# **SPID Theatre Company Limited**
(A Company Limited by Guarantee)
**Company number: 04466287 Charity Number: 1097344**
## **Report and Financial Statements**
## **For the year ended**
**30 June 2022**
## **Contents**
|**Contents**|||
|---|---|---|
|||**Page**|
|**Reference and Administrative Information**|**1**||
|**Trustees’ Annual Report**|**2 - 5**||
|**Independent Examiner’s Report**|**6**||
|**Statement of Financial Activities**|**7**||
|(incorporating an income and expenditure account)|||
|**Balance Sheet**|**8**||
|**Statement of cash flows**|**9**||
|**Notes to the Financial Statements**|**10 - 16**||
**SPID Theatre Company Limited Report and Financial Statements For the year ended 30 June 2022**
## **Reference and Administrative Information**
||Company number: 04466287|
|---|---|
||Charity Number: 1097344|
|**Trustees**|Sophia Ollivierre Co Chair|
||Naomi Israel Co Chair|
||Ben Gilman Treasurer|
||Hilary Spencer Secretary|
||Paul Gardner|
||Salim Chowdhury|
||Helen Atkins|
||Sylvia Akajoyi|
||Meshack Biwott|
||Russell Teimourian|
||Mariana Sastre|
|**Key management**|Helena Thompson - Artistic Director and Senior Responsible Owner|
|**Bankers**|HSBC 176 Camden High Street NW1 8QL|
|**Registered Office**|50 Malvern Road|
||London|
||N8 0LA|
|**Independent Examiner**|Anthony Epton|
||Goldwins|
||75 Maygrove Road|
||West Hampstead|
||London|
||NW6 2EG|
1
**SPID Theatre Company Limited Report and Financial Statements For the year ended 30 June 2022**
The Trustees (who are also directors of the charity for the purposes of the Companies Act) present their annual report together with the financial statements of SPID Theatre Company Limited (the company) for the year ended 30 June 2022. The trustees confirm that the financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102 **.**
## **Governance, structure and management**
The charity is governed by the Memorandum and Articles of Association dated 7 June 2002. It is a company limited by guarantee and does not have a share capital. The liability of the members in the event of the charity being wound up is limited to £10 for each member.
The Artistic Manager (who is a member) has general responsibility, under the terms of her appointment, for managing the Company’s theatrical and artistic activities, subject to the directions of the Trustees. She is responsible for (among other things) making proposals to the Trustees for theatrical and artistic productions for their consideration and approval and for obtaining outside funding in support. She is also the lead member of the Kensal House Community Hub, a grouping which grew out of the SPID Co-operative set up in April 2006 with the approval of the Trustees. Its role is to maintain a SPID presence in Kensal House and to co-ordinate community activities on the Estate in consultation with residents and the local authority.
## **Method of appointment or election of Trustees**
The trustees are appointed on three year terms and retire in rotation. They (and the secretary) are volunteers from within the local community and volunteers who share interest and experience in the fields of theatre and education.
## **Policies adopted for the induction and training of trustees.**
The procedure for induction and training of new trustees is for them to familiarise themselves with the company documents, including past reports and minutes of board meetings and to be instructed in charity law and the law of trusts (by the Secretary) so as to have a clear understanding of their responsibilities and liabilities as trustees.
## **Objectives**
The principal objective of the company is “to advance education for the public benefit by the promotion of the arts, in particular but not exclusively the art of drama and to advance citizenship or community development for the public benefit, in particular, but not exclusively, by making community rooms available for the use of residents of the Kensal House estate and the neighbourhood, without distinction of political, religious or other opinions, including use for (a), lectures and classes and (b) other forms of recreation and leisure time occupations with the object of improving the conditions of life for the residents”. To this end SPID makes art that advocates housing justice.
2
**SPID Theatre Company Limited Report and Financial Statements For the year ended 30 June 2022**
## **Activities and Achievements** .
The appetite for our work grew following Lockdown, with increased engagement in our commitment to art that advocates housing justice. We built on our growing reputation for high quality community work that champions council estates. By maximising involvement from those with lived experience of housing injustice, our Estate Voices, Estate Endz, Far Far Away and Community Hub programs celebrated social housing and made the case for investment.
