Company number: 03995686 Charity Number: 1084300
## Stagetext
Annual Report and financial statements For the year ended 31 March 2022
Stagetext
## Contents
For the year ended 31 March 2022
Reference and administrative information ...................................................................................... 1 A note from our Chair .................................................................................................................... 3 Trustees’ annual report .................................................................................................................. 4 Independent examiner’s report .................................................................................................... 20 Statement of financial activities (incorporating an income and expenditure account) ................... 22 Balance sheet ............................................................................................................................... 23 Statement of cash flows ................................................................................................................ 24 Notes to the financial statements ................................................................................................. 25
Stagetext
## Reference and administrative information
## For the year ended 31 March 2022
Company number 03995686 Country of incorporation United Kingdom Charity number 1084300 Country of registration England & Wales Registered office and 81 County Street, London SE1 4AD operational address
Trustees Trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows:
Robin Saphra Chair Rachel Jele Vice Chair Sarah Bradley Treasurer Charlotte Bayley Jackie Elliman Tim Hardy Matthew Johnston Rebecca Morris Christopher Reid Jessica Ryan-Ndegwa Appointed 17 May 2021 Nina Thomas Key management Melanie Sharpe Chief Executive personnel Liz Hilder Secretary Bankers CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ Solicitors Harold Benjamin Hill House 67-71 Lowlands Road Harrow Middlesex HA1 3EQ
1
Stagetext
## Reference and administrative information
For the year ended 31 March 2022
Independent Fleur Holden FCA examiner Sayer Vincent LLP Chartered Accountants Invicta House 108-114 Golden Lane LONDON EC1Y 0TL Insurance Gordon & Co. brokers 2 Sekforde Court 217 St John Street LONDON EC1V 4LY
2
Stagetext
## Trustees’ annual report
For the year ended 31 March 2022
## A note from our chair
This year marked the welcome return of live theatre and events, as the country began to emerge from the lockdowns of the previous years.
The impact of the pandemic will continue to be seen for years to come, on both audiences and cultural professionals. However, I was heartened to see that the number of captioned theatre performance has almost returned to pre-pandemic levels, and that the demand for live subtitling of unscripted events continues to grow.
By contrast, the amount of accessible digital works has decreased, because of the return of inperson events. Our challenge now is to encourage the cultural sector to continue to offer online access alongside in-person events, so that the accessibility gains made in 2020, particularly for audiences outside of large cities, are not lost.
This year was the first of our refreshed five-year strategy, with renewed emphasis on user-led advocacy, technology and research, alongside our services offer. It was a year of preparation: we restructured the staff team ready for 2022/23, and prepared the ground for a new way of working.
We secured funding from the DCMS Culture Recovery Fund round 2 to improve and automate our booking systems, with the aim of freeing up staff time for advocacy. We also secured funding from Innovate UK to look at the future of theatre captioning in virtual and immersive spaces, so we can be ready to respond to the ever-innovative cultural sector.
Our small team have been working remotely for most of the year, and have managed admirably with the changes in demand and the challenge of working with new systems. I was delighted to see everyone together at The Barbican to celebrate the launch of ‘Captions Speak Louder’, our National Lottery Heritage Fund supported archive exhibition. On behalf of the Board, I’d like to thank our CEO Melanie Sharpe, along with the whole Stagetext team.
Thank you to our major funder, Arts Council England; to our skilled and loyal freelancers; as well as to the many organisations and individuals who continue to support Stagetext.
Robin Saphra Chair of the Board of Trustees Dated: 31 October 2022
3
Stagetext
## Trustees’ annual report
For the year ended 31 March 2022
The trustees present their report and the financial statements for the year ended 31 March 2022.
Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association, the requirements of a directors’ report as required under company law, and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.
## Objectives and activities
The charity’s objects are to relieve the needs of people by promoting access to arts and entertainment and, in particular but not exclusively, to relieve the needs of people who are deaf, deafened or hard of hearing by the provision of text generation systems.
Our vision is of a society where deaf, deafened and hard of hearing people have equal access to culture. Our mission is to advocate for and deliver equal access to culture for deaf, deafened and hard of hearing people, in particular (but not exclusively) through high quality captions, live subtitles and digital subtitles.
We use technology to provide deaf audiences with access to arts and culture, and train arts and cultural professionals to welcome deaf audiences to their venues. We advocate for equality of access, and support organisations to make their work accessible through the use of:
- Theatre captioning: Theatre captions are similar to television subtitles and give people who are deaf access to live performance. All of the actors’ words appear on a screen placed next to the stage or in the set, or on a portable device such as a tablet, at the same time as they are spoken or sung. Also included is additional information such as speaker names, sound effects and offstage noises. This can now be provided by a Stagetext trained captioner either in-person at a venue, or remotely for live stream.
- Live subtitling: Live subtitling can be used for unscripted or improvised live performances, lectures, conferences, talks and tours giving deaf people the same access as their peers in real time. With live subtitling, a speech-to-text reporter transcribes every word a speaker says using a special electronic shorthand keyboard which allows them to type phonetically. The words are then immediately converted back into English text by computer software and this text is then relayed to the audience via a digital display, overlaid over presentations, or on a hand-held screen. This can be provided in person or remotely, including for online platforms.
- Digital subtitling: Digital subtitles are accessible subtitles for pre-recorded video content. We use these for videos shown as part of exhibitions, pre-recorded theatre performances, or any online video.
4
Stagetext
## Trustees’ annual report
For the year ended 31 March 2022
## Our activities and achievements during 2021/22
2021/22 was the first year of a five-year refreshed business planning strategy. The current business plan, “Advocacy for Quality & Equality (part 1)” focuses on 2021/22 – 2022/23. This twoyear plan is based on a revised strategy, delivering the same outcomes as the previous plan (“Captions Speak Louder”), with a renewed emphasis on advocacy, research and technology.
Within this plan we grouped our activities under four priorities:
- 1.Widening access provision.
- 2.Developing and understanding our audiences.
- 3.Underpinning our work.
- 4.Growing our resources.
## UNDER OUR FIRST PRIORITY – WIDENING ACCESS PROVISION
In 2021/22 we made 1,714 performances, talks, tours and films accessible and worked directly with 268 cultural organisations. This represents a 10% increase on works made accessible in comparison to 2020/21, in spite of most in-person theatre performances and events being cancelled due to the Covid-19 pandemic until restrictions were removed in July 2021.
## Theatre:
In 2021/22, we captioned 296 theatre performances, which is close to our pre-pandemic target of 320 performances captioned per year. This is a significant achievement given most theatres were closed for the first quarter. There were concerns within the access world that accessible performances would not be prioritised when theatres reopened: for captioned performances at least, this was not borne out. We worked with 94 venues, including 12 that were new to us. 42 captioned performances were staged by touring companies. 34% of performances took place outside of London.
Shows captioned included:
- Constellations at Vaudeville Theatre
- The touring production of Cat on A Hot Tin Roof at venues across England
- Back To The Future at Adelphi Theatre
- 71 Coltman Street at Hull Truck Theatre, which kicked off their 50th year celebration season. We captioned all other shows in this season too.
The majority of performances were captioned in person, with 63 captioned online.
