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2024-07-31-accounts

The Khayaal Theatre Company

Charity No. 1100005

Company No. 03597083

Trustees' Report and Unaudited Accounts

31 July 2024

The Khayaal Theatre Company Contents

Pages
Trustees' Annual Report 2 to 17
Independent Examiner's Report 18
Statement of Financial Activities 19
Summary Income and Expenditure Account 20
Balance Sheet 21
Statement of Cash flows 22
Notes to the Accounts 23 to 29
Detailed Statement of Financial Activities 30 to 31

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 2024.

REFERENCE AND ADMINISTRATIVE DETAILS

Company No. 03597083 Charity No. 1100005

Registered Office Flat 2 Primrose Close Luton LU3 1EU

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:

A.G. Mian (Appointed 19 June 2024) R. Mughal (Resigned 19 June 2024) S.H.H. Naqvi (Resigned 16 February 2024) 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 the national touring of on-demand, small scale and highquality stage performances delivered under its Theatre-without-Walls programme; running drama academies; devising and running theatre-in-education programmes; prospecting for and developing artistic talent; publishing children’s books; training; advocacy and consultancy.

Page 2

The Khayaal Theatre Company Trustees Annual Report

ACHIEVEMENTS AND PERFORMANCE

Theatre-without-Walls Programme August – December 2023

Excited by the prospect of our first full year of normal physical delivery following the pandemic, we began our year responding with alacrity to surging demand from our growing national multisector network of partners. Over the Aug-Dec 2023 period, we delivered 27 physical touring events nationally comprising 41 performances and workshops benefitting diverse and intergenerational audiences numbering 3000 people working with 24 mostly new partners (58%) across five sectors (community, education, culture and faith/interfaith and local government) in 11 local authorities in the East, East Midlands, West Midlands, Southeast and Greater London regions.

A highlight of this period included a resumption of our annual tour began in July ’23 of Multifaith Stories (Hinduism, Judaism, Christianity and Islam) on the themes of humanitarian values, character virtues and good neighbourliness to 11 primary schools in our hometown of Luton for the third year since 2017. 2000 pupils across primary years 3-6 interactively explored and celebrated the golden rule and dream of virtue upon which their respective faith traditions converge contributing to interfaith understanding, respect and conviviality across the town (75% of Lutonians subscribe to a religion).

Eleanor Martin converses with enthusiastic pupils at William Austin Primary School, Luton after Multifaith Stories 7[th ] Mar ‘24

A demon slaying heroine, a resilient cobbler, a punctilious baker, a bereaved youth and their respective supporting casts draw on a constellation of character virtues to find meaning, purpose and success in their lives. This collection of four wisdom tales from Hinduism, Judaism, Christianity and Islam explores humanitarian values common to all of the faith traditions inviting Key Stage 2 pupils to identify, articulate and reflect on these values and their currency in and relevance to their lives. The stories are theatrically performed over 50 minutes followed by 10-15 minutes of conversation with options for extended engagement through games and exercises.

"All of our schools were privileged this week to receive a visit from the wonderful Khayaal Theatre, who performed a series of multi-faith stories, exploring key values that exist within different faiths. The collection of 4 tales hailed from Hinduism, Judaism, Christianity and Islam, and encouraged the children to show these values in their day-to-day lives, treating others with respect, fairness,

.

Page 3

The Khayaal Theatre Company Trustees Annual Report

love and empathy. A wonderful experience for the pupils involved. #pioneerpromise #Unity #Respect Chantry Primary Academy Whitefield Primary Academy Southfield Primary Academy" – Pioneer Learning Trust, 16 Sep 2023

– Yvonne Abba-Opoku, King Charles III Charitable Fund, 17 Nov 2023

Other highlights over this 5-month period (Aug-Dec ’23) included welcoming new partners to our national network including Bedford Creative Arts, South London Interfaith Group, Croydon; Landmark Theatres, Peterborough; Barnet Hill Academy, Barnet; Arts Depot, Barnet; and Langley Park School for Boys, Bromley for whom we delivered performances, workshops and CPD training for teachers on using dramatic storytelling in their classrooms.

