## **The Khayaal Theatre Company** **Charity No. 1100005** **Company No. 03597083** **Trustees' Report and Unaudited Accounts** **31 July 2020** **The Khayaal Theatre Company Contents** ||Pages| |---|---| |Trustees' Annual Report|2 to 6| |Independent Examiner's Report|7| |Statement of Financial Activities|8| |Summary Income and Expenditure Account|9| |Balance Sheet|10| |Statement of Cash flows|11| |Notes to the Accounts|12 to 17| |Detailed Statement of Financial Activities|18 to 19| Page 1 **The Khayaal Theatre Company Trustees Annual Report** The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 July 2020. ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Company No. 03597083** ## **Charity No. 1100005** ## **Registered Office** 42 Alexandra Avenue PO Box 2523 Luton LU3 9BN ## **Directors and Trustees** The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year: R. Mughal S.H.H. Naqvi F. Qureshi G. Virani ## **Company Secretary** L.A. Ali ## **Accountants** Sabat Accountants Ltd t/a Seymour King Suite G1 Hartsbourne House Delta Gain Watford WD19 5EF ## **OBJECTIVES AND ACTIVITIES** The objects for which the company is established are to promote, maintain, improve and advance public education through the research, development, production and performance of drama and theatre inspired by and adapted from Muslim literature and the wisdom literature of other faith traditions. The company's activities typically include touring stage performances (Theatre-without-Walls), running drama workshops, devising and running theatre-in-education programmes, publishing children books, training, advocacy and consultancy. ## **ACHIEVEMENTS AND PERFORMANCE** Over the period August-December 2019, we continued to fulfil high levels of demand similar to the previous three years from both new (58%) and existing (42%) host partners throughout England. We averaged 5 events / 6 performances per month covering 10 local authorities reaching 3500 cross-cultural audiences of all ages. Page 2 **The Khayaal Theatre Company Trustees Annual Report** 2020 began with much promise as we’d booked half of the 50 projected events for the year with multi-sector host partners by the end of January. In fact, we were excited by the prospect of exceeding our output targets again based on the volume of enquiries we were logging from both existing and new clients through the last quarter of 2019 and into the New Year. We began the year (Jan-Mar) working in the education (3 primary schools and a university) and community sectors delivering 5 live physical events in Luton, Essex, Oxford and Brent reaching 1000 people. In early February, we began to see a gradual decline in the flow of enquiries and bookings as the uncertainties, impact and implications of Covid-19 began to impose themselves on society. By early March, host partners began to either postpone or cancel provisional and confirmed bookings across the year and by mid-March bookings came to a halt. As we approached UK lockdown, it became obvious to us that Theatre-without-Walls would need to migrate online using the digital media (video and audio) if we were to survive and continue serving our audiences. Almost immediately, this imperative was confirmed for us as our national and international network of new and existing partners began to request digital content for hosted online events. As we began to creatively pivot in order to adapt our work for digital audiences under lockdown conditions, it was quite fortuitous that we were just completing a 2-minute and an extended 6-minute promotional film showcasing the Theatre-without-Walls project. These films have benefitted at least 15,000 viewers to date and served as a bridge between our audiences and us as we transitioned to the digital delivery of our work. The films also introduced new audiences to the work we’ve been doing for many years to seed and cultivate the resurgence of the character virtues and humanitarian values of compassion, patience, resilience, solidarity and hope that we all recognized under lockdown as being essential to our safety, well-being, subsistence and recovery. The extended 6-min film is now being featured on Alchemiya, the Muslim Amazon-Prime add-on streaming channel as part of a collection of short films on British Muslim cultural artists and enterprises. From the beginning of May, we began to deliver online multimedia events on Zoom