## Live subtitling:
Demand for Live Subtitling quadrupled during 2020/21, and continued to grow in 2021/22, to the extent that was are now live subtitling over six times as many talks as we did pre-pandemic. In 2021/22, we worked with 95 organisations, including 39 new clients, to live subtitle a record 908 talks and conferences. This includes 176 museum-related events by 23 organisations including
5
Stagetext
## Trustees’ annual report
## For the year ended 31 March 2022
The British Museum, National Museums Scotland and Ironbridge Gorge Museums Trust, and 188 talks at conferences hosted by various organisations including The Royal Society, Collections Trust and Museums Association.
We worked on a wide range of literary events such as providing live subtitles for Edinburgh Book Festival, Durham Book Festival and Glasgow Women’s Library. We worked with theatres to provide live subtitles for workshops, courses and events throughout the year including The National Theatre, Derby Theatre and the Royal Shakespeare Company. We also worked with a number of film-related venues/organisations to provide live subtitles for screenings and live Q&As, such as Birds Eye View, Babylon Arts and T A P E Collective, as well as a large number of galleries including the National Gallery, the Tate Modern and Drawing Room.
During 2021/22, the majority of live subtitled events remained online, with the exception of some larger scale conferences and festivals, such as parts of the Museums Association Conference and some of the Edinburgh Book Festival events. All of these onsite events however, were also livestreamed (hybrid) and all of our live subtitling services were delivered using remote speech-totext. We also started providing some live subtitles for tablet tours again at the V&A and the British Library.
We continue to work with and develop our live speech-to-text services with MyClearText to deliver live subtitles across the arts and cultural sector. This allows Stagetext to focus on securing new clients, raising awareness of our services and advocating for better access in more venues.
## Digital:
We actively encourage cultural organisations to make their digital work accessible to deaf, deafened and hard of hearing people. We offer support and advice including producing “top-tip” guides and freely available training to enable venues to subtitle their own short videos on YouTube. Digital work ensures that neither cost nor location present a barrier and can greatly increase reach, as we saw in 2020/21.
Our Digital Programme worked with 79 organisations in 2021/22, to ensure their digital content was accessible to deaf, deafened and hard of hearing viewers. 44 of these organisations were new. We made a total of 510 digital works accessible – a decrease on the record levels of 2020/21 – however, the length of videos remains much longer than pre-pandemic. Stagetext subtitled 20,056 minutes of video footage in 2021/22, an increase of 450% on pre-pandemic levels. This means that longer form works are being made accessible, and also suggests that venues are taking advantage of our training to subtitle short videos in house.
Among others, we worked with Orange Tree Theatre, National Theatre At Home, Soho Theatre, Ullapool Book Festival and WOW Festival.
In February 2022 we held a training session on digital subtitling with the Arts Marketing Association, training 129 cultural professionals from 75 different organisations.
6
Stagetext
## Trustees’ annual report
For the year ended 31 March 2022
## Client feedback
Feedback from arts and cultural venues helps us to improve and develop our services.
Feedback from 2021/22:
- It's an absolute joy to be sharing our captioned shows … we're so grateful for the brilliant training from Stagetext that made it possible! Theatre client, via Facebook
- The team were wonderful to deal with throughout our festival of online events. We were delighted with the outcomes. We were also very impressed by the lengths the subtitlers went to especially in relation to Gaelic place names. Book festival client, via client feedback survey
- Super-interesting stuff from Oliver Webster of @Stagetext at this @AMADigital webinar about subtitling digital content. Did you know: including subtitles on video makes it more ‘sticky’ – and helps folks remember the content more clearly #ArtsForAll #AccessibleContent #a11y Cultural professional, via Twitter
## UNDER OUR SECOND PRIORITY – DEVELOPING AND UNDERSTANDING OUR AUDIENCES:
Audience Figures and impact of Covid-19 on reporting in 2021/22
Our audience figures are captured after year end, through collecting information from venues we have worked with during the year.
In 2020/21, most events took place online, so where data was available, we were able to get accurate information on the number of subtitled views of digital content. This led to us reporting a fourfold increase in audience figures year on year.
In 2021/22, audience figures for Theatre Captioning and Live Subtitling increased, but audience figures for Digital Subtitling significantly decreased, reflecting the trend away from audiences watching digital content, and towards attending in-person events, as the Covid-19 pandemic became less acute.
The total known audience was in fact higher than 2019/20, but the estimated audience was significantly lower. This is primarily because we subtitled fewer long-form videos with a national or international reach. These long-form videos had huge numbers of views during lockdowns in 2020/21, but cultural venues are offering less of this content now that they have reopened.
Total reach: Based on the available data, in 2021/22, work that we captioned or subtitled had a known audience of 352,545, and an estimated audience of 350,375, giving a total reach of 702,920. This is broken down as follows:
Stagetext
## Trustees’ annual report
## For the year ended 31 March 2022
Theatre: There were 4,157 known caption users attending theatre performances, and an estimated audience of a further 174,550, giving total reach of 178,707.
Live Subtitling: There were 44,210 known subtitled views of live subtitled online events, with an estimated further 114,623 subtitled views, giving total reach of 158,833.
Digital: There were 304,178 known subtitled views of pre-recorded content, with an estimated further 61,202 subtitled views, giving total reach of 365,380.
## Outreach:
This year we worked with our User Panel and Ambassadors online, presenting to small community groups on Zoom.
## Captions Speak Louder: Stagetext’s Archive
In 2019/20 we were delighted to secure £95,900 from National Lottery Heritage Fund for “Captions Speak Louder”, a 2-year archive project to mark Stagetext’s 20th anniversary, culminating in an engaging touring exhibition.
Due to the pandemic, this project was put back a year and we launched the exhibition at The Barbican in November 2021, to coincide with Stagetext’s 21[st] anniversary. The exhibition has been touring theatres throughout 2022, and the physical and digital archive has been deposited in the University of Bristol Theatre Collection, to be preserved indefinitely.
## Audience Feedback
Our audience sampling helps us to understand the range of our beneficiaries and the quality of their experience.
## 2021/22 feedback:
- Shellshocked after that amazing performance of #CyranoWestEnd, wow… Thanks @stagetext for captioning this fantastic show and letting us know what songs were playing before it started. #DeafAccess
Caption user, via Twitter
- Such an important point raised by @RoseAylingEllis on #Strictly. Theatre and cinema are not very accessible for #Deaf people. When [Twitter user] and I go, it has to be planned well in advance as captioned/subtitled performances are infrequent. Thank heavens for @Stagetext.
- Caption user, via Twitter
- Excited to watch #AmelieTheMusical at Criterion theatre with @stagetext continuing to do the lord’s work in captioning stage performances! #DeafAccess Caption user, via Twitter
8
Stagetext
## Trustees’ annual report
For the year ended 31 March 2022
## Research into public attitudes to captioning
In October 2021, Stagetext worked with Sapio Research to conduct a survey of over 2,000 people, with the results weighted to be representative of the general population. Two thirds of those surveyed did not describe themselves as deaf, deafened or hard of hearing.
Key findings included:
- Two-thirds (67%) of the public sometimes find it difficult to hear what is happening when watching TV or live performances
- 24% of the general public have captions switched on all the time at home and a further 26% have them on some of the time.
- More than one in ten (12%) of people who don’t have English as their first language also have captions on to help with their understanding of what they are watching.
- Nearly half (46%) said that the number of captioned performances and events was not enough, with 77% saying they are in favour of venues offering more captioned performances.