" On behalf of the entire LPSB community, I would like to express our deepest gratitude for Khayaal Theatre’s recent visit and the remarkable performances delivered at our school. It was an absolute privilege to have Eleanor share her talent and wisdom with us. Eleanor’s performances left a profound impact on everyone who attended. Her powerful storytelling resonated deeply, sparking conversations and inspiring our students to think critically about the world around them. " – Miss F. Akmal, LPSB

----- Start of picture text -----
Eleanor Martin fields questions from excited pupils at
Langley Park School for Boys after performance of
Muslim Heritage Stories on 28 Nov ‘23
----- End of picture text -----

Theatre-without-Walls Programme January – July 2024

Despite mounting challenges to our work posed by the adverse impacts of convulsions in the Middle East and a fast-approaching spring premises relocation precipitated by our landlords’ plan to sell the property that served as our operating base since 2017, we began the calendar year thinking about the resourcefulness, agility and resilience we’d need to navigate uncertainties and instability. Having endured formidable and manifold challenges for fast closing on 27 years, we proceeded with trust, confidence and determination to continue serving our diverse and growing audiences.

Page 4

The Khayaal Theatre Company Trustees Annual Report

Over the course of the seven-month period spanning January-July 2024, we delivered 34 physical touring events nationally comprising 49 performances and workshops benefitting diverse and intergenerational audiences numbering 5,500 people working with 38 mostly repeat partners (repeat 71% - new 29%) across seven sectors (academia, charity, community, culture, education, faith/interfaith and health) in 11 local authorities in the East, East Midlands, West Midlands, South East, Yorkshire & Humber and Greater London regions.

Highlights of this period include a popular performance of Muslim Heritage Tales on the theme of success at Corpus Christi College in Oxford with Oxford University Islamic Society in February, sellout performances of Tales till Ramadan for the second year in The Door Studio at Birmingham Rep in March, a hugely successful performance of Eid Stories at The Key Theatre, Peterborough in April and our 4th annual tour of Multifaith Stories (Hinduism, Judaism, Christianity and Islam) to 10 Luton primary schools in July. This tour was so successful that it led to us receiving an invite to adapt and transfer the concept for the benefit of Luton secondary schools the first of which was Challney Girls’ School where we shared an ecologically themed collection of wisdom tales from three Dharmic faith traditions: Hinduism, Buddhism and Sikhism with 250 Year 8 pupils.

George Barnett of the Key Theatre, Peterborough thanks (l to r) Nazra Zuhyle, Eleanor Martin and Junayd Ul-Islam for their performances of Eid Stories on 29[th ] Apr ‘24

Another notable development over this period was the initiation of a new partnership with Outside Edge Theatre Company involving the application of our work to the improvement of mental health outcomes for Muslim service users in the London boroughs of Newham and Tower Hamlets as part of a project funded by The Baring Foundation. Responses to the initial twin pilot performance and workshops sessions that we delivered in the boroughs on 17th and 24th April were so positive that we were engaged to deliver 16 weekly drop-in sessions in Tower Hamlets from January ’25.

Page 5

The Khayaal Theatre Company Trustees Annual Report

Eleanor Martin, Luqman Ali and Mohammed Sesay, Khayaal Directors, facilitate a drama-based workshop pilot for mental health service users in partnership with Outside Edge TC in Tower Hamlets on 17[th ] Apr ‘24.

Other partners over this period were Miraj Banqueting Suite, Bradford; Gladstone Connect, Peterborough; William Austin PS, Luton; Hand on Heart Charity, Hillingdon; The Curve, Slough; Alif New Beginnings, Luton; Oakwood PS, Luton; Tower Hamlets BC, London; Foxdell Juniors. Luton; Manor Side PS, Finchley; Burlington Junior School, New Malden; Arts Depot, Barnet; The King’s Trust, London; Randeree Charitable Trust, London; Mosaic, London; Luton Culture; Wardown Museum, Luton; Sacred Heart PS, Luton; Near Neighbours; Ramridge PS, Luton; St Margaret of Scotland PS, Luton; St Martin de Porres PS, Luton; Wenlock CoE PS, Luton; Southfield PA, Luton; Whitefield PA, Luton; Maidenhall PS, Luton; Downside PS, Luton; Chantry PA, Luton; The Hub, Solihull; London Borough of Newham; and Forest Gate Community Garden, Newham.