Estate Endz, our Living History project from 13-25 year olds, culminated in The Unsung, a performance scripted by our head of youth, Nnenna Abosi- Samson, and performed by young participants who had researched the history of Kensal House and Trellick Tower. It was performed between the two estates and featured testimonies from local residents. The number of young people who took part was higher than on any previous Estate Endz project.
Estate Voices, our cross generational Change Collective program, developed our History of Neglect film to show the extent of leaks, floods and mould at Kensal House. We appointed members of Kensal House Residents Association to our refurbishment board and welcomed them as trustees. Standing together with residents forced the council to rehouse those living in sewage water.
Far Far Away, our youth truth program for 8-13 year olds, used clowning techniques to bring young peoples interviews with friends and family to life. The showcase at the North Kensington Library was packed and popular. Participants were proud to also be invited to sit on a climate change panel at the Natural History Museum.
Community Hub delivered free yoga, gong fu and tai chi to along with a Kensal newsletter. This updated residents on our refurbishment now that our contractors have been appointed. We are asking RBKC to cover the cost of delays incurred by their failures to fix the leaks.
During the 2021-22 financial year, SPID also successfully progressed a number of elements necessary for the refurbishment project to commence in the second half of 2022 including:
- Selection of the main contractor and finalisation of the contract
- Written acknowledgement from RKBC of their responsibilities for repairs that have implications for the refurbishment project, and confirmation of the necessary insurances and permissions for the work to commence
- Appointment of a new project manager with sufficient capacity and experience to deliver a large scale project of this nature
- Completion of various technical and planning aspects of the project design and delivery
## **Future Plans**
A significant focus for SPID in the 2022-2023 financial year is the SPID Refurbishment project. This commenced in July 2022 as planned, with the main contractor contract finalised June 2022 and the works commencing July 2022. The total cost of the project is estimated to be £3.3m, with £2.8m for the capital works, £0.4m for activity delivery and £0.1m of other costs. This represents an increase against some earlier cost estimates driven by two main factors:
- Inflation increased significantly in 2022, affected by lockdown distortions and the Ukraine invasion. This had a particularly significant impact on construction costs which are more impacted by energy price inflation and where commodities are affected by global demand. As part of finalisation of the contract with the main contractor, costs were adjusted to allow for inflation and SPID made additional provisions in the contingency budgets for inflationary impacts on other elements of the project (notably professional fees and activities).
3
**SPID Theatre Company Limited Report and Financial Statements For the year ended 30 June 2022**
- Additional costs incurred primarily due to the delayed project start date which had not been fully accounted for by the previous project manager, with some limitations in the project reporting information (largely relating to inaccurate recording of invoice status) affecting SPID’s ability to accurately monitor the refurbishment project’s financial status during the 2021-2022 financial year. In July 2022 the new project manager, working closely with SPID staff and trustees, clarified the total additional unreported costs at £188k and implemented more robust processes for tracking of invoices and reporting of project finances. This shortfall was addressed by the allocation of additional unrestricted funding and further revenue generation by SPID, leaving the refurbishment project adequately funded. As such no adjustment has been made to the 30 June 2022 financial statements.”
As of the date of submission of these financial statements ( April 6 2023) the project budget remains on track in spite of delays to the target completion date, with additional costs incurred expected to be covered by the relevant contingency budgets. Over the course of the year, SPID and their project managers have met regularly with our main funders The National Lottery Heritage Fund, National Lottery Community Fund and Mayor’s Fund to keep them updated on progress, as well as engaging constructively with residents throughout the process to minimise disruption and ensure statutory failures are compensated for.
## **Outcomes and Beneficiaries**
Productions have involved young people and residents with lived experience of housing injustice in developing history and arts skills. Our advocacy program has challenged the stereotypes surrounding social housing to give residents a voice. Our free yoga and gong fu has nurtured wellbeing, whilst our refurbishment and work to get Kensal’s leaks fixed has galvanised hope and collaboration.
Free Drama and sports workshops, free communal meals and the production and discussion of plays have developed local peoples’ skills and nurtured community life. Improving Kensal House community rooms’ maintenance and facilities has championed the space’s potential as a neighbourhood resource. Giving local residents a voice has addressed the frustration they feel that Grenfell happened because they were ignored.