- If more captioning was offered by live venues, a third (31%) of the general public would be more likely to increase their attendance at live shows.
- Almost half (43%) described captioning as valuable and almost a third (28%) said these venues deserve more funding from grant giving organisations and the government.
- Almost a quarter (21%) felt that it should be a legal requirement for venues to make captions or subtitles available.
- Among those who are not deaf, deafened or hard of hearing, just one in five (20%) found the captions distracting.
Further information on the research can be found here:
https://www.stagetext.org/news/hidden-hard-of-hearing-community-revealed-by-lockdowncaptioning/
## Theatre Access Survey 2021
In 2021 we, along with VocalEyes and the Centre for Accessible Environments, ran a survey of UK theatregoers who use access facilities, services or support.
Over 500 people responded and shared their views on a range of other factors that would influence their decision to return to theatres. They also told us about their experiences of digital theatre, access services online, the accessibility of various online platforms, and whether they would continue to seek out and pay for theatre online in future.
Alongside the survey findings, the report provides an access guide for theatres, key theatre website access information, a directory of access and disability arts organisations and recommended reading.
Key findings included:
- Over 4 out of 5 (82%) said that they would be more likely to visit a theatre that they knew had good access facilities and services.
9
Stagetext
## Trustees’ annual report
For the year ended 31 March 2022
- Since the start of the first lockdown in March 2020 over a half of respondents (54%) – all of whom had been to a theatre in the previous 12 months – had experienced some theatre online.
- For around half of respondents (47%), over half of the online theatre that they came across was inaccessible to them.
The report is available to download at
https://www.stagetext.org/wp-content/uploads/2021/11/Theatre-Access-2021.pdf
## Children and Young People:
We are committed to the provision of captioning and live subtitling, to enable deaf, deafened and hard of hearing children and young people to access arts and culture, alongside their families and peers. Captioning has particular benefits for people for whom English is not their first language, as well as neurodivergent people, and there is evidence of a link between the use of captioning and literacy.
In 2021/22 we captioned 52 shows for children and young people, these included The Lorax (online) at The Old Vic, the touring production of The Lion, The Witch and The Wardrobe at Curve Theatre, and School of Rock at Nottingham Royal Concert Hall.
We live subtitled talks and events aimed at children and young people, including author talks on children’s books at Edinburgh Book Festival, Durham Book Festival and the British Library, and talks aimed at children at the British Museum, WOW Foundation, British Academy and the National Gallery. We also worked with organisations such as the National Theatre, Derby Theatre and The Royal Society on educational programmes for children.
We subtitled 20 CYP focused videos, including full length pantomimes for Panto Online, Marlowe Theatre, and Barmpot theatre.
## UNDER OUR THIRD PRIORITY – UNDERPINNING OUR SERVICES:
## Marketing & Communications:
In November 2021, we held our 21st birthday celebrations at The Barbican, alongside the launch of a public exhibition on Stagetext’s work, based on an archive and oral histories captured as part of the NLHF-funded Captions Speak Louder project. The exhibition began touring the country in March 2022, starting at Derby Theatre.
## Captioning Awareness Week 2021
The centrepiece of this year’s campaign was the results of the Sapio research (see above). This was our most successful PR campaign to date, with 160 pieces of coverage and a potential reach of 26.5m people.
10
Stagetext
## Trustees’ annual report
## For the year ended 31 March 2022
## Highlights included:
- BBC - Young viewers prefer TV subtitles, research suggests https://www.bbc.co.uk/news/entertainment-arts-59259964
- The Times - Young people the biggest readers of subtitles on TV https://www.thetimes.co.uk/article/young-people-the-biggest-readers-of-subtitles-ontv-m9scj7lf5
- Sky News – 'We are breaking through barriers': Calls to expand the use of subtitles in theatres and on television
- https://news.sky.com/story/we-are-breaking-through-barriers-calls-to-expand-theuse-of-subtitles-in-theatres-and-on-television-12472074
The PR campaign was run by Campaign Collective, who took the lead regarding working with external agencies to bring CAW21 to the attention of the general public, including TV coverage on London Live. Campaign Collective also worked with various venues to develop social media engagement.
Visits to the Stagetext website during Captioning Awareness week were 327% higher than an average week.
## Captioning in virtual spaces:
In 2021/22, we secured a grant from Innovate UK (Audience of the Future round 2) for a 3 month project to research how open captions standards for in-person theatre could be applied to hybrid and immersive theatre environments. We worked with Peak Signal, a strategy, delivery and improvement consultancy, to collate existing research and specifications, investigate what existing approaches to theatre captioning could be reproduced in virtual or immersive spaces, and to validate or disprove key concepts.
## UNDER OUR FOURTH PRIORITY – GROWING OUR RESOURCES:
In 2021/22, we secured a grant from the DCMS Culture Recovery Fund round 2 (CRF2) for a 3 month project to develop new ways of working to meet the ongoing high demand for subtitling services we experienced from 2020/21 onwards. Working with Peak Signal, we overhauled our internal processes and created a new online booking form to streamline the process of making a booking. Bookings are now automatically added to our database and can be sent to a delivery partner with a click of a button.
Our new website was launched in October 2021, with improved listings that pull data directly from our database, and information for both deaf audiences and cultural organisations, as well as our new booking form.
During 2021/22 we undertook a staff restructure, to be implemented at the start of 2022/23, in order to better deliver our refreshed strategy, and to expand the capacity of the services team.
11
Stagetext
## Trustees’ annual report
## For the year ended 31 March 2022
We are committed to supporting professional development by ensuring each member of staff has access to both internal and external training. Staff members have individual training plans, which are collated and monitored to ensure equal engagement. Development tools have included mentorship, external training courses and internal progression routes. All staff are encouraged to attend events that Stagetext supports, in order that staff members can advocate for Stagetext, across the spectrum of arts delivery.
## Our aims for next year 2022/23
Under our first priority – widening access provision – we will:
- Support and advise the theatre sector on accessibility, delivering at least 320 captioned theatre performances online or in person.
- Support and advise museums, galleries and festivals on accessibility, delivering at least 650 accessible events over the course of the year.
- Subtitle at least 500 video works a year for the creative and cultural sector.
- Train 10 organisations in deaf awareness and provide front of house training to a further 10 organisations.
## Under our second priority – developing and understanding our audiences – we will:
- Continue to develop our role as the go-to advocacy organisation on all issues relating to access to arts and culture for the deaf, deafened and hard of hearing community within the cultural sector.
- Develop and expand our User Panel into an Ambassador Panel, ensuring Ambassadors across the country are trained and able to represent Stagetext at events throughout the year.
- Develop a new Sector Advisory Group with representatives from the cultural sector and deaf organisations
- Continue the Captions Speak Louder archive project, including touring the exhibition to theatres and engaging with deaf audiences.
- Undertake research into user preferences and collect and disseminate at least 10 case studies.
## Under our third priority – Underpinning our Services – we will:
- Hold the eighth Captioning Awareness Week in November 2022 marking Stagetext’s 22nd anniversary, with a focus on audience experience
- Continue to develop and strengthen our working arrangement with MyClearText in the provision of speech-to-text reporters, to ensure our service is flexible and cost effective, whilst maintaining excellent standards of provision.
- Hold upskilling sessions for speech-to-text reporters and captioners.
- Conduct the Heritage Access Survey in partnership with VocalEyes.
