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← Icon Theatre

2023-03-31-accounts

ICON THEATRE

Trustees’ Report & Financial Statements For the Period Ended 31 March 2023

Charity Number: 1097311 Company Number: 4579447 (England & Wales)

Icon Theatre Trustees’ Report & Financial Statements For the Period Ended 31 March 2023

CONTENTS

Report of the Trustees Pg. 2 to 15
Independent Examiner's Report to the Trustees Pg. 16
Statement of Financial Activities Pg. 17
Statement of Financial Position Pg. 18
Notes to the Financial Statements Pg. 19 to 26

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Icon Theatre Trustees’ Report & Financial Statements For the Period Ended 31 March 2023

REPORT OF THE TRUSTEES

Introductions

The Trustees, who are also directors for the purposes of company law, have pleasure in presenting their report and the financial statements for the charitable company for the period ended 31 March 2023. The Trustees have adopted the provisions of 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 the Republic of Ireland (FRS 102) (effective 1 January 2019).

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Icon Theatre Trustees’ Report & Financial Statements For the Period Ended 31 March 2023

REFERENCE AND ADMINISTRATIVE INFORMATION

Name of Charity: Icon Theatre

Charity Registration Number : 1097311

Company Registration Number : 4579447

The trustees and officers serving during the year and since the year end, were:

Ms N Alison

Ms A Fullman (Resigned June 15 2022) Ms S Hamlet Ms N Mitchell Ms A Sargent (Chair of Trustees) Ms T Siddiqa Amin

Secretary

Ms N Hirst

Artistic Director/CEO

Ms N Hirst

Executive Director

Mr D King

Independent Examiners

Andrew M Wells FMAAT, Counterculture Partnership LLP, Unit NH.204, E1 Business Studios, 7 Whitechapel Road, London, E1 1DU

Principal Address

Icon Theatre, Admiral’s Offices, Main Gate Road, The Historic Dockyard Chatham, Medway ME4 4TZ

Approved by the Board of Trustees on 13 December 2023 and signed on its behalf by:

Ms A Sargent, Chair of Trustees

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Icon Theatre Trustees’ Report & Financial Statements For the Period Ended 31 March 2023

OBJECTIVES AND ACTIVITIES

Principle Activities

  1. To advance education for the public benefit by the promotion of the arts, in particular but not exclusively the art of drama.

  2. To promote social inclusion for the public benefit by relieving the needs of those people who are socially excluded, assisting integration into society through the arts, in particular but not exclusively the art of drama.

Icon’s mission is:

  1. To transform disadvantaged lives through theatre and participatory arts.

  2. To strengthen communities through engagement in creative programmes.

Activities undertaken to achieve mission:

Icon Theatre undertakes three main areas of activity:

  1. Creative programmes: using the process of drama and theatre-making we support people, particularly young people, to develop transformational lifeskills.

  2. Theatre productions: we create high-quality theatre productions that prioritise telling stories from marginalised and under-represented communities.

  3. Artist and sector development: we develop community and participatory theatre artists of the future by delivering professional development opportunities.

Strategies for achieving objectives

Vision

Icon Theatre’s vision is of a society where socially excluded communities and young people are empowered by world-class theatre. We believe in democratising the arts, ensuring that everyone has access to the transformative power of creativity.

Creative process

Icon Theatre uses theatre as a catalyst to bring people together, empowering individuals and communities to tell their stories and in their own way. We listen deeply to those we work with, authentically reflecting diverse and inclusive perspectives in the theatre we stage and creative programmes we make.

Where We Work

Icon Theatre prioritises working in Kent, currently targeting areas in Medway and the district of Swale that rank in the top 10% for deprivation in England (Multiple Indices of Deprivation 2019). Since 2020, Icon has focussed on developing a new long-term

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Icon Theatre Trustees’ Report & Financial Statements For the Period Ended 31 March 2023

creative programme in Sheerness on the Isle of Sheppey, Kent’s most deprived area where 54% of children are living in poverty (Children in Poverty Report Kent, 2022).