## **Financial Review and Reserves**
It is our policy to keep reserves to facilitate cashflow and cover our running costs for at least 4 months. We currently have reserves for more than a year. As will be seen from the accounts, the company ended another successful year in an improved financial state.
## **Trustees statement of responsibilities**
The trustees (who are also directors of SPID Theatre Company for the purposes of company law) are responsible for preparing the Trustees' Report (incorporating the directors’ report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice).
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 income and expenditure of the charitable company for that period. In preparing these financial statements, the trustees are required to:
4
**SPID Theatre Company Limited Report and Financial Statements For the year ended 30 June 2022**
•select suitable accounting policies and then apply them consistently;
•observe the methods and principles in the Charities SORP;
•make judgments and accounting estimates that are reasonable and prudent;
•state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements, and
•prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for maintaining proper accounting records which 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.
## **Independent Examiner**
Anthony Epton was re-appointed as the Independent examiner of the charitable company during the year and has expressed his willingness to continue in that capacity.
The Trustees’ Annual Report has been approved by the trustees on …6.4.23……….
and signed on their behalf by;
Sophia Ollivierre, Co Chair.
Ben Gilman, SPID Treasurer
5
**SPID Theatre Company Limited Report and Financial Statements For the year ended 30 June 2022**
## **Independent examiner’s report to the trustees of SPID Theatre Company Ltd**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2022.
## **Responsibilities and basis of report**
As the charity’s trustees of the Company (and also its directors for the purposes of company law) 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 your charity’s accounts as 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 examiner’s statement**
Since the Company’s gross income exceeded £250,000, I confirm that I am qualified to undertake the examination because I am a member of the ICAEW, 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:
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 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.
Anthony Epton BA FCA CTA FCIE Goldwins Chartered accountants 75 Maygrove Road West Hampstead London NW6 2EG
6
**SPID Theatre Company Limited Statement of financial activities**
(incorporating an income and expenditure account)
## **For the period ended 30 June 2022**
|**Note**
**Income from:**
Donations
Charitable activities
**3**
Investment income
**Total income**
**Expenditure on:**
Charitable activities
**4**
**Total expenditure**
Net gains/(losses) on investments
**Total net gains/(losses) on investments**
**Net income/(expenditure) for the year**
Transfers between funds
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
**Net (expenditure)/income before net gains /**
**(losses) on investments**
**Net income/(expenditure) before other**
**recognised gains and losses**|**Unrestricted**
**funds**
**£**
54
531,932
909
532,895
78,218
78,218
454,677
(12,945)
(12,945)
441,732
-
441,732
467,830
909,562|**Restricted**
**funds**
**£**
-
182,503
-
182,503
344,765
344,765
(162,262)
-
-
(162,262)
-
(162,262)
167,262
5,000|**2022**
**Total**
**funds**
**£**
**54**
**714,435**
**909**
**715,398**
**422,983**
**422,983**
**292,415**
**(12,945)**
**(12,945)**
**279,470**
**-**
**279,470**
**635,092**
**914,562**|**1 October**
**2020 to**
**30 June**
**2021**
**Total**
**funds**
£
163
711,498
-|
|---|---|---|---|---|
|||||711,661|
|||||303,555|
|||||303,555|
|||||408,106
-|
|||||-
408,106
-|
|||||408,106
226,986|
|||||635,092|
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. The attached notes form part of these financial statements.
7
## **SPID Theatre Company Limited Balance sheet As at 30 June 2022**
|**SPID Theatre Company Limited**
**Balance sheet**
**As at 30 June 2022**||||||
|---|---|---|---|---|---|
|||**2022**|**2022**|**2021**|**2021**|
||**Note**|**£**|**£**|**£**|**£**|
|**Fixed assets:**||||||
|Tangible assets|**8**||**3,936**||5,385|
|Investments|**9**||**137,964**||-|
||||**141,900**||5,385|
|**Current assets:**||||||
|Debtors|**10**|**7,812**||7,812||
|Cash at bank and in hand||**777,226**||622,915||
|||**785,038**||630,727||
|**Liabilities:**||||||
|Creditors: amounts falling due within one year|**11**|**12,376**||1,020||
|**Net current assets**|||**772,662**||629,707|
|**Total net assets**|||**914,562**||635,092|
|**Funds**|**12**|||||
|Restricted funds|||**5,000**||167,262|
|Unrestricted funds:||||||
|General funds||**909,562**||467,830||
|Total unrestricted funds|||**909,562**||173,560|
|**Total funds**|||**914,562**||635,092|
For the financial year ended 30 June 2022, the Company was entitled to exemption from audit under Section 477 of the Companies Act 2006, and no notice has been deposited under Section 476. The directors acknowledge their responsibilities for ensuring that the Company keeps accounting records which comply with Section 386 of the Act and preparing Financial Statements which give a true and fair view of the state of affairs of the Company as at the end of the year and of its profit or loss for the financial period in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006, so far as applicable to the Company.