12
Stagetext
## Trustees’ annual report
## For the year ended 31 March 2022
## Under our fourth priority – Growing our Resources – we will:
- Plan to move to fully remote working and/or an office based outside of London in 2023/24
- Continue to make applications to trusts and foundations in support of existing work and new initiatives.
- Continue to review and develop our fundraising strategies, including individual giving and corporate sponsorship.
- Conduct market research and periodic pricing reviews, to ensure our earned income is maximised.
- Continue to ensure that staff are appreciated, and properly remunerated, and new skills are brought in where necessary.
- Continue to develop and review our diversity and inclusion policies, including training for staff and Board.
## Public benefit statement
We have referred to the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.
Stagetext’s work benefits people who are deaf, deafened and hard of hearing.
The trustees have considered this matter and concluded:
- 1.That the aims of the organisation continue to be charitable.
- 2.That the aims and the work done give identifiable benefits to the charitable sector and both directly and indirectly to individuals in need.
- 3.That the benefits are for the public, are not unreasonably restricted in any way and certainly not by any ability to pay; and
- 4.That there is no detriment or harm arising from the aims or activities.
## Financial review
Stagetext reports overall income of £978,690 in 2021/22 compared to £819,055 in 2020/21. The overall result for the year reports net incoming resources of £22,043 (2020/21 net incoming resources of £83,993) as shown in the charity’s Statement of Financial Activities (SoFA). The overall financial performance reflects the following key aspects:
Fee income in respect of our services of £612,726 increased in 2021/22 compared to £358,766 in 2020/21. This is predominantly due to the return of in-person theatre performances and the continued growth of Live Subtitling services.
The financial performance from Theatre captioning and speech-to-text (STTR) services generated income of £207,441 compared to £23,227 in 2020/21, when most theatres were closed.
13
Stagetext
## Trustees’ annual report
For the year ended 31 March 2022
The financial performance from non-theatre captioning and STTR services (Live Subtitling) generated income of £314,678 compared to £231,885 in 2020/21.
The financial performance from Digital subtitling services generated income of £87,479, a decrease compared to £103,354 in 2020/21.
During the year Stagetext secured a total of £83,606 specific project income grants from trusts and foundations which contributed towards specific projects to improve internal systems and to explore theatre captioning in virtual immersive spaces.
Stagetext received £6,410 from donations and gifts including individual donors compared to £9,417 in 2020/21. We continue to develop this area of fundraising to support our general programme.
Total expenditure attributed to generating new voluntary and charitable funds was £15,883 compared to £10,047 in 2020/21.
Total expenditure attributed to governance costs associated with meeting the charity’s strategic administration and statutory requirements was £7,740 compared to £11,500 in 2020/21.
Overall funds stand at £289,839 at 31 March 2022 which is an increase from £267,796 at 31 March 2021. Unrestricted reserves stand at £289,839 (£266,740 at 31 March 2021).
Overall financial performance comprises separate funds, and further details on the financial position can be gained by reference to the balance and movements on each fund which are described in the reserves policy.
## Principal Funding sources
During the year Stagetext continued to be funded by Arts Council England (ACE) with 2021/22 being the fourth year of the NPO Business Plan for the period 2018-22. As well as ACE funding, we received the second instalment of the previously secured grant for the archive project from the National Lottery Heritage Fund. Other successes included DCMS Culture Recovery Fund round 2 and Innovate UK (Audience of the Future 2).
ACE NPO funding was extended for a year due to the pandemic, and is secured for 2022/23. This year Stagetext developed its application to become an ACE Investment Principle Support Organisation (IPSO) for 2023/24-2025/26, based on its revised vision.
Stagetext’s income continues to come from a range of sources, including earned income from its captioning, STTR and digital services. This is supported by grants from statutory bodies, charitable trusts and foundations, and donations from individuals and corporate supporters.
14
Stagetext
## Trustees’ annual report
For the year ended 31 March 2022
## Investment policy
The trustees have decided that the current policy of holding funds in UK deposit accounts should continue. The charity has moved its investments into two deposit accounts to improve the rate of interest it receives on some of its reserves whilst also making it easier to be flexible if necessary. Apart from retaining a prudent amount in reserves each year, most of the charity’s funds are required in the short term so there are few funds available for long term investment. As and when funds become available the Board of Trustees will seek professional advice on the most appropriate and financially beneficial policy.
## Fundraising
Most of Stagetext’s income comes from statutory and major grants with small amounts coming from Trusts and donations. We undertake very little public fundraising. This year we worked with professional fundraisers Achates Philanthropy on specific applications. Stagetext observes and complies with the relevant fundraising regulations and codes. During the year there was no noncompliance with these regulations and codes and Stagetext has received no complaints relating to its fundraising practices.
## Reserves policy and going concern
The reserves policy and position are reviewed by the Board on a regular basis. Strategic reviews are developed, and the financial and funding position is monitored to ensure that sufficient reserves are held and sustained on an on-going basis.
The Board of Trustees have reviewed the general reserves policy and agreed that the current general reserves policy of three months of key operating costs, £120,000, is sufficient.
The trustees have reviewed financial budgets over the next 12 months and are confident that Stagetext is a going concern and financially viable up to that date and beyond. Budgets are set in advance of the financial year and the forecast is updated periodically.
Restricted funds: these funds represent grants provided to fund specific expenditure in agreed areas of delivery. Restricted funds at 31 March 2022 were £nil.
Unrestricted funds : it is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to three month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
Designated funds : these are funds which the Board of Trustees has designated to meet future risks and commitments as part of their strategic vision and risk assessment for sustainability. The funds
15
Stagetext
## Trustees’ annual report
## For the year ended 31 March 2022
include a strategic business development fund for development activities to ensure our long-term viability and sustainability and are held as follows: tangible fixed assets (£10,923); strategic business development (£30,000); access adaptions (£15,000); delivery support for our talks programme (£20,000); and advocacy strategy & implementation (£55,000). The balance of these funds at the end of the year was £130,923 (2020/21 £130,538).
General funds: these funds represent the free reserves available to the charity which can be used for any purpose within its charitable objects. These costs can include programme delivery, income generation, management and administration costs as well as any shortfalls in restricted fund activity if required. The balance of these funds at the end of the year was £158,916 (2020/21 £136,202).
## Risk management
The Board is required to assess the major risks to which the charity is exposed and establish systems to mitigate these risks. The Board is also required to ensure the charity complies fully with the law and eliminates all risk of breaching the law. Stagetext has a risk management and legal compliance strategy that comprises identification of risks, evaluation of their potential impact, design of risk management and legal compliance programmes followed by implementation and review points. The Senior Management team reviews progress regularly and a comprehensive risk register is maintained which is reviewed at each meeting of the Board of Trustees. The register includes both strategic and operational risks. The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.
## Employees
The people employed by Stagetext are the most valuable assets of the organisation and the successful organisation is the one able to secure the maximum potential of its employees. Underpinning the aims which are designed to achieve the vision of Stagetext, there are a number of values we seek to promote.
We want to ensure there is an overriding ethos by which everyone is influenced. This means we want to ensure there are the same standards and expectations of trustees, staff and volunteers.
The ethos of Stagetext is derived from the following characteristics of the organisation:-
- Creation by three people with different kinds of deafness who were each frustrated by the lack of satisfactory access to arts and entertainment.
- Awareness that diversity in hearing loss is natural and should be more readily appreciated.
