_funds_
_Year ended_
_31-Mar-23_
_£_
_-_
_-_
_-_|_Total_
_funds_
_Year ended_
_31-Mar-23_
_£_
_6_
_9,403_
_9,409_| Registered company no 03724349 Registered charity no 1077161 **13** **Notes to the financial statements** **Blue Elephant Theatre Limited** Annual report and financial statements Year ended 31 March 2024 ## **5. Expenditure on raising funds** **----- Start of picture text -----**
Unrestricted Restricted Total
funds funds funds
Year ended Year ended Year ended
31-Mar-24 31-Mar-24 31-Mar-24
£ £ £
Bar purchases 1,848 37 1,885
1,848 37 1,885
Unrestricted Restricted Total
funds funds funds
Year ended Year ended Year ended
31-Mar-23 31-Mar-23 31-Mar-23
£ £ £
Bar purchases 4,548 80 4,628
4,548 80 4,628
**----- End of picture text -----**
Registered company no 03724349 Registered charity no 1077161 **14** **Notes to the financial statements** **Blue Elephant Theatre Limited** Annual report and financial statements Year ended 31 March 2024 ## **6. Expenditure on charitable activities** |**6. Expenditure on charitable activities**|||| |---|---|---|---| |Governance costs includes:
Staff salaries
Other staff costs
Production costs
Projects
Marketing
Premises
Office overheads
Governance
Staff salaries
Other staff costs
Production costs
Projects
Marketing
Premises
Office overheads
Governance|**Unrestricted**
**funds**
**Year ended**
**31-Mar-24**
**£**
**28,727**
**593**
**3,430**
**6,645**
**118**
**14,072**
**2,635**
**1,584**
**57,804**

_Unrestricted_
_funds_
_Year ended_
_31-Mar-23_
_£_
_93,155_
_1,095_
_8,363_
_9,131_
_150_
_17,821_
_4,860_
_1,536_
_136,111_|**Restricted**
**funds**
**Year ended**
**31-Mar-24**
**£**
**51,357**

**759**

**191**

**16,387**

**-**
**5,237**
**1,710**
**-**
**75,641**
_Restricted_
_funds_
_Year ended_
_31-Mar-23_
_£_
_51,084_
_451_
_989_
_57,885_
_2,202_
_2,680_
_1,221_
_-_
_116,512_|**Total**
**funds**
**Year ended**
**31-Mar-24**
**£**
**80,084**
**1,352**
**3,621**