The Financial Statements were approved by the Board on 6.4.2023
**Sophia Ollivierre Ben Gilman** Co Chair SPID Treasurer
## **Company registration no. 04466287**
The attached notes form part of the financial statements.
8
**SPID Theatre Company Limited Statement of cash flows For the period ended 30 June 2022**
|**Note**
**Cash flows from operating activities:**
Net cash provided by / (used in) operating activities
**14**
**Cash flows from investing activities:**
Interest/ rent/ dividends from investments
Sale/ (purchase) of fixed assets
Sale/ (purchase) of investments
**Cash provided by / (used in) investing activities**
**Cash flows from financing activities:**
Repayments of borrowing
Cash inflows from new borrowing
Receipt of endowment
**Cash provided by / (used in) financing activities**
**Change in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**
**15**
Change in cash and cash equivalents due to exchange rate movements|**2022**
**£**
909
-
(150,909)|**2022**
**£**
304,311
(150,000)
-|**2021**
£
-
(5,732)
-|**2021**
£
402,293
(5,732)
-|
|---|---|---|---|---|
||-
-
-||-
-
-||
||||||
|||154,311
622,915
-||396,561
226,354
-|
|||777,226||622,915|
9
**SPID Theatre Company Limited Notes to the financial statements For the period ended 30 June 2022**
- **1 Accounting policies**
## **a) 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 - effective 1 January 2015) - (Charities SORP FRS 102) and the Companies Act 2006.
The charitable company 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 or note.
## **b) Reconciliation with previously Generally Accepted Accounting Practice (GAAP)**
In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 a restatement of comparative items was required.
## **c) Going concern**
The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
## **d) 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 for the provision of specified service is deferred until the criteria for income recognition are met.
## **f) 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.
## **g) Fund accounting**
Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.
10
**SPID Theatre Company Limited Notes to the financial statements For the period ended 30 June 2022**
## **1 Accounting policies (continued)**
## **h) 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 comprise of trading costs and the costs incurred by the charitable company 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 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.
## **i) Allocation of support costs**
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity and its and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 4.
## **j) Operating leases**
Rental charges are charged on a straight line basis over the term of the lease.
## **k) Tangible fixed assets**
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: Fixtures and fittings 25% on reducing balance Computer equipment 33% on reducing balance
## **l) 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.
## **m) 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.
## **n) 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.
11
**SPID Theatre Company Limited Notes to the financial statements For the period ended 30 June 2022**
## **2 Detailed comparatives for the statement of financial activities**
|**Income from:**
Donations
Charitable activities
**Total income**
**Expenditure on:**
Charitable activities
**Total expenditure**
**Net income / (expenditure)**
**for the year**
Transfers between funds
**Net movement in funds**
**Reconciliation of funds:**
**me from charitable activities**
**RBKC**
**The National Lottery Community Fund**
**Jack Petchey**
**Sport England**
**GLA**
**Trust for London**
**Rausing**
**K and C foundation**
**Community business fund**
**City London**
**Foyle Foundation**
**Ragdoll Foundation**
**National Heritage Trust**
**Historic England**
**BBC children in need**
**Other**
**PTC Community**
**Garfield Weston**
**University of East**
**YCSF Grant**
**Arts Council England**
**City Bridge Trust**
**Department for Work & Pensions**
Total funds brought forward