- Recognition that arts and entertainments have a positive impact on the quality of human life.
- Belief that society has a duty to involve people with hearing loss in all its activities by providing the preferred type of assistance.
16
Stagetext
## Trustees’ annual report
For the year ended 31 March 2022
- Commitment to its core charitable purpose of raising awareness of the value of captioning and subtitling in increasing access.
- Commitment to providing captioning, live and digital subtitling services of the highest quality.
Both office staff and freelance personnel must demonstrate their commitment to the ethos of Stagetext by being qualified, or by undertaking training in deaf awareness, communication tactics, British Sign Language, Sign-Supported English, lip-speaking and similar skills as required. Office staff and freelance personnel will similarly be expected to show their commitment to a relationship of mutual respect between hearing and deaf, deafened and hard of hearing people. Stagetext is committed to thinking laterally and imaginatively as to how it may recruit trustees, staff, freelance personnel and volunteers who demonstrate its ethos.
Stagetext is committed to equal opportunities and making it happen in practice. As an example, we advertise posts widely and ask applicants to complete an anonymous equal opportunities form so that we can ensure that our job opportunities are reaching all sectors of our community.
Stagetext believes in continuing professional development for all staff. We endeavour to ensure that all employees receive appropriate training both at the start of their job and during their continuing employment with us. We regularly review the performance of all our employees. They receive supervision from their line manager on a quarterly basis and a formal appraisal once a year. We undertake this exercise to maximise the potential of all employees and to highlight areas for development and training.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
Trustees are recruited through an open application process, with recruitment drives targeted for a specific skill requirement or sector knowledge where needed. Candidates are supplied with a recruitment pack which includes full details on the organisation, what the role of Trustee entails, and the commitment required. Shortlisted candidates are initially interviewed by a small group of Trustees and the CEO, and then recommended to the Board for appointment. All Trustees receive deaf awareness training following appointment.
As of 1 April 2022, we have a new staffing structure. The CEO is supported by the Head of Advocacy and Research (Deputy CEO), the Head of Systems and Services, and part-time Finance Manager, who is shared with our sister charity VocalEyes. The CEO manages this senior management team, and the Head of Advocacy and Research manages the Content and Engagement Manager, who in turn manages the Marketing and Administration Coordinator. The Head of Systems and Services manages the three Programme Managers (Training and Theatre Programmes Manager, Live Subtitling Manager, Digital Subtitling Manager), who each in turn manage a pool of highly experienced and specialist freelancers to deliver our programme of work.
17
Stagetext
## Trustees’ annual report
For the year ended 31 March 2022
## Structure, governance and management
Stagetext is a registered charity and company limited by guarantee, governed by its Memorandum and Articles of Association, incorporated on 17 May 2000 and amended by special resolution on 30 November 2000, 31 July 2006 and 29 April 2009.
Stagetext was founded to increase access to the arts for people who are deaf, deafened or hard of hearing. The founding trustees were Peter Pullan, Merfyn Williams and Geoff Brown and despite none of its founding Trustees still serving on its board, Stagetext remains a deaf-led organisation with six of its eleven trustees having a hearing loss.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Robin Saphra Chair Rachel Jele Vice Chair Sarah Bradley Treasurer Charlotte Bayley Jackie Elliman Tim Hardy Matthew Johnston Rebecca Morris Christopher Reid Jessica Ryan-Ndegwa Appointed 17 May 2021 Nina Thomas
Stagetext aims to comply with the Charity Governance Code as endorsed by the National Hub of Expertise in Governance. We aim to ensure that Stagetext policy, practice and procedures satisfy the principles that underpin the Code. The trustees regularly review the make-up of the Board to identify skills that are needed. New trustees undergo an induction and training programme which includes experience of Stagetext service delivery in action and written information designed to prepare them for effective participation on the Board.
The Finance & General Purposes Committee is a formal committee of the Board of Trustees of Stagetext set up to advise the Chief Executive and the Board of Trustees on financial, personnel and legal matters and to ensure that Stagetext is run on a sound and business-like basis. The committee meets quarterly.
The Chief Executive is responsible for the day-to-day management of Stagetext’s operations and for the implementation of policies agreed by the Board. A working group of trustees is responsible for the evaluation of the Chief Executive’s performance.
18
Stagetext
## Trustees’ annual report
## For the year ended 31 March 2022
All staff are paid above the London living wage. Any salary increases for staff, including the Chief Executive are reviewed and set by the Board on an annual basis. All increases are in line with inflation rates and cultural sector salaries.
## Statement of responsibilities of the trustees
The trustees (who are also directors of Stagetext 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 Accounting Practice).
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 of the incoming resources and application of resources, including the income and expenditure, of the charitable company 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 and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation
The trustees are responsible for keeping adequate 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. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of 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 United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
The trustees’ annual report has been approved by the trustees on 31 October 2022 and signed on their behalf by:
Robin Saphra Chair of the Board of Trustees
19
Independent examiner’s report
To the trustees of
## Stagetext
I report to the trustees on my examination of the accounts of Stagetext for the year ended 31 March 2022.
This report is made solely to the trustees as a body, in accordance with the Charities Act 2011. My examination has been undertaken so that I might state to the 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 trustees as a body, for my examination, for this report, or for the opinions I have formed.
## Responsibilities and basis of report
As the charity trustees of the Company you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
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, I report in respect of my examination of the Company’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011 (‘the 2011 Act’).
## Independent examiner’s statement
Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accounts in England and Wales, which is one of the listed bodies.
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:
- 1 Accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
- 2 The accounts do not accord with those records; or
- 3 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
- 4 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.
20
Independent examiner’s report
To the trustees of
## Stagetext
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.
Fleur Holden
The Institute of Chartered Accountants in England and Wales Address: Sayer Vincent LLP, Invicta House, 108-114 Golden Lane, London, EC1Y 0TL Date: 24 November 2022
21
Stagetext
Statement of financial activities (incorporating an income and expenditure account)
## For the year ended 31 March 2022
|Unrestricted
£
280,128
207,441
314,678
87,479
3,128
595
1,635|Designated
(unrestricted)
£
-
-
-
-
-
-
-|Restricted
£
83,606
-
-
-
-
-
-|2022
Total
£
363,734
207,441
314,678
87,479
3,128
595
1,635|Unrestricted
£
317,459
23,227
231,885
103,354
300
632
-|Designated
(unrestricted)
£
-
-
-
-
-
-
-|Restricted
£
142,198
-
-
-
-
-
-|2021
Total
£
459,657
23,227
231,885
103,354
300
632
-|
|---|---|---|---|---|---|---|---|
|895,084|-|83,606|978,690|676,857|-|142,198|819,055|
|15,883
291,982
410,180
145,259
8,381
300|-
-
-
-
-
-|-
47,824
26,412
10,204
222
-|15,883
339,806
436,592
155,463
8,603
300|10,047
58,453
353,736
166,632
5,052
-|-
-
-
-
-
-|-
9,665
49,794
29,698
51,985
-|10,047
68,118
403,530
196,330
57,037
-|
|871,985|-|84,662|956,647|593,920|-|141,142|735,062|
|23,099
(385)|-
385|(1,056)
-|22,043
-|82,937
(78,905)|-
78,905|1,056
-|83,993
-|
|22,714
136,202|385
130,538|(1,056)
1,056|22,043
267,796|4,032
132,170|78,905
51,633|1,056
-|83,993
183,803|
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 16a to the financial statements.
