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2021-07-31-accounts

The Khayaal Theatre Company

Charity No. 1100005

Company No. 03597083

Trustees' Report and Unaudited Accounts

31 July 2021

The Khayaal Theatre Company Contents

Pages
Trustees' Annual Report 2 to 8
Independent Examiner's Report 9
Statement of Financial Activities 10
Summary Income and Expenditure Account 11
Balance Sheet 12
Statement of Cash flows 13
Notes to the Accounts 14 to 19
Detailed Statement of Financial Activities 20 to 21

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 2021.

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 particularly 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's books, training, advocacy and consultancy.

Page 2

The Khayaal Theatre Company Trustees Annual Report

ACHIEVEMENTS AND PERFORMANCE FOR 2020-2021

Due to the ongoing coronavirus pandemic and related restrictions, we continued to deliver the vast majority of our work online either through hosted virtual events using Zoom or through the streaming of existing and new digital content on our social media channels/platforms (YouTube, Facebook, Instagram, Linked-In and Twitter) and our Amazon Add-on partner, Alchemiya. We were fortunate to have had success in securing grant support from the first and second rounds of the DCMS/Arts Council England’ Cultural Recovery Fund in order to sustain our work through this most challenging time.

“I am sure the honourable lady will be aware of the many, many organisations and individuals working in Luton that have benefitted from that emergency funding, for example the brilliant Khayaal Theatre Company who as she knows are a multi-award winning theatre and drama education company …” – Caroline Dinenage, Minister of State for Digital and Culture applauded Khayaal by name in parliament on 22nd Sep ‘20 as part of an adjournment debate on arts and culture in Luton sponsored by Luton MP Rachel Hopkins.

Over the period August-December 2020, we delivered 11 online events comprising 12 performances/workshops and 9 offerings benefitting national and international audiences numbering 4000 mostly with new partners across four sectors (faith/interfaith, education, culture and commercial). The highlight of this period was our tremendously successful new performance storytelling offering, Muslim Nativity, commissioned by the Compass Network at Norton Rose Fulbright to console and inspire hope in its staff, partners, clients and friends through the Christmas and New Year holiday season in quarantine. Other partners over this five-month period included The Reading Agency UK; University of Sheffield’s Festival of the Mind; BPP University; Creation Theatre, Oxford; Muslim Cultural Heritage Centre, London and Birchfield Independent Girls School, Birmingham. Offerings included Riding a Donkey Backwards, Rumi Tales, 1001 Stories, Conference of the Birds and Muslim Heritage Stories.

“Atheist household here (raised Muslim and Christian) - very much enjoyed this and value the perspective. Nice to get multiple perspectives for our child.” – Atheist on Muslim Nativity

It’s a great production and she is a wonderful storyteller! It takes a real gift to keep attention with only your person and your voice. I think we could learn something of telling the story contextually from this. It was brilliant how it wove contemporary themes (and Christmas music) into the story (“Chestnuts roasting on an altar fire...”); poverty, injustice. And the haunting use of the melody of “O Come O Come Emmanuel, but contextually changed to an Islamic theme.” – Christian on Muslim Nativity

“A belated thank you for streaming the nativity again. I watched a few times over the short time it was streaming - captivated by the performance, ambience, and the learning from the prophetic story itself.” – Muslim on Muslim Nativity

We began 2021 anticipating an imminent return to physical touring of our on-demand Theatre-without-Walls (TwW) performance and workshop offerings in view of the sustained demand that we continued to receive from new and existing partners seeking to reconnect their communities. However, it was not until the end of March, a full year after the pandemic compelled us to migrate online that we were able to serve physical audiences. Thereafter, we were only able to intermittently tour TwW offerings to our national network of partners as and when government restrictions permitted us to do so. When this was not possible, we continued digital/virtual delivery especially through our peak Ramadan and Eid season when tens of thousands of people joined us on YouTube for new film adaptations of thematic collections of Muslim heritage stories that dovetailed with the 3 ten-day periods of Ramadan: Mercy, Forgiveness and Deliverance.

Page 3

The Khayaal Theatre Company

Trustees Annual Report

Preceding our YouTube channel storytelling offerings for Ramadan and Eid (Apr-May 21), we started the year shooting our long-awaited TwW special offering of the pandemic which we premiered on 28th February. Edhi Means Love proved a huge success with global audiences. The 40min film tells the story of the peerless Pakistani humanitarian of his time, Abdul Sattar Edhi, blending together theatre and film syntaxes in a compelling way that epitomised the creativity and ingenuity that characterised so much of the British cultural sector through the pandemic.