and YouTube with national (Harrow, Kensington & Chelsea, Essex, Milton Keynes) and international host partners (Washington DC, USA; Dubai, UAE; Darussalam, Tanzania; and Kuala Lumpur, Malaysia) delivering to date 8 online events benefitting at least 4000 people. These events included collections of tales of wisdom, wonder and humour from Muslim heritage on the occasions/themes of Ramadan, Eid al-Fitr and Hajj from Jalaluddin Rumi, Mulla Nasruddin and Mansa Musa, to name but a few. In addition to hosted online events, we conceived and began the creative adaptation of a collection of 4 short films called #QuarantineTales of reflection, trust, healing and deliverance as a response to Covid-19. So far we’ve delivered _Tale of the Sands_ (5mins) from Tunisia and will be releasing _Life & Death at the Well_ (6mins) from the Hausa people of West Africa in the autumn. So far this collection has benefitted at least 78,000 people internationally. ## Impact & Implications of Covid-19 In addition to migrating our project to the digital sphere, there are other critical impacts of the pandemic on our work: Lost Income: The inability to tour live physical performances has resulted in the loss of between £30-40K in fees from host partners. This has meant that we have had to devote a substantial amount of time to fundraising to secure the financial resources to cover the shortfall. We were fortunate to secure a 6-month Covid Emergency grant of £35K from the Arts Council of England in May that made up for much of this shortfall. Page 3 **The Khayaal Theatre Company Trustees Annual Report** Drop in Donations: We have seen a decline in donations from our supporters. We attribute this to the fact that our core BAME community audiences are disproportionately represented in the indices of multiple deprivations (60% of all Muslims live in the 20 most deprived local authorities in the United Kingdom) leading them to redirect their resources towards survival imperatives. Severely Impacted Communities: Our core community audiences are being disproportionately affected by Covid-19. Currently 33% of those infected and dying are BAME and Muslim communities represent the largest BAME community whereas BAME account for only 14% of society. Even after Covid-19 has passed, we believe there will be a consider time lag before our partner communities recover. Losses: Multiple, substantial and ultimately incalculable over time. ## **2019-2020 Facts & Figures** Highlights of 2019-20 include our engagements with the Alderman Bowen Disability Day Centre, Birmingham; Norton Rose Fulbright, London; Linklaters, London; University of Oxford; University of Bristol; Young Muslim Writers Awards, London; Revoluton, Luton; Date Valley School, Mitcham; Khidmah Weekend School, Slough and our Multifaith Stories tour of 10 Luton primary schools. Physical Output Physical Performances & Workshops: 35 Multi-Sector Host Partners: 30 Local Authorities Reached: 15 Live Audiences/Beneficiaries: 4,500 Sectors: Education, Social Care, Community, Faith/Interfaith, Culture, Charity, Academia and Corporate Digital Output (1) Hosted Online Performances: 8 Multi-Sector Host Partners: 6 Countries Reached: UK, USA, UAE, Tanzania, Canada, Malaysia Digital Audiences/Beneficiaries: 4,000 Sectors: Faith/Interfaith, Community, Culture and Education (2) Digital Content Offerings (Films and Audio): 8 Channels/Platforms: Facebook, Instagram, YouTube, Vimeo, Linked-In, Soundcloud, Alchemiya, TRT World, British Muslim TV, Islam Channel Digital Audiences/Beneficiaries: 100K min. Project offerings in order of quantity delivered: - Muslim Heritage Stories from Iraq, Palestine, China, Pakistan, Iran, India, Tunisia, Bangladesh, Yemen, Nigeria, Syria, Tanzania, Sierra Leone, Turkey, Uzbekistan etc. 80% - Multi-faith Stories from Hinduism, Judaism, Christianity, Islam and Sikhism 20% ## **Developments in the Wider Work of Khayaal 2019-2020** Riding a Donkey Backwards - A US version of our first children’s book was published in August ‘19 by Candlewick Press - Due to the success of the UK hardback, the title was published in paperback in the UK on 23rd January 2020. Page 4 **The Khayaal Theatre Company Trustees Annual Report** - The prestigious Little Angel children’s theatre in Islington has agreed to co-produce a puppet theatre production with us inspired by the book scheduled to launch for Eid al-Fitr in May 