Eleanor discusses Bangladeshi folktales with delighted audience members after a performance of Stories from Central-South Asia in Newham on 29[th ] Jul ‘24.

Page 6

The Khayaal Theatre Company Trustees Annual Report

Theatre-without-Walls Programme 2023-2024 Facts & Figures

Physical Output

Events: 61 (53 in 22-23 | 49 in 21-22)

Physical Performances & Workshops (units): 90 (86 in 22-23 | 79 in 21-22)

Multi-Sector Host Partners: 48 (53 in 22-23 | 44 in 21-22)

Local Authorities Reached: 17 (25 in 22-23 | 25 in 21-22)

Live Audiences/Beneficiaries: 8,500 (7,500 in 22-23) (34% of potential audience based on logged demand)

Average Lead Time (from booking to delivery): 5 weeks

Sectors: Academia, Charity, Community, Culture, Education, Health, Faith/Interfaith and Local Government

Requests Logged: 125 (130 in 22-23 | 146 in 21-22)

New Partners/Requests: 88 (91 in 22-23 | 84 in 21-22) from UK, Sweden, Indonesia, Pakistan, Germany, India and USA

Repeat Partners/Requests: 37

Estimated Potential Physical Audience: 25,000

Artists & Staff (core, freelance and volunteers): 14

Kat Ali, Luqman Ali, Mohammed Ali, Yusef Ali, Thomas Gray, Nazar Hadi, Junayd Islam, Ryad Khodabocus, Eleanor Martin, Serena Slack-Robins, Bela Romer, Mohammed Sesay, Abbas Shah and Nazra Zuhyle (78% from racialised/minoritised communities)

Digital Output

Digital Content Offerings (Films and Audios): 14

Channels/Platforms: Facebook, Instagram, YouTube, Vimeo, Linked-In, Soundcloud and Amazon Add- on Channel, Alchemiya

Digital Audiences/Beneficiaries: 50K minimum

Project offerings in order of quantity delivered:

Page 7

The Khayaal Theatre Company Trustees Annual Report

Muslim Heritage Stories promoting and celebrating humanitarian values from Afghanistan, Albania, Algeria, Saudi Arabia, Iraq, Palestine, China, Pakistan, Iran, India, Tunisia, Bangladesh, Yemen, Mali, Malaysia, Nigeria, Syria, Lebanon, Somalia, Tanzania, Sierra Leone, Turkey, Syria, Uzbekistan, Andalusia, Yemen, Sudan, East Africa, West Africa, Canada etc. 80%

Other: House of Wisdom in the Golden Age of Islam, Multifaith Stories, Muslim Nativity, Edhi Means Love, and Riding a Donkey Backwards 20%

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

Storytelling Theatre Performances

Total of 105 minutes of new offerings

Drama and Storytelling Training Workshops

Page 8

The Khayaal Theatre Company Trustees Annual Report

Company, 90mins

Total of 22 hours 30 minutes of new offerings

Drama Academy Project

Khayaal continued investing ground-breaking conceptual, pedagogical and dramaturgical creativity in laying the foundations for the development of a culturally sensitive and affirmative drama academy curriculum that brings together character virtues, Muslim heritage stories and drama education for especially Muslim children spanning the ages of 3-16 through 2023-24.

We continued delivery of a monthly drama academy for children each comprising 3 sessions for children aged 3-5, 5-7 and 8-14 respectively at CQC on Radegund Road, Cambridge for the third full year. Over this reporting term, we delivered 8 academy days comprising a total of 24 sessions benefitting 35 children and 20 families.

We continued delivery of a fortnightly academy for children aged 5-7 and 8-11 at Friends Meeting House, Crawley Green Road, Luton for a second full year over the months Sep ’23 – July ‘24. By the end of this reporting period, we had delivered 22 sessions for 5-7s and 8- 11s benefitting 16 children and 12 families.