**23,032**

**118**
**19,309**
**4,345**
**1,584**
**133,445**
_Total_
_funds_
_Year ended_
_31-Mar-23_
_£_
_144,239_
_1,546_
_9,352_
_67,016_
_2,352_
_20,501_
_6,081_
_1,536_
_252,623_| |Independent examination||**Total**
**funds**
**Year ended**
**31-Mar-24**
**£**
**1,584**
**1,584**|_Total_
_funds_
_Year ended_
_31-Mar-23_
_£_
_1,536_
_1,536_| Registered company no 03724349 Registered charity no 1077161 **15** **Notes to the financial statements** **Blue Elephant Theatre Limited** Annual report and financial statements Year ended 31 March 2024 ## **7. Staff costs** **----- Start of picture text -----**
Total Total
funds funds
Year ended Year ended
31-Mar-24 31-Mar-23
£ £
Gross salaries 78,072 136,120
Employer's NIC 693 5,521
Employer's pension 1,319 2,598
80,084 144,239
**----- End of picture text -----**
The average headcount during the period was 11 persons (2023: 13 persons). The total employee benefits paid to key management personnel during the year was £66,865 (2023: £72,097). No employee received employee benefits of more than £60,000 (2023: Nil). ## **8. Debtors and prepayments** **----- Start of picture text -----**
Total Total
funds funds
31-Mar-24 31-Mar-23
£ £
Other debtors 11,324 5,620
Prepayments 456 2,552
Accrued income 10,486 -
22,266 8,172
**----- End of picture text -----**
## **9. Creditors – amounts falling due within one year** |Deferred Income
Accruals
Pensions
Deposits held|**Total**
**funds**
**31-Mar-24**
**£**
**260**
**4,493**
**274**
**200**
**5,227**|_Total_
_funds_
_31-Mar-23_
_£_
_-_
_3,118_
_-_
_350_
_3,468_| |---|---|---| Income has been deferred in relation to hire bookings relating to the 2024/25 financial year. Registered company no 03724349 Registered charity no 1077161 **16** **Notes to the financial statements** **Blue Elephant Theatre Limited** Annual report and financial statements Year ended 31 March 2024 ## **10. Analysis of charity funds** **----- Start of picture text -----**
Funds Income Expenditure Transfer Funds
brought for the in the between carried
forward year year funds forward
Year ended Year ended Year ended Year ended Year ended
31-Mar-24 31-Mar-24 31-Mar-24 31-Mar-24 31-Mar-24
£ £ £ £ £
Unrestricted funds 113,011 44,494 (59,652) 570 98,423
Restricted funds
- - -
Arts Council England 43,071 (43,071)
Young People's Theatre
- - -
Chapman Charitable Trust 1,000 (1,000)
- - -
Partnership Southwark 1,000 (1,000)
- - -
Neighbourhood Fund 5,000 (5,000)
United St Saviours - 3,000 (3,000) - -
Awards for All - 20,000 - - 20,000
- -
Soutwark Council Culture Together 24,945 (20,383) 4,562
- - -
Black History Month 2,224 (2,224)
Windrush 75 - 2,499 - - 2,499
Creando Escenarios 570 - - (570) -
1,570 101,739 (75,678) (570) 27,061
114,581 146,233 (135,330) - 125,484
**----- End of picture text -----**
## **Arts Council England** We secured Transitions funding from Arts Council England to support our core costs as we moved towards a new business model and away from reliance on their core funding. ## **Young People’s Theatre** Young People’s Theatre is a youth theatre project for children and young people in our local area facing various barriers. YPT reaches Saturdays throughout the year. It was funded by a number of small grants in 2023-24 including grants from the Chapman Charitable Trust, Partnership Southwark, Southwark Council’s Neighbourhood Fund and a small grant from United St Saviour’s. In February 2024, we received news that we been successful in our application for a £20,000 grant from Awards for All, securing Young People’s Theatre for another year. ## **Black History Month Project** Southwark Council’s Black History Month fund allowed us to create a community play project for adults around the theme of Black Joy. Led by playwright and facilitator Nicole Acquah, the creative writing and performing workshops led to a performance called Chicken Soup, which had two public performances. ## **Windrush 75** To celebrate the 75th anniversary of the arrival of the Empire Windrush, we received funding from Southwark Council to revive our intergenerational play, _Way Back When_ . It is about a grandmother who came from Jamaica sharing her memories with her grandchild. While the grant was received in 2023-24, the project was scheduled to be carried out in 2024-25. ## **Creando Escenarios** ## **Southwark Council Culture Together** We created two original in house family theatre shows with funding from Southwark Council’s Culture Together programme. The funding was to amplify and develop our already successful work reaching children’s theatre audiences from the Global Majority. Following the success of the initial Creando Escearios project as part of our grant from Public Health Southwark, we secured funding from United Saint Saviours Charity to continue our Spanish-speaking drama group. Registered company no 03724349 Registered charity no 1077161 **17** **Notes to the financial statements** **Blue Elephant Theatre Limited** Annual report and financial statements Year ended 31 March 2024 |**Unrestricted funds**
**Restricted funds**
Community Development Assistant
Theatres Trust
Team London Bridge
Young People's Theatre (i)
Young People's Theatre (ii)
ReACT
Black History Month
Public Health Southwark
Neighbourhood Fund
Street Party
Intergeneration Festival
A Topsy Turvy Christmas
Creando Escenarios
Elephantology 2023|_Funds_