**Total funds carried forward**|Unrestricted
£
-
-
-
-
-
-
20,000
40,640
20,000
137,500
23,882
25,000
8,000
62,015
6,050
9,500
66,845
112,500
-
-
-
-
-|**Unrestricted**
**£**
163
404,662|**Restricted**
**£**
-
306,836|**2021**
**Total**
**£**
**163**
**711,498**|Restricted
£
6,503
-
-
750
-
86,226
-
-
-
-
-
-
8,000
50,300
18,150
-
-
-
-
-
-
96,568
40,340|**2021**
**Total**
**£**
**44,853**
-
**130,300**
**750**
**-**
**86,226**
**10,000**
**-**
**20,000**
**-**
**-**
**-**
**8,000**
**50,300**
**18,150**
**36,208**
**18,027**
-
**50,000**
**29,836**
**60,000**
**96,568**
**52,281**|
|---|---|---|---|---|---|---|
|||**404,825**|**306,836**|**711,661**|||
|||110,555|193,000|**303,555**|||
|||**110,555**|**193,000**|**303,555**|||
|||**294,270**
-|**113,836**
-|**408,106**
-|||
|||294,270
173,560|113,836
53,426|**408,106**
**226,986**|||
|||467,830|167,262|635,092|||
|||Restricted
£
31,478
4,358
31,275
5,800
23,320
76,272
10,000
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|**2022**
**Total**
**£**
**31,478**
**4,358**
**31,275**
**5,800**
**23,320**
**76,272**
**30,000**
**40,640**
**20,000**
**137,500**
**23,882**
**25,000**
**8,000**
**62,015**
**6,050**
**9,500**
**66,845**
**112,500**
**-**
**-**
**-**
**-**
**-**|Unrestricted
£
38,351
-
130,300
-
-
-
10,000
-
20,000
-
-
-
-
-
-
36,208
18,027
-
50,000
29,836
60,000
-
11,941|||
||**531,932**|**182,503**|**714,435**|**404,662**|**306,836**|**711,498**|
- **3 Income from charitable activities**
12
**SPID Theatre Company Limited Notes to the financial statements For the period ended 30 June 2022**
## **4 Analysis of expenditure**
|**Analysis of expenditure**||||
|---|---|---|---|
|Artistic and educational
Payroll costs
Professional fees
Support costs
Telephone
Advertising
Insurance
Investment fee
Subscriptions
Independent Examiner`s Fees
Admin and evaluation
Rent
Refreshments
Travel
Stationery
Bank charges
Computer running
Sundry
Depreciation
**Total expenditure 2021**|Activity
**2022 Total**
£
**£**
130,353
**130,353**
159,022
**159,022**
106,674
**106,674**
1,726
**1,726**
2,024
**2,024**
1,641
**1,641**
2,542
**2,542**
153
**153**
3,180
**3,180**
3,599
**3,599**
3,311
**3,311**
556
**556**
1,036
**1,036**
912
**912**
-
**-**
3,498
**3,498**
1,307
**1,307**
1,449
**1,449**
**422,983**
**422,983**
Charitable||**2021 Total**
£
**146,172**
**68,227**
**64,455**
**2,883**
**1,129**
**876**
**-**
**-**
**3,000**
**1,555**
**5,411**
**-**
**5,515**
**629**
**128**
**820**
**756**
**1,999**|
||Activity
£
130,353
159,022
106,674
1,726
2,024
1,641
2,542
153
3,180
3,599
3,311
556
1,036
912
-
3,498
1,307
1,449|||
||**422,983**|**422,983**|**303,555**|
Of the total expenditure £78,218 was unrestricted (2021: £110,555) and £344,765 was restricted (2021: £193,000).
## **4a Analysis of expenditure (prior year)**
|Artistic and educational
Payroll costs
Professional fees
Support costs
Telephone
Advertising
Insurance
Cleaning
Independent Examiner`s Fees
Admin and evaluation
Rent
Utilities
Travel
Stationery
Bank charges
Computer running
Sundry
Depreciation
**Total expenditure 2021**|Activity
**2021 Total**
£
**£**
146,172
**146,172**
68,227
**68,227**
64,455
**64,455**
2,883
**2,883**
1,129
**1,129**
876
**876**
-
**-**
3,000
**3,000**
520
**520**
5,411
**5,411**
1,035
**1,035**
5,515
**5,515**
629
**629**
128
**128**
820
**820**
756
**756**
1,999
**1,999**
**303,555**
**303,555**
Charitable|Activity
**2021 Total**
£
**£**
146,172
**146,172**
68,227
**68,227**
64,455
**64,455**
2,883
**2,883**
1,129
**1,129**
876
**876**
-
**-**
3,000
**3,000**
520
**520**
5,411
**5,411**
1,035
**1,035**
5,515
**5,515**
629
**629**
128
**128**
820
**820**
756
**756**
1,999
**1,999**
**303,555**
**303,555**
Charitable|**2020 Total**
£
224,364
46,875
303,555
3,377
2,004
876
2,556
2,160
9,539
10,500
3,800
762
3,592
-
-
269
730|
|---|---|---|---|
||Activity
£
146,172
68,227
64,455
2,883
1,129
876
-
3,000
520
5,411
1,035
5,515
629
128
820
756
1,999|||
||**303,555**|**303,555**|614,959|
Of the total expenditure £110,555 was unrestricted (2020: £209,394) and £193,000 was restricted (2020: £405,565).