2021. - Riding a Donkey Backwards made the Reading Agency's #SummerReadingChallenge2020 to be called Silly Squad, and will be a celebration of funny books, happiness and laughter. In the US, the book made it into the Junior Library Guild Gold Selection. - ‘Riding a Donkey Backwards: Wise and Foolish Tales of Mulla Nasruddin’ was chosen by the United States Board on Books for Young People (USBBY) as an Outstanding International Book 2020. ## The British Muslim Community’s Engagement with Theatre Funded PhD Scholarship In December 2019, the Arts & Humanities Research Council and North West Consortium Doctoral Training Partnership approved a PhD partnership project between Khayaal Theatre and Manchester Metropolitan University School of Theatre over 2020-2023. This award is a huge breakthrough for Khayaal and opens the way for us to share over two decades of experience serving Muslim communities with the theatre sector and academia. ## **FINANCIAL REVIEW** During the year under review the charity received unrestricted income of £103,004 (2019: £95,408) and restricted income of £16,667 (2019: £8,334) and had an expenditure of £72,001 (2019: £93,201) and £16,667 (2019: £8,334) for unrestricted and restricted respectively. At the Balance Sheet date the charity held unrestricted funds of £51,800 (2019: £20,797). The purpose of this policy is to ensure that Khayaal TC is able to act in the interests of its charitable purposes and its beneficiaries, as well as protecting and safeguarding its assets and ensuring that due diligence is taken in complying with current legislation and good practice guidance. The Trustee Directors have established a reserves policy whereby a combination of the next quarter’s projected income together with unrestricted funds not committed or invested in tangible fixed assets (“the free reserves”) held by the theatre company are sufficient to cover current liabilities, commitments and activities/operations for 4 calendar months. The trustees have given due consideration to the ability of the Charity to continue as a going concern. Due to the continued the Charity receives from its donors and the public, the trustees are satisfied that the going concern basis remains appropriate. Furthermore, the Charity believes that the level of unrestricted funds held remains sufficient to support the activities of the Charity in the foreseeable future. Financial and risk management objectives and policies Risk mitigation has been central to the organisational management processes that have ensured that we have alternately survived and flourished for over two decades. We manage and mitigate risk by maintaining a high level of industry awareness and forecasting. This is achieved by monitoring developments in our sector and related sectors in the media and public forums. We also review our organisational SWOT analysis on a regular basis taking into consideration market trends here and abroad affording us continuous tracking across analysis factors. Where financial risk is concerned, we have primarily employed the combined strengths of scalability, commitment, ingenuity and passion in order to adapt to changing circumstances and transform challenges into opportunities. Our core staff and board of directors share responsibility for risk mitigation. Principal funding source Over the year 2019-20, our funding came from a mix of sources as follows: Page 5 **The Khayaal Theatre Company Trustees Annual Report** Grants 51% (Amal, Aziz Foundation and Arts Council of England) Donations & Gift Aid 32% Income from sales and services 16% (heavily impacted by Covid-19 / 34% in ’18-19) ## **PLANS FOR FUTURE PERIODS** We aim to preserve enterprise viability and relevance by using our own learning gained over the past months in conjunction with the University of Exeter’s Digital Theatre Transformation – a case study and digital toolkit in order to remodel our enterprise to incorporate symbiotic physical and digital service lines that will enable us to continue to serve and expand our underserved audiences both nationally and internationally. This will involve the following strands of cultural activity: ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 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. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102). Signed on behalf of the board F. Qureshi Trustee 09 October 2020 Page 6 **The Khayaal Theatre Company Independent Examiners Report** ## **Independent Examiner's Report to the trustees of The Khayaal Theatre Company** I report to the charity trustees on my examination of the accounts of The Khayaal Theatre Company for the year ended 31 July 2020 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet, the Statement of Cash Flows and the related notes. ## **Responsibilities and basis of report** As the trustees of the charity (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 charity 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** I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that: - accounting records were not kept in accordance with section 386 of the 2006 Act ; or - the accounts do not accord with those records; or - the accounts do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or - the accounts have not been prepared in accordance with the Charities SORP (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. Sajjad Tejani FCCA Sabat Accountants Ltd t/a Seymour King Suite G1 Hartsbourne House Delta Gain Watford WD19 5EF 09 October 2020 Page 7 **The Khayaal Theatre Company Statement of Financial Activities** ## **for the year ended 31 July 2020** |**Notes**
**Income and endowments**
**from:**
Donations and legacies
4
Charitable activities
5
Other
6
**Total**
**Expenditure on:**
Other
7
**Total**
Net gains on investments
**Net income**
8
Transfers between funds
**Net income before other**
**gains/(losses)**
**Other gains and losses**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**2020**
**£**
52,267
47,435
3,302|**Restricted**
**funds**
**2020**
**£**
-
16,667
-|**Total funds**
**2020**
**£**
52,267
64,102
3,302|**Total funds**
**2019**
**£**
62,237
36,834
4,671| |---|---|---|---|---| ||103,004
72,001|16,667
16,667|119,671
88,668|103,742
101,535| ||72,001
-|16,667
-|88,668
-|101,535
-| ||31,003
-|-
-|31,003
-|2,207
-| ||31,003|-|31,003|2,207| ||31,003
20,797|-
-|31,003
20,797|2,207
18,590| ||51,800|-|51,800|20,797| Page 8 **The Khayaal Theatre Company Summary Income and Expenditure Account** ## **for the year ended 31 July 2020** |Income
**Gross income for the year**
Expenditure
Depreciation and charges for
impairment of fixed assets
**Total expenditure for the year**
Net income before tax for the year
**Net income for the year**|**2020**
**£**
119,671
119,671
88,446
222
88,668
31,003
31,003|**2019**
**£**
103,742| |---|---|---| |||103,742| |||101,239
296| |||101,535| |||2,207| |||2,207| Page 9 **The Khayaal Theatre Company Balance Sheet** ## **at 31 July 2020** |**Company No.**
**03597083**
**Notes**
**2020**
**£**
**Fixed assets**
Tangible assets
10
665
665
**Current assets**
Cash at bank and in hand
57,135
57,135
**Creditors:**Amount falling due within one year
11
(6,000)
**Net current assets**
51,135
**Total assets less current liabilities**
51,800
**Net assets excluding pension asset or liability**
51,800
**Total net assets**
51,800
**The funds of the charity**
**Restricted funds**
12
Restricted income funds
-
-
**Unrestricted funds**
12
General funds
51,800
51,800
**Reserves**
12
**Total funds**
51,800|**2019**
**£**
887| |---|---| ||887
19,910| ||19,910
-| ||19,910
20,797| ||20,797| ||20,797| ||-| ||-
20,797| ||20,797| ||20,797| These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. For the year ended 31 July 2020 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. Approved by the board on 09 October 2020 And signed on its behalf by: F. Qureshi Trustee 09 October 2020 Page 10 **The Khayaal Theatre Company Statement of Cash flows for the year ended 31 July 2020** |**Cash flows from operating activities**
**Net income per Statement of Financial Activities**
**Adjustments for:**
Depreciation of property, plant and equipment
Dividends, interest and rents from investments
Other gains/losses
Increase in trade and other payables
**Net cash provided by/(used in) operating activities**
**Cash flows from investing activities**
Dividends, interest and rents from investments
**Net cash from investing activities**
**Net cash from financing activities**
**Net increase in cash and cash equivalents**
**Cash and cash equivalents at the beginning of the year**
**Cash and cash equivalents at the end of the year**
**Components of cash and cash equivalents**
Cash and bank balances|**2020**
**£**
31,003
222
(3,302)
-
6,000
33,923
3,302
3,302
-
37,225
19,910
57,135
57,135
57,135|**2019**