Participants

Icon Theatre is committed to using theatre to reach young people and adults affected by under-representation, systemic injustice, marginalisation, poverty, mental health, disability and involvement with the criminal justice system.

Partnerships

Icon Theatre has strong links to a range of local support agencies including All Saints Community Project, Medway African and Caribbean Association, Medway Voluntary Action, Medway Diversity Forum, Child Friendly Medway, local foster agencies, social services, individual youth workers, support workers and SEN Officers at local schools who regularly refer participants to our services.

Icon is proud to work in partnership and co-production with local and national arts organisations that enrich and strengthen our work, these include Novak, Theatre Royal Stratford East, ZooNation: The Kate Prince Company, The Gulbenkian, Dante or Die, IdeasTest, WildWorks and Royal Opera House. We support the local arts and cultural sector as active members of Creative Medway, the body which leads on and delivering Medway's Cultural Strategy, and as active members of both Medway and Swale’s Cultural Education Partnerships.

Charity’s aims for 2022-23

The charities main goals for the year were:

  1. To develop, deliver and fundraise for the continuation of Icon’s Young People’s Programme.

  2. To develop and present a new community theatre production with underrepresented communities.

ACHIEVEMENTS AND PERFORMANCE

1. Achievements & Performance

In 2022-23, 1,180 socially excluded young people and adults participated in 163 Icon Theatre workshops. 80 young people were supported to develop creative careers, or to enter education, employment or training. 182 local people took part in Icon Theatre production The Ballad of St John’s Car Park alongside 54 professional freelance creatives including Fringe First Award-winning writer, Tabby Lamb; projection designer Gino Ricardo Green, and actor David King-Yombo. In 2022-23, 1,405 people were supported to watch an Icon Theatre production through free or subsidised tickets.

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Icon Theatre Trustees’ Report & Financial Statements For the Period Ended 31 March 2023

2. Relationships

This year, Icon Theatre maintained relationships with major funders for revenue activity including Arts Council England and Medway Council. During the year we secured new significant funders including Colyer-Fergusson Charitable Trust and Henry Smith Charity. Icon’s application to join Arts Council England National Portfolio 2023-26 was successful, enabling a three-year grant which will support some of Icon Theatre’s core and project delivery costs.

3. Young People’s Programme

Icon Theatre’s young people’s programme continued to be designed and developed by Icon’s Creative Council, a group of young people who meet monthly with the staff team.

Supporting young people to enter education, training or employment

Targeted young people’s programmes

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Icon Theatre Trustees’ Report & Financial Statements For the Period Ended 31 March 2023

Other projects and programmes

Schools programme

Theatre31

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Icon Theatre Trustees’ Report & Financial Statements For the Period Ended 31 March 2023

Music Drama and Education Awards in 2022 and the models developed through the programme now shape local and national art policies, recently through the publication Co-Creation with Young People: Guiding Principles .

“The programme is exemplary” Music & Drama Education Awards

"Over the years Icon has supported me to build my confidence and cope with what life throws at me much better. I've just finished at college and am applying for drama school" Participant.

4. Community Theatre Productions

The Ballad of St John’s Car Park

The Ballad of St John’s Car Park was a large-scale immersive community theatre production performed in the basement of St George’s Hotel in Chatham. Commissioned by Arts Council England, Medway Council and Creative Estuary, the production told a unifying story about moments in Medway’s history that have been transformed by the activism of underrepresented groups. Stories included the protested closure of Chatham Dockyard in 1984, the Black Lives Matter movement’s 2020 campaign to rename a local car park that commemorated a prominent slave trader, and the LGBTQ+ community’s battle to establish Medway Pride. The Ballad of St John’s Car Park was created and directed by Icon’s Artistic Director Nancy Hirst through a process of co-creation, and brought a high-profile creative team, including Fringe First Award-winning writer, Tabby Lamb; projection designer Gino Ricardo Green, and actor David King-Yombo into collaboration with local communities and young people.