13
**SPID Theatre Company Limited Notes to the financial statements For the period ended 30 June 2022**
## **5 Net income / (expenditure) for the year**
|**Net income / (expenditure) for the year**|||
|---|---|---|
|This is stated after charging / (crediting):
**2022**
**£**
Depreciation
**1,449**
Independent Examination
**2,650**
**Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel**
Staff costs were as follows:
**2022**
**£**
Salaries and wages
**144,817**
Social security costs
**11,719**
Employer`s pension
**2,486**
**159,022**
The average number of employees was:
**2022**
**No.**
Charitable Activities
**11**
**11**|**2022**
**£**
**1,449**
**2,650**|2021
£
1,999
2,650|
|||2021
£
61,880
5,256
1,091|
||**159,022**|68,227|
||**2022**
**No.**
**11**|2021
No.
7|
||**11**|7|
- **6 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel**
No employee received emoluments amounting to over £60,000 during the current year (2021: nil).
The charity trustees were not paid or received any other benefits from employment with the charity in the year (2021: nil) neither were they reimbursed expenses during the year (2021: nil). No charity trustee received payment for professional or other services supplied to the charity (2021: nil).
The total employee benefits including pension contributions of the key management personnel were Nil (2021: nil).
## **7 Taxation**
The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
|**8**
**Tangible fixed assets**
**Cost**
At the start of the year
Additions in year
Disposals in year
At the end of the year
**Depreciation**
At the start of the year
Charge for the year
Eliminated on disposal
At the end of the year
**Net book value**
At the end of the year
At the start of the year
**9**
**Investments**
**Investments at fair value:**
Rathbones Segregated Fund
**Movements**
Market value at the start of the year
Additions at cost
Disposals at carrying value
Net gain / (loss) on revaluation
Market value at the end of the year|£
5,642
-
-
Fixtures and
fittings|£
2,472
-
-
Computer
equipment|**Total**
**£**
**8,114**
**-**
-|
|---|---|---|---|
||5,642|2,472|**8,114**|
||1,542
1,025
-|1,187
424
-|**2,729**
**1,449**
**-**|
||2,567|1,611|**4,178**|
||3,075|861|**3,936**|
||4,100|1,285|**5,385**|
|||**2022**
**£**
**137,964**|2021
£
-|
|||**137,964**|-|
|||**-**
**150,909**
-
**(12,945)**|-
-
-
-|
|||**137,964**|-|
14
**SPID Theatre Company Limited Notes to the financial statements For the period ended 30 June 2022**
## **10 Debtors**
|TTR relief
**11**
**Creditors: amounts falling due within one year**
Trade Creditors
Accruals
**12**
**Analysis of net assets between funds**
Fixed assets
Net current assets
**Net assets at the end of the year**
**12a Analysis of net assets between funds (prior year)**
Tangible fixed assets
Net current assets
**Net assets at the end of the year**|General
unrestricted
£
141,900
767,662|Designated
£
-
-|**2022**
**£**
**7,812**|**2021**
£
7,812|
|---|---|---|---|---|
||||**7,812**|7,812|
||||**2022**
**£**
**8,176**
**4,200**|**2021**
£
**-**
1,020|
||||**12,376**|1,020|
||||Restricted
£
-
5,000|**Total funds**
**£**
**141,900**
**772,662**|
||909,562|-|5,000|**914,562**|
||General
unrestricted
£
5,385
462,445|Designated
£
-
-|Restricted
£
-
167,262|**Total funds**
**£**
**5,385**
**629,707**|
||467,830|-|167,262|**635,092**|
|**13**