Over 1K people joined us online for the premier screening of Edhi Means Love and the overwhelming response was gratitude and acclaim for this first ever professional film production on the life and mission of the communitarian visionary who created a national welfare service for Pakistan from scratch. In subsequent monthly screenings between Feb-Aug, many hundreds more people joined us to reflect on and draw inspiration from this exemplar of the humanitarian values that people all over the world came to cherish and exemplify through the pandemic. Edhi Means Love was covered by BBC Asian Network, BBC 3 Counties, ARY Digital, The Daily Jang, Islam Channel and many local radio community stations across the country.

“My pleasure. Your virtual productions have been one of the highlights of this unusual year. My son loves them...” – Anthony Riccio on Edhi Means Love

"Thank you, Luqman Ali and team, for producing such an inspirational online event this evening with the Khayaal Theatre Company. I am feeling truly inspired now I know the story of Edhi and the beginning of the Edhi Foundation. A definite plus to track and trace self-isolation this week - much more interesting than my normal Thursday swimming lesson! #thankyou #humanitarian #edhimeanslove #ambulanceservice #charity #lovethis #loveforall #edhi" – Laura Marinello

“...I’ve just finished watching the film. It was as compelling as it was gripping. It has the force to move strong people to tears. ... For now can only say that you have made a major contribution towards civil society by making this film." – Ranjit Sondhi CBE on Edhi Means Love

“The film is beautiful. .. Faroque is brilliant!” – Shahidul Alam on Edhi Means Love

We were fortunate to attract new host partners, both national and international, for co-hosted online events comprising performances and/or workshops through the March-July 21 period. These included Sincletica Monastic School, Spain; Denbigh School, Milton Keynes; Old Catton CoE School, Norfolk; and Newham World Festival, London; Edhi Foundation UK and Luton Foodbank. The offerings shared with these partners included Edhi Means Love, Muslim Nativity and House of Wisdom in the Golden Age of Islam for Key Stage 2 pupils.

2020-2021 Facts & Figures

Physical Output

Physical Performances & Workshops: 8 Multi-Sector Host Partners: 2 Local Authorities Reached: 2 Live Audiences/Beneficiaries: 220

Sectors: Education

Page 4

The Khayaal Theatre Company Trustees Annual Report

Digital Output (1)

Hosted Online Performances: 21

Multi-Sector Host Partners: 12

Countries Reached: UK, USA, South Africa, Canada, Pakistan, Spain and beyond Digital Audiences/Beneficiaries: 5,500

Sectors: Faith/Interfaith, Community, Culture, Education, Academia, Charity and Commercial

(2)

Digital Content Offerings (Films and Audio): 14

Channels/Platforms: Facebook, Instagram, YouTube, Vimeo, Linked-In, Soundcloud, Alchemiya, Islam Channel, BBC Asian Network Digital Audiences/Beneficiaries: 200K minimum

Project offerings in order of quantity delivered:

• Other: Adventures in Sustainable Play, House of Wisdom in the Golden Age of Islam, Muslim Nativity, Edhi Means Love, Riding a Backwards and Conference of the Birds 20%

New performances and workshops researched, developed, produced and presented:

Total of 399mins or 6.6hrs of new offerings

Developments in the Wider Work of Khayaal 2020-2021

https://aboutislam.net/muslim-issues/europe/uk-law-firm-celebrates-jesus-in-islam/

Page 5

The Khayaal Theatre Company Trustees Annual Report

• Muslim Nativity and Edhi Means Love raised over £2K in for charity partners Edhi Foundation and Luton Foodbank

• This year an exchange in parliament demonstrated the way in which discrimination and exclusion work. As part of an adjournment debate that she sponsored on 22nd September, Luton MP Rachel Hopkins while advocating for a particular non-BAME Luton-based arts organization erroneously asserted that the only Luton arts organization eligible to apply to the DCMS’s Cultural Recovery Fund was the one she was referencing. In doing so, she discriminated against and excluded by omission Khayaal, which is the oldest professional theatre company in Luton. In our experience, this type of exclusion usually passes without correction or challenge, hence the disadvantage and deprivation we’ve long endured. Fortunately for us on this occasion, however, party politics worked in our favour as the Conservative Culture Secretary had done her homework and left our local Luton MP on the back foot by countering that there were other arts organisations that were eligible to apply and proceeded to applaud Khayaal and list it among local Luton arts organisations that were supported by the Arts Council’s initial Covid-19 emergency fund.