22
Stagetext
## Balance sheet
|Balance sheet|Balance sheet||||
|---|---|---|---|---|
|As at 31 March 2022|||Company|no. 03995686|
|Note
£
Fixed assets:
10
Current assets:
11
125,831
282,393
408,224
Liabilities:
12
(129,308)
15
130,923
158,916
Total unrestricted funds
Total assets less current liabilities
Debtors
Restricted income funds
Unrestricted income funds:
Designated funds
The funds of the charity:
Creditors: amounts falling due within one year
Net current assets
Total net assets
Cash at bank and in hand
Tangible assets
General funds
Total charity funds||2022
£
10,923|£
126,479
249,620|2021
£
10,538|
|||10,923
278,916||10,538
257,258|
||408,224
(129,308)||376,099
(118,841)||
||130,923
158,916||130,538
136,202||
|||289,839
289,839||267,796
267,796|
|||-
289,839||1,056
266,740|
||||||
|||289,839||267,796|
The opinion of the directors is that the company is entitled to the exemptions conferred by Section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge the following responsibilities:
- (i) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476
- (ii) The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
Approved by the trustees on 31 October 2022 and signed on their behalf by
Robin Saphra Chair
Sarah Bradley Treasurer
23
Stagetext
## Statement of cash flows
## For the year ended 31 March 2022
|Cash flows from operating activities
Net income for the reporting period
(as per the statement of financial activities)
Depreciation charges
Interest from investments
Decrease in debtors
Increase/(decrease) in creditors
Net cash provided by operating activities
Analysis of cash and cash equivalents and of net debt
Cash at bank and in hand
Total cash and cash equivalents
Cash and cash equivalents at the end of the year
Net cash provided by / (used in) financing
activities
Change in cash and cash equivalents in the year
Cash flows from financing activities:
Cash and cash equivalents at the beginning of the
Net cash used in investing activities
Cash flows from investing activities:
Interest from investments
Purchase of fixed assets|£
£
22,043
5,752
(595)
648
10,467
38,315
595
(6,137)
(5,542)
-
32,773
249,620
282,393
At 1 April
2021
Cash flows
£
£
249,620
32,773
249,620
32,773
2022|£
£
22,043
5,752
(595)
648
10,467
38,315
595
(6,137)
(5,542)
-
32,773
249,620
282,393
At 1 April
2021
Cash flows
£
£
249,620
32,773
249,620
32,773
2022|£
£
83,993
6,773
(632)
1,062
(7,943)
83,253
632
(2,579)
(1,947)
-
81,306
168,314
249,620
Other non-
cash
changes
At 31
March
2022
£
£
-
282,393
-
282,393
2021|£
£
83,993
6,773
(632)
1,062
(7,943)
83,253
632
(2,579)
(1,947)
-
81,306
168,314
249,620
Other non-
cash
changes
At 31
March
2022
£
£
-
282,393
-
282,393
2021|
|---|---|---|---|---|
||595
(6,137)||632
(2,579)||
||At 1 April
2021
£
249,620||Other non-
cash
changes
£
-||
|||32,773
249,620||81,306
168,314|
|||282,393||249,620|
|||Cash flows
£
32,773||At 31
March
2022
£
282,393|
||249,620|32,773|-|282,393|
24
Stagetext
Notes to the financial statements
## For the year ended 31 March 2022
## 1 Accounting policies
## a) Statutory information
Stagetext is a private company limited by guarantee and is incorporated in England and Wales.
The registered office address is 81 County Street, London, SE1 4AD, England. The liability of each member in the event of a winding up is limited to £1.
## b) Basis of preparation
The financial statements have been prepared in accordance with 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) - (Charities SORP FRS 102), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.
In applying the financial reporting framework, the trustees have made a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below.
## c) Public benefit entity
The charity meets the definition of a public benefit entity under FRS 102.
## d) Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
## e) Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.
## f) Donations of gifts, services and facilities
Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution.
On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
## g) Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
25
Stagetext
Notes to the financial statements
## For the year ended 31 March 2022
## 1 Accounting policies (continued)
## h) Fund accounting
Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.
Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular purposes.
## i) Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
- Costs of raising funds relate to the costs incurred by the charity in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose
- Expenditure on charitable activities includes the costs of delivering services, exhibitions and other educational activities undertaken to further the purposes of the charity and their associated support costs
- Other expenditure represents those items not falling into any other heading
- Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
## j) Allocation of support costs
- Resources expended are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned on the following basis which are an estimate, based on staff time, of the amount attributable to each activity.
Where information about the aims, objectives and projects of the charity is provided to potential beneficiaries, the costs associated with this publicity are allocated to charitable expenditure.
Where such information about the aims, objectives and projects of the charity is also provided to potential donors, activity costs are apportioned between fundraising and charitable activities on the basis of area of literature occupied by each activity.
||Theatre captioning|29%|
|---|---|---|
||Non-theatre captioning|36%|
||Digital subtitling|14%|
||Training & consultancy|1%|
||Equipment sales, hires & maintenance|0%|
||Raising funds|2%|
||Governance costs|1%|
||Support costs|19%|
Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity’s activities.
## k) Operating leases
Rental charges are charged on a straight line basis over the term of the lease.
## l) Tangible fixed assets
Items of equipment are capitalised where the purchase price exceeds £500. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.
Where fixed assets have been revalued, any excess between the revalued amount and the historic cost of the asset will be shown as a revaluation reserve in the balance sheet.
Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:
- Leasehold improvements
- Leasehold improvements 5 years
- Office and computer equipment 3 years
26
Stagetext
Notes to the financial statements
## For the year ended 31 March 2022
## 1 Accounting policies (continued)
## m) Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## n) Short term deposits
Short term deposits includes cash balances that are invested in accounts with a maturity date of between 3 and 12 months.
- o) Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term 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.
## p) Creditors and provisions
Creditors and provisions 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. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## q) Financial instruments
The charity only has financial 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## r) Pensions
The charity makes payments to defined contribution pension schemes on behalf of employees. The assets of the schemes are held separately from those of the charitable company in independently administered funds. The pension cost charge represents contributions payable to the funds during the year. The charity has no liability under the schemes other than the payment of those contributions.
## 2 Income from grants, donations & gifts
|Arts Council England
The Foyle Foundation
Coronavirus Job Retention Scheme
Awards for All (Engaging Older People)
National Lottery Heritage Fund
Coronavirus Community Support Fund
ACE Cultural Recovery Fund
Innovate UK
Donations and gifts
Donated services|Unrestricted
£
273,718
-
-
-
-
-
-
-
6,410
-|£
-
-
-
-
19,118
-
33,277
31,211
-
-
Restricted|2022
Total
£
273,718
-
-
-
19,118
-
33,277
31,211
6,410
-|Unrestricted
£
273,718
15,000
19,324
-
-
-
-
-
9,417
-|£
-
-
-
10,000
33,554
9,836
88,808
-
-
-
Restricted|2021
Total
£
273,718
15,000
19,324
10,000
33,554
9,836
88,808
-
9,417
-|
|---|---|---|---|---|---|---|
||280,128|83,606|363,734|317,459|142,198|459,657|
## 3 Income from investments & other income
|Interest receivable
Other income (relating to insurance
claim for damaged equipment)|Unrestricted
£
595
1,635|£
-
-
Restricted|2022
Total
£
595
1,635|Unrestricted
£
632
-|£
-
-
Restricted|2021
Total
£
632
-|
|---|---|---|---|---|---|---|
||2,230|-|2,230|632|-|632|
All income from investments and other income is unrestricted.