The production in numbers

Feedback on The Ballad of St John’s Car Park

“A stunning and incredibly moving show.” Audience

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Icon Theatre Trustees’ Report & Financial Statements For the Period Ended 31 March 2023

“The unique thing about performing with Icon is the way the company are able to integrate professional and community casts into a real team that perform together and encourage each other.” Community Cast Member.

5. Diversity, Equity and Inclusion

Diversity, Equity and Inclusion (DE&I) is at the heart of Icon Theatre’s mission, and we continued to actively embed it across all areas of the organisation. Community theatre production The Ballad of St John’s Car Park told stories of local Black Lives Matter, Trans Rights and working-class activism in Chatham, supporting us to diversify the artists and participants we work with and the audiences who attended. We worked on increasing access for D/deaf young people by running a theatre and film programme for hearing and D/deaf young people. Additionally, the evaluation report for Theatre31 praised the success Icon had in developing youth-led models for under-represented young people to access and participate in the arts.

In 2022-23:

“[the leading role] was amazing, as a fellow Trans person I really connected with them. Seeing that they studied at Rose Bruford has pushed me to audition there. I would love to get involved in Icon shows in the future.” Audience

6. Temporary Closure of The Brook Theatre, Chatham

Icon Theatre’s home, The Brook Theatre Chatham temporarily closed for a threeyear refurbishment, relocating the company to new premises at The Historic Dockyard Chatham. This closure also meant Icon Theatre did not create its annual festive production for early years audiences at the venue for the first time in over a decade.

FUTURE PLANS

1. Young People’s Programme 2023-24

Icon Theatre will build on what was learned through the evaluation of the three-year Theatre31 young people’s programme, continuing to focus on widening arts access

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Icon Theatre Trustees’ Report & Financial Statements For the Period Ended 31 March 2023

and participation in areas of high disadvantage and low arts engagement. The programme will remain under the design and development of our Creative Council, a group of young people who meet with Icon’s staff team monthly. We will focus on developing our work with young people in Sheerness, Kent’s most deprived area where 54% of children are living in poverty (Children in Poverty Report – Kent). Remarkably, Icon stands as the sole provider offering free theatre opportunities in this area, making our presence there crucial.

2. Community Theatre Productions 2023-24

Icon Theatre will stage a large-scale community theatre production in partnership with critically acclaimed dance company, ZooNation: The Kate Prince Company, Amina Khayyam Dance Company, The Historic Dockyard Chatham, and 200 local residents and young people. Taking place in the 40th anniversary year of Chatham Dockyard’s closure, this production is inspired by oral histories from people working at the former Dockyard during its final days and will tell untold stories about the 400year-old site and its colonial legacy.

3. Equity, Diversity and Inclusion 2023-24

In early 2023, Icon Theatre reflected on our equity, diversity and inclusion journey more deeply. It was recognised that whilst the company had taken significant strides in its artistic programme, if the company was to deliver its charitable mission effectively into the future, Icon Theatre needed to look more deeply at the systemic inequalities embedded in our productions, programmes and wider organisation.

The outcome of that reflection was a refreshed and renewed 360-degree Equity, Diversity and Inclusion Strategy for 2023-26, covering all areas of our work, with five aims and one key target: to increase the diversity participants, audiences, employees, creative freelancers and board, with a specific focus on Global Majority, D/deaf and disabled people and those from low socio-economic backgrounds.

4. Sustainability 2023-24

Icon Theatre is committed to reducing its impact on the environment and to using the arts to inspire others to do the same. The company has a strong track-record in this area, reusing or recycling all costumes and props from productions. Icon regularly incorporates sector best practice from The Green Book and in 2023 will develop a new data-led strategic approach to sustainability in collaboration with sector support organisation, Julie’s Bicycle.