In October ’23 after months of planning and community consultations, we launched an initial 8 monthly session pilot for 6–12-year-old Muslim children mainly of Turkish heritage in New Malden, SW London at the Shiraz Mirza Community Hall that successfully ran until May ’24 benefitting 20 children and 14 families. Thereafter we took some time to take stock nd process what we learned before resuming the monthly sessions in response to sustained local community demand in December ’24.

Luton Drama Academy pupils ages 5-8 present the end of the year showcase for their families and friends on 13[th ] Jul ‘24 BO

Page 9

The Khayaal Theatre Company Trustees Annual Report

“ My daughter really looks forward to the Khayaal storytelling sessions. It is very hard to find anything like this on offer and yet it is so valuable to children's development. As a teacher, we recognise creativity is such an important quality for our youngsters to have. The ability to imagine and be creative are critical skills to help prepare children for the fast-changing world in which they will grow up in and which is likely to be so different to the one we as parents experienced. These engaging and fun sessions accomplish so much. My daughter enters into a beautiful and empowering world of stories where she is not simply a listener and observer but actively engages with and retells in her own way how the characters develop and interprets the ideas shared to make the story truly come alive. She has learnt how to become more articulate, widen her vocabulary and confident to express herself … ” – Elif Ucar 12 May 2024, Luton

Drama Academies

2023-2024 Facts & Figures

3 Locations

38 Session Days

54 Workshops Developed and Delivered 71

Participant Children

46 Beneficiary Families

Developments in the Wider Work of Khayaal 2023-2024

Page 10

The Khayaal Theatre Company Trustees Annual Report

Spotlight Speaker for Windsor Leadership Emerging Strategic Leaders Programme at St. George’s House, Windsor Castle on 21[st ] Nov ‘23.

“ Loved his thoughts and experiences on the power of story and narrative and its potential to cross cultural, social and religious lines. ” – Emerging Strategic Leader

“ I think Luqman, his vision and his inspiration were just what I needed for my role with the charity. His outlook reinforced my thought pattern and this was unexpected for me. I was grateful for his candour and storytelling. ” – Emerging Strategic Leader

“ Luqman was quite unique in his thought process but provoked thought into how his ideas could translate into the workplace, for instance making time for generative imagination. ” – Emerging Strategic Leader

“ It was so interesting to hear the barriers to singing specifically in Muslim communities; this wasn't something I knew anything about before and it has definitely made me want to find out more. ” – Participant

Page 11

The Khayaal Theatre Company Trustees Annual Report

Metropolitan University, the Arts and Humanities Research Council and North West Consortium Doctoral Training Partnership. However, due to the impact of the pandemic, the term of the project has had to be extended to 2026.

Page 12

The Khayaal Theatre Company Trustees Annual Report

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.

“ For every £1 of White British wealth, Indian households have 90-95p, Pakistani households 50p, Black Caribbean 20p, and Black African and Bangladeshi households have 10p. ” – Runnymede Trust 2024

“ Muslim households have a greater chance of being in poverty than those of any other religious group in the country. Having taken all possible causal factors into account, the team concluded that discrimination and prejudice “are having real and measurable consequences for Muslim groups in British society ”. – The Centre for Social Investigation at the University of Oxford’s Nuffield College 2021

“ In Britain, evidence suggests that Muslims experience the greatest faith penalty relative to any other religious group even after adjusting for the aforementioned factors (Khattab 2009; Berthoud and Blekesaune 2007; Khattab and Modood 2015). This phenomenon is known as the “Muslim Penalty” (Connor and Koenig 2015, 198) ”. – Samir Swelda-Metwally, 12 July 2022

Monitoring & Evaluation

Company

Overall evaluation and risk analysis of the company’s activities over the year using internal measurements and indicators and assessment of the satisfaction of staff, volunteers, partners and beneficiaries resulted in the following key findings:

Performances & Workshops

Page 13

The Khayaal Theatre Company Trustees Annual Report

“ Absolutely enchanting and captivating. Thank you, Sister. And you are so beautiful, Masha’Allah, with your colourful robes and beautiful expressions. It felt wonderful to see Muslim stories come to life. May Allah bless you with a fulfilling Ramadan … ” – Zainab, Muslim audience member on Tales till Ramadan at Birmingham Rep, 29 Feb – 2 Mar 2024

“ I managed to see the show this year and really enjoyed it – the tale of the doctor really grabbed me, and the story from Palestine felt very poignant and hope inspiring. " – Tessa, non-Muslim audience member on Tales till Ramadan at Birmingham Rep, 29 Feb – 2 Mar 2024

Page 14

The Khayaal Theatre Company Trustees Annual Report

FINANCIAL REVIEW

During the year under review the charity received unrestricted income of £133,049 (2023: £81,402) and restricted income of £Nil (2023: £20,000) and had an expenditure of £110,143 (2023: £113,243) and £49 (2023: £21,859) for unrestricted and restricted respectively. At the Balance Sheet date the charity held unrestricted funds of £82,066 (2023: £59,160) and restricted funds of £6,828 (2023: £6,877).

Reserves policy

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 that holds that unrestricted funds equivalent to a minimum of 17 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.

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.

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 2023-24, our funding came from a mix of sources as follows:

Page 15

The Khayaal Theatre Company Trustees Annual Report

digital channels, staff time, publicity, administration; etc. have been quantified and valued monetarily as equivalent to at least 55% of cash turnover at £73K.

PLANS FOR FUTURE PERIODS

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

Page 16

The Khayaal Theatre Company Trustees Annual Report

accordance with the Charities SORP (FRS 102).

Signed on behalf of the board

F. Qureshi Trustee 22 April 2025

Page 17

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 financial statements of The Khayaal Theatre Company for the year ended 31 July 2024.

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 financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.

Having satisfied myself that the financial statements 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 financial statements 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:

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 financial statements to be reached.

Sajjad Tejani FCCA Sabat Accountants Ltd t/a Seymour King Suite G1 Hartsbourne House Delta Gain Watford WD19 5EF 22 April 2025

Page 18

The Khayaal Theatre Company Statement of Financial Activities

for the year ended 31 July 2024

for the year ended 31 July 2024
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/(expenditure)
8
Transfers between funds
Net income/(expenditure)
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
2024
£
60,002
68,750
4,297



Restricted
funds
2024
£

-
-
-
Total funds
2024
£


60,002

68,750

4,297
Total funds
2023
£

59,612

40,000

1,790
133,049
110,143		 -
49		 133,049

110,192		 101,402

135,102
110,143
-		 49
-
110,192
-
135,102
-
22,906
-		 (49)
-
22,857
-
(33,700)
-
22,906 (49)
22,857
(33,700)
22,906
59,160		 (49)
6,877
22,857
66,037
(33,700)
99,737
82,066 6,828 88,894 66,037

Page 19

The Khayaal Theatre Company Summary Income and Expenditure Account for the year ended 31 July 2024

Income
Gross income for the year
Expenditure
Depreciation and charges for
impairment of fixed assets
Total expenditure for the year
Net income/(expenditure) before tax
for the year
Net income /(expenditure )for the year		 2024
£
133,049
133,049
108,107
2,085
110,192
22,857
22,857		 2023
£
101,402
101,402
132,350
2,752
135,102
(33,700)
(33,700)

Page 20

The Khayaal Theatre Company Balance Sheet

at 31 July 2024

at 31 July 2024
Company No.
03597083
Notes
Fixed assets
Tangible assets
10
Current assets
Cash at bank and in hand
Creditors: Amount falling due within one year
11
Net current assets
Total assets less current liabilities
Net assets excluding pension asset or liability
Total net assets
The funds of the charity
Restricted funds
Restricted income funds
12
Unrestricted funds
12
General funds
Reserves
12
Total funds
2024
£
7,774
7,774
85,085
85,085
(3,965)
81,120
88,894
88,894
88,894

6,828
6,828
82,066
82,066
88,894		 2023
£
8,090
8,090
58,530
58,530
(583)
57,947
66,037
66,037
66,037
6,877
6,877
59,160
59,160
66,037

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 2024 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 22 April 2025

And signed on its behalf by:

F.