27
Stagetext
## Notes to the financial statements
## For the year ended 31 March 2022
## 4a Analysis of expenditure (current year)
|Theatre
captioning
& STT
services
£
Staff costs (Note 6)
57,861
Captioner fees & expenses
113,336
Technical fees & expenses
10,696
Speech-to-text fees & expenses
45,047
Digital subtitling
-
Marketing, advocacy & promotions
-
Training & consultancy
39,273
Equipment
594
Development costs
4,824
Premises & office running costs
4,892
Other staff related costs
-
IT support
-
Legal & professional fees
-
Accountancy services
-
Insurance
-
Independent examiner
-
Board expenses, access & recruitme
-
Fundraising costs
-
Depreciation
403
Miscellaneous
-
276,926
Support costs
60,248
Governance costs
2,632
Total expenditure 2022
339,806
Total expenditure 2021
68,118||Charitable activities|Charitable activities|Charitable activities||Raising
funds
£
12,508
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
3,375
-
-|Governance
£
-
-
-
-
-
-
-
-
-
-
-
-
-
400
-
3,800
3,540
-
-
-|Support
costs
£
94,350
-
-
-
-
36,747
-
158
-
16,046
10,497
2,704
9,457
-
2,403
-
-
-
4,751
87|2022
Total
£
279,751
113,636
12,295
305,280
69,611
36,747
53,571
752
4,824
30,385
18,277
2,704
9,457
400
2,403
3,800
3,540
3,375
5,752
87|2021
Total
£
302,534
13,826
1,404
179,981
82,353
24,741
51,985
1,411
2,478
34,731
8,740
3,270
7,064
-
2,307
4,642
6,858
-
6,513
224|
|---|---|---|---|---|---|---|---|---|---|---|
|||Non-theatre
captioning
& STT
Services
£
60,298
-
1,599
260,233
-
-
6,899
-
-
5,061
7,780
-
-
-
-
-
-
-
403
-|Digital
subtitling
£
48,480
-
-
-
69,611
-
6,899
-
-
4,386
-
-
-
-
-
-
-
-
195
-|Training &
consultancy
£
6,254
-
-
-
-
-
500
-
-
-
-
-
-
-
-
-
-
-
-
-|Equipment
sales, hires &
maintenance
£
-
300
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-||||||
||276,926
60,248
2,632|342,273
90,372
3,947|129,571
24,808
1,084|6,754
1,772
77|300
-
-|15,883
-
-|7,740
-
(7,740)|177,200
(177,200)
-|956,647
-
-|735,062
-
-|
||339,806|436,592|155,463|8,603|300|15,883|-|-|956,647|735,062|
||68,118|403,530|196,330|57,037|-|10,047|-|-|735,062||
28
Stagetext
## Notes to the financial statements
## For the year ended 31 March 2022
## 4b Analysis of expenditure (prior year)
|Staff costs (Note 6)
Captioner fees & expenses
Technical fees & expenses
Speech-to-text fees & expenses
Digital subtitling
Marketing, advocacy & promotions
Training & consultancy
Equipment
Development costs
Premises & office running costs
Other staff related costs
IT support
Legal & professional fees
Accountancy services
Insurance
Independent examiner fees
Board expenses, access & recruitment costs
Fundraising costs
Depreciation
Miscellaneous
Support costs
Governance costs
Total expenditure 2021||Charitable activities|Charitable activities|Charitable activities||Raising
funds
£
10,103
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(56)|Governance
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
4,642
6,858
-
-
-|Support
costs
£
136,413
-
-
-
-
24,741
-
1,411
-
34,731
3,060
3,270
7,064
-
2,307
-
-
-
6,513
280|2021
Total
£
302,534
13,826
1,404
179,981
82,353
24,741
51,985
1,411
2,478
34,731
8,740
3,270
7,064
-
2,307
4,642
6,858
-
6,513
224|
|---|---|---|---|---|---|---|---|---|---|
||T~~h~~eatre
captioning
& STT
services
£
30,313
13,826
1,193
4,895
-
-
-
-
2,478
-
-
-
-
-
-
-
-
-
-
-|Non-t~~h~~eatre
captioning
& STT
Services
£
74,217
-
211
175,086
-
-
-
-
-
-
5,680
-
-
-
-
-
-
-
-
-|Digital
subtitling
£
46,436
-
-
-
82,353
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|Training &
consultancy
£
5,052
-
-
-
-
-
51,985
-
-
-
-
-
-
-
-
-
-
-
-
-|Equipment
sales, hires &
maintenance
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|||||
||52,705
14,723
690|255,194
140,861
7,475|128,789
64,206
3,335|57,037
-
-|-
-
-|10,047
-
-|11,500
-
(11,500)|219,790
(219,790)
-|735,062
-
-|
||68,118|403,530|196,330|57,037|-|10,047|-|-|735,062|
29
Stagetext
## Notes to the financial statements
## For the year ended 31 March 2022
- 5 Net income for the year
This is stated after charging:
|This is stated after charging:|||
|---|---|---|
||2022|2021|
||£|£|
|Depreciation|5,752|6,773|
|Operating lease rentals payable:|||
|Property|24,960|24,960|
|Independent Examiner's Fee (excluding VAT):|||
|Independent Examination|3,800|3,600|
- 6 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel
Staff costs were as follows:
|Staff costs were as follows:|||
|---|---|---|
|Salaries and wages
Social security costs
Employer’s contribution to defined contribution pension schemes|2022
£
248,409
21,412
9,930|2021
£
271,473
22,842
8,219|
||279,751|302,534|
No employee earned more than £60,000 during the year 2022 or during the prior year 2021.
The total employee benefits (including pension contributions and employer's national insurance) of the key management personnel were £108,356 (2021: £96,189).
The charity trustees were neither paid nor received any other benefits from employment with the charity in the year (2021: £nil). No charity trustee received payment for professional or other services supplied to the charity (2021: £nil).
Trustees' expenses represents the payment or reimbursement of travel and subsistence costs totalling £nil (2021: £nil) incurred by no (2021: 0) members relating to attendance at meetings of the trustees.
## 7 Staff numbers
The average number of employees (head count based on number of staff employed) during the year was 8 (2021: 11).
## 8 Related party transactions
There are no related party transactions to disclose for this financial year (2021: none).
There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.
## 9 Taxation
The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
30
Stagetext
Notes to the financial statements
## For the year ended 31 March 2022
## 10 Tangible fixed assets
|Tangible fixed assets||||
|---|---|---|---|
|At the end of the year
Cost
At the start of the year
At the start of the year
Additions in year
Depreciation
At the end of the year
Net book value
At the end of the year
At the start of the year
Charge for the year|Leasehold
improvements
£
9,713
-|Office &
computer
equipment
£
24,614
6,137|Total
£
34,327
6,137|
||9,713|30,751|40,464|
||4,371
1,943|19,418
3,809|23,789
5,752|
||6,314|23,227|29,541|
||3,399|7,524|10,923|
||5,342|5,196|10,538|
All of the above assets are used for charitable purposes.