5. Fundraising activities and objectives 2023-24

Icon Theatre’s confirmed multi-year grants from Arts Council England, Henry Smith Charity (concludes 2024), Colyer-Fergusson Charitable Trust (concludes 2024) and the Harold Hyam Wingate Foundation (concludes 2025) represent

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Icon Theatre Trustees’ Report & Financial Statements For the Period Ended 31 March 2023

approximately 45% of annual turnover. We will continue to fundraise from trusts and foundations and lottery funders, and by working in partnership with local authorities on joint initiatives. Icon’s policy is to fundraise the total amount for each project or programme at least three months before initiation of activities. We set fundraising objectives at the start of each year and regularly review them, which allows us to deliver the programmes and activities we believe are most needed.

FINANCIAL REVIEW

Income and Expenditure

This year, 81% of Icon's £436,683 income was achieved through earned income from commissions, tenders and contracts. The remainder came from donations, gifts and grants. The expenditure was £426,635, achieving a surplus of £10,048. This was a decrease on the previous financial year’s turnover (£572,970), reflecting the significant increase in our rescheduled activity in 2021-22 after the lifting of Covid-19 restrictions and the successful completion of Theatre31 .

Reserves

As a result of ongoing sector challenges arising from the Covid-19 crisis, the wider economy and those specific to the performing arts sector, the trustees continue to target a level of free reserves equivalent to three months' turnover based on the average of the previous three years. Based on the average of the turnover from financial years ending 2020, 2021 and 2022 this is now £94,456. Currently Icon’s free reserves are £96,635.

Icon’s reserves policy is to maintain a level of reserves that trustees believe to be consistent both with ongoing financial stability, alongside maximum utilisation of resources for the delivery of activities. The level of reserves is reviewed annually by trustees. Trustees have the power to designate reserves to funds for specific activities or to meet certain objectives.

Financial impact of significant events and activities

Icon’s home, The Brook Theatre Chatham temporarily closed for a three-year refurbishment, relocating the company to new premises at The Historic Dockyard Chatham. As a result, for the first time in over a decade, Icon did not create its annual festive production for early years audiences, resulting in a small reduction of income (approximately, £9,000). The company is working to find a new venue and partners for future years. The decision by HMRC to extend the uplifted Theatre Tax Relief rate at 45% meant the company benefited from additional income.

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Icon Theatre Trustees’ Report & Financial Statements For the Period Ended 31 March 2023

Principal risk and uncertainties facing the charity

The Trustees assess the principal risks and uncertainties facing Icon Theatre and the mitigating actions required on a quarterly basis. The current principal risks are:

1. Economic: The ongoing impact of high inflation, the cost-of-living crisis and increased energy costs on delivery, as well as the increasingly challenging funding climate including budgetary restraints of local authorities.

Risk management and mitigation includes:

Trustees are currently satisfied that this approach will enable Icon Theatre to continue to achieve our fundraising goals over the foreseeable future.

2. Loss of key members of senior management staff

Like many charities of our size there is a reliance on a small executive team. The impact of losing the Artistic Director/CEO and Executive Director would be considerable. Development of the wider team and Board has helped offset this risk.

Risk management and mitigation includes:

Trustees are currently satisfied that this approach mitigates this risk.

GOING CONCERN

PUBLIC BENEFIT STATEMENT

The Trustees have reviewed this Charity Commission guidelines on public benefit and are satisfied that the charity provides public benefit in line with this guidance.

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Icon Theatre Trustees’ Report & Financial Statements For the Period Ended 31 March 2023

Summary

Icon Theatre is ending the year 2022-2023 in a strong financial position, and we are looking forward to expanding and developing our participation and theatre production activities next year. 2023-24 will see Icon work with a more diverse range of partners, deepening our work with communities, young people and audiences.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of trustees

Icon Theatre recruits trustees through an open and transparent recruitment process. We identify skills needed on the Board through an annual skills audit. A Person Specification and Job Description are then drawn up, and adverts are placed in a variety of national and local outlets, to secure the best range of candidates, which reflect the diversity of contemporary Medway. Potential trustees apply in writing, and shortlists for interview are made through assessment against the Person Specification.