**£**
2,207
296
(4,671)
-
-| |---|---|---| |||(2,168)
4,671| |||4,671| |||| |||-| |||| |||2,503| |||17,407| |||19,910| |||| |||19,910| |||| |||19,910| Page 11 **The Khayaal Theatre Company Notes to the Accounts** ## **for the year ended 31 July 2020** - 1 **Accounting policies** ## **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)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. ## **Change in basis of accounting or to previous accounts** There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years. ## **Fund accounting** - Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. - Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. - Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal. ## **Income** - Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. - Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income. - Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets Page 12 **The Khayaal Theatre Company Notes to the Accounts** ## **Expenditure** - Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates. - Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs. - Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. - Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs. - Other expenditure These are support costs not allocated to a particular activity. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Tangible fixed assets and depreciation** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life: Plant & Machiney 25% Reducing balance Motor Vehicle 25% Reducing balance ## **Trade and other 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. ## **Cash and cash equivalents** Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management. ## **Trade and other creditors** Short term creditors are measured at the transaction price. Other 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. Page 13 **The Khayaal Theatre Company Notes to the Accounts** ## **Pension costs** The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds. ## 2 **Company status** The company is a private company limited by guarantee and consequently does not have share capital. ## 3 **Statement of Financial Activities - prior year** |**Income and endowments from:**
Donations and legacies
Charitable activities
Other
**Total**
**Expenditure on:**
Other
**Total**
**Net income**
**Net income before other**
**gains/(losses)**
**Other gains and losses:**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
4
**Income from donations and legacies**
Donations
Fees receivable
Friends' subscriptions|**Unrestricted**
**funds**
**2019**
**£**
62,237
28,500
4,671
95,408
93,201
93,201
2,207
2,207
2,207
18,590
20,797
**Unrestricted**
**£**
30,707
20,120
1,440
52,267|**Restricted**
**funds**
**2019**
**£**
-
8,334
-
8,334
8,334
8,334
-
-
-
-
-
**Total**
**2020**
**£**
30,707
20,120
1,440
52,267|**Total funds**
**2019**
**£**
62,237
36,834
4,671| |---|---|---|---| ||||103,742
101,535| ||||101,535| ||||2,207| ||||2,207| ||||2,207
18,590| ||||20,797| ||||**Total**
**2019**
**£**
25,753
35,094
1,390| ||||62,237| Page 14 **The Khayaal Theatre Company Notes to the Accounts** ## 5 **Income from charitable activities** |||**Unrestricted**|**Restricted**|**Total**|**Total**| |---|---|---|---|---|---| |||||**2020**|**2019**| |||**£**|**£**|**£**|**£**| ||Grants|47,435|16,667|64,102|36,834| |||47,435|16,667|64,102|36,834| |6|**Other income**||||| ||||**Unrestricted**|**Total**|**Total**| |||||**2020**|**2019**| ||||**£**|**£**|**£**| ||Gift Aid||3,302|3,302|4,671| ||||3,302|3,302|4,671| |7|**Other expenditure**||||| |||**Unrestricted**|**Restricted**|**Total**|**Total**| |||||**2020**|**2019**| |||**£**|**£**|**£**|**£**| ||Employee costs|14,606|5,685|20,291|16,875| ||Motor and travel costs|6,094|1,337|7,431|13,597| ||Amortisation, depreciation,||||| ||impairment, profit/loss on|222|-|222|296| ||disposal of fixed assets||||| ||General administrative costs|10,607|2,572|13,179|18,017| ||Legal and professional costs|10,785|3,575|14,360|16,921| |||42,314|13,169|55,483|65,706| |8|**Net income before transfers**||||| ||||**2020**||**2019**| ||This is stated after charging:||**£**||**£**| ||Depreciation of owned fixed assets||222||296| |9|**Staff costs**||||| ||Salaries and wages||20,291||16,875| ||||20,291||16,875| ||No employee received emoluments in excess of £60,000.||||| ||The average monthly number|of full time equivalent employees during the year was as follows:|||| ||||**2020**||**2019**| ||||**Number**||**Number**| ||Administration and