## 11 Debtors
|Debtors|||
|---|---|---|
|Trade debtors
Other debtors
Prepayments
Accrued income|2022
£
64,827
8,013
9,606
43,385|2021
£
64,316
10,329
7,296
44,538|
||125,831|126,479|
12 Creditors: amounts falling due within one year
|Creditors: amounts falling due within one year|||
|---|---|---|
|Taxation and social security
Accruals
Deferred income (note 13)
Trade creditors|2022
£
67,806
20,180
27,233
14,089|2021
£
67,386
10,008
7,463
33,984|
||129,308|118,841|
31
Stagetext
Notes to the financial statements
## For the year ended 31 March 2022
## 13 Deferred income
Deferred income comprises grant income received in advance and is recognised as income in the period to which it relates.
|Balance at the beginning of the year
Amount released to income in the year
Amount deferred in the year
Balance at the end of the year|2022
£
33,984
(23,045)
3,150|2021
£
27,158
(27,158)
33,984|
|---|---|---|
||14,089|33,984|
## 14 Pension scheme
Aviva is a Group Personal Pension (GPP) Scheme and is a qualifying scheme for auto enrolment, this is the workplace pension scheme with six active members and no amounts owed at year end (2021: £nil). Aviva Friends Life is a Group Stakeholder Pension Scheme with two active members and £nil owed at year end (2021: £602.61).
## 15a Analysis of net assets between funds (current year)
|Analysis of net assets between funds (current year)|||||
|---|---|---|---|---|
|Net assets at 31 March 2022
Analysis of net assets between funds (prior year)
Net assets at 31 March 2021
Net current assets
Tangible fixed assets
Tangible fixed assets
Net current assets|General
unrestricted
£
-
158,916|Designated
£
10,923
120,000|Restricted
£
-
-|Total funds
£
10,923
278,915|
||158,916|130,923|-|289,839|
||General
unrestricted
£
-
136,202|Designated
£
10,538
120,000|Restricted
£
-
1,056|Total funds
£
10,538
257,258|
||136,202|130,538|1,056|267,796|
15b Analysis of net assets between funds (prior year)
32
Stagetext
## Notes to the financial statements
## For the year ended 31 March 2022
16a Movements in funds (current year)
|Total restricted funds
Total designated funds
General funds
Unrestricted funds:
Designated funds:
Access adaptations
Tangible fixed assets
Strategic business development
Talks programme
Advocacy Strategy & Implementation
Restricted funds:
Awards for All (Engaging Older People)
National Lottery Heritage Fund
Innovate UK
ACE Cultural Recovery Fund
Total unrestricted funds
Total funds|At 1 April
2021
£
1,056
-
-
-|Income &
gains
£
-
19,118
31,211
33,277|Expenditure
& losses
£
(1,056)
(19,118)
(31,211)
(33,277)|Transfers
£
-
-
-
-|At 31 March
2022
£
-
-
-|
|---|---|---|---|---|---|
||1,056|83,606|(84,662)|-|-|
||10,538
30,000
20,000
15,000
55,000|-
-
-
-
-|(5,752)
-
-
-
-|6,137
-
-
-
-|10,923
30,000
20,000
15,000
55,000|
||130,538|-|(5,752)|6,137|130,923|
||136,202|895,084|(866,233)|(6,137)|158,916|
||266,740|895,084|(871,985)|-|289,839|
||267,796|978,690|(956,647)|-|289,839|
The narrative to explain the purpose of each fund is given at the foot of the note below.
33
Stagetext
## Notes to the financial statements
## For the year ended 31 March 2022
16b Movements in funds (prior year)
|Total restricted funds
Total designated funds
General funds
Restricted funds:
Awards for All (Engaging Older People)
Coronavirus Community Support Fund
National Lottery Heritage Fund
ACE Cultural Recovery Fund
Advocacy Strategy & Implementation
Total funds
Unrestricted funds:
Designated funds:
Tangible fixed assets
Strategic business development
Talks programme
Access adaptations
Total unrestricted funds|At 31 March
2020
£
-
-
-
-|Income &
gains
£
10,000
33,554
9,836
88,808|Expenditure
& losses
£
(8,944)
(33,554)
(9,836)
(88,808)|Transfers
£
-
-
-
-|At 31 March
2021
£
1,056
-
-
-|
|---|---|---|---|---|---|
||-|142,198|(141,142)|-|1,056|
||14,732
20,000
6,901
10,000
-|-
-
-
-
-|-
-
-
-
-|(4,194)
10,000
13,099
5,000
55,000|10,538
30,000
20,000
15,000
55,000|
||51,633|-|-|78,905|130,538|
||132,170|676,857|(593,920)|(78,905)|136,202|
||183,803|676,857|(593,920)|-|266,740|
||183,803|819,055|(735,062)|-|267,796|
Purposes of restricted funds
Awards for All: Activity to engage older deaf, deafened and hard of hearing people was updated in light of the pandemic and being unable to meet in person. The funding supported targeted marketing to older deaf, deafened and hard of hearing people on accessible online culture, and online outreach engagement with existing and potential user groups to share cultural experiences during the pandemic.
National Lottery Heritage Fund: this fund supports the “Captions Speak Louder” project , a two year archive project which has been extended by one year due to the pandemic. It will preserve Stagetext’s history, culminating in an engaging touring exhibition to mark Stagetext’s 21st anniversary.
Audience of the Future 2: this Innovate UK fund supported Stagetext to undertake a 3 month R&D project looking at how open captioning standards for theatre could be used for theatre performances in virtual or immersive digital spaces.
ACE Culture Recovery Fund (Round 2): this Government fund, distributed by Arts Council England, supported Stagetext to undertake a 3 month project to streamline and automate its booking systems, in order to meet the high demand for services.
ACE Culture Recovery Fund (Round 1): this Government fund, distributed by Arts Council England, supported Stagetext to return staffing to full capacity and cover some core costs during the pandemic, as well as reflating reserves that allowed us to invest in research and consultancy, leading to our refreshed strategy.
Coronavirus Community Support Fund: this Government fund, distributed by the National Lottery Community Fund, supported subsidy of subtitling pre-recorded content for small, community-led and new organisations we hadn’t worked with before. It also supported the training of new digital subtitlers to meet demand.
34
Stagetext
Notes to the financial statements
## For the year ended 31 March 2022
Purposes of designated funds
These are funds which the Board of Trustees has designated to meet future commitments and liabilities as part of their strategic vision and risk assessment for sustainability.
Tangible fixed assets: funds to support the net book value of fixed assets.
Strategic business development: funds of £30,000 have been designated to explore new ventures and activities to improve Stagetext's resilience and ensure its long-term viability.
Talks programme: funds of £20,000 have been designated to support this area as required.
Access adaptations: funds of £15,000 have been designated to cover access adaptations to premises (County Street).
Advocacy Strategy & Implementation: funds of £55,000 have been designated to support the development of an advocacy strategy and its implementation together with additional consultancy or staff requirements as necessary.
## 17 Operating lease commitments payable as a lessee
The charity's total future minimum lease payments under non-cancellable operating leases is as follows for each of the following periods
|each of the following periods|||
|---|---|---|
|Less than one year
One to five years|2022
2021
£
£
24,960
24,960
17,985
42,945
42,945
67,905
Property||
||42,945|67,905|
## 18 Legal status of the charity
The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.
35