New trustees are proposed at quarterly meetings, and their proposal is discussed by existing trustees. Potential trustees observe at board meetings, at the end of which, a vote is taken as to whether to appoint them as a new trustee. New trustees receive copies of Icon’s policies and business plan and are briefed on the structure and operations of the company. Away Days for the board and senior management provide additional ongoing opportunities for reflection, training and continuing professional development.

Staffing

In 2022-23 Nancy Hirst was founder and Artistic Director/CEO and Daniel King Executive Director. On conclusion of our three-year young people’s programme Theatre31, the company was restructured and now includes, in addition to the Directors, a Creative Engagement Manager (part-time), Producer (part-time) and Production and Administration Co-Ordinator (part-time). The company is supported by freelance facilitators, producers, artists and creatives.

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Icon Theatre Trustees’ Report & Financial Statements For the Period Ended 31 March 2023

Volunteers & work placements

Icon Theatre has an ongoing volunteer and work placements programme and provides regular opportunities for young people to observe and assist on various aspects of our projects and productions.

Management structure

The charity is led by Icon Theatre’s Board of Trustees, who meet four to six times a year to oversee the management and strategic direction of the charity as well as scrutinising and finalising accounts. The day-to-day running of the organisation is delegated to the Artistic Director/CEO, who reports back to the Board at the regular meetings and works with the permanent and freelance staff to deliver the objectives and activities of the organisation.

Key management remuneration

Staff remuneration is set at industry approved levels and follows sector specific rates as advised by ITC/Equity (management, administrators, performers and facilitators), BECTU (technicians) and the Artists Information Company (visual artists).

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Icon Theatre

Independent Examiners Report to the Trustees For the period ended 31 March 2023

I report to the trustees on my examination of the accounts of the charitable company for the period ended 31 March 2023.

Responsibilities and basis of report

As the charity Trustees, who are also directors 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').

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 your charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiners statement

Since the Charitable 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 by virtue of my membership of Association of Accounting Technicians, which is one of the listed bodies.

I have completed my examination. I confirm that no 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

  2. the accounts do not comply with the 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 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 M Wells FMAAT Counterculture Partnership LLP Unit 115 Ducie House Ducie Street Manchester M1 2JW

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Icon Theatre

Statement of Financial Activities (including Income and Expenditure Account) For the period ended 31 March 2023

Notes Unrestricted Restricted 2023 2022
funds funds
£ £ £ £
Income and endowments from:
Donations and legacies 2 3,000 81,380 84,380 55,752
Charitable activities 3 293,776 - 293,776 509,471
Investments - - - 120
Other income 58,527 - 58,527 62,326
Total 355,303 81,380 436,683 627,669
Expenditure on:
Raising funds (2,810) - (2,810) (5,253)
Charitable activities 4/5 (342,445) (81,380) (423,825) (567,717)
Total (345,255) (81,380) (426,635) (572,970)
Net income/expenditure 10,048 - 10,048 54,699
Reconciliation of funds
Total funds brought forward 86,587 - 86,587 31,888
Total funds carried forward 96,635 - 96,635 86,587

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Registered Number : 04579447

Icon Theatre Statement of Financial Position As at 31 March 2023

Notes
Fixed assets
Tangible assets
11
Current assets
12
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
13
Net current assets
Total assets less current liabilities
Net assets
The funds of the charity
Unrestricted income funds
14
Total funds		 £
2023
3,967
3,967
125,330
80,116
205,446
(112,778)
92,668
96,635
96,635
96,635
96,635		 £
2022
2,077
2,077
79,351
189,263
268,614
(184,104)
84,510
86,587
86,587
86,587
86,587

For the period ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The financial statements were approved and authorised for issue by the Board and signed on its behalf by:

0

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Icon Theatre Notes to the Financial Statements For the period ended 31 March 2023

1. Accounting Policies

Basis of accounting

The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and in accordance with 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) (effective 1 January 2019)', Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Companies Act 2006.

Icon Theatre meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

The financial year end of the Charity was changed from 30 April to 31st March. Accordingly, the current financial statements are prepared for 11 months from 1st May 2022 to 31st March 2023.