production||1||1| ||||1||1| Page 15 **The Khayaal Theatre Company Notes to the Accounts** ## 10 **Tangible fixed assets** |**Cost or revaluation**
At 1 August 2019
At 31 July 2020
**Depreciation and**
**impairment**
At 1 August 2019
Depreciation charge for the
year
At 31 July 2020
**Net book values**
At 31 July 2020
At 31 July 2019
11 **Creditors:**
amounts falling due within one year
Other creditors
12 **Movement in funds**
**Restricted funds:**
**Restricted income funds:**
Amal - Said Foundation
_Total_
**Unrestricted funds:**
**General funds**
**Revaluation Reserves:**
**Total funds**|**At 1 August**
**2019**
-
-
20,797
20,797|**Plant &**
**Machiney**
**£**
1,326
1,326
1,311
4
1,315
11
15
**2020**
**£**
6,000
6,000
**Incoming**
**resources**
**(including**
**other**
**gains/losses)**
**£**
16,667
16,667
103,004
119,671|**Motor**
**Vehicle**
**£**
18,716
18,716
17,844
218
18,062
654
872
**Resources**
**expended**
**£**
(16,667)
(16,667)
(72,001)
(88,668)|**Total**
**£**
20,042| |---|---|---|---|---| |||||20,042| |||||19,155
222| |||||19,377| |||||665| |||||887| |||||**2019**
**£**
-| |||||-| |||||**At 31 July**
**2020**
**£**
-| |||||-| |||||51,800| |||||51,800| Purposes and restrictions in relation to the funds: Restricted funds: Amal - Said Foundation Page 16 **The Khayaal Theatre Company Notes to the Accounts** ## 13 **Analysis of net assets between funds** |**Analysis of net assets between funds**||||| |---|---|---|---|---| |Fixed assets
Net current assets
**Reconciliation of net debt**
Cash and cash equivalents
Net debt|**At 1 August**
**2019**
**£**|**Cash flows**
**£**|**Unrestricted**
**funds**
**£**
665
51,135
51,800
**New**
**HP/Finance**
**leases**
**£**|**Total**
**£**
665
51,135| |||||51,800| |||||**At 31 July**
**2020**
**£**| ||19,910|37,225||57,135| ||19,910
19,910|37,225
37,225|-
-|57,135| |||||57,135| ## 14 **Reconciliation of net debt** ## 15 **Related party disclosures** ## _**Controlling party**_ The company is limited by guarantee and has no share capital; thus no single party controls the company. Page 17 **The Khayaal Theatre Company Detailed Statement of Financial Activities** ## **for the year ended 31 July 2020** |**Income and endowments from:**
Donations and legacies
Donations
Fees receivable
Friends' subscriptions
Charitable activities
Grants
Other
Gift Aid
**Total income and endowments**
**Expenditure on:**
Employee costs
Salaries/wages
Motor and travel costs
Travel and subsistence
General administrative costs,
including depreciation and
amortisation
Depreciation of Plant & Machiney
Depreciation of Motor Vehicle
Advertisement
Equipment leasing and hire
charges
General insurances
Refreshments
Stationery and printing
Subscriptions
Sundry expenses
Telephone, fax and broadband
Venue hire
Legal and professional costs
Accountancy and bookkeeping
Sub-Contractors|**Unrestricted**
**funds**
**2020**
**£**
30,707
20,120
1,440
52,267
47,435
47,435
3,302
3,302
103,004
14,606
14,606
6,094
6,094
4
218
623
1,300
704
2,474
4,766
249
437
677
29,064
40,516
266
10,297|**Restricted**
**funds**
**2020**
**£**
-
-
-
-
16,667
16,667
-
-
16,667
5,685
5,685
1,337
1,337
-
-
182
1,421
305
255
84
-
361
146
3,316
6,070
114
3,388|**Total funds**
**2020**
**£**
30,707
20,120
1,440
52,267
64,102
64,102
3,302
3,302
119,671
20,291
20,291
7,431
7,431
4
218
805
2,721
1,009
2,729
4,850
249
798
823
32,380
46,586
380
13,685|**Total funds**
**2019**
**£**
25,753
35,094
1,390| |---|---|---|---|---| |||||62,237| |||||36,834| |||||36,834| |||||4,671| |||||4,671| |||||103,742
16,875| |||||16,875| |||||13,597| |||||13,597| |||||5
291
3,417
5,442
1,340
2,569
6,488
390
654
1,134
32,412| |||||54,142| |||||360
16,291| Page 18 ## **The Khayaal Theatre Company Detailed Statement of Financial Activities** |Other legal and professional
costs
**Total of expenditure of other costs**
**Total expenditure**
Net gains on investments
**Net income**
**Net income before other**
**gains/(losses)**
Other Gains
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|20,797
51,800|221
10,785
72,001
72,001
-
31,003
31,003
-
31,003
-
-|74
3,575
16,667
16,667
-
-
-
-
-
-
-|295
14,360
88,668
88,668
-
31,003
31,003
-
31,003
20,797
51,800|270| |---|---|---|---|---|---| ||||||16,921| ||||||| ||||||101,535| ||||||101,535
-| ||||||2,207| ||||||2,207
-| ||||||2,207| ||||||18,590| ||||||20,797| Page 19