**Movements in funds**
**Restricted funds:**
**RBKC**
**Arts Council**
**London Foundation**
**Jack Petchey**
**Trust for London**
**Sport England**
**GLA**
**General funds**
**Total unrestricted funds**
**Total funds**
**Department for Work & Pensions**
**The National Lottery Community Fund**|£
160
72,259
50,000
-
-
-
-
-
44,843
At the start of
the year|£
31,478
-
-
4,358
5,800
10,000
31,275
23,320
76,272
Incoming
resources &
gains|£
(26,638)
(72,259)
(50,000)
(4,358)
(5,800)
(10,000)
(31,275)
(23,320)
(121,115)
Outgoing
resources &
losses|Transfers
£
-
-
-
-
-
-
-
-
-|**£**
**5,000**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**At the end of**
**the year**|
|---|---|---|---|---|---|
||167,262 7|
182,503|(344,765)|**-**|**5,000**|
||467,830|532,895|(91,163)|-|**909,562**|
||467,830|532,895|(91,163)|-|**909,562**|
|||||||
||635,092|715,398|(435,928)|**-**|**914,562**|
15
**SPID Theatre Company Limited Notes to the financial statements**
## **For the period ended 30 June 2022**
## **Purposes of restricted funds**
Restricted funds funded the delivery of the following programs: Estate Endz Supper Club Community Hub SPID Refurb
Far Far Away
|**13a Movements in funds (prior year)**
**Restricted funds:**
**RBKC**
**Arts Council**
**London Foundation**
**National Heritage**
**Jack Petchey**
**City Bridge**
**Ragdoll Foundation**
**Historic England**
**GLA**
**General funds**
**Total unrestricted funds**
**Total funds**|£
3,426
-
50,000
-
-
-
-
-
-
At the start of
the year|£
6,503
96,568
-
50,300
750
40,340
8,000
18,150
86,226
Incoming
resources &
gains|£
(9,769)
(24,309)
-
(50,300)
(750)
(40,340)
(8,000)
(18,150)
(41,382)
Outgoing
resources &
losses|Transfers
£
-
-
-
-
-
-
-
-
-|**£**
**160**
**72,259**
**50,000**
**-**
**-**
**-**
**-**
**-**
**44,844**
**At the end of**
**the year**|
|---|---|---|---|---|---|
||**53,426**|**306,836**|**(193,000)**|**-**|**167,262**|
||173,560|404,825|(110,555)|-|**467,830**|
||173,560|404,825|(110,555)|-|**467,830**|
||226,986|711,661|(303,555)|**-**|**635,092**|
## **Purposes of restricted funds**
Restricted funds funded the delivery of the following programs:
Estate Endz Supper Club Community Hub SPID Refurb Far Far Away
## **14 Reconciliation of net income / (expenditure) to net cash flow from operating activities**
|**Reconciliation of net income / (expenditure) to net cash flow from operating activities**|||
|---|---|---|
|**Net income / (expenditure) for the reporting period**
**(as per the statement of financial activities)**
Depreciation
Interest, rent and dividends from investments
(Gains)/ losses on investments
(Increase)/ decrease in debtors
Increase/ (decrease) in creditors
**Net cash provided by / (used in) operating activities**|**2022**
**£**
**279,470**
**1,449**
**(909)**
**12,945**
-
**11,356**|2021
£
408,106
1,999
-
-
(7,812)
-|
||**304,311**|402,293|
## **15 Analysis of cash and cash equivalents**
|**Analysis of cash and cash equivalents**|||||
|---|---|---|---|---|
|Cash at bank and in hand
**Total cash and cash equivalents**|£
622,915
At 1 October
2020|Cash flows
£
154,311|£
-
Other
changes|**£**
**777,226**
**At 30 June**
**2021**|
||622,915|154,311|**-**|**777,226**|
## **16 Legal status of the charity**
The charity is a company limited by guarantee and has no share capital. Each member is liable to contribute a sum not exceeding £1 in the event of the charity being wound up.
## **17 Related party transactions**
There are no related party transactions to disclose for 2022 (2021: none).
16