Going concern

The financial statements are prepared, on a going concern basis, under the historical cost convention.

Funds

The charity maintains a general unrestricted fund which represents funds which are expendable at the discretion of the trustees in furtherance of the objects of the charity. Such funds may be held in order to finance both working capital and capital investment.

Designated funds comprise of unrestricted funds that have been set aside by the Trustees for particular purposes.

Restricted funds have been provided to the charity for particular purposes, and it is the policy of the board of trustees to carefully monitor the application of those funds in accordance with the restrictions placed upon them.

There is no formal policy of transfer between funds or on the allocation of funds to designated funds, other than that described above.

Incoming resources

All incoming resources are included in the statement of financial activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy.

Resources expended

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Taxation

As a registered charity, the company is exempt from income and corporation tax to the extent that its income and gains are applicable to charitable purposes only.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Computer equipment 50% Straight line

Debtors

The Trustees consider that any debt not paid within six months should be written off. Any amount recovered after this period is written back in the relevant accounting period. The Trustees also review all material debtors, whether they are overdue, to consider whether each debt is recoverable.

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Icon Theatre

Notes to the Financial Statements Continued For the period ended 31 March 2023

Irrecoverable VAT

Irrecoverable VAT is included in the Statement of Financial Activities, and is reported as part of the expenditure to which it relates.

2. Income from donations and legacies

Grants received
Analysis of grants received
Arts Council England
Colyer-Fergusson Charitable Trust
Creative Estuary
Harold Hyam-Wingate Foundation
Kent Community Foundation
Medway Council
Other Grants
The Ashley Family Foundation
The Cole Charitable Trust
The Edgar E Lawley Charitable Trust
ncome from charitable activities
Unrestricted funds
Projects and Productions
Theatre Productions and
Projects
Commissions
Young People's and
Community Programme		 Restricted
funds
Unrestricted
funds
£
£
81,380
3,000
81,380
3,000		 2023
£
84,380
84,380
2023
£
29,500
11,000
-
1,000
2,000
20,340
12,540
5,000
1,500
1,500
84,380
2023
£
86,602
60,000
147,174
293,776
293,776		 2022
£
55,752
55,752
2022
£
-
-
6,470
-
8,000
23,860
2,421
-
-
-
40,751
2022
£
102,355
-
407,116
509,471
509,471

3. Income from charitable activities

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Icon Theatre

Notes to the Financial Statements Continued For the period ended 31 March 2023

4. Costs of charitable activities by fund type

Projects and Productions
Support costs
5. Costs of charitable activities by activity type
Support costs
Projects and Productions
6. Analysis of support costs
Projects and Productions
Depreciation
Finance
IT
Sundry and Travel
Marketing and
Communications
Company development
Access Costs
Administration Costs
Insurance
Office Overheads
Governance costs		 Unrestricted
funds
£
299,201
43,244
342,445
Activities
undertaken
directly
£
380,581		 Restricted
funds
£
81,380
-
81,380
Support
costs
£
43,244		 2023
£
380,581
43,244
423,825
2023
£
423,825
2023
£
3,525
5,711
3,493
5,339
2,185
3,000
8,000
1,245
1,492
7,217
2,037
43,244		 2022
£
525,434
42,283
567,717
2022
£
567,717
2022
£
1,877
6,428
5,221
-
15,426
-
-
-
941
10,630
1,760
42,283

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Icon Theatre

Notes to the Financial Statements Continued

For the period ended 31 March 2023

7. Net income/(expenditure) for the period

This is stated after charging/(crediting):

This is stated after charging/(crediting):
2023 2022
£ £
Depreciation of owned fixed assets 3,525 1,877
Accountancy fees 1,800 1,621
Staff pension contributions 2,365 2,862

8. Staff costs and emoluments

Total staff costs for the period ended 31 March 2023 were:

Salaries and wages
Social security costs
Pension costs		 2023
£
141,107
10,332
2,365
153,804		 2022
£
164,994
10,754
2,862
178,610

No employee earned more than £60,000 during the year (2022: nil).