Qureshi Trustee 22 April 2025

Page 21

The Khayaal Theatre Company Statement of Cash flows

for the year ended 31 July 2024

Cash flows from operating activities
Net income/(expenditure) per Statement of Financial Activities
Adjustments for:
Depreciation of property, plant and equipment
Dividends, interest and rents from investments
Other gains/losses
Increase/(Decrease) in trade and other payables
Net cash provided by/(used in) operating activities
Cash flows from investing activities
Payments for property, plant and equipment
Dividends, interest and rents from investments
Net cash from investing activities
Net cash from financing activities
Net increase/(decrease) 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
Bank overdrafts		 2024
£
22,857
2,085
(4,297)
-
3,285
23,930
(1,769)
4,297
2,528
-
26,458
57,947
84,405
85,085
(680)
84,405		 2023
£
(33,700)
2,752
(1,790)
-
(2,505)
(35,243)
(595)
1,790
1,195
-
(34,048)
92,578
58,530
58,530
(583)
57,947

Page 22

The Khayaal Theatre Company Notes to the Accounts

for the year ended 31 July 2024

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 the legacies 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) where and facilities 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 at revaluation of fixed the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 23

The Khayaal Theatre Company Notes to the Accounts

es 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.
These comprise the costs associated with attracting voluntary income, fundraising
Expenditure on trading costs and investment management costs.
raising funds These comprise the costs incurred by the Charity in the delivery of its activities and
Expenditure on services in the furtherance of its objects, including the making of grants and
charitable activities 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 & Machinery 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 24

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

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
2023
£
59,612
20,000
1,790
81,402
113,243
113,243
(31,841)
(31,841)
(31,841)
91,000
59,159		 Restricted
funds
2023
£
-
20,000
-
20,000
21,859
21,859
(1,859)
(1,859)
(1,859)
8,736
6,877		 Total funds
2023
£
59,612
40,000
1,790
101,402
135,102
135,102
(33,700)
(33,700)
(33,700)
99,736
66,036

Page 25

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/(expenditure) before transfers
This is stated after charging:
Depreciation of owned fixed assets

Unrestricted
£
51,927
12,048
2,036
11,739
3,502
81,252
 Unrestricted
£
20,248
37,590
2,164
60,002
Unrestricted
£
68,750
68,750
Unrestricted
£
4,297
4,297
Restricted
£
-
-
49
-
-
49

2024
£
2,085		 Total
2024
£
20,248
37,590
2,164
60,002
Total
2024
£
68,750
68,750
Total
2024
£
4,297
4,297
Total
2024
£
51,927
12,048
2,085
11,739
3,502
81,301
 Total
2023
£
10,365
47,012
2,235
59,612
Total
2023
£
40,000
40,000
Total
2023
£
1,790
1,790
Total
2023
£
40,763
18,225
2,752
12,634
24,472
98,846

2023
£
2,752

Page 26

The Khayaal Theatre Company Notes to the Accounts

The Khayaal Theatre Company
Notes to the Accounts		 The Khayaal Theatre Company
Notes to the Accounts
9 Staff costs
2024
2023
Salaries and wages
51,927
40,458
51,927
40,458
No employee received emoluments in excess of £60,000.
The average monthly number of full-time equivalent employees during the year was as follows:
2024
2023
Number
Number
Administration and
production
2
2
2
2
10 Tangible fixed assets
Plant &
Machinery
£
Motor
Vehicle
£
Total
£
Cost or revaluation
At 1 August 2023
17,425

18,716

36,141
Additions
1,769
-
1,769
At 31 July 2024
19,194
18,716
37,910
Depreciation
and impairment
At 1 August 2023
9,539
18,512
28,051
Depreciation charge for the
year
2,034
51
2,085
At 31 July 2024
11,573
18,563
30,136
Net book values
At 31 July 2024
7,621
153
7,774
At 31 July 2023
7,886
204
8,090
11 Creditors:
amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
680
583
Other creditors
3,285
-
3,965
583		 2023
40,458
40,458
2