• We continued to advocate for justice and equity in the UK cultural sector for BAME audiences, artists, cultural practitioners and cultural producers in relation to socio-cultural opportunities, recognition, access to public space, funding and representation. Interlocutors on these issues included Arts Council England, Esmee Fairbairn Foundation, Paul Hamlyn Foundation and Amal. Despite public acknowledgements of structural injustice and inequity in the sector and the formulation of new funding policies to address these issues on the part of funders and development agencies in the wake of George Floyd, Windrush and the disproportionate impact of Covid on minority communities, we continued to experience exclusion and a lack of understanding of the society-wide inequalities and disparities that stifle the aspirations of minority cultural actors. These include but are not limited to unjustifiably high thresholds and inflated expectations on the part of funders when it comes to scale of operation, impact and turnover that can only be based on the erroneous assumption that minority cultural producers benefit from equal access to resources and opportunities and a level playing field. By evidencing the wide socio-economic and socio-cultural disparities that disadvantage BAME communities when it comes to average household wealth, employment prospects, physical and mental health outcomes, acceptance and belonging and multiple deprivation, we endeavoured to convince our interlocutors that real equity means calibrating threshold and expectation criteria for support to the realities of the lived experience of minorities in the round. For example, when the average household wealth of a white British family (£314K) is ninefold that of a black African family (£34K), it is manifestly clear that the socio-economic barriers to socio-cultural inclusion and stake-holding where the arts are concerned are in no way comparable.

FINANCIAL REVIEW

During the year under review the charity received unrestricted income of £147,106 (2020: £103,004) and restricted income of £16,666 (2020: £16,667) and had an expenditure of £61,083 (2020: £72,001) and £16,667 (2020: £16,667) for unrestricted and restricted respectively. At the Balance Sheet date the charity held unrestricted funds of £59,601 (2020: £51,800).

Reserves policy

The Trustee Directors have established a reserves policy that holds that unrestricted funds equivalent to a minimum of 12 weeks of the last complete financial year’s turnover be held by the theatre company to cover current liabilities, commitments and activities/operations for four calendar months. This equates to £23,770.

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.

Page 6

The Khayaal Theatre Company Trustees Annual Report

The trustees have given due consideration to the ability of the Charity to continue as a going concern. Due to the continued support the charity receives from its donors and the public, the trustees are satisfied that the going concern basis remains appropriate in preparing these financial statements. Furthermore, the charity believes that the level of unrestricted funds held remains sufficient to support the activities of the charity in the foreseeable future.

Going concern

The trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. The trustees regard the foreseeable future as no less than twelve months following the publication of the Charity's annual financial statements. The trustees have considered the Charity's balance sheet position and reserves as at the year end, the future plans for the Charity and the impact of the current Covid-19 crisis, taking account of reasonable possible changes in the income of the Charity and are satisfied that the Charity has sufficient resources to remain in operational existence. Accordingly, they have adopted going concern basis in preparing these financial statements.

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 2020-21, our funding came from a mix of sources as follows:

• In-Kind support and resources in terms of underpaid core staff time relative to multidisciplinary expertise and experience, volunteer time, host partners’ contributions of performance spaces, digital channels, staff time, publicity, etc. have been quantified and valued monetarily as equivalent to at least 50% of cash turnover at £80K

PLANS FOR FUTURE PERIODS

• We will work to recover from the pandemic and resume our physical fulfilment of national demand for our Theatre-without-Walls performance and workshop offerings serving mostly disadvantaged and socio-culturally neglected or underserved minority audiences while also retaining and servicing our global digital/online audiences with seasonal film and audio productions. We aim to remodel our socio-cultural enterprise model after the pandemic to incorporate symbiotic physical and digital service lines for wider reach, deeper impact and legacy.