_brought_
_forward_
_Year ended_
_31-Mar-23_
_£_
_140,693_
_7,774_
_1,876_
_849_
_297_
_600_
_-_
_-_
_3,723_
_609_
_-_
_30,580_
_-_
_-_
_-_
_46,308_
_187,001_|_Income_
_for the_
_year_
_Year ended_
_31-Mar-23_
_£_
_124,629_
_-_
_-_
_2,000_
_23,480_
_300_
_7,500_
_2,000_
_9,741_
_-_
_5,540_
_3,888_
_1,800_
_2,953_
_1,000_
_60,202_
_184,831_|_Expenditure_
_in the_
_year_
_Year ended_
_31-Mar-23_
_£_
_(140,659)_
_(7,911)_
_(2,557)_
_(2,849)_
_(22,777)_
_(900)_
_(9,299)_
_(2,000)_
_(13,464)_
_(609)_
_(5,558)_
_(34,468)_
_(9,425)_
_(2,383)_
_(2,392)_
_(116,592)_
_(257,251)_|_Transfer_
_between_
_funds_
_Year ended_
_31-Mar-23_
_£_
_(11,652)_
_137_
_681_
_-_
_-_
_-_
_1,799_
_-_
_-_
_-_
_18_
_-_
_7,625_
_-_
_1,392_
_11,652_
_-_|_Funds_
_carried_
_forward_
_Year ended_
_31-Mar-23_
_£_
_113,011_
_-_
_-_
_-_
_1,000_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_570_
_-_
_1,570_
_114,581_| |---|---|---|---|---|---| ## **Community Development Assistant** We received funding from the Evening Standard Dispossessed Fund/Save London Lives, which had previously funded a Development Officer. After this role became vacant, we redesigned the role as a Community Development Assistant, supporting the Participation department more broadly. Its work for young people aged 11 - 18 from May to December 2022 was supported by a grant of £7,500 from the Jack Petchey ReIgnite Fund. We also ran sessions for 6 - 11 year olds. ## **Public Health Southwark** We launched four new projects to run across 2022 under the Southwark Council Public Health pilot programme including: ## **Theatres Trust** We received a grant in the 2020-21 financial year to install a new ventilation system in the theatre, which was carried out in summer of 2021. Southwark Council’s Cleaner, Greener, Safer was the other funder of this work. Further work associated with the installation was completed in 2022-23. ## **Team London Bridge** This grant funded free storytelling performances around Southwark for early years audiences, delivering these in partnership with libraries and local companies. ## **Young People’s Theatre (ii)** Young People’s Theatre also receives funding from Jack Petchey to support treats and Leadership awards for the young people. - Workshops with adults to ‘Leave the Day Behind’, providing tools to live in the moment and handle anxiety. - Playing Up! workshops, working on developing play with new parents and their young children which we delivered in partnership with PACT. - Dance with Dementia, a group for people with dementia and their caregivers encouraging activity. - Creando Escenarios, a drama group for adults from Latinx Communities, delivered through Spanish. ## **Street Party** Southwark Council awarded us a second Cultural Celebrations Grant for us to host two community street parties, following the success of our initial parties. ## **ReACT** ReACT is also a youth theatre, funded by Children in Need, primarily working with young people from refugee and migrant backgrounds. Registered company no 03724349 Registered charity no 1077161 **18** **Notes to the financial statements** Annual report and financial statements Year ended 31 March 2024 ## **Blue Elephant Theatre Limited** ## **Intergenerational Festival** We received a project grant from Arts Council England to commission and stage an Intergenerational Festival, comprising of a community play, R&D and seed funding for two emerging writers and a full-scale professional production of ‘Give Me the Sun’ by Mamet Leigh. Owing to COVID and other factors, the production and writing R&Ds were pushed back into 2022-23. ## **A Topsy Turvy Christmas** our NPO funding and grants from the Royal Victoria Hall Foundation and Unity Theatre Trust. ## **Elephantology 2023** The Austin & Hope Pilkington Trust supported us with a grant of £1,000 towards Elephantology, our initiative to support recent graduates and early career artists as they navigate entering the arts after training. This was supplemented by our NPO funding to enable us to support artists with bursaries, residencies, showcase opportunities and mentoring. Blue Elephant’s Christmas production, an original play written by Louise Dickinson and directed by Alice Gentle, was supported by ## **11. Analysis of net assets** |**11. Analysis of net assets**|||| |---|---|---|---| |
Current assets
Current liabilities|**Unrestricted**
**funds**
**31-Mar-24**
**£**
**103,650**
**(5,227)**
**98,423**|**Restricted**
**funds**
**31-Mar-24**
**£**
**27,061**
**-**
**27,061**|**Total**
**funds**
**31-Mar-24**
**£**
**130,711**
**(5,227)**
**125,484**
| |Current assets
Current liabilities|_Unrestricted_
_funds_
_31-Mar-23_
_£_
_116,479_
_(3,468)_
_113,011_|_Restricted_
_funds_
_31-Mar-23_
_£_
_1,570_
_-_
_1,570_|_Total_
_funds_
_31-Mar-23_
_£_
_118,049_
_(3,468)_
_114,581_| ## **12. Other financial commitments** At 31 March 2024, the Charity had no other financial commitments or contingent liabilities. ## **13. Trustee remuneration** During the year, no Trustee received any remuneration (2023: £Nil). No members of the Board of Trustees received reimbursement of expenses related to attendance at trustee meetings (2023: £Nil). ## **14. Related party transactions** There were no related party transactions in the current year (2023: £Nil). Registered company no 03724349 Registered charity no 1077161 **19**