The total employee benefits including pension contributions of the key management personnel were £78,898 (2022: £65,049). Key management personnel include the Artistic Director / CEO and Executive Director.

Staff

2023 2022
4 6
4 6

9. Trustee remuneration and related party transactions

The charity trustees were not paid or received any other benefits from employment with the charity in the year (2022: £nil).

No charity trustee received payment for professional or other services supplied to the charity (2022: £nil).

Trustees' expenses represents the payment or reimbursement of travel and subsistence costs totalling £237 (2022:£138).

There are no donations from related parties which are outside the normal course of the Charity's business and no restricted donations from related parties.

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Icon Theatre

Notes to the Financial Statements Continued For the period ended 31 March 2023

10. Comparative for the Statement of Financial Activities

Income and endowments from:
Donations and legacies
Charitable activities
Investments
Other income
Total
Expenditure on:
Raising funds
Charitable activities
Total
Net income/expenditure
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
£
38,282
509,471
120
62,326
610,199
(5,253)
(550,247)
(555,500)
54,699
31,888
86,587		 Restricted
funds
£
17,470
-
-
-
17,470
-
(17,470)
(17,470)
-
-
-		 2022
£
55,752
509,471
120
62,326
627,669
(5,253)
(567,717)
(572,970)
54,699
31,888
86,587

11. Tangible fixed assets

Cost or valuation
At 01 May 2022
Additions
At 31 March 2023
Depreciation
At 01 May 2022
Charge for period
At 31 March 2023
Net book values
At 31 March 2023
At 30 April 2022		 Computer
equipment
£
8,394
5,141
13,535
6,317
3,251
9,568
3,967
2,077

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Icon Theatre

Notes to the Financial Statements Continued For the period ended 31 March 2023

12. Debtors

Amounts due within one year:
Trade debtors
Other debtors		 2023
2022
£
£
4,477
17,025
120,853
62,326
125,330
79,351

2023 debtors include Theatre Tax Relief 2021-22 (£62,326) and Theatre Tax Relief 2022-23 (£58,257).

13. Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 1,766 28,150
Other creditors 2,727 26,488
Accruals and deferred income 108,285 129,466
112,778 184,104

14. Movement in funds

Unrestricted Funds

Unrestricted Funds
Balance at Incoming Outgoing Balance at
01/05/2022 resources resources 31/03/2023
£ £ £ £
General
General 86,587 355,303 (345,255) 96,635
86,587 355,303 (345,255) 96,635
Unrestricted Funds - Previous year
Balance at Incoming Outgoing Balance at
01/05/2021 resources resources 30/04/2022
£ £ £ £
General
General 31,888 610,199 (555,500) 86,587
31,888 610,199 (555,500) 86,587

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Icon Theatre Notes to the Financial Statements Continued For the period ended 31 March 2023

Purpose of unrestricted Funds

General

Unrestricted funds are expendable at the discretion of the trustees in furtherance of the objects of the charity.

Restricted Funds

Incoming Outgoing Balance at
resources resources 31/03/2023
£ £ £
General 81,380 (81,380) -
81,380 (81,380) -
Restricted Funds - Previous year
Incoming Outgoing Balance at
resources resources 30/04/2022
£ £ £
General 4,470 (4,470) -
Young People's 13,000 (13,000) -
Projects
17,470 (17,470) -
Purpose of restricted funds
General
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.
Young People's Projects
For young people's drama and theatre programmes.
Analysis of net assets between funds
Tangible Net current Net Assets
fixed assets assets /
(liabilities)
£ £ £
Unrestricted funds
General
General 3,967 92,668 96,635
3,967 92,668 96,635

15. Analysis of net assets between funds

25

Icon Theatre

Notes to the Financial Statements Continued For the period ended 31 March 2023

Previous year
Unrestricted funds
General
General		 Tangible
fixed assets
Net current
assets /
(liabilities)
Net Assets
£
£
£
2,077
84,510
86,587
2,077
84,510
86,587

26