Page 7

The Khayaal Theatre Company Trustees Annual Report

• We will lay the foundations for continuous drama academy provision integrating drama, character virtues and Muslim literature beginning with monthly drama academies for mainly but not solely Muslim children aged 5-15 in Cambridge, Luton and NW London. Once we have established the monthly provision, we will then work to expand to fortnightly and later weekly provision. The Cambridge academy has been up and running for 6 months to date, so this work is well underway.

trusts/foundations. This will include preparing and submitting an application to Arts Council England to join the National Portfolio of Arts Organisations through 2023-2026.

• We will initiate work on our 3-year funded PhD project on British Muslim Engagement with Theatre in partnership with Manchester Metropolitan University, the Arts and Humanities Research Council and North West Consortium Doctoral Training Partnership. The project will be delivered by our successful applicant doctoral student Serena Slack-Robins who returns to Khayaal after working with us 23 years ago on our debut production, Conference of the Birds.

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 21 February 2022

Page 8

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 2021 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:

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 21 February 2022

Page 9

The Khayaal Theatre Company Statement of Financial Activities

for the year ended 31 July 2021

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
2021
£
25,757
121,349
-		 Restricted
funds
2021
£
-
16,666
-		 Total funds
2021
£
25,757
138,015
-		 Total funds
2020
£
52,267
64,102
3,302
147,106
139,736		 16,666
16,235		 163,772
155,971		 119,671
88,668
139,736
-		 16,235
-		 155,971
-		 88,668
-
7,370
-		 431
-		 7,801
-		 31,003
-
7,370 431 7,801 31,003
7,370
51,800		 431
-		 7,801
51,800		 31,003
20,797
59,170 431 59,601 51,800

Page 10

The Khayaal Theatre Company Summary Income and Expenditure Account

for the year ended 31 July 2021

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		 2021
£
163,772
163,772
153,209
2,762
155,971
7,801
7,801		 2020
£
119,671
119,671
88,446
222
88,668
31,003
31,003

Page 11

The Khayaal Theatre Company Balance Sheet

at 31 July 2021

Company No.
03597083
Notes
2021
£
Fixed assets
Tangible assets
10
11,647
11,647
Current assets
Cash at bank and in hand
49,985
49,985
Creditors:Amount falling due within one year
11
(2,031)
Net current assets
47,954
Total assets less current liabilities
59,601
Net assets excluding pension asset or liability
59,601
Total net assets
59,601
The funds of the charity
Restricted funds
12
Restricted income funds
431
431
Unrestricted funds
12
General funds
59,170
59,170
Reserves
12
Total funds
59,601		 2020
£
665
665
57,135
57,135
(6,000)
51,135
51,800
51,800
51,800
-
-
51,800
51,800
51,800

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 2021 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 21 February 2022

And signed on its behalf by:

F. Qureshi Trustee 21 February 2022

Page 12

The Khayaal Theatre Company Statement of Cash flows for the year ended 31 July 2021

Cash flows from operating activities
Net income per Statement of Financial Activities
Adjustments for:
Depreciation of property, plant and equipment
Other gains/losses
(Decrease)/Increase in trade and other payables
Net cash provided by operating activities
Cash flows from investing activities
Payments for property, plant and equipment
Net cash (used in)/from investing activities
Net cash from financing activities
Net (decrease)/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		 2021
£
7,801
2,762
-
(3,969)
6,594
(13,744)
(13,744)
-
(7,150)
57,135
49,985
49,985
49,985		 2020
£
31,003
222
-
6,000
33,923
-
3,302
-
37,225
19,910
57,135
57,135
57,135

Page 13

The Khayaal Theatre Company Notes to the Accounts

for the year ended 31 July 2021

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

Income

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 14

The Khayaal Theatre Company Notes to the Accounts

Expenditure

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 15

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.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

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		 Unrestricted
funds
2020
£
52,267
47,435
3,302
103,004
72,001
72,001
31,003
31,003
31,003
20,797
51,800		 Restricted
funds
2020
£
-
16,667
-
16,667
16,667
16,667
-
-
-
-
-		 Total funds
2020
£
52,267
64,102
3,302
119,671
88,668
88,668
31,003
31,003
31,003
20,797
51,800