Total
£

36,141
1,769
18,716 37,910
18,512
51		 28,051
2,085
18,563 30,136
153
7,774
204 8,090

2023
£
583
-
583

Page 27

The Khayaal Theatre Company Notes to the Accounts

12 Movement in funds

Restricted funds:
Restricted income funds:
Bedfordshire and Luton
Community Foundation
(BLCF) - Community
Recovery Fund Grant
Total
Unrestricted funds:
General funds
Total funds		 At 1 August
2023
6,877
6,877
59,160

66,037
 Incoming
resources
(including
other
gains/losses)
£
-
-

133,049

133,049
 Resources
expended
£
(49)
(49)

(110,143)

(110,192)		 At 31 July
2024
£
6,828
6,828
82,066
88,894

Purposes and restrictions in relation to the funds: Restricted funds:

Bedfordshire and Luton BLCF Community Recovery Fund 2022-24 supports Khayaal 25 Luton Community Foundation (Drama Academy, Theatre without Walls and Multifaith Stories projects in (BLCF) – Community Recovery Luton Fund Grant).

13 Analysis of net assets between funds

(BLCF) – Community Recovery Luton
Fund Grant).
13 Analysis of net assets between funds
Fixed assets
Net current assets
14 Reconciliation of net debt
Cash and cash equivalents
Net debt		 Unrestricted
funds
£
7,608
81,120
88,728
At 1 August
2023
£
58,530
58,530
58,530		 Restricted
funds
£
166
-
166
Cash flows
£
26,555
26,555
26,555		 Total
£
7,774
81,120
88,894
At 31 July
2024
£
85,085
85,085
85,085

Page 28

The Khayaal Theatre Company

Notes to the Accounts

Controlling party

The company is limited by guarantee and has no share capital; thus no single party controls the company.

Page 29

The Khayaal Theatre Company Detailed Statement of Financial Activities

for the year ended 31 July 2024

The Khayaal Theatre Company
Detailed Statement of Financial Activities
for the year ended 31 July 2024
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
Audit/Independent examination fees		 Unrestricted
funds
2024
£
20,248
37,590
2,164
60,002
68,750
68,750
4,297
4,297
133,049
51,927
-
51,927
12,048
12,048
1,985
51
702
1,317
1,164
1,363
3,805
265
1,864
1,259
28,891
42,666
600		 Restricted
funds

2024
£
-
-
-
-
-

-
-

-
-
-
-
-
-

-
49
-
-
-
-
-
-
-
-
-
-
49
-
Total funds

2024
£
20,248
37,590
2,164
60,002

68,750

68,750

4,297

4,297
133,049
51,927
-
51,927

12,048

12,048
2,034
51
702
1,317
1,164
1,363
3,805
265
1,864
1,259
28,891
42,715
600
Total funds
2023
£
10,365
47,012
2,235
59,612

40,000
40,000

1,790
1,790
101,402
40,458
305
40,763

18,225
18,225
2,629
123
1,286
1,121
1,870
2,051
3,357
254
1,591
1,104
36,256
51,642
600

Page 30

The Khayaal Theatre Company Detailed Statement of Financial Activities

The Khayaal Theatre Company
Detailed Statement of Financial Activities
Sub-contractors
Other legal and professional
costs
Total of expenditure of other costs
Total expenditure
Net gains on investments
Net income/(expenditure)
Net income/(expenditure) before other
gains/(losses)
Other Gains
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 2,496
406
3,502
110,143
110,143
-
22,906
59,160
82,066
22,906
22,906
-		 -
-
-
49
49
-
(49)
6,877
6,828
(49)
(49)
-		 2,496
406
3,502
110,192
110,192
-
22,857
66,037
88,894
22,857
22,857
-		 7,712
16,160
24,472
135,102
135,102
-
(33,700)
(33,700)
-
(33,700)
99,737
66,037

Page 31