Page 16

The Khayaal Theatre Company Notes to the Accounts

4 Income from donations and legacies

4
Income from donations and legacies
Donations
Fees receivable
Friends' subscriptions
5
Income from charitable activities
Grants
6
Other income
Gift Aid
7
Other expenditure
Employee costs
Motor and travel costs
Amortisation, depreciation,
impairment, profit/loss on
disposal of fixed assets
General administrative costs
Legal and professional costs
8
Net income before transfers
This is stated after charging:
Depreciation of owned fixed assets		 Unrestricted
£
121,349
121,349
Unrestricted
£
34,858
6,540
2,688
57,763
37,886
139,736		 Unrestricted
£
13,227
10,790
1,740
25,757
Restricted
£
16,666
16,666
Restricted
£
5,713
1,119
74
5,624
3,706
16,235
2021
£
2,762		 Total
2021
£
13,227
10,790
1,740
25,757
Total
2021
£
138,015
138,015
Total
2021
£
-
-		 Total
2020
£
30,707
20,120
1,440
52,267
Total
2020
£
64,102
64,102
Total
2020
£
3,302
3,302
Total
2021
£
40,571
7,659
2,762
63,387
41,592
155,971		 Total
2020
£
20,291
7,431
222
13,179
14,360
55,483
2020
£
222

Page 17

The Khayaal Theatre Company Notes to the Accounts

9
Staff costs
Salaries and wages
40,455
40,455
No employee received emoluments in excess of £60,000.
The average monthly number of employees during the year was as follows:
2021
Number
Administration and production
4
4
10 Tangible fixed assets
Plant &
Machiney
£
Cost or revaluation
At 1 August 2020
1,326
Additions
13,744
At 31 July 2021
15,070
Depreciation and
impairment
At 1 August 2020
1,315
Depreciation charge for the
year
2,598
At 31 July 2021
3,913
Net book values
At 31 July 2021
11,157
At 31 July 2020
11
11 Creditors:
amounts falling due within one year
2021
£
Other creditors
2,031
2,031		 Motor
Vehicle
£
18,716
-
18,716
18,062
164
18,226
490
654		 20,291
20,291
2020
Number
1
1
Total
£
20,042
13,744
33,786
19,377
2,762
22,139
11,647
665
2020
£
6,000
6,000

Page 18

The Khayaal Theatre Company Notes to the Accounts

12 Movement in funds

At 1 August
2020
Restricted funds:
Restricted income funds:
Amal - Said Foundation
-
Total
-
Unrestricted funds:
General funds
51,800
Revaluation Reserves:
Total funds
51,800
Purposes and restrictions in relation to the funds:
Restricted funds:
Amal - Said Foundation
13 Analysis of net assets between funds
Fixed assets
Net current assets
14 Reconciliation of net debt
Cash and cash equivalents
Net debt		 Incoming
resources
(including
other
gains/losses)
£
16,666
16,666
147,106
163,772		 Resources
expended
£
(16,235)
(16,235)
(139,736)
(155,971)		 At 31 July
2021
£
431
431
59,170
59,601
Unrestricted
funds
£
11,217
47,954
59,171
At 1 August
2020
£		 Restricted
funds
£
430
-
430
Cash flows
£		 Total
£
11,647
47,954
59,601
At 31 July
2021
£
57,135 (7,150) 49,985
57,135
57,135		 (7,150)
(7,150)		 49,985
49,985
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 19

The Khayaal Theatre Company Detailed Statement of Financial Activities

for the year ended 31 July 2021

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
Staff training
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
2021
£
13,227
10,790
1,740
25,757
121,349
121,349
-
-
147,106
34,858
-
34,858
6,540
6,540
2,524
164
8,804
618
1,840
1,636
9,538
884
1,302
1,780
31,361
60,452
934
36,852		 Restricted
funds
2021
£
-
-
-
-
16,666
16,666
-
-
16,666
5,597
116
5,713
1,119
1,119
74
-
232
770
309
241
-
-
463
135
3,474
5,697
116
3,590		 Total funds
2021
£
13,227
10,790
1,740
25,757
138,015
138,015
-
-
163,772
40,455
116
40,571
7,659
7,659
2,598
164
9,036
1,388
2,149
1,877
9,538
884
1,765
1,915
34,835
66,149
1,050
40,442		 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

Page 20

The Khayaal Theatre Company Detailed Statement of Financial Activities

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		 100
37,886
139,736
139,736
-
7,370
7,370
-
7,370
51,800
59,170		 -
3,706
16,235
16,235
-
431
431
-
431
-
431		 100
41,592
155,971
155,971
-
7,801
7,801
-
7,801
51,800
59,601		 295
14,360
88,668
88,668
-
31,003
31,003
-
31,003
20,797
51,800

Page 21